Current Affairs Update – 31 December, 2016

Hello and welcome to exampundit. Here are the important Current Affairs of 31 December, 2016. These are important for the upcoming IPPB PO Mains, NIACL AO Mains and RBI Assistant Mains 2016-17.

• Prime Minister Narendra Modi on
  30 December 2016 launched an Aadhaar-based mobile app, Bharat Interface for
  Money (BHIM). The app is named after the main architect of Constitution of
  India, Dr Bhim Rao Ambedkar.
• The app BHIM will facilitate
  digital cash transactions with a thumbprint after the bank account is linked
  with Aadhaar gateway. It was launched at Digi Dhan Mela at Talkatora stadium in
  New Delhi.
• While addressing Digi Dhan Mela
  PM Modi said, the power of technology will help in empowering and uplifting the
  poor, which was the mantra of Dr Ambedkar. He also said that once an illiterate
  was associated with the thumb but with the launch of this app the thumb has
  turned up to be an identity of people as well as the bank.
• The Prime Minister also said that
  the government is working to empower BHIM and its security is being worked on.
• Apart from this, the Prime
  Minister who on this occasion also felicitated winners of Lucky Grahak Yojana
  had urged citizens to adopt digital currency from the New Year that is January
  2017.

• The tiny Union Territory along
  the Arabian Sea coast, Daman and Diu, has become the first cashless region of
  the country.
• Minister of State for Home
  Hansraj Gangaram Ahir has commended the UT administration for taking the
  initiative to make Daman and Diu as the first cashless region of the country.
• During a recent visit to the
  Union Territory, Ahir lauded the painstaking efforts of the UT administration
  in successfully making Daman and Diu a cashless region.
• At least 190 teams of trained
  volunteers visited over 25,000 households spread across the UT to educate their
  members about the benefits of cashless transactions, an official statement
  said.
• The administration has introduced
  free Wi-fi services in the Union Territory recently and 3,500 GB Data was used
  by over 32,000 tourists and local people during the last 45 days.

• The Cabinet headed by Prime
  Minister Narendra Modi also approved closure of Indian Drugs and
  Pharmaceuticals Ltd (IDPL) and Rajasthan Drugs and Pharmaceuticals Ltd (RDPL).
• The strategic sale approval is
  just the second in over 12 years. In September, the Cabinet had cleared the
  strategic sale of Bharat Pumps and Compressors Ltd.
• These will be the first
  privatisation since the sale of Jessop and Co in 2003-04 under the NDA
  government headed by Prime Minister Atal Bihari Vajpayee.
• BCPL and HAL are among the public
  sector units that NITI Aayog has identified for sale of government’s majority
  stake to private companies in order to bring in greater efficiency and professionalism
  in their functioning.
• At today’s meeting, Cabinet
  “approved the sale of surplus land of HAL, IDPL, RDPL and BCPL, as would be
  required, to meet their outstanding liabilities,” an official statement said.

• Value investor Prem Watsa’s
  Fairfax Financial Holdings Ltd. won regulatory approval to buy 51 per cent of
  Catholic Syrian Bank Ltd., marking the first time India’s central bank is
  allowing a foreign investor to purchase a majority stake in a domestic lender.
• Catholic Syrian, based in
  Thrissur in south India’s Kerala state, received notification of the approval
  Thursday from the Reserve Bank of India, director T.S. Anantharaman said in a
  phone interview. The 96-year-old Indian lender must now send a list of
  valuation companies, which can produce an estimate of Catholic Syrian’s worth,
  to the central bank for their selection before proceeding with discussions, he
  said Friday.
• The lender’s board can then
  negotiate a deal price with the Canadian investment firm based on the valuation
  report, Catholic Syrian Director S. Santhanakrishnan said by phone. The parties
  will need to reach a final agreement within three months of the valuation
  company being chosen, according to Anantharaman.

• Private sector lender DCB Bank on
  Friday launched its own mobile and tab based digital wallet Cippy Wallet app to
  encourage consumers to experience cash free purchases from the mobile phone for
  day-to-day needs.
• The app offers a ‘Split-Bill’
  feature which allows any payment that is either paid using Cippy Wallet app or
  other modes such as card or cash can be easily split between groups with a single
  click on the mobile phone!
• Cippy enables cash free payments
  by using the mobile phone camera to scan the mVisa QR code at the retailer or
  service provider The Cippy Wallet user can scan, select the amount to be paid
  and use their Cippy password to authorize payment. The digital payment is made
  to the bank account selected by the shop keeper or service provider while
  applying for mVisa QR code from their respective bank.

• The trial run of India’s first
  700 MW pressurised heavy water reactor (PHWR) coming up at Kakrapar is expected
  to take place in mid-2017, said a senior official of the Nuclear Power Corporation
  of India Ltd (NPCIL).
• India’s atomic power plant
  operator NPCIL is building four 700 MW PHWRs—two each at Kakrapar Atomic Power
  Station (KAPS) in Gujarat and Rajasthan Atomic Power Station (RAPS) in
  Rajasthan.
• The project cost for the two 700
  MW units is around Rs 11,500 crore, Kumar said.
• For NPCIL that has been building
  220 MW and 540 MW pressurised heavy water reactors, it is a major jump to go in
  for 700 MW PHWRs.
• Concrete was first poured in
  November 2010 for the 3rd unit at KAPS and in March 2011 for the fourth unit.
• According to Pathak work at the
  7th and 8th units (700 MW) at RAPS are also progressing well with the erection
  of major components.

• India’s first AYUSH university
  will be set up in Kurukshetra’s Fattupur village as the local panchayat has
  donated 100 acres for the purpose. AYUSH is the acronym for alternative
  medicine streams ayurveda, yoga and naturopathy, unani, siddha and homeopathy.
• Thanesar MLA Subhash Sudha said a
  proposal has been sent to the government and the process to start the
  university just awaits President’s signed notification. He further said the
  proposal of land has already been accepted by chief minister Manohar Lal
  Khattar and health minister Anil Vij and the work was expected to start in a
  few weeks.
• Shri Krishna Government Ayurvedic
  College (SKGAC) is already operational in Sector 8, Kurukshetra, and would continue
  at the same place. AYUSH University will be established in Fattupur, which is
  about 5km from SKGAC.
• The Union government had released
  grant-in-aid of Rs 3 crore under the centrally sponsored scheme for quality
  control of ayurvedic drugs for establishment of the laboratory and state
  ayurvedic pharmacy on SKGAC campus. Though the construction of both buildings
  was completed in 2008-09 and machinery and equipment were also purchased, these
  were not put to use.

• Gujarat chief minister Vijay
  Rupani dedicated India’s first laser technology-based advanced AVMS RTO
  check-post at Shamlaji of Aravalli district on Friday.
• The check-post is equipped with
  advanced ray technology with a cost of Rs 4.72 crore.
• Along with this programme, Rupani
  also laid foundation stones of various developmental works worth Rs 30 crore in
  tribal area of Aravalli district.
• On the occasion Transportation
  Minister Vallabhbhai Kakadiya said that state government has made 125 people
  oriented decisions within just 100 days of ruling. We can witness the
  experience from Shamlaji check-post itself to fulfill the goal of our Chief
  Minister to make government transparent and corruption-free, he added.
• Principal Secretary to
  Transportation Department Vipul Mitra briefed people about the would-be
  benefits to vehicle owners as initiations of AVMS RTO check-post. While,
  Commissioner of Transportation Department and Secretary In-charge to Aravalli
  District RM Jadav gave welcome speech.

• India’s first transgender school
  opened in Kochi on Friday. The school, named Sahaj International, was
  inaugurated by transgender activist, writer and actor Kalki Subramaniam at
  Thrikkakara in Kerala’s Ernakulam district.
• This alternative learning centre
  works in collaboration with National Institute of Open Schooling (NIOS).
• The school, the first of its kind
  in the country, is expected to go a long way in ensuring equal opportunities
  for transgenders who have dropped out from school. The new learning centre will
  help them continue their education and appear for Class X and XII examinations.

• Social-democrat Sorin Grindeanu
  was on 30 December 2016 named as the Prime Minister of Romania. Romania’s President
  Klaus Iohannis signed the official decree naming Grindeanu as the new Prime
  Minister.
• By doing so, Iohannis turned down
  the appointment of Sevil Shhaideh, an economist who could have become the first
  female Muslim PM of Romania.
• He will now face a confidence
  vote in the Romanian Parliament on his programme and cabinet nominees. Once his
  appointment is approved, he will be given 10 days to name the government
  ministers.

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Team ExamPundit