Bolt-April-2020
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oliveboard April 2020 Monthly Current Affairs CLICK HERE TO PREPARE FOR IBPS, SSC, SBI, RAILWAYS & RBI EXAMS IN ONE PLACE Bolt is a series of GK Summary ebooks by Oliveboard for quick revision oliveboard.in www.oliveboard.in Table of Contents Banking .......................................................................................................................................................................... 3 Economy ........................................................................................................................................................................ 6 National ......................................................................................................................................................................... 9 International............................................................................................................................................................. 16 State .............................................................................................................................................................................. 19 Sports ............................................................................................................................................................................ 22 Agreements ............................................................................................................................................................... 24 Schemes ...................................................................................................................................................................... 25 Appointments ........................................................................................................................................................... 26 Awards ......................................................................................................................................................................... 30 Ranks & Reports ..................................................................................................................................................... 31 Important Days ....................................................................................................................................................... 33 Summit & Conferences ....................................................................................................................................... 36 Science & Technology ......................................................................................................................................... 37 Defence ........................................................................................................................................................................ 42 Books & Authors ..................................................................................................................................................... 42 Miscellaneous ........................................................................................................................................................... 43 Obituary ....................................................................................................................................................................... 44 Person in news ........................................................................................................................................................ 47 Insurance .................................................................................................................................................................... 49 India & World ........................................................................................................................................................... 49 Environment .............................................................................................................................................................. 50 Apps & Portals ......................................................................................................................................................... 50 Acquisitions & Mergers ....................................................................................................................................... 53 www.oliveboard.in www.oliveboard.in Banking 1. Public sector banks announce deferment of EMI payments on loans The RBI had earlier issued directions asking lending institutions to allow a three-month moratorium on loan payments. Banks like SBI, Punjab and Sind Bank, Canara Bank, BoB have announced the offer of the moratorium to customers. CNB is providing collateral & margin free loan up to ₹20L to SHG. 2. Mega-merger of PSU banks to be effective from today; 6 banks cease to exist 6 PSU lenders will be merged into 4 to make them globally competitive. Following the consolidation, there will be 7 large PSBs & 5 smaller ones. The merger will result in the creation of 7 PSBs with each amalgamated entity having a business of over ₹8L cr. Sec 45 of Banking Regulations Act allows RBI for mergers. 3. Affordable housing firm Aavas gets $60m from ADB ADB has signed an agreement to lend up to $60 million to Aavas Financiers Ltd to improve access to housing finance for lower-income borrowers, particularly women. Aavas is one of the largest housing finance companies in India’s affordable housing segment. Aavas CEO – Sushil Kumar Agarwal Headquarters –Jaipur, Rajasthan 4. RBI asks banks to inform about re-appointment cases of MD, CEOs six months in advance RBI asked private sector and foreign banks to intimate it 6 months in advance in cases of re- appointment of MD and chief executives as against the present practice of 4 months Also proposals for appointment. of new MD and CEO should contain at least 2 names. The revised format is aligned to requirements of Companies Act. 5. ADB expects India's economic growth to slow down to 4% in FY21 According to Asian Development Bank, India's economic growth is likely to slow down to 4% for FY21. Also, growth in India will remain subdued after the country suffered a sharp slowdown last year, from 6.1% in fiscal 2019 to 5%. Asian Development Bank has 68 member countries. 6. Moody's revises Indian banking system outlook to negative Rating agency Moody’s revised the outlook for the Indian banking system to negative from stable, citing disruptions in economic activity caused by the COVID-19 outbreak and an ensuing decline in asset quality. Chairman of Indian Banks Association: Rajnish Kumar. 7. RBI reduces trading timings of currency and debt markets In view of the COVID-19 outbreak, beginning April 7th, markets dealing with government securities, call/notice/term money, corporate bonds, foreign currency, Rupee Trades, commercial paper and Certificates of Deposit will be working from 10 AM to 2 PM. Other banking services (NEFT, RTGS) will continue like before. 8. RBI announces 3rd targeted LTRO for Rs 25,000 crore To ensure adequate liquidity in the system, RBI announced the third targeted long-term repo operation (TLTRO) for ₹25,000 crore and will conduct TLTROs of up to 3-year tenor of appropriate sizes for a total amount of up to ₹1,00,000 crore. Shorter duration govt bond yields plunged after RBI's LTROs. 9. ADB to invest $ 100 million in Infra sector via NIIF ADB announced $100 million funding for the Indian Infrastructure sector through the government promoter NIIF. ADB is investing in NIIF’s ‘fund of funds’, which means that the actual money invested is a few times more than the committed sum. NIIF MD and Chief: Sujoy Bose. 10. IndusInd Bank taps CPPIB, GIC to raise $500 million IndusInd Bank and its promoter the Hinduja Group have initiated talks with sovereign wealth funds and pension funds, including Canada’s CPPIB and Singapore’s GIC Ltd, to raise $500 million. It has been one of the most impacted banks due to COVID-19. Canada Pension Plan Investment Board-CPPIB Singapore Company-GIC 11. Govt nominates Indian Overseas Bank for collecting donations for PM Cares Fund Indian Overseas Bank has been nominated by the government for collection of funds, which will be used to support the community and will be assigned to PM-CARES Fund. The contributions can be made by RTGS, NEFT etc., IOB HQ: Chennai IOB Tagline: Good People to Grow With. 12. SIDBI to provide emergency working capital of up to Rs 1 crore to MSMEs The Small Industries Development Bank of India will provide emergency working capital of up to one crore rupees to small and medium enterprises (MSMEs). The limit of SAFE loans has been enhanced from 50 lakh rupees to two crore rupees. SAFE–SIDBI Assistance to Facilitate Emergency. Interest Rate-5%. www.oliveboard.in www.oliveboard.in 13. RBI eases norms for state govts, extends overdraft facility RBI relaxed norms for state govt facing short-term mismatches by extending the duration of overdraft facility until 30 September. The number of days for which a state or UT can avail this is extended to 21 working days from the current 14 days. No. of days for a quarter increased to 50 working days from 36. 14. BoB launches four schemes for Agri Sector To help borrowers in the agriculture sector Bank of Baroda has announced schemes where it will offer additional loans of up to ₹1 lakh to existing self-help group (SHG) borrowers and up to ₹50,000 to existing crop loan borrowers. BoB is India’s third largest Public Sector Bank. 15. HDFC Bank’s Mobile ATMs