Current Affairs 7th May 2017

Current Affairs 7th May 2017 - Important Points

• Assent to Ordinance for resolution of non-performing asset crisis in banking system was given by - President
• Which state was declared as Disturbed Area under AFSPA for 3 more months - Assam
• Express Wi-Fi service was launched in India by - Facebook

Current Affairs 7th May 2017 - Details

Assent to Ordinance for resolution of non-performing asset crisis in banking system was given by - President

Among Important Financial Current Affairs on 5th May 2017 President Pranab Mukherjee gave his assent to an ordinance to amend the Banking Regulation Act for resolution of the non-performing asset (NPA) crisis in banking system.

Among Important Financial Current Affairs on 5th May 2017 President Pranab Mukherjee gave his assent to an ordinance to amend the Banking Regulation Act for resolution of the non-performing asset (NPA) crisis in banking system.

Important to mention here that this Ordinance was an amendment in the Banking Regulation Act. It was approved by Union Cabinet chaired by Prime Minister before sending it to President.

Under this ordinance Section 35A of the Banking Regulation Act 1949 was ammended. It will give more powers to Reserve Bank to tackle bad loans.

Which state was declared as Disturbed Area under AFSPA for 3 more months - Assam 

On 6th May 2017, Assam was declared as Disturbed area for another three months under  Armed Forces Special Powers Act (AFSPA). Apart from Assam, bordering area of Meghalaya and three districts of Arunachal Pradesh were also declared same.

It was done after violent activities carried out by groups like ULFA, NDFB etc.

Express Wi-Fi service was launched in India by - Facebook

On 5th May 2017, Facebook launched Express Wi-Fi in India. It will be available via 700 hotspots across four states. These four states are Uttarakhand, Gujarat, Rajasthan and Meghalaya.

Facebook also tied up with Bharti Airtel for setting more 20000 hotspots.

Important to mention here that Express Wi-Fi services are already active in Indonesia, Kenya, Nigeria, and Tanzania.

This service will enable users to get high bandwidth internet service at low rates.