Daily Current Affairs 22 April 2022 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
Rajasthan Becomes First State to Install L-Route Server
Rajasthan has become the first state in the country to install L-Route server for uninterrupted internet services. The move forms a part of Chief Minister Ashok Gehlot’s initiative to promote e-governance.
- This server, installed at Bhamashah State Data Center, has been installed by the government in association with the Internet Corporation for Assigned Names and Numbers (ICANN).
- With this initiative, along with the general public in the state, the industry will no longer have to face any disruption. With this ICANN root server, Rajasthan is no longer dependent on any root server for the Domain Name System.
INS Vagsheer, the last of six indigenously made Scorpene class submarines, launched by Navy
India’s indigenous manufacturing of conventional submarines reached the final leg with the last of the six Scorpene class submarines being manufactured as part of Project 75 (P-75) sliding into the waters. A decision on the next six advanced indigenous submarines is awaited.
- Dr Ajay Kumar, Defence Secretary, was the chief guest at the ceremony and the submarine named ‘Vagsheer’ was launched by Mrs Veena Ajay Kumar, in keeping with naval traditions of launch/naming by a lady.
INTERNATIONAL NEWS
India will give another $500 million in fuel aid: Sri Lanka foreign minister
India will give Sri Lanka an additional $500 million in financial assistance to buy fuel, the troubled island nation’s foreign minister told reporters, adding that Bangladesh was also willing to postpone $450 million in swap repayments to ease Colombo’s burden.
- This will be the second $500 million India has provided in fuel credit to a Sri Lanka government battling the country’s worst financial crisis in living memory.
- The first line of credit was used up earlier this month after a shipment of 120,000 tons of diesel and 40,000 tons of petrol.
- So far India has provided nearly 400,000 tons of fuel.
BANKING & FINANCE
RBI caps lending limits of NBFCs to bring them on a par with those of banks
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks.
- In the large exposure framework, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20% of capital base. The limit can only be extended by another 5% with board’s approval. For a particular borrower group, the cap is at 25%, with additional 10% if exposure is towards infrastructure.
- However, NBFCs which are into infrastructure finance can have exposure of 25 per cent, with an option of additional 5 per cent of Tier I capital to a single counterparty. For a group of connected counterparties, infrastructure companies can have an exposure of 35 per cent of Tier-I capital.
- These norms will come into effect from October 1, 2022.
BUSINESS & ECONOMY
IFSCA signs a Memorandum of Understanding with the NIA
The International Financial Services Centres Authority (IFSCA) has signed a Memorandum of Understanding (MOU) with the National Insurance Academy with the goal of creating capacity and establishing a qualified talent pool in the insurance sector in International Financial Services Centres.
APPOINTMENTS
P&G India appoints LV Vaidyanathan as new CEO
Procter & Gamble India appointed LV Vaidyanathan, who leads the company’s business in Indonesia, as the new chief executive officer. He takes over from Madhusudan Gopalan who will move into a new role at the parent company. Vaidyanathan takes over as the CEO from July 1, 2022.
Lieutenant General Manoj Kumar Katiyar appointed as next Director General of Military Operations
Lieutenant General Manoj Kumar Katiyar has been appointed as the next Director General of Military Operations. He would take charge of the new office on May 1st.
- Prior to this, he was working as the General Officer Commanding of 1 Corps – a strike formation meant to undertake operations against both Pakistan and China.
Indian-American Shanti Sethi appointed Kamala Harris’ defence adviser
Shanti Sethi, a trailblazing Indian-American Navy veteran, has joined US Vice-President Kamala Harris’s office as her executive secretary and defence adviser.
- Sethi commanded the guided-missile destroyer, USS Decatur, from December 2010 to May 2012. She was also the first female commander of a US naval vessel to visit India.
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