Current Affairs in Short: 5 April 2019
The Reserve Bank of India (RBI) recently adjusted the Liquidity Coverage Ratio (LCR) norms to provide an additional 2 percent window to banks. The move will harmonise the liquidity requirements of banks and release additional money for lending.
Commander of Qatar Emiri Naval Forces, Abdulla Hassan M A Al-Sulaiti visited India
• Staff Major General (Navy) Abdulla Hassan M A Al-Sulaiti, Commander of the Qatar Emiri Naval Forces (QENF) visited India during April 2-5, 2019 along with a three member Qatar Navy delegation.
• The visit was aimed at consolidating bilateral naval relations between India and Qatar to explore new avenues for naval cooperation.
• During his visit, Commander held bilateral discussions with Admiral Sunil Lanba, Chief of the Naval Staff and other senior officials of the Indian Navy.
• Indian Navy cooperates with the Qatar Navy in many areas including operational interaction, training, Exchange of White Shipping Information and participation in the annual Admiral’s Cup Regatta at the Indian Naval Academy (INA), Ezhimala.
Actor Shah Rukh Khan received honorary doctorate from The University of Law, London
• Shah Rukh Khan received honorary doctorate in Philanthropy from The University of Law, London.
• The actor received the merit during a graduation ceremony of more than 350 students held at the Barbican in London on April 4, 2019.
• He has earlier been honoured with honorary doctorates from The University of Bedfordshire and The University of Edinburgh.
• Shah Rukh Khan owns Red Chillies Entertainment, and Redchillies VFX and Colour. He is also the co-owner of a global sports franchise titled ‘Knight Riders’ with cricket teams across India, South Africa, and the Caribbean.
South Korea declares national disaster after massive blaze engulfs 5 cities
• The South Korean government declared a state of national disaster after the massive blaze engulfed five cities and counties along the northeastern coast.
• Over thousands of residents were ordered to evacuate the cities overnight.
• The fire broke from a transformer spark near a resort in the town of Goseong and spread to the nearby mountains, affected by strong wind.
• The flame rapidly spread to nearby mountainous regions including the Inje county and the cities of Sokcho, Donghae and Gangneung in Gangwon province.
7th Foreign Office consultations between India and Italy held
• The 7th Foreign Office consultations between India and Italy were held in New Delhi on April 4, 2019.
• The Indian side was led by A. Gitesh Sarma, Secretary (West), Ministry of External Affairs. The Italian side was led by Director General of Global Affairs of the Ministry of Foreign Affairs of Italy, Luca Sabbatucci.
• The consultations provided an opportunity to review the follow-up actions taken after the visit of Italian Prime Minister Giuseppe Conte in October 2018.
• Both the sides exchanged views on regional and multilateral issues, including cooperation in the United Nations and other international organisations.
• Both the sides agreed to establish a regular Consular Dialogue.
RBI adjusts LCR norms to boost liquidity
• The Reserve Bank of India (RBI) recently adjusted the Liquidity Coverage Ratio (LCR) norms to provide an additional 2 percent window to banks.
• The move will harmonise the liquidity requirements of banks and release additional money for lending.
• The Liquidity Coverage Ratiois an indicator of the proportion of highly liquid assets held by banks to ensure their ability to meet short-term obligations.
• The RBI also announced to set up a task force to study the relevant aspects, including best international practices for developing a thriving secondary market for corporate loans in India.