Current Affairs India - 15 March 2016

1. Pope Francis said in Vatican City today that Mother Teresa, Nobel Prize winner for Peace, would be declared a saint of the Roman Catholic Church at a ceremony on 4th September this year. He made the announcement at a meeting of Cardinals to give the final approval to several sainthood causes.

Mother Teresa was beatified in 2003 by the Late Pope John Paul after a miracle of curing a woman of tumor was approved by the Vatican. The Pope cleared the way for sainthood last year when he recognized a second miracle attributed to Mother Teresa.

2. Mahindra & Mahindra Chairman and Managing Director Anand Mahindra was conferred with the Chevalier de la Legion d'Honneur (Knight of the Legion of Honour), France's highest civilian award, this week for national and international achievements and initiatives as the head of the Mahindra Group. He has also helped to improve partnerships between French and Indian industries.

3. Mumbai based Non-banking financial company Altico Capital India has appointed former HSBC India head Naina Lal Kidwai as an independent non-executive director. Naina lal Kidwai retired as executive director on the board of HSBC Asia Pacific and chairperson of HSBC India last year. Currently she is on the boards of Larsen & Toubro Limited, Advent Private Equity, Nestle SA, Cipla Ltd and Max Financial Services Ltd etc.

4. India-s total exports dropped by 5.66% in February 2016 to USD 20.73 billion from USD 21.98 billion in the same month last year due to weak global demand. This is the fifteenth straight monthly decline. Total imports also dropped by 5.03% to USD 27.28 billion in the same month due to drop in Gold and steel imports. The trade deficit during the month dropped to USD 6.54 billion.

Fall in imports in February was mostly due to a drop in import of gold and iron and steel. Gold import dropped sharply by 29.49% to USD 1.39 billion due to a decline in gold prices. Import of iron and steel fell 12.46% in the same month to USD 1.07 billion.