Online Current Affairs for 15 Mar, 17

15 Mar, 17

IndusInd Bank to buy IL&FS Securities Services

  • Private sector lender IndusInd Bank will buy IL&FS Securities Services Ltd (ISSL), a subsidiary of Infrastructure Leasing and Financial Services (IL&FS) Ltd, in an all-cash deal.
  • IL&FS Securities Services, incorporated in July 2006, is a capital markets intermediary for professional clearing, depository and custodial services.
  • ISSL services both retail and institutional clients including over 1,000 brokers, FPIs (foreign portfolio investors) and FIIs (foreign institutional investors).
  • The bank did not reveal the value of the acquisition.
  • This acquisition brings scale to this business, complements our current product offerings and fits nicely into our strategy of creating differentiated businesses with domain expertise.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which private sector lender bank will buy IL&FS Securities Services Ltd (ISSL), a subsidiary of Infrastructure Leasing and Financial Services (IL&FS) Ltd, in an all-cash deal? 
 - IndusInd Bank. 

Upcoming Rewa solar plant to receive loan from World Bank

  • The World Bank has agreed to provide loan to develop internal transmission arrangements of the upcoming Rewa Ultra Mega Solar (RUMS) project in Madhya Pradesh.
  • It will provide 25 per cent of the loan amount under its Clean Technology Fund (CTF), where the money will be provided at an interest rate of only 0.25 per cent.
  • This would be the first solar power project of the country to receive a loan under CTF (Clean Technology Fund).
  • The installation of this solar power project would save Rs 14,000 crore for the state.
  • Besides, the project would also provide power to Delhi Metro Rail Corporation.
    World Bank
Quick Question for Bank PO/ IBPS Exams 2016-17:
The World Bank has agreed to provide loan to develop internal transmission arrangements of which upcoming  project in Madhya Pradesh? 
 - Rewa Ultra Mega Solar (RUMS). 

Hyderabad best Indian city in living standards: Mercer

  • Hyderabad for the third year in a row has emerged as the best city in terms of living standards among Indian cities, while Vienna has been ranked at the top globally in a list by consultancy firm Mercer.
  • The National Capital for the second straight year hit the lowest score among Indian cities for living standards, as per the Mercer's Quality of Living rankings 2017.
  • Both Hyderabad and Pune ranked higher for quality of living than the country's traditional business centres ;
    1. Mumbai and
    2. New Delhi,
    which have been ranked at 154 and 161, respectively, by the report.
  • New Delhi scored well on account of its;
    1. airport facility,
    2. availability of international schools and the 3. low probability of natural disasters.
    These positives were offset by a variety of negatives including ;
    1. a 'notorious' crime rate,
    2. air pollution and
    3. water availability
  • Globally, Vienna remained at the top for overall quality of living for the eighth year running, with the rest of the top-ten list mostly filled by European cities.
  • European cities in the top ten list are:
    Zurich (2)
    Munich (4),
    Dusseldorf (6),
    Frankfurt (7),
    Geneva (8),
    Copenhagen (9) and
    Basel -- a newcomer -- at 10th place.
  • The only non-European cities in the top ten are;
    Auckland (3) and
    Vancouver (5).
  • Singapore topped the city infrastructure ranking, followed by;
    Frankfurt and
    Munich
    both in 2nd place.
  • While on the other hand;
    Baghdad (230) and
    Port au Prince (231)
    ranked at the bottom for city infrastructure.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which Indian city has emerged as the best city in terms of living standards among Indian cities, in a list by consultancy firm Mercer? 
 - Hyderabad. 

Union government launches Mission Fingerling to achieve Blue Revolution

  • Recognizing the potential and possibilities in the fisheries sector, Government of India has consider a program named ‘’Mission Fingerling ’’ to unlock the country’s latent potential through an integrated approach.
  • The Blue Revolution, in its scope and reach, focuses on creating an enabling environment for an integrated and holistic development and management of fisheries for the socio economic development of the fishers and fish farmers.
  • Thrust areas have been identified for enhancing fisheries production from 10.79 mmt (2014-15) to 15 mmt in 2020-21.
    Aim of the mission
  • Greater emphasis will be on infrastructure with an equally strong focus on management and conservation of the resources through technology transfer to increase in the income of the fishers and fish farmers.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Union government launched which program to achieve Blue Revolution's potential and possibilities in the fisheries sector? 
 - Mission Fingerling. 

Reliance Commercial Finance appoints Devang Mody as CEO

# Reliance Commercial Finance, a subsidiary of Reliance Capital announced the appointment of Devang Mody as chief executive officer.
# Prior to this, Mody served as president of consumer business at Bajaj Finance.
# The consumer finance business of Bajaj Finance, under his leadership, witnessed a sharp growth to its current size spanning over 300 towns, with market leadership positions across various business lines.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Reliance Commercial Finance, a subsidiary of Reliance Capital announced the appointment of which personality on the post of chief executive officer? 
-Devang Mody

Commonwealth Day -March 13, 2017

  • Commonwealth Day is celebrated annually across the Commonwealth of Nations on the second Monday in March(March 13, 2017).
  • The objective of this day is to come together and celebrate its values and diversity.
  • The theme of 2017 is :A peace-building Commonwealth"
Quick Question for Bank PO/ IBPS Exams 2016-17:
Commonwealth Day is celebrated annually across the Commonwealth of Nations on which date? 
 - second Monday in March(March 13, 2017).

Krishi Unnati Mela begins in New Delhi

  • National Agricultural Fair "Krishi Unnati Mela 2017" is being organised during March 15-17, 2017 at IARI, PUSA New Delhi.
  • IARI is supported by Ministry of Agriculture & Farmers Welfare, Govt. of India.
  • Federation of Indian Chamber of Commerce and Industry (FICCI) is the Project Management Partner for the fair.
  • Major attraction of the mela would be digitisation in agriculture, organic farming, agribusiness models, precision farming, skill building and entrepreneurship development
  • Live demo of water use efficient technologies, recycling of waste water for agriculture and on-spot soil and water testing will also be held
  • The technical sessions on various themes are planned to educate farmers on various agricultural technologies and government schemes for agricultural development.
Quick Question for Bank PO/ IBPS Exams 2016-17:
National Agricultural Fair "Krishi Unnati Mela 2017" is being organised during March 15-17, 2017 at which venue? 
 - IARI, PUSA New Delhi. 

Footwear Design And Development Institute Bill, 2017 Introduced In The Lok Sabha

  • Commerce & Industry Minister Ms. Nirmala Sitharaman introduced the Footwear Design and Development Institute (FDDI) Bill, 2017 in the Lok Sabha.
  • The Bill intends to declare the FDDI as an Institution of National Importance (INI).
  • It further seeks to facilitate and promote;
    1. teaching,
    2. training and
    3. research
    in all disciplines relating to design and development of Footwear and leather products and to enable FDDI to emerge as Centre of Excellence meeting international standards.
  • It proposes to establish the FDDI as a body corporate, unlike the present structure wherein the institute is centrally-funded for meeting its capital expenditure.
  • The institute would consist of a Governing Council, with a Chairperson who shall be an eminent academician, scientist or industrialist from the leather sector, to be nominated by the Central Government.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Commerce & Industry Minister Ms. Nirmala Sitharaman introduced which bill in the Lok Sabha recently ? 
 - Footwear Design and Development Institute (FDDI) Bill, 2017. 

Arun Jaitley gets charge of defence ministry after Manohar Parrikar resigns

  • Finance minister Arun Jaitley was given the additional charge of the defence ministry after Manohar Parrikar resigned to take on the new role of Goa chief minister.
  • The President has directed that Arun Jaitely, cabinet minister, shall be assigned the charge of the Ministry of Defence, in addition to his existing portfolios,
  • This is the second time that Jaitley is holding the additional portfolio of Defence Ministry during the present NDA government.
  • He was incharge of the ministry earlier from May 26 to November 9 in 2014.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Who was given the additional charge of the defence ministry after Manohar Parrikar resigned to take on the new role of Goa chief minister? 
 - Arun Jaitley. 
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