Persons in News:
1. Yoichiro Ueno new President & CEO of Honda Cars
Japanese auto major Honda Motor Co has appointed Yoichiro Ueno as new President and CEO of its Indian operations with effect from April 1, 2016. He would be replacing Katsushi Inoue.
Japanese auto major Honda Motor Co has appointed Yoichiro Ueno as new President and CEO of its Indian operations with effect from April 1, 2016. He would be replacing Katsushi Inoue.
2. Mukherjee sworn in as 28th CJ of Karnataka
Justice Subhro Kamal Mukherjee took oath as the 28th Chief Justice of the High Court of Karnataka on 25 Feb 2016. Governor Vajubhai R. Vala administered the oath to Mr. Mukherjee in a ceremony held at the Raj Bhavan.
Justice Subhro Kamal Mukherjee took oath as the 28th Chief Justice of the High Court of Karnataka on 25 Feb 2016. Governor Vajubhai R. Vala administered the oath to Mr. Mukherjee in a ceremony held at the Raj Bhavan.
3. Michael Pesch appointed as CEO of Infosys Consulting Holding
Michael Pesch has been appointed as Chief Executive Officer (CEO) of Infosys Consulting Holding, a subsidiary of India’s second largest software company Infosys.
Michael Pesch has been appointed as Chief Executive Officer (CEO) of Infosys Consulting Holding, a subsidiary of India’s second largest software company Infosys.
4. Lalita Babar named Sports Person of the Year
Long-distance runner Lalita Babar was named as the Sports Person of the Year during the India Sports Awards 2015. Current national record holder, Babar has qualified for the Rio Olympics in the 3000-metre steeplechase event.
Long-distance runner Lalita Babar was named as the Sports Person of the Year during the India Sports Awards 2015. Current national record holder, Babar has qualified for the Rio Olympics in the 3000-metre steeplechase event.
5. First class in MBBS for girl with disability
Raushan Jawwad, a 23-year-old student of KEM Hospital and College in Mumbai, secured first class in her final MBBS examination. This success comes eight years after she lost her legs in a train accident near Andheri station in 2008.
Raushan Jawwad, a 23-year-old student of KEM Hospital and College in Mumbai, secured first class in her final MBBS examination. This success comes eight years after she lost her legs in a train accident near Andheri station in 2008.
6. Platini, Blatter bans reduced to six years
Former UEFA President Michel Platini’s suspension, along with that of former FIFA President Sepp Blatter, was reduced from eight to six years by FIFA’s appeals committee.
Former UEFA President Michel Platini’s suspension, along with that of former FIFA President Sepp Blatter, was reduced from eight to six years by FIFA’s appeals committee.
7. Rohit Sharma named global ambassador of Nissan
Japanese car manufacturer Nissan on Wednesday named Indian cricketer Rohit Sharma as their new global ambassador.
Japanese car manufacturer Nissan on Wednesday named Indian cricketer Rohit Sharma as their new global ambassador.
8. Infosys Extends Vishal Sikka’s Term By Two Years
India’s second largest software exporter Infosys has extended the tenure of chief executive officer & Managing Director Vishal Sikka by another two years till the year 2021.
India’s second largest software exporter Infosys has extended the tenure of chief executive officer & Managing Director Vishal Sikka by another two years till the year 2021.
Death:
1. Fidel’s brother Ramon Castro passes away
Ramon Castro, a life-long rancher and farmer who bore a strong physical resemblance to younger brother Fidel Castro, has died. He was widely known by his nickname “Mongo”.
Ramon Castro, a life-long rancher and farmer who bore a strong physical resemblance to younger brother Fidel Castro, has died. He was widely known by his nickname “Mongo”.
International:
1. Lahore-Delhi ‘Dosti’ bus service resumed
Pakistan resumed Lahore-Delhi ‘Dosti’ bus service, days after it was suspended indefinitely at India’s request following violence and arson in Jat quota stir in Haryana.
Pakistan resumed Lahore-Delhi ‘Dosti’ bus service, days after it was suspended indefinitely at India’s request following violence and arson in Jat quota stir in Haryana.
- Capital: Islamabad
- Currency: Rupee
- Prime Minister: Muhammad Nawaz Sharif
- President: Mamnoon Hussain
2. Australia to increase defense spending by $21 bn
Australia will increase defense spending by nearly $21.6 billion over the next decade,Prime Minister Malcolm Turnbull said in Canberra today. Defense spending will rise to 2% of Australia’s GDP, by 2021-2022, as Australia buys new equipment.
Australia will increase defense spending by nearly $21.6 billion over the next decade,Prime Minister Malcolm Turnbull said in Canberra today. Defense spending will rise to 2% of Australia’s GDP, by 2021-2022, as Australia buys new equipment.
- Capital: Canberra
- Currency: Dollar
- Prime minister: Malcolm Turnbull
- Governor-general: Peter Cosgrove
National:
1. Cabinet nod to incentivise cashless transactions
The Union Cabinet on 24 Feb 2016 approved several steps to promote cashless transactions, which include mandatory card-based or electronic payments beyond a prescribed threshold. The Cabinet also approved the rationalisation of the merchant discount rate (MDR) on card transactions and telecom service charges for digital financial transactions to promote mobile banking.
The Union Cabinet on 24 Feb 2016 approved several steps to promote cashless transactions, which include mandatory card-based or electronic payments beyond a prescribed threshold. The Cabinet also approved the rationalisation of the merchant discount rate (MDR) on card transactions and telecom service charges for digital financial transactions to promote mobile banking.
2. Cabinet gives nod to India-Maldives double taxation Agreement on airlines
The Union Cabinet has given its approval for signing of an Agreement between India and Maldives for the avoidance of double taxation of income from international air transport. This agreement provides relief from double taxation for airline enterprises operating between the two countries.
The Union Cabinet has given its approval for signing of an Agreement between India and Maldives for the avoidance of double taxation of income from international air transport. This agreement provides relief from double taxation for airline enterprises operating between the two countries.
3. Cabinet clears $150 million Chabahar port project
The Union Cabinet has approved 150 million dollars credit for Development of the strategically important Chabahar Port in Iran. In this regard, the Union Ministry of Shipping had forwarded the proposal for provision and operationalization of credit from EXIM Bank.
The Union Cabinet has approved 150 million dollars credit for Development of the strategically important Chabahar Port in Iran. In this regard, the Union Ministry of Shipping had forwarded the proposal for provision and operationalization of credit from EXIM Bank.
- Capital: Malé
- Currency: Rufiyaa
- President: Abdulla Yameen
4. Union Cabinet approves setting up of AIM and SETU in NITI Aayog
Union Cabinet chaired by the Prime Minister Narendra Modi on 24 February 2016 gave its nod for a proposal to establish Atal Innovation Mission (AIM) and Self Employment and Talent Utilisation (SETU) in NITI Aayog with appropriate manpower. It was observed that AIM is a mission and SETU is an approach to encourage innovation ecosystem and entrepreneurship. The headquarter of the Atal Innovation Mission will be New Delhi.
5. CCEA hikes MSP of raw jute from Rs 2,700 to 3,200 per quintal
The Cabinet Committee on Economic Affairs has hiked Minimum Support Price (MSP) of raw jute from 2,700 to 3,200 rupees per quintal. Decision in this regard was taken during CCEA meeting headed by Prime Minister Narendra Modi in New Delhi. The hike has been done for the year 2016-17 to boost production.
The Cabinet Committee on Economic Affairs has hiked Minimum Support Price (MSP) of raw jute from 2,700 to 3,200 rupees per quintal. Decision in this regard was taken during CCEA meeting headed by Prime Minister Narendra Modi in New Delhi. The hike has been done for the year 2016-17 to boost production.
6. Railway Budget 2016-2017
Railway Minister Suresh Prabhu presented his second rail budget this year. He kept thefares unchanged. In his budget speech, he said that for this budget he owes its inspiration to vision of PM Modi who said: “My vision is to make railways backbone of India’s progress & economic development.” He outlined the 3 pillars of strategy – raise new revenues, raise productivity and efficiency and revamp the processes. He also said that the Core objective is to become engine of economic growth, create employment and provide customer service.
The Capital plan of Rs 1.21 lakh crore. Operating ratio kept at 92% FY17 as against 90% in current year.
Here are the highlights of the Rail Budget 2016
Railway Minister Suresh Prabhu presented his second rail budget this year. He kept thefares unchanged. In his budget speech, he said that for this budget he owes its inspiration to vision of PM Modi who said: “My vision is to make railways backbone of India’s progress & economic development.” He outlined the 3 pillars of strategy – raise new revenues, raise productivity and efficiency and revamp the processes. He also said that the Core objective is to become engine of economic growth, create employment and provide customer service.
The Capital plan of Rs 1.21 lakh crore. Operating ratio kept at 92% FY17 as against 90% in current year.
Here are the highlights of the Rail Budget 2016
MoU’s:
1. India, UK sign MoU for research in crop science
An MoU was signed on Wednesday between the Department of Biotechnology of the Indian Government and a consortium of top UK research institutions for the establishment of a joint India-UK collaboration programme in crop science.
An MoU was signed on Wednesday between the Department of Biotechnology of the Indian Government and a consortium of top UK research institutions for the establishment of a joint India-UK collaboration programme in crop science.
- Capital: London
- Currency: Pound sterling
- Prime minister: David Cameron
- Queen: Elizabeth II
- Chancellor: Chris Leslie
2. IRCTC ties up with OYO Rooms for accomodation
Indian Railways subsidiary IRCTC has tied up with online hotel aggregator OYO Roomsunder which the hotel inventory of OYO will be displayed on the hotel-booking page of IRCTC.
Indian Railways subsidiary IRCTC has tied up with online hotel aggregator OYO Roomsunder which the hotel inventory of OYO will be displayed on the hotel-booking page of IRCTC.
Reports:
1. Sania, Saina, Kohli lead pack of 56 Indians in Forbes’ Asia list
Tennis star Sania Mirza, Indian batting mainstay Virat Kohli and top-seeded badminton player Saina Nehwal lead the pack of over 50 Indians in Forbes’ inaugural list of top “promising young leaders and game changers” under the age of 30 in Asia. The Forbes ‘30 under 30 Asia’ list includes 300 “young and driven entrepreneurs and game-changers” from countries including India, Indonesia, China, Hong Kong, Singapore, Japan, Pakistan, Vietnam and Australia who are contributing to their industries in a significant way.
Tennis star Sania Mirza, Indian batting mainstay Virat Kohli and top-seeded badminton player Saina Nehwal lead the pack of over 50 Indians in Forbes’ inaugural list of top “promising young leaders and game changers” under the age of 30 in Asia. The Forbes ‘30 under 30 Asia’ list includes 300 “young and driven entrepreneurs and game-changers” from countries including India, Indonesia, China, Hong Kong, Singapore, Japan, Pakistan, Vietnam and Australia who are contributing to their industries in a significant way.
2. Hurun Global Rich List 2016
India added 27 new billionaires with Mukesh Ambani, Chairman of Reliance Industries (RIL), emerging at the top with a personal wealth of $26 billion, according to Hurun Global Rich List 2016. Cumulative Indian billionaires’ wealth stood at $308 billion, registering a 25 per cent growth over last year. Mr. Ambani, who is ranked 21st globally, was followed by Sun Pharma promoter, Dilip Shanghvi , with personal wealth of $18 billion. Hurun Report on 24 Feb 2016 released the Hurun Global Rich List 2016, a ranking of the US dollar billionaires currently found in the world.
India added 27 new billionaires with Mukesh Ambani, Chairman of Reliance Industries (RIL), emerging at the top with a personal wealth of $26 billion, according to Hurun Global Rich List 2016. Cumulative Indian billionaires’ wealth stood at $308 billion, registering a 25 per cent growth over last year. Mr. Ambani, who is ranked 21st globally, was followed by Sun Pharma promoter, Dilip Shanghvi , with personal wealth of $18 billion. Hurun Report on 24 Feb 2016 released the Hurun Global Rich List 2016, a ranking of the US dollar billionaires currently found in the world.
Banking and Business:
1. Japan’s Sharp accepts takeover by Taiwan’s Hon Hai
Sharp Corp. agreed on 25 Feb 2016 to a 489 billion yen ($4.4 billion) takeover by Taiwan’s Hon Hai Precision Industry Co., also known as Foxconn, becoming the first major Japanese electronics maker to be acquired by a foreign company. Under the agreement, Foxconn will gain a 66 per cent stake in the company.
Sharp Corp. agreed on 25 Feb 2016 to a 489 billion yen ($4.4 billion) takeover by Taiwan’s Hon Hai Precision Industry Co., also known as Foxconn, becoming the first major Japanese electronics maker to be acquired by a foreign company. Under the agreement, Foxconn will gain a 66 per cent stake in the company.
2. Yes Bank wins inaugural Green Bond Award in UK
India’s leading private lender Yes Bank has been awarded inaugural Green Bond Pioneer Award at a ceremony held in London, United Kingdom.
India’s leading private lender Yes Bank has been awarded inaugural Green Bond Pioneer Award at a ceremony held in London, United Kingdom.
- CEO: Rana Kapoor
- Headquarters: Maharashtra, India
- Tagline: Experience our Expertise.
3. Mastercard to launch payments by selfie
Mastercard is launching new mobile technologies that will allow customers to authenticate their online purchases using selfies or fingerprints. The technology will berolled out by big banks in the U.S., Canada, the U.K. and some European countries over the next few months.
Mastercard is launching new mobile technologies that will allow customers to authenticate their online purchases using selfies or fingerprints. The technology will berolled out by big banks in the U.S., Canada, the U.K. and some European countries over the next few months.
- Headquarters: Purchase, New York, United States
Appointment:
1. Rajendra Singh Appointed As First Non-Navy Officer To Head Coast Guard
Rajendra Singh appointed as first non-navy officer to head Coast Guard. Rajendra Singh is at present director General of coast guard.
Rajendra Singh appointed as first non-navy officer to head Coast Guard. Rajendra Singh is at present director General of coast guard.
Miscellaneous:
1. FIFA opens new $140 mn World Football Museum
FIFA on Wednesday opened its new $140 million World Football Museum in Zurich. The museum houses football artifacts and memorabilia acquired by the organisation, including Paul Gascoigne’s 1990 yellow card, Italy coach Enzo Bearzot’s 1982 smoking pipe and World Cup memorabilia including balls, posters and mascots. Notably, the museum also has a souvenir shop and a football skill games section.
FIFA on Wednesday opened its new $140 million World Football Museum in Zurich. The museum houses football artifacts and memorabilia acquired by the organisation, including Paul Gascoigne’s 1990 yellow card, Italy coach Enzo Bearzot’s 1982 smoking pipe and World Cup memorabilia including balls, posters and mascots. Notably, the museum also has a souvenir shop and a football skill games section.
State:
1. Delhi government to pay 1 cr to kin of martyrs
The Delhi government on Wednesday approved the extension of a scheme of paying 1 crore ex-gratia to the families of defence personnel who lose their lives on account of operations, calamities and disaster.
The Delhi government on Wednesday approved the extension of a scheme of paying 1 crore ex-gratia to the families of defence personnel who lose their lives on account of operations, calamities and disaster.
2. Kashmir records hottest February day in 76 years
Kashmir witnessed the hottest day of February since 1940 on Tuesday, said Sonum Lotus, the director of the local meteorological department. The maximum temperature of the day was recorded at 20.6°C, 11 degrees above normal, in the state capital Srinagar.
Kashmir witnessed the hottest day of February since 1940 on Tuesday, said Sonum Lotus, the director of the local meteorological department. The maximum temperature of the day was recorded at 20.6°C, 11 degrees above normal, in the state capital Srinagar.
3. K’taka announces housing scheme for transgenders
The Karnataka government has announced a housing scheme for over 600 transgenders facing social boycott in Bengaluru. The houses will come up on 50 acres of land on the outskirts of the city where the government is building a township for the economically weaker sections of society.
The Karnataka government has announced a housing scheme for over 600 transgenders facing social boycott in Bengaluru. The houses will come up on 50 acres of land on the outskirts of the city where the government is building a township for the economically weaker sections of society.
4. ‘Neerja’ declared tax free in Maharashtra
The Maharashtra government today declared Sonam Kapoor starrer ‘Neerja’ tax-free in the state. The film, directed by Ram Madhvani, released in India on Friday.
The Maharashtra government today declared Sonam Kapoor starrer ‘Neerja’ tax-free in the state. The film, directed by Ram Madhvani, released in India on Friday.
5. Uber opens Centre of Excellence in Hyderabad
Taxi-hailing app Uber today opened its first Asian Centre of Excellence (CoE) in Hyderabad. The centre will support both riders and drivers of the service through 24-hour support via e-mail, phone and social media.
NATIONAL:
1. Rail Budget 2016: Passenger fares Unchanged:
· Railway Minister Suresh Prabhu announced that there will be no increase in Passenger Fares.
· Further, he announced a 33% sub-quota for women passengers in reserved categories, along with increasing the senior citizen's lower berth quota by 50%.
· Also Disabled Friendly toilets will be introduced in 11 Class-A Stations this year.
2. Union Government approved AMRUT action plan for 13 cities:
· Government today approved Atal Mission for Rejuvenation & Urban Transformation, AMRUT Action Plans for 13 cities for 2015-16 with an outlay of Rs 495 crore.
· Ministry of Urban Development said it has cleared the investment plans for cities including Guwahati, Jammu, Srinagar, Panjim, Shillong, Agartala and Puducherry. Centre will provide an assistance of Rs 425 crore out of the total project cost
3. Cabinet approves Atal Innovation Mission:
· The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for establishment of Atal Innovation Mission (AIM) and Self Employment and Talent Utilisation (SETU) in NITI Aayog with appropriate manpower.
· Establishment of AIM and AIM Directorate would result in implementation of Mission activities in a focussed manner. This would be a focal point for innovation and entrepreneurship in the country.
4. Andhra Pradesh to launch Edu-Grid project:
· In Andhra Pradesh, Edu-Grid project of IT&C department unifying all State universities would be implemented to enable students to access data on their attendance, grading profile and assignments, among others, through the university website.
5. India to host 3rd Asia Ministerial Conference on Tiger Conservation:
· India will host Asia Ministerial Conference on Tiger Conservation from 12 April 2016 to save tigers. It will be inaugurated by Prime Minister Narendra Modi.
· It is the third such conference on tiger conservation to be hosted by India that will see the participation of all 13 tiger range countries (TRCs).
· They are Bangladesh, Bhutan, Cambodia, China, India, Indonesia, Lao PDR, Malaysia, Myanmar, Nepal, Russia, Thailand, and Vietnam
6. Exercise IBSAMAR begins in Goa:
· The fifth edition of exercise IBSAMAR between Brazil, India and South Africa begins in Goa.
· This is the first time that Exercise IBSAMAR is being conducted in Indian waters. All the previous editions were being held off South Africa.
· The primary aim of the exercise is to increase interoperability amongst the three navies as well as develop common understanding and procedures for maritime security operations.
7. Union Government to Provide Wi-Fi at 25,000 Spots by March:
· The Government has set a target of providing wi-fi facilities at 25,000 spots in the country by March this year.
· Communications and IT Minister Ravishankar Prasad said, the facilities are available at three hundred spots at present.
8. Union Government to electrify 7,000 villages by March:
· Power and Coal Minister Piyush Goyal has said that the Centre has fixed a target of electrifying 7,000 un-electrified villages by the end of next month.
· Addressing a Power Focus Summit in New Delhi, he said Centre has already electrified 5,542 villages out of the total 18,452 un-electrified villages so far.
· Prime Minister Narendra Modi on his Independence Day speech, last year, had set a target of electrifying 18,452 villages in one thousand days, that is by May 1, 2018.
9. IRCTC ties up with OYO Rooms for accomodation:
· In a bid to provide standardised accommodation options to train travellers through a convenient booking platform, Indian Railway Catering and Tourism Corporation (IRCTC) has tied up with OYO Rooms.
· The Partnership is expected to provide a more user-friendly hotel booking window for rail travellers, as OYO Rooms will show their available inventory of rooms through the IRCTC website itself, along with the promise of offering standardised amenities to the train passengers.
· The IRCTC-OYO Rooms partnership will offer as many as 45,000 hotel rooms spread across 170 cities in India. All of these rooms will have certain assured amenities, including air-conditioning facilities, complimentary breakfast, Wi-Fi access, and 24-hour customer service support.
10. West Bengal Government announced to constitute two task forces for tribals, Gorkhas:
· West Bengal Government announced its decision to constitute two task forces for the development of Adivasis and Gorkhas living the state.
· One task force will work for the tribals of the Terai-Dooars and the other for the Gorkhas living in the Darjeeling Hills region in northern part of the State.
· These task forces will have working authority akin to the development boards constituted earlier.
· Announcement was made by State Sports and Youth Affairs Minister, Arup Biswas at a meeting of the Dooars Siliguri Terai Bhartiya Nepali Development Forum (DSTBNDB) held on 24 February.
11. Mizoram launched National Food Security Act, 2013:
· National Food Security Act (NFSA) 2013 was officially launched in Mizoram
· The Act was launched by State Food civil Supplies and Consumer affairs Minister John Rotluangliana at Aizwal.
· The Act will become effective in the state from 1 March 2016.
· The state has decided to allocate 3 kilogram of rice in addition to the 5 kilogram covered by Food Security Act.
· In addition, the State government has also decided to provide 8 kilogram of Rice at the rate of 15 Rupees to those not covered by Food Security Act.
12. India’s nuclear power capacity to reach 10080 MW by 2018:
· India’s nuclear power capacity is expected to reach 10080 mega watt by 2018-19.
· It will further expand to thrice the present capacity of 5780 mega watt by 2024.
· Minister of State in PMO Jitendra Singh said the Government intends to introduce a Bill to give statutory powers to the Atomic Energy Regulatory Board, the national regulator for nuclear energy.
13. Odisha Government launches pilot project for Computerisation of PDS system:
· Odisha government is taking up a pilot project to monitor the distribution of essential commodities under the public distribution system.
· To check the loopholes in the distribution, every transaction of commodities among the beneficiaries will be recorded in a mechanized system.
· Computerised Fair Price Shop Automation system will help to eliminate any irregularities by the distributors and track all transactions sitting at one place.
14. Union Cabinet approved India-Maldives Agreement on Avoidance of Double Taxation of Income from International Air Transport:
· Union Cabinet chaired by the Prime Minister Narendra Modi gave approval to sign an agreement between India and Maldives for the avoidance of double taxation of income from international air transport.
15. Parliamentary Standing committee on Finance tabled report on NPAs of Public Sector Banks:
· Parliamentary Standing committee on Finance submitted the report on the Net Non performing Assets (NPAs) of Public Sector Banks (PSBs).
· The committee is chaired by M. Veerappa Moily.
· The committee has tabled its 27th report in Parliament which observed that many of bad loans of banks are because of companies with over capacity and weak demand.
16. India to set up Satellite Tracking system in Vietnam:
· India is to set up a Satellite Tracking and Data Reception and Processing Centre in Vietnam for ASEAN Member countries.
· The facility is meant to acquire and process data from the Indian Remote Sensing Satellite relating to the ASEAN region.
17. India-Sri Lanka economic agreement to be signed by mid 2016:
· Sri Lankan Prime Minister Ranil Wickremesinghe has said that Indo-Lanka Economic and Technological Cooperation Agreement (ETCA) will be signed by middle of this year.
· He said the final draft of the agreement will be prepared after those discussions and could be presented to Parliament.
18. Promotion of Payments through cards and digital means:
· The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for introduction of steps for promotion of payments through cards and digital means.
· The move aims at reducing cash transactions.
· The Reserve Bank of India has also recently approved licences for setting up of Payments Banks with the objective of greater financial inclusion by the Payments Banks by providing small savings accounts and payments/remittance services to migrant labour workforce, low income households, small businesses, other unorganised sector entities.
19. Union Government to make policy on strategic sale of state owned companies:
· Government will soon come out with a policy on strategic sale of state-owned companies.
· Disinvestment Secretary Neeraj Kumar Gupta said, the disinvestment will not be confined to loss making enterprises.
· Under the strategic sale, the equity of the company is sold along with the controlling management. However, the quantum of stake to be sold can vary from place to place and company to company
INTERNATIONAL:
20. Beijing overtakes New York City as ‘Billionaire Capital:
· Beijing is the new “Billionaire Capital of the World". The Chinese capital has overtaken the Big Apple as home to the most billionaires 100 to 95 according to Hurun, a Shanghai firm that releases yearly rankings and research about the 1 per cent.
· Beijing took the title from New York after minting 32 new billionaires last year, while New York gained four.
· Moscow came in third place, with 66 billionaires, while Hong Kong and Shanghaicame in fourth and fifth with 64 and 50, respectively.
21. Johnson & Johnson fined $72 million for cancer death linked to talc:
· Johnson & Johnson has been ordered to pay $72 million (£50 million) in damages after a woman’s death from cancer was linked to its talcum products.
· Jacqueline Fox’s death from ovarian cancer was linked to her use of the company’s talc-based Baby Powder and Shower to Shower for several decades.
· It’s the first time a jury has ordered J&J, the world’s largest maker of health-care products, to pay damages over claims that it knew decades ago that its talc-based products could cause cancer and failed to warn consumers.
22. India and UK sign MoU for research in crop science:
· Department of Biotechnology, Ministry of Science and Technology and a consortium of top UK research institutions signed an MoU for establishment of ajoint India-UK collaboration programme in crop science.
· The aim of the agreement is to enhance collaborative research, promote knowledge exchange, and support capacity building to develop resilience in food security. This collaboration builds on the close links already established between leading researchers in the United Kingdom and India.
23. India approves $150 million credit line for Iran’s Chabahar port:
· India has approved a $150 million credit line for the development of Iran’s Chabahar port.
· The Port in southeast Iran is central to New Delhi’s efforts to circumvent arch-rival Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests
24. United States won WTO dispute against India's solar rules:
· A World Trade Organization (WTO) dispute settlement panel ruled in favour of the United States in its challenge to New Delhi's alleged discrimination against US solar exports.
· The panel agreed with the US that India's localisation rules discriminated against imported solar cells and modules under India's National Solar Mission.
· The US Trade Representative's office called the ruling a significant victory that will hasten the spread of solar energy across the world and support clean-energy jobs in the United States.
25. People of Bolivia rejected fourth term for President in referendum:
· Bolivia's Electoral Commission announced that people of the country rejected an amendment to the Constitution in a referendum with 51.3 percent vote.
· With this vote, the incumbent President Evo Morales stands disqualified for contesting the Presidential election for fourth term in 2019.
· At present, Evo Morales is into his third term and his most recent victory was in 2014. Prior to 2014, he was elected to the Presidency twice - in 2006 (under the 1967 Constituion) and 2009.
· As per the most recent and the 17th Constitution, which was promulgated by Evo Morales in 2009, the President of Bolivia is allowed to re-elect only once.
26. US Stocks decline to slump in oil prices:
· US stocks declined amid a renewed slump in oil prices and a still uncertain outlook for global growth and U.S. corporate earnings. So the Dow Jones industrial average slumped 189 points, or 1.1 percent, to close at 16,432.
· The Standard & Poor’s 500 index lost 24 points, or 1.3 percent, to 1,921. And theNasdaq Composite index fell 67 points, or 1.5 percent, to 4,504.
27. China and USA close to agreement on UN resolution against China:
· United States and China made progress toward a draft UN sanctions resolution to punish North Korea for its recent nuclear tests and push it to the negotiating table.
· China’s Foreign Minister Wang Yi and US Secretary of State John Kerry said the draft is still being evaluated by officials before being submitted to the UN Security Council.
28. China building Radar facilities in South China sea: American Think Tank:
· An American think tank has said that Beijing is installing radar facilities on its artificial islands in the disputed South China Sea, in a move analysts warned would exponentially improve the country’s monitoring capacities.
· Satellite imagery of Cuarteron reef in the Spratlys released by the Washington based Centre for Strategic and International Studies showed what appeared to be a high frequency radar installation, as well as a lighthouse, underground bunker, helipad and other communications equipment.
29. Saudi Arabia and UAE urge their citizens to leave Lebanon:
· Saudi Arabia and the United Arab Emirates have urged their citizens to leave Lebanon or avoid travelling there after Riyadh halted 4 billion dollars in aid to Lebanese security forces in response to hostile positions linked to Lebanese Shia group Hezbollah.
BANKING :
30. RBI cancelled Certificate of Registration of 26 NBFCs:
· The Reserve Bank of India (RBI) cancelled the certificate of registration of the 26 non-banking financial companies (NBFCs).
· RBI cancelled the certificate of registration of these 26 NBFCs in exercise of the powers conferred on it, under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
· Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
BUSINESS AND ECONOMY:
31. FINO, Reliance Finance to provide credit to rural poor in Maharashtra, MP
· Payments technology company FINO PayTech (FINO) has tied up with Reliance Commercial Finance to provide credit to rural poor in Maharashtra and Madhya Pradesh.
· The tie-up will help FINO improve the product bouquet for its payments bank, for which it has received in-principle approval.
· Reliance Commercial Finance will offer small loans to women borrowers for a tenor of up to 24 months for carrying out revenue-generating activities.
32. India’s steel output falls 1.5% in Jan:
· Steel production in India fell by 1.5 per cent to 7.4 million tonnes (m.t.) in January 2016 compared with the output in the same month last year.
· This is the first fall since September 2015, when the crude steel production in the country had declined by 0.5 per cent to 7.3 m.t. as against the corresponding month of 2014.
· According to the latest data by the Joint Plant Committee (JPC), under the Steel Ministry, overall crude steel production fell 1.5 per cent in January 2016, impacted by a decrease of 1.7 per cent in case of other producers, while output fell by 1.4 per cent in the case of Integrated Steel Plant (ISP) producers.
33. Ola to create 50,000 Jobs in Uttar Pradesh:
· Ola signed a MoU with the Uttar Pradesh government to create 50,000 jobs in the state in next 5 years.
· Under the MoU, ola will skill and create entrepreneurial opportunities for both men and women in the State.
· Ola will also launch its Ola Auto, Ola Share and Ola Shuttle services across the State.
34. No Service Charge to be levied on card Payments:
· Union Government cleared a proposal to withdraw surcharges, service charges and convenience fees on cards and digital payments.
· This would be instrumental in reducing cash transactions and tax avoidance.
· The government will also rationalise the merchant discount rate-the fee charged by a bank for providing debt and credit card services.
APPOINTMENTS:
35. Government appoints 3 information commissioners in CIC:
· The Centre today appointed Amitava Bhattacharyya, Bimal Julka & Divya Prakash Sinha as information commissioners in the Central Information Commission (CIC)
· Amitava Bhattacharyya is a former Chairman, Staff Selection Commission, Bimal Julka is a former Secretary, Ministry of Information and Broadcasting, and Divya Prakash Sinha is a former Secretary (Security), Cabinet Secretariat.
· “The appointments have been made for a term of five years from the date on which they enter upon their office or till they attain the age of 65 years, whichever is earlier, as per the provisions of the Right to Information Act, 2005,” an official release said.
36. Rahul Taneja Appointed As Chief People Officer of Jet Airways:
· India's 2nd largest airline Jet Airways India Ltd named Rahul Taneja as its chief people officer, responsible for shaping the operations and performance of the group.
· His earlier roles included HR Director at computer giant Dell International and Group HR Head at telecom networks solutions company HFCL.
37. Justice Subhro Kamal Mukherjee sworn-in as Chief Justice of Karnataka High Court
· Justice Subhro Kamal Mukherjee took oath as the 28th Chief Justice of the High Court of Karnataka.
· Governor Vajubhai R. Vala administered the oath to Justice Mukherjee in a ceremony held at the Raj Bhavan.
AWARDS AND HONOURS:
38. Goverdhan Mehta conferred Germany’s prestigious award:
· Goverdhan Mehta, a well-known researcher in Chemical Sciences & former Vice-Chancellor of the University of Hyderabad (UoH), has been conferred with Federal Republic of Germany’s prestigious 'Cross of the Order of Merit'.
· He is a Fellow of the Royal Society (FRS), a Foreign Member of the Russian Academy of Sciences and has been conferred with `Chevalier de la Legion d’Honneur’ by the President of France.
SCIENCE AND TECHNOLOGY:
39. ISRO to launch first solar Mission Aditya –L1:
· The Indian Space Research Organisation, ISRO, is set to launch the country’s first solar mission called Aditya-L1.
· Aditya-L1 satellite will be placed in an orbit about 15 lakh kilometres from the earth.
· Its primary objective will be to study the solar corona in different wavebands. Minister of State in PMO Jitendra Singh said ISRO is going to launch eight Indian and 19 foreign satellites this year.
· The countries whose satellites it will be launching include Algeria, Canada, Germany, Indonesia and USA.
40. Rabishield – World’s first fast-acting Anti-Rabies drug to be launched in India:
· World’s first fast-acting anti-rabies drug Rabies Human Monoclonal Antibody (RMAb) will be launched in India
· The drug has been developed by Pune-based Serum Institute of India (SII) and US-based MassBiologics of the University of Massachusetts Medical School.
· RMAb drug is a human IgG1 monoclonal antibody that instantly deactivates rabies virus by specifically binding to a conformational epitope of glycoprotein of the virus.
SPORTS:
41. India defeated Bangladesh in First Asia Cup match:
· India Defeated Bangladesh by 45 runs in First ever T20 Asia Cup match held at Dhaka, Bangladesh.
· Man of the Match-- Rohit Sharma
OBITUARY:
42. Ramon Castro passed away in Cuba:
1. Railway Budget 2016-17: Highlights
1. Railway Minister Suresh Prabhu on 25 February 2016 presented the Railway Budget 2016-17 in the Lok Sabha. In his second Rail Budget, Prabhu outlined a capital plan of 121000 crore rupees in 2016-17.
2. A saving of 8720 crore rupees for Budget estimates of 2015-16 will be effected in 2016.
3. Theme of the Budget is Overcoming challenges – Reorganize, Restructure Rejuvenate Indian Railways: ‘Chalo, Milkar Kuch Naya Karen’.
4. Railway Budget of 2016-17 is based on three pillars and they are Nav Arjan (New Revenues), Nav Manak (New Norms) and New Sanrachna (New Structures).
Nav Arjan (New Revenues)
It exploits new sources of revenue so that every asset, tangible or non-tangible gets optimally monetized.
New Manak (New Norms)
A Zero Budgeting approach to the financials of the ensuring year, improvement in efficiency yardsticks and procurement practices to bring them in line with international best practices
Nav Sanrachna (New Structures)
Need to re-imagine the conventional ways of solving issues like co-operation, collaboration and communication, creativity and communication to the hallmark of decision-making and actions.
5. Major Highlights
• Wants to double investment in Railways
• Delay in running of 95% trains will be ended by 2020
• Rail tickets will be available at all places by 2020
• Aimed at increasing speed of passenger train by 80km/hr
• LIC has agreed to invest 1.5 lakh crore rupees over 5 years on extremely favourable terms
• Dedicated freight corridor project gaining momentum. New freight corridors announced: Delhi-Chennai, Kharagpur-Mumbai, Kharagpur-Vijayawada.
• Poised to commission broad gauge lines at the rate of 7 km per day against 4.5 km over last five years
• Plan to generate 9 crore man-days employment by 2017-18 and 14 crore man-days by 2018-19
• Institutional financing will be introduced for funding projects
• Action of 139 Budget announcements on 2015-16 has been initiated
• Aimed at eliminating unmanned level crossings by 2020
• Aimed at generating revenues of order of 184820 crore rupees in 2016, which is 10.1 percent higher than revised target of 2015
• North-East India, especially Mizoram and Manipur, to be connected through broad gauge soon
• To commission 2800 km of new tracks in 2016-17
• Bids for setting up 2 locomotive factories was finalised and the new factories will be set up with an order book of 40000 crore rupees.
2. Union Cabinet approved Promotion of Payments through Cards and Digital means
1. Union Government approved introduction of steps for promotion of payments through cards and digital means. The move aims at reducing cash transactions.
2. Under the move no surcharge, service charge, convenience fee will be levied on card and digital payment. Steps will be taken for payments beyond a prescribed threshold mandatory through cards or digital mode.
3. As per the decision, several short term (to be implemented within one year) and medium term (one year to two years) by the Government Ministries/ Departments/ Organisations.
4. Major highlights of promotion of payments through cards and digital means
• It will be instrumental in reducing tax avoidance, migration of Government payments and collections to cashless mode
• It will discourage transactions in cash by providing access to financial payment services to the citizens to conduct transactions through card/digital means
• It will help in shifting payment ecosystem from cash dominated to non-cash/less cash payments
3. Union Cabinet approved $150 million Credit to Iran for Chabahar Port Development
1. Union Cabinet chaired by the Prime Minister Narendra Modi on 24 February 2016 approved the proposal for loan of 150 million US Dollars to Iran for the development of Chabahar Port.The credit will be provided from EXIM Bank and was made by Union Ministry of Shipping.
2. The Cabinet authorized the Ministers of Finance, External Affairs and Shipping to approve the final contract with Iran and for resolution of any issue arising in implementation of the project.
3. It also authorized the Union Ministry of Shipping to form a Company in Iran for implementing the Chabahar Port Development Project and related activities.
4. As per the Memorandum of Understanding (MoU) signed between India and Iran on 6 May 2015, India on a ten year lease will equip and operate two berths in Chabahar Port Phase-I with capital investment of 85.21 million US dollars and annual revenue expenditure of 22.95 million US dollars.
5. The Iranian side had appealed for provision of a credit of 150 million US dollars in accordance with the MoU. Post signing of the contract, the operation of two berths would commence within a period of maximum 18 months.
4. Union Cabinet approved India-Maldives Agreement on Avoidance of Double Taxation of Income from International Air Transport
1. Union Cabinet chaired by the Prime Minister Narendra Modi on 24 February 2016 gave approval to sign an agreement between India and Maldives for the avoidance of double taxation of income from international air transport.
2. Features of the Agreement
• It will provide tax certainty for airline enterprises of India and Maldives.
• It provides for relief from double taxation for airline enterprises of both the countries way of exemption of income derived by the enterprise of India from the operation of aircraft in international traffic, from Maldivian tax and vice-versa.
• The country, to which the product or enterprise belongs to, will impose the tax on the profits from the operation of aircraft in international traffic.
• Mutual Agreement Procedure is also provided to resolve difficulties or doubts which arise during the interpretation or application of the Agreement.
5. Justice Subhro Kamal Mukherjee sworn-in as Chief Justice of Karnataka High Court
1. Justice Subhro Kamal Mukherjee has sworn-in as the 28th Chief Justice of the High Court of Karnataka. He was administered oath to the office as per provision of Article 219 of Constitution by the Governor Vajubhai R. Vala in a ceremony held at the Raj Bhavan, Bengaluru. Prior to this appointment, he was officiating as Acting Chief Justice of High Court of Karnataka since June 2015.
6. Union Cabinet approves establishment of Atal Innovation Mission and SETU in NITI Aayog
1. The Union Cabinet as given its approval for establishment of Atal Innovation Mission (AIM) and Self Employment and Talent Utilisation (SETU) in NITI Aayog. This move seeks to give substantial boost to the innovation ecosystem and to catalyse the entrepreneurial spirit in the country.
2. AIM and AIM Directorate will be established that will help in implementation of mission activities in a focussed manner. Its headquarters will be in New Delhi. Its headquarters will be in New Delhi. NITI Aayog will hire Mission Director and other appropriate manpower. Mission High Level Committee (MHLC) will guide the Mission. It will take all decisions related to approval of requisite guidelines and implementation of various elements of AIM and SETU.
7. Yes Bank wins inaugural Green Bond Award in UK
1. India’s leading private lender Yes Bank has been awarded inaugural Green Bond Pioneer Award at a ceremony held in London, United Kingdom. Yes Bank was bestowed with this award in recognition for its pioneering efforts in the Green Bonds market including successful issuance of India’s first ever Green Infrastructure Bonds.
2. Yes Bank was the first Indian Bank to issue Green Infrastructure Bonds (GIBs) in India. It had issued India’s first-ever GIBs worth 1,000 crore rupees in 2015. Proceeds from these green bonds will be used to fund Renewable Energy projects including solar power and wind power projects
8. Yoichiro Ueno appointed as President and CEO of Honda cars India
1. Yoichiro Ueno has been appointed as new President and Chief Executive Officer (CEO) of Honda Cars India by its parent Honda Motor Company. He will succeed Katsushi Inoue who was elevated to the position of Chief Operating Officer (COO) of the company for Regional Operations (Europe region). Prior to this appointment, Yoichiro Ueno was the CEO and Managing Director (MD) of Honda Malaysia Sdn. Bhd. since January 2011. 2. Previously he had served as the Assistant Vice President of Automobile Sales of American Honda Motor Co. Inc. Ueno has of rich experience in the automobile industry and was associated with Honda Motor Co., Ltd. for over 30 years. He had worked with the company in markets outside Japan like New Zealand and Thailand. He also had worked with overseas division and countries such as Asia and Oceania, China and North America.
9. Aryabhatta award for Avinash Chander
1. Avinash Chander, former Scientific Adviser to Defence Minister and Director General of the DRDO, has been conferred with the Aryabhata Award of the Astronautical Society of India.
2. The award was presented to Avinash Chander by R Chidambaram, Principal Scientific Adviser to Govt. of India and A S Kiran Kumar, Chairman ISRO during the ASI-ISRO Awards function held at Space Applications Centre (SAC).
3. The Aryabhata Award, named after the fifth century Indian Astronomer and Mathematician and also in commemoration of the first Indian Satellite, Aryabhata, launched on April 19, 1975, is presented annually to an individual for outstanding lifetime contribution to the promotion of astronautics in India. The award consists of a citation and Rs 1,00,000/- in cash.#SSC #IBPS #SBI #RBI #NABARD #NICL #NIACL #CAT #NMAT #everydayquiz
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