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Major News and Events of 19 March 2016

What Happened on 19 March 2016

Andhra Pradesh Government launches High Speed but Affordable Broadband Service

Andhra Pradesh Chief Minister N Chandrababu Naidu launched Fiber Grid project’s first phase, as a part of Digital India campaign that strives to provide internet connection to all households. During the event in Visakhapatnam, AP government signed Memorandum of Understanding with Cisco. By April 2016, internet connections at affordable rate will be provided in Vizianagaram, Srikakulam, and Visakhapatnam districts of Andhra Pradesh. 15Mbps broadband connection will be available for offices at Rs. 999 per month and for households Rs. 149 per month.  

Government instructs PSU Banks to Accelerate Recovery Process

Union government has asked PSU banks to accelerate debt recovery process. A recently circulated Finance Ministry note has asked chiefs of PSU banks to take immediate steps against the guarantors if there are no chances of default loan recovery. Government has advised the PSU banks to consult RBI, use Indian Contract Act, and move Debt Recovery Tribunal for attachment of pledged assets of the guarantor of a default loan holder so that some of the bad debt can be recovered.

Government heavily slashes Post Office Small Savings Schemes

Union government has heavily slashed interest rates of multiple small savings schemes, to be effective from April 1, 2016, to June 30, 2016. Interest rates will now be revised after every 3 months. Worst hit schemes are Kisan Vikas Patra (8.7 to 7.8 per cent), 5 years Senior citizens savings scheme (9.3 to 8.6 per cent), Sukanya Samriddhi Account (9.2 to 8.6 per cent), PPF (8.7 to 8.1 per cent), 5 years MIS (8.4 to 7.8 per cent), and others. Economic Affairs Secretary Shaktikanta Das said the rates have been brought down to make them more market aligned.

Nehwal and Prannoy reach Semis of $120,000 Swiss Open Grand Prix Gold Badminton

Saina Nehwal and HS Prannoy entered semi-final matches of women’s and men’s singles events respectively of $120,000 Swiss Open Grand Prix Gold Badminton yesterday. While Saina took 52 minutes to defeat Sayaka Sat of Japan (13-21, 21-15, 21-14), HS Prannoy took almost an hour to defeat Tanongsak Saensomboonsuk of Thailand (21-18, 22-24, 21-9) match. Saina will now take on China’s Wang Yihan and Prannoy will play against Chinese Taipei’s Tzu Wei Wang in their respective semi final matches.

Cisco commits Investment of $100 over 2 years in India

Cisco, networking behemoth of the US, has pledged investing US $100 million in India over a period of 18 months to 24 months. Reports say US $ 40 million will be invested for training around 250,000 students by the year 2020 and also to fund companies in their early/growth stages. The Cisco announcement, made during presence of Executive Chairman John Chambers, said that rest $60 million will be invested to open 3 centres of expertise and 6 new innovation laboratories.

Defence Minister says Make in India a Priority for Indian Defence

While speaking at the opening day of Cognizance 2016 (a three-day technical festival at IIT Roorkee), Defence Minister Manohar Parrikar said that preparedness of Indian military is paramount to the government and for that adequate equipment is required. He emphasised that requirement for equipment will fall into place when Make in India becomes fully functional. He assured that during defence procurement, Make in India vision will be given due priority. Parrikar reminded about Pathankot Air base terror attack and the need to step up defence preparedness.

FAQs and Answers on Indian History and Geography
Which is the longest National Highway in India?Previously known as National Highway 7, National Highway 44 (NH 44) is the longest-running National Highway in India. It is 3,745 km long and covers the North-South Corridor of NHDP. It starts from Srinagar in the north and ends in Kanyakumari in the south. NH-44… Read More...
Which Indian state is the largest producer of silk?Karnataka is the largest producer of silk in India. The state produces an average of around 8,200 metric tonnes of silk every year, which is about one-third of the total silk production in India. Up to November 2017, Karnataka has produced 5,962 metric tonnes of… Read More...
Which is India's poorest state? As per the National Family Health Survey 2015-16 (NFHS-4), Bihar is India's poorest state with 43 percent incidence of Multidimensional Poverty (MDP) and having more than 50% households in the bottom wealth quintile. Despite India being… Read More...

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