IBPS RRBS CWE latest current affairs
What is white label ATM
1) India’s first ever white label ATM was started at Chandrapada, a rural village in Thane district near Mumbai on 27 June 2013. This ATM was started by Tata Communications Payment Solutions Ltd. (TCPSL), a subsidiary of Tata Communications. What is the brand name of this range of white ATMs?
Indicash (Last year, the Reserve Bank of India, had allowed corporates to set up white label ATMs to increase the penetration of ATMs in several areas of the country.
These ATMs are to be operated by non-banking corporates and organisations and will provide ATM services to customers of all banks)
2) The Reserve Bank of India (RBI) during June 2013 extended the time to set up new banks in India, under which the promoter group has to set up a non-operative financial holding company (NOFHC) and the bank. However, the deadline for submission of application has been unchanged and remains 1 July 2013. By how much time the above said extension has been provided?
Six months (Now promoters will get 18 months of time to set up NOFHC from the date of in-principle approval for bank from the RBI.
Earlier 12 months were given by the RBI. With this extension the promoters will now get more time to operationalise the banking business)
3) How many mini LIC offices were inaugurated by Finance Minister P. Chidambaram on 25 June 2013? – 300 (These offices would provide facilities for premium collection and other policy related services. These 300 mini offices were inaugurated through video-mode)
4) India’s first SEBI-registered venture capital fund for Dalits was launched by Union Finance Minister P. Chidambaram on 6 June 2013. What is the name of this fund?
DICCI SME Fund (This venture fund has been initiated by the Dalit Indian Chamber of Commerce & Industry (DICCI).
It aims to raise Rs. 500 crore over 10 years and finance dalit entrepreneurs to set up businesses.
The fund was launched with an initial contribution of Rs. 10 crore by the Small Industries Development Bank of India (SIDBI))
5) What was total inflow of foreign direct investments (FDI) during 2012-13 as announced in the pertaining data released by the Department of Industrial Policy and Promotion (DIPP)?
$22.42 billion (FDI inflow declined by 38% as compared to 2011-12, during which these inflows stood at $35.12 billion)
6) The government on 20 June 2013 approved Planning Commission’s proposal to merge the 147 Centrally Sponsored Schemes (CSS) and bring it down to 70 across various sectors for effective implementation and monitoring of the 12th Five Year Plan. During last month, a Group of Ministers (GoM) headed by Sharad Pawar had approved merging of 147 CSS into 70 schemes. The merger proposal is in line with recommendations of which committee?
Chaturvedi Committee (For better utilisation of funds under CSS, the panel of ministers had approved transferring of funds from the central government to the state consolidated funds and not directly to the implementing agencies. The Chaturvedi Committee had suggested bringing down CSS to 59 from 147 to avoid overlap)
7) The 39th Summit of G-8 (Group of Eight Developed Nations) was held on 17 and 18 June 2013 at – Northern Ireland (G8 includes 8 countries – Canada, France, Germany, Italy, Japan, Russia, the US, the UK and European Council. In a major development on the sidelines of this summit, the United States and Russia agreed to end violence in Syria despite having different stances to solve this problem)
8) Who on 14 June 2013 was appointed as the new Chairman of Life Insurance of India (LIC)? –
SK Roy (Roy was appointed LIC’s Managing Director (MD) last month and he was also in the race for the post of chairman. He has now succeeded DK Mehrotra, whose term ended on 31 May 2013)
9) A high-powered committee on “Rationalisation of Investment Routes and Monitoring of Foreign Portfolio Investments”, recently suggested doing away with registration of foreign institutional investors (FIIs) with market regulator SEBI and reducing the know-your-customer (KYC) process for well regulated entities. Who is the chairman of this high-powered committee?
KM Chandrasekhar, former Cabinet Secretary (This committee was set up in December 2012.
The committee in its set of recommendations also called for merging FIIs and Qualified Foreign Investors (QFIs) into one class
Foreign Portfolio Investor (FPI) and has proposed to keep the aggregate investment limit for FPIs at 24% and 10% for NRIs)
10) A Bangladeshi commission has proposed the Government takeover or split of the famous Grameen Bank into how many parts, which attracted criticism from several quarters?
19 Parts (Grameen Bank founded by Nobel Laureate Muhammad Yunus is to be broken up into 19 separate organisations to decentralise the bank’s operations and management as proposed by a Bangladeshi commission, which was formed to suggest steps to restructure the bank. The commission also suggested that Grameen’s legal status be amended with the government owning at least 51 per cent. Grameen Bank has been in dispute with the Bangladesh Govt. Founded as a statutory body under a law offering ownership to its client members, Grameen lent more than USD 11 billion to millions of people – mainly women – to help them gain financial independence from poverty cycles)