Daily GK Update- 1st Apr, 2024

 

NATIONAL UPDATES:

 

1. NTPC permanently closed Barauni Stage-I project: State-owned power giant NTPC has permanently closed its Barauni Thermal Power Station Stage-I of 220 MW. The company acquired Barauni Thermal Power Station (720 MW) in Begusarai district, Bihar, from Bihar State Power Generation Company on December 15, 2018. Established in 1975, NTPC aims to become a 130 GW firm by 2032. Operation of NTPC Barauni Thermal Power Station Stage-I (2×110 MW) comprising of two Units (Unit 6 & 7) of 110 MW each (along with all Auxiliary systems except CHP, Switchyard, Ash Dyke and Township) shall be permanently discontinued w.e.f. 31st March 2024.

 

2. IOCL, Panasonic Energy ink pact for lithium-ion cell JV: State-owned refiner Indian Oil Corporation and Panasonic Group company Panasonic Energy Co. have signed a binding term sheet to draw framework of their proposed joint venture (JV) to manufacture cylindrical lithium-ion cells in India. This initiative is driven by the anticipated expansion of demand for batteries for two- and three-wheel vehicles and energy storage systems in the Indian market. The two companies are engaged in a feasibility study on utilization of battery technology for facilitating the transition to clean energy in India.They aim to finalise details of their collaboration by the summer of this year.

 

3. HDFC Bank appoints Sumant Rampal as mortgage business head: HDFC Bank has appointed Sumant Rampal as Group Head of Mortgage Business, in the place of Arvind Kapil. Sumant Rampal has been with the bank for over 24 years. He has worked in various business domains, such as corporate banking, emerging corporate groups and business banking verticals.

Prior to the new role, he was the Group Head of Business Banking Working Capital, Rural Banking Group and Sustainability Livelihood Initiative.

 

4. Union AMC appoints Madhu Nair as CEO: Union Asset Management Company has appointed Madhu Nair as the Chief Executive Officer. He will replace G Pradeepkumar who tendered his resignation after 14 years of service. Nair comes with over 25 years of diverse experience across various market segments. He was instrumental in building up asset management companies such as HSBC, Invesco and Kotak, during his career span of two and a half decades.

 

5. 30 March – Rajasthan Diwas: ajasthan Diwas is celebrated every year on 30 March. This year Rajasthan celebrates its 75th anniversary. On this day in 1949, 19 princely states and 3 states were merged to form the state of Rajasthan after a process that took eight and a half years. On January 14, 1949, Sardar Vallabhbhai Patel announced the merger of the princely states of Jaipur, Bikaner, Jodhpur, and Jaisalmer in a public meeting in Udaipur. To implement this announcement, Patel inaugurated Greater Rajasthan in a ceremony in Jaipur on March 30, 1949.

6. 1 April – RBI Foundation Day: The Reserve Bank of India (RBI), the nation’s central banking institution, is entering its 90th year on April 1st, 2024. The RBI was established on April 1, 1934, following recommendations from the Royal Commission on Indian Currency and Finance to maintain the country’s monetary stability. Its operations commenced on April 1, 1935, with Sir Osborne Smith as the first Governor.

 

INTERNATIONAL UPDATES:

 

1. Schaeffler India re-appoints Harsha Kadam as MD & CEO: Schaeffler India Ltd has re-appointed Harsha Kadam as Managing Director and Chief Executive Officer of the company. According to stock exchange disclosure, Kadam’s new term will commence on October 1, 2024, and extend through September 30, 2027. Kadam has over three decades of expertise, spanning across domains including sales, manufacturing, product design and development, and business excellence. He joined Schaeffler India in 2018 as president of Industrial Business. He later took up the role of MD and CEO in 2019 for an initial five-year tenure.

 

2. Meena Charanda honored with ‘International Culture Award’: Principal of Kalindi College (Delhi University), Professor Meena Charanda has been given the ‘International Culture Award’ for the year 2024. Meena Charanda has been given this honor for her remarkable work in the field of education and social service. Charanda was given a memento, plaque, shield and citation from the university in the award.

 

3. 1 April – Utkal Diwas: On April 1, Odisha Day, also known as Utkala Divas, is celebrated to remember when Odisha became a state. People all over the state decorate their homes and public places with flags, banners, and flowers in the colours of the state flag. Utkal Divas is commemorated each year to commemorate the establishment of the state of Odisha on April 1, 1936. This significant day signifies the separation of Odisha from the combined Bihar and Orissa provinces during the British colonial era in India.

 

OTHER UPDATES:

 

SPORTS

 

1. Sharfuddoula becomes Bangladesh’s first ICC Elite Umpire: Bangladesh’s Sharfuddoula Ibne Shahid has become the first from his country to be inducted into the ICC Elite Panel of Umpires.

While India’s Nitin Menon entered the top tier for an unprecedented fifth time. The 40-year-old is only the third Indian to be part of the elite panel after S Ravi and former India spinner S Venkataraghavan, who performed on-field duties in 33 and 73 Tests respectively.

 

 

BANKING AND FINANCE

 

1. HDFC Bank proposes to sell 100% stake in its subsidiary HDFC Education: HDFC Bank has decided to sell its 100 per cent stake in HDFC Education and Development Services Private Ltd. The transaction will be undertaken through the Swiss challenge method. HDFC Bank would finalize the purchaser on the basis of the completion of the Swiss challenge process, subsequent to which such purchaser and HDFC Bank will enter into definitive documentation for the purposes of the proposed transaction.

 

2. Pankaj Dwivedi appointed as ED at Union Bank of India: Pankaj Dwivedi has been appointed as the Executive Director of Union Bank of India (UBI). Following his appointment, the bank now has four Executive Directors (EDs). Besides Dwivedi, the other EDs are – Nitesh Ranjan, Ramasubramanian S and Sanjay Rudra. A Manimekhalai is helming the bank as MD & CEO. Prior to joining UBI, Dwivedi was General Manager in Punjab & Sind Bank (P&SB). He has more than 31 years banking experience, having worked at P&SB branches, zonal office and various departments at head office.

 

3. Kamal Lath appoints as CFO of Good Glamm Group: Leading beauty and personal care company, the Good Glamm Group, has appointed of Kamal Lath as Group Chief Financial Officer.

As the newly-appointed Group CFO at Good Glamm Group, he will be at the forefront of our financial strategy and execution, playing a pivotal role in shaping the company’s next phase of growth. A Harvard Business School alumnus, he has held significant positions at various organizations including Case New Holland (CNH), L&T Mindtree, K12 Techno services (Orchids International Schools), and d.light, where he served as Global CFO.

 

AWARDS AND HONOURS

 

1. President confers Bharat Ratna to Lal Krishna Advani and four others: The President of India, Droupadi Murmu conferred India’s highest civilian award, Bharat Ratna, on the former Prime Minister Chaudhary Charan Singh, PV Narasimha Rao, former Deputy Prime Minister Lal Krishna Advani, former Chief Minister of Bihar Karpoori Thakur and famous agricultural scientist M.S. Swaminathan. Except for Lal Krishna Advani, the Bharat Ratna to Chaudhary Charan Singh, PV Narasimha Rao, Karpoori Thakur, and M.S. Swaminathan were awarded posthumously. This year, the government conferred Bharat Ratna on five people. This is the highest number in a year for Bharat Ratna and the maximum since 1999 when four people were conferred with Bharat Ratna.

 

 

Daily GK Update- 31st Mar, 2024

 

NATIONAL UPDATES:

 

1. HPCL and Tata Join Forces to Build Nationwide EV Charging Network: Tata Passenger Electric Mobility (TEPM) has signed an MoU with Hindustan Petroleum Corporation (HPCL) to set up 5,000 electric vehicle charging stations across India. The collaboration will leverage HPCLs widespread fuel station network and TPEMs insights from over 1.2 lakh Tata EVs on Indian roads, to set up chargers at locations frequently visited by Tata EV owners. The collaboration will leverage HPCL’s extensive network of over 21,500 fuel stations across the country.

 

2. Arnab Banerjee elected as Chairman of ATMA: MD & CEO of CEAT Ltd, Arnab Banerjee has been elected as the new Chairman of Automotive Tyre Manufacturers’ Association (ATMA). Arnab Banerjee joined CEAT in 2005 as the Vice President-Sales and Marketing.

 

3. Threats to the Great Indian Bustard and Conservation Efforts: The Great Indian Bustard (GIB) (Ardeotis nigriceps) is a critically endangered bird species native to the Indian subcontinent. With fewer than 150 individuals remaining in the wild, the GIB faces numerous threats that are driving it towards extinction. The GIB ..

 

INTERNATIONAL UPDATES:

 

1. 30 March – International Day of Zero Waste: International Day of Zero Waste is celebrated every year on March 30th. This day aims to raise awareness about reducing waste and promoting zero-waste initiatives to achieve sustainable development. On 14 December 2022, the United Nations General Assembly adopted a resolution at its seventy-seventh session to proclaim 30 March as International Day of Zero Waste, to be observed annually. Promoting zero-waste initiatives through this international day can help advance all the goals and targets in the 2030 Agenda for Sustainable Development, including Sustainable Development Goal 11 and Sustainable Development Goal 12.

 

2. Michelangelo’s David statue and Italy’s Cultural Heritage Code: Michelangelo’s David is a renowned marble sculpture created by the Italian Renaissance artist Michelangelo Buonarroti between 1501 and 1504. The statue depicts the Biblical figure David, a young shepherd who fought and defeated the giant Goliath. The sculpture is considered ..

 

3. Russia’s Veto on North Korea’s Sanctions Monitoring: The United Nations Security Council (UNSC) has been monitoring North Korea’s compliance with sanctions imposed due to its nuclear weapons and ballistic missile programs. A panel of experts was set up in 2009 to track and report on any violations ..

OTHER UPDATES:

DEFENCE

 

1. LCA Tejas MK-1A completes maiden flight in Bengaluru: The Hindustan Aeronautics Limited (HAL) has successfully completed the first flight of indigenous light combat aircraft (LCA) Tejas Mark 1A fighter jet in Bengaluru. The aircraft was airborne for 15 minutes during its first flight.  The fighter aircraft is likely to be deployed at Nal airbase in Rajasthan’s Bikaner near the Pakistan border where it can take care of the western adversary. LCA Mk-1A is an advanced variant of the LCA Mk-1, and it has advanced electronic radar, superior warfare capabilities, and improved maintenance features.

 

2. India-Mozambique-Tanzania Trilateral Exercise concludes at Mozambique: The second edition of India-Mozambique-Tanzania Trilateral Exercise (IMT TRILAT 24) concluded at Nacala, Mozambique. The week-long exercise underscores the importance of enhanced maritime cooperation and interoperability between the Navies of India, Mozambique, and Tanzania. INS Tir and Sujata participated in IMT TRILAT 24 through a series of joint exercises, training sessions and collaborative activities, providing invaluable opportunities for all three Navies to exchange knowledge, enhance capabilities and bolster maritime security in the region.

 

SPORTS

 

1. Hockey India Awards 2023: The Hockey India Awards 2023 were held in New Delhi on March 31, 2024 to celebrate the outstanding Indian hockey players from the previous calendar year. The event saw several players being recognized for their exceptional performances and contributions to ..

 

SCIENCE AND TECHNOLOGY

 

1. India’s first Artificial Intelligence based Film ‘IRAH’ trailer launched: The trailer and song launch of the first Hindi film on this subject, “IRAH,” took place in Mumbai. The movie features Rohit Bose Roy, Rajesh Sharma, Karishma Kotak, and Rakshith Bhandarry in prominent roles. The movie is Produced by Big Films Media and directed by Sam Bhattacharjee. The film is set to release nationwide in theaters on April 4th through Iamplex Digital Theatrical Distribution.

 

BANKING AND FINANCE

 

1. Bank of India to raise Rs 10,000 cr via infrastructure bonds: Bank of India (BoI)’s board has given approval to raise Rs 10,000 crore through long-term infra bonds to fund infrastructure projects. The fund would be raised in 2024-25, BoI said in a regulatory filing. Recently, many banks including SBI have issued infrastructure bonds to secure funds that are solely dedicated to advancing various infrastructure development projects. These bonds help in building roads, bridges, airports, power plants, and telecommunications networks etc and addressing the infrastructure deficit of the country.

 

2. IT Dept slaps ₹564.44 crore penalty on Bank of India: Income Tax department has levied a penalty of Rs 564.44 crore on Bank of India, the public sector lender. The bank has received the order under Section 270A of the Income Tax Act, 1961 from the Income Tax Department, Assessment Unit pertaining to AY2018-19, wherein the penalty of Rs 564.44 crore has been imposed on various disallowances made.

 

3. Digital India Trust Agency (DIGITA): The Reserve Bank of India (RBI) is considering establishing a Digital India Trust Agency (DIGITA) to combat the proliferation of illegal lending apps and curb growing cyber fraud. This proposed agency aims to verify digital lending apps, maintain a public

 

Daily GK Update- 30th Mar, 2024

 

NATIONAL UPDATES:

 

1. World’s First Om-Shaped Temple inaugurated in Rajasthan: The World’s first-ever Om-shaped temple has inaugurated in the village of Jadan in Pali district of Rajasthan. This temple became the world’s first temple designed in this iconic form. This architectural masterpiece will not only attract tourists, but will also boast of an impressive visual presence that will be visible from space too. The ‘Om Aakar’ temple spans across a vast expanse of 250 acres in Jadan Village.

 

2. Girija Subramanian appoints as CMD of New India Assurance Company: The Financial Services Institutions Bureau (FSIB) has selected Girija Subramanian as Chairman and Managing Director (CMD) of the New India Assurance Company and Bhupesh Sushil Rahul as CMD of United India Insurance Company. The post of CMD at United India has been vacant since February 2024 following the retirement of Satyajit Tripathy, and Neerja Kapur’s tenure at New India Assurance is set to end in April 2024. Girija Subramanian is currently the CMD of the Agriculture Insurance Company of India, and B S Rahul serves as the general manager at the same company.

 

3. 30 March – Rajasthan Diwas: Rajasthan Diwas is celebrated every year on 30 March. This year Rajasthan celebrates its 75th anniversary. On this day in 1949, 19 princely states and 3 states were merged to form the state of Rajasthan after a process that took eight and a half years. On January 14, 1949, Sardar Vallabhbhai Patel announced the merger of the princely states of Jaipur, Bikaner, Jodhpur, and Jaisalmer in a public meeting in Udaipur. To implement this announcement, Patel inaugurated Greater Rajasthan in a ceremony in Jaipur on March 30, 1949.

 

4. Kerala Government Challenges Governor’s Role in Lawmaking Process: The Kerala government has recently approached the Supreme Court, raising concerns about President Droupadi Murmu withholding assent to four Bills passed by the state without disclosing any reason, and Governor Arif Mohammed Khan withholding assent to seven Bills for extended ..

 

5. Plastic Waste Management (Amendment) Rules, 2024: The Environment Ministry of India has recently introduced new rules that make it more difficult for manufacturers of disposable plastic products to label them as ‘biodegradable.’ The updated Plastic Waste Management (Amendment) Rules, 2024, now require that biodegradable plastics not ..

 

INTERNATIONAL UPDATES:

 

1. World’s largest copper manufacturing plant owned by Adani Group: Billionaire Gautam Adani-led group has started of the first phase of the world’s largest single-location copper manufacturing plant at Mundra in Gujarat, which will help cut India’s dependence on imports and aid energy transition. The 1st phase of the facility will produce 0.5 million tonnes a year of refined copper. India joins China and other nations that are rapidly expanding production of copper. India’s per capita copper consumption is around 0.6 kg and the global average is 3.2 kg.

 

2. India, Mozambique, and Tanzania Conclude Trilateral Naval Exercise IMT TRILAT 24: The second edition of the India-Mozambique-Tanzania Trilateral Exercise (IMT TRILAT 24) concluded at Nacala, Mozambique, on March 28, 2024. The week-long exercise, which took place from March 21 to 28, aimed to enhance maritime cooperation and interoperability between the navies

 

3. Multiple Myeloma Awareness Month: Multiple Myeloma Awareness Month is observed annually in March to raise awareness about a rare type of blood cancer that develops in the bones and other parts of the body. What is Multiple Myeloma? Multiple myeloma is a form of ..

 

OTHER UPDATES:

DEFENCE

 

1. IIM Mumbai and Starburst collaborate to boost aerospace, defence startups: The Indian Institute of Management (IIM) Mumbai has partnered with Europe’s Starburst, in a bid to boost the aerospace, new space, and defence (ASD) industry in India. The partnership aims to strengthen India’s position as a hub for ASD innovation on the global stage, as well as offer a conducive environment for innovation and entrepreneurship. This strategic collaboration between IIM Mumbai and Starburst signifies a crucial step towards nurturing and empowering the burgeoning ASD startup ecosystem in India.

 

2. LCA Tejas MK-1A completes maiden flight in Bengaluru: The Hindustan Aeronautics Limited (HAL) has successfully completed the first flight of indigenous light combat aircraft (LCA) Tejas Mark 1A fighter jet in Bengaluru. The aircraft was airborne for 15 minutes during its first flight. The fighter aircraft is likely to be deployed at Nal airbase in Rajasthan’s Bikaner near the Pakistan border where it can take care of the western adversary. LCA Mk-1A is an advanced variant of the LCA Mk-1, and it has advanced electronic radar, superior warfare capabilities, and improved maintenance features.

 

SPORTS

 

1. IIT Madras to host the 6th Shaastra Rapid FIDE Rated Chess Tournament: An International Chess Federation (FIDE)-rated Rapid Chess Tournament will be hosted by IIT Madras. More than 35 players from the institute will take part in the event. The ‘6th Shaastra Rapid FIDE Rated Chess Tournament’ will witness the participation of six Grandmasters, sixteen International Masters, three Women Grandmasters and a Women International Master. The total prize fund of the tournament is ₹5,00,000 with the first prize being ₹65,000. The tournament not only offers substantial prize funds but also attracts a diverse range of player.

BANKING AND FINANCE

 

1. Axis Bank launches Digital US Dollar Fixed Deposits for NRIs at GIFT City: Axis Bank has launched the digital US dollar Fixed Deposits (FD) tailored for Non-Resident Indian (NRI) customers at the IFSC Banking Unit (IBU) situated in GIFT City, Gujarat. The US Dollar fixed deposit scheme offers a diverse array of investment tenures ranging from seven days to an extensive ten years. Additionally, customers retain the flexibility to request partial or full premature closure of their FD through the Axis Bank mobile application, enhancing their control and convenience over their investments.

 

AWARDS AND HONOURS

 

1. Vijay Jain bagged prestigious Times Power Icon 2024 Award: Managing Director of Star Estate, Vijay Jain has been awarded the prestigious Times Power Icon 2024 Award. The award ceremony, held recently in Noida, was organized by The Times Group.

Daily GK Update- 29th Mar, 2024

 

NATIONAL UPDATES:

 

1. Neeraj Chopra becomes Eveready’s new brand ambassador: Neeraj Chopra joined Bollywood actors Akshay Kumar and Amitabh Bachchan as he was named the newest brand ambassador of Eveready Batteries. The brand aims to enhance its connection with the youth by offering long-lasting value-for-money solutions. Neeraj Chopra is the first Asian athlete to win an Olympic gold medal in javelin and the first Asian to win gold at the World Championship.

 

2. Sadanand Date appointed as chief of NIA: Maharashtra Anti-Terrorism Squad chief Sadanand Vasant Date has been appointed as the Director General of the National Investigation Agency (NIA). He will succeed Dinkar Gupta, who is due to superannuate on March 31. The Appointments Committee of the Cabinet (ACC) has approved the appointment of Date as the Director General (DG) of the NIA for a tenure up to his superannuation on December 31, 2026.

 

3. Sita Ram Meena appointed as India’s next ambassador to Niger: Sita Ram Meena has been appointed as the next Ambassador of India to Niger. Meena currently serves as Director in the Ministry. The bilateral activities between the two nations gained momentum after India’s Mission in Niamey was opened in May 2009. Niger opened its Embassy in New Delhi in 2011.

 

INTERNATIONAL UPDATES:

 

1. Indian-British writer's book in inaugural Women's Prize for Non-fiction sho: Indian-British journalist and commentator Madhumita Murgia's book which explores the impact of AI on human society has been shortlisted for the 2024 inaugural Women's Prize for Non-fiction. The six books cover a broad range of subjects - from life writing, religion, art and history, to AI, social media and online politics.

 

2. India at G20 2nd Employment Working Group Meeting at Brasilia: The two-day 2nd Employment Working Group (EWG) meeting under the Brazilian Presidency commenced in Brasilia, Brazil. The G20 EWG’s mandate is to address labour, employment and social issues for strong, sustainable, balanced and job-rich growth for all. As India is a member of the G20 Troika, represented by Ms. Sumita Dawra, Secretary, Labour & Employment, India is co-chairing the 2nd EWG meeting, along with Brazil and South Africa.

 

3. Saudi Arabia to participate in Miss Universe event in historic first: Saudi Arabia officially joined the Miss Universe pageant with Rumy Alqahtani as the Islamic country’s first-ever representative.

This is another step for Saudi Arabia, which has been shedding its conservative cloak under Crown Prince Mohammed bin Salman Al Saud. Rumy Alqahtani, a 27-year-old model, would be the first participant from the country in the international beauty pageant.

4. 28 March – World Piano Day: World Piano Day is celebrated annually on the 28th March. This day serves as a global platform to recognize the beauty, cultural significance, and enduring appeal of the piano, fostering appreciation for its rich legacy across generations and cultures. World Piano Day, the annual event, is observed on the 88th day of the year. This day was chosen in correspondence to the number of keys available on a piano. And according to this, it falls on March 28 in the year 2024.

 

OTHER UPDATES:

 

SPORTS

 

1. Sunrisers Hyderabad record for highest IPL total of all time: Sunrisers Hyderabad scored 277/3 in 20 overs in Hyderabad against Mumbai Indians to break the record of RCB’s total of 263/5 in 2013 against the now-defunct Pune Warriors India. Highest totals in IPL history:

 

2. Sri Lanka to host Women’s Asia Cup 2024: The Asian Cricket Council (ACC) has announced the upcoming Women’s Asia Cup 2024, scheduled to take place in Dambulla, Sri Lanka, from July 19th to July 28th 2024. The Asian Cricket Council (ACC) announced the upcoming Women’s Asia Cup 2024, scheduled to take place in Dambulla, Sri Lanka, from July 19th to July 28th, 2024. The tournament will feature eight teams, one more than the previous edition in 2022. India, Pakistan, Sri Lanka, and Bangladesh will be joined by the semifinalists of the Women’s Premier Cup 2024 – UAE, Malaysia, Nepal, and Thailand.

 

BANKING AND FINANCE

 

1. Nidhu Saxena appointed MD & CEO of Bank of Maharashtra: The Ministry of Finance appointed Nidhu Saxena as Managing Director and Chief Executive Officer of Bank of Maharashtra. He replaced AS Rajeev upon his selection as Vigilance Commissioner in CVC. Saxena is currently Executive Director of Union Bank of India.

 

2. NHPC inks pct with JBIC for 20 billion: The State-owned hydropower giant NHPC has inked a loan agreement of JPY 20 billion (around Rs 1,100 crore) with Japan Bank for International Cooperation (JBIC) for developing a 300 MW solar project in Bikaner, Rajasthan. This is the first kind of loan syndication by NHPC with JBIC for the financing of renewable energy project. JBIC’s loan is co-financed with MUFG Bank Ltd., Japan and Bank of Yokohama Ltd, Japan.

 

3. Kotak Mahindra Bank acquires Sonata Finance: Kotak Mahindra Bank has acquired 100 per cent stake in Sonata Finance Private Limited – a microfinance institution — for Rs 537 crore. With this acquisition, Sonata has become a wholly-owned subsidiary of the private sector bank. Sonata operates in 10 states through 549 branches and has assets under management worth Rs 2,620 crore as on December 31, 2023.

AWARDS AND HONOURS

 

1. Madhumita’s book shortlisted for Women’s Prize for Non-fiction
: Indian-British journalist and commentator Madhumita Murgia’s book which explores the impact of AI on human society has been shortlisted for the 2024 inaugural Women’s Prize for Non-Fiction. The six books in the shortlist are Murgia’s “Code Dependent: Living in the Shadow of AI”, “Thunderclap: A Memoir of Art and Life and Sudden Death” by Laura Cumming, “Doppelganger: A Trip Into the Mirror World” by Naomi Klein, “A Flat Place” by Noreen Masud, “All That She Carried: The Journey of Ashley’s Sack, a Black Family Keepsake” by Tiya Miles, and “How to Say Babylon: A Jamaican Memoir” by Safiya Sinclair. The six books cover a broad range of subjects – from life writing, religion, art and history, to AI, social media and online politics.

 

Daily GK Update- 28th Mar, 2024

 

NATIONAL UPDATES:

 

1. Hansha Mishra appointed as Director in UPSC: Hansha Mishra (IA&AS) has been selected for the appointment as Director in the Union Public Service Commission (UPSC). He has been selected for the appointment under the Central Staffing Scheme for a period of five years from the date of taking over charge of the post or until further orders, whichever event takes place earlier. Mishra is an Indian Audit and Accounts Service (IA&AS) officer of 2010 batch.

 

2. Ritu Raj Awasthi sworn in as Judicial Member, Lokpal: Justice Ritu Raj Awasthi was sworn-in as the judicial member, Lokpal. The oath was administered by Justice A. M. Khanwilkar, Chairperson, Lokpal of India. Additionally, Pankaj Kumar and Ajay Tirkey took oath as member, Lokpal. The new appointments took place as two existing Judicial Members namely Justice P. K. Mohanty and Justice Abhilasha Kumari and three Members namely D. K. Jain, Archana Ramasundaram and Mahender Singh completed their tenure in Lokpal on March 26, 2024.

 

INTERNATIONAL UPDATES:

 

1. Bassirou Diomaye Faye wins Senegalese presidential election: Bassirou Diomaye Faye (44-years) has won the Senegalese presidential election with 54.28% of the votes in the first round.

He is the first opponent to win in the first round since Senegal’s independence from France in 1960. His victory still needs to be validated by Senegal’s Constitutional Council in the next few days.

 

2. Luis Montenegro named Portugal’s Prime Minister: Portugal’s president has named Luis Montenegro, head of the centre-right Democratic Alliance (AD), as the country’s new prime minister and invited him to form a minority government after eight years of Socialist rule. The long-awaited results of the March 10 elections were published late on Wednesday after votes from abroad were counted, and saw AD win 80 seats in the 230-member parliament, while the Socialist Party and the far-right Chega party clinched 78 and 50 seats, respectively. Montenegro, a 51-year-old lawyer and longtime parliamentarian, will succeed the Socialist Party’s Antonio Costa, who held office since 2015 and was forced to resign in November following corruption allegations.

 

3. Abhay Thakur Appointed as Next Envoy to Myanmar: Senior diplomat Abhay Thakur has been appointed as the country’s next envoy to Myanmar. Abhay Thakur is a 1992-batch officer of the Indian Foreign Service (IFS). He is currently working as an Officer on Special Duty in the Ministry of External Affairs. He had served as the sous-sherpa (deputy representative) for the G20 process during India’s presidency of the influential group of 20 major economies.

 

OTHER UPDATES:

DEFENCE

 

1. Samudra Paheredar Arrives in Manila Bay, as Part of ASEAN Deployment: Indian Coast Guard (ICG) ship ‘Samudra Peheredar’( special pollution control ship) is on a three-day visit to Manila Bay, Philippines. The ICG ship is on overseas deployment to ASEAN countries – Philippines, Vietnam and Brunei from 25 March to 12 April 2024. The objectives of this initiative are to demonstrate ICG marine pollution response capabilities and strengthening bilateral cooperation with the Philippines Coast Guard (PCG).

 

2. SARL partners with IIT Madras to establish €100 million startup hub: French aerospace and defence firm, Starburst Accelerator SARL has partnered with the Indian Institute of Technology Madras (IIT Madras) to set up an innovative hub for start-ups with €100 million in funding support. Through this collaboration, IIT Madras will enable Starburst to set up accelerator programs to boost the Aviation, Space, and Defence (ASD) ecosystem in India. A key focus of this partnership will be entrepreneurs, research parks, investors (public and private), government, and corporate firms.

 

SPORTS

 

1. Haryana crowned Champions of the 14th Hockey India Senior Women National Ch: Hockey Haryana beat hosts Hockey Maharashtra in the final to win the 14th Hockey India Senior Women National Championship. The match was played at the Major Dhyanchand Hockey Stadium in Pimpri, Pune, Maharashtra. In the final, the two teams were tied at 1-1 at the end of the full-time. In the ensuing penalty shootout, Hockey Haryana defeated Maharashtra 3-0 to win the 14th Hockey India Senior Women National Championship for the third time.

 

SCIENCE AND TECHNOLOGY

 

1. CAG Signs MoU with IIT Delhi on Artificial Intelligence: The Comptroller and Auditor General (CAG) of India signed a Memorandum of Understanding (MoU) with Indian Institute of Technology (IIT) Delhi on Artificial Intelligence. It aims to encourage innovation, skilling of the workforce, and promotion of responsible AI adoption. As part of the MoU, the CAG will have access to cutting-edge AI expertise, capacity building for our workforce, and development of bespoke AI solutions tailored to specific audit needs.

 

BANKING AND FINANCE

 

1. Innoviti Payments, Concerto Software get RBI payment aggregator licences: Offline point-of-sales deploying company Innoviti Payments and payment gateway Vegaah, which is run by Concerto Software and Systems, have secured the online payment aggregator (PA) licence from the Reserve Bank of India, joining the likes of MSwipe, Razorpay, Cashfree, and Zomato. CCAvenue, which is run by listed fintech company Infibeam Avenues, also received its PA licence from the RBI earlier this month. As PAs, these companies are authorized to settle ecommerce transactions. The licence also brings these payment companies directly within the purview of RBI regulations.

 

2. S&P Global raises India’s FY25 GDP growth forecast to 6.8%: S&P Global has raised India’s gross domestic product (GDP) growth forecast for Financial Year 2024-25 (FY25) by 40 basis points to 6.8 per cent or lower than the central bank and government’s projection of 7 per cent. The Indian economy is estimated to have clocked a growth of 7.6% in the current fiscal. In November, last year, the U.S.-based agency had projected India’s growth to be 6.4% in 2024-25 fiscal on robust domestic momentum.

 

3. Ujjivan SFB partners with Veefin Solutions for MSME growth: Ujjivan Small Finance Bank has partnered with Veefin Solutions Ltd to enhance supply chain finance offerings for MSMEs, addressing the sector’s working capital needs. it aims to provide end-to-end solutions, bridging the credit gap in the MSME sector and fostering inclusive growth. The collaboration underscores the commitment of both entities to leverage technology and innovative solutions to address the long-standing challenges faced by MSMEs in accessing timely and affordable credit.

 

AWARDS AND HONOURS

 

1. Michel Talagrand awarded Abel Prize 2024: The Norwegian Academy of Science and Letters has decided to award the Abel Prize for 2024 to Michel Talagrand of the French National Center for Scientific Research (CNRS) Paris, France. Talagrand received the prestigious prize “for his groundbreaking contributions to probability theory and functional analysis, with outstanding applications in mathematical physics and statistics.” The common theme in Michel Talagrand’s groundbreaking discoveries is working with and understanding the random processes we see all around us.