4th March 2024 Daily Current Affairs Update

There are more than 1,500 UCBs with 11,000 branches, having a deposit of ₹5 lakh crore and credit base of ₹3.50 lakh crore across the country.
NUCFDC has received a Certificate of Registration from the RBI to operate as a Non-Banking Finance Company and serve as the umbrella organisation for the urban cooperative banking sector.
Cooperation Minister Amit Shahhas launched the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC), the Umbrella organization for the Urban Cooperative Banks in New Delhi.

Exam Related Facts

The main objective of NUCFDC should be to help urban cooperative banks adhere to the Banking Regulations Act and bring professionalism in their work.

Why Amit Shah in News

Amit Shah Inaugurates New Cooperative Office for Strengthening Societies and Rural Economy in New Delhi
Amit Shah chairs ‘National PACS Mega Conclave’ in New Delhi
Amit Shah inaugurates 58th DGsP/IGsP conference 2023 in Jaipur
Amit Shah launched logo, website and brochure of National Cooperative for Exports Limited (NCEL)
Amit Shah inaugurated India’s first nano DAP plant in Gandhinagar, Gujarat

L&T commissions India’s first indigenously built green hydrogen electrolyser in Gujarat

This step marks L&T Electrolysers Limited’s entrance into the domestic manufacturing of electrolysers, aligning with the company’s focus on enhancing sustainable energy solutions.
Larsen & Toubro (L&T)has commissioned its first indigenously-manufactured electrolyser at the Green Hydrogen Plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat.

Exam Related Notes

The electrolyser, with a rated power capacity of 1 MW, expandable to 2 MW, is capable of producing 200 Nm3/Hr of hydrogen. It features two stacks and an Electrolyser Processing Unit (EPU) ML-400, both developed and assembled in India, conforming to international standards.

Sarbananda Sonowal dedicates first-ever Made-in-India ASTDS tug

Union Minister Sarbananda Sonowal has inaugurated the 60T bollard pull tug named ‘Ocean Grace’ and the Medical Mobile Unit (MMU).
The Ocean Grace is the first make in India ASTDS Tug developed by the Cochin Shipyard Limited under MoPSW.
The ‘Ocean Grace’ built at a cost of Rs. 45 crores, stands as a pinnacle of maritime engineering, equipped with cutting-edge technology and boasting a remarkable bollard pull of 60 tonnes.
The goal of the Green Tug Transition Programme (GTTP) is to convert at least 50% of all tugs into Green Tugs by 2030 and to have Green Tugs operating at all major ports.

Exam Related Notes

Sarbananda Sonowal launches ‘Sagar Aankalan’guidelines to boost efficiency, competitiveness
Kalughat Inland Waterways Transport terminalin Bihar launched by Sarbananda Sonowal
Sarbananda Sonowal laid foundation stone of the Regional Research Institute for Homoeopathyat Guwahati
Port Health Organizationunder Sagar Setu launched by Sarbananda Sonowal
Sarbananda Sonowal launches 3rd edition of Global India Maritime Summit

Telangana govt to launch Indiramma housing scheme

The Telangana governmentwill launch the Indiramma housing scheme in the state on March 11.
Under the scheme, the Congress government will provide Rs 5 lakh financial assistance to construct houses for those who already own a housing plot.
A piece of land and Rs 5 lakh will be given as a housing scheme to benefit those who do not have the plot.
The first phase will witness the approval of 3,500 houses in each Assembly constituency, catering to a significant number of beneficiaries.

Exam Related Facts

Schemes launched by state governments

CM’s Health Insurance Scheme (Nagaland)– To ensures financial security and protection
Savera programme (Haryana)– For early detection and prevention of breast cancer.
Van Mitra (Haryana)– To encourage community participation in tree planting activities in non-forest areas.
Swayam Scheme (Odisha) – To provide interest-free loans up to Rs 1 lakh to youth of the state
CM Vayoshree Yojana (Maharashtra)– For senior citizens who suffer from some physical or mental disability

Telangana

Established – 2 June 2014
Capital –Hyderabad
Chief Minister– Revanth Reddy (replace K. Chandrashekar Rao)
Deputy CM – Mallu Bhatti Vikramarka
Governor –Tamilisai Soundararajan
Speaker of Telangana Assembly –Gaddam Prasad Kumar

Smriti Irani launched Haj Suvidha mobile App

Minority Affairs Minister Smriti Irani has released Haj Guide 2024 and launched Haj Suvidha Mobile Application in New Delhi.
Last year, more than four thousand women successfully went for Haj under Lady without Mehram (LWM) category.
The central government is continuously striving to improve the Haj experience for the Indian Haj pilgrims.

Exam Related Facts

Haj Suvidha Mobile App will aid the pilgrims in providing their location to officials in case of any need. App will also help pilgrims to locate the nearest health facilities in times of need.
This year, over 5000 women have applied under LWM category for Haj.

REC Limited joins hands with UNISED to support Education of Children

UNISED, with its nationwide presence, has stated that it is dedicated to revolutionizing education through innovative learning systems. As part of this collaboration, UNISED will implement solar energy-operated smart classes and establish joyful learning resource labs in government schools across Siddharthnagar district.
Recently, REC Foundation, has demonstrated unwavering support for the education of 12,500 children of ex-servicemen, making a contribution of Rs. 15 Crores to the Armed Forces Flag Day Fund.
REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading Non-Banking Finance Company, has partnered with the Unit of Science and Educational Development (UNISED) to support the education of around 75,500 children of Siddharthnagar district, Uttar Pradesh.

Exam Related Facts

REC has entered into this partnership through its Corporate Social Responsibility arm REC Foundation.
REC has committed a financial assistance of Rs. 9.91 crores towards this noble cause.

Banking and Financial

Flipkart unveils its UPI handle to boost India’s digital evolution

Flipkart has launched its UPI (Unified Payments Interface) handle to enhance digital paymentofferings to all users, including the e-commerce major’s over 500 million customers, and boost India’s digital evolution.
Powered by Axis Bank, Flipkart UPI will initially be available for Android users.

Exam Related Facts

Customers can register for UPI with @fkaxis handle and can do fund transfers and checkout payments using the Flipkart app.

FIU imposes 5.49 crore fine on Paytm Payments Bank

The penalty pertains to issues within a business segment that was discontinued two years ago.
The investigation was prompted by specific information provided by law enforcement agencies regarding certain entities believed to be involved in illicit activities, including online gambling.
The bank was accused of violating rules outlined in the PMLA and its associated regulations, as well as guidelines issued by the Director FIU-IND.

Exam Related Facts

Financial Intelligence Unit – India (FIU-IND) has hit Paytm Payments Bank Ltd with a hefty penalty of Rs 5,49,00,000 for alleged violations of anti-money laundering rules under the Prevention of Money Laundering Act (PMLA).

Appointment

IPS officer Anurag Agarwal appointed head of Parliament security

The post of JS (Security) is traditionally held by an IPS officer.
His appointment order was issued by the Lok Sabha Secretariat.
Currently an inspector general in CRPF has been appointed as joint secretary (security) for three years.
Agarwal is the 1998-batch officer of the Assam-Meghalaya cadre.

Exam Related Facts

Recent Appointment in Defence Sector

Vice Chief of the Army Staff– LG Upendra Dwivedi (replace LG MV Suchindra Kumar)
Director General of Naval Operations (DGNO)– AN Pramod
DG of Sashastra Seema Bal (SSB) – Daljit Singh Chaudhary
DG of National Security Guard (NSG) – Daljit Singh Chaudhary (additional charge)
Chief Staff Officer at Eastern Naval Command HQ – Shantanu Jha

RBI approves ex-Sebi director as TMB’s part time chairman

RBI approved his appointment with effect from February 29, 2024 till August 2, 2026.
Ravindran, 61, has an extensive work experience of 29 years at the Securities and Exchange Board of India (SEBI). He was its executive director from August 2011 to May 2022.
Prior to assuming charge as part-time chairman of the bank, he has to step down from the directorships in Shriram Finance and Bandhan AMC.
Currently, Mr. Ravindran is an independent director on the boards of NSE, LTIDPL Invit Services, Shriram Finance and Bandhan AMC.

Exam Related Facts

Recent Appointment in Banking & Insurance Sector

Non-executive Chairman of Indian Overseas Bank (IOB)– Srinivasan Sridhar (3 years)
Non official Director of Bank of India (BOI) –M R Kumar (3 years)
MD & CEO of SBM Bank India– Ashish Vijayakar (for 3 years)
MD & CEO of Jana Small Finance Bank– Ajay Kanwal
Chairperson & Independent Director of PayU– Renu Sud Karnad

Shahbaz Sharif elected as PM of Pakistan

The recently concluded general elections have been marred by allegations of mass vote rigging.
Pakistan Muslim League- Nawaz (PML-N) leader Shahbaz Sharifhas been elected as the Prime Minister of Pakistan.
Imran Khan’s PTI has alleged that several candidates of PML-N and PPP were declared winners despite other candidates securing the most votes.
He secured 201 votes while Omer Ayub Khan, the Imran Khan-backed PTI candidate managed to get 92 votes.

Exam Related Facts

Recently Appointed Prime Minister & President

President of Indonesia – Prabowo Subianto
President of Finland – Alexander Stubb
Prime Minister of Kazakhstan – Olzhas Bektenov
Prime Minister of Yemen – Ahmed Awad bin Mubarak
President of El Salvador – Nayib Bukele (2^ndtime)
Sultan of Malaysia – Ibrahim Iskandar (17th)

Awards

Pradeep Mahajan receives Maharashtra Bhushan Award 2024

Pradeep Mahajanhas been awarded for his contribution in the field of regenerative medicine.
Mahajan is the Founder and Chairman and Managing Director (CMD) of StemRx Hospital and Research Centre along with Stem Rx Bioscience Solutions.
This accolade is a testament to his pioneering efforts and substantial impact in advancing regenerative medicine, offering new hope and innovative treatments to patients worldwide.
Under Dr. Mahajan’s leadership, Stem Rx Hospital and Research Centre has emerged as a leading institution in the field of regenerative medicine.

Exam Related Facts

Recent Awards

Innovative Technology Development Award– REC Ltd
Honorary Knighthood from King Charles III– Sunil Bharti Mittal
France’s highest civilian honour ‘Chevalier de la Legion d’honneur’– Shashi Tharoor
Best Technology Bank of the Year award by IBA– South Indian Bank (6 categories)
58th Jnanpith Award 2023 –Urdu poet Gulzar and Sanskrit scholar Jagadguru Rambhadracharya

Important day

4 March – World Obesity Day

Observed on March 4 every year.
Obesity Day tries to raise awareness about this medical condition.
Theme 2024 – Let’s Talk About Obesity And…”
It also encourages solutions that can help maintain a healthy weight and reverse the obesity crisis with practical measures.

Exam Related Facts

According to the World Health Organization, in 2022, overweight affect around 37 million children under 5 globally, and over 390 million children and adolescents aged 5 -19 years were overweight, including 160 million who were living with obesity – 75% of who live in low- and middle-income countries.

4 March – National Safety Day

Theme 2024 – Safety Leadership for ESG Excellence.
The National Safety Council established the holiday to raise public awareness of all safety regulations, including those about the environment, workplace safety, traffic safety, and human health safety.
Observed every year on 4 Marchto spread awareness and commitment to working safely.

Exam Related Facts

The National Safety Council (NSC) of India was established on 4 March 1966.
This initiated the observance of National Safety Day in 1972, and since then, it has been celebrated every year to raise awareness about occupational safety and health.