Banking Awareness Questions for IBPS RRB Clerk | 04th October 2018

National Bank for Agriculture and Rural Development has sanctioned an amount of Rs 335 crore under the Rural Infrastructure Development Fund (RIDF) to West Bengal. The fund, alloted in August, would be used for 158 minor irrigation projects and 23 flood protection projects.

NABARD All India Financial Inclusion Survey (NAFIS), conducted by National Bank for Agriculture and Rural Development (NABARD), revealed that farm households register higher income than the families solely dependent on non-farm livelihood activities in rural areas. Dr. Rajiv Kumar, Vice Chairman, NITI Aayog released the NAFIS report at a function held at India Habitat Centre in New Delhi. 88.10 per cent of the households reported having a bank account in this survey.

Centre for Economic Policy Research (CEPR) along with its knowledge partner and the government Think Tank, NITI Aayog are organizing two-day India Banking Conclave 2018 (IBC) in New Delhi between August 23-24, 2018. The conclave, planned with the objective of making the banking sector more adaptable to face multiple future challenges in the coming years, will be addressed by Union Ministers such as ArunJaitley, Finance Minister, PiyushGoyal, Railways Minister and Suresh Prabhu, Civil Aviation Minister apart from other important dignitaries such as Amit Shah, BJP President and Rajiv Kumar, Vice Chairman, NITI Aayog.

Export-Import Bank of India (Exim Bank) has signed a multilateral agreement to cooperate with New Development Bank (NDB) along with other member development banks of BRICS nations. New Development Bank (NDB) is promoted by the BRICS nations -- Brazil, Russia, India, China, and South Africa.

Premier stock exchange BSE has entered into an agreement with the Bombay Metal Exchange (BME) for the growth and systematic development of commodity derivatives markets in the non-ferrous metals complex. Through this memorandum of understanding (MoU), the BSE and the BME will co-ordinate and work jointly on initiatives to deepen the understanding of commodity market among stakeholders.

NABARD completed 36 years of service to the nation & celebrated the 37th Foundation Day on 12th July 2018.

SEBI approved amendments to buyback & takeover regulations and changed the time for announcing the price band of initial public offering (IPO) from 5 to 2 days. In a consultation paper, SEBI had proposed that entities would not be required to file draft papers for rights issue worth up to Rs 10 crore.

Export-Import Bank of India (Exim Bank) announced that it has extended $10 million worth of line of credit (LOC) to Seychelles. This is for healthcare and procurement of goods and projects.

HSBC has launched a new digital platform to simplify capital raising process through capital markets by providing real-time access to information such as investors’ feedback, profiles, client orders and deal pricing. The platform—MyDeal, contains all the information relating to a client’s capital markets transaction, and is updated on real time basis.

Foreign bank SBM would soon operate as a banking subsidiary of SBM Group in India under the name of SBM Bank (India) Ltd. It has also announced plans to launch six new branches in Delhi, Bengaluru, Kolkata, Pune, Ahmedabad and Jaipur by next year. Mauritius-based SBM stated it is the first foreign bank in India to obtain a wholly-owned subsidiary licence from the RBI. This new structure will provide more leeway to the bank in its branch expansion strategy.