Current Affairs Update – 30th March, 2016

Hello and welcome to ExamPundit. Here are the important Current Affairs of 30 March, 2016. These are very important for the upcoming NABARD Assistant Manager exam.

Current Affairs at a Glance – 30th March, 2016
  1. Union Minister for Minority Affairs Najma Heptulla on 29 March 2016 launched innovative entrepreneurship and skill development programme of Maulana Azad National Academy for Skills (MANAS) through leading national and international experts in different skill sets.
  2. Tata Motors today signed a memorandum of understanding (MoU) with the Maharashtra Ex-Servicemen Corporation or MESCO, for creation of employment opportunities for ex-servicemen of Indian Army.
  3. The Reserve Bank of India (RBI) on Wednesday allowed all companies engaged in the infrastructure sector to raise external commercial borrowings with a minimum maturity of five years, including those non-banking finance companies (NBFC) regulated by the central bank.
  4. Markets regulator, the Securities and Exchange Board of India (SEBI) on 29 March 2016 decided to increase the Foreign Portfolio Investors (FPI) investment limit in Central Government securities. This will boost inflows of foreign funds into Indian capital markets.
  5. The Reserve Bank of India (RBI) on 29 March 2016 signed a Special Currency Swap Agreement with the Central Bank of Sri Lanka.
  6. State-run power equipment maker BHEL has commissioned first 250 Mw unit at coal-based Nabinagar thermal power plant of Bhartiya Rail Bijlee Company Ltd in Aurangabad district of Bihar.
  7. The Reserve Bank of India (RBI) on 29 March 2016 cancelled the certificate of registration of the 22 Non-Banking Financial Companies (NBFCs).
  8. The Government of India and the World Bank today signed a US$1.5 billion loan agreement for the Swachh Bharat Mission (SBM) Support Operation Project to support the Government of India in its efforts to ensure that all citizens in the rural areas have access to improved sanitation with a focus on changing behaviour and eliminating the practice of open defecation by 2019.
  9. Indian Space Research Organization (ISRO) is set to launch a record number of 22 satellites in a single mission in May 2016. The launch vehicle will inject 22 satellites into orbit, a first in the history of the organisation. Polar Satellite Launch Vehicle, PSLV C34 will carry India’s remote sensing satellite Cartosat 2C along with 21 other satellites to be injected into the orbit.
  10. India will establish the first Indian chair in the Arab world at Egypt’s prestigious Ain Shams University (ASU) here.
  11. The Chief Minister of Haryana Manohar Lal Khattar on 29 March 2016 launched Project Salamati in Chandigarh. The project seeks to maintain a healthy balance between the births of children by using injectable contraceptive.
  12. Htin Kyaw sworn in as Myanmar President
  13. Country’s third largest software services firm Wipro today said it has roped in financial and business strategist Patrick Dupuis as an independent Board member.
  14. Market regulator Sebi today approved appointment of Mrugank Paranjape as MD & CEO of the Multi Commodity Exchange of India (MCX).
  15. Renowned playback singer P. Susheela Mohan in the last week of March 2016 entered the Guinness Book of Records for singing 17695 songs in 12 Indian languages.
  16. China on 30 March 2016 launched its 22nd satellite for its BeiDou Navigation Satellite System (BDS).



Finance/Banking/Economy –

Union Government launched Innovative Entrepreneurship & Skill Development Programme of MANAS


  • Union Minister for Minority Affairs Najma Heptulla on 29 March 2016 launched innovative entrepreneurship and skill development programme of Maulana Azad National Academy for Skills (MANAS) through leading national and international experts in different skill sets.
  • The innovative Scheme proposes to use leading celebrities who belong to Minority communities in various skill sets as the driving force behind the skill development projects in their respective fields.
  • It is for the benefit of marginalised sections of minority communities.
  • It was established under the aegis of Ministry of Minority Affairs (MOMA) by National Minorities Development and Finance Corporation (NMDFC) on 11 November, 2014 to fulfil the vision of Skill India and also achieve the over-riding goal of the Union Government SabkaSaath – SabkaVikas.

Tata Motors signs pact with Maharashtra ex-servicemen body


  • Tata Motors today signed a memorandum of understanding (MoU) with the Maharashtra Ex-Servicemen Corporation or MESCO), for creation of employment opportunities for ex-servicemen of Indian Army. This is in response to Tata Motors solution for the Defence Ministry's prestigious $10 billion combat vehicle programme.
  • As one of the indigenisation partners for the development of Tata Motors FICV (Future Infantry Combat Vehicle), the MoU was signed at the ongoing DefExpo 2016 in Goa.
  • MESCO, a Maharashtra government undertaking, of the Mahasainik Industrial Estate (MSIE), is India's first unique ex-servicemen industrial estate set-up in Pune in 2002, for the establishment and resettlement of ex-servicemen, with the moto of 'Service with Discipline'.
  • Tata Motors recently also signed a strategic agreement with Bharat Forge Limited (BFL) and General Dynamics Land Systems (GDLS) of the US, for the Defence Ministry's prestigious Future Infantry Combat Vehicle (FICV) program.

RBI liberalises ECB norms for infrastructure space


  • The Reserve Bank of India (RBI) on Wednesday allowed all companies engaged in the infrastructure sector to raise external commercial borrowings with a minimum maturity of five years, including those non-banking finance companies (NBFC) regulated by the central bank.
  • The borrowings have to be fully hedged, the central bank clarified in a notification on its website. The individual limit of borrowing under the automatic route is currently at $750 million.
  • RBI expanded the scope of ECB in view of prevailing external funding sources, "particularly for long-term lending and the critical needs of infrastructure sector of the country."
  • Expanding the scope of the definition of infrastructure, RBI said exploration, mining and refinery sectors will also be deemed as in the infrastructure sector, and can access ECB as applicable to infrastructure sector.

SEBI hiked FPI investment limit for government debt


  • Markets regulator, the Securities and Exchange Board of India (SEBI) on 29 March 2016 decided to increase the Foreign Portfolio Investors (FPI) investment limit in Central Government securities. This will boost inflows of foreign funds into Indian capital markets.
  • The limit was increased to 140000 crore rupees from 135400 crore rupees and will be effective from 4 April 2016. It will be further increased to 144000 crore rupees from 5 July 2016.
  • There will be a separate limit for investment by all FPIs in the state development loans.
  • The limit for long term FPIs (Sovereign Wealth Funds, Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks) in the Central Government securities will be enhanced to 50000 crore rupees from 4 April 2016 and 56000 crore rupees on 5 July 2016. Currently, the existing limit is 44100 crore rupees for long term FPIs.
  • The limit for investment by all FPIs in State Development Loans (SDL) was enhanced to 10500 crore rupees on 4 April 2016 and 14000 crore rupees on 5 July 2016 respectively from the existing limit of 7000 crore rupees. 

RBI signed Special Currency Swap Agreement with the Central Bank of Sri Lanka


  • The Reserve Bank of India (RBI) on 29 March 2016 signed a Special Currency Swap Agreement with the Central Bank of Sri Lanka.
  • Under the arrangement, the Central Bank of Sri Lanka can draw up to 700 million US dollars for a maximum period of three months. This special arrangement is in addition to the existing Framework on Currency Swap Arrangement for the SAARC Member Countries.
  • The proposal to extend the additional currency swap facility of 700 million US dollars to Sri Lanka for a limited period was decided with concurrence of the Union Government in March 2016 for short-term liquidity management in the context of India’s strong bilateral relations and economic ties with Sri Lanka.

BHEL commissions 250 Mw unit at Nabinagar plant in Bihar


  • State-run power equipment maker BHEL has commissioned first 250 Mw unit at coal-based Nabinagar thermal power plant of Bhartiya Rail Bijlee Company Ltd in Aurangabad district of Bihar.
  • "The 250 MW unit has been commissioned at the upcoming, greenfield 1,000 Mw Nabinagar Thermal Power Project (4x250 MW), being set up by Bhartiya Rail Bijlee Company Ltd (BRBCL), a joint venture of NTPC Limited and the Indian Railways," BHEL said in a statement on Wednesday.
  • Execution of the other three units is also in progress, it added.
  • BHEL has a long-standing partnership with NTPC and has supplied over 30,000 Mw of the coal-based power plants of NTPC and its JVs that account for around 80 per cent of NTPC's coal-based installed capacity.

RBI cancelled Certificate of Registration of 22 NBFCs


  • The Reserve Bank of India (RBI) on 29 March 2016 cancelled the certificate of registration of the 22 Non-Banking Financial Companies (NBFCs).
  • RBI cancelled their certificates of registration by exercising the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
The NBFCs whose certificate of registration were cancelled include

  1. Kundan Leasing and Finvest Private Limited
  2. Amazan Capital Limited
  3. Vuma Maheswara Finvest Limited
  4. Nawalsons Holdings Private Limited
  5. Raseera Investments Private Limited
  6. Surin Investments Private Limited
  7. M3 Investment Managers Private Limited
  8. Mascot Commerce Pvt. Ltd.
  9. Integrity Trading Company Private Limited
  10. Limtex Impex Private Limited
  11. Shyamashree Foods Pvt. Ltd.
  12. Vrindavan Services Private Ltd.
  13. Nirankar Investments Private Limited
  14. Dignity Motors Finance Limited
  15. Credence Securities Private Limited
  16. International Steel Industries Limited (Formerly Chitalia Infotech (I) Ltd.)
  17. Trepechy Textile Limited (Formerly Trepechy Finance Limited)
  18. Akansha Consultancy Services Limited
  19. Sierra Investments Limited
  20. Priyam Commercial Enterprises Private Limited
  21. Bini Commercial Enterprises Private Limited
  22. RR Securities Limited
Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

India –

India, World Bank sign USD 1.5 billion loan pact for Swachh Bharat Mission


  • The Government of India and the World Bank today signed a US$1.5 billion loan agreement for the Swachh Bharat Mission (SBM) Support Operation Project to support the Government of India in its efforts to ensure that all citizens in the rural areas have access to improved sanitation with a focus on changing behaviour and eliminating the practice of open defecation by 2019.
  • The loan agreement for the project was signed by Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Onno Ruhl, World Bank Country Director, India on behalf of the World Bank.
  • Specifically, this project will support the rural component, known as SBM – Gramin (SBM-G), over a five-year period using a new performance-based program which links funds directly to results, ensuring that benefits are delivered to the people in need – more than 60 percent of India’s population that resides in rural areas.

ISRO to launch 22 satellites in single mission


  • Indian Space Research Organization (ISRO) is set to launch a record number of 22 satellites in a single mission in May 2016.
  • The launch vehicle will inject 22 satellites into orbit, a first in the history of the organisation.
  • Polar Satellite Launch Vehicle, PSLV C34 will carry India’s remote sensing satellite Cartosat 2C along with 21 other satellites to be injected into the orbit.
  • The 21 satellites to be launched will include four micro-satellites weighing 85 to 130 kg each and 17 nano-satellites weighing 4 to 30 kg. 18 of these satellites are being launched for foreign agencies including the United States, Canada, Germany and Indonesia. Two of the nano-satellites have been developed by the Pune Engineering College and Sathyabama University, Chennai.
The four micro-satellites to be launched are:

  • Maritime Monitoring and Messaging Microsatellite (M3MSAT)
  • LAPAN A3
  • BIROS
  • SKYSAT Gen2-1

ICCR to set up first Indian Chair in Arab world at Cairo


  • India will establish the first Indian chair in the Arab world at Egypt’s prestigious Ain Shams University (ASU) here.
  • An MoU in this regard was signed on Wednesday between India’s Ambassador to Egypt Sanjay Bhattacharyya on behalf of Indian Council for Cultural Relations (ICCR) and and Prof. Abdel Wahab Ezzat, Acting President of ASU.
  • Under the terms of agreement, ICCR, in consultation with ASU, will appoint an Indian academician to hold the Chair.
  • Taking note of the technological advancements in India and the growing demand in Egypt, the first visiting Indian Professor will be in the Faculty of Information and Communication Technology.
  • Founded in 1950, ASU is the third largest Egyptian university.

Haryana launched Projecet Salamati for injectable contraceptive


  • The Chief Minister of Haryana Manohar Lal Khattar on 29 March 2016 launched Project Salamati in Chandigarh. The project seeks to maintain a healthy balance between the births of children by using injectable contraceptive.
  • With this launch, Haryana became the first State in the country to launch injectable contraceptive as part of a government initiative.
  • It is a public sector family planning programme implemented by the Haryana Health Department with the assistance of Pathfinder International and the Bill & Melinda Gates Foundation.
  • Under this initiative, injectable contraceptive will be provided free of cost at all Primary Health Centres, Community Health Centres, Sub Divisional and District Hospitals.

IIT-Patna organised First International Symposium on 5G


  • The Indian Institute of Technology Patna (IIT-P) organised the First International Symposium on Fifth Generation (5G) technology. The symposium commenced on 29 March 2016 and will conclude on 31 March 2016 in Patna.
  • The Patna 5G Summit is co-sponsored by IEEE Communications Society, Center for TeleInfrastruktur, Aalborg University (CTIF), Global ICT Standardization Forum for India (GISFI) and IEEE Kolkata Section.
  • The aim of the symposium is to bring academia, industry, government organizations etc. to participate and share their research intuition and views over the possible 5G technologies, standardization aspects, heterogeneous networks, architectural designs, wireless techniques and new hardware designs.

Appointments –

Htin Kyaw sworn in as Myanmar President


  • Htin Kyaw, a confidante of Nobel laureate Aung San Suu Kyi, was sworn in Wednesday as Myanmar’s President, ushering in the first democratically elected government into office after decades of military rule.
  • The 70-year-old Htin Kyaw took the oath of office in a joint session of Myanmar’s newly elected Parliament with his two Vice- Presidents at his side, as Ms. Suu Kyi sat watched from the front row.

Wipro appoints PayPal executive Patrick Dupuis to Board


  • Country’s third largest software services firm Wipro today said it has roped in financial and business strategist Patrick Dupuis as an independent Board member.
  • With effect from April 1, 2016, Dupuis will serve as an Independent Director on the Board and brings with him a rich experience of over 30 years, Wipro said in a statement.
  • He is currently Senior Vice President for Simplicity, Quality and Productivity at Global technology platform and payments leader, PayPal Holdings, Inc, it added.

Rakesh Mohan joined Nestle India Board as Independent Non—Executive Director


  • Nestle India Ltd. on 28 March 2016 announced that former RBI Deputy Governor Rakesh Mohan joined the Board of the company as an Independent Non—Executive Director.
  • His appointment will be effective from 1 May 2016. For Rakesh Mohan, this is the second stint at the company.

Sebi approves Mrugank Paranjape as MCX managing director


  • Market regulator Sebi today approved appointment of Mrugank Paranjape as MD & CEO of the Multi Commodity Exchange of India (MCX).
  • According to posting by MCX to BSE, this appointment is for a period of three years from the date of joining.
  • Sebi has also granted extension of the terms of Dinesh Kumar Mehrotra, G. Anantharaman and Satyananda Mishra as Public Interest Director (PID) on the board of MCX.
  • As a result their terms will end in July, October and November respectively. Mishra is chairman of the board.

Awards & Honors –

P Susheela entered Guinness World Records for recording highest number of songs in several languages


  • Renowned playback singer P. Susheela Mohan in the last week of March 2016 entered the Guinness Book of Records for singing 17695 songs in 12 Indian languages.
  • On the other hand, Asia Book of Records also officially recognised Susheela for singing most number of songs in Indian languages.
  • While the Guinness Book of Records officially credited her for singing 17695 songs (solo, duet and chorus backed songs) in twelve Indian languages, Asia Book of Records recognised her for singing 17330 songs.

World –

China launched 22nd BeiDou navigation satellite


  • China on 30 March 2016 launched its 22nd satellite for its BeiDou Navigation Satellite System (BDS). The satellite was launched aboard a Long March-3A carrier rocket from the Xichang Satellite Launch Center in the southwestern province of Sichuan.
  • The BeiDou system will be completed in 2020 and will comprise over 30 satellites.
  • It was the 225th launch of the Long March carrier rocket.
  • BeiDou currently provides navigation services within China and the neighboring regions. After entering its designated work orbit and finishing in-orbit testing, it will join others available in the orbit.

Obituaries –

Renowned American author Jim Harrison died


  • Fiction writer, poet and essayist, Jim Harrison passed away on 26 March 2016 due to cardiac arrest in Patagonia, Arizona, United States. He was 78.
  • Harrison is best known for his 1979 novella Legends of the Fall. He was called a force of nature, and his works were compared to that of William Faulkner and Ernest Hemingway.





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