Daily GK Update- 3rd Apr, 2024

 

NATIONAL UPDATES:

 

1. Mahindra Aerostructures inks $100-million supply contract with Airbus group: The Bengaluru-based Mahindra Aerostructures has signed a $100-million multi-year contract with an Airbus group entity. Under the contract, Mahindra Aerostructures will supply close to 2,300 varieties of metallic components to Airbus Atlantic in France from its manufacturing base in India. This new contract from Airbus Atlantic opens a new frontier in our existing relationship with the Airbus Group.

 

2. PTI joins Meta’s third-party fact-checking programme in India: Press Trust of India (PTI) has joined Meta’s Third-Party Fact-Checking Partnership (3PFC) programme to identify, review and rate content as misinformation across Facebook, Instagram and WhatsApp. Meta announced the onboarding of India’s leading news agency as it seeks to expand its third-party fact-checking network just as electioneering for the Lok Sabha polls has picked up. This collaboration will strengthen the fight against misinformation in India’s digital landscape and empower users to navigate the online world with greater confidence.

 

3. Sheyphali Sharan takes charge as Principal DG of PIB: Sheyphali B. Sharan has assumed charge as the Principal Director General of the Press Information Bureau upon the superannuation of Manish Desai. Sharan is an officer of the 1990 batch of Indian Information Service. During an illustrious career spanning over three decades, she has held cadre portfolios of largely looking after media publicity work as Press Information Bureau officer for Ministries such as Finance, Ministry of Health and Family Welfare, Ministry of Information and Broadcasting. She has also served as the Spokesperson for Election Commission of India.

 

4. Atul Mehra Joins Axis Capital as MD & CEO: Axis Capital has appointed Atul Mehra as the new Managing Director (MD) and Chief Executive Officer (CEO). Mehra will be overseeing both the investment banking and institutional equities businesses at Axis Capital. Atul Mehra is an experienced dealmaker with over 30 years of experience in the industry. He was previously the Joint MD at JM Financial.

 

5. DR Congo president names Judith Suminwa Tuluka as first woman PM: President Felix Tshisekedi of the African country of the Democratic Republic of Congo (DRC) appointed Judith Suminwa Tuluka as the nation’s first female prime minister. During his election campaign, President Felix Tshisekedi promised greater gender equality in the country, and this appointment is seen as a part of the fulfilment of his election promise. The Democratic Republic of Congo is rich in natural resources and precious minerals like industrial-grade diamonds, cobalt, uranium, and copper.

 

6. 1-7 April – Prevention of Blindness Week: The Indian government designates April 1 to April 7 as Prevention of Blindness Week. This observance serves as a poignant call to individuals, emphasizing the importance of prudent lifestyle choices and regular eye examinations to mitigate the risk of eye ailments, including age-related macular degeneration. Jawaharlal Nehru and Raj Kumari Amrit Kaur founded the National Society for the Prevention of Blindness in 1960 under the Societies Registration Act of 1860. It is an entirely voluntary organization that accepts donations and contributions and actively collaborates with Sight Savers, Rotary International and other significant companies.

 

INTERNATIONAL UPDATES:

 

1. HAL delivers two Dornier 228 planes to Guyana: The Hindustan Aeronautics Limited (HAL) has delivered two Dornier 228 planes to the Guyana Defence Force. The planes arrived at Cheddi Jagan International Airport last evening aboard two Boeing C-17 Globemaster military transport planes. The Dornier 228 aircraft is well-known for its versatility and reliability, making it an ideal choice for a wide range of military and civilian applications. With its rugged design and superior performance capabilities, the Dornier 228 is well-suited for various missions, including surveillance, reconnaissance, medical evacuation, and transport operations.

 

OTHER UPDATES:

DEFENCE

 

1. IAF’s 10-day mega exercise ‘Gagan Shakti’ begins: The Indian Air Force (IAF) is set to commence a 10-day exercise to test its capabilities and preparedness for high-intensity operations. During the exercise, known as ‘Gagan Shakti-2024,’ the IAF will mobilize all its bases and assets across the country. The Indian Army will provide logistics support for the mega exercise, facilitating a comprehensive pan-India movement of approximately 10,000 IAF personnel and ammunition in order to validate the Operational Rail Mobilisation Plan (ORMP) aspects of the IAF.

 

BANKING AND FINANCE

 

1. SEBI launches New & More User-Friendly Version of Complaint Redress System – SCORES 2.0.: Market regulator Securities and Exchange Board of India (SEBI) launched the new version of SEBI Complaint Redress System (SCORES 2.0) on April 1. The new version of SCORES strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the ‘Designated Bodies and reduction of timelines. According to SEBI, the timeline for redressal of complaints in SCORES 2.0 has been reduced to 21 calendar days.

 

2. World Bank projects India’s economy to grow at 7.5% in 2024: The Indian economy is projected to grow at 7.5 per cent in 2024, the World Bank has said, revising its earlier projections for the same period by 1.2 per cent. According to the report, South Asia is expected to remain the fastest-growing region in the world for the next two years, with growth projected to be 6.1 per cent in 2025. According to the World Bank’s most recent South Asia Development Update, overall growth in South Asia is forecast to be strong at 6 per cent in 2024, driven mostly by robust development in India and recoveries in Pakistan and Sri Lanka.

 

3. Tata AIA unveils payment solution system on WhatsApp: Tata AIA Life Insurance Co. Ltd. (Tata AIA), one of India’s leading life insurers, has launched a premium payment service on its WhatsApp platform marking the first-ever launch of its kind in the life insurance sector. Previously limited to UPI-based transactions, Tata AIA consumers can now use a wide range of payment methods within WhatsApp. Using WhatsApp, policyholders can now easily make renewal payments through credit card, debit card, and net banking options. Policyholders can now pay premium up to INR 1 crore, instead of the earlier limit of INR 2 lakh.