National News

Nagaland Assembly Adopts Resolution On FMR; Asks Centre To Reconsider Decision

• In a significant move, the Nagaland legislative assembly has unanimously passed a resolution urging the central government to reconsider its decision regarding the Indo-Myanmar border and the suspension of the Free Movement Regime (FMR) agreement with Myanmar.
• The resolution highlights the concerns of the Naga people, emphasizing the potential disruption of historical, social, tribal, and economic ties due to these measures.
• Notably, the suspension of the FMR, which previously allowed border residents to travel 16 kilometers into each other's territory without visas, is underlined as having adverse impacts.

Central Electricity Authority To Recognize Frontline Power Sector Heroes

• On a different note, the Central Electricity Authority (CEA), under the Ministry of Power, is gearing up to host the fourth edition of ‘Lineman Diwas’ in New Delhi on March 4, 2024.
• This annual event aims to honor the tireless dedication and service of linemen and ground maintenance staff, who are integral to ensuring uninterrupted electricity distribution across India.
• Collaborating with Tata Power Delhi Distribution Ltd (Tata Power-DDL), this year's celebration carries the theme ‘Seva, Suraksha, Swabhiman,’ paying tribute to the selfless service of linemen nationwide.

State News

PM Dedicates HURL Sindri Fertiliser Plant To The Nation

• Turning to state developments, Prime Minister Modi recently inaugurated the Hindustan Urvarak & Rasayan Ltd (HURL) Sindri Fertiliser Plant in Sindri, Dhanbad, Jharkhand.
• This plant, a collaborative effort between various PSUs including NTPC, IOCL, CIL, and FCIL/HFCL, symbolizes a synergy aimed at fostering economic growth and self-sufficiency.
• The establishment of the state-of-the-art gas-based Sindri Plant, with a significant investment of Rs. 8939.25 Crore, underscores the importance of strategic partnerships and investments in realizing national objectives.

Dharmendra Pradhan Launches Project ODISERV For Odisha’s Graduates

• Furthermore, Shri Dharmendra Pradhan inaugurated Project ODISERV in Sambalpur, Odisha, marking a significant step towards preparing young graduates for employment opportunities in the financial services sector.
• This collaboration between the National Skill Development Corporation (NSDC) and Bajaj Finserv aims to revolutionize skill development in Odisha and beyond.
• The 100-hour training program under Project ODISERV aims to equip Odisha’s youth with essential skills for the banking, finance, and insurance industries.

PM Modi Inaugurates Rs 7,200 Crore Projects In West Bengal

• Moreover, Prime Minister Modi dedicated to the nation and laid the foundation stone for multiple development projects worth Rs 7,200 crore in Arambagh, Hooghly, West Bengal.
• These projects, spanning sectors like rail, ports, oil pipeline, LPG supply, and wastewater treatment, prioritize infrastructure, environmental sustainability, and empowerment, aiming for enhanced economic growth and an improved quality of life for the citizens.

21-Ft Maharana Pratap Statue Unveiled In Hyderabad

• Hyderabad witnessed a historic moment with the unveiling of a towering 21-feet statue of Maharana Pratap at the Begum Bazar Maharana Pratap Chowk.
• This monumental statue, the largest of its kind in the city, stands as a testament to the enduring legacy of the revered Rajput warrior.
• Crafted with meticulous detail over a span of three months by artist Sunder Singh, this majestic statue weighing two tonnes encapsulates Maharana Pratap's spirit, ensuring his legacy resonates for generations to come.

Defence News

Exercise Samudra Laksamana: Strengthening Indo-Malaysian Maritime Cooperation

• Exercise Samudra Laksamana, a significant bilateral maritime endeavor between India and Malaysia, commenced on February 28 and is set to conclude on March 2, 2024, off the coast of Visakhapatnam.
• This collaborative effort, now in its third edition, features the Indian Naval Ship Kiltan and the Royal Malaysian Ship KD Lekir.
• The primary objective of Exercise Samudra Laksamana is to enhance the bonds of friendship and cooperation between the naval forces of both nations.

Economy News

India’s GST Collection Surges 12.5% To Rs 1.68 Lakh Crore In February 2024

• India's Goods and Services Tax (GST) collection surged impressively by 12.5% year-on-year, reaching Rs 1.68 lakh crore in February 2024, according to government reports.

• This growth represents a significant increase compared to the corresponding period in the previous year, indicating robust growth in tax revenues
• The finance ministry underscored that the average monthly gross collection for the fiscal year 2023/24 stands at Rs 1.67 lakh crore, surpassing the previous year's figures.

9.India’s Manufacturing PMI Hits 5-Month High Reaching 56.9 In February

• India's manufacturing sector continued its expansion in February, with the HSBC Purchasing Managers’ Index (PMI) reaching a five-month high of 56.9.
• This marks the 32nd consecutive month of expansion for the sector, remaining comfortably above the critical threshold of 50, which separates growth from contraction.
• The release of the manufacturing PMI closely follows the announcement by the statistics ministry regarding India’s GDP growth of 8.4 percent in the October-December 2023 period.

India’s Forex Reserves Surge To $619 Billion

• India's forex reserves witnessed a notable surge, increasing by $2.975 billion to reach $619.072 billion for the week ending February 23, as per reports from the Reserve Bank of India (RBI).
• Foreign Currency Assets, including currencies such as the euro, pound, and yen, rose by $2.405 billion to $548.188 billion, reflecting their valuation against the US dollar.
• This surge marks another milestone in India's economic landscape, following the record high of $645 billion in forex reserves achieved in October 2021.

Banking News

RBI Appoints S. Ravindran As Part-Time Chairman Of Tamilnad Mercantile Bank

• In a notable development, the Reserve Bank of India (RBI) has appointed S. Ravindran as the part-time chairman of Tamilnad Mercantile Bank Ltd. (TMB).
• This appointment, effective from February 29 and extending till August 2, 2026, marks a significant shift in the bank's leadership amidst the dynamic landscape of the financial sector.
• Prior to his tenure at TMB, Mr. Ravindran has resigned from his directorship positions at Shriram Finance and Bandhan AMC, as stipulated by the RBI, to mitigate potential conflicts of interest.

Financial Intelligence Unit Imposes ₹5.49 Crore Fine On Paytm Payments Bank

• The Financial Intelligence Unit-India (FIU-IND) has imposed a penalty of ₹5.49 crore on Paytm Payments Bank Ltd for violations of the Prevention of Money Laundering Act.
• This action follows a review initiated by FIU-IND based on specific information from law enforcement agencies regarding illicit activities.
• The penalties are attributed to the bank's involvement in facilitating illegal activities, such as online gambling, and mismanagement of funds associated with such operations.

Agreements News

C-DOT And Qualcomm Sign MoU To Boost Make In India Vision

• At the Mobile World Congress 2024, the Centre for Development of Telematics (C-DOT) and Qualcomm Technologies have signed a memorandum of understanding (MoU) to advance the Atmanirbhar Bharat initiative and foster innovation in India's telecom sector.
• This collaboration aims to accelerate the development of indigenous telecom products in alignment with the Make in India vision.
• Additionally, the collaboration seeks to provide access to foundational chip technologies for startups, original equipment manufacturers (OEMs), and academic institutions.

Google Partners With Shakti To Combat Online Misinformation And Deepfakes

• Google has announced its partnership with Shakti, a consortium of news publishers and fact-checkers, to combat online misinformation, including deepfakes.
• This initiative focuses on early detection of online misinformation and establishing a centralized repository for news publishers to effectively address such challenges.
• Shakti aims to create a collaborative platform for independent fact-checkers and Indian language publishers to counter the spread of false information online.

Appointments News

Anurag Agarwal Appointed As Head Of Parliament Security

• In a move to enhance the security of India's parliamentary complex, IPS officer Anurag Agarwal has been appointed as the new head of Parliament security.
• Anurag Agarwal, a seasoned officer from the 1998 batch of the Assam-Meghalaya cadre, brings extensive experience in law enforcement and internal security to his new role as the joint secretary (security) of the Parliament House complex.
• His appointment underscores the commitment to ensuring the safety and integrity of India's parliamentary proceedings.

Important Days News

World Wildlife Day 2024

• World Wildlife Day, celebrated annually on March 3, emphasizes the crucial need to safeguard the planet's biodiversity.
• In 2024, the focus is on the intersection of digital innovation and wildlife conservation, with the theme "Connecting People and Planet: Exploring Digital Innovation in Wildlife Conservation."
• This day originated from a proposal by Thailand to the United Nations General Assembly in 2013, highlighting global efforts to protect flora and fauna.

Books & Authors News

Odisha CM Naveen Patnaik Releases Book Titled ‘FIH Odisha Hockey Men’s World Cup 2023’

• In a tribute to sports and culture, Odisha Chief Minister Naveen Patnaik unveiled the book 'FIH Odisha Hockey Men’s World Cup 2023'.
• Published by Sportstar, The Hindu Group's esteemed sports magazine, the book captures the essence and excitement of the 15th FIH Odisha Hockey Men’s World Cup.

• The tournament held in 2023 was a significant event for Odisha, hosting matches in Bhubaneswar and Rourkela.

Science & Technology News

L&T Commissions First Indigenously Manufactured Hydrogen Electrolyser At Hazira

• Larsen & Toubro (L&T) achieved a significant milestone in clean energy by commissioning its first domestically manufactured electrolyser at the Green Hydrogen Plant in Hazira, Gujarat.
• This marks the entry of L&T Electrolysers Limited into domestic electrolyser manufacturing, showcasing the company’s commitment to sustainable energy solutions.
• With a robust power capacity of 1 MW and the potential for expansion up to 2 MW, this electrolyser is a pivotal step towards advancing green hydrogen technology.

Indian Scientists Create Eco Wound Dressings With Banana Fibers

• Indian scientists at the Institute of Advanced Study in Science and Technology (IASST) have developed eco-friendly wound dressings using banana fibers.
• Led by Prof. Devasish Chowdhury and Prof. (Retd) Rajlakshmi Devi, the team repurposed banana pseudo stems into wound dressing material.
• By blending banana fibers with chitosan and guar gum, they created antioxidant-rich patches, offering sustainable solutions for wound care.
• This innovative approach underscores the potential of utilizing agricultural waste for eco-friendly applications.

Obituaries News

Veteran Congress Leader And Former UP Governor Aziz Qureshi Passes Away

• The Indian political arena mourns the demise of Aziz Qureshi, a veteran Congress leader and former Governor of Uttar Pradesh, who passed away at the age of 83.
• Born on April 24, 1941, in Bhopal, Qureshi dedicated his life to public service, making significant contributions to Indian politics and governance. His illustrious career, which began with his election as an MLA from the Sehore seat in Madhya Pradesh in 1972, spanned several decades, leaving a lasting impact on Indian politics.