Daily Current Affairs  – 2 March 2022

In News Cash-strapped Egypt has increased transit fees for ships passing through the Suez Canal with hikes of up to 10%. About The Suez Canal is an artificial sea-level waterway running north to south across the Isthmus of Suez in Egypt, to connect the Mediterranean Sea and the Red Sea. The canal separates the African […]

In News Turkey is activating the Montreux Convention in response to Russia’s invasion of Ukraine. About Meaning: Turkey is set to implement an international convention on naval passage through two of its strategic straits, which would allow them to limit the movement of Russian warships between the Mediterranean Sea and the Black Sea. Significance of […]

In News  Investments in the Indian capital market through Participatory notes (P-notes) dropped to ?87,989 crore at the end of January and experts believe that foreign investors will continue with their negative stance amid the Ukraine crisis. About Participatory notes (P-notes) P-Notes are financial instruments required by investors or hedge funds to invest in Indian […]

In News Pension Fund Regulatory and Development Authority (PFRDA) is preparing to launch Minimum Assured Return Scheme (MARS). Minimum Assured Return Scheme (MARS) Aim:  To have a separate scheme that can offer a guaranteed minimum rate of return to NPS subscribers, especially those who are risk averse.  Currently, the NPS gives returns annually, based on […]

In Context  Odisha government has planned to run the Sun Temple completely on solar energy Konark is going to be the first model town in Odisha to shift from grid dependency to green energy. About  Konark Sun Temple Location:  Konark is situated at a comfortable distance from the famous religious and tourist centre of Puri […]

In News  The Gross Goods and Services Tax (GST) revenue in February was 26% higher than pre-pandemic levels, the Finance Ministry said. About the latest trend Revenues from import of goods were 38% higher year-on-year. Revenues from domestic transactions (including import of services) were 12% higher than the revenues from these sources during 2021. A […]

In Context India faces uncertainty over timely deliveries of defence supplies in the near future due tensions escalating between Russia and the West over the Ukraine crisis. About  Russia is the second largest arms exporter in the world, following only the United States.  In the five-year period between 2016 and 2020 America’s share in the […]

In News  The Prime Minister of India announced the celebration of Jan Aushadhi Diwas every year on 07th March to educate the general public about the benefits of the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP). About Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP). Origin : Jan Aushadhi Scheme’ was launched by the Department of Pharmaceuticals, Ministry […]

In News The Union government has allowed manufacture and import of machine-made polyester national flags by amending the 2002 Flag Code of India. History The Indian flag was adopted in its present form during a meeting of the Constituent Assembly held on July 22, 1947. The first national flag, which consisted of three horizontal stripes […]