` 60/- Current Affairs Ready Reckoner for Ibps Po
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[Pick the date] ` 60/- CURRENT AFFAIRS READY RECKONER FOR IBPS PO Monetary Policy Committee (MPC), The seventh meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on October 3 and 4, 2017 at the Reserve Bank of India, Mumbai. The meeting was attended by all the members – Dr. Chetan Ghate, Professor, Indian Statistical Institute; Dr. Pami Dua, Director, Delhi School of Economics; Dr. Ravindra H. Dholakia, Professor, Indian Institute of Management, Ahmedabad; Dr. Michael Debabrata Patra, Executive Director (the officer of the Reserve Bank nominated by the Central Board under Section 45ZB(2)(c) of the Reserve Bank of India Act, 1934); Dr. Viral V. Acharya, Deputy Governor in charge of monetary policy – and was chaired by Dr. Urjit R. Patel, Governor Monetary Policy Committee (MPC), keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent. The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. The main considerations underlying the decision are set out in the statement below. Monetary Policy Committee (MPC), Inflation is expected to range between 4.2-4.6 per cent in the second half of this year Plot-1441, Opp. IOCL Petrol Pump, CRP Square, Bhubaneswar-751015 Ph. : (0674) 6556677, 8093556677. Web : www.vanik.org, E-mail : [email protected] 1 CURRENT AFFAIRS READY RECKONER FOR IBPS PO The Reserve Bank reduced the Statutory Liquidity Ratio (SLR), the portion of deposits held by banks in government securities, by 0.5 per cent to 19.5 per cent, freeing over Rs. 57,000 crore to bank funds for lending. According to bankers, it will not create much of a difference as several banks are holding in excess of statutory requirement. RBI sets up Supervisory Colleges for six Scheduled Commercial Banks which have sizeable international presence State Bank of India, ICICI Bank Ltd., Bank of India, Bank of Baroda, Axis Bank Ltd. and Punjab National Bank. The objectives of the colleges are to enhance information exchange and cooperation among supervisors, to improve understanding of the risk profile of the banking group and thereby facilitate more effective supervision of internationally active banks BSE inks Cooperation Pact with Egyptian Exchange BSE has joined hands with Egyptian Exchange (EGX) for cooperation in exchange of information across business areas. The exchange aim is to cross list and trade securities and It would provide new investment alternatives to investors in both markets. The MoU between BSE and EGX represents an important step in integrating both the exchanges to build capital market flows. Through this MoU a range of opportunities has been explored for the development of their businesses, products and markets to share knowledge and strengthen international connectivity Punjab National Bank ties up with Bajaj Allianz General for distribution. (BANCASSURANCE) State-owned Punjab National Bank (PNB) and Bajaj Allianz General Insurance have signed an agreement for the distribution of insurance products through the branches. Under this agreement, Bajaj Allianz General Insurance will offer personal lines of insurance products such as health, personal accident, home, motor and travel along with commercial line of insurance products such as property, marine and engineering insurance, etc to the banks customers The bank has widespread network of around 7,000 branches. SIDBI starts merchant banking operations for MSMEs Small Industries Development Bank of India said it has started full fledged merchant banking operations to help medium and small enterprises (MSMEs) tap capital markets for their funding requirements. The initiative would enhance access of MSMEs to capital markets including SME trading platform and institutional trading platform. Standard Chartered Bank launches Multicurrency Forex Card Standard Chartered Bank has launched a 'Multicurrency Forex Card' that offers customers the convenience of loading up to 20 widely used currencies on one card. The card comes with an online reload facility during overseas travel and is designed to offer travelers a secure way to carry money when travelling abroad. Some of the currencies that can be loaded are the US dollar, Euro, British Pound, Singapore dollar, Swiss franc, Thai baht, Japanese Yen and South African rand Plot-1441, Opp. IOCL Petrol Pump, CRP Square, Bhubaneswar-751015 Ph. : (0674) 6556677, 8093556677. Web : www.vanik.org, E-mail : [email protected] 2 CURRENT AFFAIRS READY RECKONER FOR IBPS PO Standard Chartered Bank Headquarters: London, United Kingdom CEO: Bill Winters Karnataka Bank launches “Met Loan & Life Suraksha” Karnataka Bank in association with its life insurance partner M/s PNB MetLife, today, announced the launch of ‘Met Loan & Life Suraksha’ (MLLS), a single premium plan covering the loan liability of a customer. In the year of celebrating 15 years of its partnership with M/s PNB MetLife, Bank also introduced ‘KBL MLLS’ app exclusively for the KBL employees to instantly calculate the insurance cover and premium based on loan liability of their borrowers. The loan product and mobile app was unveiled by Mr. Mahabaleshwara M.S., Managing Director & CEO, Karnataka Bank BoB signs MoU with DGS&D for services to govt's e-marketplace. Bank of Baroda has entered into an agreement with Directorate General of Supplies & Disposal (DGS&D) for extending various banking services to Government e-Marketplace (GeM). DGS&D has been mandated to set up GeM, an initiative intended to bring greater transparency and efficiency in public procurements. The relationship of the bank with GeM will immensely benefit all stakeholders and ensure a support system including a dedicated team for seamless functioning of the portal The Cabinet had in April 2017 approved creation of GeM Special Purpose Vehicle (SPV), which will replace DGS&D, nodal purchase organisation of the central government. The GeM SPV has been established as National Public Procurement Portal to provide an end-to- end online marketplace for central and state government departments, their public sector undertakings, autonomous institutions and local bodies, for procurement of common goods and services in a transparent and efficient manner. The DGS&D shall be wound up and cease its functions by October this year. "In case it is not possible to wind up DGS&D by October 31, 2017, the department may extend the date of closure with proper justification latest up to March 31, 2018," SEBI inks pact with ESMA for information exchange on CCPs Markets regulator Securities and Exchange Board of India (SEBI) has entered into a Memorandum of Understanding (MoU) with the European Securities and and Markets Authority (ESMA) The MoU was signed for exchange of information concerning Central Counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR). What is a 'Central Counterparty Clearing House - CCP' A central counterparty clearing house (CCP) is an organization that exists in various European countries to help facilitate trading done in European derivatives and equities markets. These clearing houses are often operated by the major banks in the country to provide efficiency and stability to the financial markets in which they operate. CCPs bear most of the credit risk of buyers and sellers when clearing and settling market transactions. ICICI Bank offers up to Rs 15 lakh instant personal loan via ATMs for 60 months These customers can get pre-qualified personal loans up to 15 lakhs in their savings account instantly. Plot-1441, Opp. IOCL Petrol Pump, CRP Square, Bhubaneswar-751015 Ph. : (0674) 6556677, 8093556677. Web : www.vanik.org, E-mail : [email protected] 3 CURRENT AFFAIRS READY RECKONER FOR IBPS PO the facility offers a bouquet of features - swift application in simple steps, multiple eligible loan amount options up to Rs.15 lakh based on pre-checked CIBIL scores and instant transfer of the money to the customer’s account. A Credit Score or the CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIR (Credit Information Report) A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time. A CIR does not contain details of your savings, investments or fixed deposits ICRA, IIFCL launch rating system for infra projects A new system for rating of infrastructure projects has been launched by rating agency ICRA in association with the India Infrastructure Finance Company Ltd (IIFCL) The new system will focus on the overall recovery of dues by the investor/lender over the lifecycle of the project, besides retaining the valuable aspect of probability of default already adopted by the conventional rating scale. Rs 20 notes in Mahatma Gandhi 2005 series soon: RBI The notes will be similar in design to those currently in circulation. The new notes will be bearing inset letter ‘S’ in the number panel and signature of Governor Urjit R Patel. “Both the number panels will have inset letter S. Moreover, the bank said that the design of these banknotes to be issued