Current Affairs 1 March 2017 – Celebration of 25 years of India-Israel Diplomatic Relations in New Delhi:

NATIONAL AFFAIRS

India’s Radhanagar Beach among World’s Top 10:

Radhanagar beach on Havelock Island in the Andamans has been ranked the world’s 8th best in TripAdvisor’s ‘World’s Travellers Choice Award-Winning Beaches’. The beach has also secured the first spot in Asia. The Baia do Sancho beach in Brazil has topped the list.

Thiruvananthapuram ranked best in Urban Governance:

Thiruvananthapuram has been ranked first among the 21 Indian cities that were tested on urban governance parameters, according to the latest survey by Janaagraha Centre for Citizenship and Democracy. Pune and Kolkata were respectively ranked second and third in the survey. Chandigarh was ranked the lowest.

Celebration of 25 years of India-Israel Diplomatic Relations in New Delhi:

 India and Israel celebrated 25 years of establishment of their diplomatic relations. The two nations established the diplomatic relations in 1992. India and Israel have been cooperating in many areas like defence, agriculture, science and technology, education, dairy, innovation among others.
 Israel is also a major contributor of defence technology to India. India imports Israeli defence equipment, including missiles, drones, radars and other critical military components.
Israel:

• Capital: Jerusalem
• Currency: Israeli new shekel
• President: Reuven Rivlin
• Prime minister: Benjamin Netanyahu

India’s first integrated heliport launched in New Delhi:

Civil Aviation minister Gajapathi Raju inaugurated the India’s first integrated heliport .The commencement of services from the heliport would also reduce congestion at the Delhi airport. This is the first of its kind facility in South Asia, which has been built by Pawan Hans Ltd. 

The newly developed heliport has been built over an area of 25 acres with a total investment of Rs. 100 crore. The heliport consists of a terminal building having a capacity of 150 passengers, 4 hangars with the parking capacity of 16 helicopters and 9 parking bays.

Mumbai’s iconic red buses to turn white and yellow:

Two BEST with ‘white-and-yellow’ colour scheme will hit the roads from March-end on trial basis, BEST committee panel members demanded that there should be no change in the iconic red colour of the vehicles. The committee cleared a proposal for providing free WiFi on buses by Diwali. The facility is expected to provide commuters with the “estimated time of arrival” of buses at stops.

Britannia- Chipita JV to start production in Tamil Nadu:

The first manufacturing line under the Britannia-Chipita joint venture is set to begin production in Tamil Nadu from early next year. This would entail an investment of about Rs.90 crore. “The new line of products that will emerge from the JV will not be an extension of the existing brand portfolio, but will be branded separately”.

INTERNATIONAL AFFAIRS

India, Oman to hold counter-terror exercises:

Oman are scheduled to conduct their second bilateral exercise, Al Nagah-II 2017, in March with a focus on counter-terrorism. India has been deepening its defence cooperation with the region. During the visit Chief of the Naval Staff, Admiral Sunil Lanba, to Oman and the UAE. The exercise would be held in the Dhauladhar Ranges at Bakloh in Himachal Pradesh from March 6 to 19.

China lifted 12 million people out of poverty in 2016

China has lifted 12.4 million people out of poverty last year, Su Guoxia, spokesperson with the State Council Leading Group Office of Poverty Alleviation and Development said. China’s financial institutions issued 818.1 billion yuan of loans to aid the anti-poverty drive, and outstanding loans now stand at 2.49 trillion yuan. To meet its goal of eradicating poverty by 2020, China has to lift 10 million people out of poverty every year till 2020.

BANKING & BUSINESS

Govt wants all bank accounts internet-enabled by March 31:

The Union ministry of electronics and information technology wants all bank accounts to be internet-enabled by March 31 after seeing the ‘phenomenal success’ of the Bharat Interface for Money (BHIM) app. A third of all bank accounts aren’t linked to the internet yet. “The IT ministry is looking to ensure all citizens have means to access digital payments.

Cisco help Reliance Jio build world’s largest All-IP digital services platform: 

Reliance Jio Infocomm (Jio) has partnered with Cisco to further expand its Jio platform with existing multi-terabit capacity into a first All-IP converged network.
With this network, Jio offers a unique combination of high-speed data, mobile video, VoLTE, digital commerce, media, cloud, and payment services. It is the first network of its kind globally with the fastest growth to 100 million broadband and VoLTE customers, reaching the milestone within six months of launch.

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

Lender to small industries SIDBI 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.

This MoU will envisages joint financing/co-financing of MSMEs for capital expenditure under ‘SIDBI Make in India Soft Loan Fund for Micro, Small & Medium Enterprises’, popularly known as SMILE at a concessional rate of 9.60 per cent by SIDBI.

GIFT City partners with Dubai International Financial Centre for expertise in fields of banking and financial services:

GIFT City has signed a pact with Dubai International Financial Centre. This will enable both organisations to “share exchange of information on banking, financial service and securities, legislation and regulation, cooperation in the area of training, assistance in organising seminars and conferences on selected issues enhancing mutual development of the centres”.

Canara HSBC OBC Life Insurance launches iSelect term plan:

Canara HSBC Oriental Bank of Commerce Life Insurance expanded its online product suit with the launch of iSelect term plan meant for family protection.

“Our iSelect Term Plan is a pure protection online term plan that provides life insurance cover along with the option to cover against accidental death/ disability,” said by Anuj Mathur, Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company.

GDP growth pegged at 7.1%, belying demonetisation drag:

The Central Statistics Office (CSO) has kept its January estimate for growth in gross domestic product (GDP) in 2016-17 unchanged at 7.1%, signalling that independent economic forecasters may have overstated the drag on the economy from the November withdrawal of high-value currency notes.

The CSO, which released its second advance estimates of economic growth, also provided GDP and Gross Value Added (GVA) figures for the third quarter, which showed GDP growth slowing to 7%, from 7.3% in the second quarter of the financial year.

OECD cuts 2016-17 GDP growth forecast to 7%:

The Organisation for Economic Cooperation and Development (OECD) cut its growth projection for India in 2016-17 to 7% from the 7.4% it had projected last year. The OECD, in its Economic Survey of India 2017 report, forecast a growth rate of 7.3% for 2017-18 and 7.7% for 2018-19.

L&T arm signs five-year pact with Shell Global: 

L&T Hydrocarbon Engineering (LTHE) has signed a five-year Enterprise Framework Agreement with Shell Global Solutions International B.V, for providing engineering, procurement and construction management services for Shell projects in Middle East, South-East Asia and India.

Reliance Jio collaborate with Samsung to improve its 4G services in India:

Mukesh Ambani led Reliance Jio has collaborated with electronics giant Samsung to further improve its quality of LTE (4G) services in India, including wider coverage and revved-up network speeds.

The joint project, I&G (Infill & Growth) Project, was established to upgrade current LTE mobile communication services across India by expanding both the current network capacity as well as network coverage.

Flipkart valuation slashed to $5.37Bn by investor Morgan Stanley:

India’slargest e-commerce marketplace Flipkart has witnessed yet another markdown from one of its largest mutual fund investor Morgan Stanley, pegging the valuation of Flipkart at $5.37 billion.

This is the fifth consecutive markdown by Morgan Stanley in India’s most valuable startup, albeit a small one as compared to a 38.2% markdown in September 2016.

Goods and Services Tax (GST) will be implemented from July 1, 2017:

Goods and Services Tax (GST) will be implemented from July 1, 2017. GST will be a reality soon as all states were on board and this, in turn, will unleash the growth potential of the economy. The GST, which will replace a myriad of consumption taxes, could be a “game-changer” over the medium term as it would reduce tax cascading and boost India’s competitiveness, investment and job creation.

“GST is going to unleash a huge quantum of growth impulses. The effect will be felt and once India becomes one market, there will be positive impact on growth impulses”.

AWARDS & ACHIEVEMENTS

81-year-old Japanese woman launches her first app for iPhone:

Japan’s Masako Wakamiya has created her first app for iPhone at the age of 81, after starting to use computers at the age of 60. The ‘Hinadan’ app teaches people the proper way of staging their traditional doll displays for the festival. 

APPOINTMENTS & RESIGNS

Marijne Sjoerd appointed as the India’s Hockey Women Team Coach: 

Hockey India officially confirmed Dutchman Marijne Sjoerd as the new women’s coach, succeeding Neil Hawgood in the role for a period of four years.

Lt General Bobby Mathews retires:

Officers training Academy commandant Lt. General Bobby Mathews retired after serving the armed forces for close to 40 years. Commissioned into 2 KUMAON in 1978, he was an alumnus of National Defence Academy, Khadakwasla.

SCIENCE & TECHNOLOGY

Scientists find evidence of a ‘Star Wars’ planetary system:

Scientists have for the first time found evidence of a Tatooine-like rocky planetary system in the Star Wars series about 1,000 light-years away. The system called SDSS 1557 consists of the remains of shattered asteroids orbiting a double sun consisting of a white dwarf and a brown dwarf, researchers said. The discovery led by researchers at University College London (UCL) in the UK.

A Giant Neuron has been found Wrapped around the Entire Circumference of the Brain:

For the first time, scientists have detected a giant neuron wrapped around the entire circumference of a mouse’s brain, and it’s so densely connected across both hemispheres, it could finally explain the origins of consciousness.

Scientists invent super-material that can bend, shape sound:

UK-based scientists have invented a super-material that bends, shapes and focuses sound waves that pass through it, meta-material bricks, that can slow down sound; can be 3D printed and arranged to turn sound waves into a desired sound field, researchers said. The material has applications in the medical industry for focusing ultrasounds and improving loudspeaker technology.

First tourist in space paid Rs.133 crore for the trip:

American businessman Dennis Tito paid Rs.133 crore ($20 million) for an eight-day trip to the International Space Station (ISS) in 2001, becoming the world’s first orbital space tourist. Tito was launched into space aboard a Russian Soyuz spacecraft, owing to a deal brokered by the US-based firm Space Adventures.

Real-time blood monitoring using light for first time

US-based researchers have used light for the first time to monitor a patient’s blood in real-time, to prevent fatal blood clotting during heart surgeries.

The technology uses an optical fibre to beam light through patient’s blood and interprets bounced signals. It can replace blood tests that take up to 10 minutes, proving critical in life and death situations, researchers said.

SPORTS

ISSF Shooting World Cup: Jitu Rai Wins Bronze in 10-Metre Air Pistol:

Jitu Rai won India’s third medal in the ongoing ISSF World Cup in New Delhi when he clinched a Silver medal in the 10-metre air pistol event. Rai, who was languishing towards the bottom of the table in the initial stages of the final, made a late surge to come into medal contention. The Indian shooter scored a total 216.7 points in the event. The gold went Japan’s Tomoyuki Matsuda with a world record total of 240.1 points, while Vietnam’s Xuan Vinh Hoang claimed silver with 236.6 points.

Indian shuttlers win men’s doubles at Uganda International:

Indian shuttlers Tarun Kona and Alwin Francis won the men’s doubles gold at the 2017 Uganda International Series. The duo, who were top-seeded, dropped a game only once in the tournament during their semi-final match. The pair, which is ranked 55 currently, teamed up in 2015 and have won three International Series events together till now.

HISTORICAL EVENTS OF THE DAY

Zero Discrimination Day – MARCH 1:

March 1 is observed as Zero Discrimination Day to create awareness to people from all corners of the world, about the evil consequences of discrimination, to celebrate diversity, and to reject discrimination. The theme of this year’s Zero Discrimination Day is “make some noise”. Raising our voices in solidarity for compassion, diversity, equality, inclusion and tolerance is core to our common humanity. We renew our commitment to achieving a world free of stigma and discrimination and a world where no one is left behind.

OBITUARY

Taarak Mehta, the man who inspired India’s longest running comedy show, passes away: 

Taarak Mehta, the popular Gujarati columnist, humorist and playwright, passed away at the age of 87. The columnist’s most popular work, Duniya Ne Undha Chashma, was adapted to the small screen as Taarak Mehta Ka Ooltah Chashmah on SAB TV.

Former Union Minister P Shivshankar passes away:

Former Union Minister P Shivshankar, an influential Congress leader during the governments of Indira Gandhi and Rajiv Gandhi, passed away in Hyderabad. He was 90. He died due to old age-related health issues, his son Vinay Kumar. Shivshankar served as a judge in the then Andhra Pradesh High Court, but resigned from his job and practised law in the High Court and Supreme Court.