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March 03, 2017

3rd March 2017 Important Daily Current Affairs

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Dear Great Ambitionists, here are today's (3rd March 2017) Important Current Affairs updates. Happy Reading :)

Daily Current Affairs of 3rd March 2017

International Current Affairs
  • Today (3rd March) is World Wildlife Day.
    • All UN Member States observe this day to celebrate and raise awareness of the world’s wild fauna and flora.
    • On 20 December 2013, at its 68th session, the United Nations General Assembly (UNGA) decided to proclaim 3 March, the day of the adoption of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), as World Wildlife Day.
    • This day was proposed by Thailand.
    •  Theme of World Wildlife Day 2017 : "Listen to the young voices"
  • India is going to participate in the meeting of Permanent Indus Commission, scheduled to be held in Lahore in March.
    • This comes after Pakistan reportedly forwarded the invitation to India to resolve the Indus Water Treaty. 
  • Sweden has announced that it will reintroduce Compulsory Military Service for both Men and Women to respond to global security challenges including those from Russia. 
    • Under the proposal, around 4,000 people born in and after 1999 will be chosen to undergo basic military training each year. 
    • Note : Sweden ended compulsory military service in 2010 after finding it unsatisfactory for modern needs.
National Current Affairs
  • The Himachal Pradesh government today approved a proposal to make Dharamshala the 2nd Capital of the state
    • The decision came days before the presentation of the state budget which is scheduled to take place on March 10. 
    • Following the decision, a mini secretariat would come up in Dharamshala to house the offices of ministers and senior officers.
  • The Delhi government has tied up with as many as 41 private hospitals in Delhi to facilitate 30 types of surgeries free of cost for patients referred by the national capital's government hospitals. 
    • These hospitals will be compensated at government rates for the complete treatment. 
  • The central government has approved a record 4,000 Post Graduate medical seats in medical colleges and hospitals for the 2017-18 academic session
    • This takes the total number of PG seats available across India to 35,117.
  • Following pressure from citizens and green activists, the Karnataka government today abandoned the controversial Steel Flyover Project in Bengaluru, saving at least 800 trees from being cut. 
    • The National Green Tribunal had in October 2016 stayed the 6.9-km project which was estimated to cost ₹1,761 crore.
Science & Technology
  • The Defence Research and Development Organisation (DRDO) today formally handed over weapon-locating radar 'Swati' to the Indian Army. 
    • Defence Minister Manohar Parrikar said its deployment will reduce artillery fire from across the border. 
    • The weapon-locating radar, which can also guide fire from artillery guns, provides fast and accurate location of enemy artillery including mortars and rockets.
  • Virgin Group's billionaire Founder Richard Branson has launched 'Virgin Orbit', a new company to launch small satellites into space using its LauncherOne orbital launch vehicle
    • The LauncherOne is a Boeing 747-400 airliner designed to hold a rocket under its wing. 
    • It fires the rocket into space to deliver satellites for other companies working in the space and internet fields.
MOUs & Agreements
  • Online travel company has announced that it signed an agreement with the Madhya Pradesh government to jointly promote homestays in the state. 
    • Under the agreement, Yatra will promote state tourism-approved homestays, where travellers can book a room with a local family or the entire house. 
    • Note : Yatra had recently signed agreements with the Uttarakhand, Andhra Pradesh and Gujarat governments.
  • French football legend Raymond Kopa, who won European Cup three times with Real Madrid C.F. in the 1950s, died today after a long illness.
Business & Economic Affairs
  • The I-T Department today warned that people who undertake Benami transactions will face rigorous imprisonment of up to 7 years besides being liable to pay fine of around 25% of the fair market value of Benami properties. 
    • Further, it said Benami properties may be confiscated and this will be in addition to action under other laws like Income Tax Act.
    • What are Benami Properties / Transactions ?
      • Benami properties are properties bought by an individual, not under his or her name. 
      • This can include properties held in the name of a spouse or a child. 
      • Transactions involved in the same are called Benami transactions and are used to evade taxes as the real owners of such properties are difficult to trace due to fake names and identities.
  • The Railways is going to start Aadhaar-based online ticketing system to prevent touts from blocking tickets in bulk and fraudulent bookings.
    • A ticketing app will also be launched by May to promote cashless transaction. 
    • As per its new business plan, Railways will install 6,000 point-of-sale machines and 1,000 automatic ticket vending machines to promote cashless ticketing.
  • New cash transaction charges by banks :
    • HDFC Bank, ICICI Bank, and Axis Bank will now charge a minimum ₹150 per transaction for cash deposits and withdrawals beyond four free transactions monthly. 
    • Aiming to reduce cash transactions, the banks will calculate the fee at a rate of ₹5 per ₹1,000 transacted or ₹150, whichever is higher. 
    • Note : These charges are for transactions in branches and not ATMs.

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