Hello and welcome to exampundit . Here are the Important Current Affairs of 23rd November, 2016. These are important for the upcoming IBPS Clerk, IPPB Mains and NICL AO Mains Exam 2016.
Current Affairs at a Glance – 23rd November, 2016
- Bharti Airtel announced the launch of the
first payments bank (Airtel Payments Bank Ltd) as a pilot in Rajasthan
on Wednesday. To begin with, the pilot project will run in 10,000 Airtel retail
outlets in Rajasthan where customers will be offered an interest rate of 7.25
per cent on deposits in savings account. Airtel Payments Bank is the first one to launch the
services out of the 11 companies that got licenses from the Reserve Bank last
year. According to analysts, such a move can be a win-win for the
company after the Centre’s demonetisation move. - Drug major Sun Pharmaceutical Industries Ltd on Wednesday said it has entered into an
agreement to acquire Russian pharma
company JSC Biosintez for $24 million. - The Reserve Bank of India (RBI) on 21 November 2016 relaxed the prudential
norms on income recognition, asset classification and provisions pertaining to
advances. The decision came following the withdrawal of the legal
tender of 500 and 1000 rupees notes. - The Union Finance Ministry on 18 November 2016 constituted a committee with an aim of
assessing the status of implementation of demonetisation drive in the country.
The committee comprises of Additional
Secretaries, Joint Secretaries and Directors with each team consisting of up to
two or three officers for each State and Union Territory (UT). - India on 21 November 2016 became an
Associate Member State of European Organization for Nuclear Research (CERN) by
signing an agreement with the organisation. The agreement was signed by Sekhar Basu,
Chairman of Atomic Energy Commission and CERN Director General Fabiola Gianotti
in Mumbai. - The 13th World Robot Olympiad will be held
in India for the first time ever. It will be organised jointly by
NCSM under the aegis of Ministry of Culture and India STEM Foundation (ISF)
from 25 November to 27 November 2016 at the India Expo Mart, Greater Noida. - US President Barack Obama on 22 November
2016 presented the Presidential Medal of Freedom, the nation’s
highest civilian honour, to 21 artists, sports figures, scientists and
philanthropists. Among the honourees were Robert Redford, Bill and Melinda Gates, Tom Hanks and
Diana Ross.
Finance/Banking –
Airtel launches payments bank pilot in Rajasthan
- Doing the right thing at the
right time and reaping the fruits, may well become a reality for Bharti Airtel
– which announced the launch of the first payments bank (Airtel Payments Bank
Ltd) as a pilot in Rajasthan on Wednesday. - To begin with, the pilot project
will run in 10,000 Airtel retail outlets in Rajasthan where customers will be
offered an interest rate of 7.25 per cent on deposits in savings account. - Airtel Payments Bank is the first
one to launch the services out of the 11 companies that got licenses from the
Reserve Bank last year. According to analysts, such a move can be a win-win for
the company after the Centre’s demonetisation move. - Payments banks can accept a
restricted deposit that is currently limited to ₹1
lakh per customer account, and cannot issue loans and credit cards, as per RBI.
Both current account and savings accounts can be operated by such banks. - Arora said Airtel already offers
services through the neighbourhood retailer who the customer is familiar with
and through this launch the company was leveraging this network.
Sun Pharma acquires Russian company for $60 million
- Drug major Sun Pharmaceutical
Industries Ltd on Wednesday said it has entered into an agreement to acquire
Russian pharma company JSC Biosintez for $24 million. - The Indian company will also
assume Russian company’s debt of $36 million, Sun Pharma said in a statement. - The total deal size works out to
$60 million ($26 million for 85.1 per cent equity stake and $36 million Russian
company’s debt). - According to Sun Pharma, the
acquisition will be done by its wholly owned subsidiary. - Biosintez is a Russian pharmaceutical
company focusing on the hospital segment with annual revenues of approximately
$52 million for 2015.
RBI relaxes prudential norms on Income Recognition, Asset
Classification
Classification
- The Reserve Bank of India (RBI)
on 21 November 2016 relaxed the prudential norms on income recognition, asset
classification and provisions pertaining to advances. - The decision came following the
withdrawal of the legal tender of 500 and 1000 rupees notes.
Key Highlights
- Taking into consideration the
problems being faced by small borrowers in repaying their loan dues, RBI
decided to provide an additional 60 days time, provided that the value of the
loan or crop loan is less than 1 crore rupees. - Term loans, housing loans and
agriculture loans, whether business or personal, with sanctioned amount of up
to 1 crore rupees on the books of any bank or any NBFC, will be eligible for
relaxation. - Loans sanctioned by banks to NBFC
(MFI), NBFCs, Housing Finance Companies and PACs and by State Cooperative Banks
to DCCBs are also eligible for the same. - It also applies to dues payable
between 1 November 2016 and 31 December 2016. - Dues payable before 1 November
and after 31 December 2016 will be covered by the extant instruction for the
respective regulated entity with regard to recognition of NPAs. - The additional time given shall
only apply to defer the classification of an existing standard asset as
substandard and not for restructuring of loans.
Union Government constitutes committee to review status of
demonetisation drive
demonetisation drive
- The Union Finance Ministry on 18
November 2016 constituted a committee with an aim of assessing the status of
implementation of demonetisation drive in the country. - The committee comprises of
Additional Secretaries, Joint Secretaries and Directors with each team
consisting of up to two or three officers for each State and Union Territory
(UT). - The committee was formed
following the decision of the Union Government to ban 500 and 1000 rupees currency
notes on 8 November 2016.
Terms of references of the
Committee
Committee
- The teams will be constituted by
the Department of Personnel Training and concerned officers. - The teams shall visit the States
or UTs allocated to them for at least 2 days. - Each officer shall visit
different area of State or UT separately with the main focus on rural areas. - Visit the States and union
territories and report back to the Union Government and submit its report by 25
November 2016. - Check currency availability
across the States in the network of bank branches, ATMs and post offices. - Verify facilities at bank
branches and post offices for deposit, withdrawal and exchange of currency.
World –
India becomes Associate Member of CERN, Geneva
- India on 21 November 2016 became
an Associate Member State of European Organization for Nuclear Research (CERN)
by signing an agreement with the organisation. - The agreement was signed by
Sekhar Basu, Chairman of Atomic Energy Commission and CERN Director General Fabiola
Gianotti in Mumbai. - In 2015, the Union Cabinet gave
its approval for the Membership of CERN following which the CERN Council has
accepted India as an Associate member.
India’s Contribution in CERN
- The participation of Indian
scientists in CERN dates back to early 1960s and it became stronger with the
support of Department of Atomic Energy (DAE) and Department of Science and
Technology (DST). - In 1991, DAE signed a formal
agreement with CERN which exists till today. - In 2003, India was awarded the
Observer status of CERN and was subsequently invited to join CERN as an
Associate Member - India made significant
contributions to the construction of Large Hadron Collider (LHC), in the areas
of design, development and supply of hardware accelerator systems and its
commissioning. - India is also one of the leading
partners in the ALICE experiment which is about to unearth the physics of
quark-gluon plasma (QGP).
World Robot Olympiad to be held for the first time in India
- The 13th World Robot Olympiad
will be held in India for the first time ever. It will be organised jointly by
NCSM under the aegis of Ministry of Culture and India STEM Foundation (ISF)
from 25 November to 27 November 2016 at the India Expo Mart, Greater Noida. - More than 2000 students from 54
countries will participate in the event to find innovative ways, using robotic
technology, to reduce, manage and recycle waste. - The theme for the 13th World
Robot Olympiad is Rap the Scrap. The theme is in line with ‘Swachh Bharat
Mission’ of the Indian government. The theme suggests students to Rap (talk)
about waste – an important social issue. The students are expected to come up
with innovative ideas using robotics technology to ‘Rap the Scrap’ i.e. to
reduce, manage and recycle waste.
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Appointments –
Pankaj Patel elected President of FICCI
- The Federation of Indian Chambers
of Commerce and Industry (FICCI) on 21 November 2016 announced Pankaj R. Patel
as its newly elected President for 2017. - Patel will take over from
Harshavardhan Neotia during the FICCI AGM to be held on 16 December and 17
December 2016 in New Delhi. Neotia is the Chairman of Ambuja Neotia Group.
Awards & Honors –
Barack Obama awards Presidential Medals of Freedom
- US President Barack Obama on 22
November 2016 presented the Presidential Medal of Freedom, the nation’s highest
civilian honour, to 21 artists, sports figures, scientists and philanthropists. - Among the honourees were Robert
Redford, Bill and Melinda Gates, Tom Hanks and Diana Ross. - Kareem Abdul-Jabbar – He is an
American retired professional basketball player who played 20 seasons in the
National Basketball Association for the Milwaukee Bucks and Los Angeles Lakers. - Ellen DeGeneres – She is an
award-winning comedian who has been hosting her popular daytime talk show, The
Ellen DeGeneres Show, since 2003. - Robert De Niro – He is an
American actor and producer who has both Italian and American citizenship. - Richard Garwin – He is an
American physicist, widely known to be the author of the first hydrogen bomb
design. - Tom Hanks – He is an American
actor, comedian and filmmaker. - Michael Jordan – He is an
American retired professional basketball player.
Obituaries –
Renowned Hindi & Bhojpuri writer Dr Viveki Rai passes away
- Dr Viveki Rai, the renowned Hindi
and Bhojpuri litterateur, died on 22 November 2016 in a hospital in a hospital
in Varanasi, Uttar Pradesh. He was 92. - His works mainly depict rural
life of India. His first story was published in 1945 in the then popular newspaper
Aaj. He also wrote several articles and columns in magazines and news papers
too.
Former ISRO Chairman MGK Menon passes away
- Renowned physicist MGK Menon
passed away on 22 November 2016. He was 88. - Menon had a major role in the
development of science and technology in India over 50 years. One of his most
important contributions was nurturing the Tata Institute of Fundamental
Research in Mumbai.
Veteran Carnatic Music exponent Balamuralikrishna passes away
- M. Balamuralikrishna, an Indian
Carnatic vocalist, died on 22 November 2016 in Chennai. He was 86.
Balamuralikrishna, a recipient of Padma Vibhusan, was suffering from
age-related geriatric problems. - Hailing from the Sankaraguptham
village in East Godavari district of Andhra Pradesh, Balamuralikrishna began
his musical journey at the age of 8. Since then, he has performed in over 25
thousand concerts.
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