Current Affairs June 8-9, 2015

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Current Affairs June 9, 2015

1. Green Peace activist sent back to Australia: Aaron Gray- Block a foreign activist of Green Peace Movement was sent back to Australia as immigration authorities denied entry to him.
2. K.V. Chowdary is the new CVC: Former Central Board of Direct Taxes( CBDT) Chairman K.V. Chowdary has been appointed as the Central Vigilance Commissioner(CVC) after the President signed his letter of appointment.
3.Vijay Sharma named Chief Information Commissioner: Mr. Vijay Sharma has been appointed as the next Chief Information Commissioner(CIC). Many RTI activists are soar over the increasing number of pending RTI applications exceeding 32,000 .The new appointment is expected to help clear the arrears in RTI applications.
4. Bank can bring in foreign promoters after taking over defaulting companies : RBI has brought out new guidelines about Strategic Debt restructuring under which RBI allows banks to convert the bad debts of the defaulting companies into equity. RBI has also allowed the banks to bring in foreign promoters with the stake as low as 26 %. This is expected to help in recovery of bad loans.
5. Banks get strict with Gems Sector: Banks have tightened financing norms for the gems and jewellery industry after being forced to write off loans of more than Rs,10,000 crore.
6. TCS CEO salary jumps 14% to Rs.21.2 crore in 2015: Tata Consultancy Services( TCS) ,India’s largest IT services company, paid its Chief Executive N. Chandrasekaran Rs.21.28 crore for the FY2015, a 14% jump from the previous year. Sikka the CEO ,of Infosys was given Rs.30,crore at Infosys.
7. Sun TV shares crash 22% as govt denies clearance to 33 channels: Shares of Sun Network owned by media baron Kalanidhi Maran plunged by 22%,its biggest single day drop in the past 4 years, after the ministry of home affairs denied the security clearance to 33 channels on the ground that it may have an adverse impact on the economic security of the country.
8. Niti Aayog plans to reduce Headcount by two- third: An internal committee headed by Sindhushree Khullar, CEO of the Aayog has recommended downsizing a large number of middle and lower level staff of about 65% of the present total working force to make the Aayog leaner and more efficient. From 850 employees now , it is expected to go down to only 300 employees.

Current Affairs June 8, 2015

1. Commercial courts to be set up to fast track cases : In an attempt to fast track big ticket commercial litigations pending in the court the union government has proposed to setup separate commercial courts as well as commercial appellate division in each high court .
2. Anshu Jain quits as Deutsche Bank CEO : Anshu Jain who became famous by becoming the first Indian to become the co –CEO of Deutsche bank has resigned from the bank under pressure from large investors and bank unions.
3. No more pulling chain to stop train : The Union Railway Ministry has decided to do away with these chains that can be pulled to stop the train. The Railways had incurred a loss of Rs.3000 crore because trains run late with the indiscriminate chain pulling.
4.G- 7 to stand up against Russia on Ukraine : Leaders of the Group of Seven (G-7) industrial nations are having a meeting at Kruen in Germany and the summit is hosted by Angela Merkel President of Germany. The G-7 members are taking a tough stand towards Moscow because of the recent aggression made by Moscow on Ukraine.
5. Suu Kyi to visit China : Suu Kyi, Myanmar’s opposition leader and Nobel Prize winner will visit China for the first time in the coming week.
6. Yes Bank to raise over Rs. 16,000 crore : Private sector bank Yes Bank will raise $1 billion (about 6400 crore) by fresh equity and Rs. 10,000 crore through Non-Convertible Debentures (NCDs) and bonds.
7. RBI proposes 51% equity in chronic defaulters : As patience is running out over bad debts of commercial banks, the RBI is planning to allow banks to take 51% equity in chronic defaulters by converting their bad loans into equity.
8. Federal Bank launches ‘Scan N Pay ‘ service : Federal Bank launched its latest innovative product ‘Scan N Pay’ first- of- its- kind mobile based app at Kochi. The product was launched by A P Hota MD and CEO of National Payment Corporation Limited (NPCI) . This is an easy way to make payment at retail stores and restaurants.