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- The Reserve Bank of India (RBI) has prohibited Indian entities from making direct investments in any entity located in Non-Cooperative Countries and Territories (NCCT) as identified by Financial Action Task Force (FATF).
- The first indigenously upgraded Hawk Mk132 advanced trainer aircraft, named Hawk-i, has been rolled out. It will fly in next month’s air show, Aero India 2017, in Bengaluru. This is the 100th Hawk aircraft produced by HAL under licence from its original maker BAE Systems and has a ‘made in India’ mark.
- The Union Finance Ministry has announced that the General Anti Avoidance Rule (GAAR) will be effective from the 1 April, 2017. GAAR seeks to give the IT department powers to scrutinize transactions structured in such a way as to deliberately avoid paying tax in India.
- The Indian Navy’s Annual Theatre Readiness Operational Exercise (TROPEX) 2017 is being conducted off the Western Seaboard. The month long exercise will see participation of ships and aircraft of both the Western and Eastern Naval Command and also assets from the Indian Air Force, Indian Army and the Indian Coast Guard.
- Facing sexual harassment charges, Meghalaya Governor V. Shanmuganathan (67) resigned after a section of Raj Bhavan employees demanded his removal for “seriously compromising” the dignity of the gubernatorial office.
- Scientists have discovered a 100-million-year-old insect species with a triangular head and ‘ET-like’ appearance preserved in amber in Myanmar. The features of the insect are so unusual that it has been placed in a new scientific order — an incredibly rare event. There are about one million described species of insects, and millions more still to be discovered, but every species of insect on Earth has been placed in only 31 orders so far.
- President Donald Trump was poised to suspend the U.S. refugee programme for four months and to halt visas for travellers from seven Muslim countries, according to U.S. media. A draft executive order published in the Washington Post said refugees from war-torn Syria will be indefinitely banned, while the broader U.S. refugee admissions programme will be suspended for 120 days as officials draw up a list of low risk countries.