Current affairs 7 March 2018

Daily Current Affairs 7 March 2018 For general knowledge and competition entrance exams like ssc bank ibps sbi railway...

Daily Current affairs 7 March 2018

Detail Current Affairs 7 March 2018

Ministry to introduce new bio-fuel policy soon: Minister of Petroleum & Natural Gas

Minister of Petroleum & Natural Gas Dharmendra Pradhan ministry will soon introduce a new bio-fuel policy 2018 and cabinet will give nod for its implementation.  Inaugurating a two-day bilateral conference on advanced bio-fuels jointly organized by European Union and India in New Delhi today, he said, in the policy-making, generation of 2G ethanol from non-sugar resource will be the key factor.  The government is committed towards green energy and has stressed on Govardhan Yojna, for generation of Bio-CNG, in this year's budget. The country will witness a new economy of waste to wealth worth one lakh crore in coming years. He will give incentives to the companies which are converting agri-waste into energy in the NCR- Region. The conference aims at facilitating the deployment of advanced renewable fuels in the European Union and India and providing a common platform to technology developers, industry representatives and investors in value chains producing low carbon fuels for the decarbonization of transport in European countries and India.

BlackBerry sues Facebook for stealing its messaging ideas

BlackBerry sued Facebook, alleging that WhatsApp and Instagram have infringed upon its intellectual property by copying features from its patent-protected BBM service. It accused Facebook of stealing functionalities such as innovative security and user interface were stolen from its Messenger service. BlackBerry had sold its rights over the brand phones to a Chinese firm in 2016.  It alleges that Facebook, created mobile messaging applications that co-opt BlackBerry’s innovations, using a number of the innovative security, user interface, and functionality enhancing features that made BlackBerry’s products such a critical and commercial success in the first place. “BlackBerry’s suit sadly reflects the current state of its messaging business. Having abandoned its efforts to innovate, BlackBerry is now looking to tax the innovation of others.

Iraq Becomes Indias Biggest Oil Supplier

Iraq becomes India’s biggest crude oil supplier by overtaking Saudi Arabia with a wide margin in this current financial year. Iraq supplied 38.9 million tonnes (MT) of oil, which was more than 20% of country’s oil needs. India is 80% dependent on imports to meet its oil needs.

 

European Development Bank Approves India's Membership

India is all set to become the 69th member of the European Bank for Reconstruction and Development (EBRD) after shareholders of the international financial institution gave their nod to the country’s candidature.  The formal membership process will now get underway, which includes the purchase of shares by India at an estimated cost of around 1 million euros. The EBRD’s Board of Governors, which represents all the existing shareholders of the UK-based bank, voted in favor of India’s membership application.

Forbes Billionaires List 2018: Amazon's Bezos Richest, Mukesh Ambani Ranked 19

With a fortune worth $110 billion, Amazon founder Jeff Bezos is the world's richest man and tops a 2018 Forbes Magazine list of billionaires. According to the Forbes, Bezos is the first person to top $100 billion as number one on the Forbes list of the World's Billionaires. Microsoft founder Bill Gates is second ($90 billion), investment guru Warren Buffet third ($84 billion), Bernard Arnault and family fourth ($72 billion), and Facebook founder-CEO Mark Zuckerberg fifth ($71 billion). Indian industry titan Mukesh Ambani, the chairman of Reliance Industries Limited, is 19th on the list. He's valued at $40.1 billion.

Neiphiu Rio appointed as Nagaland Chief Minister

Nagaland Governor PB Acharya appointed Neiphiu Rio as the new Chief Minister of the state.   Mr. Rio will replace TR Zeliang. The Governor has received letters of support in favor of Rio from MLAs of BJP, JD (U) and an Independent besides NDPP legislators. Mr. Rio will take the oath of his duties shortly. The Governor also requested Mr. Rio to prove his majority on the floor of the House on or before 16th of March.

RBI Slaps Penalty On Axis Bank And Indian Overseas Bank

The Reserve Bank of India (RBI) imposed a penalty of Rs 3 crore on private sector Axis Bank for violation of Non-Performing Asset (NPA) classification norms, and Rs 2 crore on state-run Indian Overseas Bank (IOB) for not complying with the Know Your Customer (KYC) regulations. A statutory inspection of Axis Bank, with reference to its financial position, revealed "violations of various regulations issued by RBI in the assessment of NPAs", or bad loans.

Animal Welfare Board of India headquarters shifted from Chennai to Ballabhgarh

The Government shifted headquarters of Animal Welfare Board of India (AWBI) to Ballabhgarh in Faridabad District of Haryana from Chennai, Tamil Nadu. It was shifted after consultation with AWBI for better coordination between the Environment Ministry and AWBI for carrying out the animal welfare act. The Rule 3 of the Animal Welfare Board (Administrative) Rules, 1962 mentions that the headquarter of AWBI shall be at New Delhi or at such other places. AWBI is a statutory advisory body established in 1962 under Section 4 of The Prevention of Cruelty to Animals Act, 1960. It frames a range of rules on how animals ought to be humanely treated everywhere. It has also frequently litigated to have stricter laws.

India's 1st Helicopter Taxi Service Launched In Bengaluru

India's first helicopter taxi service was launched in Bengaluru to fly passengers from Kempegowda International Airport to Electronic City. The service is expected to reduce the time taken to cover the distance from 2 hours to 15 minutes. The helicopter will seat up to six people apart from the pilot and the service will cost Rs3,500 plus GST.

 

MS Dhoni Becomes Brand Ambassador Of Gaming Platform Dream 11

Mahendra Singh Dhoni, become a brand ambassador of gaming platform Dream11. The former India Test skipper had led the country to a famous triumph in the inaugural World T20 Championship in 2007. He would be the new face of the gaming platform's multi-channel marketing campaigns and brand engagement activities. Currently, the gaming platform has a user base of 2 crore sports fans playing "fantasy cricket, football, kabaddi, and NBA".

 

Short Current Affairs

International Current Affairs

1. Mukesh Ambani richest Indian, Jeff Bezos tops Forbes world’s rich list


Mukesh Ambani’s net worth has soared to $40.1 billion, making him the richest Indian for the 11th year in a row, while Amazon founder Jeff Bezos toppled Bill Gates as the world’s wealthiest person, says Forbes.

• According to Forbes’ 2018 ‘World’s Billionaires’ list, Reliance Industries chairman Mukesh Ambani’s wealth surged a whopping 72.84% to $40.1 billion— highest among the 119 Indian billionaires on the list.

2. India to join multilateral lender EBRD


India has got the go-ahead to join the European Bank of Reconstruction and Development (EBRD), after shareholders of the London-based multilateral lender agreed to the country becoming its 69th member, enabling Indian companies to undertake joint investments in regions in which the EBRD operates.

• The European Bank for Reconstruction and Development is an international financial institution founded in 1991.
• Its headquarters is in London, United Kingdom

3. Marshall Islands to be first to issue own sovereign cryptocurrency


Marshall Islands which is located in Pacific Ocean is going to become first country in world to recognize crypto currency as its legal tender and adopt transparent crypto.

• The parliament of island has passed law to create the digital currency called “Sovereign” with symbol SOV.
• The Marshall Islands is partnering with Israeli fintech startup Neema to launch its SOV.

4. Sri Lanka declares state of emergency amid violence


 Sri Lanka declared an island-wide state of emergency to curb growing anti-Muslim violence in the country’s Central Province.

• The emergency will lapse in two weeks unless the parliament votes to extend it. The emergency allows government to deploy the army in case of any violent clashes.

National Current Affairs

5. Bengaluru’s first 3-D map to harness solar energy


For the first time in the country, researchers deployed an advanced Light Detection and Ranging (LiDAR) system on a helicopter to draw up a 3D map of Bengaluru city, to assess the potential for harnessing solar energy over each building, and provide civic agencies the data for better planning of all amenities in the state capital.

• The study, carried out by researchers at the Centre for Study of Science, Technology and Policy (CSTEP).

Important Appointments 

6. Neiphiu Rio to be new Nagaland CM, swearing-in on March 8: source


 Senior NDPP leader Neiphiu Rio was appointed as the new Chief Minister of Nagaland by Governor P.B. Acharya and would be sworn in Kohima on March 8, a Raj Bhavan source said.

• The Governor said he had received Letters of Support in Mr. Rio’s favour from 12 legislators of the BJP, one letter from the JD(U) and another from an Independent MLA, besides the 18 legislatures of the NDPP.

Sports Current Affairs

7. MS Dhoni Becomes Brand Ambassador of Gaming Platform


 India's 2011 World Cup-winning skipper, Mahendra Singh Dhoni, has become a brand ambassador of gaming platform Dream11.

• The former India Test skipper, who had led the country to a famous triumph in the inaugural World T20 Championship in 2007, would be the new face of the gaming platform's multi-channel marketing campaigns and brand engagement activities.
• Currently the gaming platform has an user base of 2 crore sports fans playing "fantasy cricket, football, kabaddi and NBA", according to the release.

Deaths

8. Veteran actress Shammi passes away at the age of 89


Veteran Bollywood and television actress Shammi has passed away.

• The star, who was popular for her comic roles, had appeared in over 200 films that included ‘Coolie No 1’, ‘Hum’, ‘Gopi Kishan’, ‘Hum Saath-Saath Hain’ over her long film career.