Banking Awareness updates for April 6th , 2017 – Financial Affairs for IBPS, SBI, SSC Exams

Hello friends, This is the Updates of Banking Awareness – April 6 2017. This will helpful for tackling Banking awareness section in SBI, IBPS, SSC, UPSC Exams.

1ICICI Bank offers access to DigiLocker

The Bank offering service free of cost.

ICICI Bank announced the integration of its retail Internet banking with ‘DigiLocker’, an online repository on cloud.

DigiLocker is an initiative of the Ministry of Electronics & Information Technology.

ICICI Bank is offering this service free of cost.

Banking

2African Development Bank Meet

52nd annual meeting will be held in Ahmedabad

With Africa taking the centre-stage in terms of trade and investment, India will host 5-day annual meeting of the African Development Bank in Ahmedabad.

The 52nd annual meeting will be held on May 22-26.

India joined the African Development Bank in 1982.

Banking

3WTO sets up panel to resolve steel dispute with India, Japan

Japan, is the second largest steel producer in the world

The WTO’s dispute settlement set up a panel to resolve the dispute between Japan and India over imposition of safeguard import duty on iron and steel products.

Japan in December 2016 dragged India to the WTO against certain measures taken by New Delhi on imports of iron and steel products.

Japan, which is the second largest steel producer in the world, had alleged that duties imposed on steel imports by India violates WTO trade norms.

International

4RBI License to Aditya Birla Group to start payments bank

$41 bn MNC with 36 branches and 120000 employees working

Aditya Birla Group is the seventh entity to receive final license to start their payments bank from the Reserve Bank of India. Coming to the details of the company, it is a $41 billion multinational company with 36 branches and 120000 employees working in it. The company takes over the business in various interests like metals, chemical, telecom, cement, wind power, and e-commerce.

Banking

5India in the 3rd position in WADA doping charts

Rs. 17.10 lakh crore collected

World Anti-Doping Agency publishes a report on the doping violation. As per the reports, India is in the 3rd position after testing positive for banned substances. The top position is Russia and next position is Italy.

Finance

6Rs. 200 notes proposal cleared by the Reserve Bank of India

Cash crunch after the demonetization of Rs. 500/- and Rs. 1000/-

The Reserve Bank of India has cleared the new proposal to introduce Rs. 200/- notes. The process of producing the 200 rupees notes will begin from June 2017 after receiving the approval from the Central government. This decision has been taken to reduce the cash crunch after the demonetization of Rs. 500/- and Rs. 1000/- currency notes.

Banking

7YES Bank reached $1 billion at the GIFT City

Private sector lender Yes Bank

Private sector lender Yes Bank reported $1 billion on its balance sheet at the IFSC Banking Unit (IBU) in Gujarat International Finance Tec City (GIFT). The bank has become the first to achieve milestone of $1 billion mark at the GIFT City.

Finance

8India and Bangladesh entered into MoU

for fairway development

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved MoU between India and Bangladesh for fairway development of Ashuganj-Zakiganj stretch of Kushiyara river and Sirajganj-Daikhawa stretch of Jamuna river in the Indo-Bangladesh protocol route by undertaking necessary dredging jointly by the two countries.

International

 

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