(National) Current Affairs 15-21 Mar, 2019

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IDBI Bank categorized as Private Sector Lender

  • The Reserve Bank of India categorized IDBI Bank as a Private Sector Bank with effect from January 21, 2019 following Life Insurance Corporation of India (LIC) acquiring 51 per cent of the total paid-up equity share capital of the bank.
  • IDBI Bank has been under the Prompt Corrective Action (PCA) framework of RBI which bans it from corporate lending, branch expansions, salary hikes and other regular activities.

Further Reading

SBI, ICICI and HDFC named as Systemically Important Banks

  • Reserve Bank of India named State Bank of India, ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs). 
  • RBI comes with the list every year since 2015. D-SIBsare banks too big to fail, whose failure would result in significant disruption to the banking system and the overall economy.
  • Inclusion in the list gives additional comfort to investors that these banks won’t be allowed to fail and therefore, borrowing costs of these banks from the markets are cheaper than their peers.
  • As per the norms, these banks will have to set aside more capital for their continued operation.
  • Last week, the Reserve Bank of India (RBI) declared HDFC Bank Ltd to be a domestic systemically important bank (D-SIB).

Further Reading

Shah Faesal Launched ‘Jammu and Kashmir People’s Movement’

  • Shah Faesal, 2010 batch civil servant who had resigned from his post this year, launched his political party ‘Jammu and Kashmir Peoples’ Movement’(JKPM) in Jammu and Kashmir.
  • The motive behind this movement is to bridge the distance between New Delhi and Islamabad in order to resolve the Kashmir dispute.
  • Party slogan – “Ab Hawah Badlegi” (Now winds will change directions)”

Further Reading

Leeladhar Jagudi Honoured with Vyas Samman 2018

  • Hindi writer from Uttakhand Leeladhar Jagudi honoured with Vyas Samman 2018 for his collection of poems “Jitne Log Utne Prem” published in 2013. 
  • The Vyas Samman, started in 1991 by K K Birla foundation is given to an “outstanding literary work” in Hindi authored by an Indian citizen which has been published in the last decade. The award carries an amount of 4 lakh.
  • Mr. Jagudi was awarded the Padma Shri in 2004 apart from other awards, including the Sahitya Akademi Award

Further Reading

Justice PC Ghose Appointed India’s first Lokpal

  • Former Supreme Court judge Justice Pinaki Chandra Ghoseappointed as the country’s first Lokpal.
  • Among others, the current Chief Justice of Chhattisgarh High Court Ajay Kumar Tripathi have been appointed as judicial members under the Lokpal.
  • His name was finalized and recommended by a Selection Committee led by Prime Minister Narendra Modi and comprising Chief Justice Ranjan Gogoi, Lok Sabha Speaker Sumitra Mahajan and eminent jurist Mukul Rohatgi.
  • The government was prompted to make the selection after the Supreme Court set a February-end deadline.

Further Reading

Gauri Sawant Designated First Transgender Election Ambassador

  • 38-year-old transgender activist Gauri Sawant from Mumbai has been appointed as first transgender election ambassador by The Election Commission of India.
  • The highest enrolment of transgenders (324) is in Mumbai North Lok Sabha constituency.
  • There was no separate classification of transgenders as voters till 2014 but after that transgenders were first enrolled as voters along with males and females.

Further Reading

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