Current Affairs : 27-02-2020 in English

Economy

  • On February 25, the Department for Promotion of Industry and Internal Trade (DPIIT) notified the government's decision to allow 100 percent foreign direct investment (FDI) in - insurance intermediaries (brokers, reinsurance brokers, consultants, corporate agents, third party administrators, surveyors and loss assessors).
  • According to the report titled "Retail 4.0 Winning the 20s", the Indian retail market is estimated to cross USD 1 trillion-mark by - 2025.
  • On February 26, SEBI allowed investors to directly access the infrastructure of stock exchanges for purchasing and redeeming mutual fund units directly from - mutual fund and asset management companies.

National

  • On February 26, the Union Cabinet approved the National Technical Textiles Mission, to be implemented from 2020-21 to 2023-24, with an outlay of - Rs 1,480 crore.
  • ‘ Higher Education Leadership Development Programme for Administrator’ is a joint initiative of UGC and - British Council, UK.
  • ‘Water Conclave 2020’ on hydrological aspects of climate change began at - IIT Roorkee.
  • ICICI Foundation for Inclusive Growth has signed a pact with this research body for training and capacity building of farmers - ICAR.

Persons in News

  • Newly appointed Co-Chairperson of The Federation of Indian Chambers of Commerce and Industry (FICCI) for 2020 - GSK Velu.

Sports

  • Top with 14 medals at the Khelo India University Games in Odisha - Savitribai Phule Pune University (7 gold).
  • On 25 February, the first-ever Khelo India Winter Games inaugurated in - Leh, Ladakh, Jammu and Kashmir.
  • Host of the world's richest horse race, with USD 20 million in cash prizes - Saudi Arabia.

State Current Affairs

  • Under the theme ‘Ek Bhaart Shreshth Bharat’, the Eight day cultural fair called “Vasantotsav” was inaugurated on 25 February in – Gandhinagar, Gujarat.
  • Maharashtra Education Minister Varsha Gaikwad announced shutting down of the - Maharashtra International Education Board (MIEB).

General Knowledge

  • University Grants Commission (UGC) - Founded: 28 December 1953; Headquarters: New Delhi; Founder: Abul Kalam Azad.
  • Employees’ state Insurance Corporation of India (ESIC) - Founded: 24 February 1952; Headquarters: New Delhi.
  • Federation of Indian Chambers of Commerce and Industry (FICCI) - Founded: 1927; Founder: G D Birla & P Thakurdas; Headquarters: New Delhi.       
  • Indian Council of Agricultural Research (ICAR) - Founded: 16 July 1929; Headquarters: New Delhi.
  • Securities and Exchange Board of India (SEBI) - Founded: 1988; Statutory status: 30 January 1992; Headquarters: Mumbai.
  • Department for Promotion of Industry and Internal Trade (DPIIT) was established in – 1995.
  • DPIIT has been reconstituted in the year 2000 with the merger of the - Department of Industrial Development.

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