RBI panel recommends one-licence policy for all banks

1.    RBI panel recommends one-licence policy for all banks

i. The RBI’s vision of a uniform licence regime for the banking sector was proposed in a panel report on Tuesday that recommended a one-licence policy for all banks , irrespective of the ownership pattern.

ii. This will include all public sector, private sector (old and new) and foreign banks operating in India.

iii. Such a licensing regime would also involve uniform investment limits across investor categories, irrespective of ownership. Other than the Government’s own controlling stake, all other investment limits recommended for private sector banks should also thereby be applicable to public sector banks,” RBI said in its committee report.

iv. This was first suggested by the banking regulator in a discussion paper in 2013.

v. This will facilitate larger pools of capital coming into the nationalised banks and assist in improving market valuations. “For distressed public sector banks, it provides the Government with another financing option through the induction of private equity with board representation, a partnership which could also help improve board governance,” the RBI said.

2.    UN Envoy on Syria Lakhdar Brahimi resigned

i. UN Envoy on Syria Lakhdar Brahimi on submitted his resignation to UN Secretary-General Ban Ki-moon in New York. He will relinquish the office on 31 May 2014.

ii. He was also the League of Arab States Special Representative on the Syrian crisis.

iii. He was appointed as the peace-facilitator in Syria on 17 August 2012 to replace the former UN Secretary-General Kofi Annan.

iv. He was also a long-time Special Advisor to the UN Secretary-General and was the Head of the UN Assistance Mission in Afghanistan (UNAMA) from October 2001 to December 2004.

3.    Justice B S Chauhan appointed as the Chairman of CWDT

i. Justice BS Chauhan, the Judge of the Supreme Court of India on was appointed as the Chairman of the Cauvery Water Disputes Tribunal (CWDT). Justice Chauhan will succeed Justice NP Singh. 
ii. Justice Chauhan, who is due to retire on 1 July 2014, was appointed as the Chairman of the Tribunal on the recommendation of the former Chief Justice of India, Justice P Sathasivam.