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DAILY CURRENT AFFAIRS: 28 DEC 2017

DAILY CURRENT AFFAIRS: 28 DEC 2017
(DAILY NEWS INDIA)
SHARED BY: WWW.DAILYGK.IN

1.      $318 MILLION LOAN AGREEMENT SIGNED WITH WORLD BANK FOR FARMERS IN TAMIL NADU
i. The Government of India, the Government of Tamil Nadu and the World Bank signed a $318 million loan agreement for the Tamil Nadu Irrigated Agriculture Modernization Project to promote climate resilient agriculture technologies, improve water management practices, and increase market opportunities for small and marginal farmers.
ii. The $318 million loan from the IBRD has a 5-year grace period and a maturity of 19 years.

2.      UTTAR PRADESH INTRODUCES NEW POWER SCHEME
i. Uttar Pradesh has launched a free household power connection scheme for the poor in the state to mark former PM Atal Bihari Vajpayee’s birth anniversary. The scheme is driven by government’s motto ‘Prakash hai to Vikas hai’ (the barometer of development is light).
ii. The government has also introduced Kisan Uday Yojana, a novel scheme for farmers. The scheme would cover 10 lakh farmers by 2022, would lead to 35 percent saving on power consumption.

3.      MHA DIRECTS NGOS TO OPEN ACCOUNT IN DESIGNATED BANKS INTEGRATED WITH PMFS
i. The Union Ministry of Home Affairs has directed all NGOs, individuals and business entities receiving foreign funds to open accounts in any of 32 designated banks, including one foreign, within a month. The MHA order comes in exercise of the powers conferred under Foreign Contribution (Regulation) Act, 2010.
ii. These accounts opened in 32 designated banks will be integrated with central government’s Public Financial Management System. Its purpose is to provide higher level of transparency and hassle-free reporting compliance.


4.      IRDAI NORMS ALLOW INSURERS TO BEGIN OFFSHORE BUSINESS FROM GIFT IFSC
i. Sectoral regulator IRDAI has issued regulations for insurance firms to carry out offshore business from Gujarat-based GIFT International Financial Services Centre.
ii. Under the regulations, for the first time in the country, foreign insurers are permitted to open IFSC Insurance Office at GIFT IFSC. GIFT IFSC already hosts three major insurance players, GIC Re, New India and ECGC.

5.      IN A FIRST, COMMERCIAL FLIGHT NOD FOR MADE-IN-INDIA PLANE DORNIER 228
i. The Directorate General of Civil Aviation has allowed Hindustan Aeronautics Ltd- manufactured Dornier 228 to be used for civilian flights. The 19-seater aircraft has, till now, been used by defence forces and is the first plane to be made in the country for commercial flights.
ii. HAL can sell this plane to airlines in India and it can be used by them for regional flights under the Indian government's ambitious Ude Desh Ka Aam Naagri n(UDAN) scheme.

6.      ANUSHKA SHARMA IS PETA’S ‘PERSON OF THE YEAR’
i. Actress Anushka Sharma has been named PETA's Person of the Year by animal rights organisation People for Ethical Treatment of Animals.
ii. Anushka is a vegetarian, has nabbed the title for helping to protect dogs from fireworks to advocating for horses who are forced to pull carriages in Mumbai. She was named PETA's Hottest Vegetarian Celebrity in 2015.

7.      LOK SABHA PASSES GST (COMPENSATION TO STATES) AMENDMENT BILL, 2017
i. The Lok Sabha has passed the Goods and Services Tax (Compensation to States) Amendment Bill, 2017. The Bill amends the GST (Compensation to States) Act, 2017 and replaces an Ordinance promulgated in September 2017.
ii. The amendment bill increases maximum rate at which compensation cess can be levied from 15 to 25% on motor vehicle for transport of not more than 13 persons (mostly luxury vehicles), including the driver and motor vehicles falling under mentioned sub-headings
iii. The purpose this law is to provide compensation to state for a period of five years from the date on which the state brings its State GST Act into force. It allows the Union Government to notify rate of the GST Compensation Cess on items such as pan masala, coal, aerated drinks, and tobacco, subject to certain caps.

8.      VIN DIESEL, 2017'S TOP-GROSSING ACTOR- FORBES
i. Vin Diesel has been named the top-grossing actor of 2017 by Forbes, with $1.6 billion in global ticketing receipts from his film 'The Fate of the Furious'.
ii. The second spot was occupied by Dwayne Johnson 'The Rock', with $1.5 billion receipts. 'Wonder Woman' actress Gal Gadot, whose films earned $1.4 billion worldwide, featured in the third spot on the list.

9.      IN A FIRST, SAUDI ARABIA HOSTS WORLD CHESS GAMES
i. Saudi Arabia is hosting a world chess tournament for the first time, nearly two years after the country’s top cleric issued a religious edict against playing the board game.
ii. The tournament has been named as the King Salman World Rapid and Blitz Chess Championships. The world’s top three chess players from Norway, Armenia and Azerbaijan are participating in the tournament.

10.  MUSIC LEGEND ROBBIE MALINGA PASSES AWAY
i. Legendary South African musician Robbie Malinga passed away. The veteran musician suffered from anaemia.
ii. He announced his retirement as a solo artist in 2016, after more than 20 years in the industry. The musician is known for his hit songs such as, ‘Sobabili’, ‘Mthanda’ and ‘Baby Please’.

OBJECTIVE QUESTIONS BASED ON TODAY’S NEWS

Q1. SECTORAL REGULATOR IRDAI HAS ISSUED REGULATIONS FOR INSURANCE FIRMS TO CARRY OUT OFFSHORE BUSINESS FROM GUJARAT-BASED GIFT INTERNATIONAL FINANCIAL SERVICES CENTRE. WHO IS THE PRESENT CHAIRMAN OF IRDAI?
a)  T.S. Vijayan
b)  P Simharao
c)  S Christopher
d)  T. Suvarna Raju
Q2. WHICH STATE GOVERNMENT HAS LAUNCHED A FREE HOUSEHOLD POWER CONNECTION SCHEME FOR THE POOR IN THE STATE TO MARK ATAL BIHARI VAJPAYEE’S BIRTH ANNIVERSARY?
a)  Karnataka
b)  Uttar Pradesh
c)  Uttarakhand
d)  Andhra Pradesh
Q3.  THE GOVERNMENT OF TAMIL NADU AND THE WORLD BANK SIGNED A LOAN AGREEMENT FOR THE TAMIL NADU IRRIGATED AGRICULTURE MODERNIZATION PROJECT TO PROMOTE CLIMATE RESILIENT AGRICULTURE TECHNOLOGIES. WHAT IS THE AMOUNT OF THE LOAN THAT WAS SANCTIONED?
a)  $418 million
b)  $518 million
c)  $318 million
d)  $458 million
Q4. WHICH OF THE FOLLOWING COUNTRY IS HOSTING A WORLD CHESS TOURNAMENT FOR THE FIRST TIME?
a)  Azerbaijan
b)  Iraq
c)  The UAE
d)  Saudi Arabia
Q5. LEGENDARY MUSICIAN ROBBIE MALINGA PASSED AWAY RECENTLY. HE WAS FROM WHICH COUNTRY?
a)  South Africa
b)  Canada
c)  Netherlands
d)  Australia

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



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