Ecnomic Current Affairs : Bank PO Special

January 29th, 2009

The public sector banks have decided to cap the home loan interest rate up to five lakh at 5.5% and 5-20 Lakh 9.25%
To check the depreciation of Indian Rupee Government sold $ 20.63 Billion foreign currency during December 2008.
RBI has provided EXIM bank a redefiance facility of 5000 crore rupees during December 2008
In 2008 India’s industrial growth has dipped to -0.4% (first time negative in 15 years) from 12.2 % in 2007
RBI has revealed that India’s Net International Investment Position or Net IIP has declined till June 2008 by 6.45%
Excise collection has also reduced by 8.3 % during 2008
FDI (Foreign Direct Investment) have shown 26% decline in 2008.
State Bank of India has merged its two Mauritius Subsidiaries recently.
Global Cotton trade is likely to fall by 12 % as per International Cotton Advisory Committee.
ADB (Asian Development Bank) has decided to provide $ 150 million to revive Khadi.
SBI has entered in General Insurance by partnering with Insurance Australia Group (IAG)
Public Sector UCO Bank has launched a multipurpose pre funded cheques series of three values Rs. 1000, Rs. 5000 & Rs. 10000. They bear all the features of Demand Drafts and not be able to bounce, as they are pre funded.
Govt of India has allowed foreign direct Investment in News Magazine Sector.
The Cabinet Committee on Economic Affairs has approved a centrally sponsored “National Mission on Medicinal Plants”
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