Current Affairs 1st January 2017

Current Affairs 1st January 2017 - Important Points

• 27th meeting of Southern Zonal Council held at - Thiruvananthapuram 
• India and Singapore inked 3rd Protocol for amending - DTAA
• Period of enhanced Prepaid Payment Instruments limit extended by – RBI

 Current Affairs 1st January 2017 - Details 

27th meeting of Southern Zonal Council held at - Thiruvananthapuram 

Among Important National Current Affairs, The 27th meeting of the Southern Zonal Council which is held at Thiruvananthapuram, Kerala was chaired by Union Home Minister Rajnath Singh. 

However, the Southern Zonal Council consists of Kerala, Karnataka, Telangana, Tamil Nadu, Puducherry (UT) and Andhra Pradesh.

India and Singapore inked 3rd Protocol for amending - DTAA

Among Important International Current Affairs, India and Singapore have signed a Third Protocol to amend DTAA (Double Taxation Avoidance Agreement) for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income. 

However, it was signed in line with India’s treaty policy to prevent double non-taxation, curb revenue loss and check the menace of black money through automatic exchange of information.

Period of enhanced Prepaid Payment Instruments limit extended by – RBI

Among Important National Current Affairs, RBI (The Reserve Bank of India) has extended the period of enhanced Prepaid Payment Instruments (PPI) limit of Rs 20,000 as part of efforts to promote digital payments. 

However, the limit has been extended till the completion of review of the PPI guidelines.

Also, the balance in such PPIs cannot exceed Rs 20,000 at any point of time and the merchants can transfer their funds from such PPIs to their own linked bank accounts up to Rs 50,000 per month, without any limit per transaction.