05th March, 2024

1. Union Cabinet has approved the establishment of three semiconductor units under Development of Semiconductors and Display Manufacturing Ecosystems in India.
2. Union Cabinet has approved the ‘PM-Surya Ghar: Muft Bijli Yojana’ scheme to install rooftop solar and provide free electricity to one crore households.
3. Union Cabinet has approved the proposal of the Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for KHARIF Season, 2024 (from April 1,2024 to September 30, 2024).
4. Union Cabinet has approved the establishment of International Big Cat Alliance (IBCA).
5. Union Minister for MSME Narayan Rane has launched 3 new initiatives for women entrepreneurs at 9th Annual Shakti International Women Entrepreneurs Summit held in New Delhi.
6. Union Minister Pralhad Joshi has launched the “Coal Logistics Plan and Policy” at Vigyan Bhawan, New Delhi.
7. Government-owned REC Ltd has successfully listed 2 bonds worth Rs 5,375 crore on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
8. Centre for Development of Telematics (C-DOT) has partnered with Qualcomm to provide wireless Integrated Circuit (IC) designers.
9. US Consulate, in collaboration with the Mahratta Chamber of Commerce, Industries, and Agriculture (MCCIA), has launched the inaugural US-India Cyber Security Initiative.
10. Prime Minister Narendra Modi and Mauritian Prime Minister Pravind Jugnauth have inaugurated a new airstrip and jetty on the Mauritian archipelago of Agaléga.
11. Indian Navy and Malaysian Navy have participated in the 3rd edition of the bilateral exercise Samudra Laksamana in Visakhapatnam.
12. Romain Rolland Book Prize 2024 has been awarded to the Bengali translation of “Staliner Divan” by Pankaj Kumar Chatterjee.
13. Panjab University has topped the KIUG 2023 medals tally with 26 gold, 17 silver, and 26 bronze medals.
14. World Wildlife Day
15. World Hearing Day
16. National Security Day

National News

1. Cabinet approves three more semiconductor units.
   • What ? Union Cabinet has approved the establishment of three semiconductor units under Development of Semiconductors and Display Manufacturing Ecosystems in India.
   • Key points:
     • All three units will start construction within next 100 days
     • Approved three semiconductor units are:
       • Semiconductor Fab with 50,000 wfsm capacity:
         • Tata Electronics Private Limited (“TEPL”) will set up a semiconductor fab in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC), Taiwan.
         • Capacity: 50,000 wafer starts per month (WSPM)
       • Semiconductor ATMP unit in Assam:
         • Tata Semiconductor Assembly and Test Pvt Ltd (“TSAT”) will set up a semiconductor unit in Morigaon, Assam.
         • It will be 1st semiconductor Unit in Northeast.
       • Semiconductor ATMP unit for specialized chips:
         • CG Power, in partnership with Renesas Electronics Corporation, Japan and Stars Microelectronics, Thailand will set up a semiconductor unit in Sanand, Gujarat.
           Source: PIB
2. Union Cabinet has approved ‘PM-Surya Ghar: Muft Bijli Yojana’.
   • What ? Union Cabinet has approved the ‘PM-Surya Ghar: Muft Bijli Yojana’ scheme to install rooftop solar and provide free electricity to one crore households.
   • Key points:
     • Total outlay for the scheme is Rs 75,021 crore.
     • Launch date: February 13, 2024
     • Subsidy amount:
       • 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.
         Source: ET

3. Nutrient Based Subsidy (NBS) rates for KHARIF Season.
   • What ? Union Cabinet has approved the proposal of the Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for KHARIF Season, 2024 (from April 1,2024 to September 30, 2024).
   • Key points:
     • Nutrient Based Subsidy is applicable on Phosphatic and Potassic (P&K) fertilizers and inclusion of 3 new fertilizer grades under NBS scheme.
     • Tentative budgetary requirement for Kharif season 2024 would be approximately Rs.24,420 crore.
       Source: PIB

4. Establishment of International Big Cat Alliance (IBCA).
   • What ? Union Cabinet has approved the establishment of International Big Cat Alliance (IBCA).
   • Key points:
     • Headquarters of IBCA will be established in India.
     • India will provide a one-time budgetary support of Rs.150 crore for a period of 5 years from 2023-24 to 2027-28.
   • About IBCA:
     • IBCA brings together countries, organizations, and businesses to work together to save big cats.
     • It helps share successful conservation methods and provides financial support to protect big cat populations.
     • IBCA aims to strengthen existing conservation efforts and work together to make a bigger impact in protecting big cats.
     • IBCA connects biodiversity conservation efforts with sustainable development goals, like fighting climate change and reducing poverty, to ensure a better future for both people and big cats.
       Source: PIB

5. 3 new projects have started to help more women start their own businesses.
   • What ? Union Minister for MSME Narayan Rane has launched 3 new initiatives for women entrepreneurs at 9th Annual Shakti International Women Entrepreneurs Summit held in New Delhi.
   • Details of new initiatives:
     • Panjikaran Se Pragati:
       • It is a joint integrated national campaign by the Ministry of MSME and the Women Entrepreneurship Platform (WEP).
       • It is aimed at encouraging women entrepreneurs to get Udyam registered and unlock opportunities.
     • WEP Unnati – Udyamita se Pragati tak:
       • It is a joint program of the Ministry of MSME and the Women’s Entrepreneurship Platform (WEP).
       • It is designed to provide comprehensive capacity-building support to women MSMEs through an Award-to-Reward (ATR) program.
     • Mentorship Platform:
       • Women Entrepreneurship Platform (WEP) launched a mentorship platform to provide guidance and support to women entrepreneurs in their business endeavors.
         Source: PIB

6. Launch of the “Coal Logistics Plan and Policy”
   • What ? Union Minister Pralhad Joshi has launched the “Coal Logistics Plan and Policy” at Vigyan Bhawan, New Delhi.
   • Objective:
     • To modernize coal transportation, enhance efficiency, and promote sustainability.
   • Key points:
     • It proposes a strategic shift towards a railway-based system for First-Mile Connectivity (FMC) projects.
     • It aims for a 14% reduction in rail logistic costs, translating into an annual cost saving of Rs 21,000 Crore.
     • Its benefits include reduced air pollution, alleviation of traffic congestion, and a decrease in carbon emissions by approximately 100,000 tonnes per year.
     • A 10% reduction in the average turnaround time of wagons nationwide is expected.
     • Stress the integration of Rail-Sea-Rail (RSR) transportation, with expansion plans targeting 120 BT by FY 2030.
       Source: PIB

Banking and Economy

1. REC lists two bonds worth Rs 5,375 crore on stock exchanges.
   • What ? Government-owned REC Ltd has successfully listed 2 bonds worth Rs 5,375 crore on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
   • Key points:
     

     • First bond:
     • Value: ₹2,500 crore
     • Maturity: 10 years
     • Yield: 7.47%
     • Redemption date: February 28, 2034
     • Second bond:
       • Value: ₹2,875 crore
       • Maturity: 3 years and 2 months
       • Yield: 7.64%
       • Redemption date: April 30, 2027
         Source: ET

     
     
   
   
   
   
2. Partnership between Centre for Development of Telematics (C-DOT) and Qualcomm.
   • What ? Centre for Development of Telematics (C-DOT) has partnered with Qualcomm to provide wireless Integrated Circuit (IC) designers.
   • Objective:
     • To stimulate innovation and accelerate the commercialization process in the wireless technology sector.
   • Key points:
     • This agreement highlights Qualcomm’s commitment to invest in India’s technology sector and to strengthen its wireless ecosystem.
     • Qualcomm Technologies will provide C-DOT with expertise and best practices.
     • The collaboration was announced at the recently concluded Mobile World Congress 2024 in Barcelona, Spain.
   • About Mobile World Congress 2024 in Barcelona, Spain:
     • It is the largest and most influential event for the connectivity ecosystem.
     • It is organised from 26-29 February, 2024.
       Source: ET

International News

1. First Ever US-India Cyber Security Initiative Launched To Secure IT Connections.
   • What ? US Consulate, in collaboration with the Mahratta Chamber of Commerce, Industries, and Agriculture (MCCIA), has launched the inaugural US-India Cyber Security Initiative.
   • Objective:
     • To strengthen IT connections between the two nations, fostering a stronger foundation for cybersecurity collaboration and cooperation.

   • Key points:
     • It will bring together leading cybersecurity experts from around the world to generate employment opportunities and advance state-of-the-art solutions.
     • This will transform the city into a mentorship model within the realm of cyberspace, promoting the growth of expertise and enhancing interpersonal connections in this domain.
       Source: NT

   
   
2. Inauguration of a new airstrip and jetty on the Mauritian archipelago of Agaléga.
   • What ? Prime Minister Narendra Modi and Mauritian Prime Minister Pravind Jugnauth have inaugurated a new airstrip and jetty on the Mauritian archipelago of Agaléga.
   • Objective:
     • To deepen economic and security cooperation with maritime partners
   • Key points:
     • It is part of India’s Security and Growth for All (Sagar) policy initiated by the Prime Minister Narendra Modi administration.
     • It will improve the maritime security capabilities of partner countries.
   • About SAGAR:
     • It refers to India’s policy or doctrine of maritime cooperation within the Indian Ocean region.
     • Launch date: March 12, 2015
     • Objective:
       • To deepen economic and security cooperation with its maritime neighbours and assist in building their maritime security capabilities.
         Source: BS

   
   

Defence News

1. India – Malaysia bilateral maritime exercise Samudra Laksamana.
   • What ? Indian Navy and Malaysian Navy have participated in the 3rd edition of the bilateral exercise Samudra Laksamana in Visakhapatnam.
   • Objective:
     • To strengthen bonds and enhance interoperability between the Indian and Royal Malaysian Navy
       Source: PIB

Awards

1. Romain Rolland Book Prize 2024.
   • What ? Romain Rolland Book Prize 2024 has been awarded to the Bengali translation of “Staliner Divan” by Pankaj Kumar Chatterjee.
   • Key points:
     • Rolland Book Prize recognizes exceptional literary works that promote cultural exchange and understanding between different languages and regions.
     • The novel explores the meeting between Josef Stalin, the Soviet leader, and a young artist in the Soviet Union.
       Source: TOI

Sports

1. Khelo India University Games 2023 (KIUG 23) medals tally.
   • What ? Panjab University has topped the KIUG 2023 medals tally with 26 gold, 17 silver, and 26 bronze medals.
   • Key points:
     • Four cities in Uttar Pradesh – Lucknow, Varanasi, Greater Noida, and Gorakhpur – were the main hosts for the KIUG 2023 events.
     • KIUG 2023 was the 3rd edition of this inter-university meet.
     • Rowing has made its KIUG debut this year.
   • Medal Tally:

Source: olympics.com

Important Days

1. March 3– World Wildlife Day; Theme– Connecting People and Planet: Exploring Digital Innovation in Wildlife Conservation
   Source: undp
2. March 3- World Hearing Day; Theme- Changing mindsets: Let’s make ear and hearing care a reality for all
   Source: BS
3. March 4– National Security Day

Start Quiz of 05th March 2024 on Mobile

Start Quiz of 05th March 2024 on Desktop