Daily Current Affairs 27th November, 2016
Indian Navy’s seventh landing craft utility L-57 launched by GRSE
- Indian Navy’s seventh landing craft utility (LCU) L-57 was launched by Garden Reach Shipbuilders and Engineers Ltd (GRSE) in Kolkata, West Bengal.
- LCU L-57 is the largest ship of this kind built anywhere in the world.
- It is the seventh vessel in the series of eight LCU Ships being designed and built by GRSE for the Indian Navy.
- It is best suited for protection of India’s island territories of Lakshadweep islands in the Arabian Sea as well as Andaman and Nicobar in the Bay of Bengal.
RBI Introduces Incremental CRR To Manage Excess Liquidity In Banking System
- In order to absorb the surge in liquidity in banking system following demonetisation of high value notes, the Reserve Bank introduced an incremental Cash Reserve Ratio (CRR) of 100 per cent for the fortnight which began from 26th November 2016.
- CRR is the portion of the deposits which banks are required to park to the RBI.
- Currently it is at 4 per cent.
- As per the RBI guidelines, on the increase in NDTL, Net Demand and Time Liabilities between September 16 and November 11, scheduled banks shall maintain an incremental CRR of 100 per cent, effective the fortnight beginning November 26, 2016.
- As per the estimates, this could be 3.5 lakh crore rupees.
- It is intended to absorb a part of the surplus liquidity arising from the return of specified bank notes to the banking system.
- Thus, it leaves adequate liquidity with banks to meet the credit needs of the productive sectors of the economy.
- Cash Reserve Ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank.
- CRR is set according to the guidelines of the central bank of a country.
- The amount specified as the CRR is held in cash and cash equivalents, is stored in bank vaults or parked with the Reserve Bank of India.
- The aim here is to ensure that banks do not run out of cash to meet the payment demands of their depositors.
- CRR is a crucial monetary policy tool and is used for controlling money supply in an economy.
Union Government launches AirSewa website and app to track flights, register complaints
- The Union Ministry of Civil Aviation launched AirSewa website and app to track flights, register complaints to offer people a convenient and hassle-free air travel experience.
- Both include a mechanism for grievance redressal, back-office operations for grievance handling, flight status and airport information.
- Each grievance have a resolution timeline defined for initial response as well as final resolution and the nodal officer will communicate via an email and SMS.
- Theusers will also have the facility to upload voice or video along with an elaborate description of their issues.
Rajasthan Government to launch Annapurna Rasoi Programme to provide quality meal at cheap price
- Rajasthan Government has decided to start Annapurna Rasoi Programme to provide quality meal at cheap and affordable price to people belonging to the weaker section and labourers.
- The main beneficiary of the scheme will be rickshaw pullers, labourers, auto drivers, students, working women, elders and other weaker section.
Co-creator of MiG-29 Fighter Jet Ivan Mikoyan passes away
- He had the majority of his career as a leading engineer at the ‘MiG’ Aircraft Corporation’s design bureau, which was founded by his uncle Artyom Mikoyan.
- The Mikoyan MiG-29 (NATO reporting name: Fulcrum) is a twin-engine jet fighter aircraft. It was developed by the Mikoyan design bureau in the Soviet Union in 1970s.
- It was designed to counter new US fighters such as General Dynamics F-16 Fighting Falcon and McDonnell Douglas F-15 Eagle.
- It had entered service with Soviet Air Force in 1982.
Upma Chowdhary named first woman director of LBSNAA
- Upma Chowdhary was appointed as new Director of Lal Bahadur Shastri National Academy of Administration (LBSNAA) at Mussoorie.
- She will be the 23rd director and first woman director of LBSNAA.
- She will replace Rajeev Kapoor.
PLACES IN NEWS
Assam hill station Haflong to host festival on sports, culture
- Haflong will host the three-day ‘Judima Festival‘ next month when tourists can indulge in a number of adventure sports like trekking, hiking, angling and satiate their taste buds by gulping one of the best traditional brews of the region.
- The festival, named ‘Judima’ after the traditional Dimasa rice wine.
- The theme of the festival, to be held on December 18-20, will be centered on preservation, promotion and nurturing of ethnic culture, music, dance, craft and folk-art of Dimasa tribals living in Dima Hasao district of the state.
Sachin Singh becomes 3rd Indian boxer to win gold at Youth World Championship in 46-49 weight category
- Sachin Singh became only the third Indian boxer to win a gold medal at the Youth World Championships after registering a 5-0 unanimous win over Cuba’s Jorge Grinan in St. Petersburg, Russia.
- The 16-year-old boxer will be given Rs.1 lakh as a reward for his performance at the championship.