1. North Korea declares 'state of war' with South Korea
i. North Korea said it had formally entered a "state of war" with South Korea and warned that any provocation would swiftly escalate into a nuclear conflict.
ii. The two Koreas have always technically remained at war because the 1950-53 Korean War concluded with an armistice rather than a peace treaty.
iii. North Korea has threatened attacks almost daily after it was sanctioned for a third nuclear test last month.
iv. The North carried out its third nuclear test on 12 February, which led to the imposition of fresh sanctions. Many analysts believe that all-out war with South Korea and its ally the United States would be suicidal for Pyongyang.
v. On Friday, North Korean leader Mr. Kim warned his forces were ready “to settle accounts with the U.S.” after two nuclear-capable U.S. B-2 bombers dropped dummy munitions on a South Korean island range as part of joint drills and returned to its base in Missouri.
2. 300 new bank branches to open Friday in UP
i. Efforts of the Uttar Pradesh government to increase the ratio of banks to population in the state are set to get a major boost Friday as union Finance Minister P. Chidambaram comes here to inaugurate
300 new bank branches.
ii. The new bank branches, to be inaugurated in the presence of Chief Minister Akhilesh Yadav, come up after months of lobbying by the state government with the Reserve Bank of India (RBI) that the state needed at least 3,000 new branches to come at par with the all India ratio of banks per population.
iii. Under the timeline, 300 new bank branches would be opened in March, 450 in June, 600 in September, 750 in December and 900 in March 2014.
iv. Over 70 percent of these branches would be coming up in the countryside, a state government spokesman told
v. Broadband connectivity to these new branches in far-flung areas has been offered by the BSNL. The security of these bank branches is also being ensured.
vi. The participating banks include public sector Allahabad Bank, Bank of India, Syndicate Bank, Union Bank of India, Canara Bank, and private sector HDFC, Indusind Bank, Shreyas Grameen Bank and others.
3. IRDA Introduced Credit Rating Norm for Selecting Foreign Re-insurers
i. The Insurance Regulatory and Development Authority (IRDA) have made the norms stricter for reinsurers.
ii. As per IRDA (General Insurance – Reinsurance) Regulations 2013, the tough norms have been put in place for selecting reinsurers outside India.
iii. It is Evident that in the reinsurance trade, multiple insurance companies share the risk by purchasing insurance policies from other insurers to limit the total loss the original insurer would face in the case of a disaster.
iv. So, As per the new IRDA norms, insurers is supposed to place their reinsurance business outside India with only those insurers who have a credit rating of at least BBB with Standard & Poor’s, or an equivalent rating by any other international agency for the past five years.
v. The past claims performance of the reinsurers should also be considered while accepting their participation in the reinsurance programme.
vi. The IRDA also asserted that the domestic pool for reinsurance surpluses in fire, marine hull and other classes should be organised in consultation with all insurers on fair ground for retention of business with India in prescribed ratios.
NOTE: According to the regulator, the Prime objectives of reinsurance programme, is to maximise retention (the portion of risk which an insurer assumes for its own account). The net preservation of non-life insurers increased to 91.84 per cent in 2011-12 from 88.24 per cent in the preceding year.
4. Rajasthan celebrating its 63rd foundation day
i. Rajasthan is today celebrating its 63rd foundation day.
ii. On 30th March 1949 Rajasthan was formed after merger of 22 princly states.The process of merger was continued till 1956.
iii. Today Rajasthan is the biggest state of the country and entrepreneurship of Rajasthanis is well accepted all around the globe.
iv. This year, week long Rajasthan Day celebrations are being organized in the state. Exhibitions on development are going on in districts while symposiums,Kavi Sammelans ,Theatre festival and cultural programmes are being organized at capital Jaipur.
5. India calling China business summit
i. 'India Calling China Business Partnership Summit' in China from April 7 to 12 this year.
ii. The Chamber's President, Niranjan Hiranandani, is leading a 40- member business delegation to Shanghai and Guangzhou, where the conference will be held,
iii. The IMC's delegation will include chief Guest- Vayalar Ravi, minister of overseas Indian affairs, and other high ranking political leaders and bureaucrats, who are heading the department of industry from the government of Maharashtra.
iv. With the growth in bilateral trade between India and China in the last few years, many Indian companies have started setting up Chinese operations to service both their Indian and MNC clientele in China.
NOTE: i. Indian enterprises operating in China either as representative offices, Wholly Owned Foreign Enterprises or Joint Ventures with Chinese companies are into manufacturing (pharmaceuticals, refractory, laminated tubes, auto-components, wind energy etc.), IT and IT-enabled services (including IT education, software solutions, and specific software products), trading, banking and allied activities.
ii. The primary focus of the conference is to attract Chinese investment into major infrastructure projects such as metro rail and Trans harbour line, etc. It will also deliberate how to narrow the balance of trade gap between two countries.
6. Actor Richard Griffiths, the Renowned Vernon Dursley of Harry Potter Died
i. Actor Richard Griffiths, the renowned Vernon Dursley of Harry Potter died on 28 March 2013 at University Hospital in Coventry, central England.
ii. His age was 65 years. He died because of complications in the heart surgery.
About Richard Griffiths
i. Richard Griffiths was most popularly known for his role of Vernon Dursley in the Harry Potter movies as well as Uncle Monty in Withnail and I.
ii. He played some other popular roles as Henry Crabbe in Pie in the Sky and King George II in Pirates of the Caribbean: On Stranger Tides.
iii. He achieved a very rare double of Tony Award in New York as well as an Olivier Award in London.
iv. In 2008, he was appointed as an OBE for New Year Honours for his contribution to drama.
7. Serena & Sharapova in Sony Open final
i. Maria Sharapova will face Serena Williams in the final of the Sony Open
ii. World number one Williams needed just 65 minutes to deal with fourth seeded defending champion Agnieska Radwanska 6-0 6-3, while Sharapova, who won at Indian Wells earlier this month, demolished Serbia's Jelena Jankovic 6-2 6-1.
iii. Despite Sharapova's good form, Williams will start as clear favourite in tomorrow's final - she is 11-2 in meetings with the Russian and has won the last 10 matches between the pair.
iv. Williams, seeking a record sixth Miami title, is relishing the chance of taking on the woman directly below her in the world rankings.
8. Andy Murray & David Ferrer to clash in Miami Masters final
i. Former winner Andy Murray and third seed David Ferrer will meet in the final of the Miami Masters
ii. Murray, who is the lone British champion in the history of the Miami event, has beaten Ferrer in six out of 11 career matches, winning five of the last seven.
iii. Ferrer has only beaten Murray once on a non-clay surface and that was at the Barclays ATP World Tour Finals in 2011.
9. Kohli, Raina in top 10 in ICC T20 rankings
i. Virat Kohli and Suresh Raina are the two Indians to figure in the list of top 10 in ICC Player Rankings for T20I batsmen, while India continue to hold onto the number three slot in the teams category, issued in Dubai on Friday.
ii. Kohli with 731 points is at number eight position, followed by Raina (719) in the latest rankings table, which is headed by New Zealand's wicketkeeper captain Brendon McCullum (810).
iii. Yuvraj Singh (14) and Gautam Gambhir (18) are the other two Indians to have found a place in the top-20 batsmen's list.
iv. In the team rankings, India are placed third behind Sri Lanka and T20 champions the West Indies.
v. Offie Ravichandran Ashwin is the only Indian to have featured in the list of top-20 bowlers in the shortest format, which is headed by Sunil Narine of the West Indies
i. North Korea said it had formally entered a "state of war" with South Korea and warned that any provocation would swiftly escalate into a nuclear conflict.
ii. The two Koreas have always technically remained at war because the 1950-53 Korean War concluded with an armistice rather than a peace treaty.
iii. North Korea has threatened attacks almost daily after it was sanctioned for a third nuclear test last month.
iv. The North carried out its third nuclear test on 12 February, which led to the imposition of fresh sanctions. Many analysts believe that all-out war with South Korea and its ally the United States would be suicidal for Pyongyang.
v. On Friday, North Korean leader Mr. Kim warned his forces were ready “to settle accounts with the U.S.” after two nuclear-capable U.S. B-2 bombers dropped dummy munitions on a South Korean island range as part of joint drills and returned to its base in Missouri.
2. 300 new bank branches to open Friday in UP
i. Efforts of the Uttar Pradesh government to increase the ratio of banks to population in the state are set to get a major boost Friday as union Finance Minister P. Chidambaram comes here to inaugurate
300 new bank branches.
ii. The new bank branches, to be inaugurated in the presence of Chief Minister Akhilesh Yadav, come up after months of lobbying by the state government with the Reserve Bank of India (RBI) that the state needed at least 3,000 new branches to come at par with the all India ratio of banks per population.
iii. Under the timeline, 300 new bank branches would be opened in March, 450 in June, 600 in September, 750 in December and 900 in March 2014.
iv. Over 70 percent of these branches would be coming up in the countryside, a state government spokesman told
v. Broadband connectivity to these new branches in far-flung areas has been offered by the BSNL. The security of these bank branches is also being ensured.
vi. The participating banks include public sector Allahabad Bank, Bank of India, Syndicate Bank, Union Bank of India, Canara Bank, and private sector HDFC, Indusind Bank, Shreyas Grameen Bank and others.
3. IRDA Introduced Credit Rating Norm for Selecting Foreign Re-insurers
i. The Insurance Regulatory and Development Authority (IRDA) have made the norms stricter for reinsurers.
ii. As per IRDA (General Insurance – Reinsurance) Regulations 2013, the tough norms have been put in place for selecting reinsurers outside India.
iii. It is Evident that in the reinsurance trade, multiple insurance companies share the risk by purchasing insurance policies from other insurers to limit the total loss the original insurer would face in the case of a disaster.
iv. So, As per the new IRDA norms, insurers is supposed to place their reinsurance business outside India with only those insurers who have a credit rating of at least BBB with Standard & Poor’s, or an equivalent rating by any other international agency for the past five years.
v. The past claims performance of the reinsurers should also be considered while accepting their participation in the reinsurance programme.
vi. The IRDA also asserted that the domestic pool for reinsurance surpluses in fire, marine hull and other classes should be organised in consultation with all insurers on fair ground for retention of business with India in prescribed ratios.
NOTE: According to the regulator, the Prime objectives of reinsurance programme, is to maximise retention (the portion of risk which an insurer assumes for its own account). The net preservation of non-life insurers increased to 91.84 per cent in 2011-12 from 88.24 per cent in the preceding year.
4. Rajasthan celebrating its 63rd foundation day
i. Rajasthan is today celebrating its 63rd foundation day.
ii. On 30th March 1949 Rajasthan was formed after merger of 22 princly states.The process of merger was continued till 1956.
iii. Today Rajasthan is the biggest state of the country and entrepreneurship of Rajasthanis is well accepted all around the globe.
iv. This year, week long Rajasthan Day celebrations are being organized in the state. Exhibitions on development are going on in districts while symposiums,Kavi Sammelans ,Theatre festival and cultural programmes are being organized at capital Jaipur.
5. India calling China business summit
i. 'India Calling China Business Partnership Summit' in China from April 7 to 12 this year.
ii. The Chamber's President, Niranjan Hiranandani, is leading a 40- member business delegation to Shanghai and Guangzhou, where the conference will be held,
iii. The IMC's delegation will include chief Guest- Vayalar Ravi, minister of overseas Indian affairs, and other high ranking political leaders and bureaucrats, who are heading the department of industry from the government of Maharashtra.
iv. With the growth in bilateral trade between India and China in the last few years, many Indian companies have started setting up Chinese operations to service both their Indian and MNC clientele in China.
NOTE: i. Indian enterprises operating in China either as representative offices, Wholly Owned Foreign Enterprises or Joint Ventures with Chinese companies are into manufacturing (pharmaceuticals, refractory, laminated tubes, auto-components, wind energy etc.), IT and IT-enabled services (including IT education, software solutions, and specific software products), trading, banking and allied activities.
ii. The primary focus of the conference is to attract Chinese investment into major infrastructure projects such as metro rail and Trans harbour line, etc. It will also deliberate how to narrow the balance of trade gap between two countries.
6. Actor Richard Griffiths, the Renowned Vernon Dursley of Harry Potter Died
i. Actor Richard Griffiths, the renowned Vernon Dursley of Harry Potter died on 28 March 2013 at University Hospital in Coventry, central England.
ii. His age was 65 years. He died because of complications in the heart surgery.
About Richard Griffiths
i. Richard Griffiths was most popularly known for his role of Vernon Dursley in the Harry Potter movies as well as Uncle Monty in Withnail and I.
ii. He played some other popular roles as Henry Crabbe in Pie in the Sky and King George II in Pirates of the Caribbean: On Stranger Tides.
iii. He achieved a very rare double of Tony Award in New York as well as an Olivier Award in London.
iv. In 2008, he was appointed as an OBE for New Year Honours for his contribution to drama.
7. Serena & Sharapova in Sony Open final
i. Maria Sharapova will face Serena Williams in the final of the Sony Open
ii. World number one Williams needed just 65 minutes to deal with fourth seeded defending champion Agnieska Radwanska 6-0 6-3, while Sharapova, who won at Indian Wells earlier this month, demolished Serbia's Jelena Jankovic 6-2 6-1.
iii. Despite Sharapova's good form, Williams will start as clear favourite in tomorrow's final - she is 11-2 in meetings with the Russian and has won the last 10 matches between the pair.
iv. Williams, seeking a record sixth Miami title, is relishing the chance of taking on the woman directly below her in the world rankings.
8. Andy Murray & David Ferrer to clash in Miami Masters final
i. Former winner Andy Murray and third seed David Ferrer will meet in the final of the Miami Masters
ii. Murray, who is the lone British champion in the history of the Miami event, has beaten Ferrer in six out of 11 career matches, winning five of the last seven.
iii. Ferrer has only beaten Murray once on a non-clay surface and that was at the Barclays ATP World Tour Finals in 2011.
9. Kohli, Raina in top 10 in ICC T20 rankings
i. Virat Kohli and Suresh Raina are the two Indians to figure in the list of top 10 in ICC Player Rankings for T20I batsmen, while India continue to hold onto the number three slot in the teams category, issued in Dubai on Friday.
ii. Kohli with 731 points is at number eight position, followed by Raina (719) in the latest rankings table, which is headed by New Zealand's wicketkeeper captain Brendon McCullum (810).
iii. Yuvraj Singh (14) and Gautam Gambhir (18) are the other two Indians to have found a place in the top-20 batsmen's list.
iv. In the team rankings, India are placed third behind Sri Lanka and T20 champions the West Indies.
v. Offie Ravichandran Ashwin is the only Indian to have featured in the list of top-20 bowlers in the shortest format, which is headed by Sunil Narine of the West Indies
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