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.
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.