Daily Current Affairs Update – 1-2 January, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs Update of 1st and 2nd January, 2017. These are important for the upcoming RBI Assistant Mains, IPPB Mains and Other exams.

Daily Current Affairs at a Glance – 1-2 January, 2017

  1. Apple, the American
    multinational technology company is all set to manufacture iPhones in the Indian city of Bengaluru.
  2. State Bank of India, the
    country’s largest bank has tied up with
    online classifieds portal magicbricks.com
    ,
    to conduct joint marketing activites and help rejuvenate the real estate sector.
     To kick start the MOU, SBI and
    Magicbricks are launching the “Seal the Deal” campaign.
  3. Public sector lender Bank of Baroda has
    entered into a partnership with CNX Corporation
    (CNX) with an objective to provide collateral management services
    towards the loans
    against warehouse receipt sanctioned to the farmers through
    the network of the bank’s branches across the country.
  4. Kerala has been pegged as a ‘Destination to Watch’ in 2017
    by
    ABTA’s ‘Travel
    Trends Report 2017’.
  5. India today successfully
    test-fired its nuclear-capable strategic ballistic missile Agni-IV
    with a strike range of 4000 km as part of a user trial from a test range
    off Odisha coast.
  6. In a major ruling, the Supreme Court on Monday sacked Anurag Thakur from the post of Board of Control for
    Cricket in India President
    .
  7. Union Sports Minister Vijay Goel
    in the last week of December 2016 informed that the ministry has suspended the
    recognition granted to Indian Olympic Association (IOA).
  8. India’s singles player Somdev
    Devvarman
    on 1 January 2017
    announced retirement from professional tennis.

Finance/Banking News:
Apple to make iPhones in Bengaluru

  • Apple, the American multinational
    technology company is all set to manufacture iPhones in the Indian city of
    Bengaluru.
  • The company is going to
    manufacture the iconic phones in the country in collaboration with Wistron, a
    Taiwanese original design manufacturer. The move is a part of the company’s
    efforts to cash in on India’s fast-growing smartphone market.

Key highlights
  • Wistron is planning to set up an
    iPhone manufacturing plant, especially for the Indian market in Bangalore’s
    Peenya Industrial Area.
  • The manufacturer would start work
    with the assembling of the phones.
  • Local manufacturing of the
    iPhones is expected to help Apple price its products at a rate more suitable to
    the Indian market.
  • Currently, Apple products attract
    12.5% additional duty on imports.
  • The company chose Bengaluru to
    set up the unit because it has the talent required to create high-quality
    technology products.

State Bank of India ties up with Magicbricks.com

  • State Bank of India, the
    country’s largest bank has tied up with online classifieds portal
    magicbricks.com, to conduct joint marketing activites and help rejuvenate the
    real estate sector.
  • To kick start the MOU, SBI and
    Magicbricks are launching the “Seal the Deal” campaign. Under Seal The Deal,
    SBI and Magicbricks will be hosting a mega online property show for SBI
    Approved Projects. This will be the first housing carnival in the industry at
    this scale.
  • Seal The Deal will showcase SBI
    Approved Projects on the Magicbricks platform. Builders are expected to provide
    great deals for the same which will in turn provide the much needed fillip to
    the real estate sector.

Bank of Baroda ties up with CNX Corporation

  • Public sector lender Bank of
    Baroda has entered into a partnership with CNX Corporation (CNX) with an
    objective to provide collateral management services towards the loans against
    warehouse receipt sanctioned to the farmers through the network of the bank’s
    branches across the country.
  • CNX is engaged in providing
    warehouse management services relating to commodities and inventories which
    include collateral management services, field warehousing arrangements,
    inventory audit services, storage and preservation services, procurement
    services, testing and certification services, inspection services, monitoring
    services.

Third protocol for amending DTAA signed between India and Singapore
  • India and Singapore on 30
    December 2016 signed the 3rd protocol for amending Double Taxation Avoidance
    Agreement (DTAA). This revisiting of the treaty is important as it will help
    the government in its efforts to eliminate black money from India.
  • The DTAA was signed or avoidance
    of double taxation as well as for prevention of fiscal evasion in relation to
    the taxes on income.
  • During the two years called as
    transition period (from 1 April 2017 to 31 March 2019) the capital gains on
    shares will be taxed at half of normal tax rate (in source country), subject to
    fulfilment of conditions in Limitation of Benefits clause.

Non-Financial News – India & States:
Kerala featured in British agency’s ‘Destinations to Watch’ category

  • Kerala has been pegged as a
    ‘Destination to Watch’ in 2017 by one of the UK’s largest and most influential
    body of travel agents and tour operators.
  • ‘God’s Own Country’ is the only
    Indian entry in the list of 12 tourist hotspots brought out by the Association
    of British Travel Agents (ABTA).
  • The list, featured in ABTA’s
    ‘Travel Trends Report 2017’, has Kerala in the eighth spot — higher than
    premier destinations like the US, South Africa and Vietnam.
  • The rankings consist of locations
    that are expected to capture travellers’ imaginations over the next year.

Agni-IV ballistic missile successfully test-fired from Balasore

  • India today successfully
    test-fired its nuclear-capable strategic ballistic missile Agni-IV with a
    strike range of 4000 km as part of a user trial from a test range off Odisha
    coast.
  • Supported by a mobile launcher,
    the surface-to-surface missile was flight tested from launch complex-4 of the
    Integrated Test Range (ITR) at Dr Abdul Kalam Island, formerly known as Wheeler
    Island, at about 11.55 hours, Defence Research and Development Organisation
    (DRDO) sources said.
  • Describing the trial as
    successful, they said this was the 6th trial of the indigenously developed
    Agni-IV missile which met the mission objectives. The last trial conducted by
    the specially formed strategic force command (SFC) of Indian Army on November
    9, 2015 was also successful.
  • The sleek missile having 4000 km
    strike range is a two stage missile. It is 20 meter-long weighing 17 tonnes.

Sports News:
SC sacks Anurag Thakur as BCCI President

  • In a major ruling, the Supreme
    Court on Monday sacked Anurag Thakur from the post of Board of Control for
    Cricket in India President.
  • Ajay Shirke was also removed from
    the post of BCCI secretary.
  • The apex court said the BCCI and
    state board officials failed to implement its order to bring transparency and
    accountability in the cricket body.
  • The court also issued contempt
    notice to Thakur.
  • The court said that no one above
    70 years, unsound mind, ministers, government servants, convicted persons and
    those holding post for cumulative term of 9 years can be office bearer.

Union Sports Ministry derecognises Indian Olympic Association
  • Union Sports Minister Vijay Goel
    in the last week of December 2016 informed that the ministry has suspended the
    recognition granted to Indian Olympic Association (IOA).
  • The decision was taken after the
    appointments of Suresh Kalmadi and Abhay Chautala as life presidents of the
    national Olympic body.
  • Goel stated that “the day
    the IOA took this decision to appoint Kalmadi and Chautala as life presidents,
    the government clarified that they don’t agree with it as the decision was
    against basic ethics. That’s why the government has decided to suspend their
    recognition till it reverses the order.”
  • After the suspension, the IOA
    will not be able to enjoy any kind of assistance from the Union Government.
  • Following the appointment of
    Kalmadi and Chautala, IOA’s assistant vice-president Narinder Batra had
    resigned from his post in protest over the appointments.

Somdev Devvarman announces retirement from professional tennis

  • India’s singles player Somdev
    Devvarman on 1 January 2017 announced retirement from professional tennis.
  • Devvarman was India’s star
    singles player since he first broke into the scene in 2008. However, his career
    was hampered by a recurring shoulder injury in 2012.
  • He has featured in an ATP Tour
    final by reaching the championship match of the Chennai Open in 2009 and the
    South African Open in 2011.

IFFHS names Lionel Messi as World’s Best Playmaker for 2016
  • The International Federation of
    Football History & Statistics (IFFHS) in the last week of December 2016
    named Lionel Messi as the World’s Best Playmaker for the year 2016.
  • The footballer won the award for
    his overall contribution to club and country.
  • Messi beat Andres Iniesta and
    Toni Kroos to win the prestigious honour for the second consecutive time in his
    career.

Sponsored


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

Regards

Team ExamPundit