1. Andrew Holness sworn in as Jamaica’s PM
(i) Recently, Andrew Holness was sworn in as the new Prime Minister of the Jamaica. Holness, a former education minister and member of the Jamaican Labour Party has promised to create jobs, boost the economy and improve education and healthcare.
(ii) In the election that concluded recently Holness defeated, Jamaica’s first female head of government Portia Simpson Miller.
(iii) Among the various challenges that the newly elected PM will be dealing with the most urgent are rising unemployment and economic debt of the nation.
2. Construction of Europe’s biggest floating solar farm underway in UK
(i) As per recent reports, the biggest floating farm in Europe is being constructed in UK on a reservoir.
(ii) More than 23,000 solar photovoltaic panels have been laid on the surface of the Queen Elizabeth II reservoir near Walton-on-Thames, Surrey.
(iii) The solar farm is expected to generate 5.8 million kilowatt hours of electricity in a year and will be of the size of eight football pitches. As per a statement by Thames Water, construction of the solar farm will be competed by the end of March 2016.
3. South Korea passes its first anti-terrorism bill
(i) South Korea recently passed its first anti-terror bill after opposition members delayed the vote for nine days with speeches and discussions. Nearly, 160 parliament members voted for the bill, with one voting against it.
(ii) President Park Geun-hye’s government called for the bill’s speedy passage, citing threats from North Korea following its recent nuclear test and rocket launch. The anti-terror bill empowers the country’s spy agency to wiretap phone conversations and collect personal information of suspects.
(iii) It also calls for the establishment of an anti-terror centre tasked with implementing security measures for major state events and issuing terror advisories.
4. SBI among 4 new foreign banks allowed to operate in Myanmar
(i) India’s State Bank of India along with three other banks, which are the Vietnam’s Bank for Investment and Development, Taiwan’s E.SUN Commercial Bank, South Korea’s Shinhan Bank have been given the initial approval by the Central Bank of Myanmar to open 100 per cent-owned branches in Myanmar.
(ii) This move by Myanmar government is aimed at attracting investment in its country, which was under military rule for decades and impacted by western sanctions as well.
5. Capital Area Bank first entity to receive small finance bank licence
(i) As per recent development, a Jalandhar based local bank, Capital Local Area Bank became the first entity to receive the Reserve Bank of India’s licence to start operations as a small finance bank.
(ii) In a statement, managing director of Capital Local Area Bank, Sarvjit Singh Samra said, “It plans to start small finance bank operations on April 13… It plans to open 10 new branches on the first day.”
(iii) In addition the bank plans to have over 200 branches and a total business of Rs 11, 800 crore in the next five years. In its first five years the bank will focus on the northern region.
6. HDFC Bank extends Rs.450 crore loan to Flipkart
(i) Private sector lender HDFC Bank has extended Rs 450 crore loan to India’s largest online marketplace Flipkart.
(ii) The agreement to this effect was inked on February 23, through Flipkart India, which is one of the two key entities that controls the e-tailer’s Indian operations.
(iii) The reasons for securing the credit from HDFC has not been specified by the company however as per bankers, small and large companies borrow credit from banks for short-term operational needs, especially when raising fresh capital may take more time.
7. Flipkart to launch online wallet Flipkart Money
(i) Flipkart recently announced that it is all set to launch a digital wallet called Flipkart Money, which will help in cutting costs related to handling cash on product returns, in addition to offering users a new payment method.
(ii) The wallet has been launched on the company’s Android app, wherein users can hold a balance of Rs.10,000 at a time. Consumers can utilise the wallet for purchases of a maximum of Rs.25,000 a month using their credit cards, debit cards or net banking.
(iii) ‘Flipkart Money’ will enable people to enjoy the benefits of single-click payments, cash backs and discounts.
8. Reliance Jio to provide free Wi-Fi at 6 stadiums for T20 World Cup
(i) Mukesh Ambani-owned Reliance Jio is set to offer free Wi-fi services during the T20 World Cup across 6 stadiums in the country.
(ii) As per the company statement, the services which are offered as JioNet, will be available for the spectators at the the cricket matches in Ferozshah Kotla in Delhi, Eden Gardens in Kolkata, Wankhede Stadium in Mumbai, Chinnaswamy Stadium in Bengaluru and cricket stadiums in Dharamshala, and Mohali.
9. India beats Bangladesh, clinches 6th Asia Cup T20 trophy
(i) In the recently concluded Asia Cup T20, India bagged the T20 Asia Cup trophy for a record sixth time defeating Bangladesh. Due to unexpected rainfall and thunderstorm, the match was reduced to 15-over-per side after a two-hour delay.
(ii) Indian team scored 122 runs for 2 wickets in 13.5 overs defeating Bangladesh which chose to bat first, and scored 120 for five in 15 overs.
(iii)The impressive performance by Shikhar Dhawan who scored 60 and Virat Kohli’s 41 not out, set the tone for India’s victory.
(iv) After the fall of Dhawan, skipper Dhoni sealed the match in his own style scoring a 20 in 6 balls, clinching India’s 6th T20 Asia cup trophy.
11. Indian bags two gold at World Table Tennis Team championship
(i) In a first, the Indian men’s and women’s table tennis teams clinched gold medals at the World Table Tennis Team championship in Kuala Lumpur.
(ii) The indian women’s team beat Luxembourg 3-1 in the event final of the Second Division, the Men overcame Brazil 3-2. This happened to be also the first time that the women’s team kept a clean slate – eight wins – in the first and the second stages.
(iii) With this india is confirmed its entry in the Champions Division last night after reaching the finals. The Champions Division event will be played in 2018.
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