Banking Current Affairs - 2019

Category Wise PDF Compilations available at This Link

Internet Facility for Post Office Savings Bank Customers Launched

India Post has started internet facility of the customers of Post office savings bank account. The facility was launched by Union Minister for Communication (independent charge) Manoj Sinha at National Media Centre, New Delhi. Revamped version of Indian Post website and e-commerce portal for rural artisans were also launched at event.

Facilities available to Customers

  • Customers can transfer funds online from one Post office Saving Bank Account to other.
  • E-Commerce portal provide an online market to rural artisans and Public Sector Units where they can sell their products.
  • Indian Post Service provide a vast network for delivery of products over 1.5 lakh places.
  • Speed post service will deliver the products to the destination.
  • The online market provides return policy to the customers.
  • The Department of Post provides registration of sellers free of cost for the first six months.

India Post

India Post a central postal system of was founded on 1st April 1854. It works under the Ministry of Communication of the Government of India. The postal system of India is one of the widely distributed networks in the world. India is divided into 23 postal circles headed by Chief Postmaster. Indian Post providing its services in Philately, Army Postal Service, Electronic Indian Postal Order, Postal Life Insurance, Postal Savings, Banking, Data collection, e-commerce, and Railways. Postage stamps are PIN codes are used to identify the location for post.

Postal Stamps

Stamps are used for postage and for services. There are variety of stamps produced in India with different themes. The first stamp in Asia were issued in India in July 1852 by Bartle Frere.

PIN codes

Postal Index Number is a 6-digit code of post office introduced on 15th August 1972. Out of total 9 PIN regions, eight PIN denoted geographical regions and one is reserved for Army Postal Service.

Month: Categories: Business, Economy & Banking

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Shaktikanta Das: 25th Governor of RBI

  1. India’s former economic affairs secretary and current member of the Finance Commission Shaktikanta Das is to be appointed as next RBI Governor. He will be the 25th Governor of the apex bank of the country.

About  Shaktikanta Das

  • Shaktikanta Das is a 1980 batch IAS officer of Tamil Nadu Cadre and a very prominent bureaucrat who served under both NDA and UPA governments.
  • He served as economic affairs secretary from 2015 to 2017; and was key official in both big economic moves of the government viz. demonetisation and implementation of GST.
  • Appointment committee of cabinet approved Shaktikanta Das appointment as RBI governor. He will serve as governor for the term of three years.

Background

After the resignation of Urijit patel, Shaktikanta Das has been appointed as 25th governor of RBI. Urijit Patel resigned due to personal reasons. His tenure as RBI governor was about to complete in September 2019. Patel has become fourth RBI to step down before end of term. Before him, Sir Osborne Smith, Benegal Rama Rau and S Jagannathan had resigned before completion of their respective tenures.

Month: Categories: Business, Economy & Banking

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