Current Events October 2015 – Bank

• World bank assisted National Watershed Management Project Neeranchal approved by CCEA (Cabinet Committee on Economic Affairs) – ` 2142.30 cr.
Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Rajasthan and Telangana.
• World Bank report of Doing Business 2016, India ranked at 8th position globally and China ranked at 134th. Singapore, New Zealand and Hong Kong – 1st
• Asian Development Bank (ADB) finance India-Bangladesh electricity network with $120 million – 1000 MW.
• 8 public sector banks (SBI, BOI, PNB, Canara Bank, Corporation Bank, Dena Bank, Andhra Bank and BOB) have allotted equity shares on preferential basis to the gov in lieu of capital infusion of ` 13,955 cr.
• Card-less mVisa launched by ICICI – developed by Visa International.
• Dena Bank (GM of Dena Bank K.C. Chhipa) ties up with bankbazaar.com (CEO -Mr. Adhil Shetty) for capturing retail loan business.
• Telenor launches free insurance for mobile phone users – ` 5,000 to
` 50,000.
• 2015 Annual Meetings of World Bank Group and IMF were held at Lima, Peru October (9 – 11), 2015
• RBI opened a new sub-office in Imphal, part of Look East Policy.
• Bank of Baroda launches ‘Chillr Mobile App’ for fund transfer, first public sector bank to partner with Chillr.
• RBI signed MoU with the Central Bank of UAE, United Arab Emirates on Supervisory Cooperation and Exchange of Supervisory Information.
• National Bank for Agriculture and Rural Development (NABARD) sanctioned a loan of ` 134.64 crore to Haryana under Rural Infrastructure Development Fund.
• RBI Governor Raghuram Rajan went with the majority view of the Technical Advisory Committee (TAC) on the policy rate to announce the rate cut by 50 bps to 6.75%.
• RBI issued guidelines for the Gold Monetisation Scheme (GMS)
– Allow banks to fix their own interest rates on gold deposits.
– No bar for maximum gold deposit and minimum 30 grams
• Gov exempted the banking corres-pondents from service tax for account under Pradhan Mantri Jan Dhan Yojana (PMJDY).
• Yes Bank inked a partnership with Snapdeal and Blue Dart to enhance the Cash on Delivery (COD) model.
• Federal Bank become first bank in India to launched Malayalam and Hindi language mobile banking application FedMobile.
• Rajasthan Special Backward Classes Act 2015 provide 5% reservation in jobs and educational institutions to the Gujjar, Banjara, Rabari, and Gadia Lohar communities in Rajasthan.
• RBI notified that Foreign Institutional Investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs) can invest up to 74% of the paid up capital of DEN Networks Limited under the Portfolio Investment Scheme (PIS).
• Yes Bank started operations from its IFSC banking unit at Gujarat International Finance Tec City.
• EXIM bank announced that it will set up in Africa a development firm KPDC (Kukuza Project Development Company).
• RBI allowed Non-Resident Indians (NRIs) to subscribe the National Pension System (NPS) as an investment option under FEMA, 1999.
• Issued by International Finance Corporation (IFC) and the Asian Development Bank(ADB) under the Income-tax Act, 1961.
• IBM is going to instigate cloud data centre in Chennai – $1.2 billion – IBM’s 42nd data centre globally but first in India.
• Infosys overtook HDFC Bank as 3rd most valued company in m-cap, TCS – 1st.
• Bajaj Allianz Life Insurance (Anuj Agarwal) inked agreement with Dhanlaxmi Bank (CEO – G Sreeram) –
` 400 crore – to sell life insurance products.

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