Banking, Financial and Economic Awareness
1. Google's CEO Sundar Pichai will also be CEO of Google's parent company, Alphabet
- He became Google's CEO in 2015.
- Larry Page and Sergey Brin will resign as CEO and president of Alphabet.
- They will remain on its board of directors.
- Alphabet Inc.:
- Google was restructured into Alphabet on October 2, 2015.
- Subsidiaries: Google, Calico, X, DoubleClick, Waymo, Verily.
- Founders: Larry Page, Sergey Brin
- Headquarters: Mountain View, California
2. Personal Data Protection Bill approved by the cabinet
- Personal Data Protection Bill has been approved by the Cabinet for the introduction in the Parliament.
- The bill classifies personal data into sensitive and general data.
- Though public and private entities outside India cannot store sensitive data, they can process sensitive data after getting the consent of persons concerned.
- The bill permits storing and processing of general data even outside India.
- In cases of major violations, the bill provides penalty up to ?15 crore or 4% of global turnover. The bill requires the company/agency/person to pay higher of these amounts.
- The data can be processed without consent for security purposes and investigative offences.
3. Bharat Bond ETF, first debt exchange-traded fund of India likely to be started this month
- Bharat Bond Exchange Traded Fund (ETF) is going to be the first corporate Bond ETF in India.
- It will include a bond provided by
- Central Public Sector Undertakings (CPSUs
- Central Public Sector Enterprises (CPSEs),
- Central Public Financial Institutions (CPFIs) or
- other Government organizations
- Features of Bharat Bond ETF:
- Small unit size of Rs 1,000, low cost of 0.0005 percent and exchange tradable.
- Transparent Net Asset Value (NAV) and daily disclosure of the portfolio on the website (transparent portfolio).
- Fixed maturity date
4. SBI launches Atoot scheme
- It aims to provide financial and non-financial support to the family of its employees who die before retirement.
- It will cover all regular employees of SBI, including contractual and suspended employees.
- It will not cover retired employees, retired officers hired on contract, and outsourced employees.
- State Bank of India (SBI):
- It was formed in 1955 from Imperial Bank of India
- Chairperson: Rajnish Kumar
- Headquarters: Mumbai
- Tagline: The Banker to Every Indian