RBI Slaps Rs 5 Crore Penalty On Karur Vysya Bank

The Reserve Bank of India has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives. According to RBI statement, the penalty was imposed for non-compliance with its directions on “Income Recognition and Asset Classification (IRAC) norms, reporting of frauds, and on the need for discipline at the time of opening of current accounts”. 
Source- The Economic Times

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Karur Vysya Bank Headquarters: Karur, Tamil Nadu, MD & CEO: PR Seshadri. 

India’s External Debt Declines 2.8% At June-End: RBI

As per the RBI, India’s external debt declined 2.8% to USD 514.4 billion at June-end over the previous quarter on account of a decrease in commercial borrowings, short-term debt and non-resident Indian (NRI) deposits. At end-June 2018, the external debt was placed at USD 514.4 billion, recording a decrease of USD 14.9 billion over its level at end-March 2018. 
The decrease in the magnitude of external debt was primarily due to valuation gains resulting from the appreciation of the US dollar against the Indian rupee and major currencies. The external debt to GDP ratio stood at 20.4% at end-June 2018, a shade lower than its level of 20.5% at end-March 2018. 

Source- The Economic Times

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Urjit Patel- 24th Governor of RBI, Headquarters- Mumbai, Established on- 1st April 1935, in Kolkata.

AYUSH Information Cell Set Up At Indian Embassy in Romania

Ministry of AYUSH has set up an AYUSH Information Cell at the premises of the Indian Embassy in Romania to disseminate authentic information about AYUSH system of medicine and encourage Ayurveda practice in Romania. 
The AYUSH Information Cell, Romania will help to organise lectures, consultation, conduct seminars, training courses and facilitate associations of AYUSH stakeholders for networking conducting meetings, develop awareness of AYUSH system among public in Romania. 
Source- Press Information Bureau (PIB)

Static/Current Takeaways Important for RRB Clerk Mains Exam 2018- 
  • Romania Capital: Bucharest, Currency: Romanian leu. 

Odisha CM Naveen Patnaik Inaugurates 3-Day Kalahandi Dialogue

The three day Kalahandi Dialogue, a global conclave on development has been launched by Chief Minister Shri Naveen Patnaik. Using the platform the Chief Minister launched several projects for the district of Kalahandi. 
Sujeet Kumar was the Chairperson of Kalahandi Dialogue. The dialogue aimed to involve youth in development activities. New PG programmes launched at OUAT and three centres of excellence were launched. 
Source- orissadiary

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Odisha Governor: Ganeshi Lal.
  • Simlipal NP is a national park and a tiger reserve in the Mayurbhanj district, of Odisha. 

Goa And Portugal Inks MoU for Water and Sewage Management

The MoU between the Portuguese Environment Ministry and Goa Public Works Department (PWD) was signed. It will help Goa manage its water resources better. 
The signing of the two-year long arrangement is a significant move to work in tandem to develop common initiatives for water supply and wastewater management in the state. The projects would include:
1. Opa water supply project in north Goa,
2. Sewage water treatment plant in Valpoi and
3. Manganese-removal efforts in Selaulim Reservoir.
Source- IB Times

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Goa CM: Manohar Parrikar, Governor: Smt. Mridula Sinha.
  • Portugal Capital: Lisbon, Currency: Euro.

Kolkata Gets India’s 1st Comprehensive City-Level Flood Forecasting and Warning System

Kolkata Municipal Corporation (KMC) launched a Flood Forecasting and Early Warning System (FFEWS) for Kolkata City. It is also India’s first comprehensive city-level FFEWS. It will reduce economic loss and impacts on livelihood and improve flood awareness and safety at the community level. 
The Asian Development Bank (ADB) funded the design and implementation of the FFEWS through a $1 million technical assistance to KMC from its Urban Climate Change Resilience Trust Fund under the Urban Financing Partnership Facility. 
Source- Press Information Bureau (PIB)

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • The Asian Development Bank is a regional development Bank established in 1966. 
  • Headquarters of ADB is in Manila, Philippines. 
  • Takehiko Nakao is Present President of the Asian Development Bank. 

Maharashtra Tops List Of States With Maximum Average AUM: AMFI

According to Association of Mutual Funds of India’s (AMFI) statistics, Maharashtra tops the chart for state with the maximum penetration and Assets Under Management (AUM). Also, as per August, average assets under management (AUM) of mutual funds rose to an all-time high of Rs 25.2 lakh crore across the country.
For Maharashtra, it touched Rs 10.35 lakh crore, about 41.1% of the all-India total. It is followed by Delhi having Rs 2.35 lakh crore and Karnataka having Rs 1.76 lakh crore.
Source- DD News

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Association of Mutual Funds of Indian (AMFI) Headquarters in Mumbai.
  • A. Balasubramanian is the present Chairman of AMFI.

Sushil Modi-Led GoM To Examine Modalities For ‘Calamity Tax’ Under GST

The Government constituted a seven-member ministerial panel headed by Bihar Deputy Chief Minister Sushil Modi to examine modalities for revenue mobilisation in case of natural calamities and disasters. 
The panel would look into five issues flagged by the Council, including whether the new tax should be levied only in the state concerned or should it be an all-India levy, and that should it be on specified luxury or sin goods only. 
Source- The Times of India

Government Cuts Gross Borrowing Estimate For Current Fiscal By Rs 70,000 crore

Economic Affairs Secretary SC Garg has announced a reduction in gross borrowing estimate for the current fiscal by 70,000 crore rupees and maintained that the government will contain fiscal deficit target at 3.3%. 
Mr Garg gave the details about the borrowing programmes for the second half of the fiscal and announced that the government would be borrowing around 2 lakh 50,000 crore rupees as compared to 2 lakh 88,000 crores during April-September of 2018-19. The Centre will also launch inflation-indexed bonds, adding that one or two bond issues will come in the current fiscal.

Source- The Economic Times

Static/Current Takeaways Important for RRB Clerk Mains Exam 2018- 
  • Arun Jaitley is the present Finance Minister of India. 

Government Constitutes Competition Law Review Committee

In pursuance of its objective of ensuring that Legislation is in sync with the needs of strong economic fundamentals, the Government has constituted a Competition Law Review Committee to review the Competition Act. The Committee will be headed by Injeti Srinivas, Secretary of the Union Ministry of Corporate Affairs. 
The Competition Act was passed in the year 2002 and the Competition Commission of India was set up in pursuance of the same. The Commission started functioning in right earnest from 2009. 
Source- Press Information Bureau (PIB)
Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Arun Jaitley is the Present Minister of Corporate Affairs of India.