Current Affairs One - Liner : 29th March 2024

• National:
• The Armed Forces (Special Powers) Act (AFSPA) has been extended in eight districts of Nagaland from April 1, 2024, to September 30, 2024. This decision was taken after reviewing the law and order situation in the state.

• The Indian Council of Medical Research (ICMR) announced on March 27, 2024, an initiative to establish evidence-based guidelines for the prevention, screening, diagnosis, and management of lung cancer in India. This will involve systematic reviews and meta-analyses conducted by selected researchers, using the Grading of Recommendations Assessment, Development, and Evaluation (GRADE) tool.
• On March 28, 2024, India announced the launch of a new database to record and monitor crimes against UN peacekeepers. This initiative, hosted on the Unite Aware platform, is part of India’s commitment to promoting accountability and justice for peacekeepers. The database will facilitate comprehensive analysis of these crimes and help in devising effective strategies to address them.
• International:
• Thailand’s lawmakers have passed a bill to recognize same-sex marriage, making it the first Southeast Asian country to do so. The bill still needs Senate approval and royal endorsement to become law. If enacted, it will provide equal rights to LGBTQ+ couples in areas like tax savings, property inheritance, medical treatment consent, and child adoption.
• Banking:
• The Insurance Regulatory and Development Authority of India (IRDAI) has retained the Domestic Systemically Important Insurers (D-SIIs) status for LIC, GIC Re, and New India Assurance Company on March 27, 2024. These companies are critical for the uninterrupted availability of insurance services to the national economy and will continue to be subjected to enhanced regulatory supervision.
• SBI Mutual Fund acquired a 3% stake in Savita Oil Technologies on March 22, 2024. This acquisition involved the purchase of 20.73 lakh shares at an average price of Rs. 408 per share, making the total transaction value approximately Rs. 84.57 crore. This move is part of SBI Mutual Fund’s investment strategy.
• Economy:
• Morgan Stanley revised India’s GDP growth forecast on March 27, 2024. The estimate for FY24-25 was raised to 6.8% from 6.5%. The forecast for FY24 is 7.9%. The revision is due to continued industrial and capex activity. The growth is expected to be broad-based.
• The Combined Index of Eight Core Industries, which is a key indicator of industrial performance in a country, has shown a provisional growth of 6.7% in February 2024. This growth is in comparison to the index of February 2023. The data for this was released on March 28, 2024.
• The Centre’s fiscal deficit increased to ₹15.01 lakh crore between April and February of 2024, which is about 86.5% of the full-year revised target of ₹17.34 trillion. The total expenditure incurred was ₹37.47 lakh crore, or 83.4% of the Revised Estimate for 2023-24. The Centre aims to reduce the fiscal deficit to 5.8% of the GDP during FY24.
• Science & Technology:
• The Yunhai-3 (02) satellite was launched by China on March 26, 2024. It’s designed to conduct atmospheric and marine environment surveys, monitor space conditions, and aid in disaster prevention and mitigation. The launch took place at the Taiyuan Satellite Launch Center using a Long March 6A rocket.
• Reports:
• The “Indian Gaming Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)” report by Mordor Intelligence projects the Indian gaming market to grow from USD 3.49 billion in 2024 to USD 7.24 billion by 2029 at a CAGR of 15.68%. Factors such as the integration of VR, AR, and the metaverse into games, government’s promotion of game creation, rise in female leadership, and shift towards mobile and multiplayer gaming are driving this growth.
• The Expert Committee formed by the International Financial Services Centres Authority (IFSCA) has submitted a report on developing GIFT IFSC as a ‘Global Finance and Accounting Hub’. The report recommends a comprehensive regulatory regime for bookkeeping, accounting, taxation, and financial crimes compliance services from IFSC in India. It also proposes strategies for promoting GIFT IFSC globally, including measures for enhancing workforce skills.
• Defence:
• Israel Aerospace Industries (IAI) inaugurated its Indian subsidiary, AeroSpace Services India (ASI), on March 27, 2024. The establishment of ASI is part of the ‘Make in India’ initiative and aims to strengthen IAI’s partnership with the Defence Research and Development Organisation (DRDO). ASI will focus on developing and supporting advanced systems for the Indian armed forces
• The first production series fighter of LCA Tejas Mark-1A completed its maiden flight in Bengaluru. This advanced variant of the LCA Mk-1 has superior features like digital radar warning receivers, a superior AESA radar, advanced BVR air-to-air missiles, and external self-protection jammer pods. The Indian Air Force (IAF) has ordered 83 Tejas Mk-1A jets.
• Important Days:
• Good Friday, observed on March 29 in 2024, is a Christian holy day commemorating the crucifixion of Jesus. It’s part of the Paschal Triduum during Holy Week. Many Christian denominations observe this day with fasting and church services. In some churches, the Service of the Great Three Hours’ Agony is held from noon until 3 pm, reflecting the time of Jesus’ death on the cross.
• Appointments:
• Nidhu Saxena has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of the Bank of Maharashtra. She will be replacing AS Rajeev, who has been selected as Vigilance Commissioner in CVC. Her term will be for a period of three years, effective from March 27, 2024. Prior to this, she was the Executive Director of Union Bank of India.
• Kamal Kishore, former Head of Department at the National Disaster Management Authority (NDMA) in India, was appointed as the Special Representative for Disaster Risk Reduction at the United Nations Office for Disaster Risk Reduction (UNDRR) on 27th March 2024.
• Indian men’s hockey team goalkeeper PR Sreejesh and Chile’s Camila Caram were appointed as co-chairs of the FIH Athletes Committee on March 27, 2024. They will lead the committee in its consultative role and contribute to the ‘Athletes First’ approach under FIH’s ‘Empowerment and Engagement’ strategy.
• Justice Mohammad Yousuf Wani was sworn in as an Additional Judge of the High Court of Jammu & Kashmir and Ladakh on 25th March 2024. The oath was administered by Chief Justice N. Kotiswar Singh. This has increased the strength of the High Court to 16 judges.
• Books:
• The Zoological Survey of India has indeed published a book titled ‘An Illustrated Guide to the Lepidoptera of India: Taxonomic Procedures, Family Characters, Diversity and Distribution’. The book is authored by Dr. Dhriti Banerjee, Director, Zoological Survey of India (ZSI), along with Dr. Navneet Singh, Dr. Rahul Joshi, Dr. P. C. Pathania, Scientists of ZSI, and a Lepidoptera expert from Hong Kong, Dr. R.C. Kendrick.
• Obituaries:
• Dr. Gurulinga Kapse, a renowned writer and former chairman of the Karnataka Sahithya Academy, passed away on March 26, 2024. He was known for his work in Kannada literature and contributions to children’s literature.
• Daniel Kahneman, a Nobel laureate and pioneer in behavioral economics, has passed away at 90. His work transformed economics into a behavioral science, challenging the notion that people are fully rational. His book, “Thinking, Fast and Slow”, was a global bestseller.

Questions:

Q.1 What was the Centre’s fiscal deficit between April and February of 2024?
a. ₹10 lakh crore
b. ₹15.01 lakh crore
c. ₹20 lakh crore
d. ₹25 lakh crore
Q.2 Who has been appointed as the new Managing Director and Chief Executive Officer (MD & CEO) of the Bank of Maharashtra?
a. AS Rajeev
b. Vigilance Commissioner
c. Union Bank of India
d. Nidhu Saxena