Current Affairs: 03 March 2019

Daily Current GK Update

03 March, 2019

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  1. India to grow at 7.3% in 2019, 2020: Moody’s

According to Moody’s, Indian economy is expected to grow at 7.3 percent in the calendar year 2019 and 2020, and the government spending announced ahead of elections this year which will support near term growth.

Moody’s stated in its quarterly Global Macro Outlook for 2019 and 2020. In 2018-19 fiscal, ending March 2019, Indian economy is estimated to have grown 7 percent, lower than 7.2 percent in 2017-18.

Source: – The Economic Times


  1. Ravneet Gill takes charge as Yes Bank CEO, succeeds Rana Kapoor

Former Deutsche Bank India head Ravneet Gill took charge as Yes Bank CEO and MD on Friday, succeeding Founder Rana Kapoor, who has helmed the private sector bank since 2004. The Reserve Bank of India (RBI) had asked Kapoor to step down by January 31. Kapoor holds a 10.66% stake in the bank, currently valued at over 35,800 crore.

Source: – Livemint


  1. Sushma Swaraj addresses OIC Foreign Ministers plenary session in Dubai

External Affairs Minister Sushma Swaraj addressed the plenary session of the foreign ministers’ meet of the Organisation of Islamic Cooperation states in Abu Dhabi.

Swaraj presented a picture of the secular fabric of India and began the speech by saying that she stands as a representative of land that has been for ages a fountain of knowledge, a beacon of peace, a source of faiths and traditions, and home to religions from the world.

Source: – DD News


  1. SpaceX launches 1st unmanned test capsule to space station

SpaceX has successfully launched its first unmanned Crew Dragon capsule through its Falcon 9 rocket, carrying a test dummy nicknamed ‘Ripley’ to the International Space Station (ISS). The mission is part of NASA’s $6.8-billion bet on SpaceX and Boeing to launch astronauts to the ISS. NASA currently pays around $80 million per seat to Russia for the same.

Source: – Reuters


  1. Centre, ADB sign 926 million loan agreement to operationalize two lines of Mumbai Metro

The Centre and the Asian Development Bank (ADB) have signed a 926 million dollar loan agreement to operationalize two lines of the Mumbai Metro Rail System.

It is the single largest infrastructure project loan in ADB history approved by the ADB Board. Once operational by the end of 2022, an estimated two million passengers a day will use the two new lines and will travel in improved safety and comfort.

Source: – Business Standard


  1. Ex-Finance Secretary Hasmukh Adhia appointed Bank of Baroda

Chairman The government has appointed former Finance Secretary Hasmukh Adhia as the Non-Executive Chairman of Bank of Baroda for three years. The state-owned bank is set to become India’s third-largest lender after merging with Vijaya Bank and Dena Bank. Finance Minister Arun Jaitley had in November said that Adhia informed him earlier he wouldn’t work for a single day after retirement.

Source: – Livemint


  1. Usha Thorat-led task force to ensure stability of external value of rupee

The Reserve Bank of India has constituted an eight-member task force on offshore rupee markets, headed by Usha Thorat former Deputy Governor, to look into issues related to the markets and recommend appropriate policy measures to ensure the stability of the external value of the rupee.

The terms of reference of the task force include assessing the causes behind the development of the offshore rupee market; study the effects of the offshore markets on the rupee exchange rate and market liquidity in the domestic market; and recommend measures to address concerns, if any, that may arise out of offshore rupee trading.

Source: – The Hindu Business Line


  1. Centre approves NIA proposal to set up research cell on ISIS

Home Minister Rajnath Singh on Friday said that the government has approved the proposal of National Investigation Agency (NIA) to open a research cell on terror group Islamic State (ISIS). He added that 100 new posts have been created in the NIA. He further said that it’s a matter of pride that the conviction rate of NIA is 92%.

Source: – PTI

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