Daily Current Affairs March 10 & 11 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Centre Maintains Unchanged Interest Rates for Small Savings Schemes in April-June 2024 Quarter                          

• The Finance Ministry has announced that the interest rates for small savings schemes for the upcoming quarter of April-June 2024 will remain the same as the rates applicable in the previous quarter (January-March 2024).

Interest rates for various small savings schemes :

Key Highlights :

• The rates of interest on various Small Savings Schemes for the first quarter of FY 2024-25 starting from 1’t April, 2024 and ending on 30th June, 2024 shall remain unchanged from those notified for the fourth quarter (1st January, 2024 to 31st March, 2024) of FY 2023-24
• This means that for the April-June 2024 quarter the Public Provident Fund (PPF) will continue to earn 7.1% interest rate.
• Small Savings Schemes are a set of savings instruments managed by the central government with an aim to encourage citizens to save regularly irrespective of their age.
• They are popular as they provide returns higher than bank fixed deposits, sovereign guarantee and tax benefits.
• Since 2016, the Finance Ministry has been reviewing the interest rates on small savings schemes on a quarterly basis.
• Diversity of Schemes: There are a total of 12 small saving instruments, categorized into Postal Deposits, Savings Certificates, and Social Security Schemes.
• Postal Deposits: Includes savings accounts, recurring deposits, time deposits with varying maturities, and the monthly income scheme.
• Savings Certificates: Encompasses National Small Savings Certificate (NSC) and Kisan Vikas Patra (KVP).
• Social Security Schemes: Consists of the Sukanya Samriddhi Scheme, Public Provident Fund (PPF), and Senior Citizens‘ Savings Scheme (SCSS).

About Ministry of Finance :

• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Bhagwat Karad, Pankaj Choudhar

NPCI Partners with Nepal’s Fonepay for Cross-Border Merchant Payments                

• NPCI International Payments (NIPL), the international arm of the National Payments Corporation of India (NPCI) has agreed with Nepal-based payment network Fonepay Payment Service, for cross-border Unified Payments Interface (UPI) transactions between India and
• Aim : To facilitate QR-code-based person-to-merchant (P2M) UPI transactions between individuals and merchants across the borders of India and Nepal.

Key Highlights :

• Instant and Secure Payments: Initially, Indian consumers will have the capability to execute instant, secure, and convenient UPI payments at various business establishments in Nepal, utilizing the Fonepay Network.
• Fonepay’s Operations: Fonepay, a Payment System Operator (PSO) and a subsidiary of the F1Soft Group, operates an interoperable network and mobile platforms that facilitate inter-bank person-to-person (P2P) and person-to-merchant (P2M) transactions.
• Regulatory Compliance: Regulated by the Nepal Rastra Bank (NRB), FonePay holds the distinction of being Nepal’s premier mobile payment network licensed as a PSO, ensuring compliance with regulatory standards.
• NPCI International Expansion: This collaboration with Fonepay follows NPCI International’s recent Memorandum of Understanding (MoU) signing with Eurobank S.A. of Greece, aiming to enhance cross-border payments between Greece and India through UPI rails.

About NPCI :

• Founded : 2008
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Dilip Asbe
• The NPCI is an umbrella organisation for operating retail payments and settlement systems in India.
• It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment & Settlement Infrastructure in India.

Star Health’s total number of claims settled exceeds 1 crore mark

• Star Health, headquartered in Chennai, Tamil Nadu has achieved a significant milestone in the insurance industry by becoming the first standalone health insurance company to settle over 1 crore claims since its establishment in 2006.

Key Highlights :

• Claim Disbursement: Over the years, Star Health has disbursed claim payments totalling more than ₹44,000 crore, encompassing both cashless and reimbursement claims across the nation.
• Hospital Network: With a robust network comprising over 14,200 empanelled hospitals, Star Health has efficiently settled more than 70% of customer claims, ensuring widespread coverage and accessibility.
• Regional Distribution: Maharashtra emerges as the state with the highest claim count, followed by Tamil Nadu, Kerala, Karnataka, and Delhi, indicating the broad geographical spread of the company’s services and the prevalence of health insurance awareness.
• Market Dominance: The Star Health and Allied Insurance Company Ltd commands a significant market share of 33% in the retail health insurance sector, surpassing competitors by more than threefold, reaffirming its position as a leader in the industry.
• MD and CEO of Star Health Insurance : Anand Roy

Cabinet Greenlights Extra Instalment of Dearness Allowance and Dearness Relief for Central Government Employees and Pensioners

• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved to release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensionerse.f.Jan 2024 representing an increase of 4% over the existing rate of 46% of the Basic Pay/Pension, to compensate against price rise.
• Following this hike, the dearness allowance (DA) and dearness relief (DR) will go up from 46% to 50%.

Key Highlights :

• The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be 12,868.72 crore per annum.
• This will benefit about 49.18 lakh Central Government employees and 67.95 lakh pensioners.
• This financial year, the Centre will spend ₹15,014 crore towards the payment of additional DA.
• Transport allowance, canteen allowance, and deputation allowance will also be increased by 25%.
• House rent allowance has been raised from 27%, 19%, and 9% of the basic pay to 30%, 20%, and 10%,
• Benefits under gratuity will also be increased by 25%, with an increased ceiling of ₹25 lakh from the existing ₹20 lakh.
• For this, the Centre may have to fund ₹9,400 crore annually.
• This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.

What is meant by Dearness Allowance?

• Dearness Allowance (DA) is an allowance given to employees by the government or private sector employers to compensate for the rising cost of living due to inflation.
• The allowance is calculated as a percentage of the employee’s basic salary and is usually adjusted twice a year, depending on the inflation rate.

Types of Dearness Allowance

1. Fixed Dearness Allowance
2. Variable Dearness Allowance

CURRENT AFFAIRS: NATIONAL NEWS

Ashwini Vaishnaw Launches India’s Fastest And Indigenously Designed Router In Bengaluru

• Union Minister for Communication, Electronics, IT and Railways Ashwini Vaishnaw launched India’s fastest and indigenously developed Multiprotocol Label Switching router in Bengaluru.
• This will bolster India’s digital infrastructure and support the demand for high-speed data processing and transmission.
• An indigenous router of 2.4 Terabits Per Second speed, has been developed in India.
• The development of the indigenous and secured router is an important step in the Digital India initiative.
• The minister pointed out that India is now laying the foundation for hi-tech manufacturing with lots of innovation, hardware, and software with large design capabilities.
• Nivetti Systems of Bengaluru developed the high-speed router in collaboration with the Department of Telecom and CDOT.

PM virtually inaugurates and lays the foundation of projects worth Rs 8,500 cr in Tripura

• Prime Minister Narendra Modi inaugurated and laid the foundation stone of about 12 projects worth 8,534 crore rupees for Tripura virtually during his visit to Itanagar in Arunachal Pradesh.
• The important projects, include the construction of the Agartala Western Bypass.
• PM Modi also launched projects, including tap connections for 1.46 lakh rural households and laid stones for the Agartala Western Bypass and multiple road projects.
• The Prime Minister also inaugurated the Land Port at the Integrated Check Post at Sabroom in South Tripura constructed at a cost of about Rs 230 crore.
• The newly developed Sabroom ICP Land Port is located along the international border between India and Bangladesh and facilitates cargo and passenger movement up to Chittagong port in Bangladesh.
• The foundation stone of the Sabroom Land Port was laid by the Prime Minister in March 2021.
• ICP Sabroom will enhance the connectivity, trade, and tourism between the North East Region and Bangladesh.
• Under the visionary leadership of PM Modi, these projects will script a new chapter of development in the state.

PM inaugurates, dedicates to the nation, and lays the foundation stone for multiple development projects worth more than Rs 17,500 crores in Jorhat, Assam

• The Prime Minister, Shri Narendra Modi inaugurated, dedicated to the nation and laid the foundation stone for multiple development projects worth more than Rs 17,500 crores in Jorhat, Assam.
• The development projects encompass the sectors of health, oil and gas, rail, and housing.

Background

• The Prime Minister laid the foundation stone for projects under the Prime Minister’s Development Initiative for North Eastern Region (PM-DevINE) scheme including the Medical College & Hospital at Sivasagar and a Hemato-Lymphoid center in Guwahati.
• He also laid the foundation stone for important projects in the oil and gas sector including the capacity expansion of Digboi Refinery from 0.65 to 1 MMTPA (million metric tonnes per annum); Guwahati Refinery Expansion (1.0 to 1.2 MMTPA) along with installation of Catalytic Reforming Unit (CRU); and augmentation of Facilities at Betkutchi (Guwahati) Terminal: Indian Oil Corporation Limited, among others.
• The Prime Minister dedicated to nation important projects like the new medical Medical College and Hospital at Tinsukia; and 718 Km long Barauni – Guwahati Pipeline (part of Pradhan Mantri Urja Ganga Project) built at a cost of about Rs 3,992 crore, among others.
• The Prime Minister also inaugurated about 5.5 lakh homes under Pradhan Mantri Awas Yojana – Gramin (PMAY-G), constructed at a total cost of about Rs.8,450 crore;
• The Prime Minister dedicated to the nation’s important railway projects worth more than Rs 1300 crore in Assam including the Dhupdhara-Chhaygaon section (part of New Bongaigaon – Guwahati Via Goalpara Doubling Project) and New Bongaigaon – Sorbhog Section (part of New Bongaigaon – Agthori Doubling Project).

Government sanctions over Rs 1,532 crore for upgradation of National Highway projects in Gujarat

• Union Minister for Road Transport & Highways, Shri Nitin Gadkari approved has been given for widening of the 12.4 km long Dhrol to Amaran section of National Highway-151-A in Morbi district of Gujarat to 4-lane for Rs 625.58 crore.
• The approval has been given for the widening of the 12.4-kilometer Dhrol to the Amaran section of the National Highway in the Morbi district of Gujarat.
• The approval has also been given for the construction of additional structures including pipelines in 15-kilometer-long stretches of the Vadodara-Surat section on the National Highway in the Bharuch and Surat districts of Gujarat.
• The government has sanctioned over 936 crore rupees for the construction of ten kilometers long four-lane elevated corridor on the Kalimandir-Dimna Chowk-Baliguma section of the National Highway in Jamshedpur, Jharkhand.
• The project will enhance safety and reduce congestion in the city of Jamshedpur.

CURRENT AFFAIRS: BUSINESS NEWS

Coal PSUs achieve over 106% of the capital expenditure target for 2023-24

• Coal PSUs under the administrative control of MoC have been at the forefront of doing CAPEX to assist and contribute to transforming the Indian economy.
• Over the past few years Coal CPSE has been overachieving the CAPEX Target.
• In FY 21-22, Coal PSUs had achieved 104.86% of their target.
• Similar performance was repeated in FY 2022-23 where coal PSUs achieved around 109.24% of its target.
• There has been consistent YoY growth in CAPEX by Coal PSUs over the last 3 years.
• The Ministry of Coal’s CAPEX target for 2023-24 is 21,030 Crore. By Feb 2024, coal PSUs have already surpassed the FY 2023-24 target by making a record capex of Rs. 22448.24 Cr i.e. 106.74% of the annual target.
• With major CAPEX investments materializing in the last two months of the fiscal year, it is anticipated that both CIL and NLCIL will add to their achievement, further bolstering India’s economic growth trajectory.

About CAPEX

• CAPEX is one of the crucial components of the economic dynamics, which has a multiplier and trickle-down impact on the overall economy boosting consumption, and demand and spurring industrial growth, creating employment and long-lasting infrastructure from which durable benefits accrue to the country over a long period.

SJVN Green Energy to develop solar projects of over 1.3GW in Maharashtra

• SJVN Limited, a Mini Ratna, Category-I and Schedule ‘A’ Central public sector enterprise under the administrative control of the Ministry of Power, Government of India, has received Letters of Award for the development of Solar Power Projects of capacity 1,352 MW in Maharashtra.
• The projects will be developed through SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, in four districts of the state, namely, Nashik, Solapur, Ahmednagar, and Pune.
• Chairperson & Managing Director, SJVN, Smt. Geeta Kapur has informed that these solar projects will be developed under Mukhya Mantri Saur Krushi Vahini Yojana 2.0, of the Government of Maharashtra.
• Total investment for the development of solar power projects of 1,352 MW capacity will be about Rs. 7,436 crores.
• This will be the first contribution of SGEL towards the PM-KUSUM Scheme.
• These projects will be eligible for Central Financial Assistance, up to a maximum of 30% of the project cost.
• The projects have been bagged by SGEL through a competitive bidding process in a tender floated by MSEB Solar Agro Power Limited, Maharashtra.
• The total capacity of the tender was 7000 MW and SGEL participated in 1,500 MW – 500 MW in Round One and 1,000 MW in Round Two.
• The aforesaid scheme has been launched for the implementation of the largest Feeder-Level Solarisation Scheme in India under component C of the PM-KUSUM Scheme.

About Mukhya Mantri Saur Krushi Vahini Yojana

• The “Mukhyamantri Saur Krushi Vahini Yojana” was introduced in June 2017, wherein decentralized solar projects of capacity 2 MW to 10 MW will be installed within a 5 km radius of agriculture-dominated sub-stations.
• The scheme was later reframed as Mukhymantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0), with the target of 30% feeder solarization by 2025 through the implementation of 7,000 MW decentralized solar projects in fast-track mode, thus giving day-time electricity supply to farmers.

CURRENT AFFAIRS: AWARDS AND HONOURS

India Bags ‘Measles And Rubella Champion’ Global Award For Extraordinary Efforts To Combat measles and Rubella

• 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 Ambassador Sripriya Ranganathan on behalf of the Ministry of Health and Family Welfare at the American Red Cross Headquarters in Washington.
• The Health Ministry in a statement said, 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.
• India has demonstrated remarkable progress in reducing measles and rubella cases and preventing outbreaks through a series of comprehensive interventions.
• The measles and rubella partnership comprises a multi-agency planning committee, including the American Red Cross, Bill and Melinda Gates Foundation (BMGF), Global Alliance for Vaccines and Immunization (GAVI), UNICEF and World Health Organisation.
• All of these organizations are dedicated to reducing global measles deaths and preventing rubella illness.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Asif Ali Zardari of Pakistan Peoples’ Party Elected as 14th President of Pakistan; 1st Civilian To Secure 2nd Term

• Asif Ali Zardari, the Co-chairperson of the Pakistan People’s Party (PPP), has secured his second term as Pakistan’s 14th President, marking a significant milestone in the nation’s history, particularly in a context marked by past military interventions.
• Zardari’s re-election makes him the first civilian president in Pakistan’s history to be elected for a second term, underscoring the evolution of democratic processes in the country.
• The President-elect is scheduled to take the oath of office at the President House, with Chief Justice of Pakistan Justice Qazi Faez Isa presiding over the ceremony, symbolizing the constitutional transfer of power.
• Asif Ali Zardari, 68, secured a resounding victory in the presidential election with 255 votes, while his 75-year-old opponent, Mahmood Khan Achakzai, received 119 votes from the combined National Assembly and Senate.

About Asif Ali Zardari :

• Asif Ali Zardari, aged 68, currently serves as the co-chairperson of the PPP and emerged as the joint candidate of the ruling alliance comprising the PPP and the Pakistan Muslim League-Nawaz (PML-N).
• Zardari previously served as the 11th President of Pakistan from 2008 to 2013, holding the distinction of being the first president born after Independence, thereby bringing unique perspectives to the office.
• Besides his presidential duties, Zardari has been an active member of the National Assembly of Pakistan since August 2018, contributing to legislative and policy matters.

Recent News :

• In March 2024, Shehbaz Sharif, the president of Pakistan Muslim League-Nawaz (PML-N), was elected as the 24th Prime Minister of Pakistan by the National Assembly.

About Pakistan :

• Prime Minister : Shehbaz Sharif
• Capital: Islamabad
• Currency: Rupee

CURRENT AFFAIRS : DEFENCE NEWS

Commencement Scheduled for 1st Edition of Naval Commanders’ Conference 2024

• The first edition of the Biannual Naval Commanders’ Conference 2024 was conducted from 05 to 08 March 2024.
• The conference serves as a crucial institutional platform for discussing significant maritime security issues at the Military-Strategic level.
• The inaugural session of the conference took place onboard the aircraft carrier Indian Naval Ship (INS) Vikramaditya, highlighting the symbolic significance of the event.
• Follow-on proceedings were conducted in New Delhi, in hybrid format, on 07 and 08 March 2024.
• Raksha Mantri Rajnath Singh will address the Naval Commanders.
• The Chief of Defence Staff, along with the Chiefs of the Indian Army and Indian Air Force, will also engage with the Naval Commanders during the conference to discuss the convergence of the three Services in light of the common national security environment.

Key Highlights :

• The conference, which is held annually, brings together Naval Commanders to discuss strategic, operational, and administrative matters related to maritime security.
• On the sidelines of the conference, Naval Commanders also interacted with various ‘Think Tanks’ during a ‘Sagar Manthan’ event.
• The forum provided an opportunity to engage with MSMEs, innovators and Academia to deliberate ways, means and novel avenues to further Aatmanirbharta initiatives and enhance self-reliance in defence production.

About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State : Ajay Bhatt
• Defence Secretary : Giridhar Aramane

Joint Exercise “Sea Defenders-2024” Commences as US Coast Guard Ship Bertholf Visits Port Blair for Collaboration with Indian Coast Guard

• Marking a significant step in bolstering bilateral cooperation between the Indian Coast Guard (ICG) and the United States Coast Guard (USCG), the USCG Ship Bertholf reached Port Blair for a joint exercise with the Indian Coast Guard (ICG).
• Codenamed “Sea Defenders-2024” the joint exercise is scheduled to take place on 09-10 Mar 2024 off the coast of Port Blair.

Key Highlights :

• The exercise will simulate scenarios relevant to maritime piracy and asymmetric threats, including simulated drone attacks on commercial merchant traffic, joint maritime search and rescue operations, major firefighting, marine pollution response, and counter-drug interdiction exercises.
• The Legend-class United States Coast Guard Cutter (USCGC) Bertholf is equipped with advanced technology and weaponry, including helicopter landing pad, state-of-the-art sensors and communication equipment.
• Its visit to India travelling more than 16000 Nautical Miles from Alameda, California reflects a shared commitment to upholding maritime norms and promoting a rules-based order in the Indo-Pacific region.

About ICG :

• Established : 1978 by the Coast Guard Act, 1978, as an independent Armed force of India
• Headquarters : New Delhi, Delhi
• Administration: The organization is headed by the Director General Indian Coast Guard (DGICG).
• Indian Coast Guard (ICG) is an armed force that protects India’s maritime interests and enforces maritime law, with jurisdiction over the territorial waters of India, including its contiguous zone and exclusive economic zone.

China and Maldives Forge New Defense Agreements Amid Strained Relations between Malé and New Delhi

• A defence cooperation agreement has been signed between China and the Maldives to foster stronger bilateral ties.
• The Maldives is poised to receive free military aid from China following a diplomatic dispute with India.
• The agreement between Beijing and Malé was signed by the Maldivian minister of defence Mohamed Ghassan Maumoon and Major General Zhang Baoqun, the Chinese deputy director of the office for international military cooperation.

Key Highlights :

• Deadline Set by Maldives President: Maldives President Mohamed Muizzu has set a deadline for the withdrawal of the first group of Indian military personnel after a diplomatic row with India.
• Discussion on Defense Cooperation: Maldives Defense Minister Mohamed Ghassan Maumoon and Chinese Major General Zhang Baoqun have held talks to explore avenues for enhancing defense cooperation.
• Gift of Ambulances: China has gifted 12 eco-friendly ambulances to the Maldives as part of their bilateral relationship.
• Strained Relations with India: Relations between India and the Maldives have been tense since President Muizzu assumed office in November 2023, who is perceived as pro-China.
• Withdrawal Deadline: President Muizzu has set March 10 as the deadline for the withdrawal of the initial batch of Indian military personnel from the Maldives.

About China :

• Capital : Beijing
• Currency : Renminbi

About Maldives :

• President : Mohamed Muizzu
• Capital : Malé
• Currency : Maldivian rufiyaa

CURRENT AFFAIRS : ACQUISITION & MERGERS

Competition Commission of India (CCI) Greenlights Ring Plus Aqua Limited’s Acquisition of 59.25% Stake in Maini Precision Products Limited (MPPL)

• The Competition Commission of India (CCI) has approved the transaction inter alia envisaging the acquisition of 59.25% shareholding in Maini Precision Products Limited (MPPL) by Ring Plus Aqua Limited (RPAL).
• The proposed combination inter alia envisages the acquisition of 59.25% shareholding in MPPL by RPAL, the acquisition of the entire shareholding of JK Files & Engineering Limited (JK Files) in JK Talabot Limited (JKTL) by a wholly owned subsidiary of Raymond Limited (New Company), and merger of RPAL, MPPL and the engineering business of JK Files into the New Company.

Key Highlights :

• Raymond Limited (Raymond) and its subsidiaries are engaged in manufacture and sale of textiles, lifestyle products, branded apparel, hardware and tools, certain automotive parts, and real estate.
• JK Files, a wholly owned subsidiary of Raymond, is engaged in the business of manufacturing, sale and distribution of hand tools, files and cutting tools; and importing and onward sale of power tools and power tool accessories.
• JKTL, a subsidiary of JK Files, is engaged in the engineering business.
• MPPL is engaged in manufacturing precision products for different industries and manufactures products based on the design requirements of its customers.

About CCI :

• Established : 14 October 2003
• Headquarters : New Delhi, Delhi, India
• Chairman : Ravneet Kaur
• The CCI is the chief national competition regulator in India.
• It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 to promote competition and prevent activities that have an appreciable adverse effect on competition in India.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Government Plans Collaboration with  Indian Space Research Organisation to Bring Internet to 80 Remote Tribal Villages

• The Ministry of Tribal Affairs is planning to collaborate with the Indian Space Research Organisation (ISRO) to deploy V-SAT stations on a pilot basis for around 80 tribal villages in Jharkhand, Madhya Pradesh, Odisha, and Maharashtra to bring Internet services there.

Key Highlights :

• Enhanced Connectivity: These V-SAT stations will offer Wi-Fi capacity of up to 100 Mbps, which can be further boosted by additional boosters, thereby improving connectivity and facilitating access to essential services for tribal communities.
• V-SAT Technology: Very Small Aperture Terminal (VSAT) stations, which are less than three meters tall, will be utilized.
• VSAT is a two-way ground station capable of transmitting and receiving data from satellites in real-time, ensuring effective communication in remote areas.
• Health Research Partnership: The Tribal Affairs Ministry is collaborating with AIIMS Delhi to conduct advanced research on tribal health issues, with a specific focus on addressing Sickle Cell Anemia. Additionally, training programs for medical professionals in tribal areas are being organized.
• Specialized Department Proposal: A proposal has been put forth to establish a specialized department for Appropriate Technology and Entrepreneurship in collaboration with IIT Delhi and IIM Kolkata, aiming to foster innovation and entrepreneurship in tribal communities.
• Education and Training Initiatives: The Indian Institute of Science (IISc) plans to establish a training facility (Fab) to educate Scheduled Tribe (ST) students in semiconductor courses, offering 2100 NSQF-certified level 6.0 & 6.5 training.
• This initiative aims to enhance skill development and educational opportunities for tribal students.
• Ministry’s Achievements: Tribal Affairs Minister, T. Shri Munda, launched a coffee table book on PM JANMAN, a booklet on DAPST (Development Action Plan for Scheduled Tribes), and a booklet highlighting the 10-year achievements of the Ministry of Tribal Affairs, showcasing the government’s commitment to the welfare and development of tribal communities.

About ISRO :

• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath

CURRENT AFFAIRS: MOUS AND AGREEMENT

Centre inks MoU to support individuals with speech-hearing disabilities

• The Department of Empowerment of Persons with Disabilities (DEPwD) has signed a Memorandum of Understanding (MoU) with SignAble Communications.
• The MoU signifies a significant step forward in improving support for individuals with speech and hearing disabilities.
• The MoU aims to enhance communication and accessibility for visually and hearing-impaired Divyangjan.
• Presently, various departmental organizations utilize different helpline numbers, making it crucial to establish a centrally maintained, user-friendly Short Code Helpline Number.
• The National Level Helpline for Divyangjan, Short Code-14456, launched on Jan 8, 2024, at the International Purple Fest, Goa.

Department of Empowerment of Persons with Disabilities signs MoU with Electronics Sector Skills Council of India for Skilling of PwDs

• In a pivotal move towards enhancing the empowerment and skill development of Persons with Disabilities (PwDs), the Department of Empowerment of Persons with Disabilities (DEPwD) has inked a Memorandum of Understanding (MoU) with the Electronics Sector Skills Council of India (ESSCI).
• The MoU, spearheaded by Shri Rajesh Aggarwal, was formalized to equip PwDs with the necessary skills for various job roles within the electronics sector.
• This landmark MoU signifies a collaborative effort to cultivate human resources through vocational training aligned with industry demands.
• By leveraging the expertise of ESSCI, the initiative aims to create pathways for sustainable livelihoods and foster a globally competitive workforce.
• Under the terms of the MoU, ESSCI commits to providing vocational training to PwDs by the National Council for Vocational Education and Training (NCVET) course standards.
• Additionally, ESSCI will facilitate engagement with potential employers and industrial networks to ensure seamless placement opportunities for trainees.
• Importantly, placements will guarantee a monthly salary compliant with the Minimum Wages Act and industry benchmarks.
• Furthermore, ESSCI will uphold its commitment to post-placement support by offering counseling and tracking services for a minimum of three months following placement, ensuring the continued success and integration of PwDs within the workforce.
• This collaboration marks a significant stride towards inclusivity and economic empowerment, reaffirming the commitment of DEPwD and ESSCI to create an enabling environment for PwDs to thrive in the electronics sector

NHAI signs MoU with HLL Life Care for incident management system

• To provide immediate assistance to accident victims and strengthen the Incident Management System (IMS) on the National Highways, NHAI has signed a Memorandum of Understanding (MoU) with HLL Lifecare Limited, a Public Sector Undertaking under the Ministry of Health & Family Welfare (MoH&FW).
• The MoU was signed in the presence of NHAI Chairman, Shri Santosh Kumar Yadav, and Shri Kuruvilla P.C., Associate Vice President & Business Head, HLL Lifecare Limited, along with other senior officials from NHAI and HLL Lifecare Ltd.
• The MoU will help NHAI to strengthen its existing Incident Management System, which includes Ambulances, Route Patrol Vans & Cranes, real-time tracking, and supportive supervision.
• This will improve response time and facilitate referral of accident victims to the nearest health facilities, establishing a seamless process for incident management.
• This will include Operation & Management of Trauma Centres/Emergency Stabilization Centers to maximize assistance during the golden hour and improve health outcomes.
• This will also help to strengthen services provided through National Highway Toll-Free Helpline Number 1033 resulting in improved response time.
• This agreement will remain in effect for a period of five years.
• This unique collaboration between two Government Organizations underlines NHAI’s focus on enhancing the Incident Management System and providing timely assistance to accident victims.
• This arrangement will play a prominent role in providing immediate medical assistance and saving precious lives on the National Highways across the country.

CURRENT AFFAIRS: IMPORTANT DAYS

CISF Raising Day: March 10

• CISF Raising Day is celebrated on 10th March 2024.
• The Central Industrial Security Force (CISF) is one of the Central Armed Police Forces in India.
• CISF is a unique organization in the paramilitary forces of India, which works to provide security cover to over 300 industrial units, government infrastructure projects, and facilities and establishments located all over India.
• CISF was formed on March 10, 1969, under the CISF Act of the Parliament of India.
• It started with as many as 2,800 personnel for the better protection and security of industrial undertakings in the country.
• Three battalions were formed to provide integrated security cover to the Public Sector Undertakings (PSUs) which, in those years, occupied the commanding heights of the economy.

Daily CA One- Liner: March 10 & 11

• The Union Minister for Communication, Electronics, IT and Railways Ashwini Vaishnaw launched India’s fastest and indigenously developed Multiprotocol Label Switching router in Bengaluru
• Prime Minister Narendra Modi inaugurated and laid the foundation stone of about 12 projects worth 8,534 crore rupees for Tripura virtually during his visit to Itanagar in Arunachal Pradesh
• Prime Minister, Shri Narendra Modi inaugurated, dedicated to the nation and laid the foundation stone for multiple development projects worth more than Rs 17,500 crores in Jorhat, Assam
• The Union Minister for Road Transport & Highways, Shri Nitin Gadkari approved has been given for widening of the 12.4 km long Dhrol to Amaran section of National Highway-151-A in Morbi district of Gujarat to 4-lane for Rs 625.58 crore
• Coal PSUs under the administrative control of MoC have been at the forefront of doing CAPEX to assist and contribute to transforming the Indian economy
• SJVN Limited, a Mini Ratna, Category-I and Schedule ‘A’ Central public sector enterprise under the administrative control of the Ministry of Power, Government of India, has received Letters of Award for the development of Solar Power Projects of capacity 1,352 MW in Maharashtra
• India has been bestowed with the prestigious measles and rubella champion award for its exemplary efforts in combating these diseases
• The Department of Empowerment of Persons with Disabilities (DEPwD) has signed a Memorandum of Understanding (MoU) with SignAble Communications
• In a pivotal move towards enhancing the empowerment and skill development of Persons with Disabilities (PwDs), the Department of Empowerment of Persons with Disabilities (DEPwD) has inked a Memorandum of Understanding (MoU) with the Electronics Sector Skills Council of India
• To provide immediate assistance to accident victims and strengthen the Incident Management System (IMS) on the National Highways, NHAI has signed a Memorandum of Understanding (MoU) with HLL Lifecare Limited, a Public Sector Undertaking under the Ministry of Health & Family Welfare
• The Finance Ministry has announced that the interest rates for small savings schemes for the upcoming quarter of April-June 2024 will remain the same as the rates applicable in the previous quarter (January-March 2024).
• NPCI International Payments (NIPL), the international arm of the National Payments Corporation of India (NPCI) has entered into an agreement with Nepal-based payment network Fonepay Payment Service, for cross-border Unified Payments Interface (UPI) transactions between India and
• Star Health, headquartered in Chennai,Tamil Nadu has achieved a significant milestone in the insurance industry by becoming the first standalone health insurance company to settle over 1 crore claims since its establishment in 2006.
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensionerse.f.Jan 2024 representing an increase of 4% over the existing rate of 46% of the Basic Pay/Pension, to compensate against price rise.
• Asif Ali Zardari, the Co-chairperson of the Pakistan People’s Party (PPP), has secured his second term as Pakistan’s 14th President, marking a significant milestone in the nation’s history, particularly in a context marked by past military interventions.
• The first edition of the Biannual Naval Commanders’ Conference 2024 was conducted from 05 to 08 March 2024.
• Marking a significant step in bolstering bilateral cooperation between the Indian Coast Guard (ICG) and the United States Coast Guard (USCG), the USCG Ship Bertholf reached Port Blair for a joint exercise with the Indian Coast Guard (ICG).
• A defence cooperation agreement has been signed between China and the Maldives to foster stronger bilateral ties.
• The Competition Commission of India (CCI) has approved the transaction inter alia envisaging the acquisition of 59.25% shareholding in Maini Precision Products Limited (MPPL) by Ring Plus Aqua Limited (RPAL).
• The Ministry of Tribal Affairs is planning to collaborate with the Indian Space Research Organisation (ISRO) to deploy V-SAT stations on a pilot basis for around 80 tribal villages in Jharkhand, Madhya Pradesh, Odisha, and Maharashtra to bring Internet services there.
• CISF Raising Day is celebrated on 10th March 2024.

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