Banking Awareness and Financial affairs updates for May 04th, 2017 – for IBPS, SBI, SSC Exams

May 5, 2017
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Daily financial/banking affairs updates is prepared by keeping the exam pattern and the previously asked questions in IBPS, SBI, RBI, SSC Exams. This will be useful to update your GK on daily basis.

1. Chinese-led AIIB loans $160 mn for Indian power project

Indian government’s 24×7 Power for All programme

 

The China-backed Asian Infrastructure Investment Bank (AIIB) will give a loan of $160 million for a power project in India where 300 million people have no access to electricity yet.
The project, co-financed with the World Bank, is part of the Indian government’s 24×7 Power for All programme and will strengthen the power transmission and distribution system in Andhra Pradesh.
The bank expects the Andhra Pradesh-24×7 Power for All project to be the first of many that AIIB invests in India

2. ADB pegs India’s growth at 7.4% for 2017-18

It will help create a more business-friendly environment.

 

According to the Asian Development Bank (ADB), the Indian economy will grow 7.4 per cent this fiscal and 7.6 per cent in the next as the bankruptcy and GST laws will help create a more business-friendly environment.

3. $ 770 bn black money entered India in 2005-2014: Report

Illicit Financial Flows to and from Developing Countries

 

US-based think tank Global Financial Integrity (GFI) reported that an estimated $ 770 billion in black money entered India during 2005-2014.
Titled Illicit Financial Flows to and from Developing Countries: 2005-2014, the report is the first global study to place equal emphasis on illicit outflows and inflows.

4. Centre sanctions Rs 200 crore for J&K primary teachers

Human Resource Development Minister Prakash Javadekar

 

Union Human Resource Development Minister Prakash Javadekar has announced that the Centre has sanctioned Rs 200 crore for paying pending salaries of primary teachers in Jammu and Kashmir.

5. Cabinet approves MoU on urea manufacturing plant in Malaysia

ex-post facto approval to signing of MoU with Malaysia on development of a urea and ammonia manufacturing plant

 

The Union Cabinet, chaired by Prime Minister Narendra Modi, has given its ex-post facto approval to signing of MoU with Malaysia on development of a urea and ammonia manufacturing plant in the southeast Asian country.

6. Reliance, SAP launch ‘SARAL GST’ solution for taxpayers

MoU with enterprise application software

 

Reliance Corporate IT Park (RCITPL) has signed a Memorandum of Understanding (MoU) with enterprise application software major SAP SE to launch ‘SARAL GST solution for taxpayers.
According to the subsidiary of Reliance Industries, the new offering will enable taxpayers to be GST compliant and smoothly access the government’s GST System, once GST is rolled out from July 1, 2017

7. Shabana Azmi starrer The Black Prince awarded at film fest in Houston

50th annual Worldfest-Houston International Film Festival.

 

Hollywood film The Black Prince, featuring singer-poet Satinder Sartaaj and veteran actress Shabana Azmi, has been awarded the Special Jury Remi Award at the 50th annual Worldfest-Houston International Film Festival.

 

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