Current Affairs May, 2017

The Union Cabinet has cleared an ordinance that seeks to amend the Banking Regulation Act to give more powers to Reserve Bank of India to deal with non-performing assets (NPAs) in the banking sector.

• Vijayawada Airport becomes International Airport
• Banganapalle Mango of Andhra Pradesh gets GI Tag
• Indian Army Test-Fires Advanced Version of Brahmos Cruise Missile

The Registrar of Geographical Indications Registry, Chennai, has accorded GI Tag for the much famed Banganapalle Mango of Andhra Pradesh.

The Union Cabinet has granted international airport status for the Vijayawada Airport. The approval was given as per provisions of Andhra Pradesh Reorganisation Act, 2014.

Apple has reported over $256 billion in cash and marketable securities. In the previous year, Apple’s earnings report for the January-March quarter was $233 billion.

China plans to launch its own online encyclopaedia next year rivalling Wikipedia and Britain’s Encyclopaedia Britannica.

US-based think tank Global Financial Integrity (GFI) in its report titled ‘Illicit Financial Flows to and from Developing Countries: 2005-2014’, has estimated that $770 billion worth of black money entered India during 2005-2014.

World’s highest railway bridge which will be 35 metres taller than the Eiffel Tower is to come up over the Chenab River in Jammu and Kashmir at a cost of around Rs. 1,100 crore in around two years from now.

Indian Army has successfully test-fired advanced Block-III version of Brahmos cruise missile in the Andaman and Nicobar Islands.

Sualgiri and Swalgiri communities of Odisha have been notified as Scheduled Castes after President Pranab Mukherjee gave his assent to the Constitution (Scheduled Castes) Order (Amendment) Act, 2017.

• Uttar Pradesh: An Ambulance Service for Cows Flagged-Off
• India’s Second Tallest Flag Pole inaugurated in Kolhapur
• HRD Minister Prakash Javadekar launches Vidya-Veerta Abhiyan

Fitch, in its latest rating review, has affirmed India’s sovereign rating at BBB-, which is the lowest investment grade rating. Despite pressure from the government and corporate for an upgrade in the rating, Fitch has kept its sovereign rating on India unchanged.