Banking Awareness 01st December 2016| Financial Affairs 01st December 2016

‘Cash rage’ in the UK over animal fat-laced £5 note


Indians among vegans, religious groups outraged by central bank’s admission

  • A new £5 note issued by the Bank of England has generated concern and anger among religious groups, vegans and vegetarians after it emerged that it contained traces of animal fat.
  • The note entered circulation in September, but its controversial content only emerged after the Bank of England responded to a question on Twitter confirming that there was a “trace of tallow in the polymer pallets used in the base substrate of the polymer £5 notes.”


The rebellion began as a mutiny of sepoys of the East India Company.

Software exporters worried over growing protectionism worldwide


APAC to become lucrative for IT Indian

  • The Asia-Pacific region, which has always been a tertiary market for the Indian IT industry, is going to be a bigger revenue earner for the industry.
  • Former Nasscom Chairman BVR Mohan Reddy has said that as many as 50 per cent of Fortune-500 companies are likely to have headquarters out of Asia. This would enhance the scope of the APAC market for the Indian IT industry.


The work that the IT companies are doing is digital now.

NITI Aayog sets up CMs’ panel on road map for digital payment


Examine and promote the use of digital payment systems across the country.

  • The government’s premier think tank NITI Aayog has constituted a committee of chief ministers to examine and promote the use of digital payment systems across the country.
  • The move is in line with the government’s thinking to promote transparency, financial inclusion and a healthy financial ecosystem nationwide, and to give a boost to the adoption of digital payments systems by people at the grass root levels and small businesses.

Chandrababu Naidu

The convenor of the 13-member committee.

World Economic Forum


India ranked 102nd on enabling cross border trade

  • The World Economic Forum (WEF) said that the India has improved its ranking by four places to 102nd position among 136 economies in terms of enabling cross border trade, with Singapore leading the list.
  • Among the BRICS nations, India, China and South Africa have improved their ranking from the previous edition.


India’s position has jumped four slots

Microsoft, Oracle set to hand IIT students their first crore-plus salary offers


Students are expected to get crore-plus salary

  • As the final placements at the Indian Institutes of Technology (IITs) kick off on Thursday, students are set to land their first crore-plus salary offers from Microsoft and Oracle.
  • The two US technology companies are putting forward such international salary packages in at least four campuses — Mumbai, Kharagpur, Guwahati and Roorkee, according to people privy to the matter at leading IITs

Rs 1.2 crore

The salaries for international roles at the higher end are about.

Tamil Nadu braces for Cyclonic storm NADA that is expected to hit coast line tomorrow


Rain expected in most places including Puducherry.

  • The ‘Cyclone Nada’ formed in the South East Bay is moving north westwards towards northern Tamil Nadu coast.
  • The Meteorology Department has said, it is expected to have a landfall close to Cuddalore in between Vedaranyam and Puducherry tomorrow early morning.

Cyclone Nada

Cyclone hitting the coast of Tamilnadu

Supreme Court orders status quo on land acquired for Sutlej-Yamuna Link canal in Punjab.


The apex court appointed receivers.

  • Supreme Court has ordered to maintain status quo on land acquired for construction of the Sutlej-Yamuna Link canal’s stretch in Punjab.
  • The apex court appointed the Union Home Secretary, Punjab’s Chief Secretary and the Director General of Police as receivers.

5,000 acres

Acquired by Punjab Govt.

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