Banking Awareness And Current Awareness note Download in pdf for IBPS-PO & SBI-PO Exam 2014
Guys this pdf is prepared by professionals and this is really helpful pdf for those prepare for IBPS-PO and SBI-Associates PO exam, this covers all general awareness, important banking events, current events and banking current which is important for upcoming SBI & IBPS exam.
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Policy Rates of RBI
Ø Repo rate- 8%
Ø Reverse Repo Rate-7%
Ø Bank Rate-9%
Ø Marginal Standing Facility (MSF)- 9%
Banking & Financial News
ü RBI closed down six Urban Cooperative Banks which were suspected of being used to route illegal money. RBI didn’t disclose the names of these UCBs.
ü The Reserve Bank of India on 9 September 2014 decided to fix the upper age limit at 70 years for M.D and CEO in private sector banks.
ü CAD in Q1 of 2014-15 narrowed down to 1.7 percent due to fall in gold imports.
ü To expedite credit decisions, RBI asked banks to set a timeline to process loans. However, RBI didn’t set any particular time frame for it.
ü The Reserve Bank of India (RBI) on 1 September 2014 issued guidelines on implementation of Basel III Capital Regulations. The issued guidelines are to facilitate raising of non-equity regulatory capital instruments by banks under Basel III framework. The guidelines are applicable with immediate effect from 1 September 2014.
ü The Cabinet Committee on Economic Affairs on 27 August 2014 approved the continuation of production of urea.
ü IRCTC has launched a new application to book tickets for Black Berry smartphone users. The application is user friendly and easy to operate.
ü Union Finance Ministry on 20 August 2014 ordered a forensic audit of the state-run Oriental Bank of Commerce (OBC) and Dena Bank. The audit was ordered following reports that some Mumbai-based branches of the two banks OBC and Dena Bank had siphoned off 180 crore rupees and 256 crore rupees respectively, from their fixed deposit customers.
ü Union Textiles Ministry signed MoU with Flipkart to provide online marketing platform to handloom weavers to boost the sector.
ü SC termed coal block allocated by screening committee from 1993 to 2010 as illegal. They were not fare & transparent.
ü Union Government re-launched Varishtha Pension Bima Yojana for the benefit of citizens aged 60-year and above and provide financial security to them.
ü The Competition Commission of India (CCI) on 25 August 2014 imposed a combined penalty of more than 2500 crore rupees on 14 car companies
he highest penalty of around 1346 crore rupees has been imposed on Tata Motors.
ü The Reserve Bank of India on 21 August 2014 released its annual report for 2013-14. In its report. RBI suppressed the fear of drought stating that 'its way better than 2009' and the gaps in the fiscal and current accounts are most likely to remain contained in 2014-15.
The report covers (i) the assessment of the macroeconomic performance during 2013-14 and the prospects for 2014-15, and (ii) the working and operations of the Reserve Bank and its financial accounts for the year 2013-14.
ü The Reserve Bank of India on 21 May 2014 allowed banks to provide loans to exporters with tenures of up to 10 years.
ü Bharatiya Mahila Bank (BMB) was included in the second schedule of the Reserve Bank of India (RBI) Act, 1934. It was announced by RBI in a notification issued. Total number of scheduled commercial banks in India now are 90.
ü The Reserve Bank of India (RBI) made easy the gold import norms under the 20: 80 Scheme.Under the 20:80 Scheme, Star trading houses and premier trading houses, which are registered as nominated agencies by the Directorate General of Foreign Trade (DGFT) now can import gold.
BHARAT BILL PAYMENT SYSTEM
v Bill payment is a major component of the retail payment transactions. The Committee to study the Feasibility of Implementation of GIRO based Payment Systems (Chairman: Shri G. Padmanabhan, Executive Director, RBI) (2013) had estimated that over 30,800 million bills amounting to Rs.6223 billion are generated each year in the top 20 cities in the country. Though various forms of payments are accepted, cash and cheque payments continue to be predominant, particularly at the Billers’ Own Collection Point.
NEW BANKING LICENSE
v In April, RBI issued in-principle licences to infrastructure financier IDFC and micro lender Bandhan. These entities will have to start operations within 18 months from the time they secured the licences.
v The approval of licences for IDFC Ltd (IDFC.NS) and Bandhan Financial Services marks the start of a cautious experiment for a sector dominated by lethargic state lenders, many of which are reluctant to expand into rural areas or towns where banking penetration is low. No new Indian bank has been formed since Yes Bank (YESB.NS) in 2004.
RuPay Payment Gateway
v RuPay is an Indian domestic card scheme conceived and launched by the National Payments Corporation of India (NPCI).
v It was created to fulfill the Reserve Bank of India’s desire to have a domestic, open loop, and multilateral system of payments in India
v The IndiaPay scheme was conceived by the National Payments Corporation of India as an alternative to the MasterCard and Visa card schemes.
v The RuPay card was launched on 26 March 2012.
v On 8 May 2014, RuPay has been dedicated to India by President of India, Pranab Mukherjee at Rashtrapati Bhavan, New Delhi.
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