LEGAL NEWS

Parliament Passes Banking Laws (Amendment) Bill 2024

• The Banking Laws (Amendment) Bill 2024 was approved by the Rajya Sabha on 26th March after being passed by the Lok Sabha.

• The bill amends several key banking acts, including:

✓ Reserve Bank of India Act, 1934

✓ Banking Regulation Act, 1949

✓ State Bank of India Act, 1955

✓ Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980.

• It proposes increasing the number of nominees per bank account from one to four.

• The bill aims to redefine "substantial interest" for directorships, raising the limit from ₹5 lakh to ₹2 crore.

• It also empowers banks to set the remuneration for their auditors.

• Public sector banks reported their highest-ever net profit of ₹1.41 lakh crore in 2024.

STATE NEWS

Kerala Establishes Senior Citizens Commission

• Kerala becomes the first state in India to create a Senior Citizens Commission.

• The commission will address challenges faced by the elderly, such as neglect, exploitation, and loneliness.

• Its focus will be on utilizing senior citizens' skills for the betterment of society.

• The commission will work towards protecting the rights, welfare, and rehabilitation of the elderly.

• It will play a pivotal role in improving elderly welfare and ensuring their well-being.

• The Kerala Legislative Assembly passed the Kerala State Senior Citizens Commission Bill to establish the commission.

ASI Discovers Over 100 Megaliths Near Malampuzha Dam, Kerala

• Over 100 megaliths have been discovered near Malampuzha Dam in Palakkad, Kerala by the Archaeological Survey of India (ASI).

• These megalithic structures were likely used for burial purposes, constructed with large, often rough stones.

• The structures were built without the use of mortar or cement and date back to the Neolithic and Bronze Ages.

• ASI's excavations are ongoing at Ratnagiri, about 100 km from Bhubaneswar, unveiling ancient art, architecture, and culture.

• The excavations have revealed a significant collection of antiquities.

• The focus of the dig is the development of the Vajrayana monastic complex from the early medieval period in Eastern India.

• A rectangular chaitya complex, built with brick and stone masonry, has been discovered.

• Along with the complex, three colossal Buddha heads have been unearthed.

• The site also features monolithic stupas with Buddhist deities such as Tara, Chunda, Manjusri, and Dhyani Buddha.

APPOINTMENTS

Rajiv Gauba Appointed as NITI Aayog’s Full-Time Member

• Rajiv Gauba, former Cabinet Secretary, has been appointed as a full-time member of NITI Aayog.

• Gauba is a 1982-batch IAS officer from the Jharkhand cadre.

• He served as Cabinet Secretary from August 30, 2019, to August 30, 2024.

• He has held significant positions including Union Home Secretary, Secretary of Urban Development, and Chief Secretary of Jharkhand.

• The Prime Minister has approved his appointment, and he will serve as a full-time member of NITI Aayog under the same terms as other members.

Ajay Seth Appointed New Finance Secretary of India

• Ajay Seth, Secretary of the Department of Economic Affairs (DEA), has been appointed as the new Finance Secretary of India.

• He succeeds Tuhin Kanta Pandey, who has been appointed Chairman of the Securities and Exchange Board of India (SEBI).

• Ajay Seth was recently given the additional charge of Secretary, Department of Revenue by the central government.

• Tuhin Kanta Pandey took over as SEBI Chairman in February 2025, replacing Madhabi Puri Buch, who completed her term.

GOVERNMENT SCHEMES

Government Launches 'Baalpan ki Kavita' Initiative

• The 'Baalpan ki Kavita' initiative aims to promote Indian languages in early childhood education.

• Launched by the Ministry of Education through the Department of School Education & Literacy, this initiative aligns with the National Education Policy 2020.

• The goal is to create a compendium of nursery rhymes and poems in all Indian languages and English.

• The initiative seeks to provide joyful and contextually relevant learning materials for young learners.

• Contributions are invited from the public via MyGov to submit existing or newly composed poems and rhymes.

• Both traditional folklore rhymes and newly created joyful poems can be submitted as part of the initiative.

Launch of 'Ripples of Change' on Women-Led Rural WASH Initiatives

• On 26 March, Jal Shakti Minister CR Paatil launched the book 'Ripples of Change: Gender-transformative Rural WASH Programs in India'.

• The Department of Drinking Water and Sanitation (DDWS), in partnership with UNICEF India, published the book.

• 'Ripples of Change' features ten impactful stories from rural India, highlighting the success of Swachh Bharat Mission (Gramin) and Jal Jeevan Mission.

• These stories emphasize gender empowerment, community leadership, and grassroots innovation in rural WASH programs.

• Alongside the book launch, Minister Paatil introduced the newly revamped Department of Drinking Water and Sanitation (WASH) website.

• The upgraded website aligns with the latest Digital Brand Identity Manual (DBIM) and Guidelines for Indian Government Websites (GIGW) 3.0, making it one of the first government platforms to adopt these standards.

• The new website aims to improve accessibility, efficiency, and user trust.

DEFENCE

INS 'Tavasya' Commissioned: India's New Stealth Frigate

• The Indian Navy has commissioned the Krivak-class stealth frigate, INS ‘Tavasya’, at Goa Shipyard.

• The Krivak-class frigates, contracted from Russia, are being built at Goa Shipyard Limited (GSL).

• The first of the two frigates, Triput, was launched at GSL in July 2024.

• Both Triput and Tavasya are equipped with a significant amount of indigenous equipment, weapons, and sensors.

• GSL is on track to deliver the first ship to the Indian Navy in 2026, with the second to follow six months later.

• In October 2016, India and Russia signed an agreement for four additional follow-on stealth frigates.

• The second frigate, Tamal, is undergoing advanced trials and is expected to be commissioned in June 2025.

Indian Navy to Participate in 'Africa-India Key Maritime Engagement' (AIKEYME) Exercise

• The Indian Navy will join the AIKEYME exercise with several African nations to improve naval interoperability and maritime cooperation.

• The first edition of AIKEYME is being co-hosted by the Indian Navy and Tanzania People’s Defence Force (TPDF).

• The exercise will take place in Dar-es-Salaam, Tanzania, with Defence Minister Rajnath Singh inaugurating it in mid-April 2025.

• Eight African nations—Comoros, Djibouti, Eritrea, Kenya, Madagascar, Mauritius, Mozambique, Seychelles, and South Africa—will take part in the exercise.

• The Harbour Phase will include Tabletop and Command Post exercises focused on piracy, information sharing, and seamanship.

• The Sea Phase will feature Search and Rescue (SAR) drills, VBSS exercises, small arms firing, and helicopter operations.