Ministry of Defence signs ₹880 crore contract with Israeli Weapons Industries

INTERNATIONAL NEWS

Countries pledges to contribute to SAARC Coronavirus Emergency Fund

• The SAARC Coronavirus Emergency Fund was proposed by Prime Minister of India Mr. Narendra Modi with an initial offer of USD 10 million in a motive to help combat the fast spreading COVID-19 pandemic.
• Following India, Nepal and Bhutan has pledged to provide USD 100000 to the fund, and now Afghanistan and Maldives have joined them and proposed a contribution of USD 1 million and USD 200000 respectively.
• Bangladesh announced its contribution as USD 1.5 million.
• South Asian Association for Regional Cooperation (SAARC) was formed in 1985 is an inter-governmental organisation formed for the states of South Asia.
• FACT: Headquarters of SAARC – Kathmandu, Nepal.
• Member nations of SAARC - Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.

UN’s World Happiness Report 2020

• United Nations has released its report on the World Happiness measure by taking its 156 countries for the analysis.
• The 8^th edition of the Happiness report positioned India at the 144^th rank, while Finland tops the list for the third time.
• Following Finland, Denmark and Switzerland were placed at the second and third positions in the report.
• Afghanistan recorded as the least happy country in the world by the report.
• FACT: Headquarters of United Nations – New York, US
• Secretary General – Antonio Guterres

NATIONAL NEWS

Ministry of Defence signs ₹880 crore contract with Israeli Weapons Industries

• The Ministry of Defence has approved the acquisition contract of ₹880 crores with the Israeli Weapons Industries for the purchasing of 16,479 Negev 7.62X51 mm Light Machine Gun (LMG).
• This type of LMG is a combat-proven weapon introduced by Israeli Weapon Industry(IWI) in 2012.
• FACT: IWI was established in the year 1933, headquartered at Ramat Hasharon, Israel.
• Union Minister of state for Defence - Shripad Yesso Naik.

Chief Minister of Madhya Pradesh Mr. Kamal Nath resigns

• Chief Minister of Madhya Pradesh Mr. Kamal Nath has resigned ahead of the scheduled floor test ordered by the Supreme Court in the State Assembly.
• He submitted his resignation letter to the Governor of Madhya Pradesh Lalji Tandon at Raj Bhawan, Bhopal.

ECONOMIC NEWS

ICICI Lombard introduced ‘COVID-19 Protection cover’

• ICICI Lombard, a private sector non-life insurance company introduced a programme called “COVID-19 Protection Cover” for a period of 1 year at a premium of ₹149.
• This policy includes 100% sum of money insured to the person testing positive to COVID-19.
• The policy is introduced in the ICICI Lombard’s ethics of “Nibhaaye Vaade” meaning Keeping Promises, to introduce industry-first initiatives for its customers.
• FACT: Headquarters – Mumbai
• MD & CEO – Bhargav Dasgupta

Fitch Ratings – predicts India’s growth rate as 5.1% for FY 2021

• Fitch Ratings, a leading provider of credit ratings and researches has released its Global Economic Outlook 2020 recently.
• In which it has predicted India’s growth rate as 5.1% for the Financial Year 2020-2021, this being the result of the outbreak of COVID-19.
• FACT: Headquarters of Fitch Ratings – New York, USA

IMPORTANT DAYS

International Day of the Elimination of Racial Discrimination

• The International Day for the Elimination of Racial Discrimination is being observed every year on March 21^st to create awareness among the society about the cruel nature of Racial discrimination.
• The theme for the year 2020 is “People of African descent: recognition, justice and development.”
• This day is observed to commemorate the Sharpeville massacre on 21st March 1960.

International Day of Forests 2020

• The International Day of Forests is being observed every year on March 21^st to instil awareness among the people about the importance of trees and forests.
• Theme of the year 2020: “Forests and Biodiversity”
• United Nations General Assembly has proposed March 21^st to be observed as the International Day of Forests in 2012 and it is in effect from 2013.