Rajya Sabha passed Carriage by Air
(Amendment) Bill, 2015
03-MAR-2016
Rajya Sabha on 3 March 2016 passed the Carriage by Air (Amendment) Bill, 2015. The bill seeks to empower Union government to revise the limits of liability for airlines and compensation as per the Montreal Convention.
With this, both the Houses of Parliament passed the bill that was introduced in Lok Sabha on 7 August 2015 by the Union Minister of Civil Aviation P Ashok Gajapathi Raju. Lok Sabha passed the bill in December 2015.
Highlights of the Bills
• The Bill amends the Carriage by Air Act, 1972 which regulates carriage by air and gives effect to the Warsaw Convention, 1929, the Warsaw Convention as amended by The Hague Protocol, 1955, and the Montreal Convention, 1999.
• It also provides for application of the international aviation travel rules to domestic travel, subject to exceptions and adaptations.
• It empowers Union government to revise the limits of liability for airlines and compensation as per the Montreal Convention.
• It empowers Union Government to make rules to carry out provisions of the Act.
• It intends to increase the liability limit for damage in case of delay, injury or death to each person.
• It also intends to revise the liability limits in case of damage, loss, or delay of baggage and cargo as per global counterparts.
The bill will now go for the Presidential assent as per Article 111 of the Indian Constitution.
Whitfield Diffie and Martin Hellman
won ACM 2015 A M Turing Award
03-MAR-2016
Whitfield Diffie and Martin Hellman on 1 March 2016 were honoured with the Association for Computing Machinery's 2015 A.M. Turing Award.
Diffie and Hellman were given the award for their fundamental contributions to modern cryptography. Their groundbreaking 1976 paper, New Directions in Cryptography, introduced the ideas of public-key cryptography and digital signatures, which are the foundation for most regularly-used security protocols on the internet at present.
Who is Whitfield Diffie?
• Whitfield Diffie is a former Vice President and Chief Security Officer of Sun Microsystems.
• A graduate of the Massachusetts Institute of Technology (MIT), he received the 1996 ACM Paris Kanellakis Theory and Practice Award (with Leonard Adleman, Martin Hellman, Ralph Merkle, Ronald Rivest and Adi Shamir), and received the 2010 IEEE Richard W. Hamming Medal (with Martin Hellman and Ralph Merkle).
• He is a Marconi Fellow, a Fellow of the Computer History Museum and received an honorary doctorate from the Swiss Federal Institute of Technology.
Who is Martin Hellman?
• Martin E. Hellman is Professor Emeritus of Electrical Engineering at Stanford University.
• A graduate of New York University, he earned his Master's degree and his Ph.D. from Stanford.
• He received the 1996 ACM Paris Kanellakis Theory and Practice Award (with Leonard Adleman, Whitfield Diffie, Ralph Merkle, Ronald Rivest and Adi Shamir), as well as the 2010 IEEE Richard W. Hamming Medal (with Whitfield Diffie and Ralph Merkle).
• He is a Marconi Fellow, a Fellow of the Computer History Museum, and a member of the US National Academy of Engineering.
About ACM A. M. Turing Award
• The ACM A.M. Turing Award is an annual prize given by the Association for Computing Machinery (ACM).
• It is given to an individual selected for contributions of a technical nature made to the computing community.
• The Turing Award is generally recognized as the highest distinction in computer science and is considered the Nobel Prize of computing.
• The award is named after Alan Turing, mathematician and reader in mathematics at the University of Manchester.
• The award carries a 1 million US dollar prize with financial support provided by Google, Inc.
• The first recipient, in 1966, was Alan Perlis, of Carnegie Mellon University.
• Frances E. Allen of IBM, in 2006, was the first female recipient in the award's 40-year history.
Mrugank Paranjape appointed as MD
and CEO of MCX
03-MAR-2016
Multi Commodity Exchange of India Ltd (MCX), the country's largest commodity exchange, on 29 February 2016 appointed Mrugank Paranjape as its Managing Director (MD) and Chief Executive Office (CEO).
The appointment of Paranjape is valid for a period of three years, subject to prior approval from SEBI.
Since May 2014, the exchange was functioning without an MD. P K Singhal was handling the affairs of the exchange as joint MD.
Who is Mrugank Paranjape?
• Mrugank Paranjape has been working with Deutsche Bank since last 14 years.
• At present, he is the India Head of Deutsche Bank.
• He has also served as the Asia Pacific Head of Trust & Securities Services/Cash Management for Financial Institutions and Regional Head of Securities for The Global Network Banking Division, Deutsche Bank (Malaysia) Berhad.
About Multi Commodity Exchange of
India Ltd
• MCX is an independent commodity exchange based in India.
• It was established in 2003 and is based in Mumbai.
• In 2009, it was the world's sixth largest commodity exchange.
• It is India's No. 1 commodity exchange with 84% market share in 2014-15.
• The exchange's main competitor is National Commodity & Derivatives Exchange Ltd.
Who was Shivaji? authored by Govind
Pansare
03-MAR-2016
Who was Shivaji?: Govind Pansare
Book titled “Who was Shivaji?” authored by Govind Pansare came in news in first week of March 2016. It came in news because of Shiv Jayanti, the birth anniversary of Chhatrapati Shivaji Maharaj, which was celebrated across Maharashtra on 19 February 2016.
Introduction of the book was written by Anirudh Deshpande and Afterword was written by Prabhat Patnaik.
The book focuses on historic evidences which are mostly ignored or overshadowed by other historic adventures of Shivaji. It also provides a new perspective on a popular hero of Indian history, which is very important to understand the great personality of the King.
The book questions the way in which dominant Maratha historiography enforced modern, that is, colonial and post-colonial, religious categories on a past where people lived and did things differently compared with the age of modernity.
The authors through the book have tried to rationally re-interpret the facts of Shivaji’s career and show how anyone can interrogate the past.
Delhi became first state to launch HPV
vaccine as public health programme in
schools
03-MAR-2016
Delhi on 29 February 2016 became the first state in the country to launch the Human Papillomavirus (HPV) vaccine as a public health programme for school children.
The HPV vaccine protects people against the group of 150-odd HPVs, some of which can cause cervical cancer.
Key highlights of the programme
• As part of the programme, girls studying in Class VI in government schools will be targeted in the first year. This will be completed in the current academic year over two phases.
• The programme will target 1-1.5 lakh girls in the first phase.
• Children will be given two doses of the vaccine. The first and the second doses will be administered within 30 days of each other.
• A third booster dose will be given within 240 days of the first vaccine, which will be covered in the next phase.
• The Delhi Government will purchase the vaccines from GlaxoSmithKline (GSK) and MSD Pharmaceuticals at a subsidised cost of 450 rupees per dose.
About Human Papillomavirus
• Human papillomavirus is a DNA virus from the papillomavirus family that is capable of infecting humans.
• Like all papillomaviruses, HPVs establish productive infections only in keratinocytes of the skin or mucous membranes.
• Most HPV infections are subclinical and will cause no physical symptoms; however, in some people subclinical infections will become clinical and may cause benign papillomas, premalignant lesions that will drive to cancers of the cervix.
• In particular, HPV16 and HPV18 are known to cause around 70% of cervical cancer cases.
• Researchers have identified over 170 types of HPV, more than 40 of which are typically transmitted through sexual contact and infect the anogenital region.
South Korea passed anti-terror bill
03-MAR-2016
South Korea's parliament on 2 March 2016 passed the country's first anti-terror bill.
Among almost 300 parliamentary seats, only 156 ruling Saenuri Party lawmakers and one minority party member participated in a vote on the country's first anti-terrorism legislation, which was passed through the National Assembly with 156 in favour.
The country's filibuster, invoked for the first time in 38 years, was aimed at blocking the passage of the bill which triggered fears that it may grant excessive power to the National Intelligence Service (NIS).
A total of 38 opposition lawmakers participated in the filibuster that ran for 192 hours and 25 minutes.
Key highlights of the proposed bill
• The security bill proposes to set up a new anti-espionage unit reporting to the chief of the country's spy agency and will coordinate surveillance, analysis and investigation into leads that point to a possible attack.
• It will allow the NIS agents to collect personal information, location and conversation in mobile phones from suspected terrorists, while enabling the agency to track bank accounts and immigration records of the suspects.
However, the opposition objects to greater power for the spy agency and seeks to scrap a bill provision that would authorize the intelligence agency to monitor private communications.
World Wildlife Day observed with
theme The future of wildlife is in our
hands
03-MAR-2016
3 March: World Wildlife Day
World Wildlife Day was observed on 3 March 2016 across the world. 2016 theme is “The future of wildlife is in our hands”, with African and Asian elephants being the main focus of global campaigns.
World Wildlife Day is an opportunity to celebrate the many beautiful and varied forms of wild fauna and flora and to raise awareness of the multitude of benefits that conservation provides to people. The Day reminds us of the urgent need to step up the fight against wildlife crime, which has wide-ranging economic, environmental and social impacts.
At the same time, 2016 theme reinforces the inextricable link between wildlife, people and sustainable development. It says that it is the responsibility of each generation to safeguard wildlife for the following generation. It also imparts the pressing need for national action to ensure the survival in the wild of both charismatic and lesser known species.
The United Nations General Assembly (UNGA) at its 68th session held on 20 December 2013 decided to proclaim 3 March as World Wildlife Day. The date is the day of the adoption of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) in 1973. CITES plays an important role in ensuring that international trade does not threaten the species’ survival.
CCEA approved winding up of National
Manufacturing Competitiveness
Council
03-MAR-2016
The Cabinet Committee on Economic Affairs (CCEA) on 2 March 2016 gave its approval for winding up of National Manufacturing Competitiveness Council (NMCC) with immediate effect. The Council was winded up as it has fulfilled the mandate for which it was constituted.
Dr. V Krishnamurthy, the former Chairman of the Council resigned from the post on 28 May 2014. Ajay Shankar, IAS (Retd.) demitted office as Member-Secretary of the Council upon expiry of his tenure on 22 November 2014.
In the absence of a Chairman and no fresh constitution, the NMCC had become non-functional.
National Manufacturing
Competitiveness Council (NMCC)
The NMCC was established in 2004 as a part of the Common Minimum Programme (CMP) of erstwhile government to provide a continuing forum for policy dialogue to energize and sustain the growth of manufacturing industry.
It was set up as an autonomous organization with its Chairman in the rank of a Cabinet Minister and members from Government and Industry.
Since its inception in 2004, NMCC conducted various studies independently in consultation with several Government Ministries/Departments and also industry association, and shared these studies/reports with the Ministries/Departments concerned during the decade of its functioning.
Forbes list of World Billionaires 2016
released
03-MAR-2016
Forbes list of World Billionaires 2016 was released on 1 March 2016. In its 30th annual guide to the world’s richest, Forbes found 1810 billionaires in 2016 compared to 1826 in 2015.
Bill Gates remained as the richest person in the world with a net worth of 75 billion US dollars. He has been No. 1 for 3 years in a row and topped the list 17 out of 22 years.
Facebook CEO, Mark Zuckerberg and Head of Amazon, Jeff Bezos made their first appearance in the top ten of Forbes’ annual ranking of the world’s wealthiest.
The 31-year-old Zuckerberg added 11.2 billion US dollars in this year and moved up to No. 6 from 16.
Forbes list of top 10 World Billionaires
2016
|
Rank |
Name |
Net Worth in Billion Dollars |
Source |
Country of Citizenship |
|
1 |
Bill Gates |
75 |
Microsoft |
United States |
|
2 |
Amancio Ortega |
67 |
Zara |
Spain |
|
3 |
Warren Buffett |
60.8 |
Berkshire Hathaway |
United States |
|
4 |
Carlos Slim Helu |
50 |
telecom |
Mexico |
|
5 |
Jeff Bezos |
45.2 |
Amazon.com |
United States |
|
6 |
Mark Zuckerberg |
44.6 |
|
United States |
|
7 |
Larry Ellison |
43.6 |
Oracle |
United States |
|
8 |
Michael Bloomberg |
40 |
Bloomberg LP |
United States |
|
9 |
Charles Koch |
39.6 |
diversified |
United States |
|
9 |
David Koch |
39.6 |
diversified |
United States |
India was the country with the fourth highest number of billionaires. The United States was first with 540 followed by China with 251 and Germany with 120.
Forbes list of top 10 Indian Billionaires
|
S.No |
Name |
Net Worth in Billion Dollars |
Overall Rank in Forbes List |
Source |
|
1 |
Mukesh Ambani |
19.3 |
36 |
Reliance Petrochemicals, Oil & Gas |
|
2 |
Dilip Shanghvi |
16.7 |
44 |
Pharmaceuticals |
|
3 |
Azim Premji |
15 |
55 |
Wipro Software Services |
|
4 |
Shiv Nadar |
11.1 |
88 |
HCL Software Services |
|
5 |
Cyrus Poonawalla |
8.5 |
133 |
Vaccines |
|
6 |
Lakshmi Mittal |
8.4 |
135 |
Steel |
|
7 |
Uday Kotak |
6.3 |
184 |
Banking |
|
8 |
Kumar Birla |
6.1 |
196 |
Commodities |
|
9 |
Sunil Mittal |
5.7 |
219 |
Telecom |
|
10 |
Desh BandhuGupta |
5.5 |
233 |
Pharmaceuticals |
Coronation Street creator Tony Warren
died
03-MAR-2016
Tony Warren, creator of television’s longest-running soap opera Coronation Street, passed away on 1 March 2016 after a short illness. He was 79.
Warren created the ITV soap in 1960 based in the fictional district of Weatherfield in Greater Manchester.
About Tony Warren
• Born on 8 July 1936 as Anthony McVay Tony Simpson, Warren was also an actor and created other television dramas and wrote critically acclaimed novels.
• He attended Clarendon Road Primary School and Eccles Grammar School.
• He trained at the Elliott-Clarke theatre school in Liverpool.
• He adopted Warren as a stage name in his early acting career.
• He became a regular on BBC Radio Children's Hour and acted in many radio plays, performing with many actors who became household names through Coronation Street.
• In 1994, he was appointed a Member of the Order of the British Empire.
• He made a cameo appearance in the 50th anniversary live episode of Coronation Street in December 2010.
Poet Dr Bhagwati Lal Vyas selected for
2015 Bihari Puraskar
03-MAR-2016
Eminent poet Dr Bhagwati Lal Vyas was chosen for the 2015 Bihari Puraskar on 2 March 2016. He was chosen for the award for his anthology of Rajasthani poems 'Katha Sun Aawe Hai Sabad'.
A recipient of Sahitya Akademi Award, Dr Vyas through his poetry has highlighted the increasing tendencies of commercialization and degradation of human values.
About Dr Bhagwati Lal Vyas
• His works reflect the unpleasant changes in human relations, social disparity and loss of human values although positivity and his faith in human life also shine through the vast collection of his poetry.
• He has authored several short stories and poems and his acclaimed works include Shatabdi Niruttar (1977), Footpath Par Chiriya Nachti Hai (1984) and Suraj Leelti Ghatiyan.
• He was born on 10 July 1941 in village Gilund of Raj Samand district of Rajasthan.
• He retired as Principal of RNT College of Teacher Education in Chittorgarh district of Rajasthan.
About the Bihari Puraskar
• Bihari Puraskar was instituted by KK Birla Foundation in 1991 and is named after the famous Hindi poet Bihari
• It is given on a yearly basis to the Rajasthani writers for their literary works in Rajasthani or Hindi published in last 10 years.
• The award carries a cash prize of 1 lakh Rupees, a citation and a plaque.
• Apart from original residents of Rajasthan, it is open to those living in the state for the last seven years or more.
The selection for the award was made by a six-member Committee. The Chairman of the Committee is appointed by the President of the Foundation, Shobhana Bhartia.
Former NZ cricket captain Martin
Crowe died
03-MAR-2016
Former New Zealand captain Martin Crowe died due to cancer on 3 March 2016 in Auckland. He was 53.
The ex-Black Caps batsman had been suffering from lymphoma, a cancer of the immune system.
Auckland-born Crowe is widely regarded as one of New Zealand's best ever batsman, having scored 17 centuries and 5444 runs in 77 tests at an average of 45.36.
Crowe captained the Kiwis in 16 Test matches and his highest score was 299 against Sri Lanka in Wellington in 1991. He was named one of Wisden's Cricketers of the Year in 1985 and was player of the tournament in the 1992 World Cup after scoring 456 runs in nine matches.
WEF released Global Energy
Architecture Performance Index
Report 2016
03-MAR-2016
World Economic Forum (WEF) on 2 March 2016 released the fourth edition of the Global Energy Architecture Performance Index Report 2016 (EAPI) compiling 126 countries. India has been ranked at 90thposition which is topped by Switzerland.
The annual index provides a benchmark to help countries address energy transformation challenges and identify opportunities across their energy systems.
It explored the energy architecture of 126 countries based on their ability to provide energy access across three dimensions of the "energy triangle" affordability, environmental sustainability, security and access.
WEF prepared the report in collaboration with Accenture which noted that large emerging economies are pressed both by the need to support economic growth and build resilient and sustainable energy architecture.
Highlights of the Report
• The list was topped by Switzerland followed by Norway and Sweden in the second and third place, respectively while, India stood at 90.
• Others in the top 10 include France (4), Denmark (5), Austria (6), Spain (7), Colombia (8), New Zealand (9) and Uruguay (10).
• Among the BRIC nations, Brazil was the top performer as it was ranked at the 25th place, followed by Russia (52), India (90), and China (94).
• Among other major economies Germany was ranked at the 24th place, while the United States was at the 48 rank and Japan was at the 50 rank.
• World energy production and imports rose by 3200 million tonnes of oil equivalent over the last decade driven by the boom in the Asian economies and led by China and India.
• As a result, fuel trade patterns have dramatically changed during this period. In particular, Asia accounted for less than 20 per cent of the world fuel trades in 2004, but this figure has sharply risen to 35 per cent in 2014, leading to a redistribution of forces and new alliances around the world, it said.
Regarding India
Placing India at 90th position, the report noted that the country is facing challenges that include the need to increase energy delivery to meet its growth targets and expand access to energy. Nevertheless, electrification has progressed and is now accessible to 79 percent of the population.
The need to become more energy-efficient, more diverse and less carbon-intensive is especially acute for major emerging economies, making it critical to progress with government responses to these pressures through energy reform.
Manoj Kumar to be conferred
Dadasaheb Phalke Award for the year
2015
04-MAR-2016
Veteran Film Actor and Director Manoj Kumar will be conferred the 47th Dadasaheb Phalke Award for the year 2015.
A five member jury consisted of Lata Mangeshkar, Asha Bhosle, Salim Khan, Nitin Mukesh and Anup Jalota unanimously recommended Kumar for the prestigious Award.
Manoj Kumar is remembered for his films Hariyali Aur Raasta, Woh Kaun Thi, Himalaya Ki God Mein, Do Badan, Upkaar, Patthar Ke Sanam, Neel Kamal, Purab Aur Paschim, Roti Kapda Aur Makaan, and Kranti. He is known for acting in and directing films with patriotic themes.
He is a recipient of National Film Award for the film Upkaar. In 1992, he was honoured with the third highest civilian award Padma Shri by the Government of India.
About the Award
The award is given by the Government of India for outstanding contribution to the growth and development of Indian Cinema. The Award consists of a Swarn Kamal, a cash prize of 10 lakhs rupees and a shawl.
The 46th Dadasaheb Phalke Award was awarded to the veteran actor Shashi Kapoor for the year 2014.
Vineet Taneja resigned as CEO of
Micromax Informatics Limited
04-MAR-2016
Vineet Taneja on 1 March 2016 resigned as the Chief Executive Officer (CEO) of Micromax Informatics Ltd. Taneja’s departure was the second high-profile exit from the company with a span of one year.
Earlier, in October 2015, Bharti Airtel CEO Sanjay Kapoor resigned as the chairman of the company.
Taneja joined Micromax from Samsung Electronics’ Indian business arm in 2014. His appointment came in the backdrop of company’s plans to expand its operations abroad.
About Micromax Informatics Limited
• At present it is India’s second-largest phone manufacturer and the 10th largest mobile phone player in the world.
• The Gurgaon-based company is the first to introduce many features in mobile handsets in India.
• The features include the 30-day battery backup, Dual SIM Dual Standby phones, QWERTY keypads, universal remote control mobile phones and first quad-core budget smart phone.
UN human rights experts urged US to
increase efforts to address water
contamination in Flint
04-MAR-2016
Flint: A place in Michigan, US affected with lead-contaminated water
Flint, Michigan of United States was in news on 3 March 2016. It was in news because, a group of human rights experts of United Nations urged the country to protect the rights of children and others who are most at risk of lead-contaminated water.
Flint is a place wherein majority of the population is predominantly African-American, and many residents live below the poverty line. This has drawn international attention to the toxic threats faced by children, particularly minority and poor communities across the country. The experts noted that lead is only one of many toxic chemicals to which residents in those communities are often disproportionately exposed.
The minorities across the US comprise nearly half the population living near potential sources of toxic emissions, the experts said that some 1.6 million children under the age of five live in hazardous areas where their bodies are particularly vulnerable to adverse health impacts of toxic chemical exposure.
Nearly twice as many African-American children across the country have high levels of lead in their blood as compared with white children, 5.6 percent versus 2.4 per cent, respectively.
In this light, the experts recommended US President Barack Obama for declaring a Federal state of emergency to accelerate the distribution of bottled water and filters in Flint.
Fixed! Cash and Corruption in Cricket
authored by Journalist Shantanu Guha
Ray
04-MAR-2016
Fixed! Cash and Corruption in Cricket: Shantanu Guha Ray
Fixed! Cash and Corruption in Cricket authored by journalist Shantanu Guha Ray was in news in the first week of March 2016. It examines the allegations of corruption against players, cricket administrators and bookies alike.
The book rifled through the underbelly of cricket, analysed the spot-fixing and nexus of bookies and punters with those in the corridors of power, mysterious deaths and issues that threatened the gentleman's game.
The author interviewed many people who were the middle men, agents, 'friends of IPL franchise owners who were around the players' dressing rooms. These are the people who placed bets on games and enticed cricketers to reveal inside information for money, sex or, worse, fear for their lives.
The author in his book said that despite the cricket being almost next to religion in India, the Union Government did not take it serious on the issue of corruption in it to discuss in Parliament.
According to the author, the betting industry became extremely secretive and complex network that works at various levels.
The book talks about the two recent cases in Mumbai, bookies camouflaged themselves as members of an investor forum discussing the ills of real estate business in the city.
He penned that the network of bookies runs very, very deep across the world.
RBI released Draft Directions for Non-
Banking Financial Company - Account
Aggregator
04-MAR-2016
The Reserve Bank of India on 3 March 2016 released Non-Banking Financial Company - Account Aggregator Directions, 2016.
The NBFC-AA Directions will put in place the regulatory framework to allow a new kind of Non-Banking Financial Company (NBFC), which could act as an account aggregator.
The announcement of draft directions is in tune with July 2015 announcement of the RBI regarding creation of a separate category of NBFC called Non-Banking Financial Company - Account Aggregator (NBFC-AA) to provide account aggregation services.
As per the directions, the RBI will regulate and supervise the activity of account aggregation with a view to ensuring that the services provided and the terms at which these are provided conform to prescribed standards.
Highlights of NBFC-AA Directions, 2016
• Only companies registered with the Reserve Bank as NBFC – AA will be able to undertake the business of an account aggregator.
• Entities being regulated by other financial sector regulators and aggregating only those accounts relating to the financial assets of that particular sector will not need to register with the Reserve Bank.
• The Net Owned Fund of such companies should not be less than 2 crore rupees.
• An account aggregator will not be able to undertake any other business other than the business of account aggregator.
• Business of an account aggregator will entirely be Information Technology (IT) driven.
• Initially, only financial assets whose records are stored electronically and are under the regulation of the financial sector regulators, namely, RBI, SEBI, IRDA, and PFRDA shall be considered for aggregation.
• Account aggregation services will be provided under specific application by the customer for availing such services and would be backed by appropriate agreements/ authorisations.
• Pricing of services would be as per the account aggregator’s Board approved policy.
• No financial asset related customer information pulled out by the account aggregator from the financial service providers should reside with the account aggregator.
• An account aggregator will not support transactions in financial assets.
About Account Aggregator
At present, persons holding financial assets, such as, savings bank deposits, fixed deposits, mutual funds, insurance policies, etc do not get a consolidated view of their financial asset holdings.
This problem is compounded when the entities fall under the purview of different financial sector regulators.
Account aggregators would fill this gap by collecting and providing the information of customers’ financial assets in a consolidated, organised and retrievable manner to the customer or any other person as per the instructions of the customer.
As per the draft directions, the investors will be able to avail the service of an Account Aggregator purely at their option.
Union Government signed Agreement
to provide a loan of 1000 crore rupees
to FACT
04-MAR-2016
Union Government on 3 March 2016 signed a memorandum of agreement (MoA) to provide a loan of 1000 crore rupees to the Fertilizers and Chemicals Travancore (FACT) Limited, a Central Public Sector Undertaking (CPSU).
As per this MoA, FACT will be getting a loan of 1000 crore rupees, to be repaid with interest within a period of five years, with a moratorium of one year.
The loan will be provided with an aim to revive the organisation which has been facing financial crunch for more than a decade. This loan will ease its liquidity crisis. The new resources will be helpful in clearing long pending dues of the Company, and facilitate much needed working capital, as well as for augmenting production.
This will help FACT to maintain production at optimum level on a sustainable basis in the coming years.
The company is initiating steps to enhance the production capacity of Factamfos by setting up a new stream of production of 1000 tonnes per day at FACT’s Cochin Division at Ambalamedu in Kochi.
Fertilisers and Chemicals Travancore
(FACT) Limited
FACT is a CPSU based in Kochi and has business interests in manufacturing and marketing of fertilizers, caprolactam, engineering consultancy and fabrication of equipments.
Units of FACT include the two manufacturing divisions Udyogamandal Complex-UC and Cochin Division-CD, the consultancy unit FACT Engineering and Design Organization-FEDO, the fabrication division FACT Engineering Works-FEW and the Marketing Division. The Company has also interests in petrochemicals, hydrometallurgy, chemicals and pharmaceuticals.
Incorporated in 1943, by Maharajah Sree Chithira Thirunal Balarama Varma, FACT is one of the oldest fertilizer companies of the country and provides employment to over 2700 persons directly or indirectly, over 30000 families are associated with the Company, and it caters to the needs of lakhs of farmers of South India.
Flipkart launched its own digital wallet
Flipkart Money
04-MAR-2016
Flipkart on 3 March 2016 launched its own digital wallet Flipkart Money that can be used for Flipkart only transactions.
It aims to have a more organized method of payment and cutting significant costs related to handling cash on product returns.
Features of Flipkart Money
• Flipkart Money was launched on the company's Android app, where users can hold a balance of 10000 rupees at a time.
• Cash can be withdrawn from the wallet to the cards or the bank account.
• Money is part of Flipkart Wallet, which includes the biggest seller on Flipkart, WS Retail Credit, gift cards and other bank cards saved on the online retailer's platform.For the first time, Flipkart tried to enter the e-wallet market in 2011 but due to RBI regulations, it was only able to hold transactions for WS Retailers only. Once again, it tried launching its own e-wallet in July 2013 by the name PayZippy, but proved to be unsuccessful when applied for the license. It was shut down in November 2014.
The launch of Filpkart Money is an opportunity for Flipkart to tap the growing market and compete with rivals like PayTM and MobiKwik. There are about 135 million wallet users with PayU Money, Paytm, MobiKwik, Oxigen and My Mobile Payments capturing around 70 percent of the market revenue.
Ad platform with 50 brands launched
Besides, Flipkart launched its own ad platform with 50 brands which came up with Brand Story Ads. The brands that have signed up for the ad campaigns include Yes Bank, L'Oreal, Micromax, Intel, Gillette, Datsun and Sony.
With Brand Story Ads, Flipkart is offering a platform where the brands can target and engage with largest qualified commerce audience in the country at the right time for the right intent.
The company positions Brand Story Ads as an interactive story format with content images and product guides that enables brands to tell their stories in a crisp and impactful manner.
National Safety Day and National
Safety Week observed
04-MAR-2016
4 March: National Safety Day
National Safety Day was observed across India on 4 March 2016. The day is annually organised by the National Safety Council (NSC) to commemorate its establishment and enhance the safety awareness among people.
It is a national movement carried out on annual basis to prevent and lessen the loss of life including various human being problems and their financial loss through availing them with safety, health and environment related support services.
National Safety Council of India is a self-governing body (non profit and nongovernmental organization for public service) which was established on 4 March 1966 under the Societies Act in Mumbai, having over 8000 members.
It makes people aware about how to get prevented from the industrial accidents by exhibiting widespread safety awareness programmes in public sectors, which have not been covered by safety legislation.
Apart from this, to create awareness about safety, NSC will also celebrate National Safety Week from 4 March to the 10 March 2016. During whole week campaign celebration, varieties of specific activities are displayed to the people as per the safety requirements.
All-India Forward Bloc leader Ashok
Ghosh died
04-MAR-2016
Veteran All-India Forward Bloc leader Ashok Ghosh died on 3 March 2016 in Kolkata. He was 93.
He created a record of sorts by remaining the head for over six decades to the Bengal unit of Forward Bloc. The Bloc was founded by Netaji Subhas Chandra Bose on 3 May 1939.
About Ashok Ghosh
• He was born on 2 July 1923 at Chinsurah Hooghly in West Bengal.
• He joined the All-India Forward Bloc in 1941 by getting influenced by Netaji Subhas Chandra Bose.
• He was elected as the state secretary of the Forward Bloc on 22 June 1951 and held the same for over a record sixty years.
• He, along with Jyoti Basu played an important role in the formation of the first Left Front government in 1977, which was in power till 2011 for almost 34 years.
• He was well known for his Spartan lifestyle and affable personality and his popularity is across party lines. He was well respected even by his opponents.
UNHCR, UNICEF launched Blue Dot
hubs to protect children & families on
move across Europe
04-MAR-2016
UNHCR, UNICEF on 26 February 2016 launched a Twenty Child and Family Support Hubs, known as Blue Dots. These support centers will acts as a special support centers for children and families along the most frequently used migration routes in Europe.
They will also help in protecting the growing numbers of children and others with specific needs arriving in Europe.
Key characteristics of Blue Dot hubs
• The hubs aim to support vulnerable families on the move, especially the many unaccompanied or separated children at risk of sickness, trauma, violence, exploitation and trafficking.
• The hubs will be located in selected strategic sites - border entry/exit points, registration sites, some strategic urban centres - as well as through mobile/outreach teams.
• The first hubs are now operational or about to open in Greece, the Former Yugoslav Republic of Macedonia, Serbia, Croatia and Slovenia.
• All the 20 Blue Dot hubs will be operational within the next three months.
• The services to be provided by these hubs include
(i) Restoring family links - services provided by the Red Cross and Red Crescent network
(ii) Family reunification
(iii) Child friendly space and dedicated mother and baby/toddler spaces
(iv) Private rooms for counseling
(v) Psychosocial first aid
(vi) Legal counseling
(vii) Safe spaces for women and children to sleep
(viii) Outreach social workers
(ix) Information desk with Wi-Fi connectivity
• Under these centers children and their families will be provided safe space, vital services, play, protection and counseling in a single location.
When Blue Dot hubs arecreated?
Blue Dot Hubs are created at a time when women and children account for two thirds of those crossing to Europe. In February, women and children made up nearly 60 percent of sea arrivals compared to 27 percent in September 2015.
These hubs identify and protect children and adolescents travelling alone, and reunite them with family wherever possible, depending on their best interests. These hubs also provide protection they need in an unfamiliar environment, where they may be at risk.
World's costliest train station opened
in New York at 9/11 site
04-MAR-2016
World's most expensive train station, the World Trade Centre Transportation Hub, opened on 3 March 2016 in New York, the United States of America.
Santiago Calatrava, the Spanish-Swiss architect who unveiled his ambitious design 12 years ago, removed a barrier at the entrance of the Oculus, a giant oval hall with walls of steel ribs and glass.
Built next to the site of the destroyed Twin Towers, the World Trade Centre Transportation Hub is expected to eventually serve more than 200000 daily commuters.
Initially budgeted at 2 billion US dollars, the station ended up costing 3.85 billion US dollars that earned it the title of the most expensive station in the world.
The building has an elliptical shape. The space measures 107 metres long by 35 metres at its widest point.
Former Lok Sabha Speaker Purno
Agitok Sangma died
04-MAR-2016
Former Lok Sabha Speaker Purno Agitok Sangma died on 4 March 2016. He was 68 years old. He is survived by daughter Agatha Sangma, former Minister of State in the UPA-led Government and Conrad Sangma, the Leader of the Opposition in the Meghalaya Legislative Assembly.
In independent India’s history, he was the first tribal person to hold the post of cabinet minister in 1995. He was also the first tribal person to become the Lok Sabha Speaker in 1996.
About P A Sangma
• He was an Indian politician and Speaker of the Lok Sabha between 1996 and 1998. In independent India’s history, he was the first member from the Opposition to hold the office of the Speaker.
• In the course of his career, he worked as a lecturer, a lawyer and a journalist before he joined politics.
• Till the formation of the Nationalist Congress Party (NCP) along with Sharad Pawar and Tariq Anwar in 1999, he was part of the Indian National Congress.
• He also founded National People's Party on 6 January 2013 with Book as its National symbol.
• He was a member of the Lok Sabha for nine terms – in the 6th, 7th, 8th, 10th, 11th, 12th, 13th, 14th and 15th Lok Sabha.
• At the time of death, he was representing the Tura (ST) constituencyin the West Garo Hills district of Meghalaya.
• He held various portfolios as part of the Union Council of Ministers including in the Ministries of Labour, Commerce and Industry, Home Affairs, Information and Broadcasting and Ministry of Coal.
• Among the positions he held in various ministries, his stint in the Ministry of Labour earned him much respect especially during initial phase of the liberalization, privation and globalization period in which labour related issues became sensitive.
• As the Union Labour Minister, he headed the Tripartite Indian Delegation to the International Labour Conference in Geneva six times where he proved his mettle repeatedly.
• He was also elected the Chairman of the Asia and Pacific Region for the International Labour Ministers' Conference, 1994-95.
• He organised a Conference of Labour Ministers from Non-aligned and other Developing Countries in 1994-95.
• He was the Chief Minister of Meghalaya between 1988 and 1990. He headed a 48-member Coalition Government in a tumultuous period in the State's political history.
• He unsuccessfully contested Presidential election in which he was defeated by Pranab Mukherjee in 2012.
• During his Speakership, he convened a Special Session of both the Houses of Parliament from 26 August to 1 September 1997 as part of the Golden Jubilee Celebrations of India's Independence.
• Opening the Special Session, for the first time in the Indian parliamentary history, the Speaker addressed the House.
• He was closely associated with various social organisations and educational institutions.
• He was the Editor of a Meghalaya daily, Chandambeni Kalrang. He has also edited two volumes of the book India in ILO.
• In March 1997, he received the Michael John Roll of Honour of the Tata Workers' Union for Distinguished Contribution to the Cause of Labour and to the Parliamentary System.
• He also received from the President of India in May 1997 the Golden jubilee Award of the Indian National Trade Union Congress (INTUC)for outstanding contribution to the cause of the working class.
• He was born on 1 September 1947 in village Chapathi in West Garo Hills, Meghalaya.
Prime Minister launched Setu
Bharatam project to make National
Highways free of Railway crossings
04-MAR-2016
Prime Minister Narendra Modi on 4 March 2016 launched the Setu Bharatam project. The project aims to make all national highways free of Railway crossings by 2019.
Under the project, 208 places have been identified for construction of rail over-bridges (ROB) or underpasses. Nearly 10200 crore rupees will be spent on it.
The details of 208 ROBs are as follows in descending order
- Andhra Pradesh - 33
- West Bengal - 22
- Bihar - 20
- Karnataka - 17
- Maharashtra & Assam - 12 each
- Jharkhand - 11
- Punjab & Haryana - 10 each
- Rajasthan, Tamil Nadu & Uttar Pradesh - 9 each
- Gujarat - 8
- Madhya Pradesh -6
- Chattisgarh & Himachal Pradesh - 5 each
- Kerala & Odisha - 4 each
- Utarakhand - 2
Detailed Project Reports have already been received for 73 ROBs and of these 64 ROBs are likely to be sanctioned with an estimated cost of 5600 crore rupees by the end of financial year 2015-16.
As per Road and transport Ministry, there are around 1500 bridges that are over 50 to 60 years old. The Ministry has prepared a plan to demolish such bridges and rebuild new ones with more capacity. The cost of rebuilding the old bridges is expected to be about 30000 crore rupees.
Further, the Union Ministry of Road Transport & Highways has also established an Indian Bridge Management System (IBMS) at the Indian Academy for Highway Engineer in Noida, U.P. The aim is to carry out conditions survey and inventorization of all bridges on National Highways in India by using Mobile Inspection Units.
CCS cleared proposal to acquire two
more AWACS
04-MAR-2016
Cabinet Committee on Security (CCS) on 1 March 2016 cleared the proposal to acquire two more Phalcon Airborne Early Warning and Control Systems (AWACS). These surveillance aircraft will be bought at an expense of 7500 crore rupees under a tripartite agreement with Israel and Russia.
The decision to this effect was taken ahead of Prime Minister Narendra Modi’s visit to Israel later in 2016. His visit to Israel will be the first by an Indian Prime Minister.
AWACS are advanced radars mounted on an aircraft to give 360 degree coverage to detect incoming aircraft and missiles at long ranges. It can help monitor the military build-up, troop and aircraft movements nearly 200 km while flying.
India had procured three Phalcon AWACS, Israeli radars mounted on Russian IL-76 transport aircraft, in 2003 at cost of 1 billion dollars. These AWACS were inducted in Indian Air Force in January 2009.
Mumbai U-23 team clinched CK Nayudu
Trophy 2015-16
04-MAR-2016
The Mumbai under-23 team on 3 March 2016 clinched the Col CK Nayudu Trophy by defeating Madhya Pradesh at the Holkar Stadium, Indore.
Mumbai bowled out Madhya Pradesh for 442 and took a first innings lead of 135 runs to be declared the winner.
This was Mumbai’s second big title of the season, having pocketed theRanji Trophy for the 41st time earlier.
Winning team’s right-arm seam bowler Tushar Deshpande made the most of the third new ball in the closing minutes of the game on 2 March 2016.
The Mumbai team, winners of the 2015, 2016, U23 Col C K Nayudu Trophy, will be awarded with a cash prize of 20 lakh rupees on clinching the title.