Current Affairs Update – 7 April, 2017

Hello and welcome to exampundit. Here are the important Current Affairs of 7 April, 2017. These are important for the upcoming SBI PO mains, BOB Manipal 2017, NICL AO 2017 and NIACL Assistant 2017.

Current Affairs at a Glance – 7 April, 2017 – Tap to show
  1. The Reserve Bank of India (RBI) has raised the capital requirement for asset reconstruction companies (ARCs) to Rs 100
    crore
    , from the current Rs 2 crore, it has announced.
  2. Private Sector Lender. HDFC Bank Ltd., today announced the
    launch of its UPI on Chillr. With this launch, HDFC Bank UPI
    will be available on Chillr, in addition to the bank’s Mobile Banking app.
  3. India is the second-most preferred market (overweight) in the Asia
    (excluding Japan) region, an investor sentiment survey carried out by Credit
    Suisse shows. Chinese stocks listed in Hong Kong are the most-preferred, while
    those listed on the mainland are the third-most preferred, according to the
    survey. Meanwhile, Pakistan, Malaysia, and Australia were the least preferred
    markets (underweight). The survey was conducted during Credit Suisse’s 20th
    Asia investment conference held between March 27 and March 30.
  4. The tax department has given
    banks three more months till June 30 to obtain permanent account number (PAN) or Form-60 from all account holders
    as it looks to tighten the noose around evaders.
  5. Canara Bank, a public sector bank, has embarked upon an ambitious
    project of upgrading the bandwidth at all its branches to 2 Mbps in partnership
    with BSNL.
  6. South Indian Bank has entered into an agreement with Flyworld Money Exchange to facilitate
    remittances by Indian expatriates in Australia.
  7. Rajya Sabha on 6 April 2017
    passed all four supporting legislations
    of the Goods and Services Tax (GST) Bill 2017
    . The four bills were passed
    by the Rajya Sabha by a voice vote as all parties were on board.
  8. The Madhya Pradesh government is
    all set to launch Deendayal Antyodaya
    Rasoi Yojana in its districts on the evening of 7 April 2017
    . The scheme
    named after late political leader Deendayal
    Upadhyaya aims to provide food to
    the poor in urban areas at a subsidised rate.
  9. Israel on 7 April 2017 signed about
    USD two billion deal with India
    to supply advanced missile defence systems,
    bolstering bilateral military ties.
  10. The three-day National Children’s Film Festival (NCFF)
    was inaugurated by the Union Minister for Information and Broadcasting and
    Urban Development, M Venkaiah Naidu
    in Vishakhapatnam on 7 April 2017.
  11. The state cabinet of Maharashtra on 6 April 2017 approved
    drafting of Bill on the Journalists Protection Act, a law prohibiting attacks
    on journalists.
  12. World Health Day is being observed on 7 April 2017 with theme
    ‘Depression: Let’s Talk.
  13. The jury of the 64th National Film Awards was headed by director
    Priyadarshan.
    Sonam Kapoor’s critically acclaimed ‘Neerja’ was today
    awarded the Best Film at the 64th National Film Awards. Akshay Kumar won his
    first National Award for Best Actor for his role in ‘Rustom’.
  14. The National Basketball Association today announced the setting up of
    its first basketball school, a
    network of tuition-based basketball development programmes, in Mumbai.

Financial and Banking News –
RBI raises ARCs’ capital requirement to Rs 100 cr

  • The Reserve Bank of India (RBI)
    has raised the capital requirement for asset reconstruction companies (ARCs) to
    Rs 100 crore, from the current Rs 2 crore, it has announced.
  • This move was necessitated by the
    higher amount of cash required to buy bad loans from the current financial
    year, RBI said in note accompanying its first bi-monthly monetary policy
    statement of the current financial year presented here on Thursday.
  • The enhancement in capital
    requirements comes after new norms notified by the RBI in September last said
    if security receipts (SRs) make more than 50 per cent of the value of the asset
    under consideration, banks have to continue to provide for these loans as if
    the loans continue in the books of the bank.
  • These norms were aimed at forcing
    banks to sell more such non-performing assets (NPAs), or bad loans, at cash.
  • “In view of the enhanced
    role of ARCs and greater cash-based transactions, it is proposed to stipulate a
    minimum NOF (Net Owned Fund) of Rs 100 crore for ARCs. The necessary
    instructions will be issued by end-April, 2017,” the RBI said.

HDFC Bank launches its UPI on Chillr

  • Private Sector Lender. HDFC Bank
    Ltd., today announced the launch of its UPI on Chillr. With this launch, HDFC
    Bank UPI will be available on Chillr, in addition to the bank’s Mobile Banking
    app.
  • Launch of HDFC Bank UPI on Chillr
    will benefit customers of 44 banks that will now be able to conduct digital
    transactions seamlessly using the Chillr app. These transactions conducted on
    Chillr will go through HDFC Bank’s UPI platform.
  • Started as India’s first
    multi-bank payment app, Chillr has been running on IMPS with 11 banks prior to
    this launch and has achieved a milestone of monthly transaction value of over
    Rs. 500 crore. With HDFC Bank UPI on Chillr app, the start-up’s base will
    expand 3X as customers of over 33 more banks will be able to use it, in
    addition to existing 11 banks.

India second-most preferred Asian market: Survey

  • India is the second-most
    preferred market (overweight) in the Asia (excluding Japan) region, an investor
    sentiment survey carried out by Credit Suisse shows. Chinese stocks listed in
    Hong Kong are the most-preferred, while those listed on the mainland are the
    third-most preferred, according to the survey. Meanwhile, Pakistan, Malaysia,
    and Australia were the least preferred markets (underweight).
  • The survey was conducted during
    Credit Suisse’s 20th Asia investment conference held between March 27 and March
    30.
  • Participants choose Asia ex-Japan
    as the region that will provide the biggest upside for equity investors in
    2017, followed by Europe and US. Investors saw US trade policies as the biggest
    risk to the markets, followed by geopolitical risks.
  • More than half of those polled
    said the Asia Pacific index will go up more than 10 per cent in 2017, while a
    third expect the index to remain flat.
  • Overall, the investor sentiment
    was positive as most participants were in favour of a high-beta portfolio.

Banks get time till June 30 to obtain PAN from account holders

  • The tax department has given
    banks three more months till June 30 to obtain permanent account number (PAN)
    or Form-60 from all account holders as it looks to tighten the noose around
    evaders.
  • Though the deadline for getting
    the PAN or Form 60 (if PAN is not available) by banks ended on February 28, the
    tax department on April 5 notified the extension of the time till June 30.
  • In the notification, the Income
    Tax Department said that in Income-Tax Rules 114B, in the fourth proviso,
    “for the figures, letters and words ’28th day of February’ the figures,
    letters and words ’30th day of June’ shall be substituted.”
  • Rule 114B lists various
    transactions for which quoting PAN is mandatory.
  • The tax department had in January
    asked banks, post offices and cooperative banks to document PAN or declaration
    of Form 60 received from account holders and maintain all records for transactions
    under Rule 114B of I-T Act.

Canara Bank partners BSNL to upgrade bandwidth at all branches
  • Canara Bank, a public sector
    bank, has embarked upon an ambitious project of upgrading the bandwidth at all
    its branches to 2 Mbps in partnership with BSNL.
  • The project was officially
    inaugurated jointly by Dina Bandhu Mohapatra, Executive Director, Canara Bank,
    in the presence of P V Bharathi, Executive Director, Canara Bank and other top
    executives of the Bank and BSNL.
  • Speaking on the occasion Dina
    Bandhu Mohapatra, that said the bandwidth upgradation of branches is in line
    with the bank’s policy of promoting digital channels and shall be a game
    changer for ensuring faster service across the counters.
  • NK Mehta, Director, BSNL,
    reiterated the commitment of BSNL in providing seamless quality service to the
    Bank. While M G Ajayan, General Manager (IT) & CIO, Canara Bank, said the
    bandwidth upgradation activity shall be completed in three months.

South Indian Bank ties up with exchange house in Australia
  • South Indian Bank has entered
    into an agreement with Flyworld Money Exchange to facilitate remittances by Indian
    expatriates in Australia.
  • Through this tie-up, NRIs in
    Australia could enjoy quick and cost-effective remittances to India using the
    SIB Express facility. Using this facility, NRIs can now remit funds with ease
    to any commercial bank in India. SIB has a correspondent banking arrangement
    with National Australia Bank for remittances to India.
  • With this agreement, SIB marks
    the first remittance arrangement with an exchange house in Australia. The new
    facility will enable the bank to reach the Indian Diaspora in Australia more
    efficiently.
  • Customers as well as
    non-customers can utilise this facility through the Flyworld Money Exchange
    across Australia or use the online platform provided by the exchange house to
    make remittances to India, a release said.

Parliament clears decks for GST rollout from July 1

  • Rajya Sabha on 6 April 2017
    passed all four supporting legislations of the Goods and Services Tax (GST)
    Bill 2017. The four bills were passed by the Rajya Sabha by a voice vote as all
    parties were on board. 

The four legislations are
i. The Central Goods and Services
Tax Bill, 2017 (The CGST Bill)
ii. The Integrated Goods and
Services Tax Bill, 2017 (The IGST Bill)
iii. The Union Territory Goods
and Services Tax Bill, 2017 (The UTGST Bill)
iv. The Goods and Services Tax
(Compensation to the States) Bill, 2017 (The Compensation Bill)
  • The passage in the upper house of
    the Parliament has cleared the decks for the rollout of the historic GST Bill
    from 1 July 2017 and usher the one-nation-one-tax regime.
  • With this passage in Rajya Sabha,
    the Bill will be sent to President Pranab Mukherjee for the final nod. The
    bills will become the law after the President gives his assent to them. The
    Bill was earlier passed by the Lok Sabha on 29 March 2017.
  • Now, the States can pass the
    State GST Bill in their assemblies.

News related to India and states –
MP Govt to launch a Deendayal Antyodaya Rasoi Yojana to provide subsidised food to the poor

  • The Madhya Pradesh government is
    all set to launch Deendayal Antyodaya Rasoi Yojana in its districts on the
    evening of 7 April 2017.
  • The scheme named after late
    political leader Deendayal Upadhyaya aims to provide food to the poor in urban
    areas at a subsidised rate. It would be launched in 51 district headquarters
    across the state in the first phase.
  • The yojana will be inaugurated by
    the state’s Chief Minister Shivraj Singh Chouhan at Gwalior.
  • The scheme involves opening of
    canteens that will provide a full meal at Rs 5.
  • The meal would include four
    rotis, one sabzi, and dal.
  • The Thali would be made available
    from 11 am to 3 pm.
  • Aside from this, wheat and rice
    would also be made available at the canteens at Rs one each through fair price
    shops.
  • Local municipal bodies will
    ensure availability of water and electricity completely free of cost.
  • The funds required for the
    setting up of these centres would be provided under the Chief Minister’s Urban
    Infrastructure Scheme.
  • The arrangement is aimed to feed
    at least 2000 people at a time.

Defence deals over USD 2 billion signed between India and Israel

  • Israel on 7 April 2017 signed
    about USD two billion deal with India to supply advanced missile defence
    systems, bolstering bilateral military ties.
  • In a statement, the CEO of the
    state-owned Israel Aerospace Industries (IAI), Joseph Weiss said that, it will
    provide advanced medium-range surface-to-air missile systems (MRSAM) to the
    Indian Army.
  • In addition to this, he also said
    that it would also supply additional long-range air and missile defence systems
    (LRSAM) for the first locally produced Indian aircraft carrier.
  • The current contracts represent
    an enormous expression of confidence by the Government of India in IAI’s
    capabilities and advanced technologies, which are being developed with our
    local partners as part of the Indian Government’s Make in India’ policy’.
  • MRSAM’s current version is
    operational with the Indian Air Force, Indian Navy and Israel Defence Forces
    (IDF). The system includes an advanced phased-array radar, command and control,
    mobile launchers and missiles with advanced RF seekers.

Venkaiah Naidu inaugurates 3-day National Children’s Film Festival
  • The three-day National Children’s
    Film Festival (NCFF) was inaugurated by the Union Minister for Information and
    Broadcasting and Urban Development, M Venkaiah Naidu in Vishakhapatnam on 7
    April 2017.
  • The festival, termed as the
    largest film festival for children in the country, is being jointly organised
    by the Children’s Film Society, India (CFSI) and the state government of Andhra
    Pradesh. on 7 April 2017. on 7 April 2017.
  • The main aim of the festival is
    to expose the children to quality cinema and introduce them to elements beyond
    films.
  • It is the largest film festival
    for children in the country giving the audience quality and wholesome
    entertainment. The aim of the film festival is to expose children to quality
    cinema and to introduce novel elements beyond films.
  • The screening of the films will
    take place at the Visakhapatnam Urban Development Authority’s Cinema theatre.

UP government orders probe into alleged misuse of money in Gomati River
Front Development project
  • The Uttar Pradesh government led
    by Chief Minister Yogi Adityanath in first week of April 2017 set up a
    high-level judicial committee to probe the alleged misuse of money and work
    being carried out on Gomati River Front Development project.
  • An official spokesman said, the
    three-member committee will be headed by retired judge of Allahabad High Court,
    Alok Kumar Singh. The committee has been asked to file its report within 45
    days.
  • Task of the Alok Kumar Committee:
    The committee will probe several aspects, including delay in construction work,
    quality of work, significance of the project in view of environment
    conservation and irregularities in its implementation.
  • As per reports, Rs 1500 crore was
    allocated for the Gomati River Front Development project of which 90 per cent
    of has been spent, while only 60 per cent of work was completed.
  • The project came under scrutiny
    of CM Yogi after he visited the project site. He expressed dissatisfaction over
    the alleged misuse of funds and additional demand to complete the project.

Bill protecting journalists to be introduced in Maharashtra state
assembly
  • The state cabinet of Maharashtra
    on 6 April 2017 approved drafting of Bill on the Journalists Protection Act, a
    law prohibiting attacks on journalists.
  • The announcement was made by the
    state’s Chief Minister Devendra Fadnavis himself who confirmed the state
    government’s plan of introducing the bill in the ongoing session of the state
    legislature.
  • The bill will be tabled in both
    the houses of the state legislature on 7 April 2017. The day would also be the
    last day of the state’s ongoing budget session.
  • A government-prepared draft of
    the bill was circulated to the journalists and media houses for suggestions and
    objections at the end of 2016.
  • A final draft was created after
    the submission of the suggestions and objections.
  • The bill aims to make attacks on
    journalists a non-bailable offence.

Days –
World Health Day is being observed with theme Depression: Let’s Talk

  • World Health Day is being
    observed on 7 April 2017 with theme ‘Depression: Let’s Talk. On this occasion,
    the World Health Organization (WHO) is leading a one-year global campaign on
    depression which is the leading cause of ill-health and disability worldwide.
  • The goal of the campaign is that
    more people with depression, everywhere in the world, both seek and get help.
    Depression is the leading cause of ill-health and disability worldwide.
  • As per a report of WHO, more than
    300 million people are now living with depression, which is an increase of more
    than 18 per cent between 2005 and 2015. At worst, depression can lead to suicide,
    now the second leading cause of death among 15-29-year olds.

Awards & Honors –
64th National Film Awards announced

  • The jury of the 64th National
    Film Awards was headed by director Priyadarshan. Sonam Kapoor’s critically
    acclaimed ‘Neerja’ was today awarded the Best Film at the 64th National Film
    Awards. Akshay Kumar won his first National Award for Best Actor for his role
    in ‘Rustom’.

Here is the complete list of winners:
  1. Best Popular Film Providing
    Wholesome Entertainment – Sathamanam Bhavathi
  2. Best stunt choreography – Peter
    Hein (Pulimurugan)
  3. Best Children’s Film – Dhanak
    (Hindi)
  4. Best Film on social issue – Pink
  5. Best Direction – Rajesh
    (Ventilator)
  6. Best Actor – Akshay Kumar
    (Rustom)
  7. Best Actress – Surabhi Lakshmi
    (Minnaminungu)
  8. Best Supporting Actress – Zaira
    Wasim (Dangal)
  9. Best Hindi Movie: ‘Neerja’
  10. Best Tamil Film: ‘Joker’
  11. Best Gujarati Film: ‘ Wrong Side
    Raju’
  12. Best Marathi Film: ‘ Dashakriya’
  13. Best Bengali Film: ‘ Bisarjan’
  14. Best Kannada Film: ‘Reservation’
  15. Best Child Artist – Adhish
    Praveen (Kunju Daivam), Saj (Noor Islam), Manohara (Railway Children)
  16. Best Male Playback Singer –
    Sundara Iyer (Joker)
  17. Best Female Playback Singer –
    Thume jaake
  18. Best Screenplay (original) – Syam
    Pushkaran (Maheshinte Prathikaram)
  19. Best Screenplay (adapted) –
    Sanjay Krishnaji patel (Dashakriya)
  20. Best Editing – Rameshwar
    Ventilator
  21. Sound designer – Jayadevan (Kaadu
    Pookunna Neram)
  22. Best production design – 24
  23. Best Costume Designer – Sachin
    (Marathi film)
  24. Best Environmental film including
    agriculture – The Tiger who crossed the line
  25. Best Make-up Artist – MK
    Ramakrishna
  26. Best Music Direction – Babu
    Padmanabha (Kannada Lama)
  27. Special Mention – Kadvi Hawa
    Mukthi bhava (Hindi)
  28. Special Jury award for Mohanlal
    for Pulimurugan, Janatha Garage and Munthirivallikal Thalirkkumbol

Sports News –
NBA Launches International Basketball Schools Network In Mumbai

  • The National Basketball
    Association today announced the setting up of its first basketball school, a
    network of tuition-based basketball development programmes, in Mumbai.
  • The school, as part of a
    multi-year agreement announced today with India On Track (IOT), is open to male
    and female players between ages 6-18, a media release said here.
  • The new initiative adds an
    additional layer to the NBA’s existing basketball development efforts,
    including the Jr. NBA, Basketball without Borders (BWB) and NBA Academies, the
    release said.
  • Additional schools will be launched
    by NBA in India and around the world in the coming months, it added.

Misbah-ul-Haq announces international retirement post West Indies
series
  • The Pakistan Test captain,
    Misbah-ul-Haq, on 6 April 2017 announced that he would be retiring from international
    cricket after the end of the Test series in West Indies.
  • However, the cricketer will
    continue to play cricket at the domestic level.
  • Pakistan is scheduled to play
    three Test matches against West Indies, the first of which will start on 21
    April 2017 in Jamaica.
  • Misbah had taken over the
    captaincy of the Test team in the wake of the spot-fixing controversy in 2010
    in which Salman Butt, the captain then, was banned for five years alongside
    Mohammad Asif and Mohammad Amir.

Sponsored


(adsbygoogle = window.adsbygoogle || []).push({});

Regards

Team ExamPundit

bankersadda current affairs, sbi po exam, ibps po exam, current affairs for ibps, ibps po, ibps po 2017, ibps exam, gradeup, oliveboard, gk update, daily current affairs for ibps po exam, bankexam news, banking gk, gk 2017