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Heads of 7 PSU Banks Appointed
In a major restructuring in the banking sector, Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi appointed heads of seven public sector banks besides shifting managing directors of PNB and Bank of India. PNB Managing Director ..
Month: Current Affairs - May, 2017
RBI tightens Rules for JLFs
The Reserve Bank of India (RBI) has tightened the rules around making the Joint Lenders’ Forum (JLF) more effective, directing banks not to break any rules and to meet all deadlines. The RBI has said that any breach of rules ..
Month: Current Affairs - May, 2017
Union Cabinet clears Ordinance to tackle Bad Loans
The Union Cabinet has cleared an ordinance that seeks to amend the Banking Regulation Act to give more powers to Reserve Bank of India to deal with non-performing assets (NPAs) in the banking sector. The ordinance has been sent to ..
Month: Current Affairs - May, 2017
Andhra Pradesh CM Chandrababu Naidu selected for USIBC Award
The US-India Business Council (USIBC) has selected Andhra Pradesh Chief Minister, Chandrababu Naidu for the ‘Transformative Chief Minister Award’ for his role in advancing the US-India partnership at the state level. The award will be presented to him at the ..
Month: Current Affairs - May, 2017
RBI asks ARCs to have a minimum net corpus of Rs100 crore by 2019
The Reserve Bank of India (RBI) has asked all the existing asset reconstruction companies (ARCs) to have a minimum net owned fund (NOF) of Rs100 crore by March 2019. This decision has been taken by RBI in accordance with its ..
Month: Current Affairs - May, 2017
Bhubaneswar: First Indian city to win Pierre L’enfant Awards-2017
Bhubaneswar has become the first Indian city to win Pierre L’enfant International Planning excellence award-2017 instituted by the American Planning Association (APA). Bhubaneswar has been chosen for its good and advanced town planning and engaging its residents in the planning ..