Important Current Affairs 11th July 2021

NATIONAL

Manipur enters India’s railway map as first passenger train reaches the state

•A passenger train Rajdhani Express from Assam’s Silchar railway station has reached the Vaingaichunpao railway station in Manipur for a trial run, putting the state on the Indian Railways map. The train covered the distance of 11 km between the two northeastern stations, with railway officials onboard.

•The train halted briefly at Manipur’s Jiribam railway station, where railway officials were greeted by local citizens before the national flag was hoisted accompanied by the national anthem. Notably, the Vaingaichunpao-Imphal (capital of Manipur) railway line is also under construction. Once completed, it will be the longest railway tunnel near Imphal.

Karnataka will be develop 46 Kempegowda heritage sites in Bengaluru

•The Karnataka state government has decided to develop 46 Kempegowda heritage sites located in Bengaluru Urban, Bengaluru Rural, Ramanagara, Chikballapura, and Tumakuru districts, in a bid to promote tourism. According to Chief Minister B S Yediyurappa, the sites identified to be in three circuits would be developed at a cost of Rs 223 crore for promoting tourism.

•According to the Authority, these sites are developed to help people acknowledge the contribution of Kempegowda or Nada Prabhu Kempegowda, the founding father of Bengaluru.

National Film Archive of India adds Aamir Khan’s ‘PK’ to its collection

•National Film Archive of India (NFAI) has announced a significant addition of the original camera negative of Rajkumar Hirani’s 2014 film ‘PK’ in its collection.

•The filmmaker handed the negatives over to Director NFAI, Prakash Magdum, in Mumbai. The National Film Archive of India was established as a media unit of the Ministry of Information and Broadcasting in 1964.

SPORTS

International Cricket Council released Manu Sawhney as CEO

•The International Cricket Council (ICC) has discontinued the services of Manu Sawhney as the Chief Executive Officer (CEO) with immediate effect. The decision was taken by the ICC Board during its meeting. Geoff Allardice will continue as Acting CEO supported by the Leadership Team working closely with the ICC Board.

•Sawhney was suspended in March following various allegations in an internal review conducted by an external agency. While Sawhney had referred to the review as a witch-hunt, the ICC Board on Thursday decided to sever ties with the sports management veteran.

APPOINTMENTS AND RESIGNATIONS

Shyam Srinivasan reappointed as MD & CEO of Federal Bank

•Federal Bank shareholders have approved the motion to re-appoint Shyam Srinivasan as the Managing Director and Chief Executive Officer of the lender for a period of three years. His reappointment will come into effect from September 23, 2021, to September 22, 2024. Srinivasan took over as Federal Bank MD & CEO in 2010 and has been at the helm since then.

•Srinivasan is among the few foreign bankers who chose to move to smaller Indian banks after fairly long, successful stints in foreign banks (the others include RBL Bank’s Vishwavir Ahuja and DCB Bank’s Murali Natrajan). Over the last decade, Srinivasan has been at the helm of Federal, the bank has transformed into a mid-sized private bank with a strong focus on retail business, including gold loans and funding small and medium entrepreneurs.

BOOKS AND AUTHORS

Book “The Pregnancy Bible” by Kareena Kapoor

•Kareena Kapoor Khan has announced her new book titled Kareena Kapoor Khan’s Pregnancy Bible. The actor has also called it her ‘third child. She shared her experience while writing the book.

•She was seen wearing a red slip dress as she kept her hair loose parting it in the middle. She was seen bare feet standing near the kitchen countertop.

BANKING AND ECONOMY

RBI imposed monetary penalty on 14 banks for non-compliance

•The RBI has imposed penalties on SBI, Bank of Baroda, IndusInd Bank, Bandhan Bank and 10 other lenders for contravention of various regulatory norms, including on lending to NBFCs. The penalty imposed on the 14 banks totals Rs 14.5 crore, with a maximum Rs 2 crore fine on Bank of Baroda.

•The central bank imposed Rs 2 crore penalty on the Bank of Baroda, Rs 1 crore each on 12 other banks and Rs 50 lakh on the State Bank of India. RBI imposed Rs 1 crore penalty each on Bandhan Bank, Bank of Maharashtra, Central Bank of India, Credit Suisse AG, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Punjab and Sind Bank, South Indian Bank, The Jammu & Kashmir Bank and Utkarsh Small Finance Bank.

Axis Bank and Max Bupa Health Insurance enter into a partnership

•Max Bupa Health Insurance, a standalone health insurer, has entered into a bancassurance partnership with Axis Bank, the country’s third-largest private sector bank. This partnership will help provide comprehensive health insurance solutions to Axis Bank’s employees and customers. The tie-up will enable millions of Axis Bank customers across 4,500 plus branches to gain access to quality healthcare solutions through a range of health insurance products offered by Max Bupa.

•Max Bupa Health Insurance will offer indemnity as well as fixed benefit products, and their customisable variants to the diverse customers of the bank across the country. Axis Bank also has an existing health insurance tie-up with Aditya Birla Health Insurance. Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products to the bank’s customers.