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Current Affairs - 7 March 2016

Published on Monday, March 07, 2016

Flipkart launches e-wallet to take on Paytm, Freecharge

  • India's largest online retailer Flipkart has launched an online wallet - Flipkart Money - as it looks to make a push into the payments business. 
  • Flipkart Money would directly compete with the Alibaba-backed Paytm and Snapdeal's Freecharge. 
  • This move comes at a time when Flipkart is expanding beyond its core business of online commerce. The e-tailer has been bolstering verticals like the ads business and has opened up its logistics platform EKart to other e-commerce players in an attempt to monetize newer avenues.

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'Carriage by Air' amendment bill passed by Rajya Sabha

  • A bill that would enhance compensation for air travelers in case of death, injury, lost baggage or even inordinate delay in flights was passed by the Rajya Sabha on Wednesday. 
  • The 'Carriage by Air (Amendment) Bill, 2015', was passed by the Upper House with changes. It was cleared by the Lok Sabha in December 2015.

U.N. imposes harsh new sanctions on North Korea over its nuclear program

  • North Korea faces harsh new U.N. sanctions to starve it of money for its nuclear weapons program following a unanimous Security Council vote on Wednesday on a resolution drafted by the United States and Pyongyang's ally China.

India takes on U.S. at WTO over visa rules

  • India has filed a complaint to the World Trade Organisation against the United States over its measures raising fees on some applicants for temporary work visas, mostly involving the tech sector. 
  • The Geneva-based body said Friday that India has notified it has started dispute proceedings alleging the U.S. measures are not consistent with Washington’s commitments to accept services from other countries.

Asia Cup T20: India beat Bangladesh by 8 wickets to win 6th title

  • India clinched the Asia Cup trophy for a record sixth time after beating hosts Bangladesh by eight wickets, riding on Shikhar Dhawan's scintillating 44-ball 60 in a rain-truncated final on Sunday. 
  • While Sri Lanka have won the continental title five times and Pakistan twice, India's title triumph makes them the ahead of their continental neighbours.

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