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Current Affairs of 24 June 2018

Keshav Kishore, Published On:24-Jun-2018

 1.     Arjit Basu is the new MD of SBI

·    Arijit Basu has been selected by the appointment committee as the new Managing Director of State Bank of India (SBI).

·    Mr. Basu is currently heading the corporate accounts group as the deputy MD.

·    The managing director of SBI B Sriram will be MD and CEO of IDBI bank.

    

2.        Third annual AIIB meeting in Mumbai

·     PM Nartendra Modi will inaugurate the 3rd Annual Meeting-2018 in Mumbai.

·  The theme of this meeting is “Mobilizing Finance for Infrastructure: Innovation and Collaboration”.

· The mmeting will be hosted by Department of Economic Affairs and Asian Infrastructure Investment Bank (AIIB) on June 25-26.

 · AIIB is an infrastructure development bank with a mission to improve socio-economic standards and it is headquartered in Beijing, China.  

 

3.         Bharat-22 Exchange Traded Fund

·       Union government had launched the follow-on fund offer of Exchange Traded Fund (ETF) Bharat-22 which is managed by ICICI Prudential Mutual Fund.

·     In the second tranche of Bharat-22 ETF government earned Rs. 140 billion.

·     In this transaction government gained 2.3 times of its projection which was Rs. 6000 crore.

 

4.        Important Abbreviations

·     BIS: Bureau of Indian Standards

·    EMI: Equated Monthly Installments

·    BARC: Bhaba Atomic Research Center

·    DRT: Debt Recovery Tribunals

·    FINO: Financial Inclusion Network Operation

·    ASBA: Account Supported by Blocked Amount

·    SWIFT: Society for Worldwide Interbank Financial Telecommunication

 

Source: The Hindu, The Indian Express, PIB

 

 

 

 






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