12th March 2015 - Important Current Affairs updates

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New Appointments

• The government today approved appointment of nine Executive Directors (EDs) in various public sector banks, including BoB, BoI and Canara Bank. 
• Allahabad Bank - NK Sahoo
• Bank of Baroda - K Venkata Rama Moorthy
• Bank of India- RP Marathe
• Canara Bank - Harideesh Kumar B 
• Central Bank of India - RC Lodha 
• Indian Overseas Bank - Pawan Kumar Bajaj
• Syndicate Bank - Ravi Shankar Pandey 
• UCO Bank - Charan Singh 
• Union Bank of India - Kishore Piraji Khara
• Note : Andhra Bank's ED post is still vacant.

International Affairs

• Today is World Kidney Day.
• This day is observed annually on the 2nd Thursday in March.
  
• This is a global health awareness campaign focusing on the importance of the kidneys and reducing the frequency and impact of kidney disease and its associated health problems worldwide.
• Mauritius celebrates 47th National Day today.
• Chief Guest : India's Prime Minister Narendra Modi
• PM Narendra Modi meets Mauritius President Rajkeshwar Prayag and discusses issues of mutual interest
• India‬ and ‎Mauritius‬ sign five MoUs, those are
• MoU on Ocean Economy.
• Programme for Cultural Cooperation between India and Mauritius for the year 2015-18.
• Protocol between the Department of Agriculture and Cooperation, Ministry of Agriculture of Republic of India and the Ministry of Agro-Industry and Food Security of Mauritius for the importation of fresh mangoes from India.
• MoU for the Improvement in Sea and Air Transportation Facilities at Agalega Island of Mauritius.
• MoU on Cooperation in the field of Traditional System of Medicine and Homeopathy.
• Prime Minister of Mauritius - Sir Anerood Jugnuth
• Sri Lanka has decided to release 86 Indian fishermen as a goodwill gesture to mark PM Narendra Modi's visit
• U.S. Secretary of State John Kerry is on a visit to Sharm el-Sheikh to attend Egypt’s Economic Development Conference.
• The economic summit, scheduled to be held in Sharm el-Sheikh from March 13-15, is expected to bring investments needed to boost Egypt’s economy, which has been hard-hit since the January 25 Revolution and its consequent political instability.

National Affairs

• Parliament today passed the controversial Insurance Laws (Amendment) Bill, 2015, which replaced an ordinance promulgated in December last year, by voice vote
• This bill proposes to raise foreign investment in the sector to 49% from the current 26% but with a rider that management control should be with Indians. 

Business & Economy

• International Monetary Fund (‪‎IMF‬) has raised India's growth forecast for the current fiscal to 7.2 per cent.
• In its annual assessment report for the country, IMF said that ‎India‬ has emerged as one of the fastest-growing big emerging market economies and the growth rate would grow by 7.5 per cent.
• Retail inflation inches up to 5.37 per cent in February this year from the previous month, due to higher prices of food items, including vegetables.
• South Korea’s central bank unexpectedly lowered its key policy rate today to a record low of 1.75 per cent from 2 per cent, joining efforts to fight sluggish domestic spending and aid economic growth.
• The quarter of a percentage point cut was the first interest rate cut by the Bank of Korea’s policymakers in five months.
• The Reserve Bank of India (RBI) included Macau and Hong Kong, the two Special Administrative Regions of China, in the list of countries whose citizens are prohibited from acquiring or transferring immovable property in India. 
• So far citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan were only prohibited from acquiring or transferring immovable property in India without prior permission of the Reserve Bank of India, other than lease, not exceeding five years.

People in News

• The national tourism agency of England, 'Visit Britain' signed Bollywood actor and producer Saif Ali Khan to promote an India-centric British campaign.
• The actor was signed for the campaign known as 'Bollywood Britain'.
• The promotional campaign is likely to include locations like London, Oxford, Cardiff which are popular with Indian tourists and have also been featured in many other Bollywood movies.

Science & Technology

• In a breakthrough, Japanese researchers have successfully transmitted electric power wirelessly to a pinpoint target using microwaves, an advance that brings space-based solar power closer to reality.
• According to Japan Aerospace Exploration Agency, or Jaxa, the researchers were able to transform 1.8 kilowatts of electric power into microwaves and transmit it with accuracy into a receiver located 55 metres away.
• The experiment was the first in the world to send out high-output microwaves wirelessly to a small target.

Sports

• World Cup
• South Africa score a 146 run victory over UAE to advance to quarter finals of the ICC World Cup.
• Karnataka defeat Tamil Nadu by an innings and 217 runs to retain Ranji Trophy title.

Read more Daily Current Affairs updates from here

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