CURRENT AFFAIRS 13TH MARCH

Axis Bank Names Rakesh Makhija As New Chairman

Axis Bank has appointed Rakesh Makhija as Non-Executive Chairman for a period of 3 years. The 67-year-old, who has served as an independent director on the lender’s board since October 2015, will take over from Sanjiv Misra when his term ends on July 17. Makhija is also the Chairman of the bank’s Nomination and Remuneration Committee.

Sebi Lifts Foreign Investment Cap On Corporate Bonds

Markets regulator Securities and Exchange Board of India (Sebi) withdrew the 20% limit on investments by Foreign Portfolio Investors in corporate bonds of an entity. The regulator stated that the restriction is being withdrawn in accordance with a circular issued by the Reserve Bank of India (RBI).

In June 2018, Sebi had mandated that no Foreign Portfolio Investors (FPIs) shall have an exposure of more than 20% of its corporate bond portfolio to a single corporate. However, the central bank in February 2019 lifted the restriction in view of market feedback.

Turmeric from Erode, Tamil Nadu gets GI tagged after an 8-year process

On 6th March 2019, Geographical Indication (GI) tag was granted by the Geographical Indication Registry to Erode turmeric after a process spread over 8 years. The cultivar is known as Erode local (Chinnanadan).

Unique features of Erode Turmeric:

Average length of the fingers of turmeric is approximately 4.15 cm and average circumference is 3.03 cm. The average bulb length of the mother rhizome is about 4.54cm and the average circumference is 6.54c. It consists of 2.5-4.5% curcumin, has a golden yellow colour and is resistant to pests after boiling.

Delhi Government Sets-Up High-level Committee To Reform Higher Education

A 17-member high-level committee has been constituted by the Delhi government’s Dialogue and Development Commission (DDC) to “reform higher education” in the city.

The committee will be headed by Jasmine Shah, the vice-chairperson of Dialogue and Development Commission (DDC). It will “recommend goals, metrics, policies, and actionable plans for reforming Delhi’s higher education system within a year”. Nalanda 2.0 which is a non-profit policy think tank with a “mission of making India’s higher education system world class” shall act as the knowledge partner to Dialogue and Development Commission (DDC).

C Lalsawta Sworn In As Mizoram’s 1st Lokayukta Chairman

C Lalsawta was sworn-in as the first Chairman of the newly-constituted Lokayukta in Mizoram at the Raj Bhawan, Aizawl.

The oath was administered to him the Governor of Mizoram- Jagdish Mukhi. The Chief Guest of the function was Lalnunmawia Chuaungo, the Chief Secretary of the state. C Lalsawta is an IAS officer from 1981 batch of Bihar cadre. He had served as the Principal Secretary of Finance Department of Mizoram from 2008 to 2011 and later served as the Vigilance Commissioner of Bihar till 2015.

All England Open Badminton Championships 2019: Complete List of Winners

2019 All England Open, officially YONEX All England Open Badminton Championships 2019 was a BWF World Tour 1000 event which took place at Arena Birmingham in England from 6 to 10 March 2019. It had a total purse of $1,000,000.

Here is the complete list of Winners of All England Open Badminton Championships 2019:

Sl. No. Event Winner Runner Up
1. Men’s Singles Kento MOMOTA (Japan) Viktor AXELSEN (Denmark)
2. Women’s Singles CHEN Yufei (China) Tai Tzu-ying (Taiwan)
3. Men’s Doubles Mohammad Ahsan and Hendra Setiawan (Indonesia) Aaron Chia and  Soh Wooi Yik (Malaysia)
4. Women’s Doubles Chen Qingchen and Jia Yifan (China) Mayu Matsumoto and Wakana Nagahara (Japan)
5. Mixed Doubles Zheng Siwei and Huang Yaqiong (China ) Yuta Watanabe and Arisa Higashino (Japan)

 

NCLT Clears ArcelorMittal’s Rs 42,000-crore Bid To Take Over Essar Steel

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the Rs 42,000-crore resolution plan submitted by ArcelorMittal for the debt-ridden Essar Steel Ltd. The tribunal’s approval for the mega-deal has come 583 days after it started the insolvency proceedings, instead of the mandated 270 days.

ArcelorMittal’s takeover proposal for the indebted steel-maker was approved by the Essar Steel’s Committee of Creditors last October and it was pending before the NCLT for approval since then.

Vice President’s Visit To Paraguay And Costa Rica: Complete Highlights

The Vice President of India, M. Venkaiah Naidu visited the Republic of Paraguay and the Republic of Costa Rica. This was the first high-level visit from India to both these countries. He was accompanied by a high-level delegation including the Minister of State for Tourism (I/C), Alphons Kannanthanam, the Members of Parliament and senior officials from the Government of India.

Visit To Paraguay:

The Vice President met with the President of the Republic of Paraguay, Mr. Mario Abdo Benítez, the Vice President, Mr. Hugo Velázquez, and the President of the National Congress (Senate), Mr. Silvio Ovelar. He also addressed the India-Paraguay business forum and interacted with the Indian Diaspora in Paraguay.

Visit To Costa Rica:

The visit of Vice President to the Republic of Costa Rica was the first ever high-level visit from India to the nation. The Vice President met the President of Costa Rica, Mr. Carlos Alvarado Quesada and held Delegation level talks with him which was followed by a joint press statement. The Vice President was also conferred an Honorary Doctorate by the University for Peace founded by the United Nations.

4th Internet of Things India Congress To Be Held In Bengaluru

The 4th IoT India Congress, an event which will see digital technology leaders converge to discuss and explore business opportunities in mainstreaming Internet of Things (IoT), will be held in Bengaluru in August 2019.

The IoT India Congress 2019 will include tracks on segments such as healthcare, manufacturing, telecom, smart cities, energy, retail, cybersecurity, skills and development, IoT Standards, legal and regulatory, and agriculture.


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