Current Affairs – February, 2019
PDF Compilation of these updates can be downloaded from This Link
PDF Compilation of these updates can be downloaded from This Link
The Infosys Foundation has constituted Aarohan Social Innovation Awards to reward individuals, teams or NGOs developing solutions for the social sector.
Infosys Foundation established in 1996 is a not-for-profit initiative of Infosys Ltd. It aims to support the underprivileged sections of society by creating opportunities for building a more equitable society. The foundation supports programs in the areas of education, rural development, healthcare, arts and culture, and destitute care.
The Reserve Bank of India (RBI) has removed three banks, Dhanlaxmi Bank, Allahabad Bank and Corporation Bank from the PCA framework by moving them out of its weak-bank watchlist.
Earlier in the year, the RBI had removed the Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC) from the PCA framework. With the removal of Allahabad Bank and Corporation Bank from the list, five PSBs which includes United Bank of India, UCO Bank, Central Bank of India, Indian Overseas Bank and Dena Bank remain under the PCA framework.
The PCA framework had become a bone of contention between the government and the RBI. In India, PCA kicks in when banks breach any of the three key regulatory trigger points namely capital to risk-weighted assets ratio, net non-performing assets (NPA) and return on assets (RoA) whereas globally PCA kicks in only when banks slip on a single parameter of capital adequacy ratio.
The government and independent directors of the RBI board, like S Gurumurthy, are in favour of this practice being adopted for the domestic banking sector as well.
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