01st March, 2024

1. Union Minister Piyush Goyal has launched Bharat Startup Ecosystem Registry and the website and logo of Startup Mahakumbh in New Delhi.
2. Prime Minister Narendra Modi has launched the country’s 1st indigenous green hydrogen fuel cell inland waterway vessel under the Harit Nauka initiative in Thoothukudi, Tamil Nadu.
3. Prime Minister Modi has inaugurated strategic projects in Agalega island, Mauritius, including a 3-km airstrip and a naval jetty.
4. Pension Fund Regulatory and Development Authority (PFRDA) has notified the Retirement Adviser (RA) (Amendment) Regulations, 2023.
5. RBI has announced Financial Literacy Week 2024 to empower young adults to engage in responsible financial behavior and make informed financial decisions.
6. Asian Development Bank (ADB) has priced a $3.5 billion 5-year global bond, the proceeds of which will become part of ADB’s ordinary capital resources.
7. Coal India Limited (CIL) and Bharat Heavy Electricals Limited (BHEL) formally signed a joint venture agreement (JVA) in Delhi for setting up an ammonium nitrate plant through surface coal gasification (SCG) technology route.
8. As per the report on the retail market of India by Boston Consulting Group (BCG) and Retailers Association of India (RAI), the retail market in India is forecasted to grow to $2 trillion within the next decade, up from $820 billion in 2023.
9. Defence Research and Development Organisation (DRDO) has conducted two successful flight tests of Very Short-Range Air Defence System (VSHORADS) missile from a ground based portable launcher off the coast of Odisha.
10. 6 eminent personalities in the field of performing arts have been elected by Sangeet Natak Akademi as Akademi Fellows or Akademi Ratna.
11. Bharti Enterprises founder and chairman, Sunil Bharti Mittal has become the 1st Indian citizen to receive an Honorary Knighthood from the United Kingdom’s King Charles III.
12. Rare Disease Day
13. National Bank for Agriculture and Rural Development (NABARD) and the National Rural Livelihood Mission (NRLM) have entered into a strategic alliance by inking a memorandum of understanding (MoU) to support rural women Self-Help Groups (SHGs).
14. NTPC Green Energy Limited (NGEL) has signed a Joint venture agreement with Maharashtra State Power Generation Company Limited (Mahagenco) to develop renewable energy parks in Maharashtra.
15. Former assistant secretary general of UN Lakshmi Murdeshwar Puri has launched her debut novel “Swallowing the Sun”.

National News

1. Launch of Bharat Startup Ecosystem Registry and the website and logo of Startup Mahakumbh.
   • What ? Union Minister Piyush Goyal has launched Bharat Startup Ecosystem Registry and the website and logo of Startup Mahakumbh in New Delhi.
   • Theme: Bharat Innovates
     • Startup Mahakumbh marks the beginning of an annual event showcasing startup success stories since its inception in 2016.
     • More about Startup Mahakumbh?
       • The inaugural ‘Startup Mahakumbh‘ is set to occur from March 18-20, 2024, at Bharat Mandapam in Pragati Maidan, New Delhi.
       • It aims to strengthen the Indian startup ecosystem, promote global dominance, and encourage entrepreneurship among Indian youth.
       • The event seeks to unite all stakeholders of the startup ecosystem, exhibiting entrepreneurship, technology, and innovation on a single platform.
       • This event will start an annual tradition, consistently showcasing the success and innovation within India’s startup ecosystem, beginning in 2016.
         Source: PIB
2. 1st indigenous green hydrogen fuel cell inland waterway vessel of country.
   • What ? Prime Minister Narendra Modi has launched the country’s 1st indigenous green hydrogen fuel cell inland waterway vessel under the Harit Nauka initiative in Thoothukudi, Tamil Nadu.
   • Key points:
     • The hydrogen-fueled electric vessel project is part of India’s transformative efforts to innovate in green energy and sustainable, cost-effective alternate fuels.
     • Prime Minister Modi has also laid the foundation stone for multiple development projects in Thoothukudi, collectively worth over Rs 17,300 crore.
     • PM has also laid the foundation stone for the Outer Harbour Container Terminal at VO Chidambaranar Port.
     • Furthermore, he dedicated tourist facilities to 75 lighthouses across 10 states and Union Territories.
       Source: ET

International News

1. Prime Minister Narendra Modi jointly inaugurated projects with the PM of Mauritius.
   • What ? Prime Minister Modi has inaugurated strategic projects in Agalega island, Mauritius, including a 3-km airstrip and a naval jetty.
   • Key points:
     • PM Narendra Modi has jointly inaugurated these projects with Prime Minister Pravind Jugnauth of Mauritius.
     • 6 new community development projects were also announced, with a focus on improving the welfare of the residents of Mauritius and strengthening ties between India and Mauritius.
       Source: livemint

Banking and Economy

1. PFRDA notifies amendments to Retirement Adviser (RA) regulations.
   • What ? Pension Fund Regulatory and Development Authority (PFRDA) has notified the Retirement Adviser (RA) (Amendment) Regulations, 2023.
   • Important amendments include:
     • Non-individual applicants regulated by other financial regulators are made eligible
     • Security deposit is not required.
     • Applications are to be disposed of within 30 days

2. RBI announces Financial Literacy Week 2024 (February 26 – March 01, 2024).
   • What ? RBI has announced Financial Literacy Week 2024 to empower young adults to engage in responsible financial behavior and make informed financial decisions.
   • Theme- “Make a Right Start: Become Financially Smart”
   • Duration- February 26 – March 01, 2024
   • Target Audience- Primarily young adults, particularly students
   • Focus Areas-
     • “Saving and Power of Compounding“: Highlighting the benefits of saving early and the power of compounding interest.
     • “Banking Essentials for Students“: Providing essential knowledge about banking services and operations relevant to students.
     • “Digital and Cyber Hygiene“: Promoting awareness about digital financial transactions and cybersecurity measures.
   • RBI announces “Financial Literacy Ideathon”-
     • It is an opportunity for postgraduate students to contribute to innovations in financial literacy.
     • Participants are supposed to suggest innovative ways to empower young minds with vital financial skills and knowledge.
     • Entries can be submitted their ideation papers in Hindi or English from February 26 – March 20, 2024
     • Prizes-
     • 1st prize -₹1 lakh
     • 2nd prize – ₹75,000
     • 3rd prize– ₹50,000
       Source: PIB, RBI

3. Asian Development Bank raises $3.5 billion through a global bond offering.
   • What ? Asian Development Bank (ADB) has priced a $3.5 billion 5-year global bond, the proceeds of which will become part of ADB’s ordinary capital resources.
   • More about bond:
     • Bond is priced at 99.827% to yield 12.7 basis points over the 4.25% United States Treasury notes due February 2029.
     • Coupon rate- 4.375% per annum payable semi-annually
     • Maturity date- 6 March 2029

4. CIL and BHEL sign a JVA for setting up Ammonium Nitrate Plant.
   • What ? Coal India Limited (CIL) and Bharat Heavy Electricals Limited (BHEL) formally signed a joint venture agreement (JVA) in Delhi for setting up an ammonium nitrate plant through surface coal gasification (SCG) technology route.

6. India’s retail market is to touch $2 trillion by 2033 as per BCG & RAI.
   • What ? As per the report on the retail market of India by Boston Consulting Group (BCG) and Retailers Association of India (RAI), the retail market in India is forecasted to grow to $2 trillion within the next decade, up from $820 billion in 2023.
   • Key points:
     • The market is expected to grow at a rate of 9-10% over the next decade.
     • Consumption of goods and services has been on the rise, with categories like food, beverages, housing, and household products showing significant growth.
     • There has been an increase in savings and investments among households, along with growth in health insurance penetration and demat accounts.
       Source: livemint

Defence News

1. DRDO successfully flight tests Very Short Range Air Defence System.
   • What ? Defence Research and Development Organisation (DRDO) has conducted two successful flight tests of Very Short-Range Air Defence System (VSHORADS) missile from a ground based portable launcher off the coast of Odisha.
   • About VSHORADS:
     • It is a Man Portable Air Defence System (MANPAD) designed and developed indigenously by Research Centre Imarat (RCI) in collaboration with other DRDO laboratories and Indian Industry Partners.
       Source: PIB

Awards

1. Sangeet Natak Akademi Honors Six Artists as Fellows and other awards.
   • What ? 6 eminent personalities in the field of performing arts have been elected by Sangeet Natak Akademi as Akademi Fellows or Akademi Ratna.
   • Key points:
     • Fellowship of the Akademi is a most prestigious and rare honour, which is restricted to 40 at any given time.
     • General Council of Sangeet Natak Akademi has also selected 92 artists from different fields including Music, Dance, Theatre, and Puppetry for the Sangeet Natak Akademi Awards for the years 2022 and 2023.
     • General Council of the Akademi has also selected 80 young artists for Sangeet Natak Akademi Ustad Bismillah Khan Yuva Puraskar for the years 2022 and 2023.

2. Britain confers honorary knighthood on Sunil Bharti Mittal.
   • What ? Bharti Enterprises founder and chairman, Sunil Bharti Mittal has become the 1st Indian citizen to receive an Honorary Knighthood from the United Kingdom’s King Charles III.
   • Key points:
     • He has been awarded for his efforts in strengthening business relations between India and the UK.
     • This is one of the highest honors given by the British Sovereign to civilians, especially foreign nationals, for their exceptional achievements and contributions.
       Source: AIR

Important Days

1. February 29– Rare Disease Day; Theme- Share Your Colours
   • What is a Rare Disease?
     • These diseases, often overlooked in mainstream news due to their low prevalence, can be devastating and life-threatening.
     • It was first observed in 2008 by EURORDIS and the Council of National Alliances to raise awareness about rare diseases.
     • It falls on the last day of February, but in leap years like 2024, it is observed on February 29th.
       Source: ET

Memorandum of Understanding

1. NABARD and NRLM enter into strategic alliance to support women self-help groups.
   • What ? National Bank for Agriculture and Rural Development (NABARD) and the National Rural Livelihood Mission (NRLM) have entered into a strategic alliance by inking a memorandum of understanding (MoU) to support rural women Self-Help Groups (SHGs).
   • More about MoU:
     • MoU is effective for 3 years.
       Source: HBL
     
     
     
     

2. NGEL collaborates with Mahagenco to develop renewable energy parks in Maharashtra.
   • What ? NTPC Green Energy Limited (NGEL) has signed a Joint venture agreement with Maharashtra State Power Generation Company Limited (Mahagenco) to develop renewable energy parks in Maharashtra.
     Source: PL

Miscellaneous

1. Launch of the novel “Swallowing the Sun”.
   • What ? Former assistant secretary general of UN Lakshmi Murdeshwar Puri has launched her debut novel “Swallowing the Sun”.
     Source: PTI

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