Recommend: Times of India , Economic Times
# RBI issues guidelines on NSFR
The RBI issued detailed Net Stable Funding Ratio (NSFR) guidelines to ensure that banks maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities.The guidelines on NSFR are in line with global norms prescribed by the Basel Committee.The NSFR would be applicable for Indian banks at the solo as well as consolidated level.
# Cabinet approved setting up of NIMHR at Bhopal
Union Cabinet has approved setting up of a National Institute of Mental Health Rehabilitation at Bhopal.The main objectives of NIMHR are to provide rehabilitation services to people with mental illness and advanced research in mental health rehabilitation.Cabinet approved setting up of NIMHR under the aegis of Department of Empowerment of Persons with Disabilities.
# India to attend SCO Culture Ministers’ meet
The Minister of State for Culture Dr. Mahesh Sharma will be attending Shanghai Cooperation Organization (SCO) Cultural Ministers Meeting at Sanya in China.It is the first time that India would be attending the SCO Culture Ministers’ Meeting.The meeting will showcase India’s initiatives to actively pursue cultural cooperation with other countries including SCO countries.
# RBI eases setting up of IFSC Banking Units
RBI modified the norms for setting up IFSC Banking Units.In April 2015, the Reserve Bank had formulated a scheme for setting up of International Financial Services Centres (IFSC) Banking Units (IBUs) by banks in IFSCs.To enable IBUs to start their operations, the parent bank will be required to provide a minimum capital of USD 20 million.The government has set up an IFSC in Gujarat.
# Cabinet okays defence spectrum budget hike
The Cabinet Committee on Infrastructure approved increasing the budget for laying of ‘alternative communication network’ for defence services.The alternative communications network is being set up in lieu of airwaves vacated by the Defence Ministry for civilian use.The project is being implemented by state-run Bharat Sanchar Nigam Limited (BSNL).
# Coal linkage rationalisation for IPPs
The government has issued the guidelines to allow power producers to swap coal supply assurances against lowering tariffs.The one-time process will be available only to Independent Power Producers (IPPs) having coal linkages through the allotment route.Coal India, South Eastern Coalfields, and the Central Electricity Authority will jointly undertake this exercise.
# Anindita got Jayadev Rashtriya Yuva Puraskar
US-based Kathak dancer Anindita Anaam was honoured with the prestigious ‘Shri Jayadev Rashtriya Yuva Pratibha Puraskar 2018’ for outstanding contribution to the field of art.The award was presented to the Kathak exponent during the ‘Jayadev International Dance Festival’.The festival is organised under the aegis of Odisha’s culture department and National Culture Mission.
# Digitisation of dying languages
Centre and State Governments are working along with start-ups to provide regional language-related products and services.Languages like Ol Chiki script of Santali which is also one of the 22 official languages of India and Gondi language are gaining popularity due to this measure.The not-for-profit organisation ‘Indic Project’ has developed open source tools for language digitisation.
# BRO built a road from India’s border to China
The Border Roads Organisation (BRO) has created history by establishing a road link to India’s border with China beyond Limeking and along the Tama Chung Chung-Taksing Axis recently.The road from Limeking now connects TCC to Taksing, covering a distance of approximately 80 kilometers.BRO develops and maintains road networks in India’s border areas. It comes under the Ministry of Defence.
# Cyclone Sagar formed over Gulf of Aden
A cyclonic storm named Sagar has formed in the Gulf of Aden.Cyclone Sagar is the first cyclonic storm of the season in Indian waters.Gulf of Aden is located in the Arabian Sea and is surrounded by Yemen, Djibouti and Somalia.Fishermen have been advised to not venture into Gulf of Aden and adjoining areas of Arabian Sea.
# Yudhvir Malik got extra charge of NHAI chief
Yudhvir Singh Malik, the Secretary of Ministry of Road, Transport, and Highways, has been given additional charge of the post of NHAI chairman.Deepak Kumar, the chairman of National Highway Authority of India (NHAI), was sent back to his cadre state Bihar before completion of his tenure.Kumar, a 1984 IAS officer of Bihar cadre, had taken over as the NHAI chief on June 28 last year.
# World Hypertension Day observed
World Hypertension Day was observed all over the world yesterday on May 17th, 2018.The objective of observing this day is increasing high blood pressure awareness in all populations around the world.The World Hypertension Day was first inaugurated in the year 2005 and has become an annual event ever since.The theme for this year is ‘Know Your Numbers’.
# China’s first privately developed rocket
China has launched its first privately developed rocket from a launchpad in northwestern China on 17 May.The launch of the “Chongqing Liangjiang Star” rocket marks the first launch of a non-state Chinese rocket.The rocket was launched by OneSpace Technology and it uses energy-saving technology, such as wireless communications.
# International Rail Coach Expo in Chennai
For the first time, an International Rail Coach Expo (IRCE) is being held in Chennai.The expo which is being held from 17th to 19th May will focus on Rail Coaches and train sets.It will be a unique platform to bring different suppliers under one roof and create synergy for “Make in India”.
# Development of ‘Freight Village’ in Haryana
Cabinet approved the development of trunk infrastructure components for the integrated multi-modal logistics hub known as ‘Freight Village’.They will be built at Nangal Chaudhary in Haryana under the Delhi-Mumbai Industrial Corridor Project.Freight villages are logistics centers, where the cargoes from different transport modes can be reloaded, compiled and prepared for transportation.
# Approval for central university in Andhra
The Union Cabinet has approved the setting up of a central university in the Anantapur district of Andhra Pradesh, Human Resource Development Minister Prakash Javadekar said.A provision of ₹450 crore has been approved for the first phase of establishing the university.Andhra Pradesh had been left with no central university following its division into two states in 2014.
# Frog Species found in Karnataka
The latest addition to India’s frog fauna is the narrow-mouthed frog named Microhyla kodial found in Mangaluru.The species has been named after the city of Mangaluru which is called kodial in the Konkani language.The greyish-brown frog is just 2 cm long.
# Uttarakhand Cabinet held meeting in a boat
The Uttarakhand Cabinet organised a meeting in a boat named Marina on the Tehri Reservoir.Uttarakhand Chief Minister Trivendra Singh Rawat was present for the cabinet meeting.Notably, a cabinet meeting was held outside the capital of the state for the first time ever.Famous Tehri Dam is located on the river Bhagirathi.
# PM to lay foundation for Zojila tunnel
PM Narendra Modi will lay the foundation stone of the Zojila tunnel on 19 May in Jammu and Kashmir.The tunnel is being built to check the growing influence of Pakistan and China in the Ladakh region.The contract for the project has been awarded to IL & FS.Zojila Pass is known as the gateway to Ladakh region and connects Kargil and Leh with Srinagar.
# RBI imposed penalty on Cooperative bank
The Reserve Bank of India has imposed a penalty of ₹50,000 on Universal Co-operative Urban Bank, Mancherial, Telangana.The penalty has been imposed on the bank as it had violated RBI’s directive and guidelines on loans and advances to directors and their relatives.Urjit Patel is the Governor of Reserve Bank of India which is headquartered at Mumbai.