Daily GK Update 22 March 2015 Current Affairs

1)      Nabard staff union bats for reverse merger with RBI
i) The Centre may consider appointing the Deputy Governor of RBI as Chairman of Nabard (National Bank for Agriculture and Rural Development). It may also seriously consider the reverse merger to make RBI and Nabard complementary to each other for the betterment of agriculture and rural development.
ii) These are among the suggestions that VK Bhosale, General Secretary, All India Nabard Employees Association, has made in a communication to Finance Minister Arun Jaitley.

2)      Nitish launches energy projects worth Rs. 3,241 cr in Bihar
i) Chief Minister Nitish Kumar today laid foundation stones and launched work of power projects worth Rs. 3,241 crore on the occasion of 103rd ‘Bihar Diwas’ and asserted that the state government was “determined” to improve the power scenario in the State.
ii) He also unveiled electricity projects worth Rs. 106 crore, spread across the State, saying that all the schemes launched and inaugurated today were meant to improve the electricity transmission system.
iii) Speaking on the occasion, Kumar said, “We have taken a pledge to improve power scenario in the State, and we are working continuously to fulfil it. Electricity is being supplied to wherever the distribution system has reached”.

3)      Every Drop Counts: World Water Day
i) A rally was taken in Hyderabad on Sunday to mark World Water Day, observed on March 22 every year to highlight on water conservation and raise awareness about it.
ii) While the list of reasons for a day dedicated to water is long, from issues ranging from distributing it during disasters to improving sanitation and making sure drinking water is of sufficient quality, the United Nations report released in March warned the world could suffer a 40% shortfall in water in just 15 years unless countries dramatically change the way they use water as of now. As climate change takes its toll on Earth, rainfall patterns are predicted to become more erratic.

4)      IMF happy to cooperate with China-led Asian Infrastructure Investment Bank
i) The International Monetary Fund will be "delighted" to cooperate with the China-led Asian Infrastructure Investment Bank (AIIB), said IMF managing director Christine Lagarde on Sunday.
ii) Lagarde added that there is "massive" room for co-operation with AIIB on infrastructure financing.
iii) The World Bank will also cooperate with the AIIB, Lagarde told a conference in Beijing. Her comments come after a number of countries said they would participate in the new bank slated to start operations by the end of the year, even as others raised concerns over potential competition with other lenders.


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