Daily GK Digest – Mar 1 – Top Current Affairs

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Daily GK Digest

Daily GK Digest – March 1st, 2017 for top current affairs of today.

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Daily GK Digest

Here is the daily GK Digest for March 1st, 2017.

Daily GK Digest : Top Five Current Affairs for Today

Interceptor missile successfully test-fired

  • India successfully carried out an interceptor missile test, validating the reliability of its two layered Ballistic Missile Defence (BMD) still under development .
  • Defence sources said that the endo-atmospheric missile, which can intercept missiles at ranges of 15-30 kms, was launched from Abdul Kalam island off Odisha coast in response to an incoming enemy missile launched from a Navy ship.
  • The missile intercepted the incoming missile at an altitude of 15km scoring a direct hit, as per sources.
  • The BMD has two interceptors – the Prithivi Air Defence (PAD) missile for exo-atmospheric ranges and the Advanced Air Defence (AAD) missile for endo-atmosphere or lower altitudes.

Banks to impose fee after four cash deposits, withdrawals

  • Concessions given by the government in the last four months of demonetisation have come to an end.
  • Starting today, all leading banks will be levying charges on cash transactions above a certain limit.
  • HDFC bank has issued a notification to its customers that they will be levying cash transaction charge. Only four cash transaction cumulatively, that is deposit and withdrawal, will be free and subsequently customers will be charged.
  • The banks claim that these curbs will boost digital economy.

Jitu Rai bags gold in 50m pistol event at ISSF World Cup

  • India’s Jitu Rai clinched the gold and Amanpreet Singh bagged the silver in men’s 50m pistol event in the ongoing ISSF World Cup in New Delhi.
  • This is Rai’s second medal as he won the bronze in 10m pistol at ISSF World Cup.
  • Rai shot a total of 230.1, a world record, to finish on top of the podium, while Amanpreet, who was leading for a major part of the final, had to be satisfied with the silver medal after aggregating 226.9.
  • Iran’s Vahid Golkhandan took away the bronze with a score of 208.0 at the Dr Karni Singh Shooting Range.

Holding more than 10 banned Rs 1000/500 notes illegal now

  • Centre has notified the law that makes holding of more than 10 scrapped currency notes of Rs 1000 and Rs 500 a punishable offense with a minimum fine of Rs 10,000.
  • Those were banned after the government’s move to demonetise the currency on November 8, 2016.
  • The law was signed by President Pranab Mukherjee on February 27.
  • The Specified Bank Notes (Cessation of Liabilities) Act, 2017, has already been passed by Parliament last month with a view to eliminating the “possibility of running a parallel economy” using the old Rs 500/1,000 notes that have been demonetised.
  • The law prohibits the holding, transferring or receiving of scrapped notes from December 31, 2016, and seeks to confer power on the court of a first class magistrate to impose penalty.

Union Finance Minister meets CEO of World Bank Group

  • The Union Minister of Finance, Shri Arun Jaitley, emphasized the need for increasing the World Bank Portfolio for India at a meeting with Ms. Kristalina I. Georgieva, the Chief Executive Officer, World Bank Group today.
  • The Union Minister of Finance said that since India has now decided to take assistance from the World Bank only through International Bank for Reconstruction and Development (IBRD) and cease the funding from IDA.
  • An increase in IBRD support is imperative to meet India’s current requirement of USD 5-7 billion and a huge pipeline of projects. In addition, he also stressed on the need for Capital Increase in the Bank Group.
  • The discussions held ranged from the performance of ongoing World Bank Projects in India to various policy issues relating to the World Bank Group.

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