Important Current Affairs Questions of the Day: 14th June

Directions: Study the following questions carefully and answer the questions given below.
 
1
Name the bank which was recently hit by cyber-attack, hackers steal USD 10 million.
» Explain it
D
Hints to Remember

Who: Central Bank of Chile
What: hit by cyber-attack, hackers steal USD 10 million
When: published on 13th June 2018

Shares in the Bank of Chile were down after it confirmed hackers had siphoned off $10 million of its funds, mainly to Hong Kong, though the country’s second-largest commercial bank said no client accounts had been impacted.

The cyber heist is the latest in a string of such attacks, including one in May in Mexico in which thieves used phantom orders and fake accounts to steal hundreds of millions of Mexican pesos out of the country’s banks, including Banorte.

For the complete information kindly visit given link:

https://www.deccanchronicle.com/technology/in-other-news/130618/bank-of-chile-hit-by-cyber-attack-hackers-steal-usd-10-million.html
2
Which of the following banks has received the National Payments Excellence Award 2017 by NPCI?
» Explain it
D
Hints to Remember

Who: SVC Bank
What: received the National Payments Excellence Award 2017 by NPCI
When: published on 11th June 2018

For the complete information kindly read the given lines:

SVC Bank received the National Payments Excellence Award 2017 awarded by National Payments Corporation of India (NPCI).

The award is the highest recognition in the industry for exceptional performance in payments system.

SVC Co-operative Bank received the award for its outstanding performance in NFS ATM Network and CTS.
3
Which of the following banks has recently tied up with Aditya Birla Health to provide insurance services to customers?
» Explain it
B
Hints to Remember

Who: Karur Vysya Bank
What: tied up with Aditya Birla Health to provide insurance services to customers
When: published on 5th June 2018

Private sector Karur Vysya Bank has recently entered into a bancassurance partnership with Aditya Birla Health to provide insurance services to customers.

The lender said it has already partnered with Birla Sunlife Insurance Co Ltd for providing life insurance products to its customers.

For the complete information kindly visit given link:

https://timesofindia.indiatimes.com/business/india-business/karur-vysya-bank-ties-up-with-aditya-birla-health-as-bancassurance-channel/articleshow/64467942.cms
4
Former RBI deputy governor H R Khan was recently appointed as the chairman of which bank?
» Explain it
B
Hints to Remember

Who: Former RBI deputy governor H R Khan
What: was appointed as the chairman of Bandhan Bank
When: published on 5th June 2018

Bandhan Bank has appointed H R Khan, a former RBI deputy governor, as non-executive chairman.

The board of directors of the bank at its meeting held today appointed Harun Rasid Khan as the non-executive, part time chairman of the bank, Bandhan Bank said in a filing to BSE.

Khan's appointment will be for a period of three years with effect from June 5, 2018 or till the expiry of his term as an independent director whichever is earlier, the bank said in a regulatory filing.

Khan will be the independent director of the bank at a remuneration of Rs 24 lakh per annum subject to RBI and other approvals.

For the complete information kindly visit given link:

https://economictimes.indiatimes.com/industry/banking/finance/banking/bandhan-bank-appoints-former-rbi-deputy-governor-h-r-khan-as-chairman/articleshow/64468347.cms
5
Which of the following banks has stated that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability?
» Explain it
B
Hints to Remember

Who: Reserve Bank of India
What: stated that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability
When: published on 6th June 2018

RBI in a bid to check loan defaults, RBI said today that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability.

Following a report by Yeshwant M Deosthalee headed High Level Task Force, RBI said it has considered the recommendations and decided to set up a PCR in a modular and phased manner.

An Implementation Task Force (ITF) is being constituted to help design and undertake logistics for the next steps in setting up of the PCR, it said after the second bi-monthly monetary policy review of 2018-19.

For the complete information kindly visit given link:

https://timesofindia.indiatimes.com/business/india-business/rbi-to-set-up-public-credit-registry-on-all-borrowers/articleshow/64482736.cms
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Important Current Affairs Questions and Answers: 14th  June, 2018
 
1. Reserve Bank of India (RBI) has launched the 2018 Financial Literacy Week with the theme of Customer Protection.
(Current Affairs Questions on Economics 14th June 2018)

Regional office of Reserve Bank of India has inaugurated Financial Literacy Week-2018 under the theme “Customer Protection”.

Regional Director RBI, Thomas Mathew, General Manager RBI Ashok Kumar Mattu, Chairman & CEO J&K Bank Parvez Ahmad, DGM NABARD Geeta Singh besides other senior officers of RBI and other banks were present on the occasion.

During the inaugural programme, Regional Director said “to fulfill the objective of financial literacy for financial inclusion, this year, we have selected the themes of KYC (know your customer), exercising credit discipline, grievance redressal and going digital as part of the financial literacy week”.

2. IDFC Bank received RBI's approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company.
(Latest Current Affairs 14th June 2018)

IDFC Bank has received the RBI’s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company. “The Reserve Bank of India has, via its letter dated June 4, 2018, conveyed its ‘No Objection’ for the voluntary amalgamation of Capital First Ltd, Capital First Home Finance Ltd and Capital First Securities Ltd with IDFC Bank,” IDFC Bank said in a regulatory filing.

Earlier in January, the company said its board of directors had approved amalgamation of the three entities with IDFC Bank Ltd. The amalgamation is subject to the receipt of approval from the respective shareholders and creditors of the companies, the National Company Law Tribunal, and other statutory and regulatory approvals, it added.

3. Bank of Baroda has increased its Marginal Cost-Based Lending Rate (MCLR) by 5 basis points.
(Top Economics Current Affairs Questions 14th June 2018)

Bank of Baroda said it will up its marginal cost of funds-based lending rates (MCLR) across tenors by five basis points with effect from June 7.

The public sector bank’s one-year MCLR will be 5 basis points higher at 8.45 per cent against 8.40 per cent now. One basis point equals one-hundredth of a percentage point.

For all other tenors – overnight, one month, three months and six months – the new rates will be 7.95 per cent, 8 per cent, 8.10 per cent and 8.30 per cent, respectively.

4. Bharat Financial Inclusion Ltd. has received a no-objection nod for its merger with Induslnd Bank.
(Most Important Current Affairs Questions 14th June 2018)

Micro-lender Bharat Financial Inclusion Ltd (BFIL) said it has received a no-objection nod from stock exchanges for its merger with private sector lender IndusInd Bank.

BFIL (earlier SKS Microfinance) said it received no-objection from the NSE on June 1 and from BSE on June 4 for its proposed merger with IndusInd Bank following the feedback from markets regulator SEBI. The no-objection is based on draft scheme and other documents submitted by the company, it added.

5. Citi Bank has become the first corporate bank to make use of UK's Open Banking regime.
(Top Current Affairs MCQs 14th June 2018)

Citi has become the first corporate bank to enroll with the UK Open Banking Directory as a Payment Initiation Service Provider (PISP), with a view to meeting treasurer's evolving needs for easy access to payment data without the need to build applications or interfaces to connect to proprietary banking portals.

Open Banking in the UK, which went live in January 2018, requires the nine largest UK banks to publish open APIs, enabling regulated third party providers to access bank accounts securely and with account holder consent.

While much of the focus on Open Banking has centred around data sharing with fintech startups, Citi is taking advantage of the framework to streamline the business of collecting and making payments on behalf of its business customers.

6. Reserve Bank of India stated that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability.
(14th June 2018 Current Affairs Questions)

RBI in a bid to check loan defaults, RBI said today that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability.

Following a report by Yeshwant M Deosthalee headed High Level Task Force, RBI said it has considered the recommendations and decided to set up a PCR in a modular and phased manner.

An Implementation Task Force (ITF) is being constituted to help design and undertake logistics for the next steps in setting up of the PCR, it said after the second bi-monthly monetary policy review of 2018-19.

7. Former RBI deputy governor H R Khan was appointed as the chairman of Bandhan Bank.
(Current Affairs in Short 14th June 2018)

Bandhan Bank has appointed H R Khan, a former RBI deputy governor, as non-executive chairman.

The board of directors of the bank at its meeting held today appointed Harun Rasid Khan as the non-executive, part time chairman of the bank, Bandhan Bank said in a filing to BSE.

Khan's appointment will be for a period of three years with effect from June 5, 2018 or till the expiry of his term as an independent director whichever is earlier, the bank said in a regulatory filing.

Khan will be the independent director of the bank at a remuneration of Rs 24 lakh per annum subject to RBI and other approvals.

8. Karur Vysya Bank tied up with Aditya Birla Health to provide insurance services to customers.
(Current Affairs Capsule 14th June 2018)

Private sector Karur Vysya Bank has recently entered into a bancassurance partnership with Aditya Birla Health to provide insurance services to customers.

The lender said it has already partnered with Birla Sunlife Insurance Co Ltd for providing life insurance products to its customers.

9. SVC Bank has received the National Payments Excellence Award 2017 by NPCI.
(June 14th 2018 Objective Current Affairs)

SVC Bank received the National Payments Excellence Award 2017 awarded by National Payments Corporation of India (NPCI).
The award is the highest recognition in the industry for exceptional performance in payments system.

SVC Co-operative Bank received the award for its outstanding performance in NFS ATM Network and CTS.

10. Central Bank of Chile hit by cyber-attack, hackers steal USD 10 million.
(Important Current Affairs Quiz 14th June 2018)

Shares in the Bank of Chile were down after it confirmed hackers had siphoned off $10 million of its funds, mainly to Hong Kong, though the country’s second-largest commercial bank said no client accounts had been impacted.

The cyber heist is the latest in a string of such attacks, including one in May in Mexico in which thieves used phantom orders and fake accounts to steal hundreds of millions of Mexican pesos out of the country’s banks, including Banorte.
 ______________________

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