March 15, rights of all consumers (ii) demand those rights that must be respected and protected and (iii)

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1 March 15, 2018 World Consumer Rights Day: 15th March The World Consumer Rights Day (WCRD) is celebrated every year on March 15 to pay solidarity with the international consumer movement and give more attention to promote basic rights of consumers. Significance of Day: It provides (i) an opportunity to promote the basic rights of all consumers (ii) demand those rights that must be respected and protected and (iii) for those protesting against the market abuses and social injustices. The theme for 2018 is Fairer Digital Marketplaces. The definition of Consumer right is 'the right to have information about the quality, potency, quantity, purity, price and standard of goods or services, as it may be the case, but the consumer is to be protected against any unfair practices of trade. It is very essential for the consumers to know these rights. Out of the various laws that have been enforced to protect the consumer rights in India, the most important is the Consumer Protection Act, President Kovind inaugurates World Hindi Secretariat building in Mauritius President Ram Nath Kovind inaugurated World Hindi Secretariat in Mauritius capital, Port Louis. The Secretariat is fully financed by India and a grant of 33 crore rupees was provided. General Secretary of World Hindi Secretariat, Vinod Kumar Mishra said the land has 1

2 been given by the Government of Mauritius. Prime Minister Narendra Modi had laid the foundation stone of this building in Mr. Mishra said the aim is to present Hindi as a common man s language, Janbhasha, in front of the world. Addressing the inauguration of World Hindi Secretariat Headquarters, President Kovind said Hindi has played an important role in culture and society building in both India and Mauritius. He said the Indian diaspora in Mauritius has played a huge role in the spread of Hindi. Capital: Port Louis Currency: Mauritian rupee Finland tops 2018 global happiness index India ranked 133rd, far behind terrorravaged Pakistan and poorest-of-poor Nepal in the global list of the happiest countries, according to a United Nations report released on 14t March. It slipped 11 places as it was placed 122nd last year, which was a drop from 118th rank the preceding year. It was behind the majority of South Asian Association for Regional Cooperation (Saarc) nations, apart from war-ravaged Afghanistan, that stood at 145. Among the eight Saarc nations, Pakistan was at 75th position, up five spots from last year. Nepal stood at 101, Bhutan at 97, Bangladesh at 115 while Sri Lanka was at 116. India s other testy neighbor, China, was also far ahead at 86th spot. The UN Sustainable Development Solutions Network's (SDSN) 2018 World Happiness Report ranked 156 countries according to things such as GDP per capita, social support, healthy life expectancy, social freedom, generosity and absence of corruption. Top three are Finland, Norway, and Denmark. USA was ranked 11th in the list. 2

3 Indian economy may grow 7.3% in : World Bank The Indian economy is expected to grow 7.3% in and accelerate to 7.5% in , a World Bank report said on March 14 as it called for reforms to sustain growth in the years ahead. The economy is set to revert to its trend growth rate of 7.5% in the coming years as it bottoms out from the impact of the Goods and Services Tax (GST) and demonetization, the India Development update said. GDP growth is projected to reach 6.7% in , the report added, in line with the official estimates. To sustain its growth path, India will need to keep a close eye on several factors to make the country more resilient to shocks: the changing landscape of open trade, reforms in the banking sector, strengthening financial institutions, and regulatory supervision of the financial sector, the report said. SBI closes 41.6 lakh saving accounts for not keeping minimum balance The State Bank of India has closed as many as lakh savings bank accounts between April and January for not maintaining the minimum monthly balance, reveals an RTI query. The nation s largest lender had reintroduced the charges for non-maintenance of average monthly balance in April last year after a gap of five years. The bank later revised downwards the charges for not maintaining the minimum balance in October. Notably, the 3

4 bank had yesterday announced a steep 75 percent reduction in penalty for non-maintenance of monthly average balance. The new charges will be effective April 1. Wholesale inflation eases to 7-month low Wholesale inflation moderated for the third consecutive month to a seven-month low in February on the back of cooling food and nonfood articles. Data released by the commerce and industry ministry on March 14 showed inflation, as measured by the wholesale price index (WPI), rose an annual 2.5%, slower than the previous month s 2.8% and lower than 5.5% in the year earlier period. Retail inflation in February slowed to 4.4% in February due to lower food prices, which calmed fears about a spike in price pressure. The WPI data showed prices of pulses contracted an annual 24.3%, while those of vegetables rose 15.4% during the month, slower than the 36.7% rise in the previous month. Onion prices remained stubborn, increasing nearly 80% in February but lower than 127% in the previous month. Union Govt sets target of 35% pollution cut for 100 cities As part of its dedicated air pollution abatement programme for 100 polluting cities, the Centre has formulated a National Clean Air Programme (NCAP) to fight the menace through a long-term strategy. The programme focuses on target oriented approach with specific time-lines to reduce various pollutants in cities including Mumbai, Kolkata, Pune, Nagpur, Lucknow, 4

5 Kanpur, Varanasi, Agra and Chandigarh. All these cities will also have their own city-specific action plans, like the one in Delhi, under the NCAP. Under this programme, the environment ministry targets 35% reduction of air pollution in the next three years and 50% reduction in the next five years for at least the 100 identified cities across India. Pakistan football team s international ban lifted by FIFA Pakistan s ban from international soccer has been lifted by FIFA following the end of undue third-party interference in the country s football federation (PFF), the world governing body said on 14t March. The ban, in force since October, had barred Pakistan s teams, including the senior national side, from playing in international competition while the PFF was denied access to FIFA development and training programmes. FIFA said it lifted the ban after an administrator appointed by the Lahore High Court was directed to hand control back to the PFF. FIFA said the PFF had successfully taken back control of the PFF offices along with the PFF accounts on March 1 and added that it was still closely following the situation at the federation. FIFA Headquarters: Zürich, Switzerland 5

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