24th-25th March, 2024

1. Ministry of Electronics and Information Technology (MeitY) and National Internet Exchange of India (NIXI) have announced the launch of the BhashaNet portal at the Universal Acceptance Day event.
2. Indian Government has launched ‘Operation Indravati‘ to evacuate stranded Indians in Haiti after armed gangs seized control of most of the Caribbean nation.
3. Rajasthan has become the 1st Indian state to launch the State Water Resources Information Systems dashboard on 16th March 2024.
4. A joint venture company has been formed by the JSW Group and MG Motor India Private Limited, a subsidiary of SAIC Motor, to enter the electric vehicles segment.
5. Indian Overseas Bank has unveiled two jewel loan products – Gold Powered Card and Jewel Loan Suvidha.
6. S&P Global Ratings has raised India’s growth forecast for the next financial year to 6.8% due to strong domestic momentum.
7. ISRO has launched “Pushpak” – Reusable Launch Vehicle Autonomous Landing Mission (RLV-LEX-02).
8. 2nd edition of India Mozambique Tanzania (IMT) Tri-Lateral (TRILAT) Exercise (IMT-
   TRILAT 2024) has commenced on 21st March 2024.
9. Indian Army has deployed initial batch of 7 new indigenous Integrated Drone Detection and Interdiction Systems (IDD&IS) along the northern borders with China.
10. Indian Olympic Association (IOA) has named table tennis player Achanta Sharath Kamal as India’s flagbearer for the 2024 Paris Olympics.
11. International Day of Forests 2024
12. International Day of Nowruz 2024
13. World Puppetry Day
14. Naveen Jindal, chairman of Jindal Steel and Power has took charge as president of Indian Steel Association (ISA).

National News

1. BhashaNet portal unveiled at Universal Acceptance Day event.
   • What ? Ministry of Electronics and Information Technology (MeitY) and National Internet Exchange of India (NIXI) have announced the launch of the BhashaNet portal at the Universal Acceptance Day event.
   • More about BhashaNet portal:
     • BhashaNet aims to create a multilingual internet where local language website names
       and email IDs work seamlessly everywhere.
     • Theme of the event: BhashaNet: Impetus Towards Universal Acceptance

   • About Regional Universal Acceptance Day Event:
     • The Regional Universal Acceptance Day Event was organized by MeitY and NIXI, with support from the Internet Corporation for Assigned Names and Numbers (ICANN).
     • This event aimed to promote universal acceptance and advance digital inclusion across India.
     • The Global Universal Acceptance Day is scheduled for 28th March 2024 and will be held in Belgrade, Serbia.
   • About Universal Acceptance Day event:
     • It is s annually celebrated to create awareness about the importance of ensuring that all domain names and email addresses can be used by all internet users.
     • Organized by: Community-led Universal Acceptance Steering Group (UASG) and ICANN.
     • 1st-ever Universal Acceptance Day was held on 28th March 2023.

2. India launched ‘Operation Indravati’ to Evacuate Stranded Indians in Haiti.
   • What ? Indian Government has launched ‘Operation Indravati‘ to evacuate stranded Indians in Haiti after armed gangs seized control of most of the Caribbean nation.
   • More about Operation Indravati:
     • It is launched to swiftly evacuate Indians to Dominican Republic, and 12 Indians have been successfully evacuated to Dominican Republic.

   • About Haiti:
     • Haiti is located on the Western one third of the Hispaniola island in Caribbean Sea.
       Source: DC

State News

1. Rajasthan Becomes 1st State to Launch Water Resource Dashboard.
   • What ? Rajasthan has become the 1st Indian state to launch the State Water Resources Information Systems dashboard on 16th March 2024.
   • Developed by:
     • Portal has been developed by the Department of Water Resources under the National Hydrology Project.
   • Features of Portal:
     • It provides real-time information about water availability, assisting farmers in planning crop cycles and irrigation.
     • It contains data on 805 dams, including daily data for 242 dams and live data for 88 dams.
     • It includes a rainfall module that offers analyzed data from 326 rain gauge stations since 1957.
     • It features a canal module that displays information about the canal network, mapped on a Geographic Information System (GIS).
     • It offers live data for the Ganga and Bhakra canal systems, as well as for the Bisalpur, Jawai, and Gudha Jawahar Sagar dams through SCADA.
     • It presents pre and post-monsoon data from 9022 piezometers, dug wells, and observation wells from 2011 in the groundwater module.
     • It provides real-time data on rainfall, waterlogging, temperature, etc., updated hourly in the Real-Time Data Ambition System (RTDAS).

Source: The Hindu

Banking and Economy

1. The joint venture ‘JSW MG Motor India Pvt Ltd’ has been launched.
   • What ? A joint venture company has been formed by the JSW Group and MG Motor India Private Limited, a subsidiary of SAIC Motor, to enter the electric vehicles segment.
   • Key Points:
     • A total investment of USD 750 million (approximately Rs 5,000 crore) is proposed for achieving an annual production capacity of 300,000 units.
     • Through this partnership, MG Motor plans to triple its annual production capacity at its Halol, Gujarat plant from 100,000 to 300,000 units.
     • JSW will own a 35% stake in the joint venture.
     • Everstone, together with some dealers and employees, will collectively hold approximately 16%.
     • This results in Indian investors owning a total stake of 51%.
       Source: BS

   
   
2. Indian Overseas Bank (IOB) has launched 2 new jewel loan products.
   • What ? Indian Overseas Bank has unveiled two jewel loan products – Gold Powered Card and Jewel Loan Suvidha.
   • About Gold Powered Card:
     • It offers loans ranging from ₹25,000 to ₹25 lakh and interest is charged solely on the amount utilized.
     • It provides the convenience of cash withdrawal at ATMs and can be used for POS and e-commerce transactions.
     • The cash withdrawal limit per transaction is ₹20,000, with a daily limit of ₹1 lakh.
     • For e-commerce and POS transactions, the per day and per transaction limit is ₹25 lakh.

   • Jewel Loan Suvidha:
     • This product caters to the unique needs of housing loan borrowers, not only from Indian Overseas Bank but also from other banking institutions.
     • It addresses critical financial requirements such as margin money, registration charges, and unforeseen project escalation costs within a 12-month timeframe from the date of incurring expenses.
     • The loan amount ranges from ₹25,000 to ₹50 lakh.

Source: The Hindu

GDP Forecasts

1. S&P ups India growth forecast to 6.8% for FY’25.
   • What ? S&P Global Ratings has raised India’s growth forecast for the next financial year to 6.8% due to strong domestic momentum.
   • Key Forecast:
     • S&P predicts India’s growth to be 6.4% in the 2024-25 fiscal year.
     • S&P anticipates the real GDP growth of India to decrease to 6.8% in the 2025 fiscal year.
   • Factors Impacting Growth:
     • The effect of higher interest rates and inflation has lessened household spending power, resulting in decreased sequential GDP growth in the second half of the fiscal year.
     • Restrictive interest rates and regulatory actions to control unsecured lending are expected to suppress demand.
     • A lower fiscal deficit is predicted to slow down growth.
       Source: The Hindu

Science and Tech

1. “Pushpak” – Reusable Launch Vehicle Autonomous Landing Mission (RLV-LEX-02) of ISRO.
   • What ? ISRO has launched “Pushpak” – Reusable Launch Vehicle Autonomous Landing Mission (RLV-LEX-02).
   • Key points:
     • This landing marks the 2nd of the series of experiments conducted by ISRO at ATR, with the first mission RLV-LEX-01 conducted in 2023.
     • The mission successfully simulated the approach and high-speed landing conditions of RLV returning from space.
     • ISRO revalidated indigenously developed technologies in navigation, control systems, landing gear, and deceleration systems.
     • The mission was accomplished by the Vikram Sarabhai Space Centre (VSSC) in Thiruvananthapuram, Kerala, in collaboration with the Liquid Propulsion System Centre (LPSC) and the ISRO Inertial Systems Unit (IISU).
   • About Pushpak:
     • Pushpak RLV is designed as an all-rocket and fully reusable single-stage-to-orbit (SSTO) vehicle.
     • It incorporates elements from various advanced technology demonstrators such as the X-34 testbed and the X-33 advanced technology demonstrator.
       Source: HBL

Defence News

1. 2nd edition of India Mozambique Tanzania (IMT) Tri-Lateral (TRILAT) Exercise (IMT-
   TRILAT 2024) has commenced on 21st March 2024.

   • Objective:
     • To strengthen cooperation between India, Mozambique, and Tanzania.
   • Key points:
     • It is a joint maritime exercise between the navies of India, Mozambique and Tanzania.
     • The exercise is set to conclude on 29th March 2024.
     • 1st edition of the IMT TRILAT exercise was held in October 2022 at Dar Es Salaam, Tanzania.
     • During the exercise, Training visits for sea trainees of 106 Integrated Officers Training Course
       (IOTC) will be conducted at the respective ports.
     • About IMR TRILAT 2024:
       • The exercise is scheduled to be held in two phases, the Harbour Phase (21st to 24th March 2024) and the Sea Phase (24th to 27th March 2024).
       • As a part of the exercise, the Indian Naval Ship (INS) Tir and INS Sujata will engage
         with the respective Navies at the ports of Zanzibar in Tanzania and Maputo in Mozambique.
       • The exercise will conclude with a joint debrief scheduled at Nacala, Mozambique.
         Source: PIB
2. Indian Army Inducts IDD&IS System along Northern Borders with China.
   • What ? Indian Army has deployed initial batch of 7 new indigenous Integrated Drone Detection and Interdiction Systems (IDD&IS) along the northern borders with China.
   • Key points:
     • Developed by: Defence Research and Development Organisation (DRDO) and Bharat Electronics Limited (BEL).
     • Range: 2 to 5 kilometers.
     • It has been Inducted by the Army Air Defence (AAD).
     • This device can jam signals from hostile drones using jamming technology, disrupting their operation.
     • It is equipped with lasers for physically destroying drones within an effective range of over 800 meters.
       Source: ET

   
   
   
   

Sports

1. Flagbearer of India for the 2024 Paris Olympics.
   • What ? Indian Olympic Association (IOA) has named table tennis player Achanta Sharath Kamal as India’s flagbearer for the 2024 Paris Olympics.
   • Key points:
     • Sharath Kamal will become the 19th flag bearer for India at the Olympics.
     • Paris Olympics is scheduled to be held from 26th July to 11th August 2024.
   • Chef de Mission:
     • Boxer MC Mary Kom has been appointed as the chef de mission of the Indian Olympic contingent.
   • Deputy Chef de Mission:
     • Luge player Shiva Keshavan was appointed as the deputy chef de mission for the Indian Olympic contingent.
       Source: olympics

Important Days

1. March 21– International Day of Forests 2024; Theme- Forests and innovation: new solutions for a better world
2. March 21- International Day of Nowruz 2024
   • United Nations has recognized March 21 as the International Day of Nowruz, emphasizing its global observance and cultural significance.
   • Nowruz is the Iranian or Persian New Year celebrated by various ethnic groups worldwide.
     Source: livemint

   
   
   
   
3. March 21– World Puppetry Day; Theme-The Climate
   • It is observed annually to recognize puppetry as a global art.
     Source: unima

Appointments

1. Naveen Jindal was Elected as President of Indian Steel Association.
   • What ? Naveen Jindal, chairman of Jindal Steel and Power has took charge as president of Indian Steel Association (ISA).
   • About Indian Steel Association (ISA):
     • It is the apex body of the domestic steel industry and works collectively to highlight the
       issues of the sector.
     • It represents all the major Public Sector and Private Sector Steel Enterprises of India.
     • Headquarter: New Delhi
     • Established in: 2014
       Source: BS

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