Daily Current Affairs February 27 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Pension Fund Regulatory and Development Authority Announces Revisions to National Pension System Trust (NPST) and Pension Fund Regulations to Enhance Governance

• The Pension Fund Regulatory and Development Authority (PFRDA) has notified the National Pension System Trust (Second Amendment) Regulations 2023 and Pension Fund (Amendment) Regulations 2023 .
• The amendments to NPS Trust Regulations aim to simplify various provisions related to the appointment of Trustees, their terms and conditions, conducting Board meetings, and the appointment of the CEO of NPS Trust.
• Amendments to Pension Fund Regulations aim to simplify governance provisions aligning with the Companies Act, 2013, and enhance disclosure requirements by Pension Funds.

The other notable amendments include:

• Roles of Sponsors Clarified: The amendments bring clarity to the roles of Sponsors of Pension Funds and Pension Funds themselves, ensuring compliance with the ‘fit and proper person’ criteria.
• Additional Board Committees: Pension Funds are now required to constitute additional Board committees such as the Audit Committee and Nomination & Remuneration Committee.
• Inclusion of “Pension Fund” in Name Clause: There’s a mandate for existing pension funds to include the term “Pension Fund” in their name within 12 months.
• Annual Report Enhancements: The annual reports of schemes managed by pension funds will now include a Directors’ responsibility statement, enhancing transparency and accountability.
• The above amendments are in line with the Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business.

About PFRDA : 

• Established : 2003
• Headquarters : New Delhi, Delhi
• Chairman : Deepak Mohanty
• PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.
• It operates under the jurisdiction of the Ministry of Finance in the Government of India.

HDFC Bank Successfully Raises $300 Million through Inaugural Sustainable Finance Bond Issue                                      

• Largest private sector lender HDFC Bank has raised $300 million in its maiden sustainable finance bond issue.
• The country’s biggest private lender by market capitalisation priced its three-year sustainability bond at a yield of 5.196%.
• This is 95 basis points (bps) over the 3-year U.S. Treasury yield, sharply lower than the initial guidance of a 125-bps spread.
• The money raised is part of the $750 million bond-raise that will be listed on the GIFT City.
• The $300 million sustainable finance bonds have been raised for a tenure of three years at a spread of 0.95 per cent over the US treasury, while the remaining $450 million will be repaid in 5 years at 1.08 per cent over the US Treasury.
• The bank stated that proceeds of the sustainable finance bond will be utilised for funding green and social loans in accordance with the sustainable finance, while the rest will be deployed for financing general banking activities.

About HDFC Bank :

• Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World

State Bank of India Funds Appeals to Reserve Bank of India for Increase in Industry’s Overseas Investment Limit

• SBI Funds Management, India’s largest fund house with assets under management (AUM) of ₹8.51-lakh crore, has approached the Reserve Bank of India (RBI) to increase the overseas investment limit due to growing investor interest and India’s comfortable forex position.

Key Highlights :

• Current Limit: According to current RBI rules, domestic mutual funds can invest up to $7 billion in overseas stocks, with an additional $1 billion allowed in exchange-traded funds.
• Limit Set in 2007-08: The current investment limit for the industry was established in 2007-08 and has not been revised despite significant economic growth and a substantial increase in investor appetite over the years.
• Forex Reserve Growth: When the $7 billion limit was set, India’s forex reserves were around $300 billion. However, the forex reserves have more than doubled since then, reaching $600 billion.

CURRENT AFFAIRS: NATIONAL NEWS

Global meet urges India to augment pulses production to meet nutritional needs

• The Global Pulses Conference, an annual meeting of pulses producers, processors and traders, suggested that India augment the production of pulses to meet the nutritional requirements.
• The two-day conference is jointly organised by the National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) and the Global Pulse Confederation (GPC) in New Delhi.
• Last decade pulses production had grown by 60% from 171 lakh tonnes in 2014 to 270 lakh tonnes in 2024.
• India had become self-reliant in chickpeas (chana) and many other pulses crops, with only a slight deficiency remaining in pigeon peas (tur) and black gram.
• India is aiming to achieve self-sufficiency in pulses by 2027, focusing on expanding cultivation and supplying new varieties of seeds.
• Global Pulse Confederation (GPC) membership includes 24 national associations and over 500 private sector members.
• It is based in Dubai and licensed by the Dubai Multi Commodity Centre (DMCC).
• India is the largest producer (25% of global production), consumer (27% of world consumption) and importer (14%) of pulses in the world.

India hikes windfall tax on petroleum crude, diesel

• The Indian government has increased the windfall tax on the sale of domestic crude oil marginally from ₹3,200 to ₹3,300 per tonne and has also reintroduced a ₹1.5 per litre special additional excise duty (SAED) on the export of diesel.
• The revised rates shall come into force on the 16th day of February 2024.
• Earlier this month, the government had hiked windfall tax on domestically produced crude oil to ₹3,200 per tonne from ₹1,700 per tonne.
• From July 2022,
• India imposed a windfall tax on crude oil producers, and extended the levy on exports of gasoline, diesel and aviation fuel as private refiners wanted to sell fuel overseas to make gains from robust refining margins instead of selling locally.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Dubai Launches 5-Year Multiple Entry Visa for Indian Tourists to Boost Travel and Economic Relations

• In a bid to promote economic collaborations and encourage tourism and business ties, Dubai has introduced a five-year multiple-entry visa for Indian tourists.
• The introduction of the multiple-entry visa aims to strengthen the relationship between Dubai and India, making Dubai a more accessible and appealing destination for Indian nationals.

Key Highlights :

• According to the Dubai Department of Economy and Tourism (DET), the visa issued within 2 to 5 working days, allows a 90-day stay, extendable once for a similar period, with a total stay not exceeding 180 days in a year.
• Through this initiative, tourists can leverage multiple entries and exits, providing operational flexibility for business engagements, leisure travel, and seamless connectivity.
• According to DET, Dubai experienced a surge in tourism from India, welcoming 2.46 million overnight visitors in 2023.
• This signifies a substantial increase from the 1.84 million tourists in 2022, surpassing the pre-pandemic figure of 1.97 million visitors in 2019.
• Bader Ali Habib, Regional Head of Proximity Markets, DET, highlighted the long-standing relationship with India and the significant contribution of Indian tourists to Dubai’s record-breaking tourism sector in 2023.
• India, with a remarkable 34% year-on-year growth, maintains its position as the leading source market for Dubai.

CURRENT AFFAIRS : STATE NEWS

Haryana Chief Minister Manohar Lal Khattar Initiates ‘Savera’ Initiative for Early Detection of Rising Breast Cancer Cases in Women

• Haryana Chief Minister Shri Manohar Lal, inaugurated the ‘Savera’ program initiated by the Medanta Foundation in collaboration with the Health Department in Gurugram, aimed at early detection and prevention of breast cancer, a growing concern among women.
• This groundbreaking initiative marks the first of its kind in the country, focusing on detecting breast cancer in its early stages among women.

Key Highlights :

• In its initial phase, the program will be launched at the Civil Hospital in Sector-10 of Gurugram, the Polyclinic in Sector-31, and the Primary Health Center in Wazirabad.
• The program capitalizes on the naturally heightened tactile sensitivity possessed by visually impaired individuals.
• The launch of Savera coincides with the establishment of the National Cancer Institute at AIIMS Jhajjar, equipped with 1,000 beds.
• This comprehensive approach signifies Haryana’s commitment to providing accessible and advanced cancer care to its citizens.
• Khattar stated that cancer often goes undiagnosed until its later stages,ranging from stage 2 to stage 4, impacting various parts of the body.
• Similarly, breast cancer is also one of those cancers.
• About 90,000 women across the country lose their lives every year due to breast cancer.

About Haryana :

• Governor : Bandaru Dattatreya
• Chief Minister : Manohar Lal Khattar
• Capital : Chandigarh
• National Park : Kalesar National Park
• Wildlife Sanctuary : Bhindawas Wildlife & Bird Sanctuary, Chhilchhila Wildlife Sanctuary

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

India-born Economist Geeta Batra Appointed as World Bank’s Global Environment Facility’s First Female Director

• Geeta Batra, a distinguished economist born in India (New Delhi), has been appointed as the Director of the Independent Evaluation Office of the World Bank’s Global Environment Facility (GEF).
• She is the first woman from a developing country to hold this position.
• Her nomination for the role received unanimous approval during the 66th GEF Council Meeting in Washington on February 9, 2024.
• Priorities: Batra outlined her priorities, which include delivering sound evaluative evidence on GEF’s results and performance, maintaining leadership in environmental evaluation, and enhancing the skills of IEO teams.
• Partnerships and Knowledge Sharing: Her role involves building partnerships with multilateral and bilateral agencies, foundations, and networks, and sharing knowledge on effective environmental strategies.
• Batra currently serves as the Chief Evaluator & Deputy Director for Evaluation at the GEF’s Independent Evaluation Office, affiliated with the World Bank.

About GEF :

• The GEF has been a significant player in the environmental sector since the Rio Earth Summit in 1992, providing substantial grants and co-financing for projects addressing global environmental concerns.
• It is a multilateral environmental fund that provides grants and blended finance for projects related to biodiversity, climate change, international waters, land degradation, persistent organic pollutants (POPs), mercury, sustainable forest management, food security, and sustainable cities in developing countries.

CURRENT AFFAIRS : DEFENCE NEWS

5th edition of the India-Japan joint exercise ‘Dharma Guardian’ kicks off in Rajasthan                   

• The 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and the Japan Ground Self Defence Force commenced at Mahajan Field Firing Ranges in Rajasthan.
• The Exercise is scheduled to be conducted from 25th February to 9th March 2024.
• Exercise ‘DHARMA GUARDIAN’ is an annual exercise and conducted alternatively in India and Japan.

Participating Forces :

• The contingent of both sides comprises 40 personnel each.
• The Japanese contingent is being represented by troops from the 34th Infantry Regiment and the Indian Army contingent is being represented by a Battalion from the Rajputana Rifles.
• Aim : To foster Military Cooperation and enhance combined capabilities to execute joint operations in semi-urban environments under Chapter VII of the United Nations Charter.

About the Exercise :

• Exercise Focus : The Exercise would focus on a high degree of physical fitness, joint planning, joint tactical drills and basics of special arms skills.
• Tactical Drills : Tactical drills to be practised during the Exercise will include establishing of Temporary Operating Base, creating an Intelligence, Surveillance and Reconnaissance (ISR) Grid, setting up Mobile Vehicle Check Post, executing Cordon and Search Operations in a hostile village, Heliborne operations and House Intervention Drills.
• Weapon and Equipment Display : A Weapon and Equipment Display will also be organised showcasing ‘Atmanirbhar Bharat’ initiative and the growing defence industrial capability of the country.
• Visit of Lieutenant General TOGASHI Yuichi : Lieutenant General TOGASHI Yuichi, Commanding General, Eastern Army, Japan Ground Self Defence Force is also scheduled to visit India on the sidelines of “Exercise DHARMA GUARDIAN”.
• The General officer will visit Mahajan Field Firing Ranges on 3rd March 2024 and witness Combat Shooting demonstration, Special Heliborne Operation (SHBO) & House Intervention Drills.
• Interoperability and Camaraderie : The Exercise will also facilitate developing interoperability, bonhomie and camaraderie between troops of both sides.
• Enhanced Defense Cooperation : This will enhance the level of defence cooperation, further fostering bilateral relations between the two friendly nations.

Note :

• The 4th edition of joint military exercise, “EX DHARMA GUARDIAN”, between India and Japan is being conducted at Camp Imazu in Shiga province, Japan from 17 February to 02 March 2023.
• The 1st edition of the Dharma Guardian exercise was held in 2018 at Counterinsurgency Warfare School, Vairengte (Mizoram), India from 01 November to 14 November 2018.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

IIT Guwahati Establishes India’s Largest Drone Pilot Training Organization

• Indian Institute of Technology (IIT) Guwahati has launched the largest Remote Pilot Training Organization (RPTO) in India in collaboration with EduRade, with the aim of promoting the advancement of drone technology.

Key Highlights :

• Infrastructure and Capacity: The Pilot Training Organisation spans across 18 acres and has the capability to fly 9 medium-class drones simultaneously.
• Training Courses : The RPTO will initially introduce a DGCA-Certified Medium Class Drone Pilot Training Course which is tailored to enhance the skills of youth in the North East and other regions of India.
• It will also cater specifically to women from self-help groups (SHGs) engaged in agriculture, identified under the Namo Drone Didi Yojna.
• Certification : Upon completion of the course, students will be awarded a Remote Pilot Certificate (RPC) sanctioned by the Directorate General of Civil Aviation (DGCA), Government of India (GoI).
• This certification will authorise them to legally operate drones and pursue a career as Certified Drone Pilots.
• IIT Guwahati is currently hosting a groundbreaking drone training initiative tailored for diverse defense personnel.
• Specialized Training for Defense Personnel : This innovative three-month training program is specifically designed for Junior Commissioned Officers (JCOs) and other officers, aiming to modernise the operations of the armed forces.
• The program emphasises comprehensive training on various aspects of drone technologies, including pilot training, software operations and applications.
• Participants of the programme will benefit from an exhaustive curriculum which will help them for post-retirement career options.

Amazon Web Services Collaborates with T-Hub and Minfy to Launch India’s First Space Tech Accelerator Program                            

• Amazon Web Services (AWS) India announced its launch of an accelerator programme for space startups called AWS Space Accelerator: India.
• It is a technical, business, and mentorship opportunity designed to foster startups focused on space technology, and accelerate their development, with support from T-Hub, and

Key Highlights :

• Partnerships and MOU: This initiative follows a Memorandum of Understanding (MoU) signed between AWS, ISRO, and IN-SPACe in September the previous year.
• The partnership aims to nurture startups in the space tech sector and support innovation in the field.
• Duration and Support: The 14-week accelerator program will offer dedicated business resources, expertise, and guidance on technology and business capabilities. Startups will leverage AWS to build, grow, and scale their missions.
• Eligibility and Benefits: The program is open to both early-stage and mature startups based in India that support the space sector. Qualifying startups can receive benefits such as up to US$100,000 in AWS credits, guidance from experts at ISRO, IN-SPACe, and AWS, and support from T-Hub and Minfy, an AWS Premier Partner.
• Registration Deadline: Interested startups must register by March 17th, 2024, to participate in the program.
• Focus Areas: Startups will learn about space domain technologies and applications, leveraging space data, and building scalable solutions using cloud computing, data analytics, machine learning, and generative artificial intelligence (AI).

CURRENT AFFAIRS: RANKING AND INDEX

IFFCO ranked first among top 300 cooperatives globally

• IFFCO, one of the leading fertiliser players in the country, has been ranked first among top 300 cooperatives in the world.
• Indian Farmers Fertiliser Cooperative Ltd (IFFCO) has again been ranked as top cooperative among top 300 cooperatives in the world, sustaining its position from the last year.
• The ranking is based on the ratio of turnover over Gross Domestic Product (GDP) per capita.
• It relates to the turnover of the enterprise to the wealth of the country according to the 2023 edition of the 12th Annual World Cooperative Monitor (WCM) report published by International Cooperative Alliance (ICA).
• IFFCO has also improved its ranking to 72nd in overall turnover ranking from 97th position in last financial year.
• IFFCO MD Uday Shankar Awasthi.
• The International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (EURICSE) launched the 2021 edition of the World Cooperative Monitor during an international webinar on January 25, 2024.
• The World Cooperative Monitor is a project designed to collect robust economic, organizational, and social data about cooperatives worldwide

About ICA

• The International Cooperative Alliance (ICA) is the voice for cooperatives. worldwide.
• The International Cooperative Alliance is a non-profit international association established in 1895 to advance the cooperative social enterprise model.

CURRENT AFFAIRS: MOUS AND AGREEMENT

The National Industrial Corridor Development Program and IIT Delhi have signed a Memorandum of Understanding to work together on evaluating location optimality utilizing the PM GatiShakti Portal.

• National Industrial Corridor Development Corporation Limited (NICDC) under the Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India and the Foundation for Innovation and Technology Transfer at the Indian Institute of Technology, Delhi (FITT-IITD) signed a Memorandum of Understanding (MOU) at Vanijya Bhawan, New Delhi with an objective to evaluate optimality of locations for development of Greenfield Industrial Smart Cities in India leveraging the principles and framework of PM GatiShakti.
• Led by Shri Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), the collaboration marks an important move towards using advanced technology and research to strengthen India’s industrial infrastructure.
• This will also help both organisations leverage each other’s strengths in their respective domains.
• The MoU signing ceremony was attended by Col. Naveen Gopal, COO (FITT, IIT Delhi), Prof.Nomesh Bolia, Prof Sanjeev Deshmukh, Shri Deepak Gautam, Shri Pratik Badgujar and officials from NICDC.

Key Highlights

• NICDC and FITT-IITD collaborate to assess the optimal locations for developing greenfield industrial smart cities across India by leveraging the spatial & analytical data tools of PM GatiShakti, National Master Plan portal.
• This initiative aligns with India’s vision to emerge as a global manufacturing hub, emphasising the importance of data-driven, decision-making in sustainable futuristic urban planning and development.
• Under the MOU, FITT-IITD will leverage its technological prowess and research capabilities to analyse various factors influencing location optimality, including ease of business, living costs, logistic costs, multi-modal connectivity, ease of living index, living costs, potential of a particular industry(s), raw-material availability and sustainability.
• The comprehensive report produced from this collaboration will serve as a guiding framework for future urban planning decisions, facilitating the development of greenfield cities tailored to meet the evolving needs of industry and society.
• As India aims to become a $5 trillion economy, efforts like this show how important technology, research, and working together are in building a strong and lasting future. This is crucial to achieve the goal of “Viksit Bharat” (developed India).

CURRENT AFFAIRS: SPORTS NEWS

India bags 14 medals, including nine Golds at Archery Asia Cup 2024 in Baghdad, Iraq

• India finished the Archery Asia Cup 2024 with 14 medals, including nine golds, four silvers and one bronze in Baghdad, Iraq.
• In the women’s individual recurve category, three-time Olympian Deepika Kumari won the gold medal by defeating compatriot Simranjeet Kaur 6-2.
• Meanwhile, in an all-Indian final, Dhiraj Bommadevara beat Tarundeep Rai 7-3 to win the men’s recurve archery title.

Key Highlights

• India swept the top podiums in all the individual events, clinching top positions in both the men’s and women’s compound events.
• Parneet Kaur beat Iran’s Fatemeh Hemmati 138-135 for the women’s gold medal match while Prathamesh Jawkar beat team-mate Kushal Dalal 146-144 for the men’s title.
• Indian women’s recurve team comprising Simranjeet Kaur, Deepika Kumari and Bhajan Kaur defeated Uzbekistan 5-4 via shootout in a closely-fought final to clinch gold.
• Meanwhile, the trio of Dhiraj Bommadevara, Pravin Ramesh Jadhav and Tarundeep Rai ousted Bangladesh 6-2 to claim the gold.
• Dhiraj and Simranjeet also teamed up to win the mixed team recurve gold, blanking Bangladesh 6-0 in the final.

Abhay Singh, an Indian squash player, wins the Goodfellow Classic in Toronto.

• Indian Squash player Abhay Singh clinched the Goodfellow Classic PSA Challenger Tour Title in Toronto,
• In the finals, he defeated Elliott Morris Devred of Wales by 3-0.
• With this win, the Asian Games Gold medalist has won his eighth PSA World Tour title.
• Union Minister for Youth Affairs and Sports Anurag Thakur congratulated Abhay for his achievement and called his performance remarkable, throughout the tournament.

CURRENT AFFAIRS : OBITUARIES

Iconic Radio Broadcaster Known for His Melodious Voice, Ameen Sayani Passed Away

• Ameen Sayani, radio’s most recognised voice for millions of Indians who tuned into Binaca Geetmala every week, has passed away at the age of 91.

About Ameen Sayani :

• Ameen Sayani was born on 21 December 1932 in Bombay, Bombay Presidency, British India (now Mumbai, Maharashtra, India).
• He began his career as an English-language broadcaster and later transitioned to Hindi.
• He gained popularity through his radio program ‘Geetmala’, which played a pivotal role in popularising radio listening in India.
• During his six-decade career, he produced and presented over 54,000 radio programs and 19,000 voice-overs for advertisements and jingles.

CURRENT AFFAIRS: IMPORTANT DAYS

World NGO Day: 27th February

• World NGO Day 2024 is observed on the 27th of February 2024.
• World NGO Day was originally founded in 2009 by Marcis Liors Skadmanis, a social entrepreneur.
• However, it was observed for the first time on February 27, 2014.
• It’s a day set aside to honor all non-governmental and nonprofit organizations, recognizing their impact on the world.
• The holiday was officially declared back in 2010 by the 12 member countries of the Baltic Sea NGO Forum, recognized as a partner of the Council of the Baltic Sea States.
• However, it only received international recognition in 2014 from the European Union, the United Nations, and other international organizations.

Daily CA One-Liner: February 27

• The Global Pulses Conference, an annual meeting of pulses producers, processors and traders, suggested that India augment the production of pulses to meet the nutritional requirements
• The Indian government has increased the windfall tax on the sale of domestic crude oil marginally from ₹3,200 to ₹3,300 per tonne and has also reintroduced a ₹1.5 per litre special additional excise duty (SAED) on the export of diesel
• IFFCO, one of the leading fertiliser players in the country, has been ranked first among top 300 cooperatives in the world.
• National Industrial Corridor Development Corporation Limited (NICDC) under the Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India and the Foundation for Innovation and Technology Transfer at the Indian Institute of Technology, Delhi (FITT-IITD) signed a Memorandum of Understanding (MOU) at Vanijya Bhawan, New Delhi with an objective to evaluate optimality of locations for development of Greenfield Industrial Smart Cities in India leveraging the principles and framework of PM GatiShakti.
• India finished the Archery Asia Cup 2024 with 14 medals, including nine golds, four silvers and one bronze in Baghdad, Iraq.
• Indian Squash player Abhay Singh clinched the Goodfellow Classic PSA Challenger Tour Title in Toronto,
• The Pension Fund Regulatory and Development Authority (PFRDA) has notified the National Pension System Trust (Second Amendment) Regulations 2023 and Pension Fund (Amendment) Regulations 2023 .
• Largest private sector lender HDFC Bank has raised $300 million in its maiden sustainable finance bond issue.
• SBI Funds Management, India’s largest fund house with assets under management (AUM) of ₹8.51-lakh crore, has approached the Reserve Bank of India (RBI) to increase the overseas investment limit due to growing investor interest and India’s comfortable forex position.
• In a bid to promote economic collaborations and encourage tourism and business ties, Dubai has introduced a five-year multiple-entry visa for Indian tourists.
• Haryana Chief Minister Shri Manohar Lal, inaugurated the ‘Savera’ program initiated by the Medanta Foundation in collaboration with the Health Department in Gurugram, aimed at early detection and prevention of breast cancer, a growing concern among women.
• Geeta Batra, a distinguished economist born in India (New Delhi), has been appointed as the Director of the Independent Evaluation Office of the World Bank’s Global Environment Facility (GEF).
• The 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and the Japan Ground Self Defence Force commenced at Mahajan Field Firing Ranges in Rajasthan.
• Indian Institute of Technology (IIT) Guwahati has launched the largest Remote Pilot Training Organization (RPTO) in India in collaboration with EduRade, with the aim of promoting the advancement of drone technology.
• Amazon Web Services (AWS) India announced its launch of an accelerator programme for space startups called AWS Space Accelerator: India.
• Ameen Sayani, radio’s most recognised voice for millions of Indians who tuned into Binaca Geetmala every week, has passed away at the age of 91.
• World NGO Day 2024 is observed on the 27th of February 2024.