Extensive Coverage Of Current Affairs 25/3/2016

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International Affairs

• Today (25th March) is International Day of Remembrance of the Victims of Slavery and Transatlantic Slave Trade.
• Theme for the year 2016 : Remember Slavery: Celebrating the Heritage and Culture of the African Diaspora and its Roots
• Good Friday, the day commemorating the crucifixion of Jesus Christ, is being observed across the world.
• Authorities in China's capital Beijing have passed a new family planning rule to allow remarried couples to have a second child. 
• The new law also grants 128 maternity leaves (98 earlier) for mothers and a15-day holiday for fathers. 
• This comes months after China scrapped its three-decade-old one-child policy, following a sharp increase in people aged above 60 years.
• Iran President Hassan Rouhani is on a 2-day visit to Pakistan.
• During the visit, Mr Rouhani is expected to discuss a pipeline project for transporting Iranian natural gas to Pakistan.
• Sri Lanka's much-awaited Right to Information (RTI) Bill was tabled in Parliament today fulfilling an election promise of the Sirisena government.
• The Bill provides for the establishment of a Right to Information Commission and the appointment of information officers among other things to uphold the people’s right to know.

National Affairs

• The department of heavy industry has granted in-principle approval to Himachal Road Transport Corporation (HRTC) andMumbai Metropolitan Region Development Authority (MMRDA) to introduce zero-emission retrofitted electric buses under its flagship schemeFAME India.
• FAME India - Faster Adoption and Manufacturing of hybrid & Electric vehicles inIndia).
• HRTC and MMRDA will roll out 25 electric buses each. 
• Under FAME India, the department will fund up to 75 per cent cost of the buses.

Science & Technology

• Researchers at the University of East Anglia, UK, have developed a lip-reading speech recognition technology that can be applied at places where the audio is not good enough to determine the speech. 
• It could be used in several situations like helping people with hearing or speech impairments or enhancing audio-less video footage with additional speech data during criminal investigations.

Awards & Honors

• Amazon Founder and CEO, 52-year-old Jeff Bezos, has topped Fortune magazine's 'World's Greatest Leaders' list, followed by German Chancellor Angel Merkel and Burmese stateswoman Aung San Suu Kyi. 
• Important Points to Note : 
• Delhi CM Arvind Kejriwal has been ranked 42 in the list (He was the only Indian on the list)
• Kejriwal was credited for his efforts to curb pollution in Delhi through the scheme of allowing odd and even numbered vehicles on alternate days on the city's roads.
• The list also featured 23 women, an increase from last year's 15. 
• German Chancellor Angela Merkel and Myanmar's pro-democracy leader Aung San Suu Kyi featured in the second and third positions on the list respectively. 
• Indian-origin American politicians Nikki Haley and Reshma Saujani were ranked 17 and 20 on the list respectively.

Deaths

• Malayalam actor Jishnu Raghavan (35) passed away.
• Jishnu is best known for films like 'Nammal', 'Choonda' and 'Freedom'.
• US actor Garry Shandling (66) passed away.
• He had influenced a generation of comedians with his Emmy winning TV series, ‘It’s Garry Shandling’s Show’.
• One of Kerala’s most popular Kadhaprasangam (story telling) artistes and film comedian V.D. Rajappan died.
• He is also famous for his movies like Meleparambil Aanveedu, Alibabayum Arara Kallanmarum, Mutharamkunnu P.O, Kusruthikkaattu.
• Kadhaprasangam (story telling) 
• In the yesteryears, Kadhaprasangam was a hugely popular performing art in the state. 
• It is performed by just one person who tells the story by acting, singing and speaking and at times playing musical instruments as well. 

Business & Economy

• Private lender Lakshmi Vilas Bank has tied up with National Bulk Handling Corporation (NBHC) for Collateral Management and Warehousing Services.
• The objective of these services will enable industry traders and farmers in financing their capital requirements at all stages of supply chain, ranging from pre-harvesting to the marketing and export stages.
• This would allow the bank to provide financial flexibility to farmers, minimising the seasonal price fluctuations and distress sales during crop harvest season.
• The government has approved 11 highway projects in states like Karnataka andHimachal Pradesh at a cost of ₹6,284 crore. 
• The total length of the roads will be about 453 km. 
• Note : Under the 2016 Budget, ₹97,000 crore was assigned for the development of roads and highways.
• According the the recently released ASSOCHAM report, Odisha has the maximum share of over 17% in the total live investments worth about ₹33 lakh croreattracted by India’s manufacturing sector. 
• Note : The study titled ‘Impact analysis of delay in investment implementation in manufacturing’, however, also stated that Odisha has highest share (31%) of delayed projects facing cost escalation.
• After increasing its market share to 38 per cent in the debit card segment, RuPay, domestic card payment service provider, will be venturing into the Credit Card space this September.
• It plans to issue 100,000 such cards in the first year of its launch. 
• It will initially focus on two variants of a credit card — Regular and Platinum — and gradually extend its portfolio to offer co-branded cards.

NATIONAL:

March 25, the International Day of Remembrance for the Victims of Slavery and the Transatlantic Slave Trade:

·        Every year on March 25, the International Day of Remembrance for the Victims of Slavery and the Transatlantic Slave Trade offers the opportunity to honor and remember those who suffered and died at the hands of the brutal slavery system.

Good Friday being celebrated across world:

·        Good Friday, the day commemorating the crucifixion of Jesus Christ, is being observed across the world. Prayers and masses have been organised in the Churches and Chapels.

·        On this day, priests narrate the sufferings that Jesus Christ took upon himself for the sake of humanity.

Union Cabinet approved India’s accession to the Ashgabat Agreement:

·        The Union Cabinet chaired by Prime Minister Narendra Modi gave its approval for India to accede to the Ashgabat Agreement.

·        The Agreement is an international and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf.

Kejriwal named among world's 50 greatest leaders:

·        Delhi CM Arvind Kejriwal has been named in Fortune magazine’s 'World's 50 Greatest Leaders' list, topped by Amazon CEO Jeff Bezos.

·        Kejriwal was credited for his efforts to curb pollution in Delhi through the scheme of allowing odd and even numbered vehicles on alternate days on the city's roads.

·        Notably, Kejriwal, ranked 42, was the only Indian on the list.

Himachal Pradesh to have electric buses under FAME scheme:

·        The department of heavy industry has granted in-principle approval to Himachal Road Transport Corporation (HRTC) and Mumbai Metropolitan Region Development Authority (MMRDA) to introduce zero-emission retrofitted electric buses under its flagship scheme FAME India (faster adoption and manufacturing of hybrid & electric vehicles in India).

·        HRTC and MMRDA will roll out 25 electric buses each.

·        The flagship scheme was announced in April 2015 with a total capital outlay of Rs 795 crore in the first two financial years starting with the current year.

·        With this, the government hopes to save Rs 60,000 crore annually on the country’s oil import bill by 2020.

Odisha leads manufacturing investment: Assocham

·        Odisha has the maximum share of over 17% in the total live investments worth about 33 lakh crore attracted by India’s manufacturing sector, as of September 2015, according to an Assocham report.

·        The study titled ‘Impact analysis of delay in investment implementation in manufacturing’, however, also stated that Odisha has highest share (31%) of delayed projects facing cost escalation.

Drought declared in 12,000 villages in Vidarbha:

·        The Maharashtra government has declared drought in 12,000 villages across Vidarbha.

·        The move will help farmers growing cotton, paddy and soybean across the region in availing the special drought package under the National Disaster Relief Fund (NDRF) guidelines.

·        Earlier, district officials had reported that these villages were not eligible for the drought package.

Cabinet gives nod for MOU between India and UAE to mobilise long-term investment:

·        The Union Cabinet chaired by the Prime Minister Narendra Modi  gave its ex-post facto approval for a Memorandum of Understanding (MoU) between India and the United Arab Emirates (UAE) signed on 11th February, 2016 to mobilise long term investment into the National Investment and Infrastructure Fund (NIIF).

·        NIIF is a fund created by the Government of India for enhancing infrastructure financing in the country.

·        Corpus – Rs. 40000 crore; government and other investors would contribute Rs. 20000 crore each.

India and France sign MoU for construction of six nuclear reactors at Jaitapur:

·        India and France have signed a memorandum of understanding (MoU) for construction of six nuclear reactors at Jaitapur in Maharashtra, two months after the two countries decided to conclude the techno-commercial negotiations for the project by the year end.

·        French Ambassador to India Francois Richier, Jaitapur nuclear power project, proposing a nuclear power plant of 9900 MW, consists of 6 European Pressurised Reactors (EPR) of 1650 MW each.

Swachh Bharat rankings: Rashtrapati Bhavan among the cleanest buildings:

·        Rashtrapati Bhavan, UPSC Building, Hyderabad House, Jawaharlal Nehru Bhavan and Vigyan Bhavan have been ranked among the cleanest government buildings in New Delhi in a survey carried out under Swachh Bharat Mission.

·        Rashtrapati Bhavan and UPSC building have got full marks to be stated as the cleanest buildings in a survey, however Nirvachan Sadan, Jaipur House, Jamnagar House, Jaisalmer House and AGCR Building found their place at the bottom of the list of 36 such buildings.

110 villages in Chhattisgarh declared ‘open defecation Free:

·        110 gram panchayats in Chhattisgarh were declared open defecation-free under the Centre’s Swachh Bharat Abhiyan, taking the total number of such villages in the state to 1,849.

·        Union Panchayat and Rural Development Minister Chowdhary Birender Singhdeclared 110 village panchayats as ODF while felicitating at the concluding function at Raipur.

PM Modi, Sania Mirza among contenders for TIME’s Most Influential people:

·        The popular magazine across the globe, TIME has released its contenders for the top most influential people in the world.

·        India must feel proud having PM Modi, tennis player Sania and Bollywood actress Priyanka in the list.

·        The editors of the Magazine will remain the final deciders however it has asked people to vote for their favourite leader among the 127 contenders.

·        Indian born CEO’s of top firms Google and Microsoft- Sundar Pichai and Satya Nadella also occupy the honorary position.

·        Indian origin actor Aziz Ansari is also in the list.

Mehbooba Mufti elected PDP legislature party leader:

·        Mehbooba Mufti was today unanimously elected as PDP legislature party leader, with a senior leader saying that she is the PDP nominee for the Jammu and Kashmir Chief Minister’s post.

·        The 56-year-old PDP President was elected the leader of the legislature party at a meeting of PDP MLAs, MLCs and MPs at her residence in high-security Gupkar here this evening.

Economy to grow at 7.2% in 2016-17: BMI Research:

·        The Indian economy is expected to grow at 7.2 per cent in 2016-17, a tad lower than Central Statistics Office’s advance estimates of 7.6 per cent in the current fiscal due to weak investments and external headwinds, says BMI Research.

·        Indian economy continues to face multiple challenges, and this is being reflected in high frequency data such as industrial production and trade, it added.

Maharashtra to be self-sufficient in power by '17: Government

·        Maharashtra will attain self-sufficiency for its power needs by 2017, said the state government.

·        As per a power generation plan, Maharashtra aims to achieve a target of generation of 5,500 MW power by next year, said state Energy Minister Chandrashekhar Bawankule.

·        The state has further approved an online meter scheme for electricity consumers, Bawankule added

Mint can help fight cancer: CIMAP experts

·        Scientists at CSIR-Central Institute of Medicinal and Aromatic Plants (CIMAP​) Lucknow​ have identified that a compound called 'L-Menthol' derived from Mentha plant, popularly known as mint, can also be used in anti-cancer drugs.

Mizoram, JICA sign pact for promoting sustainable Agriculture:

·        The Mizoram government and Japanese International Cooperative Agency (JICA) signed an agreement on ‘Capacity Enhancement for Sustainable Agriculture and Irrigation Development.’

·        The memorandum of understanding was signed by top officials of Agriculture, Minor Irrigation, Horticulture and Soil and Water Conservation departments in the presence of state chief secretary Lalmalsawma.

·        JICA was represented by its team leader Satoru Fujita and four other officials both from Tokyo and Delhi.

23 women in Fortune's 50 Greatest Leaders list:

·        Fortune magazine's third annual list of the World's 50 Greatest leaders features 23 women, an increase from last year's 15.

·        German Chancellor Angela Merkel and Myanmar's pro-democracy leader Aung San Suu Kyi featured in the second and third positions on the list respectively.

·        Indian-origin American politicians Nikki Haley and Reshma Saujani were ranked 17 and 20 on the list respectively.

INTERNATIONAL:

India overtakes China in direct investment by US:

·        India has overtaken China in terms of direct equity allocation by US investors.

·        The data released by US Treasury shows India makes up 1.8% of US foreign equity holdings as on December 2015 as against 1.6% of China.

·        The data released by US Treasury shows India makes up 1.8% of US foreign equity holdings as on December 2015 as against 1.6% of China.

·        US investors direct investment in Indian equities has risen from $7 billion in September 2013 to $12 billion in December 2015.

Russia approves ONGC's $1.3 bn Vankor stake deal:

·        The Russian government has approved a deal for Oil and Natural Gas Corporation (ONGC) to acquire a 15% stake in the Vankor oilfield for $1.3 billion from Russian oil major Rosneft,.

·        Earlier this month, ONGC had signed an initial deal to raise its stake in Vankor to 26% from 15%.

Bill to include India in APEC introduced in US:

·        United States lawmakers have introduced a legislation asking the Obama administration to help India join the Asia Pacific Economic Cooperation (APEC) forum.

·        The lawmakers reportedly believed that an economically prosperous India would benefit US interests in Asia.

Former Bosnian Serb leader Radovan Karadzic sentenced to 40-year imprisonment:

·        The International Criminal Tribunal for the former Yugoslavia (ICTY) sentenced former Bosnian Serb leader Radovan Karadzic to 40-year imprisonment for his involvement in the 1995 Srebrenica genocide.

·        The ruling was pronounced by the Presiding Judge of the Trial Chamber III of the Tribunal O-Gon Kwon of South Korea.

·        Apart from Radovan Karadzic, late Serbian President Slobodan Milosevic and Ratko Mladic, the General who commanded Bosnian Serb forces, were tried by the Tribunal so far.

US Navy Tug USS Conestoga wreck discovered after 95 Years:

·        US Navy tug USS Conestoga as its wreck was discovered near one of the Farallones Islands about 30 miles (50 km) west of San Francisco.

·        It was announced by the National Oceanic and Atmospheric Administration (NOAA) and the Navy of United States.

·        The World War I era tug was missing since 1921 and the discovery of the wreck solved a 95 year-old mystery of its disappearance.

Iran President Rowhani arrives in Pak today on two-day visit:

·        Iran President Hassan Rouhani will be on a 2-day visit to Pakistan.

·        During the visit, Mr Rouhani is expected to discuss a pipeline project for transporting Iranian natural gas to Pakistan.

Pope washes feet of refugees for Easter ritual:

·        Pope Francis washed and kissed the feet of Muslim, Orthodox, Hindu and Catholic refugees at Castelnuovo di Porto, outside Rome, as part of an Easter ritual.

·        This gesture of service is a re-enactment of Jesus washing the feet of his apostles before he was crucified. Pope Francis had recently amended the rules to choose women for the ritual.

Beijing allows 2nd child for remarried couples:

·        Authorities in China's capital Beijing have passed a new family planning rule to allow remarried couples to have a second child.

·        The new law also grants 128 maternity leaves (98 earlier) for mothers and a 15-day holiday for fathers.

·        This comes months after China scrapped its three-decade-old one-child policy, following a sharp increase in people aged above 60 years.

RTI bill presented in Sri Lankan Parliament:

·        Sri Lanka’s much-awaited Right to Information (RTI) Bill was tabled in Parliament fulfilling an election promise of the Sirisena government.

·        The Bill provides for the establishment of a Right to Information Commission and the appointment of information officers among other things to uphold the people’s right to know.

·        The civil society activists who were responsible for drafting the legislation said they would ensure an Act of the highest quality to guarantee the RTI.

BANKING :

Lakshmi Vilas Bank ties up with NBHC for collateral management & warehousing:

·        Sector lender Lakshmi Vilas Bank kept its alliance with National  Bulk  Handling Corporation Private Limited (NBHC), a major Agri-Infrastructure player for collateral management and warehousing services.

·        This would allow the bank to provide financial flexibility to farmers, minimising the seasonal price fluctuations and distress sales during crop harvest season.

·        NBHC services to the needs of the members of the commodities future exchange for strong commodities and delivery through designated warehouses.

RuPay to launch Credit Cards in September:

·        After increasing its market share to 38 per cent in the debit card segment, RuPay, domestic card payment service provider, will be venturing into the credit card space this September.

·        It plans to issue 100,000 such cards in the first year of its launch.

·        It will initially focus on two variants of a credit card — Regular and Platinum — and gradually extend its portfolio to offer co-branded cards.

·        RuPay is a brand owned and developed by NPCI (from 2012) to compete against global payment schemes of the likes of Visa and MasterCard.

Banks in Dakshina Kannada achieve 54,403-cr business until December:

·        Banks in Dakshina Kannada district reached a business of 54,403.92 crore of business till the end of December 31 during 2015-16, as against a business of 48,018.12 crore in the corresponding period of 2014-15.

BOOKS AND AUTHORS:

Aishwaryaa R Dhanush pens her autobiography:

·        Filmmaker Aishwaryaa R Dhanush is set to launch her autobiography titled“Standing On An Apple Box”.

·        Aishwaryaa, the elder daughter of veteran actor Rajinikanth and wife of Kollywood actor Dhanush, has penned her life story as a celebrity child, star wife, filmmaker, and mother.

·        The book will showcase her personal accounts, with moments and memories drawn from real life incidents.

BUSINESS AND ECONOMY:

RJio launch may be pushed to December:

·        Reliance Jio Infocomm’s (RJIL) proposed launch of 4G services is likely to be pushed to December, as Voice over LTE (VoLTE) is proving to be more challenging than initially thought.

·        The company, the wireless arm of India’s largest private company Reliance Industries Ltd (RIL), launched the services in December 2015 for its employees.

BBIN motor vehicles pact implementation delayed to 2017:

·        The implementation of the Bhutan, Bangladesh, India and Nepal (BBIN) motor vehicles pact may be delayed till early 2017 as the Bhutanese Parliament is yet to approve the deal and may not take it up for consideration till the next session sometime in September-October.

·        The preliminary pact was signed in June last year. And, by end 2015, Bhutan, Bangladesh, India and Nepal (BBIN) were scheduled to sign a detailed motor vehicles pact, to allow seamless movement of cargo and people between the four-nation sub-regional bloc, outside SAARC, from January 1, 2016.

Tech Mahindra opens new delivery centre in France:

·        The country’s fifth largest software exporter Tech Mahindra has expanded itsfootprint in France with the launch of a new development centre in Toulouse, dedicated to projects for its existing partner and customers in the aerospace industry.

·        There are significant investments planned in terms of people, infrastructure, recruitment and training, as a part of Tech Mahindra’s commitment to strengthening its presence in France.

SCIENCE AND TECHNOLOGY:

Asia most exposed to disasters, Africa most vulnerable: Study

·        Asia has the largest number of people affected by natural disasters, but African countries are the most vulnerable to them, largely because of political instability, corruption, poverty and inequality, a new global assessment shows.

·        Over 1.4 billion people in South Asia such as India, Bangladesh and Pakistan face at least one major threat from nature.

·        In the case of Bangladesh, 100% of its population is exposed, compared to 82% for India and 70% in Pakistan.

Tata Steel agrees to sell two plants in Scotland:

·        Tata Steel UK said that it has agreed to sell its Clydebridge and Dalzell steel plants to the Scottish government, which will then sell them on to international metals group Liberty House.

·        Further, Tata Steel is negotiating the potential sale of the rest of its Long Products Europe business to Greybull Capital.

Renewable energy saw $286 bn investment in 2015:

·        According to a report by Bloomberg New Energy Finance, the Frankfurt School and the UN Environment Program, a record-breaking $286 billion was invested in renewable energy potential worldwide in 2015.

·        This equals 134 gigawatts of renewable power, compared to 87 gigawatts two years ago. This investment was more than double the $130 billion that went toward coal and natural gas.

ISRO established GIRI Radar System at Tirupati:

·        The Indian Space Research Organisation (ISRO) established the Gadanki Ionospheric Radar Interferometer (GIRI) near Tirupati in Andhra Pradesh.

·        It was set up at the National Atmospheric Research Laboratory (NARL) which is an autonomous research institute of the Department of Space.

Google announces Cloud Machine Learning platform:

·        Google announced a new service called Cloud Machine Learning for developers in a limited preview at its NEXT Google Cloud Platform user conference.

·        It consists of two parts – one allows to build machine learning models using data, and another offers Google products like translation, photo and speech recognition APIs, which the developers can use into their apps.

Microsoft shuts Artificial Intelligence Robot – Tay:

·        Humans will be humans and the latest victim is Microsoft, which launched artificial intelligence (AI)-powered bot on Twitter for a playful chat with people, only to silence it within 24 hours as users started sharing racist and offensive comments with the bot.

·        Launched on Twitter as an experiment in “conversational understanding” and to engage people through “casual and playful conversation”, Tay was soon bombarded with racial comments and the innocent bot repeated those comments back with her commentary to users.

·        The AI chatbot Tay is a machine learning project, designed for human engagement.

Google Chrome tool strikes out abusive words:

·        UK-based mental health organisation Headspace has built a Google Chrome browser extension named 'Reword', which strikes out abusive words with a red line, as a user types.

·        It works on popular sites like Facebook and Twitter to identify abusive words, phrases or sentences in real-time. The tool also allows contribution of such words from users to add to its database.

SPORTS:

Shane Watson to quit international cricket after World T20:

·        Australian all-rounder Shane Watson has decided that he will end his international career after the Ongoing ICC World Twenty20 in India.

·        While he has not featured in the one-day team since September 2015, the big-hitting batsman and seamer has been involved in both of Australia’s opening matches of the World T20.

·        Shane Watson is the only player to win Australian Player of the Year award across the format of the game.

NDMC freezes Delhi Golf Club's Bank Account:

·        The New Delhi Municipal Council (NDMC) froze a bank account of Delhi Golf Club (DGC) after it failed to pay a property tax of  769 crore.

·        PTI quoted an NDMC official as saying that the club had failed to reply to a notice served in November, asking the DGC to clear the dues, accumulated over several years.

Dyslexic girl to take part in Homeless Soccer WC:

·        Christina Francis, a 19-year-old Mumbai girl who was diagnosed with Dyslexia when she was nine, is set to represent India at the 16th Homeless Football World Cup in Glasgow.

·        She received 1.2 lakh from the organisers while a Mumbai church donated 60,000 to aid her participation. Notably, the tournament is set to feature 64 teams hailing from 51 countries.

OBITUARY:

Football legend Johan Cryuff passes away:

·        Johan Cruyff aka Flying Dutchman, the legendary Dutch Football Striker and coach, has died of lung cancer at the age of 68. 

·        As a player, Cruyff was the embodiment of Dutch “total football”, a fluid style of play focused on ball possession and rapid passing, and involving all members of the team in both attack and defence.

‘Kadhaprasangam’ famous V D Rajappan died:

·        The famous story telling ‘Kadhaprasangam’ artist and Malayalam Actor V D Rajappan died at the age of 70.

·        He is a famous comedian in Malayalam cinema and acted over 50 movies

·        He was in peak in 1970’s & 1980’s for his unique satirical style of ‘Kadhaprasangam’.

·        His famous Kadhaprasangams include ‘Kumari Eruma’, ‘Mak Mak’, ‘Priye Ninte Kura’, ‘Amittu’, ‘Pothu Puthri’ and ‘Ennennum Kurangettandeh.

·        His last movie was ‘Ok Chacko Cochin Mumbai’.

Garry Shandling dies at 66:

·        US actor Garry Shandling, who influenced a generation of comedians with his Emmy winning TV series, ‘It’s Garry Shandling’s Show’, has died aged 66. Los Angeles police said, Shandling suffered a medical emergency.

·        Shandling was known for breaking the fourth wall, speaking directly to the audience in his show, which aired from 1986 to 1990. He starred in the critically acclaimed Larry Sanders Show from 1992 to 1998.

Malayalam actor Jishnu Raghavan passes away battling cancer:

·        Malayalam actor Jishnu Raghavan Alingkil, who had been battling cancer for almost two years, passed away at a private hospital in Kochi, Kerala. Jishnu, who had been detected with cancer for the first time two years ago, had been completely cured of it but had an unfortunate relapse last year.

·        Jishnu had appeared as a child artist in the movie ‘Kilipatt’ in 1987 and had made his film debut in ‘Nammal’.

1. Union Cabinet approved Implementation of Pradhan Mantri Awaas Yojana — Gramin

1. Union Cabinet chaired by Prime Minister Narendra Modi approved the implementation of rural housing scheme of the Pradhan Mantri Awaas Yojana – Gramin (PMAY-G). This will help achieve the goal of Housing for All by 2022.

2. The total expenditure that will be incurred on implementing the project in a span of 3 years from 2016-17 to 2018-19 stands at 81975 crore rupees.

3. Details of implementing the Scheme

• Providing financial assistance for construction of 1 crore pucca houses to all houseless and households living in dilapidated houses in rural areas from 2016-17 to 2018-19

• The scheme would be implemented in rural areas throughout India except Delhi and Chandigarh.

• The cost of houses would be shared between Centre and States in the ratio 60:40 in plain areas and 90:10 for North Eastern and hilly states.

• Enhancing the unit assistance to 120000 rupees in plain areas and to 130000 rupees in hilly states/difficult areas /IAP districts

• Using Socio-Economic Caste Census 2011 data for identification of beneficiaries.

• Setting up of National Technical Support Agency at national level to provide technical support in achieving the target set under the project.

• The beneficiary is entitled to 90 days of unskilled labour from MGNREGA. This will be ensured through a server linkage between PMAY and MGNREGA.

2. Union Cabinet approved World Bank’s $1500 million support to Swachh Bharat Mission - Gramin

1. Union Cabinet chaired by Prime Minister Narendra Modi approved the 1500 million US dollar project of World Bank to support Swachh Bharat Mission - Gramin (SBM-G).

2. The approval seeks to provide for the mechanism of incentivisation of States under the SBM-G through World Bank credit. The incentivisation of the States on the basis of their performance under the SBM-G was approved by the Union Cabinet on 24 September 2014.

3. It will accelerate efforts to achieve sustained outcomes in sanitation by 2019.The incentive framework will reorient efforts of States towards the SBM-G 'outcomes'. It will also put in place a robust and credible independent verification system for annual measurement of improvement in rural sanitation. 

4. It will support the SBM-G programme in achievement of its objectives of attaining open defecation- free and clean environment.It will ensure a better quality of life for the rural population.

3. Australia’s Shane Watson announced retirement from international cricket

1. Australia’s Shane Watson announced that he will retire from international cricket at the end of the 2016 World Twenty20 Tournament.Watson retired from test cricket in September 2015 and since then he didn’t play any One Day Internationals also.

2. He also holds the record of highest ODI batting average of all Australian opening batsmen who have scored over 1000 runs.

4. Dutch soccer legend Johan Cruyff died

1. The Netherland's soccer legend Johan Cruyff died of lung cancer in Barcelona, Spain. He was 68.

Cruyff’s talent was such that he is comfortably placed alongside Pele, Diego Maradona, Franz Beckenbauer and Lionel Messi as the best footballers of all time.

5. Hollywood Comedian Garry Shandling died

1. Renowned Comedian, actor, writer and producer Garry Shandling was died on 24 March 2016 in Santa Monica. He was 66.

2. He was best known for the shows, It's Garry Shandling's Show and The Larry Sanders Show.

6. March 25: International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade

1. Every year 25th March is being observed as International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade. 

2. It honours and remembers those who suffered and died as a consequence of the transatlantic slave trade. It also aims at raising awareness about the dangers of racism and prejudice Transatlantic slave trade which had taken place over the span 400 years is considered as the worst violation of human rights in history in which more than 15 million men, women and children were the victims.

7. Kerala’s popular Kadhaprasangam artistes and comedian V D Rajappan passes away

1. Kerala’s popular Kadhaprasangam (story telling) artiste and Malayalam film actor V D Rajappan passed away in Kottayam. He was 70. 

2. He was best known for his comic roles and for his unique style of stand-up comedy. He was known for his unique style of presenting Kadhaprasangam in a satirical manner.

8. DIPP notifies 49% FDI under automatic route in Insurance and Pension sector

1. The Union Commerce and Industry Ministry has notified foreign direct investment (FDI) upto 49% in insurance and pension sector will be under automatic route. In this regard, Department of Industrial Policy and Promotion (DIPP) has issued official notification to liberalise its FDI policy in insurance and pension sector. 

2. However, FDI above 49% will be subject to approval of the Foreign Investment Promotion Board (FIPB). Prior to this, only up to 26% FDI was permitted through the automatic approval route in insurance and pension sector. Union Government in 2015 had increased the FDI cap in insurance and pension sector to 49% from 26%, respectively. But it was subject to the condition that ownership and control remains with the Indian promoter at all times.

1. Pranab Mukherjee greets Greece on Independence Day

i. President Pranab Mukherjee has extended his greetings and felicitations to the government and people of Greece on the eve of their Independence Day. 

ii. In a message to President Prokopis Pavlopoulos he said, "On behalf of the government, the people of India and on my own behalf, it is with great pleasure that I extend warm greetings and felicitations to Your Excellency and to the people of the Hellenic Republic (Greece) on the occasion of your Independence Day. 

iii. India and the Hellenic Republic enjoy excellent relations based on our common commitment to shared values and our cultural ties that go back into antiquity," Mukherjee said.

iv. Both India and Greece seek to consolidate and strengthen their cooperation and take it to a higher level. 

v. He added "I would also like to take this opportunity to convey my best wishes for Your Excellency's well-being and for the continued progress and prosperity of the friendly people of the Hellenic Republic".

2. Arvind Kejriwal named among world’s 50 greatest leaders by Fortune

i. Arvind Kejriwal has been named among the world’s 50 greatest leaders by Fortune magazine with the Delhi Chief Minister being the sole Indian leader on the list topped by Amazon CEO Jeff Bezos.

ii. Fortune’s third annual ‘World’s 50 Greatest Leaders’ list features men and women from across the globe from the fields of business, government, philanthropy and the arts who are “transforming the world and inspiring others to do the same.”

iii. 47-year-old Aam Aadmi Party chief is ranked 42nd on the list and is the sole leader from India.However, South Carolina’s Indian-American Governor Nikki Haley is also on the list at 17th while another Indian- American Resham Saujani is at the 20th spot.

iv. Fortune credits Kejriwal for his efforts to curb pollution in New Delhi through the scheme of allowing vehicles of odd and even numbers on alternate days on the city’s roads.

v. The list includes German Chancellor Angela Merkel (2), Myanmar’s pro-democracy leader Aung San Suu Kyi at (3), US astronaut Scott Kelly and Russian cosmonaut Mikhail Kornienko (22), IMF Managing Director Christine Lagarde (36), Bill & Melinda Gates Foundation Co-chair and CEO Melinda Gates and Susan Desmond-Hellmann (41), Canadian Prime Minister Justin Trudeau (48) and Bhutanese Prime Minister Tshering Tobgay (50).

3. Asia most exposed to disasters, Africa most vulnerable: Study

i. Countries and mega-cities across Asia are highly exposed to natural hazards ranging from cyclones to earthquakes, but people in sub-Saharan Africa are more vulnerable, according to a report.

ii. Nearly 1.4 billion people in South Asia — India, Bangladesh, Pakistan — face at least one major threat from nature, especially flooding, severe storms boosted by rising seas, and quakes.

iii.In the case of Bangladesh, 100% of its population is exposed, compared to 82% for India and 70% in Pakistan.

iv. China, Indonesia, Japan and the Philippines are also among the nations with the largest numbers of people in harm’s way.

v. The United States, Mexico and Brazil round out the top ten.

4. Jaitley visiting Australia soon to woo investments

i. Finance Minister Arun Jaitley will fly to Australia on March 28 on a four-day visit to attract foreign investments in the infrastructure sector.

ii. The objectives of the finance minister's visit to Australia is to attract foreign investment in India, especially in the infrastructure sector among others.

iii. He will arrive in Sydney on March 29 and will address an interactive session of S.P. Jain School of Global Management followed by a meeting with Australian Foreign Affairs Minister Julie Bishop and unveiling of the state-run Union Bank of India's Sydney branch.

iv. On March 30, the finance minister will deliver the keynote address at 'Make in India' conference in Sydney, meet prominent chief executives of Australia, hold a bilateral meeting with Australian lawmaker and treasurer Scot Morrison and interact with the Indian community.

v. Jaitley will also have one-to-one meeting with chief executives of various Australian firms and visit the University of Melbourne to meet its vice chancellor Daniel Andrews.

5. Himachal, Mumbai to have electric buses

i. Department of heavy industry has granted in-principle approval to Himachal Road Transport Corporation (HRTC) and Mumbai Metropolitan Region Development Authority (MMRDA) to introduce zero-emission retrofitted electric buses.

ii. It is a flagship scheme under FAME India (faster adoption and manufacturing of hybrid & electric vehicles in India). 

iii. HRTC and MMRDA will roll out 25 electric buses each. Under FAME India, the department will fund up to 75 per cent cost of the buses.

iv. Himachal Pradesh would be the first state in India to introduce zero-emission electric buses. 

v. The chief minister also announced exemption from token tax, registration charges and value-added tax on all electric vehicles for five years to promote eco-friendly transport services in the state.

6. Tech Mahindra expands presence in France

i. The information technology services entity of Tech Mahindra has announced the launch of a development centre in Toulouse, France, to work on projects for existing partners and customers in the aerospace industry.

ii. There are significant investments planned in terms of people, infrastructure, recruitment and training, as a part of Tech Mahindra’s commitment to strengthening its presence in France.

iii. The company delighted to announce the inauguration of the new, expanded Delivery Centre in Toulouse, which marks a significant milestone for our organization. 

iv. The investment not only demonstrates our continued commitment to the region but also ensures that we are well positioned to fully support our partner's core activities with world class Engineering and IT services."

v. Tech Mahindra's local operation will have strategic importance by providing on-the-ground services to support this growing collaboration, increasing the size of the local team, and expanding recruitment in Toulouse and Midi Pyrenees' region.

7. Microsoft shuts Artificial Intelligence Robot – Tay

i. Microsoft, which launched artificial intelligence (AI)-powered bot on Twitter for a playful chat with people, only to silence it within 24 hours as users started sharing racist and offensive comments with the bot.

ii. Launched on Twitter as an experiment in “conversational understanding” and to engage people through “casual and playful conversation”, Tay was soon bombarded with racial comments and the innocent bot repeated those comments back with her commentary to users.

iii. Tay — an AI project built by the Microsoft Technology and Research and Bing teams — was coded with information which can tell users jokes or offer up a comment on a picture you send her.

iv. The bot is also designed to personalise her interactions with users. Microsoft has since deleted some of the most damaging tweets from nearly the 96,000 that Tay tweeted.

v. However, a website called Socialhax.com made screenshots of several of Tay’s comments before they were removed. Tay was seen referring to feminism as a “cult” and a “cancer”, as well as noting “gender equality feminism” and “i love feminism now.”

8. ITC acquires Technico Agri Sciences for Rs 121 crore

i. FMCG ITC Ltd said that it has completed the full acquisition of Technico Agri Sciences Ltd (TASL).

ii. The company owned by its direct subsidiary, Technico Pty Limited (TPL), Australia for a cash value of Rs 121 crore.

iii. As per a BSE filing by ITC The acquisition it is expected to “improve business and operational synergies”.

iv. The acquired company which is into production and sales of a registered category and field generated seed potatoes has been revenue positive for the past three fiscal years. 

v. In 2012-13, TASL's turnover stood at Rs 64.89 crore which climbed to Rs 73.94 crore in 2013-14 and further rocketed to Rs 105.54 crore in 2014-15. The value of the acquisition is the same as TASL's net worth.

9. RuPay to launch credit cards in Sept

i. RuPay the domestic card payment service provider will be venturing into the credit card space this September after increasing its market share to 38 per cent in the debit card segment.

ii. The NPCI plans to issue 100,000 such cards in the first year of its launch. 

iii. It will initially focus on two variants of a credit card — Regular and Platinum — and gradually extend its portfolio to offer co-branded cards.

iv. RuPay is a brand owned and developed by NPCI (from 2012) to compete against global payment schemes of the likes of Visa and MasterCard. NPCI was promoted by 10 Indian banks. 

v. From 2017, the target is to issue 500,000 to a million such credit cards every year. The market size of credit cards is presently 22.75 million users and the average value of spending a year is about Rs 2.5 lakh crore.

10. Lakshmi Vilas Bank Ties Up With NBHC For Collateral Management & Warehousing

i. Private sector Bank Lakshmi Vilas has tied up with National Bulk Handling Corporation (NBHC) for collateral management and warehousing services.

ii. The primary objective of these services will allow industry traders and farmers in financing their capital requirements at all stages of supply chain, ranging from pre-harvesting to the marketing and export stages.

iii. This would allow the bank to provide financial flexibility to farmers, minimizing the seasonal price fluctuations and distress sales during crop harvest season. 

iv. NBHC services to the needs of the members of the commodities future exchange for strong commodities and delivery through designated warehouses.

11. Hero Cycles Acquires 60% In Sri Lanka's BSH Ventures

i. Hero Cycles, the world’s largest bicycle manufacturer by volume has acquired 60 % stake in one of Sri Lanka's leading bicycle manufactures BSH Ventures. 

ii. It is third major acquisition within six months. 

iii. The acquisition comes to strength its global presence and to spruce up its manufacturing proficiency to feed a rapidly rising global demand.

iv. This comes within months of the company’s significant acquisitions in UK-based Avocet Sports and Firefox Bikes. But Hero Cycles has not disclosed its investments in the deals involved. 

v. presently Hero Cycles has been aggressively driving growth by clocking a robust 11% growth in the Indian market. It will further invest in ramping up the plant capacity in Sri Lanka to half a million units per year with clear plans laid out to fuel the domestic as well as ever-growing global demand. 

12. Paytm hires Alibaba’s former executive as President

i. Paytm, India’s mobile payment and commerce platform has appointed ex-head of Alibaba Group Holding’s wholesale business, Bhushan Patil as the company’s new President.

ii. Bhushan Patil joins Paytm as President after serving 5.5 years at the Chinese company, where he was handling operations of Alibaba.com. 

iii. He will now focus on building Paytm’s cross border commerce.

iv. At the largest B2B marketplace, Bhushan was instrumental at leading new initiatives for Global Markets business development across SME linked associations, Banks and Government trade organizations, local trade services and e-companies.

v. Paytm’s Indian business is growing increasingly as it is aiming to sell USD two billion worth of products in 2016 with a growth of five lakh from 1.7 lakh currently.

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