1.The Unique Identification Authority of India (UIDAI) has temporarily barred Bharti Airtel and Airtel Payments Bank from conducting Aadhaar-based SIM verification of mobile customers using eKYC process as well as e-KYC of payments bank clients.The action follows allegations of Bharti Airtel using the Aadhaar-eKYC based SIM verification process to open payments bank accounts of its subscribers without their ‘informed consent’. UIDAI also took strong objection to allegations that such payments bank accounts are being linked to receive LPG subsidy.
2.Finance Minister Arun Jaitley said the government has undertaken the ambitious task of doubling farmers’ income by 2022 so that farming becomes sustainable.NABARD chairman H.K. Bhanwala said the mission of doubling farm income by 2022 will protect farmers from unpredictable Change.
3.Asian Development Bank (ADB) lowered India’s GDP forecast for the (2017-18) by 0.3 per cent to 6.7 per cent, attributing it to moderate growth in the first half, demonetisation and transitory challenges of tax sector reforms.It has also revised downward the gross domestic product (GDP) outlook for next (2018-19) beginning from March 2018 to 7.3 per cent from 7.4 per cent mainly due to rising global crude oil prices and soft growth in private sector investment.
4.Over 14 crore Permanent Account Numbers (PANs) have been linked with Aadhaar till now.With this, about 41% of PANs are now linked with Aadhaar numbers.There are about 33 crore PAN cards, while Aadhaar has been issued to about 115 crore people.
5.Deen Dayal Divyangjan Sashay Scheme Launched on: 3rd December 2017, on the International Day of Persons with Disabilities. Motive :To give an equal priority and reverence to the physically challenged persons and to inspire pride in the disabled persons Launched by: Vice President of India, Shri M Venkaiah Naidu
Venue: At Sorusajai Stadium in Guwahati, Assam Differently able people Known As: Divyanjans.
6.Blaming the previous UPA government for the current banking sector stress, Railway Minister Piyush Goyal said this government has fixed responsibility on big defaulters and banks are being strengthened through various measures. Goyal said gross advances by public sector banks jumped nearly seven-times in nine years from Rs 8.08 lakh crore in March 2005 to Rs 52.15 lakh crore by March 2014, however, the GDP didn't grow at a similar pace, meaning there was reckless and indiscriminate lending due to political pressures.
7.The Reserve Bank of India has imposed certain restrictions on Corporation Bank to carry out banking activities as its share of bad loans rose sharply. The government-owned bank said the RBI has triggered prompt corrective action (PCA) against it in view of high non-performing loans and requirement to raise capital. This makes Corporation Bank the eighth lender to face restrictions in a span of 10 months.
8.The Reserve Bank of India (RBI) has imposed Rs 3 crore penalty on IndusInd Bank for breaching rules on income classification norms. A statement issued by RBI said that the penalty was imposed after the regulator observed violation of various regulations issued by the RBI on non-performing loans and extension of non-fund based limits.
9.Bitcoin is the largest of cryptocurrencies, which are virtual tokens with no physical backing. They function on a technology called blockchain, which is nothing but a record of all transactions on a decentralised network of computers around the world. There is no central monetary authority for bitcoin, like the RBI for the rupee, and every computer that processes transactions and creates bitcoins is part of the network and all these computers work together.
10.The Reserve Bank of India (RBI) will open an office in the north-eastern state of Arunachal Pradesh. Surekha Marandi, Executive Director (ED) of Reserve Bank of India called on Chief Minister Pema Khandu at Itanagar. Marandi heads the consumer education and protection department, financial inclusion and development department. Marandi informed the Chief Minister that the RBI has resolved to open an office in Arunachal Pradesh, preferably.
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