Daily Current Affairs: February 28, 2017

Current Affairs February 28, 2017


India, World Bank sign USD 63 million agreement for ‘Tejaswini’

The World Bank has signed a financing agreement for IDA credit of USD 63 million (equivalent) for ‘Tejaswini’, which is a socio-economic empowerment of adolescent girls and young women project.

  • The project seeks to empower the adolescent girls with basic life skills and thereafter provide further opportunities to acquire market driven skill training or completion of secondary education, depending on the inclination of the beneficiary.

RBI sets up panel to review cyber threats

The Reserve Bank of India has announced the setting up of an Inter-disciplinary Standing Committee on Cyber Security. The 11 member committee which will be chaired by RBI ED Meena Hemchandra has been entrusted to review the threats emerging form use of technology, study adoption of new technology standards and suggest appropriate policy interventions to strengthen cyber security and resilience.

SIDBI, CSFB pact to help MSMEs avail loans at cheaper rate

Lender to small industries SIDBI today signed an agreement whereby it will handhold the Capital Small Finance Bank (CSFB) to enable it to provide loans at a concessional rate to MSMEs.

  • The Memorandum of Understanding signed between the Small Industries Development Bank of India (SIDBI) and CSFB is aimed at promoting and strengthening the micro, small and medium enterprises (MSMEs) through a multi-pronged strategy comprising of concessional funding at MCLR of CSFB (presently 9.6%t) under refinance from SIDBI.

American Express launches ‘Buyer Initiated Payments’ to eliminate cheque, draft payments

Global leader in payment solutions American Express has announced the launch of Buyer Initiated Payments (BIP), an electronic payment platform linked to corporate card that reduces processing costs and offers extended payment terms compared to traditional invoice payments.

OECD Projects 7% GDP Growth For Current Next Two Fiscals

The Organisation for Economic Co-operation and Development, OECD has put India’s GDP growth at 7 percent for the current fiscal, 7.3 for the next and 7.7 percent for 2018-19.

OECD signs MoU with CII for policy research

The Organisation for Economic Cooperation and Development (OECD) and Confederation of Indian Industry (CII) have announced signing of an MoU with a mission to promote policies that will improve the economic and social well-being of people around the world.

  • It’s the first MoU for the OECD with an industry body like CII. OECD is an intergovernmental organization.

MEITY to promote digital transactions in place of NITI

The government has shifted the responsibility of promoting digital transactions in the country to the Ministry of IT and Electronics (MEITY) from NITI Aayog.

  • NITI Aayog — which is a think-tank — should focus on monitoring and suggesting ways to improve various government schemes rather than getting involved with implementation.

Madras HC orders TN govt to enact law on removal of seemai karuvelam trees

The Madurai bench of the Madras high court directed the Tamil Nadu government to enact a law with prohibitory and penal clauses within two months to eradicate seemai karuvelam trees (prosopis juliflora).

  • The seemai karuvelam tree that sucks a lot of water has invaded into water bodies and dry lands of government and private people. Since such trees ultimately affect the agricultural activities, a batch of cases for their eradication was filed before the high court bench.

Nagaland tops IT, e-Governance sector

The Computer Society of India (CSI)-Nihilent declared Nagaland as a top performing state from among the northeastern states in Information Technology and e-Governance sector for 2015 and 2016.

  • With this award, Nagaland is now ranked top in the country in the e-District Mission Mode Project along with Gujarat, Haryana, Madhya Pradesh, Punjab, Uttar Pradesh and West Bengal.

Thiruvananthapuram ranked first in survey of cities

In an annual survey of major cities conducted by Janaagraha, a Bengaluru-based organisation, Thiruvananthapuram in Kerala was ranked the best city for the second year in a row.

  • Pune came in at second, up two ranks over 2015 and Kolkata, third, same as 2015.

Cisco, Reliance Jio to build largest all-IP services platform

Reliance Jio has announced a collaboration with networking giant Cisco to further expand Jios existing multi-terabit capacity with the first All-IP converged network in India.

  • With this network, Jio will offer a combination of high-speed data, mobile video, VoLTE, digital commerce, media, cloud and payment services, Cisco said in a statement.

Snapdeal launches initiative for GST compliance training

Online marketplace Snapdeal has announced the launch of GST Guru, a program which will include a range of initiatives to help prepare the sellers on its platform for the impending GST reforms, expected to roll out this July.

  • As part of the GST Guru, Snapdeal is offering sellers an exhaustive range of resources to ensure they are up to speed with impending policy changes.
  • The GST 101 series of weekly newsletters offers information around the top areas of concern for sellers, and helps them prepare for the big shift.

PepsiCo to modernise ITIs in Maharashtra

Global beverages giant PepsiCo will help develop skills of workers in different food processing plants in Maharashtra and modernise the Industrial Training Institutes (ITIs) in the state.

Koenig becomes India’s first authorized training provider and channel partner of ISACA

Koenig Solutions, the leading IT training organization serving a global clientele for technical skill development, recently became ISACA Authorized Training Partner.

This means that Koenig Solutions Pvt. Ltd. is now officially authorized to run cyber-security courses to cater to the booming industry.

Rangaswamy 1st woman to get BCCI lifetime achievement award

Former Indian women’s cricketer Shantha Rangaswamy has become the first female cricketer to be nominated for the BCCI Lifetime Achievement Award.

  • Rangaswamy will receive the award at the BCCI Annual Awards 2016-17 on March 8.
  • Rangaswamy was the first Indian women’s cricket team captain and the first woman cricketer to win the Arjuna Award.

Jitu Rai wins Bronze in 10m pistol mixed team event in ISSF World Cup:

In ISSF Shooting World Cup in New Delhi, Jitu Rai bagged a Bronze medal in the 10-metre Air Pistol event. He finished third with a total of 216.7 points.

  • With a world record of 240.1 points, Tomoyuki Matsuda of Japan took the Gold, while the Silver went to Xuan Vinh Hoang of Vietnam.

Tarun Kona and Alwin Francis win Uganda International Series title

The Indian pair of Tarun Kona and Alwin Francis has emerged victorious at the 2017 Uganda International Series in Kampala.

  • The duo, who was top-seeded, put up a convincing performance to beat the second-seeded combine of Aatish Lubah and Georges Julien Paul of Mauritius

PSL to become first T20 league to use DRS

Pakistan Super League (PSL) Chairman Najam Sethi has revealed that the PSL is all set to use the Decision Review System (DRS) in its playoff matches, thus becoming the first T20 league in the history of cricket to use technology.

NU named best ‘Institution for Promoting Industry-academia Interface’ at 10th ASSOCHAM Higher Education Summit 2017

NIIT University (NU) has been recognized as the “Best Institution for promoting industry-academia interface” at the 10th ASSOCHAM Higher Education Summit 2017 held in New Delhi.

  • The summit focused on the role and contribution of universities in building entrepreneurial ecosystems.

Author Neil Gaiman named U.N. Goodwill Ambassador

Author Neil Gaiman has been named a United Nations global goodwill ambassador as he continues efforts to bring attention to the plight of Syrian refugees.

  • UNHCR, the UN Refugee Agency, announced Gaiman’s appointment after three years of working alongside the writer of books that include the modern classics Coraline and American Gods.

Marshall Islands first to ratify greenhouse gas pact

Marshall Islands, a low-lying atoll nation in the Pacific Ocean, became the first country to ratify a 2016 United Nations accord to cut the use of greenhouse gases, saying it will not survive without urgent action to cut emissions globally.

EU member states approve visa-free travel for Georgia

European Union member states approved visa-free travel for Georgia, after agreeing safeguards to prevent any upsurge in arrivals from the former Soviet satellite.



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