3 March 2017 Current Affairs : Digital Payment literacy camps, Kerala drought, Palmyra recaptured, Virat Kohli

///3 March 2017 Current Affairs : Digital Payment literacy camps, Kerala drought, Palmyra recaptured, Virat Kohli

This Daily Current Affair Capsule is a brief collection of important news from national dailies and government releases on PIB useful for UPSC IAS, CDS, SSC CGL, NDA, etc. It covers national, international, economic, sports news.


National Important Current Affairs – 3 March 2017

■  The 29th International Yoga Festival was inaugurated by Uttarakhand Governor KK Paul in Rishikesh. Prime Minister Narendra Modi addressed the festival via video conference.

  • The week-long event, jointly organised by the AYUSH ministry and Uttarakhand Tourism Development Board, will feature classes on meditation, reiki and Indian philosophy during the festival.

■  The Assam government has decided to make Sanskrit compulsory up to Class 8 in all schools across the state.

■  Election Commission has asked Bahujan Samaj Party to send its details of contributions received in cash and deposited in party’s bank accounts. The Commission’s order came in response to a writ petition alleging deposit of huge amount in BSP’s bank account in cash within a short period after announcement of note ban on 8th of November last year.

■  The Kerala government has announced that the state is going through its worst drought in a century, resulting in an estimated loss Rs 225 crore. Calling it a “grave situation“, Kerala Revenue Minister E Chandrasekharan informed the Assembly that only 44% water remained in the state’s reservoirs. This has resulted in the damage of 30,353 hectares of agricultural land.

■  Supreme Court-appointed Special Investigating Team (SIT) on black money has so far unearthed black money to the tune of 70,000 crore rupees across the country. After a high-level meeting of SIT on black money, its Vice-Chairman Justice Arijit Pashayat said that the SIT is hopeful that the amount will rise substantially further in the coming days.

  • On the SIT’s recommendation, the Government has already declared that cash transaction beyond Rs 3 lakh is to be treated as illegal and punishable.
  • This meeting assumes significance as it was held for the first time after demonetisation undertaken by the Union government.

■  The Indian Navy has successfully conducted the maiden firing of an anti-ship missile from first of the indigenously built Kalvari class submarines, during its test firing in the Arabian Sea. With this, India joins the select group of 5 nations with a ballistic missile defence capability.

■  The Delhi Government has extended the mid-day meal scheme for girls up to class 12, reportedly making it the first state in the country to do so, the city-state government claimed. The scheme will be applicable from April.

■  Defence Metallurgical Research Laboratory (DMRL), Hyderabad, a premier research laboratory of DRDO and Jindal Stainless (Hisar) Limited (JSHL) have signed the Licensing Agreement for Transfer of Technology of High Nitrogen Steel (HNS) for armour applications.

High nitrogen steels (HNS) are a new class of high alloy martensitic, austenitic or duplex grades with up to 0.9 mass% of N in solid solution. HNS is not only tough but also has good strength. In addition to being non magnetic as well as corrosion resistant, the HNS cost is about 40% less compared to Rolled Homogenous Armour Steel (RHA).

They are applied to stainless tools and bearings, in chemical engineering and for high strength non-magnetic components. This material has potential for a number of defence and civil applications like armouring, mine trawls, oil industries etc.

■  The Andhra Pradesh government is planning to launch an airline, named after the state’s capital Amaravathi. It is aimed at bringing global exposure to the upcoming city and boost the state’s aviation sector.


International Current Affairs Capsule – 3 March 2017

■  Vietnam is allowing its locals to gamble in casinos for the first time in a three-year pilot plan starting March aimed at increasing tax revenues. Earlier only foreigners could gamble in Vietnam, while Vietnamese went abroad to gamble, spending approximately $800 million (over Rs 5,340 crore) on gambling annually.

■  In another blow to the ISIS, Syrian troops backed by Russian jets completed the recapture of the historic city of Palmyra. The IS militants retreated to areas in the east and Government forces conducted combing operations to clear mines.

  • During Syria’s six-year civil war, the oasis city has traded hands several times and become a symbol of IS’s wanton destruction of priceless cultural heritage in areas under its control.

■  China is going to build its first national underwater observatory in the disputed South China Sea.

  • Such a platform will reportedly allow the country to keep a check on underwater physical, chemical, and geological dynamics in real time.
  • Note : South China Sea has been a disputed territory with China claiming almost all of the waters.

■  Pakistan’s Amjad Hussain B Sial has assumed the charge as the Secretary-General of the South Asian Association for Regional Cooperation (SAARC).


Economics Today’s Current Affair Capsule – 3 March 2017

■  HDFC Bank, ICICI Bank and Axis Bank have started charging a minimum of ₹150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

  • The banks will charge ₹5 per thousand rupees or ₹150, whichever is higher, after the free transactions.

■  The government has notified a law that makes the possession of more than 10 scrapped notes by individuals a criminal offence.

  • Having over 25 pieces of old notes for research purposes will also be considered a criminal offence.
  • The law prohibits the holding, transferring or receiving of ₹500 and ₹1,000 notes from December 31, 2016, and imposes fines on offenders.

■  The Reserve Bank of India has asked bank-operated Financial Literacy Centers (FLCs) and rural branches to organize special camps starting from April 1 to educate public about digital payments through Unified Payments Interface, UPI and Unstructured Supplementary Service Data-based,USSD, “*99#” service code platforms. These camps will be conducted for one year.

S. Deepak has been appointed as country’s permanent representative to World Trade Organization (WTO). 


Sports News Current Affair Capsule – 3 March 2017

■  Indian grandmaster Harika Dronavalli has won a Bronze medal at the 2017 Women’s World Chess Championship in Tehran.

■  The Tokyo 2020 Olympic and Paralympic venues will have Gender-neutral public restrooms. At least one universal-use toilet has been planned for seven of the 11 venues the metropolitan government is building from scratch.

■  Virat Kohli has been named Polly Umrigar India’s best international cricketer of the year by the BCCI, making him the first player to win the top honour 3 times.


“Current Affairs Questions for UPSC IAS Prelims”

Q1. Which of the following is the oldest stock exchange of Asia, which opened its initial public offering (IPO) in January?

  1. Bombay Stock Exchange
  2. Shenzhen Stock Exchange
  3. National Stock Exchange
  4. Tokyo Stock Exchange

Q2. Even after demonetization, Growth in which of the following sectors helped maintain the growth momentum in the third quarter of the fiscal?

  1. Agriculture
  2. Manufacturing
  3. Mining
  4. All the above

Q3. What is Amnesty International ?

  1. an agency of the United Nations to help refugees of civil wars
  2. a global Human Rights Movement
  3. a non-governmental voluntary organization to help very poor people
  4. an inter-governmental agency to cater to medical emergencies in war-ravaged regions


Answer these questions in the comments below. This is our contribution towards making students more aware of what to study and what to ignore in daily news to be in touch with the important and relevant happenings of the World. Have a Good Day!

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