Daily Current Affairs March 24
Have complete information about National News by reading below Current Affairs March 24.
Soldiers to get new rifles & LMGs worth 5.000 crores.
- The central government has decided to acquire new assault rifles, light machine guns and close quarter battle carbines.
- which were promised for infantry soldiers deployed on the borders with China and Pakistan under the fast-track procedure (FTP).
- Defense ministry has processed the initial tenders or RFPs (requests for proposal) for 72,400 assault rifles, 93,895 CQB carbines and 16,479 light machine guns.
- The consignment will cost an estimated Rs 5,366 crore.
- The force had first asked for new assault rifles and CQB carbines for its 382 infantry battalions (each with 850 soldiers each) in 2005, while the light machine guns was initiated in 2009.
- The overall requirement is for 8.16 lakh new 7.62x51mm caliber assault rifles to replace the existing glitch-prone 5.56mm INSAS (Indian small arms system) rifles.
- Similarly, 4.58 lakh close-quarter battle carbines (5.56 x 45mm) and 43,544 for light machine guns (7.62x51mm) are required.
Air India creates history by flying through Saudi Air Space.
- Air India flew to Tel Aviv through Saudi Arabia for the first time after the Arab country’s relations soured with Israel.
- The travel time thus was reduced substantially.
- Saudi Arabia allowed the airline to use its airspace, enabling it to take a shorter route, covering the distance in 7.25 hours, about 2.10 hours.
- Israel’s national carrier El Al is the only other airline which flies between Israel and India.
- Flight AI 139 landed at Tel Aviv’s Ben Gurion airport at 2215 PM (Israeli time) yesterday.
- Israeli Prime Minister Benjamin Netanyahu had raised the matter of the route with Indian Prime Minister Narendra Modi.
- The route will also lower fares and boost investment and tourism from India to Israel.
- Many Arab and Islamic nations do not recognize Israel and, therefore, disallow airlines from using their airspace for flight services to that country.
International Affairs – Current Affairs March 24
Latest International Current Affairs March 24 Updates from around the globe.
North and South Koreas to hold high-level talks.
- The rival Koreas have agreed to hold high-level talks next week to prepare for an April summit.
- North Korean leader Kim Jong Un and South Korean President Moon Jae-in, South Korea are expected to attend the summit.
- The summit aims to improve relations and resolve the standoff over the North’s nuclear program.
- Unification Minister Cho Myoung-gyon will lead the South’s delegation at the March 29 meeting at the border village of Panmunjom.
- The North’s delegation will be led by Ri Son Gwon, chairman of the North’s agency that deals with inter-Korean affairs.
- Both countries have agreed to a summit in late April when Moon’s envoys visited Kim in Pyongyang earlier this month.
- The two Koreas have held talks only twice since the 1950-53 Korean War.
South Korean President Moon Jae-in to visit Vietnam.
- Vietnam and South Korean aim to deepen bilateral trade relations during President Moon Jae-in’s three-day visit to Vietnam.
- South Korea has become Vietnam’s largest foreign investor and second-biggest trading partner since 1992.
- Bilateral trade between the two countries last year was $61.5 billion.
- During a joint news briefing with Vietnamese President Tran Dai Quang in Hanoi, Moon said the two leaders aim for $ 100 billion by 2020.
- Moon encouraged South Korean companies to expand their investments in Vietnam in infrastructure, high-tech industries, energy and supporting industries.
- The two leaders signed several agreements promoting trade, transport, labor and infrastructure cooperation.
Business News – March 24 2018 Current Affairs
Check out the latest trending business Current Affairs March 24 updates by reading the news.
Saavn and JioMusic merge to create a new $1bn entity.
- Reliance Industries (RIL) is merging its digital music company JioMusic with Saavn.
- The merger will create a $1-billion entity.
- Reliance Jio will get access to a large library of music content with the merger.
- Earlier this month RIL had acquired a 5% stake in media firm Eros International.
- The combined entity is valued at over $1 billion, with JioMusic’s implied valuation at $670 million.
- RIL will invest up to $100 million in the new entity, of which $20 million will be invested upfront for growth and expansion of the platform.
- The three co-founders of Saavn — Rishi Malhotra, Paramdeep Singh and Vinodh Bhat will continue in their current roles.
Tata Steel won the bid to acquire Bhushan Steel.
- Tata Steel has won a bid to acquire bankrupt Bhushan Steel Ltd for an undisclosed cash deal.
- The new deal made Tata firm India’s biggest steel maker.
- Sources at Bhushan Steel said there was an unpaid bank debt of over Rs 48,000 crore, would cost around Rs 35,000 crore.
- Tata Steel has been selected as a successful resolution applicant by Committee of Creditors for buying Bhushan Steel.
- However, the decision still requires approvals from National Company Law Tribunal (NCLT) and the Competition Commission of India (CCI).
Appointments and Resignations – Current Affairs March 24
Check the latest appointments and resignations of important boards, companies, Governments in India – Current Updates on March 24.
Union government appoints Rakesh Bhatnagar as the Vice Chancellor of Banaras Hindu University.
- The Union government JNU professor Rakesh Bhatnagar as the new Vice-Chancellor of Banaras Hindu University.
- Bhatnagar is a professor of biotechnology at JNU.
- He will be succeeding G C Tripathi, who retired in November 2017.
- President Ram Nath Kovind approved Bhatnagar’s candidature forwarded by the search-cum-selection committee headed by economist Vijay Kelkar.
- Scientist Ramakrishna Ramaswamy of JNU, and Devendra Kumar Gupta, a pediatric surgeon at AIIMS, were the other two candidates.
- Bhatnagar has been at JNU for two decades and his areas of interest include molecular biology of infectious diseases, recombinant vaccine development and programmed cell death in prokaryotes.
- He is a JC Bose National Fellow and has won the ICMR award for developing a recombinant vaccine against anthrax.
- Along with patents to his name, In 2016, he was given the Visitor’s Award in the innovation category.
- He was V-C of Kumaon University from 2012 to 2013.
Praveer Sinha appointed as the CEO of Tata Power.
- Tata Power announced Praveer Sinha as the Chief Executive Officer of Tata Power from May 1.
- The change comes at a time when the company is grappling with issues like losses at its Mundra power plant and debts of over Rs 46,000 crore, among others.
- Sinha, 55, has been the head of the company’s power distribution unit in New Delhi for several years.
- Sinha had reduced the plant’s aggregate technical and commercial losses from 84% to about 9%.
- Praveer Sinha will succeed Anil Sardana, according to the company’s January statement, was leaving due to personal reasons.
- Sardana is a former NTPC executive who joined Tata Power’s New Delhi distribution company in 2002.
Sports Updates – Current Affairs March 24
Current Affairs March 24 is bringing you with Records, titles and other updates from the world of sports.
Virat Kohli to play County Cricket in England after IPL 2018.
- Indian Skipper Virat Kohli will play county cricket this summer in England.
- Kohli is set to fly to England immediately after the Indian Premier League (IPL) final on May 27.
- The moves of Kohli have been carefully planned and the county stint is thought to be central to Team India’s strategy for the July- September England series.
- Virat will not be able to take part in the Test against Afghanistan, scheduled in Bangalore from June 14.
- It has not been confirmed which county will Kohli be representing, but it could be Essex.
- Cheteshwar Pujara (Yorkshire) and Ishant Sharma (Sussex) have already signed up for county sides.
Benoit Paire beats Novak Djokovic at Miami Open.
- Novak Djokovic lost his opening match on Friday in the Miami Open to Benoit Paire, 6-3, 6-4.
- The defeat was Djokovic’s third in a row.
- Djokovic dropped serve four times, returned poorly and had difficulty anticipating his 47th-ranked Paire.
- Meanwhile, Naomi Osaka’s breakthrough winning streak ended with a loss to No. 4-seeded Elina Svitolina 6-4, 6-2.
- Osaka had earlier defeated eight-time champion Serena Williams in the first round.
- He missed last year’s Miami Open but won the title three consecutive years in 2014-16.
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