Current Affairs: Daily GK Update 29th December 2017

Dear Readers,

Study Daily Current Affairs from Daily GK Update on Bankersadda and Adda247 app, and stay updated as well as prepare for General Awareness section of bank exams. It’s time to gear up your preparations for IBPS SO and Clerk and with the daily dose of current affairs, you can easily prepare G.A and score well.
1. Triple Talaq Bill Passed in Lok Sabha

i. The Lok Sabha passed the Muslim Women (Protection of Rights on Marriages) Bill 2017 making instant triple talaq illegal with up to three years in jail for the husband. The bill was passed by the Minister for Law and Justice Ravi Shankar Prasad.
ii. The bill will now be sent to the Rajya Sabha for passage before it is forwarded to the President for signing it into law.
Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • The Muslim Women (Protection of Rights on Marriages) Bill 2017 bill seeks to make instant triple talaq in any form spoken, in writing or by electronic means such as email, SMS and WhatsApp as bad or illegal and void.

2. India Signs Loan Agreement with World Bank for UP Tourism Project
i. An agreement for IBRD Credit of USD 40 Million from World Bank for “U.P. Pro-Poor Tourism Development Project” was signed between India and the World Bank.

ii. The programme duration is 5 years. The Project Objective is to increase tourism-related benefits for local communities in targeted destinations. The major districts under attractions in Uttar Pradesh are Agra, Mathura, Vrindavan, Barsana and Govardhan in the Braj region.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • IBRD- International Bank for Reconstruction and Development.
  • World Bank President- Jim Yong Kim (12th), Headquarters- Washington DC, USA.

3. Small Savings Schemes’ Interest Rates Cut by 20 bps
i. The government slashed interest rates on small savings schemes, including National Savings Certificate (NSC) and  Public Provident Fund (PPF), by 0.2 percentage point for the January-March period from the rates applicable in the previous quarter. This will prompt banks to lower deposit rates.

ii. As per the finance ministry notification, rates have been reduced across the board for schemes such as National Savings Certificate (NSC), Sukanya Samriddhi Account, Kisan Vikas Patra (KVP) and Public Provident Fund (PPF). However, interest on savings deposits has been retained at 4 percent annually.
Here is the complete list of schemes with Annual rate of interest-

S. No. Instrument Annual Rate of Interest
(in %)
1. National Savings Certificate (NSC) 7.6
2. Sukanya Samriddhi Account 8.1
3. Kisan Vikas Patra (KVP) 7.3
4. Public Provident Fund (PPF) 7.6
5. Senior Citizens Savings Scheme 8.3
6. Savings Deposit 4
7. 5 Years Recurring Deposit 6.9

4. Bank of Baroda Enters into MoU with POORTI Agri Services Pvt. Ltd
i. Bank of Baroda has entered into MoU with POORTI Agri Services Pvt. Ltd to enable the farmers to purchase agricultural inputs such as fertilizers, pesticides, seeds etc. provided by POORTI.
ii. This is a Platform for Online Ordering & Rural Transformation of India known as “POORTI”.
Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Bank of Baroda Chairman- Ravi Venkatesan, Managing Director & CEO- P.S.Jayakumar.

5. India Ranks 5th in List of Countries with Highest NPA Levels
i. India has the highest level of non-performing assets (NPA) among BRICS countries and is ranked fifth on a list of countries with the highest levels of NPAs, as per the report by CARE Ratings.

ii. The only countries ranked higher than India on the list are Greece, Italy, Portugal, and Ireland. All these countries, along with Spain, are commonly referred to as PIIGS and have been victims of sovereign debt crises in recent years.
iii. At 9.85 percent, India’s NPA ratio is over 400 basis points higher. Spain is the only PIIGS country ranked lower than India on the list, with an NPA ratio of 5.28 percent.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • PIIGS includes Portugal, Italy, Ireland, Greece, and Spain.

6. Indo-Maldives Joint Exercise ‘Ekuverin’ Concludes
i. The two-week long eighth edition of the Indo-Maldives joint military exercise, ‘Ekuverin’, came to an end at Belagavi, Karnataka. ‘Ekuverin’ means ‘friends’ in the Maldivian language.

ii. The bilateral annual exercise was joint military training between the Indian Army and the Maldives National Defence Force (MNDF). The exercise has been held alternatively in India and Maldives since 2009.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Chief of Indian Army Staff- Bipin Rawat.
  • Maldives Capital- Male, Currency- Maldivian rufiyaa.

7. Prince Harry Named President of African Conservation Group
i. Prince Harry has been named the president of African Parks, a conservation group that manages a dozen wildlife areas across the continent.

ii. As per the environmentalist organisation, Prince Harry will contribute to its effort to protect Africa’s natural heritage and support both wildlife and communities.

8. SEBI Caps Cross-Shareholding in Rating Agencies at 10%
i. Markets regulator SEBI stated that cross-holding in credit rating agencies (CRAs) will be capped at  10 percent and also decided to raise the minimum net worth requirement to Rs 25 crore from the current Rs 5 crore.

ii. Also, the board of SEBI has approved a slew of measures for tightening the financial and operational eligibility of the promoters of CRAs, besides greater disclosure requirements for them.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • SEBI- Securities and Exchange Board of India.
  • SEBI Chairman- Ajay Tyagi, Headquarters- Mumbai.

9. Pluto Exchange Launches India’s First Bitcoin Trading App

i. Cryptocurrency dealer ‘Pluto Exchange’ announced the launch of India’s first mobile application for transacting in virtual currencies.
ii. The Pluto Exchange mobile app offers a solution to the coordination problem between payment processors, financial gateways and banks.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Pluto Exchange founder and Chief Executive- Bharat Verma.

10. Viswanathan Anand Wins World Rapid Chess Championship
i. India’s ace chess player Viswanathan Anand won the World Rapid Chess tournament title in Saudi Arabia by beating Russia’s Vladimir Fedoseev 2-0 in a two-game tie-break.
ii. Saudi Arabia hosted the world chess tournament for the first time. The women’s title was won by China’s Ju Wenjun. Dronavalli Harika was the best-placed Indian, finishing 19th.
Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Crown Prince of Saudi Arabia- Mohammed bin Salman.
  • Saudi Arabia Capital- Riyadh, Currency- Saudi riyal.

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