Quiz 4

                                Quiz 4

Q1. The International Boxing Association or AIBA has unanimously voted to induct the Boxing Federation of India (BFI) as one of its permanent members. Where is the headquarter of AIBA?
Answer: Lausanne, Switzerland

Q2. Minister of State for Development of North Eastern Region Dr Jitendra Singh has announced to provide 207 crore rupees for protection and development of the world heritage island Majuli located along river Brahmaputra in ......?
Answer: Assam

Q3. Name the country, which has comissions it's first 7-tonne civil helicopter recently?
Answer: China

Q4. A free instant messaging service for work and business environments, Flock has launched world’s first chat operating system”FlockOS”. Who is the present Chief Executive Officer (CEO) of Flock?
Answer: Bhavin Turakhia

Q5. In city the 09th World Confluence of Humanity, Power and Spirituality has been held? 
Answer: New Delhi

Q5. Smriti Mandhana is associated to which sport?
Answer: Cricket

Q6. Which country will host the fifth edition of the Global Conference on Cyber Space (GCSS) in 2017 in which over 100 countries are expected to participate?
Answer: India

Q7. Government has launched ---------- for Consumers and Digi-Dhan Vyapar Yojana for Merchants to promote digital transaction.
Answer: Lucky Grahak Yojana

Q8. Which state has rolled out 'Atal-Amrit Abhiyan' health insurance scheme which will provide coverage against several critical illnesses?
Answer: Assam

Q9. The foundation stone for India's first second generation ethanol bio-refinery to be set up by Hindustan Petroleum Corporation (HPCL) in which city?
Answer: Bathinda, Punjab

Q10. Name the British Pop superstar, who had passed away at the age of 53 from suspected heart failure recently?
Answer: George Michael

Q11. Name the country, which has won the the FIFA Team of the year 2016 title?
Answer: Argentina

Q12. Name the player, who has been awarded the best footballer of the year by All India Football Federation (AIFF)?
Answer: Jeje Lalpekhlua

Q13. Which country has announced to hold its first ever joint military exercise to begin a new level of bilateral military engagement with China recently? 
Answer: Nepal

Q14. Eminent modern Bengali poet ___________ has been chosen for the prestigious Jnanpith Award for 2016, the literary organisation has announced. 
Answer: Shankha Ghosh

Q15. Odisha Chief Minister _____________ has launched “Biju Sishu Surakshya Yojana” for care and protection of HIV-positive orphan children in the state. 
Answer: Naveen Patnaik

Daily GK Update 04th February, 2017

 Daily GK Update 04th February, 2017

04th February: The World Cancer Day 2017

i. A truly global event taking place every year on 4 February, World Cancer Day unites the world’s population in the fight against cancer. Taking place under the tagline ‘We can. I can.’, World Cancer Day 2016-2018 will explore how everyone – as a collective or as individuals – can do their part to reduce the global burden of cancer.

ii. It aims to save millions of preventable deaths each year by raising awareness and education about the disease, pressing governments and individuals across the world to take action. 

HDFC Bank increases cash transaction fees on savings a/cs

i. In a bid to discourage cash transactions, the country’s second-largest private sector lender HDFC Bank has decided to steeply increase the fees for savings account holders on a slew of activities involving cash. HDFC Bank has decided to steeply raise the charges on certain transactions, capping cash component in others and also introducing charges on certain transactions from 01st March 2017.

ii. The bank has capped the third-party transactions at Rs. 25,000 a day, reduced the number of free cash transactions at branches to four from five earlier and also raised the fee for non-free transactions by a steep 50 per cent to Rs.150.

Earlier, it used to allow Rs. 50,000 cash transactions, both withdrawals and deposits per day, the official said, adding the review is only for salary and savings accounts.

Rail Museum celebrates 40th anniversary

i. The National Rail Museum in New Delhi celebrated its 40th anniversary on 01st February 2017. The museum, which houses a large collection of life-size rail exhibits, allows visitors to take a tour on a toy train. Its attractions include the saloons of the Maharajas of Indore and Mysore and Fairy Queen, the oldest working steam locomotive still in operation.

Former CBI chief Joginder Singh passes away

i. Former CBI chief Joginder Singh, who oversaw investigation of several high-profile cases including Bofors scam and Bihar's fodder scam, has passed away at aged 77 years.

ii. Family sources said he breathed his last on 04th February 2017 after the prolonged illness.The 1961 batch IPS officer of Karnataka cadre was chosen to head the premier investigative agency when H D Deve Gowda was the Prime Minister.

IDFC MD Vikram Limaye the new CEO, MD of NSE

i. Leading stock exchange National Stock Exchange (NSE) on 03rd February 2017 has selected IDFC chief Vikram Limaye as its new CEO and Managing Director, two months after the sudden exit of Chitra Ramkrishna from the top post.

ii. NSE's board approved Limaye's name for the top position but a formal announcement would be made later as some formalities need to be completed from his side. The approval of the board, chaired by Ashok Chawla, comes after a four-member search panel suggested Limaye's name from amongst the shortlisted candidates.

Pankaj Advani pockets the National Snooker Championship title

i. Champion cueist Pankaj Advani has won the Indian National Snooker Championship with a 6-0 win over Pandurangaiah of Railways in a one-sided final on 03rd February 2017.

ii. Apart from clinching his 29th national title overall, Advani broke several other records. He became the only Indian men’s cueist to be the holder of all national billiards and snooker titles at the same time – Billiards, 6-red Snooker and 15-red Snooker. After marching into the finals of the snooker nationals with a 5-2 victory over Sundeep Gulati of New Delhi, Advani put on a flawless show of precision in the summit clash, leaving the spectators at the PYC Hindu Gymkhana mesmerised.

UIDAI clamps down on 50 fraud sites offering Aadhaar services

i. In a massive crackdown on unauthorised agencies offering Aadhaar-related services illegally and charging excessive money from the public, UIDAI has got shut down 12 such websites and 12 mobile apps available on the Google Playstore.

ii. The Unique Identification Authority of India (UIDAI) has further directed authorities for closure of another 26 such fraudulent and illegal websites and mobile applications. “Some websites and mobile apps were luring citizens to share their basic information and Aadhaar number under the pretext of getting them Aadhaar card or offering other Aadhaar related services. We have taken strict action against them,” UIDAI CEO Ajay Bhushan Pandey told.

BANK JOB NOTIFICATIONS

SBI Online – 2313 PO Posts

SBI Online – 2313 PO Posts: State Bank of India (SBI) has invited applications for the recruitment of 2313 Probationary Officer (PO) vacancies. Eligible candidates can apply online from 07-02-2017 to 06-03-2017. Other details like age limit, educational qualification, selection process & how to apply are given below…

SBI Vacancy Details: 
Total No. of Posts: 2313
Name of the Post: Probationary Officer
1. SC: 347 Posts
2. ST: 350 Posts
3. OBC: 606 Posts
4. GEN: 1010 Posts

Age Limit: Candidates age should be 21 – 30 years (must have been born not earlier than 02-04-1987 and not later than 01-04-1996) as on 01-04-2017. Upper age relaxation is applicable by 3 years for OBC, 10 years for PWD, 5 years for SC/ ST/ Ex-Servicemen & Others candidates as per rules.

Educational Qualification: Candidates should possess Graduation in any discipline from a recognised University or any equivalent qualification recognised as such by the Central Government.

Selection Process: Selection will be based on Preliminary Examination, Main Examination, Group Exercises, Interview.

Application Fee: Candidates should pay Rs.600/- for General and Others, Rs. 100/- for SC/ ST/ PWD candidates through online by using Internet Banking, Debit Cards (RuPay/ Visa/ Master Card/ Maestro), Credit Cards, IMPS, Cash Cards/ Mobile Wallets.

How to Apply: Eligible candidates may apply online through the website “www.sbi.com” from 07-02-2017 to 06-03-2017.

Instructions to Apply Online:
1. Before applying to Online Applicants have valid email & Scanned copies of photo, signature.
2. Candidates should log on to the website www.sbi.co.in.
3. Go to Careers — > Click on “Latest Announcement”.
4. Choose the desired post & Click on “Apply Online”.
5. Click on “Click here for New Registration”, if you are new user.
6. Complete the Registration & Click on “Submit”.
7. After Registration, Log in with Registered Number & Password.
8. Fill the all details in the application & upload Photo, Signature.
9. Application fee should be paid through Online & then Submit the Form.
8. Take printout of online application for future use.

Important Dates:

Start Date for Online Registration Including Edit/Modification of Applications	07-02-2017
Last Date for Online Registration Including Edit/Modification of Applications	06-03-2017
Date for Payment of Application Fees/ Intimation Charges	07-02-2017 to 06-03-2017
Date for Download of Call Letters for Online Preliminary Examination	15-04-2017 onwards
Date for Online Examination – Preliminary	29th & 30th Apr and 6th & 7th May’17
Date for Result of Online Exam – Preliminary	17-05-2017
Date for Download of Call Letter for Online Main Exam	22-05-2017 onwards
Date for Conduct of Online Examination – Main	04-06-2017
Date for Declaration of Result – Main	19-06-2017
Date for Download Call Letter for Interview	26-06-2017
Date for Conduct of Group Exercises & Interview	10-07-2017 onwards
Date for Declaration of Final Result	05-08-2017
Pre-Examination Training for SC/ST/Religious Minority Community Candidates
Date of Download of Call Letters for Pre-Exam Training	07-04-2017 onwards
Date of Conduct of Pre-Exam Training	17-04-2017 to 22-04-2017

For more details like exam syllabus, age relaxation, exam pattern & other information click on the link given below….

SBI Online	More Information
Notification Details	Get Details
Apply Online	Get Details
How to Apply	Get Details
FAQ	Get Details
Eligibility Details	Get Details
Selection Process	Get Details
Exam Pattern	Get Details
Exam Syllabus	Get Details

Read more: SBI Online Apply for 2317 PO, Sr Manager, Dean & Other Postshttp://ibps.sifyitest.com/sbiposjan17/

                 

Quiz 3

                                Quiz 3

Q1. Fiscal deficit in the first nine months of 2016-17 touched _________ of the Budget estimate. 

(a) 80.5%

(b) 68.1%

(c) 72.3%

(d) 84.8%

(e) 93.9%

Q2. Who has been appointed as the new Central Bureau of Investigation (CBI) Director?

(a) Niraj Kumar

(b) Alok Verma

(c) Ranjit Kumar Sinha

(d) BS Bassi

(e) None of the given options is true

Q3. The UN children's agency UNICEF has launched an appeal for USD _____________ to help 48 million children caught up in crises worldwide amid fears of a funding cut from top donor the United States. 

(a) USD 5.1 billion

(b) USD 10.7 billion

(c) USD 15.5 billion

(d) USD 3.3 billion

(e) None of the given options is true

Q4. In a major step, Finance Minister Arun Jaitley has announced the reduction of the existing rate of taxation for individuals with income ranging between Rs 2.5 lakh to Rs 5 lakh to _________ instead of 10%. 

(a) 6% 

(b) 7%

(c) 5%

(d) 8%

(e) 9%

Q5. Which among the following states have Winners of Excellence eGov awards, Instituted by the Computer Society of India’s (CSI) Special Interest Group with sponsorship from Nihilent Technologies?

(a) Rajasthan and Telangana

(b) Odisha and Nagaland

(c) Andhra Pradesh and Karnataka

(d) Kerala and West Bengal

(e) Maharashtra and Gujarat

Q6. How much surcharge for those whose annual income is Rs 50 lakh to Rs 1 crore, announced by Finance Minister Arun Jaitley in the Union Budget 2017-18?

(a) 5%

(b) 10%

(c) 15%

(d) 20%

(e) None of the given options is true

Q7. Name the Former Union Minister, who has been passed away due to a cardiac arrest recently.

(a) Ashfaq Karim 

(b) SM Krishna

(c) Veerappa Moily

(d) Mallikarjun Kharge

(e) E Ahamed

Q8. Finance Minister Arun Jaitley has pegged the total expenditure of budget 2017-18 at Rs ___________ lakh crore.

(a) Rs 21.47 lakh crore

(b) Rs 10.35 lakh crore

(c) Rs 55.47 lakh crore

(d) Rs 37.12 lakh crore

(e) None of the given options is true

Q9. In which among the following state, the Union Minister for Panchayati Raj and Rural Development, Narendra Singh Tomar has stated that the Ministry of Defence is set to open its Defence Unit recently?

(a) West Bengal

(b) Gujarat

(c) Madhya Pradesh

(d) Kerala

(e) Rajasthan

Q10. How much amount will allocate for Pradhan Mantri Gram Sadak Yojana (PMGSY) in union budget 2017-18?

(a) Rs. 15,000 crore

(b) Rs. 37,435 crore

(c) Rs. 55,000 crore

(d) Rs. 19,000 crore

(e) Rs. 64,000 crore

Q11. Which among the following countries has become the first country in the world to divest coal, oil and gas investments from Ireland Strategic Investment Fund?

(a) Ireland

(b) Denmark

(c) Norway

(d) Switzerland

(e) China

Q12. Start-up firm E-paathsala has launched an integrated accreditation and ERP technology solution for the colleges and universities to enable them better manage their multiple accreditation standards in an easy, efficient and fast manner and bridge the gap identified for specific accreditations. E-paathsala is based in-

(a) Hyderabad

(b) Bengaluru

(c) Chennai

(d) Kolkata

(e) New Delhi

Q13. Which among the following countries has introduced a legislation by making it mandatory to raise the minimum salary of the H-1B visa holders to more than double at USD 1,30,000 from the previous USD 60,000?

(a) Japan

(b) Canada

(c) USA

(d) France 

(e) Italy

Q14. NABARD has hailed the increased focus on irrigation and dairy sectors in the Budget which has hiked the corpus of long-term irrigation fund by another Rs 20,000 crore, taking the total fund size to how much amount?

(a) Rs 60,000 crore

(b) Rs 50,000 crore

(c) Rs 30,000 crore

(d) Rs 40,000 crore

(e) None of the given options is true

Q15. Name the Operation, which has been launched by Income Tax Department to verify the cash deposited in the banks during November 09th to December 30th, 2016?

(a) Operation Clean India

(b) Operation Clean Commerce

(c) Operation Clean Economy

(d) Operation Clean Cash

(e) Operation Clean Money

Solutions

S1. Ans.(e)
Sol. Fiscal deficit in the first nine months of 2016-17 touched 93.9 per cent of the Budget target against 87.9 per cent for the same period a year ago.

S2. Ans.(b)
Sol. Former Delhi Police Commissioner Alok Verma took charge as the new CBI Director. He will hold the charge of the premier investigating agency for a period of two years. A 1979-batch IPS officer, Mr Verma was selected by a three-member committee comprising Prime Minister Narendra Modi, Chief Justice J S?Khehar and Senior Congress leader Mallikarjun Kharge.

S3. Ans.(d)
Sol. The UN children's agency UNICEF has launched an appeal for USD 3.3 billion to help 48 million children caught up in crises worldwide amid fears of a funding cut from top donor the United States. 

S4. Ans.(c)
Sol. In a major step, Finance Minister Arun Jaitley has announced the reduction of the existing rate of taxation for individuals with income ranging between Rs 2.5 lakh to Rs 5 lakh to 5% instead of 10%.

S5. Ans.(a)
Sol. This year (2017), under the State category, Rajasthan and Telangana emerged Winners of Excellence while the Award of Recognition went to Odisha and Nagaland. Instituted by the Computer Society of India’s (CSI) Special Interest Group with sponsorship from Nihilent Technologies, these awards help recognise the efforts of eGovernance practitioners from across central and state departments, projects and in district administrative units as well.

S6. Ans.(b)
Sol. In a major step, Finance Minister Arun Jaitley has announced there will be a surcharge of 10% for those whose annual income is Rs 50 lakh to Rs 1 crore.

S7. Ans.(e)
Sol. Former Union Minister E Ahamed, who collapsed in parliament, has passed away. He was 78. Mr Ahamed was admitted at Delhi's Ram Manohar Lohia (RML) hospital after he suffered a cardiac arrest while both houses of parliament were being jointly addressed by President Pranab Mukherjee.

S8. Ans.(a)
Sol. Finance Minister Arun Jaitley has pegged the total expenditure of budget 2017-18 at Rs 21.47 lakh crore.

S9. Ans.(c)
Sol. The Union Minister for Panchayati Raj and Rural Development, Narendra Singh Tomar has stated that the Ministry of Defence is set to open its Defence Unit in Morena district of Madhya Pradesh. The unit would be set up in Kailaras and Sabalgarh tehsil areas and span over 969.735 hectare of land at a cost of Rs. 1500 crore.

S10. Ans.(d)
Sol. In the Union Budget 2017-18 Rs 19,000 crore Will allocate for Pradhan Mantri Gram Sadak Yojana (PMGSY).

S11. Ans.(a)
Sol. Ireland has become the first country in the world to divest coal, oil and gas investments from Ireland Strategic Investment Fund. The bill was passed in the Irish parliament by gaining 53 votes out of 90. It was introduced by Deputy Thomas Pringle.

S12. Ans.(b)
Sol. Bangaluru based Start-up firm E-paathsala has launched an integrated accreditation and ERP technology solution for the colleges and universities to enable them better manage their multiple accreditation standards in an easy, efficient and fast manner and bridge the gap identified for specific accreditations.

S13. Ans.(c)
Sol. The US House of Representatives has introduced a legislation by making it mandatory to raise the minimum salary of the H-1B visa holders to more than double at USD 1,30,000 from the previous USD 60,000. If the legislation is passed, it would highly impact American companies as they may face difficulty in replacing the American employees with foreign workers including IT professionals from India.The High-Skilled Integrity and Fairness Act of 2017 introduced by California Congressman Zoe Lofgren prioritises market based allocation of visas to those companies willing to pay 200% of a wage calculated by survey, eliminates the category of lowest pay, and raises the salary level at which H1B dependent employer are exempt from non displacement and recruitment attestation requirements to greater than $130,000.

S14. Ans.(d)
Sol. NABARD has hailed the increased focus on irrigation and dairy sectors in the Budget which has hiked the corpus of long term irrigation fund by another Rs 20,000 crore, taking the total fund size to Rs 40,000 crore. “The Budget focuses a lot on the rural and agriculture sector. Though the thrust on digital continues, reforms announced in the Budget will generate employment and help in doubling farmers income,” chairman, NABARD Harsh Kumar Bhanwala told PTI.

S15. Ans.(e)
Sol. Income Tax Department (ITD) has initiated Operation Clean Money. Initial phase of the operation involves e-verification of large cash deposits made during 09th November to 30th December 2016. Data analytics has been used for comparing the demonetisation data with information in ITD databases. In the first batch, around 18 lakh persons have been identified in whose case, cash transactions do not appear to be in line with the tax payer’s profile.

Daily GK Update 03rd February, 2017

Daily GK Update 03rd February, 2017

Rs 10,000 penalty for late filing of income tax returns

i. As with the presentation of the Union Budget 2017, Finance Minister Arun Jaitley has made it easier for the small tax-payers, the budget has however proposed a fee for delayed filing of income tax return. If the income tax return is furnished after the due date but on or before the December 31 of the assessment year, there will be a fine of Rs 5,000 imposed. In other cases, there will be an imposition of a fine of Rs 10,000.

ii. However, in a case where the total income does not exceed Rs 5 lakh, the Budget proposed that the fee amount shall not exceed Rs 1,000.

Sanjeev Sanyal appointed Principal Economic Adviser

i. Sanjeev Sanyal, former global strategist and Managing Director of Deutshe Bank, was today appointed as Principal Economic Adviser. The Appointments Committee of Cabinet has approved Sanyal’s appointment for three years on contract basis, an order issued by Personnel Minister said. Sanyal will work under the Department of Economic Affairs.

Lakshya Sen becomes World No.1 Junior Badminton player

i. India's Lakshya Sen has become the World No 1 Junior Badminton player. He achieved the distinction in the latest rankings of the Badminton World Federation (BWF). Fifteen-year-old is the first shuttler from Uttarakhand to attain the numero uno spot at the international level. 

ii. Lakshya, who is considered as the shining future star of Indian badminton, moved ahead of Chia Hao Lee of the Chinese Taipei, to attain the top spot. According to BWF current rankings, Lakshya has 16,903 points in eight tournaments he has played in the season. Chia Hao, who is at the second spot, has 16,091 points.

Apple to start manufacturing in India

i. Tech giant Apple has reached an agreement with the Karnataka government to set up a manufacturing plant in Bengaluru, Karnataka. "Apple’s decision on initial manufacturing in Bengaluru has further enhanced the reputation of Bengaluru as the most preferred destination for foreign investment," the Karnataka government said. Apple is reportedly expected to start production for the Indian market in April.

Tata Motors launches TAMO; to unveil first sportscar on March 7

i. As a core element of its transformation journey 'FutuReady', Tata Motors presented on 02nd February 2017 its new Passenger Vehicle strategy and introduced its new sub-brand - TAMO. 

ii. TAMO will act as an incubating centre of innovation towards new technologies, business models and partnerships in order to define future mobility solutions. The first product developed by TAMO will premiere at the upcoming 87th Geneva International Motor Show on March 7, 2017.

GDP growth likely at 7.1% in 2017-18: HSBC

i. India is expected to clock GDP growth of 7.1 per cent in 2017—18 as the country gets sufficiently remonetised and the schemes in the Budget play a supportive role, says an HSBC report.

ii. The uptick in the growth numbers would be largely driven by the remonetisation process, which is expected by April-end, as this in turn would boost the consumption levels in the country. HSBC expect GDP to grow at 7.1 per cent year-on-year in 2017-18, up from 6.3 percent in 2016-17, as the country gets sufficiently remonetised (by April-end), and consumption moves back to pre-demonetisation levels.

Budget 2017-18 allocation to WCD hiked by nearly 26 pc 

i. The Women and Child Development Ministry has received a nearly 26 per cent increase in budget allocation this year with the total money set aside climbing to Rs 22,095 crore from Rs 17,640 crore last year. 

ii. The amount budgeted for 'Indira Gandhi Matritva Sahyog Yojana' saw a four times jump with Rs 2,700 crore being set aside this year as compared to Rs 634 crore in 2016-17. As per this scheme Rs 6,000 will be provided for mothers who seek institutionalised delivery and vaccination. 

Sula Fest begins in Maharashtra

i. The tenth edition of Sula Fest has began on 03rd February at the Sula Vineyards in Nashik, Maharashtra. The line-up for the three-day festival, which will also feature professional wine tastings and grape stomping, includes artists Infected Mushroom and Nucleya. Tickets for Sula Fest, which is offering a camping stay facility, range from RS. 1500 to Rs. 4900.

India recorded highest domestic air passenger growth in 2016

i. Emerging as a stand-out performer, India witnessed the highest growth of 23.3 per cent in domestic air travel demand worldwide in 2016 twice that of neighbouring China, according to International Air Transport Association (IATA).

ii. The global airlines’ grouping has stated that domestic India market topped the growth chart for the second year in a row with passenger volumes surging twice as that of China. “Domestic air travel rose 5.7 per cent in 2016. Capacity rose 5.1 per cent and load factor was 82.2 per cent, up 0.5 percentage points over 2015.

Survival of India-Pakistan Indus water treaty appears ‘weak’: UN report

i. The 40-year-old Indus Waters Treaty between India and Pakistan has been an outstanding example of conflict resolution but scarcity of water in the basin states since the early 1990s has brought the agreement under strain and its “survival appears weak”, according to a UN report. “The treaty fails to address two issues: the division of shortages in dry years between India and Pakistan, when flows are almost half as compared to wet years, and the cumulative impact of storages on the flows of the River Chenab into Pakistan,” said the UNDP report titled ‘Development Advocate Pakistan’.

ii. Wular Barrage and Kishenganga project on the Jhelum and Neelum rivers present a similar problem whereby water storage during the Rabi season is critical as flows are almost one-fifth of the Kharif season, according the report, which was released on 01st February 2017.

World's most expensive saree was sold for Rs 40 lakh

i. The most expensive silk saree was made by Chennai Silks and was sold for around Rs.40 lakh in January 2008, according to Guinness World Records. The saree featured reproductions of 11 paintings by Indian artist Raja Ravi Varma and took about 4,760 man-hours to produce. The saree, studded with gold, diamond, emerald, and other precious stones, weighed around 8 kilograms. 

Sports Ministry budget hiked by Rs 350 crore

i.The Sports Ministry budget got a substantial hike of Rs 350 crore in the union budget for 2017-18, presented by Finance Minister Arun Jaitley in the Parliament. Jaitley allocated a total of Rs 1943 crore, compared to Rs 1592 crore earmarked last year.

ii. The steep increase in the budgetary allocation comes at a time when Indian athletes are preparing for the Commonwealth Games and Asian Games in 2018. The hike also comes in the wake of India’s dismal showing at the Rio Olympics where it won just two medals – a silver and bronze.

Read more: http://www.bankersadda.com/2017/02/current-affairs-daily-gk-update-03rd.html#ixzz4XmfhDIHR

రథసప్తమి శుభాకాంక్షలు

రథసప్తమి శుభాకాంక్షలు

Daily GK Update 02nd February , 2017

Daily GK Update 02nd February , 2017

Govt to launch TIES to fund export infrastructure

i. A new scheme will be introduced by Govt of India to create infrastructure for exports, a move aimed at reducing transaction costs for traders. A new and restructured central scheme with a focus on export infrastructure namely Trade Infrastructure for Export Scheme (TIES) will be launched in 2017-18.

ii. Indian exporters face huge challenges in terms of infrastructure, particularly in states.Inadequate infrastructure pushes their transactions costs, impacting competitiveness of Indian goods in the global markets.Exporters body Federation of Indian Export Organisations (FIEO) said the scheme will help create modern infrastructure like last mile connectivity to ports, testing labs and certification centres.

Agri credit raised to record Rs 10 lakh crore in Financial Year 2018

i. Finance Minister Arun Jaitley announced a whopping Rs 1 lakh crore hike in the credit target for the next financial year to Rs 10 lakh crore as part of the government's efforts to double farm incomes in the next five years.

ii. The target for agricultural credit in 2017-18 has been fixed at a record level of Rs 10 lakh crore, Jaitley stated in his Budget speech.The government provides short-term crop loans up to Rs 3 lakh at subsidised interest rate of 7% per annum.

 iii. An additional incentive of 3% is provided to farmers for prompt repayment of loans within due date, making an effective interest rate for them at 4%. The Finance Minister noted that the agriculture sector is expected to grow at 4.1% during the current financial year on good monsoon. Sowing of both kharif and rabi crops has been higher.

 iv. Jaitley said the allocation for new crop insurance scheme 'Pradhan Mantri Fasal Bima Yojana', which was launched in 2016, has been increased to Rs 13,240 crore this financial year from budgeted Rs 5,500 crore. The allocation for the next financial year has been earmarked at Rs 9,000 crore.

Govt to set up dairy development fund with corpus of Rs 8,000 cr

i.To augment income of farmers budget has proposed setting-up of a Dairy Processing and Infrastructure Development Fund with a corpus of Rs 8,000 crores over three years. 

ii.Dairy is an important source of additional income for the farmers. A Dairy Processing and Infrastructure Development Fund would be set-up in NABARD with a corpus of Rs 8,000 crores over 3 years stated Finance Minister Arun Jaitley during his budget speech, 2017.

Rs. 10,000 cr allocated for PSB recapitalisation

i.The Union Budget has allocated Rs. 10,000 crore towards recapitalisation of public sector banks in FY2017-18. 

ii.Under Indradhanush roadmap announced in 2015, the government stated to infuse Rs. 70,000 crore in state banks over four years while they will have to raise a further Rs. 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, known as Basel III. 

iii.In line with the blueprint, public sector banks has been given Rs. 25,000 crore in each fiscal, 2015-16 and 2016-17. Besides, Rs. 10,000 crore each would be infused in 2017-18 and 2018-19.

Govt proposes Payments Regulatory Board in RBI

i. Finance Minister Arun Jaitley has proposed creation of a six-member Payments Regulatory Board in the RBI, headed by RBI Governor Urjit Patel as part of bringing about structural reforms in the payment eco-system.

 ii. For the purpose, necessary amendments are proposed in the Finance Bill 2017 to create a Payments Regulatory Board in the Reserve Bank of India by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems.

iii.In his Budget Speech, Jaitley stated a Committee on Digital Payments constituted by Department of Economic Affairs has recommended structural reforms in the payment eco system, including amendments to the Payment and Settlement Systems Act, 2007.

Air India to get Rs. 1,800 cr from govt in 2017-2018

i. National carrier Air India will receive Rs 1,800 crore as equity infusion in 2017-18 under the government’s ongoing financial assistance and the amount is slightly higher than the allocation for 2016-2017. 

ii. The allocation has been made in the Union Budget for 2017-18, which was presented by Finance Minister Arun Jaitley.For 2016-17, the government had allocated Rs 1,713 crore to the airline against a demand of Rs 3,911 crore.The government-owned airline has been allocated Rs 1,800 crore as part of the Rs 30,0231 crore financial bailout package.

Budget 2017 pushes Nifty above 8,700 for 1st time since October 25, 2016

i. Finance Minister Arun Jaitley announced in his Budget 2017 speech with Nifty50 reclaiming its crucial 8,700 mark for the first time since October 25, 2016, while S&P BSE Sensex ended comfortably above its key 28,000 level. 

ii. To the relief of investors, Jaitley made no reference to long-term capital gains tax on equities and also set a comfortable fiscal deficit target of 3.2% for the fiscal year 2017-18. The Sensex closed the day at 28,141 up 486 points while Nifty50 settled at 8,716 up 155 points. 

Arun jaitley unveils education reforms, to set up National Testing Agency

i. Finance Minister Arun Jaitley unleashed measures to revamp the country's education system, including setting up of a National Testing Agency to conduct all entrance examinations for higher education institutions.

ii. Unveiling the budgetary proposals for 2017-18 in Parliament, Jaitley stated that government proposes to establish a National Testing Agency as an autonomous and self-sustained premier testing organisation to conduct all entrance examinations for higher education institutions.

iii.This would free CBSE, AICTE and other premier institutions from these administrative responsibilities so that they can focus more on academics.The government proposes to leverage information technology and launch the SWAYAM platform with at least 350 online courses.

Surajkund International Crafts Mela Kicked off in Faridabad, 20 countries to participate

i. The 31st edition of Surajkund International Crafts Mela started with amid tight security.To be inaugurated by Haryana chief minister Manohar Lal Khattar, the carnival is a 15-day affair in faridabad, Haryana. 

ii. Over 20 countries are participating in the event with Egypt as a partner country this year, 2017 and Jharkhand as the theme state. Every year, one country becomes the partner country ands an Indian state is selected to set the theme of the mela.

British PM Theresa May receives UK Parliament's approval to begin Brexit process

i.UK Prime Minister Theresa May has received Parliament's first stage approval to begin the process of Britain's exit from the European Union (EU) after winning a crucial vote in the House of Commons last night. 

ii. British MPs voted in favour of the European Union (Notification of Withdrawal) Bill.498 MPs voted in favour of Brexit Bill, while 114 voted against it. 

Researchers Discover Oldest Human Ancestor

i. Researchers have discovered microscopic sea animal Saccorhytus, the earliest known ancestor of humans along with a vast range of other species.

ii. The exquisitely well preserved fossilised traces of this 540-million-year-old creature were discovered. 

iii. This balloon-like sea is the earliest known step on the evolutionary path that led to fish and eventually to humans