Current Affairs Today 15th March 2024 Daily GK Update

Daily Current Affairs 15th March 2024 Daily GK Update

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National News

Ministry of Defence approves three lakh vacancies to expand NCC

  • Defence Minister Rajnath Singh has approved a proposal for the expansion of the National Cadet Corps (NCC) with the addition of three lakh cadet vacancies.
  • This decision comes in response to the growing demand for NCC enrolment from educational institutions across India.
  • Since its inception in 1948 with just 20,000 cadets, the NCC will now have a sanctioned strength of 20 lakh cadets, solidifying its position as the world’s largest uniformed youth organization.
  • The expansion plan aims to evenly distribute vacancies across all States and Union Territories, reducing the waiting list of institutions seeking NCC affiliation.
  • It involves the establishment of four new Group Headquarters and the addition of two new NCC units.

Heavy Industries Ministry announces Electric Mobility Promotion Scheme 2024

  • The Heavy Industries Ministry has announced the Electric Mobility Promotion Scheme 2024 to accelerate the adoption of Electronic Vehicles (EVs) in India.
  • A total outlay of 500 crore rupees will be implemented for four months under the scheme. It will run from 1st of the next month until July.
  • Under the scheme, electric 2-wheelers will be provided a financial support measure of ₹10,000 per vehicle to support around 3.3 lakh 2-wheelers.
  • Similarly, ₹25,000 will be given for purchasing small three-wheelers, such as e-rickshaws and e-carts, with the objective to cover more than 31,000 such vehicles.
  • MHI is also offering a financial support of ₹50,000 on the purchase of a large category electric three-wheeler.
  • The Ministry also signed a MoU with the Indian Institute of Technology, Roorkee (IIT Roorkee) to work together to encourage innovation and advance the automotive and electric vehicle (EV) sector.
  • The MoU aims to foster collaboration between MHI and IIT Roorkee to establish a centre of excellence and an industry accelerator to drive innovation in the automotive and electric vehicle sectors.

PM Launched PM-SURAJ Portal

  • The Prime Minister has launched the PM-SURAJ portal ‘Pradhan Mantri Samajik Utthan and Rozgar Adharit Jankalyan’ national portal and also sanctioned credit support to one lakh entrepreneurs of disadvantaged sections.

About PM-SURAJ national portal

  • PM-SURAJ is a nationwide initiative aimed at uplifting and empowering the most marginalized or backward segments of society.
  • Through the PM-SURAJ national portal, credit support will be provided to eligible individuals across the country. This support will be facilitated through banks, NBFC-MFIs and other organizations.
  • Under the National Action for Mechanised Sanitation Ecosystem (NAMASTE) the Prime Minister also distributed Ayushman health cards and PPE kits to sewer and septic tank workers.
  • This initiative shows another step towards safeguarding and assuring the health and safety of frontline workers who work in challenging conditions.
  • It should be noted that the programme had the participation of about 300,000 beneficiaries from disadvantaged groups in over 500 districts across the country, who were part of various government schemes.

Maharashtra’s Ahmednagar to be renamed ‘Ahilyanagar’

  • The Maharashtra Cabinet has approved to rename Ahmednagar district as Ahilya Nagar after the 18th-century Maratha queen Ahilyabai Holkar.
  • The proposal to rename the city was first announced by Maharashtra chief minister Eknath Shinde in May last year on the 298th birth anniversary of the 18th-century queenAhilyabai Holkar.
  • Following the approval, Curry Road will be renamed Lalbaug, Sandhurst Road will now be known as Dongri, and Marine Lines will be renamed Mumbadevi.
  • Others including Cotton Green station will be renamed Kalachowki, Charni Road will be renamed Girgaon, Dockyard Road to Mazgaon, and King Circle will be renamed Tirthakar Parshivnath.
  • The Cabinet has also decided to rename Mumbai Central Station as Nana Jagannath Shankarsheth Station for which a proposal has been sent to the railways ministry.

About Maharashtra

  • Capital – Mumbai
  • Chief Minister – Eknath Sindhe
  • Deputy Chief Minister – Devendra Fadnavis & Ajit Pawar
  • Governor – Ramesh Bais

SC ordered Election Commission to Published Data on Electoral Bond

  • The Election Commission of India on its official website on March 14 published the electoral bonds data as ordered by the Supreme Court of India (SC).
  • The publication of the electoral bond data came almost a month after the Supreme Court struck down the 2018 scheme calling it “unconstitutional.”
  • In the data on electoral bonds, the only information available about donors is the name of their company or individual.
  • The SBI confirmed in an affidavit that 22,217 electoral bonds were purchased and 22,030 redeemed by political parties between April 1, 2019, and February 15, 2024.
  • The SBI shared two sets of data with the Election Commission. The first set includes the name of the purchaser of the electoral bond, date, and denomination. The second list lays out details of the political party and dates and denomination of bonds encashed.
  • The data reveals key details like the name of the electoral bond purchaser and the amount they donated through the bond. It pertains to the purchase of electoral bonds in the denomination of ₹1 lakh, ₹10 lakh and ₹1 crore.
  • The donors include a range of companies like Megha Engineering and Infrastructure, Future Gaming and Hotel Services (Lottery Martin), Sun Pharma, Lakshmi Mittal, Sula Wine, DLF Commercial Developers, etc.
  • The list mentions almost all major political parties in India as receivers of the electoral bonds including BJP, Congress, AITMC, BRS, AIDMK, TDP, YSR Congress, AAP, SP, JD(U) etc.
  • According to the data released by the ECI, the Bharatiya Janata Party (BJP) encashed electoral bonds worth a staggering ₹6,060.5 crore between April 12, 2019, and January 24, 2024.
  • This amount accounts for a whopping 47.5% of the total electoral bonds encashed during this period, making the BJP the largest recipient by a significant margin.
  • Following the BJP, the All-India Trinamool Congress (AITC) received ₹1,609.5 crore (12.6% of the total), while the Indian National Congress (INC) received ₹1,421.9 crore (11.1%), securing the second and third positions, respectively.

Who are the biggest donors?

  • In the data released, there are 1,260 companies and individuals that purchased electoral bonds worth ₹12,769 crore. The top 20, all companies, accounted for ₹5,945 crore—or nearly half of the total amount donated through electoral bonds.

Who are the biggest individual donors?

  • Ms SN Mohanty is the biggest individual donor in the list with total donations of ₹45 crore. She is followed by Lakshmi Niwas Mitttal who donated ₹35 crore. Here is the list of top ten individual donors.

About the Electoral Bond Scheme

  • The Electoral Bonds Scheme was made in 2017 and implemented in 2018. It allows individuals and groups to give money to registered political parties without disclosing their identities. This maintains donor anonymity.
  • Only political parties registered under Section 29A of the Representation of the People Act, 1951, who got at least 1% of valid votes in the previous elections of the Lok Sabha or a state legislative assembly can get electoral bonds.
  • The Electoral Bonds are Promissory Notes that don’t have the names of the buyer or payee. They come in five denominations: Rs. 1,000, Rs. 10,000, Rs. 1,00,000, Rs. 10,00,000, and Rs. 1,00,00,000.
  • The Electoral Bond is valid for 15 days from the date of issuance. If it’s deposited at the bank after the validity period, no payment will be made to any payee Political Party.
  • The issuing branch will give the Electoral Bonds if all the requirements are met. The information the purchaser provides will be confidentially treated by the State Bank of India and will not be disclosed to any authority except under court order or criminal investigation asked about information.
  • The Electoral Bonds can be bought for ten days each quarter, as advised by the GOI. The GOI will specify an additional period of thirty days in the year of General Elections to the House of People.

International News

UK tests a laser weapon that can hit a coin from a kilometer

  • The UK’s Ministry of Defence (MoD) has conducted successful tests of its first-ever laser weapon, named “DragonFire”.
  • The high-powered laser is designed to target and neutralize drones, offering a potentially low-cost alternative to traditional missiles.
  • The DragonFire laser weapon is expected to significantly reduce the reliance on expensive ammunition, offering a cost-effective solution for air defense.
  • According to the UK government, firing the laser for just 10 seconds costs the equivalent of using a heater for an hour, typically less than £10 per shot. This cost efficiency makes it a promising option for military operations.

Banking and Financial

Max India’s subsidiary partners with IIT Delhi for senior citizen care

  • Max India Ltd, an integrated service provider for senior care needs, entered into a Memorandum of Understanding (MoU) with the Indian Institute of Technology Delhi (IIT Delhi).
  • This partnership aims to develop offerings tailored specifically for the senior demographic.
  • Max India Ltd is the wholly owned subsidiary of Antara Assisted Care Services Limited.
  • The company reported, in response to India’s growing elderly population and the accompanying challenges of mobility-related disabilities, the company with IIT Delhi will conduct research and design solutions aimed at enhancing the quality of life for seniors.
  • The collaboration will span various projects, including the development of mobility-assisting products and cognitive enhancement games to combat age-related issues like Dementia.

RBI bars Federal Bank, South Indian Bank from issuing co-branded credit cards

  • Following the directions by the Reserve Bank of India (RBI), private sector lenders Federal Bank and South Indian Bank stopped issuing co-branded credit cards to new customers on account of regulatory deficiencies.
  • South Indian Bank said that it will not onboard new customers on their co-branded credit cards until it is fully compliant with directions under RBI Master Direction on Credit Card and Debit Card issuance.
  • However, the lender added that it will continue to service the existing customers who hold co-branded credit cards.
  • South Indian Bank has one co-branded credit card in partnership with State Bank of India (SBI), which is available in two variants SimplySAVE and Platinum.

RBI imposes ₹1.40 cr monetary penalty on Bank of India

  • The Reserve Bank of India (RBI) has imposed a penalty of Rs 1.4 crore on Bank of India for non-compliance with certain regulatory norms.
  • It has also imposed a penalty of Rs 29.55 lakh on private sector lender Bandhan Bank for non-compliance with certain directions.
  • The penalty on Bank of India has been imposed for non-compliance with the RBI’s directions related to ‘interest rate on deposits’, ‘customer service in banks’, ‘interest rate on advances’, and contravention of provisions of Credit lnformation Companies Rules 2006.
  • The RBI said statutory inspection for supervisory evaluation of the bank was conducted by it with reference to its financial position as on March 31, 2021 and March 31, 2022.

India’s WPI inflation eases to four-month low of 0.20 per cent in Feb

  • Data released by the Ministry of Commerce & Industry showed that India’s wholesale price inflation eased further to a four-month low of 0.20 per cent in February on an annual basis, as against 0.27 per cent in January.
  • The sequential WPI rate for February grew 0.07 per cent against a contraction of (-)0.33 per cent in the month before.
  • Inflation for food articles stood at 6.95 per cent in February. For the primary articles segment, the inflation rate in February surged to 4.49 per cent from 3.84 per cent in the preceding month.
  • Wholesale inflation in crude petroleum and natural gas grew 8.24 per cent in February. The fuel and power inflation witnessed a contraction of (-) 1.59 per cent in February against a contraction of (-)0.51 per cent in January.
  • Earlier this week, India’s retail inflation data was released which showed that it has eased to 5.09 per cent on an annual basis as against 5.10 per cent in January, data released by the Ministry of Statistics & Programme Implementation showed.

Recent WPI-based Wholesale inflation in India

  • October 2023 – (-) 0.26%
  • November 2023 – 39%
  • December 2023 –86%
  • January 2024 – 0.27%
  • February 2024 – 0.20%

Awards

24 writers honoured with Sahitya Akademi Award for 2023

  • Twenty-four writers has received the Sahitya Akademi Award for 2023.
  • The award ceremony coincided with the 70th anniversary celebrations of the National Academy of Letters at the Sahityotsav.
  • The awards were given for literary works including nine books of poetry, six novels, five of short stories, three essays, and one literary study.
  • Sanjeev for his novel “Mujhe Pehchaano” and Gaur for her book “Requiem in Raga Janki” received the prestigious award.
  • Sadiqua Nawab Saher received the award for her book “Rajdev Ki Amrai” in Urdu, while Swarnjit Savi was awarded for his book of poetry “Mann Di Chip” in Punjabi.
  • Other recipients of the awards in poetry include Vijay Verma (Dogri), Vinod Joshi (Gujarati), Manshoor Banihali (Kashmiri), Sorokkhaibam Gambhini (Manipuri), Ashutosh Parida (Odia), Gaje Singh Rajpurohit (Rajasthani), Arun Ranjan Mishra (Sanskrit) and Vinod Asudani (Sindhi).
  • Apart from Gaur, Sanjeev and Saher, writers such as Swapnamay Chakrabarti (Bengali), Krushnat Khot (Marathi), and Rajasekaran Devibharathi (Tamil) have been awarded for their novels.
  • For short stories, Pranavjyoti Deka (Assamese), Nandeswar Daiman (Bodo), Prakash S Parienkar (Konkani), Taraceen Baskey (Turia Chand Baskey) (Santali) and T Patanjali Sastry (Telugu) got the award.
  • Lakshmisha Tolpadi (Kannada), Basukinath Jha (Maithili) and Judhabir Rana (Nepali) received the prize for their essays, while EV Ramakrishnan was awarded for his literary study in Malayalam.

Sports

Rachin Ravindra becomes youngest cricketer to win Sir Richard Hadlee Medal

  • New Zealand’s top order batter Rachin Ravindra has become the youngest recipient of the Sir Richard Hadlee Medal after being named the country’s outstanding male cricketer of the year.
  • Meanwhile, Amelia Kerr became the year’s top female cricketer after winning the Debbie Hockley medal for the second time in a row.
  • Kane Williamson received the ANZ Test Player of the Year Award and won the Redpath Cup for men’s first-class batting.
  • Ravindra, 24, is the youngest winner of the award in its history, following a season in which he has established himself as a key member of New Zealand’s red and white teams.
  • Daryl Mitchell and Mitchell Santner were named as the ODI and T20I Player of the Year, respectively. In the women’s category, Amelia Kerr clean-sweeped all the awards, becoming the ODI and T20I Player of the Year.

Important day

15 March – Pi Day

  • Every year, Pi Day is observed to commemorate the constant value of Pi and how it simplifies calculations for us.
  • Pi is an important symbol in Mathematics, Statistics and Physics. It is the ratio of the circumference of the circle to the diameter.
  • The ratio is a constant of 3.14 PI. In most calculations in Mathematics, Physics and Statistics, the value of Pi plays a significant role.
  • Pi is one of the most widely known mathematical constants that is applied in calculations inside and outside of science.
  • The constant value of Pi was first calculated by Mathematician Archimedes of Syracuse. In 1737, Leonhard Euler used the symbol of Pi, and hence it got accepted in the scientific community.
  • In the year 1988, American physicist Larry Shaw celebrated the first Pi Day. Incidentally, Pi Day is observed on the birth anniversary of renowned Physicist Albert Einstein.

 

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