Current Affairs India - 15 June 2016

1. Union Cabinet has cleared the new Civil Aviation Policy today in order to increase regional air connectivity, and ease rules for airlines to fly overseas. It will help bring down the prices of air tickets by giving exemptions including service tax, customs duty, landing and parking fee and VAT. As per new policy, the airfares have been fixed at 2,500 rupees for one-hour long flights and removed the rule which restricted companies from flying abroad unless they have flown in India for 5 years and have fleet size of 20 aircraft.


2. The Union cabinet chaired by Prime Minister Narendra Modi has approved the takeover of its different subsidiaries by State Bank of India (SBI) of several subsidiaries. These are five SBI subsidiaries and state-run Bharatiya Mahila Bank, a bank for women set up in 2013. The combined entity will have an asset base of almost Rs 37 lakh crore, with 22,500 branches and 58,000 ATMs.


3. DBS Bank India, a part of Asia's foremost financial services group DBS Group Holdings Limited, has appointed Niraj Mittal as the Managing Director and Head of Institutional Banking for the country. He will report to Jeanette Wong, who is a Group Executive and Head of Institutional Banking Group in Singapore and Surojit Shome, CEO of DBS India.


4. Kolhapur-headquartered private sector lender RBL Bank (formerly known as The Ratnakar Bank Limited) has appointed Brijesh Mehra as the head of corporate banking at RBL.


5. Ranu Langthasa was unanimously chosen as the chairperson of the NC Hills Autonomous Council in Assam at a special session held in the NCHAC. With this, she became the first women chairperson since its inception in 1951.


6. Famous Hindi novelist and critic Mudrarakshas passed away. He was 82. His original name was Subhash Chandra and he wrote novels and other forms of Hindi prose.