Daily Current Affairs: January 08, 2017

Reserve Bank of India to give Nepal rupees 1 billion in 100-rupee notes

The Reserve Bank of India (RBI) has agreed to provide Rs 1 billion to the Nepal Rastra Bank (NRB) after its request that the country was facing a shortage of INR 100 denomination banknotes.

  • The RBI had earlier told the Nepali central bank to wait till the situation normalises post demontisation.

UCO Bank launches Suvidha prepaid card

State-run UCO Bank has launched its ‘UCO Suvidha (e) Prepaid Card’.

  • According to a release by the bank, the prepaid card is “a hassle-free” alternative to cash, which can be used for cash withdrawals, purchase at Points of Sale (POS) or, over the Internet by bank’s own customers as well as walk-in customers.

Government asks banks to obtain PAN from all account holders by February end

Tightening the noose around tax evaders, the government has asked banks to obtain permanent account number (PAN) or Form-60 if PAN is not available, from all bank account holders by February 28, 2017.

  • However, this rule will not apply to Basic Savings Bank Deposit Accounts (BSBDA), which are zero balance savings accounts, including Jandhan accounts.

Anti-avoidance tax rule GAAR to kick in from April 2017

GAAR, which was originally to be implemented from April 1, 2014, will now come into effect from April 1, 2017 (Assessment Year 2018—19).

  • General Anti-Avoidance Rule (GAAR) was part of the 2012-13 Budget speech of the then Finance Minister Pranab Mukherjee to check tax evasion and avoidance.
  • However, its implementation was repeatedly postponed because of the apprehensions expressed by foreign investors.

PM Modi to launch a scheme to skill Indian youth seeking jobs abroad

Prime Minister Narendra Modi said the government will shortly launch the Pravasi Kaushal Vikas Yojana (PKVY) which is aimed at skilling Indians seeking employment abroad. The prime minister announced this at the 14th Pravasi Bharatiya Divas Convention in Bengaluru.

Haryana launches ‘green Gurugram’ scheme

With a view to increase forest cover in Gurugram, about 20 lakh saplings will be distributed in the city by Haryana Forest Department in February.

Rohan Bopanna and Jeevan Nedunchezhiyan bag men’s doubles title in Chennai Open

Novak Djokovic wins Qatar Open tennis title

China to set up world’s highest altitude telescopes in Tibet

China is setting up the world’s highest altitude gravitational wave telescopes in a Tibet prefecture close to Line of Actual Control with India with a budget of $18.8 million to detect faintest echoes resonating from universe which may reveal more about the Big Bang theory.

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