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.

Daily GK Update- 9th Apr, 2024

 

NATIONAL UPDATES:

 

1. FSSAI launches extensive Awareness & Sensitization Program Targeting Major Markets: The Food Safety and Standards Authority of India (FSSAI) has launched an extensive awareness and sensitization program targeting major markets in the New Delhi. The awareness campaign will focus particularly on the detection and mitigation of pesticide residue and contaminants in food products. During the programme, the food business operators were sensitized about the importance of organic farming, raw material testing, ill effects of pesticide residues, artificial ripening and wax coating using unapproved chemicals.

 

2. Air India, BIAL sign agreement to develop Bengaluru airport as hub: Air India and Bangalore International Airport Limited (BIAL) have signed a pact to develop the Bengaluru airport as an aviation hub, encompassing the construction of a dedicated domestic lounge, expansion of international services, and establishment of a maintenance, repair, and overhaul (MRO) facility.

Air India (along with other Tata Group airlines – AIX and Vistara) and BIAL will collaborate to enhance international connectivity, operational efficiency, and passenger experience over the next five years.

 

3. Najmi Waziri appoints as head of committee to protect Delhi’s forests: The Delhi High Court has appointed its former judge, Justice Najmi Waziri as the head of the internal departmental committee tasked with protection of forests in the national capital. This decision follows concerns about various government departments not fully cooperating with efforts to protect these vital natural resources. On December 21, 2023, the high court had while observing that the “deemed and protected forest area needs to be protected” said that it is the “responsibility of this committee to do so”.

 

4. Sam Pitroda’s released his new book ‘The Idea of Democracy’: Sam Pitroda has launched ‘The Idea of Democracy’, expressed concern over democracy’s state in the US and India, highlighting 2024’s global elections. He discussed political challenges worldwide, including authoritarian regimes and social media’s role in misinformation. Highlighted cycle of elite regimes falling to public dissent, suggesting the current political-business elite facing rejection.

 

5. 9 April – National Mature Women’s Day: National Mature Women’s Day is observed every year on 9 April. It’s a special holiday for the special older women in our lives — a day to recognize mature and confident women. This day is all about reminding women that they are special regardless of their advancing years. It was celebrated since 2021.

 

 

 

INTERNATIONAL UPDATES:

 

1. Cochin Shipyard signs repair agreement with US: The Cochin Shipyard Limited (CSL), a government enterprise, has signed the Master Shipyard Repair Agreement (MSRA) with the United States Navy. This will facilitate repair of US Naval vessels under Military Sealift Command in Cochin Shipyard. CSL (Cochin Shipyard) has been qualified for entering into the Master Shipyard Repair Agreement (MSRA) after a detailed evaluation process and capability assessment by the US Navy – Military Sealift Command.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Coast Guard inaugurates Aquatic Centre in Tamil Nadu: Indian Coast Guard’s DG Rakesh Pal has inaugurated the Indian Coast Guard Aquatic Centre at ICGS Mandapam, Tamil Nadu. This is as part of his four-day visit to the maritime force’s bases in Tamil Nadu, Andhra Pradesh, and Puducherry. The visit aimed to review operational preparedness and infrastructure development in the region, with a focus on ensuring safe, secure, and clean seas.

 

2. 9 April – CRPF Valour Day: Every year April 9 is celebrated as Bravery Day (Valour Day) to pay tribute to the brave soldiers of the Central Reserve Police Force (CRPF). This year, CRPF is celebrating its 59th Bravery Day. In 1965, a group of Pakistani soldiers attacked some other Indian soldiers near the Rann of Kutch. The Indian soldiers were unaware of this sudden attack, as they did not know that the attack was going to happen. During this attack, a CRPF officer named Bhavana Ram had saved a place called Sardar Post from infiltrators. in a fight.

 

SPORTS

 

1. New Zealand teams win men’s and women’s titles at the Hong Kong Sevens: New Zealand won the men’s and women’s titles at the Hong Kong Sevens to cap off a tournament that sets a scene for rugby at the Paris Olympics. The All Blacks Sevens scored the first two tries in a 10-7 win over France in the men’s final to successfully defend their title. New Zealand’s 36-7 win over the United States lifted the women’s title. For the New Zealand men, it was the 68th tournament title in the world series. The Australian women won bronze with a late 24-21 win over France.

 

2. Sumit Nagal becomes first ever Indian to win main draw match in Monte Carlo Masters: Indian tennis player Sumit Nagal stuns 35th ranked Matteo Arnaldi and becomes first ever Indian to win main draw match at Monte Carlo Masters. He defeated Arnaldi. The unseeded 95th-ranked Nagal, is only the third Indian to feature in the main draw in Monte Carlo after Vijay Amritraj in 1977 and Ramesh Krishnan in 1982. He became the first-ever male Indian singles player to win a Masters 1000 match on clay

 

BANKING AND FINANCE

 

1. Union Bank raises 4200 cr from DIFC to fund overseas business growth: State-owned Union Bank of India has raised $500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing. A syndicated term loan of $ 500 million ($400 million and Green Shoe of $100 million) would be drawn in two tranches with tenure of 3 and 5 years. This is the maiden syndicated term loan raised by Union Bank of India at an overseas centre.

 

2. J&K Bank partnered with Paymart India to launch virtual ATM Facility: J& K Bank has partnered with Paymart India Pvt Ltd to introduce a Virtual ATM (VATM) facility. The partnership aims to introduce cardless cash withdrawal for the Bank’s customers through their neighbourhood merchants. The goal of the collaboration is to enhance banking convenience for its customers across its areas of operations especially in J&K and Ladakh. The move is to leverage technology to enhance banking accessibility and convenience for the bank customers. The bank’s customers would be able to avail this facility through its mobile banking app.

 

3. Piramal Alternatives invests Rs 110 crore in Biodeal Pharmaceuticals: Piramal Alternatives, the investment arm of Piramal Group, has announced an investment of Rs 110 crore in Biodeal Pharmaceuticals. The funding will be directed towards improving infrastructure and capacities, upgrading technology, and underlay a dedicated nutraceuticals manufacturing facility. Biodeal is a contract development and manufacturing organisation. The investment is aimed at fuelling Biodeal’s development of solutions, enhancing its production capabilities, and operations, positioning it as a leading nasal spray manufacturer.

 

AWARDS AND HONOURS

 

1. INS Sharda awarded “On The Spot Unit Citation” for anti-piracy ops: Navy Chief Admiral R Hari Kumar has awarded an ‘On-the-spot Unit Citation’ to INS Sharda for successful conduct of anti-piracy operations at sea. The ship was involved in the safe release of all 19 crew members (11 Iranian and 8 Pakistani) of Iranian fishing vessel “Omari” which was held hostage by pirates off the east coast of Somalia. The ship was tasked to investigate the Iranian fishing vessel “Omari” that was likely hijacked by pirates.

 

Daily GK Update- 8th Apr, 2024

 

NATIONAL UPDATES:

 

1. Wipro appoints Srinivas Pallia as CEO & MD: Wipro has appointed Srinivas Pallia as the chief executive officer (CEO) and managing director (MD) of the company. He succeeds Thierry Delaporte, who after spearheading a significant transformation at Wipro for the last four years, is stepping down to pursue passions outside the workplace. Srinivas PIllai holds a bachelor's degree in engineering and a masters in management studies from Indian Institute of Science, Bangalore.

 

2. Website ‘Booth Raabta’ launched by Punjab for election-related information: In Punjab, under the unique initiative of the District Election Officer and Deputy Commissioner of Malerkotla, Dr. Pallavi, a special website named ‘Booth Raabta’ has been launched to provide election-related information to the people of the district. The website boothraabta.com will be helpful not only to the voters but also to the polling personnel in any circumstances. Deputy Election Commissioner of India Hirdesh Kumar and Punjab Chief Electoral Officer Sibin C appreciated this initiative.

 

3. Miraj’s Sitars and Tanpuras awarded GI Tags: The sitars and tanpuras of Miraj, a small town in Maharashtra’s Sangli district known for its craftsmanship in making musical instruments, have been awarded the coveted Geographical Indication (GI) tags. These instruments made in Miraj are much in demand among some of the prominent artistes, including those renowned in the field of classical music as well as film industry, the makers claim. The tradition of making sitars and tanpuras in Miraj goes back more than 300 years, with over seven generations of craftsmen having worked towards making these string instruments.

 

4. 7 April – National Beer Day: National Beer Day is celebrated on April 7th each year. This day is celebrated to appreciate the contributions of the brewing industry to the economy and society as a whole. Beer is the world’s most widely consumed alcoholic beverage, and it’s consumed by people in over 150 countries. The history of National Beer Day dates back to 1933, when the Cullen-Harrison Act was signed into law, which reversed the prohibition on the sale of beer in the United States.

 

5. 8 April – National Zoo Lovers Day: National Zoo Lovers Day is celebrated every year on 8 April.

National Zoo Lovers Day encourages us to explore our local zoos. Each year millions of people visit zoos and learn about the many animals that live there. Also known as zoological parks, many of them serve as breeding centers. These facilities are relied upon when species are endangered or at risk of becoming endangered. They also provide education to the public about a broad variety of animals and their habitats.

 

 

INTERNATIONAL UPDATES:

 

1. US, Japan, Philippines meet to bolster ties amid rising security woes: U.S. President Joe Biden hosts the leaders of Japan and the Philippines this week to boost economic and defense ties as the allies seek to offset China's growing might and manage risks ranging from N. Korea to the wars in Ukraine and Gaza Biden's bilateral summit with Japanese Prime Minister Fumio Kishida on Wednesday will bring an upgrade in defense ties with Japan, Washington's cornerstone ally in the Indo-Pacific region and an increasingly important global partner.

 

2. U.S. and Britain Forge Alliance to enhance AI Safety: he United States and Britain have joined forces to bolster the safety measures surrounding artificial intelligence (AI) amidst concerns over upcoming advanced AI iterations. This collaboration aims to collectively develop advanced AI model testing procedures, aligning with commitments made during the AI Safety Summit held at Bletchley Park. Both countries are establishing government-led AI safety institutes.

 

3. Peter Pellegrini elected President of Slovakia: A close ally of populist Prime Minister Robert Fico beat a pro-Western career diplomat to become Slovakia’s new President, and succeed Zuzana Čaputová, the country’s first female head of State. Parliamentary Speaker Peter Pellegrini received 53.85% of the vote with the ballots from over 98% polling stations counted by the Statistics Office in Saturday’s runoff election, topping former Foreign Minister Ivan Korčok who had 46.14%. Pellegrini becomes Slovakia’s sixth President since the country gained independence after the split of Czechoslovakia in 1993.

 

4. 7 April – World Health Day: World Health Day 2024 is celebrated every year on April 7. This day is dedicated to the health of people and the well-being of the global community. Theme 2024 – My health, my right. The World Health Organization was established on October 24, 1945 as part of the United Nations’ efforts to promote global peace, security, and better living conditions for all.

 

OTHER UPDATES:

 

SPORTS

 

1. Max Verstappen wins Japanese Grand Prix: Triple world champion Max Verstappen romped to victory at the Japanese Grand Prix, leading team-mate Sergio Perez to a dominant one-two finish for Red Bull. Verstappen failed to finish in Australia a fortnight ago but he was in control for the entire race at Suzuka after starting from pole and claimed his third win from four grands prix this season. Carlos Sainz of Ferrari took third place, ahead of his teammate Charles Leclerc, who started from eighth on the grid.

 

BANKING AND FINANCE

 

1. SIDBI partners fintech platform KarmaLife for micro loans to gig workers: Small Industries Development Bank of India (SIDBI) has partnered with a fintech Onion Life Private Limited to use the latter’s technology platform KarmaLife for a pilot to provide micro loans to gig workers. This is expected to support the gig workers’ financial inclusion to formal institutional credit. KarmaLife will help gig workers access micro loans through a mobile app and eliminates the hassle of extensive paperwork or physical documentation.

 

AWARDS AND HONOURS

 

1. EIL conferred with CIDC Vishwakarma Award: Engineers India Limited (EIL) has been conferred with the prestigious CIDC Vishwakarma Award by the Construction Industry Development Council (CIDC) in the category of “Construction Health, Safety & Environment” for Rajasthan Refinery Project, Barmer. The awards were presented during the 15th CIDC Vishwakarma Awards ceremony held in New Delhi. The Award recognizes EIL’s respect for human life and well-being as reflected in its best practices towards construction safety and occupational health management, especially in complex projects.

 

2. Raghu Ram received fellowship of American Surgical Association (ASA): The American Surgical Association (ASA) has honoured Dr Raghu Ram with an Honorary Fellowship in Washington DC.

This is the highest recognition that the ASA can bestow upon a surgical colleague from a foreign country. Dr Raghu Ram is the third surgeon from South Asia to receive this honour in the 144 years’ history of the United State’s oldest surgical organisation.

Daily GK Update- 7th Apr, 2024

 

NATIONAL UPDATES:

 

1. Power Finance pays Rs 2,033 crore interim dividend to Govt for FY24: State-owned Power Finance Corporation (PFC) has paid a total dividend of ₹2,033 crore to the government for the financial year 2023-24. The company has paid the dividend in three instalments of Rs 554 crore, Rs 832 crore and Rs 647 crore. PFC pays the highest-ever interim dividend of ₹2,033 crore to the Government of India for the FY24. PFC has so far paid interim dividend amounting to ₹3,630 crore to its shareholders for the financial year 2023-24, the highest-ever interim dividend paid by the company.

 

2. India to stop importing urea by end of 2025: According to the Union Minister for Chemicals and Fertilizers, Mansukh Mandaviya, India will stop importing urea by the end of 2025 due to an increase in local production capacity with the commissioning of new fertilizer plants. India is a big importer of Urea and meets around 30% of its 35 million tonnes of annual urea requirement from imports. The urea production in the country increased from 225.08 lakh tonnes in 2014-15 to 284.95 lakh tonnes in 2022-23.

 

3. Syama Prasad Mookerjee Port registers record cargo handling in 2023-24: In its 154-year history, Syama Prasad Mookerjee Port (Kolkata) including Kolkata Dock System (KDS) and Haldia Dock Complex (HDC), achieved a milestone in the just-concluded financial year 2023-24 by handling 66.4 million tonnes of cargo. It marked a 1.11 per cent increase from the previous record of 65.66 million tonnes moved in 2022-23. The complex handled 49.54 million tonne in 2023-24, marking its highest cargo volume ever since its inception and surpassing the previous record of 48.608 million tonne in 2022-23, representing an increase of 1.91 per cent.

 

INTERNATIONAL UPDATES:

 

1. UAE’s Masdar to host World Future Energy Summit: Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, will host the World Future Energy Summit (WFES). Taking place from April 16 to 18 at the Abu Dhabi National Exhibition Centre (ADNEC), WFES is the world’s leading business event for future energy, clean technology and sustainability, with a packed programme of events, activations, discussions and forums. The Masdar Pavilion at WFES will act as a hub for innovation, collaboration and knowledge sharing, with its theatre featuring an engaging programme of panels and presentations, including forums by Masdar’s global strategic initiatives, Y4S (Youth 4 Sustainability) and WiSER (Women in Sustainability, Environment and Renewable Energy).

 

 

 

OTHER UPDATES:

DEFENCE

 

1. Love Kumar appointed as Inspector General in SPG: Indian Police Service (IPS) officer Love Kumar has been appointed as Inspector General in Special Protection Group (SPG). Kumar is a 2004-batch Indian Police Service (IPS) officer of Uttar Pradesh cadre. He has been appointed to the post for a period of two years with effect from the date of assumption of post or till further orders, whichever is earlier. Currently, he is posted as DIG in the same group. Further, Umesh Chander Datta (IPS) has also been appointed as IG in SPG for a period of two years from the date of assumption of the charge of the post. Till the further order whichever is earlier.

 

2. Army inducted ‘Akashteer’ Systems to enhance air defence postue: The Army has started the induction of control and reporting systems under ‘Project Akashdeep’ to bolster its air defence capabilities. The deployment of the systems began with flagging off of the first batch of Control Centres from BEL Ghaziabad. Developed by Bharat Electronics Limited (BEL), the project is aimed at significantly enhancing the operational efficiency and integration of the Army’s air defence mechanisms. The Akashteer Project is a cutting-edge initiative designed to automate air defence control and reporting processes by digitising the entire process.

 

SPORTS

 

1. Bilquis Mir became India’s First Female Jury Member at Paris Olympics: Bilquis Mir from Jammu and Kashmir is set to create history as the first woman from India to serve as a jury member at this year’s Summer Olympics in Paris, scheduled from July 26 to August 11. Bilquis Mir, water sports promoter, developer, athlete, jury member of Indian Kayaking and Canoeing association has been nominated as the member of the jury to officiate at the Paris Olympics games. She is the first person from India to be appointed as a jury member at the Paris Olympics.

 

BANKING AND FINANCE

 

1. MPC holds rate at 6.5% to tame inflation: The Monetary Policy Committee (MPC) has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. This is the 7th time that the rates have been kept on hold. The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth. The Monetary Policy Committee (MPC) on April 5 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. This is the 7th time that the rates have been kept on hold.

 

2. RBI penalizes IDFC First Bank, LIC Housing Finance for non-compliance: RBI has imposed a penalty of ₹1 crore on IDFC First Bank for non-compliance with certain directions on ‘Loans and Advances – Statutory and Other Restrictions’. The Statutory Inspection for Supervisory Evaluation for FY22 revealed that the bank had sanctioned term loans to a public sector undertaking for financing infrastructure projects without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations. Further, the repayment/servicing of the term loans was made out of budgetary resources.

 

AWARDS AND HONOURS

 

1. SJVN honoured with 15th Vishwakarma Awards 2024: SJVN Limited has won two prestigious awards at the 15th CIDC Vishwakarma Awards 2024, instituted by the Construction Industry Development Council. SJVN has been conferred with ‘Achievement Award for Creating Social Development & Impact’ and ‘CIDC Partners in Progress Trophy’. These awards demonstrate SJVN’s commitment to driving positive change through innovative and concrete CSR initiatives.

 

Daily GK Update- 6th Apr, 2024

 

NATIONAL UPDATES:

 

1. BEML, BEL join hands to develop indigenous train control management system: Bharat Earth Movers Limited (BEML) and Bharat Electronics Limited (BEL) has signed an MoU to jointly develop an indigenous Train Control Management System (i-TCMS), aimed at what they called “revolutionising” rail communication technology in the country. The primary objective of this partnership is to identify potential areas of cooperation between BEML and BEL, with a focus on exploring the joint development of high-value products and solutions tailored to the requirements of Indian Railways and Metro systems.

 

2. Syama Prasad Mookerjee Port registers record cargo handling in 2023-24: In its 154-year history, Syama Prasad Mookerjee Port (Kolkata) including Kolkata Dock System (KDS) and Haldia Dock Complex (HDC), achieved a milestone in the just-concluded financial year 2023-24 by handling 66.4 million tonnes of cargo. It marked a 1.11 per cent increase from the previous record of 65.66 million tonnes moved in 2022-23. The complex handled 49.54 million tonne in 2023-24, marking its highest cargo volume ever since its inception and surpassing the previous record of 48.608 million tonne in 2022-23, representing an increase of 1.91 per cent.

 

3. Meenesh Shah elected as Chairman of NCDFI: The National Cooperative Dairy Federation of India Ltd. (NCDFI) elected Meenesh Shah as the Chairman. The election process was conducted by Praveen Chaudhary, IAS, the District Collector of Anand, who served as the Returning Officer.

Prior to the Board elections, the NCDFI General Body had elected eight directors to the Board in an unopposed process on April 04, 2024.

 

4. 6 April 2024 – National Handmade Day: National Handmade Day is celebrated every year on the first Saturday in April. This year falls on April 6. It is a day dedicated to honoring, celebrating, and recognizing the skill and dedication of people who create handmade goods. The day also serves as a reminder of the importance of small businesses and their contributions to the economy. Theme 2024 – Buy a Handmade Product

 

5. 6 April – National Library Day: National Library Day is celebrated every year on April 6th. On this day, people come together to celebrate the crucial roles that libraries and librarians play in our society. It’s also the day to reflect on the importance of reading and how essential it is to make books accessible and affordable for every reader. Libraries aren’t a new concept — it dates back millennia. The first systematically organized library was founded in the 7th century B.C. by Assyrian ruler Ashurbanipal in Nineveh, in contemporary Iraq. It contained approximately 30,000 cuneiform tablets sorted by subject.

 

 

INTERNATIONAL UPDATES:

 

1. 6 April – International Day of Sport for Development and Peace: The International Day of Sport for Development and Peace (IDSDP) is celebrated annually on April 6. Objective – To recognize the importance of sports and physical activity in our personal lives and communities around the world. Theme 2024 – Sport for the Promotion of Peaceful and Inclusive Societies On August 23, 2013, the United Nations General Assembly (UNGA) voted Resolution 67/296, declaring April 6 as the International Day of Sport for Development and Peace.

 

2. Japan launches e-Visa for Indian Tourists: Japan has officially launched its e-Visa program for several countries, including India. This single-entry visa grants a validity of up to 90 days and is specifically designed for travellers planning to enter Japan by air and holding an ordinary passport. For individuals seeking short-term tourism in Japan, the process of obtaining a visa has been streamlined through the introduction of electronic visas (e-Visas) via the Japan e-Visa system.

 

OTHER UPDATES:

DEFENCE

 

1. Army inducted ‘Akashteer’ Systems to enhance air defence postue: The Army has started the induction of control and reporting systems under ‘Project Akashdeep’ to bolster its air defence capabilities. The deployment of the systems began with flagging off of the first batch of Control Centres from BEL Ghaziabad. Developed by Bharat Electronics Limited (BEL), the project is aimed at significantly enhancing the operational efficiency and integration of the Army’s air defence mechanisms.

 

BANKING AND FINANCE

 

1. Bandhan Mutual Fund launched Bandhan Innovation Fund: Bandhan Mutual Fund has launched the Bandhan Innovation Fund, an open-ended thematic fund dedicated to investing in companies at the forefront of innovative breakthroughs. The new fund offers or the NFO of the scheme will open for subscription on April 10 and will close on April 24. The scheme will be benchmarked against Nifty 500 TRI. The scheme will be managed by Manish Gunwani (equity investments), Brijesh Shah (debt investments), and Ritika Behera (overseas investments).

 

2. RBI penalizes IDFC First Bank, LIC Housing Finance for non-compliance: RBI has imposed a penalty of ₹1 crore on IDFC First Bank for non-compliance with certain directions on ‘Loans and Advances – Statutory and Other Restrictions’. The Statutory Inspection for Supervisory Evaluation for FY22 revealed that the bank had sanctioned term loans to a public sector undertaking for financing infrastructure projects without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations. Further, the repayment/servicing of the term loans was made out of budgetary resources.

 

AWARDS AND HONOURS

 

1. SJVN honoured with 15th Vishwakarma Awards 2024: SJVN Limited has won two prestigious awards at the 15th CIDC Vishwakarma Awards 2024, instituted by the Construction Industry Development Council. SJVN has been conferred with ‘Achievement Award for Creating Social Development & Impact’ and ‘CIDC Partners in Progress Trophy’. These awards demonstrate SJVN’s commitment to driving positive change through innovative and concrete CSR initiatives.