Daily GK Update- 10th Apr, 2024

 

NATIONAL UPDATES:

 

1. India eyes 100 GW nuclear power by 2047: AEC: India aims to increase its nuclear power production to 1 lakh MW by 2047, a significant jump from the current 8,000 MW. This goal was highlighted by Atomic Energy Commission Chairman A K Mohanty at the release of a report on energy transitions. He said the breeder reactors would contribute 3 GW of nuclear power, while 17.6 GW would come from light water reactors built with international cooperation and another 40-45 GW would come from the pressurized heavy water reactors.

 

2. India secures second overseas port: Sittwe agreement approved by MEA: After Chabahar, India has gained the rights to operate a second overseas port, Sittwe, in Myanmar. The Ministry of External Affairs (MEA) has approved a proposal for India Ports Global (IPGL) to take over the operations of the entire port located on the Kaladan River. IPGL is a company 100 per cent owned by the Ministry of Ports, Shipping and Waterways.

 

3. Manoj Panda appoints as member of 16th Finance Commission: The Centre has appointed economist Manoj Panda as a full-time member of the Sixteenth Finance Commission, tasked with formulating recommendations on the revenue sharing formula between the Centre and States for the five-year period beginning April 2026. The Government had constituted the Commission on December 31, and named former Niti Aayog vice chairman and Columbia University professor Arvind Panagariya as its chairman. Other members of the Commission — Ajay Narayan Jha, Annie George Mathew, Niranjan Rajadhyaksha and Soumya Kanti Ghosh — were notified a month later.

 

INTERNATIONAL UPDATES:

 

1. 57 companies account for 80% of greenhouse gas emissions since 2016: According to a report released by thinktank ‘InfluenceMap’. Just 57 companies are responsible for 80% of the world’s carbon emissions from fossil fuels and cement since 2016. These 57 companies are involved in the production of oil, gas, coal and cement in the world. Although governments pledged in Paris to cut greenhouse gases, the analysis reveals that most mega-producers increased their output of fossil fuels and related emissions in the seven years after that climate agreement, compared with the seven years before. In the database of 122 of the world’s biggest historical climate polluters, the researchers found that 65% of state entities and 55% of private-sector companies had scaled up production.

 

2. Zimbabwe launched new gold-backed currency to tackle inflation: Zimbabwe’s central bank has launched a new “structured currency” backed by gold to tackle sky-high inflation and stabilise the country’s long-floundering economy. The new currency – called Zim Gold (ZiG) – will be backed by foreign currencies, gold and precious minerals, John Mushayavanhu, the governor of Zimbabwe’s Reserve Bank. The move is aimed at fostering “simplicity, certainty, predictability” in Zimbabwe’s financial affairs, and he also presented the new banknotes that come in eight denominations ranging from one to 200 ZiG.

 

3. EU and India join hands to nurture startups in EV battery recycling field: The European Union (EU) and India have launched an Expression of Interest (EoI) for startups working in Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event. The matchmaking aims to enhance the cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and startups in the clean and green technologies sector. The intended exchange of knowledge and expertise will be instrumental in advancing the circularity of rare materials and transitioning towards carbon neutrality in both India and the EU.

 

4. 10 April – World Homeopathy Day: World Homeopathy Day is observed every year on April 10. The day commemorates the birth anniversary of Dr Samuel Hahnemann. Objective – To raise awareness about homeopathy by bringing practitioners, and supporters together from all around the world. Theme 2024 – Homeoparivar: One Health, One Family The name homeopathy is derived from the Greek ‘homeo’, which denotes similar, and ‘pathos’ means suffering or disease. It is a practice that believes in curing the disease based on the principle of ‘like cures like’.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army gets portable Igla-S Air defence system: The Indian Army has received the first batch of 24 Russia-made Igla-S Man Portable Air Defence Systems (MANPADS) and 100 missiles as part of a larger deal that includes domestic production in India. This procurement aims to enhance the Army’s Very Short-Range Air Defence (VSHORAD) capabilities, particularly in high mountainous terrain along the northern border. The Igla-S is a hand-held defence system that can be operated by an individual or crew. It is designed to bring down low-flying aircraft and can also identify and neutralise air targets such as cruise missiles and drones.

 

2. Coastal security exercise ‘Sagar Kavach’ conducted off Lakshadweep Islands: A two-day exercise involving all maritime security agencies of the country was conducted off the Lakshadweep Islands. The primary objective of the exercise was to validate the effectiveness of the coastal security mechanism in dealing with asymmetric threats emanating from the sea. The exercise involved the participation of all maritime security agencies, including the Indian Navy, Indian Coast Guard, Marine Police, Fisheries, Customs, and other security agencies.

 

SPORTS

 

1. Harendra Singh appointed as national women’s hockey coach: Former Indian Hockey player and Dronacharya awardee Harendra Singh has been selected by Hockey India as the coach of the senior national women’s hockey team. He will be appointed coach until the 2028 Los Angeles Olympics. Harendra Singh will replace Janneke Schopman of Holland Janneke Schopman. Schopman is a former Dutch hockey player, resigned last month as the coach of the national women’s team after the Indian team failed to qualify for the Paris Olympics 2024.

 

SCIENCE AND TECHNOLOGY

 

1. Tata launches India’s first private earth observation satellite: Tata Advanced Systems (TASL), Tata Sons’ wholly-owned subsidiary, has launched India’s first private sector-built sub-metre resolution earth observation satellite, TSAT-1A, in collaboration with Satellogic. The satellite was launched from the Kennedy Space Center, Florida, by SpaceX. The satellite was assembled at TASL’s facility in Karnataka. Elon Musk’s SpaceX launched a total of 11 satellites in its maiden Bandwagon flight. TSAT-1A will provide high-resolution satellite images with low-latency delivery. The Indian armed forces are expected to be one of its major users.

 

BANKING AND FINANCE

 

1. REC sanctions record Rs 3.59 lakh crore loan in FY24: State-owned REC Limited has made record loan sanctions worth Rs 3.59 lakh crore during 2023-24, posting a year-on-year rise of 33.66 percent. It had sanctioned Rs 2.68 lakh crore as loan during the preceding 2022-23 fiscal. Of the total Rs 3.59 lakh crore, Rs 1.36 lakh crore were “renewable energy sanctions” for green projects.

The disbursements were 66.72 percent higher as compared to Rs 96,846 crore worth of loans disbursed in FY’23.

 

2. SINE, IIT Bombay Collaborates with Canara Bank for Financing of Startups: The Society For Innovation & Entrepreneurship (SINE), IIT Bombay and Canara Bank entered into a MoU to provide financial support to startups. Under its Canara Start-Up Scheme, Canara Bank is providing financial support for the creation, promotion, diversification, and modernization of industrial units across India. SINE, as a technology business incubator, offers comprehensive incubation and acceleration support from start to finish for technology startups.

 

AWARDS AND HONOURS

 

1. Dr. Agarwal’s Eye Hospital wins ‘Best Scientific Poster Award’ 2024: Dr Agarwal’s Eye Hospital’s research team have been honoured with the prestigious ‘Best Scientific Poster Award’ at the 2024 Annual Meeting of the American Society for Cataract and Refractive Surgery (ASCRS). This recognition comes in light of their groundbreaking study on ‘The efficacy of RevitalVision vision-training software in improving best-corrected vision in stable keratoconus patients post Crosslinking surgery.’

 

2. Neeraj Sharma receives prestigious “Medal of Honour” at Consular Day 2024: Neeraj A Sharma, the Honorary Consul General of The Republic of Palau in India, was honored with the esteemed “Medal of Honour” by the Honorary Consular Corps Diplomatique-India (HCCD-India) during the annual Consular Day event held at the ITC Grand Chola in Chennai. The Consular Day 2024 event, organized by HCCD-India, was a gathering of distinguished guests, representing elite individuals and the international fraternity. The award was presented by Tamil Nadu Governor R. N. Ravi during the ceremony.