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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Union Government approves 10 FDI proposals worth Rs.2857.83 crore

Union Government has approved 10 Foreign Direct Investment (FDI) proposals worth 2857.83 crore rupees. These FDI proposals were approved by the Foreign Investment Promotion Board (FIPB).

Some of proposals approved are

  • Air Works India (Engineering) Private Limited’s proposal to increase foreign equity investment at Rs 40 crore.
  • Ostro Energy’s proposal to invest Rs. 1,400 crore over next four-five years in wind energy assets in India via downstream investment.
  • IPCA Laboratories’ proposal for FII investment up to 35 per cent i.e. Rs 900 crore.
  • Reckitt Benckiser (India) proposal to acquire 24.88 per cent stake in Reckitt Benckiser Healthcare India from its foreign investor. This deal will result in a foreign fund outflow of Rs 750 crore.
  • Syngene International’s proposal to inject 380 crore rupees through 10 per cent foreign equity participation into the company.
  • Ambuja Cements proposal for acquisition of 24 per cent shares in its holding company Holcim (India) for a share swap worth Rs 3,500 crore has been referred to the Cabinet Committee on Economic Affairs (CCEA).

FIPB approves the FDI proposals under approval route. However, those proposals worth above Rs 1,200 crore are given final approval to the CCEA.

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India’s first Polar Remotely Operated Vehicle operationalised in North Antarctica

India’s first Polar Remotely Operated Vehicle (PROVe) was successfully operationalised for research in North Antarctica by National Institute of Ocean Technology (NIOT).

PROVe was operationalised, after it had undergone series of trials in Antarctica in the past two months since its deployment by the NIOT researchers.

It has been deployed in Priyadarshini Lake located on the Schirmacher Oasis which is a major source of water for Maitri, India’s second base in the Antarctica.

Key facts of PROVe

  • Indigenously built by NIOT under the Union Ministry of Earth Sciences.
  • Capable of probing the sea bed under normal temperature and capable of exploring up to 200 meters in inhospitable and tough regions like the ice clad Antarctica.
  • Operated remotely by scientists on board the ship and has inbuilt thrusters allowing it for 360-degree movement.
  • Will help researchers to study and find out details about dissolved oxygen in sea bottom, salinity and the quantity of sunlight hitting the bottom of the sea.
  • The results and outcomes will help researchers in understanding the biological activities taking place inside the sea.

Implications of its operationalisation in Antartica

  • Its breakthrough is a great leap forward in forecasting with precision the ever elusive Monsoon, a climatic phenomenon which determines India’s economy.
  • In case of forecasting Monsoon, PROVe will measure parameters like ocean currents, temperature and salinity in the Arctic.
  • It will especially help scientist to move away from present Mathematical models for forecasting the Monsoon which many times vary from initial forecasts.

Current operation will collect data for analysis in June 2015. This data will be used for analyzing hypothesis about the link between Antarctic Ocean currents and Indian monsoon system.

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