BFSI & Economy
- To cut costs as part of a turnaround plan, the Bank of India is going to shut 400 ATMs. The bank is planning to shut another 300 more ATMs by the end of February.
- The government today cut the interest rate on small savings schemes, such as Public Provident Fund (PPF) and National Savings Certificate (NSC), by 0.2 percentage points for the January-March quarter. PPF and NSC will now fetch a lower annual rate of 7.6%
- India has signed agreement with Switzerland for automatic sharing of tax-related information from January 1, 2018 with an aim to combat black money. Prior to it, India had to ask Switzerland for specific bits of information against the Indian account holder in Swiss banks. But due to its earlier secretive laws it could delay or deny information altogether.
- National Consumers Day / National Consumers Right Day is being observed on December 24th with the objective of providing better protection of consumer’s interest. This day is being observed since the Consumer Protection Act, 1986 was enacted on this day in 1986.Theme of the year 2017: “Emerging Digital Markets: Issues & Challenges for Consumer Protection”
- Budget carrier IndiGo has become the first Indian airline to operate over 1,000 daily flights across its domestic and international network.
- The Union Ministry of Communications has launched a programme titled DARPAN (Digital Advancement of Rural Post Office for A New India) to improve quality of service, add value to services and achieve financial inclusion of un-banked rural population. DARPAN is Information Technology (IT) modernisation project aimed at realising financial inclusion of un-banked rural population. It offers core banking services to the account holders.
- The governments of India and Tamil Nadu signed an agreement with the World Bank for the multilateral lender to provide a $318 million loan for modernisation of irrigation projects in Tamil Nadu, improve market opportunities for small and marginal farmers and their adoption of climate resilient techniques.
- US President Donald Trump has signed a tax cut bill which proposed the country’s biggest tax overhaul in 30 years into law. The tax reform is estimated to cost $1.5 trillion (over ₹96 lakh crore) to the US economy
- The astronaut of National Aeronautics and Space Administration (NASA), Bruce McCandless (80) passed away. He was the first person to fly freely and untethered in space.
- The Indian men’s football team has ended the year 2017 at the 105th position in the latest FIFA rankings, which is its best year-end ranking in the last 24 years.
- After slamming 10 sixes in the India-Sri Lanka T20I, cricketer Rohit Sharma took his tally to 64 sixes in 2017, setting the record for most sixes across all formats in a calendar year
- Spinner Washington Sundar became the youngest debutant for India in T20Is after appearing in the final T20I against Sri Lanka.
Science and Technology
- India’s indigenously developed supersonic Advanced Air Defence (AAD)interceptor successfully destroyed an incoming hostile Prithvi missile over the Bay of Bengal during its third test-fire this year today.The interceptor, positioned at Abdul Kalam Island in the Bay of Bengal, destroyed the target at a 30-kilometre altitude.
National & Business
- Karnataka’s capital city Bengaluru has got it’s own logo consisting both English and Kannada alphabets. With this Bengaluru will become the 1st Indian city to have its own logo. The English letters ‘Be’ and ‘u’ in the logo represents ‘be you’.
- The Union Ministry of Personnel, Public Grievances & Pensions has launched an electronic-Human Resource Management System (e-HRMS).This e-HRMS will not only help employees to see all their details with respect to service book, leave, GPF, salary, etc. but also helps them apply for different kind of claims/reimbursements, loan/advances, leave, leave encashment, LTC advances, tour etc. on a single platform.
- India’s first-ever broad gauge air-conditioned AC EMU suburban train was flagged off from Borivali station on western railway in Mumbai, Maharashtra.
- India Government Mint (IGM), a unit of Security Printing and Minting Corp of India Ltd has launched India’s first home-grown high purity gold reference standard –Bharatiya Nirdeshak Dravya (BND-4201).The BND-4201 is reference material for gold of ‘9999’ fineness (gold that is 99.99% pure with impurities of only 100 parts-per-million). It will be beneficial to the consumers and public at large to ensure purity of gold.
- A report by UK’s Centre for Economics and Business Research (CEBR) has revealed that India is going to overtake France and UK to become world’s fifth-largest economy in 2018. China is likely to overtake the US as world’s largest economy in 2032, CEBR added.
- India was among the 128 countries which voted in favour of a resolution rejecting the US’ recognition of Jerusalem as Israel’s capital at the 193-member United Nations General Assembly’s meeting today.
- India observe December 22 to commemorate 131th birthday of great Indian Mathematician Srinivasa Ramanujan who made extraordinary contributions to mathematical analysis, number theory, infinite series, and continued fractions.He compiled more than 3900 mathematical results and equations
- Airtel Payments Bank Managing Director and CEO Shashi Arora has quit the company after nearly a 12-year stint with the Sunil Mittal-led Bharti Airtel group.
- India has sanctioned $25 million to help develop Myanmar’s violence-hit Rakhine State.
- India’s first and only design university World University of Design (WUD) has opened its campus at Sonipat, Haryana. The university promoted by Om Parkash Bansal Educational and Social Welfare Trust of Mandi Gobindgarh, Punjab is dedicated to education in creative domain.