Important Financial and Banking Affairs 23rd March with PDF download

Hello friends, This is the Updates of Banking Affairs  23 March 2017. This will helpful for tackling Banking awareness section in SBI, IBPS, SSC, UPSC Exams.

1.4 Indian cities among cheapest globally

• Four Indian cities are among the cheapest to live in globally, while Singapore has been ranked as the most expensive for the 4th consecutive year, as per a report by Economist Intelligence Unit (EIU).
• Bangalore (3rd), Chennai (6th), Mumbai (7th) and New Delhi (10th) have been ranked by EIU among the 10 cheapest cities in the world.

 

2.Assam Government approves recommendation of 7th Pay Commission

• The Assam state cabinet has decided to implement the recommendation of the Seventh Pay Commission.
• The implementation will make state exchequer bear an additional burden of over Rs. 3000 Crore in the next financial year and the proposed pay structure would come into effect from 1 April 2016.

 

3.Indian-American to get top judicial post

• Amul Thapar, an Indian-American legal luminary, has been nominated by US President Donald Trump to a key judicial position on the powerful US court of appeals.
• Thapar, 47, who in 2007 became the 1st South Asian Article III judge when he was appointed as a US District Judge for the Eastern District of Kentucky, is the first Indian-American to be nominated by Trump for the top judicial post.

 

4.Aadhaar mandatory for crop insurance

• The Maharashtra govt has made Aadhaar mandatory to farmers for availing crop insurance schemes from the next Kharif season.
• State Agriculture Dept. said farmers will now have to link bank account with the Aadhaar number before June this year to avail crop insurance schemes.
• It added that the scheme is applicable to food grain and horticulture sectors.

 

5.Madhabi Puri appointed as Sebi Member

• Madhabi Puri Buch was appointed as a Whole-Time Member of capital markets regulator SEBI.
• She is founder-director of Agora Advisory Pvt Ltd and currently at the New Development Bank in Shanghai, China.
• Buch has been appointed to the Securities and Exchange Board of India (SEBI) post for a period of three years, an order issued by the Personnel Ministry said.

 

6.USTTAD Scheme

• It was launched by Min. of Minority Affairs in Varanasi, UP in order to improve degrading conditions of Banaras Saree weavers who belong to minority communities.
• The Scheme aims at upgrading Skills and Training of minority communities by preservation of traditional ancestral Arts and Crafts.
• It is fully funded by Union Govt and Min. of Minority Affairs is nodal agency in implementing it.

 

7.Hudco gets Sebi approval to float IPO

• State-run Hudco has received capital markets regulator Sebi’s approval to raise funds through an initial share sale as part of the govt’s disinvestment drive.
• The govt holds 100% stake in the company.
• Initial public offering (IPO) in which shares of a company usually are sold to institutional investors that in turn, sell to the general public, on a securities exchange, for the first time.

 

8.ABB bags award for Sharavathi plant

• ABB India has restored and modernised the critical 1,035 MW Sharavathi hydropower plant in Karnataka that accounts for 25% of Karnataka Power generation.
• The Sharavathi project is an example of ABB’s future-ready technologies enabling the Industrial Internet of Things.
• For restoring the crucial power infrastructure, the ABB has bagged the The India Smart Grid Foundation innovation award.

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