Monday , March 27 2023

GK Update 30th December 2017

By: D.K Chaudhary

1. Triple Talaq Bill Passed in Lok Sabha
i. The Lok Sabha passed the Muslim Women (Protection of Rights on Marriages) Bill 2017 making instant triple talaq illegal with up to three years in jail for the husband. The bill was passed by the Minister for Law and Justice Ravi Shankar Prasad.
ii. The bill will now be sent to the Rajya Sabha for passage before it is forwarded to the President for signing it into law.
  • The Muslim Women (Protection of Rights on Marriages) Bill 2017 bill seeks to make instant triple talaq in any form spoken, in writing or by electronic means such as email, SMS and WhatsApp as bad or illegal and void.
2. India Signs Loan Agreement with World Bank for UP Tourism Project
i. An agreement for IBRD Credit of USD 40 Million from World Bank for “U.P. Pro-Poor Tourism Development Project” was signed between India and the World Bank.

ii. The programme duration is 5 years. The Project Objective is to increase tourism-related benefits for local communities in targeted destinations. The major districts under attractions in Uttar Pradesh are Agra, Mathura, Vrindavan, Barsana and Govardhan in the Braj region.

  • IBRD- International Bank for Reconstruction and Development.
  • World Bank President- Jim Yong Kim (12th), Headquarters- Washington DC, USA.
3. Small Savings Schemes’ Interest Rates Cut by 20 bps
i. The government slashed interest rates on small savings schemes, including National Savings Certificate (NSC) and  Public Provident Fund (PPF), by 0.2 percentage point for the January-March period from the rates applicable in the previous quarter. This will prompt banks to lower deposit rates.

ii. As per the finance ministry notification, rates have been reduced across the board for schemes such as National Savings Certificate (NSC), Sukanya Samriddhi Account, Kisan Vikas Patra (KVP) and Public Provident Fund (PPF). However, interest on savings deposits has been retained at 4 percent annually.
Here is the complete list of schemes with Annual rate of interest-

S. No. Instrument Annual Rate of Interest
(in %)
1. National Savings Certificate (NSC) 7.6
2. Sukanya Samriddhi Account 8.1
3. Kisan Vikas Patra (KVP) 7.3
4. Public Provident Fund (PPF) 7.6
5. Senior Citizens Savings Scheme 8.3
6. Savings Deposit 4
7. 5 Years Recurring Deposit 6.9
4. Bank of Baroda Enters into MoU with POORTI Agri Services Pvt. Ltd
i. Bank of Baroda has entered into MoU with POORTI Agri Services Pvt. Ltd to enable the farmers to purchase agricultural inputs such as fertilizers, pesticides, seeds etc. provided by POORTI.
ii. This is a Platform for Online Ordering & Rural Transformation of India known as “POORTI”.
  • Bank of Baroda Chairman- Ravi Venkatesan, Managing Director & CEO- P.S.Jayakumar.
5. India Ranks 5th in List of Countries with Highest NPA Levels
i. India has the highest level of non-performing assets (NPA) among BRICS countries and is ranked fifth on a list of countries with the highest levels of NPAs, as per the report by CARE Ratings.

ii. The only countries ranked higher than India on the list are Greece, Italy, Portugal, and Ireland. All these countries, along with Spain, are commonly referred to as PIIGS and have been victims of sovereign debt crises in recent years.
iii. At 9.85 percent, India’s NPA ratio is over 400 basis points higher. Spain is the only PIIGS country ranked lower than India on the list, with an NPA ratio of 5.28 percent.

  • PIIGS includes Portugal, Italy, Ireland, Greece, and Spain.

About D.K Chaudhary

Polityadda the Vision does not only “train” candidates for the Civil Services, it makes them effective members of a Knowledge Community. Polityadda the Vision enrolls candidates possessing the necessary potential to compete at the Civil Services Examination. It organizes them in the form of a fraternity striving to achieve success in the Civil Services Exam. Content Publish By D.K. Chaudhary

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