Current Affairs March 7, 2024

Current Affairs March 7, 2024


Current Affairs March 7, 2024

National News

PM Fasal Bima Yojana (PMFBY) Enrollment Surges by 27% in FY 2023-24; Over 57 Crore Farmer Applications in Eight Years”

  • Enrollment under PMFBY increased by 27% in the financial year 2023-24.
  • Over 57 crore farmer applications have been enrolled in the past eight years of PMFBY implementation.
  • More than 23 crore farmer applicants have received claims during this period.
  • Farmers paid over 31 thousand crore rupees as premiums, and claims exceeding one lakh 55 thousand crore rupees have been disbursed.
  • The Ministry highlights a significant ratio, stating that for every 100 rupees of premium paid by farmers, they have received about 500 rupees as claims.

PM Fasal Bima Yojana (PMFBY)

  • Objective: Agricultural insurance scheme to provide financial support to farmers in case of crop failure due to natural calamities, pests, or diseases.
  • Implementation: Launched on 18th February 2016, administered by the Ministry of Agriculture and Farmers Welfare.
  • Coverage: Includes all farmers, including tenant farmers and sharecroppers, across India.
  • Premium Sharing: Nominal premium paid by farmers, rest subsidized by central and state governments. Premium rates vary for different crops.

“DoT Unveils ‘Chakshu’ – Digital Intelligence Portal to Combat Cybercrimes and Financial Frauds”

  • Department of Telecommunications (DoT) introduces ‘Chakshu,’ a Digital Intelligence Portal.
  • Objective: Aimed at curbing cybercrimes and financial frauds in the digital space.
  • ‘Chakshu’ facility is designed for advanced monitoring and analysis of digital activities to enhance cybersecurity.
  • Strengthens efforts to safeguard digital infrastructure and counteract evolving cyber threats.
  • Addressing challenges related to digital intelligence, fostering a secure digital ecosystem.

Department of Telecommunications (DoT)

  • Formation: Established in 1985, it is part of the Ministry of Communications in the Government of India.
  • Objective: Responsible for formulating policies, regulations, and guidelines for the telecommunications sector in India.
  • Key Functions:
    • Formulating and implementing telecom policies.
    • Allocating and managing spectrum resources.
    • Licensing and regulation of telecom services.
    • Promoting research and development in the telecom sector.

Scheme News

Union education minister Dharmendra Pradhan launches project ODISERV in Odisha

  • Union minister Dharmendra Pradhan, Ministry of Skill Development and Entrepreneurship (MSDE) launched project ODISERV at Gangadhar Meher University in Sambalpur, Odisha, aiming to equip young graduates of Odisha for employment opportunities in the financial service sector
  • The project ODISERV is the inaugural skill development initiative by the National Skill Development Corporation (NSDC) and Bajaj Finserv Ltd

Odisha state:

Ranks and Reports

India ranks 113 In the world banks women, business and the law 2024 index

  • According to the 10th edition of Women, business and the Law 2024 report released by the World Bank Group India has climbed to 113th place out of 190 countries in the index with a score of 74.4% for the 1st time, WBL assesses the gap between legal reforms and actual outcomes for women in 190 economies
  • The index shows that in India women enjoy 60% of the legal rights granted to men, which is lower than the global average of 64.2%
  • Despite challenges India outperforms its South Asia counterparts where women enjoy 45.9% of the legal protections provided to men

World bank

  • President- Ajay Banga
  • Headquarters- Washington, DC, USA
  • Established in 1944

Appointment News

Tamas Sulyok, former head of Hungary’s constitutional court (CC) and a lawyer was appointed as the president of Hungary by receiving 134 votes in parliament

About Hungary:

  • Prime Minister- Viktor Orban
  • Capital- Budapest
  • Currency- Forint

Agreement news

Airbus Joins Forces with IIM Mumbai to Advance Aviation Training Standards

  • Airbus establishes a strategic collaboration with the prestigious Indian Institute of Management Mumbai (IIM Mumbai).
  • Aims to deliver top-notch aviation training, emphasizing the development of industry-ready skills for aviation professionals.
  • Marks pivotal step in elevating the standards of aviation training, contributing to the competence and preparedness of individuals in the aviation sector.


WB approved USD 452 million loan to boost connectivity in Assam

  • World Bank has approved a new project worth USD 452 million to improve connectivity for over 1.8 million people living in rural areas of Assam
  • the Assam resilient rural bridges program will strengthen the resilience and management of roads and bridges to help people living in 1739 village

World bank

  • President- Ajay Banga
  • Headquarters- Washington, DC, USA
  • Established in 1944

Reserve Bank of India suspended the function of JMFPL

  • the RBI has barred Mumbai (Maharashtra) based JM Financial Products Ltd (JMFPL) from financing against shares and debentures including sanction and disbursal of loans against initial public offering (IPO) of shares with immediate effect
  • RBI imposed the ban in the exercise of its powers under section 45L (1)(b) of the Reserve Bank of India Act 1934

Sports News

“Khelo India Games Medallists Gain Eligibility for Government Jobs, Announces Union Sports Minister Anurag Singh Thakur”

  • The Department of Personnel and Training, along with the Sports Ministry revised eligibility criteria, extending government job eligibility to Khelo India Games medal winners.
  • Categories Included: Medallists in Khelo India Youth, University, Para, and Winter Games now qualify for government employment.
  • Announcement: Union Sports Minister Anurag Singh Thakur shares the progressive update, emphasizing increased opportunities for athletes excelling in Khelo India competitions.
  • Incentive for Sports Excellence: Aiming to boost sports participation and performance, the policy change recognizes the achievements of medal winners at different Khelo India events.

Haryana’s Yatin Bhaskar Duggal Secures Top Honour at National Youth Parliament Festival 2024″

  • Yatin Bhaskar Duggal (Haryana) clinches first prize, followed by Vaishna Pitchai (Tamil Nadu) in second place and Kanishka Sharma (Rajasthan) in third at the National Youth Parliament Festival 2024.
  • Lok Sabha Speaker Om Birla, addressing the concluding session, commends the youth for their thinking capability, innovation, and dedication, emphasizing their pivotal role in realizing the vision of ‘Viksit Bharat’ by 2047.
  • The event serves as a platform for young minds to showcase their oratory skills, express innovative ideas, and engage in constructive discussions on national issues.
  • Om Birla highlights the importance of harnessing the youth’s potential, envisioning their contributions to the nation’s development and progress.
  • The Speaker underscores the youth’s crucial role in shaping the future of India, aligning with the aspiration for a developed and empowered nation by the year 2047.

“R Praggnanandhaa Secures Victory in Prague Chess Festival; Abdusattorov Maintains Lead Despite Loss”

  • Indian Grandmaster R Praggnanandhaa secures a notable win against Nodirbek Abdusattorov of Uzbekistan in the sixth round of the Prague International Chess Festival 2024 Masters.
  • Praggnanandhaa’s victory helps him retain the fourth position in the tournament standings.
  • Despite the loss, Abdusattorov maintains his position as the sole leader in the Prague Chess Festival.

Science and tech

“AIM and Meta Unite to Launch Frontier Technology Labs, Paving the Way for Student Innovation”

  • Atal Innovation Mission (AIM) and Meta collaborate to establish Frontier Technology Labs (FTLs) in strategically vital schools.
  • Objective: The partnership aims to democratize access to upcoming technologies, fostering a culture of innovation and technological exploration among students.
  • Advanced Facilities: FTLs, upgraded versions of Atal Tinkering Labs, will feature cutting-edge infrastructure, offering students hands-on experience in Artificial Intelligence, Augmented & Virtual Reality, Block chain, Cybersecurity, Robotics, 3D Printing, and Internet of Things.
  • Meta’s Contribution: Meta’s collaboration signifies its dedication to empowering the youth by providing them access to transformative technologies, contributing to India’s technological growth

Atal Innovation Mission (AIM)

  • Launched: January 15, 2016
  • By: Prime Minister Narendra Modi
  • Affiliation: Part of NITI Aayog, the policy thinks tank of the Indian government


  1. Culture of Innovation: Foster innovation and entrepreneurship across students, educators, and communities in India.
  2. Atal Tinkering Labs (ATLs):
    • Establish labs in schools nationwide.
    • Equipped with cutting-edge technology.
    • Encourage students to experiment, innovate, and develop problem-solving skills.

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