International Day of the World's Indigenous Peoples: 9 August
· This year’s International Day of the World’s Indigenous Peoples’ is devoted to the right to education.
· The right of indigenous peoples to education is also protected by a number of other international human rights instruments, including the Universal Declaration of Human Rights.· Goal 4 of the 2030 Agenda for Sustainable Development calls for ensuring equal access to all levels of education and vocational training for the vulnerable, including persons with disabilities, indigenous peoples and children in vulnerable situations.
RajyaSabha passes ‘patient-centric’ Mental Health Care Bill 2013
· The RajyaSabha on Monday unanimously passed the Mental Health Care Bill 2013, which seeks to provide better healthcare to people with mental illness and safeguard their rights.· The bill gives one the right to select a representative, who will design the mode of treatment according to which the person will be treated if he/she gets diagnosed with a mental illness.
· “This person would be a nominative representative, who has a similar cultural background as the patient and is aware of his likes and dislikes,” said Union health minister JP Nadda, while introducing the bill.
RBI keeps policy rates unchanged in 3rd bi-monthly monetary policy review
The Reserve Bank of India (RBI) in its third bi-monthly monetary policy review for year 2016-17 has maintained status quo in key policy interest rate. It was last bi-monthly monetary policy review of RBI Governor Raghuram Rajan who will step down in September 2016 after completing his term.
Policy Rates
- Repo rate under the liquidity adjustment facility (LAF): unchanged at 6.50 per cent.
- Reverse repo rate under the LAF: unchanged at 6.0 per cent.
- Marginal standing facility (MSF) rate:00 per cent.
- Reserve Ratios Cash Reserve Ratio (CRR) of scheduled banks: Unchanged at 4.0 per cent of net demand and time liability (NDTL).
- Statutory Liquidity Ratio (SLR): Unchanged at 21.25 per cent.
NPA of commercial banks increased by around 4%: Government
The Union Government has announced that the Non-Performing Assets (NPA) of commercial banks have increased by around 4% in the last one year (March 2015 to March 2016). It was announced by Union Minister of State for Finance (MoS) Santosh Gangwar in a written reply to the Rajya Sabha.
Key facts
- The NPA of banks was 5.43 percent in March 2015 which has risen to 9.32 percent in March 2016.
- The high incidences of NPAs are mainly related to power, road, steel, textiles and other sectors.
- NPA amounts are related to 417 stalled infrastructure projects where public sector banks have invested is over 66478 crore rupees.
- Union Government has taken several steps to revive these stalled projects. Besides, the Reserve Bank of India (RBI) has also issued guidelines for restructuring of loans.
What are Non-Performing Assets (NPA’s)?
- NPAs (also called non-performing loans) are loans made by a bank or finance company on which repayments or interest payments are not being made on time.
- The loan is considered to be a NPA once the borrower fails to make interest or principal payments for 90 days.
- In case of Agriculture/Farm Loans, the NPA varies for of Short duration crop loan (interest not paid for 2 crop seasons), Long Duration Crops (interest not paid for 1 Crop season).
- Thus, NPA is any asset of a bank which is not producing any income. It affects the profitability & liquidity of the banks.
- It adversely affects the value of bank in terms of market credit and widens assets and liability mismatch. It results in inflating the cost of capital for economic activities and banks may charge higher interest rates on some products to compensate NPAs.
PM Narendra Modi launches Yaad Karo Kurbani celebrations
Prime Minister Narendra Modi launched Yaad Karo Kurbani (remember the sacrifices) celebrations at birthplace of freedom fighter Chandra Shekhar Azad at Alirajpur, Madhya Pradesh. The Yaad Karo Kurbani is 15-day programme aimed to commemorate 75th anniversary of the Quit India Movement (QIM) and 70 years of Independence.
Key Facts
- The 70 saal Azaadi, Yaad karo Qurbani campaign is aimed at developing a feeling in every person that nation is first and individual is secondary.
- It seeks to provide an opportunity for the people to recall the supreme sacrifices made by freedom fighters during freedom struggle.
- Central ministers will visit various historic locations associated with freedom movement to rekindle the patriotism fervour in the country and ensure a festive atmosphere.
- The focus of the campaign is to reach out to youngsters and inform them of the unsung heroes and the history of the freedom struggle.
- Commemoration events for freedom struggle heroes will also be organised at their hometowns and villages.
Abhijeet Gupta wins Commonwealth Chess Championship
· Grandmasters S L Narayanan and Deep Chakkravarthy got the silver and bronze medals respectively in the open section, while Mary Ann Gomes and KiranManishaMohanty reached the podium in the women's section.
