Banking & Finance Current Affairs For Government Exams
Banking & Finance Current Affairs 2018 – Current Affairs Today
Banking & Finance Current Affairs 2018 read all the latest Banking & Finance Current Affairs Updates for 2018 at Postinfo.in. This is the right place to get quick updates of Latest Banking & Finance Current Affairs 2018 and events not only for the competitive exam but also for the Interview.
Indian Overseas bank receives Rs173 crores Capital Infusion From Government.
03 February 2018 Current Affairs :- Indian Overseas Bank (IOB) received Rs173.06 crore capital infusion from the government in the current fiscal.
In a regulatory filing, IOB has received Rs173.06 crore a the contribution of the central government in the preferential allotment of equity shares of the bank as Government’s Investment during the 2017-18 Fiscal.
Axis Bank Launches fourth edition of Evolve
31 January 2018 Current Affairs :- Private sector Axis Bank launched the fourth edition of ‘Evolve’ in Coimbatore, Tamil Nadu. It is an annual multi-city knowledge series for Bank’s small and medium-sized enterprises (SME) customers.
- The current edition of ‘evolve’ is titled as “Transform your Family Business into your dream company”.
- It will empower the SMEs to understand the winning strategies and best practices that have helped some of the leading family businesses in India grow into the reputable enterprise.
- This edition will span across 30 cities.
Economic Survey 2018: Complete Analysis Report
30 January 2018 Current Affairs :- The Economic Survey, an annual publication of the Finance Ministry, is presented in both houses of Parliament during the Budget Session. It is a review of the developments in the country’s economy over the previous one year.
- Sticking to the practice started last year, finance minister Arun Jaitley will present Union Budget 2018 on 1 February.
- It presents a summary of the performance of the government’s major development programmes undertaken during that period.
- It also details the main policy initiatives of the government.
- The Survey sees FY19 GDP growing 7-7.5% vs 6.75% in FY18.
The Due to higher expected increase in imports, net exports of goods and services are slated to decline in 2017-18.
- The Exports biggest source of the boost to growth.
It points out that the GDP growth has averaged 7.3% for the period from 2014-15 to 2017-18, which is the highest among the major economies of the world.
Demonetisation helped share of financial saving to rise.
- The ratio of domestic saving to GDP reached 29.2 percent in 2013 to a peak of 38.3 percent in 2007, before falling back to 29 percent in 2016.
The Sanitation coverage in rural India increased substantially from 39 percent in 2014 to 76 percent in January 2018. With the launch of Swachh Bharat Mission (Gramin) on October 2, 2014, the sanitation coverage in rural India increased substantially.
So far, 296 districts and 307,349 villages all over India have been declared Open Defecation Free (ODF).
India is gradually improving its performance in Science and Technology. In 2013, India ranked 6th in the world in scientific publications. Its ranking has been increasing consistently. The growth of annual publications between 2009 to 2014 was almost 14%. This increased India’s share in global publications from 3.1% in 2009 to 4.4% in 2014 as per the Scopus Database.
- The foreign exchange reserves grew by 14.1% on a year-on-year basis from the end of Dec 2016 to end of Dec 2017.
The forex reserves as per 2016-17 were estimated at USD 370 billion. It grew to USD 409.4 billion in 2017-18.
Paytm, Alibabas AGTech Holdings Launch New Mobile Gaming Platform
30 January 2018 Current Affairs :- Mobile payments company Paytm and Alibaba Group-owned AGTech Holdings Ltd have formed a joint venture to launch ‘Gamepad’ a gaming platform aimed at mobile users in India.
- The joint venture between Alibaba’s AGTech Holdings and Paytm was originally signed in July 2017.
AGTech Media currently holds 45% in the joint venture, and Paytm owns the rest.
At the time of the signing of the agreement, Paytm’s parent company One97 invested $8.8 million in the venture for its 55% stake, and AGTech Holdings put in $7.2 million for its 45% stake.
Small Finance Banks and Payment Banks to offer Atal Pension Yojana
27 January 2018 Current Affairs :- Payments Banks and Small Finance Banks are a New Model of banks conceptualized by the Reserve Bank of India (RBI).
11 Payment Banks and 10 Small Finance Banks have received a license from Reserve Bank of India to start banking operations in India.
Small Finance Banks and Payment Banks are new age banks and given the strength of the bank, expertise and it reaches, Small Finance Bank and Payment Bank can play a pivotal role in the outreach of 83 lacs subscribers under Atal Pension Yojana (APY).
APY is a Government’s Old Age Pension Scheme being implemented through all Banks across the country as per the mandate received from the Ministry of Finance and monitored periodically at PMO. PM Narendra Modi had launched the Social Security Scheme on May 9th, 2015 and dedicated the First Ever Guaranteed Pension Product to the people of the country.
Following are the banks that have started banking operations:
- Ujjivan Small Finance Bank.
- Janalakshmi Small Finance Bank.
- Equitas Small Finance Bank.
- A U Small Finance Bank.
- Capital Small Finance Bank.
- ESAF Small Finance Bank.
- Utkarsh Small Finance Bank.
- Suryoday Small Finance Bank.
- Fincare Small Finance Bank.
- Paytm Payment Bank.
- Airtel Payment Bank.
- India Post Payment Bank.
- Fino Payment Bank.
IOB and NHB Tie Up For Rural Housing Push
25 January 2018 Current Affairs :- Indian Overseas Bank signed a MoU with National Housing Bank for the Rural Housing Interest Subsidy Scheme (RHISS) of the Ministry of Rural Development.
The main aim of the RHISS is to prove a subsidy for housing loans taken by those living in rural areas for construction and modifications of their dwelling units.
The interest subsidy under the scheme is 3 per cent for a loan amount of Rs2 lakh for 20-year tenure.
Indian Overseas Bank has become one of the first public sector banks to implement the scheme.
The subsidy is offered at three per cent for a loan amount of Rs. 2 lakh and with a loan tenure of 20 years.
Mauritius Largest Source of FDI in India – Reserve Bank of India
21 January 2018 Current Affairs :- Mauritius was the largest source of foreign investment in India (21.8 percent share at market value), followed by the US and the UK, according to a census by the Reserve Bank of India.
Singapore and Japan were the next two sources of foreign direct investment (FDI), reported the Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17, released by RBI.
HDFC Bank Becomes 1st Indian Bank to Cross Rs5 trillion Market Capitalisation
19 January 2018 Current Affairs :- India’s most-valued lender HDFC Bank Limited crossed Rs5 trillion capitalization action for the first time, making it only the third Indian company to achieve this milestone.
- In intraday trade, the stock touched a fresh record high of Rs1,53.75 on the BSE, up 3.31% from its previous close.
Tata Consultancy Services Ltd (TCS) and Reliance Industries Ltd (RIL) are the other two companies which crossed market capitalisation of Rs 5 Trillion.