Current Affairs 31st December 2016 | General Awareness 31st December 2016

Payment through biometric finger print to start in 2 weeks: PM

To promote less-cash economy.

Prime Minister Narendra Modi today said, payment through use of biometric finger print will start in India in two weeks time and asked citizens to do at least 5 digital transactions daily from January 1 to promote less-cash economy.

Mobile App

BHIM (Bharat Interface for Money)

SP Chief Mulayam Singh Yadav issues show cause notice to CM Akhilesh

Father to take action on son

In Uttar Pradesh, Samajwadi Party chief Mulayam Singh Yadav has issued show cause notice to his son and Chief Minister Akhilesh Yadav asking him why action should not be taken against him for indiscipline.

Mulayam Singh Yadav

Samajwadi Party chief

Demonetisation: Deadline to deposit old notes in banks ends today

 

Deadline comes to end

The 50-day deadline to deposit the old 500 and 1,000 rupee notes in banks came to an end today, however, people, will still have time to exchange the currency notes at designated RBI counters till 31st of March by giving valid reasons for not depositing defunct notes in their accounts by today.

31st March

Exchange of notes in RBI counters.

China blocks proposal at UN to list Azhar as terrorist;

India expresses concern

India has expressed concern over China today finally blocking a proposal at United Nations to list Masood Azhar as a designated terrorist. Earlier, China had twice imposed technical hold on the Indian proposal.

15-nation UN body

China was the only member in UN body to put a hold on India’s application.

Russia announces plans to expel 35 American diplomats

For an tit-for-tat response

Russia today announced plans to expel 35 American diplomats from the country in a tit-for-tat response to a similar move by Washington.

Barack Obama

Expelled 35 Russian suspected spies for hacking US data.

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Banking Awareness 31st December 2016 | Financial Affairs 31st December 2016.

RBI extends period of enhanced Prepaid Payment Instruments limit

limit of Rs 20,000 as part of efforts to promote digital payments.

  • Reserve Bank today extended the period of enhanced Prepaid Payment Instruments (PPI) limit of Rs 20,000 as part of efforts to promote digital payments.
  • It has been decided to extend the measures till the completion of review of the PPI guidelines.

Rs 50,000 per month

Merchants can transfer funds from such PPIs to their own linked bank accounts.

India, Singapore sign 3rd protocol for amending DTAA

For amending Double Taxation Avoidance Agreement (DTAA).

India and Singapore have signed the 3rd protocol for amending Double Taxation Avoidance Agreement (DTAA). Briefing reporters in New Delhi, Finance Minister Arun Jaitley said the revisiting of this treaty is important as it will help in government’s efforts to eliminate black money.

DTAA with countries

  • Mauritius
  • Cyprus

    RBI extends loan repayment window to 90 days

     

    Repayment of housing, car, farm and other loans

The Reserve Bank of India (RBI) has asked lenders to provide borrowers 90 days for repayment of housing, car, farm and other loans worth up to 1 crore rupees, saying that the dispensation will apply to dues payable between 1st November and 31st December.

Additional 60 days

For repayment of loans worth up to Rs 1 crore.

Sugar production touches 66 lakh tonnes so far during 2016-17

Expected to be about 22.5 million tonne

Sugar production has touched 66 Lakh tonnes so far during the 2016-17 marketing year. Food Ministry has said that the sugar production is expected to be about 22.5 million tonne by the end of the season.

25 million tonnes.

Estimations of sugar manufacturing for domestic requirements.

RBI’s new Deputy Governor Acharya to take charge on Jan 20

He has been appointed for a term of three years

Viral V Acharya will assume the charge as Deputy Governor of the Reserve Bank of India (RBI) from 20th of January, 2017. He has been appointed for a term of three years, with effect from 20th of January.

Roles and responsibilities

Mr. Acharya will look after the Monetary Policy and Research cluster.

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Banking Awareness 30th December 2016 | Financial Affairs 30th December 2016.

ONGC cleared GSPC deal without enough independent directors

Had only three IDs on 12-member board.

State-owned Oil and Natural Gas Corporation (ONGC) did not have enough independent directors on its board while approving the purchase of an 80 per cent interest in the Krishna Godavari basin oil block owned by Gujarat State Petroleum Corporation (GSPC) last week.

50%

Short of the regulatory requirement.

HUL(Hindustan Unilever) pads up to take on Ramdev’s Patanjali

HUL ups the ante with a fleet of new herbal products

Patanjali Ayurved, Baba Ramdev’s pet project to counter growing influence of the multinational corporates in the domestic consumer goods space, continues to bombard the market with new products, rivals are gearing up to throw a tough challenge to the challenger.

Rs 43,500 crore

Herbal-natural product market in India .

Tough 2016 for IT, tougher year ahead

Struggles to cope with digital switch, pricing pressures.

The information technology (IT) sector had to reduce growth numbers for only the second time in a decade, the first being after a US recession triggered by the Lehman Brothers collapse.

Major challenges

  • Brexit
  • US elec- President
  • Digitalization in India.

    Airtel Payments Bank to charge 0.65% cash withdrawal fee

    The bank is offering interest rate of 7.25 per cent per annum

Airtel Payments Bank will charge 0.65 per cent fee on cash withdrawals but will not levy any processing charge on digital transactions from January 2017 to encourage cashless payments.

7.25 % per annum

The bank is offering interest rate on savings accounts.

Alibaba to soon open its first India office

Kotak Mahindra Bank, IDFC and Aditya Birla Finance are the partners.

Alibaba, largest e-commerce entity in China, is setting up its first India office in Mumbai, apparently an indication that it would step up investment in the country in the coming year, to capture a pie of the growing e-commerce market here.

Office

Bandra-Kurla Complex (BKC) in Mumbai.

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Current Affairs 30th December 2016 | General Awareness 30th December 2016

AIADMK names VK Sasikala as its new General Secretary.

A unanimous resolution has been passed in the General Body meeting

In Tamil Nadu, the ruling AIADMK has named VK Sasikala as its new General Secretary in place of the late J. Jayalalithaa. A unanimous resolution to this effect has been passed in the party General Body meeting held in Chennai

O. Panneerselvam

Present CM of TamilNadu.

Row within Samajwadi Party escalates on distribution of party tickets

Party President Mulayam Singh to attend a separate meeting in Lucknow.

In Uttar Pradesh, several ministers, MLAs and party leaders have reached the official residence of Chief Minister Akhilesh Yadav who has convened a meeting to ponder over the situation after his candidates were sidelined in the list issued by Mulayam Singh Yadav

Akhilesh Yadav

Chief Minister of Uttar Pradesh.

Enforcement Directorate arrests Delhi lawyer Rohit Tandon

Seizure of 13.6 crore rupees as part of the operation.

The Enforcement Directorate arrested controversial delhi lawyer Rohit Tandon in a case of seizure of 13.6 crore rupees after police raided a law firm premises as part of an anti-black money operation post demonetization.

Rohit Tandon

He declared undisclosed income worth over 125 crore rupees to the taxman.

Government launches Swachh Swasth Sarvatra initiative

Aimed at strengthening community health centres .

Government launched Swachh Swasth Sarvatra initiative, aiming at strengthening health centres in open defecation-free blocks.

Launching this initiative in New Delhi, Health Minister J P Nadda said, the objective of this initiative is to strengthen community health centres in 708 Open Defecation free blocks across the country to enable them to achieve higher levels of cleanliness and hygiene

Swachh Swasth Sarvatra

Twin objectives of constructing toilets and enabling behavioural change.

Top Islamic State military commander Abu Jandal al-Kuwaiti killed.

In a coalition air strike in Syria.

A senior US defense official has confirmed that a top Islamic State military commander Abu Jandal al-Kuwaiti has been killed by a coalition airstrike in Syria near Tabqa Dam.

Abu Jandal al-Kuwaiti

He was a key leader of the group in Raqqa.

Over 366 lakh farmers covered under crop insurance scheme.

 

Covered under Pradhan Mantri Fasal Bima Yojana

Agriculture Minister Radha Mohan Singh said over 366 lakh farmers have been covered under Pradhan Mantri Fasal Bima Yojana during the Kharif season this year.

21

No of states that crop insurance scheme is initiated.

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RBI Assistant Prelims 2016 Scorecard Released

RBI Assistant Result 2016 will be declared by Reserve Bank of India. RBI has issued a notification for recruitment of RBI Assistant 2016 for filling up the 610 posts. Reserve Bank of India (RBI) publishes results after each stage. RBI Assistant Result 2016 can be viewed after Preliminary, Main exam, and interview.

To Click Below Direct Link to check Results on PDF:

To Check Result- Here

Banking Awareness 29th December 2016 | Financial Affairs 29th December 2016

Rupee weakens by 15 paise to 68.21 against dollar

Rupee weakened by another 15 paise

Rupee weakened by another 15 paise to 68.21 against the dollar in early trade at the Interbank Foreign Exchange market on increased month-end demand for the US currency from importers amid sustained foreign fund outflows.

Benchmark

It is composed of 30 largest and most actively-traded stocks on the BSE.

No tax imposed on farm produce till BJP govt in power

Tax under the name of agricultural earning will not spared.

Union Agriculture minister Radha Mohan Singh said, there will be no tax imposed on farm produce till BJP led government is in power, but the people who save tax under the name of agricultural earning will not spared.

Water projects

22 projects of the total 100 projects are situated in Maharashtra.

RuPay card usage at PoS terminals surges 7 times after demonetization.

Demonetisation has boosted the digital platforms for payment.

Demonetisation has boosted the digital platforms for payment. The National Payments Corporation’s RuPay card usage at merchant terminals has surged seven times since 8th of November, taking the daily volumes to over 2.1 million.

Daily transaction

5 million transactions through RuPay cards.

Black money holders to bear taxes,

Penalties amounting to over 137% post raids

Black money holders will have to bear taxes and penalties amounting to over 137 per cent if they do not admit to or fail to explain the source of undisclosed income after being raided.

107.25 % fine

Undisclosed income is admitted during search operations.

Jaitley takes stock of demonetisation drive with bankers

Meeting in New Delhi with Indian Banks’ Association

Finance Minister Arun Jaitley took stock of the demonetisation drive at a meeting in New Delhi with Indian Banks’ Association Chief and heads of key banks including State Bank of India and Punjab National Bank.

30th December

last date to deposit old 500 and 1,000 rupee notes.

Government removes minimum export price on potato

Minimum Export Price (MEP) on potato.

The government has removed the Minimum Export Price (MEP) on potato. Directorate General of Foreign Trade said in a notification that export of potatoes, fresh or chilled is permitted without any MEP.

MEP on potato

360 $ per tonne on potato.

Watch as interactive video 

 

Current Affairs 29th December 2016 | General Awareness 29th December 2016

Cabinet approves ordinance on demonetisation

Penalty for those holding banned notes.

The Cabinet has cleared promulgation of an ordinance to penalise persons holding banned 500 and 1,000 rupee notes. The penalty for holding old currency in excess of 10 notes may include financial fines and a jail term of up to 4 years in certain cases.

Old notes

Allowed only for the purpose of research and numismatics.

Chief Minister Sunderlal Patwa passes away

PM Modi pays homage to former MP

Former Madhya Pradesh Chief Minister and senior BJP leader Sunderlal Patwa passed away in Bhopal this morning. He was 92. Mr Patwa, who was also a member of the Atal Bihari Vajpayee government at the Centre, suffered a heart attack.

Positions

  • Union Cabinet Minister, Rural Development
  • Union Cabinet Minister, Chemicals and Fertilizers
  • Union Cabinet Minister, Mines

    Derailed Sealdah Ajmer Express in Kanpur safely evacuated;

     

     

    No deaths reported; 66 injured.

In Uttar Pradesh, 15 coaches of Sealdah-Ajmer Express derailed near Rura Railway station in Kanpur Dehat district. The accident occurred in early morning.

Akhilesh Yadav

Uttar Pradesh chief Minister.

EC asks states to prepare for announcement of poll schedule

Five poll bound states for poll schedule.

In a letter sent to the Cabinet Secretary and chief secretaries of the poll-bound states of Uttar Pradesh, Uttarakhand, Goa, Manipur and Punjab, the Commission has asked them to implement the model code of conduct as soon as the schedule is announced.

Five states

Uttar Pradesh, Uttarakhand, Goa, Manipur and Punjab.

Parrikar inaugurates Digi-Dhan Mela in Goa’s Panaji

Digi-Dhan Mela to implement cashless system

Defence Minister Manohar Parrikar has appealed for opting cashless payment mode by using various electronic transaction methods. He said that cashless transactions will help curb tax evasion, and will also bring accountability in the economy.

Laxmikant Parsekar

Goa Chief Minister.

CCEA clears Road Connectivity Project for Left Wing Extremism affected areas.

To improve rural road connectivity

  • The Cabinet Committee on Economic Affairs (CCEA) has approved a centrally-sponsored road connectivity project for Left Wing Extremism affected areas to improve rural road connectivity.
  • The project aims to provide connectivity with culverts and cross drainage structures in 44 worst left wing affected and adjoining districts.

Prime Minister Gram Sadak Yojana (PMGSY) ratio 90:10

Eight North Eastern states and Jammu and Kashmir, Himachal Pradesh and Uttarakhand.

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