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Daily Current Affairs 18th February 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 18th February2024. It includes all Major National, International, Business and Sports related current affairs of 18th February2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 18th February2024 Current affairs test.



National News

1. Advisory on FASTag Usage by IHMCL

  • The Indian Highways Management Company Limited (IHMCL), the toll collection arm of the National Highways Authority of India (NHAI), has recommended travelers use FASTags issued by 32 specified banks, excluding Paytm Payments Bank. This directive aims to streamline toll payments and ensure smooth highway travel.
  • The list of approved banks includes Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank among others, reflecting a comprehensive effort to facilitate convenient travel.

2. Supreme Court’s Directive on Electoral Bonds

  • The Supreme Court of India has ordered the State Bank of India to stop issuing electoral bonds immediately. These bonds, which enable anonymous donations to political parties, can be purchased in denominations from Rs 1,000 to Rs 1 crore through a KYC-compliant account at specific SBI branches.
  • Eligible political parties for these contributions are those that have secured at least 1% of the votes in the most recent general or state elections, as defined under Section 29A of the Representation of the People Act, 1951.

3. LIC’s Launch of “Amritbaal”

  • The Life Insurance Corporation of India (LIC) has introduced “Amritbaal,” a non-linked, non-participating, individual savings life insurance plan for children. This plan is designed to provide financial security for future educational and other significant needs of children.

4. SBI’s Digital Inclusion Initiative

  • The State Bank of India has initiated a self-service enrollment process for the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY), allowing customers to enroll digitally without visiting a bank branch.

5. IRDAI Proposes Extension of “Free Look” Period

  • The Insurance Regulatory and Development Authority of India (IRDAI) has proposed extending the “free look” period for insurance policies from 15 days to 30 days. This amendment is intended to enhance consumer protection by allowing more time to reconsider insurance commitments.

6. Increase in FCI’s Authorized Capital

  • The Government of India has raised the authorized capital of the Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore. This move aims to strengthen FCI’s operational capabilities in procurement, storage, distribution, and market stabilization of food grains.

7. Projection of India’s Natural Gas Demand Increase

  • The International Energy Agency (IEA) forecasts a 6% increase in India’s natural gas demand in 2024, with a corresponding 7% rise in Liquefied Natural Gas (LNG) imports. This growth is expected to support higher consumption in the fertilizer, power generation, and industrial sectors.

8. Tesla Announces Production of New EV Model “Redwood”

  • Tesla has revealed plans to begin production of a new electric vehicle (EV) model, “Redwood,” in its Texas factory by the second half of 2025. The model includes a $25,000 entry-level car, aiming to expand Tesla’s market presence by offering more affordable EV options.

9. The 69th Hyundai Filmfare Awards 2024

  • Held in partnership with Gujarat Tourism, the 69th Hyundai Filmfare Awards 2024 recognized excellence in the Hindi film industry. “12th Fail” and “Joram” won Best Film in the popular and critics’ categories, respectively, showcasing the talents of notable industry figures.

10. Mahindra & Mahindra Financial Services and IBM’s Strategic Partnership

  • Mahindra & Mahindra Financial Services Limited has collaborated with IBM to develop a “Super App,” aiming to offer a wide range of digital financial services through a single platform, emphasizing digital financial inclusion.

11 Pixxel’s commitment to advancing global space industry capabilities with its Bengaluru-based satellite manufacturing unit, Mega Pixxel. The facility is designed to assemble, integrate, and test up to 40 satellites annually, marking a significant step in Pixxel’s journey towards becoming a prominent player in the space sector.

12. Australia Secures ICC U19 World Cup Title

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  • Australia emerged victorious over India with a 79-run lead, claiming their fourth ICC U19 World Cup title. Setting a formidable target of 253 runs in 50 overs, Australia’s performance exemplifies their dominance in under-19 cricket and highlights the competitive spirit that defines international cricket tournaments.
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