DAILY GK UPDATE – 13th May

1.   
Lt Gen Dalbir Singh Suhag
to be next Army Chief
i. Lt Gen Dalbir Singh Suhag will be the next Army
Chief succeeding Gen Bikram Singh as the government on Tuesday appointed him to
the top post, ignoring protests from BJP. 

ii. The Appointments Committee of the Cabinet, headed by Prime
Minister Manmohan Singh, approved the recommendation of the Defence Ministry a
day after it was received, sources said. 

iii. 59-year-old
Lt Gen Suhag, a Gurkha officer, is currently the Vice Chief of Army Staff and
the seniormost among the Lt Generals. 
iv. He
will have a tenure of 30 months as the Chief of the force when he takes over
from Gen Singh who retires on July 31. 

v. An
alumnus of Sainik School, Chittorgarh, Suhag joined NDA in 1970 and was
commissioned into 4/5 GR (FF) in June 1974. 
2.   
Maj. Gen. Kristin
Lund

is first woman to lead UN force
i. Secretary-General Ban Ki-moon appointed the first
woman to command a United Nations peacekeeping force a Norwegian general who
has served in Lebanon, the first Gulf War, Bosnia and Afghanistan. 
ii. Norwegian Maj. Gen. Kristin Lund will replace Chinese Maj. Gen. Chao Liu
on Aug. 13 as commander of about 1,000 UN peacekeepers in Cyprus, UN spokesman
Stephane Dujarric announced on Monday. 
iii. Lund, 55, joined the Norwegian army in 1979 and went on her
first overseas mission in 1986 as transport officer with the UN peacekeeping
mission in Lebanon.
iv. She said that’s
where she fell in love with the United Nations and learned that “maybe the
most important weapon that you have is communication and to build relations.
v. After her
appointment as Norway’s first female major general in 2009, she took over
command of 45,000 light infantry troops as chief of staff of the Norwegian Home
Guard. In January, she was chosen to head veterans affairs on the Norwegian
Defense Staff. 
3.    Govt likely to infuse additional capital of up to Rs.
8000 crore in public sector banks
i. The government is likely to infuse an
additional capital of upto 8,000 crore rupees in the public sector banks during
the current fiscal, to expand their capital base. 
ii. This was disclosed by Financial Services
Secretary GS Sandhu in New Delhi yesterday. He said, a provision of 11,500
crore rupees have been made in the interim budget. The government had infused
14,000 crore rupees in PSU banks during the last financial year.
iii. According to RBI, Indian PSU banks will require an
additional capital of five lakh crore rupees to meet the new global banking
norms.
iv. He said, the gross NPAs in January to March quarter in
2013-14, came down to 4.44 per cent from 5.07 per cent in the previous quarter
of October-December of the same fiscal. 

v. The Secretary said, the banks may
go for change in management of the parties who wilfully do not clear their dues.
4.    State-run banks needs up to Rs. 5.87 trillion in core
capital by March 2018
i. A RBI report has said that state-run
banks will require up to 5.87 trillion rupees in core capital by March 2018 as
they migrate to the capital intensive Basel-III framework.

ii. The panel on ‘Governance of
Boards of Banks’ headed by former Axis Bank chairman PJ Nayak said that
the government may have to arrange 3.50 trillion rupees of this requirement.
iii. The report further says that capital
needs of public sector banks, increasing because of loan loss provisions, could
begin to affect the fiscal health unless an overhaul of bank governance can
lead to better management of public sector banks.
iv. The Basel-III norms were evolved after close
consultation between the global central banks, following the global financial
crisis of 2008. The Reserve Bank introduced the Basel III capital regulations
for banks effective April 1 this year.

v. Meanwhile, the panel has also
expressed the need for bank licensing regime to move to a uniform mode.
5.    RBI panel for diluting govt stake in public sector
banks to below 50 %
i. The
government should cut its holding in public sector banks to under 50 per cent,
a Reserve Bank of India (RBI) panel report on Tuesday said, criticising the way
in which the lenders are now being governed.
ii. The panel, headed by
ex-Chairman of Axis Bank, P. J. Nayak, said governance at the 26 public sector
banks (PSBs) suffered due to several ‘externally imposed constraints’ like dual
regulation by the RBI and the Finance Ministry, and external vigilance by
agencies such as the CVC and CAG, among others.
iii. The panel says the government should
distance itself from several governance functions and repeal the Bank
Nationalisation Acts of 1970 and 1980, together with the SBI Act and the SBI
(Subsidiary Banks) Act.
iv. All banks should be incorporated
under the Companies Act and a Bank Investment Company should be constituted
where the government holding in all the banks should be transferred, the report
says.
6.   
Manipur
crowned Senior National Women’s Football champions
i. Manipur outplayed defending champions Orissa 3-1 to
clinch the 20th Senior National Women’s Football Championships title in Assam
today.
ii. Bala Devi struck twice in the third
and 55th minute as Oinam Bembem Devi scoring in between in the 20th minute.
Orissa reduced the margin in the dying minutes of by Sakina Nesa’s close-range
strike but it was too little too late for the defending champions.
iii. Manipur last won the Championships in
2010.
7.   
Oscar-winning
Swedish director Malik Bendjelloul dies
i. Oscar-winning Swedish director Malik Bendjelloul died at
the age of 36. Police say his body was found yesterday in the Stockholm area.

ii. They could not confirm the cause
of death but said no crime was suspected.
iii. He was best known for Searching
for Sugar Man which won the Oscar and Bafta prizes for best documentary in 2013.


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