Daily GK Digest – Dec 21 – Top Current Affairs

Daily GK Digest

Daily GK Digest – December 21st, 2016 for top current affairs of today.

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Daily GK Digest

Here is the daily GK Digest for December 21st, 2016.

Daily GK Digest : Top Five Current Affairs for Today

India is now the world’s 6th largest economy

  • India, as the fastest growing economy of the world, surpassed its colonial masters, the United Kingdom, to become the world’s sixth-largest economy in GDP terms.
  • India’s rapid economic growth and the UK’s post-Brexit slump, which lifted it to the sixth position.
  • When India surpassed China as the world’s fastest-growing in February, while the International Monetary Fund in October had projected the country’s GDP will increase by 7.6 percent in 2017.
  • As per the report, the UK’s economy is expected to grow by 1.8 percent this year and slow down to 1.1 percent in 2017. Since it voted to leave the European Union in June, Britain’s economy and currency have struggled.

Team Indus attempts for sending 2 rovers to moon

  • Team Indus, a private company that is aiming to be the country’s first to send a rover to the moon and raise the Indian flag on its surface, is setting its goals high by planning a single mission to carry two rovers.
  • Team Indus stated in the announcement that it has signed a commercial deal with a Japanese company to carry its rover to the moon. In addition, Team Indus is already carrying indigenous rover that will try to fly the Indian flag on the lunar surface on the Republic Day in 2018.
  • Till now, only the Russians and Chinese have sent unmanned rovers to the moon; the Americans launched a full manned buggy on the moon. ISRO seeks to place its own rover on the moon surface in 2018.
  • Recently Team Indus also signed a deal with India’s space agency ISRO and procured a commercial launch to fly its ‘Har Indian ka Moonshot’ using the Polar Satellite Launch Vehicle tentatively slated for the lift off by the end of December 2017.
  • Team Indus is a for-profit organisation headquartered in New Delhi, India.

Pak army official invites India to join CPEC

  • A top Pakistani army official has invited India to join the multi-billion dollar ‘China-Pakistan Economic Corridor’ project.
  • Lieutenant General Aamir Riaz, Commander of the Southern Command said, India should “shun enmity” with Pakistan and join the $46-billion CPEC along with Iran, Afghanistan and other Central Asian countries and enjoy its benefits.
  • The $46 billion CPEC project was launched in early 2015 to link China’s remote Xinjiang region with the Arabian Sea through Pakistan by building a network of roads, railways, energy parks and industrial zones.
  • India has already expressed concern over the project that also passes through Pakistan-occupied Kashmir.

Govt passes ordinance to pay wages digitally or through cheques

  • The Central government decided to bring in an ordinance to amend the Payment of Wages Act for allowing business and industrial establishments to pay salaries through cheques or electronically.
  • The Union Cabinet today approved the ordinance route to amend the Payment of Wages Act, 1936, to allow employers of certain industries to make payment through the electronic mode and cheques.
  • The Payment of Wages (Amendment) Bill, 2016, seeks to amend Section 6 of the principal Act to enable employers to pay wages to employees through cheques or by crediting it to their bank accounts electronically.
  • The Bill was introduced by Labour Minister Bandaru Dattatreya amid din over the demonetisation issue. As per practice, the government introduces ordinance to amend laws for immediate implementation of new rules. An ordinance is valid for six months only. The government is required to get it passed in Parliament within that period.

RBI exempts KYC norms for depositing above ₹5,000.

  • The Reserve Bank of India (RBI) today modified its earlier directive about depositing over Rs 5,000 in old notes in bank accounts. According the modified rule, KYC or Know Your Customer-complaint bank accounts will be exempted from the Rs 5,000 deposit norms.
  • Earlier RBI imposing restrictions on the bank deposits of demonetized currencies and said that old notes above Rs 5,000 can be deposited only once till December 30, 2016 by giving explanations to bank.
  • Demonetized ₹500 and ₹1,000 currency notes can be deposited in any bank accounts till Dec 30, 2016 and later can be exchanged until Mar 31, 2017 through any reserve bank offices.