Current Affairs Aug 7, 2015

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1. Yes bank gets investment from world bank group: IFC, a member of the World Bank Group, has invested $50 million in YES Bank’s Green Infrastructure Bond. This is IFC’s 1st investment in an emerging markets green bond issue. These funds will be used by the YES BANK for promoting solar power and wind power and such other renewable energy projects.

2. Canara bank’s Net Falls 40% to 478 crore: State –run Canara Bank’s June quarter net profit fell 40% to Rs.478 crore, well below market expectations, as it made higher provisions for bad loans.

3. PSBs asked to issue AT1 bonds at lower rates: The finance ministry has asked state-run banks to raise money through additional Tier I (AT1) bonds at lower cost and only when market conditions are favourable, an advice aimed at reducing interest rates in the economy .

4. Salem's 'Venpattu' silk to get award from PM Modi : Soft and shiny, Salem's Venpattu (white silk) is all set to bring a fresh bunch of laurels for Tamil Nadu government-owned Cooptex. Prime Minister Narendra Modi handed over the maiden India Handloom Brand certificate to the Cooptex authorities on Aug 7, the first ever India Handloom Day. From this year August 7 shall be known as National Handloom Day when awards would be handed over to artisans and weavers, and best handloom products would be chosen for awards and certificates.

5. NHRC pulls up bank for harassing education loan beneficiary in TN : The Manjoor branch (Ooty district) of Central Bank of India has been pulled up by the National Human Rights Commission (NHRC) for allegedly harassing a beneficiary of education loan and her family. The complainant, an engineer, alleged that her ailing father died due to shock after receiving threatening telephone calls from the bank despite the fact that half of the loan amount of Rs 2 lakh was already paid in the first month itself after the moratorium period though she had the option to use 120 installments to repay the loan.