1. K.V. Chowdary is new CVC; Vijai Sharma new CIC
i. Former Chairman
of the Central Board of Direct Taxes, K.V. Chowdary, was on Monday, appointed
as the new Central Vigilance Commissioner, while the senior-most Information
Commissioner, Vijai Sharma, is the new Chief Information Commissioner.
ii. A selection
panel headed by the Prime Minister, which includes leader of the principal
opposition party, and senior cabinet ministers selects the CVC, CIC, vigilance
commissioners and information commissioners.
iii. The Central Vigilance
Commission is headed by a CVC and comprises two vigilance commissioners and
today’s appointment constitutes the full Commission.
iv. In the CIC,
there are vacancies of four Information Commissioners. The incumbents are
Basant Seth, Yashovardhan Azad, Sharat Sabharwal, Manjula Prasher, M A Khan
Yusufi and Madabhushanam Sridhar Acharyulu.
2. Yes Bank reappoints Rana Kapoor as MD
i. Yes Bank’s
shareholders have approved 12 resolutions which included the re-appointment of
Rana Kapoor as MD & CEO of the bank with a majority vote of 99.97%, sans
the vote of the Madhu Kapur family.
ii. In the bank’s
annual general meeting on Saturday, the shareholders also approved through a
special resolution the issuance of non-convertible debentures and bonds up to Rs
10,000 crore and also increased the borrowing limit of the bank to Rs 50,000
crore from Rs 30,000 crore currently.
iii. The bank got a
majority vote to increase the combined foreign portfolio investors (FPI) and
foreign institutional investors investment (FII) limits to 74% of the paid-up
capital of the bank.
iv. Shareholders
also re-appointed M R Srinivasan as non-executive non-independent director
(previously the chairman of Yes Bank) with a majority vote. Also, Diwan Arun
Nanda and Ajay Vohra have been appointed as independent directors.
3. Federal Bank slashes base rate by 25 bps to 9.95%
i. Federal Bank
today cut the base rate, or the minimum lending rate, by 0.25 per cent to 9.95
per cent.
ii. The new rates
will be effective from June 18, 2015.
iii. Soon after
RBI's second bi-monthly policy review for 2015-16 on June 2, a number of banks,
including largest public sector lender SBI, have cut the minimum lending rates.
iv. Among others,
Allahabad Bank, Dena Bank, Punjab National Bank, Central Bank of India and
Syndicate Bank have announced cut in base rates.
4. IOC to invest Rs 15,000 crore to raise Panipat
refinery capacity
i. Indian Oil Corp,
nation's largest oil firm, plans to invest about Rs 15,000 crore in raising
capacity at its Panipat refinery in Haryana by 34% to 20.2 million tonnes (MT)
by 2020.
ii. IOC owns and
operates eight refineries and has only a few weeks back added ninth refinery at
Paradip in Odisha.
iii. Its eight
refineries have a cumulative refining capacity of 54.2 MT of crude oil and
addition of 15 MT at Paradip refinery has helped it regain the top refiner slot
in the country.
iv. Essar Oil is
the only other private refiner having a 20 MT a year unit at Vadinar in
Gujarat.
v. Panipat Refinery
was commissioned in 1998 with a capacity of six MT per annum. The refining
capacity was doubled to 12 MT in 2006 and then raised by a further three MT to
15 MT in 2010.
5. Deutsche Bank makes John Cryan CEO after co-CEOs
Anshu Jain, Juergen Fitschen quit
i. Deutsche Bank
appointed John Cryan as its new CEO on Sunday after co-chief executives Anshu
Jain and Juergen Fitschen resigned following criticism from investors.
ii. John Cryan, 54,
has been on the bank’s supervisory board since 2013 and was a former chief
financial officer of UBS. He will replace Anshu Jain from July 1 and become the
sole CEO when Juergen Fitschen steps down next year, the bank said.
iii. Making Anshu
Jain directly responsible for cutting Deutsche Bank’s costs by 4.7 billion
euros ($5.2 billion), selling its Postbank retail business and paring back its
investment bank put huge pressure on the former trader.
6. SpiceJet signs deal to sell tickets to waitlisted
railway travellers
i. IRCTC's public
relations officer Sandip Dutta explained that the Railways have entered the
tie-up with SpiceJet and Go Air.
ii. It enables a train traveller whose ticket is wait-listed to cancel the
train ticket and instead get on to a flight of either airline by paying some
incremental fee.
iii. There are no
fixed sectors to which the scheme applies, no fixed number of tickets either
airline must make available to IRCTC and no fixed rates.
iv. This scheme
only applies to tickets booked at least three days prior to the date of the
journey, these train tickets can only be cancelled on a specific website and
flight tickets are available only for the day of the train journey or a day
prior to it.
v. SpiceJet
promoter Ajay Singh pointed out that this tie-up is promising for the airline
and he expects "significant" passenger volumes to be generated
through this scheme.
7. Stan Wawrinka stuns Novak Djokovic and Serena
Williams wins French Open after beating Lucie Safarova in final
i. Williams emerged with a 20th grand slam title
thanks to a 6-3, 6-7 (2-7), 6-2 victory over the Czech Lucie Safarova.
ii. The American is
now two short of Steffi Graf, the open era leader, and four off Margaret Court,
the all-time leader
iii. Her win over
Safarova was her fifth three-set victory of a tournament that was a struggle
almost from day one.
iv. Stan Wawrinka
played magnificently in a 4-6 6-4 6-3 6-4 victory at Roland Garros.
v. Wawrinka, 30,
brought an end to Djokovic's 28-match winning streak as he claimed his second
Grand Slam title.
vi. The victory
makes him only the second Swiss to win at Roland Garros after Roger Federer,
the man he beat in the quarter-finals.
8. Tintu Luka finally strikes gold as India finishes
3rd at Asian Athletics Championships
i. Tintu Luka
bagged her maiden gold in a major international event by winning the women's
800m finals as India finished with five medals on the final day of competitions
to sign off third in the 21st Asian Athletics Championships here today.
ii. India secured a
medal haul of 4 gold, 5 silver and 4 bronze in the championships to finish
third behind China (15, 13, 13) and Qatar (7, 2, 1). Japan (4, 3, 11) and
Bahrain (3, 3, 2) finished fourth and fifth respectively.
iii. This was
India's best finish after 2007 in Amman, Jordan where the country was placed
second.
National record
holder Luka clocked her season's best timing of 2:01.53 to clinch the gold at
Wuhan Sports Center.
iv. This was 26-year-old Luka's first individual title in a major
international event after breaking into the scene in 2008-09 with a lot of
promise under the tutelage of the legendary P T Usha.