CURRENT AFFAIRS: NATIONAL
Cabinet approves Fugitive Economic Offenders Bill, 2018:
- The Union Cabinet chaired by Prime Minister Shri Narendra Modi, has approved the proposal of the Ministry of Finance to introduce the Fugitive Economic Offenders Bill, 2018 in Parliament.
- The Bill would help in laying down measures to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts.
CURRENT AFFAIRS: STATE & UT
Lakshadweep joins hand to incorporate UDAY scheme providing electricity to people:
- Lakshadweep, the Union Territory joined hands with the UDAY scheme, which is meant for the revival of debt-stressed power distribution companies (discoms) in the country.
- The Memorandum of Understanding signed as an operational turnaround of the Union Territory’s Electricity Department.
- The Union Territory will have an overall benefit of around Rs 8 crore that would provide ways of cheaper funds, reduction in AT&C losses, and intervention in energy efficiency.
- The MoU a paved path for improving the efficiency of the Electricity Department of Lakshadweep.
- Initiating mandatory distribution transformer metering, consumer indexing, consumer indexing and GIS mapping of losses and various other requirements will help eliminate the gap between cost of supply of power and realization.
||Shri Farooq Khan
CURRENT AFFAIRS: BANKING AND FINANCE
Separate limit of Interest Rate Futures (IRFs) for Foreign Portfolio Investors (FPIs):
- The Reserve Bank of India has eased position limit in interest rate futures (IRFs) for foreign portfolio investors (FPIs). The banking regulator has allowed a limit of Rs. 5,000 crore for FPIs to go long in IRFs.
- An Interest Rate Futures contract is an agreement to buy or sell a debt instrument at a specified future date at a price that is fixed. The underlying security for Interest Rate Futures is either a Government Bond or a Treasury Bill.
RBI’S review on Currency Distribution & Exchange Scheme (CDES):
- The RBI has been providing several incentives to banks, from time to time for installation of various machines by them to encourage technology absorption in their currency operations for improved customer service.
- Therefore, on a review, it has been decided to withdraw the incentives which was being given to the banks for installation of Cash Recyclers and ATMs dispensing only lower denomination notes as contained in the Master Direction DCM
PNB And ICICI Bank Increases MCLR Rates
- The Punjab National Bank (PNB) and ICICI Bank hiked the MCLR rates for loan borrowers.
- Taking a cue from SBI, country’s second-largest private sector lender ICICI Bank also raised the one-year MCLR from 8.2% to 8.3%.
- The PNB, which is at the centre of Nirav Modi fraud also increased one-year MCLR to 8.3% from 8.15%.
CURRENT AFFAIRS: MOU
India, Bangladesh, Russia Sign Pact For Rooppur Atomic Plant In Bangaladesh:
- Indian companies can now participate in construction and installation works in the “non-critical” category for the Rooppur nuclear power plant in Bangladesh, according to the Russian atomic energy agency Rosatom.
- The Rooppur project is the first initiative under an Indo-Russian deal to undertake atomic energy projects in third countries.
- This will also be the first time Indian companies will be able to participate in a nuclear power project abroad.
- India, Bangladesh and Russia signed an agreement in this regard in Moscow, Russia.
India, the US working together on regional, maritime security:
- The US is working with India on a range of issues including regional and maritime security.
- Chief Pentagon spokesperson Dana White said our goal is to ensure that we are working together on an array of issues with respect to regional security.
- Therefore the more we can have a conversation not only about Afghanistan and the future of Afghanistan.
CURRENT AFFAIRS: APPOINTMENTS
Armen Sarkisian Elected Next Armenian President:
- Armenian lawmakers elected Armen Sarkisian as the new president of Armenia. He will succeed Serzh Sarkisian.
- Armen Sarkisian was the ambassador to the United Kingdom.
- He will assume presidential duties after his predecessor steps down in April 2018. The political shift comes after President Sarkisian in 2015 initiated controversial constitutional amendments to turn the impoverished Moscow-allied country into a parliamentary republic with a powerful Prime Minister.
CURRENT AFFAIRS: SCHEMES AND PROGRAMS
‘India by the Nile’ festival to begin next week in Egypt:
- The mega annual cultural festival ‘India by the Nile’, organised to celebrate Indian culture and its diversity, will begin in Cairo next week with the main focus on classical culture this year.
- The 12-day event, the biggest foreign festival in Egypt, will host a wide range of events and starts on March 6.
- The festival which provides audiences an Indian cultural experience and encourages artistic collaborations between India and Egypt will be held in several cities such as Cairo, Alexandria and Port Said.
CURRENT AFFAIRS: SPORTS
Venkatesh Prasad quits as BCCI junior selection chairman:
- Former India pacer Venkatesh Prasad on Friday submitted his resignation from the post of chairman of the junior national selection committee.
- Prasad, who cited personal reasons for stepping down, has worked as the head of the committee for 30 months.
- Acting president CK Khanna said that he tried convincing Prasad to stay but he had made up his mind.
Navajot Kaur 1st Indian woman to win gold in Senior Asian C’ships:
- Navjot Kaur became the first Indian woman wrestler to win gold in the Senior Asian Championships after winning in the 65 kg freestyle category.
- Rio Olympics bronze medalist Sakshi Malik won a bronze in the 62 kg freestyle category, while Vinesh Phogat won a silver medal in the women’s 50 kg freestyle category.
Vinesh Phogat bags silver at Asian Wrestling Championships
- Indian wrestler Vinesh Phogat won a silver medal at the ongoing Asian Wrestling Championships in Bishkek, Kyrgyzstan.
- Phogat lost to Chinese wrestler Chun Lei by a margin of 2-3 in the women’s 50kg freestyle final.
- This is Phogat’s second consecutive silver at the annual event, following her podium finish at the tournament in New Delhi in 2017.
Azlan Shah Cup Hockey Tournament Begins In Malaysia:
- The 27th Sultan Azlan Shah Cup Hockey tournament begins in the Malaysian city of Ipoh.
- Six nations – India, hosts Malaysia, defending champions England, Australia, Argentina and Ireland – are taking part in the tournament.
- India, currently the world number six side, will take on world number two Argentina in their opening round-robin match.
CURRENT AFFAIRS: OBITUARIES
T Thomas passes away aged 90:
- Former Hindustan Unilever (HUL) Chairman T Thomas died on Friday at the age of 90.
- Thomas was the Chairman of the company, then known as Hindustan Lever, between 1973 and 1980.
- Thomas also served as a director on the board of Unilever in London for a decade and was also a non-executive Chairman of companies including Glaxo and Lafarge.
Tripura minister Khagendra Jamatia passes away.
- Khagendra Jamataia, Tripura Fisheries and Cooperation minister died at a hospital in New Delhi.
- Jamatia was CPM candidate from the Krishnapur constituency in the February 18 assembly election.
- Jamatia joined the CPM in 1983, was a party MLA for six consecutive terms since 1988.