02 Mar 24

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Important Monthly Current Affairs Capsule – March 2024
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S. No Topics Page No
1. IMPORTANT DAYS 03
2. BANKING AND ECONOMY 09
3. CABINET APPROVALS 73
4. NATIONAL NEWS 78
5. INTERNATIONAL NEWS 102
6. STATE NEWS 107
7. BUSINESS NEWS 118
8. APPOINTMENTS & RESIGNATIONS 131
9. ACQUISITIONS & MERGERS 154
10. AWARDS AND HONOURS 158
11. MOUS AND AGREEMENT 167
12. SCIENCE & TECHNOLOGY 180
13. RANKING AND INDEXES 190
14. DEFENCE NEWS 194
15. BOOKS AND AUTHORS 205
16. SPORTS NEWS 205
17. OBITUARIES 213
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IMPORTANT DAYS
Zero Discrimination Day: 1st March
 Zero Discrimination Day 2024 is celebrated on March 1st, 2024.
 The theme for Zero Discrimination Day 2024 is “To protect everyone's health, protect everyone's
rights.”
 Zero Discrimination Day was first celebrated and observed on March 1st, 2014.
 Zero Discrimination Day was launched by UNAIDS.
World Civil Defence Day: 1st March
 World Civil Defence Day 2024 is observed on the 1st of March 2024
 In 1958, the International Association of Geneva Zones became the International Civil Defence
Organization (ICDO) and was given a new status as a non-governmental organization with
objectives such as establishing a liaison between national civil defence organizations, undertaking
and promoting studies and research on population protection matters, and facilitating the exchange
of experience and the coordination of efforts in the area of disaster prevention, preparedness, and
intervention.
Self Injury Awareness Day: 1st March
 Self Injury Awareness Day 2024 is observed on the 1st of March 2024
 The Self-Injury Awareness Day (SIAD) is a global event that is conducted every year on March 1st.
 The history and origin of Self Injury Awareness Day are not known properly but the day was
celebrated more than 20 years on 1st March.
Employee Appreciation Day: 1st March
 Employee Appreciation Day 2024 is observed every year on the 1st Friday of March, so, for this
year it is observed on March 1st, 2024.
 Employee Appreciation Day 2024 is an annual event that focuses attention on employees in all
industries.
 Employee Appreciation Day is an unofficial holiday observed on the first Friday of March.
World Wildlife Day: 3rd March
 World Wildlife Day 2024 is celebrated on March 3rd, 2024.
 The 2024 theme, “Connecting People and Planet: Exploring Digital Innovation in Wildlife
Conservation”.
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 It commemorates the day of the signature of the Convention on International Trade in endangered
species of wild fauna and flora. World Wildlife Day 2024 is a great opportunity to celebrate many
beautiful and various flora and fauna species.
 The United Nations General Assembly (UNGA) declared March 3, at its 68th session, the day of
the adoption of the Convention on International Trade in Endangered Species of Wild Fauna and
Flora(CITES).
World Hearing Day 2024: 3rd March

 World Hearing Day is announced to be celebrated on March 3rd, 2024.
 It is observed to raise public awareness about how to avoid deafness and hearing impairment, as
well as to support ear and hearing care around the world.
 In 1870 Hearing educators eliminated sign language and agreed to embrace oral teaching at the
Second International Congress on Deaf Education in Milan, Italy.
 The World Health Organisation (WHO) created a holiday to raise awareness to avoid deafness in
2007 and the holiday was renamed from International Ear Care Day to World Hearing Day in 2016.
National Safety Day: 4th March
 National Safety Day 2024 is celebrated on March 4th, 2024.
 To create awareness about the importance of all guidelines like safety, workplace safety, and the
safety of human health and the environment the National Safety Day 2024 is celebrated every year
on 4th March.
 In 1965, a decision was taken to set up national and state-level Safety Councils by the Ministry of
Labour and Employment and the Standing Labour Committee’s session approved this in February
1966.
World Sustainable Energy Days 2024: 5 - 8th March
 World Sustainable Energy Day 2024 is observed on 5 - 8th March across the world.
 It hosts events centred on sustainable energy production and use, which cover energy efficiency
and renewable energy sources for buildings, industry, and transport.
 In her 2020 State of the Union address, President of the European Commission Ursula von den
Leyen proposed the emissions reduction target be set at 55%, alongside a revision of the EU’s
climate and energy legislation.
International Women’s Day: 8th March
 International Women’s Day 2024 is celebrated on 8th March 2024.
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 The International Women’s Day 2024 theme is “Invest in women: Accelerate progress”
 In 1869, Susan B. Anthony and Elizabeth Cady Stanton started the National Women’s Suffrage
Association to fight for women's rights.
CISF Raising Day: March 10
 CISF Raising Day is celebrated on 10th March 2024.
 The Central Industrial Security Force (CISF) is one of the Central Armed Police Forces in India.
 CISF is a unique organization in the paramilitary forces of India, which works to provide security
cover to over 300 industrial units, government infrastructure projects, and facilities and
establishments located all over India.
 CISF was formed on March 10, 1969, under the CISF Act of the Parliament of India.
National No Smoking Day: 13th March
 National No Smoking Day 2024 is observed on 13th March 2024 (the Second Wednesday of
March)
 The National No Smoking Day 2024 theme is, "Protecting children from tobacco industry
interference".
 The first National No Smoking Day was in 1984, and it now takes place on the second Wednesday
of March to encourage people all over the world to quit smoking.
 According to the researchers, this effort has proven very effective, and was observed that at least
one in ten people gave up smoking on National No Smoking Day.
International Day of Action of Rivers 2024: March 14
 International Day of Action of Rivers 2024 is an international event celebrated on March 14th,
2024.
 The International Day Of Action For Rivers 2024 theme is 'Water for All', which demands that the
rivers be declared a national asset.
 The International Day of Action Against Dams and For Rivers, Water and Life was adopted by the
participants of the First International Meeting of People Affected by Dams in March 1997 in
Curitiba, Brazil, according to internationalrivers.org.
PI Day 2024: March 14th 2024

 PI Day 2024 is observed on March 14th, 2024.
 It is an international event observed all over the world on the 14th of March every year. It is a day
to celebrate the mathematical constant pi (π) and to eat lots of pie.
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 Pi Day 2024 celebrates the mathematical constant π (3.14).

 An American Physicist Larry Shaw organized the first Pi Day in 1988 at the San Francisco
Exploratorium.
World Kidney Day: March 14
● World Kidney Day is observed on the second Thursday of March, every year.
● This year it falls on March 14.
● World Kidney Day aims to create awareness about the importance of healthy kidneys and how one
can maintain kidney health and prevent kidney-related diseases.
● The theme for the 2024 campaign is 'Kidney Health For All.'
World Sleep Day 2024: March 15
● On 15th March 2024, World Sleep Day 2024 is observed all over the world.
● World Sleep Day is an annual event, intended to be a celebration of sleep and a call to action on
important issues related to sleep, including medicine, education, social aspects, and driving.
● World Sleep Day was founded by the World Sleep Day Committee of the World Sleep Day Society in
2008.
● The first World Sleep Day was held on 14 March 2008.
World Consumer Rights Day 2024: March 15

● World Consumer Rights Day 2024 is observed all over the world on March 15th, 2024.
● It is a global event that aims to raise awareness about consumer rights and needs.
● World Consumer Rights Day was inspired by President John F Kennedy, who sent a special
message to the US Congress on 15th March 1962, in which he formally addressed the issue of
consumer rights.
National Vaccination Day: March 16
● On 16th March 2024, National Vaccination Day is observed all over India.
● It is a national event celebrated annually since 1995 on the 16th of March every year.
● National Vaccination Day is celebrated every year in the country on March 16 as on the same day
the first dose of Oral Polio Vaccine was given in India in 1995.
Ordnance Factories Day 2024: March 18
● Ordnance Factories Day 2024 is observed on the 18th of March 2024.
● The East India Company of England, to increase their economic interest and political hold,
considered manufacturing military hardware as a vital element.
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● The British authorities in 1775 established a Board of Ordnance in Fort William, Kolkata, which
marks the official beginning of the Army Ordnance in India.
● They further set up a gunpowder factory in 1787 at Ishapore, which started production in 1791.
International Day of Happiness: March 20
● International Day of Happiness 2024 is observed on the 20th of March 2024.
● Back in 2011, the idea was introduced to the United Nations by the advisor Jayme Illien. Illien also
founded the United Nations New Economic Paradigm project and ‘happytalism’, which aim to
change the way nations approach economic growth by focusing on ‘happytalism’ over capitalism.
● The General Assembly of the United Nations agreed with the proposal and officially founded the
International Day of Happiness in July 2012, with the occasion first being observed in 2013.
World Oral Health Day 2024: March 20
● World Oral Health Day 2024 is observed on the 20th of March 2024.
● WOHD was first declared and originally celebrated on September 12, 2007, however, the campaign
came into action in 2013.
World Sparrow Day: March 20
● World Sparrow Day is observed on 20th March.
● World Sparrow Day was first observed in 2010, marking the beginning of a campaign to save these
chirpy little birds.
● The Nature Forever Society was founded by an Indian conservationist Mohammad Dilawar who
started his work helping house sparrows in Nashik.
● For his efforts, he was named ‘Heroes of Environment’ for 2008 by Time Magazine.
World Poetry Day: March 21
● World Poetry Day 2024 is celebrated all over the world on the 21st of March 2024.
● The earliest poetry is believed to have surfaced with the “Epic of Gilgamesh” sometime during 2000
B.C., but it is likely that poetry existed even before the spread of literacy.
● The day was proposed and adopted by UNESCO in 1999, on the occasion of its 30th General
Conference held in Paris to “give fresh recognition and impetus to national, regional and
international poetry movements.”
● On March 21st,2000 the first World Poetry Day was celebrated.
World Down Syndrome Day: March 21
● World Down Syndrome Day 2024 is celebrated all over the world on the 21st of March 2024.
● In 2005, the UN’s general assembly decided that in fulfilling the UN’s Sustainable Development Goal
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no one should be left behind and persons with disabilities must also come forward to help the UN in
its targets of Agenda 2030.
● The convention was then opened for signatures on 30 March 2007.
World Forestry Day: March 21
● World Forest Day 2024 is celebrated all over the world on the 21st of March 2024.
● Previously, the 16th session of the Conference of the Food and Agriculture Organization (FAO)
voted for “World Forestry Day" in 1971.
● Then, from 2007 to 2012, the Center for International Forestry Research (CIFOR) held six Forest
Days.
World Water Day 2024: March 22

● World Water Day 2024 is celebrated all over the world on March 22nd, 2024.
● The day is used to advocate for the sustainable management of freshwater resources.
● The idea for this international day goes back to 1992, the year in which the United Nations
Conference on Environment and Development in Rio de Janeiro took place.
● That same year, the United Nations General Assembly adopted a resolution by which 22 March of
each year was declared World Day for Water, to be observed starting in 1993.
World Meteorological Day 2024: March 23
● World Meteorological Day is celebrated on March 23 every year all over the world and it is an annual
event.
● The day is celebrated as the establishment of the World Meteorological Organization (WMO), and it
concentrates on the behaviour of Earth’s atmosphere.
● In 1873, The First Weather Organization was formed and the International Meteorological
Association was formed to exchange information about weather across national borders.
● On March 23rd, 1953, The International Meteorological Organization became the World
Meteorological Organization, which it still is today.
● On March 23rd, 1961, The first World Meteorological Day was observed, on the anniversary of the
organization’s creation.
World Tuberculosis (TB) Day 2024: March 24
● World Tuberculosis Day, observed on 24 March each year all over the world, is designed to build
public awareness about the global epidemic of tuberculosis and efforts to eliminate the disease.
● World Tuberculosis (TB) Day continues with the theme “Yes! We can end TB”.
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● On March 24, 1882, Dr. Robert Koch announced the discovery of Mycobacterium tuberculosis, the
bacteria that causes tuberculosis (TB).
International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade 2024:
March 25
● On March 25th, International Day of Remembrance of the Victims of Slavery and the Transatlantic
Slave Trade 2024 is celebrated all over the world.
● International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is a
United Nations international observance designated in 2007 to be marked on 25 March every year.
International Day of the Unborn Child 2024: March 25
● On March 25th, International Day of the Unborn Child 2024 is celebrated all over the world.
● International Day of the Unborn Child was established by Pope John Paul II to coincide with the
Feast of the Annunciation and is officially recognized in several predominantly Catholic countries.
● El Salvador was the first country to recognize a Day of the Right to Be Born, which was established
in 1993.
Purple Day of Epilepsy- March 26
● Purple Day of Epilepsy is a global awareness campaign for epilepsy held annually on March 26.
● The day is dedicated to educating people about epilepsy, a neurological condition that affects
millions worldwide.
● Cassidy Megan, a young Canadian girl diagnosed with epilepsy, started Purple Day in 2008 to raise
awareness about the condition.
● The first Purple Day was held on March 26th, 2008, and witnessed enthusiastic participation in
Canada.
● In 2009, Cassidy Megan and the Epilepsy Association of The Maritimes joined forces with The Anita
Kaufmann Foundation to launch Purple Day internationally.
World Theatre Day: March 27
● World Theatre Day is celebrated every year on March 27.
● In 1961, the International Theatre Institute (ITI) proposed that there should be a day every year to
celebrate the importance of theatre.
BANKING & FINANCE

RBI Grants Final Approval for Amazon Pay to Operate as Payment Aggregator
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 Amazon Pay, the financial technology division of e-commerce giant Amazon, has secured the
esteemed payment aggregator (PA) license from the Reserve Bank of India (RBI), marking a
significant milestone in its operations.
 The regulatory approval permits the payments platform to function as a payment aggregator,
empowering it to facilitate e-commerce transactions through its application.
 The fintech firm joins a list of companies that the central bank has granted authorisation to operate
as payment aggregators (PA) in 2023.
Government Spending Realignment to Lower Debt-GDP Ratio to 73.4% by 2030-31: RBI Report
 A strategic realignment of government spending is expected to lead to a decline of the general
government debt-gross domestic product (GDP) ratio to 73.4% by 2030-31 from an estimated
81.6% in 2023-24, according to a report by the Reserve Bank of India which is in contrast to
advanced and emerging economies where the ratio is expected to go up.
 The general government debt to GDP ratio is 81.6% of GDP in 2023-24 (BE).
 This projection stands notably lower than the IMF's estimate of 78.2%.
RBI Extends Export Credit Interest Equalisation Scheme Until June 30, 2024
 Government of India (GoI) has allowed for the extension of the Interest Equalization Scheme for
Pre and Post-Shipment Rupee Export Credit ('Scheme') up to June 30, 2024.
 Under this extension, Manufacturers and Merchant Exporters dealing with specified 410 HS lines
will benefit from a 2 percent interest equalization rate, while MSME manufacturers exporting under
any HS line will receive a higher rate of 3 per cent.
IndusInd Bank Collaborates with Uttar Pradesh Government for Livestock Welfare Program
 IndusInd Bank and Bharat Financial Inclusion Limited (100% subsidiary of IndusInd Bank) have
signed a Memorandum of Understanding (MoU) with the State Government of Uttar Pradesh to
focus on livestock healthcare management and welfare in the Western Uttar Pradesh region
through their social initiative, Bharat Sanjeevani Program.
 Through this association, IndusInd Bank and Bharat Financial Inclusion Limited (100% subsidiary
of IndusInd Bank) will extend comprehensive operational support for the newly established Cow
Sanctuary in Muzaffarnagar and a doorstep tele-medicine and mobile veterinary service under the
CSR umbrella – Sattvam.
About IndusInd Bank :
 Founded : April 1994
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 Headquarters : Mumbai, Maharashtra, India

 MD & CEO : Sumant Kathpalia.
 Tagline : We Make You Feel Richer
Reserve Bank of India Issues Master Direction for Bharat Bill Payment System, 2024
 In exercise of the powers conferred under Section 18 read with Section 10(2) of the Payment and
Settlement Systems Act, 2007 (PSS Act), the Reserve Bank of India (RBI) has introduced a
revised regulatory framework for the Bharat Bill Payment Systems (BBPS), effective April 1, 2024.
 Applicability : NPCI Bharat Bill Pay Limited (NBBL - a wholly owned subsidiary of National
Payments Corporation of India); and
Finance Minister Nirmala Sitharaman Leads Review Meeting on National Bank for Financing
Infrastructure and Development (NaBFID) Performance in New Delhi
 Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chaired the meeting to
review the performance of the National Bank for Financing Infrastructure and Development
(NaBFID) in New Delhi.
 NaBFID started its operations with a small team of deputed officials from 12 institutions, both public
and private sector
About NaBFID :
 The Government of India (GoI) set up NaBFID in April 2021 as India’s fifth All India Financial
Institution in the country to support the development of long-term non-recourse infrastructure
financing in India.
 NaBFID is a specialised development finance institution in India which supports the country's
infrastructure sector by bridging the financing gap in the infrastructure sector, enabling credit flow
through innovative instruments such as longer tenor loans, blended finance, partial credit
enhancement, takeout financing, and facilitate crowding-in of infrastructure finance.
 The authorised share capital of the Institution is ₹ 1 lakh crore, and GOI has already infused an
initial capital of ₹ 20,000 crore along with a grant of ₹ 5,000 crore.
Jana Small Finance Bank Collaborates with Dvara Money for Digital Banking Services
 Jana Small Finance Bank (Jana SFB) entered into a partnership with Dvara Money (DM) to
combine DM's innovative Spark Money platform with the technological capabilities of Jana SFB.
 A significant element of this partnership is the Third-Party Application Providers (TPAP)
capabilities.
 TPAP will enable the integration of a full-stack UPI solution into the Spark Money platform.
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 The solution will also enable UPI functionalities like Aadhar OTP-based onboarding and credit on
UPI to Dvara's existing offerings.
About Jana Small Finance Bank :
 Headquarters : Bangalore, Karnataka, India
 CEO : Ajay Kanwal
 Jana Small Finance Bank, a scheduled commercial bank, is the 4th largest Small Finance Bank in
India and was launched in March 2018.
RBI Enhances Framework for Fintech Sandbox, Extends Timelines for Specific Processes
 The Reserve Bank of India (RBI) has revised its 'Enabling Framework for Regulatory Sandbox',
extending the timelines for various stages of the sandbox process and permitting applicants to
establish in-principle partnerships before applying for the sandbox.
 Reasons for Updates: The revisions stem from insights gathered over the past four and a half
years from running four cohorts and feedback received from fintechs, banking partners, and other
stakeholders.
 Cohorts Focus: The Regulatory Sandbox (RS) operates through different cohorts, each
concentrating on areas such as financial inclusion, payments, lending, and digital Know Your
Customer (KYC).
About RBI :
 Established : 1 April 1935
 Governor : Shaktikanta Das
State Bank of India Discusses Relaxation of Cash Reserve Ratio Requirement with Reserve Bank of
India to Encourage Green Deposits
 The State Bank of India (SBI) has requested the Reserve Bank of India (RBI) for a lower cash
reserve ratio (CRR) on green deposits raised from customers.
 CRR Definition: Cash Reserve Ratio (CRR) is the percentage of cash that banks are required to
maintain with the Reserve Bank of India (RBI) against their total deposits.
 Current CRR Requirement: Currently, banks must maintain a CRR of 4.5% on their total deposits,
with no special treatment for green deposits.
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 SBI's Proposals: SBI has proposed two options: reducing CRR on green deposits and integrating
this relaxation into the overall policy for all banks.
About SBI :
 Established : 1 July 1955
 Chairman : Dinesh Kumar Khara
 CFO : Kameshwar Rao Kodavanti
Goldman Sachs Issues Double Downgrades for SBI and ICICI Bank
 The global investment banking firm, Goldman Sachs, has downgraded State Bank of India (SBI)
and ICICI Bank, signalling the end of the "Goldilocks period" for banks.
 Earnings Estimate Cut: The report highlights a 5% to 2% reduction in earnings estimates across
the coverage universe for FY25E/26E, with the aggregate Profit After Tax (PAT) falling below
consensus by 2%/1% for FY25/26.
 Challenging Outlook: Goldman Sachs notes a challenging near-term outlook for the financial
sector, indicating the conclusion of the Goldilocks period characterized by strong growth and
visible profitability.
Financial Intelligence Unit-India imposes a penalty of Rs. 5,49,00,000 on Paytm Payments Bank Limited
regarding violations of its obligations under PMLA
 The Financial Intelligence Unit-India (FIU-IND), in furtherance of the powers conferred upon the
Director FIU-IND under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002,
has imposed a monetary penalty of Rs. 5,49,00,000 on Paytm Payments Bank Limited regarding
the violations of its obligations under the PMLA read with the Prevention of Money Laundering
(Maintenance of Records) Rules, 2005 (PML Rules) issued thereunder and applicable guidelines
and advisories issued by the Director FIU-IND.
 The action comes just a month after the Reserve Bank of India (RBI) barred it from accepting
deposits, credit transactions or top-ups,
About FIU-IND :
 Founded : November 18, 2004
 Headquarters : New Delhi
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 Financial Intelligence Unit-India (FIU-IND) is an organisation under the Department of Revenue,

Government of India which collects financial intelligence about offences under the Prevention of
Money Laundering Act, 2002.
Off-Peak UPI Transactions in February Decline, Amounting to 18.28 Trillion
 After starting 2024 on a strong note, the Unified Payments Interface (UPI) saw transactions dip
slightly in February but remain above December 2023 levels.
 Transactions worth ₹18.28-lakh crore were processed during February, nearly 1% lower than the
peak of ₹18.41 lakh crore in January 2024.
 The value of transactions was 48% higher year-on-year, as per data by the National Payments
Corporation of India (NPCI).
 The number of transactions on the UPI network decreased by 0.8% in February, totalling 1,210
crore transactions compared to 1,220 crore transactions in January.
About UPI :
 Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single
mobile application.
 It is developed by the National Payments Corporation of India (NPCI).
 It was introduced in April 2016.
State Bank of India Achieves Landmark of 500 Million Customers

 The State Bank of India (SBI), India's largest public sector lender, announced that it has crossed
the significant milestone of having over 50 crore customers, marking a monumental achievement
for the bank.
 Social Media Announcement: SBI made the announcement via its social media channels,
highlighting the milestone and the significance it holds for the bank.
 Chairman's Acknowledgment: Upon reaching this milestone, Dinesh Khara, the
Chairman of SBI, expressed gratitude to the bank's customers for their trust and support.
 Market Valuation: In addition to the customer milestone, SBI surpassed IT giant Infosys to become
the 5th most valued firm in the country by market valuation.
Government Establishes Panel Led by T V Somanathan to Conclude Uniform Know Your Customer
Standards
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 The government of India has formed an expert committee headed by Finance Secretary T V
Somanathan to make its recommendations to bring out uniform Know Your Customer (KYC)
norms.
 The committee comprises members from various ministries and regulatory bodies, reflecting a
collaborative effort to address KYC standardization.
 The formation of the committee follows discussions at the Finance Stability and Development
Council (FSDC) meeting on February 21, highlighting the imperative to simplify and digitize the
KYC process in the financial sector.
Major Financial Institutions Mandated to Disclose Climate Change Risk Management Frameworks by
Fiscal Year 2026
 Banks and large finance companies are mandated to disclose their governance, strategy, and risk
management structures to address climate change risks by Fiscal Year 2026 (FY26).
 Draft Disclosure Framework: The central bank has released a draft disclosure framework titled
"Disclosure Framework on Climate-related Financial Risks, 2024."
 Applicability: The framework applies to various financial institutions, including scheduled
commercial banks, urban cooperative banks, financial institutions, non-banking financial
companies, and foreign banks operating in India.
Reserve Bank of India Reports Increase to 60.3% in Share of Term Deposits Among Banks' Total
Deposits in December 2023
 According to the Reserve Bank of India’s (RBI) quarterly data, the share of term deposits in
scheduled commercial banks (SCBs) total deposits increased to 60.3% in December 2023 from
57.2% in March 2023.
 Rising return on term deposits (TDs) is driving the compositional shift in deposits of SCBs.
 The term deposit is a contract between the bank and the customer for a definite term and it cannot
be paid prematurely at the bank's option-.
 Term deposit can be paid prematurely at the request of the customer.
Vadodara Municipal Corporation Launches First Certified Green Municipal Bond in India and Asia,
Focused on Sustainable Water Infrastructure
 The Vadodara Municipal Corporation (VMC) issued Asia’s first certified Green Municipal Bond for
sustainable water infrastructure worth Rs 100 crore, aimed at fostering sustainable urban
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development, aligned with the Paris Agreement, to enhance liquid wastewater management
infrastructure.
 Funding Source: Raised Rs 100 crore through the Certified Green Municipal Bond for Sustainable
Water Infrastructure.
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Insurance Regulatory and Development Authority to Introduce Collateral Requirements for Reinsurance
Transactions with Cross-Border Reinsurers
 The Insurance Regulatory and Development Authority of India (IRDAI) intends to introduce
collaterals for reinsurance transactions with Cross Border Reinsurers (CBRs).
 Applicability and Timeline:The proposed guidelines outlined in an exposure draft will apply to all
reinsurance placements with CBRs by cedants or insurers from India, for reinsurance programs
from the financial year 2025-26 onwards.
 Need for Protection:IRDAI has observed an increase in premiums collected by CBRs from the
Indian reinsurance market and recognizes the importance of protecting the interests of Indian
reinsurers.
About IRDAI :
 Established : 1999
 Headquarters : Hyderabad, Telangana
 Chairperson : Debasish Panda
 The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance industries
in India.
RBI Mandates Standardized Format for Reporting Director, Managing Director, or Chief Executive
Officer Appointments/Reappointments in Asset Reconstruction Companies
 The Reserve Bank of India (RBI) has introduced a standardized format for Asset Reconstruction
Companies (ARCs) to provide information regarding candidates for director, Managing Director
(MD), or Chief Executive Officer (CEO) roles.
 As per section 3(6) of the Securitization and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002 (SARFAESI Act) and the guidelines attached to the circular dated
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October 11, 2022, Asset Reconstruction Companies (ARCs) are required to obtain prior approval
of the RBI for the appointment or re-appointment of any director, MD or CEO.
Reserve Bank of India Announces National Electronic Funds Transfer Achieves New Record of 4.10
Crore Daily Transactions
 The National Electronic Funds Transfer (NEFT) has recorded its highest ever single-day
transactions with the payment system processing 4.10 crore transactions on that day.
 Growth Trends : Over the past decade (2014-23), NEFT and RTGS (Real Time Gross Settlement)
systems have experienced significant growth:
 NEFT: 700% increase in volume and 670% increase in value.
 RTGS: 200% increase in volume and 104% increase in value.
 24/7 Operations: NEFT has been operational 24/7, 365 days a year since December 16, 2019,
while RTGS followed suit from December 14, 2020.
RBI Governor Shaktikanta Das Declares India's Share of Global Digital Payments Volume at 46%
 During the Digital Payments Awareness Week on March 4, 2024, the Reserve Bank of India (RBI)
Governor Shaktikanta Das revealed that digital transactions in India have experienced a
remarkable 90-fold increase over 12 years.
 Retail Digital Payments Statistics: Retail digital payments in India surged from 162 crore
transactions in the financial year 2012-13 to over 14,726 crore transactions in 2023-24 (till
February 2024).
 India's Global Share in Digital Transactions: India accounts for nearly 46% of the world's digital
transactions, based on 2022 data.
About RBI :
Reserve Bank of India Set to Introduce Interoperable Internet Banking Payment System in 2024
 The Reserve Bank of India (RBI) is working to allow interoperability for internet banking
transactions which is expected to be operational in 2024 and will facilitate quicker settlement of
funds for merchants.
.
 The move is aimed at addressing delays in the actual receipt of payments by merchants and is a
part of the regulator’s payment vision 2025.
 The RBI has approved implementing such a system for NPCI Bharat BillPay Limited (NBBL).
 The new system will facilitate quicker settlement of funds for merchants.
IIFL Finance Limited Faces Action under Section 45L(1)(b) of the Reserve Bank of India Act, 1934
 The Reserve Bank of India (RBI) invoked its authority under Section 45L(1)(b) of the Reserve Bank
of India Act, 1934, directing IIFL Finance Limited to immediately cease sanctioning or disbursing
gold loans, as well as from any activities involving the assignment, securitization, or sale of its
existing gold loan assets.
 Continued Servicing of Existing Portfolio: Despite the directive, IIFL Finance Ltd. is permitted to
continue servicing its existing gold loan portfolio through regular collection and recovery
procedures.
 Growth in Gold Loan Assets: The gold loan asset under management of IIFL Finance Ltd. has
demonstrated significant growth, increasing by 35% year-on-year to reach ₹24,692 crore.
Tata-Owned Air India Secures Favorable Three-Year Loan by Refinancing Short-Term Loans with State
Bank of India and Bank of Baroda
 Tata Group-owned Air India has refinanced its short-term loans with the State Bank of India (SBI)
and Bank of Baroda (BoB) to secure a three-year loan at an attractive rate.
 Purpose of the Loan: The newly secured Rs 19,000 crore loan will be utilized to finance Air India's
working capital requirements and to upgrade its aircraft fleet, emphasizing the strategic investment
in the airline's operations.
About SBI :
 Chairman : Dinesh Kumar Khara
 CFO : Kameshwar Rao Kodavanti
About BoB :
 Headquarters : Vadodara, Gujarat, India
 MD & CEO : Debadatta Chand
 Tagline : India's International Bank
.
Flipkart Partners with Axis Bank to Introduce UPI Handle, Aiming to Compete with Third-Party Apps
 E-commerce platform Flipkart has ventured into the digital payments sector by launching its own
unified payments interface (UPI) handle, @fkaxis, in collaboration with Axis Bank.
 Alongside the UPI handle, Flipkart introduced the initiative 'India’s Most Rewarding UPI,' aimed at
providing unique and rewarding UPI experiences for users.
 Availability and Registration: Currently accessible to Android users through the Flipkart app, the
UPI handle allows users to register for a new UPI ID for seamless fund transfers and in-app
payments.
About Flipkart :
 Founded : 2007
 Headquarters : Bangalore, Karnataka
 CEO : Kalyan Krishnamurthy
About Axis Bank :
 Established : 3 December 1993
 Headquarters: Mumbai, Maharashtra, India
 MD & CEO: Amitabh Chaudhry
 Tagline : Badhti Ka Naam Zindagi
National Bank for Agriculture and Rural Development Initiates Pilot Programme for District-Level
Technology Exhibitions
 The National Bank for Agriculture and Rural Development (NABARD) has launched a pilot
programme under which technology exhibitions will be organised in the districts.
 Primary objective of the ODOE programme : To create a market for rural and grassroots
innovations, fostering economic growth and sustainability in rural areas.
 One-District One-Exhibition (ODOE): To start with, the NABARD has organised 3 ODOEs in
Bhadradri Kothagudem, Mahabubnagar and Nizambad districts in Telangana on February 15, 16
and 17, 2024.
About NABARD :
 Chairman : Shri. Shaji K V
.
 It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of
Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural
Development Act 1981.
 NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex
cooperative banks in India.
 It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).
Reserve Bank of India Prohibits JM Financial from Offering Financing Secured by Shares and
Debentures
 Under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, the Reserve Bank of India has
directed regulated entity JM Financial Products Limited. (JMFPL) to cease and desist, with
immediate effect, from doing any form of financing against shares and debentures, including
sanction and disbursal of loans against Initial Public Offering (IPO) of shares as well as against
subscription to debentures as the entity has been found violating regulatory guidelines.
 The action taken by the RBI is based on information provided by the Securities & Exchange Board
of India (SEBI), the market regulator, indicating that JMFPL has contravened regulatory norms.
About JMFPL :
 JMFPL is a subsidiary of JM Financial with assets under management (AUM) of Rs 7,197 crore.
 The company is focused on offering a broad suite of loan products, which are customised to suit
the needs of corporates, institutions, SMEs and individuals.
 JM Financial holds a 99.71% equity stake in JMFPL.
Paytm's Unified Payment Interface Transactions Decline by 7.6% in February 2024 - National Payments
Corporation of India Data
 The National Payments Corporation of India (NPCI) data reveals a decline in Paytm's Unified
Payments Interface (UPI) transactions, dropping to approximately 1.33 billion transactions in
February 2024 from 1.44 billion transactions in January 2024, marking a 7.6% decrease.
 Market Share Reduction: Paytm's share of UPI payments decreased to less than 11% in February,
down from around 11.8% in the previous month.
 This reflects a broader decline in Paytm's market share, which was at 12.8% in August, 2023.
About Paytm :
 Founded : August 2010
.
 Headquarters : Noida, Uttar Pradesh, India

Submission of Statement on Centralised Information Management System Required for Money Transfer
Service Scheme
 All Authorised Persons who are Indian Agents under the Money Transfer Service Scheme (MTSS)
were required to submit a quarterly statement (within 15 days from the close of the quarter to
which it relates) on the quantum of remittances received through MTSS using the eXtensible
Business Reporting Language (XBRL) platform.
 With the launch of the Reserve Bank’s next-generation data warehouse viz., the Centralised
Information Management System (CIMS), it has been decided that the reporting of the aforesaid
statement will be done on CIMS portal (URL: https://sankalan.rbi.org.in/) with effect from the
quarter ending March 2024.
Reserve Bank of India's Ombudsman Schemes See a 68% Surge in Complaints to Over 7 Trillion in
2022-23
 According to the Annual Report of Ombudsman Schemes released by the Reserve Bank of India
(RBI) Customer complaints with the Reserve Bank Ombudsman were up by 68% in 2022-23.
 First Stand-Alone Report: The Annual Report of the Ombudsman Scheme 2022-23 is noteworthy
as it marks the first stand-alone report under the Reserve Bank Integrated Ombudsman Scheme
(RB-IOS), 2021.
 This report elaborates on the activities of the 22 Offices of the RBI Ombudsman (ORBIOs), the
Centralised Receipt and Processing Centre (CRPC), and the Contact Centre throughout the year.
L&T Finance, L&T Infra Credit, and 5 Other Non-Banking Financial Companies Voluntarily Surrender
Registration Certificates to the Reserve Bank of India
 L&T Finance, L&T Infra Credit, and 5 other non-banking financial companies (NBFCs) have
surrendered their certificates of registration (CoR) to the Reserve Bank of India (RBI).
 Following this, the RBI cancelled its Certificate of Registration (CoR) as it ceased to be a legal
entity after amalgamation, merger, dissolution or voluntary strike-off
 List of Companies: The 7 NBFCs involved in this action are:
1. L&T Finance Limited, Kolkata, West Bengal
2. L&T Infra Credit Limited, Mumbai, Maharashtra (the youngest NBFC among them, registered
in June 2022)
.
3. Marudhar Food & Credit Limited, Kolkata, West Bengal (the oldest NBFC among them,
registered in November 2003)
4. Creative Intra Limited, Ludhiana, Punjab
5. Jinvani Trading & Investment Company Private Limited, Bangalore, Karnataka
6. Manjushree Fincap Private Limited, Bangalore, Karnataka
7. Shruti Financial Services Private Limited, Bangalore, Karnataka

L&T Finance Secures $125 Million Financing Agreement with Japan International Cooperation Agency
(JICA)
 Non-banking financial company (NBFC) L&T Finance Holdings Limited (LTFH) had signed a
financing pact with Japan International Cooperation Agency (JICA) for $125 million to support
financing in rural and peri-urban areas [located between the outer limits of urban and rural
environment] in India, particularly women borrowers.
 In November 2023, L&T Finance sourced a $125 million loan from the Asian Development Bank
(ADB), and as part of the co-financing agreement, an additional $125 million loan is now being
raised from JICA.
 At least 40% of the proceeds will be allocated for women borrowers, while the rest will be allocated
to support farmers, the Ministry of Micro, Small and Medium Enterprises (MSMEs), as well as
loans to purchase new two-wheeler vehicles including electric two-wheelers.
About JICA :
 Established : October 1, 2003
 Headquarters: Tokyo, Japan
 President: Akihiko Tanaka
 The Japan International Cooperation Agency is a governmental agency that delivers the bulk of
Official Development Assistance for the government of Japan.
Securities and Exchange Board of India’s T+0 Settlement Plan to Begin on Optional Basis by March 28,
Says Chairperson Madhabi Puri Buch
 The Securities and Exchange Board of India (SEBI) plans to implement a T+0 (same day)
settlement cycle for the cash segment from March 28 on an optional basis, while instantaneous
settlement will be effective from March 2025.
.
 T+0 would mean settlements in the same day and instant settlement would ensure trades are
settled immediately.
 Current Settlement Cycle: Presently, the Indian market operates on a T+1 (trade-plus-one-day)
settlement cycle, whereas most global markets settle trades on a T+2 basis.
IndusInd Bank Introduces India's First Contactless Payment Wearable 'Indus PayWear
 IndusInd Bank announced the launch of its contactless payments wearables, 'Indus PayWear,'
India's first All-in-One tokenizable wearables for both debit and credit cards exclusively on
Mastercard, with the offering to be extended to other card networks shortly.
 Aim : To revolutionise the payment experience by enabling users to tokenize their IndusInd Bank
credit or debit cards onto a chip-enabled wearable device.
 This feature enhances convenience and security by eliminating the need for physical cards or
payment apps.
About IndusInd Bank :
 Founded : April 1994
 MD & CEO : Sumant Kathpalia.
 Tagline : We Make You Feel Richer
Securities and Exchange Board of India Implements Third Settlement Scheme for Illiquid Stock Option
Case
 The Capital markets regulator Securities Exchange Board of India (SEBI) introduced a third
settlement scheme for entities involved in reversal trades in the stock options segment on BSE in
2014 and 2015.
 The scheme will commence on March 11 2024 and end on May 10, 2024 (with both days
inclusive).
 After the expiry of the scheme period, actions as per the relevant provisions of securities laws will
be continued against the entities which do not avail this opportunity for settlement.
 Aim :To expedite the conclusion of proceedings, enabling entities to avoid further delays and the
associated legal processes or expenses.
About SEBI :
 Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
.
 Headquarters : Mumbai, Maharashtra

 Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
 SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
SEBI Releases Guidelines for Small and Medium REITs to Govern Fractional Ownership of Real Estate
 The Securities and Exchange Board of India (SEBI) has issued regulations to amend the REIT
Regulations 2014, establishing guidelines for the creation of Small and Medium Real Estate
Investment Trusts, or SM REITs.
 Aim :To regulate the fractional ownership industry and safeguard investor interests, incorporating
both commercial and residential properties within the new framework.
 Fundraising Threshold : Under the new framework, SM REITs can raise funds starting from ₹50
crore by issuing units to a minimum of 200 investors.
 Utilization of Funds : The funds will be utilised for acquiring and managing real estate assets and
generating income for investors.
About SEBI :
 Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
 Headquarters: Mumbai, Maharashtra
 Chairman: Madhabi Puri Buch
the Ministry of Finance, GoI.
World Bank Commits $3 Billion to Egypt Following Agreement with International Monetary Fund
 Egypt is set to receive a $3 billion loan from the World Bank following an initial agreement with the
International Monetary Fund (IMF) to expand the IMF's loan arrangement, part of a larger $20
billion package from various international partners.
 Composition of $20 Billion Package:The $20 billion package includes approximately $11 billion
from international partners such as the World Bank, European Union, Japan, and the United
Kingdom (UK).
 Additionally, it incorporates the $8 billion IMF package agreed upon last week.
.
 Climate Finance Allocation Discussions:Ongoing discussions involve allocating $1 to 1.2 billion for
climate finance through the IMF's Resilience and Sustainability Facility.
About World Bank :
 Established : July 7, 1944
 Headquarters : Washington, D.C., United States
 President : Ajay Banga
About IMF :
 Managing Director : Kristalina Georgieva
 Membership : 190 countries (189 UN countries and Kosovo)
About Egypt :
 President : Abdel Fattah el-Sisi
 Prime Minister : Moustafa Madbouly
 Capital : Cairo
 Currency : Egyptian pound
Bajaj Allianz General Introduces 'Insurance Samjho,' an AI-powered bot Powered by GenAI
 Leading private general insurer Bajaj Allianz General Insurance launched "Insurance Samjho", a
Gen AI-powered bot designed to simplify insurance complexities for customers.
 Aim : To address the dissatisfaction of policyholders during claim settlement arising due to lack of
understanding, intricate details and fine print of the insurance policy.
 Functionality: "Insurance Samjho" offers a user-friendly interface with intuitive AI capabilities to
break down complex insurance terms into simple, conversational language.
 Virtual Assistant: The bot serves as a virtual assistant, allowing customers to ask questions about
their coverage, exclusions, procedures, or seek clarity on specific medical conditions.
About bajaj allianz general insurance :
 Founded : 2000
 Headquarters : Pune, Maharashtra
 MD & CEO : Tapan Singhel
Pension Fund Regulatory and Development Authority Chairperson Deepak Mohanty Unveils Mobile
App to Promote Financial Inclusion and Enhance NPS Engagement
.
 Pension Fund Regulatory and Development Authority (PFRDA) Chairperson Deepak Mohanty has
launched a user-friendly web application developed by Zerodha Broking Limited, designed to
simplify access to the National Pension System (NPS) for subscribers.
 This new initiative is part of a broader strategy to increase the NPS's reach and streamline its
management.
 The application aims to provide a seamless experience for users, allowing them to easily manage
their NPS accounts.
About Zerodha Broking Limited :
 Founders: Nithin Kamath, Nikhil Kamath
 Zerodha Broking Limited is an Indian financial services company.
About PFRDA :
 Headquarters : New Delhi, Delhi
 Chairman : Deepak Mohanty
 PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.
 It operates under the jurisdiction of the Ministry of Finance in the Government of India.
RBL Bank Introduces GO Savings Account with Zero Balance Requirement

 RBL Bank unveils the GO Savings Account, featuring a zero balance requirement, to encourage
savings and enhance banking accessibility.
 Interest Rates: The account offers attractive interest rates of up to 7.5% per annum.
 Premium Debit Card: Users benefit from a premium debit card.
 Vouchers: Subscribers receive vouchers worth ₹1,500 for premier brands, enhancing the value
proposition.
 Insurance Cover: The account includes comprehensive cyber insurance, accident insurance, and
travel insurance, providing coverage up to ₹1 crore.
About RBL Bank :
 Established : August 1943
 MD & CEO : R. Subramania kumar
 Tagline : Apno Ka Bank
.
Reserve Bank of India Prohibits Exclusive Agreements between Banks and Card Networks, Grants
Customers Freedom to Select Networks
 The Reserve Bank of India (RBI) has barred exclusive agreements between banks and card
networks and has allowed customers to choose the network at the time of issue under Section 18
read with Section 10(2) of the Payment and Settlement Systems Act, 2007.
 Customer Choice : At present, the card issued to a customer is decided by the card issuer
(bank/non-bank) and is linked to the arrangements that the card issuers have with card networks in
terms of their bilateral agreements.
About RBI :
30 banks enlist on Reserve Bank of India's UDGAM portal for unclaimed deposits
 The Reserve Bank of India (RBI) informed that 30 banks are facilitating people to search their
unclaimed deposits/accounts through Unclaimed Deposits-Gateway to Access inforMation
(UDGAM) portal, and the remaining banks are in the process of getting on-boarded.
 UDGAM is an online portal developed by RBI.
 It facilitates the registered users to search unclaimed deposits/accounts across multiple banks in
one place in a centralised manner.
National Payments Corporation of India Calls Meeting with Third-Party App Players to Address Market
Share Stability on Unified Payments Interface
 The National Payments Corporation of India (NPCI) is actively exploring strategies to stabilise
market share dynamics on the Unified Payments Interface (UPI).
 NPCI has organised a meeting with third-party application players to discuss and address the
challenges associated with market share dynamics on UPI.
 30% Cap Implementation: NPCI has proposed a 30% cap by volume for third-party payment
applications in the UPI market.
 Initially planned for implementation on January 1, 2023, the move has been postponed, and the
new deadline is set for December 31, 2024.
About NPCI :
 Founded : 2008
.
 MD & CEO : Dilip Asbe

 The NPCI is an umbrella organisation for operating retail payments and settlement systems in
India.
 It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &
Settlement Infrastructure in India.
Reserve Bank of India's Gold Reserves surged by 8.7 Trillion to Reach 812.3 Trillion in January 2024
 The Reserve Bank of India (RBI) increased its gold reserves in January after a two-month hiatus.
 RBI's gold acquisition in January amounted to 8.7 metric tons, marking the highest monthly
purchase in a year and a half.
 As of January's end, RBI's gold reserves reached an unprecedented level of 812.3 metric tons.
 In 2023, RBI's net gold purchases were substantially lower at 16.2 metric tons compared to
previous years, where annual net purchases averaged 47 metric tons from 2018 to 2022.
Infibeam Avenues gains over 9% on RBI's authorization for Payment Aggregator Licence
 Infibeam Avenues Ltd shares surged more than 9% in trade after the company announced that it
received the final authorisation for operating as an Online Payment Aggregator by the Reserve Bank of
India (RBI).
 Infibeam Avenues received this final authorisation from the RBI for operating as a payment aggregator
(PA) for its payment gateway brand, CCAvenue, on March 4.
 The in-principle approval for this authorization was granted in October 2022.
 The company informed that the Reserve Bank of India had introduced the payment aggregator
framework in March 2020, as per which, it is mandatory for payment gateways to secure an aggregator
license to acquire merchants as well as deliver cutting-edge digital payment acceptance solutions.
RBI, Bank Indonesia sign MoU to promote the use of local currencies for cross-border transactions
 The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of
Understanding (MoU) in Mumbai for establishing a framework to promote the use of local
currencies viz. the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border
transactions.
 The MoU was signed by the Governor of the Reserve Bank of India Mr. Shaktikanta Das and the
Governor of Bank Indonesia Mr. Perry Warjiyo.
.
 This collaboration marks a key milestone in strengthening bilateral cooperation between RBI and
BI.
About Bank Indonesia:
 Bank Indonesia is the central bank of the Republic of Indonesia. It replaced in 1953 the Bank of
Java, which had been created in 1828 to serve the financial needs of the Dutch East Indies.
 Subsidiaries: Museum Bank Indonesia, Indonesische Overzeese Bank
 Founder: People's Consultative Assembly
 Headquarters: Central Jakarta, Indonesia
 Founded: 1 July 1953
 Currency: Indonesian rupiah
 Governor: Perry Warjiyo
About RBI :
 Established: 1 April 1935
 Headquarters: Mumbai, Maharashtra, India
 Governor: Shaktikanta Das
Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24
 Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising
its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 percent.
 This projection is underpinned by India's strong government expenditure, robust domestic
consumption, and its potential to capitalise on global trade shifts, particularly in the wake of
companies diversifying away from China.
 The upgraded forecast solidifies India's position as the fastest-growing economy among major G20
nations.
RBI tightens rules for credit and debit cards linked to business accounts
 The Reserve Bank of India (RBI) has tightened norms for credit and debit cards used for business
accounts.
 The banking regulator has told business card issuers to put in place an effective mechanism to
monitor the end use of funds.
 The central bank stated that card issuers shall not share card data (including transaction data) of
the cardholders with the outsourcing partners unless the sharing of such data is essential to
discharge the functions assigned to the latter.
.
Centre Maintains Unchanged Interest Rates for Small Savings Schemes in April-June 2024 Quarter
 The Finance Ministry has announced that the interest rates for small savings schemes for the
upcoming quarter of April-June 2024 will remain the same as the rates applicable in the previous
quarter (January-March 2024).
Interest rates for various small savings schemes :
Small savings schemes Interest rates for April-June 2024
Savings deposits 4
1 year time deposits 6.9
2 year time deposits 7
5 year recurring deposits 6.7
Monthly income account scheme 7.4
National savings certificate 7.7
Senior citizen savings scheme 8.2
Public provident fund scheme 7.1
Kisan Vikas Patra 7.5
 About Ministry of Finance :

 Cabinet Minister : Nirmala Sitharaman
 Minister of State : Bhagwat Karad, Pankaj Choudhar
NPCI Partners with Nepal's Fonepay for Cross-Border Merchant Payments
 NPCI International Payments (NIPL), the international arm of the National Payments Corporation of
India (NPCI) has agreed with Nepal-based payment network Fonepay Payment Service, for cross-
border Unified Payments Interface (UPI) transactions between India and Nepal.
 Aim : To facilitate QR-code-based person-to-merchant (P2M) UPI transactions between individuals
and merchants across the borders of India and Nepal.
.
About NPCI :
 Founded : 2008
 MD & CEO : Dilip Asbe
 The NPCI is an umbrella organisation for operating retail payments and settlement systems in
India.
 It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under
the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &
Settlement Infrastructure in India.
Star Health’s total number of claims settled exceeds 1 crore mark
 Star Health, headquartered in Chennai, Tamil Nadu has achieved a significant milestone in the
insurance industry by becoming the first standalone health insurance company to settle over 1
crore claims since its establishment in 2006.
 Claim Disbursement: Over the years, Star Health has disbursed claim payments totalling more
than ₹44,000 crore, encompassing both cashless and reimbursement claims across the nation.
 Hospital Network: With a robust network comprising over 14,200 empanelled hospitals, Star Health
has efficiently settled more than 70% of customer claims, ensuring widespread coverage and
accessibility.
Cabinet Greenlights Extra Instalment of Dearness Allowance and Dearness Relief for Central
Government Employees and Pensioners
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved to release of an
additional instalment of Dearness Allowance (DA) to Central Government employees and
Dearness Relief (DR) to pensioners w.e.f.Jan 2024 representing an increase of 4% over the
existing rate of 46% of the Basic Pay/Pension, to compensate against the price rise.
 Following this hike, the dearness allowance (DA) and dearness relief (DR) will go up from 46% to
50%.
Small Industries Development Bank of India Secures $24.5 Million from Green Climate Fund for
'Avaana' Fund
 Development bank, Small Industries Development Bank of India (SIDBI) has received $24.5 million
from the Green Climate Fund (GCF) for its maiden first anchored project, Avaana Sustainability
Fund (ASF)' valued at $120 million.
.
 GCF approved SIDBI's project and committed the investment during its 38th board meeting in
Rwanda on March 5, 2024.
 The primary aim of the ASF project is to invest in early-stage companies harnessing technology-
led innovation to spur climate solutions and sustainability in India.
About Small Industries Development Bank of India :
 Headquarters : Lucknow, Uttar Pradesh, India
 Chairman & MD : Sivasubramanian Ramann
 The SIDBI is the apex regulatory body for overall licensing and regulation of micro, small and
medium enterprise finance companies in India.
 It is under the jurisdiction of the Ministry of Finance , Government of India (GoI).
Financial Experts Forecast Mandatory Listing for 6 Non-Banking Financial Companies in the Coming
Year 2025
 Tata Sons’ initial public offer (IPO) has been in focus for the past week.
 There are five other companies who also have to launch their offers in slightly-over one year.
 These include companies like Bajaj Housing Finance and five other shadow banks including
Piramal Capital and Housing Finance, Tata Capital Financial Services, HDB Financial Services,
and Aditya Birla Finance that must list in a year on account of being featured in Reserve Bank of
India’s list of ‘upper-layer’ non-banking financial companies.
Bank of Baroda Introduces Special Offers for Female Account Holders

 On the occasion of International Women’s Day (March 08, 2024), Bank of Baroda has announced
attractive offers and benefits for its women account holders on the opening of either a bob Mahila
Shakti Savings Account or a Bob Women Power Current Account – accounts designed specifically
for women.
 This offer is applicable for accounts opened till June 30, 2024 and loan facilities availed till
December 31, 2024.
 Aim : To empower women financially by providing them with tailored financial products and
attractive benefits.
About BoB :
 Founded : 20 July 1908
 Headquarters : Vadodara, Gujarat, India
.
 MD and CEO : Debadatta Chand.

 Tagline : India's International Bank
Following the Reserve Bank of India, JM Financial Faces Regulatory Scrutiny from the Securities and
Exchange Board of India
 The Market regulator Securities and Exchange Board of India (SEBI) barred JM Financial, a
registered merchant banker, from acting as a lead manager for any new public issue of debt
securities.
 The order comes after the Reserve Bank of India (RBI) halted JM Financial Products, a subsidiary
of JM Financial, from extending loans against shares and debentures, including sanction and
disbursal of loans against initial public offering (IPO) and non-convertible debentures (NCDs).
 The SEBI stated that JM Financial may continue to act as a lead manager for public issue of debt
securities for a period of 60 days from the date of this Order.
About SEBI :
 Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
 Headquarters : Mumbai, Maharashtra
 Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
the Ministry of Finance (MoF), GoI.
World Bank Approves Program to Enhance Rural Connectivity in Assam, Benefiting 1.8 Million Amid
Extreme Weather Conditions
 The World Bank’s Board of Executive Directors has approved the Assam Resilient Rural Bridges
Program, aimed at enhancing connectivity for over 1.8 million people residing in rural areas of
Assam, India, particularly during extreme weather conditions.
 The $452 million Assam Resilient Rural Bridges Program aims to strengthen the resilience and
management of roads and bridges to help people living in 1,739 villages gain round-the-year
access to wholesale markets, schools, hospitals, and places of work.
About World Bank :
 Established : July 7, 1944
.
 President : Ajay Banga
Reserve Bank of India's Gold Imports Exempted from Customs Duty and Agricultural Cess by Central
Government
● The Indian government has announced that gold imported by the Reserve Bank of India (RBI)
will be exempted from import duty and Agriculture Infrastructure Development Cess (AIDC).
● This exemption aims to facilitate the import of gold by the RBI for various purposes without
incurring additional taxes.
● Import Duty and AIDC: Typically, the import of gold attracts a 15% import duty, which includes a
5% AIDC.
● Tax Adjustment in January: In January, the government raised the import duty on gold and silver
findings and coins of precious metals from 11% to 15%.
● This adjustment was made to eliminate tax advantages associated with importing gold and silver
in finding form rather than in bars.
● Gold Import Scenario in India: India is the world's second-largest consumer of gold after China,
heavily relying on imports to meet domestic demand.
What is the Agriculture Infrastructure and Development Cess (AIDC)?

● AIDC is a tax imposed by the government on the commercial production of agricultural produce
to provide financial support for the development of agricultural infrastructure in India.
● It was proposed in the Budget 2021-22 as a means to generate funds specifically for the
development of agricultural infrastructure.
● Objective : To provide financial support for the development of agricultural infrastructure in India.
● The funds collected through this cess will be utilised for the creation and maintenance of
agricultural infrastructure such as cold storage facilities, warehouses, and market yards.
What is a Cess?
● Cess is a form of tax charged/levied over and above the base tax liability of a taxpayer.
● A cess is usually imposed additionally when the state or the central government looks to raise
funds for specific purposes.
● Cess is not a permanent source of revenue for the government, and it is discontinued when the
purpose of levying it is fulfilled.
.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Shaktikanta Das
Reserve Bank of India Directs Federal Bank and South Indian Bank to Halt Issuance of New Co-
Branded Credit Cards
● Following the directions by the Reserve Bank of India (RBI), private sector lenders Federal Bank
and South Indian Bank stopped issuing co-branded credit cards to new customers on account of
regulatory deficiencies.
● Both banks are taking steps to ensure compliance with the RBI's directives.
● South Indian Bank stated that it will refrain from onboarding new customers for its co-branded
credit cards until full compliance is achieved with the RBI's Master Direction on Credit Card and
Debit Card issuance.
About Federal Bank :
● Headquarters : Aluva, Kochi, Kerala, India
● MD & CEO : Shyam Srinivasan
● Tagline : Your Perfect Banking Partner
About South Indian Bank :
● Founded : 1929
● Headquarters : Thrissur, Kerala, India
● MD & CEO : P R Seshadri
● Tagline : Experience Next-Generation Banking
Small Industries Development Bank of India and Pharmaceutical & Medical Devices Bureau of India ink
Memorandum of Understanding to provide credit support to Jan Aushadhi Kendras
● The Small Industries Development Bank of India (SIDBI) has signed a memorandum of
understanding (MoU) with the Pharmaceutical & Medical Devices Bureau of India (PMBI) to
provide term loan and working capital credit to Jan Aushadhi Kendras (JAKs) being set up by
aspiring entrepreneurs.
● JAKs are administered by PMBI, Department of Pharmaceuticals, Ministry of Health & Family
Welfare and Chemicals & Fertilizers and they provide generic medicines to citizens at affordable
prices under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP).
● There are more than 10000 operational JAK stores and the Hon'ble Prime Minister has
.
announced an ambitious plan to open an additional 15000 new JAK stores over the next 2 years.
About Small Industries Development Bank of India :
● Headquarters : Lucknow, Uttar Pradesh, India
● Chairman & MD : Sivasubramanian Ramann
● The SIDBI is the apex regulatory body for overall licensing and regulation of micro, small and
medium enterprise finance companies in India.
● It is under the jurisdiction of the Ministry of Finance , Government of India (GoI).
Reserve Bank of India Levies Monetary Penalties on Bandhan Bank, Bank of India, and Indostar Capital
Finance for Regulatory Breaches
● The Reserve Bank of India (RBI) has imposed monetary penalties on 2 banks, Bank of India
(BoI), Bandhan Bank, and 1 non-banking finance company, Indostar Capital Finance Limited for
non-compliance with various regulatory norms.
● Bank of India has been penalized Rs 1.4 crore for non-compliance with RBI directions concerning
'interest rate on deposits', 'customer service in banks', 'interest rate on advances', and
contravention of provisions of Credit Information Companies Rules, 2006.
● Reasons for Bank of India Penalty: The penalty was imposed after statutory inspections
conducted by the RBI regarding the bank's financial position as of March 31, 2021, and March
31, 2022.
● Bank of India also failed to benchmark interest on certain floating rate retail loans and loans to
MSMEs to an external benchmark rate, and inaccurately reported data on large borrowers to
CRILC (Central Repository of Information on Large Credits).
● RBI has also imposed a penalty of Rs 29.55 lakh on private sector lender Bandhan Bank for non-
compliance with certain directions.
● Meanwhile, the RBI also said a penalty of Rs 13.60 lakh has been imposed on Indostar Capital
Finance Ltd for non-compliance with the 'Monitoring of Frauds in NBFCs (Reserve Bank)
Directions, 2016' and with certain provisions of KYC directions.
Bank of Baroda Introduces Green Term Deposit Scheme Offering 7.15% Interest Rate
● Bank of Baroda (BoB), one of India’s leading public sector banks, has announced the launch of
the Bob Earth Green Term Deposit Scheme with an aim to raise deposits that will be used to
finance eligible environment-friendly projects and sectors, fostering India’s transition to a green
.
and sustainable economy.

Key Points about Bob Earth Green Term Deposit Scheme :
➢ The Bob Earth Green Term Deposits offer depositors the opportunity to earn attractive interest
rates on a range of tenors and participate in India’s transition to a green and sustainable
economy.
➢ The bank offers interest rates up to 7.15% p.a. Eligible investors include the general public,
resident Indians, NRIs, and high-net-worth individuals (HNIs) for the BOB Earth Green Term
Deposit scheme.
● The scheme offers customers the dual benefits of stable financial returns and contribution
to a greener planet.
➢ Tenors Amount
● ₹5,000 to Below ₹2 Crore
➢ Interest Rate
● 1 year i.e. 12 months 6.75
● 1.5 years i.e. 18 Months 6.75
● 777 days 7.15
● 1111 days 6.40
● 1717 days 6.40
● 2201 days 6.40
➢ Under the bob Earth Green Term Deposit Scheme, the Bank of Baroda has introduced some
innovative tenures that act as a reminder of the planet’s Climate & Sustainability goals, such as a
tenure of 1.5 years – signifying the aim to limit global temperature rise to 1.5 degrees Celsius
above pre-industrial levels and Tenure 1717 days – doubly emphasizing the United Nations’ 17
Sustainable Development Goals
About BoB :
● Founded : 20 July 1908
● Headquarters : Vadodara, Gujarat, India
● MD and CEO : Debadatta Chand.
● Tagline : India's International Bank
One97 Communications, Parent Company of Paytm, to Partner with 4 Banks for Unified Payments
Interface Integration
.
● The country's largest lender State Bank of India (SBI) has partnered with One97
Communications Limited (OCL), which runs Paytm brand and app, for its consumer Unified
Payment Interface (UPI) payments.
● Paytm's UPI was powered by Paytm Payments Bank Limited (PPBL) and since the RBI's action
on the latter, the mobile payments company has been forced to seek bank partnerships to
become a third-party application provider (TPAP), much like its larger competitors PhonePe and
Google Pay.
● Paytm had partnered with Axis Bank, Yes Bank and HDFC Bank for TPAP partnerships earlier.
● The transition is expected to be seamless and gradual, with the "@paytm" handle being retained.
● For most large UPI players, the regulatory body National Payments Corporation of India (NPCI)
insists that they should have at least 3 bank partners.
● The bank partners in UPI are payment service providers (PSP), which connect the TPAP to the
banking network.
What are Payment Service Providers (PSPs)?
● A payment service provider (PSP) is a third-party company that allows businesses to accept
electronic payments, such as credit cards and debit card payments.
● PSPs act as intermediaries between those who make payments, i.e. consumers, and those who
accept them, i.e. retailers.
Securities and Exchange Board of India Enhances Qualified Stockbrokers Framework to Enhance
Investor Confidence
● The Securities and Exchange Board of India (SEBI) has announced the expansion of the
Qualified Stockbroker (QSB) framework to include more brokers under enhanced obligations.
● This move aims to strengthen investor trust in the securities market.
● The decision will also help in strengthening the compliance culture among stockbrokers.
● New Parameters: The revised QSB framework includes new parameters for designating a
stockbroker as QSB:
➢ Compliance score of the stockbroker.
➢ Grievance redressal score of the stockbroker.
➢ Proprietary trading volumes of the stockbroker.
● Earlier Parameters: The QSB framework previously included the following parameters:
➢ Total number of active clients.
.
➢ Available total assets of clients.

➢ Trading volumes (excluding proprietary trading).
➢ End-of-day margin obligations (excluding proprietary obligations).
● Total Parameters: With the revision, the QSB framework now consists of 7 parameters for
designating a stockbroker as QSB.
SEBI Grants Approval for Beta Version Launch of T+0 Settlement from March 28
● The Capital markets regulator Securities and Exchange Board of India (SEBI) has approved the
launch of the beta version of the T+0 settlement on an optional basis from March 28, 2024.
● On March 15,2024 after a meeting with its Board, SEBI announced the new and optional
settlement cycle.
Definition of T+0 Settlement :
● T+0 settlement means that the funds and securities for a transaction will be settled on the day
the trade was entered into.
● Beta Version Details : The beta version of the T+0 settlement will be launched for a limited set of
25 scrips and a limited set of brokers.
● Relaxations for Foreign Portfolio Investors (FPIs):SEBI also approved various relaxations for
FPIs to improve ease of doing business.
● Notably, FPIs holding not more than 50% of their India equity assets under management (AUM)
in the corporate group, excluding holding in the parent company with no identified promoter, are
eligible for certain relaxations.
India's Forex Reserves Grow by $10.47 Billion, Reaching $636.095 Billion

● According to the Reserve Bank of India (RBI), India's foreign exchange reserves surged by
$10.47 billion to reach $636.095 billion for the week ended March 8,2024.
● In the preceding reporting week, the overall reserves had grown by $6.55 billion to $625.626
billion.
● Special Drawing Rights (SDRs) rose by $31 million to $18.211 billion.
● India's reserve position with the International Monetary Fund (IMF) increased by $19 million to
$4.817 billion.
What are Foreign exchange reserves?
● Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other
reserve assets such as gold held by a central bank or other monetary authority that are primarily
.
available to balance payments of the country, influence the foreign exchange rate of its currency,
and to maintain confidence in financial markets.
● It is generally held in reserve currencies, usually the US Dollar and to a lesser degree the Euro,
Japanese Yen, and Pound Sterling.
Reserve Bank of India Purchases 8.7 Tonnes of Gold in January 2024, Marking Highest Acquisition in
Nearly 2 Years
● The Reserve Bank of India (RBI) bought 8.7 tonnes of gold in January 2024, making it the largest
purchase by the central bank since July 2022.
● According to the World Gold Council data, the RBI’s gold holding has climbed to 812.3 tonne in
January, from 803.58 tonne in December 2023.
● Purpose of Gold Purchase: The central bank is diversifying its forex reserves and hedging
against foreign currency risks by adding gold to its reserves.
● History of RBI's Gold Purchases: RBI began buying gold in 2018 to bolster its reserves.
● Notably, during the global financial crisis in 2009, it purchased 200 tonnes of gold.
● Gold Purchase in Current Financial Year: In the first 10 months of the current financial year, the
RBI has added nearly 17.7 tonnes of gold to its reserves.
● International Gold Purchases : Turkey, China and Kazakhstan also bought a significant volume of
yellow metal in January.
About World Gold Council (WGC) :
● Established : 1987
● Headquarters : London, United Kingdom
● The World Gold Council is the market development organisation for the gold industry.
● It works across all parts of the industry, from gold mining to investment, to stimulate and sustain
demand for gold.
● It was established to promote the use of and demand for gold through marketing, research, and
lobbying.
● WGC was the creator of the first gold exchange-traded fund.
Government of India and Asian Development Bank Ink $181 Million Loan Deal to Enhance Livability and
Mobility in Ahmedabad
● The Government of India (GoI) and the Asian Development Bank (ADB) signed a $181 million
.
loan to build quality infrastructure and services toward improving urban livability and mobility in
the peri-urban areas of Ahmedabad city in Gujarat.
● Aim : To make peri-urban areas of Ahmedabad livable, environmentally sustainable, and efficient
with robust physical and social infrastructure, a vibrant economy, and a distinct identity as a
preferred investment destination.
Key Highlights :
● Infrastructure Development: The project involves the construction of various infrastructure
components, including:
➢ 166 km of water distribution network
➢ 126 km of climate-resilient stormwater drainage
➢ 300 km of sewerage systems
➢ 4 sewage treatment plants
➢ Improvement of 10 junctions along Sardar Patel Ring Road.
● Beneficiaries: The project aims to benefit the urban poor, women, and migrant workers by
providing improved urban services and governance.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Bhagwat Karad, Pankaj Choudhary
About ADB :
● Headquarters : Manila, Philippines
● President : Masatsugu Asakawa
● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)
and 19 non-regional members (countries outside the region)
Arya.ag and Shivalik Bank Collaborate to Provide Rs 200 Crore in Commodity Financing for Farmers
● Grain commerce platform Arya.ag has partnered with Shivalik Small Finance Bank to assist
farmers, agro-processors, and micro-enterprises financially.
● Through this partnership, Arya.ag acts as a business correspondent for the bank to facilitate over
₹200 crore in warehouse receipt financing in the current financial year.
● Managing Director and CEO of Shivalik Small Finance Bank : Anshul Swami,
● Co-founder of Arya.ag : Anand Chandra
.
Numerous Asset Reconstruction Companies Close to Meeting Reserve Bank of India's Revised Net
Owned Fund Requirement
● Most of the asset reconstruction companies (ARCs), barring two or three, will be able to meet the
minimum net owned fund (NOF) norm of ₹200 crore by the March-end 2024 deadline.
● Many ARCs are within striking distance of the minimum NOF target of ₹200 crore, having
reached ₹175-180 crore by December-end 2023 due to improvement in recovery rate from
security receipts (SRs).
● Currently, there are 27 ARCs in India.
● For ARCs that existed as of October 11, 2022 (when the minimum NOF prescription was ₹100
crore), a glide path has been prescribed for achieving the minimum NOF target of ₹200 crore by
March-end 2024 and ₹300 crore by March-end 2026.
● Out of the 29 ARCs that existed when RBI revised upwards the minimum NOF norm in October
2022, 2 ARCs – Lone Star India Asset Reconstruction Private Limited and Arcion Revitalisation
Pvt Ltd have surrendered their licences.
What is meant by Asset Reconstruction Company?
● An Asset Reconstruction Company is a specialised financial institution that buys NPAs or bad
assets from banks and financial institutions so that the latter can clean up their balance sheets.
Stress Test Reveals Higher Risks for Large Mutual Funds, Especially in Small/Mid-Cap Sectors
● The market regulator, the Securities and Exchange Board of India (SEBI), mandated a stress test
on mid- and small-cap mutual fund schemes.
● The test revealed that some larger fund houses may face higher risks compared to their smaller
counterparts.
● Large fund houses, including HDFC MF and SBI MF, with assets of ₹28,597 crore and ₹25,534
crore, will take 42 and 60 days to sell 50 per cent of their assets in the event of heavy
redemption.
● On the other hand, smaller players like Edelweiss MF will take only 3 days to offload half of their
small-cap portfolio.
● Time to Liquidate Assets : According to Association of Mutual Funds in India (AMFI) data, it
would take between 60 and 3 days to liquidate 50% of a small-cap portfolio and 30 to 2 days to
offload 25% during heavy redemption.
.
● Mid-cap funds could liquidate 50% and 25% of their investments within a maximum of 34 and 17
days, respectively.
● Largest Fund House in Small-Cap Space:The largest fund house in the small-cap space, Nippon
India Mutual Fund, with an asset under management of ₹46,030 crore, has revealed that it can
sell 50% and 25% of its assets in 27 and 13 days, respectively.
Reserve Bank of India Renews Committee of Advisors for Abhyudaya Cooperative Bank
● Former Chief General Manager of the State Bank of India (SBI), Devendra Kumar has been
appointed to the 'Committee of Advisors' of Abhyudaya Cooperative Bank by the RBI following
the resignation of Mahendra Chhajed.
● Mahendra Chhajed resigned from the Committee effective from March 4, 2024, citing personal
reasons.
● The “Committee of Advisors” will now comprise of following members:
(i) Shri Devendra Kumar (former Chief General Manager, SBI);
(ii) Shri Venkatesh Hegde (former General Manager, SBI);
(iii) Shri Suhas Gokhale (former MD, COSMOS Co-operative Bank Limited).
About Abhyudaya Cooperative Bank :

● Abhyudaya Cooperative Bank started operations in 1964 and was granted 'scheduled bank
status' by the RBI in September 1988.
● It was registered as a Multi-State Co-op Bank by the Central Registrar, New Delhi, on January
11, 2007.
● The bank’s operations are primarily in three states: Maharashtra, Gujarat, and Karnataka.
January 2024 Sees 2% Increase in Outstanding Cards; HDFC Bank Surpasses 2 Crore Cards-in-Force
Milestone
● Cards-in-force increased steadily by 1.63 per cent in January 2024, inching close to the
milestone of 10 crore outstanding credit cards in India.
● The total number of credit cards stood at 9.95 crore as of the end of January 2024, aided by
HDFC Bank crossing 2 crore cards during the month.
● The number of credit cards rose by nearly 16 lakhs during the month, slower than 19 lakh
additions in December 2023.
.
● According to data from the Reserve Bank of India, banks such as American Express, Standard
Chartered, Union Bank and Bank of Maharashtra saw a slight decline in their cards during the
month.
● Among the top four issuers, HDFC Bank maintained its leadership position, adding 2.3 lakh cards
during the month to a total of 2.01 crore cards at the end of January.
● State Bank of India was a close second with 1.9 crore cards, followed by ICICI Bank which saw
the highest increase in cards on the back of 3.1 lakh additions.
Securities and Exchange Board of India Requires Index Providers to Register Within Regulatory
Framework
● The regulatory framework laid out for index providers by the Securities and Exchange Board of
India (SEBI) has come into effect, and this is aimed at strengthening transparency and
accountability in the administration of benchmark indices.
● Financial and Experience Criteria: Index providers must have a minimum net worth of Rs 25
crore and at least 5 years of experience in index administration.
● Oversight Committee Requirement: Index providers are mandated to establish an oversight
committee responsible for reviewing the existing index design and methodology to ensure
alignment with the index's nomenclature and description.
● Linkage to Financial Products : Moreover, several indices are linked to financial products such as
exchange-traded derivatives, index funds, exchange-traded funds (ETFs), and market-linked
debentures.
● Ownership and Management of Benchmarks: Currently, benchmark indices in India are owned
and managed by entities of the Bombay Stock Exchange (BSE) and the National Stock
Exchange (NSE).
Max India’s subsidiary Collaborates with Indian Institute of Technology Delhi for senior citizen care
● Max India Limited's wholly owned subsidiary, Antara Assisted Care Services Limited, has entered
into a Memorandum of Understanding (MoU) with the Indian Institute of Technology Delhi (IIT
Delhi) to develop offerings tailored specifically for the senior demographic.
● Collaborative Activities : The collaboration entails knowledge exchange, research consultancy,
Entrepreneurial Development Programs (EDPs), and the sharing of laboratory resources.
.
DFS Secretary Reveals Insurance Sector Attracted Rs 54,000 Crore FDI Over 9 Years
● Financial Services Secretary Vivek Joshi revealed that the insurance sector received
approximately Rs 54,000 crore in foreign direct investment (FDI) over the past 9 years due to
further liberalization of overseas capital flow norms by the government.
● Changes in FDI Limits: The permissible FDI limit in the insurance sector increased from 26% in
2014 to 49% in 2015 and then to 74% in 2021.
● The FDI limit for insurance intermediaries was raised to 100% in 2019.
● Insurance Penetration and Density: Insurance penetration increased from 3.9% in 2013-14 to 4%
in 2022-23, while insurance density rose from USD 52 to USD 92 during the same period.
● Insurance penetration is measured as the percentage of insurance premium to Gross domestic
product (GDP), while insurance density is calculated as the ratio of premium to population (per
capita premium).
What Is a Foreign Direct Investment (FDI)?
● Foreign direct investment (FDI) is an ownership stake in a foreign company or project made by
an investor, company, or government from another country.
National Bank for Agriculture and Rural Development to Introduce ₹1000 Crore Blended Fund for
Agricultural Startups
● The National Bank for Agriculture and Rural Development (NABARD) will launch a ₹1,000-crore
fund to bolster technology-driven agri-startups and rural enterprises.
● The fund will back startups facing challenges in scaling up their operations due to limited access
to equity and debt instruments and will seek to foster new linkages in the rural ecosystem, both
forward and backwards.
About NABARD :
● Chairman : Shri. Shaji K V
● It was established on the recommendations of the B. Sivaraman Committee (by Act 61, 1981 of
Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural
Development Act 1981.
● NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex
cooperative banks in India.
● It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).
.
5 Public Sector Undertakings Banks to reduce Government Shareholding to Comply with SEBI’s
Minimum Public Shareholding Norms: Department of Financial Services Secretary
● 5 public sector lenders, including Bank of Maharashtra, Indian Overseas Bank (IOB), and UCO
Bank, intend to decrease government stake to less than 75% to adhere to the Securities and
Exchange Board of India’s (SEBI) Minimum Public Shareholding (MPS) norms.
● Out of the 12 public sector banks (PSBs), 4 met the MPS norms as of March 31, 2023.
● Compliance Progress: During the current financial year, 3 more PSBs have achieved the
minimum 25% public float.
● The remaining 5 PSBs have devised action plans to meet MPS requirements.
● Government Holding Levels: Currently, government holding in Delhi-based Punjab & Sind Bank
is 98.25 per cent.
● It is followed by Chennai-based Indian Overseas Bank at 96.38 per cent, UCO Bank 95.39 per
cent, Central Bank of India 93.08 per cent, Bank of Maharashtra at 86.46 per cent.
● SEBI’s MPS Norms: SEBI mandates that all listed companies maintain a minimum public
shareholding of 25%.
Reserve Bank of India Cautions Public Against Using Public Charging Ports Due to Juice Jacking Risks
● The Reserve Bank of India (RBI) has issued a cautionary message to mobile phone users
advising them against charging their devices using public ports.
● The warning comes amidst growing concerns over the security risks posed by juice jacking, a
cyberattack where hackers tamper with public USB charging ports to steal data from connected
devices.
What is Juice jacking?
● The term “juice jacking” was first coined in 2011 by investigative journalist Brian Krebs.
● Juice jacking is a form of cyberattack where hackers tamper with public USB charging ports,
infecting them with malware or making hardware changes that allow them to steal data from
devices connected to them.
● This type of attack has been a growing concern, with incidents reported in various public spaces
such as airports, hotels, and shopping centres.
● RBI emphasised the importance of protecting personal and financial data while using mobile
devices.
.
Norway's Government Pension Fund Global, the World's Largest Sovereign Fund, Increases
Investments in India to $22 Billion in Calendar Year 2023
● Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund with a
portfolio value over $1.4 trillion, raised its India bets last year amid a surge in Indian equities.
● Foreign Portfolio Investors (FPIs):The increase in India's weight coincided with net purchases by
foreign portfolio investors (FPIs) amounting to over $20 billion.
● India's benchmark index Nifty 50 rose by 20.1% in CY23.
● Comparison with China:India has the second-largest weight in GPFG's emerging market portfolio
after China, whose weight reduced by 70 bps to 3.1%.
● The India weight in the fund’s equity portfolio rose from 1.6% at the end of CY21 to 2.2% by
CY23, indicating a significant increase over two years.
Top 10 Holdings of the Pension Fund among NSE firms :
1. ICICI Bank (₹7,331 crore)
2. Infosys (₹7,144 crore)
3. Axis Bank (₹6,416 crore)
4. Varun Beverages (₹3,976 crore)
5. M&M (₹3,184 crore).
6. Sun Pharmaceuticals Industries (₹3,180 crore)
7. Cipla (₹2,916 crore)
8. IndusInd bank (2,451 crore)
9. Grasim Industries (2,203 crore)
10. Hero Motocorp (2,106 crore)
● The top 10 investments amount to a market value of ₹40,911 crore.
● Emerging markets accounted for 10.2 per cent of the fund’s equity investments, lower than the
10.9 per cent at the end of CY22.
● The fund’s equity portfolio returned 21.3 per cent in 2023. The fund was invested in 8,859
companies at the end of 2023, down from 9,228 a year earlier.
● Technology stocks were the best performers in 2023 with a return of 51.9 percent.
● The fund’s top holdings include Microsoft ($33 billion), Apple ($31.3 billion), Alphabet ($18.1
billion), Amazon ($16.4 billion) and NVIDIA ($13.5 billion).
What is meant by a sovereign wealth fund?
.
● A Sovereign Wealth Fund (SWF) is a substantial pool of money owned and managed by a
government entity.
● It is usually funded by revenues generated from natural resources such as oil, gas, minerals, or
foreign exchange reserves.
● It acts as a savings account for the nation.
● It aims to preserve and grow wealth for future generations.
About the Government Pension Fund of Norway :
● The Government Pension Fund of Norway comprises two entirely separate sovereign wealth
funds owned by the government of Norway.
● It, also known as the Oil Fund, was established in 1990 to invest the surplus revenues of the
Norwegian petroleum sector.
Securities and Exchange Board of India Proposes Introduction of Audio-Visual Disclosures for Public
Issue Documents
● The Securities and Exchange Board of India (SEBI) proposed the inclusion of audio-visual (AV)
representations in companies' offer documents for public issues.
● Aim : To facilitate investors in better comprehending the essential aspects of an offer.
● Introduction of AV Format: SEBI proposes that companies seeking listing on the main board
should provide disclosures from their Draft Red Herring Prospectus (DRHP) and Red Herring
Prospectus (RHP) in an Audio-Visual (AV) format.
● Bilingual Presentation: The AV presentations on public issues will be bilingual, available in
English and Hindi, to ensure accessibility to the public.
● Duration and Content: Each bilingual AV version is suggested to have a maximum duration of 8
minutes, evenly distributing the total duration among material disclosures.
● Timeline for Publication: The AV presentations must be published by the issuer or lead manager
within 5 working days during both the submission and resubmission stages of the Draft Red
Herring Prospectus (DRHP).
Banks' Issuance of Certificate of Deposit Surges 25% to Reach ₹7.89 Lakh Crore in FY24 Till March 8,
2024
● As per the RBI data, Fund mobilisation by Banks through Certificate of Deposit (CD) issuances
surged 25% year-on-year (y-o-y) to ₹7.89-lakh crore during the financial year so far (up to March
.
8, 2024).
● This comes in the backdrop of deposit growth lagging credit growth.
● Banks had mopped up ₹6.33-lakh crore via CD issuances a year ago.
What is a Certificate of Deposit (CD)?
● CD is a negotiable, unsecured money market instrument issued by a bank as a usance
promissory note against funds deposited at the bank for a maturity period of up to 1 year.
● They are issued in minimum denomination of ₹5 lakh and multiples of ₹5 lakh thereafter.
Reserve Bank of India Penalizes Tamilnad Mercantile Bank and DCB with Almost ₹2 Crore in Fines for
Breaching Lending Rate Regulations
● The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.3 crore on Tamilnad
Mercantile Bank Limited (TMBL) for non-compliance with certain directions issued by RBI on
‘Interest Rate on Advances’ and ‘Central Repository of Information on Large Credits (CRILC) -
Revision in Reporting’.
● Also, RBI imposed a monetary penalty of ₹63.6 lakh on DCB Bank Limited for non-compliance
with certain directions issued by RBI on ‘Interest Rate on Advances’.
● This penalty has been imposed in the exercise of powers vested in RBI conferred under the
provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act, 1949.
Government Considering Amendments to SARFAESI and DRT Legislation to Legally Recognize E-

Notices
● To speed up the debt recovery process, the Ministry of Finance (MoF) has set up a panel to
suggest amendments to the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest (SARFAESI) and Debt Recovery Tribunals (DRTs) Acts,
including a provision for granting legal sanctity to e-notices to debtors.
● The committee headed by an Additional Secretary held several meetings, and discussions are in
the advanced stage in this regard.
● Aim : To make the debt recovery process less tedious and more effective.
Background on DRTs Act & SARFAESI Act:
● The Debt Recovery Tribunals (DRTs) Act was enacted in 1993 to provide a legal framework for
the expeditious adjudication and recovery of debts due to banks and financial institutions.
● The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
.
(SARFAESI) Act 2002 was enacted to address these shortcomings and provide a more robust
framework for debt recovery.
Securities and Exchange Board of India Eases Regulations for Certain Offshore Funds
● Capital market regulator Securities and Exchange Board of India (SEBI) has exempted offshore
funds from naming their investors under certain circumstances.
● Criteria for Exemption:Offshore funds with more than 50% of their assets invested in a group of
companies are eligible for the exemption.
● In 2023, SEBI asked offshore funds with 50% of their assets in a single group of companies and
with more than 250 billion rupees ($3 billion) in Indian equity markets to disclose their investors.
● However, the SEBI stated that such offshore funds will still need to make required disclosures
within 10 days if they hold more than 3% of the company.
What are Offshore funds?
● Offshore funds are mutual funds that invest across overseas markets – multinational and
international corporations.
● Hence, they are also commonly referred to as international funds or foreign funds.
● Additionally, they may invest in fixed-income assets of a nation or region.
About SEBI :
● Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
● Headquarters: Mumbai, Maharashtra
● Chairman: Madhabi Puri Buch
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance, GoI.
RBI organises Annual Conference of the RBI Ombudsmen

● The Reserve Bank of India (RBI) organised the Annual Conference of the RBI Ombudsmen, in
Mumbai, Maharashtra.
● The theme of the conference was “Protecting the Consumers – Building Robust Systems and
Procedures”.
● Shri Shaktikanta Das, Governor of RBI, inaugurated the conference.
What is the Banking Ombudsman Scheme?
.
● The Banking Ombudsman Scheme provides a swift and cost-effective platform for bank
customers to address grievances related to specific services offered by banks.
● It was established under Section 35 A of the Banking Regulation Act, 1949, by the Reserve Bank
of India (RBI) in 1995.
● The current version of the scheme is the Banking Ombudsman Scheme 2006, which
incorporates amendments made up to July 1, 2017.
Who is a Banking Ombudsman?
● The Banking Ombudsman is appointed by the Reserve Bank of India (RBI).
● Their primary role is to address customer complaints regarding deficiencies in certain banking
services.
● The Banking Ombudsman Scheme 2006, amended up to July 1, 2017, outlines the grounds for
complaints.
● Complaints covered under the scheme are specified in Clause 8.
● The scheme aims to provide a mechanism for the resolution of disputes between banks and their
customers.
About RBI :
● Governor : Shaktikanta Das
Finance Ministry Introduces ₹90 Coin to Commemorate 90 Years of Reserve Bank of India
● The Finance Ministry announced the release of a unique ₹90 denomination coin to mark the 90th
anniversary of the Reserve Bank of India (RBI).
● Crafted with 99.99% silver purity, the coin weighs approximately 40 grams and has a diameter of
44mm.
● It features 200 serrations along the edge, symbolizing the historical significance and
achievements of the RBI over nine decades.
● Obverse Side:The obverse side of the coin showcases the iconic RBI logo at the center, with the
inscription “RBI@90” below, representing the institution's enduring legacy and contribution to
India's financial stability.
● Reverse Side:The reverse side of the coin displays the Lion Capital of Ashoka Pillar, symbolizing
India's rich heritage and democratic values.
.
● The national motto “Satyamev Jayate” (Truth Alone Triumphs) is inscribed in Devanagari script
below the Ashoka Pillar.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Bhagwat Karad, Pankaj Choudhar
States and Union Territories Raise ₹50,206 Crores through Auction of State Government Securities
● The weighted average cut-off at the biggest weekly auction of State Government Securities
(SGS) so far in FY24 rose 7 basis points (bps) due to the huge supply of paper.
● 16 States and 1 Union Territory (UT) cumulatively mopped up ₹50,206 crore via auction of SGS.
● The amount raised surpassed the planned borrowing of ₹27,810 crore as per the Indicative
Calendar of Market borrowings.
● The weighted average cut-off of SGS rose to 7.45% on March 19, 2024, from 7.38% the previous
week.
What is Government Security (G-Sec)?
● Government Securities (G-Secs) are financial instruments that can be bought and sold, issued by
either the Central Government or State Governments.
● They serve as official acknowledgments of the government's debt obligations.
● G-Secs come in two main types: short-term, known as treasury bills, with original maturities of
less than one year, and long-term, referred to as Government bonds or dated securities, with
original maturities of one year or more.
● While both types of G-Secs are issued by the Central Government in India, only bonds or dated
securities, known as State Development Loans (SDLs), are issued by State Governments.
● G-Secs are considered extremely safe investments because they carry minimal risk of default,
earning them the reputation of being risk-free gilt-edged instruments.
Citibank Set to Introduce Digital Payments Product "Spring" in India in Q2

● Citibank plans to launch its digital payments acceptance product ‘Spring by Citi’ in India in the
second quarter of this year (April-June).
● Currently available in about 24 countries, Spring by Citi processes business-to-business and
direct-to-customer payments, and integrates with payment methods across geographies.
● Citibank manages significant portions of electronic payment flows (4.3%), trade flows (8%), and
.
Swift payments (25%) in India.

● The proposed launch comes over a year after Citi exited retail banking in India by selling its
business to Axis Bank.
● It now focuses on large local companies, multinationals, financial institutions, and emerging and
mid-sized firms.
● Spring was developed by Citi's Treasury and Trade Solutions business, a segment that
comprises payments, working-capital solutions, and liquidity management.
Reserve Bank of India Establishes Omnibus Framework for Recognizing Self-Regulatory Organizations
for Regulated Entities
● The Reserve Bank of India (RBI) has finalised the Omnibus Framework for recognising Self-
Regulatory Organisations (SRO) for its Regulated Entities (REs).
● Separate SROs for Each Sector:Each sector of the regulated entities (RE) including fintechs will
have a separate SRO and with the finalisation of the framework the RBI will receive applications
from various entities seeking to get SRO status.
● Contents of Omnibus Framework :The omnibus framework contains broad parameters viz.,
objectives, responsibilities, eligibility criteria, governance standards, application process and
other basic conditions for grant of recognition, which will be common for any SRO proposed to be
recognized by the Reserve Bank.
● A draft framework titled 'Draft Omnibus Framework for Recognizing Self-Regulatory
Organizations for its Regulated Entities' was released for public comments on December 21,
2023.
What is an SRO?
● An SRO is a non-governmental organisation that sets and enforces rules and standards relating
to the conduct of entities in the industry (members) with the aim of protecting the customer and
promoting ethics, equality, and professionalism.
● These typically collaborate with all stakeholders in framing rules and regulations.
What are the functions of an SRO?
● The recognised SRO will serve as a two-way communication channel between its members and
the RBI.
● It will work towards establishing minimum benchmarks and standards and help instil professional
and healthy market behaviour among its members.
.
● These will impart training to the staff of its members and others and will conduct awareness
programmes.
● It will establish a uniform grievance redressal and dispute management framework across its
members.
Income Tax Department Levies Rs 103.63 Crore Penalty on Tata Chemicals

● The Income Tax Department has imposed a penalty of Rs 103.63 crore on Tata Chemicals for
violation related to disallowance of interest.
● The penalty has been imposed under Section 270A of the Income Tax Act for disallowance of
interest under section 36(1)(iii) of the Act.
● Based on the merits of the matter, prevailing law and the advice of the counsel, Tata Chemicals
said it is planning to appeal against this order before the National Faceless Appeal Centre
(appellate authorities).
About Income Tax Department :
● The Income Tax Department is a government agency undertaking direct tax collection of the
government of India.
● It functions under the Department of Revenue of the Ministry of Finance.
● It is headed by the apex body Central Board of Direct Taxes (CBDT).
SEBI Orders Association of Mutual Funds in India to Halt Investments in Mutual Funds' Overseas
Schemes Starting from April 1,2024
● Capital market regulator Securities and Exchange Board of India (SEBI) has directed the
Association of Mutual Funds to stop inflows into overseas exchange-traded funds (ETF) from
April 1, 2024 as it is approaching the overall limit of $1 billion set by the Reserve Bank of India
(RBI).
● In January 2022, SEBI stopped mutual fund houses from taking fresh subscriptions in schemes
investing in overseas stocks.
● After the recent fall in the overseas market, it eased with the strict overall industry cap of $7
billion.
● SEBI has also directed mutual funds to value the utilisation of overseas investment limits based
on the cost of acquisition and not as per current market valuation of the investment.
● Current Scenario : Presently, there are 77 mutual fund schemes in India that invest overseas.
.
International Monetary Fund to Disburse $1.1 Billion from Bailout Fund to Pakistan
● Pakistan and the International Monetary Fund (IMF) reached a preliminary agreement for the
release of $1.1 billion from a $3 billion bailout following days long talks in Islamabad.
● Under the deal, Pakistan will receive the final tranche from the bailout that was approved by the
IMF in July to save the nation from defaulting on its debt repayments.
● The announcement came after talks between the IMF and the new government of Prime Minister
Shehbaz Sharif concluded in Islamabad.
What is the meaning of bailout?
● Bailout is a general term for extending financial support to a company or a country facing a
potential bankruptcy threat.
● It can take the form of loans, cash, bonds, or stock purchases.
● A bailout may or may not require reimbursement and is often accompanied by greater
government oversight and regulations.
About IMF :
● Headquarters : Washington, D.C., United States
● Managing Director : Kristalina Georgieva
● Membership : 190 countries (189 UN countries and Kosovo)
Merchant Discount Rate Continues to Stifle Growth of RuPay Credit Cards

● Despite efforts from the government and the Reserve Bank of India (RBI), the adoption of Unified
Payments Interface (UPI)-linked RuPay credit cards among merchants remains low.
What is Merchant Discount Rate (MDR):
● The MDR is a fee charged by banks for processing transactions.
● The fee is usually a percentage of the total transaction amount and is used to cover the costs
associated with processing payments.
● The MDR is typically between 1% and 3%.
● MDR charges are expressed as a percentage of the transaction amount.
Fintech Loan Volume Surges by 46% in Third Quarter (Q3): Report

● Fintech Association for Consumer Empowerment (FACE), an industry body for digital lenders,
stated that in the 9th edition of its FACETS report that its member companies disbursed loans
.
amounting to ₹33,922 crore in the third quarter of financial year 2024, which is a 46 per cent
year-on-year (Y-o-Y) increase from Q3 FY23.
● Loan Volume Growth: The number of loans disbursed in Q2 FY24 increased by 12% year-on-
year, reaching approximately 2.5 crore loans, compared to 17.5 million loans in Q2 FY23.
● NBFC Exposure and Profitability: Companies with non-banking financial companies (NBFCs)
reported that 76% of assets under management were on-balance exposure.
● Around 80% of the companies, based on data from 28 members, were profitable.
Reserve Bank of India Initiates Special Audit for IIFL Finance and JM Financial Products Beginning
April 12,2024
● The Reserve Bank of India (RBI) will commence a special audit of IIFL Finance Limited and JM
Financial Products Ltd (JMFPL) from April 12, 2024, to further investigate their regulatory
breaches.
● Tendering Process for Audit Firms:The regulator has initiated an e-tender to seek interest from
audit firms to conduct a special audit of these two non-banking finance companies.
● Audit firms empanelled by Securities and Exchange Board of India (SEBI) for forensic audits can
participate in the tendering process.
● Awarding of Work:The selected audit firms will be awarded work on April 12, 2024, to commence
the special audit process.
What is meant by eTender?
● Electronic tender, or eTender, is the process of sending and receiving bid tenders using online
procurement platforms.
● eTendering makes a huge difference to the procurement process as it offers improved visibility,
compliance and decision-making across source-to-pay (S2P) operations.
Reserve Bank of India and Bank Branches Open for Government Transactions on March 30th and 31st
● The Reserve Bank of India (RBI) has announced that its offices dealing with government
business and designated branches of agency banks conducting government banking business
will remain open during normal working hours on March 30, 2024 (Saturday) and March 31, 2024
(Sunday).
● Electronic transactions will be facilitated until the specified time on both March 30th and March
31st.
.
● Special Measures for Annual Closing: These arrangements are part of special measures for the
annual closing of government accounts for the financial year 2023-24.
● The aim is to ensure smooth transactions for central and state governments and provide greater
convenience to taxpayers.
● NEFT and RTGS Transactions: Transactions through the National Electronic Funds Transfer
(NEFT) and Real-Time Gross Settlement (RTGS) System will be operational until 2400 hours on
March 31, 2024.Reporting of Government Transactions: For reporting Central and State
government transactions to the Reserve Bank of India (RBI), including uploading of GST (goods
& service tax), TIN2.0 (taxpayer identification number), ICEGATE (Indian Customs EDI
Gateway), and e-receipts luggage files, the reporting window for March 31, 2024, will be
extended until 1200 hours noon on April 1, 2024.
Insurance Regulatory & Development Authority of India Introduces norms to enhance governance
● The Insurance Regulatory & Development Authority of India (IRDAI) has introduced a set of new
regulations to enhance the regulatory framework for the insurance industry.
● In its meeting on March 19, 2024, IRDAI approved 8 principle-based consolidated regulations.
Key Highlights :
Focus Areas of the Regulations:
➢ Safeguarding policyholders' interests
➢ Responsibilities towards rural and social sectors
➢ Electronic insurance marketplace
➢ Foreign reinsurance branches
➢ Aspects of registration, actuarial, finance, investment, and corporate governance.
About IRDAI :
● Headquarters : Hyderabad, Telangana
● Chairperson : Debasish Panda
● The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance
industries in India.
RBI Data Shows India's Forex Reserves Reach Record High of $642.292 Billion
.
● As per the latest data released by the Reserve Bank of India (RBI), India's foreign exchange
reserves rose for the fourth straight week to hit an all-time high of USD 642.292 billion in the
week ending on March 15, 2024.
● During the week, the foreign exchange reserves surged by USD 6.396 billion, contributing to the
overall rise.
● During the week, the foreign exchange reserves surged by USD 6.396 billion, following a rise of
USD 10.470 billion in the previous week.
● India's foreign currency assets (FCA), the largest component of forex reserves, increased by
USD 6.034 billion to USD 568.386 billion.
● Gold reserves also saw an uptick, rising by USD 425 million to USD 51.140 billion.
What are Forex reserves?
● Forex reserves, or foreign exchange reserves (FX reserves), are assets that are held by a
nation’s central bank or monetary authority.
● It is generally held in reserve currencies, usually the US Dollar and, to a lesser degree, the Euro,
Japanese Yen, and Pound Sterling.
Mutual Funds Impose Restrictions on Small-Cap Funds

● Fund houses operating sizable smallcap funds have announced a fresh set of curbs to manage
liquidity risk and address concerns raised by regulators.
● Franklin Templeton Mutual Fund (MF), managing nearly Rs 12,000 crore in its Franklin India
Smaller Companies Fund, has limited one-time investments to Rs 200,000 per month.
● For systematic investment plan (SIP) investors, the maximum monthly investment allowed is Rs
50,000.
● Restrictions by 4 Other Fund Houses: Apart from Franklin Templeton and Nippon India, SBI,
ICICI Prudential, Kotak, and Tata have also restricted flows into their smallcap funds.
● SEBI’s Instructions to Mutual Funds ; The SEBI has instructed MFs to address two fronts:
informing investors of the risks involved (through the disclosure of stress test outcomes) and
mitigating any identified risks.
Financial Year 2024 Expected to Witness Public Sector Banks' Dividend Payout Surpassing Rs 15,000
Crores
● Public sector banks (PSBs) are anticipated to pay a dividend exceeding Rs 15,000 crores for the
.
financial year ending March 2024, driven by improved profitability.

● Financial Performance: In the first three quarters of the current financial year, all 12 PSBs
collectively earned a total profit of Rs 98,000 crore, which is only Rs 7,000 crore less than the
entire fiscal year 2022-23.
● Record Profits: PSBs recorded their highest-ever aggregate net profit of Rs 1.05 lakh crore
during the fiscal year 2022-23, compared to Rs 66,539.98 crore in 2021-22.
● Government Dividend: The government received a dividend of Rs 13,804 crore from PSBs for
FY23, marking a significant increase of 58 per cent from the previous fiscal year.
● Regulatory Changes: The Reserve Bank of India (RBI) proposed draft guidelines in January to
allow banks with a net non-performing assets (NPAs) ratio of less than 6 per cent to declare
dividends.
● Implementation Timeline: The RBI's proposed guidelines are expected to come into effect from
the financial year 2024-25 onwards.
What are Public sector banks?
● PSBs are banks in which the government of a country owns a majority stake.
● In India, PSBs refer to nationalized banks, which are banks that were previously owned by
private individuals or entities and were subsequently nationalized by the government.
NPCI Subsidiary, Banks, and Fintechs Engage in Discussions for Collaborative Net Banking Strategies
● NPCI Bharat Bill Pay (NBBL), along with banks and fintech firms, are in discussions to implement
banking interoperability following approval from the Reserve Bank of India (RBI) for the project.
● NBBL is expected to commence work on establishing the necessary infrastructure for
interoperable transactions in April.
● Stakeholders Involved: Discussions are underway with major participants in the net banking
ecosystem, including leading banks like HDFC Bank, SBI, and ICICI Bank.
● RBI Approval: On March 4, the RBI approved the implementation of an interoperable payment
system for internet banking transactions by NBBL, a subsidiary of NPCI.
● RBI's Vision: The RBI aims to centralize all payment rails under a single payment system by
2025.
Exim Bank Grants $23 Million Line of Credit to Guyana for Aircraft Acquisition
.
● The Export-Import Bank of India (Exim Bank) strategically targets the defence market of South
America by extending a Line of Credit (LOC) of $23.37 million (about Rs 194 crore) to Guyana,
South America.
● Aim : To facilitate the procurement of two Dornier 228 aircraft from Hindustan Aeronautics Ltd
(HAL), a Navratna defence PSU, by Guyana.
● An agreement for the LOC was signed between Guyana's senior minister responsible for finance,
Ashni K Singh, and Exim Bank's deputy general manager, Sanjay Lamba, in the presence of
High Commissioner of India to Guyana, Amit Telang.
● Over the years, Guyana alone has received eleven LOCs of value aggregating $143.04 million
from the Exim Bank for capacity enhancement in sectors of defence, and others like the
construction of a cricket stadium in Georgetown, for East Bank-East Coast Road linkage project,
upgradation of three primary health centres, and installation of solar home lighting systems.
● With the addition of this LOC, Exim Bank has a total of 292 LOCs in place, covering 62 countries
across Africa, Asia, Latin America, CIS, and Oceania.
● The bank has credit commitments of approximately $2.72 billion available for financing exports
from India.
What is a line of credit?
● A line of credit (LOC) is a form of unsecured personal loan that allows people and organisations
to borrow money when they need it, pay it back, and borrow more without having to qualify for
another loan.
● An evergreen loan is a term often used to describe a line of credit.
About Export-Import Bank of India (Exim Bank) :
● Headquarters : Mumbai, Maharashtra
● Chairman & Managing Director : Ms. Harsha Bangari
● The Exim Bank is a specialized financial institution in India that was established in 1982.
● The bank's primary function is to finance, facilitate and promote India's international trade.
● It is owned by the Government of India and operates as a statutory corporation.
● Its operations are governed by the Export-Import Bank of India Act, 1981.
Bank of Japan Implements First Interest Rate Hike in 17 Years

● Japan's central bank has made a significant policy shift by raising its benchmark interest rate for
the first time in 17 years.
.
● The central bank's move marks the end of a longstanding policy of negative interest rates aimed
at stimulating the economy.
● Rate Adjustment Details: The short-term interest rate has been increased to a range of 0 to 0.1
per cent from its previous level of minus 0.1 per cent.
● Historic Rate Hike: This rate hike is the first of its kind since February 2007, highlighting the rarity
and significance of the event.
About Bank of Japan :
● Headquarters : Chūō, Tokyo, Japan
● Governor : Kazuo Ueda
Private Banks Expand ATM Network While PSU Banks Decrease

● In the 12 months ending January 2024, public sector banks (PSUs) reduced their Automated
teller machine (ATM) network by 1,343 machines to 1,36,173 ATMs.
● In contrast, private banks expanded their ATM network by adding 3,502 ATMs, bringing their total
to 79,225 machines.
● This highlights the diverging strategies between PSU and private banks regarding ATM
deployment and network expansion.
● HDFC Bank has announced ambitious plans to add 1,500 branches during the financial year
2025.
● Reduction in Offsite ATMs by PSBs:PSBs have primarily reduced their offsite ATM deployment,
which decreased to 93,381 from 96,243 a year ago and 87,160 two years ago.
● Bandhan Bank's High ATM Transaction Rate:Bandhan Bank boasts the highest average
transactions per ATM, with 5,269 transactions.
● PSB and Private Bank ATM Distribution:Among PSU banks, Punjab National Bank leads in ATM
distribution, with 30 ATMs per one lakh debit cardholders.
● Bank of Baroda has the lowest number of ATMs per cardholder among PSU banks, standing at
11.
Motilal Oswal Predicts 24% Decline in Paytm Revenue

● Motilal Oswal Financial Services Limited estimates that Paytm's revenue for the financial year
2025 (FY25) could decline by 24% due to the regulatory restrictions imposed by the Reserve
Bank of India (RBI).
.
● The contribution profit of Paytm is expected to decline by 30% for FY25, indicating a substantial
impact on the company's profitability.
● Despite the decline in revenue and profit, the company's contribution margin is projected to
sustain at 51%, suggesting a relatively stable operational efficiency.
About Motilal Oswal Financial Services Limited :
● Founded : 1987
Insurance Regulatory and Development Authority of India Abandons Proposal to Relax Insurance
Surrender Fees
● The Insurance Regulatory and Development Authority of India (IRDAI) decided to keep most
existing surrender charges intact in the revised product regulations, providing relief to life
insurance company investors.
● Policyholders cancelling their policies will receive less compared to what was initially proposed
under the draft exposure norms aimed at curbing mis-selling in December 2023.
● Responsibility of Boards: Under the new norms, boards of insurance companies are tasked with
ensuring fair pricing in insurance products, highlighting the importance of governance and
oversight in the industry.
● Surrender Charges Status Quo: The revised product regulations largely maintain the status quo
on surrender charges, providing stability in this aspect of insurance policies.
● Revision of Special Surrender Charges: A revision of special surrender charges has been
introduced, benefiting policyholders by 10-15%, enhancing consumer protection in the insurance
sector.
● Objective of Draft Norms: The draft norms aimed to cap maximum surrender charges to
discourage premature policy exits, thereby curbing mis-selling practices and ensuring
policyholder interests are safeguarded.
State Bank of India and Axis Bank Innovate Mobile Apps to Expand Unified Payment Interface Market
Share
● Leading banks, such as State Bank of India (SBI) and Axis Bank are looking to increase their
Unified Payment Interface (UPI) market share by making innovations in their mobile application
that can be used by both customers and non-customers.
.
● Armed with third-party application provider licenses, these banks are aggressively entering the
UPI space, which is currently dominated by PhonePe, Google Pay, and Paytm.
● Revamped YONO 2.0 Platform: SBI is set to launch an upgraded YONO 2.0 platform accessible
to both customers and non-customers.
● National Payments Corporation of India(NPCI) data reveals that UPI transaction volumes
exceeded 12 billion, with a transaction value surpassing Rs 18 trillion in December.
● Other Banks Target Non-Customers: Besides SBI, YES Bank, Axis Bank, and ICICI Bank are
also targeting non-customers through their mobile applications, indicating a widespread trend in
the banking sector.
About UPI :
● Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single
mobile application.
● It is developed by the National Payments Corporation of India (NPCI).
● It was introduced in April 2016.
Reserve Bank of India Holds 3 variable rate repo Auctions Amid Overnight Rates Surpassing marginal
standing facility Rate
● The Reserve Bank of India (RBI) conducted 3 variable rate repo (VRR) auctions to ease the
liquidity tightness in the banking system.
● As per the latest data by the RBI, The liquidity deficit in the system widened to ₹1.38 trillion.
● Consequently, weighted average money market rates rose above the marginal standing facility
(MSF) rate.
Details of VRR auctions:
● First 14-day VRR auction:
➢ Bids received: Rs 1.05 trillion against the notified amount of Rs 25,000 crore.
➢ Allotted funds: Rs 25,004 crore.
➢ Weighted average rate: 6.73 percent.
● Second 4-day VRR auction:
➢ Bids received: Rs 1.32 trillion against the notified amount of Rs 50,000 crore.
● Third 4-day VRR auction:
.
➢ Bids received: Rs 40,700 crore against the notified amount of Rs 50,000 crore.
HDFC Bank and TD Bank Group Collaborate to Enhance Banking Services for Indian Students in
Canada
● HDFC Bank and TD Bank Group have announced an expanded pact to support Indian students
planning to study in Canada.
● With this agreement, TD and HDFC Bank have announced a new referral programme where
HDFC Bank will refer students planning to study in Canada to TD’s International Student GIC
Program, which enables students to comply with the Government of Canada’s Student Direct
Stream (SDS) study permit pathway.
● Purpose of TD International Student GIC Program: To facilitate the opening of accounts digitally
for students and help them meet their study visa and living expense requirements in Canada.
About HDFC Bank :
● Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
● MD & CEO : Sashidhar Jagdishan
● Tagline : We Understand Your World
Life Insurance Corporation of India Named World's Strongest Insurance Brand by Brand Finance
Insurance Report
● According to the Brand Finance Insurance 100 2024 report, Life Insurance Corporation of India
(LIC) is recognized as the world's strongest insurance brand, with a steady brand value of $9.8
billion, a brand strength index score of 88.3, and an associated AAA brand strength rating.
● Top Insurance Brands : Cathay Life Insurance is the second strongest brand, with a 9% increase
in brand value to $4.9 billion, followed by NRMA Insurance, which saw an 82% rise in brand
value to $1.3 billion.
● Meanwhile, Chinese insurance brands maintain dominance in the global rankings of most
valuable insurance brands, with Ping An leading with a 4% increase in brand value to $33.6
billion followed by China Life Insurance and CPIC retaining their 3rd and 5th positions,
respectively.
.
● Allianz from Germany and AXA from France are holding on to their 2nd and 4th positions in the
top 5 rankings.
● Financial Performance of LIC: LIC achieved the highest first-year premium collection of Rs
39,090 crore in the financial year 2023, while SBI Life Insurance and HDFC Life Insurance led
the private sector with new business premium collections of Rs 15,197 crore and Rs 10,970
crore, respectively.
● Employee Benefits : The government also approved a 17% wage revision for LIC employees,
effective from August 2022, benefiting over 110,000 employees.
About LIC :
● Chairman : Siddharth Mohanty
India's Forex Reserves Increase by $32.9 Billion on Balance of Payments Basis from April to December
2023
● India’s foreign exchange reserves increased by $32.9 billion during April-December 2023, on a
balance of payments basis (excluding valuation effects), as against a depletion of $14.7 billion
during the year-earlier period, data released by the Reserve Bank of India (RBI) showed.
● Nominal Increase in Forex Reserves: On a nominal basis, which includes valuation effects,
India's foreign exchange reserves saw a substantial increase of $44.0 billion during April to
December 2023.
● This contrasts with a decrease of $44.6 billion observed during the same period in the previous
year.
● Valuation Gain: The valuation gain amounted to $11.1 billion during April to December 2023.
What is balance of payments (BoP)?
● The Balance of Payments (BoP) is a systematic account that tracks all economic dealings
between a country's residents and the rest of the world over a defined period, typically annually.
● It operates on the principle of the Double Entry System and is structured into two sides: the
Credit side and the Debit side.
● The balance of payment is divided into three types:
➢ Current account
➢ Capital account
.
➢ Finance account
Tata Capital Raises $200 Million via Foreign Term Loans

● Tata Capital Limited, the flagship financial services company of the Rs 31-lakh crore Tata Group,
has raised $200 million through a three- year loan from Singapore's DBS Bank and Taiwan's
CTBC Bank.
● Tata Capital has the flexibility to price the loan at 120 basis points above the one month, three
months, or six months Secured Overnight Financing Rate (SOFR), aligning with market
movements.
● ECB Programme: The funds raised are part of Tata Capital's $750-million external commercial
borrowing (ECB) programme, in compliance with guidelines set by the Reserve Bank of India
(RBI).
● Financial Performance: Tata Capital reported a net profit of Rs 1,023 crore in the quarter ended
December 2023, marking a significant increase of 78% compared to the same period the
previous year.
● Credit Ratings:In Feb 2024, the Tata Capital Ltd obtained a first-time long-term issuer credit
rating of 'BBB-' from global rating agencies Standard and Poor's (S&P) and Fitch Ratings, which
is equivalent to India's sovereign rating.
About Tata Capital Limited :
● Founded : 2007
● MD & CEO : Rajiv Sabharwal
Insurance Regulatory and Development Authority of India Approves Creation of Bima Sugam: Online
Insurance Marketplace for Streamlined Policy Processes
● The Insurance Regulatory and Development Authority of India (IRDAI) has approved the
establishment of Bima Sugam, an online insurance marketplace, aimed at simplifying the process
of buying, selling, and servicing insurance policies, as well as settling claims.
● Single Interface for Insurance: Bima Sugam will serve as a single interface for customers,
intermediaries, and agents, facilitating the buying and selling of insurance policies across
insurers in various categories such as life, health, and non-life.
● E-commerce Platform: Bima Sugam functions as an e-commerce platform where insurance
.
companies can offer their products, providing customers with a seamless end-to-end digital
journey.
● Paperless Policies: The platform eliminates paperwork by offering policies in electronic format,
allowing customers to access all their policies (life, health, and non-life insurance) in one
application or window.
IRDAI Decision to Maintain Surrender Value Norms Seen as Favorable for Life Insurers by Analysts
● The Insurance Regulatory and Development Authority of India (IRDAI) decision to retain the
existing surrender value norms, amid requests from life insurance companies, is deemed positive
for the companies.
● The norms will be effective on April 1, 2024.
● In the new norms, the guaranteed surrender value (GSV) under the revised regulations for other
than single premium products is 30 percent if the policy is surrendered in the second year, 35 per
cent in the third year, 50 per cent between four years and seven years, and 90 per cent during
the last two years.
● For single premium products, the GSV will be 75 per cent if surrendered within three years and
90 per cent if surrendered in the last two years of the policy tenure.
● An industry official noted that the regulation is broadly in line with the existing regulation on
surrender value, with policyholders getting a near 8-10 percent benefit in longer tenure (above
five years) non-participating (non-par) policies.
Reserve Bank of India Unveils Monetary Policy Committee Schedule for Fiscal Year 2025; Inaugural
Meeting Set for April 3-5
● The Reserve Bank of India (RBI) released its monetary policy committee (MPC) schedule for the
upcoming financial year 2024-25 (FY25)- starting from April 1, 2024.
● The RBI in its schedule highlighted that the first policy meeting for FY25 will be conducted from
April 3-5, 2024.
Meeting Dates: The MPC meetings for FY25 are scheduled as follows:
➢ April 3-5, 2024
➢ June 5-7, 2024
➢ August 6-8, 2024
➢ October 7-9, 2024
.
➢ December 4-6, 2024

➢ February 5-7, 2025
➢ Repo Rate Maintained: In its meeting held from 6-8 February 2024, the RBI decided to maintain
the repo rate at 6.5%.
Decrease in Short-Term Rates Amid High Demand for Variable Rate Repo Auctions
● The Reserve Bank of India (RBI) received bids worth Rs 1.52 trillion against a notified amount of
Rs 1 trillion at the overnight variable rate repo (VRR) auction.
● The RBI allotted Rs 1 trillion at a weighted average rate of 6.73 per cent.
● The liquidity deficit in the banking system widened to Rs 1.22 trillion.
● Weighted average money market rates fell to 6.66 per cent, indicating a decrease from the
previous rate of 6.77 per cent.
● The central bank had conducted 3 VRR auctions to ease liquidity tightness in the banking
system.
Housing Finance Companies Anticipate 12-14% Growth in Assets Under Management for FY24 and
FY25
● According to CareEdge Ratings, Housing finance companies’ Assets under management (AUM)
is seen growing 12-14% in FY24 and FY25 led by continued growth According to CareEdge
Ratings, Housing finance companies’ Assets under management (AUM) is seen growing 12-14%
in FY24 and FY25 led by continued growth momentum in housing loans coupled with an
expected revival in developer loans.
● Although the share of wholesale financing in HFCs' portfolios is expected to increase in the
medium term, it is likely to remain cautious, hovering within the range of 10-12%.
● Comparison with Banks: Housing loans provided by banks stood at ₹19.4 lakh crore, highlighting
the substantial presence of both HFCs and banks in the housing loan market.
● Improvement in Net NPA: The Net NPA to net worth ratio for HFCs improved from 16.6% to
11.7%, indicating enhanced asset quality and financial stability.
● Provision Cover Ratio: The Stage 3 provision cover ratio, estimated at 42% as of March 2023, is
projected to remain healthy, ranging between 44-46% in the near to medium term, suggesting
adequate provisioning against potential loan defaults.
What is an Assets under management (AUM)?
.
● Assets under management (AUM) represent the collective market worth of investments held or
overseen by a financial entity, including banks, mutual funds, and hedge funds, for its clientele.
● AUM calculation methods vary, typically considering the total capital under the firm's
management or assessing the funds belonging to individual clients.
● This figure is subject to daily fluctuations, mirroring the dynamic returns derived from stocks,
mutual funds, and alterations in the prices of fixed investments.
Securities and Exchange Board of India Queries Mutual Funds on Potential Mis-selling of Funds
● India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has further
tightened scrutiny on mutual funds by asking whether they mis-sold certain fund categories to
investors.
● The categories under the lens include small-cap funds, retirement funds, credit risk funds and
lock-in funds.
● The latest action by SEBI aims to proactively address any potential issues and maintain oversight
in the mutual fund industry.
● Retirement Fund Lock-in Period:A retirement fund typically has a lock-in period of 5 years or until
retirement, whichever comes earlier.
● Types of Lock-in Funds:Lock-in funds include fixed maturity plans, target maturity plans, and
ELSS (equity-linked savings scheme), where investors are bound for the duration of the scheme.
● Credit Risk Fund:Credit risk funds primarily invest 65% of their portfolio in risky company bonds
to potentially achieve higher returns.
● Liquidation Periods:Top small-cap funds would take 6-30 days to liquidate 25% of their portfolio
and 12-60 days to liquidate 50% under stress conditions.
● Market Performance:Investors in small caps experienced an 8.5% pullback in the Nifty Small Cap
250 index from its record high on 7 February to 26 March.
● The Nifty Midcap 150 also declined by 3.7% from its record high on 8 February, despite the
broader Nifty index falling by just 2.3% from its record high on 11 March.
Star Health and Allied Insurance Company Limited to Provide Dollar-Denominated Insurance for NRIs
from GIFT City, Gujarat
● Star Health and Allied Insurance Company Limited will offer dollar-denominated insurance from
Gujarat International Finance Tec-City (GIFT City) for Non-Resident Indians (NRIs).
.
● Star Health became the first health insurance company to receive registration to establish an
International Financial Services Centre (IFSC) international office in GIFT City.
● It plans to commence operations with a branch by the end of this month, facilitating access to
health insurance solutions in US dollars for the global Indian community.
About Star Health and Allied Insurance Company Limited :
● Founded : 2006
● Headquarters : Chennai, Tamil Nadu, India
● MD & CEO : Anand Roy
Government Releases Updated List of Banks Authorized for Gold and Silver Imports in Fiscal Year
2025
● The government has updated the list of banks authorized to import gold and silver during the
fiscal year 2024-25.
● The authorization for importing gold and silver has been granted by the Reserve Bank of India
(RBI), which is the central banking institution in India.
● The authorization is effective from April 1, 2024, indicating the beginning of the fiscal year, and it
will be valid until March 31 of the following year, aligning with the fiscal year-end.
● Authorized Banks: A total of 11 banks, including prominent ones like HDFC Bank and ICICI
Bank, have been authorized to import both gold and silver during 2024-25.
● Special Authorization for Gold Import: 3 banks - Indian Overseas Bank (IOB), Punjab National
Bank (PNB), and Union Bank of India (UBI) - have been specifically authorized to import only
gold during the fiscal year.
LIC, GIC Re, New India Remain Designated Systemically Important Insurers (D-SIIs) for 2023-24,
Confirms IRDAI
● The public sector insurance companies – Life Insurance Corporation of India (LIC), General
Insurance Corporation of India (GIC Re) and the New India Assurance Company continue to be
identified as Domestic Systemically Important Insurers (D-SIIs) by the Insurance Regulatory and
Development Authority of India (IRDAI).
What are Domestic Systemically Important Insurers?
● D-Slls refer to insurers of such size, market importance and domestic and global
interconnectedness, whose distress or failure would cause a significant dislocation in the
.
domestic financial system.

● Besides the perception that D-Slls are too big or too important to fail, the perceived expectation
of government support may amplify risk-taking, reduce market discipline, create competitive
distortions and increase the possibility of distress in the future.
● These considerations require that D-Slls be subjected to additional regulatory measures to deal
with systemic risks and moral hazard issues.
RBI Offices to Temporarily Halt Exchange and Deposit Services for ₹2000 Banknotes on April 1
● The Reserve Bank of India (RBI) announced that the facility to exchange or deposit Rs 2,000
banknotes will not be available on April 1, 2024 due to operations associated with the annual
closing of accounts.
● The facility will resume April 2, 2024 at the 19 issue offices of the RBI.
● The 19 RBI offices depositing/exchanging the bank notes are in Ahmedabad, Bengaluru,
Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu,
Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
Commodity Participants Association of India Urges Prompt Clarification Regarding RBI's New
Regulation on Exchange-Traded Rupee Derivatives
● The Commodity Participants Association of India (CPAI) has requested timely clarification and
Frequently Asked Questions (FAQs) documents from the stock exchanges regarding the
Reserve Bank of India's (RBI) new rule for rupee derivatives, set to be effective from April 5,
2024.
● The RBI issued a circular on January 5, 2024 outlining that recognized stock exchanges may
offer forex derivative contracts involving the rupee to users for hedging contracted exposure.
About CPAI :
● The Commodity Participants Association of India was formed in 2006.
● It is a body comprising participants of all recognised commodities, currency & equity exchanges.
● It is the only registered All India Association of all the National Commodity Exchanges and
composed of Commodities Participants of the recognized Commodity Exchanges like MCX,
NCDEX, NMCE, ICEX etc.
NTPC Secures $200 Million Loan Agreement with Japan Bank for International Cooperation
.
● The state-run NTPC group has signed foreign currency loan agreements worth JPY 30 billion
(approximately $200 million) with the Japan Bank for International Cooperation (JBIC).
● Loan Allocation : The loan facility of around ₹1,650 crore extended by the Japanese
Government’s policy-based financial institution, is divided into two halves for NTPC and its clean
energy solutions arm NTPC Renewables Energy (NREL).
● Financing Structure : JBIC has provided 60 per cent of the facility amount and the balance of the
facility amount has been provided by other commercial banks under JBIC guarantee.
● Purpose of the Loan : The facility has been extended under JBIC’s initiative, Global action for
reconciling economic growth and Environment Preservation (GREEN), for projects that ensure
conservation of the global environment.
About Japan Bank for International Cooperation :
● Headquarters : Tokyo, Japan
● President & CEO : Tadashi Maeda
● JBIC, is a Japanese public financial institution and export credit agency that was created on
October 1, 1999, through the merger of the Japan Export-Import Bank (JEXIM) and the Overseas
Economic Cooperation Fund (OECF).
Decline in Number of Currency Chests and Coin Depots Noted: CCs Drop to 2,838 from 3,812 in FY19,
Coin Depots at 2,293 from 3,519
● The number of currency chests (CCs) in the country stands at 2,838 in FY23 from 3,812 in FY19
while that of coin depots is at 2,293 (3,519).
● This follows the Reserve Bank of India (RBI) revamping its systems in FY19– as in getting bigger
storage units.
● The amount of cash in CCs was placed at a minimum of ~1,000 crore and was to be housed in a
1,500 sq ft strong room in hilly and inaccessible places.
● The strong room was to be at least 600 sq ft.
● State Bank of India's Dominance: In FY23, the State Bank of India accounted for the highest
share (53.14%) of currency chests in the country.
● QR Code-Based Coin Vending Machine (QCVM) : The QR code-based Coin Vending Machine
(QCVM) has been introduced in collaboration with 5 lenders: Axis Bank, Bank of Baroda, ICICI
Bank, State Bank of India, and Federal Bank.
● The QCVM is a cashless coin dispensation system which allows payment transactions through
.
UPI on scanning a QR code generated by the machine on the mobile phone of the customer.
● Unlike cash-based traditional coin vending machines, the QCVM eliminates the need for physical
tendering of banknotes.
What is a Currency Chest?
● Currency chests are established by select scheduled banks authorized by the Reserve Bank of
India (RBI) to stock money meant for banks and ATMs.
● The RBI holds monitoring authority over currency chests and conducts periodic inspections
through its representatives.
● New currency notes printed by the RBI are initially delivered to currency chests before
distribution to other banks.
● Currency chests serve as cash distribution centers and are responsible for distributing banknotes
and rupee coins to other bank branches within their operational area.
CABINET APPROVALS
A. The National One Health Mission for integrated disease control and pandemic preparation will be
led by the Director of the National Institute of One Health, Nagpur, who will be appointed at the
rank of scientist 'H' (pay level-15) by the Cabinet.
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal of
creation of one post at the level of Scientist H (in the pay level 15) as Director of National Institute
of One Health, Nagpur who will also serve as the Mission Director for the multi-Ministerial and
multi-sectoral National One Health Mission for integrated disease control and pandemic
preparedness, by bringing human, animal, plant and environmental sectors together.
 The creation of one post of Director of the National Institute of One Health at the level of Scientist
'H' in the pay level 15 (Rs.1,82,000 - Rs.2,24,100) will have annual financial implications of approx.
Rs.35.59 lakhs.
B. Giant leap for India Semiconductor Mission: Cabinet approves three more semiconductor units
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the establishment of
three semiconductor units under ‘Development of Semiconductors and Display Manufacturing
Ecosystems in India.
 All three units will start construction within the next 100 days.
.
 The Programme for Development of Semiconductors and Display Manufacturing Ecosystem in

India was notified on 21.12.2021 with a total outlay of Rs. 76,000 crore.
 In June, 2023, the Union Cabinet approved the proposal of Micron for setting up a semiconductor
unit in Sanand, Gujarat.
C. Cabinet approves PM-Surya Ghar: Muft Bijli Yojana for installing rooftop solar in One Crore
households
 The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved PM-Surya Ghar:
Muft Bijli Yojana with a total outlay of Rs.75,021 crore for installing rooftop solar and providing free
electricity up to 300 units every month for One Crore households.
 The Prime Minister launched the scheme on 13th February, 2024.
D. Cabinet approves Nutrient Based Subsidy (NBS) rates for KHARIF Season, 2024 on Phosphatic
and Potassic (P&K) fertilizers and Inclusion of 3 new Fertilizer grades under NBS scheme
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal of the
Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for KHARIF Season,
2024 (from 01.04.2024 to 30.09.2024) on Phosphatic and Potassic (P&K) fertilizers and inclusion
of 3 new fertilizer grades under NBS scheme.
 The tentative budgetary requirement for Kharif season 2024 would be approximately Rs.24,420
crore.
E. Cabinet approves royalty rates for mining of 12 critical and strategic minerals - Beryllium,
Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten,
and Vanadium
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the amendment of the
Second Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 ('MMDR
Act') for specifying rate of royalty in respect of 12 critical and strategic minerals, viz., Beryllium,
Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten
and Vanadium.
 This completes the exercise of the rationalisation of royalty rates for all 24 critical and strategic
minerals.
.
F. Cabinet approves establishment of International Big Cat Alliance (IBCA)

 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the establishment of
the International Big Cat Alliance (IBCA) with headquarters in India with a one-time budgetary
support of Rs.150 crore for a period of five years from 2023-24 to 2027-28.
 Acknowledging India's leading role in conserving tigers, other big cats and many of its endangered
species, the Prime Minister of India during his speech on the occasion of Global Tiger Day, 2019
called for an Alliance of Global Leaders to curb poaching in Asia.
G. Cabinet Approves Minimum Support Price for Raw Jute for 2024-25 Season
 The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi,
has approved the Minimum Support Prices (MSP) for Raw Jute for 2024-25 season.
 The MSP of Raw Jute (TDN-3 equivalent to earlier TD-5 grade) has been fixed at Rs.5,335/- per
quintal for 2024-25 season.
 This would ensure a return of 64.8 percent over the all India weighted average cost of production.
 The announced MSP of raw jute for 2024-25 season is in line with the principle of fixing the MSP at
a level of at least 1.5 times all India weighted average cost of production as announced by the
Government in the Budget 2018-19.
H. Cabinet Approves Ambitious IndiaAI Mission to Strengthen the AI Innovation Ecosystem

 In furtherance to the vision of Making AI in India and Making AI Work for India, the Cabinet chaired
by the Prime Minister Shri Narendra Modi has approved the comprehensive national-level IndiaAI
mission with a budget outlay of Rs.10,371.92 crore.
 The IndiaAI mission will establish a comprehensive ecosystem catalyzing AI innovation through
strategic programs and partnerships across the public and private sectors.
I. Cabinet approves Uttar Poorva Transformative Industrialization Scheme, 2024

Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade for
Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024) for a period of 10
years from the date of notification along with 8 years for committed liabilities at a total cost of
Rs.10,037 crore.
.
 The financial outlay of the proposed scheme is Rs.10,037 crore for the scheme period from the
date of notification for 10 years. (Additional 8 years for committed liabilities).
J. Cabinet approves additional instalment of Dearness Allowance and Dearness Relief to Central
Government employees and pensioners
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved to release an
additional instalment of Dearness Allowance (DA) to Central Government employees and
Dearness Relief (DR) to pensioners w.e.f. 1.1.2024 representing an increase of 4% over the
existing rate of 46% of the Basic Pay/Pension, to compensate against price rise.
 The combined impact on the exchequer on account of both Dearness Allowance and Dearness
Relief would be Rs.12,868.72 crore per annum
.
K. Cabinet approves introduction of the Readjustment of Representation of Scheduled Tribes in
Assembly Constituencies of the State of Goa Bill, 2024
Ministry of Law & Justice for the introduction of the Readjustment of Representation of Scheduled
Tribes in Assembly Constituencies of the State of Goa Bill, 2024 in Parliament.
 To ensure that the Constitutional rights of the Scheduled Tribes in the State of Goa are
safeguarded, it is imperative to enact a law to provide for enabling provisions empowering the
Election Commission to make amendments in the Delimitation of Parliamentary and Assembly
Constituencies Order, 2008 and readjust the seats in the Legislative Assembly of the State of Goa
for the Scheduled Tribes of the State.
L. Cabinet approves signing of an MoU between India and Bhutan on co-operation in the field of
Energy Efficiency and Energy Conservation Measures
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the signing of the
Memorandum of Understanding (MoU) between India and Bhutan on extending cooperation in the
field of Energy Efficiency and Energy Conservation Measures.
 The MoU was signed between the Bureau of Energy Efficiency, Ministry of Power, Government of
India and the Department of Energy, Ministry of Energy and Natural Resources, Royal Government
of Bhutan.
.
M. Cabinet approves signing of an Agreement between India and Bhutan in the area of Food Safety
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the signing of an
Agreement between Bhutan Food and Drug Authority (BFDA), Ministry of Health, the Royal
Government of Bhutan and the Food Safety and Standards Authority of India (FSSAI) regarding
cooperation in the areas of food safety.
 The signing of this Agreement between Bhutan Food and Drug Authority (BFDA), Ministry of
Health, Royal Government of Bhutan and Food Safety and Standards Authority of India (FSSAI),
Ministry of Health & Family Welfare, Government of India will facilitate the trade between two
neighboring countries.
N. Arab Emirates on cooperation for the empowerment and operation of the India-Middle East Europe
Economic Corridor
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi gave its Ex-post facto approval
to the Inter-Governmental Framework Agreement (IGFA) that was signed during the High-Level
visit between the Government of the Republic of India and the Government of the United Arab
Emirates on Cooperation for the empowerment and operation of the India-Middle East Europe
Economic Corridor (IMEC).
 The IGFA aims to enhance the bilateral relations and to further strengthen the relations between
the two countries in the Ports, Maritime and Logistics sectors.
 The IGFA includes areas of cooperation between the two countries to explore further potential of
future joint investment and collaboration in respect of the development of the IMEC.
 The Agreement contains a detailed framework for cooperation between the two countries.
O. Cabinet approves two corridors of Delhi Metro Phase-IV projects namely (i) Lajpat Nagar to Saket
G-Block and (ii) Inderlok to Indraprastha
 The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved two new corridors of
Delhi Metro's Phase-IV project which are expected to further improve the Metro connectivity in the
national capital. The two corridors are;
a) Inderlok - Indraprastha 12.377 km
b) Lajpat Nagar - Saket G Block 8.385 km
.
 Total project cost of these two corridors of Delhi Metro's Phase - IV project is Rs.8,399 crore,
which will be sourced from the Government of India, Government of Delhi, and international
funding agencies.
P. Cabinet approves signing of Memorandum of Understanding (MoU) between India and Bhutan on
General Supply of Petroleum, Oil, Lubricants (POL) and related products from India to Bhutan
 The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, has given its approval of
signing of Memorandum of Understanding between the Government of India and the Royal
Government of Bhutan on General Supply of Petroleum, Oil, Lubricants (POL) and related
products from India to Bhutan.
 It aims to benefit India and its citizens with improved economic and commercial linkages with
Bhutan irrespective of any gender, class or income bias, particularly in the area of hydrocarbon
sector.
NATIONAL NEWS
Prime Minister Modi unveils 35,700 crore rupee development projects in Jharkhand.
 Prime Minister Narendra Modi inaugurated and laid the foundation stone for multiple development
projects worth 35,700 crore rupees in Jharkhand from Sindri in Dhanbad district.
 These projects are related to fertiliser, rail, power, and coal sectors.
 Mr. Modi dedicated to the nation the Hindustan Urvarak & Rasayan Ltd's (HURL) Sindri fertiliser
plant, to attain self-sufficiency in the urea sector.
 The plant has been developed at a cost of over 8,900 crore rupees.
Two National Highway projects valued at Rs. 1750 crore are inaugurated at Mirzapur, Uttar Pradesh, by
Shri Nitin Gadkari.
 Union Minister of Road Transport & Highways, Shri Nitin Gadkari laid the foundation stone of 2
National Highway projects worth Rs 1750 crore in Mirzapur in the presence of state ministers and
MPs, MLAs and officials.
 Mirzapur district, situated under the shadow of Mother Vindhyavasini, is religiously and naturally
important.
 To develop this entire region, the foundation stone of 2 ambitious National Highway projects
costing more than Rs 1750 crore has been laid.
.
Shri Nitin Gadkari authorizes Rs 6728.33 crore to build 8 sections of National Highway-913 in Arunachal
Pradesh totaling 305.50 km.
 Union Minister for Road Transport and Highways, Shri Nitin Gadkari in a post said in Arunachal
Pradesh, an allocation of Rs. 6728.33 crore has been granted for constructing 8 stretches on NH-
913 (Frontier Highway) as Intermediate Lane Road, spanning 305.50 Km on EPC mode.
 This development aims to enhance connectivity to border areas, fostering socio-economic
progress.
 The Frontier Highway construction is anticipated to curb migration, encouraging reverse habitation
towards Arunachal Pradesh’s border regions.
Shri Nitin Gadkari authorizes Rs. 3549.48 crore for Madhya Pradesh's National Highways projects,
including their building and strengthening.
 Union Minister for Road Transport and Highways, Shri Nitin Gadkari has approved Rs. 3549.48
crore for the construction and strengthening of various National Highways projects in Madhya
Pradesh.
 An allocation of Rs. 776.19 crore has been approved for 4-laning of 41 km length section of
National Highway-146 B (Shahganj Bypass end to Badi Package-IV) in Sehore and Raisen districts
of Madhya Pradesh under Hybrid Annuity Mode.
 An allocation of Rs. 1238.59 crore has been approved for making 6-lane service road on both
sides of Ayodhya bypass from Asharam Tiraha on National Highway-46 to Ratnagiri Tiraha on
National Highway-146 in Bhopal, Madhya Pradesh under hybrid amputee mode.
Prime Minister will present and lay the groundwork for MoPSW projects in West Bengal valued at over
Rs. 900 crore.
 Prime Minister, Shri Narendra Modi will launch multiple transformative projects of the Ministry of
Ports, Shipping and Waterways at Arambagh, Hooghly in Kolkata.
 These initiatives, collectively valued at more than Rs. 900 crore, signify a significant milestone in
the government's commitment towards development across the region.
 Prime Minister will inaugurate two projects namely the Augmentation of Fire Fighting System with a
cost of Rs. 108 crore to comply with the stringent guidelines outlined in OISD-156 for handling
hazardous materials like Propane, Butane, POL, and LPG products.
PM KISAN benefits worth over Rs 3 lakh crore transferred to farmers so far
 One of the largest Direct Benefit Transfer programmes in the world, PM KISAN has crossed a new
milestone.
.
 With Prime Minister Shri Narendra Modi releasing the 16th instalment from Yavatmal in
Maharashtra the scheme has benefitted more than 11 crore eligible farmer families with Rs 3 lakh
crores disbursed till date.
 Of this, Rs 1.75 lakh Crores was transferred to eligible farmers during the COVID period alone,
when they needed direct cash benefits the most.
 Government of India launched an ambitious scheme for farmers’ welfare - the Pradhan Mantri
Kisan Samman Nidhi (PM-KISAN) on 2nd February 2019.
Union Minister Mansukh Mandaviya inaugurates Greenfield projects under the PLI Scheme for bulk
medications and medical devices.
 Union Minister for Chemicals and Fertilizers Dr Mansukh Mandaviya inaugurated the Greenfield
Projects under the Production Linked Incentive Scheme-PLI Scheme for Bulk Drugs and Medical
Devices at a function in New Delhi.
 Under it, a total of 51 plants were inaugurated out of which 22 are for bulk drugs and 39 are related
to the manufacturing of various kinds of medical devices.
 In these plants, the bulk drugs being produced include Levofloxacin, Ofloxacin, Telmistran, Vitamin
B6 and Diclofenac Sodium among others.
Prime Minister dedicated to the country and established the groundwork for several development
projects in Aurangabad, Bihar, valued at Rs 21,400 crores.
 The Prime Minister, Shri Narendra Modi dedicated to the nation and laid the foundation stone for
multiple development projects worth Rs 21,400 crores in Aurangabad, Bihar.
 The development projects include the sectors of road, railway and Namami Gange among others.
 The Prime Minister also took a walkthrough of the photo gallery.
Establishing the foundation for sustainable steel production, the Union Minister of Steel inaugurates
India's first green hydrogen plant in the stainless steel sector.
 Union Minister for Steel and Civil Aviation, Sh. Jyotiraditya M. Scindia, today (4 March 2024)
virtually inaugurated India's 1st Green Hydrogen Plant in the Stainless Steel Sector located at
Jindal Stainless Limited, Hisar.
 The inauguration also witnessed the presence of the Secretary, Ministry of Steel Sh. Nagendra
Nath Sinha, Managing Director (Jindal Stainless Limited), Sh. Abhyuday Jindal, Founder, Hygenco
Sh. Amit Bansal, and other officials of the Ministry of Steel.
.
 One key initiative in this journey is the National Green Hydrogen Mission (NGHM), launched last
year with an outlay of around ₹20,000 crore with an aim to make India a Global Hub for production,
usage and export of Green Hydrogen and its derivatives. The Mission is also supporting pilot
projects in the steel sector with a budget of around ₹500 crore until FY 2029-30.
Prime Minister Modi unveils many development initiatives in Telangana valued at 56,000 crore rupees.
 Prime Minister Narendra Modi inaugurated, dedicated, and laid the foundation stone of over 30
development projects worth more than 56,000 crore rupees in Adilabad, Telangana.
 All these projects are related to sectors like Power, Oil and petroleum, rail and road sectors of
various states.
 The Prime Minister reached Telangana this morning on a 2-day visit.
 On the first leg of his visit to Telangana, Mr. Modi dedicated to the nation the 800 MW second unit
of NTPC’s Telangana Super Thermal Power Project in Peddapalli.
New Criminal Laws Replacing IPC, CrPC & Evidence Act To Come Into Force From July 1, 2024
 The three newly enacted criminal laws - Bharatiya Nyaya Sanhita 2023, Nagarik Suraksha Sanhita
2023 and Bharatiya Sakshya Adhiniyam 2023 - will come into effect from July 1.
 Bharatiya Nagarik Suraksha Sanhita, 2023, Bharatiya Nyaya Sanhit a, 2023 and Bharatiya
Sakshya Adhiniyam, 2023 will replace the Indian Penal Code of 1860, the Code of Criminal
Procedure of 1898 and the Indian Evidence Act of 1872.
Shri Anurag Singh Thakur announces setting up of Film Certification Facilitation Office in Chandigarh
 Union Minister of Information and Broadcasting Shri Anurag Singh Thakur announced the setting
up of a regional facilitation office of the Central Board of Film Certification (CBFC) in Chandigarh,
to promote ease of doing business for filmmakers of the region.
 CBFC centres to curb piracy.12 nodal officers across the country will receive complaints against
piracy and give instructions to remove pirated content on digital platforms.
 These changes, aimed at fostering efficiency, transparency, and inclusivity, signify a departure
from the rules established in 1983, addressing long-standing issues of corruption and
representation within the Central Board of Film Certification (CBFC).
Prime Minister Modi unveils many development initiatives in Telangana valued at 7,200 crore rupees.
 Prime Minister Narendra Modi laid the foundation stone and dedicated to the nation multiple
development projects worth over 7,200 crore rupees in Telangana from Sangareddy.
 These projects encompass sectors like road, rail, petroleum, aviation and natural gas.
.
 The Prime Minister inaugurated the Indian Oil Paradip-Hyderabad Product Pipeline which will carry
petroleum products in a cheaper and environmentally sustainable way.
 Telangana Governor Dr Tamilisai Soundararajan, and Union Minister, G Kishan Reddy were
present on the occasion among others.
Prime minister will introduce development initiatives in Odisha valued at around 19,600 million rupees.
 Prime Minister Narendra Modi will arrive at Bhubaneswar on a day-long visit to Odisha
 Mr Modi is scheduled to fly to Chandikhol in Jajpur district to inaugurate and lay the foundation
stone for multiple developmental projects worth 19,600 crore rupees.
 The projects relate to various sectors including oil and gas, railways, road, transport, national
highways and atomic energy.
 The Prime Minister is also scheduled to flag off a MEMU train on the Paradip-Haridaspur line
connecting Paradip to Keonjhar through Kendrapara.
Amit Shah launches umbrella body for urban co-op banks
 Union Home Minister and Minister of Cooperation, Shri Amit Shah inaugurated the umbrella
organization for Urban Cooperative Banks (UCBs), the National Urban Cooperative Finance and
Development Corporation Limited (NUCFDC), in New Delhi.
 The umbrella organization will provide various facilities to small banks, facilitate dialogue between
banks and regulators, and work on improving communication.
 The NUCFDC has received a Certificate of Registration (CoR) from the RBI to operate as a Non-
Banking Finance Company (NBFC) and serve as the umbrella organisation for the urban
cooperative banking sector.
 The NUCFDC aims to raise capital, with plans to reach a capital base of Rs.300 crores.
Indian government allows derivatives trading in skimmed milk powder, apples, bamboo and 8 other
commodities
 The Indian government has permitted derivatives trading in 11 more commodities including
skimmed milk powder, cement, apple, bamboo and timber based on a recommendation from the
Securities and Exchange Board of India (SEBI), which supervises the trading.
 Finance Ministry added these commodities under the Securities Contracts (Regulation) Act, 1956,
taking the total number of commodities in which derivatives trading can be done to 104.
India's First Underwater Metro to Be Opened in Kolkata by Prime Minister:
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 Prime Minister Narendra Modi will inaugurate India's first underwater metro rail service in Kolkata.
 The new metro line, called the Howrah Maidan-Esplanade section, will be the country's first
transportation tunnel beneath a major river.
 It passes beneath the River Hooghly, which separates Kolkata and Howrah cities on its east and
west banks.
 The Howrah metro station, part of this new line, will hold the distinction of being India's deepest
metro station.
PM inaugurates and places the cornerstone for many connectivity projects in Kolkata, West Bengal,
totalling Rs 15,400 crores.
 The Prime Minister, Shri Narendra Modi inaugurated and laid the foundation stone for multiple
connectivity projects worth Rs 15,400 crores in Kolkata.
 The development projects catering to the urban mobility sector include Metro Rail and Regional
Rapid Transit System (RRTS).
 The Prime Minister took an overview of all metro projects and took a metro ride on the Esplanade -
Howrah Maidan metro route, India's first Underwater Metro in Kolkata.
The 4-laning of National Highway -748A in Karnataka has been sanctioned by Shri Nitin Gadkari for a
sum of Rs. 2675.31 crore.
 Union Minister for Road Transport & Highways, Shri Nitin Gadkari in a post saidin Karnataka,a
substantial sum of Rs. 2675.31 crore has been sanctioned for the 4-Laning of the Belgaum-
Hungund-Raichur Section of National Highway-748A in Bagalkot &Belgavi districts, employing the
Hybrid Annuity Mode.
 This initiative spans a total length of 92.40 Km.
 An integral part of the Panaji-Hyderabad EC10 corridor.
Below 3% of India's population under `extreme poverty': World Poverty Clock
 India has managed to bring down ‘extreme poverty’ below 3 per cent of its population, the latest
data on the World Poverty Clock showed.
 This could mean achieving significant milestones in the direction of the first of 17 Sustainable
Development Goals (SDG), as prescribed by the United Nations with a timeline of 2030.
 Extreme Poverty is now eliminated in India.
 The World Poverty Clock updates: shows India’s extreme poverty at less than 3 per cent.
Smt. Nirmala Sitharaman virtually launches seven infra projects worth ₹1,000 crores
.
 Finance Minister Nirmala Sitharaman virtually launched seven infrastructure projects worth over
₹1,000 crore.
 The inaugurated projects include unveiling the plaque for the construction of residential quarters of
Income Tax Department officers at Faridabad and Gurugram.
 She inaugurated the State Bank of India’s new local head office building and the Life Insurance
Corporation of India’s International Business Centre building.
The Government Launches Digital Intelligence Platform for Telecom Fraud
 Minister of Communications, Railway, and Electronics & Information Technology Mr Ashwini
Vaishnaw in the presence of Minister of State for Communications, Mr. Devusinh Chauhan
launched the Department of Telecommunications (DoT)’s ‘Digital Intelligence Platform (DIP)’ for
coordination among the stakeholders to curb misuse of telecom resources in cyber-crime and
financial frauds, and ‘Chakshu (च )ु ’ facility on Sanchar Saathi portal (https://sancharsaathi.gov.in),
a pioneering initiative empowering citizens to proactively report suspected fraud communication.
Prime Minister watches core loading of first indigenous fast breeder reactor
 Prime Minister Narendra Modi witnessed the commencement of “core loading” at India’s first
indigenous Fast Breeder Reactor (500 MWe) at Kalpakkam.
 India has developed comprehensive capabilities spanning the entire spectrum of the nuclear fuel
cycle.
 The government had approved 2003, the creation of Bhar tiya Nabhikiya Vidyut Nigam Ltd.,
(BHAVINI) to construct and operate India’s most advanced nuclear reactor-Prototype Fast Breeder
Reactor (PFBR).
Prime Minister Modi unveils projects worth Rs.6,400 crores in Srinagar
 Prime Minister Narendra Modi unveiled various developmental projects worth more than 6400
crore rupees at Bakshi stadium in Srinagar in Jammu and Kashmir.
 During his day-long visit to the Kashmir valley, the Prime Minister participated in the ‘Viksit Bharat,
Viksit Jammu Kashmir’ programme.
 This is Mr Modi’s first visit to Kashmir post abrogation of Article 370 in August 2019.
 Earlier, the Prime Minister launched the 5,000 crore Rs worth programme - the ‘Holistic Agriculture
Development Programme’ - for boosting agri-economy in J&K.
Hardeep S. Puri launches and places the cornerstone for 177 development projects in Uttar Pradesh for
Rs 10.41 crores
.
 Shri Hardeep Singh Puri, Minister of Housing & Urban Affairs and Petroleum & Natural Gas,
virtually inaugurated and laid the foundation stone for 177 development projects in Sonbhadra
district of Uttar Pradesh.
 The projects worth Rs 10 crore 41 lakh are funded from Shri Puri’s MPLAD fund as part of the MP
Local Area Development Scheme.
Government notifies FDI norms for space; move may bring in $44 bn by 2033
 The government notified the amended FDI norms in the space sector, clearing the deck for 100 per
cent overseas investment in making components for satellites, 74 per cent in satellite
manufacturing and operations, and 49 per cent in launch vehicles.
 Anything beyond the limit will need government approval.
 The recent move comes against the backdrop of tepid foreign investment into the country’s space
sector over the last two years.
 Satellite Data Products refer to reception, generation or dissemination of earth observation/remote
sensing satellite data and data products including Application Interfaces (API).
Minister Hardeep S Puri inaugurates 201 CNG stations and India’s first Small Scale LNG Unit of GAIL
 Union Minister for Petroleum and Natural Gas Hardeep Singh Puri inaugurated India’s first Small
Scale LNG Unit of GAIL.
 This unit of Gas Authority of India Limited (GAIL) is situated at its Vijaipur LPG plant in Madhya
Pradesh.
 The CNG stations have been set up with an investment of Rs 500 crore and are spread across 52
geographical areas in 17 states.
Prime Minister to present first-ever National Creators Award:
 Prime Minister Shri Narendra Modi will present the first ever National Creators Award at Bharat
Mandapam, New Delhi.
 Prime Minister will also address the gathering on the occasion.
 The National Creators Award is an effort to recognize excellence and impact across domains,
including storytelling, social change advocacy, environmental sustainability, education, and
gaming, among others.
 The award is envisioned as a launchpad for using creativity to drive positive change.
Union Minister Ashwini Vaishnaw launches NITI Aayog’s – ‘NITI for States’ Platform
 Shri Ashwini Vaishnaw, Union Minister of Communications, Railways, and Electronics &
Information Technology, launched the 'NITI for States' platform, a comprehensive digital initiative
.
designed to empower states and union territories (UTs) in their pursuit of national development
goals.
 Shri Vaishnaw, also inaugurated the ‘NITI For States - Viksit Bharat Strategy Room’ at NITI Aayog
in the presence of Prof. Ramesh Chand, Dr V. K. Saraswat, & Dr. Arvind Virmani, Members of NITI
Aayog and Shri B.V.R. Subrahmanyam, CEO, NITI Aayog.
Crossing 900 Million Tons, Coal Production reaches an unprecedented milestone
 The coal production in India has reached an unprecedented milestone, crossing 900 million tons
(MT), setting the stage to approach the ambitious 1 billion ton (BT) target by March 31, 2024.
 Notably, during the current fiscal year i.e. 2023-24, India has achieved a remarkable feat by
surpassing last year's coal production of 893.19 MT, twenty-seven days in advance.
 Additionally, there is ample coal stock of around 85 MT available with coal companies, while
domestic coal-based thermal power plants maintain coal stocks of 43.28 MT as of March 5, 2024,
ensuring uninterrupted power supply across the country.
Ashwini Vaishnaw Launches India's Fastest And Indigenously Designed Router In Bengaluru
 Union Minister for Communication, Electronics, IT and Railways Ashwini Vaishnaw launched
India’s fastest and indigenously developed Multiprotocol Label Switching router in Bengaluru.
 This will bolster India’s digital infrastructure and support the demand for high-speed data
processing and transmission.
 An indigenous router of 2.4 Terabits Per Second speed, has been developed in India.
PM virtually inaugurates and lays the foundation of projects worth Rs 8,500 cr in Tripura
 Prime Minister Narendra Modi inaugurated and laid the foundation stone of about 12 projects worth
8,534 crore rupees for Tripura virtually during his visit to Itanagar in Arunachal Pradesh.
 The important projects, include the construction of the Agartala Western Bypass.
 PM Modi also launched projects, including tap connections for 1.46 lakh rural households and laid
stones for the Agartala Western Bypass and multiple road
projects.
 The Prime Minister also inaugurated the Land Port at the Integrated Check Post at Sabroom in
South Tripura constructed at a cost of about Rs 230 crore.
PM inaugurates, dedicates to the nation, and lays the foundation stone for multiple development
projects worth more than Rs 17,500 crores in Jorhat, Assam
.
 The Prime Minister, Shri Narendra Modi inaugurated, dedicated to the nation and laid the
foundation stone for multiple development projects worth more than Rs 17,500 crores in Jorhat,
Assam.
 The development projects encompass the sectors of health, oil and gas, rail, and housing.
 The Prime Minister laid the foundation stone for projects under the Prime Minister’s Development
Initiative for North Eastern Region (PM-DevINE) scheme including the Medical College & Hospital
at Sivasagar and a Hemato-Lymphoid center in Guwahati.
Government sanctions over Rs 1,532 crore for upgradation of National Highway projects in Gujarat
 Union Minister for Road Transport & Highways, Shri Nitin Gadkari approved has been given for
widening of the 12.4 km long Dhrol to Amaran section of National Highway-151-A in Morbi district
of Gujarat to 4-lane for Rs 625.58 crore.
 The approval has been given for the widening of the 12.4-kilometer Dhrol to the Amaran section of
the National Highway in the Morbi district of Gujarat.
 The government has sanctioned over 936 crore rupees for the construction of ten kilometers long
four-lane elevated corridor on the Kalimandir-Dimna Chowk-Baliguma section of the National
Highway in Jamshedpur, Jharkhand.
 The project will enhance safety and reduce congestion in the city of Jamshedpur.
Shri Nitin Gadkari sanctions Rs. 2093.92 crore for widening and strengthening various National
Highway projects in Jammu & Kashmir
 Union Minister for Road Transport & Highways, Shri Nitin Gadkari informed, in Jammu & Kashmir,
an allocation of Rs. 1404.94 crore has been approved for the Widening and Strengthening project
of the Rafiabad – Kupwara – Chowkibal – Tangdhar – Chamkot section of National Highway-701
 It aims to transform the 51 Km route into 2-lanes with Paved, Shoulder.
 An allocation of Rs. 126.58 crore has been approved for the development, Operation, and
Maintenance of a Ropeway from SDA Parking (Near Zabarwan Park) to Shankaracharya Temple.
Shri Nitin Gadkari approves Rs. 2281.10 crore for widening and strengthening of National Highways in
Tamil Nadu
 Union Minister for Road Transport & Highways, Shri Nitin Gadkari Informed, in Tamil Nadu, a
substantial allocation of Rs. 1376.10 crore has been approved for the widening of the existing 2-
Lane Paved Shoulder from Tiruvallur to the Tamil Nadu/Andhra Pradesh border section of National
Highway-716.
.
 This transformation to a 4-lane configuration with paved shoulders in Thiruvallur district spans
43.95 Km under Package-1.
Prime Minister Narendra Modi launches 112 National Highway projects for various states starting in
Gurugram, Haryana.
 Prime Minister Narendra Modi inaugurated and laid the foundation stone of 112 National Highway
projects spread across the country worth about one lakh crore in Gurugram, Haryana.
 The projects inaugurated include the Haryana section of the landmark Dwarka Expressway, three
packages of Lucknow Ring Road, the Anandapuram - Pendurthi - Anakapalli section of NH16 in
Andhra Pradesh, and the Kiratpur to Nerchowk section of NH-21 in Himachal Pradesh.
India is now the second-largest manufacturer of mobile phones worldwide.
 India now stands as the world’s second-largest producer of mobile phones at the end of the
decade 2014-2024.
 India Cellular and Electronics Association informed that the sector has transitioned from being 78
percent import-dependent in 2014 to 97 per cent self-sufficiency.
 Only three percent of the total mobile phones sold in India are now imported.
 India’s mobile phone production is nearing 20 lakh crore rupees in a decade of unprecedented
growth.
 India produced 2.45 billion units of mobile phones during these ten years, against a goal of 2.5
billion units.
Union Minister Piyush Goyal Extends RoDTEP Scheme to Additional Export Sectors
 Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and
Textiles, Shri Piyush Goyal announced the extension of the Remission of Duties and Taxes on
Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi.
 The Government of India has announced the extension of the RoDTEP Scheme support to
additional export sectors i.e. Advance Authorisation (AA) holders, Export Oriented Units (EOU) and
Special Economic Zones (SEZ) export units.
 This decision comes in recognition of the significant contribution these sectors make to India’s
Exports, constituting approximately 25% of our exports.
In Ahmedabad, Gujarat, the Prime Minister sets up the foundations for several developmental projects
valued at over Rs. 1,06,000 crores, dedicating them to the country.
.
 The Prime Minister, Shri Narendra Modi dedicated to the nation and laid the foundation stone of
various developmental projects worth over Rs 1,06,000 crores at Dedicated Freight Corridor’s
Operation Control Centre in Ahmedabad,
Gujarat.
 The development projects encompass multiple sectors including railway infrastructure, connectivity
and petrochemicals.
 He also flagged off 10 new Vande Bharat trains.
Government abolishes wireless operating licence, launches regulatory sandbox to ease trial permit
 The government has abolished wireless operating licence and launched a regulatory sandbox for
quick and online approval of product testing, Union Communications and IT Minister Ashwini
Vaishnaw
 15 organisations including industry bodies ICEA, MAIT, and Nasscom should come together to
make it Asia’s biggest technology event to be held from October 15-19.
Centre notifies CAA rules, sets up application portal

 The government announced the long-pending implementation of the Citizenship Amendment Act
(CAA), approved by Parliament in 2019, notifying the rules under which the legislation will operate.
 The law aims to grant citizenship to migrants belonging to the Hindu, Sikh, Buddhist, Jain, Parsi
and Christian communities from Afghanistan, Bangladesh and Pakistan who had come to India on
or before December 31, 2014.
Prime Minister Modi has launched the PM-SURAJ National Portal.

 Prime Minister Narendra Modi launched the ‘Pradhan Mantri Samajik Utthan and Rozgar Adharit
Jankalyan’ (PM-SURAJ) national portal and approved credit assistance for one lakh entrepreneurs
from disadvantaged communities.
 The Prime Minister also distributed Ayushman health cards and PPE kits to sewer and septic tank
workers under the National Action for Mechanised Sanitation Ecosystem (NAMASTE).
Union Minister Piyush Goyal has announced the extension of the RoDTEP scheme to include additional
export sectors in New Delhi.
● Union Minister of Commerce and Industry Piyush Goyal announced the extension of the Remission
.
of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in
New Delhi.
● He also announced the extension of the RoDTEP Scheme support to additional export sectors like
Advance Authorisation (AA) holders, Export Oriented Units (EOU) and Special Economic Zones
(SEZ) export units.
● This decision comes in recognition of the significant contribution these sectors make to India’s
Exports, constituting approximately 25 percent of exports.
Shri Nitin Gadkari has sanctioned Rs. 972.80 crores for road widening and Rs. 384.56 crore under
CRIF in Rajasthan.
● Union Minister for Road Transport & Highways Nitin Gadkari announced that an outlay of Rs 972.80
crore has been sanctioned for widening and strengthening work of 31 major district roads and State
Highways in Rajasthan.
● Another Rs 384.56 crore has also been sanctioned for the construction work of seven rail
overbridges, underbridges, and flyovers in various districts under Setu Bandhan Yojana.
● Under the Central Road & Infrastructure Fund (CRIF) Scheme, the Ministry allocates funds to State
Governments and Union Territories (UTs) for the development and maintenance of State and
Roads.
The Indian government has approved an Electric Vehicle (EV) policy to promote the country as a
manufacturing destination for electric vehicles.
● The Union Government has approved a scheme to promote India as a manufacturing destination so
that e-vehicles (EV) with the latest technology can be manufactured in the country.
● The policy is designed to attract investments in the e-vehicle space by reputed global EV
manufacturers.
The policy entails the following: -
● Minimum Investment required: Rs 4150 Cr (∼USD 500 Mn)
● No limit on maximum Investment
● Timeline for manufacturing: 3 years for setting up manufacturing facilities in India, and to start
commercial production of e-vehicles, and reach 50% domestic value addition (DVA) within 5
years at the maximum.
● Domestic value addition (DVA) during manufacturing: A localization level of 25% by the 3rd year
.
and 50% by the 5th year will have to be achieved.

● The customs duty of 15% (as applicable to CKD units) would be applicable on vehicles of
minimum CIF value of USD 35,000 and above for a total period of 5 years subject to the
manufacturer setting up manufacturing facilities in India within 3 years.
Nitin Gadkari approves Rs. 421.15 crore for 4-lane Gauripur Bypass on NH-17 (New)/NH-31(Old) in
Dhubri district, Assam.
● Union Minister for Road Transport and Highways Shri Nitin Gadkar, in Assam, an allocation of Rs
421.15 Crore has been approved for the construction of a 4-lane Gauripur Bypass along NH-17
(New)/NH-31(Old), spanning from Dumardoha Pt-II to the Baladmara road in Dhubri district.
● This covering a total length of 9.61 kilometres, the project aims to alleviate congestion in Gauripur
town and mitigate risks associated with sharp bends on the current highway, thereby enhancing
safety.
Nitin Gadkari approves Rs 576.22 Cr for 4-laning of NH-373 segment in Karnataka's Hassan district.
● Union Minister for Road Transport and Highways Shri Nitin Gadkari in a post said in Karnataka, an
allocation of ₹576.22 Crore has been sanctioned for the 4-laning of the Yedegowdanahalli to
Arjunahalli segment of NH-373 in Hassan district, spanning 22.3 kilometres.
● This corridor serves as a vital link to renowned tourist destinations such as Chikamagaluru, Belur,
Halebeedu, and Shravanabelagola.
Prime Minister of India lays foundation stone for 2,880 MW Dibang Multipurpose Hydroelectric Project
of Arunachal Pradesh
● The Prime Minister of India Shri Narendra Modi laid the foundation stone of the 2,880 MW Dibang
Multipurpose Hydropower Project of NHPC Limited in Lower Dibang Valley district of Arunachal
Pradesh, at a Viksit Bharat Viksit Northeast Program in Itanagar, Arunachal Pradesh.
● To be built at a cost of more than Rs. 31,875 crores, the Dibang project will be the highest dam
structure in the country.
● The Dam is planned to be constructed with Roller Compacted Concrete (RCC) technique and it will
be the highest RCC Dam in the World.
● The Dibang Dam aims to place a peak of more than 5 lakh cubic metres of concrete in one month,
which will be the first in the world.
● The Dibang Project will provide 12% free power and an additional 1% free power for the Local Area
.
Development Fund for the development of the state of Arunachal Pradesh.

Union Health Ministry Launches Action Plan to Reduce Snakebite Deaths By Half By 2030
● Apurva Chandra, Union Health Secretary, launched a National Action Plan for Prevention and
Control of Snakebite Envenoming (NAP-SE) in India in Delhi.
● The action plan seeks to reduce snakebite deaths by half by 2030.
● NAPSE provides a broad framework for states to develop their own action plan for the management,
prevention and control of snakebites through the 'One Health' approach.
● A Snakebite Helpline No. 15400, a vital resource that provides immediate assistance, guidance, and
support to individuals and communities affected by snake bite incidents, will be piloted in five states
(Puducherry, Madhya Pradesh, Assam, Andhra Pradesh and Delhi).
● This initiative aims to ensure prompt access to medical care and information to the general public.
India will host ITU’s prestigious World Telecom Standardization Assembly Delhi 2024 (WTSA 2024)
from 15th - 24th October 2024.
● India will be hosting the World Telecommunication Standardization Assembly (WTSA 2024) from 15-
24 October 2024, preceded by the Global Standards Symposium (GSS 2024) on 14 October 2024
● The eighth edition of the IMC, co-hosted by the Department of Telecommunications (DoT) and
COAI, will be held from October 15 to 24.
● It will be held concurrently with the World Telecommunication Standardisation Assembly (WTSA
2024), preceded by the Global Standards Symposium (GSS 2024) on October 14, 2024, in New
Delhi.
● The International Telecommunication Union (ITU), a specialised United Nations agency for
information and communication technologies of which India is a part, conducts the WTSA every four
years to plan its standardization programme.
● Ashwini Vaishnaw also released new guidelines for Spectrum Regulatory Sandbox and Wireless
Test Zones.
India commits to increase support to Bhutan in its 13th Five-Year Plan

● India has agreed to increase its support to Bhutan in its upcoming 13th Five Year Plan and will also
extend an additional standby credit facility over and above the two existing ones, Foreign Secretary
Vinay Kwatra announced.
● In a bilateral meeting between visiting Bhutan King Jigme Khesar Namgyel Wangchuk and Prime
Minister Narendra Modi, the two also discussed shaping sustainable arrangements for the export of
.
agricultural commodities from Bhutan and for a short supply of critical commodities, such as
petroleum, fertilisers and coal, to the country.
About Bhutan
● Capital: Thimphu
● King: Jigme Khesar Namgyel Wangchuck
● Currencies: Bhutanese Ngultrum, Indian Rupee
Lok Sabha elections to begin from April 19; counting on June 4
● India's general elections will be held in seven phases from April 19 to June 1 with votes for the 543
Lok Sabha seats to be counted on June 4, Chief Election Commissioner Rajiv Kumar announced in
New Delhi.
● The first phase of the world’s biggest electoral exercise will see the maximum number of
constituencies go to the polls — 102 in 21 states including Tamil Nadu, Maharashtra, Uttar Pradesh,
Uttarakhand, Rajasthan, Madhya Pradesh, Assam, Arunachal Pradesh, Manipur and Meghalaya as
well as the Union territory of Jammu & Kashmir.
● The next phases will be on April 26 (89 Lok Sabha seats), May 7 (94) and May 13 (96). The
remaining elections will be on May 20 (49), May 25 (57) and June 1 (57).
IPEF: India to join US-led co-operative work programme on carbon market
● India has decided to join at least one of the four cooperative work programmes launched last week
under the ‘clean energy pillar’ of the US-led Indo-Pacific Economic Framework (IPEF) – the one on
facilitating and promoting carbon market activities.
● New Delhi is also considering two of the other co-operative work programme initiatives, one on clean
electricity and the other on the use of sustainable aviation fuel but will take a call on whether to join
or not after thorough analysis.
● The IPEF, an initiative led by US President Joe Biden, was launched in May 2022, bringing together
14 regional partners – Australia, Brunei, Fiji, India, Indonesia, Japan, the Republic of Korea,
Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam.
NHAI raises more than ₹16,000 crore in its largest InvIT monetisation round
● The National Highways Infra Trust (NHIT), the infrastructure investment trust of the National
Highways Authority of India (NHAI), has raised more than ₹16,000 crore for 889 kilometres of
national highway through its ‘InvIT round 3’.
● This is the largest-ever monetisation by NHAI and one of the largest transactions in the history of
Indian roads.
.
● The letter of acceptance (LOA) was issued in February 2024.

● In the third round of monetisation, NHIT has raised unit capital of around ₹7,272 crore from marquee
domestic and international investors, and debt of around ₹9,000 crore from Indian lenders to fund
the acquisition of national highway stretches at a base concession fee of around ₹15,625 crore and
additional concessional fees of ₹75 crore.
Electronics And IT Secretary S. Krishnan Launches BhashaNet Portal In New Delhi

● Electronics and IT Secretary S. Krishnan launched the BhashaNet portal based on the concept of
Universal Acceptance (UA) in New Delhi.
● The launch of the BhashaNet portal represents a crucial step towards fostering digital inclusivity in
India and Universal Acceptance is a gateway to it.
● BhashaNet portal is such a step, it aims to make .in (dot in) a universally accepted domain.
● The BhashaNetportal was developed by the Centre for Development of Advanced Computing with
the support of the National Internet Exchange of India.
Centre decides to celebrate September 17 every year as 'Hyderabad Liberation Day'
● The Central Government has decided to commemorate the 75th anniversary of the Hyderabad State
Liberation Day on September 17 in a big manner this year.
● The Union Ministry of Culture will host the inaugural event, which will be presided over by the Union
Home Minister, in Hyderabad.
● Meanwhile, the Telangana Government recently decided to observe September 17 as Telangana
National Unity Day.
● While Maharashtra and Karnataka currently observe this day as Marathwada Liberation Day and
Hyderabad-Karnataka Liberation Day, respectively.
New TRAI regulations for SIM swap to curb fraudulent activities
● The Telecom Regulatory Authority of India (TRAI) has amended new regulations related to SIM
porting, also known as Mobile Number Portability (MNP), to reduce and prevent fraudulent SIM swap
activities.
● Under the new guideline, which will come into effect from July 1, users have to wait for seven days
to be eligible for porting from one network to another post-SIM swap or replacement of the mobile
number.
● This applies to users who have lost their original SIM card and applied for a replacement, where a
user has to wait for seven days before they become eligible for networking porting.
.
● However, if a user is upgrading the SIM card (from 3G to 4G/5G), there is no restriction when it
comes to porting, as the same is authorised by the user using a one-time password (OTP).
● MNP facility was launched in Haryana telecom circle in November 2010 on pilot basis. In January
2011, it was extended to the entire country.
Election Commission Launches Saksham App To Facilitate Easier Voting For Persons With Disabilities
And To Avail Facilities At Polling Stations
● The Election Commission has launched the Saksham App to facilitate easier voting for Persons with
Disabilities and to avail facilities at Polling Stations.
● The Election Commission has always focused on Accessible Voting every time as it has the motto of
no voter is left behind.
● The Election Commission has announced that voters above 85 years of age and Persons with
Disabilities with 40 percent benchmark disability can vote from home.
● Volunteers and wheelchairs will be available at every polling station.
● The Commission has launched the Saksham App to facilitate easier voting for Persons with
Disabilities and to avail facilities at Polling Stations.
Indira Gandhi National Centre For The Arts Releases Two Literary Works Aimed At Deepening The
Understanding Of India-Japan Cultural Connections
● Indira Gandhi National Centre for the Arts, IGNCA released two literary works aimed at deepening
the understanding of India-Japan cultural connections.
● The books namely Siddham Calligraphy of Sanskrit Hieronyms and Sanskrit Manuscripts from
Japan, Vol I were released by Member Secretary of IGNCA Sachchidanand Joshi, Advisor (Japan)
in Ministry of External Affairs Ashok Chawla and First Secretary at Japanese Embassy Takashi
Kobayashi among others in New Delhi.
DGCA Imposes Rs 80 Lakh Penalty On Air India For Violating FDTL Rules
● The Directorate General of Civil Aviation has imposed a financial penalty of eighty lakh rupees on Air
India Limited for violation of regulations about Flight Duty Time Limitations, FDTL and Fatigue
Management System, FMS of the flight crew.
● DGCA conducted a spot audit of Air India Limited in January this year to verify the regulatory
compliance by the operator in respect for FDTL and FMS regulations.
.
● During the audit, the evidence was collected and fleet-wise random reports were analyzed.
● The analysis of reports and evidence revealed that Air India Limited operated flights with both flight
crew aged above 60 years flying together in a few instances, which is a violation of Aircraft Rules.
Prime Minister has inaugurated Start-up Mahakumbh at Bharat Mandapam, New Delhi
● The Prime Minister, Shri Narendra Modi inaugurated the Start-up Mahakumbh at Bharat Mandapam,
New Delhi.
● The Prime Minister highlighted the importance of Start-up Mahakumbh and emphasized the
country’s roadmap of working to become a Viksit Bharat by 2047.
● India is the third largest startup ecosystem with 1.25 lakh startups involving 12 lakh youth who are
directly linked with them.
● This startup event aims at connecting startups with a spectrum of inventors including venture
capitalists, investors and potential corporate partners.
NIXI and MeitY to unveil BhashaNet portal at Universal Acceptance Day for Digital Inclusion across the
nation
● The Ministry of Electronics and Information Technology (MeitY) and National Internet Exchange of
India (NIXI) have announced the launch of the BhashaNet portal at the Universal Acceptance Day
event held on March 21, at the Dr. Ambedkar International Centre in New Delhi.
● The event was held with the active support of the Internet Corporation for Assigned Names and
Numbers (ICANN).
● The theme of the event was, BhashaNet: Impetus Towards Universal Acceptance.
About NIXI:
● Set up on 19th June 2003, the National Internet Exchange of India is a not-for-profit (Section 8)
company under the aegis of MeitY and is tasked to increase internet penetration and adoption in
India by facilitating the various infrastructure aspects to enable the internet ecosystem to be
managed and used by the masses.
India to join US-led co-operative work programme on carbon market

● India has decided to join at least one of the four cooperative work programmes launched last week
under the ‘clean energy pillar’ of the US-led Indo-Pacific Economic Framework (IPEF) – the one on
facilitating and promoting carbon market activities.
.
● India will join the cooperative working group on carbon markets through the Ministry of Power and
the Bureau of Energy Efficiency will be the nodal body.
● The IPEF, an initiative led by US President Joe Biden, was launched in May 2022, bringing together
14 regional partners – Australia, Brunei, Fiji, India, Indonesia, Japan, the Republic of Korea,
Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam.
About IPEF
● The IPEF was launched in 2022 with a dozen initial partners who together represent 40% of the
world GDP.
● The IPEF is NOT a Free Trade Agreement (FTA) but allows members to negotiate the parts they
want to.
● The IPEF aims to have a common set of rules and standards around four pillars: connectivity and
digital trade; resilient supply chains; clean energy; and corruption-free fair trade. Tariff cuts are not
on the agenda at all, but India has still decided to exclude itself from the trade pillar, while joining the
other three.
Government notifies bonus for Postal Life Insurance, Rural Postal Life Insurance schemes for FY25
● The Centre has approved a simple reversionary bonus for the Postal Life Insurance Scheme and
Rural Postal Life Insurance Scheme for fiscal year 2024-25.
● There is no change in the rate.
● According to a notification, under the Postal Life Insurance Scheme, the rate of bonus will be ₹76
per thousand of sum assured for whole life assurance (WLA).
● Similarly, for endowment assurance (EA) (including joint life and children policies), it will be ₹52 per
thousand of sum assured.
● Anticipated endowment assurance (AEA) will fetch ₹48 per thousand of sum assured.
● Postal Life Insurance (PLI), the oldest in the country, was introduced on February 01, 1884 as a
welfare scheme for the benefit of postal employees and later extended to the employees of
Telegraph Department in 1888.
About RPLI
● Rural Postal Life Insurance (RPLI) was introduced on March 24, 1995 for rural people on
recommendations of the Official Committee for Reforms in the Insurance Sector headed by ex-RBI
Governor RN Malhotra.
● The prime objective of the scheme is to provide insurance coverage to the rural public in general and
.
to benefit weaker sections and women workers of rural areas in particular and also to spread
insurance awareness among the rural population.
GRID-INDIA granted Miniratna Category-I status by power ministry
● Grid Controller of India Limited (GRID-INDIA) has been designated as a Miniratna Category-I central
public sector enterprise by the Ministry of Power, recognizing its integral role in the power sector.
● Comprising five Regional Load Despatch Centres (RLDCs) and the National Load Despatch Centre
(NLDC), GRID-INDIA shoulders the immense responsibility of managing the All India synchronous
grid, one of the world's largest and most intricate power systems.
● Miniratna Category-I status: - The CPSEs which have made a profit in the last three years
continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a
positive net worth are eligible to be considered for grant of Miniratna-I status.
● Miniratna Category-II status: - The CPSEs which have made a profit for the last three years
continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II
status.
About GRID
● Grid Controller of India Limited (GRID-INDIA)was founded in March 2009 and is headquartered in
New Delhi.
● Mr. S.R. Narasimhan is the Chairman and Managing Director of the GRID-INDIA.
Centre likely to notify MGNREGS wage revision, calls it 'routine' exercise
● The Rural Development Ministry may notify revision in wage rates under the Mahatma Gandhi
National Rural Employment Guarantee Scheme and it has received a clearance from the Election
Commission as the poll code is in force.
● Though ministry officials refused to comment on the issue because of the model code of conduct
(MCC) being in place after the announcement of the Lok Sabha poll schedule, they said it is a
"routine" matter and that ministries approach the EC for clearances when the model code is in place.
● According to a source, the changes in rates are to be notified for the upcoming financial year starting
April 1.
● The Centre determines wages under the flagship scheme under sub-section (1) of section 6 of the
Mahatma Gandhi National Rural Employment Guarantee Act, 2005, which says the Central
Government may, by notification, specify the wage rate for its beneficiaries.
Government notifies PIB's Fact Check Unit under IT Rules 2021
.
● The government has notified the ‘Fact Check Unit’ (FCU) under the Press Information Bureau (PIB)
of the Ministry of Information and Broadcasting, as the fact check unit of the Centre.
● The Ministry of Electronics and Information Technology (MeitY) notified the PIB FCU under the
provisions of the sub-clause (v) of sub-rule (1) of rule 3 of the Information Technology (Intermediary
Guidelines and Digital Media Ethics Code) Rules, 2021.
● The Fact Check Unit under PIB was established in November 2019 with the stated objective of
acting as a deterrent to creators and disseminators of fake news and misinformation.
DGCA defers June 1 deadline for new rules on pilots’ rest, duty times
● India's aviation regulator has postponed the deadline for airlines to implement new rules on rest and
duty times for pilots without giving any reason or new target date.
● Announced in January, the rules increased flight crews’ weekly rest periods to 48 hours from 36 and
cut pilots’ night flight duty times to a maximum of 10 hours from 13.
● The Federation of Indian Airlines warned of the cancellation risk as the watchdog’s deadline left too
little time to hire and train the 25% more pilots required to satisfy the new rules.
● Recently Tata Group-owned Air India was fined 8 million rupees ($96,000) by the regulator for
breaching limits on flight duty times and fatigue management.
India's GAIL to commission its first green hydrogen project in April 2024
● India's state-run natural gas company, GAIL (India) Ltd, is preparing to commission the country's first
green hydrogen project.
● As reported by Reuters and confirmed by multiple sources within the company, this pioneering
initiative is slated to commence operations at GAIL's Vijaipur complex in Madhya Pradesh by April.
● The project comprises a 10-megawatt proton exchange membrane electrolyser imported from
Canada for the production of green hydrogen.
● The report added that once operational, the unit is expected to produce approximately 4.3 metric
tons of hydrogen per day, boasting a purity level of 99.999% by volume.
Centre to borrow ₹7.5 trillion in April-September FY25

● The Centre will borrow ₹7.5 trillion in the first half of the upcoming financial year.
● The borrowing for FY25 would be done by issuing dated government securities along with ₹12,000
crore of sovereign green bonds.
.
● In the interim budget for FY25, the government pegged its borrowing from the market at ₹14.13
trillion.
● Out of gross market borrowing of ₹14.13 lakh crore (trillion) projected for FY 2024-25 in the union
budget, ₹7.50 lakh crore (53.08%) is planned to be borrowed in the first half through dated
securities, including ₹12,000 crore through issuance of sovereign green bonds
● Based on market feedback and in line with global market practices, the government has introduced a
new dated security with a 15-year tenor.
● Through the 15-year security, the Centre will borrow ₹1.04 trillion in the first half of the next financial
year.
● The weekly borrowing through issuance of treasury bills in the first quarter of FY25 is expected to be
₹27,000 crore for the first seven auctions and ₹22,000 crore for the subsequent six.
● The Centre will issue 91-day treasury bills worth ₹1.44 trillion, 182-day T-bills worth ₹79,000 crore,
and 364-day T-bills worth ₹98,000 crore.
No tweaks to new online gaming taxation regime till SC decision
● The federal indirect tax body is unlikely to make any changes to the 28% goods and services tax
(GST) regime on online money gaming until the Supreme Court gives its final order on a bunch of
tax disputes for the period before its introduction last October.
● As per the decisions of the 51st GST Council meeting last August, ministers were to review the
implementation of the tax regime for the online gaming industry after six months of its
implementation.
Government relaxes export norms for dual-use telecom equipment, information security software
● The government notified a policy for general authorisation for the export of certain telecom and
information security-related items under a policy for dual-use products.
● In a notification, the Directorate General of Foreign Trade (DGFT) announced to grant one-time bulk
licences for these items under the Special chemicals, organisms, materials, equipment and
technologies (SCOMET) category.
● Last year, the SCOMET policy of drones for civilian use was simplified and liberalised for exports.
● The applicant exporter will have to submit an application for getting a one-time license through the
online SCOMET portal and attach the information in the prescribed format.
● The DGFT also notified a detailed procedure for this authorisation as per which export of
indigenous/imported SCOMET items will be allowed based on a one-time General Authorization
.
(GAET).
The government plans to borrow Rs 7.5 lakh cr from the market in H1FY25 including Rs 12,000 crore
via Sovereign Green Bonds
● The Finance Ministry plans to borrow Rs 7.50 lakh crore, 53 per cent of its overall FY25 target, in the
first half.
● The gross market borrowing of Rs 7.50 lakh crore shall be completed through 26 weekly auctions.
● In the ongoing financial year, the government plans to borrow a total of Rs 14.13 lakh crore.
● Further, the Centre has also introduced a new dated security of 15-year tenor.
● Of the total amount, Sovereign Green Bonds account for Rs 12,000 crore, which will be issued in
two tranches of Rs 6,000 crore each for a period of 10 years.
India achieves 16% decline in new TB cases, 18% reduction in mortality since 2015
● India’s efforts to ensure early tuberculosis detection and treatment initiation, along with a host of
community engagement efforts has resulted in a decline of 16% in TB incidence (new cases
emerging each year) and a 18% reduction in mortality due to TB, since 2015.
● The incidence rate in India had fallen from 237 per lakh population in 2015 to 199 per lakh
population in 2022, while the mortality rate had declined from 28 per lakh population in 2015 to 23
per lakh population in 2022, according to the India TB report 2024 released by the Union Health
Ministry on March 27, stating that the country has set 2025 as the target for eliminating the disease.
● Additionally, of all the TB cases notified in 2023, nearly 32% of notifications came from the private
healthcare sector which is an increase of 17% from the previous year.
● According to the data released in the report, while the overall notification of TB cases has improved
by over 50% in the last nine years on an annual basis, Uttar Pradesh saw the highest jump in
notifications (by 21% compared to the previous year) followed by Bihar (15%).
India releases second tranche of ₹500 crore to Bhutan

● India has released the second tranche of ₹500 crore to Bhutan for the development of infrastructure
related to the GyalSung Project.
● This comes less than a week after Prime Minister Narendra Modi concluded a fruitful two-day state
visit to Bhutan during which he assured Thimphu of New Delhi's firm support in its quest for
development and agreed to provide ₹10,000 crore to the Himalayan nation over the next five years.
.
Army Commanders’ Conference starts in hybrid mode for the first time
● Army Commanders' Conference, the first for the year 2024 will be organised in hybrid mode with
the conference in virtual mode scheduled on 28th March 2024 and thereafter physical mode in
New Delhi on 01st and 02nd April 2024.
● Shri Rajnath Singh, Hon’ble Raksha Mantri will also address and interact with senior military
leadership during the conference.
● The conference serves as a pivotal forum for apex leadership of the Indian Army to brainstorm
conceptual issues, review and assess the overall security situation.
● Starting on 28th March 2024, the conference will be chaired by the Chief of the Army Staff
(COAS), General Manoj Pande at New Delhi with Army Commanders' participating in virtual
mode from their respective Command Headquarters.
● The deliberation will be on critical agendas impacting the field army and veterans’ welfare. The
conference will also feature talks by distinguished Subject Matter Experts on the evolving
geopolitical landscape and ramifications for national security.
INTERNATIONAL NEWS
FATF Delists United Arab Emirates, Uganda, Barbados, and Gibraltar from Watchlist
 Financial Action Task Force’s (FATF) in its plenary meeting in February, 2024 removed the United
Arab Emirates (UAE) successfully from the watchdog’s grey list.
 Barbados, Gibraltar and Uganda will also be removed from the FATF's grey list.
 Grey List Additions: Kenya and Namibia have been added to the Financial Action Task Force
(FATF) greylist.
 The two African states are now under increased monitoring by the organisation for their inadequate
measures against money laundering and terrorism financing.
Mauritius Cabinet Approves Amendment to India-Mauritius Double Taxation Avoidance Agreement to

Comply with Base Erosion and Profit Shifting Minimum Standards
 The Mauritius Government has decided to amend the Double Taxation Avoidance Agreement
(DTAA) with India in order to go with Organisation for Economic Co-operation and Development
(OECD)’s proposal on Base Erosion and Profit Shifting.
.
 Objective of Amendment : To prevent tax avoidance or minimization through exploitative tactics,

thus creating more stringent norms for multinationals investing in India.
About Mauritius :
 President : Prithvirajsing Roopun
 Prime Minister : Pravind Jugnauth
 Capital : Port Louis
 Currency : Mauritian rupee
Sweden Becomes the 32nd Member State to Join NATO Alliance
 Sweden has officially become the 32nd member of NATO after it completed the accession process
in Washington.
 The handover of documents took place at a ceremony two years after Sweden applied to join the
military alliance following the full-scale war between Russia and Ukraine in
February 2022.
 Completion of Accession: The handover of documents marking Sweden's membership took place
at a formal ceremony, signifying the completion of the accession process.
About NATO :
 North Atlantic Treaty Organization (NATO) is a military alliance established by the North Atlantic
Treaty (also called the Washington Treaty) of April, 1949, by the United States, Canada, and
several Western European nations to provide collective security against the Soviet Union.
 Headquarters : Boulevard Leopold III in Brussels, Belgium.
 Secretary General : Jens Stoltenberg
 Membership : 32 states
Sweden officially joins NATO, ending decades of neutrality

 Sweden formally joined NATO as the 32nd member of the transatlantic military alliance, ending
decades of post-World War II neutrality and centuries of broader non-alignment with major powers
as security concerns in Europe have spiked following Russia’s 2022 invasion of Ukraine.
 President Joe Biden congratulated Sweden on its admission and stated it was a sign that Russian
President Vladimir Putin's intervention in Ukraine had united, rather than divided, the alliance.
About NATO:
.
 The North Atlantic Treaty Organization (NATO), also called the North Atlantic Alliance, is
an intergovernmental military alliance of 32 member states – 30 European and two North
American.
 Formation: 4 April 1949
 Headquarters: Brussels, Belgium
 Membership: 32 states
 Secretary General: Jens Stoltenberg
 Chair of the NATO Military Committee: Rob Bauer
About Sweden:
 Capital: Stockholm
 Official language: Swedish
 Continent: Europe
 Prime Minister: Ulf Hjalmar Kristersson
Panama becomes 97th member to ratify the International Solar Alliance
 Panama has officially ratified the International Solar Alliance (ISA), marking its entry as the 97th
member nation. The information was divulged by Randhir Jaiswal, spokesperson of the Ministry of
External Affairs.
 Panama's commitment to sustainable energy was underscored as Ambassador Yasiel
Burillo presented the Instrument of Ratification to Joint Secretary (Economic Diplomacy)
Abhishekifs during a meeting in New Delhi.
 This formal act solidifies Panama's pledge to collaborate within the framework of the ISA, joining
other nations in the pursuit of harnessing solar energy for a greener future.
About ISA:
 ISA was conceived as a joint effort by India and France.
 Currently, 116 countries are signatories to the ISA Framework Agreement.
 The International Solar Alliance (ISA) is an action-oriented, member-driven, collaborative platform
for increased deployment of solar energy technologies as a means for bringing energy access,
ensuring energy security, and driving energy transition in its member countries
 Notably, the sixth assembly of the International Solar Alliance was hosted at 'Bharat Mandapam,'
Pragati Maidan in the national capital on October 31.
 ISA Director General Ajay Mathur stated that the investment in solar is expected to be 380 billion
dollars this year, as last year witnessed an investment of 310 billion.
.
 He also stated that the ISA is supporting the growth of 9.5 GW of solar energy in projects across
the world.
About Panama:
 Capital: Panama City
 Currencies: Panamanian Balboa, United States Dollar
 Official language: Spanish
 President: Laurentino Cortizo
France inscribes the right to abortion in its constitution as the world marks International Women's Day
● France inscribed the guaranteed right to abortion in its constitution, a powerful message of
support for women’s rights on International Women’s Day (March 08, 2024).
● Justice Minister Eric Dupond-Moretti used a 19th-century printing press to seal the amendment in
France’s constitution at a special public ceremony. Applause filled the Place Vendome.
● In January 2024, France’s Parliament passed an amendment to provide constitutional validity to
the right to abortion.
● Abortion, although legal in France since 1975, has now been a “guaranteed freedom” for women.
About France :
● President : Emmanuel Macron
● Prime Minister : Gabriel Attal
● Capital : Paris
● Currency : CFP franc
Pokhara Set to be Designated as Nepal's Tourism Capital

● The government of Nepal officially declared Pokhara, located in the Gandaki province, as the
tourism capital of the country.
● The declaration, made during a ceremony at Barahighat near the picturesque Phewa Lake,
marks a significant step for the city and the country's tourism industry.
● Criteria for Designation:Pokhara was chosen as the tourism capital based on its fulfillment of
criteria across 20 different indicators.
● Memorandum Submission by Pokhara Tourism Council (PTC):The PTC submitted a
memorandum to the Prime Minister during the ceremony, outlining key areas for improvement.
● One major request was the immediate launch of international flights from the Pokhara Regional
.
International Airport.
About Pokhara :
● The Nepali word "Pokhari " means "pond".
● Pokhara is a metropolitan city in central Nepal, which serves as the capital of Gandaki Province.
● It is the second most populous city of Nepal after Kathmandu, with 599,504 inhabitants living in
120,594 households in 2021.
● It is the country's largest metropolitan city in terms of area.
About Nepal :
● President : Ram Chandra Poudel
● Prime Minister : Pushpa Kamal Dahal
● Capital : Kathmandu
● Currency : Nepalese rupee
Australia Commits $3 Billion to British Industry for Timely Construction of Nuclear-Powered Submarines
● Australia commits 4.6 billion Australian dollars (USD 3 billion) to British industry to aid in the
construction of nuclear-powered submarines, ensuring the timely delivery of its new fleet.
● The announcement follows the signing of a defence and security pact between Australia and the
UK, aimed at addressing challenges such as China's increased activity in the South China Sea
and South Pacific.
● Boosting Capacity in UK: The 10-year deal will enhance capacity at the Rolls-Royce factory in
Derby, UK, to manufacture the nuclear reactors required for the submarines to be built by BAE
Systems in Adelaide, Australia.
● Trilateral Security Partnership (AUKUS): Under the AUKUS agreement, Australia's ASC and UK-
based BAE Systems will collaborate to construct the SSN-AUKUS submarines for the Royal
Australian Navy.
About AUKUS :
● AUKUS is a trilateral security partnership between the United Kingdom (UK), the United States of
America (USA) and Australia agreed in 2021.
● This partnership is designed to create a stronger, more resilient trilateral submarine industrial
base, supporting submarine production and maintenance in all three countries.
About Australia :
● Prime Minister - Anthony Albanese
.
● Capital - Canberra
● Currency : Australian Dollar
New Delhi Hosts 4th Shanghai Cooperation Organisation Startup Forum

● The 4th edition of the Shanghai Cooperation Organisation (SCO) Startup Forum was organized
in New Delhi.
● The initiative focused on broadening startup interactions among the SCO Member States,
fostering an environment conducive to innovation, promoting job creation, and inspiring young
talent to develop innovative solutions.
● The Shanghai Cooperation Organisation Startup Forum is a platform for the stakeholders from
the startup ecosystems from all SCO Member States to interact and collaborate.
● It aims to create multilateral cooperation and engagement for startups among the SCO Member
States.
● It will empower the local startup ecosystems in the Member States.
● Going forward, India will host the second meeting of the SWG in November 2024 and SCO
Startup Forum 5.0 in January 2025.
● The first Meeting of the SCO Special Working Group on Startups and Innovation (SWG),
permanently chaired by India, was organised on the theme ‘Growing from Roots’ in 2023.
About SCO :
● The Shanghai Cooperation Organization (SCO) is an intergovernmental organization founded in
Shanghai on 15 June 2001.
● The SCO currently comprises nine Member States (China, India, Kazakhstan, Kyrgyzstan,
Russia, Pakistan, Tajikistan and Uzbekistan, Iran).
STATE NEWS
Uttar Pradesh Becomes First State to Issue 5 Crore Ayushman Cards under Ayushman Bharat Pradhan
Mantri Jan Arogya Yojana
 Uttar Pradesh (UP) has emerged as the first State in the country to issue 5 crore Ayushman cards
under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
 Ayushman Card Distribution : The UP government has issued a total of 50,017,920 Ayushman
cards, benefiting 74,382,304 individuals across the state.
.
 Hospital Participation:The scheme encompasses 3,716 hospitals in Uttar Pradesh, ensuring a wide
network of healthcare facilities for beneficiaries.
 Health Claims and Settlement:A total of 3,481,252 health claims have been filed under Ayushman
Bharat in the state.
About AB-PMJAY :
 Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) - was launched in September
2018 with the aim of providing secondary and tertiary care services to the vulnerable population in
society.
 Insurance Coverage:The scheme offers medical coverage of Rs. 5 lakh per family per year for
secondary and tertiary care hospitalisation to poor and vulnerable families.
About UP :
 Governor : Anandiben Patel
 Chief Minister : Yogi Adityanath
 Capital : Lucknow
 National Park : Dudhwa National ParkWildlife Sanctuary : Bakhira Wildlife Sanctuary,
Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary
Chapchar Kut Festival Celebrated with Traditional Zeal Across Mizoram

 Mizoram's biggest festival Chapchar Kut celebrated with traditional enthusiasm and joy across the
state.
 On the occasion, thousands of people gathered at the Assam Rifles Ground-Lammual in Aizawl.
 The festival showcased the traditional and cultural richness of the Mizo community through the
performance of songs and cultural dances.
 This festival is celebrated every year on the first Friday of the month of March.
About Mizoram :
 Governor : Kambhampati Hari Babu
 Chief Minister : Lalduhoma
 Capital : Aizawl
 National Park : Murlen National Park, Phawngpui National Park
 Wildlife Sanctuary : Khawnglung Wildlife Sanctuary, Lengteng Wildlife Sanctuary, Thorangtlang
Wildlife Sanctuary
.
Himachal Pradesh Chief Minister Sukhvinder Sukhu Introduces Monthly Rs 1,500 Aid for Women Aged
18-60
 Himachal Pradesh (HP) Chief Minister (CM) Sukhvinder Sukhu announced a monthly aid of ₹1,500
for women aged 18 to 60 from the next financial year, fulfilling a Congress party 'guarantee'
promised before the state Assembly elections.
 The initiative is called the "Indira Gandhi Pyari Behna Sukh Samman Nidhi Yojna," and the state
government plans to allocate ₹800 crore annually for this scheme.
 The financial support aims to benefit over 5 lakh women in the specified age group.
 With this announcement, five out of the 10 poll promises made by the Congress party have been
fulfilled by the Himachal Pradesh government.
About HP :
 Governor : Shiv Pratap Shukla
 Chief Minister : Sukhvinder Singh Sukhu
Delhi Finance Minister Atishi Announces Monthly Assistance Scheme of Rs 1000 for Women Aged 18
and Above in Delhi Budget
 Delhi Finance Minister Atishi announced the introduction of the 'Mukhyamantri Mahila Samman
Yojana,' which will provide a monthly assistance of ₹1,000 to women above the age of 18 starting
from the fiscal year 2024-25.
 The budget for the financial year 2024-25 in the Delhi Assembly was presented by Atishi, with an
outlay of ₹76,000 crore.
 Scope and Benefits: Over 50 lakh women are expected to benefit from this scheme, empowering
them to meet their needs independently without relying on others.
 The government has allocated ₹2,000 crore for the implementation of this initiative.
About Delhi :
 Lt. Governor : Vinai Kumar Saxena
 Chief Minister : Arvind Kejriwal
 Wildlife Sanctuary : Asola Bhatti Wildlife Sanctuary
Cuttack's Rupa Tarakasi and Banglar Muslin Awarded Geographical Indication (GI) Tag
.
 Cuttack's renowned Rupa Tarakasi, also known as Silver Filigree, has been awarded the
Geographical Indication (GI) tag by the Geographical Indications Registry in Chennai, recognizing
its unique geographical origin and craftsmanship.
 The application for the GI tag was filed by the Odisha State Co-operative Handicrafts Corporation
Limited, with facilitation from the Department of Textile and Handicrafts, Government of Odisha,
underscoring the state's support for promoting local crafts.
 Filigree, traditionally associated with fine craftsmanship and intricate designs in classical jewellery,
holds a significant cultural and artisanal heritage in Cuttack.
About Odisha :
 Governor : Ganeshi Lal
 Chief Minister : Naveen Patnaik
 Capital : Bhubaneswar
Bengaluru’s First Driverless Metro Train, Aided by AI

 The Bengaluru Metro Rail Corporation Limited (BMRCL) is embarking on a significant milestone
with the introduction of driverless trains equipped with cutting-edge technology.
 As the first of its kind in Bengaluru, these trains represent a leap forward in urban
transportation infrastructure.
About Karnataka:
 Capital: Bengaluru (Executive Branch)
 Chief minister: Siddaramaiah
 Governor: Thawar Chand Gehlot
Kerala Leads Nation in Highest Passport Penetration Among Women
 In line with the visible shift in the migration pattern from Kerala of late, women from the southern
State hold the highest number of passports issued in the country till 2023, followed by
Maharashtra, Tamil Nadu, Punjab, and Gujarat.
 Overall Passport Holders: Kerala has the highest number of total passport holders in the country,
reaching 98.92 lakh, which includes both males and females.
 Male Passport Holders: Uttar Pradesh has the highest number of male passport holders, with a
count of 70.58 lakh.
About Kerala:
 Capital: Thiruvananthapuram
.
 Chief Minister: Pinarayi Vijayan

 Governor: Arif Mohammad Khan
 National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park, Silent
Valley National Park, Indira Gandhi National Park
Maharashtra Introduces 4th Women's Policy for Comprehensive Development

 The state of Maharashtra has introduced its 4th women's policy, aimed at fostering the holistic
development of women.
 Objectives of the Fourth Policy: The newly announced fourth policy aims to promote gender
equality and establish a society where women and other gender communities do not face struggles
for their identity and rights.
 Maharashtra has become the first state in India to introduce a women's policy, showcasing its
commitment to women's development and empowerment.
 Aditi Tatkare, the Women and Child Development Minister, unveiled the policy on the eve of
Women’s Day, coinciding with the golden jubilee year of the Women’s Economic Development
Corporation.
About Maharashtra :
 Governor: Ramesh Bais
 Chief Minister: Eknath Shinde
 Capital: Mumbai
 National Park: Tadoba National Park, Navegaon National Park
 Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
 UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
Kerala Set to Introduce India's First Government-Owned OTT Platform, CSpace

 Kerala's Chief Minister Shri Pinarayi Vijayan launched a government-supported OTT platform
called CSpace at the Kairali Theatre.
 This marks India's first government-backed OTT platform.
 Aim : To offer a mix of informative and entertaining content tailored especially for the masses.
.
 Viewers can access the CSpace app for download from both the PlayStore and App Store starting
March 7, 2024.
About Kerala:
Uttarakhand Chief Minister Pushkar Singh Dhami Digitally Launches 122 Schemes Across 17
Departments Valued at ₹8275.51 Crore
 Uttarakhand Chief Minister Shri Pushkar Singh Dhami inaugurates and lays the foundation stone
for 122 schemes across 17 departments, totalling Rs 8275.51 crore, utilizing digital platforms for
the ceremony.
Scope of Projects:
 Inauguration: Projects worth Rs 1,048.15 crore across 11 departments are inaugurated during the
event.
 Foundation Stones Laid: Additionally, foundation stones are laid for schemes valued at Rs
7,227.36 crore across 15 departments.
Special Schemes:
 Prepaid Metre Scheme: The Chief Minister lays the foundation stone for the Energy Department's
prepaid metre scheme, valued at Rs 2027 crore.
About Uttarakhand :
 Governor : Gurmit Singh
 Chief Minister : Pushkar Singh Dhami
 National Park : Corbett National Park, Rajaji national Park, Nanda Devi National Park
 Wildlife Sanctuary : Kedarnath Wildlife Sanctuary
The First Government Homeopathic College in Northern India to be Established in Kathua, Jammu and
Kashmir
.
 Union Minister of State (Independent Charge) Science & Technology, Dr Jitendra Singh,
announced the establishment of North India’s first Government Homeopathic College in the
Jasrota area of Kathua district, Jammu & Kashmir (J&K).
 The project is centrally funded at Rs 80 crore, signifying a significant investment in healthcare and
education infrastructure development in the region.
 Infrastructure: The college will cover an area of over 8 acres, with provisions for further expansion.
About J&K :
 Lieutenant Governor : Manoj Sinha
 Capital : Srinagar, Jammu
 National Park : Dachigam National Park, Kishtwar National Park, Kazinag National Park
Karnataka and Rajasthan States Pioneer the Country's First Exploration Licence for Critical and Deep-
Seated Minerals
 In a pioneering step towards enhancing the mining sector, Karnataka and Rajasthan have
commenced the auction of Exploration Licences (EL) for critical and deep-seated minerals.
 Auction Blocks: Karnataka offers one block featuring gold, copper, and lithium, while Rajasthan
opens bids for three blocks encompassing rare earth elements, rare metals, and potash minerals,
signaling a diversification of mineral resources.
 Legal Framework Amendment: This significant development follows the amendment of the Mines
and Minerals (Development and Regulation) Act, 1957, through the MMDR Amendment Act, 2023,
effective from August 17, 2023.
Kerala School Introduces Iris, India's First AI Humanoid Teacher Powered by Generative Technology
 A school in Thiruvananthapuram, Kerala has unveiled a groundbreaking innovation in education
with the introduction of India’s first Generative Artificial Intelligence(AI) teacher robot named ‘Iris’.
 Developed in collaboration with Makerlabs Edutech, Iris aims to transform traditional teaching
methods through personalised learning experiences for students.
 Iris has been deployed at KTCT Higher Secondary School, Thiruvananthapuram, marking a
significant advancement in educational technology within the region.
 Built under the Atal Tinkering Lab (ATL) project initiated by NITI Aayog, this AI teacher robot, Iris,
boasts a range of features aimed at revolutionising traditional teaching methods.
About Kerala:
.
Chief Minister Yogi Adityanath Launches 'Mukhyamantri Yuva Udyami Vikas Abhiyan Scheme' to
Support Young Entrepreneurs in Uttar Pradesh
 Chief Minister Shri Yogi Adityanath introduced the "Mukhyamantri Yuva Udyami Vikas Abhiyan
(MYUVA)" scheme in Uttar Pradesh (UP), with the objective of fostering entrepreneurship among
the state's youth.
 The scheme underscores the government's dedication to empowering young entrepreneurs and
cultivating an environment conducive to innovation and business development.
 Interest-Free Financing: Under the MYUVA scheme, interest-free financing is provided to assist
young individuals in launching their entrepreneurial ventures, with projects valued up to Rs 5 lakhs.
About UP :
 Governor : Anandiben Patel
 Chief Minister : Yogi Adityanath
 Capital : Lucknow
 National Park : Dudhwa National Park
 Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National
Chambal Wildlife Sanctuary
Keyi Panyor Designated as Arunachal Pradesh's 26th District

 Keyi Panyor became the 26th district of Arunachal Pradesh by carving out the areas from Lower
Subansiri.
 The new district, which was demanded by the people of the Nyishi community for a long time, will
have its headquarters at Ter Gapin-Sam Sarth.
Kerala Declares Man-Animal Conflict as State-Specific Disaster

● Amid repeated deaths from animal attacks and rising anger over them, Kerala declared man-
animal conflict as a state-specific disaster, becoming the first state in the country to do so.
.
● At present, managing man-animal conflict is the responsibility of the forest department, which
acts as per the Wildlife Protection Act.
● Previous Declarations: In 2015, Odisha had declared snakebite a state-specific disaster.
● In 2020, Kerala declared Covid as a state-specific disaster.
About Kerala:
● Capital: Thiruvananthapuram
● Chief Minister: Pinarayi Vijayan
● Governor: Arif Mohammad Khan
● National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park,
Silent Valley National Park, Indira Gandhi National Park
Centre Grants Geographical Indication (GI) Tag to Traditional Majuli Masks in Assam
● The traditional Majuli masks in Assam were given a Geographical Indication (GI) tag by the
Centre.
● Majuli manuscript painting also got the GI label.
● Majuli, the largest river island in the world and the seat of Assam’s neo-Vaishnavite tradition has
been home to the art of mask-making since the 16th century.
What are Majuli masks?
● The handmade masks are traditionally used to depict characters in bhaonas, or theatrical
performances with devotional messages under the neo-Vaishnavite tradition, introduced by the
15th-16th century reformer saint Srimanta Sankardeva.
About GI Tag :
● A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or
manufactured product (handicraft and industrial goods) originating from a definite geographical
territory.
● A GI is a label that is applied to products that have a specific geographical origin and that have
characteristics related to a particular location.
● The tag is valid for 10 years after which it is renewed.
About Assam :
● Governor : Gulab Chand Kataria
● Chief Minister : Himanta Biswa Sarma
.
● Capital: Guwahati
● National Park: Kaziranga National Park, Manas National Park, Nameri National Park
● Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife
Sanctuary
Ahmednagar Officially Renamed as 'Ahilyanagar' in Maharashtra

● The Maharashtra Cabinet formally approved the renaming of Ahmednagar district to
‘Ahilyanagar’ after the 18th century Maratha queen Ahilyabai Holkar.
● The decision to rename the district had already been announced by Chief Minister Eknath Shinde
in May last year on the 298th birth anniversary of Ahilyabai Holkar, who had established
Maheshwar (in Madhya Pradesh) as the seat of the Holkar dynasty.
● The renaming of Ahmednagar follows the Mahayuti government’s decision to rename
Aurangabad district as ‘Chhatrapati Sambhajinagar’ and Osmanabad as ‘Dharashiv’.
● Ahmednagar was founded in 1494 AD by Ahmad Nizam Shah, who later established an
independent Sultanate in Ahmednagar (the Nizam Shahi dynasty) after the break-up of the
Bahamani Sultanate into five successor states known collectively as the Deccani Sultanates.
● Meanwhile, the State Cabinet has also decided to rename 8 railway stations in Mumbai by
effecting a name change from their British-era ones.
● The station name changes are as follows: Curry Road to Lalbaug, Marine Lines to Mumbadevi,
Sandhurst Road to Dongri, Cotton Green to Kalachowki, Charni Road to Girgaon, Dockyard
Road to Mazgaon, King’s Circle to Tirthakar Parshivnath, Mumbai Central to Nana Jagannath
Shankarsheth.
About Maharashtra :
● Governor: Ramesh Bais
● Chief Minister: Eknath Shinde
● Capital: Mumbai
● National Park: Tadoba National Park, Navegaon National Park
● Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
● UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
Rajasthan Government Initiates Free Seed Kits Program to Enhance Millets Production
.
● The Rajasthan government has taken the initiative to distribute free seeds of millet and coarse
grains to farmers to enhance millet production in the state.
● The government plans to provide free mini kits of various seeds to farmers, including maize,
pearl millet (bajra), mustard, moong, sorghum (jowar), and moth seeds.
● Targeted Farmers: The distribution is aimed at benefiting approximately 1.2 million farmers with
maize seeds, 800,000 farmers with pearl millet (bajra) seeds, 700,000 farmers with mustard
seeds, 400,000 farmers with moong seeds, and 100,000 farmers with sorghum (jowar) and moth
seeds.
● Rajasthan's Contribution to Millet Production: Rajasthan holds a significant share, accounting for
26% of the total millet production in the country.
● It is noted for its production of pearl millet and sorghum, with the state contributing 41% to the
country's bajra production.
● Rajasthan Millet Promotion Mission: The government initiated the Rajasthan Millet Promotion
Mission in the fiscal year 2022-23.
● PM Kisan Samman Nidhi: The PM Kisan Samman Nidhi has been increased from Rs 6,000 to Rs
8,000 per year per farmer, providing additional financial support to farmers.
● Minimum Support Price (MSP) for Wheat: The minimum support price for wheat has been
increased to Rs 2,400 per quintal, accompanied by an additional bonus of Rs 125 per quintal.
About Rajasthan :
● Governor : Kalraj Mishra
● Chief Minister : Bhajan Lal Sharma
● Capital : Jaipur
● National Park : Keoladeo National Park, Ranthambore National Park
● Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary
India's Largest Startup Gathering, 'Startup Mahakumbh,' to Commence in Delhi

● A 3-day startup event, named "Startup Mahakumbh," is scheduled to commence in Delhi.
● The event will showcase over 1,000 startups, more than 500 incubators, hundreds of investors,
and delegations from over 10 different countries.
● Aim of the event : To connect startups with a spectrum of investors, including venture capitalists,
investors, and potential corporate partners.
● Organizers: The event is organized by Associated Chambers of Commerce & Industry of India
.
(ASSOCHAM), NASSCOM, Bootstrap Incubation and Advisory Foundation, TiE, and Indian
Venture and Alternate Capital Association (IVCA).
● Support: It is supported by the Department for Promotion of Industry and Internal Trade (DPIIT),
Ministry of Commerce and Industry.
● State Participation: 23 states will participate in the event under the theme "Bharat Innovates,"
aiming to promote their startup ecosystem and policies.
About Delhi :
● Lt. Governor : Vinai Kumar Saxena
● Chief Minister : Arvind Kejriwal
Supreme Court Halts Assam's Attempt to Revoke Pobitora Wildlife Sanctuary Notification
● The Supreme Court froze the Assam government’s move to withdraw a nearly 26-year-old
notification constituting the Pobitora wildlife sanctuary, which hosts one of the largest rhino
populations in the country.
● The Assam Cabinet made the decision to withdraw the notification issued by the State Forest
Department in 1998, which constituted the Pobitora wildlife sanctuary.
● Reason for Withdrawal: The government's rationale for withdrawing the notification was the
absence of settlement of rights of marginalized communities residing in villages like
Thengabhanga, Murkata, and Mayong, who had been living in the area since before
Independence.
● Previous Supreme Court Action: In the previous year, the Supreme Court had issued notices to
the Ministry of Environment, Forest and Climate Change (MoEF) and the Assam government in
response to a plea challenging the declaration of an eco-sensitive zone around Pobitora Wildlife
Sanctuary.
BUSINESS NEWS
In February 2024, India's GST revenue climbed by 12.5% to 1.68 lakh billion rupees.
 A total of one lakh 68 thousand 337 crore rupees gross GST revenue has been collected during
February 2024.
 This marks a robust 12.5 percent increase compared to that in the same month last year.
 This growth was driven by a 13.9 per cent rise in GST from domestic transactions and an 8.5
percent increase in GST from the import of goods.
.
 GST revenue net of refunds for February this year is 1.51 lakh crore rupees which is a growth of
13.6 percent over that for the same period last year.
Production of coal increases to 74.76 MT in February 2024.
 The Ministry of Coal has recorded a surge in overall coal production during February 2024 as per
provisional data, attaining 96.60 Million Tonne (MT) of coal production in comparison to 86.38 MT
of the corresponding month in the previous year, representing an increase of 11.83 per cent.
 According to the Coal Ministry, The production of Coal India Limited (CIL) has risen to 74.76 MT in
February 2024 as compared to 68.78 MT in February 2023 with a growth of 8.69 per cent.
L&T commissions the first indigenously manufactured Hydrogen Electrolyser at Hazira
 Larsen & Toubro (L&T) commissioned its first indigenously manufactured electrolyser at the Green
Hydrogen Plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat.
 This step marks L&T Electrolysers Limited's entrance into the domestic manufacturing of
electrolysers, aligning with the company's focus on enhancing sustainable energy solutions.
 The electrolyser, with a rated power capacity of 1 MW, expandable to 2 MW, is capable of
producing 200 Nm3/Hr of hydrogen.
Depositors can claim their unclaimed amount refunded from DEA Fund
 Customers or depositors can claim a refund of their unclaimed amounts from their banks.
 After paying the depositor with interest, banks can lodge a claim for a refund from the Depositor
Education and Awareness (DEA) Fund.
 The DEA Fund Scheme, 2014, was formulated by the RBI.
 The scheme came into effect on May 24, 2014, i.e., the date of notification of the scheme in the
Official Gazette of India.
India to transition to middle-income economy by FY36; hit $15 trillion mark by FY47
 The Indian economy will transit to an upper middle-income country by FY36, reaching the $15
trillion mark by FY47, India Ratings and Research (Ind-Ra).
 The rating agency noted that if the economy maintains a real GDP growth of 6.25%, it could
become an upper-middle-income country by FY36, with per capita income reaching $9,218 by
FY47.
 According to the rating agency, the size of the Indian economy is likely to reach $15 trillion by
2047, which is around half of the government’s projections. Finance Minister Nirmala Sitharaman
recently said that achieving a $30 trillion economy by 2047 is a “conservative” estimate.
.
Coal Sector Aims to Ramp up Renewable Energy Capacity to Over 9 GW by 2030

 The coal sector aims to ramp up renewable energy capacity to over 9 GW by the year 2030,
signalling a profound commitment to sustainability and environmental stewardship.
 In alignment with the Prime Minister's ‘Panchamrit’ announcement during COP-26 and to progress
towards the goal of net zero carbon emissions by 2070, Ministry of Coal has taken significant steps
for promoting renewables initiatives towards reducing carbon footprints.
Coal PSUs achieve over 106% of the capital expenditure target for 2023-24
 Coal PSUs under the administrative control of MoC have been at the forefront of doing CAPEX to
assist and contribute to transforming the Indian economy.
 Over the past few years Coal CPSE has been overachieving the CAPEX Target.
 In FY 21-22, Coal PSUs had achieved 104.86% of their target.
 Similar performance was repeated in FY 2022-23 where coal PSUs achieved around 109.24% of
its target.
 There has been consistent YoY growth in CAPEX by Coal PSUs over the last 3 years.
SJVN Green Energy to develop solar projects of over 1.3GW in Maharashtra
 SJVN Limited, a Mini Ratna, Category-I and Schedule ‘A’ Central public sector enterprise under
the administrative control of the Ministry of Power, Government of India, has received Letters of
Award for the development of Solar Power Projects of capacity 1,352 MW in Maharashtra.
 The projects will be developed through SJVN Green Energy Limited (SGEL), a wholly owned
subsidiary of SJVN, in four districts of the state, namely, Nashik, Solapur, Ahmednagar, and Pune.
 Chairperson & Managing Director, SJVN, Smt. Geeta Kapur has informed that these solar projects
will be developed under Mukhya Mantri Saur Krushi Vahini Yojana 2.0, of the Government of
Maharashtra.
India's retail inflation eases to 5.09 per cent in February 2024
● India's retail inflation eased marginally to 5.09 per cent on an annual basis in February 2024 as
against 5.10 per cent in the previous month.
● The number has remained within the Reserve Bank of India's (RBI) tolerance band of 2-6 per cent.
● The rural inflation rate remained unchanged at 5.34 per cent, meanwhile, the urban inflation rate
declined to 4.78 per cent from 4.92 per cent in January.
● The data provided by the Ministry of Statistics and Programme Implementation (MoSPI) revealed,
India's industrial production grew 3.8 per cent in January 2024.
.
● In its February meeting, the RBI Monetary Policy Committee (MPC) left its inflation forecast for FY24
unchanged at 5.4 per cent.
NSE to reduce cash, and derivative transaction charges by 1 per cent

● The National Stock Exchange (NSE) announced that its board has approved a one per cent
reduction in overall transaction charges across cash equity and equity derivatives segments and
products with effect from April 1, 2024.
● The domestic stock exchange said the reduction is expected to have an overall impact of around
₹130 crore per annum on the company's revenue from transaction charges.
● The expected date of completion of the sale is March 31, 2024.
About NSE
● National Stock Exchange of India Limited is one of the leading stock exchanges in India, based in
Mumbai.
NHPC is set to develop a 200 MW solar power project in Khavda, located in the Kachchh district of
Gujarat.
● NHPC Limited, India’s premier hydropower company and a central public sector enterprise under the
Ministry of Power has won the bid to develop a 200 MW capacity Solar Power Project to be set up
in the 1,125 MW RE Park of Gujarat State Electricity Corporation Ltd. (GSECL) at Khavda in
Kachchh district of Gujarat.
● The project will generate about 473 million units of electricity in the first year of commissioning and
the cumulative energy generation from the project over 25 years would be about 10,850 million units.
● NHPC will develop the project on a build-own-and-operate basis at a tentative development cost of
Rs. 847 crores.
Accenture Launches Accenture LearnVantage to Help Clients and Their People Gain Essential Skills
and Achieve Greater Business Value in the AI Economy
● Accenture has launched Accenture LearnVantage, a technology learning and training services for its
clients.
● The company will invest $1 billion in Accenture LearnVantage over three years and has agreed to
acquire educational platform Udacity.
● Accenture LearnVantage will help clients re-skill and upskill in the areas of technology, data and AI
to fill gaps created by advances in technologies.
.
● Julie Sweet, chair and CEO, Accenture.
Net direct tax collections likely to surpass FY24 target of Rs 19.45 lakh crores
● Advance tax payments have bolstered net direct tax collections, which may now surpass the
upwardly revised target of Rs 19.45 lakh crores by the end of this fiscal.
● Net direct tax collections from April 1, 2023, to March 15, 2024, stood at Rs 18.95 lakh crore, up
14.05% year on year, buoyed by advance tax collections of Rs 9.10 lakh crore.
● So far, corporates have paid Rs 6.72 lakh crore in advance tax while individuals accounted for Rs
2.37 lakh crore.
Coal stocks to rise even in summers, inventory may hit 155mt by FY24-end
● Coal stocks across power plants in the country will be enough to meet the anticipated surge in power
demand in the upcoming summer, according to Amrit Lal Meena, secretary of the Union Ministry of
Coal.
● Total coal stocks may touch 155 million tonnes by the end of the fiscal, against 125mt last year.
● The peak power demand in the next fiscal year is expected to touch 260 GW, a new high, and way
above the 243 GW hit last year.
Government's dividend collection from CPSEs hits record Rs 61,149 crores

● The government's dividend mopup from non-financial central public sector enterprises (CPSEs) and
entities in which it holds minority stakes has touched a record ₹61,149 crore, 22% higher than the
revised estimate for 2023-24, with almost a fortnight to go this fiscal.
● The Department of Investment and Public Asset Management (Dipam) has recorded total receipts of
Rs 75,886 crore, comprising both disinvestment proceeds and dividend collections.
● Disinvestment revenue for the financial year currently stands at Rs 14,737 crore.
● The 2023-24 Interim Budget projected dividend collections of Rs 50,000 crore, which surpassed the
initial target of Rs 43,000 crore.
Adani Group Plans To Invest ₹ 1.2 Lakh Crore In Portfolio Companies In FY25
● Adani Group plans to invest more than ₹ 1.2 lakh crore ($14 billion) across its portfolio companies
that range from ports to energy, airports, commodities, cement and media in the fiscal year starting
April 1, as it doubles down on its $100 billion investment guidance over the next seven-ten years to
grow businesses
● The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40%
.
higher than what the portfolio is estimated to have incurred in FY24.

● According to analysts, the portfolio is estimated to have incurred a capex of around $10 billion in
FY24 that ends on March 31.
● The group had previously guided a $100 billion capex over the next 7-10 years.
About Adani Group
● Founder: Gautam Adani
● Headquarters: Ahmedabad
● Founded: 1988
Economists lower FY24 CAD forecasts on record services-trade surplus
● The near-13-year high services trade surplus in February 2024 has prompted economists to scale
down their projections of India’s current account deficit (CAD) for the current financial year.
● Many economists now expect CAD to come in at 0.8-0.9% of the GDP during the entire FY24, as
compared to their previous forecast of 1.1-1.2%.
● India’s overall trade deficit during February was meagre $2billion, lower than $4.2 billion in January.
About CAD
● Current account deficit (or surplus) calculates the difference between the money obtained and sent
from the country on the trade of goods and services as well as the movement of capital from
domestic production factors abroad.
GST compensation cess may end before the March 2026 deadline
● The Goods and Services Tax (GST) compensation cess levied on products such as automobiles,
liquor, cigarettes, aerated water and coal could end earlier than the March 31, 2026 deadline on the
back of robust GST collections every month
● States have been already given “the entire provisionally admissible compensation” amounting to
₹9.14 lakh crore for their revenue shortfalls in the transition period of five years ended June 2022,
but the cess has been continued to retire the loan of ₹2.69 lakh crore that was taken during the
Covid pandemic for this purpose.
● While launching the new indirect tax regime, the GST law assured states of a 14% increase in their
annual revenue for the five years from July 1, 2017 to June 30, 2022.
Net direct tax collections rise 20% at Rs 18.9 trillion till March 17
● The government seems to be within striking distance of meeting the revised estimates (RE) for direct
tax collection this financial year and it has to collect around Rs 55,000 crore in 14 days to meet the
.
projections for 2023-24.

● This is because the government collected Rs 18.9 trillion till March 17, representing a growth rate of
19.88 per cent year-on-year (Y-o-Y).
● Direct tax collection was boosted by a 22.3 per cent Y-o-Y increase in advance tax collection
(including refunds) till March 17 of FY24.
● Collection from advance taxes grew 22.31 per cent at Rs 9.11 trillion till March 17 this financial year
against Rs 7.45 trillion during the corresponding period of the previous financial year.
Net FDI in India down 38% in April 2023– January 2024

● Net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent year-on-
year to $15.41 billion in the first 10 months of this financial year due to an increase in the repatriation
of capital.
● According to the Reserve Bank of India’s data in the March 2024 bulletin, FDI in India was $25.53
billion and outflows were $10.11 billion in April 2023-January 2024.
● Around 80 per cent of the equity flows were received from Singapore, Mauritius, the US, the
Netherlands, Japan, and the United Arab Emirates.
● The TEPA aims to attract FDI of $100 billion in India from EFTA over the next 15 years and generate
one million direct employment opportunities.
Credit growth in FY25 may decline by up to 100 bps
● The credit growth is likely to slow down in the next financial year as banks look to go slow on retail
loans in response to the Reserve Bank of India’ (RBI) measures aimed at curbing the expansion of
retail credit.
● The credit growth is expected to decline by 100 basis points (bps) to 15% in FY25.
● The growth, excluding the merger impact of mortgage lender HDFC with HDFC Bank, is expected to
be around 16-16.5% in the current fiscal.
● Credit growth is expected to decline to 15% in the next financial year from 20.5%, which includes
merger impact of HDFC with HDFC Bank, in the current fiscal.
Gross Direct Tax Collection Registered Growth Of 18.74 % during Current Financial Year
● Gross Direct Tax collection has registered a growth of 18.74 percent during the current Financial
Year.
● According to the Finance Ministry, gross direct tax collection stands at over 22 lakh 27 thousand
.
crore rupees which is more than 18 lakh 75 thousand crore rupees reported in the corresponding
financial year 2022-23
● Refunds amounting to three lakh 36 thousand 808 crore rupees have also been issued in the
Financial Year 2023-24 which is 12.74 per cent higher in comparison to the refunds issued during
the same period in the preceding year.
The share of women investors in mutual funds grows to 21% in December 2023
● The shares of assets owned by women investors in mutual funds have increased 21 per cent as
of last December-end against 15 per cent in March 2017.
● According to the Association of Mutual Funds in India data, curated by CRISIL, share of MF
assets owned by women from beyond top-30 cities increased to 28 per cent from 17 per cent and
that of their folios was up to 18 per cent from 15 percent during the same period.
● The report ‘Mutual Growth’ has underscored the significant strides women have made in mutual
funds participation.
FMC India launches precision agriculture platform

● FMC India, an agricultural sciences company and arm of US-based FMC Corporation, has launched
a precision agriculture platform Arc farm intelligence in India.
● By combining real-time data and predictive modelling, Arc farm intelligence assists farmers in
monitoring field conditions and pest pressure.
● Arc farm intelligence, a one-stop solution for farmers, will support them in making informed decisions
based on real-time field insights for more effective and efficient crop care, thus providing them with
enhanced precision, productivity and profitability
● The Arc farm intelligence app will also provide farmers easy access to FMC India’s boom spray
service.
Capping of interest subsidy for exporters to continue in Q1 of new fiscal

● The Centre has notified an interest subsidy cap of ₹2.5 crore for individual export units in the first
quarter of the forthcoming fiscal 2024-25 under the popular interest equalisation scheme (IES) for
identified sectors and MSMEs.
● This is in continuation of its capping policy, introduced this fiscal, to ensure that more units can
benefit from the scheme.
.
● The DGFT issued a notification clarifying that a cap of ₹2.50 crore per IEC is imposed till June 30,
2024, for the quarter starting from April 1, 2024.
India's coal & lignite production surpasses 1-billion-tonne mark
● Coal and lignite production in India crossed 1 billion tonnes in 2023-24, as of March 22, in line with
the government's target for this financial year.
● The output was 6.7% higher year-on-year.
● India is the world's second-largest producer, after China, also surpassed FY23’s coal and lignite
production of 937.22 million tonnes (mt) — twenty-five days in advance.
● Surpassing the 1-billion-tonne mark in coal and lignite production reduces the dependence on
imports.
FPIs Inject Over 38,000 Crore Rupees In Equities In March 2024 So Far Amid Strong Domestic
Macroeconomic Outlook
● Foreign portfolio investors have shown a significant resurgence in their investment activity within the
Indian equity markets this month, injecting over 38,000 crore rupees, mainly driven by favourable
shifts in the global economic scenario and a strong domestic macroeconomic outlook.
● The investment came following a modest investment of 1,539 crore rupees in February, and a
massive outflow of 25,743 crore rupees in January.
● With this, foreign portfolio investors’ (FPIs) investment has turned positive to the tune of 13,893
crore rupees in equities so far in 2024 and 55,480 crore rupees in the debt market.
Direct selling industry grew 12% in 2022-23, crosses Rs 21,000 crore in turnover
● An annual survey report released by the Indian Direct Selling Association (IDSA) India’s direct
selling industry grew over 12% year-on-year in 2022-23, clocking an overall industry turnover of Rs
21,282 crore.
● The report noted that the sector grew 8.3% by CAGR in the four-year period between 2019-20 and
2022-23.
● According to the report, the total sales have increased by ₹2252 crore compared to the year 2021-22
which was partially impacted by the pandemic.
● India has improved its ranking by one step to climb to 11th place in 2022 on the global direct selling
map, up from 15th in 2019.
● Vivek Katoch, Chairperson, IDSA.
.
Amul to sell ‘fresh milk’ for the first time in the United States
● For the first time in its history of milk cooperatives in India, Amul’s brand of “fresh milk” will be sold in
the United States.
● The Gujarat Cooperative Milk Marketing Federation (GCMMF) --- the umbrella body of milk
cooperatives in Gujarat that markets and sells milk under the brand Amul --- has tied up with the
Michigan Milk Producers Association to sell “fresh milk” in the East Coast and Midwest markets of
the US.
● The GCMMF official said the dairy plant of the Michigan Milk Producers Association in Ohio was
strategically placed and Amul could access markets in Chicago, Dallas and other areas on the East
Coast of the US.
● GCMMF is India’s largest exporter of dairy products and has also been accorded a “trading house”
status.
Galaxy Health gets IRDAI approval to launch health insurance business

● Galaxy Health and Allied Insurance Company has secured approval from the IRDAI to commence its
health insurance business in the country.
● This decision came during the 125th meeting of the regulator, marking a significant entry into the
Indian insurance sector.
● With this approval, the count of stand-alone health insurers (SAHIs) in India will rise to seven, adding
to the existing six.
● Galaxy is the second stand-alone health insurer to receive the nod from the IRDAI in 2024.
● This is the sixth registration issued by the authority across various insurance segments within almost
a year.
● Notably, earlier this year, IRDAI granted Narayana Health in-principle approval to establish a health
insurance enterprise in the country.
● Galaxy Health Insurance will have an initial capital of over Rs 200 crore.
● The minimum equity capital requirement to set up a Life, General or Health Insurance Company is
INR 100 crore; b. In the case of a Reinsurance company, the requirement is a minimum of INR 200
crore.
Centre notifies 3-10% hike in MGNREGA wage rates for FY25 ahead of polls
● The new wage rates for unskilled manual workers under the Mahatma Gandhi National Rural
Employment Guarantee Act (MGNREGA), 2005 for the financial year 2024-2025 have been
.
introduced ahead of the Lok Sabha elections 2024.

● These new wage rates will become effective from the upcoming financial year that begins from
April 1, 2024.
● The state of Goa witnessed a maximum hike of 10.56 percent over the current wage rate taking
the wage to ₹356 per day for financial year 2024-2025 against ₹322 per day in the current fiscal
year.
● Meanwhile, Uttar Pradesh and Uttarakhand registered the lowest raise of 3.04 percent each from
existing ₹230 to ₹237 per day.
● The highest rate of NREGS wage is ₹374 per day has been allotted for Haryana, while the lowest
NREGS wage that is ₹234 per day has been fixed for Arunachal Pradesh and Nagaland.
● As per the notification, three other states including Karnataka, Andhra Pradesh and Telangana,
have registered over 10 percent hike in the NREGS wages for the financial year 2024-25.
● The new NREGS wage rate will be ₹349 per day in Karnataka which marks a 10.44 percent
increase than the previous rate of ₹316 per day.
● Considering Andhra Pradesh and Telangana, the new NREGS wage rates will be ₹300 per day,
which marks 10.29 increase from the previous rate which stood at ₹272 per day during the
current financial year.
● Under the NREGS, Madhya Pradesh and Chhattisgarh share the same wage rate, both these
states have seen a 10 percent surge in rates taking existing ₹221 to ₹243 per day.
● Additionally, other states that witnessed a hike of NREGS wage rates below 5 percent include
Haryana, Assam, Manipur, Arunachal Pradesh, Nagaland, Rajasthan, Kerala and Lakshadweep.
● Moreover, the wages witnessed an average increase of about 7 percent from the existing all-
India average wage rate which stood at ₹267.32 per day and is now ₹285.47 per day for the
financial year 2024-25.
Government to borrow ₹7.5-lakh crore in April-September (2024-2025)
● The government will borrow ₹7.5-lakh crore between April 1 and September 30, the Finance
Ministry stated.
● The interim Budget has set a target of ₹14.13-lakh crore of gross borrowing during FY25 to
bridge the deficit between expenditure and Income.
● This means 53 per cent of the yearly target is to be borrowed during the first half of the current
fiscal, which is lower than the previous years’ number of 60 per cent or more.
● According to the calendar, first half borrowing through dated securities will include ₹12,000 crore
.
through issuance of Sovereign Green Bonds (SGBs).

● The market borrowing will be spread over 3, 5, 7, 10, 15, 30, 40 and 50-year securities. The
share of borrowing (including SGBs) under different maturities will be: 3-year (4.80 per cent), 5-
year (9.6 per cent), 7-year (8.80 per cent), 10-year (25.60 per cent), 15-year (13.87 per cent), 30-
year (8.93 per cent), 40-year (19.47 per cent) and 50-year (8.93 per cent).
● While long-term borrowing (1 year-50 years) is made through dated securities, there is also
provision of Treasury Bills for short-term borrowing (91 days, 182 days and 364 days).
GST collection in FY 23 set to cross ₹20 lakh-crore

● Goods and Services Tax (GST) collection in the current financial year ending March 31 is
expected to surpass the ₹20 lakh crore mark with an annualised growth of approximately 12%,
two officials aware of the development stated, attributing the increase to heightened economic
activity and ease of compliance-driven by technology.
● Robust collections are also expected for GST cess in the 2023-24 period, with total revenue
under the component likely to be around ₹1.45 lakh crore, the officials added.
● This increases the probability that it could be rolled back sooner than the March 31, 2026
deadline set initially.
● The government extended the GST cess, which is levied on luxury items and so-called sin goods
such as automobiles, liquor, cigarettes, aerated water and coal, up to March 31, 2026 to retire
the ₹2.69 lakh crore debt taken to compensate states for their revenue shortfall during the
pandemic years.
April-February of FY24 fiscal deficit at 86.5% of the revised annual target
● The central government's fiscal deficit in the first 11 months of 2023-24 stood at ₹15 lakh crore,
86.5% of the revised target for this financial year, according to official data released.
● By February-end, the Centre had spent ₹37.47 lakh crore in this fiscal, 83.4% of the revised
expenditure target for the year.
● Experts stated the Centre would comfortably meet the downwardly revised fiscal deficit target for
the fiscal.
● The fiscal deficit in absolute terms was revised down to ₹ 17.35 lakh crore or 5.8% of gross
domestic product (GDP) from the earlier budget estimate of ₹17.87 lakh crore.
● The Centre spent ₹8.05 lakh crore of its revised capex target of ₹9.60 lakh crore by the end of
February, according to data from the Controller General of Accounts.
.
● This was 36.5% higher than the total capex for the corresponding period of the previous fiscal.
Reliance acquires 26% stake in Adani’s power project
● In the first collaboration between rival billionaires, Mukesh Ambani’s Reliance Industries has
picked up a 26 per cent stake in Gautam Adani’s Madhya Pradesh power project and signed a
pact to use the plants’ 500 MW of electricity for captive use.
● Reliance will pick up 5 crore equity shares in Mahan Energen Ltd, a wholly owned subsidiary of
Adani Power Ltd, of face value Rs 10 at par (Rs 50 crore) and will use 500 MW of generation
capacity for captive use, the two firms stated in separate stock exchange filings.
● Adani aspires to be the world’s largest renewable energy producer by 2030.
Core sector growth at a 3-month high of 6.7% in February 2024

● Output growth in eight core infrastructure sectors that include electricity, steel, cement and crude
oil, accelerated to a three-month high of 6.7% in February from 4.1% in the previous month,
official data released.
● Sequential improvement was recorded in six out of the eight sectors.
● During February, the growth rate in cement, coal, crude oil, electricity, natural gas and refinery
products was higher than in January 2024.
● Two sectors, fertilisers and steel, witnessed sequential deceleration.
● Three of the eight core industries displayed a double-digit expansion in February 2024, namely,
coal, cement and natural gas.
● These eight core sectors contribute 40.27% to the Index of Industrial Production (IIP).
Tata Motors will be the biggest loser when the FAME-II scheme expires on March 31
● The country’s largest electric vehicle (e-PV) maker, Tata Motors, was the biggest beneficiary of
the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles in India (FAME)
scheme.
● With the expiration of the scheme on March 31, it is set to be the biggest loser.
● Sources stated that the government did not extend the FAME-II scheme because the benefits of
the scheme were not widely spread.
● According to sources, the company has sold around 2,200 electric buses and 15,000 e-PVs (for
fleet services) under the scheme, for which it has got an average of ₹20,000 per kWh for each of
the buses and ₹10,000 on an average for the electric cars on a per kWh basis.
● Under the FAME scheme, the company gets incentives for three of its vehicles, including the Ace
.
EV (small commercial vehicle), EV Bus and XPres-T (fleet cars for aggregators like BluSmart and
Uber).
About FAME-II scheme:
● The FAME-II scheme was launched in 2019 with a budget outlay of ₹10,000 crore, targeting to
support 7,000 e-buses, five-lakh electric three-wheelers, 55,000 electric passenger cars, and 10-
lakh electric two-wheelers.
APPOINTMENTS & RESIGNATIONS

De Beers' Sachin Jain Named Chief Executive Officer of World Gold Council
 The World Gold Council has appointed Sachin Jain as its new Chief Executive Officer (CEO),
India, who will take up the role in March 2024.
 Jain will succeed Somasundaram PR, who will continue in his present job and duties till Jain joins
to facilitate a smooth transfer.
 Somasundaram will continue to work with the World Gold Council as an advisor on the
establishment of a self-regulatory organisation (SRO), which is a critical project for the Indian gold
sector.
About World Gold Council :
 Founded : 1987
 Headquarters: London, United Kingdom
 President : Kelvin Dushnisky
 CEO: David Tait
 The World Gold Council is the market development organisation for the gold industry.
Paytm Founder and CEO Vijay Shekhar Sharma steps down from Paytm Payments Bank board
 Vijay Shekhar Sharma, Chief Executive Officer (CEO) of Paytm and nominee of One97
Communications Ltd (OCL), has resigned from his positions as part-time non-executive chairman
and board member of Paytm Payments Bank Limited (PPBL).
 His resignation facilitated a transition in the structure and composition of the PPBL board.
About Paytm :
 Founded : August 2010
 Headquarters : Noida, Uttar Pradesh, India
.
Indian-Origin Samir Shah Appointed as BBC's New Chairman

 Dr. Samir Shah, an India-born media executive, has been confirmed as the new BBC chairman
after his selection underwent scrutiny and was approved by King Charles III.
 Responsibilities as Chair: In his role, Shah will be tasked with upholding and protecting the
independence of the BBC's board and ensuring that its decisions are made in the public interest.
 Born in Aurangabad, India, Shah moved to England in 1960.
RBI Approves Appointment of S Ravindran as Part-Time Chairman of Tamilnad Mercantile Bank

 The Reserve Bank of India (RBI) has approved the appointment of S Ravindran as the part-time
chairman of Tuticorin-based Tamilnad Mercantile Bank (TMB).
 This appointment is effective from February 29, 2024, and extends till August 2, 2026.
 Prior to assuming charge as part-time chairman of the bank, he has to step down from
the directorships in Shriram Finance and Bandhan AMC
 The position of non-executive part-time chairman at TMB had been vacant since February 2, 2020,
following the departure of S. Annamalai.
 TMB had previously recommended B. Vijayadurai for the chairman role on August 20, 2022, but
the proposal was not approved by the RBI.
About Tamilnad Mercantile Bank :
 Founded : 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in
November 1962
 Headquarters : Thoothukudi, Tamil Nadu, India
 Tagline : Be a Step ahead of Life
Shehbaz Sharif was sworn in as the 24th Prime Minister of Pakistan
 Shehbaz Sharif, the president of Pakistan Muslim League-Nawaz (PML-N), was elected as the
24th Prime Minister of Pakistan by the National Assembly.
 The session of the National Assembly was chaired by Speaker Sardar Ayaz Sadiq.
 This marks Shehbaz Sharif's second term as Prime Minister, having previously served in the role
from April 2022 to August 2023.
 Consensus Candidate: Shehbaz Sharif, aged 72, was the consensus candidate of both the
Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP).
About Pakistan:
 Capital: Islamabad
.
 Currency: Rupee
 President: Arif Alvi
Lubrizol Appoints Bhavana Bindra as Managing Director for India, Middle East, and Africa
 Bhavana Bindra has been appointed as the Managing Director for India, Middle East & Africa
(IMEA) Region by Lubrizol, a major player in the speciality chemicals industry.
 She will be responsible for leading the company’s IMEA team to deliver regional growth for Lubrizol
and its customers based on a local-for-local approach.
About Lubrizol :
 Founded : 1928
 Headquarters : Wickliffe, Ohio, United States
 President & CEO : Rebecca Liebert
 The Lubrizol Corporation is an American provider of specialty chemicals for the transportation,
industrial and consumer markets.
Former Life Insurance Corporation Chief MR Kumar Appointed as Non-Executive Chairman of Bank of
India
 Bank of India (BoI) has announced the appointment of MR Kumar, former chairman of Life
Insurance Corporation (LIC), as its non-executive chairman.
 Alongside MR Kumar's appointment, Bank of India also announced the appointment of Rajiv
Mishra as an executive director.
 Additionally, he served as the chairman of the Council of Insurance Ombudsman.
 MR Kumar served as the chairman of LIC from 2019 to March 2023 before joining BoI.
About Bank of India :
 Founded : 7 September 1906
 MD & CEO : Rajneesh Karnatak
 Tagline : Relationship Beyond Banking
Future Generali India Life Insurance Names Alok Rungta as Managing Director and Chief Executive
Officer
.
 Future Generali India Life Insurance announced the appointment of Alok Rungta to the position of
Managing Director (MD) & Chief Executive Officer (CEO) effective 1st April 2024 subject to receipt
of necessary regulatory approvals.
 He takes the reins from Bruce De Broize, who is the MD & CEO until 31st Mar 2024.
 Alok, currently serving as the Deputy CEO and Chief Financial Officer (CFO), brings a wealth of
experience and expertise to his new role.
 Before this, he held executive positions at prominent insurance companies in the Philippines, Hong
Kong and India, highlighting a dedicated career towards leadership.
About Future Generali India Life Insurance :
 Founded : 2007
 Future Generali India Life Insurance was established as a joint venture between Future Group
(74% owner) and Generali Group (26% owner).
Nayab Singh Saini Sworn in as Haryana Chief Minister from Bharatiya Janata Party; 5 Others Take
Oath as Ministers
 Nayab Singh Saini, the Haryana Bharatiya Janata Party (BJP) chief and a prominent Other
Backward Classes (OBC) leader, has been sworn in as the 11th Chief Minister of Haryana
following the resignation of Manohar Lal Khattar.
 The new cabinet includes 5 other Members of the Legislative Assembly (MLAs): Kanwar Pal
Gujjar, Jai Parkash Dalal, Moolchand Sharma, Banwari Lal, and Independent MLA Ranjit Singh.
 The oath-taking ceremony took place at the Raj Bhavan, where Haryana Governor Bandaru
Dattatreya administered the oath to Nayab Singh Saini and the other ministers.
Kishor Makwana Takes Office as Chairman of National Commission for Scheduled Castes
 Shri Kishor Makwana assumed the charge of Chairman of the National Commission for Scheduled
Castes (NCSC) in New Delhi .
 Shri Luv Kush Kumar also assumed the charge of Member of the National Commission for
Scheduled Castes (NCSC).
 Makwana served as a joint spokesperson of the Gujarat unit of the Bharatiya Janta Party (BJP).
Foreign Secretary Vinay Mohan Kwatra Granted 6-Month Extension
.
 The Appointments Committee of the Cabinet (ACC), led by Prime Minister Shri Narendra Modi,
has approved a 6-month extension in the service of Vinay Mohan Kwatra as Foreign Secretary.
 The extension is granted for a period of 6 months beyond April 30, 2024, until October 31, 2024, or
until further orders, whichever is earlier, in public interest, in terms of provisions of FR 56 (d)."
 This is his second extension.
Author & philanthropist Sudha Murty Nominated to Rajya Sabha by President Droupadi Murmu
 Sudha Murty,73, former chairperson of Infosys Foundation and philanthropist, has been nominated
to the Rajya Sabha by President Droupadi Murmu, becoming the 12th nominated member in the
Upper House of Parliament.
 Constitutional Provision: Article 80(3) of the Constitution stipulates that out of the 245 members in
the Rajya Sabha, 12 are nominated by the President based on the government's recommendation.
 Qualifications for Nomination: According to Article 80(3), nominated members should possess
special knowledge or practical experience in fields such as literature.
Ashwani Kumar was Unanimously Elected as the New President of the Federation of Indian Export
Organisations
 Mr. Ashwani Kumar, Partner at Victor Forgings, Jalandhar, has been unanimously elected as the
new President of the Federation of Indian Export Organisations (FIEO).
 He has replaced A Sakthivel.
 Mr Ashwani Kumar is a well known and popular business entrepreneur and exporter from
Jalandhar (Punjab), representing the engineering sector of exports.
 Previous Positions: Prior to his election as President, Mr. Kumar held several key positions in
various renowned organizations across the country. These include:
About FIEO :
 Director General & CEO : Dr. Ajay Sahai
 Federation of Indian Export Organisations (FIEO) is the apex trade promotion organisation in India
set up by the Ministry of Commerce, Government of India, and the private trade and industry
segment in 1965.
 The organisation is responsible for representing and assisting Indian entrepreneurs and exporters
in foreign markets.
.
Shri AS Rajeev appointed as Vigilance Commissioner in the Central Vigilance Commissioner

 Shri AS Rajeev has been appointed as Vigilance Commissioner in the Central Vigilance
Commission (CVC) by the Hon’ble President of India through a warrant dated 9th February 2024,
under the power vested under Section 4 (1) of the Central Vigilance Commission Act, 2003.
 Shri AS Rajeev took the oath as Vigilance Commissioner on 11th March 2024 before the Central
Vigilance Commissioner.
 Shri A S Rajeev is a career banker with over 38 years of experience in four banks, namely,
Syndicate Bank, Indian Bank, Vijaya Bank and Bank of Maharashtra.
Rajendra Prasad Goyal Takes on Additional Responsibility as Chairman and Managing Director of
NHPC
 Rajendra Prasad Goyal, Director (Finance), NHPC has taken over the additional charge of the post
of Chairman and Managing Director (CMD) of NHPC Limited, India’s premier hydropower company
and a Schedule ‘A’ Enterprise of Government of India (GoI).
 Goyal joined NHPC on 18th November 1988 as Finance Professional.
 Goyal is also a member of the Executive Board of Standing Conference of Public Enterprises
(SCOPE), New Delhi.
Reserve Bank of India Endorses BK Divakara's Appointment as Whole-Time Director at CSB Bank
 The Reserve Bank of India (RBI) has approved the appointment of BK Divakara as a Whole-Time
Director (Executive Director) of CSB Bank for 3 years.
 Divakara is an Associate Member of the Institute of Chartered Accountants of India, the Institute of
Company Secretaries of India and the Institute of Cost and Management Accounts of India.
About CSB Bank Limited :
 Founded : 26 November 1920
 Headquarters : Thrissur, Kerala, India.
 CEO: Pralay Mondal.
SAP appoints Manish Prasad as President, MD for Indian Subcontinent
 Cloud software major SAP announced the appointment of Manish Prasad as President and
Managing Director for SAP Indian Subcontinent.
.
 In his new role, Manish takes over responsibilities from Kulmeet Bawa, who has moved on to
assume a global role for the SAP Business Technology Platform (SAP BTP). Manish brings over
26 years of leadership experience.
 He rejoined the software company in 2021 as the Head of Industries. Previously, he worked with
the company for two years as Head of Consulting and Services - Sales for India, until he stepped
down in 2019 to join Wipro for a third stint as the India Business Head.
ACKO General Insurance names Animesh Das as CEO
 Insurtech unicorn Acko has elevated its chief underwriting officer, Animesh Das, as the new Chief
Executive Officer (CEO) of its subsidiary entity--ACKO General Insurance—as Sanjeev Srinivasan
takes the board role.
 Varun Dua will continue as the CEO of Acko Technologies, the parent company of Acko General
Insurance.
 Srinivasan, the former MD and CEO at Bharti Axa General Insurance, joined the General Atlantic-
backed venture in 2021 as the managing director and CEO of the subsidiary unit.
Asif Ali Zardari of Pakistan Peoples' Party Elected as 14th President of Pakistan; 1st Civilian To Secure
2nd Term
 Asif Ali Zardari, the Co-chairperson of the Pakistan People's Party (PPP), has secured his second
term as Pakistan's 14th President, marking a significant milestone in the nation's history,
particularly in a context marked by past military interventions.
 Zardari's re-election makes him the first civilian president in Pakistan's history to be elected for a
second term, underscoring the evolution of democratic processes in the country.
 The President-elect is scheduled to take the oath of office at the President House, with Chief
Justice of Pakistan Justice Qazi Faez Isa presiding over the ceremony, symbolizing the
constitutional transfer of power.
About Pakistan :
 Prime Minister : Shehbaz Sharif
 Capital: Islamabad
 Currency: Rupee
LTIMindtree appoints Vipul Chandra as chief financial officer
.
 LTI Mindtree's Chief Financial Officer, Vinit Teredesai, has announced his resignation from the
company effective April 24, 2024.
 The company made this announcement on March 7, citing Teredesai's desire to explore
professional opportunities outside the L&T Group as the reason for his resignation.
 The Board of Directors has appointed Vipul Chandra as the new CFO, effective April 25, 2024.
 Chandra is currently the Head of Treasury at Larsen & Toubro, the parent company.
 Teredesai is a finance professional with 29 years of experience in the technology and
manufacturing sectors.
Leo Puri Appointed as Adviser and Chairman of Apax Partners' India Division
● Private equity firm, Apax Partners LLP has appointed Leo Puri as an Advisor to Apax and
Chairman of Apax India.
● In the newly created role, Leo Puri will advise Apax on the long-term growth strategy of the firm in
the region.
● He will partner with Anurag Sud, head of Apax India, and the India investment team, to provide
mentorship, strategic advice on operational input, and in assessing new investment opportunities.
● Sud will continue to lead and manage day-to-day operations in India, with support from London-
based partner Rohan Haldea.
About Apax Partners LLP :
● Founded : 1972
● Headquarters : London, England
Anita Sudhir Pai and Neeta Mukerji Appointed as Independent Directors at Fino Payments Bank
● Fino Payments Bank has appointed Anita Sudhir Pai and Neeta Mukerji as Additional Directors in
the capacity of Independent Directors on its board.
● With these appointments, the bank's board now comprises 3 women directors.
● Deena Mehta is already serving as an Independent Director on the board.
● The addition of Anita Sudhir Pai and Neeta Mukerji ensures that one-third of the bank's board
consists of women directors, out of a total board strength of 8 members.
About Fino Payments Bank :
● Started operations ; 2017
.
● MD & CEO : Rishi Gupta

● Fino Payments Bank is a wholly-owned subsidiary of Fino Paytech Limited (FPL).
● It is currently the highest profit-generating payments bank.
Election Commissioner Arun Goel Steps Down before Lok Sabha Elections
● Election Commissioner Arun Goel resigned just days before the anticipated announcement of the
schedule for the 2024 Lok Sabha elections.
● President Droupadi Murmu officially accepted Mr Goel's resignation, effective immediately.
● The Election Commission of India, consisting of 3 members, already had a vacant position, and
now, only Chief Election Commissioner Rajiv Kumar remains on the poll panel.
● Arun Goel, a retired bureaucrat and a 1985-batch Indian Administrative Service (IAS) officer of
the Punjab cadre, joined the Election Commission in November 2022.
● Legislation Guiding Appointment : The Chief Election Commissioner and Other Election
Commissioners (Appointment, Conditions of Service and Term of Office) Act, 2023 will be used
to fill the current vacancies in the Election Commission according to its provisions.
● The Election Commission is a permanent and independent body.
● Article 324(2) says appointment of CEC and other ECs shall be subject to provisions of any law
made by the Parliament.
● Now, the Chief Election Commissioner and Other Election Commissioners (Appointment,
Conditions of Service and Term of Office) Act, 2023 guides the appointment of election
commissioners.
● They have tenure of 6 years, or up to the age of 65 years, whichever is earlier.
Former Bureaucrats Gyanesh Kumar and Sukhbir Singh Sandhu Named as Election Commissioners
● In exercise of powers conferred by section 4 of the Chief Election Commissioner and other
Election Commissioners (Appointment, Conditions of Service and Term of Office) Act, 2023 (Act
No. 49 of 2023), the President is pleased to appoint Shri Gyanesh Kumar, Indian Administrative
Service (IAS) (Retd.) and Dr. Sukhbir Singh Sandhu, IAS(Retd.) as Election Commissioners in
the Election Commission of India (ECI).
● The appointments were made to fill vacancies in the Election Commission following the
retirement of Anup Chandra Pandey on February 14 and the resignation of Arun Goel on March
8.
.
● The poll panel is headed by Chief Election Commissioner Rajiv Kumar.

● The Election Commission is expected to announce the schedule for the April- May Lok Sabha
polls on one of these days.
About Election Commission of India (ECI) :

● Founded : 25 January 1950
● Headquarters : New Delhi, Delhi
● The ECI is a constitutional body. It was established by the Constitution of India to conduct and
regulate elections in the country.
● Article 324 of the Constitution provides that the power of superintendence, direction, and control
of elections to parliament, state legislatures, the office of the president of India, and the office of
vice-president of India shall be vested in the election commission.
LinkedIn's India Head Ashutosh Gupta Resigns from Position
● Ashutosh Gupta, Country Manager for India & APAC Head of Online Sales for LinkedIn
Marketing Solutions, has decided to leave the company at the end of April 2024 to take a career
break before taking on new roles.
● India is the second-largest market for LinkedIn after the United States, with around 120 million
members in the country.
Madhu Nair Named Chief Executive Officer of Union Asset Management Company
● Union Asset Management Company Private Limited has appointed Madhu Nair as the Chief
Executive Officer (CEO).
● He will replace G Pradeepkumar who tendered his resignation after 14 years of service.
Rashmi Govil Appointed as Indian Oil Corporation's Director of Human Resources

● Rashmi Govil has taken charge as Director (Human Resources) at Indian Oil Corporation Limited
(IndianOil).
● With this elevation, Indian Oil now has 2 women functional directors on its Board.
● Sukla Mistry, Director (Refineries), is another director on the board and has a total of 7 functional
directors.
About Indian Oil Corporation Limited :
● Founded : 30 June 1959
.

● Chairman ; Shrikant Madhav Vaidya
● IOCL is an Indian oil and gas company under the ownership of the Ministry of Petroleum and
Natural Gas, Government of India (GoI).
B Sairam Assumes Role of the New Chairman and Managing Director of Northern Coalfields Limited
● B Sairam has been appointed as the new Chairman and Managing Director (CMD) of Northern
Coalfields Limited (NCL), the flagship subsidiary of Coal India Limited based in Singrauli.
● Before he was appointed as CMD of NCL, Sairam served as Director (Technical) at Central
Coalfields Limited in Ranchi.
About Northern Coalfields Limited (NCL) :
● Northern Coalfields Limited operates 10 highly mechanized mines in the Singrauli and
Sonebhadra Districts of Madhya Pradesh (MP) and Uttar Pradesh (UP), respectively.
● The company is targeting over 135 million tonnes of coal production and dispatch in the fiscal
year 2023-24.
Senior bureaucrat Rahul Singh appointed as the new Central Board of Secondary Education Chief
● A 1996-batch Indian Administrative Service (IAS) officer of the Bihar cadre, Rahul Singh has
been appointed chairperson of the Central Board of Secondary Education (CBSE), as part of a
senior-level bureaucratic reshuffle effected by the Centre.
● He will succeed Nidhi Chhibber, who has been named Advisor in the Niti Aayog.
● Currently, Rahul Singh is the Additional Secretary, Department of Personnel and Training
(DoPT).
Other Appointments :
● Nidhi Chhibber will be advisor, NITI Aayog in the rank and pay of Additional Secretary by
temporarily upgrading the post and extending her central deputation tenure by one year beyond
March 24, 2024
● A.P. Das Joshi, a 1994-batch IAS officer of the Assam-Meghalaya cadre, will replace Rahul
Singh as the Additional Secretary in the DoPT.
● Rajeev Kumar Mital, who was serving as Additional Secretary and Financial Advisor in the
Department of Atomic Energy, has been appointed as the Director General of the National
Mission for Clean Ganga under the Ministry of Jal Shakti.
.
● Gyanesh Bharti will assume the role of Additional Secretary in the Ministry of Women and Child
Development.
● Deepak Narain has been appointed as the Additional Secretary and Financial Advisor in the
Ministry of Information and Broadcasting.
About CBSE :
● Established : 2 July 1929
● Headquarters : New Delhi, Delhi, India
● The CBSE is a national level board of education in India for public and private schools, controlled
and managed by the Government of India (GoI).
Double Paralympics Gold Medalist Devendra Jhajharia Elected Unopposed as President of Paralympic
Committee of India
● Two-time Paralympics gold medallist Devendra Jhajharia was elected unopposed as the
Paralympic Committee of India (PCI) president, succeeding another celebrated para-athlete
Deepa Malik whose term ended on 31st January 2024.
● Jayawant Hammanawar, an international coach and referee from Goa, was elected unopposed
as the secretary general.
● R. Chandrashekhar and Satya Prakash Sangwan will be the two vice-presidents.
Former Bureaucrat Navneet Kumar Sehgal Named as the New Chairman of Prasar Bharati
● Breaking a four-year vacancy, the Indian government has appointed Navneet Kumar Sehgal, a
retired bureaucrat, as the new Chairman of Prasar Bharati, the country's public service
broadcaster.
● The Information & Broadcasting Ministry states that Sehgal’s term will last for 3 years or until he
reaches the age of 70, whichever comes earlier.
● The chairperson’s post has been vacant since A Surya Prakash reached the mandatory
retirement age of 70 in February 2020.
About Prasar Bharati :
● Prasar Bharati is India’s largest public broadcasting agency.
● It was established by the Prasar Bharati Act of 1990, which came into effect in 1997.
● Prasar Bharati oversees the operations of Doordarshan, the national television network, and All
.
India Radio, the national public radio broadcaster.
Government Names Sheyphali B Sharan as New Spokesperson Effective April 2024

● According to an order issued by the ministry of information and broadcasting, the government
has appointed a 1990-batch Indian Information Service (IIS) officer, Sheyphali B Sharan as its
new spokesperson.
● Sharan, will take charge as principal director general (PDG) of the Press Information Bureau
(PIB) after incumbent PDG Manish Desai’s tenure ends on 31 March, 2024.
Note :
● Sharan will be the 1st woman officer to head the PIB since the Modi government first came into
power in 2014.
● She is the 5th woman officer to head the PIB after Neelam Kapur, Deepak Sandhu, Shakuntala
Mahawal and N J Krishna.
Other Appointment :
● Maushami Chakraborty has been appointed director general of All India Radio (AIR), the public
news broadcaster.
● Chakraborty, a 1991-batch IIS officer, will take charge in April, replacing Vasudha Gupta.
Governor of Telangana and Lieutenant Governor of Puducherry, Tamilisai Soundararajan, Resigns to

Contest Lok Sabha Polls
● Telangana Governor and Puducherry Lieutenant-Governor Tamilisai Soundararajan resigned
from both posts.
● It has been learnt that the BJP Tamil Nadu leader Soundararajan is likely to contest in the
upcoming Lok Sabha elections.
● She is likely to contest the high-stakes polls from Chennai South constituency in Tamil Nadu.
About Appointment of Governors :
● Constitutional Provision: Article 153 of the Indian Constitution mandates the presence of a
Governor for each state in India.
Appointment Process:
● Article 155 stipulates that the President appoints the Governor of a State through a warrant under
his hand and seal.
● Under Article 156, the Governor holds office at the pleasure of the President, indicating no
.
security of tenure.
● Qualifications and Tenure:Article 157 specifies that only Indian citizens above 35 years of age
are eligible for appointment as Governor.
● Governors are appointed for a term of 5 years, subject to the pleasure of the President.
● Functions:Article 163 states that the Governor is normally aided and advised by the Council of
Ministers in the exercise of his functions, except in matters requiring his discretion.
● Article 164 outlines the process of appointing the Chief Minister and other Ministers, who hold
office at the pleasure of the Governor.
Lupin appoints Christoph Funke as Chief Technical Operations Officer

● Lupin, a global pharmaceutical company, has appointed Christoph Funke to the newly-created
position of Chief Technical Operations Officer.
● Based in Mumbai, he will oversee Lupin's Technical Operations function, which includes
integrating manufacturing, supply chain, and procurement activities.
About Lupin Limited :
● Founded : 1968
● CEO : Vinita D. Gupta
Kotak Mahindra Bank Names Jaideep Hansraj from Kotak Securities as Group President – One Kotak
● Kotak Mahindra Bank announced that the board of directors have approved the appointment of
Jaideep Hansraj, currently Managing Director (MD) of Kotak Securities Limited (KSL), a wholly-
owned subsidiary of the Bank, as Group President - One Kotak.
● The term 'One Kotak' refers to the bank's internal framework aimed at fostering inter-group
synergies and cross-selling opportunities.
● New Role for Jaideep Hansraj: In his new role, Jaideep Hansraj will serve as a Senior
Management Personnel of the bank, indicating a promotion within the organization.
● Shripal Shah, currently the Chief Operating Officer of KSL, will take over as the Managing
Director of KSL, with effect from April 1, 2024 or the date after the receipt of statutory/ regulatory
approvals as required.
Jharkhand Governor C.P. Radhakrishnan Assumes Additional Charge of Telangana and Puducherry
.
● The President of India Smt Droupadi Murmu has appointed C P Radhakrishnan, the current
Governor of Jharkhand, to discharge the duties of the Governor of Telangana and Lieutenant
Governor of Puducherry, in addition to his existing responsibilities, until further arrangements are
made.
● This decision follows the acceptance of the resignation of Dr Tamilisai Soundararajan from the
positions of Governor of Telangana and Lieutenant Governor of Puducherry.
● Radhakrishnan is the 3rd person from Tamil Nadu to occupy the post of governor in Telangana
for a consecutive term, the first one being ESL Narasimhan, who was followed by Tamilisai
Sounderarajan.
Apollo Hospitals appoints Dr. Madhu Sasidhar as President & Chief Executive Officer of the Hospital
Division
● Apollo Hospitals and Enterprises Limited. (AHEL) has re-designated its Chief Strategy Officer
Madhu Sasidhar as President and Chief Executive Officer (CEO) of its hospital division from April
1, 2024.
● This appointment is part of a planned transition that commenced in October 2023.
● Dr. Madhu Sasidhar's appointment comes as K. Hari Prasad, the outgoing President of Apollo
Hospitals, retires from his position on March 31, 2024, after a 27-year career at Apollo.
Responsibilities:
● In his new role, Dr. Madhu will oversee Apollo Hospitals' hospital business.
● He will focus on maintaining the delivery of the best clinical outcomes and enhancing the patient
care and experience, which are hallmarks of Apollo Hospitals.
● Prior to joining Apollo, Dr. Madhu had held various roles at Cleveland Clinic, including President
of Cleveland Clinic Tradition Hospital.
About Apollo Hospitals Enterprise Limited :
● Founded : 18 September 1982
● Founder & Chairman : Prathap C. Reddy
Procter & Gamble India Appoints Kumar Venkatasubramanian as new Chief Executive Officer
● Packaged consumer goods maker Procter & Gamble India has appointed Kumar
.
Venkatasubramanian as the company's new chief executive officer, effective 1 May 2024.
● Venkatasubramanian will succeed LV Vaidyanathan, who is leaving the company to pursue other
interests after 28 years of service to P&G, the maker of Ariel, Tide, Whisper, Olay, and Gillette
brands.
About Procter & Gamble :
● Founded : October 31, 1837
● Headquarters : Cincinnati, Ohio, United States
Microsoft Appoints Mustafa Suleyman as Chief of Artificial Intelligence

● Mustafa Suleyman, a prominent figure in the Artificial Intelligence (AI) and technology sphere,
has been appointed to lead a new group at Microsoft, overseeing all consumer AI initiatives,
including the Copilot chatbot.
● The new unit will focus on advancing Copilot and other consumer AI products and research at
the company.
Union Minister Kiren Rijiju Assumes Additional Responsibility as Minister of Food Processing Industries
Following Pashupati Kumar Paras' Resignation from the Union Cabinet
● According to a Rashtrapati Bhavan notification, Union Minister Kiren Rijiju was given additional
charge of the Ministry of Food and Processing Industries following the resignation of Pashupati
Kumar Paras from the Union Council of Ministers.
● The President of India, upon the advice of the Prime Minister, has accepted the resignation of
Pashupati Kumar Paras from the Union Council of Ministers under clause (2) of Article 75 of the
Constitution.
● President Droupadi Murmu assigned Kiren Rijiju to the Ministry of Food Processing Industries, in
addition to his current portfolio at the Ministry of Earth Sciences.
SoftBank India Promotes Sarthak Misra to Partner Position

● SoftBank India has promoted Sarthak Misra, who previously served as an investment director, to
the position of partner.
● In his new role, Misra will continue to report to Sumer Juneja, who serves as the managing
partner for India & EMEA at SoftBank, overseeing the fund’s operations in India and Europe.
.
Meesho's CXO Harsh Chaudhary Resigns, Joins Flipkart

● E-commerce major Meesho’s CXO of monetisation, Harsh Chaudhary, has quit the firm to join
Flipkart.
● Chaudhary exited the firm after a stint of two years, where he led the advertising and financial
services verticals.
● At Flipkart, Chaudhary is the Vice-President (VP) of Customer where he will lead customer
growth including acquisition and retention of users.
● Chaudhary will also run Flipkart’s video commerce unit.
Indian Sugar & Bio-energy Manufacturers Association Appoints Deepak Ballani as New Director
General
● The Indian Sugar & Bio-energy Manufacturers Association (ISMA) has named Mr. Deepak
Ballani as its new Director General.
● Before joining ISMA, he served as the Director General of The All India Plastics Manufacturers
Association.
● In this role, he was responsible for policy advocacy, government relations management, and
foreign partner management.
About ISMA :
● Founded : 1932
Central Bank of India chief executive M V Rao elected as Chairman of Indian Banks’ Association
● During the IBA’s managing committee meeting, the Indian Banks’ Association (IBA) has elected
M V Rao, Managing Director (MD) and Chief Executive Officer (CEO) of the Central Bank of
India, as its new Chairman for the term 2023-24.
● Rao will replace Atul Goel, MD & CEO of Punjab National Bank
● Dinesh Kumar Khara, Chairman of State Bank of India (SBI), will continue as one of the three
Deputy Chairman of IBA.
● Meanwhile, Indian Bank Managing Director and Chief Executive SL Jain, and City Union Bank
Managing Director and Chief Executive N Kamakodi are elected as the other two deputy
chairmen of the lobby group.
.
● Madhav Nair, Country Head and CEO, Bank of Bahrain and Kuwait, would be Honorary
Secretary of the Association.
About IBA :
● The IBA, formed on (26 September 1946), is an unregistered, voluntary association of like-
minded banks and individuals in India, an representative body of Indian banks and financial
institutions based in Mumbai.
Naveen Jindal Assumes Presidency of the Indian Steel Association

● Naveen Jindal, Chairman of Jindal Steel and Power, has been unanimously elected as the
President of the Indian Steel Association (ISA) by the apex committee, which is the governing
body of the ISA.
● He succeeds Dilip Oommen, CEO of ArcelorMittal Nippon Steel India.
● Role and Responsibilities : As President of the ISA, Naveen Jindal will be responsible for shaping
the policies and strategies for the Indian steel industry.
About ISA :
● ISA serves as the apex body representing the interests of Indian steel producers.
● It plays a crucial role in promoting the growth and development of the steel industry in India and
addressing sector-related challenges.
Nandini Assumes Chairperson Role as New Office Bearers Announced for CII Southern Region 2024-
25
● R Nandini, Managing Director (MD), Chandra Textiles Private Limited, has taken over as the
Chairperson of CII Southern Region for the year 2024-25.
Other Appointment :
● Thomas John Muthoot, Chairman & Managing Director, Muthoot Fincorp Limited, has taken over
as the Deputy Chairman of CII Southern Region for 2024-25.
Nissan Motor India Appoints Saurabh Vatsa as Managing Director

● Nissan Motor India has elevated its Deputy Managing Director (DMD ) Saurabh Vatsa as
Managing Director from April 1, 2024 as the present incumbent Rakesh Srivastava retires on
March 31, 2024.
● Earlier, Mr. Vatsa was appointed as DMD on January 15, 2024.
.
● As Managing Director, Saurabh Vatsa will report to Frank Torres, who serves as the President of
Nissan India Operations and Region Divisional Vice President of Business Transformation
(AMIEO).
About Nissan Motor India :
● Founded : 2005
● Headquarters : Chennai, Tamil Nadu
● Nissan Motor India Pvt Ltd is the Indian subsidiary of Nissan Motor Company of Japan.
Financial Services Institutions Bureau Appoints Girija Subramanian and Bhupesh Sushil Rahul as
Chairman and Managing directors of New India Assurance and United India Insurance
● The Financial Services Institutions Bureau (FSIB), the head-hunting agency for public sector
banks and insurance firms, has selected Girija Subramanian as chairman and managing director
(CMD) of the New India Assurance Company and Bhupesh Sushil Rahul as CMD of United India
Insurance Company.
● The post of CMD at United India Insurance has been vacant since February 2024 following the
retirement of Satyajit Tripathy.
● Neerja Kapur's tenure as CMD of New India Assurance is scheduled to conclude in April 2024.
● Girija Subramanian is currently the CMD of the Agriculture Insurance Company of India, and B S
Rahul serves as the general manager at the same company.
About New India Assurance Company ;
● Founded : 23 July 1919
● It is an Indian public sector insurance company owned by the Government of India and
administered by the Ministry of Finance.
About United India Insurance Company :
● Founded : 18 February 1938
Simon Harris Poised to Become Ireland's Youngest Prime Minister

● Simon Harris, a prominent figure in Irish politics, has become the sole candidate in the race to
become Ireland’s next prime minister following the unexpected departure of Leo Varadkar.
● At 37 years old, Harris is set to become the youngest prime minister in Ireland’s history.
.
● Harris's candidacy comes at a crucial time for the governing Fine Gael party, which faces the
threat of defeat in the upcoming general elections, with Sinn Fein emerging as a strong
contender for government leadership.
Mariam Mammen Mathew Assumes the Chairmanship of Digital News Publishers Association; Puneet
Gupt Appointed Vice-Chairman
● Mariam Mammen Mathew, Chief Executive Officer (CEO), Manorama Online, has been
appointed chairperson of Digital News Publishers Association (DNPA) for two years from April 1,
2024.
● She would succeed Tanmay Maheshwari, Managing Director, Amar Ujala.
● Puneet Gupt, the Chief Operating Officer (COO) of Times Internet, has been appointed as the
new vice-chairman of DNPA.
● Puneet Jain, the CEO of Digital HT Media, continues in his role as the treasurer of DNPA.
About DNPA :
● DNPA, serving as an umbrella organisation for the digital arms of media companies, has been
proactive in ensuring equality and fairness for all news publishers.
● It represents 18 prominent media organisations, including Dainik Jagran, Dainik Bhaskar, The
Indian Express, and others.
About Manorama Online:
● Manorama Online is the digital arm of Malayala Manorama, one of India's largest and oldest
media houses.
● Malayala Manorama operates in various media formats including print, television, radio, and
digital properties.
Boeing Chief Executive Officer Dave Calhoun to Depart by End of 2024 Amid Safety Crisis
● Embattled aerospace giant Boeing Chief Executive officer (CEO) Dave Calhoun will step down at
the end of 2024.
● Additionally, board chairman Larry Kellner will leave after Boeing's annual meeting in May.
● Stan Deal, the president and CEO of Boeing Commercial Airplanes, has resigned with immediate
effect.
● Steve Mollenkopf, a Boeing director, will replace Larry Kellner as board chairman.
.
● Additionally, Stephanie Pope, Boeing's Chief Operating Officer, will take over Stan Deal's
position as CEO of Boeing Commercial Airplanes.
● Reasons for Changes: The leadership changes come amidst escalating customer frustration with
Calhoun and Deal, particularly following safety incidents such as a fuselage panel blowing out of
an airborne 737 Max in January 2024.
About Boeing :
● Founded : July 15, 1916
● Headquarters : Arlington, Virginia, United States
Vinay Kumar Appointed as India's New Ambassador to Russia by Ministry of External Affairs
● Vinay Kumar, a seasoned diplomat who served as India’s envoy in hotspots such as Afghanistan
and Myanmar in recent years, was named as the new ambassador to Russia.
● He will replace Pavan Kapoor, appointed the new secretary (West) in the external affairs ministry,
in Russia.
IIT Alumnus Pavan Davuluri to Assume Leadership Role for Microsoft Windows and Surface
● Microsoft has made a strategic move by reuniting its Windows and Surface teams under a single
leadership, marking a return to a familiar structure within the company's Engineering and Devices
organization.
● This decision comes after a brief separation, during which the Windows team was temporarily
aligned with Microsoft's new AI division.
● Pavan Davuluri, an IIT Madras alumni, was appointed the new head of Microsoft Windows and
Surface, making him the latest Indian to take on a leadership role at a Big Tech company much
like Google's Sundar Pichai and Microsoft's Satya Nadella
● Mr Davuluri takes over from longtime product chief Panos Panay who left the department to join
Amazon last year.
● In his new role, Davuluri will lead a dedicated team that develops silicon systems for Microsoft's
Windows and Surface products.
● Davuluri, who previously oversaw Microsoft's hardware initiatives, will now take on the additional
responsibility of leading Windows engineering.
Senior IPS Officer Sadanand Vasant Date Appointed As Director General Of National Investigation
.
Agency
● 1990-batch Indian Police Service (IPS) officer Sadanand Vasant Date has been appointed as the
Director General of the National Investigation Agency (NIA).
● He is currently serving as Chief of Maharashtra Anti-Terrorism Squad (ATS).
● The Appointments Committee of the Cabinet (ACC) has approved the appointment of Date as
the Director General (DG) of the NIA for a tenure up to his superannuation on December 31,
2026.
● He will succeed Dinkar Gupta, who is due to superannuate on March 31, 2024.
● Rajeev Kumar Sharma, a 1990-batch IPS officer of the Rajasthan cadre, has been named DG of
BPR&D, serving until his superannuation on June 30, 2026, or until further orders.
● Sharma will succeed Balaji Srivastava, who completes his tenure at March end.
● Piyush Anand, a 1991-batch IPS officer of the Uttar Pradesh cadre and currently serving as
Special DG in the Central Industrial Security Force (CISF), has been appointed Director General
of the National Disaster Response Force (NDRF) for a period of 2 years.
● The ACC also appointed S Suresh, a 1995-batch IPS officer of Kerala cadre, as the Additional
Director General of the Special Protection Group (SPG)
About NIA :
● The National Investigation Agency (NIA) is a specialised counter-terrorism law enforcement
agency in India.
● The agency is empowered to deal with the investigation of terror related crimes across states
without special permission from the states under written proclamation from the Ministry of Home
Affairs.
● The agency came into existence with the enactment of the National Investigation Agency Act
2008 by the Parliament of India on 31 December 2008, which was passed after the deadly 26/11
terror attack in Mumbai.
Centre for Policy Research Chief Yamini Aiyar Resigns Amid Foreign Contribution Regulation Act
Investigation
● Two months after the Centre for Policy Research (CPR) received a final order cancelling its
licence under the Foreign Contribution Regulation Act (FCRA), the chief executive of the think-
tank, Yamini Aiyar, will step down from her current role “to devote more time to her research
.
interests”.
● The board also announced the appointment of Srinivas Chokkakula, CPR senior fellow and
Ministry of Jal Shakti Research Chair, as the president and Chief Executive.
● He will step into the role effective April 1, 2024.
About CPR :
● The CPR is one of the country’s premier public policy think-tanks, and has seen its fortunes
reversed since September 2022 when it was subjected to a survey by the Income Tax
Department.
● It is one of the national social science research institutes recognized by the Indian Council of
Social Science Research (ICSSR).
Nidhu Saxena Named Managing Director & Chief Executive Officer of Bank of Maharashtra
● The Ministry of Finance (MoF), appointed Nidhu Saxena as Managing Director and Chief
Executive Officer (MD & CEO) of Bank of Maharashtra (BoM) for 3 years.
● Saxena is currently Executive Director of Union Bank of India, he will be replacing AS Rajeev
upon his selection as Vigilance Commissioner in Central Vigilance Commission, for 3 years.
About BoM :
● Established : 16 September 1935
● Headquarters : Pune, Maharashtra
● Tagline : One Family One Bank
● Bank of Maharashtra is a public sector bank in India.
● The Government of India held 86.46% stake in the bank as of 30 September 2023.
Pankaj Dwivedi Assumes Position of Executive Director at Union Bank of India

● Pankaj Dwivedi has taken charge as an Executive Director (ED) at Union Bank of India (UBI).
● With his appointment, the total number of Executive Directors at UBI has increased to 4.
● Besides Pankaj Dwivedi, the other Executive Directors at UBI are Nitesh Ranjan,
Ramasubramanian S, and Sanjay Rudra.
● Before joining UBI, Dwivedi was General Manager in Punjab & Sind Bank (P&SB).
About Union Bank of India:
.
● Established: 1919
● Headquarters: Mumbai, Maharashtra
● CEO: A. Manimekhalai
● Tagline: Good People to Bank with
Opposition Leader Bassirou Diomaye Faye Named President-Elect in Senegal Election

● Bassirou Diomaye Faye, the opposition leader in Senegal, is set to become the next President of
the country.
● Faye will become Africa’s youngest elected president.
● It was the fourth democratic transfer of power in Senegal since it gained independence.
About Senegal :
● Senegal got independence from France in 1960.
● Senegal is the westernmost country in continental Africa. Its capital is Dakar.
ACQUISITIONS & MERGERS

Zurich Insurance to Acquire 70% Stake in Kotak Arm Immediately in Revised Agreement
 Zurich Insurance Group will buy a 70% stake in Kotak Mahindra Bank's general insurance arm by
paying 55.60 billion rupees (nearly $671 million) upfront instead of staggering the purchase as
planned last year.
 Revised Deal Terms:The original agreement, announced in November of the previous year,
outlined Zurich's acquisition of a 51% stake in the Kotak unit for 40.51 billion rupees.
About Zurich Insurance Group :
 Founded : 1872
 Headquarters : Zürich, Switzerland
 Chairman : Michel Liès
 CEO : Mario Greco
RBI Sanctions Amalgamation of Fincare Small Finance Bank Limited with AU Small Finance Bank
Limited
 The Reserve Bank of India (RBI) has sanctioned the Scheme of Amalgamation of Bangalore,
Karnataka-based Fincare Small Finance Bank Limited. (Transferor Bank) with Jaipur, Rajasthan
headquartered AU Small Finance Bank Ltd. (Transferee Bank).
.
 The Scheme has been sanctioned in exercise of the powers contained in sub-section (4) of Section
44A of the Banking Regulation Act, 1949.
 The effective date of the amalgamation shall be April 01, 2024.
Singapore Competition Authority Grants Conditional Approval for Air India-Vistara Merger
 The Competition and Consumer Commission of Singapore (CCCS) has granted conditional
approval for the proposed merger between Air India and Vistara.
 This approval was a crucial step in the merger process.
 Timing of Approval: The approval comes more than a year after the initial announcement of the
merger deal, highlighting the duration and complexity of the regulatory process involved in such
transactions.
 Deal Structure: Under the terms of the deal, Singapore Airlines will acquire a 25.1% stake in Air
India as part of the merger with Vistara.
About Vistara :
 Founded : 2013 (Commenced Operations : 9 January 2015)
 Headquarters : Gurgaon, Haryana, India
 CEO : Vinod Kannan
 Vistara is a joint venture between Singapore Airlines and Tata Group and is set to merge with Air
India under this agreement.
Competition Commission of India (CCI) Greenlights Ring Plus Aqua Limited's Acquisition of 59.25%
Stake in Maini Precision Products Limited (MPPL)
 The Competition Commission of India (CCI) has approved the transaction inter alia envisaging the
acquisition of 59.25% shareholding in Maini Precision Products Limited (MPPL) by Ring Plus Aqua
Limited (RPAL).
 The proposed combination inter alia envisages the acquisition of 59.25% shareholding in MPPL by
RPAL, the acquisition of the entire shareholding of JK Files & Engineering Limited (JK Files) in JK
Talabot Limited (JKTL) by a wholly owned subsidiary of Raymond Limited (New Company), and
merger of RPAL, MPPL and the engineering business of JK Files into the New Company.
About CCI :
 Established : 14 October 2003
 Headquarters : New Delhi, Delhi, India
.
 Chairman : Ravneet Kaur

 The CCI is the chief national competition regulator in India.
 It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Competition Act, 2002 to promote competition and prevent activities that have an appreciable
adverse effect on competition in India.
Competition Commission of India Clears Merger of Financial Technology Firm, Garagepreneurs Internet
Private. Limited., with North East Small Finance Bank
● The Competition Commission of India (CCI) has approved the merger of a financial technology
company, Garagepreneurs Internet Private Limited (GIPL) with the North East Small Finance
Bank (NESFB).
● The proposed merger involves Garagepreneurs Internet Private Limited (GIPL), which includes
Quadrillion Finance Private Limited (QFPL) and Intergalactory Foundry Private Limited (IFPL),
merging with North East Small Finance Bank Limited (NESFB), which includes RGVN (North-
East) Microfinance Limited (RGVN).
● NESFB is a private sector small finance bank (SFB).
● It is headquartered in Guwahati, Assam and has branches in the North Eastern states (Arunachal
Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, and Sikkim), and West
Bengal.
About CCI :
● Established : 14 October 2003
● Headquarters : New Delhi
● Chairman : Ravneet Kaur
● The CCI is the chief national competition regulator in India.
● It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Japan’s SoftBank Group Cuts Stake in Paytm to 2.83% from 5.01%

● Japan's SoftBank Group has further reduced its stake in payments firm Paytm to 2.83% from
5.01%.
● The conglomerate, which held a 17.5% stake in Paytm in September 2022, has trimmed its
.
ownership for more than a year through multiple open market deals, with its most recent cut
being in January.
CCI Greenlights UltraTech Cement Limited's Acquisition of Kesoram Cement Business from Kesoram
Industries Limited
● The Competition Commission of India (CCI) has approved the acquisition of Kesoram Cement
Business from Kesoram Industries Limited by UltraTech Cement Limited.
● The proposed combination involves UltraTech Cement Limited acquiring the grey cement
business of Kesoram Industries Limited.
● This acquisition is facilitated through a composite scheme of arrangement dated November 30,
2023, under Sections 230 to 232 of the Companies Act, 2013 (Scheme), as well as an
Implementation Agreement dated November 30, 2023 (Proposed Combination).
Competition Commission of India Clears Shriram Ownership Trust's Acquisition of Stake in Shriram
Investment Holdings Private Limited
● The Competition Commission of India (CCI) has approved the proposed acquisition of certain
shareholding of Shriram Investment Holdings Private Limited (SIHL) by Shriram Ownership Trust
(SOT).
● SOT intends to acquire a 9.44% stake from APRN Enterprises Private Limited (APRN) and a
20% stake from Piramal Enterprises Limited (PEL) in SIHL.
● This acquisition aims to increase SOT's and Shriram Capital Limited (SCPL) combined holding in
SIHL to 100%.
● SIHL is described as an unregistered core investment company with significant financial figures,
including a standalone asset size of Rs. 3,976 crore and a turnover of Rs. 1,881 crore as of
March 31, 2023.
About CCI :
● Established : 14 October 2003
● Headquarters : New Delhi
● Chairman : Ravneet Kaur
● The CCI is the chief national competition regulator in India.
● It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
.
6 Asset Reconstruction Companies Secure 55% of KSK Mahanadi Power's ₹29,330 Crore Debt
● Six asset reconstruction companies (ARCs), including Aditya Birla and Kotak Mahindra-backed
ARCs, have accumulated 55% of KSK Mahanadi Power's ₹29,330-crore debt from lenders in
separate transactions.
● Purpose of Acquisition: The ARCs acquired the debt with the expectation of potential demand for
thermal power companies, anticipating a significant upside.
● This acquisition occurred due to lenders' exit from the company after facing over a four-year
delay in its debt resolution process.
● Prudent ARC's Acquisition: In a recent deal, Prudent ARC acquired ₹156 crore of debt from
Punjab & Sind Bank (PSB) through an unchallenged Swiss auction, amounting to an all-cash
deal of ₹125 crore.
● Prudent ARC already holds ₹914 crore in admitted claims in KSK Mahanadi Power following
previous debt acquisitions.
● ARC Debt Holdings: Aditya Birla ARC holds the largest share of 33.38% in claims from KSK
Mahanadi Power among all ARCs involved.
● This is followed by ASREC (India) Ltd with 11.98%, Prudent ARC with 3.82%, Kotak Mahindra
Bank Phoenix ARC with 2.92%, Rare ARC with 2.10%, and Asset Reconstruction Company of
India (Arcil) with 0.98%.
What are ARCs?
● Asset Reconstruction Companies (ARCs) are specialized financial institutions dedicated to
managing Non-Performing Assets (NPAs) in the banking sector.
● Objective: To acquire and effectively manage distressed assets acquired from banks and
financial institutions.
● Legal Basis: ARCs operate under the legal framework provided by the Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
About SARFAESI Act, 2002 :
● The SARFAESI Act,2002 is a crucial piece of legislation designed to empower banks and
financial institutions in India to effectively recover bad loans.
AWARDS AND HONOURS

OLA Electric Technologies Pvt. Ltd. receives the First PLI- Automotive Certificate from ICAT, Manesar.
.
 International Centre for Automotive Technology (ICAT), Manesar, one of the divisions of the
National Automotive Board (NAB)- under the Ministry of Heavy Industries (MHI), Govt. of India has
awarded its first PLI – Automotive Certificate to M/s. Ola Electric Technologies Pvt. Ltd. under the
Production Linked Incentive (PLI) Scheme of MHI for Automobiles and Auto Components.
 The certificate was handed over by Dr. Hanif Qureshi, Additional Secretary - MHI to Dr. S.J.
Dhinagar, Head of Engineering & Sr. VP- Ola Electric, in the presence of Shri Saurabh Dalela,
Director-ICAT & senior officials from MHI, ICAT and M/s. Ola Electric.
Yatin Bhaskar Duggal from Haryana Wins First Prize in National Youth Parliament Festival 2024
 Yatin Bhaskar Duggal from Haryana won the first prize in the National Youth Parliament Festival,
2024, while Vaishna Pitchai from Tamil Nadu won the second prize and Kanishka Sharma from
Rajasthan the third prize.
 Eighty-seven State-level winners assembled in New Delhi for the finals in the Youth Parliament.
 Lok Sabha Speaker Om Birla emphasized the importance of youth in India’s progress towards
becoming a ‘Viksit Bharat’ by 2047, highlighting their thinking capability, innovation, and work ethic.
He stressed India’s role in leading the world.
Oscars 2024: The complete list of winners at the 96th Academy Awards
 The 96th Academy Awards ceremony, which was presented by the Academy of Motion Picture
Arts and Sciences, took place on March 10, 2024, at the Dolby Theatre in Hollywood, Los Angeles.
 During the gala, the AMPAS presented Academy Awards in 23 categories honoring films released
in 2023.
 The following is a complete list of Oscar winners at the 96th Academy Awards
Category Winner
Best Actor CILLIAN MURPHY
(Oppenheimer)
Best Actress EMMA STONE (Poor

Things)
.
Best Director OPPENHEIMER

(Christopher Nolan)
Best Picture OPPENHEIMER

(Emma Thomas,
Charles Roven and
Christopher Nolan,
Producers)
Best Supporting Actor ROBERT DOWNEY

JR. (Oppenheimer)
Best Supporting Actress DA'VINE JOY

RANDOLPH
(The Holdovers)
Best Original Screenplay ANATOMY OF A FALL

(Screenplay - Justine
Triet and Arthur Harari)
Best Animated Short WAR IS OVER!

INSPIRED BY THE
MUSIC OF JOHN &
YOKO
(Dave Mullins and Brad
Booker)
Best Animated Feature THE BOY AND THE

HERON
(Hayao Miyazaki and
Toshio Suzuki)
.
Best Adapted Screenplay AMERICAN FICTION

(Written for the screen
by Cord Jefferson)
Best Documentary Short THE LAST REPAIR

SHOP
(Ben Proudfoot and
Kris Bowers)
Best Documentary 20 DAYS IN

Feature MARIUPOL
(Mstyslav Chernov,
Michelle Mizner and
Raney Aronson-Rath)
Best International THE ZONE OF

Feature INTEREST
(United Kingdom)
Best Original Song WHAT WAS I MADE

FOR?
(from Barbie; Music and
Lyric by Billie Eilish and
Finneas O'Connell)
Best Original Score OPPENHEIMER

(Ludwig Göransson)
Best Cinematography OPPENHEIMER

(Hoyte van Hoytema)
Best Sound THE ZONE OF
.
INTEREST
(Tarn Willers and
Johnnie Burn)
Best Makeup and Hair POOR THINGS

Styling (Nadia Stacey, Mark
Coulier and Josh
Weston)
Best Costume Design POOR THINGS

(Holly Waddington)
Best Visual Effects GODZILLA MINUS

ONE
(Takashi Yamazaki,
Kiyoko Shibuya, Masaki
Takahashi and Tatsuji
Nojima)
Best Film Editing OPPENHEIMER

(Jennifer Lame)
Best Production Design POOR THINGS

(Production Design:
James Price and Shona
Heath; Set Decoration:
Zsuzsa Mihalek)
Best Live Action Short THE WONDERFUL

STORY OF HENRY
SUGAR
(Wes Anderson and
.
Steven Rales)
India Bags 'Measles And Rubella Champion' Global Award For Extraordinary Efforts To Combat
measles and Rubella
 India has been bestowed with the prestigious measles and rubella champion award for its
exemplary efforts in combating these diseases.
 The award was received by Ambassador Sripriya Ranganathan on behalf of the Ministry of Health
and Family Welfare at the American Red Cross Headquarters in Washington.
 The Health Ministry in a statement said, this accolade celebrates the country’s unwavering
commitment to public health and its outstanding leadership in curbing the spread of these
infectious diseases among children.
The Ministry of Tourism held an award ceremony for the 'Design Challenge: Eco-Friendly Cutlery and
Crockery to Replace Single-Use Plastic'.
● The Ministry of Tourism hosted an award ceremony for the winners of the ‘Design Challenge: Eco-
Friendly Cutlery and Crockery to Substitute Single Use Plastic’ along with an exhibition of edible
crockery and cutlery, New Delhi which was chaired by D.G. (Tourism), Ms Manisha Saxena and
graced by the presence of Senior Economic Advisor Mr. Gyan Bhushan, renowned Chef Manjit
Singh Gill, Chef Gunjan Goela and others.
● The Ministry of Tourism, in coordination with the National Council for Hotel Management & Catering
Technology (NCHMCT) organized the ‘Design Challenge: Eco-Friendly Cutlery and Crockery to
Substitute Single Use Plastic’ on a pan India basis.
T M Krishna conferred the Sangita Kalanidhi Award
● Noted Carnatic vocalist and Magsaysay award winner T.M. Krishna has been selected for the
Sangita Kalanidhi award of the Music Academy for 2024.
● The news about the award was conveyed to Mr. Krishna by N. Murali, president, of Music Academy,
when he was performing, with his wife Sangeetha and students, at the memorial of St. Thyagaraja at
Thiruvaiyaru.
● The Sangita Kala Acharya awards will be presented to mridhangam player Parasala Ravi (V.
Raveendran Nair) and vocalist Geetha Raja.
● TTK Awards will go to Thiruvaiyyaru Brothers S. Narasimhan and S. Venkatesan, who are from a
musical lineage that stretches back to Tyagaraja. Another artiste who will get the award is violinist
.
H.K. Narasimhamurthy.
● The Musicologist Award will be given to Dr. Margaret Bastin.
● This year’s Nritya Kalanidhi Award will be presented to Dr. Neena Prasad.
Renowned Poet Prabha Varma Selected For Saraswati Samman For The Year 2023
● Renowned poet Prabha Varma has been selected for the Saraswati Samman for the year 2023 for
his work in the Malayalam language.
● He has been considered for this award for his Malayalam language poetry work, Roudra Sathwikam
and also for his contribution to literature during the period 2013 to 2022.
● Roudra Sathwikam is a poetic work of Prabha Varma in Malayalam language which was published in
2022.
PM Modi Becomes 1st Foreign Head To Be Bestowed With Bhutan’s Highest Civilian Award Order Of
The Druk Gyalpo
● King of Bhutan Jigme Khesar Namgyel Wangchuck conferred Bhutan’s highest civilian award, the
Order of the Druk Gyalpo, on Prime Minister Narendra Modi in Thimpu.
● Prime Minister Modi is the first foreign leader to be given this prestigious award.
● The citation of the Order states that the award recognises Prime Minister Modi’s accomplishments
and leadership, and his contributions to strengthen the bonds of friendship between India and
Bhutan.
● The King of Bhutan had announced the conferment of the award during Bhutan’s 114th National Day
celebrations in December 2021.
Professor Emeritus James Boyce Wins First Global Inequality Research Award
● The World Inequality Lab (WIL) and Sciences Po’s Center for Research on Social Inequalities
(CRIS) have joined forces for the first edition of the Global Inequality Research Award (or GiRA),
which aims to recognize every two years researchers from all disciplines who have made a
significant contribution to the understanding of global inequalities.
● First, the perspective of inequality research is being conducted in all corners of the world.
● Second, the perspective of inequality is a complex phenomenon that requires light from all angles to
be fully understood and ultimately mitigated.
● The 2024 GiRA Prize is jointly awarded to Bina Argawal and James K. Boyce for their
groundbreaking work in the field of social and environmental inequalities.
.
ISRO gets Aviation Week Laureates Award for historic Chandrayaan-3 mission
● The Aviation Week Laureates Award was presented to ISRO for its achievements in the historic
Chandrayaan-3 mission.
● Sripriya Ranganathan, Deputy Ambassador at the Indian Embassy in the US, received the award on
behalf of ISRO.
● The Aviation Week Laureates Award is known for recognizing exceptional achievements within the
aerospace industry.
● With a cost of a modest $75 million, this mission achieved a historic milestone by making a
successful landing at the lunar South Pole.
● Earlier, the Leif Erikson Lunar Prize was given to ISRO from the Husavik Museum for its unwavering
commitment and significant contribution to lunar exploration.
● In another accolade for the space agency, the International Astronomical Union (IAU) working group
for Planetary System Nomenclature has approved the name ‘Station Shiv Shakti’ for the landing site
of Chandrayaan-3’s lander.
About IAU
● The International Astronomical Union (IAU) was founded in 1919. It is the world’s largest
professional body for astronomers.
● In 1982, the United Nations, at its ‘Fourth Conference on the Standardization of Geographical
Names’ held in Geneva, recognised the authority of the IAU on assigning “extraterrestrial names” by
adopting a resolution.
● IAU membership spans 92 countries. Out of those countries, 85 are National Members.
IndiGo awarded ‘Airline of the year’ at Air Transport Awards 2024
● Budget airline IndiGo was named as the ‘Airline of the Year’ at the Air Transport Awards 2024 held
in Greece’s Athens.
● IndiGo recently became India’s first carrier to operate 2,000 daily flights and carry 100 million
passengers in a year.
● The 2024 Air Transport Awards was organised in partnership with Hermes – Air Transport
Organisation and ATN – Air Transport News to recognize the contributions made in the aviation
sector.
● The winners are voted for by both the readers of Air Transport News as well as a jury of international
aviation experts.
.
● Founded in 2005, IndiGo is the largest aviation company in India with respect to market share and
operates a fleet of over 350 aircraft.
● The airline is currently operating around 2000 daily flights and connecting over 85 domestic
destinations and more than 30 international destinations.
Michel Talagrand awarded the 2024 Abel Prize
● The Norwegian Academy of Science and Letters has decided to award the Abel Prize for 2024 to
Michel Talagrand of the French National Center for Scientific Research (CNRS), Paris, France.
● Michel Talagrand is awarded for his work in probability theory and stochastic processes.
● The Abel Prize was modelled after the Nobel Prizes — which do not include mathematics — and
was first awarded in 2003.
● The recipient wins a sum of 7.5 million Norwegian kroner (US$700,000).
About Norwegian Parliament
● The Norwegian Parliament established the prize in 2002.
● It is named after Norwegian mathematician Niels Henrik Abel.
● The Abel Prize is a prestigious award in mathematics that recognizes pioneering scientific
achievements in mathematics.
● It is awarded by the Norwegian Academy of Science and Letters on behalf of the Ministry of
Education of Norway.
CMD/RailTel Conferred with CMD Leadership Award at Governance Now PSU Conference & Awards
2024
● Sanjai Kumar, CMD/RailTel, has been conferred with CMD Leadership Award in the 10th Edition of
Governance Now PSU Conference and Awards.
● This is a prestigious award conferred by Governance Now, a publication of the SAB (Sri Adhikari
Brothers) Group, recognizing outstanding achievements of PSUs and its leaders across a large
spectrum.
● Kumar was conferred with the CMD Leadership Award for his outstanding leadership in
leadingRailTel team towards exceptional performance during the past year.
NLC India Ltd bags GEEF Global Environment Award 2024

● NLC India Ltd (NLCIL) has bagged the GEEF Global Environment Award 2024 in the mining
category during the Global Clean Energy Summit - 2024 held in New Delhi recently.
● According to an NLCIL press note, the summit centred around discussions on facilitating India’s
.
transition to clean energy, emphasising affordability, sustainability, and energy Independence.

● NLCIL won the award for its efforts in sustainable development initiatives such as the concurrent
mine reclamation, extensive greenbelt development, implementation of air pollution control
measures to maintain ambient air quality in and around Neyveli, better water quality management
system, and also for its social welfare measures like providing clean water for domestic and irrigation
purposes etc.
Vijay Jain, Managing Director of Star Estate Bags Prestigious Times Power Icon 2024 Award
● In a glittering event honouring top industry leaders, Vijay Jain, Managing Director of Star Estate,
was adjudged the prestigious Times Power Icon 2024 Award.
● The award ceremony, held recently in Noida, was organized by The Times Group.
● The visionary leadership and outstanding achievements of Vijay Jain in the real estate sector
were acknowledged and celebrated on the occasion.
● The event was graced by industry leaders and celebrities, including Cine icon Ada Sharma, who
presented the award to Vijay Jain.
MOUS AND AGREEMENT

C-DOT and Qualcomm ink Memorandum of Understanding to further the Make in India and Atmanirbhar
Bharat initiatives.
 Centre for Development of Telematics (C-DOT), a public funded research institution focused on
telecom technology by the Government of India, at just concluded Mobile World Congress 2024 at
Barcelona in Spain, announced plans to collaborate with Qualcomm Technologies Inc, a subsidiary
of Qualcomm Incorporated, to establish a strategic partnership that will foster innovation in India
and support India based developers and start-ups working on innovative products and use cases.
MoSPI and ISRO Sign an MoU on Bhuvan-Powered Urban Frame Survey
 The NSSO (FOD) under the Ministry of Statistics and Programme Implementation (MoSPI) has
entered into a Memorandum of Understanding (MoU) with the National Remote Sensing Centre
(NRSC) under the Indian Space Research Organization (ISRO) to facilitate Urban Frame Survey
(UFS) in a digital mode using the state-of-the-art Geo ICT tools and techniques using Bhuvan
Platform.
 The MoU was signed by Shri Subash Chandra Malik, Additional Director General, NSSO, MoSPI
and Dr. Srinivasa Rao S, Deputy Director, BGWSA, NRSC in the presence of Dr. Prakash
.
Chauhan, Director NRSC, Dr K Vinod Kumar, Associate Director, NRSC and Shri Raushan Kumar
Choudhary, Deputy Director General (UFS).
Government and other parties involved to peacefully settle all of the concerns about the indigenous
people of Tripura.
 A tripartite agreement was signed between the Centre, the State government of Tripura and the
Indigenous Progressive Regional Alliance, popularly known as Tipra Motha and other
stakeholders, in New Delhi.
 Union Home Minister Amit Shah, Tripura Chief Minister Manik Saha, Tipra Motha supremo Pradyot
Debbarma and other senior leaders attended the meeting.
 It was agreed to constitute a Joint Working Group to work out and implement the mutually agreed
points in a time-bound manner to ensure an honourable solution.
Coal India Limited Signs MoU with Indian Institute of Management (IIM) to boost PM’s mission Gati
Shakti
 Coal India Limited (CIL) has entered into a Memorandum of Understanding (MoU) with the Indian
Institute of Management (IIM) Mumbai and IIM Sambalpur.
 The partnership aims to align coal transportation infrastructure with the ambitious PM Gati Shakti
National Master Plan 2021, enhancing multimodal connectivity across the country.
 Under this initiative, a one-year PGP-Ex programme in “Logistics and Operations Excellence
through Digitisation” is to be conducted for the Executives of Coal India, serving in MCL and other
subsidiaries.
An MoU is signed by the MoD with BEML Limited, BEL, and MIDHANI for the development of advanced
fuelling and control systems for engines intended for heavy-duty uses domestically.
 The Ministry of Defence has signed a tripartite Memorandum of Understanding (MoU) with BEML
Limited, Bharat Electronics Limited (BEL) and Mishra Dhatu Nigam Limited (MIDHANI) for the
indigenous development of Advanced Fuelling and Control System for Engines for heavy duty
applications.
 The MoU was inked with Chairman & Managing Director, BEML Limited Shri Shantanu Roy; CMD,
MIDHANI Dr SK Jha; and CMD, BEL Shri Bhanu Prakash Srivastava, in the presence of Defence
Secretary Shri Giridhar Aramane in New Delhi on March 04, 2024.
.
 This collaborative initiative will focus on leveraging indigenous capabilities to design, test, and
manufacture an Advanced Fuelling and Control System that offers enhanced efficiency,
performance, and reliability.
Gujarat Urja Vikas Nigam Limited (GUVNL) and NLC India Green Energy Limited (NIGEL) sign a power
purchase agreement for a 600 MW solar power project.
 NLC India Limited (NLCIL) has incorporated a wholly owned subsidiary NLC India Green Energy
Limited (NIGEL) to carry out future Renewable Energy Projects.
 The subsidiary will focus specifically on Renewable Energy projects and thus leveraging the
expertise to its benefits.
 The Power Purchase Agreement was signed by the Chief Executive Officer of NIGEL in the
presence of Chairman, NIGEL Director and CFO, NIGEL with GM (Renewables), GUNVL at
Vadodara.
 NLCIL has won 600 MW Solar Power Project tender in the GSECL Khavda Solar Park, floated by
GUVNL through competitive bidding process.
Ministry of Jal Shakti Signs Agreement with Indian Institute of Science, Bangalore for Establishment of
International Centre of Excellence for Dams (ICED)
 As part of the holistic effort of Government of India to equip national institutions of eminence to
develop capability and expertise at par with global institutions and empower 'Make in India' in dam
safety, Central Water Commission (CWC), Department of Water Resources, River Development &
Ganga Rejuvenation, Ministry of Jal Shakti has signed a Memorandum of Agreement (MoA) with
Indian Institute of Science (IISc) Bangalore for Establishment of an International Centre of
Excellence for Dams (ICED) under externally supported Dam Rehabilitation and Improvement
Project (DRIP) Phase II and III.
 This MoA will remain valid for ten years or till the duration of the DRIP Phase-II and III Scheme,
whichever is earlier, from the date of signing this MoA
India, and Indonesia's central banks sign agreement to promote use of local currencies for bilateral
transactions
 The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of
Understanding (MoU) for establishing a framework to promote the use of local currencies -- the
Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions.
.
 The MoU was signed by the Governor, of the Reserve Bank of India, Shaktikanta Das and the
Governor, of Bank Indonesia, Perry Warjiyo.
 The MoU on establishing a framework for cooperation in the area of cross-border transactions in
local currencies between India and Indonesia aims to promote the use of INR and IDR bilaterally.
CSIR-Indian Institute of Petroleum signs MoU with UCOST to deploy the Pine Needles-based fuel-
making technology in Champawat
 Shri Pushkar Singh Dhami, an MoU was signed between CSIR Indian Institute of Petroleum,
Dehradun and UCOST under the aegis of the "Adarsh Champawat" mission.
 Dr Harendra Singh Bisht, Director of the Indian Institute of Petroleum and Professor Durgesh Pant,
Director General of UCOST, signed the MoU documents and inaugurated a historic project on
deploying the technology of making fuel from Pine Needles in Champawat.
Centre inks MoU to support individuals with speech-hearing disabilities

 The Department of Empowerment of Persons with Disabilities (DEPwD) has signed a
Memorandum of Understanding (MoU) with SignAble Communications.
 The MoU signifies a significant step forward in improving support for individuals with speech and
hearing disabilities.
 The MoU aims to enhance communication and accessibility for visually and hearing-impaired
Divyangjan.
 Presently, various departmental organizations utilize different helpline numbers, making it crucial to
establish a centrally maintained, user-friendly Short Code Helpline Number.
 The National Level Helpline for Divyangjan, Short Code-14456, launched on Jan 8, 2024, at the
International Purple Fest, Goa.
Department of Empowerment of Persons with Disabilities signs MoU with Electronics Sector Skills
Council of India for Skilling of PwDs
 In a pivotal move towards enhancing the empowerment and skill development of Persons with
Disabilities (PwDs), the Department of Empowerment of Persons with Disabilities (DEPwD) has
inked a Memorandum of Understanding (MoU) with the Electronics Sector Skills Council of India
(ESSCI).
 The MoU, spearheaded by Shri Rajesh Aggarwal, was formalized to equip PwDs with the
necessary skills for various job roles within the electronics sector.
.
 This landmark MoU signifies a collaborative effort to cultivate human resources through vocational
training aligned with industry demands.
NHAI signs MoU with HLL Life Care for incident management system
 To provide immediate assistance to accident victims and strengthen the Incident Management
System (IMS) on the National Highways, NHAI has signed a Memorandum of Understanding
(MoU) with HLL Lifecare Limited, a Public Sector Undertaking under the Ministry of Health &
Family Welfare (MoH&FW).
 The MoU was signed in the presence of NHAI Chairman, Shri Santosh Kumar Yadav, and Shri
Kuruvilla P.C., Associate Vice President & Business Head, HLL Lifecare Limited, along with other
senior officials from NHAI and HLL Lifecare Ltd.
 The MoU will help NHAI to strengthen its existing Incident Management System, which includes
Ambulances, Route Patrol Vans & Cranes, real-time tracking, and supportive supervision.
NPCI ties up with Nepal’s Fonepay for cross-border merchant payments
 NPCI International Payments (NIPL), the international arm of the National Payments Corporation of
India (NPCI) has agreed with Nepal-based payment network Fonepay Payment Service, for cross-
border UPI transactions between India and Nepal.
 The arrangement will facilitate QR-code-based, person-to-merchant (P2M) UPI transactions
between the two countries.
 In the first phase, Indian consumers will be able to make instant, secure and convenient UPI
payments across various business stores in Nepal to merchants on the Fonepay Network.
Coal India signs agreement with Australian firms to mine critical minerals
 Coal India Limited (CIL), the world's largest coal-producing company, has inked two Non-
Disclosure Agreements (NDAs) with entities in New South Wales (NSW), Australia, indicating
advanced discussions.
 Additionally, CIL is exploring mining opportunities for critical minerals on a global scale, with
Argentina among the key countries under consideration.
 The initiative aligns with India's goals set at COP28, emphasizing the reduction of carbon
emissions through the adoption of clean energy.
About CIL
 Coal India Limited is an Indian central public sector undertaking under the ownership of the
Ministry of Coal, Government of India.
 It is headquartered at Kolkata.
.
 CEO: Pramod Agrawal

Defence Ministry signs ₹200 crore contract for anti-drone systems under iDEX initiative
 The Ministry of Defence has signed a ₹200 crore contract for anti-drone systems for the Indian
Army and Indian Air Force (IAF) with Big Bang Boom Solutions Private Limited (BBBS).
 This is the largest contract signed by the MoD under the Innovations for Defence Excellence
(iDEX) initiative, according to the company.
 The focus of the iDEX programme is to foster an ecosystem of innovation and technology
development in defence.
 It is our constant endeavour to engage with young innovators who can bring technologically
advanced solutions for modernising the Indian military.
India and Dominican Republic establish first bilateral institutional mechanism for trade and commerce
 The protocol for establishment of the Joint Economic and Trade Committee (JETCO) between
India and Dominican Republic was signed at the Ministry of Foreign Affairs (MIREX) of Dominican
Republic at Santo Domingo.
 The protocol was signed by H.E. Mr. Roberto Álvarez, Minister of Foreign Affairs of Dominican
Republic and Mr. Ramu Abbagani, Ambassador of India to the Dominican Republic on behalf of
the Department of Commerce.
 The Union Cabinet had approved the proposal for signing of the said protocol for establishment of
JETCO on January 24, 2024.
The Ministry of Heavy Industries has recently signed a memorandum of understanding (MOU) with the
Indian Institute of Technology, Roorkee.
 The Ministry of Heavy Industries (MHI) and the Indian Institute of Technology, Roorkee (IIT
Roorkee) signed a Memorandum of understanding (MoU) to work together to encourage
innovation and advance the automotive and electric vehicle (EV) sector.
 This MoU was signed in the presence of Dr Mahendra Nath Pandey, Minister of Heavy Industries,
Shri Pushkar Singh Dhami, Chief Minister of the State of Uttarakhand (through VC) and senior
officials of the Ministry of Heavy Industries and the State of Uttarakhand.
India and ADB sign $23 million loan deal to boost fintech
● The Government of India and the Asian Development Bank (ADB) signed a $23 million loan
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agreement to enhance access to quality fintech education, research, and innovation at the Gujarat
International Finance Tec-City (GIFT-City).
● The signatories to the loan agreement for Promoting Research and Innovation through Development
of Fintech Institute at GIFT-City Project were Ms Juhi Mukherjee, Joint Secretary, Department of
Economic Affairs, Ministry of Finance, for the Government of India, and Mr Rajesh Vasudevan,
Officer-in-Charge of ADB’s India Resident Mission, for ADB.
● GIFT City is an initiative of the Government of India and the State Government of Gujarat to foster
India’s financial services and fintech ecosystem.
● After signing the loan agreement, this project will establish an International Fintech Institute (IFI) to
strengthen fintech education, boost start-up success rates, and drive fintech research and
innovation.
India and Singapore have signed a Memorandum of Understanding to cooperate in the area of Law &
Dispute Resolution
● India and Singapore have signed a Memorandum of Understanding (MoU) on cooperation between
the two countries in the sphere of Law & Dispute Resolution.
● The Memorandum of Understanding was signed in a virtual meeting of the Minister of State for Law
and Justice (I/C), Government of India, Shri Arjun Ram Meghwal for the Indian side and the Minister
for Culture, Community and Youth and Second Minister for Law, Government of Singapore, Mr.
Edwin Tong for the Singapore side.
● The Memorandum of Understanding is on further cooperation between the two countries in the areas
of common interest such as international commercial dispute resolution; matters relating to the
promotion of robust alternative dispute resolution mechanisms in respective countries and the
establishment of a Joint Consultative Committee to oversee the implementation of the Memorandum
of Understanding.
A memorandum of understanding (MoU) has been signed between the Directorate General of Foreign
Trade (DGFT) and DHL.
● The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government
of India, has been actively engaging in boosting e-commerce exports from the country, leveraging its
‘District as Export Hub’ initiative.
● The goal is to promote and enable micro, small and medium enterprises (MSMEs) to explore the
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international markets through e-commerce channels.

● DGFT has been collaborating with various e-commerce platforms and other service providers to
handhold and do capacity building and training sessions in the identified districts under the districts
as export hubs initiative.
● DGFT partnered with the global logistics service provider, DHL, through the signing of a
Memorandum of Understanding (MoU) which will cover 76 districts in three phases, to conduct
capacity-building sessions, training, and workshops for making Indian MSMEs export-ready.
● DGFT has signed MoUs with Amazon India and Shiprocket covering 20 and 16 districts respectively.
The Department of Empowerment of Persons with Disabilities (DEPwD) and the Council of Architecture
have joined forces to improve accessibility for people with disabilities.
● The Department of Empowerment of Persons with Disabilities (DEPwD) is pleased to announce a
groundbreaking collaboration with the Council of Architecture (COA) aimed at promoting inclusivity
and accessibility for Persons with Disabilities (PwDs) in public spaces and buildings.
● The Memorandum of Understanding (MOU) signed between DEPwD and COA signifies a joint
commitment to conduct workshops, seminars, and training programs.
● As part of this partnership, COA and DEPwD recently concluded a certified Training of Master
Trainers on Universal Accessibility.
● The primary objective of this training program is to empower architects, academicians etc to serve
as access auditors in the built environment.
● The Training of Master Trainers on Universal Accessibility was conducted in two phases.
● Phase-I took place online in September 2023, while Phase-II concluded on March 11th and 12th,
2024.
RECPDCL and BHEL have joined hands to collaborate on developing utility-scale renewable energy
projects.
● REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC
Limited, has signed an MoU with Bharat Heavy Electrical Limited (BHEL), for joint development of
utility-scale Renewable Energy Projects across the country.
● The MoU thus aims to contribute to the clean energy targets of the nation, through a dedicated
Special Purpose Vehicle (SPV).
● The SPV will benefit from the core engineering expertise of BHEL and the infrastructure investment
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expertise of REC Limited.
MoRD, GoI signs MoU with Bharat Financial Inclusion Ltd to synergize livelihood intervention in the
livestock sector.
● The Ministry of Rural Development, Government of India has signed a Non-Financial Memorandum
of Understanding (MoU) with the Bharat Financial Inclusion Limited (BFIL) to support the livelihood
intervention of DAY-NRLM by syncing their activities in livestock and fisheries development.
● The MoU was signed by Additional Secretary, Ministry of Rural Development Shri Charanjit Singh
and Executive Vice Chairman Shri J Sridharan at New Delhi.
● As part of the MoU, in the initial phase a centralized Project Monitoring Unit (PMU) will be
established to support DAY-NRLM at the national level and State PMU in Maharashtra, Madhya
Pradesh, Jharkhand, Uttar Pradesh, Rajasthan, Tamil Nadu and Bihar will be developed.
Ministry of Rural Development signs a MoU with J-PAL South Asia to provide technical assistance in
the implementation of inclusive development under DAY NRLM
● The Ministry of Rural Development, Government of India signed an MoU with Abdul Latif Jameel
Poverty Action Lab (J-PAL), South Asia at IFMR. J-PAL, SA@ IFMR will act as a knowledge partner
on inclusive development to put rural poor women on the path to self-sufficiency.
● The MoU was signed by Additional Secretary, Ministry of Rural Development Shri Charanjit Singh
and Executive Director, J-PAL South Asia Ms. Shobhini Mukerji.
● The inclusive development strategy will adapt BRAC’s Graduation Approach, a comprehensive
livelihoods programme that randomised evaluations by researchers affiliated with J-PAL and
Innovations for Poverty Action have found to be effective in lifting vulnerable households out of
poverty.
MoD signs contract worth over Rs. 2,890 cr with HAL for Mid Life Upgrade of 25 Dornier Aircraft of
Indian Navy
● The Ministry of Defence signed a contract with Hindustan Aeronautics Limited (HAL) for Mid Life
Upgrade (MLU) of 25 Dornier Aircraft along with associated equipment for the Indian Navy at a cost
of Rs.2,890 cr.
● The MLU for Dornier Aircraft includes an upgrade to incorporate state-of-the art Avionics Systems
and Primary Role sensors.
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● The upgrade would significantly enhance the operational capability of the Dornier aircraft of the
Indian Navy to perform Primary Roles of Maritime Surveillance, Coastal Surveillance, Electronic
Intelligence and the development of Maritime Domain Awareness.
● In addition, this upgrade will also enable Indian Navy Dorniers to carry out Secondary Roles of
Search and Rescue, Medical/Casualty Evacuation and Communication Link.
Multi Commodity Exchange (MCX) and Jakarta Futures Exchange (JFX) ink an MoU for knowledge
sharing and regional development
● Multi Commodity Exchange and the Jakarta Futures Exchange, the largest commodity exchange in
Indonesia, have entered into a memorandum of understanding to enhance collaboration in key
areas, including knowledge sharing, research, education, training, awareness creation, and other
market development initiatives
About MCX
● Multi Commodity Exchange of India Ltd is a commodity exchange based in India.
● It was established in 2003 by the Government of India and is currently based in Mumbai.
● CEO: P.S. Reddy.
● Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic
exchange.
Reliance signs partnership with Sri Lanka-based beverage maker Elephant House
● Reliance Industries Ltd’s Reliance Consumer Products has partnered with Sri Lanka’s Elephant
House to make and sell beverages under the Elephant House brand in India.
● This will add to the portfolio of beverage brands under Reliance Consumer including Campa Cola,
Sosyo and Raskik.
● Elephant House is owned by Ceylon Cold Stores PLC, a subsidiary of John Keells Holdings, Sri
Lanka’s largest listed conglomerate.
NCW & Railway Protection Force Sign MoU In New Delhi To Prevent & Combat Human Trafficking
● The National Commission for Women (NCW) and the Railway Protection Force have signed an MoU
in New Delhi to prevent and combat human trafficking.
● Chairperson of NCW Rekha Sharma informed that Railway Protection Force personnel deployed at
Railway stations are playing a crucial role in the crime against women and children.
● 70 percent of cases of human trafficking are related to women and Girl children.
.
● The Director General of the Railway Protection Force, RPF Manoj Yadava said, the overall objective
of this MoU is to provide a safe and secure travel experience to women.
NCC & NPCIL ink MoU to raise awareness on the peaceful use of nuclear power through various
programmes pan India
● National Cadet Corps (NCC) and Nuclear Power Corporation of India Limited (NPCIL) signed a
Memorandum of Understanding (MoU) in New Delhi to conduct various awareness programmes
throughout the country to enhance public perceptions on the peaceful use of nuclear power and
disseminate scientific & authentic information.
● The MoU was signed between DG NCC Lt Gen Gurbirpal Singh and Executive Director (Corporate
Communication & Corporate Planning), NPCIL Shri BVS Shekhar.
● The NPCIL will be providing resource persons in this initiative for field engagements with the NCC
during the camps and various activities by educating the cadets.
MoU signed between the Indian Council of Agricultural Research and Dhanuka Agritech Limited
● The Indian Council of Agricultural Research (ICAR) and Dhanuka Agritech Limited have signed a
Memorandum of Understanding (MoU).
● Deputy Director General (Agricultural Extension), ICAR Dr. U.S. Gautam and Chairman, Dhanuka
Agritech Limited Dr. R.G. Aggarwal signed this MoU on behalf of respective organizations.
● This MoU aims to promote natural farming in the changing environment.
● The objective of this agreement is to utilize the efficiency of both institutions to deliver new
technology to the farmers.
India And Bhutan Exchanged Several MoUs To Strengthen Partnership
● India and Bhutan exchanged several agreements of mutual interest to further strengthen their
partnership.
● The documents were exchanged between India and Bhutan in the presence of Prime Minister
Narendra Modi and Prime Minister of Bhutan Tshering Tobgay in Thimphu.
● Prime Minister Narendra Modi’s visit to Bhutan will boost bilateral relationship by focusing on
developmental partnership.
CBI, Europol Sign Working Arrangement To Establish Cooperative Relations
● The Central Bureau of Investigation (CBI) and European Union Agency for Law Enforcement
Cooperation (Europol) signed a Working Arrangement for establishing cooperative relations between
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the law enforcement authorities of these two organisations.

● The Working Arrangement was signed by CBI Director Praveen Sood and Executive Director of
Europol, Catherine De Bolle.
● The signing was concluded in a virtual event held simultaneously in New Delhi and the Hague in
presence of senior CBI and Europol officials
India, UK aim to sign free-trade agreement by July

● New Delhi and London are aiming at signing the free-trade agreement (FTA) by July, leading to
Indian exporters of labour-intensive products such as textiles, machinery, automobile parts, and
marine products getting greater market access.
● Signing a trade deal with the United Kingdom (UK) would be one of the main priorities of India’s
National Democratic Alliance-led government, which is now eyeing a third consecutive term.
CBI, Europol sign Working Arrangement for cooperative relations

● The Central Bureau of Investigation (CBI) and the European Union Agency for Law Enforcement
Cooperation (Europol) signed a Working Arrangement for establishing cooperative relations between
the law enforcement authorities of these two organisations.
● The Working Arrangement was signed by CBI Director Praveen Sood and Executive Director of
Europol, Catherine De Bolle.
● This arrangement promotes direct cooperation between both organizations to build on their
respective mandates, and strategies and to explore the potential for synergies.
About Europol
● Europol is the law enforcement agency of the European Union.
● It was established in 1998.
● It is based in The Hague, Netherlands.
Airtel Payments Bank joins Noise, and Mastercard to launch smartwatch
● Airtel Payments Bank collaborated with smartwatch brand Noise and global technology company
Mastercard to launch the new smartwatch to redefine and make contactless payments accessible to
a larger consumer base.
● Users can purchase the new smartwatch at Rs 2,999.
● Customers who have a savings account with Airtel Payments Bank can buy this watch from the
company's Thanks app.
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CAG signs MoU with IIT Delhi on Artificial Intelligence

● The Comptroller and Auditor General (CAG) of India signed a Memorandum of Understanding (MoU)
with Indian Institute of Technology (IIT) Delhi on Artificial Intelligence.
● The MoU was signed and exchanged between Additional Deputy CAG A. M. Bajaj and IIT Delhi
Director, Prof. Rangan Banerjee, in the presence of CAG Girish Chandra Murmu.
● The Government of India had unveiled the national strategy for AI in 2018.
● It aims to encourage innovation, skilling of the workforce, and promotion of responsible AI adoption.
Tejas Networks announces strategic partnership with Telecom Egypt

● Tejas Networks Ltd. announced that it signed a Memorandum of Understanding with Telecom Egypt
(TE), ITIDA (Information Technology Industry Development Agency), and National Telecom Institute
to replicate the Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network)
projects in Egypt.
● The agreement aims to accelerate the vision of Digital Egypt, upskill Egyptian engineers and
technicians, establish local manufacturing and R&D facilities, and set up technical support services
in Egypt.
RPF and NCW signed MoU to combat human trafficking

● The National Commission for Women (NCW) and the Railway Protection Force came together to
announce a landmark Memorandum of Understanding (MoU) aimed at strengthening efforts to
combat human trafficking across India.
● The MOU was signed by NCW Joint Secretary A Asholi Chalai and RPF Inspector General
Sarvapriya Mayank.
● It underscores the commitment of both organizations to tackle the grave issue of human trafficking,
especially within the extensive network of Indian Railways.
● The initiative comes as a response to the alarming statistics revealing that 70% of trafficked victims
are women, highlighting the urgent need for concerted action to protect the most vulnerable in
society.
About NCW
● NCW, which established an Anti-Human Trafficking Cell on April 2, 2022, has already been working
with the Central Industrial Security Force (CISF) to combat the trafficking of women.
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● Rekha Sharma is the chairperson of the National Commission for Women. Its headquarters is
located in New Delhi.
MoU signed between Indian Council of Agricultural Research and Dhanuka Agritech Limited
● A Memorandum of Understanding (MoU) was signed between the Indian Council of Agricultural
Research (ICAR) and Dhanuka Agritech Limited.
● Dr. U.S. Gautam, Deputy Director General (Agricultural Extension), ICAR and Dr. R.G. Aggarwal,
Chairman, Dhanuka Agritech Limited signed this MoU for respective organizations.
● The objective of this agreement is to utilize the efficiency of both the institutions to deliver new
technology to the farmers.
● Dhanuka Agritech will provide training related to agricultural production to these small farmers by
associating with the central institutes, ATARIs and KVKs.
● This MoU aims to promote natural farming in the changing environment.
NCC, NPCIL ink deal to raise awareness on peaceful use of nuclear power
● The National Cadet Corps (NCC) joined hands with Nuclear Power Corporation of India Limited
(NPCIL) to conduct awareness programmes across the country to enhance public perceptions on
the peaceful use of nuclear power and disseminate scientific information.
● The memorandum of understanding between NCC and NPCIL, a public sector undertaking, also
facilitates a unique opportunity for cadets to visit various facilities of NPCIL, thereby giving a
"first-hand experience" on peaceful use of nuclear energy, its technical and technological
aspects.
● The MoU was signed in New Delhi in presence of Director General of the NCC, Lt Gen Gurbirpal
Singh and Executive Director (Corporate Communication & Corporate Planning), NPCIL, BVS
Shekhar, the defence ministry stated in a statement.
SCIENCE & TECHNOLOGY

Union Minister Rajeev Chandrasekhar Unveils 'Investor Information and Analytics Platform' Established
by IIT Madras
 Union Minister of State for Electronics and IT, Skill Development and Entrepreneurship Rajeev
Chandrasekhar inaugurated the ‘Investor Information and Analytics Platform’ developed by the
Indian Institute of Technology (IIT) Madras.
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 IIT Madras collaborated with YNOS Venture Engine, an incubatee startup of IIT Madras, in
developing the platform.
 The platform serves as a comprehensive resource for startups, providing access to venture
capitalists (VCs), investors networks, government schemes, and various components of the startup
ecosystem.
India Introduces 1st Septic Tank Cleaning Robot to Bolster Swachh Bharat Campaign
 India's ﬁrst septic tank/manhole cleaning robot, offering an end-to-end solution to eliminate manual
scavenging, is strengthening the swachhata abhiyan in different corners of the country.
 The technology called Homosep Atom developed by the startup incubated in the
Department of Science and Technology (DST)-Technology Business Incubator (TBI) of IIT Madras,
solves manual cleaning methods and transforms it to robotic cleaning methods.
Google DeepMind Unveils Genie: AI Model Generates Interactive Video Games from Text or Image
Prompts
 Google DeepMind has unveiled Genie, a new Artificial Intelligence (AI) model capable of
generating interactive video games solely from a text or image prompt.
 Genie serves as a foundation world model trained on videos sourced from the Internet.
 The model can “generate an endless variety of playable (action-controllable) worlds from synthetic
images, photographs, and even sketches.”
About Google :
 Founded : September 4, 1998
 Headquarters : California, United States
 CEO : Sundar Pichai
Newly Identified Moons: Discovery of Three Previously Unseen Moons Orbiting Neptune and Uranus
 Astronomers have made a remarkable discovery in our solar system, identifying three previously
unknown moons.
 Two of these newly found moons are orbiting Neptune, while the other is encircling Uranus.
 Revelation by International Astronomical Union (IAU) : The International Astronomical Union’s
Minor Planet Center revealed the discovery, adding to humanity’s understanding of our cosmic
neighbourhood.
Prime Minister Narendra Modi Announces India's Own Space Station by 2035
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 Prime Minister Shri Narendra Modi unveiled India's ambitious plans to launch its own space station
by 2035 during his visit to the Vikram Sarabhai Space Centre (VSSC) in Thiruvananthapuram,
Kerala.
 Progress in Space Technology:PM Modi highlighted India's advancements in space
technology, emphasizing the significant increase in satellite launches over the past decade.
 Seed of Scientific Temperament:Addressing the audience at VSSC, PM Modi stated that India's
success in the space sector is fostering a scientific temperament among the country's youth.
About ISRO :
 Established: 15 August 1969
 Headquarters: Bangalore, Karnataka, India
 Chairman: S. Somanath
Prime Minister Shri Narendra Modi Unveils 4 Astronaut-Designates for Gaganyaan Mission
 Prime Minister Shri Narendra Modi announced the names of the 4 astronauts who are undergoing
training for the country's maiden human space flight mission, Gaganyaan.
 The 4 candidates, Group Captains Prasanth Balakrishnan Nair (47), Angad Pratap (41), Ajit
Krishnan (41), and Wing Commander Shubhanshu Shukla (38), are officers of the Indian Air Force
(IAF).
 These selected astronauts will follow in the footsteps of Rakesh Sharma, the first and only Indian
to have travelled to space in 1984 aboard a Russian spacecraft.
 Additionally, Indian-Americans Kalpana Chawla and Sunita Williams have also been to space on
NASA missions.
Indian Institute of Technology Madras and Translational Health Science and Technology Institute
Collaborate to Develop AI-Powered Model for Determining Foetal Age in Pregnant Indian Women,
Enhancing Pregnancy Care
 The Indian Institute of Technology (IIT) Madras and Translational Health Science and Technology
Institute (THSTI), Faridabad have collaborated to develop the first India-specific Artificial
Intelligence (AI) model named Garbhini-GA2 to determine the age of a foetus in a pregnant woman
in the second and third trimesters precisely.
 This model is notable for being the first late-trimester Gestational Age (GA) estimation model
validated with data from the Indian population, specifically the GARBH-Ini dataset.
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 This study was conducted in partnership with Gurugram Civil Hospital, Gurugram, Safdarjung
Hospital, New Delhi, Christian Medical College Vellore and Pondicherry Institute of Medical
Sciences, Puducherry.
Google Partners with Election Commission of India (ECI) to Combat Dissemination of False Information
 Alphabet Inc-owned Google has joined hands with the Election Commission of India (ECI) to
prevent spread of false information, promote authorised content and label AI-generated data
during the upcoming general elections.
 Google has already started displaying labels for content created with YouTube generative AI
features, like Dream Screen.
 Strict Advertising Policies: Google has implemented strict policies and restrictions for election-
related advertising on its platforms.
 These measures include identity verification, certification, authorization by the ECI, and disclosure
of financiers.
About Google :
 Founded : September 4, 1998
 Headquarters : California, United States
 CEO : Sundar Pichai
About ECI :
 Established : 25 January 1950
 Chief Election Commissioner of India : Rajiv Kumar
 The Election Commission of India (ECI) is a constitutional body, established by the Constitution of
India to conduct and regulate elections in the country.
 The Election Commission operates under the authority of Constitution per Article 324
 Article 324 of the Constitution provides that the power of superintendence, direction, and control of
elections to parliament, state legislatures, the office of the president of India, and the office of vice-
president of India shall be vested in the election commission.
India Successfully Conducts Test of Agni-V Ballistic Missile Featuring Multiple Warhead Technology as
part of Mission Divyastra
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 India had successfully tested a new Agni-5 missile capable of carrying multiple warheads and
striking multiple targets.
 The significant aspect of this new missile is its integration with Multiple Independently Targetable
Re-entry Vehicle (MIRV) technology.
 MIRV Technology : MIRV (Multiple Independently Targetable Re-entry Vehicle) technology is the
capability that allows multiple warheads to be loaded on a single missile delivery system and
programmed to hit different targets, thus greatly enhancing the missile’s destructive potential.
Union Minister Jitendra Singh Inaugurates Indian National Space Promotion and Authorisation Centre
Technical Centre in Ahmedabad
 Union Minister Dr. Jitendra Singh inaugurated the IN-SPACe Technical Centre at the headquarters
of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) in the Bopal area of
Ahmedabad.
 India's target is to take the space economy from 2% to 10% by 2030, which will be a five-fold
increase, and 15 per cent by 2047 as per the vision document.
 The IN-SPACe Technical Centre offers various facilities, including the Climate Simulation Test
Facility (CSTF), Thermal and Vacuum Environment Simulation Facility (TVAC), Vibration Test
Facility (VTF), Space Systems Assembly Integration Testing and Checkout Laboratory, RF and
Opto-Electronics Laboratory, and Clean Rooms for Assembly, Integration, and Testing (AIT)
activities.
Government Plans Collaboration with Indian Space Research Organisation to Bring Internet to 80
Remote Tribal Villages
 The Ministry of Tribal Affairs is planning to collaborate with the Indian Space Research
Organisation (ISRO) to deploy V-SAT stations on a pilot basis for around 80 tribal villages in
Jharkhand, Madhya Pradesh, Odisha, and Maharashtra to bring Internet services there.
 Enhanced Connectivity: These V-SAT stations will offer Wi-Fi capacity of up to 100 Mbps, which
can be further boosted by additional boosters, thereby improving connectivity and facilitating
access to essential services for tribal communities.
 V-SAT Technology: Very Small Aperture Terminal (VSAT) stations, which are less than three
meters tall, will be utilized.
About ISRO :
.
 Established: 15 August 1969

 Headquarters: Bangalore, Karnataka, India
 Chairman: S. Somanath
Vikram Sarabhai Space Centre, Indian Space Research Organisation Collaborate to Develop Multi-
Purpose App 'Sakhi' to Aid Gaganyaan Crew
● The Vikram Sarabhai Space Centre (VSSC), an Indian Space Research Organisation (ISRO)
facility in Thumba, Thiruvananthapuram, has developed a multi-purpose app called Space-borne
Assistant and Knowledge Hub for Crew Interaction (SAKHI).
● Purpose of SAKHI: To assist astronauts on the Gaganyaan space flight mission by providing vital
technical information, facilitating communication, and monitoring their health.
● Features of SAKHI: Monitors astronauts' health.
● Facilitates communication between crew members and with ground-based stations.
● Alerts astronauts about dietary schedules, hydration, and sleep patterns.
About ISRO :
● Established: 15 August 1969
● Headquarters: Bangalore, Karnataka, India
● Chairman: S. Somanath
National Aeronautics and Space Administration Plans to Transport 'Message in a Bottle' to Europa, One
of Jupiter's Moons in October 2024
● The National Aeronautics and Space Administration (NASA) plans to send a "message in a
bottle" to Europa, one of Jupiter's moons, as part of the Europa Clipper mission in October 2024
● Aim of Europa Clipper mission : To explore signs of life on Europa, with scientists predicting the
existence of a salty lake beneath its icy crust.
● The Europa Clipper spacecraft will carry a triangular metal plate with an engraving of US Poet
Laureate Ada Limón’s handwritten “In Praise of Mystery: A Poem for Europa,” along with a silicon
microchip stencilled with more than 2.6 million names submitted by the public.
● The metal plate will also feature etchings of 103 waveforms representing the sound wave
produced by saying the word "water" in 103 different languages, including Hindi, highlighting the
Indian connection to the mission.
● In 2023, NASA conducted a "Message in a Bottle" campaign, inviting the public to submit their
names to be included on the spacecraft.
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About NASA :
● Established : July 29, 1958
● Headquarters : Washington, D.C, United States of America
● Administrator : Bill Nelson
European Union parliament adopts world's first rules to govern Artificial Intelligence
● The European Parliament has approved the world's first regulations governing artificial
intelligence (AI).
● Scope of Regulation: The regulation addresses specific risks associated with AI use, including
biometric authentication, facial recognition, and high-risk domains such as healthcare and deep
fakes.
● Definition of High-Risk Systems: The regulation defines high-risk systems as those with the
potential to cause harm to health, safety, fundamental rights, environment, democracy, and the
rule of law.
● Penalties for Violations: Violations of the AI Act could result in fines of up to 35 million euros ($38
million) or 7% of a company's global revenue.
AgniKul Cosmos postpones maiden rocket launch due to 'technical issue'
● Agnikul Cosmos, the Indian Institute of Technology (IIT)-Madras incubated startup, has
postponed its maiden rocket launch due to a 'technical issue'.
● The Chennai-headquartered company had initially scheduled the launch of the mission 'Agnibaan
SOrTeD' (Sub Orbital Technology Demonstrator) for March 22, 2024.
● The launch was planned to take place from its private launch pad located within the campus of
ISRO at Sriharikota in Andhra Pradesh, approximately 100 km from Chennai.
● The Agnibaan SOrTeD mission is described as an innovative, single-stage Sub-Orbital
Technology Demonstrator.
● Agnikul Cosmos Private Limited was incubated at the Indian Institute of Technology – Madras
(IIT-Madras).
● It builds dedicated, fully customizable & transportable launch vehicles for small satellites to Low
Earth Orbits (LEO) called Agnibaan.
● Note : Hyderabad-based Skyroot Aerospace, which became the first private space startup to
launch its maiden rocket Vikram-S in 2022, marking the entry of the private sector into India's
space ecosystem.
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ISRO Successfully Executes the second landing test of Pushpak in Karnataka

● The Indian Space Research Organization (ISRO) successfully conducted the second landing test
of its reusable launch vehicle (RLV), named Pushpak, at the Aeronautical Test Range (ATR) in
Challakere near Chitradurga, Karnataka.
● The vehicle's name has been inspired by the Ramayana's mythical 'Pushpak Viman' since this
modern-day aircraft stands as a symbol of innovation and prosperity.
● ISRO conducted the first landing experiment, RLV-LEX-01, with a scaled down version of the
RLV technology demonstrator (RLV-TD) 2023 on a Chinook Helicopter of the Indian Air Force.
● The scientists have designed the Pushpak RLV as an all-rocket and fully reusable single-stage-
to-orbit (SSTO) vehicle.
● RLV-TD (technology demonstrator) is one of the most challenging endeavours of the Indian
space agency towards developing essential technologies for a fully reusable launch vehicle to
enable low-cost access to space.
About ISRO :
● Established: 15 August 1969
● Headquarters: Bangalore, Karnataka, India
● Chairman: S. Somanath
Government Expected to Ease Export Regulations for Networking Equipment and Information Security
Software
● In line with the policy to promote exports of high-tech items, the government is set to liberalise
exports of two controlled items with dual-use capabilities – networking equipment and information
security software – for certified exporters shipping the items for civilian use following specified
standards.
● The identified items are part of the the SCOMET (Special Chemicals, Organisms, Materials,
Equipment, and Technologies) list of controlled products, which includes dual-use goods with the
potential for both civilian applications as well as weapons of mass destruction, whose exports are
either prohibited or permitted under authorised licencing.
● Export Facilitation for AEO Tier 2 Certificate Holders: Exporters holding AEO (Authorized
Economic Operator) tier 2 certificates will be permitted to export the identified products,
networking equipment, and information security software, without the need for case-by-case
.
permission from authorities.

● Reporting Requirement: Under the latest proposal, exporters must submit details of their exports
on a post-export basis every quarter to the SCOMET team.
● This reporting requirement aims to facilitate monitoring and compliance while streamlining the
export process.
BEML Conducts Successful Test of Indigenous 1500 HP Military Vehicle Engine at Mysore Plant
● Defence Secretary Shri Giridhar Aramane presided over the maiden test-firing of India’s first
indigenously-made 1500 Horsepower (HP) engine for Main Battle Tanks at BEML’s Engine
division in Mysore complex.
● The successful test-firing signifies a significant advancement in India's defence capabilities,
showcasing technological prowess and a commitment to self-reliance in defence technologies.
● Cutting-edge Features: The 1500 HP engine represents a paradigm shift in military propulsion
systems, boasting cutting-edge features such as high power-to-weight ratio and operability in
extreme conditions like high altitudes, sub-zero temperatures, and desert environments.
● Project Timeline: The project commenced in August 2020 and is expected to be completed by
mid-2025.
Discovery of Active Martian Volcano 'Noctis' Reveals Evidence of Recent Glacial Activity
● Scientists discovered a massive volcano on Mars, temporarily designated ‘Noctis volcano’, that
has been active until recent times, with the possible remains of a relict glacier at its base.
● Noctis Volcano is a newly-discovered volcano located just south of Mars’ equator, in Eastern
Noctis Labyrinthus, west of Valles Marineris, the planet’s vast canyon system.
● The volcano sits on the eastern edge of a broad regional topographic rise called Tharsis, home to
three other well-known giant volcanoes: Ascraeus Mons, Pavonis Mons, and Arsia Mons.
● The discovery was made using data from a suite of missions, including NASA’s Mariner 9, Viking
Orbiter 1 and 2, Mars Global Surveyor, Mars Odyssey, and Mars Reconnaissance Orbiter.
What is a Volcano?
● A volcano is described as an opening in the earth’s crust through which gases, molten rock
materials (lava), ash, steam, etc., are emitted outward during an eruption.
● Volcanic activity occurs in regions where the rock strata are relatively weak, representing an
endogenic geological process.
.
Indian Space Research Organisation’s PSLV Orbital Experimental Module-3 (POEM-3) Achieves
Mission of Zero Orbital Debris
● The Indian Space Research Organisation (ISRO) announced that its PSLV Orbital Experimental
Module-3 (POEM-3) re-entered the Earth's atmosphere without leaving any debris in orbit.
● The PSLV-C58/XPoSat mission has practically left zero debris in orbit.
● PSLV-C58 Mission Accomplishment: The PSLV-C58 Mission was completed on January 1, 2024.
● Transformation into POEM-3: Following the primary mission of satellite deployment, the terminal
stage of PSLV was converted into a 3-axis stabilized platform known as POEM-3.
● De-orbiting Process: The stage was deliberately de-orbited from 650 km to 350 km to facilitate
early re-entry and minimize accidental break-up risks. Passivation was also performed to remove
residual propellants.
● Experimental Payloads: POEM-3 was configured with a total of 9 different experimental payloads
to conduct technology demonstrations and scientific experiments.
Gaia Telescope Unveils Two Ancient Star Streams Shaping Milky Way Over 12 Billion Years Ago
● The European Space Agency's (ESA) Gaia telescope has made a significant discovery, unveiling
two ancient streams of stars that contributed to the formation of the Milky Way galaxy over 12
billion years ago.
● Naming of Star Streams: Researchers named the discovered star streams "Shakti" and "Shiva,"
drawing inspiration from Hindu philosophy where these divine figures are believed to have united
to create the universe.
● Age and Composition: The stars comprising the Shakti and Shiva streams are estimated to be 12
to 13 billion years old, making them some of the oldest components of the Milky Way.
● Definition of Light Year:A light year is the distance light travels in a year, 5.9 trillion miles (9.5
trillion km).
● Stars, gas and dust extend from the galactic center in lengthy spiralling arms, with our sun
residing on one of those.
● Gaia's Mission : Gaia, launched in 2013, is assembling the largest and most precise three-
dimensional map of the Milky Way, measuring the positions, distances and motions of stars.
International Astronomical Union Working Group Approves 'Station Shiv Shakti' as Chandrayaan-3
.
Lander Landing Site Name

● The International Astronomical Union (IAU) working group for Planetary System Nomenclature
has approved the name 'Station Shiv Shakti' for the landing site of Chandrayaan-3's lander.
● The landing site is situated at the coordinates 69.373°S 32.319°E, positioned between the lunar
craters Manzinus C and Simpelius N.
● Naming by PM Narendra Modi: Prime Minister Narendra Modi named the moon landing site 'Shiv
Shakti' on August 26, 2023, soon after the landing of Chandrayaan-3's lander.
● He emphasized the significance of the name, relating it to resolutions for the welfare of humanity
and the strength to fulfill those resolutions, along with a sense of connection with India, from
Himalaya to Kanyakumari.
● IAU Background: The International Astronomical Union (IAU) was founded in 1919.
● It is the world’s largest professional body for astronomers.
About International Astronomical Union :
● Established : 28 July 1919
● Headquarters : Paris, France
● President : Debra Meloy Elmegreen
● The International Astronomical Union is a non-governmental organisation to advance astronomy
in all aspects, including promoting astronomical research, outreach, education, and development
through global cooperation.
RANKING AND REPORTS

India is 3rd largest digitalised country among G20 nations
 According to the State of India's Digital Economy Report, 2024, by the Indian Council for Research
on International Economic Relations (ICRIER), India is the third largest digitalised country in the
world, only behind the United States of America (USA) and China.
 However, at the level of individual users, India is ranked 12th in terms of digitalisation among the
G20 countries.
 The study is based on ‘CHIPS’ framework wherein it has scored countries on five pillars - connect,
harness, innovate, protect and sustain.
Adani Electricity Mumbai tops discoms rating chart, Torrent Power Surat 2 nd
.
 Adani Electricity Mumbai has topped the chart in the performance ranking of power distribution
companies for 2022-23.
 Torrent Power Surat and Torrent Power Ahmedabad were at second and third spots in the 12th
edition of Integrated Rating of Discoms released by Union Minister for Power and New &
Renewable Energy R K Singh.
 As many as 14 out of 55 distribution companies received the highest A+ rating.
 Utilities of Gujarat, Haryana, Karnataka, Madhya Pradesh and Andhra Pradesh were in the A+ / A
category, a power ministry release stated.
Indian bond markets eye smaller below $5 billion inflow from Bloomberg inclusion
 Indian government bond market participants informed they expect inflows of less than $5 billion
from the recent inclusion in the Bloomberg Index Services, which is unlikely to have any material
impact on bond yields.
 Bloomberg Index Services would include 34 Indian government bonds eligible for investment via
the country's fully accessible route (FAR), in its Emerging Market Local Currency Index (EMLC)
from Jan. 31, 2025.
 Indian benchmark bond yield has remained around 7.05% for the last few sessions, and is unlikely
to ease much in the near term.
New Delhi Ranked World’s Most Polluted Capital City For 4th Consecutive Year Since 2018
● New Delhi is ranked the world’s most polluted capital city for the fourth consecutive year since 2018.
● According to the Air Quality Report 2023 conducted by Swiss organisation IQAir, Delhi’s PM2.5
levels worsened from 89.1 micrograms per cubic metre in 2022 to 92.7 micrograms per cubic metre
in 2023.
● Bihar’s Begusarai has emerged as the world’s most polluted metropolitan area.
● With an average annual PM2.5 concentration of 54.4 micrograms per cubic metre, India had the
third worst air quality after Bangladesh and Pakistan.
● The report estimated that more than one billion people in India experience PM2.5 concentrations
exceeding the World Health Organisation’s recommended annual guideline level of 5 micrograms
per cubic metre.
EC Announces Para Archer & Arjuna Awardee Sheetal Devi As National PwD Icon
.
● The Election Commission has announced Para Archer and Arjuna Awardee, Sheetal Devi as its
National PwD Icon.
● Her name was announced at an Exhibition Cricket Match between the Indian Deaf Cricket
Association Team and the Delhi and District Cricket Association team held in Delhi.
● The match was organised by the Election Commission in association with the Board of Control for
Cricket in India to foster voter education and inclusivity.
● The event was graced by Chief Election Commissioner Rajiv Kumar and Election Commissioners
Gyanesh Kumar and Sukhbir Singh Sandhu
Indian Olympic Association Dissolves Ad-Hoc Committee For Wrestling

● The Indian Olympic Association, IOA dissolved the ad-hoc committee for wrestling. The committee
was formed in December last year after the sports ministry suspended the Wrestling Federation of
India
Finland ranked the world's happiest country for seventh year

● India was ranked 126th out of 143 nations in a global happiness index released which noted that
older age is associated with higher life satisfaction in the world's most populous country.
● Finland emerged as the happiest country in the world, topping the World Happiness Report 2024,
the seventh successive year that the country has occupied the top spot on the list.
● The other top 10 countries are Denmark, Iceland, Sweden, Israel, Netherlands, Norway,
Luxembourg, Switzerland and Australia.
● India is ranked 126th on the list, behind countries such as Libya, Iraq, Palestine and Niger,
according to the findings announced to mark the UN's International Day of Happiness.
Forced labour generates $236 billion illegal profits per year

● According to the International Labour Organization (ILO) forced labour in the private economy
generates $236 billion in illegal profits per year with the total amount of illegal profits from forced
labour rising by $64 billion or 37% since 2014.
● The report was titled ‘Profits and poverty: The economics of forced labour’.
● Forced labour generates illegal profits worth $36 billion per year.
● According to ILO, there were 27.6 million people engaged in forced labour on any given day in 2021.
.
The Hurun Research Institute has released the 13th edition of the 2024 Hurun Global Rich List.
● Among global billionaires of Hurun Global Rich List, Tesla CEO, Elon Musk, has re-emerged as the
richest man, boasting a fortune of $231 billion followed by Amazon founder Jeff Bezos, with a net
worth of $185 billion, Bernard Arnault ($175 billion), Mark Zuckerberg ($158 billion) and Larry
Willson ($140 billion).
● Hurun Global Rich List’s wealth calculations are a snapshot for the year ended January 15, 2024.
● It is the 13th edition of the ranking.
● Pop superstar Taylor Swift, 34, joined the billionaire club with wealth valued at $1.2 billion, earned
not through typical celebrity side hustles but through her music.
● Taylor Swift became the youngest self-made woman billionaire at 34.
● The global billionaires list witnessed as many as 94 new entrants from India. India's billionaire tally
touched 271 with their combined wealth at $1 trillion.
● India witnessed a “super strong year”, with the country adding the most new entrants to the
billionaire list, after the US (132).
● China added only 55 new faces.
● Mukesh Ambani (10th rank)i, chairman & managing director of Reliance Industries, is the only Indian
to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar
terms.
● Mumbai has pipped Beijing to become Asia's billionaire capital for the first time. New Delhi with 57
billionaires ranked 9th.
● New York has the highest concentration of billionaires (119), followed by London (97) Mumbai (92)
Beijing(91) Shanghai (87).
● India added the second-highest number of new billionaires (94) after the US (109) China ranked 3rd
with 55.
● With 271 billionaires, India is now the third-ranked country globally, surpassing Germany.
World wastes 19% of its food while 783 million face chronic hunger: UN
● The UN Environment Programme's Food Waste Index Report published, tracks the progress of
countries to halve food waste by 2030.
● The world wasted an estimated 19% of the food produced globally in 2022, or about 1.05 billion
metric tons, according to a new United Nations report.
● The U.N. stated the number of countries reporting for the index nearly doubled from the first
report in 2021.
.
● The 2021 report estimated that 17% of the food produced globally in 2019, or 931 million metric
tons (1.03 billion tons), was wasted, but authors warned against direct comparisons because of
the lack of sufficient data from many countries.
● The report is co-authored by UNEP and the Waste and Resources Action Programme (WRAP),
an international charity.
DEFENCE NEWS
Government Signs Rs 39,000-Crore Defence Acquisition Deals to Enhance Self-Reliance
 As part of ‘Aatmanirbharta in Defence’ and to further boost Make-in-India initiative, the Ministry of
Defence (MoD) signed 5 major capital acquisition contracts worth Rs 39,125.39 crore in New
Delhi.
 Aim of the deal : To strengthen indigenous capabilities, promote self-reliance, save foreign
exchange, and reduce dependency on foreign-origin equipment manufacturers in the future.
About Ministry of Defence :
 Defence Minister : Rajnath Singh
 Minister of State : Ministry of Defence
 Defence Secretary : Giridhar Aramane
India-Malaysia Conduct Bilateral Maritime Exercise 'Samudra Laksamana’

 The Indian Navy and the Royal Malaysian Navy are participating in the 3rd edition of bilateral
exercise ‘Samudra Laksamana’ from 28 Feb - 02 Mar 24 at/ off Visakhapatnam.
 Aim : To strengthen bonds and enhance interoperability between the Indian and Royal Malaysian
Navy.
 Participants : Indian Naval Ship Kiltan and Royal Malaysian Ship KD Lekir are participating in the
exercise which has harbour professional interactions followed by the operational phase at sea.
 Minister of State : Ajay Bhatt
Defence Research & Development Organisation Achieves Successful Flight Test of Very Short Range
Air Defence System
.
 Defence Research & Development Organisation (DRDO) conducted two successful flight tests of
Very Short-Range Air Defence System (VSHORADS) missile from a ground based portable
launcher off the coast of Odisha from Integrated Test Range, Chandipur.
 These tests were carried out against high speed unmanned aerial targets under different
interception scenarios.
 During all the test flights, the targets were intercepted and destroyed by the missiles, meeting the
mission objectives.
Indian Navy to Commission New MH 60R Seahawk Multi-Role Helicopter at INS Garuda, Kochi
 The Indian Navy will commission the newly inducted MH 60R Seahawk (a maritime variant of the
Blackhawk helicopter) multi-role helicopter on 06 Mar 2024 at INS Garuda, Kochi marking a pivotal
moment in India’s Defence modernisation journey.
 The Seahawks squadron will be commissioned in the Indian Navy as INAS 334.
 The helicopters are a part of the 24-aircraft FMS contract signed with the United States (US)
government in Feb 2020.
 The Indian Navy is set to witness a significant surge in its maritime prowess with the induction of
the Seahawks.
 The helicopter is designed for anti-submarine warfare (ASW), anti-surface warfare (ASuW), search
and rescue (SAR), medical evacuation (MEDEVAC) and vertical replenishment (VERTREP).
About Indian Navy :
 Chief of Defence Staff : General Anil Chauhan
 Chief of the Naval Staff : Admiral R. Hari Kumar
Indian Navy Boosts Operational Capability with Commissioning of INS Jatayu at Minicoy Island
(Lakshadweep)
 The Indian Navy will commission Naval Detachment Minicoy as INS Jatayu with Adm R Hari
Kumar, the Chief of the Naval Staff, presiding over the event.
.
 Strategic Significance: The commissioning signifies a crucial milestone in bolstering security

infrastructure in the strategically vital Lakshadweep Islands, highlighting the Navy's commitment to
enhancing regional security.
 Establishment History: Naval Detachment Minicoy was established in the early 1980s under the
operational command of the Naval Officer-in-Charge (Lakshadweep), aiming to bolster maritime
security in the region.
 Geopolitical Importance of Minicoy: Minicoy, being the southernmost island of Lakshadweep, holds
significant strategic value as it lies along the crucial Sea Lines of Communications (SLOCs), vital
for maritime trade and security.
About Indian Navy :
 Chief of Defence Staff : General Anil Chauhan
 Chief of the Naval Staff : Admiral R. Hari Kumar
Defence Minister Rajnath Singh Unveils ADITI Scheme at DefConnect 2024 to Foster Innovations in
Critical and Strategic Defence Technologies
 Raksha Mantri Shri Rajnath Singh inaugurated the Acing Development of Innovative Technologies
with iDEX (ADITI) scheme during DefConnect 2024 in New Delhi.
 Objective of the Scheme: To promote innovations in critical and strategic defence technologies,
with a particular focus on supporting start-ups.
 Financial Assistance for Start-ups: Under the scheme, start-ups can receive a grant-in-aid of up to
Rs 25 crore to support their research, development, and innovation efforts in defence technology.
 Nurturing Youth Innovation: ADITI is designed to nurture the innovation of youth and propel the
country forward in the technology domain, particularly in the defence sector.
.
Saab Commences Construction of New Carl-Gustaf M4 Weapon Manufacturing Facility in Haryana

 Swedish defence company Saab has initiated construction on a new manufacturing facility in India
for its renowned Carl-Gustaf M4 weapons.
 The groundbreaking ceremony marked the formal commencement of the project.
 The facility is situated in the state of Haryana, specifically at MET City in Jhajjar.
 Haryana was chosen due to its robust industrial base, potential partnerships, and availability of
skilled labour.
Commencement Scheduled for 1st Edition of Naval Commanders’ Conference 2024

 The first edition of the Biannual Naval Commanders’ Conference 2024 was conducted from 05 to
08 March 2024.
 The conference serves as a crucial institutional platform for discussing significant maritime security
issues at the Military-Strategic level.
 The inaugural session of the conference took place onboard the aircraft carrier Indian Naval Ship
(INS) Vikramaditya, highlighting the symbolic significance of the event.
 Follow-on proceedings were conducted in New Delhi, in hybrid format, on 07 and 08 March 2024.
Joint Exercise "Sea Defenders-2024" Commences as US Coast Guard Ship Bertholf Visits Port Blair for
Collaboration with Indian Coast Guard
 Marking a significant step in bolstering bilateral cooperation between the Indian Coast Guard (ICG)
and the United States Coast Guard (USCG), the USCG Ship Bertholf reached Port Blair for a joint
exercise with the Indian Coast Guard (ICG).
 Codenamed “Sea Defenders-2024” the joint exercise is scheduled to take place on 09-10 Mar
2024 off the coast of Port Blair.
 The exercise will simulate scenarios relevant to maritime piracy and asymmetric threats, including
simulated drone attacks on commercial merchant traffic, joint maritime search and rescue
operations, major firefighting, marine pollution response, and counter-drug interdiction exercises.
China and Maldives Forge New Defence Agreements Amid Strained Relations between Malé and New
Delhi
 A defence cooperation agreement has been signed between China and the Maldives to foster
stronger bilateral ties.
.
 The Maldives is poised to receive free military aid from China following a diplomatic dispute with
India.
 The agreement between Beijing and Malé was signed by the Maldivian minister of defence
Mohamed Ghassan Maumoon and Major General Zhang Baoqun, the Chinese deputy director of
the office for international military cooperation.
About China :
 Capital : Beijing
 Currency : Renminbi
About Maldives :
 President : Mohamed Muizzu
 Capital : Malé
 Currency : Maldivian rufiyaa
Indian Navy Inaugurates Indian Naval Ship Jatayu at Minicoy, MH-60R Helicopter Squadron at Kochi
 The Indian Navy commissioned Indian Naval Ship (INS) Jatayu, at Minicoy island in the
Lakshadweep Islands, its second base in Lakshadweep after INS Dweeprakshak in Kavaratti.
 The Navy has also commissioned its first MH-60R multi-role helicopter squadron INAS 334
‘Seahawks’ at Kochi, a major capability boost for its rotary fleet and its anti-submarine warfare
capabilities.
 New Delhi had signed an agreement with Washington to buy 24 of these choppers and 6 have
been delivered so far.
Indian Navy offers support to Liberian-flagged container vessel, MSC SKY II
 Indian Naval Ship (INS) Kolkata mission-deployed in the Gulf of Aden responded to a request from
MSC Sky II, a Liberian-flagged Container Vessel, which was reportedly attacked by a drone/
missile, at about 1900 h (IST), approximately 90 nm South East of Aden.
 INS Kolkata was promptly diverted to provide necessary assistance and reached the location of the
incident by 2230 hours (IST) the same day.
Instir, Flagship of First Training Squadron, Engages in Exercise Cutlass Express 2024 in Port Victoria,
.
Seychelles, February 26th - March 8th, 2024

● INSTIR, the lead ship of First Training Squadron 1TS participated in Exercise Cutlass Express
2024 held at Port Victoria, Seychelles from 26 Feb – 08 Mar 2024.
● The exercise was inaugurated by the President of Seychelles in attendance of dignitaries from
India, the United States of America (USA) and African countries.
● As part of Cutlass Express, Indian Navy actively engaged with participants from 16 friendly
foreign countries.
● During the sea phase, the ship's VBSS team boarded the Seychelles Coast Guard (SCG) ship
LE Vigilant and demonstrated the procedures of boarding operations.
● It is a premier multinational maritime exercise sponsored by the U.S. Africa Command
(AFRICOM) and led by U.S. Naval Forces Europe-Africa/U.S. Sixth Fleet.
● The Indian Navy has been participating in the exercise since 2019.
● Defence Minister : Rajnath Singh
● Minister of State : Ajay Bhatt
● Defence Secretary : Giridhar Aramane
China, Iran, and Russia Conduct Joint Drills Near Gulf of Oman to Ensure Regional Maritime Security
● China, Iran, and Russia initiated a joint naval exercise named "Security Belt-2024" near the Gulf
of Oman.
● Purpose of Exercise: The exercise aims to safeguard regional maritime security, explicitly stating
that it does not target any third country or current regional tensions.
● This marks the fourth joint naval exercise conducted by the three countries since 2019.
● The joint exercise kicked off after Chinese warships arrived in waters near Chabahar, Iran and
rendezvoused with participating Iranian and Russian naval vessels.
● Exercise Theme: The exercise revolves around the theme of "jointly building peace and security."
● It focuses on anti-piracy and search and rescue training courses and is organized into 3 phases:
harbour phase, sea phase, and summarize phase.
Participating Forces :
● China : 3 warships of the People's Liberation Army (PLA) Navy's 45th escort task force that just
wrapped up escort missions in the Gulf of Aden, namely the Type 052D guided missile destroyer
Urumqi, the Type 054A guided missile frigate Linyi and the Type 903A comprehensive
.
replenishment ship Dongpinghu

● Iran: Over 10 vessels, including the frigates Alborz and Jamaran
● Russia: The guided-missile cruiser Varyag and the large anti-submarine warfare ship Marshal
Shaposhnikov.
● Observer Nations: Envoys from the militaries of Azerbaijan, India, Kazakhstan, Oman, Pakistan,
and South Africa attended the exercise as observers.
About China:
● President: Xi Jinping
● Capital: Beijing
● Currency: Renminbi
About Iran :
● President : Ebrahim Raisi
● Capital : Tehran
● Currency : Iranian rial
About Russia :
● President : Vladimir Putin
● Prime Minister : Mikhail Mishustin
● Capital : Moscow
● Currency : Ruble
Prime Minister Shri Narendra Modi Observes 'Bharat Shakti' Tri-Services Firing and Manoeuvre
Exercise in Pokhran, Rajasthan
● Prime Minister Shri Narendra Modi, along with delegates from over 30 nations, witnessed the tri-
service exercise called 'Bharat Shakti' at the Pokhran field firing range in Jaisalmer, Rajasthan.
● Aim of the exercise : To demonstrate the calibrated tactical use of advanced technology in a tri-
services environment against perceived threats.
● It showcases indigenous weapon systems and platforms, aligning with India's Aatmanirbharata
(self-reliance) initiative.
● Platforms Demonstrated: Various indigenous weapon systems and platforms were showcased
during the exercise, including LCA Tejas, ALH Mk-IV, mobile anti-drone system, T90 tanks,
Dhanush, K9 Vajra, and Pinaka.
● Pokhran's Significance : Pokhran is a remote location in the Thar Desert of Rajasthan’s Jaisalmer
.
district.
● The Test Range in Pokhran hosted the detonation of India’s first nuclear device in 1974.
Indian Army Contingent Sets Off to Seychelles for Joint Military Drill 'Exercise Lamitiye – 2024
● Indian Army contingent departed for Seychelles to participate in the 10th edition of Joint Military
Exercise “LAMITIYE-2024” between the Indian Army and Seychelles Defence Forces (SDF).
● The Joint Exercise will be conducted in Seychelles from 18-27 March 2024.
● Aim of the Exercise : To enhance interoperability in Sub-conventional Operations in Semi-Urban
environments under Chapter VII of the United Nations Charter on Peacekeeping Operations.
About the Exercise LAMITIYE :
● ‘LAMITIYE’ meaning ‘Friendship’ in the Creole language is a biennial training event and has been
conducted in Seychelles since 2001.
● Participating Forces:45 personnel each from the GORKHA RIFLES of the Indian Army and the
Seychelles Defence Forces (SDF) will participate in the exercise.
● Objective:Enhance cooperation and interoperability between the Indian Army and Seychelles
Defence Forces during Peacekeeping Operations.
● The 10 days long Joint Exercise will include Field Training Exercise, combat discussions,
lectures & demonstrations, which culminates with two days of Validation Exercise.
India and United States to Conduct Bilateral Humanitarian Assistance and Disaster Relief Exercise
'Tiger Triumph - 24' on Eastern Seaboard
● In consonance with the established partnership between India and the United States (US), a
bilateral tri-service Humanitarian Assistance and Disaster Relief (HADR) Exercise between both
countries, Tiger Triumph – 24, is scheduled on the Eastern Seaboard from 18 to 31 March 2024.
● Aim : To develop interoperability for conducting HADR operations and refine Standard Operating
Procedures (SOPs) to enable rapid and smooth coordination between the forces of both
countries.
Participants:
● Indian Navy Ships with integral helicopters and landing crafts embarked, Indian Navy aircraft,
Indian Army personnel and vehicles, Indian Air Force aircraft and helicopters, and the Rapid
Action Medical Team (RAMT) will participate from the Indian side.
● The US will be represented by US Navy Ships with embarked troops of the US Marine Corps and
.
US Army.
Indian Navy's 3rd Station Commanders' Workshop Set to Take Place in New Delhi from March 18-20,
2024
● The 3rd edition of the Station Commanders' Workshop of the Indian Navy is scheduled from
March 18-20, 2024, in New Delhi.
● The workshop follows the successful conduct of two previous editions held at INS Hamla in
Mumbai (Southern Naval Command) and INS Circars (Eastern Naval Command).
● Objective: To facilitate brainstorming and exchange of ideas among naval leadership to enhance
the overall administration of naval stations nationwide.
● Participants: More than 100 Station Commanders, Unit Heads, and Commanding Officers from
various naval stations across India, including the island territories of Lakshadweep and Andaman
& Nicobar Islands, will participate.
● History : 2nd edition of Station Commanders Workshop, an assembly of all the Station
Commanders across the Navy who provide administrative and functional support to Operational
units, commenced at Visakhapatnam on 09 Oct 2023.
Indian Army Establishes Specialized Technology Unit 'STEAG' for Future Warfare
● The Indian Army has established the "Signals Technology Evaluation and Adaptation Group"
(STEAG) as a specialized technology unit focused on researching and evaluating next-
generation communication technologies for defence applications and future warfare.
● Focus Areas: STEAG's research and evaluation areas include Artificial Intelligence (AI), 5G and
6G networks, machine learning, and quantum technologies, emphasizing the importance of
staying abreast of technological advancements for future warfare.
● The move is in sync with the realisation in the Indian armed forces to equip themselves with next-
generation fighting capabilities.
● In addition to STEAG, the Army decided to operationalize command cyber operations and
support wings (CCOSW) for cyber warfare last year, highlighting the growing emphasis on cyber
capabilities.
● Scope and Mandate of STEAG: STEAG, under the Corps of Signals, will nurture and develop
tailored technologies across wired and wireless systems, including electronic exchanges, mobile
communications, Software Defined Radios (SDR), Electronic Warfare (EW) systems, 5G and 6G
.
networks, Quantum Technologies, Artificial Intelligence, and Machine Learning.

About Indian Army :
● Established : 26 January 1950
● Chief of Defence Staff : General Anil Chauhan
● Chief of the Army Staff : General Manoj Pande
Indian Army Launches Elite Technology Unit Signals Technology Evaluation and Adaptation Group to
Pioneer Future Communication Technologies
● The Indian Army has initiated the establishment of the Signals Technology Evaluation and
Adaptation Group (STEAG), a unit dedicated to researching and evaluating futuristic
communication technologies.
● Signals Technology Evaluation and Adaptation Group is a unit dedicated to researching and
evaluating futuristic communication technologies like 6G, Artificial Intelligence (AI), machine
learning and quantum computing for military applications.
● Objective: To nurture technologies across wired and wireless systems, covering a wide spectrum
of domains including electronic exchanges, mobile communications, software-defined radios,
electronic warfare systems and more.
About Indian Army :
● Chief of the Army Staff : General Manoj Pande
Indian Navy Conducts Ongoing Maritime Security Operations (Operation Sankalp) from 14th December
2023 to 23rd March 2024
● Indian Navy has responded to the manifestation of Israel – Hamas conflict in the maritime domain
by re-orienting and significantly enhancing the scope of its ongoing maritime security operations
since mid-Dec 23.
● The navy undertook proactive actions during the hijacking of Malta Flagged Bulk Carrier MV
Ruen on 14 Dec 23.
● 23 Mar 2024, marks the completion of 100 days of the ongoing maritime security operations
under the aegis of ‘Op Sankalp’.
● During this time, the Indian Navy has responded to 18 incidents and has played a pivotal role as
the ‘First Responder’ and ‘Preferred Security Partner’ in the Indian Ocean Region.
.
About Indian Navy :

● Chief of the Naval Staff : Admiral R. Hari Kumar
● Defence Minister : Rajnath Singh
● Minister of State : Ajay Bhatt
● Defence Secretary : Giridhar Aramane
United Kingdom Ministry of Defence Successfully Tests First Laser Weapon 'DragonFire
● The successful testing of the "DragonFire" laser weapon by the United Kingdom's (UK) Ministry
of Defence (MoD) represents a significant milestone in the country's military technology
development.
● Purpose and Functionality: "DragonFire" is a high-powered laser designed specifically to target
and neutralize drones.
● Purpose and Functionality: "DragonFire" is a high-powered laser designed specifically to target
and neutralize drones.
● It offers a potentially cost-effective alternative to traditional missile-based air defense systems.
● Dual Usage: The "DragonFire" laser weapon is intended for use by both the Army and the Royal
Navy, indicating its versatility and potential for enhancing air defense capabilities across various
branches of the military.
SUMMITS AND CONFERENCE

First-ever India pavilion inaugurated at Game Developers Conference in San Francisco
● The first-ever India pavilion has been inaugurated at the prestigious Game Developers Conference
in San Francisco, reflecting a new dimension of the bilateral relationship between India and the US.
● The inauguration also saw the launch of the 'India Gaming Market Report'.
● It was done in collaboration with the US-India Strategic and Partnership Forum and its member
WinZO.
● According to the report, India's gaming market is expected to grow from USD 3.1 billion in 2023 to
USD 6 billion in 2028.
.
BOOKS & AUTHORS

From A Car Shed To The Corner Room & Beyond authored by S Raman
● A book titled “From A Car Shed To The Corner Room & Beyond” is written by S Raman.
● S Raman, who retired as CMD of Canara Bank, and as a whole time Member of the board of
SEBI, rose to the top, having started his career as a clerk with SBI.
● Within two years, he was selected as a direct recruit officer in Bank of India and rose meteorically
to be an Executive Director in Union Bank and then as CMD of Canara.
● He hails from a middle-class Tamil family in Hyderabad.
SPORTS NEWS
India takes the top place in the standings of the ICC World Test Championship.
 The Indian Men's Cricket Team has reached on top in the World Test Championship (WTC)
standings, replacing New Zealand in the latest rankings issued.
 The International Cricket Council (ICC) updated their WTC points table, in which India moved to
the top of the points table, following Australia's victory over New Zealand in the Wellington Test.
 India is currently leading the five-match test series against England 3-1, and a win in the final
match of the series will further strengthen their position in the WTC points table.
Indian Grandmaster R Praggnanandhaa wins the Prague Masters Chess match against fellow
countryman Vidit Gujrathi.
 Indian Grandmaster R Praggnanandhaa defeated compatriot Vidit Gujrathi in the fifth round of
Prague Masters Chess in the Czech Republic.
 In the other match, D. Gukesh went down against the Czech Republic's David Navara.
 Praggnanandhaa shares the fourth spot with Navara and Gukesh with four rounds to play.
 In the Challengers section, Grandmaster R. Vaishali went down to Erwin L’Ami of Holland.
 The Prague Chess Festival is taking place from February 27 to March 7 at the Don Giovanni Hotel.
Indian shuttler B Sai Praneeth announces retirement from international badminton
 Indian shuttler B Sai Praneeth has announced his retirement from international badminton.
 The 31-year-old battled nagging injuries since the Olympic Games in Tokyo and decided to hang
his boots due to that.
 Praneeth confirmed the news on his social media accounts.
.
 In his 24-year-long career, he won a World Championships bronze medal and represented India at
the Tokyo 2020 Olympics.
 Following his retirement, Praneeth who has also won the 2017 Singapore Open, is set to begin a
new innings as the head coach of the Triangle Badminton Academy in the US.
Uzbek Abdusattorov is defeated by Indian Grandmaster R Praggnanandhaa in the Prague International

Chess Festival in 2024.
 Indian Grandmaster R Praggnanandhaa defeated Nodirbek Abdusattorov of Uzbekistan in the
sixth round of the Prague International Chess Festival 2024 Masters to retain the fourth spot in the
tournament.
 Abdusattorov remains as the sole leader despite the loss.
 India's Vidit Gujrathi went down against Germany's Vincent Keymer from a winning position.
 Gukesh D also lost his match against Mateusz Bartel of Poland.
 The Prague Chess Festival is taking place from February 27 to March 7 at Don Giovanni Hotel.
Max Verstappen wins season-opening Bahrain Grand Prix amid Red Bull turmoil
 Formula 1 champion Max Verstappen eased to victory in the season-opening Bahrain Grand Prix
despite the turmoil surrounding his Red Bull team principal Christian Horner.
 Verstappen started in pole position and was never seriously challenged on his way to a
commanding one-two win for Red Bull ahead of his teammate Sergio Perez.
 Carlos Sainz Jr. was third for Ferrari after fighting hard with teammate Charles Leclerc.
 The 2024 FIA Formula One World Championship is a motor racing championship for Formula One
cars and is the 75th running of the Formula One World Championship.
Indian Paralympic Committee's ban is immediately lifted by the Sports Ministry.

 The Sports Ministry has revoked the suspension of the Paralympic Committee of India (PCI) with
immediate effect.
 The Paralympic Committee of India that the main ground for suspension is being addressed and
PCI will be hosting the 2024 World Shooting Para Sport World Cup from 6th March to 15 March
2024 at New Delhi.
 The Ministry in February this year, had suspended the government recognition of PCI due to delay
in holding the election after the expiry of the term of the executive committee of PCI and non-
compliance with its guidelines.
.
Khelo India athletes now eligible for government jobs

 The Khelo India athletes will now be eligible for government jobs.
 In this regard, the Department of Personnel and Training and Sports Ministry have made
progressive revisions to the eligibility criteria for sportspersons seeking government jobs
 Union Sports Minister Anurag Singh Thakur, groundbreaking step now extends eligibility to medal
winners from Youth, University, Para and Winters Games of Khelo India Games to be eligible for
government jobs.
Union Minister of Petroleum and Natural Gas Hardeep S Puri inaugurates 5th ONGC Para Games
 The Minister Hardeep S Puri inaugurated the 5th ONGC Para Games being held in Thyagaraj
Stadium, New Delhi from 8-10 March 2024.
 Shri Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas (MoPNG) and senior officials
from Oil & Gas PSUs attended the event.
 Shri Hardeep Singh Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs, The
ONGC Para Games is a testament to the spirit of the participating athletes.
Satwiksairaj Rankireddy and Chirag Shetty win Doubles title at French Open badminton tournament in
Paris
 Indian pair Satwiksairaj Rankireddy and Chirag Shetty have clinched their second French Open
Men's doubles Badminton title.
 The Indian top seed registered a straight games victory over Yang Po-han and Lee Jhe-huei of
Taiwan in the final 21-11, 21-17.
 Satwik and Chirag had earlier won the title in 2022.
India is ranked first in all three formats and first in the ICC Test rankings.
 India crushed England in Dharamsala to win the five-match series 4-1, Rohit Sharma's side
claimed the top spot in the ICC Test rankings, overtaking Australia in the latest rankings released
by the world governing body for Cricket in Dubai.
 India, who are already heading the World Test Championship standings, are now at the summit of
the ICC rankings in all three formats of the game.
 Rohit's side will remain at the top of the chart, irrespective of the result of the second Test between
New Zealand and Australia currently underway in Christchurch.
Indian Athlete Gulveer Singh Shatters a 16-Year-Old National Record By Over 20 Seconds In The Ten
Event At San Juan Capistrano In California
● Indian Athlete Gulveer Singh shattered a 16-year-old national record by over 20 seconds by clocking
.
27.41.81 in The Ten event at San Juan Capistrano in California.

● The 25-year-old finished second in the men’s 10000m race.
● However, the Asian Games Bronze medallist failed to qualify for the Paris Olympic Games as he
missed the qualification time of 27:00.00 by over 41 seconds.
Six-Time Miami Open Champion Novak Djokovic Confirms Withdrawal From Miami Open Citing
Scheduling Issues
● Six-time Miami Open champion Novak Djokovic confirmed to pull out of the upcoming Tennis
Tournament.
● The top-ranked 36-year-old Serbian star apologised to his Miami fans on a social media platform,
citing the balance between his “private and professional schedule at this stage of his career.
● The shock came at the hands of Luca Nardi, a 20-year-old Italian ranked No. 123, who managed to
secure a victory with scores of 6-4, 3-6, 6-3 in the third round.
Matthew Wade retires from red-ball cricket to focus on shorter formats

● Australian wicketkeeper-batter Matthew Wade, will retire from first-class cricket after the upcoming
Sheffield Shield final but will remain available for selection in white-ball formats.
● Former Australian Test wicketkeeper Matthew Wade has called time on the red-ball game, but will
continue playing cricket’s shorter formats.
● The Sheffield Shield final between Tasmania and Western Australia, beginning here on March 21,
will be Wade's final red-ball match of a career that started in 2012.
● After that game, the left-handed batter will join Gujarat Titans for IPL 2024, though he will miss the
first couple of matches as the Shield final clashes with the league's schedule.
About Australia
● Capital: Canberra
● Currency: Australian Dollar
● Prime Minister: Anthony Albanese
Recently Retired Cricketers
● Saurabh Tiwary- India
● Varun Aaron- India
● Manoj Tiwary- India, and
● Faiz Fazal- India
RCB conquer Delhi Capitals by 8 wickets, clinch maiden title
.
● Royal Challengers Bangalore defeated Delhi Capitals by eight wickets in the Women's Premier
League 2024 final, in New Delhi.
● After bundling out Delhi for 113, RCB reached 115/2 in 19.2 overs.
● Richa Ghosh (17*) hit the match-winning four, wrapping up proceedings with Ellyse Perry (35*).
Lakshya Sen & P.V. Sindhu To Begin Campaign On Opening Day Of Swiss Open Tournament In Basel
● The 2024 edition of the Swiss Open Super 300 Badminton tournament will begin in Basel,
Switzerland.
● In the Men’s Singles category, India’s Lakshya Sen, seeded seventh, will start his campaign against
Leong Jun Hao of Malaysia in the round of 32, while Kidambi Srikant will face Wang Tzu-wei of
Taiwan.
● In Women’s Singles, fourth-seeded P V Sindhu is scheduled to face Germany’s Yvonne Li in the
round of 32.
● In Women’s doubles, the sixth-seeded duo of Ashwini Ponnappa and Tanisha Crasto will take on
Indonesia’s Meilysa Trias Puspitasari and Rachel Allessya Rose, while another Indian pair of Treesa
Jolly and Gayatri Gopichand, will lock horns with Annie Xu and Kerry Xu of the USA.
India’s sports industry revenues grew 11 per cent to cross ₹15,000 crore mark in 2023
● India’s sports industry clocked a growth of 11 per cent recording a total revenue of ₹15,766 crore in
2023 over 2022, as per a report released by GroupM ESP.
● The revenues include sponsorships, media spending and endorsement fees.
● Nearly 87 per cent of the sports industry’s revenues came from cricket amounting to ₹13,701 crore
in 2023, up 13 per cent.
● Sponsorship spending surged to ₹7,345 crore in 2023 up 24 per cent over 2022 primarily driven by a
significant increase in franchise fees indicating the robustness of India’s franchising ecosystem led
by IPL and WPL.
● But, overall media spending on sports was almost flat and stood at ₹7,494 crore in 2023 (down 1 per
cent over 2022).
Lakshya Sen jumps five places to reach world number 13 in latest BWF rankings
● India’s Lakshya Sen jumped five places to reach world number 13 in the latest BWF rankings,
following his impressive run at the All England Championships.
.
● The 22-year-old from Almora had reached the semifinals in Birmingham and his effort saw him
improve to world number 12 from the 15th spot a week back in the Olympic Games Qualification.
● HS Prannoy is at number 9 in the Paris race and Sen too is primed to cut.
● Among others, World Championships and Asian Games bronze medallist HS Prannoy was in ninth
position, followed by Kidambi Srikanth ( 27th) and Priyanshu Rajawat (32nd).
● In the women’s singles, two-time Olympic medallist PV Sindhu is in 11th position.
● The Indian men’s doubles pair of Satwiksairaj Rankireddy and Chirag Shetty was at the top position,
while Ashwini Ponnappa and Tanisha Crasto were ranked 20th. Compatriots Treesa Jolly and
Gayatri Gopichand slipped to 26th place.
India’s Sathiyan Gnanasekaran Clinches Men’s Singles Title At World Table Tennis Feeder Beirut
Tournament In Lebanon
● In Table Tennis, India’s Sathiyan Gnanasekaran has clinched the Men’s Singles title at the WTT
Feeder Beirut tournament in Lebanon.
● World Number 103 Sathiyan defeated compatriot and World Number 74 Manav Vikas Thakkar, 3-1
(6-11, 11-7, 11-7, 11-4) victory over compatriot Manav Vikas Thakkar in the final.
● Indian paddlers finished the tournament with two titles and three runner-ups.
Mary Kom was named Chef De Mission for the Paris Olympics
● Six-time women's boxing World Champion Mary Kom was appointed Chef de Mission of the Indian
contingent for the Paris Olympics, while veteran table tennis player and CWG champion Sharath
Kamal will be the country’s flag bearer at the Games.
● The 41-year-old table tennis player symbolises “the unity and spirit of our contingent as they
compete on the Olympic stage”, the Indian Olympic Association (IOA) said in a statement while
making the announcement.
FIFA Cancels Japan & North Korea World Cup Qualifier

● Soccer’s world governing body, FIFA, has cancelled a World Cup qualifier between Japan and North
Korea which was scheduled to be played on 26th March in Pyongyang.
● FIFA announced the decision on its website, saying it decided in the absence of an alternative
venue confirmed by North Korea and the lack of space in the calendar to postpone this game.
● The announcement followed a notification by the North that it could no longer host the match.
.
Badminton World Federation Announces Draws For Upcoming 2024 Thomas And Uber Cup
Tournaments In Chengdu, China
● The Badminton World Federation has announced the draws for the upcoming 2024 Thomas and
Uber Cup tournaments in Chengdu, China.
● Defending champion Indian men’s team has been clubbed with tournament’s most successful team,
Indonesia.
● India will also face Thailand and England in Group C.
● India made history by clinching the Thomas Cup in 2022 with an impressive victory over Indonesia in
Bangkok.
● Meanwhile, in the Uber Cup, the Indian women’s badminton team has been placed in Group A with
China, Canada and Singapore.
Maharashtra’s Naheed Divecha Won 2 Gold Medals In Indian Masters National Badminton
Championship 2024 In Panchkula
● Maharashtra’s Naheed Divecha has won two gold medals in the Indian Masters National Badminton
Championship 2024 in Panchkula.
● Divecha, a member of the Bombay Gymkhana and associated with Shuttle Craze Academy clinched
the Women’s 50 singles title by defeating Haryana’s Sunita Singh Panwar in straight sets.
● Later, the duo of Naheed Divecha and Kiran Mokade grabbed the Mixed Doubles 50 title with an
impressive win over the top-seeded Karnataka pair of Prabagaran Subbaiyan and Jayashree Raghu
in straight sets.
Figure Skating: Japan’s Kaori Sakamoto Wins 3rd Straight World Title
● Japan’s Kaori Sakamoto has become the first woman to win three straight titles at the Figure Skating
World Championships since 1968.
● The 2022 Olympic bronze medalist staged a nearly flawless routine featuring multiple triple jumps in
her free skate.
● 17-year-old American Isabeau Levito won Silver while Kim Chae-yeon of South Korea took bronze.
Sreeja Akula Wins Women’s Singles Title At WTT Feeder Beirut II 2024 Table Tennis Tournament
● In Table Tennis, India’s Sreeja Akula won the women’s singles title at the WTT Feeder Beirut II 2024
table tennis tournament at the Al Kawthar Secondary School in Lebanon.
● Akula, the world No. 47, beat Luxembourg’s Sarah De Nutte to win what was her second WTT
.
singles career title.

● For the mixed doubles crown, India’s Poymantee Baisya and Akash Pal beat Sathiyan
Gnanasekaran and Manika Batra, while in Men’s Doubles Final, Manush Shah and Manav Thakkar
won the event of the WTT Feeder Beirut- II tournament in Lebanon.
Satwik-Chirag clinches French Open 2024 title, beats Jhe Huei-Po Hsuan from Chinese Taipei
● Satwiksairaj Rankireddy and Chirag Shetty claimed their first title of the year at the French Open
after brushing aside their opponents from Chinese Taipei, Lee Jhe Huei-Yang Po Hsuan, in just 36
minutes in the French Open 2024.
● This is the first title the Indians have won in 2024 and their seventh world tour title.
About French Open
● The French Open is an annual badminton tournament held in France since 1909 and hosted by the
Fédération Française de Badminton (FFBad).
● BWF categorised the French Open as one of the five BWF World Tour Super 750 events per the
BWF events structure since 2018.
USA secures third straight Concacaf Nations League title with 2-0 victory over Mexico
● The United States clinched their third consecutive Concacaf Nations League title with a commanding
2-0 victory over Mexico in the final of the 2023-24 Concacaf Nations League Finals at AT&T Stadium
in Arlington, Texas, USA
● were the heroes for the USA, each finding the back of the net to secure the historic win against their
arch-rivals
IIT Madras to host the 6th Shaastra Rapid FIDE Rated Chess Tournament.
● An International Chess Federation (FIDE)-rated Rapid Chess Tournament will be hosted by IIT
Madras on March 30 and 31, 2024.
● The '6th Shaastra Rapid FIDE Rated Chess Tournament’ will witness the participation of six
Grandmasters, sixteen International Masters, three Women Grandmasters and a Women
International Master.
● The total prize fund of the tournament is ₹5,00,000 with the first prize being ₹65,000.
Sreejesh and Camila Caram were appointed as co-chairs in the FIH Athletes Committee
● Former Indian men’s hockey team captain and its goalkeeper goalkeepers PR
Sreejesh and Camila Caram of Chile have been appointed by the International Hockey
.
Federation (FIH) as co-chairs of the FIH Athletes Committee.

● President Dilip Tirkey of Hockey India welcomed the appointment of PR Sreejesh.
OBITUARIES
Creator of 'Dragon Ball' Series and Renowned Anime Artist, Akira Toriyama, Passed Away
 Akira Toriyama, the creator of the widely popular "Dragon Ball" comics and anime, has passed
away at the age of 68.
 Akira Toriyama, born on April 5, 1955, was a renowned Japanese manga artist and character
designer.
Ex-Navy Chief Admiral Who Fought for Peoples' Rights, Laxminarayan Ramdas passed away
● Former Navy Chief Admiral (retired) Laxminarayan Ramdas passed away at the age of 90.
● Ramdas was born on September 5, 1933 in Matunga, Mumbai.
● He served as the 13th Chief of Naval Staff (CNS) between December 1990 and September
1993.
Tribal Leader Lama Lobzang Passed Away

● Former member of the National Commission for Scheduled Castes and Scheduled Tribes and
Prominent Buddhist Monk of Ladakh popularly known as Lama Lobzang passed away in New
Delhi at the age of 94.
About National Commission for Scheduled Castes :
● Chairman : Kishor Makwana
● The National Commission for Scheduled Castes is an Indian constitutional body under the
jurisdiction of the Ministry of Social Justice and Empowerment, Government of India.
● Article 338 of the Indian constitution deals with the National Commission for Scheduled Castes.
● Article 338 A deals with the National Commission for Scheduled tribes.
Renowned Rabindra Sangeet Singer Sadi Mohammad Passed Away

● In Bangladesh, legendary Rabindra Sangeet singer and composer Sadi Mohammad passed
● In 2017, Mohammad was honoured with the Lifetime Achievement Award by Channel i.
.
● He received the Rabindra Award from the Bangla Academy in 2025.
Former Pakistan Test captain Saeed Ahmed passes away

● Saeed Ahmed, the former Pakistan Test captain and a dashing batsman of his time, passed
● His last Test match was during Pakistan's tour of Australia in 1972-73, played in Melbourne.
● Throughout his Test career, he played 41 matches, accumulating 2,991 runs, including five
centuries and 16 half-centuries.
● He was Pakistan's sixth Test captain and replaced Muhammad as skipper of the side during
England's tour of Pakistan in 1969.
Former Pakistan Cricket Board Chairman and Diplomat Shaharyar Khan, Born in Bhopal, Passed Away
● Shaharyar Khan, a career diplomat and former Pakistan Cricket Board (PCB) chairman who
played a big role in restoring cricket ties with India in the early 2000s passed away at the age of
89.
● Born in Bhopal, Shaharyar Khan was a career diplomat and a cousin of former Indian cricket
captain, Mansur Ali Khan Pataudi.
Chief of Ramakrishna Mission, Swami Smaranananda Maharaj, Passed Away

● Swami Smaranananda Maharaj, president of Ramakrishna Math and Ramakrishna Mission,
Passed away at the age of 95 in Kolkata.
● He was born in 1929 in Thanjavur in Tamil Nadu.
● He was elected as the 16th President of Ramakrishna Math and Ramakrishna Mission during a
meeting of the Math's Board of Trustees and the Mission's Governing Body on July 17, 2017.
Nobel Prize-Winning Behavioral Economist Daniel Kahneman, Pioneer in His Field Passed away
● Daniel Kahneman, an Israeli-American psychologist who broke ground in the field of behavioural
economics and upended the common assumption in economics that human beings are rational
decision-makers, died at the age of 90.
● Kahneman was born in Tel Aviv, Mandatory Palestine (now Israel), on March 5, 1934.
● He is also known for his work in behavioural economics, for which he was awarded the 2002
Nobel Memorial Prize in Economic Sciences (shared with Vernon L. Smith)
.
● In 2013, former US president Barack Obama awarded Kahneman with the Presidential Medal of
Freedom, the country’s highest civilian honour
● His latest book, “Noise”, focused on the unwanted variability, as opposed to bias, in judgments
that should be identical.
Nottingham Forest Legend Larry Lloyd, Twice European Cup Winner Passed away
● Larry Lloyd, twice a European Cup winner with Nottingham Forest, has passed away at the age
of 75.
● His career with local side Bristol Rovers before being signed by legendary Liverpool manager Bill
Shankly for £50,000 in 1969.
● He also won the First Division title and Uefa Cup with Liverpool, was a key player in the Forest
side which won the European Cup in 1979 and 1980 under manager Brian Clough.
● He won four England caps and later managed Wigan and Notts County after the end of a trophy-
laden career as a player.

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Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

2. BANKING AND ECONOMY 09

5. INTERNATIONAL NEWS 102

6. STATE NEWS 107

7. BUSINESS NEWS 118

8. APPOINTMENTS & RESIGNATIONS 131

9. ACQUISITIONS & MERGERS 154

10. AWARDS AND HONOURS 158

11. MOUS AND AGREEMENT 167

12. SCIENCE & TECHNOLOGY 180

13. RANKING AND INDEXES 190

14. DEFENCE NEWS 194

15. BOOKS AND AUTHORS 205

16. SPORTS NEWS 205

17. OBITUARIES 213

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

World Hearing Day 2024: 3rd March

Important Monthly Current Affairs Capsule – March 2024

PI Day 2024: March 14th 2024

Important Monthly Current Affairs Capsule – March 2024

 Pi Day 2024 celebrates the mathematical constant π (3.14).

World Consumer Rights Day 2024: March 15

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Important Monthly Current Affairs Capsule – March 2024

World Water Day 2024: March 22

Important Monthly Current Affairs Capsule – March 2024

BANKING & FINANCE

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

 Headquarters : Mumbai, Maharashtra, India

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

 Financial Intelligence Unit-India (FIU-IND) is an organisation under the Department of Revenue,

State Bank of India Achieves Landmark of 500 Million Customers

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

 Headquarters : Noida, Uttar Pradesh, India

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Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

 Headquarters : Mumbai, Maharashtra

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Important Monthly Current Affairs Capsule – March 2024

RBL Bank Introduces GO Savings Account with Zero Balance Requirement

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

 MD & CEO : Dilip Asbe

Important Monthly Current Affairs Capsule – March 2024

Important Monthly Current Affairs Capsule – March 2024

Small savings schemes Interest rates for April-June 2024