Banking Awareness Questions for Canara Bank PO and Clerk | 23rd November 2018

India and Asian Development Bank (ADB) has signed a $150 million loan agreement to establish the country's first multi-skills park in Madhya Pradesh to create a more skilled workforce. The Global Skills Park (GSP), to be set up in Bhopal, will help enhance the quality of Technical and Vocational Education and Training (TVET) system in the state.

The Justice Sodhi committee appointed by market regulator SEBI to make the extant insider trading regulations foolproof has ironically ended up making suggestions that could have the effect of letting insider off the hook.

The Government has constituted a seven-member ministerial panel headed by Bihar Deputy Chief Minister Sushil Modi to examine modalities for revenue mobilisation in case of natural calamities and disasters. The panel would submit its report to the GST Council by October 31st 2018, an official release said. Earlier in the day, the GST Council -- chaired by Finance Minister Arun Jaitley -- decided to set up a Group of Ministers (GoM) to examine the legality of imposing a new tax on certain goods to raise resources for natural calamity-hit states like Kerala. Assam Finance Minister Himanta Biswa Sarma, Kerala Finance Minister Thomas Isaac and Punjab Finance Minister Manpreet Singh Badal are part of the group.

Flipkart-owned PhonePe clocks 42.4 million UPI transfers.

Registering over 137 Mn Unified Payments Interface (UPI) transactions in the month of September 2018, One97 Communications, which owns digital payments brand Paytm, today (October 15) announced that it contributed over 33% of overall UPI transactions.

Reliance Industries’ Chairman Mukesh Ambani has emerged as the richest Indian for the 11th consecutive year with a net worth of USD 47.3 billion, according to Forbes magazine. Ambani is also the year’s biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service. As per the ‘Forbes India Rich List 2018’, Wipro Chairman Azim Premji has retained the second spot, adding USD 2 billion to his wealth at USD 21 billion; while ArcelorMittal Chairman and CEO Lakshmi Mittal moved a place ahead to the third slot with a net worth of USD 18.3 billion, increasing his wealth by USD 1.8 billion.

The services sector is the key driver of India's economic growth. The sector has contributed 55.65 per cent of India's Gross Value Added at current price in Q1 2018-19 and employed 28.6 per cent of the total population.

William D. Nordhaus and Paul M. Romer were announced as the winners of the 2018 Nobel Prize in economics.

The Economic Survey 2017-18, presented in the Parliament claims that post introduction of Good and Services Tax (GST) regime, there has been a 50 per cent increase in the number of indirect taxpayers, besides a large increase in voluntary registrations, especially by small enterprises that buy from large enterprises and want to avail themselves of Input Tax Credits (ITC). A preliminary analysis of the GST data states that as on December 2017, there were 9.8 million unique GST registrants slightly more than the total Indirect Tax registrants under the old system (where many taxpayers were registered under several taxes).

State Bank of India, the largest lender with a fifth of the market share, launched a payments machine that would help merchants eliminate the multiple choices that they keep to facilitate transactions from cards to QR code based payments. The new device titled MOPAD, or Multi Option Payment Acceptance Device, is a Point of Sale (PoS) terminal that would along with cards accept payments through UPI, Bharat QR, and SBI Buddy wallet which till now required different tools to receive payments.

The Reserve Bank of India has constituted a 10-member ‘High Level Task Force on Public Credit Registry (PCR) for India’, which will, among other things, suggest a roadmap for developing a transparent, comprehensive and near-real-time PCR for India. Headed by YM Deosthalee, ex-CMD, L&T Finance Holdings, the task force includes Sekar Karnam, DMD & Chief Credit Officer, SBI; Vishaka Mulye, ED, ICICI Bank; Rashesh Shah, Chairman and CEO, Edelweiss Group; and Sriram Kalyanaraman, MD and CEO, National Housing Bank.

Karur Vysya Bank (Tamil) is an Indian old private-sector bank, headquartered in Karur in Tamil Nadu.

In his address to the Parliament, while presenting the Budget for 2018, Finance Minister Arun Jaitley stated that NITI Aayog will initiate a national program to direct efforts in artificial intelligence. The Budget doubled the allocation on Digital India programme to Rs. 3073 crore in 2018-19.

The Government of India has notified the Electoral Bond Scheme 2018. As per provisions of the Scheme, Electoral Bonds may be purchased by a person, who is a citizen of India or incorporated or established in India. It may be noted that Electoral Bond shall be valid for fifteen days from the date of issue and no payment shall be made to any payee Political Party if the Bond is deposited after expiry of the validity period. The bond deposited by any eligible political party to its account shall be credited on the same day.

Punjab National Bank (PNB), which was recently hit by a multi billion dollar fraud by manipulation of its financial messaging -- Swift -- system, has been ranked as the best PSU bank in the overall digital transactions category in India. The bank said in a statement on Saturday: "Based on the recent findings of DFS (Department of Financial Services), PNB is ranked the number 1 PSU bank in digital transactions in India." A Rs. 13,500-crore fraud came to light in January, when it was found that the financial messaging system SWIFT was manipulated. It was used to issue Letters of Undertakings (LoUs) to conduct the fraud.