Daily Current Affairs – April 02 & 03, 2024
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Daily Current Affairs - Banking - April 02 & 03, 2024
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National News
IICA ties up with HP India to upskill professionals on ESG frameworks
- The Indian Institute of Corporate Affairs (IICA) has joined hands with HP India to introduce ‘HP Future Impact Leaders – IICA Certified Environmental – Social – Governance (ESG) Professional Programme’.
- This initiative aims to promote sustainability and empower corporate social responsibility (CSR) professionals to emerge as leaders in navigating the intricacies of environmental, social, and governance (ESG) frameworks.
- Under this programme, HP India in collaboration with IICA will offer 100 per cent scholarships to 75 candidates, enabling them to pursue advanced education in ESG without financial barriers.
- Through this partnership, HP India and IICA aim to impart quality education on ESG to deserving candidates to enable them to be the change makers of tomorrow.
- The initiative underscores a shared commitment to fostering sustainable business practices and driving positive societal impact.
- The HP Future Impact Leaders initiative is designed as a comprehensive course on ESG, giving a holistic understanding of the philosophy of ESG, its principles, its relevance, and its implications in the current scenario.
- The programme is designed to cater to professionals either working in business and human rights (BHR), ESG, environmental health and safety (EHS), sustainability, and CSR.
- Candidates must possess a bachelor’s degree in any discipline and a minimum of five years of experience in relevant fields to be eligible for the programme.
- Indian Institute of Corporate Affairs (IICA) – 2012 (Founded) – Gurgaon, Haryana (HQ)
International News
India Nepal Folk Craft Festival celebrated in Kathmandu
- India Nepal Folk Craft Festival was organised in Kathmandu Valley with exhibits from various parts of India and Nepal showcasing the vibrant culture of both countries.
- The festival was inaugurated by Upendra Yadav, Deputy Prime Minister of Nepal.
- On the last day of the festival, visitors relished local Newari cuisine and Banarasi paan from India.
- The stalls were held by traders from India selling their handicrafts items.
- Nepali jewellery, corn leaf home decor, food items, Nepali traditional clothes and hemp accessories were on sale from traders of Nepal.
- Banarasi brocade sarees from Varanasi, leather sandals and shoes from Udaipur, traditional caps and waistcoats from Himachal Pradesh, lugda craft from Rajasthan, embroidered beddings from Gujarat, and stone sculpture from Odisha showed the diverse culture of India.
- Nepal – Kathmandu (Capital) – Nepalese rupee (Currency) – Ram Chandra Poudel (President) – Pushpa Kamal Dahal (Prime Minister) – Nepali (Official Language)
State News
Devlok Manali - A Cultural Jewel in the Heart of Himachal Pradesh
- Devlok Manali, a groundbreaking cultural endeavor developed through a pioneering Public-Private Partnership (PPP) model with the Himachal Pradesh Government, is a newly launched cultural theme park.
- Situated along the picturesque banks of the Beas River in the enchanting town of Manali, this one-of-a-kind cultural theme park is set to change cultural tourism in the state by offering an extraordinary fusion of tradition, luxury, and entertainment.
- The collaboration between Maya Digital Media and the Himachal Pradesh Government signifies a shared commitment to promoting sustainable tourism and preserving the rich cultural heritage of the state.
- Through this partnership, Maya Digital Media aims to set a new standard for collaborative ventures aimed at fostering economic growth while safeguarding the natural and cultural treasures of Himachal Pradesh.
Banking and Finance
UPI transaction in March 2024
- Transactions worth ₹19.78 lakh crore were processed during March 2024, higher than the previous record of ₹18.41 lakh crore set in January 2024.
- The value of transactions was 40 per cent higher, compared to that in March 2023
- The Value and Volume of Transaction in March 2024 is 8 per cent and 11 per cent higher than February 2024.
- The number of transactions on the UPI network rose to 1,344 crores during the month, from the January peak of 1,220 crores
UPI transactions worth ₹199 lakh crore processed on FY24
- The Unified Payments Interface (UPI) ended FY24 on a strong high, setting new records for both the volume and value of transactions undertaken during March 2024.
- In FY24, the UPI platform processed 13,115 crore transactions, aggregating to ₹199.29 lakh crore, compared with 8,376 crore transactions worth ₹139 lakh crore in FY23.
- During the year, the volume of transactions was up 6 per cent, whereas the value of transactions was 43.4 per cent higher.
- UPI transactions are expected to breach 100 crore transactions per day by FY27, according to a report by PwC India, which projects UPI to dominate the retail digital payments landscape, accounting for 90 per cent of the total transaction volumes over the next five years.
Tata AIA launches industry-first payment solutions 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 ₹1 crore, instead of the earlier limit of ₹2 lakhs.
- In June 2023, Tata AIA introduced industry-first digital payment feature provides an instant premium payment facility through WhatsApp and UPI-enabled payment options.
- There are 27 services offered by Tata AIA on WhatsApp for its consumers.
- These include soft copies of the Policy document, premium certificate, claims initiation and updates, renewal premium payments, contact information update, service request tracking, NEFT update, unit statement, and fund value updates.
- The Company also has an interactive service bot called TASHA that responds to consumer queries 24 hours a day, 7 days a week.
SEBI Launches New & More User-Friendly Version Of Complaint Redress System – SCORES 2.0.
- The Securities and Exchange Board of India – SEBI has launched a new and more user friendly version of its complaint redress system – SCORES 2.0.
- The new version of SCORES will make 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.
- Besides, there will be two levels of review, first by the ‘Designated Body’ and if the investor is dissatisfied, SEBI will undertake a second review.
- The market regulator has enabled integration with the KYC Registration Agency database for easy registration of the investor on
- Investors will be able to lodge complaints only through the new version of SCORES, which is accessible on the website https://scores.sebi.gov.in.
- The old website, https://scores.gov.in will only remain operational for investors to check the status of their old complaints.
- SEBI has informed that the old SCORES app has been discontinued and a new App will be launched soon.
- Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)
IREDA sets New Record: achieves Highest Ever Loan Sanctions and Disbursements
- Indian Renewable Energy Development Agency Limited (IREDA), the largest pure-play green financing NBFC in the country, has achieved its highest-ever annual loan sanctions and disbursements in the financial year 2023-24.
- The company has sanctioned loans amounting to ₹37,354 crores and disbursed loans worth ₹25,089 crores during the fiscal year.
- This has led to a significant growth of 71% from ₹47,076 crores in the loan book, which now stands at ₹59,650 crores.
- Indian Renewable Energy Development Agency Limited (IREDA) – 1987 (Formed) – New Delhi (HQ) – Pradip Kumar Das (Chairman & MD)
Business and Economy
Second highest monthly Gross GST Revenue collection in March at ₹1.78 lakh crore
- Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at ₹1.78 lakh crore, with a 5% year-on-year growth.
- This surge was driven by a significant rise in GST collection from domestic transactions at 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.
- Central Goods and Services Tax (CGST): ₹34,532 crores;
- State Goods and Services Tax (SGST): ₹43,746 crores;
- Integrated Goods and Services Tax (IGST): ₹87,947 crores, including ₹40,322 crores collected on imported goods;
- Cess: ₹12,259 crores, including ₹996 crores collected on imported goods.
GST collection in FY24 ₹20.18 lakh crore
- FY 2023-24 marks a milestone with total gross GST collection of ₹20.18 lakh crore exceeding ₹20 lakh crore, a 7% increase compared to the previous year.
- The average monthly collection for this fiscal year stands at ₹1.68 lakh crore, surpassing the previous year’s average of ₹1.5 lakh crore.
- GST revenue net of refunds as of March 2024 for the current fiscal year is ₹18.01 lakh crore which is a growth of 4% over same period last year.
- Central Goods and Services Tax (CGST): ₹3,75,710 crores;
- State Goods and Services Tax (SGST): ₹4,71,195 crores;
- Integrated Goods and Services Tax (IGST): ₹10,26,790 crores, including ₹4,83,086 crores collected on imported goods;
- Cess: ₹1,44,554 crores, including ₹11,915 crores collected on imported goods.
World Bank projects Indian economy to grow at 7.5% in 2024
- The Indian economy is projected to grow at 5% in 2024, the World Bank has said, revising its earlier projections for the same period by 1.2%.
- Overall, growth in South Asia is expected to be strong at 0% in 2024, driven mainly by robust growth in India and recoveries in Pakistan and Sri Lanka, the World Bank said in its latest South Asia Development Update.
- World Bank – December 1944 (Founded) – Washington DC (HQ) – Ajay Banga (President)
Oil Marketing Companies Reduced Prices of 19 Kilogram Commercial LPG Cylinders Across Country
- The Oil Marketing Companies have reduced the prices of 19 kilogram commercial LPG cylinders across the country.
- The revised reduction in prices ranges from 30 to 32 rupees in different cities.
- In Delhi, a commercial cylinder will now cost over ₹1,764 which was earlier ₹1,795.
- Likewise, a commercial cylinder will cost ₹1,879 in Kolkata, over ₹1,717 in Mumbai, and ₹1,930 in Chennai.
India’s manufacturing PMI hits 59.1 in March, highest since 2008
- The Purchasing Managers’ Index (PMI) for India’s Manufacturing Sector to a 16-month high of 1 in March.
- The index was9 in February.
- Manufacturing has an over 15 per cent share in Gross Value Added (GVA) and is considered the biggest job multiplier.
- India’s March manufacturing PMI rose to its highest level since 2008.
Science and Technology
Team led by PRL Ahmedabad finds ozone on Jupiter’s moon Callisto
- An international team of scientists, including from India, has discovered strong evidence indicating the presence of ozone on Jupiter’s moon Callisto, shedding light on the complex chemical processes taking place on icy celestial bodies in the Solar System.
- The study was published in the March 2024 issue of the journal Icarus.
- It outlines the researchers’ investigation into the chemical evolution of “SO2 astrochemical ice”, which is ice primarily composed of sulphur dioxide (SO2) in the presence of ultraviolet irradiation.
- This shed light on the chemical processes and composition on the surface of
- By analysing the data of the UV absorption spectra of the irradiated ice samples, the team was able to identify a distinct signature indicating the formation of ozone.
- They corroborated their findings by comparing them with data from the Hubble Space Telescope to understand Callisto’s environment and the potential habitability of icy moons in the Solar System.
Appointments
Democratic Republic of Congo Appoints Judith Suminwa Tuluka as the Nation’s First Woman Prime Minister
- The Democratic Republic of Congo appointed Judith Suminwa Tuluka as the African nation’s first woman Prime Minister by replacing Sama Lukonde.
- President Felix Tshisekedi of the Democratic Republic of Congo made the appointment.
- Democratic Republic of the Congo – Kinshasa (Capital) – Congolese franc (Currency) – Felix Tshisekedi (President) – Judith Suminwa Tuluka (Prime Minister) – French (Official Language)
Abdel Fattah Al-Sisi Takes Oath as Egypt’s President
- Egyptian President Abdel Fattah al-Sisi was sworn in for his third term as President of the country.
- He is set to remain president until
- He is holding the position since
- Egypt – Cairo (Capital) – Egyptian pound (Currency) – Abdel Fattah el-Sisi (President) – Moustafa Madbouly (Prime Minister) – Arabic (Official Language)
MCA appoints two part-time members to IBBI Governing Board
- Ministry of Corporate Affairs (MCA) has appointed two part-time members to the Governing Board of insolvency regulator, the Insolvency and Bankruptcy Board of India (IBBI).
- The two part-time members are P. Ram Mohan, a Professor at the Indian Institute of Management (IIM) Ahmedabad, and Dinabandhu Mohapatra, a Non-Executive Independent Director at Indiabulls Housing Limited.
- These appointments will take effect on February 19 for a period of five years or until they attain the age of sixty-five or until further orders, whichever is earlier.
- Dinabandhu Mohapatra, who has over three and half decades of experience in the banking and insurance sector, was former Managing Director & CEO at Bank of India.
- With these appointments, the IBBI Governing Board’s composition is complete in line with the Insolvency and Bankruptcy Code 2016.
- It has now ten members, including the Chairperson, Ravi Mital.
- Already, IBBI has three whole-time members, one Reserve Bank of India (RBI) nominee, and three other ex-officio members from the Department of Economic Affairs in the Finance Ministry, the Corporate Affairs Ministry, the Legislative Department, and the Department of Legal Affairs in the Ministry of Law and Justice.
- Insolvency and Bankruptcy Board of India (IBBI) – 01/10/2016 (Founded) – New Delhi (HQ) – Ravi Mital (Chairman)
Awards and Recognitions
REC limited wins SKOCH ESG Award 2024
- 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.
- Executive Director, REC Limited, S.C. Bosh received the award in New Delhi.
- REC Limited (Rural Electrification Corporation Limited) – 25/07/1969 (Founded) – New Delhi (HQ) – Vivek Kumar Dewagan (CMD)
Obituary
Deanna Syme Tewari passes away
- Former Asian Games athlete and a torchbearer at 1982 Delhi edition, Deanna Syme Tewari, passed away at 85.
- Deanna Syme represented the erstwhile Mysore State, for whom she won the long jump gold at the 1957 National Athletics Championship and at the 1958 National Games.
- She represented India at the 1962 Asian Games in Jakarta and was a torch bearer – alongside hockey icon (late) Balbir Singh Sr. – at the 1982 Asian Games in New Delhi.
World Oldest Man passes away
- Juan Vicente Pérez Mora was a Venezuelan supercentenarian who was the world’s oldest verified living man following the death of Spain’s Saturnino de la Fuente García on January 18 2022 at the age of 114 years, 311 days.
- He was born on May 27 1909 in El Cobre, Venezuela, as the ninth child of Eutiquio Pérez and Edelmira Mora.
- Venezuela – Caracas (Capital) – Venezuelan bolívar (Currency) – Nicolás Maduro (President) – Spanish (Official Language)
Sports News
Mirabai Chanu Becomes the Only Indian Weightlifter to Qualify For Paris Olympics
- Tokyo Olympics medallist Mirabai Chanu became the only Indian weightlifter to qualify for the Paris Olympics this year after competing successfully at the IWF World Cup in Phuket, Thailand.
- The 29-year-old Olympic silver medalist finished third in Group B of the women’s 49kg (and 11th overall) at the event to book her berth at the 2024 Paris Games.
- Chanu, who is back in action after a six-month-long injury lay-off, lifted a total of 184kg at the World Cup, which is the final and a compulsory qualifier for Paris 2024.
- International Olympic Committee (IOC) – 23/06/1894 (Founded) – Lausanne, Switzerland (HQ) – Thomas Bach (President) – 104 active members, 45 honorary members, 1 honour member (United States), 206 individual National Olympic Committees – French & English (Language)
Important Days
World Autism Day 2024
- World Autism Day is annually observed on April 2.
- The day aimed at spreading awareness regarding
- Autism, or autism spectrum disorder (ASD), refers to a broad range of conditions characterized by challenges with social skills, repetitive behaviors, speech and nonverbal communication.
- In 2007, the day was proclaimed by United Nations General Assembly.
International Fact-Checking Day 2024
- International Fact-Checking Day is annually observed on April 2.
- The day is a globally observed initiative that recognizes the crucial role of accurate information in an interconnected world. It is important to recognize the vital work of fact-checkers worldwide who dedicate their efforts to upholding facts.
- In 2016 the day was launched by International Fact-Checking Network.
Defence
Defence exports touch record ₹21,083 crore in FY 2023-24
- Defence exports have touched a record ₹21,083 crores (approx. US$ 2.63 Billion) in the FY24, a growth of 5% over the last fiscal when the figure was ₹15,920 crores.
- 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.
- The private sector and the DPSUs have contributed about 60% and 40% respectively.
- In addition, there has been a rise in the number of export authorisations issued to the defence exporters during FY 2023-24.
- From 1,414 export authorisations in FY 2022-23, the number jumped to 1,507 in FY 2023-24.
- A comparative data of two decades i.e. the period from 2004-05 to 2013-14 and 2014-15 to 2023-24 reveals that there has been a growth of 21 times in the defence exports.
- Total defence exports during 2004-05 to 2013-14 were ₹4,312 crores, which has gone up to ₹88,319 crores in the period from 2014-15 to 2023-24.
IAF’s Biggest Exercise ‘Gagan Shakti’ At Pokhran Field Firing Range In Jaisalmer District
- The Indian Air Force is conducting its biggest exercise ‘Gagan Shakti’ at the Pokhran Field Firing Range in Jaisalmer district, Rajasthan.
- This exercise conducted between April 01 to April 10.
- In the exercise, all the major fighter aircraft and modern helicopters of the Air Force are demonstrating their striking capabilities.
- The exercise is being conducted at various locations across the country, including the Pokhran Field Firing Range in Jaisalmer. Many fighter planes and helicopters including Tejas, Rafale, Sukhoi 30, Jaguar, Globemaster, Chinook, Apache, and Prachanda will participate in the exercise.
- It was last held in 2018, during which the IAF completed over 11,000 sorties during the two-phase air manoeuvres.
Hindustan Aeronautics Limited Delivers Two Dornier 228 Planes to Guyana Defence Force
- The Hindustan Aeronautics Limited has delivered two Dornier 228 planes to the Guyana Defence Force.
- Dornier 228 is a twin engine turboprop, highly versatile multi-mission maritime patrol aircraft.
- The aircraft is lightweight with wide range of operating speeds and fuel efficient uniqueness.
- In 2022, The first-ever made-in-India Dornier 228 aircraft was delivered successfully to Alliance Air.
Daily Current Affairs - April 02 & 03, 2024 - Consolidated
- IICA ties up with HP India to upskill professionals on ESG frameworks
- India Nepal Folk Craft Festival celebrated in Kathmandu
- Devlok Manali – A Cultural Jewel in the Heart of Himachal Pradesh
- UPI transaction in March 2024
- UPI transactions worth ₹199 lakh crore processed on FY24
- Tata AIA launches industry-first payment solutions on WhatsApp
- SEBI Launches New & More User-Friendly Version Of Complaint Redress System – SCORES 2.0.
- IREDA sets New Record: achieves Highest Ever Loan Sanctions and Disbursements
- Second highest monthly Gross GST Revenue collection in March at ₹1.78 lakh crore
- GST collection in FY24 ₹20.18 lakh crore
- World Bank projects Indian economy to grow at 7.5% in 2024
- Oil Marketing Companies Reduced Prices of 19 Kilogram Commercial LPG Cylinders Across Country
- India’s manufacturing PMI hits 59.1 in March, highest since 2008
- Team led by PRL Ahmedabad finds ozone on Jupiter’s moon Callisto
- Democratic Republic of Congo Appoints Judith Suminwa Tuluka as the Nation’s First Woman Prime Minister
- Abdel Fattah Al-Sisi Takes Oath as Egypt’s President
- MCA appoints two part-time members to IBBI Governing Board
- REC limited wins SKOCH ESG Award 2024
- Deanna Syme Tewari passes away
- World Oldest Man passes away
- Mirabai Chanu Becomes the Only Indian Weightlifter to Qualify For Paris Olympics
- World Autism Day 2024
- International Fact-Checking Day 2024
- Defence exports touch record ₹21,083 crore in FY 2023-24
- IAF’s Biggest Exercise ‘Gagan Shakti’ At Pokhran Field Firing Range In Jaisalmer District
- Hindustan Aeronautics Limited Delivers Two Dornier 228 Planes to Guyana Defence Force
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