Current Affairs - April, 2019

Latest Current Affairs April, 2019 with Current Affairs, news summary on current events of National and International importance of April, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Ramayana Themed Stamp Released by Indonesia

Indonesia has released a special commemorative stamp on the theme of Ramayana to mark the 70th anniversary of the establishment of its diplomatic ties with India.

About the Stamp

  • The stamp is designed by renowned Indonesian sculptor Padmashri Bapak Nyoman Nuarta.
  • The stamp features a scene from Ramayana in which Jatayu valiantly fought to save Sita.
  • It is a specially signed version of the stamp will be on display at the Philately Museum in Jakarta.

India-Indonesia Bilateral Relations

India and Indonesia have shared close cultural and commercial contacts spanning back to two millennia. The Hindu, Buddhist and later Muslim faith travelled to Indonesia from the shores of India. The Indonesian folk art and dramas portray great influence from the great epics of Ramayana and Mahabharata.

The shared culture, colonial history and post-independence goals of political sovereignty, economic self-sufficiency and independent foreign policy had a unifying effect on the bilateral relations.

The foundation of the Non-Aligned Movement at the Asian-African Conference held in Bandung in 1955 and the adoption of India’s ‘Look East Policy’ in 1991, provided avenues for rapid development of bilateral relations in political, security, defence, commercial and cultural fields. The diplomatic relations have further received uplift with the Act East policy.

Month: Categories: InternationalUPSC

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RBI to Divest its Entire Stake in NABARD and NHB

The Reserve Bank of India (RBI) has sold its entire stakes in the National Bank for Agriculture & Rural Development (NABARD) and National Housing Bank (NHB) for Rs 20 crore and Rs 1,450 crore respectively.

Disinvestment by RBI

  • The decision to divest its entire stake was taken based on the recommendations of the second Narasimham Committee. The committee had stated that RBI could not own those entities which are regulated by it.
  • The government now holds a 100 per cent stake in both NHB and NABARD.

Earlier in June 2018, the government had bought out the entire 59.7 per cent stake in SBI from the Reserve Bank.

The RBI in 2010 divested 71.5% of 72.5% of its shares in NABARD and the remaining of were divested in February similarly RBI which held 100% in NHB, which was divested on 19 March 2019.

Month: Categories: Business, Economy & BankingUPSC

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