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Bank GK Updates Dec 28 - Jan 03 2016
 

Bank GK Updates Dec 28 - Jan 03 2016

TestFunda ,  03-Jan-17
Istanbul Nightclub Shooting: 2 Indians Including Filmmaker Abis Rizvi Among 39 Killed In Terror Attack
World > Turkey attack > Jan 02

Union minister Sushma Swaraj today tweeted that two Indians have died in the terror attack at a nightclub in Istanbul in which 39 people died and 65 others were wounded. One of them, she said, was Abis Rizvi, the son of former lawmaker Akhtar Hasan Rizvi. The other has been identified as Khushi Shah, a resident of Gujarat.


Demonetisation: Bank union seeks overtime for extra working hours 
Banks > Demonetisation > Jan 02

Days after Prime Minister Narendra Modi praised bank employees for the hard work done during the demonetisation period, a bank union has demanded overtime for the extra hours put in by staff during the 50-day window that ended on December 30. 


SBI pushes merger of 5 associate banks, BMB to next fiscal 
Banks > SBI > Jan 02

The merger of the five associate banks with State Bank of India (SBI) will be postponed to by a quarter due to the demonetisation exercise, acknowledged SBI chief Arundhati Bhattacharya who for weeks had said that the merger is as per the schedule. The bank had announced in May plans to merge its five associate banks with itself by March 2017 to emerge as a global bank in order to compete with peers in emerging markets. 


Supreme Court removes Thakur, Shirke from top BCCI posts
Sports > Cricket > Jan 02

The BCCI's existing power structure has been dismantled by the Supreme Court of India in a landmark order, which directed the removal of the board president Anurag Thakur and secretary Ajay Shirke from office with immediate effect. The order was the culmination of a long-standing impasse between the BCCI and the Lodha Committee: the board had resisted implementing the majority of the committee's recommendations despite being told to do so by a Supreme Court order on July 18.


Samajwadi Party crisis boils over: Akhilesh Yadav is new party chief, Mulayam Singh expels Ramgopal
Politics and Government > Samajwadi Party > Jan 02 

The crisis within the Samajwadi Party refused to die down as Uttar Pradesh Chief Minister Akhilesh Yadav was on Sunday crowned as the party chief, a position that has been held by his father Mulayam Singh Yadav for decades. At the party’s national executive Party meeting convened by national general secretary Ramgopal Yadav today, party leaders unanimously elected Akhilesh to lead Samajwadi Party. The decision was termed as “unconstitutional” by Mulayam and has once again expelled Ramgopal from the party for six years. Party vice-president Kiranmoy Nanda and state general secretary Naresh Agarwal were also expelled for attending the meeting.


Jan Dhan account holders withdrew Rs 3,285cr in last fortnight
India > Jan Dhan account > Jan 01

Jan Dhan accounts witnessed net withdrawal of Rs 3,285 crore in the last fortnight after a huge surge in deposits post demonetisation in November. Total deposits increased to a record high of Rs 74,610 crore for the week ended December 7 and thereafter, it started gradual decline to close at Rs 71,037 crore on December 28, two days ahead of the close of demonetisation exercise, according to Finance Ministry data.


Just 30 per cent of ATMs work as banks opt to hand out cash 
Banks > ATM > Dec 31

More than two-thirds of ATMs continued to run dry across the country till Friday as banks chose to distribute cash to customers through branches rather than refill machines that could be accessed by all debit card holders. 


Demonetisation: ATM operators to seek compensation 
Banks > Demonetisation > Dec 31

The ATM industry stands to lose hundreds of crores as banks continue to starve machines of cash. As a result, ATM operators are now thinking of petitioning the government for compensation. 


After Modi's new-year announcement, banks cut lending rate by up to 0.9% 
Banks > lending rate > Dec 31

State Bank of India slashed interest rates to the lowest in about a decade, forcing rivals to follow suit in the fight for market share, a day after Prime Minister Narendra Modi urged lenders to broaden their focus to the vast range of poorly served borrowers from the poor to the middle class. 


PM Modi Defends Notes Ban, Announces Incentives
India > PM Modi > Dec 31

Prime Minister Narendra Modi announced a slew of incentives to the poor, farmers, women and small businesses on Saturday in a special New Year's address, and defended his shock decision to abolish high denomination bank notes. The withdrawal of Rs 500 and Rs 1,000 bills on November 8 caused widespread disruption and anger in a country where cash is dominant, and the televised speech was seen as an opportunity to offer financial relief to people suffering most.


Ordinance Criminalising Holding Old Notes Gets Prezident's Assent
India > Old notes > Dec 30

In a bid to check a parallel economy being run on old currency, the government today made holding, transfer and receiving of the demonetised note a criminal offence, punishable with a minimum fine of Rs 10,000. This follows President Pranab Mukherjee approving promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 that provides for a fine of Rs 10,000 or five times the cash held, whichever is higher, on holding of more than 10 banned 1,000 and 500 rupee notes.


RBI seeks details of Rs 500/1,000 deposits from banks 
Banks > RBI > Dec 30

RBI has asked banks to report details of deposits of old Rs 500/1,000 notes to it after the close of banking hours today, which is the last date to accept the invalid currency. "With the closure of the facility of exchange of SBNs (defunct notes) as at the close of business on December 30, 2016, all banks should report information on collection of SBNs on December 30, 2016, itself at e-mail," the central bank said in a notification. 


State Bank of India ties up with Magicbricks.com
Banks > SBI > Dec 30 

State Bank of India, the country’s largest bank has tied up with online classifieds portal magicbricks.com, to conduct joint marketing activites and help rejuvenate the real estate sector. To kick start the MOU, SBI and Magicbricks are launching the “Seal the Deal” campaign. Under Seal The Deal, SBI and Magicbricks will be hosting a mega online property show for SBI Approved Projects. This will be the first housing carnival in the industry at this scale. 


RBI extends timeline to load Rs 20,000 in mobile wallets
Banks > RBI > Dec 30 

The Reserve Bank of India on Friday extended the timeline to load Rs 20,000 in mobile wallets till the central bank completes reviewing the guidelines for pre-paid payment instruments (PPIs). “Considering that the Bank is undertaking a comprehensive review of the guidelines and framework for Prepaid Payment Instruments (PPI) issuance in the country it has been decided to extend the measures notified till the completion of review of the PPI guidelines,” the regulator said in a circular. 

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