DAILY CURRENT
AFFAIRS: 20TH JAN 2017
(Daily News India)
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.