Current Affairs March 8 2020

We are here for you to provide the important Recent and Latest Current Affairs 8 March 2020, which have unique updates of Latest Current Affairs 2020 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Govt approves Companies (Second Amendment) Bill, 2019 with 72 changes to Companies Act 2013; 66 compoundable offences decriminalizedIn order to further promote ease of doing Business, the Union Cabinet headed by Narendra Modi has approved the Companies (Second Amendment) Bill, 2019 to amend the Companies Act, 2013 with a total of 72 changes in its 65 sections. The focuses of these changes are decriminalization of various provisions Act i.e. to lessen of criminal penalties in relation to certain sections, and to permit direct overseas listing of Indian corporates.

• 66 compoundable offences to be changed under the Companies Act: Compoundable offences are those which are less serious and can be compromised with the victim with or without the permission of court….Click here to Read More

Wealth Report 2020: India’s UHNWI population to increase by 73% in 5 years & Ranks 12^th;US tops
On March 5, 2020,According to the “Wealth Report 2020” released by  Knight Frank LLP,a leading International Property Consultant, India had 5,986 UHNWIs Ultra high-net-worth individuals (UHNWIs) in 2019 and they expected to increase by 73% in the coming 5 years.This will almost double the current count to 10,354.
India, according to Knight Frank, ranks 12th and had 5,986 such individuals in 2019, which is likely to reach 10,354 by 2024. The number of billionaires in India, on the other hand, is likely to reach 113 by 2024, up from 104 in 2019.
UHNWIs are people who are having a net worth of at least $30 million(mn) and above….Click here to Read More

10 projects of Rs 301.54 crores sanctioned for Food Processing Sector On March 5, 2020 in a meeting of The Inter-Ministerial Approval Committee (IMAC)which was held under the chairmanship of Union Food Processing Industries Minister Smt. Harsimrat Kaur Badal sanctioned 10 projects of  Rs 301.54 crore with total grant-in-aid of 67.29 crore & it is likely to generate employment for around 8000 people and benefit 32000 farmers in that region.
Key Points
i.The projects are sanctioned under the ‘Agro Processing Cluster Scheme’ of Pradhan Mantri Kisan Sampada Yojana (PMKSY) of the Ministry of Food Processing Industries (MoFPI)….Click here to Read More

DAY -NULM signed MoU with Amazon for E-Marketing of Products Made by Self Help Groups across the CountryOn March 5, 2020 Deendayal Antyodaya Yojana- National Urban Livelihoods Mission (DAY- NULM) functions under the Ministry of Housing and Urban Affairs(MoHUA) signed MoU (Memorandum of Understandings) with Amazon for electronic marketing (e-Marketing) of products made by Self Help Groups (SHGs) across the Country….Click here to Read More

INTERNATIONAL AFFAIRS

Indian female labour-force participation dropped from 34% in 2006 to 24.8% in 2020: UNGC Study
In accordance with the United Nations Global Compact (UNGC) India study, India is the only country among the 153 surveyed countries where the economic gender gap is larger than the political gap. Its female labour-force participation has declined from 34% in 2006 to 24.8% in 2020.
Key Points:
i.If women participation raised in the labour force same as men then it can boost India’s GDP (Gross Domestic Product) by 27%.
ii.Globally, 38.7% of employed women are working in agriculture, forestry and fisheries, but only 13.8% of landholders are women.
iii.To ensure effective changes, Companies need to formulate policies and procedures at par to various life changes in their employees, including maternity, changing care needs, dual career couples and continuity.
About UNGC
Establishment– 2000
Headquarters– New York, United States (US)
CEO & Executive Director– Ms. Lise Kingo

5^th BIMSTEC Summit 2020 to be held in Colombo, Sri Lanka in September
On March 4, 2020,The 5^th edition of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Summit 2020 to be held in Colombo, Sri Lanka in the month of September 2020.This was informed by BIMSTEC Secretary General (SG) Mohammad Shahidu Islam during his meeting with Sri Lankan Prime Minister (PM) Mahinda Rajapaksa.
Key Points:
i.The summit will be preceded by the 17^th Ministerial Meeting and 21^st Senior Officials Meeting by the end of 2020.
ii.During the meet, it was decided that Sri Lanka will lead the science, technology, and innovation sector India on security, Bangladesh will lead Trade and Investment, Bhutan on Environment and Climate Change, Myanmar on Agriculture and Food Security, Nepal on People-to-People Contact and Thailand on Connectivity in BIMSTEC.
iii.Sri Lanka is the Chair of BIMSTEC between 2018 and 2020 and it will hand over the chairmanship to Thailand by the end of 2020.
iv.Even though Sri Lanka had hosted 3 Working Committee meetings earlier, this summit will be the first one under the new Administration.
About Sri Lanka:
Capital– Sri Jayawardenepura Kotte.
Currency– Sri Lankan rupee (LKR)
President– Gotabaya Rajapaksa
About BIMSTEC:
Secretariat– Dhaka, Bangladesh
Members– Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, Thailand.
It is an international organisation of 7 nations of South Asia & South East Asia.

BANKING & FINANCE

Tata AIA Life Insurance to provide football coaching to under-privileged girls under its ‘Bachhpan Ka Rakshakaran’ program
On March 5, 2020, In order to create interest in education for the under-privileged girls aged 12-16 years, by using football coaching as a medium, Tata AIA Life Insurance, a joint venture company formed by Tata Sons Ltd and AIA Group Ltd(AIA), has launched a ‘Bachhpan Ka Rakshakaran’ program in association with Mumbai based Non-profit ‘Oscar Foundation’.
Key Points:
i.It also conducted a full day coaching session at Astra Turf, WIFA (Western India Football Association), Cooperage, Colaba in Mumbai,Maharashtra.
ii.This initiative will help reduce stock of issues including school dropouts, child labour, child marriage, drug abuse and vulnerability to minor crime.
iii.In view of International Women’s Day on March 8,2020, Tata AIA Life Insurance also invited AIA Hotspurs celebrity coach, Anton Blackwood to train a team of 35 under-privileged girls belonging to the Oscar Foundation.
About Tata AIA Life Insurance:
Headquarters– Mumbai,Maharashtra
MD & CEO- Rishi Srivastava

Paytm, Hyderabad Metro tie up for QR-based tickets
On March 6, 2020, Hyderabad Metro Rail Limited (HMRL) in partnership with Paytm has launched a QR-code-based metro ticketing system at Rasoolpura metro station Hyderabad.

• This system will help people book digital tickets easily and it also reduces the ticket congestion at the ticket counters.
• It also provides a hassle-free journey to the customers.
• Hyderabad Metro Rail Limited (HMRL) will introduce two more trains between Ameerpet and Raidurgam route.

About Hyderabad Metro Rail Limited:
Managing Director- NVS Reddy
About Paytm:
Founder- Vijay Shekhar Sharma
Senior vice–president- Abhay Sharma
Headquarters– Noida, Uttar Pradesh

ECONOMY & BUSINESS

Board of Approval headed by Anup Wadhawan approved TCS, DLF proposals to set up SEZs for IT in Haryana, UP
On March 06, 2020, The highest decision-making body for special economic zones (SEZs) chaired by the commerce secretary Anup Wadhawan, has approved the proposals of Information technology (IT) major TCS (Tata Consultancy Services Limited) and DLF (Delhi Land and Finance) Limited  a premier real estate company in India to establish a special economic zones (SEZs) for IT sector in Noida (Uttar Pradesh -UP) and Haryana respectively….Click here to Read More

APPOINTMENTS & RESIGNATIONS          

Mahindra-Ford venture set to name Anurag Mehrotra as Chief Executive
On 5^th March 2020 the Managing Director of Ford India, Anurag Mehrotra was appointed as the Chief Executive officer for the New joint venture formed by Mahindra and Ford with effect from April 1, 2020.This joint venture is formed to develop and sell Ford branded cars in India and other emerging markets. The joint venture created is valued at $275 million (Rs 1,925 crore).

•  Mahindra will own the controlling stakes of 51 per cent, while Ford will own 49 percent stakes in the new company.

Other appointments:-

• Pankaj Sonalkar will be the chief operating officer of the Joint Venture
• Sachin Arolkar will take charge of the finances and
• Abhimanyu Sen will take charge of Human Resources.

  SCIENCE & TECHNOLOGY

Chandrayaan-3 will be launched in the first half of 2021: Jitendra Singh 
On March 04, 2020, According to the Minister of State in the Prime Minister’s Office, Jitendra Singh, a possible schedule for the launch of Chandrayaan-3 is planned to be implemented in the first half of 2021.
Key Points:
i.The preparation of Chandrayaan-3 has been done by taking lessons from the previously launched Chandrayaan-2, a Moon mission which was launched in 2019, in which the Indian Space and Research Organisation (ISRO)’s Vikram Lander lost contact following a hard landing on the Moon’s surface.
ii.Chandrayaan-3 will be designed to increase design, capacity with a cost of around Rs 610 crore, including Rs 360 crore for the launch rocket.
iii.ISRO also decided to launch in the same area where Chandrayaan-2 launched, and would have a lander, rover and propulsion module like its predecessor.
iv.Jitendra Singh also mentioned India’s manned space mission Gaganyaan project,where  4 biological and 2 physical science experiments related to microgravity have been done.
About Indian Space and Research Organisation (ISRO):
Headquarters– Bengaluru,Karnataka.
Chairman- Dr Kailasavadivoo Sivan

NASA’s named Mars 2020 rover as Perseverance
On March 6, 2020 NASA (National Aeronautics and Space Administration) announced the name of the 5^th Mars (red planet) rover as Perseverance. Previously the rover was known by its codename as Mars 2020. The name was suggested by Alexander Mather, 7^th standard student and was announced by Nasa’s director of science, Thomas Zurbuchen at an event in Lake Braddock Secondary School in Burke, Virginia.
About Perseverance: The rover has improved wheel design which is used to collect the samples from the martian rocks and helps scientists to determine about the ancient microbial life that existed in red planet.
Key Points:
i.Alexander Math will receive an invitation to travel with his family to Cape Canaveral, Florida, US (United States) to witness the rover begin its journey, when it launches between July 17 and August 5, 2020 & will come to land in February 2021.
ii.Nasa’s naming competition asked children to submit their favoured name for the Mars 2020 rover began in August 2019, comprises 4,700 voluntary judges including teachers and space enthusiasts shortlisted nine names and was asked by the public to vote & select the word through online.
iii.The Perseverance rover will be the  5^th exploratory vehicle after Sojourner, Spirit, Opportunity and Curiosity.
About NASA:
Headquarters- Washington, D.C., United States.
Administrator- Jim Bridenstine.

SPORTS

Indian runner Prachi provisionally suspended after testing positive for OxandroloneIndian 400-meter runner Prachi choudhary from Uttar Pradesh was tested out of competition and was provisionally suspended by the National Anti-Doping Agency (NADA) on March 6,2020, for the presence of anabolic steroid, Oxandrolone.

• The provisional suspension starts to apply from February 20, 2020.
• Prachi Choudhary was tested out on 30 December 2019 in Patiala at Netaji Subhas National Institute of Sports center by NADA’s Dope Control Officers(DCO).  The test comes out positive from Qatar’s Doha testing laboratory.
• Prachi, a bronze medalist at the Senior Nationals athletics meeting in Guwahati 2018 and she won’t be able to qualify for any Olympic qualification match or any AFI. sanctioned events and failed to obtain a Therapeutic Use Exemption(TUF) certificate for the presence of banned substances.

Sports Authority of India (SAI) announced 1^st edition of Under-21 Khelo India Women’s Hockey League
On March 5, 2020 Sports Authority of India (SAI), in association with Hockey India announced the 1^st edition of the Khelo India Women’s Hockey League Under-21. The tournament will be organized by Hockey India at 3 phases in 3 different venues between March to November 2020.
Key Points:
i.Dates & Venues of 3 phases:

•  Phase 1 tournament – from March 23 to 29, 2020 at the Major Dhyan Chand National Stadium in New Delhi.
• Phase 2 tournament – from July 13 to 19, 2020 at the SAI Center in Bengaluru, Karnataka.
• Phase 3 tournament – from November 22 to 29, 2020 at the Kalinga Hockey Stadium in Bhubaneswar, Odisha.The tournament will be played as per the latest FIH (International Hockey Federation) Outdoor regulations and FIH Rules of Hockey.
  About Sports Authority of India:
  Headquarters- New Delhi.
  Director- Sandip Pradhan.

BOOKS & AUTHORS

Smriti Irani releases book titled “Chronicles of Change Champions” at New Delhi
On March 5, 2020 Smriti Zubin Irani Union Minister of Women & Child Development released a book titled “Chronicles of Change Champions” at New Delhi.  The book is written with the 25 innovative initiative taken under the “Beti Bachao Beti Padhao” (BBBP) scheme at the state and district level.

• The book has captured the convergent approach at the grass root level and provides insight into the unique manner of community engagement by the District Administration and front-line workers.

Beti Bachao Beti Padhao Scheme:

• Beti Bachao Beti Padhao Scheme was launched by the Prime Minister Narendra Modi on 22 January 2015 at Panipat, Haryana.
• This Scheme is unveiled with the objective of addressing the declining Child Sex Ratio (CSR) and other issues related to the women empowerment. It aims to Protect and provide the girl child with education and remove the gender based discrimination and elimination.
• This scheme was initiated by Ministries of Women & Child Development, Human Resource Development, and Health & Family Welfare.

IMPORTANT DAYS

Jan Aushadhi Diwas 2020 is observed on March 7The ‘Jan Aushadhi Diwas’ is observed every year on March 7.  The aim of this day is to create awareness about the use of generic medicines. This day also celebrates the achievements of Pradhan Mantri Bharatiya Janaushadi Pariyojana. The first “Jan Aushadhi Diwas” is celebrated on 7^th March 2019.

• On this day Prime Minister Narendra Modi will interact with seven Pradhan Mantri Bharatiya Janaushadi Pariyojana Kendrasthe, beneficiaries and owners of Jan Aushadhi kendras across the country through video conferencing from New Delhi….Click here to Read More

STATE NEWS

Lieutenant Governor Girish Chandra Murmu launched Student Health Card scheme for school children  in Jammu and Kashmir
On March 5, 2020, Jammu and Kashmir, Lieutenant Governor Girish Chandra Murmu launched a Student Health Card scheme for school children aimed to improve the health and overall wellbeing of over 12 lakh students of government schools.
i.The aim of the scheme is to ensure good health of every school going child & to create awareness among parents about the benefits of this scheme.
ii.Under the scheme,to ensure good health, regular health checkups for school going children will be made.
iii.The card will carry information about the immunisation record & bi-annual examination of a child, check list of commonly existing disorders among children &  their preliminary diagnostic tools, tabular description of periodic health profile matrices & a brief description of commonly occurring diseases and ailments among children.
iv.The scheme was launched during a programme organised by the Directorate of Mid Day Meal, School Education Department along with National Health Mission today at Teachers Bhavan Jammu.
v.Earlier, Mid Day meal Scheme was launched for the needy school going children so that malnutrition can be prevented.
About Jammu & Kashmir:
Capital- In Summer- Srinagar, In Winter- Jammu
State Bird– Black-necked Crane

AC GAZE

West Indies skipper Kieron Pollard becomes first player to play 500 T20s
West Indies skipper Kieron Pollard has become the first player in the history of T20 (Twenty20) cricket to feature in 500 matches during the field against Sri Lanka for the first T20I in Pallekele, Srilanka.Dwayne Bravo is second in the list followed by Chris Gayle.

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