CURRENT AFFAIRS: BUSINESS AND ECONOMY
Free platform ticket for 30 squats at Delhi’s Anand Vihar railway station
- Union Railway Minister Piyush Goyal notified the installation of a novel ticket vending machine at Delhi ‘s Anand Vihar station. Named as the ‘squat machine,‘ this machine allows passengers to get a platform ticket for free in exchange for performing 30 squats in 180 seconds.
National Council of Applied Economic Research pegs GDP growth at 4.9 per cent in 2019-20
- Think tank National Council of Applied Economic Research (NCAER) pegged the economic growth for the current fiscal at 9 per cent, a tad down from 5 per cent estimated by the National Statistical Office (NSO).
- However, for 2020-21, the NCEAR expects the Indian economy to improve its growth rate to 6 per cent. Indian economy grew by 6.1 per cent in 2018-19.
Microsoft, SBI Foundation to upskill youth with disabilities for BFSI jobs
- Microsoft has collaborated with SBI Foundation to create opportunities in the banking and financial services and insurance (BFSI) sector, for youth with disabilities.
- Under the initiative, the two organisations will upskill 500 youth for BFSI jobs across Bengaluru, Mumbai, Chennai, Hyderabad and Delhi-NCR.
SBI Card, Landmark Group tie-up to launch retail co-branded credit cards
- SBI Card has partnered with Landmark Group to launch retail co-branded credit cards. Lifestyle Home Centre SBI Card, Max SBI Card, and Spar SBI Card were introduced in partnership with four Landmark brands – Lifestyle, Home Centre, Max, and Spar.
Axis Bank to explore long-term partnership with Max Life
- Axis Bank, along with Max Financial Services Limited and its subsidiary Max Life Insurance, have signed a confidentiality and exclusivity arrangement that will allow the private sector lender to explore the possibility of entering into a long-term strategic partnership with the life insurer.
IRDAI sets up panel to examine whether life insurers can offer indemnity-based health policies
- The insurance regulator IRDAI has set up a committee to examine whether life insurers can offer indemnity based health policies.IRDAI has now set up a nine-member committee led by MR Kumar, Chairman, Life Insurance Corporation of India to look into the issue.
Bharti AXA General uses WhatsApp to deliver policy, renewal premium notices
- Private insurer Bharti AXA General Insurance, stated it has started delivering policies and premium renewal notices to its customers through WhatsApp.It also plans to soon start selling private car, two-wheeler and travel insurance through the WhatsApp chatbot.
Accenture opens innovation hub in Pune
- American tech major Accenture opened its third ‘innovation hub’ in the country at Pune, which will house 1,200 people working on various technologies.Bengaluru and Hyderabad are the other Indian cities having the hubs, which are also present in two cities of Brazil, and one each in Canada, China, Finland, Japan, Switzerland, Australia and Singapore.
Analysts foresee 4.5 to 4.7 per cent GDP growth in 3rd quarter
- India’s GDP growth in the October-December quarter of the financial year 2018-19 will likely print at 5-4.7 per cent, according to researchers.
- As per SBI Research’s composite leading indicator, which analyses inputs from 33 various indicators, growth will remain flat in Q3, at 4.5 per cent clocked in Q2; ICRA believes third-quarter GDP may settle at around 7 per cent led by a modest uptick in services, industry and agricultural growth.
Airtel Payments Bank rolls out Aadhaar enabled payment system
- Airtel Payments Bank stated that it has launched the Aadhaar enabled payment system (AePS) which will help people to do transactions at over 2,50,000 of its banking points across India.
- The system will enable customers, having Aadhaar- linked accounts of any bank, to do transactions at the designated points of the Airtel Payments Bank. It allows customers to carry out transactions by using their Aadhaar number or virtual ID to access their bank accounts.
US-based healthcare major Providence sets up Global Innovation Centre in Hyderabad
- Providence, a US-based healthcare systems provider, inaugurated its global innovation centre in India with plans to invest up to $100 million and induct more than 2,000
Poonawalla Fin and Capital Float tie-up to provide loans to MSMEs
- Poonawalla Finance, part of the $9.8-billion Cyrus Poonawalla Group, has partnered with Capital Float to deliver working capital financing to Micro, Small & Medium Enterprises (MSMEs) across India.Both companies will co-lend on Capital Float’s co-origination model to deliver last-mile credit to
Airtel Payments Bank
- CEO: Anubrata Biswas
- Headquarters location: New Delhi
- Founded: 2017
- The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex executive body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.
- Founded: 2007
- Headquarters: New Delhi
- Giriraj Singh (MOS independent charge), Nitin Gadkari (Union Minister)
- CEO: Amitabh Chaudhry
- Headquarters: Mumbai
- Founded: 1993, Ahmedabad
- Tagline: Badhti Ka naam Zindagi.
Bharti Axa General Insurance
- CEO: Sanjeev Srinivasan
- Headquarters location: Mumbai
- Founded: 2008
- Founded: 1999
- Sector: Insurance
- Headquarters: Hyderabad
- Chairperson: Subhash Chandra Khuntia
- CEO: Julie Sweet
- Headquarters: Dublin, Ireland
- Chairperson: Rajnish Kumar
- Headquarters: Mumbai
- Managing director: Anshula Kant (Stressed Assets, Risk and Compliance)
- Founded: 1 July 1955
- Tagline : “With you- all the way” “A bank of the common man” “The banker to every indian” “The nation banks on us”
CURRENT AFFAIRS: STATES
4 railway stations in Uttar Pradesh’s Prayagraj get new names
- Allahabad Junction will now be Prayagraj Junction, Allahabad City will now be known as Prayagraj Rambag, Allahabad Chhioki has been changed to Prayagraj Chheoki and the name of Prayagghat has been changed to Prayagraj Sangam.
World famous Goa carnival to begin in Panaji
- The world-famous Goa Carnival will begin in the capital The festival, which displays Goan art and culture, is celebrated with fun, frolic, pomp and splendor.
Chhattisgarh organises ‘Krishi Maha-Kumbh’ to cater to future farming practices
- A three-day mega agricultural festival organised in Raipur called ‘Krishi Maha-Kumbh’ was inaugurated by Chief Minister Bhupesh Baghel. Also known as the National Agriculture Festival, this mela boasted of going beyond the traditional dominant practices of farmers by encouraging the agrarian community to experiment with non-conventional farm activities, adopt modern technologies and secure quality organic produce.
Andhra CM launches ‘Jagananna Vasthi Deevena’ scheme to provide financial assistance to students
- Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy launched scheme named ‘Jagananna Vasthi Deevena’, under which a financial assistance of Rs 2,300 crore would be provided to students pursuing various post- intermediate courses to meet hostel and mess expenses. The Chief Minister launched the programme in Vizianagaram district in north coastal Andhra.
Mumbai Airport Launches World’s Largest Temp-Controlled Facility to Store Agro, Pharma Products
- Mumbai airport, run by a joint venture between Airports Authority of India and GVK, announced the launch of an exclusive terminal for processing and storage of agro and pharma products.
- Touted as the world’s largest airport-based temperature-controlled facility, the ‘Export Cold Zone’ can hold over 700 tonnes of such cargo at one time with a combined annual capacity of 5.25 lakh tones.
J&K to set up Tribal Research Institute by next fiscal year
- Union Territory of Jammu and Kashmir will set up a Tribal Research Institute (TRI) by next fiscal year to promote tribal practices and their art, culture and languages. Secretary Cooperative and Tribal Affairs, Abdul Majid Bhat stated in Srinagar that Tribal Research Institute will be a centre of excellence to focus on studying and promoting tribal practices and their art, culture and languages in Jammu and Kashmir.
Losar festival celebrated in Himachal Pradesh
- Hundreds of people from the Buddhist community gathered at different temples in the state to celebrate the Losar festival.People celebrated Losar Festival, on the first day of the lunisolar Tibetan calendar, at
Himachal Pradesh: First to achieve 100% LPG coverage
- Himachal Pradesh became the 1st state in the country to have 100% LPG coverage due to the implementation of PMUY (Pradhan Mantri Ujjwala Yojana) scheme.
- Under the scheme except families having a pensioner, income taxpayer or any member employed with the government, board, corporation etc, all households of the state without an LPG connection were eligible.
4,000-yr-old crafts village unearthed near Varanasi
- A nearly 4,000-year-old urban settlement has been unearthed by a team of surveyors from the Banaras Hindu University (BHU), which experts say could be one of the craft villages mentioned in ancient texts.
- The university’s Department of Ancient Indian History, Culture and Archaeology, which did the preliminary survey of the site at Babhaniyav village, 13 km from Varanasi.
Madhya Pradesh launches unified vehicle registration card
- Madhya Pradesh has become the first state in the country to launch the unified vehicle registration card.MP is only the second state to launch a unified driving license, after Uttar Pradesh.These unified smart cards for driving license and vehicle registration will each have a QR code that will help in verifying authenticity of the data printed on the cards.
Bihar first NDA-ruled state to pass resolution against NRC
- Bihar is the first NDA-ruled state that has passed a resolution to not implement the National Register of Citizens (NRC).The Assembly also passed a resolution to implement the National Population Register (NPR) but in its 2010 form, with an amendment.
Maharashtra government’s “Smart gram yojana” to be named after ex-minister R R Patil
- The Maharashtra government’s “smart gram yojana” will be named after former Deputy Chief Minister the late R R Patil. Since November 2016, the ‘smart gram yojana’ (smart village) is being implemented in the state where awards are given to gram panchayats at taluka and district level for their performance on certain parameters
Haryana CM unveils Rs 1,42,343-crore budget for 2020-21
- Haryana Chief Minister Manohar Lal Khattar, who also holds the finance portfolio, announced a Rs 1,42,343-crore budget in the state assembly.
Maharashtra Assembly passes law making Marathi language compulsory for all schools
- Maharashtra government has made Marathi compulsory in schools affiliated with all boards with a fine of Rs 1 lakh for institutions that fail to comply with the directive. This law will be applicable to all boards like CBSE, CISCE, IB, IGSCE, NIOS
MP: Two-day unique Chilli Festival begins at Kasrawad in Khargone districtR
- In Madhya Pradesh, the two-day unique Chilli Festival begins at Kasrawad in Khargone district. Chilli Festival is a big business opportunity for traders, investors and exporters. It will also help in fulfilling the Central Government’s goal of doubling the income of farmers.
Unique census of migratory birds underway in Kanyakumari district of Tamil Nadu
- A unique census of migratory birds is being undertaken in the Kanyakumari district of Tamil Nadu. The census is unique because it uses both physical sighting as well as indirect clues for deciding the count of migratory birds that visit India during adverse climatic conditions in other countries.
- PMUY scheme aims to safeguard the health of women & children by providing them with a clean cooking fuel – LPG.
- Launched-1st May, 2016.
CURRENT AFFAIRS: MOU
NMCG signs agreement to develop ghats in Badrinath and Gangotri
- A tripartite Memorandum of Understanding (MoU) was inked among the National Mission for Clean Ganga (NMCG), State Programme Management Group-Uttarakhand (SPMG-UK) and Indorama Charitable Trust (ICT) to work together for giving a facelift to the bathing ghat at Badrinath and ghat and crematoria at Gangotri in Uttarakhand.
Atal Innovation Mission Labs, NITI & NASSCOM partner to bring AI modules to Indian schools
- NITI Aayog, Atal Innovation Mission (AIM) in collaboration with the National Association of Software and Services Companies (NASSCOM) has launched an artificial intelligence (AI) based module rolled out for students in Indian schools.
CURRENT AFFAIRS: ACQUISITIONS AND MERGERS
Modi government approves merger of Bharti Infratel, Indus Towers: Sources
- The Department of Telecom (DoT) on approved the merger of the country’s largest mobile tower company Indus Towers with Bharti Infratel. The combination of Bharti Infratel and Indus Towers will create a pan-India tower company with over 163,000 towers, operating across all 22 telecom service areas.
ONGC, HPCL buy 34.56% of bankers’ stake in Petronet MHB for Rs 371 cr
- State-owned Oil and Natural Gas Corp (ONGC) and its subsidiary Hindustan Petroleum Corp Ltd (HPCL) have bought out lenders in Petronet MHB Ltd, the firm that owns a petroleum product pipeline in Mangalore, for about Rs 371 crore.
- HQ- New Delhi
- Chairman & Managing Director -Shashi Shanker
- Headquarters- Mumbai, Maharashtra.
- Chairman & Managing Director -Shri Mukesh Kumar Surana.
CURRENT AFFAIRS: APPS AND PORTAL
Online Chatbot ‘ASKDISHA’ upgraded to converse with Railway customers in Hindi language
- Indian Railways had introduced the services of Artificial Intelligence based ASKDISHA chatbot in October 2018 for the benefit of the users of the ticketing website irctc.co.in and tourism website www.irctctourism.com of its PSU, Indian Railways Catering & Tourism Corporation Limited (IRCTC).
Indian Railways launches mobile app for employees
- Indian Railways, Railway Board Chairman Vinod Kumar Yadav launched the HRMS (Human Resource Management System) mobile app, in which the employees can see the data related to their service and communicate with the administration for any changes.The app has been developed by the Centre for Railway Information System (CRIS).
SPICe+ web form launched for ease of doing business
- Secretary, Ministry of Corporate Affairs (MCA), Injeti Srinivas, inaugurated the ‘SPICe+’ Web Form in New Delhi. The Ministry of Corporate Affairs has notified a new Web Form christened ‘SPICe+’ (pronounced ‘SPICe Plus’) replacing the existing SPICe form.
Government launches mobile app to broaden reach of PM-Kisan scheme
- On the first anniversary of the launch of the government’s ambitious PM-Kisan scheme, Agriculture Minister Narendra Singh Tomar launched a mobile app to broaden the reach of the programme that aims to provide annually Rs 6,000 to each eligible farmer
Labour min to soon launch mobile app ”Santusht” for ESIC beneficiaries
- Labour Minister Santosh Gangwar will soon launch a mobile app ‘‘Santusht’‘ with an aim to address issues of beneficiaries of Employees State Insurance (ESI) scheme.The minister also launched that ESIC’s Special Services Fortnight from February 24 to March 10.
Ministry of Railways
- Formed– 16 April 1853
- Headquarters– New Delhi
- Union Minister– Piyush Goyal
CURRENT AFFAIRS: APPOINTMENTS AND RESIGNATION
RBI approves Sunil Gurbaxani’s appointment as Dhanlaxmi Bank MD and CEO
- Reserve Bank of India (RBI) approved appointment of Sunil Gurbaxani as managing director and CEO of Dhanlaxmi Bank. Gurbaxani is working with Axis Bank at present.
Rajalaxmi Deo re-elected as Rowing Federation of India president
- Rajalaxmi Singh Deo was re-elected as the president of the Rowing Federation of India (RFI). Rajpal Singh, G Bhasker, Souvik Ghose, and Sreekunara Kurup were elected as vice-presidents.
Retired IAS officers Amarjeet Sinha, Bhaskar Khulbe appointed as Advisers to PM
- Retired IAS officers Amarjeet Sinha and Bhaskar Khulbe have been appointed as Advisers to Prime Minister Narendra Modi. DoPT in its order stated the appointments have been made on contractual basis initially for a period of two years or until further orders
Abhay Kumar Singh takes over as NHPC CMD, replaces Ratish Kumar
- State-run hydro power giant NHPC announced appointment of Abhay Kumar Singh as the company’s Chairman & Managing Director.
PM of Malaysia Mahathir Mohamad resigns
- Malaysian Prime Minister Mahathir Mohamad submitted his resignation to the country’s king. Mahathir’s decision follows a weekend of political wrangling, after it was reported that his party was planning to form a new government that would exclude his successor, Anwar Ibrahim.
Togo’s President Faure Gnassingbé wins fourth term
- Togo President Faure Gnassingbe has won a fourth term in power.The incumbent leader took 72 percent of the vote share in the first round of the presidential election, far ahead of former prime minister Agbeyome Kodjo, with 18 percent.
Trans Union Cibil ropes in Rajesh Kumar as MD, CEO
- Trans Union Cibil, the largest credit information bureau, appointed Rajesh Kumar of HDFC Bank as its new managing director and chief executive.Kumar succeeds Satish Pillai who has moved to become the president of Asia region business of the US-based company.
South Sudan rebel leader Machar sworn in as vice president
- South Sudan’s rebel leader Riek Machar has been sworn in as first vice president.Four other vice presidents from the current regime and other opposition groups will also form part of a bloated government of 35 ministers, in addition to 550 lawmakers.
Indian-origin minister Suella Braverman sworn in as UK’s new Attorney General
- Indian-origin Suella Braverman, appointed the UK’s new Attorney General in British Prime Minister Boris Johnson’s reshuffled Cabinet earlier this month, was formally sworn in for the post at a ceremony at the Royal Courts of Justice in London.
Mastercard names product chief Michael Miebach as CEO, Ajay Banga moves to executive chairman
- Mastercard’s chief executive officer of 10 years, Ajay Banga, will step down at the start of the next year and be replaced by Chief Product Officer Michael Miebach.
Jawed Ashraf To be India’s Next Ambassador To France
- Seasoned diplomat Jawed Ashraf appointed India’s next Ambassador to Ashraf is presently serving as Indian High Commissioner to Singapore.
Axis Bank appoints Puneet Sharma as CFO
- Axis Bank announced the appointment of Puneet Sharma as its Chief Financial Officer (CFO).Sharma will replace Jairam Sridharan, who has resigned as the Group Executive and Chief Financial Officer of the bank, with effect from March 5, 2020.
IndusInd Bank announces Sumant Kathpalia as new MD and CEO
- Private sector lender IndusInd Bank announced the appointment of Sumant Kathpalia as its new Managing Director and CEO. Kathpalia will take over from Romesh Sobti who is set to retire later next month.
Trans Union Cibil
- Headquarter- Mumbai
- Full Form- Credit Information Bureau of India Ltd
- HQ- Mumbai
- CEO-Amitabh Chaudhry
- Tagline-Badhti Ka naam Zindagi
- HQ- Pune
- MD and CEO- Sumant Kathpalia (From March 2020)
- Tagline- We Make You Feel Richer
- Headquarters- Thrissur, Kerala
- Tagline- Tann.Mann.Dhan
- Chairman- Mr. Sajeev Krishnan