Current Affairs Dec 31 2017
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India to Host 10 ASEAN Leaders on Republic Day 2018.
- For the first time in India’s history would host leaders of 10 Asean countries as chief guests on 26th January 2018.
- The Republic Day will be celebrated with leaders of all 10 (Association of Southeast Asian Nations) ASEAN countries.
- This time, not one but 10 chief guests will grace the Republic Day.
The Indian Government gives Rs. 2,257 crores to Bank of India.
- The State-run Bank of India has received capital infusion of Rs. 2,257 crore from the government.
- Rs. 2,257 crore was received from the Government of India, in the form of Common Equity Tier-1 Capital, which is being kept as Share Application money and would be alloted after due procedure/ conditions for allotment.
- Union Government had unveiled a Rs. 2.11 lakh crore two-year roadmap for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.
Lok Sabha passed the Insolvency and Bankruptcy Code Bill, 2017.
- The bill disqualifies willful defaulters and existing promoters from bidding for assets of companies undergoing insolvency proceedings.
- High levels of NPA at present are due to window dressing and due to evergreening of loans.
- This situation has arisen because loans were restructured and not classified as NPAs.
- Problems were shoved under the carpet and these came to light because of the asset quality review initiated by RBI in 2015.
Important National Updates
National Current Affairs Dec 31 updates which are trending in the country.
GAIL orders another 400 km Gas pipeline.
- State-run Gas India Limited (GAIL) placed orders for another 400-km natural gas pipeline project under the ambitious Pradhan Mantri Urja Ganga (PMUG).
- With this, the total pipe supply orders for 2,100 km of Jagdishpur-Haldia & Bokaro-Dhamra Natural Gas Pipeline (JHBDPL) project have been placed.
Check out the latest trending business Current Affairs Dec 31 updates by reading the news.
China constructs world’s first Solar Highway.
- The project will serve as a clean energy test bed to evaluate new technologies, with an overarching goal to reduce the amount of land needed for solar farms and transmission wires.
- The panels, covering 5,875 square meters, can generate 1 million kWh of power in a year, enough to meet the everyday demand of around 800 households.
- Electricity produced by the test section will be used to power highway lights, signboards, surveillance cameras, tunnel and toll gate facilities.
- Surplus power will be supplied to the state grid. Future functions to be developed include mobile charging for electric vehicles and providing internet connection.
Department of Telecom to issue notices to recover 2,578 crores.
- Department of Telecom (DoT) will issue notices to five telecom operators, including Tata Tele services, Telenor and Reliance Jio, to recover Rs 2,578 crore.
- The DoT will raise the demand of Rs 2,578 crore from the five telecom operators after reconciling the accounts.
- According to Comptroller and Auditor General of India (CAG), Tata Teleservices, Telenor, Videocon Telecom, Quadrant and Reliance Jio have understated revenues by over Rs 14,800 crore, resulting in a shortfall of nearly Rs 2,578 crore to the government.
- The notices are expected to be sent to telecom operators in January.
SEBI to get a fourth whole time member.
- The finance ministry has accepted markets regulator SEBI’s request to have four whole time members, which will help broaden the leadership at the regulatory authority to discharge duties faster.
- The demand came in the wake of increased workload seen after Forward Markets Commission merged with Sebi in 2015.
- Currently, Sebi has two whole-time members — Madhabi Puri Buch and G Mahalingam — while Sanjeev Kaushik was appointed a whole-time member last month.
- Kaushik has handled the capital markets in the Department of Economic Affairs. He has also worked closely with the Sebi and Reserve Bank of India (RBI).
Dena Bank gets Rs. 243 crore from the government.
- State-run Dena Bank has received a capital infusion of Rs 243 crore from the government.
- The bank has received infusion of Rs 243 crore from the Government of India, towards the contribution of the central government in the preferential allotment of equity shares.
- Amount has been kept as share application money and would be issued after necessary approval/permissions.
- Bank said that the board approval for the same is already in place.
- The government had on October 24 unveiled a Rs 2.11 lakh crore two-year roadmap for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.
Current Affairs Dec 31 is bringing you with Records, titles and other updates from the world of sports.
Bengaluru FC defeats Kerala Blasters 3-1 in the Indian Super League.
- Skipper Sunil Chettri and the prolific Miku struck twice as Bengaluru FC thrashed Kerala Blasters 3-1 in an Indian Super League match, in Kochi.
- While, Courage Pekuson scored the lone goal for the Blasters.
- Bengaluru is now in the third position on the table and in touching distance of league leaders Chennaiyin FC.
- The Blues could have easily scored more goals if not for some heroic goalkeeping by Subhasish Roy.
- The second half began much like the first, but 10 minutes later, a hand-ball by Sandesh Jhingan gave Bengaluru a chance to take the lead from the spot, while Chettri took the responsibility and and scored.
India: top ranked test team in 2017.
- Led by skipper Virat Kohli, India extended it’s unbeaten run to nine consecutive Test series to be the number 1 test team.
- Kohli’s men defeated Bangladesh in a one-off Test by 208 runs with the skipper himself slamming a double hundred in the match.
- India won the 4-match series by 2-1 against Australia.
- India then travelled to Sri Lanka in August for a 3-match Test series which they won by a clean sweep, and then again won a series against Sri Lanka at home in December.
- As per the latest ICC rankings issued on December 28, 2017, India will end 2017 as No.1 Test team in the world.
- South Africa is at the second position with 111 points, just 13 points behind India. England, New Zealand and Australia, end the year at 3rd, 4th and 5th place respectively.
- In One-Day Internationals (ODIs), South Africa is at 1 position while, India is behind at No. 2 position, missing out on the top spot by just a point.
- The remaining 3 teams are by Australia, England and New Zealand, respectively.
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