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Banking Current Affairs : 1st May 2024

Today’s Current Affairs: 1st May 2024 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

Securities Appellate Tribunal Presiding Officer:

  • Justice (retired) Dinesh Kumar took charge as the Presiding Officer of the Securities Appellate Tribunal (SAT) on 29 April 2024.
  • The government of India appointed Justice Dinesh Kumar for a four-year term.

International Labour Day 2024 Celebrated on 1st May:

  • International Labour Day, also known as May Day or Workers’ Day, is celebrated on Wednesday, May 1st, every year
  • This annual observance honours the contributions and achievements of workers worldwide and promotes their rights and opportunities

DoPPW launched Integrated Pensioners Portal of Bank of India:

  • The Department of Pension and Pensioners Welfare(DoPPW) under the Ministry of Personnel, Public Grievances & Pensions, launched the “Integrated Pensioners Portal of Bank of India”.
  • This is in line with the efforts of DoPPW to integrate the Pension Portals of all 17 Pension Disbursing Banks with the Integrated Pensioners’ Portal of DoPPW to ensure Ease of Living of Pensioners.

RBI Kept FPI Investment Limit in G-Sec Unchanged at 6% of Outstanding Stock For FY25:

  • The Reserve Bank of India (RBI) announced that the investment limit by Foreign Portfolio Investors(FPI) in Government Securities(G-Sec) will remain unchanged at 6% of outstanding security stocks for FY25(2024-25).
  • The FPI limits for investment in the state government securities (SGSs) and corporate bonds are maintained at 2% and 15% respectively, of outstanding security stocks for FY25.
  • As of now, all investments by eligible investors in the ‘specified securities’ will be considered under the Fully Accessible Route(FAR).

RBI Directs Talkcharge to Stop PPI, Wallet Issuance & Refund Balances:

  • The Reserve Bank of India (RBI) has directed to Gurugram(Haryana)-based fintech firm Talkcharge Technologies Private Limited(Talkcharge) to stop the issuance and operations of its Prepaid Payment Instruments(PPIs) or wallets and refund the balances held in the wallets within 45 days (by May 17, 2024).

Cred Launches Offline QR Code-based ‘Scan and Pay’ Service:

  • Fintech company Cred has launched an offline Unified Payments Interface (UPI)-based ‘Scan and Pay’ service that enables users to scan QR codes for payments directly from their bank accounts.
  • Cred aims to encourage its users to use the app to scan QR codes at high-end retail stores such as supermarkets, restaurants, beauty salons, fashion outlets, etc.
  • Merchants dealing with substantial transaction values, often credit card-based, are the primary target.

NIPFP projects India’s FY25 GDP growth at 7.1-7.4%:

  • The National Institute of Public Finance and Policy (NIPFP) released its ‘FY 2023-24: Year End Macroeconomic Review’ during a seminar at its campus in New Delhi
  • It has estimated India’s Gross Domestic Product (GDP) growth at 7.1-7.4% for FY25 (2024-25), using high-frequency models.
  • This economic growth will be driven by high Capital Expenditure (Capex) and Government investment in Public Goods.

India Wins 8 Medals in 2024 Archery World Cup Stage 1 :

  • India topped the medal tally with 8 medals(5 Golds, 2 Silver,1 Bronze) at the 2024 Hyundai Archery World Cup Stage 1 held in Shanghai, China from 23rd to 28th April 2024.
  • South Korea and Spain finished 2nd and 3rd with 7 medals and 2 medals, respectively.