1. RBI fined 3 banks for violating KYC norms
i. The Reserve Bank of India has imposed an Rs 1.5 crore penalty each on Bank of Maharashtra, Dena Bank and Oriental Bank of Commerce for violation of Know Your Customer (KYC) and anti-money laundering norms.
ii. ‘The banking regulator had ordered a probe against these banks based on a complaint received by a private organisation. The central bank scrutinised the fixed deposits opened by certain public sector banks in Mumbai-based branches in July last year.
iii. The RBI in its probe found “no adherence to KYC norms, inadequate monitoring of customer accounts, opening of fixed deposit accounts and granting overdrafts without due diligence or process.
iv. RBI also cautioned and directed eight other banks -Central Bank of India, Bank of India, Punjab and Sind Bank, Punjab National Bank, State Bank of Bikaner & Jaipur, UCO Bank, Union Bank of India and Vijaya Bank to put in place appropriate KYC practices.
2. Mukesh Khanna named new Chairman of Children’s Film Society of India
i. The Union Ministry of Information and Broadcasting has appointed, actor and producer Mukesh Khanna as the Chairperson of the Children’s Film Society of India (CFSI). He replaced Amole Gupte.
ii. Mukesh Khanna is known for his iconic role as Shaktimaan, a 1990s superhero series.
iii. Children’s Film Society India (CFSI) is as an autonomous body under the Ministry of Information and Broadcasting which was founded by, India’s first Prime Minister Pandit Jawahar Lal Nehru in 1955.
3. Mohammed bin Nayef appointed as Crown Prince
i. Mohammed bin Nayef has been appointed as Crown Prince and as Deputy Prime Minister of the country by King of Saudi Arabia Salman bin Abdulaziz al-Saud.
ii. Prior to this appointment he was Interior Minister of the kingdom.
4. India & Japan singed agreement on bilateral trade and investment
i. India and Japan have signed a five-point action agenda to increase bilateral trade and investment between the two nations.
ii. The action agenda was signed between Japan’s Minister for Economy, Trade and Industry Yoichi Miyazawa and Minister of State (independent charge) for Commerce and Industry Nirmala Sitharaman.
The five-point agenda on bilateral trade and investment includes
1. Development of selected townships in India as Japanese industrial townships.
2. Promotion of investment and infrastructure development.
3. Further development and cooperation in IT sector.
4. Enhancing cooperation in strategic sectors.
5. Asia-Pacific economic integration.
Note: This five-point action agenda is a follow-up of Prime Minister Narendra Modi’s visit to Japan in 2014 and will play important role in improving the trade relationship between India and Japan.
5. Two Indian won 2015 Whitley Award
i. Dr. Pramod Patil and Dr Ananda Kumar have been awarded with 2015 Whitley Awards for their contribution to wildlife conservation in developing countries.
ii. Dr. Pramod Patil was awarded for his work to protect the iconic great Indian bustard (GIB) in the Thar Desert.
iii. While, Dr Ananda Kumar received this award for developing innovative communication systems namely Elephant Information Network (EIN) has enabled human-elephant coexistence in southern India.
iv. The Whitley Award was established in 1994 by Edward
Whitley and given by the Whitley Fund for Nature (WFN).
v. Every year, the award recognises and celebrates effective
national and regional conservation leaders across the globe. The award is also
dubbed as Green Oscar.
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