Daily Current Affairs 24 November 2017 for Banking/Insurance/SSC and other related exams.
Govt unveils Umang app for citizen services
Prime Minister Narendra Modi launched a new mobile app — UMANG (Unified Mobile Application for New-age Governance) which will allow citizens to access Government services on a single platform.
- The services live on the app include Aadhaar, DigiLocker, Bharat Bill Payment System (BBPS) among others.
- According to official documents, the UMANG app will provide access to over 1,200 services of various Government organisations in states and at the Centre as well as utility payments.
- It supports 13 Indian languages and caters to on-demand scalability. It will also soon support feature phones without internet through USSD.
- Unified Mobile Application for New-Age Governance (UMANG) app has been developed by SpiceDigital, the technology partner on the UMANG project to design, develop and deliver the app.
Govt to set up Pradhan Mantri Mahila Shakti Kendras in 115 districts
The Centre approved setting up of Pradhan Mantri Mahila Shakti Kendras across 115 most backward districts of the country through a new scheme for reaching out to rural women and facilitating skill development, employment, digital literacy, health and nutrition.
- The government also approved expanding the Beti Bachao, Beti Padhao scheme from 161 districts to 640 districts in the country, as well as 150 additional one stop centres for the survivors of sexual violence along with seven other programmes that are part of the umbrella scheme — the National Mission for Empowerment of Women.
- The financial outlay for these schemes from 2017 to 2020 will be Rs 3,636.85 crore.
HRD ministry launches Digital Signature campaign on Constitution Day
Ministry of Human Resources Development has launched a Digital Signature campaign on Constitution Day affirming faith in Indian Constitution and to generate awareness on fundamental duties enshrined in the Constitution.
- 26th November is celebrated as Constitution Day.
Odisha launches new irrigation scheme
Odisha government has launched a new scheme worth Rs 635 crore to provide irrigation facility to about 55,000 hectare of agricultural land across the state.
- The scheme, “Nabakrushna Choudhury Seccha Unnayan Yojana”, has been named after former chief minister and freedom fighter Nabakrushna Choudhury.
- Under the scheme, 46,296 hectare command area of 14 major and medium irrigations and 284 minor irrigation projects will be revived.
Myanmar, Bangladesh sign deal for return of Rohingya Muslims
Myanmar and Bangladesh have signed a memorandum of understanding for the return of over six lakh Rohingya Muslims who had fled to Bangladesh to escape a violent crackdown by the Myanmar military. The crisis started in August after Rohingya insurgents attacked Myanmar’s security forces, triggering the crackdown which had been dubbed an “ethnic cleansing” by the United Nations.
BANKING & FINANCE
RBI raises shareholding limit of ARCs
The RBI has decided to allow asset reconstruction companies to have higher holding than the 26 per cent cap set earlier with regard to limits on shareholding of the post-converted equity of a borrower company under reconstruction.
- The extent of shareholding will be in accordance with the permissible foreign direct investment limit for the sector.
SBI launches omni digital channel for all banking transactions
State Bank of India (SBI) has launched comprehensive digital service platform ‘You Only Need One’ also known as YONO which is a omni digital platform that offers just about everything related to financial services and lifestyle products or services.
- Besides providing access to financial services, YONO will also allow customers to meet their lifestyle needs across 14 categories including booking & renting cabs, entertainment, dining experience, medical needs, travel and stay.
SBI biggest bank by volume of SMSes: Report
According to the Truecaller Insights’ report, the State Bank of India is the biggest bank by volume of SMSes, with 30 per cent of Truecaller users using it, followed by HDFC at 14 per cent and ICICI at 13 percent.
- The data was aggregated anonymously from incoming and outgoing SMS messages to banking services in India during the period of April 1 to September 31 to understand the trends and usage.
Axis Bank launches blockchain-based international payment service
Private sector lender Axis Bank has launched an instant international payment services using Ripple’s enterprise blockchain technology solution for retail and corporate customers.
- Though an international offer, the bank is offering the facility only to its retail customers in the country to receive payments from the UAE-based Rak Bank and for its corporate customers to receive payments from Standard Chartered, Singapore.
JM Financial gets NHB nod for home finance arm
JM Financial Home Loans, a step-down subsidiary of Mumbai-based JM Financial, has received certificate of registration from the National Housing Bank for carrying out housing finance activities.
Canara Bank rolls out apps, digital library
Canara Bank celebrated its Founder’s Day on November 19 by rolling out several initiatives and benefits for its staff. The initiatives launched include a digital library, a Canarites app, a field recovery mobile app, a retail loan (vehicle) – tracking system, and a regulatory guidance tracking system.
BUSINESS & ECONOMY
Paytm buys majority stake in CreditMate
Paytm has picked up a majority stake in CreditMate, a Mumbai-based startup that facilitates two-wheeler loans for customers with no formal credit history. The company uses data-driven algorithms to disburse loans through its dealer partners.
S&P maintains India’s sovereign ratings at BBB- with stable outlook
Rating agency Standard & Poor’s (S&P) maintained India’s sovereign ratings at ‘BBB-/A-3’ with stable outlook. It said the stable outlook reflects its view that, over the next two years, growth will remain strong, India will maintain its sound external accounts position, and “fiscal deficits will remain broadly in line with our forecasts.”