Current Affairs : Banking Awareness for IBPS PO Exam 2013

Institute of Banking Personnal Selection (IBPS) is going to conduct exam for recruitment of Probationary Officers in various banking & financial institutions later this month. Observing latest pattern and a few years question papers, IBPS emphasize on banking awareness part in general awareness section of question paper. To help you with this, we are with latest banking awareness topics and current affairs related with banking industry.

• IDBI's 'Own Your NPA Campaign': IDBI Bank has launched a special ‘Own Your NPA’ (non-performing asset) campaign so that officials give it all they’ve got for faster resolution of bad debts. As part of the campaign, each zonal, regional and branch manager will personally go and meet the customers.
• Global rating agency Fitch has scaled down its projections on India’s growth to 4.8% for the current fiscal from the earlier estimate of 5.7% made in June, 2013.
• The Reserve Bank of India (RBI) on 7 October 2013 reduced the Marginal Standing Facility (MSF) rate to 9 per cent from 9.5 per cent.
• Reserve Bank of India on 25 September 2013 banned 0% interest rate schemes for purchase of consumer goods.
• Reserve Bank of India hiked the short-term lending (repo) rate to 7.5%, seeking to control inflation. The Cash Reserve Ratio (CRR) was left unchanged at 4%.
• Reserve Bank of India (RBI) on 19 September announced that banks can open their branches in tier 1 centers without taking its permission in each case.
• The First direct bank (a bank without any branch network that offers its services remotely via online banking and telephone banking and may also provide access via ATMs) has been launched in China by the Bank of Beijing in co-operation with the Netherlands-based ING Group.
• RBI allowed Non-Resident Investors to purchase shares from listed stock exchanges of Indian entities Under FDI Scheme.
• The Pension Fund Regulatory and Development Authority Bill (PFRDA), 2011 which aims to regulate the New Pension System (NPS) has been passed in the Lok Sabha.
• Insurance compnay Life Insurance Corporation (LIC) has increased its equity stake by 2.86% in the country’s largest public sector bank State Bank of India (SBI) from 10.4 % to 13.26% by buying 19.57 lakh shares from open market.
• S R Bansal in new Chairman and Managing director of Corporation Bank.

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