DAILY GK --BANKERS ADDA 11TH MARCH TO 17TH MARCH 2017

11/03/2017

Goa Election 2017: Francis D'Souza (BJP) wins from Mapusa

i. Deputy Chief Minister Francis D'Souza wins from Mapusa constituency by a margin of over 6,000 votes.

ii. The total voter turnout was 78.94% and Francis D’souza was the candidate from BJP who had won followed by Ashish Tulshidas Shirodkar of Nationalist Congress Party (NCP).

RBI Restricts Cash Loan Against Gold by NBFC to Rs 25,000

i. Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 25,000 in cash against gold according to RBI.

ii. The earlier provision for NBFC was that high-value loans against the gold of Rs 1 lakh and above must only be disbursed by cheque. RBI reduced the amount to Rs 25,000 from the earlier Rs 1 lakh in line with the provisions of the Income Tax Act.

iii. The decision was taken in the backdrop of government’s focus on less cash economy and promoting digital payments.

Himachal launches mobile app 'Mera Hunar HP' for job-seeker

i. Virbhadra Singh led Himachal Pradesh government has launched mobile app and website titled ‘MeraHunar HP’ or ‘My Talent’ to help skilled and semi-skilled workers find jobs.

ii. The mobile app will connect prospective employers with job aspirants as the latter’s resume will contain addresses and contact numbers.

iii. This initiative will foster the skill development scheme and be of great help to pass-outs of industrial training institutes also make available real-time employment data of the state.

President of India inaugurates the 12th CII-Exim bank conclave on India Africa Project Partnership

i. President Pranab Mukherjee has inaugurated the two-day 12th CII-EXIM Bank Conclave on India-Africa Project Partnership in New Delhi.The first conclave has held in 2005.

ii. It was organized by the Confederation of Indian Industry (CII) in partnership with the EXIM Bank of India with the support of the Ministry of External Affairs and the Ministry of Commerce & Industry, Government of India.

iii. The Objective is to discuss cooperation in Trade, Regional Integration & Infrastructure Development, Finance & Consultancy, Mining & Minerals, Agriculture & Agro-Processing, Power & Alternative Energy, Healthcare, Small & Medium Enterprises, Human Capital Development and People-to-People Contacts.

Government releases draft rules for wallet companies

i. In a bid to make transactions through e-wallets safer and strengthen the grievance redressal mechanism for consumers, a government has released a set of guidelines for wallet firms.

ii. The draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 which have been released for public consultation by the ministry of electronics and IT cover an entire spectrum such as protecting consumer information, especially financial data. The Rules mandate that each Prepaid Payment Instruments (PPI) company or wallet firm will have a privacy policy posted on its website.

iii. It will also have to appoint a chief grievance officer, the contact details of whom will have to be prominently displayed on the website. The grievance officer will have to "act upon" any complaint within 36 hours and "close" it in a month's time.

Paytm to levy 2% fee on recharge via credit cards

i. Digital wallet player Paytm will now levy a 2% fee for adding money to Paytm wallet using credit cards.

ii. This is a result of multiple users using Paytm to get free credit by using credit cards to top up their digital wallets and transferring the money back to their bank accounts at zero transaction cost.

iii. The digital payment wallet will, however, provide an equivalent amount of cashback for using credit card to add money to the wallet. The cost of adding money to the wallet through other modes such as net banking and debit cards remains non-chargeable.

IBM Researchers Creates World’s Smallest Magnet to Store Single Bit Data

i. A team of researchers at IBM has created the world’s smallest magnet using a single atom which can store one bit of data on it.Currently, hard disk drives use about 100,000 atoms to store a single bit.

ii. The IBM scientists used a scanning tunneling microscope (STM) to build and measure isolated single-atom bits using the holmium atoms. Then, they used an electrical current to write and read binary data (1s and 0s) on the atom.

Google acquires Kaggle for undisclosed amount to boost data play

i. Technology giant Google has announced the acquisition of Kaggle, a start-up that hosts a number of data scientists, for an undisclosed amount at the Cloud Next 2017 conference.

ii. Kaggle and Google Cloud will continue to support machine learning training and deployment services while offering the community the ability to store and query large datasets.

Ford Foundation appoints Pradeep Nair as regional director for India, Nepal, and Sri Lanka

i. New York-based Ford Foundation has appointed Pradeep Nair as regional director for India, Nepal, and Sri Lanka.Nair will take charge at the end of March from David Hulse.

ii. He will lead the global non-profit grant-making organization’s operations in New Delhi, serving the three countries.

Paddleboarder makes world-first Atlantic crossing

i. A South African man Chris Bertish has become the first person to cross the Atlantic Ocean on a stand-up paddleboard after completing an epic 4,050-mile voyage alone at sea.

ii. Chris Bertish pulled into Antigua, in the Leeward islands of the Caribbean after departing from Agadir, Morocco, 93 days ago. Bertish, 42, a big-wave surfer as well as a sailor, who won the renowned Mavericks surf contest in northern California in 2010.

12/03/2017

B P Kanungo was appointed Deputy Governor in Reserve Bank of India (RBI)

i. B P Kanungo was on Friday appointed Deputy Governor in Reserve Bank of India (RBI) for three years.
ii. He has been appointed in place of R Gandhi.
iii. Kanungo was in March last year appointed as executive director in the central bank.

'Dangal' won the Viewer's Choice Best Film award at Zee Cine Awards 2017

i. 'Dangal' won the Viewer's Choice Best Film award at Zee Cine Awards 2017 on 11th March 2017.
ii. Salman Khan won the Best Actor and Anushka Sharma was named the Best Actress for their film 'Sultan' based on votes by viewers.

iii. The song 'Channa Mereya' from the film 'Ae Dil Hai Mushkil' was named the Viewer's Choice Song of the Year.

Maritime Admiralty Bill passed by Lok Sabha

i. The Lok Sabha on 10 March 2017 passed the Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill,2016.

ii. The Bill aims to establish a legal framework to consolidate the existing laws relating to admiralty jurisdiction of courts, admiralty proceedings on maritime claims, arrest of vessels and related issues. It also aims to replace archaic laws which are hindering efficient governance.

Reliance Capital’s CEO Sam Ghosh to quit after 9 years

i. Reliance Capital’s long serving CEO Sam Ghosh will leave the company on 31 March, after spending nine years at the financial services arm of Anil Ambani-led business conglomerate.

ii. Ghosh, a Chartered Accountant from England had joined the company in April 2008 as group chief executive officer of Reliance Capital, while he was elevated to the board in May 2015.

Thai contestant wins transgender beauty pageant

i. Thai contestant Jiratchaya Sirimongkolnawin was crowned Miss International Queen 2016 on Friday at a contest billed as the world's largest and most popular transgender pageant.

ii. The 25-year-old beat 24 other contestants for the crown, with the second and third place going to contestants from Brazil and Venezuela, respectively.

iii. The contest was held at the Tiffany's nightclub in the Thai seaside town of Pattaya.

Exhibition “Revolutionary Patriots (1905-1947)” was Inaugurated

i. On the occasion of 127th Foundation Day of National Archives of India (NAI), an exhibition entitled “Revolutionary Patriots (1905-1947)” was inaugurated by Shri N.K. Sinha, Secretary, Ministry of Culture in the presence of Shri Raghvendra Singh, Director General of NAI and many dignitaries.

ii. Addressing on the occasion, Shri N.K. Sinha praised the initiative of NAI and opined that the Digital Technology can make a lot of difference in collection and preservation of historical treasures in NAI.

India launches second stage of HCFCs phaseout plan

i. Environment minister Anil Madhav Dave, on Monday released the second stage of the Hydrochlorofluorocarbons (HCFC) phase-out management plan (HPMP), greenhouse gases that damage the earth’s ozone layer.

ii. It is estimated that with this plan, there would be a net direct CO2-equivalent emission reductions of about 8.5 million metric tonnes annually from 2023.

India has already successfully implemented HPMP stage-I.

13-14/03/2017

No Limit On Cash Withdrawals From Savings Bank Accounts

i. All limits on savings bank cash withdrawals post-demonetisation ended on 13 march 2017, as had been announced by the Reserve Bank of India (RBI) last month.

ii. In a two-stage process, the weekly withdrawal limit per account had been raised to Rs. 50,000, from Rs. 24,000, with effect from February 20,2017, and all limits on ATM withdrawals were slated to cease from March 13, 2017.

iii. It kept its key interest rate unchanged at 6.25%, saying it awaited data on the full impact of the government's demonetisation drive.

Jaitley gets additional charge of Defence Ministry

i. Finance Minister Arun Jaitley was given the additional charge of the Defence Ministry after Manohar Parrikar resigned to take on the new role of Goa Chief Minister.

ii. This is the second time that Jaitley is holding the additional portfolio of Defence Ministry during the present NDA government.

iii. He was incharge of the ministry earlier from May 26 to November 9 in 2014.

Manohar Parrikar appointed Goa chief minister

i. Defence minister Manohar Parrikar appointed as the Goa chief minister after BJP concluded hectic negotiations with regional parties and independents to stitch up the numbers to form a government.

ii. He was made the Defence Minister at the Centre in 2014 and was succeeded by Laxmikant Parsekar as the Chief Minister.

iii. He will take oath as the chief minister on 14th March, 2017.

India Bangladesh border guards celebrate Holi together

i. Border guards of India and Bangladesh celebrated the festival of Holi together along the international border.

ii. India’s Border Security Force (BSF) and Border Guards Bangladesh (BGB) played Holi at Akhaura, an integrated checkpost, and other bordering areas of Tripura and exchanged sweets.

iii. BSF and BGB are very close and have celebrated various annual carnivals each year.

Women Safety app ‘Ammavin Aran’ launched by AIADMK

i. The AIADMK IT Wing has launched the first-of-its-kind women safety application in Tamil Nadu. The app is called 'Ammavin Aran' meaning 'mother's fortress'.

ii. The app will give the user details about the nearest police station and hospital along with map details and phone number.

iii. There is an in-built whistle, which can manipulate the phone speaker to create a loud noise when pressed by anyone in distress.Also the app carries an in-built call recorder and and 'Tips' icon to provide life saving information.

Arunachal Pradesh Launches Adarsh Gram Yojana for Rural Poor

i. The Arunachal Pradesh government has launched a new scheme Adarsh Gram Yojana that is in accordance with the basic philosophy of the Prime Minister 'Sabka Saath Sabka Vikaas'.

ii. The scheme aims to reach the poor people in rural areas of the state to serve them better. Under the scheme, 123 villages (comprising one village per circle) will be developed as 'Model Villages' during the fiscal year 2017-18.

Karnataka announces Rs10-crore fund for women entrepreneurs

i. Karnataka has announced an Idea2POC (Proof of Concept) fund of Rs10 crore for women entrepreneurs.

ii. Under this (Idea2POC) scheme, the Karnataka Department of IT, BT and S&T will fund up to Rs50 lakh for any woman innovator looking for funds for Proof of Concept validation, certification, and cover costs in manufacturing of pilot devices.

iii. The IT/BT Department, under the Multi-Sector Startup Policy of Karnataka, created the Idea2PoC Fund.

Rs605-crore ‘KCR Kit’ scheme for pregnant women, new born

i. Focussing on women welfare and new born, Telangana Chief Minister K Chandrasekhar Rao has come out with an innovative scheme – KCR Kit. The scheme is designed to address complications during the time of pregnancy and aimed at reducing infant mortality rate and encourage institutional deliveries.

ii. The KCR Kit consists of 16 essential things needed for a new-born and will be useful for up to three months.The government proposes to earmark Rs605 crore for the scheme.

Over 1 lakh SB accounts opened in TN: Airtel Payments Bank

i. Airtel Payments Bank, offered by telecom major Bharti Airtel, announced that over one lakh savings accounts were opened in 100 villages across Tamil Nadu.

ii. Through the initiative, the villages would have access to banking services along with the option of making digital payments.

iii. Till date, over one lakh savings accounts have been opened with Airtel Payments Bank across Tamil Nadu.

iv. By launching the service, Airtel Payments Bank will not charge any processing fee from its customers and merchant partners for digital transactions. Payment Banks accept deposits from individuals and small businesses up to a maximum of Rs 1 lakh per account.

HSBC breaks with tradition, names AIA boss Tucker as Chairman

i. HSBC Holdings Plc , Europe's biggest bank, tapped an outsider for its top job appointed insurance veteran and AIA Group boss Mark Tucker as chairman to replace Douglas Flint, who plans to step down in 2017.

ICICI Bank, SBI top bank frauds list: RBI

i. As per RBI data, ICICI Bank topped the list of banks that witnessed most number of frauds during April to December period of 2016 with state-owned SBI taking the second spot.

ii. During the first nine months of the current fiscal, as many as 455 fraud cases, involving 1 lakh rupees and above, were detected in ICICI Bank, closely followed by SBI with 429, Standard Chartered with 244 and HDFC Bank with 237.

iii. However, in value terms, frauds involving 2,237 crore rupees were reported in SBI, followed by Punjab National Bank with 2,250 crore rupees and Axis Bank with 1,998 crore rupees.

OnePlus India Ropes Amitabh Bachchan as its New Brand Ambassador

i. Chinese smartphone company OnePlus has roped in Bollywood star Amitabh Bachchan as its new brand ambassador for India.

ii. Mr Bachchan is the first major face that OnePlus India is associating with for its latest flagship smartphone, OnePlus 3T. With this, Amitabh Bachchan has now joined the first-ever 'OnePlus Star' which is a select group of distinguished OnePlus users.

Pakistan set to conduct its first census in 19 years

i. Pakistan is set to conduct its first national census in 19 years which will begin on Wednesday with the assistance of over 200,000 troops.

ii. Army spokesman Major General Asif Ghafoor and Minister of State for Information Marriyum Aurangzeb addressed a joint conference about preparation for the sixth census, which will be conducted in two phases and will be completed on May 25, 2017. iii.Islamabad last conducted a census in 1998, which recorded a national population of approximately 180 million at that time.

Hyundai Signs 3 Bn Euro Deal For Iran Oil Project

i. Korea’s Hyundai Engineering Co has signed a deal worth 3 billion euros (USD 3.2 billion) with an Iranian investment fund to invest in a major Iranian oil project.

ii. This agreement covers construction of the second phase of the Kangan Petro Refining Complex in southwest Bushehr province of Iran in which Hyundai Engineering plans to invest 3.1 billion euros which is 95% of the overall project cost.

Intel to buy Mobileye for $ 15.3 billion

i. U.S. chip giant Intel has agreed to buy Israeli driverless technology firm Mobileye for $15.3 billion, the largest ever acquisition of an Israeli high-tech company.

ii. The $63.54 per share cash deal is the world's biggest purchase of a company solely focused on the autonomous driving sector.

iii. Mobileye accounts for 70 percent of the global market for advanced driver-assistance and anti-collision systems.

Sena's Vishwanath Mahadeshwar elected as Mumbai Mayor

i. Shiv Sena's Vishwanath Mahadeshwar elected as the Mayor of Mumbai with the support of the BJP, marking a coming together of the two parties after contesting the civic polls separately.

ii. Mahadeshwar defeated Congress nominee Vitthal Lokare by 171-31 margin. He is the 76th mayor of the city.

KPMG elects Bill Thomas as Global Chairman

i. William B Thomas has been elected Chairman of KPMG International. He will lead the KPMG global network of professional services firms for a 4-year term, effective October 1, 2017, succeeding John B Veihmeyer who is completing his term as Chairman and retiring from the firm, at the end of September 2017.

ICC appoint Sachin Tendulkar as official ambassador of women's World Cup 2017

i. Indian cricketing legend Sachin Tendulkar was announced as the official ambassador of Women's Cricket World Cup 2017 by the International Cricket Council (ICC) yesterday, on the occasion of International Women's Day.

ii. The women’s World Cup this year starts on June 24, 2017 at England and Wales with eight top cricketing countries locking horns to grab the coveted trophy.

iii. The 21-day tournament having 28 matches will be played at five different venues with the final at Lord's Cricket Ground,London.

UK parliament gives final approval for Brexit bill

i. In UK, the House of Lords has passed the Brexit bill, paving the way for the government to trigger Article 50 so the UK can leave the EU.

ii. The Prime Minister could theoretically invoke Article 50, which formally starts the Brexit process.

iii.The EU Withdrawal Bill was passed unamended after peers voted by 274 votes to 118 not to challenge the Commons again over the issue of whether Parliament should have a veto on the terms of exit.

CAS upholds lifetime ban on Sergei Portugalov

i. The Court of Arbitration for Sport (CAS) upheld a lifetime ban levied against Sergei Portugalov, former chief of the Russian Athletics Federation's Medical Commission for his role in providing illicit substances to Russian athletes.

ii. The CAS stated that Portugalov had been found to have violated several articles of the IAAF anti-doping regulations, including the possession, trafficking and administration of prohibited substances.

Former Puducherry Agriculture Minister M Chandrakasu passes away

The former Puducherry Agriculture Minister M. Chandrakasu passed away after a prolonged illness. He was 67 .

Chawrasia clinches second successive Indian Open title in Golf

i. SSP Chawrasia has become only the second Indian golfer to successfully defend the Hero Indian Open title.He clinched a seven-stroke win at the redesigned DLF golf and country club in Gurgaon.

ii. This was his sixth win on the Asian Tour and overall sixth international victory. Chawrasia pocketed a winner's cheque of 291,660 US Dollars.

iii. He is the third player to win back-to-back Indian Open. The other two golfers who did so earlier are Jyoti Randhawa who won in 2006 and 2007 and Japan's Kenji Hosoishi who won in 1967 and 1968.

All England Open badminton: Lee Chong Wei of Malaysia lifts Men's Singles crown

i. Lee Chong Wei of Malaysia has lifted the Men's Singles crown at the All England Open badminton championships.In the final in Birmingham, the 34-year-old world number one defeated Shi Yuqi of China in straight games 21-12, 21-10.

ii. For the Malaysian, it is his fifth Singles Title in seven finals in the prestigeous championships

15/03/2017

Govt introduces bill on inter-state river water row in Lok Sabha

i. The Inter-State River Water Disputes (Amendment) Bill, 2017 has been introduced in the Lok Sabha which proposes to streamline the adjudication of river water disputes and make the present legal and institutional architecture robust.

ii. Minister of Water Resources and River Development Uma Bharti introduced the Bill in the house.

iii. The tribunal will consist of one Chairperson, one Vice-Chairperson and not more than six other members. The total time period for adjudication of dispute has been fixed at maximum of four and half years.

Footwear Design And Development Institute Bill, 2017 Introduced In The Lok Sabha

i. The Commerce & Industry Minister Nirmala Sitharaman introduced the Footwear Design and Development Institute (FDDI) Bill, 2017 in the Lok Sabha in order to declare the FDDI as an Institution of National Importance (INI).

ii. To enable FDDI emerge as Centre of Excellence to meet with the international standards and address the shortage of trained human resource in the sector.

iii. The FDDI was established by the Ministry of Commerce and Industry, Government of India in the year 1986. It has pan-India presence with campuses at Noida, Kolkata, Chennai, Fursatganj (UP), Rohtak (Haryana), Chhindwara (M.P) and Jodhpur (Rajasthan).

World Consumer Rights Day being observed: 15 March

i. World Consumer Rights Day is being observed today (15 March 2017) which is an awareness day and theme for this year is 'Building a Digital World Consumers can Trust’. Several functions are being organized across the country to mark the occasion.

Click Here to Read More

Union Government launches Rs.52000 lakh Mission Fingerling

i. The Union government has launched Mission Fingerling to achieve Blue Revolution with the holistic development and management of fisheries in the country.

ii. The Blue Revolution programme focuses on creating an environment that envisages integrated and holistic development and management of fisheries for the socio-economic development of the fishers and fish farmers.

iii. The main motive behind this programme is to enhance the fisheries production from 10.79 mmt (2014-15) to 15 mmt by 2020-21.

Biren Singh to be Sworn in Next CM of Manipur

i. The incumbent Chief Minister of Manipur Okram Ibobi Singh resigned from the post giving way for formation of a new ministry under the BJP.

ii. This is the first time the BJP has come to power in the north-eastern state. The Congress leader Okram Ibobi announced to resign after BJP named Nongthombam Biren Singh as the party’s leader to form the government with the majority win.

iii. The BJP’s N. Biren Singh will take oath as Manipur’s next chief minister on 15th March 2017 along with his council of ministers in the presence of BJP president Amit Shah and Union Minister Jitendra Singh.

Digital push: Gujarat to provide e-marketplace for businesses

i. The Gujarat government has entered into an agreement with a global cloud-based solutions provider cloudBuy.com to develop a B2B marketplace for small and large business units in the state.

ii. The e-marketplace will be used to promote businesses in the state on one single platform, where members can trade with each other and across India and globally. The project has been developed as part of the Centre’s ‘Digital India’ and ‘Make in India’ initiatives.

SBI announces Rs 6,000-cr tractor loan settlement scheme

i. State Bank of India has announced a one-time farm loan settlement scheme worth 6,000 crore rupees primarily for tractors. SBI in a tweet stated that One Time Settlement is announced for Agriculture Loans and the Scheme is valid until 31st March 2017.

ii. Managing Director of the bank Rajnish Kumar stated that loans disbursed before 2011 and falling under doubtful or loss category accounts as of September 2016, will be considered under the scheme.

iii. The MD also said other agri-loans like kisan credit cards and other term-loans for tractors and farm loans may also be covered under the scheme. SBI's total farm loan portfolio is 1.25 Lakh Crore rupees and tractor loan book is about 6,000 crore rupees.

Wholesale Inflation rises to 6.55% in February 2017

i. Wholesale inflation shot up to a 39-month high of 6.55% in February 2017, on account of costlier food and fuel items. Wholesale price based inflation had stood at 5.25% in January 2017, and 3.68% in December 2016.

ii. According to official data, food inflation jumped to 2.69% in February 2017, from minus 0.56% in January 2017. Inflation in the fuel basket spurted to 21.02% in February 2017, from 18.14% in January 2017.

Retail inflation rises to 4-month high of 3.65%

i. Retail inflation rose to a 4-month high of 3.65% in February 2017, mainly due to an increase in the prices of food items.Inflation measured in terms of the Consumer Price Index had stood at 3.17% in January 2017.

ii. Retail inflation was 5.26% in February 2016. According to data released by the Central Statistics Office, retail inflation in food items rose to 2.01% in February 2017, from 0.61% in January 2017. But prices of vegetables declined by 8.29% and of pulses by 9.02%.

World Bank loan for MP solar plant

i. The World Bank has agreed to provide a loan to develop internal transmission arrangements of the upcoming Rewa Ultra Mega Solar project in Madhya Pradesh.

ii. It will provide 25% of the loan amount under its Clean Technology Fund, where the money will be provided at an interest rate of only 0.25%. This would be the first solar power project in the country to receive a loan under Clean Technology Fund (CTF).

BoB approves bond issue

i. The Capital Raising Committee of Bank of Baroda’s board approved raising of funds through the issuance of Basel III compliant Additional Tier-I bonds (perpetual debt instrument) amounting to Rs 500 crore with green shoe option of Rs 500 crore.

ii. In a stock exchange notification, the bank stated the issuance will be on private placement basis depending on market conditions.

Official language policy award

i. Central Bank of India has been awarded first prize in the implementation of Official Language Policy in the western region for the year 2015-2016.

ii. Sudhir Pathak, Chief Manager of Central Bank of India received the trophy and certificate from Kalyan Singh, Governor of Rajasthan at the Official Language Conference of Central and Western Regions in Udaipur recently.

IndusInd Bank to acquire IL & FS Securities Services

i. IndusInd Bank has entered into an agreement with Infrastructure Leasing and Financial Services Ltd (IL& FS) to acquire 100% stake in IL& FS Securities Services Ltd (ISSL).

ii. The private sector bank, however, did not disclose the cost of acquisition or the price at which ISSL shares were acquired.

iii. ISSL, which was incorporated in 2007 as a subsidiary of IL& FS, is a capital market intermediary for professional clearing, depository and custodial Services.

Reliance Comunications gets SEBI approval for merger with Aircel

i. Reliance Communications has received approvals from markets regulator SEBI and the stock exchanges for proposed demerger of its wireless business into Aircel Ltd.

ii. Reliance Communications has received approval of the Securities and Exchange Board of India (SEBI), BSE and NSE for the proposed scheme of arrangement for demerger of the wireless division of the company into Aircel Ltd and Dishnet Wireless Ltd.

Government Establishes Banana Research Centre in Bihar

i. The Union Agriculture and Farmer’s Welfare Minister Shri Radha Mohan Singh laid the foundation stone of the Banana Research Centre at Vaishali, Bihar Centre to fulfill the aspirations of the local banana growers.

ii. The new center will work to find reasons behind less production in banana, enhancement in acreage for cultivation, suitable utilization of the various parts of the plants, different products, marketing and value addition.

Pawan Goenka gets 2nd term as IIT-Madras Board Chairman

i. Pawan Goenka Managing Director of Mahindra and Mahindra has been granted second-term as Chairman of the Board of Governors (BoG) of IIT-Madras.

ii. The President of India, in his capacity as visitor of IIT-Madras, approved the nomination of Goenka, for three years with effect from June 9, 2017.

iii. He had been serving as Chairman, BoG of IIT-Madras, since 9th June 2014 when he was first nominated to the position for a three-year period.

Vienna World’s Best City in Quality of Life, Hyderabad Best Indian City: Mercer

i. According to the Mercer’s 19th annual Quality of Living survey released Vienna, the capital of Austria has topped the list of cities offering the highest quality of life for the eighth year in a row.

ii. In India, Hyderabad emerged as the best city in terms of living standards among Indian cities for the third year in a row.
iii. Baghdad was ranked the worst place at 230 to live due to continuous violence in the city.

Now, book an Uber when flying Jet Airways

i. Full-service airline Jet Airways has announced a partnership with ride-hailing app Uber to book airport cabs through the Jet Airways app itself.

ii. The airline will partner Uber and facilitate travel from the airport once a passenger has booked a ticket on the Jet Airways app.

iii. Guests booking their flights on the app and using Uber for the first time will also benefit from a discount of Rs. 150 across their first three rides by using the promo code JETUBER.

Commonwealth Day

i. Commonwealth Day has celebrated annually across the Commonwealth of Nations on 13th March 2017.

ii. The objective is to come together and celebrate its values and diversity. Theme is 'A peace-building Commonwealth'. It is marked by a multi-faith service in Westminster Abbey, normally attended by Queen Elizabeth II as Head of the Commonwealth along with the Commonwealth Secretary-General and Commonwealth High Commissioners in London.

Shashank Manohar resigns from ICC chairman’s post

i. In a surprise development, Shashank Manohar has resigned as International Cricket Council (ICC) chairman after merely eight months in office, citing personal reasons.

ii. He became the first independent chairman of ICC but had several run-ins with the BCCI on revenue sharing pattern.

Filmmaker and Children’s Author Amy Krouse Rosenthal Dies

Popular American author, filmmaker and public speaker, Amy Krouse Rosenthal died due to ovarian cancer. She was 51.

16/03/2017

Captain Amarinder Singh to be sworn-in as CM of Punjab

i. Captain Amarinder Singh, who led the Congress to victory in Punjab after a decade, will be sworn-in as the Chief Minister for the second time.

ii. Congress had won 77 of the 117 state Assembly seats in the recently held polls. The Aam Aadmi Party emerged as the largest opposition party with 20 seats. The Shiromani Akali Dal-BJP alliance finished third with 18 seats.

Govt approves National Health Policy

i. The government has approved the National Health Policy which proposes to provide assured health services to all in the country.

ii. The policy was approved at the meeting of Union Cabinet chaired by Prime Minister Narendra Modi in New Delhi. The policy increases the gambit of sectors covered in the Primary Health Centre (PHC) level and envisages a comprehensive approach.

Cabinet approves setting up of 50 Kendriya Vidyalayas

i. Fifty new Kendriya Vidyalayas (KVs) will be established across the country to provide quality education to around 50,000 students with the Cabinet giving a go ahead to the project.

ii. The schools, which will be set up under the civil sector for classes 1 to 5.

iii. By providing a common syllabus and system of education, the KVs are intended to ensure that the children of government employees do not face education disadvantages while their parents are transferred from one location to another.

Namami Gange: 20 projects approved for swift implementation

i. 20 projects worth Rs 1,900 Crore have been approved for swift implementation of Namami Gange Programme in Uttarakhand, Bihar, Jharkhand, and Delhi. The Executive Committee (EC) of National Mission for Clean Ganga (NMCG) approved these projects.

ii. Out of 20 projects which were given EC approval, 13 are in Uttarakhand that includes creating new sewage treatment plants, upgrading existing STPs and laying of sewage networks in Haridwar at an estimated cost of approximately Rs 415 crore.

iii. This plan is aimed at treating sewage water generated by not only city's 1.5 lakh local dwellers, but also by people who visit the holy place for various purposes.

Cabinet clears special assistance for EAPs in Andhra Pradesh

i. The Cabinet has approved financial assistance for bifurcated Andhra Pradesh by way of special dispensation in funding of Externally Aided Projects (EAPs) and also the irrigation component of Polavaram project.

ii. The special assistance will be provided to the state towards repayment of loan and interest for EAPs signed and disbursed from 2015-16 to 2019-20.The Centre will also fund 100% of the irrigation component of the Polavaram project starting from 1st of April, 2014.

Govt launches new scheme for developing export linked infrastructure

i. The government has launched a new scheme Trade Infrastructure for Export Scheme (TIES) for developing export linked infrastructure in states with a view to promote outbound shipments.

ii. Launched by Commerce and Industry Minister Nirmala Sitharaman, TIES seeks to bridge the infrastructure gap and provide forward and backward linkages to units engaged in trade activities.

iii. The TIES would focus on projects like customs checkpoints, last mile connectivity, border haats and integrated check posts.

iv. The scheme, to be implemented from April 1, would have a budgetary allocation of Rs 600 crore for three years with an annual outlay of Rs 200 crore. It will be implemented from 2017-18 till 2019-20.

UCO Bank, Future Generali tie up

i. Private insurer Future Generali India Insurance Company (FGII) has entered into a corporate agency tie-up for its products with public lender UCO Bank.

ii. The PSU lender will provide a window at its bank branches for marketing FGII’s offerings. Apart from UCO, the company has tie-ups with over 100 banks across the country.

HDFC Bank to offer online loans against securities

i. HDFC Bank launched an instant digital Loan Against Securities (LAS) facility in collaboration with the National Securities Depository Ltd.(NSDL).

ii. The bank stated that customers can avail themselves of overdraft facility against shares in three steps:
(a) Select the shares to be pledged on net banking
(b) Accept agreement through one-time password (OTP)
(c) Pledge the shares with NSDL online through OTP.

iii. Demat customers can calculate their eligibility for overdraft limit against shares, and open a current account instantly.

State Bank of India signs MoU with CREDAI

i. State Bank of India and real estate developers’ body Confederation of Real Estate Developers' Associations of India (CREDAI) have signed a memorandum of understanding (MoU) to jointly conduct various initiatives towards development of the realty sector.

ii. The MoU will be in force for a period of 3 years.

iii. CREDAI is the largest real estate association in the country with over 11,500 members.

McNally Bharat bags Rs. 415-cr solar power project in AP

i. McNally Bharat Engineering Company Ltd has bagged a Rs. 415.29-crore order from Andhra Pradesh Power Generation Corporation Ltd.

ii. The project entails design, engineering, manufacturing, supply, commissioning and operation and maintenance of 500-MW grid connected solar photovoltaic power project including civil works in Andhra Pradesh.

BHEL's first 800-MW supercritical plant becomes operational

i. Power equipment maker BHEL has commenced commercial operations of its first 800-MW unit, a supercritical thermal plant in Karnataka.

ii. Karnataka Power Corporation Ltd (KPCL) and BHEL are the main equity partners of RPCL, the owner and operator of this power plant. The milestone was achieved for the first unit of the 2x800-MW Yeramarus thermal power station of Raichur Power Corporation Ltd (RPCL), in Raichur district of Karnataka.

International Vision Zero Conference Begins In New Delhi

i. The International Conference on the Vision Zero and its relevance to Occupational Safety and Health (OSH) began at Vigyan Bhavan, New Delhi.

ii. The aim is to focus on the Occupational Safety and Health issues and challenges in the Manufacturing, Construction and Mining sector and provide a forum for promoting safety and health at work by exchanging knowledge, practices, and experience.

iii. The conference was inaugurated by the Minister of State (Independent) for Labour and Employment, Shri Bandaru Dattatreya.

Chennai Port Trust signs MoU with the Government of Puducherry

i. Chennai Port Trust and the Government of Puducherry has signed Memorandum of Understanding (MoU) for handling EXIM cargo originating from Puducherry Port hinterland in New Delhi.

ii. The aim is to promote industrial growth in the region, generate substantial employment and attract investment by major industries. Around 5 Lakh to 10 Lakh tonnes of cargo is expected to be handled between this two ports.

India's contribution to UN increases to Rs 244 crore

i. India's contribution to the United Nations rose 55% to Rs 244 crore in 2015-16 compared with the previous fiscal.

ii. External Affairs Minister Sushma Swaraj informed the Lok Sabha that the government had also made voluntary contributions to the tune of Rs 22 crore to international organizations, including UN agencies, in the last financial year.

iii. The country contributed Rs 244 crore to the UN last fiscal compared with Rs 157 crore in 2014-15.

Annual Krishi Unnati Mela Begins in New Delhi

i. The three-day annual Krishi Unnati Mela was inaugurated by Union Agriculture Minister Radha Mohan Singh at the Indian Agriculture Research Institute in Pusa, New Delhi.

ii. To provide information on new farm schemes and technologies and another welfare scheme that will help to double the farmer’s incomes by 2022.

iii. As a part of the event, the Minister also gave away Pandit Deen Dayal Upadhyay Rashtriya Krishi Vigyan Protsahan Puraskar 2016 to recognize the contribution of Krishi Vigyan.

Justice Sharma sworn in as Upalokayukta of Assam

i. Justice Chittaranjan Sharma sworn in as Assam's Upalokayukta by Governor Banwarilal Purohit.

ii. He was administered the oath of office by the governor at a simple ceremony in the Raj Bhawan. Justice Sharma was a former Judge of the Gauhati High Court.

Tata Steel, Wipro in world's most ethical companies' list

i. Two Indian companies namely Tata Steel Limited and Wipro Limited have been named in the list of World’s Most Ethical Companies 2017 by American think tank Ethisphere Institute.

ii. Wipro is one among the two Information technology category firm named in the list. The other firm in that category is US based Xerox Corporation.

iii. Besides, Tata Steel is also one of the two companies named in the metals, minerals and mining category. US-based Schnitzer Steel Industries Inc is the other company in this segment.

iv. World’s Most Ethical Companies 2017 list consists of 124 firms. US based Ford Motor Company has been named one of the World’s Most Ethical Companies for the 8th straight year.

Babul Supriyo named vice-president of FIFA U-17 World Cup

i. Union Minister of State for Heavy Industries and Public Enterprises, Babul Supriyo has been named as Vice President of the 2017 U-17 FIFA World Cup organizing committee stated by Praful Patel, president of All India Football Federation (AIFF).

ii. For the first time, India to host FIFA U-17 World from October 6 to 28, 2017. Host cities are Mumbai, New Delhi, Kolkata, Kochi, Margao and Guwahati.

Joanna Rowsell Shand Announces Retirement

i. Two times Olympic gold medallist Joanna Rowsell Shand announced her retirement from international cycling.

ii. The 28-year-old track cyclist won gold in the women’s team pursuit at London Olympics 2012 and Rio Olympics 2016.

17/03/2017

Cabinet Approvals

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi in its meeting has approved several MoUs.

Some important cabinet approvals are as follows:

1. National Health Policy, 2017 approved by Cabinet Focus on Preventive and Promotive Health Care and Universal access to good quality health care services.

2. MoUs for cooperation in Youth and Sports Matters with Indonesia and the Kyrgyz Republic.

3. MoU between India and Bangladesh on Aids to Navigation (AtoNs).

Click here to read more

India joins WHO call to end TB by 2030 in South East Asian

i. India with World Health Organization (WHO) signed a 'call for action' and pledged to scale up measures to end the Tuberculosis by 2030.

ii. India among other countries in the South East Asian Region, which bear half of the global tuberculosis burden. India reports 2.8 million new TB cases annually and nearly half a million deaths due to the disease.

iii. Six of the region's countries Bangladesh, Democratic People's Republic (DPR) Korea, India, Indonesia, Myanmar and Thailand are among the 30 high TB burden nations globally.

IISc, Bengaluru Placed Among Top 50 in THE’s Asia Universities Ranking

i. The Times Higher Education (THE) released its Asia University Rankings 2017. The top rank in the Asia University Rankings was attained by the National University of Singapore (NUS) for the second consecutive year.

ii. According to the 2017 ranking, Indian Institute of Science (IISc) in Bengaluru has been ranked best Indian University and has been placed at 27th position among the universities in Asia.

iii. Besides, Indian Institute of Technology (IIT) Bombay was another Indian university among top 50 placed at 42 position.

Bandhan Bank, Avenues India tie up

i. Bandhan Bank, has signed an agreement with Avenues India Pvt Ltd, a payment solution provider to provide merchants with seamless access to point-of-sales (POS) and payment gateway products.

ii. Merchants are expected to have a faster and more direct access to POS machines, payment gateways, and competitive financing options.

BSE ties up with Sentifi for algo analysis, updates

i. The Bombay Stock Exchange (BSE) has tied up with Sentifi, a Swiss company and leader in algorithmic-based analysis, for social media updates of 40,000 globally listed stocks.

ii. Sentifi analyses in real time the public online communication of more than 60 lakh persons and organizations relevant to the financial markets. Under the partnership, Sentifi would track, analyze and report social media messages on various stocks which would be provided on the BSE website.

SEBI allows celebrity endorsements in MFs

i. Securities and Exchange Board of India (SEBI) allowed celebrities to endorse Mutual Fund products at the industry level and issued new advertising code that will require fund houses to communicate in a simple manner with the public.

ii. SEBI stated that it has permitted celebrity endorsements at the industry level for the purpose of increasing awareness of mutual funds as a financial product category.

Dilip Shanghvi appointed as member of RBI's western board

i. Sun Pharmaceuticals Managing Director Dilip Shanghvi has been appointed by the central government as a member of the western area local board of Reserve Bank of India.

ii. The appointment is for four years with effect from March 11, 2017, as per the central bank.

Jwala Gutta appointed SAI governing body member

i. India's most successful Badminton Doubles specialist Jwala Gutta has been appointed a member of the governing body of Sports Authority of India (SAI).
ii. The 14-time national champion and two-time Olympian Jwala won the bronze medal at the 2011 World Championships. She is also a 2010 Delhi Commonwealth Games champion and a silver medallist at the 2014 Glasgow Games in women's doubles.

Indian-American Teen Indrani Das Wins 2017 Regeneron Science Talent Search

i. An Indian-American high school student, Indrani Das, 17, of New Jersey, has won the 2017 Regeneron Science Talent Search bagging the top award of 250,000 dollars.

ii. Indrani, a student at the Academy for Medical Science Technology in Hackensack, won the prestigious high school science and mathematics competition for her new approach to neurological damage.

ONGC to invest Rs 21,500-crore in India's deepest gas find

i. State-owned Oil and Natural Gas Corporation (ONGC) will invest over Rs 21,500 crore to develop India's deepest gas discovery by 2022-23, helping it more than double output from its prime KG basin block.

ii. ONGC, which had last year firmed up an investment of Rs 34,012 crore in bringing to production 10 oil and gas discoveries in its Bay of Bengal block KG-DWN-98/2 (KG-D5), plans to invest another Rs 21,528 crore in developing the ultra-deepsea UD-1 find.

Aeries Financial Tech, Rubique form tie-up

i. CASHe, a fin-tech product promoted by Aeries Financial Technologies, has entered into a strategic partnership with online marketplace for financial products Rubique.

ii. Under the partnership, Rubique will enlist CASHe on its online platform for borrowers to avail viable short-term loan products from CASHe.

iii.CASHe disburses multiple loan products ranging from Rs. 5,000-1 lakh payable over 15, 30 and 90 days.

Changi voted World's Best Airport for 5th consecutive year

i. Singapore's Changi Airport has been voted the World's Best Airport by air travellers at the 2017 World Airport Awards for the fifth consecutive year.

ii. The 2017 World Airport Awards are based on 13.82 million customer nominations across 105 nationalities of air travellers, with 550 airports worldwide taking part.

Click here to read more

China, Saudi Arabia ink deals worth about $65 billion

i. China and Saudi Arabia have signed preliminary deals that is about $65 billion while four-day visit by Saudi King Salman to China.

ii. China’s Deputy Foreign Minister Zhang Ming stated that President Xi Jinping and King Salman inked a total 14 cooperation agreements, including a memorandum of understanding on 35 projects for production capacity and investment cooperation.

NEXTracker partners with to APL Apollo Tubes to expand domestic manufacturing

i. Global solar tracker manufacturer, NEXTracker has partnered with APL Apollo Tubes for manufacturing a bulk of its products in India.

ii. NEXTracker will be increasing its local steel content percentage to over 80% by volume and weight of its final product. NEXTracker also assess that the association with new Indian steel manufacturer reduces shipment time by up to 50%.

SpaceX Falcon 9 Rocket Launches EchoStar 23 Satellite

i. SpaceX’s Falcon 9 rocket conducted its third flight of the year to launch a commercial communications satellite in the geosynchronous transfer orbit.

ii. The launch took off from NASA’s Launch Complex 39A at Kennedy Space Center in Florida and carried the EchoStar 23 communications satellite into orbit.

iii. Having a mass of around 5,500 kilograms (12,000 lb), EchoStar XXIII was the heaviest geosynchronous payload yet launched by the Falcon 9 and will operate at 45 degrees west in geostationary orbit.

Pakistan successfully test-fires surface-to-sea missile

i. Pakistan Navy conducted a successful test of a land-based anti-ship missile, bolstering the operational reach of the country’s navy to launch long-range, anti-ship missiles from land.

ii. The trial of the missile was conducted from the coastal region and the missile secured a hit on a target placed at sea. The missile is equipped with advanced technology and avionics, which enable engagement of targets at sea with a high degree of accuracy.