Current Affairs Today 18th March 2020-Download in PDF

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Current Affairs Today – 18th March 2020

NEWS AT A GLANCE

• The Ordnance Factories’ Day is observed on the 18th of March every year.
• Ministry of Finance reported that all villages were mapped by banks into 1.59 lakh Sub-Service Areas (SSAs) under Pradhan Mantri Jan-Dhan Yojana (PMJDY).
• The Reserve Bank of India (RBI) has announced that, in the wake of the epidemic Covid-19, the central bank would use Forex swap and long-term repo operations (LTROs) to mitigate the effects of the Covid-19 on the Indian Economy.
• S&P Global Ratings has reduced India’s economic growth forecast to 5.2% for financial year 2020.
• Innovate for Accessible India campaign has been launched jointly by Microsoft India and NASSCOM Foundation to empower people with disabilities.
• Ministry of Culture has established an institute named Central Institute of Himalayan Culture Studies (CIHCS) at Dahung, Arunachal Pradesh.
• Ministry of Finance reported that more than Rs.20,466.94 crores of loans had been sanctioned under Stand Up India Scheme to over 91,000 accounts up to 10 March 2020.
• The Health Ministry issued guidelines for notifying COVID-19 in private facilities.
• The Kerala government has launched a mass handwashing campaign named ‘break the chain’ to combat coronavirus.
• World’s first commercial flying car named ‘PAL-V Liberty’ will be developed in Gujarat, India. PAL-V stands for Personal Air-Land Vehicle.
• Prime Minister Narendra Modi held talks (through telephone call) with the Crown Prince of the Kingdom of Saudi Arabia, His Royal Highness Mohammed bin Salman.
• Manikaran Power Ltd (MPL) has become the first member of India’s first gas trading platform which is called the Indian Gas Exchange (IGX).
• Ravinder Singh Dhillon has appointed as Chairman and Managing Director of Power Finance Corporation (PFC).
• Rajiv Bajaj has been reappointed as MD & CEO of Bajaj Auto.
• ATK FC (Football Club) won the ISL (Indian Super League) trophy for the 3rd time following a 3-1 win against Chennaiyin FC in the final match held at the Fatorda Stadium in Goa.
• The French Open tennis tournament has been postponed by the French Tennis Federation due to the coronavirus pandemic.
• Prachi Salve of IndiaSpend and Pradeep Dwivedi of DainikJagran jointly won the top prize in the Road Safety Media Fellowship 2019.
• Noted Marathi Actor Jairam Kulkarani passed away.

NEWS IN DETAILS

IMPORTANT DAYS AND THEMES

Ordnance Factories’ Day observed on 18th March

• The Ordnance Factories’ Day is observed on the 18th of March every year.
• The production of India’s oldest Ordnance Factory, which is at Cossipore of Kolkata, was started in 18th of March, 1802. OFB is the 37th largest defence equipment manufacturer in the world, 2nd largest in Asia, and the largest in India.
• The day is celebrated by displaying the rifles, guns, artillery, ammunition etc in exhibitions all over India.
• The celebrations start with a parade and the exhibition will also display the photographs of various mountaineering expeditions.

BANKING AND FINANCE CURRENT AFFAIRS

Around 1.5 lakh SSAs covered with at least one bank branch under PMJDY

• Ministry of Finance reported that all villages were mapped by banks into 1.59 lakh Sub-Service Areas (SSAs) under Pradhan Mantri Jan-Dhan Yojana (PMJDY).
• One SSA caters to 1,000 to 1,500 households.
• The report was submitted by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs in Rajya Sabha.

Highlights:

• Over 0.33 lakh SSAs have been covered with bank branches, and 1.26 lakh SSAs are covered by the deployment of interoperable Business Correspondents (BCs) so far.
• Banking outlets are being rolled out in uncovered areas, and the process is looked after by State Level Bankers’ Committees, in consultation with the concerned State Government, member banks and other stakeholders.

Extra Shots:

Pradhan Mantri Jan Dhan Yojana:

• The Pradhan Mantri Jan Dhan Yojana seeks to integrate the poorest of the poor with bank accounts. The implementation of the scheme done in 3 phases so far.

The 3 phases are:

♦ Phase I: 15 August 2014-14 August 2015

♦ Phase II: 15 August 2015-14 August 2018

♦ Phase III: After 14 August 2018

RBI to use swap transactions, LTRO to infuse liquidity

• The Reserve Bank of India (RBI) has announced that, in the wake of the epidemic Covid-19, the central bank would use Forex swap and long-term repo operations (LTROs) to mitigate the effects of the Covid-19 on the Indian Economy.

Highlights:

• RBI will conduct a sell/buy swap auction worth $2 billion to provide dollar liquidity. RBI also stated that it would not hesitate to persist with LTROs to infuse long-term rupee liquidity, amounting to Rs.1 lakh crore.
• RBI is to undertake another six-month US dollar sell/buy swap auction that aggregates to $2 billion on 23 March. The move by RBI aims to provide liquidity to the foreign exchange market.
• RBI is to conduct LTRO in multiple tranches of appropriate sizes up to a total amount of Rs.1 lakh crore at the policy repo rate. It aims to counterbalance the domestic liquidity effects of the swap and to improve monetary policy transmission further.

Extra Shots:

RBI: The Reserve Bank of India is India’s central banking institution, which controls the issuance and supply of the Indian rupee.

• Founded: 1 April 1935, Kolkata
• Headquarters: Mumbai
• Governor: Shaktikanta Das
• Deputy Governors: B P Kanungo, M K Jain

BUSINESS AND ECONOMY

S&P cuts India’s growth forecast to 5.2% in 2020

• S&P Global Ratings has reduced India’s economic growth forecast to 5.2% for financial year 2020.
• The economic growth forecast was earlier forecasted at 5.7%.
• The rating agency stated that the global economy is entering a recession amid the coronavirus pandemic.
• Along with S&P, Moody’s and Organisation for Economic Co-operation and Development (OECD) has also reduced their growth projections for India.
• Moody’s has lowered growth projections for India for financial year 2020 to 5.3%.
• While, Organisation for Economic Co-operation and Development (OECD) has lowered growth projections for India for financial year 2020 to 5.1%.

Extra Shots:

S&P: Standard & Poor’s Financial Services LLC is an American financial services company. It is a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities.

• Headquarters: New York, New York, United States
• Parent organization: S&P Global
• Founder: Henry Varnum Poor
• Founded: 1860

NATIONAL CURRENT AFFAIRS

Innovate for Accessible India campaign launched to empower PwD

• Innovate for Accessible India campaign has been launched jointly by Microsoft India and NASSCOM Foundation to empower people with disabilities.
• The campaign aims to empower people with disabilities with the help of technology and tools to provide better integration into society and access to equal opportunities.

All About “Innovate for Accessible India” campaign:

• “Innovate for Accessible India” campaign has been launched jointly by Microsoft India and NASSCOM Foundation in partnership with Department of Empowerment of Persons with Disabilities, National Research and Education Network, and Department of Science and Technology.
• The campaign will act as an aggregator of workable technology solutions developed using Microsoft cloud, artificial intelligence and other technologies.
• These solutions will address the gaps experienced by people with disabilities across the 21 officially recognised disabilities such as in acquiring services and support in education, skill building, employment, mobility, rehabilitation and other government services.
• The campaign will feature the participation of students, citizens and social impact organisations.
• Top 10 best solutions developed in the campaign will be provided mentoring support by Microsoft and NASSCOM Foundation, along with grants to develop and scale their solution.

Extra Shots:

NASSCOM: The National Association of Software and Service Companies is a trade association of Indian Information Technology and Business Process Outsourcing industry. Established in 1988, NASSCOM is a non-profit organisation. NASSCOM initiated a program called ‘10000 Startups’ in 2013.

• Chairperson: Keshav R Murugesh
• Headquarters location: New Delhi
• Members: over 2,000 companies
• Founded: 1 March 1988
• Founders: Dewang Mehta, Nandan Nilekani
• Affiliations: National Institute for Smart Government, Data Security Council of India

Ministry of Culture established institute to promote Buddhist studies, art, and Culture

• Ministry of Culture has established an institute named Central Institute of Himalayan Culture Studies (CIHCS) at Dahung, Arunachal Pradesh.

Aim:

• The main objective of CIHCS is to preserve ancient Buddhist manuscripts, to promote research in different aspects of Buddhism, digitize ancient Buddhist text preserved in the languages of Pali, Sanskrit, Tibetan, Chinese, Japanese, and other Asian languages through the system of a modern university.

Highlights:

• The move by the government is to provide education in Buddhist philosophies, Culture, and Art.
• The Ministry took over three universities, namely Nava Nalanda Mahavihara, Nalanda (NNM), Bihar; Central Institute of Higher Tibetan Studies (CIHTS), Sarnath, Varanasi; Central Institute of Buddhist Studies (CIBS), Leh, UT of Ladakh. These 3 universities were granted Deemed University Status by UGC.
• The Ministry also provides for 6 other Grantee Bodies, along with the four institutes, namely CIHCS, NNM, CIHTS, CIBS. The 6 institutes are Library of Tibetan Works and Archives, Dharamshala; Tibet House, New Delhi; Centre for Buddhist Cultural Studies, Tawang Monastery, Arunachal Pradesh; Namgyal Institute of Tibetology, Sikkim; International Buddhist Confederation; GRL Monastic School, Bomdila, Arunachal Pradesh.

Extra Shots:

Arunachal Pradesh:

• Statehood day: 20 February 1987
• Governor: Brig. (Dr.) B.D. Mishra (Retd.)
• Chief Minister: Pema Khandu
• Capital: Itanagar
• Districts: 25
• Official languages: English
• Literacy: 66.95%

More the Rs.20 crore has been sanctioned under the Stand Up India Scheme

• Ministry of Finance reported that more than Rs.20,466.94 crores of loans had been sanctioned under Stand Up India Scheme to over 91,000 accounts up to 10 March 2020.
• The information was shared by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs.

Stand Up India Scheme:

• Stand Up India Scheme was launched by the Government of India on 5 April 2016 by the Prime Minister Narendra Modi. It is a part of the Department of Financial Services’ (DFS) to promote entrepreneurial projects.

Aim:

• The main objective of the Stand Up India Scheme is to promote entrepreneurship among the scheduled caste (SC), scheduled tribes (ST), and women by loaning money to start a new business.

Scheme Highlights:

• The scheme will lend bank loans between Rs.10 lakh and Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks (SCBs).
• The loan will facilitate the borrower to set up greenfield enterprises in the manufacturing, services, or the trading sectors.
• The people who avail the benefits of the scheme will be informed about the online platforms, other resources of e-marketing, web-entrepreneurship, factoring services, and registration.

Health Ministry issued guidelines for notifying coronavirus

• The Health Ministry issued guidelines for notifying COVID-19 in private facilities.
• The move is to strengthen containment measures amid rising cases of coronavirus.

Guideline Highlights:

• Each case of coronavirus should be isolated and provided appropriate treatment, and their contacts should be traced at the earliest to break the chain of transmission.
• It is mandatory for all Government and Private hospitals, medical officers in government health institutions, and registered private medical practitioners to notify such person(s) with COVID-19 affected person too concerned district surveillance unit.
• All practitioners should get the self-declaration forms of people having a travel history of COVID-19 affected countries as per the extant guidelines and are falling under the case definition of coronavirus (suspect/case).
• If the person has any such history in the last 14 days and is symptomatic as per the case definition of COVID-19, the person must be isolated in the hospital and will be tested for the disease as per the protocol.
• Also, the information of all such cases should be given to the state helpline number and also to national helpline 1075.

STATE CURRENT AFFAIRS

Kerala govt launches ‘break the chain’ campaign to combat coronavirus

• The Kerala government has launched a mass handwashing campaign named ‘break the chain’ to combat coronavirus.
• The campaign aims to educate people about the importance of public and personal hygiene.
• Under this campaign, the government has installed water taps at public spots such as at the entry and exit gates of the railway stations with hand wash bottles.
• The Kerala government also urging people to use hand sanitizers when they are outdoors. Sanitisers have also been made available in all offices.

Extra Shots:

Kerala:

• Capital: Thiruvananthapuram
• Chief Minister: Pinarayi Vijayan
• Governor: Arif Mohammed Khan
• Festivals: Onam, Vishu, Thrissur Pooram, Nehru Trophy Boat Race
• National Parks: Anamudi Shola National Park, Eravikulam National Park, Mathikettan Shola National Park, Pambadum Shola National Park, Periyar National Park,Silent Valley National Park
• Wildlife Sanctuaries: Aralam WLS, Chimmony WLS, Idukki WLS, Periyar WLS, Wayanad WLS, Peppara WLS, Neyyar WLS, Kurinjimala WLS, Malabar WLS etc

World’s first commercial flying car PAL-V to be built in Gujarat

• World’s first commercial flying car named ‘PAL-V Liberty’ will be developed in Gujarat, India. PAL-V stands for Personal Air-Land Vehicle.
• The PAL-V Liberty is a combination of a car and an autogiro, or gyroplane.
• A Memorandum of Understanding was signed in the presence of Gujarat Chief Minister Vijay Rupani between state Industries Principal Secretary MK Das and Carlo Maasbommel, vice president of PAL-V’s international business development. Dutch company PAL-V (Personal Air and Land Vehicle) will develop this car.

Details about the Car

• The PAL-V flying car, having two engines, can run at a speed of 160 kilometres on road and can fly at a speed of 180 km.
• The car can turn into a flying vehicle in just three minutes and cover a distance of 500 km on a full tank.

Extra Shots:

Gujarat:

• Capital: Gandhinagar
• Chief Minister: Vijay Rupani
• Governor: Acharya Devvrat
• State formed on: 1 May 1960
• Literacy Rate: 79.31%
• National Park: Vansda NP, Blackbuck NP, Gir Forest NP, Marine NP, Gulf of Kutch

SUMMITS AND CONFERENCES

Virtual G20 leaders summit to be held in March

• Prime Minister Narendra Modi held talks (through telephone call) with the Crown Prince of the Kingdom of Saudi Arabia, His Royal Highness Mohammed bin Salman.
• The two leaders discussed the global situation regarding the COVID-19 pandemic.

Highlights:

• The leaders emphasized the need for coordinated efforts to adequately address the global challenge.
• Discussion on Covid-19, which impacted the health and well-being of several hundred thousand people, was held.
• Prime Minister Modi proposed a virtual conference with the g20 leaders.
• His Highness, Mohammed bin Salman agreed to the exercise at the level of G20 leaders. At present, Saudi Arabia holds the Chair of G20.
• The G20 leaders’ summit will be held in March 2020.
• It is expected that it would be useful at a global scale, both for discussing specific measures to address the challenges posed by the global outbreak of COVID-19 and also to instill confidence in the global populace.

AGREEMENTS AND MOU SIGNED

Manikaran Power becomes the first member to tie up with IGX

• Manikaran Power Ltd (MPL) has become the first member of India’s first gas trading platform which is called the Indian Gas Exchange (IGX).
• IGX is a part of Indian Energy Exchange (IEX). IGX commenced its membership drive in February this year.
• MPL which is already trading member in IEX is the first to join hands with IGX.
• MPL provides an electronic platform for trading of power at Indian Energy Exchange and Power Exchange India Limited, documentation and assistance in bilateral trading of power, REC trading and group captive.
• Its website states that it has close to 2,000 clients in both power trading and RECs.
• Indian Gas Exchange Ltd. (IGX) is India’s first automated national level trading platform to promote and sustain an efficient and robust Gas market and to foster gas trading in the country.

APPOINTMENT

Ravinder singh Dhillion becomes new CMD of Power Finance Corporation

• Ravinder Singh Dhillon has appointed as Chairman and Managing Director of Power Finance Corporation (PFC).
• The Appointments Committee of the Cabinet chaired by Prime Minister Narendra Modi has approved his appointment.
• He will be serving in this post till his superannuation on May 31, 2023.
• He is presently served as a Director (Projects, Public Grievance) in Power Finance Corporation (PFC) Limited.
• Power Finance Corporation Ltd is an Indian financial institution.

Extra Shots:

PFC: Power Finance Corporation has conferred the title of a “Navratna CPSE” in June 2007 and was classified as an Infrastructure Finance Company by the RBI on 28th July 2010.

• Headquarters: New Delhi
• Ministry: Ministry of Power

Bajaj Auto reappoints Rajiv Bajaj as its MD & CEO

• Rajiv Bajaj has been reappointed as MD & CEO of Bajaj Auto.
• The announcement was made after the board meeting of the Bajaj Auto.
• The 5-years tenure of Rajiv Bajaj as the MD & CEO of Bajaj Auto was going to expire on March 31, 2020.
• During the board meeting, Rajiv Bajaj was re-appointed for a period of five years with effect from April 1, 2020.
• Gita Piramal has been appointed as the independent director of Bajaj Auto.

Extra Shots:

Bajaj Auto Limited is an Indian global two-wheeler company and three-wheeler manufacturing company based in Pune, Maharashtra. It manufactures motorcycles, scooters and auto rickshaws. Bajaj Auto is a part of the Bajaj Group. It was founded by Jamnalal Bajaj in Rajasthan in the 1940s.

• Parent organization: Bajaj Group
• CEO: Rajiv Bajaj
• Headquarters: Pune

SPORTS CURRENT AFFAIRS

ATK FC wins record 3rd Indian Super League title

• ATK FC (Football Club) won the ISL (Indian Super League) trophy for the 3rd time following a 3-1 win against Chennaiyin FC in the final match held at the Fatorda Stadium in Goa.
• Javier Hernandez and Edu Garcia were the goal scorers for ATK FC in the final match. ATK (Atlético de Kolkata) is an Indian professional football club based in Kolkata, West Bengal.
• The ATK (Atlético de Kolkata) won the inaugural edition of the tournament in 2014 and added its second title in 2016, beating Kerala Blasters in the final on both occasions.
• Apart from ATK, only two other teams have won the ISL: Bengaluru FC (2018-19) and Chennaiyin (2015, 2017-18).

French Open delayed due to coronavirus pandemic

• The French Open tennis tournament has been postponed by the French Tennis Federation due to the coronavirus pandemic.
• The Grand Slam tournament which was scheduled to be held in the month of May-June, 2020 has been postponed.
• The 2020 edition of Roland Garros (French Open tennis tournament) will now held in the month of September-October 2020.
• The decision has been taken by the French Tennis Federation (FFT) to ensure the health and safety of people involved in the preparation of the tournament.

AWARDS

Prachi Salve, Pradeep Dwivedi won 2019 Road Safety Media Fellowship award

• Prachi Salve of IndiaSpend and Pradeep Dwivedi of DainikJagran jointly won the top prize in the Road Safety Media Fellowship 2019.
• The award recognized their contribution towards reporting on road safety by the Centre for Media Studies (CMS).
• The awardees were selected by a three-member jury.

Other awardees:

• Journalist B. Raveendra Shetty of Vijay Karnataka and Purnima Singh of Times Now Hindi shared the second prize.
• The third prize was jointly won by Kishor Dwivedi, Press Trust of India (PTI), and Sangamesh Menasinakai, The Times of India.

Extra Shots:

CMS:

• CMS is a not-for-profit research think tank. It is supported by the World Health Organization (WHO) India. CMS conducted a three-month fellowship program for journalists. The participating member was directed to work on road safety and related issues in the year 2019.

OBITUARIES

Noted Marathi actor Jairam Kulkarni passes away

• Noted Marathi Actor Jairam Kulkarani passed away.
• He was born in Barshi tehsil in Solapur district, Maharashtra.
• He had acted in more than 150 films, including ‘Chal Re Laxya Mumbaila’, ‘Ashi Hi Banwabanwi’, ‘Thartharat’, ‘Rangat Sangat’ and his last movie was “Khel Aayushyacha” was released recently.
• Kulkarni had worked in Akashwani in Pune where he came into contact with personalities from the fields of literature, theatre and film.

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