BANKING
AWARENESS
1. Inflation
low to 6.62 percent in January 2013
i. The inflation rate of
India dropped down to the three year low in the chart to 6.62 percent in
January 2013 from the 7.18 percent, measured in December 2012.
ii. The inflation was
measured based upon monthly Wholesale Price Index.
iii. The official
Wholesale Price Index for All Commodities (Base: 2004-05 = 100) in
January, 2013 rose by 0.4 percent to 169.2(Provisional) from 168.6
(Provisional) for the previous month.
2. NTPL signs 1,000 MW project
with banks:
i. A groups of banks which
includes Bank of India, Indian Bank and Central Bank of India has
agreed to lend Rs 937 crore for the 1,000 –MW NTPL power project, a
joint venture of the Neyveli Lignite Corporation and the Tamil
Nadu Power Generation and Distribution Corporration.
ii. The project is being set
up at Tuticorin in Tamil Nadu. The Project would
be taken up at an estimated cost of Rs. 4,909.54 crore.
iii. The power generated from
the project would be distributed amongTamil Nadu, Kerala, Karnataka and
Puducherry.
3. SBI launched “Tatkal
Scheme”...
i. Recently “Tatkal” scheme
is launched by SBI (State Bank of India) that enables the
people to transfer money to their families in their native towns and villages
without actually opening an account.
4. Saxo Bank enters Indian
market:
i. Saxo Banks has
announced its entry into the Indian market to provide trading platform for
foreign equities.
About
Saxo Bank:
i. An online Danish
investment Bank:
Headquater: Copenhagen, Denmark
Chairman: Kurt K. Larsen
Service
offered:
i. Trading via an online
platform Saxo Trader in Forex, stocks, futures, funds and Bonds
ii. Private wealth
management services.
iii. The bank provides
online trading and investment across global financial markets.
iv. Saxo Bank is well
known internationally for its success in Internet brokerage and it has bagged
numbers of awards for the same.
5. 50% increases in Bad loans of
listed banks:
i. The bad loans or Non
Performing Assets of listed banks swelled by 50% at Rs 30,840
crore in the first nine months of the current financial year ended
December 31,2012.
ii. The net Non-Performing
Assets (NPAs) of 40 listed banks surged to Rs 92,398 crore as on
December 31, 2012, from Rs 61,558 crore as on March 31, 2012.
iii. The net NPAs in State
Bank of India, Punjab National Bank and Bank of Baroda rose by 60%,
70% and 118% respectively.
6. Govt. increase NABARD capital
base to Rs 20,000 crore
i. The Govt. has increased
the capital base of India’s apex development bank NABARD to Rs 20,000
crore from existing Rs 5000 crore.
ii. The increase will augment
the operations and broaden the activities of NABARD. Following these changes
NABARD would be able to undertake short term lending operations and introduce
new credit products.
7. Financial institutions
Syndicated deal Award goes to Yes Bank:
i. YES Bank has been awarded
the Financial Institutions Syndicated Deal of the Year 2012 in its Asia
Pacific Region.
ii. The award was given
for $155 million loan syndicated by YES bank which
was distributed across 9 different countries from 14 banks.
iii. The award was given
away by Asia Pacific Loan Market Association (APLMA), which is a
leading trade association for syndicated loan market in this region.
8. Exports of India Increased By
0.8 Per Cent in January 2013
i. The exports of India
increased by 0.8 percent in the month of January 2013 to
25.58 billion US dollars.
ii. Comparatively,
exports in January 2012 were 25.37 billion US dollars.
iii. Imports on the
other hand, increased by 6.12 percent to 45.5 billion
iv. Oil imports in
January 2013 increased by 6.91 percent to 15.89 billion US dollars in
comparison to 14.87 billion US dollars in January 2012.
9. Net Direct Tax Collection
Grew 12 Percent in April-January in FY 2012-2013
i. Net Direct Tax
collections registered a growth of 12.49 percent, i.e., 390310 crore Rupees
in 2012-2013 fiscal year against 346959 crore Rupees in 2011-2012 fiscal year.
ii. Gross Direct Tax
collection from the period of April to January in fiscal year
2012-2013 increased by 7.02 percent at 455125 croreRupees against
425274 crore Rupees in same period in 2011-2012 fiscal year.
iii. 2.85
percent growth was
recorded in wealth tax. It increased to 685 crore Rupees in 2012-2013 financial
year in comparison to 666 crore Rupees in 2011-2012 financial year.
iv. Gross
collection of
the corporate taxes increased 3.71 percent,i.e., 296451
crore Rupees in 2012-2013 fiscal year against 285837 crore Rupees in
2011-2012.
v. Gross collection of personal
income tax increased by 13.81 percent, i.e., 157913 crore
Rupees in 2012-2013 fiscal year against 138746 crore in 2011-2012
fiscal year.
10. Dell ready to become private
in $24 billion deal
i.
PC manufacturer
Dell is ready to go private in a $24 billion buyout.
ii. The company
which is facing slump will pay its stockholders$13.65 share to
leave the company on its own.
iii. The company
will be sold to a group of investors that includes investment firm Silver
Lake.
iv. Once this is done, Dell
will stop trading on the NASDAQ
v. Dell’s sale is the
highest –priced leveraged buyout of a technology company.
NOTE:
i. Dell
did rapid growth through the 1990s which brought its founder Michael
Dell into one of the world’s richest people.
ii. Michael Dell, who
owns nearly 16% stake in the company will remain the CEO after
the sale closes.
