Current Affairs 21 March 2024

We are here for you to provide the important Recent and Latest Current Affairs 21 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

MoRD Signs a Non-Financial MoU with BFIL to Boost Livelihood Intervention in Rural Livestock & Fisheries Sector i.The Ministry of Rural Development (MoRD) signed a Non-Financial Memorandum of Understanding (MoU) with Bharat Financial Inclusion Limited (BFIL) to enhance livelihood interventions of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM).
ii.The Ministry of Rural Development (MoRD) signed a Memorandum of Understanding (MoU) with the Abdul Latif Jameel Poverty Action Lab (J-PAL) South Asia based at the Institute for Financial Management and Research (IFMR), to expand the ‘Samaveshi Aajeevika’ program across India.
About Ministry of Rural Development (MoRD):
Union Minister– Giriraj Singh (Constituency: Begusarai, Bihar)
Ministers of State– Faggan Singh Kulaste (Constituency: Mandla, Madhya Pradesh); Sadhvi Niranjan Jyoti (Constituency: Fatehpur, Uttar Pradesh)
>> Read Full News

MSDE Announces Exchange of MoUs, Strategic Initiatives, and Launch of New Courses
Union Minister Dharmendra Pradhan, Ministry of Skill Development and Entrepreneurship (MSDE) unveiled a series of strategic partnerships aimed at enhancing the scale and efficiency of India’s skill ecosystem.
Initiatives Launched:
i.The Minister launched Mock Test 2.0 by National Instructional Media Institute (NIMI), made in 12 languages and 4 New Age courses under the Craftsmen Training Scheme (CTS) in Artificial Intelligence and Cyber Security

• The  four new-age courses were introduced for Industrial Training Institute (ITI) and National Skill Training Institute (NSTI) candidates

ii.Two Centres of Excellence (CoE) viz. Media and HVAC (Heating, Ventilation, and Air Conditioning) were inaugurated at the Skill Development Institute (SDI) in bhubaneswar, Odisha.
iii.The Skill Gap Assessment Report on Green Hydrogen, which was produced by the Skill Council for Green Jobs in collaboration with United States Agency for International Development (USAID), was also released at the occasion.
Signing of MoUs:
i.MSDE signed 19 Memorandums of Understanding (MoUs) across various departments to foster skill development and entrepreneurship.

• One led by the Directorate General of Training (DGT).
• Three by the National Institute for Entrepreneurship and Small Business Development (NIESBUD).
• Five under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY).
• One under PM Vishwakarma.
• Nine through the National Skill Development Corporation (NSDC).

ii.Collaborations with private sector and ministerial departments aim to transform India into ‘Kushal Bharat Viksit Bharat,’ empowering youth for global leadership and innovation.
iii.MoU signatories include government associations, industry players, and academic institutions. Collaborations also include NEISBUD with Ministry of Labour and Employment (MoLE), The Department of Food & Public Distribution, and the Export Promotion Council for Handicrafts to enhance entrepreneurial skills and self-employment opportunities.

• DGT renewed partnership with Future Right Skills Network (FRSN) facilitated by Quest Alliance along with partners Accenture, Cisco, JP Morgan, and SAP to further skills development initiatives.

Participants:
Dr. Nirmaljeet Singh Kalsi, Chairman, National Council of Vocational Education and Training (NCVET)
Shri Atul Kumar Tiwari, Secretary, MSDE
Shri Sanjeev Chopra, Secretary, Department of Food and Public Distribution
Shri Ved Mani Tiwari, CEO, NSDC, and MD, NSDC International

Cabinet Approved Rs. 2207.50 Cr Budgetary Support to Run CAPFIMS as a Campus of AIIMS, Delhi; MoA Signed between CAPFIMS & AIIMSA Memorandum of Association (MoA) was signed between the Central Armed Police Forces Institute of Medical Sciences (CAPFIMS) and All India Institute of Medical Sciences (AIIMS), New Delhi, Delhi to run the 970-bed super-specialty and tertiary care hospital (of CAPFIMS) as a campus of AIIMS.

• The Union Cabinet approved budgetary support of Rs 2207.5 crore in the 15th Finance Commission (FC) cycle to run CAPFIMS as a campus of AIIMS, Delhi.

Points to Note:
i.Construction of CAPF institute was completed in 2013; operationalised in 2016 under the sanction of the Ministry of Home Affairs (MoHA).
ii.The CAPFIMS hospital will provide healthcare services to all CAPF employees, their dependents, pensioners, Central Government Health Scheme (CGHS) beneficiaries, Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) beneficiaries, and the general public.
Objective:
This strategic partnership aims to leverage AIIMS’s expertise to enhance healthcare services at CAPFIMS.
Funding and Support:
The MoHA will provide the funds to AIIMS for the procurement of medical equipment, furniture, and the recurring cost towards operations and maintenance of the campus.
Staffing and Patient Care:
i.AIIMS faculty and resident doctors will serve on a roster basis at CAPFIMS to ensure quality patient care.
ii.Patients would be directed to CAPFIMS if they are unable to find beds or intensive care unit (ICU) services at AIIMS Delhi’s emergency department.
Infrastructure Overview:
i.CAPFIMS boasts a 970-bed referral and research hospital, a 500-bed general hospital, and a 300-bed super-specialty hospital. It also houses 170 (ICU) / critical care beds.
ii.Additional facilities include a medical college, college of nursing, and school of paramedics.
Scope of Services:
i.The “AIIMS-CAPFIMS Campus” is committed to offering super-specialty healthcare, nursing, paramedical training, and trauma care.
ii.Specialised services like Artificial Limb Centre, Mental Health Counseling Centre, and Physical Rehabilitation Centre will cater to specific needs.

India, Brazil Hold First ‘2+2’ Defence and Foreign Ministerial Dialogue
On 14th March 2024, India and Brazil held their first 2 plus 2 Secretary level Political and Military Dialogue in New Delhi, Delhi. The dialogue was co-chaired by,

• India: Godavarthi Venkata Srinivas, Additional Secretary (Latin American and Caribbean-LAC), Ministry of External Affairs (MEA) and Vishwesh Negi, Joint Secretary (International Cooperation), Ministry of Defence(MoD).
• Brazil: Marcelo Camara, Director, Ministry of Foreign Affairs (MoFA), and Rear Admiral Fernando de Luca Marques de Oliviera, MoD

Both countries discussed a variety of subjects, including defence, space, energy, critical minerals, technology, counter-terrorism, and regional, multilateral, and other issues of mutual interest.

Maharashtra CM Eknath Shinde Inaugurates India’s First LNG-Powered Bus
Maharashtra Chief Minister(CM) Eknath Shinde has inaugurated India’s first Liquefied Natural Gas (LNG) powered bus, which will be operated by Maharashtra State Road Transport Corporation(MSRTC).

• MSRTC announced that it will convert its 5,000 diesel vehicles into LNG alternative fuel vehicles in phases.
• MSRTC has signed a memorandum of understanding (MoU) with M/s Kings Gas for the conversion of diesel buses to LNG. It includes the usage and supply of fuel.
• It will set up LNG distribution facilities at 90 depots across Maharashtra.

Note:
i.MSRTC operates around 16,000 buses and serves approximately 60 lakh passengers every day.
ii.LNG vehicles have 30% lower Carbon di-oxide (CO2) emissions and 90% lower particulate matter(PM) emissions when compared to diesel.

INTERNATIONAL AFFAIRS

IA’s Gorkha Rifles Participates in the 10th Edition Joint Military Exercise ‘LAMITIYE-2024’ in SeychellesThe Indian Army (IA) contingent ‘Gorkha Rifles’ participates in the 10th Joint Military Exercise “LAMITIYE-2024” between IA and Seychelles Defence Forces (SDF).

• The exercise, meaning ‘Friendship’ in Creole, started on March 18 and goes until March 27, 2024.
• This exercise is a biennial event being held in Seychelles since 2001.
• 45 personnel from each side participate in the exercise.

Key Points:
i.The exercise aims to bolster interoperability in Sub-conventional Operations within a SemiUrban environment under Chapter VII of the United Nations Charter on Peace keeping Operations.
ii.It seeks to enhance cooperation and interoperability during Peacekeeping Operations while fostering bilateral military relations through skill, experience, and practice exchange.
iii.The joint training will encompass tactical drills for neutralizing potential threats in a Semi-Urban setting, leveraging new-generation equipment and technology.
iv.The 10 day-exercise will feature Field Training, combat discussions, lectures, and demonstrations, culminating in a two-day Validation Exercise.
v.It is expected to significantly enhance mutual understanding, jointness, collaborative partnership, and the sharing of best practices between both armies.
About Seychelles:
President– Wavel Ramkalawan
Capital– Victoria
Currency– Seychellois Rupee

BANKING & FINANCE

SEBI nod to T+0 settlements for Limited Stocks, Eases Norms for FPIs The Securities and Exchange Board of India (SEBI)  approved same day settlement (T+0) for 25 scrips with select brokers. On its 204thmeeting of the SEBI Board has approved slew of measures to bring flexibility for initial public offerings (IPOs), Alternative Investment Funds (AIFs), and Foreign Portfolio Investors (FPIs).
SEBI Approvals on its 204th Board Meeting:
i.FPIs with over 50% of Indian equity in one group exempt from extra disclosures if holdings in a listed company with no identified promoter stay below 3%.
ii.There are relaxed timelines for FPIs’ material change disclosures; reactivation within 30 days of registration expiry or disposal within 180 days, with unsold securities transferred to escrow after 360 days.
iii.In terms of the timelines for disclosures by the FPIs, they shall be categorized into two buckets, Type I and Type II. The Type I material changes shall continue to be informed by FPIs to their designated depository participants (DDP) within seven working days of the occurrence of the change. However, supporting documents for the same shall now be required to be provided within 30 days of such change.

• Other material changes (categorized as Type II) shall be informed along with supporting documents by FPIs to their DDP within 30 days of such change

iv.IPO norms eased: Non-individual shareholders can contribute to minimum promoters’ contribution without being identified as promoters. Offer size adjustments based on either rupee value or share numbers.
v.Compliance for listed entities’ market capitalization based on six-month average ending December 31.
vi.SEBI to specify objective criteria for rumor verification based on share price movements.
vii.AIFs can encumber equity of investee companies in infrastructure for debt raising, and deal with unliquidated investments during winding up.
viii.Framework for subordinate unit issuance by privately placed InvITs (Infrastructure Investment Trust) established.
ix.It also endorsed a standardized approach for market rumor verification through an Industry Standards Forum (ISF). Industry Standards Forum (ISF), comprising of three industry associations viz. ASSOCHAM, CII and FICCI, took up the rumour verification requirement.
x. Sebi has also recognised the stock exchanges as a body for administration and supervision of research analysts and investment advisors.
Click here to read Complete framework
About Securities and Exchange Board of India (SEBI):
It was established as a statutory body in 1992 and the provisions of the SEBI India Act, 1992 (15 of 1992) came into force on January 30, 1992.
Chairperson– Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra

ECONOMY & BUSINESS

RECPDCL & BHEL Signed MoU to Develop Utility-Scale Renewable Energy ProjectsOn 15th March 2024, REC Power Development and Consultancy Limited(RECPDCL) and Bharat Heavy Electricals Limited (BHEL) signed a Memorandum of Understanding (MoU) to jointly develop Utility-Scale Renewable Energy Projects across India.

• Aim: To contribute to the clean energy targets of the nation, through a dedicated Special Purpose Vehicle (SPV).

Note: 
i.RECPDCL a wholly owned subsidiary of REC Limited, provides electric distribution services. REC Limited is a ‘Maharatna’ Central Public Sector Enterprise(CPSE) under the Ministry of Power.
ii.BHEL is a Maharatna CPSE under the Ministry of Heavy Industries and Public Enterprises.
Key People: Vivek Kumar Dewangan, Chairman and Managing Director (CMD) of REC; Koppu Sadashiv Murthy, CMD of BHEL; Rajesh Kumar, Chief Executing Officer (CEO) of RECPDCL were present during the signing.
About the MoU: 
i.Under this MoU, RECPDCL and BHEL will establish an SPV to develop Renewable Energy (RE) products to supply Distribution Company(Discoms).
ii.The SPV will benefit from the core engineering expertise of BHEL and the infrastructure investment expertise of REC Limited.
Key Points:
i.Initially, the SPV will focus on catering energy requirements of the Commercial and Industry (C&I) Segment with a capacity of 1 Gigawatt(GW).
ii.The SPV will play a major role in achieving India’s target of 500 GW of RE capacity by 2030 and contribute to a cleaner and greener future.
Note: Renewable energy projects of 10 Mega Watt(MW) or more are referred to as utility-scale projects.
About REC Power Development and Consultancy Limited(RECPDCL): 
RECPDCL was formerly known as REC Power Distribution Company Limited.
Chairman– Vivek Kumar Dewangan
CEO–  Rajesh Kumar
Incorporated in 2007
Headquarters– Gurugram, Haryana
About Bharat Heavy Electricals Limited (BHEL):
CMD– Koppu Sadashiv Murthy
Headquarters– New Delhi, Delhi
Incorporated in 1964

AWARDS & RECOGNITIONS

T M Krishna selected for Sangita Kalanidhi Award of Music Academy
Thodur Madabusi Krishna (TM Krishna), a renowned Carnatic vocalist & Ramon Magsaysay Award (2016) recipient, has been selected for the Sangita Kalanidhi award 2024 by The Music Academy, Madras in Chennai, Tamil Nadu(TN).

• He is recognized for “his powerful voice,” “adherence to tradition when it comes to the art,” “focusing on its exploratory as opposed to tightly defined structures,” and for using music as “a tool for social reform.”
• He has also authored several books like The Spirit of Enquiry (2021), ‘Sebastian and Sons: A Brief History of Mridangam Makers(2020), and ‘A Southern Music: The Karnatic Story(2016).

Other Awards:
i.The Music Academy, Madras has also honoured,

• Mohiniyattam exponent Neena Prasad with Nritya Kalanidhi.
• Mridangam guru Professor Parasalla Ravi and Carnatic vocalist Geetha Raja with Sangeet Acharya Awards.
• S. Narasimhan, S. Venkatesan, and H. K. Narasimhamurthy with TTK awards(in memory of TT Krishnamachari).
• Dr. Margaret Bastin will receive the Musicologist Award.

ii.The awards will be presented at the 98th Annual Conference and Concerts of The Music Academy, which will be held between 15th December 2024 and 1st January 2025.

APPOINTMENTS & RESIGNATIONS

Vladimir Putin won 5th term as the President of RussiaRussian President Vladimir Putin (71 years old) has secured a record fifth term as President of Russia by winning the 2024 Presidential elections. He secured around 88%(87.97%) of the total votes.

• He is scheduled to be inaugurated on 7th May 2024.
• With this new 6-year term, Putin becomes the longest-serving Russian or Soviet leader in history since Joseph Stalin and the longest-reigning president in post-Soviet Russia.

Note: Joseph Stalin served as leader of the Soviet Union from 1924 until his death in 1953.
About Vladimir Putin:
i.Vladimir Putin was born in Leningrad on October 7, 1952.
ii.He served as Prime Minister (PM) of Russia in 1999 under the Premiership of Boris Yeltsin.
iii.In December 1999, he became the acting President of Russia after Yeltsin resigned.
iv.He served as President of Russia from 2000 to 2004, 2004-2008, 2012 to 2018, and 2018 to 2024.
v.He also served as the PM of Russia from 2008 to 2012.
Awards and honours: 
i.Time magazine named Vladimir Putin as TIME’s Person of the Year in 2007.
ii.The China International Peace Research Centre awarded the Confucius Peace Prize to Putin in 2011.
About Russia
Prime Minister– Mikhail Mishustin
Capital– Moscow
Currency– Russian ruble

ACQUISITIONS & MERGERS

CCI Approvals on 19th March 2024On 19th March 2024, The Competition Commission of India (CCI) has approved the following,
i.Acquisition of Kesoram Cement Business from Kesoram Industries Limited by UltraTech Cement Limited
ii.Acquisition of certain shareholding of Shriram Investment Holdings Private Limited (SIHL) by Shriram Ownership Trust(SOT).
CCI approves Ultratech’s acquisition of Kesoram’s cement unit
Proposed combination:
UltraTech Cement Limited will acquire the Kesoram Industries Limited’s grey cement business through a composite scheme of arrangement and an Implementation Agreement dated November 30, 2023, under Sections 230 to 232 of the Companies Act, 2013.
Key Points:
i.UltraTech, a publicly listed Indian company, manufactures and sells grey cement, white cement, ready-mix concrete, clinker, and building products in India.
ii.Kesoram manufactures grey cement through its Kesoram Cement Business and is involved in other sectors such as rayon, transparent paper, and chemicals in India, which are not part of the Proposed Combination.
CCI approves acquisition of certain shareholding of SIHL by SOT
Proposed combination:
Shriram Ownership Trust (SOT) will buy a 9.44% stake in Shriram Investment Holdings (SIHL) held by APRN Enterprises Private Limited (APRN) and another 20% held by Piramal Enterprises Limited (PEL).

• SOT and Shriram Capital Private Limited (SCPL) already hold a combined 70.56% stake in SIHL.

Key Points:
i.SIHL is an unregistered core investment company with assets worth Rs. 3,976 crore and a turnover of Rs. 1,881 crore as of March 31, 2023.
ii.The Shriram Group aims to increase its stake in SIHL and its financial services business by acquiring shares from PEL and APRN, who are minority shareholders expressing interest in exiting.

SCIENCE & TECHNOLOGY

Indian Army Introduces New-Tech Unit “STEAG”On 18th March 2024, the Indian Army launched the “Signals Technology Evaluation and Adaptation Group (STEAG)”, a first-of-its-kind specialised technology unit to enhance its communication infrastructure, in New Delhi, Delhi.
Note: This is not a new raising, the Indian Army has transformed 21 Signals Group with the fresh mandate as STEAG.
About STEAG:
i.The STEAG unit will be headed by a Colonel-rank officer from the Corps of Signals, a combat support arm handling military communications.
ii.STEAG unit with a strength of around 280 personnel will operate under the Signals Directorate. The unit will be based in Delhi.
Function: 
i.The STEAG unit will carry out technical scouting, evaluation, development, and management of core Information and communication technology (ICT) solutions.
ii.It will provide user interface support by maintaining and upgrading available contemporary technologies.
iii.The unit will develop customized technologies for a wide range of wired and wireless systems to include electronic exchanges, mobile communications, Software Defined Ratios (SDR), Electronic Warefare Systems (EWS), 5G and 6G networks, quantum technologies, artificial intelligence(AI), machine learning(ML) etc.
Key Points:
i.The STEAG unit will boost the Indian army’s capabilities in the digital domain.
ii.This will meet the requirements of modern warfare which necessitates new equipment to provide seamless communication support to units and formations during operations.
iii.STEAG, in line with the efforts of Atmanirbhar Bharat and Start-Up India, will bridge the between the Armed Forces and the industry & academia.
About Indian Army
Chief Army Staff– General Manoj Pande
Vice-chief of Army Staff– General Upendra Dwivedi
Headquarters– New Delhi, Delhi

OBITUARY

Padma Shri Awardee & Handloom artist Kapil Dev Prasad Passed Away Padma Shri Awardee Kapil Dev Prasad, a renowned handloom artist, passed away at the age of 70 in Basman Bigha village, Nalanda district, Bihar.
About Kapil Dev Prasad:
i.Kapil Dev Prasad has been promoting the traditional art of handloom after receiving formal training at the Biharsharif Nav Ratna Mahal school from 1963 to 1965.
ii.He received the Padma Shri award for art in 2023. He was honoured for popularising Bihar’s Buddhist art of weaving Bawan Buti (52 motifs) on Sarees.
About Bawan Buti:
i.‘Bawan Buti’ (52 motifs) are traditionally woven on pit-loom or frame-loom by using extra weft threads to create 52 motifs along the sari’s length.
ii.The saris originate in the Nalanda district of Bihar, one of the important Buddhist centre since 5th century.
iii.The designs include Buddhist iconographies such as the peepal, the bull, the lotus, the stupa, the deer and the elephant.

BOOKS & AUTHORS

SIDBI’s CMD S. Ramann Presented 2 Books to Finance Minister Nirmala Sitharaman
S.Ramann, Chairman & Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI) presented 2 books titled ‘Prabhaav’ and  ‘Diagnostic Mapping of Cluster- Charting the Path Ahead through Intervention’ to Union Minister, Nirmala Sitharaman, Ministry of Finance.
i.Prabhaav is an impact assessment report on the Fund of Funds for Startups (FFS) released by SIDBI. The 3rd-party assessment of the scheme was undertaken by CRISIL.

• It details the outcomes of FFS which made a commitment of Rs 10,000 crore to 100 Alternative Investment Funds (AIF).

ii.Diagnostic Mapping of Cluster is the first of SIDBI’s information series aimed at kindling cluster development.

• The book identified the mapping of skill, technology development, and credit gap as important issues of policy interventions.

IMPORTANT DAYS

International Day of Happiness 2024 – March 20 The United Nations (UN) International Day of Happiness is annually observed across the globe on 20 March to recognise the significance of well-being and happiness in people’s lives globally and advocate for inclusive, equitable, and balanced economic growth.
The theme of International Day of Happiness 2024 is ‘Happier Together.’
Background:
i.In 2012, the UN General Assembly (UNGA) adopted a resolution (A/RES/66/281) and proclaimed the 20 March of every year as the International Day of Happiness.
ii.The first-ever International Day of Happiness was observed on 20 March 2013.
World Happiness Report (WHR) 2024:
According to the World Happiness Report (WHR) 2024, Finland has been named the World’s happiest country for the 7th consecutive time. Finland is followed by Denmark, Iceland, Sweden and Israel.

• India has maintained its rank at 126th (out of 146 countries), which indicates low levels of happiness.

>> Read Full News

UN French Language Day 2024 – March 20The United Nations (UN) French Language Day is annually observed across the globe on 20 March to celebrate multilingualism and cultural diversity, and to promote equal use of all 6 official languages of the UN throughout the Organisation.

• This Day is part of an initiative to raise awareness and respect for the history, culture, and achievements of each of the 6 official languages.

The Day is recognised by the International Organization of La Francophonie (OIF) as the International Day of La Francophonie or International Francophonie Day.

• In 2024, the OIF marks the celebrations of the International Day of La Francophonie under the theme “Create, innovate, undertake in French.”

Background:
i.On 21 February 2010, on the occasion of International Mother Language Day, the UN Department of Public Information (DPI) announced the launch of “Language Days at the UN”, a new initiative that aims to celebrate multilingualism and cultural diversity.
ii.The UN observes 6 Language days annually dedicated to the 6 official languages of the UN namely, Arabic, Chinese, English, French, Russian, and Spanish.
>> Read Full News

World Oral Health Day 2024 – March 20World Oral Health Day(WOHD) is annually observed across the globe on 20th March to create awareness about the importance of oral health and to support the efforts to reduce the burden of oral diseases on individuals, health systems and economies.

• The observance is annually led by the FDI World Dental Federation(Fédération dentaire internationale-FDI)

The WOHD Campaign theme for 2024-2026 is “A Happy Mouth is… A Happy Body”.
Background:
i.The inaugural World Oral Health Day was observed on 12th September 2007 by FDI to mark the birth anniversary of Dr. Charles Godon, the founder of the FDI.
ii.In 2013, the observance of WOHD was moved from 12th September to 20th March to avoid a conflict with the FDI World Dental Congress, which annually takes place in September.
About FDI World Dental Federation(FDI):
The FDI is a non-governmental organization (NGO) and one of the oldest professional organizations in the world.
Executive Director– Enzo Bondioni
Headquarters– Geneva, Switzerland
Established – 1900
>> Read Full News

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