DAILY CURRENT AFFAIRS: 20TH JAN 2017
(Daily News India)
Shared By: WWW.DailyGk.IN
1. 30 MORE COUNTRIES TO JOIN ASIA INFRASTRUCTURE INVESTMENT BANK
i. The Foreign Ministry spokesperson of China, Hua Chunying informed that thirty more countries have applied for joining the Asia Infrastructure Investment Bank besides 57 founding members.
ii. The Asian Infrastructure Investment Bank is an international financial institution that aims to support the building of infrastructure in the Asia-Pacific region.
iii. China is the largest shareholder having 26.6% voting shares. India is the second largest shareholder with 7.5% followed by Russia 5.93% and Germany with 4.5%.
2. UN REPORT ESTIMATES INDIA’S GDP TO GROW BY 7.7% IN 2017
i. Based on the UN report on World Economic Situation and Prospects, India’s economy is projected to grow by 7.7% in the fiscal 2017 because of being the fastest growing large developing economy.
ii. The United Nations report projected that India is going to be benefitted due to its strong private consumption and gradual introduction of significant domestic reforms.
iii. The growth estimate for 2018 has been projected at 7.6%. However, it also stated that low capacity utilization and stressed balance sheets of banks and businesses will have negative effect on strong investment revival in the short term.
v. Earlier the IMF cut India’s growth rate for the current fiscal year to 6.6% from its previous estimate of 7.6% while the World Bank too lowered India’s GDP growth for 2016-17 fiscal to 7% from its previous estimate of 7.6%.
3. ANTONIO TAJANI ELECTED NEW PRESIDENT OF EUROPEAN PARLIAMENT
i. Italian Political Leader Antonio Tajani has been elected as the new president of the European Parliament in Strasbourg, France.
ii. He will replace Germany’s Martin Schulz.Tajani won 351 votes to defeat his Italian counterpart Gianni Pitella against 282 votes in four rounds of voting.
4. BHARTI AXA GENERAL APPOINTS SANJEEV SRINIVASAN AS CEO, MD
i. Sanjeev Srinivasan has been appointed as CEO and MD of Bharti AXA General Insurance.
ii. Srinivasan was currently working as Chief Commercial and Principal Officer of General Insurance.
iii. He will focus to driving new distribution tie-ups, create a balanced portfolio, and creating a customer centric brand to drive profitable growth.
5. ICICI PRU ACQUIRES 8.41% STAKE IN FINO PAYTECH FOR RS 100 CRORE
i. ICICI Prudential Life Insurance has acquired 8.41% stake in Fino Paytech Ltd for a total consideration of Rs 100 crore.
ii. Fino Paytech Ltd provides technology-based solutions and services related to financial inclusion. Earlier, FPL was granted payment bank licence by the RBI.