CURRENT AFFAIRS 27th JUNE, 2014

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1. N. Srinivasan was appointed as the first Chairman of the International Cricket Council on June 26, 2014. He was barred by the Supreme Court of India from carrying out his duties as BCCI president due to ongoing investigations into the match-fixing allegations.

2. India has decided to relax visa restrictions for Bangladeshi nationals above the age of 65 and below the age of 13. The decision was taken during External Affairs Minister Ms. Sushma Swaraj’s first bilateral visit to Bangladesh.

3. RBI has asked all banks and financial institutions to take into account ‘Credit Information Reports’ from several agencies while approving loan proposals.

4. RBI has revised asset classification norms for infrastructure firms. It allows banks to treat loan as standard if the commencement of infrastructure project delays by two years. This will help bank to save on provisioning cost as well as provide infrastructure firms easy access to loans.

5. RBI in its annual Financial Stability Report, observed that the economic recovery is facing challenges of adverse growth coupled with inflation. With regard to banks, it noted though the financial system is stable, the gross NPA of PSB's as a percentage of total loan advances is higher than other groups.

6. Centre is yet to define the functions of newly formed Ministry of Skill development and Entrepreneurship. It is headed by Sarbananda Sonowal and will have National Skill Development Authority and the National Skill Development Corporation working under it.