Current Affairs for BANK, IBPS Exams 19 June 2017

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams 19 June 2017

::National::

The norms for no-fly list to rein in unruly passengers to be ready soon

The norms for no-fly list to rein in unruly passengers are expected to be ready early next month, the government said amid a parliamentarian being barred by domestic airlines for allegedly creating ruckus.
A revised Civil Aviation Requirement (CAR) is being finalised after receiving comments from the stakeholders.
The Civil Aviation Ministry has already come out with draft rules for a ‘national no-fly list’ of unruly passengers for all domestic carriers, under which the flying ban could extend from at least three months to an indefinite period.
Lok Sabha member from TDP J.C. Diwakar Reddy was barred by major airlines after he allegedly created a ruckus at the Vizag airport when he was denied boarding by IndiGo.
This is the second incident involving a Lok Sabha member after Shiv Sena’s Ravindra Gaikwad was banned by carriers for some time after he had assaulted an Air India staffer.

Central India to receive monsoon by 22nd June

The monsoon system, forecast to establish itself over Central India by June 15, will be delayed by a week. This is unlikely to affect the overall rainfall in June and is seen as a part of the monsoon’s natural variability.
There is moisture in the air and thunderstorm along with rain…but the monsoon has been delayed [over Central India] because of strong rain in the east.
As of June 17, the country got 79.6 mm of rain, 9% more than the average 72.8 mm it receives in the first fortnight of June. Rain in Central India is 21% more than what is normal for this time.
IMD said rainfall was likely to be 96% of the historical average in northwest India, 100% of the LPA (the 50-year average of the monsoon rains) over central India, 99% of the low pressure area (LPA) over the south peninsula, with a model error of plus or minus 8%.

National Mission for clean Ganga to decide about 400 tanneries from kanpur

Officials of the National Mission for Clean Ganga (NMCG) will meet Uttar Pradesh government officials to discuss the State’s decision to shift over 400 tanneries from Kanpur.
The previous Samajwadi Party government had told the National Green Tribunal (NGT) in 2016 that the tanneries could not be shifted, for no land was available. The Yogi Adityanath government has reportedly identified fresh land.
Were the tanneries to be shifted, it could affect nearly two million people dependent on them for their livelihood. It could also mean that alternative technologies — like the zero liquid discharge (ZLD) plant promoted by the CSIR-Central Leather Research Institute, Chennai — may not be implemented.
The tannery clusters at Jajmau employ over two million people; for long, tannery managers have argued that the new-technology effluent treatment plants are expensive.
Were the tanneries to shift, a new common effluent treatment plant would have to be developed.
Central Pollution Control Board had informed the NGT that the Ganga, running 543 km between Haridwar and Kanpur, was affected by 1,072 seriously polluting industries that were releasing heavy metals and pesticides.
At present, 823.1 million litres per day (MLD) of untreated sewage and 212.42 MLD of industrial effluent flow into the river, while three of the four monitored sewage treatment plants do not comply with the set standards.
The green panel has divided the cleaning work in segments — Gomukh-Haridwar (Phase-I); Haridwar-Unnao (segment B of Phase-I); Unnao-the border of Uttar Pradesh; the border of Uttar Pradesh-the border of Jharkhand; and the border of Jharkhand-the Bay of Bengal.

Bengal still tensed over Gorkhaland issue

An eerie silence prevailed on Sunday in Singhamari, the stronghold of the Gorkha Janmukti Morcha (GJM). Three people were killed allegedly in police firing during a violent agitation for a separate State of Gorkhaland.
On the fourth day of the indefinite strike called by the GJM in Darjeeling hills, Singhamari, which has been the epicentre of the protests, wore a look of desolation and devastation.
Internet services were down and according to the protesters, this was a ploy of the administration and the police to counter the Gorkhaland movement.
According to Col. Ramesh Allay (retd.), Deputy Chairman of the Gorkhaland Territorial Administration (GTA) and central committee member of the GJM, after “Saturday’s killings”, there is no going back in the agitation for Gorkhaland.

::Business and Economy::

Civil Aviation Ministry has recommended a rollback of an airport charge increase

Airfares are set to become cheaper as the Civil Aviation Ministry has recommended a rollback of an airport charge increase, across all non-major airports operated by the Airports Authority of India (AAI), which came into effect December last year.
The Aviation Ministry asked the AAI to take back the increase in aeronautical charges at non-major airports from July this year. In December, airport charges were raised by 10% — a first such hike in eight years.
This was followed by a subsequent hike by 5% in airport charges beginning April 1.
The airport charge increase was applicable on non-major airports such as Amritsar, Nagpur, Bagdogra, Surat, Madurai, Vijayawada, Jammu, Varanasi, Vadadora, among others, which handle an annual traffic of less than 15 lakh.
However, AAI, which is already facing a challenge to meet the expenses of flight operations from remote airports under the Centre’s regional connectivity scheme UDAN, has “strongly” opposed the move fearing an impact on its revenue.
The AAI has told the Aviation Ministry that the move will lead to a revenue loss of Rs. 200 crore in 2017-18.
The passenger service fee, which is charged as a part of air ticket fare, was increased from Rs. 77 per passenger to Rs. 85 in December last year and then to Rs. 89 in April this year.

Lower Inflation may not translate to purchasing power

A CPI inflation rate below 2.5% is a once-in-a-blue-moon occurrence in India. Looking back at the history of the CPI – Industrial Workers (the older avatar of the index which has a longer history), we find that India has registered CPI inflation of less than 2.5% only in 12 months in 20 years.
But if retail inflation is at a stand-still, how come most of us don’t feel it? Shouldn’t this be boosting our purchasing power and visibly fattening our wallets?
There are three reasons why your personal experience with price rise may not gel with the official reading.
This is because the All-India CPI Combined is compiled by collecting town and village-level data on the prices of goods and services across States and then aggregating them.
Now, all States and Union Territories do not get equal weighting in the total. The weights are decided by the consumption expenditure within each State relative to the all-India consumption basket.
While the State of Maharashtra gets a 13.2% weight in the all-India CPI (Combined), J&K weighs in with just 0.94%, Puducherry with 0.17% and Sikkim with 0.05%.
In effect, price trends at Maharashtra carry nearly 260 times the influence that Sikkim carries in deciding the final CPI number.
Services often witness higher price rise than products in the Indian context. But in practise, more affluent households will tend to spend a far lower proportion of their income on food and essentials and make a higher allocation to non-essentials and services.
The official CPI print captures the point-to-point change in the index in the latest month, compared to the same month last year. This makes the number susceptible to distortions from one-off factors both in the base month and in the current one.
The CPI inflation rate for May 2017 has, for instance, been suppressed by the base effect. As we know, a bountiful monsoon this year has led to a bumper production of pulses, oilseeds and horticultural crops.
In May last year, for instance, two consecutive poor monsoon years had fuelled a sharp flare-up in the prices of pulses, oilseeds, vegetables and spices.
In May 2016, therefore the item-wise breakdown of CPI showed the prices of pulses up 33% (year-on-year), vegetables higher by 10% and spices rising 9%.
But in May 2017, the respective CPI index for vegetables was down by 13%, that for pulses had plunged 15% and fruits and oils were up by just 1-2% compared to the same time last year.
In short, yes, inflation has moderated of late, but for most middle class folk, it is likely to be higher than 2.2%.

Govt taking steps to reduce bad debt

RBI said its internal advisory committee (IAC) had identified 12 accounts, which account for 25% of non-performing assets of the Indian banking system for immediate resolution under the Insolvency and Bankruptcy Code (IBC).
The gross bad debt in the banking system as on March was Rs. 7.11 lakh crore, which means the 12 accounts contribute to about Rs. 1.78 lakh crore.
A company is bankrupt if it is unable to repay debts to its creditors (banks, suppliers etc). The inability to repay debts by some of the Indian firms has resulted in a huge pile of non-performing assets for the banking system.
A mechanism to free up the money stuck as bad loans is one of the key for the banking system. IBC is seen as one such.
While the names of the 12 accounts which have been referred have not been made public officially, the RBI had earlier hinted that stress was coming from sectors such as power, telecom, steel, textiles and aviation.
Union Finance Minister Arun Jaitley later said the number of highly stressed accounts would be about 40-50.
The government had recently amended the RBI Act, which gave powers to the central bank to direct banks to take punitive action against individual accounts under IBC.