Extensive Coverage Of Current Affairs 17/3/2016

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NATIONAL:

PM Modi to inaugurate World Sufi Forum:

·         Prime Minister Narendra Modi will inaugurate the World Sufi Forum in New Delhi where more than 200 Indian and international delegates, including Sufi Shuyukh, spiritual leaders, scholars, academicians and masters of Sufism, are participating. 

·         The four-day event is being organized by All India Ulama and Mashaikh Board (AIUMB), the apex body of Sufi Dargahs in India.

LS passes Bill to include more communities in Schedule Caste:

·         The bill to include certain communities in the list of Scheduled Castes (SC) in Chhattisgarh, Haryana, Kerala and West Bengal was passed by the Lok Sabha.

Haryana New Secretariat Building gets First Earthquake Warning system in country:

·         Haryana’s new secretariat in Chandigarh has become the only building in the country to have an early earthquake warning and security system (onsite). 

·         The system is already being used in 26 countries around the world and can provide crucial seconds for evacuation in event of an earthquake. 

·         Installed and demonstrated by a team from Terra Techcom Private Limited, New Delhi, and Secretary Electronics GmbH, Germany, who have collaborated with India for the project, the system uses a master and a submaster device which prevents false alarms and a six-horn siren at the terrace with a 6-km range. 

Over Rs 1 lakh crore disbursed under MUDRA Yojana:

·         Under Pradhan Mantri Mudra Yojana Loans worth Rs1.09 lakh crore have been sanctioned  to small entrepreneurs, loans worth over Rs.1.09 lakh crore were given to over 2.96 crore beneficiaries.

·         MUDRA Yojana, which was launched in April last year, loans between Rs.50, 000 andRs.10 lakh are provided to small entrepreneurs.

·         The Micro Units Development and Refinance Agency Ltd (MUDRA) focuses on the 5.75 crore self-employed who have deployed funds totalling Rs.11 lakh crore and provide jobs to 12 crore people.

Centre’s Nod for Mega Food Park in Khammam:

·         Union Government has given final approval for setting up a Mega Food Park in Khammam District of Telangana to facilitate creation of modern infrastructure for food processing along the value chain from the farm to the market.

·         This is the first Mega Food Park in Telangana and set up with the project cost of Rs. 108.95 crore in an area of 78 acres.

Akhilesh Yadav launches perfumes to mark 4 yrs of Government in UP:

·         Uttar Pradesh Chief Minister Akhilesh Yadav launched a range of four perfumes, branded 'Samajwadi Sugandh', to mark four years of his government in the state.

·         Each bottle of perfume captures the fragrance of four different cities — Agra, Lucknow, Benares and Kannauj,” Yadav said. The perfume will only be available to State ministers and bureaucrats.

Indian Oil firms sign $4.2 bn deals with Rosneft:

·         State-owned oil firms including ONGC, Indian Oil, Bharat Petroleum and Oil India have signed deals worth an estimated $4.2 billion with Russian oil major Rosneft to purchase stakes in two Siberian oil and gas fields run by the firm.

·         The deals, which were announced, were signed during Rosneft's chairman Igor Ivanovich Sechin's visit to Delhi.

Bodh Gaya to host Buddhist Conclave from Mar 29:

·         Bodh Gaya will host a Buddhist Conclave during March 29-31.

·         The conclave will be organised by the Federation of Associations in Indian Tourism and Hospitality (FAITH) in collaboration with the Ministry of Commerce and the Ministry of Tourism.

·         It aims to develop the Buddhist Circuit in UP and Bihar in India, and Nepal, with foreign investment in the segment.

Modi among TIME's 30 influential on internet:

·         Prime Minister Narendra Modi is among the 30 most influential people on the Internet, said TIME magazine, describing him "an Internet star" with over 18 million Twitter followers and 32 million Facebook likes.

·         Modi is being listed by the magazine for the second time in a row. The unranked list also includes Donald Trump, JK Rowling, Cristiano Ronaldo among others.

FDI proposals worth 49k Crore till Jan in 2015-16:

·         India has received 424 FDI proposals worth 48,902 Crore, till January, in the ongoing fiscal, in sectors where FDI is permitted under government approval route, Commerce Minister Nirmala Sitharaman said.

·          In comparison, 344 FDI proposals worth 44,005 Crore were received in 2014-15, she added. FDI in India comes through the automatic route and through government approval.

India ranks 118 out of 156 on UN happiness index:

·         According to the World Happiness Report 2016 published by the United Nations, India has ranked 118th out of 156 nations in a global list of happiest nations.

·         While Denmark has topped the list as the happiest country in the world, India has slipped down one slot from last year. Notably, countries like China, Pakistan and Bangladesh are ahead of India.

Pawan Hans, IRCTC join to boost Chopper tourism:

·         State-owned Pawan Hans has signed a Memorandum of Understanding (MoU) with IRCTC to implement the 'heli project' to promote helicopter tourism in India.

·         The MoU envisages both sides to jointly identify areas of cooperation and enable selling of online tickets for regular and chartered helicopter services and joy rides. Pawan Hans is a PSU of the Civil Aviation Ministry.

Punjab notifies swine flu under Epidemic Disease Act:

·           under the Epidemic Disease Act. 

·         The notification issued by the Health and Family Welfare Department said all hospitals (government as well as private) will have to inform the Department of Health about a case of ILI (Influenza like Illness) having chronic diseases, so that such cases are treated at the earliest and proper guidelines of the government is followed.

Assam polls: Polling booth to be set up for leprosy patients at Boko

·         In Assam, as per Election’s Commission order, Kamrup district administration will set up a polling booth for leprosy patients and medical staff at Boko.

·         Election Commission has instructed administration to set up separate polling booth for the inmates and staff working in leprosy hospital.

AndhraPradesh to set up aviation academy at Puttaparti:

·         Andhra Pradesh government, with the support of the Centre, will set up an aviation academy at Puttaparti in Anantapuramu district.

·         This was announced by Andhra Pradesh Chief Minister N Chandrababu Naidu in Hyderabad. The academy would come up on a 150-acre site in the next three months.

·         The state government would also develop five regional airports at Kuppam, Dagadarthi, Donakonda, Orvakallu and Nagarjuna Sagar.

Government to allot 16 Coal mines to PSUs for Commercial Mining:

·         Government will allot 16 coal mines to Public Sector Undertakings (PSUs) for commercial mining.

·         Of these 16 blocks earmarked for State PSUs for sale of coal, five mines are in Madhya Pradesh, three in Telangana, two blocks each in Chhattisgarh, Jharkhand and Maharashtra, and one each in Odisha and West Bengal.

NITI Aayog bats for PPP to improve Health services:

·         NITI Aayog has favoured public private partnership (PPP) model to improve health services in the country.

·         The Government’s think tank has also suggested extension of the Right to Education (RTE) Act to the pre-primary levels.

·         The Aayog recently made presentations to Prime Minister Narendra Modi on Health and Education sectors. It has also asked the Prime Minister for online tracking of hospital performance.

Telecom Minister to launch BSNL Wi-Fi facility at Vaishno Devi:

·         Telecom Minister Ravi Shankar Prasad will launch BSNL wi-fi facility at Mata Vaishno Devi Shrine in Jammu and Kashmir.

·         It will be BSNL’s 1,000th hotspot in the country. BSNL plans to set up 2,500 wi-fi hotspots in 250 locations at a cost of Rs 500 crore in the current fiscal.

·         As part of the Digital India programme, the government is working towards enabling all cities, with a population of over one million, tourist centres and religious places with wi-fi hotspots.

50,000 toilets for women in Mumbai soon:

·         Maharashtra government has decided to make Mumbai open defecation free.

·         Chief Minister Devendra Fadnavis announced in state assembly that the government will build 50,000 toilets in Mumbai for women in the next three years.

Paswan to launch Online System for Food Storage Depots:

·         Union Food Minister, Ram Vilas Paswan will launch ‘Depot Online System’ at Food Corporation of India (FCI) Depot, Mayapuri in New Delhi.

·         The project aims to transform food supply chain management through innovative use of technology. Foodgrains management including its stock and movement will be available now on a real time basis.

181 aircraft to take part in IAF’s Iron Fist exercise:

·         Indian Air Force (IAF) will conduct its combat exercise Iron Fist 2016 at Pokhran in Rajasthan.

·         The exercise will see the participation of 181 aircraft including Sukhoi Su-30 MKI and two variants of the Light Combat Aircraft (LCA) Tejas.

·         Live demonstration by IAF Guards and special heliborne operations will be a highlight of the exercise. Iron Fist is the biggest fire power exercise of the IAF.

Modi to join world leaders in wax at Madame Tussauds:

·         Prime Minister Narendra Modi will join the ranks of prominent global leaders at Madame Tussauds in London, Singapore, Hong Kong and Bangkok next month, the world famous wax museum announced today.

·         The wax figures at each of the museum’s locations around Europe and Asia will be dressed in Modi’s “signature kurta” in cream with a jacket and he will be featured in atraditional pose “making a namaste gesture”.

·         A new branch of Madame Tussauds is also set to open in New Delhi as part of the India-UK Year of Culture in 2017, announced during Prime Minister Modi’s visit to the UK last November.

INTERNATIONAL:

Obama Chooses Merrick Garland for Supreme Court:

·         President Obama nominated Merrick B. Garland to be the nation’s 113th Supreme Court justice. The Supreme Court vacancy follows the death of Antonin Scalia last month.

·         Mr Garland was appointed by Democratic President Bill Clinton in 1997, winning confirmation in a 76-23 Senate vote, and served in the Justice Department during the Clinton administration prior to that.

US imposes New Sanctions on North Korea after recent Nuclear Test:

·         The US President Barack Obama has issued an executive order imposing new sanctions on North Korea after its illicit nuclear test and satellite launch.

·         It freezes North Korean government property in America and bans US exports to or investment in North Korea. 

India became Second biggest investor in London:

·         London & Partners, the official promotional company for London, announced that India has emerged as the second biggest investor in London after the US.

·         The company revealed that there has been a 117 per cent increase in Indian companies across all business sectors investing in London since 2005. Also, there has been a 133 per cent increase in tech companies investing in the city, which accounts for 46 per cent of all projects.

·         The figures were released at the inaugural India Emerging 20 (IE20) event that brought together leading entrepreneurs from India and Britain.

4 Indians in WEF global leaders list of 2016:

·         The World Economic Forum (WEF) has named four Indians in its list of 121 Young global leaders aged under 40.

·         Kanika Dewan, President of Bahrain-based Bramco Group, Dhivya Suryadevara, CEO of US-based GM Asset Management, Sheetal Amte-Karajgi, CEO of Baba Amte-founded Maharogi Sewa Samiti and Shaurya Veer Himatsingka, deputy MD, India Carbon, are the Indians featured in the list.

APPOINTMENTS:

Nepal To Have Its First Woman Chief Justice:

·         Nepal is on a gender equality drive as it chooses its first woman Chief Justice, in a row of selecting women to top posts. Recently, the country got its first woman President and Speaker.

·         Sushila Karki, the senior most of the judges in the Nepal’s Supreme Court has been nominated for the top post by the judicial council chaired by the Prime Minister, K P Oli.

·         She will take charge as Nepal’s first woman President Bindya Bhandari, endorses her nomination and the Current Chief justice, Kalyan Shreshtha retires.

Ashley Judd appointed UN Goodwill Ambassador:

·         Ashley Judd was appointed by the United Nations as their latest Goodwill Ambassador.

·         The 47-year-old held a press conference at the UN in New York to make the announcement along with UNFPA (United Nations Population Fund) Executive Director Dr. Babatunde Osotimehin.

Michelle Yeoh appointed UNDP Goodwill Ambassador:

·         Award-winning action heroine Michelle Yeoh has been appointed as United Nations Development Programme (UNDP) Goodwill Ambassador. The UNDP works to eradicate poverty and reduce inequality.

·         The actress will focus on raising awareness and mobilising support for the recently-launched Sustainable Development Goals (SDGs).

BANKING :

RBI is likely to pay 57000 crores as dividend to the Government:

·         The Reserve Bank of India is likely to pay the Government Rs 57,000 crore in dividends in the fiscal year 2016-17.

·         The amount paid is slightly lesser than the previous fiscal year but much higher than the previous years.

·         Last year, the government received Rs.73,905 crores as dividends from various state owned banks and the RBI.

·         This fiscal year it has estimated to receive Rs.69,897 crores.

SBI partners with Uber for Instant Vehicle Financing:

·         Public sector lender SBI has tied up with taxi-aggregator Uber to provide instant vehicle finance to ‘driver-partners’ on the latter’s platform.

·         The scheme would encourage skilled drivers to overcome liquidity crunch and excess documentation requirements to become an entrepreneur.

·         All loans will be covered under the government’s Pradhan Mantri Mudra Yojana Scheme, SBI said in a statement.

·         SBI Managing Director Rajnish Kumar said the new facility would enable drivers to apply for loans at the Uber Partner Centre and get loans sanctioned in one day.

HDFC Bank launches Banking Solution for Startups:

·         HDFC Bank Ltd has launched SmartUp, a dedicated banking solution for startups,  in association with Zone Startups India, a startup accelerator in Mumbai.

·         SmartUp is tailored to meet all the requirements of a startup – offering banking and payment solutions, along with advisory and forex services.

·         The move is done in a bid to create an ecosystem to nurture the spirit of innovation and enterprise in the startup space.

·         SmartUp is a complete banking solution for startups. 

IDBI starts India's 1st G-Sec facility via ATMs:

·         State-owned IDBI Bank launched India's first-of-its-kind facility which will allow retail customers of the bank to invest in government bonds (G-Sec) through the bank's ATMs.

·         Customers need to do a one-time registration to avail the facility. This is in line with "RBI's efforts towards broad-basing and expanding retail holding of government securities in the country", IDBI said.

PSUs to invest Over 10k crore in Mining sector:

·         Public sector units (PSUs) have proposed to invest more than 10,000 crore in the mining sector, Minister of State for Steel and Mines Vishnu Deo Sai said in a written reply in the Rajya Sabha.

·         He further said that Aluminium maker Nalco, Hindustan Copper Ltd and Mineral Exploration Corporation Ltd (MECL) have proposed an investment for the same.

US Federal Reserve holds interest rates steady:

·         The US Federal Reserve kept its key interest rate (overnight lending rate) stable at 0.25-0.5%

·         Inflation picked up in recent months," the Fed said in a policy statement. "However, global economic and financial developments continue to pose risks", it added.

SBI consortium starts e-auction of Vijay Mallya's Kingfisher House in Mumbai:

·         A consortium of 17 banks led by State Bank of India is conducting an e- auction of Kingfisher House situated near Mumbai’s domestic airport.

·         The property was owned by beleaguered businessman Vijay Mallya and used to function as the headquarters of Kingfisher Airlines.

·         The base price for the property that has a built-up area of over 17,000 square feet; has been set at Rs 150 crore.

BUSINESS AND ECONOMY:

Union Government imposes anti-dumping duty on Plastic-Processing imports:

·         Union government had imposed anti-dumping duty of up to 44.7 percent on import of plastic-processing machines from Chinese Taipei, Malaysia, the Philippines and Vietnam for five years.

·         To protect the domestic industry the duty will be levied on imports of all kinds of plastic-processing or injection-moulding machines.

Airtel to acquire Videocon spectrum for  4.4k cr:

·         Telecommunications operator Bharti Airtel entered into a definitive agreement to acquire Videocon Telecom's spectrum in six circles for 4,428 crore.

·         Post the deal, Airtel's 4G coverage will rise to 19 circles from the current 15. The acquisition comes a day after Idea Cellular and Videocon terminated their 3,310 crore spectrum deal for the latter's Uttar Pradesh and Gujarat circles.

Gamesa Wins Solar Order from Sri Lanka:

·         Wind turbine manufacturer, Gamesa, has won an order for putting up a 20 MW solar project in Sri Lanka, the company’s first solar job in the island nation. The plant is to be put up in Barunthankanda village in the Hambantota Province.

·         Gamesa, headquartered in Spain, is one of world’s leading wind turbine manufacturers. The company has installed over 2,000 MW of wind turbines in India and it also has a presence in Sri Lanka. The Sri Lanka solar order will be executed by Gamesa India.

AWARDS AND HONOURS:

British Professor Sir Andrew Wiles awarded Abel Prize:

·         British Professor Sir Andrew Wiles awarded Abel Prize for solving problem that baffled experts for three centuries. Sir Andrew’s discovery described as ‘an epochal moment for mathematics’. 

·         A British mathematician has been awarded one of the discipline’s top prizes for solving a problem that baffled experts for three centuries.

‘Carol’ named best LGBT film of all time by BFI:

·         The British Film Institute (BFI) has named the Cate Blanchett starrer film 'Carol' as the best Lesbian, Gay, Bisexual and Transgender (LGBT) movie of all time.

·         The film was chosen from over 30 movies released in the span of last 80 years by a panel of 100 film experts. Some other films in the list were 'Weekend' and 'Happy Together'

SCIENCE AND TECHNOLOGY:

Tomato waste may prove fuel of the future:

·         A team of scientists from Washington has found that rotten or damaged tomatoes could soon be rescued from the bin and used to generate electricity.

·         The team’s pilot project involves a biological-based fuel cell that uses tomato waste left over from harvests in Florida.

·         The team developed a microbial electrochemical cell that can exploit tomato waste to generate electric current.

SPORTS:

FIFA admits taking bribe for hosting World Cup:

·         FIFA is seeking to claim “tens of millions of dollars” in bribe money seized by U.S. federal prosecutors.

·         FIFA submitted a 22-page claim to the U.S. Attorney’s Office in New York that seeks a big share in restitution from more than $190 million already forfeited by soccer and marketing officials who pleaded guilty in the sprawling corruption case.

Gayle ton gives WI 6-wicket win over England:

·         In the first Group 1 match of the ICC World T20, West Indies defeated England by six wickets at the Wankhede Stadium, Mumbai.

·         Man-of-the-match Chris Gayle scored 100* (48), hitting 5 fours and 11 sixes to help the Windies chase down the target of 183 runs set by England, with 11 balls to spare.

Gayle records most number of T20I sixes:

·         West Indies player Chris Gayle recorded the most number of sixes in T20I cricket with 98 in 46 matches, surpassing Brendon McCullum's record of 91 sixes in 71 matches.

·         Notably, Gayle also became the first player to hit 50 sixes in World T20, the highest, ahead of Yuvraj Singh's 31.

AIFF to launch Under-13 I-League:

·         The All India Football Federation (AIFF) is contemplating on launching an Under-13 I-League.

·         The decision was taken at the Executive Committee meeting in New Delhi, after the proposal was given the green signal by President Praful Patel.

Anand loses India No. 1 ranking in nearly 30 yrs:

·         For the first time in close to three decades, Viswanathan Anand has lost his India number one ranking.

·         With a current Elo rating of 2763, Anand is narrowly behind Pentala Harikrishna’s 2763.3, after suffering a fourth round loss at the 2016 Candidates Championship in Moscow.

OBITUARY:

Shennai exponent Ustad Ali Ahmad Hussain Khan dies:

·         Eminent Shehnai exponent Ustad Ali Ahmad Hussain Khan, one of the best-known players of the instrument after the legendary Bismillah Khan, passed away in Kolkata following prolonged illness, he was 77.

·         Ustad Khan was felicitated with the Sangeet Natak Akademi Award for his contribution to Hindustani instrumental music.

·         The musician had also played at the inauguration ceremony of Doordarshan in 1973. .

Frank Sinatra Jr. Dead at 72:

·           and an artist himself, has died. He was 72.

·         His debut album, 1965’s Young Love for Sale, was understandably influenced by his father and was also released on Reprise, which was also his father’s longtime label home.

International Affairs

• According to the World Happiness Report 2016 published by the United Nations,India has ranked 118th out of 156 nations in a global list of happiest nations.
• India comes below nations like Somalia (76), China (83), Pakistan (92), Iran (105), Palestinian Territories (108) and Bangladesh (110).
• Denmark takes the top spot as the happiest country in the world.
• Top 5 countries in the list are
• Denmark
• Switzerland
• Iceland
• Norway
• Finland
• The US imposed new sanctions on North Korea today, after North Korea's recent nuclear tests. 
• The US can now freeze any property of the North Korean government in the US and prohibit export of goods to the country. However, the US has not had a comprehensive trade ban against North Korea and limited sales to North Korea were allowed.

National Affairs

• PM Narendra Modi today inaugurated the World Sufi Forum in Delhi. 
  
• The four-day event, organised by All India Ulama and Mashaikh Board, a body of Sunni Muslims in India, will see participation of Indian and International delegates, spiritual leaders, scholars and masters of Sufism.
• Bodh Gaya will host a Buddhist Conclave during 29th to 31st March 2016. 
• The conclave will be organised by the Federation of Associations in Indian Tourism and Hospitality (FAITH) in collaboration with the Ministry of Commerce and the Ministry of Tourism. 
• It aims to develop the Buddhist Circuit in UP and Bihar in India, and Nepal, with foreign investment in the segment.
• The Lok Sabha has passed a bill to amend the Mines and Minerals (Development and Regulation) Act (MMDR Act) to allow the transfer of captive mining leases that are not granted through auction. 
• The move will enable banks and financial institutions to sell stressed assets, where a company or its captive mining lease is mortgaged, to recover debts.

Awards & Honors

• The Surat railway station has been named the cleanest in India in the A1 category while Beas was named the cleanest in A category by a survey conducted by the Indian Railways. 
• The survey, conducted across 407 stations and based on the feedback of around 1.34 lakh passengers, classified the stations into 'A' and 'A1' categories based on their traffic.
• American singer-actress Selena Gomez topped by beating singer-songwriter Taylor Swift to become the most followed Instagram user, with a total of 69.4 million followers. 
• Swift currently has 69.2 million followers on the photo-sharing app. 
• Reality television star Kim Kardashian comes third in the list with a total of 63.7 million followers.
• Prime Minister Narendra Modi has featured in TIME magazine's '30 most influential people on the Internet' list for the second time in a row. 
• Modi, who has over 18 million Twitter followers and 32 million Facebook likes, has been described as an "internet star" by TIME.
• The World Economic Forum (WEF) has named four Indians in its list of 121 young global leaders aged under 40. 
• They are,
• Kanika Dewan, President of Bahrain-based Bramco Group, 
• Dhivya Suryadevara, CEO of US-based GM Asset Management, 
• Sheetal Amte-Karajgi, CEO of Baba Amte-founded Maharogi Sewa Samiti 
• Shaurya Veer Himatsingka, Deputy MD, India Carbon
• British Professor Sir Andrew Wiles awarded Abel Prize.
• He was honored with this award for solving a problem that baffled experts for three centuries. 
• Sir Andrew’s discovery described as ‘an epochal moment for mathematics’. 

MOUs

• The Indian Space Research Organisation (ISRO) today signed an MoU with theIndian Railways for "developing applications in the field of remote sensing and Geographic Information Systems (GIS)". 
• Under this, the railways will use space technology tools to provide passenger information systems in all trains. 
• Currently, it uses space technology to provide connectivity to Passenger Reservation System (PRS) counters at remote locations.

New Appointments

• Nepal is set to have its first woman chief justice with a judicial body today recommending Sushila Karki's name for the top post, months after the country got its first woman President and Speaker. 
• Important Point to Note :  Nepal already is in news for getting it's First woman president (Bidhya Devi Bhandari) and First woman Speaker (Onsari Gharti Magar).
• Brazilian President Dilma Rousseff named former President Luiz Inacio Lula da Silva as Chief of Staff.
• Award-winning action actress Michelle Yeoh has been appointed as United Nations Development Programme (UNDP) Goodwill Ambassador. 
• The UNDP works to eradicate poverty and reduce inequality.
• The actress will focus on raising awareness and mobilising support for the recently-launched Sustainable Development Goals (SDGs).
• Russell Adams, the Vice-President of Commercial Operations and Cricket Academy at Royal Challengers Bangalore (RCB), has been named as the new Director of Royal Challengers Sports Private Limited (RCSPL).
• He is going to replace Vijay Mallya, who has resigned his post as the Director today.
• US President Barack Obama has nominated veteran appeals court judge Merrick Garland to be the next US Supreme Court Justice.
• Ashley Judd was appointed as the United Nations latest Goodwill Ambassador.

Sports

• Senior Indian Hockey Women's team defender Deepika will replace Ritu Rani as the captain of the 18-member squad for the upcoming Hawke’s Bay Cup to be held in New Zealand from April 2.

:: NATIONAL::

Aadhaar Bill passed

• Even as the Opposition aired its concerns over the possibility of mass surveillance, Parliament passed the controversial Aadhaar Bill, 2016, after acrimonious debates in both Houses. In a day marked by high drama, hours after the Opposition succeeded in pushing through five amendments to the Bill in the Rajya Sabha, they were rejected in the Lok Sabha.
• The amendments were moved by Congress leader Jairam Ramesh, and were passed with a majority vote in favour.
• The amendments to the controversial Aadhaar Bill pushed through by the Opposition in the Rajya Sabha and later rejected in the Lok Sabha included one that sought to prevent disclosure of “biometric or demographic information” in the interests of “national security” which was seen as too sweeping. It was suggested that “national security” be replaced with “public emergency” or in the interests of “public safety.”
• Another amendment related to permitting individuals with Aadhaar numbers to opt out of the system, with the Central Identities Data Repository deleting all information and authentication records, and giving a certificate to that effect within 15 days.
• A third amendment provided for alternative identification for delivery of services, subsidies and benefits to those choosing not to enrol for an Aadhaar number.
• A fourth amendment mandated the inclusion of the Central Vigilance Commissioner or the Comptroller and Auditor-General in the Oversight Committee.
• The fifth amendment sought the deletion of a clause that allows the Aadhaar number to be used for purposes other than those provided in the Bill.
• The government’s contention is that the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Bill, 2016, would provide for good governance and efficient, transparent, and targeted delivery of subsidies, benefits and services. The Opposition wanted the legislation to have safeguards to avoid sensitive private information of the individual from being disclosed or accessed “on the whim of the Executive
• Arguing that privacy was not a fundamental right, Union Finance Minister Arun Jaitley told the Lok Sabha that the legislation’s primary objective was delivery of benefits, subsidies and services to the people
• The Opposition objected to the presentation of the legislation as a Money Bill as this ensured that it was passed without the approval of the Rajya Sabha.

Govt. admits sedition definition is wide

• The government admitted in the Rajya Sabha that the definition of sedition under the law was “very wide” and agreed to an all-party meeting to discuss the issue after the Law Commission, which is examining the matter, submits its report.
• Anybody who speaks against the government can be booked under sedition law. Amendments have been suggested because the definition is very wide. That is why concerns have been raised
• Mr. Rijiju said the Commission, in its 42nd report, had noted that the sedition law was “defective” but did not favour its deletion.

New civil aviation policy on its way

• The Union government will come out with a new civil aviation policy soon, according to Minister for Civil Aviation P. Ashok Gajapathi Raju
• While the new policy is currently awaiting Cabinet approval, the Minister indicated that it would have several measures that would be helpful in boosting the aircraft Maintenance, Repair and Overhaul (MRO) business and also increase the regional air travel connectivity.
• As every hour counts for an aircraft, the government proposes to simplify the process and procedures to improve the turnaround time in MROs. This apart, fiscal concession would be given on customs duty, VAT and service tax
• With these measures, the government expects that the $ 700 million MRO business would come back to the country. It also anticipates an additional $ 200 million business coming from abroad.
• For improving regional connectivity, the government intends to revive all the unused airstrips in the country and develop them as no-frills airports alongside. Towards encouraging airlines, it would waive service tax, excise duty on aviation turbine fuel, VAT and landing and parking charges.
• The Centre would like to add 50 such airports every year for the next three to four years. At present, scheduled aircrafts are being operated to and from 75 airports in the country.
• Out of the 350 million people (middle class) in the country, whose purchasing power is on a par with their European counterparts, only 70 million were travelling by air in view of the high cost of air travel. Hence, the government intends to provide viability gap funding if the fares were reduced.

Gadag to be first city to have pan-city Wi-Fi

• Gadag city took a big step towards becoming the first in the State to offer Free Wi-Fi facility to people with the commissioning of as many as 10 hotspots to begin with.
• In the first phase, 25 hotspot locations have been chosen, including the industrial estate, zoo, major colleges, new and old bus stations, Deputy Commissioner’s office, new court complex.
• Under the facility, an individual user will get up to 2 mbps speed and 200 MB each day with each access point supporting up to 300 to 400 users. All social websites such as Facebook and YouTube can be accessed.

Ali Ahmad Hussain Khan passes away

• Eminent Shehnai exponent Ustad Ali Ahmad Hussain Khan, one of the best-known players of the instrument after the legendary Bismillah Khan, passed away in Kolkata
• Ustad Khan was felicitated with the Sangeet Natak Akademi Award in 2009 for his contribution to Hindustani instrumental music.
• He hailed from a family of renowned Shehnai exponents from Benaras and was known for his innovative style and mastery over the classical and semi-classical and folk music repertoire. The musician has also played at the inauguration ceremony of Doordarshan in 1973.
• A top-graded artiste of All India Radio, Ustad Khan also used to teach in the ITC Sangeet Research Academy in Kolkata. In 2012, he was felicitated with the ‘Bangabhushan’ award by the West Bengal government.

Modi wax statue to be unvieled at Madame Tussauds

• Prime Minister Narendra Modi will join the ranks of prominent global leaders at Madame Tussauds in London, Singapore, Hong Kong and Bangkok next month, the world famous wax museum.
• Madame Tussauds has crafted figures of very distinguished dignitaries from around the world
• The wax figures at each of the museum’s locations around Europe and Asia will be dressed in Modi’s signature kurta-pyjama along with a jacket and he will be featured in a traditional pose “making a namaste gesture”.
• His massive social media presence — he is currently the second most followed politician on Twitter after U.S. President Obama — also confirms the intense interest the public have in him
• A new branch of Madame Tussauds is also set to open in New Delhi as part of the India–U.K. Year of Culture in 2017, as announced during Prime Minister Modi’s visit to the U.K. November 2015.

:: INTERNATIONAL ::

Merrick Garland to be nominated to Supreme Court by Obama

• President Barack Obama said he would nominate appeals court judge Merrick Garland to the Supreme Court, challenging Republicans to reject a long-time jurist and former prosecutor known as “one of America’s sharpest legal minds”.
• Mr. Garland, 63, is the chief judge for the U.S. Court of Appeals for the District of Columbia Circuit, a court whose influence over federal policy and national security matters has made it a proving ground for potential Supreme Court justices.
• If confirmed, Mr. Garland would be expected to align with the more liberal members, but he is not viewed as down-the-line liberal.
• Particularly on criminal defence and national security cases, he’s earned a reputation as centrist, and one of the few Democratic-appointed judges Republicans might have fast-tracked to confirmation under other circumstances.

New immigration act of U.K

• New immigration act of U.K. under this rule, skilled workers from non-EU countries who come into the country on Tier-2 visas will face deportation after five years unless they can show minimum annual earnings of £35,000.
• Previously, after five years on a Tier-2 work visa, the individual could apply for Indefinite Leave to Remain (or ILR) in the U.K. The income threshold used to be £20,800 – around £5,000 less than the average U.K. salary. All that will now change.
• A possible 40,000 skilled workers — teachers, IT professionals, health sector workers and charity workers, a majority of them from India and other South Asian nations — who have been living and working in the U.K., paying their taxes and contributing their skills and earnings to the economy, will be affected.
• There has been a major backlash to the rule, with a petition against it to the government quickly gathering over 100,000 signatures, the number needed to ensure a discussion on the issue in the House of Commons.
• About 40,000 workers, many of them from India, will be affected by the new rules

:: SCIENCE AND TECHNOLOGY ::

IRNSS-1G to be delayed

• The spacecraft, IRNSS-1G, was planned for March 31. It is now planned to be launched towards the end of April, a delay that is not unusual in the Space arena.
• Indian Space Research Organisation sources said the satellite was getting readied at the ISRO Satellite Centre in Bengaluru. The sixth one, 1F, was flown as recently as on March 10 from the Sriharikota launch site.
• Much is anticipated of the uses of the Rs. 1400-crore IRNSS (Indian Regional Navigation Satellite System), which is aimed at improving positional and navigational accuracy on land, sea and in air within the country; and for everyday civil uses as well as defence and security affairs.
• The first in the series, IRNSS-1A, was put in orbit in July 2013; each of the spacecraft is built to last for at least ten years.
• ISRO plans to double its launch rate in a year by doing a flight a month.

India Aviation 2016

• India Aviation 2016, fifth in the biennial series of international exhibition and conference on civil aviation is happening in Hyderabad
• Several Tier II and III cities “remain unconnected or inadequately connected” and the northeast faced a paucity of civil aviation infrastructure despite the aviation industry growing rapidly
• On the growth potential, the passenger traffic in India was likely to touch 421 million by 2020 — it was 190 million in 2015. India is one of the least penetrated air-markets in the world with 0.04 trips per capita per annum as compared to 0.3 of China and over 2 in the U.S.
• India would require at least 800 aircraft by 2020 to cater to the phenomenal increase of passenger and freight traffic.
• Supporting infrastructure, it has to be suitably upgraded by building new Greenfield airports, expanding the existing airports and upgrading facilities for maintenance, repair and operations.

:: BUSINESS ::

NPS can now be totally tax-free

• Retirement savings accumulated under the New Pension Scheme or NPS can now be totally tax-free at the time of withdrawal under certain conditions and the Pension Fund Regulatory and Development Authority (PFRDA) had only urged the government to bring some parity in the tax treatment of different pension products it competes with, such as the employees’ provident fund (EPF)
• The government had introduced a tax on 60 per cent of EPF savings at the time of retirement in the Budget in a bid to make the NPS, savings under which were fully taxable at retirement, more attractive. At the same time, it made 40 per cent of NPS accumulations tax-free. While the EPF tax provision was rolled back last week, the partial tax break for NPS remains.
• Under the NPS framework, 40 per cent (of corpus) is mandatorily annuitised and that is tax free. Now, 40 per cent of the rest that may be withdrawn as a lump sum is also tax free. So if you annuitise 60 per cent of your balance (instead of 40 per cent), technically, yes, it’s tax-free (entirely)
• The pension fund regulator, under the administrative control of the Finance Ministry, conceded that the tax treatment of retirement savings has become a ‘tricky thing’, but asserted that it was not pitching for NPS to be made totally tax-free.
• The NPS which is now also referred to as the National Pension System, has 1.18 crore members, including state and central government employees. It has assets of over Rs.1.15 lakh crore. By contrast, the EPF organization under the Labour Ministry oversees assets over Rs.10 lakh crore.

India looks forward for BRICS meeting

• The government is preparing a list of priority projects for which investments could be sought from other BRICS nations
• The list of big projects, in addition to a proposal to set up a mechanism to expeditiously resolve non-tariff barriers (NTBs) that are hurting goods trade between BRICS member countries, will be taken up for discussion during the next month’s meeting of the grouping’s Contact Group on Economic and Trade Issues (CGETI).
• Investments would be sought for projects, mostly in infrastructure sector, from other member nations viz. Brazil, Russia, China and South Africa
• India is chairing the influential bloc BRICS for an 11-month term till December 2016. India’s list of projects will be similar to what Russia brought out during its term as the chair of the BRICS Group last year.
• India is also likely to put up a proposal at the CGETI meeting to boost services trade through relaxed visa norms. Besides, India will seek cooperation between BRICS countries on standards and technical regulations in goods and services trade.
• Russia and China are pitching for measures easing of norms to boost e-commerce trade. In another initiative, Russia and Brazil are demanding a mechanism to link the single window clearance mechanisms in the BRICS countries for better trade facilitation.
• India’s work on a list of projects in the country comes even as the BRICS New Development Bank has begun its process to select priority projects. These include in sectors such as renewable energy and infrastructure.
• India will also hold a trade fair and an investor forum to promote the government’s flagship schemes such as ‘Make In India’, ‘Digital India’, ‘Smart City Mission’, ‘Start-up India’ and the ‘National Mission for Clean Ganga’.
• These events -- meant to attract more investments from the BRICS countries into India -- could coincide with the next BRICS Summit (the eighth), slated for October 2016 most likely in New Delhi

Govt. clarifies rules on tax treatment of offshore funds

• A foreign hedge fund with an Indian fund manager working in India will neither be classified as having a business connection in India nor as being located in India.
• Under this regime, the fund management activity carried out through an eligible fund manager in India by an eligible investment fund does not constitute business connection in India of the fund and also does not lead to the residence of the fund in India
• Among the various other changes made, one of the most significant is that “where the investment in the fund has been made directly by an institutional entity, the number of members and the participation interest in the fund shall be determined by looking through the said entity
• The two big issues which are not addressed is that no single investor can invest more than 10 per cent in the fund and that the aggregate participation of 10 or less members has to be less than 50 per cent. In other words, 10 people cannot own more than 50 per cent of the company.
• However, it does not address two important issues, i.e. a single investor cannot own more than 10 per cent in the fund and 10 or less investors should own 50 per cent or less

:: SPORTS ::

GAYLE BEAT HIS OWN RECORD

• The onset of monsoon is still some months away, but Chris Gayle provided Mumbai with a ‘burst’ of a different kind
• Quite fittingly, his 48-ball 100 — the century brought up in 47 — ensured the West Indies won its Group 1 opener in emphatic fashion, by six wickets and with 11 deliveries to spare.

1) During March 2016, the RBI came out with which important instruction pertaining to savings bank accounts? – It mandated that banks should credit interest on savings deposit at quarterly or shorter intervals

Explanation: According to the guidelines in a circular circulated by the Reserve Bank of India (RBI) on 3 March 2016, the banks have been directed to pay interest on savings bank accounts on a quarterly basis or shorter duration.

– At present, the interest is credited in savings bank accounts on a half-yearly basis. The interest rate on a savings bank account is calculated on a daily basis since 1 April 2010.

– According to estimates, the lower periodicity of interest payments might put a burden of Rs. 500 crore on banks.

– Earlier, banks used to give interest of 3.5% on savings accounts on the basis of the least amount deposited in an account between the 10th and the last day of each month.

– While public sector banks offer 4% interest on savings deposits, private players offer as much as six per cent.

– In 2011, the RBI had decided to give freedom to commercial banks to fix savings bank deposit rates, the last bastion of the regulated interest-rate regime.

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2) The Lok Sabha on 15 March 2016 passed the Constitution (Scheduled Castes) Order (Amendment) Bill, 2016 so as to include or affect the status of certain communities belonging to 5 states in the list of Scheduled Castes (SC). This bill seeks to amend which most-prominent bill associated with SCs? – Constitution (Scheduled Castes) Order, 1950

Explanation: The Constitution (Scheduled Castes) Order (Amendment) Bill, 2016 is also known as the Constitution (Scheduled Castes) Order, 1950 Amendment Bill. It seeks to include certain castes from Chhattisgarh, Haryana, Kerala, Odisha and West Bengal in the list of Scheduled Castes (SC).

– The inclusion or change in status of communities from these 5 states became necessary after suggestions made by these state governments.

– The castes and communities that were found eligible for their inclusion in SC category from Chhattisgarh are Sais, who are also known as Sahis, Sarathi, Soot-Sarathi and Thanwar.

– Two castes from Haryana have also been included in the SC list. These are Aheria, also called Aheri, Hari, Heri, Thori and Turi, and Rai Sikh.

– In Kerala, Peruvannan caste has been included the SC list while Malayan from certain areas will also be entitled to the same benefits.

– Castes, which have been excluded from the OBC list consequent upon their inclusion in SC list include Bariki and Kummari from Odisha, while the area restriction of the inclusion of Chain caste in West Bengal has been removed.

– After the Bill becomes an Act, members of the communities included in the list of Scheduled Castes will be able to derive benefits meant for Scheduled Castes under the existing schemes.

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3) Which bank during March 2016 launched its revolutionary contactless mobile payments solution through which customers can initiate electronic payments from NFC enabled smartphones by just waving their phones near a contactless merchant terminal? – ICICI Bank

Explanation: ICICI Bank’s contactless mobile payments solution allows customers to make payments with their linked cards to the bank’s “Pockets” offering, by just tapping the mobile phone. The bank claims that this new service was one step ahead of the tap-and-pay solution the bank had been offering.

– With this new service the customer doesn’t need to have his/her card at the time of making a payment as long as the card is linked to Pockets.” Pockets, is a digital banking service offered by ICICI Bank which has had about 3.3 million downloads so far.

– This payments solution uses Host Card Emulation (HCE) technology apart from the Near Field Communication (NFC)-enabled card service. HCE will create ‘virtual’ cards for ‘physical’ credit or debit cards of the bank.

– This virtual card will reside in the bank’s secure cloud server. By using the virtual cards, an ICICI Bank customer can initiate electronic payments from NFC enabled smartphones by just waving his/her phone near a contactless merchant terminal.

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4) What is the name of the 5-day civil aviation show that was inaugurated by President Pranab Mukherjee on 16 March 2016 at Hyderabad that will feature aircrafts and associated technology from leading manufacturers? –‘India Aviation 2016’

Explanation: The fifth edition of ‘India Aviation 2016’ is being held at Begumpet Airport (Hyderabad) from 16 March to 20 March 2016. It has been organised by Ministry of Civil Aviation along with Federation of Indian Chambers of Commerce and Industry (FICCI).

– The theme of this year’s show is ‘Indian Civil Aviation Sector: Potential As Global Manufacturing and MRO Hub’.

– The event is for business visitors only. More than 200 major participants, including aircraft and helicopter makers, are expected at the show. Leading players associated with aviation and related businesses like Boeing, Airbus, Textron, Embraer, Gulfstream, Dassault, Agusta Westland, Bell Helicopters and Russian Helicopters will also take part in the expo.

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5) Which Indian auto major is establishing the first-of-its-kind farm equipment rentals named ‘Trringo’ which aims to bring in digital technology to the tractor and farm equipment rental business? –Mahindra and Mahindra Ltd.

Explanation: Mahindra and Mahindra Ltd. (M&M), India’s largest tractor maker by sales, is establishing ‘Trringo’, a new venture that primarily aims to do for the tractor market what Ola and Uber have done in the car rental segment.

– It will operate on a franchisee-based model and is expected to bring in digital technology to the tractor rental business. The company estimates the size of the tractor hiring market to be about Rs. 15,000 crore per annum.

– It will offer a digital platform to connect those looking to hire tractors and those willing to rent their self-owned machines. A location-based mapping system will bring the two together and route them to the closest franchisee.

– The new entity will start operations from June 2016 and will scale up to five states by August 2016. Later, it will be replicated in countries outside India, where Mahindra has a presence.

– This new venture is being established at a time when M&M’s tractor sales have fallen sharply due to successive years of drought.

1. Fazle Kabir appointed Governor of Bangladesh Bank 
1. Fazle Kabir was appointed the 11th Governor of the Bangladesh Bank, the central bank of Bangladesh.
2. Kabir replaced Atiur Rahman, who had resigned after taking moral responsibility over electronic theft of 101 million US dollars from the central bank's account with the New York Federal Reserve Bank.
3. A Bangladeshi economist and banker, Fazle Kabir served as the chairman of state-owned Sonali Bank prior to his appointment in the Bangladesh Bank.
4. He has also served as a Director of state-owned Janata Bank.


2. India became second biggest investor in London
1. London & Partners, the official promotional company for London,  announced that India has emerged as the second biggest investor in London after the US.
2. The company revealed that there has been a 117 per cent increase in Indian companies across all business sectors investing in London since 2005. Also, there has been a 133 per cent increase in tech companies investing in the city, which accounts for 46 per cent of all projects.
3. Software testing service Cigniti Technologies and customer support company Kayako and many others invested majorly in technology sector.
4. The figures were released at the inaugural India Emerging 20 (IE20) event that brought together leading entrepreneurs from India and Britain.

3. British mathematician Sir Andrew Wiles won 2016 Abel Prize
1. British mathematician Sir Andrew Wiles was named as the winner of the 2016 Abel Prize by the Norwegian Academy of Sciences and Letters in Oslo.
2. Wiles won the award for solving a centuries-old hypothesis, Fermat's Last Theorem.
Crown Prince Haakon will present the award to Wiles in May 2016 for an achievement that the academy described as an epochal moment for mathematics.

4. Obama nominated Merrick Garland for Chief Justice of US Supreme Court
1. President Barack Obama on 16 March 2016 nominated appeals court judge Merrick Garland to be the next US Supreme Court Justice. 63-year-old Garland will be 113th Supreme Court justice of the US.
2. Garland, who is the Chief Judge on the US Court of Appeals in D.C. Circuit, will succeed Justice Antonin Scalia who died on 13 February 2016.
3. Justice Garland is viewed as a moderate and has won praise from senior Republican figures. The appointment has to be ratified by the Senate, but its Republican majority has vowed to block a vote on any Supreme Court nominee from Obama.

5. UN Population Fund appointed Ashley Judd as Goodwill Ambassador
1. The United Nations Population Fund (UNFPA)  appointed Ashley Judd as its Goodwill Ambassador. Judd is an acclaimed humanitarian, actor, writer and political activist.
2. As a UNFPA Goodwill Ambassador, the American actress will support the agency’s efforts to stop women dying giving life and to empower women to choose when and how often to become pregnant.
3. Her appointment is also aimed at generating awareness about the 2030 Agenda for Sustainable Development Agenda that was adopted by the UN General Assembly in September 2015.The agenda through its Goals 3 and 5 seeks to end discrimination against women in all forms and promote their well-being.

6. UNDP appointed Michelle Yeoh as Goodwill Ambassador
1. The United Nations Development Programme (UNDP)  appointed award-winning action heroine Michelle Yeoh as its Goodwill Ambassador.
2. Yeoh joined the current roster of UNDP Goodwill Ambassadors that include Spanish actor Antonio Banderas, US actress Connie Britton, Japanese actress Misako Konno, soccer legends Didier Drogba, Iker Casillas, Ronaldo, Marta Vieira da Silva and Zinedine Zidane.
3. As an ambassador, Yeoh’s mission is to mobilize support for the Sustainable Development Agenda 2030 that was approved by the United Nations General Assembly in September 2015.
4. She will also leverage her influence as an actress and advocate on global development issues, including gender equality and the eradication of poverty.

7. Shehnai exponent Ustad Ali Ahmad Hussain Khan died
1.Eminent Shehnai exponent Ustad Ali Ahmad Hussain Khan died in Kolkata. He was 77.
Ustad Khan was known as one of the best-known players of the instrument after the legendary Bismillah Khan (1916-2006).
2. He hailed from a family of renowned shehnai exponents. His grandfather Wazir Ali Khan, father Ali Jan Khan and uncle Nazir Hussain Khan were also renowned shehnai specialists.
3. In fact, Wazir Ali Khan was the first to demonstrate Indian classical music on shehnai at Buckingham Palace.

1. World Happiness Index : India Ranks 118 out of 156 Countries

i. India ranked 118th out of 156 countries on the United Nations World Happiness Index (WHI) 2016.

ii. It was revealed by the fourth World Happiness Report 2016 and published by the Sustainable Development Solutions Network (SDSN), a global initiative for the UN. 

iii. In 2015 India was at 117 th in the happiness list.

iv. According to the report 2016, Denmark takes the top spot as the happiest country in the world. It has replaced Switzerland. 

v. Rwanda, Benin, Afghanistan, Togo, Syria and Burundi were the least happy countries this year. India comes below nations like Somalia (76), China (83), Pakistan (92), Iran (105), Palestinian Territories (108) and Bangladesh (110). The US is ranked 13th, coming behind Australia (9) and Israel (11).

2. Prime Minister Narendra Modi is among the most influential people on the Internet and Modi to Join World Leaders in Wax at Madame Tussauds

i. The TIMEs magazine cited Modi’s unconventional announcement on Twitter of his visit to Pakistan last year while naming him among ‘The 30 Most Influential People on the Internet’ for the second year in a row in this year’s unranked list.

ii. Prime Minister Narendra Modi is among the most influential people on the Internet, According to TIME magazine  describing the Indian leader as an “Internet star” who often uses social media to “conduct diplomacy”. 

iii. In other news Prime Minister Narendra Modi will join the ranks of prominent global leaders at Madame Tussauds in London, Singapore, Hong Kong and Bangkok to In april 2016, the world famous wax museum announced. 

iv. Describing him as a “hugely important figure in world politics”, according to museum the Indian Prime Minister had given the museum’s team of artists and experts a sitting at his residence in New Delhi earlier this year.

3. Indian Software Engineer Wins UN Data Visualization Challenge

i. The UN honoured the founder of India-based Miavy Systems Abdulqadir Rashik for the Unite Ideas  LinksSDGs Data Visualization Challenge. 

ii. It will be used to identify further research opportunities and guide policy decisions around the implementation of global sustainability initiatives.

iii. He was bestowed with the Challenge’s top prize for his submission Links to Sustainable Cities an interactive visualization that identifies and maps the links between Sustainable Development Goal 11, Sustainable Cities and Communities, and the other 16 Goals.

4. RBI Likely To Pay Rs 57,000 Cr. In Dividends To Government in 2016-17

i. The Reserve Bank of India is likely to pay the government Rs 57,000 crore in dividends in 2016-17, slightly less than the amount it paid in the current fiscal but much higher than that in earlier years.

ii. The amount paid is slightly lesser than the previous fiscal year but much higher than the previous years Last year, the government received Rs.73,905 crores as dividends from various state owned banks and the RBI. 

iii. This fiscal year it has estimated to receive Rs.69,897 crores.

5. 14 Indian Investors Among World’s Top 100 Venture Capitalists

i. A total of fourteen Indian investors have been featured in a list of top 100 venture capitalists in the world. 

ii. The list has been compiled by CB Insights, a research firm that tracks angel and venture capital investments across the globe.

iii. The list has been prepared based on evaluations of the basis of the investments made by the investors since 2008. 

iv. The investors were evaluated based on factors such as investor exits and consistency of investments among others.

6. RUSA Scheme to be implemented to improve Equity, Quality of Higher Education

i. Central government is implementing the Centrally Sponsored Scheme of Rashtriya Uchchatar Shiksha Abhiyan (RUSA) for providing financial support to proposals contained in State Higher Education Plan (SHEP) approved by the State Higher Education Councils (SHECs) in order to achieve the objectives of equity, access and quality.

ii. A total of 115 Universities and 1218 colleges have been approved by RUSA PAB for infrastructure grants. 

iii. These approvals were accorded to the proposals included in the respective State Higher Education Plans (SHEPs).

iv. objectives of Rashtriya Uchchatar Shiksha Abhiyan (RUSA)- Ensure adequate availability of quality faculty in all higher educational institutions and ensure capacity building at all levels. To achieve the Gross Enrolment Ratio (GER) target of 25.2% by the end of 12th Plan and 32% by the end of 13th Plan.

v. Only seven proposals from the states under the component of creation of universities through upgradation of autonomous colleges and eight proposals of states under the component of creation of universities through clustering of colleges have been approved by the PAB of RUSA as other proposals could not meet the prescribed norms.

7. Over Rs 1 lakh crore disbursed under MUDRA Yojana

i. Under Pradhan Mantri Mudra Yojana Loans worth Rs1.09 lakh crore have been sanctioned to small entrepreneurs, loans worth over Rs.1.09 lakh crore were given to over 2.96 crore beneficiaries.

ii. According to Minister of State for Finance Jayant Sinha loans worth over Rs 1.09 lakh crore were given to over 2.96 crore beneficiaries. 

iii. Under Pradhan Mantri MUDRA Yojana, which was launched in April last year, loans between Rs 50,000 and Rs 10 lakh are provided to small entrepreneurs. 

iv. Pradhan Mantri Mudra Yojana under the Micro Units Development and Refinance Agency (MUDRA) Bank is a new institution being set up by Government of India for development and refinancing activities relating to micro units. 

v. It was announced by the Finance Minister while presenting the Union Budget for FY 2016. The purpose of MUDRA is to provide funding to the non corporate small business sector. MUDRA Yojana, which was launched in April last year, loans between Rs.50, 000 and Rs.10 lakh are provided to small entrepreneurs. The Micro Units Development and Refinance Agency Ltd (MUDRA) focuses on the 5.75 crore self-employed who have deployed funds totalling Rs.11 lakh crore and provide jobs to 12 crore people.

8. Jammu & Kashmir 9th State To Join UDAY Scheme, To Save Rs 9,800 Cr.

i. Jammu & Kashmir (J&K) became the 9th state to sign the memorandum of understanding(MoU) for power distribution reforms, the Ujwal Discoms Assurance Yojana (UDAY). 

ii. It’s a tripartite agreement between the Union Ministry of Power, state governments and the discoms.

iii. The other eight states are Rajasthan, Uttar Pradesh, Chhattisgarh, Jharkhand, Bihar, Gujarat, Haryana and Punjab. 

iv. An overall net benefit of approximately Rs 9,800 crore would accrue to J&K by opting to participate in UDAY, by way of savings in interest cost, reduction in aggregate technical and commercial (AT&C) and transmission losses, interventions in energy efficiency, and coal reforms, said the officials.

v. The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi announced  scheme moved by the Ministry of Power - Ujwal DISCOM Assurance Yojna or UDAY. UDAY provides for the financial turnaround and revival of Power Distribution companies (DISCOMs), and importantly also ensures a sustainable permanent solution to the problem. UDAY is a path breaking reform for realizing the Hon’ble Prime Minister’s vision of affordable and accessible 24x7 Power for All.

9. Bharti Airtel buys Videocon Telecom for Rs 4,428 cr.

i. India’s largest telecom operator by subcriber base, Bharti Airtel, said on Thursday that it has acquired Videocon Telecom for Rs 4,428 crore.

ii. With this, Bharti Airtel will get the rights to use 2X5 MHz of spectrum in the 1800 band allocated to Videocon by the government on April 5, 2013. 

iii. On March 16, Idea Cellular had terminated its spectrum deal with Videocon under which it was supposed to buy two circles - Gujarat and Uttar Pradesh (West) - for Rs 3,310 crore. After this deal, Bharti’s 4G coverage is likely to go up to 19 circles from the current 15.

10. India aviation show 2016 begins in Hyderabad

i. The India Aviation 2016, an international exhibition and conference on civil aviation kicked off in Hyderabad, Telangana. 

ii. It is the fifth edition in the biennial series of this international exhibition and was inaugurated by President Pranab Mukherjee at the Begumpet Airport (also known as Hyderabad Old Airport). 

iii. India Aviation 2016 has been jointly organised by Ministry of Civil Aviation and Federation of Indian Chambers of Commerce and Industry (FICCI) on the lines of Make in India. 

iv. More than 200 major participants across the globe are going to part and will be displaying latest aircrafts. Delegations led by Ministers and Senior Government Officials from more than 25 are going to participate in the event. It will also see the participation of leading Aircraft Manufacturers, helicopter manufacturers and engine manufacturers. 

v. Global CEO’s at CEO Forum will be also held in the four day event. Major global aviation infrastructure companies are also participating in this event.

11. Actress Michelle Yeoh Appointed As UNDP Goodwill Ambassador

i. Michelle Yeoh, the award winning action heroine has been appointed as United Nations Development Programme (UNDP) Goodwill Ambassador. 

ii. The UNDP works to eradicate poverty and reduce inequality. 

iii. The Malaysian born actress will focus on raising awareness and mobilising support for the recently launched Sustainable Development Goals (SDGs).

iv. The actress is internationally acclaimed for her roles in the James Bond film Tomorrow Never Dies. she was chosen by People as one of the “50 Most Beautiful People in the World” in 1997. She was nominated for the BAFTA Award for Best Actress in 2000 for her movie Hidden Dragon.

v. Prior to this, Her engagements concern development issues which included appointments as Global Ambassador for the Live to Love and Make Roads Safe campaign in 2012 and advocacy during the Zero Discrimination Campaign in 2013. 

12. Shehnai Exponent Ustad Ali Ahmad Hussain Khan Has Passed Away

i. Famous Shehnai exponent Ustad Ali Ahmad Hussain Khan has passed away in Kolkata, West Bengal. He was 77. He was suffering from kidney  related problem and hospitalized from the past few days. 

ii. He was one of the best players of the instrument after the legendary Bismillah Khan.

iii. He was born in 1939 and represented the Benaras gharana (school) in shehnai music. He was famously known for his innovative style and mastery over the classical and semi-classical and folk. He also used to teach in the Kolkata based ITC Sangeet Research Academy.

iv. He had played Shehnai at the inauguration ceremony of Doordarshan television channel in 1973 with Pandit Ravi Shankar and also had rendered its signature tune. He was a top graded artiste of All India Radio (AIR). He had performed globally.

v. He was awarded with the Sangeet Natak Akademi Award in 2009 and Bangabhushan award in 2012 of West Bengal government etc.

13. Paul Daniels, TV Magician, Dies Aged 77

i. Television magician Paul Daniels has died aged 77 after being diagnosed with a brain tumor. 

ii. The entertainer was diagnosed with an incurable brain tumor in February and last week returned from hospital to spend his “final days” at home.

iii. Daniels is famed for his television series The Paul Daniels Magic Show, which ran on the BBC from 1979 to 1994. He was born in 1938 in South Bank, Middlesbrough, where he began his career as a magician and entertainer.

iv. Newton Edward Daniels, known by his stage name Paul Daniels, was an English magician and television performer. 

v. He achieved international fame through his television series The Paul Daniels Magic Show, which ran on the BBC from 1979 to 1994.

14. FIFA admits taking bribe for hosting World Cup

i. FIFA is seeking to claim “tens of millions of dollars” in bribe money seized by U.S. federal prosecutors. 

ii. FIFA submitted a 22-page claim to the U.S. Attorney’s Office in New York that seeks a big share in restitution from more than $190 million already forfeited by soccer and marketing officials who pleaded guilty in the sprawling corruption case.

iii. Tens of millions of dollars more is likely to be collected by U.S. authorities when sentences are handed down, and from dozens of officials currently indicted but who have denied bribery charges or are fighting extradition.

iv. FIFA claims it is the victim of corrupt individuals, despite widespread criticism that bribe-taking was embedded in its culture in the presidencies of Joao Havelange and Sepp Blatter, who was forced from office after 17 years by the current scandal.

15. UN suspends Maria Sharapova as Goodwill Ambassador after doping allegations

i. The United Nations (UN) has suspended Russian tennis player Maria Sharapova as Goodwill Ambassador of the organisation after she was tested positive on doping allegations. 

ii. She was suspended by New York based UN Development Programme (UNDP) until the outcome of the investigation into her case is known. 

iii. However, UNDP has mentioned that they are grateful to Maria Sharapova for her support to their work, especially around the Chernobyl nuclear disaster recovery. 

iv. Earlier in March 2016, the five times Grand Slam champion and the highest-paid female athlete Maria Sharapova had announced that she tested positive for a drug called meldonium, at the Australian Open earlier in January 2016.

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