Current Affairs for IBPS Clerk Mains | 31st December 2019 Current Affairs Questions and Answers - Smartkeeda

Directions: Study the following questions carefully and answer the questions given below.
1
On 28th December 2019, the Reserve Bank of India (RBI) has directed large cooperative banks to report all exposures of _____________ rupees.
» Explain it
A
Hinst to Remember

Who: RBI
What: directs large co-op banks to report exposures above Rs 5 cr
When: published on 28th December 2019

The Reserve Bank of India (RBI) has directed large cooperative banks to report all exposures of 5 crore rupees and more to the Central Repository of Information on Large Credits (CRILC). The move is aimed at early detection of financial distress.

The Reserve Bank has created a CRILC of commercial banks, all India financial institutions and certain non-banking financial companies with multiple objectives, which, among others, include strengthening offsite supervision and early recognition of financial distress.

For the complete information kindly visit given link:

http://newsonair.com/News?title=RBI-directs-large-co-op-banks-to-report-exposures-above-Rs-5-cr&id=376749

 
2
As per the recently guidelines by RBI, banks can no longer charge savings bank account holders for online transactions in the NEFT system from _________ 2020
» Explain it
D
Hints to Remember

Who: banks
What: cannot charge you for online NEFT transactions from January 2020
When: published on 20th December 2019

From January 2020, banks can no longer charge savings bank account holders for online transactions in the NEFT system. The Reserve Bank of India (RBI) has now mandated banks to do this through a press release on Friday. In its press release, RBI stated that it is doing this to promote digital payments.

In its July monetary policy review, RBI had decided to do away with charges for NEFT and RTGS transactions. However, it hadn’t set a date by when banks had to comply. In its July statement it had said, “In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by the Reserve Bank for transactions processed in the RTGS and NEFT systems. Banks will be required, in turn, to pass these benefits to their customers.”

For the complete information kindly visit given link:

https://economictimes.indiatimes.com/wealth/personal-finance-news/from-january-2020-banks-cannot-charge-you-for-online-neft-transactions/articleshow/71970375.cms

 
3
The Reserve Bank of India has released Guidelines for ‘on tap’ Licensing of SFBs in the Private Sector. What does SFB stand for?
» Explain it
A
Hints to Remember

Who: The Reserve Bank of India
What: released Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector
When: published on 5th December 2019

The Reserve Bank of India released on its website, “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”.

Major changes from the earlier Guidelines on Small Finance Banks dated November 27, 2014, are (i) The licensing window will be open on-tap; (ii) minimum paid-up voting equity capital / net worth requirement shall be ₹ 200 crore; (iii) for Primary (Urban) Co-operative Banks (UCBs), desirous of voluntarily transiting into Small Finance Banks (SFBs) initial requirement of net worth shall be at ₹ 100 crore, which will have to be increased to ₹ 200 crore within five years from the date of commencement of business. Incidentally, the net-worth of all SFBs currently in operation is in excess of ₹ 200 crore; (iv) SFBs will be given scheduled bank status immediately upon commencement of operations; (v) SFBs will have general permission to open banking outlets from the date of commencement of operations; (vi) Payments Banks can apply for conversion into SFB after five years of operations, if they are otherwise eligible as per these guidelines.

For the complete information kindly visit given link:

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=48807

 
4
Asian Infrastructure Investment Bank (AIIB) is to lend a $500-million loan to develop a suburban rail network in which city?
» Explain it
C
Hints to Remember

Who: AIIB
What: to lend USD 500 mn to India to develop suburban rail network
When: published on 15th December 2019

For the complete information kindly read the given lines:

Asian Infrastructure Investment Bank (AIIB) is to lend a $500-million loan to develop a suburban rail network in Mumbai.

It will also fund $75 million to help finance renewable energy projects in India.

India AIIB's largest borrower.

AIIB plans to scale up lending operations to $10 billion every year.

Until now, it was lending $4.2 billion. India's share in the total borrowing is about 30%.

India is the largest borrower from AIIB.

The total funding India received from AIIB, so far, is $2.9 billion.

5
The Competition Commission of India (CCI) has approved the merger of the ______________ and the Baroda (BOB) Mutual Fund, under the Competition Act, 2002
» Explain it
A
Hints to Remember

Who: CCI
What: Approves Merger Of BNP Paribas Mutual Funds And Bank Of Baroda Mutual Funds
When: pubslihed on 14th December 2019

For the complete information read the given lines:

The CCI has approved the merger of BNP Paribas Mutual Fund and the Bank of Baroda Mutual Fund, the asset management wings of BNP Paribas ("BNPP") and Bank of Baroda ("BoB").

Under the proposed merger, BOB Asset Management Company ("AMC") will be amalgamated into BNPP AMC while BNPP Trustee Company ("TC") will be amalgamated with BOB TC.

After the merger, BNPP Asset management Company and BoB Trustee Company will be the surviving entities.

BNPP AMC is the dedicated AMC for BNPP Mutual Fund and acts as the investment manager of BNPP Mutual Fund. BNPP AMC is also a registered as portfolio manager under SEBI Regulations. It provides portfolio management services and advisory activities. BNPP TC is the trustee company of BNPP Mutual Fund.

BoB AMC is the dedicated AMC for BoB Mutual Fund and acts as the investment manager of BOB Mutual Fund. BOB TC acts as the trustee for BOB Mutual Fund.

Important Current Affairs Questions and Answers: 31st December 2019
 
1. ONGC gets green nod for Rs 3,500 cr onshore exploration project in Assam.
(Important Current Affairs Questions and Answers of 31st December 2019)

State-run ONGC has received environment clearance (EC) for carrying out onshore exploration, development and production of oil and gas in 100 locations in non-forest area of Assam, that would entail an investment of Rs 3,500 crore, according to official documents.

The Union Environment Ministry has given green clearance to ONGC, the country's largest oil and gas exploration and production company, after taking into account the recommendations of a green panel.

2. China to issue revised local GDP figures under new mechanism from 2020.
(Top 10 Objective Current Affairs Quiz of 31st December 2019)

China will revise its historical regional GDP data under a unified accounting mechanism from early next year. The Chinese economy grew at an annual pace of 6.0 per cent in the July-September quarter, the slowest growth since 1992.

The National Bureau of Statistics new mechanism will unify the standards and procedures for calculating national and local GDP numbers which had been calculated under different accounting methods adopted by local and national statistics authorities since 1985.

3. HDFC Life ties up with Paytm to expand its distribution.
(Most Important Current Affairs Quiz of 31st December 2019)

HDFC Life Insurance, one of India's leading private life insurers has partnered with Paytm to enable customers of Paytm to purchase insurance products from HDFC Life.

HDFC Life has been doing strategic partnerships and tie-ups across industries to have a wider reach.

Parvez Mulla, COO at HDFC Life said in an interview earlier, Cross industry partnerships will go long way in increasing penetration. In our partnership with Airtel, India’s 2nd largest telecom company, we issued policies within seconds & was a great learning experience for Airtel & HDFC Life.

4. RBI increases household income limits for borrowers of NBFCs and MFIs.
(Top 10 MCQs on Current Affairs of 31st December 2019)

Reserve Bank has increased the household income limits for borrowers of Non-Banking Financial Companies (NBFCs) and microfinance institutions (MFIs) from 1 lakh to 1.25 lakh rupees. The move is aimed at strengthening credit to those at the bottom of the economic pyramid in rural areas. Similarly, the limit has been increased from 1.6 lakh for urban or semi-urban areas to 2 lakh rupees.

RBI said in a circular that the limit has been increased after taking into consideration the important role played by microfinance institutions in delivering credit to those at the bottom of the economic pyramid and to enable them to play their assigned role in a growing economy.

5. India-Russia-China are to explore an alternative to SWIFT.
(Latest Current Affairs Quiz of 31st December 2019)

India, Russia and China are exploring an alternative to the US-dominated SWIFT (Society for Worldwide Interbank Financial Telecommunication) payment mechanism in a bid to smoothen trade with countries facing American sanctions, people aware of the development said.

Russia’s financial messaging system SPFS will be linked with the Chinese cross-border interbank payment system CIPS. While India still does not have a domestic financial messaging system, it plans to link the Central Bank of Russia’s platform with a service that is under development, the persons cited earlier told ET.

The new system is expected to work as a “gateway” model when messages on payments are transcoded in accordance with a certain financial system. India stopped importing oil from Iran after waiver for such imports was not extended by the US in May this year.

6. CCI Approves Merger Of BNP Paribas Mutual Funds And Bank Of Baroda Mutual Funds.
(Today’s Current Affairs Capsule of 31st December 2019)

The CCI has approved the merger of BNP Paribas Mutual Fund and the Bank of Baroda Mutual Fund, the asset management wings of BNP Paribas ("BNPP") and Bank of Baroda ("BoB").

Under the proposed merger, BOB Asset Management Company ("AMC") will be amalgamated into BNPP AMC while BNPP Trustee Company ("TC") will be amalgamated with BOB TC.

After the merger, BNPP Asset management Company and BoB Trustee Company will be the surviving entities.

BNPP AMC is the dedicated AMC for BNPP Mutual Fund and acts as the investment manager of BNPP Mutual Fund. BNPP AMC is also a registered as portfolio manager under SEBI Regulations. It provides portfolio management services and advisory activities. BNPP TC is the trustee company of BNPP Mutual Fund.

BoB AMC is the dedicated AMC for BoB Mutual Fund and acts as the investment manager of BOB Mutual Fund. BOB TC acts as the trustee for BOB Mutual Fund.

7. AIIB to lend USD 500 mn to India to develop suburban rail network.
(Latest Current Affairs PDF of 31st December 2019)

Asian Infrastructure Investment Bank (AIIB) is to lend a $500-million loan to develop a suburban rail network in Mumbai.

It will also fund $75 million to help finance renewable energy projects in India.

India AIIB's largest borrower.

AIIB plans to scale up lending operations to $10 billion every year.

Until now, it was lending $4.2 billion. India's share in the total borrowing is about 30%.

India is the largest borrower from AIIB.

The total funding India received from AIIB, so far, is $2.9 billion.

8. The Reserve Bank of India released Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector.
(Daily Current Affairs PDF of 31st December 2019)

The Reserve Bank of India released on its website, “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”.

Major changes from the earlier Guidelines on Small Finance Banks dated November 27, 2014, are (i) The licensing window will be open on-tap; (ii) minimum paid-up voting equity capital / net worth requirement shall be ? 200 crore; (iii) for Primary (Urban) Co-operative Banks (UCBs), desirous of voluntarily transiting into Small Finance Banks (SFBs) initial requirement of net worth shall be at ? 100 crore, which will have to be increased to ? 200 crore within five years from the date of commencement of business. Incidentally, the net-worth of all SFBs currently in operation is in excess of ? 200 crore; (iv) SFBs will be given scheduled bank status immediately upon commencement of operations; (v) SFBs will have general permission to open banking outlets from the date of commencement of operations; (vi) Payments Banks can apply for conversion into SFB after five years of operations, if they are otherwise eligible as per these guidelines.

9. Banks cannot charge you for online NEFT transactions from January 2020.
(Current Affairs and GK Quiz of 31st December 2019)

From January 2020, banks can no longer charge savings bank account holders for online transactions in the NEFT system. The Reserve Bank of India (RBI) has now mandated banks to do this through a press release on Friday. In its press release, RBI stated that it is doing this to promote digital payments.

In its July monetary policy review, RBI had decided to do away with charges for NEFT and RTGS transactions. However, it hadn’t set a date by when banks had to comply. In its July statement it had said, “In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by the Reserve Bank for transactions processed in the RTGS and NEFT systems. Banks will be required, in turn, to pass these benefits to their customers.”

10. RBI directs large co-op banks to report exposures above Rs 5 cr.
(Current Affairs Questions and Answers of 31st December 2019)

The Reserve Bank of India (RBI) has directed large cooperative banks to report all exposures of 5 crore rupees and more to the Central Repository of Information on Large Credits (CRILC). The move is aimed at early detection of financial distress.

The Reserve Bank has created a CRILC of commercial banks, all India financial institutions and certain non-banking financial companies with multiple objectives, which, among others, include strengthening offsite supervision and early recognition of financial distress.

 
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We at www.smartkeeda.com provide you with top 31st December. 2019, 31 December Current Affairs Questions and Answers of the day with their detailed explanation with hints to remember GA facts and figures.

Take Current Affairs quiz Online based on December 31 2019 Current Affairs events to sharpen your General Awareness knowledge. Get our specially designed Current Affairs Quiz 31st December 2019 for practice for all the major upcoming exams like SBI Clerk 2019, Syndicate Bank PO 2019, Canara Bank PO 2019, IBPS Exams 2019, CLAT 2019, MAT 2019, UPSC CDS 2019, etc. The Current Affairs Quiz 31 December 2019 covers questions from all important events across India as well as the World. Attempt top 10 Current Affairs Questions of 31 December 2019 taken from important events happened on 31st December Current Affairs Questions 2019 across the globe. Make the most of the Current Affairs questions December 4, 2019 and prepare well for upcoming competitive exams.

Practise 31st December Current Affairs Questions from all 31st December Current Affairs categories. Learn December 31st Current Affairs important questions of the day for free at Smartkeeda. The 31st December Current Affairs Quiz includes Current Affairs questions of the day from the most important National, International, Sports, Politics, Business, etc events and are presented to you in a Current Affairs Quiz form. Solve all 31 December Questions of Current Affairs and prepare better for upcoming competitive exams.

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