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NEWS OF THE WEEK

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1) RBI says 92%of the deposit accounts are covered thus enabling strong banks to pay lower insurance premium

2) State bank of Travancore employee union (SBTEU) has urged the centre not to go ahead with the decision to merge SBT and other associate banks with SBI . It also wants the RBI and the SEBI to intervenen in the matter

3) Reserve Bank Of India workers and employees have decided to join the september 2nd nationwide day long strike called  by the central trade unions.It is to protest against the "Unilateral labour reforms and anti worker policy "

4)Raghuram Rajan gives a parting gift ,turns smartphones into banks with Unified Payment Interface and make India a step closer to becoming a cashless economy.

5)Shiv Raj Chauhan in US to woo investors says Madhya Pradesh 'IDEAL' for investment.He said that the state government focuses on a' single table' concept in place of ' single window' were policy matters and hurdles to investments are discussed .

6) Morgan Stanely sees 40 million user of Reliance Jio by next fiscal, states ' we believe reliance jio would add 40 million subscribers in 2017 -2018 ,at an average revenue of Rs 300 per user"

7) Indian Inc foreign borrowing down 44 % at $ 1.2 billion in July this year against $ 2.14 Billion in the same period a year ago. The Indian firms raised $ 183.7 million via approval route while rest $ 1.02 million was raised by the way of automatic channel , showed Reserved Banks data released this august

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