NATIONAL:
1. Surekha Yadav
Why in news – Surekha Yadav became the first woman loco pilot of Vande Bharat Express.
Key Points –
• She operated Vande Bharat Express from Solapur to Chhatrapati Shivaji Maharaj Terminal (CSMT) in Maharashtra.
• Surekha Yadav became the country's first female train driver in 1988.
• She is also Asia's first female locomotive pilot.
• Mumtaz Kazi (ladies' special train) - First suburban motor woman of Asia.
2. Longest Railway Platform
Why in news – PM Modi inaugurated world's longest railway platform in Hubballi-Dharwad, Karnataka.
Key Points –
• Station name - Shree Siddharoodha Swamiji station.
• The 1,507-metre-long platform has been built at a cost of about ₹20 crores.
INTERNATIONAL:
1. US Bank Collapse
Why in news – Silicon Valley Bank (SVB) and Signature Bank of USA collapsed on March 10 and March 12, 2023 respectively.
Key Points –
• The tech startup industry is the biggest customer of SVB with a large number of Indian start-ups, especially in the SaaS (software as a service) sector.
• Signature Bank has a big lender in the crypto industry.
• Bank term funding program (BTFP) – It is a facility created by the US Federal Reserve that allows banks to offer high quality securities as collateral for cash at par value, meaning banks can monetize these securities holdings well above the market value.
• Largest bank failures in U.S. history –
A. Washington Mutual, Seattle, Washington (2008, nominal assets - $307 billion).
B. Silicon Valley Bank (SVB), California (2023, nominal assets - $209 billion).
C. Signature Bank, New York (2023, nominal assets - $118 billion).
2. Saudi Arabia – Iran Deal
Why in news – Saudi Arabia and Iran have announced the restoration of diplomatic ties.
Key Points –
• China acted as peace broker for the historic deal.
• 4 days of undisclosed talks held in Beijing.
• Iran and Saudi Arabia would patch up a 7-year split. Ties were severed since 2016.
History of Regional Rivalry –
• The rivalry between Saudi Arabia (Sunni) and Iran (Shia) is rooted in Islamic sectarianism.
• In modern times, this sectarian rivalry has translated into a tussle for regional hegemony.
• Both sides are involved in multiple proxy conflicts against each other in Iraq, Lebanon, Syria and Yemen.
3. Colombian Army
Why in news – Colombia opened military service to women for the first time in 25 years.
Key Points –
• A cohort of 1,296 women have been enlisted in Colombia’s Army in February 2023.
• Colombia is a country in South America that opens in both Pacific and Atlantic ocean.
ECONOMY:
1. Hindu Rate of Growth
Why in news – Former RBI Governor Raghuram Rajan feels India is “dangerously close” to the “Hindu rate of growth”.
Key Points –
• He stated that the sequential slowdown in the quarterly growth was worrying.
• As per National Statistical Office (NSO), India’s GDP grew at just 4.4% in the quarter ending December 2022.
About Hindu Rate of Growth –
• It was coined by Indian economist Raj Krishna.
• It has been in use in India’s economic history literature since 1982.
• It a polemical device intended to draw attention to the meagre 3.5% growth rate experienced by India over the long run.
• It remained steady through changes in governments, wars, famines, and other crises, made it an inherently cultural phenomenon.
2. Cancellation of NBFCs
Why in news – The Reserve Bank of India cancelled the Certificate of Registration (CoR) of 17 non-banking financial companies (NBFCs).
Key Points –
• It was done under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
• In 2022, three NBFCs on December 13 surrendered their certificate of registration to the RBI.
ENVIRONMENT:
1. Mudumalai National Park
Why in news – Oscar winner documentary “The Elephant Whisperers” was shot in the Mudumalai National Park.
Key Points –
About Mudumalai National Park (1990) –
• Location - Nilgiris District (Tamil Nadu), at the tri-junction of Karnataka, Kerala and Tamil Nadu.
• It was designated as a tiger reserve by the Tamil Nadu state government in April 2007.
• It is part of the Nilgiri Biosphere Reserve.
• The Moyar River flows into the Mudumalai Tiger Reserve.
• It is home to tall grasses known as "Elephant Grass".
• Tiger and Asian Elephant are the two flagship species.
• It is home to 8% of all bird species found in India.
SCIENCE – TECHNOLOGY:
1. V883 Orionis
Why in news - Astronomers have discovered gaseous water in the planet-forming disc around the star V883 Orionis.
Key Points –
• They have used the Atacama Large Millimeter/submillimeter Array (ALMA) for the discovery.
• It supports the idea that the water on earth is even older than the Sun.
• Comets could have delivered water to our planet.
• Research team - Part of the European Southern Observatory, (ESO).