NATIONAL:
Union Government launched Inclusiveness and Accessibility Index for Persons with Disabilities:
· The Department of Empowerment of Persons with Disabilities (DEPwD) of the Ministry Social Justice and Empowerment launched the Inclusiveness and Accessibility Index.
· The index seeks to help the industries and corporates to participate in theAccessible India Campaign (AIC) by voluntarily evaluating their readiness for making the workplace accessible for Persons with Disabilities.
Union Government launched Startup India Portal and Mobile App:
· The Department of Industrial Policy and Promotion (DIPP) under Union Ministry of Commerce and Industry launched the Startup India portalhttp://startupindia.gov.in and mobile app in New Delhi.
Kachhabali Becomes 1st Liquor-free village in Rajasthan:
· Kachabali village in Rajsamand district of Rajasthan, has become the first in state to vote in support of closing down the only liquor shop in the village.
· This is the first time the provision of the Rajasthan Excise Act, 1975, that provides for the closure of a country liquor shop, was invoked.
· The polling was carried out by the excise department of the state and 94% of the voters demanded that they want a complete ban on the sale of alcohol in the village.
Mumbai to get its first Arbitration Centre:
· The financial capital of India is likely to get the International Arbitration Centre. This will be the India’s first arbitration centre for dealing the financial disputes.
· The financial disputes of India were dealt in the Singapore Arbitration centre, now with the establishment of the International arbitration centre in Mumbai it will be a boon to the Indian companies.
· Out of the 259 cases registered at Singapore arbitration centre in 2013, 85 were from Indian companies.
Government Unveils new building bye laws in New Delhi:
· The Union government has been constantly taking efforts in reducing the paperwork and it motivates the single window system that makes the obtaining of approvals easier and faster.
· One such effort is the unified building bye laws proposed by the central government in Delhi.
· The unified building laws combines the rules and regulations of various departments in obtaining permission for constructing a building.
· The bye laws have been amended after a gap of33 years and it enables the single window approval.
· The permissions to be obtained has been reduced to 14 from 40
Madhya Pradesh to create Department of Happiness:
· Madhya Pradesh CM Shivraj Singh Chouhan has announced plans to set up a 'Department of Happiness' to infuse "positivity" into the lives of people.
· He said the department will organise yoga, cultural and meditation programmes.
· "I got this inspiration from Bhutan which gave the world the concept of Happiness Index way back in 1970s," he added.
BHEL commissions 250 Mw unit at Nabinagar plant in Bihar:
· Bharat Heavy Electricals Limited has commissioned 250 MW coal-based thermal power plant in Bihar.
· The 250 MW unit has been commissioned at the upcoming, Greenfield 1,000 MW Nabinagar Thermal Power Project of 1000 MW being set up by Bhartiya Rail Bijlee Company Limited (BRBCL), a joint venture of NTPC Limited and the Indian Railways.
· This is the first 250 MW unit to be commissioned in the plant located at Nabinagar in Aurangabad district of Bihar.
Telangana Road Transport Authority’s Mobile App M-Wallet launched:
· Telangana State Transport Authority’s launched brand-new mobile app named M-Wallet, whichis first of its kind in India.
· The initiative is going to benefit 60 lakh driving licence holders, 80 lakh vehicle The App was launched by IT minister KT Rama Rao and transport minister P.Mahender Reddy.
· It will help motorists to avoid physically carrying documents like driving licence, registration certification and other vehicle related documents, since digital certificates can be uploaded through the App.
India becomes fourth largest spender on defence:
· India has become the world’s fourth largest spender on defence, following a 13.1% increase in its 2016-17 defence budget, according to US research firm IHS Inc.
· India’s rise in the rankings from sixth position last year is a result of an increase in expenditure to $50.7 billion, combined with cuts to military spending by Russia and Saudi Arabia, where low oil prices have put considerable strain on their finances.
India's fastest train to hit tracks on April 5:
· India's fastest train, the Gatimaan Express, is scheduled to hit the tracks on April 5.
· The train will run between Delhi and Agra at a maximum speed of 160 km/h.
· As earlier planned to run from New Delhi and reach Agra in around 90 minutes, the train will now begin from Hazrat Nizamuddin and reach Agra in 100 minutes.
Delhi roads to be vacuum cleaned from today:
· Delhi CM Arvind Kejriwal said that the 1,260 km of roads maintained by the Public Works Department (PWD) will be vacuum cleaned from today as he launched the 'Greening Delhi' initiative on Thursday.
· In addition, around 120 acres of roadside areas will get pollution-absorbing plants and trees under the initiative, aimed at curbing air pollution in the national capital.
Maharashtra first state to join national cancer grid:
· Maharashtra tied up with the Tata Trusts to link all government colleges and medical colleges with the latter's national cancer grid.
· Maharashtra is the country's first state to join the initiative. The national cancer grid links all existing and proposed cancer care centres to create a uniform line of treatment for cancer patients across India.
Haryana fixes qualification for urban body polls:
· Haryana Assembly passed two Bills mandating minimum educational qualification for contesting urban local bodies polls in the state.
· The minimum educational qualification for a general male candidate will be Class X, while that for women and those belonging to SC category would be Class VIII.
· Notably, Haryana had earlier fixed similar qualification for gram panchayat elections as well.
Free helmets for two-wheeler riders in Kerala:
· According to a new directive by Kerala's Transport and Road Safety Commissioner, Tomin J Thachankary, people who purchase two-wheelers will get complimentary ISI-approved helmets with their vehicles from April 1.
· The buyers will also receive accessories such as front and rear number plates, rear-view mirror, sari guard, crash guard, and handle grip for pillion riders free of cost.
2 Andhra Pradesh villages to run on solar power:
· Toorputallu and Pedhamyanavanilanka, two villages in Andhra Pradesh, willrun completely on solar power from this year.
· These will be the first two villages in the country to be run 100% on solar power, union minister Nirmala Sitharaman who adopted the villages under Sansad Aadarsh Gram Yojna said.
· The villages will be electrified with a 2 MW solar power plan.
INTERNATIONAL:
Ebola threat comes to an end in West Africa:
· Ebola– the viral disease that had been haunting the African Nations and their neighbours for more than a year has been declared no longer a medical emergency.
· WHO has declared the Ebola outbreak to be no longer a global threat as the disease is under control and necessary measures are available to treat the epidemic.
· With this announcement, the viral disease which was threatening the world nations for 20 months killing more than 11,300 people is finally under control
· They also proposed to lift the trade and travel restrictions imposed in the ebola affected Liberia, Sierra leone and Guinea.
France operation ‘Sangaris’ comes to an end in CAR:
· France will end its three year long military operation ‘Sangaris’ in Central African Republic which came into force in 2013 following a communal violence.
· The France government proposed to withdraw its troops citing the formation of the new government under Faustin-Archange Touadera and restoration of peace.
· The communal violence broke out in CAR when Muslim rebels ousted the Christian president Francois from power and following this French troops started the operation ‘Sangaris’ in 2013.
· Totally 2500 troops were deployed in the security operation assisting the UN peacekeeping force.
ICCR to set up first Indian Chair in Arab world at Cairo:
· India will institute its first Chair in the Arab world at Egypt’s third largest university AinShams University (ASU) in Cairo.
· India’s Ambassador to Egypt Sanjay Bhattacharyya and Prof AbdelWahabEzzat, acting president signed a memorandum of understanding (MoU) for the project.
· The MoU represents a historic moment in academic exchanges between the two civilizational partners as the ICCR Chair will be the first, not only in Egypt but in the Arab world.
S&P downgrades China rating outlook to negative:
· Financial services firm Standard & Poor's has downgraded the outlook for China's credit rating to negative from stable, saying the country's economic and financial risks to the government’s creditworthiness are gradually increasing.
· The nation’s credit rating is AA- with a negative outlook. Further, China’s GDP growth will remain at or above 6% in the next three years, it forecasted.
Saudi Arabia, US impose joint sanctions against LeT:
· Saudi Arabia and the United States have imposed joint sanctions targeting the Pakistan-based militant group Lashkar-e-Taiba.
· The announcement marks the second time that the United States and Saudi officials have coordinated their actions to disrupt the finances of Islamist militant groups in Southeast Asia.
Myanmar Upper House passes Bill giving more powers to Aung San Suu Kyi:
· The Upper House of Myanmar's parliament approved a Bill today to give Aung San Suu Kyi a more powerful role over the country's parliament and government, despite strong opposition from the military and former ruling party USDP.
· The advisory role would allow Aung San Suu Kyi, who holds four portfolios in the new administration, to work with political parties and organisations, which the USDP opposes.
· It was the first piece of legislation tabled to the parliament on the first day in office for the democratically elected government.
BANKING :
SEBI raises FPI investment limit:
· The market regulator SEBI has raised the FPI (Foreign Portfolio Investors) investment limit in government securities to 1,40,000 crore from April,4. This will help in attracting more foreign inflow into the nation.
· SEBI has proposed the hike in two tranches one in April and the other in July
· Besides the FPI limit in central government securities, it also allows increase in State Development Loans
Japan commits 14k cr loans to India for infra:
· Japan committed loans worth about ₹14,269 crore (242.2 billion yen) for five infrastructure development projects in India.
· The projects include the Dedicated Freight Corridor Project, Odisha Integrated Sanitation Improvement Project and Transmission System.
· Strengthening Project in Madhya Pradesh. In the 2015-16 financial year, Japan has committed around 22,976 crore (390 billion yen).
India looking to loan $500 mn from Asian Bank:
· According to officials, India hopes to receive one of the first loans issued by the Asian Infrastructure Investment Bank (AIIB) later this year.
· India is looking at raising $500 million for solar power projects. “In about six months, funds could start flowing from AIIB,” Tarun Kapur, Joint Secretary, Ministry of New and Renewable Energy, said.
BUSINESS AND ECONOMY:
Adani Aero Defence ties up with Elbit, Alpha for unmanned aircraft systems:
· A subsidiary of Adanigroup Alpha Design Technologies Pvt Ltdhas tied up with the Israeli company Elbit Systems for Unmanned Aircraft Systems.
· The Pact reflects the realisation of Make in India for global requirements objective. The Company plans to create a tiered vendor base for supporting, indigenisation and localisation requirements.
· The Adani Group is worth over $10 billion. Aadanikept this pact for unmanned aircraft system(UAS), and is an aircraft without a human pilot aboard.
Star India to launch Hotstar service overseas:
· Star India plans to launch its over-the-top platform Hotstar in other countries over the next few months.
· Hotstar is a digital and mobile entertainment platform owned by Novi Digital Entertainment Private Limited (formerly known as Indya Interactive Services Private Limited).
· It is a wholly owned subsidiary of STAR India.
· The numerous and affluent South Asian diaspora, which for the longest time had been frustrated by the lack of access to its favourite content, will be able to watch cricket, movies and other shows through Hotstar.
Dr Reddy's, Japan firm sign anticancer drug pact:
· Dr Reddy's Laboratories has entered into a licensing pact with Japan's Eisai Co. Ltd for “exclusive worldwide development and commercialisation rights(excluding Japan and Asia)” for the latter's investigational anticancer agent E7777.
· In exchange, Eisai will receive milestone payments in line with obtaining marketing approval and the achievement of agreed upon sales targets, Dr Reddy's said.
Ola launches free in-cab 'Auto-Connect Wi-Fi':
· Indian ride-hailing startup Ola launched 'Auto Connect WiFi' feature that allowscab riders to auto connect to Wi-Fi in an Ola cab without needing to enter credentials.
· A one-time authentication would be needed for the first-time users. The feature is currently available for free in three cities for Ola Prime and will soon be available across all categories.
Amazon commenced work on its biggest campus in Hyderabad:
· Amazon, the global e-commerce and cloud services firm, commenced work on its biggest campus at Hyderabad in India. It is the largest campus outside the United States (US) for Amazon.
· The campus spread over 10 acres of land in Gachibowli is part of 2 billion dollar investment announced by the company in India.
· Telangana IT and Panchayat Raj Minister KT Rama Rao laid the foundation stone for this India’s biggest Campus.
· This is Amazon's second significant investment in Telangana in one year. In June 2015, it had inaugurated one of its biggest fulfillment centres in Hyderabad.
UltraTech acquires cement wing of JP Associates:
· Aditya Birla Group-owned UltraTech Cement signed a revised deal with infrastructure conglomerate JP Associates to acquire its cement business for 15,900 crore.
· The two firms had earlier signed an accord in February under which UltraTech was to buy JP's cement capacity for 16,500 crore. Notably, this is the biggest consolidation in the Indian cement sector.
Core sector growth at 5.7% in February:
· Eight core sector industries grew at a year's high of 5.7 per cent in February.
· It is almost double the rate of 2.9 per cent a month ago. These industries had expanded 2.3 per cent in February last year.
· The growth is driven by cement and fertilisers. Cement production last month was up 13.5 per cent from a year earlier. Fertiliser output grew an annual 16.3 per cent. Steel showed a fall in output in February.
SCIENCE AND TECHNOLOGY:
Scientists reveal Zika structure for first time:
· Researchers from Purdue University announced a major breakthrough, becoming the first team to determine the structure of the Zika virus.
· The groundbreaking discovery reveals insights that are critical to finding an effective antiviral treatment or vaccine for the virus.
· The team, which published a paper on their findings in the journal Science, also identified regions within the Zika virus that set it apart from other insect-borne viruses such as dengue, West Nile, and yellow fever.
MIT creates technology for password-free Wi-Fi:
· MIT researchers have developed a system called Chronos that enables Wi-Fi access points to locate users without external sensors.
· The system can help in developing password-free Wi-Fi technology. A user's location is determined by calculating the time taken by the data to travel from user to the access point.
· The system was found to determine users' location with 97% accuracy.
Seagate unveils USB-powered 8 TB external HD:
· American data storage company Seagate has unveiled a USB-powered 8 TB external hard drive called Innov8, which it claims is the first such drive of this size that does not require a dedicated power source.
· Seagate Innov8, which will be available starting April for $349, includes 200 GB of Microsoft OneDrive cloud storage enabling accessibility to files from any device.
New method that can assess chemotherapy in 8 hrs:
· US-based Indian-origin researchers have developed a technique that can assess cancer treatments' effectiveness in eight hours and can detect if the tumours are shrinking.
· When cancer cells die, 'caspase' enzyme is activated. The researchers mixed a chemical to the cancer drugs which glows in the presence of the enzyme, thereby helping in assessing the treatment's progress in short time.
SPORTS:
Wheelchair Motocross WC to begin from April 23:
· The 2016 Wheelchair Motocross World Championship is set to begin from the April 23 and will feature Aaron ‘Wheelz’ Fotheringham, who is widely regarded as one of the most influential disabled athletes.
· Notably, Fotheringham, who was born with 'spina bifida', a type of spinal cord birth defect, was the creator of the wheelchair motocross sport.
Kohli registers most half-centuries in T20Is:
· Indian cricketer Virat Kohli, after posting 89*(47) while playing against West Indies in the World T20 semi-final, scored his 16th T20I half-century, thereby registering most number of half-centuries in T20Is.
· Notably, Kohli surpassed the tally of 15 half-centuries held by former New Zealand captain Brendon McCullum and West Indies batsman Chris Gayle.
OBITUARY:
Renowned Iraqi-British Architect Zaha Hadid died:
· Zaha Hadid, the first woman to receive the Royal Institute of British Architects (RIBA) gold medal, died on 31 March 2016 due to heart attack in Miami. The Iraqi-born British architect died at the age of 65.
· In 2004, Hadid became the first woman and first Muslim recipient to win the Pritzker Prize, known as the Nobel for architecture.
British comedian Ronnie Corbett passed away:
· British entertainer Ronnie Corbett, best known for BBC comedy sketch show The Two Ronnies, died. He was 85.
· Corbett's BBC television comedy show with Ronnie Barker, The Two Ronnies, ran from 1971 to 1987. Barker and Corbett performed sketches and musical numbers. Corbett presented a monologue.
· The entertainer was awarded with a Commander of the Order of the British Empire (CBE) in the 2012 New Year Honours for services to entertainment and charity
1. Delhi Chief Minister Arvind Kejriwal launched Phase I of Green Delhi initiative
1. Delhi Chief Minister Arvind Kejriwal launched the Phase I of Green Delhi initiative by planting trees at the Triangular Park at the ITO Chowk.
2. The launch of the initiative is in tune with the Detailed Action Plan (DAP) that was submitted by the Delhi Government to the Supreme Court in December 2015.
3. The DAP deals with the steps being taken to improve air quality and reduce air pollution in the National Capital.
Features of Green Delhi initiative
• Vaccum cleaning of all Public Works Department (PWD) roads will be started at regular intervals starting from 1 April 2016.
• To avoid dust rising from unpaved footpaths and central verges, the central verges of the 1260 kilometres of road maintained by the PWD will be bedded with grass and greenery. This initiative will include kutcha portion under flyovers.
2. India, US ink MoU for setting up LIGO observatory in India
1. India has signed a memorandum of Understanding (MoU) with the United States for setting up Laser Interferometer Gravitational-wave Observatory (LIGO) in India. LIGO is a large-scale physics experiment and observatory to detect gravitational waves. The MoU was signed in the presence of Prime Minister Narendra Modi on the sidelines of the Nuclear Security Summit in Washington.
2. The agreement was signed between the US’s National Science Foundation (NSF) and India’s Department of Atomic Energy (DAE) and Department of Science and Technology (DST). As part of the agreement, the scientists of DAE, DST and NSF will form a Joint Oversight Group (JOG) for better coordination of the project.
3. 4th Nuclear Security Summit begins in Washington
1. The fourth edition of Nuclear Security Summit (NSS) began in Washington, United States to discuss a gamut of issues pertaining to nuclear security.
2. In this edition of summit, heads of about 53 countries and representatives of five international organisations including the UNO, International Atomic Energy Agency (IAEA), European Union (EU), Interpol are taking part. India is being represented by Prime Minister Narendra Modi in the two-day summit. The fourth summit is the last summit under the current format and also under the presidency of Barack Obama.
4. Vietnam’s Parliament elects Nguyen Thi Kim Ngan as first female speaker
1. Vietnam’s National Assembly (NA) has elected Nguyen Thi Kim Ngan as the country`s first female house speaker She was sworn in as speaker after getting elected for the post with 472 (95.5%) yes votes in her favour out of 481 valid ballots at the ongoing 11th session of the 13th NA.
2. She was also elected as the Chairperson of the National Election Council of the Vietnam with 467 yes votes in her favour out of 477 valid ballots
5. Union Government launches Startup India portal and mobile app
1. The Union Government has launched the Startup India portal (http://startupindia.gov.in) and mobile application. It was launched by the Department of Industrial Policy & Promotion (DIPP) Ramesh Abhishek in New Delhi as an integral component of the Action Plan of the Startup India.
2. The portal and mobile app provide up-to- date information issued by various Government ministries/ departments. They will also provide information regarding incubators and funding agencies recognized for the purpose of recommending Startups.
6. Renowned Iraqi-British Architect Zaha Hadid passes away
1. Renowned Iraqi-born British architect Zaha Hadid passed away due to heart attack. She was 65. She was world’s most famous female architect and was known for her neofuturistic design which was her signature architectural style. She was the first female winner of the top Pritzker Architecture Prize (2004), also known as the Nobel for architecture.
7. Kachhabali becomes first liquor-free village in Rajasthan
1. Kachhabali village in Bhim tehsil of Rajsamand district has become the first in Rajasthan to liquor-free village. The village achieved this feat after villagers voted to close down its lone liquor shop to stop alcohol sale in village in the referendum by 67.11%. 2. The referendum was conducted by the excise department of the state. It is for the first time the provision of the Rajasthan Excise Act, 1975, that provides for the closure of a country liquor shop, was invoked.
8. HPCL appoints M K Surana as CMD
1. K Surana has taken over as Chairman and Managing Director, Hindustan Petroleum Corporation after Nishi Vasudeva, former CMD, retired.
2. A mechanical engineer with a master’s degree in financial management, Surana was CEO, Prize Petroleum Company Ltd, a wholly owned subsidiary and upstream arm of HPCL since September 2012, before being appointed by the government to top job at HPCL.
1. India becomes fourth largest spender on defence
i. India has become the world’s fourth largest spender on defence, following a 13.1% increase in its 2016-17 defence budget, according to US research firm IHS Inc.
ii. India’s rise in the rankings from sixth position last year is a result of an increase in expenditure to $50.7 billion, combined with cuts to military spending by Russia and Saudi Arabia, where low oil prices have put considerable strain on their finances.
iii. According to IHS analysis, short-term pressures, caused by increases to military pay and the introduction of one rank, one pension (OROP) are the main reasons for the higher rate of growth in budget allocation to defence.
iv. As a result, spending on the acquisition of military equipment remained largely static in real terms and remains lower than its 2013-14 peak, despite an increase in the overall budget.
v. The Indian defence budget is expected to reach $64.8 billion by 2020 with procurement expenditure expected to grow faster than overall spending, according to IHS.
2. Japan to lend Rs.14,000 crore for Indian projects
i. The Government of Japan has committed a loan of JPY 242.2 billion (around Rs.14,251 crore) for various projects across India, including Jharkhand, Odisha, Madhya Pradesh and the North East.
ii. The Official Development Assistance is to be deployed for a transmission system strengthening project in Madhya Pradesh, an integrated sanitation improvement project in Odisha, a dedicated freight corridor project, a road network connectivity improvement project in the North East, and a micro drip irrigation project in Jharkhand, according to a government release on Thursday.
iii. The Government of Japan has committed a total of JPY 390 billion in the current financial year which is the highest amount committed in a year.
iv. India and Japan have had mutually beneficial economic development cooperation since 1958.
v. In the last few years, economic cooperation between India and Japan has strengthened and grown into a strategic partnership.
3. Vietnam's parliament elects first female speaker
i. Vietnam’s National Assembly (NA) elected Nguyen Thi Kim Ngan as the country’s first female house speaker.
ii. Ngan has been elected and sworn in as the NA Chairperson with 472 votes out of 481 valid ballots at the ongoing 11th session of the 13th NA .
iii. She was also elected as the Chairperson of the National Election Council with 467 votes out of 477 valid ballots.
iv. Prior to the election, Ngan served as Vice Chairperson of the Natonal Assembly from July 2011.
4. 4th Nuclear Security Summit begins in Washington
i. The fourth edition of Nuclear Security Summit (NSS) began in Washington, United States to discuss a gamut of issues pertaining to nuclear security.
ii. In this edition of summit, heads of about 53 countries and representatives of five international organisations including the UNO, International Atomic Energy Agency (IAEA), European Union (EU), Interpol are taking part.
iii. India is being represented by Prime Minister Narendra Modi in the two-day summit. The fourth summit is the last summit under the current format and also under the presidency of Barack Obama.
iv. The summit will highlight achievements and commitments of several countries towards safeguarding nuclear devices and technologies and reducing the threat of nuclear terrorism.
v. This edition of summit is expected to take stock of the measures being taken by all countries to safeguard nuclear materials and facilities and also prevent non-state actors gaining access to them.
5. ICCR to set up first Indian Chair in Arab world at Cairo
i. An MoU in this regard was signed between India’s Ambassador toEgypt Sanjay Bhattacharyya on behalf of Indian Council for Cultural Relations (ICCR) and and Prof. Abdel Wahab Ezzat, Acting President of ASU.
ii. The Indian Council for Cultural Relations (ICCR) was founded in 1950 by Maulana Abul Kalam Azad, independent India’s first Education Minister.
iii. Its objectives are to actively participate in the formulation and implementation of policies and programmes pertaining to India’s external cultural relations.
iv. It is to foster and strengthen cultural relations and mutual understanding between India and other countries; to promote cultural exchanges with other countries and people; and to develop relations with nations.
6. Union Government launches Startup India portal and mobile app
i. The Union Government has launched the Startup India portal (http://startupindia.gov.in) and mobile application.
ii. It was launched by the Department of Industrial Policy & Promotion (DIPP) Ramesh Abhishek in New Delhi as an integral component of the Action Plan of the Startup India.
iii. The portal and mobile app provide up-to- date information issued by various Government ministries/ departments.
iv. They will also provide information regarding incubators and funding agencies recognized for the purpose of recommending Startups. v. Startup India Hub was established within Invest India, will be a single point of contact for the entire Startup ecosystem. It would enable exchange of knowledge and will work in a hub and spoke model with Governments, Angel Funds, VCs, Incubators, Mentors, etc.
7. Russia approved OVL deal to acquire 15% stake in Vankor oilfield for $1.3 billion
i. Russia has approved a deal of ONGC Videsh Ltd (OVL) to acquire 15% stake in Vankor oilfield from Rosneft, The deal size of 1.3 billion US dollars’was signed between the OVL and Rosneft in September 2015.
ii. The new deal enables OVL’s stake in Vankor will raise to 26% from 15% and will give it about 3.5 million metric tonnes of oil a year Consequently.
iii. Rosneft will retain the remaining 50.1 per cent and also retain full control of infrastructure of the Vankor cluster.
iv. ONGC Vankor is Russia’s second biggest oil field with capacity of total 500 million tonnes recoverable reserves barrels.
v. It currently has 14 projects across 16 countries. ONGC is India’s largest oil and gas exploration and production company.
8. UltraTech buys Jaypee cement units for Rs 15,900 cr
i. UltraTech Cement, a part of the Aditya Birla group, agreed to buy Jaiprakash Associates' 21.2 million tonnes per annum (mtpa) cement capacity for Rs 15,900 crore on Thursday.
ii. While the deal will take UltraTech's cement capacity to over 91 mtpa from the present 68 mtpa, it will help Jaypee group reduce its debt.
iii. As against the earlier estimate of Rs 16,500 crore, the deal size reduced by about 3.5 per cent or Rs 600 crore, as the transaction excludes the 1.2-million tonne plant in Karnataka.
iv. The transaction will help debt-heavy Jaiprakash Associates to reduce its debt, which touched an alarmingly high of Rs 60,000 crore.
v. The lenders, led by ICICI Bank, had asked the company to sell assets so that it could repay its loans.
9. Flipkart acquires mobile payments firm PhonePe
i. India’s largest e-commerce company Flipkart has acquired PhonePe, a Bengaluru-based mobile payments company, which was co-founded by ex-Flipkart employees Sameer Nigam and Rahul Chari.
ii. The financial details of the acquisition were not divulged.
iii. PhonePe is building India’s a Unified Payments Interface (UPI) based product, which is, planned to go live in April.
iv. The interface will allow users to transact using their unique identification and mobile phone number or virtual payments address without sharing any other bank details.
v. The PhonePe team will transition to Flipkart but will function as an independent business unit, the company said in a statement.
10. Ficci, AIBC sign MoU to strengthen business ties
i. In a bid further strengthen and promote business ties with Australia, FICCI on Friday announced inking an MoU with Australia India Business Council (AIBC).
ii. The agreement was signed in the presence of the visiting Finance Minister Arun Jaitley during the 'Invest in India Round Table Conference' here.
iii. According to National Chairman of AIBC Dipen Rughani: "The signing of the MoU is a great milestone in the bilateral relations between the two organisations and will certainly have a positive impact and add tremendous value to the business relations between the two countries."
iv. The agreement reinvigorates the ongoing relationship between the two organisations to further promote, facilitate and grow the trade and investment relationship between Australia and India.
v. The MoU also solidifies the partnership for the upcoming "Engaging with India" conference being held on 16 and 17 May, for which AFR is also a partner, AIBC said.
11. Telangana government launches M Wallet mobile App
i. State Road Transport Authority’s brand-new mobile app, M-Wallet, was launched by IT minister KT Rama Rao and transport minister P.Mahender Reddy.
ii. Telangana State Transport Authority’s launched brand-new mobile app named M-Wallet, which is first of its kind in India.
iii. The initiative is going to benefit 60 lakh driving licence holders, 80 lakh vehicle The App was launched by IT minister KT Rama Rao and transport minister P.Mahender Reddy.
iv. It will help motorists to avoid physically carrying documents like driving licence, registration certification and other vehicle related documents, since digital certificates can be uploaded through the App.
12. Haryana fixes edu qualification for Urban Bodies' polls
i. Haryana Assembly passed two Bills mandating minimum educational qualification for contesting urban local bodies polls in the state.
ii. The minimum educational qualification for a general male candidate will be Class X, while that for women and those belonging to SC category would be Class VIII.
iii. Haryana had earlier fixed similar qualification for gram panchayat elections as well.
iv. Under the new rules of Lokpal Act, all central government employees have been asked to declare details of assets and liabilities including those of their spouses and children by April 15.
v. The employees also have to furnish details of deposits made in foreign banks. According to a new directive by Kerala's Transport and Road Safety Commissioner.
13. Mumbai to get international arbitration centre by August
i. Mumbai Financial capital of India is likely to get the International Arbitration Centre.
ii. This will be the India’s first arbitration centre for dealing the financial disputes.
iii. The financial disputes of India were dealt in the Singapore Arbitration centre, now with the establishment of the International arbitration centre in Mumbai.
iv. It will be a boon to the Indian companies Out of the 259 cases registered at Singapore arbitration centre in 2013, 85 were from Indian companie Most of the arbitration cases from India are over dispute between private equity firms and investee companies, and in some instances, the dispute is between family members.
14. Rajiv Gauba takes over as Secretary of Urban Development Ministry
i. Rajiv Gauba took over as Secretary to the Government of India in the Ministry of Urban Development.
ii. Gauba has wide-ranging experience in senior positions at policy making and programme implementation in the Central and State iii. Governments and in international organisations. Hailing from Punjab, the 1959 born Gauba is a physics graduate from Patna University.
iv. He was Chief Secretary, Jharkhand for 15 months before joining the central government today.
v. Gauba also served in the International Monetary Fund representing the Country for four years on the Board of IMF. He was Collector and District Magistrate for 7 years in the districts of Gaya, Nalanda and Muzaffarpur.
15. Renowned Iraqi-British Architect Zaha Hadid passes away
i. Renowned Iraqi-born British architect Zaha Hadid passed away due to heart attack. She was 65.
ii. She was world’s most famous female architect and was known for her neofuturistic design which was her signature architectural style.
iii. She was the first female winner of the top Pritzker Architecture Prize (2004), also known as the Nobel for architecture.
iv. Zaha Hadid Born on 31st October 1950 in Baghdad, Iraq. Hadid first had studied mathematics at the American University in Lebanon and later pursued architecture at the Architectural Association in London in 1972. She had designed the London Aquatics Centre, which was used during the 2012 London Olympics.
v. She has won many awards like- Pritzker Prize (2004), Royal Gold Medal in architecture (2016) by the Royal Institute of British Architects. Twice won the RIBA Stirling Prize, Britain’s most prestigious architecture award in 2010 and 2011. Queen Elizabeth II had honoured her with a damehood (knighthood) in 2012.
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