Daily Update On Current Affairs – March 26, 2017

Current Affairs

Here’s your daily summary of Current Affairs.

Indian Navy Successfully Test Fires Barak Missile
From INS Vikramaditya

Indian Navy successfully conducted maiden test of short range surface-to-air Barak missile from country’s sole aircraft carrier INS Vikramaditya. The test was conducted in the Arabian Sea where the missile was fired against a live, low-flying, high-speed target. The missile successfully engaged and destroyed the target, validating operational readiness inspection of the Western Fleet of the Indian Navy.

Recommendations Of
Law Commission Against Hate Speech

The Law Commission of India (LCI) in its 267th Report has laid out that bare the danger of hate speech to the Union Government and called for action from the government and Parliament. It held that hate speech has the potential to provoke individuals and society to commit acts of genocides, terrorism and ethnic cleansing. The Supreme Court of India in 2014 had referred to the Law Commission for means to arm the Election Commission to crack down on hate speech. 
Key Facts: In its report, the commission has cautioned the government that hate speech is considered outside the realm of protective discourse and has urged for the expansion of the penal law against hate crimes. It held that indisputably, offensive hate speech has real and devastating effects on people’s lives and risks their health and safety. It is also harmful and divisive for communities and hampers social progress. If left unchecked, it can severely affect right to life of every individual.

Reserve Bank Of India
Directs All Banks To Function On All Days Including Holidays Till 1st April

The Reserve Bank of India has instructed all nationalised as well as private banks to function on all days from 25th March to 1st April. The RBI in a notification stated yesterday that the direction aims to ease the banking functions related to the government while the financial year is nearing an end. The order is applicable to all Banks including Government establishments with financial services.

SEBI Bans Reliance Industries And 12 Other Entities From Equity
Derivatives Trading For One Year

The Securities and Exchange Board of India (SEBI) has banned Reliance Industries and 12 other entities from equity derivatives trading for one year. In an order issued yesterday, SEBI also directed the Mukesh Ambani-led firm to forfeit almost 1,000 crore rupees for unlawful gains made through alleged fraudulent trading in a nearly 10-year-old case. The case relates to alleged fraudulent trading in the futures and options (F&O) space in the securities of RIL’s erstwhile listed subsidiary Reliance Petroleum Ltd.

Karnataka Bank
Launches Rupay International Platinum Debit Card

Mangalore based Private Sector Bank Karnataka Bank has launched an International Rupay Platinum Debit Card for its Platinum High Networth Individuals. The called “Money Plant” can be used for both international and domestic purchases and cash withdrawals. Upto Rs 75000 cash withdrawals and Rs 2 lacs purchases per day can be made using this card. The card also carries a Personal Accident Insurance coverage of Rs 2 lacs.

US President
Donald Trump’s Health Care Bill Collapses In House Of Representatives

US President Donald Trump has withdrawn his healthcare bill after it failed to gain enough support to pass in Congress. The House of Representatives withdrew the American Health Care Act after a rebellion by Republican moderates and the party’s most conservative lawmakers left them short of votes. The Republican party enjoys a simple majority in the House with 235 members. However, due to opposition from some of its own party lawmakers, it could not muster the majority of 215 votes needed. Democrats were unified against it. With the withdrawal, Democratic former President Barack Obama’s signature domestic policy achievement, the 2010 Affordable Care Act – known as Obamacare – remains in place. Mr Trump expressed his disappointment and surprise and blamed the Democrats for not supporting the bill.

Make In India Conference Held In Houston

The first Make In India Conference overseas was held in the US City of Houston, Texas on March 25,2017. It was hosted by the Asia Society Texas Centre. 
Theme: The theme of the conference was “Make In India- The Inside Story”.

French Mathematician
Yves Meyer Wins 2017 Abel Prize

French mathematician Yves Meyer has won the prestigious 2017 Abel Prize for his pivotal role in the development of the mathematical theory of wavelets (small waves or ripples). His theory is used for applications ranging from image compression to the detection of gravitational waves from the merging of black holes. It also allowed scientists to create unique wavelet transforms suited to specific signals.
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