Current Affairs January 30, 2017
RBI lifts ATM cash withdrawal limits from Feb 1
The Reserve Bank of India will remove limits placed on daily cash withdrawals from automated teller machines from Feb. 1 and will also lift all curbs on branch withdrawals from current account, cash credit and overdraft accounts with immediate effect
India Post Payments Bank starts pilot services
India Post Payments Bank (IPPB) kicked off its operations by rolling out pilot services in Raipur and Ranchi. Union Finance Minister Arun Jaitley, along with Minister of State for Communications Manoj Sinha, launched the India Post Payments Bank (IPPB).
- The bank will offer an interest rate of 4.5 per cent on deposits up to Rs 25,000; 5 per cent on deposits of Rs 25,000-50,000 and 5.5 per cent on Rs 50,000-1,00,000.
- The paid up equity of the new bank is Rs 800 crore, of which the government has already infused Rs 275 crore.
- Sun Pharmaceutical Industries, Cholamandalam Investment and Finance Company Ltd., and Tech Mahindra have dropped their plans to roll out payments bank.
AP Singh is interim head of Postal Bank
The Centre has appointed AP Singh, who was earlier Joint Secretary in the Department of Investment and Public Asset Management, as the interim Managing Director and CEO of IPPB.
FGII enters into bancassurance tie-up with Bank of Maharashtra
Future Generali India Insurance Company (FGII) has entered into a corporate agency tie-up with Bank of Maharashtra.
- Through this partnership, customers of Bank of Maharashtra can choose from a diverse range of non-life insurance products, all under one roof.
Lakshmi Vilas Bank, Fisdom tie-up to launch robo-advisory platform
Lakshmi Vilas Bank has tied up with Fisdom, a Bangalore-based fin-tech startup, to launch financial planning and wealth management services based on robo-advisory platform.
- The platform called Mission FINFIT will also include services like getting the KYC done, investing money in various platforms, viewing the account summary, withdrawing the invested money, etc.
Banks credit growth to remain subdued at 5-6% in FY17: Icra
According to ICRA, credit growth is likely to remain muted at 5-6 per cent at the end of the financial year 2016-17, as demand is yet to display a revival and the debt markets continue to offer more attractive pricing.
Economy to grow 6.8% in FY17, says Ficci’s Economic Outlook Survey.
Indian economy will grow 6.8 per cent this fiscal due to a slow down in the services and infrastructure sectors post demonetisation, according to a latest round of Ficci’s Economic Outlook Survey.
Nitin Gadkari declares 1,253 km road in Assam as National Highways
The Centre will invest Rs 15,000 crores to develop 1,253 kilometres of roads in Assam into National Highways over the next few years.
Karnataka makes most of Railways’ pass for poor under ‘Izzat scheme’
If monthly season tickets issued by the India Railways under its ‘Izzat scheme’ are any indication to poverty levels, Karnataka has the highest number of poor people and Chhattisgarh the lowest.
- Railways issues Izzat tickets to persons certified to be earning less than Rs 1,500 a month. The monthly fee for daily one-way travel of up to 150 km is Rs 25.
Pakistan declines India’s invitation to attend Speakers’ Summit next month
Amidst chill in Indo-Pak ties, Pakistan has declined an invitation by Indian Parliament and Inter-Parliamentary Union (IPU) to attend South Asian Speakers’ Summit to be held next month in Indore.
AAP launches its political campaign ‘Azadi Andolan’ in Gujarat
The Aam Aadmi Party (AAP) launched ‘Gujarat Azadi Andolan’ across all constituencies in Gujarat as it prepares for the state assembly election expected in December.
SC appoints four-member panel led by former CAG Vinod Rai to run BCCI
The Supreme Court appointed former Comptroller and Auditor General of India (CAG) and the current Chairman of Banks Board Bureau, Vinod Rai to head the four-member Board of Control for Cricket in India (BCCI) administrative committee to look after the day-to-day functioning of the board and ensure the smooth implementation of the Lodha panel’s proposals.
- Other members of the committee are: Historian Ramachandra Guha, Infrastructure Development Fiance Company (IDFC) MD Vikram Limaye and former women cricket captain Diana Edulji.
T20 World Cup for blind kicks off in Delhi
The matches will be played in twelve venues, including Delhi, Mumbai, Bengaluru, Hyderabad, Indore and Bhubaneswar.
- The final is slated for February 12.
- Rahul Dravid, the former Indian Cricketer and Captain, is the brand ambassador for 2017 T20 Blind Cricket World Cup. Dravid will also launch the ‘Support Blind Cricket by buying a Cricket Ball’ campaign.
India gets its own multi-sports museum at Kolkata
In a first, India’s Fanatic Sports Museum opened to the public in Kolkata.
- The museum will display memorabilia from cricket, hockey, football and the Olympics and Paralympics. Sourav Ganguly and Sachin Tendulkar were among others to inaugurate the museum.
Gopichand, Bindra in committee to prepare action plan for next 3 Olympics
Sports Minister Vijay Goel set up a Task Force comprising sportspersons like badminton coach Pullela Gopichand and Olympic gold medallist shooter Abhinav Bindra among others to prepare an action plan for the next three Olympic Games.
- The committee, formed in accordance with Prime Minister Narendra Modi’s directives, has been tasked to prepare a comprehensive action plan including short-term, medium-term and long-term measures for effective participation of Indian athletes in the next three Olympics to be held in 2020, 2024 and 2028.
- Venue for 2020 Olympics: Japan. For 2024 and 2028, the host countries are not named yet.
France’s Iris Mittenaere is the new Miss Universe
Beating out women from around the world, Iris Mittenaere, a 23-year-old dental student from France, has been crowned the winner of the 65th Miss Universe competition held this year in the Philippines.
Ashok Amritraj appointed UN in India Goodwill Ambassador for the Sustainable Development Goals
Award-winning Hollywood film producer and Wimbledon tennis player, Ashok Amritraj has been appointed the United Nations in India Goodwill Ambassador for the Sustainable Development Goals (SDGs).
Paytm’s journey now part of Harvard Business School’s curriculum
Paytm has been included as a case study by the India Research Center of the Harvard Business School.
- The study focuses on the company’s journey from being an online recharges platform to now building India’s largest mobile payments platform.
E-paathsala launches technology-backed services for higher education institutions in India
E-paathsala, a Bangalore based startup, launched its first-of-its-kind, end to end integrated accreditation and ERP technology solution for managing colleges and universities with multiple accreditations for standards such as NAAC (National Assessment and Accreditation Council) and NBA (National Board of Accreditation) etc.