Centre Proposes To Merge Bank of Baroda, Vijaya Bank and Dena Bank


The government has proposed amalgamation of Bank of Baroda, Vijaya Bank, and Dena Bank to create India’s 3rd largest globally competitive Bank. Finance Minister Arun Jaitley announced that the amalgamation will increase the banking operations and no employee will face any service condition adverse to present conditions. 
The government had announced in the budget that consolidation of banks was also in the agenda of the government. Earlier, the government had merged five subsidiaries of SBI into State Bank of India. 
Source- The Hindu

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Bank of Baroda Headquarters in Vadodara. 
  • Vijaya Bank Headquarters in Bengaluru. 
  • Dena Bank Headquarters in Mumbai. 

India’s 1st ‘Smart Fence’ Pilot Project Inaugurated By Rajnath Singh

India’s first ‘smart fence’ pilot project was inaugurated by Union Home Minister Rajnath Singh along the Indo-Pak border at the BSF Headquarters in Ploura, Jammu. Smart fencing uses a number of devices for surveillance, communication and data storage. 
The pilot project entails deploying laser-activated fences and technology-enabled barriers to plug vulnerable gaps along frontiers. The system provides for round-the-clock surveillance on the border and in different weather conditions be it dust storm, fog or rain. 
Source- DD News

Static/Current Takeaways Important for RRB PO Exam 2018- 
  • General Bipin Rawat is the Present Chief of Army Staff of Indian Army. 

PayU India Gets RBI Approval To Operate Its Own NBFC

PayU India has received Reserve Bank of India’s (RBI) approval to operate its own non-banking financial company (NBFC). 
The move will help PayU promote inclusive growth in the country by catering to the diverse financial needs of various segments of the society. The approval from the central bank is subject to “certain pending RBI compliance”. 
Source- The Livemint

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • PayU India is a digital payments firm owned by South Africa’s Naspers Ltd. 
  • PayU India managing director Jitendra Gupta. 

Nepal And China Conducts 2nd JME ‘Sagarmatha Friendship-2018’

The second edition of Nepal-China joint military exercise (JME) named Mt Everest Friendship Exercise-2018 (Sagarmatha Friendship-2018) commenced in China’s southwestern Sichuan province. 
The 12 day long joint exercise will focus on combating terror and disaster management trainings. Sagarmatha is the Nepali name for Mt Everest, which stands in between both the countries. 
Source- Business Standard

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • The first Sagarmatha Friendship exercise was held in April 2017 at Nepal Army’s Para Training School in Maharajgunj in Kathmandu (capital of Nepal). 
  • Nepal Capital- Kathmandu, President: Bidya Devi Bnadari. 
  • China President: Xi Jinping, Capital: Beijing, Currency: renminbi. 

SBI Appoints Prashant Kumar As CFO

State Bank of India announced that Prashant Kumar has taken charge as the Chief Financial Officer (CFO) of the Bank. Before Kumar, Anshula Kant, who has been promoted as Managing Director of SBI, was the CFO. 
Prior to this appointment, Kumar was designated as Deputy Managing Director (HR) & Corporate Development Officer of India’s largest bank.

Source- The Hindu Business Line

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • SBI Chairman- Rajnish Kumar, Headquarters- Mumbai, Established on- 01st July 1955.

Rajnath Singh Inaugurates 2 CIBMS Pilot Projects In Jammu

Union Minister of Home Affairs Rajnath Singh inaugurated two Comprehensive Integrated Border Management System (CIBMS) pilot projects along the India-Pakistan border in Jammu region. 
The pilot project includes two 5.5 kilometre-stretches in Jammu, the performance of which will be monitored, and based on the feedback improvements will be made for the rest of the system. A 60-kilometre long pilot project along the Bhramaputra river in Assam’s Dhubri district would also be launched in November. 

Source- ANI News

Time Magazine Acquired By Salesforce Founders For $190 million

Salesforce.com Inc. founder Marc Benioff and his wife Lynne agreed to acquire Time magazine from Meredith Corp. for $190 million in cash, joining Jeff Bezos among tech billionaires buying venerable print publications. 
The move thrusts the brash 53-year-old entrepreneur, who helped lead the shift of software to an on-demand model, into a new role: media baron. TIME magazine publisher Time Inc was sold to Meredith for $1.8 billion in January 2018.

Source- The Livemint

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Time was founded in 1923. 

Former Union minister Satya Prakash Malviya Passes Away

Former Union petroleum minister Satya Prakash Malaviya passed away in Delhi. He was 84. Mr. Malaviya was suffering from prostate cancer. 
Mr. Malaviya had served as the petroleum minister in the cabinet headed by former Prime Minister Chandra Shekhar. He also served as environment minister in the Uttar Pradesh cabinet. 
Source- The Hindu

Infosys Acquires Finnish Company ‘Fluido’ For Rs 545 crore

Infosys has acquired Finnish company Fluido, a top consulting partner of Salesforce, for 65 million euros (about Rs 545 crore). This is Infosys’s second acquisition under CEO Salil Parekh.
Recently, it had acquired US digital creative and consumer insight agency WongDoody for $75 million. The Fluido acquisition will make Infosys the largest Salesforce consulting partner in the Nordics. 
Source- The Times of India

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Infosys CEO: Salil Parekh, Headquarters: Bengaluru. 

PNB Wins Hindi Implementation Award

State-run Punjab National Bank (PNB) bagged the “Rajbhasha Kirti” award for outstanding performance in implementing the Official Language Policy during 2017-18. The award was given on the occasion of Hindi Diwas (14th September). 
The award, under the category of ‘Nationalised Banks and Financial Institutions in Region A’, was presented by Vice President M. Venkaiah Naidu to PNB Chief Executive and MD Sunil Mehta. 

Source- The Indian Express

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Sunil Mehta is the CEO of Punjab National Bank. 
  • It headquarters in New Delhi.