Daily Current Affairs March 12 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

SEBI Releases Guidelines for Small and Medium REITs to Govern Fractional Ownership of Real Estate

• The Securities and Exchange Board of India (SEBI) has issued regulations to amend the REIT Regulations 2014, establishing guidelines for the creation of Small and Medium Real Estate Investment Trusts, or SM REITs.
• Aim :To regulate the fractional ownership industry and safeguard investor interests, incorporating both commercial and residential properties within the new framework.

Key Highlights :

• Fundraising Threshold : Under the new framework, SM REITs can raise funds starting from ₹50 crore by issuing units to a minimum of 200 investors.
• Utilization of Funds : The funds will be utilised for acquiring and managing real estate assets and generating income for investors.
• Ownership Structure : Ownership of these assets will be structured through schemes operating under special purpose vehicles (SPVs), with a net worth requirement of ₹20 crore for the investment manager.
• The SEBI (REIT) (Amendment) Regulations, 2024 stipulate that an SM REIT’s listing process will resemble an IPO, but with a key difference in asset completion requirements.
• Asset Development Requirement: At least 95% of the assets for SM REIT schemes must be fully developed and generating revenue, compared to the 80% requirement for larger REITs.
• Minimum Subscription Amount: The minimum subscription amount for an SM REIT’s initial offering is ₹10 lakh per investor, offering a more accessible entry point compared to the current norm.
• Investment Manager’s Retention: The investment manager is mandated to retain a minimum of 5% of outstanding units for two years post-listing, a reduction from the initially proposed 15%.
• Leverage and Co-Investment Requirement: SM REITs utilizing leverage must ensure a 15% co-investment by the manager, with leverage capped at 49% of the REIT’s assets.
• Approval Date: These amendments, approved by SEBI on 25 November 2023, aim to foster the growth of SM REITs, providing a boost to fractional ownership in India.
• Fractional Ownership Platforms: Fractional ownership platforms, estimated to manage over ₹4,000 crore in assets, allow individual investors to co-own properties as an alternative investment, with investments typically directed towards pre-leased assets ensuring monthly rental returns.

About SEBI :

• Established: 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters: Mumbai, Maharashtra
• Chairman: Madhabi Puri Buch
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance, GoI.

World Bank Commits $3 Billion to Egypt Following Agreement with International Monetary Fund

• Egypt is set to receive a $3 billion loan from the World Bank following an initial agreement with the International Monetary Fund (IMF) to expand the IMF’s loan arrangement, part of a larger $20 billion package from various international partners.

Key Highlights :

• Composition of $20 Billion Package:The $20 billion package includes approximately $11 billion from international partners such as the World Bank, European Union, Japan, and the United Kingdom (UK).
• Additionally, it incorporates the $8 billion IMF package agreed upon last week.
• Climate Finance Allocation Discussions:Ongoing discussions involve allocating $1 to 1.2 billion for climate finance through the IMF’s Resilience and Sustainability Facility.
• IMF Staff-Level Agreement:The IMF announced a staff-level agreement with Egypt to expand the loan arrangement under the Extended Fund Facility (EFF) from $3 billion to $8 billion in support of Egypt’s economic reforms.
• Approval by the IMF Executive Board is anticipated before the end of March.
• Reasons for IMF Agreement:Egypt’s central bank recently floated its local currency and raised interest rates by 6 percent to stabilize the currency exchange market and address high inflation.
• According to a report released by Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS), Urban inflation reached 35.7 percent in February, compared to 29.8 percent in January, prompting measures to stabilize prices and address foreign currency shortages for imports.

About World Bank :

• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga

About IMF :

• Headquarters : Washington, D.C., United States
• Managing Director : Kristalina Georgieva
• Membership : 190 countries (189 UN countries and Kosovo)

About Egypt :

• President : Abdel Fattah el-Sisi
• Prime Minister : Moustafa Madbouly
• Capital : Cairo
• Currency : Egyptian pound

Bajaj Allianz General Introduces ‘Insurance Samjho,’ an AI-powered bot Powered by GenAI  

• Leading private general insurer Bajaj Allianz General Insurance launched “Insurance Samjho”, a Gen AI-powered bot designed to simplify insurance complexities for customers.
• Aim : To address the dissatisfaction of policyholders during claim settlement arising due to lack of understanding, intricate details and fine print of the insurance policy.

About Insurance Samjho :

• Functionality: “Insurance Samjho” offers a user-friendly interface with intuitive AI capabilities to break down complex insurance terms into simple, conversational language.
• Virtual Assistant: The bot serves as a virtual assistant, allowing customers to ask questions about their coverage, exclusions, procedures, or seek clarity on specific medical conditions.
• Similarity to Chat GPT: The bot operates similarly to Chat GPT, where customers can ask questions and seek clarification on various aspects of their policies based on uploaded documents.
• The bot provides clear, concise answers in a conversational style, ensuring transparency and easy comprehension.

About bajaj allianz general insurance :

• Founded : 2000
• Headquarters : Pune, Maharashtra
• MD & CEO : Tapan Singhel

Pension Fund Regulatory and Development Authority Chairperson Deepak Mohanty Unveils Mobile App to Promote Financial Inclusion and Enhance NPS Engagement                                                   

• Pension Fund Regulatory and Development Authority (PFRDA) Chairperson Deepak Mohanty has launched a user-friendly web application developed by Zerodha Broking Limited, designed to simplify access to the National Pension System (NPS) for subscribers.
• This new initiative is part of a broader strategy to increase the NPS’s reach and streamline its management.
• The application aims to provide a seamless experience for users, allowing them to easily manage their NPS accounts.
• PS is available to non-resident Indians (NRIs), making it a versatile option for a wide range of individuals.
• By leveraging technology, such as the web application developed by Zerodha Broking Limited, the NPS aims to attract more subscribers, particularly among the tech-savvy younger generation.

About Zerodha Broking Limited :        

• Founders: Nithin Kamath, Nikhil Kamath
• Zerodha Broking Limited is an Indian financial services company.

About PFRDA : 

• Established : 2003
• Headquarters : New Delhi, Delhi
• Chairman : Deepak Mohanty
• PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.
• It operates under the jurisdiction of the Ministry of Finance in the Government of India.

RBL Bank Introduces GO Savings Account with Zero Balance Requirement              

• RBL Bank unveils the GO Savings Account, featuring a zero balance requirement, to encourage savings and enhance banking accessibility.

Key Features:

• Interest Rates: The account offers attractive interest rates of up to 7.5% per annum.
• Premium Debit Card: Users benefit from a premium debit card.
• Vouchers: Subscribers receive vouchers worth ₹1,500 for premier brands, enhancing the value proposition.
• Insurance Cover: The account includes comprehensive cyber insurance, accident insurance, and travel insurance, providing coverage up to ₹1 crore.
• Free CIBIL Report: Users are entitled to a free CIBIL report, facilitating financial awareness.
• Premium Banking Services: Additional premium banking services are bundled into the account package.
• Subscription Fee Structure:Initial Year: The first-year subscription fee is ₹1,999 + taxes.
• Annual Renewal: Subsequent annual renewals have a fee of ₹599 + taxes.
• Comprehensive Insurance Coverage:The account offers comprehensive insurance coverage, encompassing cyber, accident, and travel insurance.
• Users are advised to thoroughly review coverage details, exclusions, and claim procedures for a clear understanding.

What is a Zero-Balance Account?

• A zero-balance account refers to a savings bank account, which has a zero balance in it and yet not charged.
• It is legally known as a Basic Savings Bank Deposit (BSBD) account as per the Reserve Bank of India (RBI) guideline.
• The facility is provided by banks to encourage more savings among people.

About RBL Bank :

• Established : August 1943
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : R. Subramania kumar
• Tagline : Apno Ka Bank

CURRENT AFFAIRS: NATIONAL NEWS

Shri Nitin Gadkari sanctions Rs. 2093.92 crore for widening and strengthening various National Highway projects in Jammu & Kashmir

• Union Minister for Road Transport & Highways, Shri Nitin Gadkari informed, in Jammu & Kashmir, an allocation of Rs. 1404.94 crore has been approved for the Widening and Strengthening project of the Rafiabad – Kupwara – Chowkibal – Tangdhar – Chamkot section of National Highway-701
• It aims to transform the 51 Km route into 2-lanes with Paved, Shoulder.
• Critical for logistics in the region, this strategic route connecting Baramulla and Kupwara districts plays a pivotal role and is integral to the development of the tourism sector in North Kashmir near the International Border
• An allocation of Rs. 126.58 crore has been approved for the development, Operation, and Maintenance of a Ropeway from SDA Parking (Near Zabarwan Park) to Shankaracharya Temple.

Shri Nitin Gadkari approves Rs. 2281.10 crore for widening and strengthening of National Highways in Tamil Nadu

• Union Minister for Road Transport & Highways, Shri Nitin Gadkari Informed, in Tamil Nadu, a substantial allocation of Rs. 1376.10 crore has been approved for the widening of the existing 2-Lane Paved Shoulder from Tiruvallur to the Tamil Nadu/Andhra Pradesh border section of National Highway-716.
• This transformation to a 4-lane configuration with paved shoulders in Thiruvallur district spans 43.95 Km under Package-1.
• The development aims to establish a fully access-controlled corridor, integral to a significant route connecting the sacred cities of Tiruthani and Tirupathi.
• This segment, traversing challenging terrain, has been marred by deficiencies such as sharp S-curves with a radius as low as 110m, contributing to accidents.
• The proposed improvements, including an elevated corridor/viaduct on the left-hand side, aim to mitigate accidents on this National Highway-44 stretch, which is a crucial part of the Bengaluru – Kanyakumari section of the North-South corridor in Tamil Nadu.

Prime Minister Narendra Modi launches 112 National Highway projects for various states starting in Gurugram, Haryana.

• Prime Minister Narendra Modi inaugurated and laid the foundation stone of 112 National Highway projects spread across the country worth about one lakh crore in Gurugram, Haryana.
• The projects inaugurated include the Haryana section of the landmark Dwarka Expressway, three packages of Lucknow Ring Road, the Anandapuram – Pendurthi – Anakapalli section of NH16 in Andhra Pradesh, and the Kiratpur to Nerchowk section of NH-21 in Himachal Pradesh.
• Major projects for which the foundation stone was laid include the Bengaluru – Kadappa – Vijayawada Expressway in Andhra Pradesh, six packages of Belgaum – Hungund – Raichur Section of NH-748A in Karnataka, three packages of Shamli – Ambala Highway in Haryana and two packages of Amritsar – Bathinda corridor in Punjab.

India is now the second-largest manufacturer of mobile phones worldwide.

• 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 informed that the sector has transitioned from being 78 percent import-dependent in 2014 to 97 per cent 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.
• India produced 2.45 billion units of mobile phones during these ten years, against a goal of 2.5 billion units.

Union Minister Piyush Goyal Extends RoDTEP Scheme to Additional Export Sectors

• Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal announced the extension of the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi.
• The Government of India has announced the extension of the RoDTEP Scheme support to additional export sectors i.e. Advance Authorisation (AA) holders, Export Oriented Units (EOU) and Special Economic Zones (SEZ) export units.
• This decision comes in recognition of the significant contribution these sectors make to India’s Exports, constituting approximately 25% of our exports.

Key Highlights

• The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme is a key initiative by the Government of India aimed at refunding various embedded taxes and duties on exported products.
• Since its inception in January 2021, the RoDTEP Scheme has already provided support amounting to ₹42,000 Crores to more than 10,500 export items at 8-digit ITC HS Code level.
• In the current financial year, the scheme has a budget of ₹15,070 Crore with an additional increase of 10% in FY 2024-25.
• Keeping budgetary allocation in view, the extension of RODTEP to additional sectors is presently till 30.09.2024.
• The extension of the RODTEP scheme to these sectors is aimed at enhancing India’s export competitiveness in international markets.
• Key sectors such as Engineering, Textiles, Chemicals, Pharmaceuticals & Food Processing and many others stand to benefit from the measure.

CURRENT AFFAIRS : STATE NEWS

Uttarakhand Chief Minister Pushkar Singh Dhami Digitally Launches 122 Schemes Across 17 Departments Valued at ₹8275.51 Crore            

• Uttarakhand Chief Minister Shri Pushkar Singh Dhami inaugurates and lays the foundation stone for 122 schemes across 17 departments, totalling Rs 8275.51 crore, utilizing digital platforms for the ceremony.

Key Highlights :

Scope of Projects:

• Inauguration: Projects worth Rs 1,048.15 crore across 11 departments are inaugurated during the event.
• Foundation Stones Laid: Additionally, foundation stones are laid for schemes valued at Rs 7,227.36 crore across 15 departments.

Special Schemes:

• Prepaid Metre Scheme: The Chief Minister lays the foundation stone for the Energy Department’s prepaid metre scheme, valued at Rs 2027 crore.
• Distribution of Tool Kits: Tool kits are distributed to workers registered through the Building and Other Construction Workers Welfare Board, emphasizing support for labor welfare.
• In the programme, the Chief Minister was met by Secretary Energy and MD Pitkul Shri P.C.
• A dividend cheque of 5 crore was also presented by Dhyani.

Allocation of Solar Energy Projects:

• Chief Minister Dhami allocates allotment letters for solar energy projects to entrepreneurs and individual beneficiaries under the Mukhyamantri Solar Swarozgar Yojana.
• Mussoorie Dehradun Development Authority Projects: Foundation stones for projects worth approximately Rs 226 crore under the Mussoorie Dehradun Development Authority are laid during the event.

Recent Project Initiatives:

• In the past two months, foundation stones for schemes worth:
  • Rs 2215 crore in Tanakpur,
  • Rs 5868 crore in Haridwar,
  • Rs 161 crore in Champawat,
  • Rs 117 crore in Almora,
  • Rs 828 crore in Pauri Garhwal, and
  • Rs 456 crore in Rudraprayag have been inaugurated or laid.
• This cumulative effort amounts to inaugurating and laying foundation stones for schemes exceeding Rs 18,000 crore within the last two months alone, showcasing significant development initiatives under Chief Minister Dhami’s leadership.

About Uttarakhand :

• Governor : Gurmit Singh
• Chief Minister : Pushkar Singh Dhami
• National Park : Corbett National Park, Rajaji national Park, Nanda Devi National Park
• Wildlife Sanctuary : Kedarnath Wildlife Sanctuary

The First Government Homeopathic College in Northern India to be Established in Kathua, Jammu and Kashmir

• Union Minister of State (Independent Charge) Science & Technology, Dr Jitendra Singh, announced the establishment of North India’s first Government Homeopathic College in the Jasrota area of Kathua district, Jammu & Kashmir (J&K).
• The project is centrally funded at Rs 80 crore, signifying a significant investment in healthcare and education infrastructure development in the region.

Key Highlights :

• Infrastructure: The college will cover an area of over 8 acres, with provisions for further expansion.
• It will include a hospital complex, a college, an administrative block, and separate hostels for male and female students.
• Healthcare Approach: The institution is being built in alignment with the Modi government’s healthcare approach, which aims to synergize allopathic with Ayush streams of medicine, including Homeopathy, Ayurveda, and naturopathy.
• Treatment Options: The college aims to provide cost-effective treatment options to patients and cater to the growing demand for Homeopathy in the region.

About J&K :

• Lieutenant Governor : Manoj Sinha
• Capital : Srinagar, Jammu
• National Park : Dachigam National Park, Kishtwar National Park, Kazinag National Park

Karnataka and Rajasthan States Pioneer the Country’s First Exploration Licence for Critical and Deep-Seated Minerals

• In a pioneering step towards enhancing the mining sector, Karnataka and Rajasthan have commenced the auction of Exploration Licences (EL) for critical and deep-seated minerals.

Key Highlights :

• Auction Blocks: Karnataka offers one block featuring gold, copper, and lithium, while Rajasthan opens bids for three blocks encompassing rare earth elements, rare metals, and potash minerals, signaling a diversification of mineral resources.
• Legal Framework Amendment: This significant development follows the amendment of the Mines and Minerals (Development and Regulation) Act, 1957, through the MMDR Amendment Act, 2023, effective from August 17, 2023.
• Introduction of Exploration Licence: The MMDR Amendment Act, 2023, introduces a new mineral concession of exploration licence, focusing on 29 critical and deep-seated minerals to bolster exploration and mining activities nationwide.
• Pioneer States: Karnataka and Rajasthan emerge as the first states to notify the auction of exploration licences, setting an example for other states to follow.
• Anticipated participation from Andhra Pradesh, Chhattisgarh, Madhya Pradesh, and Maharashtra underscores the nationwide significance of this initiative.

About Gujarat :

• Capital: Gandhinagar
• Chief minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
• NP: Gir National Park, Marine National Park, Velavadar National Park
• Wildlife Sanctuary : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga Wildlife Sanctuary

About Rajasthan :

• Governor : Kalraj Mishra
• Chief Minister : Bhajan Lal Sharma
• Capital : Jaipur
• National Park : Keoladeo National Park, Ranthambore National Park
• Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

Kerala School Introduces Iris, India’s First AI Humanoid Teacher Powered by Generative Technology                     

• A school in Thiruvananthapuram, Kerala has unveiled a groundbreaking innovation in education with the introduction of India’s first Generative Artificial Intelligence(AI) teacher robot named ‘Iris’.
• Developed in collaboration with Makerlabs Edutech, Iris aims to transform traditional teaching methods through personalised learning experiences for students.
• Iris has been deployed at KTCT Higher Secondary School, Thiruvananthapuram, marking a significant advancement in educational technology within the region.
• Built under the Atal Tinkering Lab (ATL) project initiated by NITI Aayog, this AI teacher robot, Iris, boasts a range of features aimed at revolutionising traditional teaching methods.
• The robot can teach subjects from nursery to Class 12.
• The robot currently speaks three languages – English, Hindi and
• Iris is created by Maker Labs, further demonstrating India’s capacity for innovation in the field of educational technology.

Recent News :

• In Aug 2023, India’s first AI school, Santhigiri Vidyabhavan, was launched in Kerala.

About Kerala:

• Capital: Thiruvananthapuram
• Chief Minister: Pinarayi Vijayan
• Governor: Arif Mohammad Khan
• National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park, Silent Valley National Park, Indira Gandhi National Park

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Author & philanthropist Sudha Murty Nominated to Rajya Sabha by President Droupadi Murmu                             

• Sudha Murty,73, former chairperson of Infosys Foundation and philanthropist, has been nominated to the Rajya Sabha by President Droupadi Murmu, becoming the 12th nominated member in the Upper House of Parliament.
• Constitutional Provision: Article 80(3) of the Constitution stipulates that out of the 245 members in the Rajya Sabha, 12 are nominated by the President based on the government’s recommendation.
• Qualifications for Nomination: According to Article 80(3), nominated members should possess special knowledge or practical experience in fields such as literature, science, art, or social service.

Key Highlights :

• A nominated member, however, is allowed to join a political party within the first six months of taking a seat.
• The 10th Schedule of the Constitution says, “A nominated member of a House shall be disqualified for being a member of the House if he joins any political party after the expiry of six months from the date on which he takes his seat after complying with the requirements of Article 99 or, as the case may be, Article 188.”
• The other 11 are three-time BJP Lok Sabha MP from UP Ram Shakal; author and RSS leader Rakesh Sinha; Bharatanatyam exponent Sonal Mansingh; former Chief Justice of India Ranjan Gogoi; senior lawyer and former BJP leader Mahesh Jethmalani; musician Ilaiyaraaja; philanthropist and the hereditary administrator of the Dharmasthala Temple Veerendra Heggade; former athlete and Asian Games gold medallist P T Usha; BJP leader from the Gujjar community in Jammu and Kashmir Ghulam Ali; Telugu screenwriter and film director V Vijayendra Prasad; and Punjab educationist Satnam Singh Sandhu.

About Sudha Murty :

• Sudha Murty born in Shiggaon, Haveri District, North Karnataka.
• In 2006, Sudha Murty was awarded the Padma Shri, the fourth-highest civilian award in India.
• In 2023, she received the Padma Bhushan, the third-highest civilian award.
• Sudha Murthy is also recognised for her novel ‘Dollar Bahu’, which she wrote in Kannada and later translated into English.
• The novel was also televised into a dramatic series by Zee TV in 2001. She also wrote the story ‘Runa’, which was adapted into a Marathi film.

Rajendra Prasad Goyal Takes on Additional Responsibility as Chairman and Managing Director of NHPC                       

• Rajendra Prasad Goyal, Director (Finance), NHPC has taken over the additional charge of the post of Chairman and Managing Director (CMD) of NHPC Limited, India’s premier hydropower company and a Schedule ‘A’ Enterprise of Government of India (GoI).

About Rajendra Prasad Goyal :

• Goyal joined NHPC on 18th November 1988 as Finance Professional.
• He is Chairman of Lanco Teesta Hydro Power Limited (LTHPL), Jal Power Corporation Limited (JPCL), Bundelkhand Saur Urja Limited (BSUL) and NHPC Renewable Energy Limited (NREL) and Nominee Director on the Board of NHDC Limited, Chenab Valley Power Projects Private Limited (CVPPPL), Ratle Hydroelectric Power Corporation Limited (RHPCL) and Loktak Downstream Hydroelectric Corporation Limited (LDHCL) which are Subsidiary Companies of NHPC.
• Goyal is also a member of the Executive Board of Standing Conference of Public Enterprises (SCOPE), New Delhi.

CURRENT AFFAIRS: MOUS AND AGREEMENT

NPCI ties up 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 UPI transactions between India and Nepal.
• The arrangement will facilitate QR-code-based, person-to-merchant (P2M) UPI transactions between the two countries.
• In the first phase, Indian consumers will be able to make instant, secure and convenient UPI payments across various business stores in Nepal to merchants on the Fonepay Network.
• Fonepay is a Payment System Operator (PSO) and a subsidiary of the F1Soft Group. It facilitates inter-bank person-to-person (P2P) and person-to-merchant (P2M) transactions through its interoperable network and mobile platforms.
• Regulated by Nepal Rastra Bank (NRB), FonePay is Nepal’s first mobile payment network to be licensed as a PSO.
• The agreement with Nepal comes a week after NPCI International signed an MoU with Greece-based Eurobank S.A. to streamline cross-border payments between Greece to India using UPI rails.

Coal India signs agreement with Australian firms to mine critical minerals

• Coal India Limited (CIL), the world’s largest coal-producing company, has inked two Non-Disclosure Agreements (NDAs) with entities in New South Wales (NSW), Australia, indicating advanced discussions.
• Additionally, CIL is exploring mining opportunities for critical minerals on a global scale, with Argentina among the key countries under consideration.
• The initiative aligns with India’s goals set at COP28, emphasizing the reduction of carbon emissions through the adoption of clean energy.
• Critical minerals, as defined by the Ministry of mines, are vital for economic development and national security, finding extensive use in the energy, communications, space, and nuclear sectors.
• On February 29, the government launched the second tranche of critical minerals auctions, including 18 minerals such as nickel, cobalt, and potash.

About CIL

• Coal India Limited is an Indian central public sector undertaking under the ownership of the Ministry of Coal, Government of India.
• It is headquartered at Kolkata.
• CEO: Pramod Agrawal

CURRENT AFFAIRS: SPORTS NEWS

Satwiksairaj Rankireddy and Chirag Shetty win Doubles title at French Open badminton tournament in Paris

• Indian pair Satwiksairaj Rankireddy and Chirag Shetty have clinched their second French Open Men’s doubles Badminton title.
• The Indian top seed registered a straight games victory over Yang Po-han and Lee Jhe-huei of Taiwan in the final 21-11, 21-17.
• Satwik and Chirag had earlier won the title in 2022.

India is ranked first in all three formats and first in the ICC Test rankings.

• India crushed England in Dharamsala to win the five-match series 4-1, Rohit Sharma’s side claimed the top spot in the ICC Test rankings, overtaking Australia in the latest rankings released by the world governing body for Cricket in Dubai.
• India, who are already heading the World Test Championship standings, are now at the summit of the ICC rankings in all three formats of the game.
• Rohit’s side will remain at the top of the chart, irrespective of the result of the second Test between New Zealand and Australia currently underway in Christchurch.

CURRENT AFFAIRS : OBITUARIES

Creator of ‘Dragon Ball’ Series and Renowned Anime Artist, Akira Toriyama, Passed Away

• Akira Toriyama, the creator of the widely popular “Dragon Ball” comics and anime, has passed away at the age of 68.

About Akira Toriyama :

• Akira Toriyama, born on April 5, 1955, was a renowned Japanese manga artist and character designer.
• He gained recognition with his manga series “Dr Slump”.
• Even though “Dragon Ball” is what Akira Toriyama is best known for, he is also famous for “Sand Land”, “Dragon Quest”, and “Chrono Trigger”, appealing to fans of manga, anime, and video games alike.
• He earned the 1981 Shogakukan Manga Award for best shonen manga with “Dr Slump”, which sold over 35 million copies in Japan and led to a successful anime adaptation, followed by a second anime created in 1997.

Daily CA One- Liner: March 12

• The Union Minister for Road Transport & Highways, Shri Nitin Gadkari informed, in Jammu & Kashmir, an allocation of Rs. 1404.94 crore has been approved for the Widening and Strengthening project of the Rafiabad – Kupwara – Chowkibal – Tangdhar – Chamkot section of National Highway-701.
• The Union Minister for Road Transport & Highways, Shri Nitin Gadkari Informed, in Tamil Nadu, a substantial allocation of Rs. 1376.10 crore has been approved for the widening of the existing 2-Lane Paved Shoulder from Tiruvallur to the Tamil Nadu/Andhra Pradesh border section of National Highway-716.
• Prime Minister Narendra Modi inaugurated and laid the foundation stone of 112 National Highway projects spread across the country worth about one lakh crore in Gurugram, Haryana
• India now stands as the world’s second-largest producer of mobile phones at the end of the decade 2014-2024.
• The Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal announced the extension of Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi
• 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 UPI transactions between India and Nepal.
• Coal India Limited (CIL), the world’s largest coal-producing company, has inked two Non-Disclosure Agreements (NDAs) with entities in New South Wales (NSW), Australia, indicating advanced discussions
• The Securities and Exchange Board of India (SEBI) has issued regulations to amend the REIT Regulations 2014, establishing guidelines for the creation of Small and Medium Real Estate Investment Trusts, or SM REITs.
• Egypt is set to receive a $3 billion loan from the World Bank following an initial agreement with the International Monetary Fund (IMF) to expand the IMF’s loan arrangement, part of a larger $20 billion package from various international partners.
• Leading private general insurer Bajaj Allianz General Insurance launched “Insurance Samjho”, a Gen AI-powered bot designed to simplify insurance complexities for customers.
• Pension Fund Regulatory and Development Authority (PFRDA) Chairperson Deepak Mohanty has launched a user-friendly web application developed by Zerodha Broking Limited, designed to simplify access to the National Pension System (NPS) for subscribers.
• RBL Bank unveils the GO Savings Account, featuring a zero balance requirement, to encourage savings and enhance banking accessibility.
• Uttarakhand Chief Minister Shri Pushkar Singh Dhami inaugurates and lays the foundation stone for 122 schemes across 17 departments, totalling Rs 8275.51 crore, utilizing digital platforms for the ceremony.
• Union Minister of State (Independent Charge) Science & Technology, Dr Jitendra Singh, announced the establishment of North India’s first Government Homeopathic College in the Jasrota area of Kathua district, Jammu & Kashmir (J&K).
• In a pioneering step towards enhancing the mining sector, Karnataka and Rajasthan have commenced the auction of Exploration Licences (EL) for critical and deep-seated minerals.
• A school in Thiruvananthapuram, Kerala has unveiled a groundbreaking innovation in education with the introduction of India’s first Generative Artificial Intelligence(AI) teacher robot named ‘Iris’.
• Sudha Murty,73, former chairperson of Infosys Foundation and philanthropist, has been nominated to the Rajya Sabha by President Droupadi Murmu, becoming the 12th nominated member in the Upper House of Parliament.
• Rajendra Prasad Goyal, Director (Finance), NHPC has taken over the additional charge of the post of Chairman and Managing Director (CMD) of NHPC Limited, India’s premier hydropower company and a Schedule ‘A’ Enterprise of Government of India (GoI).
• Akira Toriyama, the creator of the widely popular “Dragon Ball” comics and anime, has passed away at the age of 68.
• Indian pair Satwiksairaj Rankireddy and Chirag Shetty have clinched their second French Open Men’s doubles Badminton title
• India crushed England in Dharamsala to win the five-match series 4-1, Rohit Sharma’s side claimed the top spot in the ICC Test rankings, overtaking Australia in the latest rankings released by the world governing body for Cricket in Dubai