Before we go in-depth with the latest news from last week, we recommend that you read our previous Weekly current affairs blog where we summarized all the latest news that made headlines during the week of May 7th – 13th, 2018. That way you are ready for this week’s updates.
Moving on, welcome to the ‘Weekly Current Affairs news’ from HashLearn. In this article, all the IBPS, SSC and Railway aspirants can get acquainted with the top events that made headlines during the week of 14th – 20th May and prepare for their respective ‘General Awareness’ section. Stay tuned as we will be covering all the important Bank related, International, National, Business and Sports news.
Let’s first begin with,
Important News from Banking Sector
World Bank has agreed to grant for Bangladesh
The World Bank (WB) has agreed to provide Bangladesh with a grant to meet the basic needs of around one million Rohingyas who fled their homeland Myanmar. According to the WB’s conditions, the entire fund that the WB has finally agreed to provide Bangladesh with will have to be spent for the Rohingyas only.
Restrictions imposed on Allahabad Bank: RBI
Following are the restrictions imposed by RBI: Expansion of risky assets, creation of non-banking assets and accessing/renewing wholesale/costly deposits. RBI has also asked the Allahabad bank to reduce exposure to unrated and high-risk advances. The directive from the RBI comes in the wake of the bank’s common equity tier-1 breaching the minimum regulatory requirement of 7.37% in March 2018.
RBI issues Net Stable Funding Ratio (NSFR) guidelines
With an aim to ensure that banks maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities, the RBI issued a detailed guideline on Net Stable Funding Ratio (NSFR). The guidelines on NSFR are in line with global norms prescribed by the Basel Committee. The NSFR would be applicable for Indian banks at the solo as well as consolidated level.
Penalty imposed on the Co-operative bank: RBI
A penalty of Rs. 50,000 has been imposed by the RBI on Universal Co-operative Urban Bank, Mancherial, Telangana as the bank violates RBI’s directive and guidelines on loans and advances to directors and their relatives.
Fine Imposed on South Indian Bank: RBI
South Indian Bank Limited to face a penalty of Rs. 50 million for non-compliance of directions issued by the Reserve Bank of India (RBI). The non-compliance pertains to Income Recognition and Asset Classification (IRAC) norms, Know Your Customer norms and treasury function. Further, the bank is also pulled up for deficiencies in its compliance function and compliance culture
Important Current Affairs News
China aims to deliver its amphibious aircraft by 2022
The largest amphibious aircraft developed by China expected to be delivered to customers by 2022. The aircraft currently named as Kunlong is an AG600 plane designed to be the world’s largest amphibious aircraft. It will mainly be used for maritime rescue, fighting forest fires and marine monitoring, according to its state-owned manufacturer.
RedInk Award 2018 goes to Mark Tully
Sir Mark Tully a veteran British journalist and former BBC India correspondent has been chosen for 2018 RedInk award for lifetime achievement in journalism. Tully worked with the BBC for 30 years before resigning in July 1994. He held the position of Chief of Bureau, BBC, Delhi, for 20 years. The RedInk awards for excellence in journalism are instituted by the Mumbai Press Club.
Gina Haspel: CIA’s first female director
The US Senate approves Veteran spy Gina Haspel as CIA’s first female director. Gina Haspel replaces former CIA chief Mike Pompeo who was made Secretary of State. Central Intelligence Agency is a civilian foreign intelligence service of US federal government that analyses national security information from around the world.
Russia unveils world’s first floating nuclear power station
Russia displays the world’s first floating nuclear power station: ‘Akademik Lomonosov’. This nuclear station holds two 35 megawatt nuclear reactors that can produce enough electricity to power a town of 200,000 residents. It will be primarily used to power oil rigs as Russia pushes further north into the Arctic to drill for oil and gas and needs electricity in far-flung locations.
Renown Lyricist, poet Balkavi Bairagi passes away
Much renowned Hindi film lyricist, Nandram Das Bairagi, popularly known as Balkavi Bairag passes away on 13th May 2018 (Sunday). He was a Lok Sabha member between 1984 and 1989 and also a former Rajya Sabha MP. He wrote several Hindi poems, among which, Jhar gaye paat, bisar gayi tehni is considered a gem by many Hindi poets. He was given the name Balkavi as he wrote some classic poems in his childhood.
EC George Sudarshan famous theoretical Physicist passed away
Famous physicist EC George Sudarshan passed away in Texas, USA. He was known for his works in the subjects of quantum Zeno effect, optical coherence, open quantum system, non-variance groups among others. In 2007, the Kerala-born scientist was awarded the Padma Vibhushan, the country’s second-highest civilian award.
Dr Bindeshwar Pathak, founder of Sulabh awarded Nikkei Asia Prize
The founder of Sulabh International, Dr Bindeshwar Pathak, has been honoured with the Nikkei Asia Prize in Japan for his contribution to Asia’s development. Pathak is among the three who have been conferred with the award. Nikkei Inc., one of the largest media corporations in Japan, has been presenting the awards since 1996.
Lata Mangeshkar honoured with Swara Mauli award
Lata Mangeshkar has been conferred with the Swara Mauli title by spiritual guru Vidya Narsimha Bharati Swami. This is Lata Mangeshkar’s second Swara Mauli title, the veteran singer has several awards to her credit in her over seven-decade-long career, including three National Awards.
India declared as the 3rd largest solar market in the world
India emerged as the third largest solar market in the world in 2017 behind China and the US according to Mercom Communications India. India set a new record with 9.6 GW of solar installations in 2017, which was more than double the 4.3 GW installed in 2016. This robust growth boosted the country’s total solar installed capacity to 19.6 GW as of December 2017.
Mangaluru declared best in waste management
Mangaluru has been selected as the “India’s best city in solid waste management” according to the Union government. The selection criterion included cities with a population between three lakh and 10 lakh under Swachhata Survekshan 2018. The survey by the Union Ministry of Housing and Urban Affairs assessed 4,203 urban local bodies under the aegis of the Swachh Bharat Mission (Urban).
Delhi is predicted to be the most populous city in the world
United Nations estimates Delhi to become the most populous city in the world by the year 2028. At present Tokyo is the world’s largest city with an agglomeration of 37 million inhabitants, followed by New Delhi with 29 million, Shanghai with 26 million. The projected population size of New Delhi in 2028 is about 37.2 million, surpassing Tokyo’s 36.8 million.
Guwahati gets India’s first solar-powered railway station
Guwahati becomes the first state in India to get a railway station run entirely by solar power. This solar-powered station is aimed at reducing carbon-footprint as well as cutting down power costs drastically. Close to 2352 solar modules with a capacity of generating 700 kwp have been set up over the roof of the Guwahati railway station. The solar power plant is said to save Rs 67 lakh worth of electricity.
Indore titled as the cleanest city in India
Indore bags the title of ‘ Cleanest city in India’ followed by Bhopal & Chandigarh according to Swachh Survekshan 2018 survey. Indore was titled cleanest city last year as well but that survey was conducted only for around 430 cities. This time it was conducted for around 4200 cities. Jharkhand has adjudged the best-performing state in the survey followed by Maharashtra & Chhattisgarh.
Kathak dancer Anindita honoured with Jayadev Rashtriya Yuva Puraskar
Ace Kathak dancer Anindita Anaam was presented with the prestigious ‘Shri Jayadev Rashtriya Yuva Pratibha Puraskar 2018’ for her outstanding contribution to the field of art. This award was presented during the ‘Jayadev International Dance Festival’. The festival is organised under the aegis of Odisha’s culture department and National Culture Mission.
Swraj Paul receives lifetime achievement award
Lord Swraj Paul, an NRI industrialist received a lifetime achievement award for his contributions towards promoting brand India in the UK. Paul is the founder of Caparo group industries and was felicitated with this recognition at a UK & Asia Business Awards ceremony, organised by World Consulting & Research Corporation. He has also served as the deputy speaker of the Lords & was appointed to the Privy Council in 2009
Justice Ramalingam Sudhakar appointed as the new Chief Justice
Ramalingam Sudhakar was sworn-in as the Chief Justice of the High Court of Manipur by the president of India. The acting Governor of Manipur Jagdish Mukhi administered the oath of office to Justice Ramalingam Sudhakar.
Uttam Pacharne: New Chairman of Lalit Kala Akademi
The Lalit Kala Akademi gets a new chairman – Artist and sculptor Uttam Pacharne. Currently, he is a member of the advisory committee, Kala Academy, Goa. He is the recipient of National Lalit Kala Award and Maharashtra Gaurav Puraska from Government of Maharashtra. The Lalit Kala Akademi or National Academy of Art is India’s national academy of fine arts.
Shivangi Pathak: Youngest woman to scale Mt. Everest
16-year-old Shivangi Pathak from Haryana has become youngest women of the country to scale Mt Everest. She climbed the Mt Everest to spread the message: “women can overcome any obstacle to achieve their goals”. Previously in the year 2014, 13-year-old Malavath Poorna from India had climbed Mt Everest from Tibet side and became the youngest girl in the world to the summit at Everest.
Anil Kumar Jha appointed CMD of Coal India Ltd
Anil Kumar Jha has been appointed as the Chairman-Cum-Managing director (CMD) of Coal India Limited. Anil Kumar is at present the CMD of Mahanadi Coalfields Ltd. Anil Kumar will replace acting chairman Suresh Kumar, an IAS officer, who has been holding the post of additional secretary at the ministry of coal. CIL is a state-owned coal mining company headquartered in Kolkata.
Yeddyurappa resigns as Karnataka CM (All in a week)
The Karnataka government led by B.S. Yeddyurappa resigned before facing a crucial trust vote in the assembly. The floor test was to be conducted after Congress-JD (S) alliance claimed the right to form the government on the basis of the 117 seats it had. BJP with 104 seats, was eight short of the majority-mark of 111.
Andhra IT Minister awarded: Digital Leader of the Year
Andhra Pradesh Minister for IT, Panchayat Raj & Rural Development, Nara Lokesh received the Digital Leader of the Year award during Businessworld Digital India Summit 2018. The award was announced for best utilisation of technology in governance. Lokesh won the award for using cutting edge technology & yielding good results in Panchayat Raj, Rural Development & Rural Water Supply departments
Automatic Recurring Payments feature introduced by PayTm
Paytm has introduced automatic recurring payments, a new feature that lets users configure the payments app to pay for periodic recurring expenses automatically. Similar to standing instructions for bank accounts, the ‘My Payments’ feature can be used for high-value payments for a variety of cases. The company expects the feature to significantly boost bank-to-bank transactions on the Paytm app.
Mahendra Singh Dhoni: Brand ambassador of Netmeds
Online pharmacy Netmeds has appointed cricketer Mahendra Singh Dhoni as its brand ambassador. The company, which has positioned itself as ‘India ki Pharmacy’, chose Dhoni due to his strong appeal across all sectors and all demographics. Netmeds currently has an inventory of 35,000 stock keeping units (SKUs) of prescription drugs and 5,000 SKUs of OTC products.
Nick Read – Next CEO of Vodafone Group
Vodafone Group has announced that Nick Read will be the next CEO of the company, succeeding Vittorio Colao. Colao steps down after just over 10 yrs in the job, during which he transformed Vodafone from a pure mobile player into a converged operator owning multiple cable & fibre networks. Vodafone owns & operates networks in 26 countries & has partner networks in over 50 additional countries.
Lewis Hamilton Wins Spanish Grand Prix
Mercedes’ Lewis Hamilton has extended his lead at the summit of the Formula One championship after a crushing win at the Spanish Grand Prix. Finland’s Valtteri Bottas was second while the Dutch Max Verstappen stood third. It was the first one-two of the season for Mercedes, which had been slower than Ferrari in the past few races.
Heena Sidhu wins gold
Indian shooter Heena Sidhu clinched the gold medal in the women’s 10m air pistol at the International Shooting Competitions 2018 in Hannover, Germany. Heena was in a rollicking form in the final where she was tied with France’s Mathilde Lamolle on 239.8 points. She won the tie to win the gold ahead of Mathilde. The finish marks a strong build-up to next week’s ISSF World Cup in Munich.
These were some of the most recent news in the past week. Stay tuned with HashLearn for more weekly current affairs updates.