Current Affairs – March 25, 2024
National News
Holi To Be Celebrated Throughout Country On Monday
- The festival of colours, Holi will be celebrated throughout the country on Monday. The festival signifies the victory of good over evil and celebrates the arrival of the Spring season.
- On this day, people apply Gulal or colours on one another, exchange greetings, savour sweets, and seek the blessings of elders.
- President Droupadi Murmu, Vice President Jagdeep Dhankhar and Prime Minister Narendra Modi have greeted the people on the occasion. The President said, that Holi is a vibrant and joyous festival, which infuses hope and enthusiasm into people’s lives. She said various colours of Holi symbolise the diversity of the country and this festival promotes the feelings of love, unity and brotherhood among the people.
High Commission of India Unveils Buddhist Exhibition in Colombo
- The High Commission of India in Colombo unveiled a Buddhist Exhibition at Sri Sambodhi Maha Vihara Temple.
- The exhibition coincided with the auspicious occasion of Medin Poya in Sri Lanka.
- It showcases India’s profound Buddhist legacy through a collection of photographs depicting pivotal moments from the life of the Buddha and revered pilgrimage sites across India.
- The exhibition was graced by the High Commissioner of India to Sri Lanka, Santosh Jha, and the Chief Prelate of the Sri Sambodhi Viharaya, Ven. Boralande Wajiragnana Thero.
- This exhibition is part of a series of mobile exhibitions organized by the High Commission, to be unveiled at different Buddhist places of worship on every Poya day throughout the year.
About sri lanka:
- Capitals: Colombo, Sri Jayawardenepura Kotte
- Currency: Sri Lankan Rupee
- Official languages: Sinhala, Tamil
- President: Ranil Wickremesinghe
- Prime minister: Dinesh Gunawardena
Rajasthan Becomes First State to Launch Water Resources Information System Dashboard
- Rajasthan has become the first state to launch a dashboard on water resources information system.
- The dashboard aims to forecast drought and enable better water management.
- This initiative is significant for improving water resource management in the state, particularly in combating drought and ensuring water sustainability.
- The dashboard will provide real-time data and insights on water availability, usage, and conservation efforts.
- Rajasthan’s proactive step highlights the importance of leveraging technology for effective water resource management, especially in regions prone to water scarcity.
Rajasthan state
- Chief minister: Bhajan Lal Sharma
- Governor: kalraj Mishra
- National park: desert national park
- Wildlife sanctuary: mount abu wildlife sanctuary
Banking News
IOB launches 2 gold loan products IOB gold powered card and jewel loan suvidha
- Indian overseas bank has launched 2 new jewel loan products
- IOB gold powered card to provide borrowers with instant access to a card linked directly to their jewel loan overdraft accounts
- Jewel loan suvidha to serve the unique needs of housing loan borrowers not only from IOB but also from other financial institutions
IOB GOLD POWERED CARD:
- Loan range: 25000 to 25 lakhs
- Target group: individuals above 18 years with gold assests
- Cash withdraw limit: 20000 per transaction; Rs 1 lakh daily
JEWEL LOAN SUVIDHA:
- Loan range: 25000 to 50 lakhs
- Target: individuals above 18 years with gold assests
About Indian overseas bank (IOB):
- MD and CEO- Ajay Kumar
- Headquarters: Chennai
- Tagline: good people to grow with
Economy News
S&P global market intelligence revises India’s FY25 growth forecast to 6.8%
- According to global economic outlook March 2024 report released by S AND P global market intelligence India’s GDP forecast is revised to 6.8% for fiscal year 2024-25 from its prior prediction of 6.5% due to strong growth momentum and improving global prospects
- For FY24 India’s GDP growth is revised to 7.3% from 6.9%
- The Indian economy is likely to grow 6.1% in FY26 AND 6.2% In FY27
SAIC motor and jsw group launched a joint venture “JSW MG motor India pvt ltd”
- the new joint venture company “JSW MG motor India pvt ltd” was launched in collaboration between JSW group and MG motor India private limited a wholly owned subsidiary of shanghai based SAIC motor
- JV aims to have sold 1 million electric vehicles in India by 2030 and plans to launch new models, including new energy vehicles every three to six months
- It also plans to invest USD 750 million to produce 300,000 units a year
Jsw group:
- Founder: Sajjan Jindal
- Founded: 1982
- Headquarters: Mumbai, Maharashtra, India
NPS Equity Investments Yield Remarkable Returns in 1 Year
- In the past year, National Pension System (NPS) Tier-1 accounts have showcased extraordinary returns, ranging between 33-39%.
- Among the 10 pension fund managers, Tata-Pension Fund stands out with the highest return at 39.74%, followed closely by ICICI-PF at 38.93% and UTIRSL at 36.89%.
- Other notable performers include Birla PF (35.06%), Kotak-PF (35.02%), and Max-Life (35.95%), all offering returns higher than 35% annually.
About NPS:
- savings scheme launched by the Government of India in 2004.
- Objective: It aims to provide retirement income to Indian citizens.
- Regulation: NPS is regulated by the Pension Fund Regulatory and Development Authority (PFRDA), which oversees its functioning and ensures compliance with rules.
- Tier Structure: NPS is structured into two tiers:
- Tier-I Account: This is a mandatory account for government employees and optional for others. It restricts withdrawals before retirement and aims to provide a retirement corpus.
- Tier-II Account: This is a voluntary savings facility, allowing for withdrawals as per the subscriber’s wish. It can be opened only if a Tier-I account is already active.
- Investment Options: NPS offers various investment options, including equity, government securities, corporate bonds, and alternative investment funds. Subscribers can choose their preferred asset allocation.
Appointment News
Naveen Jindal Assumes Presidency of Indian Steel Association
- Naveen Jindal, Chairman of Jindal Steel and Power, assumes presidency of Indian Steel Association (ISA).
- He takes over from Dilip Oommen, CEO of ArcelorMittal Nippon Steel India.
- Jindal is unanimously elected as president by the apex committee, the governing body of ISA.
- The Indian Steel Association is the apex body representing steel producers in India.
About indian steel association:
- Headquarters- new delhi
- Established-2014
Defence News
Indian army inducts IDD & IS system along northern borders with china
- Indian Army inducts an initial lot of seven indigenous Integrated Drone Detection and Interdiction Systems (IDD&IS) for deployment along the northern borders with China.
- The systems provide for both “soft kills” of hostile drones through jamming and “hard kills” through lasers.
- Developed domestically, the IDD&IS has a detection range of 5 to 8 km and is vehicle-based.
- DRDO is concurrently working on more powerful Directed Energy Weapon (DEW) systems such as high-energy lasers and high-powered microwaves for enhanced capabilities.
Indian army:
- Founded: 26 January 1950; 74 years ago (as current service) 1 April 1895; 128 years ago (as British Indian Army)
- Headquarters: Integrated Defence Headquarters, Ministry of Defence, New Delhi
- Chief: General Manoj Pande
Important days
World Kabaddi Day Celebrated in Haryana with Guinness World Record Attempt
- World Kabaddi Day is celebrated annually on March 24, starting from 2019.
- This year, the event took place at Tau Devi Lal Indoor Stadium in Panchkula, Haryana, India.
- HIPSA (Holistic International Pravasi Sports Association) and World Kabaddi organized the event jointly.
- An MOU between HIPSA and the Government of Haryana was signed to promote Kabaddi globally, making India and Haryana the chosen venue.
- The highlight of the event was a Guinness World Record attempt for the ‘Most players in a Kabaddi exhibition match,’ with organizers challenging the record by attempting to have 154 players, surpassing the benchmark of 84 set by Guinness.
