Current Affairs Feb 27, 2024

Current Affairs Feb 27, 2024

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Current Affairs Feb 27, 2024

National News

9th Edition of Raisina Dialogue: Navigating Global Uncertainties and Opportunities

9th Edition of Raisina Dialogue - Navigating Global Uncertainties and Opportunities
9th Edition of Raisina Dialogue – Navigating Global Uncertainties and Opportunities
  • Inauguration: Prime Minister Narendra Modi opened the 9th edition of the Raisina Dialogue conference on February 27, 2024, in New Delhi.
  • Chief Guest: Greece Prime Minister Kyriakos Mitsotakis attended the event as the chief guest.
  • Theme: The 2024 edition’s theme, “Chaturanga: Conflict, Contest, Cooperate, Create,” encapsulates the prevailing global uncertainties and turbulence while also highlighting opportunities through collaborative partnerships.
  • The annual Raisina Dialogue is jointly organized by the Indian Ministry of External Affairs and the Observer Research Foundation, a prominent independent think tank.

Establishment: Since its inception in 2016, the Raisina Dialogue has evolved into India’s foremost forum for discussing geopolitics and geo-economics.

CEIB Launches Portal for Antecedent Verification of Prospective Borrowers & NPAs

CEIB Launches Portal for Antecedent Verification of Prospective Borrowers & NPAs
CEIB Launches Portal for Antecedent Verification of Prospective Borrowers & NPAs
  • The Central Economic Intelligence Bureau (CEIB) introduced a portal aimed at conducting antecedent verification of prospective borrowers and Non-Performing Assets (NPAs).
  • The portal facilitates the verification process to assess the credibility and background of potential borrowers, thereby aiding in the prevention of NPAs.
  • The digital platform streamlines the verification procedure, enhancing efficiency and reducing the risk associated with lending activities for financial institutions.
  • This initiative aligns with efforts to strengthen the banking sector by promoting responsible lending practices and minimizing the occurrence of loan defaults.

CEIB (The Central Economic Intelligence Bureau)

  • Formation: CEIB was established in 1985.
  • Operational Authority: Operates under the Department of Revenue, Ministry of Finance, Government of India.
  • Role: Apex intelligence agency tasked with gathering, collating, and analyzing economic and financial intelligence.
  • Mission: Combat economic offenses and financial crimes in India.
  • Functions: Coordinates efforts among law enforcement agencies.
  • Focus Areas: Address issues like money laundering, tax evasion, and other economic offenses.

India’s Ambitious Space Goals: PM Modi Announces Own Space Station by 2035 and Moon Landing

India's Ambitious Space Goals PM Modi Announces Own Space Station by 2035 and Moon Landing
India’s Ambitious Space Goals PM Modi Announces Own Space Station by 2035 and Moon Landing
  • Prime Minister Narendra Modi declared India’s plan to establish its space station by 2035, emphasizing its role in studying the unknown expanses of space.
  • Addressing a gathering at the Vikram Sarabhai Space Centre (VSSC) in Thiruvananthapuram, PM Modi also announced that an Indian astronaut would land on the moon’s surface using indigenous rocket technology.

Banking News

Bihar Government Partners with SIDBI to Boost Startup Ecosystem

Bihar Government Partners with SIDBI to Boost Startup Ecosystem
Bihar Government Partners with SIDBI to Boost Startup Ecosystem
  • Bihar government collaborates with SIDBI to enhance the startup ecosystem in the state.
  • A Memorandum of Understanding aims to foster a supportive environment for startups.
  • Objective: To establish Bihar as a prominent startup hub.
  • Creation of Bihar Startup Fund Trust (BSFT) to administer the Rs 50-crore Bihar Startup Scale-up Financing Fund.
  • BSFT, under the Industries Department, to implement Bihar’s Startup Policy.

SIDBI Bank details

  • Name: Small Industries Development Bank of India (SIDBI)
  • Established: 1990
  • Purpose: Principal financial institution for promotion, financing, and development of micro, small, and medium-scale enterprises (MSMEs) in India.
  • Autonomy: Autonomous financial institution.

RANKING AND REPORT NEWS

IFFCO Ranked First Among Top 300 Cooperatives Worldwide

IFFCO Ranked First Among Top 300 Cooperatives Worldwide
IFFCO Ranked First Among Top 300 Cooperatives Worldwide
  • Indian Farmers Fertiliser Cooperative Ltd (IFFCO) retains its top position among the top 300 cooperatives globally.
  • Ranking based on turnover-to-GDP per capita ratio.
  • IFFCO is recognized as a leading player in the fertilizer industry in India and internationally.
  • Sustained leadership position underscores its financial strength and cooperative model success.

IFFCO: Indian Farmers Fertiliser Cooperative Ltd

  • Formation: Established in 1967 to enhance agricultural productivity and support rural farmers.
  • Ownership: Owned by over 36,000 member cooperatives, primarily farmers.
  • Products: Produces urea, phosphatic, and complex fertilizers for diverse crop needs.
  • Expansion: Diversified into seeds, agrochemicals, rural retailing, and telecommunications.
  • International Presence: Operates globally through subsidiaries, contributing to global agricultural development.
  • Cooperative Model: Operates on a cooperative basis, ensuring farmer participation in decision-making.
  • Social Initiatives: Engaged in initiatives for farmer empowerment and rural development.
  • Recognition: Receives awards for contributions to agriculture and corporate governance.

DEFENCE News

Dosti 16 Exercise in Maldives: Strengthening Maritime Collaboration

Dosti 16 Exercise in Maldives Strengthening Maritime Collaboration
Dosti 16 Exercise in Maldives Strengthening Maritime Collaboration
  • Indian and Sri Lankan coast guard ships participated in the Dosti 16 exercise held in the Maldives from February 22-25.
  • Bangladesh’s involvement as an observer highlights the expanding scope of the exercise.
  • This development underscores the increasing significance of maritime cooperation in addressing evolving challenges in the region.

Dosti exercise:

  • DOSTI Exercise Origins: Started in the early 1990s, the inaugural exercise was held in 1991.
  • Purpose: Enhance regional maritime cooperation among Coast Guard agencies.
  • Annual Event: Conducted annually to facilitate joint training and operational coordination.
  • Participants: Involves coast guard ships from India, Sri Lanka, and Maldives.
  • Objective: Strengthen maritime security and response capabilities in the region.
  • Bangladesh’s Involvement: Bangladesh participates as an observer, indicating growing regional engagement.

Sports News

India wins 18 medals at BWF Para-Badminton World Championships 2024

India wins 18 medals at BWF Para Badminton World Championships 2024
India wins 18 medals at BWF Para Badminton World Championships 2024
  • the Indian shuttlers won 18 medals (3 gold, 4 silver, and 11 bronze) at the BWF para-badminton world Championships 2024 held from 20th -25th February 2024 in Pattaya, Thailand
  • the 14th edition of the bi-annual event organized by BWF Para-Badminton Association of Thailand

Indian Gold medal winners:

  1. Suhas Lalinakere Yathiraj
  2. Krishna Nagar
  3. Pramod Bhagat

Science and Tech News

India’s Fantastic 4: Meet The Gaganyaan Astronauts Named By PM

India's Fantastic 4 Meet The Gaganyaan Astronauts Named By PM
India’s Fantastic 4 Meet The Gaganyaan Astronauts Named By PM
  • Prime Minister Narendra Modi revealed the names of four astronauts selected for India’s maiden human space flight mission, the Gaganyaan Mission.
  • The astronauts undergoing rigorous training are Prashanth Nair, Angad Prathap, Ajit Krishnan, and Shubhanshu Shukla.
  • Extensive preparations are underway at various ISRO centers for the Gaganyaan Mission, marking India’s significant leap in space exploration.

Gaganyaan Mission short recap:

  • Objective: Showcase India’s human spaceflight capability and ensure safe operations.
  • Crew: Indian astronauts undergoing extensive training..
  • Training: Rigorous preparation in various aspects of spaceflight.
  • Collaborations: ISRO partners with international agencies for support and expertise.
  • Significance: Demonstrates indigenous capability, fosters tech advancements, and inspires future scientists.
  • Launch Window: Targeting 2024-2025 for mission launch. Top of Form

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