- National:
- The Union Cabinet approved a budget of INR 2207.50 Cr for the Central Armed Police Forces Institute of Medical Sciences (CAPFIMS) to operate as a campus of AIIMS Delhi. A Memorandum of Association (MoA) was also signed between CAPFIMS and AIIMS. This collaboration will enhance healthcare infrastructure, provide opportunities for medical graduates, and create potential for employment.
- Grid Controller of India Limited (GRID-INDIA) was conferred with the status of Miniratna Category-I Central Public Sector Enterprise (CPSE) by the Ministry of Power, Government of India on March 20, 2024. This recognition is a testament to GRID-INDIA’s pivotal role in managing the Indian Power System and its commitment to ensuring the efficient transfer of electric power with utmost reliability, security, and economic efficiency.
- The 3rd Edition of the North East Games 2024 began on March 18, 2024 in Nagaland. The event was inaugurated by Nagaland Chief Minister Neiphiu Rio at the Regional Centre for Sporting Excellence (RCSE), Sovima, Chümoukedima, Nagaland. The games feature athletes from all eight North Eastern states.
- International:
- The 2014-2023 decade was the warmest on record, with 2023 being the warmest year ever, according to the World Meteorological Organization. Urgent action is needed to reduce greenhouse gas emissions and transition to renewable energy. The shift from La Niña to El Niño in 2023 contributed to the temperature rise, and 2024 could be even hotter.
- Banking:
- Axis Bank has pledged to contribute Rs. 100 crores over 5 years to the National Cancer Grid (NCG), a network of over 300 cancer centres in India coordinated by the Tata Memorial Hospital (TMH). The partnership aims to enhance access to cancer care, advance cancer research, and revolutionize digital health adoption across the NCG’s affiliated centres.
- On March 13, 2024, the Reserve Bank of India (RBI) imposed a penalty of ₹1.31 crore on Tamilnad Mercantile Bank Limited. The penalty was due to the bank’s non-compliance with certain RBI directions. However, this action is based on regulatory compliance deficiencies and does not pronounce upon the validity of any transactions or agreements entered into by the bank with its customers.
- The Reserve Bank of India (RBI) has directed all agency banks to remain open for public on March 31, 2024, to facilitate government transactions for the fiscal year 2023-24. This includes both public and private sector banks. The banks are also asked to publicize the availability of banking services on this day.
- Economy:
- The HSBC Flash India Composite Purchasing Managers’ Index (PMI) rose to an eight-month high of 61.3 in March 2024, led by the strongest manufacturing output in nearly three-and-a-half years. The growth was attributed to efficiency gains, robust consumer appetite, investment in technology, and favourable market conditions.
- The insurance sector in India received Rs 54,000 crore as FDI in the last 9 years. This was due to the increase in the permissible FDI limit from 26% in 2014 to 74% in 2021. The number of insurance players increased from 53 to 70 as of January 2024. Insurance penetration increased from 3.9% in 2013-14 to 4% in 2022-23, while insurance density rose from USD 52 in 2013-14 to USD 92 in 2022-23.
- Mous:
- On March 14, 2024, the Ministry of Skill Development and Entrepreneurship (MSDE) announced several strategic initiatives in New Delhi. These included the signing of 19 MoUs, the launch of four new courses, the establishment of two Centres of Excellence in Bhubaneswar, and the launch of Mock Test App 2.0. The aim is to equip the youth with skills for domestic and international markets, and highlight the role of digital infrastructure in India’s growth.
- REC Power Development and Consultancy Limited (RECPDCL) and Bharat Heavy Electrical Limited (BHEL) signed a Memorandum of Understanding (MoU) on 15th March, 2024 in New Delhi. The MoU aims to jointly develop utility-scale Renewable Energy Projects across India through a dedicated Special Purpose Vehicle (SPV). The initial capacity of the SPV will be 1 GW, focusing on the commercial and industrial segment.
- Defence:
- The Indian Army established a new unit called the Signals Technology Evaluation and Adaptation Group (STEAG) on March 18, 2024. The unit will research and evaluate advanced communication technologies such as AI, machine learning, software-defined radios, electronic warfare systems, 6G networks, and more.
- Important Days:
- March 21 is celebrated as World Poetry Day. It was declared by UNESCO (the United Nations Educational, Scientific and Cultural Organization) in 1999. The purpose of the day is to promote the reading, writing, publishing, and teaching of poetry throughout the world and, as the UNESCO session declaring the day says, to “give fresh recognition and impetus to national, regional and international poetry movements.”
- The United Nations (UN) French Language Day is observed on March 20th every year to celebrate multilingualism and cultural diversity. It promotes the equal use of all 6 official languages of the UN. The day is also recognized as the International Day of La Francophonie. In 2024, the theme for the day is “Create, innovate, undertake in French.”
- World Down Syndrome Day (WDSD) is observed globally on March 21st to raise awareness about Down syndrome, a condition caused by the triplication of the 21st chromosome. The day is marked with various activities and events, such as the “Lots Of Socks” campaign. The theme for WDSD 2024 is “End The Stereotypes”.
- Appointments & Resignation:
- Leo Varadkar, the Indian-origin Prime Minister of Ireland, announced his resignation on March 20, 2024. He stated that he will step down before the next general election in the Republic of Ireland. He cited both personal and political reasons for his decision.
- Union Minister Pashupati Kumar Paras resigned from the Union Cabinet on March 19, 2024. Following his resignation, Union Minister Kiren Rijiju was given an additional charge of the Ministry of Food Processing Industries on March 20, 2024.
- Awards & Honours:
- Dr. Uma Rele, Principal of Nalanda Nritya Kala Mahavidyalaya in Mumbai, was honored with the Maharashtra Gaurav Award on March 10, 2024. This prestigious award recognizes her significant contributions to Indian classical dance, particularly Bharata Natyam.
- Dr. Sultan Al Jaber, the President of COP28, received the ‘CERAWeek Leadership Award for Building Global Consensus towards a Sustainable Energy Future’ on March 19, 2024. The award recognizes his role in shaping the UAE Consensus for global climate action and his efforts in advancing sustainable energy initiatives.
- Books:
- Sivasubramanian Ramann, the Chairman and Managing Director of the Small Industries Development Bank of India (SIDBI), presented two books to the Union Minister of Finance, Nirmala Sitharaman. The first book, “Prabhaav”, is an impact study of the Fund of Funds for Startups (FFS), conducted by CRISIL. It highlights the transformative effects of the scheme on the startup ecosystem in India. The second book is a comprehensive study on “Cluster Development”, compiled by the team at SIDBI.
Questions:
Q.1 What is the full form of STEAG?a. Signals Technology Evaluation and Adaptation Group
b. Systems Technology Evaluation and Adaptation Group
c. Signals Technology Evaluation and Application Group
d. Systems Technology Evaluation and Application Group
Q.2 Who is the President of COP28?
a. Dr. Ali Al Jaber
b. Dr. Ahmed Al Jaber
c. Dr. Mohammed Al Jaber
d. Dr. Sultan Al Jaber
