Daily Current Affairs 20 December 2017 for Banking/Insurance/SSC and other related exams.
PM announces relief package for Cyclone Ockhi affected states
Prime Minister Narendra Modi visited Ockhi affected Lakshwadeep, Tamil Nadu and Kerala to take stock of situation, and met affected people. There he announces a relief package of Rs 325 crore for all 3 states and ex-gratia assistance of Rs. 2 lakh to the next of kin of the deceased.
Skill Ministry, Maruti Suzuki sign pact to train youth
The skill development ministry and Maruti Suzuki have signed an agreement to impart training to youth and enhance their employment potential. The automobile manufacturer will ensure eligible trainees take up apprenticeship / higher education in suitable streams and shall also guide the students to become entrepreneurs.
Centre finally gives ‘green’ nod for Kaleshwaram project with riders
Telangana government’s prestigious Kaleshwaram Lift Irrigation Scheme (KLIS) has finally get the green nod. The green nod for the project will be a big boost to the state government. However, the Centre has put some conditions before granting the clearance.
India’s dirst design university ‘World University of Design’ opens campus
India’s first and only design university, World University of Design opened it campus at Sonipat, Haryana. The campus is situated on NH1 in Rajiv Gandhi Education City (NCR), Sonipat, the largest planned integrated city for education in India.
- WUD is India’s first university dedicated to education in the creative domain; WUD underlines the movement of design from being purely vocation-oriented to becoming academic-oriented; and from certificate & diploma stage to degree, postgraduate degrees, research and doctoral programmes.
France passes law to ban all oil and gas production by 2040
France’s parliament has approved a law banning all exploration and production of oil and natural gas by 2040 within the country and its overseas territories.
- Under that law, existing drilling permits will not be renewed and no new exploration licenses will be granted.
- The French government claims the ban is a world first.
BANKING & FINANCE
India, World Bank sign financing agreement for skill enhancement project
A financing agreement for IDA Credit worth USD 125 million (equivalent) for the “Skills Strengthening for Industrial Value Enhancement Operation (STRIVE) Project” was signed by the Government of India and the World Bank.
- The objective of the operation is to improve access to quality and market-driven vocational training provided in it is and apprenticeships.
RBI places Bank of India under PCA framework
The Reserve Bank of India (RBI) has initiated “prompt corrective action” (PCA) measures against state-run lender Bank of India in the view of its high non-performing assets (NPAs).
- Last week, PCA was initiated against state-run lender Corporation Bank. In the past, RBI has placed restrictions on seven banks which include Oriental Bank of Commerce, Dena Bank, Central Bank of India, IDBI Bank, Indian Overseas Bank, Bank of Maharashtra and UCO Bank.
RBI puts United Bank of India on corrective action plan
With Bank of India, RBI has also put United Bank of India on corrective action plan. This is the second time in four years that UBI came under regulatory sanctions and be forced to take corrective measures for strains in financials. Last time UBI was put under PCA was in 2013.
- UBI is the 10th bank to be put under PCA in a span of 10 months.
Airtel board nod to Tata Tele mobile business takeover
Bharti Airtel and Tata in October announced they have entered into an understanding to merge Consumer Mobile Businesses (CMB) of Tata Teleservices Ltd (TTSL) and Tata Teleservices Maharashtra Ltd (TTML) into Bharti Airtel. Now they have approved the takeover of consumer mobile business of Tata Teleservices.
CCI clears IndusInd Bank-Bharat Financial merger
Fair trade regulator CCI has approved the scheme of amalgamation between IndusInd Bank and Bharat Financial Inclusion.
- IndusInd Bank in October decided to acquire country’s leading microfinance player Bharat Financial Inclusion Ltd (BFIL).
21-year-old Shree Saini crowned Miss India USA 2017
Shree Saini, a resident of Washington state, was crowned Miss India USA 2017. The 21-year-old, who is a student at the University of Washington, said she wants to lead a life dedicated to service.