National News

Steel Minister Unveils India’s First Green Hydrogen Plant In Stainless Steel Sector

• Jyotiraditya M. Scindia, the Union Minister for Steel and Civil Aviation, virtually inaugurated India’s 1st Green Hydrogen Plant in the Stainless Steel Sector situated at Jindal Stainless Limited, Hisar, on 4th March 2024.
• This marks a significant milestone for the stainless steel industry, as it introduces the pioneering off-grid Green Hydrogen plant, a global first.
• Notably, this facility integrates rooftop and floating solar technology, setting a precedent in sustainable energy practices.
• The primary objective is to curtail carbon emissions by approximately 2,700 Metric Tonnes annually, aiming for a reduction of 54,000 tons of CO2 emissions over the ensuing two decades.

Union Minister Inaugurates Three CIPET Centers Across India

• Mansukh Mandaviya, the Union Minister of Chemicals and Fertilisers and Health and Family Welfare, virtually inaugurated three centers of the Central Institute of Petrochemicals Engineering & Technology (CIPET) from New Delhi. ‘
• These newly established centers, located in Himachal Pradesh, Jharkhand, and Madhya Pradesh, represent significant expansions to CIPET’s network.
• This initiative underscores the government’s commitment to bolstering the petrochemical industry by augmenting the number of CIPET centers from 23 to 47 over the past decade.

Geological Survey Of India Celebrates 174th Foundation Day

• The Geological Survey of India (GSI) commemorated its 174th Foundation Day on March 4th, 2024, with festivities resonating across all its offices nationwide.
• Noteworthy celebrations took place in Kolkata, the Central Headquarters of GSI, and Hyderabad, the Southern Region’s headquarters.
• This commemoration served as a testament to GSI’s enduring dedication to advancing geological knowledge and fostering a deeper connection with India’s geological heritage.

International News

Real-Life ‘Superheroes’ Fly In The World’s First Jet Suit Race

• Dubai recently hosted an extraordinary event—the city-state’s inaugural jet suit race. Organized by Gravity Industries in collaboration with the Dubai Sports Council, this groundbreaking competition featured pilots equipped with jet engines on their hands and backs, resembling real-life ‘Iron Men’.
• These jet suits, boasting an impressive 1,500 horsepower, showcased cutting-edge technology in action, surpassing the power of many luxury sports cars.
• Fueled by aviation fuel used by Dubai-based airline Emirates, including Airbus A380s and Boeing 777s, this event demonstrated the potential of jet suits in modern aviation.

France Pioneers Constitutional Protection For Abortion Rights

• France has made history by becoming the first nation globally to embed the right to abortion within its constitution.
• In a special joint session of the French parliament, a robust majority voted in favor of this constitutional amendment, with 780 votes cast in support and only 72 against.
• This landmark decision led to the inclusion of explicit language in Article 34 of the French Constitution, ensuring women’s freedom to choose abortion under the law, marking a significant step forward in reproductive rights.

State News

Uttar Pradesh Leads In Issuing 5 Crore Ayushman Cards Under Ayushman Bharat PMJAY

• Under the stewardship of Chief Minister Yogi Adityanath, Uttar Pradesh has achieved a remarkable feat, becoming the first state in India to distribute five crore Ayushman cards.
• This accomplishment reflects the state government's unwavering dedication to safeguarding the health and well-being of its citizens.
• To date, Uttar Pradesh has issued a staggering 50,017,920 Ayushman cards, extending benefits to 74,382,304 individuals.
• The state boasts 3,716 empaneled hospitals under the Ayushman Bharat Scheme, facilitating access to healthcare services. Additionally, the successful processing of 3,481,252 health claims, with a commendable settlement rate of 92.48%, underscores the efficacy of the initiative.

Economy News

February Sees Marginal Decline In UPI Transactions

• Following a record high in January, Unified Payment Interface (UPI) transactions in India witnessed a marginal dip in both value and volume during February.
• Factors contributing to this decline include technical glitches at several banks and the shorter duration of the month.
• Despite this, February's UPI transactions remained substantially higher, with a 61% increase in volume and a 48% surge in value compared to the same period in 2023.

Moody’s Upgrades India’s GDP Growth Forecast To 6.8% For 2024

• Moody’s, the renowned global credit rating agency, has revised its GDP forecast for India in 2024 to 6.8%, signaling a positive economic trajectory.
• This upward revision is underpinned by India's status as the fastest-growing economy among G20 nations, supported by robust growth prospects and policy continuity.
• The agency anticipates India's GDP momentum to persist in 2025, forecasting a growth rate of 6.4%.

Banking News

India-Nepal Financial Cooperation Strengthened, Digital Payment To Be Launched Soon

• In a significant development, India and Nepal have fortified their financial cooperation, particularly focusing on digital payments.
• This collaborative effort aims to streamline cross-border transactions and enhance convenience for citizens of both nations.
• Noteworthy changes include revised regulations allowing Nepal citizens to remit up to Rs 2 lakh per transaction to Nepal, with walk-in customers permitted to remit Rs 50,000 per transaction.

RBI Approval: Merger Of Fincare SFB With AU Small Finance Bank

• The Reserve Bank of India has greenlit the merger of Fincare Small Finance Bank Ltd. with AU Small Finance Bank, effective from April 1.
• This consolidation, sanctioned under Section 44A of the Banking Regulation Act, 1949, entails all branches of Fincare Small Finance Bank operating as branches of AU Small Finance Bank post-merger.
• The Competition Commission of India (CCI) has clarified that the merger involves Fincare and AU, with AU emerging as the surviving entity.
• Shareholders of Fincare will receive shares in the merged entity as part of the transition process.

Banking News

RBI Bans IIFL Finance From Giving Gold Loans: Reasons And Implications

• The Reserve Bank of India (RBI) has taken decisive action against IIFL Finance by immediately halting the approval and disbursement of gold loans.
• This move follows a thorough examination of the company's financial standing as of March 31, revealing significant regulatory concerns within its gold loan portfolio.
• The central bank identified substantial deviations in the assaying and certification of gold purity and net weight during loan approval and subsequent auctioning in the event of default.
• Additionally, breaches in Loan-to-Value (LTV) ratio regulations were noted, prompting the regulatory intervention.

Important Days News

International Day For Disarmament And Non-Proliferation Awareness 2024

• Disarmament, as defined by the United Nations General Assembly (UNGA), entails the elimination of Weapons of Mass Destruction (WMD) and a balanced reduction of armed forces and conventional armaments.
• The inaugural International Day for Disarmament and Non-Proliferation Awareness was observed on March 5, 2023, following a UNGA resolution adopted on December 7, 2022.
• This annual observance aims to raise public awareness, particularly among youth, regarding the significance of disarmament and non-proliferation efforts globally.

Dissociative Identity Disorder Awareness Day 2024: March 5th

• Dissociative Identity Disorder (DID), previously known as Multiple Personality Disorder, poses a complex mental health challenge for individuals affected by it and the professionals tasked with diagnosis and treatment.
• DID involves the coexistence of two or more distinct personality states, each exhibiting unique thoughts, emotions, and behaviors.
• Annually recognized on March 5th, Dissociative Identity Disorder Awareness Day, initiated in 2012 by the Ivory Garden, serves as an occasion to raise awareness about DID and provide support to those impacted by the disorder.

Schemes News

CM Yogi Rolls Out ‘MYUVA Scheme’ For Young Entrepreneurs In UP

• In Uttar Pradesh, Chief Minister Yogi Adityanath has introduced a supportive initiative for young entrepreneurs called the “Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA).”
• This scheme offers interest-free loans to aspiring young entrepreneurs for projects valued up to Rs 5 lakh, with the government aiming to nurture one lakh young entrepreneurs annually through this program.
• Additionally, the scheme promotes digital transactions in business operations and provides grants to incentivize the adoption of digital payment methods, fostering a conducive environment for entrepreneurial growth.

Brajesh Mehrotra Appointed As New Chief Secretary Of Bihar

• The Bihar government has announced the appointment of senior IAS officer Brajesh Mehrotra as the new chief secretary of the state.
• Currently serving as the additional chief secretary of revenue and land reforms, with additional responsibilities in general administration and parliamentary affairs, Mehrotra brings a wealth of experience and competence to his new role.
• Notably, he also holds the position of the state’s chief information commissioner, showcasing his versatility and dedication to public service.

Achievements News

Sub-Inspector Suman Kumari Makes History As BSF’s First Female Sniper

• Sub-Inspector Suman Kumari has scripted history by becoming the first woman sniper in the Border Security Force (BSF).
• Her attainment of the prestigious 'instructor grade' underscores her exceptional proficiency and expertise in the field.
• Following her successful completion of an intensive eight-week sniper course at the Central School of Weapons and Tactics (CSWT) in Indore, Suman not only demonstrates remarkable abilities but also exemplifies a pioneering spirit, breaking gender barriers in her profession.

Agreements News

REC Limited Partners With UNISED To Support Education Of Children In Siddharthnagar, Uttar Pradesh

• REC Limited has forged a partnership with the Unit of Science and Educational Development (UNISED) to enhance educational initiatives in Siddharthnagar district, Uttar Pradesh.
• Through its Corporate Social Responsibility arm, REC Foundation, REC has committed substantial financial assistance of Rs. 9.91 crores to support the education of approximately 75,500 children in the district.
• UNISED, renowned for its educational innovation nationwide, will spearhead the implementation of solar-powered smart classrooms and joyful learning labs, advancing educational infrastructure and opportunities in Siddharthnagar.

BIMSTEC Faculties Exchange Programme In Dhaka Aims To Boost Mutual Cooperation

• A five-day faculty exchange programme for foreign service academies within the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) member states has commenced in Dhaka, marking a significant milestone.
• This initiative seeks to foster dialogue and collaboration among diplomats from BIMSTEC member countries to devise strategies for enhancing mutual cooperation among the region’s Foreign Service training institutions.
• The programme underscores the commitment of BIMSTEC member states to strengthen diplomatic ties and promote collective prosperity.

Science & Technology News

India Introduces Chakshu: Report Fraud Calls & Texts Platform

• The Department of Telecommunications (DoT) has introduced the Digital Intelligence Platform (DIP) along with the 'Chakshu' facility on the Sanchar Saathi portal to combat telecom resource misuse in cyber-crime and financial frauds.
• 'Chakshu' empowers citizens to report suspected fraudulent communications received via calls, SMS, or WhatsApp, enhancing collaboration among stakeholders in combating telecom-related crimes. This citizen-centric initiative underscores India's commitment to leveraging technology for safeguarding digital ecosystems and promoting a secure telecommunications environment.

Three New Moons Discovered Orbiting Uranus And Neptune

• Astronomers affiliated with the International Astronomical Union have made a groundbreaking discovery of three new moons orbiting Uranus and Neptune, expanding our understanding of the outer reaches of the solar system.
• Detected through powerful land-based telescopes worldwide, these celestial bodies add to the known moon counts, with Uranus now totaling 28 moons and Neptune 16.
• Notably, among these discoveries, a small moon measuring just five miles in diameter orbits Uranus, highlighting the diverse sizes and orbital dynamics of these distant moons.