Current Affairs - 28th March 2014

Deadline for BASEL-3 norms extended

The RBI extended the deadline for implementation of BASEL-3 norms of banks from 31st March 2018 to 31st March 2019. As per the BASEL-3 norms banks are asked to maintain their capital as:

Tier 1 capital: - 4.5% of common equity + 1.5% reserves. (Total 6%)

Tier 2 capital: - 2% and besides that an additional stock of 2.5%. (Total 10.5%)

WHO India launches IVR 2020

IVR 2020 is a scheme launched by WHO India to protect the endangered Rhinos of the country. As per this programme, number of rhinos should reach to 3000 by the year 2020 in Assam. It is to be noted that Kaziranga National Park, especially for rhinos is located in Assam.

Russia to set up own Payment system

Russian president Vladimir Putin has announced to set up country’s own payment system after U.S. companies Visa and Master Card suspended their services in Russia. This step was made by US in its strong opposition of seizure of Crimea by Russian government.

Before Russia, Japan had its own payment system named JCB and China’s Union Pay.

India has recently launched its own payment system through Rupay.

The Laureus Sports Award, 2014

In these sports award, Sebestian Vettel of Germany who is a F1 racer has received the Sportsman of the Year award whereas US swimmer Missy Franklin has become the sportswoman of the year. She has become the youngest individual to receive the honor. Rafael Nadal of Spain, the tennis sensation has bagged the “Comeback Award”.

The 25th Arab League Summit held

The 25th Arab League Summit has concluded in Kuwait, Iraq with the announcement of “Kuwait Declaration” to provide support to Arab nations which are facing strong social and political changes. Arab League is a group of 22 nations who are bound together by common Arabian culture. The member nations are:

Algeria, Bahrain, Comoros, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates and Yemen.

The secretary general of Arab League is Nabil el Araibi.