Daily Current Affairs, 25th May 2019

1) Naveen Patnaik set for fifth term as Odisha CM

•Odisha’s ruling Biju Janata Dal (BJD) headed by incumbent Chief Minister Naveen Patnaik is all set to form a government for a fifth consecutive term. The new Cabinet is likely to be sworn-in on 27th May.

•The final Election Commission (EC) tally shows that the BJD won 112 of the 146 Assembly seats for which elections were held. The Bharatiya Janata Party (BJP) bagged 23, the Congress nine, the CPI(M) one and a solitary Independent was also elected.

2) India bans Jamaat-ul-Mujahideen Bangladesh terror outfit

•The Jamaat-ul-Mujahideen Bangladesh also called as Jamaat-ul-Mujahideen India or Jamaat-ul-Mujahideen Hindustan has been declared as a banned terrorist organization by the government of India.

•The home ministry stated the outfit has committed acts of terrorism, promoted acts of terrorism and has been engaged in radicalization and recruitment of youths for terrorist activities in India. Therefore, the Jamaat-ul-Mujahideen Bangladesh or Jamaat-ul-Mujahideen India or Jamaat-ul-Mujahideen Hindustan and all its manifestations have been inserted in the First Schedule to the Unlawful Activities (Prevention) Act, 1967.

3) NSA Ajit Doval addresses 17th Investiture Ceremony of BSF in New Delhi

•National Security Advisor Ajit Doval has stated that technology will play a pivotal role in guarding the borders in days to come as security challenges are increasing day by day. Doval was addressing 17th Investiture Ceremony of Border Security Force, BSF in New Delhi.

4) Corporation Bank launches ‘Corp SME Suvidha’ for MSMEs

•Corporation Bank has launched ‘Corp SME Suvidha’, a product for GST-registered MSMEs. The product has been designed as part of the bank’s efforts to provide the best products to the MSME sector.

•PV Bharathi, Managing Director and Chief Executive Officer of the Corporation bank,launched the product in Mangaluru recently.

5) RBI releases draft norms on liquidity risk management for NBFCs

•RBI stated that all non-deposit-taking non-banking financial companies (NBFCs) with an asset size of Rs 5,000 crore and above, and all deposit-taking NBFCs irrespective of their asset size, have to maintain a liquidity buffer in terms of a Liquidity Coverage Ratio (LCR).

•In a draft on liquidity risk management framework for NBFCs and core investment companies, these measures will promote resilience of NBFCs to potential liquidity disruptions by ensuring they have sufficient High-Quality Liquid Asset (HQLA) to survive an acute liquidity stress scenario lasting for 30 days. The banking regulator proposed that it will implement LCR through a glide path from 01st April 2020 to 01st April 2024.

6) India bags 57 medals at India Open International tournament

•India bags a total of 57 medals including 12 Gold, 18 Silver and 27 Bronze at India Open International Boxing tournament in Guwahati. MC Mary Kom, Shiva Thapa, L Sarita Devi, and Naman Tanwar won gold in their respective finals. The London Olympic bronze medallist blew away the challenge of Vanlal Duati in a facile 5-0 win.

•This was Mary’s second gold in the tournament, having won in 48 kg last year in the capital. On the other hand, Deepak defeated Govind Kumar in 49 kg final while in 52 kg category- Amit Panghal defeated Sachin.