RBI removes Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from PCA framework
The Reserve Bank of India (RBI) on February 26 said that Allahabad Bank, Corporation Bank and Dhanlaxmi Bank have been taken out of the Prompt Corrective Action (PCA) framework.
In a statement, RBI said the Board for Financial Supervision (BFS) reviewed the performance of banks under PCA and noted that the government has infused fresh capital on February 21 into various banks including some of the banks currently under the PCA framework.
"Of these banks, the Board for Financial Supervision (BFS) noted that Allahabad Bank and Corporation Bank had received Rs 6896 crore and Rs 9086 crore respectively. This has shored up their capital funds and also increased their loan loss provision to ensure that the PCA parameters were complied with," RBI said.
The release noted that the two banks made the necessary disclosures to the Stock Exchange and after the infusion of capital, the CRAR, CET1, Net NPA and Leverage Ratios are no longer in breach of the PCA thresholds.
Sanath Jayasuriya: Ex-Sri Lanka captain banned after admitting corruption charges
The 49-year-old, who was charged in October, admitted failing to co-operate with an investigation and "concealing, tampering with or destroying evidence".
It is part of a wider investigation into corruption in Sri Lankan cricket.
Jayasuriya, who retired in 2012, is a former chairman of selectors.
"This conviction under the code demonstrates the importance of participants in cricket co-operating with investigations," said Alex Marshall, general manager of the International Cricket Council's (ICC) anti-corruption unit.
"Compelling participants to co-operate under the code is a vital weapon in our efforts to rid our sport of corruptors. These rules are essential to maintain the integrity of our sport."
Jayasuriya was player of the tournament when Sri Lanka won the World Cup in 1996 and he scored 21 centuries and took 323 wickets in 445 one-day internationals.
He also averaged 40.07 runs in 110 Test matches.
The former government minister retired from international cricket in 2011, but continued playing Twenty20 matches until 2012.
60 buried by landslide at unlicensed Indonesia gold mine
In Indonesia, 60 people have been buried following a landslide at an unlicensed gold mine in North Sulawesi province. The national disaster agency said, one person is confirmed dead and at least 13 injured.
The mine collapsed last evening due to unstable soil and the large number of mining holes. Rescue operation is underway.
US lawmaker supports India's stand on Pakistan after Pulwama attack
Mourning the loss of more than 40 Indian security personnel in a Jaish-e-Mohammed (JeM) terrorist attack in Pulwama early this month, an influential American lawmaker has endorsed India's move to diplomatically isolate Pakistan.
Forty Central Reserve Police Force personnel were killed in a suicide attack by Pakistan-based JeM in Jammu and Kashmir's Pulwama district on February 14, sparking outrage in the country.
Following the incident, India bombed and destroyed JeM's biggest training camp in Balakot in Pakistan's restive Khyber Pakhtunkhwa province, about 80-km from the Line of Control (LoC) early Tuesday, killing a "very large number" of terrorists, trainers and senior commanders.
“We mourn the victims of this act of terror and call for continued action against any nation to include Pakistan that harbour terrorists and promotes violent extremism,” Republican Congressman Rick Perry, on the floor of the US House of Representatives, said.
PM to confer National Youth Parliament Festival 2019 awards
Prime Minister Narendra Modi will give away the National Youth Parliament Festival 2019 awards in New Delhi today. In his Mann Ki Baat address in December 2017, Mr Modi had shared his idea of organising Youth Parliaments for young people in every district of the country.
Youth Affairs and Sports Minister Rajyavardhan Rathore had launched the festival on the 12th of last month to encourage the youth to engage with public issues and understand the common man's point of view. More than 50 thousand youths participated through Youth Parliaments at all levels.
The National Level Finals of the festival concluded yesterday with the announcement of winners.
Colonel Rathore handed over the certificates of participation to those who took part in the festival.
Inaugurating the National Level Finals event, Colonel Rathore called upon the youth to recognise their strength and create a New India. He said, India has a large young population bestowed with special qualities which need to be identified, harnessed and promoted. The Minister said, the country is progressing under the best leadership, and impossibilities are being converted into possibilities.
Army destroys five Pakistan posts in retaliation to cross border firing along LoC in Jammu Division
The Indian Army destroyed five forward posts of Pakistan in a befitting retaliation to firing from across the border in Rajouri and Poonch districts of Jammu Division last night.
A Defence spokesperson said, Pakistani troops resorted to indiscriminate firing and shelling with heavy calibre weapons in 12 to 15 places in the twin border districts.
The Pak troops were also seen firing mortars and missiles from civilian houses, using villagers as human shields. The spokesperson said, the Indian troops retaliated strongly and caused a number of casualties to the Pak Army. However, in the exchange of fire, five Indian soldiers were injured. Two of them were taken to Military Hospital and their condition is stable.
AIR correspondent reports that a number of Pakistan Army personnel were killed and injured while their five posts were destroyed across line of Control in Sunderbani Palling ala sector last evening in retaliatory firing and shelling by the Indian side while a Ranger was killed and six others were injured across Kanachak sector on the International border in Jammu district . In view of heightened tension between India and Pakistan amidst heavy exchange of fire along line of Control in Rajouri and Poonch the respective district administrations have ordered closure of all schools within a radius of five kilometers from Line of Control.
President confers Gandhi Peace Prize
President Ram Nath Kovind today conferred the Gandhi Peace Prize for 2015, 16, 17 and 18 at a function in Rashtrapati Bhavan. For 2015, Vivekananda Kendra, Kanyakumari was given the award for its contribution in Rural Development, Education and Development of natural resources.
For 2016, the award was presented jointly to Akshaya Patra Foundation for its contribution in providing mid-day meals to millions of children across India and Sulabh International for its contribution in improving the condition of sanitation in India and emancipation of manual scavengers.
Ekal Abhiyan Trust was conferred the award for 2017 for its contribution in providing Education for Rural and Tribal Children in remote areas pan India, Rural Empowerment, Gender and Social Equality.
For 2018, Japan's Yohei Sasakawa was given the prize for his contribution in Leprosy Eradication in India and across the world.
The award, comprises a cash award of one crore rupees, a citation in a scroll, a plaque and a traditional handicraft item.
Former PepsiCo CEO Indra Nooyi joins Amazon Board of Directors
PepsiCo's India-born former CEO Indra Nooyi has joined Amazon's board of directors, the online retail giant has said. Nooyi, who stepped down as CEO of Pepsico in October last year, is the second women of colour to be added on the Amazon's board of Directors. Early this month, Starbucks executive Rosalind Brewer joined the Amazon Board.
"We're thrilled to have elected two new members to our Board of Directors this month. Welcome, Roz Brewer and Indra Nooyi," Amazon said in its announcement. Nooyi would be a member of the audit committee.
She was Pepsico CEO from October 2006 to October 2018, where she also served as the Chairman of its board of directors from May 2007 to February 2019.
She was elected to PepsiCo's board of directors and became its President and Chief Financial Officer in 2001, and held leadership roles in finance, corporate strategy and development, and strategic planning after joining PepsiCo in 1994. Nooyi has served as a director of Schlumberger Limited since April 2015.
Haryana allocates Rs 1,500 crore for pension of farmers
With no new tax proposals, Haryana finance minister Capt Abhimanyu Monday presented Rs 1.32 lakh-crore Budget for 2019-20, with an increase of 14.73 per cent over the previous year’s estimates of Rs 1.15 lakh crore.
This is the fifth Budget of the Manohar Lal Khattar government. Coming barely a few months ahead of the Lok Sabha elections as also the state Assembly elections due later this year, the Haryana government has earmarked Rs 1,500 crore for a special pension it announced for the farmers and workers in unorganised sector.
The Budget outlay comprises Rs 37,924.09 crore or 28.7 per cent as capital expenditure, and 71.3 per cent or Rs 94,241.90 crore as revenue expenditure.
“I propose new schemes to provide financial and social security cover to families of cultivating farmers in possession of land upto five acres and for the families of workers in unorganized sector with the family income of less than Rs 15,000 per month. In case of the farmers, this will be in addition to the Pradhan Mantri Kisan Samman Nidhi scheme announced by Government of India. I have provided an outlay of Rs 1,500 crore for these schemes,” Abhimanyu said while commencing his Speech in the House.
PM Narendra Modi Inaugurates National War Memorial in New Delhi
Prime Minister Narendra Modi on Monday inaugurated the country's National War Memorial (NWM) adjoining the iconic India Gate complex in the heart of the capital, nearly 60 years after it was mooted to honour the fallen soldiers after Independence.
Spread over an area of approximately 40 acres, the memorial comprises four concentric circles, namely-- the 'Amar Chakra, the Veerta Chakra, the 'Tyag Chakra' and the 'Rakshak Chakra' with names of 25,942 soldiers inscribed in golden letters on granite tablets.
It also includes a central obelisk, an eternal flame and six bronze murals depicting famous battles fought by Indian Army, Air Force and Navy in a covered gallery (Veerta Chakra).
The PM dedicated the memorial, built at a cost of Rs 176 crore, by lighting the flame positioned at the bottom of the stone-made obelisk. Rose petals were showered by IAF helicopters and a fly-past in 'Missing Man' formation was also part of the event.