Current Affairs March 28, 2024
National News
Extension of AFSPA in Nagaland:
- The Centre has extended the Armed Forces (Special Powers) Act (AFSPA) in eight districts and 21 Police Stations in Nagaland from April 1, 2024.
- The extension comes after a review of the law and order situation in the state.
- Dimapur, Niuland, Chumoukedima, Mon, Kiphire, Noklak, Phek, and Peren districts along with 21 police stations in five other districts are declared as ‘disturbed areas’ for six months.
- The extension is subject to withdrawal earlier if the situation improves.
About AFSPA:
- AFSPA Enacted 1958: Legislation enacted by Indian government to aid armed forces in maintaining public order in “disturbed” regions.
- Special Powers: Armed forces authorized to conduct operations, arrest without warrants, and use lethal force if necessary for public order.
- Legal Immunity: Soldiers under AFSPA granted immunity from prosecution for actions, but central government permission required for prosecution.
- Designated Areas: AFSPA applied in areas afflicted by insurgency, militancy, or unrest, such as Jammu and Kashmir, and northeastern states.
Supreme Court Forms Committee on Great Indian Bustard Conservation and Renewable Energy
- The Supreme Court constituted a seven-member committee to address the balance between Great India n Bustard conservation and renewable energy generation.
- This decision arose during the hearing of the case M.K. Ranjitsinh v. Union of India, which originated in 2019.
- Despite a judgment in 2021, the court continued hearings to ensure smooth implementation of its ruling.
- The court had ordered the installation of bird diverters on existing overhead power lines and left room for conversion to underground lines for future projects.
- The committee aims to reconcile conservation efforts with renewable energy initiatives in affected regions.
International News
Unemployment crisis 83% of jobless India ns are youth, says international labour organisation report
- According to the “India Employment Report 2024: youth eduction employment and skills jointly published by the International Labour Organization (ILO) and the institute of human development (IHD), India ’s youth accounts for almost 83% of the unemployed workforce in India.
- The report was released by V. Anantha nageswaran, chief Economic Advisor (CEA) Of India
- He mentioned that report showed the youth employment and underemployment increased between 2000 and 2019 but declined during the COVID-19
- The report projected that youth population which accounts for 27% of total population in 2021 will decrease to 23% by 2036.
About International Labout Organisation (ILO):
- Director-general- Gilbert Fossoun Houngbo
- Headquarters- Geneva, Switzerland
- Established-1919
- Member states- 187 member states
Banking News
Axis bank introduces digital opening of US dollar FD of NRI customers at GIFT city
- On march 27, 2024 axis bank has introduced digital opening of US (United States) dollar fixed deposits (FD) for NRI (Non-Resident Indian) customers at its International Financial Services Center/ IFSC banking unit (IBU) In Gujarat international finance tec (GIFT) city in Gandhinagar, Gujarat.
- With this axis bank become the 1st bank to offer digitization of GIFT city deposits.
- NRI customers can open US dollar fixed deposit at GIFT city through “open by axis bank” the bank’s mobile banking application.
About Axis bank limited:
- Managing director and CEO- Amitabh Chaudhry
- Headquarters-Mumbai
- Established-1993
PayU introduces industry-first downpayment EMI solution for online retail
- Pay U payments private limited, a leading payments solution provider in India, introduced a first of its kind downpayment EMI (equated monthly instalment) solution for online retail. This replicates the flexibility and convenience of downpayment options available in offline EMIs.
- This will enable the users to make a partial payment upfront while the remaining can be converted into easy EMIs.
- With this the Pay U merchant partners can offer flexible options to their customers to decide on a downpayment amount with credit card EMI. This no-code solution offers no cost EMI with a predecided downpayement.
Star housing finance signs co-lenging partnership with Tata capital housing finance
- Start housing limited (STAR HFL) has signed a co-lending partnership with tata capital housing finance limited (TCHFL) to provide loans to economically weaker sections (EWS) and low-income groups (LIG) at more affordable rates.
- The partnerships aim to serve consumers across different geographies by offering diverse origination capacities and levels of frachise to the borrower base.
Agreement News
NTPC signs pact with Japanese agency for USD 200 million loan
- The NTPC (National Thermal Power Corporation) has inked a pact with japan bank for international cooperation (JBIC) for sourcing foreign currency loans of USD 200 million (Japanese Yen (JPY) 30 billion or around Rs 1650 crore).
- JBIC will provide 60% of facility amount and the balance amount will be provided by other commercial banks under JBIC guarantee.
- Agreement signed for JPY 15 billion loans each for NTPC ltd and NTPC renewables energy ltd.
About NTPC limited:
- Chairman and managing director- Gurdeep Singh
- Headquarters- New Delhi
- Establishment- 1975
Award News
Top 10 Strongest Insurance Brands Globally – 2024
- According to the ‘Brand Finance Insurance 100 2024’ report by London-based consultancy firm Brand Finance, Life Insurance Corporation (LIC) from India has emerged as the world’s strongest insurance brand.
- LIC’s top ranking signifies its strong brand value and reputation on a global scale.
- Additionally, SBI Life, another Indian life insurance company, secured the 6th spot among the top 10 strongest life insurance brands globally.
- The report highlights the growing influence and strength of Indian insurance companies in the global market.
- The rankings are based on various factors including brand value, reputation, and financial performance.
- LIC’s dominance reflects its trusted position among consumers and investors alike.
About LIC:
- Chairperson: Siddhartha Mohanty
- Headquarters: Mumbai
- Founded: 1 September 1956
Appointment News
Key Appointments in Central Government’s Security Agencies
- IPS officer Sadanand Vasant Date appointed as the new Director General of the National Investigation Agency (NIA), succeeding Dinkar Gupta.
- IPS officer Piyush Anand, a 1991-batch officer from the Uttar Pradesh cadre, appointed as the head of the National Disaster Response Force (NDRF), replacing Atul Karwal.
About national investigating agency (NIA)
- Established in 2008
- Headquarter- New Delhi
Justice Ritu Raj Awasthi Sworn in as Judicial Member of Lokpal:
- Justice Ritu Raj Awasthi took oath as a judicial member of Lokpal on March 27, 2024.
- The oath was administered by Justice AM Khanwilkar, Chairman of the Lokpal of India.
- Central Vigilance Commissioner Praveen Kumar Srivastava and senior officers from CBI and Enforcement Directorate were present at the ceremony.
What is lokpal?
- Definition: Lokpal is an anti-corruption ombudsman in India, investigating allegations against public officials.
- Legislation: Established by the Lokpal and Lokayuktas Act of 2013 for central and state levels.
- Composition: Includes a chairperson and up to eight members, with 50% being judicial members or eminent experts.
- Functions: Inquires into corruption allegations, recommends actions, and conducts investigations and prosecutions.
- Appointment: Members appointed by the President based on recommendations from a selection committee
Books and author
Minister Releases Book on Invasive Species at TKMM College Event
- Animal Husbandry Minister J. Chinchurani released a book titled “A Compendium on Non-Native Organisms of India ” at TKMM College, Nangiarkulangara near Haripad.
- Co-authored by Kerala University Aquatic Biology and Fisheries department honorary professor K.V. Jayachandran and TKMM College faculties Sheela S., Jasmin Anand, and Vinod Haridas.
- The book highlights invasive species in Alappuzha, their challenges, and measures to control their spread.
