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Latest Financial News and Banking News

Recent Financial News & Banking Updates:

(Dec. 22nd to Dec. 28th )

  1. Economic Growth Rate: India’s economic growth rate for 2015 -16 is 7.5% and this is often the first time that India crosses the major leading countries in terms of GDP growth.
    Brazil, Russia, China has below 7 percent economic growth.
    •    Expecting India might become third largest economy when 2030
    • Chief Economist of World Bank – Kaushik Basu.


  1. World Bank may review India’s GDP Forecast: Gross NPA (Non-Performing Advances) of commercial banks has exaggerated to 5.1% from 4.6%.


  1. CAD (Current Account Deficit):
    India’s CAD (Current Account Deficit) exaggerated to 1.6% of the value from 1.2% of previous quarter.
    CAD means that excess of imports of the worth of goods & services than its exports. CAD is measure of the country’s trade worth.
  2. India’s Exports might grow in 2016.


  1. Commerce and Industry Minister – Nirmala SeetaRaman.
  1. FIEO – Federation of Indian Export Organizations.
  1. GAIL could take 5% stake in international association of building 8.7 billion U. S. dollars of TAPI gas pipeline.
  1. CSR (Corporate Social Responsibility): Govt. has made it obligatory for the organizations to pay 2% of their annual profits for the social sector.
  1. In the fiscal year 2017, HSBC might pay over  44 crores.
  1. TRAI Chairman – R. S. Sharma.
  1. FIA –Free Trade Agreement
  1. BITA – Broad based Investments and Trade Agreement.
  2. Satyavati Barera: The first women COO (Chief Operations Officer) of Pwc India– one of the big four accounting firm in India. She started her career in Pwc corporations in 1980.


  1. From the last 4 years, India has paid Rs. 400 crores as commitment charges to the international agencies – ADB, Japan, and Germany as  part of Unutilized External Loans.
    – Precisely, 65% of the India’s external debts are unutilized.
  2. Income Tax Department has detected un-revealed amount (black money) value over 16000 crore for the past twenty months.
  1. FCRA – Foreign Contribution Regulation Rules.
  1. PFMS – Public Finance Management Services.
  1. CBDT (Central Board of Direct Taxes) has set a target of12.56 trillion for Mumbai Region- Largest tax collected region – from Mumbai over a third of total tax income is generated.


  1. FIPB – Foreign Investment Promotion Board.
    – FIPB has 9 FDI proposals.
    – Chairman: Shakti Kanta Das.
  1. To Exchange Pre-2005 Notespoint Extended:
    RBI set to increase the last date for exchanging the currency notes that were written before 2005 year to june 30th.


  1. PayTm founder Vijay Shekar Sharma told thatthey’re expecting $ 500 million to be value-added into the paytm wallet from the purchasers in 2016.


  1. BankingOmbudsman Scheme: 
    RBI said, there are over 9500 pending complaints with ombudsman scheme reported on various private and public sector banks.


  1. Block Chain technology created the customers to not worry of the fallacious activities in bitcoin transactions over the web.
    Block chain is that the digital technology which can be recorded all the bitcoin transactions and can’t be altered by anyone.
    Bitcoins is nothing but virtual currency which can accepted by Amazon, Walmart etc.,


  1. whichbank has created the cyclothone on Dec 25th to make awareness on cyber crimes because of exaggerated use of digital technology?
    AXIS Bank.
  1. FDIC– (Federal Deposit Insurance Corporation), S.A. primarily based Insurance Corporation.



  1. Lakshmi Vilas Bank’s freshly appointed MD & CEO: Parthasarathi Mukherjee



  1. DBS Asia Hub2 Pvt. Ltd.: Singaporebased mostly DBS bank has opened its native subsidiary in India as DBS Asia Hub 2  Ltd.
  1. Union Minister of state for Minority Affairs – Mukhtar Abbas Naqvi.
  1. As per the Sachar Committee Report – 20000 new bank branches may be opened within the areas wherever there is substantial minority population.
  1. TechMahindra is launching itscase
  1. BTI Paymentsprivate Ltd is white label ATM operator is aiming to add 1000 ATMs in next three- BTI’s CEO: K. Srinivas.
  1. TelecomMinister: Ravi Shankar
  1. IndiaPost can begin its payment bank by March 2016.

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