NATIONAL NEWS
India signs pact with Russia on Chakra-3 attack submarine
Amid the ongoing tension with Pakistan, India signed a $3.3 billion deal with Russia for leasing the third nuclear-powered Akula class attack submarine. An Inter Governmental Agreement (IGA) was signed between the two countries in New Delhi. The submarine, to be called Chakra -3, will be delivered in 2025 for a 10-year period.
- India at the moment operates Chakra-2 whose 10-year lease ending in 2022. INS Chakra is a nuclear-powered submarine and unlike INS Arihant, the other nuclear submarine in Indian navy fleet.
Government announces new Rs 20 coin
In a first, the government has announced new Rs 20 coin which will be shaped like a 12-edged polygon (dodecagon). The outside diameter of new Rs 20 coin will be 27mm (millimeters) and it will weigh 8.54 grams. Prime Minister Narendra Modi released the new series of "visually impaired friendly circulation" coins (Re 1, Rs 2, Rs 5, Rs 10 and Rs 20). Except for the Rs 20 coin, the rest of the denominations will be round in shape.
- The face of the coin will 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.
Cabinet clears Rs 4,500 cr plan for regional air connectivity
The Cabinet Committee on Economic Affairs has given its approval for extension of time and scope for revival and development of unserved and underserved air strips of state governments, Airports Authority of India (AAI), civil enclaves, central public sector undertakings (CPSUs), helipads and water aerodromes at the total cost of Rs 4,500 crore with the budgetary support of government of India.
- The Ministry said it has received overwhelming response from airlines in the two rounds of the Regional Connectivity Scheme (RCS) bidding held so far.
Hardeep S Puri launches e-Dharti App
Housing and Urban Affairs Minister Hardeep Puri launched e-Dharti app where all the three modules- Conversion, Substitution and Mutation related to properties have been made online. The payment system in Land and Development Office, L&DO has also been completely digitized.
- The public can now submit their applications online by visiting the L&DO website and are not required to visit this office for submission of them and for follow up of their applications. He also launched e-Dharti GeoPortal, through which the lessee of the property will be able to see the basic details of property along with map showing its location.
All trains coming to Delhi to be on electric traction from December 2019: Piyush Goyal
All trains coming to Delhi will be on electric traction by December 2019 said Railway Minister Piyush Goyal. The move will cost the government Rs 12,134 crore. Further, in the next 2.5 years, all mail express trains and Rajdhani trains will have bio-toilets with air vacuum cleaning system similar to that in airplanes.
- The Union Cabinet in September 2018 had approved a proposal for the complete electrification of the Indian Railways in the next four years. Around 650 trains start, end, or pass through Delhi daily, which handles around 12 lakh passengers every day.
MEA opens 500th Passport Seva Kendra
The countrys 500th Passport Kendra has been made operational at Pratapgarh in Rajasthan. The Ministry of External Affairs (MEA), in collaboration with the Department of Posts, had in 2017 taken the initiative to open Passport Kendras at the head post offices/post offices in the country, to be known as "Post Office Passport Seva Kendras" (POPSK).
India's February jobless rate climbed to 7.2%: CMIE
The unemployment rate in India rose to 7.2% in February 2019, the highest since September 2016, and up from 5.9% in February 2018, according to data compiled by the Centre for Monitoring Indian Economy (CMIE). The unemployment rate has climbed despite a fall in the number of job seekers.
- The number of employed persons in India was estimated at 400 million in February compared with 406 million a year ago.
Odisha CM launches 'Mukhya Mantri Karigar Sahayata' scheme
Odisha Chief Minister Naveen Patnaik launched the ‘Mukhya Mantri Karigar Sahayata’ scheme in Bhubaneswar. The state government will provide Rs 800 monthly allowance to craftsmen with over 10 years of experience and annual income below Rs 1 lakh under the ‘Mukhya Mantri Karigar Sahayata’ scheme.
- Likewise, the craftsmen above 80 years will get Rs 1000 each monthly allowance under the scheme.
Delhi Government Launches 'One Delhi' App
To ease the use of public transport in the nation capital, the Delhi government launched a common mobility app 'One Delhi' to allow users plan more efficiently their journey with Delhi Metro and all city buses. The app was developed by Delhi Integrated Multi-Modal Transit System, or DIMTS.
- To make travel easier in Delhi, the app allows users to access all bus stops, bus and metro routes, fares, expected time of arrival (ETA) of buses and metro.
Assam sets up North East Skill Centre in Guwahati
The Assam government in collaboration with the Singapore-based ITE Education Services (ITEES) set up the North East Skill Centre (NESC) in Guwahati. The NSESC will aim to provide better skill training to thousands of unemployed youth of the state.
- The state government set up the NESC, a first of its kind in the region, as part of a MoU signed between the government of Assam and the government of Singapore in October 2016.
Ancient tribal language Gondi to be taught in tribal districts of MP
In Madhya Pradesh, ancient tribal language Gondi will be taught in tribal districts. Madhya Pradesh Chief Minister Kamal Nath has decided to include Gondi in the primary education curriculum of the state's tribal-dominated districts.
- The rapid decline in the number of people who speak that tongue is a matter of concern. Hence, the Chief Minister stressed on the need to save it from becoming a thing of the past.
Kummanam Rajasekharan resigns as Mizoram Governor, Jagdish Mukhi given additional charge
Kummanam Rajasekharan, the Governor of Mizoram resigned from his office and President Ram Nath Kovind has accepted the resignation. President Kovind has given Assam Governor Jagdish Mukhi additional charge of Mizoram. Rajasekharan's tenure as Mizoram Governor lasted for less than 10 months.
- Rajasekharan, the former chief of BJP in Kerala, was appointed Governor of Mizoram by President Kovind in May last year following the replacement of incumbent Lt. Gen Nirbhay Sharma.
INTERNATIONAL NEWS
Malaysia joins the International Criminal Court
Malaysia has become a member of the International Criminal Court. The ICC is the world’s only permanent war crimes court and aims to prosecute the worst abuses when national courts are unable or unwilling.
- Malaysia becomes the 124th member of the court since its establishment in 2002.
- Extra info.:
International Criminal Court Headquarters: The Hague, Netherlands
BANKING & FINANCE
Income tax exemption limit on gratuity doubled to Rs 20 lakh
The labour ministry said that the income tax exemption limit on gratuity has been doubled to Rs 20 lakh from the existing Rs 10 lakh, a move that will benefit employees who are not covered by the Payment of Gratuity Act, 1972.
- The ceiling of gratuity amount under the Payment of Gratuity Act, 1972, has been raised from time to time keeping in view overall economic condition and employers' capacity to pay and the salary of employees, which have been increased in private sector and in PSUs.
- The latest enhancement of tax exemption limit on gratuity follows a government notification issued on March 29, 2018, under which the ceiling was increased from Rs 10 lakh to 20 lakh effective March 29, 2018.
BUSINESS & ECONOMY
OECD cuts global economic growth forecasts
The OECD cut forecasts again for the global economy in 2019 and 2020, following on from previous downgrades in November, as it warned that trade disputes and uncertainty over Brexit would hit world commerce and businesses. 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.
AU Small Finance Bank partners with Insurtech Firm Acko General Insurance
AU Small Finance Bank Ltd. , a Fortune India 500 company and one of India's fastest growing banks, announced its partnership with a new age insurtech company, Acko General Insurance Limited. Partnering with Acko, India's first digital insurer, AU bank is now set to provide customized insurance products to its customers.
- Based on user behavior data, Acko's solution is designed to offer contextual insurance, enabling AU to deliver tailor-made policies that offer the right coverage when the customer needs it.
- Extra info.:
AU Small Finance Bank Headquarters: Jaipur
Acko General Insurance Headquarters: Mumbai
Nasscom to develop IT corridor in eastern China
Indian IT apex body Nasscom said it has entered into a partnership with Xuzhou city in Jiangsu province to develop an IT corridor in eastern China. The new corridor will facilitate partnerships between Indian and Chinese firms as part of Nasscom's efforts to evangelise IT development in newer geographies. As the centre of the Huai Hai economic zone, Xuzhou is an important national transportation hub.
- Through the partnership, the platform will enable match-making between Indian firms and their counterparts in the Huai Hai economic zone, looking to adopt digital transformation from verticals such as manufacturing, retail, automotive, healthcare and utilities.
APPOINTMENTS
Soumya Swaminathan named Chief Scientist at WHO
Soumya Swaminathan, a Deputy Director-General of the World Health Organisation has been named Chief Scientist of the WHO. As Deputy Director-General Programmes (DDP), she was one of the three DDGs assisting WHO Director-General Tedros Adhanom Ghebreyesus.
- The new position, a component of Ghebreyesus’s long-standing idea of ushering in reforms at the WHO, has specially been created for Swaminathan. The new division is being seen as the fifth pillar to strengthen the WHO’s core scientific work, ensure quality and consistency of norms and standards.
UNDP appoints Padma Lakshmi as Goodwill Ambassador
Indian-American television personality and food expert Padma Lakshmi has been appointed by the United Nations Development Programme (UNDP) as its newest Goodwill Ambassador, supporting the agency's fight against inequality and discrimination around the world.
- The announcement was made by UNDP Administrator Achim Steiner, on the eve of International Women's Day.
AWARDS
IGIA declared as 'Best Airport' in 2018 ASQ Awards
The Indira Gandhi International (IGI) airport in New Delhi has been adjudged as the best airport in the category of over 40 million passengers per annum (MPPA) in Asia Pacific by Airports Council International (ACI) in the Airport Service Quality Programme for 2018.
- The airport stood World No. 2 in the highest category of more than 40 million passengers per annum in 2016. In 2017, the Delhi Airport was adjudged as the best Airport in the highest category of over 40 MPPA.
OBITUARIES
US wrestler King Kong Bundy passes away
Professional wrestler King Kong Bundy, who rose to fame in the 1980s when he battled Hulk Hogan in a steel cage match, has passed away at the age of 61. The King Kong Bundy character was developed by Mr Pallies on the New Jersey wrestling scene, where he capitalised on his immense size.
- He weighed more then 458lbs (208kg), and was known as the "walking condominium".
Jerry Merryman, Co-Inventor of the Pocket Calculator passes away
Jerry Merryman, a self-taught electrical engineer who helped design the first pocket calculator, passed away in Dallas. He was 86. Merryman helped to develop the calculator in the mid-1960s while he was working for American technology company Texas Instruments (TI) alongside James Van Tassel and his boss Jack Kilby co-creator of the first integrated circuit and Nobel Prize winner.
IMPORTANT DAYS
International Women's Day
International Women's Day (IWD) is celebrated on March 8 every year. It is a focal point in the movement for women's rights. International Women’s Day is a worldwide event that celebrates women’s achievements from the political to the social while calling for gender equality.
- The International Women's Day 2019 campaign theme of "Think Equal ,Build Smart,Innovate for change: BalanceForBetter" is a call-to-action for driving gender balance across the world.
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