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Wednesday, January 18, 2017

DAILY CURRENT AFFAIRS: 18TH JAN 2017

DAILY CURRENT AFFAIRS: 18TH JAN 2017
(Daily News India)
Shared By: WWW.DailyGk.IN

1. IMF LOWERS INDIA’S GDP GROWTH RATE TO 6.6% FROM 7.6%
i. According to the World Economic Outlook report the International Monetary Fund has lowered the India’s GDP growth rate for the current fiscal year by one point to 6.6% from its previous estimate of 7.6 % due to the effect of demonetization on consumption and expenditure.
ii. IMF also cut India’s GDP forecast for 2017-18 by 0.4 points to 7.2 percent as against previous forecast of 7.6 percent.
iv. The global growth for 2016 was estimated at 3.1 % that remained unchanged from previous forecast while for 2017 the global forecast is estimated at 3.4 % for advanced and 3.6 % for developing economies.

2. YES BANK LAUNCHES BUSINESS ACCELERATOR PROGRAM YES FINTECH
i. Private sector lender YES BANK in collaboration with T-Hub, Anthill and Let’s Talk Payments launched a unique business accelerator program “YES FINTECH” to provide start-ups a platform for creating sustainable and market ready products as well as provide innovative banking solutions to the customers.
ii. YES FINTECH has invited start-ups applications from across the global community on its website www.yesfintech.com. It will select top 12 start-ups for 15 week dual destination program to be held in Mumbai and Hyderabad.
iii. The focus areas will be payments, forex & treasury, trade finance, capital markets, lending, customer value added services, enterprise software and government risk & compliance.
iv. T-Hub is India’s fastest growing start-up engine specialized in innovation, scale and deal flow. Anthill and Let’s Talk Payments are global platform for financial technology.

3. RBI HIKES CASH WITHDRAWAL LIMIT FROM ATMS TO RS. 10,000 PER DAY
i. The Reserve Bank of India from January 16, 2017 has increased the limit of cash withdrawal from ATMs to Rs 10,000 per day from the current Rs 4,500 with immediate effect.
ii. However the bank made no changes to the weekly withdrawal limits which is Rs 24,000.
iii. The total limit to withdraw from current accounts has also been increased to Rs 1,00,000 per week from the current limit of Rs 50,000 per week which will also be applicable on the overdraft and cash credit accounts.

4. PETROLEUM CONSERVATION CAMPAIGN ‘SAKSHAM 2017’ INAUGURATED IN NAGALAND
i. The Ministry of Petroleum and Natural Gas inaugurated one month long oil and gas conservation campaign “Saksham-2017” at a function in Unity College, Dimapur in Nagaland.
ii. The awareness campaign was inaugurated by chief guest Ramongo Lotha, secretary Food and Civil Supplies.
iii. The main objective of the campaign is to spread the awareness on fuel conservation so as to minimize the wastage of petroleum products as the demand for it remains high.
iv. India is the Third largest global consumer of petroleum and imports 80 % of the crude oil to meet the demand.
vi. The awareness campaign on oil and gas conservation is conducted every year by the Ministry of Petroleum and Natural Gas.

5. INDIA SIGNS FINANCING AGREEMENT WITH WORLD BANK FOR US$ 48 MILLION FOR “NAGALAND HEALTH PROJECT”
i. The Joint Secretary of Department of Economic Affairs Mr. Raj Kumar and Acting Country Director of the World Bank Mrs. Genevieve Connors are signed financing agreement for IDA credit of US$ 48 million for the ‘Nagaland Health Project’.
ii. The Nagaland Health Project has approved by the World Bank. The deadline of Nagaland health Project is 31st March, 2023.
iii. Its objective is to improve health services and increase their utilization by communities in targeted locations in Nagaland.

6. INDIA, MAURITIUS SIGNED MOU FOR COOPERATION IN COOPERATIVE SECTOR
i. India and Mauritius has signed a Memorandum of Understanding to facilitate cooperation in the cooperative sector.
ii. The MoU was signed by Business, Enterprise and Cooperatives Minister of Mauritius Soomilduth Bholah and Union Agriculture Minister Radha Mohan Singh.
iii. Under this MoU, India will extend its expertise and technology to Mauritius in fisheries, agro industry and dairy sectors. The MoU will enable the two countries to collaborate in the cooperative and related sectors and benefit thousands of Mauritians.

OBJECTIVE QUESTIONS BASED ON TODAY’S NEWS

Q1. WHAT IS THE INDIA’S GDP GROWTH FORECAST RATE FOR FY 17, AS PER UPDATED “WORLD ECONOMIC OUTLOOK” REPORT OF INTERNATIONAL MONETARY FUND?
a)   6.5%
b)   6.6%
c)   7.1%
d)   6.2%
Q2. HOW MUCH LOAN AMOUNT HAS BEEN SANCTIONED BY WORLD BANK FOR “NAGALAND HEALTH PROJECT”?
a)  $68 million
b)  $88 million
c)  $58 million
d)  $48 million
Q3. RBI RAISED THE CASH WITHDRAWAL LIMIT FROM ATMS FROM RS 4500 TO?
a)   Rs 10000
b)   Rs 6000
c)   Rs 18000
d)   Rs 15000
Q4. WHICH STATE HAS INAUGURATED PETROLEUM CONSERVATION CAMPAIGN ‘SAKSHAM 2017’?
a)   Assam
b)   Nagaland
c)   Sikkim
d)   Manipur
Q5. WITH WHICH COUNTRY INDIA SIGNED A MOU FOR COOPERATION IN COOPERATIVE SECTOR?
a)   Bangladesh
b)   Sri Lanka
c)   Mauritius
d)   Maldives

ANSWER: 
1 - B    2 - D    3 - A    4 - B    5 - C


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