Daily Current Affairs : 31st July 2017

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 Daily Current Affairs : 31st  July 2017

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RBI slaps Rs. 3 cr penalty on Union Bank for KYC non-compliance in two cases

The imposed Rs3 crore penalty on state-owned Union Bank of India for “non- compliance” with the directions on Know Your Customer (KYC) norms in two separate cases. While in one case a penalty of Rs 2 crore has been imposed, Rs1 crore has been slapped in another case. Reserve Bank of India (RBI) said that based on media reports related to a fraud in a bank, it conducted an examination of certain accounts in Union Bank of India, which had substantial transactions.

Ravi Mittal appointed part-time member on IRDAI board

Ravi Mittal, who has joined as additional secretary in the Finance Ministry in place of Anil Khachi, is now a part-time member on the board of Irdai.  Mittal has replaced N S Rao at Irdai, who is a joint secretary level officer. Former finance secretary Sushma Nath is another part-time member on the Irdai board

SBI reduces savings rate to 3.5%

State Bank of India (SBI) cut the interest rate on savings accounts with balance of up to Rs1 crore by 50 basis points to 3.5%—the first time the key rate has been cut since being deregulated in 2011. Coming two days ahead of the monetary policy review by the Reserve Bank of India (RBI), the cut, likely to be emulated by other banks, may eventually lead to lower lending rates as well.

Canara Bank launches first digital branch in Bengaluru

Canara Bank, which has set an ambitious target of moving to ‘paperless’ futuristic banking, launched its first ‘Digital Banking Branch’ at Spencer Towers in MG Road, Bengaluru.

Titled ‘CANDI’, the branch will provide an end-to-end digital experience to customers. The bank, as part of the run-up to its digital foray, has introduced customer-friendly mobile apps which help customers get most of the information related to their accounts from the app without the need to visit the branch.The most attractive feature of the Digital Branch is a humanoid robot that addresses basic queries of customers on banking products and services. This is a first-of-its kind initiative by a public sector bank in the country.

Punjab launches ‘Apni Gaddi Apni Rozgar’ scheme

The Punjab government on Tuesday announced the launch of its flagship ‘Apni Gaddi Apna Rozgar’ scheme by flagging off over 100 uberMOTO bikes. Under the scheme the state government will be providing commercial two wheelers and four wheelers to unemployed youth at subsidised rates.

First Solar India to divest 190 MW of assets to IDFC Alternatives

First Solar India, the Indian arm of the US-based solar photovoltaic module major First Solar Inc, has struck a deal to divest 190 MW of solar power assets in the country to IDFC Alternatives.Seven projects, located in Andhra Pradesh and Telangana, have been executed by the company as an independent power producer.

India Among Top Nations With Potential For Digital Payments: Digital Evolution Index

India has emerged strong, exhibiting a high potential in terms of digital payments and has been categorised under the “break out” segment among 60 countries, according to the Digital Evolution Index 2017. The Fletcher School at Tufts University in partnership with Mastercard, unveiled the Digital Evolution Index 2017. The Index is a comprehensive research that tracks the progress countries have made in developing their digital economies and integrating connectivity into the lives of billions.

Japanese, Sri Lankan among 2017 winners of Magsaysay awards

A Japanese historian who helped Cambodians preserve the Angkor temples and a Sri Lankan teacher who counseled war widows and orphans to overcome their nightmares are among the six winners of this year’s Ramon Magsaysay Awards, regarded as Asia’s version of the Nobel Prize. The awards, named after a Philippine president who died in a 1957 plane crash, are to be presented in Manila on Aug. 31.

Yoshiaki Ishizawa, a 79-year-old scholar of Southeast Asian history who has served as president of Japan’s Sophia University, devoted 50 years of his life to help preserve Cambodia’s Angkor Wat, a 162-hectare (400-acre) temple, from the ravages of time and conflict, according to the foundation.

Gethsie Shanmugam, 82, a teacher and psychological counselor from Sri Lanka’s minority Tamil community, won for braving bombings and threats of arrests in conflict zones to counsel war widows, orphans and children traumatized by three decades of brutal civil war in her country.

7th edition of SAARC Artists Camp & Exhibition of Paintings begins in Kathmandu( Nepal)

The 7th edition of South Asian Association for Regional Cooperation (SAARC) Artists Camp and Exhibition of Paintings has began at Kathmandu on Friday. Minister for Culture, Tourism and Civil Aviation of Nepal, Jitendra Narayan Dev inaugurated the event. Around 40 artists from SAARC member countries except Afghanistan taking part in the 4 day camp.

South Korea To Up THAAD Deployment After North Korea’s ICBM Test

South Korea said it will proceed with the deployment of four additional units of the US THAAD anti-missile defence system after North Korea’s latest launch of an intercontinental ballistic missile.The deployment of the additional Terminal High Altitude Area Defence (THAAD) units had been delayed after the initial two units, after South Korean President Moon Jae-in ordered an environmental assessment.

World’s Longest Pedestrian Suspension Bridge Opens in Swiss Alps

The world’s longest pedestrian suspension bridge has been inaugurated in southern Switzerland, carrying hikers 1,620 feet across an Alpine ravine at a height of up to 300 feet. It forms part of the Europaweg, part of a two-day mountain trail connecting the towns of Grächen and Zermatt, and saves walkers a long detour after a previous bridge was damaged by falling rocks.

Science Breakthrough Starshot successfully launch world’s smallest spacecraft

The smallest spacecraft ever launched are successfully travelling in low Earth orbit and communicating with systems on Earth, scientists have announced. Known as ‘Sprites’, the miniature satellites are just 3.5cm x 3.5cm and carry radios, sensors and computers, with each device powered by sunlight and weighing just four grams.

Breakthrough Starshot’s goal is to develop chips with a weight of roughly one gram and fit them to a lightweight sail before propelling them through space with a 100-billion watt laser.

Shiva Thapa, Manoj Kumar strike gold at Czech Republic boxing tournament

Indian boxers packed quite a heavy punch at the 48th Grand Prix Usti Nad Labem, clinching five gold, two silver and one bronze medal at the event in the Czech Republic.

World Championships bronze-medalist Shiva Thapa (60kg), former Commonwealth Games gold-medalist Manoj Kumar (69kg), Amit Phangal (52kg), Gaurav Bidhuri (56kg) and Satish Kumar (+91kg) claimed gold medals after winning their respective summit clashes.

India Bags 24 Medals At Jordan Open table tennis tournament

India have bagged a rich haul of 24 medals at the Jordan Junior and Cadet Open table tennis tournament. The tally includes seven Gold, seven Silver and 10 Bronze medals. In the event held at Amman, India ended as the second best finishers.

Aditya, Suhaani Win Bronze At Asian School Chess Competition

Aditya Patil and Suhaani Lohia from the city clinched bronze medals at the Asian Schools Chess Competition, held in China. Aditya, a student of Dhirubhai Ambani International School, won the bronze medal in the Under-7 rapid championship held in Panjin, China.

Sebastian Vettel of Ferrari wins Hungarian Grand Prix

Sebastian Vettel wins the Hungarian Grand Prix 2017 to extend his championship lead over Lewis Hamilton to 14 points.


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