Daily Current Affairs – March 22 & 23, 2024
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Daily Current Affairs - Banking - March 22 & 23, 2024
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National News
UNESCO puts 6 new Madhya Pradesh destinations on tentative list of World Heritage Sites
- In a significant boost to its rich cultural and historical legacy, 6 new sites from Madhya Pradesh have found place in the tentative UNESCO list of World Heritage Sites (WHS).
- Earlier 4 sites were included in 2021, bringing the total sites to 10 under this tentative list by March 2024.
- Besides, 3 sites from MP are already included in UNESCO’s permanent list.
- The proposal, consisting of 9 potential sites in MP, was submitted to UNESCO by the MP Tourism Board.
- After examining these proposals, UNESCO has approved 6 historical heritage
- The remaining 3 heritage sites have been redirected for consideration under the ‘serial nomination’ clause and the MP Tourism Board is working on this.
- The sites included in the new list included Gwalior Fort, the Historical Group of Dhamnar, Bhojeshwar Mahadev Temple, Rock Art Sites of Chambal Valley, Khooni Bhandara, Burhanpur, and God Memorial of Ramnagar, Mandla.
4th Shanghai Cooperation Organisation Startup Forum organized in New Delhi
- 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 plenary session of the forum witnessed physical participation from SCO Member States including a delegation of SCO startups, nodal agencies for startups at the Member States, senior government officials and diplomats.
- Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Rajesh Kumar Singh delivered the keynote address highlighting the role of the Startup ecosystem in boosting the economy of a nation.
- Joint Secretary, DPIIT, Sanjiv addressed the delegation about India’s startup journey and initiatives for promoting startups by the Government of India.
- Shanghai Cooperation Organisation (SCO) – 15/06/2001 (Founded) – Beijing, China (Secretariat) – Members (6 countries) – Zhang Ming (Secretary General) – Chinese & Russian (Official Language)
International News
‘Operation Indravati’, launched to rescue Indians in Haiti
- India launched ‘Operation Indravati’ to evacuate its citizens from the turmoil-stricken Haiti to the neighboring Dominican Republic.
- Haiti, situated in the Caribbean, has plunged into chaos with armed gangs seizing control of the streets, resulting in the virtual disappearance of the government.
- Haiti – Port-au-Prince (Capital) – Gourde (Currency) – French and Haitian Creole (Official Language)
Banking and Finance
Exim Bank extends $23 million line of credit to Guyana for aircraft procurement
- The Export-Import Bank of India (Exim Bank) has extended a $37 million (about ₹194 crore) line of credit to the government of Cooperative Republic of Guyana for the procurement of two aircraft from India for the South American country’s defence forces.
- With this line of credit (LOC), the bank has 292 LOC in place now, covering 62 countries in Africa, Asia, Latin America, CIS, and Oceania, with credit commitments of around $2.72 billion available for financing exports from India.
- Guyana – Georgetown (Capital) – Guyanese dollar (Currency) – Irfaan Ali (President) – Mark Anthony Phillips (Prime Minister & first vice president) – English (Official Language)
DBS Bank India Announces USD 250 Million Lending Support for start-ups and New Economy Companies
- DBS Bank India announced a lending commitment of $250 million for new-age start-ups.
- The initiative is part of the bank’s focus on fostering innovation and entrepreneurship within the country’s thriving start-up ecosystem.
- The Indian start-up sector, a foundational pillar of the country’s development goals, has seen significant expansion over the years with over 90,000 start-ups and more than 100 unicorns as of 2024.
- Despite their growing resilience, access to capital for these companies in the current dynamic environment presents an ongoing challenge.
- Recognising the disruptive power of the start-up segment, particularly those harnessing emerging technologies, DBS Bank India has earmarked lending support of $250 million, focusing on enterprises that are set to redefine industry standards with innovative solutions.
RBI issues omnibus framework for recognising SROs for banks, NBFCs, fintechs
- Self-regulatory organisations (SROs) of banks, non-banking financial companies and fintechs, among others, will need to keep the Reserve Bank regularly informed about developments in their respective segments and promptly inform it about any regulatory violations.
- In the “Omnibus Framework for recognising SROs for Regulated Entities (REs) of RBI”, the central bank said SROs have to submit annual report to the Reserve Bank, within three months of completion of the accounting year.
- The SRO, which will be structured as a not-for-profit company registered under Section 8 of the Companies Act, 2013, will also submit periodic/ ad hoc returns as may be prescribed by RBI.
SBI Card and Titan launch ‘Titan SBI Card’
- SBI Card, country’s largest pure play credit card issuer, has partnered Titan Company Ltd (Titan) to launch ‘Titan SBI Card’.
- This one-of-its-kind shopping credit card is designed for addressing the consumers’ aspirational spending needs.
- With features that include cashbacks, Titan gift vouchers and Reward Points, cardholders can avail exclusive benefits of over ₹2,00,000 worth per annum., according to SBI Card.
Business and Economy
UBS sees India’s GDP growth moderating in FY25 7.0%
- According to Swiss Wealth Management major UBS, India’s GDP growth is expected to moderate to 7 per cent in 2024-25 from the estimated 6 per cent this fiscal even as the country will likely remain as one of the fastest growing economy in the world.
- For the fiscal year 2026-27, Indian economy is likely to grow at 6.8 per cent.
Agreements and MoUs signed
India and Bhutan Exchanged Several MoUs To Strengthen Partnership
- India and Bhutan exchanged several agreements of mutual interest to further strengthen their partnership.
- The MoUs are signed agreements in the fields of energy, trade, digital connectivity, space and agriculture, and finalised the MoU on the establishment of rail links between the two nations.
- Prime Minister Narendra Modi and his Bhutanese counterpart Tshering Tobgay inaugurated a modern hospital built with Indian assistance here which will be a shining example of India-Bhutan development cooperation.
- The Gyaltsuen Jetsun Pema Wangchuk Mother and Child Hospital is a state-of-the-art 150-bedded facility that has been built with the assistance of the Government of India in Thimphu.
- India has supported the development of the hospital in two phases.
- The first phase was constructed at a cost of ₹22 crore and has been operational since 2019.
- The construction of the second phase was taken up in 2019, as part of the 12th Five Year Plan at a cost of ₹119 crore, and was completed recently.
- Bhutan – Thimphu (Capital) – Ngultrum (Currency) – Jigme Khesar Namgyel Wangchuck (Druk Gyalpo) – Tshering Tobgay (Prime Minister) – Dzongkha (Official Language)
M&M signs MOU with Adani for electric vehicle charging infrastructure
- Indian automaker Mahindra & Mahindra signed a Memorandum of Understanding (MOU) with Adani Total Energies E-Mobility Ltd (ATEL).
- The MOU is to create an electric vehicle charging infrastructure across India.
- Through the partnership, the automaker will also roll out e-mobility solutions to provide access to the charging network for consumers.
NCC signs MoU with NPCIL to raise awareness on peaceful use of nuclear power
- 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 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 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.
- The MoU also facilitates a unique opportunity to the cadets to visit various facilities of NPCIL across the country, thereby giving a first-hand experience on peaceful use of nuclear energy, its technical and technological aspects.
Science and Technology
ISRO successfully conducts ‘Pushpak’ Reusable Landing Vehicle landing experiment
- The Indian Space Research Organisation (ISRO) has successfully conducted the Pushpak Reusable Landing Vehicle (RLV) LEX 02 landing experiment at the Aeronautical Test Range in Chitradurga, Karnataka.
- The RLV LEX 02 landing experiment is the second of the series of experiments conducted by the space agency.
- After first the RLV-LEX-01 mission which was accomplished last year, the RLV-LEX-02 demonstrated the autonomous landing capability of RLV off-nominal initial conditions at the release from a Chinook helicopter.
- The RLV was made to undertake more difficult amnoeuvers with dispersions, correct both cross-range and down range and land on the runway in a fully autonomous mode.
- Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)
Appointments
International Telecommunication Union elects India as co-chair of its Digital Innovation Board
- Dr Neeraj Mittal was unanimously elected as co-chair of the Digital Innovation Board of International Telecommunication Union (ITU) formed under the aegis of Innovation and Entrepreneurship Alliance for Digital Development.
- The Digital Innovation Board comprises of Ministers and Vice Ministers of Telecom/ICT of 23 Member Countries of ITU spanning Asia, Europe, Africa, North and South America.
Central Bank of India chief executive M V Rao elected as Indian Banks’ Association Chairman
- M V Rao, Managing Director and CEO, Central Bank of India elected as Chairman of Indian Banks Association (IBA) for the term 2023-24 at a meeting of the Managing Committee of IBA.
- Three Deputy Chairmen for IBA would be Dinesh Kumar Khara, Chairman, State Bank of India (SBI); S L Jain, MD and CEO, Indian Bank and N Kamakodi, Managing Director and CEO, City Union Bank.
- Madhav Nair, Country Head and CEO, Bank of Bahrain and Kuwait, would be Honorary Secretary of the Association.
Prabowo Subianto Elected as New President of Indonesia
- Prabowo Subianto has been elected as president of Indonesia.
- He will take over the presidency in October after a transition period.
- Indonesia – Jakarta (Capital) – Indonesian rupiah (Currency) – Joko Widodo (President) – Indonesian (Official Language)
Simon Harris set to be Ireland’s youngest Prime Minister
- Simon Harris, set to become Ireland’s youngest ever taoiseach (Prime Minister), after Indian-origin Irish Prime Minister Leo Varadkar has decided to step down from his post before the general election.
- Ireland – Dublin (Capital) – Euro (Currency) – Michael D. Higgins (President) – Irish & English (Language)
Mariam Mammen Mathew to chair DNPA
- Mariam Mammen Mathew, Chief Executive Officer, Manorama Online, has been appointed chairperson of Digital News Publishers Association (DNPA) for two years from April 1.
- She would succeed Tanmay Maheshwari, Managing Director, Amar Ujala.
Naveen Jindal takes charge as president of the Indian Steel Association
- Naveen Jindal, chairman, Jindal Steel and Power took charge as president of Indian Steel Association (ISA), the apex body for steel producers.
- He succeeds Dilip Oommen, CEO of ArcelorMittal Nippon Steel India.
Saurabh Vatsa appointed as MD of Nissan India
- Nissan Motor India appointed Saurabh Vatsa as Managing Director (MD) of the company effective April 1, succeeding incumbent MD Rakesh Srivastava who retires on March 31.
- He was appointed as Deputy Managing Director on January 15.
Awards and Recognitions
Prime Minister conferred with the Order of the Druk Gyalpo
- Prime Minister Narendra Modi was conferred the Order of the Dragon King (Druk Gyalpo), Bhutan’s highest civilian decoration, by His Majesty the King of Bhutan in a public ceremony at the Tendrelthang, Thimphu.
- Prime Minister Modi is the first foreign leader to be given this prestigious award.
Obituary
Damodar Rout passed away
- Damodar Rout, a stalwart of the Biju Janata Dal (BJD) and a seven-time MLA, passed away at 83.
- He was first elected to the Odisha Assembly in 1977 on a Janata Party ticket, then in 1980 as a Janata Party (Secular) nominee, and later in 1990 as a Janata Dal candidate before being elected as a BJD legislator in 2000.
- He switched his constituency from Balikuda-Ersama to the port town of Paradeep in 2009.
- Lastly represented the Ersama-Balikuda constituency as an MLA from 2014 to 2019.
Sports News
Sharath Kamal to be India’s flag bearer of Paris 2024
- Veteran table tennis player and CWG champion Sharath Kamal will be India’s flag bearer at the 2024 Paris Olympic Games, while legendary boxer MC Mary Kom was appointed the chef de mission of the country’s contingent.
- MC Mary Kom will be assisted by luger Shiva Keshavan, who has been appointed the deputy chef de mission.
Pankaj Advani inducted into Billiards Hall of Fame
- Legendary Indian cueist Pankaj Advani achieved yet another milestone in his glorious career as he was inducted into the Hall of Fame at the World Billiards Museum in Shangrao City in China.
- Last November, the 38-year-old Indian star won his 26th IBSF (the International Billiards and Snooker Federation) title after beating compatriot Sourav Kothari who had threatened his chances early on in the billiards’ long-format contest.
Important Days
World Down Syndrome Day 2024
- World Down Syndrome Day is annually observed on March 21.
- Down syndrome occurs when an individual has an extra partial (or whole) copy of chromosome 21.
- The estimated incidence of Down syndrome is between 1 in 1,000 to 1 in 1,100 live births
- Each year, approximately 3,000 to 5,000 children are born with this chromosome disorder.
- In December 2011, the United Nations General Assembly declared March 21 as World Down Syndrome Day (A/RES/66/149).
- The General Assembly decided, with effect from 2012, to observe World Down Syndrome Day on March 21 each year.
World Water Day 2024
- World Water Day is annually observed on March 22.
- In 1992, during the United Nations Conference on Environment and Development held in Rio de Janeiro, the proposal to designate an annual day for water conservation was introduced as part of the UN’s Agenda 21.
- Subsequently, in December 1992, the UN General Assembly formally accepted this proposal through its resolution A/RES/47/193, thereby establishing March 22 as World Water Day.
- Theme – ‘Water for Peace’
World Meteorological Day 2024
- World Meteorological Day is annually observed on March 22.
- The day highlights the essential role that the National Meteorological and Hydrological Services (NMHS) plays towards the safety and well-being of society.
- The day commemorates the formal establishment of the World Meteorological Organisation (WMO).
- On March 23, 1950, the World Meteorological Organisation Convention came into force and became a UN specialised agency in 1951 for meteorology, operation hydrology, and related geophysical sciences.
- Theme – “At the Frontline of Climate Action.”
- World Meteorological Organisation(WMO) – 23/03/1950 (Founded) – Geneva, Switzerland (HQ) – Dr Abdulla Al Mandous (President)
Defence
India Mozambique Tanzania (IMT) Tri Lateral (TRILAT) Exercise
- INS Tir and INS Sujata will participate in the forthcoming 2nd edition of India Mozambique Tanzania (IMT) Tri Lateral (TRILAT) Exercise, a joint maritime exercise.
- The 1st edition of IMT TRILAT exercise conducted in Oct 2022, saw participation of INS Tarkash with the Tanzanian and Mozambique Navies.
- Tanzania – Dodoma (Capital) – Tanzanian shilling (Currency) – Samia Suluhu Hassan (President) – Kassim Majaliwa (Prime Minister) – Swahili, English (Official Language)
- Mozambique – Maputo (Capital) – Metical (Currency) – Filipe Nyusi (President) – Adriano Maleiane (Prime Minister) – Portuguese (Official Language)
Daily Current Affairs - March 22 & 23, 2024 - Consolidated
- UNESCO puts 6 new Madhya Pradesh destinations on tentative list of World Heritage Sites
- 4th Shanghai Cooperation Organisation Startup Forum organized in New Delhi
- ‘Operation Indravati’, launched to rescue Indians in Haiti
- Exim Bank extends $23 million line of credit to Guyana for aircraft procurement
- DBS Bank India Announces USD 250 Million Lending Support for start-ups and New Economy Companies
- RBI issues omnibus framework for recognising SROs for banks, NBFCs, fintechs
- SBI Card and Titan launch ‘Titan SBI Card’
- UBS sees India’s GDP growth moderating in FY25 7.0%
- India and Bhutan Exchanged Several MoUs To Strengthen Partnership
- M&M signs MOU with Adani for electric vehicle charging infrastructure
- NCC signs MoU with NPCIL to raise awareness on peaceful use of nuclear power
- ISRO successfully conducts ‘Pushpak’ Reusable Landing Vehicle landing experiment
- International Telecommunication Union elects India as co-chair of its Digital Innovation Board
- Central Bank of India chief executive M V Rao elected as Indian Banks’ Association Chairman
- Prabowo Subianto Elected as New President of Indonesia
- Simon Harris set to be Ireland’s youngest Prime Minister
- Mariam Mammen Mathew to chair DNPA
- Naveen Jindal takes charge as president of the Indian Steel Association
- Saurabh Vatsa appointed as MD of Nissan India
- Prime Minister conferred with the Order of the Druk Gyalpo
- Damodar Rout passed away
- Sharath Kamal to be India’s flag bearer of Paris 2024
- Pankaj Advani inducted into Billiards Hall of Fame
- World Water Day 2024
- World Meteorological Day 2024
- India Mozambique Tanzania (IMT) Tri Lateral (TRILAT) Exercise
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