Current Affairs - September 6, 2017 Current Affairs

The Reserve Bank of India listed HDFC Bank as a domestic systemically important bank (DSIB) under the bucketing structure identified last year. The additional Common Equity Tier 1 (CET1) requirement for D-SIBs already been phased-in from April 1, 2016, and will become fully effective from April 1, 2019.

Fincare Small Finance Bank (previously known as Disha Microfin Limited) this started its banking operations with about 25 operational branches across Gujarat, Tamil Nadu, Karnataka and Andhra Pradesh. The bank was given final small finance bank (SFB) licence from the Reserve Bank of India (RBI) in May this year. On the day of its launch, the bank raised over Rs. 225 crore of deposits from its about 1000-odd depositors. The bank aims to be digitally driven, rural and semi-urban bank, focusing on the priority sectors and retail segments of micro and small enterprises.

Reliance General Insurance has received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) for its initial public offering (IPO). The insurance firm, which is a 100 per cent subsidiary of Reliance Capital, is expected to list during the ongoing fiscal. Reliance Capital plans to dilute about 25 per cent of its holding in the insurer.

China has banned individuals and organisations from raising funds through initial coin offerings (ICO). It allows raising large sums quickly by creating and selling digital "tokens" with little or no regulatory oversight. As per the People's Bank of China Individuals and organisations that have completed ICO fund-raisings should make arrangements to return funds. According to cryptocurrency analysis website Cryptocompare in total, $2.32 billion has been raised through ICOs, with $2.16 billion of that being raised since the start of 2017.

The captain of the Indian basketball team, Amritpal Singh scripted history by becoming the first Indian-born player to be picked up by an Australian NBL team. He had earlier been a part of the four-member Indian contingent of Amjyot Singh, Yadwinder Singh and Vishesh Bhriguvanshi, who had been a part of the National Basketball League (NBL) Draft Combine in Melbourne, Australia earlier this year.

Seychelles became the ninth member and ratifies international solar alliance framework pact. The ISA aims to get at least six more countries on board before October-end. It will need the ratification of just six more countries to become a recognised inter-governmental body. Till now India, France, Nauru, Niger, Fiji, Mauritius, Tuvalu and Bangladesh have ratified the ISA Framework Agreement.

Vice President Venkaiah Naidu gave away the National awards for teachers on Teachers day Function. A total of 219 teachers, including 124 Information and Communication Technology (ICT) teachers, were awarded. He also launched DIKSHA, a national digital infrastructure for teachers. DIKSHA is a customisable national digital infrastructure that states, Teacher Education Institutions (TEI) and private entities can use for their respective teacher-centric initiatives.

ICICI Lombard General Insurance Company has got SEBI's go-ahead for its estimated Rs. 6,000 crore IPO, which could be the first by a general insurer in the country. Two State-run general insurers -General Insurance Corp of India and New India Assurance Company - as also two life insurance firms (SBI Life and HDFC Standard Life) have also lined up IPO plans and are awaiting SEBI's go-ahead for their respective draft papers.

India and Myanmar have signed 11 Memoranda of Understanding (MoUs) agreements in a range of sectors, including one on maritime security cooperation. It also includes one between the Election Commission and Union Election of Myanmar, the national level electoral commission of Myanmar.

Larsen & Toubro, the country's largest engineering firm, has received green nod for expansion of its Powai residential and IT tower projects in Mumbai that will entail an investment of Rs 1,102 crore. The company had received environment clearance (EC) for construction of three wings of IT towers in a total area of 1,49,618.70 sq m.

The theme of the 2017 BRICS Summit is "BRICS: Stronger Partnership for a Brighter Future". Thelogoof the 2017 BRICS Summit resembles both full sails and a rotating earth, painted in 5 colors representing the 5 BRICS countries. The symbolism is two-fold: BRICS countries breaking the waves in the same boat towards a brighter future; and BRICS playing an important role in the global political and economic affairs.

On 5th September every year International Day of Charity is observed world-wide. It was declared in the United Nations General Assembly in 2012. It aims to raise awareness and provide a common platform for charity related activities all over the world for individuals, charitable, philanthropic and volunteer organizations for their own purposes on the local, national, regional and international level.

Union Home Minister Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath flagged off the maiden run of the Lucknow Metro in Lucknow. The services will be opened for public use the next day. The 8.5-km-long 'Priority Corridor' from Transport Nagar to Charbagh, which is part of the Phase-1 of the project, will be operational for the public from 6 am to 10 pm everyday.