Daily Current Affairs – March 16, 2024
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Daily Current Affairs - Banking - March 16, 2024
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National News
Government approves E- Vehicle policy to promote India as a manufacturing destination for EVs
- 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
- The policy is designed to attract investments in the e-vehicle space by reputed global EV manufacturers.
- This will provide Indian consumers with access to latest technology, boost the Make in India initiative, strengthen the EV ecosystem by promoting healthy competition among EV players leading to high volume of production, economies of scale, lower cost of production, reduce imports of crude Oil, lower trade deficit, reduce air pollution, particularly in cities, and will have a positive impact on health and environment.
- Minimum Investment – ₹4150 crores
- 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
Union Minister Dr. Jitendra Singh inaugurates first of its kind ‘National Speed Breeding Crop Facility, "DBT SPEEDY SEEDS” at National Agri-Food Biotechnology Institute (NABI), Mohali
- Union Minister of Science & Technology, Jitendra Singh inaugurated the first-of- its-kind “National Speed Breeding Crop Facility” at the premier National Agri-Food Biotechnology Institute (NABI) in Mohali.
- This facility will augment transformational changes in crop improvement programmes by accelerating the development of advanced crop varieties that could sustain climate change and contribute to the food and nutritional demand of the population with implementation of speed breeding cropping methods.
- DBT institute of NABI has developed technology of ‘Climate- resistant crops’, by harnessing these technologies the farmers will not be restrained to cultivate a crop in a particular season rather they will have the liberty to practise farming irrespective of climate conduciveness.
- The facility will directly help
- Scientists and Researchers from government institutions, private institutions and leading industries in India engaged in agricultural and biotechnology research and development of improved crop varieties and products,
- Plant Breeders working for crop development
- Progressive farmers who are contributing to adoption of new varieties with superior yield and nutritional traits.
State News
Shipping Ministry approves projects worth ₹645-crore in Assam to boost tourism
- India’s Shipping Ministry has approved waterways projects worth ₹645 crore on Brahmaputra in Assam.
- Projects, aimed at boosting river tourism, will be implemented with financial assistance from the Centre.
- Projects will involve the creation of slipways at strategic locations in Dhubri and Majuli, new passenger terminals at Ghagor in North Lakhimpur and Bahari in Barpeta district of Assam.
- There will be additional passenger terminals in Goalpara, Guijan, Kurua, Dhubri, Disangmukh & Matmora.
- Ministry of Ports, Shipping and Waterways – Sarbananda Sonowal, Union Minister (Rajya Sabha MP, Assam) – Shripad Yesso Naik, Minister of State (North Goa) & Shantanu Thakur, Minister of State (Bangaon,West Bengal)
Road Transport and Highway ministry allocated fund for various road projects
- Union Minister for Road Transport and Highways Nitin Gadkari had allocated funds for various projects which includes
- ₹576.22 Crore has been sanctioned for the 4-laning of the Yedegowdanahalli to Arjunahalli segment of NH-373 in Hassan district, of Karnataka spanning 22.3 kilometers.
- ₹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 in
- For upgrading Khokhra Gujarat Border – Vijayanagar – Antarsuba – Mathasur Road section of National Highway 58 in Palanpur district of Gujarat to 2-lane with PS (paved shoulder) ₹699.19 crore has been sanctioned under Hybrid Annuity Mode.
- For development, operation and maintenance of the existing ropeway between Ujjain Junction Railway Station and Mahakaleshwar Temple in Ujjain district of Madhya Pradesh ₹188.95 crore has been approved under Hybrid Annuity Mode.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
Schemes
Telangana Chief Minister launches Indiramma Indlu housing scheme
- Telangana Chief Minister Chief Minister A Revanth Reddy Indramma Indlu housing scheme in
- The scheme’s primary objective of providing housing to poor families.
- The State Government had allocated ₹22,500 crore to sanction 4,50,000 Indiramma houses.
Banking and Finance
Karnataka Vikas Grameena Bank launches ‘Vikas Spoorty’
- Karnataka Vikas Grameena Bank (KVGB) has launched a new loan scheme called ‘Vikas Spoorty’ to strengthen the rural credit delivery system and also to motivate the common man to take up income-generating activities on a smaller scale.
- This scheme is a hassle-free loan without collateral security and surety aimed at meeting the genuine credit needs of small entrepreneurs.
- It links repayment of the loan to the small amounts contributed by them on a daily basis to their ‘Daily Deposit’ scheme of the bank (pigmy account) at their doorsteps.
- The loan accounts of such customers often become overdue not because of any intentional wilful default on their part, but because of the difficulty faced by them in visiting branches frequently to make repayment of small amounts.
- At the same time, on account of the subsistence level of income from their enterprises, they are not in a position to accumulate adequate savings to pay the monthly installment in one lump sum.
IndusInd Bank launches Indus PayWear, an all-in-one tokenisable wearable
- IndusInd Bank has introduced ‘Indus PayWear,’ which, in collaboration with Mastercard, boasts to be the country’s first all-in-one tokenisable wearables for both debit and credit cards.
- This offering aims to enable users to tokenise their IndusInd Bank cards onto a chip-enabled wearable device.
- Indus PayWear facilitates tap-and-pay transactions at any contactless Point-of-Sale (PoS) terminal globally, eliminating the need for physical cards or payment apps.
- Users can securely make purchases with ease.
- The Indus PayWear range includes three options: a ring, watch clasp, and stickers, catering to diverse customer preferences.
- The wearables are priced affordably, ranging from ₹499 to ₹2,999.
- This wearable is powered by a dedicated mobile application.
- Users can set up their cards on the wearable device and easily switch between cards using the app.
Agreements and MoUs signed
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 signed a 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 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 the vulnerable households out of poverty.
- As part of this partnership, J-PAL South Asia will support MoRD in catalysing the adoption of scientific evidence and data in their decision-making.
- J-PAL South Asia will also collaborate with MoRD to set-up a Gender Impact Lab to conduct new research and institutionalise data use within Deendayal Antyodaya Yojana National Rural Livelihoods Mission (DAY NRLM) for driving women-led development.
- Ministry of Rural Development – Giriraj Singh,Union Minister (Begusarai,Bihar) – Sadhvi Niranjan Jyoti,Minister of State (Fatehpur,UP), Faggan Singh Kulaste,Minister of State (Mandla,MP)
Ministry of Rural Development signs MoU with the Bharat Financial Inclusion Limited to synergize the livelihood intervention in livestock sector
- Ministry of Rural Development 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.
- As part of the MoU, in initial phase a centralized Project Monitoring Unit (PMU) will be established to support DAY-NRLM at national level and State PMU in Maharashtra, Madhya Pradesh, Jharkhand, Uttar Pradesh, Rajasthan, Tamil Nadu and Bihar will be developed.
- The PMU will comprise specialists from livestock (as per the need in respective state), Market Linkage etc.
- BFIL will also strengthen the Pashu Sakhis (last mile extension workers at village) developed under DAY-NRLM to provide basic healthcare support to animals.
- The other area of intervention will be on livestock cluster facilitation, developing IT enabled ecosystem and also for providing veterinary care and facilitation support to SHG households of DAY-NRLM.
Department of Food and Public Distribution signs Memorandum of Understandings with SIDBI and NIESBUD for transformation of Fair Price Shops
- The Department of Food & Public Distribution (DoF&PD) signed an MoU with the National Institute for Entrepreneurship and Small Business Development, NIESBUD under Ministry of Skill Development and Entrepreneurship (MSDE), to tackle skill development challenges faced by FPS dealers, particularly in areas of digital literacy, financial literacy and entrepreneurial skills needed to adapt to the market changes and explore new business opportunities.
- Another MoU between DoF&PD and SIDBI was entered at Krishi Bhawan, New Delhi.
- Through this partnership, SIDBI will offer a simple-to-use digital solution for providing working capital assistance to the FPSs through its GST Sahay application.
- This initiative will enable FPS to operate on a credit model for selling non-PDS commodities.
- Small Industries Development Bank of India (SIDBI) – 02/04/1990 (Founded) – Lucknow,UP (HQ) – Sivasubramanian Ramann (Chairman & MD)
Science and Technology
‘CAA-2019’ Mobile App was launched
- ‘CAA-2019’ Mobile App for making application under Citizenship (Amendment) Act, 2019 has become operational.
- The applicants can download the app from Google play store.
- It can also be downloaded from website – nic.in.
Department of Fisheries successfully inaugurates the integration of the Kisan Credit Card Fisheries scheme onto the JanSamarth Portal
- The Department of Fisheries successfully inaugurated the integration of the Kisan Credit Card (KCC) Fisheries scheme onto the JanSamarth Portal, revolutionizing access to credit facilities for fishers, fish farmers etc across the nation.
- The integration of the KCC Fisheries scheme onto the JanSamarth Portal signifies a monumental leap towards providing a digital platform for fish farmers and stakeholders in the fisheries sector.
- This initiative aims to streamline processes, digitize workflows, and provide efficient loan management services, ensuring enhanced accessibility and transparency for beneficiaries.
- The integration of the KCC Fisheries scheme onto the JanSamarth Portal heralds a new era of efficiency, transparency, and inclusivity in the fisheries sector.
- Fishers and Fish farmers across the country can now easily apply for their KCC loans and manage their loan accounts online.
- Ministry of Fisheries, Animal Husbandry and Dairying – Parshottam Rupala,Union Minister (Rajya Sabha MP,Gujarat) – Sanjeev Balyan, Minister of State (Muzaffarnagar,UP), L. Murugan, Minister of State (Rajya Sabha MP,MP)
Power
Union Petroleum and Natural Gas Minister launched ETHANOL 100 fuel
- Union Minister for Petroleum & Natural Gas and Housing and Urban Affairs Hardeep Singh Puri, launched ‘ETHANOL 100’ a revolutionary automotive fuel at IndianOil Retail Outlet M/s. Irwin Road Service Station.
- Customers can avail ETHANOL 100 at select 183 retail outlets across five states – Maharashtra, Karnataka, Uttar Pradesh, New Delhi, and Tamil Nadu.
- ETHANOL 100 stands as a cleaner, greener alternative to gasoline, boasting lower emissions of greenhouse gases and pollutants, thus aiding in combating climate change and enhancing air quality in our communities.
- With its high-octane rating, typically between 100-105, ETHANOL100 proves ideal for high-performance engines, ensuring improved efficiency and power output all while minimizing environmental impact.
- Moreover, ETHANOL 100’s versatility shines through, as it can be used in a wide array of vehicles, including flex-fuel vehicles (FFVs) designed to run on gasoline, ethanol, or any blend of the two, showcasing its practicality and potential to become a mainstream fuel option with the right infrastructure in place.
- Ministry of Petroleum and Natural Gas – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Rameshwar Teli, Minister of State (Dibrugarh,Assam)
Appointments
President Abbas appoints Mohammad Mustafa as new Palestinian PM
- Mohammad Mustafa was appointed prime minister of the Palestinian Authority (PA).
- He had served as Deputy Prime Minister of Palestine between 2013-14.
Navneet Kumar Sehgal appointed as chairman of Prasar Bharati
- Retired bureaucrat Navneet Kumar Sehgal has been appointed as the new Prasar Bharati chairman, a post that had been vacant for four years.
- He succeeds A Surya Prakash, whose term ended in February 2020 after he turned 70, the upper age limit for a person holding the post.
- The vice president, who is also the chairman of the Rajya Sabha, heads the selection panel for the Prasar Bharati chairman post.
- The chairperson of the Press Council of India and a nominee of the President complete the three-member panel.
Awards and Recognitions
Chameli Devi Jain Award 2024 given jointly to Greeshma Kuthar and Ritika Chopra
- Chameli Devi Jain Award 2024 for Outstanding Woman Media Person of the Year has been given jointly to independent journalist Greeshma Kuthar, and Ritika Chopra of the Indian Express.
- According to The Media Foundation, an independent jury comprising senior journalist and columnist Radhika Ramaseshan (Chairman), award-winning journalist and author Mariyam Alavi, and Down to Earth managing editor Richard Mahapatra, selected the winners from more than 65 entries of women journalists.
Important Days
World Kidney Day 2024
- World Kidney Day is annually observed on second Thursday of March.
- This year the day falls on March 14.
- The day is devoted to bringing issues to light about the significance of kidney wellbeing and the dangers related with chronic kidney disease.
- Kidneys are one of the most pivotal organs of our body, which assist us in expelling the waste, and returning the clean blood to the body, ensuring a healthy balance of different elements such as water, salt and significant minerals.
- The Day was first observed in 2006 with the slogan ‘Are Your Kidneys ok?’
- Theme – “Kidney Health for All”
World Sleep Day 2024
- World Sleep Day is annually observed on March 15.
- The Day delegates and sleep health advocates across the world are taking action in their local communities, clinics, and countries to raise awareness of sleep health.
- Since its inception in 2008, World Sleep Day has been organized by the World Sleep Society’s World Sleep Day Committee.
- Theme – Sleep Equity for Global Health
National Vaccination Day 2024
- National Vaccination Day is annually observed on March 16 in India.
- In 1988, the World Health Organization (WHO) Global Polio Eradication Initiative was begun as the initial step of removing this disease from the planet.
- In 1995, around the same time, the government of India began the pulse polio Vaccination Program as the first attempt of uprooting this sickness from the country.
- From that point forward, March 16 has been celebrated as National Vaccination Day.
- Vaccines assume a significant role in curing diseases that used to be fatal at one point of time.
Defence
Ministry of Defence signs contract worth over ₹2,890 crores 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 ₹2,890 crores.
- The MLU for Dornier Aircraft includes an upgrade to incorporate state-of-the art Avionics Systems and Primary Role sensors.
- 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 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.
- Mid Life Upgrade (MLU) of 25 Dornier Aircraft is likely to generate an employment of 8 Lakh Man- days during its execution span of 6.5 years.
- Hindustan Aeronautics Limited (HAL) – 22/12/1940 (HQ) – Bangalore (HQ) – CB Ananthakrishnan (Chairperson & MD)
Daily Current Affairs - March 16, 2024 - Consolidated
- Government approves E- Vehicle policy to promote India as a manufacturing destination for EVs
- Union Minister Dr. Jitendra Singh inaugurates first of its kind ‘National Speed Breeding Crop Facility, “DBT SPEEDY SEEDS” at National Agri-Food Biotechnology Institute (NABI), Mohali
- Shipping Ministry approves projects worth ₹645-crore in Assam to boost tourism
- Road Transport and Highway ministry allocated fund for various road projects
- Telangana Chief Minister launches Indiramma Indlu housing scheme
- Karnataka Vikas Grameena Bank launches ‘Vikas Spoorty’
- IndusInd Bank launches Indus PayWear, an all-in-one tokenisable wearable
- 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
- Ministry of Rural Development signs MoU with the Bharat Financial Inclusion Limited to synergize the livelihood intervention in livestock sector
- Department of Food and Public Distribution signs Memorandum of Understandings with SIDBI and NIESBUD for transformation of Fair Price Shops
- ‘CAA-2019’ Mobile App was launched
- Department of Fisheries successfully inaugurates the integration of the Kisan Credit Card Fisheries scheme onto the JanSamarth Portal
- Union Petroleum and Natural Gas Minister launched ETHANOL 100 fuel
- President Abbas appoints Mohammad Mustafa as new Palestinian PM
- Navneet Kumar Sehgal appointed as chairman of Prasar Bharati
- Chameli Devi Jain Award 2024 given jointly to Greeshma Kuthar and Ritika Chopra
- World Kidney Day 2024
- World Sleep Day 2024
- National Vaccination Day 2024
- Ministry of Defence signs contract worth over ₹2,890 crores with HAL for Mid Life Upgrade of 25 Dornier Aircraft of Indian Navy
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