Welcome to ‘Weekly Current Affairs news’ from HashLearn. In this article, all the IBPS, SSC and CLAT students can get acquainted with the top events that made headlines during the week of 23rd – 29th April and prepare for their respective ‘General Awareness’ section. Read on as we will be covering all the important Bank related, International, National, Business and Sports news.
Important News from Banking Sector
RBI eases rules for foreign investors
RBI has removed the restriction that limited foreign investors to only investing in government and corporate bonds with tenures of three years or more. This decision can bolster the domestic bond market. The move comes after weak investor interest in two recent auctions that led to a spike in sovereign debt yields. At an auction of a 7.37 percent 2023 bond, the Reserve Bank of India was only able to sell about 430 million rupees out of the 30 billion on offer into the market, with the remainder having to be bought by primary dealers.
RBI liberalized ECB norms
RBI has further liberalized norms for external commercial borrowing that will allow Indian companies to access cheaper funds from overseas markets. According to new norms, RBI has stipulated a uniform all in cost ceiling of 450 bps over benchmark rate. RBI also decided to increase the ECB Liability to Equity Ratio for ECB raised from direct foreign equity holder under automatic route to 7:1.
Axis Bank posts first loss since 1998
Axis Bank has reported a net loss of Rs 21.88 billion for the quarter ended March 2018. This is the first time the bank has posted quarterly loss since its listing in 1998. The loss has been attributed to higher provisioning for bad loans. The lender substantially raised its provisioning to cover for bad loans and contingencies during the quarter to Rs 71.79 billion.
BoI inks pact with NeSL
Bank of India has entered into an agreement with National E-Governance Services (NeSL) for Information Utility arrangement under the Insolvency and Bankruptcy Code. As per the agreement, BoI will avail NeSL service to expedite corporate insolvency resolution process. In September 2017, the Insolvency and Bankruptcy Board of India registered NeSL as the first Information Utility.
Axis Bank picks Egon Zehnder to find new CEO
Axis Bank has appointed global recruitment firm Egon Zehnder to find a successor for MD and CEO Shikha Sharma.In December 2017, the bank’s board had approved the reappointment of Ms Sharma for three years, but early this month she said that she would step down in December 2018. Axis Bank is the third largest private-sector banks in India.
Important Current Affairs News
Mario Benitez elected as Paraguay’s president
Conservative former senator Mario Abdo Benítez has been elected as the president of Paraguay. Benitez garnered 46.46% of the vote, compared with 42.73% for his main rival Efrain Alegre. He is the son of the late private secretary of dictator Alfredo Stroessner, who ruled Paraguay for 35 years.
France approved the controversial immigration bill
French National Assembly has passed a new immigration law that tightens the rules around the asylum. Bill shortens asylum application deadlines, doubles time for which illegal migrants can be detained & 1-year prison sentence for entering France illegally. France received a record 100,000 asylum applications last year.
Six countries suspend membership in UNASUR
Argentina, Brazil, Chile, Colombia, Paraguay and Peru announced that they would indefinitely suspend their participation in the meetings of the Union of South American Nations (UNASUR). UNASUR was officially founded in 2008 in Brasilia between 12 governments in South America. The remaining active UNASUR members are Venezuela, Bolivia, Ecuador, Uruguay, Guyana and Suriname.
World Malaria Day observed on 25th April
World Malaria Day is observed on April 25 every year to recognise the global effort to control malaria and also to spread awareness about the around the world. The theme for this year’s Malaria Day is ‘Ready to beat Malaria’. It was in May 2007 that the 60th session of the World Health Assembly decided to establish the World Malaria Day.
North, South Korea agree to end Korean War in a historic accord
The end of the Korean War followed a historic summit between the leaders of the two Koreas. South Korean President Moon Jae-in and his North Korean counterpart, Kim Jong Un, signed the “Panmunjom Declaration for Peace, Prosperity and Unification on the Korean Peninsula,” while standing in the demilitarized zone (DMZ) that has divided the two countries for more than six decades.
Saudi Aramco appoints the first woman to the board
Saudi Arabia’s Aramco, the world’s top oil company has appointed its first female board member among five new members to its board of directors. Lynn Laverty Elsenhans, the former chairwoman, president and CEO of U.S. oil refiner Sunoco is the first female board member of Aramco. Elsenhans was named by Forbes as one of the world’s most powerful women in 2008.
India topped the remittances chart for 2017
According to World Bank, India has retained its position as the top remittances receiving country with its diaspora sending about USD 69 billion back home in 2017. Remittances to India picked up sharply by 9.9% to USD 69 billion in 2017, reversing the previous year’s dip. Remittance inflows improved in all regions and top remittance recipients were India with followed by China & Philippines
India’s first cashless island
Manipur’s Karang has become the first cashless island in the country. Karang, a remote region was cut-off from the (Bishnupur) district due to insurgency for a long time. Incentives were provided for training towards digital payments and five POS machines were installed on the island. An online channel was launched to create awareness about the digital payments.
ISRO to launch a slew of military satellites
Indian Space Research Organisation is gearing up to launch a slew of important satellites in the coming months. Some of these satellites are significant as they will help military keep an eye on our neighbours & safeguard our land & sea borders. ISRO will launch a dedicated satellite, Gsat-7A, for Indian Air Force & an advanced remote sensing satellite, Risat-2A, for surveillance purpose.
Diu Smart City runs 100% on renewable energy
The Diu Smart City has become the first city in India that runs on 100 percent renewable energy during the daytime. The city has developed a 9-MW solar park, besides installing solar panels on the rooftops on 79 government buildings, generating 1.3 MW annually. Diu also offers its residents a subsidy of Rs 10,000-50,000 for installing 1-5-KW rooftop solar panels.
India to host Asian Weightlifting C’ships
Indian will host the prestigious Asian Weightlifting Championship in 2019. The Championship was awarded to India at the Executive Board Meeting and Congress of the Asian Weightlifting Federation held on April 22 at Urgench, Uzbekistan. The last edition of the Asian Championship was held in Ashgabat, Turkmenistan, from April 23-29.
India’s ranking in Press Freedom falls to 138
India’s ranking in the Press Freedom Index has fallen two places to 138. Norway topped the list of having the world’s freest press for the second year in a row. North Korea remained the most repressive country followed by Eritrea, Turkmenistan, Syria and then China.
Paytm Payments Bank registers 100M KYC wallets
Paytm Payments Bank claims that it now has over 100 million KYC -registered wallets which include both complete & minimum KYC. This development comes even as there have been indications in digital payments industry of a sharp fall in mobile-wallet users as customer authentication did not take off. Paytm Payments Bank is owned 51% by Paytm founder Vijay Sharma & 49% by One97 Communications.
NSE launched e-Gsec platform
The National Stock Exchange announced the launch of its e-Gsec platform. The platform will allow retail investors to invest in government securities and hold them in existing demat accounts. The government issues securities to borrow money from the market. The Union budget 2016-17 had announced that RBI will facilitate retail participation in the primary markets through stock exchanges.
Ola to set up Safety Council
Ride-sharing app Ola has set up a first-of-its-kind Safety Council to create a safe, inclusive, and sustainable mobility ecosystem. The Safety Council will act as a catalyst towards supporting the Government’s agenda to halve the road deaths and injuries by 2020. According to the Brasillia declaration, every year, 1.5 lakh people are killed and 5 lakh injured on Indian roads
Mohamed Salah crowned PFA Player of the Year
Liverpool and Egyptian forward Mohamed Salah was named Player of the Year by England’s Professional Footballers’ Association (PFA). Salah was rewarded for his performances which have yielded 41 goals in all competitions since joining from AS Roma last year. Salah has become the first person in Premier League history to claim three Player of the Month awards in the same season.
India bag bronze in Archery World Cup
India ended their campaign with a bronze medal in the compound mixed pair event at stage one of the Archery World Cup here today. In hunt for three bronze medals, India could only succeed in the mixed pair event when Abhishek Verma and Jyothi Surekha Vennam combined to prevail over the Turkish team of Yesim Bostan and Demir Elmaagacli 154-148.
Sumit, Nikhat strike gold at Belgrade Boxing
Sumit Sangwan and Nikhat Zareen were among the three gold-medallists in India’s stupendous campaign at the 56th Belgrade International Boxing Tournament in Serbia. Also claiming a gold was Himanshu Sharma, who defeated Algeria’s Mohammed Touareg 5-0 in his final bout. India ended the tournament with three gold, five silver and five bronze medals in all.
These were some of the most recent news in the past week. Stay tuned with HashLearn for more weekly current affairs updates.