1.‘Woman mutual fund managers rare in India’
Women fund managers account for only 7% of the total number of managers in India’s mutual fund industry even though the sector has been in existence for more than 50 years, if one takes into account the introduction of Unit Trust of India (UTI) in 1963. A recent study shows that these numbers are much lower than in other financial centres like Hong Kong and Singapore.
2. Canara Bank bags medals at PR Council’s communication conclave
- Public sector Canara Bank has won a number of medals in the Collateral Awards Category at the 11th Global Communication Conclave held in Bengaluru by the Public Relations Council of India (PRCI).
- The bank won a gold medal for a radio jingle and silver medals for Corporate Film and Brochure (CSR).
- It won bronze medals for its in-house magazine (regional language), corporate advertisement – print, table calendar – 2017 and Big Diary 2017.+
3. IDFC launches Aadhaar Pay
- IDFC Bank has become the first bank to launch the biometric-based payment system Aadhar Pay through its network.
- The bank aims to onboard anywhere between 50,000-75,000 merchant to the Aadhaar pay module in the next two years with a total target of touching 1,00,000 merchants over the next 36 months or three years.
4. HDFC Bank launched chatbot Eva for customer services
- Mumbai-headquartered HDFC Bank has launched India’s first artificial intelligence based banking chatbot Electronic Virtual Assistant (EVA) for customer services .
- Eva is India’s first AI-based banking chatbot and can answer millions of customer queries across multiple channels instantly. It can assimilate knowledge from thousands of sources and provide answers in simple language in less than 0.4 seconds.
5. Trademark Rules, 2017 Notified: Forms Reduced From 74 To 8, Fee Increased
The Department of Industrial Policy and Promotion (DIPP) on Monday notified the Trademark Rules, 2017. The Rules bring about two major developments- they slash the number of trademark application forms from 74 to 8, and hike the fee for trademark application
6. OPPO wins Indian cricket team sponsorship rights for five years
The Board of Control for Cricket in India (BCCI) has announced that mobile manufacturing company Oppo Mobiles India Private Limited will be the new team sponsor of the Indian cricket team from April 1, 2017 for a period of five years.It has replaced Star India.
7. Ministries told to speed up schemes
- Union Budget 2017-18 before the beginning of the new financial year, Finance Minister Arun Jaitley on 7th March 17 asked ministries to gear up for speedier implementation of different schemes under their watch.
- The Finance Minister stressed on the challenges ahead for the government as a whole to ensure that expenditure on schemes and projects starts from the beginning of the financial year to leverage the early passing of the Budget.
8. India first in bribery rate, says global NGO
India had the highest bribery rate among the 16 Asia-Pacific countries surveyed by Transparency International between July 2015 and January 2017, with nearly seven in 10 people who had accessed public services in the country during the period paying a bribe. As much as 69% of the study group in India said they had paid a bribe, given a gift or done a favour to receive services. Vietnam follows with 65%, Thailand 41% and Pakistan 40%. China reported a much lower 26%.
9. Commonwealth card mooted
Chairman of the Commonwealth Enterprise and Investment Council said that Commonwealth nations could consider a scheme similar to the Business Travel Card scheme, used across the Asia-Pacific Economic Cooperation (APEC) forum, as a means of promoting intra-Commonwealth trade and investment.
His comments come ahead of the inaugural Meeting of Commonwealth Trade Ministers in London on March 9-10, convened by the CWEIC, and the Commonwealth Secretariat.
The post Banking Affairs 8th March 2017 | Financial Affairs 8th March 2017 appeared first on Exambin | IBPS SSC UPSC Preparations.
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