Current Affairs January 27, 2017
RBI prohibits investments in ‘non-cooperative countries’
Reserve Bank today prohibited Indian entities from making direct investments (FDI) in any entity located in ‘non co-operative countries and territories’, as identified by the inter-governmental body FATF (Financial Action Task Force).
- FATF – headquartered at Paris, France
IndiaPost becomes 3rd entity to receive licence to start payment bank operations
IndiaPost has become the third entity to receive a final license last week from the Central Bank to start its payment bank operations.
- Country’s largest telcom service provider Bharti Airtel and digital payments firm Paytm are the other two to have received the license while only Airtel has started operations so far.
- The government has also appointed AP Singh has interim MD and CEO of the India Post Payment Bank.
CASHe integrates Paytm Wallet for direct cash transfers
CASHe, India’s fastest loan giving app for young salaried professionals, has partnered with Paytm, India’s largest mobile payments and commerce firm to allow its users to deposit cash transfers from CASHe to their Paytm wallets.
- CASHe offers multiple loan options ranging from Rs. 5,000 to Rs. 1,00,000 payable over 15, 30 and 90 days.
GAAR to become effective from April 1, reaffirms CBDT
The Central Board of Direct Taxes (CBDT) issued the clarifications on implementation of GAAR provisions, which is to kick-in from April 1 this year.
- General Anti-Avoidance Rules (GAAR) is basically an anti-tax avoidance rule that empowers revenue authorities in a country to deny the tax benefits of transactions/arrangements which do not have any commercial substance or consideration other than achieving the tax benefit.
National MSME Policy to be formulated for the First Time in India
The One Member Committee under the chairmanship of Dr. Prabhat Kumar was constituted by the Ministry of MSME on 31.12.2015 to help in formulating National MSME Policy. The country does not have an MSME policy till date.
- The committee has now presented its report to Shri Kalraj Mishra, Union Minister for Micro, Small and Medium Enterprises.
Meghalaya Governor V Shanmuganathan resigns following molestation charges
Facing sexual harassment charges, Meghalaya Governor V Shanmuganathan has resigned after a section of Raj Bhavan employees demanded his removal for “seriously compromising” the dignity of the gubernatorial office.
Governors Banwarilal Purohit, PB Acharya to take additional charge of Meghalaya, Arunachal Pradesh
With the governor’s post in two states – Meghalaya and Arunachal Pradesh – falling vacant due to the resignation of Meghalaya governor V Shanmuganathan, the Centre has asked Assam and Nagaland Governors to take additional charge of the two states respectively.
- Assam Governor Banwarilal Purohit is given additional charge of Meghalaya, and Nagaland Governor PB Acharya is asked to take additional charge of Arunachal Pradesh.
Arunachal launches scheme to check infant mortality
Arunachal Pradesh launched ‘Dulari Kanya’, a special scheme to check infant mortality in the state, on the occasion of the 68th Republic Day.
- Under the scheme, government will deposit Rs 20,000 in the bank account of a girl child, born in any government hospital. It would be paid along with the accrued interest after she attains 18 years of her age.
Mysuru gets India’s 1st post office passport Kendra
Mysuru got India’s first Post Office Passport Seva Kendra (POPSK), which will offer all passport related services on the lines of PSKs.
- It has been named as POPSK because the ministry of external affairs (MEA) has tied up with the postal department to offer passport related services through a network of post offices.
WHO calls upon South Asian countries to make efforts to end leprosy
WHO has called upon South Asian countries, including India, which accounted for 60 per cent of leprosy cases worldwide in 2015, to make more efforts and adopt a multi-sectoral approach to end the scourge.
ORF emerges top Indian think tank in Asia category, ranks 5th out of 90
The Observer Research Foundation (ORF) has emerged as the top ranked think tank in India in the China, India, Japan and the Republic of Korea category, according to the latest Global Go To Think Tank Index Report.
- In the Asia region, ORF finished 5th out of 90 think tanks in this category, improving its position from 6th (out of 65) last year, while the first rank was retained by the Korea Development Institute, Republic of Korea
Pankaj Advani wins seventh national billiards championship
Recently crowned the world champion in the 150-up format, Pankaj Advani won his seventh national title beating Rupesh Shah.
National Geoscience Award for Keshav Krishna
A Keshav Krishna, a scientist at the National Geophysical Research Institute (NGRI) has been selected for the National Geoscience Award for 2016.
- The award given by the Union Ministry of Mines is in recognition of his work in the field of geo-environmental studies.
Alibaba’s financial arm acquires MoneyGram
Ant Financial, e-commerce giant Alibaba’s financial arm, has reached an agreement to acquire American money-transfer major MoneyGram for $880 million, in a deal that will expand the firm’s business in the US after India and Thailand.