JANUARY + 15 - StudyIQthe Atal Pension Yojana (APY) with a total pension wealth of Rs 1,344.70...
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JANUARY + 15th FEBRUARY - Banking and Financial Awareness
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1 new video daily high level quant + reasoning questions special focus on Computer awareness +
Banking awareness
SBI PO/CLERK 2017
Call 95-8004-8004
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India’sfirstcashlesstownship/society
Gujarat Narmada Valley Fertilizers (GNFC) township
Bharuch
Population - 5,000
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OrientalBankofCommerce(OBC)
On the occasion of its 75th Foundation Day,
launched mobile wallet 'Oriental Batuaa’
Animesh Chauhan, Managing Director & CEO
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India’sfirstcashlessmass-marriage
BayadtowninSabarkantha,NorthGujarat
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UjjivanSmallFinanceBank
- launched official operations - five pilot branches
- Ujjivan Financial Services – NBFC (holding company of the small finance bank)
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Paytm Payments Bank Ltd Got final approval from the Reserve Bank of India
founder Vijay Shekhar Sharma.
Early this month, Sharma, along with two companies, One97 Communications Ltd and One97 Communications India Ltd, had invested ₹218 crore in the payment banks.
Sharma is also the promoter of these two companies and holds about 51 per cent stake in Paytm Payments Bank.
One97 Communications holds the rest.
Chinese e-commerce giant Alibaba and its sister concern Alipay, which own about 41 per cent stake in One97 Communications Ltd, has also infused fresh funds into the
banking entity, thus leading to an indirect involvement of the Chinese firm.
Payment banks, conceptualised by the Reserve Bank of India, can accept a restricted deposit, which is currently limited to ₹1 lakh per customer
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Karnataka Bank Launched National Pension System (NPS) for its customers.
Any individual between 18 and 60 years can register his/her
name with the bank branch to contribute and to get the pension benefit under this scheme.
NPS is introduced by the Central government to provide old-age financial security by way of regular income in the form of
pension.
P Jayarama Bhat, Managing Director and Chief Executive Officer
HQ - Mangaluru [email protected],Allrightsreserved
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BHIMappLaunched on the iOS platform.
The common UPI app is aimed at facilitating digital
payments.
Currently supporting over 35 banks
Hindi and English language
Per transaction limit of Rs 10,000 and per day transaction limit of Rs 20,000.
– Bharat Interface for Money app by National Payments Corporation of India (NPCI)
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Walnut’sCashlessIndiaScorecard
A personal finance app
Gujarat > Haryana > Telangana
the top 3 states with the highest growth in going cashless in the country.
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FreeChargeDargahNizamuddinAuliya&VrindavanChandrodayaMandir-transformingthe
fundraisingprocessforthesereligioussites.
FoundersofApp– KunalShah,SandeepTandon
Owner– Snapdeal
KunalBahl,RohitBansal
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Gujarat-firststateinthecountryforestablishingcashlessdistribu5onoffoodgrains
underPDSUnion Minister for Consumer Affairs, Food and Public
Distribution Ram Vilas Paswan
Gujarat government installed Aadhaar Enabled Payment System in 17,250 Fair Price Shops (FPS)
The beneficiaries under NFSA (National Food Security Act) will need to carry only Aadhaar cards for getting their food
grain in Gujarat. This will help in establishing the identity of beneficiaries, help in stopping the leakages of grain at shop
level and above all eradicate corruption in the Public Distribution System (PDS)
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The Reserve Bank of India has allowed non-resident Indians to exchange scrapped Rs 500 and Rs 1,000 notes till June 30.
Indians - March 31, 2017
NRI citizens, who were abroad between November 9 and
December 30, 2016 can exchange their defunct notes up to June 30, 2017.
The limit for NRIs will be as per the relevant FEMA (Foreign
Exchange Management Act) regulations = (Rs 25,000 per person)
Admissible amount will be credited to the tenderer's KYC
(know your customer) compliant bank account
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TheFinanceMinistrygrantedapprovalto12proposalsofPSBstoraiseasumofRs2,914.038crorethrough
preferenRalallotmentandpermissiongiventoraiseRs200crorebyUnitedBankofIndiathroughQIPmode.
Qualifiedins5tu5onalplacement(QIP)isacapital-raisingtool,primarilyusedinIndiaandotherpartsofsouthernAsia,wherebyalistedcompanycanissueequityshares,fullyandpartlyconverRbledebenturesThegovernment-infusedasumofRs25,000crorein19
PSBsduringFY2015-16.
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FINANCIALINCUSION26.03croreaccountshavebeenopenedunderPradhan
MantriJanDhanYojana(PMJDY),AGE>10outofwhich15.86croreaccountsareinruralareasand
10.17croreinurbanareas.
DepositsofRs71,557.90crorehavebeenmobilised19.93croreRuPayDebitcardshavebeenissuedunder
PMJDY.Aadhaarseedinghasbeendonein14.43croreaccount
underPMJDY'bankmitras'insubserviceareas(SSAs),1,26,985
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Pradhan Mantri Jeevan Jyoti Bima Yojana
(PMJJBY) over 3.08 crore,
while Rs 9.88 crore under Pradhan Mantri Suraksha BimaYojana (PMSBY)
End of Year 2016
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PradhanMantriJeevanJyo5BimaYojana(PMJJBY)• The PMJJBY is available to people in the age group of 18 to 50 years having a bank
account who give their consent to join / enable auto-debit.
Aadhar - primary KYC for the bank account. • The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June
to 31st May and will be renewable. Risk coverage under this scheme is for Rs. 2 Lakh in case of death of the insured, due to any reason.
• The premium is Rs. 330 per annum / auto-debited in one installment before 31st May of each annual coverage period under the scheme.
• The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose.
• By 28th December, 2016, Cumulative Gross enrolment reported by Banks, subject to verification of eligibility, etc. is over 3.08 crore under PMJJBY. 51,745 claims were registered under PMJJBY till 28thDecember, 2016 out of which 48,023 have been disbursed.
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PradhanMantriSurakshaBimaYojana(PMSBY)• TheSchemeisavailabletopeopleintheagegroup18to70yearswitha
bankaccountwhogivetheirconsenttojoin/enableauto-debitonorbefore31stMayforthecoverageperiod1stJuneto31stMayonan
annualrenewalbasis.
• AadharwouldbetheprimaryKYCforthebankaccount.• TheriskcoverageundertheschemeisRs.2lakhforaccidentaldeathand
fulldisabilityandRs.1lakhforpar5aldisability.• ThepremiumofRs.12perannum-'auto-debit'
• TheschemeisbeingofferedbyPublicSectorGeneralInsuranceCompaniesoranyotherGeneralInsuranceCompanywhoarewillingto
offer• By28thDecember,2016,Cumula5veGrossenrolmentreportedbyBanks
subjecttoverifica5onofeligibility,etc.isover9.88CroreunderPMSBY.10084ClaimswereregisteredunderPMSBY5ll28thDecember,2016out
ofwhich7282havebeendisbursed.
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APYisaguaranteedpensionschemeandisadministeredbythePensionFundRegulatoryand
DevelopmentAuthority(PFRDA)
Guaranteedmonthlypensionforsubscribers,rangingfromRs.1,000toRs.5,000permonth.
GovernmentofIndia(GoI)willalsoco-contribute50%ofthesubscriber’scontribu5onorRs.1,000perannum,whicheverislower.TheGovernmentco-contribu5onisavailableforthosewhoarenotcoveredbyanyStatutorySocialSecuritySchemes
andisnotanIncomeTaxpayer
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18-40yearsAtotalof38.23lakhsubscribershavebeenenrolledundertheAtalPensionYojana(APY)withatotalpensionwealthof
Rs1,344.70crore.
TomakeAPYmorea\racRve,theMinistrymodifiedsomerulesandgaveanopRontothespouseofasubscriberincaseofpre-maturedeathtoconRnuecontribuRngtotheaccountofthesubscriber,fortheremainingvesRngperiod,Rlltheoriginalsubscriberwouldhavea\ainedtheageof60.
Theearlierprovisionwastooverlumpsumamounttospouseontheprematuredeath(deathbefore60yearsofage)ofthe
subscriber.
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Duringtheyear,thegovernmentalsostartedStand-UpIndiaSchemewithobjecRveto
providebankloansbetweenRs10lakhtoRs1croreforgreenfieldenterprisessetupbySC,STand
womenentrepreneursandextendingeffecRvehandholdingsupporttothem.
AsonDecember23,totalnumberofloans
sancRonedunderStandUpIndiaSchemeis15,341(Women:12,055,SC:2,568andST:718).
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UnderPradhanMantriMudraYojana(PMMY)loandisbursementofRs77,916.54crorewas
doneto2.12crorebeneficiariesRllDecember9.Outofthis,therewere1.68crorewomen
entrepreneurswhobenefited.
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TheSecuri5sa5onandReconstruc5onofFinancialAssetsandEnforcementofSecurityInterestAct,2002(SARFAESIAct)andthe
RecoveryofDebtsDuetoBanksandFinancialIns5tu5onsAct(RDDB&FIAct)havebeen
amendedforspeedierresolu5onofdefaultedloansthrough'EnforcementofSecurityInterestandRecoveryofDebtsLawsandMiscellaneous
Provisions(Amendment)Act,2016'.
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PradhanMantriMudraYojana(PMMY)
TargetClientsNon-CorporateSmallBusinessSegment(NCSB)comprisingofproprietorship/partnershipfirmsrunningassmallmanufacturingunits,servicesectorunits,
shopkeepers,fruits/vegetablevendors,truckoperators,food-serviceunits,repairshops,machineoperators,smallindustries,arRsans,foodprocessorsandothers,in
ruralandurbanareas.
ShishuUptoRs.50000/-KishoreAboveRs.50000/-anduptoRs.
5LakhTarunAboveRs.5lakhanduptoRs.10lakh
Performanceason9thDecember,2016
Disbursementamount-Rs.77,916.54croreNo.ofBorrowers-2.12crore
No.ofWomenEntrepreneurs-1.68crore
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Stand-UpIndiaScheme
• TheschemeenvisagesextendingbankloansbetweenRs.10lakhtoRs.1croreforGreenfieldEnterprisesset-upbySC,STandWomenentrepreneursandextendingeffecRvehandholdingsupporttothem.
• EachbankbranchistoextendloanstoatleastoneSC/STandonewomanentrepreneur.
• Enterprisescoveredundertheschememaybeinmanufacturing,servicesorthetradingsector.
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Stand-UpIndiaScheme
Ason23.12.2016,totalnumberofloanssanc5onedunderStandUpIndiaSchemeis
15341
[Women:12055,SC:2568andST:718].
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Educa5onLoanSchemeTheEducaRonLoanScheme(ELS)formulatedbyIndianBanks'AssociaRonaimstoprovidefinancialsupportfromthebankingsystemtodeserving/meritoriousstudents
forpursuinghighereducaRoninIndiaandabroad.
ThemainemphasisisthateverymeritoriousstudentthoughpoorisprovidedwithanopportunitytopursueeducaRon,withthefinancialsupportfromthebankingsystem,
onaffordabletermsandcondiRons,and,thatnodeservingstudentisdeniedanopportunitytopursuehighereducaRonforwantoffinancialsupport.
ModelEducaRonalLoanSchemewaspreparedbyIndianBanks'AssociaRon(IBA)intheyear2001whichwascirculatedtobanksforimplementaRonbyReserveBankofIndiainApril,2001.KeepinginviewtheneedsofthestudentsandsuggesRonsfromstakeholderstheModelEducaRonalLoanSchemewasrevisedbyIBAinAugust,2015.
TheoutstandingEduca5onalLoanPoroolioofPublicSectorBankshasincreasedfromRs.61,967croreason31stMarch,2015toRs.65,644croreinason31stMarch,2016andfurthertoRs68,783croreon30th
September,2016.
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VidyaLakshmiPortal• VidyaLakshmiPortal(VLP)(www.vidyalakshmi.co.in)was
launchedonAugust15,2015.
• Studentscanview,applyandtracktheeducaRonloanapplicaRonsmadetobanksanyRme,anywherebyaccessing
theportal.
• TwentysevenPSBs,6PrivateSectorBanksandtwoco-operaRveBankhaveintegratedtheirsystemwiththeVidya
LakshmiPortalforsubmihngon-lineloanapplicaRonsandforprovidingloanprocessingstatustostudents.ThisiniRaRve
aimstobringonboardallBanksprovidingEducaRonalLoans.Theportalcovers64educaRonalloanschemesofdifferent
banks.
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AgricultureCredit
• AsagainsttheAnnualTargetofRs.8,50,000crorefor2015-16,agriculturecreditwasdisbursedtothetuneofRs.8,77,527.05croreduring2015-16,registering103.24%achievement.
• TheGovernmenthasfixedtheannualtargetforflowofagriculturecreditduring2016-17atRs.9,00,000crore.UptotheQuarterending30.09.2016duringtheCurrentFinancialYear2016-17,AgricultureCreditamounRngtoRs.7,55,995.16crore(provisionalfigure)hasbeendisbursed,registeringabout84%achievementoftheannualtarget.
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Capitaliza5onofPublicSectorBanks(PSBs)Asofnow,thePSBsareadequatelycapitalizedandmeeRngall
theBaselIIIandRBInorms.However,theGovernmentofIndiawantstoadequatelycapitalizeallthebankstokeepasafebufferoverandabovetheminimumnormsofBaselIII.Therefore,GovernmenthasesRmatedhowmuchcapitalwillberequiredthisyearandinthenextthreeyearsRllFY2019IftheinternalgeneratedprofitisexcludedwhichisgoingtobeavailabletoPSBs(basedontheesRmateofaverageprofitofthelastthreeyears),thecapitalrequirementofextracapitalforthenextfouryearsuptoFY2019islikelytobeaboutRs.1,80,000crore.ThisesRmateisbasedoncreditgrowthrateof12%forthecurrentyearand12to15%forthenextthreeyearsdependingonthesizeofthebankandtheirgrowthability.ItisalsopresumedthattheemphasisonPSBsfinancingwillreduceovertheyearsbydevelopmentofvibrantcorporatedebtmarketandbygreaterparRcipaRonofPrivateSectorBanks.
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Outofthetotalrequirement,theGovernmentofIndiaproposestomakeavailableRs.70,000croreoutofBudgetaryAllocaRons
forfouryearsasperthefiguresgivenbelow:
FinancialYear2015-16=Rs.25,000crore
FinancialYear2016-17=Rs.25,000crore
FinancialYear2017-18=Rs.10,000crore
FinancialYear2018-19=Rs.10,000croreTotal=Rs.70,000crore
TheGovernmenthadalreadyinfusedasumofRs.25,000crorein19PSBsduringthefinancialyear2015-16.AbudgetaryprovisionofRs.25,000crorehasbeenmadefortheyear2016-17andtheGovernmenthasalreadyallocatedRs.22,915croreto13PSBs
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• APPROVEDAcquisi5onofSubsidiarybanksofSBI
• StateBankofBikanerandJaipur• StateBankofHyderabad• StateBankofMysore• StateBankofPa5ala• StateBankofTravancore
(BJPHMT)• Bhar5yaMahilaBankLtd???
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BankofBarodaBOBhasenteredintoMOUwithCNX
Corpora5onLtd(CNX)withanobjec5vetoprovidecollateralmanagementservices
towardstheloansagainstwarehousereceiptsanc5onedtothefarmersthroughthenetworkofBankofBarodabranchesacrossthecountry.
immenselybenefitthefarmersfromdistress
saleoftheircommodiRes.
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RBI Asks Banks To Supply 40% Of Notes To Rural Areas
Banksshouldadvisetheircurrencycheststostepupissuanceoffreshnotestoruralbranchesofregionalruralbanks(RRBs),districtcentralcoopera5vebanks(DCCBs)andcommercialbanks,whitelabelATMsandpostofficesinruralareasonaprioritybasiswhichare
consideredasmainruralchannelsofdistribu5on
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HDFChas5ed-upwithar5ficialintelligencefirmNiki.aitolauncha
chatbot
calledOnChatonFacebook’sMessengerplanorm,thatwillallowuserstorechargephones,payuRlitybills,bookcabsfromOlaorUberetc.,
throughachat.
Forpayments,theplanormpromptsuserstopayeitherviaPaytm,FreechargeorPayuMoney,usingwhichuserscanpayviadebit/creditcardsetc.ThusthechatbotfacilitatesthetransacRonviaanother
paymentportal.
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Coca-ColaIndia(CCI),HindustanCoca-ColaBeveragesPvtLtd(HCCBPL)andStateBankofIndia(SBI)onTuesdayannouncedastrategicpartnershiptoenable2.6millionretailersand5,000distributorstoconductbusiness
transacRonsdigitally.
Aspartofthispartnership,trainingsessionswillbearrangedtohelpsmallretailersenhancetheirdigitalskills
andunderstandthebenefitsofadopRngcashlesstransacRons.
SBI'shasmanydigitalpaymentopRonslikeBuddyP2P,BuddyMerchantAppandSBIPay.
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MunichRe–OpenedofficeinMumbai
Fivereinsurancecompanieshavebeengrantedfinallicencebytheregulator.
SwissRe,Germany'sMunichReandHannoverRe,France'sScor
India’sITIReinsurancewhichispartoftheFortuneFinancialServicesgroup.
TOTAL6
ReinsuranceGroupofAmerica(RGA)
Besidesthesixwhichhavesetupshop,LloydsofLondonandBerkshireHathaway'sGeneralReinsurancehavecompletedthefirststageoftheirapplica5on,whileXLReinsurancehasreceivedanin-
principlenod.
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YesBanktodayRed-upwithBajajElectricalsforvendorfinancingusingblockchainsolu5on,and
announcedtousethetechnologymoreaggressivelyasitsavesover70percentincost.
BlockchainsoluRonsisadistributeddatabasethatmaintainsaconRnuously-growinglistofordered
recordscalledblocks
ItreducesturnaroundRmes,istransparentandalsoensureszeroerrors.
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State-ownedfuelretailers,IndianOilCorporaRon
(IOC),BharatPetroleumCorpLtd(BPCL)andHindustanPetroleumCorpLtd(HPCL)willoffer“anupfrontdiscountofRs5oneveryLPGrefilltoallLPGcustomerswhowillbookandpayforitonline
0.75percentdiscountoncashlessfuellingofpetrolanddieselatpetrolpumps.
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KBLSuraksha
KarnatakaBankLtd,inassocia5onwithUniversalSompoGeneralInsuranceCompany,haslaunchedagrouppersonalaccidentinsuranceschemenamed‘KBL
Suraksha’.
PJayaramaBhat,ManagingDirectorandChiefExecu5veOfficer
AlltheSB(savingsbank)accountcustomersofthebankintheagegroupof18-70yearscansubscribetothisschemebypayinganannualpremiumof₹100for₹10
lakhand₹50for₹[email protected],Allrightsreserved
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Small Industries Development Bank of India (SIDBI) on Thursday said it has tied up with Life Insurance Corporation of India (LIC) for augmenting capital
support to enterprises in the country.
Under fund of funds operations, SIDBI handles various schemes, namely India Aspiration Fund (corpus of Rs 2,000 crore, ASPIRE Fund (Rs 60
crore) and Fund of Funds for Startups (FFS) (Rs 10,000 crore).
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Finance minister Arun Jaitley chaired the Sixteenth Meeting of the Financial Stability and Development Council (FSDC). The Council, which has heads of all financial sector
regulators as its members, reviewed the major issues and challenges facing the economy in its 16th meeting held on Thursday.
The Council also reviewed the status of NPAs of public sector banks
Chief Economic Advisor Arvind Subramanian
RBI Governor Urjit Patel
Finance Secretary Ashok Lavasa Economic Affairs Secretary Shaktikanta Das
Financial Services Secretary Anjuly Chib Duggal
Revenue Secretary Hasmukh Adhia
Disinvestment Secretary Neeraj Kumar Gupta SEBI Chairman U K Sinha
IRDAI Chairman T S Vijayan
PFRDA Chairman Hemant G Contractor
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India’s pioneering online automobile transactional marketplace, Droom has tied up with Axis Bank, India’s third largest private
sector bank, to provide quick sanction of loans on both new as well as used cars.
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Country’s GDP growth is estimated to slow down to 7.1 per cent in current fiscal, from 7.6 per cent
in 2015-16, mainly due to slump in manufacturing, mining and construction sectors
Central Statistics Office (CSO)
‘Agriculture, forestry and fishing’ is expected to expand by 4.1 per cent in 2016-17 from 1.2 per
cent.
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1 new video daily high level quant + reasoning questions special focus on Computer awareness +
Banking awareness
SBI PO/CLERK 2017
Call 95-8004-8004
[email protected],Allrightsreserved
