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Current Affairs – March 5, 2018 World News

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Current Affairs – March 5, 2018 World News Current Affairs – March 5, 2018 World News China sets GDP growth target of 6.5 percent for 2018 China has set its Gross Domestic Product (GDP) growth target at around 6.5 percent for the year 2018-19. The figures are, however, slightly lower than previous figures of 6.7 percent in 2016 and 6.8 percent in 2017 respectively. China will still remain as one of the world’s fastest-growing economies in the world. India, Vietnam Inks three MoUs India and Vietnam inked three agreements in the areas of trade, agriculture and atomic energy. The countries signed an MoU on economic and trade cooperation to establish a framework for enhancing economic and trade promotion. Another MoU signed on Cooperation between the Global Centre for Nuclear Energy Partnership, India (GCNEP) and the Vietnam Atomic Energy Institute (VINATOM) to strengthen the technical cooperation in the field of atomic energy for peaceful purposes. The purpose of this Work Plan is to promote cooperation in the transfer of technology and exchange of visits of technical experts in the fields of agriculture and allied. Marshall Islands 1st country to launch own cryptocurrency as legal tender The Marshall Islands is creating its own digital currency in a bid to raise money. In doing so it becomes the first country in the world to recognize a cryptocurrency as legal tender. The small Pacific Island nation passed the Sovereign Currency Act to create the ‘sovereign’, or SOV. The cryptocurrency will have equal status with the US dollar and, unlike many cryptocurrencies, users will have to reveal their identity in order to use SOV. National News Air Asia India going to begin overseas operations by January 2019 Budget carrier Air Asia India has charted out expansion plans to connect more tier-II and III cities. They set a target to commence flights to overseas destinations by January 2019. The airliner last week inducted its 16th aircraft and announced the addition of Nagpur and Indore to its list of destinations. CBI to probe 'leak' of questions of Staff Selection Commission exam: Rajnath Singh The Central government has ordered a CBI probe into the alleged paper leak in a test conducted by the Staff Selection Commission (SSC) last month, Union Home Minister Rajnath Singh said on Monday. The instructions were issued a day after the SSC wrote to the Department of Personnel and Training requesting a CBI inquiry into the allegations that questions of the Combined Graduate Level (Tier-II) Examination-2017 were leaked. It has been alleged that questions of Paper-I held on February 21 were leaked. State News Himachal to set up medicinal plant board centre The Himachal Pradesh government on Monday approved the setting up of a regional- cum-facilitation centre of the National Medicinal Plants Board of the Ministry of Ayush in the state at an outlay of Rs 748.30 lakh. The centre will be set up in Jogindernagar town in Mandi district. The aim of the centre is to provide inputs for conservation, cultivation, technology upgradation, sale of medicinal plants, training and research, and development of region- specific planting material. I&B Minister Smiriti Irani inaugurates FICCI Frame in Mumbai Information and Broadcasting Minister Smiriti Irani has inaugurated 2018 edition of FICCI Frame in Mumbai. The three- day global convention covering the entire gamut of Media and Entertainment Industry will attract not only the industry stakeholders from across the world but also the government policy makers from India and abroad. Karnataka Unveils Healthcare Scheme 'Arogya Karnataka' Karnataka Chief Minister Siddaramaiah unveiled a healthcare scheme named 'Arogya Karnataka' (Healthy Karnataka) aimed at benefitting about 1.43 crore households in the state. It will provide quality primary, secondary and tertiary treatment to both below-poverty- line (BPL) and above-poverty-line (APL) families in the state. Through the scheme, all the BPL households will get free treatment at government hospitals while for APL households, the state will bear about 30% of the treatment cost. Shigmotsav 2018 Celebrated In Goa Shigmotsav has been organized enthusiastically in Goa. Shigmotsav or Shigmo is one of the several cultural festivals of the coastal state and is celebrated through colours, costumes, music, dance and parades. Shigmo parades offer glimpses of Goan life depicted through folk dance and music performances by locals. Week-long International Yoga festival held in Rishikesh The week-long 29th annual, world-famous International Yoga Festival (IYF) international yoga festival was inaugurated in Rishikesh, Uttarakhand. The IYF offers daily classes in meditation, mudras, Sanskrit chanting, reiki, Indian philosophy and spiritual discourses to be held by revered spiritual leaders from India and abroad. Banking & Economy Citibank India launches home loans linked to T-Bill Citibank introduced a new variable interest rate mortgage product that will be linked to the 90-day Treasury bills and will change every quarter. Citibank will charge a spread above the 90-day Treasury bill rate based on the borrower profile. Changes will be made in the rates once in every quarter on March 1, June 1, September 1 and December 1. Citibank will take the t-bill rate on 12th of February, May, August and November from Financial Benchmarks India Pvt Ltd to fix the benchmark rate. Citibank has chosen 90 day treasury bills since it provides better accuracy on local rates. Also, resetting the rates every quarter, makes sure that, the rates are in line with market reality. RBI slaps Rs 3 cr penalty on Axis Bank The Reserve Bank of India imposed penalty of Rs 3 crore on private lender Axis Bank for non-compliance of income recognition and asset classification (IRAC) norms. The regulator said it found discrepancies in the lenders assessment of non-performing assets which warranted a monetary penalty. RBI to conduct additional repo operations to provide liquidity support to banks Reserve Bank of India (RBI) announced that it will conduct additional repo operations during March 2018 to provide additional liquidity support to banks. Repo operation are undertaken by RBI to provide liquidity to banks which helps in overcoming temporary liquidity mismatches. In the current scenario, wherein the liquidity has tightened in the banking system owning credit growth outpacing deposit growth, additional repo operations appear to be a viable way out. Thus, RBI will provide additional liquidity support to banks by undertaking additional repo operations for longer tenors up to 31 days, on every Tuesday of March 2018 for Rs 25000 crore each. These operations will thereby infuse liquidity aggregating Rs 1 lakh crore in to the banking system by the end of March 2018. Sports Afghanistan’s Rashid Khan becomes youngest International Cricket Captain Afghanistan’s Rashid Khan achieved a massive feat when he became the youngest top- ranked player as per ICC Rankings. Rashid joined JaspritBumrah as the top-ranked player in ODI rankings at the conclusion of the series against South Africa. The World’s No. 2 ODI bowler Rashid led Afghanistan, after regular skipperAsgharStanikzai was diagnosed with appendicitis. Italian football club captain Astori dies in his sleep at 31 Fiorentina captain and Italy international Davide Astori passed away at the age of 31 during his sleep on Sunday, his club has confirmed. The defender failed to wake up in his hotel room ahead of Fiorentina’s away match against Udinese. Astori had been capped 14 times by Italy and had scored once at the international level. Awards & Honours Oscars 2018: The Shape of Water bags Best Picture Award Category Winner Best Picture The Shape of Water Best Documentary Icarus Best Foreign Language Film A Fantastic Woman (Chile) in Spanish Best Supporting Actress Allison Janney, I, Tonya Best Animated Short Dear Basketball Best Animated Film Coco Best Editing Dunkirk Best Documentary Short Heaven Is A Traffic Jam On The 405 Best Live Action Short The Silent Child Best Director Guillermo Del Toro, The Shape Of Water Best Actor Gary Oldman, Darkest Hour Best Actress Frances McDormand, Three Billboards Outside Ebbing, Missouri Best Original Score The Shape of Water – Alexandre Desplat Best supporting actor Sam Rockwell, Three Billboards Outside Ebbing, Missouri Appointments & Resignations Conrad Sangma set to become next Meghalaya CM National People’s Party (NPP) President Conrad Sangma will be the new chief minister of Meghalaya. He will replace Mukul Sangma. Merkel becomes fourth term as German Chancellor Germany’s Angela Merkel has secured her fourth term as the Chancellor after the Social Democratic party voted in favor of a grand coalition with Merkel’s Christian Democratic Union. Efforts to form a coalition failed last year after the Free Democratic and Green party pulled out of negotiations. The Parliament will formally elect Merkel as the Chancellor on March 14. Books & Authors Aamir Khan launches Manjeet Hirani’s book ‘How to be a Human’ Aamir Khan launched the book ‘How to be a Human’, which is penned by Rajkumar Hirani’s wife Manjeet Hiraniwas. The book is based on the dog which the Hirani’s adopted from ‘PK’ sets. In her book, Manjeet has written about attachment, parenting, and karma, among other things. She shows how having a dog in the house can alter your perspective and change the way you experience life. Dr Jitendra Singh attended the social media launch of “Namaste Shalom” The Union Minister of State (Independent Charge) of the Ministry of Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh launched the social media of “Namaste Shalom”, a magazine devoted to India-Israel relations. The magazine is edited by former MP Shri Tarun Vijay. Israeli Ambassador to India, Mr. Daniel Carmon and other dignitaries were also present. Obituaries Noted Disability rights activist Javed Abidi passes away India’s global face of disability rights movement, Javed Abidi, died of chest infection at the age of 53.
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