Current Affairs One - Liner : 26th March 2024

• National:
• The Ministry of Electronics and Information Technology (MeitY) has designated the Fact Check Unit (FCU) of the Press Information Bureau (PIB) as the central government’s fact-checking unit under the updated Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, which were notified on April 6, 2023. The FCU is responsible for dispelling misinformation related to government policies and schemes.

• Banking:
• The Insurance Regulatory and Development Authority of India (IRDAI) has approved Galaxy Health and Allied Insurance Company to start its health insurance business in India. This decision was made during the 125th meeting of the regulator held on March 19, 2024. The company is led by V Jagannathan, who is also the founder of Star Health and Allied Insurance Company.
• The National Bank for Agriculture and Rural Development (Nabard) has announced that its subsidiary, NAB Samruddhi Finance Ltd (NSFL), has provided $45 million funding for ‘WASH’ (Water, Sanitation & Hygiene) activities. This funding is being provided through 32 partner institutions. The focus of these activities is on sustainable livelihoods and climate-resilient solutions in rural areas.
• On March 26, 2024, Adani Ports and Special Economic Zone Ltd (APSEZ) announced the acquisition of a 95% stake in Gopalpur Ports in Odisha. The deal, valued at ₹30.80 billion, includes stakes from the Shapoorji Pallonji Group and Orissa Stevedores. This marks APSEZ’s seventh port acquisition since 2014. The deal is expected to be completed in Q1 FY25.
• Economy:
• The Department of Economic Affairs (DEA) in India has projected that the country’s growth will be between 6.5% and 7% in FY25. This projection is based on factors like improving global investor confidence in India, declining core inflation, and stable retail inflation. The report was updated on March 22, 2024.
• UBS predicts India’s GDP growth to be 7% in FY 2024-25, a slight decrease from the estimated 7.6% in the current fiscal year. This is due to weaker global growth and local factors such as a decrease in public capital expenditure. Despite this, India is likely to remain one of the fastest-growing economies in the world.
• In February 2024, Indian refiners exploited the US sanctions waiver on Venezuela to import more than 1,75,000 barrels per day (b/d) of crude oil from the South American country, making Venezuela the fifth largest supplier to India. This was a significant development in the global oil market.
• Science & Technology:
• Union Minister of State for Agriculture, Shobha Karandlaje, released a new dwarf coconut variety ‘Kalpa Suvarna’ and two hybrid cocoa varieties developed by the Central Plantation Crops Research Institute (CPCRI). ‘Kalpa Suvarna’ is ideal for tender coconut and copra production and is recommended for cultivation in Karnataka and Kerala. The cocoa varieties – VTL CH I and VTL CH II – have high fat and nutrient contents and are suitable for traditional Karnataka and Kerala belts, Tamil Nadu, and Andhra Pradesh.
• On March 18, 2024, the International Astronomical Union (IAU) honored Indian scientist Professor Jayant Murthy by naming an asteroid after him. The asteroid, previously known as 2005 EX296, is now officially designated as (215884) Jayantmurthy. This recognition is a testament to Professor Murthy’s significant contributions to the field of astrophysics.
• Important Days:
• Purple Day, observed on March 26th, is a global initiative aimed at raising awareness about epilepsy. The day encourages people to wear purple and participate in events to increase understanding of epilepsy and support those affected by it. The color purple symbolizes hope and courage for those living with this neurological disorder.
• Appointments:
• Luís Montenegro, the President of the Social Democratic Party (PSD), has been appointed as the Prime Minister of Portugal. The announcement was made on March 21, 2024, and he is set to take office on April 2, 2024.
• Bhupesh Sushil Rahul was selected as the Chairman and Managing Director (CMD) of United India Insurance Company Limited (UIICL) by the Financial Services Institutions Bureau (FSIB) on March 22, 2024. The final approvals for his appointment are expected to be given by the Appointments Committee of the Cabinet (ACC).
• Awards & Honours:
• French mathematician Michel Talagrand has been awarded the 2024 Abel Prize for his significant contributions to probability theory and functional analysis. His work has had profound impacts in various fields, including mathematical physics and statistics. The announcement was made on March 20, 2024, and the award ceremony will take place in Oslo on May 21, 2024.
• Books:
• ‘Phool Bahadur’ is the first Magahi novel translated into English by Abhay K, a renowned writer from Bihar. The novel, originally written by Jayanath Pati, was first published in 1928 and is based in Biharsharif, Bihar. The English translation was launched at the Dibrugarh University International Literary Festival in March 2024.

Questions:

Q.1 Who is the author of the original Magahi novel ‘Phool Bahadur’?
a. Abhay K
b. Jayanath Pati
c. Biharsharif
d. Dibrugarh University
Q.2 What is the projected growth of India in FY25 according to the Department of Economic Affairs (DEA)?
a. Between 5% and 5.5%
b. Between 7.5% and 8%
c. Between 6.5% and 7%
d. Between 8.5% and 9%