Extensive Coverage Of Current Affairs 10/3/2016

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International Affairs

• Today (2nd Thursday of March) is World Kidney Day.
• This day is a global health campaign celebrated every year all across the world in order to raise the public awareness about the kidneys importance and its contributions to the overall health.
• It is celebrated to make the common public aware about the diseases and problems of the kidneys in order to reduce the occurrence of kidney diseases as well as all the associated health problems of the kidneys. 
• Theme of World Kidney Day 2016 : “Kidney Disease & Children: Act Early to Prevent It”.
• Tibetan Uprising Day observed today (10th March)
• This day commemorates the 1959 Tibetan uprising against the presence of the People's Republic of China in Tibet.
• India and the United States have agreed to work together in fighting terrorist organisations like the Lashkar-e-Taiba and the Jaish-e-Muhammad. 
• This announcement by the White House came after Indian Foreign Secretary S Jaishankar met US National Security Advisor Susan Rice today in Washington DC. 
• The US also announced that it looks forward to continuing a "good, strong relationship with India".

National Affairs

• Today is 47th Raising Day of the CISF.
  
• The CISF came into existence in1969 to provide integrated security cover to public sector undertakings and now has a strength of around 1.4 lakh personnel.
• Important Points to knwo about CISF :
• CISF - Central Industrial Security Force
• Motto - Protection and Security
• Head - Surender Singh
• Governing body - Ministry of Home Affairs (India)
• Parent agency - CAPF (Central Armed Police Forces)
• The Union Cabinet today approved Pradhan Mantri Ujwala Yojana, a Rs 8,000-crore scheme to provide cooking gas (LPG) connections free of cost to women members of poor households. 
• The Cabinet approved this scheme with an outlay of Rs 8,000 crore for three years.
• The scheme will benefit 5 crore BPL households.
• Oil Minister : Dharmendra Pradhan
• The Rajya Sabha today passed the National Waterways Bill 2015 unopposed.
• This move paves the way for the conversion of 106 additional inland waterways into transport waterways, taking their total number to 111. 
• Once made into a law, the waterways can be used to transport cargo, which is the most cost-efficient and fuel-efficient means of transport according to the shipping ministry.
• The Real Estate (Regulation and Development) Bill, aimed at bringing transparency in the sector by creating a consumer right protection umbrella, was passed in the Rajya Sabha today. 
• According to this bill, a real estate regulator will be established to monitor transactions and settle disputes between home buyers and builders. 
• Further, builders will have to pay an interest to buyers for defaults or delays.

Science & Technology

• The Indian Space Research Organisation (ISRO) today successfully launched its6th navigation satellite into the Earth’s orbit from Satish Dhawan Space Centre in Sriharikota. 
• The 1,425-kilogram IRNSS-1F satellite is a part of the Indian Regional Navigation Satellite System (IRNSS) that aims at providing accurate indigenous navigation at par with the US-based Global Positioning System (GPS).
• Indian Naval Ship (INS) Tabar, a stealth frigate of the Indian Navy entered Port Louis, Mauritius and shall remain there till 13 March 2016. 
• The primary aim of the visit is to participate in the Mauritius National Day celebrations and to strengthen the existing bonds of friendship between the two nations.

Business & Economy

• The European Central Bank today cut its benchmark interest rate (refinancing rate) to 0% from 0.05%. 
• Important Points to Note : 
• The refinancing rate is the rate at which the ECB lends money to commercial financial institutions like banks. 
• The bank also slashed its deposit rate by 0.1% to (-)0.40%. 
• With the negative deposit rates, banks will be charged to deposit money with the Eurosystem.
• State-run telecom company BSNL has partnered with Tata Sky to offer video-on-demand services across India.
• Under this first-of-its-kind partnership between a public and a private entity, connectivity and bandwidth will be provided by BSNL and content will be provided by Tata Sky. 
• Note : Currently, Tata Sky has around 4,000 titles available on its platform.

Books & Authors

• Dr. Mahesh Sharma, the Minister for State (I/C) for Culture and Tourism and Minister of State for Civil Aviation released a book entitled "The Culture Heritage of Trans Himalayas-Kinnaur".
• This book was authored by P.S. Nagi Loktus, IAS (retd.).
• The book, published by IGNCA under Ministry of Culture, is a study of the cultural heritage of the trans-Himalayan area of Himachal Pradesh, especially Kinnaurthat involves documentation of traditional institutions like temples, monasteries, Bon chos, artefacts, forts and old dialects of various ethnic groups.

MOUs

• India has signed an agreement to extend $2 billion as line of credit toBangladesh.
• This is the highest ever credit offered by India to any country. 
• The credit would be used in implementing 14 different projects covering power, roads and health sectors, among others. 
• Earlier, India had inked a $1 billion credit agreement with Bangladesh in 2010.

New Appointments

• Tapan Kumar Chand, CMD, Nalco, has been elected President of Aluminium Association of India (AAI).
• Sudhakar Rao will take over as the new Public Interest Director and Chairmanof BSE (Bombay Stock Exchange).
• He is going to replace S Ramadorai, who has retired from the position on 7th March 2016 after serving BSE for six years.
• Shakuntala Doley Gamlin, a 1984- batch IAS officer, has been appointed as Chief Secretary of Arunachal Pradesh. 
• She is going to replace Ramesh Negi.
• Note : Negi has been transferred to the Government of National Capital Territory of Delhi (GNCTD) with immediate effect.
• Jean Arnault was appointed as the Head of United National Political Mission inColumbia. 

Sports

• SainaNehwal‬ entered quarterfinals of women’s singals of All England Badminton Championships.
• Korean auto-giant Hyundai, has signed a deal with the Board of Control for Cricket in India (BCCI) as an Associate Sponsor. 
• Under the four year pact, Hyundai shall be an official partner for all matches to be played across the three formats - Test, One day, and T20. 
• The deal includes in-stadia car display, promotions and Hyundai branding during matches.
• Sun Pharmaceutical Industries has signed Indian cricket team captain M S Dhoni asRevital H's new brand ambassador.

NATIONAL:

Centre to Sign pacts worth over Rs.72,000 Crore at Shipping Summit:

·        The government is expected to sign agreements worth over Rs. 72,000 crore with private players on port-related projects at the Indian Maritime Summit to be held in Mumbai next month.

·        The Ministry of Shipping has identified 109 projects worth Rs.72,864 crore on which agreements will be signed during the event to be held from April 14-16. South Korea will be the partner country for the Summit, Road Transport, Highways and Shipping Minister Nitin Gadkari said here on Wednesday.

·        Mr. Gadkari said, in addition, more than 150 projects will be showcased for investment under the Sagarmala Project for port modernisation.

·        Prime Minister Narendra Modi will inaugurate the summit on April 14.

Over 80 lakh households have given up LPG subsidy: Pradhan

·        More than 80 lakh households have given up LPG subsidy under the ‘Give it Up’ scheme, as of March 3, 2016, Oil Minister Dharmendra Pradhan said.

·        The ‘Give it Up’ campaign is part of the government’s endeavour to reduce its LPG subsidy bill.

Union Cabinet approved MoU between India and Bahrain on Cooperation for Prevention of Human Trafficking:

·        The Union Cabinet, presided by Prime Minister Narendra Modi, gave its approval for a Memorandum of Understanding (MoU) between India and Bahrain on cooperation for prevention of human trafficking, especially trafficking in women and children, rescue, recovery, repatriation and re-integration of victims of trafficking.

·        This MoU aims at increasing the bilateral cooperation between the two nations on the issues of prevention, rescue, recovery and repatriation related to human trafficking especially women and children expeditiously.

·        The MoU is expected to be signed during Home Minister Rajnath Singh’s upcoming visit to Bahrain in the first week of April 2016.

Union Government signed Raptor MoU on conservation of Birds of Prey:

·        The Union Government signed a Memorandum of Understanding (MoU) on conservation of birds of prey in Africa and Eurasia at the Convention on Migratory Species Office in Abu Dhabi.

·        The MoU was signed by T.P Seetharam, the Ambassador of India to the UAE.

·        With the signing of the Raptor MoU, India became the 56th signatory state to sign it.

·        The MoU is also in conformity with the provisions of the existing Wild Life (Protection) Act, 1972, wherein the birds have been accorded protection.

Rajya Sabha passed National Waterways Bill, 2015:

·        The Rajya Sabha passed National Waterways Bill, 2015. The Bill seeks to unleash the navigation potential of India’s larger river ways resources.

·        As part of this Bill, under entry 24 of the Union List of the Seventh Schedule of the Constitution, the Union government can make laws on shipping and navigation on inland waterways that are classified as national waterways.

·        Earlier, the Bill was passed by the Lok Sabha on 21 December 2015.

·        The National Waterways Bill, 2015 was introduced in Lok Sabha on 5 May 2015 by theUnion Minister of Road Transport and Highways and Shipping, Nitin Gadkari.

Enemy Property Bill Amendment Introduced In Parliament:

·        A bill to amend the 48-year-old Enemy Property Act to allow the custodians to continue to hold sway over enemy properties was introduced in Lok Sabha. It proposed to amend the Enemy Property Act, 1968.

·        The central government had designated some properties belonging to nationals of Pakistan and China as “enemy properties” during the 1962, 1965 and 1971 conflicts with the respective countries

Sharp drop in aid to SAARC nations:

·        Contrary to the NDA government’s “Neighbourhood First” diplomatic posture, the development assistance for all SAARC countries has been significantly reduced in the 2016-17 Budget. Except Pakistan, all other six members of SAARC receive significant financial assistance from India.

·        The slashing of the assistance to SAARC countries is in line with the cut in Budget to the Ministry of External Affairs this year that has fallen by about Rs. 500 crore, if one counts the allocation for the Ministry of Overseas Indian Affairs (MOIA) that was merged with the MEA this year.

4,000 cops to be deployed at World Culture Festival:

·        Amid lingering terror threat, around 4,000 personnel from all 17 police stations in southeast district and Delhi Police’s Specialised units, including the Economic Offences Wing (EOW) and Special Cell, will be deployed for the upcoming World Culture Festival.

·        The festival, organised by Sri Sri Ravi Shankar’s Art of Living Foundation, is scheduled to be held on the Yamuna Flood Plains in the National capital from March 11 to 13.

Maharashtra FDA to test J&J’s cosmetic powder:

·        The Maharashtra State Food and Drug Administration (FDA) have sent samples of cosmetic powder made by Johnson & Johnson for laboratory testing.

·        This follows the decision by a US court ordering Johnson & Johnson to pay $72 million in actual and punitive damages to the family of a 62- year-old woman who had died due to ovarian cancer.

·        While the firm has denied the use of any unsafe material, FDA Joint Commissioner Omprakash Sadhwani told BusinessLine that samples would be tested for compliance with BIS standards.

Government Mulls Policy to Promote Wind Energy Projects:

·        In Order to propel the Wind Energy Potential in India, Union government will soon unveil a policy to give incentives including an interest discount of 0.25 % for increasing capacity of Wind mills of up to 1MW.

·        The objective of the mooted policy is to promote optimum Utilisation of wind energy resources by creating facilitative framework for repowering.

India, Saudi Arabia hold talks on regional and global issues:

·        Country’s largest Crude oil supplier Saudi Arabia and India hold talks on regional and global issues of mutual interests.

·        The Saudi Arabia’s foreign minister was on two day visit to India during the visit Union External Affairs Minister SushmaSwaraj held extensive talks with her Saudi Arabian counterpart Adel bin Ahmed Al-Jubeir in New Delhi

·        About one fifth of the country’s import comes from Saudi Arabia the Ministers of the both countries also discuss ways to boost trading ties, exploring new areas of cooperation are expected to be in pipeline.

Five Health Care ATMs have come up in Four states:

·        Five Healthcare ATMs have come up in four states that dispense Medicines based on a prescription unless they refer the patient to a doctor.

·        Five Medicine ATMS will come in Madhya Pradesh, Himachal Pradesh, Odisha and Andhra Pradesh under a health Ministry pilot that merges telemedicine with a basic free drugs programme.

·        The ministry is expecting these would tide over the massive deficiency of doctors in the country.

57 countries to take part in first-ever Maritime India Summit 2016:

·        57 countries are going to take part in the first Maritime India Summit 2016scheduled to be held in April 2016 in Mumbai, Maharashtra.

·        It was announced by the Union Shipping Minister Nitin Gadkari on the sidelines of media launch of the Maritime India Summit 2016

India, Bangladesh sign $2 billion deal to implement Socio-Economic Projects:

·        India and Bangladesh today signed a new 2 billion dollar credit agreement to implement socio-economic projects and to deepen the existing strong bilateral relations between the two neighbouring countries.

·        It is the biggest and softest line of credit India has extended to any country. It carries a low 1 percent interest rate with a 20-year repayment period.

·        Besides infrastructural projects, the agreement stresses co-operation in –social sectors like health and education, involving the establishment of medical colleges and hospitals, modernisation of 2 teachers’ training institutes and the upgradation of 49 polytechnic institutes for better vocational training.

 First Ever NCC girls Everest expedition flagged off:

·        The first ever all girls National Cadet Corps, NCC Mount Everest expedition was flagged off by Minister of State for Defence Rao Inderjeet Singh in Delhi.

·        The team consists of ten girl cadets, who are being led by Colonel Gaurav Karki, along with fifteen service personnel. They will reach Nepal on 31st of this month.

·        After a long trek to Base Camp from 8th to 25th April, the team is likely to summit the peak between 15 and 25th May.

·        The aim of mountaineering expeditions in NCC is to strengthen the character and instill qualities of courage, comradeship, discipline and leadership in the cadets.

National Anthem compulsory in all schools in WB:

·        In West Bengal, the State Council of Secondary Education has made singing of National Anthem compulsory in all schools affiliated to the council.

·        The Council has taken the decision as per a High Court ruling, the official sources said in Kolkata today. The circular in this regard was issued on the third of this month.

Reliance Defence gets final clearance for 12 industrial licences:

·        The licensing committee of Department of Industrial Policy & Promotion (DIPP) has approved 12 industrial licences to the Reliance Defence.

·        The Reliance defence is a subsidiary of Reliance Infrastructure Limited for manufacture of wide range of Defence equipment required by the Armed Forces. 

·        DIPP has approved these licences to the Strategic Business Units (SBU) under Reliance Defence Limited to address defence programmes in India and overseas. 

·        In the aerospace segment, with licences for manufacture of military aircraft and helicopters, the company plans to address the aircraft requirement of the Indian Navy pegged at Rs 9,000 crorer, light utility helicopters, an opportunity valued at more than Rs 20,000 crore.

Government to sell 5% stake in Railway's Container Corp:

·        The government will sell up to 5 per cent stake in state-run Container Corp as part of its asset sales programme.

·        It is expected that a deal could fetch about $170 million (around Rs 1,145 crore). 

·        The government, which owns 61.8 per cent of Container Corp, is selling up to 9.75 million shares at a floor price of Rs 1,195 ($17.76) per share, according to a regulatory filing. 

Five regional centres of National School of Drama proposed:

·        Five regional centres of the prestigious National School of Drama (NSD) are to be set up across the country, besides upgrading a resource centre at Bengaluru to a regional centre.

·        On the basis of the recommendations made by the Broad Based Committee NSD Society proposed to establish 5 regional centres one each at Kolkata, Mumbai/Goa, J&K, and North-East.

·        These regional centres would be established in consultation with the concerned State Governments, who were required to provide accommodation for the purpose.

Signing and ratification of BIMSTEC Convention on Mutual Legal Assistance in Criminal Matters approved:

·        The Union Cabinet, presided by Prime Minister Narendra Modi, gave its approval for signing and ratification of the Bay of Bengal Initiative on Multi Sectoral Technical and Economic Cooperation (BIMSTEC) Convention on Mutual Legal Assistance in Criminal Matters.

·        The Ministry of Home Affairs has been designated as the Central Authority under Article 15 of the Convention.

108 Feet Jain Teerthankar Idol Enters " Guiness Book of Records":

·        108—feet tall idol of Lord Rishabhdeva, the first Teerthankar of Jains, carved out of a single rock, has entered the “Guinness World Records” as the world’s tallest Jain statue.

·        Till now, the 57 feet idol of Lord Bahubali in Shravanabelagola in Karnataka was considered the world’s tallest Jain statue.

·        The impressive statue is located atop Mangi Tungi mountain near Teharabad village of Baglan tehsil in this North Maharashtra district

INTERNATIONAL:

North Korea claims to have Miniaturised Nuke Warhead:

·        North Korean leader Kim Jong Un said the country has miniaturized nuclear warheads to mount on ballistic missiles and ordered improvements in the power and precision of its arsenal.

·        Kim has called for his military to be prepared to mount pre-emptive attacks against the United States and South Korea and stand ready to use nuclear weapons. U.S. and South Korean troops began large-scale military drills this week, which the North called “nuclear war moves” and threatened to respond with an all-out offensive.

Russia tops ranking for women in senior business roles:

·        Russia once again topped the international ranking of countries with the highest percentage of women in senior business roles, with 45 per cent of senior management positions held by women.

·        Russia is followed by the Philippines and Lithuania, according to a report published yesterday by US-based accounting firm Grant Thornton.

·        At the bottom of the list is Japan, where only 7 per cent of senior leadership positions are filled by women.

·        Economic powerhouses Germany and India also continue to lag, with 15 per cent and 16 per cent of senior management positions filled by women. The US finds itself in the bottom third of nations for women in leadership roles.

IMF to set up data sharing centre in India:

·        In a first for Asia, the International Monetary Fund (IMF) will set up a knowledge sharing centre in India, to provide technical support and assistance here and to five other South Asian nations. Their team will extend expertise in core macro economic and financial management areas.

·        An agreement is likely to be signed here on Saturday by IMF managing director Christine Lagarde with Prime Minister Narendra Modi.

India, Bangladesh signed 2 billion US dollar Line of Credit:

·        India and Bangladesh signed a 2 billion US dollar Line of Credit (LOC) to implement socio-economic development projects in Bangladesh and strengthen bilateral relations. The LOC was extended by Export-Import Bank of India (Exim Bank) on behalf of the Government of India.

·        The 2 billion US dollar LOC is the biggest credit line India has so far extended to any country.

·        The agreement was inked in line with Prime Minister Narendra Modi's announcement during his visit in Bangladesh in June 2015.

Australia launches aquaculture challenge for sustainable fishing:

·        In order to promote sustainable aquaculture practices, the Australian government launched an aquaculture challenge for Indian Ocean Region that seeks innovative solutions.

·        The contest will prioritise innovations that address one of the key issues — rethinking feed for aquaculture, new ocean products and sustainable design.

·        The competition is open to academia, industry, general public and non-governmental organisations and an individual project can get a funding up to AU$750,000. The last date for the submission of ideas is June 30.

Heavy rains halt Abu Dhabi flights, shut UAE schools:

·        A thunderstorm brought heavy rain to parts of the United Arab Emirates, disrupting flights, flooding roads and forcing authorities to close schools the next day in the desert nation.

·        Neighbouring Oman, three people died due to stormy weather conditions.

·        Water poured through ceilings and whipped through streets in Dubai, the UAE’s commercial capital. In Abu Dhabi, the hard rains forced the capital’s Stock market to halt trading and close for the day.

Aung Suu Kyi’s Party Nominates her former driver for Myanmar President:

·        Myanmar’s National League for Democracy (NLD) has proposed a close friend of Nobel laureate Aung San Suu Kyi as its presidential candidate, ending a four-month wait for the identity of a president expected to rule in her name.

·        The NLD put forward Htin Kyaw, who joined the party just two months ago, as its lower house candidate. He runs a charity founded by Suu Kyi and has been close to her since the mid-1990s.

N Korea fires two short-range missiles into sea: S Korea

·        North Korea fired two short range ballistic missiles into the sea off its east coast city of Wonsan, South Korea’s military said. The missiles flew approximately 500 kms. North Korea had fired six rockets into the sea as well.

·        South Korea and the United States are currently conducting their largest ever joint military exercises near the demilitarized zone separating the two Koreas that has generated tensions with the North.

UNFPA, UNICEF launched Global Programme to Accelerate Action to End Child Marriage:

·        The United Nations Population Fund (UNFPA) and the United Nations Children's Emergency Fund (UNICEF) jointly launched the Global Programme to Accelerate Action to End Child Marriage.

·        It is a multi-country initiative and is part of a global effort to prevent girls from marrying too young.

APPOINTMENTS:

S Rao will take over as the new public interest director and chairman of BSE:

·        S Ramadorai has retired from the position of chairman and public interest directorship of BSE.

·        He was appointed as public interest director and chairman of the board on 8 March 2010 and retired on 7 March 2016 after serving BSE for six years.

·        The Board placed on record its appreciation for the valued direction and able guidance of Ramadorai that led to multi-dimensional and diversified growth of the Exchange. Sudhakar Rao will take over as the new public interest director and chairman of BSE subject to Sebi approval

Tapan Chand elected AAI chief:

·        Tapan Kumar Chand, CMD, Nalco, has been elected president of Aluminium Association of India (AAI). According to Prof KSS Murthy, General Secretary, AAI, Chand was elected at the governing council meeting.

·        As president of the trade body, he is to approach the Union Ministry of Mines, for the revival of Aluminium Development and Promotion Council and Development Committee on Aluminium Utilization.

Gamlin appointed new  Chief Secretary of Arunachal Pradesh:

·        A 1984- batch IAS officer Shakuntala Doley Gamlin has been appointed as Chief Secretary of Arunachal Pradesh. She replacing Ramesh Negi. 

·        Before her new appointment, Gamlin, first woman IAS officer from Mishing tribe of Assam, served as Principal Secretary (Power) in New Delhi.

·        Negi has been transferred to the Government of National Capital Territory of Delhi (GNCTD) with immediate effect.

Jean Arnault appointed as head of UN Political Mission in Columbia:

·        Jean Arnault was appointed as the head of United National Political Mission in Columbia. An announcement in this regard was made by the UN Secretary-General Ban Ki-moon in New York, the USA.

·        In his new capacity, Arnault, a French national, will also serve as the Secretary-General’s Special Representative in Colombia.

·        Earlier, Arnault moderated the peace process in Guatemala before being appointed thehead of the verification mission in the country (MINUGUA).

·        He also worked in senior positions with the UN in Afghanistan, Burundi, Georgia, and was the UN Special Adviser to the Group of Friends of Democratic Pakistan.

Sun Pharma Signs MS Dhoni As Brand Ambassador For Revital H:

·        Sun Pharmaceutical Industries Limited has appointed Indian Cricketer and Captain MS Dhoni as the Brand ambassador for its top selling health supplement Revital H.

·        MS Dhoni selected as a popular choice basis a consumer research conducted by the company, He is well known for pushing limits and achieving more and perfect combination of physical fitness, strategic thinking and decision making and fits well in the active lifestyle value proposition of Revital H brand.

·        The Company is also planning to establish a new ad campaign featuring MS Dhoni done by Lowe Lintas which will go live throughout the ICC T20 World Cup.

BOOKS AND AUTHORS:

Dr. Mahesh Sharma releases the book “The Culture Heritage of Trans Himalayas-Kinnaur”:

·        The Minister for State (I/C) for Culture and Tourism and Minister of State for Civil Aviation Dr. Mahesh Sharma released a book entitled “The Culture Heritage of Trans Himalayas-Kinnaur” authored by  Shri P.S. Nagi Loktus, IAS (retd.)

·        The book, published by IGNCA under Ministry of Culture.

BANKING :

RBI inks information exchange pact with Bank of Israel:

·        The Reserve Bank has signed a pact with Bank of Israel for exchange of information pertaining to banking supervision.

·        The Reserve Bank has entered into an MoU, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries to promote greater co-operation and share supervisory information.

CBI names 5 IDBI Bank executives in Rs 950 cr loan misuse case by Mallya:

·        Five serving and former executives of the IDBI Bank, mentioned in a probe report by the Central Bureau of Investigation (CBI) will be questioned by the Enforcement Directorate (ED) over a Rs 950-crore loan sanctioned to Kingfisher Airlines in 2009.

·        Yogesh Agarwal, the then chairman and managing director of IDBI Bank, and four other executives who were members of the credit committee, B K Batra, O V Bundellu, R Bansal and S K V Srinivasan, have been named by the CBI.

BUSINESS AND ECONOMY:

Lupin completed acquisition of GAVIS Pharma:

·        Drug major Lupin announced completion of the acquisition of privately held US-based GAVIS Pharmaceuticals LLC and Novel Laboratories (GAVIS).

·        The acquisition created the fifth largest portfolio of Abbreviated New Drug Application (ANDA) filings with the US Food and Drug Administration (FDA).

·        GAVIS has 62 ANDA filings pending approval with the US FDA and a pipeline of over 65 products under development. 72% of these filings pending approvals represent niche dosage forms with 18 Para IVs and 8 FTFs products.

InnerChef acquires EatonGO, Flavour Labs:

·        Food Technology Start-up Innerchef, which operates in the ready-to-cook and ready-to-eat meals segments, has acquired two food start-ups, Flavour Labs in Gurgaon and EatOnGo in Bengaluru.

·        The acquisition of Flavour Labs, a food truck company, will help InnerChef enter the mobile kitchen segment, while EatOnGo, which specialises in breakfasts, will help the company expand its presence in Bengaluru. 

·        After the acquisition, EatOnGo founder Udit Saran will head supply chain at InnerChef while Flavour Labs founder Nandita Shetty will head new launches.

Made-in-India Baleno launched in Japan:

·        Suzuki Motor Corporation, the parent company of Maruti Suzuki, has launched the‘Made in India’ Baleno in Japan today. Maruti intends to export the India-made Baleno to 100 countries in the coming months.

·        The premium hatchback that Maruti launched in India last year was first exhibited at the Frankfurt Motor Show in September 2015.

·        Baleno is manufactured only in India at Maruti Suzuki’s Manesar facility in Haryana. Since its launch, Maruti Suzuki has sold over 38,000 units of Baleno cars in domestic market.

Quikr launches service for doorstep pickup & delivery of pre-owned goods:

·        Online classifieds platform Quikr has launched its ‘Quikr Doorstep’ service to offer buyers of pre-owned goods an e-commerce like experience by facilitating payments, pickup and delivery.

·        The company has now fully launched the service across its mobile and web platforms as it looks to further organise the customer-to-customer (C2C) marketplace.

Sanofi, Merck to end 22-year European vaccines tie-up:

·        Sanofi SA and Merck & Co Inc said they were ending a 22-year-old joint venture to sell vaccines in Europe, arguing they would do better by managing their product portfolios independently.

·        The Sanofi Pasteur MSD venture, which is owned 50/50 by the French and US drugmakers, had sales of €824 million ($908 million) in 2015 but its revenues have been relatively flat recently.

$45-billion FDI commitments ‘after launch of Make in India’:

·        Investment commitments worth $45.68 billion have been made through Foreign Direct Investment (FDI) inflows after the launch of ‘Make in India’ initiative in September, 2014, the Commerce Ministry has said.

·        The investment commitments have been made in the period between October 2014 and December 2015, Commerce & Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

Tata Power inks pact to buy IRRJL wind project:

·        Tata Power’s arm TPREL has signed a pact with Indo Rama Renewables Ltd (IRRL) to acquire its 100 per cent subsidiary IRRJL, which owns a 30 MW wind farm in Sangli District of Maharashtra.

·        Tata Power Renewable Energy LTD (TPREL) also has 250 MW of wind projectsunder construction across Gujarat, Madhya Pradesh and Andhra Pradesh.

Indian Railways Signs Agreement with Bajaj Power:

·        Bajaj Power inked agreement with Indian Railways for Lalitpur- Udaipura rail section electrification project.

·        The Project would cost nearly 47 crore to be completed in a year time by PPP(Public Private Partnership) model.

·        If the section gets electrified it would facilitate uninterrupted coal supply to 1, 980 MW Thermal Power Plant in Lalitpur district Uttar Pradesh.

·        The power plant wholly owned by Bajaj Power generation Company. The third unit of 660 MW is likely to get operational by this month.

Tata Motors partners US Firm for Rs 50 K Crore project:

·        Tata Motors has signed Tri Partite Partnership with Bharat Forge and US based General Dynamics Land Systems for Rs. 50 K crore future infantry combat Vehicle project.

·        The country’s largest commercial Vehicle maker has inked with Pune based auto parts maker Bharat Forge will be partnered by the US firm.

·        India’s Defence Force needs partners with long-term commitments to develop products and solutions through multiple generations of evolution.

·        This tie up will position us well to help the country realise its Make in India vision through the development of the first completely indigenised combat vehicle.

AWARDS AND HONOURS:

Sonakshi Sinha is now on Guinness Book of Records for painting her nails:

·        Sonakshi Sinha is now a Guinness World Record holder and for the weirdest reason.

·        To celebrate International Women’s Day, she entered an event where she participated with several other women to set record for ‘most people painting their fingernails simultaneously’.

NTPC Bags Poll Based Investor Communication Award:

·        NTPC  has been conferred the Research Investor Communication Award among the “Large Corporates” category Director Finance of the Company Shri K. Biswal, received the award at a ceremony held at BSE in Mumbai

·        This award is bestowed for following transparent and fair communication practices by Research Bytes in an independent poll having participation of over 3000 Fund Managers/Analysts/Non Institutional Investors.

·        The award NTPC’s effort on building a strong ecosystem based on consistent and regular communication with investors across the globe in a fair and transparent manner

SCIENCE AND TECHNOLOGY:

MIT Researchers turn waste gas into liquid fuel:

·        With the help of engineered microbes, the MIT Researchers have turned the emissions of power stations, steel mills and garbage dumps into liquid fuels.

·        The process has been successfully trailed at a pilot plant in China and a much bigger facility is now planned.

·        Biofuels have been seen as possible replacement, but current biofuels competewith food production and have been blamed for driving up food prices.

Facebook acquires face-swapping app maker Masquerade:

·        Facebook Inc is acquiring Masquerade Technologies Inc, creator of the popular face-swapping app MSQRD, as part of efforts by the world’s largest social network operator to build its video services.

·        Wall Street Journal reported that photo and video messaging app Snapchat had rejected an offer from Facebook.

·        It is unlikely that Facebook would use Masquerade to significantly draw away Snapchat users, he said.

HC directs Yahoo to deposit Rs 2 lakh for wrongly posting picture of students:

·        Himachal Pradesh High Court has directed the Yahoo.co.in website to deposit two lakh rupees with the court for wrongly posting picture of two students of Himachal Pradesh University on its website.

·        A FIR was registered against the website on the complaint of students in this regard under sec 482 of CPC and Sec 505 (2) of the IPC on last 20th Feb in Shimla.

ISRO  launched Indian Regional Navigation Satellite System:

·        The Indian Space Research Organization is all set to launch the country’s sixth navigation satellite IRNSS-1F, on board the trusted launch vehicle PSLV C-32.

·        The lift off will take place from the second launch pad of the Satish Dhawan Space Centre, Sriharikotta, India’s spaceport.

·        This will form part of the home-grown 7 satellites Indian Regional Navigation Satellite System to provide accurate position information services, similar to the GPS in the whole country and upto 1500 km around it.

·        This is India’s second mission this year, and the first one was also the successful insertion of a similar navigation payload in January this year.

Facebook Lite touches 100 million monthly active users globally:

·        Nine months after launching the Facebook Lite app — the lighter, slimmed-down Android version of the main app — the world’s largest social networking siteFacebook said the app had touched 100 million active monthly users.

·        Facebook is also baking in a lot of new features into the FB Lite app, including videos, multiple photo uploads and has also increased the speed at which the app starts up, according to Vijay Shankar who has incubated and spearheaded the Lite project at Facebook over the past 18 months or so.

Dell unveils Latitude laptops in India:

·        Dell India launched the Latitude series of laptops priced between  44,999 and 87,999.

·        The new Latitude range meets the demands of business users by providing them industry-leading security, manageability and reliability features with an InfinityEdge display and premium materials, the company said.

·        The company showcased six products including the Latitude 13 7000 Series Ultrabook, which will be available from April-end with prices starting at  79,999 and the Latitude 12 7000 Series 2-in-1 available from the month-end at a price starting at 87,999.

Google releases developer preview of Android N operating system:

·        Google let developers have an early look at the next version of Android in a move that could get the software into a wider variety of devices.

·        The US Internet colossus behind the world’s most popular mobile operating system broke from its tradition of releasing new versions of Android at its annual developer’s conference, which will take place in May this year.

·        The developer preview of the “N release” of Android, versions of which have historically been named after sweet treats, should help Google have it ready for device makers by the middle of the year, according to Burke.

SPORTS:

Indo-Pak World T20 clash shifted to Kolkata from Dharamsala:

·        The World Twenty20 clash between India and Pakistan has been shifted to Kolkata from Dharamsala in view of security concerns.

·        After days of hectic activities and inspection by a Pakistan security delegation, the ICC finally announced today the relocation of the match scheduled to be played on 19th of this month.

·        ICC Chief Executive Officer Dave Richardson announced this at a press conference in New Delhi.

All England Championship: Praneeth stuns Lee; Saina, Srikanth, Sameer advance:

·        Shuttler B. Sai Praneeth scripted one of the biggest wins of his career, stunning two-time Olympic silver medallist and former World No. 1 Lee Chong Wei of Malaysia in the opening round of the All England Championship.

·        Besides, ace shuttlers Saina Nehwal, Kidambi Srikanth and Sameer Verma too entered the second round of the $550,000 tournament at the Barclaycard Arena.

OBITUARY:

Brazilian Percussionist, Nana Vasconcelos, died:

·        Eight time Grammy Award-winning Brazilian percussionist, Nana Vasconcelos, died in Recife, Brazil. He was 71.

·        The musician from Brazil was known for his wide instrumental range and major role in free spirited jazz and world music of the 1970s and 1980.

1. ISRO launched Indian Regional Navigation Satellite System-1F

1. The Indian Space Research Organization (ISRO) on 10 March 2016 launched the country’s sixth Indian Regional Navigational Satellite System (IRNSS)-1F, on board the trusted launch vehicle PSLV C-32. 

2. The lift off took place from the second launch pad of the Satish Dhawan Space Centre(SDSC) SHAR, Sriharikotta, India’s spaceport at 4:01pm. Satellite IRNSS-1F was launched after the 54-and-a-half hour countdown that started on 8 March 2016.

3. XL version of PSLV was used in PSLV-C32 and it was the twelfth time that the 'XL' configuration was flown. 

4. IRNSS-1F will form part of the home-grown seven satellites Indian Regional Navigation Satellite System (IRNSS) to provide accurate position information services, similar to the GPS in the whole country and up to 1500 km around it.

5. This is India’s second mission in 2016, and the first one was also the successful insertion of an IRNSS-1E navigation satellite by PSLV C-31 on 20 January 2016. 

The other four IRNSS satellites which were launched

• IRNSS-1A Mission launched by PSLV C-22 in July 2013

• IRNSS-1B Mission launched by PSLV C-24 in April 2014

• IRNSS-1C Mission launched by PSLV C-26 in October 2014

• IRNSS-1D Mission launched by PSLV C-27 in March 2015

2. Union Cabinet approved MoU between India and Bahrain on Cooperation for Prevention of Human Trafficking

1. The Union Cabinet, presided by Prime Minister Narendra Modi, on 10 March 2016 gave its approval for a Memorandum of Understanding (MoU) between India and Bahrain on cooperation for prevention of human trafficking, especially trafficking in women and children, rescue, recovery, repatriation and re-integration of victims of trafficking.

2. This MoU aims at increasing the bilateral cooperation between the two nations on the issues of prevention, rescue, recovery and repatriation related to human trafficking especially women and children expeditiously.The MoU is expected to be signed during Home Minister Rajnath Singh’s upcoming visit to Bahrain in the first week of April 2016.

3. Key highlights of the MoU

• To strengthen cooperation to prevent all forms of human trafficking, especially that of women and children and ensure speedy investigation and prosecution of traffickers and organized crime syndicates in either country.

• Taking preventive measures that will eliminate human trafficking in women and children and in protecting the rights of victims of trafficking.

• Anti-trafficking Cells and Task Force will work on both sides to prevent human trafficking.

3. CCEA approves Pradhan Mantri Ujjwala Yojana

1. The Union Cabinet Committee on Economic Affairs (CCEA) has approved Pradhan Mantri Ujjwala Yojana (PMUY) for providing free of cost LPG (cooking gas) connections to women from BPL Households. This scheme will be implemented by Union Ministry of Petroleum and Natural Gas. It will be for the first time ministry will be implementing a welfare scheme.

2. Under the scheme 

Financial support of 1600 rupees for each LPG connection will be provided to the BPL households.

The identification of eligible BPL families will be made in consultation with the State Governments and the Union Territories. It will be implemented over three years’ time frame namely in the FY 2016-17, 2017-18 and 2018-19. Government has earmarked 8000 crore rupees for providing five crore LPG connections to BPL households. 

3. The PMUY seeks to empowering women and protecting their health by shifting them from traditional cooking based on unclean cooking fuels or on fossil fuels that have serious health hazards to clean cooking gas.

4. Tapan Kumar Chand elected President of Aluminium Association of India 

1. Tapan Kumar Chand was elected as the President of the Aluminium Association of India (AAI). His election took place unanimously on 29 February 2016 at the National Governing Council Meeting of the AAI in Bhubaneshwar.

2. He succeed SK Roongta who is the former Chairman of Steel Authority of India Limited (SAIL) and Vedanta Group.

At present, Tapan Chand is the Chairman and Managing Director (CMD) of National Aluminium Company Ltd (Nalco), which is a Navaratna Central Public Sector Undertaking.

5. India, Bangladesh signed 2 billion US dollar Line of Credit

1. India and Bangladesh on 9 March 2016 signed a 2 billion US dollar Line of Credit (LOC) to implement socio-economic development projects in Bangladesh and strengthen bilateral relations. The LOC was extended by Export-Import Bank of India (Exim Bank) on behalf of the Government of India.

The 2 billion US dollar LOC is the biggest credit line India has so far extended to any country.

2. The LOC agreement to this effect was signed in Dhaka, Bangladesh by Yaduvendra Mathur, Chairman & Managing Director, EXIM Bank, and Mohammad Mejbahuddin, Senior Secretary, Economic Relations Division, Ministry of Finance, on behalf of the Government of the People’s Republic of Bangladesh.

3. The LOC of 2 billion US dollars is the largest ever GOI-supported LOC extended by Exim Bank to any country. With the signing of the LOC, EXIM Bank, till date, has extended two LOCs to Bangladesh, on behalf of Government of India, taking the total value of LOCs to 2.862 billion US dollars.

6. Cabinet clears amendment to MMDR Act

1. The Union Cabinet approved amending the Mines and Minerals (Development and Regulation) Act to allow transfer for captive mining leases issued prior to January 12, 2015, in case of mergers and acquisitions. The amendment now needs ratification from the Parliament.

2. The lack of provision for transfer for mining leases issued prior to January 12, 2015 in the MMDR Act held up several big ticket mergers and acquisitions like Lafarge’s plan of selling two of its cement units to Birla Cement. Jaypee Group had to call off a deal to sell two of its cement units in Madhya Pradesh to UltraTech Cement in Febuary. The two companies are now working on a reworked deal where in UltraTech will acquire 22.4 million tonne of Jaypee’s cement manufacturing capacity.

3. After the enactment of the amended MMDR Act on January 12, 2015, all mining leases in the country could only be issued after a competitive bidding process. Under the amended Act, even in case of mergers and acquisitions, transfer of mineral leases was only allowed for those that have been auctioned.

7. Rajya Sabha clears Real Estate Bill

1. The Rajya Sabha on Thursday approved the Real Estate (Regulation and Development) Bill, 2016, moving a step closer to the establishment of a regulator that seeks to protect the interests of home buyers.

2. The Bill, which seeks to put in place an effective regulatory mechanism for the sector, will also enhance the credibility of construction industry by promoting transparency, accountability and efficiency in execution of projects.

3. The Bill requires that developers deposit 70 per cent of funds collected from buyers in a separate accounts towards the cost of construction including that of land as against a minimum of 50 per cent suggested by the Select Committee.

4. Commercial real estate has also been brought under the ambit of the Bill and projects under construction are also required to be registered with the Regulatory Authority.

8. Indo-Indonesia Joint Training Exercise Garuda Shakti IV begins

1. The fourth edition of the India-Indonesia Joint Training Exercise Garuda Shakti has begun at Magelang in Indonesia. The 13 days (till 23 March) bilateral exercise aims at (i) Building and promoting positive relations between the Armies of India and Indonesia. (ii) Enhancing their abilities to undertake joint tactical level operations in a counter insurgency environment under United Nations Charter.

9. RBI inks information exchange MoU with Bank of Israel

1. The Reserve Bank of India (RBI) has signed a Memorandum of Understanding (MoU) with Bank of Israel (BOI) for exchange of information pertaining to banking supervision. It was signed by Parvathy V Sundaram, Chief General Manager-in-Charge, Department of Banking Supervision on behalf of RBI and Hedva Ber, Supervisor of banks on behalf of BOI. With this RBI has signed 32 such MoUs, 1 Letter for Supervisory Co-operation and 1 Statement of Co-operation (SoC). 

2. By signing such MoU/SoC with supervisors of other countries, RBI is seeking to promote greater co-operation and share supervisory information among the authorities.

10. Brazil musician Nana Vasconcelos passes away

1. Acclaimed Brazil musician Naná Vasconcelos passed away due to lung cancer in the northeastern Brazilian city of Recife. He was 71. 

2. He was 8 time Grammy Award-winning Brazilian percussionist known for his wide instrumental range and major role in free spirited jazz and world music of the 1970s and 1980s.

11. Beatles Producer George Henry Martin passes away

1. The legendary music producer George Henry Martin passed away in Wiltshire, England. He was 90. He was popularly known as the fifth Beatle as he had signed the rock band Beatles and became their indispensable mentor and collaborator.

:: National ::

Art of living event gets go ahead after fine

• Imposing an initial fine of Rs. 5 crore, the National Green Tribunal (NGT) gave the go-ahead to the ‘World Culture Festival’, a three-day cultural extravaganza being organised by Sri Sri Ravi Shankar’s Art of Living Foundation on the flood plains of the Yamuna.
• It also directed the Art of Living to bear the cost of restoring the area into a biodiversity park after the completion of the event, holding it responsible and liable for the damage caused to the environment, ecology, bio-diversity and aquatic life of the river.
• The green watchdog also pulled up the Delhi Pollution Control Committee (DPCC) and the Delhi Development Authority (DDA), stating that they hadn’t discharged their statutory functions.
• The Tribunal directed Art of Living to give an undertaking by Thursday that enzymes will not be released into the Yamuna and no further degradation of environment will happen.
• Art of Living said that it would file an appeal in the Supreme Court against the fine. A spokesperson said: “The festival will go on as planned and since we have not violated any rules we will appeal against the NGT order.”

T20 World Cup match between India-Pak shifted to Kolkata

• The uncertainty over the India-Pakistan World T20 match in Dharamshala was cleared when ICC CEO Dave Richardson announced that the match, to be played on March 19, would be shifted to Eden Gardens in Kolkata.
• The decision has been taken for security reasons, following consultations with the BCCI, the State associations, the ICC and BCCI security consultants.
• The ICC and the BCCI understand the disappointment that is likely to be felt by many over the decision to move the match.
• But the safety and security of the event is of paramount importance to the ICC and we have taken into consideration the concerns shared with us by our security advisers as well as the Pakistan Cricket Board.
• Chief Minister Virbhadra Singh had opposed any India-Pakistan match as a mark of respect for the two martyrs from Himachal Pradesh killed at the Pathankot airbase in January.

The Enemy Property (Amendment and Validation) Bill, 2016 passed in lower house

• The Lok Sabha passed a Bill to amend a 48-year-old law to guard against claims of succession or transfer of properties left by people who migrated to Pakistan and China after the wars.
• The Enemy Property (Amendment and Validation) Bill, 2016, which amends the Enemy Property Act, 1968, was passed by voice vote amid the government’s assertion that the measure should not be seen from the prism of religion or caste.
• It does not pertain to Pakistan alone, but also to those Chinese who left India after the 1962 China-India War. Even their property comes under the ambit of this Bill.
• In the wake of the India-Pakistan war of 1965 and 1971, there was migration of people from India to Pakistan and under the Defence of India Rules framed under the Defence of India Act.
• The government of India took over the properties and companies of such persons who had taken Pakistani nationality. These enemy properties were vested by the Union government in the Custodian of Enemy Property for India.
• The amendments include that once an enemy property is vested in the Custodian, it shall continue to be vested in him as enemy property irrespective of whether the enemy, enemy subject or enemy firm has ceased to be an enemy due to reasons such as death.
• The new Bill ensures that the law of succession does not apply to enemy property; that there cannot be transfer of any property vested in the Custodian by an enemy or enemy subject or enemy firm and that the Custodian shall preserve the enemy property till it is disposed of in accordance with the Act.
• The amendments are aimed at plugging the loopholes in the Act to ensure that the enemy properties that have been vested in the Custodian remain so and do not revert to the enemy subject or firm.

No labour inspection in Start-ups for three years

• Start-ups will be exempted from inspection by labour inspectors for up to three years if they give a self-declaration that they are complying with nine labour laws.
• The nine labour laws include Industrial Disputes Act, 1947, Trade Unions Act, 1926, Building and Other Constructions Workers’ (Regulation of Employment and Conditions of Service) Act, 1996 and Industrial Employment (Standing Orders) Act, 1946.
• From the second year onwards and up to three year from the time they were set up, such start-ups would be required to furnish self-certified returns.
• They would be inspected only if credible and verifiable complaint of violation was filed in writing and approval was obtained from the higher authorities.

:: International ::

Sri Lankan Parliament adopted resolution to convert itself into a Constitutional Assembly

• The Sri Lankan Parliament adopted unanimously a resolution to convert itself into a Constitutional Assembly.
• Introduced by Prime Minister Ranil Wickremesinghe in January, the resolution, since then, has undergone a number of changes on the basis of amendments proposed by the Sri Lanka Freedom Party, Joint Opposition and the Janatha Vimukthi Peramuna.
• However, the amendments did not affect the essence of the original resolution, asserted Jayampathy Wickramaratne, Member of Parliament and who heads a committee at the Prime Minister’s Office to provide technical support to the Constitution-making process.
• Though the preamble of the original resolution, which talked of providing a Constitutional resolution of the Tamil question, has been removed, Dr. Wickramaratne said “everything would be on the table [for discussion]”.
• The abolition of executive presidency and the introduction of electoral reforms are among the subjects which were likely to be covered during the process.

:: Science and Technology ::

Artificial fingertip for texture

• A team of Swiss scientists has enabled an amputee feel smoothness and roughness in real-time with an artificial fingertip that was surgically connected to nerves in his upper arm.
• The nerves of non-amputees were also stimulated to feel roughness, meaning that prosthetic touch for amputees can now be developed and safely tested on anyone, said the team from the Swiss Federal Institutes of Technology (EPFL).
• Mr. Sorensen is the first person in the world to recognise texture using a bionic fingertip connected to electrodes that were surgically implanted above his stump.
• Nerves in his arm were wired to an artificial fingertip equipped with sensors.
• As the fingertip moved across textured plastic, the sensors generated an electrical signal. This signal was translated into a series of electrical spikes, imitating the language of the nervous system, then delivered to the nerves.

:: India and World ::

PM Modi’s visit to US will revive the India-U.S. tie

• Foreign Secretary S. Jaishankar visited the U.S. capital ahead of Prime Minister Narendra Modi’s visit scheduled for later this month.
• “The visit was aimed at reviewing the India-U.S. bilateral relations and preparing for India’s participation in the forthcoming Nuclear Security Summit later this month”, said a statement by the Indian embassy.
• The visit comes amid India’s efforts to stop the U.S. from selling eight F-16 fighter planes to Pakistan.
• Talks between the two countries on three key defence agreements are also progressing ahead of U.S. Defence Secretary Ashton Carter’s visit to India in April.
• In a meeting with U.S. National Security Adviser Susan Rice, he discussed bilateral relations and cooperation against terrorist groups such as Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM).

:: Business and Economy ::

Ministry of Shipping expects to sign major pacts in summit

• The government is expected to sign agreements worth over Rs. 72,000 crore with private players on port-related projects at the Indian Maritime Summit to be held in Mumbai next month.
• The Ministry of Shipping has identified 109 projects worth Rs.72,864 crore on which agreements will be signed during the event to be held from April 14-16. South Korea will be the partner country for the Summit.
• The sectors identified for investment include ship-building, ship repair and recycling, port modernisation, new port development and multi-modal logistic hubs among others.
• In addition, more than 150 projects will be showcased for investment under the Sagarmala Project for port modernisation.
• Govt. is planning to create 40 lakh direct employment and 50 lakh indirect employment (opportunities) in five years in the maritime sector.
• The Shipping Minister said logistic cost is hurting India, while logistic cost was 18 per cent in India, it was 8-10 per cent in China and 10-12 per cent in European countries.
• “If development near ports happen and we are able to cut the logistic costs by four per cent, the exports will double,” the Minister said.
• Under the Sagarmala Project, the major development programmes identified by the government include port modernisation (Rs. 90,000 crore), port connectivity (Rs.1.20 lakh crore) and port-led industrialisation (Rs.90,000 crore) besides coastal community development.

Give it Up campaign a major success

• More than 80 lakh households have given up LPG subsidy under the ‘Give it Up’ scheme, as of March 3, 2016. The ‘Give it Up’ campaign is part of the government’s endeavour to reduce its LPG subsidy bill.
• Under the scheme, LPG users who can afford to pay the market rate for the fuel are encouraged to give up their subsidy.
• The government, on its part, has promised to use the savings from this to provide more LPG connections to the unconnected.
• More than 53 lakh consumers have voluntarily surrendered subsidy on LPG in the last six months.
• Oil Marketing Companies (OMCs) are making efforts to target the higher income group (taxable income of more than Rs.10 lakh) using technology and available information.
• Consumers are also provided with on-line facility to declare their income and submit their self-declaration in the prescribed form to distributors if the taxable income of self or his/her spouse exceeds Rs.10 lakh.
• The ‘Give it Up’ campaign goes hand-in-hand with the government’s Direct Benefit Transfer in LPG wherein the subsidy amount is directly transferred to beneficiaries’ bank accounts, thereby reducing the scope for leakage.

Government raises fund limits to seed start-ups

• The Department of Science and Technology (DST) may invest up to Rs. 1 crore in every fresh start-up that it will seed from the next financial year.
• The DST’s outlay for seeding has been increased four-fold—from Rs. 40 crore to Rs.180 crore—in the coming financial year to help fund the increased investment.
• Currently, the maximum permissible investment is Rs.50 lakh. Promoting start-ups has been among the government’s major promises with Prime Minister Narendra Modi frequently asking India’s youth to become more entrepreneurial.
• On 16 January, Mr.Modi addressed a massive gathering of entrepreneurs from India and abroad and outlined several initiatives to energise India’s start-up ecosystem including making the profits of fledgling units tax-free for three years, Rs.10,000 crore of government funding over four years, no visits by labour inspectors for three years and quicker and subsidised patent clearances.
• As of 2014 — the latest available report — 68 Science Technology and Entrepreneurship Parks (STEPs) and TBIs are located across India.
• According to the latest figures from the science ministry, about 2000 ventures have been incubated of which 950 have “graduated,” meaning they have reached a certain size and have a significant support from investors.
• Some of the incubators, said Mr.Sharma, who are known to have a successful track record in incubating companies will be deemed “World Class Incubators” and can annually avail of Rs. 10 crore for five years

1. Cabinet Approves Rs 8,000 Crore For Rural LPG Under PMUY Scheme

i. The Cabinet headed by Prime Minister Narendra Modi has approved Pradhan Mantri Ujwala Yojana with an outlay of Rs 8,000 crore for three years, Oil Minister Dharmendra Pradhan told on Thursday. 

ii. Under the scheme, the government will spend Rs 8000 crore to provide LPG connections to rural households. On Wednesday, the government said that over 80 lakh people have voluntarily given up LPG subsidy.

iii. Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan told the Rajya Sabha that as part of 'GiveItUp' campaign that the ministry initiated, around 53 lakh giving up in the past six months alone.

iv. The scheme aims to provide on a war footing LPG connections to women members of BPL families. Mr. Dharmendra Pradhan said that the move is aimed at empowering women and protecting their health.

v. The ministry said that the oil marketing companies have been targeting people with over Rs 10 lakh income to give up the subsidies. The ministry said, "For top 10 metros of the country, where most of the high income tax payers are likely to be residing, a suitable question has been built in the SMS platforms for ascertaining the income status of the LPG consumers. During telephonic calls also for refills, this is being done. 

2. India And Indonesia To Conduct Joint Training Exercise "Garuda Shakti IV"

i. Garuda Shakti, the 4th edition of joint training exercise between India and Indonesia will be hosted by Indonesia. 

ii. The 13-day long joint exercise will begin from today and will end on March 23 at Magelang, Indonesia. The exercise is conducted on a reciprocal basis and its first edition was conducted in the year 2012 in India. The second edition was conducted in Indonesia in 2013 and third in India in 2014. 

iii. The exercise is aimed at building and promoting positive relations between the two Armies of India and Indonesia. The Indian Army is sending a platoon strength contingent that will be training with the Airborne battalion of the Indonesian Army. 

iv. The exercise will be on a joint counter insurgency operation with the setting of both rural and urban scenarios. The exercise will "enhance" the abilities of both the armies to undertake counter insurgency operations under the United Nations Charter.

v. The opening ceremony for the exercise will be conducted on 11 March 16 and the Senior officers from the army and civilian dignitaries of both the country will be the part of the closing ceremony.

3. Cabinet Clears Amendment To MMDR Act

i. The Union Cabinet approved amending the Mines and Minerals (Development and Regulation) Act to regulates mining sector activities in the country. 

ii. The move would allow transfer of mining lease for captive mines as compared to the present scenario where transfer of mining lease is only for auctioned mines.

iii. The MMDR Act passed by Parliament in March last year and only allows transfer of mining leases in cases where the mine has been acquired through auction. 

iv. But now through the amendment, the government wants to insert a clause that says: “Provided that where a mining lease has been granted otherwise than through auction and where minerals from such mining lease is being used for captive purpose such mining lease will be permitted to be transferred subject to compliance with terms and conditions as prescribed by central government.”.

v. After the enactment of the amended MMDR Act on January 12, 2015, all mining leases in the country could only be issued after a competitive bidding process. Under the amended Act, even in case of mergers and acquisitions, transfer of mineral leases was only allowed for those that have been auctioned. 

4. Centre To Sign Pacts Worth Over Rs.72,000 cr At Shipping

i. Central government is expected to sign agreements worth over Rs. 72,000 crore with private players on port-related projects at the Indian Maritime Summit to be held in Mumbai.

ii. The Shipping  Ministry has identified 109 projects worth Rs.72,864 crore on which agreements will be signed during the event to be held from April 14-16.

iii. According to Road Transport, Highways and Shipping Minister Nitin Gadkari South Korea will be the partner country for the Summit. Prime Minister Narendra Modi will inaugurate the summit on April 14.

iv. To promote port-led direct and indirect development and to provide infrastructure to transport goods to and from ports quickly, efficiently and cost-effectively. 

v. Supporting and enabling Port-led Development through appropriate policy and institutional interventions. Port Infrastructure enhancement, including modernization and setting up of new ports.

5. PSUs Spent Over Rs 2400 Crore In CSR In 2014-15

i. Government of India has announced today that in 2014-2015, 116 Public Sector Enterprises (PSUs) have spent an amount of rs. 2447.59 Crore on Corporate Social Responsibility (CSR) activities and no complaint has been received on misuse of these funds.

ii. Today, Anant Geete the Heavy Industries and Public Enterprises Minister  said in Rajya Sabha during the question hour after several members expressed concern over media reports suggesting that there have been misuse of CSR funds, especially by private companies.

iii. Geete told the members that he understood their concerns and added that he was not ruling out the possibility of misuse. He however added that his ministry had received no "written" complaint regarding which could be acted upon. Speaking about companies in the private sector, he said the government did not control these companies, but has issued guidelines. "If there is a specific complaint, we can act on it," he said.

iv. As members voiced concern about the spending of funds in the private sector, Geete said his ministry was the nodal department for the public sector enterprises. v. Geete also said that meetings to monitor the spending of these funds are held every six months. 

6. Five Healthcare ATMs Launched in 4 States

i. Five healthcare ATMs have come up in four states. Those states are MP, Himachal Pradesh, Odisha and Andhra Pradesh. 

ii. These ATMs are ging to come up under a Health Ministry pilot that combines telemedicine with a rudimentary free drugs programme. 

iii. The health ministry is aiming that these ATMs would tide over the massive shortage of doctors in the country. It will also save from the risk of pilferage in free drugs programmes. 

iv. For these ATMs technical support is being provided by the division of healthcare technology and National Health Systems Research Centre.

v. These ATMs will be manned by a multipurpose public health worker (MPHW) or an auxiliary nurse midwife (ANM) armed with a multi-parameter patient vital monitor and other devices required for checking basic health parameters. 

7. Government mulls policy to promote wind energy projects

i. In Order to propel the Wind Energy Potential in India, Union government will soon unveil a policy to give incentives including an interest discount of 0.25 % for increasing capacity of Wind mills of up to 1MW.

ii. Objective of the policy is to promote optimum utilisation of wind energy resources by creating facilitative framework for repowering, as per the draft. 

iii. It said most of the wind-turbines installed up to the year 2000 are of capacity below 500 kW and are at sites having high wind energy potential. 

iv. It is estimated that over 3000 MW capacity installation is from wind turbines of 500 kW or below.

8. Government To Divest 5% Stake In Concor

i. The government will divest 5 per cent stake in Container Corporation of India (Concor) through the offer for sale (OFS) route. 

ii. The center has set the base price for the stake sale at Rs 1,195, which will help the government mop up around Rs 1,165 crore.

iii. Concor’s OFS follows Rs 5,000-crore worth of divestment in NTPC late February. So far this fiscal, the government has risen around Rs 18,300 crore by divesting stake in six public sector undertakings. 

iv. Retail investors are being offered a 5 percent additional discount. Retail bidding will take place on 9th of March.

v. Container Corporation of India Ltd. (CONCOR),is a Navratna Public sector undertaking under the Indian Ministry of Railways. 

9. Railways Forms SPV To Execute Bullet Train Project

i. Railways shifting the gears to introduce trains that run at speeds around 320 kmph, the railways have formed a new Special Purpose Vehicle (SPV) to implement the Mumbai-Ahmedabad High Speed Bullet Train project named the National High Speed Rail Corporation Limited.

ii. Completion of the project aimed on time to avoid additional expenses of the project, a Joint Committee has been formed under the Vice-Chairman of NITI Aayog with the secretaries of the Department of Industrial Policy and Promotion (DIPP), Departments of Economic Affairs and Foreign Ministry as its members along with the Chairmanof Railway Board.

iii. The project expected that it will take about seven years after the awarding of the contract for the project to be completed, 81 per cent of the funding for the project would come from the loan from Japan. 

iv. It is a soft loan for 50 years at 0.1 per cent annual interest with 15 years’ moratorium period

10. YES BANK launches All-Women ‘YES Grace’ branches

i. Private lender Yes BankBSE -0.18 %  launched an all-women operated bank branch 'Yes Grace' on Cunningham Road here aimed at offering customised banking solutions to women.

ii. The new branch served by 8 employees currently and with plans to raise the count to 12 will also drive financial literacy, family banking, safety and wellness amongst women. 

iii. According to Rana kapoor CEO and MD Of YES BANK "The Yes Grace branch is part of a two pronged approach by Yes Bank; to promote women leadership in financial services sector and enable the evolving financial objectives of women,"

11. Gujarat Top State Regarding Investment Potential

i. Gujarat has topped the list among the 21 cities in a race to be the best state in India having an investment potential,according to the report submit by economic think tank NCAER.

ii. Gujarat is followed by Delhi, Tamil Nadu, Andhra Pradesh, and Maharashtra. The lowest in the rankings are the UP, Bihar, and Jharkhand.

iii. The rankings of the 21 cities were done on five factors political stability, infrastructure, economic climate, governance, and perceptions.

iv. Gujarat, Delhi and Tamil Nadu are the best places to make fresh investments in India, while Jharkhand, Uttar Pradesh and Bihar lag on this front, a latest survey by think-tank National Council of Applied Economic Research (NCAER) has revealed.

12. IAF To Get The First Batch Of Women Fighter Pilots In June

i. Indian Air Force Air Chief Marshal (ACM) Arup Raha announced while speaking on the occasion of the International Women’s Day.

ii. Bhawna Kanth, Avani Chaturvedi, and Mohana Singh are likely to create history as India’s first women fighter pilots if they put on the wings and are inducted into the IAF fighter stream. Who among the three, or all of them, make the final cut depends on them clearing the advanced stage training.

iii. The three women trainees have volunteered to join the fighter stream. 

iv. They are under the second phase of their training. 

v. Once they complete their training and are on par with their male colleagues and the passing out parade is scheduled on June 18.

13. S Rao Will Take Over As The New Chairman And Public Interest Director Of BSE

i. Sudhakar Rao will be the new Chairman of BSE and new Public Interest Director announced by BSE. He is going to replace Mr. S Ramadorai. 

ii. As Mr. Ramadorai has retired from the position of its Chairman. 

iii. He was appointed as public interest director and chairman of the board in 2010 and retired on 7 March 2016 after serving BSE for six years.

iv. Currently there are five Public Interest Directors on the BSE's Board including eminent chartered accountant Sethurathnam Ravi who was appointed last month. 

v. Presently, Rao is also an independent director on the boards of Indian Oil Corporation, CMC Ltd and L&T Infrastructure Development Projects Ltd. He is the Group Advisor, Strategy and Development of the Manipal Education and Medical Group. 

14. Sonakshi Sinha Enters Guinness World Record For Nail Painting

i. Actress Sonakshi Sinha has become a Guinness World Records title-holder as she along with several other women participated in an initiative to set a record for ‘most people painting their fingernails simultaneously’.

ii. The 28-year-old actress participated in the event on the occasion of International Women’s Day.

iii. She collaborated with Inglot, manufacturers in colour cosmetics, and its Indian franchise partner Major Brands. 

iv. The women broke the previous record of 1,156 people painting nails simultaneously which was created by Taiwan Nail Association at Banqiao Stadium, New Taipei City, Taiwan on April 27, 2011.

15. George Henry Martin "The Beatless Producer" Passed Away

i. The legendary music producer George Henry Martin has passed away in England. He was 90 years old. 

ii. He was popularly known as the "Fifth Beatle" as he has signed the Beatles and became their indispensable mentor and collaborator. George has signed The Beatles and produced more than 700 records.  

iii. Mr. Henry Martin has worked with countless others over a career that spanned decades, including Peter Sellers, Shirley Bassey, America, Cheap Trick, Jeff Beck and Celine Dion. But he become famous for Beatles as he spend 7 years with Beatles.

iv. The Beatles was the most successful group in the music history. Beatles was a group which helped Mr. Henry Martin to be at top spot with his musical expertise, tasteful arrangements and willing experimentation.

v. In the year 1967 and 2007 he has won 6 Grammy Awards in various categories. He was also made a Knight Bachelor in 1996. He was named by the Guinness World Records as the most successful producer ever with more than 50 Numbers.

16. Rest of India complete record run chase to beat Mumbai by 4 wickets

i. Rest of India (ROI) pull off an incredible chase to beat 41 times Ranji Trophy champions Mumbai by four wickets. 

ii. Needing 480 to win the match with a day and a half to go, ROI went about their job without much fuss as they reached the target with just a few overs left in the match. 

iii. Left-arm spinner Iqbal Abdullah picked up five wickets in the fourth innings, but his team fell short in the end. 

iv. This is not only ROI’s highest score in the fourth innings, but also their highest successful run chase, with the previous best being 273 for 4 against Baroda in 2001, under the leadership of VVS 

v. ROI were bowled out for 306 in their first innings, thereby conceding a lead of 297 runs. Mumbai did not enforce the follow-on, but were bowled out for just 182, thereby setting ROI a target of 480. No other bowler barring Abdullah managed to pick up a single wicket as ROI romped home.

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