DAILY CURRENT
AFFAIRS: 1 AUG 2017
(DAILY NEWS INDIA)
1.
SHRI MUKHTAR ABBAS NAQVI LAUNCHES “JIYO PARSI PUBLICITY PHASE-2” IN MUMBAI
i.
Union Minister of state for Minority Affairs and Parliamentary Affairs Shri
Mukhtar Abbas Naqvi launched “JIYO PARSI PUBLICITY PHASE – 2” function in
Mumbai.
ii.
In the year of 2013 “Jiyo Parsi Publicity Phase-1” was initiated to increase
the small minority population of parsi
community.
iii.
The main objective of the “Jiyo Parsi” scheme is to reverse the declining trend
of Parsi population by adopting a scientific protocol and structured
interventions, stabilize their population and increase the population of Parsis
in India
iii.
The scheme implemented two components: 1.Medical Assistance and
2.Advocacy/Counselling.
2.
‘RAJASWA GYANSANGAM’ SCHEDULED TO BE HELD IN NEW DELHI
i.
‘Rajaswa Gyansangam’ is going to be held on 1st and 2nd September, 2017 at
Vigyan Bhawan in New Delhi.
ii.
The Prime Minister, Shri Narendra Modi will inaugurate this 2-day Conclave on
the 1st day of September, 2017. The main reason of this inauguration will be on
GST as well as on unearthing black money.
iii.
The Tax Officers of the State Governments will also be invited for discussion
for the first time on the GST related issues during the 1st day of the two day
Conclave.
3.
7 PROJECTS WORTH RS 425 CR APPROVED BY NMCG
i.
The Executive Committee of National Mission for Clean Ganga in its 4th meeting
has approved 7 projects worth Rs 425 cr in the sector of sewage infrastructure,
Ghat development and research.
ii.
In sewage sector it includes 3 projects each in Uttar Pradesh and Bihar have
been approved. For Uttar Pradesh, interception, diversion and STP projects for
Unnao, Shuklaganj and Ramnagar have been approved.
iii.
These three projects are aimed at creation of sewage treatment capacity of 29
MLD (Unnao- 13 MLD, Shuklaganj- 6 MLD and Ramnagar- 10 MLD) with a total cost
of Rs 238.64 cr.
iv.
In Bihar, three projects at Sultanganj, Naugachia and Mokama with total
estimated cost of Rs 175 cr have been approved.
v.
These three projects will create additional sewage treatment capacity of 27 MLD
(Sultanganj- 10 MLD, Mokama- 8 MLD and Naugachia- 9 MLD).
4.
WORLD’S LONGEST PEDESTRIAN SUSPENSION BRIDGE’ THE EUROPABRÜCKE (EUROPE BRIDGE)’
OPENS in Switzerland
i.
The world’s longest pedestrian suspension bridge the Europabrücke or Europaweg
(Europe Bridge), a ribbon-thin span nearly a third of a mile long at in Randa,
Switzerland.
ii.
It measures 1,620 feet long and rises as high as 278 feet above the Grabengufer
ravine. The span is also impossibly narrow, at just 25.6 inches wide.Hikers can
now cross the Europaweg (Europe Bridge) which connects Grächen and Zermatt and
measures nearly 500m.
iii.
The Europaweg replaces an older bridge which was closed in 2010 after it was
damaged by falling rocks.
5.
RBI SLAPS RS. 3 CR PENALTY ON UNION BANK FOR KYC NON-COMPLIANCE
i.
RBI has imposed a penalty of Rs 3 cr on Union Bank of India for
“non-compliance” on Know Your Customer norms.
ii.
Rs.2 cr was imposed for “huge cash withdrawals in certain accounts” maintained
with Union Bank of India and Rs. 1 cr was imposed for fraud in a bank. The
central bank had examined the documents regarding the complaint and notice was
issued to the state-owned lender.
iii.
The action is based on deficiencies in regulatory compliance and is not
intended to pronounce upon the validity of any transaction or agreement entered
into by the bank with its customers.
iv.
The bank was asked to show cause “as to why penalty should not be imposed” for
non-compliance with directions issued by the RBI. The RBI has further added
after considering the bank’s reply, oral submissions, additional information
and documents, it concluded that the charge was substantiated and warranted
imposition of monetary penalty.
6.
SBI CUTS SAVING ACCOUNT RATE BY 0.5% ON BALANCE UP TO RS 1 CR
i.
State Bank of India has cut interest on savings account deposits by 50 basis
points to 3.5% on balance up to Rs 1 cr. The bank decides to continue 4%
interest on savings account balance of Rs 1 cr and above.
ii.
Revision of saving bank rate will enable the bank to maintain marginal cost of
fund based lending rate at existing rates.
7.
GOVERNMENT ENTERS INTO NINE UNILATERAL ADVANCE PRICING AGREEMENTS WITH INDIAN
TAXPAYERS
i.
The Central Board of Direct Taxes has entered into 9 Unilateral Advance Pricing
Agreements with Indian taxpayers.
ii.
The APA Scheme will provide certainty to taxpayers in the domain of transfer
pricing. It will specify the methods of pricing and determining the Arm’s
Length Price of international transactions in advance for a maximum period of
five future years.
iii.
The taxpayer has the option to rollback the APA for four preceding years, it
makes a total of nine years of tax certainty is provided. The international
transactions covered in these 9 APAs include provision of software development
services; provision of IT enabled services, provision of engineering design
services, distribution, contract manufacturing, etc.
iv.
CBDT has signed its first APA with a taxpayer engaged in supplying rigs used in
Oil & Gas exploration.
8.
INDIA BAGS 24 MEDALS AT JORDAN OPEN TT
i.
India has bagged total 24 medals at the Jordan Junior and Cadet Open table
tennis tournament. The event held in Amman the capital of Jordan.
ii.
The tally includes 7 Gold, 7 Silver and 10 Bronze medals. In the event India
was the 2nd best finishers.
iii.
Payas Jain had won silver after defeated by Hsu p-Hsuan.
iv.
Anargya Manjunath grabbed the singles crown defeating Taipei’s Cheng Pu-Syuan
in a needle final contest.
OBJECTIVE QUESTIONS BASED
ON TODAY’S NEWS
Q1.
A 2-DAY CONCLAVE OF TAX OFFICERS ENTITLED ‘RAJASWA GYANSANGAM’ WILL BE HELD IN?
a) New Delhi
b) Kolkata
c) Kochi
d) Chennai
Q2.
THE EXECUTIVE COMMITTEE OF NATIONAL MISSION FOR CLEAN GANGA IN ITS 4TH MEETING
HAS APPROVED SEVEN PROJECTS WORTH RS ______ CR IN THE SECTOR OF SEWAGE
INFRASTRUCTURE, GHAT DEVELOPMENT AND RESEARCH?
a) Rs 525 cr
b) Rs 425 cr
c) Rs 825 cr
d) Rs 625 cr
Q3.
WHICH BANK SLASHED INTEREST ON SAVINGS ACCOUNT DEPOSITS BY 50 BASIS POINTS TO
3.5% ON BALANCE UP TO RS 1 CR?
a) Indian Overseas Bank
b) Punjab National Bank
c) State Bank of India
d) ICICI Bank
Q4.
CENTRAL BOARD OF DIRECT TAXES ENTERED INTO HOW MANY UNILATERAL ADVANCE PRICING
AGREEMENTS WITH INDIAN TAXPAYERS IN THE MONTH OF JULY, 2017?
a) Seven
b) Six
c) Ten
d) Nine
Q5.
“JIYO PARSI PUBLICITY PHASE-2” TO REVERSE THE DECLINING TREND OF PARSI
POPULATION WAS LAUNCHED BY UNION MINISTER OF STATE (I/C) FOR MINORITY AFFAIRS
& PARLIAMENTARY AFFAIRS MUKHTAR ABBAS NAQVI IN?
a) Mumbai
b) Surat
d) Ahmedabad
ANSWERS:
1 - A 2 - B 3 - C 4
- D 5 - A
