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1. Former CAG Vinod Rai to chair Banks Board Bureau
1. Moving ahead with banking sector reforms, the government has appointed former Comptroller and Auditor General of India Vinod Rai as the Chairman of the Banks Board Bureau.
2. The panel will advise the government on top-level appointments at public sector lenders and ways to address the bad loans problem among other issues.
3. Besides, ICICI Bank’s former Joint Managing Director H N Sinor, Bank of Baroda’s former CMD Anil K Khandelwal and rating agency CRISIL’s former chief Rupa Kudwa have been appointed as members.
2. Govt to mobilise Rs 10 lakh cr investment under Sagarmala
1. Under its ambitious Sagarmala project, the government is looking to mobilise at least Rs 10 lakh crore investment, including Rs 4 lakh crore in the infrastructure sector alone.
2. Sagarmala is a project unveiled by the Narendra Modi government that aims to accelerate economic development by harnessing the potential of India's 7,500 km coastline.
3. The project holds significance in the wake of maritime logistics being an important component of the Indian economy accounting for 90 per cent of EXIM trade by volume and 72 per cent of EXIM trade by value.
4. Meanwhile, the government has sought comments from various stakeholders on the national perspective plan of Sagarmala under which it has identified about 150 projects.
5. Of the 150 projects, 40 are related to ports modernisation while 10 are community development projects.
3. Ratan Tata invests in home rental startup NestAway
1. Top industrialist Ratan Tata has invested an undisclosed amount in home rental company NestAway Technologies .
2. This is Tata's eighth personal investment in a startup in 2016 so far. He has invested in over 20 startups.
3. NestAway turns unbranded, unfurnished houses into fully furnished and managed apartments and provides them at affordable prices to verified tenants, said the statement by IDG Ventures India, which is an investor in the company.
4. So far, the startup has provided quality rental homes to about 5,000 tenants across six cities.
5. The company has raised over USD 13 million in capital in two rounds from marquee investors, including IDG Ventures India, Tiger Global, Flipkart and entrepreneur Naveen Tewari.
4. Government comes out with draft norms for Euro VI emission standard
1. After having decided to move up directly to Euro VI emission norms for petrol and diesel from April 1, 2020, the government has come out with draft rules on emission standards for various categories of vehicles.
2. Specifying mass emission standards for Bharat Stage VI (BS-VI) for various category vehicles including those with a gross vehicle weight not exceeding 3,500 kg, manufactured on or after April 1, 2020 for all models, the government has sought suggestions or objections, if any,within a month.
3. The draft of certain rules aims at amending the Central Motor Vehicles Rules, 1989, which the central government proposes to make in exercise with the powers conferred on it under the Motor Vehicles Act, 1988.
4. The government in January has decided to leapfrog directly from Euro IV emission norms for petrol and diesel to Euro VI standards, and the oil PSUs will invest Rs 28,750 crore for the transition.
5. Kerala Tourism’s Muziris Heritage Project inaugurated by President Pranab Mukherjee
1. President Pranab Mukherjee inaugurated Kerala Tourism’s Muziris Heritage Project (MHP) at Trissur in Kerala.
2. The project is India’s largest heritage conservation project and Kerala Government’s first green Project.
3. Muziris is the hub of the spice route and the bustling port of the first century BC that drew legions of Arab, Roman, Greek, Chinese and Jewish traders from across the seas. Its launch will unveil the history and heritage of Muziris described by Roman Naturalist Pliny the Elder as India’s first emporium
4. Featuring a host of initiatives including museums and a number of heritage sites, MHP, supported by the Union Government will conserve and showcase the culture of 3000 years or more for posterity.
The project gains added significance due to its close link with the Spice Route initiative launched by Kerala Tourism with the support of UNESCO to revive Kerala’s age-old trade ties with 41 countries of the world.
6. 28 February: National Science Day
1. In India February 28 is celebrated as the National Science Day i.e. Rashtriya Vigyan Diwas (राष्ट्रीय विज्ञान दिवस) every year.
2. It aims to impart scientific temper in the minds of people of all age groups.
3. The theme for year 2016 is “Scientific Issues for Development of the Nation” that aims at raising public appreciation. This day is celebrated as science festival in the entire nation by organising science exhibitions, seminars, workshops, symposiums and many other activities.
7. BK Garudachar, India's oldest first-class cricketer, died
1. India's oldest first-class cricketer BK Garudachar, who represented Mysore (as Karnataka was called till 1974), United Province and Bombay, died on 26 February 2016 in Bangalore. He was 99.
2. A right-hand batsman and a leg-break bowler, Garudachar made 1126 runs at an average of 29.63 from 27 matches in first-class cricket between 1935 and 1946.
3. Born on 13 January 1917 at Chikamagalur in Karnataka, Garudachar started playing for Mysore before representing United Province and Bombay in the 1940s. He graduated in engineering from the Benares University.
8. President dedicates India’s first IT co-operative UL Cyber Park in Kozhikode
1. President Pranab Mukherjee dedicated India’s first co-operative society in Information Technology (IT) sector UL CyberPark in Kozhikode, Kerala. The IT Park has been set up by a labour cooperative society, Uralungal Labour Contract Cooperative Society (ULCCS). It is built on 25 acre land in Nellikode in Kozhikode district at the cost of Rs. 270 crore.
2. It is expected to provide direct employment to 4,500 persons in the first phase. It will export IT solutions and products to US and Europe and is eyeing a turnover of Rs 500 crore in the next five years.
9. President Pranab Mukherjee inaugurates India’s first Gender Park at Kozhikode
1. President Pranab Mukherjee inaugurated India’s first Gender Park at Kozhikode district of Kerala. It is also the first of its kind gender equality convergence centre in Asia. The park is an initiative of the Social Justice Department of the Kerala Government to promote research and other initiatives to enable total gender equality.
2. The Gender Park seeks to encourage women to take part in developmental and decision making process. It has been launched as part of supporting the efforts of the State and Central governments in ensuring an inclusive, discrimination free society.