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Yashovardhan Birla declared 'wilful defaulter' by UCO bank

3 hrs ago
Yashovardhan Birla is the director of Birla Surya and also chairman of the Yash Birla Group which has more than a dozen companies.

New income tax rules with revised guidelines comes in effect from today

3 hrs ago
CBDT new guidelines says that any offence connected to undisclosed foreign bank account or assets in any manner cannot be compounded.

Net Banking gets cheaper; RBI removes charges on RTGS & NEFT; sets up Committee on ATM charges

Jun 7, 2019
Now, transfer funds by paying a little or even no extra charges! The Reserve Bank of India has done away with the charges levied on fund transfers through RTGS and NEFT.

RBI Monetary Policy: RBI cuts Repo Rate by 25 bps, cuts GDP Growth rate, revises inflation target upwards

Jun 6, 2019
RBI's Second Bi-monthly Monetary Policy Statement 2019-20 reduces the policy Repo Rate under the Liquidity Adjustment Facility (LAF) to 5.75 percent from 6 percent. Know the key highlights of the RBI Policy statement here!

Nilekani panel suggests 24x7 RTGS, NEFT, elimination of all charges

Jun 4, 2019
The panel has suggested that there should be no convenience fee on payments made to government agencies by customers.

Committee on Digital Payments submits report to RBI; India delivers Mi-24 choppers to Afghanistan – Current Affairs

May 20, 2019
The Reserve Bank will now examine the recommendations of the Committee. If necessary, the bank will merge the recommendations with the recently released ‘Payment Systems Vision 2021’, published on May 15, 2019.

RBI releases vision document for e-payment system; India joins initiative against online extremism - Current Affairs

May 16, 2019
The Payment Systems Vision 2021 states 36 specific action points and 12 specific outcomes. The document deliberates on boosting customer awareness, setting up a 24X7 helpline and self-regulatory organisation for e-payment service providers.

Jet Airways crisis: Jet Airways top management team of CEO, CFO resigns

May 15, 2019
The grounding of Jet’s operations has put the future of over 20,000 employees at stake who were left with no work at hand. Besides facing heavy losses in the stock market, Jet also faces the challenge of passenger refunds of thousands of crores, dues to vendors and over Rs 8,500 crore bank debt.

IMF bails out cash-strapped Pakistan with new loan; India hosts two-day WTO meeting- Current Affairs

May 13, 2019
Under the new loan deal, Pakistan will receive $6 billion from the IMF in addition to $2 to $3 billion from the World Bank and Asian Development Bank over the next three years.

RBI imposes fines on PPI issuers; INS VELA submarine to be launched - Current Affairs

May 5, 2019
A penalty of Rs 3.05 crore has been imposed on Vodafone m-pesa and Rs 1 crore each on Mobile Payments, PhonePe, Private and GI Technology.

World Day for Safety and Health at Work observed; US places India on ‘Priority Watch List’ – Current Affairs

Apr 28, 2019
The day has been observed every year on April 28 to stress on the prevention of accidents and diseases at work.

RBI to issue new Rs 20 banknote; RBI extends NBFC Ombudsman Scheme to Non-Deposit Taking NBFCs - Current Affairs

Apr 27, 2019
The new Rs 20 banknote has motif of Ellora Caves on the reverse, depicting the country's cultural heritage. The base colour of the note is Greenish Yellow. RBI extended the coverage of Ombudsman Scheme for Non-Banking Financial Companies (NBFCs), 2018 to eligible Non Deposit Taking Non Banking Financial Companies (NBFC-NDs).

RBI sells entire stake in Nabard, NHB; Salim Khan, Helen conferred with Deenanath Mangeshkar Award– Current Affairs

Apr 25, 2019
The second Narasimham committee report had stated that RBI could not own entities that are regulated by it.

Madras High Court lifts ban on ‘TikTok’ App; RBI issues Rs 50 banknotes signed by new Governor - Current Affairs

Apr 25, 2019
TikTok, a platform for short-form mobile videos, allows users to create and share short videos with special effects. The app became hugely popular in India but was criticised by some politicians who say its content is inappropriate.

US to end sanctions waivers for Iranian oil importers; UAE Cabinet adopts National Artificial Intelligence Strategy – Current Affairs

Apr 22, 2019
While re-imposing sanctions on exports of Iranian oil, the United States had granted waivers to eight economies that had reduced their purchases of the oil.

Current Affairs 9 April 2019 Digest 6: Graham Reid appointed new men’s hockey coach; Dream11 becomes first Indian gaming unicorn

Apr 9, 2019
India had been without a head coach ever since Harendra Singh was sacked after the men's team exited the Hockey World Cup at home in the quarter-final following a 2-1 loss to the Netherlands.

Current Affairs 9 April 2019 Digest 4: RBI's norms for banks to set up currency chests; India highest recipient of remittances in 2018

Apr 9, 2019
The Reserve Bank of India (RBI) issued the guidelines for banks to set up new currency chests. The area of the strong room or vault of the new currency chest shall be of at least 1500 square feet. India was positioned as the world’s top recipient of remittances with its diaspora sending USD 79 billion back home in 2018, as per World Bank.

Current Affairs 8 April 2019 Digest 2: Merger of Lakshmi Vilas Bank with Indiabulls Housing; Army Commanders' Conference 2019

Apr 8, 2019
Private sector lender Lakshmi Vilas Bank Ltd on April 5, 2019 announced its merger with mortgage financier, Indiabulls Housing Finance Ltd in an all stock deal. The merged entity will be named as ‘Indiabulls Lakshmi Vilas Bank’ and will be among the top eight private banks in India by size.

Current Affairs 6 April 2019 Digest 1: David Malpass named World Bank President; Vikram Kirloskar takes charge as CII President

Apr 6, 2019
David Malpass, senior Treasury official in the Trump administration has been unanimously chosen as the new President of the World Bank.

Current Affairs 05 April 2019 Digest 1: Asian Development Outlook 2019; Hawking’s Theory of Dark Matter denied

Apr 5, 2019
As per the ADB report, since oil prices rose and Asian currencies depreciated, inflation edged up last year but remained low by historical standards.
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