Daily Current Affairs Updates– 4th March 2017:
Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.
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Maha govt announces draft policy to attract $5 bn investment:
Maharashtra government today announced a draft defense and aerospace manufacturing policy to attract investment of 5 billion dollars over a period of five years.
The highlight of the policy is creation of a fund of 1000 crore rupees to support defense manufacturers, especially the medium and small manufacturing enterprises.
Announcing the policy, Chief Minister Devendra Fadnavis said, Maharashtra is the first state to declare such a policy.
He said, the draft will be finalised after incorporating suggestions made by the industry and the defense ministry.
GST Council approves final draft of Central GST, Integrated GST laws:
The GST Council today approved the final draft of Central GST and Integrated GST laws in its meeting headed by Finance Minister Arun Jaitley in New Delhi.
Briefing media in New Delhi, Mr Jaitley said, the UT-GST and SGST laws will be approved in the next meeting on 16th of this month.
The compensation bill has been approved by the Council in its last meeting at Udaipur. These legislative proposals will be taken up in the second half of Budget session of Parliament beginning next week.
Govt makes Aadhaar mandatory to avail mid-day meals:
The Centre has made Aadhaar number mandatory for students to avail mid-day meals and has given time till June 30 to those without an Aadhaar number. The rule will be applicable across India except Jammu and Kashmir, Meghalaya and Assam. Further, the cook-cum-helpers working under the scheme would also be required to furnish their Aadhaar number.
Jammu and Kashmir: the anti militancy operation at a village in Shopian district was called off:
In Jammu and Kashmir, the anti militancy operation at a village in Shopian district was called off today as no contact with the suspected hiding militants was established during a cordon and search operation. The security forces intensified operation in Chillipora Sugan Heff village under Zainpora police station this morning. No collateral damage was reported.
A brief encounter erupted last night after Army and SOG of J&K police launched cordon and search operation in the area. Security sources told AIR that there was specific input about the presence of at least two to three militants hiding in the area.
Government to launch 'I am Trolled' app for women:
The government will launch an 'I am Trolled' app to help women internet users threatened with physical violence or trolled on social media, Union Minister Maneka Gandhi said on Friday. "It is unfortunate to see that women are equally abusive on social media as men," she added. Further, 'panic button' for women will also be functional from March-end, Gandhi said.
International:
U.S. to temporarily suspend premium processing of H-1B visas:
The United States announced that from April 3 it would temporarily suspend the ‘premium processing’ of H-1B visas that allowed some companies to jump the queue as part of its efforts to clear the backlog.
The U.S. Citizenship and Immigration Services (USCIS) announced that it would start accepting the H-1B visa applications for the fiscal year 2018 beginning October 1, 2017, from April 3.
It also announced the temporary suspension of the premium processing of H-1B visas beginning April 3. The H-1B visas are widely used by Indian IT majors. “This temporary suspension will help us to reduce overall H-1B processing time,” the USCIS said.
China to increase military spending by 7% in 2017:
China says, it will increase military spending by about 7 percent this year, just days after Donald Trump outlined a boost to the US defence budget.
At a press conference ahead of Parliament session, Government spokeswoman, Fu Ying, said in Beijing that the defense spending would account for about 1.3 percent of GDP, the same level as the past few years. She said future Chinese expenditure will depend on US actions in the region.
Trump regime has a positive view of Indo-U.S. ties and goodwill: Jaishankar:
India does not expect any conflict between its 'Make in India programme' and U.S President Donald Trump's push for expanding manufacturing in America, Foreign Secretary S Jaishankar has said.
“Overall sense is that the administration has a very positive view of India and India-US relations. We saw a lot of goodwill and interest in taking this relation forward,” Mr. Jaishankar said during a press conference after a series of meetings with officials of the Trump administration and lawmakers in the U.S capital this week.
Iran successfully test-fired a sophisticated Russian-made air defence system:
Iran successfully test-fired a sophisticated Russian-made air defence system, the official IRNA news agency reported on Saturday.
The report said the test of the S-300 system came during a recent military exercise named Damvand, the name of Iran’s highest mountain.
It said the test targeted various flying objects, including missiles. With a range of up to 200 kilometres (125 miles) the S-300 is capable of simultaneously tracking and striking multiple targets.
MOUS AND AGREEMENTS:
Google India inks MoU with Telangana government:
Google India and Telangana government have signed a Memorandum of Understanding (MoU) aimed at supporting the digitisation efforts of the state.
Google India will provide Google Cloud credits and access to all cloud platform products to eligible startups engaged with Telangana government’s T—Hub initiative and through its Developer Relations team provide technical mentorship and advisory support to various startups, a release issued by the government.
BANKING NEWS:
RBI asks banks to organize special camps to educate public about digital payments:
The Reserve Bank of India has asked bank-operated Financial Literacy Centers, FLCs and rural branches to organize special camps starting from April 1 to educate public about digital payments through Unified Payments Interface, UPI and Unstructured Supplementary Service Data-based,USSD, “*99#” service code platforms. The camps will be conducted for one year.
The RBI said that the policy on conducting such camps has been revised given the recent developments after demonetarization and focus on going digital. AIR correspondent reports that the Unified Payments Interface or the UPI through which the RBI wishes to encourage the payment during the camps, is a system that powers multiple bank accounts into a single mobile application. While the *99# USSD is a telecom service for fund transfer that works without internet.
BUSINESS AND ECONOMY:
For the first time Bitcoin becomes more valuable than gold:
The price of digital currency bitcoin surged to around $1,282, making it worth more than an ounce of gold (worth $1,227.6) for the first time ever. Further, the market capitalisation of all outstanding bitcoins also surpassed $20 billion for the first time in bitcoin's history. The cryptocurrency traded at around $200 per bitcoin a year ago.
India foreign exchange reserves increases by USD 63.7 million:
India's foreign exchange reserves increased by USD 63.7 million to USD 362.79 billion in the week ended 24th February 2017.
A RBI press release has informed that foreign currency assets, a major part of the overall reserves increased by 63.4 million to USD 339.783 billion. In the previous week, the reserves had declined by USD 56.8 million to USD 362.73 billion.
Gold reserves remained unchanged at 19.248 billion. India's special drawing rights with the International Monetary Fund rose by a marginal USD 100,000 to USD 1.444 billion, while the country's reserve position also increased by USD 0.2 million to USD 2.318 billion.
India to lead world in smart phone adoption:
India will lead the world in smart phone adoption with a net addition of 350 million connections in 2016-20.
A GSM Association report released in Barcelona says, the estimates are based on the GSMA Intelligence Consumer Survey 2016 conducted across 56 countries on the mobile usage trend.
Smart phones accounted for 51 per cent of mobile connections at the end of 2016.
Union Bank of India to strengthen its loan portfolio:
Union Bank of India will strengthen its loan portfolio under retail, agriculture and MSME (RAM) to achieve its growth in advances, said a top official.
For the year ended December 31, 2016, Union Bank’s RAM share in domestic advances stood at 54.8% against 51.1% for the corresponding period a year-ago. This will increase to 60% in a year’s time.
“Whatever the growth guidance, we gave in the past three years in advances and deposits, we achieved those numbers. We are on track and my growth will come from retail, agriculture and MSME,” said Arun Tiwari, Chairman and Managing Director, Union Bank.
SPORTS NEWS:
Rohan Bopanna, Marcin Matkowski to play Dubai Duty Free Tennis Championships final:
India's Rohan Bopanna and his Polish partner Marcin Matkowski will play the men's doubles final of the Dubai Duty Free Tennis Championships today.
The unseeded pair clash with fourth seeded Rojer Jean-Julien of Netherlands and Tecau Horia of Romania. Bopanna Matkowski duo knocked out the Indo spanish pair of Leander Paes and Guillermo Garcia-Lopez 6-3, 3-6,10-6 in the semi-final of the hard court tournament yesterday.
This was the second best performance of the season for Bopanna, who is playing with his fourth different partner of the season. There is no Indian competing in the singles of the championships.
Former MP, diplomat Syed Shahabuddin passes away at 82:
Former Indian Foreign Services officer and politician Syed Shahabuddin passed away on Saturday following prolonged illness, a close aide said. The 82-year-old leader was a former President of the All India Muslim Majlis-e Mushawarat and also served three terms as a Member of Parliament from 1979-1996. He was known for his opposition to the demolition of the Babri Masjid.
French football legend Raymond Kopa passes away:
French football legend Raymond Kopa who won the European Cup three times with Real Madrid in the 1950s, died in Paris today after a long illness. The French Football League announced that a minute's silence would be observed before all weekend games in honour of the man who rose from a poor mining family in northern France to become one of Europe's greatest players. Real Madrid issued a statement lamenting the loss of a great star. Kopa was also central part of the French side beaten by Pele's Brazil in a classic World Cup semi-final in 1958. In a statement French Presient Francois Hollande said, Kopa was one of France's most admired sportsmen.
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