DAILY CURRENT
AFFAIRS: 18TH FEB 2017
(Daily News India)
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
