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Banking and Economy Awareness PDF– July 2019

1. Karnam Sekar takes over as MD and CEO of IOB


 Karnam Sekar has taken over the charge new Managing Q1. Who is the MD/CEO of IOB?
Director and CEO of Indian Overseas Bank from July 01, Q2. Headquarters of IOB?-
2019. He has replaced R Subramaniakumar. Chennai, TN
 Karnam Sekar is the Former MD of Dena Bank

2. Morgan Stanley India’s GDP at 6.2% in 2019 and 7.1% in 2020


 America based Investment Bank, Morgan Stanley has Q1. GDP growth rate for India as
predicted the GDP growth rate for India at 6.2% in 2019 per Morgan Stanley in 2019 or
and 7.1% in 2020. For 2018 it was 7.4%. 2020?
 Morgan Stanley has also cut the global growth estimate Q2. Global GDP growth rate as per
at 3% and 3.2%t for 2019 and 2020. Morgan Stanley in 2019 or 2020?

3. Christine Lagarde to be the next president of European Central Bank


 Christine Lagarde has been nominated as the president Q1. Who is the president of the
of the European Central Bank. She will replace Mario European Central Bank?- Mario
Draghi, whose term ends on October 31, 2019 Draghi

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 Christine Lagarde is the Managing Director of the Q2. Who will replace Mario Draghi
International Monetary Fund. She has announced to as the president of European
temporarily relinquish (give up) her responsibilities as Central Bank?- Christine Lagarde.
head of IMF. Economist David Lipton has been appointed Q3. Who is the interim MD of IMF?
as the interim MD (Acting Managing Director) of IMF in
place of Lagarde.
 The European Central Bank is the central bank for the
Eurozone, which comprises 19 member states of the
European Union.

4. Karnataka Bank launches web tool (Vasool So-Ft) for NPA recovery process
 Karnataka Bank Ltd has launched the web tool named Q1. Which bank has launched the
‘Vasool So-Ft’ (Vasool So-Fast) – to digitalise the NPA tool Vasool So-Ft?
(non-performing asset) recovery process of the bank. Q2. Purpose of Vasool So-Ft?
 The web tool Vasool So-Ft was launched by MD & CEO of Q3. MS CEO of Karnataka Bank?
Karnataka Bank Mahabaleshwara MS.
 The tool will enable easy and faster processing, real time
information and immediate decision making in the
recovery area.

5. Punjab & Sind Bank setups Cen-MARG for MSME for credit facilities
 Punjab & Sind Bank has set up the Centralised MSME & Q1. Which bank has launched Cen-
Retail Group (Cen-MARG) for credit facilities at its head MARG?
office in New Delhi. The unit is named as Cen-MARG. Q2. MD CEO of Punjab & Sind Bank
 Now, all MSME and retail credit approvals will be
performed at this centralized setup. Cen-MARG was
inaugurated by S. Harisankar, MD & CEO of Punjab &
Sind Bank.

6. RBI Constitutes Working Group on Core Investment Companies; Head- Tapan Ray
 The Reserve Bank of India has constituted a Working Q1. Chairperson?
Group to Review Regulatory and Supervisory Framework Q2. Number of members?
for Core Investment Companies.
 The working group has six members and is headed by
Shri Tapan Ray. He is a Non-Executive Chairman of
Central Bank of India and former Secretary, Ministry of
Corporate Affairs, Govt. of India.
 The committee will suggest measures to strengthen
corporate governance and disclosure requirements for
CICs, assess the adequacy of supervisory returns
submitted by CICs and suggest changes therein and
various other things for the betterment of CIC.

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7. V K Tyagi takes over as CVO of PNB


 V K Tyagi has been appointed as the chief vigilance officer (CVO) of Punjab National Bank
(PNB).
 Before this, he was a director in the Department of Economic Affairs (DEA) under the finance
ministry. He also holds 35 years of work experience in State Bank of India.

8. RBI appoints A K Misra as additional director in J&K Bank


 The Reserve Bank of India has appointed A K Misra as Q1. Recently RBI has appointed A K
additional director on the board of Jammu and Kashmir Misra on board of which bank?
Bank (J&K Bank). He is a former executive director of
RBI.
 A K Misra shall hold the office for a period of two years
up to July 2, 2021 or till further orders.

9. Government Reappoints N.S. Vishwanathan as RBI Deputy Governor for One Year
 N.S Vishwanathan has been reappointed as deputy governor of the Reserve Bank of India
(RBI) with effect from 4 July 2019. His tenure was to end on 3 July 2019.
 Vishwanathan is in charge of regulation of banks, non-banking finance companies and
cooperative banks.
 He is one of the three deputy governors of Central bank, besides B P Kanungo and M K Jain.

10. Yes Bank Acquires 9.47% Stake in Eveready by Invoking Pledged Shares
 Private sector lender Yes Bank has acquired over 9.47 Q1. Which bank has acquired the
percent shares of battery maker Eveready Industries by shares in Eveready Industries by
invoking pledged shares. invoking pledged shares?
 The 68,80,149 shares has been acquired by the Yes Bank Q2. Percent of shares acquired
to resolve the issue of loan default by a group company,
Mcleod Russel India Ltd (the borrower).
 The B M Khaitan group is the owner of Eveready and
Mcleod Russel.

11. Rajni Saraf appointed as CFO of J&K Bank


 Jammu and Kashmir Bank has appointed Rajni Saraf as its chief financial officer (CFO).
 The Board of Directors of the bank has appointed Rajni Saraf as chief financial officer of the
bank for a period of 6 months with effect from July 5, 2019

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12. Now SEBI to transfer 75% of its cash surplus to Government


 In its Union Budget 2019-20, Central Government has Q1. SEBI to transfer what percent
announced that The Securities and Exchange Board of of its profit surplus to govt?
India will now have to transfer 75% of its surplus from
the general fund every year to the Consolidated Fund of
India that is managed by the Central Government.
 SEBI should constitute a reserve fund and 25% of the
annual surplus of the general fund should be credited to
this reserve fund. The remaining i.e 75% should be
transferred by SEBI to the Consolidated Fund of India.
 SEBI has a surplus of ₹3,170 crore as per its 2017 balance
sheet.

13. Persons with foreign trips, steep electricity bills to file Income Tax return
 The Government has announced to made amendment in the Income Tax Act to make income tax
return filing mandatory for high spenders even if their taxable income is below the threshold
exemption limit of Rs 5 lakh.
 A person will be required to file income tax return with the following condition:
o Deposited an amount or aggregate of the amounts exceeding Rs one crore in one or more
current account
o incurred expenditure of an amount or aggregate of the amounts exceeding Rs two lakh
for himself or any other person for travel to a foreign country
o incurred expenditure of an amount or aggregate of the amounts exceeding Rs one lakh
towards consumption of electricity

14. Sovereign Gold Bond Scheme 2019-20 Series-II issue starts


 The Sovereign Gold Bond Scheme 2019-20 Series-II is Q1. Series?- 2nd series
now open for issue from July 08 to July 12, 2019. The Q2. Denomination
following are the major points to remember: Q3. Issue Price
 Denomination: Minimum investment in the Bonds shall Q4. Interest?
be one gram with a maximum limit of subscription per
fiscal year of 4 kg for individuals, 4 kg for Hindu
Undivided Family (HUF) and 20 kg for trusts
 Issue Price: ₹3,443/- per gram (Discount of Rs 50 per
gram on online payment/digital payment)
 Interest: 2.5%

15. RBI launches Medium term Strategy Framework – Utkarsh 2022


 RBI has launched its Medium-term Strategy Framework Q1. Name of the three- year
named “Utkarsh 2022”. The Medium-term Vision roadmap by RBI to improve
Statements set out the following: regulation and supervision
 Excellence in performance of statutory and other functions of RBI?
functions; Q2. “Utkarsh 2022” is a how many
 Strengthened trust of citizens and other Institutions in year roadmap?- 3 years- 2019 to

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the RBI; 2022


 Enhanced relevance and significance in national and
global roles;
 Transparent, accountable and ethics-driven internal
governance;

 Best-in-class and environment friendly digital as well as


physical infrastructure; and
 Innovative, dynamic and skilled human resources

16. Harideesh Kumar Appointed as Director of Institute of Banking Personnel Selection


 Karnataka based B Harideesh Kumar has been appointed as the Director of Institute of
Banking Personnel Selection (IBPS) for a period of three years.
 Before this, he was the Executive Director of Canara Bank.
 Kumar started his banking career with erstwhile Vijaya Bank in the year 1978.

17. NABARD to raise Rs 60,000 crore via non-convertible debentures in 2019-20


 National Bank for Agriculture and Rural Development Q1. NABARD will raise what
(Nabard) will raise long-term funds of Rs 60,000 crore amount via NCD?
through nonconvertible debentures in the current Q2. Chairman of NABARD?
financial year 2019-20.
 The own requirement of funds for NABARD is assessed
at Rs 30,000 crore. The remaining Rs 30,000 crore will be
for the Centre to cover the shortfall in various schemes
in rural development and sanitation in FY20.
 NABARD has already raised Rs 11,000 crore in the first
quarter ended June 30, 2019. Chairman of NABARD-
Harsh Bhanwala

18. Deposits in Jan Dhan accounts cross Rs 1 lakh crore


 Deposits in bank accounts opened under Jan Dhan Q1. Deposit in Jan Dhan account at
scheme have crossed the Rs 1 lakh crore mark. what level?
 As per the latest finance ministry data, the total balance
in over 36.06 crore Pradhan Mantri Jan Dhan Yojana
(PMJDY) accounts was at Rs 1,00,495.94 crore as on July
3.

19. Govt to launch 6th tranche of CPSE ETF on July 18; to raise Rs 10,000 crore
 The government is planning to raise up to Rs 10,000 crore from the sixth tranche of CPSE
Exchange Traded Fund (ETF) which would be launched on July 18, 2019.
 The CPSE Exchange Traded Fund (ETF) tracks shares of 11 Central Public Sector Enterprises
(CPSEs) — ONGC, NTPC, Coal India, IOC, Rural Electrification Corp, Power Finance Corp,
Bharat Electronics, Oil India, NBCC India, NLC India and SJVN.

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 The follow-on fund offer (FFO) 5 will have a base issue size of Rs 8,000 crore with an option to
retain oversubscription of another Rs 2,000 crore.
 Through the earlier five tranches of the CPSE ETF, the government has already raised Rs
38,500 crore-Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore in January
2017, Rs 2,500 crore from the third in March 2017, Rs 17,000 crore in November 2018 and Rs
10,000 crore in March 2019.

20. UBS predicts India’s GDP growth to 6.7% for FY20


 Swiss brokerage firm UBS has predicted India’s GDP Q1. India’s GDP growth rate in
growth rate for FY20 (2019-20) at 6.7%. This is 20 bps FY20 as per UBS?
less than its earlier prediction of 6.9%. Q2. India’s GDP growth rate in
 As per UBS, India’s GDP growth rate in FY19 was 6.8%. FY19 as per UBS?

21. Flipkart to launch co-branded credit card in partnership with Axis Bank,
Mastercard
 e-commerce company Flipkart has partnered with Axis Q1. Flipkart has partnered with
Bank and Mastercard for a co-branded credit card. which bank for its credit card?
 The credit card will offer a 5% discount on Flipkart
purchases and other benefits. The Flipkart-Axis Bank
Credit Card will be offered to select users in July and it
will expand to all over the coming weeks.
 Some other e-commerce giants who offer credit cards
are: Snapdeal (with HDFC Bank) and Amazon (with ICICI
Bank)

22. Anshula Kant appointed MD and CFO of World Bank


 Anshula Kant of India has been appointed as managing Q1. Who has been appointed as
director and chief financial officer of the World Bank. the MD and CFO of World Bank?
She is the managing director of the State Bank Of India. Q2. Anshula Kant is associated with
 In her role as Managing Director and Chief Financial which bank?- SBI
Officer, Anshula Kant will be responsible for financial Q3. President of World Bank?-
and risk management of the World Bank Group, David Malpass.
reporting to the President i.e David Malpass.
 Kant is a graduate in Economic Honours from Lady Shri
Ram College for Women and a Post-Graduate in
Economics from Delhi School of Economics.

23. World Bank gives USD 250 million loan for “First Resilient Kerala Program”
 The Government of India, the Government of Kerala and Q1. Amount of loan.
the World Bank have signed a Loan Agreement of USD Q2. World Bank’s first State
250 million for the First Resilient Kerala Program. Partnership in India with?
 The aim is to enhance Kerala’s resilience against the
impacts of 2018 flood.

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 This is also the First ‘State Partnership’ of the World


Bank in India.

24. Aditya Birla Payments Bank announces shut down


 Aditya Birla Payments Bank has shut down its operations within 18 months of getting the
license from RBI.
 It was a venture between Aditya Birla Nuvo (51%) and Idea Cellular (49%). It has asked its
depositors to transfer their balance before July 26, 2019.
 Stringent KYC norms and stiff competition were some of the key reasons that led to the
winding-up of the payments bank.

25. HDFC Bank launches Credit card for CSC’s Village Level Entrepreneurs (VLEs)
 HDFC Bank and Common Service Centre (CSC) SPV of Q1. CSC has launched the credit
Government of India, have launched a co-branded credit card ‘Small Business MoneyBack
card ‘Small Business MoneyBack Credit Card’. It is aimed Credit Card’ in association with
at small traders and village level entrepreneurs (VLEs). which bank?
 The credit card is designed for CSC’s VLEs, and VLE-
sourced customers. It will give its users easy access to
credit for day-to-day business expenses.
 The card was launched by Aditya Puri (MD at HDFC Bank)
and CSC Chief Dinesh Kumar Tyagi.

26. Interest rate on GPF reduced to 7.9%


 Central Government has reduced the interest rate on Q1. The present rate of GPF?
General Provident Fund (GPF) by 10 basis points to 7.9%
for the Quarter July- Sept 2019.
 This is in line with the 10 bps reduction in interest rates
of Small Savings Scheme.
 All government employees who joined service on or
before December 31, 2003 contribute to GPF.

27. Andhra Bank launched AI chatbot ABHi


 Andhra Bank has launched an Artificial Intelligence Q1. ABHi chatbot launched by
interactive assistant chatbot named “ABHi.” which bank?
 Using the chatbot that is available on the official website Q2. Who is the MD/CEO of Andhra
of Andhra Bank i.e www.andhrabank.in, its customer Bank?- J. Packirisamy
can get access to instant information 24×7, anytime they
want.
 Customers can get information on digital banking, loans,
banking services, govt. schemes, insurance, senior
citizen, RuPay Offers, Aadhaar services, payment mode,
deposit/EMI Calculator, lodge a customer complaint,
know nearest Branch / ATM on Google map, recharge

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prepaid mobile etc.

28. ADB cuts India’s GDP growth for FY20 from 7.2% to 7.0%
The Asian Development Bank (ADB) has reduced the GDP Q1. GDP Growth rate for India as
Growth rate for India in 2019-20 (FY20) from 7.2% to 7.0%. per ADB in FY20 – 7.0%
For 2020-21 India is expected to grow at 7.2% as per ADB. Q2. GDP Growth rate for India as
Earlier this was 7.3%. per ADB in FY21- 7.2%
With this, India will remain to be the fastest-growing major
economy in the world.

29. ICICI Bank launches digital platform InstaBIZ for MSMEs


 ICICI Bank has announced the launched a new digital Q1. InstaBIZ platform launched
platform named “InstaBIZ” that is made for MSME and by?- ICICI Bank
self-employed customers. Q2. InstaBIZ for which type of
 The platform will help the MSME and self-employed customer?- MSME and self
customers to undertake their business banking emplyeed.
transactions digitally and instantly.
 Customers can avail around 115 feature and services on
their mobile phone or internet banking.
 This is a first-of-its-kind comprehensive digital platform
for businesses. It allows an overdraft of upto Rs 15 lakhs
for its customers and upto Rs 10 lakh for its non-
customer.

30. Rhino Bonds to be the world’s first financial instrument for species conservation
 Zoological Society of London and Conservation Capital Q1. Worth of bond?
will launch in 2020, a five-year Rhino Bond worth US$50 Q2. Time period of the bond?
million. It would be the world’s first financial instrument Q3. world’s first financial
for species conservation. instrument for species
 The five-year bond will cover conservation efforts at five conservation for which animal?
sites in South Africa and Kenya. Investors will be paid
back their capital and a yield if the number of animals
increases.

31. World Bank drops USD 715 mn Amaravati Sustainable Capital City from its project
list
 The World Bank has “dropped” out of the Amaravati Q1. Cost of the project?- USD 715
Sustainable Infrastructure and Institutional million
Development Project from its project list. It means that Q2. World Bank has dropped which
now, World Bank will not fund this project of the Andhra project? or of which state?
Pradesh Government. Q3. Which bank has pulled out of
 The total project cost was USD 715 million. Out of this the Amaravati Sustainable
the World Bank planning to provide loan of USD 300 Infrastructure and Institutional

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million while AIIB had committed USD 200 million. Development Project
 An Offical of the World Bank informed that the
Government of India has withdrawn its request to the
World Bank for financing the project. Hence the decision
was taken.

32. Standard Chartered to be first foreign bank to launch operation at GIFT IFSC
 Standard Chartered has received in-principle regulatory Q1. First foreign bank to launch
approvals to set up its IFSC Banking Unit in Gujarat operation at GIFT IFSC?
International Finance Tec-City (GIFT City).
 With its operation here, it will become the first foreign
bank to launch operations at International Financial
Services Centre (IFSC).
 UK based Standard Chartered bank is expected to start
the operation in GIFT city by the end of 2019.

33. Centre Approves Rs 206.8 crore for FY20 Towards Implementation of Agriculture
Export Policy Scheme
 The Central Government has approved an outlay of Rs 206.8 crore for a central sector scheme
titled ‘Implementation of Agriculture Export Policy’ for the financial year 2019-20.
 The ‘Agriculture Export Policy, 2018’ is aimed at doubling farmers’ income by 2022.
 The government seeks to double farm exports to $60 billion by 2022 from $30 billion in 2018.
 The Policy will invest Rs 1,400 crore to set up specialised clusters in different states for
different produce to push exports.

34. IMF predicts GDP growth for India at 7% and 7.2% for 2019 and 2020
 The International Monetary Fund (IMF) has projected Q1. GDP Growth rate of India as
the GDP Growth rate for India at 7.0% in 2019 and 7.2% per IMF for 2019 and 2020?
in 2020. There is a reduction of 0.3% as per earlier Q2. Global GDP Growth rate as per
prediction by IMF. IMF in 2019 and 2020?
 This was announced in the World Economic Outlook, July Q3. Who publishes the World
2019 released by IMF. The global GDP growth rate is Economic Outlook Report?
predicted at 3.2% in 2019 and at 3.5% in 2020.

35. Vodafone shuts M-Pesa mobile banking business in India


 M-Pesa, that is a mobile phone-based banking service of Q1. M-Pesa is operated by?-
Vodafone has closed its operations in India with effect Vodafone
from July 15, 2019. Q2. Which mobile-based banking
 M-Pesa had not been taking new deposits for a while service has recently closed its
now. operation in India?

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36. Bandhan Bank appoints Siddhartha Sanyal as chief economist


 Siddhartha Sanyal has been appointed as the chief economist at Bandhan Bank.
 He will be the head of research and will spearhead the bank’s research and business strategy.
MD and CEO of Bandhan Bank- Chandra Sekhar Ghosh

37. Yes Bank launches “Smart Edge for MSMEs” programme for MSME loans
 Yes Bank has launched a program named “Smart Edge Q1. “Smart Edge for MSMEs”
for MSMEs” under which it will offer secured working programme has been launched by
capital loan between Rs 1 crore to Rs 3 crore to MSME. which bank?
 The loan will be in the form of overdraft, letter of credit, Q2. Maximum loan under “Smart
and financial bank guarantees. This is a first-of-its-kind Edge for MSMEs” programme?
surrogate lending model for MSME.
 For this programme, MSMEs would have to furnish their
GST returns and operative bank account statements for
the last 12 months along with the KYC document for
assessment. Collateral acceptable to the bank will be
taken as security for the loan.

38. ‘SB Challenger’ campaign launched by Corporation Bank


 Corporation Bank has launched a campaign named ‘SB Q1. Which bank has started the ‘SB
Challenger’ to promote its Savings Bank Account base. Challenger’ campaign
The campaign will run till August 23, 2019.
 The campaign is aimed at attracting customers under the
bank’s premium savings account variants.

39. Sebi fixes minimum staggered delivery period for commodity futures at 5 days
 SEBI has fixed the minimum duration of the staggered Q1. Minimum staggered delivery
delivery period at five working days for all commodity period for commodity futures?
futures. This has been done to bring uniformity in the Q2. What is Staggered delivery
timeline across exchanges. period?
 Staggered delivery period is the duration during which
sellers or buyers having open position may submit an
intention to give or take the delivery of the contract.

40. Account Aggregator Body ‘Sahamati’ Announced


 Nandan Nilekani has announced an industry body called Q1. Name the body that will be
“Sahamati” which will help individuals and small formed for the seamless sharing of
businesses share their digital financial data with third- data between financial bodies of
parties in a safe and secure manner. He is the former all kinds centered around user
chairman of UIDAI. consent?- Sahamati
 It is based on the ‘Account Aggregator’ ecosystem. The Q2. Sahamati is based on?-
‘Account Aggregator’ (NBFC-AA) is a new class of NBFC Account Aggregator Model or
approved by the RBI in 2016, whose primary NBFC-AA

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responsibility is to facilitate the transfer of user’s Q3. Who is the head of Sahamati?-
financial data with their explicit consent. BG Mahesh
 The Account Aggregator framework, in theory, should
allow for the seamless sharing of data between financial
bodies of all kinds centered around user consent (i.e
‘Sahamati’).
 Sahamati has been formed as a Section 8 non-profit.
Sahamati will be headed by former journalist BG
Mahesh. Sahamati will apply for the SRO (self-regulatory
organisation) licence with the RBI, which will give it a
self-governing body status.

41. IBBI Sets 1 Year Deadline for Completion of Liquidation Process, 90 Days for
Compromise by Stakeholders
 The Insolvency and Bankruptcy Board of India (IBBI) has Q1. As per IBBI the process of
announced that it has made the liquidation process a liquidation must be finished within
time-bound affair. Now the process of liquidation must how much time of its
be finished within one year of its commencement. commencement?
 The new regulations also say that a compromise Q2. Compromise between the
between the stakeholders must happen within 90 days stakeholders must happen within
of the liquidation order. how many days of liquidation?
 For these changes, the Insolvency and Bankruptcy Board
of India (Insolvency Resolution Process for Corporate
Persons) (Amendment) Regulations, 2019 and the
Insolvency and Bankruptcy Board of India (Liquidation
Process) (Amendment) Regulations, 2019 have been
notified.

42. Govt increases authorised capital of IOB by Rs 5k crore to Rs 15,000 crore


 The government has increased the authorised capital of Q1. New authorised capital of IOB?
Indian Overseas Bank (IOB) by Rs 5,000 crore from Rs Q2. MD and CEO of IOB?
10,000 crore to Rs 15,000 crore.
 The increase in authorised capital will enable the Bank
to take steps to shore up its capital adequacy by way of
issue of share capital including in case of further capital
infusion by the Government.
 Managing Director and chief executive officer of IOB-
Karnam Sekar.

43. Reserve Bank relaxes end-use stipulations under ECB for Corporates and NBFCs
 The Reserve bank of India has relaxed the end-use Q1. minimum average maturity
restrictions relating to external commercial borrowings for period in ECB for working capital
Working Capital requirements, General Corporate purposes purposes?- 10 years
and Repayment of rupee loans. Now the eligible borrowers Q2. minimum average maturity

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will be allowed to raise following ECBs from recognised period in ECB for repayment of
lenders, except foreign branches/ overseas subsidiaries of Rupee loans for capital
Indian banks: expenditure?- 7 years
o ECBs with a minimum average maturity period of 10 Q3. minimum average maturity
years for working capital purposes and general period in ECB for repayment of
corporate purposes. Rupee loans for purposes other
o ECBs with a minimum average maturity period of 7 than capital expenditure?- 10 years
years for repayment of Rupee loans availed
domestically for capital expenditure. For repayment
of Rupee loans availed domestically for purposes
other than capital expenditure and for on-lending by
NBFCs for the same, the minimum average maturity
period of the ECB would have to be 10 years.
o It has further been decided to permit eligible
corporate borrowers to avail ECB for repayment of
Rupee loans availed domestically for capital
expenditure in manufacturing and infrastructure
sector and classified as SMA-2 or NPA, under any
one-time settlement arrangement with lenders.

44. India received highest-ever FDI worth $64.37 billion in 2018-19


 India has received the highest-ever FDI inflow of $64.37 Q1. Amount of FDI in 2018-19?
billion during the fiscal year 2018-19. Q2. Highest ever FDI in which
 According to the Annual Report 2018-19 of the Department year?- 2018-19
for Promotion of Industry and Internal Trade (DPIIT), foreign
direct investments (FDI) worth $286 billion were received in
the country in past five years.

45. Shri Atanu Chakraborty nominated on RBI Central Board


 The Central Government has nominated Shri Atanu Chakraborty as a Director on the Central
Board of Directors of Reserve Bank of India. He is a Secretary in the Department of Economic
Affairs, Ministry of Finance.
 He has been nominated in place of Shri Subhash Chandra Garg.
 Shri Rajiv Kumar, the new Finance Secretary is also a Director on the Central Board of
Directors of Reserve Bank of India.

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Banking and Economy Awareness PDF– July 2019

Loans from Banks to India


 IMF Approves USD 6 billion Loan to Cash-Strapped Pakistan
 EXIM Bank has extended Line of Credit of USD 100 million to the Government
of Independent State of Papua New Guinea for the purpose of financing
infrastructure related projects.
 Apart from this EXIM Bank has also extended Line of Credit of USD 24.50
million to the Government of the Republic of Senegal for the purpose of
financing up-gradation and rehabilitation of Health Care System in the
Republic of Senegal.
 L&T Finance arm gets $100 million from AIIB for green energy funding.
 ADB sanctions Rs 1,925 cr power project in Tripura

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Banking and Economy Awareness PDF– July 2019

Read Our Study Materials and Quiz

 Banking Awareness
 Banking Awareness Quiz
 Daily Current Affairs
 Current Affairs Quiz
 Static GK
 Static GK Quiz
 Government Schemes
 Quiz on Government Schemes
 Insurance Awareness
 Insurance Awareness Quiz

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