RBI lifts per-borrower loan cap for MSMEs
• RBI has decided to do away with the per borrower loan limits to Micro/ Small and Medium Enterprises for classification under priority sector lending.
• In view of the increasing importance of the services sector and to encourage banks to lend more to this sector, the
• So far, loans to Micro/ Small and Medium Enterprises up to ?5 crore and ?10 crore, respectively, were classified as PSL.
Paschim Lehar exercise concluded
• Paschim Lehar, a three-week tri-service maritime exercise off India’s western coast, in which several ships, submarines and fighter aircraft participated, has concluded.
• The objective of the exercise, which commenced on February 12, was to build interoperability.
• Over 40 naval assets including the aircraft carrier INS Vikramaditya, participated in it.
Venkatesh quits as BCCI selection chairman
• Former India pacer Venkatesh Prasad submitted his resignation from the post of chairman of the junior national selection committee.
• Prasad, who cited personal reasons for stepping down, has worked as the head of the committee for 30 months.
• Acting president CK Khanna said that he tried convincing Prasad to stay but he had made up his mind.
PNB And ICICI Bank Increases MCLR Rates
• The Punjab National Bank (PNB) and ICICI Bank hiked the MCLR rates for loan borrowers.
• Taking a cue from SBI, country’s second-largest private sector lender ICICI Bank also raised the one-year MCLR from 8.2% to 8.3%.
• The PNB, which is at the centre of Nirav Modi fraud also increased one-year MCLR to 8.3% from 8.15%.
Armen Sarkisian elected as Armenian President
• Armenian lawmakers elected Armen Sarkisian as the new president of Armenia.
• He will succeed Serzh Sarkisian. Armen Sarkisian was the ambassador to the United Kingdom.
• He will assume presidential duties after his predecessor steps down in April 2018.
Azlan Shah Cup Hockey Tournament Begins
• The 27th Sultan Azlan Shah Cup Hockey tournament begins in the Malaysian city of Ipoh.
• Six nations – India, hosts Malaysia, defending champions England, Australia, Argentina and Ireland – are taking part in the tournament.
• India, currently the world number six side, will take on world number two Argentina in their opening round-robin match.
India to help build plant in Bangladesh
• India, Bangladesh and Russia have signed a tripartite memorandum of understanding (MoU) for cooperation in the construction of the Rooppur nuclear power plant in Bangladesh.
• The MoU was signed in Moscow by the Department of Atomic Energy of India, the Ministry of Science and Technology of Bangladesh and Rosatom.
• Russia is building the nuclear power plant in Bangladesh on a turnkey basis.
Bronze for Sakshi in Asian championship
• Olympics bronze medallist Sakshi Malik had to settle for a bronze medal in Asian championship.
• She lost by 6-6 to eventual silver medallist Xiaojuan Luo of China in a 62kg first round bout.
• In the repechage rounds, Sakshi defeated Jiae Choi of Korea 11-0 and Ayaulym Kassymova of Kazakhstan 10-7 to bag the bronze.
Navjot Kaur wins 65kg Asian gold
• Navjot Kaur became the first Indian woman to claim a gold medal in the Asian wrestling championships.
• She defeated Imai Miyu of Japan in the final to win the 65kg title in the Kyrgyzstan capital.
• Navjot, bagged Asian bronze (2011) and silver (2013) medals and a Commonwealth Games bronze medal (2014).
No trans fees on rail tickets with debit card
• The Indian Railways has announced that Merchant Discount Rate (MDR) charges won’t be levied on passengers for booking railway tickets through debit cards.
• These transactions include those made at the railway ticketing counters as well as through IRCTC ticketing website.
• However, the exemption has been granted only on the bookings made for an amount of up to ?1 lakh.
Vinesh bags silver in Wrestling Championships
• Indian wrestler Vinesh Phogat won a silver medal at the ongoing Asian Wrestling Championships in Bishkek, Kyrgyzstan.
• Phogat lost to Chinese wrestler Chun Lei by a margin of 2-3 in the women’s 50kg freestyle final.
• This is Phogat’s second consecutive silver at the annual event, following her podium finish at the tournament in New Delhi in 2017.