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Bank GK Updates June 23 - June 29 2018

Bank GK Updates June 23 - June 29 2018

TestFunda ,  29-Jun-18
Government red cards bad bank idea, benches ARC plan 
Banks > ARC plan > June 28

The government has rejected the idea of a bad bank and is at best lukewarm to an asset reconstruction company (ARC) that will take over state-run banks’ toxic loans as it’s not keen on diverting more of taxpayers’ money toward their resolution in this manner. 

SBI in process to shut 9 foreign offices as part of rationalisation: MD 
Banks > ARC plan > June 28

State Bank of India (SBI) has closed six foreign branches and is in the process of closing down another nine branches as part of rationalisation of overseas operations, said Managing Director (Retail & Digital Banking) Praveen Kumar Gupta. 

Against limit of Rs 25 lakh, PNB official cleared 13,000 deals above Rs 1 crore: Probe 
Banks > PNB > June 26

An internal investigation carried out by Punjab National BankNSE 4.12 % in the $2 billion fraud involving diamond merchants Nirav Modi and his uncle Mehul Choksi listed major loopholes in the bank’s system, its monitoring and dubious nature of operations at Brady House branch in Mumbai which saw bank manager Gokulnath Shetty clear 13,000 transactions, way above his authorised limit. 

Lashkar killed Shujaat Bukhari: J&K Police
India > Shujaat Bukhari > June 28

The Lashkar-e-Taiba (LeT) hatched the conspiracy to kill the Valley-based senior journalist Shujaat Bukhari, and it was executed by four militants, including a foreigner, the Jammu and Kashmir police said on Thursday.

Cabinet okays ₹2,000-cr. capital infusion for export guarantor across FY2017-20
India > Capital Infusion > June 27

The Cabinet Committee on Economic Affairs on Wednesday approved a capital infusion of ₹2,000 crore into the Export Credit Guarantee Corporation (ECGC) to be infused over the three financial years 2017-20.

NGOs on ED’s radar for funding Naxals
India > Naxals > June 27

Expanding its investigations from the Bihar-Jharkhand region to Chhattisgarh, the Enforcement Directorate has zeroed in on some non-government organisations (NGOs) that are suspected to have funded Naxal operatives in the State.

Centre may offer sops for military
India > Military > June 23

The government is actively considering various steps to assuage the palpable discontent in military circles that has recently worsened because of the opening of cantonment roads to civilian traffic.

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