17 August 2017 Current Affairs

Corporation Bank bagged Best performance award from NABARD

Corporation Bank bagged the best performance awards for SHG-bank linkage program for Karnataka for 2015-16 and 2016-17 from National Bank for Agriculture and Rural Development (NABARD). The bank was given the award for its overall performance under SHG-bank linkage program for 2015-16 and 2016-17 among commercial banks operating in Karnataka. The bank formed more than 1.32 lakh self-help groups (SHGs).

NCLT approves RCom’s-Aircel Merger

The National Company Law Tribunal (NCLT) admitted proposals for the merger between Aircel and Reliance Communications wireless business, as well as the latter’s sale of its tower business to Canada’s Brookfield. The telecom department had also asked NCLT to direct RCom and Aircel to get permission from the Supreme Court before filing their merger plea. The Merged entities will be called as ‘Aircom’ and both will have 50% equity stake.

Aadhaar must for subsidised farm loans: RBI

To ensure hassle-free benefits to farmers under Interest Subvention Scheme, the Reserve Bank of India has advised banks to make Aadhaar linkage mandatory for availing short-term crop loans up to Rs 3 lakh in 2017-18. In order to provide short-term crop loans to farmers at an interest rate of 7 percent during the year 2017-18, the RBI said it has been decided to offer interest subvention of 2 percent to lending institutions, public sector banks, private sector commercial banks on use of their own resources. Banks have been asked to include land details, even after providing gold as a security, for the loan to avoid multiple loaning and to ensure that only genuine farmers avail of concessional crop loans through the mechanism of gold loans.

US designates Hizbul Mujahideen as Foreign Terrorist Organisation

The United States has named Pakistan based Kashmiri terrorist outfit Hizbul Mujahideen as a “Foreign Terrorist Organisation (FTO)”. The designation slaps a series of US sanctions on the outfit. With this, Hiz Mujahideen joins them other terrorist outfits Jaish-e-Mohammad (JeM) and Lashker-e-Taiba (LeT) on the US list of FTO designated in 2001. Moreover, two other anti-India groups, al-Qaeda in the Indian Subcontinent (2016) and Indian Mujahideen (2011) are also in the list.

CCEA approves procedure and mechanism for Strategic Disinvestment

The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi has approved revision in the procedure and mechanism for strategic disinvestment. In this regard, the proposal was forwarded by the Department of Investment and public Asset Management (DIPAM). The approval will help in speedy completion of strategic disinvestment transactions.

Real Madrid wins Spanish Super Cup without Ronaldo

Real Madrid defeated Barcelona in the second leg of the 2017 Spanish Super Cup to seal the win at the Bernabeu, Spain. Real Madrid achieved the feat without Cristiano Ronaldo, who was slapped with a five-game ban for pushing the referee after he was sent-off in the first leg.

Government Slaps $264 Million Penalty on RIL

The government has imposed a new penalty of USD 264 million (about Rs 1,700 crore) on Reliance Industries Ltd and its partners for producing less than the targeted natural gas from eastern offshore KG-D6 fields in 2015-16. The Production Sharing Contract (PSC) allows RIL and its partners BP Plc of the UK and Canada’s Niko Resources to deduct all capital and operating expenses from the sale of gas before sharing profit with the government.

Saudi king orders Qatar border be reopened to pilgrims

King Salman of Saudi Arabia has ordered the country’s border with Qatar to be reopened in order to allow Qatari pilgrims to carry out their annual Hajj pilgrimage to Mecca. The move represents the first forward step ever since Saudi Arabia along with other Gulf nations completely cut off ties with Doha, after accusing it of supporting and funding extremist groups. The Salwa border crossing has remained shut since then. The announcement to reopen after Saudi Arabia’s powerful Crown Prince Mohammad bin Salman received an envoy from Doha, the first-ever public high-level encounter between the nations since the crisis erupted.

KVB appoints P R Seshadri as MD & CEO

Karur Vysya Bank Ltd has informed BSE that the Reserve Bank of India has accorded their approval for the appointment of Shri P R Seshadri as Managing Director & Chief Executive Officer of the Bank for a period of three years from the date of his taking charge. He has replaced K Venkataraman.

IAAF World Championships London 2017

The 16th edition of IAAF (International Association of Athletics Federations) World Championships 2017 was held in London. The championships were held in the London Stadium in Stratford. ‘Hero-the Hedgehog’ was a Mascot of 2017 IAAF World Championships and ‘Whizbee-the Bee’ was the Mascot for the Para Athletics. The USA topped the tally of Medals with 30 medals. Top 5 Countries in the list of Medals were-US (30 Medals), Kenya (11 Medals), Great Britain (6 Medals), Poland (8 Medals), China (7 Medals).


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