National News
Indian Parliamentary Delegation Strengthens Ties with Armenia and IPU
The Indian Parliamentary Delegation, led by Deputy Chairman of Rajya Sabha Harivansh Narayan Singh, held a bilateral meeting with their Armenian counterparts on the sidelines of the Inter-Parliamentary Union (IPU) event in Geneva, Switzerland. The Armenian delegation was represented by the Vice President of the National Assembly, Hakob Arshakyan. Harivansh appreciated Armenia’s support to India in multilateral initiatives and emphasized the growing partnership between the two countries.
Govt to borrow ₹7.5 lakh cr in H1 FY25
The Indian government has outlined its borrowing strategy for the first half of the fiscal year 2024-25, aiming to raise Rs 7.5 lakh crore from the market through the issuance of various bonds, including sovereign green bonds. The government intends to borrow Rs 7.5 lakh crore from the market through auctions of bonds with maturities ranging from 3 years to 50 years.
International News
Saudi Arabia Sends First Contestant to Miss Universe Pageant
Rumi Alqahtani, a 27-year-old model and influencer from Saudi Arabia, announced on Instagram that she will be the first participant from the country in the Miss Universe competition. Alqahtani was born in Riyadh and has previously won the titles of Miss Saudi Arabia, Miss Arab World Peace 2021, and Miss Woman (Saudi Arabia). This will be the Kingdom of Saudi Arabia’s first appearance in the Miss Universe pageant.
Bassirou Diomaye Faye Wins Senegal’s Presidential Election
Bassirou Diomaye Faye, an anti-establishment figure, has won the Senegalese presidential election with 54.28 per cent of the votes in the first round. At 44 years old, Faye is set to become Africa’s youngest elected president and the first opponent to win in the first round since Senegal’s independence from France in 1960. His victory still needs to be validated by Senegal’s Constitutional Council in the next few days.
Florida Imposes Restrictions on Social Media for Minors
Florida Governor Ron DeSantis has signed a bill that prohibits minors under 14 from having social media accounts. The law requires parental permission for 14- and 15-year-olds to create accounts on platforms like Meta, TikTok, and others. All social media users in Florida must submit identification documents to verify their ages.
Thailand’s Historic Move: Legalizing Same-Sex Marriage
Thailand’s lower house of Parliament has passed a groundbreaking bill to legalize same-sex marriage, marking a significant step towards equality in Southeast Asia. The legislation, an amendment to the Civil and Commercial Code, garnered overwhelming support in the House of Representatives.
Appointments News
New Members Sworn In at Lokpal of India
Justice Ritu Raj Awasthi has taken oath as the new judicial member of the Lokpal (ombudsman) on 27 March 2024. The oath was administered by Justice AM Khanwilkar, the Chairman of the Lokpal of India. Central Vigilance Commissioner Praveen Kumar Srivastava and senior officers from CBI and Enforcement Directorate were present. Pankaj Kumar and Ajay Tirkey have been sworn in as new members of the Lokpal.
New Chiefs Appointed to Lead NIA, NDRF, and BPR&D
The Indian government has announced crucial appointments in key security agencies, including the National Investigation Agency (NIA), National Disaster Response Force (NDRF), and the Bureau of Police Research and Development (BPR&D). These appointments signify a reorganization within India’s security apparatus to enhance efficiency and address emerging challenges. Sadanand Vasant Date, a distinguished 1990-batch IPS officer from Maharashtra cadre, has been appointed as the new Director General of the NIA. Piyush Anand, a 1991-batch IPS officer from the Uttar Pradesh cadre, has been entrusted with the responsibility of heading the NDRF. Rajeev Kumar, an accomplished IPS officer from the Rajasthan cadre, has been appointed as the Director General of the BPR&D.
Sports News
IPL 2024, SRH hits record-breaking 277/3 against MI
The Sunrisers Hyderabad (SRH) team created history by posting a mammoth 277/3 against the Mumbai Indians (MI) in their Indian Premier League (IPL) 2024 match in Hyderabad. This score surpassed the previous highest total in the IPL of 263 runs, set by the Royal Challengers Bangalore (RCB) against Pune Warriors India in 2013.
Indian Paddler Sreeja Akula Shines at WTT Feeder Beirut II 2024
Indian paddler Sreeja Akula clinched the women’s singles title at the WTT Feeder Beirut II 2024 in Beirut, Lebanon. The world no. 47 Indian came from behind to secure a 6-11, 12-10, 11-5, 11-9 victory over the lower-ranked Sarah D Nutte of Luxembourg in the final. The 25-year-old Commonwealth Games mixed doubles gold medalist had previously defeated top seed world no. 36 Suh Hyo Won of South Korea earlier in the tournament. This is Sreeja’s second WTT singles career title, having won the Feeder Corpus Christi in January.
Kenyan Allrounder Collins Obuya Calls Time on Cricket Career
Veteran Kenyan allrounder Collins Obuya has announced his retirement from cricket following Kenya’s defeat to Uganda in the third-place play-off match at the African Games. A legspinning allrounder, Obuya represented Kenya in 104 ODIs, scoring 2044 runs and taking 35 wickets. He is Kenya’s third-highest run-scorer in ODIs, with the country being stripped of their ODI status in 2014.
Economy News
Morgan Stanley Raises India GDP Growth Forecast to 6.8%
Morgan Stanley has increased its GDP growth forecast for India for the financial year 2024-25 (FY25) to 6.8%, up from the previous estimate of 6.5%. This revision reflects a positive outlook on India’s economic trajectory, emphasizing its strength and stability in the current cycle. The firm also revised its growth forecast for the ongoing financial year, FY24, to 7.9%.
Business News
Adani Ports Acquires 95% Stake in Gopalpur Port for Rs 3,350 Cr
Adani Ports and Special Economic Zone (APSEZ), a subsidiary of the Adani Group, has acquired a controlling 95% stake in Gopalpur Port located in Odisha. The deal, valued at Rs 3,350 crore, solidifies APSEZ’s position in the ports and logistics sector.
CCI Approves Acquisition of Lanco Amarkantak Power Limited by Adani Power Limited
On March 26, 2024, the Competition Commission of India (CCI) granted approval to Adani Power Limited, a subsidiary of the Adani Group, for the complete acquisition of Lanco Amarkantak Power Limited. This acquisition involves the transfer of 100% equity share capital of Lanco Amarkantak Power Limited to Adani Power Limited.
NTPC Secures USD 200 Million Loan from JBIC for Renewable Projects
State-owned power giant NTPC has finalized an agreement with the Japan Bank for International Cooperation (JBIC) to obtain foreign currency loans totaling USD 200 million (JPY 30 billion or approximately Rs 1,650 crore). This financing arrangement signifies a significant step in NTPC’s endeavor to augment its renewable energy initiatives.
IRDAI Identifies LIC, GIC Re, and New India Assurance as D-SIIs
The Insurance Regulatory and Development Authority of India (IRDAI) has designated three insurers as Domestic Systemically Important Insurers (D-SIIs) for the year 2023-24. These insurers, namely Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC Re), and New India Assurance Co Ltd, have retained their D-SII status from the previous year. D-SIIs are insurers of significant size and market importance whose distress or failure could disrupt the domestic financial system.
Wipro-GE Healthcare’s Rs 8,000 Crore Investment: Boosting ‘Make in India for the World’
Wipro-GE Healthcare, a prominent player in medical technology and digital solutions, is set to invest Rs 8,000 crore over the next five years in India. This investment aims to strengthen its manufacturing output and research and development capabilities. The company’s focus is on expanding its ‘Make in India for the World’ initiative, emphasizing increased localization and exports of medical equipment.
Ranks and Reports News
ILO Report Highlights Grim Employment Scenario in India
The International Labour Organization (ILO) in collaboration with the Institute of Human Development (IHD) has released the ‘India Employment Report 2024,’ shedding light on the challenges faced by the Indian job market as the financial year comes to a close. Chief Economic Adviser V. Anantha Nageswaran unveiled the report, which outlines significant shifts in employment patterns and trends in education levels among the unemployed, spanning two decades up to 2022.
Science and Technology News
ISRO’s START 2024 Program to Inspire Youth in Space Science
The Indian Space Research Organisation (ISRO) will conduct the Space Science and Technology Awareness Training (START) 2024 program during April and May. ISRO is inviting Expression of Interest (EOI) from educational institutes, universities, and colleges within India offering UG and PG courses in physical sciences and technology to host START-2024.
Books and Authors News
A book titled “From A Car Shed To The Corner Room & Beyond” by S. Raman
S. Raman’s autobiography, “From A Car Shed To The Corner Room & Beyond,” offers a first-person account of his remarkable journey from a clerk at SBI to becoming the Chairman and Managing Director of Canara Bank and a full-time Member of SEBI. The book explores the intricate dance between personal integrity, professional challenges, and systemic issues in the financial world.
28 MARCH CURRENT AFFAIRS 2024 | ALL EXAMS IMP. CURRENT AFFAIRS | ASHISH GAUTAM SIR
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