Current Affairs – January, 2015

Latest Current Affairs January, 2015 with Current Affairs, news summary on current events of National and International importance of January, 2015 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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RBI constitutes high level panel on urban cooperative banks (UCB)

The Reserve Bank of India (RBI) has constituted a high-powered panel on urban cooperative banks (UCB).

It will be headed by RBI Deputy Governor R Gandhi and comprise of eight member who will be experienced bankers. They will submit its report within three months from the date of its first meeting.

This high-powered panel will re-examine and recommend appropriate set of businesses, size, conversion and licensing terms for the UCB sector.

The Terms of Reference of the high level panel are:

  • Businesses: Examine the line of businesses that UCBs may be permitted to undertake and their benchmark in terms of size of business, capital requirement, regulatory regime etc.
  • Size of UCB: Suggest the appropriate size up to which a UCB may be able to grow without undue risk to the system.
  • Conversion Criteria & licensing terms : Suggest the criteria for allowing voluntary conversion by a UCB and examine whether the time is opportune to give license to new UCBs.
  • Determine the modalities of implementing the suggestion of the Malegam Committee. Especially, whether the 50 per cent in value of deposits should be held by voting members. Thus, propose a feasible structure that puts majority voting in the hands of contributors of funds in UCB.

Month: Categories: Business, Economy & Banking

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Maharashtra government gives nod for GM food trials

Maharashtra government has given nod to confined genetically modified (GM) food trails in state.

In this regard, state government has granted no-objection certificates (NOC) for open field trials of 5 genetically modified (GM) crops. They are rice, chana (chickpeas), maize, brinjal and cotton.

NOC was granted by state government after state-level Committee, headed by Anil Kakodkar had given clearance for field test of these five GM crops.

Based upon the results of these trials, government take further steps.

With this decision, Maharashtra has become the fourth state after Punjab, Delhi and Andhra Pradesh to approve open field trials in GM crops.

Confined trials: It is typically carried out in small plots of one hectare or less. It is primarily meant to collect data on the potential bio-safety impact of the GM crop lines.

Why state governments NOC are required for GM food trails?

  • Earlier, Genetic Engineering Appraisal Committee (GEAC) under the previous UPA Environment Ministry had permitted field trials of GM food in India.
  • But GEAC had inserted mandatory condition of separate NOCs from states for such trials.
  • So, states like Madhya Pradesh and Rajasthan have banned such research activities.

Month: Categories: States

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