Daily Current Affairs March 24 & 25 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India Initiates Special Audit for IIFL Finance and JM Financial Products Beginning April 12,2024

• The Reserve Bank of India (RBI) will commence a special audit of IIFL Finance Limited and JM Financial Products Ltd (JMFPL) from April 12, 2024, to further investigate their regulatory breaches.

Key Highlights :

• Review and Rectification:RBI had stated that the business restrictions imposed on both entities would be reviewed after the completion of a special audit and rectification of deficiencies to satisfaction.
• Tendering Process for Audit Firms:The regulator has initiated an e-tender to seek interest from audit firms to conduct a special audit of these two non-banking finance companies.
• Audit firms empanelled by Securities and Exchange Board of India (SEBI) for forensic audits can participate in the tendering process.
• Awarding of Work:The selected audit firms will be awarded work on April 12, 2024, to commence the special audit process.
• Restrictions on IIFL Finance:On March 4, 2024, RBI barred IIFL Finance from sanctioning and disbursing fresh gold loans due to ‘material supervisory concerns’ and to protect customer interests.
• Gold loans constituted a significant portion of IIFL Finance’s assets under management (AUM), accounting for 32% of the overall consolidated AUM and 79% of the standalone AUM as of December 31, 2023.
• IIFL Finance operates a widespread network of over 2,721 dedicated gold loan branches across 25 states and Union Territories, employing approximately 15,000 individuals.
• Restrictions on JM Financial Products:On March 5, 2024, RBI prohibited JM Financial Products from providing any form of financing against shares and debentures, including loans against initial public offerings (IPOs), with immediate effect.
• RBI identified serious deficiencies in the loans sanctioned by JM Financial Products for IPO financing and Non-Convertible Debentures (NCDs) subscriptions.

What is meant by eTender?

• Electronic tender, or eTender, is the process of sending and receiving bid tenders using online procurement platforms.
• eTendering makes a huge difference to the procurement process as it offers improved visibility, compliance and decision-making across source-to-pay (S2P) operations.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Reserve Bank of India and Bank Branches Open for Government Transactions on March 30th and 31st

• The Reserve Bank of India (RBI) has announced that its offices dealing with government business and designated branches of agency banks conducting government banking business will remain open during normal working hours on March 30, 2024 (Saturday) and March 31, 2024 (Sunday).
• Electronic transactions will be facilitated until the specified time on both March 30th and March 31st.

Key Highlights :

• Special Measures for Annual Closing: These arrangements are part of special measures for the annual closing of government accounts for the financial year 2023-24.
• The aim is to ensure smooth transactions for central and state governments and provide greater convenience to taxpayers.
• NEFT and RTGS Transactions: Transactions through the National Electronic Funds Transfer (NEFT) and Real-Time Gross Settlement (RTGS) System will be operational until 2400 hours on March 31, 2024.
• Special Clearing Operations: Special clearing operations will be conducted across the country to facilitate government receipts and payments.
• This includes conducting special clearing for government cheques on both March 30th and March 31st, 2024.
• Cheque Presentations: The central bank has advised agency banks to present all cheques related to government accounts in the specified clearing.
• Reporting of Government Transactions: For reporting Central and State government transactions to the Reserve Bank of India (RBI), including uploading of GST (goods & service tax), TIN2.0 (taxpayer identification number), ICEGATE (Indian Customs EDI Gateway), and e-receipts luggage files, the reporting window for March 31, 2024, will be extended until 1200 hours noon on April 1, 2024.

Insurance Regulatory & Development Authority of India Introduces norms to enhance governance   

• The Insurance Regulatory & Development Authority of India (IRDAI) has introduced a set of new regulations to enhance the regulatory framework for the insurance industry.
• In its meeting on March 19, 2024, IRDAI approved 8 principle-based consolidated regulations.

Key Highlights :

Focus Areas of the Regulations:

• Safeguarding policyholders’ interests
• Responsibilities towards rural and social sectors
• Electronic insurance marketplace
• Foreign reinsurance branches
• Aspects of registration, actuarial, finance, investment, and corporate governance.
• Insurance Products Regulations: IRDAI has approved regulations for insurance products aimed at promoting good governance in product design and pricing.
• This includes strengthening principles related to guaranteed surrender value and special surrender value, along with disclosure requirements.

About IRDAI : 

• Established : 1999
• Headquarters : Hyderabad, Telangana
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance industries in India.

RBI Data Shows India’s Forex Reserves Reach Record High of $642.292 Billion    

• As per the latest data released by the Reserve Bank of India (RBI), India’s foreign exchange reserves rose for the fourth straight week to hit an all-time high of USD 642.292 billion in the week ending on March 15, 2024.
• During the week, the foreign exchange reserves surged by USD 6.396 billion, contributing to the overall rise.

Key Highlights :

Weekly Increase and Components:

• During the week, the foreign exchange reserves surged by USD 6.396 billion, following a rise of USD 10.470 billion in the previous week.
• India’s foreign currency assets (FCA), the largest component of forex reserves, increased by USD 6.034 billion to USD 568.386 billion.
• Gold reserves also saw an uptick, rising by USD 425 million to USD 51.140 billion.

Trend in Forex Reserves:

• In the calendar year 2023, the RBI augmented its foreign exchange reserves by about USD 58 billion.
• However, in 2022, India’s forex reserves experienced a cumulative decline of USD 71 billion.
• Notably, the country’s foreign exchange reserves last reached their all-time high in October 2021, with the subsequent decline attributed partially to increased costs of imported goods in 2022.

What are Forex reserves?

• Forex reserves, or foreign exchange reserves (FX reserves), are assets that are held by a nation’s central bank or monetary authority.
• It is generally held in reserve currencies, usually the US Dollar and, to a lesser degree, the Euro, Japanese Yen, and Pound Sterling.

Mutual Funds Impose Restrictions on Small-Cap Funds  

• Fund houses operating sizable smallcap funds have announced a fresh set of curbs to manage liquidity risk and address concerns raised by regulators.
• Franklin Templeton Mutual Fund (MF), managing nearly Rs 12,000 crore in its Franklin India Smaller Companies Fund, has limited one-time investments to Rs 200,000 per month.
• For systematic investment plan (SIP) investors, the maximum monthly investment allowed is Rs 50,000.

Key Highlights :

• Nippon India MF’s Tightened Limits: Nippon India MF, which had already imposed restrictions, further tightened its investment limits.
• The daily SIP investment limit was reduced to Rs 50,000 from Rs 500,000.
• Purpose of Limit on Subscription: The fund houses have proposed limits on subscription of units in smallcap funds to facilitate gradual deployment of the corpus, aligning with the nature of smallcap investing.
• This step aims to manage the impact of recent sharp rallies in the smallcap space and increased investor participation through high-ticket investments, ultimately benefiting existing unit holders and ensuring appropriate incremental investments.
• Changes in Exit Load: Nippon MF and Motilal Oswal MF have revised the exit load applicable to their smallcap funds.
• Investors will now incur a 1% penalty if they withdraw within one year of investment, compared to the previous month-long period.
• Motilal Oswal MF has also extended the revised exit load to its midcap scheme.
• Restrictions by 4 Other Fund Houses: Apart from Franklin Templeton and Nippon India, SBI, ICICI Prudential, Kotak, and Tata have also restricted flows into their smallcap funds.
• Release of Stress Test Reports: Fund houses released stress test reports of their smallcap and midcap funds along with an investor protection framework.
• Scrutiny of Smallcap and Midcap Schemes: Smallcap and midcap schemes have been under scrutiny following concerns raised by the Securities and Exchange Board of India (SEBI) regarding the accumulation of ‘froth’ in these spaces.
• SEBI’s Instructions to Mutual Funds ; The SEBI has instructed MFs to address two fronts: informing investors of the risks involved (through the disclosure of stress test outcomes) and mitigating any identified risks.

CURRENT AFFAIRS: NATIONAL NEWS

Election Commission Launches Saksham App To Facilitate Easier Voting For Persons With Disabilities And To Avail Facilities At Polling Stations

• The Election Commission has launched the Saksham App to facilitate easier voting for Persons with Disabilities and to avail facilities at Polling Stations.
• The Election Commission has always focused on Accessible Voting every time as it has the motto of no voter is left behind.
• The Election Commission has announced that voters above 85 years of age and Persons with Disabilities with 40 percent benchmark disability can vote from home.
• Volunteers and wheelchairs will be available at every polling station.

Key Highlights

• The poll body also arranges transport facilities for Persons with Disabilities and Elderly.
• The Commission has launched the Saksham App to facilitate easier voting for Persons with Disabilities and to avail facilities at Polling Stations.
• It is also pushing for permanent Assured Minimum Facilities AMF in schools as a gift of election process to the students. Assured Minimum Facilities consist of Drinking Water, Toilets, Signage, a Ramp or Wheelchair, Helpdesk, Voter Facilitation Centre, Sufficient Light and Shed.
• There will also be Polling Stations managed by Persons with Disabilities, Polling Stations exclusively managed by women and Model Polling Stations.

Indira Gandhi National Centre For The Arts Releases Two Literary Works Aimed At Deepening The Understanding Of India-Japan Cultural Connections

• Indira Gandhi National Centre for the Arts, IGNCA released two literary works aimed at deepening the understanding of India-Japan cultural connections.
• The books namely Siddham Calligraphy of Sanskrit Hieronyms and Sanskrit Manuscripts from Japan, Vol I were released by Member Secretary of IGNCA Sachchidanand Joshi, Advisor (Japan) in Ministry of External Affairs Ashok Chawla and First Secretary at Japanese Embassy Takashi Kobayashi among others in New Delhi.
• Member Secretary of IGNCA said these two books will go a long way to the exploration of India-Japan’s deep-rooted cultural relations.
• Kobayashi said these books will certainly redefine the relations between both the countries as they are well-connected through Buddhism.

DGCA Imposes Rs 80 Lakh Penalty On Air India For Violating FDTL Rules

• The Directorate General of Civil Aviation has imposed a financial penalty of eighty lakh rupees on Air India Limited for violation of regulations about Flight Duty Time Limitations, FDTL and Fatigue Management System, FMS of the flight crew.
• DGCA conducted a spot audit of Air India Limited in January this year to verify the regulatory compliance by the operator in respect for FDTL and FMS regulations.
• During the audit, the evidences were collected and fleet-wise random reports were analyzed.
• The analysis of reports and evidences revealed that Air India Limited operated flights with both flight crew aged above 60 years flying together in a few instances, which is a violation of Aircraft Rules.
• The operator was also found deficient in providing adequate weekly rest, adequate rest before and after ultra-long range, ULR flights and adequate rest on layover to flight crew, which violates the extant provisions of the Civil Aviation Requirements pertaining to FDTL.
• A show cause notice was issued to Air India Limited on 1st March for submitting a response to the observed violations. The operator submitted its response to the show cause notice which was not found satisfactory.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Australia Commits $3 Billion to British Industry for Timely Construction of Nuclear-Powered Submarines  

• Australia commits 4.6 billion Australian dollars (USD 3 billion) to British industry to aid in the construction of nuclear-powered submarines, ensuring the timely delivery of its new fleet.
• The announcement follows the signing of a defence and security pact between Australia and the UK, aimed at addressing challenges such as China’s increased activity in the South China Sea and South Pacific.

Key Highlights :

• Boosting Capacity in UK: The 10-year deal will enhance capacity at the Rolls-Royce factory in Derby, UK, to manufacture the nuclear reactors required for the submarines to be built by BAE Systems in Adelaide, Australia.
• Trilateral Security Partnership (AUKUS): Under the AUKUS agreement, Australia’s ASC and UK-based BAE Systems will collaborate to construct the SSN-AUKUS submarines for the Royal Australian Navy.
• These submarines, primarily based on a UK design, will feature a US weapons system.
• Acquisition of US Nuclear Submarines: Australia plans to acquire at least 3 US nuclear submarines from the early 2030s as part of the AUKUS agreement.
• Commitment to Partnership: Australia, the UK, and the US reaffirm their full commitment to the AUKUS partnership, aimed at enhancing their collective security interests.

About AUKUS :

• AUKUS is a trilateral security partnership between the United Kingdom (UK), the United States of America (USA) and Australia agreed in 2021.
• This partnership is designed to create a stronger, more resilient trilateral submarine industrial base, supporting submarine production and maintenance in all three countries.

About Australia :

• Prime Minister – Anthony Albanese
• Capital – Canberra
• Currency : Australian Dollar

CURRENT AFFAIRS: AWARDS AND HONOURS

PM Modi Becomes 1st Foreign Head To Be Bestowed With Bhutan’s Highest Civilian Award Order Of The Druk Gyalpo

• King of Bhutan Jigme Khesar Namgyel Wangchuck conferred Bhutan’s highest civilian award, the Order of the Druk Gyalpo, on Prime Minister Narendra Modi in Thimpu.
• Prime Minister Modi is the first foreign leader to be given this prestigious award.
• The citation of the Order states that the award recognises Prime Minister Modi’s accomplishments and leadership, and his contributions to strengthen the bonds of friendship between India and Bhutan.
• It also honours India’s rise as a global power under his leadership and celebrates Bhutan’s special bond with India.
• The citation further states that Prime Minister Modi’s leadership has set India on the path of transformation, and that India’s moral authority and global influence have grown.
• The King of Bhutan had announced the conferment of the award during Bhutan’s 114th National Day celebrations in December
• Prime Minister Modi also held talks with the King of Bhutan this afternoon at Tashichhodzong Palace, in Thimphu.
• Both leaders renewed commitment to the special and unique India-Bhutan friendship.
• They reviewed the bilateral ties and discussed ways to take them to new levels.
• The two leaders also discussed progress in connectivity and investment proposals including in the context of the Gelephu Mindfulness City project.
• Prime Minister also received an audience with Fourth King of Bhutan, Jigme Singye Wangchuck.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Financial Services Institutions Bureau Appoints Girija Subramanian and Bhupesh Sushil Rahul as Chairman and Managing directors of New India Assurance and United India Insurance  

• The Financial Services Institutions Bureau (FSIB), the head-hunting agency for public sector banks and insurance firms, has selected Girija Subramanian as chairman and managing director (CMD) of the New India Assurance Company and Bhupesh Sushil Rahul as CMD of United India Insurance Company.
• The post of CMD at United India Insurance has been vacant since February 2024 following the retirement of Satyajit Tripathy.
• Neerja Kapur’s tenure as CMD of New India Assurance is scheduled to conclude in April 2024.
• Girija Subramanian is currently the CMD of the Agriculture Insurance Company of India, and B S Rahul serves as the general manager at the same company.
• The 9 executive directors picked for PSU general insurers are: Rashmi Bajpai and Amit Misra for Oriental Insurance Company (OIC), HJ Joshi and Radhika CS for GIC Re, T. Babu Paul and CG Prasad for National Insurance Company (NICL), Sunita Gupta and PC Gothwal for United India Insurance and Dasarathi Singh for AICIL.
• 6 general managers were shortlisted for the selection process to appoint two CMDs: Bhupesh Sushil Rahul, Hitesh Joshi, Jayshree Bala, and V Balkrishna from GIC Re, and Sunita Gupta and Rekha Solanki from Oriental Insurance Company (OIC).
• This marks the first instance where a serving CMD of a PSU entity participated in the selection exercise to choose a CMD of another PSU insurer.
• Previously, such transfers occurred through executive orders of the Department of Financial Services (DFS) approved by the Appointments Committee of the Cabinet (ACC).

About New India Assurance Company ;

• Founded : 23 July 1919
• Headquarters : Mumbai, Maharashtra, India
• It is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance.

About United India Insurance Company :

• Founded : 18 February 1938
• Headquarters : Chennai, Tamil Nadu, India

Simon Harris Poised to Become Ireland’s Youngest Prime Minister

• Simon Harris, a prominent figure in Irish politics, has become the sole candidate in the race to become Ireland’s next prime minister following the unexpected departure of Leo Varadkar.
• At 37 years old, Harris is set to become the youngest prime minister in Ireland’s history.
• Harris’s candidacy comes at a crucial time for the governing Fine Gael party, which faces the threat of defeat in the upcoming general elections, with Sinn Fein emerging as a strong contender for government leadership.

About Simon Harris :

• Harris was born in Greystones, County Wicklow, Ireland in 1986.
• He has been a Teachta Dála (TD) for the Wicklow constituency since 2011 and was a Minister of State from 2014 to 2016.
• He has been a minister in the government of Ireland since 2016, serving as Minister for Further and Higher Education, Research, Innovation and Science since June 2020.
• Mr Varadkar, 45, became the first gay prime minister of the once staunchly Catholic country and the youngest person to hold the office when he first became Taoiseach in 2017.

Mariam Mammen Mathew Assumes the Chairmanship of Digital News Publishers Association; Puneet Gupt Appointed Vice-Chairman                                                

• Mariam Mammen Mathew, Chief Executive Officer (CEO), Manorama Online, has been appointed chairperson of Digital News Publishers Association (DNPA) for two years from April 1, 2024.
• She would succeed Tanmay Maheshwari, Managing Director, Amar Ujala.

Other Appointments :

• Puneet Gupt, the Chief Operating Officer (COO) of Times Internet, has been appointed as the new vice-chairman of DNPA.
• Puneet Jain, the CEO of Digital HT Media, continues in his role as the treasurer of DNPA.

About DNPA :

• DNPA, serving as an umbrella organisation for the digital arms of media companies, has been proactive in ensuring equality and fairness for all news publishers.
• It represents 18 prominent media organisations, including Dainik Jagran, Dainik Bhaskar, The Indian Express, and others.

About Manorama Online:

• Manorama Online is the digital arm of Malayala Manorama, one of India’s largest and oldest media houses.
• Malayala Manorama operates in various media formats including print, television, radio, and digital properties.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

ISRO Successfully Executes the second landing test of Pushpak in Karnataka

• The Indian Space Research Organization (ISRO) successfully conducted the second landing test of its reusable launch vehicle (RLV), named Pushpak, at the Aeronautical Test Range (ATR) in Challakere near Chitradurga, Karnataka.
• The vehicle’s name has been inspired by the Ramayana’s mythical ‘Pushpak Viman’ since this modern-day aircraft stands as a symbol of innovation and prosperity.
• ISRO conducted the first landing experiment, RLV-LEX-01, with a scaled down version of the RLV technology demonstrator (RLV-TD) 2023 on a Chinook Helicopter of the Indian Air Force.

About Pushpak RLV :

• The scientists have designed the Pushpak RLV as an all-rocket and fully reusable single-stage-to-orbit (SSTO) vehicle.
• It includes several important elements like the X-34 testbed technology demonstrator, the X-33 advanced technology demonstrator, as well as the upgraded DC-XA flight demonstrator.
• This is Pushpak’s third flight after a series of tests were carried out by the scientists with the aim of perfecting the vehicle’s robotic landing capabilities amid complex conditions.

RLV-TD (technology demonstrator) Significance :

• RLV-TD (technology demonstrator) is one of the most challenging endeavours of the Indian space agency towards developing essential technologies for a fully reusable launch vehicle to enable low-cost access to space.

About ISRO :

• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath

CURRENT AFFAIRS: SPORTS NEWS

FIFA Cancels Japan & North Korea World Cup Qualifier

• Soccer’s world governing body, FIFA, has cancelled a World Cup qualifier between Japan and North Korea which was scheduled to be played on 26^th March in Pyongyang.
• FIFA announced the decision on its website, saying it decided in the absence of an alternative venue confirmed by North Korea and the lack of space in the calendar to postpone this game.
• The announcement followed a notification by the North that it could no longer host the match.
• The Asian Football Confederation had said that the match would not take place as scheduled due to unforeseen circumstances.
• North Korea appeared to be concerned about a rise in infectious diseases in Japan.

Badminton World Federation Announces Draws For Upcoming 2024 Thomas And Uber Cup Tournaments In Chengdu, China

• The Badminton World Federation has announced the draws for the upcoming 2024 Thomas and Uber Cup tournaments in Chengdu, China.
• Defending champion Indian men’s team has been clubbed with tournament’s most successful team, Indonesia.
• India will also face Thailand and England in Group C.
• India made history by clinching the Thomas Cup in 2022 with an impressive victory over Indonesia in Bangkok.
• Meanwhile, in the Uber Cup, the Indian women’s badminton team has been placed in Group A with, China, Canada and Singapore.

Maharashtra’s Naheed Divecha Won 2 Gold Medals In Indian Masters National Badminton Championship 2024 In Panchkula

• Maharashtra’s Naheed Divecha has won two gold medals in the Indian Masters National Badminton Championship 2024 in Panchkula.
• Divecha, a mem ber of the Bombay Gymkhana and associated with Shuttle Craze Academy clinched the Women’s 50 singles title by defeating Haryana’s Sunita Singh Panwar in straight sets.
• Later, the duo of Naheed Divecha and Kiran Mokade grabbed the Mixed Doubles 50 title with an impressive win over the top-seeded Karnataka pair of Prabagaran Subbaiyan and Jayashree Raghu in straight sets.

Figure Skating: Japan’s Kaori Sakamoto Wins 3rd Straight World Title

• Japan’s Kaori Sakamoto has become the first woman to win three straight titles at the Figure Skating World Championships since 1968.
• The 2022 Olympic bronze medalist staged a nearly flawless routine featuring multiple triple jumps in her free skate.
• 17-year-old American Isabeau Levito won Silver while Kim Chae-yeon of South Korea took bronze.
• Sakamoto has dominated the season, sweeping the Grand Prix Series and claiming a fourth Japanese national title.

CURRENT AFFAIRS : OBITUARIES

Former Pakistan Cricket Board Chairman and Diplomat Shaharyar Khan, Born in Bhopal, Passed Away

• Shaharyar Khan, a career diplomat and former Pakistan Cricket Board (PCB) chairman who played a big role in restoring cricket ties with India in the early 2000s passed away at the age of 89.

About Shaharyar Khan :

• Born in Bhopal, Shaharyar Khan was a career diplomat and a cousin of former Indian cricket captain, Mansur Ali Khan Pataudi.
• He served as Pakistan foreign secretary between 1990-94 and also as a High Commissioner in New Delhi and the United Kingdom.
• He later served as United Nations Special Representative of the Secretary-General to Rwanda (1994–1996).
• He also worked as Pakistan team manager during the 1999 tour of India and the 2003 Cricket World Cup.
• He headed the PCB from 2003 to 2006, a period when India toured Pakistan twice, and from 2014 to 2017.
• Apart from his diplomatic and cricketing roles, he was an author who wrote multiple books sharing his experiences in foreign relations and cricket.

CURRENT AFFAIRS: IMPORTANT DAYS

World Tuberculosis (TB) Day 2024: March 24

• World Tuberculosis Day, observed on 24 March each year all over the world is designed to build public awareness about the global epidemic of tuberculosis and efforts to eliminate the disease.
• World Tuberculosis (TB) Day continues with the theme “Yes! We can end TB”.
• On March 24, 1882, Dr. Robert Koch announced the discovery of Mycobacterium tuberculosis, the bacteria that causes tuberculosis (TB).
• During this time, TB killed one out of every seven people living in the United States and Europe.
• Koch’s discovery was the most important step taken toward the control and elimination of this deadly disease.
• A century later, March 24 was designated World TB Day: a day to educate the public about the impact of TB around the world.

International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade 2024: March 25

• On March 25th , International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade 2024 is celebrated all over the world.
• International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is a United Nations international observance designated in 2007 to be marked on 25 March every year.
• The day honours and remembers those who suffered and died as a consequence of the transatlantic slave trade, which has been called “the worst violation of human rights in history”, in over 400 years more than 15 million men, women, and children were the victims.

International Day of the Unborn Child 2024 History, Theme: March 25

• On March 25^th, International Day of the Unborn Child 2024 is celebrated all over the world.
• International Day of the Unborn Child was established by Pope John Paul II to coincide with the Feast of the Annunciation and is officially recognized in several predominantly Catholic countries.
• John Paul II viewed the day as “a positive option in favor of life and the spread of a culture for life to guarantee respect for human dignity in every situation”.
• El Salvador was the first country to recognize a Day of the Right to Be Born, which was established in 1993.
• Other countries followed suit, with Argentina declaring the Day of the Unborn in 1998, Chile declaring the Day of the Conceived and Unborn in 1999, Guatemala declaring the National Day of the Unborn, and Costa Rica declaring the National Day of Life Before Birth in 2000.
• Nicaragua, the Dominican Republic, Peru, Paraguay, the Philippines, Honduras, Ecuador, and Puerto Rico began commemorating the Day of the Unborn Child in 2000, 2001, 2002, and 2003, respectively.
• In 2013, Chile began commemorating the Day of the Unborn Child and Adoption.
• The Knights of Columbus have embraced the promotion of the International Day of the Unborn Child.

Daily CA One- Liner: March 24 & 25

• The Election Commission has launched the Saksham App to facilitate easier voting for Persons with Disabilities and to avail facilities at Polling Stations.
• Indira Gandhi National Centre for the Arts, IGNCA released two literary works aimed at deepening the understanding of India-Japan cultural connections
• The Directorate General of Civil Aviation has imposed a financial penalty of eighty lakh rupees on Air India Limited for violation of regulations about Flight Duty Time Limitations, FDTL and Fatigue Management System, FMS of the flight crew
• King of Bhutan Jigme Khesar Namgyel Wangchuck conferred Bhutan’s highest civilian award, the Order of the Druk Gyalpo, on Prime Minister Narendra Modi in Thimpu
• Soccer’s world governing body, FIFA, has cancelled a World Cup qualifier between Japan and North Korea which was scheduled to be played on 26^th March in Pyongyang.
• The Badminton World Federation has announced the draws for the upcoming 2024 Thomas and Uber Cup tournaments in Chengdu, China
• The Badminton World Federation has announced the draws for the upcoming 2024 Thomas and Uber Cup tournaments in Chengdu, China
• Japan’s Kaori Sakamoto has become the first woman to win three straight titles at the Figure Skating World Championships since 1968
• The Reserve Bank of India (RBI) will commence a special audit of IIFL Finance Limited and JM Financial Products Ltd (JMFPL) from April 12, 2024, to further investigate their regulatory breaches.
• The Reserve Bank of India (RBI) has announced that its offices dealing with government business and designated branches of agency banks conducting government banking business will remain open during normal working hours on March 30, 2024 (Saturday) and March 31, 2024 (Sunday).
• The Insurance Regulatory & Development Authority of India (IRDAI) has introduced a set of new regulations to enhance the regulatory framework for the insurance industry.
• As per the latest data released by the Reserve Bank of India (RBI), India’s foreign exchange reserves rose for the fourth straight week to hit an all-time high of USD 642.292 billion in the week ending on March 15, 2024.
• Fund houses operating sizable smallcap funds have announced a fresh set of curbs to manage liquidity risk and address concerns raised by regulators.
• Australia commits 4.6 billion Australian dollars (USD 3 billion) to British industry to aid in the construction of nuclear-powered submarines, ensuring the timely delivery of its new fleet.
• The Financial Services Institutions Bureau (FSIB),the head-hunting agency for public sector banks and insurance firms, has selected Girija Subramanian as chairman and managing director (CMD) of the New India Assurance Company and Bhupesh Sushil Rahul as CMD of United India Insurance Company.
• Simon Harris, a prominent figure in Irish politics, has become the sole candidate in the race to become Ireland’s next prime minister following the unexpected departure of Leo Varadkar.
• Mariam Mammen Mathew, Chief Executive Officer (CEO), Manorama Online, has been appointed chairperson of Digital News Publishers Association (DNPA) for two years from April 1, 2024.
• The Indian Space Research Organization (ISRO) successfully conducted the second landing test of its reusable launch vehicle (RLV), named Pushpak, at the Aeronautical Test Range (ATR) in Challakere near Chitradurga, Karnataka.
• Shaharyar Khan, a career diplomat and former Pakistan Cricket Board (PCB) chairman who played a big role in restoring cricket ties with India in the early 2000s passed away at the age of 89.
• World Tuberculosis Day, observed on 24 March each year all over the world is designed to build public awareness about the global epidemic of tuberculosis and efforts to eliminate the disease
• On March 25th,International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade 2024 is celebrated all over the world.
• On March 25^th, International Day of the Unborn Child 2024 is celebrated all over the world.