1.A P Singh appointed interim head of India Post Payments Bank

  • The Union Government has appointed A P Singh as the interim Managing Director and CEO of India Post Payments Bank (IPPB), floated by the postal department.
  • He is a 1986 batch Indian Postal Service officer.
  • He was the joint secretary of the Department of Investment and Public Asset Management and has served as the deputy director general in-charge of financial inclusion and payment systems in the founding team of UIDAI.

2.Cabinet approves Udaan scheme till 2019–20

• Udaan provides exposure to the youth of Jammu and Kashmir to the best of corporate India .
 • 67 leading corporates have partnered with National Skill Development Corporation (NSDC) under Udaan with a commitment to train youth from the state covering Organized Retail, Banking, Financial Services, IT, ITES, Infrastructure, Hospitality etc.

3.Alibaba’s financial arm acquires MoneyGram

• “The acquisition of MoneyGram is a significant milestone in our mission to bring inclusive financial services to users around the world.”
 • Eric Jing, chief executive officer of Ant Financial Services Group in a statement last night.

4. Sebi cautions investors against unauthorised fundraising

• Sebi has cautioned investors against unlisted firms issuing securities without complying with the market norms.
 • It advised investors to ensure that the companies seeking to raise funds have filed offer documents or applications with stock exchanges for listing.

5. Metal prices to climb in 2017: World Bank

• “Metal prices are projected to increase by 11 per cent in 2017 due to tightening markets for most metals .
 • “The largest gains are expected in zinc (27 per cent) and lead (18 per cent) due to mine supply constraints brought on by permanent and discretionary closures.
 • Double-digit gains are also expected for copper, nickel, and tin.”

The post Banking Awareness 31st January 2017 | Financial Affairs 31st January 2017. appeared first on Exambin | Social Competitive Learning.

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