CURRENT AFFAIRS 23rd Jan., 2015 1. Reserve Bank of India has asked commercial banks to display loan interest rates on their websites in order to enhance transparency for borrowers. RBI has also insisted that banks should also mention the total fees and charges applicable on various types of loans to individual borrowers. 2. European Central Bank took the policy leap by launching a government bond-buying programme which will pump hundreds of billions of new money into a sagging Euro zone economy. By September next year, more than euro 1 trillion ($1.14 trillion) would be created. 3. The Finance ministry is considering hiring candidates from private banks for the post of PSB chief executive officers and paying them market-linked salaries. It is a part of steps the government is taking to reform public sector banks (PSBs). 4. Government is exploring options to sell stake in Indian Oil Corporation (IOCL), Bharat Heavy Electricals (BHEL), National Aluminum Company (Nalco) and NMDC following the uncertainty over disinvestment in Oil and Natural Gas Corporation Limited (ONGC) and Coal India. 5. Saudi Arabia King Abdullah bin Abdulaziz passed away due to a brief illness. After the death of Abdullah bin Abdulaziz, his brother and Crown Prince Salman bin Abdulaziz Al Saud was named as the new king. CURRENT AFFAIRS 22nd Jan., 2015 1. UK Sinha, chairman of the Securities and Exchange Board of India launched MF Utility, a single window for investment in multiple schemes. The platform will allow investors to submit a single transaction form with a single payment for multiple investments across mutual funds. 2. Securities and Exchange Board of India plans a discussion paper on additional measures for algorithmic trading. The paper will focus on the impact of liquidity brought by algo trading programmes. Reserve Bank of India and SEBI are holding talks to see whether banks could convert bad loans taken by companies into an equity stake in such entities. 3. Cabinet approves swapping arrangement between telecom & defence ministries for release of 15 MHz in 2,100-MHz band by the forces. Cabinet also cleared what spectrum would constitute the defence band and decided to earmark as defence interest zones 50 km around border areas. 4. Kerala Culture Minister K C Joseph announced setting up of the Indias first International Institute of Music in Kerala. A Trust headed by Sarod Maestro Ustad Amjad Ali Khan has been entrusted with the responsibility to set up the Institute. 5. Prime Minister Narendra Modi launched a small deposit scheme Sukanya Samridhi Yojana for girl child under the Beti Bachao Beti Padhao (BBBP) campaign. Sukanya Samridhi Yojana will enable parents to open bank accounts of girls who are under 10 years of age. The scheme will ensure equitable share to a girl child in resources and savings of a family in which she is generally discriminated against a male child. CURRENT AFFAIRS 21st Jan., 2015 1. International Monetary Fund (IMF) in its World Economic Outlook Update projected India’s economic growth in 2015-16 to 6.3 per cent from the 6.4 per cent made in October last year and 6.5 per cent for 2016-17. It has projected that Indias economy to grow faster than Chinas by 2016-17 on a different growth parameter. 2. The target of opening 115 million bank accounts has been formally achieved at the government’s flagship Pradhan Mantri Jan Dhan Yojana programme ahead of January 26 deadline. The Guinness World Records has registered the achievement as Most bank accounts opened in one week. The programme has covered 99.74 per cent of surveyed households till date. 3. India has been ranked 78th in Global Talent Competitiveness Index (GTCI) that measures a nations competitiveness based on the quality of talent it can produce, attract and retain. Switzerland has topped the list followed by Singapore, Luxembourg, Denmark, United States and Canada in the top five. 4. India emerged as the second most trusted country in the world in terms of faith reposed on its institutions says a survey. Brazil, Malaysia, France and the US are among the 8 neutral nations as per the trust index and Japan, Russia, Hong Kong, South Africa and Italy are among the distruster countries. 5. Urban Development Minister Venkaiah Naidu launched the Heritage Development and Augmentation Yojana (HRIDAY) for 12 cities including Varanasi, Mathura, Gaya, Dwarka and Puri across the country. The project is aimed at preserving and rejuvenating the rich cultural heritage. CURRENT AFFAIRS 20th Jan., 2015 1. Bandhan Financial Services has received a combined equity commitment of Rs 1,600 crore from International Finance Corp (IFC) and GIC, Singapore’s sovereign wealth fund. The proposed investment is aimed at supporting the transformation of Bandhan to a universal bank. 2. Private sector lender RBL (Formerly Ratnakar Bank Limited) has launched a digital wallet Shmart – for online retailers. The bank has tied up with TranServ, a digital payments company for this initiative. Shmart offers customers faster checkout, instant refunds, secure storage of bank cards, vouchers & coupons, and a semi-closed loop prepaid account to store funds. 3. According to anti-poverty charity Oxfam, the richest 1 per cent are about to control a majority of the worlds wealth by 2016. Bloomberg Billionaires Index shows that the worlds richest has added $92 billion to their collective fortune in 2014. 4. Reserve Bank of India asked banks to notify the Base Rate or the minimum lending rate, at least once in every three months based on the cost of funds. At present, the review of the Base Rate does not have a fixed schedule. Also, the new guidelines does not allow banks to change their methodology during the review cycle. 5. Kotak Mahindra Bank announced the launch of Jifi Saver, a social savings bank account which can be seamlessly managed via Twitter and Facebook. Jifi Saver will facilitate online shopping, on-the-go transactions, and financial planning, along with other benefits and functionalities of a regular savings bank account. CURRENT AFFAIRS 19th Jan., 2015 1. Pradhan Mantri Krishi Sinchayee Yojana aims at bringing irrigation water to every village by converging ongoing schemes being implemented by various ministries. The state agriculture department would be the nodal agency for implementation of PMKSY projects. 2. US President Barack Obama and UK Prime Minister David Cameron announced cooperative measures in combating cyber threats during the bilateral summit between the two countries held in Washington DC, US. The measures include better threat information sharing and the creation of a new joint cyber task force. 3. The year 2014 was ranked as the Earth’s hottest year since 1880 as per the two separate analyses done by National Aeronautics and Space Administration (NASA) scientists and National Oceanic and Atmospheric Administration (NOAA) scientists. The global average temperature for 2014 was roughly 1.24°F (or 0.69°C) warmer than the 20th-century average. 4. India and the U.S. have launched an investment initiative to focus on capital market reforms and policy measures that would help spur long-term investment by American investors in India. India-U.S. Investment Initiative was formally launched in Washington at Department of Treasury. 5. Under Global Initiative For Academic Networks (GIAN), India will invite and host up to 1,000 American scholars every year to teach in India. As per the initiative, the scholars would teach in centrally-funded educational bodies like IITs and central universities and in institutes with an ‘A’ grade
Posted on: Tue, 27 Jan 2015 12:08:45 +0000
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