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National – Across the India:
1. The Indian Navy’s Annual Theatre Readiness Operational Exercise (TROPEX) 2017 is being conducted off the Western Seaboard.
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It will see participation of ships and aircraft of both the Western and Eastern Naval Command and also assets from the Indian Air Force, Indian Army and the Indian Coast Guard.
It seeks to strengthen inter-operability and joint operations in a complex environment.
The assets of Indian Navy will operate alongside SU-30 MKI, Jaguars, AWACS, IL-78 Flight Refueling Aircraft of the Indian Air Force and Infantry units of the Indian Army.
2. In order to boost the trade, International Cargo Services were launched today at Biju Patnaik International Airport.
The launch of cargo services will cater the exporters to reach and tap markets in Middle East, Far East and European countries where the demand for seafood, agriculture, and handloom is more.
A hall meant for international cargo services has been specially reserved by Airport Authority of India (AAI), beside the domestic cargo terminal.
3. India is ranked at the sixth spot in a list of Eight Great Powers for the year 2017 by a leading American foreign policy magazine.
The list is topped by the US, whereas China and Japan are at tie for being on the second spot.
Russia (fourth) and Germany (fifth) are the other two countries ahead of India.
Iran is ranked seventh and Israel is on the eighth spot.
4. The Union Ministry of Youth Affairs and Sports has reconstituted TOP committee with objective of identifying and supporting potential medal prospects for 2020 and 2024 Olympic Games under Target Olympic Podium (TOP) scheme.
The committee will select elite athletes to provided financial assistance for their customized training at Institutes having world class facilities and other necessary support.
The 10 -member committee will be headed by Beijing Olympic Gold Medalist Abhinav Bindra.
5. State-owned refiner Hindustan Petroleum and gas utility GAIL India Ltd signed a pact with Andhra Government for setting up a Rs 40,000 crore petrochemical plant in the state.
The 50:50 joint venture will set up a 1.5 million tons Ethylene Derivatives plant, which will produce raw materials for the manufacture of detergents, paints and coatings, cosmetics, textiles and adhesives.
Andhra Pradesh government will support the project by providing infrastructure, power, roads and other clearances.
International – Across the Globe:
1. Former leader of the Austrian Green Alternative party (the Greens) Alexander Van der Bellen officially took office as the 9th Austrian President.
Former President Heinz Fischer, Chancellor Christian Kern and Vice Chancellor Reinhold Mitterlehner, diplomats, journalists and representatives of the church were present at the ceremony.
The federal president of Austria, elected by popular vote every six years, is the highest representative of the state.
Awards & Recognition:
1. Three Indian-origin persons have been awarded Australia’s highest civilian honour this year for their contributions in the field of medicine and work towards the community.
Purushottam Sawrikar, a Sydney-based medical practitioner, received Order of Australia medal for the year 2017 in General division category for his service to medicine, and to the Indian community.
Makhan Singh Khangure from Perth was given the award for his for significant service to medicine in the field of neuroradiology, to education.
Vijay Kumar was given the award for his significant service to medical research in the disciplines of nuclear medicine and biology, to professional organizations, and to the community.
Mergers & Acquisitions:
1. Ant Financial, e-commerce giant Alibaba’s financial arm, has reached an agreement to acquire American money-transfer major MoneyGram for $880 million.
The transaction will connect MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts and 350,000 physical locations with Ant Financial’s users.
The transaction will help expand Ant Financial’s business following its partnering with Paytm in India and Ascend Money in Thailand.
Appointments & Resignations:
1. President Pranab Mukherjee has appointed Dr Vijay Bhatkar, architect of India’s first supercomputer the Param series, as the chancellor of Nalanda University.
He will have term of three years from the date of his appointment as provided under Section 11(3) of the Nalanda University Act.
He shall succeed George Yeo, former Foreign Minister of Singapore, who resigned after the Board of the University was reconstituted.
2. President Pranab Mukherjee has appointed Banwarilal Purohit as the new governor of Meghalaya.
He will succeed V Shanmuganathan, former Meghalaya governor.
President Mukherjee also appointed P. B. Acharya, the Governor of Nagaland to discharge functions as the Governor of Arunachal Pradesh.
Economics & Banking GK:
1. India’s second largest private sector lender HDFC bank will deploy at least 20 humanoids in its branches in the next two years.
The bank had announced that it will soon introduce a humanoid IRA – intelligent robotic assistant to help its branch staff in servicing customers.
IRA will be positioned near the Welcome Desk, where it will greet customers and guide them to the relevant counter in the branch such as Cash Deposit, Foreign Exchange, Loans, among others in the first phase.
2. The Union Finance Ministry has announced that the General Anti Avoidance Rule (GAAR) will be effective from the 1 April, 2017.
GAAR seeks to prevent companies from routing transactions through other countries to avoid taxes.
India will be the 17th nation in the world to have laws that aim to close tax loopholes.
At present, GAAR is in force in nations like Australia, Singapore, China and the UK.
Memorandum of Understanding (MoU):
1. Private sector bank – Karnataka Bank Ltd signed MoU with the leading agricultural equipment manufacturer Tirth Agro Technology Pvt Ltd, Rajkot, to finance farmers for agri mechanization.
The MoU aims to establish platform to form a relation on co-operation between the two in identifying farmers buying agricultural implements/equipment and financing them by the bank on its terms.
Science & Technology:
1. The Indian Space Research Organization (ISRO) successfully tested indigenously developed cryogenic engine for the upper stage GSLV Mk III rocket.
The cryogenic upper stage, designated as C25, was tested for 50 seconds at ISRO Propulsion Complex (IPRC) at Mahendragiri in Tamil Nadu demonstrating all the stage operations.
It was the first test in a series of two tests. The second test is planned for flight duration of 640 seconds.
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