• CCI notified three regulations dealing with Global turnover, Commitment and Settlement under the Competition (Amendment) Act 2023.

• Key highlights of new regulations
  • Penalties would now be levied based on ‘global turnover’.
    • Need for this arose from abuse of dominant position by enterprises.
  • Commitment and Settlement aim to resolve competition law concerns efficiently and without the need for a lengthy legal process.
    • Commitment refers to process where a company under investigation offers to change its business practices to address concerns raised.
    • Settlement typically involves a negotiated agreement for reduced fines.

• US envoy to Lebanon emphasised situation along the blue line has to change to guarantee peace and security.

• About Blue line
  • Israel and Lebanon have no official border separating them, except the Blue Line.
  • It was set by the United Nations in 2000.  It is made of blue barrels and runs from the Mediterranean to the Golan Heights to the east.
  • Its purpose was to confirm the withdrawal of Israeli forces from the south of Lebanon.

• Note: Blue Line is also a learning ecosystem created by the UN System Staff College. 

• At 20th meet of US-India Counterterrorism Joint Working Group, US and India reaffirmed commitment to cooperation in GCTF for shared security interests within Indo-Pacific.

• About GCTF
  • Launched in 2011, it is an informal, apolitical, multilateral counterterrorism platform.
  • Mission: To diminish terrorist recruitment and increase countries’ civilian capabilities for dealing with terrorist threats within their borders and regions.
  • Members: Currently it has 32 members, including India which is its founding members.
    • Currently, it is being co-chaired by Egypt and the European Union.

• CSIR-Indian Institute of Petroleum has signed a MoU with Uttarakhand State Council for Science and Technology to deploy the technology of making fuel from Pine Needles (pointed leaves of a pine tree).
  • Technology involves, Briquetting, process of converting biomass residues into a fuel.
    • Briquetting uses compaction methods for densification of waste materials and converts them into fuel.

• About Pine Tree
  • It is an evergreen conifer (they produce cones that encase reproduction seeds).
  • Native to northern temperate regions (Can be found throughout the world)
  • Shed their older needles in the fall.

• It has been found that certain cosmetic product contain harmful chemicals like Benzene.

• About Benzene
  • It is a colourless or light yellow liquid at room temperature.
  •  It has a sweet odor and is highly flammable.
  • It is a highly volatile compound and is a natural component of gasoline and tobacco smoke.
  • It is soluble in water, and thus can contaminate surface waters and soil.
  • Applications: Shoemaking, painting, printing and rubber manufacturing.
  • Health impacts include headache, tremors, including cancer and haematological effects.

• Naval Detachment Minicoy has been commissioned in Indian Navy as INS Jatayu.

• Minicoy is southernmost island of Lakshadweep.

• About INS Jatayu
  • India's second naval base in Lakshadweep after INS Dweeprakshak in Kavaratti.
  • Significance: Facilitate Indian Navy’s operational effort towards Anti-Piracy and Anti-Narcotics Operations in Western Arabian Sea
    • It will also augment Indian Navy’s capability as the first responder in the India Ocean region and augment connectivity with the mainland.

• Recently, Sandoz Received FDA approval for first and only denosumab biosimilars. 
  • Denosumab can address primary and secondary bone loss, such as osteoporosis.

• About Biosimilars: 
  • It is a medicine that is very close in structure and function to a biologic medicine (also called the reference product).
  • It has the same treatment risks and benefits as that of biologic medicine. 
  • Advantage: Increased access to lifesaving medications at potentially lower costs.

• Biosimilars are more complex to manufacture than small-molecule generic medicine. 

• President of India conferred SNA Fellowships and Awards for the years 2022 and 2023.

• About SNA Awards
  • Akademi awards are being conferred since 1952.
  • Symbolizes highest achievement in music, dance and drama.
  • Awards in Hindustani and Carnatic music were instituted in 1951, even before SNA was set up and these were known as Presidential Awards.
  • Honour of Akademi Fellow carries purse money of ₹3 Lakh while Akademi Award carries purse money of ₹1 lakh, besides a Tamrapatra and Angavastram.

• SNA, setup in 1953, is the apex body in the field of performing arts for the preservation and promotion India’s intangible cultural heritage.

Govind Ballabh Pant (1887 – 1961)

• Govind Ballabh Pant’s death anniversary has been commemorated on 7th March.
• He was a freedom fighter and served as 1st Chief Minister of Uttar Pradesh. 

• Key contributions
  • Participated in movements like Civil- disobedience, Quit India, etc. 
  • Represented Ramprasad Bismill, Ashfaqulla Khan and other revolutionaries involved in the Kakori case (1925). 
  • As a Union Home Minister, played key role in
    • Reorganisation of States along linguistic lines. 
    • Establishment of Hindi as an official language of the Union government and a few states. 

• Awards: Bharat Ratna (1957).

• Values: Compassion, leadership, etc.