Daily GK Potion – 28th November 2014

  1. PSU banks gets autonomy to appoint auditor
    • The government said public sector banks (PSBs) will get autonomy in selection and appointment of their Statutory Central Auditors (SCAs).
    • “The work of selection and appointment of SCAs henceforth, has been delegated to individual PSBs for the year 2014-15 onwards,” said Finance ministry.
    • The Reserve Bank of India (RBI) will provide the selection criteria for selecting SCAs to PSBs.
  2. Mauritius inks Rs 100 crore deal with HAL for Dornier aircraft
    • The Mauritius government has signed a contract worth nearly Rs 100 crore with aerospace major Hindustan Aeronautics Limited (HAL) here to acquire its Dornier aircraft for maritime surveillance.
    • HAL has supplied helicopters like Cheetah, Chetak and Dhruv, and two Dornier aircraft in maritime version to Mauritius in the past.
  3. Karnataka Bank launches online loan application for MSME customers
    • Karnataka Bank announced the launch of an online loan application for MSME customers on its website.
    • The system will also enable tracking of the status of the application, wherein the applicant will receive an intimation through e-mail.
    • he Bank has also entered into a strategic tie up with Reliance Capital for financing the working capital needs of the MSME customers.
  4. Reserve Bank of India (RBI) issues final guidelines for small finance banks and payments banks
    • The Reserve Bank of India (RBI) issued final guidelines for small finance banks and payments banks, paving the way for mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses.
    • The minimum paid-up capital for these banks will be Rs.100 crore each.
    • The foreign shareholding will be in line with the foreign direct investment (FDI) policy for private sector banks.
    • Applications will be accepted till the close of business as on January 16, 2015.
    • The small finance banks will be required to extend 75 per cent of its adjusted net bank credit (ANBC) to the sectors eligible for classification as priority sector lending (PSL) by the RBI.
    • At least 50 per cent of its loan portfolio should constitute loans and advances of up to Rs. 25 lakh.
  5. Indian, Chinese comapnies sign $1.5bn MoU
  6. Corporation Bank has decided to allow unlimited free transactions on its ATMs for savings bank account holders of the bank.
  7. WTO clinches first global trade deal in its history
    • The World Trade Organization adopted the first worldwide trade reform in its history after years of stalemate, months of deadlock and a final day’s delay following an eleventh-hour objection.
    • The agreement means the WTO will introduce new standards for customs checks and border procedures.
  8. R. C. Tayal, Central Reserve Police Force (CRPF) Special Director­General, will be given the additional charge of Director­General following the retirement of Dilip Trivedi.