DAILY CURRENT AFFAIRS: 1 MAR 2018

    DAILY CURRENT AFFAIRS: 1 MAR 2018

(DAILY NEWS INDIA)

SHARED BY: WWW.DAILYGK.IN

                        

1.      CABINET APPROVES ESTABLISHMENT OF NATIONAL FINANCIAL REPORTING AUTHORITY 

i. The Union Cabinet approved establishment of National Financial Reporting Authority (NFRA) as an independent regulator for the auditing .

ii. It aims to tighten regulatory oversight over auditors and plug loopholes.

iii. It will be independent  for enforcement of auditing standards and ensuring quality of audits. The need for establishing NFRA was needed due to scams and to establish independent regulator.

2.      CABINET APPROVES FUGITIVE ECONOMIC OFFENDERS BILL, 2018

i. The Union Cabinet has approved introduction of Fugitive Economic Offenders Bill, 2018 in Parliament.

ii. The bill  aims to curb practice of evading criminal prosecution by economic offenders (wilful defaulters) who flee from country to evade clutches Indian law by remaining outside jurisdiction of Indian courts.

iii. Fugitive economic offender as any individual against whom warrant for arrest in relation to scheduled offence has been issued by any court in India, but he leaves or has left India to avoid criminal prosecution or  refuses to return to India to face criminal prosecution.

3.      SHAKTI STHALA: WORLD’S LARGEST SOLAR PARK LAUNCHED IN KARNATAKA...

i. The first phase Shakti Sthala solar park having total capacity of 2,000 megawatts (MW) was inaugurated in drought-prone Pavagada region of Tumkur district, Karanataka.

 ii. It is claimed to be world’s largest solar park.

4.      CORE SECTOR GROWS AT 6.7% IN JANUARY 2018...

i. The  index of eight core industries released by Ministry of Commerce and Industry, Core sector growth has grown at faster rate of 6.7% in January 2018 against 3.4% in January 2017. eight core sectors had grown by 4.2% in December 2017 and 7.4% in November 2017.

ii. The growth in eight core sectors slowed due to demonitisation and GST .

 iii. The growth in key sectors will have implications for Index of Industrial Production  as these eight segments account for about 41% of the total factory output.

5.      PAKISTAN ADMITTED  BEING ADDED TO GREY LIST OF FATF

i. Pakistan has confirmed that it will be added on ‘grey list’ of the Financial Action Task Force  in June 2018.Pakistan was on the FATF grey-list from 2012 to 2015.

ii. It will curbed  Pakistan’s economy and make it harder to meet its mounting foreign financing needs

iii. FATF aims to establish international standards for combating money laundering and terrorist financing.

OBJECTIVE QUESTIONS BASED ON TODAY’S NEWS

Q.1 CABINET APPROVES ESTABLISHMENT OF NATIONAL FINANCIAL REPORTING AUTHORITY. HOW MANY MEMBERS ARE THERE IN NFRA?
a)  3

b)  4
c)  5
d)  6

Q.2 WHICH STATE GOVERNMENT ANNOUNCED THE LAUNCH OF A 24-HOUR HELPLINE, CLAIMING TO BE THE FIRST IN INDIA, TO OFFER INFORMATION AND GUIDANCE ON EDUCATION TO STUDENTS?

a). Kerala

b). Karnataka

c). Delhi

d). Tamil Nadu

Q.3 IN WHICH STATE, THE WORLD’S LARGEST SOLAR PARK ‘SHAKTI STHALA’ WAS INAUGURATED?
a). Kerala
b). Rajasthan
c). Karnataka
d). Madhya Pradesh

Q.4  WHEN IS THE ZERO DISCRIMINATION DAY OBSERVED ALL OVER THE WORLD?
a).1st March
b). 2nd March
c). 3rd March
d). 4th March

ANSWERS:

1 - C    2 - D    3 - C    4 - A