1.    RBI panel recommends one-licence policy for all banks
i. The
RBI’s vision of a uniform licence regime for the banking sector was proposed in
a panel report on Tuesday that recommended a one-licence policy for all banks ,
irrespective of the ownership pattern.

ii. This will include
all public sector, private sector (old and new) and foreign banks operating in
iii. Such a licensing regime would also
involve uniform investment limits across investor categories, irrespective of
ownership. Other than the Government’s own controlling stake, all other
investment limits recommended for private sector banks should also thereby be
applicable to public sector banks,” RBI said in its committee report.
iv. This was first suggested by the
banking regulator in a discussion paper in 2013.
v. This will facilitate larger pools of capital coming into the
nationalised banks and assist in improving market valuations. “For distressed
public sector banks, it provides the Government with another financing option
through the induction of private equity with board representation, a
partnership which could also help improve board governance,” the RBI said.
2.    UN Envoy on Syria Lakhdar Brahimi resigned
i. UN Envoy on Syria Lakhdar Brahimi on submitted his
resignation to UN Secretary-General Ban Ki-moon in New York. He will relinquish
the office on 31 May 2014.
ii. He was also the League of Arab States Special
Representative on the Syrian crisis.
iii. He was appointed as the peace-facilitator in Syria on 17
August 2012 to replace the former UN Secretary-General Kofi Annan.
iv. He was also a long-time
Special Advisor to the UN Secretary-General and was the Head of the UN
Assistance Mission in Afghanistan (UNAMA) from October 2001 to December 2004.
3.    Justice B S Chauhan appointed as the Chairman of CWDT
i. Justice
BS Chauhan, the Judge of the Supreme Court of India on was appointed as the
Chairman of the Cauvery Water Disputes Tribunal (CWDT). Justice Chauhan will
succeed Justice NP Singh. 

ii. Justice
Chauhan, who is due to retire on 1 July 2014, was appointed as the Chairman of
the Tribunal on the recommendation of the former Chief Justice of India,
Justice P Sathasivam.
4.    Kamal Haasan led Indian delegation at 67th Cannes
International Film Festival
i. Actor-filmmaker Kamal Haasan led the Indian delegation
at the 67th Cannes International Film Festival inaugurated in Cannes, France on
14 May 2014. The Festival will be held from 14 to 25 May 2014.
ii. Kamal Haasan is chairman of Federation of Indian
Chambers of Commerce and Industry (FCCI) Media and Entertainment
iii. Kamal Haasan inaugurated the Indian
Pavilion. The India Pavilion will showcase Indian cinema across linguistic,
cultural and regional diversity.
5.    Technopark–TBI selected for Golden Peacock Award 2014
i. Technopark
Technology Business Incubator (T-TBI) on 14 May 2014 was chosen for the Special
Commendation at the Golden Peacock National Training Awards 2014.
ii. T-TBI was honoured
for its successful conduct of Entrepreneurship training initiatives across the
state of Kerala. 
iii. T-TBI is the first business incubator
in India to receive the prestigious Golden Peacock award.
6.    CISF inducted as associate member of HI
i. Central Industrial Security Force (CISF) on 13 May 2014
was inducted as an associate member of Hockey India (HI).  The induction
of the CISF will enable it to take part in all the National championships.
ii. Hockey India currently has 26 permanent member units, 20
associate members, 2 members through State Olympic Associations, 5 Academy
Members and 1 Hoc-Key Member.
7.    April inflation eases to 5.2 per cent
i. Moderating onion prices eased wholesale inflation in
April ahead of new government formation. The Wholesale Price Index (WPI) in
April rose at the rate of 5.2 percent, according to official data released in
New Delhi on Thursday.
ii. The rate of WPI inflation in March was 5.7 per cent.
Consumers are unlikely to be able to notice the price changes as the latest
available official figures on retail inflation show the rate of price rise was
at a three-month high of nearly 8.6 per cent in April against 8.3 per cent in
iii. The headline inflation has shown a dip on the back of
moderation in prices of food articles, fuel and power. However, given the
recent increase in the diesel prices and uncertain outlook for monsoon, price
movements will have to be critically watched going ahead.