Current Affairs 7th January 2018 - Banking, SSC, UPSC Affairs

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The Pension Fund Regulatory and Development Authority of India (PFRDA) announced that Atal Pension Yojana (APY) run by it has reached a subscriber base of 80 lakh and is growing at good pace. Uttar Pradesh is the highest contributing state at 11.41 lakh APY subscribers, followed by Bihar (8.87 lakh) and Tamil Nadu (6.60 lakh). It is available to all citizens of India in the age group of 18-40 years (thus the minimum period of contribution by the subscriber is 20 years). There is no exit to the scheme before the age of 60.

According to Reserve Bank of India (RBI), India’s foreign exchange (Forex) reserves have scaled to a fresh record high of $409.366 billion as on December. The forex is reserve assets held by a central bank in foreign currencies. It acts as a buffer to be used in challenging times and used to back liabilities. Almost all countries in the world, regardless of the size of their economy, hold significant foreign exchange reserves. The components of India’s FOREX Reserves include Foreign currency assets (FCAs), Gold, Special Drawing Rights (SDRs) and RBI’s Reserve position with International Monetary Fund (IMF). FCAs constitute the largest component of Indian Forex Reserves.

The Gross Enrolment Ratio (GER) in higher education of Indian has registered an increase from 24.5% in 2015-16 to 25.2% in 2016-17 according to latest All India Higher Education Survey (AIHES) released by HRD Ministry. The survey findings were based on responses from 795 universities, 34,193 colleges, and 7,496 standalone institutions. There is a total of 864 universities,40,026 colleges, and 11,669 standalone institutions in the country. Gross Enrolment Ratio (GER): GER is a statistical measure for determining a number of students enrolled in undergraduate, postgraduate and research-level studies within the country and expressed as a percentage of the population. India is aiming to attain GER of 30% by 2020, but it is still far behind countries.

Three Ministries namely Ministry of Railways, Ministry of Human Resource Development (HRD) and Ministry of Science & Technology have signed Memorandum of Understanding (MoU) for joint funding of Technology Mission for Indian Railways (TMIR). The MoU aims to facilitate co-financing of (TMIR) by investment sharing for identified railway projects for applied research. Indian Railways will be benefitted with the availability of world-class indigenized technologies at very reasonable cost through this consortium approach.

Paytm Payments Bank partnered Induslnd Bank to introduce a facility to create a fixed deposit (FD) when the customer balance exceeds Rs. 1 lakh at the end of the day. Paytm Payments Bank customers can redeem their deposits instantly, anytime without paying any pre-closure or miscellaneous charges and can earn up to 6.85 percent annual interest.

Income Tax Department launched an online chat service on its national website www.incometaxindia.gov.in. This is aimed at facilitating the taxpayers resolve their queries. A customer support executive having expertise in tax-related matters helps the users in resolving their queries online. Giving this information in the Lok Sabha, Minister of State for Finance, Shiv Pratap Shukla said, altogether 8,424 people have benefited from this service. The facility is available on all working days from Monday to Friday between 10 AM and 6 PM. The module can also be accessed through a mobile application called ‘AayakarSetu’ on Android phone.

Minister of state for youth affairs, sports and Information and Broadcasting that government created a Positive environment and ecosystem to promote entrepreneurship. Taking part in a panel discussion on Right Ecosystem for extraordinary Growth of MSME in Jaipur today, the minister said that Government is providing funding to micro, medium and small industry in large scale to create a positive environment. He said that government spent 3.7 lakh crore rupees on funding through MUDRA. Mr. Rathore said that Indian economy is going in a positive direction.

Prime Minister Narendra Modi will attend the Annual Conference of DGPs and IGPs after at the BSF Academy at Tekanpur in Madhya Pradesh.  DGPs Conference is an annual event in which top police officers from all over the country share and discuss security-related issues. He had addressed the conference earlier in Guwahati in 2014, Dhordo, Rann of Kutch, Gujarat in 2015 and National Police Academy, Hyderabad in 2016.  During the last meeting, issues such as cross-border terrorism and radicalization were discussed in detail. The Prime Minister had emphasized the importance of leadership, soft skills and collective training. He specifically mentioned the importance of technology and human interface for the police force.

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    Topics covered in the 7th January 2018 Current Affairs are
  • International News,
  • National News (ie. Indian Affairs),
  • important events associated with Science & Technology, Environment,
  • Bills & Acts Passed by Government,
  • Defence News,
  • About important Persons, Places,
  • Banking & Economical News,
  • Awards & Honours,
  • Sports News,
  • Revolutionary Updates on Arts & Culture,
  • Obituary,
  • Summits & Conference,
  • Important Committee,
  • Schemes,
  • Appointments,
  • Important Days & its Theme for Current as well as upcoming Year,
  • Books & Its Authors,
  • Agreements & MoUs,
  • Budget, Taxes,
  • Various Important Lists & Indexes,
  • Visits by World Presidents, Prime Ministers,
  • Political affairs and all Current News.

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