Current Affairs Daily Updates: 17th August 2017

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Current Affairs Daily Updates: 17th August 2017
APPOINTMENTS
Karur Vysya Bank appoints P R Seshadri as MD and CEO
  • Karur Vysya Bank (KVB) appointed Shri P R Seshadri as Managing Director & Chief Executive Officer of the Bank.
  • He replaced K Venkataraman.
  • He is appointed for the period of three years.
AWARDS AND HONOURS
Corporation Bank bagged Best performance award from NABARD Awards commitee
  • Corporation Bank bagged the best performance awards for SHG-bank linkage program for Karnataka for 2015-16 and 2016-17 from National Bank for Agriculture and Rural Development (Nabard).
  • The bank was given the award for its overall performance under SHG-bank linkage program for 2015-16 and 2016-17 among commercial banks operating in Karnataka.
  • The bank formed more than 1.32 lakh self-help groups (SHGs).
Karnataka Vikas Grameen Bank won the Best Performer Award
  • National Bank for Agriculture and Rural Development (NABARD) conferred the ‘best performance award’ for 2015-16 and 2016-17 to Karnataka Vikas Grameen Bank (KVGB) for its work in the field of credit-linking joint liability groups (JLGs).
  • The outstanding accounts under JLGs stood at 6,329 involving an amount of Rs 63.83 crores.
  • JLGs(Joint Liability Group) were credit-linked by disbursing Rs 19.38 crore during 2016-17.
BANKING AFFAIRS
RBI Makes Aadhaar Linkage Mandatory for Farmers
  • Reserve Bank of India (RBI) made Aadhaar linkage mandatory for availing short-term crop loans up to Rs 3 lakh in 2017-18.
  • The advice to all public and private sector scheduled commercial banks was sent through a RBI notification on the "Interest Subvention Scheme for Short Term Crop Loans during the year 2017-18".
  • In order to get the free benefits to farmers under interest subvention scheme, the banks are advised to make Aadhaar linkage mandatory for availing short-term crop loans.
State Bank of India gives Leg-up to CSR Initiatives
  • State Bank of India launched a CSR (Corporate Social Responsibility) initiative, SBI Gram Seva, which will work in the areas of health, education, environment and rural infrastructure.
  • The SBI Foundation will identify and partner with NGOs to carry out CSR initiatives under which it adopts five villages each from 10 village panchayats with each village getting around Rs 2.40 crore over the next three years.
  • Initially, 10-gram panchayats comprising of 50 villages in six states have been adopted.
City Union Bank offers instant credit cards
  • City Union Bank is going to offer instant credit cards and customers can generate a credit card online.
  • The bank introduced the option of an “instant credit card” for free for its Net banking customers.
  • The physical delivery of the card will take a day or two. In the meantime, the card-holder can use it for online purchases.
  • CUB has tied-up with MasterCard for the instant credit card.
IMPORTANT DAYS OBSERVED
Parsi New Year and Navroz celebrated across the world
  • Parsi New Year, Navroz is being celebrated across the world.
  • The festival is celebrated by follows of Zoroastrianism in Middle-East, USA and South Asian countries such as India and Pakistan.
  • The vibrant festival began 3,000 years back by the mighty emperor Jamshed, who introduced the new calendar in Persia.
  • The day is celebrated to gain health, wealth, prosperity, and productivity. Four ‘Fs’ - Fire, Fragrance, Food, and Friendship play an important role in the celebration.
INTERNATIONAL AFFAIRS
Italy to Host G7 Interior Ministers' Summit on Security
  • Italy will host a summit of G-7 interior ministers centered on security issues.
  • According to Italian Interior Minister Marco Minniti, the meeting is being organized at the request of Italy's G-7 partners namely Canada, France, Germany, the United Kingdom, Japan and the United States.
  • The summit is expected to be held in October.
NATIONAL AFFAIRS
Union Cabinet approved raising of over 9000 crores through NABARD for Completing Irrigation Project
  • Union Cabinet approved raising extra budgetary resources up to 9,020 crore rupees for Long Term Irrigation Fund in 2017-18 under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY).
  • According to Finance Minister Arun Jaitley, the amount will be raised by National Bank for Agriculture and Rural Development  (NABARD) through Bonds.
  • The loans are for implementation of Accelerated Irrigation Benefits Programme works of 99 ongoing prioritized irrigation projects.
CCEA approves procedure and mechanism for Strategic Disinvestment
  • The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi approved the revision in the procedure and mechanism for strategic disinvestment.
  • In this regard, the proposal was forwarded by the Department of Investment and public Asset Management (DIPAM).
  • DIPAM is the nodal agency of Union Finance Ministry mandated to advise the Union Government in the matters of the financial system.
Union Cabinet approves creation of a single non-lapsable corpus fund for Secondary
  • The Union Cabinet of Prime Minister Shri Narendra Modi accorded its approval today for the creation of a non-lapsable pool in the Public Account for secondary and higher, education is known as "Madhyamik and Uchchtar Shiksha Kosh" (MUSK) which all proceeds of "Secondary and Higher Education Cess" are credited.
  • The funds arising from MUSK will be utilized for schemes in the education sector which will be available for benefit of students of secondary and higher education.
‘Indira Canteen Scheme’ Launched in Bengaluru
  • Rahul Gandhi launched the ‘Indira Canteen’ scheme, dedicated to former Prime minister Indira Gandhi- a State government initiative to provide food at low cost to cater to the urban poor.
  • The canteen, located in Kanakana Palya (Jayanagar) in Bengaluru, is one of 101 such that opened across various locations in Bengaluru.
SCIENCE AND TECHNOLOGY AFFAIRS
New tectonic plate discovered off the cost of Ecuador
  • According to Rice University scientist, a microplate discovered off the west coast of Ecuador adds another piece to Earth’s tectonic puzzle.
  • The microplate, which they have named ‘Malpelo’ while analysing the junction of three other plates in the eastern Pacific Ocean.
  • The Malpelo Plate, named for an island and an underwater ridge it contains.
SPORTS AFFAIRS
Real Madrid beats Barcelona to win 2017 Spanish Super Cup
  • 'Real Madrid' has won the 2017 Spanish Super Cup (10th title), beat their rivals Barcelona 2-0 at a joyous Santiago Bernabeu.
  • Real Madrid football club is a professional football club based in Madrid, Spain founded on 6th March 1902 as Madrid Football Club.
  • The Spanish Super Cup is a Spanish football championship contested by the winners of La Liga and the Copa del Rey.