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Current Affairs 15 March 2020

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We are here for you to provide the important Recent and Latest Current Affairs 15 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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Current Affairs 15 March 2020

NATIONAL AFFAIRS

Mumbai Central station to be renamed as Nana Shankarsheth Mumbai Central railway station
On 12th March 2020, the Maharashtra Government has approved to rename the Mumbai Central Station as Nana Shankarsheth Mumbai Central Railway Station.
i.The Mumbai Central  Station has been re-named to Nana Shankarsheth Central Railway Station as his involvement in the formation of Indian Railway association was pivotal to the country.
ii.The Bombay Central is designed by British architect Claude Batley.  The first railway in India ran over 21 miles from Bombay to Thane.
About Nana Shankarsheth:
Jagannath (Nana) Shankarsheth is a Maharashtrian philanthropist and educationist (1803-1865), he contributed a lot for the development of Mumbai. He is the First Indian to be nominated in the Legislative Council of Bombay.
About Maharashtra:
Capital- Mumbai
Governor- Bhagat Singh Koshyari
National Parks- Sanjay Gandhi National Park Borivalli, Mumbai; Gugamal National Park , Melghat;Pench National Park , Nagpur;Tadoba National Park , Chandrapur;Navegaon National Park, Gondia.

Assam Government to construct 33 stadiums under Uttaran scheme
The Assam Government plans to construct 33 stadiums across the state under the Uttaran Scheme, 300 crores will be provided to construct these stadiums announced by Principal Secretary of Sports Avinash Joshi and Joint Director Kamaljit and 500 playgrounds are being built to encourage rural talents.
Key Points:
i.The Government has decided to provide an amount of Rs.50,000 to 1000 players and Rs.75,000 will be given to 2500 clubs.
ii.The Uttaran Scheme is adopted by the Assam Government to give a new dimension to the visions of the MLAs and to implement innovative projects which will be suitable to local needs.
About Assam:
State Animal- One-horned rhinoceros
State Festival- Bihu
Chief Minister- Sarbananda Sonowal
Governor- Jagdish Mukhi

WINGS INDIA 2020 an international exhibition & conference held in HyderabadWings India 2020A 4 day (March 12-15) biennial event WINGS INDIA 2020 themed as ‘Flying For All’ is an International Exhibition & Conference on Civil Aviation sector held at Begumpet Airport, Hyderabad, is organized by Ministry of Civil Aviation & Airports Authority of India(AAI) & Federation of Indian Chambers of Commerce and Industry (FICCI).
Key Points:

i.The purpose of the event is to provide assistance to the rapidly changing dynamics of the sector & focus on new business acquisition, investments, policy formation and regional connectivity….Click here to Read More

Rs 1.83 lakh crore spent under MNREGA  in 2017-2020
On March 13, 2020 the government states that Rs 1.83 lakh crore is spent under Mahatma Gandhi National Rural Employment Guarantee Act, (MNREGA) in 2017-2020 which is nearly double the amount of Rs 92,483 crore spent in 2011-14

  • As on 9th March 2020, 526.97 lakh families have been provided employment, against 603.81 lakh families seeking employment under the scheme
  • There are provisions for payment of wages in the event of delay in providing employment or payment to beneficiaries.

About MNREGA:
i.Indian legislation enacted on August 25, 2005. It provides a legal guarantee for 100 days of employment in every financial year to adult members of any rural household who willingly does unskilled manual work.
ii.The aim of the act is to improve the purchasing power of the rural people, to provide primarily semi or unskilled work to people living below the poverty line in rural places.It seeks to bridge the gap between the rich and the poor of the country. One-third of the designated workforce must be women.
iii.The scheme implementation in association with state governments is monitored by The Ministry of Rural Development (MRD)
iv.It is also known as Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS).

Cabinet Approval on March 13,2020Union_cabinet_decisionUnion cabinet chaired by Prime Minister Narendra Modi has approved the following approvals on March 13, 2020.
Union Cabinet approves Yes Bank reconstruction plan; SBI, HDFC, ICICI, Axis are among others to invest.
Cabinet clears 4% DA hike for central government employees to 21% from 17%.
Cabinet approves scheme for “Remission of Duties and Taxes on Exported Products (RoDTEP)” for enhancing Exports to International Markets.
Cabinet approves removal of ambiguities in the Modified NPS-III for determination of fixed costs for the urea units.
Cabinet approves Minimum Support Price for Copra for 2020 season….Click here to Read More

‘Bhoomi Rashi portal’- expedited Error free & transparent land acquisition for National Highways project
On March 13, 2020 The Ministry of Road Transport and Highways (MoRTH) announced  that the ‘Bhoomi Rashi’ portal has significantly increased the process of land acquisition for National Highways project. The portal has made the process error-free & more transparent with the notifications at every stage being processed in real-time.
Key Points:
i.About Bhoomi Rashi portal: MoRTH has launched the portal BhoomiRashi on April 1, 2018.
ii.In past, the acquisition of land for the purpose of National Highway projects, payment of compensation to the land owners were done manually & the physical movement of documents were in the form of files. So there was delay in issuing notification, errors in the land/ area details etc.,
iii.In order to overcome the delays, issues and to avoid parking of public funds with the Competent Authority for Land Acquisition (CALA), MoRTH has developed web based Utility- ‘Bhoomi Rashi’ to fully digitize and automate the entire process of land acquisition.
iv.It has been integrated with PFMS (Public Financial Management System) for depositing the compensation in the account of interested/ affected persons immediately.
About Ministry of Road Transport and Highways:
Headquarters- New Delhi.
Union Minister- Nitin Jairam Gadkari.

INTERNATIONAL AFFAIRS

3rd edition of WION Global Summit 2020 held in Dubai,UAEWION global summit held in DubaiOn March 5, 2020, WION (World Is One News), the India’s first International News Channel,has organized its 3rd edition of Global summit 2020 based on the theme “Navigating and negotiating global imperatives” at The Oberoi, in Dubai, UAE ( United Arab Emirates).
Key Points:

i.It saw the participation of global leaders to engage in dialogue on a common global agenda to underscore the critical challenges of climate change, global governance, economic slowdown, and global crisis that threatens to become the new normal.
ii.The Summit focused on 4 key sessions namely- India and the Emerging World focusing on the dynamics, Balancing and Recalibrating Pakistan’s Diplomatic Strategy, Climate change & Global Leaders forum.
iii.During the event, Former Pakistan Minister Khurshid Mahmud Kasuri recalled the plan for Sir Creek pact.
What is Sir Creek?
Sir Creek (originally Ban Ganga), is a 96 km long stream of water disputed between India & Pakistan in the Rann of Kutch marshland.
The boundary line of this stream is named after a British representative. This stream falls into the Arabian Sea, dividing the Sindh province of Pakistan from the Kutch region of Gujarat.
What is the dispute?
The Sir Creek boundary line dispute has virtually arisen due to a vague interpretation of the maritime boundary line between Kutch and Sindh.
Prior to independence, this provincial region was part of the Bombay Presidency of British India. After India’s independence in 1947, Sindh became part of Pakistan, while Kutch remained part of India. According to the claims submitted by Pakistan, the entire creek area has the right as per Article 9 and 10 of the ‘Bombay Government Resolution’ signed between the then Sindh government & Rao Maharaj of Kutch in 1914.
About UAE:
Capital– Abu Dhabi
Currency– United Arab Emirates dirham
President– Khalifa bin Zayed Al Nahyan
Prime Minister– Mohammed bin Rashid Al Maktoum

BANKING & FINANCE

RBI issues guidelines for Ind AS implementation by NBFCs, ARCsRBI NBFCOn March 13, 2020, the Reserve Bank of India (RBI) has framed regulatory guidance on Indian Accounting Standards (Ind AS) to be applicable on Ind AS implementing Non-Banking Financial Companies (NBFCs) and Asset Reconstruction Companies (ARCs) for preparation of their financial statements (FS) from financial year (FY) 2019-20 onwards. The guidance has been framed to promote a high quality, consistent implementation, and better supervision of FS.

  • As per the guidance, all Non-Banking Financial Companies (NBFCs) covered by Rule 4 of the Companies (Indian Accounting Standards) Rules, 2015 are required to comply with Ind AS for the preparation of their FS….Click here to Read More

 APPOINTMENTS & RESIGNATIONS          

Prashant Kumar appointed as MD & CEO, Sunil Mehta as Non-Executive Chairman & of YES BankSunil Mehta Non-Executive Chairman Prashant Kumar MD & CEO of YES BankOn March 14, 2020 Government appointed former Chief Financial Officer & deputy Managing Director(MD) of SBI Prashant Kumar as MD & Chief Financial Officer(CEO), the former Punjab National Bank(PNB) MD Sunil Mehta as Non-Executive Chairman, Mahesh Krishnamurthy & Atul Bheda as non-executive directors of the reconstructed board of Yes Bank.
i.
State Bank of India (SBI), which has a 49 % stake in Yes Bank, will nominate 2 directors & Reserve Bank could appoint one or more additional directors.
ii.Any investor other than SBI with 15% voting rights can nominate 1 director. Until an alternate board is constituted board members will have a term of 1 year.
iii.The moratorium on Yes Bank to be lifted by March 18 which means depositors will be able to withdraw an amount without a cap.
iv.On March 5 2020, the RBI put a moratorium on Yes Bank restricting withdrawals to Rs 50,000 per depositor till April 3.

SCIENCE & TECHNOLOGY

Scientists at ARCI- Hyderabad develops ‘solar receiver tube technology’ for industrial process heat
On March 13, 2020, Scientists at the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), Hyderabad (Telangana), has developed a cost-effective ‘solar receiver tube technology’ that absorbs solar radiation and converts it into heat for the targeted applications, especially in industries.
Key Points:
i.ARCI has filed 2 patent applications for this technology, and also inked an MoU(Memorandum of understanding) with Greenera Energy India Private Limited for technology transfer, that aims to develop the solar receiver tube for wider market absorption.
ii.The solar receiver tube, which has a  high corrosion resistance, functions  based on the Concentrating Solar Thermal (CST),that provides a better solution to handle the demands on industrial process heat (≤ 250 °C).
iii.The receiver tube has the capability of  93% absorption ,14% emittance & has  better thermal stability as well. The trial of absorber coating has been made successfully for heat gain and heat loss studies in a testing facility established at ARCI.
About ARCI:
Chairman– Dr. Anil Kakodkar
It is an Autonomous Research and Development Centre of Department of Science and Technology (DST), Government of India (GoI) with main campus at Hyderabad .

ENVIRONMENT

Newly Discovered insect species named after singer Lady Gaga
On March 11, 2020 A newly discovered species of treehopper has been named “Kaikaia Gaga” after American singer Lady Gaga. The species was named by Brendan Morris, PhD candidate in entomology from University of Illinois, United States (US).
Key Points:
i.The species were found near the Pacific coast of Nicaragua and the species looks beautiful, vibrant as pop diva, have crazy horns with wacky fashion sense.
ii.The information about the new insect species was published in the journal Zootaxa (which focuses on animal taxonomy).
iii.The treehopper is not the first species to be named after a famous musician. A deep-sea crustacean was named from American heavy metal band Metallica and is now known as Macrostylis metallicola in february 2020 and the Synalpheus pinkfloydi shrimp was named after the English rock band Pink Floyd.

SPORTS

Jaydev Unadkat led Saurashtra Cricket team won Ranji Trophy title 2019-20Ranji Trophy titleOn March 13, 2020 Jaydev Dipakbhai Unadkat, 28 years old, led Saurashtra team and won the maiden Ranji Trophy title, on the basis of earning 44 runs in the first innings defeating Bengal team at the Saurashtra Cricket Association Stadium, Rajkot, Gujarat.
Key Points:

i.The final of the Ranji trophy is headed towards a draw, then the winner Saurashtra is decided on the basis of a first-innings lead, as per the rule.
ii.Saurashtra team has ended as runners-up three times in the last seven Ranji seasons.
iii.Fact: Previous teams of Saurashtra were Nawanagar & Western India. Nawanagar won the Ranji trophy in 1936-37, while Western India won the trophy in 1943-44.
About Ranji Trophy:

  • The Ranji Trophy is a domestic first-class cricket championship played in India between multiple teams representing regional & state cricket associations.
  • The most successful champion of Ranji trophy was Mumbai (41 times).

IMPORTANT DAYS

Pi Day was celebrated on March 14, 2020Pi Day 2020Pi Day was celebrated on March 14, 2020 because the date stands as 3/14 in the month/day format. Pi (Greek letter “π”) is the symbol used in mathematics to represent a constant and its value up to five decimal places 3.14159. Coincidentally, March 14 is also Physicist Albert Einstein’s birthday.
Key Points:

i.About Pi: Pi (π) is the ratio of a  circle’s circumference to its diameter. The diameter of a circle is the distance from edge to edge (measuring through the center) & the circumference is the distance around the circle.
ii.In 2009, the United States House of Representatives supported the designation of Pi day.
iii.Facts: Pi Approximation Day is observed on July 22 (22/7 in the day/month format), since the fraction (22/7) is the common approximation of Pi.
iv.Two Pi day, also known as Tau Day for the mathematical constant (τ), is observed on June 28 (6/28 in the month/day format) and the constant is equal to 2π (2 times of pi) and approximately 6.28.

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S.No   AffairsCloud Today(Current Affairs Today): 15 March 2020
1 Mumbai Central station to be renamed as Nana Shankarsheth Mumbai Central railway station
2 Assam Government to construct 33 stadiums under Uttaran scheme
3 WINGS INDIA 2020 an international exhibition & conference held in Hyderabad
4 Rs 1.83 lakh crore spent under MNREGA  in 2017-2020
5 Cabinet Approval on March 13,2020
6 ‘Bhoomi Rashi portal’- expedited Error free & transparent land acquisition for National Highways project
7 3rd edition of WION Global Summit 2020 held in Dubai,UAE
8 RBI issues guidelines for Ind AS implementation by NBFCs, ARCs
9 Prashant Kumar appointed as MD & CEO, Sunil Mehta as Non-Executive Chairman & of YES Bank
10 Newly Discovered insect species named after singer Lady Gaga
11 Scientists at ARCI- Hyderabad develops ‘solar receiver tube technology’ for industrial process heat
12 Jaydev Unadkat led Saurashtra Cricket team won Ranji Trophy title 2019-20
13 Pi Day was celebrated on March 14, 2020

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