Banking Awareness 03rd January 2106 | Financial Affairs 03rd January 2016

Rupee depreciated by 5 paise against US dollar on 1st trading day of 2017

 Five paise in early trade today to quote at 67.97

The rupee depreciated by five paise in early trade today to quote at 67.97 against the US dollar on the first trading day of 2017 due to fresh buying of the American currency by importers at the Interbank Foreign Exchange.

Benchmark

BSE Sensex fell 132.37 points to 26,494 in early trade.

SBI cuts lending rate

lending towards poor and lower middle class by 90 bps

A day after Prime Minister Narendra Modi asked banks to priorities lending towards poor and lower middle class, country’s largest lender SBI today cut benchmark interest rate across various maturities by 0.9 per cent.

Other banks reduce benchmark rate

• State Bank of Travancore
• IDBI.

  FPIs in exit mode for 3rd month.

  Pull out USD 4 billion in December
  

• Foreign funds pulled out a massive 4 billion dollars, from the Indian capital market in December, following rate hike by the US Federal Reserve.
• Net withdrawal by Foreign Portfolio Investors from equities stood at 8,176 crore rupees in December.

43,645 crore rupee

Amount full out in debt market.

RBI extends period of enhanced Prepaid Payment Instruments limit

Rs 20,000 as part of efforts to promote digital payments.

• Reserve Bank today extended the period of enhanced Prepaid Payment Instruments (PPI) limit of Rs 20,000 as part of efforts to promote digital payments.
• RBI said in a notification today that keeping in view that Bank is undertaking a comprehensive review of the guidelines and framework for PPI issuance in the country

PPI operating banks

47 non-bank entities and 45 banks are operating payment system.

BSNL introduces unlimited calls

Unlimited local, STD calls at Rs. 144

Cashing in on the rollout by several telecom operators offering unlimited free call facility, Bharat Sanchar Nigam Ltd joined the bandwagon with the introduction of a new Rs. 144 plan for its customers offering similar features.

4,400 WiFi hotspots

Initializing such no of wifi hotspots.

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