RBI and Bank Indonesia Sign MoU to Promote Use of Local Currency

• The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) to promote the use of local currencies viz. the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions.
• The initiative contributes to promoting trade between India and Indonesia as well as deepen financial integration and strengthen the long historical, cultural and economic relations between India and Indonesia.
• It also covers all current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries.

International Women’s Day 2024

• International Women’s Day (IWD) is annually observed on 8th March.
• The day recognizes women's social, economic, cultural, and political achievements.
• The theme of the day 2024 is Invest in Women: Accelerate Progress’ which aimed at tackling economic disempowerment.

SAP Appointed Manish Prasad as President and MD for Indian Subcontinent

• German technology giant SAP appointed Manish Prasad as the new president and managing director for Indian Subcontinent region.
• He succeeded Kulmeet Bawa and has experience building and managing global and regional businesses across multiple geographies including North America, Middle East, Asia, and Australia.

Sweden Joins NATO

• Sweden becomes the 32^nd member of NATO.
• The country ended decades of post-World War II neutrality.
• The invasion of Ukraine in 2022 prompted Sweden along with neighboring Finland to seek NATO membership as a response to heightened concerns about Russian military aggression.

Panama Joins International Solar Alliance

• Panama becomes the 97^th member of the International Solar Alliance (ISA).
• Panama handed over the Instrument of ISA Ratification during the meeting of the Ambassador of Panama to India in New Delhi.
• The ratification solidifies Panama's pledge to collaborate within the framework of the ISA and joining other nations in the pursuit of harnessing solar energy for a greener future.