Daily GK Update- 30th Apr, 2024

 NATIONAL UPDATES:

 

1. Innovative 3D Printed Dummy Ballot Unit unveiled by IIT Guwahati: The Systematic Voters’ Education and Electoral Participation Cell (SVEEP) of Kamrup Election District has partnered with Indian Institute of Technology-Guwahati to develop a innovative 3D printed dummy ballot unit.

The inauguration of the dummy ballot unit was held at the IIT Guwahati campus and was attended by several dignitaries. Crafted with the objective of acquainting citizens, particularly new voters, and senior citizens, with the intricacies of voting procedures, the 3D printed dummy ballot unit aims to dispel any apprehensions, anxiety or uncertainties associated with the voting process.

 

2. IREDA gets ‘Navratna’ status: Indian Renewable Energy Development Agency (IREDA) was granted ‘Navratna’ status by the Department of Public Enterprises. A non-banking financial institution under the Ministry of New and Renewable Energy, IREDA is engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy. The Indian government grants Navratna status to premier public sector undertakings (PSUs), empowering them to execute significant investments of up to ₹1,000 crore without requiring approval from the central authority.

 

3. Dinesh Kumar takes charge as the SAT Presiding officer: Retired Justice Dinesh Kumar took charge as the Presiding Officer of the Securities Appellate Tribunal (SAT) for a four-year term. Before taking over as the presiding officer of SAT, Justice Dinesh Kumar was the chief justice of the Karnataka High Court. He retired from the post in February 2024. The SAT has been functioning without a presiding officer for the last four months, as the last presiding officer, Justice Tarun Aggarwal, retired in December 2023.

 

4. 30 April – Ayushman Bharat Diwas: Ayushman Bharat Diwas is celebrated annually on 30 April in India to raise awareness of the objectives of the government’s Ayushman Bharat Yojana. The Pradhan Mantri Jan Arogya Yojana (PMJAY) is also known as the Ayushman Bharat Yojana. It is a healthcare scheme launched by the Indian government to provide affordable and accessible healthcare to about 50 crore people who are economically disadvantaged. The government introduced Ayushman Bharat Yojana scheme after it saw the problem of many people facing difficulties in accessing essential medical care due to financial constraints.

 

5. 30 April – National Honesty Day: National Honesty Day is celebrated on 30 April, every year. It is a day dedicated to promoting honesty and building trust. The day is counterbalanced by April Fools’ Day, which is known for jokes and deception. Honesty Day was first suggested by M. Hirsh Goldberg, the author of The Book of Lies in the early 1990s.

 

 

INTERNATIONAL UPDATES:

 

1. India’s Ecommerce Market will be World’s Third Largest by 2030: India’s e-commerce landscape is poised for a monumental gain by 2030, a report by investment promotion and facilitation agency Invest India has claimed. Forecasting a substantial surge to $325 billion by 2030, the report added that the nation’s digital economy is expected to reach an impressive $800 billion by the same time. Currently valued at $70 billion, India’s online shopping makes up approximately 7 per cent of the country’s total retail market, therefore presenting a huge opportunity for growth.

 

2. 29 April – World Wish Day: World Wish Day is celebrated on April 29 each year. This national holiday is sponsored by the “Make-A-Wish Foundation” — an organization that focuses on making the wishes of terminally ill children come true. It is a holiday that even children take joy in celebrating — as it primarily has to do with them. World Wish Day was first celebrated on April 29, 2010. It is a holiday inspired by the touching story of a young leukemia patient back in 1980.

 

3. 30 April – International Jazz Day: International Jazz Day is celebrated every year on 30 April.

This day is dedicated to the city of Tangier, Morocco, and the cultural heritage of jazz in Africa.

Tangier is known for its rich history of jazz and is home to many world-renowned jazz artists. The four-day celebration of International Jazz Day includes a series of educational programs, cultural activities, and performances. The All-Star Global Concert, the highlight of the event, is held at the new Palace of Arts and Culture of Tangier.

 

OTHER UPDATES:

 

SPORTS 

 

1. Indian men’s team bag historic gold in archery after 14 years: The Indian men’s recurve team has won a historic gold medal at the Archery World Cup Stage-1 by defeating the world-champion South Korean team for the first time ever. The gold medal ended a 14-year gold medal drought at the men’s recurve team event at the Archery World Cup. The Indian men’s recurve team of Dhiraj Bommadevara, Tarundeep Rai and Pravin Jadhav defeated the World no.1 ranked South Korean team in the final.

 

2. V Senthilkumar wins Batch Open Squash Title: National men’s Squash champion Velavan Senthilkumar defeated Melvil Scianimanico of France to win the Batch Open Challenger Squash.

This was the eighth PSA (Professional Squash Association) title for the US-based Indian Velavan Senthilkumar. The Batch Open was organised by the world squash governing body Professional Squash Association with the host French Squash Federation at Jeu de Paume, Paris, France, from 24-28 April 2024.

BANKING AND FINANCE

 

1. FPI limit in G-sec unchanged at 6% of outstanding stocks of securities: RBI: Reserve Bank kept the limits for FPI investment in government securities (g-secs), state government securities (SGSs) and corporate bonds will remain unchanged at 6 per cent, 2 per cent and 15 per cent, respectively, of outstanding stocks of securities for the current fiscal (2024-25). As of now, all investments by eligible investors in the ‘specified securities’ will be reckoned under the fully accessible route (FAR). The allocation of incremental changes in the g-sec limit over the two sub-categories – ‘General’ and ‘Long-term’ – shall be retained at 50:50 for 2024-25.

 

2. Tata Motors partners with South Indian Bank for commercial vehicle finance: Tata Motors has tied up with South Indian Bank to offer financing solutions to its commercial vehicle customers and dealerships. Objective – To empower fleet owners and dealerships to achieve their business goals. As part of the Memorandum of Understanding (MoU), South Indian Bank will offer financing solutions across the auto major’s entire commercial vehicle portfolio.

 

AWARDS AND HONOURS

 

1. Hema Malini, Saira Banu to get Pt. Lacchu Maharaj Award: Noted Hindi film superstars Hema Malini and Saira Banu as well as other prominent personalities from the fields of art and culture, will be honoured with the prestigious Pandit Lacchu Maharaj Award. The award will be given on 31 August 2024 at a ceremony in Lucknow, Uttar Pradesh. The Lacchu Maharaj Award, instituted in memory of the famous kathak exponent Lacchu Maharaj, was not given after 2014. Thus, the Pandit Lacchu Maharaj Ballet Foundation has decided to honour 10 personalities this year.

 

2. MAHE Confers Honorary Doctorate on K.V. Kamath: Manipal Academy of Higher Education (MAHE) held a special convocation in Manipal to confer an honorary doctorate upon KV Kamath, Chairman of National Bank for Financing Infrastructure and Development (NaBFID) and Chairman of Jio Financial Services Ltd. This honorary doctorate signifies the profound impact Mr Kamath has had, and we are confident his example will continue to inspire our students to pursue excellence in their chosen fields.

 

 

Daily GK Update- 29th Apr, 2024

 NATIONAL UPDATES:

 

1. Indian Historical Records Commission adopts a new logo & motto: Indian Historical Records Commission (IHRC) adopted a new logo and motto. The design for logo and motto submitted by Shaurya Pratap Singh from Delhi was selected by the IHRC. The commission received a total 436 designs for logo and motto through an online competition that was launched in 2023 on MyGov portal. The logo signifies the theme and uniqueness of IHRC. The pages in the shape of lotus petals represent IHRC as the resilient nodal institution for maintaining historical records.

 

2. Manoj Kumar appointed as CVO of JNPA: Indian Revenue Service (IRS) officer Manoj Kumar has been appointed as new Chief Vigilance Officer (CVO) of Jawahar Lal Nehru Port Authority (JNPA).

Kumar has been appointed as CVO of JNPA for an initial period of three years from the date of assumption of charge of the post or until further orders, whichever is earlier. Kumar is IRS officer of 2003-batch. With his new assignment, Kumar will replace Vidyadhar A Malegaonkar (IRTS), who is presently serving as CVO of JNPA.

 

3. Sarvadanand Barnwal appointed as Director in Department of Land Resources: Sarvadanand Barnwal (ISS) has been selected for the appointment as Director in the Department of Land Resources. Barnwal has been selected for the appointment under the Central Staffing Scheme (CSS) for a period of five years from the date of taking over charge of the post or until further orders, whichever is earlier. Barnwal is an Indian Statistical Service (ISS) officer of 2010-batch. He was recommended for the Central deputation by the Ministry of Statistics & Programme Implementation.

 

INTERNATIONAL UPDATES:

 

1. Iran unveils new ‘kamikaze’ drone: The Iranian Islamic Revolutionary Guard Corps (IRGC) has introduced a new “Kamikaze drone” resembling Russia’s Lancet drone. According to the state Tasnim news agency, the new Iranian drone — which has not yet been publicly named — is similar to the Russian Zala Lancet drone, which was first produced in 2020. The Iranian drone, akin to the Lancet, boasts flight durations of 30 to 60 minutes and can carry payloads ranging from 3 to 6 kg, covering distances of up to 40 km.

 

2. Pakistan PM appoints Ishaq Dar as Deputy PM: Pakistan Prime Minister Shehbaz Sharif has appointed Foreign Minister Ishaq Dar as Pakistan’s Deputy Prime Minister. Pakistan Muslim League-Nawaz (PML-N) leader Ishaq Dar is currently serving as Pakistan’s Foreign Minister. He has been also included in the Council of Common Interests (CCI). Earlier in March, Pakistan Prime Minister Shehbaz Sharif approved the reconstitution of the Council of Common Interests (CCI), replacing the finance minister with the foreign minister.

3. 28 April – World Day for Safety and Health at Work: The World Day for Safety and Health at Work is observed every year on 28 April. This day is dedicated to preventing work-related accidents and diseases. It is a global commitment to ensure safe and healthy working conditions for all workers. It is now an opportunity for workers, employers, and governments to come together and commit to taking steps towards creating safer workplaces. This day was first observed in 2003 to raise awareness about the toll that work-related accidents and diseases were taking on workers’ lives. The day was established on a date coinciding with the International Commemoration Day for Dead and Injured Workers.

 

4. 28 April 2024 – World Pinhole Photography Day: World Pinhole Photography Day is observed every year on last Sunday of April. This year was celebrated on 28 April. The day aims to encourage people to pick up pinhole photography as a hobby and profession, and to share their techniques and pictures with the pinhole photography community.

 

5. 29 April – International Dance Day: International Dance Day or World Dance Day is celebrated on 29 April every year. This day is devoted to the fine art of dance, and promoting dance as a widespread value. The day also aims to promote dance in all its forms globally. The International Dance Committee of the UNESCO International Theatre Institute first introduced the concept of World Dance Day in 1982.

 

OTHER UPDATES:

 

SPORTS 

 

1. Bismah Maroof announces retirement from international cricket: Bismah Maroof, one of Pakistan’s most high-profile women cricketers and former captain, has announced retirement from all international cricket. Bismah, 32, was forced into a long break from cricket, first due to a fitness issue in 2020 and then after giving birth to a baby girl in August 2021. Bismah had grabbed headlines when she took her baby to the 2022 World Cup in New Zealand. She was the first Pakistani woman cricketer to avail a 12-month maternity leave with pay policy.

 

BANKING AND FINANCE

 

1. Hitachi Payment Services launches India’s first upgradable ATM: Hitachi Payment Services has launched an upgradable ATM machine in India. These ATMs can be upgraded to a Cash Recycling Machine (CRM) at any time. Manufactured under the ‘Make in India’ initiative, these ATMs offer flexibility and efficiency to banks. Hitachi Payment Services claims that this is the first upgradable ATM in India. Out of the current 2,64,000 ATMs/CRMs currently operational in India, Hitachi manages over 76,000. The company estimates a potential market of around 1,00,000 upgradable ATMs in the next eight years.

 

2. NABARD & RBI Developed Innovation Hub to fasten digital Agri lending: The National Bank for Agriculture and Rural Development (NABARD) has partnered with Reserve Bank’s arm RBIH to put in place a system which will enable faster processing of agricultural loans. NABARD will integrate its e-KCC loan origination system portal with the Public Tech Platform for Frictionless Credit (PTPFC) of Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI. NABARD has developed the loan origination system portal to facilitate digital Kisan Credit Card (KCC) loan processing for cooperative banks and Regional Rural Banks (RRBs).

 

3. RBI open on Tap Licensing for Small Finance Bank: The Reserve Bank of India (RBI) has allowed the Small Finance Banks (SFB) to apply for Universal Bank licenses as per the on tap licensing norms of the RBI. The SFBs can apply for a universal bank license after fulfilling the norms laid by the RBI.

 

4. Deloitte projected India’s FY25 growth forecast at 6.6%: Deloitte India has estimates India’s GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. The rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. Deloitte has revised India’s economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent.

 

AWARDS AND HONOURS

 

1. India Today Group’s AI anchor Sana wins global media award: India Today Group’s AI news anchor, Sana has won the International News Media Association (INMA)’s 2024 Global Media Award for AI-led newsroom transformation. India Today Group has been selected as the best in South Asia for ‘AI-led newsroom transformation’. The company’s human-collaborative AI anchor, Sana, won first place among national brands for the ‘best use of AI in customer-facing products’.

 

2. Gina Justus wins 2024 Cambridge Dedicated Teacher Awards: Gina Justus, a teacher at Our Own English High School, Sharjah Girls’ Branch, has been named the regional winner for the Middle East and North Africa (MENA) in the 2024 Cambridge Dedicated Teacher Awards. Justus, originally from Thiruvananthapuram, Kerala, has been working in the UAE since 2005 and was recognised for her outstanding mentorship and dedication to charity. This year’s competition saw a record-breaking number of nominations, with over 14,840 submissions from 141 countries.

 

Daily GK Update- 28th Apr, 2024

 NATIONAL UPDATES:

 

1. NTPC inks pact with RINL for supply of limestone: A Memorandum of Understanding (MoU) was signed between NTPC Limited and Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP), for the supply of 9 lakh metric tonnes of limestone. Limestone is a raw material for the flue-gas desulphurisation system which is being installed at the coal-based thermal plants of the NTPC for reduction of sulphur di oxide emission. This MoU will cater to the needs of various plants of the NTPC.

 

2. Sunil Kumar Yadav appointed as Director of MoHUA: Sunil Kumar Yadav (IRS) has been appointed as Director of Ministry of Housing & Urban Affairs (MoHUA). Yadav selected for the appointment to the post under the Central Staffing Scheme for a period of five years.

Yadav is an Indian Revenue Service (IRS) officer of 2010-batch.

 

3. Madras HC Directs Tamil Nadu Government to Implement Guidelines for Eliminating Corporal Punishment: The Madras High Court has instructed the Tamil Nadu government to implement the Guidelines for Elimination of Corporal Punishment in Schools (GECP) provided by the National Commission for Protection of Child Rights (NCPCR). Justice S M Subramaniam issued the directive.

 

INTERNATIONAL UPDATES:

 

1. 26 April – International Chernobyl Disaster Remembrance Day: International Chernobyl Disaster Remembrance Day is observed every year on 26 April. The day is dedicated to remember the victims of the Chernobyl nuclear disaster. It creates awareness about the catastrophic accident, in which approximately 8.4 million people were exposed to the harmful nuclear radiations. The Chernobyl Nuclear Power Plant exploded on 26 April 1986, spreading a radioactive cloud over the Soviet territory now comprising Belarus, Ukraine, and Russia. The explosion devastated the area, causing extensive damage to crops, plants, and other infrastructure.

 

2. 27 April – World Healing Day: World Healing Day (WHD) is celebrated every year on the last Saturday of April. This year, it celebrated on 27 April. World Healing Day is dedicated to promoting the benefits of mind-body practices and the emerging medical research on the subject. The day grew out of the founding event of World Tai Chi & Qigong Day. World Healing Day was initially started by World Tai Chi & Qigong Day organizers in many countries, and it soon became a platform for teachers, groups, and organizations of various mind-body arts to showcase their work.

 

3. REC Ltd Secures Japanese Green Loan: REC Ltd, a Maharatna Central Public Sector Enterprise (CPSE) and leading Non-Banking Financial Company (NBFC) under the Ministry of Power, Government of India, has successfully availed a green loan of Japanese Yen (JPY) 60.536 billion (approximately Rs 3,200 crore) to ..

 

4. China Launches Shenzhou-18 Mission: Recently, China launched the Shenzhou-18 spacecraft carrying a three-member crew to its orbiting Tiangong space station. The mission is part of China’s ambitious space program, which aims to put astronauts on the moon by 2030. The Shenzhou-18 spacecraft lifted off 

 

OTHER UPDATES:

 

 

SPORTS 

 

1. Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador: The International Cricket Council (ICC) has announced India legend Yuvraj Singh as an ICC Men’s T20 World Cup 2024 Ambassador. Yuvraj, who famously hit 36 runs in an over during the first-ever T20 World Cup in 2007 which he and India ultimately won. He joins Chris Gayle and Usain Bolt as the first ambassadors to be announced, who will each add to the excitement of what will be the biggest T20 World Cup ever. The ICC Men’s T20 World Cup will be played from 1-29 June with co-hosts USA taking on Canada in the opening fixture at Grand Prairie Stadium in Texas.

       

SCIENCE AND TECHNOLOGY

 

1. Mapping Indian Ocean Floor for Climate and Weather Prediction: India is the country being surrounded by the Indian Ocean, plays a critical role in understanding ocean currents and their impact on weather and climate prediction. A recent study by scientists at the Indian National Centre for Ocean Information Services ..

 

2. Astronomers Detect Rare Giant Flare from Magnetar: Scientists have detected the most distant-known instance of a giant flare from a magnetar, a type of neutron star with immensely strong magnetic fields, residing in the Messier 82 (M82) galaxy, also known as the “Cigar Galaxy.” The flare, a ..

 

BANKING AND FINANCE

 

1. NABARD unveils Climate Strategy 2030: National Bank for Agriculture and Rural Development (NABARD) unveiled its Climate Strategy 2030 document on the occasion of Earth Day. The comprehensive strategy aims to address India’s escalating need for green financing. Despite the pressing demand, where India requires approximately $170 billion annually to reach a cumulative total of over $2.5 trillion by 2030, current green finance inflows are critically insufficient. 1NABARD’s Climate Strategy 2030 is structured around four key pillars to address this demand:

 

2. NIPFP forecasts India’s FY25 GDP growth at 7.1%: Economic think-tank National Institute of Public Finance and Policy (NIPFP) has estimated India’s GDP growth at 7.1 per cent for the current fiscal, using high-frequency models. NIPFP, in a series of tweets, said the Centre is on a fiscal consolidation path through buoyancy in taxes and revenue expenditure compression. While NIPFP’s forecast stands at 7.1%, other entities such as the Asian Development Bank (ADB) and Fitch Ratings estimate a growth rate of 7%. In contrast, the International Monetary Fund (IMF), S&P Global Ratings, and Morgan Stanley project a slightly lower growth rate of 6.8% for FY25, indicating varying perspectives on India’s economic trajectory.

 

3. RBI Curbs on Kotak Bank: The Reserve Bank of India (RBI) directed Kotak Mahindra Bank to immediately stop onboarding new customers through online and mobile banking channels. The central bank also barred the private lender from issuing fresh credit cards, citing significant concerns observed during.

 

AWARDS AND HONOURS

 

1. 60-Year-Old Argentinian Wins Miss Universe Buenos Aires Pageant: A 60-year-old lawyer Alejandra Rodríguez created history by winning the Miss Universe Buenos Aires title in Argentina. Rodríguez was contesting the pageant with 34 other contestants aged between 18 to 73 years of age. According to a report on Hola, Rodriquez thought she had surpassed the age limit for global beauty pageants, but her perspective shifted with the revised regulations. Initially, Miss Universe contestants had to be unmarried and childless, aged between 18 and 28, since its establishment in 1952.

Daily GK Update- 27th Apr, 2024

 NATIONAL UPDATES:

 

1. ADIF and IIT Guwahati incubation center sign MoU to boost startup ecosystem: The Alliance of Digital India Foundation (ADIF) has signed MoU with IIT Guwahati Technology Incubation Centre (IIT Guwahati TIC) to promote entrepreneurship and provide support to technology startups. Under the agreement, ADIF will provide alliance membership to IITG TIC’s portfolio startup companies, giving them access to ADIF’s startup toolkit of discounted services, resources and mentorship opportunities.

 

2. India’s services exports grow 11.4% in 2023: UNCTAD report: India’s services exports jumped 11.4 per cent to USD 345 billion in 2023 despite global economic uncertainties, according to a UNCTAD report. While China’s shipments from the sector contracted by 10.1 per cent to USD 381 billion. Sectors that contribute to India’s services export growth include travel, transport, medical and hospitality. With an 8.9 per cent annual rise in current dollar value terms, the world services exports surpassed USD 7.9 trillion in 2023.

 

3. Tamil Nadu Conducts Nilgiri Tahr Survey with IUCN Observer: The Tamil Nadu government is conducting a three-day synchronised survey of the Nilgiri Tahr (Nilgiritragus hylocrius), the State animal. The survey aims to estimate the population of the endangered species, which once roamed the Anamalai and Nilgiris landscape. The International ..

 

4. Ozone Depletion and Its Impact on Antarctic Biota: A recent study published in the journal Global Change Biology has raised concerns about the persistent ozone depletion over Antarctica and its potential consequences for the region’s plant and animal species. The study highlights that the ozone hole, which forms ..

 

INTERNATIONAL UPDATES:

 

1. Arun Alagappan appointed as executive chairman of Coromandel International: Agricultural solutions major Coromandel International, a part of Chennai-based Murugappa Group, has appointed Arun Alagappan as executive chairman of the company. Alagappan has been the executive vice chairman of the company since February 2021. His appointment comes as A. Vellayan retires from the position of chairman and non-executive director.

 

2. The Winner’s Mindset authored by Shane Watson: Shane Watson witnessed one of cricket’s greatest tragedies unfolding on the field. He was one of the players at the Sydney Cricket Ground when Phillip Hughes was felled by a bouncer during a Sheffield Shield match in late 2014. The talented opener, who played for Australia in 26 Tests and 25 ODIs, died at a hospital two days later. Watson feared it could happen to him, too. All it could take is just one ball. Watson overcame that trauma. He became an even better cricketer than he was before, in fact. In the book, The Winner’s Mindset, he tells us how.

 

3. 27 April – World Veterinary Day: World Veterinary Day is celebrated every year on the last Saturday of April. This year it will fall on April 27, 2024. The day aims to mark the importance of veterinary doctors who work on improving animal lives. It is observed globally through various activities such as seminars, workshops, educational sessions, and campaigns. It provides an opportunity to recognise and appreciate the veterinarians towards animal health, welfare, and the general well-being of society.

 

4. World’s First Personalised mRNA Vaccine for Melanoma Undergoing Trials: A groundbreaking personalised mRNA vaccine for melanoma, the deadliest form of skin cancer, is currently undergoing Phase III clinical trials in the United Kingdom. The vaccine, developed by Moderna and Merck Sharp and Dohme (MSD), is designed to help a ..

 

OTHER UPDATES:

 

SPORTS 

 

1. Sana Mir named Ambassador of ICC Women’s T20 World Cup Qualifier: The International Cricket Council (ICC) has announced the appointment of Pakistan cricket legend Sana Mir as the ambassador for the upcoming ICC Women’s T20 World Cup Qualifier. Mir represented Pakistan in 226 international games, with 137 of them as captain, will bring her invaluable experience to the event. The Women’s T20 World Cup Qualifier will witness 10 teams battling it out for two coveted spots at the ICC Women’s T20 World Cup 2024 in Bangladesh.

 

SCIENCE AND TECHNOLOGY

 

1. Sunita Williams Set to Pilot Boeing Starliner Spacecraft: Sunita Williams, a veteran Indian American astronaut, is preparing for her third space mission aboard the International Space Station (ISS). She will be piloting Boeing’s Starliner spacecraft on its inaugural crewed flight, known as the Crew Flight Test (CFT) mission, ..

 

BANKING AND FINANCE

 

1. AU SFB launches multiple products like credit cards with exclusive features: AU SFB launches multiple products like credit cards with exclusive features Among the latest offerings are two innovative credit cards: the AU SPONT Rupay Credit Card and Secured Credit Card – NOMO (No Missing Out), developed in collaboration with NPCI and VISA, respectively. The NOMO Credit Card marks AU SFB’s debut into the realm of secured credit cards, backed by a fixed deposit.

 

2. NIPFP forecasts India’s FY25 GDP growth at 7.1%: Economic think-tank National Institute of Public Finance and Policy (NIPFP) has estimated India’s GDP growth at 7.1 per cent for the current fiscal, using high-frequency models. NIPFP, in a series of tweets, said the Centre is on a fiscal consolidation path through buoyancy in taxes and revenue expenditure compression. While NIPFP’s forecast stands at 7.1%, other entities such as the Asian Development Bank (ADB) and Fitch Ratings estimate a growth rate of 7%.

 

3. RBI Releases Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders: The Reserve Bank of India (RBI) has issued draft guidelines titled “Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders” to promote transparency in the digital lending space. The guidelines propose that Lending Service Providers (LSPs) should.

 

Daily GK Update- 26th Apr, 2024

 NATIONAL UPDATES:

 

1. SJVN launched India’s 1st Green Hydrogen Project in Himachal Pradesh: Satluj Jal Vidyut Nigam (SJVN) has inaugurated India’s first multi-purpose green hydrogen pilot project at Nathpa Jhakri Hydro Power Station in Himachal Pradesh. The project will produce hydrogen for the High Velocity Oxygen Fuel (HVOF) Coating Facility and generate 25 kW electricity. Aimed at advancing green hydrogen as a clean energy source, aligning with the National Green Hydrogen Mission.

 

2. Axis Bank reappoints Amitabh Chaudhry as chief for a further period of 3 years: The Board of Axis Bank has approved the re-appointment of Amitabh Chaudhry as MD & CEO of the Bank, for a further period of three years with effect from January 1, 2025 up to December 31, 2027. This re-appointment is subject to approval of the Reserve Bank of India (RBI) and approval of the members, in terms of applicable laws. Chaudhry, age 59 years, joined Axis Bank as MD & CEO with effect from January 1, 2019, after successfully leading HDFC Standard Life Insurance Company Limited (HDFC Life), for over nine years, per the Bank’s regulatory filing.

 

3. Great Nicobar Island Development Project: The Rs 72,000 crore ‘Great Nicobar Island Development Project’ aimed at the holistic development of the Great Nicobar Island has come under scrutiny due to its potential impact on the indigenous Shompen and Nicobarese communities. Experts have raised concerns about ..

 

INTERNATIONAL UPDATES:

 

1. Nepal hosts inaugural Rainbow Tourism Conference: Mayako Pahichan Nepal, in collaboration with the Nepal Tourism Board, orchestrated the groundbreaking first International Rainbow Tourism Conference. This one-day event marks a significant leap forward in fostering diversity and inclusivity within Nepal’s tourism industry, positioning the country as a welcoming destination for the sexual minority community in South Asia. The conference’s main objective is to position Nepal as an LGBT-friendly tourism destination.

 

2. 25 April – International Girls in ICT Day: International Girls in ICT Day is celebrated every year on the last day Thursday of April. This year, it falls on 25 April 2024. The main goal behind observing International Girls in ICT Day is to promote gender equality and women’s empowerment in the ICT sector. Theme 2024 – Leadership The history of International Girls in ICT Day dates back to 2014, when the International Telecommunication Union’s Plenipotentiary Resolution 70 was passed.

 

3. 25 April – International Delegate’s Day: International Delegate’s Day is observed every year on 25 April. Objective – To raise awareness of the role of the representatives and delegates of the Member States to UN. It marks the anniversary of the first day of the San Francisco Conference, also known as the United Nations Conference on International Organization.

 

4. 26 April – World Intellectual Property Day: The World Intellectual Property Office (WIPO) is celebrated on 26 April 2024 every year. The day is dedicated to promoting the role of intellectual property (IP) in stimulating innovation and creativity. This day is an opportunity to raise awareness about the need for a balanced approach to intellectual property protection that takes into account the rights of creators and copyright holders, as well as the public interest. Theme 2024 – IP and the SDGs: Building Our Common Future with Innovation and Creativity

 

5. Fourth Session on Global Plastics Treaty Negotiations: The fourth session of the Intergovernmental Negotiating Committee (INC-4) to develop an international legally binding treaty on plastic pollution commenced recently in Ottawa, Canada. The objective of this penultimate round of negotiations is to refine the text of the draft ..

 

OTHER UPDATES:

DEFENCE

 

1. Armenia and Azerbaijan Move Towards Normalizing Ties with First Border Marker: Armenia and Azerbaijan have placed the first border marker, following a bitter conflict over the Nagorno-Karabakh region. Experts from both countries are working on demarcating their boundaries as part of the peace process. The two nations are working towards a ..

 

SCIENCE AND TECHNOLOGY

 

1. Great Nicobar Island Development Project: The Rs 72,000 crore ‘Great Nicobar Island Development Project’ aimed at the holistic development of the Great Nicobar Island has come under scrutiny due to its potential impact on the indigenous Shompen and Nicobarese communities. Experts have raised concerns about

 

BANKING AND FINANCE

 

1. Credit card spends rise 27% to Rs 18.26 trillion in FY24: RBI data: Credit card spends surged 27 per cent year-on-year (Y-o-Y) to Rs 18.26 trillion in financial year 2023-24 (FY24) from nearly Rs 14 trillion in the year-ago period, according to RBI data. In March 2024, credit card spends rose nearly 10.07 per cent to Rs 1.64 trillion from Rs 1.49 trillion in February. This is on account of the financial year close and festival sales during March. Among the top card players, use of HDFC Bank’s credit card was at Rs 43,471.29 crore in March, 8.57 per cent higher than Rs 40,288.51 crore in February.

2. FSIB recommendations for SBI and Indian Bank MD appointments: The Financial Services Institutions Bureau (FSIB) has recommended the appointment of Rana Ashutosh Kumar Singh for the position of Managing Director in State Bank of India and Asheesh Pandey for the position of MD & CEO in Indian Bank. Singh is currently Deputy Managing Director (Retail- Personal Banking & Real Estate) at SBI. Currently, Shanti Lal Jain is the MD and CEO of Indian Bank. He assumed charge on September 1, 2021. Prior to this, he served as Executive Director of Bank of Baroda (BoB) for three years, from September 2018 to August 2021.

 

Daily GK Update- 25th Apr, 2024

 NATIONAL UPDATES:

 

1. C-DOT and IIT Jodhpur sign agreement for “Automated Service Management in Network of 5G: C-DOT, the premier Telecom R&D Centre of the Department of Telecommunications (DoT) and the Indian Institute of Technology, Jodhpur have signed an agreement for “Automated Service Management in 5G and Beyond Networks Using AI”. The agreement is signed under the Telecom Technology Development Fund (TTDF) of the DoT, which is designed for providing funding support to domestic companies and institutions involved in technology design, development, commercialization of telecommunication products and solutions to enable affordable broadband and mobile services in rural and remote areas.

 

INTERNATIONAL UPDATES:

 

1. Indonesia commission formally declares Prabowo next President: Indonesia's election commission formally declared Prabowo Subianto (72-years) as the next president of the world's third-largest democracy, after the country's constitutional court shot down challenges to his first-round majority victory. Subianto, who is currently defence minister, will succeed Joko Widodo in October. He noted that the elected pair secured a total of 96,214,691 votes, or 58.59 percent of the total national valid votes.

 

2. Ministerial Round Table Conference at World Energy Congress 2024: A Ministerial Round Table Conference was held at the ongoing 26th edition of World Energy Congress in Rotterdam, Netherlands The Round Table Conference discussed how the COP28 UN Climate Change Conference in Dubai was a game changer The Ministerial Round Table also discussed energy innovation and collaboration, and implications in managing the evolving energy trilemma trade-offs During the conference, the Union Power Secretary highlighted India’s pivotal role in COP28.

 

3. International Conference on Disaster Resilient Infrastructure begin in New Delhi: The International Conference on Disaster Resilient Infrastructure’s 6th edition has begun in New Delhi. The conference’s theme is “Investing today for a more resilient tomorrow”. Prime Minister Narendra Modi expressed the importance of investing in infrastructure that can withstand disasters for a better tomorrow. The need to incorporate resilience into both new infrastructure projects and post-disaster reconstruction efforts. Furthermore, in a world where disasters know no borders, he urged the necessity for collective resilience among nations.

 

4. 25 April – World Malaria Day: World Malaria Day is observed every year on 25 April. Objective – To raise awareness about the global effort to control and ultimately eradicate Malaria. Theme 2024 – Accelerate the Fight Against Malaria for a More Equitable World It was first held in 2008, and the day was established by the World Health Organization (WHO) Member States during the World Health Assembly of 2007.

5. 25 April – World Penguin Day: World Penguin Day is observed every year on 25th April. This day is significant because it coincides with the start of the northern migration of Adelie penguins. Adelie penguins are one of the 17-20 species of penguins recognized worldwide. The southern hemisphere is home to most of the penguins, with a total of about 20 species known to humans.

 

OTHER UPDATES:

DEFENCE

 

1. India Fourth Largest Arms Spender in World in 2023: SIPRI: According to a Stockholm International Peace Research Institute (SIPRI) report, India was the fourth largest military spender in the world in 2023 after the United States, China and Russia. The Indian expenditure on military 2023 was $83.6 billion. In the interim Union Budget of 2024-25 the government of India allocated Rs 6.21 lakh crore for defence spending. The 2024-25 allocation for defence accounts for 1.89% of India's GDP.

 

2. DRDO develops lightest Bullet Proof Jacket of country for protection against highest threat Level: A unit of the Defence Research and Development Organisation (DRDO) has successfully developed the lightest bulletproof jacket in the country for protection against the highest threat level 6. This jacket is based on a new design approach where novel material along with new processes has been used. DRDO’s Defence Materials and Stores Research and Development Establishment (DMSRDE), Kanpur has successfully developed the lightest bulletproof jacket in the country for protection against 7.62 x 54 R API (level 6 of BIS 17051) ammunition. Recently, this bulletproof jacket was successfully tested at TBRL, Chandigarh as per BIS 17051-2018.

 

SPORTS 

 

1. Usain Bolt named ICC T20 World Cup 2024 Brand Ambassador: Legendary Jamaican sprinter Usain Bolt has been named by the International Cricket Council (ICC) as the ambassador for the 9th ICC Men’s T-20 World Cup, which will be hosted by the West Indies and the United States of America jointly from 1 to 29 June 2024. As a brand ambassador, Usain Bolt will promote the World Cup event, attend T20 World Cup matches in the West Indies, and participate in fan engagement events to promote the cricket sport within the United States.

 

2. Narsingh Yadav elected chairman of WFI’s seven-member athletes’ panel: Former Commonwealth Games gold-medallist Narsingh Pancham Yadav was elected chairman of the Wrestling Federation of India’s Athletes’ Commission. A total of eight candidates were in fray for the seven positions and after polling, conducted on ballot paper, seven members got elected. They then chose Narsingh as chairman of the commission. Ahead of the 2016 Olympics, the Games-bound Narsingh had grabbed headlines when two-time Olympic medallist Sushil Kumar, who missed the qualification event due to an injury, requested for a trial bout against him.

SCIENCE AND TECHNOLOGY

 

1. Microsoft launches lightweight artificial intelligence model Phi-3-mini: Microsoft has launched Phi-3 Mini, a freely available, lightweight small language AI model. The company plans to further release two other models in the same scale. The model is meant to be simpler and cheaper compared to other heavyweight large language models like OpenAI’s GPT-4 Turbo. This is the smallest model that Microsoft has released yet and can be run locally, which means it can run for free on a smartphone without requiring an internet connection.

 

BANKING AND FINANCE

 

1. RBI bars Kotak Mahindra Bank from onboarding new customers via online: The RBI directed Kotak Mahindra Bank to stop onboarding of new customers through its online and mobile banking channels and also barred it from issuing fresh credit cards, with an immediate effect. The bank was found to be deficient in its IT Risk and Information Security Governance for the years 2022 and 2023. In the past two years, the RBI has been in continuous high-level engagement with the bank on all these concerns with a view to strengthening its IT resilience.

 

2. SBI Card introduces inaugural travel-centric core credit card ‘MILES’: SBI Card introduced its inaugural travel-centric core credit card, ‘SBI Card MILES’. The card promises comprehensive travel benefits, including the conversion of Travel Credits to Air Miles and Hotel Points, enhanced rewards on all travel bookings, and access to airport lounges. The bank has partnered with more than 20 leading airline and hotel brands such as Air Vistara, Air India, SpiceJet, and IHG Hotels & Resorts.

 

3. Razorpay launches UPI Switch with Airtel Payments Bank: Digital payments platform Razorpay has launched its own Unified Payments Interface (UPI) infrastructure, or UPI switch, in partnership with Airtel Payments Bank. The company will now provide its UPI Switch service to Airtel Payments Bank, enabling it to manage UPI transactions on the payments bank’s platform. The solution can handle up to 10,000 transactions per second (TPS). Razorpay received a final approval from the Reserve Bank of India (RBI) in December last year to operate as a payment aggregator, enabling it to onboard new merchants after a nearly one-year-old regulatory ban.