Current Affairs - January, 2019

Latest Current Affairs January, 2019 with Current Affairs, news summary on current events of National and International importance of January, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Bangladesh Elections: PM’s Awami League registers landslide victory

The ruling coalition led by Bangladesh Prime Minister Sheikh Hasina of Awami League has registered a landslide victory in Parliamentary elections. The ruling coalition led by Sheikh Hasina’s Awami League party won 288 out of 300 seats which are about 96 per cent of the seats.

JatiyoShangsad

Bangladesh has a unicameral legislature. The legislature is referred to as Jatiyo Shangsad in Bengali and House of the Nation in English. It is a 350 member’s house of which 300 Members from 300 territorial constituencies are directly elected on the basis of adult Franchise and the remaining 50 seats are reserved for women who are elected on the basis of proportional representation in the Parliament through Single Transferable Vote based on the vote share in elections.

Opposition calls the elections as rigged

The opposition parties have rejected the election outcome calling the election farcical and are demanding a new election be held under the authority of a nonpartisan government. The opposition claims that the ruling alliance has rigged the elections to ensure a favourable outcome.

The Bangladesh Prime Minister Sheikh Hasina has dismissed opposition claims that the vote was rigged. The Election commission of Bangladesh has ruled out any revote, saying there were no reports of large irregularities.

The United Nations Secretary-General Antonio Guterres called for restraint. Condemning violence against candidates and voters as unacceptable he has asked both sides to address complaints peacefully and legally.

Loan subsidy for middle-income group under PMAY extended till March 2020

The Minister for Housing and Urban Affairs Hardeep Singh Puri has said that the loan subsidy for the middle-income group under Pradhan Mantri Awas Yojana, (PMAY) has been extended till 31st March 2020.

The Minister said that more than Rs 6900 cr interest subsidy on housing loans has been disbursed to over 3.14 lakh beneficiaries of Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (Urban).

Credit Linked Subsidy under PMAY-Urban

The Credit Linked Subsidy Scheme (CLSS) is a component under the PMAY-Urban. Under the scheme, the central government provides interest subsidy or purchase/construction/extension/improvement of a house to cater Economical Weaker Section(EWS)/Lower Income Group(LIG)/Middle Income Groups (MIG).

The CLSS is being implemented by two central nodal agencies in India, namely Housing Urban Development Corp and National Housing Bank. The CLSS is planned as a demand-side intervention to expand institutional credit flow to the housing needs of the urban poor.

The CLSS is the only central scheme under the PMAY-Urban and the remaining ones are implemented as sponsored schemes.

For Middle-Income group

CLSS for Middle-Income group covers two income segments in the MIG viz. Rs.6,00,001 to Rs.12,00,000 (MIG-I) and Rs.12,00,001 to Rs.18,00,000 (MIG-II) per annum.

For MIG-I, an interest subsidy of 4% has been provided for loan amounts up to Rs.9 lakh and for  MIG-II, an interest subsidy of 3% has been provided for loan amount up to Rs.12 lakh. Housing loans beyond Rs. 9 lakh and Rs. 12 lakh will be at non-subsidized rates.

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