14 March 2024 Current Affairs in English

14 March 2024 Current Affairs

14 March 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 14 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 14 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.

Download Free February 2024 BOLT PDF (Current Affairs)

14th March Daily Current Affairs 2024

14 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 14 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.

Pi Day 2024

Pi Day 2024 falls on Thursday, March 14th. This annual celebration of the mathematical constant π (pie) promises to be another exciting day filled with fun, education, and, of course, pie!

Pi (π), pronounced “pie,” is a mathematical constant representing the ratio of a circle’s circumference to its diameter. It’s a special number because, no matter how big or small the circle, this ratio will always be the same. This makes it a fundamental constant in various fields like mathematics, physics, engineering, and even art. Read the complete article here.

World Kidney Day 2024

World Kidney Day 2024: World Kidney Day is a worldwide effort to make people aware of how crucial our kidneys are for our health.

World Kidney Day is a team effort led by the International Society of Nephrology (ISN) and the International Federation of Kidney Foundations – World Kidney Alliance (IFKF-WKA). Read the complete article here.

International Day of Action for Rivers 2024

International Day of Action for Rivers 2024: Every year on March 14th, people around the world observe the International Day of Action for Rivers. This special day, now in its 25th year, focuses on protecting our rivers, celebrating their importance, and making more people aware of why they matter so much. It’s a day to remind everyone that if we want to keep our rivers safe and use them wisely, we need to work together, no matter where we live. People in communities that rely on rivers for their way of life need to join forces and tell leaders that rivers are crucial. Read the complete article here.

Heavy Industries Ministry Announces Electric Mobility Promotion Scheme 2024

The Heavy Industries Ministry has announced the Electric Mobility Promotion Scheme 2024 to accelerate the adoption of Electronic Vehicles (EVs) in India. The Ministry said that a total outlay of 500 crore rupees will be implemented for four months under the scheme. It will run from 1st of the next month until July.

It added that only electric two-wheelers (e-2W) and electric three-wheelers (e-3W) will be eligible under the scheme, including registered e-rickshaws, e-carts, and L5 automobiles. Furthermore, only EVs fitted with advanced batteries will be subject to incentives to encourage the growth of advanced technologies.

India signed a 181 million dollar loan with ADB to improve urban livability and mobility in Ahmedabad

India has signed an 181 million dollar loan with the Asian Development Bank (ADB) to improve urban livability and mobility in Ahmedabad.

The loan will fund development in areas transitioning from rural to urban, called per-urban areas. The Project will also support 10 junction improvements along the existing Sardar Patel Ring Road to improve the connectivity of the peri-urban area

Under the Ahmedabad Peri-urban Livability Improvement Project, 166 km of water distribution network, 126 km of climate-resilient stormwater drainage, 300 km of sewerage systems, and four sewage treatment plants will be constructed.

The Ministry said that this will benefit the urban poor, women, and migrant workers through improved urban services and urban governance.

‘Agray’ and ‘Akshay’ ships launched to augment Indian Navy’s anti-submarine operations

To augment the Indian Navy’s anti-submarine operations, two ships ‘Agray’ and ‘Akshay’ were launched on Wednesday nearly five years after the Ministry of Defence signed a contract with Kolkata-based PSU GRSE for the production of eight such ASW Shallow Water Crafts. Agray and Akshay – named after erstwhile Abhay Class Corvettes Agray and Akshay of the Indian Navy – are the 5th and 6th SWC.

The ASW SWC ships are 77.6 meters long and 105 meters wide with a displacement of 900 tonnes and endurance of over 1800 NM.

In the last year, 3 indigenously built warships/submarines for the Indian Navy have been delivered and a total of 9 warships were launched.

Perfios secures $80 million funding, set to become 2nd unicorn of 2024

Fintech-focussed software-as-a-service firm Perfios said it has secured $80 million in funding from Teachers’ Venture Growth (TVG), a late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan.

With the fresh investment, the company’s new valuation will cross the $1 billion mark, said sources, which makes Perfios the second unicorn of 2024.

A unicorn is a term used to describe startups or companies valued at $1 billion or more.

RBI bars Federal, South Indian Bank from issuing co-branded credit cards

Following the directions by the RBI private sector lenders Federal Bank and South Indian Bank stopped issuing co-branded credit cards to new customers on account of regulatory deficiencies, according to exchange filings. In a separate exchange filing, Federal Bank informed that post a letter from the RBI the lender has stopped issuance due to regulatory deficiencies.

South Indian Bank said it will not onboard new customers on their co-branded credit cards until it fully complies with directions under RBI Master Direction on Credit Card and Debit Card issuance. South Indian Bank has one co-branded credit card in partnership with State Bank of India (SBI), which is available in two variants SimplySAVE and Platinum.

On March 7, the RBI released a Master Direction on “Amendment to the Master Direction — Credit Card and Debit Card — Issuance and Conduct Directions, 2022. According to the notification, co-branded cards should explicitly indicate that the card has been issued under a co-branding arrangement with clear mention of the card issuer.”

The government allows RBI to import gold without paying import levies

India has allowed its central bank to import gold without paying import levies.

Gold importers from the world’s second-biggest gold consumer need to pay basic customs duty and Agriculture Infrastructure and Development Cess (AIDC). As of September 2023, the Reserve Bank of India held 800.79 metric tonnes of gold, including gold deposits of 39.89 tonnes.

RBI imposes ₹1.40 cr monetary penalty on Bank of India

The Reserve Bank of India has imposed a monetary penalty of ₹1.40 crore on the Bank of India for non-compliance with certain directions issued by it on ‘Interest Rate on Deposits’, ‘Customer Service in Banks’, and ‘Interest Rate on Advances’, among others. It has also imposed a penalty of Rs 29.55 lakh on private sector lender Bandhan Bank for non-compliance with certain directions

The penalty on Bank of India has been imposed for non-compliance with the RBI’s directions related to ‘interest rate on deposits’, ‘customer service in banks’, ‘interest rate on advances’, and contravention of provisions of Credit Information Companies Rules, 2006.

RBI also said a penalty of Rs 13.60 lakh has been imposed on Indostar Capital Finance Ltd for non-compliance with the ‘Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016’ and with certain provisions of KYC directions.

RBI unveils draft guidelines on climate-related financial disclosures

RBI unveiled draft guidelines on the disclosure framework on climate-related financial risks for regulated entities. These guidelines are set to apply to a wide array of REs, including scheduled commercial banks, Tier IV primary urban co-operative banks, foreign banks operating in India, all Indian financial institutions (AIFIs), and top and upper layer NBFCs.

REs have been requested to furnish their comments and feedback by the end of April. These guidelines aren’t unanticipated, given prior developments, such as the RBI’s joining the Central Banks and Supervisors Network for Greening the Financial System as a member in April 2021, the release of a paper on climate risk in July 22, and the Monetary Policy Statement in Feb 2023.

The disclosures by REs are expected to cover four thematic pillars: governance, strategy, risk management, metrics, and targets, aligning with the global framework of the Task Force on Climate-related Financial Disclosures (TCFD).

Aurionpro Solutions inks a 6-year contract with the State Bank of India

Mumbai-based tech company Aurionpro Solutions has secured a Rs 100-crore contract from the State Bank of India for the license, implementation, and support of its transaction banking platform, iCashpro+. The company will have to deliver the license and implementation in phases over 12 months, along with maintenance and support for six years.

Sidbi gets $24.5 million from Green Climate Fund for its Avaana Sustainability Fund

Small Industries Development Bank of India (Sidbi) has received $24.5 million from the Green Climate Fund (GCF) for its maiden anchored project `Avaana Sustainability Fund (ASF)’ valued at $120 million.

GCF, a pivotal component of the historic Paris Agreement, is the world’s largest climate fund.

Sidbi gets $24.5 million from Green Climate Fund for its Avaana Sustainability Fund

As per the Nationally Determined Contribution (NDC) concerning the UN’s Framework Convention on Climate Change (UNFCCC), India aims to cut emissions intensity of its GDP by 45% by 2030, from the 2005 level and achieve about 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.

Union Minister Rajeev Chandrasekhar Inaugurates India’s 1st FutureLABS center at C-DAC Thiruvananthapuram

Union Minister Rajeev Chandrasekhar inaugurated India’s first FutureLABS center in C-DAC Thiruvananthapuram. This center, namely, “Centre for Semiconductor Chips & Systems for Strategic Electronics”, will be playing a crucial role in catalyzing an ecosystem for next-generation chip design, manufacturing, and research.

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.

Oliveboard Live Courses & Mock Test Series