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Major News and Events of 12 March 2016

What Happened on 12 March 2016

PM Modi stresses on Economic Reforms and Public Investment during Advancing Asia Summit

While speaking at Advancing Asia conference, co-hosted by Union Government and IMF, Prime Minister Narendra Modi has said that his government will keep pursuing reform agenda and stressed upon the fact that public investment is important for boosting growth, especially when private investment scenario remains weak. PM Modi also said that after taking certain steps entrepreneurship in India is booming. He expressed his pleasure as IMF decided to finalise next round of quota changes by October 2017. IMF MD Christine Lagarde called India a rare bright spot in the ongoing global economic gloom.

ED summons Mallya, SFIO extends Probe

Enforcement Directorate has summoned Vijay Mallya under Prevention of Money Laundering Act for questioning on March 18 over alleged Rs. 900 crore loan default case of IDBI Bank. Mallya, who is still taking shelter in UK country home, hasn’t responded to the summon yet and is reportedly seeking legal opinion. Reports say CFO of now defunct Kingfisher Airlines Ltd - A. Raghunathan – and President & CFO of UB Group - Ravi Nedungadi have been questioned by the ED sleuths. Meanwhile, SFIO (Serious Frauds Investigation Office) has issued notice to 17 companies that borrowed money from banks and in turn lent to Kingfisher Airlines.

JNU's Interim Poll panel submits Final Report, Ends Suspension of 8 Students

Jawaharlal Nehru University’s High-Level Enquiry Committee, investigating the alleged ‘anti-national’ activities and sloganeering within JNU campus has submitted its final report. Reports say that the suspension against the 8 students (Kanhaiya Kumar, Anirban Bhattacharya, Umar Khalid, Aishwarya Adhikari, Shweta Raj, Anant Prakash Narayan, Rama Naga, and Ashutosh Kumar) has not been revoked. JNU sources say that the final report doesn’t actually give a clean chit to the students and has recommended punishment and fines for some.

Vishy stuns Vaselin Topalov in First Round of Candidates Tournament

Grandmaster Viswanathan Anand, five-time world champion, has proved his detractors wrong by winning first round of Candidates tournament. Defying the popular expectation, Vishy defeated Bulgaria’s Veselin Topalov. The experienced Indian grand master started off with Ruy Lopez chess opening, which is also called Spanish Opening. Topalov came back well with a taboo pawn sacrifice. In middle of the game, Vishy went pawn grabbing but Topalov missed the bishop sacrifice, making a costly fiasco. Anand took 45 moves to win the game.

Delhi Govt mulls idea of launching App-based Bus Service

Delhi Government, in an attempt to strengthen public transport service in the national capital, is planning to announce a fleet of app-based bus service. Reports say that the contract carriage buses may well come under app-based bus service's ambit. A senior government official said that these app-based buses will be provided "special permit". Routes of these buses will be prepared shortly and will benefit the office goers.  Passengers will be able to locate the buses that are going towards their destinations.

IMF MD and FM Jaitley signs MoU to set up South Asia Regional Training and Technical Assistance Center

Finance Minister Arun Jaitley has signed a MoU with Managing Director of International Monetary Fund (IMF) Christine Lagarde to set up a regional training and technical assistance centre in Delhi. South Asia Regional Training and Technical Assistance Center (SARTTAC) will train officials and also enhance capacity development so that they can effectively deal with macro-economic as well as financial issues. Reports say that SARTTAC will act as the focal point to plan, coordinate, and implement capacity development activity of IMF in South Asian region.

FAQs and Answers on Indian History and Geography
Which Indian state is the largest producer of bauxite?The state of Odisha is the largest producer of bauxite in India. India has abundant resources of bauxite and serves as a raw material in the production of aluminium. As per the report of the Ministry of Mines, India stood at the 7th position in… Read More...
Which Indian city is famously known as the "Manchester City of India"?The city of Ahmedabad in the Gujarat state is famously known as the "Manchester City of India". This name was given to this city by a popular textile center in the Manchester of Great Britain, adhering to the striking similarities of Ahmedabad's prospering cotton textile… Read More...
Which Indian state is the largest producer of coffee?Karnataka state is the largest producer of coffee in India. The state contributed about 70% of the total production of coffee in India during 2016-17 with 2.33 lakh MT coffee production. The main variety of coffee grown in Karnataka is Robusta, but the state also… Read More...

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