Daily GK Update- 14th Mar, 2024

 

NATIONAL UPDATES:

 

1. India’s Index of Industrial Production grows by 3.8% in January 2024: India’s industrial production grew 3.8 per cent in January 2024, according to official data released by the government. Factory output measured in terms of the Index of Industrial Production (IIP) witnessed a growth of 5.8 per cent in January 2023. The IIP grew 5.9 per cent during April 2023 to January 2024 compared to a 5.5 per cent expansion in the year-ago period. In January 2024, mining production rose 5.9 per cent, and power output increased to 5.6%.

 

2. ADB to provide USD 181 min loan to improve livability, mobility in Ahmedabad: India has signed a 181 million dollars loan with the Asian Development Bank (ADB) to improve urban livability and mobility in Ahmedabad. The loan will fund development in areas transitioning from rural to urban, called Peri-urban areas. Under the Ahmedabad Peri-urban Livability Improvement Project, 166 km of water distribution network, 126 km of climate-resilient stormwater drainage, 300 km of sewerage systems, and four sewage treatment plants will be constructed. The Project will also support 10 junction improvements along the existing Sardar Patel Ring Road to improve connectivity of peri-urban areas to Ahmedabad.

 

3. Anurag Thakur launches PB-SHABD to offer news feed to media outlets: Information and Broadcasting Minister Anurag Singh Thakur launched PB-SHABD, a news-sharing service from Prasar Bharati in New Delhi. PB-SHABD stands for Prasar Bharati – Shared audio-visuals for Broadcast Dissemination He also launched revamped websites of Akashvani News and DD News and updated News on the Air mobile app. The SHABD service is being offered free of cost for the first year as an introductory offer and will provide news stories in all major Indian languages across fifty categories. CEO of Prasar Bharti – Gaurav Dwivedi

 

4. Gyanesh Kumar, Sukhbir Sandhu appointed as new Election Commissioners: Former bureaucrats Sukhbir Singh Sandhu from Punjab and Gyanesh Kumar from Kerala have been named as the new Election Commissioners by a panel chaired by Prime Minister Narendra Modi, committee member and Congress leader Adhir Ranjan Chowdhury. The appointments come in the wake of the recent resignation of Election Commissioner Arun Goel, just days ahead of the upcoming Lok Sabha elections. With the retirement of Anup Pandey in February and Goel’s resignation, the three-member Election Commission panel was left with only the Chief Election Commissioner, Rajiv Kumar. Six names came up before the panel for the selection of the two ECs and the names of Mr. Sandhu and Mr. Kumar were finalised by a majority of members of the high-powered panel.

 

 

 

 

INTERNATIONAL UPDATES:

 

1. India and Dominican Republic signs protocol for establishment of Joint Economic and Trade Committee: The protocol for the establishment of the Joint Economic and Trade Committee (JETCO) between India and the Dominican Republic was signed. The protocol envisages strengthening and developing cooperation on trade, services, industrial technologies, and various other sectors by means of technical assistance, training programmes, and capacity building. It will be pivotal in mitigating challenges faced by the trade and industry and provide a platform for sharing of knowledge and best practices between the two countries. India primarily imports gold from the Dominican Republic and exports pharmaceuticals, marine products, motor vehicles, two and three-wheelers, etc. to them.

 

2. India and Bhutan signed MoU in the field of Energy Efficiency and Energy Conservation Measures: The Union Cabinet chaired by Prime Minister Narendra Modi approved the signing of MoU between India and Bhutan on extending co­operation in the field of Energy Efficiency and Energy Conservation Measures. The MoU was signed between Bureau of Energy Efficiency, Ministry of Power, Government of India and Department of Energy, Ministry of Energy and Natural Resources, Royal Government of Bhutan. As part of this MoU, India aims to assist Bhutan to enhance energy efficiency in the household sector by promoting star labeling programme developed by Bureau of Energy Efficiency.

 

3. Foreign Secretary Vinay Kwatra granted six-month extension: The government gave Foreign Secretary Vinay Mohan Kwatra a six-month extension, till end-October 2024. The Appointments Committee of the Cabinet has approved extension in service of Vinay Mohan Kwatra as Foreign Secretary for a period of six months beyond 30.04.2024 i.e. up to 31.10.2024 or until further orders, whichever is earlier. Kwatra, a 1988 batch officer was appointed Foreign Secretary in April 2022, which was extended through a subsequent order to grant him a two-year term till April 30, 2024.

 

4. 14 March – International Day of Action for Rivers: International Day of Action for Rivers is observed every year on March 14. Objective – To spread awareness about the importance of rivers and climate change. Theme 2024 – Water for All the International Day of Action against Dams and For Rivers, Water, and Life was approved at the first International Meeting of People Impacted by Dams in March 1997 in Curitiba, Brazil. On March 14, river experts from 20 different nations announced the “Day of Action for Rivers”. The aim of the participants was to form a coalition against the degradation of ecologically sensitive water bodies, rivers and watersheds.

 

5. 14 March 2024 – World Kidney Day: World Kidney Day is observed every year on second Thursday of March. This year World Kidney Day is observed on 14th March. Objective – To raise awareness about the importance of kidney health and the increasing burden of kidney diseases worldwide. Theme 2024 – Kidney Health for All – Advancing Equitable Access to Care and Optimal Medication Practice World Kidney Day was first observed in 2006 with the slogan ‘Are Your Kidneys ok?’.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Retail inflation dropped a tad to 4-month low of 5.09% in February 2024: India’s retail inflation eased marginally to 5.09 per cent on an annual basis in February as against 5.10 per cent in the previous month, data released by the Ministry of Statistics & Programme Implementation. The number has remained within the Reserve Bank of India’s (RBI) tolerance band of 2-6 per cent. On a sequential basis, the inflation rate increased to 0.16 per cent against a contraction of (-)0.11 per cent in the previous month. The rural inflation rate remained unchanged at 5.34 per cent, meanwhile, the urban inflation rate declined to 4.78 per cent from 4.92 per cent in January.

 

2. Kotak Mahindra Bank sells 2% stake in KFin Tech: Kotak Mahindra Bank has sold a 2% stake in KFin Technologies through the open market for Rs 208 crore. The private sector lender sold 3,470,000 shares of KFin Technologies at Rs 600.28 a share, bulk deals data on the BSE showed.

As of December end, Kotak Mahindra Bank held a 9.80% stake in KFin Technologies. Kotak Mahindra Bank invested Rs 310 crore in KFin Technologies in September 2021.

 

3. L&T Finance signs $125-m pact with JICA to aid rural, peri-urban financing: L&T Finance Holdings Ltd (LTFH) has signed a financing pact with Japan International Cooperation Agency (JICA) for $125 million to support financing in rural and peri-urban areas in India, particularly women borrowers. Last November, LTFH had sourced $125-million loan from Asian Development Bank, & as part of the co-financing agreement, additional $125-million loan is now raised from JICA. At least 40% of the proceeds would be allocated to women borrowers, while the rest would be to support farmers and MSMEs, besides loans to purchase new two-wheeler vehicles, including electric two-wheelers.

 

Daily GK Update- 13th Mar, 2024

 

NATIONAL UPDATES:

 

1. Tamil Nadu govt. launches ‘Neengal Nalama’ Scheme: Tamil Nadu State government has launched the Neengal Nalama Scheme with the aim of improving the health index and social well-being of all citizens and making them aware of the Tamil Nadu government schemes. This scheme involves government officials reaching out to beneficiaries across the state to inquire about any challenges or difficulties they may have faced while availing themselves of various Tamil Nadu government schemes. This scheme will be monitored by the welfare department of Tamil Nadu, which will ensure that it solves the problems of Tamil Nadu citizens regarding various schemes.

 

2. PM Modi inaugurates 15 Airport Projects: Prime Minister Narendra Modi has inaugurated 15 airport projects, including the revamped Terminal 1 of the Indira Gandhi International Airport in Delhi, worth over Rs.9,800 crore. The project virtually launched by the PM during an event at Uttar Pradesh’s Azamgarh included 12 new terminal buildings of Pune, Kolhapur, Gwalior, Jabalpur, Delhi, Lucknow, Aligarh, Azamgarh, Chitrakoot, Moradabad, Shravasti and Adampur Airports. Additionally, foundation stones were laid for new terminal buildings at Kadapa, Hubballi, and Belagavi airports, signaling a significant boost to India’s aviation infrastructure.

 

3. Tata Power Solar completes India’s largest solar-BESS project in Chhattisgarh: Tata Power Solar Systems Limited (TPSSL), a subsidiary of Tata Power Renewable Energy Limited (TPREL), has completed India’s largest Solar and Battery Energy Storage Systems (BESS) project at Rajnandgaon in Chhattisgarh. It comprises a 100 MW Solar PV Project and a 120 MWh Utility Scale Battery Energy Storage System (BESS). TPSSL secured the Rs 945 crore project from SECI in December 2021, handling engineering, construction, and commissioning of the project.

 

4. MoRD partners with IIT Delhi to work collaboratively in Geospatial Technology and Artificial Intelligence: The Ministry of Rural Development has signed a MoU with the Indian Institute of Technology Delhi to formalize their partnership in applications of geospatial technology and artificial intelligence. The project is to be executed by the HydroSense lab led by Manabendra Saharia. The MoU centred around the project “BhuPRAHARI,” an initiative aimed at leveraging ground and space-based geospatial technologies along with Artificial Intelligence to monitor and manage assets under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

 

5. Nayab Singh Saini elected as new CM of Haryana: BJP leader Nayab Singh Saini has become the new Chief Minister of Haryana, succeeding Manohar Lal Khattar. The announcement comes close on the heels of Manohar Lal Khattar and his entire cabinet submitting their resignations to Haryana Governor Bandaru Dattatreya. Nayab Singh Saini was unanimously elected the BJP’s Legislative Party leader in the presence of Khattar and Haryana-in-charge Biplab Dev.

 

6. Deepak Ballani appoints as DG of ISMA: Industry body Indian Sugar & Bio-energy Manufacturers Association (ISMA) has announced the appointment of Deepak Ballani as its new Director General. With over 25 years of extensive experience in public policy, government affairs, and organizational management, Ballani assumes this pivotal role with a wealth of expertise. Prior to joining ISMA, Ballani served as the Director General at the All-India Plastics Manufacturers Association, where he spearheaded policy advocacy, government affairs management, and international partner management.

 

INTERNATIONAL UPDATES:

 

1. 11 March – World Plumbing Day: World Plumbing Day is celebrated on March 11 annually to honor the critical role that plumbing plays in societal health. Plumbing is, after all, the reason that our cities and towns are so clean. Without proper plumbing, all the human defecation and waste would remain in the city. It is an international event initiated by the World Plumbing Council to recognize the crucial role plumbing plays in societal health and amenity. The idea behind World Plumbing Day is for people worldwide to pause and reflect on the vital role of plumbing in preserving health and way of life, or in building sustainable, disease-free futures for millions in developing countries.

 

2. 13 March – No Smoking Day: No Smoking Day is celebrated every year on the second Wednesday of March. This year is fall on 13 March. It is a day dedicated to spreading awareness about the destructive impacts of smoking and to inspire individuals to give up smoking. It is a day to promote healthy ways of life, and a smoke-free environment. The history of No Smoking Day traces back to 1984, when a charity called ‘No Smoking Day’ was founded.

 

OTHER UPDATES:

 

SPORTS

 

1. Indian sailor Vishnu Saravanan clinches gold medal at Europa Cup: Indian sailor Vishnu Saravanan won the gold medal at the Europa Cup 2024 in the ILCA 7 category in Mallorca, Spain.

The event was organized by Reial Club Nautic Port de Pollenca. Saravanan topped the 91-boat race with 17 net points. Australia’s Lawson McAullay won the bronze with 22 net points at the event. The ILCA7 is a category within the ILCA -International Laser Class Association sailing class.

Saravanan became the first Indian sailor to qualify for successive Olympics.

 

 

 

 

 

BANKING AND FINANCE

 

1. Fintech GIPL merges with North East Small Finance Bank, gets CCI nod: The Competition Commission of India (CCI) has approved the merger of a financial technology company, Garagepreneurs Internet Pvt Ltd with the North East Small Finance Bank. The proposed transaction comprises the merger of a financial technology company, GIPL (including Quadrillion Finance Pvt Ltd (QFPL) (an NBFC-SI-ICC) and Intergalactory Foundry Pvt Ltd (IFPL) with North-East Small Finance Bank (NESFB) (including RGVN (North-East) Microfinance Ltd (RGVN)), pursuant to the composite scheme of amalgamation to be filed before the jurisdictional National Company Law Tribunal and certain related transactions.

 

2. SIDBI gets $24.5 million from GCF for ‘Avaana’ fund: Small Industries Development Bank of India (SIDBI) has received $24.5 million from Green Climate Fund (GCF) for its maiden anchored project `Avaana Sustainability Fund (ASF)’ valued at $120 million. GCF, a pivotal component of the historic Paris Agreement, is the world’s largest climate fund. The primary aim of the ASF project is to invest in early-stage companies harnessing technology-led innovation to spur climate solutions and sustainability in India.

 

3. BoB launches green term deposit scheme with 7.15% interest: Bank of Baroda (BoB) has launched the BoB Earth Green Term Deposit Scheme, aimed at raising deposits for financing eligible environment-friendly projects and sectors. The scheme offers customers the dual benefits of stable financial returns and contribution to a greener planet. It offers annual interest rates, ranging from 6.75 per cent for a tenure of 12 to 18 months to 7.15 per cent for 777 days.

Additionally, for longer tenures of 1,111 days, 1,717 days, and 2,201 days, the interest rates are set at 6.40 per cent per annum. Funds collected through this scheme will be directed towards financing green initiatives such as renewable energy.

 

4. IndusInd Bank launched all-in-one payment wearables: IndusInd Bank has introduced ‘Indus PayWear,’ a new wearable payment solution, available on Mastercard. These wearables enable users to tokenise their IndusInd Bank cards for tap-and-pay transactions at contactless Point-of-Sale (PoS) terminals worldwide. Indus Paywear aims to deliver unparalleled flexibility, convenience, and security to users. It is a fine example of how Mastercard leverages its expertise to allow consumers the power to choose between and make payments using their favorite wearable device.

 

AWARDS AND HONOURS

 

1. Srinivasan Swamy receives 2024 IAA Golden Compass Award: Srinivasan K. Swamy, CMD of integrated marketing services company RK Swami Ltd. has been presented with IAA Goden Compass Award at the 45th IAA World Congress held in Penang, Malaysia. Penang Governor Tun Ahmad Fuzi Abdul Razak presented the award to Mr. Swamy. The award honours those who have significantly contributed to the world stage in the field of marketing, advertising and media. This is the first time this award is being bestowed upon an Indian industry leader.

 

Daily GK Update- 12th Mar, 2024

 

NATIONAL UPDATES:

 

1. PM Modi inaugurates Kochrab Ashram in Sabarmati: Prime Minister Narendra Modi inaugurated the redeveloped Kochrab Ashram and launched the master plan of the Gandhi Ashram Memorial at Sabarmati in Gujarat. Kochrab was the first Ashram established by Mahatma Gandhi after he returned to India from South Africa in 1915. In independent India, this date is a witness to the beginning of a historic occasion.

 

2. Nayab Singh Saini takes oath as new Haryana chief minister: BJP leader Nayab Singh Saini become the new Chief Minister of Haryana, succeeding Manohar Lal Khattar. Manohar Lal Khattar and his entire cabinet submitting their resignations to Haryana Governor Bandaru Dattatreya earlier in the day In the 90-member Haryana assembly the BJP has 41 MLAs, it also enjoys the support of 5 independent MLAs and the HLP MLA Gopal Kanda.

 

3. Shri Kishor Makwana assumes charge of Chairman NCSC: Shri Kishor Makwana assumed the charge of Chairman of National Commission for Scheduled Castes in New Delhi. He said the Commission will work not only to ensure justice to the SCs but will also remain pro-active to prevent any form of injustice to the Community. The NCSC will engage to participate and advise on the planning process of socio-economic development of the Scheduled Castes and to prevent atrocities against them. He has been an Author of more than 33 books.

 

4. A S Rajeev Sworn in as Vigilance Commissioner in CVC: Banker A S Rajeev was sworn in as a member of the Central Vigilance Commission in New Delhi. He was administered the oath of office as the Vigilance Commissioner in the Central Vigilance Commission by the Central Vigilance Commissioner Praveen Kumar Srivastava. A S Rajeev has more than 38 years of experience in four public sector banks Syndicate Bank, Indian Bank, Vijaya Bank and Bank of Maharashtra. It consists of a Chairman and two vigilance commissioners.

 

5. Mandaviya launches credit assistance programme for Jan Aushadhi Kendras: Union Minister Dr. Mansukh Mandaviya launched a credit assistance programme for Jan Aushadhi Kendras.  The initiative is set to be implemented through a Memorandum of Understanding (MoU) between the Small Industries Development Bank of India (SIDBI) and the Pharmaceuticals and Medical Devices Bureau of India (PMBI). These centers serve as lifelines for millions by providing accessible and affordable medication.

 

6. AS Rajeev sworn in as Vigilance Commissioner: Former Bank of Maharashtra Chief Executive AS Rajeev was sworn in as the Vigilance Commissioner at the Central Vigilance Commission. A S Rajeev is a career banker with over 38 years of experience in four banks, namely, Syndicate Bank, Indian Bank, Vijaya Bank and Bank of Maharashtra. During his tenure as the Executive Director in Indian Bank, the Indian Bank emerged as one of the strongest and most profitable banks in India, with lowest non-performing assets and highest capital adequacy ratio. The Central Vigilance Commission Act, 2003, provides for the appointment of a Central Vigilance Commissioner and two Vigilance Commissioners.

 

INTERNATIONAL UPDATES:

 

1. Mauritius Day 2024: 12th March 2024: Every year, March 12 is observed as Mauritius Independence Day which celebrates the anniversary of the country gaining independence from British rule. Mauritius has been under  the control of the French, Dutch and Britishers but on 12 March 1968, after gaining independence from the Britishers, it finally became a free country. The date of 12 March was chosen to coincide with Mahatma Gandhi’s Salt March which occurred on 12 March 1930.

 

2. World Glaucoma Day:12th March 2024: Every year, World Glaucoma Day is observed on March 12. Glaucoma is a set of eye diseases that destroys the optic nerve – the nerve present in the back of the eyes. This can lead to blindness and vision loss. India now stands as the world’s second-largest producer of mobile phones: India now stands as the world’s second-largest producer of mobile phones at the end of the decade 2014-2024. India Cellular and Electronics Association said in a statement that the sector has transitioned from being 78 percent import-dependent in 2014 to 97 percent self-sufficiency. Only three percent of the total mobile phones sold in India are now imported. India’s mobile phone production is nearing 20 lakh crore rupees in a decade of unprecedented growth.

 

OTHER UPDATES:

DEFENCE

 

1. INS Tir participates in Exercise Cutlass Express in Seychelles: INS Tir, the lead ship of First Training Squadron (1TS), participated in Exercise Cutlass Express 24 (CE-24) held at Port Victoria, Seychelles. The exercise was inaugurated by Seychelles President Wavel Ramkalawan with dignitaries from India, the US and African countries present on the occasion. As part of Exercise Cutlass Express, the Indian Navy actively engaged with participants from 16 friendly foreign countries.

 

2. DRDO successfully conducts Mission Divyastra: Defence Research and Development Organisation (DRDO) has conducted first successful flight test of indigenously developed Agni-5 missile with Multiple Independently Targetable Re-Entry Vehicle (MIRV) technology. The flight test named Mission Divyastra was carried out from Dr APJ Abdul Kalam Island in Odisha. Various Telemetry and radar stations tracked and monitored multiple re-entry vehicles. The Mission accomplished the designed parameters. Missiles equipped with MIRV technology can aim multiple targets that can be located hundreds of kilometres apart. Agni-5, which can carry nuclear warheads and hit targets more than 5,000 km away, is aimed mainly at thwarting the challenge from China.

 

SPORTS

 

1. Yashasvi Jaiswal wins ICC Player of the Month for February: Yashasvi Jaiswal has trumped New Zealand's Kane Williamson and Sri Lanka's Pathum Nissanka to win the ICC Player of the Month award for February. Jaiswal made the month of February his own by scoring two double centuries in Test cricket in consecutive games against England. The 22-year-old racked up 712 runs for Team India and finished as the leading run-scorer of the series.

 

2. Devendra Jhajharia elected new President of PCI: A two-time Paralympic gold medalist, Devendra Jhajharia has been elected as the new President of the Paralympic Committee of India (PCI). He succeeds another renowned para-athlete, Deepa Malik. Devendra Jhajharia, a javelin thrower, won gold medals in the 2004 Athens and 2016 Rio Paralympics in the F46 disability category.

 

BANKING AND FINANCE

 

1. IndusInd Bank launches Indus PayWear: IndusInd Bank has introduced 'Indus PayWear,' which, in collaboration with Mastercard, boasts to be the country's first all-in-one tokenisable wearables for both debit and credit cards. The company stated in a filing on the exchanges that this offering aims to enable users to tokenise their IndusInd Bank cards onto a chip-enabled wearable device.

It is a fine example of how Mastercard leverages its expertise to allow consumers the power.

 

AWARDS AND HONOURS

 

1. Riken Yamamoto Wins 2024 Pritzker Architecture Prize: Japanese architect Riken Yamamoto has been named the winner of the 2024 Pritzker Architecture Prize. Yamamoto’s work emphasizes the importance of community and shared spaces. The Pritzker Architecture Prize is an annual award founded in 1979 by Jay A. Pritzker and his wife, Cindy.

 

2. 96th Osacar 2024 winners announced: The 96th Academy Awards happened at the Dolby Theater in Hollywood. It was a night full of exciting wins and unexpected moments. The Academy Awards, also known as the Oscars, celebrate both the artistic and technical achievements in movies. They’re given out every year by the Academy of Motion Picture Arts and Sciences (AMPAS) in the United States. The awards honor outstanding work in filmmaking as decided by the Academy’s voting members.

Daily GK Update- 11th Mar, 2024

 

NATIONAL UPDATES:

 

1. PM Modi lays foundation stone of “Experience of Spirituality at Chitrakoot Ghat” project in Chitrakoot: Prime Minister Narendra Modi performed Bhoomi Pujan and inaugurated projects worth 118 crore 72 lakh rupees in Madhya Pradesh through video conferencing. These include various projects in Gwalior and Chitrakoot under Swadesh Darshan 2.0 scheme and development work of Amarkantak and Pitambara Peeth Temple Datia under Prasad scheme. PM also laid the foundation stone of the “Experience of Spirituality at Chitrakoot Ghat” project in Chitrakoot.

 

2. Arjun Munda inaugurates agriculture integrated command and control center: Union Minister of Agriculture and Farmers’ Welfare Arjun Munda has inaugurated the Agriculture Integrated Command and Control Centre established at Krishi Bhawan in New Delhi. Aim – To empower the farmers of the country by equipping them with information, services and facilities. The objective of the new initiative is to provide farmers the information about the reality of the farm and also to find out what are the real challenges in the agriculture sector. With the availability of real-time data and its analysis, their problems can be resolved and capacity will be expanded.

 

3. PM Modi unveils 125-feet tall statue of Lachit Borphukan: Prime Minister Narendra Modi has unveiled a 125-foot bronze statue of ‘Ahom general’ Lachit Borphukan in Assam’s Jorhat. The ‘Statue of Valour’ was unveiled by the PM at the Lachit Barphukan Maidam Development Project at Hollongapar near Teok. The height of the statute, built by Ram Vanji Sutar, is 84 feet and it is set on a pedestal of 41 feet, making the structure 125 feet tall. The foundation of the statue was laid by former President Ram Nath Kovind in February 2022.

 

INTERNATIONAL UPDATES:

 

1. India signs free trade pact with 4 European countries: India signed a free trade agreement (FTA) with four European countries, Iceland, Liechtenstein, Norway, and Switzerland. Objective – with a goal of reaching $100 billion in investments in India and one million jobs. In the last two years, India has signed trade agreements with Australia and the United Arab Emirates, and a deal with the United Kingdom is in the final stages as PM Narendra Modi aims to hit $1 trillion in annual exports by 2030. The EFTA countries, which are separate from the European Union, for the first time, the FTA also included a chapter on commitments to human rights and sustainable development.

 

2. Asif Ali Zardari sworn in as Pakistan’s 14th President: Asif Ali Zardari took oath as the 14th President of Pakistan. Chief Justice of Pakistan Qazi Faez Isa administered the oath to the 68-year-old Mr Zardari in a small yet formal ceremony at Aiwan-e-Sadr, the Presidential Palace. Mr Zardari replaces Dr Arif Alvi, who stayed in office for five months after completing his five-year term in September 2023. This is the second time that Mr Zardari has won the presidency, a record for any civilian. Earlier he served as the 11th president of Pakistan from 2008 to 2013 and is one of the four democratically elected presidents to have completed their five-year constitutional term.

 

3. 10 March – International Day of Women Judges: The International Day of Women Judges is celebrated on 10 March every year. The day is dedicated to recognizing the contributions of women judges worldwide. It also serves as a reminder of the importance of women’s participation in all levels of decision-making for the achievement of equality and democracy. The United Nations General Assembly established the International Day of Women Judges on 10 March to promote gender equality and the empowerment of women in the judiciary.

 

OTHER UPDATES:

 

SPORTS

 

1. Hardeep S Puri Inaugurates 5th ONGC Para Games: Petroleum and Natural Gas Minister Hardeep Singh Puri has inaugurated the 5th Oil and Natural Gas Corporation Limited (ONGC) Para Games at New Delhi’s Thyagaraj Stadium. The ONGC Para Games is a testament to the spirit of the participating athletes. The 5th ONGC Para Games, featuring a total of 371 athletes will witness active participation across a range of sporting disciplines. Athletes from various oil and gas public enterprises will compete across disciplines such as athletics, badminton, table tennis, and wheelchair racing.

 

2. Umpire Marais Erasmus set to retire: Veteran South Africa umpire Marais Erasmus has announced his retirement from the ICC Elite Panel of Umpires. His illustrious career spanning over two decades will culminate with his final officiating duty during the second Test between New Zealand and Australia. The Christchurch Test will be Erasmus’ 82nd men’s Test match as umpire, putting him 10th on the list of umpires to officiate in most Test matches. Erasmus also officiated 124 men’s ODIs, 43 men’s T20 matches, and 18 women’s T20 matches. In 131 international games, he has also served as the TV umpire.

 

3. James Anderson becomes first pacer to pick 700 Test wickets: England great James Anderson has become first-ever fast bowler to pick up 700 Test wickets in 187 matches. The 41-year-old got to the major landmark when he dismissed Kuldeep Yadav on Day 3 of the fifth and final Test against hosts India at the HPCA Stadium in Dharamsala. The legendary fast bowler became only the third man after Sri Lanka’s Muttiah Muralitharan (800) in 133 mathes and leg-spinner Shane Warne (708) in 145 matches to achieve the feat.

 

 

 

SCIENCE AND TECHNOLOGY

 

1. India to construct a 10,000-GPU Supercomputer for self-sufficient AI advancement: The Indian government, led by PM Narendra Modi, has approved a new $1.24 billion investment for the IndiaAI mission, a “national-level” plan designed to create an all-Indian AI ecosystem from scratch. This initiative aims to create an all-Indian AI ecosystem from scratch, bolstering India’s technological prowess and fostering innovation in AI. The HPC system, expected to include 10,000 “or more” GPUs as AI accelerators, will be developed through a public-private partnership to support startups and research organizations.

 

AWARDS AND HONOURS

 

1. India receives ‘Measles and Rubella Champion’ award: India has been bestowed with the prestigious measles and rubella champion award for its exemplary efforts in combating these diseases. The award was received by the ambassador Sripriya Ranganathan on behalf of the Ministry of Health and Family Welfare at American Red Cross Headquarters in Washington. This accolade celebrates the country’s unwavering commitment to public health and its outstanding leadership in curbing the spread of these infectious diseases among children.

 

2. Krystyna Pyszkova wins the Miss World 2024: Krystyna Pyszkova from the Czech Republic was crowned as the new Miss World 2024. The previous Miss World 2022, Karolina Bielawska from Poland, crowned her successor in a magnificent ceremony. This is the 71st edition of the Miss World pageant for the year 2024 took place in Mumbai.

Runners-Up and Continental Winners-

 

3. Amitav Ghosh awarded Erasmus Prize for highlighting Climate Crisis: Indian writer Amitav Ghosh has been awarded the ‘Erasmus Prize’ 2024 for highlighting the climate change crisis. 67-year-old Ghosh has been honoured with the award by the Premium Erasmianum Foundation of the Netherlands. Amitav Ghosh will receive the award in person in the Netherlands in November.

Ghosh has received this award for his passionate contribution to highlighting the global crisis of climate change through writing and on the theme of ‘imagining the unimaginable’. In 2023, this award was received by South African comedian ‘Trevor Noah’.

Daily GK Update- 10th Mar, 2024

 

NATIONAL UPDATES:

 

1. Cabinet approves MSP for Raw Jute for 2024-25 Season: The Cabinet Committee on Economic Affairs has increased the Minimum Support Price (MSP) for raw jute for the 2024-25 season by ₹285 to ₹5,335 per quintal. The decision would ensure a return of 64.8% over the all-India weighted average cost of production. In the last 10 years, the government has increased MSP for raw jute from ₹2,400 per quintal in 2014-15 to ₹5,335 a quintal in 2024-25, registering a growth of 122%”. The decision is expected to help jute farmers in West Bengal, Bihar and Assam.

 

2. Cabinet approves Uttar Poorva Transformative Industrialization Scheme 2024: The Union Cabinet has approved the proposal of the Department for Promotion of Industry and Internal Trade (DPIIT) for Uttar Poorva Transformative Industrialization Scheme 2024 (UNNATI 2024). The scheme is for a period of 10 years from the date of its notification along with 8 years for committed liabilities with a financial outlay of ₹10,037 crore. The scheme is proposed to be divided into two parts. Part A caters to the incentives to the eligible units (₹9,737 crore), and Part B is for implementation and institutional arrangements for the scheme (₹300 crore). The proposed scheme envisages around 2,180 applications, and it is anticipated that direct employment opportunities of about 83,000 will be generated during the scheme period.

 

3. National Cooperative Database: Union Home Minister and Cooperation Minister Amit Shah inaugurated the National Cooperative Database and released the ‘National Cooperative Database 2023: A Report’ in New Delhi on March 8, 2024. The launch marks a significant milestone in the expansion and strengthening ..

 

4. Sudha Murty Nominated to Rajya Sabha: On March 8, 2024, Prime Minister Narendra Modi announced that Indian educator, author, and philanthropist Sudha Murty has been nominated to the Rajya Sabha by President Droupadi Murmu. The nomination, which coincides with International Women’s Day, underscores the importance of ..

 

INTERNATIONAL UPDATES:

 

1. Maldives-China Agreement for Acquiring Non-Lethal Equipment: The Maldives has recently signed a military assistance agreement with China, marking a significant development in the diplomatic and military relations between the two countries. Under this newly inked agreement, the Maldives will receive free “non-lethal” military equipment and training ..

 

 

OTHER UPDATES:

DEFENCE

 

1. CCS gives nod to 5th generation aircraft project worth ₹15,000 crore: The Cabinet Committee on Security (CCS) has approved the project for the design and development of India’s fifth-generation fighter jet, Advanced Medium Combat Aircraft (AMCA), to be undertaken by the Defence Research and Development Organization (DRDO). The AMCA is envisaged as a 25-tonne twin-engine stealth aircraft with an internal weapons bay and Diverterless Supersonic Intake which has been developed in India for the first time. It is intended to have an internal carriage of 1,500 kg of payload and 5,500 kg of external payload with 6,500 kg of internal fuel. The development of AMCA is planned to be carried out in two phases, an MK1 with the General Electric F414 engine and an Mk2 with a more powerful engine planned to be co-developed in partnership with Saran of France for which discussions are underway.

 

2. Indian Navy Commissions INS Jatayu: The Indian Navy has taken a significant step towards enhancing its operational capabilities and maritime domain awareness in the strategically important Lakshadweep islands with the commissioning of INS Jatayu at Minicoy Island on March 6, 2024. The new naval base, ..

 

SCIENCE AND TECHNOLOGY

 

1. DST, T-Hub launch AI-ML hub in Hyderabad: The Department of Science and Technology (DST), which works under the Union Ministry of Science and Technology, and start-up ecosystem enabler T-Hub have joined hands to to set up a Machine Learning and Artificial Intelligence Technology Hub (MATH) in Hyderabad. The hub will work to foster AI innovation, create job opportunities, and provide a conducive ecosystem for AI and ML start-ups. The Centre of Excellence aims to generate over 500 AI-related jobs by 2025 and nurture more than 150 start-ups annually.

 

BANKING AND FINANCE

 

1. Tech Fini Join hands with NPCI to provide credit line on UPI: National Payments Corporation of India (NPCI) has signed a multi-year MoU with the Indian Institute of Science (IISc), Bangalore, for conducting joint research on blockchain and artificial intelligence (AI) technology. The partnership will also propel further innovation through the establishment of the “NPCI-IISc Centre of Excellence (CoE) for Deep Tech Research and Development” The partnership will also focus on scalable blockchain platforms and multi-modal analytics over fintech data. Faculty members from five departments at IISc will work with NPCI researchers on practical challenges related to these areas.

 

2. Govt keeps interest rates on small savings schemes unchanged for Q1 FY25: The government has kept the interest rates unchanged on various small savings schemes for the first quarter of the next fiscal, beginning April 1, 2024. With this, the interest rates will remain unchanged till June 30, 2024. These schemes offer guaranteed returns at regular intervals compounded monthly, quarterly or annually as the case may be. These instruments cater to conservative investors and offer guaranteed but low returns and range between 6-8 per cent.

 

3. Moody’s ups growth forecast to 8% for FY24: Moody’s Ratings has raised India’s GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The latest estimate of Moody’s is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023. The National Statistical Office (NSO) has projected 8.4 per cent growth in December quarter of the current financial year.

It has also revised GDP estimates for the first and second quarters to 8.2 per cent and 8.1 per cent from 7.8 per cent and 7.6 per cent, respectively.