Daily Current Affairs 24th January, 2017

Daily Current Affairs 24th January, 2017


Goa First State to Send Postal Ballots Electronically to Service Voters

  • The Chief Election Commissioner(CEC) of India, Syed Nasim Zaidi informed that the state government of Goa has opted for an initiative involving electronic transmission of postal ballot to service voters in the upcoming assembly polls.


Rescheduled Education Loan will not be Considered for Computing NPAs:RBI

  • In a bid to encourage banks to provide loans for education, the Reserve Bank of India RBI has declared that rescheduling the period of payment of education loans due to the inability of the borrower because of unemployment will not be treated as restructured accounts for computing NPAs.

Nepal Launches 10-year-plan to Reduce Depending on India for Vegetable Imports

  • In a move to decrease dependence on vegetable imports from India, the Nepal Government has launched a 10-year plan to boost domestic production.

IRDAI okays Swiss Re move to open Mumbai branch

  • Wholesale reinsurance provider Swiss Re has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a branch in the city.
  • With the composite branch license, Swiss Re will be able to operate in India and it can offer both non-life and life and health reinsurance solutions directly to clients and brokers in the country.

Utkarsh Micro Finance Launches its Small Finance Bank

  • Varanasi-based Utkarsh Micro Finance started operating its banking business as Utkarsh Small Finance Bank on January 23, 2017 to cater to the needs of the poor mainly in the northern belt.
  • UK’s Commonwealth Development Corporation (CDC) has infused Rs. 150 crore in the tier II capital in the company.
  • It is the third company to operate as small finance bank after Capital Small Finance Bankand Equitas Small Finance Bank all of which got final approval from RBI to operate banking business on November 28, 2016.

About Small Finance Banks

  • The Small Finance Banks model is for local players or niche players. Since objective behind establishment of such banks is to serve unbanked, marginal customers; they have been mandated to extend 75{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} of their credit to priority sector lending. Further, at least half of these loans should be below Rs. 25 Lakh.
  • The objective of small finance banks is to further financial inclusion by providing:
  1. Basic banking facilities to the unbanked and thereby boosting saving habits.
  2. Supply of credit to small business units, small and marginal farmers, micro and small industries and other unorganized sector entities, through high technology-low cost operations.
  • The RBI has not put any restriction on the operations of small finance banks. They are meant to provide basic banking facilities for the poor and small businessmen.
  • Small Finance Banks should have a minimum capital of Rs. 100 croreand maintain a capital adequacy of 15{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769}. Further, Minimum initial contribution of the promoter to the paid-up capital shall be 40{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} and they can bring down his holding to 26{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} in 12 years from commencement. RBI makes listing mandatory once the net worth reaches Rs. 500 crore.


National Girl Child Day to be celebrated today (24 January 2017)

  • National Girl Child Day will be celebrated at a special function in New Delhi in view of exemplary achievements by nation’s daughters during last year.
  • They presented commendable performance at the Olympics and Paralympics besides historic induction of the first batch of female fighter pilots into the Indian Air Force (IAF).
  • The occasion shall be marked by release of National Plan of Action for Children 2016.


Stamp Cover on Sindhu, Sakshi and Dipa ReleSakshi Malikased by Postal Department

  • The Indian postal department released a special stamp cover titled Golden girls of India – Pride of Nation on January 21, 2017 during a district-level philatelic exhibition in Agartala to honor the sporting personalities in the country.
  • The special covers feature the 2016 Olympic medalist gymnast Dipa Karmakar, shuttler PV Sindu and wrestler .
  • Moreover the cover also depicted the image of Dipa’s coach Bishweshwar Nandi who was awarded the 2016 Dronacharya award.


Siddhartha Murarka is the new ICSI Chairman

  • Siddhartha Murarka has been appointed as the Chairman of the Eastern India Regional Council of The Institute of Company Secretaries of India (ICSI).

Ola appoints former PepsiCo executive Vishal Kaul as COO

  • Transportation app Ola  has appointed former PepsiCo executive Vishal Kaul as its Chief Operating Officer.


Virat Becomes Fastest Batsman to Score 1000 Runs as ODI Captain

  • Virat Kohli became the fastest batsman in the world to score 1,000 runs as captain in One-Day Internationals (ODIs) on January 22, 2017 in the third ODI against England at the Eden Gardens.







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