02 March 2024 Current Affairs in English

02 March 2024 Current Affairs

02 March 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 02 March 2024 Current Affairs is essential for students who are preparing for exams, especially competitive exams, as it forms an important part of the syllabus. The importance of the 2 March 2024 Current Affairs lies in its ability to help students enhance their general knowledge, improve their reading and comprehension skills, and develop their critical thinking abilities.

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2nd March Daily Current Affairs 2024

02 March 2024 Current Affairs also provides students with insights into issues such as politics, economics, and social issues that are important for their overall development as informed citizens. Regularly reading and analyzing the 2 March 2024 Current Affairs not only helps students ace their exams but also prepares them for their future roles as responsible and well-informed citizens of society.

Paytm Payments Bank fined Rs 5.49 crore for violating money laundering norms

RBI Slaps ₹5.4 Crore Fine on Paytm Payments Bank

The Financial Intelligence Unit-India has imposed a monetary penalty of 5.49 crore rupees on Paytm Payments Bank Ltd concerning violations of its obligations under the Prevention of Money Laundering Act. Finance Ministry said in a statement that FIU-IND initiated a review of Paytm Payments Bank Ltd on receipt of specific information from law enforcement agencies.

These include organizing and facilitating online gambling. The money generated from these illegal operations was routed and channeled through bank accounts maintained by these entities with Paytm Payments Bank Ltd. Earlier, FIU IND issued a compliance Show Cause Notice to the bank for its violations.

After considering the written and oral submissions of the bank, FIU-IND found that the charges against Paytm were substantiated based on the voluminous material available on record. In the exercise of his powers under Section 13 of PMLA, the Director, of FIU IND imposed a penalty of 5 crore 49 lakh rupees on the bank.

Gross GST collections rise 12.5% to Rs 1.68 lakh crore in February

A total of 1,68,337 crore rupees gross GST revenue has been collected during February. This marks a robust 12.5 percent increase compared to that in the same month last year. This growth was driven by a 13.9 percent rise in GST from domestic transactions and an 8.5% increase in GST from import of goods.

GST revenue net of refunds for February this year is 1.51 lakh crore rupees which is a growth of 13.6% over that for the same period last year. As of February this year, the total gross GST collection for the current fiscal year stands at 18.40 lakh crore rupees, which is 11.7% higher than the collection for the same period in 2022-23.

India’s GDP shines in Q3, grows at 8.4%; FY24 estimate pegged at 7.6%

India’s GDP registered a robust growth of 8.4% on an annual basis in the third quarter (October-December), as against 8.1% in the previous quarter, data released by the National Statistical Office showed. The number for Q1 and Q2 FY24 has also been revised upwards to 8.2% (against 7.8%) and 8.1% (against 7.6%) respectively.

Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated at Rs 172.90 lakh crore, against the First Revised Estimates (FRE) of GDP for the year 2022-23 of Rs 160.71 lakh crore. The growth in real GDP during 2023-24 is estimated at 7.6% as compared to 7.0% in 2022-23.

DPIIT and the World Bank jointly organize the National Workshop on Logistics Efficiency Enhancement

The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry in collaboration with the World Bank Group organised a National Workshop on Logistics Efficiency Enhancement in New Delhi that brought together the logistics sector community to brainstorm and identify factors affecting logistics performance and areas of improvement.

INDIA – MALAYSIA BILATERAL MARITIME EXERCISE SAMUDRA LAKSAMANA

Exercise Samudra Laksamana is underway from at/ off Visakhapatnam. Indian Naval Ship Kiltan & Royal Malaysian Ship KD Lekir are participating in the 3rd edition of this exercise which has harbor professional interactions followed by the operational phase at sea. The exercise aims to strengthen bonds and enhance interoperability between the Indian and Royal Malaysian Navy.

Prime Minister Modi inaugurates Bharat Tex 2024

The Prime Minister, Shri Narendra Modi inaugurated Bharat Tex 2024, one of the largest-ever global textile events to be organized in the country at Bharat Mandapam in New Delhi. The 4-day textile event is considered one of the largest-ever global textile events to be organized in India with more than 100 countries participating.

World Seagrass Day 2024

In May 2022, the General Assembly adopted proclaimed 1 March as World Seagrass Day. The resolution highlights the urgent need to raise awareness at all levels and to promote and facilitate actions for the conservation of seagrasses to contribute to their health and development, bearing in mind that enhancing ecosystem services and functions is important for SDG.

The theme of World Seagrass Day 2024 is “Healthy Seagrass, Healthy Planet.”

American beverage giant PepsiCo launches new globe logo worldwide

American beverage giant Pepsi, on Friday, rolled out its new globe logo worldwide, as part of its first major global redesign in 14 years.

In India, the company unveiled the new globe logo at the Gateway of India, Mumbai, with a digital artwork that introduced the updated color palette for the brand – electric blue and black.

India’s February manufacturing PMI rises to 56.9, the highest in 5 months

The manufacturing sector gathered momentum in February on the back of expansion in new export orders and easing of pricing pressures as the headline Purchasing Managers Index (PMI) climbed to a five-month high. It touched 56.9 during the month from 56.5 in January. At 56.9, the February manufacturing PMI is above the flash estimate of 56.7 released on February 22.

A PMI number greater than 50 indicates expansion in business activity. A number less than 50 shows a contraction. The rate of expansion is also judged by the difference from the mid-point (50) and also by the previous month’s data. It is an economic indicator, which is derived after monthly surveys of different companies. The index shows trends in manufacturing and services.

Policybazaar is now a composite insurance broker after IRDAI’s final nod

Policybazaar Insurance Brokers (Policybazaar), has received the nod from the Insurance Regulatory and Development Authority of India (Irdai) to upgrade its license from a direct insurance broker to a composite insurance broker.

A composite insurance broker can also sell reinsurance products besides general and life insurance products.

IPS officer Daljit Singh Chaudhary appointed as new director general of NSG

The Centre appointed 1990 batch IPS officer, Daljit Singh Chaudhary as the director general of National Security Guard. Chaudhary, currently the DG of Sashastra Seema Bal, has been given the additional charge of heading the NSG. Also known as black cats, NSG is India’s counter-terrorism force. It is a federal counter-deployment force against terrorism and anti-hijack.

A bill for the creation of this Organization was introduced in the parliament in August 1986 and it received the permission of the President on September 22, 1986, and the National Security Guard (NSG) formally came into being from that date.

RBI issues revised norms to streamline bill payment process

RBI issued revised norms to streamline the process of bill payments, enable greater participation, and enhance customer protection. The central bank has issued the revised ‘Reserve Bank of India (Bharat Bill Payment System) Directions, 2024’ as it felt there was a need to update the existing regulations given significant developments in the payments landscape.

These directions will apply from April 1, 2024, to banks, NPCI Bharat BillPay Limited & other non-bank payment system participants. Bharat Bill Payment System is an integrated bill payment platform that enables payment or collection of bills through multiple channels using various payment modes, like UPI, internet banking, cards, cash, & prepaid payment instruments

Bharat Bill Pay Central Unit (BBPCU), the updated regulations said, will set the rules and regulations governing participation criteria and system operations, in addition to the technical standards for participation in the system. The Biller Operating Unit (BOU) will be responsible for onboarding billers to BBPS and ensuring compliance with requirements.

The Customer Operating Unit (COU) has been tasked to provide digital or physical interface to their customers, and also ensure that customers have access to all billers onboarded on BBPS.

Shubham Mittal

Shubham Mittal is a renowned current affairs writer and expert in government exam preparation, inspiring readers with insightful articles and guiding aspirants with his expertise.

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