Daily Current Affairs: December 7, 2016

Hindi named in top 10 most powerful languages in the world

The World Economic Forum has named Hindi in the top 10 most powerful languages on the planet. The list features English as the most powerful language followed by Mandarin.


India puts remote sensing satellite Resourcesat-2A into orbit

According to the ISRO, Resourcesat-2A is a follow on mission to Resourcesat-1 and 2, which were launched in 2003 and 2011 respectively. The new satellite Resourcesat-2A intends to continue the remote sensing data services to global users provided by the earlier two.


Maharashtra to roll out its own m-wallet

Maharashtra is set to become the first state to have its own mobile wallet that will also allow users to transfer funds to or from other mobile wallets such as Paytm and Mobikwik. ‘Mahawallet’ is expected to be launched in the next 15 days.


Donald Trump is TIME’s Person of the Year

Donald Trump, the US president-elect was announced as the 2016 Person of the Year and appeared on the coveted cover this year.

  • As TIME magazine declared their Person of the Year for 2016, many Indians were disappointed. This was also partly due to confusion.
  • On December 6, TIME announced Prime Minister Narendra Modi was the Person of the Year in the popular category, after thousands voted for the Indian PM on their readers’ poll.

RBI relaxes norms for online card transactions up to Rs 2,000

In a bid to speed up small value online transactions, the RBI has relaxed norms for additional factor of authentication (AFA) for payments up to Rs 2,000.


Highlights of RBI Monetary Policy 2016

Taking everyone by surprise, Reserve Bank of India’s Governor Urjit Patel kept the repo rate unchanged even as the central bank lowered GDP growth rate to 7.1 per cent and short term disruption in economic activities due to demonetisation.

The highlights of RBI’s fifth bi-monthly monetary policy statement of the financial year 2016-17:

  1. Repo rate unchanged at 6.25%, Reverse Repo at 5.75%
  2. Cash reserve ratio or CRR unchanged at 4%
  3. Cuts growth forecast to 7.1%, from 7.6% for this fiscal
  4. Inflation target remains 5% for March 2017, upside risk

Online marketing platform Mahila E-haat ties up with India Post, SBI

The Women and Child Development Ministry has tied up with India Post and State Bank of India to offer more payment options to buyers and simplify shipping of products bought from “Mahila E-haat”, an online marketing platform for women entrepreneurs.


Corporation Bank bags Best MSME Bank Award


Vijaya Bank bags Best Bank for SME Lending award


Veteran journalist, actor, playwright, Cho S Ramaswamy dead

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