Current Affairs: 07 March 2019

Daily Current GK Update

07 March, 2019

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  1. World Bank to provide 250 Million dollar for NRETP to boost Rural incomes in India

The World Bank will provide a $250-million loan for the National Rural Economic Transformation Project (NRETP) to help women in rural households develop viable enterprises for farm and non-farm products. An agreement in this regard was signed between the World Bank and the Government of India.

The $250 million loans have a 5-year grace period and a final maturity of 20 years. The NRLP, which is currently being implemented across 13 states, 162 districts and 575 blocks, has so far mobilised more than 8.8 million women from poor rural households into 7.5 lakh self-help groups (SHGs).

Source: – Business Today


  1. Bharat Electronics launches SWAGAT- Automatic Fare Collection Gating System

Bharat Electronics Limited (BEL), a defence public sector undertaking, presented SWAGAT – the Automatic Fare Collection Gating System. PM Narendra Modi launched the system as part of the inaugural of Phase-l of the Ahmedabad Metro.

SWAGAT is an initiative steered by the Ministry of Housing and Urban Affairs (MoHUA) in collaboration with BEL and Centre for Development of Advanced Computing (CDAC) with the support of Delhi Metro Rail Corporation (DMRC), National Payment Corporation of India (NPCI) and State Bank of India (SBI).

Source: – The Hindu Business Line


  1. President presents Swachh Survekhshan-2019 Awards

President Ram Nath Kovind has presented Swachh Survekhshan-2019 Awards in New Delhi. Indore bagged award for the cleanest city for third straight year in Swachh Survekshan.

New Delhi Municipal Council area gets cleanest small city award while Uttarakhand’s Gauchar was adjudged Best Ganga Town in the survey. Top-ranked cities received a statue of Father of the Nation Mahatma Gandhi as the award for their work towards cleanliness. Swachh Survekshan 2019 covered all Urban Local Bodies in the country, making it the largest such cleanliness survey in the world.

Source: – All India Radio


  1. ‘Azaadi Ke Diwane’ museum inaugurated at Red Fort

Union Minister Mahesh Sharma has inaugurated ‘Azaadi Ke Diwane’ museum, dedicated to the unsung heroes of the country’s freedom struggle, on the Red Fort premises in New Delhi.

Built by the Archaeological Survey of India (ASI), the museum is the fifth in a series of recently inaugurated ones – the others being the Subhash Chandra Bose and INA museum, the Yaad-e-Jallian museum, the Museum on 1857 (on the country’s first war of Independence) the Drishyakala (a museum on Indian Art) on the sacrifices of India’s freedom fighters.

Source: – The Hindu


  1. SBI, Hitachi arm to roll out digital payments platform

State Bank of India (SBI) and Hitachi Payment Services Pvt Ltd, a wholly-owned subsidiary of Hitachi Ltd has launched their merchant-acquiring joint venture, SBI Payment Services Pvt Ltd (SBIPSPL) in Mumbai for establishing a digital payments platform for India and other countries in the region.

The joint venture (SBI) has a 74 percent stake, and the balance is with Hitachi Payment Services) will facilitate expansion of the digital payments landscape in India via its digital payments platform.


  1. RBI fines 19 banks over 40 cr for non-compliance on SWIFT use

The RBI has fined at least 19 banks including SBI and ICICI Bank over the past few days for not complying with its guidelines on the use of global payments network SWIFT. The combined penalties amounted to over 40 crore. SWIFT is a messaging network used by financial institutions to securely transmit information and instructions using a system of codes.

Source: – Reuters


  1. Government brings transport scheme to boost agriculture exports

The government has introduced a scheme for providing financial assistance for transport and marketing of agriculture products with a view to boosting export of farm commodities to certain countries in Europe and North America.

Under the Transport and Marketing Assistance (TMA) scheme, the government would reimburse a certain portion of freight charges and provide assistance for marketing of agricultural produce. The scheme covers freight and marketing assistance for export by air as well as by sea (both normal and refrigerated cargo).

Source: – Business Today


  1. India signs loan agreement with the World Bank for USD 25.2 million

The Government of India, the State Government of Chhattisgarh and the World Bank signed a $25.2 Million Loan Agreement to support the State’s Reforms in Expenditure Management. This support will cover Expenditure Planning, Investment Management, Budget Execution, Public Procurement, and Accountability.

The Chhattisgarh Public Financial Management and Accountability Program, which is the First Bank-Financed State-Level Project in Chhattisgarh in nearly a decade, will also help the State strengthen its Direct Benefit Transfer (DBT) and Tax Administration Systems.


  1. Bilateral joint exercise between India, Oman to begin from 12th March

The third edition of the bilateral joint exercise between India and Oman, AI Nagah 2019 will begin from 12th of this month (March) at Jabel Al Akhdar Mountains in Oman.

It will continue till 25th of March. In the exercise, both the armies will exchange expertise and experience in tactics, weapon handling and firing.

Source: – AIR

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