Daily GK Updates - 6th May, 2017

NATIONAL UPDATES:

1. Maharajas’ Express to begin new circuits 'Southern Sojourn' & 'Southern Jewels': Indian Railway Catering and Tourism Corporation (IRCTC) has decided to launch two new circuits (Southern Sojourn & Southern Jewels) of its flagship luxury train Maharajas' Express this year. The ‘Southern Sojourn’ will cover Goa, Hampi, Mysore, Ernakulam, Kumarakom and Trivandrum. The ‘Southern Jewel’ will cover Chettinad, Mahabalipuram, Mysore Hampi and Goa. 

2. Madhya Pradesh assembly declares 'Narmada' living entity: The Madhya Pradesh govt. has passed a resolution granting river Narmada (1312-km-long) the status of a living entity and committed itself to the protection of its legal rights. Earlier in its judgment, the Uttarakhand High Court had declared Ganga, Yamuna and their tributaries living entities with the status of a legal person.

3. 34 MoUs worth Rs 2 lakh crores signed at India Integrated Transport & Logistic Summit: According to the Union Minister for Road Transport and Highways Nitin Gadkari, MoUs worth 2 lakh crore Rupees have been signed at three-day India Integrated Transport and Logistic Summit in New Delhi. Total 34 investment pacts committed and more than 15 pertain to setting up multi-modal logistics parks by state governments.

4. Assam declared as ‘Disturbed’ Area under AFSPA for 3 more months: The government has declared the entire Assam as a “disturbed” area under the Armed Forces (Special Powers) Act for another 3 months. As per the notification, the entire Assam besides bordering areas of Meghalaya has been declared as “Disturbed Areas”. In addition, the government has placed three districts of Arunachal Pradesh, namely, Tirap, Changlang and Longding and other areas falling under 16 police stations bordering Assam as “disturbed” area under the AFSPA.

INTERNATIONAL UPDATES:

1. China’s C919 Passenger Jet completed its Maiden Flight: China’s home-grown C919 passenger jet has completed its maiden flight. China’s C919 is a symbol of China’s ambitions to take market share from Boeing and Airbus in the lucrative global jet market estimated to be worth $2 trillion over the next two decades. It is a part of China’s broader “Made in China 2025” plan aimed at boosting its domestic high-tech manufacturing.

2. Nepal's Supreme Court orders reinstatement of Chief Justice Sushila Karki: Nepal's first woman Chief Justice Sushila Karki has resumed office after the Supreme Court (SC) ordered her reinstatement and directed Parliament to put on hold the impeachment motion against her. The court issued the order saying that the impeachment move was against the spirit of the country's Constitution.

OTHER UPDATES:

SPORTS:

1. Lionel Messi's suspension lifted by FIFA: The world soccer's ruling body FIFA (Federation Internationale de Football Association) has lifted a four-match international suspension on Argentina forward Lionel Messi. Earlier, he was banned for insulting an assistant referee during a qualifier against Chile in March. The decision based on television images as the incident was missed by match officials.

BANKING & FINANCE:

2. RBI makes substantial changes in norms for dealing with stressed loans: The Reserve bank of India (RBI) has made substantial changes in the norms for dealing with stressed loans and warned the banks they will be penalized for missing Non-Performing Assets (NPA) resolution timelines. Any non-adherence to these instructions and timelines specified under the Framework shall attract monetary penalties on the concerned banks. Earlier, the union government has notified an ordinance empowering the Reserve Bank to issue directions to banks to initiate insolvency resolution process in case of a default under the Insolvency and Bankruptcy Code, 2016.

3. Heads of 7 PSU Banks Appointed: In a major restructuring in the banking sector, Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi appointed heads of seven public sector banks besides shifting managing directors of PNB and Bank of India. PNB Managing Director (MD) Usha Ananthasubramanian has been appointed as the head of Kolkata-based Allahabad Bank. Melwyn Rego of Bank of India will head the Syndicate Bank. Rajkiran Rai G, currently executive director of Oriental Bank of Commerce will head Union Bank of India as its MD and CEO for a period of three years. R Subramaniakumar, currently executive director of Indian Overseas Bank, has been made as its MD and CEO. Sunil Mehta, currently the executive director of Corporation Bank will head the PNB in place of Usha Ananthasubramanian. The executive director of Canara Bank Dinabandhu Mohapatra will be the MD and CEO of Bank of India. R A Sankara Narayanan, currently executive director of BoI will be the MD and CEO of Vijaya Bank.

4. RBI tightens Rules for JLFs: The Reserve Bank of India (RBI) has tightened the rules around making the Joint Lenders’ Forum (JLF) more effective, directing banks not to break any rules and to meet all deadlines. The RBI has said that any breach of rules would attract a monetary penalty.