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Daily Current Affairs 8 March 2024, Important News Headlines (Daily GK Update)

Read the most important current affairs of 08 March 2024. Today Current Affairs covers the headlines on Sahityotsav, ‘Bharat-Shakti’ Exercise, Sansad Khel Mahakumbh 3.0, 6th Jan Aushadhi Diwas.

Top 23 Current Affairs and News Headlines of 08 March 2024

National News

1.Government Approves Dearness Allowance Hike and Other Benefits for Employees and Pensioners

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  • The Union Cabinet has sanctioned a 4% increase in Dearness Allowance (DA) and Dearness Relief (DR) for central government employees and pensioners, effective from January 1.
  • This decision aims to benefit over 10 million employees and 6.79 million pensioners, with a combined impact on the exchequer of Rs 12,869 crore annually.
  • The enhanced DA of 50% of basic pay will be effective from January 1, 2024. Central Government Employees and pensioners will receive arrears, if applicable.

2.Celebrating 6th Jan Aushadhi Diwas

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  • India observes Jan Aushadhi Diwas on 7th March every year, a day dedicated to raising awareness about the benefits and importance of generic medicines.
  • This observance highlights the pivotal role of the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) in making healthcare affordable and accessible to all.
  • Marking its 6th anniversary in 2024, Jan Aushadhi Diwas serves as a reminder of the government’s commitment to ensuring the well-being of its citizens.

International News

3.New Insurance Package for Indian Blue-Collar Workers in UAE

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  • The Indian Consulate in Dubai has introduced a new insurance package called the Life Protection Plan (LPP) for Indian blue-collar workers in the United Arab Emirates (UAE).
  • This plan aims to provide financial benefits to the families of the workers in case of natural or accidental deaths.
  • The Life Protection Plan (LPP) for blue-collar workers and other employees, covering death due to any cause – natural or accidental, became effective from March 1, 2023.

State News

4.Union Minister Rajeev Chandrasekhar Opens 2 STPI Centers In Thiruvananthapuram & Kochi

Union Minister Rajeev Chandrasekhar Opens 2 STPI Centers In Thiruvananthapuram & Kochi_60.1

  • At the 4th Semicon India FutureDesign Roadshow in Kerala, Minister Rajeev Chandrasekhar facilitated a significant Memorandum of Understanding (MoU) between IBM and C-DAC.
  • This partnership aims to propel India’s processor design and manufacturing capabilities for High-Performance Computing (HPC), marking a pivotal moment in India’s technological advancement.
  • In a bid to bolster Kerala’s electronics, IT sector, and startup ecosystem, Minister Rajeev Chandrasekhar inaugurated new Software Technology Parks of India (STPI) centers in Thiruvananthapuram and Kochi.

5.PM Modi Encourages Destination Weddings: ‘Wed in India’ In J&K

PM Modi Encourages Destination Weddings: 'Wed in India' In J&K_60.1

  • Prime Minister Narendra Modi has unveiled his ambitious plan to make India a prime wedding destination, aiming to boost tourism and retain revenue within the country.
  • During a rally in Srinagar, Modi introduced his next mission, ‘Wed in India,’ urging people to choose India, particularly Jammu and Kashmir, as their wedding destination.
  • He highlighted the success of tourism in the region and encouraged the hosting of weddings to further promote economic growth.

6.Bengaluru to Get India’s First Driverless Metro Train

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  • The Bengaluru Metro Rail Corporation Limited (BMRCL) has received the first set of six train coaches for its upcoming driverless metro line, called the Yellow Line.
  • This 18.8 km-long line, connecting RV Road and Bommasandra, will be the first in India to have a driverless train system.
  • The new metro line will use the Communication-based Train Control (CBTC) system, which is a modern radio communication system that provides timely and accurate train control information.

Defence News

7.Indian Armed Forces to Conduct Mega ‘Bharat-Shakti’ Exercise in Jaisalmer

Indian Armed Forces to Conduct Mega 'Bharat-Shakti' Exercise in Jaisalmer_60.1

  • The three forces of India – Army, Navy, and Air Force – are going to conduct the biggest exercise called ‘Bharat-Shakti’ at Asia’s largest field firing range located in Jaisalmer district of Rajasthan.
  • Bharat Shakti is a significant tri-Service exercise showcasing the firepower of the Army, Air Force, and Navy.
  • The three Indian Services will showcase the capability of indigenously manufactured weapons and platforms during the exercise. Only indigenous weapon systems developed in India will be included in this exercise.

Banking News

8.Infibeam Avenues Secures RBI Authorization for Payment Aggregator License

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  • Infibeam Avenues, India’s pioneering AI-powered fintech company and the country’s first listed entity in this domain, has achieved a significant milestone.
  • Infibeam Avenues has received the definitive nod from the RBI to operate as a payment aggregator (PA), affirming its position in the digital payments landscape.
  • The RBI introduced the Payment Aggregator (PA) framework in March 2020, mandating payment gateways to obtain an aggregator license for merchant acquisition and provision of digital payment acceptance solutions.

Business News

9.Indian Oil Produces Formula 1 Fuel In India

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  • Indian Oil Corporation Ltd (IOC), the nation’s premier oil firm, is set to revolutionize the motorsports industry by manufacturing fuel tailored for adrenaline-pumping Formula One (F1) racing.
  • With its latest offering, ‘Storm’ petrol, IOC aims to expand its repertoire of niche fuels, catering to the high-performance demands of motor racing enthusiasts.
  • With a timeline of just two months, IOC aims to produce Category-1 fuel, followed by the production of Formula 1 fuel within three months

Important Days News

10.International Women’s Day 2024

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  • International Women’s Day (IWD) is an annual global event celebrated on March 8th each year. It serves as a focal point for recognizing the social, economic, cultural, and political achievements of women worldwide.
  • This year, like every year, the international community comes together to honor women’s contributions and to advocate for gender equality.
  • The United Nations has chosen the theme ‘Invest in Women: Accelerate Progress’ for International Women’s Day 2024.

11.Mahashivratri 2024

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  • Mahashivratri, a celestial festival resonating with spiritual fervor, beckons devotees worldwide to partake in the divine celebration of Lord Shiva, the epitome of cosmic consciousness and eternal bliss.
  • As the ethereal night of reverence unfolds on March 08th, 2024, devotees embark on a profound journey of devotion, introspection, and transcendence.
  • Maha Shivaratri holds deep spiritual significance for Hindus, signifying the victory of light over darkness. It is believed that on this day, the spiritual energies of the universe are particularly potent, making it an ideal time for devotees to engage in fasting, meditation, and prayers.

Schemes News

12.Union Cabinet Approved Uttar Poorva Transformative Industrialization Scheme, 2024

Union Cabinet Approved Uttar Poorva Transformative Industrialization Scheme, 2024_60.1

  • The Union Cabinet, led by Prime Minister Shri Narendra Modi, has sanctioned the Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024).
  • This scheme, spearheaded by the Ministry of Commerce and Industry, aims to invigorate industrial development in the North East Region, fostering economic growth and job creation.
  • Total outlay of Rs. 10,037 crore for 10 years, with an additional Rs. 300 crore for implementation and institutional arrangements.
  • The UNNATI scheme aims to spur industrial growth in the North East, fostering socio-economic development and creating a conducive environment for manufacturing and services sectors.

Agreements News

13.Sweden Joins NATO, Ends Decades Neutral Stance

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  • Sweden formally became the 32nd member of NATO after completing its accession process in Washington. This decision comes two years after Sweden’s application, triggered by Russia’s full-scale invasion of Ukraine, highlighting concerns about regional security.
  • After more than 200 years of neutrality and avoidance of military alliances, Sweden’s decision marks a significant departure. This move signifies a shift towards aligning with NATO’s collective security framework.

14.RBI and Bank Indonesia Sign MoU to Promote Local Currency Use

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  • The Reserve Bank of India (RBI) and Bank Indonesia (BI) have inked a MoU aimed at bolstering the utilization of local currencies – the Indian Rupee (INR) and the Indonesian Rupiah (IDR) – for cross-border transactions.
  • The MoU, signed in Mumbai by RBI Governor Shaktikanta Das and Bank Indonesia Governor Perry Warjiyo, establishes a framework to foster the use of INR and IDR in cross-border transactions.
  • By facilitating transactions in local currencies, the collaboration seeks to enhance trade between India and Indonesia, fostering deeper financial integration and reinforcing the longstanding economic ties between the two nations.

15.NIGEL Inks PPA With GUVNL For 600 MW Solar Project

NIGEL Inks PPA With GUVNL For 600 MW Solar Project_60.1

  • NLCIL has emerged victorious in securing a 600 MW Solar Power Project tender within the GSECL Khavda Solar Park, initiated by GUVNL through a competitive bidding process.
  • The project’s annual electricity generation capacity is estimated at 1,577.88 Million Units (MU), with a cumulative generation of 39.447 Billion Units (BU) over its lifetime.
  • Moreover, the project is poised to mitigate approximately 35.5 Million Metric Tons of Carbon dioxide emissions throughout its operational lifespan.

Appointments News

16.SAP Appoints New President and MD for Indian Subcontinent

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  • German technology giant SAP has made a significant leadership change in the Indian Subcontinent region. Manish Prasad has been appointed as the new president and managing director for the region, succeeding Kulmeet Bawa.
  • Kulmeet Bawa, the outgoing president and MD, has taken on a global role to drive the growth and adoption of the SAP Business Technology Platform (SAP BTP) for global customers.
  • In his new role, Manish Prasad will be responsible for advancing SAP’s move to the cloud. He will help customers across all industries in the region to digitally transform with SAP’s solutions.

Awards News

17.Zoya Akhtar, Asma Khan Honored at ‘India-UK Achievers’ Awards in London

Zoya Akhtar, Asma Khan Honored at 'India-UK Achievers' Awards in London_60.1

  • Renowned filmmaker Zoya Akhtar and British Indian chef Asma Khan were honored at the annual ‘India-UK Achievers’ awards in London.
  • Zoya Akhtar was honored with the Living Legend Award for her work in furthering the understanding of India. Akhtar is acclaimed for box-office successes such as ‘Luck By Chance’ and ‘Zindagi Na Milegi Dobara’, as well as her recent work ‘The Archies’.

Sports News

18.Sansad Khel Mahakumbh 3.0 Inaugurated in Bilaspur, Himachal Pradesh

Sansad Khel Mahakumbh 3.0 Inaugurated in Bilaspur, Himachal Pradesh_60.1

  • Union Minister Anurag Singh Thakur grandly inaugurated the Sansad Khel Mahakumbh 3.0 at the Luhnu Cricket Ground in Bilaspur on March 5, 2024. Chief Guests
  • Indian cricket team captain Rohit Sharma and Indian cricket team coach Rahul Dravid graced the occasion as chief guests. The MP Khel Mahakumbh has become the biggest platform for players from the Hamirpur parliamentary constituency to showcase their talent.
  • In the first edition, 40,000 people participated, while the second edition saw 45,000 participants. The target for the third edition is the participation of 75,000 players.

Science & Technology News

19.ISRO Gearing Up for Next Lunar Mission Chandrayaan-4

ISRO Gearing Up for Next Lunar Mission Chandrayaan-4_60.1

  • ISRO chief S Somnath informed at the National Space Science Symposium (NSSS 2024) that the Indian Space Research Organization (ISRO) is preparing to launch the next lunar mission Chandrayaan-4.
  • This mission will include five spacecraft modules. The five components of the Chandrayaan-4 lunar mission will be launched in two phases.
  • India’s heaviest launch vehicle, LVM-3, will launch the propulsion, descender, and ascender modules. This will be the first ISRO mission utilizing two launch vehicles for a single mission.

20.Cabinet Approves IndiaAI Mission with Rs. 10,372 Crore Budget

Cabinet Approves IndiaAI Mission with Rs. 10,372 Crore Budget_60.1

  • The Indian Cabinet, led by Prime Minister Shri Narendra Modi, has greenlit the ambitious IndiaAI mission, allocating a substantial budget of Rs. 10,371.92 crore.
  • This initiative aligns with the vision of bolstering AI innovation within India and leveraging AI for the nation’s advancement.
  • The mission aims to establish a robust AI ecosystem through a strategic public-private partnership approach. AIC will serve as a premier academic institution, facilitating efficient implementation and retention of top research talent.

21.Minister Rajeev Chandrasekhar Introduces ChipIN For India’s Semiconductor Transformation

Minister Rajeev Chandrasekhar Introduces ChipIN For India's Semiconductor Transformation_60.1

  • In a significant event held at the Vikram Sarabhai Space Centre in Kerala, Union Minister Rajeev Chandrasekhar, introduces ChipIN Centre, a revolutionary facility poised to transform semiconductor design in India.
  • Offering diverse design flows and cutting-edge tools, ChipIN aims to democratize access to chip design infrastructure nationwide.
  • With a focus on advanced node technologies, the center seeks to empower students, researchers, and industry professionals with the necessary resources to drive innovation.

Miscellaneous News

22.Sahityotsav, World’s Biggest Lit Fest From March 11-16

Sahityotsav, World's Biggest Lit Fest From March 11-16_60.1

  • Sahitya Akademi, the esteemed National Academy of Letters in India, is marking its 70th anniversary this year, and in honor of this milestone, the annual ‘Sahityotsav’ has transformed into the world’s largest literary festival.
  • The Festival of Letters, spanning across over 190 sessions, will kick off with an exhibition highlighting the Akademi’s significant activities from the preceding year.
  • Renowned Urdu writer and lyricist, Gulzar, will deliver the esteemed Samvatsar lecture on March 13th at 6:30 pm at the Meghdoot open theatre, adding a touch of literary brilliance to the festival.

23.Center Releases Regulations For Captive Exotic Wildlife

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  • India, as a party to the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), has recently implemented stringent measures to regulate the possession and trade of exotic pets.
  • The Living Animal Species (Reporting and Registration) Rules, 2024, issued by the Union environment ministry on February 28, aim to enforce the provisions of the Convention and ensure the protection of endangered wildlife.
  • Under these rules, individuals possessing exotic pets such as macaws, cockatoos, or various soft-shell turtles are required to register them with the state wildlife department.


Check More GK Updates Here

Daily Current Affairs 8 March 2024, Important News Headlines (Daily GK Update) |_26.1



Which exercise, conducted by the three forces of India – Army, Navy, and Air Force – is scheduled to take place at Asia's largest field firing range situated in the Jaisalmer district of Rajasthan?