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Current Affairs One - Liner : 24th February 2024

Published on February 24, 2024
  • National:
    • Assert AI launched Pratham, the world’s first no-code computer vision platform, on February 21, 2024. Pratham allows users to upload videos or connect CCTV cameras for analysis without the need for coding or AI expertise. It has applications across various industries, including retail, manufacturing, and security.
Current Affairs One - Liner : 24th February 2024
    • Mahindra Finance partnered with IBM on February 13, 2024, to create a “Super App” for financial inclusion. The app will provide 24/7 digital access to various lending businesses, including personal loans, enterprise loans, and more. IBM will support the design and digital infrastructure of the app. This initiative aims to enhance financial inclusion across India.
    • Assam’s FY25 budget, presented by Finance Minister Ajanta Neog, is Rs 2.9 lakh crore with a deficit of Rs 774.47 crore. Key initiatives include financial aid for girls in government colleges (MMNM), support for women in self-help groups, housing schemes for the needy, police personnel, and safai karmacharis, and expanded benefits under Orunodoi 2.0 for transgender and divyangjan individuals. No new tax was proposed.
    • Haryana’s budget for 2024-25, presented by CM Manohar Lal Khattar on February 23, 2024, is Rs 1.89 lakh crore. It’s 11.37% higher than the previous year’s revised estimates. The budget includes Rs 1.34 lakh crore as revenue expenditure and Rs 55,420.25 crore as capital expenditure. No new tax has been proposed.
    • On February 24, Prime Minister Narendra Modi launched several initiatives for the cooperative sector in New Delhi. These included the world’s largest grain storage plan in the cooperative sector, which is a pilot project implemented in 11 Primary Agricultural Credit Societies (PACS) across 11 states. The foundation stone was also laid for the construction of godowns and other agricultural infrastructure in an additional 500 PACS. Furthermore, a project for computerization in 18,000 PACS was inaugurated.
    • The Union Fisheries, Animal Husbandry & Dairying Minister, Parshottam Rupala, announced that the Union government has increased the death compensation for fishermen from one lakh rupees to five lakh rupees. This is a significant increase and will provide more financial security to the families of fishermen in the event of accidental death.
    • The ‘Gati Shakti Research Chair’ was established at the Indian Institute of Management (IIM) in Shillong on 23rd February 2024. It aims to spearhead research on multimodal logistics, particularly focusing on the North-East region of India.
  • International:
    • On February 21-22, 2024, India and Oman agreed to cooperate in the field of archives. The agreement includes organizing a joint exhibition, exchanging digital copies of documents, facilitating an exchange program involving experts, and bringing out a joint publication.
  • Banking:
    • The Asian Development Bank (ADB) approved a USD 23 million loan on February 22, 2024, to construct an International Fintech Institute (IFI) inside Gujarat International Finance Tec-City (GIFT) in India. The IFI will enhance fintech education, research, and innovation.
  • Economy:
    • The Flash Composite PMI for India indeed reached a seven-month high of 61.5 in February 2024. This suggests that the economy continues to perform exceptionally well. The improved performance in manufacturing and services is reflected in the increase of the Flash Manufacturing PMI to 60.4, up from 59.7 in January, and the Flash Services PMI climbing to 62 from 60.4.
    • India Ratings and Research (Ind-Ra) has projected India’s GDP to grow at 6.9% in FY24 and 6.5% in FY25. This growth is expected to be supported by sustained government capex, soft global commodity prices, and signs of growth in the private corporate capex cycle. They also forecast consumer inflation to ease to 4.8%, and wholesale inflation to rise to 2.2% in FY25.
  • Science & Technology:
    • SpaceX launched the ‘Merah Putih 2’ satellite on a Falcon 9 rocket from Florida’s Cape Canaveral Space Force Station on February 20, 2024. The first stage of the rocket landed back on a droneship in the Atlantic Ocean. The satellite was deployed into geosynchronous transfer orbit and will provide internet service in Indonesia for the next 15 years. This was SpaceX’s 16th launch in 2024.
  • Sports:
    • Magnus Carlsen won the inaugural 2024 Freestyle Chess G.O.A.T. Challenge on February 16, 2024. The event took place in Weissenhaus, Germany. He defeated GM Fabiano Caruana in the final and took home the $60,000 top prize.
    • Tristan Stubbs, a South African cricketer, recently scored a triple century in a first-class match. This achievement has placed him in the record books as he became just the fifth South African to score a triple century in franchise cricket in South Africa.
  • Defence:
    • On February 22, 2024, the Cabinet Committee on Security (CCS) approved a ₹19,000 crore deal to acquire over 200 BrahMos Extended Range (ER) supersonic cruise missiles for the Indian Navy.
    • The Digital Fly by Wire Flight Control Computer (DFCC) was successfully integrated and flown in the Tejas Mk1A prototype LSP7 on 19th Feb 2024. The DFCC, developed by the Aeronautical Development Establishment (ADE), Bengaluru, features a Quadraplex Power PC based Processor, high speed autonomous state machine based I/O controller, and enhanced computational throughput. The flight was piloted by Wg Cdr Siddarth Singh KMJ (Retd) of National Flight Test Centre.
  • Important Days:
    • Central Excise Day is observed annually on the 24th of February in India. This day is celebrated to honor the service of the Central Board of Excise and Custom (CBEC) to the country. In 2024, it will indeed fall on Friday, the 24th of February. The day is marked by various activities including workshops, seminars, and discussions related to excise policies and principles.
  • Awards & Honours:
    • Vellayan Subbiah, the Chairman of Cholamandalam Finance and Executive Vice Chairman of Tube Investments of India, has indeed been conferred the EY Entrepreneur of the Year Award 2023. He was selected for this prestigious award by a nine-member jury.
  • Appointments:
    • Jacintha Kalyan, originally a receptionist at the Karnataka State Cricket Association (KSCA), has become India’s first female pitch curator. Over her 30-year tenure at KSCA, she learned on the job and expressed her interest in becoming a curator. Her appointment marks a significant step in breaking gender barriers in sports infrastructure management.
  • Obituaries:
    • Former Karnataka cricketer K Hoysala, aged 34, tragically passed away due to a cardiac arrest. The incident occurred at Bengaluru’s RSI cricket ground after a match.

Questions:

Q.1 Who won the inaugural 2024 Freestyle Chess G.O.A.T. Challenge?
a. GM Fabiano Caruana
b. Magnus Carlsen
c. Vishwanathan Anand
d. Garry Kasparov
Q.2 What is Pratham?
a. A coding platform
b. A manufacturing tool
c. A security system
d. A no-code computer vision platform
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