Current Affairs News 21st Dec. 2017
Cabinet Approves "Scheme for Capacity Building in Textiles Sector"
The Cabinet Committee on Economic Affairs has given its approval for a new skill development scheme covering the entire value chain of the textile sector excluding Spinning & Weaving in organized Sector, titled "Scheme for Capacity Building in Textile Sector (SCBTS)" from 2017-18 to 2019-20 with an outlay of Rs. 1300 crore.
RBI Puts United Bank of India Under PCA
The Reserve Bank of India has put Kolkata-based United Bank of India under the prompt corrective action (PCA) framework. The additional action points were in the view of high net non-performing assets, low leverage ratio and need to raise capital.
The Union Cabinet chaired by PM Narendra Modi Approves Establishing India's 1st National Rail and Transportation University
PM Narendra Modi has approved the Ministry of Railways' transformative initiative to set up India's first ever National Rail and Transport University (NRTU) in Vadodara, Gujarat to skill its human resources and build capability.
RBI Places Bank of India Under PCA
The Reserve Bank of India has placed Bank of India under the Prompt Corrective Action Framework, consequent to the onsite inspection under the Risk-Based Supervision Model carried out for the year ended March 2017.This is the first time that the central bank has invoked PCA for a large bank of the size of BoI.
CCI Clears IndusInd Bank-Bharat Financial Merger
The Competition Commission of India (CCI) has approved the scheme of amalgamation between IndusInd Bank and Bharat Financial Inclusion.
World Bank Provides Loans of $125 Million for STRIVE Project
The objective of the operation (Skills Strengthening for Industrial Value Enhancement) is to improve access to quality and market-driven vocational training as well as apprenticeships.