Daily GK updates 17 May 2015 Top Current Affairs Career Launcher Tirupati
Daily GK Updates 17th May 2015 Current Affairs for 2015-16 Online Examinations
6th National Conference on Nuclear Energy held with the theme of “Nuclear Energy: a ‘Clean’ Energy option”
The 6th National Conference on Nuclear Energy was organized by ASSOCHAM in New Delhi. The theme of the conference was “Nuclear Energy: a ‘Clean’ Energy option”. The conference discussed the issue related to the status of Nuclear Energy in India. Apart from it various issues were also discussed including on nuclear energy to the decarbonisation of power sector, Climate change & the future of nuclear energy, nuclear energy expansion & make in India. India is on course of doubling its nuclear power generation capacity in five years i.e. till 2020 by more than 10,000 MW. At present 3.5% of India’s electricity is generated by Nuclear power plants. In future its share will be less than 10% even if the installed capacity is tripled.
Centre allocates Rs 5,000 crore for development of AYUSH
The government has allocated Rs 5,000 crore for the growth of Department of AYUSH and launched an independent National AYUSH Mission aimed at capacity building for the sector. For creating awareness about Ayurveda, the Ministry is considering to observe Ayurveda Day. The mission will ensure creation of a centre of excellence for Ayurveda, Yoga, Unani, Siddha and Homoeopathy independently.
The building of the BRICS bank
India named veteran banker K.V. Kamath to be the first President of the New Development Bank, popular as the BRICS bank. The focus of this bank will be to invest in infrastructure. the BRICS countries agreed to set up a development bank, whose purpose, according to its articles, is to “mobilise resources for infrastructure and sustainable development projects” not just in BRICS countries but also in other emerging economies. It seeks to do so by supporting public and private projects through loans, guarantees and equity. In the BRICS bank, the founding members have equal voting rights. The group has also agreed to a $100 billion currency exchange reserve, which member-countries can tap during balance of payment problems. China, the biggest foreign exchange reserve-holder amongst them, will contribute the major portion of the currency pool. Brazil, India and Russia will contribute $18 billion each while South Africa will chip in with $5 billion.
Mounting NPAs of public sector banks
The banking industry is worried over the high level of non-performing assets (NPA), especially in public sector banks. The rise in NPAs in 2014-15 has been attributed to the effects of global recession coupled with internal factors such as slowdown in the domestic economy. This has adversely affected the corporate performance leading to a negative impact on credit quality. The NPAs are classified into two categories — gross NPAs and net NPAs. Gross NPAs are the sum total of all loan assets that are classified as NPAs as on balance sheet date, as per the Reserve Bank of India guidelines. Gross NPAs reflect the quality of loans made by banks. (Gross NPAs ratio = gross NPAs/gross advances). Crisil’s calculations show that about Rs. 800 billion of stressed loans could be structured during 2015-16. Prospects of the economy growing faster this financial year have raised hopes that this will help to curb additions to bad loans and also improve credit demand. Demand for loans from companies has yet to revive significantly although consumer lending is growing fast.
PM Modi inaugurates ICICI Bank’s first Chinese branch in Shanghai
To help Indian and Chinese corporates in cross-border businesses, top private sector lender ICICI Bank opened its first branch in China, which was inaugurated by Prime Minister Narendra Modi. Based in Shanghai, China’s biggest city and a major global financial hub, the new branch would begin with 17 banking professionals handling different functions including corporate banking, operations, finance and treasury.
Death Sentence for Boston Bomber, Dzhokhar Tsarnaev, Unsettles City He Tore Apart
Dzhokhar Tsarnaev was convicted of planting bombs at the Boston Marathon on April 15, 2013. The bombings killed three people and reportedly injured as many 264 others. At the time of the bombings, Tsarnaev was a student at University of Massachusetts Dartmouth. Tsarnaev was charged on using and conspiring to use a weapon of mass destruction resulting in death and with malicious destruction of property resulting in death. Tsarnaev allegedly later said during questioning that they next intended to detonate explosives in Times Square in New York City. Tsarnaev reportedly also said to authorities that he and his brother were radicalized, at least in part, by watching Anwar al-Awlaki lectures. He was convicted on April 8, 2015, and was sentenced to death on May 15, 2015.
Vikas Gowda wins bronze in Shanghai IAAF Diamond League
Ace India discus thrower Vikas Gowda won a bronze medal in the second leg of the prestigious IAAF Diamond League series. National record holder Gowda, the 2014 Commonwealth Games gold medallist and Asian Games silver medal winner, will pocket $4000 for the third-place finish, besides earning one Diamond League point.