Current Affairs India - 25 April 2015

1. India has been ranked at 117th position in the list of 158 countries in terms of happiness index as per the World Happiness index released by the Sustainable Development Solutions Network on 24th April

Switzerland was ranked as the world's happiest country as it topped the third annual World Happiness index released by the Sustainable Development Solutions Network on 24th April. Switzerland was followed by Iceland, Denmark, Norway and Canada. Syria ranked as the least happy country (158th rank) in the world.

2. National Panchayati Raj Day was observed yesterday (24th April) across the country after the central government has decided to celebrate 24th April as National Panchayati Raj Day.

The same day marks the passing of the Constitution (73rd Amendment) Act, 1992 that came into force with effect from 24th April 1993. Ministry of Panchayati Raj organises National Conference on this day every year to commemorate the National Panchayati Raj Diwas.

3. Prime Minister Narendra Modi conferred the prestigious Jnanpith award on eminent Marathi litterateur Bhalchandra Nemade today. Mr Nemade is the 50th recipient of the prestigious award.

4. The Reserve Bank has revised priority sector lending norms to ensure a phased increase in loans to small farmers and to make smaller foreign banks to meet the 40% target over the next five years. Under the new guidelines, credit to small and marginal farmers should be 8% of a bank's total credit by March 2017.

The RBI also said overdrafts of up to Rs 5,000 being extended by banks under the PM's new financial inclusion drive will also be treated as priority sector lending (PSL), subject a cap on annual household income which is Rs 1 lakh for rural and Rs 1.60 lakh for non-rural households.

5. India-s largest private bank, ICICI Bank has launched an application for iWatch on expectations that those wearable payment solutions would pick-up soon after another bank HDFC Bank which announced the same a week ago.

The application will enable customers of ICICI Bank to view their transactions and do limited transactions such pay utility bill and recharge prepaid mobile.