THE 2017 RAMON MAGSAYSAY AWARDEES

Ramon Magsaysay Award 2017

Question: Ramon Magsaysay awards are given in the memory of the President of which of the following countries?
(a) Myanmar
(b) Thailand
(c) Philippines
(d) Laos
Answer-(c)
Related facts:

  • On July 27, 2017, Ramon Magsaysay awards, popularly known as Nobel of Asia, were declared for year 2017.
  • Ramon Magsaysay Award is the Asia’s highest honor established by Ramon Magsaysay Foundation in 1957.
  • It celebrates the memory and leadership example of the third president of Philippines after whom the award is named.
  • This year the awards will be given to six individuals and organization. Which are following-
    (i) Yoshiaki Ishizawa (Japan)
    (ii) Lilia de Lima (Philippines)
    (iii) Abdon Nababan (Indonesia)
    (iv) Philipine Educational Theater Association (Philippines)
    (v) Gethsie Shanmugam (Sri Lanka)
    (vi) Tony Tay (Singapore)
  • It is noteworthy that till the year 2008 awards were given in six different categories but subsequently category was abolished.
  • Last year (2016) T. M Krishna, a carnatic musical vocalist had won the award for “social inclusiveness in culture”.
  • Presentation ceremony will be held on August 31, 2017, at the Cultural Centre of the Philippines.

Reference:
http://rmaward.asia/news/the-2017-ramon-magsaysay-awardees-announced/

Demerger of home finance from Reliance Capital

Demerger of home finance from Reliance Capital

Question:- Recently Reliance’s home finance business demerged from Reliance Capital. What will be the percentage of stakes held by Reliance Capital in the Reliance Home Finance after the demerger?
(a) 41%
(b) 62%
(c) 51%
(d) 30%
Answer:- (c)
Related facts:-

  • On August 11, 2017, National Company Law Tribunal (NCLT) approved the demerger of home finance business from Reliance Capital.
  • NCLT also approved the vesting of the demerged undertaking from the company to Reliance Home Finance Ltd.
  • Reliance Capital will hold a 51 per cent stake in Reliance Home Finance, and the company will be adequately capitalised to grow lending in the next 18 months.
  • Reliance Home Finance has assets under management (including securitised portfolio) of Rs 13,022 crore as of June 30.

Resource links:
http://www.business-standard.com/article/news-ians/tribunal-approves-demerger-of-home-finance-from-reliance-capital-117081100348_1.html

Lok Sabha passes State Banks (Repeal and Amendment) Bill, 2017

Lok Sabha passes State Banks (Repeal and Amendment) Bill, 2017

Question: The State Banks (Repeal and Amendment) Bill, 2017 provides for….
(a) Merger of five associate banks with the parent SBI.
(b) Merger of SBI with Bank of Baroda
(c) Merger of SBI with Reserve Bank of India
(d) None of the above.
Ans: (a)
Related facts:-

  • On August 10, 2017, the Lok Sabha passed the State Banks (Repeal and Amendment) Bill, 2017 .
  • This Bill was introduced in Lok Sabha by the Minister of Finance, Mr. Arun Jaitley, on July 21, 2017.
  • The Bill seeks to repeal the two Acts: (i) State Bank of India (Subsidiary Banks) Act, 1959, and (ii) State Bank of Hyderabad Act, 1956.
  • These Acts established the State Bank of Bikaner, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, and State Bank of Hyderabad. These banks were subsidiaries of the State Bank of India (SBI).
  • This is consequent to the Union Cabinet granting its approval in February 2017, which allowed the SBI to acquire these subsidiaries.
  • The Bill seeks to amend the State Bank of India Act, 1955 to remove references related to subsidiary banks.

Resource links:
http://www.prsindia.org/billtrack/the-state-banks-repeal-and-amendment-bill-2017-4830/

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