Top Current Affairs Of The Day: 20 June 2022

Fitch Downgrades Nine Indian Banks’ IDRs To Stable

Fitch Ratings upgraded nine Indian institutions, including ICICI Bank and SBI, from negative to stable. Other lenders include Bank of India (BOB), UBI, and UBI.

Highlights:

  • Fitch Ratings upgraded nine Indian institutions, including ICICI Bank and SBI, from negative to stable, including Axis Bank, SBI and Punjab National Bank (PNB). Bank of Baroda (New Zealand), Ltd., Bank of Baroda (BOB), Bank of India (PNB), Canara Bank (CANB), and Union Bank of India (UBI) are the other lenders. 

  • Fitch Ratings upgraded nine banks based in India’s Long-Term Issuer Ratings from Negative to Stable while maintaining their IDRs.

  • Fitch’s assessment that the sovereign has the ability and tendency to provide extraordinary support for these institutions is the basis of the IDRs. This evaluation also takes into consideration Fitch’s assessment of the sovereign’s inclination or ability.

RBI’s ‘Payments Vision 2020’ aims to increase digital payments by threefold

According to industry leaders, the RBI’s Payments Vision 2025 plan seeks to triple the volume digital payments and is progressive.

Highlights:

  • According to industry professionals, the Payments Vision 2025 plan by the Reserve Bank seeks to triple the volume digital payments and is progressive. 

  • It plans to make India a global payment powerhouse.

  • The Reserve Bank of India’s Payments Vision 2025 document was released in light of increasing geopolitical threats. It discusses ring fencing domestic payment networks and the necessity of implementing domestic processing of payments transactions.

Neeraj Chopra To Lead Athletics Team For CWG 2022

The Athletics Federation of India announced that Neeraj Chopra will lead a 37-member Indian team at the Commonwealth Games.

Highlights:

  • The Athletics Federation of India announced that Neeraj Chopra will lead a 37-member Indian team at the Commonwealth Games.

  • The Tokyo Olympics gold medallist would be the flag bearer in Birmingham as star sprinters like Dutee Chand and Hima Das booked their berth for the Games that will be held from July 28 – August 8.

  • With zero surprises, the selection committee selected all expected athletes for CWG. 

  • Eighteen of the 37 members are women. Hima Das and Dutee Chand, both star sprinters, reserved their berths for the women’s 4x100m relay teams. The selectors selected a men’s team for the 4x400m relay. Amoj Jacob has been selected for the men’s 4x400m relay squad.

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