Current Affairs May 26-27, 2015

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Current Affairs May 27, 2015

1. Better coordination needed to bring to book suspect businesses, Rajan tells States: There is a need to make the State-Level Coordination Committees (SLCCs) more active and effective even though the progress made by them in the conduct of quarterly meetings has been satisfactory.
2. Corporation Bank cuts base rate by 25 bps: Corporation Bank has reduced its base rate from 10.25 per cent to 10 per cent with effect from June 1.
3. Trade unions call for general strike on Sept 2 against ‘unilateral’ labour law changes: Rejecting the NDA government’s bid a joint platform of about a dozen trade unions, including federations of defence, railways, banks and insurance employees, called for a country-wide general strike on September 2.
4. Tax probe case- Five Indians in latest Swiss list: Industrialist Yash Birla, Gurjit Singh Kochar, son-in-law of late realty baron Ponty Chadha, a Delhi-based businesswoman Ritika Sharma and two Mumbai-based individuals behind City Limousines scam were the five Indians in the latest Swiss list.
5. Syndicate Bank plans to raise Rs 5,500 cr via equity & bonds: Syndicate Bank is planning to raise fund upto Rs 2,000 crore by issuing equity shares through qualified institutional placement.

Current Affairs May 26, 2015

1. ICRA chief on RBI panel: Naresh Takkar, MD and CEO of rating agency ICRA, has been appointed member of the External Advisory Committee of the Reserve Bank of India that is evaluating applications for payments banks.
2. ICICI Bank launched a voice recognition service: This voice recognition service authenticates customers based on their speech patterns and allows them to execute banking transactions through the bank’s call centre.
3. Govt. banks to stay closed on 2nd and 4th Sat from July: Following a pact between public sector bank (PSB) employees and officers with the management, all branches in the country will remained closed on all second and fourth Saturdays from July.
4. Loan recovery eludes India’s banks, even as growth rate beats China: India's economy grew 7.4 percent last fiscal year -- numbers likely to again confound economists and firms still suffering from slack demand.
5. PSBs eye retail, SME segments for FY16 credit off-take recovery: Top public sector banks are betting on small businesses and individual borrowers for a revival in credit off-take in 2015-16.