Daily GK Update- 22nd Apr, 2024

 NATIONAL UPDATES:

 

1. BEL signs MoU with IIT-Mandi for co-operation in research: Bharat Electronics Ltd (BEL) has signed an MoU with the Indian Institute of Technology, Mandi for co-operation in research and technology, product development, in the areas of semiconductors, quantum technologies, and drones. BEL is engaged inter alia in the design, development and manufacture of professional-grade electronic equipment, systems, sub-systems and modules in the areas of Communications, Electro-Optics, Electronic Warfare, Radars, Satcom, Telecommunications and Networking, Solar Photovoltaic, Strategic Electronic Components and civilian.

 

2. Keki Mistry appointed as chairman of HDFC Insurance Board: Banker Deepak S Parekh resigned from the post of chairman and non-executive director of HDFC Life Insurance. Following Parekh’s resignation, the company has been appointed Keki Mistry as the Chairman of HDFC Board. Mistry has been associated with the company since December 2000 and is currently acting as Non-Executive Director. He is a qualified Chartered Accountant and a fellow member of the Institute of Chartered Accountants of India. Mistry was the Vice Chairman & CEO of Housing Development Finance Corporation (HDFC) Limited.

 

3. MS Dhoni appoints Citroen’s new brand ambassador: French carmaker Citroen has engaged cricketing legend Mahendra Singh Dhoni as its brand ambassador in India. Dhoni is likely to endorse the brand for two years, charging Rs 7 crore for a year. While Dhoni has endorsed other automobile brands in the past, including Ashok Leyland and TVS Motor, it’s the first time that he will be associating with a car brand.

 

4. Santosh Viswanathan appointed India Region Head of Intel: Intel has appointed Santhosh Viswanathan to head the India region business as its Managing Director (MD). In March, the company announced India as a separate region within its SMG (Sales, Marketing, and Communications Group) organisation, to capitalise on the country’s rapid growth and business opportunities. Viswanathan holds an engineering degree in industrial engineering and management and a master’s degree in business administration.

 

INTERNATIONAL UPDATES:

 

1. India signs MoU with Bulgaria to enhance collaboration, exchange auditing expertise: The Comptroller and Auditor General of India (CAG) has signed a Memorandum of Understanding (MoU) with SAI (Supreme Audit Institutions) Bulgaria, the Bulgarian National Audit Office, in Sofia. The agreement, inked by the two Supreme audit institutions, aims to enhance collaboration and the exchange of expertise in the field of auditing between the two nations. Through this MoU, a platform will be established for the exchange of knowledge and experience amongst auditing professionals and technical teams through collaboration in training programs, and mutual assistance in conducting audits.

 

2. 22 April – International Mother Earth Day: World Earth Day, also known as International Mother Earth Day, is observed every year on 22 April. Objective – To raise awareness and promoting the sustainability of our planet. Theme 2024 – Planet vs. Plastics The late 1960s saw a rise in public debate about environmental issues, with Rachel Carson’s influential book ‘Silent Spring’ (1962) and ‘the Santa Barbara oil spill’ (1969) raising awareness of environmental destruction. This was the beginning of the concept of Earth Day.

 

3. 21 April – World Curlew Day: World Curlew Day is observed every April 21 by various environmental organizations to raise awareness about the problems faced by curlews. Curlews are a group of birds comprising nine species from the genus Numenius. Long, slender, downcurved bills and mottled brown plumage are characteristics that can easily help identify the bird. Mary Colwell started the day in 2017 as a grassroots initiative to help protect the species. The plight of the bird is mostly man-made, and it is our primary responsibility to make the planet a safe place for not just humans, but all other living beings as well.

 

OTHER UPDATES:

 

SPORTS 

 

1. Kento Momota retires from international badminton: 29-year-old former world champion Kento Momota from Japan has announced retirement from badminton, citing mental and physical issues amid a lean patch at the highest level. The former World No. 1 confirmed that he will not represent his country again after the Thomas and Uber Cup, scheduled to be held in Chengdu in China from April 27. Momota won the World Championships title in 2018 and 2019, a glorious year in which he won as many as 11 titles on the tour. However, ever since his return to action in the following year after recovering from injuries, Momota managed to win only 3 titles.

 

2. India’s Gukesh D becomes youngest to win Candidates Chess Tournament: In Chess, 17-year-old Indian prodigy, Dommaraju Gukesh from Chennai made history as the youngest-ever player to win the FIDE Candidates tournament in Toronto. In the final round, Gukesh held fellow title contender Hikaru Nakamura of USA to a draw with black pieces but his fate was sealed on the other board where Ian Nepomniachtchi and Fabiano Caruana battled for 109 moves before draw.

Gukesh became the youngest-ever Candidates Tournament champion, beating Garry Kasparov’s record, who was 20 years when he won this tournament in 1984.

 

3. Max Verstappen won Chinese Grand Prix: Red Bull’s Max Verstappen won the first Chinese Grand Prix in five years, the fifth round of the 2024 Formula 1 World Championship, in Shanghai.

Verstappen’s commanding performance saw him cross the finish line a staggering 13.7 seconds ahead of Lando Norris of McLaren, who secured second place. Verstappen’s Red Bull teammate, Sergio Perez, completed the podium, finishing a further six seconds behind Norris.

 

SCIENCE AND TECHNOLOGY

 

1. India’s Commitment to Debris-Free Space Missions by 2030: India has made a declaration to achieve debris-free space missions by 2030. Indian Space Research Organisation (ISRO) Chairman S. Somanath made the declaration at the 42nd Inter-Agency Space Debris Coordination Committee (IADC) annual meet. This initiative aims to achieve debris-free space missions by all Indian space actors, governmental and non-governmental, by 2030. With 54 spacecraft in orbit and numerous non-functional objects, ISRO has been actively taking measures to dispose of or remove space debris. Efforts include deorbiting spacecraft once their mission is complete and designing systems to minimize debris creation.

 

BANKING AND FINANCE

 

1. Airtel Payments Bank launches NCMC-enabled Debit and Prepaid Cards: Airtel Payments Bank has launched eco-friendly NCMC (National Common Mobility Cards) enabled debit and pre-paid cards. The bank has partnered with National Payments Corporation of India (NPCI) to launch these interoperable cards that are powered by RuPay. The launch comes in alignment with the bank’s commitment to India’s One Nation, One Card vision. The bank has introduced NCMC enabled debit card for its savings account customers and NCMC enabled pre-paid card for the wallet customers.

 

2. Outward FDI drops 39% to $28.64 billion in FY24: India’s outward foreign direct investment (OFDI), or overseas direct investment, declined by 39 per cent to $28.64 billion in the year ended March 2024, amid uncertain global economic conditions. In the year ended March 2023, outward FDI, which is represented by total financial commitment, stood at $46.96 billion, according to the RBI data. The data released shows overseas direct investment both under the automatic route and the approval route. Of the total overseas direct investment, commitments through the equity route stood at $9.62 billion in fiscal 2024, compared to $19.13 billion in FY2023. The equity contributed around 34 per cent of the total financial commitment made in FY2024.

 

3. Irdai removes age limit on health insurance policies: With a view to widen the market and foster adequate protection from healthcare expenses, insurance regulator IRDAI has removed the age limit of 65 years for individuals buying health insurance policies. This marks a significant departure from the conventional constraints that limited individuals in securing comprehensive coverage. IRDAI aims to foster a more inclusive and accessible healthcare ecosystem, ensuring adequate protection against unforeseen medical expenses.

 

 

Daily GK Update- 21st Apr, 2024

 NATIONAL UPDATES:

 

1. 21 April – National Civil Service Day: National Civil Service Day is observed every year on 21 April. Objective – To honour the achievements of the civil servants and acknowledge their efforts in ensuring that the people of the country are safe and happy. After India became independent, the first batch of civil servants of the country were addressed by Sardar Vallabh Bhai Patel. In this inspiring speech dedicated to the civil servants of the country, Sardar Vallabh Bhai Patel referred to them as steel frame of India. In 1947, Sardar Vallabh Bhai Patel announced that National Civil Service Day will be observed every year to honour the contributions of the civil servants for the country.

 

INTERNATIONAL UPDATES:

 

1. Bharti Airtel signs deal to merge Sri Lankan unit with Dialog Axiata: Bharti Airtel has signed an agreement to merge the operations of its Sri Lankan unit with Dialog, the island nation’s largest telecom provider and a subsidiary of Malaysia’s Axiata Group Berhad. Dialog will acquire 100 per cent of the issued shares in Airtel Lanka. Bharti Airtel Lanka, a wholly-owned subsidiary of the Indian telecom giant, began commercial operations in Sri Lanka in 2009. Dialog will acquire 100 per cent of the issued shares in Airtel Lanka. In return, Airtel Lanka will be granted a stake in Dialog.

 

2. Nepal Hosts First International Rainbow Tourism Conference: On April 20, 2024, Nepal hosted its first International Rainbow Tourism Conference in Kathmandu, with an objective to promote the country as a safe and inclusive destination for LGBT tourists. This conference was organized by the NGO Mayako Pahichan Nepal ..

 

3. Mount Ruang  – Indonesian Volcano Erupts Again: Mount Ruang, a remote volcano located in Indonesia’s North Sulawesi region, erupted recently, sending a plume of ash 400 meters (1,312 feet) above the peak. This eruption followed several others, which forced thousands of residents to evacuate as molten rocks ..

 

4. Antarctica Ice Shelf Experiences Jumps: Researchers have discovered that the Ross Ice Shelf in Antarctica, roughly the size of France, is experiencing sudden movements of 6 to 8 centimeters once or twice a day. These movements are triggered by the Whillans Ice Stream, a fast-flowing ..

 

 

 

OTHER UPDATES:

DEFENCE

 

1. Nalin Prabhat appointed as DG of NSG: Senior Indian Police Service (IPS) officer Nalin Prabhat has been appointed as the Director-General of National Security Guard (NSG). Prabhat is a 1992 batch IPS officer of the Andhra Pradesh cadre. He is currently posted as Additional Director-General, Central Reserve Police Force (CRPF) in Jammu and Kashmir. The appointments committee of the Cabinet has approved his appointment as the chief of NSG till the date of his superannuation, August 31, 2028. Before that, Sashastra Seema Bal (SSB) chief Daljit Singh Chaudhary was holding additional charge of NSG.

 

2. DRDO conducts successful flight test of Indigenous Technology Cruise Missile from Chandipur off Odisha coast: Defence Research and Development Organisation (DRDO) conducted a successful flight test of Indigenous Technology Cruise Missile. The missile was test-fired from the Integrated Test Range, Chandipur off the coast of Odisha. The missile has been developed by the Aeronautical Development Establishment (ADE), a laboratory based in Bengaluru, along with other Indian industries and laboratories. It is equipped with advanced avionics and software to ensure reliable and improved performance.

 

SPORTS 

 

1. India got 2 silver and 2 bronze medals in the 13th EGMO 2024: The 13th European Girls’ Mathematical Olympiad (EGMO) was held in Tskaltubo, Georgia. The Indian team has performed quite commendably in this competition. The 4-member Indian team has won a total of four medals including 2 silver and 2 bronze medals in the 13th EGMO 2024.

 

2. India finishes Asian Wrestling Championship 2024 with 9 medals: The senior Indian wrestling team finished their campaign at the 20th Asian Wrestling Championship by winning nine medals – 4 silvers and 5 bronzes. A total of 30 Indian men and women wrestlers competed in the championship. The men’s wrestlers participated in the freestyle and Greco-Roman events while the women’s team participated only in the freestyle events. The 20th Asian Wrestling Championship 2024 was held in the Kyrgyzstan capital, Bishkek.

 

SCIENCE AND TECHNOLOGY

 

1. Space Debris Threat to Earth’s Defenses: As the number of satellites in Earth’s orbit continues to grow at an unprecedented rate, experts are raising concerns about the potential impact of space debris on the planet’s magnetic field and atmosphere. The Growing Problem of Space Debris Current ..

 

 

BANKING AND FINANCE

 

1. RBI imposes Rs 60.3 lakh penalty on five co-operative banks: The Reserve Bank has imposed penalties totalling Rs 60.3 lakh on five co-operative banks for contravention of various regulatory norms. A penalty of Rs 43.30 lakh has been imposed on Rajkot Nagarik Sahakari Bank for non-compliance with RBI directions on ‘ban on loans and advances to directors and their relatives, and firms/concerns in which they are interested’. The central bank has imposed a monetary penalty of Rs 5 lakh each on The Kangra Co-operative Bank (New Delhi), Rajdhani Nagar Sahkari Bank (Lucknow), and Zila Sahakari Bank, Garhwal (Kotdwar, Uttarakhand). Besides, a penalty of Rs 2 has been imposed on District Co-operative Bank (Dehradun).

 

2. Aegon Life Insurance gets new identity, will now be called “Bandhan Life’: Bandhan Financial Holdings has officially taken over Aegon Life Insurance and the latter will now be called Bandhan Life. The private life insurer has also created a new brand identity for itself with the tagline ‘Bharat Ki Udaan, Bandhan se’. Satishwar B., MD and CEO of Bandhan Life, said, “This transition sets the stage for an amazing new chapter for us as we become a part of the renowned Bandhan Group. The updated product names, such as Bandhan Life iTerm Prime, reflect this new direction, inviting customers to explore the company’s enhanced offerings on its website.

 

Daily GK Update- 20th Apr, 2024

 NATIONAL UPDATES:

 

1. In electronics exports, Tamil Nadu jumps to top on Apple’s India push: Driven by the aggressive India push from global major Apple, the southern state of Tamil Nadu has become the top state in terms of electronic goods exports in the financial year 2023-24, surpassing Karnataka and Uttar Pradesh. The state posted a 78 per cent increase in exports from $5.37 billion in 2022-23 to $9.56 billion in 2023-24. In 2023-24, Karnataka became the number two exporting state with $4.62 billion, contributing to 16 per cent of the national exports, followed by Uttar Pradesh with $4.46 billion worth of exports and 15 per cent of the national share.

 

2. 20 April – Volunteer Recognition Day: Volunteer Recognition Day is observed every year on 20 April. The significance of this day is to recognise, honour, and celebrate the selfless sacrifices of volunteers who work for the good of society. Volunteers work for the betterment of society without expecting anything in return. We should take this opportunity to thank them for their good work. Their sacrifices deserve applause from the rest of the world. The word ‘volunteering’ was first used in the 1630s, but it did not gain traction until the 1750s. During this time, volunteering was only seen as a way of helping others in need. It was not until the outbreak of the war in 1755 that the term ‘organized volunteering’ was born.

 

INTERNATIONAL UPDATES:

 

1. A new species Clouded Tiger Cat found in Brazil’s Rainforest: A new tiger species has been recently discovered in the dense rainforests of Brazil. Named the clouded tiger cat (Leopardus pardinoides), this cat may be small but it is significant for biodiversity and conservation. A small wildcat called the clouded tiger cat is about the same size as a housecat. It has a spotted coat that helps it blend in with its surroundings. Scientists involved with the Tiger-Cats Conservation Initiative in Brazil have discovered that this feline is a distinct species from other similar cats. They concluded after studying the cat’s appearance, genetic diversity, and location.

 

2. 20 April – World Circus Day: World Circus Day is observed on the third Saturday of April. This year, World Circus Day was celebrated on 20 April 2024. This day is dedicated to the circus artists, performers, and creators who bring the magic of live entertainment to the fore. It is a time to recognize their hard work, dedication, and talent, as well as to raise funds for the circus industry.

It is an opportunity to showcase the unique skills and talents of circus artists and to raise awareness about the industry.

 

 

 

OTHER UPDATES:

DEFENCE

 

1. India delivers 1st batch of BrahMos supersonic cruise missiles to Philippines: India has delivered the first batch of BrahMos supersonic cruise missiles to the Philippines, in reflection of the growing military ties between the two countries amid China’s military muscle-flexing in the South China Sea. The supplies came over two years India signed a $375 million deal with the Southeast Asian nation to supply the weapon systems. Under the January 2022 deal, India will supply three batteries of the missiles, their launchers and related equipment. It was the first export of the BrahMos missile by India.

 

SPORTS 

 

1. India finishes Asian Wrestling Championship 2024 with 9 medals: The senior Indian wrestling team finished their campaign at the 20th Asian Wrestling Championship by winning nine medals – 4 silvers and 5 bronzes. A total of 30 Indian men and women wrestlers competed in the championship. The men’s wrestlers participated in the freestyle and Greco-Roman events while the women’s team participated only in the freestyle events. The 20th Asian Wrestling Championship 2024 was held in the Kyrgyzstan capital, Bishkek.

 

BANKING AND FINANCE

 

1. ITC Infotech to acquire Pune-based Blazeclan Technologies for Rs 485 crore: ITC Infotech has entered into a share purchase agreement for the acquisition of 100 per cent of the share capital of Pune-headquartered Blazeclan Technologies Private Limited. The total consideration for the acquisition by its wholly owned subsidiary, ITC Infotech India Limited, is up to Rs 485 crore, including contingent consideration which is subject to the achievement of prescribed targets. This acquisition is expected to augment ITC Infotech’s capabilities to service its customers in a multi-cloud and hybrid cloud environment with a focus on the partner ecosystem to accelerate future growth.

 

2. RBI approves Ajith Kumar’s appointment as Dhanlaxmi Bank Chief: The Reserve Bank of India has approved the appointment of Ajith Kumar K.K as the Managing Director & CEO of Dhanlaxmi Bank for three years. Presently, Kumar is the Chief Human Resources Officer in Federal Bank in the cadre of President. Kumar has over 36 years of experience with the Federal Bank in various facets of banking including Credit, Human Resources, Business, Branch Banking etc.

 

 

 

 

 

AWARDS AND HONOURS

 

1. Kaushik Rajashekara honored with International Fellowship by the Engineering Academy of Japan: Kaushik Rajashekara has been elected as an International Fellow of the prestigious Engineering Academy of Japan. He is a distinguished professor at the University of Houston’s Cullen College of Engineering. This honour recognizes his outstanding contributions to the field of power conversion and the electrification of transportation. Indian-Origin US Professor Honoured For Outstanding Contribution To Energy

 

Daily GK Update- 19th Apr, 2024

 NATIONAL UPDATES:

 

1. ‘CleanMax teams up with Apple to drive renewable energy adoption in India: CleanMax, a leading renewable energy company, has partnered with tech giant Apple to accelerate the adoption of renewable energy solutions across India. Under this partnership, CleanMax has successfully installed 14.4 megawatts of rooftop solar installations spanning six industrial sites across the nation. These installations are forecasted to curtail approximately 207,000 tonnes of carbon dioxide (CO2) emissions throughout their operational lifespan.

 

INTERNATIONAL UPDATES:

 

1. Hindustan Zinc becomes 3rd largest silver producer globally: Vedanta group firm Hindustan Zinc has become the third largest producer of silver globally. As per a survey, its Sindesar Khurd Mine in Rajasthan now stands as the world’s second largest silver-producing mine, moving up from last year’s fourth spot. Silver plays a pivotal role in the global energy transition and Hindustan Zinc’s production growth of 5 per cent year-on-year is attributed to increased ore production and enhanced grades, reinforcing its status as a key player in the global silver market.

 

2. 8 Indians named in Time’s 100 Most Influential List 2024: Eight individuals of Indian descent, including Alia Bhatt, Ajay Banga, and Sakshi Malik, have been honoured in Time magazine’s prestigious list of the 100 most influential people of 2024. The list features a diverse array of leaders from various sectors, including finance, entertainment, technology, activism, and academia. The list includes politicians, business leaders, artists, icons, movie stars, athletes, and scientists who have made significant impact in their fields. The overall list contains four categories: Leaders, heroes, artists, and thinkers.

 

3. Nigeria becomes first country to roll out new meningitis vaccine: Nigeria has become the first country in the world to roll out the “revolutionary” new Men5CV vaccine against meningitis. Nigeria is one of the hotspots of the deadly disease in Africa. Last year, a 50% rise in annual cases was reported across 26 African countries regarded as meningitis hyperendemic countries, according to the WHO.

 

4. 19 April – World Liver Day: World Liver Day is observed every year on April 19. Objective – To create awareness about the significance of liver functions and prevention measures we should take to ensure that the liver is healthy Theme 2024 – Keep your liver healthy and disease-free In 2010, the European Association for the Study of the Liver (EASL) launched the first ever World Liver Day to commemorate the foundation day of EASL in 1966. Since then, April 19 has been celebrated as World Liver Day every year.

 

5. 19 April – World Jackal Day: World Jackal Day is observed every year on 19 April. World Jackal Day is an opportunity to raise awareness about the importance of protecting the habitat of jackals and to promote their conservation. The first World Jackal Day was celebrated in 2023, which is associated with an organization called Gold Schackel, which means golden jackal.

 

OTHER UPDATES:

DEFENCE

 

1. AFMS partnered with IIT Kanpur to Address Healthcare Challenges for Soldiers: The Armed Forces Medical Services (AFMS) has signed a Memorandum of Understanding (MoU) for collaborative research and training with Indian Institute of Technology (IIT) Kanpur. Under this MoU, AFMS and IIT Kanpur will team up to undertake research and develop new technologies to address health problems faced by soldiers in difficult terrains. IIT Kanpur will also provide technical expertise for developing AI diagnostic models, at Armed Forces Centre for Computational Medicine established in Armed Forces Medical College, which is first of its kind amongst medical colleges in India.

 

2. Vice Admiral Dinesh K Tripathi appointed as next Chief of Naval Staff: Vice-Admiral Dinesh Kumar Tripathi has been appointed the next Chief of Naval Staff. He is currently the Vice-Chief of the Navy, and will take over on superannuation of the current chief, Admiral R. Hari Kumar on April 30. Prior to taking over as Vice-Chief, he had served as Flag Officer, Commanding-in-Chief, and Western Naval Command. Born on May 15, 1964, Vice-Admiral Tripathi was commissioned on July 1, 1985 into the Executive Branch of the Indian Navy.

 

BANKING AND FINANCE

 

1. Adani infuses 8,339 crore in Ambuja Cements, raises stake to 70.3%: Billionaire Gautam Adani’s family infused an additional Rs 8,339 crore in Ambuja Cements, raising its stake in the company to 70.3 per cent, to help the cement maker’s manufacturing capacity. The Adani family previously invested Rs 5,000 crore in the company on October 18, 2022, and Rs 6,661 crore on March 28, 2024. The promoters of the company – Adani family – has fully subscribed to the warrants program in the company by further infusing Rs 8,339 crore, thereby infusing a total amount of Rs 20,000 crore.

 

2. SIDBI inks MOU with Jeevika Bihar, UMED Maharashtra to extend Prayaas to rural livelihood mission: Small Industries Development Bank of India (SIDBI) in association with Women’s World Banking (WWB) has signed an MoU with Jeevika, Bihar State Rural Livelihoods Mission (SRLM) and UMED, Maharashtra-SRLM to extend Prayaas scheme to SHG individual women through cluster level federations (CLFs). This partnership will help in unlocking the potential of CLFs and will establish a new and scalable credit distribution ecosystem. SIDBI in the pilot phase will partner 35-40 CLFs across Bihar and Maharashtra with a target of serving affordable credit of up to`Rs 2 lakh to 5,000 women entrepreneurs.

 

3. IMF Raises India’s GDP Growth Projection to 6.8% for FY 2024-25: The International Monetary Fund (IMF) has raised India’s growth forecast for 2024-25 to 6.8% from 6.5% on the back of strong domestic demand and a rising working-age population. The Reserve Bank of India, the country’s central bank, estimates the economy to grow at 7% in the current financial year that started on April 1. The IMF estimates Asia’s third-largest economy’s gross domestic product to grow at 6.5% in the next financial year.

 

AWARDS AND HONOURS

 

1. Ram Charan awarded honorary doctorate in literature from Vels University: Ram Charan has been conferred with an honorary doctorate from the prestigious Vels University in Chennai. He was also a chief guest at the graduation ceremony. Previous recipients of this recognition have been Finance Minister Nirmala Sitharaman, director Shankar and others. Ram Charan debuted in 2007 with Chirutha. Since then, he has given several successful films over the course of his career, including Magadheera, Yevadu and Dhruva.

 

2. STT GDC India Earns Frost & Sullivan’s 2023 Indian Company of the Year Award: Frost & Sullivan researched the data center colocation services industry and, based on its findings, recognizes STT GDC India with the 2023 Indian Company of the Year Award. STT GDC India is a pioneer data center solutions provider that delivers cutting-edge solutions and services, with a strong emphasis on environmental sustainability and technological innovation. STT GDC India stands out through its commitment to establishing long-term, sustainable business practices, with a strong focus on building and operating environmentally sustainable data centers.

 

Daily GK Update- 18th Apr, 2024

 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.

 

Daily GK Update- 17th Apr, 2024

 NATIONAL UPDATES:

 

1. India’s electronics exports increase 23.6% to $29.12 billion in FY24: India exported electronics goods worth $29.12 billion in 2023-24 (FY24), up 23.6 per cent compared to a year ago, even as the country’s total exports contracted 3 per cent. According to commerce department officials, the top five export market of electronics good are — the US, United Arab Emirates, Netherland, United Kingdom, and Italy. During FY24, exports also ventured into new markets, such as Montenegro, Cayman Islands, El Salvador, Turkmenistan, Mongolia, Honduras and St Vincent.

 

2. IIT Madras launches India’s 1st mobile medical devices calibration facility: The Indian Institute of Technology (IIT) Madras has launched India’s first medical devices calibration facility on wheels. The facility can calibrate up to 45 different life-saving medical devices including defibrillator analyser, electrical safety analyser, gas flow analyser, and dialysis reference meter.

The calibration of medical devices on a regular basis is must to ensure accurate diagnosis and treatment of patients. This vehicle will go to the doorsteps of labs and calibrate life-saving medical equipment. The equipment will be tested in just a few hours.

 

INTERNATIONAL UPDATES:

 

1. World Hemophilia Day 2024:April 17^th: World Hemophilia Day is an annual observance held on April 17th to raise awareness about hemophilia, a rare and inherited bleeding disorder. This year, the theme for World Hemophilia Day 2024 is “Equitable access for all: recognizing all bleeding disorders.” The foundation of World Hemophilia Day was laid in 1989 by the World Federation of Hemophilia (WFH).

 

2. Kuwait’s Emir appoints Sheikh Ahmad Abdullah al-Ahmad al-Sabah as PM: Kuwait’s Emir has appointed Sheikh Ahmad Abdullah al-Ahmad al-Sabah as the new Prime Minister of Kuwait. Former Prime Minister Sheikh Mohammed Sabah al-Salem al-Sabah resigned in April only a few months after he was designated to form a government. His resignation was a procedural move after a new parliament was elected that month, the fourth since December 2020.

 

3. Georgieva selected for second term as IMF Managing Director: The International Monetary Fund’s executive board selected Bulgarian economist Kristalina Georgieva to serve as managing director for a second five-year term, starting on Oct. 1, 2024. The Board commended Ms. Georgieva’s strong and agile leadership during her term, navigating a series of major global shocks. Georgieva is the second woman to head the IMF and the first person from an emerging market economy. She is the IMF’s 12th managing director since its founding in 1944.

 

4. 17 April – World Hemophilia Day: World Hemophilia Day is observed every year on 17 April. Objective – To raise awareness about hemophilia, a rare and inherited bleeding disorder. Theme 2024 – Equitable access for all: recognizing all bleeding disorders. World Hemophilia Day was first celebrated on the 17th of April 1989. It marks the birthday of Frank Schnabel, the founder of the World Federation of Haemophilia (WFH).

 

OTHER UPDATES:

 

SCIENCE AND TECHNOLOGY

 

1. Sanjana Sanghi Named Brand Ambassador for SPACE India: Sanjana Sanghi has been appointed as the Brand Ambassador for SPACE India, a leading space education organization. Sanjana Sanghi holds a gold medal from Lady Shri Ram College, affiliated with the University of Delhi, showcasing her academic excellence alongside her achievements in the entertainment industry. SPACE India, founded in 2001, serves as the registered Space Tutor of ISRO and has inspired over 1.5 million students through its educational initiatives.

 

BANKING AND FINANCE

 

1. Fitch affirms ratings of SBI and Canara Bank at 'BBB-': Fitch Ratings affirmed the long-term Issuer Default Rating of both State Bank of India (SBI) and Canara Bank at 'BBB-' and said the outlook looks stable. Fitch has also affirmed SBI's Viability Rating (VR) at 'BB' and Government Support Rating (GSR) of 'BBB'-. "SBI's IDR and GSR are at the same level as India's sovereign rating (BBB-/Stable), reflecting Fitch's view that SBI has the highest probability of extraordinary state support among Indian banks if required.

 

2. SBI Life launches IdeationX: SBI Life Insurance has launched the 1st edition of ‘IdeationX’, a pioneering initiative that promises to revolutionize the future of the insurance industry. The innovative platform aims at engaging and encouraging future leaders from B-Schools across the country to think, innovate and present unconventional life insurance solutions that address consumer’s evolving insurance needs and contribute towards reshaping India’s life insurance sector landscape. The key objective behind this initiative is to involve the young minds who are the future leaders of the country, to identify various insurance needs and conceptualize product solutions addressing those needs.

 

AWARDS AND HONOURS

 

1. Amitabh Bachchan to be honoured with Lata Deenanath Mangeshkar award: Famous Hindi cinema actor Amitabh Bachchan will be honoured with the 3rd Lata Deenanath Mangeshkar Award 2024. The award was announced at a press conference organized by the Master Deenanath Mangeshkar Smriti Pratisthan Public Charitable Trust and the Mangeshkar family in Mumbai. The Lata Deenanath Mangeshkar Award was instituted by Deenanath Mangeshkar Smriti Pratishthan in honour of Swar Kokila Lata Mangeshkar.

2. Adwaita Nayar named Young Global Leader in World Economic Forum’s Class of 2024
: Adwaita Nayar, the co-founder of Nykaa and CEO of Nykaa Fashion, has been inducted into the esteemed World Economic Forum’s Young Global Leaders Community as part of the Class of 2024. Comprising 90 remarkable individuals, this group of changemakers is at the forefront of shaping the future and fostering positive change through their innovative endeavors. As the forum of young leaders completes 20 glorious years, this recognition reflects their commitment to fostering the next generation of changemakers.