Daily Current Affairs March 12

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March 12 | Daily Current Affairs 2022

Important Days – Daily Current Affairs March 12

1. Department of Consumer Affairs to organize “Consumer Empowerment Week” from 14th to 20th March 2022 to celebrate Azadi Ka Amrit Mahotsav:

• To commemorate 75 years of progressive India and the glorious history of its people, culture and achievements Department of Consumer Affairs to organize “Consumer Empowerment Week” from 14th to 20th March 2022 as a part of Azadi Ka Amrit Mahotsav.
• The celebrations coincide with World Consumer Rights Day, which falls on 15th March.
• Field units of organizations under the Department are Bureau of Indian Standards (BIS), Indian Institute of Legal Metrology (IILM) Ranchi, National Cooperative Consumers’ Federation of India Limited (NCCF), National Test House (NTH) and Regional Reference Standards Laboratories (RRSLs) will conduct rural outreach programmes in 75 villages.
• The outreach programmes will create awareness about various initiatives of interest to the local populace like National Consumer Helpline (NCH).
• On 15th March 2022, the Department will celebrate World Consumer Rights Day.
• The main event is being organized in New Delhi and the theme this year is “Fair Digital Finance”.
• The event will be inaugurated by Shri Piyush Goyal, Union Minister of Consumer Affairs, Food and Public Distribution, Textiles, and Commerce & Industry along with Shri Ashwini Kumar Choubey.

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Sports – Daily Current Affairs March 12

2. Jhulan Goswami becomes highest wicket taker in women’s WC history:

• Veteran India pacer Jhulan Goswami surpassed yet another milestone in her illustrious 22-year-old career by becoming the all-time highest wicket-taker in the history of the ICC Women’s World Cup.
• With 40 scalps in her kitty, Goswami has surpassed Australia’s Lynette Fullston, who took 39 wickets during her career spanning six year from 1982 to 1988.
• Goswami achieved the feat by dismissing Anisa Mohammed in the 36th over of the innings with West Indies chasing a mammoth target of 318 set by India.
• Goswami, thus, lead the chart ahead of Fullston, England duo of Carole Hodges (37 wickets) and Claire Taylor (36) and another Australian in Cathryn Fitzpatrick (33).

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Obituary – Daily Current Affairs March 12

3. Zambia’s former president Rupiah Banda dies aged 85:

• Former Zambian President Rupiah Bwezani Banda, 85 died after a short battle with colon cancer.
• Banda, Zambia’s fourth president who was in power from 2008 to 2011, was diagnosed with cancer two years ago.
• Banda had held senior diplomatic posts under first President Kenneth Kaunda before being eventually named as vice president in 2006 by then-President Levy Mwanawasa.

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Banking and Finance – Daily Current Affairs March 12

4. EPFO fixes 8.1 pc as interest rate on EPF deposits for 2021-22:

• Retirement fund body EPFO on Saturday decided to lower the interest on provident fund deposits for 2021-22 to an over four-decade low of 8.1 percent for its about five crore subscribers, from 8.5 percent provided in 2020-21.
• This is the lowest since 1977-78 when the EPF interest rate stood at 8 percent.
• The Employees’ Provident Fund Organisation’s (EPFO’s) apex decision making body Central Board of Trustees.
• The 8.5 percent interest rate on EPF deposits for 2020-21 was decided by the Central Board of Trustees (CBT) in March 2021.
• EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 percent for 2019-20, from 8.65 percent provided for 2018-19.

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5. RBI lifts restriction on HDFC Bank’s business generating activities:

• HDFC Bank and that the Reserve Bank of India (RBI) has lifted the restriction on the business generating activities planned under the Bank’s Digital 2.0 programme vide its letter dated March 11, 2022.
• The same has been notified to the Stock Exchanges on March 12, 2022.
• To extend our gratitude to the regulator for this action.
• And fully committed to ensuring continued adherence to the highest standards of compliance with RBI recommendations.
• According to the Bank statement it also take this opportunity to convey our heartfelt thanks to our customers for the trust and faith they have reposed in us.
• And have utilised this time to draw up short, medium, and long-term plans to meet the evolving digital requirements of our customers and we will roll out these initiatives in the days to come.

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6. J&K Bank signs MoU with SKIMS for digital payment system:

• J&K Bank signed a Memorandum of Understanding (MOU) with the valley’s premier healthcare institute Sher-e-Kashmir Institute of Medical Science (SKIMS) for digital payment system under Ayushman Bharat Digital Mission.
• The MoU for starting an online payment system was signed between the Bank and SKIMS to integrate the Hospital Information Systems (HIS) of SKIMS with Ayushman Bharat Digital Mission (GoI) a major step towards providing smooth, digitized and seamless healthcare services to the people of J&K.

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Business and Economy – Daily Current Affairs March 12

7. NSE, IBJA join hands to launch spot bullion exchange:

• The National Stock Exchange of India (NSE) has joined hands with the India Bullion and Jewelers Association Ltd (IBJA) to launch Domestic Bullion Spot Exchange to ensure complete transparency in the bullion transactions executed on its platform.
• This framework will cater to business-to-business segments of the industry and integrate the value chain participants in the bullion ecosystem.
• The shareholding shall have participation from NSE, IBJA and industry participants (refiners, bullion dealers, jewelers, banks, overseas suppliers, funds, FPIs, other MIIs) as per regulatory norms.

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Acquisitions and Mergers – Daily Current Affairs March 12

8. Torrent Power completes acquisition of Surya Vidyut Ltd:

• Torrent Power has completed the acquisition of wind energy firm Surya Vidyut Limited from CESC Limited.
• Surya Vidyut was a wholly-owned subsidiary of CESC Limited with a total capacity of 156 megawatts (MW) spread across Gujarat, Rajasthan and Madhya Pradesh.
• Share purchase agreement between Torrent Power Limited and CESC Limited, Haldia Energy Limited along with nominal shareholders (the Sellers) and Surya Vidyut Limited (SPV), completed transaction of acquisition of 100 per cent equity share capital of Surya Vidyut Limited.
• Long-term power purchase agreements (PPAs) for the projects with respective state discoms for 25 years, with a weighted average tariff of Rs 4.68/ kWh (kilowatt-hour).

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Appointments – Daily Current Affairs March 12

9. Venu Prasad appointed as additional chief secretary to Punjab CM:

• Senior IAS officer A Venu Prasad has been appointed as the additional chief secretary to the Punjab chief minister.
• Prasad is a 1991-batch IAS officer.
• He was additional chief secretary, parliamentary affairs and taxation, with additional charge of chairman-cum-managing director, Punjab State Transmission Corporation Limited.

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International Affairs – Daily Current Affairs March 12

10. India, Sri Lanka sign agreement to build solar power plant in island nation:

• India and Sri Lanka have signed an agreement for developing a 100 megawatt solar power plant in the island nation’s eastern port district of Trincomalee, as part of the efforts to strengthen bilateral economic partnership, including through cooperation in the renewable energy sector.
• The Joint Venture and Shareholders’ Agreement (JVSHA) for the Trincomalee Power Company Limited (TPCL) a joint venture between National Thermal Power Corporation (NTPC) Limited from India and the Ceylon Electricity Board (CEB).
• India’s cooperation with Sri Lanka in this domain will only become stronger with the implementation of the USD 100 million Line of Credit offered by India to Sri Lanka for development of solar power projects.

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National Affairs – Daily Current Affairs March 12

11. Odisha, NABARD join hands to increase fish production:

• The Odisha government and the National Bank for Agriculture and Rural Development (NABARD) have signed a MoU for the creation of fisheries infrastructure to augment fish production in the state.
• The dedicated Fisheries and Aquaculture Infrastructure Development Fund (FIDF) would help in the creation of infrastructure facilities in marine and inland sectors.
• It will augment the fish production of the state and Rs 119.8 crore has been initially approved.
• It would bring ”revolutionary change” in the fisheries sector of the state by tapping the potential.
• The FIDF aims to achieve a sustainable growth of 8-9 per cent to augment the country’s fish production capacity to around 20 million tonnes by 2022-23.

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12. J-K launches portal for change of land use permission in master plan areas:

• The Jammu and Kashmir administration launched an online portal for granting permission for change of land use in master plan areas in the union territory.
• In exercise of powers conferred by the Jammu and Kashmir Development Act, the housing and urban development department launched the portal for granting permission under the scheme for levy of charges for use of land as permitted in the master plan areas.
• According to a order, the Jammu Development Authority (JDA) is the competent authority to grant the permission for change in land use and to levy charges in the entire local planning area of the Jammu Master Plan 2032, including the Jammu Municpal Corporation, municipal committees of Bari Brahamna, Vijaypur, Gho-Manhasan, Bishnah and rural areas falling in the master plan’s limits.
• Any owner or authorised person desirous of getting land use of his land changed to the one prescribed in the Jammu Master Plan 2032 irrespective of whether he intends to undertake construction immediately thereafter or later, can apply for this permission through www.jkhuddobps.in or through the JDA’s www.jda.jk.gov.in by clicking online building permission on e-services tab of the JDA’s website.
• The change of land use (CLU) shall be given for residential, industrial, public and semi public, commercial use as per land use permissible in Jammu Master Plan 2032 for that particular piece of land.

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13. Centre releases over Rs 2,221 cr to Bihar, Karnataka & West Bengal for providing grants to Rural Local Bodies:

• Centre has released over 2,221 crore rupees to Bihar, Karnataka, and West Bengal for providing grants to the Rural Local Bodies.
• Over 1,112 crore rupees have been released to Bihar, over 473 crore to Karnataka and over 634 crore rupees to West Bengal.
• This Grant-in-aid is the second installment of tied grants to the State of Bihar and untied grant to the States of Karnataka and West Bengal of the year 2021-22.
• According to 15th Finance Commission recommendations, tied grants are released to Rural Local Bodies on the recommendations of the Department of Drinking Water and Sanitation for making improvements on sanitation and maintenance of open-defecation free status and supply of drinking water, rain water harvesting and water recycling.
• Untied grants are released on the recommendations of the Ministry of Panchayati Raj.
• The States are required to transfer the grants to the local bodies within 10 working days of receipt from the Central Government.
• So far, Centre has released over 31,765 crore rupees to Rural Local bodies in the year 2021-22.

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14. Hardeep Singh Puri launches initiative to push startups in water sector:

• Union Minister Hardeep Singh Puri launched ‘India Water Pitch-Pilot-Scale Start-up Challenge’, under which the government will select 100 startups and provide ₹20 lakh each as funding support.
• This follows the AMRUT 2.0 launched by Prime Minister Modi in October last year.
• The startups are the flavor of the season, as the number of unicorns in the country has jumped, by leaps and bounds.
• The scheme will ensure water security in the country, reduce its transportation costs, reduce groundwater contamination, and increase water utilization capacity.
• The inviting startups to be partners under technology sub-mission is a promising initiative which will help resolve urban water problems in the country.

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