Current Affairs: 12 March 2019

Daily Current GK Update

12 March, 2019

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  1. Madhya Pradesh government increases reservation quota of OBCs to 27%

The Madhya Pradesh government issued an ordinance increasing reservation quota for the Other Backward Classes (OBC) to 27% from the current 14%. The announcement was made by the state’s Law and Legal Affairs Minister PC Sharma. The ordinance was issued and notified after it received the assent from the state’s Governor Anandiben Patel.

Source: – The Indian Express


  1. SBI links interest on most savings account deposits to RBI Repo Rate

State Bank of India has become the first domestic bank to link the interest rate it offers on savings account deposits to an external benchmark – the Reserve Bank of India’s repo rate. By doing so, the bank will effectively link all loan rates to an external benchmark either directly or indirectly, thereby attempting to speed up the transmission of any changes in the benchmark monetary policy rate to depositors and borrowers.


  1. Acko awarded Coveted Golden Peacock Award 2019 for innovative product

ACKO General Insurance a new-age digital insurance company was awarded the coveted Golden Peacock Innovative Product Award – 2019, for their contextual micro insurance product -”Ola Ride Insurance”. The award was presented to Mr. Biresh Giri, Appointed Actuary & CRO, Acko. The award ceremony was held in Dubai.

Established by the Institute of Directors, India in 1991, The Golden Peacock Awards for Corporate Leadership and Excellence are now regarded as a benchmark of business excellence, both locally and globally.

Source: – The Indian Express


  1. India bags 1st prize at international ‘Golden City Gate Tourism Awards 2019’ in Berlin

The Ministry of Tourism, Government of India has won the First Prize in the category of TV Cinema Spot at the prestigious international Golden City Gate Tourism Awards 2019. The awards were received by Yogendra Tripathi, Secretary, Tourism at ITB, Berlin.


  1. 14th CII-EXIM Bank conclave on India-Africa project partnerships to be held in New Delhi

Ministry of Commerce & Industry will be organizing the 14th CII-EXIM Bank Conclave on India-Africa Project Partnerships, in association with Confederation of Indian Industry and EXIM Bank of India in New Delhi.

The event will mark the deepening of India-Africa economic and business ties and pave the way for a whole range of cross-border project partnerships. The conclave brings senior Ministers, policymakers, officials, business leaders, bankers, technologists, start-up entrepreneurs and other professionals from India and Africa on a common platform in a spirit of partnership

Source: – Press Information Bureau


  1. ED attaches 78.4-cr assets of Agusta-Westland accused Khaitan

The Enforcement Directorate (ED) on Monday said it has attached assets worth 78.46 crore of Delhi based lawyer Gautam Khaitan, an accused in the $3,600-crore Agusta-Westland scam. The properties are located in Delhi, Haryana and Uttarakhand, the agency added. The action was taken as part of a second criminal probe against him for allegedly possessing undisclosed foreign accounts.

Source: – ANI


  1. Lok Sabha elections 2019: polls to be held in 7 phases, starting from April 11

Lok Sabha 2019 elections start from April 11, in seven phases, says Election Commission. Code of Conduct for parties kicks in from 10th March and there are close to 90 crore eligible voters. Date of counting will be on the 23rd of May 2019.

Schedule of Lok Sabha polls

Phase one – 11th April 2019

Phase two – 18th April 2019

Phase three – 23rd April 2019

Phase four – 29th April 2019

Phase five – 06th May 2019

Phase six – 12th May 2019
Phase seven – 19th May 2019

Date of counting- 23rd May 2019

Source: – Live Mint


  1. Korea Exim Bank extends Rs 4,100 crore loan for Vizag Metro

Korea Exim Bank has come forward to extend a Rs 4,100 crore loan for Visakhapatnam (VIZAG) Metro Rail project. The state government had earlier sent a proposal in this regard to the Central government, which in turn forwarded it to Korea Exim Bank. Following this, the Bank deputed a team to Amaravati to hold talks with the state government.

Source: – The Indian Express


  1. Insolvency and Bankruptcy Board inks cooperation agreement with IFC

The Insolvency and Bankruptcy Board of India (IBBI) has signed a Cooperation Agreement with the International Finance Corporation (IFC), a member of the World Bank Group (WBG).

The agreement will enable IFC to assist IBBI to further build the capacity of insolvency professionals, and insolvency professional agencies for the purposes of the Code. The agreement was signed by K. R. Saji Kumar, Executive Director, IBBI and Jun Zhang, Country Manager, IFC India.

Source: – Press Information Bureau

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