Current Affairs Updates - 7th March 2018

Current Affairs Updates - 7th March 2018

Achieversrule team has brought to you the important Current Affairs Updates - 7th March 2018. These are important for the upcoming examinations of Bank like IBPS PO, IBPS CLERK, SSC CGL and SSC CHSL. Here we have sorted out the most important and Latest Current Affairs along with description given in bullet points. Aspirants should also follow the Daily Current Affairs Quiz to test their knowledge regularly.

First in India & World

The Marshall Islands will launch the world’s first legal tender cryptocurrency after a law passed by parliament earlier this week went unopposed by an official council.

• The nuclear-ravaged nation has partnered with Israeli company Neema to issue 24 million units of the Sovereign (SOV) digital currency. It will cap the number to prevent inflation

India’s first helicopter shuttle service (HeliTaxi) was launched in IT capital Bengaluru, Karnataka in a bid to provide last-mile connectivity between Electronic City and Kempegowda International Airport in Bengaluru.

• HeliTaxi provides connectivity between Airport and Electronic City (located in south about 70 km from airport in the city centre), home to hundreds of technology firms including, Infosys and other multinationals. 

Banking, Economic & Financial Affairs

The Reserve Bank of India (RBI) has imposed a penalty of Rs3 crore on Axis Bank for violation of non-performing asset (NPA) classification norms, and Rs2 crore on Indian Overseas Bank (IOB) for not complying with the know your customer (KYC) regulations.

• RBI said it had carried out a statutory inspection of private sector player Axis Bank with reference to its financial position as on 31 March 2016. The inspection, inter alia, revealed “violations of various regulations issued by RBI in the assessment of non-performing assets (NPA)”,the central bank said in a statement.

Rankings & Indexes

According to the Global Firepower index 2017, India is ranked fourth on a global index for its military strength, only the United States, Russia and China are ranked above India on the list.

• Neighbouring Pakistan is ranked 13th on the Global Firepower index 2017. India maintained its position above France in the top five military powers in the world, while Pakistan made it to the top 15 countries on the list in 2017.

National Affairs

Iraq has overtaken Saudi Arabia by a wide margin to become India's top crude oil supplier, meeting more than a fifth of the country's oil needs in the current financial year.

• Saudi Arabia traditionally has been India's top oil source but in the April-January period of 2017-18, Iraq dethroned it, supplying 38.9 million tonnes (MT) of oil.

Myanmar has indefinitely deferred signing an agreement with India to streamline the free movement of people within 16 km along the border.

• India is keen to sign the agreement but Myanmar — citing “domestic compulsions” — has asked more time before the agreement is sealed.

The headquarters of Animal Welfare Board of India (AWBI) has been shifted to Ballabhgarh in Faridabad District of Haryana from Chennai, Tamil Nadu.

• It was shifted after consultation with AWBI for better coordination between the Environment Ministry and AWBI for carrying out the animal welfare activities.

The Assam government announced that it had extended the implementation of the Armed Forces (Special Powers) Act in the state for six more months.

• The Home and Political Department of Assam on February 28 declared the whole state a “disturbed area” under the 1958 Act.

Jhunjhunu goes from worst sex ratio to the best in Rajasthan

• The 2011 census brought Jhunjhunu in Rajasthan the ignominy of being the district with the lowest sex ratio of 837 girls per 1,000 boys among 33 districts of the state. Seven years on, the district is being hailed as a model with the sex ratio at birth (SRB) touching an impressive 955 girls per 1,000 boys.

Science & Technology

Cybersecurity agencies have detected a new malware called Saposhi that can take over electronic devices and use them for Distributed Denial of Service attakcs.

• Saposhi Malware is capable of taking over electronic devices and turning them into bots (device taken over by malware) which can then be used for any purpose.

Defence & Railway News

The Western Railway (WR) helped passengers commuting by the air-conditioned (AC) local train beat their Monday morning blues by painting the first and the last coaches a cheerful lime green.

• The AC local has not been operated since last Thursday — it did not run on Friday on account of Holi, and on the weekend for its usual maintenance — and this period was used to paint the two coaches reserved for women.

Schemes / Programme

Over Rs. 5600 crore sanctioned under Swadesh Darshan Scheme by Tourism Ministry .

• A total amount of Rs. 5638.87 crore was sanctioned with release of Rs. 2148.17 crore since 2014-15 till date under the Swadesh Darshan Scheme of Ministry of Tourism.

Summit /Conference / Events

Uttarakhand Chief Minister Trivendra Singh Rawat on March 1 inaugurated the week-long 29th annual, world-famous International Yoga Festival (IYF) international yoga festival in Rishikesh's Parmarth Niketan.

• The Festival was officially inaugurated by President of India, M Venkaiah Naidu at a ceremony.

Awards & Honours: Miscellaneous

Guillermo del Toro wins Best Director and Best Picture Oscar for The Shape of Water

• Guillermo del Toro’s swoony merman fantasy The Shape of Water took home the awards for Directing and Best Picture.

Oscars 2018: James Ivory’s win for Call Me by Your Name makes him the oldest Oscar winner ever

• The big win of the night went to the 89-year-old James Ivory, who won the Best Adapted Screenplay award for his work on Call Me by Your Name, which he adapted from André Aciman’s 2007 novel.

Frances McDormand wins best actress award for Three Billboards at Oscars 2018

• Frances McDormand has won the best actress prize at the 90th Academy Awards for her performance as a grieving mother in Three Billboards Outside Ebbing, Missouri.

Obituary 

Veteran actor Shammi, who acted in over 100 films and TV shows, passed away in Mumbai .

• Shammi aunty to many in Bollywood, her real name was Nargis Rabadi. She started her career as a leading lady in Malhar and went on to do films such as Jab Jab Phool Khile, Upkaar, Ishaara, Half Ticket and Ittefaq.