Current Affairs March 10 & 11, 2024

Current Affairs March 10 & 11, 2024

DAILY-CURRENT-AFFAIRS-BY-EDUSPRINT

Current Affairs March 10 & 11, 2024

National News

Union minister Hardeep Singh Puri Inaugurates 201 CNG Stations and India’s First Small-Scale LNG Unit of GAIL

  • Hardeep Puri, Union Minister for Petroleum & Natural Gas and Housing & Urban Affairs, inaugurated 201 CNG stations across India.
  • The CNG stations were set up by 15 city gas distribution (CGD) companies.
  • while India’s first small-scale LNG unit has been set up by GAIL at its Vijaipur LPG plant
  • This initiative aims to boost the availability and accessibility of clean energy options, promoting the use of Compressed Natural Gas (CNG) for vehicles.

Hardeep Singh Puri is an Indian politician and former Indian diplomat who is currently serving as the Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs in the Government of India. He presently also holds the record as the longest serving Minister for Housing and Urban Affairs 

GAIL (Gas Authority of India Limited):

  • Establishment: GAIL was established in 1984 as a state-owned natural gas processing and distribution company in India.
  • Core Activities: GAIL is involved in the exploration, production, transmission, distribution, and marketing of natural gas. It plays a crucial role in the development of the natural gas infrastructure in the country.
  • Ownership: GAIL is a government-owned company, and it operates under the Ministry of Petroleum and Natural Gas.

MoCA notifies provision to let CCI impose penalty on firm’s global turnover

  • Ministry of corporate affairs notified that the provisions of sections 20, 35 & 40 of the completion (amendment) act 2023 will come into force with effect from 6th march 2024
  • The notification was issued in exercise of the powers conferred by sub-section (2) of section 1 of the competition (amendment) act, 2023

Prime Minister Narendra Modi has inaugurated the Sela Tunnel, which is strategically important for enhancing all-weather connectivity and facilitating quick military deployments to Arunachal Pradesh’s Tawang and Kameng regions along the China frontier. 

  • The foundation stone for the tunnel was laid by PM Modi in February 2019. It has recently become operational. This development has occurred during a time when there are tensions along the 3,488-km Line of Actual Control with China.
  • The Sela Tunnel is one of India’s most challenging infrastructure projects, according to the Border Roads Organisation. 
  • Previously, the route to Sela pass had single-lane connectivity with dangerous turns, which made it difficult for heavy vehicles to reach the crucial Tawang area, contested by China as ‘South Tibet’.

Union Minister Arjun Munda Inaugurates National Dairy Mela and Agricultural Exhibition In Jharkhand

  • The 3-day National Dairy Mela and Agricultural Exhibition at Chaibasa in Jharkhand was inaugurated by Union Minister of Tribal Affairs, Agriculture, and Farmers Welfare, Shri Arjun Munda.
  • Organized by the National Dairy Research Institute, Karnal, Haryana, this event marks the first of its kind in Jharkhand, aimed at fostering the comprehensive development of livestock and agriculture in tribal areas.
  • The event witness’s participation from over 6 thousand stakeholders including cattle rearers, farmers, input dealers, entrepreneurs, students, and government officials

Majuli Mask Making and Manuscript Painting Receive GI Tags

  • Majuli, the largest river island in the world, has received two prestigious Geographical Indication (GI) tags from the Indian government for its traditional crafts – Majuli mask making and Majuli manuscript painting.
  • Majuli masks are used in traditional bhaonas (theatrical performances) of the neo-Vaishnavite tradition. These masks can depict gods, goddesses, demons, animals, and birds
  • This art form originated in the 16th century Paintings are done on sanchi pat (manuscripts made of agar tree bark) The earliest example is said to be a rendering of the Bhagwat Purana by Srimanta Sankardev

International Affairs

WB, bill and Melinda gates foundation and UNICEF Pledge approx. USD 600 million to combat cervical cancer

  • The world bank (WB), the bill and Melinda gates foundation and the united nation children’s fund (UNICEF) pledged nearly USD 600 million towards eliminating cervical cancer
  • This funding includes USD 400 million over three years by WB, USD 180 million from the bill and Melinda gates foundation and USD 10 million from UNICEF
  • This commitment was made during the 1ST ever global cervical cancer elimination forum: advancing the call to action held in Cartagena, Colombia.

WORLD BANK:

  • President-Ajay Banga
  • Headquarters- Washington, DC, United States of America
  • Establishment-1944

Banking and Finance

RBI and bank Indonesia sign MOU to promote use of local currencies for bilateral transaction

  • The Reserve bank of India (RBI) and the bank Indonesia signed a memorandum of understanding (MoU) for establishing a framework to promote the use of local currencies of both countries, such as the Indian rupee (INR) and the Indonesian rupiah (IDR) for cross border transactions
  • The MoU was signed by RBI governor shaktikanta das and bank Indonesia governor perry warjiyo
  • The MoU covers all current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries

About Indonesia:

  • Capital- Jakarta
  • Currency-Indonesian rupiah

RBI amends card rules: customers can choose card network

  • The reserve bank of India in exercise of the powers conferred by section 35A of the banking regulation (BR) act 1949 and chapter IIIB of the RBI act 1934, amended the “master direction-credit card and debit card-issuance and conduct directions, 2022” the provisions of which will come into effect from march 07, 2024
  • As per it, card issuers are barred to enter into any arrangement with card networks for the issuance of credit cards that restrain them from availing the services of other card networks
  • This will benefit as customers as they will get the freedom to choose from multiple card networks
  • The timeline to follow the new norms by the card issuers is 6 months

RBI (Reserve Bank of India)

  • Governor- Mr. Shaktikanta Das
  • Established-1st April 1935
  • Headquarters-Mumbai, Maharashtra

Award news

Renowned Architect Riken Yamamoto Awarded 2024 Pritzker Architecture Prize for Humanitarian Contributions.

  • Recipient: Riken Yamamoto has been honoured with the prestigious 2024 Pritzker Architecture Prize.
  • The prize is annually awarded to living architects for their substantial and enduring contributions to humanity and the built environment.
  • Riken Yamamoto is acknowledged for his sustained excellence in the field of architecture, showcasing a significant impact on the global built environment.
  • The award highlights Yamamoto’s commitment to humanitarian causes and his ability to integrate social and environmental considerations into architectural design.

Pritzker Architecture Prize:

  1. Inception: The Pritzker Architecture Prize was established in 1979 by the Pritzker family of Chicago, United States.
  2. Purpose: The prize is awarded annually to a living architect or architects whose work demonstrates a combination of talent, vision, and commitment, resulting in significant contributions to humanity and the built environment.
  3. Recognition: Widely regarded as one of the highest honours in the field of architecture, the Pritzker Prize aims to recognize architects for their outstanding achievements and impact on the architectural world.
  4. Criteria: The prize is awarded based on consistent and significant contributions to the art of architecture, considering innovation, talent, and the architect’s influence on the profession.

Amitav Ghosh Receives Erasmus Prize 2024

  • Indian writer Amitav Ghosh, aged 67, has been awarded the prestigious Erasmus Prize for the year 2024. : The Erasmus Prize was conferred upon Ghosh by the Premium Erasmianum Foundation of the Netherlands.
  • Recognition for: Amitav Ghosh was honoured for his outstanding contributions to literature, particularly for his works that highlight the critical issue of climate change.
  • Focus on Climate Change Crisis: The award underscores Ghosh’s dedication to addressing and raising awareness about the urgent global challenge of climate change through his literary works.

Scheme News

Chief Minister Yogi Adityanath Launches “Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA)” Scheme In Uttar Pradesh To Foster Youth Entrepreneurship.

  • Initiative Launch: Chief Minister Yogi Adityanath is set to launch the “Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA)” scheme in Uttar Pradesh.
  • Objective: The scheme aims to nurture entrepreneurship among the state’s youth, reflecting the government’s commitment to empowering young entrepreneurs.
  • Cultural Shift: MYUVA seeks to foster a culture of innovation and enterprise, encouraging young minds to explore and initiate their own business ventures.
  • Support System: Aspiring youth participating in MYUVA will receive comprehensive support and resources to kickstart their entrepreneurial journeys.
  • Economic Contribution: The initiative is expected to contribute significantly to the economic growth and development of Uttar Pradesh by creating a conducive environment for entrepreneurial activities.
  • Empowerment Focus: MYUVA underscores the government’s dedication to empowering the youth by providing them with the tools and opportunities needed to succeed in the business world.

Agreement News

India signs trade agreement with European Free Trade Association; PM Modi calls it a watershed moment

  • India has signed the Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) in New Delhi on Sunday.
  •  The deal was signed in the presence of Minister of Commerce and Industry Piyush Goyal.
  • Speaking on the occasion, Commerce and Industry Minister Piyush Goyal said TEPA is a modern and ambitious Trade Agreement.
  • He highlighted that for the first time, India is signing a Free Trade Agreement with four developed nations, an important economic bloc in Europe.
  •  He further stated that for the first time in the history of FTAs, the binding commitment of a 100-billion-dollar investment and one million direct jobs in the next 15 years has been given.
  •  He added that the agreement will give a boost to Make in India and provide opportunities to a young and talented workforce. The FTA will provide a window for Indian exporters to access large European and global markets.

European Free Trade Association (EFTA):

  • Formation: EFTA was established on January 4, 1960, as an alternative trade bloc to the European Economic Community (EEC), which later evolved into the European Union (EU).
  • Founding Members: The original founding members of EFTA were Austria, Denmark, Norway, Portugal, Sweden, Switzerland, and the United Kingdom.
  • Objective: EFTA’s primary objective is to promote free trade and economic cooperation among its member states and with other countries. It aims to facilitate trade liberalization without pursuing political integration.

Sports News

Satwiksairaj Rankireddy and Chirag Shetty Clinch French Open 2024 Men’s Doubles Title, Defeating Chinese Taipei Opponents.

  • Victory at French Open 2024: Indian badminton duo Satwiksairaj Rankireddy and Chirag Shetty secured their first title of 2024 by winning the men’s doubles final at the French Open.
  • Opponents Defeated: They emerged victorious by defeating the Chinese Taipei pair of Lee Jhe-Huei and Yang Po-Hsuan in a thrilling final match.
  • Previous French Open Success: This marks the second French Open title for Satwiksairaj Rankireddy and Chirag Shetty, having previously clinched the men’s doubles title in 2021.
  • Runners-up in 2019: The Indian pair had also reached the final in the French Open in 2019, finishing as runners-up, showcasing their consistent performance at the prestigious tournament.

Science and Technology News

Union Minister Ashwini Vaishnaw Launches India’s Fastest Indigenous Multiprotocol Label Switching Router in Bengaluru.

  • Minister’s Portfolio: Ashwini Vaishnaw, Union Minister for Communication, Electronics, IT, and Railways, launched India’s fastest Multiprotocol Label Switching (MPLS) router.
  • Location of Launch: The router was unveiled in Bengaluru, showcasing India’s capability in the development of cutting-edge technology.
  • Significance of Router: The router, with a speed of 2.4 Terabits Per Second, enhances India’s digital infrastructure and addresses the growing demand for high-speed data processing and transmission.
  • Indigenous Development: The MPLS router is indigenously developed, reflecting a stride towards self-reliance and technological innovation in India.

Ashwini Vaishnaw is an Indian politician and former IAS officer who is currently serving as the 39th Minister of Railways, 55th Communications Minister and 2nd Electronics & Information Technology Minister in Government of India since 2021 and a member of the Rajya Sabha representing Odisha since 2019.

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