Current Affairs One - Liner : 23rd March 2024

• National:
• The Ministry of New and Renewable Energy (MNRE) in India issued guidelines on March 15, 2024 for setting up Hydrogen Hubs under the National Green Hydrogen Mission (NGHM). The mission aims to promote the use of green hydrogen in various sectors of the economy. The MNRE also issued guidelines for the “Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme”, which includes an incentive scheme for electrolyser manufacturing.

• Prime Minister Narendra Modi has announced that India will double its financial support to Bhutan to ₹10,000 crore over the next five years. This support will be used to enhance cooperation in various areas.
• A recent study predicts that India could generate about 600 kilotons of solar waste by 2030 due to the rapid increase in its installed solar capacity, which is expected to reach 292 GW by 2030. The majority of this waste is anticipated to be produced by five states: Rajasthan, Gujarat, Karnataka, Tamil Nadu, and Andhra Pradesh.
• International:
• The UN General Assembly adopted a resolution on March 21, 2024, promoting the use of “safe, secure, and trustworthy” AI systems. This resolution, supported by over 120 Member States, emphasizes the importance of human rights in AI. It recognizes AI’s potential to help achieve the Sustainable Development Goals and calls for the cessation of AI systems that pose risks to human rights.
• The International Telecommunication Union (ITU) has elected India as the co-chair of its Digital Innovation Board. Dr. Neeraj Mittal, Secretary of the Department of Telecommunications, Government of India, led a high-level delegation to the ITU Headquarters in Geneva from March 18-20, 2024.
• Banking:
• The ‘Titan SBI Card’ is a result of a partnership between SBI Card and Titan Company Limited. Launched on March 21, 2024, this card offers benefits across various lifestyle categories. Key features include welcome benefits, exclusive milestone benefits, exclusive Titan instore benefits, reward points on other spends, lounge benefits, and fuel surcharge waiver. The annual fee for the card is Rs. 2999 + Taxes.
• HDFC Bank completed the sale of its stake in HDFC Credila, its education finance arm, on March 19, 2024. The stake was sold for approximately $1.15 billion to private equity firms BPEA EQT and ChrysCapital. After the sale, HDFC retains a 9.99% share in HDFC Credila.
• YES Bank has partnered with the Indian Olympic Association (IOA) and is the official banking partner for Team India at the Paris Olympics 2024. They also launched a special savings account called ‘YES Glory’ for the Indian Olympic contingent. The benefits of this account will also be available to the athletes’ immediate family members
• Federal Bank launched “Flash Pay” on 20th March 2024. It’s a RuPay Smart key chain for contactless payments. It allows secure and convenient payments at millions of merchants across India. It can be used for transactions up to INR 5,000 without any PIN. It can also be used at NCMC-enabled metro stations.
• Economy:
• The inflation rate in the United Kingdom, as measured by the Consumer Prices Index (CPI), was reported to be 3.4% for the month of February 2024. This marked a decrease from the previous month’s rate of 4.0%. The data was officially released on 20th March 2024. This change in inflation rate is influenced by various factors including the prices of goods and services, and economic policies.
• The Indian Direct Selling industry grew by 12% in the fiscal year 2022-23, reaching a turnover of Rs 21,282 crore. The wellness and nutraceutical products contributed 73.5% to the turnover. The number of active direct sellers increased to around 86 lakh. The report was released on March 20, 2024.
• Mous:
• On March 19, 2024, the Council of Scientific and Industrial Research - National Institute for Interdisciplinary Science and Technology (CSIR-NIIST) and the Vikram Sarabhai Space Centre (VSSC) signed a Memorandum of Understanding (MoU) in Thiruvananthapuram, Kerala. The MoU aims to develop advanced materials for space missions, including high-performance composites, ceramics, and coatings.
• On March 21, 2024, the National Cadet Corps (NCC) and the Nuclear Power Corporation of India Limited (NPCIL) signed a Memorandum of Understanding (MoU) in New Delhi. The pact aims to raise awareness about the peaceful use of nuclear power through various programs across India.
• Sports:
• Sharath Kamal, India’s ace table tennis player, will carry the Indian flag at the Paris 2024 Olympics. This will mark his fifth and final Olympics appearance . Kamal, who is ranked World No. 88, holds a record 10 national table tennis championship titles and has secured 13 medals at the Commonwealth Games.
• Defence:
• The Australia-United Kingdom-United States (AUKUS) partnership announced an arrangement for Australia to acquire a conventionally-armed, nuclear-powered submarine (SSN) capability. The SSN, called “SSN-AUKUS”, will be based on the UK’s next-gen SSN design, incorporate US submarine technologies, and be built and deployed by both Australia and the UK.
• Important Days:
• Martyr’s Day, also known as Shaheed Diwas, is observed on March 23rd in India to honor the sacrifices of brave freedom fighters who laid down their lives for the country’s independence. This day commemorates the execution of three young freedom fighters, Bhagat Singh, Rajguru, and Sukhdev, by the British government in 1931.
• Appointments:
• Vaughan Gething, a member of the Welsh Labour and Co-operative Party, made history by becoming the First Minister of Wales on 20th March 2024. His election marked a significant milestone in European politics as he is the first Black leader of any European country.
• Prabowo Subianto, a former Defense Minister and general, has been elected as the new President of Indonesia. He won the presidential election held on February 14, 2024, and the result was declared on March 20, 2024. He will take over from the outgoing President Joko Widodo in October after a transition period.
• Girija Subramanian, the former CMD of the Agriculture Insurance Company of India, has been appointed as the Chairman and Managing Director (CMD) of the New India Assurance Company by the Financial Services Institutions Bureau (FSIB). The announcement was made on March 22, 2024.
• Mariam Mammen Mathew, CEO of Manorama Online, was appointed as the chairperson of the Digital News Publishers’ Association (DNPA) for a two-year term starting from April 1, 2024. The announcement was made on March 22, 2024.
• Govind Dholakia, who is the founder chairman of Shree Ramkrishna Exports and a Rajya Sabha MP from Gujarat, has been appointed as the new chairman of the Surat Diamond Bourse. This appointment took place on March 22, 2024. He took over the position from the previous chairman, Vallabh Lakhani.
• Awards & Honours:
• Bina Agarwal and James Boyce received the first “Global Inequality Research Award” on March 8, 2024. The award recognizes their work on social and environmental inequalities. They will present their work at conferences in Paris in 2024.

Questions:

Q.1 Who has been appointed as the Chairman and Managing Director (CMD) of the New India Assurance Company?
a. Ramesh Kumar
b. Girija Subramanian
c. Anand Mehta
d. Suresh Prabhu
Q.2 Who has been elected as the co-chair of the Digital Innovation Board of the International Telecommunication Union (ITU)?
a. China
b. United States
c. India
d. Australia