Latest Current Affairs Today – 1st March 2016


Read about the new housing scheme for transgenders, the new attack helicopters to be inducted into the Indian army,  the biggest gain by the Indian stock markets and more …

1) Bengaluru: Karnataka government announces housing scheme for transgenders:



  • Karnataka government has announced housing scheme for transgenders, who are facing social boycott, in Bengaluru.
  • Bengaluru Development Minister , K J George, announced the housing scheme for over 600 transgenders living in the city and facing social exclusion.
  • The scheme will come up on 50 acres land on the outskirts of the city where the government is building a township for the economically weaker sections of society.
  • George said he would instruct the Bengaluru Urban district administration to come up with a blueprint of the housing for the transgenders. He also assured social security for the transgenders on behalf of the government.


2) Kerala Mango smartphone brand promoters arrested on day of launch –



  • Mango Phone, or mPhone, got peeled on the day of its launch with promoters Anto Augustine, 32, and Josekutty Augustine, 24, both brothers from Kalpetta in Wayanad district, getting arrested for allegedly duping the Kalamassery branch of Bank of Baroda. They were arrested from the venue of the big-ticket launch in Kochi.
  • Police claim the two had defrauded many banks, and were arrested for submitting false land documents for a loan and had been absconding for almost a year.
  • Rojy Augustine, another sibling who is also chairman of the company, said that the arrests are suspicious coming on the day of the launch. He claims they have no knowledge of the Bank of Baroda case.

More Details:

  • mPhone Electronics and Technologies from Kochi was supposed to change the smartphone market, at least down in God’s Own Country, with a handful of smartphones that cater to all types of customers.
  • There was the top-end mPhone 11 plus priced around Rs 39,999 and even a mPhone 5s priced Rs 11,999 with five other models in between. The company even promised a Rs 12,999 m2 smartwatch and a slew of accessories from wireless chargers to power banks and headphones.


3) CH-47 Chinook, AH-64 Apache Attack helicopters will be inducted in the armed forces soon:



  • In a bid to strengthen country’s defence forces, the Indian Defence Ministry has issued an order worth Rs 22,000 crores for purchase of helicopters, CH-47 Chinook and AH-64 Apache, which will be inducted in the forces soon.
  • “The ministry has already issued an order for purchase of 15 Chinook Helicopters and 21 Apache helicopters which will soon be inducted in the forces,” Defence Minister Manohar Parrikar told a select group of reporters.
  • The minister said the order totalling Rs 22,000 crores has been placed for the purchase of these choppers, which will strengthen the capabilities of country’s defence forces.

More Details:

  • To a query regarding the Union Budget, Parrikar hailed the finance minister’s decision to allocate 10% increase of funds for the defence sector.
  • Parrikar also said that with the Defence ministry giving the nod to export ‘BRAHMOS’ and ‘Akash’ missiles, Indian forces would get a boost.
  • Claiming that neighbour Pakistan is wary of India’s defence powers, Parrikar said during a recent exhibition that Pakistan withdrew display of its JF 17 Fighter jets when India’s ‘Tejas’ (Light Combat Aircraft) was showcased.


4) Peru declares emergency after oil spill hits rivers:



  • Peru has declared an emergency three weeks after a major oil pipeline burst affecting two rivers in the country’s northwest.
  • The pipeline spilled 3,000 barrels of crude oil into the Chiriaco and Morona Rivers, which are the main source of water and food for several indigenous communities.
  • The government has told these communities not to eat fish from the polluted waters.

More Details:

  • The broken pipeline reportedly used to transport between 5,000 and 6,000 oil barrels per day.
  • The pipeline is owned by Petro Peru, a state-owned oil company.
  • The leader of the emergency-response team for Petro Peru, Victor Huarcaya, who is in charge of the spill clean-up told Al Jazeera that fish is now safe.
  • The oil company has been accused of a slow reaction to the spill, they only started providing food, water and medical attention weeks after the crisis, which has affected the health of more than 200 people.
  • Peru’s main oil pipeline was built over 30 years ago. This has been the third oil spill in less than a month.


5) Sensex, Nifty post best gain in over 2 years on regional cues, budget-

bull bear


  • Indian stock markets jumped 3.4 percent on Tuesday to post their best single-day gain in more than two years as gains throughout Asia and relief about the government’s commitment to its fiscal deficit target for the next fiscal year boosted sentiment.
  • The broader Nifty rose 3.37 percent to end at 7,222.30, marking its biggest daily gain since September 2013 when the country was in the midst of its worst currency crisis in more than two decades. It had earlier gained as much as 3.5 percent.
  • The benchmark BSE Sensex jumped 3.38 percent.

More Details:

  • Bets of a rate cut gained momentum after Finance Minister Arun Jaitley retained FY17 fiscal deficit target at 3.5 per cent of GDP despite increasing expenditure for rural and infrastructure spending.
  • The absence of negative tax measures, such as status quo on the duration for applicability of long-term capital gains tax on equities, also helped Tuesday’s rally, traders said. Gains also came after advances in Asian markets following China’s monetary easing.
  • The sharp rise in Sensex and Nifty on Tuesday did not come as a surprise to analysts, as stock markets had witnessed a sharp selloff in the run-up to the Budget on concerns that fiscal deficit target would be relaxed for a second straight year.

Click here to take the latest Current affairs Quiz.