Current Affairs 30 August 2019

Finance Minister Nirmala Sitharaman announces mega public sector bank merger; 10 banks amalgamated into 4 entities

Finance Minister Nirmala Sitharaman on August 30 unveiled a mega merger plan for public sector banks (PSBs), amalgamating 10 banks into 4.

  1. Punjab National Bank, Oriental Bank of Commerce and United bank of India will be merged to form second largest public sector bank with business of around Rs 18 Lakhs crore. The anchor bank will be Punjab National Bank.
  2. Canara Bank and Syndicate Bank will be merged to form with business of around 15.20 Lakhs crore.
  3. Andhra Bank and Corporation Bank will be amalgamated to form wth business of 14.59 lakh crore.
  4. Indian Bank and Allahabad Bank will be merged amalgamated to form with business of 8.08 lakh crore.

Donald Trump Launches US Space Command In Counter To Russia, China Threats

US President Donald Trump announced the official establishment of the military’s Space Command, aimed at defending the country’s interests in space. The military hopes the new command will improve the defense of American interests in outer space. Space command aims to reorganize and improve U.S. space defenses and technologies, amid increasing aggression from Russia and China.