Financial Awareness for SBI Clerk Exam Set-1

Financial Awareness

Hi Friends,As You all know banking and Financial awareness will be very important for the upcoming SBI Clerk Exam.As It is Combined with General Awareness a total of 50 marks which will increase your score .In the competitive exams,even a single number matters,So please prepare this topic with us as this topic is easy and you can grab maximum marks in this topic if you prepare it well.So Here is the Financial Awareness for SBI Clerk Exam Set-1:

Financial Awareness for SBI Clerk Exam

1. RBI cancels registration of 22 NBFCs

Reserve Bank of India (RBI) has cancelled registration of 22 non-banking finance companies (NBFCs) including Amazon Capital and Mascot Commerce.

2. Boost for e-commerce as Centre permits 100 per cent FDI in online market places

The government permitted 100% foreign direct investment (FDI) under the automatic route for retail trading, or B2C (business-to-consumer) transactions, in the marketplace model of e-commerce.

3. Swavalamban subscribers can switch to APY: PFRDA

Subscribers of micro-pension scheme ‘Swavalamban’, which closes on March 31, can switch to the ‘Atal Pension Yojana’ (APY) and retain the government’s co-contribution.Under the scheme, the government contributes Rs 1,000 per year to each NPS account for the first four years.

4. Gujarat to set up country’s first organic farming university

In 2016-17 state annual budget; state government has allocated a fund of 10 crore rupees towards the university.  It also took steps like setting up of a cell to implement its new organic farming policy. 

5. ADB, USAID to assist developing Solar parks in India

The US Agency for International Development (USAID) and Asian Development Banktoday signed a pact for providing Rs 5,681 crore (USD 848 million) to develop solar parks across India, as part of clean energy infrastructure in the country.

6. Indian-American appointed as President, CEO of Bank of the West

Indian-American Nandita Bakshi has been appointed the President and Chief Executive Officer (CEO) of Bank of the West, a subsidiary unit of French banking giant BNP Paribas.

7. ONGC to invest $5 billion to develop KG basin deepwater block

The ONGC board has approved a $ 5.076-billion field development plan for a portion of its deepwater oil and gas block in the Krishna-Godavari basin on the east coast.

8. Jeff Bezos top Fortune’s Greatest Leaders List

9. India’s forex reserves reach all time high

India’s forex reserves jumped by $2.5 billion to reach a record high at $355.9 billion for the week that ended on March 18, the Reserve Bank of India said on Friday in its weekly statistical report.The previous high stood at $355.4 billion reported on June 27 of last year 

10. New BRICS-supported bank approves first loans

A new multilateral lender set up by the BRICS nations has approved its first set of loans valued at 811 million US dollars for renewable energy projects in four of its member countries.According to a statement, the first group of projects approved by the bank’s board are in the area of green and renewable energy.

11. Centre to increase monthly minimum wages to 10,000 rupees for contract labourers

Union Labour Minister Bandaru Dattatreya has said that the government has decided to bring out an executive order to increase minimum wages to 10,000 rupees per month for contract labourers across the country.

12. Jharkhand Government launches Bhimrao Ambedkar Awas Yojana for widows

It was launched by Chief Minister Raghubar Das on the occasion of 125th birth anniversary of Dr. B R Ambedkar.The scheme (Yojana) aims at building 11000 units (houses) for widows in 2016-17 financial year with the budgetary allocation of 80 crore rupees.Under it, beneficiaries would get an amount of 75000 rupees to build a house in hilly terrains districts and 70000 rupees in plains area.

13. India to get $250m for renewables from New Development Bank

The New Development Bank, the latest multilateral funding institution in the financial world, has sanctioned a $250 million loan for India to fund its ambitious scheme on new and renewable energy.

14. India offers to invest $20 billion in oil and other projects in Iran

 India has offered to invest up to $20 billion in oil, petrochemicals and fertiliser projects in joint ventures with Iran if Tehran provides land and cheap gas, even as there is no sign yet of an agreement on the long-pending rights to develop Farzad-B gas field in the Persian Gulf discovered by staterun ONGC Videsh.

 15. RBI gave in-principle approval to Airtel payments bank

Reserve Bank of India (RBI) has granted the first payments bank license to Airtel M Commerce Services (AMSL) which is a subsidiary of Bharti Airtel.All companies, which received in-principle approval from RBI in August, will have to make their banks operational by March 2017.

16. India world’s largest remittance recipient in 2015: World Bank

In its annual report Migration and Development Brief, World Bank said, India retained its top spot in 2015, attracting about 69 billion US dollars in remittances, down from 70 billion in 2014.

17. Interest rates for NSSF loan to Centre, states cut to 8.8%

The government has slashed interest rates on loans from the National Small Savings Fund (NSSF) to 8.8 per cent from 9.5 per cent for FY17.All the funds collected from small savings such as National Small Savings Certificate,Kisan Vikas Patra (KVP), Public Provident Fund (PPF) and Senior Citizens’ Savings Scheme (SCSS) is deposited in the NSSF.

18. Nauru becomes 189th member of IMF, World Bank

The Republic of Nauru, a tiny South Pacific island nation in Pacific Ocean became the 189th member of the International Monetary Fund (IMF) and World Bank.

19. Vijay Shekhar Sharma appointed chairman of IAMAI payments banks group

 Industry body Internet and Mobile Association of India, has appointed Paytm founder Vijay Shekhar Sharma, chairman of its the newly formed payments banks group.Vodafone India business head(M-Pesa)Suresh Sethi, will be the vice-chairman of the group.

20. India may expand by 7.7% in fiscal year 2017: Fitch

Fitch Ratings expects India to be on the top of the global growth ladder and expanding by 7.7 per cent in the current fiscal.Growth is expected to gradually accelerate to 7.7 per cent in FY17 and 7.9 per cent in FY18,” Fitch Ratings said in its India-Global Economic Outlook (GEO) Forecast.

21. Postal department to launch payments bank by January 

The Department of Post will launch its payments bank by January next year and top management of the new-age venture would be in-place by July.

22. India to notch up to 7.5 pc growth in 2016–17: IMF

MF in its latest, World Economic Outlook report said, India’s growth is projected to notch up to 7.5 per cent in 2016-17, overtaking China’s GDP by more than 1 per cent.

23. India, Germany sign pact on Ganga Rejuvenation

The project duration is three years from 2016 to 2018 and the German contribution in the project will be to the tune of 22.5 crore rupees. 

24. Central govt employees get 6 per cent DA hike from Jan 1

Dearness allowance (DA) for central government employees has been hiked to 125 %of basic pay, up by 6 percentage points, with effect from January 1, 2016.The Centre revises DA twice a year on the basis of one year average of retail inflation for industrial workers as per a pre-determined formula.

25. Nita Ambani most powerful businesswoman in Asia: Forbes

SBI Chairman and Managing Director Arundhati Bhattacharya has been rankedsecond.

26. RBI cuts repo rate by 25 basis points to 6.5%; Keeps CRR unchanged

The Reserve Bank of India (RBI) has cut down key interest rates repo rate by 25 basispoints to 6.50 per cent from 6.75 per cent in its first bi-monthly monetary policyreview for the 2016-17 fiscal.

27. DCB Bank launches India’s first Aadhaar-based ATM

DCB Bank has launched, India’s first of its kind Aadhaar-based Automatic Teller Machine (ATM) in Mumbai. It is a card less and PIN less ATM,customers can transact using hisbiometric details instead of the PIN.

28. Modi launches ‘Stand Up India’ scheme 

The scheme is intended to promote entrepreneurship among Scheduled Castes,Schedule Tribes and women will involve loans ranging from Rs. 10 lakh to Rs. 1 crore.

29. India ranks 6th in 2015 top-10 manufacturers list: UNIDO report

India has been ranked sixth among the world’s Top-Ten largest manufacturing countries in the United Nations Industrial Development Organization (UNIDO) 2015 Yearbook report.

30. Germany’s Development Bank KfW to provide loan assistance to metro system for Nagpur

Germany’s Development Bank KfW will provide loan assistance of three thousand and 750 crore rupees for the modern and sustainable metro system for Nagpur city being executed by Nagpur Metro Rail Corporation Limited.

31. Geeta Reddy is new Chairperson of PAC 

Congress senior MLA J Geeta Reddy has been appointed as the new Chairperson of the Public Accounts Committee (PAC) of Telangana.

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