Special Banking Awareness Questions for IBPS Clerk IV for Final Preparation
This competition booster is provided for final time preparation for IBPS-clerk IV exam this will also help you in your IBPS-Specialist officer exam. THis covers banking awareness and current affairs important for IBPS-Clerk IV exam.
POLICY RATES OF RBI
- Repo rate- 8%
- Reverse Repo Rate-7%
- Bank Rate-9%
- Marginal Standing Facility (MSF)- 9%
BANKING & FINANCIAL NEWS
- Reserve Bank of India on 10 November 2014 tightened its norms for Non-Banking Financial Companies (NBFCs) by requiring them to have a much stronger capital base. Failing to which, the NBFCs would lose their CoR (Certificate of Registration). NBFCs have been given time till March 2017 to comply with the norms.
- The criteria for directors of NBFCs have also been brought on par with banks.
- Classification of loan NPAs for NBFCs has also been brought in line with banks. All NBFCs have to classify loans overdue for 90 days as NPAs. However, this new rule will be applied in a phased manner starting in March 2016 till March 2018.
- Provisions for standard assets have also been increased from 0.25 percent of the loans outstanding to 0.40 percent of loans in a phased manner starting from March 2016 and to be complied by March 2018.
- For deposit-taking NBFCs, it has been mandated that unrated asset-financing NBFCs that accept deposits must get an investment grade rating by March 2016 or stop accepting deposits.
- Also between now and March 2016, unrated asset finance companies which are sub-investment grade can only renew deposits on maturity and not accept fresh deposits till they get an investmentgrade rating.
- All asset financing NBFCs will now be allowed to accept deposits up to 1.5 times of their net owned funds, down from four times their net owned funds earlier. NBFCs above this threshold have been asked not to renew deposits.
- The Reserve Bank of India on 16 October 2014 signed a pact with the Central Bank of Kenya (CBK) for Supervisory Cooperation and Exchange of Supervisory Information.
- Apart from this, the RBI signed 22 such MoUs and one Letter for Supervisory Co-operation. The signing ceremony was held at Hyderabad.
- Union Finance Minister on 12 October 2014 gave the green signal for the much awaited reforms in the monetary policy framework.
- As per the new reforms, Union Government will specify the inflation targets for the Reserve Bank of India (RBI) to achieve. The RBI will set inflation as its top priority in its policy statements.
- India is the fastest growing e-commerce market in the Asia-Pacific region and is expected to touch $6 billion (about Rs. 3.7 lakh crore) by next year, research firm Gartner.
- India’s biggest lender State Bank of India (SBI) has come up with new norms for ATM transactions, offering more free ATM usage for customers maintaining higher account balance. The new SBI norms will come into effect from November 1.
- Note: SBI said that customers maintaining average monthly balance of Rs. 25,000 to Rs. 1 lakh will get the benefit of unlimited free usage of its own ATMs. However, at other bank ATMs in six metro cities, these customers will be charged beyond three transactions in a month and five transactions in other centres.
- Much-awaited reform on energy pricing and cutting subsidies, government has decided to deregulate or link to market the price of diesel. As a result, the diesel price has been slashed by Rs 3.37.
- Egypt signed contracts with six international firms to carry out dredging of the new Suez Canal.
- Construction of the new Suez Canal is the flagship project under President Abdel Fattah al-Sisi’s program to revive an economy battered by years of political turmoil.
- India is poised to become a USD two trillion economy this year, while its GDP size would cross another milestone of USD three trillion after five years in 2019, according to IMF’s latest world economic outlook. India’s ranking would also improve to seventh largest economy in the world, while measured on “current prices” basis in US dollar, in 2019 from its tenth position currently.
- Financial services giant MasterCard’s chief executive, Ajay Banga, is the sole Indian-origin top executive in a list of 100 best performing CEOs in the world compiled by the prestigious Harvard Business Review (HBR) magazine, with Amazon CEO Jeffrey Bezos topping the rankings.
- Government has approved the Fertiliser Ministry’s proposal to provide Rs 14,500-crore subsidy to the cash starved fertiliser industry via a special banking arrangement (SBA) route.
- State-owned power major NTPC has committed to build 8,152 toilets in government schools under Prime Minister Narendra Modi’s cleanliness drive
- Tata AutoComp Systems Ltd (Tata AutoComp) and Katcon Global have inked an alliance to provide exhaust systems for the Indian automotive industry.
- Ministry of Steel will set up a “Steel Research & Technology Mission of India” (SRTMI) to promote collaborative research programmes in steel sector.
- The Secretary, Higher Education, Ministry of Human Resource Development, Shri Satya Narayan Mohanty launched the All India Survey on Higher Education (AISHE) 2014-15 in New Delhi.
- Indian and Chinese technology entrepreneurs were leading the top 10 Asian tech billionaire list with $136 billion net assets, according to an industry source and recent market data.
- Google Inc Chief Executive Officer Larry Page has put Sundar Pichai, one of his key lieutenants, in charge of the Internet company’s products.
- G. S. Sandhu, Secretary, Department of Financial Services (DFS), Ministry of Finance has launched a dedicated website (www.pmjdy.gov.in) for Pradhan Mantri Jan-Dhan Yojna (PMJDY) which is available both in English and Hindi versions.
- Ministry of Finance, Government of India organized a three day International Cross Regional Conference on “Increasing Financial Outreach of the Youth Population, 2014-Postal Savings Bank Forum and 90th Anniversary of World Thrift (Savings) Day during 28th – 30th October 2014 in collaboration with World Savings Retail Banking Institute (WSBI, Brussels).
- The Vigilance Awareness Week was observed this year from October 27, 2014 to November 01, 2014 and this year’s theme is “Combating Corruption – Technology as an enabler”.
- Note: The Central Vigilance Commission (CVC) as the apex integrity institution of the country has been thriving to promote transparency, probity and integrity in public life.
- The Chairman and CEO of the Japanese telecom and internet giant SoftBank, Masayoshi Son met the Minister for Communications and Information Technology and Law & Justice Ravi Shankar Prasad in New Delhi.
- The Indian Railways has successfully implemented Wi-Fi facility in Bangalore City Railway station for providing high speed internet to the passengers.
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