Current Affairs March 2 2019

We are here for you to provide the important Current Affairs March 2 2019, which have unique updates of all daily 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 March 2 2019INDIAN AFFAIRS

Cabinet Approvals On February 28th, 2019

  • Pradhan Mantri JI-VAN Yojana approved by Cabinet
  • Cabinet approvedRs.1450 crore for share capital of RBI in NHB
  • CCEA approved construction of 4 lane bridge over River Brahmaputra
  • Proposal for setting up of Centre for Disability Sports at Gwalior was approved by Cabinet
  • “National Policy on Software Products 2019” was approved by Cabinet
  • Cabinet approved National Mineral Policy, 2019
  • Homeopathy Central Council (Amendment) ordinance 2019 was approved by cabinet
  • Agra, Kanpur metro rail projects approved by the Centre
  • Cabinet approved joining of IEA Bioenergy TCP by Ministry of Petroleum and Natural Gas
  • Foreign Investment upto Rs.25,000 crore  by Vodafone Idea approve
  • Jammu and Kashmir Reservation (Amendment) Ordinance, 2019 approved by the Cabinet.
  • Promulgationof Aadhaar and other Laws (Amendment) Ordinance, 2019 was approved by Cabinet
  • Cabinet approved Creation of 2 posts of commissioner for persons with disabilities in the Central Government
  • Cabinet approved Selling up of SPV for Disinvestment of AI, Subsidiaries / JV
  • Special Scheme for FAME India Phase II approved by Cabinet
  • Cabinet approved inclusion of CSC as Enrolment Agency for PM-SYM
  • Cabinet approved laying down procedure and mechanism for asset monetization
  • Setting up of new AIIMS at Manethi, Haryana received Cabinet Approval
  • Cabinet approves Rs.1236cr investment for Arun-3 Hydro project ……………………………. Click here to Read more

Cabinet Approvals With Foreign Countries On February 28, 2019

  • Cabinet apprised of MoU between India and Tajikistan on Cooperation in the field of Renewable Energy
  • Cabinet apprised of MoU between India and the UK on Cooperation in Weather and Climate Sciences
  • Cabinet approved MoU between India and Norway for undertaking non-intrusive Geological Surveys and Investigations
  • Cabinet approved to the MoU between India and Argentina on cooperation in the field of Medical Products Regulation
  • Cabinet approved MoU between India and USA to access tip line reports on Missing and Exploited Children………………………..Click here to Read more

Dharmendra Pradhan has hand over the 100th Letter of Intent to CBG Entrepreneur
On 27th February, 2019, Petroleum Minister Dharmendra Pradhan has handed over the 100th Letter of Intent (LoI) under SATAT- Sustainable Alternative Towards Affordable Transportation scheme to Compressed Bio-Gas (CBG) entrepreneur, which is an waste to wealth venture.SATAT is a developmental effort that would benefit both vehicle-users as well as farmers and entrepreneurs.

Dharmendra Pradhan has hand over the 100th Letter of Intent to CBG EntrepreneurAfter hand over of LoI, CBG would significantly reduce India’s import burden and provide an environment friendly and low cost alternative to conventional petroleum fuels.

DEPwD organized conference on Deendayal Disabled Rehabilitation Scheme in New Delhi
Department of Empowerment of Persons with Disabilities (DEPwD),Ministry of Social Justice and Empowerment has organized a national conference on “Deendayal Disabled Rehabilitation Scheme” at Dr. Ambedkar International Centre, New Delhi on 1st March, 2019.
Key points
i. The motive behind this conference is to lay impact on the need for creation of an inclusive society that accepts and respects disabled persons without discrimination.
ii. The Programme Implementing Agencies (PIAs) will collaborate in the mission to empower disabled persons.

3-day “Mainamati Maitree Exercise 2019” between BSF and BGB held in Tripura
Border Security Force (BSF) and Border Guards Bangladesh (BGB) took part in the 3-day ‘Mainamati Maitree Exercise 2019’ as a part of ‘Confidence Building Measures’ between India and Bangladesh held in a general area of BSF’s Srimantapur border outpost near Agartala, Tripura.
i. The main objective of this exercise was to plan and conduct anti-smuggling and anti-criminal activity related operations with an aim to achieve better joint operational efficiency and border management in the area.
ii. Both the forces took part in joint patrolling, anti-smuggling drills, simulated raids on suspected places in both the countries, and checking of goods and identity at international check posts.
iii. The exercise was named after Mainamati hill range situated 8 km west of Comilla township in Bangladesh, which is home to ancient Buddhist archaeological site in the region.
About Bangladesh
♦ Capital – Dhaka
♦ Currency – Taka
♦ Prime Minister – Sheikh Hasina

BANKING & FINANCE

AIIB approved USD 455 Million loan for the Andhra Pradesh Rural Roads Project
A loan agreement of USD 455 million was signed between the Asian Infrastructure Investment Bank (AIIB) and the Government of India for financing the Andhra Pradesh Rural Roads Project, which will connect 3,300 habitations with a population of more than 250, and benefit around 2 million people in New Delhi.

AIIB approved USD 455 Million loan for the Andhra Pradeshi. The objective of the Project is to improve road transport connectivity in previously unserved communities by providing all weather rural roads in all 13 Districts of Andhra Pradesh.
ii. It is the third project in Andhra Pradesh signed by the AIIB after two projects in  Power Sector and Water Sector.
About AIIB
♦ President – Jin Liqun
♦ Headquarters – Beijing, China
♦ India is the Second Largest shareholder in the AIIB and its largest borrower

DCB Bank launches Open Banking Platform for next generation banking solutions
As part of efforts towards creating a collaborative ecosystem with enterprisesfintechs and app developers, and enhancing customer-service delivery, Development Credit Bank (DCB) Bank announced the launch of its Open Banking Platform.
i. More than 20 start-ups, fintechs, merchants, enterprises and developers are set to  partner with DCB Bank for access to its Open Banking Platform APIs (Application programming interface) and collaborate on innovation and customer centric products.
ii. It will provide seamless integration of banking services by improving the existing banking technology infrastructure and at the same time meet the growing demand for innovative solutions from new-age customers.
About DCB Bank
♦ Chairman – Nasser Munjee
♦ Headquarters – Mumbai, Maharashtra

India’s first policy to protect bank locker launched by IFFCO Tokio General Insurance
IFFCO Tokio General Insurance launched ‘bank locker protector policy’, the first stand-alone bank locker cover offered by any insurance company with a plan to protect the contents of a bank locker such as jewelry, title documents, and other valuables.

India’s first policy to protect bank locker launched by IFFCO Tokio General Insurancei. The policy offers a cover against various risks including fire, earthquake, burglary, holdup, infidelity by a bank staff or any act of terrorism.
ii .Important documents kept in a locker can also be insured under the policy as an add-on cover.
iii. The policy can be sold both as a retail and a group policy for banks.
iv. It offers 7 options of sum insured ranging from Rs 3 lakh to Rs 40 lakh and above and the premium rate is affordable with a cover of Rs 3 lakh available at just Rs 300, which is less than Rs 1 per day.
About IFFCO Tokio
♦ A joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group which is also the largest listed insurance group in Japan.
♦ Chairman – Mr. K. Srinivasa Gowda
♦ Headquarters – Gurgaon, Haryana

BUSINESS & ECONOMY

Moody has projected Indian economy growth at 7.3% for 2019-20
According to the US-based rating agency – Moody’s quarterly Global Macro Outlook which was released on 1st March, 2019, Indian economy is expected to grow at 7.3 per cent in 2019 and 2020.

India's economy to grow at 7.3% in 2019-20 Moody's reportKey points
i. According to Moody’s India is less exposed to decline in global manufacturing trade growth than other Asian economies and emerging markets and is balanced to grow at a relatively stable pace in the next two years.
ii. According to Moody’s growth in 2018-19 fiscal, ending March 2019, Indian economy is estimated to have grown 7 per cent.

India Growth rate falls to 6.6% in Q3
On 28th February, 2019, the Central Statistics Office (CSO) has estimated the India’s economy to have slowed to 6.6% in the December quarter (Q3) from 7% in the previous (July-September) quarter  which is slowest in five quarters.
Key points
i. This estimate is lower than Reuters estimate of 6.9% for the same quarter.
ii. This data has revised the country’s 2018-19 GDP forecast to 7% from 7.2%.

AWARDS & RECOGNITIONS

Innovation in Governance Award 2019 presented by Shri Venkaiah Naidu
Vice President Shri M Venkaiah Naidu presented Kalam Innovation in Governance Award 2019, at the third edition of Dr. A.P.J. Abdul Kalam Summit on Innovation and Governance held in New Delhi.

Innovation in Governance Award 2019 presented by Shri Venkaiah Naidui. On this occasion, he also started 75 new Kalam Digital Libraries spread across the country, which will be serving as centers for no-cost digital based learning in schools.
ii. Vice president urged the young generation to research and come up with new ideas and innovations and contribute to the Indian growth story.

APPOINTMENTS & RESIGNS

Ajay Narayan Jha became Member of the 15th Finance Commission
Shri Ajay Narayan Jha joined the 15th Finance Commission as its Member in place of Shri Shaktikanta Das who had resigned as a Member of the Commission after being appointed as Governor of the Reserve Bank of India (RBI).
i. 1982 batch IAS officer of Manipur cadre, he was the Finance Secretary to the Government of India and has also served as Secretary to the 14th Finance Commission, headed by former RBI Governor, Shri Y.V. Reddy.
ii. The 15th Finance Commission was constituted by a Presidential Order in November, 2017 under the Chairmanship of Shri N. K. Singh to decide the formula for devolution of revenue between Centre and States, for a period of 5 years – April, 2020 to March, 2025.

ACQUISITIONS & MERGERS

RBI approved merger of DBS Bank’s Indian unit with its wholly owned local subsidiary, DBS Bank India
The Reserve Bank of India (RBI) approved the merger of DBS Bank Ltd.’s Indian business unit with its wholly owned local subsidiary.
i. DBS Bank’s unit will merge with DBS Bank India with effect from 1st March 2019.
ii. The Singapore-based DBS Bank is the second overseas bank to follow the wholly owned subsidiary model in India after the State Bank of Mauritius.
About DBS Bank
♦ CEO – Piyush Gupta
♦ Headquarters – Singapore

SCIENCE & TECHNOLOGY

IRCTC iPay: IRCTC’s own payment aggregator launched
The Indian Railway Catering and Tourism Corporation (IRCTC) launched its own payment aggregator system, IRCTC iPay, a step which will help promote government’s Digital India initiative.
i. It will provide an improved online digital payment convenience and ease of doing business to passengers availing online travel related services through the IRCTC website.
ii. It provides payment options like credit card, debit card, UPI (Unified Payment Interface), International Card and an option of IRCTC prepaid card cum wallet, auto debit will also be available soon.
iii. The back-end support will be provided by Delhi based MMAD communications, IRCTC’s technology partner.

Rice Knowledge Bank- Assam’ launched under World Bank funded project APART
Rice Knowledge Bank-Assam, which is an agriculture web portal is dedicated to magnify knowledge on rice production technologies and techniques, best production practices and state agriculture facts, was launched under World Bank funded project – Agri-business and Rural Transformation (APART).

‘Rice Knowledge Bank- Assam' launched under World Bank funded project APART'Key points
i. This portal is the repercussion of efforts of Assam Rural Infrastructure and Agricultural Services Society(ARIAS), Assam Agricultural University(AAU) with technical assistance from International Rice Research Institute (IRRI).
ii. The motive behind this is to curtail the gap between research and on-field rice production practices for small-scale farmers in Assam.
About Assam
♦ Capital- Dispur
♦  CM- Sarbananda Sonowal
♦ Governor- JagdishMukhi.

SPORTS

India claimed 8 medals at the Makran Cup boxing tournament in Iran
At the Makran Cup boxing tournament which was held in Chabahar, Iran, Indian boxers collected a rich haul of 8 medals, including one gold, five silver and two bronze to finish their campaign on a high.
Key points
i. Haryana’s Deepak Singh won the only gold for India, beating JaafarNaseri in the (46-49kg) light fly category.
ii. Other Boxers who won silver are P Lalitha Prasad (52kg), Manish Kaushik (60kg), Duryodhan Singh Negi (69kg), Sanjeet (91kg) and Satish Kumar (+91kg).

England Women tour of India 2019 for 3-match WODIs and T20Is
The England women’s cricket team are currently playing the India women’s cricket team in February and March 2019.
i. The tour consists of 3 Women’s One Day Internationals (WODIs), which formed part of the 2017–20 ICC Women’s Championship, and 3 Women’s Twenty20 International (WT20) matches.
ii. India women’s cricket team clinched the 3-match Women’s One-day International (WODI) series against England 2-1.
iii. Smriti Mandhana was named the Player of the Series.

IMPORTANT DAYS

Zero Discrimination day observed on 1st March
Zero Discrimination Day observed on 1st March is an annual worldwide event that promotes diversity and recognizes that everyone counts.Theme- “Act to change laws that Discriminate”.

Zero Discrimination day observed on 1st Marchi. Organizations like the United Nations (UN) actively promote the day with various activities to celebrate everyone’s right to live a full life with dignity regardless of age, gender, sexuality, nationality, ethnicity, skin color, height, weight, profession, education, and beliefs.
ii. The UN first celebrated the day on 1st March, 2014, after UNAIDS, a UN program on human immunodeficiency virus (HIV) and Acquired Immune Deficiency Syndrome (AIDS), launched its Zero Discrimination Campaign on World AIDS Day on 1st December 2013.
iii. Butterfly is the symbol for Zero Discrimination Day and is widely used by people to share their stories and photos as a way to end discrimination and work towards positive transformation.