Current Affairs: 30th March 2024
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Want to stay on top of the latest happenings around the world? Look no further! This blog dives deep into the most pressing current affairs for March 30th, 2024. We’ll break down the need-to-know news, from international developments to domestic headlines.
Whether you’re prepping for an exam, keeping up with conversations, or simply curious about the world, this comprehensive overview is your one-stop shop for current affairs on March 30th, 2024. So, buckle up and get ready to explore the day’s most significant events!
NATIONAL AFFAIRS (current affairs 30th march 2024)
1) India TB Report 2024: 16% decline in new TB cases, 18% reduction in mortality in India
The Ministry of Health and Family Welfare (MoHFW) released the “India TB Report 2024” on March 27, 2024. It states that since 2015, India has experienced a 16% decrease in the incidence of tuberculosis (TB) cases (i.e., new cases per year) and an 18% decrease in TB-related mortality.
Key Findings of the report:
- From 237 per lakh people in 2015 to 199 per lakh people in 2022, India’s incidence rate dropped.
- From 28 per lakh people in 2015 to 23 per lakh people in 2022, the mortality rate decreased.
- In 2023, 25.5 lakh cases were recorded, the most since the 1960s.
About the Ministry of Health and Family Welfare(MoHFW):
- Union Minister– Mansukh L. Mandaviya(Rajya Sabha: Gujarat)
- Minister of State(MoS)– Bharati Pravin Pawar(Constituency: Dindori, Maharashtra) , Satya
- Pal Singh Baghel(Constituency: Agra, Uttar Pradesh)
Click here to read from the source
2) India adds 24 GW of solar PV manufacturing capacity in 2023
India added 24 Giga Watt (GW) of solar module and cell capacity in Calendar Year (CY) 2023, according to a Mercom India report titled “State of Solar PV Manufacturing in India 2024.”
With an additional 20.8 GW, India’s total solar module capacity as of December 2023 was 64.5 GW. Furthermore, a 3.2 GW increase in solar cell capacity brought it to 5.8 GW.
By 2026, it is anticipated that India will have the capacity to produce more than 150 GW of solar modules and more than 75 GW of solar cells.
Toppers:
- In December 2023, Gujarat held the top spot in India for photovoltaic (PV) module manufacturing capacity, accounting for 46.1% of the country’s total capacity.
- Tamil Nadu and Rajasthan came next, coming in third and second place, respectively, with respective production capacities of 7.6% and 9.3% for solar modules.
- With a 39% national share, Telangana had the largest yearly capacity for producing solar cells.
In terms of solar cell production, Gujarat and Himachal Pradesh (HP) came in second and third, respectively, accounting for 34.7% and 13.9% of the nation’s total capacities.
Key Points
- The primary drivers of additional manufacturing capacity in 2023 were the expected return of the Approved List of Models and Manufacturers (ALMM) order in April 2024, as well as possible export opportunities.
- By December 2023, the top 10 manufacturers would have produced 100% of the cells and 62% of the modules.
- Solar modules with M10 and G12 wafer sizes could be produced using about 60% of the module manufacturing capacity.
- In 2023, domestic exports of solar modules increased to 4.8 GW, a 204% increase, while imports reached a record high of 16.2 GW, up 158% from 2022.
- India’s imports of solar cells increased to 15.6 GW in 2023, a 169% increase, while exports reached 286.3 MW (Mega Watt), a 2,765% increase from 2022.
- Monocrystalline modules accounted for 67.5% of the country’s module production capacity; polycrystalline and Tunnel Oxide Passivated Contact (TOPCon) modules came in second and third.
Click here to read from the source
3) CII and ETS India Signs MoU to train Indian workforce for Global Employability (current affairs 30th march 2024)
A Memorandum of Understanding (MoU) has been signed by the Confederation of Indian Industry (CII) and Educational Testing Service (ETS) India to improve the employability of Indian workers worldwide.
The partnership focuses on English language competency and essential 21st-century skills in order to increase the employability of India’s young professionals.
It aims to expedite the recruitment process for Indian talent, guaranteeing that they land positions that correspond with their skill sets in a global context.
About ETS India:
- ETS India is an American company that is a subsidiary of ETS.
- To assist people in developing their abilities, ETS India provides exams like the Graduate Record Examinations (GRE) and Test of English as a Foreign Language (TOEFL), in addition to other learning resources.
Click here to read from the source
INTERNATIONAL AFFAIRS
4) UNESCO Adds 18 New Geoparks to UNESCO Global Geoparks Network
The Executive Board of UNESCO has authorized the inclusion of eighteen new sites in the network of UNESCO Global Geoparks, which are located in Brazil, China, Croatia, Denmark, Finland, France, Greece, Hungary, Poland, Portugal, and Spain.
A transboundary geopark also encompasses the Kingdom of the Netherlands and Belgium.
As a result, there are now 213 geoparks in 48 countries total within the network.
About United Nations Educational, Scientific and Cultural Organization (UNESCO):
- Director-General– Audrey Azoulay
- Headquarters– Paris, France
- Established in– 1945 (came into force in 1946)
Click here to read from the source
BANKING & FINANCE
5) GoI Updates List of Banks Authorized to Import Gold & Silver During FY25
During the Financial Year 2024–2025 (FY25), the Reserve Bank of India (RBI) authorized banks to import gold and silver was updated by the Government of India (GoI).
According to the list, starting on April 1, 2024, the RBI has authorized 11 banks to import gold and silver and 3 banks to import gold exclusively.
The authorization is good until March 31, 2025.
List of Banks Authorised to import Gold/Silver:Â
ICICI Bank Limited, IndusInd Bank Limited, Kotak Mahindra Bank Limited, Axis Bank Limited, Federal Bank Limited, HDFC Bank Limited, Industrial and Commercial Bank of China Limited, RBL Bank Limited, State Bank of India (SBI), and Yes Bank Limited.
List of Banks authorised to import only Gold:Â
Union Bank of India (UBI), Punjab National Bank (PNB), and Indian Overseas Bank (IOB).
Note: India’s imports of gold increased 38.76% to USD 44 billion between April 2023 and February 2024, while imports of silver decreased 11.53% to USD 4.62 billion.
Exports and Imports of Gold & Silver (India):Â
Data from the Observatory of Economic Complexity (OEC) indicates that in 2022, India exported gold valued at USD 124 million. India is currently the world’s 93rd-largest gold exporter.
- Hong Kong, Turkey, and the United Arab Emirates (UAE) are India’s top three travel destinations.
- In 2022, India imported USD 35.8 billion worth of gold, ranking as the world’s fifth-largest gold importer.
South Africa, UAE, and Switzerland are India’s Top 3 Sources. - In 2022, India exported silver valued at USD 33.9 million. India is currently the world’s 41st-largest exporter of silver. Germany, the United States of America (USA), and the United Kingdom (UK) are India’s top three travel destinations.
- With USD1.32 billion in silver imports in 2022, India ranked eighth globally in terms of silver imports. India’s Top 3 Source: Kazakhstan, China, and Russia
Points to note:Â
- China (USD 3.75B), the United Kingdom (USD 3.2B), and Mexico (USD 2.49B) are the top 3 exporters of silver. The top 3 exporters of gold compounds are Germany (USD 643M), Switzerland (USD 447M), and the United States (USD 199 M).
- USA, Canada, and Hong Kong are the top three importers of silver, while the UK, France, and Singapore are the top three importers of gold.
Click here to read from the source
Click here to read Current Affairs: 29th March 2024
6) Bank of Baroda wins co-branding rights for three Delhi Metro stations (current affairs 30th march 2024)
The Indian public sector bank Bank of Baroda (BoB) has purchased the co-branding rights for Rajouri Garden, South Extension, and Inderlok metro stations in Delhi.
At the Inderlok Metro station, Ajay K. Khurana, Executive Director of BoB, officially unveiled the new station branding.
The BoB has been granted naming rights by Delhi Metro Rail Corporation (DMRC) for a ten-year period beginning in 2024.
BoB will receive a dedicated area as part of this partnership for branding, product display, and the installation of an ATM (Automated Teller Machine), Digital Banking Unit (DBU), or kiosk for customer service.
Click here to read from the source
ECONOMY & BUSINESS
7) Fiscal deficit widens in April-Feb 2024 to Rs 15.01-lakh crore: CGA
Data from the Department of Expenditure (DoE), Ministry of Finance’s Controller General of Accounts (CGA) show that the fiscal deficit of the Indian government increased from Rs 11.03 lakh in April 2023 to Rs 15.01 lakh crore in February 2024.
Of the revised estimate of Rs 17.35 lakh crore, 86.5% is accounted for by the fiscal deficit for the period April 2023–February 2024.
Between April 2023 and February 2023, the fiscal deficit was Rs 14.53 lakh crore, or 82.8% of the revised estimate.
Note:
- The initial projected budget was Rs 17.87 lakh crore.
- The government reduced its FY24 fiscal deficit target by 10 basis points (bps) to 5.8% of GDP in the interim budget, which was released in February 2024.
- The government hopes to reduce it even further in the fiscal year 2025, to 5.1%.
Key Points:
- The government’s fiscal deficit increased to Rs 4 lakh crore in February 2024, in part because more tax devolution was released than in February 2023.
The difference between the government’s total outlays and receipts, or the fiscal deficit, is estimated to be 17.35 lakh crore in 2023–24—a slight decrease from 17.55 lakh crore in 2022–23. - From April 2023 to February 2024, the government received a total of Rs 22.45 lakh Cr, or 81.5% of the entire fiscal target.
- With a total expenditure of Rs 37.47 lakh Cr from April 2023 to February 2024, 83.4% of the annual target was met.
Capital expenditure (Capex) for the period of April 2023 to February 2024 was Rs 8.05 lakh crore. - Considerable deficits were noted in the following areas: chemicals and fertilizers (Rs 16,150 Cr), consumer affairs (Rs 35,117 Cr), roads (Rs 26,000 Cr), agriculture (Rs 20,668 Cr), and rural areas (Rs 48,088 Cr).
- The Indian economy is predicted to expand by nearly 8% in the current fiscal year, exceeding the 7.6% growth rate set by the government.
- The Central Government collected Rs 18.5 lakh crore in net tax revenues between April 2023 and February 2024, which is 79.6% of the target.
9% of the target was reached with non-tax revenue of Rs 3.6 lakh crore for the period of April 2023 to February 2024. - The 12-month period’s total receipts came to Rs 22.5 lakh Cr, or 81.5% of the target.
Click here to read from the source
8) JAM & MAE Partners to Invest Rs 2700 crore to set Carbon Fibre Plant
With an investment of Rs 27,000 crore, Jindal Advanced Materials Private Limited (JAM) and MAE S.p.A., an Italian chemical fiber manufacturer, have partnered to establish a carbon fiber plant with a 35,000 MT yearly capacity.
Significance: JAM and MAE S.p.A.’s partnership is poised to completely reshape the carbon fiber sector. This will strengthen India’s standing as the world’s foremost producer of advanced materials.
Key Points:
- JAM and MAE S.p.A. signed the project framework agreement at JEC World 2024, the world’s largest composite materials industry show, which was held in Paris, France.
- JAM intends to increase production to 10,000 MT by 2027 and produces carbon fibers with low to high tow.
- To satisfy the various industrial needs, the facility will provide a variety of intermediates, including prepregs, fabrics, multiaxial, and carbon fiber composites.
- The facility is anticipated to open in less than 30 months, and the project will encompass the whole value chain from intermediates made of carbon fiber to polyacrylonitrile (PAN), a precursor.
Carbon Fibres:
Many characteristics of carbon fiber make it a more dependable material than conventional materials like steel, aluminum, wood, etc. Corrosion resistance, light weight, X-ray transparency, thermal and electrical conductivity, chemical resistivity, and other qualities are among the primary characteristics of carbon fiber.
Uses: Aerospace and racing car bodies, bicycle frames, golf club shafts, car springs, and other parts are made of carbon fiber-reinforced composite materials.
About Jindal Advanced Materials Private Limited(JAM):
- JAM is a part of OP Jindal Group of companies.
- Incorporated in 2017
- Headquarters– Gurugram, Haryana
Click here to read from the source
9) Sterlite Power & Singapore’GIC Partners to Develop Power Transmission Projects in India
A definitive agreement has been signed by Singapore’s GIC Private Limited and the Vedanta Group’s Sterlite Power Transmission Ltd (SPTL) to establish a new platform for the development and operation of power transmission projects in India.
This Joint Venture (JV) platform will focus on the new opportunities arising from the Government of India’s announced requirement for capital expenditures exceeding USD 13.0 billion.
GIC will own the remaining 49% of the shares, with Sterlite Power holding the majority of 51%.
Regarding the transaction, Avener Capital, Shardul Amarchand Mangaldas & Co., PWC, and Deutsche Bank are advising GIC, while Khaitan & Co. and AZB Partners are advising Sterlite Power.
Note: Singapore’s sovereign wealth fund, GIC, formerly known as Government of Singapore Investment Corporation Private Limited, is in charge of overseeing the nation’s foreign exchange reserves.
Click here to read from the source
APPOINTMENTS & RESIGNATIONS
10) Nidhu Saxena named as MD & CEO of Bank of Maharashtra
With effect from March 27, 2024, Nidhu Saxena was named the Bank of Maharashtra’s (BOM) Managing Director and Chief Executive Officer (MD & CEO) for a three-year term.
Note: Upon his election to the position of Vigilance Commissioner at the Central Vigilance Commission (CVC), he will succeed A.S. Rajeev.
About Nidhu Saxena
- After working for Bank of Baroda (BOB) for ten years, Nidhu Saxen joined United Commercial Bank (UCO) to begin his banking career.
- From February 1, 2022, to March 26, 2024, he was Union Bank of India’s (UBI) Executive Director.
- He is also serving as the Union Public Service Commission’s (UPSC) “Subject Expert.”
- He has also served as a member of the Governing Body of the Indian Institute of Bank Management in Guwahati (Assam) and the Academic Council of the National Institute of Bank Management in Pune (Maharashtra).
Note: On March 27, 2024, Pankaj Dwivedi was named Executive Director of Union Bank of India. He had previously worked for Punjab & Sind Bank as the general manager.
About Bank of Maharashtra (BOM)
- MD & CEO – Nidhu Saxena
- Headquarters – Pune, Maharashtra
- Establishment – 1935
- Tagline – Ek Parivaar, Ek Bank (One Family One Bank)
Click here to read from the source
11) PR Sreejesh & Camila Caram Appointed Co-chairs of New FIH Athletes Committee (current affairs 30th march 2024)
The International Hockey Federation (FIH) has named Chilean women’s hockey player Camila Caram and Indian goalie Parattu Raveendran (PR) Sreejesh as co-chairs of the new Athletes Committee.
On the Executive Board, Camila Caram has been designated as the Athletes Committee Representative and Co-Chair.
As co-chair, PR Sreejesh will oversee meetings and planning with Camila Caram.
Note: The FIH Athletes Committee advises the FIH Executive Board, FIH Committees, Advisory Panels, and other bodies in its capacity as a consultative body.
About PR Sreejesh:
- Sreejesh, who is from Ernakulam, Kerala, debuted as a senior athlete in Colombo, Sri Lanka, during the 2006 South Asian Games.
- He has so far competed for India three times at the Olympics: in London, United Kingdom, in 2012; in Rio, Brazil, in 2016; and in 2020.
Notable victories include the:
- Gold at the 2014 Asian Games in Incheon, South Korea;
- Bronze at the 2015 FIH Hockey World League Final, Raipur, Chhattisgarh (India);
- Bronze at the 2020 Tokyo Olympics (Japan) (first medal in the Summer Games in over four decades);
- Gold at the 2022 Asian Games in Hangzhou, China.
Awards: The World Games Athlete of the Year in 2021, the Major Dhyanchand Khel Ratna Award in 2021, the Arjuna Award in 2015, and the Padma Shri (Sports) in 2017.
About Camila Caram:
- Since making her debut for the Chile Women’s Hockey team in 2006, she has participated in approximately 266 games (as of March 28, 2024).
- In January 2024, she competed for Chile as a co-captain in the FIH Women’s Hockey Olympic Qualifiers, which were held in Ranchi, Jharkhand.
About FIH Athletes Committee and New Members:
The Committee will be established on a 4-yearly basis and is composed of:
- 2 Co-Chairs,
- 8 Ordinary Members
Regular Members:
- Juliani Binti Mohamad Din (Malaysia)
- Catherine Thaggard-Fabiano (Fiji)
- Mohamed Mea (South Africa)
- Marlena Rybacha (Poland)
- Matt Swann (Australia)
- Cesar Garcia (Mexico)
- Jacqueline Mwangi (Kenya)
Responsibilities of FIH Athletes Committee:
- Promoting career management, social media, anti-doping, and athlete welfare.
- Exchanging information with the Athletes’ Commission of the International Olympic Committee (IOC) and other sports organizations.
Click here to read from the source
ACQUISITIONS & MERGERS
12) Standard Chartered Bank Sold a 7.18% stake in CDSL for Rs 1,266.48 crore
In a block transaction valued at more than Rs 1,266.48 crore, Standard Chartered Bank sold its whole 7.18% ownership in Central Depository Services (India) Ltd (CDSL).
About CDSL:
- CDSL makes it easier to hold securities electronically. The only two depositories in India are CDSL and National Securities Depository Ltd. (NSDL), which is supported by the National Stock Exchange (NSE).
- The BSE (previously the Bombay Stock Exchange) and several banks, including State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, Standard Chartered Bank, and Union Bank of India, sponsored CDSL in 1999.
Click here to read from the source
SCIENCE & TECHNOLOGY (current affairs 30th march 2024)
13) Skyroot Aerospace Successfully Test-Fired Kalam 250, Stage 2 of Vikram-1 (current affairs 30th march 2024)
The Kalam-250, also known as Stage-2 of the Vikram-1 space launch vehicle, was successfully tested by Hyderabad, Telangana-based aerospace company Skyroot Aerospace Private Limited.
The experiment was carried out at the Indian Space Research Organization’s (ISRO) propulsion testbed at the Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh (AP).
Kalam 250:Â
- The high-strength carbon composite rocket motor Kalam-250 runs on solid fuel and has an advanced thermal protection system (TPS) made of Ethylene-Propylene-Diene terpolymers (EPDM).
- High-precision electro-mechanical actuators and a carbon ablative flex nozzle are housed in the stage-2 for vehicle thrust vector control.
About the Test:Â
- The test took 85 seconds to complete, and the maximum thrust at sea level was 186 kilonewtons (kN), or roughly 235 kN when the vacuum thrust was fully expanded in flight.
- As a result, Kalam-250 is now the biggest propulsion system created and produced by the Indian private industry. Moreover, this is the first motor at ISRO to be tested made of carbon composite.
Points to note: The Vikram Sarabhai Space Centre (VSSC) of ISRO provided the test’s proprietary head-mounted safe arm (HMSA). The rocket stage operates safely thanks to the use of HMSA.
Further information: Skyroot plans to launch the Vikram-1 into orbit for the first time in 2024.
Note: Space launch vehicles are divided into several stages: As the launch vehicle ascends from the atmospheric phase to the dense vacuum of space, stage two is a crucial phase is concerned.
About Skyroot Aerospace:
- Co-founders, CEO & CTO– Pawan Chandana &
- Co-founder & COO– Bharath Daka
- Headquarters– Hyderabad, Telangana
- Established – 2018
Click here to read from the source
14) Tejas Mark-1A fighter aircraft completes first flight in Bengaluru
The Tejas Mark (Mk)-1A fighter aircraft successfully completed its first flight from the Hindustan Aeronautics Limited (HAL) facility in Bengaluru, Karnataka, on March 28, 2024.
Light combat aircraft (LCA) Mk-1A was flown by Group Captain KK Venugopal (retd), the chief test pilot of HAL.
About Tejas Mark-1A:
- The Tejas Mark-1A fighter has enhanced combat capabilities, electronic warfare, and sophisticated radar. Hindustan Aeronautics Limited (HAL) manufactures the Tejas Mark-1A, which was designed by the Aeronautical Development Agency (ADA) under the Defence Research and Development Organization (DRDO).
- Three significant additions are a digital map generator, a combined interrogator and transponder (CIT), and an active electronic scanned array (AESA) radar. The Tejas Mark 1’s digital map generator, which was created by HAL’s Mission and Combat Systems Research and Development Centre (MCSR&DC), failed due to thermal problems. MCSR&DC-designed computers have taken its place.
- HAL has equipped the Mark 1A’s outboard stations with the advanced short-range air-to-air missile, or ASRAAM.
- A modified cockpit floor enables comfortable flight for 95% of IAF pilots, including larger pilots with shoe sizes of 10.
Note:
The IAF intended to purchase 97 additional Mk-1A aircraft at a cost of approximately Rs. 67,000 crore after ordering 83 Mk-1A fighters for Rs. 48,000 crore in February 2021.
About Hindustan Aeronautics Limited (HAL):
- Charge of Chairman and Managing Director– CB Ananthakrishnan
- Headquarters– Bengaluru, Karnataka
- Establishment– 1940
Click here to read from the source
IMPORTANT DAYS
15) World Piano Day 2024– March 28 (current affairs 30th march 2024)
Every year on the 88th day of the year, which corresponds to the 88 piano keys, people celebrate World Piano Day, a celebration of the piano—an acoustic, keyboard, stringed percussion instrument. Usually, March 28 or 29 is when the day falls.
Its goal is to establish a global community platform that will unite pianists from all over the world.
- World Piano Day 2024 was observed on March 28, 2024.
- World Piano Day 2023 was observed on March 29, 2023.
- World Piano Day 2025 will be observed on March 29, 2025.
Background:
- In 2015, World Piano Day was formally instituted. The German pianist and composer Nils Frahm came up with the concept for its commemoration.
- On March 29, 2015, the world piano community observed its inaugural event.
Key Points:
- Its goal is to encourage people of all ages and backgrounds to learn and enjoy playing the piano by promoting music education and accessibility.
- This festivity pays tribute to the instrument as well as the ecosystem that surrounds it.
- It also acknowledges the piano’s rich history and universal appeal, celebrating the instrument’s beauty, adaptability, and cultural significance.
- Pianoists, promoters, organizers, distributors, technicians, enthusiasts of the piano, and pretty much everyone associated with the instrument participated on this particular day.
History of Piano:
- Bartolomeo Cristofori (1655–1731), an Italian instrument maker, created the piano in the eighteenth century, or the 1700s.
- Originally named “gravicembalocol piano e forte,” the piano was described as a “soft and loud harpsichord.”
Click here to read from the source
