5th March 2024 Daily Current Affairs
International Affairs
1. Moody’s upgrades India’s 2024 GDP forecast to 6.8%
- Moody’s has raised its GDP forecast for India in 2024 to 6.8%, signaling a positive economic outlook.
- The global credit rating agency’s optimistic stance is grounded in India’s position as the fastest-growing economy among G20 nations, driven by robust growth prospects and policy continuity.
- The agency expects the Reserve Bank of India (RBI) to maintain its policy rate in the coming months, providing additional support for economic stability and growth momentum.
National Affairs
2. Piyush Goyal launches ‘e-Kisan Upaj Nidhi’ for Farmers’ Fair Prices
- Union Minister Piyush Goyal launched the ceremony of ‘e-Kisan Upaj Nidhi’ (Digital Gateway) of the Warehousing Development and Regulatory Authority (WDRA) in New Delhi.
- The ‘e-Kisan Upaj Nidhi’ initiative will ease the farmers’ warehousing logistics with the help of technology and aid the farmers in receiving fair prices for their produce.
- The initiative with its simplified digital process can ease the procedure of farmers’ storage at any registered WDRA warehouse.
National Affairs
3. Govt. permits export of 64 thousand 400 tonnes of onion to UAE & Bangladesh
- According to notifications of the Directorate General of Foreign Trade, Onion export of 50 thousand tonnes is permitted to Bangladesh and 14 thousand 400 tonnes is allowed to the UAE through National Cooperative Exports Limited.
- The Government has also permitted exports of 30 thousand metric tonnes of non-basmati white rice to Tanzania and 80 thousand tonnes of broken rice to Djibouti and Guinea Bissau.
National Affairs
4. Scindia inaugurates country’s 1st Green Hydrogen Plant in Stainless Steel
- Union Steel Minister Jyotiraditya Scindia virtually inaugurated India’s 1st Green Hydrogen Plant in the Stainless Steel Sector at Jindal Stainless Limited, Hisar.
- This plant will be the world’s first off-grid Green Hydrogen plant for the stainless steel industry and the world’s first Green Hydrogen plant with rooftop and floating solar.
- This project will reduce carbon emissions by around two thousand 700 Metric Tonnes per annum.
Sports
5. Indian shuttler B Sai Praneeth announces retirement from international badm
- Indian shuttler B Sai Praneeth (31-year) has announced his retirement from international badminton.
- Praneeth battled nagging injuries since the Olympic Games in Tokyo and decided to hang his boots due to that. Praneeth confirmed the news on his social media accounts.
- In his 24-year-long career, he won a World Championships bronze medal and represented India at the Tokyo 2020 Olympics.
National Affairs
6. Singapore to raise salary criteria for foreign executives and professionals
- Singapore has announced that the country is set to raise the salary criteria for foreign executives and professionals that companies can hire starting next year.
- Starting in January next year, foreigners seeking employment passes, typically reserved for well-paid professionals, will need to earn at least 5,600 Singapore dollars per month, an increase from the current requirement of 5,000 Singapore dollars.
National Affairs
7. Rajnath Singh launches ADITI scheme
- Defence Minister Rajnath Singh launched the Acing Development of Innovative Technologies with iDEX (ADITI) scheme to promote innovations in critical and strategic defence technologies.
- Under the scheme, start-ups are eligible to receive grant-in-aid of up to Rs 25 crore for their research, development and innovation endeavours in defence technology.
- The scheme was launched during the DefConnect 2024 event.
Banking & Finance
8. RBI to Launch Interoperable Payment System for Internet Banking in 2024
- An interoperable payment system for internet banking transactions, as envisaged in RBI’s Payments Vision 2025 is likely to be launched this year.
- The necessary approvals have been given to NPCI Bharat BillPay Limited, adding that the system will facilitate quicker settlement of funds for merchants.
- Internet Banking is a preferred channel for payments like income tax, insurance premiums, mutual fund payments, e-commerce, etc,.
Banking & Finance
9. RBI Directs IIFL Finance to Cease Gold Loans Due to Serious Lapses
- The Reserve Bank of India has directed IIFL Finance Limited to stop sanctioning or disbursing gold loans or assigning/ securitising/ selling any of its gold loans.
- RBI said the company can, however, continue to service its existing gold loan portfolio through the usual collection and recovery processes.
- RBI found serious deviations in assaying and certifying purity and net weight of the gold at the time of sanction of loans.
National Affairs
10. Centre launches ‘DIP’ & ‘Chakshu’ portals to check cyber crime
- Union Minister for Communications Ashwini Vaishnav launched the Digital Intelligence Platform (DIP) and CHAKSHU – Report Suspected Fraud Communication Facility on Sanchar Saathi Portal at a function in New Delhi.
- Digital Intelligence Platform (DIP) developed by the Department of Telecommunications aims at facilitating coordination among the Stakeholders to Curb the Misuse of Telecom Resources in Cybercrime and Financial Fraud.
Important Dates
11. Dissociative Identity Disorder Awareness Day 2024: March 5th
- Dissociative Identity Disorder Awareness Day is celebrated on March 5 every year.
- Every year, Dissociative Identity Disorder Awareness Day is observed to raise awareness about the difficulties faced by people with Dissociative Identity Disorder and what we can do to improve their standards of life.
- Dissociative Identity Disorder can happen as a result of childhood trauma, past traumatic experiences and abuse.
National Affairs
12. Youth Affairs Ministry organize finals of National Youth Parliament Festiva
- The Youth Affairs and Sports Ministry organizes the finals of the National Youth Parliament Festival in the Central Hall of the Parliament in New Delhi.
- The NYP is being organised this year based on the theme of ‘Young Voices: Engage and Empower for Nation’s Transformation’
- The NYPF is being organised from the 9th of February to the 6th of March across the country.
- This Youth Parliament has been organised at three levels covering 785 Districts of the country.
