IIT-Kharagpur to get supercomputing facility:
The Indian Institute of Technology, Kharagpur, is the first academic institution to get a supercomputing facility under the National Supercomputing Mission (NSM). This will provide large computational support to users to carry out both research and teaching activities that involve modern High Performance Computing (HPC).
IIT Madras and Tanstia inks pact:
Tanstia–FNF service centre have signed an MoU for technology transfer of water treatment analysis kits designed to treat drinking water mainly in rural areas. The research at IIT-Madras for developing the filter and the kit will be funded by International development Research centre, Canada.
India, Pak. to review Miyar project:
India and Pakistan agreed on redesigning the Miyar Hydroelectric project, at the end of two-day talks of Indus Water Commissioners in Islamabad, the state-run media reported. It was also agreed that the Lower Kalnai and the Pakal Dul projects would be inspected again. The Pakistani delegation was headed by Mirza Asif Saeed while P.K. Saxena led the Indian team.
Taiwan’s Prez launched island’s first submarine:
Taiwan government announces plan to build its own submarines. President Tsai Ing-wen launched the island’s first every home-built submarine project to protect against growing military threats from China. The move comes after China sent its only aircraft carrier through the Taiwan Strait in January, in one of a number of military drills held as relations deteriorate.
BANKING & BUSINESS
Cash transaction limit slashed to Rs.2 lakh:
Cash transactions above Rs.2 lakh could be illegal and attract a 100% fine from April 1 this year. The Rs.3 lakh ceiling on cash transactions this year, proposed in the Union Budget 2017-18, has been revised to Rs.2 lakh, with the government introducing an amendment to this effect in the Finance Bill taken up for consideration by the Lok Sabha.
India slips in human development index:
India slipped down one place from 130 to 131
among the 188 countries
ranked in terms of human development, says the 2016 Human Development Report (HDR)
released by the United Nations Development Programme (UNDP)
India’s human development index (HDI) value of 0.624 puts it in the “medium human development” category. It is ranked third among the SAARC countries, behind Sri Lanka (73) and the Maldives (105), both of which figure in the “high human development” category. The world’s top three countries in HDI are Norway (0.949), Australia (0.939) and Switzerland (0.939).
Government hikes FDI on Insurance Broking:
The government plans to hike FDI in “Insurance Broking” from 49% to 100% to provide necessary impetus to the sector and also to attract more funds. But the Department of Industrial Promotion restricts additional FDI in insurance broking. It is a ‘win-win situation’ for the insurance firms to make decisions.
‘ARISE’ – Skill Development Programme by Nasscom:
Nasscom in association with Aricent launched ARISE, a skill employability programme. ARISE aims at equipping students from tier 2 and 3 engineering colleges with job skills. It will impart skills concerning computer program. It is a tailor-made program for engineers, who want to join the IT industry. The programme is being executed in coordination with MindMap and Centum Learning.
ABB India bags award for restoring 1,035 MW Sharavathi plant in Karnataka:
ABB India has restored and modernised the critical 1,035 MW Sharavathi hydropower plant in Karnataka that accounts for 25 per cent of Karnataka Power Corporation’s generation. ABB’s future-ready technologies enabling the Industrial Internet of Things (IIoT) and aligns with the government’s push for 24×7 reliable power for all with focus on smart power infrastructure and digitalisation. The ABB team, with support from KPCL management, helped restore the entire plant – comprising 10 units – in just six months.
Russia’s VTB bank to shut India office:
Russian bank VTB has decided to close its only office in India to cut costs but will continue to work in India. We will continue to work on the Indian market, expanding our cooperation with local partners, said by the bank.
Air-Asia Ankur Khanna appointed in ICC:
Ex-Air-Asia CFO appointed as the CFO of International Cricket Council. Ankur Khanna will take charge in the Heaquarters of ICC in Dubai.
HISTORICAL EVENTS OF THE DAY
March 22nd – “World Water Day”
World Water Day is held annually on 22nd March as a means of focusing attention on the importance of freshwater and advocating for the sustainable management of freshwater resources. Theme for the year 2017 is “Wastewater”.
Neeraj shoots gold:
Neeraj Kumar shot 576 and beat Olympian Gurpreet Singh by four points for the gold in men’s standard pistol in the 11th Sardar Sajjan Singh Sethi Masters shooting championship at the Dr. Karni Singh Range, Tughlakabad.
Philanthropist David Rockefeller dead:
David Rockefeller, the billionaire businessman and philanthropist who was the last in his generation of one of U.S.’s most famously philanthropic families, died. He was 101.
IRA veteran McGuinness dead:
Martin McGuinness, the Irish Republican Army (IRA) commander who laid down his arms to become a key architect of Northern Ireland’s peace, died at the aged 66, prompting tributes from allies and former enemies alike.