CURRENT AFFAIRS SNIPPETS MARCH 30, 2022

 

 

 

CURRENT AFFAIRS SNIPPETS

MARCH 30, 2022

NATIONAL

TN Minister removed from portfolio over casteist remarks against officer

Tamil Nadu Transport Minister RS Rajakannappan, who was accused of harassing a Dalit officer, was removed from his portfolio on Tuesday, as per an official press release. The officer alleged that Rajakannappan used casteist remarks against him in Ramanathapuram. The transport portfolio has now been allocated to SS Sivasankar, who will be the new Minister for Transport in Tamil Nadu.

Supreme Court to resume physical hearing of cases from April 4

Chief Justice of India, N V Ramana, said the Supreme Court (SC) will begin physical hearing of cases from April 4. The announcement came before the top court commenced its proceedings on Wednesday. "Monday and Friday we'll provide links (for virtual hearing) if advocates want," Ramana said. SC shifted to virtual hearings on January 3 this year following Omicron surge.

 

India lost ₹100 crore to bank fraud every day over the past 7 years

India lost over ₹100 crore daily to banking frauds or scams over the past seven years, however, there was a year-on-year reduction in the total amount involved, as per RBI data. Maharashtra topped the list, accounting for 50% of the money involved, followed by Delhi, Telangana and Gujarat. From April 2015-December 2021, ₹2.5-lakh crore financial fraud was detected in India.

 

Hyd to have South Asia's largest bio-research facility: Minister

Union Minister for Culture and Tourism G Kishan Reddy on Tuesday said that South Asia's biggest and most technologically advanced medical research facility will be inaugurated on April 2 in Hyderabad. It is the first such institute to be set up in the country for basic and applied biomedical research, exclusively for animal-related research, Reddy further said.

 

Centre approves appointment of Vikas Kumar as MD of DMRC

The Centre on Wednesday approved the appointment of Vikas Kumar as the Managing Director (MD) of the Delhi Metro Rail Corporation for five years. Kumar, who will take charge as the MD from April 1, was among the 35 candidates, including several directors of DMRC and Indian Railways, who applied for the post, the report said.

 

 

INTERNATIONAL

Finland resumes freight rail link to Russia amid Ukraine war

Finland's national railway operator said it'll resume services between Helsinki and Russia's Saint Petersburg on March 30 amid Ukraine war. The service was halted as a result of sanctions against Russian Railways imposed by Britain, but it was later clarified that the sanctions don't apply to VR Group's contracts, it added. However, passenger services between the countries will remain closed.

Poland to cut all Russian oil imports by end of 2022: PM Morawiecki

Polish Prime Minister Mateusz Morawiecki on Wednesday said Poland will cut all Russian oil imports by the end of 2022 amid Russia's invasion of Ukraine. Morawiecki said Poland will launch the most radical plan among European nations to wean the country off Russian energy supplies. Poland on Tuesday announced it will ban Russian coal imports.

Russia's Foreign Minister Sergey Lavrov to visit India tomorrow

The Ministry of External Affairs on Wednesday said that Russia's Foreign Minister Sergey Lavrov will pay an official visit to New Delhi from March 31 to April 1, 2022. The Russian Foreign Minister's visit comes amid Russia-Ukraine tensions. Earlier, reports had suggested that Lavrov may visit India with the primary objective of finding ways to bolster Indo-Russian trade.

 

Sri Lankans to face 10-hour power cuts daily amid economic crisis

Sri Lankans will have to face 10-hour power cuts daily starting Wednesday, said the country's Public Utilities Commission. This comes amid the economic crisis the country is going through, with shortage of fuel supply hindering electricity generation in power plants. Ceylon Petroleum Corporation has asked the public not to queue up at fuel pumps on March 30 and 31.

Putin created global food crisis by attacking Ukraine: US at UNSC

At UNSC, the US accused Russian President Vladimir Putin of causing a global food crisis by attacking Ukraine. "Putin started this war. He created this global food crisis. And he is the one who can stop it," said US official Wendy Sherman. She added that food prices are surging in low and middle-income countries as Ukrainian exports are being blocked.

 

 

BANKING, BUSINESS AND ECONOMY

Axis Bank to buy Citibank's India consumer business for ₹12,100 crore

Axis Bank will acquire Citibank's India consumer business, which includes credit cards, wealth management, retail banking and consumer loans, for $1.6 billion (over ₹12,100 crore) in an all-cash deal. The transaction also includes the sale of consumer business of Citi's NBFC, Citicorp Finance (India) Limited, Citigroup said. About 3,600 of Citi's employees will transfer to Axis Bank.

Govt approves ₹6,000 crore programme to improve MSME performance

The Union Cabinet has approved a ₹6,000 crore World Bank-assisted programme to improve the performance of MSMEs. The 'Raising and Accelerating MSME Performance' programme will aim at improving MSMEs' access to market and credit and strengthen institutions and governance. The World Bank will provide a loan of ₹3,750 crore and the Centre will provide the remaining ₹2,312.45 crore.

PM Modi congratulates Konkan Railway for achieving 100% electrification

PM Narendra Modi on Wednesday hailed Konkan Railway for completing 100% electrification of its entire 741 km route. "Congratulations to the entire Konkan Railway Team for the remarkable success of 'Mission 100% Electrification' and setting new benchmarks of sustainable development," he tweeted. According to Konkan Railway, the electrification will save about ₹150 crore on fuel.

Karnataka govt moves SC against decision to quash ban on online gaming

The Karnataka government approached the Supreme Court on Tuesday against its state High Court's decision that quashed a ban imposed on online gaming in the state. The state government told the apex court that a law against online gaming is needed to maintain public order as 28,000 cybercrime cases were filed in the last three years in Karnataka.

Which banks recorded the highest value of frauds in 9 months as per govt data?

Twenty-seven scheduled commercial banks and financial institutions reported 96 cases of frauds of over ₹100 crore from April-December 2021, amounting to ₹34,097 crore, RBI data showed. PNB recorded the highest value of frauds at ₹4,820 crore. Bank of India recorded frauds worth ₹3,925 crore, SBI recorded frauds worth ₹3,902 crore, while Yes Bank recorded frauds worth ₹3,869 crore.

 

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