Current Affairs 13 March 2024

We are here for you to provide the important Recent and Latest Current Affairs 13 March 2024, which have unique updates of Latest Current Affairs 2024 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

MoJS & IISc Bangalore signed MoA to Establish ICED Central Water Commission (CWC) under the Department of Water Resources, River Development & Ganga Rejuvenation (DoWR, RD & GR), Ministry of Jal Shakti (MoJS) signed a Memorandum of Agreement (MoA) with the Indian Institute of Science (IISc) Bangalore(Bengaluru), Karnataka to establish an International Centre of Excellence for Dams (ICED).

• The ICED will be established under the Dam Rehabilitation and Improvement Project (DRIP) Phase II and III.

MoJS & Ministry of Tourism Launched Swachhata Green Leaf Rating
The Ministry of Tourism in collaboration with the Department of Drinking Water & Sanitation (DDWS) under MoJS launched the Swachhata Green Leaf Rating (SGLR) program, to transform sanitation standards in India’s tourism sector.
About Ministry of Jal Shakti:
Union Minister– Gajendra Singh Shekhawat (Constituency: Jodhpur, Rajasthan)
Ministers of State– Prahlad Singh Patel (Constituency: Damoh, Madhya Pradesh); Bishweswar Tudu (Constituency: Mayurbhanj, Odisha)
>> Read Full News

Cabinet Committee on Security Approves Rs.15,000 Crore for 5th Generation Aircraft ProjectCabinet Committee on Security (CCS) headed by Prime Minister (PM) Narendra Modi, has approved fund worth Rs 15,000 crore for an indigenous fifth-generation Advanced Medium Combat Aircraft (AMCA) fighter jet project for the Indian Air Force (IAF).
About AMCA:
i.AMCA project aims to develop five prototypes of AMCA over the next five years (before 2030) with the first prototype of AMCA expected to roll out in 2026.
ii.These aircraft will be built by the Special Purpose Vehicle (SPV) consisting of

• Aeronautical Development Agency (ADA) of the Defence Research and Development Organisation (DRDO)
• Hindustan Aeronautics Limited (HAL) 
• a private sector partner chosen by a selection process

iii.Powered by the General Electric (GE)-414 engine, the new jets will be equipped with the latest military technologies such as stealth features, Artificial Intelligence (AI), long-range targeting capabilities and the ability to jointly operate with unmanned systems.
iv.The Research and Development (R&D) for the avionics of AMCA is carried out at the new Flight Control System (FCS) facility in Bengaluru, Karnataka.
Other Approvals –
The CCS has also cleared a proposal for 34 new Advanced Light Helicopter (ALH) Dhruv helicopters, of which 9 will be inducted into the Indian Coast Guard (ICG), while the Indian Army will receive 25 of them. The project is expected to cost more than Rs 8,000 crore.

• The ALH Dhruv helicopters will be manufactured by HAL.

About Indian Air Force (IAF):
Chief of the Air Staff – Vivek Ram Chaudhari
Headquarters –  New Delhi, Delhi
Established in – 1932

Union Minister for Communication Ashwini Vaishnaw Launches NITI Aayog’s – ‘NITI for States’ Platform & Viksit Bharat Strategy RoomUnion Minister Ashwini Vaishnaw, Ministry of Communications unveiled the National Institution for Transforming India (NITI Aayog)’s transformative Digital Public Infrastructure (DPI) platform ‘NITI For States’ in New Delhi, Delhi for enhancing policy and governance.

• He also inaugurated the ‘NITI For States – Viksit Bharat Strategy Room’ at the NITI Aayog Bhawan in New Delhi to facilitate effective decision-making through visualisation and engagement with insights.

About National Institution for Transforming India (NITI Aayog):
CEO– B.V.R. Subrahmanyam
Headquarters– New Delhi, Delhi
Established in– 2015
>> Read Full News

Union Minister Dharmendra Pradhan Inaugurated I-Hub Foundation in IIM SambalpurUnion Minister Dharmendra Pradhan, Ministry of Education (MoE), has inaugurated ‘I-Hub Foundation’ during the 100 Cube Startup Conclave held at Indian Institutes of Management (IIM) Sambalpur in Odisha on 1st March 2024.
Highlights:
i.IIM Sambalpur signed a MoU with IG Drones, India’s premier Drone Tech and Analytics company. Under this MoU, IG Drones will launch the first ever drone centre of excellence (CoE) at Delhi Campus of IIM Sambalpur.
ii.Apna.co, a platform for job seekers and professional networking, has signed an MoU with IIM Sambalpur to promote innovation, research, and entrepreneurship.
About Ministry of Education (MoE):
Union Minister – Dharmendra Pradhan (Rajya Sabha- Madhya Pradesh)
Union Minister of State (MoS) – Annpurna Devi (Constituency: Kodarma, Jharkhand); Dr. Subhas Sarkar (Constituency: Bankura, West Bengal);  Dr. Rajkumar Ranjan Singh (Constituency: Inner Manipur, Manipur)
>> Read Full News

India & EFTA Signed USD 100 bn Free Trade Pact to Promote Investments in 15 YearsOn 10th March 2024, India and European Free Trade Association (EFTA), signed a Trade and Economic Partnership Agreement (TEPA) commiting an investment of USD 100 billion over 15 years.

• Under the TEPA, EFTA commits to promote investments to increase the stock of foreign direct investments (FDI) in India.
• This will also facilitate the creation of 1 million direct employment in India.

Note: EFTA is the intergovernmental organisation of Iceland, Liechtenstein, Norway and Switzerland.
Key People: The agreement was signed in the presence of Union Minister Piyush Goyal, Minister of Commerce and Industry
Significance:
TEPA marks India’s first-ever Free Trade Agreement (FTA) with 4 developed nations.
Under the FTA, India will lift (partially remove) customs tariffs on 95.3% of industrial imports from Switzerland (excluding gold) either immediately or with transition periods.
About the TEPA:
The agreement comprises 14 chapters focusing on market access related to goods, rules of origin, trade facilitation, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, investment promotion, market access on services, intellectual property rights(IPR), trade and sustainable development and other legal and horizontal provisions.
Highlights of TEPA:
i.EFTA offers 92.2% of tariff lines, covering 99.6% of India’s exports. EFTA market offers 100% coverage of non-agricultural products and tariff concessions on Processed Agricultural Products (PAP).
ii.India offers 82.7% of its tariff lines, covering 95.3% of EFTA exports, nearly 80% of which is in gold.

• Sensitivity to sectors like pharma, medical devices, and processed food, with exclusions for dairy, soya, coal, and sensitive agricultural products.

iii.India offers 105 sub-sectors to the EFTA and secured commitments in 128 sub-sectors from Switzerland, 114 from Norway, 107 from Liechtenstein, and 110 from Iceland.
iv.Commitments related to IPR in TEPA are at the Trade-Related Aspects of Intellectual Property Rights (TRIPS) level. IPR chapter (Switzerland) has high standard for IPR.
v.TEPA signals India’s commitment to sustainable development, inclusive growth, and environmental protection.
vi.TEPA empowers Indian exporters to access specialised inputs and integrate into EU markets. Over 40% of Switzerland’s global services exports are to the EU.
vii.This Boosts “Make in India” and Atmanirbhar Bharat by encouraging domestic manufacturing.
Additional info:
i.EFTA was established in 1960 by the EFTA Convention for the promotion of free trade and economic integration for the benefit of its 4 Member States.
ii.EFTA is one important economic block out of the 3 in Europe. The other 2 are, the European Union (EU) and the United Kingdom (UK).
Note: Among EFTA countries, Switzerland is the largest trading partner of India followed by Norway.
About European Free Trade Association (EFTA)
Secretary-General– Siri Veseth Meling (Norway)
Headquarters– Geneva, Switzerland
Established in– 1960

NHAI Collaborates with HLL Life care to Strengthen IMS and Assist Accident Victims on NHOn March 8, 2024, the National Highways Authority of India (NHAI) has signed a 5-year Memorandum of Understanding (MoU) with HLL Lifecare Limited to provide immediate assistance to accidents victims and to strengthen NHAI’s Incident Management System (IMS) on the National Highways (NHs).
Note: HLL Lifecare Limited is a Public Sector Undertaking (PSU) under the Ministry of Health & Family Welfare (MoH&FW).
Key People: It was signed in presence of Santosh Kumar Yadav,Chairman of NHAI and Kuruvilla P.C., Associate Vice President & Business Head, HLL Lifecare Limited, among others.
Features of the MoU:
i.Under this MoU, NHAI will strengthen its existing Incident Management System. The system includes Ambulances, Route Patrol Vans & Cranes, real time tracking, and supportive supervision.

• This will facilitate referral of accident victims to the nearest health facilities and establish a seamless process for incident management.
• This will also include the Operation & Management of Trauma Centres/Emergency Stabilization Centers to offer  assistance during the golden hour and improve health outcomes.
• This will also strengthen the services provided through National Highway (NH) Toll-Free Helpline Number 1033.

ii.HLL Lifecare Limited will provide comprehensive geo-tagging, mapping, and engagement of health facilities and trauma centers across NH to enhance the emergency medical response.
iii.HLL lifecare will also create a blueprint for investment on trauma centres along NHs.
iv.HLL lifecare will operationalize and manage the state-of-the-art ambulance services with improved ‘Basic Life Support’ at select locations of NHs.
v.HLLLifecare Limited will provide training and orientation of the Toll Plaza Staff on new initiates and providing basic life support.
vi.A Technical Support Unit will be established to supervise initiatives and coordinate with NHAI officials for effective implementation.

MHA notified Citizenship Amendment Act Rules, 2024 On March 11, 2024, the Ministry of Home Affairs (MHA) notified the rules under the Citizenship (Amendment) Act, 2019 (CAA-2019). These rules, called the Citizenship (Amendment) Rules, 2024 to fast-track the citizenship process for non-Muslims, immigrants such as Hindus, Sikhs, Jains, Buddhists, Parsis, and Christians from Bangladesh, Pakistan, and Afghanistan, who had entered India before December 31, 2014.

• The rules are notified over four years after Parliament passed this law on December 11, 2019 amending the Citizenship Act of 1955.
• These rules will enable the persons eligible under CAA-2019 to apply for grant of Indian citizenship.
• Click Here to Read about the Act

Key Points:
i.The entire process for eligible people to submit applications for Indian citizenship under the law will be online.
ii.As per parliamentary procedures, legislation rules should be framed within six months of presidential assent.  Failure to do so requires an extension from the Committees on Subordinate Legislation in both Lok Sabha and Rajya Sabha.

• MHA obtained extensions from these committees at regular intervals to develop rules enabling eligible individuals to apply for Indian citizenship.

iii.CAA doesn’t apply to Indian citizens. It’s aimed at granting Indian citizenship to certain foreigners who faced religious persecution in neighboring countries due to their faith.
iv.The CAA doesn’t apply to areas under the Sixth Schedule of the Constitution and those covered by the Inner Line Permit system, protecting the interests of tribal and indigenous communities in the North-Eastern region. Residents of these areas can’t apply for Indian citizenship under the CAA.

BANKING & FINANCE

SEBI notifies Regulations for Small and Medium REITsThe Securities Exchange Board of India (SEBI) has introduced amendments to the Real Estate Investment Trusts (REITs) Regulations 2014 namely ‘SEBI (REIT) (Amendment) Regulations 2024’. This will establish guidelines for creation of Small and Medium REITs, or SM REITs.

• This move aims to regulate the fractional ownership industry and safeguard investor interests, incorporating both commercial and residential properties within the new framework.

Note:
Fractional ownership allows individual investors to co-own commercial or residential properties through special purpose vehicles (SPVs) or private limited companies, focusing on pre-leased assets for monthly rental returns.
Key Points:
i.SM REITs can raise funds starting from Rs 50 crore by issuing units to a minimum of 200 investors for acquiring and managing real estate assets, generating income for investors.
ii.An SM REIT’s listing is same as an IPO, with a key distinction: at least 95% of its assets must be fully developed and generating revenue, compared to the 80% requirement for larger REITs.
iii.The initial offering for an SM REIT requires a minimum subscription amount of Rs 10 lakh per investor, lower than the usual Rs 25 lakh.
iv.The investment manager must retain a minimum of 5% of total outstanding units for two years, reduced from the proposed 15%.
v.SM REITs must ensure a 15% co-investment by the manager, with leverage capped at 49% of assets.
vi.SM REITs can raise funds from Indian and foreign investors through unit issuance.
vii.Assets within SM REITs will be organized through schemes operated under SPVs. An investment manager establishing an SM REIT must possess a minimum net worth of Rs 20 crore, and oversight will be provided by a separate trustee.

• The investment manager must maintain a website detailing all SM REIT schemes for transparency and investor access to information.

About Securities Exchange Board of India(SEBI):
Chairperson– Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra
Establishment–  1992

AWARDS & RECOGNITIONS

India’s MoHFW Receives ‘Measles and Rubella Champion’ AwardOn 6th March 2024, the Ministry of Health and Family Welfare(MoHFW), Government of India, was recognised with the “Measles and Rubella Champion” Award by the Measles and Rubella Partnership(M&RP) for its efforts towards Measles and Rubella Disease Prevention.

• Ambassador Sripriya Ranganathan, Deputy Chief of Mission, Embassy of India, Washington D.C., The United States of America (USA) has received the award on behalf of MoHFW during the event held at the American Red Cross Headquarters in Washington D.C., USA

Points to note:
i.The award recognizes India’s efforts to combat measles and rubella with innovative strategies like using “measles as a tracer” to strengthen routine immunization
ii.India’s proactive Measles-Rubella (MR) vaccination campaign in high-risk areas, robust surveillance systems, and effective public-awareness initiatives have been instrumental.
iii.50 districts consistently report no measles cases, while 226 districts haven’t reported rubella cases over the past 12 months.
Note: Measles and Rubella are Vaccine-Preventable Diseases (VPDs), and India aims to eliminate them through its Universal Immunization Programme since 2017.
About Measles and Rubella Partnership(M&RP):
M&RP is a global initiative to reduce the global mortality rates for measles and rubella.
M&RP is led by the American Red Cross, Bill & Melinda Gates Foundation (BMGF), Global Alliance for Vaccines and Immunisation (GAVI), United States Centers for Disease Control and Prevention (US CDC), United Nations Foundation (UNF), United Nations Children’s Fund (UNICEF), World Health Organization (WHO)

President Murmu Presents “President’s Standard & Colours” to 4 IAF Units
On 8th March 2024, the Droupadi Murmu, President of India, presented the President’s Standards and Colours to four units of the Indian Air Force (IAF) at the ceremony held at Hindon Air Force station, Ghaziabad, Uttar Pradesh(UP). For the first time, 4 units were honoured with the President’s Standard & Colours in a single ceremony.

• President’s Standard were presented to No. 45 ‘Flying Daggers’, the first Light Combat Aircraft (LCA) squadron, and No. 221 Squadron ‘Valiants’ which flew several missions during 1999 Kargil conflict.
• President’s Colours were presented to 11 Base Repair Depot (BRD) and 509 Signal Unit (SU)

The awards were received by Group Captain M Surendran, Commanding Officer of 45 Squadron; Group Captain Shubhankan, Commanding Officer of 221 Squadron; Air Commodore Ashutosh Vaidya, Air Officer Commanding of 11 BRD and Group Captain Vivek Sharma, Commanding Officer of 509 SU.
Note: President’s Standard and Colours are the highest honour that can be bestowed upon any military unit in India.

SCIENCE & TECHNOLOGY

India Conducted Flight test of Agni-5 Missile with MIRV Technology under Mission DivyastraOn 11 March 2024, India successfully conducted the 1st flight test of an indigenously developed Agni-5 ballistic missile by the Defence Research and Development Organisation (DRDO), equipped with Multiple Independently Targetable Re-entry Vehicle (MIRV) technology from DR. APJ Abdul Kalam Island off the coast of Odisha.

• The flight test was conducted as part of India’s nuclear-capable missile named Mission Divyastra (divine weapon).
• With the flight test of Mission Divyastra, India has joined the select group of nations that have MIRV capability.

Note: Government sources revealed that the team behind the MIRV-equipped Agni-5 missile was led by Sheena Rani, a scientist and associate director of DRDO’s Advanced Systems Laboratory, as program director of Agni.
MIRV Technology Overview:
i.MIRV, allows a single inter-continental ballistic missile (ICBM) to carry 4 to 6 nuclear warheads, each capable of hitting distinct targets.
ii.MIRVs can cause more destruction than traditional missiles that carry a single warhead.
iii.MIRV technology would improve the Agni-5 missile’s ability to precisely deliver numerous warheads to distinct targets
iv.This technology originated 5 decades ago, possessed by a few nations like the United States of America (USA), Russia, China, the United Kingdom (UK), and France.
Agni-5 and its features:
i.Agni-5, developed by DRDO, is a long-range missile that has been in India’s arsenal since the early 1990s.
ii.The Agni-5 missile, which uses a 3-stage solid-fuelled engine, has a range of more than 5,000 kilometers (km), developed to enhance India’s national security.
iii.The weapon system is equipped with indigenous Avionics systems and high-accuracy sensor packages.
iv.The system ensured that the re-entry vehicles reached the target points with the desired accuracy.
Note: Agni-6, the next upgrade, is expected to be a full-fledged ICBM with a range exceeding 7,000 km.
About Defence Research and Development Organisation (DRDO):
Chairman – Dr Samir Vankatpati Kamat
Headquarters– New Delhi, Delhi
Formed in– 1958
It is the R&D wing of Ministry of Defence (MoD).

PFRDA Inaugurates Zerodha Developed NPS Web App for Financial Inclusion
Deepak Mohanty, Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), inaugurated the National Pension System (NPS) web application developed by Bengaluru(Karnataka) based Zerodha Broking Limited.

• The app offers seamless access of NPS for users, allowing them to easily manage their NPS accounts
• The app fosters innovation and inclusivity within the NPS architecture, particularly through its engagement of fintech entities as Point of Presence (PoP).

SPORTS

India Men’s Cricket Team Defeats England to Win Anthony de Mello Trophy 2024The Indian men’s test cricket team led by Rohit Sharma won the Anthony de Mello Trophy 2024 by defeating England (captained by Ben Stokes) in the five-match test series for 4-1 held from 25th January to 9th March 2024 in five venues across India.

• Ravichandran Ashwin played his 100th Test for India in the fifth Test against England at Dharamshala, where he also took five wickets in the second innings.
• Ashwin is the ninth bowler and the second Indian(After Anil Kumble –  619) to pick up 500 Test wickets.
• Yashasvi Jaiswal was the top run scorer in the series with 712 runs. He won the Player of the Series award.
• The Anthony de Mello Trophy 2024 series is the first-ever Test series where more than 100 sixes were hit.
• Bumrah became the quickest Indian fast bowler to 150 Test wickets (in the second Test match against England), achieving the feat in 34 Test matches.
• The Indian men’s cricket team claimed the top spot in the International Cricket Council (ICC) Test rankings after winning the test series against England.

About the Board of Control for Cricket in India(BCCI):
President – Roger Binny
Head Quarters – Mumbai, Maharashtra
Established – 1928
>> Read Full News

STATE NEWS

PM Narendra Modi Launches ‘Mahatari Vandana Yojana’ scheme in ChhattisgarhPrime Minister (PM) Narendra Modi launched the Mahatari Vandana Yojana in Chhattisgarh, aiming to uplift and economically empower women in the state. The PM also disbursed Rs 655 crore, as the first installment of the Mahatari Vandana Yojana.
Objective:
This scheme aims to provide financial assistance of Rs 1000 per month to eligible married women of the state through monthly Direct Benefit Transfer (DBT).
Key People:
Chief Minister of Chhattisgarh, Vishnu Deo Sai, and various Ministers and people’s representatives were also present on the occasion.
Vision:
The initiative is expected to ensure the economic empowerment of women, foster financial security, promote gender equality, and strengthen the pivotal role of women in the family.
Eligibility:
All married women above 21 years as of January 1, 2024, including widows and divorced women.
Scope: Approximately 70 lakh women to benefit.
About Chhattisgarh:
Chief Minister– Vishnu Deo Sai
Governor– Biswabhusan Harichandan
National Park– Guru GhasiDas National Park
Wildlife Sanctuaries– Bhairamgarh Wildlife Sanctuary and Bhoramdeo Wildlife Sanctuary

Bichom Inaugurated as 27th District of Arunachal Pradesh
On 8th March 2024, Pema Khandu, Chief Minister (CM) of Arunachal Pradesh, inaugurated Bichom, the 27th district of Arunachal Pradesh and laid the foundation of its headquarters at Napangphung.

• The new district Bichom was carved out of West Kameng and East Kameng districts.

i.The formation of the new district has been a longstanding demand by the people of diverse communities since 1984.
ii.Bichom consists of 27 villages from West Kameng and 28 from East Kameng.
iii.During the inauguration, the CM handed over the responsibility to the newly appointed deputy commissioner and superintendent of police.

Nagaland’s DoIC signed MoU with YES Bank & Sellmetric Pvt Ltd to Utilize ONDC platform
The Department of Industries & Commerce (DoIC), Government of Nagaland have signed a Memorandum of Understanding (MOU) with  YES Bank Limited and Sellmetric Private Limited to facilitate digital sales for small businesses, farmers, and entrepreneurs, through the Open Network for Digital Commerce (ONDC) platform.
i.DoIC is the Nodal department for promoting and advancing the implementation of ONDC initiatives within Nagaland.
ii.ONDC is a flagship initiative of the Department for Promotion of Industry & Internal Trade (DPIIT) under the Ministry of Commerce & Industry (MoCI) to democratize e-commerce.

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