Dear Friends,

Welcome to the Quick Gyan (QG) Section of D2G. QG is just a glimpse of what happened today all over the world.

Only For Serious Candidates : We strongly recommend you to read the Current Affairs in detail. For your convenience, we have provided quick links under the updates. Make use of it.

Always Keep Yourself Updated!!!

BANKING AND FINANCE

Government cancels recognition of Delhi Stock Exchange

The government has formally withdrawn the recognition of Delhi Stock Exchange, more than a year after capital market regulator Sebi derecognised the bourse citing “serious irregularities” in its functioning.

• DSE was among the few bourses that were given permanent recognition by the Securities and Exchange Board of India (Sebi), as per information available on the regulator’s website.
• In a notification dated March 16, the Finance Ministry said the recognition granted to the Delhi Stock Exchange Ltd “stands withdrawn”.
• Under certain provisions of the Securities Contracts (Regulation) Act, 1956, the recognition to a recognised stock exchange can be withdrawn if it “has not been corporatised and demutualised within the specified time”.
• In August 2005, Sebi had notified DSE Ltd (Corporatisation and Demutualisation) Scheme, 2005.
• Under demutualisation, management and trading at a stock exchange are separated while corporatisation refers to running a bourse like a company.
• After finding “serious irregularities” in its functioning, Sebi had earlier decided to withdraw recognition granted to the exchange.

Quick Link – Delhi Stock Exchange

IRDA gives nod to LIC to invest in PSBs

Insurance regulator IRDA is satisfied with the investments of LIC in public sector banks. After a scrutiny of its investments in PSU banks, the regulator has given a clean chit to the largest domestic institution with assets of close to Rs 18 lakh crore.

• IRDA along with regulators, including the RBI and the Sebi, is conducting regulatory scrutiny of large institutions which can pose systemic risk in the economy.
• According to IRDA officials, in a total investment portfolio of around Rs 22,00,000 crore, LIC’s equity investment is just 6-7 per cent and investments in banks are still a smaller portion.
• LIC has followed the due diligence while making investment in the banks.
• LIC had made a profit of Rs 24,373 crore from the equity market in 2014-15 as against a profit of Rs 21,257 crore in the financial year 2014, which is a gain of 14.65 per cent.

Quick Link – IRDA to LIC in PSB

INDIAN AFFAIRS

Chhattisgarh disburses over Rs 1,800 crore under MUDRA Yojana

The Chhattisgarh government has disbursed Rs 1, 821-crore loans to several beneficiaries under the Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana (PMMY).

• The banks disbursed Rs 1821.50 crore to the beneficaries encouraging the young entrepreneurs to avail the benefits of the ambitious programme.
• The scheme was launched in April 2015 and was aimed to provide funding to the non-corporate, small business sector.
• According to officials, the scheme had been receiving good response in the state as youths were taking keen interest to avail the benefits.
• Under PMMY, loans between Rs 50,000 and Rs 10 lakh are provided to small entrepreneurs.
• Three products are available under the PMMY that include Shishu, Kishor and Tarun.
• The categories signify the stage of growth and funding needs of the beneficiary micro unit or entrepreneur.
• Shishu covers loans of up to Rs 50,000 while Kishor covers above Rs 50,000 and up to Rs 5 lakh. Tarun category provides loans of above Rs 5 lakh and up to Rs 10 lakh.

Quick Link – MUDRA Yojana

INTERNATIONAL AFFAIRS

Hinduja brothers top UK’s Asian Rich List

The Hinduja brothers have emerged as the richest Asian-origin entrepreneurs in Britain for the fourth consecutive year with an estimated personal fortune of 16.5 billion pounds.

• The India-born brothers GP Hinduja and SP Hinduja topped the ‘Asian Rich List 2016’ released and the annual rankings showed that they had added one billion pounds to their personal fortune in a year to be worth an estimated 16.5 billion pounds.
• The ‘Asian Rich List’ assesses the total wealth of Britain’s top 101 richest Asians and is compiled by UK-based publishing house Asian Media and Market.
•  Steel tycoon Lakshmi N Mittal was ranked second in the list, released by the Indian High Commissioner to the UK Navtej Sarna. The fortune of Mittal, however, has plummeted by 3.3 billion pounds to finish with 6.4 billion pounds.
• Sri Prakash Lohia, chairman of the Indorama Corporation, is listed 3rd richest with fortune worth 3 billion pounds.
• Leading NRI industrialist Lord Swraj Paul is listed as 15th richest with fortune worth 500 million pounds.

Quick Link – Hinduja brothers

World celebrating International Happiness Day

International Day of Happiness was observed on 20 March 2016 across the world. Red, the leader of the Angry Birds mobile game characters, was as appointed by the United Nations an envoy to inspire climate action toward a sustainable and happier future for all.

• Red’s appointment, as Honorary Ambassador for Green, is part of a UN campaign launched on 18 March 2016 in partnership with the globally renowned characters to make a direct link between tackling climate change and people’s happiness and well-being on the occasion of the International Day of Happiness.
• The campaign, in partnership with Sony Pictures Entertainment, the UN Development Programme (UNDP) and UN Foundation, asks the general public across the world to make the Angry Birds happy by taking actions on climate change.
• The campaign also requests the public to share their photos and commitments on social media platforms using the common hashtag #AngryBirdsHappyPlanet.
• Since 2013, the United Nations has been celebrating the International Day of Happiness as a way to recognise the importance of happiness in the lives of people around the world. Concept behind the International Day of Happiness.

Quick Link – International Happiness Day

World Sparrow Day – March 20

World Sparrow Day is observed on 20 March. It is a day designated to raise awareness of the house sparrow and other common birds to urban environments, and of threats to their populations.

• It is an international initiative by the Nature Forever Society of India in collaboration with the Eco-Sys Action Foundation (France) and numerous other national and international organisations across the world.
• Once found in huge numbers across the world, the small bird is slowly making its way to the endangered list.
• The day was celebrated by carrying out different various kinds of activities and events like art competitions, awareness campaigns, and sparrow processions as well as interactions with media.
• House sparrows can be easily recognized because they live very close to humans.
• This small bird originates from North Africa, but it has been successfully introduced to North America, Europe, Asia, Australia and New Zealand.

Quick Link – World Sparrow Day

FOREIGN RELATIONS

AYUSH Ministry to enter agreement with WHO

To popularise AYUSH system of medicine across the world, the ministry will enter into an agreement with WHO and a partnership with United States for research in AYUSH medicines for treatment of cancer.

• AYUSH is a very important sector and it should be propagated worldwide.
• To popularise AYUSH system of medicine across the world, the AYUSH Ministry is entering into an agreement with the WHO.
• MoUs have already been signed with several countries for bilateral cooperation in the field of traditional medicine.
• Central Research Councils and National Institute in the AYUSH Systems of Medicine along with the National Medicinal Plant Board (NMPB), Indian Medicines Pharmaceutical Corporations Limited (IMPCL) amongst others are showcasing their strengths in research, education and development of such products.

Quick Link – AYUSH system

MERGERS AND ACQUISITIONS

Ola turns ‘Micro’ for taking on Uber in India

Taxi-hailing app Ola expects its newly-launched affordable service ‘Micro’ alone to overtake rival Uber in terms of number of rides in a month’s time.

• Engaging in a war of words, the Softbank-backed company claimed that Micro, which is available in seven Indian cities, is on track to match the number of total rides of Uber in India within a month.
• Ola launched the Micro category a few weeks back, pricing it cheaper than its most affordable ‘Mini’ segment at about Rs 6 per km.
• Micro is available across Delhi, Bengaluru, Mumbai, Chennai, Kolkata, Hyderabad and Pune and will be launched in other cities as well.
• Interestingly, Uber President Asia Eric Alexander, in an interview, had said the company is on the verge of overtaking Ola in India.
• Ola claims it holds 75% of the Indian app-based taxi-hailing market, with over 3.5 lakh driver partners on its platform across the country.
• Ola’s solutions are ‘Made for India’ and it believes that this country needs hyperlocal, India-specific innovations, officials added.

Quick Link – Micro

SCIENCE AND TECHNOLOGY

USFDA nod for Aurobindo Pharma osteoporosis drug

Aurobindo Pharma Ltd has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Naproxen Sodium Tablets USP, 220 mg (OTC). This product is expected to be launched in Q1 of financial year 2016-17.

• The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Aleve Tablets of Bayer Healthcare LLC (Bayer).
• Naproxen Sodium Tablets is used in the treatment and prevention of osteoporosis in postmenopausal women. The approved product has an estimated market size of $96 million for the 12 months ending January 2016.
• This is the 66th ANDA (including 14 tentative approvals) to be approved out of Unit VII formulation facility in Hyderabad for manufacturing oral non-antibiotic products.
• Aurobindo now has 245 ANDA approvals (210 final approvals, including 10 from Aurolife Pharma LLC and 35 tentative approvals) from USFDA.

Quick Link – USFDA nod for Aurobindo

SPORTS

Nico Rosberg wins Australian Grand Prix

Mercedes’ Nico Rosberg won a dramatic Australian Grand Prix, after a huge crash for McLaren’s Fernando Alonso. A bad start dropped Lewis Hamilton from pole to sixth but he fought to second.

• Rosberg took advantage when the race was stopped following Alonso’s high-speed barrel-roll to switch strategy and overhaul early leader Ferrari’s Sebastian Vettel.
• Rosberg’s 15th career victory was also his fourth in succession after the German won the final three races of last season.
• His team mate and pole-sitter Lewis Hamilton finished second, some eight seconds behind after recovering from a chaotic start that pushed the defending world champion back to sixth at the first turn.
• The race arguably turned as a result of the terrifying accident involving Alonso and Esteban Gutierrez of new team Haas on lap 17.
• The two-time champion was clearly shaken but, although he limped away from his car, he was uninjured.

Quick Link – Nico Rosberg wins

Thank you 🙂 🙂 🙂