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Daily & Latest Current Affairs in 2024

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Andhra Pradesh
Tamil Nadu

Correct Answer :   Tamil Nadu

Prime Minister Modi on Wednesday (28th Feb 2024) launched the country's first indigenous green hydrogen fuel cell inland waterway vessel under the Harit Nauka initiative in Tamil Nadu's Thoothukudi.

Crafted by Cochin Shipyard Ltd., the indigenously built vessel is a result of collaboration between the Indian Register of Shipping, Cochin Shipyard Ltd, KPIT, and the Ministry of Ports, Shipping & Waterways, Govt. of India.

This a gift of the people of Tamil Nadu for Kashi, PM Modi said in his address.

The zero-emissions vessel is expected to be deployed in Varanasi shortly. The 24-meter-long, catamaran vessel can ferry 50 passengers and aims to reduce carbon emissions by 400 MT annually. The newly launched vessel is expected to make urban mobility swifter and serve as a pioneering example of sustainable waterway travel in the country.

During his visit to Thoothukudi, PM Modi inaugurated various other projects aimed at making the V.O.Chidambaranar Port the first Green Hydrogen Hub Port of the country. These projects include a desalination plant, hydrogen production, and a bunkering facility.

"Tamil Nadu will go a long way about the alternatives that the world is exploring today", he said.

The "Harit Nauka" Inland Vessels Green Transition Guidelines aim at completing the transition to green vessels by 2047 in India. Furthermore, it aims to create an ecosystem for the operation of green vessels, promote the "Make in India" policy in shipbuilding, and enable financial assistance for the development of green vessels..

Source : ETN

Published On : March 1, 2024
Rs.93,021 crore
Rs.87,021 crore
Rs.81,021 crore
Rs.75,021 crore

Correct Answer :   Rs.75,021 crore

What is PM Surya Ghar Muft Bijlee Yojana?

PM Surya Ghar Muft Bijlee Yojana is a Central Scheme that aims to provide free electricity to one crore households in India, who opt to install roof top solar electricity unit.  The households will be able to get 300 units of electricity free every month.  It was approved by the Union Cabinet on February 29th, with an outlay of Rs.75,021 crore.  

How does PM Surya Ghar Muft Bijlee Yojana work?’

The scheme provides for a subsidy of 60% of the solar unit cost for systems up to 2 kW capacity and 40 percent of additional system cost for systems between 2 to 3 kW capacity.  The subsidy has been capped at 3 kW capacity. At current benchmark prices, this will mean Rs 30,000 subsidy for 1 kW system, Rs 60,000 for 2 kW systems and Rs 78,000 for 3 kW systems or higher.

Who are eligible to apply for the Scheme?

1. The applicant must be an Indian citizen.
2. Must own a house with a roof that is suitable for installing solar panels.
3. The household must have a valid electricity connection.
4. The household must not have availed of any other subsidy for solar panels

How to apply for PM Surya Ghar Muft Bijli Yojana?

First, the interested consumer has to register on the national portal The National Portal will assist the households by providing relevant information such as appropriate system sizes, benefits calculator, vendor rating etc. The consumers can choose the vendor and the make of the Roof Top Solar unit they wish to get installed.

Can a consumer avail of loan facility to finance the solar unit?

Yes. Households will be able to access collateral-free low-interest loan products of around 7% at present for installation of residential RTS systems up to 3 kW. The interest rate has been pegged at 0.5% above the prevailing Repo Rate decided by the Reserve Bank of India from time to time.  In the event of Repo Rate, which is 6.5% at present, getting reduced to say 5.5%, the effective interest rate for consumer will become 6% instead of the current 7%.

What is the procedure for availing subsidy?

Step 1

* Register on the portal
* Select your State & Electricity Distribution Company
* Enter your Electricity Consumer Number, Mobile Number & Email.

Step 2

* Login with Consumer Number & Mobile Number
* Apply for the Rooftop Solar as per the form

Step 3

* Once you get the feasibility approval, get the plant installed by any of the registered vendors

Step 4

* Once installation is completed, submit the plant details and apply for net meter.

Step 5

* Commissioning certificate will be generated from the portal, after installation of net meter and inspection by DISCOM.

Step 6

* Once you get the commissioning report. Submit the bank account details and a cancelled cheque through the portal. You will receive your subsidy in your bank account within 30 days.

Why should a household opt for the Roof Top Solar Scheme?

The households will be able to save electricity bills as well as earn additional income through sale of surplus power to DISCOMs.

PM Surya Ghar Muft Bijlee Yojana promises an assured saving of approximately Rs 15,000 in a year for a household consuming up to 300 units a month, by installing Roof Top Solar unit of 3 kW capacity.  Such a household, by generating its own electricity will save on electricity bill approximately Rs 1,800 – Rs 1875.

Even after deducting the EMI of Rs 610 on the loan availed for financing the solar unit, the saving would be around Rs 1,265 per month or approximately Rs 15,000 in a year.  The savings for the households not availing of loan will be even higher..

Source : PIB

Published On : March 1, 2024
Nikhil Kamat
Vijay Shekhar
Renu Sud Karnad
Soni Chatterjee

Correct Answer :   Renu Sud Karnad

PayU Payments Private Ltd (PayU), which is fintech arm of Global Consumer Internet Group Prosus, has appointed Renu Sud Karnad, a director at HDFC Bank, as chairperson and independent director of the company.

This digital financial services provider has also inducted four more members to the board, taking the overall strength of the board to seven members including Anirban Mukherjee, Chief Executive Officer, PayU and Arvind Agarwal, Chief Finance Officer, PayU. All the five new directors have joined the board.

Karnad was managing director of India’s largest mortgage lender HDFC till July 2023 before it got merged with HDFC Bank.

The other four directors who have joined PayU Board are Jairaj Purandare (Independent Director); Gopika Pant (Independent Director); Laurent Le Moal, (Non-Executive & Non-Independent Director) and Jan Bune (Non-Executive & Non-Independent director)

Anirban Mukherjee, CEO, PayU, said, “We’re delighted to have built an outstanding board to offer us counsel and guidance as we build full stack of digital financial services to serve India, advance digitisation and drive financial inclusion. With the Indian economy undergoing rapid transformation, PayU is poised to capitalise on leveraging the unparalleled online payments opportunity, expected to reach a $1 trillion internet economy by 2030.

I’m deeply humbled and honoured that each of these eminent industry veterans have chosen to endorse our vision and accompany us on our journey. The collective wisdom of the board will greatly benefit us as we embark on the next phase of growth for PayU.”

“I’m especially pleased that Renu Sud Karnad has agreed to join our board of directors as chairperson. With a strong background in financial services, gained from her illustrious career, Renu will bring the skills and experience required to make a material contribution to PayU’s future,” he added.

Renu Sud Karnad said, “I am glad to be on the board of PayU Payments, a world-class company built in India and serving India as a key market. I look forward to helping the team to build a diversified financial services organisation promoting digitisation using cutting-edge technology.”...

Source : The Hindu Businessline

Published On : February 29, 2024

Correct Answer :   Peru

In Peru, the government has declared a health emergency due to the rapidly rising cases of dengue fever across the South American country. Local media reported that the health emergency was declared in 20 of Peru's 25 regions.

Peru's Health Minister Cesar Vasquez said yesterday that more than 31,000 cases of dengue have been recorded till date, including 32 deaths.

The move will enable the government to transfer funds more quickly to affected regions and more easily deploy doctors and nurses.

Peru has been experiencing high temperatures and heavy rains since 2023 due to the El Nino weather pattern, which has warmed the seas off the country’s coast and helped mosquito populations grow..

Source : AIR

Published On : February 29, 2024
Droupadi Murmu
Narendra Modi
Amit Shah
Rajnath Singh

Correct Answer :   Narendra Modi

PM Narendra Modi launched the world's largest grain storage plan in the cooperative sector, for farmers on Saturday (24th Feb 2024). He informed that that 700 lakh tonne storage capacity will be created in the next five years, with an investment of ?1.25 lakh crore. Under the scheme, thousands of warehouses and godowns will be constructed across the country.

On Saturday (25th Feb 2024), Modi inaugurated 11 godowns set up by 11 primary agricultural credit societies (PACS) across 11 states.

He also laid the foundation for creating godowns and other agri infrastructure in 500 more PACS. He also inaugurated a project for computerisation of 18,000 PACS across the country.

World’s Largest Grain Storage Plan

* Inauguration : PM Modi inaugurated the pilot project for the ‘World’s Largest Grain Storage Plan in Cooperative Sector’, covering 11 Primary Agricultural Credit Societies (PACS) across 11 States.
* Objective : The initiative aims to integrate PACS godowns into the food grain supply chain, bolstering food security and fostering economic development.
* Support : Supported by NABARD and led by the National Cooperative Development Corporation (NCDC), the project converges various schemes including the Agriculture Infrastructure Fund (AIF) and Agriculture Marketing Infrastructure (AMI).

Expansion of PACS and Agri Infra

* Foundation Stone Laying : PM Modi laid the foundation stone for an additional 500 PACS nationwide, facilitating the construction of godowns and agricultural infrastructure.
* Collaborative Effort : PACS participating in the project will benefit from subsidies and interest subvention under existing schemes.
* Objective : The initiative aims to integrate PACS into the broader agricultural framework, enhancing efficiency and resilience.

Digital Transformation of PACS

* Inauguration of Project : PM Modi inaugurated a project for the computerization of 18,000 PACS across the country.
* Financial Outlay : With a budget exceeding Rs 2,500 crore, the initiative involves transitioning functional PACS onto a unified Enterprise Resource Planning (ERP) based national software.
* Linkage : By linking PACS with NABARD through State Cooperative Banks and District Central Cooperative Banks, the project aims to enhance operational efficiency and governance, benefiting small and marginal farmers.

Published On : February 29, 2024

Correct Answer :   0.72

In 2023, South Korea experienced a further decline in its already record-low fertility rate, exacerbating concerns about population decline. Political promises aim to tackle the crisis, but similar trends in Japan and China underscore the complex challenges of reversing declining birth rates.

Decline in Fertility Rate

* South Korea’s fertility rate hits a record low of 0.72 in 2023, continuing a trend of decline.
* The rate is well below the replacement level of 2.1 children per woman required for population stability.
* Factors such as career advancement concerns and financial burdens deter women from having children, contributing to the decline.

Impact on Population and Economy

* South Korea’s population, currently at 51 million, faces the prospect of halving by the end of the century.
* The demographic crisis poses significant risks to economic growth and strains the social welfare system.

Social and Economic Factors :

* Women cite concerns about career advancement and financial stability as primary reasons for delaying childbirth or opting out of having children altogether.
* The pressure to balance work commitments with family responsibilities contributes to the declining fertility rate.

Policy Response :

* Ahead of elections, political parties pledge measures such as public housing initiatives and easier loans to incentivize childbirth.
* Addressing the root causes of declining fertility, including housing affordability and work-life balance, becomes a focal point of government policies.

Regional Trends :

* South Korea’s fertility decline mirrors similar trends in neighboring countries like Japan and China, where aging populations and record-low fertility rates pose significant challenges.
* Efforts to reverse these trends through policies and incentives have yet to yield substantial results, reflecting the complexity of the issue.

Published On : February 29, 2024
Pratibha Patil
Yashwant Sinha
Acharya Lokesh Muni

Correct Answer :   Acharya Lokesh Muni

With multiple conflicts among the naions across the world, that have or are on the verge of turning into a war, one thing that the world requires, is peace. In such times, people who propagate and encourage peace, hold a lot of importance and it is also important to recognise such people.

In this regard, the Minister of External Affairs, S Jaishankar will be conferring Acharya Lokesh Muni with the ‘Global Jain Peace Ambassador’ honour. This will be done in an event in Karnataka today (28th Feb 2024), which is being organised by the Jain Pilgrim Cenre, Navagraha Tirtha Kshetra in Hubli Varur, Karnataka. Apart from knowing about the event, know who is Acharya Lokesh Muni and why is he being honoured.

Acharya Lokesh Muni Being Honoured As ‘Global Jain Peace Ambassador’.

As mentioned earlier, External Affairs Minister S Jaishankar will honour Acharya Lokesh Muni, the founder of Ahimsa Vishwa Bharti and the World Peace Center, as the ‘Global Jain Peace Ambassador’ during an event in Karnataka on Wednesday. The function will be organised by the Jain pilgrim centre, Navagraha Tirtha Kshetra, in Hubli Varur, Karnataka, today.

Why Is Acharya Lokesh Muni Being Conferred With This Honour?

The honour will be conferred in recognition of Acharya Lokeshji’s contribution to promoting peace and harmony globally as well as his efforts in enhancing the pride of India and Jainism on the international platform. The ceremony will be held in the presence of Digambar Jain, and Acharya Gunadharnandiji, founder of AGM Group of Institutions. Union Minister Pralhad Joshi, former Karnataka Chief Minister Basavraj Bommai and Vice-Chancellor S Vidyashankar will also grace the event.

Who Is Acharya Lokesh Muni?

Founder of Ahimsa Vishwa Bharti, Acharya Dr Lokesh Muni is a writer, poet, thinker and social reformer who has been making efforts in national character building and establishing non-violence, mutual cooperation and peace, for the last 32 years. To highlight the importance of eradicating social evils, Acharya Lokesh Muni has travelled 20,000 KMS across India. The organisation set up for this very cause, is Ahimsa Vishwa Bharati.

Acharya Dr Lokesh Muni was born in Pachpadra City on April 17, 1961 and he studied Jain, Buddhist, Vedic and other Indian and foreign philosophies after completing his formal education. Well-read in Sanskrit, Hindi, Prakrit, English and Gujarati among other languages, Acharya Lokesh Muni has also written many books.

Acharya Lokesh Muni has been bestowed with ‘Ethical Honour’ of Gulzarilal Nanda Foundation by then-President Smt Pratibha Patil in 2006, he was honoured with the National Communal Harmony Award by the Govt of India in 2010, the Ambassador of Peace Award by the United Nations in 2014 and with the ‘Keys of Milpitas City’ by the Mayor of Milpitas California Hoze Astawish..

Source : India

Published On : February 29, 2024
22 February to 26 February 2024
24 February to 28 February 2024
26 February to 1 March 2024
28 February to 3 March 2024

Correct Answer :   26 February to 1 March 2024

Starting in 2016, the Reserve Bank of India (RBI) has consistently allocated each year to the observance of Financial Literacy Week (FLW). The primary goal is to convey messages regarding financial education to the general public, fostering the empowerment of individuals to adopt responsible financial behaviour and make informed financial decisions.

What is this year’s theme?

The designated theme for the Financial Literacy Week scheduled from February 26 to March 01, 2024, is “Initiate Wisely: Cultivate Financial Savvy". The theme centres on young adults and students, seeking to imbue prudent financial habits from an early age. It promotes the cultivation of a robust financial groundwork, fostering enhanced financial security and the attainment of future goals.

The focus lies on saving and recognizing the efficacy of compounding in wealth generation. Modern-day investors highlight that even modest, regular savings can experience exponential growth over time, all thanks to compound interest. This proves crucial for achieving long-term financial objectives such as retirement and education.

For students, it holds greater significance as it instructs them on topics such as bank accounts, secure transactions, budgeting, credit management, and navigating financial products tailored to their requirements. As online banking becomes increasingly prevalent, understanding cybersecurity risks and adopting secure digital financial practices is vital to safeguard personal financial information. The emphasis of the current year's theme aligns with broader objectives to foster a more financially literate and empowered population in India.

RBI’s efforts in promoting financial literacy

The Annual Financial Literacy Week features specialized campaigns addressing key financial themes, aiming to raise awareness across various segments of society. Collaborating with banks, block-level centers were set up to provide financial counseling and guidance to local communities. Dedicated museums have been established to enlighten the public about the history and development of money and banking in India.

The widely acclaimed “RBI Kehta Hai" campaign is actively disseminating information about banking, finance, and consumer rights through various media channels. The RBI collaborates with institutions such as the NCERT to integrate financial literacy into school and university curriculums.

Impact of initiatives undertaken by the RBI

The proactive measures taken by the RBI have notably elevated financial awareness in India, resulting in

* Individuals are making more informed decisions regarding the management of their finances.
* Promoting a savings culture and advocating for long-term financial planning has led to an increase in savings.
* Empowered consumers are better equipped to exercise their rights and safeguard themselves against fraudulent activities.
* An increasing number of individuals are becoming part of the formal financial system, gaining access to banking, investment, and insurance products..

Source : Mint

Published On : February 29, 2024
Tamil Nadu

Correct Answer :   Tamil Nadu

In a momentous occasion for India's space ambitions, Hon’ble Prime Minister Shri Narendra Modi remotely laid the foundation stone for India's second spaceport at Kulasekharapattanam, a coastal village in Tamil Nadu's Thoothukudi district on February 28, 2024, at 09:45 hrs.

The selection of Kulasekharapattanam offers strategic advantages, particularly in enhancing payload capability with its direct southward launch trajectory for small launch vehicles.

The ceremony saw the esteemed presence of Shri Somanath S, Chairman, ISRO and Secretary, Department of Space (DoS), Dr. Pawan Kumar Goenka, Chairman, IN-SPACe and other senior officials.

The highlight of the event was the successful launch of the Rohini Sounding Rocket "RH200" from the newly established launch complex at 13:40 hrs IST. VSSC provided the rocket and the meteorological payload, while SDSC spearheaded the realization and installation of launch facilities including radars, launchers, and electronic systems.

The maiden launch from the new spaceport marked a significant milestone, with the RH200 rocket reaching a peak altitude of 75 km, precisely tracked by two on-site radars. The RH200 rocket, developed by VSSC, has a long-standing reputation for reliability, with this launch marking its 1928th successful mission.

Chairman, ISRO, Shri Somanath S., stated that today marks a historic day in the Indian space program as the Honorable PM laid the foundation for the second launch site, and a sounding rocket was successfully launched from the Kulasekharapattanam launch station. He further added that the launch site will be fully commissioned within 24 months and will enhance the space activities of NGEs..

Source : ISRO

Published On : February 29, 2024

Correct Answer :   Thailand

The National Institute of Ayurveda, Jaipur under the Ministry of Ayush of the Government of India and Department of Thai Traditional and Alternative Medicine of the Ministry of Public Health of the Government of the Kingdom of Thailand signed a Memorandum of Understanding(MoU) on the establishment of an Academic Collaboration in Ayurveda and Thai Traditional Medicine in New Delhi, India at 10th India-Thailand Joint Commission Meeting held at Hyderabad House, New Delhi on 27th Feb 2024.

Shri B.K. Singh, Joint Secretary, Ministry of Ayush, Government of India, and Dr. Taweesin Visanuyothin, Director General, Department of Thai Traditional and Alternative MedicineThailand signed the MoU in the presence of other dignitaries during the event.

The initiative has been taken to promote, facilitate, and develop academic collaboration in the field of Ayurveda and Thai Traditional Medicine based on equality and mutual benefit of the Participants. This MoU will facilitate the exchange of experts for research and training programs, academic and technical activities, and conducting research, exchange of information, technologies, and best practices of Traditional Medicine.

The Participants will take necessary steps to encourage and promote cooperation in facilitating academic and technical activities and conducting research for mutual benefits. Exchanging and accommodating experts, teaching instructors, practitioners, and students for research and training programmes.

Exchanging knowledge, experiences, information, technologies, and best practices. Providing scholarships for education. Promoting the participation of experts in conferences, workshops, seminars, and events held by the Participants and other important areas of cooperation, with the mutual consent of the Participants.

During implementation of this MOU, the Participants, within their capacities will support each other with mutual cooperation and collaborative activities on the basis of equality and mutual benefits by facilitating training courses in Thailand and India, conducting collaborative research studies on diseases of common interest to both Participants and visits and exchanges of policy makers, academics, experts, researchers, practitioners, and students.

NIA and Departement of Thai Tradtional and Alternative Medicine, Thailand will share information on regulatory mechanisms, best practice, guidelines of practice and courses of study and training; and organize conferences/meetings alternately in India and Thailand and reviewing the progress of the implementation of the MOU and the evaluation of the results of collaborative programmes..

Source : PIB

Published On : February 28, 2024