CURRENT AFFAIRS

Detailed explanation-1: -New Delhi: ICICI Bank, India’s largest private sector bank by consolidated assets, today committed a financial assistance of Rs. 10 crore to the Indian Armed Forces .

Detailed explanation-2: -The Indian Army has signed historic MoU with 11 Banks viz State Bank of India, Punjab National Bank, Bank of Baroda, IDBI Bank, ICICI Bank, HDFC Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank, IDFC First Bank and Bandhan Bank for providing banking facilities to Agniveers on enrollment.

Detailed explanation-3: -The National Defence Fund was set up to take charge of voluntary donations in cash and kind received for promotion of the national defence effort, and to decide on their utilisation. The Fund is used for the welfare of the members of the Armed Forces (including Para Military Forces) and their dependents.

Detailed explanation-4: -Kendriya Sainik Board administratively controls AFFDF, which is utilised for providing financial assistance to needy Ex-Servicemen, War widows and their Dependents; and the Institutions involved in rehabilitation of the Ex-Servicemen, War widows and their Dependents.

Detailed explanation-5: -Members of the executive committee include the Prime Minister of India-as chairperson, Home Minister, Defence Minister and Finance Minister-Treasurer. Donations to the National Defence Fund are 100% tax exempt. Donations can be made through an online government portal also.