Current Affairs India - 21 March 2016

1. One of Mumbai oldest colleges, the Wilson College has adopted the Charni Road station to keep it clean as part of the Swachch Bharat Abhiyan launched by Prime Minister Narendra Modi last year. The college took the decision in response to the appeal made by the Governor to colleges and universities to adopt a railway stations or any other public place nearest to the institution and to take care of its cleanliness and upkeep.


2. India-s current account deficit narrowed to 1.3% of GDP in the third quarter of the current financial year 2015-16 compared to 1.5% in the same quarter last year, as per data published by the RBI. The drop in CAD was mainly due to a lower trade deficit of USD 34 billion during the same quarter, compared to USD 38.6 billion in the year ago quarter. 


3. The Central Government has relaxed FDI norms for the insurance sector by allowing 49% FDI in domestic insurers without prior approval in order to bring more foreign investment in the country. Earlier the FDI cap was 26% without approval and an approval was required for up to 49% FDI.


4. Fashion designer RituBeri has been appointed as the advisor to the union government's statutory body Khadi and Village Industries Commission (KVIC) for promotion of khadi across Indian and overseas markets.