Sunday, 1 January 2017

31st December Current Affairs

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Current Affairs are very important section asked in every competitive exams. Here, we're presenting you the 31st December Current Affairs.

Tax treaty with Singapore amended to bring parity with Cyprus, Mauritius
  • India has amended its over two-decade old tax treaty with Singapore that will allow it to tax capital gains on investments from the South East Asian nation, a significant milestone in plugging round-tripping of funds after changes to treaties with Mauritius and Cyprus. 
  • Short-term capital gains in India face tax at the rate of 15% while there is an exemption for long-term gains. 
  • A statement from Singapore government said the updated DTAA preserves the existing tax exemption on capital gains for shares acquired before 1April 2017, while providing a transitional arrangement for shares acquired on or after 1 April 2017.
Lionel Messi named World's Best Playmaker of 2016 by IFFHS
  • Five-time Ballon d'Or winner Lionel Messi was named the World's Best Playmaker for the second consecutive year by International Federation of Football History & Statistics (IFFHS). 
  • Messi topped the list with 172 points followed by Andres Iniesta (66 points) and Toni Kroos (45 points). Notably, this year's Ballon d'Or winner Cristiano Ronaldo does not feature in the list.
BITS students develop first aid app with Red Cross Society 
  • Six students from the Birla Institute of Technology and Science have developed a first-aid app in collaboration with the Indian Red Cross Society. 
  • The Android-based app contains instructions and information regarding medical emergencies. Other features include a one-tap call feature to connect with the National Emergency Helpline and using GPS on the phone to locate all the nearest hospitals.
Sindhu unveiled as official face of 2nd Int'l Kite Festival
  • Rio Olympics silver medal-winning shuttler PV Sindhu was unveiled as the official face of the 2nd International Kite Festival to be held from 12th to 17th January in Hyderabad. 
  • The festival is organized by Telangana Tourism and Incredible India, among others, to celebrate Sankranthi.
  • The state Tourism Minister Azmeera Chandulal was also present at the announcement ceremony.
7-year-old Kush creates history in Youth Chess Championship
  • Seven-year-old Kush Bhagat created history after winning three gold medals in the 1st Western Asia Youth Chess Championship in Al Ain Chess Club in UAE.
  • The 2nd class student from Mumbai became the only Indian to win in all three categories - rapid, blitz and standard - in the competition. 
  • Kush won against 158 participants from 20 different countries.
Sorin Grindeanu named Romania's new Prime Minister
  • Romania's President Klaus Iohannis on Friday named Sorin Grindeanu from the ruling Social Democrat party as the country's new prime minister.
  • Grindeanu now faces a confidence vote in parliament on his programme and cabinet nominees. Earlier, President Iohannis had turned down the party's first choice Sevil Shhaideh, an economist who would have become Romania's first female Muslim PM.
Institutionalization Of Arbitration Mechanism: Justice Srikrishna To Head The Committee
  • The Union Government has constituted a High Level Committee in the Ministry of Law and Justice to be headed by former Supreme Court Justice, BN Shrikrishna. 
  • According a press note published at the Press Information Bureau website, this committee will review the institutionalization of Arbitration Mechanism in India.
  • Apart from Justice(retd) BN Shrikrishna as its Chairman, the committee will comprise of another former Supreme Court judge RV Raveendran, Justice S. Ravindra Bhat of the Delhi High Court, Senior Advocate K.K. Venugopal, PS Narasimha, Additional Solicitor General of India, Senior Advocate Indu Malhotra, Araghya Sengupta, Director, Vidhi Centre for Legal Policy, a representative of Federation of Indian Chambers of Commerce and Industry (FICCI), a representative of Confederation of Indian Industry (CII) and Secretary, Department of Legal Affairs as its members.
  • The committee will look into various factors to accelerate arbitration mechanism and strengthen the arbitration ecosystem in the country. It will also examine specific issues and roadmap required to make “India a robust centre for international and domestic arbitration”
Central Board Of Direct Taxes Signs 2 Unilateral Advance Pricing Agreements
  • The Central Board of Direct Taxes or CBDT has signed two more unilateral advance pricing agreements (APAs) with Indian taxpayers as it looks to reduce litigation by providing certainty in transfer pricing.
  • The two APAs signed on Thursday pertain to the information technology and automobile sectors. The international transactions covered in these agreements include software development services, IT enabled services, manufacturing and business support services
  • With this, the total number of APAs entered into by the CBDT has reached 117. This includes 7 bilateral APAs and 110 Unilateral APAs.
State Bank of India ties up with Magicbricks.com
  • State Bank of IndiaBSE 0.89 %, the country’s largest bank has tied up with online classifieds portal magicbricks.com, to conduct joint marketing activites and help rejuvenate the real estate sector. 
  • To kick start the MOU, SBI and Magicbricks are launching the “Seal the Deal” campaign. Under Seal The Deal, SBI and Magicbricks will be hosting a mega online property show for SBI Approved Projects. This will be the first housing carnival in the industry at this scale. 
  • Seal The Deal will showcase SBI Approved Projects on the Magicbricks platform. Builders are expected to provide great deals for the same which will in turn provide the much needed fillip to the real estate sector.
Railway Minister Suresh Prabhu inaugurates six major Railway projects
  • Railway Minister Suresh Prabhu inaugurated six major Railway projects in Kerala including the dedication of the newly-built 9.6-km long Tiruvalla-Chengannur double line which would ease the heavy rail traffic congestion in the Ernakulam-Kottayam-Kayamkulam section.
  • Prabhu also inaugurated infrastructure facilities at Kozhikode, Palakkad, Thrissur and Thiruvananthapuram railways stations through video conferencing from Kozhikode.
  • A new platform was launched at Palakkad station, high-speed public WiFi service was made available at Thrissur station.
  • The minister also launched an escalator each in Thrissur and Thriruvananthapurtam stations besides laying foundation stone for the extension of Foot Overbridge at Kozhikode railway station.
  • Now the number of free wi-Fi enabled railway stations in the state has increasd to five.The service was launched earlier in Ernakulam, Thiruvananthapuram, Kollam and Kozhikode stations.
India, Singapore sign 3rd protocol for amending DTAA
  • India and Singapore have amended the Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income, by signing a Third Protocol on 30th December 2016.
  • This is in line with India’s treaty policy to prevent double non-taxation, curb revenue loss and check the menace of black money through automatic exchange of information, as reflected in India’s recently revised treaties with Mauritius and Cyprus and the joint declaration signed with Switzerland.
Cash withdrawal limit from ATMs increased to Rs 4,500 per day
  • In a major relief for the common man, Reserve Bank of India (RBI) has increased the daily limit of ATM withdrawal to Rs 4500 from current Rs 2500 with effective from January 1st, 2017
  • RBI in notification issued stated that there has been no change in the weekly withdrawal limit, which stands at Rs 24,000, including from ATM, for individuals and Rs 50,000 in case of small traders.
  •  It further said such disbursals will predominantly be in the denomination of Rs 500.
Anil Baijal Takes Oath As Delhi Lt Governor
  • Former bureaucrat Anil Baijal has taken oath as the Lieutenant Governor of Delhi on 31 December 2016.Anil Baijal is a retired Indian Administrative Service officer and is the 21st Lieutenant Governor of Delhi.His appointment came after Najeeb Jung's sudden resignation from the post.
General Bipin Rawat takes over as next Chief of Army Staff
  • General Bipin Rawat elected as the next Chief of Army Staff. General Rawat has tremendous hands on experience of serving in combat areas, and at various functional levels in the Indian Army over the last three decades.
  •  He has handled various operational responsibilities in many areas, including along the LoC with Pakistan, the LAC with China, and in the North-East.
Maharashtra sanctions Rs 2 crore for district-level sports complexes
  • Maharashtra government has sanctioned disbursement of two crore rupees for the district-level sports complexes for which Sports training department of every district will be disbursing the funds. Education and sports department issued a government resolution for sanctioned amount would be the same is Rs 5.06 crore, out of which 1.95 crore rupees had been sanctioned for disbursement.
SP chief Mulayam Singh expels UP chief minister Akhilesh Yadav, Ram Gopal Yadav from the party for 6 years
  • Samajwadi Party chief Mulayam Singh Yadav has expelled his son and Uttar Pradesh Chief Minister Akhilesh Yadav for six years for alleged anti-party activities, putting the state ruling party on the brink of a split ahead of assembly elections next year. 
  • Also expelled for six years on the same grounds is the patriarch's cousin Ram Gopal Yadav, a Rajya Sabha member. 
  • The rift in the party — with Mulayam and brother Shivpal Yadav on one side against the chief minister and Ram Gopal had come to the fore after separate election candidate lists were released by both camps. 
V K Sasikala takes charge as AIADMK General Secretary
  • In Tamil Nadu, V K Sasikala has taken charge as All India Anna Dravida Munnetra Kazhagam (AIADMK) general secretary.
  • She is the sixth person and the second woman to hold the post. 
  • Sasikala Natarajan is a close confidante of Jayalalithaa, the late Chief Minister of Tamil Nadu.
RBI extends period of enhanced Prepaid Payment Instruments limit
  • Reserve Bank of India has extended the period of enhanced Prepaid Payment Instruments (PPI) limit of Rs 20,000 as part of efforts to promote digital payments. 
  • Keeping in view that Bank is undertaking a comprehensive review of the guidelines and framework for PPI issuance in the country, it has been decided to extend the measures till the completion of review of the PPI guidelines.
Mother Dairy launches Aadhar-enabled payment system at booths
  • To promote cash less transactions, Mother Dairy Fruit & Vegetable Pvt Ltd today introduced Aadhar enabled payment system in more than 1,000 milk booths and ‘Safal’ retail stores. 
  • This service would now be available in addition to the existing modes like E-wallets and SmartChange Cards.
Romania's president appoints Sorin Grindeanu as the new Rome PM
  • Romania's president Klaus Iohannis has appointed Sorin Grindeanu as the country's new prime minister, the president's office announced. 
  • Grindeanu was proposed for the position by a government coalition comprising election winners Social Democrat Party (PSD) and junior partner Liberal-Democrat Alliance (ALDE). 
  • The president signed the decree of Grindeanu's appointment.

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