NATIONAL NEWS
India attends OIC meet for first time
External affairs minister Sushma Swaraj attended the inaugural plenary session of the 46th meeting of OIC’s Council of Foreign Ministers in Abu Dhabi during March 1-2 at the invitation of her UAE counterpart, Sheikh Abdullah bin Zayed Al Nahyan. She addressed the inaugural plenary session as a guest of honour.
- The Organisation of Islamic Cooperation (OIC) meeting, which has the theme “50 years of Islamic cooperation: the roadmap for prosperity and development” coinciding with the organisation’s 50th anniversary, will discuss challenges facing the Muslim world.
- Extra info.:
OIC Headquarters: Jeddah, Saudi Arabia
Construction Technology India-2019 Expo-Cum-Conference held in Delhi
Prime Minister Narendra Modi will inaugurate the Construction Technology India-2019 Expo-cum-Conference in Delhi. The conference will identify proven, innovative and globally established technologies for use in the Indian context.
- Proven technologies which are identified during CTI - 2019 will be further invited to design and build lighthouse projects of nearly one thousand housing units each at 6 States in the country. These states are Gujarat, Jharkhand, Madhya Pradesh, Tamil Nadu, Tripura and Uttar Pradesh.
India-Bangladesh joint military exercise 'Sampriti 2019' starts in Tangail
As part of the ongoing India Bangladesh defence cooperation, a joint military exercise Sampriti-2019 will be conducted at Tangail, Bangladesh from 2nd March to 15 March. Exercise Sampriti-2019 is an important bilateral defence cooperation endeavour between India and Bangladesh and this will be the eighth edition of the exercise which is hosted alternately by both countries.
- The exercise is aimed to strengthen and broaden the aspects of interoperability and cooperation between the Indian and Bangladesh Armies. The exercise will involve tactical level operations in a counter insurgency and counter terrorism environment under the UN mandate.
AIIB to provide USD 455 mn for Andhra rural roads project
The Asian Infrastructure Investment Bank (AIIB) will provide a loan of USD 455 million to finance the Andhra Pradesh Rural Roads Project, which will connect about 3,300 habitations with a population of more than 250, and benefit around two million people.
- The objective of the project is to improve road transport connectivity in previously unserved communities by providing all-weather rural roads in all 13 districts of Andhra Pradesh.
- Extra info.:
AIIB Headquarters: Beijing
'Mainamati Maitree Exercise 2019' held between BSF and BGB in Tripura
Border Security Force (BSF) and Border Guards Bangladesh (BGB) concluded a three-day ‘Mainamati Maitree Exercise 2019’ as a part of ‘Confidence Building Measures’ between the two border guards. The exercise was named after a hill range situated 8 km west of Comilla township in Bangladesh, which is home to an ancient Buddhist archaeological site in the region.
- The main objective of this exercise was to plan and conduct anti-smuggling and anti-criminal activity related operations with ultimate aim of achieving better joint operational efficiency and border management in the area of responsibility of respective BSF and BGB Battalions participating in the joint exercise.
7th Guiness Book of World Record created by DEPwD in Bharuch, Gujarat
A National Conference on “Deendayal Disabled Rehabilitation Scheme (DDRS)” was inaugurated by the Union Minister of Social Justice & Empowerment Thaawarchand Gehlot. The “7th Guinness Book of World Record” has been created by the Department of Empowerment of Persons with Disabilities (DEPwD), at Bharuch, Gujarat.
- ‘Modern Artificial Limbs (Legs)’ were implanted on 260 Divyang jans within 8 hours in Gujarat. DEPwD has already created 6 World Records in other categories.
NITI Aayog’s Atal Innovation Mission partners with Adobe to enhance creativity in ATL Schools
Government think tank NITI Aayog partnered with software major Adobe to develop creative skills and spread digital literacy among school children in India. The Statement of Intent (SOI) signed by NITI Aayog and Adobe as part of the Atal Innovation Mission will open Digital Disha Programme across 100 schools under the Atal Tinkering Labs (ATL).
- The Digital Disha Programme, which is expected to touch the lives of 1 million students by 2020, is aimed at driving synergies in creative thinking and technology-based learning.
BANKING & FINANCE
DCB Bank launches Open Banking for gen-next banking solutions
DCB Bank announced the launch of its Open Banking Platform, a significant step towards creating a collaborative ecosystem with enterprises, fintechs and app developers, and enhancing customer-service delivery. The Open Banking Platform APIs will provide seamless integration of banking services by improving the existing banking technology infrastructure and at the same time meet the growing demand for innovative solutions from new-age customers.
- DCB Bank runs a global innovation programme DCB Bank Innovation Carnival wherein it nurtures a strong relationship with the fintech and startup ecosystem. The Open Banking Platform will further strengthen this ecosystem and allow fintechs and startups to test their innovations quickly and efficiently.
- Extra info.:
DCB Headquarters: Maharashtra
BUSINESS & ECONOMY
DBS to operate as wholly-owned subsidiary in India
Singaporean lender DBS is set to convert its India operations into a wholly-owned subsidiary, and the transition will have no impact on the services and benefits extended to existing customers. The Asian bank, which presently operates 12 branches in the country as a franchise, incorporated locally as DBS Bank India Ltd on March 1.
- DBS, which was the first bank in India to launch digital-only operations as Digibank in 2016, has already received approval from the Reserve Bank of India for the wholly-owned subsidiary. The bank will be able to bring its "product innovation and technology-led delivery model from across Asia.
- Extra info.:
DBS Headquarters: Singapore
Rice Knowledge Bank launched under World-bank funded Assam Agribusiness & Rural Transformation (APART) project
‘Rice Knowledge Bank - Assam’, an agriculture web portal dedicated to enhancing knowledge on rice production techniques and technologies, best production practices and state agriculture facts, was launched as part of the World Bank funded project- Assam Agri-business and Rural Transformation (APART).
- The portal is the result of efforts of Assam Rural Infrastructure and Agricultural Services Society (ARIAS); Assam Agricultural University (AAU); with technical assistance from International Rice Research Institute (IRRI).
- Extra info.:
IRRI Headquarters: Los Banos, Philippines
IFFCO Tokio launches India's first policy to protect bank locker
IFFCO Tokio General Insurance Company announced the launch of Bank Locker Protector Policy, which is the first policy in the industry to protect the contents of a bank locker such as jewellery and other valuables. The policy offers a cover against various risks including fire, earthquake, burglary, holdup, infidelity by a bank staff or any act of terrorism. Apart from jewellery and valuables, one can also insure important documents kept in a locker as an add-on cover.
- The policy offers seven options of sum insured ranging from Rs 3 lakh to Rs 40 lakh and above. The premium rate is affordable with a cover of Rs 3 lakh available at just Rs 300, which is less than Rs 1 per day.
ADB to lend $926 million for Mumbai metro rail project
Marking its single largest infrastructure loan ever, the Asian Development Bank (ADB) signed a $926 million loan agreement with India to operationalise two lines for the Mumbai metro rail system. It aims to ease the distress of millions of commuters each day and help provide a cleaner and less congested city.
- The Mumbai Metropolitan Region Development Authority (MMRDA) will implement the project and once operational by the end of 2022, an estimated 2 million passengers a day will use the two new lines.
RBI constitutes task force under Usha Thorat on offshore rupee markets
The RBI announced a task force headed by its former deputy governor Usha Thorat to examine issues related to offshore rupee markets and recommend policy measures to ensure stability of the external value of the domestic currency. The eight-member task force will assess the causes behind the development of the offshore rupee market and study the effects of the offshore markets on the rupee exchange rate and market liquidity in the domestic market.
- The central bank further said the panel would be submitting its report by the end of June 2019.
SPORTS
Shashank Shekhar wins 10 km race of Nepal's COAS Open Marathon and Run for Fun in Kathmandu
India's Shashank Shekhar won the 10 kilometre race of Nepal's Chief of Army Staff (COAS) Open Marathon and Run for Fun held in Kathmandu. Shekhar of Central Industrial Security Force (CISF) Contingent at Embassy of India in Kathmandu secured first position.
- RD Murgan also from CISF got third place. A total nine CISF personnel participated in 10 KM race category. The remaining seven personnel also successfully completed run and received Certificate of Achievement.
APPOINTMENTS
BoB appoints Adhia as Non-Executive Chairman
Former Finance Secretary Hasmukh Adhia has been appointed as the Non-Executive Chairman of Bank of Baroda. Adhia is an Indian Administrative Service (lAS) officer of the 1981 batch belonging to Gujarat who served as Finance Secretary and Revenue Secretary.
- Adhia's appointment as Non-Executive Chairman is effective from March 1, and comes as a merger is underway between Bank of Baroda, Dena Bank and Vijaya Bank.
Ravneet Gill takes charge as Yes Bank MD-CEO
Ravneet Gill joined Yes Bank as its Managing Director (MD) and Chief Executive Officer (CEO). His tenure as approved by the Reserve Bank of India is of 3 years.
- Ajai Kumar has ceased to be an Interim MD and CEO. However, he continues as a non-executive non-independent director on the board. With this, the bank's new composition of the board of directors has 10 members.
OBITUARIES
Russian Nobel laureate Zhores Alferov passes away
Russian scientist Zhores I. Alferov who won the Nobel Prize in physics for his work in semi-conductor and laser technologies passed away at the age of 88 in St. Petersburg.
- Alferov was the first Russian to become a Nobel laureate since Soviet leader Mikhail Gorbachev won the Peace Prize in 1990.
IMPORTANT DAYS
Zero Discrimination Day
Zero Discrimination Day is observed on March 1 and it aims to address the issue of discrimination faced by people across the world. The day further intend to achieve equality before law throughout all member countries of the UN. The theme for Zero Discrimination Day 2019 is 'Act to change laws that Discriminate'.
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