Current Affairs 3 March 2021

We are here for you to provide the important Recent and Latest Current Affairs 3 March 2021, which have unique updates of Latest Current Affairs 2021 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

MTRC System Commissioned in Trains ; First of its Kind in Indian Railways

On March 1, 2021, Alok Kansal, General Manager, Western Railway inaugurated the newly commissioned Mobile Train Radio Communication (MTRC) system (also known as Global System for Mobile Communications – Railway (GSM-R)) at Divisional Railway Manager’s office in Mumbai, Maharashtra. It is the 1st time that MTRC has been commissioned in Indian Railways (IR).

• MTRC System is a TETRA (Terrestrial Trunked Radio) based Digital technology.
• It can help in preventing train accidents by ensuring an instant & constant interaction of train crew with the Control Centre and the Station Master.
• It will monitor, track (through GPS) & aid in communication between the trains & the control room and ensure smooth movement of rakes & in mitigation of adverse events.

Where has it been commissioned?

• The MTRC system has been commissioned in the 60 km suburban section between Churchgate-Virar section of Mumbai and installed in 90 out of 100 rakes running in the section.
• Technical and maintenance support of the system will be provided by M/s. Consort Digital Pvt. Ltd., New Delhi for seven years with an estimated cost of Rs. 5.98 Crore.

About Indian Railways:
Chairman & CEO – Suneet Sharma
Headquarters – New Delhi
<<Read Full News>>

NSE Signed a MoU to Set Up Market Infrastructure Institutions with IBX at GIFT City, Gujarati.On 1st March 2021, The National Stock Exchange of India Limited (NSE India) signed a Memorandum of Understanding(MoU) to set up a market infrastructure institution which consists of International Bullion Exchange(IBX), clearing corporation and depository, at the Gujarat International Finance Tec (GIFT) City in Gujarat.
ii.The other signatories were Multi Commodity Exchange of India Ltd, India INX International Exchange Ltd, National Securities Depository Ltd and Central Depository Services (India) Ltd.
About National Stock Exchange (NSE):
NSE is India’s largest Financial market, and world’s largest derivatives exchange in terms of contracts traded.
Managing Director & CEO– Vikram Limaye
Incorporated in 1992
Headquarters– Mumbai, Maharashtra
<<Read Full News>>

MoHUA launches Field Assessment of Swachh Survekshan 2021On March 1, 2021, Durga Shanker Mishra, Secretary of Ministry of Housing and Urban Affairs (MoHUA) launched the field assessment for the 6th Edition of the Annual Cleanliness Survey ‘Swachh Survekshan 2021 (SS2021)’ (urban) in New Delhi.

• The Survey (face-to-face citizen’s feedback) will take place between January 4-31 every year but the same is set to be conducted between March 1-28, 2021 due to pandemics.

• In SS2021, apart from ranking cities & states, districts are also set to be ranked (based on performance of their cities).
• MoHUA conducts the survey while the Quality Council of India (QCI) is the Implementing Agency.
• Swachh Survekshan is the World’s largest cleanliness survey.

Objective of Swachh Survekshan

• To create a health competition amongst towns & cities by improving service delivery to citizens & moving towards creating cleaner ities.
• To Encourage Large Scale participation, ensure sustainability of initiatives taken towards garbage free & open defecation free cities.

Background

• Swachh Survekshan is an annual survey of cleanliness, hygiene & sanitation in cities & towns across India. It is conducted in both Rural & Urban Areas.
• It was launched in 2016 by MoHUA as part of the Swachh Bharat Abhiyan to make India clean & free of open defecation by October 2, 2019.
• MoHUA conducts the surveys in Urban Areas (Swachh Survekshan-Urban), while the Ministry of Jal Shakti conducts surveys in Rural areas (Swachh Survekshan-Gramin).

<<Read Full News>>

Swachhta Saarthi Fellowships launched by the Office of the Principal Scientific Adviseri.On March 1, 2021, the Office of the Principal Scientific Adviser to the Government of India (GoI) under its “Waste to Wealth” Mission launched the “Swachhta Saarthi Fellowship”.
ii.These fellowships will recognize students, community workers/self-help groups (SHGs), and municipal/sanitary workers who are working as Swachhta Saarthis to tackle the challenge of waste management, scientifically and sustainably through various initiatives.
About Office of the Principal Scientific Adviser to the GoI:
Establishment– 1999
Principal Scientific Adviser to GoI– Professor Krishnaswamy VijayRaghavan
Headquarter– New Delhi
<<Read Full News>>

Saras Aajeevika Mela 2021 at Noida Haat to Bring Rural Women SHGs Under One Platform

On 26th February 2021, Narendra Singh Tomar, Union Minister of Rural Development, inaugurated the Saras Aajeevika Mela 2021 at Noida Haat to bring rural women Self-Help Groups(SHGs) under one platform. The Saras Aajeevika Mela 2021 has been organised from 26th February 2021 to 14th March 2021.
More than 300 SHGs and craftsmen from 27 states are participating in the mela organised by the Ministry of Rural Development. 

INTERNATIONAL AFFAIRS

One in four people will have hearing problems by 2050: WHO’s 1^st Report on Hearingi.On March 2, 2021, the World Health Organization’s (WHO) released its first World Report on Hearing stating that nearly 2.5 billion people worldwide or 1 in 4 people will suffer from hearing problems by 2050.
ii.At present one in five people worldwide have hearing problems. If the issue is not properly addressed, there will be a loss of trillion US dollars every year.
iii.In order to overcome this scenario, the report proposed measures, which would cost $1.33 per person per year.
About World Health Organization (WHO):
Director General– Tedros Adhanom Ghebreyesus (Ethiopia)
Headquarters– Geneva, Switzerland
<<Read Full News>>

Global energy-related CO2 emissions fell by 5.8% in 2020 due to Pandemic : IEA According to data released by the International Energy Agency (IEA), Global energy-related CO2 emissions declined by 5.8% or 2 Billion Tonnes in 2020 due to the Pandemic. It is the largest annual percentage decline since World War II.

• More than 50% of the total global drop in CO2 emissions in 2020 was due to the decline in  CO2 emissions from oil use in the Transport & aviation sectors.
• The Primary energy demand also fell by nearly 4% in 2020.

Emissions from World’s Largest CO2 emitters

• In India (World’s 3rd Largest CO2 emitter after China, USA), annual emissions declined by 7% (or 160 Metric tons of Carbon Dioxide (Mt CO2)) in 2020.
• In the USA the emissions decreased by 10% in 2020, While China recorded an increase in emissions for the year 2020 by 0.8% or 75 million tonnes.

Increase in Growth of Renewables generation

• The share of Global electricity generation increased from 27% in 2019 to 29 in 2020, the biggest annual increase on record.

About International Energy Agency (IEA):
Executive Director – Dr Fatih Birol
Headquarters – Paris, France
<<Read Full News>>

BANKING & FINANCE

SEBI eases Listing Rules for IPOs of Large Companiesi.The Securities and Exchange Board of India (SEBI) during its board meeting eased the listing norms for large companies by enabling them to divest minimum 5% in the IPO (Initial public offering), instead of 10%. Also, for raising the public float to 25%, the term has increased to 5 years instead of 3 years.
ii.This move will encourage large firms to opt for listing.
iii.The meeting was also attended by Union Minister Nirmala Sitharaman, Ministry of Finance and Minister of State (MoS) Anurag Thakur.
About Securities and Exchange Board of India (SEBI):
Establishment– 1992
Chairman– Ajay Tyagi
Headquarter– Mumbai, Maharashtra
<<Read Full News>>

SBI Mutual Fund launched its 1^st overseas fund “SBI International Access – US Equity”i.On March 1, 2021, The State Bank of India (SBI) Mutual Funds has launched its first overseas offering namely “SBI International Access-US Equity FoF” which is an open-ended Fund of Fund (FoF) scheme that would invest in mutual fund schemes /ETFs (exchange traded fund) that invest in the United States (US) markets. The offering will close on March 15, 2021.
ii.The scheme will invest 95-100% of its net assets in Amundi Funds – US Pioneer Fund which invest predominantly in the US markets.
About SBI Mutual Fund(SBIFMPL):
SBIFMPL is a joint venture between the State Bank of India, an Indian public sector bank, and Amundi, a European asset management company.
CEO & Managing Director -Mr. Vinay M. Tonse
Headquarters– Mumbai, Maharashtra
Founded – 1987

<<Read Full News>>

World Bank plans $100-mn Guarantee Scheme for Solar Rooftop ProjectsIn order to boost India’s rooftop solar programme, the World Bank (WB) is planning to launch a $100-million (~727 Crore Indian Rupees) credit guarantee scheme along with the State Bank of India (SBI) and the MSME ministry.

• This scheme will enable micro, small, and medium enterprises (MSMEs) and those firms which do not meet the lending criteria of banks and other financial institutions to avail concessional debt financing for setting up rooftop solar units.
• World Bank has supported India’s green economy finance and in 2016 had launched a $625 million lending programme with SBI for rooftop solar units for the commercial, industrial, and institutional sectors.

About World Bank:
Established in – 1944
President– David Robert Malpass
Headquarters– Washington, D.C., United States
<<Read Full News>>

TGB & APGVB become 1st RRBs in India to Launch Video-KYC FacilityTwo Regional Rural Banks (RRBs) – Telangana Grameena Bank (TGB) & Andhra Pradesh Grameena Vikas Bank (APGVB) became India’s 1st RRBs to launch Digital Savings Account opening facility through Video-Know Your Customer (KYC) facility.
Both RRBs are sponsored by the State Bank of India (SBI).

• The feature was virtually launched by Dinesh Kumar Khara, Chairman of SBI.
• The feature will enable ‘zero contact’ onboarding of customers which are equivalent to commercial banks.
• The facility will increase the CASA (Current Account Savings Account) Portfolio of both RRBs.
• TGB operates in 18 districts in Telangana, while APGVB operates in 19 districts of Telangana & 5 districts of Andhra Pradesh.

About Telangana Grameena Bank (TGB):
Telangana Grameena Bank (TGB) formerly known as Deccan Grameena Bank – DGB.
Chairman – V.Arvind
Established in– 2006
Head Office – Hyderabad, Telangana
About Andhra Pradesh Grameena Vikas Bank (APGVB):
Chairman – K. Praveen Kumar
Established in – 2006
Head Office – Warangal, Telangana
<<Read Full News>>

Cashfree partners with PayPal to enable International Payments for MerchantsCashfree, a Bengaluru-based payments & banking technology company has partnered with PayPal to enable International payments for its merchants.  It will enable businesses using Cashfree’s payment gateway to show prices of all products in 28 + currencies.

• It will enable Businesses to add a PayPal Express Checkout option to their order pages and accept payments from users across 200 markets.
• Accordingly, Cashfree will perform the foreign currency exchange automatically and the amount will get credited to businesses accounts in rupees.
• Businesses which have partnered with Cashfree can activate One Touch payments which would let their customers stay logged in & finish the transactions with ease.

About CashFree:
CEO & Co-Founder – Akash Sinha
Location – Bengaluru, Karnataka
<<Read Full News>>

AWARDS & RECOGNITIONS        

Mukesh Ambani becomes 8th Richest in the World, Elon Musk tops the list: Hurun Global Rich List 2021According to Hurun Global Rich List 2021, Chairman of Reliance Industries (RIL), Mukesh Ambani with a wealth of USD 83 Billion (~ INR 6 Lakh Crore) became the 8th Richest Person in the World. The List was topped by Elon Musk (CEO of Tesla), Jeff Bezos (CEO of Amazon) & Bernard Arnault (CEO of LVMH-Louis Vuitton).

• In the Hurun Global Rich List 2020, Mukesh Ambani was ranked 9th.
• Hurun Global Rich List 2021 is the 10th Year of ranking. It ranked 3, 228 Billionaires from 2, 402 companies & 68 countries.
• Elon Musk took the number 1 spot for the 1st time and at the age of 49 years is the youngest to take the No.1 spot.

Youngest Indians

• Apoorva Mehta of Instacard & Nikhil Kamath of Zerodha (both 34 years) became the youngest Indian Billionaires with a net worth of USD 1.7 Billion.

India climbs to 3rd spot
India Climbed to 3rd Spot in the Hurun Global Rich List 2021 with 209 Billionaires (out of which 177 live in India, 32 Indian Origin). China came 1st followed by the USA.

ASIA

About Hurun Report:
Chairman and Chief Researcher – Rupert Hoogewerf (Hu Run)
Headquarters – Shanghai, China
About Hurun India:
MD and Chief Researcher – Anas Rahman
Headquarters – Mumbai
<<Read Full News>>

5 Indian-Origin personalities & 1 Indian Activist feature in TIME Magazine’s Annual List of 100

5 Indian-origin personalities & 1 Indian Activist have been featured in the 2021 TIME100 Next (TIME Magazine’s 100 emerging leaders list).  The 5 Indian origin personalities are Vijaya Gadde (Chief Legal Officer of Twitter), Rishi Sunak (Britain’s Finance Minister), Apoorva Mehta (Founder & CEO of Instacart), Shikha Gupta (Executive Director of Nonprofit ‘Get Us PPE’) & Rohan Pavuluri (Founder of Nonprofit ‘Upsolve’). Bhim Army Chief Chandra Shekhar Azad is the sole Indian activist who has been named in the list.

APPOINTMENTS & RESIGNATIONS          

Jaideep Bhatnagar Appointed as the Principal DG of PIB; takes over from Kuldeep Singh DhatwaliaThe Ministry of Information and Broadcasting appointed Jaideep Bhatnagar, 1986-batch Indian Information Service (IIS) officer as the Principal Director General(DG) of Press Information Bureau(PIB). 

• On 1st March 2021, he took over as the Principal DG from the incumbent Kuldeep Sing Dhatwalia, who superannuated on 28th February 2021.
• He has been serving as the Director General, News Services Division of All India Radio(AIR) since August 2020.

About Jaideep Bhatnagar:
i.Jaideep Bhatnagar has served in the Prasar Bharati as West Asia Correspondent.
ii.He has also served as the Head of the Commercial, Sales and Marketing Division in Doordarshan.
iii.He has served at various capacities in PIB for around 6 years.

SPORTS

Ministry of Youth Affairs & Sports Restored the Recognition of GFI after 10 yearsOn 26th February 2021, the Ministry of Youth Affairs and Sports restored the recognition of the Gymnastics Federation of India(GFI) as National Sports Federation after a decade. The recognition granted by the Ministry with immediate effect is for the period till 31st December 2021.
Background:
GFI’s accreditation was revoked by the ministry in 2011 exactly 10 year before due to fighting within the federation.
Appointment Info:

• The 2019 November Election of Sudhir Mittal as President, Kaushik Bidiwala as treasurer for the period of 2019 to 2023 has been recorded by the Ministry.
• The decision on accepting S Shanti Kumar Singh as General Secretary will be taken following the judgment of Manipur High Court on the writ petition filed by Shanti Kumar Singh.

Steps Need to be followed by GIF:

• GFI’s MoA must comply with the provisions of National Sports Development Code of India, 2011 (Sports Code)
• GIF Federation also needed to make affirmation of the provisions of the Sports Code in its constitution within 6 months so as to bring the same fully in line with the Sports Code.
• GFI has to take required measures for uploading the information in compliance with the instructions contained in the 2015 letter of the Ministry on suo-moto disclosure within 3 months.

Violation Norms:
i.The office bearers of the GFI shall invariably be appointed by the election as per the Model Election guidelines issued by the Ministry.
ii.The ministry stated that Recognition may be revoked again if the terms or conditions of the recognition or its own constitution are violated.

BOOKS & AUTHORS

Author Shrabani Basu’s New Book “The Mystery of the Parsee Lawyer” to be Released“The Mystery of the Parsee Lawyer: Arthur Conan Doyle, George Edalji and the Case of the Foreigner in the English Village” the new book authored by Shrabani Basu is set to be released on 3rd March 2021.  The book is published by Bloomsbury Publishing.
Notable fact:
i.The book uncovered the mystery case of George Edalji in the village of Great Wyrley in the early 20th Century which was investigated by Arthur Conan Doyle, the creator of Sherlock Holmes.
ii.This became the first investigation on real-life crime during Arthur Conan Doyle’s lifetime.
About the Book:
i.George Edalji, the son of Shahpur Edalji, Indian Parsi convert to christianity and the first Indian to have a parish in England.
ii.George Edalji was a successful barrister who was later prosecuted for the series of mystery murders and animal mutilations in 1903 that took place in the village of Great Wyrley near Birmingham.
iii. When he was released early, he contacted Arthur Conan Doyle who responded to his request to clear his name.
About Shrabani Basu:
i.Shrabani Basu, a journalist and the bestselling author of Sunday times, hails from Calcutta.
ii.She set up the Noor Inayat Khan Memorial Trust to ensure that Noor’s story and sacrifice were preserved for the next generation which was unveiled by Princess Anne in 2012.
iii.In 2020 the English Heritage invited her to unveil the blue plaque of Noor Inyat Khan in London.
Books:
Her well-known works includes the For King and Another Country: Indian Soldiers on the Western Front 1914-18, Victoria & Abdul: The True Story of the Queen’s Closest Confidant, Spy Princess: The Life of Noor Inayat Khan and Curry: The Story of the Nation’s Favourite Dish.

Evan Osnos’s New Book “Joe Biden: American Dreamer” a Biography of Joe BidenNational Book Award Winner Evan Osnos has authored a new Book “Joe Biden: American Dreamer” a biography of American President, Joe Biden that features both the personal and public life of Joe Biden.  The book is published by Bloomsbury Publishing. 
About the Book:
i.The author portrays President Joseph R. Biden Jr. as a man who has sustained a 50-year political career and became the President and a man who is marked with deep personal losses.
ii.The book captures the characters and features of the presidential election.
iii.The book features the revealing conversation between Joe Biden and others, including former President Barack Obama, Cory Booker, Amy Klobuchar, Pete Buttigieg, progressive activists, advisers, opponents, and his family members.
About Evan Osnos:
i.Evan Osnos worked as a staff writer in The New Yorker covering politics and foregin affairs.
ii.He has worked for the Chicago Tribune as Beijing bureau chief, he has also worked in the Middle East, reporting from Iraq.
Books:
i.His book “Age of Ambition: Chasing Fortune, Truth, and Faith in the New China,” based on his 8-year life in Beijing won the 2014 National Book Award. The book was also a finalist for the Pulitzer prize.
ii.He has also authored the book “Joe Biden: The Life, the Run, and What Matters Now.” published in 2020.
Awards:
He was a part of the team (staff of Chicago Tribune) that won the 2008 Pulitzer Prize for investigative reporting.

IMPORTANT DAYS

45th Civil Accounts Day – 1st March 2021i.Civil Accounts Day is annually observed by the Indian Civil Accounts Service(ICAS)on 1st March since the inception of ICAS on 1st March 1976. ICAS is one of the Civil Services of India, under the Department of Expenditure, Union Ministry of Finance.
ii.1st March 2021 marks the 45th Civil Accounts Day. For the first time the events of Civil Accounts Day have been organised as a virtual event in New Delhi.
iii.Union Minister of finance Nirmala Sitharaman addressed the inaugural session of the 45th Civil Accounts Day in New Delhi.
iv.The Indian Civil Accounts Service (ICAS) was established by carving it out from the Indian Audit & Accounts Service (IA & AS) through the promulgation of an Ordinance amending the C & AG’s (Duties, Powers and Conditions of Service) Amendment Act, 1976.
About Ministry of Finance:
Union Minister- Nirmala Sitharaman
Minister of State- Anurag Singh Thakur
Controller General of Accounts (CGA)- Soma Roy Burman
Office of CGA– New Delhi
<<Read Full News>>

STATE NEWS

Chhattisgarh CM Bhupesh Baghel presented HEIGHT State Budget worth Rs 97,106cr for FY22i.On March 1, 2021, the Chief Minister (CM) of Chhattisgarh Bhupesh Baghel, who also holds the Finance portfolio, presented a budget of Rs 97,106 crore for 2021-22 based on HEIGHT. In the term HEIGHT, H stands for holistic development, E for education (equal opportunity for all), I for infrastructure, G for governance, H for health and T for transformation.
ii.The state budget has made 38% provision for the social sector, 39% for the economic sector and 23% for the general service sector.
iii.No new taxes are proposed in this budget.
iv.The state’s gross domestic product (SGDP), at current prices, is estimated to increase from Rs 3,44,955 crores in the year 2019-20 to 3,50,270 crore in 2020-21, an increase of 1.54%.
v.The state achieved the growth of 5.10% despite the COVID-19 pandemic.
About Chhattisgarh:
Capital– Raipur, Bilaspur (Law Capital)
Governor– Anusuiya Uikey
<<Read Full News>>

Mizoram CM presents State Budget for the year 2021-22 with an outlay of INR 11,148.89 croreOn March 1, 2021, Mizoram Chief Minister Zoramthanga who also holds the Finance Portfolio presented the annual budget for the year 2021-22 with an outlay of INR 11, 148.90 crores.
Fiscal Indicators

• Revenue Expenditure for 2021-22 – INR 9, 216.39 Crore which is 82.67 % of the total budget.
• Gross Fiscal Deficit for fiscal 2021-22 – 2.14% and the primary deficit is 1.12% of the State Gross Domestic Product (GSDP).

Key Announcements

• Allocation of INR 400 Crore for various activities of Socio-Economic Development Policy (SEDP).
• A sum of INR 5 Crore has been set aside for the Rehabilitation of MNF (Mizo National Front) Returnees, who have come overground with the signing of Mizo peace accord in June, 1986.
• INR 4, 077.29 Crore has been allocated for the Social Services Sector (36.57% of total budget).

Click here to read the Full Budget
About Mizoram:
National Parks (NP) – Murlen NP, Phawngpui NP (also known as Phawngpui Blue Mountain National Park)
WildLife Sanctuary (WLS) – Khawnglung WLS, Lengteng WLS
<<Read Full News>>

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