Dinesh K. Khara elected as SBI (State Bank of India) MD
On 9th August 2016, Dinesh Khara was selected as SBI (State Bank of India) MD (Managing Director). He will work for SBI for three years. This period is extendable to another 2 years based on performance. He was appointed by the ACC (Appointments Committee of Cabinet). Khara is presently acting as CEO & MD of SBI FMPL (Funds Management Pvt Ltd). Similarly, Ashok K Garg was elected as ED (Executive Director) of BOB (Bank of Baroda). Raj K. Verma was elected as ED of UBI (Union Bank of India). Gopal M Bhagat is appointed as Corporation Bank ED. Himanshu Joshi is appointed as OBC (Oriental Bank of Commerce) ED. SBI is government-owned corporation.
Michael Phelps grabs his 21st Olympic Gold
Michael Phelps grabs his 21st Olympic Gold on 7th August 2016. He is the one of the top known swimmer of the world. He is an American Swimmer. During this ongoing Rio Olympics, Phelps has grabbed two gold medals as of yet. His 1st gold medal was in 4x100m freestyle relay. He won his 2nd gold in 4x200m freestyle relay. He was also a finalist in the 200 m butterfly event. Altogether, Phelps has now 21 Olympic Golds in his kitty. The total number of Olympic Medals in his kitty is 25.
Irom Sharmila’s 16-year-long fast ends
Irom Sharmila’s 16-year-long fast ended on 9th August 2016. She is popularly known as Manipur’s Iron Lady. She has been on a hunger strike for 16 years outside the JNIMS, Imphal, Manipur. From November 2000, Sharmila ate via nasal tube. She has spent majority of her days under judicial custody in an Imphal hospital. After ending the fast, she announced her wish of becoming Manipur CM. She expects to change the state positively after becoming CM. She started her hunger strike when she was 28. Her main demand was annulling AFSPA Act (1958) in Manipur.
Narendra Modi launched 70 SAYKK celebrations
On 9th August 2016 Narendra Modi launched 70 SAYKK celebrations. The 70 ‘Saal Azaadi, Yaad Karo Kurbani’ was celebrated in Alirajpur, MP. Freedom fighter CSA (Chandra Sekhar Azad) was born here. The program will be celebrated for 14 days. The objective is celebration of 75th QIM (Quit India Movement) and India 70th Independence. It aims to develop a feeling of nation as priority among individuals.
RBI released 3rd Bi-monthly MPS 2016-17
RBI released its 3rd Bi-monthly MPS (Monetary Policy Statement) 2016-17 on 9th August 2016. The RR (repo rate) under the LAF (Liquidity Adjustment Facility) is kept same at 6.5 %. Various changes were announced during this policy. The RR was kept same at 6.5 %. The reverse RR was also unchanged at 6.0 %. The CRR was also unchanged at 4 % of NDTL. The MSF (Marginal Standing Facility) rate was kept at 7.0 %. Bank Rate was kept at 7.0 %. Economy is varied in emerging markets. In Russia & Brazil, recession is gradually decreasing. WTC was sluggish during 2016 first half.
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