Current Affairs – March, 2018

Current Affairs 2018 (March) with Latest Current Affairs and news summary on current events of national and international importance for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

PDF Compilation of these updates can be downloaded from This Link

PFMS portal processes record transactions on single day

The Public Financial Management System (PFMS) portal has processed record Rs 71,633 crore transactions on a single day. This was a historical record breaking volume of digital transactions achieved by PFMS.

Public Financial Management System (PFMS)

It is end-to- end solution for processing payments, tracking, monitoring, accounting, reconciliation and reporting. It is implemented by Controller General of Accounts and administered by the Department of Expenditure, both in Ministry of Finance. Various ministries/departments utilise this platform to monitor utilisation of funds provided to the implementing agencies and states governments.

It provides unified platform to scheme managers for tracking releases and monitoring their last mile utilisation. It also provides single platform for efficient management of funds by tracking them and real time reporting of expenditure and receipts through treasury and bank interface. It is also used for Direct Benefit Transfer (DBT) payments under MGNREGA and other notified schemes of the Centre.

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Government launches Swachh Bharat Summer Internship

Government is going to launch Swachh Bharat Summer Internship (SBSI) 2018 aimed at engaging college youth with Swachhata work in villages in coming Summer vacation. The initiative will be launched by Ministry of Drinking Water and Sanitation, the convening and coordinating Ministry of Swachh Bharat Mission (SBM) in association with Ministry of Human Resource Development.

SBSI 2018

SBSI 2018 aims to engage lakhs of educated youth across country, develop their skills and orientation for sanitation sector, amplify mass awareness and cement people’s movement (Jan andolan) aspect of SBM. Under it, candidates will undertake 100 hours of activities including shramdaan, creation of sanitation infrastructure, system building, behaviour change camiagns and other IEC initiatives in and around nearby villages.

The best internships will be recognised at college, University, State and National levels. Every intern who completes the SBSI will also be provided a Certificate of Internship by the Swachh Bharat Mission. 2 credit points as an ‘elective’ under Choice Based Credit System (CBCS) will be awarded to students in Higher Educational Institutions undertaking and completing SBSI.

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