Online Current Affairs based on Economics


Yes Bank launched “Yes Fintech”, a business accelerator program


  • Yes Bank, in collaboration with T-Hub, has launched 'Yes Fintech', a business accelerator program.
  • T-hub is a startup incubator set up by the Telengana government and Anthil – a speed scaling platform for early growth stage start-ups.
  • Yes Bank has been collaborating with more than 100 fintech start-ups and supporting them to provide creative solutions to ;
    1.the corporate,
    2.SME and
    3.retail customer base
    as a part of its Alliances, Relationship & Technology (ART) approach to digitised banking .
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which bank in collaboration with T-Hub, has launched 'Yes Fintech', a business accelerator program?
 - Yes Bank. 
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...

Yes Bank launches customisable savings account


  • Private sector lender Yes Bank claimed to have launched the industrys first customisable savings account which will protect customers from "unwanted charges" levied in current offerings.
  • Customers can choose from options like debit cards, alternatives to minimum balance requirements, and banking benefits such as;
    1. ATM usage,
    2. digital banking products,
    3. branch banking and
    4. family grouping .
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which bank claimed to have launched the industrys first customisable savings account which will protect customers from "unwanted charges" levied in current offerings?
 - Yes Bank. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Manipur’s Karang is India’s first cashless island


  • Karang, a small lake island in Manipur, has become the country’s first cashless island.
  • The Union ministry of electronics and information technology under its Digital India programme announced Karang as the first cashless island in India on Friday.
  • Confirming it, deputy commissioner M Harekrishna of Bishnupur district said the island fulfilled the Centre’s necessary criteria.
  • The Karang island is located in the middle of Loktak, the largest freshwater lake in Northeast India.
  • The campaign was held from January 9 to 12. Karang Island Boat Association and Panthoibi Khoyol Standard Association extended help in holding campaigns on cashless transactions.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which place has become the India’s first cashless island?
 - Manipur’s Karang. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

South Korea ranked world’s most innovative economy


  • South Korea is the world’s most innovative economy, followed by
    1. Germany,
    2.Sweden,
    3.Japan and
    4.Switzerland, according to the latest Bloomberg Innovation Index.
  • South Korea won the top scores worldwide for manufacturing value-added as well as for tertiary efficiency, and was in the second place in ;
    1.R&D intensity,
    2.high-tech density and
    3.patent activity.
  • The Asian tech powerhouse was ranked sixth in terms of researcher concentration.
  • Rounding out the top 10 under the Innovation Index were;
    1. Singapore,
    2. Finland,
    3. the United States,
    4. Denmark and
    5. France.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which country won the top spot by getting the tag of "World’s most innovative economy" 
according to the latest Bloomberg Innovation Index?
 - South Korea. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

India among top 6 promising markets


  • India features among top six for global executives when it comes to overall growth prospects over the next 12 months, but enthusiasm for investing in the country has dropped from three years ago, finds out a survey.
  • According to the annual global CEO survey of consultancy giant PwC, released at the WEF annual meeting, the top two markets from the growth point of view are ;
    the US, as voted by 43 per cent of respondents,
    followed by China (33 per cent).
  • Others in the pecking order are ;
    Germany (17 per cent),
    UK (15 per cent),
    Japan (8 per cent) and
    India (7 per cent).
  • Last year, India was among the top five most promising markets globally.
Quick Question for Bank PO/ IBPS Exams 2016-17:
According to the annual global CEO survey of consultancy giant PWC, what is the rank of India in the most promising markets globally? 
 - 6th.
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Central & SBI Card launch premium co-branded card


  • Future Group's fashion and lifestyle departmental store Central and SBI Card announced the launch of a co-branded credit card.
  • It's launched to offer benefits to consumers in the premium lifestyle and fashion space.
  • The Central SBI co-brand Card is the second by SBI Card and Future Group, after fbb SBI StyleUp Card introduced earlier in partnership with Big Bazaar and targeted at the value conscious consumer looking for affordable fashion.
  • The Central
    1.SBI SELECT and
    2.SELECT+ Cards
    offer an accelerated reward points structure, where cardholders earn 20 reward points for every Rs 100 spent in Central stores.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Future Group's fashion and lifestyle departmental store Central with which bank has announced the launch of a co-branded credit card?
 - SBI
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 2.00 out of 5)
Loading...

IMF cuts India’s GDP growth forecast to 6.6% on note ban woes


  • The International Monetary Fund (IMP) on 16th of January 2017 cuts India’s growth forecast for the current fiscal to 6.6% from its previous estimate of 7.6%.
  • The cut is a consequence of the currency crunch following the demonetisation decision, said the IMF.
  • The cut in India’s growth rates comes days after the World Bank decelerated India’s GDP growth for 2016-17 to 7% from 7.6%.
Quick Question for Bank PO/ IBPS Exams 2016-17:
The International Monetary Fund (IMP) on 16th of January 2017 cuts India’s growth forecast for the current fiscal to what percentage? 
 - 6.6%.
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Reserve Bank of India raises daily withdrawal limit from ATMs to Rs 10,000


  • The Reserve Bank of India on Monday doubled the daily withdrawal limit from automated teller machines (ATMs) to Rs 10,000.
  • They also retained the weekly ceiling at Rs 24,000 with the supply of more five hundred notes.
  • RBI has increased the limit on withdrawal from current accounts from the existing limit of Rs 50,000 per week to Rs 1,00,000 per week.
  • This hike will be applicable to overdraft and cash credit accounts.
Quick Question for Bank PO/ IBPS Exams 2016-17:
What is the current daily withdrawal limit from automated teller machines (ATMs), according to RBI? 
- Rs 10,000. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

NPCI declares Rs 54.90 crore prize money for NITI Aayog's lucky draw schemes


  • National Payments Corporation of India (NPCI) declared Rs 54.90 crore prize money to over 3.42 lakh winners for NITI Aayog's lucky draw schemes for consumers and merchants.
  • The two schemes are -
    1. Lucky Grahak Yojna (LGY) and
    2. Digi-Dhan Vyapar Yojna (DVY).
  • They were launched on December 25 last year and shall remain open till April 14, 2017.
  • Schemes are aimed at incentivising both consumers and merchants to promote digital payments.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which schemes has been launched by NITI Aayog which are aimed at incentivising both consumers and merchants to promote digital payments?
- 1. Lucky Grahak Yojna (LGY) and
2. Digi-Dhan Vyapar Yojna (DVY). 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

BSNL launches “Sanchar Aadhar” for Aadhar based eKYC and digital customer engagement


  • BSNL the national carrier, having the largest network across India with highest rural penetration recognizes the need to deliver consistent and personalized digital engagement to their customers.
  • BSNL has launched its prestigious Customer Acquisition and Customer Communication Management (CACMS) project that digitalizes mission critical, customer centric business process to provide compelling customer experience across all channels throughout the customer lifecycle.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Customer Acquisition and Customer Communication Management (CACMS) project was launched by which Indian firm? 
 - BSNL. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

App named 'SEZ India' launched by Commerce Ministry


  • A Mobile app named SEZ India has been launched by the Commerce Secretary on 06th January 2017.
  • SEZ Division, Department of Commerce under its broader e-Governance initiative i.e. SEZ Online System, has developed mobile app for Special Economic Zones (SEZs).
  • App would help the SEZ Units and Developers to find information easily and track their transactions on SEZ Online System.
  • Now the SEZ Developers & Units can file all their transactions digitally through SEZ Online system and track the status on the go through the SEZ India mobile app.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which mobile application has been launched  by the Commerce Secretary on 06th January 2017?
 -  SEZ. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Airtel Payments Bank to Get Rs. 3,000 Crores Investment from Bharti Airtel


  • Bharti Airtel Ltd, India's top wireless carrier, has committed an initial investment of Rs. 3,000 crores ($441 million) to build its new pan-India Airtel Payments Bank.
  • Airtel Payments Bank is the first among several such niche banks to start operations, after the central bank handed over new permits to bring financial services within the reach of millions who still lack access to formal banking.
  • Private-sector lender Kotak Mahindra Bank owns a minority stake in Airtel Payments Bank.
  • Payments banks can take deposits and remittances but are not allowed to lend.
  • This new set of banks is expected to increase competition in the sector by offering higher interest rates on deposits.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Bharti Airtel Ltd, India's top wireless carrier, has committed an initial investment of Rs. 3,000 crores ($441 million) to build which bank? 
 - India Airtel Payments Bank. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

NTPC to take over Rajasthan’s Chhabra power plant


  • The Rajasthan government on Wednesday night said that it has agreed to transfer its 1,000 megawatt (MW) Chhabra thermal power plant to NTPC Ltd, a central government power utility, in an asset-for-equity deal.
    1.AES India,
    2.Adani Power,
    3.Tata Power-ICICI
    were in race for acquiring the Rajasthan power project .
  • The deal was given effect through a tripartite agreement among;
    1. NTPC,
    2.Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUN), the state government’s power generation utility, and
    3.power trading firm Rajasthan Urja Vikas Nigam Ltd (RUVNL)
    in the presence of chief minister Vasundhara Raje in Jaipur.
Quick Question for Bank PO/ IBPS Exams 2016-17:
The Rajasthan government has agreed to transfer its 1,000 megawatt (MW) Chhabra thermal power plant to which firm? 
 - NTPC. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

HDFC ERGO Launches Trade Credit Insurance Policy Securing Trade Receivables


  • HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector, announced the launch of its new policy for corporate, the Trade Credit Insurance Policy.
  • The new policy, also known as Credit Insurance Policy, safeguards suppliers against the risks of non-payment for the goods or services delivered to the buyers.
  • Under this, the insurer covers a portfolio of buyers and pays an agreed percentage of the invoice or receivables that remain unpaid as a result of;
    1. insolvency,
    2. bankruptcy or
    3. protracted default.
Quick Question for Bank PO/ IBPS Exams 2016-17:
HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector, announced the launch of which of its new policy for corporate? 
- Trade Credit Insurance Policy.
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 1.00 out of 5)
Loading...

Flipkart's Binny Bansal invests in 3D printing startup


  • Flipkart's Co-founder and Group CEO Binny Bansal along with four other angel investors has invested Rs. 6.6 crore in Supercraft3D.
  • It's a 3D printing startup focused on health and medicine applications.
  • Founded in 2016, the startup provides visualisation solutions to help;
    1. hospitals,
    2.doctors and
    3.academicians
    get a better understanding of anatomy.
  • It also manufactures customised body implants for patients.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Flipkart's Co-founder and Group CEO Binny Bansal along with four other angel investors has invested Rs. 6.6 crore in which startup? 
 - Supercraft3D. 
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 1.00 out of 5)
Loading...

Citibank launches voice verification for phone banking


  • Citibank has launched voice verification for its phone banking clients to replace the current authentication process of remembering PINs or answering verification questions.
  • The bank said identifying a user's unique voiceprint will take 15 seconds, down from an average 45 seconds it takes currently.
  • The authentication will be completed automatically while the customers speak to the bank official.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which bank has launched voice verification for its phone banking clients to replace the current authentication process of remembering PINs or answering verification questions? 
-  Citibank. 
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 1.00 out of 5)
Loading...

Axis Bank becomes third lender to offer block chain service


  • Private sector Axis Bank on Monday became the third lender in the country to announce usage of block chain solutions for its operations, after its peers
    1. ICICI Bank and
    2.Yes Bank.
  • Block chain solutions is a distributed database that maintains a continuously growing list of ordered records called blocks.
  • It is said to reduce turnaround times, is transparent and also ensures zero errors.
  • Axis Bank has tied up with fintech firm Ripple to offer the solution.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Who became the third lender bank in the country to announce usage of block chain solutions for its operations? 
- Axis Bank. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

IBM becomes first company to get 8,000 US patents in a year


  • American technology company IBM has become the first company to receive more than 8,000 US patents in one year in 2016.
  • With 8,088 patents IBM received an average of 22 patents per day last year.
  • IBM was followed by ;
    1.Samsung and
    2.Canon
    with 5,518 and 3,665 patents respectively.
  • Technology major Google received the fifth most number of patents at 2,835.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which company has become the first company to receive more than 8,000 US patents in one year in 2016?
- IBM. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Humanoid robot Ira to be deployed at HDFC Bank branch


  • Private lender HDFC Bank launched what it claimed to be the first ‘humanoid’ in the domestic banking space.
  • It's also said it is looking to partner with start-ups having technological solutions for rural operations.
  • The bank showcased human-sized robot Ira, developed in association with Kochi-based Asimov Robotics,
  • The robot will perform a limited role and act largely as a receptionist, though the humanoid can also move around in the branch.
  • Chugh claimed this is the first ‘humanoid’ in the domestic banking space.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which bank launched what it claimed to be the first ‘humanoid’ in the domestic banking space?
- HDFC Bank. 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Anti-avoidance tax rule GAAR to kick in from April 2017


# Tax anti-avoidance rule GAAR will kick in from April 1, 2017.
# In May last year, CBDT had started consultation with stakeholders asking them to give their views where they require clarity before GAAR is implemented.
# General Anti-Avoidance Rule (GAAR) was part of the 2012-13 Budget speech of the then Finance Minister Pranab Mukherjee to check tax evasion and avoidance.
# However, its implementation was repeatedly postponed because of the apprehensions expressed by foreign investors.
# It contains provision allowing the government to prospectively tax overseas deals involving local assets.
# There have been fears that the government may use it to target P-Notes.
# Through the use of GAAR, government may try to tax P-Notes as indirect investments, which could attract a tax rate of up to 15 per cent, experts say.
# To avoid tax altogether under GAAR, an investor may have to prove that P-Notes were not set up specifically to avoid paying taxes.
Quick Question for Bank PO/ IBPS Exams 2016-17:
What is the full form of GAAR? 
-General Anti-Avoidance Rule (GAAR). 
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...