Economic News for IBPS PO EXAM 2012 (General Awareness ) Part-3

1. The government said gross non-performing assets (GNPAs) of nationalized banks stood at Rs 59,397 crore at the end of December 2011.

2. Moody's downgraded three top private sector banks 〞 ICICI Bank, HDFC Bank and Axis Bank 〞 on growing concerns over the country's sovereign debt ratings and low level of cross-border diversification of their operations. Moody’s also downgraded Life Insurance Corporation of India (LIC) following its recent investments in the oil and gas giant Oil and Natural Gas Corporation (ONGC).

3. Seoul-headquartered Woori Bank has set up its first Indian branch in Chennai.

4. IMF lowered India's growth projection to 6.9 per cent for 2012.

5. RBI has made it mandatory for all banks to print the MICR and IFSC code on the passbook and statement of account of the customers.

6. Reserve Bank asked banks not to levy any penalty on pre-payment of loans taken on floating rate

7. Record food grain production in India 2011-12 => 252.56 million tones Wheat production => 90.23 million tones Rice production=>103.41 million tones

8. The interest rate on the Employees' Provident Fund will be increased to 8.6 per cent from 8.25 per cent for the current fiscal.

9. RBI permitted RRB and cooperative bank to participate in Centralized Payment systems. Now these banks can transfer fund through NEFT and RTGS.

10. Foreign exchange reserves in India on March 2012 - $296 billion dollar

11. Centre launched a $2 billion infrastructure debt fund (IDF) to catalyse long-term lending to coresectors. The fund, which will be set up jointly by private sector lender ICICI Bank, Bank of Baroda, Citibank and Life Insurance Corporation of India (LIC)

12. Cheque and Draft will be valid for 3 month from 1 April 2012. 54. Tele density in India in December 2011 - 76.86% 55. After SBI and NABARD ownership of National Housing Bank (Now RBI hold 100% share) will be transferred from RBI to Government

Important Organization and Summit

1. New Member

a. United Nation - Total Member - 193 (Last member- South Sudan)

b. WTO - Total Member - 157 (Last member- Russia, Samoa, Montenegro)

c. World bank and International Monetary Fund - Total Member - 188 (Last member - South Sudan)

d. European Union - Total member - 27 (Next member will be Croatia in July 2013) the

2. 38 G 8 Meeting 2012 - David camp, USA (Last meeting 2011 - Deauville, France)

3. 7th G 20 Meeting 2012 - Los Cabos, Mexico (Last Meeting 2011 - Cannes, France)

4. 7th SAARC (South Asian Association for regional cooperation) Meeting 2011 - Addu, Maldives (Next Meeting 2012 - Nepal)

5. 20th ASEAN (Association of South East Asian Nation) Meeting 2012 - Phnom penh, Cambodia (Last Meeting 2011 - Bali, Indonesia)

6. 5th IBSA (India, Brazil and South Africa) summit 2011 - Pretoria, South Africa (Next Meeting 2012 -Brazil, and in 2013 - India)

7. 4th BRICS (Brazil, Russia, India, China and South Africa) summit 2012 - New Delhi (Next Meeting 2013 - South Africa)

8. 8th WTO (World Trade Nation) ministerial conference 2011 - Geneva, Switzerland

9. 23rd APEC (Asia pacific Economic cooperation) summit 2011 - Honolulu, USA (Next Meeting 2012 - Vladivostok, Russia)

10. 16th NAM (Non aligned Movement) summit 2012 - Tehran, Iran (Last meeting 2009 - Sharm el sheikh, Egypt)

11. SCO (Shanghai cooperation organization) Meeting 2011 - Astana, Kazakhstan (Next meeting 2012 - Beijing, China)

12. 5th OPEC (organization of Petroleum Exporting countries) International seminar 2012 - Vienna, Austria

13. NATO (North Atlantic treaty organization) international conference on Afghanistan will beheld in Chicago (USA)

14. 45th annual meeting of the board of governors of the Asian Development Bank (ADB) held in Manila (Philippines) attended by Pranab mukharji. Next will be in India in 2013.

15. Exercise ＆Shoor Veer conducted by the Army, came to an end in the Thar Desert.

16. United Nations framework convention on Climate - Durban (South Africa) in 2011

17. 10th BASIC Ministerial Meeting on Climate Change - New Delhi

18. Arab summit 2012 - Baghdad (Iraq)

19. Nuclear security summit 2012 - Seoul (South Korea)

20. 12th Annual summit of European Union and India - New Delhi

21. G-20 Finance Ministers and Central Bank Governors meeting - Mexico City

22. Friends of Syria Meeting - Istanbul (Turkey)

23. 5th Ministerial level India-UK Economic Financial Dialogue - New Delhi

24. United Nation Conference on Sustainable Development 2012 - Rio de janeiro (Brazil)

25. 17th National youth Festival - Mangalore (Karnataka)

26. World Economic Forum - Davos (Switzerland)

27. World Polio Summit 2012 - New Delhi Budget (2012-13) 1. Income tax: Category/Tax Rate General Ladies Senior citizen 60-80 year’s Senior citizen More than 80 years 2. 3. 4. 5. 6. 7. 8. 9.