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March 07, 2016

7th March 2016 - Important Current Affairs updates

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National Affairs
  • Prime Minister Narendra Modi has selected another village for adoption in his Varanasi Constituency of U.P. for development under the Saansad Adarsh Gram Yojana (SAGY).
    • Nagepur, a village dominated by backward castes has been selected under the second phase of the Yojana. 
    • Important Note : Earlier, Prime Minister had adopted Jayapur village in the same Varanasi constituency in the first phase in 2014.
  • The Indian Railways is set to create an in-house research unit titled SRESHTA for improving the functioning of the entity. 
    • The wing will mostly have scientists and railway experts. 
    • SRESHTA is being formed as the existing research arm Research Design and Standards Organisation is preoccupied with day-to-day tasks.
    • SRESHTA - Special Railway Establishment for Strategic Technology and Holistic Advancement

Business & Economy
  • With 7% presence, India ranks 26th globally in terms of presence of women members on company boards.
    • This study was conducted by MyHiringClub and JobPortal. 
    • Norway leads the list with 40.12% followed by Sweden and Finland
  • The Reserve Bank of India (RBI) has decided to share FDI-related data with the country's intelligence agencies, Intelligence Bureau (IB) and Research and Analysis Wing (RAW), to check the black money entering India. 
    • The FDI to India comes either through the automatic route, or through government body Foreign Investment Promotion Board (FIPB) which processes FDI-proposals, both of which get recorded by RBI.
  • The number of Public Sector banks (PSBs) may reportedly be brought down to six from the current 27 by means of consolidation, to tackle the banks' bad-loan scenario. 
    • This was expressed by heads of PSBs and other financial institutions at a retreat organised by the government. 
    • Further, a committee will be set up to decide the right matches for consolidation.
  • Union Minister Dharmendra Pradhan has laid the foundation stone of India's first-of-its-kind Octomax unit at the Mathura refinery
    • The Octomax is an indigenously developed technology that will be used for producing Euro-IV, Euro-V equivalent gasoline. 
    • The refinery will be set up at an estimated cost of ₹43 crore and is expected to function from October 2017.
  • Japan's multinational corporation SoftBank Group today announced to split into two companies to separate its domestic and overseas business. 
    • The overseas unit would include SoftBank’s stakes in Sprint Corp and Alibaba Group and the domestic business would include its holdings in Yahoo Japan.
New Appointments
  • SoftBank Group today appointed Nikesh Arora to lead the company's overseas operations, after it announced splitting into two companies to separate its domestic and global operations. 
    • Arora is currently working as SoftBank’s President and Chief Operating Officer. 
    • Further, SoftBank appointed its current Director Ken Miyauchi to lead the company's business in Japan.

Awards & Honors
  • French President Francois Hollande has presented the Legion d’Honneur, the country's highest honour, to visiting Saudi Crown Prince Mohammed bin Nayef for his “efforts in the fight against terrorism and extremism”. 
  • Renowned Dogri poetess and writer Padma Sachdev has been awarded Krutitava Smagra Samman for 2015 by the Kolkata's Bharatiya Bhasha Parishad.
    • Sachdev received this award for her outstanding contribution in literature and great service to Dogri Language.

  • The man widely credited as the inventor of the email and '@' symbol, Ray Tomlinson (74) passed away. 
    • Tomlinson invented direct electronic messages between users on different machines on a certain network in 1971.

Science & Technology
  • The Indian Space Research Organisation (ISRO) will launch its 6th navigation satellite into the Earth’s orbit on March 10
    • The 1,425-kilogram IRNSS-1F satellite will be launched on a Polar Satellite Launch Vehicle from Sriharikota in Andhra Pradesh.
    •  The seventh and the last satellite under the indigenous 'Indian Regional Navigation Satellite System' is also expected to be launched in 2016.

  • 6th edition of T20 World Cup Cricket to kick off in Nagpur from tomorrow.
    • This tournament will be held from 8th March 2016 to 3rd April 2016.
    • For the first time, India is hosting this tournament.
  • Lasith Malinga has resigned as the captain of the Sri Lanka T20I team ahead of the ICC World T20. 
    •  Angelo Mathews will lead Sri Lanka in the World T20.
  • India has won the 2016 Asia Cup T20 trophy for a record sixth time after beating Bangladesh by 8 wickets in the final.
    • Man of the Match : Shikhar Dhawan.
    • Man of the series : Sabbir Rahman (Bangladesh).
    • Most runs in the series : Sabbir Rahman (176) of Bangladesh.
    • Most wickets in the series :   Al-Amin Hossain (11) of Bangladesh

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