DAILY GK 4 AUG 2019

DAILY GK 4 AUG 2019

1. PARLIAMENT PASSED AIRPORTS ECONOMIC REGULATORY AUTHORITY OF INDIA (AMENDMENT) BILL 2019

✔Parliament passed the Airports Economic Regulatory Authority of India (Amendment) Bill, 2019 which amends the Airports Economic Regulatory Authority of India Act, 2008.

✔The new bill increases the threshold of annual passenger traffic for major airports to over 35 lakh from 15 lakh. It is increased as the number of air traffic passengers has been increased 117 million from 2008 to 345 million.

✔Tariff determination: Under the Act, AERA is responsible for determining the tariff for aeronautical services at different airports every 5 years, development fees of major airports, and the service fee of passengers. 

2. WORLD’S FIRST ULTRA-FAST HYPERLOOP PROJECT GRANTED TO MAHARASHTRA

✔The infrastructure project status worth $10billion was granted to Maharashtra by India, to establish the world’s first ultra-fast Hyperloop project.

✔This project stretching over 117.5km, will link Mumbai with the neighbouring city of Pune and travels to the destination in about 35 minutes.

✔Hyperloops freight at speeds up to 1200 km per hour using magnetic to levitate pods inside an airless tube.

3. RS.1.5 CRORE SLAPPED ON BANK OF INDIA BY RBI

✔Penalty of Rs.1.5 crore was fined on Bank of India over “non-compliance with direction on frauds” in Rotomac group companies.

✔The penalty amount was ordered to be paid within 14 days of receipt of RBI’s order.

✔Further 7 more banks were imposed penalty for violating norms. They are Allahabad bank (Rs.2 crore), Bank of Maharashtra (Rs.2 crore), Indian Overseas Bank ( RS.1.5 crore), Oriental Bank of Commerce( Rs.1crore), Union Bank of India(Rs.1.4 crore), Bank of Baroda ( Rs.1.5 crore).

✔Corporation bank was fine Rs.1crore for non-compliance with RBI directions on cybersecurity.

4. SBI’S SHANGHAI BRANCH BECOMES THE 1ST INDIAN BANK CONNECTED TO CNAPS

✔The State Bank of India’s Shanghai branch is now connected to China’s National Advance Payment System (CNAPS).

✔SBI is the only Indian bank to have obtained the license to do business in local currency and also inducted to the CNAPS by the People’s Bank of China.

✔SBI Shanghai can also offer the real-time transfer of local funds within China by routing them through the PBOC. The CNAPS, launched in 2008 by People’s Bank of China provides real-time settlement services for all payments.

5. SIDDHARTHA MOHANTY TAKES CHARGE AS MD&CEO OF LIC HOUSING FINANCE

✔Siddhartha Mohanty has assumed charge as MD & CEO of  LIC Housing Finance, one of the largest housing finance companies in India.

✔He replaces Shri Vinay Shah.