1 Jan 2017

Daily Current Affairs Updates–1st January 2017

Daily Current Affairs Updates–1st January 2017:
Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.



NATIONAL:
Senior citizens to get 8% interest on deposits up to Rs.7.5L

i) Prime Minister NarendraModi on Saturday announced that all senior citizens will get an assured interest of 8% for 10 years on fixed deposits up to Rs.7.5 lakh.
ii) The amount earned in interest can be withdrawn on monthly basis, Modi added.
ii) In his New Year's eve address, Modi also launched two housing schemes, eased credit for farmers, among other benefits.
Credit guarantee for MSMEs doubled to Rs.2 crore: PM Modi

i) Prime Minister NarendraModi on Saturday declared an increase in the credit guarantee for the Micro Small and Medium Enterprises (MSMEs) to Rs.2 crore from the previous limit of Rs.1 crore.
ii) He also announced that all banks have been asked to raise the cash credit limit for small businesses to 25% from 20%.

Patanjali 2016's biggest disruptive force in FMCG: Assocham

i) The FMCG venture promoted by yoga guru Baba Ramdev, PatanjaliAyurved was the biggest disruptive force in country's fast moving consumer goods (FMCG) market in 2016, according to an Assocham report.
ii) Patanjali witnessed an annual growth of 146% grossing a $769 million turnover, whereas its rivals like ITC, Dabur, Hindustan Unilever struggled to get a double-digit growth, the report added.
INTERNATIONAL:
Bill Gates invests $140 mn to make a device to prevent HIV

i) The Bill and Melinda Gates Foundation has announced an investment of $140 million in Intarcia Therapeutics, a US pharma company developing a device that could help prevent HIV infections.
ii) The company makes matchstick-size devices that are implanted under a person's skin to continuously release preventive drugs. One device can hold up to a year's supply of medicine.
BANKING NEWS:
SBI cuts lending rate by 90 bps

i) A day after Prime Minister NarendraModi asked banks to priorities lending towards poor and lower middle class, country's largest lender SBI today cut benchmark interest rate across various maturities by 0.9 per cent.
ii) In a statement, the bank has reduced marginal cost of funds based lending rate (MCLR) by 0.9 per cent from 8.90 per cent to 8 per cent for 1-year tenure.
RBI extends period of enhanced Prepaid Payment Instruments limit

i) 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.
ii) RBI said in a notification today that keeping in view that Bank is undertaking a comprehensive review of the guidelines and framework for PPI issuance in the country, it has been decided to extend the measures till the completion of review of the PPI guidelines.
BUSINESS AND ECONOMY NEWS:
Jan Dhan account deposits doubled to Rs.87,000cr post note ban

i) Jan Dhan account deposits have more than doubled to Rs.87,000 crore till December 23, prompting tax department to "dissect" information relating to them, a senior official said.
ii) Inflow of funds into these accounts was highest in the first week post demonetisation. If it's found that money in these accounts belongs to other persons, necessary action will be taken, he added.
APPOINTMENTS:
Indian-origin entrepreneur gets Kyrgyzstan's top army post

i) An entrepreneur of Indian origin, Sheikh Rafik Mohammed, has assumed a top position in the defence department of Kyrgyzstan, as per a media report.
ii) Rafik, who also holds Kyrgyzstan nationality, had worked as an adviser to former Kyrgyz President KurmanbekSaliyevichBakiyev.
iii) Rafik belongs to Kerala and has earlier worked in Iran, Saudi Arabia and Kyrgyzstan, his media adviser said.
Akhilesh appoints NareshUttam UP SP Prez, replaces Shivpal

i) UP CM AkhileshYadav appointed MLC NareshUttam Patel Samajwadi Party’s UP President — the post held by his uncleShivpal Singh Yadav until now.
ii) Meanwhile, Akhilesh's supporters created chaos at the party office in Lucknow and removed Shivpal's nameplate from there.
iii) The development came after Mulayam Singh Yadav nullified the decision of making Akhilesh party’s National President.




   




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