NATIONAL UPDATES:
1. Apple collaborates with CleanMax to accelerate renewable energy in India: CleanMax, a renewable energy company has partnered with Apple to accelerate renewable energy adoption in India. As a part of the collaboration, CleanMax stated that it has successfully installed 14.4 megawatts of rooftop solar installations across six industrial sites in the country. These installations are expected to reduce approximately 207,000 tonnes of carbon dioxide (CO2) emissions over their entire operational life.
2. IMF raises India's GDP forecast to 6.8% for 2024-25: The International Monetary Fund (IMF) has revised India's Gross Domestic Product (GDP) growth projection to 6.8 percent for the financial year (FY) 2024-25. The IMF's update to the World Economic Outlook report stated that India's growth is expected to remain strong in FY 2024-25 at 6.8 percent and in FY 2025-26 at 6.5 percent due to the continuing strength in domestic demand and a rising working-age population.
3. Lightstorm signed with IIT Madras to launch employment skilling initiative: The Indian Institute of Technology (IIT) Madras has signed a Memorandum of Understanding (MoU) with digital infrastructure provider Lightstorm for employment enablement and skill development programme in the country The collaboration aims to address the skill gap among underprivileged students and support underserved youth, women, and job seekers from tier II and III cities. It will provide extensive placement assistance, including job readiness facilities, for students pursuing degrees in arts, science, and commerce.
4. BharatPe appoints Nalin Negi as CEO: Fintech major BharatPe has appointed Nalin Negi as its chief executive officer, after more than a year after he took over as interim CEO and CFO. Negi was appointed as its chief financial officer in 2022 after its then top executive Suhail Sameer stepped down in January 2023. He was was instrumental in driving the company’s significant growth and strategic advancements across key business segments.
INTERNATIONAL UPDATES:
1. World Liver Day 2024: April 19: Every year, World Liver Day is observed on April 19. World Liver Day is celebrated every year to create awareness about the significance of liver functions and prevention measures we should take to ensure that the liver is healthy The theme for this year's World Liver Day is - Be Vigilant, Get Regular Liver Check-Ups and Prevent Fatty Liver Diseases.
2. Sany India launches fully electric dump truck: Sany India has launched the SKT105E, a fully electric dump truck, which will be manufactured domestically. The truck is designed to meet the demands of open-cast mining operations with significant energy efficiency and cost-effectiveness and has a payload capacity of 70 tonnes. The truck's design, coupled with its zero-emission operation, makes it an environmentally friendly solution for mining sites.
3. Nigeria rolls out world's first full shot against meningitis: Nigeria has rolled out the world's first vaccine against all strains of meningitis. The shot will help ease the burden of disease in Africa's “meningitis belt.” Nigeria has become the first country in Africa's "meningitis belt" to introduce the new Men5CV or 'MenFive' meningitis vaccine. It is the world's first vaccine to provide protection against all five strains of the meningococcal bacteria that cause meningitis.
4. World Heritage Day 2024:April 18: World Heritage Day, also monikered as the International Day for Monuments and Sites (IDMS), is observed on April 18 every year to honor and protect out cultural legacy. On this day, many organizations, societies, governments, and individuals come together to advocate the preservation of historical sites and to increase public awareness about their significance. The purpose of WHD is to raise awareness among local communities about protecting our cultural heritage.
5. France hosts the International Humanitarian Conference: An international humanitarian conference for Sudan and neighbouring countries was held in the French capital, Paris. Objective – To raise funds for the people of Sudan who have been caught in a war between Sudan’s army and the rebel paramilitary force Rapid Support Forces. The conference was organized in response to the United Nations’ funding appeal on 7 February 2024. France, Germany and the European Union organized the International Humanitarian Conference for Sudan and neighbouring countries.
OTHER UPDATES:
DEFENCE
1. ISRO aims to make space missions debris free by 2030: Making India’s intention clear to join global efforts to remove debris from space, Isro chairman S Somanath announced that the country aims to achieve debris-free space missions by 2030. Somanath said Isro has a clearly laid-out plan for space exploration. This initiative aims to achieve debris-free space missions by all Indian space actors, governmental and non-governmental, by 2030.
2. DRDO successfully test fires Indigenous Technology Cruise Missile: The Defence Research and Development Organisation (DRDO) conducted a successful test flight of the Indigenous Technology Cruise Missile (ITCM) from the Integrated Test Range (ITR), Chandipur off the coast of Odisha. The missile performance was monitored by several Range Sensors like Radar, Electro-Optical Tracking System (EOTS) and Telemetry deployed by ITR at different locations to ensure complete coverage of the flight path.
3. Russia launches new Angara A5 heavy-lift rocket on 4th orbital test mission: Russia successfully test-launched its Angara-A5 space rocket for the first time from the Vostochny Cosmodrome. This marks a significant milestone in Russia's efforts to develop a new post-Soviet launch vehicle. The test launch of the Angara-A5 aimed to demonstrate Russia's ambition to establish itself as a major space power and underscored the growing importance of the Vostochny Cosmodrome in the Amur region of Russia's Far East.
BANKING AND FINANCE
1. Bank of India signed with IMGC for mortgage guarantee on home loans: Public sector lender Bank of India and Indian Mortgage Guarantee Corporation (IMGC) have signed a pact to provide mortgage guarantee-backed home loan products in the affordable housing segment. It will cover salaried and self-employed home loan customers. IMGC’s guarantee will mitigate the risk of defaults for the bank, allowing it to potentially offer more favourable loan terms to borrowers, the company said in a statement.
2. UNCTAD forecasts India’s GDP growth at 6.5% in 2024: In a recent report by the United Nations Conference on Trade and Development (UNCTAD), India’s economy is forecasted to grow at a rate of 6.5 percent in 2024. This projection follows a growth of 6.7 percent in 2023, indicating a continued upward trend. The report highlights India’s position as the fastest-growing major economy globally. According to the UNCTAD report, multinational companies are expanding their manufacturing operations in India to enhance their supply chain diversification. This move is expected to bolster Indian exports, contributing positively to economic growth. The growth observed in 2023 was attributed to robust public capital investment and expansion in the service sector.
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