Banking Current Affairs 2018

Welcome to Banking Current Affairs 2018 Section of GKToday. This section has current affairs on banking industry for IBPS Banking Recruitment, RBI Grade B, SBI PO, RRB and other banking examinations. An E-book compilation of latest 300 Banking Current Updates can be downloaded from This Link

NPCI allows Whatsapp to beta test its payments service with limited users

The National Payments Corporation of India (NPCI) has allowed Facebook-owned WhatsApp to beta test its BHIM UPI beta payments service with limited user base of 1 million and low transaction limit.  Four banks will join social messaging app’s BHIM UPI model in phases and full feature product will be released after beta test is successful.

Key Facts

The multi-bank model will offer advantages such as transaction load distribution between banks and helps to integrate popular apps easily with BHIM UPI. The inter-operability will allow to send and receive money through any BHIM UPI ID, intent and collect call and read and generate BHIM/Bharat QR code that are required in final BHIM UPI app.

National Payments Corporation of India (NPCI)

NPCI is the umbrella organisation for all retail payments system in India. It is being promoted the Reserve Bank of India. It was founded in 2008 as a not-for-profit organisation registered under section 25 of the Companies Act, 2013. It has successfully played pioneering role in development of a domestic card payment network called RuPay, reducing the dependency on international card schemes.

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CriSidEx: CRISIL, SIDBI launches India’s first MSE Sentiment Index

The SIDBI (Small Industries Development Bank of India) and ratings agency Crisil have launched CriSidEx, India’s first MSE Sentiment Index for micro, small and medium enterprises (MSMEs). The index will help to indicate the current state and expected outlook on the MSME sector every quarter.

CriSidEx

CRISIL-SIDBI MSE Sentiment Index (or CriSidEx) has been developed jointly by CRISIL and SIDBI. It is a composite index based on diffusion index of 8 parameters. It measures MSE business sentiment on a scale of 0 (extremely negative) to 200 (extremely positive).

The parametric feedback for the index will be captured through a survey of 1100 MSEs. CriSidEx will have 2 indices, one for ‘survey quarter’ and another for ‘next quarter’. Once trend emerges after few rounds of survey, it will provide independent time series data.

Significance of index

  • Provide crucial insights into employment, business environment and foreign trade in MSME sector.
  • Allow policy makers to take timely proactive steps, including those based on early warnings thrown up by survey of index.
  • Provide intelligence and insights for regulators, trade bodies, lenders as well as economic and financial analysts.
  • Help in forecasting business environment by capturing sentiment on various business parameters such as business situation, capacity utilisation, order book and margins.
  • Flag potential headwinds and changes in production cycles in MSME sector and thus help in improving market efficiencies.

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