Current Affairs March 29, 2024

Current Affairs March 29, 2024

Current Affairs March 29, 2024

National News

Iconic Om-shaped Temple Inaugurated in Rajasthan

  • The world’s first temple designed in the iconic Om shape has been inaugurated in the village of Jadan, Pali district, Rajasthan.
  • Spanning across 250 acres, this architectural masterpiece is set to attract tourists with its unique design.
  • The temple is expected to have an impressive visual presence, visible even from space.
  • Located in Rajasthan, a state known for its rich cultural heritage and historical significance, this temple adds another dimension to the region’s tourist attractions.

About rajasthan:

  • Chief minister: Bhajan Lal Sharma
  • Capital: Jaipur (Executive Branch)
  • Governor: Kalraj Mishra

Tata Motors’ TPEM Partners with HPCL to Set Up 5,000 EV Charging Stations Nationwide

  • Tata Passenger Electric Mobility (TPEM), a unit of Tata Motors, has forged a strategic alliance with Hindustan Petroleum Corporation Ltd (HPCL) to establish a network of 5,000 public charging stations for electric vehicles (EVs) across India.
  • The partnership aims to bolster the infrastructure required for the widespread adoption of EVs and address concerns regarding charging accessibility.
  • By targeting 5,000 charging stations by the end of 2024, the initiative endeavors to facilitate the transition to electric mobility and reduce carbon emissions.

Tata motors:

“900-Year-Old Kannada Inscription Unearthed in Mahabubnagar District, telangana

  • A rare Kannada inscription dating back to the Kalyana Chalukya dynasty, approximately 900 years old, was discovered in Gangapuram, Jadcherla mandal, Mahabubnagar district  Of telangana.
  • The neglected inscription was found abandoned on a tank bund near the Chowdamma temple, indicating a lack of awareness regarding its historical significance.
  • This discovery sheds light on the rich historical and cultural heritage of the region, providing valuable insights into the Kalyana Chalukya dynasty’s presence and influence in the area.

Telangana state:

  • Capital: Hyderabad
  • Chief minister: Revanth Reddy
  • Governor: C. P. Radhakrishnan

“PM Modi Celebrates Garba’s Global Popularity and UNESCO Recognition”

  • Prime Minister Narendra Modi expresses joy over the increasing global popularity of Garba, a traditional Indian dance form.
  • Garba was recently inscribed on the UNESCO Intangible Cultural Heritage list, with the Certificate of Inscription presented in Paris.
  • A memorable Garba Night was organized in Paris, attended by a large Indian community, highlighting the cultural significance and appeal of Garba.
  • PM Modi emphasizes Garba as a celebration of life, culture, and devotion, emphasizing its role in uniting people from diverse backgrounds.
  • The UNESCO recognition underscores the importance of preserving and promoting cultural heritage, promoting awareness and appreciation of traditional art forms like Garba on a global scale.

UNESCO:

Banking News

Kotak Mahindra Bank’s Share Price Rises 1% After Acquisition of Sonata Finance”

  • Kotak Mahindra Bank has successfully acquired Sonata Finance Private Limited in a deal worth approximately ₹537 crore.
  • With this acquisition, Kotak Mahindra Bank now holds full ownership of Sonata Finance, further expanding its portfolio and presence in the financial sector.
  • The stock price of Kotak Mahindra Bank rose by 1.15% to ₹1796 following the announcement of the acquisition.
  • Despite the rise, the stock is still around 12% lower than its 52-week high of ₹2,063, indicating potential for growth in the future.
  • Kotak Mahindra Bank currently enjoys a market capitalization of ₹3,57,015 crore, reflecting its significant position in the financial market.

Kotak mahindra bank:

“SEBI Cancels Karvy Investor Services Ltd’s Registration as Merchant Banker”

  • The Securities and Exchange Board of India (SEBI) takes significant action by revoking the registration of Karvy Investor Services Ltd (KISL) as a merchant banker.
  • SEBI’s decision follows an inspection conducted during March 15-17, 2023, which revealed that KISL failed to meet eligibility criteria and lacked operational functionality at its registered and correspondence addresses.
  • The cancellation underscores regulatory vigilance in ensuring compliance with eligibility and infrastructure requirements among financial institutions.
  • Karvy Investor Services Ltd’s loss of registration highlights the consequences of regulatory non-compliance within the securities market.

About SEBI:

  • The Securities and Exchange Board of India was constituted as a non-statutory body on April 12, 1988 through a resolution of the Government of India.

●      Madhabi Puri Buch Chairperson, SEBI

Bank of Maharashtra’s Stock Surges 5.68% on Nidhu Saxena’s Appointment as MD & CEO

  • Bank of Maharashtra’s shares rose by 5.68% to reach Rs 62.55 following the central government’s approval of Nidhu Saxena’s appointment as the MD & CEO of the bank.
  • Nidhu Saxena, previously serving as the executive director at Union Bank of India, brings extensive experience to his new role.
  • His appointment comes after A.S. Rajeev’s selection as Vigilance Commissioner in the Central Vigilance Commission, necessitating the appointment of a new MD & CEO.
  • Saxena’s tenure is set for three years, effective from March 27, 2024, indicating stability and continuity in Bank of Maharashtra’s leadership.

Bank of maharashtra:

“IRDAI Retains LIC, GIC Re, New India Assurance as Domestic Systemically Important Insurers (D-SIIs)”

  • The Insurance Regulatory and Development Authority of India (IRDAI) has retained Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC Re), and New India Assurance Company as Domestic Systemically Important Insurers (D-SIIs).
  • D-SIIs are perceived as ‘too big or too important to fail’ (TBTF) due to their size, market significance, and interconnectedness, which could lead to significant disruptions in the financial system if they fail.
  • LIC and New India Assurance are the largest life and general insurance companies in India, respectively, while GIC Re is the sole Indian reinsurer.
  • The uninterrupted functioning of D-SIIs is crucial for maintaining the availability of insurance services to the national economy.
  • D-SIIs are subject to additional regulatory measures to address systemic risks and moral hazard issues, including enhanced corporate governance, risk management frameworks, and promoting a culture of sound risk management.

IRDAI:

Appointment News

UN Appoints India’s Kamal Kishore as Special Representative for Disaster Risk Reduction

  • Kamal Kishore, an official at India’s National Disaster Management Authority (NDMA), has been appointed by UN Secretary-General António Guterres as his special representative for disaster risk reduction.
  • Kishore, aged 55, will serve as the assistant secretary-general and special representative of the secretary-general for disaster risk reduction.
  • The appointment was announced by Stéphane Dujarric, the spokesperson for the UN secretary-general, during a daily press briefing.
  • Kishore’s extensive experience and expertise in disaster management make him well-suited for the role, enhancing global efforts to mitigate and manage disaster risks.
  • This appointment reflects the recognition of India’s contributions and leadership in disaster risk reduction efforts at the international level.

About NDMA: National Disaster Management Authority (India), abbreviated as NDMA, is an apex Body of Government of India, with a mandate to lay down policies for disaster management.

Defence News

“Tejas Mk1A Successfully Completes Maiden Flight with Advanced Features”

  • Tejas Mk1A, the advanced variant of Light Combat Aircraft, completed its inaugural flight from the Hindustan Aeronautics Limited (HAL) facility in Bengaluru on March 28, 2024.
  • Equipped with cutting-edge electronic RADAR, warfare, and communication systems, the Mk1A boasts enhanced combat capabilities.
  • Notable features include Active Electronically Scanned Array Radar, Electronic Warfare Suite, beyond-visual-range missiles, and Air-to-Air refueling capability.
  • The successful flight marks a significant milestone in India’s indigenous defense manufacturing program, showcasing advancements in aerospace technology.

Hindustan Aeronautics Limited:

  • Founded: 23 December 1940, Bengaluru
  • Head: Shri Mihir Kanti Mishra

Sports News

“PR Sreejesh and Camila Caram Named Co-Chairs of FIH Athletes Committee”

  • The International Hockey Federation (FIH) has appointed PR Sreejesh from India and Camila Caram from Chile as co-chairs of the FIH Athletes Committee.
  • PR Sreejesh, a former captain and goalkeeper of the Indian men’s hockey team, brings extensive experience and leadership to the role.
  • Camila Caram, representing Chile, adds diversity and international perspective to the committee’s leadership.
  • This appointment reflects FIH’s commitment to promoting athlete representation and involvement in decision-making processes within the organization.

About FIH:

Books and author News

“Zoological Survey of India Releases Comprehensive Guide on Indian Lepidoptera”

  • The Zoological Survey of India (ZSI) publishes a book titled ‘An illustrated guide to the Lepidoptera of India’, covering taxonomic procedures, family characters, diversity, and distribution.
  • Authored by Dr. Dhriti Banerjee, Director of ZSI, along with Dr. Navneet Singh, Dr. Rahul Joshi, and Dr. P. C. Pathania, scientists of ZSI, and Dr. R.C. Kendrick, a Lepidoptera expert from Hong Kong.
  • The book provides detailed insights into the taxonomy, characteristics, diversity, and distribution of Lepidoptera species found in India.

Zoological Survey of India:

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