Daily Current Affairs 3rd & 4th March, 2024
Daily Current Affairs 3 & 4 March 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
Ashwini Vaishnaw releases postage stamp to celebrate AIRF’s 100 years of legacy
Railway Minister Ashwini Vaishnaw released a commemorative postage stamp to celebrate the centenary of the All India Railwaymen’s Federation (AIRF), one of the largest and oldest trade unions of railway workers. The AIRF was established on April 24, 1924. 
- Meanwhile, AIRF general secretary Shiva Gopal Mishra said that all office-bearers and over 5,000 workers gathered at the Karnail Singh railway stadium in Delhi to honor our illustrious history and the leaders who made significant sacrifices to protect the rights of workers.
- The unveiling of the postal stamp showcased the enduring legacy and invaluable contributions of the All India Railwaymen’s Federation to India’s railway system. It stands as a poignant reminder of the AIRF’s century-long commitment to championing the rights and well-being of railway employees across India.
Govt permits planting of trees on degraded land parcels for credits
In a move to incentivise environmental action and bolster forest restoration efforts, the Ministry of Environment, Forest and Climate Change (MoEFCC) has amended the green credit Rules.
- The amendment, which was published recently, introduces explicit criteria for land eligibility, outlines application procedures, and introduces a standardised methodology for calculating green credits generated through tree plantation activities.
- A green credit is a unit of incentive awarded for carrying out actions that have a positive environmental impact. It works like a reward point for activities such as tree planting, water conservation, sustainable agriculture, or pollution reduction.
- The minimum land size for such projects is set at 5 hectares.
DPIIT and World Bank jointly organise National Workshop on Logistics Efficiency Enhancement
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry in collaboration with the World Bank Group organised a National Workshop on Logistics Efficiency Enhancement in New Delhi that brought together the logistics sector community to brainstorm and identify factors affecting logistics performance and areas of improvement.
- The workshop was divided into three sessions. Session I covered discussions on the approach and methodology adopted in the calculation of the Logistics Performance Index (LPI) by the World Bank.
- Session II discussed the corridor approach including Bharatmala and Sagarmala Corridors which is enhancing logistics efficiency, bringing down logistics costs, and increasing first and last mile connectivity.
- During session III, officials from States shared best practices, reforms, and digital initiatives undertaken to improve logistics efficiency. They further highlighted the challenges faced by States in achieving goals outlined in their state logistics policies and key areas where support by the Central Government, private sector, and other stakeholders are needed.
President of India graces golden jubilee Celebrations of Brahma Kumaris, Odisha
The President of India, Smt Droupadi Murmu graced the golden jubilee celebration of Brahma Kumaris, Odisha at Cuttack, marking a significant milestone for the spiritual organization.
- Brahma Kumaris are also spreading eternal Indian values like non-violence, peace, harmony, brotherhood, and tolerance in India and abroad.
Govt launches Bharat Startup Ecosystem Registry to create comprehensive database
The government said it has launched a platform, Bharat Startup Ecosystem Registry, to create a comprehensive database with details about all the startup ecosystem stakeholders under one roof across different categories. 
- Commerce and Industry Minister Piyush Goyal became the first person to register on the platform, signifying the government’s commitment to nurturing India’s burgeoning startup ecosystem.
- The Registry will act as a one-stop database with details on all startup ecosystem stakeholders under one roof across different categories. It is envisaged that the registry will facilitate easy access and discovery, fostering collaboration and growth within the ecosystem.
- Each registered user will receive a unique ID and access a personalised dashboard to connect with relevant stakeholders and access resources.
PM Modi Releases 16th Installment of PM Kisan Scheme Worth ₹21,000 Crore in Maharashtra
Prime minister Narendra Modi released the 16th installment of the Pradhan Mantri Kisan Samman- Nidhi (PM-KISAN) scheme worth ₹21,000 crore to over nine crore beneficiary farmers from Maharashtra’s Yavatmal. The amount was transferred to the beneficiary’s bank account through DBT.
- Under the PM Kisan Samman Nidhi, more than ₹3 lakh crore has been deposited in the accounts of 11 crore farmers across the country. The farmers have received ₹30,000 crore, of which ₹900 crore has been wired directly to the accounts of farmers in Yavatmal.
- Meanwhile, all the beneficiaries are required to complete their account eKYC compliance to get the installment. OTP Based eKYC is available on PMKISAN Portal or the nearest CSC centres may be contacted for Biometric-based eKYC.
- Under PM-KISAN, the government provides income support of ₹6,000 a year to farmers with a valid enrolment, paid in three equal cash transfers of ₹2,000 — one every four months. It was launched on 24 February 2019, when the first instalment was paid. The PM-KISAN funds are deposited directly to the beneficiaries’ bank accounts.
Centre signs agreement with Tripura govt, TIPRA Motha party and other stakeholders to amicably resolve all issues of indigenous people of Tripura
A tripartite agreement was signed between the Centre, the State government of Tripura and the Indigenous Progressive Regional Alliance, popularly known as Tipra Motha and other stakeholders, in New Delhi. 
- Under the pact, it was agreed to amicably resolve all issues of indigenous people of Tripura relating to history, land and political rights, economic development, identity, culture and language.
- It was agreed to constitute a Joint Working Group to work out and implement the mutually agreed points in a time-bound manner to ensure an honourable solution. In order to maintain a conducive atmosphere for implementation of the pact, all stakeholders shall refrain from resorting to any form of protest.
Home Minister Amit Shah launches National Urban Co-operative Finance and Development Corporation Limited in New Delhi
Union Cooperation Minister Amit Shah launched the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC), the Umbrella organisation for the Urban Cooperative Banks in New Delhi. 
- This initiative aims to modernize and strengthen the Urban Cooperative Banking Sector, which will benefit both the banks and their customers.
- As per the Ministry, NUCFDC has received a Certificate of Registration from the Reserve Bank of India to operate as a Non-Banking Finance Company and serve as the umbrella organisation for the urban cooperative banking sector.
- NUCFDC aims to ensure specialized functions and services to cooperative banks, facilitate communication between banks and regulators, and address challenges faced by Urban Cooperative Banks.
MSME Minister Narayan Rane launches multiple women-oriented Entrepreneurial projects
Micro, Small, and Medium Enterprises (MSME) Minister, Narayan Rane launched multiple women-oriented Entrepreneurial projects at the 9th SHAKTI International Women Entrepreneurs Summit in New Delhi. 
- During this program focused on women entrepreneurship, women entrepreneurs who were beneficiaries of the CGTMSE scheme as well as better performing women entrepreneurs were honored.
- The Shakti International Women Entrepreneurs Summit 2024 is an annual Conference on the occasion of International Women’s Day to promote entrepreneurship amongst women.
Mr. Rane launched the Panjikaran se, Pragati, Unnati – Udyamita se Pragati, and WEP Mentorship Program.
1) Launch of a joint integrated national campaign by Ministry of MSME and Women Entrepreneurship Platform (WEP) ‘ Panjikaran Se Pragati.’ This national campaign is a clarion call to women entrepreneurs across the nation to get Udyam registered and unlock a world of opportunities.
2) Joint program of the Ministry of MSME and the Women’s Entrepreneurship Platform (WEP) ‘WEP Unnati _ Udyamita se Pragati tak.’ This MSME – WEP Award-to-Reward (ATR) programme is a ground-breaking initiative to take Women MSME’s to the next level of growth by providing comprehensive capacity building support through WEP.
3) The ‘mentorship platform’ of Women Entrepreneurship Platform (WEP)
Alliance for Global Good – Gender Equity and Equality: Logo & Website launched
Taking forward the objective of pursuing global gender equity, the logo and the website of the Alliance for Global Good: Gender Equity and Equality was launched.
- The Alliance aims to bring together global good practices, knowledge sharing, and investments in the field of women’s health, education, and enterprise and aligns with several Sustainable Development Goals (SDGs) including SDG 3 – Good Health and Well-Being; 4- Quality Education; 5 – Gender Equality and Empowerment; 17 – Global Partnership for Development and more, said a release by CII.
- It is supported by the Bill & Melinda Gates Foundation and anchored by the CII Centre for Women Leadership with the World Economic Forum as a ‘Network Partner’ and Invest India as an ‘Institutional Partner’.
Telangana State government rejoin the Pradhan Mantri Fasal Bima Yojana scheme
Telangana State government will rejoin the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme in the interests of farmers and to save them from losses caused by natural calamities. 
- Announcing this, Chief Minister A Revanth Reddy asserted the state government’s main objective was to strengthen the agriculture sector by supporting the farmers.
- The chief minister and Union government officials discussed the implementation of the farmer insurance scheme in Telangana from 2016 to 2020. Post 2020, the BRS government had opted out of PMFBY.
- Ritesh Chauhan said that the farmers would benefit from the insurance scheme and timely compensation would be provided in case of crop loss.
Chapchar Kut festival celebrated across Mizoram with traditional fervour
Chapchar Kut – the biggest festival of Mizoram was celebrated across the state with full traditional fervor and festivities on March 1,2024.
- The festival has attractedq thousands of people who thronged the Assam Rifles Ground – Lammual – in the heart of Aizawl city with full capacity. Showcasing of traditional and cultural riches of the Mizo community, punctuated by songs and performances of cultural dances marked the day-long celebration.
- In the olden days, it was celebrated for days and weeks. But in modern times, the celebration has been shortened to a day or two. In recent times, the festival is celebrated on the first Friday of March every year. Chapchar Kut is being celebrated to thank God after completion of their most arduous task of jhum operation – jungle clearing (clearing of the remnants of burning) at the beginning of a year.
INTERNATIONAL NEWS
Samudra Laksamana, India-Malaysia Joint Maritime Exercise
Indian and Malaysian navy ships are currently conducting joint exercise ‘Samudra Laksamana’ at or off the coast of Visakhapatnam. The exercise aims to strengthen bonds and enhance interoperability between the Indian and the Royal Malaysian Navy.
- This collaborative effort involves the participation of Indian Naval Ship Kiltan and the Royal Malaysian Ship KD Lekir, marking the third edition of the exercise.
- The exercise is aimed at harbouring professional interactions between the two navies followed by the operational phase at sea, according to a statement by the Ministry of Defence.
- During the sea phase, both the participants would be jointly honing skills while conducting various operations at sea.
3-Day International Gita Mahotsav Begins In Sri Lanka
The maiden three-day International Gita Mahotsav commenced in Sri Lanka March 1 at the Nelum Pokuna theater in capital Colombo. 
- The International Gita Mahotsav is being held for the first time in Sri Lanka. The festival will also have an International Gita Discourse.
- Notably, the festival features competitions of Rangoli and Art in addition to several cultural performances. On the occasion, an exhibition, craft bazaar and book fair are also reportedly organised.
- The Haryana government and Kurukshetra Development Board have played an important role in organizing the maiden festival in Sri Lanka.
BANKING & FINANCE
ADB Sells $3.5 Billion 5-Year Global Benchmark Bond
The Asian Development Bank (ADB) made a significant financial move by pricing a USD 3.5 billion 5-year global bond, aimed at bolstering its ordinary capital resources and advancing its mission across the Asia-Pacific region. ADB said it plans to raise around $23 billion from the capital markets this year.
- The five-year bond, with a coupon rate of 2.625 percent per annum payable semi-annually and a maturity date of 30 January 2024, was priced at 99.498 percent to yield 14.9 basis points over the 2.625 percent US Treasury notes due December 2023, the bank said.
- According to ADB, over 80 investors took part in the issuance, with most or 44 percent of the bonds placed in Asia. Forty-one percent was placed in Europe, Middle East, and Africa, and 15 percent in the Americas.
- In terms of investor type, 54 percent of the bonds went to central banks and official institutions, 36 percent to banks, and 10 percent to fund managers and other types of investors.
BUSINESS & ECONOMY
Coal India Limited Signs MoU with Indian Institute of Managements (IIM) to boost PM’s mission Gati Shakti
The Coal India Limited entered into a Memorandum of Understanding (MoU) with Indian Institute of Managements (IIM) Mumbai and Sambalpur, marking a crucial step in multimodal connectivity infrastructure for coal transportation in alignment with the PM Gati Shakti National Master Plan 2021.
- The collaboration, through a Memorandum of Understanding (MoU) signed between the two IIMs and Coal India, brings together industry expertise and academic excellence, promising a transformative leap in logistic efficiency, contributing to economic growth and environmental sustainability.
- Under this initiative, a one-year PGP-Ex programme in “Logistics and Operations Excellence through Digitisation” is to be conducted for the Executives of Coal India, serving in MCL and other subsidiaries.
Union Government releases another additional installment of tax devolution of Rs. 1,42,122 crore to strengthen hands of State Governments for financing various social welfare measures and infrastructure development schemes
The Union Government has authorised the release of two installments of tax devolution amounting to Rs. 1.42 lakh crore to strengthen the hands of State Governments for financing various social welfare measures and infrastructure development schemes.
- This release is in addition to the tax devolution of an instalment of Rs. 71,061 crore already made on 12 February 2024. With this release, States have received total of three installments of tax devolution in February 2024.
SPORTS
Turkish Women’s Cup: India finishes as runners-up
India lost 1-0 to Kosovo in their final match of the Turkish Women’s Cup 2024 football tournament at the Gold City Sports Complex in Alanya, Turkey. India had earlier beaten Estonia 4-3 before edging out Hong Kong China 2-0.
- Needing a victory in the game to win its first-ever senior title outside the SAFF region, the Indian women’s football team put on a valiant effort before succumbing to an injury time goal from Ereleta Memeti.
- Kosovo, with three victories and nine points, won the four-national invitational football tournament while India finished runners-up with six points, logging their best performance in three appearances at the competition.
APPOINTMENTS
RBI re-appoints Ajay Kanwal as MD & CEO at Jana Small Finance Bank
Jana Small Finance Bank has got approval from the Reserve Bank of India to re-appoint Ajay Kanwal as its managing director and chief executive officer for three years from March 21, 2024. His tenure will be till March 20, 2027.
- Janalakshmi Financial Services became Jana Small Finance Bank in March 2018. Kanwal has more than 33 years of experience in financial services and has held various leadership positions in his banking career.
- He has launched several strategic growth initiatives while building and managing diverse teams “across geographies”.
AWARDS
12 distinctive products of Arunachal obtain GI tags
Twelve distinctive products from Arunachal Pradesh have obtained the Geographical Indication (GI) tags with the support of National Bank for Agriculture and Rural Development (NABARD), an official said . 
- The products are Apatani, Monpa, Adi, Galo, Tai Khamti and Nyishi textiles, Monpa handmade paper, Singpho Phalap (Singpho tea), Adi Apong, Dao (machete), Angnyat millet and Marua Apo (Marua millet beverage).
- The official said the achievement stands testament to the dedication of the local communities to preserving traditional and unique products, reflecting the rich social and cultural heritage of Arunachal Pradesh.
SCIENCE & TECHNOLOGY
DRDO completes flight tests of Very Short-Range Air Defence System
The Defence Research and Development Organisation (DRDO) successfully conducted two flight tests of Very Short-Range Air Defence System (VSHORADS) missile from Integrated Test Range off Odisha’s Chandipur on February 28 and 29.
- The VSHORADS is propelled by a dual thrust solid motor and would be used for neutralising low altitude aerial threats at short ranges.
- The VSHORADS is a Man Portable Air Defence System (MANPAD) indigenously developed by Research Centre Imarat (RCI) in collaboration with other DRDO laboratories and other industry partners, the ministry said.
Iran launches ‘domestically developed’ imaging satellite from Russia
Russia has launched an Iranian-made research satellite into orbit amid rising tensions with the West. The rocket also carried a Russian weather satellite and 17 Russian small satellites.
- The Pars 1 remote sensing and imaging satellite was launched by a Russian Soyuz rocket from the Vostochny Cosmodrome and will scan Iran’s topography from an orbit of 310 miles (500km). The Pars 1 carries a 15-meter camera, enabling it to send high-resolution images of surface locations from its orbit.
- Iran claimed it had simultaneously launched three satellites into orbit in January using its own rocket, nearly a week after the launch of a research satellite by its Islamic Revolutionary Guard Corps (IRGC).
BOOKS & AUTHORS
National Defence Academy Releases Anthology ‘SOLDIER AND WAR POEM’ – A Tribute Through Poetry and Paintings
A poetry anthology titled “SOLDIER AND WAR POEM: BEST OF NATIONAL POETRY COMPETITION” was released by Commandant, National Defence Academy Vice Admiral Ajay Kochhar in Pune. 
- The poems and paintings featured in this book are a selected collection from the numerous entries received during the National Level Poetry Competition organised as part of the 75 GYC – Glorious Years Celebrations – by the Academy.
- The anthology comprising 170 poems and 15 paintings, has been compiled and edited by Dr Pragya Bajpai as a souvenir of the event, to be preserved for posterity. The soft copy version of the book in PDF format shall be shortly available on the official web site of NDA.
IMPORTANT DAYS
Dr. V.K Paul, Member NITI Aayog launches Birth Defect Awareness Month 2024
National Birth Defect Awareness Month 2024 was officially launched by NITI Aayog Member (Health), Dr. VK Paul. The theme for National Birth Defect Awareness Month in 2024 is “Inclusive Support for Children with Birth Defects: Breaking Barriers.” 
- Under the Rashtriya Bal Swasthya Karyakram of the Health Ministry, various activities for nationwide awareness of birth defect prevention, early identification, timely management, and psychosocial impact will take place throughout the month.
- The birth defects awareness campaign would be focusing on the awareness about prevention, early identification, and timely management. The program has examined 160 crore children, and it is a guarantee for child health.
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