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Current Affairs March 16, 2020


Current Affairs Headlines: March 16, 2020
1. Government proposed masks & hand sanitizers under Essential Commodities Act 1955
2. CRPF signs MoU with Aditya mehta foundation to train its specially-abled troops in areas of
cyber security & AI
3. Phool Dei festival was celebrated in Uttarakhand
4. RBI revises exposure limits for urban cooperative banks to single, group borrowers
5. Justice Bansi Lal Bhat got appointed as officiating chairperson of NCLAT for 3 months
6. Shardul Thakur appointed as brand ambassador of Tata Power
7. HIL (India) Limited launched Customer Payment Portal

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NATIONAL AFFAIRS
Government proposed masks & hand sanitizers under Essential Commodities Act 1955
On March 13, 2020, the government amended Essential Commodities (EC) Act, 1955 to declare 2 ply & 3 ply
surgical masks, N95 masks & hand sanitizers as Essential Commodities up to 30th June, 2020 to ensure that
these products are available in the market at the right price given the outbreak of coronavirus & also has a
measure to manage it.

Key Points:
i.It also issued a consultation under the Legal Metrology(LM) Act,2009 that under EC law, after consultations
with manufacturers, states can ask them to increase the production capacity of these products & streamline the
supply chain, while states can ensure the sale of both products under MRP under the LM Act.
ii.Under the EC Act, the powers of the Central government have been already vested in the states
iii.Therefore the States /Union Territory(UT)s under EC Act can punish offenders with imprisonment up to 7
years or a fine or both & under Prevention of Black Marketing and Maintenance of Supplies of Essential
Commodities Act, 1980 (PBMMSEC), can detain for a maximum of 6 months.
iv.This will enhance the availability of both the items to the general people at reasonable prices or under MRP.
v.States are advised to advertise the state helplines to record consumer complaints of the 2 products,
Consumers can register their complaints in National Consumer Assistance Number 1800-11-4000.
Gist about Acts
EC Act, 1955:
In 1955 the Central government enacted this act to regulate the production, supply & delivery of bulk products
& make them available to consumers at reasonable prices. The list of 7 items under the Act include Drugs,
Fertilizer, Foodstuffs including edible oilseeds & oils, Hank yarn made wholly from cotton, Petroleum,
petroleum products, Raw jute & jute textile. If needed, new items can also be added by the center, when the
situation improves, they can be taken off the list.
LM Act, 2009:
It is implemented with effect from 1st April, 2011 it establishes and enforces the standards of weights &
measures, regulate the trade & commerce in weights, measures & other goods sold or distributed by weights,
measures or numbers, & for such related or incidental purposes.
PBMMSEC Act, 1980:
It provides the legislative & administrative foundation to control hoarding & black-marketing of essential
commodities. State/UT advised now & then to take appropriate action against hoarding & black-marketing & to
effectively enforce the acts.

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CRPF signs MoU with Aditya mehta foundation to train its specially-abled troops in areas of
cyber security & AI
On March 13, 2020, The Central Reserve Police Force (CRPF), India’s largest Central Armed Police Force, has
signed an Memorandum of Understanding (MoU) with Aditya Mehta Foundation (AMF),a non-profit
organization which aids people with disabilities to pursue sports, to train its 189 CRPF personnel who had lost
their limbs in operations in areas of cyber security, artificial intelligence (AI) and paralympic sports.
Key Points:
i.The agreement,signed in the presence of CRPF’s Director General (DG) AP Maheshwari, will help create newer
opportunities for such personnel to continue as the integral part of the force.
ii.The initiative also comes as a big boost for the CRPF personnel who had lost their limbs or undergone
amputation over the past 10 years.
iii.During the event,The CRPF Chief Maheshwari also handed over job appointment letters to a family member
of 20 CRPF personnel who had lost their lives in the line of duty or operations. Companies including Wipro,
Toyota, Dream Studio, Virtusa & Garcorp provided the offer letter to the beneficiaries.
About Aditya Mehta Foundation (AMF):
Headquarters– Secunderabad, Telangana
About Central Reserve Police Force (CRPF):
Headquarters– New Delhi
Motto– Service and Loyalty
Preceding agency– Ministry of Home Affairs
Minister responsible– Amit Shah, Union Minister of Home Affairs

Phool Dei festival was celebrated in Uttarakhand


On March 14, 2020 Uttarakhand Chief Minister (CM) Trivendra Singh Rawat celebrated the traditional
harvest festival “Phool Dei”. The festival also showcases the inner bonding between the communities who all
are residing in the hills.
Key Points:
i.About Phool Dei festival: It is the harvest festival of Uttarakhand that is celebrated in the month of Chaitra
(March- April) in the Hindu Calendar.
ii.On this traditional festival young girls pluck the first flowers of the season to decorate their houses with
flowers and the term ‘Dei’ refers to ceremonial pudding which is the key food in the festival that is made from
jaggery, Whiteflour & curd, are offered to everyone.
iii.In some places the festival is celebrated throughout the month with the advent of spring.
About Uttarakhand:
Capital- Dehradun (Winter capital), Gairsain (Summer capital).
Governor- Baby Rani Maurya.

BANKING & FINANCE


RBI revises exposure limits for urban cooperative banks to single, group borrowers
On March 13, 2020, Reserve Bank of India (RBI) has revised exposure limits for urban cooperative
banks (UCBs) of tier-1 capital to a single borrower to 15% and a group of borrowers to 25%. The revised
exposure limits shall be applicable to all types of fresh exposures taken by UCBs.
• The RBI had earlier permitted UCBs to have exposures up to 15% and 40% of their capital funds to a
single borrower and a group of borrowers, respectively.
Key Points:
-UCBs shall have at least 50% of their aggregate loans and advances comprising loans of not more than Rs 25
lakh or 0.2% of their tier 1 capital, whichever is higher, subject to a maximum of Rs 1 crore, per borrower.
-The RBI also increased the overall priority sector lending (PSL) target for UCBs to 75% of adjusted net bank
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credit (ANBC) or credit equivalent amount of off-balance sheet exposure (CEOBSE), whichever is higher
from 40% earlier.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, N S Vishwanathan (will retire on March 31, 2020), Mahesh
Kumar Jain, Michael Debabrata Patra)
About UCBs:
A cooperative bank located in urban/semi-urban centre is known as Urban Cooperative Bank (UCB).
Establishment as per RBI Act- Large cooperative banks with paid-up share capital and reserves of Rs. l lakh
were brought under the preview of the Banking Regulation Act 1949 with effect from 1st March, 1966.

APPOINTMENTS & RESIGNATIONS


Justice Bansi Lal Bhat got appointed as officiating chairperson of NCLAT for 3 months
On March 14, 2020, According to the Ministry of Corporate Affairs, Government of India (GoI), Justice
(Retd.) Bansi Lal Bhat has been appointed as the officiating Chairperson of the National Company Law
Appellate Tribunal (NCLAT) for a period of 3 months with effect from March 15, 2020 or until a regular
Chairperson is appointed, whichever is earlier. The first Chairperson of NCLAT, Justice SJ Mukhopadhaya has
retired on March 13,2020.

Key Points:
i.The government has also appointed Justice (Retd.) Anant Bijay Singh as a Judicial Member of NCLAT & Ms.
Shreesha Merla and Mr. Alok Srivastava as Technical Members.
ii.Prior to this appointment, Justice Bansi served as a Member (Judicial) of NCLAT for 2-years. He also worked
as judicial member of the Armed Forces Tribunal and as a Judge of the Jammu & Kashmir High Court (HC).
iii.Bansi’s appointment has been made under the Rule 10(1) of the Tribunal, Appellate Tribunal and other
Authorities (Qualifications, Experience, and other Conditions of Service of Members) Rules, 2020.
About National Company Law Appellate Tribunal (NCLAT):
It adjudicates issues relating to Indian companies.
Headquarters– New Delhi
Act– Companies Act 2013.

Shardul Thakur appointed as brand ambassador of Tata Power


Indian cricketer Shardul Thakur appointed as the brand ambassador of Tata Power, the largest power
generation company in India which aims to provide uninterrupted power supply from its various plants located
across India. This is his 1st major commercial endorsement & the campaign featuring him does have a
significant presence in digital, radio & outdoors.
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About Tata Power:


Headquarters- Mumbai. India
Chief Executive Officer (CEO) & Managing Director(MD)- Praveer Sinha

SCIENCE & TECHNOLOGY


HIL (India) Limited launched Customer Payment Portal
On March 13, 2020 HIL (India) Limited, Department of Chemicals & Petrochemicals, in association with Union
Bank of India launched Customer Payment Portal in New Delhi to collect the payment from the customers
through various online modes for fast & smooth collection of dues. It is introduced to speed up the
Government’s vision of ‘Digital India’.
Key Points
i.This portal enables HIL customers to quickly & conveniently pay their outstanding debts from their homes or
offices using any debit card, credit card, net banking, UPI or online wallet.
ii.It is a 1 step platform which facilitates online payment, data maintenance, customize MIS report & seamless
reconciliation of financial records.
iii.It is launched by HIL (India) Limited’s Chairman & Managing Director (MD)– Siba Mohanty (S.P)
Prasad, Director of Finance- Anjan Banerjee, Head of Government Business Department- R. K. Jaglan &
Regional Head Delhi South of Union Bank of India- G. K. Sudhakar Rao
Gist about HIL(India) Limited:
On March 1954 it was incorporated in order to start production of Dichlorodiphenyltrichloroethane (DDT) for
the National Malaria Eradication Programme.It is a Central Public Sector Enterprises(CPSE) under the
Ministry of Chemical & Fertilizers & is formerly known as Hindustan Insecticides Limited.
Headquarters– New Delhi, India

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