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♦ Allahabad Bank, Corporation Bank out of RBI’s weak-bank watch list
- The RBI on Tuesday lifted lending curbs on two more public sector banks (PSBs) – Allahabad Bank and Corporation Bank – by removing them from its weak-bank watchlist.
- Private sector Dhanlaxmi Bank too has been taken out of the Prompt Corrective Action (PCA) Framework.
- Earlier on January 31, Bank of India, Bank of Maharashtra and Oriental Bank of Commerce were taken out of the PCA Framework.In a statement, the RBI said the Board for Financial Supervision (BFS) reviewed the performance of banks under PCA and noted that the government has infused fresh capital on February 21 into various banks, including some of the banks currently under the PCA framework.
- Of these banks, Allahabad Bank and Corporation Bank had received ₹ 6,896 crore and ₹ 9,086 crore, respectively.
- Capital infusion, the RBI said, has shored up their capital funds and also increased their loan loss provision to ensure that the PCA parameters were complied with.
♦ Indra Nooyi joins Amazon’s Board of Directors
- PepsiCo’s India-born former CEO Indra Nooyi has joined Amazon’s board of directors, the online retail giant has said.
- Ms. Nooyi, who stepped down as CEO of Pepsico in October last year, is the second woman of colour to be added on the Amazon’s board of Directors.
- Early this month, Starbucks executive Rosalind Brewer joined the Amazon Board.
- “We’re thrilled to have elected two new members to our Board of Directors this month. Welcome, Roz Brewer and Indra Nooyi,” Amazon said in its announcement.
- Ms. Nooyi will be a member of the audit committee.
- She was Pepsico CEO from October 2006 to October 2018, where she also served as the Chairman of its board of directors from May 2007 to February 2019.
♦ OIC invites India as ‘guest of honor’ for first time
- India overcame a five-decade-old hurdle to get itself invited to Organisation of Islamic Conference (OIC) meet through deft diplomatic moves, back-channel negotiations and widening engagement not only with just with the UAE but also across the Islamic World.
- While the UAE, as the host of March 1-2 OIC foreign ministers’ meet, felt that India’s global stature and strong Islamic component must be honoured, Bangladesh, backed by Turkey, suggested that India should play a bigger role in OIC.
- “The friendly country of India has been named as the guest of honour in view of its great global political stature as well as its time-hounoured and deeply rooted cultural and historical legacy, and its important Islamic component,” the UAE government said on Saturday, announcing an invite to India for OIC foreign ministers’ meet.
- It was last year that there were clear signs that dynamics within the OIC were changing for the first time. At the OIC foreign ministers’ meet in Dhaka in 2018, Bangladesh joined Turkey to seek reforms of the 57-nation grouping, including a suggestion for reforming the body. At that meet, Bangladesh succeeded in pushing a declaration to this effect with the help of Turkey.
♦ PM Modi attends Gita Aradhana Mahotsav at ISKCON
- Prime Minister Narendra Modi on Tuesday attended the Gita Aradhana Mahotsav at ISKCON-Glory of India Cultural Centre, East of Kailash, New Delhi.
- At the event, Prime Minister unveiled the Bhagavad Gita, prepared by ISKCON devotees to the world. Measuring over 2.8 meters and over 800 kg, the Bhagavad Gita is one of the kind in the world.It has the original verses of Bhagavad Gita along with commentary. Prime Minister turned a page of the Bhagavad Gita to mark its official opening. Addressing the gathering on the day Indian Air Force attacked the terror camps in Pakistan’s Balakot, the Prime minister said that the God alwys stood with people fighting against the evil.
- The God is always with us to wipe out the enemies of humanity from the face of this earth. This is the message we are trying communicate to the evil souls and demons, with proof, the PM said at Delhi’s ISKCON temple. Pm Modi had taken metro from Khan market on his way to ISKON temple.
♦ Manpreet Singh named 2018 Player of the Year by Asian hockey body
- Indian skipper Manpreet Singh has been honoured with the 2018 Player of the Year award by the Asian Hockey Federation while women’s team striker Lalremsiami bagged the Rising Player of The Year prize.
- Manpreet led the Indian team to an unbeaten streak at the Asian Champions Trophy in Muscat where the team was declared joint winners with Pakistan.
- He also contributed to the team’s silver medal win at the FIH Champions Trophy in Breda and continues to remain instrumental in the Indian midfield.
- The 18-year-old Lalremsiami, on the other hand, has shown remarkable progress in the women’s team with her impressive performance as a striker at the 2018 World Cup, the Asian Games where the team won a historic silver
♦ Sanath Jayasuriya banned for two years for breaching ICC Anti-Corruption Code
- Former Sri Lanka batsman Sanath Jayasuriya was on Tuesday banned for two years after admitting to obstruct an anti-corruption probe by tampering with evidence sought by the International Cricket Council (ICC).
- Jayasuriya admitted breaching the anti-corruption unit (ACU) code of the global body on two separate counts.
- “As a result of the admissions, he has accepted a sanction of a two-year period of ineligibility,” the ICC stated.
- Jayasuriya is a former Sri Lankan captain who was also a key member of the 1996 World Cup winning team. He later served two terms as the chairman of selectors.
- Jayasuriya was questioned as part of the ICC’s investigation of wide-scale corruption in Sri Lankan cricket.
♠Vocabulary (The Hindu)♠
- HOODWINK (VERB): (छलना)to deceive someone
Synonyms: mislead, swindle
Antonyms: support, safeguard
Example: Insurance deals often hoodwink customers by making hollow promises.
- DAINTY (ADJECTIVE): (सूक्ष्म)delicately small and pretty
Synonyms: petite, cute
Antonyms: ugly, repulsive
Example: The puppy’s dainty nose looked very cute, convincing everybody’s to love it.
- ABLUTION (NOUN): (स्नान, मज्जन)the act of washing
Synonyms: cleansing, decontamination
Antonyms: contamination, pollution
Example: Ritu performed the ablution of the wound and applied some disinfectant to avoid further infection.
- AMBLE (VERB): (टहलना)to walk casually
Synonyms: stroll, wander
Antonyms: rush, dash
Example: Kanika rather ambled through the halls than attend the session.
- RAKISH (ADJECTIVE): Charming:(बाँका)
Synonyms: dashing, raffish
Antonyms: boorish, adhesive
Example: He is a rakish man.
- COHORT (NOUN): Companion:(संगी)
Synonyms: comrade, partner
Antonyms: opponent, adversary
Example: Adivasis and their cohort made the violent protest.
- WEAKENED (ADJECTIVE): Depleted:(कमज़ोर)
Synonyms: exhausted, tired
Antonyms: energetic, invigorated
Example: His eyes were looking painstakingly weakened.
- SUBLIME (ADJECTIVE): Magnificent:(उत्कृष्ट)
Synonyms: glorious, heavenly
Antonyms: inferior, lowly
Example: The function we attended took place at a sublime lodge.
Close Test Based On The Hindu Editorial
The big fight: poll pacts in Tamil Nadu
In Tamil Nadu, political alliances for the Lok Sabha election are ……..(1)………. into place as in a jigsaw. The real fight, as it has been over the last four decades, is between the two major regional parties, the AIADMK and the DMK; but the BJP and the Congress have ensured that they have skin in the game, giving the contest a national flavour. While the BJP virtually forced its way into the AIADMK camp, the Congress drove a hard bargain for seats in the DMK-led alliance. Through four elections from 1996 to 2004, the AIADMK had ………(2)…….. between the Congress and the BJP, before contesting 2009 and 2014 without either of them for company. In 2014, the go-it-alone strategy yielded rich dividends: the party won 37 of the 39 seats. For the party to now give away five seats to the BJP and another seven to the Pattali Makkal Katchi is therefore a climbdown. But the AIADMK is more interested in ………(3)……. power in the State. The party is running the government on a wafer-thin majority after a revolt by the faction led by T.T.V. Dhinakaran. Alongside the Lok Sabha election, by-elections to 21 Assembly constituencies are likely to be held. For Chief Minister Edappadi K. Palaniswami, winning these seats is more important than a few more Lok Sabha constituencies in Tamil Nadu. With the BJP on board, the AIADMK can hope to have a stake in a government at the Centre, but even more important for the party is the tie-up with the PMK. With its concentrated support base in the northern districts of the State, the PMK could be of ………(4)……… help in at least eight seats where by-elections are due.
The alliance with the BJP and the PMK also helped the AIADMK win the battle of perceptions with Mr. Dhinakaran’s Amma Makkal Munnetra Kazhagam. In the public eye, the AIADMK, as a sought-after ally, is now the bigger of the two parties. For the DMK, the tie-up with the Congress is part of its visualisation of a larger national canvas. In India’s coalition era, the DMK has had an important role to play: the party was part of governments led by different ………(5)………. of parties. If indeed the AIADMK government lasts its full term until 2021, the DMK would very much like to have some levers of power at the Centre. The party was in power either at the Centre or in the State for most of the 15 years from 1996 till 2011, and it would like to avoid a second consecutive loss in the Lok Sabha election after two successive defeats in the Assembly elections. Moreover DMK president M.K. Stalin knows this is his first big test after the passing of his father and party patriarch M. Karunanidhi. For him, the stakes are just as high in the Lok Sabha election.
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