Daily Current Affairs – March 27, 2024
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Daily Current Affairs - Banking - March 27, 2024
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Banking and Finance
NTPC ties up $200-million loan with Japan Bank for International Co-operation
- NTPC group has inked foreign currency loan agreements worth JPY 30 billion, or roughly $200 million, with the Japan Bank for International Co-operation (JBIC).
- The loan facility of around ₹1,650 crore extended by the Japanese Government’s policy-based financial institution, is divided into two equal halves for NTPC and its clean energy solutions arm NTPC Renewables Energy (NREL).
- 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.
- NTPC Limited (National Thermal Power Corporation Limited) – 07/11/1975 (Founded) – New Delhi (HQ) – Gurdeep Singh (Chairman & MD)
Reserve Bank of India imposes monetary penalty on Co-operative Bank
- The Reserve Bank of India has imposed a penalty of ₹59.90 lakh on Nashik-based Janalaxmi Cooperative Bank for non-compliance with regulations.
- The central bank also imposed a penalty of ₹28.30 lakh on Solapur Janata Sahakari Bank for appointing a member on its board of management who did not satisfy the ‘fit and proper’ criteria and failure to reconstitute the panel within the specified time and contravention of Supervisory Action Framework by the lender by sanctioning fresh loans carrying risk weights of more than 100 per cent in FY22.
- It also imposed a fine of ₹50,000 on Chikkamagaluru District Cooperative Central Bank, Karnataka for delay in reporting of frauds to National Bank for Agriculture and Rural Development (NABARD).
- The RBI has also imposed a monetary penalty of ₹25,000 on The Dindigul Urban Co-operative Bank from Tamil Nadu for sanction of loans to nominal members in excess of the prescribed ceiling.
Business and Economy
DBS Group: Q4 GDP growth expected to ease to 6.3%
- DBS Group Research expects India’s GDP growth to moderate to 3 per cent in the Q4 ended March 31, 2024, from 8.4 per cent recorded in the Q3 this fiscal.
- However, aided by an improvement in credit, and external trade in goods and services during the current quarter, India’s GDP growth for the current fiscal is expected to average 7 per cent.
- This is slightly better than the earlier forecast of 6 per cent for FY’23-24.
Agreements and MoUs signed
CBI sign Working Arrangement with Europol for cooperative relations
- The Central Bureau of Investigation (CBI) signed a Working Arrangement with the European Union Agency for Law Enforcement Cooperation (Europol), for establishing cooperative relations between the law enforcement authorities of India and the Europol.
- The Working Arrangement was signed by Europol Executive Director Catherine De Bolle and CBI Director Praveen Sood during a virtual event, in the presence of senior CBI and Europol officials.
- This arrangement promotes direct cooperation between both organisations to build on their respective mandates, strategies and to explore the potential for synergies.
- This Working Arrangement also enables wide cooperation among all the law enforcement agencies in India and 27 European countries that Europol represents, as well as third countries and organisations associated with Europol.
- This Working Arrangement is comprehensive and includes 26 detailed articles enumerating the modalities for wide-ranging cooperation in over 30 different crime categories.
- The cooperation, in addition to exchange of information, may include the exchange of specialist knowledge, general situation reports, results of strategic analysis, participation in training activities as well as providing advice and support in individual criminal investigations.
Science and Technology
Election Commission Keeps Close Eye On Election Process Through The CVIGIL App
- The Election Commission is keeping a close eye on the election process through the cVIGIL app.
- It is a single app for recording, reporting and resolving violations of model code of conduct.
- Through this app, online complaints regarding violations of model code of conduct can be made by capturing photos, videos etc.
- The cVIGIL app of Election Commission has become an effective tool in the hands of people to flag election code violations.
- The citizens can report Model Code of Conduct and expenditure violations through this app.
- Chief Election Commissioner Rajiv kumar said that the cVIGIL empowers citizens to report model code of conduct violations and assured action within 100 minutes.
- cVIGIL is user-friendly and easy to operate application, which connects vigilant citizens with District Control Room, Returning Officer and Flying Squads Teams.
- By using this app, the citizens can immediately report on incidents of political misconduct within minutes and without having to rush to the office of the returning officer.
- As soon as the complaint is sent on the cVigil app, the complainant will receive a unique ID through which the persons will be able to track the complaint on their mobile.
IIT-Madras partners with French firm for deep-tech innovation
- The Indian Institute of Technology-Madras (IIT-M) has partnered with the French aerospace and defence firm, Starburst Accelerator (SARL), to set up an innovative hub for start-ups.
- The institute has received a fund of €100 million.
- The institute will enable the firm to set up accelerator programmes to boost aviation, space and defence ecosystem in India.
ISRO’s POEM-3 mission accomplishes zero orbital debris mission
- The Indian Space Research Organisation (ISRO) has achieved another milestone as the PSLV Orbital Experimental Module-3 (POEM-3) met its fiery end through a re-entry into the Earth’s atmosphere.
- PSLV-C58/XPoSat mission has practically left zero debris in orbit.
- The PSLV-C58 Mission was accomplished on January 1, 2024.
- POEM-3 was configured with a total of 9 different experimental payloads to carry out technology demonstrations and scientific experiments on the newly developed indigenous systems.
- Out of these, 6 payloads were delivered by NGEs through IN-SPACe.
- Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)
International Astronomical Union (IAU) approves Chandrayaan-3 landing site name 'Shiva Shakti'
- The International Astronomical Union (IAU) has approved the Chandrayaan-3 landing site name ‘Shiva Shakti’.
- For the unversed, ISRO’s Chandrayaan-3 was launched on July 14, 2023, from Satish Dhawan Space Centre Second Launch Pad in Sriharikota, Andhra Pradesh, India.
- The spacecraft landed on the Moon’s South Pole on August 23, 2023.
- Shortly after the successful landing of the Chandrayaan-3, on August 26, PM Modi announced that the point where the moon lander of Chandrayaan-3 touched down would be called ‘Shiv Shakti’.
- The origin of the name as, a “compound word from Indian mythology that depicts masculine (Shiva) and feminine (Shakti) duality of nature; Landing site of Chandrayaan-3’s Vikram Lander.
- International Astronomical Union (IAU) – 1919 (Founded) – Paris, France (HQ) – Debra Meloy Elmegreen (President)
Acquisitions and Mergers
CCI approves Adani Power’s acquisition of Lanco Amarkantak Power
- Competition Commission of India (CCI) has given its nod for Adani Power’s acquisition of 100 per cent equity share capital of Lanco Amarkantak Power Ltd.
- In another transaction, CCI has approves subscription to CCPS B of API Holdings by MEMG LLP and 360 ONE.
- Competition Commission of India (CCI) – 14/10/2003 (Founded) – New Delhi (HQ) – Ravneet kaur (Chairperson)
Appointments
Bassirou Diomaye Faye Named as Senegal’s Next President
- In Senegal, little known opposition leader Bassirou Diomaye Faye has been named as the country’s next president.
- He would replace Macky Sall.
- He is the 5th President of Senegal.
- Senegal – Dakar (Capital) – West African CFA franc (Currency) – Bassirou Diomaye Faye (President) – Sidiki Kaba (Prime Minister) – French (Official Language)
Envoys of five nations present credentials to the President of India
- The President of India, Droupadi Murmu accepted credentials from the Ambassadors/High Commissioner of Philippines, Uzbekistan, Belarus, Kenya and Georgia at a ceremony held at Rashtrapati Bhavan.
- Those who presented their credentials were:
- E. Mr Josel Francisco Ignacio, Ambassador of the Republic of Philippines
- E. Mr Sardor Rustambaev, Ambassador of the Republic of Uzbekistan
- E. Mr Mikhail Kasko, Ambassador of the Republic of Belarus
- E. Mr Peter Maina Munyiri, High Commissioner of the Republic of Kenya
- E. Mr Vakhtang Jaoshvili, Ambassador of Georgia
Law Commission Chairman Justice Ritu Raj Awasthi Resigns
- The Law Commission Chairman, Justice Ritu Raj Awasthi, has resigned from the commission after a 17-month tenure as the chairperson of the commission and will take oath as one of the three judicial members of the Lokpal.
- Justice Awasthi assumed his tenure in November 2022 as chairperson of the Law Commission of India, along with five members of the commission.
- Before the Law Commission, Justice Ritu Raj Awasthi was the Chief Justice of the Karnataka High Court from October 11, 2021, to July 2, 2022.
- He was a judge of the Allahabad High Court from April 13, 2009, to October 10, 2021.
Salgaocar elected as chairperson of CII western region for 2024-25
- M Salgaocar & Brother’s president Swati Salgaocar has been elected as the chairperson of CII’s western region for 2024-25.
- BG Li-In Electricals’ chairman and managing director Rishi Kumar Bagla has been elected as the deputy chairman.
Sadanand Date appointed as chief of NIA
- IPS officer Sadanand Vasant Date had been appointed as the new Director General of the National Investigation Agency (NIA).
- Sadanand Vasant Date a 1990-batch Indian Police Service (IPS) office of Maharashtra cadre, has been appointed as the new Director General of the NIA for a tenure up to his superannuation on December 31, 2026, or until further orders as the incumbent chief of the anti-terror agency, Dinkar Gupta, will retire on March 31.
- Rajeev Kumar, an accomplished IPS officer from the Rajasthan cadre, has been appointed as the Director General of the Bureau of Police Research and Development (BPR&D).
- Piyush Anand, a 1991-batch Uttar Pradesh cadre IPS officer, has been entrusted with the responsibility of leading the National Disaster Response Force (NDRF).
- Currently serving as the Special DG of the Central Industrial Security Force (CISF).
- He has been given the new charge for a period of two years from the date of joining the post or until further orders, as incumbent NDRF chief Atul Karwal will retire on March 31.
Abhay Thakur appointed as India's next ambassador to Myanmar
- Senior diplomat Abhay Thakur, who is at present an Officer on Special Duty in the Ministry of External Affairs, has been appointed as the country’s next envoy to Myanmar.
- The 1992-batch officer of the Indian Foreign Service (IFS) had served as sous-sherpa of the G20 process during India’s presidency of the influential bloc.
- Myanmar – Naypyidaw (Capital) – Kyat (Currency) – Myint Swe (President) – Min Aung Hlaing (Prime Minister) – Burmese (Official Language)
Neeraj Chopra named as Eveready's new brand ambassador
- Reigning Olympic and Asian Games gold medalist in Javelin Throw, Neeraj Chopra joined Bollywood bigwigs like Akshay Kumar and Amitabh Bachchan as he was named the newest brand ambassador of Eveready.
- Previously he was appointed as the brand ambassador for Bharat Petroleum Corporation (BPCL) premium petrol ‘speed’.
- Visa Inc., the global leader in digital payments, has signed up Olympic gold medalist and World no. 1 in men’s javelin throw, Neeraj Chopra as a Team Visa athlete, ahead of the Olympic Games Paris 2024.
- In December 2023, Neeraj Chopra, was named a Laureus ambassador and became the second Indian to be named Laureus ambassador after former cricketer Yuvraj Singh was honoured in 2017.
- Laureus is a global sports-based charity that works to improve the lives of young people.
Sports News
Haryana crowned champion at boxing Sub Junior National Championship
- Haryana clinched the team titles in both the boys and girls categories with an impressive combined haul of 19 medals at the boxing Sub Junior National Championship.
- Haryana, the reigning champion in the girls section, successfully defended its title after finishing on top of the table with 64 points.
- It won 10 medals including seven gold, one silver and two bronze.
- Delhi and Maharashtra finished second and third with 34 and 31 points, respectively.
- Boxers from Delhi won one gold, three silver and four bronze medals while Maharashtra ended its campaign with a gold, three silver and two bronze medals.
- Haryana boxers showcased their might in the boys category as well, winning nine medals which included six gold, two silver and one bronze to secure the first position with 62 points.
- Uttarakhand finished second with 34 points (three gold and three silver medals) followed by Uttar Pradesh (one gold, three silver, one bronze medal).
- The tournament witnessed the participation of 612 boxers, including 337 boys and 275 girls.
Important Days
World Theatre Day 2024
- World Theatre Day is annually observed on March 27.
- This day is a celebration for those who can see the value and importance of the art form “theatre”, and acts as a wake-up-call for governments, politicians and institutions which have not yet recognised its value to the people and to the individual and have not yet realised its potential for economic growth.
- The first World Theatre Day Message was written by Jean Cocteau in 1962.
- 2024 message was written by Norwegian writer Jon Fosse (2023 Nobel Prize in Literature) and the event is jointly organized by the International Theatre Institute (ITI) and the Chinese Theatre Association (CTA), hosted by the “Langfang Silk Road International Arts Center”, with the support of the Langfang Municipality.
- International Theatre Institute (ITI) – 1948 (Founded) – Paris, France (HQ) – Tobias BIANCONE (Director General)
Daily Current Affairs - March 27, 2024 - Consolidated
- NTPC ties up $200-million loan with Japan Bank for International Co-operation
- Reserve Bank of India imposes monetary penalty on Co-operative Bank
- DBS Group: Q4 GDP growth expected to ease to 6.3%
- CBI sign Working Arrangement with Europol for cooperative relations
- Election Commission Keeps Close Eye On Election Process Through The CVIGIL App
- IIT-Madras partners with French firm for deep-tech innovation
- ISRO’s POEM-3 mission accomplishes zero orbital debris mission
- International Astronomical Union (IAU) approves Chandrayaan-3 landing site name ‘Shiva Shakti’
- CCI approves Adani Power’s acquisition of Lanco Amarkantak Power
- Bassirou Diomaye Faye Named as Senegal’s Next President
- Envoys of five nations present credentials to the President of India
- Law Commission Chairman Justice Ritu Raj Awasthi Resigns
- Salgaocar elected as chairperson of CII western region for 2024-25
- Sadanand Date appointed as chief of NIA
- Abhay Thakur appointed as India’s next ambassador to Myanmar
- Neeraj Chopra named as Eveready’s new brand ambassador
- Haryana crowned champion at boxing Sub Junior National Championship
- World Theatre Day 2024
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