26th March, 2024

1. Ministry of Electronics and Information Technology (MeitY) has notified the Fact Check Unit (FCU) under the Press Information Bureau (PIB) as a statutory body.
2. PM Narendra Modi has visited Bhutan from 22nd to 23rd March 2024.
3. Dr. Neeraj Mittal, Secretary of the Department of Telecommunications has been unanimously elected as Co-Chairman of the Digital Innovation Board of the International Telecommunication Union (ITU).
4. United Nations General Assembly (UNGA) has unanimously adopted the 1st global resolution on Artificial Intelligence (AI).
5. Federal Bank and NPCI have jointly launched FlashPay, a Rupay Smart Key Chain, facilitating Contactless National Common Mobility Card (NCMC) payments at metro stations and POS terminals.
6. The United Nations has released the Global E-waste Monitor (GEM) 2024.
7. UBS Securities India Private Limited has predicted that Gross Domestic Product (GDP) growth of India will slow down from the projected 7.6% in fiscal year 2023-24 (FY24) to 7% in fiscal year 2024-25 (FY25).
8. The Norwegian Academy of Science and Letters has announced French mathematician, Michel Pierre Talagrand as the winner of the 2024 Abel Prize in Oslo, Norway.
9. IndiGo has been named the “Airline of the Year” at the 2024 Air Transport Awards held in Ekali, Greece.
10. World Water Day 2024
11. World Meteorological Day
12. Shaheed Diwas or Martyrs’ Day 2024
13. Sathiyan Gnanasekaran from Tamil Nadu won the men’s singles title at the World Table Tennis (WTT) Feeder Beirut 2024 event at the Al Kawthar Secondary School in Beirut, Lebanon.
14. Financial Services Institutions Bureau (FSIB) has selected Girija Subramanian as the next Chairperson and Managing Director (CMD) of New India Assurance Company (NIAC).

National News

1. MeitY has notified PIB’s Fact Check Unit as an authorized body for the Centre under IT Rules
   2021.
   • What ? Ministry of Electronics and Information Technology (MeitY) has notified the Fact Check Unit (FCU) under the Press Information Bureau (PIB) as a statutory body.
   • Key points:
     • The Fact Check Unit (FCU), under the Press Information Bureau (PIB) of the Ministry of Information and Broadcasting (MIB), has been designated as the Government of India’s FCU.
     • This unit is empowered to flag misinformation about the Central government and its departments across various social media platforms.
     • Its primary goal is to counter misinformation regarding government policies, initiatives, and schemes.
     • The FCU categorizes the information it receives into three groups: Fake, Misleading, and True.
     • For better accessibility for persons with disabilities (PWDs), it provides alternative text (ALT) alongside social media posts.
     • Recent amendments:
       • In April 2023, the Ministry of Electronics and Information Technology (MeitY) amended the IT Rules 2021 to include provisions for a government-run FCU to verify any information about the Central government.
       • These amendments included a provision for a government FCU to identify “fake, false, or misleading” online content related to the “business” of the Central government.
         Source: PIB
2. Prime Minister Narendra Modi’s 2-day state visit to Bhutan.
   • What ? PM Narendra Modi has visited Bhutan from 22nd to 23rd March 2024.
   • Key events:
     • King of Bhutan, Jigme Khesar Namgyel Wangchuck has honoured PM Modi with the Order of the Druk Gyalpo, Bhutan’s highest civilian decoration.
     • PM Modi became the first foreign head of government to receive this award.
   • Memorandum of Understandings (MoUs)/Agreements:
     • Several MoUs/agreements were exchanged between India and Bhutan in various fields including energy, trade, digital connectivity, space, and agriculture.
     • The exchange occurred in the presence of PM Modi and Tshering Tobgay, Prime Minister of Bhutan.

   • Inauguration:
     • PM Modi and Tshering Tobgay inaugurated the Gyaltsuen Jetsun Pema Wangchuck Mother and Child Hospital in Thimphu, Bhutan.
       Source: mea
     
     
3. Dr Neeraj Mittal has been elected as the Co-Chairman of the Digital Innovation Board of the ITU.
   • What ? Dr. Neeraj Mittal, Secretary of the Department of Telecommunications has been unanimously elected as Co-Chairman of the Digital Innovation Board of the International Telecommunication Union (ITU).
   • Key points:
     • The board functions under the Innovation and Entrepreneurship Alliance for Digital Development.
     • The Digital Innovation Board is made up of Ministers and Vice Ministers of Telecom/ICT from 23 ITU Member Countries.
     • The co-chairs include Dr. Cosmas Luckyson Zavazava, Director of the Telecommunication Development Bureau (BDT) at ITU, and Dr. ‘Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy for the Federal Republic of Nigeria.
   • Purpose of the board:
     • The board provides strategic guidance, expertise, and advocacy for fostering innovation and entrepreneurship in digital development.
     • It aims to build critical local enablers and create a more inclusive and equitable digital future for all.

Source: PIB

International News

1. United Nations adopts 1st Global Resolution on Artificial Intelligence.
   • What ? United Nations General Assembly (UNGA) has unanimously adopted the 1st global resolution on Artificial Intelligence (AI).
   • Objective:
     • To utilize Artificial Intelligence to achieve the UN Sustainable Development Goals (SDGs) by 2030.
   • Key points:
     • The resolution encourages nations to safeguard human rights, protect personal data, and monitor AI for risks.
     • It was proposed by the United States of America (USA) and co-sponsored by 123 countries.
     • It aims to bridge the digital divide between developed and developing countries by providing access to technology and capabilities, enabling benefits like disease detection, flood prediction, and workforce training.
     • It ensures developing countries have access to AI technology to harness its benefits for societal progress and development.

Sources: ET

Banking and Economy

1. Federal Bank Partners with NPCI to Introduce ‘Rupay Smart Key Chain -FlashPay’.
   • What ? Federal Bank and NPCI have jointly launched FlashPay, a Rupay Smart Key Chain, facilitating Contactless National Common Mobility Card (NCMC) payments at metro stations and POS terminals.
   • Key features of FlashPay:
     • FlashPay permits payments up to Rs. 5000 without a PIN and necessitates PIN authentication for transactions above Rs. 5000.
     • The daily limit stands at Rs. 1,00,000 at any POS terminal.
     • Functioning similarly to the ‘Tap and Pay‘ feature, FlashPay is linked to your bank account and enables contactless transactions.
     • In addition to its compact design, FlashPay enhances user convenience by facilitating seamless transactions.
     • It provides secure payments with just a tap, thereby eliminating the need for physical cards or cash.
     • Due to the limited range of contactless machines and cards, FlashPay needs to be within 3-4 cm of the POS terminal for successful transactions.

Source: HBL

Reports and Indices

1. UN’s Global E-waste Monitor (GEM) 2024 report.
   • What? The United Nations has released the Global E-waste Monitor (GEM) 2024.
   • Key Findings:
     • The report shows that the global generation of electronic waste (e-waste) is increasing five times faster than the documented e-waste recycling rate.
     • In 2022, the world has produced 62 million tonnes (Mt) of e-waste, an increase of 82% from 2010.
     • Only 22.3% of e-waste was properly documented, collected, and recycled in 2022.
     • The remaining e-waste results in unrecovered natural resources worth USD 62 billion and increases pollution risks worldwide.
     • By 2030, e-waste generation is projected to reach 82 Mt, with the recycling rate expected to decrease to 20%.
   • Recommendations:
     • Raising e-waste collection and recycling rates to 60% by 2030 could provide benefits exceeding costs by over USD 38 billion.
     • There is an urgent need for sustainable practices in technology production and disposal to address reliance on a few countries for rare earth elements and the wastage of valuable resources.
   • More About the Report:
     • This is the 4th edition of the Global E-Waste Monitor, which has served as a crucial tool for understanding and addressing the e-waste challenge since 2014.
     • The report, funded and prepared in partnership with UNITAR-SCYCLE, ITU, and the Fondation Carmignac, provides essential insights for policymakers and the industry.
   • Pictorial representation of the report:

• E-waste generated and collected on per capita basis:

Source: unitar.org

GDP Forecasts

1. GDP forecast by UBS Securities India Private Limited.
   • What ? UBS Securities India Private Limited has predicted that Gross Domestic Product (GDP) growth of India will slow down from the projected 7.6% in fiscal year 2023-24 (FY24) to 7% in fiscal year 2024-25 (FY25).
   • Key points:
     • The Current Account Deficit is expected to narrow to less than 0.8% of GDP in FY24.
     • In FY25, it is expected to increase to 1.3% of GDP, due to slowing global growth and strong domestic demand.
     • The Indian equity market is projected to remain volatile in the near term, due to elevated geopolitical and economic risks.
     • The Nifty index is estimated to rise by 12% and reach 25,200 by March 2025.
       Source: HBL

Awards

1. Michel Talagrand Honoured with the 2024 Abel Prize.
   • What ? The Norwegian Academy of Science and Letters has announced French mathematician, Michel Pierre Talagrand as the winner of the 2024 Abel Prize in Oslo, Norway.
   • Key points:
     • He has been recognized for his substantial contributions to probability theory, especially his insights into random phenomena like Gaussian processes.
     • He is known for his profound insights and advancements in the field of probability theory.
     • He is the 27th recipient overall and 5th French mathematician to receive the Abel Prize.
   • About Abel Prize:
     • It was established in 2002 by the Norwegian Parliament (The Storting) in honor of the Norwegian mathematician Niels Henrik Abel.
     • The award carries a cash prize of 7.5 million Norwegian Krone (equivalent to approximately USD 710,000).
     • Awarded by: Norwegian Academy of Science and Letters, on behalf of the Ministry of Education.
       Source: abelprize.co
2. “Airline of the Year” at the 2024 Air Transport Awards.
   • What ? IndiGo has been named the “Airline of the Year” at the 2024 Air Transport Awards held in Ekali, Greece.
   • Key points:
     • IndiGo reached notable milestones, including being the first Indian airline to transport 100 million passengers in a single calendar year (2023), and the first to operate 2,000 flights in one day.
     • The 2024 Air Transport Awards, held in partnership with Hermes – Air Transport Organization and Air Transport News (ATN), recognized significant contributions to the aviation industry.
       Source: tdn

Important Days

1. March 22: World Water Day 2024; Theme: Water for prosperity and peace
   Source: UN
2. March 22: World Meteorological Day; Theme: At the Frontline of Climate Action
   Source: wmo
3. March 23: Shaheed Diwas or Martyrs’ Day 2024
   • Every year on 23rd March, India observes the death anniversary of Bhagat Singh, Shivaram Rajguru, and Sukhdev Thapar.
   • These three revolutionaries were executed by the British government.
     Source: HT

Sports

1. World Table Tennis (WTT) Feeder Beirut 2024.
   • What ? Sathiyan Gnanasekaran from Tamil Nadu won the men’s singles title at the World Table Tennis (WTT) Feeder Beirut 2024 event at the Al Kawthar Secondary School in Beirut, Lebanon.
   • Total Prize Money: USD 22,500
   • Table for winners in different category:

Source: olympics.com

Appointments

1. FSIB has selected Girija Subramanian as the CMD of NIAC and Bhupesh Sushil Rahul as the CMD of UIIC.
   • What ? Financial Services Institutions Bureau (FSIB) has selected Girija Subramanian as the next Chairperson and Managing Director (CMD) of New India Assurance Company (NIAC).
   • Also, Bhupesh Sushil Rahul has been appointed as CMD of United India Insurance Company (UIIC).
     Source: BS

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