Current Affairs for BANK, IBPS Exams 31 January 2017

Current Affairs for BANK, IBPS Exams

31 January 2017

:: National ::

Supreme court appointed panel to head BCCI

The Supreme Court appointed a four-member Committee of Administrators (CoA) headed by former Comptroller and Auditor General of India Vinod Rai to oversee the Board of Control for Cricket in India.
The others are former woman Test cricketer Diana Edulji, historian Ramachandra Guha and IDFC Ltd MD and CEO Vikram Limaye.
The four will function as the interim bosses of the BCCI and run the day-to-day administration of the cricket body till the Lodha reforms are fully implemented and elections held.
A three-judge Bench headed by Justice Dipak Misra did not heed pleas for fresh hearings by the BCCI and its members and took the step forward in the direction laid out by the Justice R.M. Lodha Committee.
The BCCI CEO was ordered to submit a report to the CoA detailing the level of compliance achieved by the BCCI and its members in adopting the Lodha recommendations.

Patnaik a 1985 batch IPS appointed Delhi Commissioner

Superseding two seniors in the running for the job, Amulya Kumar Patnaik, a 1985-batch IPS officer, was appointed the next Delhi Police Commissioner.
Mr. Patnaik will have one of the longest tenures till January 2020 when he is scheduled to retire. He replaces Alok Kumar Verma, who was appointed as the CBI Director.
In 1995, Patnaik took the initiative to launch ‘Pratidhi’, a Delhi Police programme to extend counselling and other assistance to victims of traumatic crimes, an initiative that is working successfully till date.
Mr. Patnaik, who is credited with steps like launching the Anti-Obscene Call Cell and the Anti-Stalking Cell, will have to look into this aspect.

More relaxations on cash widhdrawl

The Reserve Bank of India (RBI) lifted curbs on cash withdrawals for holders of current accounts, cash credit accounts, and overdrafts with immediate effect.
The limits had been imposed in November following the withdrawal of high-value banknotes.
The central bank also allowed savings bank account holders to withdraw the entire weekly limit of Rs. 24,000 in a single transaction from ATMs with effect from February 1.
The limits on savings bank accounts will continue for the present and are under consideration for withdrawal in the near future. The move is expected to ease fund availability for small businesses and traders.
Banks typically cap ATM cash withdrawals at Rs. 20,000–Rs. 25,000 per transaction, though some banks offer higher limits for high net worth individuals.

Tripartite talks between United Naga council, Manipur govt and centre

The Centre has decided to hold tripartite talks with the United Naga Council (UNC) and the Manipur government to end the ongoing blockade of two national highways in Manipur, which has disrupted normal life.
The economic blockade imposed by the UNC against the Manipur government’s decision to carve out seven new districts, has continued for over four months now.
The UNC sees the move as an attempt to truncate the concept of a greater Nagalim.
The Centre pressed into service two C-17 Globemaster cargo aircrafts to airlift six fuel tankers to Imphal. 96 kilolitres of petrol was airlifted to ease the oil shortage in the State.
The Union government even sought Attorney General Mukul Rohatgi’s opinion to end the economic blockade.
After consultation, it concluded that no law permitted Centre to interfere in the matter, as law and order was a State subject.

Maha kumbabhishekam at the famous temple dedicated to Sri Brahadeeswarar

Maha kumbabhishekam will be performed at the famous temple dedicated to Sri Brahadeeswarar, and built at an interior village Gangaikondacholapuram in this district by Rajendra Chola.
Special kaala pujai is being held at the temple to mark the ‘maha kumbabhishekam’.
A large number of devotees have been participating in the yaga sala puja and offering their worship to the deities of Lord Brahadeeswarar and Sri Brahanayaki.
The temple is noted for various idols carved on the ‘vimanam’ and also on the walls of ‘prakaram.’ The idol of Sri Chandesa Anugrahamurthy is one of the major idols which speaks volumes about the skill of the sculptors.
Though there was provision for ‘dwajasthambam’ for the temple, it got damaged over the centuries.
The temple authorities and the devotees had made arrangements for setting up the ‘dwajasthambam’ in front of the huge Nandhi at the entrance to the temple.
The holy ‘dwajasthambam’ is 43.8 feet in height and its base has a pedestal of about 6.9 feet. Holy waters from the Ganges had been brought for the kumbabhishekam.

:: International ::

Miss France is Miss Universe

France won its first Miss Universe crown in 64 years in a made-for-television spectacle where finalists spoke out on the refugee crisis and other hot-button global issues.
Iris Mittenaere, a dental surgery student from Lille in the north of France, beat 85 of the world’s most beautiful women at the event in the Philippines scheduled for primetime viewing in the United States.
Ms. Mittenaere (24) edged out Miss Haiti, the first runner-up, and Miss Colombia, the second runner-up, to win France’s first Miss Universe title since 1953.

:: Science and Technology ::

Boron may be the next wonder material

Boron may become the nanomaterial of the century as scientists have found that two-atom-wide ribbons and single-atom chains of the element possess unique properties.
For example, if metallic ribbons of boron are stretched, they morph into antiferromagnetic semiconducting chains, and when released they fold back into ribbons.
Carbon-atom chains known as carbyne, boron fullerenes and two-dimensional films called borophene, all predicted by the Rice group, have since been created by labs.

:: Business and Economy ::

Digitalisation to top the agenda of Gyan Sangam

The push for digitisation in the wake of demonetisation and the proposal for public sector bank (PSB) consolidation are likely to top the agenda for Gyan Sangam which is the retreat for PSBs.
The sessions on digitisation will include presentations on increasing the use of Artificial Intelligence (AI) systems and big data analytics in the banking & financial services industry in India.
The major slowdown in credit growth to a more than six-decade low of 5.1% for the fortnight ended December 23 and ways to revitalise it, as well as measures to effectively tackle bad loans.
The third edition of the retreat which will be attended by senior finance ministry officials as well as heads of PSBs, state-run FIs and insurance firms is likely to be held in Hyderabad or Bengaluru.
Strategies for strengthening the ‘banking correspondent’-network and increasing the usage of micro ATMs and Point of Sale machines will also be discussed.
The high-profile meeting will also deliberate upon the need for the autonomous Banks Board Bureau (BBB) to expedite banking reforms including PSB consolidation.
The BBB was set up to help select heads of public sector banks and financial institutions as well as assist banks with strategies and capital-raising plans.

India post will use its manpower to deliver banking services

The USP of India Post Payments Bank (IPPB) will be its ability to offer door-to-door banking service through postmen and Grameen Dak sevaks,
Banking at the doorstep will no longer remain a mere slogan but will become a reality due to huge postal network in the country.
The bank aims to have 650 branches – one in each district – to be operational by September 2017. Each branch will be connected to the post offices in the district.
IPPB will offer 4.5% interest on deposits up to Rs. 25,000, 5% on Rs. 25,000-Rs. 50,000 and 5.5% on Rs. 50,000-Rs. 1,00,000, much lower than 7.25% announced by competitor Airtel Payment Banks.
The main objective of IPPB will be public service rather than promoting commercial interests, their role is to “broaden” the market not “skim” it.

70000 officials protest GST

About 70,000 officials of the Central Board of Excise and Customs registered their protest against the decisions
This came after the Indian Revenue Service Association, along with the service associations of Customs, Central Excise and Service Tax called for a boycott of the International Customs Day celebrations.
The GST Council’s decision to give jurisdictional control of 90% of the tax assesses having an annual turnover below Rs. 1.5 crore to the States would lead to depletion of the taxpayer base with the Centre.
The revenue service association pointed out several operational problems with the way the GST had been structured across the Centre and the States.