Current affairs today October 25 2017 presenting all updates. Aim of our current affairs section is to help you to get high marks in competitive exams you are going to attempt.
RBI imposed Rs2 crore fine on IDFC Bank, Rs6 crore penalty on Yes Bank
Yes bank and IDFC bank have been fined by RBI for amounts Rs 6 Crore and 2 Crore respectively for contravention of regulatory restrictions pertaining to loans and advances.
Details:
Both Yes Bank and IDFC Bank has been fined for various reasons. Yes bank has been slapped as a result of breaking guidelines on classifying non-performing assets and failing to report a security incident that was involved with its ATMs on time. As per RBI warning, Yes Bank violated the Income Recognition Asset Classification (IRAC) rules on managing assessment of bad credits as of March-end 2016.
Madhya Pradesh Shelves Decision to Shift to Jan-Dec Financial Year
Madhya Pradesh Government has decided to put its plan of shifting from April-March Financial year to Jan-Dec financial Year on the back burner. MP was the first state of India to make announcement regarding the shifting of its financial year to Jan-Dec. The state has announced it on May 2, 2017 through Narottam Mishra – Madhya Pradesh Public Relations Minister and government spokesman.
The BJP led MP government has now stated that it will wait for center to implement this first and then after that they will shift to this new financial year methodology.
Madras High Court bans use of living persons Pictures on banners, hoardings in Tamil Nadu
In a major decision related to Tamil Nadu, Madras High Court banned the use of images of alive persons on banners, hordings in Tamil Nadu. The decision came into existence after a Chennai resident named B Thirulochana Kumari has filed a plea in the Madras High Court to regarding removing a party board, banner and a flag erected in front of her home by a Mathi.
Big size posters and hoardings have become a trend in the state. The court strictly directed the top officials of Tamil Nadu to keep the environment clean and also to make sure that there are no unnecessary drawings on buildings and residential places in all wards of the southern state.
Cabinet approves Rs 2.11 lakh Crore public sector banks capitalisation plan
A Rs 2.11 lakh crore public sector banks capitalisation plan for next two years was approved by the government on 24/10/2017 in an effort to clean banks, books and revive investment in a slowing economy.
Details of public sector banks capitalisation plan:
As explained by financial services secretary of India Mr. Rajiv Kumar, the sum of total Rs 2.11 lakh crore will be divided into two parts Rs 1.35 lakh crore and Rs 76,000 crore. Rs. 1.35 Lakh Crore will be used for recapitalisation bonds whereas Rs 76,000 crore will come from budgetary support and equity issuance.
Gujarat Government Announced Additional Benefits for karma-yogis on Fix Pay
Gujarat government is going to provide many additional benefits to its thousands of karma-yogis who are getting a fix pay to work for 11 months contract. The announcement on thsi was made by Deputy Chief Minister Nitin Patel at Gandhingar.
The benefits will be provided in the form of:
- 11 additional casual leaves
- Three months maternity leave with full pay for women karma yogis
- TA/DA up to Rs.250 as per slabs
- Exgratia amount of Rs. 2 Lakh on accidental or natural death during duty payable to the next in kin.
The extra casual leaves will be subjected to the permission by the head of the department or officer, but the additional leaves will not be carried forward to next year.