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  • W.B.C.S Current Affairs 23 February 2019 to 01 March 2019.
    Posted on March 22nd, 2019 in Weekly Current Affairs
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    W.B.C.S Current Affairs 23 February 2019 to 01 March 2019.

    1) The World Bank-ILO report titled Exports to Jobs: Boosting the Gains from Trade in South Asia has been released. The report studies the effect on local employment and wages of changes in exports by combining disaggregated data from household-level or worker-level surveys with trade data from India and Sri Lanka. Key Observations made in the Report: Increasing exports together with leading to better jobs and higher wages in India will generate more formal sector employment for youth and women. Increasing exports would boost average wages and the biggest beneficiaries of this wage gain would be the high-skilled, urban, more experienced, and mainly male workers. For low-skilled workers, there would be an increase in formal jobs. Exports can improve the performance of local labour markets. Hence labour market policies must aid different groups of workers to acquire the right skills and ensure that the gains of increased exports are shared more broadly across society. India and Boosting Exports: India’s growth rate of 7.2 per cent in 2017 reduced the number of people living in poverty. Even then, most Indians doesn’t have regular jobs in the formal economy and differences in wages across regions and in the quality of employment opportunities prevail. India’s trade has been reduced from 55.8 per cent in 2012 to 41.1 per cent of the Gross Domestic Product between in 2017. Indian exports which are mainly capital intensive like chemicals and fabricated metals reduces the direct benefits to workers. The report notes that India can ensure that greater export orientation can boost workers’ gains from trade and spread them more widely, so benefiting disadvantaged groups. The report also concludes that more exports can create benefits for workers by raising wages and reducing informality and this requires stronger policies to ensure these benefits reach everyone in the labour market and don’t leave any groups behind.Continue Reading W.B.C.S Current Affairs 23 February 2019 to 01 March 2019.

    2) The Union Cabinet headed by Prime Minister Narendra Modi has approved the Rs1,450 crore for the share capital of Reserve Bank of India in the National Housing Bank (NHB). The authorized capital of NHB stood at Rs 2000 crore of which Rs 1450 crore was subscribed by RBl. Transfer of Ownership from RBI to Government: The Finance Bill 2018 amended the National Housing Bank Act, 1987 to transfer RBI’s stake in the NHB to the government. The amendment was in accordance with the recommendations of the Narasimhan Committee. The committee had recommended the transfer of RBI’s stake in State Bank of India, NABARD and NHB to the government to differentiate the central bank’s role as the owner of banks and the sector regulator. Now the ownership of the NHB would be vested with the central government. This change in ownership will strengthen funding support to housing finance companies. The transfer of ownership together with segregating RBI’s role as a banking regulator and as the owner of NHB will aid in strengthening the housing finance scenario in the country. National Housing Bank (NHB): National Housing Bank (NHB) was established under the act of parliament viz. the National Housing Bank Act, 1987 based on the recommendations of the Rangarajan committee. NHB was set up as the apex institution for housing finance and operates as a principal agency to promote housing finance institutions both at local and regional levels. NHB provides provide financial and other support to such housing finance institutions.

    3) The Union Tribal Affairs Minister Jual Oram launched the revised MSP for MFP for the welfare of Tribals at the National Workshop organized by TRIFED under Ministry of Tribal Affairs. MSP for MFP: Minimum Support Price Scheme (MSP) for Minor Forest Produce (MFP) is a centrally-sponsored scheme aimed to ensure fair and remunerative price to MFP gatherers. The scheme is officially known as ‘Mechanism for marketing of Minor Forest Produce (MFP) through Minimum Support Price (MSP) and development of value chain for MFP’ was planned as a social safety initiative for MFP gatherers. The MSP for MFP scheme was first launched in 2013 but the severe gaps in its implementation led to the programme remaining dormant. To revitalize the programme the revised guidelines have been issued. The revised guidelines: Provide for a revised MSP in the range of 30-40% on average. The procurement of these MFPs will commence in haat bazars, where tribals bring their produce with the facilitation provided by state government agencies and district collectors. Lay down a decentralised implementation framework. The implementing agency TRIFED has asked the states to submit within 45 days their roadmap for procurement and marketing of produce from the village level to the state level. For the value addition of MFPs, better marketing opportunities under the Van Dhan Scheme was launched last year. The Tribal Affairs Ministry is now planning to scale up this scheme to all tribal districts. The Ministry has asked the state government to prepare and share plan to set up the Van Dhan centres meant to value add to forest produce to boost the market for products made from MFPs.

    4) The Reserve Bank of India (RBI) has constituted a panel under the former deputy governor Usha Thorat to examine issues related to offshore rupee markets and recommend policy measures to ensure the stability of the external value of the domestic currency. Mandate for the Panel: The panel will study the causes behind the development of the offshore rupee market and examine the effects of the offshore markets on the rupee exchange rate and market liquidity in the domestic market. The panel will also recommend measures to address concerns, if any, arising out of offshore rupee trading besides proposing measures to generate incentives for non-residents to access the domestic market. The panel will recommend measures to generate incentives for non-residents to access the domestic market and examine the role if any, International Financial Services Centres (IFSCs) can play in addressing these concerns. The members of the Usha Thorat panel will include a nominee from the Department of Economic Affairs, nominee from the Securities and Exchange Board of India, Ajit Ranade, Chief Economist of the Aditya Birla Group, Sajjid Chinoy, Chief Economist, JPMorgan, Surendra Rosha, CEO, India, HSBC, Adviser-in-charge, Department of Economic Policy and Research, RBI, and Chief General Manager, Financial Markets Regulation Department, RBI.

    5) Reserve Bank of India (RBI) and Bank of Japan have signed a bilateral swap agreement. The agreement was negotiated during the visit of Prime Minister Narendra Modi to Tokyo last year. Bilateral Swap Agreement: The Swap agreement will provide India access to 75 billion US dollars against the 50 billion dollars under earlier BSA. Under the agreement, India can access 75 billion dollars for its domestic currency, for the purpose of maintaining an appropriate level of balance of payments or short-term liquidity at its discretion. Currently, India has a comfortable level of foreign exchange. The bilateral swap agreement will provide India to access the reserves if at any point of time when the need arises. Benefits of the Swap Agreement: The currency swap makes it easier to improve liquidity conditions. Currency swap agreements help in saving for a rainy day when the economy is not looking in good shape. The swap agreements also contribute towards stabilising the country’s balance of payments (BoP) position. The agreement aids in improving confidence in the Indian market. How does the Swap Agreement work? As part of the agreement, the Bank of Japan (Japanese central bank) will accept rupees and give dollars to the Reserve Bank of India (RBI). Similarly, RBI will take the yen and give dollars to the Bank of Japan to stabilize each other’s currency. Since the Japanese Yen is one of the five currencies included in the IMF’s SDR basket and is counted as global hard currency, the central part of the agreement boils down to Japanese commitment to exchange US Dollar for rupee from India.

    6) The growth rate eight core sectors which include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity witnessed a decline as per the data from the Ministry of Commerce and Industries. Reduced growth rate of Core Sector: The core sector which had witnessed a 6.2% growth in January 2018 witnessed a growth rate of 1.8 % in January. The decline in the output of crude oil, refinery products and electricity pulled down the growth of eight core sectors to 1.8 %. The declining trend which has been witnessed since October 2018 suggests continued weakness in industrial activities and a weak second half economic growth in the financial year 2018-19. Production of crude oil, refinery products and electricity contracted 4.3%, 2.6% and 0.4%, respectively. Coal and cement output slowed to 1.7% and 11% in January as against 3.8% and 19.6% in January 2018, respectively. Natural gas, fertilisers and steel output grew 6.2%, 10.5% and 8.2 % respectively. Higher fertiliser growth has been attributed to the negative base effect last year. Sluggish core sector growth would impact the Index of Industrial Production (IIP) as these segments account for about 41 per cent of the total industry output.

    7) Border Security Force (BSF) and Border Guards Bangladesh (BGB) concluded a three-day Mainamati Maitree Exercise 2019 as a part of confidence-building measures between the two border guards. Mainamati Maitree Exercise 2019: The exercise was named after Mainamati hill range situated 8 km west of Comilla Township in Bangladesh, which is home to an ancient Buddhist archaeological site in the region. The exercise was held in areas near Srimantapur in Sipahijala district, bordering Comilla district of- The objective of Mainamati Maitree Exercise 2019 was to plan and conduct anti-smuggling and anti-criminal activity related operations with an aim to achieve better joint operational efficiency and border management in the area. The exercise involved joint patrolling, anti-smuggling drills, simulated raids on suspected places in both the countries and checking of goods and identity at international check posts. After the Standoff between the Border Security Force (BSF) and Border Guards Bangladesh (BGB) around 31 Rohingya people who were found crossing the international border into Bangladesh in January, series of joint exercises and exchanges are being held in the Tripura-Bangla frontier as part of the confidence-building measure.

    8) Minister Narendra Modi conferred Shanti Swarup Bhatnagar Prizes for the years 2016, 2017 and 2018 in New Delhi. Addressing the gathering the Prime Minister asked the scientific community to take advantage of the Fourth Industrial Revolution and develop technologies that will make India a global hub for manufacturing, knowledge and technology-based industries. Eleven scientists including Dr Rishikesh Narayan of Indian Institute of Science, Bengaluru and Dr Amalendu Krishna of Tata Institute of Fundamental Research, Mumbai were awarded the Shanti Swarup Bhatnagar Prize for 2016. Ten scientists including Dr Deepak Gaur of Jawaharlal Nehru University, Delhi and Dr S Suresh Babu of Vikram Sarabhai Space Centre were given the Shanti Swarup Bhatnagar Prize for 2017. thirteen scientists including Dr Amit Kumar of IIT, Delhi and Dr Nitin Saxena, IIT, Kanpur were awarded Shanti Swarup Bhatnagar Prize for 2018. Shanti Swarup Bhatnagar Prize: Shanti Swarup Bhatnagar Prize for Science and Technology was instituted in the year 1957, in the memory of late Dr (Sir) Shanti Swarup Bhatnagar, the founder director of the Council of Scientific and Industrial Research(CSIR). It is the most coveted national recognition bestowed upon young scientists and engineers to honour their research and developmental work in India. The prize is awarded each year on the National Science Day by the by the Council of Scientific and Industrial Research (CSIR) for conspicuously important and outstanding contributions to human knowledge and progress, made through work done primarily in India during the five years. Prize comprising of a citation, a cash award of Five Lakh rupees and a plaque is given to the research in the following disciplines viz. Biological Sciences, Chemical Sciences, Medical Sciences, Physical Sciences, Mathematical Sciences, Engineering Sciences and Earth, Atmosphere, Ocean and Planetary Science. Any citizen of India engaged in research in any field of science and technology up to the age of 45 years is eligible to be nominated.

    9) The Union Human Resource Minister Prakash Javadekar launched the STARS scheme on National Science Day (28th February). STAR Scheme: STARS is an acronym for Scheme for Translational and Advanced Research in Science to fund Science projects. The scheme will be implemented at the cost of Rs 250 crores. Under the scheme 500 science projects will be funded whose selection will be made based on competition. IISC will be the coordinator of the scheme. National Science Day: 28th February: The National Science Day is celebrated on 28th February every year in the memory of Indian physicist and a Nobel laureate Sir C.V. Raman. The National Day of Science is celebrated on 28th February to commemorate the discovery of Raman Effect for which he was awarded Nobel Prize in the year 1930. The theme of the 2019 National Science Day is Science for people and people for science. Raman Effect: Raman Effect refers to the inelastic scattering of a photon by molecules which are excited to higher vibrational or rotational energy levels. Part of the light beam after passing through transparent medium gets scattered and the wavelength of these scattered rays is different from that of the incident rays of light. This phenomenon of scattering of light is termed as Raman Scattering and the cause of scattering is called the Raman Effect.

    10) Atal Innovation Mission and software major Adobe have signed a Statement of Intent to collaborate on enhancing digital literacy and creativity skills. Under the agreement, Adobe would implement the Digital Disha Programme across 100 schools under Atal Tinkering Labs (ATL) initiative. Teachers and Children across these 100 schools would benefit from the creative learning resources via free access to Adobe Spark premium. This would empower them with new age skills to thrive in the current digital era and preparing them for long term success. Atal Tinkering Labs: Atal Tinkering Labs is the flagship initiative undertaken by NITI Aayog under the Atal Innovation Mission. Atal Tinkering Labs are aimed at inculcating the values of innovation, technology and entrepreneurship amongst India’s youngsters. Atal Tinkering Labs are dedicated works spaces where students (Class 6th to Class 12th) learn innovation skills and develop ideas that will go on to transform India. Digital Disha Programme: Ministry of Skill Development and Entrepreneurship has partnered with Adobe to launch Adobe Digital Disha Programme. Under the Adobe Digital Disha Programme, the Adobe would provide Adobe Spark application, a fun and frictionless storytelling Creative Cloud application free of charge for education and skill development.

    11) Tata Steel has been recognised as one of World’s Most Ethical Companies by the Ethisphere Institute for 2019. Ethisphere Institute is a global leader in defining and advancing the standards of ethical business practices. For the eighth time, Tata Steel has got the recognition eight times in the ‘Metals, Minerals and Mining’ category. Tata Steel is one of the only two honorees in the ‘Metals, Minerals and Mining’ industry. World’s Most Ethical Companies 2019: 128 companies are recognized for exemplifying and advancing corporate citizenship, transparency and the standards of integrity in the year 2019. The honorees are from 21 countries and 50 industries. The list includes 16 first-time honorees and eight companies that have been named to the list every year since 2007. The companies are listed World’s Most Ethical Companies based on their score in the Ethisphere’s Ethics Quotient which collects and objectively scores self-reported data in five weighted categories namely: Leadership and Reputation. Ethics Compliance Programme. Culture of Ethics. Corporate Citizenship and Responsibility. Governance. The other Indian company to find a place in the list of World’s Most Ethical Companies 2019 is Wipro.

    12) The Chief Minister of Assam Sarbananda Sonowal has announced a PRANAM Commission to look after the issues related to the Parents Responsibility and Norms for Accountability and Monitoring (PRANAM) Bill. PRANAM Bill: The bill makes it mandatory for state government employees to look after their parents and unmarried differently abled siblings who do not have their own sources of income. The bill proposes that if any complaints related to ignorance towards parents or unmarried differently abled siblings, then 10 or 15 per cent of the employee’s salary will be deducted by the government and paid to the parents or differently abled siblings. The government has said that it aims to cover the Employees of private companies and the central government working in the state at a later stage. The PRANAM Bill is an effort from the state government to protect elderly parents and unmarried differently abled siblings and give them financial security. The bill is first of its kind in the country is an effort to protect elderly parents of government employees and unmarried differently abled siblings in their times of need.

    13) The Chief Minister of Tamil Nadu K Palaniswami has unveiled MGR Centenary Arch on Kamaraj Salai of Chennai. MGR Centenary Arch: The MGR Centenary Arch has been built at an estimated cost of 2.52 crore, from the state Secretariat. The Centenary Arch 66 feet wide and 52 feet height was proposed to commemorate the birth centenary of the late chief minister MG Ramachandran. The division bench of Madras High Court had passed an interim order restraining the state government from inaugurating the arch, off the famous Marina beach, till disposal of public interest litigation petition opposing it last year. The Madras High Court had permitted the Tamil Nadu government to unveil the arch but without any ceremony. Why the Centenary Arch was challenged? It was alleged that the arch was constructed by encroaching on arterial Kamarajar Salai and its pedestrian space meant for public use was in total violation of various legislations. The Tamil Nadu Highways Act does not permit any permanent structure can be constructed either on the middle or the pathway of a road. DR M G Ramachandran: DR M G Ramachandran popularly known as M. G. R is an actor, filmmaker and politician who served as the Chief Minister of Tamil Nadu for ten years between 1977 and 1987. He has been also honoured with the Bharat Ratna.

    14) The Union Minister for Railways Piyush Goyal has announced the creation of new railway zone for Andra Pradesh, Southern Coast Railway Zone to be headquartered in Visakhapatnam. Key Facts about the Southern Coast Railway Zone: The Southern Coast Railway zone would comprise of existing Guntakal, Guntur and Vijayawada divisions that currently fall under the South Central Railway and the South Central Railway will then consist of the Hyderabad, Secunderabad and Nanded divisions. Waltair division under the East Coast Railway Zone, covering the northern districts of Andhra Pradesh, parts of Chhattisgarh and Odisha will be split into two. One part will be incorporated in the new zone and merged with the neighbouring Vijayawada division, the remaining portion will be converted into a new division, headquartered at Rayagada, under the East Coast Railway (ECoR). Political Move?: Under item 8 of Schedule 13 (Infrastructure) of the Andhra Pradesh Reorganization Act, 2014 Indian Railways was required to examine establishing a new railway zone in the successor state of Andhra Pradesh. Southern Coast Railway Zone is a step forward in this direction. The establishment is largely seen as a political move since the Railway Minister has given assent to the creation of new zone despite the internal report of the Railway Board calling it “catastrophic”. The report had said that creation of a new zone in Andhra Pradesh would be “like putting many nails in the coffin of the Indian Railways. The South Coast Railway zone would be an 18th Railway zone in the country. Currently, India has 17 zones and a total of 73 divisions.

    15) The Union Minister of Human Resources and Development Prakash Javadekar launched the Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS) programme to provide industry-specific apprenticeship opportunities to fresh graduates. SHREYAS: SHREYAS is a programme basket comprising of three initiatives of the HRD, Ministry of Skill Development and Entrepreneurship, and the Ministry of Labour and Employment. SHREYAS focussed towards students primarily from non-technical courses will introduce employable skills into their learning, promote apprenticeship as integral to education and also amalgamate employment facilitating efforts of the government into the education system. SHREYAS will provide a platform wherein educational institutions and industry would log in and provide their respective demand and supply of apprenticeship. The programme promotes apprenticeship as an important part of education and integrates the government’s employment building efforts into the education system. These apprenticeship courses will be available to them from academic year April-May, 2019. SHREYAS is a major effort in the direction to make degree students more skilled, capable, employable and aligned to the needs of our economy so that they contribute to country’s progress and also obtain gainful employment.

    16) International Court of Justice (ICJ) has advised the UK to return the Diego Garcia (Chagos Islands) to Mauritius as rapidly as possible. The ICJ has said that Britain must give Mauritius control of the Chagos Archipelago in the Indian Ocean. The advisory has been issued by the ICJ on the request of the resolution passed by the United Nations General Assembly (UNGA) to look into the issue. Observations made by ICJ: In a majority opinion the court noted that the decolonisation of Mauritius was not lawfully complete when it attained independence because Britain carved away the Chagos Archipelago from it and retained control over it. Britain is under an obligation to bring to an end its administration of the Chagos Archipelago as rapidly as possible. Why the Chagos Islands had become the bone of contention? Mauritius was the colony of erstwhile of British Empire. With the calls of decolonisation grew stronger, the British granted independence to the Island nation Mauritius. But the British cut off the Chagos Archipelago from Mauritius in 1965 before granting it independence in 1968. Also, the residents of the Chagos Archipelago were forcibly removed and the Chagos Archipelago was handed over to the US. The US established its strategic Indian Ocean military base at the Chagos Archipelago. Both the UK and the US had vehemently opposed the UN resolution which referred the matter to ICJ saying it was a bilateral matter with Mauritius. UK is not represented in the ICJ Bench and the sole dissent judgement was by the American Judge. Hence it is unlikely that the UK would accept the advisory. The possibility of any challenge to the US Diego Garcia base from Mauritius is also unlikely. Hence by and large status quo would be maintained.

    17) The Infosys Foundation has constituted Aarohan Social Innovation Awards to reward individuals, teams or NGOs developing solutions for the social sector. Aarohan Social Innovation Awards: Aarohan Social Innovation Awards are aimed at nurturing the culture of innovation in the social sector to scale positive change across the country and thereby provide a platform to help the solutions scale. The awards would be given away in six categories spanning healthcare, destitute care, rural development, women’s safety and empowerment, education and sport and sustainability. The awards are part of the Infosys Foundation’s endeavour to support individuals and non-government organisations (NGOs) acting on their good intentions towards society and help them turn their ideas into action. Those projects which are from a non-commercial venture and has a functioning prototype and not a concept, idea or mock-up would be considered for the awards. The award will also provide winners with an opportunity for residential mentorship at IIT Hyderabad up to 12 weeks at its campus to help them develop their solutions and scale them for social impact. Infosys Foundation: Infosys Foundation established in 1996 is a not-for-profit initiative of Infosys Ltd. It aims to support the underprivileged sections of society by creating opportunities for building a more equitable society. The foundation supports programs in the areas of education, rural development, healthcare, arts and culture, and destitute care.

    18) The Reserve Bank of India (RBI) has removed three banks, Dhanlaxmi Bank, Allahabad Bank and Corporation Bank from the PCA framework by moving them out of its weak-bank watchlist. Basis for the decision of RBI: The government has infused fresh capital into various banks including some of the banks currently under the PCA framework. As part of the capital infusion, Corporation Bank had received Rs 9086 cr and Allahabad Bank had received 6896 cr. Capital Infusion to both of these banks has shored up their capital funds and also increased their loan loss provision to ensure that the PCA parameters were complied with. Dhanlaxmi Bank was taken out of the PCA framework, subject to certain conditions and it would be under continuous monitoring, as the bank is found to be not breaching any of the Risk Thresholds of the PCA framework. Earlier in the year, the RBI had removed the Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC) from the PCA framework. With the removal of Allahabad Bank and Corporation Bank from the list, five PSBs which includes United Bank of India, UCO Bank, Central Bank of India, Indian Overseas Bank and Dena Bank remain under the PCA framework. PCA: Bone of Contention: The PCA framework had become a bone of contention between the government and the RBI. In India, PCA kicks in when banks breach any of the three key regulatory trigger points namely capital to risk-weighted assets ratio, net non-performing assets (NPA) and return on assets (RoA) whereas globally PCA kicks in only when banks slip on a single parameter of capital adequacy ratio. The government and independent directors of the RBI board, like S Gurumurthy, are in favour of this practice being adopted for the domestic banking sector as well.

    19) India has successfully test-fired two indigenously developed Quick Reaction Surface-to-Air missiles (QRSAM) from a test range off the Odisha coast. QRSAM was test fired from a rotatable truck-based launch unit at Chandipur in Odisha’s Balasore district. The two missiles tested for different altitude and conditions successfully demonstrated robust control, aerodynamics, propulsion, structural performance and high manoeuvring capabilities. Quick Reaction Surface-to-Air Missiles: The missile is an all-weather, all-terrain missile with electronic countermeasures against jamming by aircraft radars. QRSAM uses solid-fuel propellant and has a range of 25-30 km. QRSAM has been developed by the Defence Research and Development Organisation (DRDO) in association with Bharat Electronics Limited and Bharat Dynamics Limited as a replacement to Osa-AK and Kvadrat missile systems. This was the third test firing of QRSAM. The first test firing was done on June 4, 2017, and the second on July 14, 2018.

    20) Educationist and Author Govind Prasad Sharma has been appointed as the Chairman of National Book Trust (NBT). Govind Prasad Sharma: Govind Prasad Sharma in his long carrier has served as the Principal of Government P.G. College in Madhya Pradesh, Additional Director of Higher Education of Gwalior Chambal Division, Director of Madhya Pradesh Hindi Granth Akademi and also as Vice Chairman of Madhya Pradesh Board of Secondary Education. National Book Trust: National Book Trust (NBT) is an apex body established by the Government Of India in the Year 1957 under the Department Of Higher Education, Ministry Of Human Resource Development. Objectives of NBT: To produce and encourage the production of good literature in English, Hindi And Other Indian Languages. To make such literature available at moderate prices to the public. To bring out book catalogues. Arrange Book Fairs/Exhibitions and Seminars. Take all necessary steps to make the people book-minded. To pursue these objectives NBT publishes: The Classical Literature of India. Outstanding works of Indian authors in Indian Languages and their translation from one Indian Language to another. Translation of outstanding books from foreign languages. Outstanding Books of Modern Knowledge for Popular Diffusion. The major activities of NBT include publishing non- textbooks, organizing book fairs, book exhibitions, conducting literary events, activities for children, training in publishing throughout the country, participating in international book fairs to promote Indian literature.

    21) The Indian Council of Agricultural Research (ICAR) and Council of Scientific and Industrial Research (CSIR) have signed an MoU to collaborate in the area of food and agriculture. Memorandum of Understanding (MoU): Both ICAR and CSIR will work together on mutually agreed areas of agri-foods, medicinal and aromatic plants, nutraceuticals, precision agriculture, big data analysis, use of artificial intelligence, genetic modifications in cotton, application of sensors in agriculture, post-harvest management and agricultural mechanisation. The network of Krishi Vigyan Kendras of ICAR would be utilised for technology demonstration and dissemination. The MoU also proposes a joint working committee to deliberate and formulate the collaborative programmes and will meet four times a year. Indian Council of Agricultural Research: Indian Council of Agricultural Research (ICAR) is an autonomous organisation headquartered at New Delhi and works under the Department of Agricultural Research and Education (DARE), Ministry of Agriculture and Farmers Welfare. Earlier known as Imperial Council of Agricultural Research, it was established on 16 July 1929 as a registered society under the Societies Registration Act, 1860 in pursuance of the report of the Royal Commission on Agriculture. Indian Council of Agricultural Research is the apex body in India for coordinating, guiding and managing research and education in agriculture including horticulture, fisheries and animal sciences in the entire country. Council of Scientific and Industrial Research: Council of Scientific and Industrial Research (CSIR) is a contemporary R&D organization of the government of India and is known for its cutting edge R&D knowledgebase. CSIR was established by the Government of India in September of 1942 as an autonomous body under the Department of Science and Technology, Ministry of Science and Technology. CSIR activities cover a wide spectrum of science and technology from radio and space physics, oceanography, geophysics, chemicals, drugs, genomics, biotechnology and nanotechnology to mining, aeronautics, instrumentation, environmental engineering and information technology.

    22) Eminent Indian playwright Mahesh Elkunchwar has been chosen for META Lifetime Achievement Award 2019. The award would be conferred on March 12 during the Mahindra Theater Festival. Mahesh Elkunchwar: Mahesh Elkunchwar is regarded as one of the progressive playwrights of the country and is critically-acclaimed and widely-known for having experimented with a wide range of drama and is considered a powerful force in both Indian and Marathi theatre scene. Mahesh Elkunchwar is also a recipient of the Sangeet Natak Akademi Fellowship. He has over 30 plays and essays to his credit including works like ‘Sultan’, ‘Holi’, ‘Garbo’, ‘Yatanaghar’, and ‘Atmakatha’. META Awards: The Mahindra Excellence in Theatre Awards (META) is aimed at applauding the finest in theatre. The META awards were instituted by the Mahindra Group with the objective of becoming a significant platform for celebrating this art. META recognizes theatre’s varied elements like playwriting, set, costume and light designing, direction and performance. Over the 14 years since its inception, META has succeeded in setting a stage that represents the diverse interpretations of this art form as understood in various regions of the country.

    23) The 4th Global Digital Health Partnership Summit being held at New Delhi was inaugurated by the Union Health Minister J P Nadda in the presence of Shri Ravi Shankar Prasad Union Minister of Law & Justice and Electronics & Information Technology. The summit provides an opportunity to support governments and health system reformers in improving the health and well-being of their citizens through digital technologies. The Global Digital Health Partnership Summit is being hosted by the Ministry of Health and Family Welfare in collaboration with the World Health Organization (WHO) and the Global Digital Health Partnership (GDHP). Global Digital Health Partnership: The Global Digital Health Partnership (GDHP) is a collaboration of governments and territories, government agencies and the World Health Organization aimed at supporting the effective implementation of digital health services. The GDHP was established in February 2018 to provide an international platform for global collaboration and sharing of evidence to guide the delivery of better digital health services within participant countries. The GDHP also provides an opportunity for transformational engagement between its participants, who are striving to learn and share best practice and policy that can support their digital health systems. The secretariat services for the GDHP are provided by Australian Digital Health Agency for the initial 18 months.

    24) The Employees State Insurance Corporation (ESIC) payroll data released by the Central Statistical Office (CSO) suggests 2 crore jobs created in 16 months. The ESIC data is one of payroll numbers released by the Central Statistics Office (CSO) in its reports based on people joining various social security schemes run by Employees Provident Fund Organisation (EPFO) and Pension Fund Regulatory Development Authority (PFRDA). The data shows that: During September 2017 and December 2018, as many as 1.96 crore new subscribers joined the scheme. Employment generation in the formal sector almost trebled to touch a 16-month high of 7.16 lakh in December 2018 compared to 2.37 lakh in the year-ago month. Around 72.32 lakh new subscribers were added to social security schemes of the EPFO from September 2017 to December 2018. An estimated number of new NPS (National Pension Scheme) subscribers during the period of September 2017 to December 2018 is 9,66,381. The report gives different perspectives on the levels of employment in the formal sector and does not measure employment at a holistic level.

    25) The Swedish Health Minister Lena Hallengren after the meeting with Union Health Minister J P Nadda announced that Anti-microbial resistance (AMR) is really dangerous and India and Sweden intend to boost cooperation to tackle it. Cooperation to tackle Anti-Microbial Resistance: India and Sweden have signed a Memorandum of Understanding to cooperate in the field of various issues, including AMR, communicable diseases and public health On February 24, 2009. AMR work is an “ongoing cooperation” between India and Sweden. There would be bilateral cooperation between companies, between agencies, between universities, institutions. Sweden hoped that India would join the Alliance of Champions, which is a creation between many countries globally to face and to fight AMR. Alliance of Champions: The Alliance of Champions was launched by then Swedish Health Minister Gabriel Wikstrom at the 2015 World Health Assembly. Alliance of Champions consisted of health ministers of 14 countries aimed to promote “political awareness, engagement and leadership” on AMR.

    26) The Indian Air Force (IAF) has struck against Jaish-e-Mohammed camp in Balakot of Pakistan occupied Kashmir in the pre-dawn hours of 26th February 2019. The Mirage-2000 fighter jets were used to drop explosives on these training camps. A dozen Mirage-2000 fighter jets used to carry out the attack were escorted by four Sukhoi Su-30 aircraft. Phalcon Airborne Warning and Control System of Israel and the indigenous Netra Airborne Early Warning and Control System Aircraft (AEW&C) aircraft were deployed to monitor the mission. Highlights of the statement by the Ministry of External Affairs: A suicide terror attack was conducted by a Pakistan-based terrorist organization Jaish-e-Mohammad (JeM) lead to the martyrdom of 40 brave jawans of the CRPF. The terrorist organisation JeM has been active in Pakistan for the last two decades and is led by Masood Azhar with its headquarters in Bahawalpur. JeM has been proscribed by the UN, has been responsible for a series of terrorist attacks including on the Indian Parliament in December 2001 and the Pathankot airbase in January 2016. Even though India provided the location of training camps in Pakistan from time to time, Pakistan continued to deny their existence and Pakistan has taken no concrete actions to dismantle the infrastructure of terrorism on its soil. The existence of such massive training facilities capable of training hundreds of jihadis could not have functioned without the knowledge of Pakistan authorities. India has struck the biggest training camp of JeM in Balakot. A large number of JeM terrorists, trainers, senior commanders and groups of jihadis who were being trained for fidayeen action were eliminated. This facility at Balakot was headed by Maulana Yousuf Azhar (alias Ustad Ghouri), the brother-in-law of Masood Azhar, chief of JeM. Committed to taking all necessary measures to fight the menace of terrorism, India undertook this non-military pre-emptive action was specifically targeted at the JeM camp. India has remained Pakistan of its commitment in January 2004 not to allow its soil or territory under its control to be used for terrorism against India and has urged Pakistan to live up to its public commitment by taking the follow-up actions to dismantle all JeM and other camps and hold the terrorists accountable for the actions.

    27) The Union Minister for Water Resources, River Development, and Rejuvenation presented 82 National Water Awards in 14 categories for the year 2018. The Union Minister of State for Water Resources, River Development, and Rejuvenation Arjun Ram Meghwal expressed his happiness over National Water Awards which have been resumed after a gap of 12 years and said that this is a very big step to spread awareness about water conservation. He urged the Ministry to hold National Water Awards every year. National Water Awards: The National Water Awards were launched in the year 2007 by the Ministry of Water Resources. The objective of National Water Award is to encourage all stakeholder including the Non-Governmental Organizations (NGOs), Gram Panchayats, Urban Local Bodies, Water User Associations, Institutions, Corporate Sector, Individuals etc. for adopting innovative practices of groundwater augmentation by rainwater harvesting and artificial recharge, promoting water use efficiency, recycling & re-use of water and creating awareness through people’s participation in the targeted areas resulting into the sustainability of groundwater resources development, adequate capacity building amongst the stakeholders etc. The awards are presented in 14 categories which include: Best State Normal Category. Best State Special Category. Best District. Best Village Panchayat. Best Municipal Corporation. Best research/innovation/adaptation of new technology for water conservation. Best educative/mass awareness efforts. Best TV show for promoting water conservation. Best Newspaper. Best School. Best Institution for successful campus water usage. Best Resident Welfare Association (RWA). Organizations for Best Religious/Recreational & Tourism Water Uses and Best Industry for industrial water conservation. The National Water Awards were instituted with the objectives of encouraging the stakeholders to adopt a holistic approach towards water resources management in the country.

    28) The National Institute of Design has been inaugurated at Bhopal in Madhya Pradesh and Jorhat in Assam. The Union Minister for Commerce and Industries Suresh Prabhu inaugurated the Institutions. Establishment of National Institute of Design: Design and innovation have taken prime importance in many sectors, policies, and schemes of the government like “Make in India”, “Skill India”, “Digital India”, “Startup India”, and “Smart City initiatives”. Hence it is imperative to promote design education. National Design Policy 2007 had recommended setting up design institutes on the lines of NID, Ahmedabad in other parts of India to promote design programs. Hence National Institute of Design is being established Andhra Pradesh (Amaravati), Assam (Jorhat), Madhya Pradesh (Bhopal) and Haryana (Kurukshetra). NIDs in different regions of the country will help produce highly skilled manpower in design which, in turn, will create job opportunities, both direct and indirect, by providing sustainable design interventions for crafts, handloom, rural technology, small, medium and large-scale enterprises and outreach programs for capacity, capability and institution building. NIDs will fulfil the requirement of designers in the country and expose them to employment opportunities, which will lead the country towards higher socio-economic growth. National Institute of Design: The National Institute of Design was established based on the recommendations of the Eames Report. It was established as an autonomous all-India body in September 1961 at Ahmedabad in association with the Ford Foundation and the Sarabhai family. Over the years, the National Institute of Design has emerged as an internationally finest educational and research institutions for Industrial, Communication, Textile and IT Integrated (Experiential) Design. It works as an autonomous institution under the aegis of the Ministry of Commerce and Industry. The National Institute of Design has been declared ‘Institution of National Importance’ by the Act of Parliament, by virtue of the National Institute of Design Act 2014. The National Design Institution at Bhopal and Jorhat will provide 4-year undergraduate courses in industrial design, communication design and apparel & textile design.

    29) The Union Minister of Railways Piyush Goyal has launched Rail Drishti dashboard. It encompasses all the digitisation efforts in Indian Railways and promotes transparency and accountability. Rail Drishti Dashboard: The url of the dashboard is raildrishti.cris.org.in. The dashboard brings information from various sources on a single platform and gives access to key statistics and parameters to every citizen of the country. The dashboard can be accessed using a desktop/laptop or a mobile device such as a phone or tablet and the application is mobile optimized for ease of use of the public. The dashboard will provide every kind of information related to railways anytime, anywhere to everybody. As the saying goes sunlight is the biggest disinfectant to the system, the Rail Drishti dashboard through promoting transparency aims to empower the citizen with the information regarding the working of the Indian Railways.

    30) Union Minister for Textiles Smriti Irani inaugurated the ‘Titanwala Museum’ in Bagru that showcases the Chhipa community’s Bagru hand-block printing. Acknowledging the effort of Suraj Narayan Titanwala, who took the initiative of setting up the museum, Minister said that the museum is an example that art and culture are not dependent on the government for being nurtured or preserved. Bagru hand-block printing: Bagru printing is one of the traditional techniques of printing with natural colour followed by the chippas of Rajasthan. The Bagru hand-block printing has a history of over 1000 years. The fabric is first soaked in Fuller’s earth and then dipped into turmeric water to get a tone of yellow colour. Then the dyed fabric is stamped with the beautiful designs known as blocks. Block printing is a labour intensive process. It requires a lot of skillfulness, time and tolerance power of artisan. The wooden blocks of teak-wood are used for printing the design which is soaked in oil overnight and then washed before putting in to use. The cloth to be printed is soaked in the solution of clay and other chemicals to make the fabric soften and then dried before used for printing. Neat stamping is foremost to get the appealing prints. After printing, the cloth is left for drying in sun for final touch-up.

    31) Union Minister for Textiles Smriti Irani inaugurated the ‘Titanwala Museum’ in Bagru that showcases the Chhipa community’s Bagru hand-block printing. Acknowledging the effort of Suraj Narayan Titanwala, who took the initiative of setting up the museum, Minister said that the museum is an example that art and culture are not dependent on the government for being nurtured or preserved. Bagru hand-block printing: Bagru printing is one of the traditional techniques of printing with natural colour followed by the chippas of Rajasthan. The Bagru hand-block printing has a history of over 1000 years. The fabric is first soaked in Fuller’s earth and then dipped into turmeric water to get a tone of yellow colour. Then the dyed fabric is stamped with the beautiful designs known as blocks. Block printing is a labour intensive process. It requires a lot of skillfulness, time and tolerance power of artisan. The wooden blocks of teak-wood are used for printing the design which is soaked in oil overnight and then washed before putting in to use. The cloth to be printed is soaked in the solution of clay and other chemicals to make the fabric soften and then dried before used for printing. Neat stamping is foremost to get the appealing prints. After printing, the cloth is left for drying in sun for final touch-up.

    32) Over 150 houses, built by India under the Indian Housing Project in Sri Lanka were handed over to beneficiaries. The houses were handed over in a special ceremony at Bridwell Estate in Bogawantalawa, Hatton. The ceremony was attended by Sri Lankan Prime Minister Ranil Wickremesinghe and Indian High Commissioner to Sri Lanks Taranjit Singh Sandhu. Indian Housing Project in Sri Lanka: The Indian Housing Project is a housing reconstruction project funded by the Government of India and implemented through a Memorandum of Understanding (MoU) with the Government of Sri Lanka. The project was initiated in June 2010 and is being implemented full grant assistance from the Indian government making it one of the largest grant assistance projects ever undertaken by India overseas. India is undertaking this project through four implementing agencies which include UN-Habitat, International Federation for the Red Cross and Red Crescent Societies (IFRC) in partnership with Sri Lanka Red Cross, the National Housing Development Authority (NHDA) of the Government of Sri Lanka and Habitat for Humanity. The project is implemented using the homeowner-driven methodology. Beneficiaries selected through a transparent process on the basis of clearly defined and objective criteria will undertake the construction or repair of their houses with necessary technical assistance and support provided by the implementing agencies. Funds will be released directly by the High Commission of India into bank accounts of beneficiaries based on certification of progress of work.

    33) Union Minister for Earth Sciences, Dr Harsh Vardhan inaugurated Atal Bhavan, the new campus of Centre for Marine Living Resources and Ecology (CMLRE), at Puthuvype, Cochin, in Kerala. Centre for Marine Living Resources & Ecology: The Centre for Marine Living Resources & Ecology (CMLRE) under the Ministry of Earth Science is organizing, coordinating and promoting ocean development activities in the country which includes mapping of the living resources, preparing inventory of commercially exploitable living marine resources, their optimum utilization through ecosystem management and R&D in basic sciences on Marine Living Resources and Ecology. Mandate of CMLRE: To develop management strategies for marine living resources through Ecosystem monitoring and modelling efforts. Evolving, coordinating and implementing time targeted national /regional R&D programmes in the field of marine living resources and ecology through effective utilisation of Fishery and Oceanographic Research Vessel Sagar Sampada. Strengthening of research on marine living resources and Ecology including the establishment of a data centre for storage and dissemination of data/ information to end users. Coordinating the national programmes relating to Southern Ocean Living Resources (Antarctic marine living resources). CMLRE was established at Kochi in 1998 by upgrading the erstwhile Sagar Sampada Cell with exclusive facilities for implementing the Marine Living Resources Programme. Marine Living Resources Programme envisages survey, assessment and exploitation of the marine living resources and studies on the response of marine resources to changes in the physical environment. The studies are undertaken with an objective of developing an ecosystem model for the management of the living resources in the Indian EEZ. The Fishery Oceanographic Vessel Sagar Sampada is fully utilized for these studies.

    34) Union Minister for Chemicals and Fertilizers D V Sadananda Gowda inaugurated the centre of the Central Institute of Plastic Engineering and Technology (CIPET) in Tripura. The CIPET in Tripura would produce 1500 skilled workers per annum. Central Institute of Plastic Engineering and Technology: The Central Institute of Plastics Engineering & Technology (CIPET) was established in 1968 with the assistance of United Nations Development Programme (UNDP) at Chennai. The institute was set up to develop manpower in different disciplines of Plastics Engineering & Technology as no such institute existed in the country. Functions of CIPET: CIPET renders Technology Support Service in the areas of design, tooling, plastics processing and testing and quality assurance in India and abroad. CIPET is at the forefront of strengthening the technological capabilities and has been constantly building capacities and leveraging its expertise, calibre and skill sets to meet the emerging and evolving needs of the industries. CIPET works in close liaison with industries to implement its initiatives in the areas of Polymer and allied industries in accordance with the environmental policies of the country. CIPET is working under the Ministry of Chemicals & Fertilizers and is focused on Skill Development, Technology Support Services, Academic and Research (STAR). CIPET is headquartered at Chennai and has centres at Ahmedabad, Amritsar, Aurangabad, Agartala, Baddi, Balasore, Bengaluru, Bhopal, Bhubaneswar, Chandrapur, Chennai, Dehradun, Gurgaon, Guwahati, Gwalior, Hyderabad, Hajipur, Haldia, Imphal, Jaipur, Kochi, Lucknow, Madurai, Murthal, Mysore, Raipur, Ranchi, Valsad and Vijayawada.

    35) A major fire has broken out in the Bandipur Tiger Reserve and National Park in Chamarajanagar District of Karnataka. Hundreds of acres of forest area have been destroyed in the fire and the fire has even spread to the core area. Due to the fire at the core area, huge damage and loss to the wildlife are expected. The strong winds are further causing a hindrance in controlling the fire. Bandipur Tiger Reserve and National Park: Bandipur Tiger Reserve and National Park spread over an area of about 874.2 sq km is situated in the Chamarajanagar District of Karnataka. The National Park forms part of Nilgiri Biosphere Reserve. Originally the Maharaja of Mysore created a sanctuary of 90 km2 (35 sq mi) in 1931 and named it the Venugopala Wildlife Park. Later in the year 1973 Came into existence with an addition of nearly 800 km2 (310 sq mi) to the Venugopala Wildlife Park. The Bandipur National Park is surrounded by the river Kabini in the north, River Moyar in the south and the River Nugu runs through the park. The Gopalaswamy Betta which is a Hindu pilgrimage centre and it also forms part of the National Park. the park has a variety of biomes including dry deciduous forests, moist deciduous forests and shrublands.

    36) Malnutrition is one of the biggest challenges for India. Time and again various national and international surveys underline the quantum of the challenge before India. Some of the important facts about malnutrition in India are listed below: UNICEF report notes that nearly one in three people in India have at least one form of malnutrition and this will increase to one in two by 2025 going by current trends. According to National Family Health Survey (NFHS)-4, 2015-16, one in every five Indians (both genders) is too thin with a BMI of less than 18.5, while every fourth male and second female is anaemic. The NFHS-4 highlighted that one in three women consume dark green leafy vegetables, chicken/meat/fish/eggs only once a week while one in two women do not consume fruits even once a week. The NFHS report also noted that one in five women however, consume aerated drinks weekly, one in 10 women consume fried food daily. Only one in 10 children aged 6-23 months receive an adequate diet. The Global Nutrition Report stated that India is facing a major malnutrition crisis as it holds almost a third of the world’s burden for stunting. The Global Nutrition report highlighted that 46.6 million children in India are stunted and India tops the list, followed by Nigeria (13.9 million) and Pakistan (10.7 million). The Global Nutrition report also noted that India also accounted for 25.5 million children who are wasted, followed by Nigeria (3.4 million) and Indonesia (3.3 million). Together with various governmental interventions, it is necessary to bring behavioural change to eradicate malnutrition from India. This necessitates educating the families about the need for nutrition.

    37) Afghanistan has launched a new export route to India through the through the Chabahar Port of Iran. 23 trucks carrying 57 tonnes of dried fruits, textiles, carpets and mineral products were dispatched from western Afghan city of Zaranj to Iran’s Chabahar port. The consignment would be then shipped to Mumbai. Chabahar port is seen as a testimony of healthy cooperation between India, Iran and Afghanistan this will ensure economic growth. The Chabahar Port of Iran provides easy access to the sea for Afghanistan. India has invested in the development of this route as well as Chabahar port. This route allows both India and Afghanistan to engage in trade bypassing Pakistan. India-Afghanistan Trade: Afghan exports to India stood at $740 million in 2018 and India is the largest export destination for Afghanistan. The new route is one of the many initiatives undertaken by the governments of India and Afghanistan to enhance trade relations. To boost the trade relations, both India and Afghanistan had established an air corridor in the year 2017. The opening of new avenues for Afghanistan to trade with India will aid Afghanistan in to reduce its trade deficit. After the withdrawal from JCPOA and reimposing of sanctions on Iran, US had granted an exception for the development of Chabahar port since the new transportation corridor could contribute significantly for Afghanistan’s economy and meet their needs of non-sanctionable goods such as food and medicines.

    38) US President Donald Trump has announced the nomination of Kelly Knight Craft as the new US ambassador to the UN. The post of the US ambassador to the UN was vacant due to the resignation of Nikki Haley. Kelly Knight Craft is currently serving as the US ambassador to Canada. The appointment would be formalised after the approval by the US Senate. Functions of the US ambassador to the UN: Representing the United States on the U.N. Security Council and during almost all plenary meetings of the General Assembly. Keep the U.S. State Department informed of events at the United Nations. Making recommendations to the State Department and the president as to what course of action the United States should pursue. The US ambassador to the UN currently holds the Cabinet-level position. Reports suggest that role will probably be downgraded from the Cabinet-level position. Kelly Knight Craft: Kelly Knight Craft who is currently serving as ambassador to Canada was the first woman to ever hold the post. Previously she had served as an alternate delegate to the UN during President George W Bush’s reign where her focuses included Africa.

    39) Deloitte has announced the launch of its global initiative ‘WorldClass’ in India for the empowerment of women. The initiative was launched by Deloitte’s Global CEO, Punit Renjen in the presence of Dharmendra Pradhan, Minister of Petroleum and Natural Gas and Skill Development and Entrepreneurship. WorldClass Initiative: In India, the initiative aims to support 10 million girls and women by 2030 through education and skills development.To attain the objectives of WorldClass Initiative, Deloitte will align with organisations such as Katha and Pratham in India. WorldClass programme in India will focus on improving girls retention rate in school, higher educational outcomes, and skills development for women to access employment. The initiative aims to give a boost to women education since almost 40 per cent of girls aged 15-18 years drop out of school and college, and only 26 per cent of women are employed. Through the WorldClass Initiative in India Deloitte aims to fuel India’s growth story by aiding India to encash its demographic dividend. Globally, the WorldClass initiative seeks to prepare 50 million people by 2030, to be better equipped for the future of work, in-line with the United Nations’ Sustainable Development Goals (SDGs).

    40) The Karnataka High Court has quashed the order of Enforcement Directorate (ED) which froze the bank accounts of Greenpeace India. The court noted that the validity of the ED order has lost its efficacy on account of efflux of time as the period of 60 days has expired. The accounts of the Greenpeace India were frozen on the account of the alleged violations of the Foreign Exchange Management Act (FEMA). The freezing of accounts had led to a financial crisis for the organisation and forced it to reduce its workforce substantially. Why the accounts were frozen? The Enforcement Directorate had alleged that Greenpeace India had incorporated Direct Dialogue Initiatives India Pvt Ltd (DDIIPL) in 2016 after the Central government had cancelled Greenpeace India’s Foreign Contribution Regulation Act licence in September 2015 for allegedly violating norms. The ED argues that DDIIPL was created to facilitate the operational activities of Greenpeace. ED also alleged that DDIIPL spent around Rs 21 crore for its expenses since it was set up, “with no substantial revenue generation so far”. Greenpeace India had strongly objected to the ED claims and had stated they would provide the government authorities with required financial details as they do not have anything to hide. Alleging the claims of ED as false and frivolous, Greenpeace India had said that false claims and accusations were part of a larger design to muzzle democratic dissent in the country and had challenged the order of ED in the Karnataka High Court. Greenpeace India: Greenpeace India is the Indian arm of the international NGO Greenpeace. The NGO mainly works in the area of environmental conservation. Greenpeace through non-violent, creative confrontation aims to expose environmental problems and to force the solutions which are essential to a green and peaceful future.

    41) The think tank Niti Ayog had hosted the conference on Future of Indian Banking and role of technology Tomorrow in association with the Foundation for Economic Growth and Welfare (EGROW Foundation). The conference was inaugurated by Dr Rajiv Kumar, Vice Chairman, NITI Aayog. The speakers in the event included Rajiv Kumar, Secretary, Department of Financial Services, Dr K.V. Subramanian, Chief Economic Advisor, Dr Andreas Bauer, Senior Resident Representative, IMF, Dr Marius Vismantas, Lead Financial Sector Specialist, World Bank, Shri Sunil Mehta, Managing Director, Punjab National Bank. About the Conference: The conference was aimed at increasing and elevating the discourse on the banking sector in India and help in developing insights to inform the continued evolution of the Indian banking sector for optimally supporting the growing credit needs of the Indian economy. Research papers were presented on the following themes: Evaluating critical banking situation in the country, considering domestic and international developments. Recapitalization of Public Sector Banks, Insolvency and Bankruptcy Code. The future course of Prompt Corrective Action and recovery. Alternatives to Basel Norms, if any. Privatization, Mergers and Acquisitions, etc. The event witnessed the participation of more than 200 domestic and international participants, including policy makers, academicians, researchers, professionals, and students from various banks, universities and institutes. EGROW Foundation: The Foundation for Economic growth and Welfare (EGROW Foundation) is a non-profit, multi-disciplinary public policy organisation engaged in independent, high-quality research in the areas of macroeconomic policy, public welfare, national security and diplomacy. The foundation aims to contribute to the formation of sound public policies, especially in India by providing research-based support to policymaking.

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