The Hindu Review: DECEMBER 2017
Total Page:16
File Type:pdf, Size:1020Kb
The Hindu Review: December 2017 for RBI Assistant Mains & IBPS SO Prelims The Hindu Review: DECEMBER 2017 Banking Current Affairs Agri service solutions provider Sohan Lal Commodity The government has engaged private lender ICICI Bank Management (SLCM) having operations across India and to enable online payments at 470 mandis integrated Myanmar has tied up with HDFC Bank and IndusInd with the national portal of electronic National Bank to provide collateral management services. Agriculture Market (e-NAM). As per SBI, its board has approved raising Rs 8,000 crore Axis Securities, a subsidiary of Axis Bank become the through various sources, including masala bonds, to meet first-ever broking arm of a bank to take membership of Basel III capital norms. a commodity exchange by registering itself with Bank of Baroda has entered into MoU with POORTI Agri NCDEX. Services Pvt. Ltd to enable the farmers to purchase BSE's India International Exchange (India INX) received agricultural inputs such as fertilizers, pesticides, seeds etc. approval from SEBI for the listing of debt securities. provided by POORTI. This will enable Indian & foreign issuers to issue masala US buyout giant KKR & Co has become the first foreign bonds, Eurobonds, and foreign currency bonds from investor to fully own an asset reconstruction company India INX at International Financial Service Centre (ARC) in India as it received approval from the Reserve (IFSC) at Gujarat International Finance Tech (GIFT) for Bank of India. the first time. Public sector IDBI Bank has received the capital infusion Govt. fixed Rs 2,890 per gram as the price of new series of Rs 2,729 crore from the government of India. of sovereign gold bonds (SGBs). Govt. decided to offer a State-run Bank of India has received capital infusion of Rs. discount of Rs 50 per gram to investors applying online 2,257 crore from the government. and making payments digitally. Minimum investment Allahabad Bank has entered into an agreement with state- in the bonds is one gram, with a maximum limit of 500 run National e-Governance Services Limited (NeSL) for grams per person, per financial year. utilizing the latter’s Information Utility Services envisaged RBI increased the limits for investment by foreign under the Insolvency and Bankruptcy Code, 2016. portfolio investors (FPIs) for the January-March 2018 Reserve Bank of India has put Kolkata-based United Bank quarter by Rs 6,400 crore in Central Government of India under the prompt corrective action (PCA) Securities (G-Secs) and Rs 5,800 crore in State framework. development loans (SDLs). Revised investment limit for Capital market regulator Securities and Exchange Board of FPIs in G-Secs will be Rs 2,56,400 crore against the India (SEBI) has raised the investment limit for foreign existing limit of Rs 2,50,000 crore. portfolio investors (FPI) in central government securities to State Bank of India introduced a loyalty program for its over 1.91 lakh crore from January 2018. valued customers named as State Bank Rewardz, which Reserve Bank of India has placed Bank of India under the gives the customers several opportunities to earn Prompt Corrective Action Framework, consequent to the reward points and earn many times faster at Max Get onsite inspection under the Risk-Based Supervision Model More partner outlets. carried out for the year ended March 2017. RBI imposed Rs 3 crore penalty on IndusInd Bank for Competition Commission of India (CCI) has approved the breaching rules on income classification norms. scheme of amalgamation between IndusInd Bank and RBI has triggered prompt corrective action Bharat Financial Inclusion. (PCA) against Corporation Bank, in view of high non- AU Small Finance Bank has announced signing an MoU performing loans and requirement to raise capital. This with Sahaj e-Village for extending its banking service in makes Corporation Bank eighth bank to face restriction. remote areas through Business Correspondent Agent (BC) OBOPAY announced that the company has secured a model. license for Prepaid Payment Instrument (PPI) from YES Bank and the European Investment Bank will co- RBI to operate a semi-closed loop wallet in the country. finance $400-million funding for renewable power Monetary Policy Committee (MPC) decided to keep generation in the country. policy repo rate under the liquidity adjustment Reserve Bank of India (RBI) has imposed a penalty of Rs 5 facility (LAF) unchanged at 6%. RRR under the LAF crore on Syndicate Bank for non-compliance with its remains at 5.75%, & MSF rate & Bank Rate at 6.25%. The directions on "Cheque Purchase or Discounting, Bill projection of real GVA growth for 2017-18 of 6.7% has Discounting, and Know Your Customer (KYC)" norms. been retained. As per the IT Ministry, the government will bear the Govt. has fixed 2,952 rupees per gram as price of new Merchant Discount Rate (MDR) charges on transactions up series of sovereign gold bonds (SGBs). Govt., in to Rs 2,000 made through debit cards, BHIM UPI or consultation with RBI decided to offer a discount of Rs. Aadhaar-enabled payment systems to promote digital transactions. 1 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App REPORT THE ERROR IN CAPSULE at [email protected] The Hindu Review: December 2017 for RBI Assistant Mains & IBPS SO Prelims 50 per gram to investors applying online & making payments digitally. Paytm Payments Bank rolled out Paytm FASTag to enable electronic toll fee collection on highways across the country. Paytm Payments Bank is the only bank providing zero balance accounts & zero charges on digital transactions. It unveiled 'Paytm Ka ATM' outlets that allows customers to open Saving A/c & deposit/withdraw money from their A/c. Corporation Bank launched its RuPay Select & RuPay Platinum credit cards. Jai Kumar Garg, MD & CEO unveiled it. Venezuelan President Nicolas Maduro announced the creation of a new virtual currency named 'Petro' to ease the country's economic crisis. Schemes/Portals/Missions Launched The government had formally launched the ‘Ganga Gram’ Minister of Communications Manoj Sinha launched project at the Ganga Gram Swachata Sammelan in New DARPAN- “Digital Advancement of Rural Post Office Delhi. The Ganga Gram project is an integrated approach for A New India” Project to improve the quality of for the holistic development of villages situated on the service, add value to services and achieve 'financial banks of the holy river with the active participation of inclusion' of the unbanked rural population. villagers. Union Minister of State for Home Affairs, Shri Kiren With an aim to bring the foreign policy to the masses Rijiju, inaugurated the first national-level training of the External Affairs Ministry has come up with an trainers program to sensitize various Central Ministries initiative called SAMEEP - 'Students and MEA and Departments on the utilization of Sendai Monitor Engagement Programme'. Under this MEA official will for developing action plans for Disaster Risk Reduction talk to students to help them better understand foreign (DRR) in New Delhi. policy. The main objective of SAMEEP is to take Indian Jammu and Kashmir Bank launched a special financial foreign policy and its global engagements to students scheme for journalists of the state. The scheme "J&K across the country. Bank Sahafat Finance Scheme" was launched by the Union Minister of State (I/C) of the Ministry of bank's chairman and CEO Parvez Ahmad. Development of North Eastern Region (DoNER), Dr Union Cabinet chaired by PM Narendra Modi has Jitendra Singh launched the electronic-Human Resource approved the Ministry of Railways' transformative Management System (e-HRMS) in New Delhi. initiative to set up India's first ever National Rail and Union Agriculture and Farmers’ Welfare Minister, Shri Transport University (NRTU) in Vadodara, Gujarat to Radha Mohan Singh has launched Livestock Disease skill its human resources and build capability. Forewarning –Mobile Application (LDF-Mobile CCEA given its approval for a new skill development App). The app is developed by ICAR-National Institute of scheme covering the entire value chain of the textile Veterinary Epidemiology and Disease Informatics (ICAR- sector excluding Spinning & Weaving in organized NIVEDI), Bengaluru. Sector, titled "Scheme for Capacity Building in Textile To enhance standards of cleanliness on beaches, the Sector (SCBTS)" from 2017-18 to 2019-20 with an outlay environment ministry has launched a pilot project 'Blue of Rs. 1300 crore. The scheme will have National Skill Flag' for its clean-up and development. With the prime Qualification Framework (NSQF) compliant training objective of enhancing standards of cleanliness, upkeep courses. and basic amenities at beaches, the ministry has launched a President of India, Shri Ram Nath Kovind, laid the pilot project, also striving for the 'Blue Flag' certification foundation stone of the 'Nyaya Gram project' of the for such identified beaches. High Court of Allahabad in Allahabad, Uttar Pradesh. Uttar Pradesh launched a free household power 'Nyaya Gram' is a residential and training complex of connection scheme for the poor in the state to mark former Allahabad High Court. prime minister Atal Bihari Vajpayee’s birth anniversary. A Public Procurement Portal named ‘MSME Sambandh’ The scheme is driven by government’s motto ‘Prakash hai was launched by Shri Giriraj Singh, Minister of State to Vikas hai’ (the barometer of development is light). The (Independent Charge) for MSME in New Delhi. The government also introduced Kisan Uday Yojana, a novel objective is to monitor the implementation of Public scheme for farmers. 2 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App REPORT THE ERROR IN CAPSULE at [email protected] The Hindu Review: December 2017 for RBI Assistant Mains & IBPS SO Prelims Procurement from MSEs by Central Public-Sector Emergency Response Teams), a setup of National Enterprises.