Banking Awareness

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Introduction

A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial stability of a country, banks are highly regulated in most countries.India has an extensive banking network, in both urban and rural areas.

Banking News updated 17th Feb 2018

Heyaa we are providing 17th feb banking updates/ News important for sbi clerk, syndicate PO, Canara bank PO. According to the trend gk questions asked on Banking Awareness are related to the countries, events or anything that has been in news for a while. Apart of general awareness section strong command on gk increases your chances in Interview also.

  •  RBI Rolls Out New Stressed Assets Framework to Tackle Bad Loan Problem


i. The Reserve Bank of India (RBI) scrapped numerous loan restructuring programmes, asking banks to immediately identify defaults and make disclosures every Friday to the RBI credit registry, starting from February 23.
ii. The apex bank has also warned banks of monetary penalties and higher provisions if they are found to have violated the stringent new norms.

 RBI Relaxes Priority Sector Lending Rule for Banks 

  •  Reserve Bank of India has made banks' priority sector norms lenient by saying that all loans to micro small and medium enterprises (MSME) will henceforth qualify as priority sector lending.  
  •  Till date, loans up to Rs 10 crore per MSME borrower was considered for priority sector calculation.
  • The sub-target for bank lending to the micro enterprises has been 7.50 percent of adjusted net bank credit or credit equivalent amount of off-balance sheet exposure, whichever is higher.
  • Foreign banks will also have to follow 8% sub-target for lending to the small and marginal farmers.

Bank of Baroda to Exit South Africa by March-End

  • State-owned Bank of Baroda has decided to exit by March-end its South Africa operations after 21 year.
  • The bank stated that it is exiting operations in South Africa as part of its strategic plan for rationalisation of overseas branches.

Rs. 11,500 crore fraud rocks state-run PNB: Govt. swings into action, ask all lenders to "clean up" 

  • The country's second largest lender said it had detected some unauthorised transactions in one of its branches for the benefit of few account holders.
  • It is reported Rs, 11,500 crore unauthorised transaction in one its branch in Mumbai.

PNB detects India’s biggest bank fraud

The state-owned lender has suspended 10 of its officers and lodged a complaint against celebrity jewellery designer Nirav Modi for committing fraudulent transactions worth over USD 1.77 billion in one of its Mumbai branches. 

Yes Bank makes India INX debut with $600 mn MTN bonds

Yes bank today said it has listed USD 600 million bond issued under its maiden USD 1 billion MTN programme, on Global Securities Market (GSM) of India INX.

Haruhiko Kuroda Reappointed As Bank Of Japan Chief

  • Japan's government has reappointed Bank of Japan Governor Haruhiko Kuroda for another term .
  • The government also submitted to parliament its nomination of Masazumi Wakatabe, a professor at Waseda University.
  • He is an advocate of aggressive monetary easing, as deputy governor.

Static/ Current Banking Updates

Commensurate to banking exams we noticed that most of the question asked in general awareness section are based on current gk topics. Static banking awareness are related to the countries, events or anything that has been in news for a while.

  • Bank of Baroda Chairman- Ravi Venkatesan,
  • Managing Director & CEO- P.S.Jayakumar.

Of the total 5,558 branches, the Baroda (Gujarat) headquartered bank has 107 overseas branches.

  • Urjit Patel is the 24th Governor of RBI.
  • RBI Headquarters in Mumbai.

What is INX?

India INX is the Country's first international exchange, located at International Financial Services Centre, GIFT city in Gujarat.

What is MTN?

MTN stands for medium term note (MTN) is a note that usually matures in five to 10 years. Simply we can say it is a debt note that usually matures (is paid back) in 5- 10 years, but the term may be less than one year or as long as 100 years. They can be issued on a fixed or floating coupons basis.

Static Banking Awareness

Static banking awareness related to current gk

  • Yes Bank MD and CEO- Rana Kapoor
  • Headoffice of Yes Bank- Mumbai
  • YES BANK is India’s fifth largest private sector Bank.
  • The Bank of Japan (BOJ) is the central bank of Japan.
  • Headquarters of BOJ: Tokyo, Japan.
  • The Bank of Japan was established under the Bank of Japan Act (promulgated in June 1882) and began operating on 10th October 1882, as the nation's central bank.
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Akshay 2 months ago

That was very informative article for Banking exam. I am preparing for Bank exam and needs to be updated. This Blog helps me. Thanks Juhi

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