24 March 2023 Current Affairs – The Day’s Top News | GKSERIES
Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 24 March 2023, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.
So, here is the Top News of the Day for 24 March 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.
Current Affairs for Competitive Exam – 24 March 2023
Will SVB collapse impact the Indian talent market?
Will SVB collapse impact the Indian talent market?– The recent failure of Silicon Valley Bank (SVB) has created uncertainty in the talent market for Indian startups that had approximately $1 billion in deposits with the lender. SVB was shut down by regulators on March 10 due to a run on the bank, despite having $209 billion in assets at the end of 2022.
March 2023 Current Affairs Quiz
SVB collapse and Indian talent market:
However, HR and staffing firms are optimistic about the Indian economy and believe that the SVB crisis will not have a significant impact on the talent market.
While there may be some imbalance as a result of factors such as a slowdown, experts believe that the SVB collapse will have no effect on the talent market. Data from staffing company Xpheno shows that tech startup demand for talent dropped to one-third of its usual volume during the second half of 2022 and has remained below 20,000, leading to a slower pace of hiring.
Reduction in liquidity for Startups:
Startups that had built their reserves and deposits at SVB are likely to be impacted by the bank’s demise, and efforts are being made to secure and recover their reserves. For these startups, the main inconvenience will be a reduction in liquidity and delays in accessing funds.
However, they have a means of resolving the situation and are unlikely to resort to layoffs. They may need to exercise short-term austerity measures to navigate through this period.
A short-term disruption:
AR Ramesh, the director of managed services and professional staffing at Adecco India, stated that while the performance of specific banks and financial institutions may have some impact on the technology and startup sectors, it is unlikely to be the primary factor influencing the demand for talent.
According to him, this will be a short-term problem because Indian businesses, particularly startups, play an important role in the global technology industry, and there is still a high demand for talent in these fields.
World Tuberculosis Day 2023 observed on 24 March
World Tuberculosis Day 2023: Every year on March 24th, World Tuberculosis Day is observed to raise awareness about the global tuberculosis (TB) epidemic and efforts to eradicate the disease. The World Health Organization (WHO) aims to end the TB epidemic by 2030. The organization works with governments, non-governmental organizations, and other partners to increase access to TB prevention, diagnosis, and treatment, and to develop new tools and strategies for TB control. On World Tuberculosis Day, organisations and individuals all over the world hold events and activities to raise awareness about tuberculosis, its causes, symptoms, and treatment, as well as to promote efforts to eradicate the disease. The day provides an opportunity for people to come together and take action to help end the TB epidemic.
March 2023 Current Affairs Quiz
World Tuberculosis Day 2023: Theme
The theme for this year’s World Tuberculosis Day is “Yes! We can end TB!” and it focuses on urging leaders from around the world to take action to stop the TB epidemic. The theme highlights the significance of various factors, including increased funding, prompt action, collaboration among different sectors, swift implementation of new WHO guidelines, and innovative approaches to eliminate tuberculosis.
World Tuberculosis Day 2023: History
Since 1982, March 24th has been observed as World Tuberculosis Day, commemorating the date in 1882 when Dr. Robert Koch announced his discovery of the tuberculosis (TB) bacterium. Koch’s discovery paved the way for diagnosing and treating TB, which had been a major cause of illness and death in Europe at the time.
In 1982, the International Union Against Tuberculosis and Lung Disease (IUATLD) and the World Health Organization (WHO) established World TB Day to raise public awareness about the global epidemic of TB and the efforts needed to control and eliminate the disease.
Since then, World TB Day has been observed every year, with a different theme to highlight a specific aspect of TB prevention, diagnosis, treatment, and care. The day allows organisations and individuals all over the world to come together to raise awareness about tuberculosis and advocate for increased funding, research, and action to eradicate the disease.
What is Tuberculosis (TB)?
Tuberculosis (TB) is a bacterial infection caused by the Mycobacterium tuberculosis bacteria. It most commonly affects the lungs but can also affect other parts of the body, such as the kidneys, spine, and brain. When an infected person coughs, sneezes, or talks, the bacteria are inhaled by another person. Symptoms of TB include persistent coughing, chest pain, fatigue, weight loss, fever, and night sweats. However, not everyone with TB experiences symptoms, and some people may not develop symptoms until the disease is advanced.
TB can be treated with antibiotics, but the treatment can take several months, and it requires a combination of drugs. Treatment is essential to cure the disease, prevent the spread of TB to others, and prevent drug-resistant TB from developing. TB is a significant global health concern, with millions of new cases and deaths each year, particularly in low- and middle-income countries.
Ashneer Grover launched cricket fantasy sports app ‘CrickPe’
Ashneer Grover launched cricket fantasy sports app ‘CrickPe’: Before the Indian Premier League (IPL) tournament, Ashneer Grover, co-founder of BharatPe, has launched CrickPe, a new cricket-focused fantasy sports app. This app will compete with Dream11, the Mobile Premier League (MPL), and Games24x7’s My11Circle. Third Unicorn Pvt Ltd, founded by Ashneer Grover, has raised $4 million in seed funding from more than two dozen angel investors, including Anmol Singh Jaggi, Anirudh Kedia, and Vishal Kedia. Grover was previously associated with the unicorns BharatPe and Grofers. The app’s launch is timed to coincide with the upcoming IPL tournament, and users will be able to enter contests for IPL matches beginning March 31, 2023.
March 2023 Current Affairs Quiz
Features of CrickPe
- CrickPe is a newly launched cricket-focused fantasy sports app that allows users over the age of 18 to create virtual cricket teams and compete for cash prizes based on real-life player performance.
- Users can also create private groups and compete in contests to earn rewards. The app will charge a 10% platform fee for any public or private contest. It will offer free contests for users to improve their skills.
- The platform includes a one-of-a-kind feature that allows users to send cash rewards to their favourite cricketers in amounts ranging from Rs 100 to Rs 100,000 per cricketer per fiscal year.
- CrickPe will charge a 10% fee for transactions of cash rewards accepted by cricketers starting from June 2023. However, the app is not acting as an agent of cricketers and is solely offering the feature as a user agent.
About the Ashneer Grover
- Ashneer Grover is an Indian entrepreneur and co-founder of several successful startups. He was born in 1982 in Delhi, India, and completed his MBA from the Indian School of Business in Hyderabad.
- Grover began his career as a management consultant with A.T. Kearney in 2005. Later in his career, he served as Chief Financial Officer (CFO) for companies such as GreenDust and Bharti AXA Life Insurance.
- In 2018, Grover co-founded BharatPe, a financial technology company that provides payment solutions to merchants in India. The company has since become one of the fastest-growing fintech startups in India and achieved unicorn status in 2020, valued at over $1 billion.
- Grover was also associated with Grofers, an Indian online grocery delivery service, as its CFO before co-founding BharatPe.
- In 2022, Grover launched his third venture, Third Unicorn Pvt Ltd, which has developed a cricket-focused fantasy sports app called CrickPe.
Egypt joins BRICS bank as new member weeks after President Sisi’s India visit
Egypt joins BRICS bank as new member weeks after President Sisi’s India visit: Egypt has joined the BRICS New Development Bank after President Abdel-Fattah El-Sisi visited India as the chief guest for the Republic Day celebrations.
Egypt and BRICS New Development Bank (NDB):
Egypt officially joined the NDB on February 20, according to sources familiar with the matter, with a formal notification issued on March 22. The African-Arab nation intends to enhance its infrastructure, and NDB funding can make a significant contribution toward achieving this goal.
March 2023 Current Affairs Quiz
President El-Sisi’s visit to India and BRICS Bank:
The Egyptian Parliament approved the agreement that allowed Egypt to join the NDB following President El-visit Sisi’s to India for the Republic Day celebrations. The lawmakers welcomed the move, recognizing it as a means of reducing the need for US dollars.
The upcoming BRICS Summit, scheduled to be hosted by South Africa in August, is anticipated to promote intra-BRICS trade using national currencies, allowing member nations to safeguard their foreign exchange reserves.
About BRICS New Development Bank (NDB):
- It is a multilateral development bank jointly founded by the BRICS countries(Brazil, Russia, India, China and South Africa) at the 6th BRICS Summit in Fortaleza, Brazil in 2014.
- It was formed to support infrastructure and sustainable development efforts in BRICS and other underserved, emerging economies for faster development through innovation and cutting-edge technology.
- It is headquartered at Shanghai, China.
- In 2018, the NDB was granted observer status in the United Nations General Assembly, laying the groundwork for active and fruitful collaboration with the UN. Bangladesh, the United Arab Emirates, and Uruguay joined the NDB in September 2021. Egypt was welcomed as a new member of the NDB in December 2021.
Jack Dorsey’s wealth tumbles $526 million after Hindenburg short
Jack Dorsey’s wealth tumbles $526 million after Hindenburg short: The recent report by Hindenburg Research accusing Block Inc. of ignoring widespread fraud has had a significant impact on co-founder Jack Dorsey’s net worth. His fortune dropped 11% in a single day, totaling $526 million, the most significant single-day drop since May. According to the Bloomberg Billionaires Index, Dorsey’s net worth now stands at $4.4 billion.
March 2023 Current Affairs Quiz
Hindenburg report and Jack Dorsey’s Wealth:
Hindenburg published a report accusing Block of inflating user metrics and predicting a downside of 65% to 75% for the stock based on fundamentals alone. Although Block denied the allegations and intends to pursue legal action against the short-seller, the company’s shares dropped by as much as 22% before ultimately closing down 15%.
The majority of Jack Dorsey’s personal wealth is invested in Block, which he co-founded with Twitter. According to the Bloomberg wealth index, his stake in Block is valued at $3 billion, while his position in Elon Musk’s social media firm is estimated at $388 million.
History of Hindenburg Reports:
Hindenburg Research, headed by Nathan Anderson, has previously targeted billionaires and caused their wealth to plummet.
Earlier this year, the firm conducted an investigation into Indian businessman Gautam Adani and his companies, which resulted in their stocks plunging and causing Adani’s net worth to decrease by tens of billions of dollars. With a fortune of $60.1 billion, Adani, who was previously the world’s second-richest person, is now ranked 21st on Bloomberg’s wealth index.
In September 2020, Hindenburg also focused on electric carmaker Nikola Corp. The company’s stock price dropped following the report, and an investigation ultimately resulted in the conviction of founder Trevor Milton for fraud in October of that year.
Canara Bank sells stake in Russian joint venture to SBI for Rs 121 crore
Canara Bank sells stake in Russian joint venture to SBI for Rs 121 crore: Canara Bank has sold its stake in Commercial Indo Bank LLC (CIBL), a joint venture with State Bank of India (SBI), to SBI for approximately 121.29 crore. CIBL, which was established in 2003, operates in Russia and is owned 60% by SBI and 40% by Canara Bank. Canara Bank reports that the sale agreement was signed on November 11, 2022.
March 2023 Current Affairs Quiz
More About The Canara Bank and SBI Deal:
Canara Bank has confirmed in a regulatory filing that it has received the full consideration amount of 121.29 crore for the sale of its stake in Commercial Indo Bank LLC to SBI. The agreement for the sale of Canara Bank’s stake to SBI was announced in January of this year and the entire transfer of shares was completed on November 11, 2022, as per the agreement.
About the Canara bank:
Canara Bank is an Indian public sector bank under the control and ownership of Ministry of Finance, Government of India. Ammembal Subba Rao Pai founded the bank in Mangalore in 1906, and it now has offices in London, Dubai, and New York.
Important takeaways for all competitive exams:
- Canara Bank Headquarters: Bengaluru;
- Canara Bank Founder: Ammembal Subba Rao Pai;
- Canara Bank Was Founded On: 1 July 1906
Google Doodle celebrates 77th birth anniversary of late Kitty O’Neil
77th birth anniversary of late Kitty O’Neil: Kitty O’Neil, a famous American stuntwoman and actress who was deaf from a young age, was honoured by Google with a doodle depicting her in a yellow jumpsuit on her 77th birthday anniversary. She went on to become one of Hollywood’s most famous stunt drivers. Google celebrated Kitty O’Neil’s 77th birth anniversary with a doodle that depicted her in a yellow jumpsuit. Despite being deaf since childhood, she rose to prominence in Hollywood as a stunt driver and held the women’s absolute land speed record until 2019.
March 2023 Current Affairs Quiz
About the Kitty O’Neil:
- Kitty O’Neil was a stuntwoman and actor from Texas who was born in 1946. She became deaf at a young age due to contracting multiple diseases. Despite this, she went on to become one of Hollywood’s most well-known stunt drivers and performers, serving as a stunt double in a number of films and television shows.
- In 1976, O’Neil set the women’s absolute land speed record while driving a three-wheeled hydrogen peroxide rocket car at an average speed of 825.127 kmph and a top speed of 999 kmph. This earned her the title of the “fastest woman in the world.” She also set a women’s high-fall record of 127 feet (39 m) while performing as a stunt double in the 1979 episode of the Wonder Woman TV series, which she would later break.
- O’Neil died of pneumonia in 2018 at the age of 72. In 2019, she received the Oscars in Memoriam award. A biopic about her life, called Silent Victory: The Kitty O’Neil Story, was released in 1979 and showcased her land speed record achievement.
- A biopic named Silent Victory: The Kitty O’Neil Story, was released in 1979, and she received the Oscars in Memoriam award in 2019. She died of pneumonia in 2018 at the age of 72.
Income tax dept launches mobile app AIS for Taxpayers
Income tax dept launches mobile app AIS for Taxpayers: On March 22, the Income Tax Department launched the “AIS for Taxpayer” mobile application, which allows taxpayers to view their tax-related information in the Annual Information Statement (AIS) or Taxpayer Information Summary (TIS). The app has become essential and beneficial since starting from the new financial year on April 1, Form 26AS will only show information related to tax deducted at source (TDS) and tax collection at source (TCS).
March 2023 Current Affairs Quiz
More About The app “AIS for Taxpayer”:
Taxpayers need to refer to the AIS for various details, including installments of advance tax paid, self-assessment tax, income-tax refund, Statement of Financial Transactions (SFT), and turnover as per Goods and Service Tax (GST) return, among other things.
What is an Annual Information Statement(AIS)?:
Taxpayers can get a detailed summary of their information from Form 26AS by referring to the Annual Information Statement (AIS). The AIS not only provides a thorough overview of the taxpayer’s information, but it also includes a feedback mechanism.
Each section of the AIS includes reported and modified values based on the feedback received from taxpayers. The objectives of the AIS are to provide taxpayers with complete information and an opportunity to give online feedback, promote voluntary compliance, and enable easy prefilling of tax returns.
L&T signs agreement with France-based McPhy for electrolyzer manufacturing
L&T signs agreement with France-based McPhy for electrolyzer manufacturing: Larsen & Toubro (L&T), an Indian multinational specialising in EPC projects, high-tech manufacturing, and services, has entered into a binding agreement with McPhy Energy, a leading electrolyzer technology and manufacturing company based in France. The agreement establishes a long-term partnership between the two companies to explore opportunities in the emerging green hydrogen market. Specifically, L&T and McPhy Energy will collaborate on electrolyzer manufacturing, which is a key technology for the production of green hydrogen.
March 2023 Current Affairs Quiz
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As part of the partnership, McPhy Energy has granted L&T an exclusive license to use its pressurized alkaline electrolyzer technology for manufacturing electrolyzers, including future upgrades. L&T plans to establish a large-scale manufacturing facility in India for electrolyzers based on McPhy’s technology. The facility will produce electrolyzers for both domestic and international markets. This partnership is in line with L&T’s strategy to expand its presence in the green energy value chain and supports McPhy’s goal of expanding beyond Europe. According to estimates, India’s green hydrogen production capacity is expected to increase to at least 5 MMTPA by 2030, which will require investments of more than $100 billion.
Important takeaways for all competitive exams:
- Larsen & Toubro (L&T) CEO: S N Subrahmanyan (Jul 2017–);
- Larsen & Toubro (L&T) Founded: 7 February 1946, Mumbai;
- Larsen & Toubro (L&T) Headquarters: Mumbai
Himanta Biswa Sarma launches Mission Lifestyle for Environment(LiFE) in Assam
Himanta Biswa Sarma launches Mission Lifestyle for Environment(LiFE) in Assam: Himanta Biswa Sarma, the Chief Minister of Assam, launched the state’s ‘Mission Lifestyle for Environment’ (LiFE), a global mass movement led by Prime Minister Narendra Modi. Sarma stated that the initiative aims to encourage an environmentally conscious lifestyle, with a focus on utilizing resources rather than engaging in wasteful consumption.
March 2023 Current Affairs Quiz
Significance of the Mission Lifestyle for Environment (LiFE) initiative:
- Various week-long activities will be held across all districts in Assam as part of the Mission Lifestyle for Environment (LiFE) initiative. These activities will target seven identified categories, including energy and water conservation, reducing plastic and e-waste, and promoting healthy lifestyles, according to Sarma.
- He emphasised that human actions against nature have resulted in a slew of issues for humans, plants, and animals.
- Due to deforestation, loss of wetlands, and other natural bodies, seasonal changes have become unpredictable, and research suggests that North East India will suffer severe consequences of climate change.
- To promote a healthy environment, the state government has cleared over 6,000 acres of land by removing encroachments over the past two years, as stated by the Chief Minister.
What is Mission LiFE:
- India’s Mission LiFe is a global initiative that aims to aid the world in combatting climate change and promote a sustainable way of life to attain the United Nations’ set sustainable development goals.
- India introduced the concept of LiFE during the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow in 2021 to promote an environmentally conscious lifestyle that emphasises “mindful and deliberate utilisation” instead of “mindless and wasteful consumption”.
- On June 5th, 2022, India launched the LiFE Global Movement, calling on academics, researchers, and startups around the world to devise specific and scientific ways to harness the full potential of collective action to address the environmental crisis. The Mission is founded on the P3 model, which stands for Pro Planet People, and emphasises a “Lifestyle of the planet, for the planet, and by the planet.”