Current Affairs 6th May 2017 - Banking, SSC, UPSC Affairs

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The Appointments Committee of the Cabinet approved seven top-level changes in various public sector banks. Usha Ananthasubramanian, MD and CEO of Punjab National Bank appointed as MD & CEO of Allahabad Bank; Sunil Mehta, Executive Director of Corporation Bank, appointed as MD & CEO of Punjab National Bank; Dinabandhu Mohapatra served as Executive Director at Canara Bank, appointed as MD and CEO of Bank of India; G Rajkiran Rai, Executive Director at Oriental Bank of Commerce appointed MD & CEO of Union Bank of India ; R Subramaniakumar, Executive Director, Indian Overseas Bank as MD & CEO of the bank; RA Sankara Narayanan, ED, Bank of India, has been appointed MD & CEO of Vijaya Bank; MO Rego MD & CEO of Bank of India appointed MD & CEO of Syndicate Bank.

The promulgation of the Banking Regulation (Amendment) Ordinance, 2017 inserting two new Sections (viz. 35AA and 35AB) after Section 35A of the Banking Regulation Act, 1949 enables the Union Government to authorize the Reserve Bank of India (RBI) to direct banking companies to resolve specific stressed assets by initiating insolvency resolution process. The recent enactment of Insolvency and Bankruptcy Code (IBC), 2016 has opened up new possibilities for time-bound resolution of stressed assets. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act(SARFAESI) and Debt Recovery Acts amended to facilitate recoveries for timely resolution of stressed assets.

India’s badminton players PV Sindhu and Saina Nehwal, received  prize money and cash dues for winning international events from Badminton Association of India (BAI). A total of Rs 1.07 crore the Rs.30 lakh due to Kashyap for winning the Common Wealth Games (CWG) gold and the 2015 India Grand Prix Gold title issued to the players. Newly-elected BAI President Himanta Biswa Sarma distributed the money after 2014 CWG men's champion Parupalli Kashyap raised the issue.

The Government declared the entire Assam as a “disturbed” area under the Armed Forces Special Powers Act (AFSPA) for another 3 months. In addition, the government has placed three districts of Arunachal Pradesh, namely Tirap, Changlang and Longding and other areas falling under 16 police stations bordering Assam. In Assam, 75 incidents of violence have been reported in 2016 and 9 in 2017. The Assam has been placed under AFSPA since November 1990.

The Haryana government has decided to open canteens offering meals at  affordable rates.  Under the "Antyodaya Anna Yojana" scheme the workers at 23 locations in the state can avail their food. Antyodaya Anna Yojana (AAY) is a Government of India sponsored scheme to provide highly subsidized food to millions of the poorest families.

United States President Donald Trump signed a $1.2 trillion spending bill, preventing a shutdown of the government . The 1,665-page bill, which will fund the government through September 30. The bill increases funding for Pentagon, Federal Bureau of Investigation (FBI), border security, NASA and medical research.

Thirty-four Memorandum of Understanding (MoU) amounting about Rs 2 lakh crores were signed in the three-day India Integrated Transport and Logistics Summit that was concluded in New Delhi.  Minister of Road Transport & Highways and Shipping Shri Nitin Gadkari set an urgent need to bring down logistics cost in the country to globally comparable rates. The Summit was attended by around 3000 delegates from India and abroad, which included central and state government organizations , international organizations like World Bank and ADB, delegates, global transport and supply chain experts and representatives of private companies. The sessions focused on six major themes that included Multi Modal Logistics Parks, New developments in Urban Transportation, Freight Corridors for Economic Development, Supply Chain Transformation- Storage Innovations, GST and Role of Digitization for Decongestion and Standards and Skills for Logistics. 

The twin - engine 158 - 174 seat passenger jet made by state owned commercial Aircraft corporation it features several imported elements like German landing Gear and Austrian interior. Single-aisle plane can carry up to 168 passengers and is meant to rival Airbus and Boeing aircraft. China's first domestically-made regional jet, the twin-engine regional ARJ21, flew its passengers in June 2016.

International cricket council (ICC) tries to popularise women's cricket and also the upcoming 2017 World cup in England by increasing thre prize money to $2 million. This is ten times the amount that was awarded in the lat edition in 2013. The ICC announced that Decision Review system (DRS) will be put in place for the first time in women's cricket during the eight team tournament in June.

According to the Minister for Petroleum and Natural gas Dharmendra Pradhan stated that more than 2 crore LPG gas connections are given under Pradhan Mantri Ujjwala Yojana(PMUY)  in the last one year. The scheme implemented across 600 districts in the country and the LPG distribution process has been integrated through digital platforms. 4600 new distributors were added in the last 3 years primarily in the rural areas. 38 per cent beneficiaries of the scheme belong to Scheduled Caste and Scheduled Tribes.

Gautam Shantilal Adani signed a 74 million dollar landmark deal with Australian steel group Arrium to buy steel for a 400-km rail line for its Carmichael coal mine project.  Arrium’s division OneSteel Manufacturing Proprietary limited will supply 54,000 tonnes of steel to build the rail line. Adani's 16 billion dollar Carmicheal mine project has been resolved recently.

The world's biggest X-ray laser generated its first light in Hamburg, Germany.  The 3.4 kilometer (2.1 mi) long European X-ray Free Electron Laser (XFEL) produced a pulsing laser light with a wavelength of 0.8 nanometer. XFEL  is a billion times more brilliant than conventional synchrotron light sources and can capture images at atomic resolution.

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