Current Affairs 24 March 2021

We are here for you to provide the important Recent and Latest Current Affairs 24 March 2021, which have unique updates of Latest Current Affairs 2021 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

PM Modi launches ‘Jal Shakti Abhiyan:Catch the Rain’; MoA signed for implementation of Ken Betwa Link Project

On Occasion of the World Water Day (March 22, 2021), Prime Minister (PM) Narendra Modi launched/witnessed two key events

• Launch of ‘Jal Shakti Abhiyan:Catch the Rain’ campaign to undertake water conservation at grass-root level through people’s participation.

‘Jal Shakti Abhiyan:Catch the Rain’

• It is an initiative of the Ministry of Jal Shakti under National Water Mission (NWM).
• Theme – ‘Catch the rain, where it falls, when it falls’.
• Objective – To create rainwater harvesting structure suitable to climatic conditions & ensuring proper storage of rainwater.
• It will be undertaken in both rural and urban areas from 22nd March, 2021 – 30th November, 2021.

KBLP – India 1st Project under National Perspective Plan for Interlinking of rivers
KBLP is the 1st Project under the National Perspective Plan for interlinking of rivers. Under this project, water from the Ken river (in Madhya Pradesh) will be transferred to the Betwa river (in Uttar Pradesh). Both rivers are tributaries of river Yamuna.

To implement the Ken Betwa Link Project (KBLP), Memorandum of Agreement (MoA) between the Union Minister of Jal Shakti(Presently – Gajendra Singh Shekhawat) and the Chief Ministers of Madhya Pradesh (Currently- Shivraj Singh Chouhan) and Uttar Pradesh (Currently- Yogi Adityanath) was signed.

• Objective – To Transfer surplus water from Ken river to Betwa river to irrigate the drought-prone Bundelkhand region.

About Ministry of Jal Shakti:
Union Minister – Gajendra Singh Shekhawat (Lok Sabha MP, Constituency – Jodhpur, Rajasthan)
Minister of State – Rattan Lal Kataria (Lok Sabha MP, Constituency – Ambala, Haryana)
<<Read Full News>>

Government forms 11 Committees to drive India to a Circular EconomyNITI Aayog has stated that in order to expedite the Transition of India from a Linear Economy to a Circular Economy, Government has formed 11 Committees for 11 focus areas.

• The committees will be led by the concerned Line ministry and will comprise officials from MoEFCC (Ministry of Environment, Forest and Climate Change) & NITI Aayog, domain experts, academics and industry representatives.
• The committees will prepare action plans for Transition to Circular Economy in respective focus areas.

About Ministry of Environment, Forest and Climate Change (MoEFCC):

Union Minister – Prakash Javadekar (Rajya Sabha MP representing Maharashtra)
Minister of State – Babul Supriyo (Lok Sabha MP, Constituency – Asansol, West Bengal)<<Read Full News>>

Labour & Employment Minister, Santosh Kumar Gangwar Released ‘Compendium on CPI for Industrial Workers’

On 18^th March 2021, Santosh Kumar Gangwar, Minister of State (Independent Charge), Ministry of Labour and Employment Released Compendium on Consumer Price Index for Industrial Workers(CPI-IW) (Volume I-IV, 1945 to 2020) which will be helpful for Researchers, Policy makers and Students.

• This Compendium is a first of its kind publication.It is Compiled by Labour Bureau, Ministry of Labour and Employment. It was released while Labour Bureau is celebrating the centenary year.

What is Consumer Price Index for Industrial Workers(CPI-IW)?
CPI-IW is an economic indicator that measures the change in price of goods and services consumed by the indexed populations.
Key Points:
i.The Compendium contains detailed and comprehensive information and explanations on compiling consumer price index (CPI).
ii.The Compendium was formed by compiling the data in the form of Index from 1945 to till date.
iii.It Provides a comprehensive details of Key Concepts, definitions, methodology & the Index numbers compiled for CPI-IW.
Composition of Compendium:
i.The information ranges from interim series of 1944 and 1949 to 1960 to 1982 and to the latest gone by series of base 2001 for the period January 1945 to August 2020.
ii.The first volume has chapters related to interim series and index data on base 1944 and 1949 for the period January 1945 to March 1954 and for April 1954 to July 1968, respectively.
iii.The second volume provides index data on 1960 series for the period August 1968 to September 1988.
iv.The third and fourth volume give similar information on base 1982 for the period October 1988 to December 2005 and on base 2001=100 for January 2006 to August 2020.
Benefits of Compendium:
Digitization of historical data on CPI-IW (consumer price index for industrial workers) in the shape of compendium will bridge the data gap on the subject and will be an inspiration to other agencies.
What is CPI?
i.CPI is an index measuring retail inflation in the economy by collecting the change in prices of most common goods and services used by consumers.
ii.In India, there are four consumer price index numbers, which are calculated, and these are as follows:  CPI for Industrial Workers (IW) CPI for Agricultural Labourers (AL) CPI for Rural Labourers (RL) and CPI for Urban Non-Manual Employees (UNME).
iii.Ministry of Statistics and Program Implementation collects CPI (UNME) data and compiles it, the remaining three are collected by the Labour Bureau in the Ministry of Labour.

MoD signs contract with MDSL for supply of 1, 300 Armored Light Specialist Vehicles to Indian ArmyMinistry of Defence (MoD) has signed a contract worth INR 1, 056 Crore with Mahindra Defence Systems Ltd (MDSL) for supply of 1, 300 Armored Light Specialist Vehicles (ALSV) to Indian Army.  The Light Specialist Vehicle will be indigenously designed and developed by MDSL.

• The induction of 1, 300 ALSV is expected to be completed in 4 years.
• The contract is a flagship project to showcase the indigenous manufacturing capabilities of the Indian Defence Industry. It will be along the lines of ‘Atmanirbhar Bharat Abhiyan’ & ‘Make in India’ initiative of India.
• It is the 1st major contract for an ALSV that was designed and developed completely by private sector in India with Intellectual Property Rights within India.

Armored Light Specialist Vehicle (ALSV)

• It is capable of performing both Counter-Terrorist operations & Conventional operations.

About Mahindra Group:
Mahindra Defence Systems Ltd (MDSL) is the defence business venture of Mahindra Group
Chairman – Anand Mahindra
Headquarters – Mumbai, Maharashtra
<<Read Full News>>

Bihar Becomes 1st State in India to implement ‘Ethanol Production Promotion Policy 2021’Bihar Cabinet has approved the state’s own Ethanol policy called ‘Ethanol Production Promotion Policy, 2021’.  The approval has made Bihar as the 1st State in India to implement Ethanol Promotion Policy under the National Policy of Biofuels, 2018.

• Objective – To make Bihar an ethanol hub & as investors’ coveted destination.
• The policy allows Bihar to directly make ethanol from Maize, Molasses, broken rice & rotten grains.

Highlights of the Policy

• Investors will get a 15% Capital subsidy (maximum of INR 5 Crore).
• Through this policy, Bihar government aims to produce around 50 Crore litres of Ethanol each year.

Targets

• At present, Bihar has been producing 12, 000 crore litre ethanol per year. It is the 5th highest ethanol-producing state in India (Top 4 are Uttar Pradesh, Maharashtra, Karnataka & Tamil Nadu).
• At present, bioethanol blending in petrol in India stands at 6.2%, India has set a target of 20% Bioethanol blending of petrol by 2025 (the deadline has been moved from 2030 to 2025).

About Bihar
Chief Minister – Nitish Kumar
Capital – Patna
<<Read Full News>>

UNOPS & Denmark partners to provide Technical Support for Jal Jeevan Mission in UPOn 22nd March 2021, the World Water Day, Government of Denmark and the United Nations Office for Project Services (UNOPS) entered into a partnership to provide strategic technical support for implementing Jal Jeevan Mission in Uttar Pradesh.

• 11 water-scarce districts of Bundelkhand & Vindhya regions of Uttar Pradesh will be assisted with scalable delivery models by UNOPS.

Sustainable Development Goal – 6 (SDG-6)
India & the World is targeting to achieve the SDG-6, “Clean Water & Sanitation for All” by 2030.
About Denmark:
Prime Minister – Mette Frederiksen
Capital – Copenhagen
About United Nations Office for Project Services (UNOPS):
Formed – December, 1973
Headquarters – Copenhagen, Denmark
<<Read Full News>>

INTERNATIONAL AFFAIRS

More than 450 Million Children reside in areas of Extremely High Water Vulnerability: UNICEF reportAccording to the report  ‘Reimagining WASH:Water Security For All’ released by UNICEF (United Nations Children’s Fund), globally more than 1.42 Billion people, including 450 million children live in areas of high, or extremely high, water vulnerability.

• It essentially means that globally, 1 in 5 children worldwide do not have enough water to meet their everyday needs.
• Eastern and Southern Africa regions have the highest proportion of children (58%) living in areas with extremely high water vulnerability. It is followed by West & Central Africa (31%), South Asia (25%), and the Middle East (23%)
• South Asia is home to the largest number of children living in areas of high or extremely high water vulnerability – more than 155 Million children.
• The report is part of UNICEF’s ‘Water Security for All’ initiative.
• Children in more than 80 countries live in areas with high or extremely high water vulnerability.
• More than 2 crores (20 Million) children in India are experiencing extremely high water vulnerability.

‘37 Hotspots’

• The report has highlighted 37 hot-spot countries where children are faced with High Water Vulnerability.

Goal

• UNICEF has set a goal to reach 450 Million Children & their families (1.42 Billion people) with resilient solutions for improving the water vulnerability by 2025.
• All children to have access to a safe and affordable water supply and to live in water secure communities by 2030.

About United Nations Children’s Fund (UNICEF) :
Executive Director– Henrietta Holsman Fore
Headquarter– New York, USA
<<Read Full News>>

BANKING & FINANCE

Danish Red Cross Launched the World’s First Volcano Cat BondOn March 22, 2021, The Danish Red Cross, Denmark’s branch of the Red Cross has sponsored and launched the world’s first Catastrophe Bond (cat bond) for Volcano-related disasters with the support of several financial firms.

Key Points about the bond:

• The cat bond covers 10 volcanoes, which aims to raise up to $3 million and will transfer money from investors to the Danish Red Cross for aid in the aftermath of an eruption.
• The volcanoes under the bond are Popocatepetl (North America’s second-highest volcano), Nevado del Ruiz, Cotopaxi, Tungurahua, Pichincha, Merapi, Raung, Villa Rica, Fuego, and Mt. Cameroon
• Initial investors include Plenum Investments, Schroder Investment Management and Solidum Partners.

About the Danish Red Cross:
President – Sven BAK-JENSEN
Headquarters – Copenhagen, Denmark
<<Read Full News>>

RBI set up a 5-member External Advisory Committee headed by Shyamala Gopinath to Evaluate Banking ApplicationsOn March 22, 2021, the Reserve Bank of India(RBI) set up a five-member Standing External Advisory Committee (SEAC) which is headed by former RBI Deputy Governor Shyamala Gopinath, for evaluating applications for universal banks and small finance banks(SFBs).
Key points about the committee:

• Tenure: The tenure for SEAC will be for 3 years
• Key Function: Applications for universal banks and SFBs will first be evaluated by the RBI to ensure prima facie eligibility of the applicants, after which SEAC will evaluate the applications.
• Secretarial support to the committee would be provided by RBI’s Department of Regulation.
• RBI has already indicated the constitution of SEAC in the guidelines for “on-tap” licensing of universal banks in the private sector, 2016, and “on-tap” licensing of SFBs, 2019.

About Reserve Bank of India (RBI):

• Other than the Government of India(GoI), the RBI is the sole body authorised to issue banknotes in India.

Facilities used by RBI for the printing of notes:

• The Security Printing and Minting Corporation of India Limited (SPMCIL), a wholly-owned company of the GoI, has printing presses at Nashik, Maharashtra and Dewas, Madhya Pradesh.
• The Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), owned by the RBI, has printing facilities in Mysore, Karnataka and Salboni, West Bengal.
• For the minting of coins, SPMCIL has four mints at Mumbai, Noida, Kolkata and Hyderabad for coin production.
• GoI mint coins and also issue Rs 1 notes.

<<Read Full News>>

AWARDS & RECOGNITIONS        

Govt conferred Gandhi Peace Prize 2020 to Sheikh Mujibur Rehman and for 2019 to Sultan Qaboos bin Said Al SaidThe Union government conferred Gandhi Peace Prize to the Late Sultan Qaboos bin Said Al Said of Oman for the year 2019 and to Bangabandhu Sheikh Mujibur Rahman, for the year 2020.

• The Jury of Gandhi Peace Prize is chaired by Prime Minister, Narendra Modi

Key points: 

• Sultan Qaboos bin Said Al Said, the visionary leader of Oman who died in January 2020 was conferred with the Gandhi peace prize 2019 for recognizing his outstanding contributions for social, economic and political transformation through non-violent and other Gandhian methods
• Sheikh Mujibur Rahman the “Father of the Nation” of Bangladesh conferred with Gandhi peace prize 2020 for recognizing his fraternal relations between India and Bangladesh and, promoting peace and non-violence in the Indian subcontinent.

About Gandhi Peace Prize:

• The Government of India (GoI) launched the International Gandhi Peace Prize in 1995 on the occasion of the 125th birth anniversary of Gandhi.
• The award is open to all people regardless of nationality, race, language, caste, creed or sex.
• The award carries an amount of Rs 1 crore, a citation, a plaque and an exquisite traditional handicraft/ handloom item.
• 2018 awardee –  Yohei Sasakawa, Goodwill Ambassador of the World Health Organization for Leprosy Eradication
• Total awarded – 19

<<Read Full News>>

APPOINTMENTS & RESIGNATIONS      

NITI Aayog sets up 2 Task Forces to achieve Policy Certainty in Contract Enforcement, Dispute ResolutionNITI Aayog has constituted 2 Task Forces for recommending policy framework for enforcement of contracts & effective conciliation mechanism.
i.The Task Force for Enforcement of contracts will be headed by Rajiv Kumar, Vice Chairman of NITI Aayog.
ii.The Task Force for Effective conciliation mechanism will be headed by Amitabh Kant, CEO of NITI Aayog.

About NITI Aayog
Chairman–Prime Minister (Narendra Damodardas Modi)
Headquarter– New Delhi
<<Read Full News>>

ACQUISITIONS & MERGERS  

Govt fully exited TCL by selling its outstanding 26.12% stake in it for Rs 8,846 croreOn March 22, 2021, The department of investment and public asset management (DIPAM) reported that the government has fully exited from Tata Communications Ltd (TCL), a part of the Tata Group, through the sale of its outstanding 26.12% stake in it for ₹8,846 crores.

• The exit from TCL helps the government to get closer to the revised disinvestment target for FY21. Disinvestment Targets for FY22 is about ₹1.75 trillion.

Disinvestment target of the Government:

• The Union finance ministry had slashed its disinvestment target for FY21, from ₹2.1 trillion to ₹32,000 crores because of the disruptions caused by COVID-19.
• With the addition of Rs 8,846 crore from the sale of its stake in TCL, the government has gathered ₹31,006 crores so far.
• In order to achieve the ambitious disinvestment target for FY22, the government is under the process of privatizing Bharat Petroleum Corporation Ltd (BPCL) and Air India, and the initial public offering (IPO) of Life Insurance Corporation of India.

Proceeds of the sale in TCL:

• The government exits from TCL with total proceeds of about ₹8,846 cr through disinvestment of 16.12% in TCL through OFS (offer for sale) at ₹5,457 crores and 10% to a strategic partner at OFS discovered price for ₹3,389 crores.

Videsh Sanchar Nigam Limited (VSNL):

• The sale marked the government’s exit from the erstwhile Videsh Sanchar Nigam Ltd (VSNL), a central public sector enterprise that was privatized in 2002 by divesting a 25% shareholding along with transfer of management control to Panatone Finvest Ltd, named the strategic partner. Subsequent to the disinvestment, VSNL was renamed TCL.

About Tata Communications Ltd (TCL):
Former Name – Videsh Sanchar Nigam Limited (VSNL), established in 1986
Headquarters –  Mumbai, Maharashtra
MD & CEO – Amur Swaminathan Lakshminarayanan (Lakshmi)

CA Rover Holdings sells 4% stake in SBI Cards for Rs 3728 crore

In March 2021, CA Rover Holdings, an US based private equity funds sold 4% of its current stake holdings in SBI Cards & Payment Services worth Rs 3728 crore. CA Rovers Holdings previously held 15.86% stake in SBI Cards, even after the sale it holds 11% stake, currently valued at Rs 10,574 crore. The sale comes after 4 years of profiting nearly 970% returns.

SPORTS

‘Girl Gang’ announced official song of ICC Women’s World Cup 2022

A song  ‘Girl Gang’ by New Zealand singer Gin Wigmore, has been announced as the official song of the 12th edition of  2022 International Cricket Council(ICC) Women’s World Cup at Mt Maunganui Beach, New Zealand.

• The tournament is set to be hosted in New Zealand from March 4 to April 3, 2022.The song is from Wigmore’s fourth album Ivory released in 2017.

OBITUARY

Former Chairperson of SEBI, G V Ramakrishna passed Away at 91On 20th March 2021, G V Ramakrishna, former chairperson of Securities and Exchange Board of India (SEBI), a market regulator of India passed away at the age of 91 in Chennai, Tamil Nadu. He was born in 1930, in Bengaluru, Karnataka.
G V Ramakrishna was a 1952 batch IAS officer from Andhra Pradesh cadre.
About G V Ramakrishna:
i.He became the first Chairman of Disinvestment Commission in 1996 and managed the exit of the government from state-owned businesses.
ii.He served as the Chairman of SEBI from 1990 to 1994 during which he supported the banning of the badla stock trading system.
iii.He was an Adviser in the Planning Commission in 1981 and Member in 1994.
iv.He has also served as India’s Ambassador to the European Economic Community (European Union) in 1989.
v.He served as the minister of financial affairs in the Embassy in Washington in 1972.
vi.He has also worked under various ministries including Finance, Industry, Steel, Coal and Petroleum.

IMPORTANT DAYS

World Meteorological Day 2021 – 23rd Marchi.The United Nations(UN)’s World Meteorological Day is annually observed across the world on 23rd March to create awareness about the importance of the role of people and their behaviour in protecting the Earth’s atmosphere.
ii.The day showcases the contribution of National Meteorological and Hydrological Services towards the safety and wellbeing of society.
iii.World Meteorology Day 2021 is a registered activity of the United Nations Decade of Ocean Science for Sustainable Development (2021-2030).
iv.The theme of World Meteorological Day 2021 is “The ocean, our climate and weather”. 
v.The day marks the establishment of the World Meteorological Organization (WMO) , an intergovernmental body on 23rd March 1950.
About World Meteorological Organisation:
Secretary-General– Petteri Taalas
Headquarters– Geneva, Switzerland
Members – 193 member countries and territories (including India)
<<Read Full News>>

Shaheed Diwas or Martyr’s Day observed annually on 23rd MarchGovernment of India, annually observes the 23th of March as Shaheed Diwas or Martyr’s day to honour the 3 young freedom fighters- Bhagat Singh, Sukhdev Thapar, and Shivaram Rajguru. The 90th death anniversary of the 3 youngsters was observed on 21st March 2021.
Note- 30th January, the death anniversary of Mahatma Gandhi is also observed as Martyr’s day.
i.3 youngsters, Bhagat Singh, Sukhdev Thapar, Shivaram Rajguru along with support from Chandrasekar Azad threw bombs over the Central Legislative Assembly on April 8, 1929.
ii.During their hanging Bhagat Singh made the historic slogans “Inquilab Zindabad”, which later became the slogan of India’s armed struggle.
<<Read Full News>>

UN French Language Day 2021 – March 20i.The United Nations(UN)’s French Language Day is annually observed across the globe on 20th March to create awareness among the international community about the history, culture and use of the French language. The UN annually celebrates the 6 language day for the 6 official languages of the UN, Arabic, Chinese, English, French, Russian and Spanish.
ii.The day is recognised by the International Organization of La Francophonie  (OIF) as the International Day of La Francophonie.
iii.The theme of French Language Day 2021 is “Francophone Women, Resilient Women”.
iv.The 20th March marks the creation of the Agency for Cultural and Technical Cooperation (ACCT).
About the United Nations:
Secretary-General– Antonio Guterres
Headquarters– New York, United States of America
<<Read Full News>>

STATE NEWS

Jharkhand Launched SAAMAR (Strategic Action for Alleviation of Malnutrition and Anemia Reduction) Campaign to Fight Malnutritioni.On 17th March 2021, the Government of Jharkhand launched the SAAMAR (Strategic Action for Alleviation of Malnutrition and Anemia Reduction) campaign to tackle acute malnutrition in children and women in the state.
ii.The SAAMAR campaign is launched with a target of 1000 days, under which an annual survey will be conducted to track the progress.
iii.For the implementation of the SAAMAR campaign a provision of Rs.1 lakh will be given to every panchayat.
iv.According to the National Family Health Survey-4 data, every 2nd child in Jharkhand is stunted and underweight, every 3rd child is affected by stunting and every 10th child is affected from severe wasting and around 70% of children are anaemic.
About Jharkhand:
Chief Minister– Hemant Soren
National Park– Hazaribagh National Park, Betla National Park
<<Read Full News>>

Govt of Karnataka & ITC Signed an MoU to Execute a Watershed Programme

i.Government of Karnataka signed an Memorandum of Understanding (MoU) with ITC to execute a Watershed Programme covering over one million acres in the southern state. The Programme will be in effect for 3 years.
ii.The MoU was signed under the ITC’s Social Investments programme ”Mission Sunehra Kal” & the Karnataka Watershed Development Department.With regard to this MoU, 100 Watershed had set up.
iii.The agreement was a part of the Karnataka government’s ‘Watershed development for drought proofing’ programme & it is a part of ITCs Sustainability 2.0 agenda.
iv.It aims at covering 1.16 million acres of watershed area in 29 districts.
About Karnataka:
National Parks – Bannerghatta National Park, Bandipur National Park, Nagarhole National Park, Kudremukh National Park.
Lake – Hirekolale Lake, Ayyanakere Lake, Honnamana Kere Lake.
<<Read Full News>>

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