Important News Of The Day

PM Modi will review the FDI policy tomorrow with a view to removing bottlenecks to overseas inflows, sources said. At the meeting, the commerce and industry ministry will make a detailed presentation on proposed changes to streamline the FDI regime in the country.
-Economic Times 

The  UIDAI has asked private as well as PSBs to set up Aadhaar enrolment facility in at least one out of 10 branches in the coming weeks, a top official has said. Suitable changes have been made recently in Aadhaar regulations to facilitate this.
-Economic Times 

NPCI has developed awareness videos for customers who download their BHIM application for UPI based fund transfer. An SMS based video link will be sent to the  customer who downloads the app for seamless customer onboarding.
-Economic Times 

Lack of adequate machines and related infra has delayed the counting of demonetised currency that has come back into the system, the RBI Governor Urjit Patel is learnt to have told a parliamentary panel on Wednesday. The RBI has cut staff holidays to complete counting of currency notes, he informed.
-Business Standard 

Bhushan Steel has been taken to the National Company Law Tribunal (NCLT) in Delhi by the SBI. Its sister company, Bhushan Power, has also been taken to the NCLT's Delhi bench by  Punjab National Bank. The hearing at the NCLT was adjourned after the financial creditors initiated the insolvency process in the court of Chief Justice M M Kumar and Deepa Krishan. Both the petitions have been filed under the Sec 7 of the Insolvency and Bankruptcy Code, 2016, where the financial creditor initiates insolvency proceedings with a claim.
-Business Standard 

After lowering the IMPS charges, the SBI  today reduced charges for  NEFT and  RTGS transactions upto 75% effective July 15. The reduced charges will be applicable on the transactions done through internet banking and mobile banking services offered by the bank, the bank saidin an official statement.
-Economic Times 

United Bank of India plans to raise up to Rs 500 crore through issuance of Basel III compliant bonds on a private placement basis.
-Business Line 

Former Finance Minister  P Chidambaram today took a dig at the RBI for buying note- counting machines 8 months after demonetisation.
-Economic Times 

Demonetisation has brought the nation at least 3 years ahead in digital payments, SBI Ecoflash stated in its latest issue published today.
-Economic Times 

Patanjali has been rated among the top 10 most influential brands in the country, a new study by global research  firm Ipsos said. While search engine  Google has been ranked at the No 1 slot,  Microsoft and Facebook are at number 2 and 3 respectively. Home grown brands, Patanjali and  Jio have entered the top 10 ranking at 4th and 9th  place  respectively, the survey says. SBI is the only financial brand in the top 10.
-Economic Times 

RBI  said the non-executive chairman of a bank can also be nominated to the audit committee of board of directors. Earlier, any one of the non-executive/non-official directors was supposed to chair the audit committee of the board of the directors of a PSB.
-Economic Times 

SBI will cut charges on electronic transfer of funds through NEFT and RTGS by up to 75% from Saturday, benefiting nearly 5.27 crore customers, a release said today.
-Business Standard 

Yes Bank has received $ 150 million funding from the US government and Wells Fargo to increase lending to support women entrepreneurs and small and medium-sized enterprises in India. This is the third round of funding to the bank as part of arrangement with the Overseas Private Investment Corporation (OPIC) --the US Govt development finance institution -- and Wells Fargo.
-Economic Times 

Axis Bank Ltd has appointed headhunters to start the search for a new CEO to succeed Shikha Sharma, who is set to step down next year, sources said.
-Livemint 

The Supreme Court today told the Government that it would proceed against  Vijay Mallya, who has been held guilty of contempt, only when he is produced before it. A bench considered the submissions of Attorney General K K Venugopal that proceedings to extradite Mallya were going on in London and the Centre was taking steps to secure his presence before the apex court. 
-Financial Express 

India’s trade deficit narrowed in June after swelling to a 30-month high in May even as exports grew slowly in the month. Exports grew 4.39%, a 4-month low in the 10-months of continuous growth, to $23.5 billion. Imports rose 19% to $36.5 billion leaving a trade gap of $12.9 billion in June. Trade deficit was $8.1 billion in the year ago period and $13.84 billion in May.
-Economic Times 

The IT Department has identified another 5.56 lakh individuals whose tax profiles are found inconsistent with the money deposited by them post demonetisation. In the second phase of 'Operation Clean Money' launched in April with an aim to detect black money generation post demonetisation, the I-T dept has used information received under the Statement of Financial Transactions (SFT) from banks to identify additional cases. "These are persons whose tax profiles were found to be inconsistent with the cash deposits made by them during the demonetisation period," a finance ministry statement said.
-Economic Times 

The Railways today launched an integrated mobile application to cater to various passenger requirements, including ticket booking, inquiry, on-board cleaning and ordering meal on a single platform. The app — Rail SAARTHI — was launched here by Railway Minister Suresh Prabhu.
-Financial Express 

Prime Minister Narendra Modi had on November 8 banned 500-rupee and 1000-rupee currency notes.

PERFORMANCE OF PUBLIC SECTOR BANKS 31.3.2017
(Amt. in Rs. Crores)
S.No.	Bank	Deposits	Advances	Total Business	Capital	Govt. Holding
1	Allahabad Bank	201870.22	150752.70	352622.92	743.69	65.92
2	Andhra Bank	195441.25	136846.33	332287.58	681.16	61.26
3	Bank of Baroda	601675.17	383259.22	984934.39	462.09	59.24
4	Bank of India	542352.11	368328.76	910680.87	1055.43	73.72
5	Bank of Maharastra	139052.84	95515.23	234568.07	1168.33	81.61
6	Canara Bank	495266.34	342320.14	837586.48	597.29	66.30
7	Central Bank of India	296671.00	153008.00	449679.00	1902.17	81.28
8	Corporation Bank	220550.55	140356.79	360907.34	2294.11	70.76
9	Dena Bank	113942.77	72574.62	186517.39	787.15	68.55
10	Indian bank	182509.00	132145.00	314654.00	480.00	82.10
11	Indian Overseas Bank	211342.63	140458.62	351801.25	2454.73	79.56
12	Oriental Bk of Comm	219339.39	157706.00	377045.39	346.17	58.68
13	Punjab & Sind Bank	85540.16	58334.53	143874.69	400.41	79.62
14	Punjab National Bank	621704.02	419493.15	1041197.17	425.59	65.01
15	Syndicate Bank	260547.95	199669.35	460217.30	904.54	72.92
16	UCO Bank	201284.51	119724.45	321008.96	1559.73	76.67
17	Union Bank of India	378391.58	286466.58	664858.16	687.44	63.44
18	United Bank of India	126939.25	66139.30	193078.55	1394.36	85.23
19	Vijaya Bank	133011.95	94548.88	227560.83	998.85	70.33
20	IDBI Bank	268538.10	190825.93	459364.03	2058.82	73.98
	TOTAL	5495970.79	3708473.58	9204444.37	21402.06

PERFORMANCE OF PUBLIC SECTOR BANKS 31. 3.2017

S.No.	Bank	Opr. Profit	Provisions	Net Profit
1	Allahabad Bank	3908.82	4472.00	-279.00
2	Andhra Bank	4387.95	4028.62	174.34
3	Bank of Baroda	12464.69	9440.35	1777.41
4	Bank of India	9823.97	12236.14	-2412.16
5	Bank of Maharastra	1827.07	3970.14	-1372.51
6	Canara Bank	9156.46	7410.18	1746.28
7	Central Bank of India	3089.00	5528.00	-2439.00
8	Corporation Bank	4446.31	3603.16	565.81
9	Dena Bank	1390.21	2665.57	-863.63
10	Indian bank	4006.70	2240.94	1412.91
11	Indian Overseas Bank	3650.21	7031.14	-3416.74
12	Oriental Bank of Commerce	4170.13	5693.31	-1094.07
13	Punjab & Sind Bank	1241.88	991.41	201.08
14	Punjab National Bank	14979.80	13439.71	1187.24
15	Syndicate Bank	4393.13	3581.27	517.45
16	UCO Bank	2926.08	4765.91	-1850.67
17	Union Bank of India	7430.09	7087.50	555.21
18	United Bank of India	1552.89	2467.10	219.51
19	Vijaya Bank	2421.15	1506.67	750.48
20	IDBI Bank	4709.99	13208.22	-5015.90
	TOTAL	101976.53	115367.34	217343.87

S.No.	Bank	Gross NPA	%	NPA Prov	Net NPA	%	Capital Adequacy
1	Allahabad Bank	20687.83	13.09	4552.37	13433.51	8.92	11.61
2	Andhra Bank	17669.98	12.25	3834.04	10354.81	7.57	12.38
3	Bank of Baroda	42718.70	10.46	7824.03	18080.18	4.72	12.24
4	Bank of India	52254.33	13.20	11802.05	25370.83	6.89	12.62
5	Bank of Maharastra	17188.71	16.93	3800.20	11229.56	11.76	11.18
6	Canara Bank	34406.74	9.66	7576.27	21738.61	6.34	12.96
7	Central Bank of India	27251.00	17.81	6537.00	14218.00	10.20	10.95
8	Corporation Bank	17045.22	11.70	3508.66	11692.18	8.33	11.32
9	Dena Bank	12618.73	16.27	2457.75	7735.12	10.66	11.39
10	Indian bank	9893.29	7.49	2096.32	5634.71	4.41	13.87
11	Indian Overseas Bank	35098.25	22.39	6948.00	19749.32	13.99	10.50
12	Oriental Bank of Comm	22859.27	13.73	6315.19	14117.83	8.96	11.64
13	Punjab & Sind Bank	6297.59	10.45	1106.33	4375.08	7.51	11.05
14	Punjab National Bank	55370.45	12.53	13580.39	32702.11	7.81	11.98
15	Syndicate Bank	17609.31	8.50	3545.00	10410.98	5.21	12.03
16	UCO Bank	22540.95	17.12	4414.68	10703.39	8.94	10.93
17	Union Bank of India	33712.28	11.17	6031.90	18832.10	6.57	11.79
18	United Bank of India	10951.99	15.53	2001.78	6591.85	10.02	11.14
19	Vijaya Bank	6381.78	6.59	1347.34	4118.16	4.36	12.73
20	IDBI Bank	44752.59	21.25	9379.13	25205.80	13.21	10.80
	TOTAL	507308.99		108658.43	286294.13

India ranks 116 out of 157 nations on SDG index

PTI|   Jul 13, 2017,  

UNITED NATIONS: India is ranked 116 out of 157 nations on a global index that assesses the performance of countries towards achieving the ambitious sustainable development goals (SDGs). 

The SDG Index and Dashboards Report produced by the Sustainable Development Solutions Network (SDSN) and the Bertelsmann Stiftung shows that world leaders need to strengthen their joint efforts to realise the 17 global goals. 

"Not only does a rising trend of nationalism and protectionism impede the implementation of the goals, but as the report shows, industrialised countries are not serving as role models," the report added. 

It said many of the richest countries in the world are nowhere near achieving the global policy objectives but also deteriorate the implementation process for poorer countries because of negative spillover effects. 

India is ranked 116th on the index with a score of 58.1, behind countries such as Nepal, Iran, Sri Lanka, Bhutan and China. Pakistan is ranked 122. 

The report said that the countries which are closest to fulfilling the goals are not the biggest economies but comparably small, developed countries. 

Sweden leads the list, followed by Denmark and Finland. Among the G7 countries, only Germany and France can be found among the top ten performers. The United States ranks 42nd on the Index, while Russia and China rank 62nd and 71st respectively. 

"One of the greatest obstacles to achieving the global goals for high-income countries are poor performances regarding sustainable consumption and production. All countries that score lowest on electronic-waste generation, for example, are high-income countries," it said. 

Bertelsmann Stiftung chairman and CEO Aart De Geus said the report's findings show that politicians, businesses and society altogether must urgently intensify their efforts and commit themselves to this agenda. 

"SDG Index and Dashboards highlight the need for urgent action on the part of G20 countries in making sustainable development a reality both within and beyond their borders. If the world is to achieve the SDGs, all countries must take up the goals as part of their national development strategies, and ensure that they take responsibility for their impact on the rest of the world," said Jeffrey D Sachs, Director of the SDSN. 

The SDG Index and Dashboard collect available data for 157 countries to assess where each country stands in 2017 with regard to achieving the SDGs. 
The SDG Index ranks countries based on their performance across the 17 Sustainable Development Goals.