Current Affairs – Snippets – March 20, 2019

SBI And Bank of China Sign Agreement

  • The country’s largest bank SBI and Bank of China, (BOC) which is the world’s third largest bank have signed an agreement to boost business synergies between them.
  • Both the banks will gain access to their respective markets of operations, through this agreement.
  • The clients of both banks can use the extensive branch network of these organizations for their business benefits.
  • SBI already has a branch in Shanghai, China and BOC is shortly opening a branch in Mumbai.
  • BOC, which is China’s most diversified bank, provides a comprehensive range of financial services to customers across the Chinese mainland as well as 51 countries.
  • Its core business is commercial banking, including corporate banking, personal banking and financial markets services.

Diksha Dagar Creates History By winning Ladies European Tour (LET) Golf Tournament

  • Diksha Dagar became the youngest (18 years) Indian woman to win the LET at Cape Town.
  • Aditi Ashok was the first ever Indian woman to won this prestigious tournament.
  • Born in 2000, she has a hearing impairment, but she overcame this challenge to win the tournament and carve out a name for her in the history of the game.
  • She represented India at the 2017 Summer Deaflympics and won a silver medal.
  • Her other titles include:
    • Hero Women’s Pro Gulf Tour 2017
    • Singapore Ladies Amateur Open 2018
    • Queen Sirikit Cup 2018
  • Her father Sri Narinder Dagar, who served in the Indian Army supports her and helps her in coping with the hearing problem. Diksha is a left handed golfer. 

Bengaluru FC Wins 2018-2019 Edition of Indian Super League (ISL)

  • Bengaluru FC defeated FC Goa 1-0 in the final match of ISL 2019.
  • Bengaluru FC is owned and operated by Mumbai based JSW group, whose head is Sajjan Jindal.
  • ISL is the men’s franchise-based football league in India.
  • Along with I-League, this is one of the most important football leagues in India. Officially, this tournament is known as Hero India Super League.
  • There are 10 teams competing in this tournament, which is played for 7 months in a year.
  • This tournament was launched in 2013 in partnership with IMG, Reliance Industries and Star Sports.
  • Chennaiyin is a major team in ISL which has won the title on 2 occasions.

L&T Bid To Acquire Sizable Stake In Mindtree

  • Engineering giant L&T announced that it has reached an agreement to acquire 20.32% stake valued at Rs.980/= per share, by buying them from Siddhartha, who is the founder-owner of “Café Coffee Day”.
  • However, there is strong resistance to this move from the promoters of Mindtree. They called it “grave threat and value-destructive”
  • L&T CEO Sri.Subrahmanyan has termed this acquisition as “pyar and not war” and has assured that Mindtree would be run as independent company, with the investment of L&T.
  • Mindtree Limited is an IT company headquartered at Bengaluru. Founded in the year 1999, presently it has around 20000 employees, with an annual revenue of USD 846 million.
  • Mindtree’s business is structured around clients in verticals such as Banking, Capital Markets, Consumer Devices & Electronics, Consumer Packed Goods, Independent Software Vendors, Manufacturing, Insurance, Media & Entertainment, Retail, Semiconductors and the Travel and Hospitality industry.
  • Mindtree was incorporated through the efforts of 10 IT professionals in the year 1999.

Trump Intends To Designate Brazil As A Major Non-NATO Ally

  • US President Trump has recently announced that he intends making Brazil as a major non-NATO ally.
  • This announcement will cement America’s ties with the Latin American country, where China has made deep strides.
  • Brazil is already a member of the BRICS nation – BRICS stands for Brazil, Russia, India, China and South Africa.
  • US always considers Russia and China as major threats to its national security.
  • NATO which stands for North Atlantic Treaty Organization consists of 29 member nations from North America to Europe.
  • It was established in 1949. America has expressed interest to quit NATO. But no decision has been taken so far.
  • Jair Bolsonaro is the President of Brazil.

Formation Of Lokpal And Its Functions

  • Retired Justice Sri. Ghose has been appointed as the Chairperson of Lokpal.
  • The President of India has also appointed 4 judicial and 4 non-judicial members to the Lokpal.
  • The Lokpal can initiate enquiry against Prime Minister when there is an allegation of corruption charge.
  • However, it cannot exercise this power in allegations of corruption related to international relations, external and internal security, public order, atomic energy and space.
  • The Lokpal will also have the power of inquiry into allegations of corruption against sitting and former Ministers and MPs, but not in respect of anything said, or a vote cast, by them in Parliament or any House committee
  • It will also have jurisdiction over all classes of public servants.

India Finishes 2nd In The Medals Tally Of Asian Youth Athletics Championships

  • Indian youth team finish second in the overall medals tally with a total of 26 medalsincluding eight gold, nine silver and nine bronze medals.
  • China topped the overall medals tally with 31 medals that included 12 gold, 11 silver and eight bronze medals.
  • Japan finished third with 20 medals that included 6 Gold, 8 Silver and 6 bronze.
  • The 2019 Asian Youth Athletics Championships was the 3rd edition which was held in Hong Kong.
  • The Championship is organized by Hong Kong Amateur Athletic Association.

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