Daily Current Affairs – 15 March 2019

Daily Current Affairs 15 March 2019: We have collected the latest current affairs for 13 March 2019 that are important for all competitive exams like bank, ssc, ibps, sbi exams. The GK current affairs will help you score more in these competitive exams. Improve your general knowledge with our daily online current affairs. You can also read the current affairs on our mobile app.

Current Affairs 15 March 2019

RBI brings new tool for Liquidity management – USD/INR Buy/Sell Swap auction

  • The Reserve Bank of India has announced that to inject Rupee liquidity for longer duration into Indian economy it will launch a new liquidity management toolkit on March 26, 2019. The tool is USD/INR Buy/Sell swap auction that will take place on March 26, 2019.
  • Under this scheme, the bank (commercial banks) will sell US Dollars to the Reserve Bank of India, and Reserve Bank of India will in return credit the bank with equivalent  Rupee funds. In this way, liquidity of Rupee will increase in the system.
  • The tenor of the Buy/Sell swap auction is 3 years. RBI will buy USD 5 billion under this auction.
  • After 3 years, Banks will return the Rupee funds will to the Reserve Bank along with the swap premium to get the US Dollars back.
  • Minimum bid by the Banks: USD 25 million and in multiples of USD 1 million thereafter.

RBI fixes Trade Credits limit under automatic route

  • The Reserve Bank of India has revised the Trade Credit Policy that governs the External Commercial Borrowings (ECB) and Trade Credits. As per the revised guidelines the new the Trade Credits (TC) that importers can raise under the automatic route (without intervention of RBI) is: 
  • For import transaction for oil/gas refining & marketing, airline and shipping companies: Upto USD 150 million or equivalent per import transaction. 
  • For others: up to USD 50 million or equivalent per import transaction. 
  • The All-in-cost ceiling per annum has been reduced to Benchmark Rate + 250 bps from Benchmark Rate + 350 bps.
    • What is Trade Credits (TC): Trade Credits (TC) refer to the credits extended by the overseas supplier, bank, financial institution and other permitted recognised lenders for maturity, for imports of capital/non-capital goods permissible under the Foreign Trade Policy of the Government of India.
    • All-in-Cost: It includes rate of interest, other fees, expenses, charges, guarantee fees whether paid in foreign currency or INR. 

President Kovind Inaugurates Festival of Innovation and Entrepreneurship in Gandhinagar

  • The President of India Shri Ram Nath Kovind inaugurated FINE 2019, the Festival of Innovation and Entrepreneurship, in Gandhinagar, Gujarat on March 15, 2019.
  • On the occasion, President Kovind also presented the 10th Biennial National Grassroots Innovation Awards.
  • The four day event is being hosted outside Rashtrapati Bhavan for the first time since its establishment in 2000, with the assistance of Department of Science and Technology, Government of India.
  • The Festival is unique initiative of the Office of the President of India to recognize, respect and reward grassroots creativity, innovation and entrepreneurship and provides a platform for the innovators to build linkages with potential stakeholders and get support in improving their prospects in coming years for the larger social good.

India – Africa Joint Field Training Exercise AFINDEX-19 to Begin From March 18 in Pune

  • The India-Africa Joint Field Training Exercise (AFINDEX-19) will be held between the Indian Army and 16 African nations in Pune from March 18 to 27.
  • The 10-day long joint exercise will be held in two locations in Pune. They are Foreign Training Node at Aundh Military Station and College of Military Engineering in Kirkee.
  • Indian Army will be represented by the personnel of Maratha Light Infantry.
  • Besides, the personnel from the participating nations of African continent, officers from Rwanda, Democratic Republic of Congo and Madagascar would also attend the exercise as Observers.
  • The aim of the exercise is to train the participating contingents in Humanitarian Mine Assistance (HMA) and Peace Keeping Operations (PKO) under the United Nations Charter. 

India’s Padmanaban Gopalan Wins Commonwealth Youth Awards for Asian Region

  • Tamil Nadu based social entrepreneur, Padmanaban Gopalan, was awarded the Commonwealth Youth Award worth 3,000 pound for the Asian region on March 13, 2019 in London for his technology-based food rescue organisation.
  • Padmanaban Gopalan is the founder of ‘No Food Waste’, that works with volunteers and local authorities to collect excess food from functions and restaurants and delivers them to “hunger spots” mapped by the company to feed hungry people.
  •  The 26 year old was selected from over 500 nominations received from over 45 Commonwealth countries.

Vienna Tops Mercer’s Quality of Living Rankings for 10th Successive Year

  • The 2019 Quality of Living Rankings was released by the global consulting firm Mercer on March 13, 2019.
  • The Survey ranks 231 cities based on 39 factors and is based on the analysis done between September and November 2018.
  • The Austrian capital Vienna topped the ranking for the 10th year in a row for having the highest quality of living. It was followed by Zurich at second while Auckland, Munich and Vancouver shared joint third.
  • The Indian city in the list includes Chennai (105), Bengaluru (149), Mumbai (154) and New Delhi (162).

World Consumer Rights Day: March 15

  • World Consumer Rights Day is celebrated on March 15 every year to raise global awareness about consumer rights and needs.
  • The theme for World Consumer Rights Day 2019 is “Trusted Smart Products”.

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