English Vocabulary from
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Daily Current Affairs of 1st January 2017
International Current Affairs
- Today (1st January 2017) is 50th World Day of Peace.
- This is a feast day of the Roman Catholic Church dedicated to universal peace.
- This day was first observed on 1 January 1968.
- Theme of World Day of Peace 2017 : ‘Nonviolence: a Style of Politics for Peace’
- Important Note : Don't be confused between this day and International Day of Peace. The International Day of Peace is observed annually on 21 September.
National Current Affairs
- Highlights of PM Narendra Modi's Address to the Nation on 31st December 2106
- Modi announced a new housing loan scheme, under which poor and middle-class citizens will get a 4% exemption on interest on loans up to ₹9 lakh.
- Modi said the government will waive off 3% interest on loans up to ₹2 lakh taken for construction, repair, and renovation of houses in rural areas.
- Poor and middle-class citizens will get a 4% interest waiver on loans up to ₹9 lakh, and a 3% exemption on loans below ₹12 lakh, PM Modi added.
- He declared an increase in the credit guarantee for the Micro Small and Medium Enterprises (MSMEs) to ₹2 crore from the previous limit of ₹1 crore.
- He also announced that all banks have been asked to raise the cash credit limit for small businesses to 25% from 20%.
- PM announced that all senior citizens will get an assured interest of 8% for 10 years on fixed deposits up to ₹7.5 lakh. The amount earned in interest can be withdrawn on monthly basis, Modi added.
- In his New Year's eve address, Modi also launched two housing schemes, eased credit for farmers, among other benefits.
- He announced that three crore 'Kisan Credit Cards' will be converted into RuPay cards within the next three days.
- The government will pay 60 days' interest on select farmer loans.
- Further, PM asked banks to focus on poor and middle-class citizens to plan future programmes from the money that has come to them.
- Modi announced an assistance of ₹6,000 for pregnant women for vaccination and other medical uses.
- This scheme would be implemented in 650 districts across the country in an effort to reduce child and woman mortality.
- Further, the assistance will be transferred directly to the beneficiaries' account, he added.
- Modi also said that the government will pay the interest for 60 days on loans taken by farmers from district cooperatives, central banks, and primary societies for the Kharif and Rabi crops.
- Addressing the nation on New Year's eve, PM Modi said over the next three days, three crore 'Kisan credit cards' will be converted to RuPay cards.
- Sikkim has become the first state in India to go fully organic. Around 75,000 hectares of agricultural land were gradually converted to certified organic land in accordance with guidelines laid down in National Programme for Organic Production.
- Sikkim was also accorded the status of the cleanest state in India by the National Sample Survey Office in September.
New Appointments
- Air Marshal C Harikumar took over as Air Officer Commanding in Chief, Western Air Command.
- Justice Mian Saqib Nisar today took oath as the 25th Chief Justice of Pakistan.
- He has replaced Justice Anwar Zaheer Jamali who retired after serving as Chief Justice for 15 months.
- An entrepreneur of Indian origin, Sheikh Rafik Mohammed, has assumed a top position in the defence department of Kyrgyzstan.
- Rafik, who also holds Kyrgyzstan nationality, had worked as an adviser to former Kyrgyz President Kurmanbek Saliyevich Bakiyev.
- Rafik belongs to Kerala and has earlier worked in Iran, Saudi Arabia and Kyrgyzstan.
Banking & Economic Affairs
- A day after Prime Minister Narendra Modi asked banks to priorities lending towards poor and lower middle class, country’s largest lender State Bank of India (SBI) today cut benchmark interest rate across various maturities by 0.9 per cent, effective from January 1, a move that is expected to be shortly followed by other banks.
- 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 tenur.
- Newly launched mobile payments app BHIM (Bharat Interface for Money) has reached the top of the charts of Google Play Store.
- Named after Dr Bhimrao Ambedkar, the application is currently compatible only with Android phones.
- The app has a maximum limit of ₹10,000 for a single transaction and a ₹20,000 cap for transactions within 24 hours.
- Current Cash Deposit and Withdrawal rules :
- The Reserve Bank of India has set the cash withdrawal limit from ATMs at ₹4,500 daily and ₹24,000 weekly.
- Old ₹500 and ₹1,000 notes are no longer legal tender and can be deposited or exchanged only at RBI offices till March 31, 2017.
- Post this period, a minimum ₹10,000 fine will be collected on possession of over 10 old notes.
Deaths
- Important Celebrities who passed away in 2016
- Fidel Castro (Cuban revolutionary)
- Muhammad Ali (Boxing legend)
- Jayalalithaa (Chief Minister of Tamil Nadu)
- Alan Rickman (British actor, who played Professor Snape in the Harry Potter series)
- Carrie Fisher (Princess Leia in the Star Wars franchise)
Sports Current Affairs
- Indian tennis player Somdev Devvarman announced his retirement from professional tennis today.
- The 31-year-old won a gold medal for India at the 2010 Commonwealth Games in New Delhi, following which he was felicitated with the Arjuna Award in 2011.
- Devvarman reached a career-best ATP singles ranking of 62 in 2011.
- Former Australian captain Ricky Ponting has been appointed as an assistant coach to the Australian T20I squad for next month’s series against Sri Lanka.
- Ponting will work alongside the interim head coach Justin Langer and interim assistant coach Jason Gillespie during the three T20 internationals against Sri Lanka.
This is the end of today's Daily Current Affairs session friends. Good Day :)
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