GK Update | 17th May | Bankersadda
PM's social security schemes: Canara Bank rolls out
awareness campaigns across Delhi
i. Building
on the success of Pradhan Mantri Jan Dhan Yojana, the state-owned Canara Bank
on Sunday rolled out awareness campaigns across Delhi on the Prime Minister's
three latest social security schemes.
ii. Roadshows
were held in 16 clusters across Delhi to promote the three new social security
scheme
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- Pradhan Mantri Suraksha Bima Yojana (PMSBY)
- Atal Pension Yojana (APY).
iii. For
the Delhi region, Canara Bank has enrolled the maximum number of persons
(1,12,929 lives) under the PMSBY among all banks till date. Even in the case of
PMJJBY, Canara Bank is leading the league table with 74,512 lives enrolled up
to May 13 this year, data available with the Delhi State level Bankers'
Committee showed.
CII welcomes biz outcomes of Modi’s China visit
i. According
to CII, Prime Minister Narendra Modi’s visit to China has redefined the
economic partnership between the two largest and fastest-growing developing
economies in the world.
ii. Welcoming
the business outcomes of the visit, it said: “Prime Minister Modi’s visit to
China has redefined the economic partnership of the two largest and
fastest-growing developing economies in the world.’’
iii. In
the presence of the Prime Minister at the India-China Business Forum in
Shanghai, Indian and Chinese companies exchanged 24 agreements for cooperation
totalling $22 billion, including investments and financing across sectors, the
statement said.
iv. Chinese
initiatives in the sectors of railways, skill development, public health and
medical education will further build on economic cooperation between the two
countries, it added.
Govt contains fiscal deficit at 4% of GDP; beats its
own target
i. The
Government has managed to restrict the fiscal deficit to 4 per cent during
2014-15, which is even below the revised estimate announced in the budget.
Fiscal deficit is difference between the income and expenditure of the
Government.
ii. The
fiscal deficit at the end of 2014-15, stands at Rs. 5,01,880 crore which is 98
per cent of the projected figure in RE (Revised Estimate) 2014-15. Fiscal
deficit as a percentage of GDP is 4 per cent as against the RE of 4.1 per cent
(4.4 per cent for the previous year i.e. 2013-14).
Revenue Deficit
The revenue
deficit also came down to 2.8 per cent as against the revised estimate of 2.9
per cent. This deficit refers to mismatch in the projected earning ad
expenditure. Since the Government managed to collect more taxes than it was
expecting, it impacted positively not just the revenue but also fiscal deficit
too.
Income
Tax
authorities managed to collect over Rs. 12.45 lakh crore during the 2014-15,
which is 9 per cent more than 2013-14. This collection is 9.8 per cent of GDP.
Such earnings which also comprise of disinvestment stands at Rs. 43,439 crore
with an increase of 4 per cent.
Expenditure
In terms of
plan expenditure, the RE was Rs. 4.68 lakh crore, but actual was Rs. 4.36 lakh
crore. Similarly, non plan expenditure came down to Rs. 11.91 lakh crore from
the RE of of Rs. 12.13 lakh crore.
India grants
$1 bn credit to Mongolia; deepens defence ties
i. India
today announced a US$ one billion credit line to Mongolia for infrastructure
development as they upgraded their ties to “Strategic Partnership” and agreed
to deepen defense cooperation besides exploring potential for tie ups in areas
like the civil nuclear sector.
ii. The
two Prime Ministers signed a joint statement committing to further consolidate
bilateral ties and upgrade the comprehensive partnership to “strategic
partnership” and agreed to renew their Treaty of Friendly Relations and
Cooperation.
iii. The
two sides inked 13 other pacts that includes one on enhancing cooperation in
border guarding, policing and surveillance, air services, cyber security and
new and renewable energy.
Airtel clinches $2.5 billion Chinese financing deals
i. The
funds will help the company further diversify its global financing pool and
invest in growth of data networks.
ii. Bharti
Airtel has received financing commitments of up to USD 2.5 billion from China
Development Bank and Industrial and Commercial Bank of China, with an average
maturity of about nine years.
iii. The
company signed the term sheets for the financing options in the presence of
Prime Minister Narendra Modi, who is currently on an official visit to
China.
Infosys to open first overseas campus in China
i. As
India pressed China to open its markets for Indian IT firms, technology major
Infosys on Sunday announced establishing its first overseas centre outside
India in China with an investment of about USD 120 million to tap in the
burgeoning Chinese market.
ii. An
MOU in this regard was signed between Infosys and the local Chinese provincial
government at the India-China Business Forum, which was addressed by Prime
Minister Narendra Modi in Shanghai on Sunday.
iii. The
development centre, to be established in China’s Guizhou province, with a staff
capacity of about 4,500 will help to focus on Chinese and global markets.
Rome Masters 2015: Winners
- Women's Singles - Maria Sharapova
- Men's Singles - Roger Federer
- Women's Doubles - Timea Babos and Kristina Mladenovic
- Men's Doubles - P. Cuevas and D. Marrero
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