Daily GK Update- 5th Mar, 2024

NATIONAL UPDATES:

 

1. Piyush Goyal launches 'e-Kisan Upaj Nidhi' for Farmers' Fair Prices: Union Minister Piyush Goyal launched the ceremony of ‘e-Kisan Upaj Nidhi’ (Digital Gateway) of the Warehousing Development and Regulatory Authority (WDRA) in New Delhi. The ‘e-Kisan Upaj Nidhi’ initiative will ease the farmers’ warehousing logistics with the help of technology and aid the farmers in receiving fair prices for their produce. The initiative with its simplified digital process can ease the procedure of farmers' storage at any registered WDRA warehouse.

 

2. Youth Affairs Ministry organize finals of National Youth Parliament Festiva: The Youth Affairs and Sports Ministry organizes the finals of the National Youth Parliament Festival in the Central Hall of the Parliament in New Delhi. The NYP is being organised this year based on the theme of 'Young Voices: Engage and Empower for Nation’s Transformation’ The NYPF is being organised from the 9th of February to the 6th of March across the country. This Youth Parliament has been organised at three levels covering 785 Districts of the country.

 

3. Scindia inaugurates country's 1st Green Hydrogen Plant in Stainless Steel: Union Steel Minister Jyotiraditya Scindia virtually inaugurated India's 1st Green Hydrogen Plant in the Stainless Steel Sector at Jindal Stainless Limited, Hisar. This plant will be the world’s first off-grid Green Hydrogen plant for the stainless steel industry and the world’s first Green Hydrogen plant with rooftop and floating solar. This project will reduce carbon emissions by around two thousand 700 Metric Tonnes per annum.

 

4. BPCL teams up with Neeraj Chopra as Brand Ambassador: Bharat Petroleum Corporation (BPCL) has introduced Olympic and World Javelin Champion Neeraj Chopra as the brand ambassador. Neeraj Chopra will serve as the brand ambassador for BPCL’s premium petrol variant, ‘Speed.’ This collaboration adds to BPCL’s list of esteemed brand ambassadors. Previously, the company had partnered with cricketer Rahul Dravid for its ‘Pure for Sure’ initiative and range of ‘MAK lubricants’.

 

INTERNATIONAL UPDATES:

 

1. Govt. permits export of 64 thousand 400 tonnes of onion to UAE & Bangladesh: According to notifications of the Directorate General of Foreign Trade, Onion export of 50 thousand tonnes is permitted to Bangladesh and 14 thousand 400 tonnes is allowed to the UAE through National Cooperative Exports Limited. The Government has also permitted exports of 30 thousand metric tonnes of non-basmati white rice to Tanzania and 80 thousand tonnes of broken rice to Djibouti and Guinea Bissau.

 

2. Singapore to raise salary criteria for foreign executives and professionals: Singapore has announced that the country is set to raise the salary criteria for foreign executives and professionals that companies can hire starting next year. Starting in January next year, foreigners seeking employment passes, typically reserved for well-paid professionals, will need to earn at least 5,600 Singapore dollars per month, an increase from the current requirement of 5,000 Singapore dollars.

 

3. Centre launches ‘DIP’ & ‘Chakshu’ portals to check cyber crime: Union Minister for Communications Ashwini Vaishnav launched the Digital Intelligence Platform (DIP)  and CHAKSHU - Report Suspected Fraud Communication Facility on Sanchar Saathi Portal at a function in New Delhi. Digital Intelligence Platform (DIP) developed by the Department of Telecommunications aims at facilitating coordination among the Stakeholders to Curb the Misuse of Telecom Resources in Cybercrime and Financial Fraud.

 

4. Dissociative Identity Disorder Awareness Day 2024: March 5^th: Dissociative Identity Disorder Awareness Day is celebrated on March 5 every year. Every year, Dissociative Identity Disorder Awareness Day is observed to raise awareness about the difficulties faced by people with Dissociative Identity Disorder and what we can do to improve their standards of life. Dissociative Identity Disorder can happen as a result of childhood trauma, past traumatic experiences and abuse.

 

5. 5 March – International Day for Disarmament and Non-Proliferation Awareness: International Disarmament and Non-Proliferation Awareness Day is celebrated every year on 5 March. The day is celebrated to promote awareness and understanding of disarmament issues, especially among the youth. The inaugural International Day for Disarmament and Non-Proliferation Awareness was observed on March 5, 2023, following a UNGA resolution adopted on December 7, 2022. This annual event seeks to promote public awareness, particularly among youth, about the importance of disarmament.

 

OTHER UPDATES:

DEFENCE

 

1. Rajnath Singh launches ADITI scheme: Defence Minister Rajnath Singh launched the Acing Development of Innovative Technologies with iDEX (ADITI) scheme to promote innovations in critical and strategic defence technologies. Under the scheme, start-ups are eligible to receive grant-in-aid of up to Rs 25 crore for their research, development and innovation endeavours in defence technology. The scheme was launched during the DefConnect 2024 event.

 

2. Iran launches ‘Pars 1’ satellite into orbit from Russia: Russia has launched an Iranian-made research satellite into orbit amid rising tensions with the West. The Pars 1 remote sensing and imaging satellite was launched by a Russian Soyuz rocket from the Vostochny Cosmodrome and will scan Iran’s topography from an orbit of 310 miles (500km). The launch of Pars 1 follows the August 2022 deployment of Iran’s Khayyam satellite, also facilitated by Russia. This pattern of collaboration indicates a strengthening of scientific and technological ties between Iran and Russia, amidst broader geopolitical tensions.

 

SPORTS

 

1. Indian shuttler B Sai Praneeth announces retirement from international badm: Indian shuttler B Sai Praneeth (31-year) has announced his retirement from international badminton. Praneeth battled nagging injuries since the Olympic Games in Tokyo and decided to hang his boots due to that. Praneeth confirmed the news on his social media accounts. In his 24-year-long career, he won a World Championships bronze medal and represented India at the Tokyo 2020 Olympics.

 

2. Pro Kabaddi League Season 10, Puneri Paltan Clinches Maiden Title: Puneri Paltan won the Pro Kabaddi League trophy for the first time as they defeated the Haryana Steelers in the final at the GMC Balayogi Stadium in Hyderabad. The Paltan took an early lead with Ankit opening the scoring for the Steelers and Rahul Sethpal keeping the game interesting with his dynamic offensive moves.

 

BANKING AND FINANCE

 

1. RBI to Launch Interoperable Payment System for Internet Banking in 2024: An interoperable payment system for internet banking transactions, as envisaged in RBI’s Payments Vision 2025 is likely to be launched this year. The necessary approvals have been given to NPCI Bharat BillPay Limited, adding that the system will facilitate quicker settlement of funds for merchants. Internet Banking is a preferred channel for payments like income tax, insurance premiums, mutual fund payments, e-commerce, etc,.

 

2. RBI Directs IIFL Finance to Cease Gold Loans Due to Serious Lapses: The Reserve Bank of India has directed IIFL Finance Limited to stop sanctioning or disbursing gold loans or assigning/ securitising/ selling any of its gold loans. RBI said the company can, however, continue to service its existing gold loan portfolio through the usual collection and recovery processes. RBI found serious deviations in assaying and certifying purity and net weight of the gold at the time of sanction of loans.

 

3. Moody's upgrades India's 2024 GDP forecast to 6.8%: Moody's has raised its GDP forecast for India in 2024 to 6.8%, signaling a positive economic outlook. The global credit rating agency's optimistic stance is grounded in India's position as the fastest-growing economy among G20 nations, driven by robust growth prospects and policy continuity. The agency expects the Reserve Bank of India (RBI) to maintain its policy rate in the coming months, providing additional support for economic stability and growth momentum.

AWARDS AND HONOURS

 

1. Zoya Akhtar and Asma Khan honored with ‘India-UK Achievers’ Award: Renowned filmmaker Zoya Akhtar and British Indian chef Asma Khan were honored at the annual ‘India-UK Achievers’ awards in London. Akhtar’s acclaimed work in cinema and Khan’s culinary contributions were celebrated during the event. Zoya Akhtar was honored with the Living Legend Award for her work in furthering the understanding of India. Chef Asma Khan of the women-run Darjeeling Express restaurant in London was also honoured.

 

Daily GK Update- 4th Mar, 2024

 

NATIONAL UPDATES:

 

1. Amit Shah inaugurates National Urban Cooperative Finance and Development Corporation: Cooperation Minister Amit Shah has launched the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC), the Umbrella organization for the Urban Cooperative Banks in New Delhi. NUCFDC has received a Certificate of Registration from the RBI to operate as a Non-Banking Finance Company and serve as the umbrella organisation for the urban cooperative banking sector. The main objective of NUCFDC should be to help urban cooperative banks adhere to the Banking Regulations Act and bring professionalism in their work.

 

2. L&T commissions India’s first indigenously built green hydrogen electrolyser in Gujarat: Larsen & Toubro (L&T) has commissioned its first indigenously-manufactured electrolyser at the Green Hydrogen Plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat. This step marks L&T Electrolysers Limited’s entrance into the domestic manufacturing of electrolysers, aligning with the company’s focus on enhancing sustainable energy solutions. The electrolyser, with a rated power capacity of 1 MW, expandable to 2 MW, is capable of producing 200 Nm3/Hr of hydrogen. It features two stacks and an Electrolyser Processing Unit (EPU) ML-400, both developed and assembled in India, conforming to international standards.

 

3. Sarbananda Sonowal dedicates first-ever Made-in-India ASTDS tug: Union Minister Sarbananda Sonowal has inaugurated the 60T bollard pull tug named ‘Ocean Grace’ and the Medical Mobile Unit (MMU). The Ocean Grace is the first make in India ASTDS Tug developed by the Cochin Shipyard Limited under MoPSW. The ‘Ocean Grace’ built at a cost of Rs. 45 crores, stands as a pinnacle of maritime engineering, equipped with cutting-edge technology and boasting a remarkable bollard pull of 60 tonnes.

 

4. 4 March – National Safety Day: National Safety Day in India is observed every year on 4 March to spread awareness and commitment to working safely. The National Safety Council established the holiday to raise public awareness of all safety regulations, including those about the environment, workplace safety, traffic safety, and human health safety. Theme 2024 – Safety Leadership for ESG Excellence. The National Safety Council (NSC) of India was established on 4 March 1966. This initiated the observance of National Safety Day in 1972, and since then, it has been celebrated every year to raise awareness about occupational safety and health.

 

INTERNATIONAL UPDATES:

 

1. Shehbaz Sharif elected as PM of Pakistan: Pakistan Muslim League- Nawaz (PML-N) leader Shehbaz Sharif has been elected as the Prime Minister of Pakistan. He secured 201 votes while Omer Ayub Khan, the Imran Khan-backed PTI candidate managed to get 92 votes. The recently concluded general elections have been marred by allegations of mass vote rigging. Imran Khan’s PTI has alleged that several candidates of PML-N and PPP were declared winners despite other candidates securing the most votes.

 

2. 4 March – World Obesity Day: World Obesity Day is observed on March 4 every year. Obesity Day tries to raise awareness about this medical condition. Theme 2024 – Let’s Talk About Obesity And…” According to the World Health Organization, in 2022, overweight affect around 37 million children under 5 globally, and over 390 million children and adolescents aged 5 -19 years were overweight, including 160 million who were living with obesity – 75% of who live in low- and middle-income countries. World Obesity Day also encourages solutions that can help maintain a healthy weight and reverse the obesity crisis with practical measures.

 

OTHER UPDATES:

DEFENCE

 

1. Anurag Agarwal appointed head of Parliament security: IPS officer Anurag Agarwal has been appointed as the head of Parliament security. Agarwal is the 1998-batch officer of the Assam-Meghalaya cadre. Currently an inspector general in CRPF has been appointed as joint secretary (security) for three years. His appointment order was issued by the Lok Sabha Secretariat. The post of JS (Security) is traditionally held by an IPS officer.

 

BANKING AND FINANCE

 

1. FIU imposes 5.49 crore fine on Paytm Payments Bank: Financial Intelligence Unit – India (FIU-IND) has hit Paytm Payments Bank Ltd with a hefty penalty of Rs 5,49,00,000 for alleged violations of anti-money laundering rules under the Prevention of Money Laundering Act (PMLA).

The penalty pertains to issues within a business segment that was discontinued two years ago. The bank was accused of violating rules outlined in the PMLA and its associated regulations, as well as guidelines issued by the Director FIU-IND.

 

2. Flipkart unveils its UPI handle to boost India’s digital evolution: Flipkart has launched its UPI (Unified Payments Interface) handle to enhance digital payment offerings to all users, including the e-commerce major’s over 500 million customers, and boost India’s digital evolution. Powered by Axis Bank, Flipkart UPI will initially be available for Android users. Customers can register for UPI with @fkaxis handle and can do fund transfers and checkout payments using the Flipkart app.

 

3. RBI approves ex-Sebi director as TMB’s part time chairman: The Reserve Bank has appointed Tamilnad Mercantile Bank Ltd (TMB) independent director S. Ravindran as part-time chairman of the bank. RBI approved his appointment with effect from February 29, 2024 till August 2, 2026. Currently, Mr. Ravindran is an independent director on the boards of NSE, LTIDPL Invit Services, Shriram Finance and Bandhan AMC. Prior to assuming charge as part-time chairman of the bank, he has to step down from the directorships in Shriram Finance and Bandhan AMC. Ravindran, 61, has an extensive work experience of 29 years at the Securities and Exchange Board of India (SEBI). He was its executive director from August 2011 to May 2022.

 

AWARDS AND HONOURS

 

1. Pradeep Mahajan receives Maharashtra Bhushan Award 2024: Pradeep Mahajan has been awarded the prestigious Maharashtra Bhushan Award 2024 for his contribution in the field of regenerative medicine. Mahajan is the Founder and Chairman and Managing Director (CMD) of StemRx Hospital and Research Centre along with StemRx Bioscience Solutions. This accolade is a testament to his pioneering efforts and substantial impact in advancing regenerative medicine, offering new hope and innovative treatments to patients worldwide. Under Dr. Mahajan’s leadership, StemRx Hospital and Research Centre has emerged as a leading institution in the field of regenerative medicine.

Daily GK Update- 3rd Mar, 2024

 

NATIONAL UPDATES:

 

1. Leopard numbers show 8% rise from 2018 to 2022: India’s leopard numbers rose by 8% from 12,852 in 2018 to 13,874 in 2022, according to a report made public by the Environment Ministry. While the highest number of leopards were reported in Madhya Pradesh (3,907), only three other States reported over 1,000 animals each — Maharashtra (1,985), Karnataka (1,879) and Tamil Nadu (1,070). While Uttarakhand reported a 22% decline in the big cat numbers — reportedly due to poaching and man-animal conflict, Arunachal Pradesh, Assam and West Bengal saw a collective 150% rise to 349 animals.

 

2. 4 days long ‘Tawi Festival’ begins in Jammu: The four day long ‘Tawi Festival’ begins in Jammu region. This time four-day ‘Tawi festival’ will strictly remain focussed on the promotion of Jammu’s rich, diverse art forms and cultural heritage where the youth will also get a platform to give a vent to their creativities besides sharing thoughts with experts. The festival comprises Seminars, workshops, and talks, performances of folk music and street theatre, classical and folk dance and music, and a Mela, with an emphasis on showcasing entrepreneurship, innovation, local cuisines, and organic products sourced from women’s NGO groups across the Himalayan region.

 

3. Ministry of Women and Child Development organizes ‘Poshan Utsav’: The Ministry of Women and Child Development has organized the Poshan Utsav at The Oberoi. The event aimed to promote good nutrition behavior and highlighted India’s ongoing efforts to combat malnutrition by promoting good nutrition practices. The event was graced by the Union Minister for Women and Child Development and Minority Affairs, Smriti Zubin Irani and Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation (BMGF).

 

INTERNATIONAL UPDATES:

 

1. Cabinet approves establishment of International Big Cat Alliance: The Union Cabinet has approved the establishment of International Big Cat Alliance (IBCA) with headquarters in India with a one-time budgetary support of Rs.150 crore for a period of five years from 2023-24 to 2027-28. PM Modi on the occasion of Global Tiger Day 2019 called for an Alliance of Global Leaders to curb poaching in Asia. While commemorating 50 years of India’s Project Tiger on April 9, 2023, he formally announced the launch of International Big Cat Alliance.

 

2. Nicaragua becomes first Spanish-Speaking nation to recognize IPS: Nicaragua has become the first Spanish-speaking nation to officially recognize the Indian Pharmacopoeia (IP) or Indian Pharma standards. This development follows the signing of a Memorandum of Understanding (MoU) on Pharmacopoeia Cooperation between the Governments of India and Nicaragua. The move is expected to foster stronger ties between the two nations in the areas of healthcare, encouraging the exchange of expertise and resources for improved medical standards.

 

3. 3 February – World Wildlife Day: World Wildlife Day is celebrated annually on March 3 and serves as a poignant reminder of the urgent need to protect and preserve the world’s fauna and flora. Theme 2024 – Connecting People and Planet: Exploring Digital Innovation in Wildlife Conservation. The inception of World Wildlife Day traces back to a proposal made by Thailand to the United Nations General Assembly in 2013.The proposal aimed at dedicating a day to raise awareness about the world’s wild animals and plants. Consequently, March 3 was officially designated as World Wildlife Day in 2014, following the adoption of a resolution by the General Assembly on December 20, 2013.

 

4. 3 March – World Hearing Day: World Hearing Day is observed on 3rd March every year. Objective – To raise awareness about the importance of hearing health and the prevention of deafness. Theme 2024 – Changing mindsets: Let’s make ear and hearing care a reality for all. World Hearing Day was first recognized by WHO in 2007. Previously, the day was recognized as International Ear Care Day. After 2016, WHO changed the name to World Hearing Day.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO conducts successful flight test of VSHORADS missile: Defence Research and Development Organization (DRDO) conducted a successful flight test of a Very Short-Range Air Defence System (VSHORADS) missile from a ground-based portable launcher off the coast of Odisha from the Integrated Test Range in Chandipur. The test was carried out against high-speed unmanned aerial targets under different interception scenarios. The VSHORADS is propelled by a dual thrust solid motor and would be used for neutralising low altitude aerial threats at short ranges.

 

SPORTS

 

1. Paul Pogba banned for four years for doping: France and Juventus midfielder Paul Pogba has been banned for four years for a doping. Pogba was provisionally suspended by Italy’s national anti-doping (NADO Italia) tribunal in September after testing positive for testosterone — a banned substance. The test, performed after Juve’s 3-0 Serie A season-opening victory at Udinese on Aug. 20, detected testosterone, a hormone that increases athletes’ endurance. The 30-year-old was an unused substitute in that game.

 

 

 

 

BANKING AND FINANCE

 

1. GST Collections Jump 12.5% YoY to Rs 1.68 Lakh Crore in Feb 2024: Gross Goods and Services Tax (GST) revenue collected for February 2024 is ₹1,68,337 crore, marking a robust 12.5% increase compared to that in the same month in 2023. This growth was driven by a 13.9% rise in GST from domestic transactions and 8.5% increase in GST from import of goods. GST revenue net of refunds for February 2024 is ₹1.51 lakh crore which is a growth of 13.6% over that for the same period last year. Breakdown of February 2024 Collections-

 

Daily GK Update- 2nd Mar, 2024

 

NATIONAL UPDATES:

 

1. Leopard number increased by more than 1,000 in last four years: The number of leopards has increased by more than one thousand during the period of 2018 to 2022 in the country. According to a report released by the Environment, Forest and Climate Change Ministry, the number of leopards in the country has now reached 13 thousand 874, which was 12 thousand 852 in the year 2018. Central India has recorded the highest population with Madhya Pradesh having three thousand 907 leopards.

 

2. Jagdeep Dhankhar laid the foundation stone of key facilities at IIT Dharwad: Vice-President Jagdeep Dhankhar laid the foundation stone of key facilities at IIT Dharwad in Karnataka. He will also inaugurate the Main Gate Complex, the Knowledge Resource and Data Centre, and the Central Learning Theatre at IIT Dharwad. Mr. Dhankar will be the Chief Guest at the inaugural ceremony of the M.M. Joshi Eye Institute-EYESIRI, a new super-specialty eye hospital.

 

3. FSSAI gives ‘Eat Right Station’ certificate to 150 Railway Stations: The Food Safety and Standards Authority of India (FSSAI) has awarded its prestigious ‘Eat Right Station’ certification to 150 railway stations. The ‘Eat Right Station’ certification process involves stringent audits of food vendors, comprehensive training programs for food handlers, and strict adherence to hygiene and sanitation protocols. Six prominent metro stations across the country have also been accredited as Eat Right Stations.

 

4. Sitharaman launches seven infrastructure projects worth over Rs 1,000 crore: FM Nirmala Sitharaman virtually launched seven infrastructure projects worth over 1,000 crore rupees from New Delhi. The Finance Minister laid the foundation stone for the construction of the Departmental Residential Complex comprising 198 quarters of Type-II and III for the officials of Income Tax Department, in Haryana. Ms. Sitharaman also laid the foundation stone of the Residential Complex at Sector-53, Gurugram.

 

5. Around 5,000 Farmer Producer Organizations registered on ONDC platform: Around 5,000 Farmer Producer Organizations (FPOs) have registered on the Open Network for Digital Commerce, ONDC portal to sell their produce online. The Union Agriculture Ministry said that the move will help FPOs in selling their produce directly to customers across the country by providing better market access. It also said that over eight thousand FPOs have been registered under the Central Sector Scheme called Formation and Promotion of ten thousand FPOs.

 

 

 

INTERNATIONAL UPDATES:

 

1. China agreed to extend a 2 billion dollar loan to Pakistan: The caretaker finance minister of Pakistan, Shamshad Akhtar confirmed that China has agreed to extend a 2 billion dollar loan to Pakistan, which was due in March, for another year. Beijing has formally communicated this decision to Islamabad. This extension comes at a crucial time for Pakistan's economy, which has been grappling with financial challenges. Last summer, Pakistan secured a  3 billion dollar standby arrangement from the IMF to stabilize its economy.

 

2. Indian Coast Guard ships Samarth and Abhinav depart Galle for Colombo: Indian Coast Guard ships Samarth and Abhinav depart Galle for Colombo. At Galle, the ships undertook multifarious engagements with Sri Lanka Coast Guard, including joint training in boarding ops, pollution response, fire fighting & damage control. Enhancing people to people connect, the crew undertook beach cleaning, yoga sessions and also organised visits onboard for families of Sri Lanka Navy, Coast Guard and Port Authority.

 

3. Nicaragua becomes first Spanish-Speaking nation to recognize IPS: Nicaragua has become the first Spanish-speaking nation to officially recognize the Indian Pharmacopoeia (IP) or Indian Pharma standards. This development follows the signing of a Memorandum of Understanding (MoU) on Pharmacopoeia Cooperation between the Governments of India and Nicaragua. The move is expected to foster stronger ties between the two nations in the areas of healthcare, encouraging the exchange of expertise and resources for improved medical standards. The Indian Pharmacopoeia (IP), compiled by the Indian Pharmacopoeia Commission (IPC) under the Ministry of Health & Family Welfare in India, serves as the official compendium of standards for drugs.

 

4. 3 February – World Wildlife Day: World Wildlife Day is celebrated annually on March 3 and serves as a poignant reminder of the urgent need to protect and preserve the world’s fauna and flora. Theme 2024 – Connecting People and Planet: Exploring Digital Innovation in Wildlife Conservation. The inception of World Wildlife Day traces back to a proposal made by Thailand to the United Nations General Assembly in 2013.The proposal aimed at dedicating a day to raise awareness about the world’s wild animals and plants. Consequently, March 3 was officially designated as World Wildlife Day in 2014, following the adoption of a resolution by the General Assembly on December 20, 2013.

 

5. 3 March – World Hearing Day: World Hearing Day is observed on 3rd March every year. Objective – To raise awareness about the importance of hearing health and the prevention of deafness. Theme 2024 – Changing mindsets: Let’s make ear and hearing care a reality for all. World Hearing Day was first recognized by WHO in 2007. Previously, the day was recognized as International Ear Care Day. After 2016, WHO changed the name to World Hearing Day.

 

OTHER UPDATES:

DEFENCE

 

1. Anurag Agarwal appointed head of Parliament security: IPS officer Anurag Agarwal (1998-batch officer of the Assam-Meghalaya cadre) has been appointed as the head of Parliament security.

Currently an inspector general in CRPF has been appointed as joint secretary (security) for three years. His appointment order was issued by the Lok Sabha Secretariat. The post of JS (Security) is traditionally held by an IPS officer.

 

2. DRDO conducts successful flight test of VSHORADS missile: Defence Research and Development Organization (DRDO) conducted a successful flight test of a Very Short-Range Air Defence System (VSHORADS) missile from a ground-based portable launcher off the coast of Odisha from the Integrated Test Range in Chandipur. The test was carried out against high-speed unmanned aerial targets under different interception scenarios. The VSHORADS is propelled by a dual thrust solid motor and would be used for neutralising low altitude aerial threats at short ranges.

 

BANKING AND FINANCE

 

1. Union Minister Amit Shah launches NUCFDC: Cooperation Minister Amit Shah launched the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC), the Umbrella organization for the Urban Cooperative Banks in New Delhi. NUCFDC has received a Certificate of Registration from the RBI to operate as a Non-Banking Finance Company and serve as the umbrella organisation for the urban cooperative banking sector. This initiative aims to modernise and strengthen the Urban Cooperative Banking Sector.

 

2. RBI says 97.62% banknotes of Rs 2000 have returned to bank: The Reserve Bank of India (RBI) announced that 97.62 per cent of the Rs 2000 banknotes have been returned to banks ever since it announced withdrawing these currency notes on May 19, 2023. The central bank said that the circulation of Rs 2000 notes has declined to Rs 8470 crore at the close of business on February 29, 2024. Thus, 97.62% o

 

3. India’s GDP growth at 8.4% in Q3 2023-24: India’s gross domestic product (GDP) for the third quarter of the ongoing financial year accelerated to 8.4 per cent year-on-year, showed data shared by the Ministry of Statistics and Programme Implementation. In the same period last year, the GDP growth was 4.3 per cent. GDP at constant (2011-12) prices in Q3 of 2023-24 is estimated at Rs 43.72 lakh crore, against Rs 40.35 lakh crore in Q3 of 2022-23, showing a growth rate of 8.4 percent.

 

Daily GK Update- 1st Mar, 2024

 

NATIONAL UPDATES:

 

1. Nitin Gadkari laid foundation stone of Dharma Path in Jaunpur: Union Minister for Road Transport and Highways Nitin Gadkari laid the foundation stone of Dharma Path in Uttar Pradesh's Jaunpur. This Dharma Path will connect Jaunpur with Ayodhya, Varanasi, and Mirzapur.

In this, a four-lane road will be constructed from Hauz to Purvanchal University and from Purvanchal University to Shahganj for 3,405 crore rupees. In this, a four-lane road will be built on the Jaunpur to Akbarpur route under National Highway No. 135-A.

 

2. Ministry of MSME organized CPSE Conclave on Public Procurement Policy: The ministry of MSME organized the CPSE Conclave on Public Procurement Policy in Delhi to recognize the contribution of Central Public Sector Enterprises, CPSEs towards fulfilling the mandate under Public Procurement Policy. The conclave provided an interactive platform to deliberate upon new interventions and ideas on the successful implementation of the Public Procurement Policy mandate. The conclave focussed on sensitizing, recognizing, and felicitating the CPSEs.

 

3. Cabinet approves Rs 75,021 crore rooftop solar scheme for 10 mn households: The Union Cabinet approved a rooftop solar scheme as 'PM Surya Ghar: Muft Bijli Yojana' to install rooftop solar panels across 10 million households with a total outlay of Rs 75,021 crore. Beneficiaries of the government's rooftop solar scheme Pradhanmantri Surya Ghar: Muft Bijli Yojana will get free electricity of up to 300 units per month. This will mean a Rs 30,000 subsidy for a 1 kW system, Rs 60,000 for 2 kW systems, and Rs 78,000 for 3 kW systems or higher.

 

4. Smriti Irani launches revamped Jiyo Parsi Programme: Union Minister Smriti Zubin Irani launched the revamped Jiyo Parsi Programme and the Avesta-Pahlavi Language Centre at the Mumbai University in an event at New Delhi. The importance of the revival of languishing languages, especially those related to notified minority communities. The MMA in collaboration with Mumbai University aims to establish the Centre and required infrastructure for undertaking different programs with an amount of 11.20 Crore rupees.

 

5. V K Paul launches National Birth Defects Awareness Month 2024 in New Delhi: Dr V K Paul(NITI Aayog Member) launched the National Birth Defects Awareness Month 2024 at a function in New Delhi. The theme of National Birth Defect Awareness Month 2024 is “Breaking barriers: inclusive support for children with birth defects”. Under the Rashtriya Bal Swasthya Karyakram of the Health Ministry, various activities for nationwide awareness of birth defect prevention and psychosocial impact will take place throughout the month.

 

 

 

INTERNATIONAL UPDATES:

 

1. Zero Discrimination Day 2024: March 1: Zero Discrimination Day is observed every year on March 1 to promote inclusion, equality, and peace and raise awareness about the impact of discrimination worldwide. The theme for Zero Discrimination Day 2024 is “To protect everyone's health, protect everyone's rights." The day was first celebrated on March 1, 2014,established by UNAIDS.

 

2. World Seagrass Day 2024:March 1: ‘World Seagrass Day’ is celebrated every year on 1 March. This day is celebrated to raise awareness about seagrass and its important functions in the marine ecosystem. The theme of World Seagrass Day for the year 2024 has been set as “Healthy Seagrass, Healthy Planet”.

 

3. Russia launches Iran's imaging satellite 'Pars 1' into space: Russia launched Pars 1, an Iranian imaging satellite, into space. This satellite has the capability of sending high-resolution images of surface locations from its orbit 500 km above Earth. The rocket also carried a Russian weather satellite and 17 Russian small satellites. The launch of the Pars 1 satellite from Russia was in line with the development of space and international interactions with various countries.

 

4. 2nd India-Italy Consular Dialogue held in New Delhi: The 2nd India-Italy Consular Dialogue was held in New Delhi. The Dialogue between the two strategic partner countries reinforced the strong people-to-people ties and cooperation that both countries share across consular issues of mutual interest. Both sides discussed ways of enhancing cooperation on a wide range of issues such as quicker visa processing, mobility of students and professionals, safe and legal migration and enabling smooth travel of their nationals.

 

5. India’s rank remains unchanged at 42 in International IP Index 2024: India ranks 42nd in the International IP Index for 2024, out of 55 countries evaluated. India’s overall score also remained unchanged at 38.64 percent according to the 12th edition of the US Chamber of Commerce’s Global Innovation Policy Center’s International IP Index. The Index evaluates the IP frameworks of the world’s top 55 economies, revealing significant improvements in 20 economies. While the United States is once again the world leader, there were notable advancements led by Saudi Arabia, Brazil, and Nigeria.

 

6. 1 March – World Seagrass Day: World Seagrass Day is observed every year on March 1. This day is celebrated to raise awareness about seagrass and its important functions in the marine ecosystem. Theme 2024 – Healthy Seagrass, Healthy Planet On 23 May 2022, the United Nations General Assembly (UNGA) declared 1 March as World Seagrass Day. It is celebrated annually by UNGA. The UNEP was also invited to facilitate the observance of the day. In this way the first World Seagrass Day was organized in 2023.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO conducts successful flight test of VSHORADS missile in Chandipur: Defence Research and Development Organisation (DRDO) conducted a successful flight test of a Very Short-Range Air Defence System VSHORADS missile from a ground-based portable launcher off the coast of Odisha from the Integrated Test Range in Chandipur The test was carried out against high-speed unmanned aerial targets under different interception scenarios During the test flight, the targets were intercepted and destroyed by the missiles, meeting the mission objective

 

2. 1 March – World Civil Defence Day: World Civil Defence Day is observed every year on 1 March. This international event serves as a crucial reminder of the importance of being prepared for emergencies and disasters. World Civil Defence Day was first established in 1990 by the International Civil Defence Organisation (ICDO) to commemorate the anniversary of the adoption of the ICDO’s Constitution.

 

BANKING AND FINANCE

 

1. Paytm discontinues inter-company agreements with Paytm Payments Bank: Fintech major Paytm has mutually agreed to discontinue various inter-company agreements with its payments bank unit Paytm Payments Bank (PPBL) to “reduce dependencies". The goal is to enhance the governance of Paytm Payments Bank, making it more independent of its shareholders. The RBI instructed PPBL to cease further deposits, credit transactions, and top-ups on customer accounts after March 15.

 

2. RBI cancels licence of Rajasthan-based Sumerpur Mercantile Urban Coop Bank: The Reserve Bank of India (RBI) has cancelled the licence of Sumerpur Mercantile Urban Cooperative Bank, Pali (Rajasthan), as the lender does not have adequate capital and earning prospects. The Registrar of Cooperative Societies, Rajasthan, has also been requested to issue an order for winding up the bank and appoint a liquidator. On liquidation, every depositor will be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).

 

AWARDS AND HONOURS

 

1. Sunil Bharti Mittal receives Honorary Knighthood from King Charles: Bharti Enterprises founder and chairman, Sunil Bharti Mittal has become the first Indian citizen to receive an Honorary Knighthood from the United Kingdom's King Charles III The award grants Mr. Mittal the title of Knight Commander of the Most Excellent Order of the British Empire, recognising his contributions to fostering stronger business ties between India and the UK An honorary Knighthood is one of the highest honours granted by the British Sovereign to civilians