Extensive Coverage Of Current Affairs 9/3/2016

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International Affairs

• Prime Minister Narendra Modi will inaugurate a 100 MW power supply toBangladesh by remote control from Tripura’s Palatana plant on 23rd March 2016. 
• Note : Bangladesh Prime Minister Sheikh Hasina would provide 10 GB Internet bandwidth to India on the same day. 
• The United Nations Population Fund (UNFPA) and the United Nations Children's Emergency Fund (UNICEF) jointly launched the Global Programme to Accelerate Action to End Child Marriage.
• It is a multi-country initiative and is part of a global effort to prevent girls from marrying too young.

National Affairs

• In collaboration with New York-based National Resources Defence Council, the government is launching a programme to protect people from extreme heat in Bhubaneswar and Nagpur.
• Under the programme, weekly weather forecasts, extra water supplies, cool-air shelters, and afternoon breaks for workers, will be introduced. 
• Note : A heat wave killed at least 2,500 people across the country last year.
• Karnataka government has launched Mukhyamantri Santwana Harish Yojanato provide Free medical treatment to road accident victims for the first 48 hours (2 days) in the nearest government or private hospital. 
• The scheme has been named after Harish Nanjappa who had donated his eyes moments before his death. 
• He had died as no help was provided to him after he was  severely injured in mishap in February 2016 .
• Government has announced that more than four lakh Jobs will be generated under Prime Minister’s Employment Generation Programme (PMEGP) during 2016-17. 
• Minister of Micro,Small and Medium Enterprises Mr Kalraj Mishra informed,that a sum of Rs 1,139 crore will be utilized during the next financial year under PMEGP to assist 55 thousand projects with Margin Money. 
• The Maharashtra government has distributed ₹2,536 crore to drought-affected farmers.
• The Delhi Pollution Control Committee (DPCC) is planning to install sound-level meters at wedding venues to keep a check on noise pollution. 

Business & Economy

• Rajasthan Chief Minister Vasundhara Raje today presented a ₹99,693 crore annual budget for the state. 
• Social and community services accounted for 38.22% of the budget allocations while the power sector constituted 31.64%. 
• Further, two initiatives, one which incentivises the girl child's education and the other which aims at training 1.5 lakh schoolgirls in self-defence, were introduced.
• Mozilla today rolled out an update for its open-source web browser Firefox for Windows, Mac, Linux, and Android platforms, featuring a new free cross-browser video chat app called 'Firefox Hello'. 
• Technology non-profit organisation Nasscom Foundation has received $4.78 million in donation from the Bill and Melinda Gates Foundation to modernise public libraries with the help of technology. 
• Note : Nasscom Foundation has launched Indian Public Library Movement under which it will provide computers, training staff and supporting classes and programs at 300 district-level libraries across India.
• The government is going sell up to 5% of its stake in the Railways Ministry-controlled company Container Corporation of India (Concor) at a floor price of₹1,195 per share starting today. 
• Note : The government currently holds 61.79% stake in the company.
• Private lender Yes Bank yesterday launched an all-women operated bank branch ‘Yes Grace’ on Cunningham Road, Bengaluru aimed at offering customised banking solutions to women.
• The new branch, served by eight employees currently and with plans to raise the count to 12, will also drive for financial literacy, family banking, safety and wellness amongst women.
• Bajaj Power Generation Company has signed an agreement with Indian Railways for electrification of the Lalitpur-Udaipura rail section under the public private partnership (PPP).
• The Railways would complete the electrification work in a year's time under its customer funding scheme, which would cost nearly Rs 47 crore.

New Appointments

• CA Media Digital today said it has appointed Vivek Jain as Chief Executive Officer.
• Prior to joining CA Media Digital, Jain was associated with Reliance Jio as vice president, Digital Media Products. He has also worked with Amazon, Google and Motorola.

Awards & Honors

• Actress Sonakshi Sinha was awarded a certificate for a Guinness World Recordas part of 'most people painting their fingernails simultaneously’. 
• For setting the record, 1,328 women in unison painted their nails at the event held by makeup brand 'Inglot' at the Palladium in Mumbai. The event was held on the occasion of International Women’s Day yesterday.

Science & Technology

• NASA today announced that it has delayed the launch of its next Mars mission 'InSight' to May 5, 2018. 
• The mission is aimed at studying and learning more about the Red Planet's interior and the surface. The launch was originally scheduled for this month but was put on hold indefinitely after a leak was discovered in a spacecraft instrument.
• Autorickshaws that run on solar power were launched in Bengaluru. 
• The electric auto is named ElecRic and it does not emit any air pollutants. 
• ElecRic has been designed by RJMS-EV, a private company that manufactures electric vehicles and their components in Bengaluru. 
• Google's DeepMind Artificial Intelligence (AI) 'AlphaGo' today defeated the 33-year-old 'Go' World champion Lee Sedol from Korea in the first match of their five-match battle. 
• Note : China-originated 'Go' is a board game played on a 19x19 matrix and is considered to be more complex than chess.

Deaths

• George Martin, the producer of British rock band 'The Beatles', passed away. 
• Popularly known as the 'fifth Beatle', Martin served as producer, collaborator and mentor to Beatles John Lennon, Paul McCartney, George Harrison and Starr.

Sports

• The International Cricket Council (ICC) today announced that the ICC World Twenty20 match between India and Pakistan, which was scheduled to be played in Dharamsala on March 19, will be shifted to Eden Gardens, Kolkata. 
• Note : The Pakistan Cricket Board (PCB) had asked the ICC for a change in venue because of security concerns over the original venue Dharamsala.

NATIONAL:

Widow Marriage included under Mukhyamantri Kanya Vivah Yojana in Madhya Pradesh:

·        Madhya Pradesh Chief Minister Shivraj Singh Chouhan  announced inclusion ofwidow marriage under the state government’s Mukhyamantri Kanya Vivah Yojana.

·        The announcement made on International Women's Day in Bhopal aims at promoting marriage of widows.

·        While announcing that marriages will also be solemnised under the Yojana, CM Chouhan said that two lakh rupees will be sanctioned for widow marriage.

·        Besides, he also announced that to prevent violence against women, state government will open Usha Kiran Centres in every district of the state.

UP felicitated acid attack survivors on International Women’s Day:

·        In Uttar Pradesh, on the International Women’s Day​ , ​the ​acid attack survivors  felicitated and provided financial assistance in Lucknow​.

·        Chief Minister Akhilesh Yadav will honour around 40 survivors with the Rani Laxmi Bai award at his official residence. Other women achievers and change makers will also be felicitated on the occasion.​

·        Asha Jyoti Centres in 11 districts and 181 helpline will also be launched along with the rescue vans associated with the centres. ​ Among the highlights of the day is a cycle rally in which women from across the state will participate

Germany to develop Bhubaneswar, Kochi, Coimbatore as smart cities:

·        Germany will partner with India in turning Bhubaneswar into a smart city. State Secretary in the German ministry of Environment, Nature Conservation, Building and Nuclear Safety, Gunther Adler announced this at a press conference in New Delhi yesterday.

·        He said along with Bhubaneswar, Germany also wants to be a partner in Coimbatore and Kochi Smart Cities programme in order to assist Indian cities in implementing their plan.

·        He said, the Government of India last year invited Germany to be a partner in its Smart Cities programme.

India, ASEAN Plus multilateral military exercise FORCE 18 concluded in Pune:

·        Exercise FORCE 18, the largest ground forces multinational field training exercise on Humanitarian Mine Action and Peacekeeping Operations concluded in Pune, Maharashtra.

·        The closing ceremony of the multilateral military exercise between the Indian Army and Armies of countries from the ASEAN Plus was presided over by General Dalbir Singh, Chief of Army Staff.

·        The closing ceremony began with marching in of contingents from the participating ASEAN Plus countries followed by National Anthem and ASEAN Anthem.

·        FORCE 18, which was conducted from 2 March to 8 March 2016, was the largest Ground Forces Exercise ever conducted on Indian soil.

Parliament passes bill to enable govt to standardize more products, Hallmarking of precious metals to be mandatory:

·        Parliament has passed the Bureau of Indian Standards Bill- 2015 with the Rajya Sabha approving it. It extends the ambit of the Bureau of Indian Standards (BIS) to include services, processes and products while ensuring production of world class goods.

·        The Bill also proposes to make BIS a national standards body, introduce mandatory hallmarking of precious metals, prevent misuse of standard marks and provides for recall of ISI marked products not conforming to relevant standards.

·        Now, the Bureau of Indian Standards would also get the legislative backing to formally represent India abroad.

Karnataka launched Mukhyamantri Santwana Harish Yojana for accident victims’ free treatment:

·        The Karnataka Government launched Mukhyamantri Santwana Harish Yojana to provide free treatment to road accident victims for the first 48 hours in the nearest government or private hospital.

·        The scheme is named after Harish Nanjappa, who donated his eyes moments before his death in a road accident in February 2016.

Meghalaya police extended Operation Hillstorm 3 by three months:

·        Operation Hillstorm 3: Combat operation of Meghalaya police

·        Combat operation of Meghalaya police, code-named 'Hillstorm 3',launched in the Garo Hills and West Khasi Hills districts of the state.

·        It was launched against the backdrop of intelligence reports that GNLA (Garo National Liberation Army) militants have entrenched in Durama hills areas.

·        The Meghalaya have sought 12 additional companies of central paramilitary forces and six units of CoBRA battalion for its operation against militants in the Garo Hills region.

·        Special Force-10 Commandos, who are under intense commando training in jungle warfare, would also be inducted for special operations against the militants in Garo Hills

Cycling event of Indian Army with theme Cycle to Recycle flagged off:

·        Cycle to Recycle: Theme of Indian Army cycling event

·        Cycling event of Indian Army with the theme ‘Cycle to Recycle’ was flagged off on 8 March 2016 from Pangsau Pass on the India-Myanmar border.

·        It was flagged off by Brigadier DK Singh, Commander of the 25 Sector Assam Rifles based at Lekhapani in Tinsukia district.

India will induct its first batch of female fighter pilots in June:

·        On International Women’s Day, Air Chief Marshal Arup Raha announced that the nation will see its first batch of female fighter pilots on June 18 this year.

·        As of now three women trainees have volunteered to affix the fighter stream. They’re under the second part of their coaching.

·        The Defence Ministry had cleared the proposal of inducting ladies as fighter pilots in October last year.

Railways appoints EY to mop up Rs. 5,000 crore ad revenue:

·        Indian Railways has appointed global consultancy firm Ernst &Young (EY) to help the utility mop up advertising revenues worth over Rs.5,000 crore in the next few years.

·        Initiating a large-scale significant exercise to identify and leverage pan-India advertising opportunities at railway stations and trains, Indian Railways has appointed EY as consultant to undertake this job on its behalf.

PM’s Employment Generation Programme aims to create over 4 lakh jobs in 2016-17:

·        Government has said that more than four lakh Jobs will be generated under Prime Minister’s Employment Generation Programme (PMEGP) during 2016-17.

·        Minister of Micro,Small and Medium Enterprises Mr Kalraj Mishra informed,that a sum of Rs 1,139 crore will be utilized during the next financial year under PMEGP to assist 55 thousand projects with Margin Money.

·        He also said that to promote entrepreneurship skills among the next generation, his Ministry has proposed to give Entrepreneurship Education and Training through Massive Open Online Courses. This Training will be provided in 2,200 colleges, 300 schools, 500 Government and 50 Vocational Training Centres.

Employers can file unified EPF, ESI returns from today:

·        The Centre will launch a common registration facility on e-biz portal which will enable employers to avoid filing separate Employees’ Provident Fund (EPF) and Employees’ State Insurance (ESI) returns.

·        The Labour ministry has decided to integrate the registration process under five Labour Acts with the e-biz portal of the Department of Industrial Policy & Promotion (DIPP).

·        The ShramSuvidha Web-Portal activated the facility for allotment of LIN and the Transparent Inspection Scheme.

·        Further, facility for online submission of Common Electronic Challan-cum-Return (ECR) for Employees’ Provident Fund Organization (EPFO) and Employees State Insurance Corporation (ESIC) has been developed on the ShramSuvidha Portal.

·        The Labour Ministry in a release said that this service will reduce the transaction costs of business and make it easy and convenient for employer or establishment to meet their obligations.

Telangana, Maharashtra to ink MoU for five irrigation projects:

·        Telangana and Maharashtra governments will be signing Memoranda of Understanding to construct five barrages across Godavari and Pen Ganga rivers.

·        The two states have already expressed mutual consent to construct barrages at various points on these rivers to benefit farmers in both states.

·        Telangana will also construct Thammidihatti barrage across Pranahita a tributary to Godavari in Adilabad district and Medigadda barrage across Godavari in Karimnagar district.

·        The two states will share irrigation water from Medigadda. On completion of all these projects, over 18 lakh acres will get irrigation facility in the two states. Irrigation experts say that these agreements between Maharashtra and

·        Telangana on water sharing will script a new history especially when several projects are being delayed due to inter-state water disputes in the country.

INTERNATIONAL:

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

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

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

Iran to resume oil exports to pre-sanction level:

·        Iran says it is aiming to restore oil exports to level that existed prior to western sanctions.

·        Iranian President Hassan Rouhani, Iran exported more than 2.6 million barrels of crude oil a day in 2011 before the sanctions.

·        The sanctions then cut the country’s exports to around 1 million a day. The country’s oil exports are expected to rise to 2 million barrels per day within the first half of this year.

·        Mr Rouhani said, Iran’s economy grew 3 percent in the current Iranian calendar year, which ends on 20th March. He said, the country would see a leap in economic growth next year.

Iran launches ballistic missiles during military exercise:

·        Iran’s Revolutionary Guard launched several medium-range and short-range ballistic missiles as part of a military exercise.

·        The missiles had ranges of between 300 and 2,000 kilometers (185-1,250 miles), Gen. Amir Ali Hajizadeh, head of the Guard’s aerospace division.

·        The longer ends of that range appear to exceed limits that the U.N. Security Council has imposed in connection to resolutions banning Iran from developing missiles capable of carrying nuclear warheads.

APPOINTMENTS:

CA Media appointed Vivek Jain as CEO of digital business:

·        CA Media Digital (India) Pvt. Ltd. appointed Vivek Jain as its Chief Executive Officer (CEO).

·        CA Media Digital is the digital wing of CA Media LP, which is owned by The Chernin Group, KKR and other investors.

BANKING AND ECONOMY:

Volkswagen India faces Rs 600-cr penalty for ‘undervaluing’ cars:

·        The Central excise department has accused three Volkswagen firms of evading duty of over Rs 323 crore by undervaluing cars that were sold in India between January 2010 and December 2014, according to an adjudication order passed by principal commissioner of central excise in Pune on February 29.

·        The three firms are Volkswagen India, Skoda Auto, Aurangabad and Volkswagen Group Sales India. According to the Directorate General of Central Excise Intelligence (DGCEI), the three firms paid duty on the value of the car at the factory gate.

Debit cards: RBI proposes rationalisation of charges:

·        The Reserve Bank of India (RBI) has proposed rationalisation of Merchant Discount Rate (MDR) on debit cards and the formation of Acceptance Development Funds (ADFs) to encourage wider deployment of card acceptance infrastructure.

·        The high cost of acquisition and poor revenue from the acquisition business is one of the most significant reasons for low growth in acceptance infrastructure. The major source of revenue in the card business is the merchant discount rate. The paper outlines strategic options for addressing the issue of both expansion of card acceptance infrastructure as well as rationalisation of MDR.

Yes Bank launches all women branch in Bengaluru:

·        Private lender Yes Bank launched an all-women operated bank branch ‘Yes Grace’ on Cunningham Road here aimed at offering customised banking solutions to women.

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

·        Simultaneously , two more all-women bank branches were opened in at Kalkaji, New Delhi and Vile Parle (E), Mumbai with plans to open more branches in major cities.

Syndicate Bank: CBI registers case in 1,000-crore alleged fraud:

·        The Central Bureau of Investigation (CBI) has registered a case against several senior officers of Syndicate Bank and others for causing an alleged loss of 1,000 crore to the state-owned bank.

·        The case has been registered under the Prevention of Corruption Act for alleged fraud committed at Syndicate Bank branches in Udaipur and Jaipur (Malviya Nagar and MI road).

·        It is alleged that the accused, in connivance with bank officials, committed a fraud of Rs.1,000 crore (approximately) by resorting to discounting fake cheques and bills against fake letters of credit (LC) and arranging overdrafts against non-existent LIC policies.

Women spend more time on Google than men:

·        Search engine Google has revealed that Indian women spend more time searching on Google than men do. Middle-aged women in the age group of 35 to 44 years spend more time on Google search, and in terms of year-on-year growth of “time spent in minutes”, they surpassed men of the same age category by a whopping 123 per cent.

·        India currently holds the world’s third largest internet user base after China and the U.S. with approximately 325 million active users.

BUSINESS:

Air India operates world’s longest all-women flight:

·        National carrier Air India successfully flew the World’s longest all-woman operated and supported flight from the national capital New Delhi to San Francisco (United States).

·        The flight was operated as part of International Women’s Day celebrations and travelled a distance of around 14,500 kilometres in close to 17 hours. The non-stop flight to San Francisco took off on 6th March 2016 from New Delhi.

·        The flight was under the command of Kshamta Bajpayee and Shubhangi Singh. They were supported by First Officers Ramya Kirti Gupta and Amrit Namdhari. Entire operations in this historic flight on one of the world’s longest route were handled by women.

Gujarat tops the list of states with most investment potential:

·        Gujarat has topped the list of 21 states with most investment potential that has been drawn up by economic think-tank NCAER.

·        Gujarat is followed by Delhi, Tamil Nadu, Andhra Pradesh and Maharashtra.

·        The ranking of 20 states and one union territory of Delhi was based on five pillars – labour, infrastructure, economic climate, governance and political stability, perceptions – and 51 sub-indicators.

·        The objective of the survey was to get the industries’ perception on issues related to land, labour and infrastructure and governance; business climate in their respective states and various other challenges faced by the industrialist.

Indian Railways Signs Agreement with Bajaj Powers:

·        Bajaj Power Generation Company has signed an agreement with the Indian Railways for electrification of the Lalitpur-Udaipura rail section under the public private partnership (PPP).  

·        Bajaj the Railways would complete the electrification work in a year's time under its customer funding scheme.  

·        Bajaj Power Generation Company (BPGC) is setting up a 1,980 megawatt (mw)thermal power plant in Lalitpur district of Uttar Pradesh. While, two units of 660 mw each had already been commissioned in September and December 2015 respectively, the third unit of 660 mw is scheduled to start generating later this month. 

Banks disburse over Rs 1.15 lakh cr under PM Mudra Yojana:

·        Banks have so far disbursed over Rs 1.15 lakh crore under Pradhan Mantri MUDRA Yojana (PMMY), Financial Services Secretary Anjuly Chib Duggal said today. 

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

·        Under PMMY, loans between Rs 50,000 and Rs 10 lakh are provided to small entrepreneurs. "We have been working with MUDRA. It has been a runaway success.

·        The scheme was launched by Prime Minister Narendra Modi in April last year. 

·        Three products available under the PMMY are Shishu, Kishor and Tarun, to signify the stage of growth and funding needs of the beneficiary micro unit or entrepreneur. 

SCIENCE AND TECHNOLOGY:

Microsoft opens up database software to Linux:

·        Microsoft Corp has planned to announce its move into a new business, unveiling a database software that works with a rival to its Windows operating system, a move that takes aim at a market long dominated by Oracle Corp.

·        Microsoft’s new database product will work with the Linux operating system. The move is the latest to show Microsoft’s increasing willingness to work with competing products, a radical change for the once fiercely protective company.

IAEA to transfer Sterile Insect Technique under 2.3 Million Euro Project to Combat Zika:

·        The Board of Governors of International Atomic Energy Agency (IAEA) approved a 2.3 million euro initiative to help Latin American and the Caribbean countries fight against Zika virus.

·        The spread of the virus will be tackled with a nuclear technique that has been used to suppress various insect pests.

·        Under this project, IAEA will transfer the Sterile Insect Technique (SIT), a form of pest control that uses ionizing radiation to sterilize male insects mass-produced in special rearing facilities.

SPORTS:

World Cup T20: RJio to give free WiFi at 6 stadiums:

·        Telecom operator Reliance Jio will provide free WiFi services at six cricket stadiums during the upcoming T20 World Cup matches.

·        Reliance Jio will install WiFi network at six stadiums that will be complimentary for audience and provide unlimited access.

·        The company’s WiFi network Jio Net will be available in Eden Garden at Kolkata, Wankhede Stadium (Mumbai), IS Bindra Stadium (Mohali), HPCA stadium (Dharamshala), Chinnaswamy Stadium (Bengaluru) and Feroz Shah Kotla (Delhi).

OBITUARY:

George Henry Martin, legendary producer for the Beatles, died:

·        The legendary music producer George Henry Martin died on 8 March 2016. He was 90 years old.

·        George Martin was popularly known as the fifth Beatle as he signed the Beatles and became their indispensable mentor and collaborator.

1) Air India operated world’s longest all-women flight on 7 March 2016 on the eve of the International Women’s Day. This historic flight was between which cities? – New Delhi and San Francisco

Explanation: The flight between New Delhi (India) and San Francisco (United States), which travelled a distance of around 14,500 kilometers in close to 17 hours, was operated as part of International Women’s Day celebrations.

– The flight was under the command of Kshamta Bajpayee and Shubhangi Singh, along with First Officers Ramya Kirti Gupta and Amrit Namdhari.

– Apart from this, entire flight operations from cockpit crew to cabin crew, check-in staff, doctor, customer care staff, ATC (air traffic control) and the entire ground handling were handled by women for this historic flight.

……………………………………………….

2) In an important development, Union Finance Minister Arun Jaitley on 8 March 2016 withdrew the controversial Budget proposal to tax 60% of Employees Provident Fund (EPF) balances at the time of withdrawal. However, the proposal to not to tax 40% of money withdrawn from which system has been retained? – National Pension Plan (NPS)

Explanation: After rolling back of the controversial EPF tax proposal, the National Pension Scheme, or NPS, will continue with its earlier structure, in which only 40% would be tax free at withdrawal.

– In his Budget proposals on 29 February 2016 the Finance Minister had said only 40% of the total accumulated EPF balance would be tax-free. This essentially meant that on withdrawal of EPF, 60% of the corpus, accumulated after 1 April 2016, would attract tax and the remaining 40% would be tax-free.

– The proposal was proposed to apply only to those who earned more than Rs. 15,000 a month.

– However, the proposal was met with vociferous opposition from the salaried class, as well as from Opposition parties. Hence, the controversial EPF tax proposal was withdrawn on 8 March.

……………………………………………….

3) Which female tennis star, with 6 Grand Slam singles titles in her name, on 7 March 2016 accepted having failed a drug test at the Australian Open due to a substance she has been taking for 10 years for health issues and was provisionally suspended from 12 March? –Maria Sharapova

Explanation: 28-year old Russian tennis star, who is also the highest-paid woman in sports, on 7 March created a huge flutter in tennis circuit when she admitted using meldonium for health issues. She accepted taking the drug for last 10 years and said this was a big mistake.

– She thus became the seventh athlete in a month to test positive for meldonium, which is used to treat diabetes and low magnesium, and was only banned by the World Anti-Doping Agency as of 1 January 2016.

– Sharapova said her family doctor had been giving her mildronate, which is also called meldonium, for 10 years after she frequently became sick, had irregular EKG results, a magnesium deficiency and a family history of diabetes.

– Sharapova is the biggest name in sport to test positive since New York Yankees baseball slugger Alex Rodriguez was banned for a year in 2013 after using performance-enhancing drugs and American cyclist Lance Armstrong was banned for life from racing in 2012 after a U.S. Anti-Doping investigation.

– According to Forbes, she earned $29.5 million in 2015, mostly from endorsements.

……………………………………………….

4) Which private bank on 8 March 2016, on the occasion of the International Women’s Day, announced that it will allow women employees to work from home for up to a year? – ICICI Bank

Explanation: In its latest initiative, ICICI Bank on 8 March said that it will allow its 21,000 women to work from home for up to a year and even take their children and care-giver on business trips, in a move to retain talent.

– The country’s largest private bank, which is headed by a woman (Chanda Kocchar), has about 70,000 employees, 30% of whom are women.

– Two years ago, the bank conducted a survey among its women employees who left the bank and nearly two-thirds of those surveyed said they quit their job because of child care responsibilities and long commutes.

– Taking cognizance of this problem, it rolled out of its iWork@home initiative on a pilot basis a few weeks ago and while the programme will enable employees to work from home for up to a year initially, it can be further extended.

……………………………………………….

5) A sort of history was created on 7 March 2016 when India’s first test tube baby Harsha delivered a baby boy under the same gynaecologist who was involved in her own birth. What is the name of this famous gynaecologist? – Dr. Indira Hinduja

Explanation: Baby Harsha (now Harsha Shah) was India’s first test tube baby, a feat that had made IVF specialist Dr. Indira Hinduja a household name in the country. So, Dr. Hinduja was the natural choice for a gynaecologist when Harsha conceived last year.

– Dr. Hinduja came to limelight again on 7 March 2016 as she helped delivered baby Harsha’s baby at Jaslok Hospital (Mumbai). Along with Dr. Hinduja was Dr. Kusum Zaveri, the same team that had delivered Harsha in 1986 in KEM Hospital.

:: NATIONAL ::

Banks seek travel ban on Vijay Mallya

• The Supreme Court agreed to urgently hear a plea by a consortium of banks, led by SBI, for a restraint order to prevent liquor baron Vijay Mallya, who owes them over Rs. 9,000 crore, from the leaving the country.
• A Bench, led by Chief Justice of India T.S. Thakur, ordered that the case be listed for hearing on March 9 after Attorney-General Mukul Rohatgi sought an urgent audience. The action followed a Karnataka HC decision refusing to grant them an ex-parte interim order against Mr. Mallya, the U.K.-based Diageo Plc and United Spirits Limited.
• The banks told the Supreme Court that the threat to their financial interests were so immediate and grave that the High Court should have passed the interim order without first hearing the embattled industrialist and others, including the debtor firm Kingfisher Airlines Limited.
• The banks want the Supreme Court to pass an interim order to freeze Mr. Mallya’s passport or direct him not to leave the jurisdiction of this country without the court’s permission.
• The banks had moved the DRT in the backdrop of Mr. Mallya’s recent resignation from the chairmanship of United Spirits. Diageo Plc, the current owner of the liquor company, has agreed to pay Mr. Mallya $75 million (roughly Rs 515 crore) in severance package.

SC says government should take every measure to provide voting right to soldiers

• The Supreme Court stood up for the constitutional right of soldiers to vote, noting that they risked their lives to protect the borders, from the icy Siachen glacier to the remote and harsh terrains of Jammu and Kashmir and the North-East.
• The Centre should pull all stops to ensure that the soldiers’ voices are heard loud and clear during election results, the court said.
• SC directed the Centre to finalise a fool-proof mechanism to ensure that their postal ballots reached authorities in time so that these soldier do not feel left out in the country’s democratic process.

IRNSS-1F navigation satellite will be put into orbit on Mar 10

• The countdown for the launch of Polar Satellite Launch Vehicle PSLV-C32 began at the Sathish Dhawan Space Centre at Sriharikota in Nellore district.
• The 54-hour countdown will conclude on March 10 at 4 p.m. when the PSLV will be launched to put the 1,425-kg IRNSS-1F navigation satellite into orbit.
• SHAR director P. Kunhikrishnan and other space scientists are closely monitoring the progress of the countdown.
• With this, the ISRO is moving closer to the task of completing the Indian Regional Navigation Satellite System with seven satellites.

Civil society and government will come together on Conference on South-South Cooperation

• Almost all the major civil society organisations of India will participate in the March 10-11 “Conference on South- South Cooperation”, being organised by the Research and Information System for Developing Countries (RIS) of the MEA, to showcase the expanding space for civil society organisations in the scheme of the External Affairs Ministry.
• This comes after the Ministry of External Affairs displayed the achievement of the civil society organisations in the field of sustainable development and renewable energy during the Cop21 Paris climate change conference and the India Africa Summit of 2015.
• New South-South cooperation is needed in view of the shrinkage of resources in the developed North and the emergence of South as a new centre of economic activity.
• The conference, to be attended by at least 100 experts from the field of international affairs and development economics, will be a platform for the Government's long term plan to use development assistance as a tool for India’s diplomacy.
• The Ministry of External Affairs has been showcasing civil society initiatives at the international level and also used organisations like the Barefoot College of Tilonia to highlight India's commitment to the sustainable development goals (SDGs).
• In addition to the civil society connection, the conference will also launch the Network of Southern Thinktanks (NeST) which will connect think tanks across Africa, Southeast Asia, Central and South Americas.

:: INTERNATIONAL ::

Plan to reduce refugee crisis tentatively agreed

• EU and Turkish leaders sought to turn into a lasting accord a plan on easing Europe’s refugee crisis hailed as a game-changer by Ankara and Brussels but swiftly criticised by the UN’s refugee chief.
• The day after agreeing the tentative plan following late night talks in Brussels, Turkish Prime Minister Ahmet Davutoglu was to discuss how it could work in a crucial meeting with his Greek counterpart Alexis Tsipras.
• The EU is wooing Turkey — used by over one million migrants in the last year as a springboard for reaching the bloc — as the key player in helping ease Europe’s worst migrant crisis since World War II.
• A key pillar of the mooted deal was the unexpected offer by Ankara to take back every irregular migrant that crosses from Turkey to the islands of EU member Greece.
• In return, the EU would then resettle one Syrian living in Turkey on its territory for every Syrian migrant it takes back from Greece.
• The hope is that the plan will eliminate incentives for migrants to come to Greece by boat, but it ran into swift opposition from the head of the UN refugee agency Filippo Grandi.
• Turkey and Greece signed a protocol over the readmission of migrants in 2002 but it has rarely been activated and its use could transform the refugee crisis.
• German Chancellor Angela Merkel — who has been the strongest proponent of a deal with Turkey — gave cautious support. “It is a breakthrough if it becomes reality,” she told reporters.
• European Commission chief Jean-Claude Juncker also called the plan a “real game changer,” insisting that it was “legally feasible.”
• Turkey is the main launching point migrants making the dangerous crossing over the Aegean Sea to the Greek islands. It hosts 2.7 million refugees from the five-year civil war in neighbouring Syria, more than any other country.
• For Turkey, perhaps the biggest gain was the European Union’s agreement to bring forward to June visa-free travel to the bloc’s Schengen passport-free area for Turkey’s 75 million people, provided that Ankara honours its promises.

China warns of action in Korean region

• An assertive China warned that it would not hesitate to intervene if its fundamental interests on the Korean Peninsula were harmed, and made it plain that its deep-rooted ties with the South China Sea could not be rivalled by any foreign power.
• At an annual press conference, Chinese Foreign Minister Wang Yi set several markers to explain the broad thrust of Beijing’s evolving, and increasingly bold, foreign policy, where growing competition with the U.S. was the underlying theme.
• In his detailed response to a query on spiralling tensions in the Koreas, Mr. Wang said China would not “sit by and see” the destabilisation of the peninsula.
• Yet, in order to defuse tensions, Mr. Wang advocated a multi-pronged approach where denuclearisation of the peninsula would be combined with signing of a formal peace treaty.
• That would replace the 1953 Armistice, which was meant to “insure a complete cessation of hostilities and of all acts of armed force in Korea until a final peaceful settlement is achieved”.
• The Korean Peninsula is on edge following the start on Monday of the largest-ever U.S.-South Korea military exercise, which has been fused with North Korea’s threat of a pre-emptive nuclear strike.
• In an obvious reference to the U.S., Mr. Wang asserted: “I want to remind some people that freedom of navigation doesn’t give them the licence to do whatever they want. If someone wants to muddy the waters in the South China Sea and to destabilise Asia, China will not agree to it and I think the overwhelming majority of countries in the region will not allow that to happen.”
• The Chinese foreign minister stressed that China’s emotional and historical bonds with the South China Sea could not be rivalled by any other power.

:: Business and ECONOMY ::

Banks looking to change strategy to keep talented employees

• State-run lenders like Bank of Baroda and IDBI Bank are planning to offer stock options to staff in a bid to retain top talent.
• This assumes significance in the backdrop of the imminent entry of 21 new niche banks which have been granted licences by the RBI to begin operations, as well as the prospect of a clutch of mid-management professionals reaching retirement age soon.
• The lender, which is planning to increase the employee strength to 21,500 by March 31, 2019 from the 15,500 at present, is not only working out a scheme for career progression but also mulling an employee stock option plan (ESOP) to incentivise them.
• The board had already approved the ESOP. Now, the bank will write to the government for its approval.
• State Bank of India (SBI), the country’s largest lender, had floated the idea of ESOP for its employees some time ago. However, the proposal is still awaiting government’s approval.
• Most banks plan to offer stock options to their employees in the rank of assistant general manager and above.
• Union Finance Minister Arun Jaitley had said recently that the government was actively discussing the proposal for Employee Stock Ownership Plan (ESOP) for public sector bank employees.
• Public sector banks are facing headwinds on the human resources front as many mid-management officers are retiring over the next five years, prompting the central bank to term it a ‘retirement decade.’
• In addition, the 21 new banks, which have received differentiated licences from the Reserve Bank of India (RBI), will try to poach employees from existing banks.
• In August-September last year, RBI has granted licences to 11 payment banks and 10 small finance banks to start operations.
• While these banks were given 18 months’ time to roll out services, most of these entities are expected to start operations in 2016.
• At a lower level, public sector institutions pay better than their counterparts. But while progressively going up, there is a gap that really becomes unmanageable.

RBI says banking infrastructure is not good enough

• Growth of card acceptance infrastructure like automated teller machines (ATMs) and point-of-sale (PoS) terminals is not on a par with that of card issuance.
• This was observed by the Reserve Bank of India (RBI) in its concept paper on card acceptance infrastructure released on Tuesday.
• Another disconcerting feature is that the rate of growth in setting up card acceptance infrastructure has also slowed down during these three years.
• Debit cards vastly outnumber the volume of credit cards issued in the country. Further, a high number of debit cards have been issued in recent times under the Prime Minister’s Jan Dhan Yogana, especially to customers in rural areas and smaller towns.
• According to the concept paper, the lower growth of ATM and PoS terminals, both in terms of numbers and geographical spread, has impacted card use.
• Cash continues to be the predominant mode of payment as it appears to be “costless” in comparison to the visible costs associated with card/electronic payments.
• Some of the factors that have inhibited growth in the acceptance infrastructure are lack of adequate and low-cost telecom infrastructure and lack of incentive for merchants for acceptance of cards, among others.

:: Sports ::

BCCI says despite problems India-Pak match will happen

• The Board of Control for Cricket in India (BCCI) has said the India-Pakistan World Twenty20 Cricket match at Dharamsala will be held as per schedule (on March 19) and that “the State government was on board.”
• After an hour-long meeting with senior officials of the Ministry of Home Affairs (MHA) at North Block, Tournament Director M.V. Sridhar said the Himachal Pradesh government was on board for the cricket match.
• The statement assumes significance as Himachal Pradesh Chief Minister Virbhadra Singh had opposed the match and even told a visiting Pakistani team a day ago that the State government would not provide any security to the cricket team.
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Paytm gets ready for first Payment Bank

i. The country’s largest mobile wallet provider Paytm has got into a strategic tie-up with Florida-based global provider dedicated to banking and payments technologies FIS Global.

ii. The deal size would be worth close to Rs 150 crore over a period of five years.

iii. FIS, a Fortune 500 company, would help Paytm with core banking system.

iv. Paytm payments bank would set up nearly 20 signature branches. In addition, there will be 200 smaller store-like branches and at least 1,000 agents

Mumbai to host BRICS Friendship Cities Conclave in April

i. Mumbai financial capital of India to host BRICS Friendship Cities Conclave in April involving top Urban Policy makers and Planners from BRICS Nations.

ii. A think- tank working to find the solutions for Mumbai Development to make a global financial centre and is inspired by Prime Minister Narendra Modi’s plan to promote cooperation among BRICS Nations.

iii. The BRICS Friendship Conclave is a joint initiative of Ministry of External Affairs and Maharashtra Government to be held between April 14 and 16 this year.

iv. Top level dignitaries from the BRICS Nations and also from Indian Ministers and Chief Minister of the State will attend the Conclave to be inaugurated by the Prime Minister Narendra Modi.

Iran Successfully Test-Fired Several Ballistic Missiles

i. Iran’s Islamic Revolutionary Guards Corps (IRGC) has successfully test-fired several ballistic missiles from silos across the country.

ii. These tests were conducted by IRGC to demonstrate the country’s deterrent power and its ability to confront any threat against the state and the sovereignty of the country.

iii. With this Iran has breached United Nations Security Council (UNSC) resolutions that compel it to refrain from any work on ballistic missiles for 8 years.

iv. After two Iranian missile tests last October, the U.S. announced new sanctions in January against Iranians and companies for helping Iran’s ballistic missile program.

Karnataka Launches Mukhyamantri Santwana Harish Yojana

i. Government Karnataka has launched Mukhyamantri Santwana Harish Yojana to provide free medical treatment to road accident victims for the first 48 hours (2 days) in the nearest government or private hospital.

ii. The scheme has been named after Harish Nanjappa who had donated his eyes moments before his death. He had died as no help was provided to him after he was  severely injured in mishap in February 2016 .

iii. State govenment hospitals would be directed not to reject accident victims and they shall be provided proper medical care for first 48 hours and get treatment at any hospital.

NTPC Bags Poll Based Investor Communication Award

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

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

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

Sun Pharma Signs MS Dhoni As Brand Ambassador For Revital H

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

ii. This move is in the company’s Pipeline to reposition the brand after 25 years since its launch on the planks of active lifestyle.

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

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

Reliance Jio To Offer free Wi-Fi at 6 stadiums For T20 World Cup

i. Mukesh Dhirubhai Ambani is an Indian business magnate lead Reliance Jio Infocomm Limited has announced to offer free Wi-Fi services across 6 stadiums in the country ahead of the T-20 World cup.

ii. Spectators of cricket matches in Feroz Shah Kotla in Delhi, Eden Gardens in Kolkata, Wankhede Stadium in Mumbai, Chinnaswamy Stadium in Bengaluru, IS Bindra Stadium in Mohali and HPCA stadium in Dharamshala will enjoy free Wi-Fi during T-20 world cup

iii. The network is supported by 100 Gbps backhaul to ensure 15 Mbps speed for about 40,000 spectators during the matches. It is to be noted that Jio free internet is already provided in certain airports and tourist spots JioNet was made operational at Wankhede stadium during the India-South Africa one-day series in April 2015

Telangana, Maharashtra CMs ink pact on Godavari water projects

i. Telangana and Maharashtra governments will be signing Memoranda of Understanding to construct five barrages across Godavari and Pen Ganga rivers.

ii. MoUs will be held in Mumbai this morning in which Telangana Chief Minister K Chandrasekhara Rao and Maharashtra Chief Minister Devendra Fadnavis will take part.

iii. These two states have already expressed mutual consent to construct barrages at various points on these rivers to benefit farmers in both states, Of the five barrages, Maharashtra Government will take up construction of Rajapet and Penpahad barrages while Telangana will take up Chanak-Korata across Penganga River.

Germany Partners with India to Develop Kochi, Coimbatore, Bhubaneswar As Smart Cities

i. Germany will partner India in turning Bhubaneswar, Coimbatore and Kochi into smart cities, according to German ambassador to India Martin Ney Germany is an ideal partner in India's mission to create smarter cities as the country is "very strong at smart planning for urban centres.

ii. Germany developed the technologies to make life in cities easier.

iii. They developed the processes to bring on board the stakeholders to make cities thrive and German companies have developed smart solutions to make smart cities.

108-feet Jain Teerthankar idol enters "Guinness book of records"

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

ii. The idol was consecrated last month during a grand ceremony where rituals were performed for several days.

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

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

FM Arun Jaitley Rolls Back Proposal To Tax EPF

i. Union Finance Minister Arun Jaitley  announced the withdrawal of the budget proposal on taxing Employees Provident Fund, following a backlash in and outside Parliament. He announced to withdraw the proposal while clarifying NDA government’s stand on the issue in the Lok Sabha.

ii. He further stated that government would also like to comprehensively review EPF tax proposal.

iii. However, government retained the tax proposal for National Pension Scheme (NPS) withdrawals. At present, the entire EPF amount is tax free at the time of withdrawal if the employee has completed five years of continuous service.

iv. Earlier in the Union Budget 2016-17, Union Finance Minister Arun Jaitley had proposed to tax EPF and NPS withdrawals with an effect from 1 April 2016. It was announced that 60 percent of the amount deposited in EPF account of the employee would be taxed at the time of withdrawal and remaining 40 percent would be tax free.

India’s leading Integrated Travel Thomas Cook Signs Strategic Alliance With Western Union Business Solutions And DCB Bank

i. Thomas Cook (India) Ltd., India’s leading integrated travel and travel related financial services company, has announced a strategic collaboration with Western Union Business Solutions, a business segment of The Western Union Company, and DCB Bank Limited (formerly Development Credit Bank Ltd.).

ii. Its aims to assist Small and Medium-sized Enterprises (SMEs) in India with their trade payments across borders.

iii. As per the Mr. Mahesh Iyer, Chief Operating Officer, Thomas Cook (India) Ltd.

iv. “This alliance is a pioneering move by Thomas Cook India, to penetrate the high growth Indian SME segment for its international trade payment requirements.

Freecharge partners with Mexico-based movie theatre chain Cinepolis

i. Digital payments platform FreeCharge has partnered with Mexico-based chain of movie theatres, Cinepolis, that aims to provide its customers an easy to use and secure way of making payments.

ii. Cinepolis claims to be world’s fourth largest chain of movie theatre. FreeCharge is the first digital wallet partner for Cinepolis. This partnership will start in the second 2nd of March.

iii. Customers can pay for movie tickets and food and beverages across 38 Cinepolis theatres in 28 Cities. Movie goers will be able to pay using their registered mobile numbers with FreeCharge at the existing card machine’s available at the payment counter.

iv. The transactions will get completed in a secure manner within 10 seconds using the dynamic ‘”On-The-Go-Pin”.

v. Mr. Govind Rajan, Chief Operating Officer, FreeCharge said, "India is one of the fastest growing markets for movie digital payments. Partnership with Cinepolis is a huge opportunity to build the habit of digital payments.

President Pranab Mukherjee presented 2015 Nari Shakti awards

i. President Pranab Mukherjee on 8 March 2016 presented Nari Shakti Puraskar for the year 2015 to 15 women, 5 organisations, one state and panchayat. The awards were conferred on the occasion of International Women's Day at Rashtrapati Bhawan.

ii. The awards are annually given by the Union Ministry of Women & Child Development to institutions and individuals who have made exceptional contribution towards empowerment of women specially belonging to vulnerable and marginalised sections of society. It carries cash award of two lakh rupees and a certificate for institutions and one lakh rupees and a certificate for individuals.

iii. Haryana was awarded as a state for demonstrating improvement with work in improving Child Sex Ratio (CSR) and Sex Ratio at Birth (SRB) during 2015. Anganwadipuram Gram Panchayat, Mallapuram of Kerala was awarded for their work towards women empowerment.

iv. Through its activities the panchayat helped women to hold leadership roles and promoted women in decision making.

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