Current Affairs: 16 May 2019

Daily Current GK Update

16 May, 2019

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  1. RBI appoints R Gandhi on YES bank board

The Reserve Bank of India (RBI) has appointed its former Deputy Governor, R Gandhi, on the board of private sector lender YES Bank as an additional director.

The appointment has been done in exercise of powers conferred under sub-section (1) of Section 36AB of the Banking Regulation Act, 1949. The RBI has the power to appoint additional directors on the board of a bank if it feels it is in the interest of the banking company or its depositors.

Source: – The Hindu Business Line

 

  1. MOU signed for Rudraksh plantation in Ganga Basin

A tripartite MoU was signed between National Mission for Clean Ganga, HCL Foundation and INTACH for taking up a project of ‘Plantation of Rudraksh Trees in Uttarakhand’ as a part of CSR initiative under the ‘Namami Gange’ Programme.

The project aims at planting 10,000 Rudraksh trees in the catchment area of river Ganga in Uttarakhand in association with local community and other stakeholders. It will also help in generating income for people residing in those areas.

Source: -Press Information Bureau

 

  1. HDFC partners with IMGC for home loans

Housing finance major HDFC Limited has partnered with India Mortgage Guarantee Corporation (IMGC) to offer a mortgage guaranteed home loan product. The partnership aims to make it possible for HDFC to further penetrate the home loan market and access an enlarged customer base, helping them to own a home of their choice. This product will help HDFC to offer more loan to a home loan customer on enhanced eligibility.

Source: – The Livemint

 

  1. WPI inflation slides to 3.07% in April

Wholesale Price Index (WPI)-based inflation for April eased to 3.07%, from 3.62% in April 2018. The latest WPI print was also lower than 3.18% recorded in March this year. Build up inflation for the financial year so far was 0.75%, lower than 0.86% in the corresponding period of the previous year.

The overall WPI print for April was dragged down by a sharp decline in manufactured products (which accounts for two-third weightage in the WPI basket), which came in at a 30-month low of 1.7% (2.16% in March 2019).

Source: – The Hindu Business Line

 

  1. Indian Navy’s 1st full-Fledged SSB opened at Kolkata

The Indian Navy’s first full-fledged Services Selection Board (SSB) was inaugurated by Navy Chief Admiral Sunil Lanba at Diamond Harbour near Kolkata, West Bengal. Spread over 27 acres on the banks of Hooghly, the SSB (Kolkata) has the capacity to screen 5,000 officer-candidates annually.

The SSB (Kolkata) is located at a place that was previously occupied by a Naval Coastal Battery. This is the fifth SSB of the Indian Navy and will cater for a selection of both permanent and short service commission (SSC) officers. The other boards are located in Bhopal, Bengaluru, Visakhapatnam and Coimbatore.

Source: – Business Standard

 

  1. BharatPe ropes in Salman Khan as brand ambassador

Merchant service and UPI payments app Bharatpe has roped in Bollywood actor Salman Khan as its brand ambassador. The new brand campaign with Khan will be focused towards educating merchants and users about UPI payments along with driving adoption of BharatPe app for all their business needs.

Source: – Business Standard

 

  1. UN imposed sanctions on terror group ISIS Khorasan

The UN has imposed sanctions on terror group ISIS-Khorasan (ISIS-K) for its links with Al-Qaeda and involvement in several attacks in Afghanistan and Pakistan. It is now subject to the assets freeze, travel ban and arms embargo.

The group, formed in 2015 by a Pakistani national and a former commander of the Tehrik-e-Taliban Pakistan, has killed over 150 people. The United Nations Security Council’s 1267 Al Qaeda Sanctions Committee sanctioned Islamic State in Iraq and the Levant – Khorasan (ISIL-K).

Source:- Press Information Bureau

 

  1. Paytm partners with Citibank to launch 1st Credit Card – ‘Paytm First Card’

Digital payments company Paytm, in association with Citibank, launched its first credit card called Paytm First Card. Paytm First Card comes with unlimited cash back and will be accepted in India as well globally.

The card is issued by Citibank and doesn’t involve any hidden fees or charges. An annual fee of Rs 500 will be fully waived off on expenses above Rs 50,000 per year.

Source: – CNBC

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