15 March 2024 Current Affairs in English

15 March 2024 Current Affairs

15 March 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 15 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 15 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.

15th March Daily Current Affairs 2024

15 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 15 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.

World Consumer Rights Day 2024

World Consumer Rights Day 2024

World Consumer Rights Day happens every March 15 and is a big deal worldwide. It’s a day to make sure people like you know about your rights when you buy things. Consumer rights mean you have the right to know important stuff about the things you buy, like if they’re good quality, how much they cost, and if they’re safe.

“Fair and Responsible AI for Consumers” is the timely theme for World Consumer Rights Day observed annually on March 15th. As artificial intelligence increasingly shapes products and services, the theme presses for ethical AI that respects consumer rights. Read the complete article here.

Mumbai ends eight-year drought, clinch 42nd Ranji Trophy title

Domestic powerhouse Mumbai ended their eight-year title drought by lifting the coveted Ranji Trophy for a record-extending 42nd time. The iconic Wankhede Stadium witnessed Mumbai’s triumph as they defeated a resilient Vidarbha by 169 runs on the fifth and final day of a gripping summit clash. Tanush Kotian – who got the Player of the Series award.

Ajinkya Rahane and Akshay Wadkar captained the Mumbai side captained the Vidharba side. Musheer Khan won the Man of the Match award in the Ranji Trophy final. Musheer became the youngest Mumbai batsman to register a century in a Ranji Trophy final breaking the record of legendary Sachin Tendulkar.

Newly appointed EC Gyanesh Kumar & Sukhbir Singh Sandhu assume charge

The newly-appointed Election Commissioners Gyanesh Kumar and Sukhbir Singh Sandhu took charge of the office. They were appointed election commissioners by the selection panel chaired by Prime Minister Narendra Modi. The two vacancies were created in the Election Commission after Anup Chandra Pandey’s retirement in February and Arun Goel’s resignation recently.

The Constitution of India has vested in the Election Commission of India the superintendence, direction, and control of the entire process for conduct of elections to Parliament and Legislature of every State and the offices of President and Vice-President of India. The Election Commission of India is a permanent Constitutional Body.

ECI is an autonomous constitutional authority responsible for administering Union and State election processes in India. The body administers elections to the Lok Sabha, Rajya Sabha, and State Legislative Assemblies in India, and the offices of the President and Vice President in the country. Originally the commission had only a Chief Election Commissioner.

It currently consists of a Chief Election Commissioner and two Election Commissioners. The President appoints a Chief Election Commissioner and Election Commissioners. They have a tenure of six years, or up to the age of 65 years, whichever is earlier. Rajiv Kumar took charge as the 25th Chief Election Commissioner on 15th May 2022.

India ranks 134 out of 193 in UNDP’s ’22 HDI, a notch higher than 2021

Average life expectancy in India was 67.7 years in 2022 – up from 62.7 a year earlier – and gross national income (GNI, per capita) has increased to $6951, a jump of 6.3% in 12 months, the United Nation’s Human Development Index, or HDI, the report has said. The HDI report also indicated increases in expected years of schooling (to 12.6 per individual).

Overall, the country has an HDI score of 0.644 in 2022, which ranks it 134 of 193 in the UN’s report for 2023/24 – ‘Breaking the Gridlock: Reimagining Cooperation in a Polarised World’. This places it in the ‘medium human development’ category.

Significantly, India’s HDI score for 2022 saw an increase after a drop the year before and a flat trend in the years prior. India’s 1990 HDI was 0.434, making the 2022 score a positive change of 48.4%. ‘Remarkable…’: UN Hails India Life Expectancy, Per Capita Income Rise.

Gender Inequality Index also said India had demonstrated “progress in reducing gender inequality”, flagging a Gender Inequality Index, or GII, of 0.437, which is better than the global average.

In the GII list, which ranks countries on three key dimensions – reproductive health, empowerment, and labor market participation – India places 108 of 166 nations.

India, Bhutan, and Bangladesh are all in the Medium Human Development category. Switzerland has been ranked number one. Nepal (146) and Pakistan (164) have been ranked lower than India.

India, ADB Sign $23 Million Loan for Fintech Ecosystem Development

The Central Government and the Asian Development Bank (ADB) have signed a 23 million dollar loan agreement at the Gujarat International Finance Tec-City. The project will establish an International Fintech Institute (IFI) to strengthen fintech education, boost start-up success rates, and drive fintech research and innovation.

The project’s focus on market-driven fintech skills programs, creating an enabling environment for private sector investment, and enhancing collaboration between industry, skills development institutes, and development partners will promote holistic growth of the fintech ecosystem in India.

World Consumers Rights Day 2024

Every year, World Consumer Rights Day is observed on March 15. On March 15, 1962, President John F. Kennedy spoke before the US Congress and addressed consumer rights. This incident marked the first time that a world leader spoke of consumer rights. In 1983, the first World Consumer Rights Day was observed. Since then, the United Nations has recognized the special day.

2024 Theme: ‘Fair and Responsible AI for Consumers.’

Eris buys India formulation biz of Biocon Biologics for Rs 1,242 crore

Eris Lifesciences, a chronic therapy-focused drug firm, has acquired the India-branded formulation business of Biocon Biologics, a subsidiary of Biocon, for Rs 1,242 crore. This includes portfolios in insulin, oncology, and critical care. The deal would enable Eris to enter the Rs 30,000 crore injectable market, positioning it as a major player in the insulin segment.

Paytm gets the nod to continue UPI via the State Bank of India, and three others

The National Payments Corporation of India (NPCI) allowed One97 Communications (OCL), which operates the brand Paytm, to function as a third-party application provider (TPAP) on the Unified Payments Interface (UPI).

Four banks — State Bank of India (SBI), Axis Bank, HDFC Bank, and YES Bank — will act as payment service providers (PSPs) to Paytm.

Paytm will operate as a TPAP under a multi-bank model. The NPCI said YES Bank would operate as a merchant acquiring bank for existing and new UPI merchants for OCL. Currently, @paytm is a virtual payment address (VPA) for the company’s users. It is a unique identifier that customers use to send and receive money on UPI.

A PSP bank, either through its application or a TPAP, onboards and registers customers on UPI, linking customers’ bank accounts to their respective UPI identifications.

A TPAP is a service provider that participates in UPI through a PSP bank, according to the NPCI, which runs the UPI.

Wholesale inflation eases to a four-month low of 0.2% in February

The headline wholesale price index (WPI)-based inflation eased to 0.2% in February from 0.27% in the preceding month, remaining in positive territory for the fourth consecutive month.

The data showed that lower WPI inflation in February was driven by a deceleration in price rises for fuel and manufactured products, even though food inflation accelerated to 6.9%

The prices of manufactured products, which have a weighting of 64.2% in the index, remained in deflation (-1.27%) for the twelfth consecutive month in February. The contraction in fuel prices (-1.59%) continued for the tenth consecutive month, led by the contraction in prices of high-speed diesel and Petrol.

Fitch Ratings ups GDP growth forecast to 7% for FY25 on-demand push

Global rating agency Fitch Ratings raised India’s growth forecast for the next financial year (FY25) to 7% from 6.5% estimated earlier, citing robust domestic demand and sustained growth in business and consumer confidence.

It also expects the growth in the current financial year to clock 7.8%, slightly higher than the government’s forecast of 7.6%.

IIT Delhi, Israel Aerospace Industries sign CSR agreement on applied research

Israel Aerospace Industries (IAI) has signed its first-ever Corporate Social Responsibility (CSR) agreement with the Indian Institute of Technology (IIT) Delhi to collaborate on applied research. The cooperation includes collaborative projects, training, and research consultancy. Israel Aerospace Industries (IAI) is a global leader in defense and commercial aerospace.


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