Current Affairs: 08 March 2019

Daily Current GK Update

08 March, 2019

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  1. CCEA approves Rs 2,790 cr interest subvention on loans to sugar mills

The CCEA has approved Rs 2,790 crore interest subvention for extending loans by banks to sugar mills. This is in addition to Rs 1,332 crore already approved by the Cabinet Committee on Economic Affairs (CCEA) in June 2018.

The interest subvention is for extending loans of Rs 12,900 crore by banks to sugar mills under the scheme for extending financial assistance to sugar mills for enhancement and augmentation of ethanol production capacity.

Source: – The Economic Times


  1. India, Paraguay agree to promote bilateral investment, explore new areas of collaboration

India and Paraguay have agreed to identify sectors of mutual interest to promote bilateral investment and decided to explore new areas of collaboration, including Information and Communication Technology and space and biotechnology.

The decisions were taken as Vice President Venkaiah Naidu visited the country. He is the highest-level representative of India to visit Paraguay since the establishment of diplomatic relations between the two countries in 1961.


  1. India signs loan agreement with World Bank Uttarakhand Disaster Recovery Project

India has signed a loan agreement with the World Bank for 96 Million US dollars for additional financing of Uttarakhand Disaster Recovery Project.

Finance Ministry in a release stated the World Bank has been supporting the State Government since 2014 to restore housing and rural connectivity and to build the resilience of communities.

Source: – Press Information Bureau


  1. Singapore government to invest 5,000 cr in Bharti Airtel

India’s second-largest telecom company Bharti Airtel on Thursday said Singapore’s sovereign wealth fund GIC will subscribe to shares worth 35,000 crore as part of Airtel’s plans to raise $25,000 crore through rights issue. Airtel said its promoters transferred their right of subscribing to the shares in favour of GIC. Singapore’s Singtel also committed to buying 73,750 crore worth Airtel stock.

Source: – Bloomberg Quint


  1. Government announces new Rs 20 coin

The Centre has announced a new Rs 20 coin which will come in 12-edged polygon (dodecagon) shape. The government is also planning to release new coins of Re 1, Rs 2, Rs 5 and Rs 10. However, the govt has not announced the exact date for the issuance of these new series coins.

The Finance Ministry stated that the new Rs 20 coin will be made in copper, zinc and nickel. It will be 27 mm (millimeters) and weigh 8.54 grams. The Lion Capitol symbol of Ashoka Pillar with the legend “Satyamev Jayate” below it will be inscribed on its front side. The words “Bharat” in Hindi and “INDIA” in English will be there on the right and left-hand side of the symbol respectively.

Source: – The Economic Times


  1. Malaysia joins international criminal court

Malaysia has become a member of the International Criminal Court. The ICC is the world’s only permanent war crimes court and aims to prosecute the worst abuses when national courts are unable or unwilling. Malaysia becomes the 124th member of the court since its establishment in 2002.

But the tribunal in The Hague has come under fire over high-profile acquittals, while Burundi became the first country to quit the court in 2017 and the Philippines has announced its intention to withdraw.

Source: – News Asia


  1. IRDAI, NHA form working group to curb fraud in Ayushman Bharat scheme

The Insurance Regulatory and Development Authority of India (IRDAI) and the National Health Authority (NHA) have formed a working group on the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY). The joint working group, to be chaired by Dinesh Arora, Deputy CEO of NHA, will have 10 members from both the organisations.

In six months, it will submit a report on how to detect and deter fraud through a common repository and capacity-building.

Static/Current Takeaways Important for ESIC UDC and Stenographer Exam: IRDAI Headquarters: Hyderabad, NHB Headquarters: New Delhi Chairperson of IRDAI: Subhash Chandra Khuntia

Source: – The Hindu Business Line


  1. NGT fines Volkswagen 500 cr for using cheat devices in diesel cars

The National Green Tribunal (NGT) has fined German automaker Volkswagen 500 crore after finding it guilty of intentionally programming its engines in diesel cars with cheat devices. The green body has given Volkswagen two months to pay the penalty. The panel had said the use of cheat devices in diesel cars led to inference of environmental damage.

Source: – Reuters

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