Current Affairs Update – 2-3 April, 2017

Hello and welcome to exampundit. Here are the important Current Affairs of 2 and 3 April, 2017. These are important for the upcoming SBI PO mains, BOB Manipal 2017, NICL AO 2017 and NIACL Assistant 2017.

Current Affairs at a Glance – 2-3 April, 2017 – Tap to show
  1. Private carrier Jet Airways fliers can now buy tickets online,
    using the industry’s latest payment mechanism, Unified Payments Interface (UPI). The move makes the
    city-headquartered airline the only
    domestic carrier providing its customers with this convenient payment solution
    .
  2. ICICI Bank on Monday announced the integration of its retail internet
    banking with ‘DigiLocker’
    , an online repository platform for issuance,
    verification and storage of digital certificates and documents on cloud.
  3. Tax evasion of over Rs 5 crore under the Goods and Services Tax (GST)
    regime would be a non-bailable offence
    . The new regime also empowers police
    to make an arrest without warrant.
  4. The Union Government has
    sanctioned Rs 98.35 Cr for the development
    of a Heritage Circuit in Assam
    .
  5. The Union government on 1 April
    2017 launched PowerTex India, a comprehensive scheme for the
    development of the powerloom sector.
  6. India and Malaysia on 1 April 2017 inked seven agreements including
    the development of a fertiliser plant in Malaysia. The agreements were signed
    to strengthen the strategic partnership between the two nations.
  7. The second Annual Meeting of the New Development Bank began on 31
    March 2017 in New Delhi. The meeting will be held for three days  till 2 April 2017.
  8. The Union Cabinet on 31 March
    2017 gave its approval for signing of an agreement between the Ministry of Rural Development and Centre on Integrated Rural
    Development for Asia and the Pacific (CIRDAP)
    for the establishment of a CIRDAP Centre at National Institute of
    Rural Development and Panchayati Raj in Hyderabad, Telangana
    .
  9. Prime Minister Narendra Modi on 2 April 2017 inaugurated Chenani-Nashri
    tunnel, India’s longest highway tunnel in Jammu & Kashmir
    . This 9 km
    long twin-tube tunnel is an ideal example of the government’s ‘Make in India’
    and ‘Skill India’ initiative. PM Modi also announced to invest around Rs 7000
    crore in highways projects in Jammu and Kashmir in the next two years. A ring
    road will be built around Jammu at a cost of Rs 2100 crore and another one
    around Srinagar at a cost of Rs 2200 crore.
  10. B P Kanungo on Monday took over as the Deputy Governor of the
    Reserve Bank of India (RBI).
  11. Bajaj Capital on Monday said it
    has appointed Rahul Parikh as the
    new chief executive officer.
  12. Diplomat Vipul on 3 April 2017 took charge as the new Consul General of Dubai.
  13. Dawit Isaak, an imprisoned Eritrean-Swedish journalist, on 30 March
    2017 was chosen to receive the 2017 UNESCO/Guillermo Cano World Press Freedom
    Prize.
  14. P V Sindhu on 2 April
    2017 defeated reigning Olympic champion Carolina Marin of Spain to lift her
    maiden India Open Super Series title.
  15. Roger Federer on 2 April 2017 outclassed Spain’s Rafael Nadal to
    win the 2017 Miami Open Men’s Singles title.

Finance and Banking News –
Jet Airways becomes first domestic carrier to allow UPI for
ticket-booking

  • Private carrier Jet Airways
    fliers can now buy tickets online, using the industry’s latest payment
    mechanism, Unified Payments Interface (UPI).
  • The move makes the
    city-headquartered airline the only domestic carrier providing its customers
    with this convenient payment solution.
  • The UPI allows money to be
    transferred instantaneously between any two bank accounts instantly, using a
    smartphone.
  • Launched by National Payments
    Corporation of India (NPCI), UPI is one of the various measures by the RBI
    towards a less-cash and a more digital society.
ICICI Bank integrates net-banking service with DigiLocker

  • ICICI Bank on Monday announced
    the integration of its retail internet banking with ‘DigiLocker’, an online
    repository platform for issuance, verification and storage of digital certificates
    and documents on cloud.
  • ‘DigiLocker’, an initiative of
    the Ministry of Electronics & Information Technology (MeitY), is a
    repository platform for issuance, verification and storage of digital
    certificates and documents on cloud.
  • ICICI Bank is offering this
    service free of cost, it said.
  • At present, over 20 organisations
    including the Unique Identification Authority of India (UIDAI), Central Board
    of Secondary Education (CBSE), Ministry of Road Transport and Highways,
    Ministry of Petroleum and Natural Gas, including various eDistrict applications
    are part of the DigiLocker ecosystem.
Tax evasion over Rs 5 crore will be non-bailable offence under new GST
regime

  • Tax evasion of over Rs 5 crore
    under the Goods and Services Tax (GST) regime would be a non-bailable offence.
    The new regime also empowers police to make an arrest without warrant.
  • The Central GST (CGST) Act has
    defined offences related to taxable good or services. The act provides that if
    the offences will be cognizable and non-bailable when the taxable goods and/or
    services where the amount of tax evaded or the amount of input tax credit
    wrongly availed or the amount of refund wrongly taken exceeds Rs 5 crore.
  • The Central Board of Excise &
    Customs (CBEC) in its 223-page frequently asked questions (FAQ) on GST said
    other offences under the act are non-cognizable and bailable. FAQ suggests that
    cognizable offence means the serious category of offences in respect of which a
    police officer has the authority to make an arrest without a warrant and to
    start an investigation with or without the permission of a court.
Ratification of Minimum Age Convention & Worst Forms of Child
Labour Convention approved

  • The Union Cabinet on 31 March
    2017 approved the ratification of the Minimum Age Convention, 1973 (No. 138)
    and the Worst Forms of Child Labour Convention, 1999 (No. 182).
  • The approval for the ratification
    of the two fundamental conventions of the International Labour Organization
    (ILO) was given at a meeting of the Cabinet chaired by the Prime Minister
    Narendra Modi in New Delhi.
  • While the Minimum Age Convention
    deals with the minimum age for admission to employment, the Worst Forms of
    Child Labour Convention, 1999 is concerned with the prohibition and immediate
    action for elimination of the worst forms of Child Labour.
  • India is a founder member of the
    International Labour Organization (ILO), which came into existence in 1919. At
    present, the ILO has 187 members.
  • The principal means of action in
    the ILO is the setting up of International standards in the form of
    Conventions, Recommendations and Protocol.
  • India has so far ratified 45
    Conventions, out of which 42 are in force. Out of these 4 are Fundamental or Core
    Conventions.
Union Cabinet approved signing of new Air Services Agreement between
India and Serbia

  • The Union Cabinet on 31 March
    2017 approved the signing of a new Air Services Agreement (ASA) between India
    and Serbia.
  • The approval was given at a
    meeting of the Cabinet chaired by the Prime Minister Narendra Modi in New
    Delhi.
  • The essential features of the new
    India-Serbia Air Services Agreement are –
  •  Under the new 
    Air Services Agreement, the Indian carriers can operate to any points in
    Serbia from points in India.
  •  Whereas the carriers of Serbia can establish
    direct operation to four metros – New Delhi, Mumbai and 2 more points to be
    specified later.
  • Apart from this, through routing
    flexibility, any intermediate and beyond point can also be served by the
    designated carriers on both sides.
  • The designated airlines shall be
    entitled to exercise domestic code share operation to any four additional
    points in the territory of the other Party over.
Centre sanctions Rs 98 Cr for development of tourism sector in Assam

  • The Union Government has
    sanctioned Rs 98.35 Cr for the development of a Heritage Circuit in Assam.
  • The announcement was made by the
    Union Minister of State for Tourism and Culture, Mahesh Sharma while meeting
    the state’s Chief Minister Sarbananda Sonowal.
  • The amount has been sanctioned
    for the development of Tezpur, Majuli and Sivasagar circuit under the scheme of
    Swadesh Darshan.
  • It includes the development of a
    composite tourist infrastructure in Majuli, which will comprise an
    interpretation centre near Kamalabari ghat, log huts, watch towers, cafeteria,
    elevated walkway, solar illumination and landscaping.
  • The infrastructure at Majuli
    itself is expected to cost around Rs. 61.26 Cr.
Five associate banks, Bharatiya Mahila Bank merged with SBI

  • Five associate banks of SBI and
    the Bharatiya Mahila Bank (BMB) were on 1 April 2017 merged with the State Bank
    of India (SBI).
These five associate banks that were merged with the SBI are –

  1. State Bank of
    Bikaner and Jaipur
  2. State Bank of
    Hyderabad
  3. State Bank of
    Mysore
  4. State Bank of
    Patiala
  5. State Bank of
    Travancore

  • The merger of these five
    associate banks with SBI was approved by the Union Government in February 2017.
    Later in March 2017, the Union Cabinet approved merger of BMB as well.
  • With this merger, SBI will join
    the league of top 50 banks globally in terms of assets. Currently, no Indian
    bank features in the top 50 banks of the world.
  • The total customer base of the
    SBI will now reach to 37 crore people with a branch network of around 24000 and
    nearly 59000 ATMs across the country. The merged entity will have a deposit
    base of more than Rs 26 lakh crore and advances level of Rs 18.50 lakh crore.
  • Soon, the bank will rationalise
    its branch network by relocating some of the branches to maximise reach. This
    will help the bank in optimising its operations and improve its profitability.
  • Integration of treasuries of the
    associate banks with the treasury of SBI will bring in substantial cost saving
    and synergy in treasury operations.
Textiles Minister launches PowerTex India scheme for powerloom sector

  • The Union government on 1 April
    2017 launched PowerTex India, a comprehensive scheme for the development of the
    powerloom sector.
  • The scheme was launched by Union
    Textiles Minister Smriti Irani through a video conference at Bhiwandi in Thane
    district, Maharashtra with a simultaneous launch in 45 other locations across
    the country including Surat, Erode, Malegaon, Bengaluru, Varanasi and
    Bhagalpur.
  • The scheme would especially
    benefit Maharastra and Tamil Nadu. It comprises new research and development in
    power loom textiles along with new markets, branding, subsidies and welfare
    schemes for the workers.
  • It is meant to especially benefit
    the small power loom weavers. The powerloom sector alone employs over 44 lakh
    people.
  • In all, it has nine components
    including In-situ up-gradation of Plain Powerlooms, Group Workshed Scheme
    (GWS), Common Facility Centre (CFC), Yarn Bank Scheme, Tex Venture Capital
    Fund, Grant-in-Aid and Modernisation & Upgradation of Powerloom Service
    Centres (PSCs).
  • It also includes two new schemes,
    Pradhan Mantri Credit Scheme (PMCS) for powerloom weavers and solar energy
    scheme (SEC) for powerlooms.
India, Malaysia inked seven agreements

  • India and Malaysia on 1 April
    2017 inked seven agreements including the development of a fertiliser plant in
    Malaysia. The agreements were signed to strengthen the strategic partnership
    between the two nations.
  • These MoUs/agreements were signed
    during the Malaysian Prime Minister Mohd Najib Bin Tun Abdul Razak’s visit to
    India. Raazak was on a six-day visit (from 30 March – 04 April 2017) to India.
List of Agreements/ Memorandum of Understandings (MoUs) exchanged
during the State Visit of Prime Minister of Malaysia to India

  1. Air Services Agreement: The two
    nations signed an Air Services Agreement.
  2. MoU on Cooperation in the
    proposed development of a Urea and Ammonia Manufacturing Plant in Malaysia and off-take
    of existing surplus urea from Malaysia to India: It envisages Malaysian
    consortium of Isomeric Holding Sdn Bhd and Edra Power Holdings Sdn Bhd to put
    up a 2.5 MT/annum urea and ammonia manufacturing plant in Melacca, Malaysia for
    dedicated consumption by India. It also envisages off take to India the
    existing surplus Urea from Malaysia as per India’s requirement.
  3. MoU on Cooperation in the Field
    of Sports: It envisages cooperation through exchange of sportspersons,
    instructors, information on sports regimen and training curricula, among
    others.
  4. MoU for cooperation in training
    and others: The MoU was signed between the Malaysian Human Resource Fund
    (HRDF)/Pembangunan Sumber Manusia Berhad (PSMB) and EDII, Ahmedabad. The signed
    agreement envisages that EDII of Ahmedabad will carry out training and other
    capacity building programmes, as necessary on behalf of the Human Resource
    Development of Malaysia.
  5. MoU on Mutual Recognition of the
    Educational Qualifications: it was signed between Association of Indian
    Universities (AIU), India and Malaysian Qualifications Agency (MQA), Malaysia.
    It establishes recognition of equivalence of the various degrees awarded by
    educational institutions in the two countries. It also envisages the eventual
    signing of a mutual recognition agreement between the two education/higher
    education ministries, following technical consultations.
  6. MoU for collaboration in
    technology development in the field of Palm Oil: It was inked between Malaysian
    Palm Oil Board (MPOB) and Institute of Chemical Technology (ICT), India.
  7. MoU on the implementation of 4th
    Generation Technology Park in AP: It was inked between MIGHT Technology
    Malaysia and AP Economic Development Board. As per the MoU, the Malaysian
    industry-government group for high power technology (MIGHT) will act as a
    facilitator to develop a cluster in AP. As part of fourth generation Technology
    Park, packing material would be made from recycled agricultural materials.
MPOC signs pacts to promote palm oil in India

  • Malaysian Palm Oil Council today
    signed pacts with edible oil industry body Solvent Extractors’ Association and
    Mumbai Dabbawala Association (MDA) to promote palm oil in India.
  • The memorandums of understanding
    (MoUs) were exchanged in the presence of Malaysian Prime Minister Mohd Najib
    Tun Abdul Razak, a statement said.
  • Malaysian Palm Oil Council
    (MPOC), having its registered office in kuala lumpur, seeks to collaborate with
    trade organizations in India to promote and create opportunities for the
    greater acceptance of Malaysian palm oil among Indian consumers, food manufacturers
    and other end-users.
  • The MoUs between MPOC and Mumbai
    Dabbawala Association (MDA) covers various areas of cooperation like educating
    consumers on usage, nutritional and health properties of palm oil.
2nd Annual Meeting of New Development Bank begins in New Delhi

  • The second Annual Meeting of the
    New Development Bank began on 31 March 2017 in New Delhi. The meeting will be
    held for three days  till 2 April 2017.
  • Main event: The opening ceremony
    of the NDB Second Annual Meeting will be held at Taj Palace Hotel in New Delhi
    on 1 April 2017.
  • It will be followed by the
    singing ceremony, the Second Annual Meeting of the NDB Board of Governors and
    Press Conference.
  • Seminars: The first seminar will
    be held under the theme of “Financing Sustainable Development.” It will address
    the role of governments in financing development and, in particular,
    sustainable infrastructure.
  • The second seminar will be held
    under the theme of “Urban Planning and Sustainable Infrastructure Development.”
  • During the seminar, the
    participants will look into how the urban development could improve the lives
    of people.
News related to India and states –
Cabinet approved signing of Agreement for establishment CIRDAP Centre

  • The Union Cabinet on 31 March
    2017 gave its approval for signing of an agreement between the Ministry of
    Rural Development and Centre on Integrated Rural Development for Asia and the
    Pacific (CIRDAP) for the establishment of a CIRDAP Centre at National Institute
    of Rural Development and Panchayati Raj in Hyderabad, Telangana.
  • The meeting was chaired by Prime
    Minister Narendra Modi.The establishment of the centre within the National
    Institute of Rural Development and Panchayati Raj (NIRD & PR) premises
    would give the institute an advantage of acquiring first-hand knowledge about
    networking with organizations that specialise in rural development programmes.
  • The new centre would help the
    NIRD & PR to enhance its position in the region through connections with
    other institutes in the CIRDAP member countries and help it create its own
    storehouse of institutional knowledge.
  • It would also benefit the faculty
    at the institute with exchange visits to the best practices in the CIRDAP
    member countries.
PM Narendra Modi inaugurates India’s longest Chenani-Nashri tunnel

  • Prime Minister Narendra Modi on 2
    April 2017 inaugurated Chenani-Nashri tunnel, India’s longest highway tunnel in
    Jammu & Kashmir. This 9 km long twin-tube tunnel is an ideal example of the
    government’s ‘Make in India’ and ‘Skill India’ initiative.
  • PM Modi also announced to invest
    around Rs 7000 crore in highways projects in Jammu and Kashmir in the next two
    years. A ring road will be built around Jammu at a cost of Rs 2100 crore and
    another one around Srinagar at a cost of Rs 2200 crore.
  • Moreover, Zojila tunnel is also
    under construction between Leh and Ladakh at a cost of Rs 6000 crore.
  • This 9 km long all-weather tunnel
    between Udhampur and Ramban in Jammu & Kashmir is not only India’s longest highways
    tunnel but also Asia’s longest bi-directional highways tunnel.
  • Built at an elevation of 1200
    metres on one of the most difficult Himalayan terrains, the tunnel will cut the
    travel time between Jammu and Srinagar by two hours, bypassing about 41 kms of
    road length.
  • It will also ensure an all
    weather passage on a route that often sees heavy traffic jams and disruptions
    due to landslides, snow, sharp curves, breakdown of vehicles and accidents.
  • The structure of the tunnel
    consists of a 9 km long two-laned main tunnel with a parallel escape tunnel of
    same length. The two tunnels are connected by 29 cross passages at regular
    intervals.
  • These cross passages can be used
    for evacuation of vehicles and commuters in case of breakdown or any other emergency.
Appointments –
B P Kanungo takes over as new RBI deputy governor

  • B P Kanungo on Monday took over
    as the Deputy Governor of the Reserve Bank of India (RBI).
  • The government on March 11
    appointed Kanungo, who was holding the position of Executive Director of RBI,
    as Deputy Governor for a period of three years.
  • Kanungo will look after the
    departments of currency management, external investments and operations,
    government and bank accounts, and information technology, payment and
    settlement systems.
  • He will also look after foreign
    exchange department, internal debt management department, legal department and
    premises department.
  • Kanungo had joined the RBI in
    September 1982.
Bajaj Capital appoints Rahul Parikh as the new CEO

  • Bajaj Capital on Monday said it
    has appointed Rahul Parikh as the new chief executive officer.
  • Parikh has almost 17 years of
    experience in financial services companies like Aditya Birla Money MyUniverse,
    Birla Sunlife Asset Management Company and ICICI Prudential Mutual Fund.
  • Besides, Anil Chopra has been
    elevated to Group Director — Corporate Affairs of the company. Earlier, he was
    Group CEO and Director of the firm. In his new role, he will be working with
    the shareholders to develop new lines of business.
Vipul takes charge as Consul General of Dubai

  • Diplomat Vipul on 3 April 2017
    took charge as the new Consul General of Dubai. Vipul is a 1998 batch Indian
    Foreign Service officer.
  • Vipul succeeds Anurag Bhushan,
    who returned to New Delhi to take up his assignment at the Headquarters after a
    successful term of three years in Dubai.
  • Before joining the Consulate at
    Dubai , Vipul was working in the office of Union External Affairs Minister
    Sushma Swaraj. Earlier, he served India’s diplomatic missions in Sri Lanka and
    Egypt. He has a good command over the Arabic language.
Actor Vishal elected as President of TN Film Producers Council

  • Renowned actor Vishal was on 2
    April 2017 elected as the President of the Tamil Nadu (TN) Film Producers
    Council. Vishal bagged a total of 476 votes out of the 1059 votes polled.
  • He won by a margin of 144 votes
    defeating Radhakrishnan, who garnered 332 votes in the polls that were held for
    the film body. Another contestant Keyar secured 224 votes.
  • Former High Court Judge
    Rajeswaran was appointed as the Election Officer of the Tamil Nadu (TN) Film
    Producers Council.
  • Vishal is also the General
    Secretary of the South Indian Film Artistes Association. He owns a production
    house Vishal Film Factory.
Awards & Honors –
Dawit Isaak awarded 2017 UNESCO/Guillermo Cano World Press Freedom
Prize

  • Dawit Isaak, an imprisoned
    Eritrean-Swedish journalist, on 30 March 2017 was chosen to receive the 2017
    UNESCO/Guillermo Cano World Press Freedom Prize.
  • Isaak was chosen for the
    prestigious award in recognition of his courage, resistance and commitment to
    freedom of expression.
  • The journalist was arrested in a
    crackdown on the media that occurred in September 2001. His present location is
    unknown.
  • The Prize will be awarded on 3
    May 2017, World Press Freedom Day, to be hosted in Jakarta, Indonesia.
Sports –
P V Sindhu defeats Carolina Marin to win India Open Super Series title

  • P V Sindhu on 2 April 2017
    defeated reigning Olympic champion Carolina Marin of Spain to lift her maiden
    India Open Super Series title.
  • Third seeded Sindhu defeated
    Marin 21-19, 21-16 at the Sirifort Sports Complex. The Indian badminton player
    had last defeated Marin in the BWF Super Series in Dubai in the year 2016.
  • In 2013, she became the first
    ever Indian women’s singles player to win a medal at the Badminton World
    Championships.
Roger Federer defeats Rafael Nadal to clinch 2017 Miami Open Men’s
Singles title

  • Roger Federer on 2 April 2017
    outclassed Spain’s Rafael Nadal to win the 2017 Miami Open Men’s Singles title.
  • Eighteen-time Grand Slam champion
    defeated Nadal in straight sets 6-3, 6-4 to win his third Miami Open title.
  • In majors, he has won seven
    Wimbledon titles, five Australian Open titles, five US Open titles and one
    French Open title.
Leander Paes and Adil Shamasdin win Men’s Doubles title at Torneo
Internacional Challenger Leon

  • Leander Paes on 2 April 2017,
    combining with Canadian Adil Shamasdin, lifted the Leon Challenger Tour tennis
    tournament’s Men’s Doubles trophy at Leon, Mexico.
  • Paes and Shamasdin defeated
    Switzerland’s Luca Margaroli and Caro Zampieri of Brazil 6-1 6-4 in the title
    clash at the USD 75000 hard court event.
  • With this win, Paes grabbed his
    20th ATP Challenger title. The Indian player has now won at least one title
    every year for the past 26 years.
World –
Myanmar becomes seventh member of South Asia Subregional Economic
Cooperation

  • Myanmar on 31 March 2017 became
    the seventh member of the South Asia Subregional Economic Cooperation (SASEC)
    Program.
  • Myanmar’s association with the
    SASEC open up new markets and supply chain links for trade and business between
    South Asia and Southeast Asia.
  • The SASEC countries coordinate
    the planning of projects and activities to increase economic growth by building
    transport connectivity, facilitating faster and more efficient trade, and
    promoting cross-border power trade.
  • Up till now, SASEC members have
    invested more than USD 9 billion in development projects, which have connected
    markets and businesses over the last 15 years in the subregion.

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