Daily GK Updates - 2nd March, 2018

NATIONAL UPDATES

1. NFRA establishment approved: Union Cabinet has approved the establishment of National Financial Reporting Authority (NFRA). NFRA will act as an independent regulator for the auditing profession which was one of the key changes brought in by the Companies Act 2013. The Cabinet also gave nod to the Fugitive Economic Offenders Bill – 2018 to deal with those escaping overseas to avoid getting caught.

2. Rs. 2900 Crores under Nirbhaya fund approved for women safety: Women and Child Development Ministry has approved projects worth over Rs 2,900 crores under the Nirbhaya fund for eight major cities to make them safer for women. These cities are Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad and Lucknow.

3. Cabinet Approves Anti-Trafficking Bill Draft: The Union Cabinet okayed the draft Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill. National Investigation Agency (NIA) will be the nodal authority for probing cases of human trafficking. It also proposes a punishment of life imprisonment for repeat offenders.

4. Vinay Kumar appointed as ambassador to Afghanistan: Senior diplomat Vinay Kumar has been appointed as India’s ambassador to Afghanistan, succeeding incumbent Manpreet Vohra. Mr. Kumar, a 1992 batch Indian Foreign Service officer, is currently serving as Joint Secretary in the headquarters of the External Affairs Ministry here.

5. CMFRI launches e-com portal and a mobile app for fishermen: Central Marine Fisheries Research Institute (CMFRI) has come up with a solution to help fishermen fetch better price for their catch without depending on middlemen. The institute has developed a multi-vendor e-commerce website and mobile app to help fish farmers and fishermen sell their catch directly to customers online. The website, www.marinefishsales.com, and mobile app, marinefishsales, were developed under National Innovation under Climate Resilient Agriculture (NICRA) project of the CMFRI.

6. Hetero Healthcare launches HIV treatment drug in India: Hetero Healthcare Ltd. said it had launched generic anti-retroviral fixed-dose combination of ‘Emtricitabine & Tenofovir Alafenamide in India. The medication is indicated in combination with other anti-retroviral agents for the treatment of HIV-1 infection in adults and pediatric patients 12 years of age & older. The product will be marketed and distributed under the brand name ‘TAFERO-EM’.

7. Phirangipuram to be the third all-women rail station in the country: An all-women railway station is launched at Phirangipuram, Guntur, Andhra Pradesh. The railway station on the Guntur-Narsaraopet line would be handed over to an all-women crew. It will be third-of-its-kind railway station in the country after Jaipur’s Gandhi Nagar and Mumbai’s Matunga.

INTERNATIONAL UPDATES

1. President of Vietnam on a three day visit: President of Vietnam, Tran Dai Quang arrived in India on a three-day visit.  Mr. Quang will first visit Bodh Gaya before coming to New Delhi. He will meet President Ram Nath Kovind tomorrow and also hold talks with Prime Minister Narendra Modi. External Affairs Minister Sushma Swaraj and Lok Sabha Speaker Sumitra Mahajan will also call on the visiting dignitary.  The Vietnamese President will also have an interaction with prominent Indian businessmen. The visit aims to further deepen the comprehensive strategic partnership between the two countries.

2. Office of Missing Persons launched in Sri Lanka: Sri Lanka has appointed commissioners to a special panel tasked with investigating war-era disappearances. The Office of Missing Persons was officially launched by President Maithripala Sirisena. The country’s Parliament agreed two years ago to the first steps toward reconciling its war-era past tracing about 20,000 people who went missing during 37 years of fighting.

3. India welcomes Afghanistan’s peace offer: India welcomed Afghanistan President Ashraf Ghani’s outreach to the Taliban at the Second Kabul Conference. Afghan government’s called to armed groups to cease violence and join national peace and reconciliation process that would protect the rights of all Afghans.

OTHER UPDATES

DEFENCE:

1. Anti-Tank Guided Missile Nag tested successfully: The Anti-Tank Guided Missile (ATGM) Nag was successfully flight-tested in desert conditions against two tank targets at different ranges and timings. As the developmental trials of the missile have been completed, it is now ready for induction in the Army. It is the third-generation fire-and-forget ATGM developed by the DRDO.

BANKING / FINANCE:

1. SBI hikes lending rate: The State Bank raised its lending rates by 20 basis points to 8.15%, with immediate effect, setting the tone for the industry to follow suit. This is likely to make home and car loans costlier. This is the first lending revision by the bank since April 2016 and comes a day after it massively raised the retail and bulk deposit rates.

2. IndusInd Bank And Ripple tie-up: IndusInd Bank announced its partnership with Ripple to facilitate payments into and out of India. With this affiliation, RippleNet can now provide instant access in emerging markets such as India, Brazil and China.

SPORTS:

1. Vinesh wins Silver at Asian Wrestling Championship: India's star wrestler Vinesh Phogat has settled for Silver Medal in the 50kg Freestyle competition at the Asian Wrestling Championship in Kyrgyzstan.  In the final of the event at Bishkek lost to China's Chun Lei. Another Indian, Sangeeta claimed Bronze in the 59kg division.  Along with these two medals, India's medal tally has reached four in the ongoing championships.

2. IOC restores Russia’s Olympic membership: The International Olympic Committee has restored Russia’s Olympic membership, following its suspension from the Winter Olympics at Pyeongchang in South Korea. Russia was banned from February’s Games by the IOC over state-sponsored doping. Before closing ceremony of Winter Olympics, the IOC had stated that the ban would be lifted, as long as there were no more anti-doping violations.