1. RBI cancels
registration of 22 NBFCs
(i) Exercising powers conferred to it under Section 45-IA
(6) of the Reserve Bank of India Act, 1934, the RBI has cancelled registration
of 22 non-banking financial companies (NBFCs).
(ii) NBFCs whose registration have been cancelled include
Kundan Leasing and Finvest, Raseera Investments, Limtex Impex, Dignity Motors
Finance, Amazan Capital, Mascot Commerce, Akansha Consultancy Services, Bini
Commercial Enterprises, Nirankar Investments, and Surin Investments.
(iii) Following the cancellation of their registration,
these companies can no longer conduct business as an NBFC.
2. Legendary singer P
Susheela enters Guinness World Records
(i) Renowned playback singer Pulapaka Susheela Mohan
recently entered the Guinness Book of World Records for singing the most number
of songs in Indian languages.
(ii) While the Guinness Records has acknowledged her for
singing 17,695 songs in 12 Indian languages, earlier, Asia Book of Records has
recognised her for singing close to 17, 330 songs.
(iii) Susheela started singing professionally in 1951. The
five-time national award winner and Padma Bhushan awardee, surpassed Asha
Bhosle’s record of 11,000 songs.
3. 13th EU-India Summit held in Brussels
(i) The 13th EU-India Summit concluded in Brussels, Belgium on March 30 where the leaders reaffirmed their commitment to strengthen the EU-India Strategic Partnership.
(ii) In order to achieve this, Indian Prime Minister Narendra Modi & President of the European Council Donald Tusk endorsed the “EU-India Agenda for Action-2020”, thereby creating a roadmap for the EU-India Strategic Partnership for the next 5 years.
(iii) Both the sides also discussed ways to further the EU-India Broad-based Trade and Investment Agreement (BTIA) negotiations.
(iv) Further, European Investment Bank’s President Werner Hoyer confirmed its commitment to support long-term investment across India for over 20 years for environmentally sustainable social and economic development.
4. CBDT signs 11 more
advance pricing pacts
(i) The Central Board of Direct Taxes recently signed 11
more advance pricing agreements (APAs). With this, the total number of APAs signed
are 59.
(ii) The recently signed APAs cover a wide range of transactions,
including ITeS, corporate guarantee, software development services, overseas
distribution of goods manufactured by Indian companies and royalty payments.
(iii) Note: APA is an agreement between a corporate taxpayer
and the tax authority on its transfer pricing methodology and the tax rate
applicable on inter-company transactions.
(iv) Introduced in 2012, the APA scheme tries to avoid tax
disputes and provide surety to taxpayers in transfer pricing by specifying the
method of pricing and fixing prices of international transactions in advance.
5. Wipro appoints PayPal
exec Patrick Dupuis as independent director
(i) India’s third-largest IT services company Wipro Ltd. has
appointed PayPal executive Patrick Dupuis as an independent director to its board.
Dupuis, a financial and business strategist, has an experience of over 30 years
and was PayPal’s CFO.
(ii) He was also associated with General Electric for 20
years and his new appointment will be effective from April 1, 2016.
(iii) Earlier in March, Wipro had roped in technologist and
venture capitalist Patrick J Ennis as another independent director to its
board.
6. Renowned American author
Jim Harrison passes away
(i) Jim Harrison, hailed as one of the great writers in
contemporary American fiction, has passed away at the age of 78.
(ii) He authored over 40 books, including novels, poems, interviews
and essays. Revenge, Wolf, Legends of the
Fall, etc. are some of his most successful
novellas that were later made in to motion pictures. He later donned the hat of
a screenwriter for many films.
(iii) His works were known for unparalleled descriptions of
outdoor life. Most of his novels were set in faraway and striking wilderness of
the American west.
7. Haryana first
state to launch injectable contraceptive
(i) Haryana recently became India’s first state to launch
injectable contraceptives in order to encourage family planning.
(ii) The initiative is part of Project Salamati, which is
being implemented by the state health department with the assistance of
Pathfinder International. It will initially be started in nine health blocks of
four districts of the state that have high infant and maternal mortality rates.
(iii) The facility would be available free of cost at all
primary health centres, community health centres, sub-divisional and district
hospitals.
(iv) An outlay of Rs.3,916.94 crore has been allocated for
health and family welfare in the year 2016-17.
8. Defence Minister flags
of India’s first indigenous sonar dome
(i) Defence Minister Manohar Parrikar recently flagged off
India’s first indigenous composite sonar dome that would act as a ship’s
underwater eyes and ears.
(ii) In keeping with the government’s Make in India
initiative, the dome has been designed and produced by the Defence Research and
Development Organisation and manufactured by composites manufacturing company
Kineco Ltd, Pilerne (Goa).
(iii) The sonar dome will be delivered to Mazgaon Docks,
Mumbai for use in the warships of Indian Navy.
9. Asia’s biggest
telescope ARIES launched in Uttarakhand
(i) Recently, the Aryabhatta Research Institute of
Observational Sciences (ARIES), Asia’s biggest optical telescope was launched at
Devasthal in Uttarakhand by Indian PM Narendra Modi and Belgian Prime Minister Charles
Michel.
(ii) Built with Belgian assistance, the telescope will be
used to star structures and magnetic field structures of stars.
10. Najma Heptulla launches skill development programme of MANAS
(i) Union Minority Affairs Minister Dr Najma Heptulla has launched innovative entrepreneurship and skill development programme of Maulana Azad National Academy for Skills (MANAS).
(ii) She also inaugurated two training centres in Okhla and Daryaganj that will focus on the field of wellness and beauty.
(ii) Under this initiative, MANAS plans to use the expertise of leading celebrities to make several such skill development projects, across different fields, a success in order to benefit underprivileged sections of minority communities.
11. China launches 22nd
BeiDou navigation satellite
(i) China has launched its 22nd satellite for the
BeiDou Navigation Satellite System (BDS) aboard a Long March-3A carrier rocket
from the Xichang Satellite Launch Center in the southwestern province of
Sichuan. It was also the 225th launch of the Long March carrier rocket.
(ii) The BeiDou system will be completed in 2020 and will
comprise over 30 satellites.
(iii) At present, BeiDou provides navigation services within
China and a few neighbouring regions.
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