DOWNLOAD PDFCURRENT AFFAIRS 18th Dec., 2014
1. Reserve Bank of India has imposed a monetary penalty on ICICI Bank (Rs.50 lakh) and Bank of Baroda (Rs.25 lakh) for violation of its instructions on Know Your Customer (KYC) and anti-money laundering (AML) norms. Some fraudsters had managed to open fictitious accounts in the name of a statutory organisation in these banks and operated the accounts of which they were not the rightful owners without being detected by the banks.
2. . Microsoft India Chairman Bhaskar Pramanik said Microsoft will start a pilot project of its ‘White-Fi’ technology that uses the unused spectrum in frequencies used for broadcasting of television signals. It is likely to offer solution to tackle the problem of last mile broadband connectivity in the country.
3. . Asian Development Bank has said that India is on track to achieve projected 5.5 per cent economic growth rate in 2014-15 and declining oil prices globally present a golden opportunity for many beneficial reforms in its subsidy programmes.
4. . Government has awarded a critical power transmission corridor project to Power Grid Corporation. The power transmission connects power-starved southern states to thermal power rich, western India.
5. . RBI has eased the account opening process of multilateral organisations, of which India is a member nation. It was done as banks were frequently coming across cases related to opening of accounts for multilateral organisations, of which India is a member nation.
CURRENT AFFAIRS 17th Dec., 2014
1. McKinsey Global Institute (MGI) in a report titled India’s technology opportunity: transforming work, empowering people has identified 12 new age technologies ranging from mobile Internet to cloud computing to advanced genomics that could have a bigger impact on India’s economic growth and efforts to reduce poverty. These technologies can add $550 billion to $1 trillion a year of economic value by 2025.
2. Union Finance Minister Arun Jaitley will seek the Cabinet’s approval for the 122nd Constitutional Amendment Bill on the Goods and Services Tax. The draft Bill guarantees compensation to States for losses of revenues owing to the transition to the GST. It did not take the Empowered Committee of State Finance Ministers position which had by consensus rejected the Centre’s draft Constitutional Amendment Bill.
3. A study by Global Financial Integrity (GFI) shows that the total illicit financial outflows from India between 2003 and 2012 were $439 billion —$94.8 billion of that in 2012 alone. India is ranked fourth after China, Russia and Mexico on the list of the world’s biggest exporters of illicit financial flows from 2003 to 2012.
4. Union Home Minister Rajnath Singh disclosed that IS terror group has been banned in India. The group has been proscribed under the provisions of the UAPA that relates to organisations listed in the Schedule to the U.N. Prevention and Suppression of Terrorism (Implementation of Security Council Resolutions) Order, 2007.
5. 37-year-old Indian-American Vivek Murthy has become the youngest-ever US Surgeon General after being confirmed by the Senate. He will be the first Indian-American to serve in the role.
1. Reserve Bank of India has imposed a monetary penalty on ICICI Bank (Rs.50 lakh) and Bank of Baroda (Rs.25 lakh) for violation of its instructions on Know Your Customer (KYC) and anti-money laundering (AML) norms. Some fraudsters had managed to open fictitious accounts in the name of a statutory organisation in these banks and operated the accounts of which they were not the rightful owners without being detected by the banks.
2. . Microsoft India Chairman Bhaskar Pramanik said Microsoft will start a pilot project of its ‘White-Fi’ technology that uses the unused spectrum in frequencies used for broadcasting of television signals. It is likely to offer solution to tackle the problem of last mile broadband connectivity in the country.
3. . Asian Development Bank has said that India is on track to achieve projected 5.5 per cent economic growth rate in 2014-15 and declining oil prices globally present a golden opportunity for many beneficial reforms in its subsidy programmes.
4. . Government has awarded a critical power transmission corridor project to Power Grid Corporation. The power transmission connects power-starved southern states to thermal power rich, western India.
5. . RBI has eased the account opening process of multilateral organisations, of which India is a member nation. It was done as banks were frequently coming across cases related to opening of accounts for multilateral organisations, of which India is a member nation.
CURRENT AFFAIRS 17th Dec., 2014
1. McKinsey Global Institute (MGI) in a report titled India’s technology opportunity: transforming work, empowering people has identified 12 new age technologies ranging from mobile Internet to cloud computing to advanced genomics that could have a bigger impact on India’s economic growth and efforts to reduce poverty. These technologies can add $550 billion to $1 trillion a year of economic value by 2025.
2. Union Finance Minister Arun Jaitley will seek the Cabinet’s approval for the 122nd Constitutional Amendment Bill on the Goods and Services Tax. The draft Bill guarantees compensation to States for losses of revenues owing to the transition to the GST. It did not take the Empowered Committee of State Finance Ministers position which had by consensus rejected the Centre’s draft Constitutional Amendment Bill.
3. A study by Global Financial Integrity (GFI) shows that the total illicit financial outflows from India between 2003 and 2012 were $439 billion —$94.8 billion of that in 2012 alone. India is ranked fourth after China, Russia and Mexico on the list of the world’s biggest exporters of illicit financial flows from 2003 to 2012.
4. Union Home Minister Rajnath Singh disclosed that IS terror group has been banned in India. The group has been proscribed under the provisions of the UAPA that relates to organisations listed in the Schedule to the U.N. Prevention and Suppression of Terrorism (Implementation of Security Council Resolutions) Order, 2007.
5. 37-year-old Indian-American Vivek Murthy has become the youngest-ever US Surgeon General after being confirmed by the Senate. He will be the first Indian-American to serve in the role.
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