Daily Current Affairs: March 02, 2017

Current Affairs March 02, 2017

R Subramania Kumar to hold addl charge of MD and CEO, IOB


RBI asks Financial Literacy Centres to hold special camps on going digital

The Reserve Bank of India has advised bank-operated Financial Literacy Centres to conduct special camps for one year beginning April 1, 2017 on “going digital” through Unified Payments Interface and the *99# service, in view of the government’s emphasis on increasing digital transactions post-demonetisation.


Banks to levy Rs 150 after four cash tansactions

Some banks, including HDFC Bank, have begun charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

  • The new charges would apply to savings as well as salary accounts.
  • The third party limit would be Rs 50,000 per day.
  • These charges are for cash transactions in the branches, and not through ATMs.
  • For the basic no-frills accounts, maximum four cash withdrawals would continue to remain free and there would be no fees for cash deposits.
  • ATM intercharge charges have also been re-introduced.

HDFC Life ties-up with ET Money to launch data-led policy

HDFC Life has announced the launch of an exclusive data-led group term insurance plan in partnership with ET Money, the Times Internet backed financial services app.

  • This is the country’s first term insurance plan based on the spend pattern of the users, the private insurer said in a release.

Possession of more than 10 defunct notes will now attract fine

President Pranab Mukherjee is understood to have given his assent to the Specified Bank Notes (Cessation of Liability) Bill, 2017, which now makes it a crime to hold more than 10 of the defunct currency notes.

  • Violation of the law will invite a fine of Rs 10,000 or five times the amount of the face value of the specified bank notes involved in the contravention, whichever is higher.

Indian economy projected to grow by over 7.5% this FY: Prez

President Pranab Mukherjee said that the Indian economy was projected to grow by more than 7.5 per cent in the current financial year.


Core sector growth slows down to 3.4% in January

Data showed the core sector slowed to 3.4% in the month compared with 5.7% in the year-ago period. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity that make up the index have a 38% weight in the Index of Industrial Production (IIP).


Nasscom sees FY18 industry growth at 8-10%

Software services industry lobby Nasscom has said that it expects the sector to grow at 8-10 per cent next financial year but added that a clearer picture will emerge only over the next two to three months.


Swachhta Pakhwada being observed by the Ministry of Women & Child Development throughout the country

The Ministry of Women & Child Development is observing the Swachhta Pakhwada from 1st March 2017 to 15th March 2017, to raise awareness about Swachh Bharat Abhiyan among women and children.

  • The Swachhta Pakhwada is observed by various Ministries of Government of India to achieve the goal of universal sanitation, hygiene and ‘open defecation free’ India by 2019.

Digital Government Research Centre launched in Patna

The Central government has launched a Digital Government Research Centre (DGRC) in Patna, Bihar which will focus on developing tools and technology for digital government initiatives.

  • DGRC is being established at STPI Campus in Patna.

Maharashtra seeks investment from Abu Dhabi in infra projects

The Maharashtra Government and Abu Dhabi Investment Authority will set up a joint task force to explore and facilitate investment in key infrastructure projects in the State.


Telangana releases Rs 210 cr under Constituency Development Fund

The Telangana government has released an amount of Rs 210 crore under the ‘Constituency Development Fund’ of MLAs and MLCs.

  • Under the released amount, Rs 1.5 crore would be given per MLA or MLC for taking up development works.

Gopal Baglay assumes charge as new MEA spokesperson

Gopal Baglay, who headed the Ministry of External Affairs (MEA) division dealing with Pakistan assumed charge as Ministry spokesperson.

  • He has replaced Vikas Swarup, who has been appointed envoy to Canada.

Nand Kumar Sai assumes charge as Chairman of National Commission for Scheduled Tribes

Senior tribal leader from Chhattisgarh and ex parliamentarian Shri Nand Kuamr Sai assumed charge as the chairman of National Commission for Scheduled Tribes (NCST)


Ajay Tyagi takes charge as Sebi Chairman

Senior IAS officer Ajay Tyagi took charge as the Chairman of the markets regulator, Securities and Exchange Board of India (Sebi).

  • He is the ninth Chairman of the Sebi and has taken over from U K Sinha, who completed his six-year tenure.

J S Deepak named next ambassador to WTO

Telecom Secretary J S Deepak was named India’s next Ambassador to the World Trade Organisation (WTO) from June this year.


Government bans BBC to shoot in Indian Tiger Reserves for 5 years

Miffed by an allegedly ‘dramatised’ documentary created by BBC on Assam’s Kaziranga National Park (KNP), the Indian government has barred the global news agency from shooting in any of its 50 tiger reserves for a period of five years.


Bachchan, Mary Kom in social media campaign on gender equality

Bollywood star Amitabh Bachchan, boxer Mary Kom and women scientists from ISRO have supported the government’s social media campaign on gender equality.

  • The Maneka Gandhi-led Women and Child Development Ministry initiated its #WeAreEqual campaign on Twitter which has received 2.6 crore tweets since its launch last month.

MobiKwik envisioning USD 1 billion GMV from West Bengal

Indian mobile wallet major, MobiKwik has announced the opening of its office in Kolkata.

  • This is MobiKwik’s fourth office and it’s first in the eastern region. Headquartered in Gurugram, MobiKwik already has begun operations in Mumbai and Pune.
  • To support its business ambition, MobiKwik recently launched Supercash, a loyalty initiative that is aimed at promoting digital payments among its users and promises benefits on every transaction.
  • Supercash is the first ever loyalty initiative launched by a mobile wallet in India.

JNU wins Visitor’s Awards’17 for best university

Jawaharlal Nehru University (JNU) has won the annual Visitor’s Award for the ‘Best University’, 2017.

  • The ‘Best University’ will receive a Citation and Trophy while winners of Visitor’s Award for ‘Innovation’ and ‘Research’ will receive a Citation and cash award of Rs. one lakh.

Snapdeal, Truecaller partner to make your shopping experience frictionless

India’s largest online marketplace Snapdeal has partnered with Truecaller, one of the leading communication apps in the world to enhance consumer experience by integrating Truecaller Priority in the company’s IVR and order confirmation numbers.

  • Customers with Truecaller app installed on their mobiles will be able to easily identify and filter IVR or delivery verification calls when shopping on Snapdeal.

Campco in pact with IISR for pepper certification

The Mangaluru-based Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd, which is planning to market pepper in the retail segment, has inked an agreement with an ICAR (Indian Council of Agricultural Research) agency for quality certification.


Supersonic Interceptor Missile Successfully Test-Fired In Odisha

India successfully test-fired an indigenously developed supersonic interceptor missile, “Advanced Air Defence (AAD) missile” which is capable of destroying incoming enemy ballistic missile at low altitudes.


Indian Navy successfully launches AntiShip missile

The Indian Navy has successfully conducted the maiden firing of an AntiShip missile from first of the indigenously built Kalvari class submarines, during test firing in the Arabian Sea.


DRDO hands over weapon locating radar to Army

The Defence Research and Development Organisation (DRDO) has handed over its weapon locating radar ‘Swati’ to the Indian Army.

  • The Indian Army has at present ordered 30 such radars.
  • The weapon-locating radar developed by the DRDO’s Electronic and Radar Development Establishment provides fast and accurate location of enemy artillery including shells, mortars and rockets.

West Indies cricketer Dwayne Smith announces retirement


Tibetan women’s football team denied US visa

A 16-member Tibetan women’s football team has been denied US visas to participate in a tournament in Texas.


Malaysia to cancel visa-free entry for N.Koreans

Malaysia will cancel visa-free entry for North Koreans, Deputy Prime Minister Ahmad Zahid Hamidi announced, citing security reasons.


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