Daily GK Updates - 17th March, 2019

NATIONAL UPDATES:

1.Goa CM Manohar Parrikar passes away :  Goa Chief Minister Manohar Parrikar (63-years) passed away in Panaji on 17th March 2019 after a prolonged illness. Parrikar was diagnosed with a pancreatic ailment in February last year. Since then, he received treatment at various hospitals across Mumbai, New Delhi, Goa and the US.

The popular leader would be remembered for his efforts in infrastructure and education development in the state and bringing the International Film Festival of India to Goa in 2004. for his role as the union defence minister and his dynamism

2.  Former SC Judge Justice PC Ghose to be India's first Lokpal :  Former Supreme Court Judge Justice Pinaki Chandra Ghose is set to be India's first anti-corruption ombudsman of India. His name was finalised and recommended by the Selection Committee comprising Prime Minister Narendra Modi, Chief Justice Ranjan Gogoi, Lok Sabha Speaker Sumitra Mahajan and eminent jurist Mukul Rohatgi. Congress leader in the Lok Sabha Mallikarjun Kharge, who is part of the committee, did not attend the meeting. His was among the top 10 names shortlisted by the Lokpal Search Committee. Justice Ghose's appointment has come nearly five years after the Lokpal Act was notified on January 16, 2014.

INTERNATIONAL UPDATES:

1. 3rd edition of Namaste Thailand festival held in New Delhi :  The 3rd edition of Namaste Thailand festival was held in New Delhi The festival aimed at strengthening bilateral ties and increasing cultural exchange between India and Thailand. Along with the traditional Thai cuisines, the Namaste Thailand festival featured a series of Thai craft activities which include mulberry paper mini umbrella making, fan painting, body paint, and button badge making.

OTHER UPDATES:

BUSINESS/ECONOMY:

1. Fresh NPAs to moderate in FY'20-ICRA :  According to the ratings firm Icra; fresh NPAs in the banking sector are expected to moderate to 1.9 to 2.4 perc ent in FY'20.

Icra expects gross NPAs of the banking sector to 8.3 lakh crore or 7.9 per cent for March 2020, as compared to estimated 9.2 per cent as of March 2019. Icra has revised the ratings outlook of four public sector banks from negative to stable including, Bank of India, Bank of Maharashtra, Punjab National Bank and Oriental Bank of Commerce. It revised upward, the outlook for IDBI Bank from negative to ‘Rating watch with developing implications’.

BANKING/FINANCE:

1. SBI, ICICI, HDFC Bank to remain as Domestic Systemically Important Banks (D-SIBs)-RBI : SBI, ICICI Bank and HDFC Bank continue to be in the Reserve Bank of India’s list of Domestic Systemically Important Banks (D-SIBs) for 2018. The Reserve Bank of India released the list of Domestic Systemically Important Banks (D-SIBs) on 14th March 2019. As per the notification, SBI, ICICI Bank, and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs), under the same bucketing structure as last year.

2. J&K Bank to sell a stake in PNB Metlife for  185 cr :  Jammu and Kashmir Bank said it proposes to sell its stake in PNB Metlife India to private equity player Oman India Joint Investment Fund II for ₹ 185 crore. According to the J&K Bank, bank has executed share purchase agreement with Oman India Joint Investment Fund II for sale of 4.1 crore shares of PNB MetLife India Insurance Company Ltd. Jammu and Kashmir Bank holds 5 per cent stake in the insurance venture.

SPORTS:

1. Dominic Thiem beats Roger Federer to win Indian Wells title : Australia's Dominic Thiem defeated Switzerland's Roger Federer in the men's singles final of the BNP Paribas Open in California. He defeated Federer 3-6,6-3,7-5 in the final. With this win he claim his first ATP Masters 1000 crown. With this win, Thiem is set to become fourth in the world rankings on Monday. It was his first win since September 2018.

OBITUARIES:

1.  Former Minister Y.S. Vivekananda Reddy dead : Former Member of Parliament and State minister Y.S. Vivekananda Reddy (68-years) passed away in Kadapa. He was the younger brother of former Chief Minister Y.S. Rajasekhara Reddy (YSR) and uncle of YSR Congress Party president Y.S. Jagan Mohan Reddy. He won Pulivendula assembly constituency twice (in 1989 and 1994) and represented Kadapa Lok Sabha in the parliament twice In 2009, he was elected as MLC and given the portfolio of Agriculture after YSR passed away in Kiran Kumar Reddy cabinet.