Today's GK UPDATE and Current affairs - 15th May 2014

Today's GK UPDATE and Current affairs  - 15th May 2014

1.    RBI panel recommends one-licence policy for all banks

i. The RBI’s vision of a uniform licence regime for the banking sector was proposed in a panel report on Tuesday that recommended a one-licence policy for all banks , irrespective of the ownership pattern.

ii. This will include all public sector, private sector (old and new) and foreign banks operating in India.

iii. Such a licensing regime would also involve uniform investment limits across investor categories, irrespective of ownership. Other than the Government’s own controlling stake, all other investment limits recommended for private sector banks should also thereby be applicable to public sector banks,” RBI said in its committee report.

iv. This was first suggested by the banking regulator in a discussion paper in 2013.

v. This will facilitate larger pools of capital coming into the nationalised banks and assist in improving market valuations. “For distressed public sector banks, it provides the Government with another financing option through the induction of private equity with board representation, a partnership which could also help improve board governance,” the RBI said.

2.    UN Envoy on Syria Lakhdar Brahimi resigned

i. UN Envoy on Syria Lakhdar Brahimi on submitted his resignation to UN Secretary-General Ban Ki-moon in New York. He will relinquish the office on 31 May 2014.

ii. He was also the League of Arab States Special Representative on the Syrian crisis.

iii. He was appointed as the peace-facilitator in Syria on 17 August 2012 to replace the former UN Secretary-General Kofi Annan.

iv. He was also a long-time Special Advisor to the UN Secretary-General and was the Head of the UN Assistance Mission in Afghanistan (UNAMA) from October 2001 to December 2004.

3.    Justice B S Chauhan appointed as the Chairman of CWDT

i. Justice BS Chauhan, the Judge of the Supreme Court of India on was appointed as the Chairman of the Cauvery Water Disputes Tribunal (CWDT). Justice Chauhan will succeed Justice NP Singh. 
ii. Justice Chauhan, who is due to retire on 1 July 2014, was appointed as the Chairman of the Tribunal on the recommendation of the former Chief Justice of India, Justice P Sathasivam.

4.    Kamal Haasan led Indian delegation at 67th Cannes International Film Festival

i. Actor-filmmaker Kamal Haasan led the Indian delegation at the 67th Cannes International Film Festival inaugurated in Cannes, France on 14 May 2014. The Festival will be held from 14 to 25 May 2014.

ii. Kamal Haasan is chairman of Federation of Indian Chambers of Commerce and Industry (FCCI) Media and Entertainment Committee-South.

iii. Kamal Haasan inaugurated the Indian Pavilion. The India Pavilion will showcase Indian cinema across linguistic, cultural and regional diversity.

5.    Technopark–TBI selected for Golden Peacock Award 2014

i. Technopark Technology Business Incubator (T-TBI) on 14 May 2014 was chosen for the Special Commendation at the Golden Peacock National Training Awards 2014.

ii. T-TBI was honoured for its successful conduct of Entrepreneurship training initiatives across the state of Kerala. 

iii. T-TBI is the first business incubator in India to receive the prestigious Golden Peacock award.

6.    CISF inducted as associate member of HI

i. Central Industrial Security Force (CISF) on 13 May 2014 was inducted as an associate member of Hockey India (HI).  The induction of the CISF will enable it to take part in all the National championships.

ii. Hockey India currently has 26 permanent member units, 20 associate members, 2 members through State Olympic Associations, 5 Academy Members and 1 Hoc-Key Member.

7.    April inflation eases to 5.2 per cent

i. Moderating onion prices eased wholesale inflation in April ahead of new government formation. The Wholesale Price Index (WPI) in April rose at the rate of 5.2 percent, according to official data released in New Delhi on Thursday.

ii. The rate of WPI inflation in March was 5.7 per cent. Consumers are unlikely to be able to notice the price changes as the latest available official figures on retail inflation show the rate of price rise was at a three-month high of nearly 8.6 per cent in April against 8.3 per cent in March.

iii. “The headline inflation has shown a dip on the back of moderation in prices of food articles, fuel and power. However, given the recent increase in the diesel prices and uncertain outlook for monsoon, price movements will have to be critically watched going ahead. 

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