Daily Current Affairs 14th June, 2017

Daily Current Affairs 14th June 2017

RBI places restrictions on banking activities of Central Bank of India

The Reserve Bank of India (RBI) has placed Central Bank of India under prompt corrective action which puts restricts on banking activities such as from lending, hiring and expanding branches.

  • The RBI has said that the PCA has been triggered in view of negative return on assets and high ratio of bad loans. So far, RBI has triggered PCAs for four banks – IDBI Bank, UCO Bank, Dena Bank and Indian Overseas Bank.
  • The PCA was initiated on Central Bank of India since it reported losses for two consecutive years, had negative return on assets and its share of bad loans has crossed 6%.

IDBI Bank only PSB to get ‘high’ rating for code compliance

According to the Code Compliance Rating of banks done by the Banking Codes and Standards Board of India (BCSBI) 2017, only one (IDBI Bank) out of 26 public sector banks and eight (nine in the previous survey) out of 17 private sector banks got ‘high’ rating for their adherence to code compliance.

  • IDBI Bank was the only public sector bank that got ‘high (H)’ (85 and above score out of 100) rating in two successive surveys.
  • The eight private sector banks that got ‘high’ rating are — Axis Bank, DCB Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, RBL Bank and YES Bank.
  • The three foreign banks — Citibank, HSBC and Standard Chartered Bank — that were surveyed got ‘high’ ranking.

Yes Bank partners with TerraPay for faster international remittance

Private sector lender Yes Bank has partnered with mobile payments switch TerraPay to enable real time money transfer to bank accounts in India. Powered by TerraPay’s global clearing and settlement service, the partnership will make it faster and convenient for consumers to send money to any bank account.

IRDAI takes over management of Sahara Life Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector.

  • K. Sharma, general manager, IRDA has been appointed as the administrator with “immediate effect” to manage Sahara India Life Insurance Company.

Cabinet approves interest subvention scheme for farmers

The Prime Minister Narendra Modi-led Cabinet has cleared the interest subvention scheme for farmers with an allotment of total expenditure of Rs. 20,339 crores in the current financial year as interest subsidy on short term crop loans.

  • The Cabinet has decided that the crop loans of up to Rs. 3 lakh will be made available to the prompt payee farmers at four percent interest rate only.
  • This decision by the Union Cabinet comes at a time when the farmers in various parts of India are protesting to get their farm loans waived, with Maharashtra and Madhya Pradesh taking the front on the issue.

India’s May wholesale price inflation fall to 2.17%

India’s annual rate of inflation based on wholesale prices decelerated further in May 2017 to 2.17 per cent from 3.85 per cent in April.

  • According to data from the Ministry of Commerce and Industry, the wholesale price index (WPI), with the revised base year of 2011-12, in May 2016 declined to 0.90 per cent.

Anuyatra campaign launched in Thiruvananthapuram

A group of differently-abled children who received special training in magic, have become brand ambassadors of Anuyatra, a campaign of the state government for persons with special needs

  • The innovative initiative which is launched at Thiruvananthapuram, Kerala is aimed at transforming the state to a disabled-friendly one and empower differently-abled children by bringing them to the forefront of the mainstream society.

Borrow a human for 30 minutes at Delhi’s first Human Library

The concept of ‘Human Library’ is about to make its way to Delhi on June 18  which will allow readers to borrow  real people and learn from their life experiences over a 30-minute meaningful conversation.

  • This unique concept allows you to borrow a ‘human book’, ask any number of questions to that would help dispel misconceptions, provide more information and provide participants with better knowledge of a subject or idea.
  • Delhi will be the fourth city to host the human library community in India after Indore, Hyderabad and Mumbai.The first Human Library event in India was held at Indore in 2016 at the IIM Indore campus.

DRDO successfully test fires anti-tank Nag missile in Rajasthan

The Defence Research and Development Organisation (DRDO) has successfully test fired anti-tank missile ‘Nag’ in a desert in the western sector of Rajasthan.

  • The “fire and forget” third generation anti-tank guided missile ‘Nag’ is equipped with the highly advanced Imaging Infrared Radar (IRR) seeker with integrated avionics, technology which is possessed by very few nations

Kuwait launches e-platform to educate migrant workers

Kuwait has launched an electronic platform in five languages to educate migrant workers on their legal rights.

  • The e-platform consists of a website and an application for mobiles that work mainly to address the ill-treatment suffered by the migrant workers, provide them legal support as well as to monitor and document the abuses they are subjected to.
  • Its languages will be Arabic, English, Hindi, Filipino and Urdu

Google ranked as the world’s most valuable brand in 2017

Technology giant Google has topped the 2017 BrandZ Top 100 Most Valuable Global Brands list, with a brand value of over $245 billion. Further, US tech giants Apple, Microsoft, and Facebook were also among the five most valuable brands.

Ex-Uttarakhand CM Pokhriyal authors book on Vajpayee ‘Yug Purush, Bharat Ratna, Atal Ji’

Former Uttarakhand Chief Minister Ramesh Pokhriyal ‘Nishank, has authored a 450-page book titled –‘Yug Purush, Bharat Ratna, Atal Ji’ whicjh was handed over to the President of India Shri Pranab Mukherjee.

Actress Anita Pallenberg passed away

World Blood Donor Day: 14 June

World Blood Donar Day is observed annually on 14th of June.

  • World Blood Donor Day 2017 theme: “What can you do? Give blood. Give now. Give often.”

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