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Current Affairs One - Liner : 2nd March 2024

Published on March 02, 2024
  • National:
    • On February 28, 2024, Union Minister Smriti Zubin Irani launched the logo and website for the Alliance for Global Good – Gender Equity and Equality. This initiative aims to promote gender equality globally by sharing good practices and investing in women’s health, education, and enterprise. The Alliance is supported by the Bill & Melinda Gates Foundation, the CII Centre for Women Leadership, the World Economic Forum, and Invest India.
Current Affairs One - Liner : 2nd March 2024
    • The Indian government approved the establishment of three semiconductor units on February 29, 2024. These units will be set up by Tata Electronics Private Limited (TEPL), Tata Semiconductor Assembly and Test Pvt Ltd (TSAT), and CG Power. The construction of these units will commence within the next 100 days from the approval date.
    • The Odisha government approved the establishment of the State Water Informatics Centre (SWIC) on February 29, 2024. The SWIC will coordinate, collect, and disseminate water resources data, and will operate under the Department of Water Resources.
    • Chapchar Kut is a spring festival celebrated by the Mizo people in Mizoram, India. It marks the end of the Jhum cultivation month. The festival includes traditional dances, music, and skits. It’s typically celebrated on the first Friday of March.
    • The International Big Cat Alliance (IBCA) is a global coalition for the conservation of big cats, approved by the Union Cabinet of India. It aims to centralize successful practices and resources for big cat conservation. The IBCA focuses on seven big cats, five of which are found in India. The alliance was launched by India in April 2023 during the 50th anniversary of Project Tiger.
    • On March 1, 2024, Union Minister Nitin Gadkari laid the foundation stone for 10 national highway projects in Jaunpur, Uttar Pradesh. These projects, costing Rs 10,000 crore, are part of the PM Gatishakti National Master Plan. The significant project among these is the Prayagraj-Dohrighat Corridor Project, which connects Purvanchal Expressway, 11 national highways, 2 state highways, 5 railway stations, and 2 airports. These projects aim to improve connectivity, boost the economy, and increase employment.
  • Banking:
    • The National Urban Co-operative Finance and Development Corporation Limited (NUCFDC) was inaugurated by Union Home Minister Amit Shah on 2nd March 2024. The NUCFDC, a Non-Banking Finance Company (NBFC), aims to modernize and strengthen the Urban Cooperative Banking Sector in India. It plans to raise a capital base of Rs.300 crores to support Urban Cooperative Banks and develop a shared technology platform to improve service offerings and reduce costs.
    • The Financial Intelligence Unit-India (FIU-IND) imposed a penalty of ₹5.49 crore on Paytm Payments Bank Ltd on March 1, 2024, for violations of the Prevention of Money Laundering Act (PMLA), 2002, and the PML Rules, 2005.
    • In January 2024, the growth in bank credit in India moderated to 16.2% year-on-year, down from 16.7% in the previous year. This slowdown was primarily due to a decrease in credit growth to the industry, services, and personal loans sectors. However, credit growth to agriculture and allied activities improved during this period.
    • On February 29, 2024, the National Electronic Funds Transfer (NEFT) system in India processed a record 4.1 crore (41 million) transactions in a single day. This system, managed by the Reserve Bank of India (RBI), operates 24/7, 365 days a year. The Real Time Gross Settlement (RTGS) system, another important payment system in India, processed its highest volume of 16.25 lakh (1.625 million) transactions in a day on March 31, 2023.
    • Policybazaar Insurance Brokers, a subsidiary of PB Fintech, has received approval from IRDAI to operate as a composite insurance broker. This allows them to sell reinsurance products, aiming to increase insurance penetration in India through technology and data analytics.
  • Economy:
    • Gross GST collections rise 12.5% to Rs 1.68 lakh crore in February. A total of 1,68,337 crore rupees gross GST revenue has been collected during February. This marks a robust 12.5 percent increase compared to that in the same month last year.
  • Defence:
    • On March 1, 2024, the Indian Ministry of Defence signed five capital acquisition contracts worth Rs 39,125.39 crore. The contracts were with Hindustan Aeronautics Limited (HAL) for RD-33 Aero Engines for MiG-29 aircraft, Larsen & Toubro Limited for Close-in Weapon System (CIWS) and High-Power Radar (HPR), and BrahMos Aerospace Private Limited (BAPL) for procurement of BrahMos missiles and Ship borne BrahMos system.
  • Important Days:
    • The 48th Civil Accounts Day was celebrated on March 1, 2024. The event was presided over by Union Finance Secretary and Secretary Expenditure, Dr. T. V. Somanathan. The theme of the event was improving service delivery through end-to-end digitalisation for secure and efficient financial management. The focus was on the Public Financial Management System (PFMS) as an aid to Cash Management and Data-Driven Governance.
  • Appointments:
    • Mundkur Shyamprasad Kamath has been appointed as the Managing Director of Mangalore Refinery and Petrochemicals Limited (MRPL). He assumed his new role on February 28, 2024. Mr. Kamath has over 30 years of experience in the downstream hydrocarbon industry.
    • IPS officer Anurag Agarwal has been appointed as the head of Parliament security on 1st March 2024. He is currently an inspector general in CRPF and is a 1998-batch officer of the Assam-Meghalaya cadre. He has been appointed as joint secretary (security) for a term of three years.
    • Ajay Kanwal has been re-appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Jana Small Finance Bank. The Reserve Bank of India (RBI) has approved his re-appointment for three years, starting from March 21, 2024, and lasting until March 20, 2027. Ajay Kanwal has been serving as the MD and CEO of Jana Small Finance Bank since March 2018.
  • Books:
    • Odisha Chief Minister Naveen Patnaik released a coffee table book titled ‘FIH Odisha Hockey Men’s World Cup 2023’. The book, published by Sportstar, captures the highlights of the FIH Odisha Hockey Men’s World Cup 2023 and showcases Odisha’s commitment to hockey.
  • Obituaries:
    • Aziz Qureshi, a veteran leader of the Congress party and former Governor of Uttar Pradesh, Uttarakhand, and Mizoram, passed away on March 1, 2024. He was undergoing treatment at a hospital in Bhopal due to a prolonged illness.

Questions:

Q.1 Who inaugurated the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC)?
a. Narendra Modi
b. Amit Shah
c. Rajnath Singh
d. Nirmala Sitharaman
Q.2 Who was appointed head of Parliament security on 1st March 2024?
a. Anurag Agarwal
b. Ramesh Kumar
c. Suresh Singh
d. Rajesh Sharma
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