Current Affairs: 16 March 2017

Cabinet approves revised pact with Bangladesh to set up Border Haats

  • The Union cabinet approved revised MoU between India and Bangladesh for establishing Border Haats.
  • The Union cabinet, chaired by the Prime Minister Narendra Modi, has given its approval to the revised Memorandum of Understanding (MoU) and Mode of Operation (MoO) between India and Bangladesh for establishing Border Haats on India-Bangladesh border.
  • The Revised MoU and Mode of Operation will provide a legal framework for establishment and operationalisation of additional border haats

Importance of Border Haats

  • Border Haats aim at promoting the well-being of the people dwelling in remote areas across the borders of two countries by promoting traditional system of marketing the local produce through local markets.
  • These measures help improve economic well-being of marginalised sections of society
  • Currently, four border haats are operational, two each in Meghalaya and Tripura. 
  • These were established and operationalised under the MoU and Mode of Operation of Border Haats signed between Bangladesh and India on 23 October 2010. Subsequently, an Addendum to Mode of operation of Border Haats was also signed on 15 May 2012.
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Telangana launched Rs. 605-crore ‘KCR Kit’ scheme for pregnant women, new born

  • Focussing on women welfare and new born, Telangana Chief Minister K Chandrasekhar Rao has come out with an innovative scheme – KCR Kit.
  • The scheme is designed to address complications during the time of pregnancy and aimed at reducing infant mortality rate and encourage institutional deliveries.
  • The KCR Kit consists of 16 essential things needed for a new-born and will be useful for up to three months.
  • The kit comes packed with soaps useful for mother and child, baby oil, baby bed, mosquito net, dresses, sarees, hand bag, towels and napkins, powder, diapers, shampoo and toys for the kid.
  • The government proposes to earmark Rs. 605 crore for the scheme.
  • The State has initiated a number of measures for the welfare of women and children. In order to provide nutritious food to pregnant and lactating women and infants under Arogya Lakshmi, eggs, milk and nutritious food will be made available through the Anganwadis. 
  • For easy digestion, ‘Sanna Biyyam’ (fine rice) will be supplied through these Anganwadis.
  • The scheme is modelled around the 'Amma Kit' distributed for babies and mothers in Tamil Nadu. 

Babul Supriyo named vice-president of FIFA U-17 World Cup LOC

  • Union Minister Babul Supriyo has been appointed vice-president of the FIFA U-17 World Cup organizing committee.
  • The showpiece event, to be hosted by India for the first time, will be played from October 6 to 28.
  • The draw of the tournament will be held on July 7.
  • A FIFA team is scheduled to visit India from March 21 to 27 for the final inspection of the facilities in the six cities which will host matches of the U-17 World Cup.
  • The 2017 FIFA U-17 World Cup will be the 17th edition of the FIFA U-17 World Cup, the biennial international men's youth football championship contested by the U17 national teams of the member associations of FIFA. 
  • The tournament will be hosted by India between 6 and 28 October 2017. This will be the first FIFA tournament hosted by the country.

The FIFA U-17 World Cup

  • The FIFA U-17 World Cup, founded as the FIFA U-16 World Championship, later changed to its current name in 2007, is the world championship of association football for male players under the age of 17 organized by Fédération Internationale de Football Association (FIFA).
  • The FIFA U-17 World Championship is a competition that was inspired by the Lion City Cup that was created by the Football Association of Singapore in 1977. 
  • The Lion City Cup is the first under-16 football tournament in the world.

Tata Steel, Wipro in world's most ethical companies' list 

  • Two Indian companies, Tata SteelBSE and Wipro have been named in the list of world's most ethical companies by American think tank Ethisphere Institute. 
  • Ethisphere honours those companies who recognise their role in society to influence and drive positive change in the business community and societies around the world. 
  • In 2017, there were 124 honorees spanning five continents, 19 countries and 52 industry sectors. 
  • Wipro is one of the two information technology companies named in the list, the other being Xerox Corporation. 
  • Meanwhile, Tata Steel is also one of the two companies named in the metals, minerals & mining space. US-based Schnitzer Steel Industries Inc is the other company in this segment. 
  • Ford Motor Company has been named one of the World's Most Ethical Companies for the eighth straight year. 

Tata Steel Limited

  • Tata Steel Limited (formerly Tata Iron and Steel Company Limited (TISCO)) is an Indian multinational steel-making company headquartered in Mumbai, Maharashtra, India, and a subsidiary of the Tata Group
  • Chairman: Natarajan Chandrasekaran
  • Managing Director: T. V. Narendran

Wipro Limited

  • Wipro Limited (Western India Palm Refined Oils Limited or more recently, Western India Products Limited is an Indian Information Technology Services corporation headquartered in Bangalore, India
  • Founded: 29 December 1945
  • Founder Mohamed Hasham Premji[
  • Headquarters Bangalore, Karnataka, India
  • Chairman: Azim Premji
  • CEO: Abidali Neemuchwala

Govt launches new scheme TIES for developing export linked infrastructure

  • The government has launched a new scheme — TIES — for developing export linked infrastructure in states with a view to promote outbound shipments.
  • Launched by Commerce and Industry Minister Nirmala Sitharaman, the Trade Infrastructure for Export Scheme (TIES) seeks to bridge the infrastructure gap and provide forward and backward linkages to units engaged in trade activities.
  • An inter-ministerial empowered committee for sanctioning and monitoring of the project was set up for the scheme. It will be headed by the commerce secretary Rita Teaotia 
  • The TIES would focus on projects like customs checkpoints, last mile connectivity, border haats and integrated check posts.
  • The idea of this scheme is to address those gaps in infrastructure which are not addressed by any other scheme. It will help to ensure smoother movement of export cargo and also ensure quality standards and certification

Salient Features

  • Under the scheme, priority would be given to the projects involving significant contribution by the implementing agency and bank financing for achieving financial closure.
  • The other salient features of the scheme includes promotion of leveraging of funds from other sources including bank financing; no recurring costs of the land to be included; and operating & maintenance costs to be met through pay and use charges.
  • The central and state agencies, including Export Promotion Councils, Commodities Boards, SEZ authorities and apex trade bodies recognised under the EXIM policy of government; are eligible for financial support under this scheme.

World Consumer Rights Day: 15 March 2017

  • World Consumer Rights Day (WCRD) was started in 1983 and is an awareness day which is observed on March 15. 
  • It is celebrated annually to instigate action among citizens for the international consumer movement.
  •  Everyone is a consumer, and World Consumer Rights Day gives a platform for all to voice any difficulties they face. 
  • It ensures that their rights are respected and protected over injustice done in the market.
  • 2017 theme ‘Empowering Consumers in The Digital Age

US Senate confirms Indian-American Seema Verma for top health care post

  • The US Senate has confirmed Indian-American Seema Verma for a top health care position in the Trump administration and she was set to play a key role in the government's bid to "repeal and replace" Obamacare.
  • Ms Verma, who has been described by the White House as the "unquestionably qualified" first generation Indian-American, was confirmed by the Senate by a vote of 55-43.
  • She is likely to play a key role in the health care reform of US President Donald Trump, who has made it a priority to repeal and replace the affordable healthcare of his predecessor Barack Obama.
  • The second Indian-American in the Trump Administration to be confirmed by the Senate, Ms Verma would head the USD 1 trillion Centers of Medicare and Medicaid Services that provides health services to 130 million people.
  • A health policy consultant, she is known as the architect of health care reforms in several states, including Indiana. 

ICICI Bank, SBI, StanChart top bank frauds list: RBI

  • ICICI Bank topped the list of banks that witnessed most number of frauds during April-December period of 2016 with state-owned SBI taking the second spot, RBI data said.
  • During the first nine months of the current fiscal, as many as 455 fraud cases involving Rs 1 lakh and above were detected in ICICI Bank, closely followed by SBI (429), Standard Chartered (244) and HDFC Bank (237).
  • The other banks which reported large number of frauds to the apex bank during the period include Axis Bank (189), Bank of Baroda (176) and Citibank (150).
  • However, in value terms, frauds involving Rs 2,236.81 crore were reported in SBI, followed by Punjab National Bank (Rs 2,250.34 crore) and Axis Bank (Rs 1,998.49 crore).
  • In the case of SBI, 64 employees were involved in fraud cases, while it was 49 for HDFC Bank and 35 for Axis Bank.

Central Bank won Official language policy award

  • Central Bank of India has been awarded first prize in the implementation of Official Language Policy in the western region for the year 2015-2016.
  • Sudhir Pathak, Chief Manager, Central Bank of India, received the trophy and certificate from Kalyan Singh, Governor of Rajasthan, at the Official Language Conference of Central and Western Regions in Udaipur recently.Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India.

Central Bank of India

  • Founded 21 December 1911; 105 years ago
  • Headquarters Mumbai, Maharashtra, India
  • Chairman & Managing Director: Shri. Rajeev Rishi, 
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