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.

Daily GK Update- 5th Apr, 2024

 

NATIONAL UPDATES:

 

1. Britannia NutriChoice launches health monitoring app NutriPlus in India: In a bid to deepen engagement with consumers, biscuit brand Britannia NutriChoice has launched the health-tech app ‘NutriPlus’. The app has been designed in partnership with Aktivo Labs, and enables monitoring of health and wellness metrics. The NutriPlus app harnesses evidence-based technology and has been built with an aim to democratise health monitoring in the country. Quantified health empowers people across cultures, languages, and geographies to live long and healthy lives.

 

2. Future Generali India Insurance appoints Ramit Goyal as CDO: Future Generali India Insurance Company (FGII) named Ramit Goyal as Chief Distribution Officer (CDO). Ramit succeeds Raghavendra Rao, who retired on March 31st, after 14 years of service. Ramit has an incredible 25 years of sales expertise, including over a decade with Future Generali. Within the insurance industry, he has a genuine enthusiasm for customer satisfaction and delight, as well as strong partnerships with distributors and channels.

 

3. Punjab & Sind Bank names Arnab Goswamy as CFO: Punjab & Sind Bank has appointed Arnab Goswamy as its Chief Financial Officer, replacing Mahima Agarwal for a three-year term. Arnab Goswamy is a seasoned finance professional with esteemed credentials as a Chartered accountant. Arnab Goswamy is a qualified Chartered Accountant and Cost Accountant. He has worked at IndusInd Bank, and ICICI Bank. Prior to joining Punjab & Sind Bank, he was associated with Bandhan Bank as vice president.

 

4. 5 April – National Maritime Day: National Maritime Day is celebrated every year on 5 April. The day is celebrated with the intention of spreading awareness and recognising the efforts and contributions of India’s maritime sector in improving the country’s economic growth and development. Theme 2024 – Navigating the future: safety first On April 5, 1919, the first Indian commercial ship, SS Loyalty, embarked on a journey to the United Kingdom, breaking the British monopoly on sea routes. This event was a crucial step in the development of India’s shipping industry.

 

INTERNATIONAL UPDATES:

 

1. Rakesh Mohan appointed a member of World Bank economic advisory panel: The World Bank Group has appointed former Reserve Bank of India deputy governor Rakesh Mohan member of the Economic Advisory Panel, according to a statement released by New Delhi-based think tank Centre for CSEP. Currently, Mohan is serving as president emeritus and distinguished fellow at CSEP and is also part-time member of the Prime Minister’s Economic Advisory Council.

2. International Day of Conscience 2024: 5 April: ‘International Conscience Day’ is celebrated every year on 5 April to remind people to introspect, follow their conscience and do the right thing. The theme for the International Day of Conscience in 2024 is ‘Promoting a Culture of Peace with Love and Conscience’. This theme emphasizes the importance of cultivating a global mindset focused on peace, compassion, and moral integrity.

 

3. 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.

 

4. Romania unveils World’s most Powerful Laser: A research centre in Romania has recently unveiled “the world’s most powerful laser”, which is based on the inventions of 2018 Nobel Physics Prize winners Gerard Mourou and Donna Strickland. The laser, as per the Romanian research centre, is expected to revolutionize everything from the health sector to space exploration. The laser at the research centre, situated near the Romanian capital Bucharest, is operated by the French company Thales, using Nobel prize-winning inventions.

 

5. 5 April – International Day of Conscience: International Day of Conscience is celebrated every year on 5 April. The United Nations established this day to draw attention to the importance of self-examination and acting morally. The day also offers an opportunity to reflect on the progress made in promoting peace and social justice and to identify areas where more work needs to be done. Theme 2024 – Promoting a Culture of Peace with Love and Conscience The inaugural International Day of Conscience was first commemorated in 2020 by the United Nations General Assembly. This annual observance was established to encourage people around the world to introspect, follow their conscience, and do what is right.

 

OTHER UPDATES:

DEFENCE

 

1. Ajit Doval leads the Indian delegation at SCO Meeting: The Indian National Security Advisor (NSA) Ajit Doval led the Indian delegation at the meeting of the Secretaries of the Security Councils of the Shanghai Cooperation Organization (SCO). The 19th annual meeting of the secretaries of the security councils of the SCO member states was held in Astana, Kazakhstan. He also met Kazakhstan President Kassym-Jomart Tokayev, the current Chairman of SCO. President Tokayev advocated adopting a Cooperation Programme to counter terrorism, separatism, and extremism for 2025-2027 and the SCO Anti-Drug Strategy for 2024-2029.

 

2. NATO celebrates 75 Years of collective defense: The North Atlantic Treaty Organization (NATO) has celebrated the anniversary of its establishment on April 4. On this day in 1949, western nations gathered in Washington, DC, to commit their nations to one another’s defence.

Key areas of focus for NATO’s 75th anniversary are recommitting to the alliance’s core values of democracy, freedom and rule of law, addressing evolving security challenges like Russia’s invasion of Ukraine, and charting the course for NATO’s future adaptation.

 

3. Army Medical Corps celebrates 260th Raising Day: The Army Medical Corps (AMC) marked its 260th Raising Day on April 3, 2024, commemorating a significant milestone in its history. The Army Medical Corps was established in the year 1764. The Army Medical Corps has rendered selfless service to the nation through progress, development, dedication and sacrifice over the centuries, both in times of war and peace. The Corps’ motto is ‘Sarve Santu Niramaya’ meaning ‘let all be free from disease’.

 

SPORTS

 

1. Bindyarani Devi bags bronze in Weightlifting World Cup: Commonwealth Games medallist weightlifter Bindyarani Devi won a bronze medal at the IWF World Cup 2024 in Phuket, Thailand.

Devi is a first Indian to win Bronze Medal in Weightlifting World Cup 55kg event. Competing in the non-Olympic women’s 55kg category, Bindyarani Devi recorded a total lift of 196kg (83kg snatch + 113kg clean and jerk) to finish third in the standings. The Democratic People’s Republic of Korea’s Kang Hyon Gyong won the gold medal in Phuket with a lift of 234kg (103kg snatch + 131kg clean and jerk).

 

BANKING AND FINANCE

 

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. Canara Bank launches loans for healthcare, savings accounts for women: Canara Bank has unveiled a series of new products and services aimed at enhancing customer experience and streamlining banking operations. The bank launched a healthcare focused loan product ‘Canara Heal’, to meet the shortfall of hospitalization expenditure while settling through Third Party Administrator (TPA) healthcare insurance claims of self and/or dependents. A customized savings account for women — ‘Canara Angel’ –– with features like Cancer Care policy, pre-approved personal loan Canara ReadyCash and online loan against term deposit product Canara MyMoney.

 

3. Star Health Insurance collaborates with PhonePe to provide ‘Star Comprehensive Insurance Policy’: Star Health and Allied Insurance Company Ltd. (Star Health Insurance), India’s leading retail health insurance provider, joins hand with PhonePe. Under the agreement, Star Health’s Comprehensive Health Insurance Policy will be available on the PhonePe app with a monthly and annual payment option, with coverage up to Rs.1 crore. This is an industry-first initiative. The move allows customers to choose quality health insurance coverage with flexible payment choices, providing access to quality healthcare throughout the country.

 

Daily GK Update- 4th Apr, 2024

 

NATIONAL UPDATES:

 

1. Swiggy appoints Suparna Mitra as new independent director: Swiggy has appointed Suparna Mitra as an independent director to its board. Mitra is the chief executive of the watches and wearables division of Titan Company, which is partly owned by Tata Sons.  Mitra joins three other independent directors on Swiggy’s board. The shifts in Swiggy’s board comes ahead of Swiggy’s public market debut with draft public offering papers set to be filed in the next few months.

 

2. Govt raised Rs 16,507 crore via public sector enterprises disinvestment in FY’24: The government has garnered Rs 16,507 crore by selling minority stake in state-owned companies in 2023-24 fiscal, lower than what was projected in its revised estimates. During the 2023-24 fiscal, which ended March 31, the government sold stakes in 10 central public sector enterprises (CPSEs) through offer for sale (OFS). Share sale in Coal India fetched Rs 4,186 crore, while in NHPC and NLC India it garnered Rs 2,488 crore and Rs 2,129 crore, respectively. The government raised Rs 858 crore though initial public offering of IREDA.

 

3. Adani Green Energy becomes first company in India to surpass 10,000 MW renewable energy capacity: Adani Green Energy Limited (AGEL), India’s largest and one of the world’s leading renewable energy (RE) companies, has surpassed 10,000 megawatts (MW) of operational portfolio, delivering reliable, affordable, and clean power to the national grid. AGEL’s operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity.

The milestone is a testament to AGEL and its development partners firmly moving towards the goal of 45,000 MW renewable energy by 2030.

 

4. India to build first commercial crude oil strategic storage: India plans to build its first privately managed strategic petroleum reserve (SPR) by 2029-30, granting the operator the freedom to trade all of the stored oil. Allowing a fully commercial SPR mirrors the model adopted by countries such as Japan and South Korea, which allow private lessees, mostly oil majors, to trade the crude. So far, India has allowed only partial commercialization for its three existing SPRs in southern India, which have a combined capacity of 36.7 million barrels. India plans to build two new SPRs – the first a 18.3 million barrels cavern at Padur in southern Karnataka state, and then a 29.3 million barrels SPR in eastern Odisha state – with private partners allowed to trade all of the oil locally.

 

5. Fintech start-up Perfios appoints Sridhar Narayan as Chief Business Officer: Fintech-focused software start-up Perfios has appointed former Adobe India’s financial services head Sridhar Narayan as its Chief Business Officer. Prior to joining Perfios, Sridhar has led the banking, financial services, and insurance (BFSI) business at Adobe India. Previously, he spent a decade at Microsoft, SRI, and IBM in the past. Recently, Perfios made two other key appointments with Sumit Nigam as the Chief Technology Officer (CTO) and Anu Mathew as the Chief People Officer (CPO), as part of its strategic preparations for global expansion.

6. Santosh Kumar Jha appointed as CMD of Konkan Railway Corporation: Santosh Kumar Jha has assumed the role of Chairman and Managing Director (CMD) of the Konkan Railway Corporation Ltd. (KRCL). He is an Indian Railway Traffic Services (IRTS) officer of the 1992 batch. With 28 years of experience in the industry, Jha has worked in various domains, including Operations, Infrastructure Planning, and Business Development. He has held leadership positions in major divisions of Railways and has led significant business units in the logistics sector.

 

INTERNATIONAL UPDATES:

 

1. Abdel Fattah Al-Sisi Sworn in as Egyptian President for his third term: Abdel-Fattah al-Sisi was sworn in as the president of Egypt for a third term. He will remain the president until 2030. The Egyptian President has a six-year term. President Abdel-Fattah al-Sisi took the oath of office at the headquarters of the Egyptian Parliament in the New Administrative Capital. President Sisi won the presidential election held in December 2023 with 88.6% of the votes. There was hardly any serious opponent to Sisi in the Presidential election.

 

2. 4 April – International Mine Awareness Day: The United Nations Observes International Mine Awareness Day on 4th April every year. International Mine Awareness Day is a day dedicated to raising awareness about the serious impact of landmines and other explosive remnants of war on civilians. Theme 2024 – Protecting Lives, Building Peace On December 8, 2005, the UN General Assembly accepted the decision and announced April 4 of each year to be marked as the International Day for Mine Awareness and Assistance in Mine Action. It was first observed in 2006.

 

3. 4 April- International Carrot Day: International Carrot Day is celebrated every year on 4 April. This day is dedicated to the popular carrot vegetable and all the activities that are associated with it. Objective – To raise awareness about the potential health benefits of carrots, including reducing the risk of cancer, heart disease, and obesity. The Carrot Day was founded in 2003 to spread knowledge about the carrot and its good attributes around the world. The day is increasingly popular, and 4th April 2012 carrot day celebration was reported from France, Italy, Sweden, Russia, Australia, UK and Japan

 

OTHER UPDATES:

DEFENCE

 

1. Lt Gen Sidana takes over as new DG of Electronics & Mechanical Engineers: Lt Gen J S Sidana has taken over as the new Director General of Electronics and Mechanical Engineers (DGEME) and Senior Colonel Commandant of the Corps of EME. During his career spanning over 38 years, he has held a variety of important regimental, command, instructional and staff appointments. Before his present appointment, he was holding the post of Commandant of Military College of EME for a duration of two years. He has been the Major General of EME of HQ Central Command and “commanded Army Base Workshop & EME Centre”.

 

SPORTS

 

1. WTT Feeder Varazdin 2024 event to begin in Croatia: In Table Tennis, the WTT Feeder Varazdin 2024 event is set to begin in Croatia today.  The competition will feature prominent Indian players such as Sathiyan Gnanasekaran and Manika Batra, among others. Along with Sathiyan, Payas Jain, Harmeet Desai and Snehit Suravajjula will compete in the round of 64 of the Men’s singles event, while in women’s singles, Reeth Tennison and Yashaswini Ghorpade will represent India in the round of 64.

 

BANKING AND FINANCE

 

1. Central Bank of India partners with Veefin Solutions to commence supply chain finance: Mumbai-based public sector bank Central Bank of India has partnered with Veefin Solutions, India’s digital lending platform, to commence supply chain financing (SCF) operations.

Veefin Solutions will be the bank’s sole technology vendor, supplying an end-to-end SCF stack to support its SCF solutions. This collaboration will enable the bank to offer fully digital onboarding, sanctioning, and 24×7 disbursement processes to their corporate and SME customers through Veefin’s Loan Origination System (LOS) and SCF Loan Management System.

 

2. Bank of Maharashtra names Subhasish Roy as Chief Risk Officer: Bank of Maharashtra has appointed Subhasish Roy as chief risk officer for a period of 3 years on contractual basis. Subhasish Roy has pursued Financial Risk Manager (FRM), MBA, M.Phil, M.Sc, CAIIB. He is an Industry veteran with more than 28 years of experience in various key areas of Banking like fraud risk management, data analytics, credit risk management, operational risk & business continuity management, retail banking, corporate banking, corporate strategy & planning, and economic research & training etc.

Daily GK Update- 3rd Apr, 2024

 

NATIONAL UPDATES:

 

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

 

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

 

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

 

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

 

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

 

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

 

INTERNATIONAL UPDATES:

 

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

 

OTHER UPDATES:

DEFENCE

 

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

 

BANKING AND FINANCE

 

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

 

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

 

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

 

Daily GK Update- 2nd Apr, 2024

 

NATIONAL UPDATES:

 

1. Vedanta’s BALCO, first Indian company to be certified with ASI Performance Standard: Chhattisgarh-based Bharat Aluminium Company Limited (BALCO), a unit of Vedanta Aluminium, has emerged as the first Indian company to achieve the Aluminium Stewardship Initiative (ASI) Performance Standard V3 Certification for the manufacture and supply of a wide range of primary aluminium products at its facility in Korba. It aims to address sustainability areas in the aluminium value chain, such as biodiversity, indigenous peoples’ rights, circularity and greenhouse gas emissions. The independent, third-party audit of Balco was carried out by CETIZION Verifica. The ASI Certification program was developed through an extensive multi-stakeholder consultation process and is the only comprehensive voluntary sustainability standard initiative for the global aluminium value chain.

 

INTERNATIONAL UPDATES:

 

1. India and Nepal agree to promote Sanskrit research and education: Nepalese and Indian Sanskrit scholars have proposed to organise an International Sanskrit Conference every year and set up a study centre to conduct research and arrange publication of Sanskrit scriptures, especially the manuscripts found in the Himalayan nation The prime objective of the international conference was to strengthen the Nepal-Indian relations and promote Sanskrit education in Nepal and India. The three-day conclave organised by the Niti Anusandhan Pratisthan in collaboration with the Central Sanskrit University, Delhi, and India Foundation, Delhi, saw the participation of over 120 Sanskrit scholars, professors and government officials from both the neighbouring countries.

 

2. 2 April – World Autism Awareness Day: World Autism Awareness Day is celebrated every year on April 2. World Autism Awareness Day aim to spread awareness about autism as a disorder. Theme 2024 – Empowering Autistic Voices Autistic spectrum disorder is a group of developmental disabilities in which children may behave, communicate, interact and learn in ways that are different from most other children.

 

OTHER UPDATES:

DEFENCE

 

1. Defence exports touch record Rs 21,083 crore in FY 2023-24: Defence exports have touched a record Rs 21,083 crore (approx. US$ 2.63 Billion) in the Financial Year (FY) 2023-24, a growth of 32.5% over the last fiscal when the figure was Rs 15,920 crore. The recent figures indicate that the defence exports have grown by 31 times in the last 10 years as compared to FY 2013-14. The defence Industry, including the private sector and Defence Public Sector Undertakings (DPSUs), have made tremendous efforts in achieving the highest-ever defence exports.

 

SPORTS

 

1. Jannik Sinner clinches Men’s Single title of Miami Open Tennis: Italy’s Jannik Sinner has won the Men’s Singles title of Miami Open tournament in the United States. Second seed Sinner defeated 11th seed Bulgarian player Grigor Dimitrov 6-3, 6-1 in the final. Sinner’s third title of the season means he will move to a career-high second in the ATP world rankings, ahead of Spain’s Carlos Alcaraz. Unseeded American player Danielle Collins has won the Women’s Singles title. In a major upset, Collins defeated fourth-seeded Elena Rybakina of Kazakhstan in straight sets 7-5, 6-3 in the final.

 

BANKING AND FINANCE

 

1. Credit cards breach the 100 million mark in India: RBI: In February 2024, the total number of credit cards issued by banks in India surpassed the 100 million mark, with an addition of 1.1 million cards from the previous month. According to the latest data released by the Reserve Bank of India, the outstanding number of credit cards in the system stood at 100.60 million. In February 2023, the total cards in circulation stood at 99.5 million. HDFC Bank is the leader in credit card issuances, with the lender’s cards in circulation standing at 20.40 million. Other major players include SBI Card with 18.75 million cards, ICICI Bank with 16.84 million, and Axis Bank with 13.90 million.

 

2. Karnataka Bank raises Rs 600 cr through qualified institutional placement: Karnataka Bank has raised around Rs 600 crore through qualified institutional placement by issuing shares to institutional investors. The qualified institutional placement opened on March 21 and closed on March 27. The institutions that bought shares in the QIP include HSBC Mutual Fund, Morgan Stanley Asia Singapore PTE, HSBC Global Investment Funds, SBI Life etc.

 

3. GST collection rises 11.5% to ₹1.78 lakh crore in March: India’s Gross Goods and Services Tax (GST) revenue for March 2024 reached ₹1.78 lakh crore (1,78,484 crore), the second-highest collection ever, according to the data released by the Ministry of Finance. This surge was driven by a significant rise in GST collection from domestic transactions at 17.6%. GST revenue net of refunds for March 2024 is ₹1.65 lakh crore which is growth of 18.4% over same period last year.

 

AWARDS AND HONOURS

 

1. Hardik Singh and Salima Tete named the Player of the Year for 2023: Hardik Singh and Salima Tete were named the Player of the Year for 2023 among men and women respectively at the sixth annual Hockey India awards. With a total prize pool of ₹7.56 crores, the awards saw teams and individuals felicitated for their achievements in the past year. Interestingly, even the 2016 Junior World Cup-winning men’s team was honoured at the event, eight years since the triumph.

 

2. REC wins SKOCH ESG Award 2024 in Renewable Energy Financing Category: REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been bestowed with the SKOCH ESG Award 2024 in the ‘Renewable Energy Financing’ category.

The award underscores REC’s dedication to sustainable financing, paving the way for a greener future and accelerating the transition to renewable energy. REC has emerged as a significant player in India’s clean energy transition, actively contributing to the nation’s sustainable future. Through various initiatives and achievements, REC has committed to numerous sustainable projects and signed various MOUs for green projects.