Current Affair 6 April 2016 for Competition Exams

East Coast Railway becomes largest freight loading railway zone.
The East Coast Railway (ECoR) has emerged as the largest freight loading railway zone of Indian Railways in 2015-16.
ECoR loaded 173.49 million tonnes of freight compared to 161.91 during the last year, registering a 7.1 per cent growth.
On the earnings side, ECoR earned about Rs 15,978.28 crore which is 14.13 per cent more than the previous financial year. It registered an increase of Rs 1961.27 crore in earning.


India and Saudi Arabia sign 5 agreements .
India and Saudi Arabia on 3rd April 2016 signed five agreements, including a key pact on terror financing and money laundering during PM Narendra Modi's two-day visit to Saudi Arabia in Riyadh. The visit to Saudi Arabia was part of PM Modi’s three-nation visit to Belgium,United States and Saudi Arabia for Nuclear Security Summit.


DCB Bank launches Aadhaar-based ATM.
Domestic bank, small-sized lender DCB Bank has launched India’s first of its kind Aadhaar-based Automatic Teller Machine (ATM) usage facility wherein a customer can now use his/her biometric details instead of using a PIN number to make cash transactions. The first of the Aadhaar-based ATMs has been installed at the Bank's corporate office in the megapolis' Lower Parel area, Mumbai.
Under this facility, user can key-in the 12-digit Aadhaar number or swipe the card at ATM, but at the stage of confirming the identity, it requires biometric details rather than the PIN.


Waqar Younis resigns as Pakistan chief coach.
Pakistan's head coach Waqar Younis (44) has resigned from his post following the humiliating exit of his team from the World Twenty20 in India. It won just one match against Bangladesh and lost to Australia, India and New Zealand.The 44-year old took on the job for the second time in year2014, having previously held the post in year2010-11.


Bihar imposes complete ban on liquor.
The Bihar government has imposed a complete ban on all types of liquor in the state including Indian Made Foreign Liquor (IMFL). The state Cabinet, chaired by Chief Minister Nitish Kumar at its meeting in Patna approved a proposal by the excise and prohibition department to impose a complete ban on the sale and consumption of all types of liquor across the state, including on IMFL brands. According to the estimates, Bihar will lose around Rs 4,000 crores in revenue due to this total ban.
The production, sale and consumption of all types of liquor have been banned in the state which means that henceforth person found indulging in manufacturing trade, transportation, sale and consumption of liquor across the state will be punished under the stringent provisions of the Bihar Excise (Amendment) Act year2016.


RBI cuts repo rate by 25 basis points to 6.5%.
The Reserve Bank of India has cut down key interest rates by 25 basis points in its first bi-monthly monetary policy review for the year2016-17 fiscal. With this, Home, auto and other loans are set to become cheaper. However, RBI has kept Cash Reserve Ratio unchanged at 4 per cent.
First bi-monthly monetary policy review 2016-17
one. Repo rate: The rate, at which RBI lends to the financial system, has come down from 6.75 per cent to 6.5 per cent.
two. Cash reserve ratio (CRR): RBI has unchanged CRR and kept it at 4.0 per cent of net demand and time liabilities (NDTL).
three. Reverse repo rate: The rate at which banks can keep excess funds with the RBI, was hiked to 6 per cent.