State Budget of Chhattisgarh presented
- More budget allocation to drought affected Agriculture sector
- Announcements to the Maoists affected Bastar Region
Real Estate Bill passed
- Was passed by Rajya Sabha
- In the favor of protection of Home buyers
- More transparency into the real estate business and avoid the flow of Black money.
New Hydrocarbon Exploration and Licensing Policy
- The Union Cabinet has approved the policy
- The policy will replace the New Exploration Licensing Policy (NELP)
- Enhance domestic oil and gas production
- Bring substantial investment in the sector and generate sizable employment.
- Targets the enhancement of transparency and reduction of administrative discretion
Sikh Gurudwara’s Act approved
- Green signal to remove the exception given to Sehajdhari Sikhs in 1944
- Exception was for voting in the elections for selecting members of the board and the committees constituted under the Act
BIMSTEC Convention in Criminal Matters
- Bay of Bengal Initiative on Multi Sectoral Technical and Economic Cooperation
- Comprises seven countries – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand
MoU between India and Bahrain on Cooperation for Prevention of Human Trafficking
- Rescue, recovery, repatriation and re-integration of victims of trafficking
- Approved MoU is expected to be signed in Bangkok in April.
IMF to set up data sharing centre in India
- To provide technical support and assistance to India, Nepal, Bangladesh, Sri Lanka, Pakistan and Bhutan.
- This would be the first such initiative in Asia.
- Would rise India’s quota to 7 % from the existing 2.44 %.
- Brazil, China, India and Russia will be among the 10 largest members of the body.
- Will ensure better understanding of regional concerns, including trade, agriculture, climate change, facilitating a reform process and support to regional integration.
Amendment to mining law, move to spur M&As
- Will permit transfer of captive mines granted on discretion to spur merger and acquisitions in the mining sector
- To help in checking the stressed and non-performing assets of Indian Banking industry
- Also help to push the stuck M&A deals could be moved in the right direction.
SC dismisses plea to name country ‘Bharata’
- The court observed that every Indian has the right to call the country India or Bharatha.
- The Supreme Court has no interest in dictating or deciding for a citizen what he should call his country.
Syrian war enters sixth year
- Over the past five years the war has spiraled into a complex conflict
- Regime forces, rebels, Kurdish fighters and jihadists have carved out zones of influence.
- More than 5 million people have fled Syria since the start of the conflict, most of them women and children.
- Neighboring Lebanon, Jordan and Turkey have struggled to cope with one of the largest refugee exoduses in recent history.
- About 10% of Syrian refugees have sought safety in Europe
- 5 million People are internally displaced inside Syria, 1.2 million were driven from their homes in 2015 alone.
Mexico opposes India’s UNSC bid
- India’s application for permanent membership of the United Nations Security Council (UNSC) has been opposed by Mexico.
- Mexico thinks adding more permanent members in the Security Council is not the solution to the existing problem.
- More veto power-wielding permanent members will mean more paralysis of the U.N.
Business and Economy
HDFC Bank ties up with 5 start ups
- The company chose five startups from 30 applicants during its maiden Digital summit.
- Bank previously tied up with Chillr to enable its customers pay without a wallet
New price formula for Undeveloped Gas Discoveries approved
- Will lead to a near-doubling of rates.
- Deep sea discoveries which are unexplored will be given the cost of alternative fuels
- Price will be the lowest of weighted average of fuel oil and imported LNG
Mahindra Aerospace to set up operations in UAE
- Company currently the world’s largest importer of defense equipment
- Will become the third largest aerospace company by 2020 once the operations commenced formally.
InnerChef acquires EatonGO, Flavour Labs
- Innerchef started its operations in April 2015
- Working on the ready-to-cook and ready-to-eat meals segments.
- Acquisition of Flavor Labs, a food company, will help InnerChef enter the mobile kitchen segment
- EatOnGo, which specializes in breakfasts, will help the company expand its presence in Bengaluru.
Science and Technology
NASA’s new Mars exploration mission set for May 2018 launch
- It is named ‘Insight Mission’
- Landing scheduled for November 26.
- Will help scientists know how rocky planets including Earth formed and developed.
- InSight Mission is intended to study the inner workings of Mars
World’s thinnest lens developed
- Australian scientists have developed world’s thinnest lens
- 2000 times thinner than human hair.
- 3 nanometres thick. Previous versions of lenses were 50 nanometres thick.
- Scientists have used a crystal of molybdenum disulphide as a special ingredient in this lens.
- Lens could have revolutionary applications in medicine, science and technology and can also be used to create bendable TV and computer screens.
People in News
Balbir Singh Chauhan appointed as India’s 21st Law Commissioner
- Currently the head of Cauvery River Water Dispute tribunal
Egyptian diplomat Ahmed Aboul Gheit named Secretary General of the Arab League
- Will replace fellow Egyptian Nabil El-Araby
Kangana Ranaut becomes Brand Ambassador of Reebok India
- New campaign has been released on international Women’s day of the under the brand title of Be More Human.
- Reebok International Ltd.is a global athletic footwear and Apparel Company
Anand Mahindra conferred with France’s highest civilian award
- French Ambassador to India Franço is Richier conferred the Knight of the Legion of Honour on Anand Mahindra.
- Distinction comes in recognition of Mr Mahindra’s outstanding national and international achievements and initiatives at the helm of the Mahindra Group.
Rest of India wins 2015-16 Irani Cup Cricket Title
- They chased a target of 480 runs.
- This is the 10th-highest successful chase in the history of First-Class cricket.
- It was also the third-highest on Indian soil.
Jitu Rai wins gold at Shooting World Cup
- Indian Shooter Jiturai bagged gold at ISSF World cup held in Bangkok Thailand
- Clinched gold in the men’s 50m pistol event shooting World Cup
Hyundai becomes Official Partner of BCCI
- As an associate sponsor for all international matches played in India.
- Hyundai cars would be used for transporting various stakeholders of the game throughout the event.
- BCCI offered space for three official associate sponsors from which it would get 150 crore in the next four years.