Saturday, February 27, 2016

20 Most Important Banking Awareness For LIC AAO Exam 2016

1.World Bank chief Jim Yong Kim and Salesforce CEO Marc Benioff have been elected to the World economic forum (WEF) board of Trustees.

2.Mahendra Retail partners with start-ups for mother and child careAimed at changing its business model, the six-year-old retail company expects to enter a range of advisory and consultancy services in the area of mother and child care.

3.Japan based Investment firm SoftBank has pumped in an additional Rs 100 Crore in online property listing start-up Housing.com. SoftBank, the largest investor with about 30 per cent stake in the Mumbai-based start-up, has so far invested about $100 million (₹650 crore) in the company.
4.Future general life Insurance has partnered with GIC Housing Finance ltd to offer group credit life Insurance through one of Its products – Future General Loan Surakhsa Plan

5. Eros International’s EROS NOW ties up with Chinese Technology firm LeEco

6. Tata motor’s owned Jaguar Land rover became britain’s Largest automotive manufacturer(Overtaking Japan’s Nissan)

7. The Reserve Bank of India has sought an additional Rs 26,000 crore from the government to be injected into state-run banks by 2018

8. Freecharge launches its new virtual card ‘Freecharge Go’.
•This card has been launched in association with Yes Bank
•It is powered by MasterCard


9. Government has appointed Sunil Mehta as Executive Director of Corporation Bank.

10.IRDAI has received applications from 6 Foreign reinsurance companies for opening Branches in India.

11. VBHC Value Homes (formerly known as Value and Budget Housing Corporation Private Limited) has appointed Ravi Ramu as CEO and MD.

12. Atulesh Jindal has been appointed as the new Chairman of CBDT (Central board of direct Taxes). He will replace AK Jain

13.Tata Power Ltd ends pact with Ideal Energy Project Ltd for the acquisition of a 270-MW coal based thermal power plant in Maharashtra.

14.Alice Vaidyan has been appointed as the Chairman and MD of General Insurance Corporation of India (GIC Re), The National Re-insurerGIC Re is the 14th largest reinsurer globally and is presently the only reinsurance company in India.

15.Government netted a hefty 900kg of idle household and temple gold under the Monetisation scheme.
Under this scheme, Depositors will earn up to 2.50 per cent interest per annum.


16. Finance Ministry data-
•Deposits in accounts opened under PMJDY Scheme have crossed the Rs 30,000 Crore Mark.
•As of 20 January 26, 2016 ,20.38 crore bank accounts were opened under PMJDY with the total 30,623 crore Rs deposits.
•The accounts that can be opened under PMJDY are Basic Savings Bank Deposit Accounts (BSBDA) which can be of zero balance, as per RBI guidelines.

17. RBI issues guidelines to print Notes valued Rs 500 and Rs 100 with new security features.
New currency notes will be of the Mahatma Gandhi series 2005 Signed by Governor Raghuram rajan, The insent letter in both number panels of the note will be “E”.

18. Uttar Pradesh government gives nod to “CM Kisan Avam sarvhit Bima Yojna”
•Landless Farmers will also be included in this scheme
•Farmers below 75000 Annual income will also be covered.
•Scheme will come into effect from 1st April 2016
•This scheme will replace state’s Krishak Bima Yojna scheme.


19. Food security Act to be implemented in all the states together by April 2016. According to FSA , There are provisions to provide wheat at 2Rs/kg and Rice at 3 Rs/kg.


20. Government provides Infrastructure status to Shipping Industries in order to help them overcome from financial pressure.

21. India gets elected into Board of members of Beijing headquartered AIIB. There are a total of 12 Members in the Board of AIIB.
•AIIB was established by 57 Nations including India.
•Authorized Capital – 100 Billion USD
•India Owns a stake of 7.5% in AIIB and is 2nd largest stake holder after china (26.06%). 
HeadJin lee Qun

22. 10 New EDs appointed in Public sector Bank.
The appointment committee of the Cabinet (ACC) has approved the Proposal for appointment of 10 General Managers as Executive Directors.
All the EDs have been appointed for 3 Years.

(1) Bank of Baroda – Mayank Mehta
(2) Canara Bank – Dina Bandhu Mohapatra
(3) Union Bank of India – Vinod Kumar Kathuria
(4) Indian Bank – R Subhramanyam
(5) Indian Bank – AS Rajeev
(6) Oriental Bank of Commerce – Rajkiran Rai G
(7) Vijaya Bank – Nageshwao Rao Y
(8) Dena Bank – Ramesh S singh
(9) UCO Bank – G Subramania Iyer
(10) Corporation Bank – Sunil Mehta