APRIL 2024 – 1st to 7th

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Contents
1 GA IN NEWS......................................................................................................................................4
FIRST IN NEWS ....................................................................................................................................4
GOVERNMENT INITIATIVES ...........................................................................................................6
SUMMITS AND CONFERENCES .....................................................................................................9
MOUs AND AGREEMENTS ............................................................................................................10
BANKING AND FINANCE ................................................................................................................11
DEFENCE EXERCISES/ INITIATIVES/ TECHNOLOGY ...........................................................12
SCIENCE & TECHNOLOGY ............................................................................................................13
ENVIRONMENT .................................................................................................................................15
SPORTS ...............................................................................................................................................15
AWARDS ............................................................................................................................................16
APPOINTMENT .................................................................................................................................17
PERSONS IN NEWS ..........................................................................................................................19
FAIRS AND FESTIVALS ..................................................................................................................20
PLACES IN NEWS .............................................................................................................................20
DAYS IN NEWS .................................................................................................................................21
MISCELLANEOUS ............................................................................................................................22
2 GA + ESI ...........................................................................................................................................23

......................................................................................................................23
SUSTAINABLE DEVELOPMENT AND ENVIRONMENT ..........................................................23
2.1 India’s Renewable Energy Capacity ............................................................................................23
2.2 Cyber Surakshit Bharat Initiative.................................................................................................23
2.3 Suvidha Portal .............................................................................................................................24
INDUSTRIAL DEVELOPMENTS IN INDIA ...................................................................................24
2.4 Defence Exports in FY24..............................................................................................................24

......................................................................................................................25
SUSTAINABLE DEVELOPMENT AND ENVIRONMENT ..........................................................25
2.5 Greenpeace International Survey on Plastic Pollution ...............................................................25
2.6 Convention on Biological Diversity .............................................................................................25

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 SOCIAL JUSTICE ..............................................................................................................................26
2.7 Bharat Brand ...............................................................................................................................26
GLOBALIZATION ..............................................................................................................................26
2.8 North Atlantic Treaty Organization (NATO) ................................................................................26
2.9 World Bank Group .......................................................................................................................27
3 GA + FINANCE ...................................................................................................................................28

........................................................................................................................28
RECENT DEVELOPMENTS IN FINANCIAL SECTOR ...............................................................28
3.1 HP Future Impact Leaders - IICA Certified Environmental-Social-Governance (ESG) Professional
Programme ............................................................................................................................................28

..........................................................................................................28
KEY DEVELOPMENTS IN FINANCIAL SECTOR .......................................................................28
3.2 SCORES 2.0 ..................................................................................................................................28
3.3 Foreign Portfolio Investors (FPIs) ................................................................................................29
3.4 Government's Dividend Collections from Non-Financial CPSEs .................................................29
3.5 Asset Monetisation .....................................................................................................................29
3.6 Insolvency and Bankruptcy Board of India (IBBI) ........................................................................30
3.7 Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund ..............................31
3.8 IRDAI Regulations on Surrender Charges ....................................................................................31
3.9 Tax Collection in FY24 .................................................................................................................32
3.10 UPI Transactions in FY24..........................................................................................................32
Quick Revision .....................................................................................................................................32

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 1 GA IN NEWS
FIRST IN NEWS

S.No News Key Facts

• Set up by: GAIL (India) Ltd.

• Location: Vijaipur complex of GAIL, Madhya Pradesh.
• It includes a 10-megawatt proton exchange membrane electrolyser,
India's First Green
1. imported from Canada.
Hydrogen Project
• Aligns with India's ambition to achieve a production capacity of 5
million tons of green hydrogen annually by 2030 under the National
Green Hydrogen Mission.

India’s First Home-Grown

• Developed by: IIT Bombay & Tata Memorial Hospital in association
2. anti-cancer CAR-T cell
with industry partner ImmunoACT.
therapy- NexCAR19

• Reliance Industries Ltd has purchased a 26% stake in Mahan

Energen Ltd (MEL), a wholly owned subsidiary of Adani Power Ltd.
• They have entered into a 20-year power purchase agreement for the
3. First Ambani-Adani pact
utilization of 500 MW generation capacity by RIL from Mahan
Thermal power plant for captive use.
• MEL is a power project in Madhya Pradesh.

• Launched by: Ola Electric.

India’s first autonomous • It is a fully autonomous, AI-enabled and traffic-smart electric
4.
electric - 'Ola Solo' scooter.
• It is powered by Krutrim AI & enables interaction in 22 languages.

• India's coal production reached 997.4 million tonnes in FY24, an

11.67% increase from FY23, with a cumulative production of coal and
lignite surpassing 1.04 billion tonnes.
• India's total coal and lignite output was at 937 million tonnes (MT) in
India's coal and lignite the preceding 2022-23 fiscal.
5. production crossed 1 billion
Additional Information
tonnes for the first time
• India aims to eliminate coal imports by 2025-26.
• Coal India Ltd (CIL) has set a production and supply target of 838
million tonnes for FY25.
• Mahanadi Coalfields in Odisha became the first Indian coal producer
to exceed 200 million tonnes in output.
• Launched by: Tata AIA Life Insurance Co.
• Policyholders can now pay premium up to
First payment solutions on Rs 1 crore, instead of the earlier limit of Rs
6. WhatsApp for Indian Life 2 lakh.
Insurance Sector

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 • To be organized alongside the 18th
Mumbai International Film Festival
(MIFF).
• It is the first comprehensive platform
7. First-ever Doc Film Bazaar
designed to promote and support
documentary, short films and animation
content showcasing talent in filmmaking,
production and distribution.
• Initiated by: Indian Strategic Petroleum Reserves Ltd (ISPRL).
• Location: Padur in Karnataka.
• The new facility, named Padur-II, will have an underground storage
capacity of 2.5 million tonnes of crude oil.
India's First Commercial • It will be developed under a PPP (public-private partnership) model.
8.
Crude Oil Strategic Storage • Objective: To provide insurance against supply disruptions by
increasing the country's strategic petroleum reserves.
• ISPRL has already established 5.33 million tonnes of storage
capacity at three locations in Phase-I viz, Visakhapatnam (Andhra
Pradesh), Mangalore and Padur (Karnataka) with govt. funding.
• To be launched by 2029-30.
• Private operator can trade all of the stored oil, mirroring models
adopted by Japan and
South Korea.
• Two new SPRs planned
India’s first privately at Padur, Karnataka, and
9. managed strategic in Odisha.
petroleum reserve (SPR) • The government will
retain the right to oil in
case of shortages.
• Aim: to help India meet the International Energy Agency (IEA)
membership requirement of holding a minimum of 90 days of oil
consumption.
• Name of the person: Bilquis Mir (aqua woman of Kashmir Valley).
First person & woman from
• She is one of the two jury members selected from Asia, the other
India to serve as a jury
member is from Japan.
10. member at Paris Olympics
• She is a canoeist from Jammu and Kashmir
• She is a jury member of the Indian Kayaking and Canoeing
association.

India’s first private-

industry-realised • Developed by: Advanced Technology Centre of Lakshmi Machine
11. composite ogive payload Works; Delivered to: ISRO.
fairing for the upcoming • It is 10.75 metres tall and 5 metres in diameter.
GSLV-Mk III project

• Milestone achived by Adani Green Energy Ltd (AGEL) after

First company in India with commissioning 2,000 MW of solar capacity at the Khavda solar park
12. over 10,000 MW of in Gujarat.
renewable energy capacity • AGEL now has an operating portfolio of 10,934 MW, largest in India.
• AGEL is aiming for 45 GW renewable energy by 2030.
• Why in News: 250th Anniversary Celebration of the launch of the
world’s first postage stamp, ‘Copper Ticket’, introduced in 1774 from
World’s first postage
13. Patna (then known as Azimabad).
stamp, ‘Copper Ticket’
• 'Copper Ticket' was initially launched as a charge for delivering posts
up to a distance of 160 miles.

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 • Why in News: Indian Air Force received the delivery of the first
First indigenously designed
indigenously designed and developed CFT.
14. and developed Crash Fire
• Manufactured by a Noida-based Indian MSME (Micro, Small and
Tender (CFT)
Medium Enterprise) firm.

GOVERNMENT INITIATIVES

S.No Initiative Key Facts

• Over 60 products across India have been awarded GI tag recently.

• For the first time, large number of GI tags have been given at once.
• 15 products from Uttar Pradesh & 19 products from Assam have
received GI Tag.
• 13 GI-tagged products were specifically linked to Bodo community,
the largest tribal group in Assam

State Important GI Tagged Products

Assam Bihu dhol, Asharikandi terracotta craft, Pani Meteka
craft, Sarthebari metal craft, Jaapi
Products linked to Bodo Community- Jotha,
Gongona, Gamsa, Sifung, Serja, Khardwi, Kham,
Gongar Dunjia, Thorka, Keradapini, Jwmgra, Dokhona,
Geographical Indication and Eri Silk
1.
(GI) tag Meghalaya Garo Textile, Lyrnai Pottery, Chubitchi
Tripura Pachra-Rignai, Matabari Peda
Uttar Banaras Thandai, Banaras Tabla, Mathura Sanjhi craft,
Pradesh Bundelkhand Kathiya Gehu (wheat), Pilibhit Bansuri
Maharashtra Sitars and Tanpuras of Miraj, from Sangli district.
• Top 2 States with Most GI
Tagged Products: Uttar
Pradesh & Tamil Nadu
respectively.
• Varanasi accounts for
maximum number of GI tagged
products (30) from a single
geographical area.
Note: GI was also discussed in March 2024 CurrentTap.

• NHAI achieved its highest-ever highway construction, building

6,644 km in FY24, surpassing the target of 6,544 km.
• This marks a 20% increase in construction from FY23, which saw
Expansion of National 5,544 km of highways built.
2.
Highways by NHAI • NHAI also registered its highest ever capital expenditure of Rs 2.07
trillion in FY24, up 20% from Rs 1.73 trillion in FY23.
• The Ministry of Road Transport & Highway’s gross budget support
(GBS) for capex in FY24 is Rs 2.64 trillion.

Consultation Paper on • Released by: Telecom Regulatory Authority of India (TRAI), Ministry of
‘Inputs for formulation of Information and Broadcasting.
3. • Purpose: To develop a comprehensive National Broadcasting Policy to
National Broadcasting
Policy-2024’ promote the growth and development of the broadcasting sector in
India, leveraging new and emerging technologies.

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 • Key Areas of Discussion: making India a ‘Global Content Hub’,
fostering innovation, job creation, skill development, and enhancing
content security.

• Guidelines issued by: Food Safety and Standards Authority of India

(FSSAI).
• FSSAI has noticed that licensed “proprietary foods” which are dairy-
based, cereal-based, and malt-based beverage mixes being sold on
e-commerce websites under the category of health or energy drinks.
Correct Categorization of
• The term ‘Health Drink’ is not defined or standardized anywhere
4. Food Products on E-
under the FSS Act 2006 or rules/regulations made thereunder.
Commerce Platforms
• All e-commerce FBOs must rectify this misclassification by
removing or de-linking such drinks or beverages from the category
of ‘Health Drinks / Energy Drinks’ & provide appropriate category.
• ‘Energy drinks’ is permitted to be used only for products which have
been licensed under specific food category system.

• Organizers: Indian National Science Academy (INSA) and National

2nd Leadership
Centre for Good Governance (NCGG).
Development Program in
5.
Science and Technology
• Objective: to nurture and empower future leaders in the field of
science and technology, fostering visionary leadership and advancing
(LEADS) Programme-2024
scientific excellence in India.

• Initiative of: Ministry of Road Transport and Highways (MoRTH).

• Aim: To speed up the sanction and approval process of national
Digitization of Project highways projects by making it paperless.
Sanction and Approval • A new standard operating procedure (SoP) has to be followed from
6.
Processes for National April.
Highways
• Applicability: mandated for all national highways works executed
through NHAI, state governments, BRO, NHIDCL, and MoRTH Project
Implementation Units (PIUs).

• Recently, Manohar International Airport, Goa, has introduced

biometric-enabled DigiYatra system for air travellers

About DigiYatra
7. DigiYatra • Initiative of: Ministry of Civil Aviation; Launched in: 2022
• It enables biometric boarding system using Facial biometric
verification Technology.
• Objective: to enhance the passenger experience by eliminating the
need for manual verification of tickets and ID at multiple touch points.

• Launched by: District Election Officer and Deputy Commissioner of

Booth Raabta (Booth Malerkotla District, Punjab.
8.
Contact) • Objective: to provide election-related information to the people of the
district.

• Launched by: Ministry of Health and Family Welfare

• Developed by: National Informatics Centre (NIC) Himachal Pradesh
and NIC Health Team.
9. myCGHS iOS App
• Objective: To enhance access to Electronic Health Records,
information, and resources for Central Government Health Scheme
(CGHS) beneficiaries.

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 • Launched by: Department of Telecommunications (DoT).
• Objective: To simplify the experimental licence requirements for 100
5G Labs in academic institutions, facilitating smoother operations and
fostering innovation in the 5G domain.
• Features
o The licence will be issued on a “Self-declaration Mode” via the
National Single Window System (NSWS).
Experimental Licence o Nominal fees for application process- Rs. 5000.
10.
Module for 100 5G Labs Background
• DoT has awarded ‘100 5G Use Case Labs' to educational institutions
across India.
• Objective: to cultivate competencies and engagement in 5G
technologies among students and start-up communities.
• They need to obtain Experimental (Non-Radiating) category of
license from the DoT to ensure interference-free operations to
licensed TSPs.

• Launched by: NMDC (National Mineral Development Corporation)

• Objective: to facilitate former employees of NMDC in managing their
11. "Samman" Portal
medical claims, viewing personal profiles, dependent details, and
application status online.
• Overarching theme of the campaigns: ‘Chunav Ka Parv, Desh Ka Garv’
• Turning 18 Campaign: To
galvanize youngsters to
participate in the upcoming
elections and address the critical
issues of urban and youth apathy
ECI’s (Election
noticed in previous elections.
Commission of India)
• You are the One Campaign: To
Social Media Campaigns
12. recognize and celebrate the
for Enhanced Voter
invaluable contributions of various
Participation in General
stakeholders involved in the
Elections 2024
electoral process.
• ‘VerifyBeforeYouAmplify’
initiative (पोस्ट से पहले पुष्टि):
Combats fake news and
misinformation about election
processes.
• The Ministry of New and Renewable Energy has re-imposed the
ALMM order for solar photovoltaic (PV) modules from April 1, 2024.
• Aim: to regulate the solar PV module market by ensuring that projects
Approved List of Models
sponsored or subsidized by the government use modules from
and Manufacturers
13. approved manufacturers.
(ALMM) order for solar
• Projects commissioned by March 31, 2024, are exempt from the
photovoltaic (PV) modules
ALMM requirement.
• The ALMM order will not apply to projects set up under open access
or as captive by private parties.
• The Government of India has set 2025 as the target year to end urea
14. India’s Urea Imports
imports.

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 • Developed by: Technology
Development Board (TDB)
under Department of Science
Commercial Plant for and Technology (DST), in
Recycling Lithium-Ion collaboration with Remine
15.
Batteries (LIB) and E- India.
Waste in Uttarakhand • Objective: To establish a commercial recycling plant using indigenous
technology, developed by Centre for Materials for Electronics
Technology (CMET), Hyderabad, in Sitarganj's SIIDCUL Industrial
Area, Eldeco, Uttarakhand.

SUMMITS AND CONFERENCES

S.No Focus Area Key Outcomes

• Organized by: Election Commission of India (ECI)

• Venue: Nirvachan Sadan, New Delhii
• Chair: Chief Election Commissioner
• Participants: Municipal Commissioners from major cities and select
District Election Officers (DEOs) from Bihar and Uttar Pradesh.
• Aim: to address the issue of low voter turnout in Parliamentary
Constituencies (PCs) with historically low poll participation.
• A booklet titled ‘Voter’s Apathy’ was released at the event.
o 297 million eligible voters did not vote in the 2019 general
elections.
o Total constituencies with the lowest Voters Turnout Rate (VTR):
50 constituencies
First Conference on Low ✓ Of the 50 constituencies with the lowest VTF in the 2019
1. general elections, 17 were in metropolitan or major cities.
Voter Turnout
✓ 11 States/UTs had a voter turnout lower than the national
average of 67.40% in the 2019 General Elections.
✓ Out of the total 50 Rural polling stations (PCs) across 11 states
identified with lower voter turnout than the national average
in 2019, 40 PCs are from Uttar Pradesh (22) and Bihar (18).
✓ In UP, Phulpur PC recorded the lowest turnout of 48.7%,
while in Bihar, Nalanda PC recorded lowest turnout of
48.79%
o Top 3 PCs with lowest VTR: Anantnag Srinagar & Baramulla
respectively. All three are from Jammu and Kashmir.
o Top 3 PCs with lowest VTR in Metro or Major Cities: Hyderabad
(Telangana), Kalyan (Maharashtra), Patna Sahib (Bihar)
respectively.

• Organized by: Niti Anusandhan Pratisthan in collaboration with the

Central Sanskrit University, Delhi, and India Foundation, Delhi.
• Venue: Kathmandu, Nepal
Nepal-India International
2. • Outcome: Adoption of five-point resolution to strengthen Nepal-India
Sanskrit Conclave
relations and promote Sanskrit education in both countries.
o Nepal-India Sanskrit Study Centre will be set up.
o Niti Anusandhan Pratisthan Nepal will function as the head office
of the Nepal-India Sanskrit Study Centre.

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 o Training programme for Nepali Sanskrit students in India will be
organized.
o Central Sanskrit University, Delhi, will facilitate libraries of
Gurukuls in Nepal and provide necessary books to Sanskrit
educational institutions in Nepal.
o Promotion of the religion, culture, philosophy, history and
archaeology of Nepal and India alongside the preservation of
Sanskrit, Pali and Prakrit languages.

MOUs AND AGREEMENTS

S.No Signing Entities Key Facts

• Purpose: to use advanced geological models in SJVN's tunnelling

1. SJVN & IIT Patna
projects to reduce time and cost overruns.

• Purpose: To execute the Rwanda Transmission System Reinforcement

and Last Mile Connectivity project (TSRLMC) in Rwanda worth around
RVNL- STEL JV & Energy
Rs 60 crore.
2. Development Corporation
Limited (EDCL), Rwanda Additional Information
• Rail Vikas Nigam Ltd (RVNL) and Salasar Techno Engineering (STET)
hold 51% & 49% stake in the JV.
• Purpose: To enhance
Satellite Industry cooperation and progress in the
Association of India (SIA- space sector between India and
3. India) and Brazilian Brazil, covering domains such as
Satellite Communications satellite communication, rocket
Association (ABRASAT) launches, payload development,
and ground instrumentation.

Tejas Networks Ltd.,

Telecom Egypt (TE),
• Purpose: to replicate Tejas Networks' experience in implementing
Information Technology
4. significant projects like Bharatnet and the National Knowledge Network
Industry Development
in Egypt.
Agency (ITIDA) & National
Telecom Institute (NTI)

• Purpose of the JV: to set up automotive software and IT development

BMW Group and Tata
5. hubs in Pune, Bengaluru, and Chennai, focusing on advancing BMW
Technologies Ltd.
Group's software coding capabilities globally.

6. SIDBI and KarmaLife • Objective: to offer micro loans to gig workers on a pilot basis.

• Purpose: To renew electricity export permission from India to Nepal for

7. India and Nepal
three months, aimed at assisting Nepal with its power crisis.

Society For Innovation & • Purpose: To provide financial support to startups, leveraging Canara
8. Entrepreneurship (SINE), Start-Up Scheme and SINE's incubation and acceleration support for
IIT Bombay & Canara Bank technology startups.

• The contract involves the supply of six sets of LM2500 gas turbines
Hindustan Aeronautics Ltd
(GT) and GT Auxiliaries (GTAE), for the NGMV project.
9. (HAL) & Cochin Shipyard
Limited (CSL) About Next Generation Missile Vessel (NGMV) project

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 • Under this project, Indian Navy intends to acquire six advanced
missile vessels.
• CSL will be building these six advanced missile vessels.
• Purpose: USD 100 million contract involves the manufacturing and
Mahindra Aerostructures
delivery of metallic components for the entire Airbus commercial
10. Pvt Ltd (MASPL) and
aircraft family, including the A320 family planes.
Airbus Atlantic
• Airbus Headquarters: France.
• Purpose: To jointly develop an indigenous Train Control Management
System (i-TCMS), often referred to as the "brain of the train”.
• BEML and BEL, both are India’s leading Defence Public Sector
Bharat Earth Movers Undertakings (PSUs).
11. Limited (BEML) and Bharat
About BEML Limited
Electronics Limited (BEL)
• Leading 'Schedule A' company’ under Ministry of Defence.
• Operates in 3 verticals: Defence & Aerospace, Mining & Construction,
and Rail & Metro.

BANKING AND FINANCE

S.No Program / Initiative Key Facts

• The new gold backed currency of Zimbabwe.

Zimbabwe Gold (ZIG)
• Replaced Zimbabwean dollar.
1.
• ZiG banknotes come in denominations of between 1 and 200.
• The US Dollar will also remain legal tender in Zimbabwe.

• Indian Renewable Energy Development Agency Limited (IREDA) has

achieved its highest-ever annual
loan sanctions and disbursements in
IREDA loan sanctions and
the financial year 2023-24.
disbursements in 2023-
o Loans sanctioned: Rs. 37,354
2. 2024
crores.
o Loans disbursed Rs. 25,089
crores.
o The fiscal year saw a 26.71% growth in IREDA's loan book, which
now stands at Rs. 59,650 crores.

• PFC pays highest-ever interim dividend of Rs. 2,033 crores to

Government of India for the financial year 2023-24.
Interim Dividend payment
3. • The total interim dividends for FY 2023-24 by PFC amounts to Rs.
by PFC in 2023-24
3,630 crores, which is 110% or Rs. 11 per equity share, the highest
ever interim dividend paid by PFC.
• ICICI Securities received approval from its shareholders for the
Delisting of ICICI
delisting of its stock, setting the stage for a merger with ICICI Bank.
4. Securities and Merger with
ICICI Bank • Post merger, ICICI Securities will operate as a wholly-owned
subsidiary of ICICI Bank.
• Warburg Pincus sold its entire 2.25% stake in IDFC First Bank,
Warburg Pincus exits IDFC
5. through its affiliate Cloverdell Investment Ltd, for Rs 1,195 crore
First Bank
through an open market transaction.
• Launched by: J&K Bank, in partnership with Paymart India Pvt Ltd.
Virtual ATM (VATM)
6. • Transaction Limits withdrawal of up to Rs 2,000 cash per transaction
facility in J&Kand Ladakh
and a total of Rs 10,000 per month.

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 • Canara SHG e-MONEY: A digital initiative for Self-Help Groups
(SHGs), offering instant digital credit facilities.
o This initiative, a collaboration with Reserve Bank Innovation Hub
(RBIH), positions Canara Bank as the first bank to provide
New Banking Products and seamless doorstep digital services to SHGs.
7. Services by Canara Bank • Canara Heal: designed to cover hospitalization expenses not
immediately covered by healthcare insurance.
• Canara Angel: savings account tailored for women.
• Canara UPI 123PAY ASI: A user-friendly payment interface aimed at
simplifying transactions for users.
• Competition Commission of India (CCI) has approved Axis Bank's
Axis Bank's acquisition of a
8. proposed acquisition of additional 6% stake buy in Max Life
stake in Max Life Insurance
Insurance; Deal Value: Rs1,612 crore.
• Sebi has received the ISO/IEC 27001:2022 certification for its-
o Information Security Management System at the Primary Data
Sebi Achieves
Centre, Security Operations Control (SOC)
International Organization
o Network Operations Control (NOC) Operations,
9. for Standardization (ISO)
o Information Security Management System at the Disaster
Certification for Security
Recovery site.
Management
• The ISO/IEC 27001:2022 is recognized internationally as a benchmark
for information security management systems (ISMS).
• Rs 1 crore on IDFC First Bank for non-compliance with directions
RBI Penalization of LIC related to 'Loans and Advances - Statutory and Other Restrictions'.
10. Housing Finance and IDFC • Rs 49.70 lakh on LIC Housing Finance for non-compliance with
First Bank provisions of the 'Non-Banking Financial Company - Housing Finance
Company (Reserve Bank) Directions, 2021'.

DEFENCE EXERCISES/ INITIATIVES/ TECHNOLOGY

S.No Exercise/ Technology Key Facts

• The first ever conference of the Heads of all Tri- Services
Institutions, the Department of Military Affairs (DMA), Headquarters
Parivartan Chintan Integrated Defence Staff (IDS) and the three services
1. • Organized by: Ministry of Defence; Venue: New Delhi
• Chaired by: Chief of Defence Staff
• Objective: to generate new and fresh ideas, initiatives and reforms to
propel Jointness and Integration efforts
• Initiative of: Indian Air Force (IAF).
• Objective: to test IAFs capabilities and preparedness for high-intensity
operations.
• Venue: Bhuj in Gujarat, Ladakh, Arunachal Pradesh, Pokhran Field
Firing Range in Jaisalmer & other locations across the country.
• It is the biggest IAF exercise after ‘Vayu Shakti’.
2. Gagan Shakti 2024
• The Indian Army is providing logistics support, including passenger
trains named Sanyukta Express.
• The previous edition was held in 2018.
• Pan India emergency landing facility operated by the IAF.
o IAF operated from the Emergency Landing Facility (ELF) in the
northern sector in Kashmir valley.
• Hindustan Aeronautics Limited (HAL) has delivered two Dornier 228
3. Dornier 228 planes
aircraft to the Guyana Defence Force.

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 • The delivery is a part of the Line of Credit from India to Guyana.
• Strategic Forces Command (SFC) & Defence Research and
Development Organisation (DRDO) have successfully test fired Agni-
Prime.
Agni-Prime- a new
4. • It is a two-stage canisterised solid propellant ballistic missile with
generation ballistic missile
dual redundant navigation and guidance system.
• Range: 1,000-2,000km.
• It is lighter than all the earlier Agni series of missiles.
• The Indian Army has initiated the induction of control and reporting
systems under 'Project Akashteer'.
• The induction began with the flagging off of the first batch of control
centers from BEL-Ghaziabad.
About Project Akashdeer
Project Akashdeer • Initiative of: Bharat Electronics Limited (BEL)
5. • Launched under: Atmanirbhar Bharat
• Akashteer Control Centres are designed to automate air defence
control and reporting processes by digitizing the entire workflow,
enhancing the response capabilities to aerial threats.
• Aim: bolstering the air defence capabilities of the Indian Army.
• Significance: The introduction of these systems aligns with 2024
being designated as the ‘Year of Tech Absorption’.
• DRDO will be setting up a small test centre for the country's weapon
6. New Test Centre of DRDO systems in Junput village, Purba Medinipur district in West Bengal.
• Junput village is situated by Bay of Bengal.
• India's defence exports have reached a record high of Rs 21,083 crore
7. India's Defence Exports (approximately USD 2.63 billion) in FY 2023-24, marking a 32.5%
increase over the previous fiscal year's exports of Rs 15,920 crore.
• It is a coastal security exercise.
8. Sagar Kavach • Participants: maritime security agencies of India.
• Venue: off the Lakshadweep Islands.

SCIENCE & TECHNOLOGY

S.No Technology in News Key Facts

• Launched by: World Health Organization (WHO).
Smart AI Resource • Technology supported by: Soul Machines Biological AI.
Assistant for Health • It is a generative AI-powered digital health promoter prototype
1. (S.A.R.A.H./ Sarah) designed to improve public health education and awareness.
• It is capable of engaging users in 8 languages, 24/7, across multiple
health topics on any device, aiming to optimize individual health and
well-being journeys.

Space science and • Initiative of: ISRO

Technology Awareness • Aim: to attract youth to the fields of space science and technology.
Training (START) 2024 • Target Beneficiaries: postgraduate and final-year undergraduate
2. programme students who are pursuing physical sciences and technology.
• It comprises introductory level topics on various verticals of space
science and technology.

• NASA's Curiosity Mars rover, currently in its twelfth year, has entered
3. Gediz Vallis a new phase of its mission, investigating Gediz Vallis.
• Gediz Vallis is a former riverbed on Mars.

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 • Developed by: South Korean scientists at the KSTAR Research Center.
• KSTAR, known as the "artificial Sun," has achieved a new world
Korea Superconducting record by sustaining plasma temperatures at 100 million degrees
4. Tokamak Advanced Celsius for 48 seconds.
Research (KSTAR) Project • This record temperature is seven times higher than that of the Sun's
core, which is around 15 million degrees Celsius.
• The achievement surpasses the facility's previous 30-second record.
• Developed by: Venturi Astrolab Inc.
Flexible Logistics and
• It has been successfully tested in California's Mojave Desert.
Exploration (FLEX) vehicle-
5. • It is designed for NASA's Artemis program, with the goal of returning
a next generation lunar
humans to the Moon by 2025 and establishing a sustainable lunar
rover
base.
• Initiative of: Agnikul Cosmos, a Chennai-based space startup.
• Launch Vehicle: Agnibaan Sub-Orbital Technology Demonstrator
(SOrTeD).
• The SOrTED mission has been called off for the third time.
• SOrTeD mission involves a single-stage launch vehicle
demonstration powered by the Agnilet engine, a sub-cooled liquid
oxygen-based propulsion system developed indigenously.
• It features the first-ever ethernet-based avionics architecture and
fully in-house developed autopilot software from India.
6. Agnibaan Rocket
About Agnibaan Rocket
• It is the world's first with a 3D-printed, semi-cryogenic engine.
• It is a two-stage, customizable launch vehicle capable of carrying up
to 300 kg payload to a 700 km orbit.
Additional Information
• Agnikul Cosmos aims to conduct India's second private rocket
launch.
• This attempt follows Skyroot Aerospace's successful launch of the
Vikram-S sub-orbital rocket in 2022.
• Initiative of: Meta; Launched in: 2016
• Aim: to identify, review and rate content as misinformation across
Facebook, Instagram and WhatsApp.
Third Party Fact-Checking
• Press Trust of India (PTI) has joined the initiative recently.
7. Partnership (3PFC)
• With the partnership with the PTI, Meta now has 12 fact-checking
programme
partners in India, the highest it has in any country.
• It covers 16 Indian languages through existing fact-checking
partners.
• Initiative part of: European Union’s Infrastructure ELI project.
• Location: Bucharest, Romania; Operated by: French company Thales.
Activation of the world's
8. • It is based on the chirped pulse amplification (CPA) technique
most powerful laser
invented by 2018 Nobel Physics Prize winners Gerard Mourou and
Donna Strickland.
• The White House Office of Science and Technology Policy (OSTP)
has directed NASA, in collaboration with other U.S. government
Establishment of a agencies, to establish a LTC by the end of 2026.
Coordinated Lunar Time • Aim: to serve as a benchmark for lunar spacecraft, satellites, and
9.
(LTC) for the moon and potential bases requiring precise time-keeping for missions.
other celestial bodies. • Implementing LTC will involve international agreements through
existing standards bodies and among the 36 nations that have
signed the Artemis Accords.

14 | P a g e
 Additional Information
• India has announced plans to send an astronaut to the moon by
2040.
• China aims to put its first astronauts on the moon by 2030.
• Artemis 3 (2026) is planned to be the first American crewed lunar
landing since Apollo 17 in December 1972.
• Bandwagon-1 mission is SpaceX's first dedicated rideshare mission
launched into a mid-inclination orbit.
• Rocket: Falcon 9.
• Objectives: Unlike the Transporter missions, Bandwagon missions
10. Bandwagon-1 mission are designed to place satellites in orbits at about 45 degrees
inclination, addressing the high demand for mid-inclination orbits.
• Bandwagon-1 carried 11 satellites, including ‘TSAT-1A’, a sub-metre
resolution optical satellite by Tata Advanced Systems Limited and
Satellogic.

ENVIRONMENT

S.No News Key Facts

• Zimbabwe is the third

country to declare drought
a national disaster after
Zimbabwe declares drought
1. Malawi and Zambia in
a national disaster
southern Africa.
• Drought in this region is
linked to El Nino weather phenomenon.

SPORTS

S.No Sports Event and Key Facts

Venue
• India secured 26 medals & finished as the runners-up.
Youth Boxing World Cup • Gold Medal Winners:
2024 (3rd Adriatic Pearl o Brajesh Tamta (48 kg) under Youth Men Category.
2. tournament) o Chanchal Chaudhary (50 kg), Nikita Chand (60 kg), Parthavi Grewal
Venue: Budva, Montenegro (66 kg), Phalaswal Akansha (70 kg) under Youth Women Category.
• Nikita Chand was awarded the ‘best boxer’ of the tournament.

Orlen Polish Open • Winner & runner-up

International Challenge o Women’s singles: Anupama Upadhyaya (India) defeated her
3. Badminton Tournament compatriot, Tanya Hemanth.
o Men’s Double: MR Arjun and Dhruv Kapila (India) defeated William
Venue: Warsaw, Poland Kryger Boe and Christian Faust Kjær (Denmark).
• Medallists
o Gold Medal: Kang Hyon Gyong (North Korea) with a total lift of
International Weightlifting 234kg
4. Federation (IWF) World Cup o Silver Medal: Cambei Mihaela-Valentina (Romania) with a personal
Venue: Phuket, Thailand best of 201kg
o Bronze Medal: Bindyarani Devi (Manipur, India) in the women's
55kg event with a total lift of 196kg).

15 | P a g e
 • Additionally, Bindyarani Devi won a silver medal in the clean and jerk
section for her 113kg lift.
• Maharashtra emerged champions in both men's and women's
56th National Kho Kho
5. categories by defeating Railways and Airports Authority of India
championships
respectively.
• New Zealand shot putter Valerie Adams has been named as the
16th edition of the TCS
International Event Ambassador of the event.
6. World 10K Bengaluru (road
• She is the first woman to win four consecutive individual titles at the
running competition)
WA World Championships.

ATP Miami Open Masters • Winner: Jannik Sinner (Italy); Runner Up: Grigor Dimitrov (Bulgaria).
7.
1000 tennis tournament • Venue: Hard Rock Stadium, Miami.

AWARDS

S.No Award/Milestone Key Facts

• Awarded to: REC Limited (Renewable Energy Financing Category).

SKOCH ESG Award About SKOCH ESG Award

2024 • Awarded by: SKOCH Group
1. • Purpose: recognize organizations that demonstrate outstanding
performance in Environmental, Social, and Governance (ESG) practices.
• It serves as important benchmark for evaluating organizations'
commitment to India 2047.

exchange4media News
• Lifetime Achievement awarded to Vineet Jain, MD of Times Group for his
2. Broadcasting Awards
contributions to the Indian television news landscape.
(ENBA)

• SJVN Limited has been awarded the ‘Achievement Award for Creating
Social Development & Impact’ and ‘CIDC Partners in Progress Trophy’.
15th CIDC • SJVN Limited has received this award for the third consecutive year.
3. Vishwakarma Awards • GAIL won in the ‘Achievement Award for Best Construction Projects’
2024 category for its Barauni – Guwahati Natural Gas Pipeline project (BGPL).
About the award
• Awarded by: Construction Industry Development Council (CIDC).
• It consists of 90 individuals who have demonstrated exceptional
leadership in their fields and a commitment to making a positive impact
in society.
• Five Indians have been included in this year’s cohort.
o Priya Agarwal Hebbar, Chairperson, Hindustan Zinc Ltd. & Non-
Executive Director, Vedanta Ltd.
Young Global Leaders o Bhumi Pednekar, Actor
4. Community: The Class o Adwaita Nayar, CEO of Nykaa Fashion
of 2024 o Arjun Bhartia, Director at Jubilant Group
o Sharad Vivek Sagar, Founder and CEO of Dexterity Global.
About Young Global Leaders Community: The Class of 2024
• Initiative of: World Economic Forum; Started in: 2004
• Aim: to acknowledge and bring together diverse changemakers under 40
years old from various sectors who are shaping the future and accelerating
positive change globally.

16 | P a g e
 • Overseas Dental Specialist (Orthodontics and Orofacial Pain) title
awarded to Dr. Karthik Kommuri.

National Fame Awards About National Fame Awards

5. • Awarded by: Brands Impact
2024
• Purpose: to recognize and celebrate individuals and organizations that
have achieved fame and nationwide popularity due to their inspiring
achievements and positive impact in their respective fields.
• Awarded to: INS Sharda for rescuing Iranian fishing vessel Omari which
On the Spot Unit
6. was held hostage by pirates off East coast of Somalia.
Citation
Awarded by: Indian Navy.
• Awarded by: Ministry of Ports, Shipping and Waterways
• Awarded on: 61st National Maritime Day
Category Significance
Sagar Samman Varuna Award Highest honor for outstanding and
sustained contributions to the Indian
7. Sagar Samman Awards maritime sector.
Sagar Samman Award for Excellence Recognizes consistently excellent
contributions to the maritime sector.
Sagar Samman Award for Gallantry Honors acts of gallantry by Indian
seafarers, encouraging emulation of
their exemplary conduct.

APPOINTMENT
• Why in News: appointed as the first female Prime Minister of the Democratic Republic of
Congo.
• Predecessor: Jean-Michel Sama Lukonde.

Judith Suminwa
Tuluka
• Why in News: appointed as the President of the Associated Chambers of Commerce and
Industry of India (ASSOCHAM).
o Predecessor: Ajay Singh, Co-Founder of SpiceJet.
• He holds positions as a non-official member of the Board of Trade, Government of India.
• He is also a member of the National Startup Advisory Council & Board of the US-India
Strategic Partnership Forum (USISPF). Sanjay Nayar,
About ASSOCHAM Chairman, Sorin
• It is one of the apex trade associations of India. Investment Fund
• Establishment: 1920; Headquarters: New Delhi.

• Why in News: elected as the President of Senegal.

• He is Africa’s youngest elected President.
Bassirou • Predecessor: Macky Sall.
Diomaye Faye
• Why in News: appointed as the Prime Minister of Senegal.
• Predecessor: Sidiki Kaba.

Ousmane Sonko

• Why in News: appointed as the chairperson of an internal departmental committee by the

Delhi High Court, dealing with the protection of forests in the national capital.

17 | P a g e
 Justice Najmi o The committee is tasked with the protection, preservation, reclamation, and
Waziri enhancement of forests in Delhi
• He is a retired judge of the Delhi High Court.
• He is fondly known as “Green Judge”.
• Why in News: Appointed as the presiding officer of the Securities Appellate Tribunal (SAT).
o Predecessor: Justice Tarun Agarwala.
• Dheeraj Bhatnagar has been appointed as the technical member of the SAT.
• Prior to these appointments, only Meera Swarup was acting as its technical member
About SAT
P S Dinesh
• It is a statutory body established under section 15K of the SEBI Act, 1992.
Kumar
• It hears and disposes of appeals against the orders of SEBI, IRDAI, PFRDA, and appeals
against the decisions of stock exchanges and depositories; Total Members: Three.
• Why in News: appointed as a member of the World Bank Economic Advisory Panel.
o Currently, he holds the position of president emeritus and distinguished fellow at the
Centre for Social and Economic Progress (CSEP).
o He is a part-time member of the Prime Minister's Economic Advisory Council.
o He is the former deputy governor of the Reserve Bank of India (RBI).
• The Economic Advisory Panel of the World Bank Group will be chaired by Lord Nicholas
Stern and co-chaired by World Bank Group Chief Economist Indermit Gill.
Rakesh Mohan
• The panel will focus on strategic issues for the World Bank Group in relation to their
objectives, research agenda and actions.
• Each member of the panel will serve for a two-year term.

• Why in News: sworn in as the President of the Egypt for third time.
• His swearing in ceremony also marked the inauguration of the New Administrative Capital
of Egypt, located in the desert east of Cairo Abdel Fattah el-
Sisi
• Why in News: Elected as the President of the Federation of Indian Micro and Small &
Sandeep Jain Medium Enterprises (FISME) for the term 2024-25.
• Predecessor: Prashant Patel.

• Why in News: appointed as the MD & CEO of Bank of Maharashtra.

• Predecessor: A.S. Rajeev.
• Appointed by the Government of India under the provisions of Section 9(3)(a) of Banking
Companies (Acquisition and Transfer of Undertakings) Act, 1970.
Nidhu Saxena
• Why in News: Elected as the chairman of the National Cooperative Dairy Federation of
India Limited (NCDFI).
• Shah also serves as the chairman and managing director of the NDDB.
• About NCDFI:
o NCDFI is the apex body of dairy cooperatives in India, headquartered in Anand
(Gujarat).
o Registered in 1970, and governed under Multi State Cooperative Societies
Dr. Meenesh Shah (Amendment) Act, 2023.
• NCDFI has Anand-based National Dairy Development Board (NDDB) as its institutional
member.
• Why in News: Appointed as the new CEO and Managing Director of Wipro for a term of 5
years, succeeding Thierry Delaporte.
• Delaporte was the highest-paid CEO in the Indian IT sector in 2023.

18 | P a g e
About Wipro Limited

• Founded by Mohamed Premji in 1945, is a leading global IT services company.

• Chairman: Rishad Premji.

Srinivas Pallia

PERSONS IN NEWS
• Why in News: nominated as a member of the Asian Athletic
Commission for four-year term (2024 to 2028).
• She is a retired Athlete from Kerala.
• She is a recipient of the prestigious Arjuna Award and
Shiny Wilson Padma Shri.
• Why in News: retired from the Rajya Sabha, marking the end of his 33-year-long
parliamentary career.
• He was nominated to the Rajya Sabha for the first time in 1991.
• He represented Assam for five terms and shifted to Rajasthan in 2019.
• B Prime Minister of India from 2004 to 2014 across two terms.
• He was third PM from the Rajya Sabha after Indira Gandhi (in her first term) and Inder
Kumar Gujral. Dr. Manmohan
• He is credited for opening the Indian economy to global competition and often regarded Singh
as architect of India’s economic liberalisation as Finance Minister in 1991.

• Why in News: roped in by the Election Commission of India to urge the youngsters to
vote in the upcoming Lok Sabha elections.
Ayushmann
Khurrana
• Why in News: won the Slovakia's presidential election, against Ivan Korcok.
• Predecessor: Zuzana Čaputová (first female President of Slovakia)

Peter Pellegrini
• Why in News: Mirabai Chanu has become the only Indian weightlifter to qualify for the
Paris Olympics 2024 after her performance at the IWF World Cup in Phuket (Thailand),
where she finished 3rd in Group B of the women’s 49kg category and 11th overall.
• Chanu is a Tokyo Olympics silver medalist and 2017 world champion in weightlifting.
Mirabai Chanu
• An Asian Games medal remains the only one Chanu hasn't secured yet.

OBITUARIES
• He was a famous Tamil and Telugu actor.
• He was from Kakinada, Andhra Pradesh

Visweswara Rao
• She was an American actress.
• She won Golden Globe Award for the most promising newcomer in 'It Came from Outer
Space'.
Barbara Rush

19 | P a g e
• He was an American visual effects artist.
• He won a Special Achievement Academy Award in Best Visual Effects category for the
film Total Recall.

Tim McGovern

FAIRS AND FESTIVALS

S.No Name Key Facts

• Organized at: Wadia college Sports Ground, Pune (Maharastra)

• Organizers: Morarji Desai National Institute of Yoga and National
Institute of Naturopathy, Ministry of Ayush.
• Organized under: '100 days, 100 cities, and 100 organizations'
Yoga Mahotsav - 75 Days campaign
1. countdown to International
About '100 days, 100 cities, and 100 organizations' campaign
Day of Yoga 2024
• Ministry of Ayush along with Morarji Desai National Institute of Yoga
is organizing this campaign in collaboration with various
Universities/Institutes/Colleges.
• Duration: 13th March to 21st June 2024 (10th International Day of
Yoga).

PLACES IN NEWS

S.No Place Key Facts

• It has emerged as the highest cargo handling major port in India,

recording a remarkable cargo throughput of 145.38 million metric tonnes
(MMT) in 2023-24.

Paradip Port, Odisha

• For the first time in the 56 years history of operation, It has surpassed
1.
previous records, set by Deendayal Port in Kandla, Gujarat.
• It has achieved highest ever coastal shipping traffic of 59.19 million
metric tonnes, with a growth of 0.76 million metric tonnes i.e. 1.30%
over the previous year.
• It celebrated its 125th anniversary on 1 April.
Kodaikanal Solar • It is a field station under the Indian Institute of
2. Observatory (KSO), Astrophysics (IIA), an autonomous institute of the
Tamil Nadu Department of Science and Technology (DST).
• It was established in 1899 by the British.
• It is an uninhabited island in Sri Lanka.
• In 1974, India and Sri Lanka signed an agreement to demarcate the
3. Katchatheevu Island boundary between the two countries in the historic waters from Palk
Strait to Adam’s Bridge.
• Under this agreement, Katchatheevu was ceded to Sri Lanka.
• Archaeologists have excavated 5,200-year-Old Harappan Settlement at
Padta Bet near Khatiya village in Kachchh District, Gujarat.
4. Kachchh, Gujarat • The site is part of Indus Valley civilization (Harappan civilization).
• Excavation done by researchers from Kerala University in collaboration
with various national and international institutions.

20 | P a g e
 Indian Coast Guard
5. • Inaugurated at: ICGS Mandapam near Rameshwaram, Tamil Nadu.
Aquatic Centre

• Syama Prasad Mookerjee Port, Kolkata including Kolkata Dock System

and Haldia Dock Complex achieved an all-time record cargo handling
(66.4 Million Metric Tonnes (MMT)) since 1870.
Syama Prasad • This marks a 1.11% increase from the previous record of 65.66 million
6.
Mookerjee Port, Kolkata tonnes moved in 2022-23.
• Haldia Dock Complex handled 49.54 MMT in FY 2023-24, marking its
highest cargo volume ever since its inception, crossing the previous
record of 48.608 MMT in FY 2022-23.

DAYS IN NEWS
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6

World 260th International International International

Autism Raising Day for Mine Day of Day of Sport
Awareness Day of Awareness Conscience for
Day Army and Development
Foundation Medical Assistance Theme: and Peace
Day of the Theme: Corps in Mine ‘Promoting a
Indian 'Empowering Action Culture of Theme:
Institute of Autistic Army Peace with “Sport for the
Astrophysics Voices' Medical Theme: Love and Promotion of
(IIA) Corps 'Protecting Conscience’. Peaceful and
was Lives. Inclusive
raised in Building Societies”.
1764. Peace.'
Odisha 61st National National
Foundation Motto: Maritime Day Library Day
Day (Utkal ‘Sarve (Theme:
Divas/ Santu "Navigating
Vishuva Niramaya’ the future:
Milan) safety first!")

Odisha was Merchant

established in Navy Week
1936 (30th March
International to April 5)
Nation Children's
Prevention Book Day The day pays
of Blindness (ICBD) tribute to the
Week maiden
(1-7 April) Official voyage of the
Sponsor: first Indian-
Led by: International owned ship,
National Bureau of SS Loyalty
Society for Children's from Mumbai
the Books (IBBY) to London in
Prevention of Japan 1919.
Blindness

21 | P a g e
 Theme: Grand finale National
"Cross the on theme Handmade
Seas on the "Sustainable Day
Wing of your Shipping:
Imagination" Opportunities Theme: 'Buy
and a Handmade
Challenges". Product'

The day is
observed
every year on
the first
Saturday in
April
7 8 9 10 11 12 13
World Health
Day
Theme: 'My
health, my right'.

14 15 16 17 18 19 20

21 22 23 24 25 26 27

28 29 30

Note: International Transgender Day of Visibility was observed on March 31.

MISCELLANEOUS

S.No News Key Facts

• Adani Ports and Special Economic Zone Ltd (APSEZ) has acquired
Adani Ports acquire
1. Gopalpur Port in Odisha from the Shapoorji Pallonji Group (SP
Gopalpur Port
Group) and Orissa Stevedores Ltd (OSL).
• Pluto was discovered by American astronomer Clyde Tombaugh at
Pluto declared ‘official state the Lowell Observatory in Flagstaff of Arizona in 1930
2.
planet’ of Arizona, USA • Also known as ‘dwarf planet’, it was stripped of its official status as
a planet in 2006 by the International Astronomical Union.
Thailand to legalize
3. surrogacy for foreign --
couples & same sex couples
• Romania and Bulgaria have partially joined the Schengen area,
allowing air and sea travellers from the zone to enter without ID
checks.
• The land border checks remain due to concerns from Austria.
About Schengen zone
Schengen zone- Europe’s
4. • Established in: 1985
‘border-free’ travel system
• Objective: To enable passport-free travel across EU member
countries.
• Members: 25 of the 27 EU (European Union) member countries plus
4 non-EU countries (Switzerland, Norway, Iceland, and
Liechtenstein).

22 | P a g e
 Germany legalizes cannabis • Up to 25 grams of cannabis can be used for personal use.
5.
possession for personal use • This new law came into effect from April 1.

2 GA + ESI

SUSTAINABLE DEVELOPMENT AND ENVIRONMENT

2.1 India’s Renewable Energy Capacity
Why in News
• India is significantly expanding its hydroelectric power capacity, with projects under
construction set to boost capacity by over 50% by 2031-32.
Key Highlights
• Hydroelectric Power capacity aiming to
increase from 42 GW to 67 GW by 2031-32.
o Hydroelectric power projects in Northern
and Eastern regions of India comprises
over 60% of total hydro energy generation.
o Southern region contributes 22% of the
total hydro energy generated.
• Pumped Storage Projects (PSPs), also known as ‘Water Battery,’ capacity is expected to
reach from 4.7 GW to around 55 GW by 2031-32.
• Renewable Energy Installed Capacity (excluding Large Hydro) has increased to 136.57
GW as on February 2024, at a Compound Annual Growth Rate (CAGR) of 14.94%.

2.2 Cyber Surakshit Bharat Initiative

Why in News
• 43rd batch of Chief Information Security Officers' (CISO) Deep Dive Training
Programme under the Cyber Surakshit Bharat Initiative commenced.
Key Highlights
• Organized by: National e-Governance Division (NeGD), under Ministry of Electronics and
Information Technology (MeitY).
• Training took place at the Indian Institute of Public Administration in New Delhi.
About Cyber Surakshit Bharat Initiative
• Launch Year: Launched in 2018.
• Ministry: Ministry of Electronics and Information Technology (MeitY).
• Implementing Agency: National e-Governance Division (NeGD).
• Objective: To educate CISOs and IT officials on cybersecurity, legal provisions, and crisis
management to support the Digital India programme.
• Features: First-of-its-kind of partnership between the Government and industry
consortium under Public Private Partnership (PPP) model.

23 | P a g e
2.3 Suvidha Portal
Why in News
• Suvidha Portal has received over 73,000 applications from political parties and candidates
since the announcement of the General Elections 2024.
About Suvidha Portal
• Implementing Agency: Election Commission of India (ECI).
• Objective: To provide a transparent, efficient, and inclusive platform for political parties
and candidates to submit permission requests related to election campaigning.
• Features:
o First in First Out principle to ensure fairness.
o Utilizes the ENCORE (Enabling Communications on Real-time Environment) system
for forwarding both digitized and online permission requests to the relevant officers
and nodal officers for approval.

INDUSTRIAL DEVELOPMENTS IN INDIA

2.4 Defence Exports in FY24
Why in News
• India's defence exports achieved a record
₹21,083 crore in FY 2023-24.
Key Highlights
• Private sector contributed 60% to the exports,
while Defence Public Sector Undertakings
(DPSUs) accounted for remaining 40%.
• Number of export authorisations increased to
more than 1500 in FY24.
• India has set a defence export target of ₹35,000
crore by 2024-25.
• Around 100 Indian firms are currently exporting
military hardware to around 85 countries.
• Ambitious Targets: India's annual defence
production is anticipated to reach Rs 3 lakh
crores by 2028-29, with exports of military
hardware expected to hit Rs 50,000 crore.
o Annual defence production in FY24: Rs 1.10
lakh crore.
Additional Information
• Foreign Direct Investment (FDI) limit in defence sector: 74% through Automatic Route
and up to 100% through the Government Route.

24 | P a g e
 SUSTAINABLE DEVELOPMENT AND ENVIRONMENT
2.5 Greenpeace International Survey on Plastic Pollution
Why in News
• Greenpeace International's survey reveals overwhelming global support for reducing
plastic production to safeguard biodiversity and climate, aligning with the UN's ambition
for a significant plastic production cut by 2040.
Key Highlights
• 87% of Indian respondents support cutting the production of plastic to stop plastic
pollution.
• 89% of Indian respondents believe that the Global Plastics Treaty should include targets
that oblige governments and corporations to transition away from single-use plastic
packaging to reusable and refillable packaging
• 80% of global respondents advocate for protecting biodiversity and the climate by
reducing plastics production.
• 90% of global respondents endorse
transitioning away from single-use plastic
packaging to reusable and refillable alternatives.
• 75% of global respondents support a ban on
single-use plastic packaging.
• 90% of Indians are concerned about the adverse
health effects of plastics on their children’s
health.
• 79% of Indian respondents advocating for the
exclusion of lobbyists from the fossil fuel and
chemical industries from treaty negotiations.
Additional Information
• The survey comes ahead of the fourth Intergovernmental Negotiating Committee (INC4)
meeting for a legally binding Global Plastics Treaty to be held in Ottawa, Canada in April
2024.
• Greenpeace is demanding that Global Plastics Treaty cuts total plastic production by at
least 75% (From a 2019 baseline) by 2040 to protect biodiversity and ensure that global
temperatures stay below 1.5° C.
• Greenpeace International is an independent environmental network.

2.6 Convention on Biological Diversity

Why in News
• United Nations Secretary-General António Guterres appoints Astrid Schomaker
(Germany) as the Executive Secretary of the Secretariat of the Convention on Biological
Diversity, following consultation with the Bureau of the Conference of the Parties.
Key Highlights
• Predecessor: David Cooper (UK).

25 | P a g e
About Convention on Biological Diversity
• Launch Year: Established in 1992 during the Earth Summit in Rio de Janeiro.
o Convention entered into force on 29 December 1993.
• CBD has been ratified by 196 nations.
• Conference of the Parties (COP) serves as the CBD's governing body, convening
biennially to evaluate progress, establish priorities, and plan future work.
• Implementing Agency: Operates under United Nations Environment Programme (UNEP).
• Secretariat: Montreal, Canada.
• Objective: To conserve biological diversity, promote sustainable use of its components,
and ensure the fair and equitable sharing of benefits arising from genetic resources.

SOCIAL JUSTICE
2.7 Bharat Brand
Why in News
• Ministry of Consumer
Affairs, Food and Public
Distribution has expanded
the number of agencies
permitted to directly
source wheat for Bharat
Atta.
Key Highlights
• Agencies like National
Agricultural Cooperative
Marketing Federation of
India (Nafed) and National Co-operative Consumers' Federation of India (NCCF) can now
directly procure wheat from farmers, aiming to reduce reliance on Food Corporation of
India (FCI).
• Move is targeted at supporting farmers from states like Bihar, Rajasthan, and eastern
Uttar Pradesh, who are often unable to benefit from minimum support prices (MSP).

GLOBALIZATION
2.8 North Atlantic Treaty Organization (NATO)
Why in News
• NATO celebrates its 75th anniversary.
Key Highlights
• Sweden became NATO's 32nd member recently.
About NATO
• Launch Year: 1949 through Washington Treaty or North Atlantic Treaty (Signed on April
4, 1949).
• Headquartered in Brussels (Belgium).
• Developed by: Founded by 12 original member countries in Washington D.C.

26 | P a g e
 • Objective: To guarantee the freedom and security of its members through political and
military means.
• Features:
o Article 5: A collective defense guarantee, stating an attack against one ally is
considered an attack against all allies.
✓ It has only been invoked once in response to the Al-Qaeda attacks in 2001.
o In 2014, NATO members pledged to spend at least 2% of their GDP on defence.
o While NATO has a liberal “open door” policy for membership, all members need to ratify
the entry of a new applicant for it to become a member.

2.9 World Bank Group

Why in News
• Artemis Medicare Services Ltd. has entered into a
funding agreement with the International Finance
Corporation (IFC), a World Bank Group entity, to raise
₹330 crores through compulsorily convertible
debentures (CCDs).
Key Highlights
• Purpose: To enhance healthcare accessibility and
quality, supporting Artemis Medicare's expansion plans in various cities and introducing
new medical specialties.
About World Bank Group
• Launch Year: Established in 1944 during the Bretton Woods Conference.
• Members: 187 countries
• Objective: To provide financial and technical assistance to developing countries for
development programs that are expected to improve the economic prospects and quality
of life for people in those countries.
• Group consists of 5 organisations:
o International Bank for Reconstruction and Development (IBRD) lends to low- and
middle-income countries.
o International Development Association (IDA) lends to low-income countries.
o International Finance Corporation (IFC) lends to the private sector.
o Multilateral Investment Guarantee Agency (MIGA), created in 1988, promotes
foreign direct investment into developing countries to support economic growth,
reduce poverty, and improve people's lives.
o International Centre for Settlement of Investment Disputes (ICSID) helps private
investors and foreign countries work out differences when they don't agree.
• Together, IBRD and IDA make up the World Bank.
• The Bank borrows the money it lends.

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3 GA + FINANCE

RECENT DEVELOPMENTS IN FINANCIAL SECTOR

3.1 HP Future Impact Leaders - IICA Certified Environmental-Social-
Governance (ESG) Professional Programme
Why in News
• Indian Institute of Corporate Affairs (IICA), an
autonomous institute under Ministry of
Corporate Affairs, and HP India have launched
the Programme.
Key Highlights
• Target: To offer advanced education in ESG
to 75 candidates with 100% scholarships.
• Objective: To empower Corporate Social
Responsibility (CSR) professionals with
advanced knowledge and skills in ESG.

KEY DEVELOPMENTS IN FINANCIAL SECTOR

3.2 SCORES 2.0
Why in News
• Securities and Exchange Board of India (SEBI)
has launched SCORES 2.0.
About SCORES 2.0
• Objective: To strengthen investor complaint
redress mechanism by making the process more
efficient and user-friendly.
• Features:
o Standardized timelines for complaint
resolution set at 21 calendar days.
o Auto-routing of complaints to relevant authorities.
o Monitoring of timely resolution by designated bodies.
o A two-tier review process (Designated Body at 1st level and SEBI at 2nd) for unresolved
complaints.

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 o Integration with the KYC Registration Agency database for simplified investor
registration.

3.3 Foreign Portfolio Investors (FPIs)

Why in News
• Foreign Portfolio Investors (FPIs) have recorded the highest yearly inflow into India's debt
market in over nine years during FY 2023-2024.
Key Highlights
• February witnessed the highest monthly inflow of ₹22,419 crore.

3.4 Government's Dividend Collections from Non-Financial CPSEs

Why in News
• Government's dividend collections from non-
financial central public sector enterprises
(CPSEs) and entities with minority stakes
reached a record high (~₹64000 crore,
27.5% year-on-year) above its target of Rs.
50,000 crores in the fiscal year 2023-24.
Key Highlights
• Disinvestment proceeds: ₹16,507 crore
(Expected ₹18,000 crore).
• Expectations for FY25: Government
anticipates raising ₹50,000 crore from
disinvestment, including ₹15,000 crore
from asset monetisation.

3.5 Asset Monetisation

Why in News
• Ministry of Road Transport and Highways (MoRTH) raised Rs 40,314 crore in FY24,
significantly exceeding its target of Rs 28,968 crore.
Key Highlights
• Ministry utilized 3 modes of asset monetisation:
o Toll-Operate-Transfer (TOT) model
o Infrastructure Investment Trust (InvIT)
o Project-based financing (Securitisation)
Key Terms
• Toll-Operate-Transfer (TOT) Model:
o Government has authorized National Highways Authority of India (NHAI) to monetize
publicly funded National Highway (NH) projects, that have been operational and
generating toll revenues for at least two years post the Commercial Operation Date
(COD), through the Toll Operate Transfer (ToT) Model.
o It allows concessionaires to collect toll revenues for a predetermined period in
exchange for an upfront lump-sum payment, subject to case-by-case approval by
competent authorities.
• Securitisation:
o Under securitisation, NHAI gets an upfront pay-out for the asset.
o This amount is reimbursed in tranches from the toll income of the asset to the lender.

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 o There is no payment to lenders before toll income is generated from a project.
o This model is preferred for road assets that have a high traffic potential, seen as less
risky by financial institutions.
o Transferring an asset to an SPV (Special Purpose Vehicle) also lowers NHAI debt as the
burden is shifted to the new entity and does not remain on the books of NHAI.
Note: Kindly refer to February Month CurrentTap for more details on ‘Infrastructure Investment
Trust (InvIT)’.

3.6 Insolvency and Bankruptcy Board of India (IBBI)

Why in News
• Ministry of Corporate Affairs (MCA) has appointed two part-time members to the
Governing Board of IBBI, completing its composition as required by the Insolvency and
Bankruptcy Code (IBC) 2016.
Key Highlights
• M.P. Ram Mohan and Dinabandhu Mohapatra have been appointed as part-time members.
• Tenure: 5 years or until they reach the age of 65, whichever is earlier.
• IBBI Board Composition: IBBI Governing Board now comprises 10 members.
o 1 Chairperson, 3 Whole-time members, 2 Part-time members, 1 Reserve Bank of India
(RBI) nominee, and 3 other ex-officio members from Finance Ministry, Corporate Affairs
Ministry and Ministry of Law and Justice.
About the Insolvency and Bankruptcy Code (IBC) 2016
• Ministry: Ministry of Corporate Affairs.
• Implementing Agency: Insolvency and Bankruptcy Board of India (IBBI)
• Objective: To consolidate and amend laws relating to reorganization and insolvency
resolution of corporate persons, partnership firms, and individuals in a time-bound
manner.
• IBC provides a robust framework for debt resolution through corporate insolvency
resolution processes (CIRP) and liquidation.
• Features: Introduces a creditor-in-control model, time-bound resolution process
(initially 180 days with a 90-day extension, amended to a total of 330 days) and creation
of a Committee of Creditors (CoC) for decision-making.
• Adjudication Authorities: National Company Law Tribunal (NCLT) adjudicates
proceedings for companies, and the Debt Recovery Tribunal (DRT) for individuals.
• Liquidation Order of Payment: Under liquidation, the proceeds from the sale of the
debtor’s assets are distributed in a specific order: first, insolvency resolution costs,
including remuneration to the insolvency professional; second, secured creditors, whose
loans are backed by collateral; third, dues to workers and other employees; and finally,
unsecured creditors.
About Insolvency and Bankruptcy Board of India (IBBI)
• Launch Year: 2016 under the Insolvency and Bankruptcy Code, 2016.
• Ministry: Ministry of Corporate Affairs.
• Purpose: Serves as a crucial component of the ecosystem for implementing the Code.
o Regulates Insolvency Professionals, Insolvency Professional Agencies, Insolvency
Professional Entities and Information Utilities.
o Regulates processes, namely, corporate insolvency resolution, corporate liquidation,
individual insolvency resolution and individual bankruptcy under the Code.

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 o Designated as the ‘Authority’
under the Companies (Registered
Valuers and Valuation Rules),
2017 for regulation and
development of the profession of
valuers in the country.

3.7 Special Window for Affordable

and Mid-Income Housing
(SWAMIH) Fund
Why in News
• SWAMIH Fund, backed by the
government, has made a significant
investment in Hubtown's Rising City
project in Mumbai.
Key Highlights
• Investment aims to expedite project
completion, benefiting over 550
homebuyers.
• Mumbai is the country’s largest and
costliest property market.

3.8 IRDAI Regulations on Surrender

Charges
Why in News
• Insurance Regulatory and
Development Authority of India (IRDAI)
has released new regulations on
surrender charges.
Key Highlights
• For Non-Single Premium Products:
Regulation ensures that policies will
have a guaranteed surrender value
after premiums are paid for at least 2
consecutive years. (Covered in March
Month CurrentTap)
• For Single Premium Products: These
products, where the policyholder
pays the premium in one lump sum at
the beginning, have a different set of
surrender value guarantees:
o Within the 3rd Policy Year: At least 75% of the total premium paid.
o 4th Policy Year Onwards: 90% of the total premiums paid, with this percentage being
guaranteed if the policy is surrendered anytime during the last 2 years of the policy
term.

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 • Threshold Premium Concept: Regulations
introduce a concept of "threshold premium" for
non-linked products, which are insurance policies
not tied to market investments.
o Premiums paid up to this threshold will incur a
surrender charge of 35% on the accumulated
premium until the point of surrender.
o However, any premium paid beyond this
threshold will not be subject to surrender
charges, irrespective of when the policy is
surrendered.

3.9 Tax Collection in FY24

Why in News
• Central government's tax collection target for FY24 (₹34.37 lakh crore) has been met.
Key Highlights
• 2nd Highest GST collections were observed, with ₹1.78 lakh crore in March 2024.
o State with highest GST Collection in March:
Maharashtra.
• Gross GST collections in FY24: Rs 20.18 lakh
crore, up by 11.7% from FY23.
o Average monthly collection: ₹1.68 lakh crore.
o Order of Total Collection: Integrated Goods
and Services Tax (IGST) > State Goods and
Services Tax (SGST) > Central Goods and
Services Tax (CGST) > Cess.
Miscellaneous Points
• SBI Research and Moody's expect GDP growth for FY24 to be 8%.
• Fitch and Barclays raised their growth forecast to 7.8%.

3.10 UPI Transactions in FY24

Why in News
• Total value of Unified Payments Interface (UPI) transactions in FY24: ₹199.89 lakh crore.
Key Highlights
• Highest transactions worth ₹19.78 lakh crore were processed in March alone.
Note: Kindly refer to our ‘February CurrentTap’ for more details on UPI.

Quick Revision
• India's defence exports reached a record ₹21,083 crore in FY 2023-24, with the private
sector contributing 60% and Defence Public Sector Undertakings (DPSUs) 40%, aiming
for a target of ₹35,000 crore by 2024-25 and exporting to around 85 countries.
o Despite being the world's largest arms importer with a 9.8% global share, India aims
to increase its annual defence production to ₹3 lakh crore by 2028-29, with exports
expected to reach ₹50,000 crore.

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• SEBI launched SCORES 2.0 to enhance the investor complaint redressal mechanism with
features like standardized 21-day complaint resolution timelines, auto-routing,
monitoring by designated bodies and a two-tier review process.
• Launched in 2019 by the Ministry of Finance and registered with SEBI, the SWAMIH
Fund, managed by SBICAP Ventures, aims to provide last-mile financing to complete
affordable and mid-income housing projects, specifically targeting RERA-registered and
net worth positive projects to mitigate project failures and protect homebuyers and the
banking system.
• Total value of Unified Payments Interface (UPI) transactions in FY24: ₹199.89 lakh crore.
• India aims to increase its hydroelectric power capacity from 42 GW to 67 GW by 2031-
32, with over 60% of hydro energy generated in the Northern and Eastern regions, and is
expected to expand its Pumped Storage Projects (PSPs) capacity from 4.7 GW to
approximately 55 GW.
• The Cyber Surakshit Bharat Initiative, launched in 2018 by the Ministry of Electronics
and Information Technology and implemented by the National e-Governance Division,
aims to educate CISOs and IT officials on cybersecurity through a unique public-private
partnership to support the Digital India programme.
• Suvidha Portal, implemented by Election Commission of India, offers a transparent and
efficient platform for political parties and candidates to submit election campaign
permission requests, utilizing the ENCORE system for real-time processing based on the
First in First Out principle.
• Greenpeace International's survey highlights 87% of Indian respondents favoring
production cuts and 89% advocating for targets in the Global Plastics Treaty to shift
from single-use to reusable packaging.
• Astrid Schomaker is appointed as the Executive Secretary of the Convention on Biological
Diversity to advance global efforts in conserving biodiversity, as established during the
1992 Earth Summit and entering into force in 1993.
o The Convention, ratified by 196 nations and operating under the UNEP with its
secretariat in Montreal, Canada, aims to conserve biological diversity, guided by the
Conference of the Parties (COP) which meets biennially.
• Indian government has authorized agencies like Nafed and NCCF to directly procure
wheat from farmers for Bharat Atta.
• NATO, established in 1949 to ensure the freedom and security of its members through
political and military means, celebrates its 75th anniversary with Sweden recently
becoming its 32nd member, headquartered in Brussels, Belgium.
• Established in 1944 with 187 member countries, the World Bank Group aims to provide
financial and technical assistance to developing countries, encompassing five organizations
including IBRD and IDA (collectively known as the World Bank), IFC, MIGA, and ICSID.
• Ministry of Road Transport and Highways exceeded its asset monetisation target for
FY24, raising Rs 40,314 crore through TOT, InvITs, and project-based financing methods.
• Ministry of Corporate Affairs (MCA) appointed M.P. Ram Mohan and Dinabandhu
Mohapatra as part-time members to Insolvency and Bankruptcy Board of India (IBBI)
Governing Board, completing its composition with 10 members including a chairperson,
whole-time and part-time members, an RBI nominee, and ex-officio.
o Established in 2016 under the Insolvency and Bankruptcy Code.

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