Daily Current Affairs 25 March 2020 for Banking/Insurance/SSC and other related exams.
AB-PMJAY now includes treatment package for coronavirus
In a sigh of relief to patients suffering from coronavirus, the National Health Authority has decided to introduce a package for its treatment under the Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana Scheme (AB-PMJA) insurance programme.
- Now eligible beneficiaries of Ayushman Bharat- PMJAY can avail free of cost treatment for influenza-like illnesses. For COVID-19 testing and treatment is available free-of-cost at government-designated testing centers and public hospitals for all
IIT-Madras to host India’s first Global Hyperloop Pod Competition
Indian Institute of Technology Madras is organising India’s first Global Hyperloop Pod Competition to increase awareness and enthusiasm about Hyperloop in India.
- The competition is open globally and the final round will take place in the IIT Madras campus in July 2020
- The objective of the competition is to encourage student teams in India and abroad to develop a Hyperloop Pod and compete to build the fastest, most innovative and efficient design and prototype of the relevant technologies in the field.
US, UAE troops launch major exercise Native Fury
U.S. Marines and Emirati forces held a major US Marines and UAE Emirati forces exercise Native Fury at Abu Dhabi.
- The exercise saw forces seize a sprawling model Mideast city, a drill conducted amid tensions with Iran and despite the new coronavirus pandemic.
- The biennial exercise, shows the close ties between American forces and the U.A.E., a federation of seven sheikhdoms on the Arabian Peninsula home to Abu Dhabi, the capital, and Dubai
BANKING & FINANCE
Centre waives ATM withdrawal charges for three months
Union Finance Minister Nirmala Sitharaman announced a slew of measures amid as the country battles through coronavirus. Finance Minister announced that ATM withdrawal fee has been waived for three months.
- No minimum balance requirement fee was also announced. Sitharaman also extended dates for filing Income Tax Return for financial year 2018-19.
- The measure comes as over 600 districts were placed under lockdown amid coronavirus threat.
SBI commits 0.25% of FY20 annual profit to help fight COVID-19
The country’s biggest lender State Bank of India said it will provide 0.25 per cent of its annual profit for 2019-20 to fight the coronavirus outbreak in India. The announcement came hours after the government notified spending by companies to deal with the coronavirus outbreak as corporate social responsibility (CSR) activity under the companies law.
- The fund used to fight the coronavirus pandemic will be spent from CSR funds
YES Bank gets Rs 60k-cr line of credit from RBI to resume operations
The Reserve Bank of India (RBI) has extended a credit line of Rs 60,000 crore to YES Bank to ensure that the bank is able to meet its obligations to depositors as it resumed its full-service operations on Wednesday, according to sources familiar with the development.
- The additional liquidity arsenal is in line with Section 17 (4) of the RBI Act and also is a reaffirmation of the governor’s statement on Monday that the central bank was ready to provide all the necessary liquidity support to Yes Bank.
On lending by banks to NBFCs, HFCs to be part of priority sector in FY21: RBI
The Reserve Bank said bank credit to registered NBFCs towards agriculture, MSEs and housing sector up to prescribed limits will be treated as priority sector loans during the next fiscal starting April.
- Bank credit to registered NBFCs (other than MFIs) and HFCs for on-lending will be allowed up to an overall limit of five per cent of individual bank’s total priority sector lending.
- The move will help boost credit disbursement in the targeted segment like agriculture, MSME and housing sector.
NABARD extends financial support of Rs 42,313 crore towards rural infrastructure
The National Bank for Agriculture and Rural Development (NABARD) has extended financial support up to Rs 42,313 crore towards building rural infrastructure in the ongoing fiscal year.
- NABARD disbursed Rs 20,869 crore during FY20 for irrigation related projects in addition to deploying Rs 5,686 crore for rural connectivity.
- Apart from these, the development bank released Rs 10,935 crore towards various government schemes. These include the ‘housing for all scheme’ or the Pradhan Mantri Aawas Yojana-Gramin, and for clean water and sanitation facilities under the Swachh Bharat Mission.
CCEA approves recapitalisation of RRBs
The Cabinet Committee on Economic Affairs (CCEA) approved a Rs 1,340-crore recapitalisation plan for regional rural banks (RRB).The recapitalization of RRBs will improve their Capital to Risk Weighted Assets Ratio.
- The central government will provide Rs 670 crore and an equal amount will come from the banks for recapitalisation.
BUSINESS & ECONOMY
India bans export of Hydroxychloroquine
The Centre has banned the export of Hydroxychloroquine with immediate effect in the wake of novel coronavirus outbreak.
- The government made amendments in Schedule 2 of the ITCH Export Policy related export of Hydroxychloroquine and its formulations. However, exports will be allowed in some cases.
Sunil Chhetri chosen for FIFA campaign against COVID-19
Talismanic India football captain Sunil Chhetri has been picked by FIFA along with 28 past and present stars for world governing body’s awareness campaign to combat the COVID-19 pandemic.
- The campaign, named ‘Pass the message to kick out coronavirus’ by FIFA and launched in association with the World Health Organization (WHO), will be led by world-renowned footballers who will urge people to follow five key steps in their fight against the novel coronavirus.
Sameer Aggarwal appointed as CEO of Walmart India
Sameer Aggarwal has been appointed as CEO of Walmart India. He will report to Dirk Van Den Berghe, Executive Vice-President and Regional CEO of Asia and Global Sourcing, Walmart.
- Aggarwal appointment comes into effect from April 1. He succeeds who is set to retire and assume the role of advisor to Best Price, Walmart India.
Ruchika Tomar wins PEN/Hemingway Award for debut novel
Ruchika Tomar’s “A Prayer for Travelers” has won the PEN/Hemingway Award for best debut novel, an honor previously given to Marilynne Robinson, Tommy Orange and Yiyun Li among others.
- Currently teaching at Stanford University, Tomar will receive $25,000 and a month-long residency at the Ucross Foundation writers retreat in Wyoming
Photography veteran Nemai Ghosh dies at 86
Veteran photographer Nemai Ghosh, who had a long association with directing great Satyajit Ray, passed away at a city hospital. He was 86.
- Most known for working with Satyajit Ray as a still photographer who captured the master craftsman in different moods at sets besides framing actors as they faced camera for over two decades, Nemai Ghosh debuted with “Goopy Gyne Bagha Byne” (1969) and was with Satyajit Ray till his last film “Agantuk” (1991).
- A Padma Shri recipient, Nemai Ghosh had also penned books such as “Manik Da: Memoirs of Satyajit Ray”, which are invaluable references for Ray enthusiasts.
International Day of Remembrance of the Victims of Slavery
The United Nations’ (UN) International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is on March 25 each year.
- It honors the lives of those who died as a result of slavery or experienced the horrors of the transatlantic slave trade. It is also an occasion to raise awareness about the dangers of racism and prejudice.
- This year Theme is “Confronting Slavery’s Legacy of Racism Together”