Daily Current Affairs 1st January, 2017

Daily Current Affairs 1st January, 2017


Key announcements of PM Narendra Modi’s new year eve’s speech

  • In his address, he announced a number of welfare sops to help the poor, the rural sector, small businesses and other citizens to lighten the burden of demonetization.


Big push for housing for rural and urban poor –

  • To make it easier for the poor to buy their own homes, PM launched two new housing schemes for the urban poor. –
  • Under Pradhan Mantri Aawaz Yojana (PMAY), the poor and middle class in cities will get 4 percent exemption on interest for home loans up to Rs 9 lakh. –
  • 3 percent exemption for home loans up to Rs 12 lakh. – Under PMAY, 33 percent more houses will be built in villages. –
  • Also, home loans up to Rs 2 lakh will get 3 percent exemptions for not just building a new house but also for renovation in villages.

The grass is greener for the farmers –

  • 3 crore Kisan credit cards will be converted into RuPay cards in 3 months. – Government will bear 60 days interest on select farm loans.
  • Last month, NABARD created a fund of Rs 21000 crore. Modi today announced that the government is adding Rs 20,000 crore more to this.
  • The loss that NABARD will suffer by giving loans to cooperative banks and societies at low interest rate shall be borne by the government.

Happy new year for MSMEs  

  • Credit guarantee for small businesses doubled to Rs 2 crore.
  • Banks have been asked to raise cash credit limit for small business to 25 percent from 20 percent.
  • Banks have also been asked to increase working capital loans from 20 percent of turnover to 30 percent for enterprises that transact digitally.

Sops for women and elderly –

  • Pregnant women to get Rs 6,000 in bank accounts to reduce child, woman mortality.  Guarantee of 8 percent rate on deposits for senior citizens up to Rs 7.5 lakh.


Union government and the World Bank signed a $50-million credit agreement to improve employement oppurtunity under Nai Manzil scheme

  • The Union government and the World Bank signed a $50-million credit agreement for a project aimed at helping young people from minority communities complete their education and improve their employment opportunities named Nai Manzil Scheme.
  • The Nai Manzil Scheme is designed as an integrated education and training programme that provides youth from minority communities skills needed for different tasks in a rapidly changing world.

Iran’s leading banks will soon open branches in India

  • Iran’s leading banks will open branches in India to energise commercial ties between New Delhi and Tehran.
  • A major beneficiary of normalisation of banking channels between two sides will be India which has just begun settling more than $6.5 billion energy-related pending payment, with Iran

RBI asked the banks to open banks in villages with a population of more than 5000:Banks have to submit the roadmap by end of January 2017.

  • India’s central bank has asked the lenders to open more brick and mortar branches in villages with no banking facilities and with a population of more than 5,000. The banking regulator has asked banks to submit a roadmap on how many branches they will be opening by 31 March 2017.
  • This will also enable banks to provide quality financial services and timely support to Banking correspondant outlets that would help in sustaining and strengthening the services provided through BCs and also ensure close supervision of BC operations.


Indo-Israeli LR Sam Test Fired Aboard INS Kolkatta

  • The Indo-Israeli jointly built Long Range Surface to Air Missile (LR SAM), which is also called Barak-8, was test fired Dec. 29 and 30 aboard an Indian Navy’s Kolkata class destroyer, which will escort the aircraft carrier INS Vikramaditya from Russia.
  • It successfully intercepted an aerial target at extended ranges.
  • The test-fire was jointly carried out by the Indian Navy, Defence Research and Development Organisation (DRDO) and Israel Aerospace Industries.
  • Barak-8, with a range of 70 kilometers, is capable of protecting naval ships from multiple targets, including enemy aircraft, missiles and rockets.
  • Once airborne, the missile continues to receive data from the radar system, which predicts the threat’s trajectory, and enables the missile to adjust its own path before destroying the target


Harpal Singh Kumar received Knighthood from Queen Elizabeth II

  • An Indian-origin cancer research expert Harpal Singh Kumar received a Knighthood from Queen Elizabeth II for his influential work on prevention and treatment of cancer.
  • His name appeared in the annual New Year’s Honours list that includes several other Indian-origin individuals.


Ashwin becomes the no.1 Test Bowler

  • Star India off-spinner Ravichandran Ashwin ended 2016 as the No. 1 Test bowler in the ICC rankings issued on the back of his strong showing against South Africa in the recent home series.

Indian Test captain Virat Kohli named ‘BCCI Cricketer of the Year’

  • Indian Test captain Virat Kohli was named ‘Cricketer of the Year’, while Mithali Raj was picked for the M.A. Chidambaram Trophy for the best women’s cricketer.

Magnus Carlsen won the Qatar Masters Open chess tournament

  • World champion Magnus Carlsen of Norway won the Qatar Masters Open chess tournament, billed as the strongest Open in history.








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