Hindu Review March 2024 PDF

Current Affairs | March 2024 1 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current...

Current Affairs | March 2024 1 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 Contents The Most Important Current Affairs March 2024.............................................................................................. 3 Banking and Financial Current Affairs............................................................................................................... 7 Economy Current Affairs................................................................................................................................... 9 Business Current Affairs.................................................................................................................................. 11 International Current Affairs........................................................................................................................... 13 National Current Affairs.................................................................................................................................. 15 States Current Affairs...................................................................................................................................... 18 Schemes and Committees............................................................................................................................... 21 Agreement/Memorandum of Understanding (MoU)...................................................................................... 22 New Appointments: International.................................................................................................................. 24 Sports Current Affairs..................................................................................................................................... 26 Summits And Conferences.............................................................................................................................. 27 Ranks and Reports News................................................................................................................................. 28 Important Days............................................................................................................................................... 29 Defence Current Affairs.................................................................................................................................. 29 Awards News.................................................................................................................................................. 31 Science and Technology.................................................................................................................................. 32 Books & Authors............................................................................................................................................. 34 Miscellaneous Current Affairs......................................................................................................................... 34 Obituaries Current Affairs............................................................................................................................... 35 Static Current Affairs....................................................................................................................................... 36 2 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 The Most Important Current Affairs March 2024 PM Narendra Modi Presents National Creators Award Triumph of Creativity at the National Creators Award The winners, including three international creators, were Prime Minister Narendra Modi presented the first-ever National Creators Award at the Bharat Mandapam in New selected from over 1.5 lakh nominations, highlighting the Delhi. The event marked a significant milestone in recognizing extensive reach and impact of their work. The National Creators and celebrating creators who have made impactful Award serves as a testament to the power of creativity in contributions across various domains. driving positive change and inspiring millions around the world. Awards span 20 categories including storytelling, and social change Oscars 2024 Announced, Check Full List of Winners The National Creators Award encompasses 20 categories, The Oscars 2024 ceremony took place at the Dolby Theater in highlighting the diversity and depth of creativity across different Los Angeles, with Jimmy Kimmel hosting for the fourth time. fields. From storytelling to social change advocacy, environmental sustainability to education, and gaming among The film “Oppenheimer” emerged as the big winner, earning 13 others, the awards aim to acknowledge excellence and nominations and taking home prestigious awards, including innovation that drives positive change in society. Best Director, Best Actor, and Best Picture. Cillian Murphy’s performance in the title role of “Oppenheimer” Several social media influencers receive awards earned him the Best Actor award, continuing his successful run Among the recipients of the National Creators Award were notable social media influencers who have captivated after winning similar honors at other major award shows like audiences with their content and message. Prime Minister Modi the Golden Globes, BAFTAs, and Screen Actors Guild Awards. presented awards to individuals who have made significant The film “Poor Things” also had a notable presence, winning contributions in their respective fields, inspiring millions with awards in the categories of Hair and Makeup, Production their creativity and vision. Here is the list of winners: Design, and Costume Design. Winner Award The Malayalam film “Everyone is a Hero” (2023), which was Jaya Kishori Best Creator for Social Change chosen as India’s official entry for the International Feature Film Kabita Singh (Kabita’s category at the 2024 Academy Awards, has been eliminated Best Creator in Food Category from the Oscars race. Despite being the country’s Kitchen) Drew Hicks Best International Creator representative, the film did not make it to the final shortlist of Kamiya Jani Favourite Travel Creator nominations in that category. Ranveer Allahbadia Oscars 2024 Announced, Check Full List of Winners Disruptor of the Year (BeerBiceps) The film “Oppenheimer” had a triumphant night at the 96th RJ Raunac (Bauaa) Most Creative Creator-Male Academy Awards, securing a remarkable seven Oscars, Shraddha Jain Most Creative Creator (Female) including some of the most prestigious categories. Aridaman Best Micro Creator Nishchay Best Creator in Gaming Category Ankit Baiyanpuria Best Health and Fitness Creator Best Creator in Education Naman Deshmukh Category Jahnvi Singh Heritage Fashion Icon Malhar Kalambe Swachhta Ambassador Gaurav Chaudhary Best Creator in Tech Category Maithili Thakur Cultural Ambassador of The Year Pankhti Pandey Favourite Green Champion Keerthika Govindasamy Best Storyteller Aman Gupta Celebrity Creator 3 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 Category Winner The Gender Inequality Index Da’Vine Joy Randolph, “The The Gender Inequality Index (GII) is a composite measure that Best Supporting Actress evaluates gender inequality across three dimensions: Holdovers” 1. Reproductive health Best Animated Short “War Is Over!” 2. Empowerment Best Animated Feature “The Boy and the Heron” 3. Labor market participation Best Original Screenplay “Anatomy of a Fall” It takes into account indicators such as maternal mortality ratio, Best Adapted Screenplay “American Fiction” adolescent birth rate, percentage of parliamentary seats held by women, population with secondary education by gender, Best Makeup and “Poor Things” and labour force participation by gender. A lower GII value Hairstyling indicates lower inequality between women and men. Best Production Design “Poor Things” The 2023-2024 HDR builds on the 2021–2022 Human Best Costume Design “Poor Things” Development Report findings, which saw the global HDI value Best International Feature “The Zone of Interest” fall for the first time—two years in a row. This report reveals Robert Downey Jr., that human development recovery is uneven in nature. While Best Supporting Actor wealthy countries are showing signs of robust recovery, the “Oppenheimer” poorest are struggling. All the member countries in the Best Visual Effects “Godzilla Minus One” Organisation for Economic Cooperation and Development Best Film Editing “Oppenheimer” (OECD) have surpassed their 2019 HDI level. But among least Best Documentary (Short developed countries, only one in two have recovered their “The Last Repair Shop” Subject) already low pre-crisis HDI levels. Best Documentary Feature “20 Days in Mariupol” Top-Ranked Countries Best Cinematography “Oppenheimer” The top-ranked countries in the GII 2022 are: Best Short Film (Live “The Wonderful Story of 1. Denmark Action) Henry Sugar” 2. Norway 3. Switzerland Best Sound “The Zone of Interest” 4. Sweden Best Score “Oppenheimer” 5. Netherlands “What Was I Made For?” Best Song India’s Progress on Gender Inequality Index from “Barbie” Cillian Murphy, Year Rank Score Best Actor “Oppenheimer” 2022 108 0.437 Christopher Nolan, Best Director 2021 122 0.490 “Oppenheimer” 2020 123 0.493 Best Actress Emma Stone, “Poor Things” 2019 122 0.501 Best Picture “Oppenheimer” 2018 127 0.501 India Jumps 14 Ranks on UNDP Gender Inequality Index India’s commitment to accelerating economic growth and improving the quality of life for its citizens is reflected in its According to the Human Development Report 2023-2024 steady progress on the Gender Inequality Index and other released by the United Nations Development Programme human development indicators. (UNDP), India has made significant progress in bridging the gender divide. The country has improved its ranking by 14 Human Development Index (HDI) positions on the Gender Inequality Index (GII) 2022 compared India’s Human Development Index (HDI) value has also increased to 0.644 in 2022, placing the country at the 134th to the previous year. spot out of 193 countries and territories. This improvement In the GII 2022, India ranked 108 out of 193 countries, with a comes after a drop in HDI value in 2021 and a flat trend over score of 0.437. This marks a significant improvement from the the past few years. 2021 ranking of 122 out of 191 countries, with a score of 0.490. Since 1990, India has made remarkable progress in human Over the past decade, India’s rank in the GII has consistently development, with increases in life expectancy, expected years improved, indicating steady progress towards achieving gender of schooling, mean years of schooling, and per-capita gross equality. national income (GNI). 4 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 GOI Approves Electric Vehicle Policy to Boost Local India’s Human Development Index ranking 134 out of 193 Manufacturing countries The Indian government made a landmark announcement on India’s position in the United Nations Human Development March 15, approving a comprehensive scheme aimed at Index (HDI) for 2022 improved slightly, ranking 134 out of 193 positioning India as a global hub for electric vehicle (EV) countries with an HDI value of 0.644. This signifies progress in manufacturing. This policy, designed by the Ministry of Commerce & Industry, seeks to entice significant investments various dimensions of human development, albeit with a from renowned global EV manufacturers into the Indian continued need to focus on women-led development, as market. The essence of the policy is to foster innovation, attract highlighted by the UNDP. investments, and make advanced technology accessible within India’s HDI Trends the country. Between 1990 and 2022, India experienced a significant Key Policy Highlights increase in its HDI value by 48.4%, from 0.434 to 0.644, placing Minimum Investment: Companies are required to invest at it in the medium human development category. The country’s least Rs 4,150 crore, with the policy not capping the HDI improvement reflects advancements in life expectancy, maximum possible investment. This move is to ensure substantial financial influx into the EV sector. education, and Gross National Income (GNI) per capita. Manufacturing Timeline: The policy allows a three-year India’s Gender Inequality Progress window for companies to establish their manufacturing India has shown progress in reducing gender inequality, ranking facilities in India, commencing commercial production of 108 out of 166 countries in the Gender Inequality Index (GII) EVs. 2022. Despite improvements, there remains a significant gender Local Sourcing: A notable feature of this initiative is the mandate for companies to achieve a 25% localisation level gap in the labor force participation rate, with a difference of by the end of the third year and 50% by the fifth year, 47.8 percentage points between women and men. promoting domestic industries and components. Performance of India’s Neighbors Import Benefits: To kickstart the transition, the Comparatively, India’s neighbors vary in their human government has permitted companies to import up to 8,000 EVs annually at a reduced customs duty of 15% on development achievements. Sri Lanka and China are ranked cars valued over $35,000. This is a significant reduction higher, categorized under the High Human Development from the current tariffs of 70% to 100%. category. Nepal and Pakistan have been ranked even lower in Incentive Caps and Conditions: The duty waiver on the HDI index. imported EVs is directly linked to the company’s investment or an equivalent incentive under the PLI Global Inequality Trends scheme (capped at Rs 6,484 crore), whichever is lower. The global HDI is projected to reach record highs in 2023, yet Furthermore, the policy outlines a limit of 40,000 EVs over inequality persists. Rich countries have achieved record levels five years, provided the investment hits the $800 million of human development, while half of the world’s poorest mark. countries remain below their pre-crisis levels, exacerbating Ensuring Compliance and Promoting Domestic Growth global inequality and stoking political polarization. To ensure that companies adhere to their commitments, a bank Key Country Rankings in HDI 2022 guarantee equivalent to the customs duty savings is required. This guarantee stands as a compliance measure, safeguarding Rank Country HDI Value Change from 2021 the policy’s objectives and ensuring that the benefits are 75 China 0.788 +0.003 accurately aligned with investments and local sourcing milestones. 78 Iran 0.780 +0.004 A Leap Towards Sustainable Mobility 78 Sri Lanka 0.780 -0.003 This policy is a strategic step towards enhancing the EV 87 Maldives 0.762 +0.009 ecosystem in India, promoting the Make in India initiative, and 125 Bhutan 0.681 +0.004 ensuring access to cutting-edge technology. It aligns with the 129 Bangladesh 0.670 +0.008 global shift towards sustainable transportation solutions, positioning India as a significant player in the EV manufacturing 134 India 0.644 +0.011 sector. Through this policy, the government aims not only to 146 Nepal 0.601 +0.010 attract foreign investments but also to stimulate domestic 164 Pakistan 0.540 +0.003 production capabilities, fostering an environment conducive to the growth of the electric vehicle industry in India. 182 Afghanistan 0.462 -0.011 5 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 These rankings highlight the varying degrees of human India has the second-largest older population globally, with 140 development across countries and underscore the need for million individuals aged 60 and above, trailing only China. The concerted efforts to address inequalities and foster inclusive report said that older Indian men, particularly those in higher development globally. age brackets, presently married, and those with an education, tend to report greater life satisfaction compared to their Finland Tops Happiness Rankings For 7th Year, Afghanistan counterparts. Ranks Last Among older Indians, factors such as dissatisfaction with living arrangements, perceived discrimination, and poor self-rated The World Happiness Report is an annual survey conducted by health are linked to lower life satisfaction. Education level, the United Nations. It ranks countries based on factors like life social caste, and contentment with living arrangements also satisfaction, GDP per capita, social support, healthy life play a significant role in life satisfaction. expectancy, freedom, generosity, and corruption. For the seventh year in a row, Finland has been named the Happiness Trends happiest country in the world. Other Nordic countries like The sharpest decline in happiness since 2006-10 was Denmark, Iceland, and Sweden also ranked among the top 10 observed in Afghanistan, Lebanon, and Jordan. happiest nations. The biggest increases in happiness were reported in the Eastern European countries of Serbia, Bulgaria, and Latvia. World’s 10 Happiest Countries in 2024 Happiness inequality increased in every region except Europe, which the report described as a “worrying trend”. Rank Country 1 Finland Factors Contributing to Finland’s Happiness According to a happiness researcher from the University of 2 Denmark Helsinki, some key factors contributing to Finland’s happiness 3 Iceland include: 4 Sweden Close connection to nature Healthy work-life balance 5 Israel Attainable understanding of success (not solely focused on 6 Netherlands financial gain) 7 Norway Strong welfare society 8 Luxembourg Trust in state authorities Low levels of corruption 9 Switzerland Free healthcare and education 10 Australia Generational Differences in Happiness Afghanistan Remains the Unhappiest Country The report found that younger generations were happier than At the bottom of the list is Afghanistan, which has been their older peers in most regions of the world, except for: plagued by a humanitarian crisis since the Taliban regained North America control in 2020. Australia New Zealand Notable Changes in Rankings In these regions, happiness among groups under 30 has The United States and Germany dropped out of the top 20 dropped dramatically since 2006-10, with older generations happiest countries for the first time, ranking 23rd and 24th, now happier than the young. respectively. Costa Rica and Kuwait entered the top 20 at positions 12 and 13. The report noted that the happiest countries no longer include any of the world’s largest countries. India’s Ranking and Factors Affecting Life Satisfaction India ranked 126 in the happiness index, the same as the previous year. Factors like marital status, social engagement, and physical health also influence life satisfaction among older Indians. Satisfaction with living arrangements emerges as a critical factor, reflecting the strong desire among older Indians to age in place and maintain autonomy and social bonds. 6 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 Banking and Financial Current Affairs Home Minister Amit Shah inaugurated the National Urban Reserve Bank Governor Shaktikanta Das recently Cooperative Finance and Development Corporation announced the forthcoming launch of an interoperable Limited (NUCFDC) in New Delhi. This umbrella organization payment system for internet banking, aimed at enhancing aims to modernize and strengthen the Urban Cooperative the efficiency of digital payments in India. This move addresses the current challenges faced by both customers Banking Sector, benefiting banks and customers alike. and merchants in net banking transactions. (Read the (Read the complete article) complete article) PB Fintech’s subsidiary, Policybazaar Insurance Brokers, The Reserve Bank of India (RBI) has announced that 30 has secured approval from the Insurance Regulatory and banks are now participating in the UDGAM portal, Development Authority of India (IRDAI) to transition from a designed for individuals to search for their unclaimed direct insurance broker to a composite insurance broker. deposits/accounts. This portal, developed by the RBI, aims This upgrade enables Policybazaar to sell reinsurance to provide a centralized platform for users to access products in addition to general and life insurance offerings, information regarding unclaimed deposits across multiple thereby enhancing insurance penetration in India. (Read banks. (Read the complete article) the complete article) Private sector life insurer Kotak Life Insurance made headlines with the launch of its latest offering, Kotak Kotak Mahindra Bank has unveiled its latest offering, the G.A.I.N. This non-linked participating product is designed to Smart Choice Gold Loan, targeting aspirational customers cater to individuals seeking long-term savings or a steady seeking convenient and flexible loan options. This new income stream. With its unique features and flexibility, product is designed to leverage the significant gold Kotak G.A.I.N aims to address the diverse financial needs reserves held by Indian households, providing an easy and of customers while ensuring robust protection for their efficient way to meet their financial needs. (Read the loved ones. (Read the complete article) complete article) The Reserve Bank of India (RBI) and Bank Indonesia (BI) The State Bank of India (SBI) has released a report have inked a Memorandum of Understanding (MoU) aimed at bolstering the utilization of local currencies – the Indian predicting that India’s GDP growth for the financial year Rupee (INR) and the Indonesian Rupiah (IDR) – for cross- 2023-24 is likely to be close to 8%. This optimistic forecast border transactions. (Read the complete article) comes after India recorded an impressive 8.4% growth in NPCI International Payments Ltd (NIPL) has partnered with the December quarter, with the National Statistical Office Nepal’s leading payment network, Fonepay Payment (NSO) revising upwards the GDP estimates for the first and Service Ltd, to enable cross-border Unified Payment second quarters of the fiscal year. (Read the complete Interface (UPI) transactions between India and Nepal. This article) collaboration aims to enhance convenience and efficiency The Reserve Bank of India has given its approval for the in transactions for tourists visiting Nepal from India. (Read merger of Fincare Small Finance Bank Ltd. with AU Small the complete article) Finance Bank, effective from April 1. The merger is IndusInd Bank, in collaboration with Mastercard, introduces ‘Indus PayWear,’ offering tokenised wearables sanctioned under Section 44A of the Banking Regulation for debit and credit cards. This innovative solution aims to Act, 1949. (Read the complete article) enhance payment flexibility, convenience, and security for The Reserve Bank of India (RBI) has taken stern action users. (Read Complete Article) against IIFL Finance by imposing an immediate ban on the On March 11, 2024, the Indian Renewable Energy approval and disbursement of gold loans. This directive Development Agency Ltd. (IREDA) celebrated its 38th comes following a comprehensive inspection of the Foundation Day, marking a significant achievement in its company’s financial position as of March 31, which journey towards promoting renewable energy revealed significant supervisory concerns in its gold loan development in India. This special occasion provided an portfolio. (Read the complete article) opportunity to reflect on IREDA’s remarkable 37-year journey and its accomplishments in the field of green After reaching an all-time high in January, Unified Payment finance. (Read Complete Article) Interface (UPI) transactions in India experienced a slight The Competition Commission of India (CCI) has approved decrease in both value and volume in February. This the merger of a financial technology company, decline, amounting to 0.7% in value and 0.8% in volume, Garagepreneurs Internet Private Limited (GIPL), with the can be attributed to various factors including technical North East Small Finance Bank (NESFB). This strategic issues at multiple banks and the shorter duration of the move aims to combine the strengths of both entities in the month. (Read the complete article) financial services sector. (Read Complete Article) 7 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 The Small Industries Development Bank of India (SIDBI) In an effort to advance cancer care in India, Axis Bank has has secured $24.5 million from the Green Climate Fund pledged a significant contribution of ₹100 crore to the (GCF) for its inaugural anchored project, the Avaana National Cancer Grid (NCG), in collaboration with Tata Sustainability Fund (ASF), valued at $120 million. This Memorial Centre. This partnership aims to bolster research, funding marks a significant milestone in climate finance innovation, and digital health adoption in oncology over and sustainability initiatives within India. (Read Complete the next five years. (Read Complete Article) Article) In January, the Reserve Bank of India (RBI) made its largest The share of private sector banks in total deposits has risen gold purchase since July 2022, acquiring 8.7 tonnes of gold. significantly, reaching 34% as of December 2023, up from This brought the RBI’s gold holding to 812.3 tonnes, up 25% at the end of the financial year 2017-18. This growth from 803.58 tonnes in December 2023. The central bank’s has been driven by aggressive interest rate offerings and move is aimed at diversifying its forex reserves and hedging improved customer relationship management strategies against foreign currency risks. (Read Complete Article) adopted by private banks. (Read Complete Article) YES Bank has forged a strategic partnership with the Indian In a strategic move to bolster its production capacity in Olympic Association (IOA) to become the Official Banking South India, automaker Tata Motors has announced plans Partner for Team India at the Paris Olympics 2024. This to set up a new manufacturing unit in Tamil Nadu. With an collaboration aims to provide comprehensive support to investment of Rs 9,000 crore over the next five years, the India’s Olympic athletes and their families. (Read Complete company aims to leverage the state’s conducive business Article) environment to propel its growth trajectory. (Read According to Financial Services Secretary Vivek Joshi, the Complete Article) insurance sector in India has received a massive Rs 53,900 crore as Foreign Direct Investment (FDI) in the last 9 years The Reserve Bank of India (RBI) has issued notices to (between December 2014 and January 2024). There are Federal Bank and South Indian Bank, directing them to currently 70 insurance companies operating in the country. halt the issuance of new co-branded credit cards. The two (Read Complete Article) banks informed the stock exchanges about this RBI imposed fines on Tamilnad Mercantile Bank (Rs 1.31 development. (Read Complete Article) crore) and DCB Bank (Rs 63.6 lakh) for non-compliance with India and the Asian Development Bank (ADB) have directives on 'Interest Rate on Advances'. (Read Complete collaboratively signed a $181 million loan agreement Article) targeting the improvement of infrastructure and services in Airtel Payments Bank, in collaboration with Noise and the peri-urban areas surrounding Ahmedabad city in Mastercard, introduces a pioneering solution for Gujarat. (Read Complete Article) contactless payments through the Airtel Payments Bank The Reserve Bank of India (RBI) has imposed a monetary Smart Watch. This innovative wearable aims to penalty of ₹1.40 crore on Bank of India for non-compliance revolutionize digital transactions, offering convenience and with certain directions issued by the central bank. (Read accessibility to urban customers. (Read Complete Article) Complete Article) Axis Mutual Fund, a prominent asset management firm Reserve Bank of India (RBI) released draft guidelines based in Mumbai, has teamed up with Enparadigm, a outlining a disclosure framework for climate-related leader in AI-driven experiential learning solutions. This financial risks applicable to various regulated entities collaboration aims to provide tailored learning journeys to (REs). These guidelines aim to ensure transparency and enhance the performance and productivity of Axis MF better management of climate risks within the financial employees across various levels. (Read Complete Article) sector. (Read Complete Article) DBS Bank India announced a lending commitment of USD The Union Government of India, in collaboration with the 250 million for new-age start-ups, demonstrating its Asian Development Bank (ADB), has finalized a $23 million dedication to fostering innovation and entrepreneurship in loan agreement aimed at bolstering the fintech landscape India’s thriving start-up ecosystem. With over 90,000 start- within the country. The agreement targets the ups and more than 100 unicorns in India as of 2024, access enhancement of access to quality fintech education and to capital remains a significant challenge for these innovation, particularly within the Gujarat International companies despite their growing resilience. (Read Finance Tec-City (GIFT-City). (Read Complete Article) Complete Article) SANY India, a top construction equipment manufacturer, SBI Cards and Payment Services Ltd, in collaboration with has forged a strategic partnership with J&K Bank to fuel Titan Company Ltd, proudly presents the Titan SBI Card, an growth and development opportunities in the region. The exclusive shopping credit card designed to offer collaboration aims to offer accessible financial solutions to unparalleled benefits to its users. With a focus on customers, facilitating the acquisition of advanced cashbacks, gift vouchers, and reward points, this card machinery for infrastructure projects. (Read Complete promises benefits worth over ₹2,00,000 annually. (Read Article) Complete Article) 8 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 PolicyBazaar, a prominent player in insurance and financial involves the transfer of 100% equity share capital of Lanco services, has unveiled plans to diversify its offerings by Amarkantak Power Limited to Adani Power Limited. (Read establishing a wholly owned subsidiary named ‘PB Pay the complete article) Private Limited.’ This subsidiary, approved by the Board of The Insurance Regulatory and Development Authority of Directors on March 20, 2024, aims to specialize in payment India (IRDAI) has designated three insurers as Domestic aggregation services, both domestically and Systemically Important Insurers (D-SIIs) for the year 2023- internationally, subject to regulatory clearances. (Read 24. These insurers, namely Life Insurance Corporation of Complete Article) India (LIC), General Insurance Corporation of India (GIC In a strategic collaboration with the National Payments Re), and New India Assurance Co Ltd, have retained their Corporation of India (NPCI), Federal Bank introduces ‘Flash D-SII status from the previous year. D-SIIs are insurers of Pay,‘ a revolutionary RuPay smart key chain facilitating significant size and market importance whose distress or contactless NCMC (National Common Mobility Card) failure could disrupt the domestic financial system. (Read payments. This innovative solution enables users to tap and the complete article) pay at metro stations and PoS terminals, ensuring swift In a significant move, the Securities and Exchange Board of transactions with enhanced security. (Read the complete India (SEBI) has cancelled the registration of Karvy Investor article) Services Ltd (KISL) as a merchant banker due to a breach The Modi government has allocated Rs 6212.03 crore to of eligibility criteria. (Read the complete article) Regional Rural Banks (RRBs) as part of the recapitalization In a strategic move, Kotak Mahindra Bank has successfully scheme on March 6. RRBs, established in 1975 and owned acquired Sonata Finance Private Limited (Sonata) for a by the Indian government, function at the regional level total consideration of approximately Rs. 537 crore. This across various states. They were set up with the objective acquisition grants Kotak Mahindra Bank full ownership of of offering fundamental banking and financial services to Sonata, bolstering its presence in the microfinance sector. rural regions, specifically targeting small and marginal (Read the complete article) farmers, agricultural laborers, artisans, and small Axis Bank has announced the introduction of digital US entrepreneurs. (Read the complete article) dollar fixed deposits (FDs) for NRI customers at the IFSC The Reserve Bank of India (RBI) has taken action against Banking Unit (IBU) at GIFT City, Gujarat. The bank has five co-operative banks for various rule violations. These become the first to offer a digital journey for opening penalties are imposed based on regulatory compliance deposits at GIFT City. (Read the complete article) shortcomings and do not question the validity of the banks’ India’s foreign exchange reserves have soared to a new transactions with customers. Navsarjan Industrial Co- peak, reaching $642.631 billion in the week ending March operative Bank Ltd, Mehsana Jilla Panchayat Karmachari 22, marking the fifth consecutive week of increase, Co-operative Bank, Halol Urban Co-operative Bank, according to the latest data from the Reserve Bank of India Stambhadri Co-operative Urban Bank and (RBI). (Read the complete article) Subramanianagar Co-operative Urban Bank. (Read the Bank of India (BoI) has disclosed the receipt of an order complete article) from the Income Tax Department, Assessment Unit, On March 26, 2024, the Competition Commission of India concerning the Assessment Year (AY) 2018-19. The order (CCI) granted approval to Adani Power Limited, a imposes a penalty of ₹564.44 crore on various subsidiary of the Adani Group, for the complete acquisition disallowances made by the bank. (Read the complete of Lanco Amarkantak Power Limited. This acquisition article) Economy Current Affairs Moody’s, the global credit rating agency, has raised its GDP Crisil Ratings predicts India’s economy to expand by 6.8% in forecast for India in 2024 to 6.8%, reflecting a positive FY25, with significant growth potential driven by domestic economic outlook. This revision is based on India’s position reforms and cyclical factors. By 2031, India aims to double as the fastest-growing economy among G20 nations, its economy to $7 trillion and achieve upper-middle-income supported by robust growth prospects and policy status. (Read the complete article) continuity. (Read the complete article) UBS anticipates a moderation in India’s real GDP growth In February, India’s service sector sustained its growth for fiscal years 2025 and 2026, projecting rates of 7% and trajectory, supported by positive demand trends. However, 6.8%, respectively. Despite this, India is expected to there was a slight moderation in growth compared to maintain its position as one of the fastest-growing global January, with the Purchasing Managers’ Index (PMI) economies. The report highlights the continuation of dropping to 60.6 from 61.8. Despite this decline, the sector growth momentum in the first three quarters of fiscal year remained well above the neutral mark of 50.0, indicating a 2024, driven by cyclical recovery and structural sharp rate of expansion. (Read the complete article) improvements. (Read the complete article) 9 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 The Index of Industrial Production (IIP) for January 2024 landscape. The report focuses on GDP growth forecasts for reflects a growth rate of 3.8%, indicating a slowdown various economies, factors influencing growth trajectories, compared to December 2023. The data, released with a six- and expectations regarding monetary policy adjustments. week lag, provides insights into the performance of various (Read the complete article) sectors within the industrial landscape of India. (Read In the third quarter of the fiscal year 2023-24, India’s Complete Article) current account balance showed a deficit of US$ 10.5 Retail inflation in February 2024 saw a decline to a four- billion, equivalent to 1.2 per cent of GDP. This marked a month low of 5.09 per cent, remaining well within the decrease from US$ 11.4 billion (1.3 per cent of GDP) in the Reserve Bank of India’s comfort zone of 6 per cent for the previous quarter and US$ 16.8 billion (2.0 per cent of GDP) sixth consecutive month. While the overall inflation figure in the same quarter of the previous fiscal year. (Read the remained relatively steady compared to January, certain complete article) items within the food basket experienced price increases. S&P Global Ratings anticipates a repo rate reduction of up (Read Complete Article) to 75 basis points by the Reserve Bank of India (RBI) Fitch Ratings has raised India’s growth forecast for FY25 to during the fiscal year 2024-25. This move aligns with 7%, up from the previous estimate of 6.5%. The upgrade is projected adjustments in US policy rates, with the majority attributed to robust domestic demand and sustained of the cuts expected in the latter half of the financial year. growth in business and consumer confidence, following a The agency also foresees similar rate adjustments in strong 8.4% expansion in Q3FY24. (Read Complete Article) Indonesia, New Zealand, and the Philippines. Factors such India’s foreign exchange reserves witnessed a significant as declining inflation, a reduced fiscal deficit, and lower surge, marking a third consecutive increase in the week US policy rates set the stage for the RBI to initiate rate ended March 8, 2024. This surge propelled the reserves to cuts, possibly around June 2024 or later. (Read the reach a two-year high of $636.1 billion, showing the complete article) highest weekly increase since July 14, 2023, according to The Indian government has outlined its borrowing strategy data from the Reserve Bank of India (RBI). (Read Complete for the first half of the fiscal year 2024-25, aiming to raise Article) Rs 7.5 lakh crore from the market through the issuance of In FY 2023-24, Gross Direct Tax collections soared to Rs. various bonds, including sovereign green bonds. (Read the 22,27,067 crore, marking an 18.74% increase from the complete article) previous year. Net collections rose by over 19.88%, with Morgan Stanley has increased its GDP growth forecast for Advance Tax contributions hitting Rs. 9,11,534 crore, up India for the financial year 2024-25 (FY25) to 6.8%, up 22.31%, showcasing robust economic growth. (Read from the previous estimate of 6.5%. This revision reflects a Complete Article) positive outlook on India’s economic trajectory, In a notable increase, India’s outward foreign direct emphasizing its strength and stability in the current cycle. investment (FDI) commitments soared to $3.47 billion in The firm also revised its growth forecast for the ongoing February 2024, marking a significant rise from the $2.82 financial year, FY24, to 7.9%. (Read the complete article) billion recorded in February 2023, and an increase from The Government e Marketplace (GeM) has witnessed a $2.18 billion in January 2024. This data, released by the remarkable growth, doubling its Gross Merchandise Value Reserve Bank of India (RBI), highlights a growing trend in (GMV) to ₹4-lakh crore in fiscal year 2023-24. CEO P K India’s financial commitments abroad. (Read Complete Singh announced plans for potential expansion, including Article) opening the portal for consumer use and enhancing its In February 2024, the All-India Consumer Price Index (CPI) services. (Read the complete article) for Agricultural Laborers and Rural Laborers remained stable, with figures of 1258 and 1269, respectively, based on the 1986-87=100 index. However, there were notable fluctuations observed among constituent states. Eight states saw a decline in the CPI-AL, while seven experienced a similar trend in the CPI-RL, with two states showing no change. (Read Complete Article) In January 2024, the index of mineral production in the mining and quarrying sector stood at 144.1, indicating a 5.9% increase compared to January 2023. The cumulative growth for April-January 2023-24 over the corresponding period of the previous year is recorded at 8.3%. (Read Complete Article) S&P Global released its Economic Outlook Asia-Pacific Q2 2024 report, offering insights into the region’s economic 10 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 Business Current Affairs Ecommerce giant Flipkart has made a significant move in State-owned Bharat Heavy Electricals Ltd (BHEL) has the digital payments space by introducing its own UPI clinched a significant order from power giant NTPC to services, Flipkart UPI, in partnership with Axis Bank. This establish a 1,600 MW Singrauli thermal power project initiative aims to provide customers with seamless (Stage-II). This underscores BHEL’s continued prowess in payment options directly integrated into the Flipkart the power generation equipment sector. (Read the platform. (Read the complete article) complete article) REC Limited, a prominent Maharatna Central Public Sector Indian Oil Corporation Ltd (IOC), the nation’s premier oil Enterprise under the Ministry of Power and a leading Non- firm, is set to revolutionize the motorsports industry by Banking Finance Company, has recently joined hands with manufacturing fuel tailored for adrenaline-pumping the Unit of Science and Educational Development Formula One (F1) racing. With its latest offering, ‘Storm’ (UNISED) to bolster educational initiatives in petrol, IOC aims to expand its repertoire of niche fuels, Siddharthnagar district, Uttar Pradesh. Through its catering to the high-performance demands of motor racing Corporate Social Responsibility arm, REC Foundation, REC enthusiasts. (Read the complete article) has pledged a significant financial assistance of Rs. 9.91 Infibeam Avenues, India’s pioneering AI-powered fintech crores for the education of approximately 75,500 children in the district. (Read the complete article) company and the country’s first listed entity in this domain, In a virtual ceremony, Finance and Corporate Affairs has achieved a significant milestone. On March 4, the Minister Nirmala Sitharaman received an interim dividend Reserve Bank of India (RBI) granted the final authorization cheque of ₹2,441.44 crore from LIC Chairman Siddhartha for Infibeam Avenues to function as a payment aggregator Mohanty, showcasing the insurance giant’s financial under its renowned payment gateway brand, CCAvenue. strength. The event also marked the inauguration of LIC’s This development follows the in-principle approval given in new international business centre at GIFT City, Gujarat, October 2022. (Read the complete article) emphasizing the company’s dedication to offering top- The Union Cabinet has sanctioned a 4% increase in notch insurance and financial services globally. (Read the Dearness Allowance (DA) and Dearness Relief (DR) for complete article) central government employees and pensioners, effective Tata Motors, India’s largest commercial vehicle from January 1. This decision aims to benefit over 10 manufacturer, has recently unveiled its next-generation, million employees and 6.79 million pensioners, with a green-fuel powered commercial vehicles to Tata Steel. combined impact on the exchequer of Rs 12,869 crore The fleet comprises Prima tractors, tippers, and the Ultra annually. (Read the complete article) EV bus, which are powered by Liquefied Natural Gas (LNG) NLCIL has emerged victorious in securing a 600 MW Solar and battery electric technologies. The flag-off ceremony Power Project tender within the GSECL Khavda Solar Park, took place during Tata Group’s Founder’s Day celebrations initiated by GUVNL through a competitive bidding process. in Jamshedpur, officiated by Mr. N Chandrasekaran, Reflecting its commitment to renewable energy initiatives, Chairman of Tata Sons. (Read the complete article) NLCIL has entrusted the project development The government of India has announced plans to sell up to responsibilities to NIGEL, its green energy wholly owned 7% of its stake in NLC India, formerly known as Neyveli subsidiary. (Read the complete article) Lignite Corp, through an Offer for Sale (OFS). This move The Department of Science and Technology (DST), in aims to raise between Rs 2,000 crore and Rs 2,100 crore, collaboration with T-Hub, has launched the Machine contributing to the government’s disinvestment goals. (Read the complete article) Learning and Artificial Intelligence Technology Hub (MATH) in Hyderabad. This initiative aims to accelerate AI Accenture, a global leader in technology consulting and services, has unveiled a strategic initiative aimed at innovation, facilitate job creation, and foster a supportive enhancing upskilling opportunities for its clients. This ecosystem for AI and ML startups. (Read the complete involves a significant investment of $1 billion over three article) years and includes the acquisition of California-based Big Bang Boom Solutions (BBBS), a homegrown IDEX edtech platform, Udacity. (Read the complete article) (Innovations for Defence Excellence) startup, clinches a Fly91, a regional airline headquartered in Goa, has reached major order exceeding Rs 200 Crores for its state-of-the-art a significant milestone in its journey with the issuance of its anti-drone technology. Signed by the Ministry of Defence Air Operator Certificate (AOC) by the Directorate General (MoD) with BBBS, this contract marks the largest under of Civil Aviation (DGCA) under the Ministry of Civil Aviation. the IDEX initiative, aimed at benefiting the Indian Army (Read the complete article) and the Indian Air Force. (Read Complete Article) 11 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 Aditya Birla Capital’s decision to merge with its wholly- Adani Green Energy announced the operationalisation of owned subsidiary, Aditya Birla Finance, is poised to reshape an additional 126 MW capacity in its 300 MW wind power the NBFC landscape in India. This strategic move not only project in Gujarat. This comes after the earlier consolidates their financial services arm but also aligns with operationalisation of 174 MW, marking a significant RBI’s regulations, avoiding the need for Aditya Birla Finance milestone for the company. (Read Complete Article) to go public. (Read Complete Article) Max India Ltd announced a strategic partnership between Tata Power Solar Systems Limited (TPSSL), a fully its subsidiary, Antara Assisted Care Services Limited, and the Indian Institute of Technology Delhi (IIT Delhi). This integrated solar company in India and a subsidiary of TPREL collaboration aims to address the challenges faced by (Tata Power Renewable Energy Limited), has achieved a India’s aging population by developing tailored solutions to significant milestone by completing the country’s largest improve their quality of life. (Read Complete Article) Solar and Battery Energy Storage Systems (BESS) project Startup Mahakumbh 2024, a groundbreaking initiative led in Rajnandgaon, Chhattisgarh. (Read Complete Article) by industry giants such as ASSOCHAM, Nasscom, Bootstrap National Institute of Electronics and Information Incubation & Advisory Foundation, TiE, and Indian Venture Technology (NIELIT) of India and the Information and Alternate Capital Association, is set to unite over 1,000 Technology Institute (ITI) of Egypt. This significant event startups, 50 unicorns, 500 incubators, and 5,000 delegates took place in Cairo, Egypt. This collaboration seeks to from 23 countries. This three-day event, supported by the bridge the gap in ICT skills, enhancing industry Department for Promotion of Industry and Internal Trade engagement and fostering meaningful international (DPIIT), aims to foster innovation and collaboration across cooperation between India and Egypt. (Read Complete various sectors, featuring prominent figures like Amitabh Article) Kant, Sivasubramanian Ramann, and Falguni Nayar. (Read Aurionpro Solutions has clinched a significant deal with the Complete Article) State Bank of India (SBI) for the license, implementation, Tata Sons, aiming to alleviate its debt, plans to sell 0.65% and support of its cutting-edge cash management and equity in Tata Consultancy Services (TCS) for ₹9,362.3 transaction banking platform, iCashpro+. Valued at nearly crore. This move precedes a potential IPO, with related stocks rallying. TCS dividends, contributing 95% of FY23 Rs 100 crore, this prestigious contract entails phased revenue, highlight its strategic importance within Tata’s delivery of license and implementation over 12 months, asset portfolio. (Read Complete Article) followed by a 6-year maintenance and support period. Reliance Consumer Products (RCPL) has solidified a (Read Complete Article) strategic partnership with Elephant House, a prominent Sri India’s Numaligarh Refinery Limited (NRL) opens its first Lankan beverage manufacturer. This collaboration aims to overseas office in Dhaka, Bangladesh, signaling its introduce, market, distribute, and sell Elephant House commitment to international expansion and stronger brand beverages throughout India, thereby augmenting regional ties. High Commissioner of India to Bangladesh, RCPL’s beverage offerings. (Read Complete Article) Pranay Verma, inaugurates NRL’s liaison office in the Grid Controller of India Limited (GRID-INDIA) has achieved presence of NRL managing director Bhaskar Jyoti Phukan a significant milestone by being conferred with the status and other dignitaries. (Read Complete Article) of Miniratna Category-I Central Public Sector Enterprise Reliance Industries, India’s largest private company, has (CPSE). This recognition was bestowed upon by the announced its acquisition of Paramount Global’s entire Ministry of Power, Government of India, highlighting 13.01% stake in Viacom 18 Media for Rs 4,286 crore ($517 GRID-INDIA’s pivotal role in the nation’s power landscape. million). This significant transaction underscores Reliance’s (Read Complete Article) strategic positioning in the media industry, further The National Internet Exchange of India (NIXI) is gearing solidifying its presence in the competitive market. (Read up to introduce the BhashaNet portal during the upcoming Universal Acceptance (UA) Day. This initiative aims to Complete Article) advance digital inclusion and linguistic diversity in India, The Department for Promotion of Industry and Internal showcasing collaborative efforts between NIXI and the Trade (DPIIT) releases the monthly Wholesale Price Index Ministry of Electronics and Information Technology (WPI) for India. This report provides crucial information on (MeitY). (Read Complete Article) price changes in various sectors of the economy, aiding in In a significant move, the Gujarat Cooperative Milk economic analysis and policy formulation. The WPI for Marketing Federation (GCMMF), the organization behind February 2024, with a base year of 2011-12, reflects a the iconic Amul brand, is set to launch its fresh milk 0.20% provisional annual inflation rate, driven primarily by products in the United States for the first time. This increases in food articles, crude petroleum & natural gas, expansion marks a major milestone for the brand, as it aims electricity, machinery & equipment, and motor vehicles, to cater to the Indian diaspora and Asian population in the trailers & semi-trailers. (Read Complete Article) US. (Read the complete article) 12 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 PepsiCo, the U.S. food and beverage giant, has committed In a remarkable move, two of India’s richest businessmen, to investing an additional $400 million in Vietnam. This Mukesh Ambani and Gautam Adani, have joined forces for decision was made public during a visit by delegations from the first time. Reliance Industries, owned by Ambani, has over 60 U.S. enterprises, including Suntory PepsiCo acquired a 26% stake in a power project owned by Adani’s Vietnam Beverage, to Vietnam last week. (Read the company in Madhya Pradesh. (Read the complete article) complete article) The Index of Eight Core Industries (ICI) witnessed a Innoviti Payments and Concerto Software have received significant 6.7% increase (provisional) in February 2024 payment aggregator (PA) licences from the Reserve Bank compared to the same month in 2023. This growth was of India (RBI), marking significant milestones in the digital payments landscape of India. Innoviti operates the PA driven by positive performances across various sectors, ‘Innoviti Link’, serving 2,500 online merchants, while including Coal, Natural Gas, Cement, Steel, Crude Oil, Concerto Software’s gateway ‘Vegaah’ joins the league of Electricity, and Refinery Products. (Read the complete authorized PA solutions. (Read the complete article) article) Adani Ports and Special Economic Zone (APSEZ), a Tata Passenger Electric Mobility (TPEM), a unit of Tata subsidiary of the Adani Group, has acquired a controlling Motors, has announced a strategic partnership with 95% stake in Gopalpur Port located in Odisha. The deal, Hindustan Petroleum Corporation Ltd (HPCL) to establish a valued at Rs 3,350 crore, solidifies APSEZ’s position in the nationwide network of 5,000 public charging stations for ports and logistics sector. (Read the complete article) electric vehicles (EVs) by the end of 2024. (Read the Wipro-GE Healthcare, a prominent player in medical complete article) technology and digital solutions, is set to invest Rs 8,000 The Adani Group has announced the start of the first phase crore over the next five years in India. This investment aims of the world’s largest single-location copper manufacturing to strengthen its manufacturing output and research and development capabilities. The company’s focus is on plant at Mundra in Gujarat. The facility, owned by Kutch expanding its ‘Make in India for the World’ initiative, Copper (a subsidiary of Adani Enterprises Ltd), will help emphasizing increased localization and exports of medical reduce India’s dependence on copper imports and support equipment. (Read the complete article) the energy transition. (Read the complete article) International Current Affairs Tuvalu has named Feleti Teo, the former Attorney General, Sweden formally became the 32nd member of NATO after as the Pacific Island nation’s new prime minister. This completing its accession process in Washington. This appointment comes in the aftermath of a general election decision comes two years after Sweden’s application, that placed the country’s diplomatic affiliations, especially triggered by Russia’s full-scale invasion of Ukraine, its ties with Taiwan, under intense scrutiny. (Read the highlighting concerns about regional security. (Read the complete article) complete article) Panama has officially become the 97th member of the Dubai witnessed an extraordinary event with the city- International Solar Alliance (ISA). This milestone was state’s inaugural jet suit race. Organized by Gravity announced by Randhir Jaiswal, the spokesperson for the Industries in collaboration with the Dubai Sports Council, Ministry of External Affairs (MEA). Panama’s accession this groundbreaking competition showcased pilots underscores the country’s commitment to embracing equipped with jet engines on their hands and backs, sustainable energy sources and marks a crucial step in the resembling real-life ‘Iron Men’. (Read the complete article) global march towards a greener future. (Read the In a groundbreaking move, France has made history by complete article) becoming the first nation globally to anchor the right to The Indian Consulate in Dubai has introduced a new abortion within its constitution. This decision represents a insurance package called the Life Protection Plan (LPP) for significant advancement in the protection of reproductive Indian blue-collar workers in the United Arab Emirates rights, sparking a mix of applause and criticism across (UAE). This plan aims to provide financial benefits to the different spectrums of society. (Read the complete article) families of the workers in case of natural or accidental deaths. (Read the complete article) Hungary’s parliament recently appointed a new president Hong Kong has introduced a new national security law following the resignation of the previous head of state draft. The proposed legislation, covering treason, amidst a scandal involving a controversial pardon granted espionage, and external interference, signifies a significant in a child sexual abuse case. The appointment of Tamás increase in state authority in the region. This development Sulyok, a former head of Hungary’s Constitutional Court, arises amidst a wider crackdown on dissent, resulting in sparked debate among opposition parties calling for direct pro-democracy figures being imprisoned or exiled. (Read presidential elections. (Read the complete article) the complete article) 13 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 Asif Ali Zardari took oath as Pakistan’s 14th President The United States, the United Kingdom, and Australia following his overwhelming victory in the presidential have forged the AUKUS partnership to bolster trilateral election. (Read Complete Article) security and construct nuclear-powered submarines for China recently announced a new territorial sea baseline in the Royal Australian Navy. This landmark agreement the northern part of the Gulf of Tonkin, shared with signifies a significant advancement in defense collaboration Vietnam, sparking concerns about potential impacts on among the three nations. (Read Complete Article) existing agreements and regional stability. (Read Complete Simon Harris, a prominent figure in Irish politics, has Article) emerged as the sole candidate in the race to become In a landmark gathering in Yaoundé, Cameroon, health Ireland’s next prime minister following the unexpected ministers from 11 African nations, along with global departure of Leo Varadkar. At 37 years old, Harris is poised malaria partners and stakeholders, convened to address to become the youngest prime minister in Ireland’s the escalating malaria crisis in Africa. Despite available history. (Read Complete Article) tools and systems, malaria cases surged globally, with The Francis Scott Key Bridge in Baltimore collapsed early Africa bearing the brunt, accounting for 94% of cases and on March 26 after a container ship collided with a pylon, 95% of deaths in 2022. (Read Complete Article) resulting in the presumed death of six individuals who fell The naval forces of China, Iran, and Russia launched a joint into the cold waters below. The incident has halted exercise near the Gulf of Oman, aimed at safeguarding operations at one of the busiest ports on the U.S. Eastern regional maritime security. The “Security Belt-2024” Seaboard. (Read the complete article) exercise marks the fourth time these countries have After eight years of Socialist rule in Portugal, Luis conducted such a drill since 2019. (Read Complete Article) Montenegro, leader of the centre-right Democratic Alliance President Mahmoud Abbas of the Palestinian Authority (AD), has been appointed as the new prime minister. (PA) has appointed Mohammad Mustafa as the new Prime However, his minority government faces challenges due to Minister. Mustafa, a U.S.-educated economist, is one of the his refusal to ally with the far-right Chega party. (Read the leading Palestinian business figures with a track record of complete article) overseeing Gaza’s reconstruction efforts under Hamas’ Rumi Alqahtani, a 27-year-old model and influencer from rule. (Read Complete Article) Saudi Arabia, announced on Instagram that she will be the Britain has recently conducted successful test firings of its first participant from the country in the Miss Universe DragonFire Laser Directed Energy Weapon (LDEW), competition. Alqahtani was born in Riyadh and has showcasing its capability to intercept enemy aircraft and previously won the titles of Miss Saudi Arabia, Miss Arab missiles at a remarkably low cost. A January demonstration World Peace 2021, and Miss Woman (Saudi Arabia). This in Scotland displayed the laser’s precision in targeting and will be the Kingdom of Saudi Arabia’s first appearance in destroying aerial threats, marking a potential game- the Miss Universe pageant. (Read the complete article) changer in air defense technology. (Read Complete Article) Bassirou Diomaye Faye, an anti-establishment figure, has Russian President Vladimir Putin clinched victory in the won the Senegalese presidential election with 54.28 per recent election with a commanding lead of 76.1% of the cent of the votes in the first round. At 44 years old, Faye is vote, as per preliminary results. This win marks Putin’s set to become Africa’s youngest elected president and the continued dominance in Russian politics, now extending his first opponent to win in the first round since Senegal’s tenure to a total of 24 years in power. (Read Complete independence from France in 1960. His victory still needs Article) to be validated by Senegal’s Constitutional Council in the In a move to boost its tourism industry, the government of next few days. (Read the complete article) Nepal has officially declared Pokhara, a city in the Gandaki Thailand’s lower house of Parliament has passed a province, as the tourism capital of the Himalayan nation. groundbreaking bill to legalize same-sex marriage, marking The declaration was made during a special ceremony held at the Barahi Ghat on the shores of the Phewa Lake. (Read a significant step towards equality in Southeast Asia. The Complete Article) legislation, an amendment to the Civil and Commercial Vaughan Gething, who currently serves as the Economic Code, garnered overwhelming support in the House of Minister of Wales, has been elected as the new leader of Representatives. (Read the complete article) the Welsh Labour Party. His victory marks a historic Florida Governor Ron DeSantis has signed a bill that milestone as he becomes the first ever Black person to prohibits minors under 14 from having social media lead a European country. (Read Complete Article) accounts. The law requires parental permission for 14- and The New Zealand government has announced a ban on 15-year-olds to create accounts on platforms like Meta, disposable e-cigarettes or vapes. The move comes less TikTok, and others. All social media users in Florida must than a month after the country repealed a law that aimed submit identification documents to verify their ages. (Read to phase out tobacco smoking. (Read Complete Article) the complete article) 14 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 National Current Affairs Observed every year on March 3, World Hearing Day 2024 Minister Hardeep Singh Puri, overseeing Petroleum and fall on a Sunday. The theme for this year, as designated by Natural Gas as well as Housing and Urban Affairs, dedicated the World Health Organization (WHO), is “Changing 201 CNG Stations and India’s inaugural Small Scale LNG mindsets: Let’s make ear and hearing care a reality for Unit of GAIL to the nation via video conferencing. The all.” This theme underscores the need to combat societal event, graced by numerous dignitaries, underscored the misconceptions and stigmatizing attitudes through government’s pledge to elevate the share of natural gas in heightened awareness and the dissemination of the primary energy basket to 15% by 2030. (Read the information, targeting both the general public and complete article) In a significant development, the Indian government, healthcare providers. (Read the complete article) following consultations with the Election Commission of Union Minister for Minority Affairs, Smriti Zubin Irani, India (ECI), has revised the minimum age criterion for introduced two significant initiatives aimed at enhancing senior citizens to avail the postal ballot voting facility. The the Haj pilgrimage experience for 2024. The Haj Suvidha decision, which comes into effect immediately, raises the App was launched to provide essential information and eligibility age from 80 to 85 years, marking a pivotal change access to crucial services, while the Haj Guide-2024 was in the electoral process aimed at ensuring greater released to educate pilgrims about various aspects of the convenience for the nation’s elderly population. (Read the journey, with a focus on utilizing the app effectively. (Read complete article) the complete article) India’s first National Dolphin Research Center (NDRC) was Union Minister for Steel and Civil Aviation, Sh. Jyotiraditya officially inaugurated by Bihar Chief Minister Nitish Kumar. M. Scindia, virtually inaugurated India’s 1st Green This landmark facility, built at a cost of Rs 30 crore, is Hydrogen Plant in Stainless Steel Sector located at Jindal situated on the banks of the Ganges River within the Patna Stainless Limited, Hisar, on 4th March, 2024. The University campus. (Read the complete article) inauguration also witnessed the presence of Secretary, A new chapter in management education unfolds as the Ministry of Steel Sh. Nagendra Nath Sinha, Managing Union Minister for Education, Skill Development & Director (Jindal Stainless Limited), Sh. Abhyuday Jindal, Entrepreneurship, Shri Dharmendra Pradhan, inaugurated Founder, Hygenco Sh. Amit Bansal, and other officials of the Centre of Management Education jointly established the Ministry of Steel. (Read the complete article) by IIM Mumbai and IIM Sambalpur. The inauguration took place at the NALCO Training Institute in Angul, Odisha, Union Minister of Chemicals and Fertilisers and Health and amidst the presence of Shri Sridhar Patra, CMD, NALCO. Family Welfare, Dr. Mansukh Mandaviya, virtually (Read the complete article) inaugurated three centers of the Central Institute of Prime Minister Narendra Modi inaugurated India’s Petrochemicals Engineering & Technology (CIPET) from pioneering underwater metro train service in Kolkata, New Delhi. These centers, located in Himachal Pradesh, ushering in a landmark achievement in the nation’s Jharkhand, and Madhya Pradesh, are significant additions infrastructure and urban development. The service, which to CIPET’s network. (Read the complete article) is a significant component of the Kolkata Metro’s East- Prime Minister Narendra Modi marked the beginning of a West corridor, is designed to enhance connectivity new era in India’s nuclear energy sector by witnessing the between Howrah and Salt Lake, the twin cities of West “Core Loading” at the Prototype Fast Breeder Reactor Bengal’s capital. (Read the complete article) (PFBR) in Kalpakkam, Tamil Nadu. This event signifies the near completion of India’s first indigenous PFBR, a landmark project fully designed and constructed within the country by Bharatiya Nabhikiya Vidyut Nigam Limited (BHAVINI), in collaboration with over 200 Indian industries, including numerous MSMEs. (Read the complete article) In a significant stride towards bolstering cyber-security measures and enhancing citizen empowerment, the Department of Telecommunications (DoT) recently unveiled the Digital Intelligence Platform (DIP) alongside the ‘Chakshu’ facility on the Sanchar Saathi portal. This initiative aims to foster collaboration among stakeholders to combat the misuse of telecom resources in cyber-crime and financial frauds. (Read the complete article) 15 www.bankersadda.com | www.sscadda.com | www.careerpower.in | Adda247 App  Current Affairs | March 2024 In a significant development, Union Minister Ashwini tunnel is situated on the road from Tezpur, Assam, to Vaishnaw will inaugurate the ‘NITI For States’ platform by Tawang in Arunachal Pradesh’s West Kameng district. The NITI Aayog in New Delhi. This platform, serving as a Digital project, valued at Rs 825 crore, aims to provide all-weather Public Infrastructure (DPI), is designed to bolster policy connectivity and bolster the Armed Forces’ readiness in the formulation and promote good governance across states. region. (Read Complete Article) (Read the complete article) Prime Minister Narendra Modi unveiled a 125-foot bronze India, as a party to the Convention on International Trade statue of the legendary Ahom general, Lachit Borphukan, in Endangered Species of Wild Fauna and Flora (CITES), has at his burial site in eastern Assam’s Jorhat district. This recently implemented stringent measures to regulate the event marks a significant tribute to Borphukan’s valor and possession and trade of exotic pets. The Living Animal leadership in the history of Assam. (Read Complete Article) Species (Reporting and Registration) Rules, 2024, issued At the end of the decade from 2014 to 2024, India has by the Union environment ministry on February 28, aim to emerged as the world’s second-largest producer of mobile enforce the provisions of the Convention and ensure the phones. This achievement marks a significant transition for protection of endangered wildlife. (Read the complete the country’s electronics manufacturing sector. (Read article) Complete Article) Prime Minister Narendra Modi has unveiled his ambitious Prime Minister Narendra Modi inaugurated the Gurgaon plan to make India a prime wedding destination, aiming to stretch of the Dwarka Expressway alongside Haryana CM boost tourism and retain revenue within the country. His Manohar Lal Khattar and Union Minister Nitin Gadkari. recent address at a rally in Jammu and Kashmir highlighted The inspection of the expressway was conducted on foot, this mission, emphasizing the potential of hosting weddings showcasing its significance for transportation in diverse locales across India. (Read the complete article) infrastructure. (Read Complete Article) Union Minister of Agriculture and Farmers’ Welfare, Arjun Union Home Minister Amit Shah inaugurated the Munda, unveiled the Agriculture Integrated Command and commencement of Piped Natural Gas (PNG) facilities in 41 Control Centre at Krishi Bhawan, New Delhi. This initiative villages and various development projects in 178 villages aims to empower farmers nationwide by providing them under the ‘Dilli Gramodaya Abhiyan’. The initiative aims to uplift the infrastructure and living standards in rural areas with essential information, services, and facilities. (Read of Delhi. (Read Complete Article) the complete article) Union Minister for Communications, Electronics, and On the occasion of the 134th Foundation Day of the Information Technology and Railways, Ashwini Vaishnaw, National Archives of India, Minister of State for unveiled India’s fastest and indigenously developed Parliamentary Affairs and Culture, Arjun Ram Meghwal, will IP/MPLS (Multiprotocol Label Switching) router in inaugurate a digital exhibition titled “Subhash Bengaluru. (Read Complete Article) Abhinandan” in New Delhi on March 11th. Organized by Prime Minister Narendra Modi made headlines by the National Archives of India, the exhibition inaugurating 15 significant airport projects, marking an commemorates the life of Subhash Chandra Bose, featuring unprecedented infrastructural addition in Uttar Pradesh’s 16 sections covering key aspects from his birth to the Azamgarh. This extensive initiative, almost valued at present day. (Read the complete article) ₹10,000 crore, encompasses a blend of new airports, The Ministry of Women and Child Development will expanded terminals, foundation stones for future airports, organize Poshan Pakhwada nationwide from March 9 to and other ancillary facilities. (Read Complete Article) March 23, 2024. This 15-day celebration aims to spread National Commission for Protection of Child Rights awareness about nutrition, dietary practices, and (NCPCR) celebrated its 19th Foundation Day at the women’s health. (Read the complete article) Jacaranda Hall, Indian Habitat Centre, New Delhi. To mark Prime Minister Narendra Modi inaugurated projects worth this special occasion, the Commission invited children from Rs 118 crore 72 lakh in Madhya Pradesh through video different parts of the country to acknowledge their efforts conferencing. These projects are under the Swadesh and participation in the Commission’s Pariksha Parv Darshan 2.0 scheme and the Prasad scheme. (Read the campaign. (Read Complete Article) complete article) Prime Minister Narendra Modi visited Sabarmati Ashram to Prime Minister Narendra Modi, during the Viksit Bharat inaugurate Kochrab Ashram and launch the Master Plan of Viksit North East programme in Itanagar, Arunachal the Gandhi Ashram Memorial. This significant event Pradesh on March 09, 2024, virtually dedicated the Sela commemora