24 February 2024 Current Affairs in English

24 February 2024 Current Affairs

24 February 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 24 February 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 24 February 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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24 Feb Daily Current Affairs 2024

24 February 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 24 February 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.

Central Excise Day 2024

Central Excise Day, celebrated annually on February 24th, commemorates the enactment of the Central Excise and Salt Act, 1944. This day honors the dedication and contributions of the Central Board of Indirect Taxes and Customs (CBIC) and its officers in facilitating trade and industry while ensuring revenue collection for the country’s development.

As India continues to grow and evolve economically, the role of the CBIC and the importance of this day will continue to be paramount. By celebrating the achievements of the past and looking toward the future, this day continues to inspire dedication and commitment to building a stronger and more prosperous India. Read the complete article here.

India’s First Gati Shakti Research Chair was established at IIM Shillong

The Union Minister of Ports, Shipping & Waterways (MoPSW) and Ayush, Shri Sarbananda Sonowal attended the Memorandum of Understanding (MoU) signing ceremony between the MoPSW and the Indian Institute of Management (IIM) to set up India’s first ‘Gati Shakti Research Chair’.

The Chair will spearhead high-quality academic research on multimodal logistics with a North-East focus: building knowledge on multimodal logistics development strategies and practice in the North-Eastern region, facilitating knowledge and innovation for logistical capacity building in the region.

The chair also aims to foster collaboration with global experts in creating and developing knowledge & expertise while strengthening the links between the multimodal logistics research and capacity-building activities with key stakeholders such as the logistics industry, government bodies, local authorities, and other partners and associations.

SJVN commissions 50 MW Gujrai Solar Power Station in Uttar Pradesh

SJVN Limited, a Mini Ratna, Category-I and Schedule ‘A’ Central public sector enterprise under the administrative control of the Ministry of Power, Government of India, has begun the successful commercial operation of its 50 MW Gujrai Solar Power Station in Kanpur Dehat, Uttar Pradesh. With this milestone, the total installed power capacity of SJVN stands at 2,277 MW.

PFC ties with Italian export credit agency SACE to boost India-Italy cooperation

Power Finance Corporation (PFC) on Friday said it has become the first government firm to collaborate with SACE, an Italian export credit agency, to boost the cooperation between the two countries. PFC is partnering with SACE, the export credit agency of Italy, for an innovative ECA-backed financing facility under its ‘Push Strategy’ initiative, according to a statement.

Tatung Padi (IRS) appointed as Director of the Skill Development Ministry

Tatung Padi has been appointed as Director in the Ministry of Skill Development and Entrepreneurship. According to an order issued from the Department of Personnel & Training on Feb 23, Padi has been appointed to the post under the Central Staffing Scheme for five years from the date of taking over charge of the post until further orders.

Bhupinder Kumar (IAS) appointed as DCR of J&K and Ladakh

The Central Government has approved the appointment of Bhupinder Kumar (IAS) for the post of Director of Census Operations /Director of Citizen Registration (DCR) (Deputy Secretary level) of Jammu & Kashmir and Ladakh. According to an order issued from the Department of Personnel & Training on Feb 22, Kumar has been appointed to the post under the Central Staffing Scheme.

Renewable Energy capacity to rise 170 GW by March 2025: ICRA

India’s installed Renewable Energy (RE) capacity, excluding large hydro plants, is estimated to increase to 170 GW by March 2025 from a level of 135 GW in December 2023, according to rating agency ICRA. “ICRA estimates that the rise in the RE capacity over the next 5-6 years is estimated to enhance the share of RE plus large hydro in the all-India electricity generation from 23% in FY24.

This can be made possible through the use of wind and solar power projects complemented with energy storage systems, it suggested. According to the statement, ICRA expects the installed RE capacity, excluding hydro energy, in India to increase to about 170 GW by March 2025 from 135 GW as of December 2023.

ARCs’ bad loan portfolio to touch Rs 1.6 trillion by FY25, says CRISIL

The assets under the management of Asset Reconstruction Companies (ARCs) are expected to grow at eight to 9% to touch the Rs 1.5 trillion mark by March 2024. It may expand at a slower pace of 5-8% in the next financial year (FY25), where the asset base could reach the Rs 1.6 trillion level, according to the CRISIL-Assocham report.

In FY23, the industry growth was at 17%, largely driven by a large transaction of stressed assets being acquired from a bank by an ARC. However, excluding the same, growth was modest at 7%. The report said the growth in the future would largely be driven by higher acquisitions, though capped by quicker resolutions expected in retail assets.

Zurich Insurance to acquire 70% stake in Kotak General for Rs 5,560 crore

Private sector lender Kotak Mahindra Bank on Friday informed the exchanges that Zurich Insurance will acquire a 70% stake in the bank’s general insurance arm, Kotak Mahindra General Insurance, for Rs 5,560 crore, in a single tranche. In February 2024, the bank received approval from the Competition Commission of India (CCI) for the 70% stake sale.

In November 2023, the bank announced the sale of a 51% stake in Kotak Mahindra General Insurance to Zurich Insurance for Rs 4,051 crore through a combination of fresh capital infusion and share purchase, followed by a 19% stake sale within three years.

Kalyani Steels signs MoU with Odisha govt to set up manufacturing unit

Kalyani Steel Ltd on Friday signed an MoU with the Odisha government to set up a manufacturing facility with an investment of Rs 11,750 crore. The project for manufacturing titanium metal, aerospace and automotive components, and advanced specialty steel at Gajamara in the Dhenkanal district will create 10,000 job opportunities, the company said in a statement.

India’s GDP to grow at around 6.75-6.8% in FY25, says Bank of Baroda

The Bank of Baroda (BoB) has projected India’s gross domestic product (GDP) to grow at around 6.75 to 6.8% in FY25 and 6.8% for the current financial year in a report released on 23 Feb. The IMF has projected the Indian economy to grow at 6.7% for the current fiscal, upgrading the estimates by 40 basis points from its previous forecast in Oct 2023.

RBI allows banks, and non-banks to issue PPIs for public transport systems

The Reserve Bank of India (RBI) on Friday allowed banks and non-banks to issue prepaid payment instruments (PPIs) for public transit services such as metro, buses, rail, waterways, tolls, and parking. The regulator amended the guidelines for PPIs for mass transit systems (MTS). It said such PPIs could be issued without a “know your customer” (KYC) verification of the holder.

Razorpay reaches $150 billion in TPV, launches Payment Gateway 3.0, AI chatbot & more

Razorpay, a significant fintech company, has reached an annualized Total Payment Volume (TPV) of $150 billion. The company also unveiled many new features, including an AI chatbot. The company also introduced ‘Payment Gateway 3.0’, making it India’s only payment gateway that addresses the payment trip and the entire buyer journey.

World Understanding and Peace Day 2024

Every year on February 23, World Understanding and Peace Day is celebrated. This day serves to remember Rotary International’s inaugural convention. This gathering of businessmen was intended to be a place where their backgrounds didn’t matter, which set off a series of developments that eventually resulted in the creation of Rotary International.

US achieves first moon landing in half-century with private spacecraft

A spacecraft built and flown by Texas-based company Intuitive Machines landed near the moon’s south pole on Friday. It is the first U.S. touchdown on the lunar surface in more than half a century and the first ever achieved by the private sector. The company and NASA commentators said, the uncrewed six-legged robot lander, dubbed Odysseus, touched down at about 6:23 p.m. EST.

Sunil Sharma (IRS) appointed as Director in the Department of School Education & Literacy

Sunil Sharma (IRS) has been selected for the appointment as Director in the Department of School Education & Literacy under the Ministry of Education. According to an order issued by the Department of Personnel & Training (DoPT), Sharma has been selected for the appointment under the Central Staffing Scheme (CSS) for five years.

Nitin Jain (IRS) as Deputy Secretary in the Ministry of Steel

Indian Revenue Service (IRS) Nitin Jain has been selected for the appointment as Deputy Secretary in the Ministry of Steel. He has been selected for the appointment under the Central Staffing Scheme for a period up to March 15, 2025 (combined tenure of four years at ex-cadre deputation and CSS deputation posts put together) or until further orders, whichever.

Sureshwar Singh Bonal appointed as Director in Heavy Industries Ministry

Sureshwar Singh Bonal (CWES) has been selected for the appointment as Director in the Ministry of Heavy Industries. According to an order issued from the Department of Personnel & Training (DoPT) on February 23, Banal has been selected for the appointment under the Central Staffing Scheme for five years. Bonal is a Central Water Engineering Service (CWES) officer.

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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