Money Current Affairs, GK & News

Money

Anything that can be generally acceptable as payment for goods and services or settlement of debts is Money. It is the element of confidence that others will accept it as a payment is what gives the purchasing power to money. The major functions of money are: It a medium of exchange Its a unit of ..

Restructuring and loan drive for MSMEs

The state owned public sector banks are to hold a month long drive to provide relief to the small businesses (MSMEs) through loans and restructuring options. The outreach program was launched by the central government in December and is to last till January 6, 2020. The banks are provide working capital for these MSMEs and ..

Topics: Bank • Banking • Economic history of Italy • Economy • Financial services • Loans • Money • Small and medium-sized enterprises

CCI nod for merger of BOB and BNPP

On 14 Nov, the Competition Commission of India (CCI) has approved the merger of the BNP Paribas (BNPP) Mutual Fund and the Baroda (BOB) Mutual Fund, under the Competition Act, 2002. The parties propose to amalgamation includes BOB BOB Asset Management Company (AMC) into BNPP AMC and BNPP Trustee Company (TC) into BOB TC. After ..

Topics: American Motors Corporation • Asset management • BNP • BNP Paribas • BNPP • Finance • Investment • Money • Mutual Fund

SBI launches contactless mobile phone payments facility

The SBI Card has  launched the ‘SBI Card Pay’ that allows contactless payment using mobile phones at PoS terminals. Using SBI Card Pay, customers can make contactless payments at Near Field Communication (NFC) enabled point of sale terminals with just one tap of their mobiles, without using the physical credit card or entering any PIN. ..

Topics: Contactless payment • Economy • Finance • Host card emulation • Microsoft Pay • Mobile payments • Money • Near-field communication • NETS • Payment card • Payment systems • Point of sale

Axis Bank launchs a short-term online fixed deposit product “Express FD”

Axis Bank has launched a short-term online fixed deposit product ‘Express FD’ that allows a customer to open a FD account in 3 minutes through the digital mode without opening a savings account with the bank. The new product offers a host of features like attractive interest rates, zero issuance fees and no penalty on ..

Topics: Bank • Bank deposits • Banking • Banking in India • Deposit account • Economy • FD • Finance • Fixed deposit • Fixed income • Flexi Fixed Deposits • Money

Reserve Bank of India (RBI) cuts its key lending rate

As per 4th bi – monthly Monetary Policy Statement for 2019-20, the Reserve Bank of India (RBI) has cut  its key lending rate — repo rate – by 25 basis points to 5.15% in an effort to boost a sluggish economy as inflation remains in a comfortable zone.  This is the 5th consecutive rate cut ..

Topics: Central bank • Economy • Finance • Finance in India • Inflation • Interest Rates • Monetary Policy • Monetary policy of India • Money • Official bank rate • Repurchase agreement • Reserve Bank of India

BoB signs MoU with Indian Army for customised services

The Bank of Baroda (BoB) has signed a Memorandum of Understanding (MoU) with Indian Army under which the bank would offer customised services along with a host of facilities to account holders. The MoU offers handsome free personal accident insurance cover, free air accident insurance cover of Rs 15 lakh to Rs 50 lakh and ..

Topics: Bank of Baroda • Debt • Economy • Finance • Financial law • Insurance • Money • MOU • Overdraft • Public Sector Banks in India