Important Financial and Banking Affairs 24th March with PDF download

1. MoU between Assam govt and SBI

• A MoU was signed between Assam govt and SBI to provide Housing and Educational Loan at subsidised interest rates to the employees of the state govt.
• The Assam Govt will provide interest subsidy at the rate of 3.50% for a housing loan and at a suitable rate to make education loan at 4%. Accordingly, the state govt employees will get the substantial benefit in terms of interest rates and reduced EMI.

2. Sindhu, the brand ambassador of Pepsico

• PepsiCo has roped in Rio Olympic silver medallist PV Sindhu as brand ambassador for its sports drink Gatorade.
• It also has plans to have Sindhu work with the Gatorade Sports Science Institute during the period of partnership to better understand her training and match-day nutrition.
• Sindhu became the 1st Indian woman to win an Olympic silver medal in 2016.

3. Science Cities Set Up by Min. of Culture

• The following Science Cities have been set up by Ministry of Culture through National Council of Science Museums (NCSM), an Autonomous Organisation under the Ministry of Culture- (i) Science City, Kolkata (ii) Regional Science City, Lucknow
• The Science Cities Scheme provides for setting up of Science Cities in all the states of the country subject to availability of funds for this purpose.

 

4. RBI proposes 1-lakh upper limit on PPIs

• RBI has proposed to fix the upper limit of the amount stored in pre-paid payment instruments (PPIs), including smart cards and mobile wallets, at Rs 1 lakh.
• According to the RBI’s new draft norms for PPIs, an amount in a PPI should not exceed Rs 1 lakh at any point of time if the customer provides full KYC and Rs 20,000 if the customer provides minimum KYC details to the PPI issuing entity.

5. Asia’s longest bidirectional road tunnel

• `PM Modi will dedicate to the nation, Asia’s longest bi-directional road tunnel on the Jammu-Srinagar National Highway on the 2nd of next month.
• The nearly 11-km long state-of-the-art tunnel will cut down travel time between Jammu and Srinagar by 2 hours.
• The road distance from Chennai and Nashri will now be 10.9 km, instead of the existing 41 km.

 

6. IIT-Kharagpur To Get Supercomputing

• The IIT, Kharagpur, is the first academic institution to get a supercomputing facility under the National Supercomputing Mission (NSM).
• This will provide large computational support to users to carry out both research and teaching activities.
• Supercomputing capacity and capability in the country with an estimated budget of Rs. 4,500 crore over a period of seven years

7. Amendments to the NABARD Act, 1981

• Union Cabinet has approved Amendments to the NABARD Act, 1981.
• Transfer of 0.4 per cent. equity of RBI in NABARD amounting to Rs. 20 crores to the Government of India.
• The proposed amendments in NABARD Act, include certain other amendments including changes in long title and certain Sections to bring Medium Enterprises and Handlooms in NABARD’s mandate.

8. India and ADB Sign $350 Million Loan

• The Asian Development Bank (ADB) and the Government of India signed here a $350 million loan for improving about 1,500 km of major district roads in Madhya Pradesh.
• The Project will involve upgrading roads with concrete pavements, strengthening culverts and bridges, and maintaining the improved road assets for a period of five years after construction, on a performance based payment format.

9. Amendment to ‘The Right to Education Act

• Cabinet has approved the amendment to Right of Children to Free and Compulsory Education (RTE) Act, 2009.
• This will ensure that all teachers, in position as on 31st March 2015, acquire the minimum qualifications prescribed by the academic authority to extend the period for such training for four years up to 31st March 2019.
• The RTE Act, 2009, is effective from 1st April 2010.

10. Mahila Coir Yojana

• The Coir Board is implementing Mahila Coir Yojana (MCY) exclusively for empowering women in the country by giving training and distribution of coir processing equipment.
• This is a 100% women oriented programme intended to provide self-employment to the rural women artisans in coir producing regions.
• The training under MCY is conducted through all training centres of the Board.

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