Daily Current Affairs: February 13, 2017

Current Affairs February 13, 2017

Government allocates Rs 500 crore to India Post Payments Bank for financial-year 2017-18

Government has allocated Rs 500 crore to India Post Payments Bank for financial year 2017-18 as it gears up to set up 650 branches across country by September 2017.

  • Government has allocated Rs 125 crore as “capital infusion into corporate entity for India Post Payments Bank” and Rs 375 crore as “grant in aid to India Post Payments Bank (IPPB)”, as per Output-Outcome Framework for Schemes 2017-18 for the Department of Posts .
  • India Posts is the second entity to roll out payments bank — though on a pilot basis — in Raipur and Ranchi, after Airtel that has earmarked Rs 3,000 crore as initial investment for pan-India operations with an interest rate of 7.25 per cent on deposits.

World Bank Group to conduct training programmes for NBFCs

International Finance Corporation (IFC), part of the World Bank Group, has teamed up with Finance Industry Development Council (FIDC) to conduct training programmes for Non Banking Finance Companies (NBFCs).

  • The training programmes will be on ‘movable asset financing’ and ‘commercial credit reporting’.

PSBs may bank on UDAY to free up Rs 20,000 crore

State-run banks will be able to free up about Rs 20,000 crore of capital through Ujwal Discom Assurance Yojana (UDAY) as the ongoing reforms in the power sector will allow them to reduce their loan-loss provisioning.

IDFC Asset Management Company launches fixed income fund

IDFC Asset Management Company has launched an open-ended fixed income fund and hopes to mop-up revenue in the range of Rs 300 crore-500 crore from the scheme in the NFO period itself.

GDP growth to slow to 5.7% in January-March 2017: Nomura

India’s economic growth is likely to remain muted in the first quarter of this calender year with the GDP likely to grow at 5.7 per cent in the January-March period amid subdued activity, according to a report by Nomura.

MoU signed bteween the Department of Posts and Union ministry of Labour.

According to the MoU signed, post offices will now provide services such as employment registration centres for rural youth through National Career Services portal and will also be authorised to issue Aadhar-linked digital life certificates to EPFO pensioners.

India’s first floating elementary school inaugurated on Manipur’s Loktak Lake

Situated about 50 km from Imphal, the school has been inaugurated at Langolsabi Leikai of Champu Khangpok village in Manipur.

  • The Loktak Lake is referred as the “lifeline of Manipur” as it is highly productive and many lives depend on the lake for endurance.

Haryana wins Rs 1 crore Kabaddi championship

Hosts Haryana won the first edition of the three-day Pandit Deen Dayal Updhyay All India National Style Kabaddi championship held at Motilal Nehru School of Sports held at Sonipat.

  • Haryana defeated the Railways team 33-27 to clinch the title.

International spice conference in Kerala to focus on disruptive innovation

The second edition of the International Spice Conference began at Kovalam in Thiruvananthapuram district of Kerala.

GNFC township becomes 100% cashless

Gujarat Narmada Valley Fertilizers (GNFC) township, the state owned company’s township at Bharuch, which has a population of around 5,000 and floating population of around 10,000 every day, has become 100% cashless and probably the first such township in India.

Sandeep Jajodia is new Assocham President

Sandeep Jajodia has been elected President of the industry body Associated Chambers of Commerce and Industry of India (Assocham).

Reliance Defence signs pact with US Navy

Reliance Infrastructure Ltd (RInfra) controlled Reliance Defence and Engineering Ltd (RDEL) has signed Master Ship Repair Agreement (MSRA) with US Navy.

  • Earlier in January 2017, Reliance Shipyard was qualified by US Navy as an approved contractor.
  • Reliance Shipyard at Pipavav, Gujarat is the first shipyard in India to have received MSRA Certification to undertake servicing and repairing works for the vessels of Seventh Fleet.

ICRISAT Sets Up Hub For Innovations In Agriculture

The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) has set up iHub to provide “a creative space where agricultural tech entrepreneurs, scientists and technology experts can collaborate to innovate.”

Joe Root replaces Cook as England Test captain

Middle-order batsman Joe Root has been appointed as England’s new Test captain, succeeding Alastair Cook.

  • Cook had stepped down as England’s Test captain.

China launches anti-dumping probe against Indian manufactures

China launched anti-dumping and countervailing duties investigations against some Indian manufactures for allegedly exporting a chemical product – widely used in dyes and pharmaceutical – to the country at an artificially low price.

BAFTA 2017: La La Land takes 5 trophies, Dev Patel wins for Lion

The 70th British Academy Film Awards, and for sponsorship reasons the EE British Academy Film Awards, more commonly known as the BAFTAs, were held on 12 February 2017 at the Royal Albert Hall in London, to honour the best British and international contributions to film in 2016.

Winners are:

  • Damien Chazelle, Best Director winner
  • Casey Affleck, Best Actor winner for
  • Emma Stone, Best Actress winner
  • Dev Patel, Best Supporting Actor winner
  • Viola Davis, Best Supporting Actress winner

59th Annual Grammy Awards announced

The 59th Annual Grammy Awards ceremony was held on February 12, 2017 in Los Angeles, California, U.S. The ceremony recognized the best recordings, compositions, and artists of the eligibility year, which runs from October 1, 2015 to September 30, 2016.

  • British singer Adele has won top awards at Grammys and she got 5 prizes including Album of the Year, Record of the Year and Song of the Year.
  • Indian tabla player Sandeep Das was part of Yo-Yo Ma’s Silk Road Ensemble “Sing Me Home” which won the Grammy in the World Music category that also included sitarist Anoushka Shankar’s “Land of Gold”.


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