Financial Affairs 7 October 2016 | Banking Awareness for SBI IBPS UPSC SSC Exams

Rate hike in US can disrupt capital flow in Asia: IMF

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  • A disorderly reaction  to possible US interest rate hikes could disrupt capital flows and heighten asset price volatility in Asia.
  • The prospect of subdued growth in advanced economies can also create negative spillovers.
  • This may affect Asian nations as weak exports weigh on the region’s growth and inflation.

India seeks more Swiss cooperation on black money

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  • The enhanced cooperation from Switzerland in tackling menace of black money by providing information on people stashing illegal funds in that country.
  • India looks forward for cooperation with Switzerland on the issue of exchange of tax information since black money is the main corruption issue which needs to be tackled.
  • India and Switzerland have made significant contributions to strengthen peace and prosperity based on their shared vision of a peaceful and progressive future.

Railways offers Rs10 lakh travel insurance for 1 paisa

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  • Suresh Prabhu-led Indian Railways has come up with a Diwali bonanza for passengers.
  • The IRCTC is offering travel insurance up to Rs 10 lakh for a premium of just 1 paisa.
  • The offer will be effective from tomorrow, October 7.

India’s mergers reach its highest value ever

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  • India’s mergers and acquisitions (M&A) activity in Q3 of 2016 has reached its highest quarterly value on record.
  • “Global and Regional M&A: Q1-Q3 2016” report says 98 deals worth $27.7 billion were finalised during Q3 ranking-in the highest quarterly value on record.
  • India’s M&A activity in terms of value has accelerated by 36 per cent to a new record high when compared to the whole of 2015.

Apple recovered gold worth $40mn from broken iPhones in 2015

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  • Apple recovered 2,204 pounds of gold from recycled iPhones, iPads and Macs last year.
  • It’s worth is $40 million.
  • Gold is used in consumer electronics because it is highly averse to corrosion and an excellent conductor of electricity.

Sushil Chandra appointed as new chief of CBDT

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  • Chandra, a 1980 batch officer of Indian Revenue Service (Income Tax cadre), is currently Member (Investigation) of the CBDT.
  • The Appointments Committee of the Cabinet approved the appointment of Chandra as Chairperson of the CBDT to replace Nair, who is superannuating on October 31.
  • The CBDT is headed by a chairman and can have a maximum of six members.

Nissan to launch 8 new products in India by 2021

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  • Nissan aims to increase its market share in India’s car market from the current 2% to 5% by 2021 through new product launches.
  • India is a very important market for Nissan globally.
  • This will help us position as one of the top brands in the country.
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