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!!!

APPOINTMENTS

Justice Permod Kohli appointed as Chairman of Central Administrative Tribunal

The Appointments Committee of the Cabinet (ACC) has approved the appointment of Mr. Justice Permod Kohli, retired Chief Justice of Sikkim High Court, as Chairman in the Central Administrative Tribunal.

• The appointment was for a period of five years with effect from the date of assumption of charge of the post, or till attaining the age of 68 years, whichever is earlier.

Justice (retd) Permod Kohli

• Born in 1951 in the town of Rajouri, Jammu and Kasmir, he joined Bar at Jammu in 1972.
• He became Advocate General of Jammu & Kashmir in December 1990.
• He is an expert in Constitutional, Civil and Taxation cases
• He remained Legal Advisor to Sri Mata Vaishno Devi Shrine Board and Sri Mata Vaishno Devi University till elevation.
• He as Judge has provided services to the High Courts of Jammu & Kashmir, Jharkhand and Punjab & Haryana.
• In 2011, he was elevated as the Chief Justice of the Sikkim High Court.

Quick Link – Permod Kohli as Chairman of CAT

BANKING AND FINANCE

South Indian Bank gets ISO 9001:2008 certification

South Indian Bank has announced that its personnel department has achieved the ISO 9001:2008 certification.

It is a remarkable achievement for the bank as only very few personnel departments have won this certification in the industry, said V G Mathew, MD & CEO of South Indian Bank.

• The ISO 9001:2008 certification acknowledges that the policies, practices and methods adopted by the department are system oriented and in tandem with international standards.
• ISO 9001:2008 specifies the requirements for a quality management system where an organization:
  a) Needs to demonstrate its ability to consistently provide product that meets customer and applicable regulatory requirements, and
  b) Aims to enhance customer satisfaction through the effective application of the system, including processes for continual improvement of the system and the assurance of conformity to customer and applicable regulatory requirements.
• The ISO 9001:2008 certification signifies a global benchmark in customer satisfaction, product quality, and leads to significant reduction in defect levels. The standard recognizes that the word “product” applies to services, processed material, hardware and software intended for, or required by your customer.

Quick Link – South Indian Bank

RBI revises liquidity measuring rules for Basel III

The Reserve Bank has revised certain rules on measuring liquidity for Basel-III norms, providing exemption to branches of foreign banks from submitting statement with regard to foreign currency.

• In view of developments since the issue of circulars regarding Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards, feedback received from the stakeholders and experience gained, it has been decided to amend certain provisions of these guidelines, RBI said in a notification.
• The revision also includes asking banks to exclude certain loans backed by deposits from liquidity coverage ratio calculations.
• As branches of foreign banks do not hold any foreign currency, they are exempted from submitting this statement with effect from the date of this circular, the revised guidelines said.
• All banks in India, including branches of foreign banks are required to report this on a monthly basis, going by the existing norms.
• The revised guidelines comes into effect from February 1, 2016.

Basel III

• Basel III (or the Third Basel Accord) is a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk.
• It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010–11, and was scheduled to be introduced from 2013 until 2015; however, changes from 1 April 2013 extended implementation until 31 March 2018 and again extended to 31 March 2019.
• The third installment of the Basel Accords (see Basel I, Basel II) was developed in response to the deficiencies in financial regulation revealed by the financial crisis of 2007–08.
• Basel III is intended to strengthen bank capital requirements by increasing bank liquidity and decreasing bank leverage.

Quick Link – RBI revises for Basel III

INDIAN AFFAIRS

Union Cabinet approved rupees 9000 crore for SBM

The Union Cabinet approved a $1.5 billion (about Rs 9,000 crore) offer of World Bank support for the Swachh Bharat Mission (SBM) in rural areas.

• The approval provides for a mechanism of incentivisation through World Bank credit. States’ performance will be gauged through performance indicators.

Fertiliser subsidy

• The government has also fixed the subsidy rates of phosphatic and potassic (P&K) fertilisers for 2016-17, with an estimated outgo of Rs 21,274 crore, at the same estimated level of consumption as in 2015-16, at about 31 million tonnes.
• The Cabinet Committee on Economic Affairs approved Rs 15.8 per kg for nitrogen, Rs 13.2 per kg for phosphorus, Rs 15.4 per kg potash and Rs 2.04 per kg for sulphur.
• Under the policy since April 2010, the subsidy on P&K fertilisers is announced annually for each of these four nutrients on a per kg basis, then converted into subsidy per tonne. The rates are determined by taking into account the international and domestic prices of P&K fertiliser, exchange rate and inventory levels.

Bhutan hydro project

• The Cabinet approved a revised cost of Rs 4,021 crore for the 720 Mw Mangadechhu Hydroelectric Project in Bhutan, under implementation. 
• The project will provide surplus power to India and the bilateral agreement was signed in April 2010, at an estimated Rs 2,896 crore (March 2008 prices).
• The Government of India is funding it, with 30 per cent being a grant and 70 per cent a loan, at 10 per cent annual interest, to be paid back in 30 equal six-month instalments.

Quick Link – SBM

Himachal Pradesh to have electric buses under FAME scheme

The department of heavy industry has granted in-principle approval to Himachal Road Transport Corporation (HRTC) and Mumbai Metropolitan Region Development Authority (MMRDA) to introduce zero-emission retrofitted electric buses under its flagship scheme FAME India (faster adoption and manufacturing of hybrid & electric vehicles in India).

• HRTC and MMRDA will roll out 25 electric buses each.
• Under FAME India, the department will fund up to 75 per cent cost of the buses.
• Himachal Pradesh Chief Minister Virbhadra Singh, who also holds the finance portfolio, had mentioned in his Budget speech that Himachal Pradesh would be the first state in India to introduce zero-emission electric buses.
• The chief minister also announced exemption from token tax, registration charges and value-added tax on all electric vehicles for five years to promote eco-friendly transport services in the state.
• While HRTC is the state transport corporation of Himachal Pradesh, MMRDA is responsible for preparing plans, formulating policies and programmes, implementing projects and directing investments in the Mumbai metropolitan region.
• The flagship scheme was announced in April 2015 with a total capital outlay of Rs 795 crore in the first two financial years starting with the current year.
• With this, the government hopes to save Rs 60,000 crore annually on the country’s oil import bill by 2020.

Quick Link – HRTC

Indian Coast Guard vessel Arnvesh commissioned

The Fast Patrol Vessel (FPV), ICGS Arnvesh, of the Indian Coast Guard (ICG) was commissioned on 21 March 2016 in Visakhapatnam. The vessel was commissioned by the Flag Officer Commanding-in-Chief of the Eastern Naval Command, Vice-Admiral HCS Bisht.

• The ship is primarily intended to undertake surveillance at sea, coastal patrol, anti-smuggling and anti-piracy operations.
• Arnvesh is equipped with the most-advanced navigational and communication sensors and equipment, including night vision capabilities, and is fitted with 40/60 Bofors gun onboard as main armament.
• Arnvesh is the 16th vessel among the 20 vessels in this category being constructed by Cochin Shipyard Limited.
• The ship is built by the Cochin Shipyard Ltd.
• The ship will be manned by five officers and 35 enrolled personnel.
• The 300-tonne and 50-m long vessel is propelled by triple Rolls Royce Kamewa water jets and can achieve a maximum speed of 33 knots.

Quick Link – ICGS Arnvesh

Union Government launches Longitudinal Ageing Study in India

The Ministry of Health & Family Welfare launched the Longitudinal Ageing Study in India (LASI). THe main objective is to assess the needs of its elderly people and frame policies accordingly. It will survey more than 60,000 elderly over 25 years plan. He further added that this survey will provide scientifically validated data on various issues of the elderly.

• LASI is the largest study on older population in the country.
• The International Institute for Population Sciences (IIPS), Mumbai in collaboration with Harvard School of Public Health (HSPH) and University of Southern California (USC), USA is undertaking the “The Longitudinal Ageing Study in India” under the aegis of the Ministry of Union Health and Family Welfare.
• LASI is jointly funded by the Union Ministry of Health and Family Welfare, the United States’ National Institute on Ageing, and the United Nations Population Fund-India.
• It will provide Union Health Ministry sufficient data on older population in the country that in turn would be used to develop a scientifically validated data needed for their health, economic and social analysis of the older population.
• It will investigate various health structures, and impact of social determinants on health of the elderly.
• It will provide scientific data for framing evidence-based policy for elderly citizens and help in expanding the scope of health and social security policy and programmes for older population.

Quick Link – Longitudinal Ageing Study in India

Cabinet approves construction of one crore houses

Government has decided to construct 2.95 crore houses in rural areas under its ambitious Housing for All by 2022 scheme.

• The Union Cabinet, in a meeting chaired by Prime Minister Narendra Modi, gave its nod for the implementation of the rural component of the scheme.
• The government will have to spend nearly Rs 81,975 crore over construction of the one crore houses in the first three years of the Pradhan Mantri Awaas Yojana-Gramin under which it will provide financial assistance of Rs 1.20 lakh to those living in plain areas and Rs 1.30 lakh to those in “hilly and difficult” areas.
• The scheme would be implemented in rural areas throughout the country except Delhi and Chandigarh. The cost of houses would be shared between the Centre and the states.
• The Union Cabinet had in June last year approved the launch of the ‘Housing for All by 2022‘ programme for the rehabilitation of slum-dwellers and promotion of affordable housing for the urban poor, targeting to provide nearly 20 million houses over seven years.

Quick Link – 2.95 crore houses

INTERNATIONAL AFFAIRS

World Tuberculosis Day – March 24

World Tuberculosis Day is observed on March 24 every year. It is designed to build public awareness about the global epidemic of tuberculosis (TB) and efforts to eliminate the disease.

2016 Theme – “Unite to End TB”

• March 24 commemorates the day in 1882 when Dr Robert Koch astounded the scientific community by announcing to a small group of scientists at the University of Berlin’s Institute of Hygiene that he had discovered the cause of tuberculosis, the TB bacillus
• An ancient disease that has claimed many millions of lives, tuberculosis continues to wreak havoc on public health in many countries in this century.
• As we know, TB spreads from person-to-person through the air.
• TB most heavily impacts the urban poor, where undernourished people live in crowded conditions and commonly face economic, social and cultural barriers to completing the minimum of six months of treatment.
• Currently there is no effective TB vaccine. The standard TB medicines are more than 50 years old and require at least six months of use. Treating multi-drug resistant TB is even longer, involves injections and is arduous.
• TB kills 4000 people globally a day.

Quick Link – World Tuberculosis Day

FOREIGN RELATIONS

Cabinet gives nod for MOU between India and UAE to mobilise long-term investment

• The objective of NIIF is to maximize economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects; NIIF would solicit equity participation from strategic anchor partners.
• The MoU will help establish a transparent and high-level framework and collaboration platform under which both countries intend to explore ways to facilitate and expand the participation of UAE’s investment institutions in appropriate infrastructure projects and institutions in India including NIIF, in a manner consistent with the established investment criteria and standards in a mutually agreed manner.
• A joint working group comprising of the concerned representatives of both parties would take forward cooperation under this MOU and to discuss and agree the terms, principles and criteria jointly.
• NIIF is a fund created by the Govt of India for enhancing infrastructure financing in the country.
• The mandate of the NIIF includes investment in commercially viable and stalled projects.
• Corpus – Rs. 40000 crore; govt and other investors would contribute Rs. 20000 crore each.
• NIIF would be a fund of funds, so there will be multiple alternate investment funds underneath such as stressed-assets fund, renewable energy fund, etc.

Quick Link – India and UAE to mobilise long-term investment

India and France sign MoU for construction of six nuclear reactors at Jaitapur

India and France have signed a memorandum of understanding (MoU) for construction of six nuclear reactors at Jaitapur in Maharashtra, two months after the two countries decided to conclude the techno-commercial negotiations for the project by the year end.

• The pact was inked at the end of the two-day visit of a high-level delegation of Electricite de France (EDF) — French public utility — to Mumbai for holding discussions with the Nuclear Power Corporation of India Ltd (NPCIL) on the construction of the plants.
• French Ambassador to India Francois Richier, who was present on the occasion, reiterated his country’s commitment to working seamlessly with India through a collaborative approach to enable both sides to contribute collectively to the development of nuclear energy in India in the most economical manner.
• The Jaitapur nuclear power project, proposing a nuclear power plant of 9900 MW, consists of 6 European Pressurised Reactors (EPR) of 1650 MW each.

Quick Link – India and France six nuclear reactors at Jaitapur

SPORTS

9th International Abilympics started in France

A 19-member Indian team left for Bordeaux in France to compete in the 9th International Abilympics, an event for persons with disabilities, from March 23 to 27.

• The athletes are being supported by the Hans Foundation, a charitable trust fund.
• Abilympics, coined from Olympics of abilities of persons with disabilities (PWDs), is a global work skills competition held every four years.
• It aims to promote social awareness in the field of skills development and employment both locally and internationally, and foster friendship among the competing nations.
• The contingent of 19 participants was selected from across the country such as Ahmedabad, Pune, Gwalior and Jabalpur (MP), Delhi, Bihar, Allahabad, Chennai and others, to represent India in Bordeaux this year.

Abilympics

• Abilympic are vocational skill competitions for persons with disabilities to enable them to showcase and enhance their talent. Abilympic empower the contestants and help create public awareness about their abilities.
• The National Abilympic Association of India was formed in May 2001 at the behest of the Minitrsies of Social Justice & Empowerment and Human Resource Development, Government of India to serve as a nodal agency to formulate, initiate and implement policies to propogate Abilympics in the country.
• The Mission of National Abilympic Association of India is to create public awareness and nurture the productive talents of persons with disabilities by providing them opportunities to acquire and enhance their vocational skills to achieve economic independence.

Quick Link – 9th International Abilympics

OBITUARY

Football legend Johan Cryuff passes away

Johan Cruyff aka Flying Dutchman, the legendary Dutch football striker and coach, has died of lung cancer at the age of 68. As a player, Cruyff was the embodiment of Dutch “total football”, a fluid style of play focused on ball possession and rapid passing, and involving all members of the team in both attack and defence.

• He emerged as one of the world’s greats in the early 1970s when he helped Ajax Amsterdam win three European Cups in a row from 1971-73, and he was named European Footballer of the Year in 1971, 1973 and 1974.
• He joined Barcelona for a then-world record transfer fee of $2.0 million, and it was the Catalan club that later defined his coaching career as he led them to their first La Liga title in nearly 15 years in 1974.
• He was also a key player in the great Netherlands team that reached the 1974 World Cup final.
• Cruyff had been a heavy smoker, and had had heart surgery in 1991.
• His death comes less than six months after he announced that he had been diagnosed with lung cancer.

Quick Link – Johan Cryuff passes away

Thank you 🙂 🙂 🙂