Current Affairs 24 & 25 March 2024

We are here for you to provide the important Recent and Latest Current Affairs 24 & 25 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

Exercise Tiger Triumph – 24: 3rd Edition of India & USA Tri-Service HADR Exercise Commenced in AP“Exercise Tiger Triumph – 24”, the 3rd edition of the Bilateral Tri-Service Humanitarian Assistance and Disaster Relief (HADR) Amphibious Exercise between India and the United States of America (USA) was commenced on 18th March 2024 in Visakhapatnam, Andhra Pradesh (AP).
Aim: To share best practices and Standard Operating Procedures in undertaking multinational HADR operations and refine Standard Operating Procedures (SOPs) to enable rapid and smooth coordination between forces of both countries.
Participating Units:
i.Indian Navy (IN): IN is represented by a Landing Platform Dock, Landing Ship Tanks including Landing Crafts and helicopters, guided missile Frigate and Long Range Maritime Reconnaissance Aircraft.
ii.Indian Army (IA): The participating units from IA include one infantry battalion group including mechanised forces.
iii.Indian Air Force(IAF): IAF will be represented by medium lift aircraft, transport helicopters and a Rapid Action Medical Team (RAMT).
Note: Special Operations Forces (SOF) from all three services will also participate in the exercise.
iv.USA Navy: The US Task Force would deploy USA Navy Landing Platform Dock including its integral Landing Craft Air Cushions and helicopters, a Destroyer, maritime reconnaissance and medium lift aircraft, along with US Marines Corps and US Army.
Phases:
Harbour Phase: 
i.The Harbour Phase of the exercise is being conducted at Visakhapatnam from 18th March to 25th March 2024.
ii.Activities such as pre-sail discussions, Subject Matter Expert Exchange, and deliberations on planning and execution procedures of various tasks will be carried out during this phase.
Sea phase:
i.The Sea Phase of the exercise will be conducted from 26th March to 31st March 2024. The troops will undertake Maritime, Amphibious and HADR operations.
ii.In this phase, a joint Command and Control Centre and a Joint Relief and Medical Camp will be conducted by the units of India and the USA.
Key Points:
i.On 19th March 2024, the exercise was held onboard the Indian Naval Ship (INS) Jalashwa.
ii.A Planning and Coordination Exercise will also be conducted parallel to Exercise Tiger Triumph – 24 to discuss and refine Standard Operating Procedures (SOP).
iii.The first Tiger Triumph exercise was held in 2019 in Visakhapatnam.

Rajasthan Becomes 1st State to Launch Water Resource DashboardOn 16th March 2024, Rajasthan became the 1st Indian state to launch the State Water Resources Information Systems dashboard to forecast drought and to enable better water management based on water availability.

• Suresh Singh Rawat, Minister of Water Resources, Government of Rajasthan launched the initiative at the event held in Sinchai Bhawan, Jaipur, Rajasthan.
• The portal was developed by the Department of Water Resources under the National Hydrology Project.

About State Water Resources Information Systems:
i.The portal offers real-time information about water availability, which will benefit farmers in planning their crop cycles and irrigation.
ii.The complete data of 805 dams, daily data of 242 dams and the live data of 88 dams will be available in the portal.
iii.The rainfall module of the portal will enable the users to view and download the analyzed data of 326 rain gauge stations from 1957 till date.
iv.Information about canal network will be available in the Canal module. This network has also been mapped on Geographic Information System(GIS).

• The data of Ganga and Bhakra canal system, Bisalpur, Jawai, Gudha Jawahar Sagar dams will be available live through SCADA (supervisory control and data acquisition).

v.Pre and post-monsoon data of 9022 piezometers/dig wells/observation wells from 2011 will be available in the groundwater module.
vi.The real time data of rainfall, waterlogging, temperature etc. for every hour will be available in the Real-Time Data Ambition System(RTDAS). 
About National Hydrology Project
i.It is a Central Sector Scheme implemented by the Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti, with the support of the World Bank.
ii.It aims to extent, quality and accessibility of water resources information and to strengthen the capacity of targeted water resources management institutions in India.
About Rajasthan
Chief Minister- Bhajan Lal Sharma
Governor- Kalraj Mishra
National Park– Desert National Park; Keoladeo Ghana National Park
Wildlife Sanctuary– Mount Abu Wildlife Sanctuary; Sitamata Wildlife

MeitY & NIXI launched BhashaNet portal at Universal Acceptance Day Event The Ministry of Electronics and Information Technology (MeitY) and the National Internet Exchange of India (NIXI) launched the BhashaNet portal to advance the vision of digital inclusion.

• The portal was launched during the Universal Acceptance Day India event held on 21st March 2024 at Dr. Ambedkar International Centre in New Delhi, Delhi.
• BhashaNet aims to create a multilingual internet where local language website names and email IDs work seamlessly everywhere.

Theme:
The event was held under the theme “BhashaNet: Impetus Towards Universal Acceptance”.

• The theme highlights the commitment of Meity and NIXI to ensure that everyone can fully participate in the digital world irrespective of linguistic or textual barriers.

About Regional Universal Acceptance Day Event- India: 
i.The event was organised by MeitY and NIXI with the support of Internet Corporation for Assigned Names and Numbers (ICANN) to advance digital inclusion and promote universal acceptance across India.
ii.This regional event prepares for the upcoming Global Universal Acceptance Day which will take place on 28th March 2024 in Belgrade, Serbia.
About Universal Acceptance Day:
i.Universal Acceptance Day is annually celebrated to create awareness about the importance of ensuring that all domain names and email addresses can be used by all internet users.
ii.UA Day is annually organised by the community-led Universal Acceptance Steering Group (UASG) and ICANN.
iii.The first-ever UA Day was held on 28th March 2023.
About National Internet Exchange of India (NIXI):
NIXI is a not-for profit organization registered under section 8 of the Companies Act, 2013
Chief Executive Officer(CEO)– Dr. Devesh Tyagi
Incorporated on 19th June 2003
Headquarters– New Delhi, Delhi

INTERNATIONAL AFFAIRS

IMT TRILAT-2024: 2nd edition of India, Mozambique, Tanzania Maritime Exercise Begins2nd edition of India Mozambique Tanzania (IMT) Tri-Lateral (TRILAT) Exercise (IMT-TRILAT 2024), the joint maritime exercises between the navies of India, Mozambique and Tanzania commenced on 21st March 2024.  The exercise is set to conclude on 29th March 2024. 
Aim: To strengthen cooperation between India, Mozambique, and Tanzania.
Note: The first edition of the IMT TRILAT exercise was held in October 2022 at Dar Es Salaam, Tanzania.
About IMR TRILAT 2024: 
i.The exercise is scheduled to be held in two phases, the harbour Phase (21st to 24th March 2024) and the Sea Phase (24th to 27th March 2024).
ii.As a part of the exercise, the Indian Naval Ship (INS) Tir and INS Sujata will engage with the respective Navies at the ports of Zanzibar in Tanzania and Maputo in Mozambique.
iii.The exercise will conclude with a joint debrief scheduled at Nacala, Mozambique.

• During the exercise, Training visits for sea trainees of 106 Integrated Officers Training Course(IOTC) will be conducted at the respective ports.

Harbour Phase: 
i.Starting with the Planning Conference, the harbour phase includes joint harbour training activities like Damage Control, Fire Fighting, Visit Board Search and Seizure procedures, Medical Lectures, Casualty Evacuation and Diving operations.
ii.The INS Tir and Sujata will be open for visitors and partake in sports & cultural exchanges with the Navies of Tanzania and Mozambique.
Sea Phase: 
i.The Sea phase of IMT TRILAT-2024 includes practical aspects of countering asymmetric threats, Visit Board Search and Seizure procedures, boat handling, manoeuvres and firing exercises.
ii.A joint Exclusive Economic Zone (EEZ) surveillance is also planned during the sea phase.
About Indian Navy:
Chief of the Naval Staff (CNS)- R Hari Kumar
Headquarters- New Delhi, Delhi
Motto- “Sam no Varunah” meaning: “Be auspicious unto us Oh Varuna”

‘Operation Indravati’ Launched to Evacuate Stranded Indians in Haiti
The Government of India (GoI) launched ‘Operation Indravati’ to evacuate stranded Indians in Haiti after armed gangs seized control of most of the Caribbean nation.

• On 21st March 2024, Union Minister Subrahmanyam (S.) Jaishankar, Ministry of External Affairs (MEA), announced that the twelve Indians were evacuated through Operation Indravati.
• Acting President and Prime Minister Ariel Henry of Haiti resigned on 12th March 2024, due to the ongoing crisis.

About Haiti:
Haiti, Located between the Caribbean Sea and the North Atlantic Ocean, borders the Dominican Republic on the eastern side of the island. Its closest neighbors include Jamaica to the west and Cuba to the northwest.
Capital – Port-au-Prince
Currency – Haitian Gourde

BANKING & FINANCE

IOB Launches 2 Gold Loan Products IOB Gold Powered Card & Jewel Loan SuvidhaIndian Overseas Bank (IOB) has launched 2 new jewel loan products:

• IOB Gold Powered Card to provide borrowers with instant access to a card linked directly to their jewel loan overdraft accounts, and
• Jewel Loan Suvidha, to serve the unique needs of housing loan borrowers, not only from IOB but also from other Financial Institutions (FIs).

IOB Gold Powered Card:
i.IOB Gold Powered RuPay Credit Card can be sanctioned as an overdraft facility for consumption and contingencies.
ii.Limit sanctioned based on borrower’s declaration; no speculative loans.
iii.Loan range: Rs. 25,000 to Rs. 25 lakh.
iv.Target Group: Individuals above 18 years with gold assets and IOB accounts (Single/Joint), including staff. No age limit for exit.
v.It will provide the flexibility for borrowers to service both interest and principal at the maturity of the loan i.e., 12 months from the date of sanction.
vi.Cash withdrawal limit: Rs 20,000 per transaction; Rs 1 lakh daily.
v.The transaction limit for e-commerce and POS is Rs 25 lakh. Interest is charged only on the amount utilised.
Jewel Loan Suvidha:
i.Jewel Loan Suvidha is a non-speculative loan scheme for individuals against security of gold ornaments. This will offer reimbursement within a 12-month timeframe from the date of incurring expenses.
ii.Loan range: Rs 25,000 to Rs 50 lakh.
iii.Target: Individuals above the age of 18 with gold assets and housing loan accounts with IOB or with any bank or FIs and individuals with a steady source of income including pensioners.
Click here to know more about Jewel Loan Suvidha
About Indian Overseas Bank (IOB):
Managing Director (MD) & Chief Executive Officer (CEO)- Ajay Kumar Srivastava
Headquarters– Chennai, Tamil Nadu
Established on– 10 February 1937
Tagline– Good People to Grow with

ECONOMY & BUSINESS

Global Economic Outlook: S&P Global revised India’s GDP to 6.8% for FY25According to ‘Global economic outlook: March 2024’ released by S&P Global Market Intelligence India’s Gross Domestic Product (GDP) forecast  is revised to 6.8% for the fiscal year 2024-25 (FY25) from its prior prediction of 6.5% due to strong growth momentum and improving global prospects.

• For FY24, India’s GDP growth is revised to 7.3% from 6.9%
• The Indian economy is likely to grow 6.1% in FY26 and 6.2% in FY27.

Key Points:
i.In the first three quarters of FY24 (April 2024 – December 2024) Indian economy was expanded at 8.2%.
ii.The economic growth was higher than expected during the first three quarters of FY23.
iii.The economic growth in FY25 will be eased by lower public infrastructure spendings.
Inflation:
i.S&P Global also reduced inflation forecast to 5.1% from earlier estimate of 5.6% for FY25.
ii.For FY24, the average inflation is expected to be at 5.7%.
iii.It also lowered the FY26 inflation estimate to 4.9% from 5.15%.
iv.S&P Global Market is also expecting a possible rate cut by the Reserve Bank of India (RBI) in either June or August 2024.
Global Forecast:
i.S&P Global revised global growth projections to 2.6% from 2.3% for FY24.
ii.This revision is due to higher forecasts for growth in countries like United States of America (USA), United Kingdom (UK), and India.
iii.For FY25, the world economy is expected to grow at 2.6%.
iv.After experiencing a growth rate of 0.4% in the fourth quarter(Q4 – January to March) in FY24, the global economy is expected to grow at 0.8% in the second half (H2 –  July to December) of 2024.

SAIC Motor and JSW Group Launched a Joint Venture ‘JSW MG Motor India Pvt Ltd’ 
The new Joint Venture (JV) company ‘JSW MG Motor India Pvt Ltd’ was launched in collaboration between JSW Group and M G Motor India Private Limited, a wholly-owned subsidiary of Shanghai(China) based SAIC Motor.

• JV aims to have sold 1 million electric vehicles in India by 2030 and plans to launch new models, including New Energy Vehicles (NEVs), every three to six months starting in September 2024.
• It also plans to invest USD 750 million (about Rs 5,000 crore) to produce 300,000 units a year.
• Through this partnership, MG Motor will raise its annual production capacity from 100,000 to 300,000 units at its plant in Halol, Gujarat.
• JSW will own 35% of the stakes in the JV, while Everstone, a few dealers, and employees will own around 16%, bringing Indian investors’ total stake to 51%.

Note:
In January 2024, the Competition Commission of India (CCI) approved the acquisition of around 38% of the paid-up share capital of M G Motor India Private Limited by JSW Ventures Singapore Pte. Limited.

APPOINTMENTS & RESIGNATIONS

Naveen Jindal was Elected as President of Indian Steel Association
On 24th March 2024, Naveen Jindal, Chairman of Jindal Steel and Power (JSP), took charge as President of the Indian Steel Association (ISA), the apex body of the domestic steel industry.

• He succeeds Dilip Oommen, Chief Executive Officer (CEO) of ArcelorMittal Nippon Steel (AMNS) India, and Executive Vice President of ArcelorMittal.
• He will also hold the post as the Chairman of the Apex Committee, , the Governing body of ISA.

Note: Naveen Jindal was unanimously elected as the President of ISA by the Apex Committee.
About Naveen Jindal:
i.Naveen Jinda served as Member of Parliament(MP-Lok Sabha) representing the Kurukshetra constituency (Haryana) for 2 terms from 2004–2014.
ii.Jindal is the President of Flag Foundation of India, a non-governmental organization and the founding Chancellor of O. P. Jindal Global University in Sonipat, Haryana.
Note: As per the World Steel Association (World Steel), India is the second largest steel producer in the world.
About Indian Steel Association (ISA):
ISA is the apex body of the domestic steel industry and works collectively to highlight the issues of the sector.
ISA represents all the major Public Sector and Private Sector Steel Enterprises of India.
Headquarters– New Delhi, Delhi
Established in–  2014

SCIENCE & TECHNOLOGY

ISRO Successfully Conducts ‘Pushpak’ Reusable Launch Vehicle Landing Experiment at ATR in Chitradurga, KarnatakaOn 22nd March 2024, the Indian Space Research Organisation (ISRO) successfully conducted the “Pushpak” – Reusable Launch Vehicle Autonomous Landing Mission (RLV-LEX-02) at the Aeronautical Test Range (ATR) in Chitradurga, Karnataka.

• This landing is the 2nd of the series of experiments conducted by ISRO at ATR, with the first mission RLV-LEX-01 being conducted in 2023.

About the Mission:
i.Pushpak (RLV-Technology Demonstrator (TD)), the winged vehicle was lifted and released by an Indian Air Force (IAF) Chinook Helicopter at a 4.5 kilometer (km) altitude.
ii.After releasing at a distance of 4 km from the runway, Pushpak approached the runway autonomously, correcting cross-range and down-range dispersions, and executed a precise landing.
About Pushpak:
i.Pushpak RLV has been designed as an all-rocket and fully reusable single-stage-to-orbit (SSTO) vehicle.
ii.It includes several important elements like the X-34 testbed technology demonstrator, the X-33 advanced technology demonstrator, as well as the upgraded Delta Clipper-Experimental Advanced (DC-XA) flight demonstrator.
Simulated Conditions:
i.The mission successfully simulates the approach and high-speed landing conditions of RLV returning from space.
ii.ISRO has revalidated indigenously developed technologies in navigation, control systems, landing gear, and deceleration systems.
Reuse Capability:
i.The winged body and flight hardware and systems from RLV-LEX-01 were reused in this mission after certification.
ii.The observations from the RLV-LEX-01 strengthened the airframe structure and landing gear to tolerate higher loads.
iii.Repeated success could master the terminal phase maneuvering, landing, and energy management in a fully autonomous mode that is critical for future Orbital Re-entry missions.
Note: ISRO successfully conducted the RLV-LEX-01 in April 2023 at ATR, Chitradurga.
Mission Accomplishment:
The mission was accomplished by Vikram Sarabhai Space Centre (VSSC) in Thiruvananthapuram, Kerala along with the Liquid Propulsion System Centre (LPSC) and the ISRO Inertial Systems Unit (IISU).
Mission Team:
i.The team was guided by Sunil P, Program Director, Advanced Technology and Systems Program; VSCC;
ii.J Muthupandain, Project Director, RLV was the Mission Director; and
iii.B Karthik, Deputy Project Director, RLV was the Vehicle Director for this mission.
About Indian Space Research Organisation (ISRO):
Chairman – S. Somanath
Headquarters–  Bengaluru, Karnataka
Established in– 1969

Indian Army Inducts IDD&IS System along Northern Borders with China
The Indian Army (IA) has deployed initial batch of seven new indigenous Integrated Drone Detection and Interdiction Systems (IDD&IS) along the northern borders with China.

• The IDD&IS systems were togetherly developed by the Defence Research and Development Organisation (DRDO) and Bharat Electronics Limited (BEL).
• This Mark-1 variant IDD&IS was inducted by the Army Air Defence (AAD).
• Soft Kill: IDD&IS can jam signals of hostile drones through jamming technology, disrupting their operation at a range of 2 to 5 kilometers.
• Hard Kill: The systems are also equipped with lasers for physical destruction of drones within an effective range of over 800 meters.

Note: BEL is a Navratna Public Sector Unit (PSU) under the Ministry of Defence (MoD).

ENVIRONMENT

Brucethoa Isro: A New Species of Deep-Sea Isopod identified in Kerala is Named After ISRO
The researchers have discovered a new species of deep-sea isopod called ‘Brucethoa Isro’ off the Kollam coast in Kerala.

• The species is named after the Indian Space Research Organisation (ISRO), the national space agency of India for their successful space missions including ‘Chandrayaan-3’.
• Brucethoa Isro is a tiny fish-parasitic crustacean that resides within the gill cavity of the Spinyjaw greeneye (Chlorophthalmus Corniger), a fish species found off the Kerala coast.
• The species belongs to the genus Brucethoa. Brucethoa isro is the second species within this genus to be discovered in India.
• The discovery was published in the journal ‘Systematic Parasitology’.

SPORTS

Sharath Kamal to be India’s flag bearer; Mary Kom as the chef de mission of the Indian contingent at 2024 Paris OlympicsThe Indian Olympic Association (IOA) named table tennis player Achanta Sharath Kamal as India’s flagbearer for the 2024 Paris Olympics, set to be held from 26th July to 11th August 2024 in Paris, France.

• Sharath Kamal will be the 19th flag bearer for India at the Olympics.
• The IOA also appointed boxer Mangte Chungneijang Mary Kom as the chef de mission of the Indian Olympic contingent.
• Luge player Shiva Keshavan was appointed as the deputy chef de mission.
• Gagan Narang has been tasked with overseeing India’s operations at the shooting range at the Paris Olympics.

About Indian Olympic Association (IOA):
IOA is the governing body for the Olympic Movement and the Commonwealth Games in India.
President– P.T. Usha
Headquarters– New Delhi, Delhi
Established in– 1927
>> Read Full News

IMPORTANT DAYS

International Day of Forests 2024 – March 21 The United Nations (UN) International Day of Forests (IDF) is annually observed across the globe on 21 March to celebrate and raise awareness of the significance of all types of forests.
The theme for International Day of Forests 2024 is “Forests and Innovation: New Solutions for a Better World”.
Background:
i.On 21st December 2012, the UN General Assembly (UNGA) adopted the resolution A/RES/67/200 and proclaimed the 21 March of each year as the International Day of Forests.
ii.The 1st ever International Day of Forests was observed on 21 March 2013.
>> Read Full News

International Day of Nowruz 2024 – March 21 The United Nations (UN) International Day of Nowruz is annually observed across the globe on 21 March to foster cultural exchange and promote peace, solidarity, and good neighbourliness.

• The Day aims to contribute to cultural diversity and friendship among people and different communities.

Note: The word Nowruz (Novruz, Navruz, Nooruz, Nevruz, Nauryz), means new day; its spelling and pronunciation may vary by country.
Background:
i.International Nowruz Day was proclaimed under the agenda item of “culture of peace” at the 64th session of the UN General Assembly (UNGA).
ii.On 23 February 2010, the UNGA during its 71st plenary meeting, officially adopted the resolution A/RES/64/253 and recognised 21 March as the International Day of Nowruz.
iii.The 1st ever International Day of Nowruz was observed on 21 March 2010.
>> Read Full News

World Puppetry Day 2024 – March 21World Puppetry Day is annually observed across the globe on 21st March to recognise puppetry as a global art form. The day also aims to promote and honour the puppeteers across the world.

• The theme of WPD 2024 is “The Climate”. 

The annual observance is led by the Union Internationale de la Marionnette (UNIMA – International Puppetry Association).
Background:
i.UNIMA launched World Puppetry Day in 2003 as a tool to promote puppetry.
ii.The first–ever World Puppetry Day was celebrated on 21st March 2003.
About Union Internationale de la Marionnette (UNIMA):
UNIMA is a non-governmental organization affiliated to UNESCO.
President– Karen Smith
Founded on 20th May 1929
Headquarters– Charleville-Mézières, France
>> Read Full News

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