1) RBI
issued final norms for payment, small banks: Telcos, supermarkets, and even
companies that run electronic wallets (or other prepaid instruments) can open
so-called payments banks in the country, with the Reserve Bank of India (RBI)
releasing rules for such entities. The move is aimed at providing basic
savings, deposit, payment, and remittance services to people who currently do
not have a bank account, including millions of migrant workers. Fifty per cent
of Indians don’t have bank accounts. The central bank also released rules for
small banks, which will provide loans to small businesses and marginal farmers.
Payments bank will initially be restricted to holding a maximum balance of
Rs.1,00,000 per individual customer. They can offer payments and remittance
services and issue ATM/debit cards, but not credit cards. Such entities can
also distribute simple financial products such as mutual fund units and
insurance products, said RBI.
2) Australian
cricketer Phil Hughes died of injuries: Australian cricketer Phillip Hughes
died in hospital in Sydney on 27 November 2014, two days after the
international batsman as struck on the head by a ball during a domestic match.
Governing body Cricket Australia (CA) confirmed the 25-year-old had lost his
fight for life, casting a pall over a cricket-mad nation which is co-hosting
the World Cup early next year.
3) 18th
Saarc Summit concluded with one pact, several understandings: The 18th
South Asian Association for Regional Cooperation (Saarc) Summit concluded in
Kathmandu on Thursday with the adoption of a 36-point Kathmandu Declaration.
During the Summit, a Saarc Framework Agreement on Energy Cooperation was signed
while leaders of the South Asian nations directed their respective ministers to
hold a meeting within three months to finalise the Saarc Motor Vehicles
Agreement for the Regulation of Passenger and Cargo Vehicular Traffic, and the
Saarc Regional Agreement on Railways. The summit adopted the Kathmandu
Declaration with the theme of "Deeper Integration for Peace and
Prosperity" to deepen cooperation in core areas of trade, investment,
finance, energy, infrastructure and connectivity. The next SAARC summit will be
held in Islamabad in 2015.
4) India
launched e-visa facility for 43 nations: In a move which will give a major
boost to the tourism sector, the Government on 27 November 2014 launched the
much-awaited electronic visa facility for visitors from 43 countries including
US, Germany and Israel. "We want to promote tourism in the country in a
big way. The contribution of tourism in the GDP is approximately 7 per cent and
we want to double it up," Home Minister Rajnath Singh said here after
launching the e-visa facility. Now, a visitor from these countries will just
have to apply for an e-visa on the designated website and pay the fee online to
get an electronic travel authorisation (ETA) within 72 hours. E-visa will be
valid for 30 days and a tourist can avail the facility twice a year. With the
launch, the e-visa facility has become operational at nine international
airports - Delhi, Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru, Kochi,
Thiruvananthapuram and Goa.
5) Scrap
Chennai Super Kings, observes apex court: The Supreme Court on Thursday
said Chennai Super Kings should be thrown out of the IPL without any further
probe, virtually putting a question mark on the cash-rich league already
battling allegations of betting and spot fixing.
6) Boxer
Manoj Kumar finally received Arjuna Award: Boxer Manoj Kumar received his
Arjuna Award from Sports Minister Sarbananda Sonowal after winning a High Court
case. The Kapil Dev-led award committee had earlier refused to give the coveted
award to the 2010 Commonwealth Games gold medallist. Angry with the
government's decision not to give him the award, Manoj had filed a case in the
Delhi High Court. The Sports Ministry then admitted that they had mixed his
name up with another junior boxer, also named Manoj Kumar, who was not
considered for the Award because of doping allegations in a junior tournament.
7) PNB
announced free ATM usage for customers: Punjab National Bank (PNB) on 26
Nov 2014 said it will continue giving free transactions to all saving bank
account cardholders using PNB ATMs, irrespective of the number of transactions.
The Reserve Bank of India (RBI) had advised that atleast five free transactions
(inclusive of financial and non-financial transaction) per month should be
permitted to the savings bank account holders for use of own bank ATMs.
