Daily Current Affairs 7th January, 2017

Daily Current Affairs 7th January, 2017



India and Kazakhstan sign Protocol to amend the Double Taxation Avoidance Convention (DTAC)

  • India and Kazakhstan have signed a Protocol to amend the existing Double Taxation Avoidance Convention (DTAC) between the two countries
  • It was earlier signed on 9th December, 1996 for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income.
  • The Protocol inserts a Limitation of Benefits Article, to provide a main purpose test to prevent misuse of the DTAC and to allow application of domestic law and measures against tax avoidance or evasion.

India, Portugal sign six agreements

  • India and Portugal have signed six memorandum of understandings (MoUs) including in defence cooperation.
  • These agreements were signed after delegation level talks Prime Minister Narendra Modi and his visiting Portugal counterpart António Costa who is chief Guest of 2017 Pravasi Bharatiya Divas.

Six agreements signed are :-

  • MoU on Defence.
  • MoU in the Agriculture and Allied Sectors.
  • MoU on Marine Research and Resources.
  • MoU on Renewable Energy.
  • MoU in the field of Information Technology and Electronics.
  • MoU on the establishment of an ICCR Chair of Indian Studies in University of Lisbon

About Portugal

  • Capital and largest city -Lisbon
  • Official languages -Portuguese
  • Recognised regional languages -Mirandese
  • Currency               -Euro

Bill targeting H1B visas reintroduced in US Congress

  • A bill to curb the use of H-1B visas, on which the Indian IT sector is particularly dependent, has been introduced in US congress.
  • The H1-B visa is a non-immigrant visa given by the United States to employ skilled workers from other countries for various specialised fields of occupation for a certain period of time.
  • The new bill would require workers on the H-1B visa pay a minimum of $100,000, up from $60,000 currently.
  • The bill also removes the Master’s degree exemption to the cap on the number of visas available.
  • The Bill prohibits companies from hiring H1-B employees if they employ more than 50 people and more than 50{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} of their employees are H1-B and L-1 visa holders.

China launches longest high-speed train service ‘Shangri-la of the World’

  • China has launched its longest high-speed train service from Kunming capital of south-west China’s Yunnan Province to Beijing.

Gen. Raheel Sharif to head Islamic Military Alliance

  • Pakistan’s former Army chief Gen. Raheel Sharif (retired) was appointed head of Islamic Military Alliance to Fight Terrorism (IMAFT), a Saudi Arabia-led military coalition of 39 nations.

About Islamic Military Alliance to Fight Terrorism (IMAFT)

  • It is an intergovernmental military alliance of multiple Muslim Countries, united around military intervention against ISIL and other counter-terrorist activities.
  • The IMA is based at a joint command center in Riyadh, Saudi Arabia
  • Headquarters -Riyadh, Saudi Arabia
  • Location     -Africa,Middle East,South Asia
  • Official language -English, Arabic
  • Commander-in-Chief


RBI to provide 1 billion to Nepal:

  • The Reserve Bank of India (RBI) has agreed to provide Rs 1 billion to the Nepal Rastra Bank (NRB) after its request that the country was facing a shortage of INR 100 denomination banknotes.


Road ministry to launch e-challan, m-parivahan apps

  • The ministry of road transport and highways is set to launch two mobile apps—e-challan and m-parivahan—next week to provide a comprehensive digital solution for enforcement of traffic rules.
  • m-parivahan is a citizen-centric app that will facilitate access to various transport-related services.
  • The apps would be released by transport minister Nitin Gadkari during the 28th Road Safety Week from 9-15 January.


  • m-parivahan will provide a virtual driving licence and registration certificates through back-end connection to the transport national register.
  • In this application, if a vehicle number is entered into the app, it will give full details of the car and the owner, including his driving licence and registration certificate.
  • The app will also facilitate “good Samaritans” through technology.
  • People can also report traffic violations.


  • e-challan will help in improving transparency by connecting all stakeholders through a common system and ensuring data integrity.
  • It will also help in easing operations and efficient monitoring through digitization of records and will enhance the visibility of offenders, leading to better traffic management.



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