Daily Current Affairs 3 April 2018
Recommend : – Times of India
The Reserve Bank of India allowed banks to spread out the provisioning to cover losses on their government bond portfolio across four quarters.This dispensation to spread the so-called mark-to-market provisioning is available for the quarters ending December 2017 and March 2018.Banks using such option will have to make the disclosure in their notes to accounts of the quarterly results.
Bloomberg Billionaires Index released
Mukesh Ambani is Asia’s third-richest man and is ranked 19 in the Bloomberg Billionaires Index.Apart from Ambani, there are 23 Indians in the Bloomberg Billionaires Index top 500 lists.Amazon’s Jeff Bezos and Bill Gates still hold on to the top two spots.
Ola acquires transportation app Ridlr
Cab aggregator Ola announced the acquisition of end-to-end public transport ticketing and commuting app, Ridlr.Ridlr enables users to search and book public transport options on their mobile phones.Combining Ridlr’s innovations in mass transit with Ola’s mobility products will enable true multi-modal mobility solutions for users.
Arbitrage rate index launched by BSE
Asia Index, a joint venture between S&P Dow Jones Indices and Bombay Stock Exchange (BSE), has launched arbitrage rate index.It will provide market participants with a transparent benchmark to compare the performance of similar arbitrage strategies.The index will be rebalanced every month, effective after the close of business a day prior to the expiration of the futures contract.
Microsoft enabled Digital Payments Support
Microsoft enabled digital payments services on its enterprise social network app “Kaizala” in India.Microsoft has integrated payment services of YES BANK and MobiKwik.Payment integration with Microsoft Kaizala will enable users to quickly send or receive money without having to leave the Kaizala application.
India-Korea Coast Guards to hold exercise
The Indian Coast Guard and the Korea Coast Guard will hold a joint exercise off Chennai on April 5.The joint exercise, named Sahyog – Hyeoblyeog 2018 is part of a proposed establishment of a MoU between the two Coast Guards to improve maritime security in the Indian Ocean Region.The exercise will see Indian Coast Guard ship Shaurya, and a few interceptor boats taking part in it.
Arun jaitley re-appointed as leader of RS
Finance Minister Arun Jaitley was once again appointed as the Leader of the Rajya Sabha (RS) following his re-election to the House.In June 2014, Mr Jaitley was appointed the leader of the House in Rajya Sabha.Prime Minister Narendra Modi is the Leader of the House in Lok Sabha.The Leader of the House is a Rajya Sabha member who is either a cabinet minister or another nominated minister.
Direct tax collections grow 17% in 2017-18
Direct tax collections in 2017-18 at Rs 9.95 lakh crore, exceeded the revised budgetary target of Rs 9.8 lakh crore.Also, 6.84 crore income tax returns filed in the year against 5.43 crore in the previous year signalling a rise of 26%.The collections from corporate tax went up 17.1% while that from personal income tax rose 18.9%.A net of 99.5 lakh new assessees were added to the tax net.
Manufacturing PMI at five-month low in March
Manufacturing activity remained in the positive for the eighth consecutive month in March but fell to a five-month low.The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) fell from 52.1 in February to a five-month low of 51.0 in March.A reading above 50 on the index shows growth, while one less than that denotes contraction.
Natgeo award for physical therapy app
Dr. Asha, a neurophysical therapist from Andhra Pradesh has won the ‘National Geographic Chasing Genius Challenge’ in the U.S. for designing Therax, a web/mobile application.‘Therax’ helps patients with home exercise programmes in their native language.The NatGeo challenge is part of a marketing strategy to popularise a television series.
Protem Chairman of LKA appointed
On the recommendation of the Minister of Culture, the President has appointed M L Srivastava, Joint Secretary (Akademies), Ministry of Culture as Protem Chairman of the Lalit Kala Akademi (LKA).He will continue to hold the office till a regular chairman is appointed.He will replace CS Krishna Setty whose term has come to an end.
Axis Bank removed from bullion importers list
The Reserve Bank of India dropped Axis Bank from a list of banks it has cleared to import gold and silver in the current financial year that began April 1.Bank of Baroda, HDFC Bank and Bank of Nova Scotia were among the 16 banks allowed to import bullion.Two other small banks Karur Vyasa and South Indian Bank were also dropped from the RBI list.
Core sector growth up 5.3% in Feb
Eight infrastructure sectors grew by 5.3% in February, mainly helped by a robust performance of refinery products, fertiliser and cement segments.The eight infrastructure sectors, coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had grown by just 0.6% in February last year.The core sectors expanded by 6.1% in January.
Subscribers under APY surpasses 97 lakh
The government revealed that at the end of Financial Year 2017-18, 97.05 lakh subscribers have enrolled under the Atal Pension Yojana (APY) scheme.The Pension Fund Regulatory and Development Authority has taken various initiatives for the expansion and ease of operations under the APY.Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month.
New plant species found in Western Ghats
Researchers have discovered a new plant species from the Western Ghats biodiversity hotspot.Classified as a sedge, the grass-like plant has been named ‘Fimbristylis agasthyamalaensis’ after the locality from which it was found.The new species belongs to the Cyperaceae family.In India, the genus is represented by 122 species, of which 87 are reported from the Western Ghats.
Google celebrates birthday of Kamaladevi
On 3rd April, Google celebrated the 115th birth anniversary of the multi-faceted freedom fighter, activist and promoter of the arts, Kamaladevi Chattopadhyay, with a doodle.She was an active participant in the freedom movement, championed women’s rights & founded the All-India Womens Conference.She also worked for the development of the performing arts in India.
India & JICA signed a ₹500-cr loan agreement
Japan International Cooperation Agency (JICA) will provide a concessional loan of ₹500 crore for smarter mobility project in Chennai to develop Intelligent Transport Systems (ITS).ITS will make traffic management system more efficient to ease the city’s congestion.The project will optimise the way traffic lights work and reduce long vehicle queues at city’s main intersections.
Mizoram govt signs peace pact with HPC-D
A landmark peace accord was signed between Mizoram Government and Manipur-based Hmar People’s Convention (Democratic) in Aizawl.The peace pact aims to end nearly three decades of insurgency in Hmar inhabited areas of Mizoram.The peace pact agreed for setting up of Sinlung Hills Council consisting of 14 members to accelerate speedy development in north and northeastern parts of Mizoram.
Debjani Ghosh is the new Nasscom President
Debjani Ghosh, former managing director of Intel South Asia, is the new president of Nasscom.She replaced R.Chandrashekhar whose term has completed.Ms.Ghosh was the first woman to lead Intel India and Manufacturers’ Association for Information Technology.NASSCOM is a trade association of Indian Information Technology and Business Process Outsourcing industry.
Mangaluru airport adjudged India’s cleanest
The Mangalore International Airport has been adjudged the cleanest airport in the country.In the survey conducted across 53 airports in the country by AAI, Mangaluru airport was adjudged the cleanest.A team of officials from AAI had inspected the airport terminal, parking area, toilets, commercial stalls, the road leading to the airport and customer lounge.