DAILY CURRENT AFFAIRS: MARCH 7, 2019 -

DAILY CURRENT AFFAIRS: MARCH 7, 2019

Dear Aspirants,

Daily Current Affairs (March 7, 2019) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK and Financial Awareness sections. Remember, Banking Awareness and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

NATIONAL

Govt approves Rs 2,790-cr interest subvention on loans to sugar mills :

The Cabinet Committee on Economic Affairs (CCEA) approved Rs 2,790-crore interest subvention for extending loans by banks to sugar mills.This is in addition to Rs 1,332 crore already approved by the CCEA in June 2018.
The interest subvention is for extending loans of Rs 12,900 crore by banks to sugar mills under the scheme for extending financial assistance to sugar mills for enhancement and augmentation of ethanol production capacity.
The project shall help in meeting peaking demand of energy, balancing and ramping requirement of the grid.

Govt to roll out 12-edged Rs 20 coin for the first time :

The Centre announced a new Rs 20 coin which will come in 12-edged polygon (dodecagon) shape.The new coin will be two-toned and have a diameter of 27 mm, similar to Rs 10 coin.The outer ring of Rs 20 coin will be 65 percent copper, 15 percent zinc and 20 per nickel, the inner disc will be 75 percent copper, 20 percent zinc and five percent nickel.
The face of the coin shall bear the Lion Capitol of Ashoka Pillar with the legend “Satyamev Jayate” inscribed below, flanked on the left periphery with the word “Bharat” in Hindi and on the right periphery with the word “INDIA” in English.

Home Minister Rajnath Singh inaugurates BOLD-QIT project in Assam :

BOLD-QIT which is Border Electronically Dominated QRT Interception Technique was inaugurated by Home Minister Rajnath Singh on 61 km India-Bangladesh border in Dhubri, Assam to deal with the problem of border safeguarding in the areas where border fences can’t be constructed due to Brahmaputra river.
The project was brought to life by Information and Technology Wing of BSF(Border Security Force) under Comprehensive Integrated Border Management system(CIBMS).

STATIC: Assam

Capital : Dispur

Chief Minister : Sarbananda Sonowal

Governor : Jagdish Mukhi

INTERNATIONAL

Malaysia joins International Criminal Court :

Malaysia has become a member of the International Criminal Court which becomes the 124th member of the court since its establishment in 2002.The ICC aims to prosecute the worst abuses when national courts are unable or unwilling.
But the tribunal in The Hague has come under fire over high-profile acquittals, while Burundi became the first country to quit the court in 2017 and the Philippines has announced its intention to withdraw.

Gurugram became world’s most polluted city in 2018 :

Gurugram in the National Capital Region (NCR) emerged as the most polluted region in the world in 2018 as per 2018 World Air Quality Report.
As per the report, Delhi is the most polluted capital in the world. In the list of polluted cities, Delhi ranked 11^th and the only non-Indian city in the top five is Pakistan’s Faisalabad.
Bangladesh became the most polluted country closely followed by Pakistan and India while Iceland, Finland, Australia, Estonia and Sweden were among the least polluted countries.

The 12-day long Aerial Exercise Red Flag 2019 began in US :

Red Flag 2019, the 12-day long advanced aerial combat training exercise held several times a year by the US Air Force, has been initiated at Nellis Air Force Base, Nevada, United States.
Air forces from United States, the United Arab Emirates, Belgium, the Netherlands, Singapore and Saudi Arabia are participating in it.
It aims to provide air forces of different countries experience of multiple, intensive air combat attacks in the safety of training environment.

BANKING & ECONOMY

Global economic growth forecasts cut again by OECD

The Organisation for Economic Co-operation and Development, OECD, has again cut its 2019 forecast for global economic growth due to ongoing trade tensions and Brexit uncertainty.
The Organisation for Economic Co-Operation & Development forecast in its interim outlook report that the world economy would grow 3.3 percent in 2019 and 3.4 percent in 2020.
Those forecasts represented cuts of 0.2 percentage points for 2019 and 0.1 percentage points for 2020, compared to the OECD’s last set of forecasts in November.

IRDAI, NHA form joint working group on Ayushman Bharat :

The Insurance Regulatory and Development Authority of India (IRDAI) and the National Health Authority (NHA) have formed a working group on the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to be chaired by Dinesh Arora.
In six months, it will submit a report on how to detect and deter fraud through a common repository and capacity-building.

STATIC : IRDAI

Headquarters: Hyderabad

Chairperson of IRDAI: Subhash Chandra Khuntia

United Bank of India signs Bancassurance deal with HDFC Life :

United Bank of India one of India’s premier Nationalized Banks signed a Bancassurance deal with HDFC Life Insurance Company to improve the overall business of both organizations.
This partnership, United Bank’s customers will be able to take advantage of HDFC Life’s expertise in life insurance products, distribution and customer service.
United Bank has a strong presence in rural and semi-urban areas, with over 2,000 branches and offices, while HDFC Life is India’s largest non-bank-promoted private life insurer.

STATIC : United Bank of India

Headquarters : Kolkata

CEO: Ashok Kumar Pradhan

NGT Slaps ₹ 500 Crore Fine On Volkswagen India For Use Of Cheat Device :

The National Green Tribunal slapped a fine of Rs 500 crore on German auto major Volkswagen for damaging the environment through the use of “cheat device” in its diesel cars in India.
A bench headed by NGT chairperson Justice Adarsh Kumar Goel directed the carmaker to deposit the amount within two months. The tribunal enhanced the compensation amount of ₹ 171.34 crore, which was recommended by a NGT- appointed committee, as a means of “creating deterrence”.

Google Launches Bolo App to Tutor Children to Read Hindi, English :

Tech giant Google launched a free app called “Bolo” to help primary grade children improve their Hindi and English reading skills.The free app, which is being launched in India first, uses Google’s speech recognition and text-to-speech technology.
The app is designed to work offline and comes with a built-in reading buddy, “Diya”, who encourages, aids, explains, and corrects the child, as they read aloud.

India signs Loan Agreement with the World Bank for USD 96 Million for Additional Financing for Recovery Project :

The World Bank, Government of India and Government of Uttarakhand (GoUK) signed a $96 Million Loan Agreement to provide additional funds to the State of Uttarakhand in its Uttarakhand Disaster Recovery Project, ongoing since the floods of 2013, as well as strengthen its capacity for Disaster Risk Management.
The additional financing of $96 million will further help in the reconstruction of bridges, road and river bank protection works, and in the construction of a training facility for the State Disaster Response Force (SDRF).

IDBI Bank gets govt nod to handle import and export transactions with Iran :

The government has given a nod to the IDBI Bank to handle import and export transactions with Iran. This has been done to boost the trade between India and Iran amidst US sanctions on Iran.
Bilateral trade between India and Iran increased to USD 13.8 billion in 2017-18 from USD 12.9 billion in the previous fiscal.

STATIC: Iran

Capital: Tehran

Currency: Iranian Rial

President: Hassan Rouhani

IMPORTANT DAYS

March 1, 2019 observed as World civil defence day :

Every Year World Civil Defence Day is observed on 1^st March, all over the world. The theme of this year’s World Civil Defence Day was “Children’s safety, our responsibility”.