Current Affairs Update - 7 March, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs Update of 7 March, 2017. These are important for the upcoming SBI PO Mains, NIACL Assistant Mains as well as other insurance and bank exams.


Current Affairs at a Glance - 7 March, 2017 - Tap to show
  1. IDFC Bank has become the first bank to launch the biometric-based payment system Aadhaar Pay through its network.  The bank aims to onboard anywhere between 50,000-75,000 merchant to the Aadhaar pay module in the next two years with a total target of touching 1,00,000 merchants over the next 36 months or three years.
  2. The Union Cabinet on 6 March 2017 gave its ex-post facto approval for signing of a Memorandum of Understanding (MoU) on Renewable Energy between India and Portugal.
  3. The Union Cabinet, presided by Prime Minister Narendra Modi, on 6 March 2017 approved the signing of Memorandum of Understanding (MoU) between India and the United Nations Entity of Gender Equality and the Empowerment of Women (UN-Women).
  4. Prime Minister Narendra Modi on 7 March 2017 released a special commemorative postage stamp on 100 years of Yogoda Satsang Math.
  5. Delhi International Airport (P) Ltd, a GMR led consortium, has announced Indira Gandhi International Airport has become the world’s number 2 airport in the over 40 million passengers per annum category, as per the Montreal (Canada)-based Airports Council International 2016 rankings.
  6. The book titled The Rise of Sivagami: Book 1 of Baahubali - Before the Beginning was released on 7 March 2017. The book will be available to readers beginning on 15 March 2017.
  7. K Srinath Reddy, a Padma Bhushan awardee was appointed as the adviser to the Odisha government on 6 March 2017.




Financial and Banking News:

IDFC launches Aadhaar Pay, becomes the first to launch biometric based payment system


  • IDFC Bank has become the first bank to launch the biometric-based payment system Aadhaar Pay through its network.
  • The bank aims to onboard anywhere between 50,000-75,000 merchant to the Aadhaar pay module in the next two years with a total target of touching 1,00,000 merchants over the next 36 months or three years.
  • Rajiv Lall, founder MD and CEO, of IDFC Bank said Aadhaar Pay makes cashless transactions possible even for those who do not have mobile phones, and only requires the merchant to have a mobile phone. "All one needs is to get the bank account number linked with Aadhaar. Basic banking services will come to those who even do not have basic mobile phones," he said.
  • Lall, however, did not disclose the total number of investment that the bank will put in place to get the infrastructure ready. IDFC Bank will bear the cost of the biometric device which can be attached to the smartphones and will be provided to the merchants. The device currently costs around Rs 2,500 and the total cost of the device for 1,00,000 merchants will come to around Rs 25 crore only. "The returns for the banks will also be in terms of new customer additions through the merchants who will adopt Aadhaar Pay," said Lall.

India, Portugal MoU on renewable energy approved


  • The Union Cabinet on 6 March 2017 gave its ex-post facto approval for signing of a Memorandum of Understanding (MoU) on Renewable Energy between India and Portugal.
  • The approval was given at a meeting of the Cabinet chaired by the Prime Minister Narendra Modi in New Delhi.
  • The MoU establishes the basis for a cooperative institutional relationship to encourage and promote technical bilateral cooperation on new and renewable issues.
  • The future partnership will be strengthened on the basis of mutual benefit, equality and reciprocity.

Non-financial news related to India and states:

Union Cabinet approves MoU between India and UN-Women


  • The Union Cabinet, presided by Prime Minister Narendra Modi, on 6 March 2017 approved the signing of Memorandum of Understanding (MoU) between India and the United Nations Entity of Gender Equality and the Empowerment of Women (UN-Women).
  • The MoU seeks to provide technical support to the Ministry of Panchayati Raj in strengthening capacities of governance institutions including Panchayati Raj Institutions(PRIs) to better leverage opportunities created for gender equality through legislation, policies and programmes.
  • It is interesting to note that the decision has come just a couple of days before the International Women's Day 2017.

National Conference on Jal Kranti Abhiyan organised in Delhi


  • The Ministry of Water Resources, River Development and Ganga Rejuvenation organised a national conference on Jal Kranti Abhiyan on 7 March 2017 in New Delhi.
  • The conference was inaugurated by Uma Bharti, the Union Minister for Water Resources, River Development and Ganga Rejuvenation. Also in attendance were Sanjeev Kumar Baliyan and Vijay Goel, the Union ministers of state for Water Resources, River Development and Ganga Rejuvenation.
  • The day-long conference saw around 700 participants, representing various stakeholder groups such as officials, farmers, students, NGOs and panchayat members.

PM Narendra Modi releases commemorative postage stamp on 100 years of Yogoda Satsang Math


  • Prime Minister Narendra Modi on 7 March 2017 released a special commemorative postage stamp on 100 years of Yogoda Satsang Math.
  • The Yogoda Satsang Math are the headquarters of Yogoda Satsanga Society of India (YSS). Its major aim is to reveal the complete harmony, basic oneness and common foundations of all true religions.
  • Yogoda Satsanga Society of India is a non-profit religious organization.
  • It was founded by Paramahansa Yogananda in 1917.
  • The society is known as the Self-Realization Fellowship in countries outside the Indian subcontinent.
  • Paramahansa Yogananda is renowned for his book titled Autobiography of a Yogi. The book is an international bestseller.

Reports:

GMR-led Delhi Airport ranked No. 2 position in passenger survey


  • Delhi International Airport (P) Ltd, a GMR led consortium, has announced Indira Gandhi International Airport has become the world’s number 2 airport in the over 40 million passengers per annum category, as per the Montreal (Canada)-based Airports Council International 2016 rankings.
  • DIAL’s score increased from 4.96 in 2015 to 4.99 in 2016 that helped IGIA scale over several other airports and attain the second position globally, only after Incheon, South Korea.
  • Delhi Airport has joined the club of international airports handling over 40 MPPA.
  • The ASQ awards are presented to those airports whose customers have rated them the highest over the course of the year. The awards will be presented in Port Luis, Mauritius, October 2017.
  • Delhi Airport is served by 11 domestic and 51 foreign carriers with average of 1124 flight movements a day. DIAL is a consortium comprising of GMR Group, Airports Authority of India and Fraport.

Books & Authors:

The Rise of Sivagami: Book 1 of Baahubali - Before the Beginning by Anand Neelakanthan


  • The book titled The Rise of Sivagami: Book 1 of Baahubali - Before the Beginning was released on 7 March 2017. The book will be available to readers beginning on 15 March 2017.
  • The book was written by the noted author Anand Neelakanthan.
  • The plot of the book is considered as the prequel to the acclaimed movie Baahubali: The Beginning, which was released in July 2015.
  • As per the author, it is a tale of intrigue, power, revenge and betrayal. The revelations in The Rise of Sivagami will grip the reader and not let go.

Appointments:

K Srinath Reddy appointed as adviser to the Odisha Government


  • K Srinath Reddy, a Padma Bhushan awardee was appointed as the adviser to the Odisha government on 6 March 2017. The announcement was made by Odisha’s Chief Minister Naveen Patnaik himself.
  • Reddy has been roped in to advise the state government on proper implementation and smooth delivery of the state’s ongoing health service programmes.
  • A communiqué from the chief minister’s office stated that Reddy would be accorded with the rank of a Cabinet minister along with other facilities.

Sports News:

Pablo Cuevas wins 2017 Brasil Open


  • Uruguay’s Pablo Cuevas on 6 March 2017 defeated Albert Ramos-Vinolas of Spain 6-7 (3), 6-4, 6-4 to win Brasil Open Men’s Singles title.
  • It is the third straight Brasil Open title for Cuevas.
  • In the rain-delayed clay-court tournament, Cuevas finally wrapped up the title on 6 March 2017 with a victory against Albert Ramos-Vinolas of Spain. Ramos-Vinolas had won the first set on 5 March 2017; however, the second set was stopped by rain at 3-3 and deuce with Ramos Vinolas serving. Once the game resumed, Cuevas, the world No 33, quickly took control, winning the second set 6-4 and then taking the third by the same score against the Spaniard.

Due to some unavoidable reasons, EP cannot provide the PDF today. However, it will be updated soon.






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