Banking and Economy April 2019 PDF Summary

Banking and Economy Awareness PDF– April 2019
Banking and Economy Awareness PDF
News and Questions
April 2019
1. Deadline to Link PAN with Aadhaar Extended till September 30

 The government has further extended the last date to Q1. What is the deadline to link
link Permanent Account Number (PAN) with Aadhaar Aadhaar with PAN?
number by 6 month till 30 September 2019.
 Earlier the last date for the same was March 31, 2019.
 This is the sixth time the government has extended the
deadline for individuals to link their Permanent Account
Number (PAN) with Aadhaar.
2. NPCI reduces UPI usage charges to Rs 0.10 from Rs 0.25

 The National Payments Corporation of India (NPCI) has Q1. Free for UPI for transaction
reduced the Unified Payments Interface (UPI) usage fees amount less than Rs 1000?
for small transactions less than Rs 1,000 to 10 paise from Q2. Fees for UPI for transaction
25 paise. amount more than Rs 1000?
 For transactions above Rs 1,000, the charge has been
retained at 50 paise.
3. Kotak Bank First lender to Levy Charges on UPI Transactions Effective From May
2019
 The Indian private sector bank, Kotak Mahindra Bank, Q1. First bank to charge on UPI
has notified that the Unified Payments Interface (UPI) Transactions?
transactions will no longer be free to use for peer-to-
peer transaction above a monthly limit of 30 transaction
with effect from May 2019.
 The UPI fund transfers will be free of cost for the first 30
transfers in a month, thereafter the bank will charge in
the following manner:
 For transaction below or equal to Rs. 1,000 – Rs. 2.50 per
transaction
 For transactions above Rs. 1,000 – Rs. 5.00 per
transaction along with 18 per cent GST
 The charges will be applicable on all fund transfers done
via UPI on any platform including Paytm, PhonePe,
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4. Reliance Mutual Fund Partners Google to Offer Voice-Based Financial Transactions

 The Reliance Nippon Life Asset Management (RNAM) has partnered with internet major-
Google, enabling the customers of Reliance Mutual Fund to carry out voice-based financial
transactions.
 This is a first of its type endeavour in India. Reliance Mutual Fund will offer conversational
interface to the customers so that they can carry transaction of funds just by listening and
speaking on smartphone or digital device through a series of voice commands
 Initially the service would be launched in Reliance Simply Save app for the customers and
then subsequently in Google Assistant platform for access by all existing and potential
investor.
5. RBI sets WMA Limit for Govt at Rs 75000 crore for first half of FY20
 The Reserve Bank of India has set the limits for Ways Q1. WMA Full form
and Means Advances (WMA) for the first half of the Q2. WMA for first half of FY20?
financial year 2019-20 at ₹75,000 crore. This is for April Q3. Reserve Bank may trigger fresh
2019 to September 2019). floatation of market loans when
 The Reserve Bank makes advances to the Central and the Government of India utilises
state governments to remove the temporary mismatch ____ of the WMA limit?- 75
in the cash flows. Such advances are termed as ‘ways percent
and means advances’ (WMA).
 The Reserve Bank may trigger fresh floatation of market
loans when the Government of India utilises 75 percent
of the WMA limit.
 The interest rate on WMA/overdraft will be:
o WMA: Repo Rate
o Overdraft: Two percent above the Repo Rate
6. ADB Projects India’s Growth at 7.2% in 2019 on Rising Consumption

 According to the Asian Development Outlook 2019 Q1. Growth rate of India as per
report of Asian Development Bank (ADB), India is Fitch in 2019-20?
expected to rebound at 7.2 percent in the fiscal 2019-20 Q2. Growth rate of India as per
due to strengthening consumption. Fitch in 2020-21?
 Further, the growth rate for 2020 is expected to grow at
7.3 percent.
 India’s growth slowed from 7.2 percent in fiscal 2017 to
7 percent in 2018.
7. WTO Lowers Global Trade Growth From 3.7 percent to 2.6 percent in 2019
 The World Trade Organization (WTO) has lowered its forecast for global trade growth in 2019
from 3.7 percent to 2.6 percent due to tensions and economic uncertainties in global trade.
 In its forecast report inSeptember 2018, the WTO had lowered the global 2018 and 2019
trade growth to 3.9 and 3.7 percent, respectively.
8. Supreme Court strikes down RBI’s Feb 2018 circular on Resolution of stressed assets
 The Supreme Court has quashed the February 12, 2018 Q1. The Circular of RBI of Feb 12,
circular of RBI on Resolution of Stressed Assets. 2018 was related to?
 The circular gave the defaulting companies a time of 180 Q2. Time limit for stressed asset
days to agree on a resolution plan with lenders or be resolution as per the Circular of
taken to bankruptcy court to recover a debt of Rs 2,000 RBI of Feb 12, 2018?
crore and above. Q3. Head of the bench that
 The decision was taken by a two-judge bench headed by quashed the RBI Circular on
RF Nariman. Resolution of stressed assets
9. RBI reduces Repo Rate by 25 bps to 6.0% in First MPC 2019-20

 The Reserve Bank of India in its First Bi-monthly Q1. What is the Repo Rate?
Monetary Policy Statement, 2019-20 has reduced the Q2. Remember all the rates.
Repo Rate by 25 basis points to 6.0 per cent from 6.25
per cent.
 As a result the reverse repo rate stands at 5.75 per cent,
and the marginal standing facility (MSF) rate and the
Bank Rate are 6.25 per cent.
 RBI has revised the GDP growth rate for 2019-20 at 7.2
per cent.
 The revised rate are as under:
o Repo Rate: 6.0%
o Reverse Repo Rate:5.75%
o Marginal Standing Facility Rate:6.25%
o Bank Rate:6.25%
o CRR: 4%
o SLR: 19.5%
10. Sebi extends deadline for UPI as payment method for retail IPO investors till June
30
 Securities and Exchange Board of India (SEBI) has Q1. The Deadline
extended the deadline for implementation of the first Q2. Full form of ASBA?
phase of Unified Payments Interface (UPI) as an
alternative payment mechanism for retail investors
buying shares in a public issue to June 30, 2019 from
March 31, 2019.
 In November 2018, SEBI has issued a circular to
introduce the use of Unified Payments Interface (UPI) as
a payment mechanism with Application Supported by
Block Amount (ASBA) for applications in public issues by
retail individual investors through intermediaries.
11. Fitch affirms India’s rating for 13th year in a row at BBB-
 Rating agency Fitch has retained India’s sovereign rating Q1. Sovereign rating of Indias as
at ‘BBB-‘ with stable outlook. BBB- is the lowest per fitch? (Such a question was
investment grade. asked in RRB PO once)
 This is the 13th year in a row that global rating agency Q2. GDP growth rate prediction for
Fitch has rated India at ‘BBB-‘. GDP growth rate for India India as per Fitch
as per Fitch in FY20 is 6.8% and for that in FY21 is 7.1%.
12. RBI provides additional 2 per cent liquidity under LCR norm
 The Reserve Bank of India has provided additional 2 per cent liquidity window to the lenders
by tweaking liquidity coverage ratio (LCR) norms. The step has been taken to further improve
the cash position of banks
13. Lakshmi Vilas Bank approves merger with Indiabulls Housing Finance
 The board of The Lakshmi Vilas Bank Ltd. has approved a Q1. Indiabulls Housing Finance will
scheme of amalgamation with Indiabulls Housing Finance merge with which bank?
Ltd. The proposed name of the new entity thus formed is Q2. Laksmi Vilas Bank
Indiabulls Lakshmi Vilas Bank. However, the name will be Headquarters?- Chennai
finalised after getting clearance from regulatory
authorities.
 For every one share of Rs 10 each, shareholders of
Lakshmi Vilas Bank will receive 0.14 equity share of Rs 2
each of Indiabulls Housing Finance.
 The merged entity’s net worth will be Rs 19,472 crore,
with 14,302 employees and a loan book of Rs 1.23 lakh
crore.
 Note: The merger is subject to approval from
shareholders, Competition Commission of India (CCI),
National Housing Bank (NHB) and National Company Law
Tribunal (NCLT)
14. David Malpass appointed as President of World Bank

 David Malpass has been elected as the new President of Q1. Who is the President of the
World Bank. He succeeds Jim Yong-Kim who stepped World Bank?
down on February 1. Q2. Who is the CEO of the World
 David Malpass is currently Under Secretary of US Bank?
Treasury for International Affairs and will take charge as Q3. Headquarters of the World
World Bank President on April 09, 2019. Bank?- Washington DC, US
 Kristalina Georgieva was the interim President of the
World Bank during this period from February to March.
She is the chief executive officer of the World Bank.
 The appointment of David Malpass was approved by a
25-member executive board.
15. Bank of India to sell 25% stake in life insurance JV SUD Life
 Bank of India (BoI) has announced that it will sell 25.05% Q1. Which bank has announced to
equity stake in Star Union Dai-Ichi Life Insurance sell its stake in SUD Life Insurance?
Company (SUD Life) at a floor price of Rs. 170.50 per Q2. Star Union Dai-Ichi Life
share. Insurance Company is a JV
 At the floor price, the sale could earn Rs. 1,106 crore for between?
BOI.
 Star Union Dai-Ichi Life Insurance is a JV between BoI
(holds 28.96 per cent), Union Bank of India (holds 25.10
per cent), and Japan’s Dai-ichi Life Insurance Company (
holds 45.94 per cent)
16. Priority Sector Lending Certificates volume Rs 3.3 trillion in FY19

 The volume of priority sector lending certificates (PSLCs) Q1. What was the volume of PSLC
increased to Rs 3.3 trillion in FY19. The volume of PSLC in in FY19?
FY18 was Rs 1.9 trillion and in FY17 was Rs 50,000 crore.
 PSLCs are Certificates that enable banks to achieve the
priority sector lending target and by purchasing these
PDLC instruments in the event of a shortfall.
17. Emirates Islamic becomes world’s first Islamic bank to launch banking via
WhatsApp
 Emirates Islamic a bank in Dubai, UAE has announced Q1. First Islamic Bank to launch
the launch of Chat Banking services for customers via banking via Whatsapp?
WhatsApp. With this, it will become the world’s first Q2. Headquarters of Emirates
Islamic Bank to launch Banking Service via Whatsapp. Islamic?- Dubai, UAE
18. World Bank Projects India’s GDP to Accelerate Moderately to 7.5% in 2019-20
 In its latest report on South Asia, the World Bank has forecasted India’s GDP growth to
accelerate moderately to 7.5 percent in Fiscal Year 19-20.
 The estimated growth is driven by continued investment strengthening, particularly private-
improved export performance and resilient consumption.
 The bank has estimated the real GDP growth at 7.2 percent in the fiscal 2018-19.
19. India again tops world’s remittance receiving nation list in 2018: World Bank
 India has retained its spot as the world’s top remittance Q1. Top remittance receiving
receiving nation with Indian diaspora sending back USD nation as per World Bank?
79 billion to India in 2018. This is according to the World Q2. Remittance received by India
Bank’s Migration and Development Report. in 2018 as per World Bank?
 India is followed by, 2nd- China ($67 billion), 3rd-
Mexico ($36 billion), 4th-The Philippines ($34 billion) and
5th- Egypt ($29 billion)
 Remittance to India in 2018 increased by more than 14%.
20. BSE ties up with HDFC Bank to strengthen startups platform

 BSE (formerly Bombay Stock Exchange) has signed of a Q1. BSE has tied up with which
memorandum of understanding (MoU) with HDFC Bank bank for the promotion of BSE
to spread awareness about the benefits of listing on BSE Startups platform?
Startups platform.
 BSE Startup platform was launched by BSE in December
2018, to list the new-age companies and encourage the
entrepreneurs to get listed and thereby making stock
market listing attractive for startups in the country and
to and raise equity capital for their growth and
expansion.
21. IMF predicts India’s GDP growth at 7.3% in FY20 and 7.5% in FY21
 The International Monetary Fund (IMF) in its latest World Economic Outlook (WEO) has
predicted India’s GDP growth rate in 2019-20 at 7.3% and for 2020-21 at 7.5%.
 India’s GDP growth rate in 2018-19 was 7.1% as per IMF.
22. RBI issues Minimum Standards for opening a Currency Chest

 The Reserve Bank of India has decided to have the Q1. Minimum area?
following minimum standards for setting up of a new Q2. Chest Balance Limit?
Currency Chests. Q3. Head of committee?
 Minimum area of the strong room/ vault: 1500 sq. ft.
 For those situated in hilly/inaccessible places area of the
strong room/ vault: at least 600 sq. ft.
 Processing capacity of 6,60,000 pieces of banknotes per
day. For those situated in the hilly/ inaccessible places,
capacity of 2,10,000 pieces of banknotes per day.
 Chest Balance Limit of Rs 10 billion.
 This has been done on the recommendation of Shri D.K.
Mohanty Committee. The committee had recommended
the opening of large Currency Chests (CCs) with modern
facilities and Chest Balance Limit (CBL) of at least ₹ 10
billion.
23. IMF cuts global GDP growth forecast by 20 bps to 3.3% for 2019
 The International Monetary Fund (IMF) has lowered its global GDP growth forecast for 2019
to 3.3 % from the previous level of 3.5 % in its latest World Economic Outlook (WEO).
24. Government meets FY19 fiscal deficit goal of 3.4%

 The government had set the met the fiscal deficit target Q1. What was the Fiscal Deficit
of 3.4 percent of the GDP for 2018-19 and was successful Target of GOI for FY19?
in meeting this target of 3.4% of the gross domestic Q2. Fiscal Deficit achieved by GOI
product (GDP) in FY19. in FY19?
 This was possible by reducing government spending and

increasing borrowings from small savings funds.
25. Interest Rate for General Provident Fund Retained at 8% for Q1 of FY20
 The Government of India has retained the interest rate Q1. What is the interest rate for
for General Provident Fund (GPF) and other related General Provident Fund (GPF)
schemes at 8 percent for the first quarter (April to June)
of financial year 2019-20, effective from April 1, 2019.
 The interest rate on these funds was at 8 percent in
January-March quarter of 2018-19.
 The interest rate will be applicable on provident funds of
central government employees, railways and defence
forces.
26. Google Pay Partners MMTC-PAMP India to Launch Gold Buying for Indian Users
 Tech giant Google has partnered with bullion refiner MMTC-PAMP India on April 11, 2019, to
enable the users of Google Pay to buy and sell gold through the app.
 MMTC-PAMP India is first and only LBMA (London Bullion Market Association) accredited for
Gold and Silver refinery in India.
 The partnership will allow Google Pay users to buy 99.99 percent 24-karat gold for any value
and that will be stored on behalf of the user, by MMTC-PAMP, in secure vaults.
 The users can buy and sell this gold any time at the latest price, refreshed every few minutes,
as displayed on Google Pay app.
 Paytm, Mobikwik and PhonePe already offers such service to its users.
27. Karnam Sekar to Take over as MD & CEO of Indian Overseas Bank wef July 1
 Karnam Sekar has been appointed as the MD and CEO of Q1. Who has been appointed as
Indian Overseas Bank (IOB) and will take charge from the MD/CEO of IOB?
July 1, 2019. He was the MD and CEO of the former Dena Q2. Who has been appointed as
Bank which is now merged into BoB. the MD/CEO if Canara Bank?
 R A Sankara Narayanan, former MD and CEO of Vijaya
Bank, has been appointed as the MD & CEO of Canara
Bank.
28. HDFC Bank Ranks No 1 Indian Bank in World’s Best Banks Survey by Forbes
 India’s largest private sector lender, HDFC Bank has been Q1. Which bank has been ranked
ranked No 1 in India based on customer satisfaction in No. 1 by Forbes on Customer
the first edition of the ‘World’s Best Banks’ survey by Satisfaction?
Forbes magazine.
 For the survey, Forbes partnered with market research
firm Statista and measured the best banks in 23
countries.
 The survey did not take into account the financial
performance, or balance sheets and P&L statements of

the banks. Customers rated banks on overall
recommendation and satisfaction based on 5 key
attributes.
 ICICI Bank stood at second place followed by DBS at third
in Forbes list for India.
29. IndusInd Bank launches campaign “#Just25” to celebrate 25 years

 IndusInd Bank has completes its Silver Jubilee i.e 25 Q1. IndusInd Bank has recently
years. IndusInd Bank commenced its operation in the completed how many years?
year 1994. Q2. In which year was IndusInd
 To celebrate the completion of its 25 years IndusInd Bank formed?
Bank has launched a multimedia campaign named Q3. The campaign “#Just25” has
“#Just25”. The campaign takes inspiration from the 25- been launched by which bank?
year-olds. Q4. Name of campaign launched
by IndusInd Bank to commemorate
its 25 years?
30. CBDT sets June 30 deadline to dispose of demonetisation cases

 Central Board of Direct Tax (CBDT) has set the deadline Q1. Deadline?
of June 30, 2019 for its officials to “dispose of all cases
related to demonetisation where assessment is required
to be framed”.
31. Fincare SFB and Paytm Payments Bank wins Celent Model Bank 2019 Award
 Celent Model Bank 2019 Awards has been announced by Q1. Which banks have won the
Celent in New York. 22 Banks from across the world have Celent Model Bank 2019 Award?
been awarded in different categories. Two banks from
India has won the awards. The details are: Q2. Which bank has won the
 Fincare Small Finance Bank, India – has won the Celent Celent Model Bank 2019 Award in
Model Bank 2019 Award under Financial Inclusion the Financial Inclusion category or
category for its LAP (Loans Against Property) D.Lite the Beyond Banking category?
initiative. It is a tab-based solution designed and
developed in-house by Fincare SFB for origination and Q3. D.Lite initiative is of which
instant underwriting of loans against property targeted bank?
at micro and small enterprises.
 Paytm Payments Bank, India has won the award under
Beyond Banking category for its “Building a Truly Digital
Bank for India” initiative.
32. ADB committed highest-ever $3 bn in sovereign loans to India in 2018

 The Asian Development Bank (ADB) had committed to Q1. In 2018, ADB provided the
provide USD 3 billion in sovereign loans to India in 2018. highest sovereign loan to which
This is the highest level of assistance by ADB to India country?

since 1986, when India opted to become a borrowing Q2. Amount?
member of ADB.
 In all, the Asian Development Bank (ADB), owned by 68
member countries, committed a total of USD 3.88
billion, including sovereign loans and co-financing during
the year ended December 2018.
33. IDBI Bank launches ‘NRI-Insta-Online’ paperless account opening facility for NRIs
 IDBI Bank has launched the ‘NRI-Insta-Online’ account- Q1. Which bank has launched the
opening facility for NRIs to open an account in IDBI Bank ‘NRI-Insta-Online’ paperless
without submitting paper documents. account opening facility for NRIs
 The facility will be available to NRIs residing in Financial for FATF members?
Action Task Force (FATF) member countries. Q2. FATF member numbers? – 38
 FATF has 38 member countries. Applicants can open an Q3. FATF HQ?- English, French
account online by submitting the required documents
online on the banks’ website and selecting their branch.
34. Canara Bank becomes first Public Sector Bank to shift to EMV chip cards as per RBI
Mandate
 The Reserve Bank of India had mandated all banks to Q1. First Public Sector Bank to
migrate the magnetic strip based ATM/Debit cards to meet RBI’s EMV mandate?
EMV chip-and-PIN payment cards by December 31, 2018.
 In this direction, Canara Bank in association with ACI
Worldwide has announced that Canara Bank has
successfully rolled out major new functionality for this,
to support EMV card across its ATM network. With this
Canara Bank has become the first Public Sector bank to
meet RBI’s EMV mandate.
 The technology developed by ACI and Canara Bank also
speeds up the process of Aadhaar number linking, hence
improving the KYC compliance at the bank’s branches.
35. IMF & World Bank Launches “Learning Coin” to Educate Staff about Blockchain
 The International Monetary Fund (IMF) and World Bank have launched their own private
blockchain and digital currency network on April 12 to familiarize staff with the concepts of
cryptographic assets such as Bitcoin (BTC) and Ether (ETH).
 The new pseudo-token has been named as “Learning Coin” and has no real value. The
purpose of such token is to generate understanding among relevant employees within the
organizations about blockchain technology in the real world.
 The Staff members will earn the tokens by successfully clearing training goals. They can then
exchange their earnings for rewards of some kind.
 These coins will only be accessible within the organizations and will not be able to buy real-
world goods and services.
36. ETMONEY becomes India’s first comprehensive financial services app to integrate
UPI
 ETMONEY has announced that it has integrated Unified Q1. India’s first comprehensive
Payment Interface (UPI) as a payment method on its financial services app to integrate
platform. The integration of UPI will simplify the mutual UPI?
fund payment experience for millions of ETMONEY
users.
 With this, it has become the first full-fledged financial
service app to integrate UPI for payment. ETMONEY is
owned by the Times Group.
37. Deutsche Bank appoints Kaushik Shaparia as CEO of India Business

 Deutsche Bank has appointed Kaushik Shaparia as the Q1. Who has been appointed as
chief executive officer for India. Kaushik Shaparia’s the CEO of Deutsche Bank India?
appointment will be effective from May 2019. Q2. Kaushik Shaparia has been
 He will succeed Ravneet Gill who joined Yes Bank as CEO appointed as the CEO of which
in March 2019. bank?
 Deutsche started its India operations in 1980. Deutsche
Bank HQ- Frankfurt, Germany; Deutsche Bank HQ in
India- Mumbai.
38. RBI signs SoC to the FX Global Code

 The Reserve Bank of India has signed a Statement of Q1. RBI has recently signed SoC for
Commitment (SoC) to the FX Global Code (“Code”). Code. This code deals with which
 The FX Global Code (known as Code) represents a set of type of market? – foreign
principles generally recognized as good exchange market (“FX Market”)- FX
 practice in the wholesale foreign exchange market (“FX Global Code (“Code”)
Market”).
 As per the SoC, RBI has confirmed that it acts as a
Market Participant as defined by the Code and is
committed to conducting its FX Market activities
(“Activities”) in a manner consistent with the principles
of the Code.
 The “Code” is based on six principles, namely:
o Ethics
o Governance
o Execution
o Information Sharing
o Risk Management and Compliance
o Confirmation and Settlement Processes.
 The Code is currently being implemented globally by the
Global FX Committee (GFXC) in coordination with the
Local FX Committee (LFXC) in each jurisdiction. It was
developed by a partnership between central banks and

Market Participants from 16 jurisdictions around the
globe.
39. CEO of SHEROS, Sairee Chahal appointed to board of directors of Paytm Payments
Bank
 Paytm Payments Bank has appointed Sairee Chahal to its Q1. Recently which bank has
board of directors. Sairee Chahal is the founder and CEO appointed Sairee Chahal to its
of SHEROES, a community platform for women. board of Directors?
40. Kotak Mahindra Bank becomes first Destination Bank to go live with Net Banking
and Debit Card-based e-mandate
 Kotak Mahindra Bank has launched debit card-based e- Q1. Which bank has recently
mandate on NPCI’s API platform. With this Kotak become the first bank to go live
Mahindra Bank has become the first Destination Bank to with Net Banking and Debit Card-
go live with Net Banking and Debit Card-based e- based e-mandate
mandate authentication.
 Destination Bank in NACH platform is one that
responsible for the processing of Inward NACH
transaction file.
 NACH is a platform of NPCI for bulk and repetitive
payment.
41. Central Govt Raises Authorised Capital of Allahabad Bank to Rs 8,000 cr

 The central government after consultation with the Q1. What is the authorized capital
Reserve Bank of India has increased the Authorised of Allahabad Bank?
Capital of the state-owned Allahabad bank from Rs 5,000
to Rs 8,000.
 The increase in authorised capital will enable the bank to
raise further fund up to a maximum ceiling of Rs 8,000
crore.
42. Sebi reduces minimum subscription requirement for InvITs, REITs

 Securities and Exchange Board of India (SEBI) has reduced Q1. Minimum subscription
the minimum subscription requirement for Real Estate requirement for REITs?
Investment Trusts (REITs) and Infrastructure Investment Q2. Minimum subscription
Trusts (InvITs). SEBI has also defined trading lots for REITs requirement for InvITs
and InvITs. Q3. Trading lot for REITs?
o Minimum subscription requirement for REITs: Rs Q4. Trading lot for InvITs?
50,000 (and its multiple) [earlier its was Rs 2 lakhs]
o Minimum subscription requirement for InvITs: Rs 1
lakh (and its multiple) [earlier its was Rs 10 lakhs]
o For initial listing, a trading lot should be of 100 units,
and its multiple. (for both REITs and InvITS)
43. BSE Inks Pact with Network Intelligence to provide security services to its members
 BSE, India’s largest stock exchange has entered a Memorandum of Understanding (MoU) with
Network Intelligence, a global cybersecurity services provider & CERT-IN empanelled vendor on
April 15, to provide cybersecurity services to its members under the cybersecurity framework set
by SEBI.
 SEBI had released its “Cybersecurity & Cyber Resilience framework for Stock Brokers / Depository
Participants” in late 2018.
 Network Intelligence will use BlueScope platform to offer 24×7 cyber security operations to the
members from its state-of-the-art Next Gen Cybersecurity Operations Centre (CSOC) based in
Mumbai.
44. Reserve Bank of India divests its entire share in NABARD and NHB
 The Reserve Bank of India has announced that it has Q1. Shareholding of NABARD and
divested its entire stake in NABARD and NHB on NHB.
February 26, 2019 and March 19, 2019 respectively. RBI Q2. Amounts divested from
has a share of Rs 20 Crore in NABARD and Rs 1450 Crore NABARD and NHB?
in NHB.
 With this, the Government of India now holds 100%
stake in both the financial institutions.
 RBI held 100% shareholding in NHB, which was divested
on March 19, 2019.
45. SBI launches India’s first ‘Green Car Loan’

 State Bank of India has launched India’s first ‘Green Car Q1. Which bank has announced
Loan’ (loans for Electric Vehicle) to encourage customers India’s first ‘Green Car Loan’?
to buy electric vehicles.
 The interest rate in SBI Green car loans will be 20 basis
points less than the normal car loan schemes. It will also
come with the longest repayment period of up to eight
years.
46. Mudra loans miss target by ₹27,000 crore in FY19

 Loans disbursed under the Pradhan Mantri Mudra Q1. Mudra loans missed the target
Yojana (PMMY) have fallen short of the target set for in FY19 by what amount?
2018-19. The loans disbursed under PMMY in FY19 was Q2. Amount of MUDRA loans
Rs 2.73 lakh crore against the target of Rs 3 lakh crore. disbursed in FY19?
 This is the first time that the target was missed in the
last three years.
47. RBI first central bank in APAC to start interest rate easing cycle: Fitch
 Fitch Ratings has said that the Reserve Bank of India Q1. First central bank of APAC to
(RBI) is the first central bank in the Asia-Pacific (APAC) start interest rate easing cycle?
region to have begun explicit interest rate easing cycle Q2. Which agency stated that RBI
by cutting the policy twice, amounting to a cumulative is the first central bank in APAC to
50 bps, in the last two monetary policy reviews in 2019. start interest rate easing cycle?
 This is the first back-to-back rate cut since the MPC was
formed in late 2016.
 Fitch has predicted GDP growth rate of 6.8% in FY20 for
India.
48. NCLT Approves Merger of IndusInd Bank with Bharat Financial Inclusion (BFIL)
 The IndusInd bank has received the approval of the Q1. BFIL will be merged with which
National Company Law Tribunal (NCLT) for its merger bank?
with Bharat Financial Inclusion (BFIL).
 The entire merger process will be completed within 2-4
weeks.
 Post merger, the BFIL will become a subsidiary of the
IndusInd Bank.
 The merger has already received the ‘No Objection’ from
regulators like RBI, SEBI, CCI, NSE and BSE.
49. Indian Crypto Exchange ‘BuyUcoin’ Launches Wholesale Trading Platform

 BuyUcoin, a Cryptocurrency Exchange in India, has launched a new and unique platform for
wholesale cryptocurrency trading also known as OTC (Over-the-counter) desk.
 Users can trade abundance of cryptocurrency through the platform on a large scale with low
price fluctuations.
 Initially, the platform is working on a free trading model that means no fees are charged on
trades through the model.
50. RBI to introduce new Rs 20 banknote

 The Reserve Bank of India will soon issue new Rs 20 Q1. Color of Rs 20 new note
denomination banknotes in the Mahatma Gandhi (New) Q2. Motif
Series, bearing signature of Shri Shaktikanta Das.
 Motif of Ellora Caves on the reverse
 Base colour of the note is Greenish Yellow.
51. Finance Ministry ratifies 8.65% interest on EPF for 2018-19

 Ministry of Finance has approved 8.65% interest rate on Q1. Interest rate on EPF for 2018-
Employees’ Provident Fund (EPF) for 2018-19 as 19?
proposed by Employees’ Provident Fund Organisation
(EPFO).
 The interest rate on EPF for 2017-18 was 8.55 per cent.
52. Javier Pérez Tasso named new CEO of SWIFT

 The Society for Worldwide Interbank Financial Q1. Who is the present CEO of
Telecommunication (SWIFT) has named Javier Pérez- SWIFT?
Tasso as its new CEO and he will replace the present CEO Q2. Who will be the new CEO of
Gottfried Leibbrandt on July 01, 2019. SWIFT?
 Headquarters of SWIFT- La Hulpe, Belgium Q3. Headquarters of SWIFT?
 Chairman of SWIFT- Yawar Shah
53. RBI extends deadline for legal entity identification for non-derivative markets
 The Reserve Bank of India has extended the deadline for market participants for the
implementation of Legal Entity Identifier (LEI) for participation in non-derivative markets.
 The timeline for the LEI system in non-derivative markets (for only phase 1 and phase 2) are
extended as under:
Old Extended
Phase Net Worth of Entities Deadline Deadline
Phase April 30, December
I above Rs.10000 million 2019 31, 2019
Phase between Rs.2000 million August 31, December
II and Rs 10000 million 2019 31, 2019
Phase March 31, March 31,
III up to Rs.2000 million 2020 2020
54. RBI extends ombudsman scheme to non-deposit taking NBFCs

 The Reserve Bank of India has extended the NBFC Q1. NBFC Ombudsman scheme will
Ombudsman Scheme 2018 to Non-Deposit Taking Non- be applicable on non-deposit
Banking Financial Companies with assets size of Rupees taking NBFCs with minimum asset
100 crore or above. size of?
 NBFC’s excluded from the ambit of NBFC Ombudsman: Q2. NBFCs on which NBFC
o Non-Banking Financial Company – Infrastructure Ombudsman is not applicable?
Finance Company (NBFC-IFC), Q3. Maximum Award under NBFC
o Core Investment Company (CIC), Ombudsman Scheme?
o Infrastructure Debt Fund-Non-Banking Financial Q4. NBFC Ombudsman Scheme in
Company (IDF-NBFC) and which year?-2018
o an NBFC under liquidation Q5. NBFC Ombudsman present in
 Offices of the Non-Banking Financial Companies how many cities?
Ombudsman are present in four metro centers viz.
Chennai, Kolkata, Mumbai and New Delhi for handling
complaints.
 Maximum Award under NBFC Ombudsman: Rs 10 lakh
55. SEBI reduces Net worth Requirements for Clearing Corporations in IFSC to Rs 100
Crore
 SEBI has announced that the minimum Net worth Q1. Minimum net worth
Requirements for Clearing Corporations in International requirement for Clearing Corps
Financial Services Centre (IFSC) over a period of three over a period of three years?- Rs
years from the commencement of operations should be 100 crore
at least Rs 100 Crore. This has been reduced from Rs 300 Q2. Minimum net worth
crore earlier. requirement for Clearing Corps
 However, the minimum net worth requirement for during commencement of
Clearing Corporations in International Financial Services operations?- Rs 50 crore.
Centre (IFSC) over a period of three years is still Rs 50
crore.
56. Canara Bank launches ‘Webassurance’ with 4 life insurance products

 Public Sector Bank, Canara Bank in association with its Q1. Which bank has launched the
life insurance partner, Canara HSBC Oriental Bank of ‘Webassurance’?
Commerce Life Insurance has announced the launch of Q2. Name of the insurance tool
‘Webassurance’. launched by Canara Bank?
 ‘Webassurance’ will enable the bank’s customer to Q3. Share of Canara Bank in Canara
purchase life insurance products from the bank’s HSBC OBC Life Insurance?
website. Four life insurance products of Canara HSBC
OBC Life would be made available to customers of
Canara Bank.
 Canara HSBC OBC Life is jointly owned by two public
sector banks Canara Bank (51 percent) and Oriental Bank
of Commerce (23 per cent) and HSBC Insurance (Asia
Pacific) Holdings (26 per cent).
57. HDFC Bank and Max Bupa launch ‘AnyTimeHealth’ machines to distribute health
insurance products
 HDFC Bank and Max Bupa (insurance company) have Q1. Which bank/insurance
launched a ‘‘AnyTimeHealth (ATH)’ machines. company has launched
 ATH machine is completely automated, technology- ‘AnyTimeHealth’ machines?
based model which allows customers to avail health
assessment and buy a policy instantly, without any
manual intervention.
 In the phase-1, 15-20 ATH machines will be installed at
HDFC Bank branches across multiple cities.
58. India Ratings predicts India’s GDP growth rate at 7.3% for FY20
 India Ratings and Research has predicted India’s GDP Q1. GDP rate prediction by India
growth rate prediction for 2019-20 at 7.3%. This is less Ratings and Research for India for
than its earlier prediction of 7.5%. FY20.
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Banking and Economy Awareness PDF– April 2019

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News and Questions

1. Deadline to Link PAN with Aadhaar Extended till September 30

2. NPCI reduces UPI usage charges to Rs 0.10 from Rs 0.25

Google Pay etc.

4. Reliance Mutual Fund Partners Google to Offer Voice-Based Financial Transactions

6. ADB Projects India’s Growth at 7.2% in 2019 on Rising Consumption

trade growth to 3.9 and 3.7 percent, respectively.

9. RBI reduces Repo Rate by 25 bps to 6.0% in First MPC 2019-20

14. David Malpass appointed as President of World Bank

16. Priority Sector Lending Certificates volume Rs 3.3 trillion in FY19

20. BSE ties up with HDFC Bank to strengthen startups platform

22. RBI issues Minimum Standards for opening a Currency Chest

24. Government meets FY19 fiscal deficit goal of 3.4%

 This was possible by reducing government spending and

performance, or balance sheets and P&L statements of

29. IndusInd Bank launches campaign “#Just25” to celebrate 25 years

30. CBDT sets June 30 deadline to dispose of demonetisation cases

32. ADB committed highest-ever $3 bn in sovereign loans to India in 2018

This is the highest level of assistance by ADB to India country?

37. Deutsche Bank appoints Kaushik Shaparia as CEO of India Business

38. RBI signs SoC to the FX Global Code

developed by a partnership between central banks and

41. Central Govt Raises Authorised Capital of Allahabad Bank to Rs 8,000 cr

42. Sebi reduces minimum subscription requirement for InvITs, REITs

and its multiple. (for both REITs and InvITS)

45. SBI launches India’s first ‘Green Car Loan’

46. Mudra loans miss target by ₹27,000 crore in FY19

49. Indian Crypto Exchange ‘BuyUcoin’ Launches Wholesale Trading Platform

50. RBI to introduce new Rs 20 banknote

51. Finance Ministry ratifies 8.65% interest on EPF for 2018-19

52. Javier Pérez Tasso named new CEO of SWIFT

54. RBI extends ombudsman scheme to non-deposit taking NBFCs

56. Canara Bank launches ‘Webassurance’ with 4 life insurance products

Read Our Study Materials and Quiz

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