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General Awareness with reference to Banking and Finance Business - 25/02/2016

Pay hike unlikely to destabilise prices: Survey

The hike in wages under the Seventh Pay Commission is unlikely to destabilise prices and will have little impact on inflation, the Economic Survey said today.
Govt takes steps to facilitate 'exit' for failed ventures
Likening the Indian economy in the 21st century to the Charkravyuha legend of the Mahabharata - the ability to enter but not exit - the Economic Survey 2015-16 today cautioned that the country is facing adverse consequences due to the lack of a way out for failed ventures.
Select base metals up on global cues, spot demand
Tracking a firm global trend, select base metal prices rose up to Rs 3 per kg at the non-ferrous metals market today.
SFIO asked to probe fraud by 258 companies in last 4-yr: Govt
Serious Fraud Investigation Office (SFIO) has been ordered to probe alleged fraud in 258 companies in the last four years, Parliament was informed today.
Govt's LED drive to save over Rs 45,000 crore
Government''s plan to change 77 crore conventional bulbs and 3.5 crore conventional street lights with LED range would save Rs 45,500 crore by reducing 21,500 MW electricity demand, said the Economic Survey 2015-16.
Reliance Industries tops CSR spending chart: Govt
Reliance Industries has emerged as the top company in terms of corporate social responsibility (CSR), having spend over Rs 760 crore, followed by state-owned ONGC and IT giant Infosys, Parliament was informed today.
"FTAs have pushed up imports more than exports"
Free trade agreements which India has implemented so far have pushed up imports more than the country''s exports, the Economic Survey 2015-16 said today.
Survey calls for big changes in agri-sector
Stating that Indian agriculture has become a "victim" of its own success, the Economic Survey has favoured the use of hybrid and GM seeds along with better MSP, irrigation and national market facilities to boost crop yields and for bringing in major transformation in the sector.
Gold up on firm global cues, jewellers buying
Gold rose marginally by Rs 5 to Rs 29,290 per 10 grams, rising for the third straight day at the bullion market today, tracking a firming global trend amid scattered buying by jewellers.
Resolution in US House to block sale of F16s to Pak
From Lalit K Jha Washington, Feb 26 (PTI) A joint resolution to block the sale of eight nuclear-capable F-16 fighter jets to Pakistan has been introduced in the US House of Representatives, even as Secretary of State John Kerry today defended the move, saying it is critical for Pakistan''s fight against terrorism.
Indian markets resilient despite global volatility:  Survey
Indian stocks are relatively resilient despite volatility in worldwide financial markets and the country can be a leading investment destination going ahead, Eco Survey .
USL appoints M K Sharma as new chairman
The Diageo-controlled United Spirits (USL) today announced the appointment of M K Sharma as its new chairman, a day after the embattled liquor baron Vijay Mallya resigned from the post.
India attracting more and more technologists, expert
From Gurdip Singh Singapore, India is more attractive than the other emerging markets for international technology groups, given the huge growth potential of domestic demand, a senior security industry official said today.
US judge gives VW a month to present diesel fix plan
A US judge has given Volkswagen one month to present a plan to fix diesel engine cars secretly outfitted with pollution cheat devices.
Oil falls after output cap hopes drive rally
Oil prices dipped in Asia today as traders took profits from a recent rally, driven by hopes major producers could agree to limit their output in a meeting next month.
'India should become top tourist place for Singaporeans'
India should become number one destination for Singapore tourists, given the number of airlines flying between the two countries, the Indian envoy has said.
Apple asks judge to vacate order on locked iPhone
Apple Inc has asked a federal magistrate to reverse her order that the company help the FBI hack into a locked iPhone, accusing the federal government of seeking "dangerous power" through the courts and of promoting a "boundless" interpretation of the law.
German govt approves loan proposal for KMRL proj
The German government has given its nod for a loan proposal relating to Kochi Metro Rail Limited''s (KMRL) Rs 741 crore-project to create an integrated water transport system in and around the coastal city.
Google CEO meets with EU anti-trust chief
Google chief executive Sundar Pichai met with the European Union''s top anti-trust official Margrethe Vestager today in an effort to narrow differences ahead of a landmark competition decision on the company.

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