16th March 2024 Daily Current Affairs Update

16th March 2024 Daily Current Affairs Update

Important day

15 March – World Consumer Rights Day

  • World Consumer Rights Day is celebrated annually on March 15 across the globe.
  • Objective – To raise awareness about the rights and responsibilities of consumers in the marketplace.
  • Theme 2024 – Fair and responsible AI for consumers.
  • On March 15, 1962, President John F. Kennedy spoke before the US Congress and addressed consumer rights. This incident marked the first time that a world leader spoke of consumer rights.
  • In 1983, the first World Consumer Rights Day was observed. Since then, the United Nations has recognized the special day.


Mohammad Mustafa elected as new PM of Palestinian


  • The previous prime minister, Mohammad Shtayyeh, resigned along with his government last month.
  • President Mahmoud Abbas of the Palestinian Authority (PA)has appointed Mohammad Mustafa as the new Prime Minister.
  • Mustafa, a U.S.-educated economist, is one of the leading Palestinian business figures with a track record of overseeing Gaza’s reconstruction efforts under Hamas’ rule.

Recently Appointed Prime Minister & President

  • Prime Minister of Pakistan – Shehbaz Sharif (2ndterm)
  • Prime Minister of Kazakhstan – Olzhas Bektenov
  • President of Pakistan – Asif Ali Zardari (14th)
  • President of Indonesia – Prabowo Subianto
  • President of Finland – Alexander Stubb

National News

Reliance to buy 13% of Paramount’s stake in Viacom18 for Rs 4,286 crore


  • Reliance Industrieshas entered in an agreement to buy Paramount Global’s entire 13.01% stake in Viacom 18 Media for Rs 4,286 crore ($517 million).
  • Viacom18 is a subsidiary of TV18 Broadcast, which holds preferencial shares worth 57.48% in the company.
  • Post the transaction, TV18 Broadcast’s stake in Viacom18 will increase to 70.49%. Viacom18 has 40 television channels, including Comedy Central, Nickelodeon and MTV.

Exam Related Facts

  • The stake in Viacom18 was held by Paramount Global through its two subsidiaries.


India ranked 134 out of 193 countries on UN Human Development Index 2022

  • India’s ranking on the United Nations Human Development Indeximproved by one position in 2022 to 134 out of 193 countries ranked compared to 135 out of 192 countries ranked in 2021 on the back of a marginal increase in its HDI value to 0.644 compared to 0.633 in 2021.
  • India, Bhutan and Bangladesh are all in the Medium Human Development category.
  • Switzerland has been ranked number one. Nepal (146) and Pakistan (164) have been ranked lower than India.
  • Life expectancy rose from 67.2 to 67.7 years, expected years of schooling reached 12.6, mean years of schooling increased to 6.57 and GNI per capita saw an increase from $6,542 to $6,951, the report said.


Exam Related Facts

  • The stake in Viacom18 was held by Paramount Global through its two subsidiaries.


Recent index

  • Climate Change Performance Index 2023– India ranked 7th
  • Corruption perception index 2023– India ranked 93rd; topped by Denmark
  • Henley Passport Index 2024– India at 85th; topped by Germany, Italy, Japan, Singapore, and Spain, France
  • International IP Index 2024– India ranked 42nd; topped by USA
  • Mercer’s Quality of Living City Index 2023– Rank 1. Vienna (Austria), Rank 2. Zurich (Switzerland), Rank 3. Vancouver (Canada), Hyderabad (153rd), Pune (154th), Chennai (161st), Mumbai (164th), Kolkata (170th), New Delhi (172nd), Khartoum (Sudan) at the bottom-most position (241st spot).


Book on Sagar Parikrama released by Parshottam Rupala


  • At Rajkot, Gujarat.Union Minister for Fisheries, Animal Husbandry Dairying Parshottam Rupalahas release Book and Video on “Sagar Parikrama” .
  • The object of the book is to chronicle the Sagar Parikrama Yatra, encompassing content on diverse elements, such as the Maritime route, cultural and geographical explorations, and notable impacts from all 12 phases of Sagar Parikrama.
  • The Book on Sagar Parikrama contains 7 chapters covering genesis of Sagar Parikrama, Overview and detailed coverage of the journey of West coast, East coast and the key take away.
  • This document will provide an insight into the challenges of coastal fishermen, their culture, religious and traditional fisheries heritage of India.



Max Verstappen triumphs at Saudi Arabian Grand Prix


  • Sergio Perez (Red Bull) finished at second and Charles Leclerc finished third for Ferrari.
  • Red Bull’s Max Verstappenclinched victory at the Saudi Arabian Grand Prix, starting from pole position.
  • It was the first time Verstappen, winner of a record 19 of 22 races last year, has won the first two races of a season.
  • It marked Red Bull’s second consecutive one-two finish in the 2024 Formula One season.

Exam Related Facts

  • The victory was a ninth in a row for Verstappen, dating back to Japan last September, and the 56th of the 26-year-old Dutch driver’s career.
  • It was also his 100th career podium while Red Bull’s 115th win lifted them ahead of Williams in fourth place on the all-time list.

Mumbai Wins Ranji Trophy 2024 after beating Vidarbha


  • Mumbaihas won the Ranji Trophy 2024 after beating Vidarbha by 169 runs at the Wankhede Stadium in Mumbai.
  • It also happened to be their 42nd title for Mumbai, which showed why they are deemed as a brute force in Indian domestic cricket.
  • Mumbai also ended their 8-year-long wait to win the championship after they last got their hands on the title back in the 2015-16 edition.
  • The Mumbai Cricket Association (MCA) has declared an additional ₹5 crore for the winning team. This means the Mumbai team will receive a whopping ₹10 crore as prize money for their triumph.

Exam Related Facts

  • In addition to the ₹5 crore prize money announced by the Board of Control for Cricket in India (BCCI) for the Ranji Trophy champions.


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