GK & Current Affairs March 2016

Sun Pharmaceuticals has named Indian cricket team captain MS Dhoni as brand ambassador of its health supplement brand Revital H. 
•    Earlier, actor Salman Khan was its brand ambassador for Revital H. 
•    The drug major announced that Dhoni’s association will help the company to increase market presence in West and South India and has also repositioned the brand with a focus on active lifestyle. 
•    The vitamin and dietary health supplement market in India is estimated to be Rs 8,828 crore and growing at 12% with top 10 brands (of which Revital H is a part) in the category contributing almost 48% of the market revenues.
•    Dhoni is the only captain to lead India in more than 50 Tests. The next on the list in Sourav Ganguly with 49.

•    Dhoni is the most successful captain in the T20Is across countries.
•    Dhoni was conferred with the honorary rank of Lt Colonel by the Indian 

The Bank of Israel signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Reserve Bank of India.

•    The signing of the MoU is intended to strengthen the ties between the Reserve Bank of India and the Bank of Israel, and reflects the commitment of the authorities to the principles of consolidated supervision and cooperation among banking regulators.
•    The MoU was signed by Mrs. Parvathy V. Sundaram, Chief General Manager-in-Charge, Department of Banking Supervision on behalf of Reserve Bank of India (RBI), and Dr. Hedva Ber, Supervisor of Banks on behalf of the Bank of Israel.
•    As State Bank of India has a branch in Israel, the signing of the MoU is intended to strengthen the ties between RBI and BoI and promote the safe and sound functioning of that bank.
•    The Memorandum of Understanding also reflects the commitment of the authorities to the principles of consolidated supervision and cooperation among banking regulators.
•    The Banker’s Bank has entered into a MoU, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries to promote greater co-operation and share supervisory information. 
•    With this, the RBI has signed 32 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation.

Eight time Grammy Award-winning Brazilian percussionist, Nana Vasconcelos, died on 9 March 2016 in Recife, Brazil. He was 71.
•    He was known for his wide instrumental range and major role in free spirited jazz and world music of the 1970s and 1980.
•    He was a master of the single-string percussion instrument known in Portuguese as the berimbao (multi-toned Afro-Brazilian instrument).
•    The American jazz magazine DownBeat named Vasconcelos percussionist of the year every year from 1983 to 1991.
•    Nana who learnt music from his father and started playing drum kit at the age of 12 rose to prominence after he moved to Rio de Janeiro in the 1960s and started playing with Nascimento.
•    He is best known for collaborations with Brazilians Milton Nascimento and Egberto Gismonti, Argentine Gato Barbieri and Americans Don Cherry and Pat Metheny.

On 10 March 2016, The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, approved Pradhan Mantri Ujjwala Yojana.
•    The scheme seeks to provide free LPG connections to women from below poverty line (BPL) households
•    Under the scheme, a financial support of 1600 rupees will be provided for each LPG connection to the BPL households.
•    The identification of eligible BPL families will be made in consultation with the State Governments and the Union Territories.
•    This will benefit about 1 crore 50 lakh households below the poverty line in 2016-17.
•    It will be implemented at an estimated cost of 8000 crore rupees over three years between April 2016 and March 2019 to cover 5 crore BPL households.
•    There are serious health hazards associated with cooking based on fossil fuels. 
•    According to an estimate of the World Health Organisation (WHO), about 5 lakh deaths in India alone occur due to unclean cooking fuels.
•    Most of these premature deaths were due to non-communicable diseases such as heart disease, stroke, chronic obstructive pulmonary disease and lung cancer. 

On 9 March 2016 India and Bangladesh signed a 2 billion US dollar Line of Credit (LOC) to implement socio-economic development projects in Bangladesh and strengthen bilateral relations. 
•    The 2 billion US dollar LOC is the biggest credit line India has so far extended to any country.
•    The LOC agreement was signed in Dhaka, Bangladesh by Yaduvendra Mathur, Chairman & Managing Director, EXIM Bank, and Mohammad Mejbahuddin, Senior Secretary, Economic Relations Division, Ministry of Finance.
•    India first extended a LOC of 1 billion US dollars to Bangladesh in 2010.
•    The Second Line of Credit will fund social and infrastructure development projects in the power, railways, road, transport, information and communication technology, shipping, health and technical education sectors.
•    Projects covered under the first LOC of 862 million US dollars include Procurement of buses, locomotives, passenger coaches and other rolling stock, laboratory equipment.
•    It also included Construction of 2nd Bhairab and 2nd Titas Bridge, Khulna-Mongla port rail line, 3rd and 4th Dual Gauge track between Dhaka-Tongi section and doubling of dual gauge track between Tongi-Joydebpur, rehabilitation of the Kulaura-Shahbajpur section of Bangladesh Railway.

On 10 March 2016 The Union Cabinet gave its approval for entering into the Memorandum of Understanding (MoU) between India and the IMF for setting up of South Asia Regional Training and Technical Assistance Center (SARTTAC) in India.
The Cabinet also authorised the Finance Minister to approve related decisions in respect of India’s contribution for setting up of the centre, including Letter of Understanding for financial contribution by India, site of the SARTTAC etc.

It will be a collaborative venture between the International Monetary Fund (IMF), and 6 member countries belonging to South Asia.
•    It will help in capacity building of Government officials including State level in macro, fiscal, monetary policies by the IMF and greater coordination between the six member countries of South Asia.
•    The six member countries are India, Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka. 
•    Additional member countries could join SARTTAC at a later stage.
•    It will bring in the best practices from across the globe, as well as the South Asian region, resulting in innovative solutions to fiscal, monetary and financial issues and effective response through use of IT and innovative techniques.
•    It will enhance revenue mobilization and development of policies aimed at more effective public and financial management. 
•    This will result in economic development and inclusive growth in the country.

On 10 March 2016 The Indian Space Research Organization (ISRO) launched the country’s sixth Indian Regional Navigational Satellite System (IRNSS)-1F, on board the trusted launch vehicle PSLV C-32. 
•    The lift off took place from the second launch pad of the Satish Dhawan Space Centre(SDSC) SHAR, Sriharikotta, India’s spaceport at 4:01pm. 
•    XL version of PSLV was used in PSLV-C32 and it was the twelfth time that the 'XL' configuration was flown. 
•    The lift off mass of IRNSS – 1F is 1425 kg and the dry mass is 598 kg.
•    Its configuration is similar to that of IRNSS-1A, 1B, 1C, 1D AND 1E.
•    The two solar arrays of IRNSS-1F consisting of Ultra Triple Junction solar cells generate about 1660 watts of electrical power.
•    The Mission life of IRNSS-1F is 12 years
•    IRNSS-1F carried two types of payloads – navigation payload and ranging payload. 
•    This is India’s second mission in 2016, and the first one was also the successful insertion of an IRNSS-1E navigation satellite by PSLV C-31 on 20 January 2016. 
•    Other four IRNSS satellites which were launched are
•    IRNSS-1A Mission launched by PSLV C-22 in July 2013
•    IRNSS-1B Mission launched by PSLV C-24 in April 2014
•    IRNSS-1C Mission launched by PSLV C-26 in October 2014
•    IRNSS-1D Mission launched by PSLV C-27 in March 2015

Rajya Sabha on 8 March 2016 passed Bureau of Indian Standards Bill, 2015. The bill seeks to replace the Bureau of Indian Standards Act, 1986.
•    It extends the ambit of the Bureau of Indian Standards (BIS) to include services, processes and products while ensuring production of world class goods.
•    Union Cabinet Approved Bureau of Indian Standards Bill, 2015.
•    The Bill also proposes to make BIS a national standards body, introduce mandatory hallmarking of precious metals, prevent misuse of standard marks and provides for recall of ISI marked products not conforming to relevant standards. 
•    Now, the Bureau of Indian Standards would also get the legislative backing to formally represent India abroad.
•    At present, the BIS is not formally recognised as a national standards body of the country, though it has been representing India in various international bodies.
•    Earlier, the Bill was passed by the Lok Sabha on 3 December 2015.
•    The Bill was introduced in Lok Sabha on 7 August 2015 by Ram Vilas Paswan, the Union Minister of Consumer Affairs, Food and Public Distribution.

The legendary music producer George Henry Martin died on 8 March 2016. He was 90 years old.
•    George Martin was popularly known as the fifth Beatle as he signed the Beatles and became their indispensable mentor and collaborator.
•    He was an english record producer, arranger, composer, conductor, audio engineer, and musician.
•    He served as producer, collaborator and mentor to John Lennon, Paul McCartney, George Harrison and Ringo Starr of the Beatles.
•    During his six-decade career in the music industry, he produced almost all of the Beatles' recordings and also worked with Gerry & the Pacemakers, Jeff Beck, America, Cheap Trick and other acts.
•    He produced jazz, comedy and classical albums before signing the Beatles in 1962. The young band members were rough around the edges, but Martin was the first to saw their commercial promise.
•    Over the years, he helped score, arrange, and produce many of the band's biggest hits, including “Yesterday” and "Love Me Do."
•    His 1979 autobiography, All You Need Is Ears, chronicles his discovery of the Beatles and their creative process.
•    In 2006, working with his son, Giles Martin, he helped develop the Beatles-inspired Cirque du Soleil show "Love" in Las Vegas.
•    Between 1967 and 2007, he won 6 Grammy Awards in various categories.
•    In recognition of his services to the music industry and popular culture, he was made a Knight Bachelor in 1996.
•    He was named by the Guinness World Records as the most successful producer ever, with more than 50 No. 1 hit records over five decades in the USA and the UK alone.

Prime Minister Narendra Modi will inaugurate by remote control 100 mw power supply from Tripura's Palatana project to Bangladesh on March 23.
•    The same day Bangladesh Prime Minister Sheikh Hasina would provide 10 GB Internet bandwidth to India, Tripura Power and Communication Minister Manik Dey told reporters here today.
•    Dey said there would not be any formal function in the state to mark the occasion as the entire programme would be held through video-conferencing.
•    After the formal opening of international gateway of internet, Tripura will be third state which is having such gateway after Mumbai and Chennai. This will help the entire north eastern states, he said.
•    Telecom Minister Ravi Shankar Prasad had laid the foundation of the project in Agartala on July 13, 2015 that aims at strengthening telecom services in the north eastern states.
•    Under the project, an international gateway for broadband connectivity will be set up at Agartala in which connectivity will be provided through Bangladesh under an agreement between BSNL and Bangladesh Submarine Cable Company limited.
•    The cost of the project is Rs 19.1 crore and annual operational expenditure is around Rs 7.2 crore. The bandwidth of 10 GB can be extended up to 40 GB.
•    Meanwhile, pricing of one unit of power was fixed at Rs 5.5 in a meeting between Tripura Power Minister Manik Dey and Bangladesh Minister of State for Power Nasirul Hamid on January 9 last in Dhaka.
•    PGCIL erected 47 km long 400 kv double circuit transmission lines from Suryamaninagar powergrid near here to Comilla in Bangladesh.
•    The 726 MW gas based thermal power project at Palatana in Gomati district is run by ONGC Tripura Power Corporation (OTPC).