Banking Current Affairs 2017

Madhav Chavan wins WISE Prize ‘The Nobel Prize for education’

imageDr Madhav Chavan has won the WISE Prize.

  • The WISE Prize is considered to be the "Nobel prize for Education".
  • Prize of $500,000 (£314,000)
  • In recognition for his education work in the slums of Mumbai. His efforts to provide lessons in literacy and numeracy for disadvantaged children and adults in India.

About Dr. Madhav Chavan and his NGO “PRATHAM”

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Income Ceiling for EWS and LIG housing raised by Govt

Government has settled to raise the bar on yearly income needed to qualify for benefits under its existing housing schemes for Economically Weaker Sections (EWS) and Lower Income Groups (LIG).

The move will benefit 20 lakh (2 million) people as more people will now qualify for taking benefits under Rajiv Awas Yojna (RAY) and EWS Housing Schemes.


  • Income criteria to qualify for EWS housing category: Rs 1 Lakh
  • Income criteria to qualify for LIG housings category: Rs 2 Lakh

Accordingly, the decision will be communicated to banks and state governments for effective implementation.