This Daily Current Affair Capsule is meant to be a time-saving tool for going through relevant news from national dailies and government releases on PIB. Aspirants for UPSC IAS, CDS, SSC CGL, NDA, etc. will find it highly useful to cover for revision and awareness purposes.

 

National Important Current Affairs – 7 March 2018

■ The president of the National People’s Party (NPP), Conrad Sangma, has been sworn-in as the new Chief Minister of Meghalaya. Mr Sangma was invited by the Governor Ganga Prasad to form the government after he staked a claim with the support of 34 MLAs in the 60-member Meghalaya Assembly. He is the son of former Lok Sabha Speaker late PA Sangma, and was administered the oath of office and secrecy by Governor at a function in Shillong.

Note that: His father, P A Sangma was a former Union minister and Lok Sabha speaker. He was also the Meghalaya chief minister from 1988 to 1990.

 

Nagaland Governor PB Acharya has appointed Neiphiu Rio as the Chief Minister of the state. The Governor has received letters of support in favour of Rio from MLAs of BJP, JD (U) and an Independent besides Nationalist Democratic Progressive Party(NDPP) legislators. The formation of new alliance will be under the banner of People’s Democratic Alliance (PDA).

 

■ The Odisha government has launched the free sanitary napkin scheme ‘Khushi’ for girl students from Class 6 to 12 in all the government and government-aided schools of the state. It will be implemented by the Department of Health and Family Welfare of the state at a cost of Rs 70 crore per year.

 

India’s first helicopter taxi service has been launched in Bengaluru. Helicopter taxi will fly passengers from Kempegowda International Airport to Electronic City, reducing the time taken to cover the distance from 2 hours to mere 15 minutes.

 

■ The Union government has set up a steering committee to consider various issues relating to the development and regulation of Fintech space in India with a view to make regulations more flexible and entrepreneurship friendly. The 8-member committee will be headed by Economic Affairs Secretary, Subhash Chandra Garg. It will also focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs. According to the terms and reference, the committee will also take stock of the developments in the fintech sector globally, and in India and work with Government agencies like UIDAI to explore creation and use of unique enterprise identification number.

 

■ According to a recent report by the UNICEF, India has witnessed a sharp decline in child marriages over the last ten years with only 27% of girls getting married before their 18th birthday as against 47% a decade ago.

This decline in India has contributed significantly to a global decline in child marriages, Overall, the proportion of girls who were married as children decreased by 15% in the last decade, from 1 in 4 to approximately 1 in 5.

 

International Current Affairs Capsule – 7 March 2018

■ The Sri Lankan government has declared a state of emergency in the country for 10 days following violence in Kandy district over the last two days. This decision was taken in today’s cabinet meeting, to curb heightening violence. The development follows days of anti-Muslim attacks in Kandy, located in Sri Lanka’s Central Province. The riots were triggered by the death of a 41-year-old man from the majority Sinhalese community, who was beaten up by a Muslim mob.

Sri Lanka is the second country in the region to promulgate a state of emergency this year. In Early February, Maldives had declared Emergency Rule for a fortnight, extending it later to 30 days.

 

■ London’s Metropolitan police Scotland Yard has appointed Neil Basu as the new head of counter-terrorism operations. Basu is known for his work in combating terror including the 2017 London attacks. He is the first Indian-origin officer to be appointed to such role which is believed to be the toughest in British policing.

 

■ Cyber security agencies have detected a new malware called SaposhiSaposhi is similar in its intensity to another malware called Reaper which had taken over millions of devices at the rate of 10,000 devices per day. Saposhi
takes over electronic devices and turns them into “bots” to create a network of bots called a botnet. It then uses the botnet to ping a single server at the same time, far beyond the server’s capacity in order to crash the server, denying service to its consumers. This modus operandi is known in common parlance as a Distributed Denial of Service (DDoS) attack.

 

India will join the European Bank of Reconstruction and Development (EBRD) as its 69th member, after shareholders of the London-based multilateral lender agreed to enable Indian companies to undertake joint investments in regions in which the EBRD operates.

About EBRD: It was set up in 1991, based on a proposal by former French President Francois Mitterand. The London based bank’s initial focus was helping central and Eastern European nations reconstruct their economies in the post-Cold War era. The EBRD works with the private sector and also local governments in the provision of services and infrastructure across 38 nations – with projects ranging from transport provision to agribusiness, heating, waste management, to renewable energy. In 2017, the EBRD signed a pact with the International Solar Alliance, which was unveiled in 2015 in Paris.

 

Economics Today’s Current Affair Capsule – 7 March 2018

The Reserve Bank of India would inject additional liquidity of Rs 1 lakh crore in banks by conducting additional variable rate repo operations for longer tenors to provide additional liquidity support to the banks during March 2018. The RBI will conduct four variable rate term repo auctions of Rs 25,000 crore each in March 2018, to address an additional demand for liquidity and provide flexibility to the banking system in its liquidity management. This will be in addition to normal Liquidity Adjustment Facility (LAF) operations.

The proposed injection of additional liquidity will help cap the short-term rates and also aid in lowering the rate volatilities for the rest of the month.

About Liquidity adjustment facility (LAF): Liquidity adjustment facility (LAF) is a monetary policy which allows banks borrow money through repurchase agreements

 

ONGC Videsh, the overseas arm of government-owned ONGC, has signed a cooperation agreement with Iran’s IDRO Oil to jointly bid for a $900 million development plan of the Susangerd oilfield in southwest Iran. IDRO Oil has an existing MoU with Russia’s Zarubezhneft and now combined with ONGC Videsh, they will now set up a joint working group.

The Susangerd field was discovered in 2009, and is estimated to hold more than 5 billion barrels of in-place reserves.

ONGC Videsh had earlier received approval from the Government of Mozambique for the development plan for the Golfinho-Atum natural gas field in the Area 1 block in the Rovuma Offshore Basin of Mozambique. It will undertake integrated development of the Golfinho-Atum field through an initial two train onshore liquefaction plant with a total processing capacity of 12.88 million metric tonnes per annum (MMTPA).

 

Sports Current Affairs – 7 March 2018

■ Former India captain Sunil Gavaskar has been named as the Commissioner of the T20 Mumbai League, which will be held at Wankhede Stadium from 11th to 21st March 2018.

 

■ In Hockey, India lost to Australia 2-4 in the Sultan Azlan Shah Cup being held at Ipoh in Malaysia. This was India’s second loss in three games pushing them out of the race to reach the final of the tournament. Previously, India had lost the tournament opener to Argentina 2-3 before drawing 1-1 with England.

 

Viswanathan Anand, the five-time world champion, has won the 11th Tal Memorial Chess tournament (rapid section) 2018 in Moscow. The win came after an easy final round draw against Boris Gelfand of Israel. The Tal Memorial Rapid is a 10-player single round-robin taking place in the Museum of Russian Impressionism in Moscow.

 

Obituaries

■ Veteran actress Shammi, fondly called ‘Shammi Aunty’, has passed away in Mumbai after a prolonged illness at 89 years of age. She appeared in over 100 films including ‘Khuda Gawah’, ‘Hum’, ‘Arth’ and ‘The Burning Train’. Shammi is also known for her work in many television shows like ‘Dekh Bhai Dekh’, ‘Shrimaan Shrimati’ and ‘Kabhi Yeh Kabhi Woh’.

 

“Current Affairs Questions for UPSC IAS Prelims – 7 March 2018 “

Q1. Rashid Khan has become the youngest captain in international cricket history. He belong to which country?

  • A) Nepal
  • B) Bangladesh
  • C) Afghanistan
  • D) Sri Lanka

Q2. Which city is hosting the 19th edition of FICCI Frames 2018?

  • A) Mumbai
  • B) Pune
  • C) New Delhi
  • D) Kochi

Q3. The 2018 Shigmotsav festival has started in which state?

  • A) Assam
  • B) Goa
  • C) Maharashtra
  • D) West Bengal

Q4. What is the theme of the 2018 World Wildlife Day (WWD)?

  • A) Big cats: predators under threat
  • B) Listen to the young voices
  • C) Stop wildlife crime
  • D) The future of wildlife is in our hands

Q5. Which Indian naval command is hosting the multinational mega event ‘Milan 2018’ at Port Blair?

  • A) Eastern Naval Command
  • B) Western Naval Command
  • C) Southern Naval Command
  • D) Andaman & Nicobar Naval Command

Answer these questions in the comments below. We encourage you to discuss your thoughts on the news and issues mentioned in today’s current affairs post. The idea is to promote healthy discussions on interesting issues to make preparation fun. Have a good day!

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