Daily Current Affairs Updates | 18th March 2016 Current Affairs

Current Affairs

National Current Affairs

  • Andhra Pradesh Chief Minister N Chandrababu Naidu today launched India’s first state-wide broadband project called AP FiberNet.
  • The Supreme Court today allowed the use of pictures of Chief Ministers, Governors and Cabinet ministers in the government’s media advertisements.
  • The SC had earlier ruled that the advertisements could only have pictures of the President, Prime Minister and the Chief Justice of India.
  • The conference will bring together Community Radio Operators, policy makers, Ministries, Departments, International bodies like UNICEF and UNESCO and other stakeholders for exchange of ideas and cross learning.
  • The Indian Air Force today demonstrated its combat and fire power capabilities as part of the mammoth Exercise Iron Fist 2016.
  • The exercise was witnessed by President Pranab Mukherjee, the supreme commander of India’s armed forces, and Prime Minister Narendra Modi, in the deserts of Pokhran, Rajasthan.
  • Punjab’s Assembly today unanimously passed a resolution against construction of the proposed Sutlej-Yamuna link canal.

New Agreements

  • India has entered into a social security agreement with Australia.
  • Under this agreement, employees of India deputed to Australia and vice versa will not have to make double social security contribution.
  • Note : With this, Australia has become the 14th country with which India has a social security agreement in force.
  • The others in the list include Korea, Finland, Sweden, Czech Republic, Hungry, Germany, France, Belgium, Netherlands, Luxembourg, Denmark, Norway and Switzerland.
  • India signed loan agreement of 35 Million dollars with the world bank for Madhya Pradesh citizen access to responsive services project.
  • The objective of the project is to improve access and quality of public services in the state.

New Appointments

  • Bangladesh Government has appointed Former Secretary of Finance Division Fazle Kabir as the new Governor of Bangladesh Bank, country’s central bank.
  • He will succeeds Atiur Rahman who had resigned after taking moral responsibility over the cyber theft from the central bank’s official account with New York Federal Reserve Bank.
  • Times Internet, Times of India Group’s digital wing today appointed former Chief Operating Officer, Gautam Sinha as its new Chief Executive Officer (CEO).
  • Note : Former CEO Satyan Gajwani has been promoted as the company’s Managing Director.
  • Ace fashion designer Ritu Beri has been appointed as the advisor for Khadi promotion.
  • AirAsia India appoints Amar Abrol as new CEO to replace Mittu Chandilya

Business & Economy

The RBI has relaxed its norms for banks holding bonds of debt-ridden State Electricity Boards (SEBs).

Banks have reportedly been allowed to keep Ujwal Discom Assurance Yojana (UDAY) bonds under the Held-To-Maturity (HTM) category.

HTM refers to a part of debt holdings which are not subjected to daily price movement and can be held by banks till maturity.

The interest rate on Public Provident Fund (PPF) was cut from 8.7% to 8.1% today.

Important Note : The government also slashed interest rates on several other small savings schemes, including that of the Kisan Vikas Patra from 8.7% to 7.8% and the 5-year senior citizen scheme from 9.3% to 8.6%.

Awards & Honors

  • Advisor to the Chairman of multinational group LVHM Moët Hennessy Louis Vuitton, Tikka Shatrujit Singh was today conferred the Knight of the Legion of Honour, France’s highest honour, by French Ambassador François Richier in New Delhi.
  • Singh was accorded the top honour for his “extraordinary work in exchanging the French lifestyle and Indian culture with each other”.
  • Science & Technology
  • China is building a tsunami alert centre in South China Sea.
  • Russia has slashed its space budget for 2016 to 2025 by 30%, from 2 trillion rubles ($29.24 billion) to 1.4 trillion rubles ($20.68 billion).
  • It will delay a manned flight to the moon by five years, and eliminate plans to develop a reusable rocket.
  • The move comes as Prime Minister Dmitry Medvedev said, “all is not well with the economy.”


  • New Zealand’s Martin Guptill became the 4th highest six-hitter with a total of 73 in T20Is, after hitting four in his 39-run innings against Australia in the World T20 today.
  • Guptill is now level with Australia’s David Warner.
  • He has also registered the highest number of sixes in 2016 in T20Is with 20 against his name so far.