Banking Current Affairs 2017

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Dr Ami Bera: 3rd Indian-American elected to Congress

Dr. Ami Bera

  • imageIndian-American physician from California
  • Won the Congressional election from California
  • 3rd person of Indian-origin to be elected to the US House of Representatives
  • Other Indian-Americans elected in Congress in past:
  1. Dalip Singh Saund was the 1st Indian-American elected to the House in 1950s.
  2. Bobby Jindal: 2nd Indian-American to be elected. He was elected in 2005 and 2008. He is now the Governor of Louisiana.


K.C.Pant passes away

imageIndia’s former defence minister and Planning Commission deputy chairman Krishna Chandra Pant (81) passed away.

  • Pant was India’s defence minister between 1987 and 1989, when the Congress party was in power under then prime minister Rajiv Gandhi. Pant was Defence Minister in Rajiv Gandhi’s Cabinet when the CAG report on Bofors Howitzer acquisition was tabled in Parliament and defended the government during those troubled days.
  • Pant became Deputy Chairman of Planning Commission in 2000.
  • Pant was also the Chairman of 10th Finance Commission.


Kisan Credit Cards (KCCs) to be converted into ATM cards

Finance Minister P.Chidambaram informed that the State-owned banks have been asked to strictly adhere to the March, 2014 time-line for converting all Kisan Credit Cards (KCCs) to ATM cards.

  • State-owned lenders were asked to convert more than 11.39 crore KCCs to ATM cards within two years starting from April 1, 2012.
  • As per NABARD, as on March 31, 2012, the banking system has issued 11.39 crore KCCs and sanctioned loans to the tune of Rs 5,21,617 crore since the inception of the scheme in 1998-99.