Current Affairs Daily Digest – March 16 2017


1. Babul Supriyo named vice-president of FIFA U-17 World Cup

Singer turned Union minister Babul Supriyo has been appointed Vice President of the 2017 U-17 Fifa World Cup organising committee, All India Football Federation (AIFF) President Praful Patel revealed. The appointment of singer-turned-BJP MP Babul Supriyo as vice-president of the Local Organising Committee (LoC) of the FIFA U-17 World Cup to be hosted by India from October 6 .

  1. Chennai Port Trust signs MoU with the Government of Puducherry
  • A Memorandum of Understanding was signed between Chennai Port Trust and the Government of Puducherry in New Delhi for handling EXIM cargo originating from Puducherry Port hinterland.
  • The MoU envisages that Chennai Port Trust will assist Puducherry Port in handling its export cargo. The cargo originating from Puducherry Port hinterland will be transported through sea mode to Chennai Port for shipping to overseas destinations through mainline and feeder vessels.
  • Similarly, the import cargo destined to Puducherry hinterland will be unloaded at Chennai Port and will be moved in small coastal vessels to Puducherry Port, thus reducing total logistics costs, besides easing road congestion.
  1. Govt launches new scheme for developing export linked infrastructure

The government has launched a new scheme — TIES — for developing export linked infrastructure in states with a view to promote outbound shipments. Launched by Commerce and Industry Minister Nirmala Sitharaman, the Trade Infrastructure for Export Scheme (TIES) seeks to bridge the infrastructure gap and provide forward and backward linkages to units engaged in trade activities.

  1. Cabinet clears special assistance for EAPs in Andhra Pradesh

The Centre has approved financial assistance for bifurcated Andhra Pradesh by way of special dispensation in funding of externally aided projects (EAPs) and also the irrigation component of Polavaram project. The special assistance approved by the Cabinet will be provided to the state towards repayment of loan and interest for EAPs signed and disbursed during 2015-16 to 2019-20.

  1. Bengaluru City railway station becomes blind-friendly

With a view to facilitating visually impaired train passengers, tactile maps of the railway station and train schedules in Braille were unveiled at the Mysuru Railway station. Mysuru MP Pratap Simha inaugurated the facility; Divisional Railway Manager Rajkumar Lal said Mysuru railway station has become the country’s first visually challenged friendly station in India.

  1. Cabinet approves setting up of 50 Kendriya Vidyalayas

Fifty new Kendriya Vidyalayas (KVs) will be established across the country to provide quality education to around 50,000 students with the Cabinet giving a go ahead to the project. The schools, which will be set up under the civil/defence sector for classes 1 to 5, will “provide quality education to approximately 50,000 students in addition to around 12 lakh students already studying in present KV.

  1. Nirmala Sitharaman launches Trade Infrastructure for Export Scheme to address needs of exporters

Commerce and Industry Minister Nirmala Sitharaman launched the Trade Infrastructure for Export Scheme (TIES). Mrs Sitharaman said the scheme is focused on addressing the needs of the exporters. The Minister said the proposals of the implementing agencies for funding will be considered by an inter-ministerial empowered committee specially constituted for this Scheme to be chaired by the Commerce Secretary.

  1. UCO Bank, Future Generali tie up

Private insurer Future Generali India Insurance Company (FGII) has entered into a corporate agency tie-up for its products with public lender UCO Bank. The PSU lender will provide a window at its bank branches for marketing FGII’s offerings. The company has tie-ups with over 100 banks across the country. At present, the bancassurance model accounts for 5 per cent of the insurer’s total business. The company aims to achieve a growth of 80 per cent by FY18.

  1. State Bank of India signs MoU with CREDAI

State Bank of India and real estate developers’ body CREDAI have signed a memorandum of understanding (MoU) to jointly conduct various initiatives towards development of the realty sector. The MoU will be in force for a period of 3 years. CREDAI is the largest real estate association in the country with over 11,500 members. We see a lot of synergies in working with CREDAI. Both of us have a common objective of making every Indian own a home of their own

  1. HDFC Bank to offer online loans against securities

HDFC Bank has launched an instant digital loan against securities (LAS) facility in collaboration with the National Securities Depository (NSDL). The bank said customers can avail themselves of overdraft facility against shares in three steps — select the shares to be pledged on net banking; accept agreement through one-time password (OTP); and pledge the shares with NSDL online through OTP. The bank, in a statement, said its demat customers can calculate their eligibility for overdraft limit against shares, and open a current account instantly.

  1. BHEL’s first 800-MW supercritical plant becomes operational

Power equipment maker BHEL has commenced commercial operations of its first 800-MW unit, a supercritical thermal plant. It also marks the company’s foray as a developer into the field of power generation. Karnataka Power Corporation Ltd (KPCL) and BHEL are the main equity partners of RPCL, the owner and operator of this power plant. The milestone was achieved for the first unit of the 2×800-MW Yeramarus thermal power station of Raichur Power Corporation Ltd (RPCL), in Raichur district of Karnataka.

  1. International Vision Zero Conference Begins In New Delhi

The international conference on the VISION ZERO and its relevance to Occupational Safety and Health (OSH), is being organized from 15th to 17th, March 2017 at Vigyan Bhavan, New Delhi by Directorate General Factory Advice and Labour Institutes (DGFASLI), Government of India, Ministry of Labour and Employment and German Social Accident Insurance (DGUV), Germany in association with International Social Security Association (ISSA).

  1. India’s contribution to UN increases to Rs 244 crore

India’s contribution to the United Nations rose 55 per cent to Rs 244 crore in 2015-16 compared with the previous fiscal. External Affairs Minister Sushma Swaraj informed the Lok Sabha that the government had also made voluntary contributions to the tune of Rs 22 crore to international organisations, including UN agencies, in the last financial year. The country contributed Rs 244 crore to the UN last fiscal compared with Rs 157 crore in 2014-15.


Read Current Affairs Daily Digest For March 2017

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