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Wednesday, January 4, 2017

DAILY CURRENT AFFAIRS: 4TH JAN 2017

DAILY CURRENT AFFAIRS: 4TH JAN 2017
(Daily News India)
Shared By: WWW.DailyGk.IN

1. BHIM BECOMES MOST POPULAR ANDROID APP IN INDIA
i. Govt's online payments app, BHIM that was launched by PM Modi to simplify digital payments is now the number one free app on Google Play Store.
ii. BHIM - which stands for Bharat Interface for Money - is named after Dr BR Ambedkar.

2. INDIA RANKS 3RD AMONG COUNTRIES OFFERING HIGHEST SALARIES TO EXPATS
i. India has ranked 3rd among the countries offering the highest average annual salary to expatriates.
ii. Switzerland topped the list to offer highest average salary of about $188,275 a year to expats that was almost twice the global average, while Hong Kong was listed third.

3. PM MODI INAUGURATES INDIAN SCIENCE CONGRESS AT TIRUPATI
i. Prime Minister Narendra Modi has inaugurated the 104th  Indian Science Congress at the Sri Venkateswara University in Tirupati.
ii. ‘Science and Technology for National Development’ would be the theme of the Indian Science Congress.
iii. The basic aim of the 104th Congress was to focus on strengthening the scientific research in the country to make India among top three countries in the world in the field of Science and Technology by 2030.

4. BANKS CUT LENDING RATES: CORPORATE, HOME LOANS TO BE CHEAPER
i. A day after PM Narendra Modi announced an interest subvention for home loans of up to Rs. 12 lakh and asked banks to keep the poor and middle class at the focus of their activities many PSUs and private banks reduced their benchmark lending rate by up to 1.48 percent.
 ii. State Bank of India, other lenders including state-owned Oriental Bank of Commerce and largest private sector lender ICICI Bank and Andhra Bank announced a cut in the marginal cost of funds based lending rate following demonetisation.
iii. SBI along with PNB and Union Bank of India, yesterday reduced the lending rate by a good 0.9%.
iv. The reduction in lending rates may lead to an increase in credit taking frequency which has moderated substantially putting burden on balance sheet of banks.
v. The Union Government has kept interest rates on Small Savings Schemes like PPF and Sukanya Samriddhi Account, Kisan Vikas Patra, and Senior Citizens Savings Scheme unchanged for the January-March quarter.

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