GK & Current Affairs March 2016

 On 3 March 2016 World's most expensive train station, the World Trade Centre Transportation Hub, opened in New York city.
•    Santiago Calatrava, the Spanish-Swiss architect who unveiled his ambitious design 12 years ago, removed a barrier at the entrance of the Oculus, a giant oval hall with walls of steel ribs and glass.
•    Built next to the site of the destroyed Twin Towers, the World Trade Centre Transportation Hub is expected to eventually serve more than 200000 daily commuters.
•    Initially budgeted at 2 billion US dollars, the station ended up costing 3.85 billion US dollars that earned it the title of the most expensive station in the world.
•    The building has an elliptical shape. The space measures 107 metres long by 35 metres at its widest point.
•    The September 11 attacks were a series of four coordinated terrorist attacks by the Islamic terrorist group Al-Qaeda on the United States on the morning of Tuesday, September 11, 2001. The attacks consisted of suicide attacks used to target symbolic U.S. landmarks.

 South Korea passed anti-terror law that was first proposed 15 years ago. The law was first set on the floor February 23.
•    156 members of the ruling Saenuri Party voted approval, while 1 opposed out of 157 present. 
•    The anti-terror law was first proposed back in 2001 following the September 11 terror attacks. It had been put in motion multiple times since, but always failed to reach a vote due to strong opposition from NGOs and opposition parties.
•    The anti-terror law, once in effect, will give power to the National Intelligence Service (NIS), South Korea's counterpart to the CIA, to collect data on terror suspects' private information, location, and IT use. 
•    Those who form a "terror organisation" can face capital punishment, life imprisonment, or over 10 years incarceration.
•    Those who plan an act of terror faces life imprisonment or over 7 years incarceration
•    Those who join a foreign terrorist group face over 5 years imprisonment.
•    Supporting terrorists -- those who hide information or provide financial support to terrorism -- face a maximum 10-year prison sentence or a fine of 100 million won ($82,000).

 Film Actor and Director Manoj Kumar will receive the 47th Dadasaheb Phalke Award for the year 2015.
•    Jury consisting of Lata Mangeshkar, Asha Bhosle, Salim Khan, Nitin Mukesh and Anup Jalota unanimously recommended Kumar for the prestigious Award.
•    He is remembered for his films Hariyali Aur Raasta, Woh Kaun Thi, Himalaya Ki God Mein, Do Badan, Upkaar, Patthar Ke Sanam, Neel Kamal, Purab Aur Paschim, Roti Kapda Aur Makaan, and Kranti. 
•    He is known for acting in and directing patriotic films .
•    He has won National Film Award for the film Upkaar. 
•    In 1992, he was honoured with Padma Shri by the Government of India.
•    The award is given by the Government of India for outstanding contribution to the Indian Cinema. 
•    The Award consists of a Swarn Kamal, a cash prize of 10 lakhs rupees and a shawl.
•    The 46th Dadasaheb Phalke Award was awarded to the veteran actor Shashi Kapoor for the year 2014.

 On 4 March 2016 Indian shooter Jitu Rai clinched the 50m pistol gold at the ISSF World Cup in Bangkok. 
•    The gold medal winner scored 191.3 points in the final round.
•    Former World and Olympic champion Pang Wei of China took second place with 186.5. 
•    Olympic medallist Wang Zhiwei finished third at 165.8 points.
•    Jitu beat China's former World and Olympic Champion Wei to second place, shooting 191.3 to Pang's 186.5.
•    India's Prakash Nanjappa shot 549 in the qualification round to be placed 17th.
•    Jitu Rai is the current 50m pistol gold medallist at both the Commonwealth Games and the Asian Games, winning the championships in 2014.
•    Jitu reached the final by finishing third at the end of the 60-shot qualifying series with a score of 562. 
•    Wei led the field of eight top qualifiers with a score of 564, while Wang followed him in second place with 563.

The multinational Military Exercise Force Eighteen conducted by Indian Army has started in at Pune, Maharashtra. 
•    In this seven-day military exercise, over 300 participants from 18 ASEAN countries are participating. 
•    Participating countries ASEAN countries along with ASEAN Plus nations (India, Australia, Japan, New Zealand, China, South Korea, Russia and US). 
•    10 ASEAN countries from South East Asia are Brunei, Cambodia, Laos, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. 
•    Exercise Force Eighteen is the largest multinational ground forces exercise to be conducted on Humanitarian Mine Action (HMA) and Peace Keeping Operations (PKO). 
•    It is conducted by India as part of its ambitious Look East policy and it is one of the largest multi-national military exercises conducted in the country. 
•    Indian Army contingent of 40 soldiers is being led by Lt. Colonel Sofia Qureshi. 
•    She is the first women officer to lead Indian contingent in such exercise. 

International Cricket Council (ICC) has suspended South Africa left-arm spinner Aaron Phangiso from bowling in Domestic cricket for suspect bowling action. 
•    He was suspended after ICC’s Panel of Human Movement Specialists found that his bowling deliveries exceeded the 15 degrees’ level of tolerance permitted under ICC regulations.
•    The tests were conducted after he was reported for suspect action in February 2015. 
•    Till now Phangiso has played 16 one-day internationals (ODIs) and 9 T20s for South Africa.
•    In Shoaib Akhtar, December 1999, the Rawalpindi express was banned from bowling after he was reported during a Test series against Australia.
•    In December 2005, Shabbir Ahmed was banned for 12 months after being reported during a Test match against England.
•    In September 2014, Saeed Ajmal was banned with immediate effect after the ICC’s Human Movement Specialists found all his deliveries exceeding the 15-degree limit which is permitted under the regulations.

A team of refugees will compete alongside athletes representing their home countries at the Summer Olympics in Rio de Janeiro.

•    The team will likely number between five and 10 athletes.
•    "By welcoming the team of Refugee Olympic Athletes to the Olympic Games Rio 2016, we want to send a message of hope for all refugees in our world," IOC President Thomas Bach said in a statement.
•    These refugee athletes will be welcomed to the Olympic Games with the Olympic flag and with the Olympic Anthem. 
•    They will have a home together with all the other 11,000 athletes from 206 National Olympic Committees in the Olympic village.
•    Along with athletic prowess, potential team members will be assessed by "official refugee status verified by the United Nations, and personal situation and background."
•    According to U.N. globally there are 20.2 million refugees. 
•    It includes 5.1 million registered refugees in camps in the Middle East, and an additional 15.1 million "refugees of concern."

The Reserve Bank of India (RBI) on Tuesday relaxed norms relating to the treatment of certain balance-sheet items, including property, which will help banks unlock capital totalling about Rs. 40,000 crores.
•    The revised RBI norms will give public sector banks (PSB) access to additional capital of INR 35,000 crore.
•    Banks have now been allowed to include some items, such as property value and foreign exchange, for calculation of Tier 1 capital (CET1), instead of Tier 2 capital, according to the daily.
•    State Bank of India (SBI) will be one of the biggest beneficiary from the change in the carrying amount of a bank’s property on the balance sheet, as it has huge real estate across the country, says the paper.
•    As per the new RBI norms, CET1 capital, comprising paid-up equity capital, statutory reserves, capital reserves, other disclosed free reserves (if any) and balance in P&L Account must be at least 5.5 per cent of risk-weighted assets.

On 29th February 2016 Country's largest commodity exchange, Multi Commodity Exchange of India Ltd (MCX), appointed Mrugank Paranjape as its Managing Director and Chief Executive Officer.
•    He will remain at this position for a period of three years.
•    Mrugank Paranjape has been with Deutsche Bank since last 14 years.
•    Currently he is the India Head of Deutsche Bank.
•    He has also served as the Asia Pacific Head of Trust & Securities Services/Cash Management for Financial Institutions and Regional Head of Securities for The Global Network Banking Division, Deutsche Bank (Malaysia) Berhad.
•    MCX is an independent commodity exchange based in India.
•    It was established in 2003 and is based in Mumbai.
•    In 2009, it was the world's sixth largest commodity exchange.
•    It is India's No. 1 commodity exchange with 84% market share in 2014-15.

On 1st March 2016 Cabinet Committee on Security cleared the proposal to acquire two more Phalcon Airborne Early Warning and Control Systems (AWACS). 
•    These surveillance aircraft will be bought with 7500 crore rupees under a tripartite agreement with Israel and Russia.
•    The decision to this effect was taken ahead of Prime Minister Narendra Modi’s visit to Israel later in 2016. 
•    PM Modi will be the first Indian PM to visit Israel.
•    AWACS are advanced radars mounted on an aircraft to give 360-degree coverage to detect incoming aircraft and missiles at long ranges. 
•    It can help monitor the military build-up, troop and aircraft movements nearly 200 km while flying.
•    India had procured three Phalcon AWACS, Israeli radars mounted on Russian IL-76 transport aircraft, in 2003 at cost of 1 billion dollars. 
•    These 3 AWACS were included in Indian Air Force in January 2009.