• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Competition Digest

Competition Digest

Books for IBPS, SBI, SSC, NDA/CDS And Other Competitive Exams

  • Upcoming Exams
  • SUBSCRIBE
  • Study Material
    • Arts & Culture
    • Banking Awareness
    • Computer
    • Current Affairs
    • Economics
    • Ecology
    • English
    • Antonyms
    • Synonyms
    • General Knowledge
    • Geography
    • History
    • India
    • Polity
    • Question Papers
    • Science
    • Sports
    • World

Economics Current Affairs – 17 January – 24 January, 2015

State Bank of India signed a loan agreement for 100 million euro with European Investment Bank.

The funds will be used for lending to private businesses in the country. As per the agreement, the loan will be utilized to support the development of private sector, in particular small and medium-sized enterprises, social and economic infrastructure as well as climate change mitigation and adaptation in the country.

The agreement was facilitated by SBI Capital Markets, a subsidiary of the country’s largest bank.

2979032807_d97716e9c4

India’s foreign exchange (forex) reserves jumped by USD 2.660 billion to all time high USD 322.135 billion

Strong FII (Foreign institutional investors) inflows to Indian capital market and reduction in import bill due to drop in Crude oil are the main reasons for record high forex reserves.

The previous life-time high for the reserves was USD 320.79 billion, way back in the week to September 2, 2011.

RBI simplified norms for revamping External Commercial Borrowings Policy

The Reserve Bank of India (RBI) has simplified the existing procedure for restructuring of external commercial borrowings (ECBs).

Under the simplified procedure, the RBI has delegated powers to the banks (authorised to deal in foreign exchange) to make changes/modifications in the draw-down and repayment schedules of the ECB raised both under the automatic and approval routes.

ECBs are commercial loans availed from non-resident lenders with minimum average maturity of 3 years.

RBI issued final guidelines for banks to act as Insurance brokers

With new guidelines rolled in, RBI allowed banks to act as insurance brokers, set up their own subsidiaries and also undertake referral services for multiple companies, in a bid to increase insurance penetration in the country.

Banks have also been allowed to set up subsidiaries and joint venture companies for undertaking insurance business with risk participation

The existing rules allowed a bank can act as a corporate agent and sell policy of only one life insurer and one non-life insurance company.

There are about 87 commercial lenders  and 52 insurance companies in the country. Out of these 52 insurance companies, 24 are in the life insurance business and 28 are in general insurance business. In addition, GIC is the sole national reinsurer.

Agriculture GDP growth accelerated to 3.3% in 11th plan

Agriculture GDP growth has accelerated in the 11th plan, to an average rate of 3.3 per cent, compared to 2.4 per cent in the 10th and 2.5 per cent in the 9th plan.

Government to allocate 36 coal blocks to PSUs

The government kick-started the process of allocating cancelled coal mines to state-owned firms. Initially it will allot 36 blocks out of which one mine will be given to the steel sector while the rest will be given to the power sector. For schedule II (producing mines) category 23 blocks will be put on offer while 23 Schedule III mines (ready to produce mines) will be auctioned.

Photo credit: ScriS - www.scris.it / Foter /CC BY-ND

Sharing is good karma FacebookTwitter

Filed Under: Economics Tagged: 36 coal blocks allocation, ECB, Forex, Insurance Sector, overseas borrowing, power sector, PSUs, RBI and other central banks, sbi, steel sector

Reader Interactions

Need help? Leave a comment... Cancel reply

Primary Sidebar

POPULAR POSTS

  • List of High Courts in India
  • Important Rivers Of India With Their Origins
  • Endangered Species of Plants and Animals of India
  • Concept of National Income : GDP, NDP, GNP, NNP
  • Difference Between Nationalised, Public And Private Sector Bank
  • List of Chief of Army Staff of India
  • Slogans Given By Famous Indian Personalities
  • Number of Districts in Indian States
  • Rules To Solve 'Spot The Error' English Questions - Part 1
  • Plateaus Of India

LATEST POSTS

  • Current Affairs- 01 April 2019
  • SBI Releases Recruitment Notification For 2000 PO
  • [UPDATED] Best Books For SBI PO Exam 2019
  • LIC AAO Recruitment 2019 for 590 Posts
  • Why “SSC Books Free Download PDF” Will Harm You

Footer

  • About Us
  • Contact Us
  • Privacy Policy
  • Copyright
  • Terms of Use
  • Ethical Disclaimers

Competition Digest - Copyright © 2019