Daily Current Affairs Digest – May 23rd

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Daily Current Affairs Digest

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Daily Current Affairs Digest- April 23rd, 2017

1. PM Narendra Modi Inaugurates 52nd Annual General Meeting of African Development Bank.
2. Paytm launches its first physical bank.
3. Oversight Committee reconstituted by RBI to tackle bad loans.
4. Dubai-based Indian billionaire to pay for expat prisoners’ tickets
5. India becomes 2nd largest stainless steel producer in world


PM Narendra Modi Inaugurates 52nd Annual General Meeting of African Development Bank.

  • This is the first time that India is hosting the annual meetings of the ADB and its sister institutions, including of finance ministers of member countries, who comprise the AfDB board of governors.
  • India had joined the African Development Bank (AfDB) in 1983.

 

Paytm launches its first physical bank.

  • Paytm has rolled out its Payments Bank operations by launching its first physical branch in Noida.
  • India has two more payment banks, Airtel Payments Bank Ltd and India Post Payments Bank Ltd.

 

Oversight Committee reconstituted by RBI to tackle bad loans.

  • The Reserve Bank of India is set to reconstitute Oversight Committee to operationalise the banking ordinance
  • The existing Oversight Committee was constituted by the Indian Banks’ Association (IBA). The move is aimed at containing the bad loans which have reached to over Rs 8 lakh crore.

 

Dubai-based Indian billionaire to pay for expat prisoners’ tickets

  • Firoz Merchant will donate $130,790 a year to fund the return tickets of expatriate prisoners in Dubai.
  • This fund will be extended to inmates who cannot afford to pay for their airfare.
  • Merchant is the founder and chairman of Pure Gold Jewellers.

 

India becomes 2nd largest stainless steel producer in world

  • China is the largest stainless steel producer in the world.
  • India overtook Japan as the second-largest producer in 2016, according to data released by the International Stainless Steel Forum (ISSF) at their annual conference held on May 14-19, 2017 in Tokyo, Japan, ISSDA said in a statement.

 

The above daily current affairs digest has been compiled by Sagrika Mehta

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