31 January 2017 Current Affairs : Benami Act, Amulya Patnaik, BCCI new panel, Hafiz Saeed

///31 January 2017 Current Affairs : Benami Act, Amulya Patnaik, BCCI new panel, Hafiz Saeed

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National Daily Current Affairs Capsule – 31 January 2017

☀ An All-part meeting was convened in New Delhi ahead of the Budget Session.

Morarji Desai, has presented a record number of 10 budgets, during 1959-1963 and later during 1967-1969. Desai is also the only Finance Minister to have presented budgets on his birthday, in 1964 and 1968 on February 29.


☀  The Budget session of Parliament begins today and President Pranab Mukherjee will address the joint sitting of the Lok Sabha and the Rajya Sabha. The Economic Survey will also be tabled on the first day of the session. There will be no separate Rail budget from this year and it has been merged with the general budget which will be presented on Wednesday. The government has advanced the date of budget presentation so as to complete the entire process before the end of financial year.

☀ The Income Tax department has initiated action under the newly enforced Benami Act, it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under Benami Transactions Act.

  • The Act attracts a heavy penalty and rigorous jail term of a maximum 7 years.
  • The Act is applicable on both movable and immovable property, that has been enforced from November 1, 2016.
  • The Income Tax department is the nodal department to enforce the Benami Act in the country.


☀ Spillage caused by the collision of two ships near the Kamarajar port has resulted in a oil from the spill off the Chennai coast which has stained the Marina beach. The spillage was caused on Saturday. It has significantly affected marine life over a large stretch, with many fish and turtles being found dead.

☀ The Odisha government has rejected the Centre’s negotiation committee on Mahanadi river water dispute with Chhattisgarh. According to the Odisha government, this committee is not in accordance with the provisions of Sec 4(1) of the Inter-State Rover Water Dispute Act of 1956 and this composition is arbitrary.

☀ Following Election Commission’s instructions, Goa Police has filed an FIR against Delhi Chief Minister and AAP national convener Arvind Kejriwal for violating the model code of conduct. At a rally in the poll-bound state, Kejriwal had made statements in which he had asked voters to accept money from Congress and BJP but vote for his party only.

☀ IPS officer Amulya Patnaik, currently serving as Special Commissioner of Police (Administration), has been appointed as new Delhi Police Commissioner. He will succeed Alok Kumar Verma, who will take over as the director of Central Bureau of Investigation.


International News Current Affairs Updates – 31 January 2017

☀ India will focus on strengthening the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) amid Pakistan’s continued attempts at blocking the key anti-terror and connectivity initiatives under the South Asian Association for Regional Cooperation or SAARC. Nepal is the BIMSTEC chair, will host the group’s summit this year, which will be the first since the new Modi government in India assumed office in May 2014.

  • The BIMSTEC countries are home to around 1.5 billion people which constitute around 22% of the global population.
  • Five of them are from South Asia — India, Bangladesh, Nepal, Bhutan, Sri Lanka — and two from South East Asia — Myanmar and Thailand.
  • Though BIMSTEC is a Bay of Bengal group, two land-locked states — Nepal and Bhutan — are also part of the seven member-group.
  • The region has a combined gross domestic product (GDP) of $2.7 trillion.


☀ Turkey and Britain will sign a free trade deal once the UK leaves the European Union formally. This was agreed during UK Prime Minister Theresa May’s official visit to Turkey. The the two countries also signed a $125.5 million deal to jointly develop fighter jets for the Turkish air force.

☀ The Israeli Defence Ministry and the US have successfully tested an anti-ballistic missile system in central Israel.

☀ Miss France, Iris Mittenaere was today crowned as the 65th Miss Universe in the Philippines. Haiti’s Raquel Pelissier was the first runner-up while Colombia’s Andrea Tovar came third. India was represented by Bengaluru’s Roshmitha Harimurthy, who was eliminated in the preliminary round.

☀ Authorities in Pakistan have put Mumbai terror attack mastermind Hafiz Saeed under house arrest in Lahore. The organisation that he heads, Jamaat ud Dawa (JuD) is also likely to be banned.

  • Saeed has been accused by the United States and India of masterminding the 2008 attacks on the Indian financial capital Mumbai that killed 166 people.
  • In 2012, the United States had announced a bounty of $10 million on Hafiz Saeed for his alleged role in the attack in which six American citizens were also killed.


 Greece’s Lambrakis Press Group announced that two of its newspapers including Ta Nea, the country’s best-selling daily, will cease publication due to financial reasons. It also added that the situation was a result of the economic crisis that Greece is currently facing.


Economics Today’s Current Affairs Download – 31 January 2017

☀ The Reserve Bank of India (RBI) has announced that the limits placed on cash withdrawals from ATMs stand withdrawn from February 1. Presently, the daily limit on cash withdrawals from ATMs is Rs 10,000.

  • RBI has also withdrawn all limits on Current Accounts and overdraft accounts with immediate effect.
  • However, the weekly limits of 24 thousand rupees on Savings Bank accounts will continue.


☀ Rising for the second consecutive week, India’s Foreign Exchange Reserves soared by $932.4 million dollars to $360.775 billion in the week ended January 20.

☀The Madhya Pradesh State Tourism Development Corporation has inked an MoU with online travel portal MakeMyTrip to promote its homestay scheme.

☀ The Finance Ministry will contribute partially to a new dedicated railway safety fund in the upcoming Budget to be presented on February 1.

  • The Railway Ministry had requested the Finance Ministry to create a ‘non-lapsable’ safety fund named ‘Rashtriya Rail Sanraksha Kosh’ over five years.
  • This ‘Rashtriya Rail Sanraksha Kosh’ is based on the recommendations of a high-level safety review committee under former chairman Atomic Energy Commission Dr. Anil Kakodkar.
  • The fund is proposed to be utilised for track improvement, bridge rehabilitation, rolling stock replacement, human resource development, improved inspection system, and safety work at level crossing, among other things.


☀ The journey of PayTm, led by Vijay Shekhar Sharma, from an online recharge platform to a payments bank has become a case study at the Harvard Business School.  It is titled ‘Paytm: Building a Payments Network’, the study will be available for teaching purposes within and outside Harvard.


31 January 2017 – Sports Current Affairs Download

☀ The Supreme Court has named a 4-member administrative panel to head the BCCI, naming former Comptroller and Auditor General of India, Vinod Rai, as the panel’s head. The panel includes historian Ramachandra Guha, former women’s cricketer Diana Edulji and IDFC Bank CEO Vikram Limaye.

☀ Indian shuttler PV Sindhu has won the Syed Modi International Grand Prix Gold after beating Indonesia’s Gregoria Mariska in the final.

☀ Boxer Sarita Devi, who recently became India’s first female professional boxer, has won her debut pro bout in Imphal, by defeating Hungary’s Zsofia Bedo by unanimous decision.


We hope this compilation was useful for going through today’s important news. These are also for those looking for daily current affairs download. Please share your comments with us. Have a Good Day!

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