Current Affairs March 2, 2024

Current Affairs March 2, 2024

Current Affairs March 2, 2024

National News

Fourth Edition of ‘Lineman Diwas’ Celebrates Service and Dedication

  • Hosted by the Central Electricity Authority (CEA), Ministry of Power, in New Delhi on March 4, 2024.
  • Dedicated to honouring the vital contributions of linemen and ground maintenance staff in electricity distribution across India.
  • Collaborating with Tata Power Delhi Distribution Ltd (Tata Power-DDL) under the theme ‘Seva, Suraksha, Swabhiman’ to highlight their selfless service.
  • Recognizes the tireless efforts and sacrifices of linemen nationwide, emphasizing their role

Central Electricity Authority (CEA)

  • Establishment: Founded in 1951 under the Electricity (Supply) Act, of 1948.
  • Functions: Formulates policies, advises government on national electricity policy, ensures integrated power system operation, and regulates technical standards.
  • Composition: Consists of a chairman and full-time members appointed by the government.
  • Regulatory Authority: Oversee power sector operations including generation, transmission, distribution, and grid management.
  • Grid Management: Critical role in managing the national power grid for reliability, stability, and efficiency.
  • Research and Development: Promotes R&D for innovation and technological advancement in the power sector.

Hyderabad Unveils 21-Feet Statue of Maharana Pratap

  • Begum Bazar Maharana Pratap Chowk witnesses the unveiling of the largest statue of Maharana Pratap in Hyderabad.
  • Crafted with meticulous detail and weighing two tonnes, the statue stands 21 feet tall, symbolizing the enduring legacy of the revered Rajput warrior.
  • Created by artist Sunder Singh over three months, the statue serves as a testament to Maharana Pratap’s spirit and valor for future generations.
  • Top of Form
  • in ensuring power reliability and safety.

ECONOMY NEWS

India’s GST Collection Surges by 12.5% in February

  • The government reports a year-on-year increase of 12.5% in Goods and Services Tax (GST) collection, totalling Rs 1.68 lakh crore in February.
  • February’s GST collection demonstrates a robust growth in tax revenues compared to the same month in the previous year.
  • The surge reflects positive economic momentum and effective tax administration efforts.

Goods and service tax (GST):

  • GST Introduction: Comprehensive indirect tax on goods and services across India.
  • Implementation: Introduced on July 1, 2017, replacing multiple indirect taxes.
  • Objective: Create a unified and simplified tax system, eliminate cascading effects, and promote ease of doing business.
  • Dual Structure: CGST by central government, SGST by state governments.
  • IGST: Levied on interstate supply, administered centrally.
  • Tax Slabs: Structured into 5%, 12%, 18%, and 28%, with specific rates for essentials.

BANKING NEWS

FIU-IND Imposes ₹5.49 Crore Penalty on Paytm Payments Bank for Money Laundering Violations

  • The Financial Intelligence Unit-India (FIU-IND) imposes a penalty of ₹5.49 crore on Paytm Payments Bank Ltd for violations of the Prevention of Money Laundering Act.
  • FIU-IND initiated the penalty following a review prompted by specific information from law enforcement agencies regarding illegal activities.
  • Penalties stem from the bank’s involvement in facilitating illegal activities, notably online gambling, and mishandling funds generated from such operations.

Financial intelligence unit-India (FIU IND)

  • Establishment: Founded in 2004 under the Prevention of Money Laundering Act, 2002 (PMLA).
  • Objective: Receives, analyzes, and disseminates information on suspect financial transactions to law enforcement agencies and competent authorities.
  • Responsibility: Combat money laundering and terrorist financing activities in India.
  • Key Function: Coordination of efforts to detect and prevent financial crimes.

AGREEMENT NEWS

Google Supports Shakti Consortium to Combat Online Misinformation

  • Google announces support for Shakti, a consortium of News publishers and fact-checkers, to bolster the fight against online misinformation.
  • The initiative focuses on early detection of online misinformation, including deepfakes, and establishing a common repository for News publishers to address such challenges effectively.
  • Shakti aims to provide a collaborative platform for independent fact-checkers and Indian language publishers, enhancing efforts to combat misinformation.

APPOINTMENT NEWS

Anurag Agarwal Appointed New Head of Parliament Security

  • IPS officer Anurag Agarwal, from the 1998 batch of the Assam-Meghalaya cadre, was appointed as the new head of Parliament security.
  • Agarwal, currently serving as an inspector general in the Central Reserve Police Force (CRPF), brings extensive experience to bolster security measures in India’s parliamentary complex.

Books and author

Odisha Chief Minister Releases Coffee Table Book on FIH Odisha Hockey Men’s World Cup 2023

  • Odisha Chief Minister Naveen Patnaik unveils the coffee table book titled ‘FIH Odisha Hockey Men’s World Cup 2023’, published by Sportstar, capturing the essence of the event.
  • The book commemorates the 15th FIH Odisha Hockey Men’s World Cup held in 2023, celebrating the amalgamation of sports and culture.

Ranks and reports

US chamber’s international IP index 2024 India retained 42nd rank the USA tops

  • According to the 12th edition of the International Intellectual Property Index (2024) by the United States Chamber of Commerce India has retained the 42nd rank with an overall score of 38.64%
  • The United States of America has topped the list with an overall score of 95.48% followed by the United Kingdom (UK) in the 2nd place with 94.12% and France in the 3rd with 93.12%

Sports News

India’s Women football team finished runners up in Turkish women’s cup 2024

  • The Indian women’s football team (nickname: Blue Tigresses) finished runner-up at the Turkish women’s cup 2024 after losing to Kosovo in the finals held at the gold city sports complex in alanya
  • The 8th edition of tukish women’s cup also known as the alanya gold city cup was held from 21st to 27th February 2024 in alanya tukiye

Defence News

DRDO Conducts successful flight test of VSHORADS missile in Chandipur, Odisha

  • The DRDO successfully conducted the flight test of the very short-range air defence system (VSHORADS) Missile a man-portable air defence system (MANPADS) off the coast of Odisha on 28th and 29th February 2024
  • The missile was tested from a ground-based portable launcher from the integrated test range in Chandipur, Balasore, Odisha

DRDO: Defence Research and Development Organisation

  • Formed in 1958 is the research and development (R&D) wing of the Ministry of Defence
  • Chairman: Dr. Samir Vankatpati Kamat
  • Headquarters- New Delhi

Science and Tech News

Banana Pseudo Stems Transformed into Eco-Friendly Wound Dressing Material by IASST Researchers

  • Researchers from the Institute of Advanced Study in Science and Technology (IASST) developed eco-friendly wound dressing material using banana pseudo stems.
  • Prof. Devasish Chowdhury and Prof. (Retd) Rajlakshmi Devi lead the team in blending banana fibres with chitosan and guar gum, creating a robust and antioxidant-rich patch for wound care.

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