Daily GK Update: 14 & 15 March 2020, Daily Current Affairs 2020:
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National (Current Affairs)
♦New website of Ministry of New and Renewable Energy launched; has additional portals such as ‘Akshay Urja Portal’ and ‘India Renewable Idea Exchange’
- The Ministry of New & Renewable Energy R K Singh has launched its new website to meet requirements of stakeholders about new schemes and projects particularly. The key feature of the website includes optimized user interface and enables ease of access from various devices including mobile phones.
- The website has additional portals such as ‘Akshay Urja Portal’ and ‘India Renewable Idea Exchange’ (IRIX).
- Benefit: The new website is developed looking into the present need of quick and accurate information dissemination needs of the Ministry with latest techniques to make it more informative, interactive and user friendly including persons with visual disabilities
Banking and Financial
♦RBI lowers single, group borrower limit for urban cooperative banks
- The Reserve Bank of India (RBI) on 13th March lowered the single borrower and group exposure limit for urban cooperative banks (UCBs) to 15% and 25% of tier I capital, respectively, to reduce concentration risks arising out of such large loans. Existing norms allowed 15% for single borrowers and 40% to group exposures of a bank’s total capital, including tier I and tier II capital.
- While the revised exposure limits will apply to all fresh loans, the banks will have to bring down their existing exposures down to the revised limits by 31 March 2023.
- UCBs should have at least 50% of their aggregate loans and advances of not more than ₹25 lakh, or 0.2%, of their tier I capital, whichever is higher, up to a maximum of ₹1 crore, per borrower.
- UCBs which do not, at present, comply with these norms need to conform by 31 March 2024.
Note: About Policy Rate
- Repo Rate-5.15%
- Reverse Repo Rate-4.90%
- Marginal Standing Facility(MSF) Rate-5.40%
- Bank Rate-5.40%
- Cash reserve Ratio(CRR)- 4%
- Statutory Liquidity Ratio(SLR)-18.50%
♦Centre appoints Justice Bansi Lal Bhat as officiating Chairperson of NCLAT
- The Central government has appointed Justice (retd) Bansi Lal Bhat as the officiating Chairperson of the National Company Law Appellate Tribunal (NCLAT).
- As per the notification issued by the Ministry of the Corporate Affairs, Government of India, Justice Bhat will act as the officiating Chairperson of NCLAT for a period of three months with effect from March 15 or until a regular Chairperson is appointed, or until further orders, whichever is earlier.
- Presently, Justice Bansi Lal Bhat is a Member (Judicial) of NCLAT. He is a former Judge of the Jammu & Kashmir High Court.
♦Sunil Mehta to be Non-Executive Chairman, Prashant Kumar to be MD & CEO of YES Bank
- RBI superseded YES Bank board, the government, notifying the YES Bank Reconstruction Scheme 2020, dissolved the office of administrator, appointing new board members of the private lender.
- Prashant Kumar, former chief financial officer and deputy managing director of State Bank of India. He has also been appointed as Chief Executive and Managing Director of the private lender. Kumar was earlier appointed as the YES Bank administrator.
- Sunil Mehta, former non-executive chairman of Punjab National Bank, has been appointed as non-executive chairman of YES Bank.
Note: List of Bank’s CEO
- Bank of Baroda-Sanjiv Chadha
- Bank of India-Atanu Kumar Das
- Bank of Maharashtra-A. S. Rajeev
- Canara Bank-Lingan Venkat Prabhakr
- Central Bank of India-Pallav Mahapatra
♦Arfa Khanum Sherwani, Rohini Mohan Win Chameli Devi Jain Award for Women Journalists
- The Wire‘s senior editor Arfa Khanum Sherwani and freelance journalist Rohini Mohan have jointly won the Chameli Devi Jain Award for Outstanding Women Mediaperson, 2019.
- The award is given annually to an outstanding woman mediaperson.
♦ Saurashtra Beat Bengal To Clinch Maiden Ranji Trophy Title 2019-20
- Saurashtra won their maiden Ranji Trophy title on the back of their first innings lead against Bengal in the final played at the Saurashtra Cricket Association Stadium. It is their first-ever win in the history of India’s premier domestic competition.
♦ATK Win Record Third ISL Title, Beat Chennaiyin 3-1 In Final
- ATK claimed an unprecedented third Indian Super League (ISL) title triumph with a 3-1 victory over arch-rival Chennaiyin FC in a summit showdown that was played behind closed doors in Margao on 14th March.
- The final was held without spectators owing to the COVID-19 pandemic.
♦14 March: International Pi Day
- International Pi (π) day is observed on 14 March. The day was chosen as 3, 1, and 4, which are the first three significant digits of π.
- Pi is one of the most well-known mathematical constants. It is the ratio of a circle’s circumference to its diameter. It is represented by the lower-case Greek letter π.
Note: Latest Important Day
- 21st February– International Mother Language Day
- 22nd February – World Thinking Day
- 24th February– Central Excise Day
- 27th February– World NGO Day
- 27th February– National Science Day
♦15th March: World Consumer Rights Day
- Every year March 15 is celebrated as World Consumer Rights Day to spread awareness about a consumer’s rights and needs. It is an annual occasion, observed on a global level to protect the rights of consumers and to ensure that the consumer’ are not subjected to market abuse or social injustice that may undermine their rights.
- Theme 2O2O: “The Sustainable Consumer”
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