Current Affairs Updates - 15th May 2018

Daily Current Affairs Updates - 15th May 2018

In our today's Current Affairs Updates for 15th May 2018 we have brought to you the best Current Affairs Article where you will find all kinds of News Headlines in description. These have been framed into different sections like Banking, Schemes, Obituary, National Affairs and Summit. We have formulated this entire article keeping the aspirants of Banking, SSC, Railway and other competitive exams in mind. We shall also bring to you the One Liner GK and Static Note Down Points along with the  Daily Current Affairs Quiz. These are very vital and aspirant should definitely go through these in details.

First in India & World

An Australian mountaineer Steve Plain  scaled Mount Everest on Monday, completing his quest to climb the highest peaks on all seven continents in record time.

• Australian climber Steve Plain scaled 8,850-metre (29,035-foot) Everest 117 days after beginning his mission in Antarctica. 

Committees in News

A parliamentary panel headed by veteran BJP leader Murali Manohar Joshi today decided to study the recovery of black money and performance of public sector banks among a host of subjects.

• The 30-member Estimates Committee, in a meeting, decided to study a host of subjects related to various ministries in the year 2018-19.
• As per the memorandum of the committee, the panel will look into the import of uranium for nuclear plants, mining activities and environment, upgrading of India Post offices and the drought situation in the country among other matters.

Banking, Economic & Financial Affairs

The government initiated the process to remove Allahabad Bank CEO Usha Ananthasubramanian and two executive directors of the PNB

• Following the government’s directive, which came within hours of CBI filing a chargesheet in the country’s biggest banking fraud case, the PNB board divested its two executive directors, K.V. Brahmaji Rao and Sanjiv Sharan, of all financial and executive powers.

Snapping a three-month easing streak, retail inflation for April accelerated to 4.58% on the back of quickening core inflation

• Inflation measured by the consumer price index (CPI) quickened in April following three months of an easing trend during which growth in the index had slowed to 4.28% in March, the lowest it had been since October 2017. 

The Reserve Bank of India (RBI) has barred state-run Allahabad Bank from extending fresh loans, under it’s prompt corrective action (PCA) framework, after the lender fell short of minimum capital adequacy ratio (CAR) requirement.

• According to RBI norms, Allahabad Bank had breached the first risk threshold for capital which is breach of either CAR or common equity tier 1 (CET1) ratio. 

State-run lender IDBI Bank has informed the stock exchanges that two independent directors — Ninad Karpe and S. Ravi — have quit the board.

• In a filing with the BSE, the bank said that they had sent their resignation letters last week. 

Fino Payments Bank launched a suite of digital products that can be accessed online and through mobile phones.

• The latest initiatives include Unified Payments Interface (UPI), BHIM app - using which customers can access UPI and make P2P payments, net banking, digi savings account which can be opened with only Aadhaar number and PAN card, and FasTag for making digital payments at toll plazas on national highways.

Paytm introduced automatic recurring payments, a new feature that lets users configure the payments app to pay for periodic recurring expenses automatically.

• Similar to standing instructions for bank accounts, the ‘My Payments’ feature can be used for high-value payments for a variety of cases.

National Affairs

SDA Bocconi School of Management launches its Asia Center in Mumbai

• The SDA Bocconi School of Management based in Milan, Italy (ranked 29th worldwide for its Global MBA program by Financial Times in 2018) inaugurated its presence in India in 2012 with MISB Bocconi, catering mostly to Indian students.

Jet Airways said its maiden service under the regional connectivity scheme would begin on June 14 on the Lucknow-Allahabad-Patna route.

• On June 15, the airline will commence operations between New Delhi and Nashik, and a day later also start flights on the Nagpur-Allahabad-Indore sector.

Cabinet reshuffle: Piyush Goyal to take over Finance Ministry, Smriti Irani moved out of I&B

• The Union government announced a sudden Cabinet reshuffle on Sunday and gave Minister of Railways Piyush Goyal the additional charge of Union Finance Ministry.

Union Petroleum and Natural Gas Minister Dharmendra Pradhan and UAE Minister of State & Abu Dhabi National Oil Company (ADNOC) Group CEO Dr. Sultan Al Jaber flagged off first consignment of 2 million barrels of ADNOC crude for Mangalore Cavern

• Both sides discussed on the ongoing cooperation in the hydrocarbon sector and explored ways to further enhance the engagement.

Indo-Tibetan Border Police (ITBP) to get more men and material

• The Union government has decided to boost the manpower and infrastructure of the Indo-Tibetan Border Police (ITBP) by creating nine new battalions, a strategic sector headquarters on the front, a dozen patrol camps and 47 new border outposts along the China border over the next few years.

The South Asia Wildlife Enforcement Network (SAWEN), an inter-governmental wildlife law enforcement agency, in its first ever meeting in India, adopted many resolutions to curb wildlife crime in the region

• At the two-day conference held here from May 8-10, representatives of seven out of eight countries participated, and the members agreed on having an operational framework for strengthening the regional body to combat wildlife crime.

Science & Technology

The India Meteorological Department (IMD) will add 30 Doppler radars in the next two-three years across the country, of which several will be in the northeast

• Doppler radars provide precise information about thunderstorms, dust storms, hailstorms, rainfall and wind patterns. With a radius of 250km, they help in issuing nowcasts 2-3 hours prior to severe weather events.

Scientists at the Indian Space Research Organisation (ISRO) have reported progress in the development of an environment-friendly propellant to power satellites and spacecraft.

• The effort is to replace the conventional hydrazine rocket fuel, a highly toxic and carcinogenic chemical, with a greener propellant for future missions. 

Defence & Railway News

The State’s maritime security ship Vikram arrives in New Mangalore from Chennai

• The State’s maritime security received a shot in the arm on Sunday with the arrival of the Indian Coast Guard’s new state-of-the-art offshore patrol vessel, Vikram, commissioned in Chennai on April 11, at its base port, New Mangalore.

Agreements/ MoUs Signed

The Thiruvananthapuram Corporation inked a pact with IPE Global Limited for the project management consultancy of the Corporation’s Smart City project.

• As per the agreement, the consultancy will have the responsibility of planning, designing, and management of each project. The contract period is for the next three years.

The World Bank (WB) is going to provide Bangladesh a grant to meet the basic needs of around one million Rohingyas who fled their homeland Myanmar.

• The World Bank has agreed to provide Bangladesh the full fund as grant money at its spring meeting held in April in the US

Merger & Acquisitions

The government approved the merger of the local unit of Norway’s Telenor with Bharti Airtel, clearing the last hurdle for the deal to go through.

• In a notification on Monday, the Department of Telecom (DoT) said it had transferred all licences and liabilities of Telenor India to Bharti Airtel.

Summit /Conference / Events

Prime Minister Narendra Modi will meet President Vladimir Putin in the Russian city of Sochi on May 21 for an informal summit

• This will be an important occasion for the two leaders to exchange views on international matters in a broad and long-term perspective with the objective of further strengthening our special and privileged strategic partnership. 

Awards & Honours: Sports

Lewis Hamilton wins Spanish Grand Prix to stretch lead in F1 title race

• For the British driver and Mercedes this was the controlled and perfectly orchestrated race they have craved all season.

Awards & Honours: Miscellaneous

Lata Mangeshkar conferred with Swara Mauli award

• Melody queen Lata Mangeshkar  was honoured with the Swara Mauli title by spiritual guru Vidya Narsimha Bharati Swami last evening here.

Other Sports & Award Related News

Former World record-holder Heena Sidhu announced her readiness for the next World Cup in Munich with a gold medal in air pistol at the international shooting championship here.

• P. Shri Nivetha, who topped qualification with an impressive 582, settled for bronze after missing a better medal by 0.3 point.

Obituary 

Eminent physicist Sudarshan dead

• Ennackal Chandy George Sudarshan, popularly known as E.C.G. Sudarshan, who made path-breaking discoveries in the realm of quantum optics died aged 86 in Texas on Monday morning.

Noted Malayalam actor ‘Kalasala’ Babu (67) died at a private hospital in Kochi

• Hospital authorities said he was ailing for some time and his condition worsened by Sunday. The actor is survived by wife Lalitha, daughter Sreedevi and son Viswanathan.

Noted lyricist, poet Balkavi Bairagi dies

• Noted Hindi film lyricist, Nandram Das Bairagi, popularly known as Balkavi Bairagi, died in his sleep on Sunday evening, his son said.