Current Affairs 29 February - 01 March, 2020


1. Sri Lankan Government decided not to sign the Millennium Challenge Corporation (MCC) with the US Government.

  • The Sri Lankan government has decided not to sign the $480 million Millennium Challenge Corporation (MCC) agreement with the US, taking into consideration the recommendations of a Committee that found some of its features threaten national security and welfare of the island nation.
  • The four-member Committee headed by Professor Lalithasiri Gunaruwan, which submitted its interim report to President Gotabaya Rajapaksa last week, said there were clauses and conditions in the agreement that would negatively affect national goals and objectives, sovereignty, and national security, and were inconsistent with the legal framework and Constitution.

Foot Notes
About Sri Lanka
Capitals: Sri Jayawardenepura Kotte • Colombo
President: Gotabaya Rajapaksa
Prime Minister: Mahinda Rajapaksa
Currency: Sri Lankan rupee

About United States
Capital: Washington, D.C.
President: Donald Trump
Currency: United States dollar

2. FM (Finance Minister) Nirmala Sitharaman launched EASE 3.0 for tech-enabled banking.

  • Finance Minister Nirmala Sitharaman, launched the EASE (Enhanced Access and Service Excellence) 3.0 reform agenda. EASE 3.0 agenda aims at providing smart, tech-enabled public sector banking for aspiring India.
  • This launch of EASE 3.0 would change the customer's experience at the Public Sector Banks (PSBs).The Ministry has the idea of establishing paperless and digitally-enabled banking at places where people visit the most.

3. Steve Smith Replaced Virat Kohli to regain top spot in ICC Test rankings.

  • Australia run-machine Steve Smith surpassed Indian captain Virat Kohli to reclaim the No.1 Test batsman.
  • Kohli dropped 5 points after a poor outing in both the innings of the Wellington Test.
  • Virat Kohli has now slipped to No. 2 in the ICC rankings for Test batsmen with 906 points. Steve Smith leads Kohli by 5 points.

Foot Notes
About ICC
Founded: 15 Jun 1909
CEO: Manu Sawhney
Chairman: Shashank Manohar

4.  Forest Man of India & environmentalist Padma Shri “Jadav Payeng” honoured with 6th Swami Vivekananda Karmayogi Award 2020.

  • On February 29, 2020 Forest Man of India & environmentalist Padma Shri “Jadav Molai Payeng” is honoured with the 6th annual Swami Vivekananda Karmayogi award 2020 for his consistent efforts in creating a man made forest through afforestation. The award comprises of a trophy, a recitation & a reward of Rs 1 Lakh . He is also a forest worker from the missing tribe from Jorhat, Assam.
  • The award ceremony is organised by My Home India in New delhi &Union Minister of Environment, Forest and Climate Change Prakash Javedar handed over the award. Karmayogi award is presented to recognize extraneous achievement towards development of the North east region of India.

Foot Notes
Ministry of Environment and Forests: Mr.Prakash Javdekar
About Jadav Payeng:
A) He planted & tended trees on a sandbar of the Brahmaputra River & turned it into forest. The forest is called Molai forest after him.
B) In 2015, he was honoured with Padma Shri, the fourth highest civilian award in India.
C) He is scripting a new conservation story – a book on the protection of the environment.

5. SEBI’s chairman Ajay Tyagi gets six-month extension.

  • Chairman of Securities & Exchange Board of India (SEBI)Ajay Tyagi gets a 6 month extension from the government, whose tenure of 3 years (from 2017) to end on February 29, 2020. He is an Indian Administrative Officer (IAS) of the Himachal Pradesh Cadre.
  • His chairmanship of SEBI is been extended according to Sub-Section (1)(a) and Sub-Section (4) of Section 4 of the SEBI Act, 1992 (15 of 1992), read with Rule 3 of the SEBI (Terms and Conditions of Service of Chairman and Members) Rules, 1992.
  • His predecessor UK Sinha was also given multiple extensions & remained chairman for 6 years (2011-2017), even though his appointment period is for 3 years.
  • The post as SEBI’s Chairman has always been given to bureaucrats, especially IAS officers, except on one occasion when former LIC chairman GN Bajpai became the chairman in 2002.
  • The candidates for regulatory top post will be shortlisted by  the Financial Sector Regulatory Appointments Search Committee (FSRASC) & headed by the Cabinet Secretary.

Foot Notes
About SEBI
Established In:1992
Headquarter: Mumbai,India
Chairperson: Mr Ajay Tyagi

6. Rare Diseases Day was observed on February 29, 2020.

  • Rare Disease Day (RDD) is an observance held on the last day of February. This year marked the 13th observance of International Rare Disease Day, which was observed on February 29, 2020. The day creates an awareness of rare diseases and improves access to treatment and medical representation for individuals with rare diseases & their families.
  • Slogan of RDD 2020: “Rare is Many. Rare is Strong. Rare is Proud”.
  • Rare disease is also called an orphan disease or disorder that affects a small percentage of the population. The day was established & celebrated since 2008 by the European Organisation for Rare Diseases (EURODIS) to spread awareness for unknown or overlooked illness.

Foot Notes

Founded: 1997
Headquarters location: Paris, France
President: Yann Le Cam

7. RBI approved appointment of  "Sumant Kathpalia" as MD &CEO of IndusInd Bank.

  • The Reserve Bank of India(RBI) has approved the appointment of Sumant Kathpalia as Managing Director(MD) and Chief Executive Officer(CEO) of private sector lender IndusInd Bank for three years, which is effective from March 24, 2020.
  • He is the successor of Romesh Sobti.

Foot Notes
About IndusInd bank:
Headquarters: Pune,Maharastra
Owner: Hinduja Group
Founder: S. P. Hinduja

About RBI:
Founded: 01 Apr 1935
Governor: Shaktikanta Das

About IndusInd Bank
Headquarters: Mumbai, India

8. Samsung Mobile became India’s most desired brand for the fourth time.

  • Korean electronics giant Samsung has trumped competitors to emerge at the top in TRA Research’s Most Desired Brands list for India. The company bagged three ranks in the top 10.
  • Its mobile phones grabbed the number one spot for the second time in a row. Samsung’s diversified consumer electronics division was placed at the third spot in the Top 20 list. it also bagged the seventh spot in the televisions category.
  • Samsung had also led TRA’s Most Desired list in 2013, 2015 and 2018. Apple’s iPhone jumped one rank over the previous year to secure the second place among this year’s most desired list.

Foot notes
About Samsung
Founder: Lee Byung-chul
Founded: 1 March 1938, Seoul, South Korea
Headquarters: Seoul, South Korea

9. Bharti AXA General Insurance  has started using  WhatsApp to deliver policy and renewal document.

  • Bharti AXA General Insurance has started delivering policies and renewal premium to its customers through messaging platform WhatsApp. It plans to sell private cars, two-wheelers and travel insurance through a WhatsApp chatbot soon.
  • The company is the first among non-life insurers in India to introduce the entire bouquet of service initiatives such as policy documents, renewal notices and claim intimation for its customers by using WhatsApp chatbot.
  • With this innovative servicing platform, the customers can also avail assistance for various queries or service requests through the chatbot.

Foot notes
About Bharti AXA General Insuarance
CEO: Sanjeev Srinivasan
Headquarters: Mumbai
Founded: 2008
Parent organizations: Bharti Enterprises

10. Two-days Unique "Nimad Chilli Festival 2020" Organised at Khargone district of MP.

  • A two day unique initiative “Nimad Chilli Festival 2020” organised by  Madhya Pradesh Government begins at Kasrawad in Khargone district, Madhya Pradesh(MP) on 29th February & 1st March 2020.The aim of this festival is to promote Chilli production & Chilli based industries in the state & especially to promote Nimari brand of chillies in India & abroad. This festival is locally called ‘Mirch Mahotsav’.
  • The festival is a big opportunity for traders, investors, exporters & scientists  as there will be Lectures, workshops, Seminars about new development in chilli farming & opportunities in chilli based Industries, & agriculture exhibition will also be showcased.

Foot Notes
About Madhya Pradesh
Capital: Bhopal
Chief Minister: Kamal Nath
Governor: Lalji Tandon

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