Current Affairs 29 September

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Current Affairs 29 September

> RBI places Lakshmi Vilas Bank under prompt corrective action
RBI placed Lakshmi Vilas Bank under PCA. The action has been taken owing to high level of bad loans, insufficient capital adequacy ratio, negative return on assets for 2 consecutive years and high leverage. For FY19, the bank’s net NPA stood at 7.49%.

> Reliance Capital Ltd completed 21.5% stake sale in Japan’s Nippon Life
Reliance Capital Ltd completed sale of its 21.54% stake in Reliance Nippon Life Asset Management Ltd to Nippon Life Insurance of Japan for Rs 3,030 crore. It will further monetise its balance 4.28% stake in RNAM.

> SJVN invests Rs 7,000 crore in commissioning Nepal’s Bhakra Dam
Sutlej Jal Vidyut Nigam is investing about Rs 7,000 crore in power generation and transmission in Nepal. It is the highest ever invested so far in Nepal by any company in the world. SJVN is a joint venture of the Central government and Himachal Pradesh.

> Govt allots Rs 7.87 crore for Khelo India athletes
This year Sports Ministry sanctioned Rs 7.87 crore as out-of-pocket allowance for 2625 Khelo India athletes training in 99 Khelo India academies and other centres across the country. The sanction is for the period between October to December.

> ECI approves appointment of Sushil Kumar Lohani as Chief Electoral Officer Of Odisha
The Election Commission of India has approved appointment of senior IAS officer Sushil Kumar Lohani as chief Electoral Officer of Odisha. He is currently serving as state excise secretary and will be replacing Surendra Kumar.

> Defence Minister Rajnath Singh launches Navy’s first new stealth frigate, INS ‘Nilgiri’
DM Rajnath Singh launched INS ‘Nilgiri’, the first of the Navy’s seven new stealth frigates, at Mazagon Dock Shipbuilders Limited in Mumbai. These frigates are being built using integrated construction methodology.

> RBI approves NSDL Payments Bank operations
NSDL Payments Bank Ltd, the wholly-owned subsidiary of National Securities Depository Ltd, is set to start its commercial operations shortly. The depository received approval from the RBI to commence operations in October 2018.

> Kerala CM launches capacity development programme for women entrepreneurs
Kerala CM Pinarayi Vijayan launched the Kerala edition of WING-Women Rise Together, an initiative by Start India, DPIIT for capacity development of women entrepreneurs in the country at the second edition of Huddle Kerala 2019.

>  DHFL appointed Vaijinath M. Gavarshetty CEO
The board of directors of Dewan Housing Finance Corporation Ltd approved the appointment of Vaijinath M. Gaarshetty as the CEO and key managerial personnel of the company with effect from October 1, 2019.

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