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 MarginalStanding Facility (MSF)- 9%
Banking & Financial News
ü RBI closed down six Urban Cooperative Banks which weresuspected of being used to route illegal money. RBI didn’t disclose the namesof these UCBs.
ü The Reserve Bank of India on 9 September 2014 decidedto 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 dueto fall in gold imports.
ü To expedite credit decisions, RBI asked banks to set atimeline to process loans. However, RBI didn’t set any particular time framefor it.
ü The Reserve Bank of India (RBI) on 1 September 2014issued guidelines on implementation of Basel III Capital Regulations. Theissued guidelines are to facilitate raising of non-equity regulatory capitalinstruments by banks under Basel III framework. The guidelines are applicablewith immediate effect from 1 September 2014.
ü The Cabinet Committee on Economic Affairs on 27 August2014 approved the continuation of production of urea.
ü IRCTC has launched a new application to book ticketsfor Black Berry smartphone users. The application is user friendly and easy tooperate.
ü Union Finance Ministry on 20 August 2014 ordered aforensic 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 thetwo banks OBC and Dena Bank had siphoned off 180 crore rupees and 256 crorerupees respectively, from their fixed deposit customers.
ü UnionTextiles Ministry signed MoU with Flipkart to provide online marketing platformto handloom weavers to boost the sector.
ü SCtermed coal block allocated by screening committee from 1993 to 2010 asillegal. They were not fare & transparent.
ü UnionGovernment re-launched Varishtha Pension Bima Yojana for the benefit ofcitizens aged 60-year and above and provide financial security to them.
ü The Competition Commission of India (CCI) on 25 August2014 imposed a combined penalty of more than 2500 crore rupees on 14 carcompanies
hehighest penalty of around 1346 crore rupees has been imposed on Tata Motors.
ü The Reserve Bank of India on 21 August 2014 released itsannual report for 2013-14. In its report. RBI suppressed the fear of droughtstating that ‘its way better than 2009’ and the gaps in the fiscal and currentaccounts are most likely to remain contained in 2014-15.
Thereport covers (i) the assessment of the macroeconomic performance during2013-14 and the prospects for 2014-15, and (ii) the working and operations ofthe Reserve Bank and its financial accounts for the year 2013-14.
ü TheReserve Bank of India on 21 May 2014 allowed banks to provide loans toexporters with tenures of up to 10 years.
ü BharatiyaMahila Bank (BMB) was included in the second schedule of the Reserve Bank ofIndia (RBI) Act, 1934. It was announced by RBI in a notification issued. Totalnumber of scheduled commercial banks in India now are 90.
ü The Reserve Bank of India (RBI) made easy the gold importnorms under the 20: 80 Scheme.Under the 20:80 Scheme, Star trading houses andpremier trading houses, which are registered as nominated agencies by theDirectorate General of Foreign Trade (DGFT) now can import gold.
BHARAT BILL PAYMENT SYSTEM
v Bill payment is a major component of the retailpayment transactions. The Committee to study the Feasibility of Implementationof GIRO based Payment Systems (Chairman: Shri G. Padmanabhan, ExecutiveDirector, RBI) (2013) had estimated that over 30,800 million bills amounting toRs.6223 billion are generated each year in the top 20 cities in the country.Though various forms of payments are accepted, cash and cheque paymentscontinue to be predominant, particularly at the Billers’ Own Collection Point.
NEW BANKING LICENSE
v In April, RBI issued in-principle licences toinfrastructure financier IDFC and micro lender Bandhan. These entities willhave to start operations within 18 months from the time they secured thelicences.
v Theapproval of licences for IDFC Ltd (IDFC.NS) and Bandhan Financial Servicesmarks the start of a cautious experiment for a sector dominated by lethargicstate lenders, many of which are reluctant to expand into rural areas or townswhere banking penetration is low. No new Indian bank has been formed since YesBank (YESB.NS) in 2004.
RuPay Payment Gateway
v RuPay is an Indian domestic card scheme conceived andlaunched by the National Payments Corporation of India (NPCI).
v It was created to fulfill the Reserve Bank of India’sdesire to have a domestic, open loop, and multilateral system of payments inIndia
v The IndiaPay scheme was conceived by the NationalPayments Corporation of India as an alternative to the MasterCard and Visa cardschemes.
v The RuPay card was launched on 26 March 2012.
v On 8May 2014, RuPay has been dedicated to India by President of India, PranabMukherjee at Rashtrapati Bhavan, New Delhi.
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