National News
1.Electoral Bonds: BJP Tops the List with Highest Receipt
- The Electoral Bonds scheme, introduced in 2018, allows individuals and entities to make donations to political parties without revealing their identities.
- The Election Commission of India (ECI) has recently released data on the amounts received by various parties through this route, providing insights into the flow of funds in Indian politics.
- 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.
2.GOI Approves Electric Vehicle Policy to Boost Local Manufacturing
- The Indian government made a landmark announcement on March 15, approving a comprehensive scheme aimed at positioning India as a global hub for electric vehicle (EV) manufacturing.
- This policy, designed by the Ministry of Commerce & Industry, seeks to entice significant investments from renowned global EV manufacturers into the Indian market.
- The policy allows a three-year window for companies to establish their manufacturing facilities in India, commencing commercial production of EVs.
International News
3.Over 1500 Skeletons Discovered At Construction Site in Germany’s Nurember
- In Nuremberg, Germany, construction laborers stumbled upon an astonishing find while building a house: a vast number of human skeletons, indicating the presence of what may be Europe’s largest cemetery.
- Nearly a thousand skeletons have been unearthed so far, with estimates suggesting the total could surpass 1500. The cemetery’s location amidst a densely populated area adds to its intrigue and historical significance.
4.President Abbas Named Mohammad Mustafa As New Palestinian PM
- President Mahmoud Abbas of the Palestinian Authority (PA) has appointed Mohammad Mustafa as the new Prime Minister.
- Mustafa, a U.S.-educated economist, is one of the leading Palestinian business figures with a track record of overseeing Gaza’s reconstruction efforts under Hamas’ rule.
- As the new Prime Minister, Mustafa will need to navigate the complex political landscape and work towards uniting the Palestinian territories, while also addressing the pressing humanitarian crisis in Gaza and reviving the stalled peace process with Israel.
5.SpaceX Starship lost on return to Earth after completing most of third test flight
- SpaceX’s Starship rocket, aimed at lunar missions and beyond, faced another setback as it disintegrated during its third test flight.
- The Starship, consisting of the cruise vessel atop the Super Heavy rocket booster, launched from Starbase near Boca Chica Village, Texas.
- Mission control lost communication with Starship during re-entry, leading to its disintegration in the Earth’s atmosphere.
Economy News
6.Index Numbers of Wholesale Price in India for February 2024
- The Department for Promotion of Industry and Internal Trade (DPIIT) releases the monthly Wholesale Price Index (WPI) for India.
- This report provides crucial information on price changes in various sectors of the economy, aiding in economic analysis and policy formulation.
- The WPI for February 2024, with a base year of 2011-12, reflects a 0.20% provisional annual inflation rate, driven primarily by increases in food articles, crude petroleum & natural gas, electricity, machinery & equipment, and motor vehicles, trailers & semi-trailers.
7.Fitch Raises India’s GDP Forecast for FY25 to 7%
- Fitch Ratings has raised India’s growth forecast for FY25 to 7%, up from the previous estimate of 6.5%.
- The upgrade is attributed to robust domestic demand and sustained growth in business and consumer confidence, following a strong 8.4% expansion in Q3FY24.
- Growth is expected to be higher than normal in the short term but may moderate towards a more sustainable pace in FY25. Fitch expects inflation to gradually decrease to 4% by the end of the year, assuming stabilization in food prices.
Bankiing News
8.RBI Unveils Draft Guidelines on Climate Risk Disclosures for Financial Institutions
- Reserve Bank of India (RBI) released draft guidelines outlining a disclosure framework for climate-related financial risks applicable to various regulated entities (REs). These guidelines aim to ensure transparency and better management of climate risks within the financial sector.
- The RBI’s move aligns with its commitment to addressing climate risks, as demonstrated by its membership in the Central Banks and Supervisors Network for Greening the Financial System (NGFS) since April 2021.
Business News
9.Reliance to buy 13% of Paramount’s stake in Viacom18 for Rs 4,286 crore
- Reliance Industries, India’s largest private company, has announced its acquisition of Paramount Global’s entire 13.01% stake in Viacom 18 Media for Rs 4,286 crore ($517 million).
- This significant transaction underscores Reliance’s strategic positioning in the media industry, further solidifying its presence in the competitive market.
- Reliance Industries has entered a binding agreement to purchase Paramount Global’s stake in Viacom 18 Media, held through its subsidiaries.
Important Days News
10.World Consumer Rights Day 2024
- World Consumer Rights Day is celebrated annually on March 15 across the globe. This day aims to raise awareness about the rights and responsibilities of consumers in the marketplace.
- It emphasizes the importance of protecting consumer rights, ensuring fair and ethical business practices, and holding companies accountable.
- This year, the theme chosen by Consumers International for World Consumer Rights Day 2024 is ‘Fair and responsible AI for consumers.’
Ranks & Reports News
11.A Decade Of Science-Tech Panorama For Aatmanirbhar Bharat” – Report Unveiled
- On March 14, 2024, Dr. Jitendra Singh unveiled the report “A Decade of Science – Technology Panorama for Aatmanirbhar Bharat” at Vigyan Bhavan.
- The report provides a comprehensive overview of the technological advancements made by various Ministries and Departments of the Government of India over the past decade.
- The report also acknowledges the exponential growth of India’s startup ecosystem, reflecting on the journey from a few hundred to over a lakh startups, with the emergence of numerous unicorns across sectors.
Agreements News
12.India and Singapore Sign Memorandum of Understanding on Law and Dispute Resolution
- India and Singapore have solidified their cooperation in the realm of law and dispute resolution through a Memorandum of Understanding (MOU).
- The MOU signed by Singapore’s Minister for Culture, Community and Youth, and Second Minister for Law Mr. Edwin Tong SC and India’s Minister for Law and Justice Mr. Arjun Ram Meghwal aims to bolster collaboration in areas such as international commercial dispute resolution.
- Its objective is to share best practices, exchange expertise, facilitate capacity-building initiatives and address evolving needs of citizens and businesses through strategic partnership
13.DEPwD And COA Join Forces To Support Persons With Disabilities
- The Department of Empowerment of Persons with Disabilities (DEPwD) is collaborating with the Council of Architecture to enhance inclusivity and accessibility for Persons with Disabilities in public spaces and buildings.
- This partnership signifies a significant advancement in architectural practices and aims to raise awareness about designing environments that accommodate the needs of PwDs.
- These initiatives will include integrating essential course modules into the Bachelor of Architecture curriculum to educate future architects about the significance of creating accessible environments for PwDs.
14.IIT Delhi And Israel Aerospace Industries Join Forces For Applied Research
- IIT Delhi recently announced a collaboration with Israel Aerospace Industries (IAI), a significant step in applied research.
- This partnership reflects IAI’s commitment to corporate social responsibility (CSR) in India, aiming to promote innovation and technological advancement through joint projects, training initiatives, and research consultancy.
- Both entities aim to collectively shape India’s technological landscape, in line with IIT Delhi’s dedication to pioneering research.
15.Government of India and ADB Sign $23 Million Loan Agreement to Strengthen Fintech Ecosystem in India
- The Union Government of India, in collaboration with the Asian Development Bank (ADB), has finalized a $23 million loan agreement aimed at bolstering the fintech landscape within the country.
- The agreement targets the enhancement of access to quality fintech education and innovation, particularly within the Gujarat International Finance Tec-City (GIFT-City).
- Under this agreement, the Ministry of Finance will spearhead the establishment of an International Fintech Institute (IFI).
16.Ministry Of Heavy Industries Partners With IIT Roorkee In Automotive And EV Sector
- In a significant step towards promoting innovation and advancing the automotive and electric vehicle (EV) sector, the Ministry of Heavy Industries and the Indian Institute of Technology, Roorkee have signed a Memorandum of Understanding (MoU).
- MHI has allocated a grant of ₹19.8745 Cr. for research, development, and implementation, further supplemented by ₹4.78 Cr. from industry partners, highlighting a significant financial investment in transformative projects.
- The partnership underscores the importance of collaboration between academia and industry in driving technological advancements and addressing critical challenges.
17.Arya.ag partners Shivalik Bank for commodity financing
- Grain commerce platform Arya.ag has collaborated with Shivalik Small Finance Bank to extend financial assistance to farmers, agro-processors, and micro-enterprises.
- This partnership aims to facilitate over ₹200 crore in warehouse receipt financing in the current fiscal year, enhancing financial inclusion in the agricultural ecosystem.
- Arya.ag acts as a business correspondent for Shivalik Small Finance Bank. It focusses on empowering farmers and MSMEs traditionally underserved by formal banking.
Awards News
- Recently, the President of India conferred the Sangeet Natak Akademi Awards for the years 2022 and 2023 to 94 eminent artists (including two joint awards) in the field of performing arts.
- These awards recognize and celebrate the exceptional contributions of these artists in enriching India’s cultural heritage through their mastery in various art forms.
- In addition to the awards, the prestigious Sangeet Natak Akademi Fellowship (Akademi Ratna) was bestowed upon 7 eminent artists (one joint fellowship) during the ceremony.
Sports News
19.Max Verstappen Triumphs at Saudi Arabian Grand Prix
- Red Bull’s Max Verstappen clinched victory at the Saudi Arabian Grand Prix, starting from pole position. It marked Red Bull’s second consecutive one-two finish in the 2024 Formula One season.
- Verstappen’s Unstoppable Streak Verstappen celebrated his first-ever back-to-back victories at the start of a season. He extended his winning streak to nine consecutive races, including last year’s success. Verstappen also achieved his 100th career podium.
20.Mumbai Wins Ranji Trophy 2024 After Beating Vidarbha
- Mumbai won the Ranji Trophy 2024 after beating Vidarbha by 169 runs at the Wankhede Stadium in Mumbai. Vidarbha, who had won their previous two Ranji Trophy finals, could not replicate their success this time around.
- This was their 42nd Ranji Trophy title, showcasing their dominance in Indian domestic cricket. Mumbai ended their 8-year drought by winning the championship after last lifting the title in the 2015-16 season.
Books & Authors News
21.Parshottam Rupala release Book on Sagar Parikrama at Rajkot, Gujarat
- Union Minister for Fisheries, Animal Husbandry, and Dairying, Shri Parshottam Rupala, release a book and video titled “Sagar Parikrama” at the Engineering Association in Rajkot, Gujarat.
- The book aims to chronicle the Sagar Parikrama Yatra, encompassing diverse elements such as the maritime route, cultural and geographical explorations, and notable impacts from all 12 phases of the journey.
- It contains seven chapters covering the genesis of Sagar Parikrama, an overview of the journey along the West and East coasts, and key takeaways.
Obituaries News
22.Admiral Laxminarayan Ramdas, Former Indian Navy Chief, Dies At 90
- Admiral Laxminarayan Ramdas, the former Chief of Naval Staff of the Indian Navy (1990-1993), breathed his last peacefully at the age of 90 on March 15 morning, at the Military Hospital, Secunderabad, Telangana.
- His demise marks the end of an era in the Indian armed forces, leaving behind a legacy of valor, integrity, and unwavering commitment to principles.
Miscellaneous News
23.Maharashtra To Establish First-Of-Its-Kind Tourist Facility In Jammu And Kashmir
- The Maharashtra government has taken a historic step by securing approval from the Jammu and Kashmir administration to acquire 2.5 acres of land in Ichgam, near Srinagar airport, for the construction of Maharashtra Bhawan.
- This initiative symbolizes a proactive approach towards fostering cultural and touristic ties between the two regions. The Jammu and Kashmir government has sanctioned the transfer of land to Maharashtra at a cost of ₹8.16 crore, facilitating the realization of this ambitious project.
15 MARCH CURRENT AFFAIRS 2024 | ALL EXAMS IMP. CURRENT AFFAIRS | ASHISH GAUTAM SIR
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