Banking Current Affairs 6th - 10th August 2015

Advanced 467 Reasoning Puzzles Book SBI PO 2018
NABARD accredited by UN's Green Climate Fund
  • National Bank for Agriculture and Rural Development (NABARD) has been accredited by the Green Climate Fund as an implementing entity for undertaking climate change related projects in India. 
  • The Green Climate Fund (GCF) was set up under the framework of the United Nations Framework Convention on Climate Change (UNFCCC) in 2010 to help developing countries finance clean energy, other mitigation efforts and adaptation to climate change. 
  • NABARD is the only NIE in the country, at present, for undertaking climate change projects.
Parliamentary panel asks finance ministry to make 15% of PSB branches all-women offices
  • A parliamentary panel has recommended making at least 15 per cent Public Sector Banks (PSBs) branches all-women offices to provide safe and convenient work environment to women in the banking sector. 
  • It has also recommended flexible working hours for women employees to help them balance their professional and family responsibilities. 
  • The PSBs have a total staff strength of about 8,57,868. Of this, women employees account for 1,96,374, constituting 24 per cent of the total workforce as of September, 2014. Among them 72,625 are officers, 1,02,354 clerks, and 20,475 women work at the level of sub-staff. 
Banks Board Bureau to be set up soon: Financial Services Secretary Hasmukh Adhia
  • The government will soon set up a body, Banks Board Bureau (BBB), to recommend appointment of directors in public sector banks and advise on ways for raising funds and mergers and acquisitions to the lenders. 
  • The Bureau is likely to be a six-member board comprising former CMDs of banks and financial services sector experts. It will be headed by Secretary, Department of Financial Services. 
  • There are 22 state-owned banks in India including SBI, IDBI Bank and Bhartiya Mahila Bank. 
  • It would also be responsible for selection of non-executive chairman and non-official directors on the boards. 
  • Besides, the body will also steer strategy discussion on consolidation based on the requirement. 
India-born Sundar Pichai named new CEO at re-organised Google

  • India-born Sundar Pichai will be the new CEO of Google under a major restructuring at the technology giant, as co-founder Larry Page lauded the IIT alumnus' "progress and dedication" and said it is "time" for him to take over the company's reins. 
  • Pichai, 43, who was previously in-charge of product and engineering for Google's Internet businesses, will be the CEO of the "slightly slimmed down" Google. 
  • He received a B.Tech. from the Indian Institute of Technology, Kharagpur and holds an M.S. in Engineering and Materials Science from Stanford University and an MBA from the Wharton School. 
ICICI Bank launches ‘Saral-Rural Housing Loan’ Scheme for weaker sections

  • India’s largest private sector lender Industrial Credit and Investment Corporation of India (ICICI) Bank has launched ‘ICICI Bank Saral-Rural Housing Loan’ Scheme for weaker sections of society.
  • The scheme is new home loan proposition of the bank with special interest rate to cater people from rural areas including women borrowers as well as from weaker sections.
  • Housing loan will be provided at the ICICI Bank Base Rate (known as I-Base) which is currently at 9.70%.
  • An eligible customer can avail of loan to purchase, construction or renovation of a home in the rural areas.
  • The loan will range from five to fifteen lakh rupees for a period of 3–20 years and the loan can be up to 90 per cent of the property value.
Union Government launches Suraksha Bandhan drive in Mission Mode
  • Union Government has launched Suraksha Bandhan drive in a Mission Mode through participating insurance companies and banks.
  • The drive aims at taking forward Union Government’s objective of creating a universal social security system in the country, especially for the poor and the under-privileged sections.
  • It will facilitate enrolment of these sections under social security schemes such as Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
  • Participating Banks will be supported by the participating Insurance Companies. They will collectively work towards local outreach and awareness building in order to facilitate enrolments during this drive.
  • During this drive, enrolling persons will be exempted to submit a certificate of good health for PMJJBY.
  • This drive will be supported through the Jeevan Suraksha Gift Cheques of 351 rupees to facilitate one year payment of premium for PMJJBY and PMSBY.