Daily Current Affairs and GK | 16 March 2024

Topic: Environment and Ecology

1. In the illegal trade in shark body parts, Tamil Nadu topped.

• According to a report by the World Wide Fund for Nature-India (WWF-India) and TRAFFIC, almost 16,000 kg of shark fins were seized between January 2010 to December 2022.
• A recent TRAFFIC report ‘Netted in illegal wildlife trade: Sharks of India’ raised alarm about India's illegal shark trade. It also highlighted ongoing threats and conservation concerns.
• Out of the total, 65% of the illegal trade in shark body parts has occurred in Tamil Nadu. It is followed by other states such as Karnataka, Gujarat, Kerala, and Maharashtra.
• The parts of the shark's body were exported to Singapore, Hong Kong, Sri Lanka, and China.
• Shark fins are the most sought-after shark product used to make 'shark-fin soup’.
• The demand for shark fins and meat is a major driver of the global shark fishery.
• Out of the total 160 shark species in India, only 26 sharks and rays have been given the highest protection status under the amended Wild Life (Protection) Act 1972.
• Appendix I and II of CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora) have been listed in Schedule IV of the Act.

Topic: Indian Economy

2. India's growth estimate for FY25 has been increased by Fitch Ratings to 7% from an earlier estimate of 6.5%.

• Additionally, it has projected growth in the current fiscal year to reach 7.8%.
• This estimate is little higher than the government forecast of 7.6%.
• According to the agency, real GDP would increase by 6.5% in FY26 as the rate of activity growth slows down to follow the trend in FY25.
• The agency said we expect an easing in economic momentum in the last quarter of the current fiscal year, as GDP growth has exceeded 8% for the last three quarters.
• Fitch reduced its 2024 prediction for China from its previous projection of 4.6% to 4.5%.
• Additionally, it observed that in the latter months of 2023, consumer price inflation increased.
• By year's end, it expects headline inflation to gradually drop to 4%.
• Moody's Ratings also updated its growth prediction for India for the 2024 calendar year earlier last week from 6.1% to 6.8%.

Topic: State News/ Rajasthan

3. Rajasthan government will distribute free seeds of millets and coarse grains to farmers.

• Rajasthan government has taken this decision in a bid to boost millet production.
• It has decided to provide free mini kits of maize seeds to 1.2 million farmers.
• It has also decided to provide free mini kits of pearl millet (bajra) seeds to 800,000 farmers.
• Rajasthan government will provide free mini kits of mustard seeds to 700,000 farmers and moong seeds to 400,000 farmers.
• Rajasthan government will provide sorghum (jowar) and moth seeds to 100,000 farmers.
• The distribution of free seed kits will start from next financial year.
• Rajasthan contributes 26% of the nation's total millet production.
• In Rajasthan, the two main millet crops grown are pearl millet and sorghum.
• Forty-one percent of the bajra produced in the country comes from Rajasthan.
• Rajasthan Millet Promotion Mission was started by Rajasthan government in 2022-23.
• A sum of Rs 40 crore was allocated for the establishment of 100 primary processing facilities by farmers, entrepreneurs, and non-profit organizations.

Topic: Personality in News

4. Admiral Laxminarayan Ramdas passed away at the age of 91.

• He was former Indian Navy chief. He served as 13th Chief of Naval Staff between December 1990 and September 1993.
• He was honoured with Raman Magsaysay award in 2004.
• He was honoured with this award for his efforts towards demilitarising and denuclearising South Asia.
• He is known for playing heroic role during the Indo-Pakistan War of 1971.
• In December 1971, he was the commanding officer of an Indian Naval unit of the eastern fleet.
• He received Vir Chakra, Param Vishisht Seva Medal, Ati Vishisht Seva Medal and the Vishisht Seva Medal.
• He was also associated with the Aam Aadmi Party (AAP) as an internal Lokpal.

Topic: Infrastructure and Energy

5. On 15 March, ‘Ethanol 100' automotive fuel launched by Petroleum Minister Hardeep Singh Puri in New Delhi.

• Under this initiative, the availability of Ethanol 100 is ready at select 183 retail petrol outlets across five states – Maharashtra, Karnataka, Uttar Pradesh, New Delhi, and Tamil Nadu.
• Ethanol 100 fuel has the potential to transform the transportation sector and reduce our dependence on fossil fuels.
• In 2023, the Prime Minister announced E20 (20% ethanol blended fuel), and the E20 availability has increased to 12,000 outlets in under a year.
• These ethanol blending initiatives have increased farmers' income, increased rural employment, and reduced CO2 emissions equivalent to planting 1.75 crore trees.
• With 131 dedicated ethanol plants, Oil marketing companies (OMCs) have signed long-term agreements.
• These plants are expected to add an annual production design capacity of 745 crore litres.
• Ethanol100, a clean and green alternative to gasoline, is a mixture of 92 to 94% ethanol, 4 to 5% motor spirit, and 1.5% co-solvent highly saturated alcohol to provide colour to the flame.
• It claims low emissions of greenhouse gases and pollutants and helps combat climate change and improve air quality in our communities.
• Ethanol 100 proves ideal for high-performance engines with its high-octane rating typically between 100-105, ensuring better efficiency and power output while reducing environmental impact.

Topic: National News

6. National Time Protocol for dissemination of IST inaugurated by Union Minister Piyush Goyal.

• On March 15, the National Time Protocol (NTP) for dissemination of Indian Standard Time was inaugurated by Union Consumer Affairs Minister Piyush Goyal in Mumbai.
• This will provide uniform and accurate time information with millisecond accuracy and will also increase cyber security.
• The public can access it via time.nplindia.org or time.nplindia.in.
• Timing infrastructure at the Regional Reference Standards Laboratory (RRSL) at Faridabad and Ahmedabad was also virtually inaugurated by Shri Goyal.
• India is the first country to implement a time distribution system.
• Atomic clocks will be installed by the end of the year in RRSLs in Bengaluru, Bhubaneswar, Guwahati, and Delhi.
• Earlier the time was taken from the Global Positioning System (GPS) but from now on it will have our own system with the help of Navigation with Indian Constellation (NavIC).
• All mobile operators across the country will have to sync time with this system.

Topic: Defence

7. 'Nausena Bhawan' has been inaugurated by Defence Minister Rajnath Singh.

• It is the new state-of-the-art headquarters of the Indian Navy at the Delhi Cantonment.
• The Navy has set up its first independent headquarters in Delhi.
• The Navy previously operated from 13 different locations.
• The headquarters building comprises three wings and four stories.
• The building complex integrates solar generation systems and advanced building materials.
• It is equipped with a state-of-the-art integrated building management system.
• It has got a green rating IV under the Integrated Habitability Assessment.

Topic: International Appointments

8. Mohammad Mustafa has been appointed as new prime minister of the Palestinian Authority.

• Palestinian President Mahmoud Abbas has appointed Mustafa.
• Mustafa replaces PM Mohammed Shtayyeh.
• Along with his government, PM Mohammed Shtayyeh resigned in February.
• The Palestinian Authority (PA) was established thirty years ago under the interim peace agreement called Oslo Accords.
• It carries out limited governance over parts of the occupied West Bank.
• It may also play an important role in administering Gaza after the end of the conflict with Israel.
• PA lost control of Gaza to Hamas in 2007. Hamas is the Islamist movement that controls Gaza.

Topic: Government Schemes and Initiatives

9. Government rolled out a pilot program to provide timely medical care for road accidents.

• Under this pilot program, cashless treatment up to a maximum of Rs 1.5 lakh per accident per person will be provided for a maximum of 7 days from the date of the accident.
• The government said this initiative is part of the commitment to reduce fatalities due to road accidents and the legal mandate under section 162 of the Motor Vehicles Act, 1988.
• This pilot program has been developed under the Ministry of Road Transport and Highways and started in Chandigarh.
• This initiative will apply to all road accidents caused by the use of motor vehicles on any category of road.
• Claims raised by hospitals for providing treatment will be reimbursed from the Motor Vehicle Accident Fund.
• This program will be implemented through an IT platform combining the functionalities of the eDAR application of MoRTH and the Transaction Management System (TMS) of NHA.

Topic: State News/ Maharashtra

10. Maharashtra CM Eknath Shinde has launched India’s first LNG-powered bus.

• Chief Minister Eknath Shinde inaugurated India's first Liquefied Natural Gas (LNG)-powered bus. It will be operated by the Maharashtra State Road Transport Corporation.
• Maharashtra State Road Transport Corporation announced that 5000 of its diesel vehicles will be converted to LNG alternative fuel vehicles in phases.
• The conversion of buses from diesel to LNG will reduce pollution by 10%, and fuel costs will also reduce.
• MSRTC has signed an MoU with M/s Kings Gas for the conversion of buses to LNG.
• MSRTC will set up LNG distribution facilities at 90 depots across the state.

Topic: National News

11. On 15 March, a New EV policy approved by the Indian Government to boost Tesla's market entry plans.

• In the new EV policy, the government's focus will be on domestic EV manufacturing.
• The policy is also designed to attract investments in the e-vehicle sector by reputed global EV manufacturers.
• Under the policy, a company will have to invest a minimum of Rs 4150 crore and there is no maximum limit on investment.
• The company will have to start its plant in 3 years.
• Within 5 years, the company also has to reach 50% domestic value addition (DVA).
• To increase domestic value addition (DVA) during manufacturing, the government aims to achieve a localization level of 25% by the third year and 50% by the fifth year.
• Customs duty of 15% (as applicable to CKD units) will be applicable on vehicles with a minimum CIF value of US$ 35,000 and above for a total period of 5 years.
• This will require the manufacturer to set up manufacturing facilities in India within a period of 3 years.
• If Tesla comes, first a plant will have to be set up, and then production will start.
• The bank guarantee of the companies will be returned once 50% DVA is reached.

Topic: Important Days

12. National Vaccination Day 2024: 16 March

• Every year on March 16, National Immunization Day is observed in India.
• Vaccination Day aims to raise awareness about the importance of immunisation and how it can prevent the spread of infectious diseases.
• The theme of National Vaccination Day 2024 is "Vaccines Work for Everyone".
• The day was first commemorated in 1995, the year India launched its Pulse Polio Program.
• World Immunization Week is celebrated every year in the last week of April.
• In 1978, the Expanded Programme on Immunization (EPI) was established. The program was renamed as the Universal Immunization Program (UIP) in 1985.
• Mission Indradhanush:
  • Mission Indradhanush was launched in December 2014 to ensure full immunization with all available vaccines for children up to two years of age and pregnant women.
  • The mission aims to achieve the target of the Sustainable Development Goal of Ending preventable child deaths by 2030.

Topic: National News

13. Election Commission released electoral bond data on its website.

• The Election Commission uploaded the data on electoral bonds to its website.
• The data was provided by the State Bank of India on March 12th, after a directive from the Supreme Court.
• As per the data, the Bharatiya Janata Party (BJP) received electoral bonds worth ₹6,060 crore from April 12, 2019 to January 24, 2024.
• The Trinamool Congress encashed bonds worth ₹1,609 crore. Congress came in third with ₹1,422 crore.
• The Biju Janata Dal got ₹775 crore, the DMK ₹639 crore, and the AIADMK ₹6.05 crore.
• Aam Aadmi Party received ₹66 crore through electoral bonds, while Bharat Rashtra Samithi (BRS) encashment stood at ₹1,214 crore.
• Future Gaming and Hotel Services, with ₹1,368 crore, remain the top donors through electoral bonds.
• Megha Engineering and Infrastructure Ltd. and Qwik Supply Chain purchased electoral bonds worth ₹966 crore and ₹410 crore, respectively.
• Electoral bond scheme was launched in 2017. This scheme allowed individuals and corporate entities to contribute unlimited funds to political parties through Electoral bonds.
• These bonds can be purchased from the State Bank of India (SBI).

Topic: Banking System 

14. RBI has imposed a penalty of Rs 1.40 crore on the Bank of India.

• The RBI has imposed a penalty for non-compliance with its directions on ‘Interest Rate on Deposits’, ‘Customer Service in Banks’, ‘Interest Rate on Advances', and others.
• The penalty is also for non-compliance with RBI’s directions on ‘Central Repository of Information on Large Credits (CRILC) - Revision in Reporting’, and ‘Membership of Credit Information Companies (CICs)’.
• The penalty is also for contravention of provisions of the Credit Information Companies Rules, 2006 (ClC Rules).
• A monetary penalty of Rs 29.55 lakh has been imposed by the RBI on Bandhan Bank.
• The RBI has imposed this penalty for non-compliance with directions relating to the interest rate on deposits.
• The RBI also placed a penalty of Rs 13.60 lakh on Indostar Capital Finance.