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Daily Current Affairs 8th March 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 8th March 2024. It includes all Major National, International, Business and Sports related current affairs of 8th March 2024. 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 8th March 2024 Current affairs test.

National News

Hike in Dearness Allowance and Relief for Central Employees and Pensioners Announced

  • The Central Government has approved a 4% increase in Dearness Allowance (DA) and Dearness Relief (DR) for its employees and retirees from January 1, affecting over 10 million workers and nearly 6.79 million retired personnel.
  • This adjustment will lead to an annual financial impact of Rs 12,869 crore. Starting January 1, 2024, the updated DA will be 50% of the basic salary, with any due arrears to be disbursed to the beneficiaries.

6th Annual Jan Aushadhi Diwas Celebration

  • The nation celebrates Jan Aushadhi Diwas on March 7 annually to promote awareness of generic medicines’ importance and benefits.
  • The day underscores the Pradhan Mantri Bhartiya Janaushadhi Pariyojana’s (PMBJP) role in making healthcare accessible and affordable.
  • The 2024 event marks the 6th anniversary of this initiative, reflecting the government’s dedication to public health.

International News

New Insurance Scheme for Indian Blue-Collar Workers in the UAE Introduced

  • The Indian Consulate in Dubai has rolled out the Life Protection Plan (LPP), a novel insurance package for Indian blue-collar workers in the UAE, covering natural and accidental deaths.
  • The plan, effective from March 1, 2023, is designed to provide financial security to the workers’ families in unforeseen circumstances.

State News

Launch of New STPI Centers in Kerala by Union Minister Rajeev Chandrasekhar

  • During the 4th Semicon India FutureDesign Roadshow, Minister Rajeev Chandrasekhar announced a crucial MoU between IBM and C-DAC to enhance India’s capabilities in processor design and manufacturing for High-Performance Computing (HPC).
  • Additionally, to support the IT and startup ecosystem in Kerala, he inaugurated new Software Technology Parks of India (STPI) centers in Thiruvananthapuram and Kochi.

Prime Minister Modi Promotes ‘Wed in India’ Initiative in Jammu & Kashmir

  • Prime Minister Narendra Modi has launched an initiative to position India, especially Jammu & Kashmir, as a prime destination for weddings to foster tourism and retain revenue within the country.
  • Speaking at a rally in Srinagar, he highlighted the initiative as a means to spur economic development through tourism.

India’s First Driverless Metro Line Coming to Bengaluru

  • The Bengaluru Metro Rail Corporation Limited (BMRCL) has received the first set of six coaches for the Yellow Line, an 18.8 km driverless metro line between RV Road and Bommasandra.
  • This line, which will employ the Communication-based Train Control (CBTC) system for operation, marks a significant advancement in India’s public transportation system.

Defence News

Indian Armed Forces to Undertake ‘Bharat-Shakti’ Exercise in Jaisalmer

  • A major tri-service exercise, ‘Bharat-Shakti,’ is set to take place in Jaisalmer, Rajasthan, showcasing the Indian Army, Navy, and Air Force’s capabilities.
  • This exercise will exclusively feature indigenously developed weapons, emphasizing India’s self-reliance in defense manufacturing.

Banking News

Infibeam Avenues Receives RBI’s Approval for Payment Aggregator License

  • Infibeam Avenues, a leader in India’s fintech space and the first listed company in the sector, has received authorization from the Reserve Bank of India (RBI) to operate as a payment aggregator.
  • This approval positions Infibeam Avenues prominently in the digital payments ecosystem, following the RBI’s Payment Aggregator framework established in March 2020.

Business News

Indian Oil Ventures into Formula 1 Fuel Production

  • Indian Oil Corporation Ltd (IOC) is set to enter the motorsports arena by producing specialized fuel for Formula One racing.
  • Named ‘Storm’ petrol, this initiative is part of IOC’s effort to cater to the niche market of high-performance motorsports fuel, aiming to produce Category-1 and Formula 1 grade fuel within a short timeframe.

Important Days News

International Women’s Day 2024 Celebrated Globally

  • The world celebrates International Women’s Day on March 8th annually, recognizing women’s achievements across various fields.
  • The 2024 theme, ‘Invest in Women Accelerate Progress,’ chosen by the United Nations, focuses on advocating for gender equality and celebrating women’s contributions globally.

Observance of Mahashivratri 2024

  • Mahashivratri, celebrated on March 8th, 2024, is a significant Hindu festival dedicated to Lord Shiva, symbolizing the triumph of light over darkness.
  • It’s a time for devotion, meditation, and fasting, with believers seeking spiritual awakening and divine blessings.

Schemes News

UNNATI Scheme 2024 Approved by Union Cabinet

  • The Union Cabinet has approved the Uttar Poorva Transformative Industrialization Scheme (UNNATI – 2024) to boost industrial growth in the North East Region, with an allocation of Rs. 10,037 crore over ten years.
  • This scheme aims to stimulate economic development and job creation in the area.

Agreements News

Sweden Becomes 32nd Member of NATO

  • Sweden has officially joined NATO as its 32nd member, marking a historic shift from its over 200-year stance of neutrality.
  • This move, spurred by security concerns following Russia’s invasion of Ukraine, signifies Sweden’s alignment with NATO’s collective security principles.

RBI and Bank Indonesia Sign Agreement to Enhance Local Currency Use

  • The Reserve Bank of India and Bank Indonesia have signed a Memorandum of Understanding to promote the use of the Indian Rupee and Indonesian Rupiah in cross-border transactions.
  • This agreement aims to facilitate trade and financial integration between the two countries.

NIGEL Secures Contract for 600 MW Solar Project with GUVNL

  • NLCIL has been awarded a 600 MW solar project by GUVNL, estimated to produce 1,577.88 Million Units annually.
  • This project is part of the GSECL Khavda Solar Park and is expected to reduce carbon emissions significantly over its lifetime.

Appointments News

SAP Appoints New Leader for Indian Subcontinent

  • SAP has named Manish Prasad as its new President and Managing Director for the Indian Subcontinent, succeeding Kulmeet Bawa.
  • Prasad’s leadership will focus on driving cloud transformation and digital innovation across various industries in the region.

Awards News

Zoya Akhtar and Asma Khan Recognized at India-UK Achievers’ Awards

  • Filmmaker Zoya Akhtar and Chef Asma Khan were honored at the India-UK Achievers’ awards in London for their contributions to fostering understanding between India and the UK.
  • Akhtar received the Living Legend Award for her cinematic achievements.

Sports News

Sansad Khel Mahakumbh 3.0 Kicks Off in Himachal Pradesh

  • The third edition of the Sansad Khel Mahakumbh was inaugurated by Union Minister Anurag Singh Thakur in Bilaspur, Himachal Pradesh, with notable attendees including Indian cricket team captain Rohit Sharma and coach Rahul Dravid.
  • This event is the largest platform for athletes from the Hamirpur constituency to showcase their skills.

Science & Technology News

ISRO Prepares for Chandrayaan-4 Lunar Mission

  • ISRO’s next lunar mission, Chandrayaan-4, is underway, featuring five spacecraft modules to be launched in two phases using India’s heaviest launch vehicle, LVM-3.
  • This mission marks a significant step in ISRO’s exploration endeavors.

Cabinet Endorses IndiaAI Mission with Substantial Funding

  • The Indian Cabinet has approved the IndiaAI mission with a budget of Rs. 10,372 crore, aiming to foster AI innovation and establish a leading AI ecosystem through public-private partnerships.
  • This initiative underscores India’s commitment to technological advancement.

Introduction of ChipIN Center for Semiconductor Development

  • Union Minister Rajeev Chandrasekhar has launched the ChipIN Centre at the Vikram Sarabhai Space Centre, aiming to advance semiconductor design and innovation in India.
  • This facility will provide access to advanced design tools and technologies, supporting research and industry collaboration.

Miscellaneous News

Sahityotsav: World’s Largest Literary Festival Announced

  • The Sahitya Akademi commemorates its 70th anniversary with Sahityotsav, the world’s largest literary festival, featuring over 190 sessions.
  • Esteemed writer and lyricist Gulzar will deliver the Samvatsar lecture, adding to the festival’s prominence.


New Regulations for Exotic Wildlife Possession in India

  • India has introduced the Living Animal Species (Reporting and Registration) Rules, 2024, to regulate exotic pet ownership and trade, adhering to CITES conventions.
  • These rules mandate the registration of exotic pets with state wildlife departments, aiming to protect endangered species.
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