Financial Affairs 7 October 2016 | Banking Awareness for SBI IBPS UPSC SSC Exams
Rate hike in US can disrupt capital flow in Asia: IMF
- 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
- 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
- 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
- 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
- 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
- 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
- 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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