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Jan
Dhan Yojana makes it to the Guinness Book of World Records
Economy
> Jan-Dhan
Yojana > Jan 21
India's effort of opening
15.45 crore bank accounts to transfer subsidies in a short span of
five months is now a world record and will feature in the Guinness
Book of World Records. The Pradhan Mantri Jan-Dhan Yojana (PMJDY),
launched by Prime Minister Narendra Modi in August, has set a world
record for 'The most bank accounts opened in one week' – about 1.80
crore. The government plans to transfer annual subsidies of around
Rs. 51,029 crores directly to bank accounts of 15.45 crore
beneficiaries in the next year as a part of the financial inclusion
campaign. The government has rolled out 34 direct transfer benefit
welfare schemes including the Mahatma Gandhi National Rural
Employment Guarantee Scheme (MGNREGS) and the direct benefits
transfer for LPG scheme.
PM
launches Sukanya Samridhi Yojana under the Beti Bachao Beti Padhao
campaign
Politics
and Government >
Beti Bachao Beti
Padhao Campaign > Jan 23
On the 22nd of January, 2015
Prime Minister Narendra Modi launched a deposit scheme 'Sukanya
Samridhi Yojana' under the Beti Bachao Beti Padhao (BBBP) campaign
for the girl child. It will enable parents to open bank accounts for
girls under the age of ten, which will ensure an equitable share of
family resources for the girl child. The benefits of the Sukanya
Samridhi Account are – an interest rate of 9.1 percent per annum
and a rebate in income tax. The account can be opened any time after
the birth of the girl, till the time she turns 10. The minimum amount
to open the account is Rs. 1000. The account will be in operation
till 21 years after the date of opening or till the time of the
girl's marriage. Provision for higher education permits the
withdrawal of 50% of the account balance after the girl completes 18
years of age. A maximum deposit of Rs. 1.5 lakh will be permitted in
one financial year.
The Harayana government has
roped in famous Bollywood actor Madhuri Dixit-Nene as the brand
ambassador for the campaign. Haryana has one of the worst gender
ratios in the country.
National
Girl Child Day celebrated on 24 January
India
> National
Girl Child Day > Jan 24
National Girl Child Day was
observed on 24 January 2015 across India. This day is being observed
annually since 2008 to increase awareness among people about all the
inequalities faced by the girl child in society. The National Girl
Child Day was developed as a national girl’s development mission
that will offer support and new opportunities to the girls of the
country. The mission spreads awareness about the empowerment of girl
child in India. Ministry of Women and Child Development has been
taking initiatives to address and reverse the trend of declining
child sex ratio in the country. The objective of all these
initiatives is to work towards ensuring that girls are born, loved
and nurtured and grow up to become empowered citizens of this country
with equal rights and opportunities.
India
celebrated its 66th Republic day with US President Barack Obama as
the chief guest
India
> 66th
Republic Day > Jan 27
India celebrated its 66th
Republic Day on Monday, 26th of January, 2015 before its chief guest
US president, Barack Obama at Rajpath, New Delhi. Arrangements were
made to ensure an incident-free Republic Day celebration and
fool-proof security to the American President was provided. The event
saw a splendid display of India's military might and cultural
diversity. The highlights of the events were – the BSF daredevils'
formation of a human pyramid on moving motorbikes, a march-past of
all-female units of the army, navy and air-force, tribal and folk
dances of different states of the country showcasing unity in
diversity and the display of long-range maritime surveillance and
anti-submarine P-8I aircraft and the long-range advanced MIG-29K
fighter plane. The parade was concluded by a spectacular fly-past by
the Indian Air-force that left a smoke-trail of the saffron, white
and green representing the Indian national flag.
Others
Union
Government launched National Heritage Development and Augmentation
Yojana (HRIDAY)
Government
and Politics >
HRIDAY > Jan 21
With an aim to preserve and
rejuvenate the rich cultural heritage of India, the Union Ministry of
Urban Development recently launched the National Heritage Development
and Augmentation Yojana (HRIDAY).
HRIDAY will focus on
maintenance of monuments and advancement of the entire ecosystem.
Under this scheme the Union Government is set to provide 500 crore
rupees to 12 heritage cities for developmental activities. The funds
will also be utilised for setting up facilities around the heritage
sites to attract more tourists.
RBI
asks banks to display loan interest rates on websites
Bank
Specific >
Loans > Jan 22
In a move aimed at bringing
in more transparency in the banking sector, the Reserve Bank of India
(RBI) has asked banks to display interest rate range of contracted
loans for the past quarter and processing fees on their websites from
April 1st. Banks have been also asked to publish Annual Percentage
Rate (APR) or such similar other arrangement of representing the
total cost of credit on a loan to an individual borrower on their
websites so as to allow customers to compare the costs associated
with borrowing across products and lenders. The RBI has also asked
banks to provide a clear, concise, one page key fact statement, in a
prescribed format, to all individual borrowers at every stage of the
loan processing as well as in case of any change in any terms and
conditions.
SBI
signs 100 million Euro loan agreement with European Investment Bank
Bank
Specific >
SBI > Jan 23
State Bank of India has
signed a loan agreement for 100 million euro (about Rs 700 crore)
with European Investment Bank (EIB) for lending to private businesses
in India. This is the third tranche of a total sanctioned loan of 200
million euro by EIB. SBI has said that the loan will be utilized to
support the development of private sector, in particular small and
medium-sized enterprises ( SMEs), social and economic infrastructure
as well as climate change mitigation and adaptation in the country.
King
Abdullah bin Abdulaziz of Saudi Arabia passes away, half-brother
Salman becomes new ruler
World
> Saudi
Arabia > Jan 23
Saudi Arabia's King Abdullah
bin Abdulaziz died on Friday leaving the throne to his half-brother,
Salman. Before becoming the king of Saudi Arabia in 2006, he had run
the country as de facto regent for a decade until the demise of
predecessor King Fahd. Abdullah introduced cautious changes in the
conservative Islamic kingdom including increased women's rights and
economic deregulation, but made no moves towards democracy and was a
hawk on policy towards rival Iran. Abdullah also played a crucial
role in backing Egypt's military when it ousted its President Bashar
al-Assad.
With the appointment of
Salman as king amidst the unprecedented turmoil across the Middle
East, the future direction of the United States' most important Arab
ally and self-appointed champion of Sunni Islam is at risk.
RBI
simplifies procedure for External Commercial Borrowings policy
Bank
Specific >
External
Commercial Borrowings > Jan 24
The
Reserve Bank of India (RBI) simplified the procedure for External
Commercial Borrowings (ECB) on the 23rd
of January, 2015. Under the new procedure, banks have been given more
authority to make changes in the draw-down and repayment schedules of
an ECB, raised under either the automatic or approval routes.
However, foreign currency convertible bonds will not be covered under
this provision. The changes are related to the average maturity
period and the all-in-cost. Banks will also have the power to allow
the transfer of ECBs from one company to another.
24
awardees receive National Bravery Awards from Prime Minister Modi
Awards
> Bravery
Awards > Jan 24
8 girls and 16 boys were
presented with National Bravery Awards 2014 by Prime Minister
Narendra Modi on 24 January 2015. The recipients will receive a
medal, certificate and cash incentive along with an opportunity to
participate in the Republic Day Parade. Those undertaking
professional courses such as engineering and medicine will receive
financial assistance from Indian Council for Child Welfare (ICCW)
under Indira Gandhi Scholarship Scheme. Some seats of medical and
engineering colleges and polytechnics have also been reserved for
them by the government. The selection was made by a powerful
committee comprising representatives of various
Ministries/Departments, non-governmental organisations as well as
Office Bearers of ICCW.
The National Bravery Awards
was initiated by ICCW in 1957 to encourage brave children and
acknowledge their meritorious service.
Recipients
of Padma Awards announced
Awards
> Padma
Awards > Jan 25
The Padma Awards recipients
were announced by the NDA government recently. Notable personalities
like BJP stalwart LK Advani, actors Amitabh Bachan and Dilip Kumar,
Punjab Chief Minister Prakash Singh Badal and Nuclear scientist M R
Srinivasan are among the nine awardees to receive Padma Vibhushan,
the highest in the series of Padma Awards, for exceptional and
distinguished service.
The Padma Award is one of
the highest civilian Awards of the country. It is conferred in three
categories, namely, Padma Vibhushan, Padma Bhushan and Padma Shri.
The Awards are given in various disciplines – art, social work,
public affairs, science and engineering, trade and industry,
medicine, literature and education, sports, civil service, etc.
Miss
Columbia Paulina Vega wins Miss Universe title
Awards
> Miss
Universe > Jan 26
Miss Colombia, Paulina Vega,
emerged the winner of Miss Universe title beating out first runner-up
Miss USA Nia Sanchez and contestants from more than 80 other
countries at Sunday's pageant in Miami. After the reigning Miss
Universe Gabriela Isler from Venezuela, Vega will be the second
Latina to win the title. A 22-year-old student of business
administration from Barranquilla, Colombia, Vega looks forward to
returning to her business studies with a view to start her own
company in future. Besides Columbia, she had also garnered support
from local Latinos during the pageant. As Miss Universe, she will
receive an undisclosed salary, a luxury apartment in New York, a
wardrobe and oodles of beauty products, and a one-year scholarship
from the New York Film Academy.
Obama
pledges investment of $4 billion and fast-tracking of Civil Nuclear
deal
World
> Indo-US > Jan 27
The Civil Nuclear deal,
between India and the United States of America, which was signed in
the year 2006, gained momentum after a hiatus of eight years. The
deadlock pertaining to the deal existed due to the concern in case of
a nuclear casualty. The two countries have now decided to transfer
the financial risk to insurers in case of an accident. The last step
for India now would be to rope in American suppliers selling reactor
technology. President Barack Obama also promised $4 billion in loans
and investment to boost trade, business and employment opportunities
in India. US Export-Import Bank will finance $1-billion worth of
exports, Overseas Private Investment Corporation will lend $1 billion
to small, medium-sized enterprises in rural areas of India and the US
Trade and Development Agency would finance $2 billion for renewable
energy in India.
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