Banking Awareness 03rd December 2016 | Financial Affairs 03rd December 2016

BoB raises Rs. 1,000 crore

State Bank of Travancore eyes Rs. 600cr

• Public sector player Bank of Baroda has raised Rs. 1,000 crore by issuing bonds that are compliant with global capital adequacy norms or Basel III.
• The bank has issued and allotted bonds with issue size of Rs. 1,000 crore on December 2, 2016, it said in a regulatory filing.

Vadodara

Headquarters of bank of Baroda.

ATMs must be exempted from excise duty, says NCR India MD

Expanding ATM is the base key to financial inclusion

• Navroze Dastur, Managing Director, NCR India said that the Centre should extend excise duty exemption to ATM manufacture on the lines of the one extended to Point-of-Sale (PoS) machines.
• India has about two lakh ATMs, of which, nearly one lakh have been sourced from NCR India.

13 per cent

ATMs attract excise duty.

MFIs see improvement in repayments

Collections hit a low after demonetisation was announced

• After the initial slump in collections and disbursements, micro-finance institutions (MFIs) are now looking at a “much improved” scenario, nearly three weeks since demonetisation.
• Vested interests here are asking borrowers not to repay and seek waivers, yet again citing demonetisation as a reason.

Devendra Fadnavis

Chief Minister of Maharashtra.

Airtel Payments Bank to offer talk-time on new savings account

To get one minute of talk time on their mobile for every rupee deposited

• Airtel Payments Bank, the first payments bank in India to go live and said that any customer opening a savings account with it, will get one minute of talk time on his/her Airtel mobile for every rupee deposited.
• The offer will be valid from Airtel to Airtel mobile minutes with a validity period of 30 days.

Rajasthan

Airtel Payments Bank has rolled out pilot services.

Renewable energy firms seek compensation for backing down

MNRE to take up issue with Power Ministry

• The government is examining a request from renewable power producers to compensate them for cutting down generation at the behest of electricity distribution utilities.
• An industry official privy to discussions with the government told that the Ministry of New and Renewable Energy (MNRE) is in favour of this proposal. MNRE now proposes to take it up with the Power Ministry.

₹5/unit and above

8000 MW solar power generation capacity is sold at ₹5/unit and above.

Chitra Ramkrishna quits as NSE CEO

Ravichandran will be the interim chief

In a surprise move, Chitra Ramkrishna quit as managing director and CEO of the National Stock Exchange with immediate effect presumably over differences with some board members, after having served the premier bourse for over two decades since its inception.

Chitra Ramakrishna

First woman managing director and chief executive officer of the NSE

Paytm, ItzCash, RazorPay and PayU making unexpected business opportunity

E-Wallet companies sees growth

It has been an extremely busy period for the fintech industry right from the night of November 8, when the prime minister announced demonetisation of high-denomination currency notes. For companies in the sector, it was a boon.

Rewards for bank staffs

• Reward for working over-time
• Non-monetary rewards
• Extra leaves

Dispel perception of biased allocation of notes: RBI to banks

Proper allocation of money to various branches

• The Reserve Bank of India (RBI asked the banks which run the currency chests to dispel the perception of being biased in favour of their own branches while distributing currency notes.
• Banks with currency chests are advised to make visible efforts to dispel the perception of unequal allocation among other banks and their own branches.

Currency Chest

4,075 currency chest available in India.

Rs. 152 cr. unearthed in 3 days; two Karnataka officials suspended

Disproportionate assets found with two PWD chief engineers.

A whopping Rs. 152 crore unaccounted income, including a huge stash of new notes, bullion, jewellery, and documents pertaining to property ownership, have been seized on the premises of two chief engineers of the PWD and contractors, by the I-T officials over the last three days.

Public Works Department chief engineers

• S.C. Jayachandra
• T.N. Chikkarayappa.

To Read General Awareness

General Awareness 03rd December 2016 | Current Affairs 03rd December 2016

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