Current Affairs – February, 2019

Latest Current Affairs February, 2019 with Current Affairs, news summary on current events of National and International importance of February, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Capital Infusion of Rs. 48,239 Crore into 12 State-Run Banks

The government has approved the capital infusion of Rs. 48,239 Crore into 12 State-Run Banks. The capital inclusion has been undertaken to ensure the lenders are able to maintain regulatory capital requirement and step up lending and boost overall growth.

With this latest capital infusion, the government has now the government has now provided Rs 1,00,958 crore out of the Rs 1.06-lakh-crore bank recapitalisation plan. The remaining Rs. 5,000 crore capital infusion would be used as a buffer for any contingency or growth capital for Bank of Baroda which is in the process of merging Dena Bank and Vijaya Bank with itself.

How the capital infusion will benefit these PSBs?

RBI has lifted the curbs under the Prompt Corrective Action framework on Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC) in early 2019. Eight other PSBs — Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank, UCO Bank, Central Bank of India, Indian Overseas Bank and Dena Bank are still under PCA. PCA imposes curbs on expansion activities, among a number of other restrictions to help them get back to fiscal health.

The capital infusion has been undertaken to ensure that state-run lenders, which have emerged out of the PCA, remain above the triggers and help others such as Indian Overseas Bank, Central Bank, United Bank and UCO Bank meet minimum regulatory capital requirements.

President Trump Signs Directive to Create a Military Space Force

President Trump has signed a directive to create a Military Space Force. The directive orders the Pentagon to establish the Space Force as the sixth branch of the United States military, to go along with the Army, Navy, Air Force, Marines and Coast Guard.

Military Space Force

The main goal of the Space Force is to secure and extend American dominance of the space domain. The features of the Military space force are:

  • Rather than deploying soldiers in space, the Space Force will focus on national security and preserving the satellites and vehicles that are dedicated to international communications and observation.
  • Space could be a new warfighting domain and the US aims to be combat ready with Military Space Force.
  • The Space force will be responsible to deter and defeat threats in space and will organize, train, and equip military space forces.
  • The Space force will ensure unfettered access to, and freedom to operate in space, and to provide vital capabilities to joint and coalition forces.

Details about the Space Force like exactly how much it might cost remains unclear. The creation of military space force to materialise requires approval from the US Congress.

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