Current Affairs 8th March 2014

Current Affairs 8th March 2014 - Important Points

• Muslim Brotherhood declared as a Terrorist Organisation Saudi Arabia

• RBI announced to set up a Committee to assist banking sector to apply Basel III norms

• International Women Day celebrated across the world

• Asha Kiran a health insurance cover for girl child announced by New India Assurance

Current Affairs 8th March 2014 - Details

Muslim Brotherhood declared as a Terrorist Organisation Saudi Arabia

Saudi Arabia declared Muslim Brotherhood, al-Nusra Front, Hezbollah and the Islamic State of Iraq and Syria (ISIS) jihadist group as Terrorist Groups. This declaration was made by Saudi Arabia on 7th March 2014.

Important to note : The move is expected to curb the activities of terror outfits and prevent the people from taking part in the conflict directly. The ban was described as a sign of the kingdom's resolve to fight terrorism and to avoid direct consequence in Saudi Arabia. The Saudi interior ministry has gave 15 days to its citizens fighting abroad to return to the kingdom or face imprisonment.

RBI announced to set up a Committee to assist banking sector to apply Basel III norms

Reserve Bank of India (RBI) announced to set up a committee under the Financial Stability and Development Council (FSDC) on 7th March 2014. 

The committee would br responsible to set the guidelines for the banking sector to comply with Basel-III capital norms. The decision to set up this committee was taken in a sub-committee meeting of FSDC which was chaired by Reserve Bank of India (RBI) Governor Raghuram Rajan. 

Highlights : 

• The implementation of the non-legislative recommendations of the Financial Sector Legislative Reforms Commission (FSLRC) 
• The issue of setting up a repository for providing investors with a single view of all financial asset classes.
• The ways to suggest the capital requirements of the banking sector over the next five years in view of the Basel-III regulations and requirements for supervisory capital. 
• Issues of greater harmonisation of regulations across sectors for similar activities were also taken up.
• Also, it discussed about ways for setting up an effective resolution regime for the financial sector.

International Women Day celebrated across the world

International Women Day was observed across the world on 8th March 2014. On this day all over the world the achievements of the women are celebrated. 

Important to note: 

• 8th March is observed as International Women Day every year. 
• International women’s day is also called Working women’s day. 
• The first International Women's Day was observed in 1911.  

Asha Kiran a health insurance cover for girl child announced by New India Assurance

New India Assurance which is a Public sector general insurer announced an exclusive health insurance cover New India Asha Kiran for girl child. This policy was announced on 7th March 2014. New India Assurance cut health insurance rate for 50 per cent for the girl child.  

Besides being cheaper, the girl child policy also provides a personal accident cover for parents. On occurrence of any accident to parent, the sum insured would be placed as a fixed deposit in the names of the girl child.

The ASHA KIRAN policy has daily cash benefit on hospitalization, critical care benefit up to 10 per cent sum insured and emergency ambulance charges.