Banking Awareness January 2017 Part 1

JANUARY + 15th FEBRUARY - Banking and
Financial Awareness
1 new video daily
high level quant + reasoning questions
special focus on Computer awareness +
Banking awareness
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Securi5es and Exchange Board of India (Sebi)
relaxed its rules for investment by angel funds
Lock-in requirement = three years to one year
Minimum investment threshold = Rs50 lakh to Rs25 lakh

UPPER limit for number of angel investors in a scheme increased
from 49 to 200
Amendments to Sebi (Alterna5ve Investment Funds) Regula5ons,
2012

Angel funds will be allowed to invest in start-ups incorporated
within ve years, which was earlier three years

Alterna5ve Investment Policy Advisory CommiUee (AIPAC) -
chairmanship of N.R. Narayana Murthy.
The Reserve Bank of India (RBI) has agreed to provide
Rs1 billion in Rs100 denomina5on notes to Nepal
Rastra Bank (NRB) to ease the acute shortage of Rs100
notes faced by Nepal

Hundreds of thousands of Nepalese, who earn a living
by working as daily-wage labourers in India, visit India
seeking medical treatment or rely on Indian markets
to purchase daily essen5als, were said to be holding
big chunk of scrapped Indian bank notes.


State-run UCO Bank has launched its UCO
Suvidha Prepaid Card.

R.K. Takkar, MD & CEO, UCO Bank

alterna?ve to cash, can be used for cash
withdrawals, purchase at Points of Sale (POS)
or, over the Internet.

IRA - Intelligent Robo5c Assistant
HDFC Bank launched the rst humanoid in the
domes5c banking space
City Union Bank last year introduced robot Lakshmi
Automa?on threatens 69 per cent of the jobs in India,
while 77 per cent in China, according to a World
Bank research


MoneyTap, a Bangalore-based ntech startup,
has launched Indias rst app-based credit line,
having ZeroPaperTM technology, which
enables 100% paperless processing of its
customer applica5ons.

India Post Payments Bank (IPPB) launched
Raipur and Ranchi - rst two branches

Plan 650 branches

Payments banks accept limited deposits and oer payment
services but do not oer loans, unlike commercial
banks.

Payments banks might pose a challenge to tradi5onal banks for
small amount deposits due to lower overhead cost, nance
minister Arun Jaitley said at the IPPB launch. More than 155,000
post oces of India Post will now start opera5ng as payment
banks and prove to be game changer for nancial inclusion in the
country.
A. P. Singh, interim managing director and chief execu5ve ocer of IPPB

3 types of accounts -
Safal - the regular account
Sugam - a basic savings bank deposit account
Saral - BSBDA-Small

No minimum balance requirements.

Both Safal and Sugam need KYC (know your customer) and minimum age of
10 years, but Saral can be opened by anyone above the age of 10 years
without KYC
Interest rates have been xed
4.5% if the quarterly average balance is up to Rs 25,000
5% if it is between Rs25,000 and Rs50,000
and 5.5% if above Rs50,000.

There are no charges on cash withdrawals, unlike Airtel Payments Bank.
State Bank of India (SBI) has decided to
completely waive o Merchant Discount Rate
(MDR) charges on debit card transac5ons for all
small merchants having an annual turnover of
up to Rs 20 lakh

It is a charge to a merchant by a bank for
accep5ng payment from their customers in
credit and debit cards every 5me a card is used
for payments (like swiping) in their stores. The
merchant discount rate is expressed in
percentage of the transac5on amount.

MDR Policy by the RBI

For the 5me being, the objec5ve of the RBI is to
encourage maximum cashless transac5on.

Aiming this objec5ve, the RBI has brought a policy of
sejng upper limit for MDR by banks. Here, the Reserve
Bank had ra5onalized the Merchant Discount Rate
(MDR) for debit cards with eect from September 2012.

Since then, the MDR for debit card transac5on has been
capped at 0.75% for transac5on values upto Rs.2000
and at 1% for transac5on values above Rs.2000.

Axis Bank became the third lender in the country to
announce usage of block chain solu5ons for its
opera5ons, amer its peers ICICI Bank and Yes Bank. The
Shikha Sharma-led bank, the third largest private sector
lender, will be using the upcoming technology for cross-
border remiUances, it said in a statement.

ICICI Bank 1
Yes Bank - 1

Axis Bank has 5ed up with ntech rm Ripple to oer
the solu5on.


The World Bank decelerated India's
growth for 2016-17 scal to 7 per cent
from previous es5mate of 7.6

7.6 per cent in Fiscal Year (FY) 2018
7.8 per cent in FY 2019-20

The Bureau of Indian Standards (BIS) has
revised the Indian Standard on gold
hallmarking, eec5ve from January 1, 2017

Now, the hallmarked gold jewellery will be
available in three grades of
14 carat
18 carat
22 carat

HDFC ERGO General Insurance Company
has launched a new policy

Trade Credit Insurance Policy

which safeguards businesses against the risks
of non-payment for the goods or services
delivered to the buyers.


HQ New York , USA
Ci5Bank Launches Voice Biometrics
Authen5ca5on for Asia Pacic Consumer
Banking Customers
First bank to roll out voice biometrics
authen5ca5on across the Asia Pacic region

NITI Aayog has es5mated a growth rate of 8%
for 2016-17

The review does not take into account the
impact of demone5sa5on.

The 12th Plan is the last ve-year Plan and from
2017-18, the Centre would adopt a three-year
ac5on plan and a meen-year vision document.
(The Aayog has said in its review of the 12th
Five-Year Plan)

Airtel's Payments Bank launched
an ini5al investment of Rs 3000 crores to
develop a pan India banking network

Digital Banking: Quick and paperless account opening using Aadhaar

based e-KYC. This requires no documents at all, only the customers
Aadhaar number is needed.
The customers mobile number will be his/her bank account number.
Interest rate of 7.25 % p.a. on deposits in savings accounts.
One minute of Airtel mobile talkMme for every Rupee deposited at
the Mme of opening a savings account.
Money transfer to any bank account in India (Free money transfer
from Airtel-to-Airtel numbers within Airtel Payments Bank).
Free Personal Accidental Insurance of Rs. 1 Lac with every Savings
Account.
Easy deposit and withdrawal facility across a wide network of Airtel
retail outlets.

State General Reserve Fund of Oman
(SGRF), a Sovereign Wealth Fund and the
State Bank of India will infuse $150 million
and $50 million respec?vely in private
equity fund OmanIndia Joint Investment
Fund (OIJIF)

Fund focused on inves5ng in the mid-
market segment in India

Securi5es market regulator SEBI reduced the

turnover fees levied on stock brokers by 25 per
cent to Rs. 15 per crore of turnover from the
current Rs. 20 per crore of turnover.

This will result in reduc?on of overall cost of
transac?ons and will benet the investors and
promote the development of securi?es market
Ajay TYAGI 9TH SEBI CHAIRMAN - UK SINHA RETIRING)

Na5onal Payments Corpora5on of India (NPCI), the umbrella organisa5on for all
retail payment systems in the country has declared Rs. 54.90 crore worth of

prize money to over 3.42 lakh winners of NITI Aayogs Lucky Draw Schemes for
consumers and merchants.

The two schemes are - Lucky Grahak Yojna (LGY) and Digi-Dhan Vyapar Yojna
(DVY).
The schemes have total outlay of Rs 340 crore of which - Rs. 300 crores would be
spent on consumers and merchants while the remaining Rs. 40 crore on
awareness and publicity.

The schemes are aimed at incen5vising both consumers and merchants to
promote digital payments. There are 15,000 daily winners qualifying for total
prize money of Rs 1.5 crore.
In addi5on to this there are over 14,000 weekly winners qualifying for total prize
money of over Rs. 8.3 crore every week.

RuPay Card, BHIM / UPI (Bharat Interface for Money / Unied Payments
Interface), USSD based *99# service and Aadhaar Enabled Payment Service
(AePS)
BSNL launches Sanchar Aadhar for

Aadhar based eKYC and digital
customer engagement

BSNL has launched its pres?gious
Customer Acquisi?on and Customer
Communica?on Management (CACMS)

MYSURU PRINTING PRESS BREAKS RECORD BY PRINTING HIGHEST NO. OF
NOTES

The RBI Note Mudran prin5ng press in Mysuru has broken all its past record by
prin?ng highest number of currency notes in December.

10.9 million notes were printed on a single day, which he said breaks the
previous world record of 8.7 million notes printed in an American currency
prin?ng press.

Prin?ng wastage in America is 4 percent whereas in Mysuru press it has been
reduced to two percent.

The cost per currency prin?ng in America is four rupees, whereas in Mysuru
Press it is just 3 rupees and 40 paise, he added.


US$ 48 - Nagaland Health Project -
World Bank

The closing date of Nagaland health
Project is 31st March, 2023


Future Group's fashion and lifestyle
departmental store Central and SBI Card
today launched a co-branded credit card

Future Group CEO Kishore Biyani


The Insurance Regulatory and Development
Authority of India (IRDAI) has cons5tuted a
commiUee to review life insurance product
regula5ons.

Amitabh Chaudhry, Chief Execu5ve ocer,
HDFC Standard Life Insurance Company, has
been appointed as chairman of the eight-
member panel.

Indias richest 1 per cent now hold a huge 58 per cent of

the countrys total wealth
Oxfam Study
Just 57 billionaires in India now have same wealth (USD
216 billion) as that of the boUom 70 per cent popula5on
of the country.

The study said there are 84 billionaires in India, with a collec5ve wealth of USD
248 billion, led by Mukesh Ambani (USD 19.3 billion), Dilip Shanghvi (USD 16.7
billion) and Azim Premji (USD 15 billion). The total Indian wealth in the country
stood at USD 3.1 trillion.

The total global wealth in the year was USD 255.7 trillion, of which about USD
6.5 trillion was held by billionaires, led by Bill Gates (USD 75 billion), Amancio
Ortega (USD 67 billion) and Warren BueU (USD 60.8 billion).

IMF CHIEF CRISTINE LA-GARDE
Interna5onal Monetary Fund (IMF) lowered Indias
growth forecast for the year by a full percentage
point to 6.6%

IMF said it sees world growth of 3.4% this year and
3.6 % in 2018. The rst is unchanged from the
October es5mate.

IMF also expects Indias growth to pick up at a slower
pace in 2017-18, at 7.2%, against its earlier es5mate
of 7.6%.

Yes Bank launched Yes Fintech, a
business accelerator program in
collabora5on with
T-Hub a startup incubator set up by the
Telangana government and
Anthill a speed scaling playorm for early
growth stage start-ups.

Here are the latest RBI rules governing cash withdrawal
and deposits from ATMs and bank accounts as of 16

February:

-From 20 February, the weekly cash withdrawal
limit on savings accounts at banks branches will
be raised to Rs 50,000 from the current
Rs 24,000 per savings account.
-From 13 March, there wont be any limit on cash
withdrawal from savings bank accounts.
-All cash withdrawal limits from ATMs have been
removed.
-All limits on cash withdrawal vis--vis current
accounts has been removed.

The income tax department has asked
banks to report deposits in any account
aggrega5ng Rs10 lakh in a year, as well as
cash payments of Rs1 lakh or more on
credit card bills.
-The governments Specied Bank Notes
Cessa5on of Liabili5es Ordinance has made
holding of more than 10 junked Rs500 and
Rs1,000 currency notes a penal oence
punishable with a minimum Rs10,000 ne

- The RBI has kept limits on prepaid payments
services providers or e-wallets to load up to
Rs20,000, instead of Rs10,000 before. The
merchants can transfer funds from such
payment protec5on insurances, or PPIs, to
their own linked bank accounts upto Rs50,000
per month, without any limit per transac5on.
-Traders registered with the agricultural
produce market commiUee, or APMC, and
mandis can withdraw up to Rs 50,000 a week
from their current accounts.

-Addi5onal 60-day grace period for farmers to
repay their crop loans and avail 3% interest
subven5on. Farmers are allowed to withdraw
up to Rs 25,000 a week from their loan or
deposit accounts.

Karang, a small lake island in Manipur, has
become the countrys rst cashless island.

The Karang island is located in the middle of
Loktak, the largest freshwater lake in Northeast
India.


Thirty more countries have applied for joining the

China-sponsored Asia Infrastructure Investment Bank
The AIIB was officially established late last year with 57

founding members and with authorised capital of $100
billion.
China is the largest shareholder with 26.6% voting

shares. India is the second largest shareholder with 7.5%
followed by Russia 5.93% and Germany with 4.5%.


India is projected to grow by 7.7 per cent
in scal 2017 = United Na5ons

7.6 per cent in 2018


Punjab Na5onal Bank (PNB) signed MoU
memorandum of understanding with IPPB, it
will provide technology playorm for pilot
launch of India Post Payments Bank (IPPB).

IPPB will be headquartered in New Delhi


The Reserve Bank of India (RBI) imposed a
penalty of Rs 75 Crore on Bombay Mercan5le
Co-opera5ve Bank for viola5ons of norms
related to KYC and an5-money laundering.


The Union Cabinet chaired by the Prime Minister Shri
Narendra Modi has given its approval to exclude State
Governments States/UTs (with Legislature) except
Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh
from Na5onal Small Savings Fund (NSSF) investments
from 01.04.2016. It also approved providing a one-5me
loan of Rs. 45,000 crore from NSSF to Food Corpora5on
of India (FCI) to meet its food subsidy requirements.

Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh
will con5nue availing of NSSF loans

The Fourteenth Finance Commission (FFC) (YV REDDY)
recommended that State Governments be excluded from
the investment opera5ons of the NSSF. The NSSF loans
come at an extra cost to the State Government as the
market rates are considerably lower.

NSSF shall extend a part of its collec5ons to (FCI) to meet
its food subsidy requirement. This will help the FCI reduce
its interest cost. FCI presently takes working capital loans
through Cash Credit Limit (CCL) at an interest rate of
10.01% and Short Term Loan (STL) at a weighted average
interest rate of 9.40%, whereas the NSSF currently charges
8.8% p.a interest on its loans. This savings on interest rate
outgo will reduce the food subsidy burden of the
Government of India.
Kerala Gramin Bank - FI@School

Under the project, every branch of the bank has to
iden5fy and enter into a virtual 5e up with a school in
its locality preferably an upper primary school to
organise various programmes such as forma5on of
nancial literacy clubs, account opening camps at
schools, junior debit card distribu5on, nancial
literacy related classes, distribu5on of nancial
literacy booklets, compe55on on nancial literacy etc.

K.V. Shaji, Chairman, Kerala Gramin Bank


Centre and states have decided to TONE DOWN the

penal provisions to ensure a trader gets immediate
bail if the alleged tax evasion is up to Rs 2 crore.

The GST Council, at its last mee5ng, has decided
that the provision of arrest will be restricted to
forgery and non- deposit of collected taxes with
the exchequer within the s5pulated 5meframe.

Under the IPC 1860, forgery and chea5ng are non-
bailable oence, which means that bail can only be
granted by a court.

Government barred coopera5ve banks from accep5ng

deposits under Pradhan Mantri Garib Kalyan Yojana scheme.
Under this scheme those who is declaring has to deposit 25% of
the declared undisclosed income in an authorised bank as
no5es by the government.

Income Tax department observed that the banks were
suspected in conver5ng black money into white
"Applica5on for the deposit in the form of Bonds Ledger
Account shall be received by any banking company, other than
Co-opera5ve Banks, to which the Banking Regula5on Act, 1949
applies
Under PMGKY scheme the taxpayers are supposed to deposit
25% of the declared amount as interest free deposits for 4
years.
Dairy rm Kwality Ltd has signed an agreement

with Bank of Baroda for providing Rs 4,000 crore
loans to the former's one lakh farmers from whom
the company procures milk.

The company has a network of about 3.25 lakh
across about 4,500 villages in UUar Pradesh,
Haryana and Rajasthan which are amongst the
largest milk producing states of India.

The scheme is aimed at providing nancial
assistance to improve socio-economic lives of
farmers and steer them towards digi5sa5on.

Punjab Na5onal Bank (PNB) has launched a

Contactless Credit Card.

The new credit card has been named PNB
Wave N Pay

There is no need to enter any PIN for
transac5ons up to Rs 2,000.

Visa Pla5num playorm


Varanasi-based Utkarsh Micro Finance has started
opera?ng its banking business as Utkarsh Small Finance
Bank . UKs Commonwealth Development Corpora?on
(CDC) has infused Rs. 150 crore in the ?er II capital in the
company. (Mainly in North)

Suryodaya Micro Finance- Also started Operates mostly
in Maharashtra

Ujjvan small nance Bank and Capital Local Area Bank
limited - Jalandhar
( Capital Small Finance Bank ) Sarvajit Singh Samra
Equitas Small Finance Bank


To educate awareness on banking codes at grass
root level, The Banking Codes and Standards Board
of India (BCSBI) will organise know your rights
programme in all the states.

Anand Aras, CEO, BCSBI

With the opening up of innumerable Jan-Dhan
accounts and increased usage of formal and
transparent modes of nancial transac?ons

The government on Tuesday allowed the Na5onal
Bank for Agriculture and Rural Development to raise
20,000 crore for short-term crop loans to farmers at
lower rates.

The funds will be used for on-lending to coopera5ve
banks at an interest of 4.5 per cent.

Nabard will also coordinate the conversion of
opera5ve Kisan Credit Cards into RuPay or ATM-
enabled cards by coopera5ve banks and regional rural
banks.

France has issued its rst "green bonds" with a record

seven billion euro ($7.5 billion) sale, paving the way for
the establishment of a genuine market in renewable
energy bonds.

Proceeds from the 22-year bonds will be used to
nance projects to address climate change.

Poland was the rst country to enter the green
bond market

Reserve Bank prohibited Indian en55es from making

direct investments in any en5ty located in 'non co-
opera5ve countries and territories', as iden5ed by the
inter-governmental body FATF.

At present, there is no restric5on on an Indian en5ty
with regard to the countries where it can undertake
Overseas Direct Investment.
FATF was established in 1989. Its objec5ves are to set
standards and promote eec5ve implementa5on of
legal, regulatory and opera5onal measures for
comba5ng money laundering, terrorist nancing and
other related threats to the integrity of the
interna5onal nancial system.


State Bank of India (SBI) has launched SBI
Exclusif, its wealth management oering, in
Kochi.

SBI Exclusif is targeted at the fast-growing
auent segment and was launched in
Bengaluru and Delhi last year.

Karnataka Bank Ltd has signed a memorandum of

understanding (MoU) with the Rajkot-based Tirth
Agro Technology Pvt Ltd (manufacturer of
agricultural equipment and implements) for
nancing agricultural mechanisa?on.

P Jayarama Bhat, MD , CEO

Tirth Agro Technology Pvt Ltd manufactures
agricultural implements under the brand name
Shak?man


CASHe, loan giving app for young salaried
professionals, has partnered with Paytm to
deposit cash transfers from CASHe to their
Paytm wallets.

Aeries Financial Technologies Pvt. Ltd.,
V. Raman Kumar, Chairman


Future Generali India Insurance Company Ltd

(FGIL) has entered into a corporate agency ?e-
up for its products with Bank of Maharashtra
(BOM), a public sector bank.

Ravindra Prabhakar Marathe, Managing
Director & Chief Execu?ve Ocer, Bank of
Maharashtra
K.G. Krishnamoorthy Rao, MD & CEO, Future
Generali India Insurance


Lakshmi Vilas Bank(LVB) has 5ed up with Fisdom,
a n-tech startup to launch a nancial planning
playorm called Mission FINFIT for personal wealth
management services

Mr. Parthasarathi Mukherjee, MD & CEO, Lakshmi
Vilas Bank


Federa5on of Indian Chambers of Commerce
and Industry (FICCI)

Indian economy will grow 6.8 percent for the
year 2016-17

0.5 percentage points lower than the es5mate
of 7.3 percent put across in the last round.


India's largest LNG importer Petronet has
signed an agreement to set up a $950
million liqueed natural gas import
project in Bangladesh

Petronet signed a MoU with with
Petrobangla

Amazon has been awarded a patent for a giant

ying warehouse that acts as a launchpad for
drones to deliver items within minutes.

Airborne fulllment center" (AFC)

a drone or unmanned aerial vehicles (UAV)
will y down and deliver the package.


Solar power producer Azure Power is
commissioning 150 MW solar power project
in Punjab

Azure Power had signed a solar power
implementa5on agreement with Punjab Energy
Development Agency (PEDA)

Google has created two ini5a5ves My Business and Digital

Unlocked which have been introduced in India rst.

for the small and medium businesses in India

Google CEO Sundar Pichai

Google My Business would help small businesses set up
website from their mobile devices. All they need is a
smartphone

The tech giant also launched Digital Unlocked, an educa5on
programme in associa5on with industry body FICCI and
Indian School of Business. The programme will impart
mobile and online courses to help small businesses.


Government imposed an5-dumping
duty ranging from USD 6.30 to USD
351.72 per tonne on imports of jute and
its products from Bangladesh and Nepal
to protect domes5c industry

Directorate General of An5-Dumping and
Allied Du5es (DGAD)


Vedanta Group rm Hindustan Zinc Ltd (HZL)
has got environment clearance for its Rs
1,200 crore Zawar Mines expansion project in
Rajasthan.

Sarada district

Anil Agrawal Chairman, Vedanta


Centre banned import of rep5le skin and hides

adop5ng "cruelty free" alterna5ves to reduce
suering to animals.

The Directorate General of Foreign Trade
(DGFT)


Tata Motors and Castrol signed

three-year strategic partnership agreement for
supply of Commercial Vehicle Oils to Tata
Motors globally

Guenter Butschek CEO and Managing
Director, Tata Motors Limited,


Global business process management
company Genpact and Cisco on Monday
unveiled the "Global Centre of Excellence"
in Jaipur as part of Ciscos Lighthouse
City project, a global ini?a?ve designed to
deploy next-genera?on technologies to impact
ci?zens and society.


Lumhansa has become the rst carrier to
launch commercial opera5ons with Airbus
A350 to India

With this ight, India will become the rst
country in Lumhansas network to receive
commercial opera5ons by Airbus A350.


The World Bank has sanc?oned Rs 1,376

crore for complete Tripura Power
upgrada?on and improvement of the
power system network in the state


The Top Ten list of 2016 U.S. patent recipients

IBM 8,088
Samsung Electronics 5,518
Canon 3,665
Qualcomm 2,897
Google 2,835
Intel 2,784
LG Electronics 2,428
Microsom 2,398
Taiwan Semiconductor Manufacturing Co. 2,288
Sony 2,181


Atos, an interna5onal leader in digital services, and NASSCOM
Founda5on today jointly announced the launch of Na5onal
Digital Literacy Mission (NDLM) centers dedicated to training
and impar5ng digital literacy at Vadodara Gujarat. and search
the internet for informa5on among other things.

Digital Saksharta Abhiyan (DISHA) or also known as NDLM
Scheme.


Mahindra Asset Management launches
Mahindra Mutual Fund Dhan Sanchay Yojna
scheme


Fly For Sure scheme Launched by Air India
Spice Jet

Hehy Last-Minute airfares

State-run NTPC has signed a non-binding
agreement with Rajasthan Rajya Vidyut
Utpadan Nigam Ltd and Rajasthan Urja Vikas
Nigam Ltd for takeover of Chhabra Thermal
Power Plant.


Indian airline SpiceJet has agreed to buy up to
205 new planes from Boeing - poten5ally
worth $22bn

SpiceJet's chairman Ajay Singh


BHEL commissions 500 MW thermal unit in
West Bengal

to be commissioned at sagardighi thermal
power sta5on (TPS) phase II project in
Murshidabad district of West Bengal


The Compe55on Commission of India (CCI) has imposed
penal?es aggrega?ng to almost Rs 207 crore on seven
major cement companies for rigging of bids and
cartelisa?on to get tenders in Haryana government
orders.

Shree Cement, UltraTech Cement, Jaiprakash Associates,
JK Cement, Ambuja Cements, ACC and JK
Lakshmi Cement


Electronic commerce company Flipkart con?nues
to retain its apex posi?on as India's most trusted e-
commerce brand, in a na?onwide consumer study
?tled the 'The Indian E-tailing Leadership Index',
conducted by research rm Red Seer Consul?ng.

Flipkart, for the fourth ?me in a row


FreeCharge launched Mutual Funds on its
plajorm in partnership with Reliance Mutual
Fund

Completely paperless
Investments from Rs 100 onwards
Instant Redemp?on
Zero transac?on, Zero redemp?on charges
Online KYC

Top 5 Most innova5ve Company
1
Apple
2
Google
3
Tesla Motors
4
Microsoh
5
Amazon

According to the annual 50 Most Innova5ve Companies survey report
published by the
management consul?ng rm BCG (Boston Consul5ng Group),

UK-headquartered Vodafone India signed an
MoU with the West Bengal government to
invest Rs 3,000 crore for capacity augmenta5on
and new business ini5a5ves over next three
years.

Bengal Global Business Summit 2017


New Universal Rail Mill Worth Rs. 1200 crore
Inaugurated in Bhilai Steel Plant OF (SAIL)

Steel Minister Chaudhary Birender Singh


Telangana based Indias largest incubator for
start-ups, T-Hub has launched a GIS Innova5on
Hub (GIH) in collabora?on with Esri India for
the start-ups

Esri India is countrys leading Geographic
Informa5on System (GIS) sohware and
solu?ons


Boeing Corpora?on launched the
Boeing India Engineering &
Technology Center (BIETC) in
Bengaluru in a bid to enhance its
aerospace innova?on


MakeMyTrip has launched the rst ever
social luxury travel
magazine called 'Luxury Travel Times


Nokia Indian opera?on has bagged a contract
worth $500 million (Rs 3,650 crore) from

Vodafone for deployment and expansion of 4G
network in the country


Hindustan Petroleum Corp Ltd (HPCL) and GAIL
India Ltd signed a pact with Andhra

Pradesh for semng up a Rs 40,000 crore
petrochemical plant

Indias largest startup incubator to be built at
Hubballi

Gururaj Deshpande

Sandbox

Reliance Defence Signs Contract with Ministry

of Defence to Construct 14 Fast patrol
Vessels for Indian Coast Guard

Contract worth Rs. 916 crore

RDEL is the rst private sector shipyard which
has been awarded a contract of designing and
building such ships for Indian Armed Forces.


KSEZ, Subsidiary of GMR group Signs MoUs With
Firms to Set Up Manufacturing Units at Kakinada
SEZ

The MoU aimed at semng up World Class
manufacturing units at the Kakinada SEZ in Andhra

Pradesh spread over 8,500 acres at a cost of Rs.
47000 crore.


UberMOTO launches service in Hyderabad

American worldwide online transporta?on
network company Uber has launched two-
wheeler
aggrega?on service UberMOTO by Uber
Founder and CEO Travis Kalanick


A commiUee - on informa5on technology
examina5on and cyber security headed by
Meena Hemachandra
The Reserve Bank of India (RBI) has decided to
set up separate Enforcement Department to
eec5vely monitor banks in case they violate
regula5ons and speed up regulatory
compliance.

The department will be opera5onal from April
1, 2017 i.e. the next nancial year (2017-18).

The Monetary Policy

All six members of the MPC voted in favour of holding rates.

GDP growth in current scal - 6.9%.
GDP growth to 7.4% in 2017-18.

Policy Rates Repo rate under the liquidity adjustment facility
(LAF): Unchanged at 6.25 percent. Reverse repo rate under the
LAF: Unchanged at 5.75 per cent. Marginal standing facility
(MSF): Unchanged at 6.75 per cent. Bank Rate: Unchanged at
6.75 per cent. Reserve Ra5os Cash Reserve Ra5o (CRR) of
scheduled banks: Unchanged at 4.0 per cent of net demand
and 5me liability (NDTL). Statutory Liquidity Ra5o (SLR):
Unchanged 20.75 per cent.

Prime Minister Narendra Modi inaugurated
Indias rst interna?onal exchange India INX at
the Interna?onal Financial Service Centre (IFSC)
of GIFT (Gujarat Interna?onal Financial Tech)
City Gandhinagar, Gujarat.

India INX is a wholly-owned subsidiary of the
Bombay Stock Exchange (BSE).

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Banking Awareness January 2017 Part 1

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JANUARY + 15th FEBRUARY - Banking and

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Ajay TYAGI 9TH SEBI CHAIRMAN - UK SINHA RETIRING)

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The AIIB was officially established late last year with 57

China is the largest shareholder with 26.6% voting

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The World Bank has sanc?oned Rs 1,376

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