Saturday, 18 March 2017

Banking Awareness Capsule Update (January-February) 2017 for Upcoming Exams

1. The Reserve Bank of  India (RBI) has agreed to provide Rs 1 billion in Rs100 denomination notes to Nepal Rastra Bank (NRB) to ease the acute shortage of Rs100 notes faced by Nepal.

2. State-run UCO Bank has launched its ‘UCO Suvidha Prepaid Card’.R.K. Takkar, MD & CEO, UCO Bank.

3. IRA - Intelligent Robotic Assistant : HDFC Bank launched the first ‘humanoid’ in the domestic banking space. 

4. Robot ‘Lakshmi’ is launched by City Union Bank.

5. The World Bank decelerated India's growth for 2016-17 fiscal to 7 percent from previous estimate of 7.6. 7.6 percent in Fiscal Year (FY) 2018 7.8 percent in FY 2019-20.

6. The Bureau of Indian Standards (BIS) has revised the Indian Standard on gold hallmarking, effective from January 1,2017. Now, the hallmarked gold jewelry will be available in three grades of-
(1) 14 carat 
(2) 18 carat
(3) 22 carat 

7. Trade Credit Insurance Policy issued by HDFC ERGO General Insurance Company.

8. City Bank HQ – New York, USA Launches Voice Bio-metrics Authentication for Asia Pacific Consumer Banking Customers. First bank to roll out voice bio-metrics authentication across the Asia Pacific region.

9. NITI Aayog has estimated a growth rate of 8% for 2016-17.

10. 12th Five Year Plan of the Government of India from - 2012–17.

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

12. Recently in news abbraviation OIJIF stand for-  Oman India Joint Investment Fund.

13. BSNL launches “Sanchar Aadhar” for Aadhar based eKYC and digital customer engagement.

14. The Insurance Regulatory and Development Authority of India is IRDAI.

15. IPPB will be headquartered in New Delhi. Punjab National Bank (PNB) will provide technology platform for pilot launch of India Post Payments Bank (IPPB).

16. The Reserve Bank of India (RBI) imposed a penalty of Rs 75 Crore on Bombay Mercantile Co-operative Bank for violations of norms related to KYC and anti-money laundering.

17. Chairman of The Fourteenth Finance Commission is Dr. Y. V Reddy.

18. Punjab National 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 transactions up to Rs 2,000.

19. Reserve Bank of India prohibited Indian entities from making direct investments in any entity located in 'non cooperative countries and territories', as identified by the inter-governmental body FATF. Financial Action Task Force (FATF) was established in 1989. For more details visit here.

20. India's largest LNG importer Petronet has signed an agreement to set up a $950 million liquefied natural gas import project in Bangladesh. Petronet signed a MoU with with Petrobangla.

21. ‘Fly For Sure’ scheme Launched by Air India Spice Jet.

22. India’s first cashless township/society is Gujarat Narmada Valley Fertilizers (GNFC) township Bharuch (Population - 5,000).

23. Paytm Payments Bank Ltd founder is Vijay Shekhar Sharma.

24. Gujarat - first state in the country for establishing cashless distribution of food grains under Public Distribution System (PDS).

25. The Reserve Bank of India has allowed non-resident Indians to exchange scrapped Rs 500 and Rs 1,000 notes till June 30. (Indians - March 31, 2017).

26. Term 'FEMA' stand for- Foreign Exchange Management Act.

27. Students can view, apply and track the education loan applications made to banks anytime, anywhere by accessing the portal. was launched on August 15, 2015.

28. Head of Exam expected institutions-
  • Chief Economic Advisor Arvind Subramanian
  • RBI Governor Urjit Patel
  • Finance Secretary Ashok Lavasa
  • Economic Affairs Secretary Shaktikanta Das
  • Financial Services Secretary Anjuly Chib Duggal
  • Revenue Secretary Hasmukh Adhia
  • Disinvestment Secretary Neeraj Kumar Gupta
  • SEBI Chairman U K Sinha
  • IRDAI Chairman T S Vijayan
  • PFRDA Chairman Hemant G Contractor 

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