Current Affairs of 4th March 2016

Daily Current Affairs contains all major news that occurs National and International Level.It will helpful for those students who are preparing for Bank Exams- IBPS/SBI/PO/Clerk exam , SSC Exams and all other competitive exams .

Current Affairs of 29 february 2016

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1. PM Narendra Modi launches Setu Bharatam Project
1. Prime Minister Narendra Modi has launched Setu Bharatam Project to make all national highways free of railway crossings by 2019. This project will be implemented by the Union Ministry of Road Transport and Highways.
2. 208 places have been identified for construction of rail over-bridges (ROB) or underpasses under the project. Around 1,500 bridges that are over 50 to 60 years old or of the British era will be overhauled and will be rebuilt. More than 50 thousand crore rupees will be spent on the project. 
3. Union Ministry of Road Transport and Highways already has launched an Indian Bridge Management System to map 1,50,000 bridges across the country. So far inventory of 50,000 bridges has been prepared under it and the first cycle of condition survey will be completed by June 2016.

2. Manoj Kumar to be honoured with Dadasaheb Phalke award
1. Veteran actor Manoj Kumar, best known for his patriotic films Purab Aur Paschim, Upkar and Kranti, will be conferred the Dadasaheb Phalke award for his contribution to the film industry.
2. The actor became the 47th recipient of the award, the highest recognition in Indian cinema, which consists of a golden lotus, a cash prize of Rs 10 lakhs and a shawl.
3. Kumar was born as Harikrishna Giri Goswami in Abbottabad, which was then a part of pre-independent India.
4. He initially started as a romantic hero following his debut in 1960 with Kaanch Ki Gudia but later shifted focus to acting and directing films with patriotic themes so much so that fans started calling him ‘Bharat Kumar’.

3. Flipkart launched its own digital wallet Flipkart Money
1. Flipkart  launched its own digital wallet Flipkart Money that can be used for Flipkart only transactions.
2. It aims to have a more organized method of payment and cutting significant costs related to handling cash on product returns.
3. Flipkart Money was launched on the company's Android app, where users can hold a balance of 10000 rupees at a time.
• Cash can be withdrawn from the wallet to the cards or the bank account.
• Money is part of Flipkart Wallet, which includes the biggest seller on Flipkart, WS Retail Credit, gift cards and other bank cards saved on the online retailer's platform.For the first time, Flipkart tried to enter the e-wallet market in 2011 but due to RBI regulations, it was only able to hold transactions for WS Retailers only. Once again, it tried launching its own e-wallet in July 2013 by the name PayZippy, but proved to be unsuccessful when applied for the license. It was shut down in November 2014.

4. Union Government signed Agreement to provide a loan of 1000 crore rupees to FACT
1. Union Government  signed a memorandum of agreement (MoA) to provide a loan of 1000 crore rupees to the Fertilizers and Chemicals Travancore (FACT) Limited, a Central Public Sector Undertaking (CPSU).
As per this MoA, FACT will be getting a loan of 1000 crore rupees, to be repaid with interest within a period of five years, with a moratorium of one year.
2. The loan will be provided with an aim to revive the organisation which has been facing financial crunch for more than a decade.  This loan will ease its liquidity crisis. The new resources will be helpful in clearing long pending dues of the Company, and facilitate much needed working capital, as well as for augmenting production.
3. This will help FACT to maintain production at optimum level on a sustainable basis in the coming years.The company is initiating steps to enhance the production capacity of Factamfos by setting up a new stream of production of 1000 tonnes per day at FACT’s Cochin Division at Ambalamedu in Kochi.

5. National Safety Day and National Safety Week observed
1. National Safety Day was observed across India on 4 March 2016. The day is annually organised by the National Safety Council (NSC) to commemorate its establishment and enhance the safety awareness among people. 
2. It is a national movement carried out on annual basis to prevent and lessen the loss of life including various human being problems and their financial loss through availing them with safety, health and environment related support services.
3. National Safety Council of India is a self-governing body (non profit and nongovernmental organization for public service) which was established on 4 March 1966 under the Societies Act in Mumbai, having over 8000 members. 

6. Former Lok Sabha speaker P.A. Sangma passes away
1. Former Lok Sabha Speaker Purno Agitok Sangma died of heart attack here on Friday. He was 68.Lok Sabha Speaker Sumitra Mahajan announced the news of his death in the House, which was adjourned for the day.
2. Sangma was a nine-time member of the Lok Sabha and the Speaker in the 11th Lok Sabha. He had also held important portfolios in the Union government.He was also the Chief Minister of Meghalaya from 1988 to 1990 and Leader of the Opposition in the Assembly from 1990 to 1991.

7. Legendary film archivist P.K. Nair passes away
1. P.K. Nair, founder director of the National Film Archive of India (NFAI), Pune, is no more. He was 86.
2. Paramesh Krishnan Nair, who had dedicated his life to preservation of films and building the collection of films at the NFAI, was instrumental in archiving several landmark Indian films like Dadasaheb Phalke's Raja Harishchandra and Kaliya Mardan, Bombay Talkies films such as Jeevan Naiya, Bandhan, Kangan,Achhut Kanya and Kismet, S.S. Vasan's Chandralekha and Uday Shankar's Kalpana.
3. Mr. Nair joined the Film and Television Institute of India (FTII), Pune as a research assistant in 1961 and went on to play a key role in the setting up of the NFAI in 1964. He was appointed assistant curator in 1965, and continued with the NFAI till 1991 and, by the time he retired as NFAI director, he had acquired a whopping 12,000 films for the archive. Of these, 8,000 were Indian and the rest foreign films.

8. Jitu Rai wins Gold medal in 50m pistol event at ISSF World Cup
1. Ace Indian shooter Jitu Rai has won Gold medal in the 50m Pistol Men final event at the International Shooting Sports Federation (ISSF) World Cup held in Bangkok, Thialand. He won the medal by scoring 191.3 points in the final round and beating two of the strongest members of the Chinese Olympic team, Pang Wei and Wang Zhiwei.
2.  Chinese shooter Pang won the Silver medal with 186.5 points, while his teammate Wang Zhiwei won the Bronze medal with 165.8 points. This win is considered as a stage of success for Jitu Rai, who is the winner of the 2014 Asian Games. He is currently ranked 5th in the world in the 50m Pistol Men’s event.

9. Indian-American Sunil Sabharwal took charge as Alternate Executive Director at IMF
1. Sunil Sabharwal, an independent Indian-American investor took charge as Alternate Executive Director at International Monetary Fund (IMF). He took the charge after his appointed was confirmed by the US Senate. Earlier he was re-nominated to this key post at IMF by US President Barack Obama. 
2. With this he becomes first Indian-American to occupy a key administration post at the IMF. The post of Alternate Executive Director us one of the most powerful position in the IMF considering the 16.81 per cent voting share (highest) of US in the total IMF voting share.

10. World’s most expensive train station opened in New York at 9/11 site
1. The world’s most expensive train station opened at the 9/11 site in New York, United States. It has been named World Trade Center Transportation Hub. It is built next to the site of the Twin Towers in New York which were destroyed in the terror attacks in 2001.
2. The station was constructed at whooping cost of 3.85 billion dollars making it most expensive station in the world. It has been designed by the Spanish-Swiss architect Santiago Calatrava who has called it a gift of love to the city. The station building is called Oculus and made up of steel ribs and glass laid out in elliptical shape, reaching for the sky like wings of a bird.

11. Punjab becomes seventh state to join UDAY 
1. Punjab has become the seventh state today to join UDAY scheme meant for the revival of discoms that will help it save Rs 5,475 crore in the next three years under the programme. 
2. Centre is expecting Jammu & Kashmir to formally join UDAY next week as the state has already finalised the terms of the agreement for the scheme. 
3. The other two states, which can sign the formal agreements this month to join the scheme are Andhra Pradesh and Haryana. 

4. Uttar Pradesh, Bihar, Rajasthan, Gujarat, Jharkhand and Chhattisgarh have already signed the agreement to join UDAY scheme. Under the scheme, the reduction in the aggregate technical and commercial and transmission losses to 14 per cent and 2.5 respectively in next three years would result in additional revenue of around Rs 1,600 crore.