gk4banking: General Knowledge for SBI Associates IBPS RRB Bank Clerk PO Exams

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Tuesday, March 6, 2012

Acquaint these people

The new Chairman and Managing Director of Oriental Bank of Commerce – Mr. S.L Bansal

The new CMD of Syndicate Bank – M.G Sanghvi

Terms of the day

BFSI – Banking and Finance Service Insurance

ARCIL – Asset Reconstruction Company of India Limited

BRAI – Biotechnology Regulatory Authority of India

NTB – Non Tariff Barriers

APA – Advance Pricing Agreement

CPSE - Central Public Sector Undertakings
LTRO - Long Term Refinancing Operation

China to increase its defence budget

China has announced it will increase defence spending by 11.2 per cent in 2012, for the first time taking its annual military expenditure beyond $100 billion. China’s spending in 2012 will exceed what India spent last year by three times. India’s defence expenditure was reported at $36 billion in the 2011-12 budget.

Cabinet Committee okays proposals for PSU buyback scheme

In a bid to give boost to its attempts to meet the divestment targets, the government has decided to allow public sector companies to buy back their shares just like any other private company. The Cabinet Committee on Economic Affairs (CCEA) in its meeting, approved a proposal to enable the Department of Disinvestment to “respond to normal practices in the corporate world if proposed by a Central Public Sector Undertakings (CPSE).”

12th Plan to create 10 million more seats in higher education

An additional capacity of 10 million seats will be created in higher education during the 12^th Plan which will commence from April 1, according to Dr. Narendra Jadav, Member, Planning Commission.

Global poverty on the decline: World Bank

The rate of poverty based on the number of people living on less than $1.5 a day, declined across the developing world between 2005 and 2008, according to a World Bank report. Around 1.29 billion people lived below the defined poverty line in 2008, which was equivalent to 22 per cent of the population of the developing world. The updated figures were available from surveys carried out in nearly 130 countries.