Daily Current Affairs – March 11 & 12, 2024
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Daily Current Affairs - Banking - March 11 & 12, 2024
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National News
Citizenship Amendment Act rules notified, four years after the law was passed
- Ministry of Home Affairs (MHA) notified the Citizenship Amendment Rules, 2024 that would enable the implementation of the Citizenship Amendment Act (CAA) passed by the Parliament in
- Though the legislation facilitates citizenship to undocumented people belonging to Hindu, Sikh, Buddhist, Parsi, Christian and Jain community from Pakistan, Bangladesh and Afghanistan, the rules state that the applicants will have to provide six types of documents and specify “date of entry” in India.
- The Act was passed on December 11, 2019, receiving assent from the President on December 12 the same year.
- The MHA had earlier notified that the Act will come into force from January 10, 2020.
- Since the rules were not framed yet, the Act could not be implemented.
- The list of permissible documents includes birth certificate, tenancy records, identity papers, any licence, school or educational certificate issued by a government authority in Afghanistan, Pakistan and Bangladesh.
- The applicants will have to produce an “eligibility certificate” issued by a “locally reputed community institution” confirming that he/she belongs to “Hindu/ Sikh/ Buddhist/ Jain/ Parsi/ Christian community and continues to be a member of the above mentioned community.”
- The users will have to register on the portal https://indiancitizenshiponline.nic.in and a mobile application CAA-2019 has also been readied.
- All documents along with photographs are to be uploaded online and the applications will be processed after a background check by security agencies.
- CAA exempts the members of the six communities from any criminal case under Foreigners Act, 1946 and Passport Act, 1920 which specify punishment for entering the country illegally and staying on expired visas and permits.
Government launches ‘Catch the Rain-2024’ campaign to promote sustainable water management practices
- The Ministry of Jal Shakti launched the ‘Jal Shakti Abhiyan: Catch the Rain-2024’ to optimise rainwater harvesting and other sustainable water management practices.
- The event themed ‘Nari Shakti se Jal Shakti’, which marked the 5th edition of the Jal Shakti Abhiyan, was held at the New Delhi Municipal Council Convention Centre.
- Key highlights of the event include the screening of a documentary titled ‘Jal Shakti Abhiyan 2019 to 2023’- a public-led movement marching towards water security’ and unveiling of two books – ‘Jal Shakti Abhiyan: 2019 to 2023’ and ‘101 Water Champions of Jal Jeevan Mission’ and talks by ‘Women Water Warriors’.
- The campaign aims to cover water conservation, rainwater harvesting, geo-tagging of water bodies, establishment of Jal Shakti Kendras, intensive afforestation, and awareness generation.
- Since its inception in 2019, the Jal Shakti Abhiyan has witnessed significant participation, covering 1,592 blocks in 256 water-stressed districts.
- Ministry of Jal Shakti – Rajeev Chandrasekhar,Minister of State (Rajya Sabha MP,Karnataka) – Prahlad Singh Patel,Minister of State (Damoh,MP) & Bisweshwar Tudu,Minister of State (Mayurbhanj,Odisha)
State News
Prime Minister lays foundation stone of multiple developmental projects
- The Prime Minister Narendra Modi dedicated to the nation and laid the foundation stone of various developmental projects worth over ₹1,06,000 crores at Dedicated Freight Corridor’s Operation Control Centre in Ahmedabad, Gujarat.
- The development projects of today encompass multiple sectors including railway infrastructure, connectivity and petrochemicals.
- He also flagged off 10 new Vande Bharat trains between Ahmedabad – Mumbai Central, Secunderabad-Visakhapatnam, Mysuru- Dr. MGR Central (Chennai), Patna- Lucknow, New Jalpaiguri-Patna, Puri-Visakhapatnam, Lucknow – Dehradun, Kalaburagi – Sir M Visvesvaraya Terminal Bengaluru, Ranchi-Varanasi, Khajuraho- Delhi (Nizamuddin) and also flagged off the extension of 4 Vande Bharat trains Ahmedabad-Jamnagar Vande Bharat is being extended till Dwarka, Ajmer- Delhi Sarai Rohilla Vande Bharat is being extended till Chandigarh, Gorakhpur-Lucknow Vande Bharat is being extended till Prayagraj and Thiruvananthapuram- Kasargod Vande Bharat is being extended till Mangaluru; and two new passenger trains between Asansol and Hatia & Tirupati and Kollam stations.
- He dedicated 50 Pradhan Mantri Bhartiya Janaushadhi Kendras at Railway Stations, 51 Gati Shakti Multi-Modal Cargo Terminals, 35 Rail Coach Restaurants, more than 1500 One Station One Product Stalls and Solar Powered Stations/buildings at 975
- inaugurated and laid the foundation stone of 112 National Highway projects spread across the country worth about ₹1,00,000 crores at Gurugram, Haryana.
Fishing Harbour inaugurated at Juvvaladinne in Nellore District of Andhra Pradesh
- Union Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala, Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal and Chief Minister, Andhra Pradesh S. Jagan Mohan Reddy will jointly inaugurate the Fishing Harbour at Juvvaladinne in Nellore District of Andhra Pradesh approved under Blue Revolution Scheme through virtual mode and dedicate the project to showcase significant milestone for improving maritime sector in the nation.
- The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India approved the proposal of Government of Andhra Pradesh for construction of this new Fishing Harbour at Juvvaladinne in March’2020 at a total cost of ₹288.80 crore under the Centrally Sponsored Scheme (CSS) on Blue Revolution: Integrated Development and Management of Fisheries in a convergence mode with Ministry of Ports, Shipping and Waterways under Sagarmala.
- With the collective initiative and joint efforts of Government of India in collaboration with State Government, this project has been completed within stipulated time schedule of 4 years.
- The Juvvaladinne Fishing Harbour is designed to accommodate a fleet size of 1250 fishing vessels to handle a fish catch of 41250 metric tonne annually.
- This initiative helps to generate direct benefits to around 6100 local fishermen, apart from the indirect benefits to large number of local fishermen and other stakeholders, besides providing essential facilities to local fishing vessels and fishermen, would also create multifarious benefits, stimulate growth of subsidiary fisheries based industries, accelerate fisheries trade and economic activities and create ample employment opportunities.
- The Government of India has taken up various reforms and a total investment of ₹38,572 crore has been envisaged in the sector under various schemes and programmes from 2015-16 onwards.
- During the last 10 years this Department has approved projects worth ₹28922.35 crore under various schemes which includes- Pradhan Mantri Matsya Sampada Yojana (PMMSY) – ₹18333.72 crore, Fisheries Development Infrastructure Fund (FIDF) – ₹5588.63 crore and Blue Revolution Scheme (CSS-BR) for Integrated Development and Management – ₹5000 crore for development of fisheries sector in the country.
- The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India has been giving major thrust on creation of large fisheries infrastructure projects and fish landing centres.
- The Government of India has accorded approval for development of 113 of fishing harbours and fish landing centres projects amounting to ₹9162 Crore for various coastal States/UTs.
- This includes 16 Fishing Harbours/Fish Landing Centres projects at a total investment of ₹3009 Crore for the State of Andhra Pradesh.
- This will stimulate the whole sector and generate multiplier benefits in generation of new employment opportunities.
Various road projects inaugurated by Union Road Transport Minister
- Union Minister for Road Transport & Highways, Nitin Gadkari laid foundation stone of two National Highway projects at a cost of more than ₹2500 crore in a program organized in Khunti, Jharkhand through video conferencing.
- He also inaugurated and laid the foundation stone for 22 National Highway projects, spanning 268 Km and valued at over ₹4,000 Crore in Mysuru, Karnataka.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
Anurag Thakur virtually inaugurates various sports projects in Nagaland
- Union Minister for Youth Affairs & Sports and Information & Broadcasting Anurag Singh Thakur virtually inaugurated various Khelo India construction projects in Nagaland.
- The projects include three multipurpose halls located at Viswema under Kohima, Medziphema under Chümoukedima and Riphyim, Englan in Wokha district.
- Indoor Badminton Hall at Yachem EAC Headquaters in Longleng and Synthetic Football Turf at Mon football ground.
- Ministry of Youth Affairs and Sports – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Nisith Pramanik,Minister of State (Cooch Behar, West Bengal)
Banking and Finance
SIDBI secures first green climate fund project worth $120 million
- Small Industries Development Bank of India (SIDBI) has secured approval from the Green Climate Fund (GCF) for its first anchored project, Avaana Sustainability Fund (ASF), valued at $120 million.
- The closure was announced at the 38th board meeting of the GCF, which will invest $24.5 million in the fund, in Kigali, Rwanda, SIDI, an accredited entity of GCF.
- 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 the country.
- The anticipated outcomes include significant contributions to climate change mitigation, adaptation, and the enhancement of resilience in vulnerable sectors of the economy.
- This is the first project anchored by SIDBI including the first secured for the country in the past few years and will go a long way in advancing the country’s nationally determined contributions by effecting substantial global changes through its proficiency in green and climate finance.
- The Green Climate Fund is a key component of the historic Paris Agreement and also the world’s largest climate fund.
- Mandated to assist developing countries in raising and realizing their nationally determined contributions (NDC) ambitions, the GCF expedites transformative climate action through a partnership-driven approach and deploying flexible financing solutions and climate investment expertise.
- The fund’s investment strategy targets four significant transitions–built environment; energy industry; human security, livelihood, wellbeing; and land use-forests and ecosystems, employing four key approaches.
- SIDBI, designated as an AE and direct access entity (DAE) with the GCF, is accessing climate finance to implement low-carbon and climate-resilient projects and will work under the guidance of the Union Environment, Forests and Climate Change ministry.
- The bank will also liaise with key stakeholders and ministries including the department of financial services.
- Small Industries Development Bank of India (SIDBI) – 02/04/1990 (Founded) – Lucknow,UP (HQ) – Sivasubramanian Ramann (Chairman & MD)
Bank of Baroda unveils bob Earth Green Term Deposit Scheme
- Bank of Baroda, has announced the introduction of bob Earth Green Term Deposit Scheme to raise deposits that would be deployed towards financing environment-friendly projects and sectors.
- The bank is offering interest rates of up to 15% p.a.
- Bank of Baroda (BOB or BoB) – 20/07/1908 (Founded) – Vadodara, Gujarat (HQ) – Debadatta Chand (MD & CEO) – “India’s International Bank” (Tagline)
Complaints received by the RBI Ombudsman and CRPC saw a 68.24% jump in FY23
- The total number of complaints received by the Offices of the RBI Ombudsman (ORBIOs) and Centralised Receipt and Processing Centre (CRPC) saw a 24 per cent jump to 7,03,544 during FY23 compared with 4,18,184 complaints during FY22, per the latest Annual Report of the Ombudsman Scheme.
- Complaints relating to mobile/electronic banking were the largest contributor to the total number of complaints received against banks as well as non-bank payment system participants, while complaints relating to non-adherence to the Fair Practices Code were the highest in respect of NBFCs.
- The Annual Report of the Ombudsman Scheme 2022–23 is the first standalone report under the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS), 2021 (the Scheme), elucidating the activities of the 22 Offices of the RBI Ombudsman (ORBIOs), Centralised Receipt and Processing Centre (CRPC), and the Contact Centre during the year.
- The majority (48 per cent) of maintainable complaints disposed of under RB-IOS 2021 were resolved through mutual settlement, conciliation, and mediation.
- The rest of the maintainable complaints were either rejected by RBIOs, withdrawn by the complainants, or adjudicated by the passing of awards.
Agreements and MoUs signed
Tata Technologies inks agreement with Telangana for skill centres
- Tata Technologies Limited signed a MoU with the Telangana government to establish “Advanced Technical Skill Training Centres (skilling centres)” in 65 Industrial Training Institutes in the state.
- The Tata Group company will conduct 9 long-term and 23 short-term courses as well as bridge courses to improve the skills.
- The State government is making arrangements for the implementation of the project from 2024-2025 academic year.
- Tata Technologies Limited – 1989 (Founded) – Pune (HQ) – Ajoyendra Mukherjee (Chairman)
Summit & Conference
India-Nepal Ayush Exhibition and Conference 2024
- In Nepal Expo 2024, India chapter of International Chamber of Commerce organised India-Nepal Ayush Exhibition and Conference with support from Ministry of AYUSH.
- The Exhibition witnessed 22 Ayush sector companies from India exhibiting at Ayush Pavilion.
- Visitors interested in Ayurvedic, Siddha, Homeopathy, Unani and Sowa Rigpa treatments discussed with experts in the pavilion.
- In the span of 3 days, 8 technical sessions were organised at the Conference. A free walk-in health clinic was organised with support from the Department of Ayurveda, Ministry of Health and Population, Government of Nepal.
- Nepal – Kathmandu (Capital) – Nepalese rupee (Currency) – Ram Chandra Poudel (President) – Pushpa Kamal Dahal (Prime Minister) – Nepali (Official Language)
Science and Technology
Kerala launches state-owned OTT platform CSpace
- Kerala has launched the first government-owned OTT platform ‘CSpace’ with Chief Minister Pinarayi Vijayan describing it as a decisive step in the onward journey of Malayalam Cinema.
- CSpace is managed by the Kerala State Film Development Corporation (KSFDC).
- The decision that CSpace will only stream films that are already released in theatres signifies that this is not a move that will harm the interests of the film industry.
- Its aim is to promote good cinema without hurting the interests of the producers and exhibitors.
- A total of 42 films have been selected in the first phase for streaming on CSpace, including 35 feature films, 6 documentaries, and 1 short film.
- Films that have won national or state awards and those exhibited in major film festivals will also be streamed.
IIT Madras partners with Vellon Space for extra-terrestrial manufacturing research
- Indian Institute of Technology, Madras (IIT Madras) is collaborating with Indian space startup Vellon Space to advance extra-terrestrial manufacturing research and development.
- The collaboration marks a significant milestone in orbital ‘microgravity research’.
- Vellon Space will receive a technology development fund from IIT Madras to demonstrate its miniature space laboratory, called AsteriX Lab, in orbit.
- The IIT Madras research centre, called Extra-Terrestrial Manufacturing (ExTeM-IITM) is the pilot customer for this in-orbit demonstration mission of Vellon Space.
- During its demonstration, the AsteriX Lab will undergo space qualification to conduct biological experiments, particularly in long-duration cell culture, under lower earth microgravity.
- This demonstration in space is expected to take place by
- ExTeM-IITM is a group of researchers at IIT Madras teaming up to focus on developing technologies for manufacturing things in space—for space use and for use back on earth.
- Vellon Space Private Limited – 2020 (Founded)
Appointments
Gustavo Adrianzen was appointed as Prime Minister of Peru
- Peru’s President Dina Boluarte swore in lawyer Gustavo Lino Adrianzen as her new prime minister after his predecessor Alberto Otarola resigned amid a scandal over leaked tapes.
- Peru – Lima (Capital) – Peruvian sol (Currency) – Dina Boluarte (President) – Gustavo Lino Adrianzen (Prime Minister) – Spanish (Official Language)
Former SC judge A M Khanwilkar administered oath as Lokpal chairperson
- Former Supreme Court judge Ajay Manikrao Khanwilkar was administered the oath of office as the Lokpal chairperson by President Droupadi Murmu at the Rashtrapati Bhavan.
- He served as a judge of Supreme court from May 13, 2016 to July 29, 2022.
- He was appointed as the chairperson of the anti-corruption ombudsman Lokpal February 2024, nearly two years after the post fell vacant following the retirement of Pinaki Chandra Ghose on May 27, 2022.
Dhanaraj appointed as esecutive director of Indian Overseas Bank (IOB)
- Indian Overseas Bank (IOB) has announced that Dhanaraj T has been appointed as the Executive Director of the Bank for a three-year term, effective March 10.
- Before joining IOB, he served as the Chief General Manager at Indian Bank and commenced his career as a Rural Development Officer in 1994.
- Indian Overseas Bank – 10/02/1937 (Founded) – Chennai (HQ) – Ajay Srivastava J (MD & CEO) – “Good people to grow with” (Tagline)
AS Rajeev sworn in as Vigilance Commissioner
- Former Bank of Maharashtra Chief Executive AS Rajeev was sworn in as the Vigilance Commissioner at the Central Vigilance Commission.
- He has been a career banker with over 38 years of experience in four banks, namely, Syndicate Bank, Indian Bank, Vijaya Bank and Bank of Maharashtra.
- As the MD & CEO of Bank of Maharashtra for the last 5 years, Bank of Maharashtra successfully emerged from the RBI’s Prompt Corrective Action and traversed to the next orbit of banking from a small-sized bank to a robust midsized bank.
- He has also served as a Nominee Director in EXIM Bank, New India Assurance Co Ltd and National Payments Corporation of India (NPCI) and also been the Vice Chairman of the Indian Banks Association and a Member of Core Group constituted by RBI for implementation of Indian Accounting Standards.
- The Central Vigilance Commission Act, 2003, provides for the appointment of a Central Vigilance Commissioner and two Vigilance Commissioners.
- The tenure of the Vigilance Commissioner is of four years or till the incumbent attains the age of 65 years.
Sports News
Vishnu Saravanan grabs Gold at Europa Cup 2024 Sailing Meet
- India’s Olympian sailor Vishnu Saravanan, who has already bagged a quota place for the upcoming Paris Olympic Games, has won the gold medal in the men’s one-person dinghy (ILCA7) category at the Europa Cup 2024 sailing meet held in Mallorca, Spain.
- Saravanan, who represented the country in the Tokyo Olympic Games in 2021 and finished 20th, topped the 91-boat race with 17 net points.
- The Netherlands’ Willem Wiersema also accrued the same points but Saravanan won the category on technicality.
- In January 2024, Saravanan became the first Indian to secure a sailing quota for the Paris 2024 Olympics, doing so at the ILCA 7 Men’s World Championship 2024 in Australia January 2024.
- The ILCA7 is a category within the ILCA (International Laser Class Association) sailing class.
- The Laser Standard is a small, lightweight boat with a single mast.
- Last year, he also secured the bronze medal at the Asian Games in Hangzhou.
Important Days
International Day of Women Judges 2024
- International Day of Women Judges is annually observed on March 10.
- The day is dedicated to recognizing the contributions of women judges worldwide and promoting women’s participation in decision-making for achieving equality and democracy.
- Theme – “Women in Justice, Women for Justice”
Defence
Ministry of Defence 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.
- 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.
- This order contracted to Big Bang Boom Solutions is a step in that direction and we are happy to have young companies support the nation’s growth.
- Indian Army – 26/01/1950 (Founded) – New Delhi (HQ) – Army Day (January 15) – General Manoj Pande (Chief of Army Staff) – “Service Before Self” (Motto)
- Indian Air Force (IAF) – 26/01/1950 (Founded) – New Delhi (HQ) – Airforce Day (October 08) – Air Chief Marshal Vivek Ram Chaudhari (Chief of Air Staff) – ‘Touch the sky with Glory’ (Motto)
DRDO successfully conducts Mission Divyastra
- Defence Research and Development Organisation (DRDO) conducted first successful flight test of indigenously developed Agni-5 missile with Multiple Independently Targetable Re-Entry Vehicle (MIRV) technology.
- The flight test named Mission Divyastra was carried out from Dr APJ Abdul Kalam Island in Odisha.
- Various Telemetry and radar stations tracked and monitored multiple re-entry vehicles.
- Agni is a long-range missile developed indigenously by the DRDO.
- The family of Agni missiles have been in the arsenal of the Indian armed forces since the early 1990s.
- Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)
Daily Current Affairs - March 11 & 12, 2024 - Consolidated
- Citizenship Amendment Act rules notified, four years after the law was passed
- Government launches ‘Catch the Rain-2024’ campaign to promote sustainable water management practices
- Prime Minister lays foundation stone of multiple developmental projects
- Fishing Harbour inaugurated at Juvvaladinne in Nellore District of Andhra Pradesh
- Various road projects inaugurated by Union Road Transport Minister
- Anurag Thakur virtually inaugurates various sports projects in Nagaland
- SIDBI secures first green climate fund project worth $120 million
- Bank of Baroda unveils bob Earth Green Term Deposit Scheme
- Complaints received by the RBI Ombudsman and CRPC saw a 68.24% jump in FY23
- Tata Technologies inks agreement with Telangana for skill centres
- India-Nepal Ayush Exhibition and Conference 2024
- Kerala launches state-owned OTT platform CSpace
- IIT Madras partners with Vellon Space for extra-terrestrial manufacturing research
- Gustavo Adrianzen was appointed as Prime Minister of Peru
- Former SC judge A M Khanwilkar administered oath as Lokpal chairperson
- Dhanaraj appointed as esecutive director of Indian Overseas Bank (IOB)
- AS Rajeev sworn in as Vigilance Commissioner
- Vishnu Saravanan grabs Gold at Europa Cup 2024 Sailing Meet
- International Day of Women Judges 2024
- Ministry of Defence signs ₹200 crore contract for anti-drone systems under iDEX initiative
- DRDO successfully conducts Mission Divyastra
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