Current Affairs For Bank, IBPS Exams - 18 August, 2015

Current Affairs for BANK, IBPS Exams

To check money laundering through stock markets, top stock exchange BSE has asked its members to report on a monthly basis details of the STRs (Suspicious Transaction Reports) submitted to the government's Financial Intelligence Unit (FIU).
Asking the members to ensure compliance at the earliest, the exchange said in a circular that the trading members are required to submit the data through a specific FIU-STR module of the online gateway BSE Electronic Filing System (BEFS).
The members have been asked to provide details of their registration with the FIU, as also the information about the principal officer and the designated directors for the PMLA (Prevention of Money Laundering Act) compliance.
BSE has also asked members to report the cumulative number of STRs filed with the FIU as on March 31, 2015. Thereafter, the members would need to report the number of STRs filed with FIU on a monthly basis.
The regulators and the financial intelligence agencies have enhanced their vigil in the recent months on entities trying to misuse the stock market platform for possible laundering of black money and to evade taxes.
Nearly 950 entities have already been barred by Sebi for such attempts, while further action is underway against them.

Country’s largest lender State Bank of India on Tuesday launched a mobile wallet app, SBI Buddy, in collaboration with Accenture and Mastercard.
The service will be available to existing as well as non-SBI customers.
The app was launched by Finance Minister Arun Jaitley along with Jayant Sinha, Minister of State for Finance and Hasmukh Adhia, Secretary, Department of Financial Services.
The mobile wallet app can be used to send money to new and registered customers, book for movies, flights, hotels as well as for shopping.
It also has features like reminders to settle dues, recharge and pay bills instantly.
The app is available on Google Play Store, at present, and soon will be launched on Apple App Store.

State Bank of India also launched SBI Foundation, which will be the implementing agency for corporate social responsibility (CSR) activities of the lender.
The Finance Minister unveiled the logo and website of SBI Foundation.
The foundation will promote, encourage, develop causes related to education, environment, women empowerment, children welfare and manage all the CSR activities of the SBI Group.