6. ECONOMY NEWS: (INDIA & WORLD)
1. World Bank to provide $84 million Loan to Bihar for Panchayat Strengthening Project 2. The State Bank of Travancore launched a new service for its customers - doorstep banking. Customers who opt for this service have to just ring up the bank and inform it that money has to be deposited and soon the bank's vehicle along with its staff will arrive at the doorstep to collect the amount. The minimum pick- up will be Rs. 5 lakh and the maximum would be Rs. 20 million. 3. At present India’s foreign exchange reserves is $ 293.84 billion. 4. India WPI-based inflation in May falls to 4.7%: 5. World Bank to provide $255 mn loan for AIDS control proj: An agreement for loan of USD 255 million (equivalent) from World Bank for the 'National AIDS Control Project (NACP-IV)' was signed in New Delhi between India and the World Bank 6. India retains world's 3rd most attractive FDI destination slot. India was ranked after China and United States 7. CAD touches record high of 4.8% in 2012-13 8. Canara Bank to open MSME (Micro, Small, and Medium Enterprises) branches in Tiruchi, Perambalur 9. Axis Bank launches co-branded credit card that offers a blend of insurance and a number of travel benefits for international frequent flyers. 10.
11. IIFCL Mutual Fund launched its maiden infrastructure debt fund (IDF) scheme with the support of investors viz. Canara Bank and HUDCO being the strategic investors and Corporation Bank, Oriental Bank of Commerce & IIFCL being the other investors. Chairman of IIFCL S.K. Goel NOTE: India Infradebt Limited (Infradebt), India’s first Infrastructure Debt Fund (IDF) under the Non-Banking Finance Company structure, achieved the distinction of being first IDF-NBFC to get the ‘CRISIL AAA’ credit rating. 12. China, Britain set up currency swap line: China has expanded its currency convertibility to Britain as the central banks of the two countries signed a three-year sterling-yuan currency swap line to boost bilateral trade and financial stability. 13. Yes Bank launches “Incredible India Travel card” in association with the Tourism Ministry.
14. According to OECD: India has probably surpassed Japan to become the world's third largest economy after the US and China
15. Retail inflation, measured by the Consumer Price Index (CPI), slipped markedly by one percentage point to 9.39 per cent in April this year from 10.39 per cent.
16. Indian economy is projected to grow by 6 per cent in the current fiscal: World Bank
17. Vijaya Bank is the first bank which announced that its Risk Management Department has received ISO 27001 certification from the British Standards Institute.
18. NMDC Ltd. and IndusInd Bank were included in the CNX Nifty index of the National Stock Exchange (NSE), replacing Wipro and Siemens
19. Current account deficit (CAD) widened to a record high of 6.7 per cent of the GDP (gross domestic product) in the October-December quarter this fiscal.
20. The World Trade Organization (WTO) cut its forecast for global trade growth in 2013 to 3.3 per cent from 4.5 per cent. 21. YES Bank has been awarded the Financial Institutions Syndicated Deal of the Year 2012 in its Asia Pacific Region. 22. “Tatkal” scheme is launched by SBI (State Bank of India) that enables the people to transfer money to their families in their native towns and villages without actually opening an account.
23. Consumer price index-based (CPI) retail inflation finally eased to 10.39 per cent in March from 10.91 per cent in February
24. World Bank Said: India is the largest recipient of remittances in the world, receiving $69 billion in 2012
25. Prime Minister’s Economic Advisory Council (PMEAC) pegged the GDP (gross domestic product) growth rate for the current fiscal year at a realistic 6.4 per cent 26. The Foreign Investment Promotion Board (FIPB), headed by DEA Secretary Arvind Mayaram, approved the proposal of Air Asia's India investment plans, which allows up to 49 per cent FDI. Rs 80 crore is initial investment. 27. The taxation authorities in India has made E-filing mandatory for all the taxpayers in the country who earn more than Rs. 5 lakh per annum to file their tax returns online.
28. Coal India Ltd will invest Rs 7,500crore to develop railway infrastructure in Chhattisgarh, Jharkhand and Odisha.
29. IRCTC introduced Interbank Mobile Payment System.
30. India and World Bank Signed 500 Million Dollar Deal for Shiksha Abhyan. 31. The Govt. has increased the capital base of India’s apex development bank NABARD to Rs 20,000 crore from existing Rs 5000 crore.
32. According to IBA (Indian Banking Association) guidelines duration of education loans would be increased 7 – 10 yrs. In special case it would extend to 15 yrs.
33. India ranked 5th On the List of High Net worth Individuals, according to the Knight Frank Wealth Report 2013. 34. Govt approved Rs 12,517cr (December 2012) capital infusion in PSU banks to meet BASEL III norms. 35. Maharatna status for BHEL and GAIL. 36. Govt. declared use of MGNREGA linked Post Office Accounts for Direct Cash Transfer. 37. P. Chidambaram launched Rajiv Gandhi Equity Savings Scheme (RGESS) in Mumbai 38. ADB gave 100 Million US Dollar Loan to Uttarakhand for the urban infrastructure programme. 39. The government signed a $60 million loan agreement with the World Bank to improve watershed operations in seven districts of Karnataka. 40. MCX-SX became the third full-fledged equity bourse after BSE and NSE in the country. 41. SEBI has introduced electronic IPOs from January 1, 2013.
42. Indian banks would need Rs 3,90,000-5,00,000 crore capital over the next six years in the wake of Basel III capital regulations announced by the RBI.
43. After SBI and NABARD ownership of National Housing Bank (Now RBI hold 100% share) will be transferred from RBI to Government.
44. India will help Sri Lanka to establish special economic zone in automobile and pharma.
45. India signed an agreement with Belgium for the modernization of the Indian Railways. 46. India and Russia signed pacts on Economic Ties for $2 billion Investment Fund.
47. The ADB has offered $150 million loan for the expansion of railway tracks and to improve overall service in the country. 48. National Savings Certificate matures at the end of 5 years.
49. ADB announced to provide $74.8 million loan to improve road connectivity in the North East states.
50. India and Pakistan have agreed to allow two banks each from both, the countries to set up branches across the border. The two Indian banks are SBI and Bank of India and two Pakistani banks are National Bank of Pakistan and United Bank Ltd.
1. World Bank to provide $84 million Loan to Bihar for Panchayat Strengthening Project 2. The State Bank of Travancore launched a new service for its customers - doorstep banking. Customers who opt for this service have to just ring up the bank and inform it that money has to be deposited and soon the bank's vehicle along with its staff will arrive at the doorstep to collect the amount. The minimum pick- up will be Rs. 5 lakh and the maximum would be Rs. 20 million. 3. At present India’s foreign exchange reserves is $ 293.84 billion. 4. India WPI-based inflation in May falls to 4.7%: 5. World Bank to provide $255 mn loan for AIDS control proj: An agreement for loan of USD 255 million (equivalent) from World Bank for the 'National AIDS Control Project (NACP-IV)' was signed in New Delhi between India and the World Bank 6. India retains world's 3rd most attractive FDI destination slot. India was ranked after China and United States 7. CAD touches record high of 4.8% in 2012-13 8. Canara Bank to open MSME (Micro, Small, and Medium Enterprises) branches in Tiruchi, Perambalur 9. Axis Bank launches co-branded credit card that offers a blend of insurance and a number of travel benefits for international frequent flyers. 10.
11. IIFCL Mutual Fund launched its maiden infrastructure debt fund (IDF) scheme with the support of investors viz. Canara Bank and HUDCO being the strategic investors and Corporation Bank, Oriental Bank of Commerce & IIFCL being the other investors. Chairman of IIFCL S.K. Goel NOTE: India Infradebt Limited (Infradebt), India’s first Infrastructure Debt Fund (IDF) under the Non-Banking Finance Company structure, achieved the distinction of being first IDF-NBFC to get the ‘CRISIL AAA’ credit rating. 12. China, Britain set up currency swap line: China has expanded its currency convertibility to Britain as the central banks of the two countries signed a three-year sterling-yuan currency swap line to boost bilateral trade and financial stability. 13. Yes Bank launches “Incredible India Travel card” in association with the Tourism Ministry.
14. According to OECD: India has probably surpassed Japan to become the world's third largest economy after the US and China
15. Retail inflation, measured by the Consumer Price Index (CPI), slipped markedly by one percentage point to 9.39 per cent in April this year from 10.39 per cent.
16. Indian economy is projected to grow by 6 per cent in the current fiscal: World Bank
17. Vijaya Bank is the first bank which announced that its Risk Management Department has received ISO 27001 certification from the British Standards Institute.
18. NMDC Ltd. and IndusInd Bank were included in the CNX Nifty index of the National Stock Exchange (NSE), replacing Wipro and Siemens
19. Current account deficit (CAD) widened to a record high of 6.7 per cent of the GDP (gross domestic product) in the October-December quarter this fiscal.
20. The World Trade Organization (WTO) cut its forecast for global trade growth in 2013 to 3.3 per cent from 4.5 per cent. 21. YES Bank has been awarded the Financial Institutions Syndicated Deal of the Year 2012 in its Asia Pacific Region. 22. “Tatkal” scheme is launched by SBI (State Bank of India) that enables the people to transfer money to their families in their native towns and villages without actually opening an account.
23. Consumer price index-based (CPI) retail inflation finally eased to 10.39 per cent in March from 10.91 per cent in February
24. World Bank Said: India is the largest recipient of remittances in the world, receiving $69 billion in 2012
25. Prime Minister’s Economic Advisory Council (PMEAC) pegged the GDP (gross domestic product) growth rate for the current fiscal year at a realistic 6.4 per cent 26. The Foreign Investment Promotion Board (FIPB), headed by DEA Secretary Arvind Mayaram, approved the proposal of Air Asia's India investment plans, which allows up to 49 per cent FDI. Rs 80 crore is initial investment. 27. The taxation authorities in India has made E-filing mandatory for all the taxpayers in the country who earn more than Rs. 5 lakh per annum to file their tax returns online.
28. Coal India Ltd will invest Rs 7,500crore to develop railway infrastructure in Chhattisgarh, Jharkhand and Odisha.
29. IRCTC introduced Interbank Mobile Payment System.
30. India and World Bank Signed 500 Million Dollar Deal for Shiksha Abhyan. 31. The Govt. has increased the capital base of India’s apex development bank NABARD to Rs 20,000 crore from existing Rs 5000 crore.
32. According to IBA (Indian Banking Association) guidelines duration of education loans would be increased 7 – 10 yrs. In special case it would extend to 15 yrs.
33. India ranked 5th On the List of High Net worth Individuals, according to the Knight Frank Wealth Report 2013. 34. Govt approved Rs 12,517cr (December 2012) capital infusion in PSU banks to meet BASEL III norms. 35. Maharatna status for BHEL and GAIL. 36. Govt. declared use of MGNREGA linked Post Office Accounts for Direct Cash Transfer. 37. P. Chidambaram launched Rajiv Gandhi Equity Savings Scheme (RGESS) in Mumbai 38. ADB gave 100 Million US Dollar Loan to Uttarakhand for the urban infrastructure programme. 39. The government signed a $60 million loan agreement with the World Bank to improve watershed operations in seven districts of Karnataka. 40. MCX-SX became the third full-fledged equity bourse after BSE and NSE in the country. 41. SEBI has introduced electronic IPOs from January 1, 2013.
42. Indian banks would need Rs 3,90,000-5,00,000 crore capital over the next six years in the wake of Basel III capital regulations announced by the RBI.
43. After SBI and NABARD ownership of National Housing Bank (Now RBI hold 100% share) will be transferred from RBI to Government.
44. India will help Sri Lanka to establish special economic zone in automobile and pharma.
45. India signed an agreement with Belgium for the modernization of the Indian Railways. 46. India and Russia signed pacts on Economic Ties for $2 billion Investment Fund.
47. The ADB has offered $150 million loan for the expansion of railway tracks and to improve overall service in the country. 48. National Savings Certificate matures at the end of 5 years.
49. ADB announced to provide $74.8 million loan to improve road connectivity in the North East states.
50. India and Pakistan have agreed to allow two banks each from both, the countries to set up branches across the border. The two Indian banks are SBI and Bank of India and two Pakistani banks are National Bank of Pakistan and United Bank Ltd.
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