January-4

                                       

1.Justice Lodha panel submits report to SC for reforms in BCCI

• Justice R M Lodha panel, had recommended suspension of Chennai Super Kings and Rajasthan Royals due to their involvement 
• in illegal betting and spot-fixing, submitted its report by advocate Gopal Shankar Narayan to the Supreme Court registry.
•  It will be considered by the bench headed by Chief Justice T S Thakur.

2.“Jeevan Labh” initiated by LIC

Life Insurance Corporation of India (LIC) introduced a limited premium paying, non-linked with-profits Endowment Assurance plan “Jeevan Labh”.
What is Jeevan Labh plan?
Jeevan Labh is a limited premium paying endowment plan which means premium paying shall be less than the policy tenure
and policyholder’s nominee will receive the maturity benefit together with any other benefits at the end of the policy
term or on the death of the policy holder, whichever is earlier.

3.RBI imposes Rs 1 cr fine on State Bank of Travancore

RBI has imposed a penalty of Rs 1 crore on an SBI associate bank i.e. State Bank of Travancore violating some of its
instructions including report of data to Central Repository of Information on Large Credits (CRILC) which was set up by to
 collect, store, and disseminate data on all borrowers’ credit exposures.
?Banks are required to report all information including classification of an account as Special Mention Accounts( SMA),
on all borrowers having aggregate fund-based and non-fund-based exposure of Rs.5 crore and more than that.

Effect of penalty: Shares of State Bank of Travancore have fallen by 1.5% to quote at Rs.402 on the BSE after the RBI
slapped a penalty of Rs.1 crore on the bank for violation of some of its instructions.

Points to remember: State Bank of India
-Slogan: The Banker to Every Indian
-Headquarters: Mumbai
-Chairperson: Smt. Arundhati Bhattacharya

4.Padma Shri awardee VVS Laxman’s 281 awarded the Best Test Innings

Vangipurapu Venkata Sai Laxman’s (41) masterly innings of 281 against Australia at the Eden Gardens in Kolkata on 14 March
2001 has been voted the greatest Test performance of the last 50 years by a 25-member panel of cricketers, writers,
broadcasters, historians and statisticians assembled by the January issue of ESPN’s digital magazine the Cricket Monthly.