Daily Current Affairs 5 March 2018 for Banking/Insurance/SSC and other related exams.
Centre sets up committee to study issues in Fintech space
The government has set up a steering committee headed by Economic Affairs Secretary, Subhash Chandra Garg to consider various issues relating to the development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship.
- The move is a follow up to the announcement meade by Finance Minister Arun Jaitley in his Budget speech of 2018-19.
- The committee will also focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs.
I&B Minister Smiriti Irani inaugurates FICCI Frame in Mumbai
Information and Broadcasting Minister Smiriti Irani has inaugurated 2018 edition of FICCI Frame in Mumbai.
- The three- day global convention covering the entire gamut of Media and Entertainment Industry will attract not only the industry stakeholders from across the world but also the government policy makers from India and abroad.
Himachal to set up medicinal plant board centre
The Himachal Pradesh government approved the setting up of a regional-cum-facilitation centre of the National Medicinal Plants Board of the Ministry of Ayush in the state at an outlay of Rs 748.30 lakh. The centre will be set up in Jogindernagar town in Mandi district.
- The aim of the centre is to provide inputs for conservation, cultivation, technology upgradation, sale of medicinal plants, training and research, and development of region-specific planting material.
Week-long International Yoga festival held in Rishikesh
The week-long 29th annual, world-famous International Yoga Festival (IYF) international yoga festival was inaugurated in Rishikesh, Uttarakhand.
- The IYF offers daily classes in meditation, mudras, Sanskrit chanting, reiki, Indian philosophy and spiritual discourses to be held by revered spiritual leaders from India and abroad.
Shigmotsav 2018 Celebrated In Goa
Shigmotsav has been organized enthusiastically in Goa. Shigmotsav or Shigmo is one of the several cultural festivals of the coastal state and is celebrated through colours, costumes, music, dance and parades. Shigmo parades offer glimpses of Goan life depicted through folk dance and music performances by locals.
“Namaste Shalom”- Magazine on India-Israel Relations Launched
The Union Minister of State (I/C) of the Ministry of Development of North Eastern Region (DoNER), Dr Jitendra Singh, launched the social media of “Namaste Shalom”, a magazine on India-Israel relations.
- The magazine ‘Namaste Shalom’ is edited by Tarun Vijay, former MP.
Aamir Khan launches Manjeet Hirani’s book ‘How to be a Human’
Aamir Khan launched the book ‘How to be a Human’, which is penned by Rajkumar Hirani’s wife Manjeet Hiraniwas. The book is based on the dog which the Hirani’s adopted from ‘PK’ sets.
- In her book, Manjeet has written about attachment, parenting, and karma, among other things. She shows how having a dog in the house can alter your perspective and change the way you experience life.
China sets GDP growth target of 6.5 percent for 2018
China has set its Gross Domestic Product (GDP) growth target at around 6.5 percent for the year 2018-19. The figures are, however, slightly lower than previous figures of 6.7 percent in 2016 and 6.8 percent in 2017 respectively. China will still remain as one of the world’s fastest-growing economies in the world.
Marshall Islands 1st country to launch own cryptocurrency as legal tender
The Marshall Islands is creating its own digital currency in a bid to raise money. In doing so it becomes the first country in the world to recognize a cryptocurrency as legal tender.
- The small Pacific Island nation passed the Sovereign Currency Act to create the ‘sovereign’, or SOV. The cryptocurrency will have equal status with the US dollar and, unlike many cryptocurrencies, users will have to reveal their identity in order to use SOV.
BANKING & FINANCE
RBI slaps Rs 3 cr penalty on Axis Bank
The Reserve Bank of India imposed penalty of Rs 3 crore on private lender Axis Bank for non-compliance of income recognition and asset classification (IRAC) norms. The regulator said it found discrepancies in the lenders assessment of non-performing assets which warranted a monetary penalty.
RBI charges fine on IOB over non-compliance with KYC norms
The Reserve Bank of India (RBI) imposed a monetary penalty of Rs.20 million on Indian Overseas Bank for non-compliance with the directions issued by the former regarding Know Your Customer (KYC) norms.
Viswanathan Anand wins Rapid event at Tal Memorial
Viswanathan Anand won the rapid event at the 11th Tal Memorial chess in Moscow. The World rapid champion finished the event with 6 points while Shakhriyar Mamedyarov (with 5 points) came second.
Conrad Sangma set to become next Meghalaya CM
National People’s Party (NPP) President Conrad Sangma will be the new chief minister of Meghalaya. He will replace Mukul Sangma.
Merkel gets fourth term as Germany’s Chancellor
Germany’s Angela Merkel secured her fourth term as the Chancellor after the Social Democratic party voted in favour of a grand coalition with Merkel’s Christian Democratic Union.