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Monday, February 20, 2017

DAILY CURRENT AFFAIRS: 18TH FEB 2017

DAILY CURRENT AFFAIRS: 18TH FEB 2017
(Daily News India)
Shared By: WWW.DailyGk.IN

1. TWO DAY ‘MOMENTUM JHARKHAND’ GLOBAL INVESTOR SUMMIT 2017 CONCLUDED IN RANCHI
i. The 2 day Global Investors’ Summit 2017 was held at Khelgaon in Ranchi, Jharkhand from Feb 16-17, 2017 with the brand name ‘Momentum Jharkhand’.
ii. Its main aim is to promote industrial activity in Jharkhand and establish the state as one of the prime investment destination of Eastern India.
iii. Union Finance Minister Arun Jaitley inaugurated the Summit while PM Narendra Modi addressed the summit through video-conferencing.
iv. A Flying Red Elephant was the mascot for the Jharkhand’s Global Investors Summit 2017.
v. On the concluding day of the 2017 Global Investors Summit 209 MoUs were signed between nine departments of the Jharkhand government worth Rs 3,03,987 cr with different companies.

2. GOVERNMENT INCREASES THE CASH CREDIT LIMIT FOR MSMES TO 30 %
i. The Union government has increased the Cash Credit limit for Micro, Small and Medium Enterprises to 30% of turnover from the existing 20% to encourage them to conduct businesses digitally.
ii. Through digital means of conducting the business, the balance sheet of companies would be clean and this would help MSMEs to get loans from banks and promote Ease of Doing Business.
iii. Presently the taxes for MSMEs are calculated at 8% for revenue of up to Rs 2 cr. With digital transaction, tax liability will be reduced from 8% to 6%.

3. CANARA BANK INKS MOU WITH HRD MINISTRY TO START HIGHER EDUCATION FINANCING AGENCY
i. Bangalore based Public sector Canara Bank has signed a Memorandum of Understanding with the Human Resource Development Ministry to operationalize the Higher Education Financing Agency.
ii. The establishment of the Higher Education Financing Agency was approved by the Union Cabinet in September 2016.
iii. Through this MoU, HRD Ministry and Canara Bank will jointly promote the HEFA with an authorised capital of Rs. 2,000 cr.
iv. The objective of the establishment of HEFA is to enhance and create high quality capital assets and infrastructure in the premier educational institutions.
v. HEFA would finance the civil and lab infrastructure projects through a 10-year loan.
vi. HEFA would leverage the equity to rise up to Rs. 20,000 cr for funding infrastructure and development projects for world class Labs in IIMs/IITs/NITs and such other institutions.

4. KARNATAKA BANK LAUNCHES NATIONAL PENSION SYSTEM IN MANGALURU
i. Mangaluru based private sector lender Karnataka Bank Ltd launched National Pension System at its corporate office in Mangaluru.
ii. Its aim is to provide financial security at old age by giving regular income in the form of pension.
iii. Under the scheme, one can contribute to NPS while earning and eventually start receiving pension on his/her attaining the age of 60 years to meet their financial needs.
iv .To avail the benefit, any individual between the ages 18-60 years can register their name with the bank branch to contribute and to get pension benefit.
v. The investor can avail of the exemption to the extent of Rs 50,000 under section 80 CCD 1 even though they are contributing towards any other pension schemes.

5. VETERAN HINDI SCHOLAR AND NOVELIST SURENDRA VERMA SELECTED FOR 2016 VYAS SAMMAN
i. Renowned Hindi literature and playwright Surendra Verma has been selected for 2016 Vyas Samman for his novel “Kaatna Shami Ka Vriksha Padma Pankhuri Ki Dhar Se”.
ii. Surendra Verma will be the 26th recipient of the honor and would be presented a cash prize of Rs. 3.50 lakh a citation and a logo for the prestigious award instituted by K K Birla Foundation.


6. CORPORATION BANK BAGS 2017 NATIONAL MSME EXCELLENCE AWARD
i. Mangalore based public sector lender Corporation Bank was awarded the 2017 National MSME Excellence Award at a function in New Delhi.
ii. D V Subramanya Varma, General Manager of Corporation Bank received the award from Haribhai P Choudhary, Union Minister of State for Micro Small and Medium Enterprises.
iii. The award is instituted by the Federation of Industry, Trade and Services.
iv. Corporation Bank provides various facilities to MSME sector like online facility for revival and rehabilitation of MSME, online loan facility for MSME borrowers, Concessions and collateral free loans up to Rs 2 Cr under Credit Guarantee Scheme.
v. Concessions in interest rate are also offered to women beneficiaries and rated MSME units. Besides, the bank has also organized campaign for growth of MSME sectors.

7. BANKS BOARD BUREAU APPOINTS EIGHT EXECUTIVE DIRECTORS IN VARIOUS BANKS
i. 8 Executive Directors have been appointed in various public sector banks on the recommendations of Banks Board Bureau.
i. Atanu Kumar Das  and Neelam Damodharan have been appointed as EDs in Bank of India.
ii. The General Manager in Indian Overseas Bank, K Swaminathan has been appointed as ED in Indian Overseas Bank.
iii. Ashok Kumar Pradhan has been appointed as the ED in United Bank of India.
iv. P Ramana Murthy will be Executive Director of Central Bank of India.
v. M K Bhattacharya has been appointed as the EDs of Indian Bank and S Harishankar who serves as CGM of State Bank of Travancore has been appointed EDs of Allahabad Bank.
 vi. Fareed Ahmed Khan, General Manager of Corporation Bank, has been appointed as the ED in Punjab and Sind Bank.

OBJECTIVE QUESTIONS BASED ON TODAY’S NEWS

Q1. WHICH BANK HAS SIGNED AN MOU WITH THE MINISTRY HUMAN RESOURCE DEVELOPMENT TO OPERATIONALIZE THE HIGHER EDUCATION FINANCING AGENCY?
a)  Canara Bank
b)  Andhra Bank
c)  Allahabad Bank
d)  Bank of India
Q2. WHO HAS BEEN APPOINTED AS THE EXECUTIVE DIRECTOR OF INDIAN OVERSEAS BANK?
a)  P Ramana Murthy
b)  M K Bhattacharya
c)  S Harishankar
d)  K Swaminathan
Q3. WHICH BANK HAS WON THE 2017 NATIONAL MSME EXCELLENCE AWARD?
A)  Andhra Bank
b)  Canara Bank
c)  Corporation Bank
d)  Dena Bank
Q4. THE 2017 GLOBAL INVESTORS’ SUMMIT WAS HELD IN WHICH CITY OF JHARKHAND?
a)  Bokaro Steel City
b)  Ranchi
c)  Jamshedpur
d)  Dhanbad
Q5. WHICH RENOWNED HINDI SCHOLAR HAS BEEN NAMED FOR THE 2016 VYAS SAMMAN?
a) Kamal Kishore Goyenka
b)  Sunita Jain
c)  Surendra Verma
d)  Vishwanath Tripathi

ANSWERS: 

1 - A    2 - D    3 - C    4 - B    5 - C

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