TNPSC Current Affairs 2017 February 16

1.Center approves Food Legumes Research Platform to be set up at Amlaha

Central Government has approved for establishment of Food Legumes Research Platform at Amlaha, Sehore in Madhya Pradesh.

The Union Cabinet chaired by Prime Minister has given nod for setting up of food Legumes Research Platform in Madhya Pradesh with satellite Hubs in West Bengal for Pulses and Rajasthan for Natural Resource Management for meeting the emerging food security challenges.

An Official statement “the establishment of Food Legumes Research Platform in India will enable India to harness the best science in meeting the emerging food security challenges. India would be able to rapidly and effectively absorb the research output achieved in the  country by  FLRP (Food Legumes Research Platform)

A major international R&D institution will make India an even bigger center for agricultural research in the world and this in turn, will attract further research & development investment in the country. ICARDA has a good track record of innovation, as in climate resilient technologies including suitable food legume verities for dry land production systems.

The research will be towards reducing poverty, improving food security, improving nutrition and health, and sustaining the natural resource base.   The output will help all the farmers.”

2. Union Cabinet approves merger of Five associate banks with SBI

The Union Cabinet has approved the merger of five associate banks with SBI (State Bank of India), including State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State bank of Patiala, State bank of Mysore and State Bank of Travancore

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The Proposed merger will create one of the largest lender of Asia and  to among the top 50 global lender for the first time. The Merger proposal was announced in May 2016 and was scheduled for March 2017. This is the first move to consolidate the country’s struggling Public sector Bank.

Gvt Statement – “The merger is likely to result in recurring savings, estimated at more than Rs 1,000 crore in the initial year, through a combination of enhanced operational efficiency and reduced cost of funds,”. 

State bank of India also boast of 22,500 branches and 58,000 ATMs post-merger. It has about 16,500 branches which includes 191 branches across world.