Daily Current Affairs | Daily GK Updates : 25th May 2019
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Current Affairs (National)
♦ Tree Ambulance launched in Chennai
- A unique ‘Tree Ambulance’ service – an initiative to provide care to trees besides spread green cover, was launched by Vice President M. Venkaiah Naidu here on Wednesday.
- The service launched for the first time in the state, aims at providing first aid treatment to trees, uprooted tree planting, seed bank, seed ball distribution, plant distribution, aiding tree plantation, shifting trees, survey of trees and removal of dead trees.
Current Affairs (International)
♦ Cyril Ramaphosa takes oath as South Africa’s President
- Cyril Ramaphosa was sworn in for a five-year term as South Africa’s President on Saturday, with a delicate fight against government corruption ahead of him.
- The inauguration followed his ruling African National Congress party’s 57.5% victory in this month’s election. It was the party’s weakest election showing since the ANC took power at the end of the harsh system of racial apartheid in 1994.
Banking and Finance
♦ Public sector banks recover Rs 1.2 trillion from stressed assets in FY19
- Public sector banks (PSBs) have recovered close to Rs 1.2 trillion from stressed assets during the financial ended March, primarily helped by resolution under the Insolvency and Bankruptcy Code (IBC), an official said.
- During the first half of the previous fiscal, banks recovered Rs 60,713 crore from bad loans.
- “Due to non-resolution of some big accounts referred under NCLT (National Company Law Tribunal), PSBs could not achieve the resolution target of Rs 1.80 trillion. But, these accounts should be resolved in the current financial year,” the official said.
- Banks recovered close to Rs 55,000 crore from the NCLT resolution, the official said.
- “Compared to Rs 74,562 crore in 2017-18, the recovery in the previous financial year nearly doubled to Rs 1.2 trillion,” the official said.
♦ Corporation Bank launches ‘Corp SME Suvidha’ for MSMEs
- Corporation Bank has launched ‘Corp SME Suvidha’, a product for GST-registered MSMEs.
- A press release said that the product has been designed as part of the bank’s efforts to provide best products to MSME sector.
- PV Bharathi, Managing Director and Chief Executive Officer of the bank, launched the product in Mangaluru recently. Gopal Murli Bhagat, Executive Director , and general managers were present on the occasion, the release added.
♦ Akshay Kumar is TAFE’s brand ambassador
- TAFE (Tractors and Farm Equipment) Ltd. has roped in actor Askhay Kumar as brand ambassador for Massey Ferguson tractors. Reputed for its ‘futuristic technology, international styling and ergonomics’, the Massey Ferguson range offers ‘robust performance and uncompromising quality’ with over 125 products and variants, the company said in a statement.
♦ Naveen Patnaik set for fifth term as Odisha CM
- Odisha’s ruling Biju Janata Dal (BJD) headed by incumbent Chief Minister Naveen Patnaik is all set to form a government for a fifth consecutive term.
- A meeting of the newly elected BJD legislators is scheduled to be held on Saturday, and the new Cabinet is likely to be sworn-in on Monday, May 27, party officials said, speaking on condition of anonymity.
- The oath-taking ceremony will be a low key affair as the State is still recovering from the devastation caused by Cyclone Fani, which hit Odisha on May 3.
- The final Election Commission (EC) tally shows that the BJD won 112 of the 146 Assembly seats for which elections were held. The Bharatiya Janata Party (BJP) bagged 23, the Congress nine, the CPI(M) one and a solitary Independent was also elected.
♦ Assam Rifles and Coast Guard personnel to train together
- In a first, the Assam Rifles (AR) would be training together with the Indian Coast Guard to enhance inter-forces cooperation and interoperability.
- The charter of affiliation, in this regard, was signed by the Director General (DG) of the Indian Coast Guard, Rajendra Singh and DG, Assam Rifles Lt Gen Sukhdeep Sangwan on Wednesday.
- “It is a permanent affiliation of Assam Rifles with the Coast Guards. Besides building camaraderie, the training will involve the exchange of information and personnel of the two Forces. They will work together in humanitarian missions and other areas,” said a senior Assam Rifles official, adding that the objective of the affiliation is to promote bilateral cooperation between the two Services and contribute in joint capacity for training, sports, adventure and sustainable development.
♦ India bags 57 medals at India Open International tournament
- India bags a total of 57 medals including 12 Gold, 18 Silver and 27 Bronze at India Open International Boxing tournament in Guwahati.
- MC Mary Kom, Shiva Thapa, L Sarita Devi and Naman Tanwar won gold in their respective finals. The London Olympic bronze medallist blew away the challenge of Vanlal Duati in a facile 5-0 win.
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