Current Affairs for BANK, IBPS Exams - 21 June 2022

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 21 June 2022


'No question of a roll back': Doval on Agnipath scheme amid widespread protests

  • National Security Advisor Ajit Doval said that the contentious 'Agnipath' recruitment scheme for the armed forces - which has been fiercely criticised - will not be rolled back despite widespread opposition. Speaking to news agency ANI, Doval said a change in the armed forces' make-up is necessary if the country wants to prepare for future wars and conflicts.
  • "The (idea of) war is undergoing a great change. We are going toward contactless wars, and also going towards the war against the invisible enemy. Technology is taking over at a rapid pace. If we have to prepare for tomorrow, then we have to change," Doval told ANI in an exclusive interview.
  • Doval's comments come amid violent protests against the 'Agnipath' scheme, which marks the first time the government is recruiting to the armed forces since the pandemic began. The new scheme will employ (in the first year) 46,000 young men and women for a four-year tour of duty.
  • 75% of these recruits will be retired after four years and this has prompted furious pushback from armed forces aspirants and opposition parties, who have questioned educational and employment opportunities available to retiring 'Agniveers', as the new recruits will be called.
  • The government has since explained in detail that there will be several such opportunities for 'Agniveers', with states announcing reservations in police and security forces, as well as and union ministries announcing reservations in their respective employment programmes.
  • Last week top military officials from all three service branches - Army, Air Force and Navy - held a press briefing to explain the 'Agnipath' scheme and the roles, salaries and futute of 'Agniveers'.

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Tesla is security concern for China before crucial 20th Party Congress

  • Tesla cars will not be allowed to enter the Chinese coastal district of Beidaihe - where the Communist Party holds a secretive annual summer conference that traditionally discusses major policy decisions and personnel moves - for at least two months starting from July 1. 
  • This year, in the run-up to 20th Communist Party Congress in Beijing, the coastal town in Heibei province will host a 15-day retreat of top present and past leaders of the Communist Party of China, with President Xi Jinping discussing the future of the People's Republic with past leaders like Jiang Zemin and Hu Jintao. This meeting of elders in August is a usual secretive affair with no media or outsiders allowed.
  • Tesla owners have been told to submit an undertaking - which has been seen by Hindustan Times and which says "I ___ promise to undertake that from 1.7.2022 to 31.8.2022 I would not drive the car with plate number ___ and enter Beidhaihe district or drive the car inside Beidaihe district..."
  • Restrictions on Tesla cars in Beidaihe - also reported by Reuters - come weeks after they were barred from some roads in Chengdu early this month, just as president Xi Jinping was in the city.
  • More crucially, the Beidhaihe restrictions mean a different light can be cast on the forthcoming 20th meeting of the Communist Party Congress in October this year, at which 'eternal leader' Xi Jinping will be 'elected' to another five-year term and cement his all-powerful position within the government.
  • Xi has already restructured the Central Military Commission, of which he is chairman, and has brought in generals who are loyal to him and have served with him in the past.


ICICI Pru Life declares highest ever annual bonus of Rs 969 cr for FY22

  • ICICI Prudential Life Insurance  announced a record bonus of Rs 969 crore for policyholders in FY2022, 12 per cent higher than the preceding fiscal.
  • This is the company's 16th consecutive annual bonus, and the highest ever to date, ICICI Prudential Life said in a release.
  • All participating policies in force as of March 31, 2022, are eligible to receive this annual bonus, which will be added to the policyholders' benefits. Almost a million participating policyholders will benefit from this, taking them closer to achieving their long-term financial goals, the company said.
  • The insurer said the range of innovative participating products offered by it gives its customers both comfort of capital guarantee and growth in the form of declared bonuses. It also provides financial security to the family by way of a life cover.
  • The annual bonus of Rs 968.8 crore for FY2022 is the highest ever declared by the company since inception, N S Kannan, Managing Director & CEO, ICICI Prudential Life Insurance, said.

BoI to raise capital up to Rs 2,500 cr to comply with shareholding norm

  • State-owned Bank of India (BoI) is mulling to raise up to Rs 2,500 crore in fresh equity capital as it requires to increase the public shareholding in the bank to 25 per cent to comply with regulatory norms.
  • Presently, public shareholding in Bank of India is 18.59 per cent.
  • According to the Sebi norms, listed companies are required to comply with the minimum public shareholding guidelines.
  • "The present public shareholding in the bank is 18.59 per cent and the bank has to increase this to 25 per cent or above in order to comply with the minimum public shareholding requirements...Hence, the bank proposes to issue fresh equity capital to increase the public shareholding to 25 per cent or above," BoI said in a regulatory filing.
  • The lender said that it proposes to raise fresh equity shares for cash as such premium up to an amount of Rs 2,500 crore in such a way that the central government shall at all times hold not less than 51 per cent of the paid-up capital of the bank, whether at a discount or premium to the market price, the bank said in the filing.
  • Bank of India said the capital is to be raised during the period of one year from the date of passing of the resolution in one or more tranches and it will seek shareholders' approval for the same in its ensuing annual general meeting on July 15, 2022.


Andy Murray says still planning to play at Wimbledon 2022

  • Andy Murray said he remains on course to play at Wimbledon even though he is still being hampered by an abdominal injury which has left him unable to practice fully.
  • The 35-year-old Briton, who won the grasscourt Grand Slam in 2013 and 2016, sustained the injury during his Stuttgart Open final loss to MatteoBerrettini on June 12.
  • The former world number one withdrew from last week's Queen's Club Championships and is racing to be fit for Wimbledon, which begins on June 27.
  • "The plan is still to play. The injury is improving. I've had it rescanned and it's progressing in the right way," Murray told British media.

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