Banking Awareness 31st January 2017 | Financial Affairs 31st January 2017.

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1.A P Singh appointed interim head of India Post Payments Bank

  • The Union Government has appointed A P Singh as the interim Managing Director and CEO of India Post Payments Bank (IPPB), floated by the postal department.
  • He is a 1986 batch Indian Postal Service officer.
  • He was the joint secretary of the Department of Investment and Public Asset Management and has served as the deputy director general in charge of financial inclusion and payment systems in the founding team of UIDAI.


2.Cabinet approves Udaan scheme till 2019-20

• Udaan provides exposure to the youth of Jammu and Kashmir to the best of corporate India

• 67 leading corporates have partnered with National Skill Development Corporation (NSDC) under Udaan with a commitment to training youth from the state covering Organised Retail, Banking, Financial Services, IT, ITES, Infrastructure, Hospitality etc.



3.Alibaba’s financial arm acquires MoneyGram

• “The acquisition of MoneyGram is a significant milestone in our mission to bring inclusive financial services to users around the world.”
• Eric Jing, chief executive officer of Ant Financial Services Group in a statement last night.



4. Sebi cautions investors against unauthorised fundraising

• Sebi has cautioned investors against unlisted firms issuing securities without complying with the market norms.
• It advised investors to ensure that the companies seeking to raise funds have filed offer documents or applications with stock exchanges for listing.


5. Metal prices to climb in 2017: World Bank


• “Metal prices are projected to increase by 11 percent in 2017 due to tightening markets for most metals.
• “The largest gains are expected in zinc (27 percent) and lead (18 percent) due to mine supply constraints brought on by permanent and discretionary closures.
• Double-digit gains are also expected for copper, nickel, and tin.”


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