Current Affairs – March, 2015

Latest Current Affairs March, 2015 with Current Affairs, news summary on current events of National and International importance of March, 2015 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Ministry of Railways constitutes Ajay Shankar Committee to review PPP Cell functioning

Union Ministry of Railways has constituted a Committee to review the existing Public Private Partnership (PPP) Cell in the Railway Board with former IAS officer Ajay Shankar as its head.

The Committee will recommend measures needed to make the PPP Cell more customer friendly, effective and result oriented.

The Infrastructure Directorate of Railway Board will be the Nodal Directorate for functioning of the Committee. While the Executive Director/Traffic (PPP) Railway Board will be the Secretary to the Committee.

Ajay Shanka is former Secretary, Department of Industrial Policy & Promotion (DIPP) under the aegis of Union Ministry of Commerce and Industry.


  • During the Rail budget speech in February 2015, Union Railways Minister Suresh Prabhu had promised to revamp the existing PPP cell in the Railways in order to make it more result oriented.
  • Government also had unveiled its plan to invest Rs.8.5 trillion in the railways in next 5 years. By channelizing PPP, railways is seeking to improve its freight business and investment in its infrastructure.

Ruth Porat appointed as Chief Financial Officer of Google

Ruth Porat has been appointed as Chief Financial Officer (CFO) of world’s largest search engine giant Google.

She will succeed Patrick Pichette who had announced his retirement on 10 March 2015 and assume charge on 26 May 2015. As CFO of Google she will directly report to Larry Page, CEO and Co-Founder of Google.

Prior to this appointment Ruth was working as CFO at Morgan Stanley. She joined Morgan Stanley in 1987. Since then she had severed at various posts and had played several key roles at the company. She has served as Global Head of the Financial Institutions Group, co-Head of Technology Investment Banking and Vice Chairman of Investment Banking.

Porat also was the lead banker on numerous technology financing rounds, including for Amazon, eBay, Netscape, Priceline and Verisign as well as for The Blackstone Group, General Electric (GE) and the New York Stock Exchange (NYSE).

She is also Vice Chair of the Stanford University Board of Trustees and a member of the US Treasury’s Borrowing Advisory Committee. She also serves as a Board Director at The Council on Foreign Relations and a member of the Advisory Council of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.