Current Affairs Daily Digest – March 15 2019
1. Sourav Ganguly joins Delhi Capitals as Advisor
Former India captain Sourav Ganguly has been named the advisor of Delhi Capitals. Former India captain and Cricket Association of Bengal president Sourav Ganguly said that he has taken up an advisory role with IPL franchise Delhi Capitals after consulting Committee of Administrators (CoA).
2. 1st woman Karnataka Lingayat jagadguru Mahadevi passes away
First woman Lingayat ‘jagadguru’ and Basava Dharma Peetha President, Maate Mahadevi passed away aged 73 at Manipal hospital in Bengaluru . Mahadevi took part in the protests held for separate religion and grant of minority religious status for Lingayats in Karnataka last month. She was reportedly suffering from kidney and lung disease.
3. Rahul Bajaj to step down as chairman, non-executive director of Bajaj Finserv
Leading industrialist Rahul Bajaj will step down as the Chairman and Non-Executive Director of Bajaj Finserv from May 16 as part of succession planning, the diversified non-banking financial company said .
However, he will continue to serve the company as Chairman Emeritus. Vice-Chairman Nanoo Pamnani will take over as the new Chairman of Bajaj Finserv.
4. Hyderabad, Pune most liveable for expats: survey
Hyderabad and Pune continue to be the most liveable cities in India for expatriates, a Mercer survey found, even though their overall global ranking remains a lowly 143.
According to Mercer’s 21st annual Quality of Living Rankings, released on Wednesday, the two cities are followed by Bengaluru (149), Mumbai (154) and New Delhi (162), whose rankings remained unchanged from last year. Mercer’s survey provides assessment for more than 450 cities; this ranking is for 231 of these cities.
Vienna retained the top rank for the 10th year running, followed by Zurich at second spot. In joint third place are Auckland, Munich and Vancouver. Luxembourg was the safest city in the world. In 105th place, Chennai ranks as the Asia-Pacific region’s safest city, while Karachi (226) is the least safe.
5. RBI re-categorizes IDBI Bank as a Private Sector Bank
LIC acquire 51% of the total paid-up equity share capital of the bank Reserve Bank of India has categorized IDBI Bank as a ‘Private Sector Bank’ for regulatory purposes by with effect from 21 January 2019.
The move is consequent upon Life Insurance Corporation of India acquiring 51% of the total paid-up equity share capital of the bank.
6. President of India inaugurates Festival of Innovation and Entrepreneurship in Gandhinagar
The President of India, Shri Ram Nath Kovind, inaugurated the Festival of Innovation and Entrepreneurship in Gandhinagar, Gujarat . He also presented the 10th Biennial National Grassroots Innovation Awards.
The President said that an innovative idea in itself is not enough. It is important to ensure that a creative idea gets the support it needs for its maturing, diffusion and delivery on the ground. Innovation itself is only the first of two key drivers to ensure that any innovation becomes actionable.
The second key driver is entrepreneurship, which needs to supplement innovation so as to deliver benefits to our fellow citizens. We need to build an ecosystem for converting innovations into enterprises.
7. National convention of ‘War Decorated India’ begins
The two-day national convention of War Decorated India began at the Manekshaw Auditorium in Chandimandir, the headquarters of the Western Command, near here, on Friday.Some living gallantry award winners and relatives of the deceased awardees attended the Convention. Next of kin, relatives of the awardees were felicitated today.
8. IIT Roorkee ties up with ISRO for space tech cell
The Indian Institute of Technology (IIT) Roorkee in Uttarakhand tied up with the Indian Space Research Organisation (ISRO) to set up a Space Technology Cell at its campus.The ISRO-IIT Roorkee Space Technology Cell shall pursue advanced research in the areas of relevance to the future technological and programmatic needs of the Indian space programme.
The cell shall ensure to maximise the use of research potential, infrastructure, expertise and experience that exist in ISRO and IIT Roorkee. The institute will be providing the infrastructure and administrative support in setting up of the cell.
9. Sonam Kapoor partners with LA tourism for campaign
Actress Sonam A. Kapoor and her husband, businessman Anand Ahuja have partnered with Los Angeles Tourism for a new campaign. The digital initiative highlights the city’s vibrant arts, culture, culinary and hotel scenes.
Los Angeles Tourism began investing in travel trade efforts in India back in 2016 and consumer marketing efforts began in 2017. In 2018, the city welcomed more than 130,000 visitors from India, a 5.1 percent year-over-year increase.
The destination aims to grow its share of visitors from India and will undertake continued trade and consumer marketing initiatives throughout 2019 to include thematic familiarization tours, and trainings.
10. First Afghan shipment to India via Chabahar arrives in Mumbai’s Nhava Sheva port
In a major boost to ties between India and Afghanistan, the first Afghan shipment to India via Chabahar arrived at Nhava Sheva port in Mumbai.The 570 tonnes of consignment contained mung beans and talc.
Consul General of the Islamic Republic of Afghanistan Naseem Sharifi stressed on the need of strong bilateral ties between India and Afghanistan and it’s positive impact on trade and job creation.
11. BSNL Finance Director replaced amid financial crisis
Amidst the acute financial crisis at BSNL, the Department of Telecom (DoT) has handed over the responsibility of the Finance Director at the cash-strapped PSU to current Director Mobile as well as fixed line, Vivek Banzal divesting the charge from Sujata Ray.
Official sources said Banzal, who is already holding two key charges, has been given the charge of Finance Director and this was effected by the DoT on February 28.
Banzal would now be looking at all the three key wings — fixed line, mobile and finance at BSNL.
12. YSR Congress leader Y.S.Vivekananda Reddy dead
YSR Congress party leader and former Andhra Pradesh Minister Y.S. Vivekananda Reddy died of cardiac arrest. He was 68.
13. JP Duminy to retire from ODIs after ICC World Cup 2019
South African all-rounder JP Duminy announced that he would retire from ODIs after the ICC World Cup in England. Duminy will, however, continue to be available for South Africa in T20 internationals.
Duminy, who announced his retirement from Test and first class cricket in 2017, said “the time is right” to close this chapter of his international career.
14. India-Africa joint field training exercise to kick off on March 18
A 10-day long Africa-India Joint Field Training Exercise (AFINDEX-19) between the Indian Army and 16 African nations will be conducted in Pune from March 18 to 27.
As many as 10 personnel, each from the participating nations from the African continent and personnel of Maratha Light Infantry of Indian Army, will participate in the joint exercise which will be conducted at two locations in Pune’s Foreign Training Node at Aundh Military Station and College of Military Engineering in Kirkee.
15. RBI relaxes norms for trade credit
The Reserve Bank of India (RBI) relaxed norms for imports of capital and non-capital goods by raising the trade credit limit to $150 million under the automatic route.
Announcing the modified revised framework for ‘Trade Credit Policy’, the RBI, however, reduced the all-inclusive cost (all-in-cost) for overseas loans to benchmark rate plus 250 basis points from the earlier 350 bps. Trade credits (TCs) refer to the credits extended by the overseas supplier, bank, financial institution and other permitted recognised lenders for maturity for imports of capital and non-capital goods permissible.
According to the revised framework, TCs up to $150 million or equivalent per import transaction for oil and gas refining & marketing, airline and shipping companies can be availed under the automatic route.
For others, the limit is up to $50 million or equivalent per import transaction.
16. World Consumer Rights Day: March 15
World Consumer Rights Day is celebrated every year on March 15. It is a day marked to raise global awareness about consumer rights and needs. Celebrating World Consumer Rights Day is a chance to demand that the rights of all consumers are respected and protected, and to protest against market abuses and social injustices which undermine those rights.
This year, the theme of promoted World Consumer Rights Day is “Trusted Smart Products”.
17. Former Texas star Johnny ‘Lam’ Jones dies at age 60
Former Texas Longhorns star and Olympic gold medalist Johnny “Lam” Jones died at age 60, according to the Austin American-Statesman. Jones had fought cancer for years.
Jones’ exploits as a high school sprinter in Lampasas, Texas, earned him widespread fame, and at age 18, he won a gold medal as a member of the U.S. 4×100 meter relay team in the 1976 Summer Olympics.