iMPORTANT #NEWS OF #Banking & Finance FOR uPCOMING - #Bank Exams- #IbpsPo2013 1. Deutsche Bank has become the first bank in India to use the Reserve Bank of India (RBI)’s window to swap fresh foreign #currency non-resident (bank), or FCNR (B), dollar funds. It has raised about $450 million FCNR (B) deposits from about 10 non-resident Indians and swapped it with the central bank, 2. YES Bank has become the first bank to raise $ 225 million funds overseas using the swap loan facility provided by the Reserve Bank of India (RBI) . The private sector lender raised $255 million ($180 million and €58 million) by way of dual currency, multi-tenor syndicated loan facility. 3. Canara Bank and Apollo Munich Health Insurance (AMHI) have entered into a bancassurance tie-up. This is the first such tie-up for the insurance company in its six years of existence. Bancassurance is distribution of insurance products through a bank’s network. 4. In September 4, RBI had announced a swap window to attract FCNR (B) dollar funds. Accordingly, it has been decided to offer such a window to banks to swap fresh FCNR (B) dollar funds, mobilized for a tenure of at least three years, at a fixed rate of 3.5% a year for the tenure of the deposit,”. 5. #World Bank lowers 2013 growth forecast for East Asian developing countries to 7.1% 6. WTO lowers growth projection for world trade in 2013 to 2.5% against 3.3 per cent projected in April and 4.3 per cent earlier in the year. 7. Own Your NPA’ campaign launched by IDBI: In a bid to speedily recover Non-Performing Assets (NPA), the IDBI Bank has launched a campaign named ‘Own Your NPA’. 8. Tata Communications Payment Solutions Ltd (TCPSL), a wholly owned subsidiary of Tata Communications Ltd, today inaugurated Indicash ATMs in Mysore. Note: The company’s first white-label ATM was launched at Chandrapada village in Thane district on June 27. 9. Financial Stability Board (FSB): FSB is an international body which was established after the 2009 G-20 London summit in April 2009 as a successor to the Financial Stability Forum. Note: i. FSB work is to coordinate at the international level the work of national financial authorities and international standard-setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies. ii. The Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI) and the Ministry of Finance are the members of FSB from India. 10. China launched its first direct bank, a new mode of providing online banking services without any entity outlets. The direct bank has been launched by the Bank of Beijing in co-operation with the Netherlands-based ING Group. Note: i. A direct bank is a bank without any branch network that offers its services remotely via online banking and telephone banking and may also provide access via ATMs (often through interbank network alliances), mail and mobile.
Posted on: Tue, 15 Oct 2013 18:41:56 +0000
Trending Topics
Recently Viewed Topics
© 2015