Daily Current Affairs March 15
Table of Contents
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March 15 | Daily Current Affairs 2022
Important Days – Daily Current Affairs March 15
1. World Consumer Rights Day 2022:
- World Consumer Rights Day is an annual event that brings the international consumer movement together to celebrate and show support.
- Every year on March 15, World Consumer Rights Day is commemorated to safeguard consumer rights and to ensure that customers are not subjected to market exploitation or social injustice that may jeopardize their rights.
- Meanwhile India celebrates National Consumers Rights Day on 24 December.
- World Consumer Rights Day was inspired by President John F Kennedy, who sent a special message to the US Congress on 15 March 1962, in which he formally addressed the issue of consumer rights.
- He was the first world leader to do so.
- The consumer movement first marked that date in 1983 and now uses the day every year to mobilise action on important issues and campaigns.
- Consumer’s International on their website has informed that ‘Fair Digital Finance’ is the theme for World.
- On this day, numerous campaigns and actions are held in order to effect change and alteration in government policy in favour of consumers, as well as corporate behaviour toward customers.
2. International Day of Action for Rivers:
- The International Day of Action for Rivers is marked on 14 March every year to highlight the importance of rivers in our lives.
- The day also aims to raise awareness about equitable access to clean and flowing water.
- This year marks the 25th edition of the International Day of Action for Rivers.
- The day also creates awareness about how freshwater ecosystems like rivers are increasingly being polluted due to human activities.
- The International Day of Action for Rivers was first marked in March 1997, according to the official website of the International Rivers organisation.
- In the first International Meeting of Dams Affected Peoples held in Curitaba, Brazil.
- It was also decided that the day would be marked on 14 March, as it was Brazil’s Day of Action Against Large Dams.
- This year the International Rivers organisation has stated that it will mark the day by celebrating “the importance of rivers to biodiversity.”
Sports – Daily Current Affairs March 15
3. India’s Anirban Lahiri finishes runner-up at The Players Championship 2022:
- The 34 year old Anirban Lahiri finished solo second to Cameron Smith of Australia at The Player Championship following a pulsating finish at TPC Sawgrass.
- Lahiri grabbed a one-shot lead into the final round at TPC Sawgrass in the PGA Tour’s flagship US$20 million tournament but a closing 3-under 69 saw him finish one shy of Smith, who secured his fifth career victory and second of the season with a superb 66 and a winning total of 13-under 275.
Banking and Finance – Daily Current Affairs March 15
4. DBS Bank India launches Green Deposits programme enabling institutions to support sustainable projects:
- DBS Bank India has announced the launch of its Green Deposit Programme for corporate clients providing a simple way for companies to support environmentally-friendly projects or avenues.
- To integrate Sustainable Development Goals by offering lending & trade credit solutions to sustainable and environmentally-friendly green sectors and now offering a Green Deposit product.
- Under the Bank’s sustainability program, Green Deposits will fund green industries and initiatives such as; green building sustainable water initiatives that include wastewater management, renewable energy, and clean transportation.
- The Green Deposits proposition combines all the benefits of a regular fixed deposit with a commitment from DBS to support green and sustainable loans disbursed by the bank.
- Green Deposits serve as an ideal opportunity for corporates looking to include sustainability agenda into their treasury activities or those having limited options for investing in environmentally-beneficial projects.
- Our Green Deposits program aims to finance green industries and initiatives for renewable energy, managing wastewater, and clean transport.
- The deposits can provide a threefold benefit:
1. Demonstrate customer’s commitment towards environmental sustainability.
2. Customers can invest surplus cash in deposits supporting sustainable projects with positive environmental impact.
3. Customers can receive stable returns on investment without compromising the security of the deposit placement.
5. RBI imposes Rs 12.75 lakh penalty on 8 co-op banks:
- The Reserve Bank of India has imposed a penalty of Rs 12.75 lakh on eight cooperative banks for deficiencies in regulatory compliances.
- That banks are listed below,
- The RBI has slapped a penalty of Rs 4 lakh on The Nabapalli Cooperative Bank Limited, Barasat, West Bengal for non-adherence to directions issued under ‘Exposure Norms and Statutory/Other Restrictions – UCBs’.
- A penalty of Rs 3 lakh has been imposed on The Baghat Urban Co-operative Bank Limited, Solan, HP for contravention of certain sections of the Banking Regulation Act, 1949 as it failed to adhere to specific directions issued to it.
- A penalty of Rs 2 lakh has been imposed on The Manipur Women’s Cooperative Bank Limited, Paona Bazar, Imphal, Manipur for contravention of directions issued under ‘Exposure Norms and Statutory/Other Restrictions – UCBs’.
- A monetary penalty of Rs 1 lakh has been imposed on the United India Co-operative Bank Limited, Nagina, UP for contravention of certain sections of the Banking Regulation Act, 1949.
- A penalty of Rs 1 lakh has been imposed on Jila Sahakari Kendriya Bank Maryadit, Narsinghpur for contravention of/ non-compliance with the provisions of the Banking Regulation Act, 1949 and the Depositor Education and Awareness Fund Scheme, 2014.
- Penalty of Rs 50,000 has been imposed on The Amravati Merchants’ Co-operative Bank Ltd, Amravati for non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds – Classification and Reporting.
- The RBI Rs 25,000 penalty has been imposed on The Faiz Mercantile Co-operative Bank Ltd, Nasik for contravention with the directions to Urban Co-operative Banks on Board of Directors and Exposure Norms and Statutory/ Other Restrictions-UCBs.
- A penalty of Rs 1 lakh has been imposed on The Navnirman Co-operative Bank Ltd, Ahmedabad for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms/ concerns in which they are interested’ and ‘Loans and advances to directors etc- directors as surety/guarantors- Clarification-UCBs’.
6. Niva Bupa Health Insurance to provide affordable cancer plan:
- Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) announced a customised group plan for comprehensive coverage of cancer treatment at an annual premium of just ₹1499, plus taxes.
- This product has been developed by Niva Bupa in consultation with the Indian Cancer Society (ICS).
- This group insurance plan is designed for low and middle-income families and not only covers hospitalisation but also day-care expenses like radiation, chemotherapy, etc.
- This family floater plan offers ₹5 lakh coverage for up to two adults and three children (for families that do not have cancer).
- The cancer plan will be especially beneficial for the lower socio-economic strata of society and would enable customers to avail cashless treatment across 8000+ network hospitals empanelled with Niva Bupa.
- It would provide the much-needed financial shield against cancer treatments as well as increase the penetration of health insurance in India.
Acquisitions and Mergers – Daily Current Affairs March 15
7. Reliance New Energy Limited acquires assets of Lithium Werks:
- Reliance New Energy Limited, a wholly-owned subsidiary of Reliance Industries Ltd signed definitive agreements to acquire substantially all of the assets of Lithium Werks BV for a total transaction value of USD 61 million including funding for future growth.
- The assets include the entire patent portfolio of Lithium Werks, manufacturing facility in China, key business contracts and hiring of existing employees as a going concern.
- Through the acquisition of certain assets of Valence and A123 industrial division, the management of Lithium Werks brings 30+ years of battery expertise and nearly 200 MWh annual production capacity including coating, cell and custom module manufacturing capability.
- Lithium Werks is a leading provider of cobalt-free and high-performance Lithium Iron Phosphate batteries.
Books and Authors – Daily Current Affairs March 15
8. EAM pens new book ‘Modi@20: Dreams Meet Delivery’:
- EAM S Jaishankar has penned a new book, ‘Modi@20: Dreams Meet Delivery’, set for release in mid-April.
- In the book, the EAM has shared his experiences and insights of working with PM Modi in the last decade.
- The book is brought out by Rupa.
Appointments – Daily Current Affairs March 15
9. Turkmenistan leader’s son wins presidential election:
- Turkmenistan established a political dynasty, the son of the Central Asian country’s leader won its presidential election after an unusual vote-counting delay.
- Serdar Berdymukhamedov was the overwhelming favourite in the election to lead the gas-rich country and succeed his father Gurbanguly.
- The central election commission said Serdar Berdymukhamedov won 72.97 per cent of the votes.
- Serdar Berdymukhamedov has risen through a series of increasingly prominent government posts and most recently has served as the country’s deputy prime minister
10. Bajaj Allianz extends tenure of MD, CEO Singhel for 5 more years:
- Bajaj Allianz General Insurance, the second largest private sector general insurer, has extended the tenure of Tapan Singhel, the current managing director & chief executive officer (MD&CEO) of the company, by another five years, effective April 1, 2022.
- Singhel has already completed 10 years as the MD & CEO of the company.
- Under Singhel, the company has achieved a cumulative underwriting profit of over Rs 350 crore, grew its revenue at a compounded annual growth rate (CAGR) of 16 per cent, net profit at a CAGR of above 30 percent.
National Affairs – Daily Current Affairs March 15
11. Army announces Chair of Excellence at USI in memory of Gen Rawat:
- Army Chief Gen MM Naravane on Tuesday announced setting up of a ‘Chair of Excellence’ in memory of India’s first Chief of Defence Staff Gen Bipin Rawat at the United Service Institution of India (USI).
- The announcement came on the eve of the 65th bir anniversary of Gen Rawat.
- A cheque of Rs 5 lakhs was handed over to Maj Gen BK Sharma (retd), Director, USI which will be paid as honorarium to the nominated Chair of Excellence.
- Late General Bipin Rawat who served as India’s first CDS as well as the 27th Chief of Indian Army was an outstanding professional and was in the midst of steering one of the most radical transformations of the Indian military.
- Gen Bipin Rawat memorial Chair of Excellence will focus on the field of jointness and integration among the armed forces.
- The Chair of Excellence is a befitting tribute to the astute leadership and professionalism of the General.
12. Haryana govt introduces bill to exempt tractors from ban on old diesel vehicles in NCR:
- The Haryana government introduced a bill in the state assembly to exempt tractors from the rule that bans diesel vehicles older than 10 years from plying in NCR areas.
- The Haryana Laws (Special Provisions) Amendment Bill, 2022, to amend the Haryana Laws (Special Provisions) Act, 2019, was tabled in the House by Transport Minister Mool Chand Sharma and will be taken up for discussion later in the ongoing Budget session.
- In view of the financial condition of farmers and the ban on the operation of diesel vehicles older than 10 years in the National Capital Region, it is necessary and expedient to enhance the validity of the principal Act up to June 30, 2025.
- It is necessary and expedient to enhance the validity of the said Act up to June 30, 2025.
13. Telangana Min inaugurates Gramener’s new office:
- Telangana IT Minister K T Rama Rao inaugurated Gramener’s new state-of-the-art development and research office at SLN-one west building in Nanakramguda.
- Gramener, a New Jersey-based data science and storytelling company, that helps solve business problems.
- Gramener originated in Hyderabad in 2010 as the first Data Science & Storytelling company and soon expanded to global horizons, transforming decision making in enterprises, the public sector, and non-profits.
- The government is willing to work with data science companies like Gramener in departments like the municipal administration and others to come up with solutions that can ease the building permission processes, increase the efficiency and also up the coordination with other departments.
- We are glad to make our investments in Hyderabad, as the city provides access to key talent, great infrastructure, and entrepreneur-friendly IT policies to support our rapid growth.
- To scale Gramener’s vision and to provide value to enterprises, its Hyderabad office will have a capacity of 250 plus Data science resources with a unique skill combination of Statistics, Design, and Technology.
14. Cochin Shipyard, Dredging Corp to sign first ‘Make in India’ dredger building deal for $100-105 million:
- Cochin Shipyard will build a high-capacity dredger with Dutch technology support for Dredging Corporation of India Ltd (DCI) for $100-105 million (about ₹803 crore) in a boost to the government’s ‘Make in India’ plans.
- The shipbuilding agreement for a trailing suction hopper capacity of 12,000 cubic metres will be signed between Cochin Shipyard and Dredging Corporation.
- TSHDs are used to maintain the channel of ports.
- Mumbai-listed Cochin Shipyard will receive an extra 17 per cent on the contract price of the dredger as subsidy from the government per a ‘Shipbuilding Financial Assistance Policy’ approved by the Cabinet in 2016 for a ten-year period.
- Dredgers were included in the list of specialised vessels qualifying for the subsidy through an amendment to the policy in December last year.
- The dredger building agreement is being formalised more than a year after Cochin Shipyard and Visakhapatnam-based Dredging Corporation owned by four government-owned major port authorities signed an MoU in February 2021 to construct the dredger.
- This will be the first dredger to be built by Cochin Shipyard at its yard in Cochin following a memorandum of understanding (MoU) signed with IHC in November 2020 for collaboration on technology and design for high capacity, complex dredgers.
15. Karnataka launches first ever digital water data bank:
- As water crisis and water pollution escalate with changing global climate, the Karnataka government launched an innovative initiative aimed for better water management.
- Karnataka IT Minister C N Ashwath Narayan launched India’s first ever digital water data bank ‘AQVERIUM’, formed by AquaKraft Group Ventures.
- It offers a unique social franchising model to create ‘water entrepreneurs’ with an objective to make India ‘Water Positive’ by 2030.
- The Digital water data bank is a a curated list of water data from all institutions and sources, that will help tackle some common development challenges.
- The Digital water data bank also provides insights and evidence from research and analytics thereby providing fundamental reliable information for tackling water pollution.
16. Mumbai becomes first South Asian city to detail net-zero roadmap:
- Mumbai announced detailed plans to zero out carbon emissions by 2050, a target that puts it two decades ahead of India’s national goal and makes it the first city in South Asia to set such a timeline.
- In the plan announced, India’s financial center, home to south Asia’s biggest corporations, stock bourses and the central bank, has proposed exhaustive changes to the way it manages energy, water, air, waste, green spaces and transport for its 19 million residents.
- Without intervention, the effects of climate change could cost India $35 trillion over the next 50 years.
- To rising sea levels are expected to flood those parts of the city. In total, unabated climate change could cost the city $920 million.
- Plans for some crucial aspects of Mumbai’s transition switching its peak 3,400MW electricity consumption to renewable power sources.
- South Asia’s other megapolises including New Delhi, Bangalore, Chennai, Kolkata, Dhaka and Karachi are also preparing climate action plans.
17. Shri Nitin Gadkari to inaugurate pilot project for Hydrogen based advanced Fuel Cell Electric Vehicle (FCEV):
- Union Minister of Road Transport & Highways Shri Nitin Gadkari inaugurated the pilot project and also demonstrating Toyota Mirai FCEV on 16th March’2022 at New Delhi.
- Hydrogen is a key element of the energy strategy and would play a key role in the low carbon energy pathways.
- Green Hydrogen offers huge opportunities to decarbonize a range of sectors including road transportation and is gaining unprecedented momentum globally.
- Transportation powered by Green hydrogen are going to be a key technology option of the future with significant application, especially across bigger cars, buses, trucks, ships and trains and best suited for medium to long distances.
- As a part of Toyota commitment towards promoting sustainability by adopting multiple pathways to enable energy shift from fossil fuel and towards the conservation of our environment, Toyota Kirloskar Motor Pvt. Ltd. along with International Center for Automotive Technology (ICAT) are conducting a Pilot project to study and evaluate the world’s most advanced Fuel Cell Electric Vehicle (FCEV) Toyota Mirai which runs on hydrogen, on Indian roads and climatic conditions.
- This would be a first of its kind project in the country aimed at spreading awareness about Hydrogen, FCEV technology and disseminating its benefits to support hydrogen-based society for India.