Banking Affairs | Financial Awareness March 2 2017

Read Digest of February Month’s Financial Affairs on a single course. Track your Learning progress. 20+ videos to boost your financial awareness.

 

7th Pay Commission: No hike in transport allowance, HRA to stay at 30 per cent

A week after the Committee on Allowances submitted its recommendations to Finance Minister Arun Jaitley, reports suggest that there will no hike in transport allowance for government employees in the 7th Pay commission. HRA also will stay at earlier 30% only.

 

SAIL gets first ever woman functional director

Soma Mondal has taken charge as Director (Commercial) of Steel Authority of India Limited (SAIL). Ms Mondal is the  the first ever woman functional director on the board of SAIL.

 

Sanjiv Singh appointed IOCL chief

Sanjiv Singh was appointed as Chairman of the Indian Oil Corporation Ltd (IOCL), the country’s largest commercial enterprise. The Appointments Committee of Cabinet approved his appointment to the post for a period of five years.

 

World Bank to invest $1 bn on railway, agriculture projects in Maharashtra

The world bank has agreed to make an investment of 1 billion dollars (Rs 7,000 crore approximately) as direct finance in Maharashtra on a railway augmentation project and a climate resilient agriculture project in the drought affected districts.

 

Virtual currencies pose real financial risk: RBI Deputy Governor R Gandhi

Reserve Bank of India Deputy Governor R Gandhi raised concerns over virtual currencies such as Bitcoin and said they pose potential financial, legal, customer protection and security-related risks. He said such digital currencies are not created by any authority but more and more people have started accepting them.

RBI sets up panel to review cyber threats

The Reserve Bank of India on Tuesday announced the formation of  Inter-disciplinary Standing Committee on Cyber Security. The 11 member committee which will be chaired by RBI ED Meena Hemchandra has been entrusted to review the threats emerging from the use of technology, study adoption of new technology standards and suggest appropriate policy interventions to strengthen cyber security and resilience.

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