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Current Affairs Today – March 7 2016

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CAT March 7 2016

INDIAN AFFAIRS

Third phase of Gyan sangam to focus on consolidation of banks

The government told that it has started the second edition of Gyan sangam and in the third phase of Gyan sangam it has planned to focus on Consolidation of banks.

  • Gyan Sangam is a retreat for banks and financial Institutions. It was held for the first time last year.
  • State minister of finance, Jayant sinha told that the transformation has to be carried out in phases

Oil Ministry laid out the foundation stone of Octomax unit at Mathura

Union Minister Dharmendra Pradhan laid out the foundation stone for Octomax unit in the oil refinery at Mathura.

  • Octomax unit is the country’s first high octane gasoline production unit
  • It is a part of the oil refinery at Mathura

The Sex ratio has come down in Gujarat placing it at 22nd rank in the Nation

The Sex ratio in Gujarat has fallen significantly from 920 in 2001 to 919 in 2011.It is a fall against the overall 10 points increase in the average of sex ratio of the Nation.

  • The socio-economic review presented in the state assembly revealed that the sex ratio of Gujarat was 919 against the National sex ratio which is 943
  • With 919 females for every 1000 males, Gujarat ranked 22nd among 28 states as per the 2011 Census

River Information System like ATC to Be Launched for Inland Waterways Traffic

Union Government proposes to launch a River Information System (RIS) the system is similar to Air Traffic Control.

River Information System like ATC to Be Launched for Inland Waterways Traffic

  • River Information system is a combination of tracking meteorological equipment with specialised software designed to optimise traffic and transport processes in Inland Navigation.
  • The proposed system to use Swift electronic data transfer between mobile vessels and shore through advance and real-time exchange of information so as to ensure navigation safety in the system.
  • Inland Waterways Authority of India to set up RIS initially in NW1 on ganga river in three phases, namely Haldia-Farakka, Farakka-Patna and Patna- Varanasi.

The proposed route is targeted to operationalize by December 2016. Inland Waterways Authority of India runs under Ministry of Shipping.

Mumbai to host BRICS Friendship Cities Conclave in April

The financial capital of India to host BRICS Friendship Cities Conclave in April involving top Urban Policy makers and Planners from BRICS Nations.

  • A think- tank working to find the solutions for Mumbai Development to make a global financial centre and is inspired by Prime Minister Narendra Modi’s plan to promote cooperation among BRICS Nations.
  • The BRICS Friendship Conclave is a joint initiative of Ministry of External Affairs and Maharashtra Government to be held between April 14 and 16 this year.
  • Top level dignitaries from the BRICS Nations and also from Indian Ministers and Chief Minister of the State will attend the Conclave to be inaugurated by the Prime Minister Narendra Modi.

BRICS Nations:

  • Brazil, Russia, India, China, South Africa
  • 7th BRICS summit held at UFA in Russia
  • India will host the 8th summit this year.

BANKING & FINANCE

Axis bank better placed than ICICI and other PSU Banks

Nomura reports reveal that Axis bank is better placed than ICICI and other public sector bank in terms of corporate book profitability.

  • Global financial services firm Nomura said that the third largest private sector bank in India-Axis bank is better placed than ICICI and other PSU’s in terms of corporate book profitability

Government May Merge 27 Public Sector Banks Into Just Six

Bad Loans in the Public Sector Banks have been a pressing issue for the growth of the economy and in an attempt to address the problem; the Government may look into merging the twenty seven PSBs into just six.

  • Such a move was discussed in the recently held retreat of the chiefs of the PSBs, Gyan Sangam.

BUSINESS

Freecharge Partners With Mexico-Based Movie Theatre Chain Cinepolis

To provide secure and easy digital payments, Freecharge has partnered with Mexico based movie theatre chain Cinepolis.

  • Cinepolis claims to be world’s fourth largest chain of movie theatre.
  • FreeCharge is the first digital wallet partner for Cinepolis
  • The partnership will start in the second week of March
  • Customers can pay for movie tickets and food and beverages across 38 Cinepolis theatres in 28 Cities
  • Movie goers will be able to pay using their registered mobile numbers with FreeCharge at the existing card machine’s available at the payment counter.
  • The transactions will get completed in a secure manner within 10 seconds using the dynamic ‘”On-The-Go-Pin”.

Thomas Cook India inks pact with Western Union, DCB Bank

Travel Solutions giant Thomas cook India has signed pact with Western Union Business Solutions and DCB bank to enable international trade payments by small and medium sized enterprises.

  • This Pact by the Thomas cook to penetrate the high growth Indian SME sector for its international trade payment needs.
  • This move by these companies aims to assist SME’s in India to enable trade payment across borders.

Small and Medium Scale Industries:

  • The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006.
  • A micro enterprise is an enterprise where investment in plant and machinery does not exceed Rs. 25 lakh.
  • A small enterprise is an enterprise where the investment in plant and machinery is more than Rs. 25 lakh but does not exceed Rs. 5 crore
  • A medium enterprise is an enterprise where the investment in plant and machinery is more than Rs.5 crore but does not exceed Rs.10 crore.

AWARDS & RECOGNITIONS

Dr.Amrita Patel awarded with the Mahindra Lifetime Achievement Award

Dr Amrita Patel has been conferred with the Mahindra Samriddi India Agri Lifetime Achievement Aear-Krishi Shiromani Samman in New Delhi.

  • Dr Patel is the current Chairman of Charutar Arogya Mandal

Krutitava Smagra Samman 2015 To Dogri Poetess Padma Sachdev

Well known Dogri Writer and Poetess, Padma Sachdev has been awarded the 2015 Krutitava Smagra Samman. She is being honoured for her outstanding contribution to Dogri Literatureand services to the Dogri Language.

  • First modern woman poet of Dogri language but writes in Hindi as well.

SCIENCE & TECHNOLOGY

Indian Scientists Develop Breakthrough Dengue Drug

Dengue, one of the most deadly diseases caused by mosquitoes, estimated to risk almost 50 per cent of the global population has finally found an enemy- A herbal drug claimed to be developed by Indian Scientists.

The project was undertaken jointly by:

  • The Department of Biotechnology (DBT), under the Ministry of Science and Technology
  • The International Centre for Genetic Engineering
  • Biotechnology (IGCEB) and Ranbaxy Research Laboratory (now owned by Sun Pharma)
  • These organizations employed Ayurveda to come out with the drug.

ENVIRONMENT

New Snake species discovered in Western Ghats

Researchers have discovered a new snake species in the Western Ghats in Kolhapur and Sindhudurg districts. It is a burrowing snake of the Melanophidium genus and belongs to the Uropeltidae family of snakes.

  • The new snake species belong to burrowing category which live mostly underground
  • The snake is named after Pune-based herpetologist Neelimkumar Khaire to pay tribute to his contribution to the knowledge, appreciation and conservation of snakes in India

SPORTS

India win Asia Cup title for sixth time

India win Asia Cup title for sixth time

Indian Team Chased down Bangladesh’s 120/5 in 13.5 overs to win the Asia Cup for the sixth time, the match took place was a miracle , given the amount of rain that lashed Dhaka 90 minutes before start of play.

  • In a rain bound game the Bangladesh posted decent 120/5 in 15 overs, SabbirRahman and Mahmudullah accumulated thirties with some exceptional batting from Mahmudullah at the end.

Novak Djokovic’s first Davis Cup defeat in 5 years

Serbian Novak Djokovic ‘s suffered his first Davis Cup defeatin five years as he trailed Kazakhstan in their World Group first round match on Saturday.

  • The Top seed teamed up with his Serbian teammate Nenad Zimonjic for the doubles match but suffered a tight 6-3, 7-6, 7-5 defeat to AndreyGolubev and Aleksandr.

Anirban Lahiri Finishes 28th at World Golf Championship

  • Indian Golfer Anirban Lahiri surprized to a poor seven-over 79 on a windy day as he dropped sharply from a likely to the top-10 finish to tied-28th at the World Golf Championships. Held at Doral in USA.
  • Lahiri will now take a break and return to India to preserve his Hero Indian Open title. LohiriAfter which he would go back to USA for the PGA Tour and the Masters next month.

The Winner:

  • Australian Golfer Adam Scott recovered from two double bogeys in his first five holes with six birdies the rest of the round to prevail by one stroke over Bubba Watson from the USA who finished second in the tour.
  • The victory was Scott’s second successive win on the PGA Tour, having won The Honda Classicthe week before.

Jindal Panther beats Sona Polo to win Amity Polo Cup trophy

Jindal Panther defeated sona Polo to lift the Amity Polo Cup trophy, Jindal Panther beats Sona Polo by 5/12 goals to 3 in the summit clash.

  • SimranShergill who secured three goals also secured 5 goals in the semifinal that made the team to win the final named as the Most Valuable Player of the tournament.
  • The tournament was played on half league basis with seasoned polo players of handicap +5 and + 6, Amity Group has pledged more such events are in pipeline to help the underprivileged sections of the society.
  • The Organisations flagship initiatives AMITASHA and ATULASHA were helping underprivileged children by providing free education.

OBITUARY

E-Mail Inventor Ray Tomlinson Dies

A few inventions have become integrated with our daily lives in such a way that we just cannot think of doing away with them. Those times have gone when we used to wait for letters for days to hear from our loved ones or receive an appointment letter for a job!

  • Today, sending or receiving every letter is just a click away with the invention of Electronic mail in 1972. Kudos to 74 year old, Mr. Tomlinson Ray who has now left us with this incredible technology! People like him leave the world leaving their legacy behind. They bring the real difference to make the world a better place to live.

American Actress Nancy Reagan died at 94

Nancy Davis Reagan, the veteran American actress and the former First lady of US died at the age of 94 following a cardiac arrest.

  • Nancy Davis Reagan was born on July 6, 1921in Newyork.
  • She was an American actress and the wife of the 40thPresident of the United States, Ronald Reagan.

Malayalam actor Kalabhavan Mani dead

Mani Raman better known for his stage name Kala Bhavan Mani Popular Malayalam actor died at private hospital in Kochi Kerala.The actor was undergoing treatment for liver and kidney related diseases.The Chalakudy Police have registered a case for unnatural death after traces of methanol found in his body.

  • The Actor and Singer has starred in more than 200 films including Malayalam, Tamil and Telugu moviesKalabhavan
  • Comedy was his forte, but he proved that he was not just a comedian with his superb portrayal of a blind singer in Vasanthiyum Lakshmiyum Pinne Njanum, the movie remade in Tamil as Kasi he was a favourite to win both the State and national awards for the best actor.
  • He also made an excellent villain, in films such as Gemini (Tamil). He was a good singer and the folk songs he rendered were extremely popular. His untimely death has dealt another blow to Malayalam cinema in 2016.