Daily Current Affairs – April 11 & 12, 2024
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Daily Current Affairs - Banking - April 11 & 12, 2024
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National News
President Murmu Inaugurates Two-Day Homoeopathy Symposium
- President Droupadi Murmu inaugurated a two-day homoeopathy symposium on the occasion of World Homoeopathy Day.
- The theme of the symposium, ‘Empowering Research, Enhancing Proficiency’ was also aligned in this direction.
- The Homoeopathy Symposium with call for Global Collaboration to Enhance the Efficacy and Acceptance of Homoeopathy Worldwide concluded at New Delhi.
- The Homoeopathy Symposium was attended by a gathering of more than 6,000 participants, doctors, scientists, researchers, academicians, students, and faculty, all under one roof, having meaningful interactions for the cause of homoeopathy.
MoRTH builds 12,349 km of highways in FY24, 2nd highest so far
- The Ministry of Road Transport and Highways constructed 12,349 km of national highways in 2023-24, the second highest in its history.
- Previously, the Ministry of Road Transport and Highways (MoRTH) had constructed a record 13,327 kilometres of national highways in 2020-21.
- National highways of 10,331 kilometres were constructed in 2022-23 against 10,457 kilometres in 2021-22.
- Highways of 10,237 kilometres were built in 2019-20.
Command Hospital, Pune becomes the first government hospital across the country to procure and conduct successful piezoelectric bone conduction hearing implants
- Department of Ear, Nose & Throat (ENT) at Command Hospital (Southern Command) in Pune has conducted two piezoelectric Bone Conduction Hearing Implants (BCI) in a 7-year old male child suffering from congenital external and middle ear anomalies with severe degree of hearing loss and one adult with Single Sided Deafness (SSD), becoming the first government hospital across the country to procure and conduct the successful piezoelectric bone conduction hearing implants.
- Active piezoelectric bone conduction hearing implant system is an implantable medical electronic device for hearing impaired patients [conductive loss (including aural atresia), mixed hearing loss and single sided deafness].
- The cost of the equipment has always been a concern, making its outreach limited.
Banking and Finance
ICICI Lombard announced partnership with Policybazaar
- ICICI Lombard General Insurance Company Ltd. entered into a partnership with Policybazaar, an insurance platform.
- The collaboration aims to provide insurance solutions to Indian consumers through Policybazaar’s reach.
- The partnership grants access to nearly 10 million customers, offering insurance products including motor, health, travel, home and business insurance.
- The collaboration covers business lines of the Policybazaar platform, including policybazaar.com for retail audiences, PB for Business for corporates and PB Partners for channel partners.
- This partnership is expected to enhance insurance distribution, ensuring coverage reached every corner of the nation through a seamless digital platform.
HDFC Bank branch opens in Kavaratti
- Private lender HDFC Bank has opened a branch at Kavaratti Island in Lakshadweep, making it the only private sector bank to have a branch in the Union Territory.
- This branch is aimed at upgrading the banking infrastructure in the Union Territory by offering a wide range of services with a focus on personal banking, and digital banking which also includes customised digital solutions including QR based transaction to retailers.
PhonePe, eSewa, And Hotel Association Of Nepal Pokhara Collaborate For UPI Push
- PhonePe has announced its partnership with e-Sewa and the Hotel Association of Nepal (HAN) Pokhara to popularise UPI on the Fonepay Network (a digital payment network in Nepal) as a part of the Fewa New Year Festival.
- The company will run an on-ground activation aimed at raising awareness about digital payments among local merchants while demonstrating the convenience of digital payments for customers.
- Nepal – Kathmandu (Capital) – Nepalese rupee (Currency) – Ram Chandra Poudel (President) – Pushpa Kamal Dahal (Prime Minister) – Nepali (Official Language)
Business and Economy
ADB raises India’s growth forecast to 7% for FY25
- According to Asian Development Bank, Indian economy will likely grow 7% in FY25 growth compared with 7% projected earlier, as public and private investment, along with gradual improvement in the rural economy, support growth.
- And also Indian economy likely grew 6% in FY24.
- Asian Development Bank (ADB) – 19/12/1966 (Founded) – Mandaluyong, Philippines (HQ) – Masatsugu Asakawa (President) – 49 countries (Regional members) & 19 countries (non regional members)
WTO Forecasts Rebound In Global Trade In 2024
- Global goods trade is expected to pick up gradually this year following a contraction in 2023 that was driven by high energy prices and related inflation, World Trade Organization (WTO) economists.
- The volume of world merchandise trade is expected to increase by 6% in 2024 and 3.3% in 2025 after falling 1.2 per cent in 2023.
- World Trade Organization (WTO) – 01/01/1995 (Founded) – Geneva, Switzerland (HQ) – Ngozi Okonjo-Iweala (Director General) – 164 members (160 UN member states, the European Union, Hong Kong, Macao, and Taiwan) – English, French, Spanish (Official Language)
Agreements and MoUs signed
India Sign Protocol Mauritius To Amend Double Taxation Avoidance Pact
- India and Mauritius have signed a protocol to amend the double taxation avoidance agreement (DTAA), which included a principal purpose test (PPT) to decide whether a foreign investor is eligible to claim treaty benefits.
- The introduction of the PPT aims to curtail tax avoidance by ensuring that treaty benefits are only granted for transactions with a bona fide purpose.
- Mauritius – Port Louis (Capital) –Mauritian rupee (Currency) – Prithvirajsing Roopun (President) – Pravind Jugnauth (Prime Minister) – English & French (Official Language)
KABIL and CSIR-IMMT sign MoU for Technical and Knowledge cooperation for Critical Minerals
- Khanij Bidesh India Limited (KABIL) has signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research – Institute of Minerals and Materials Technology (CSIR-IMMT) for Technical & Knowledge cooperation for Critical Minerals.
- Under the MoU, KABIL will leverage the technical expertise and services of CSIR-IMMT to undertake various projects, including the design and analysis of metallurgical test work-plans, development and review of process flowsheets, and the selection of process technologies for mineral processing, beneficiation, and metal extraction.
- Furthermore, the agreement will also embark on joint research and facilitate the exchange of scientific information between the two entities.
NASA signs agreement with Japan Advance Space Cooperation for Lunar Rover
- NASA Administrator Bill Nelson and Japan’s Minister of Education, Culture, Sports, Science and Technology (MEXT) Masahito Moriyama have signed an agreement to advance sustainable human exploration of the Moon.
- Japan will design, develop, and operate a pressurized rover for crewed and uncrewed exploration on the Moon.
- NASA will provide the launch and delivery of the rover to the Moon as well as two opportunities for Japanese astronauts to travel to the lunar surface.
- National Aeronautics and Space Administration (NASA) – 29/07/1958 (Founded) – Washington DC (HQ) – Bill Nelson (Administrator)
- Japan – Tokyo (Capital) – Japanese yen (Currency) – Naruhito (Emperor) – Fumio Kishida (Prime Minister) – Japanese (Official Language)
Appointments
Harendra Singh appointed as coach of Indian women's hockey team
- Former Indian Hockey player and Dronacharya awardee Harendra Singh has been selected by Hockey India as the coach of the senior national women’s hockey team.
- He will be appointed coach until the 2028 Los Angeles Olympics.
- Harendra Singh will replace Janneke Schopman of Holland Janneke Schopman, who is a former Dutch hockey player, resigned last month as the coach of the national women’s team after the Indian team failed to qualify for the Paris Olympics 2024.
Tarun Bajaj appointed as chair of US-India Tax Forum
- The US-India Strategic and Partnership Forum (USISPF) has appointed former Revenue Secretary and ex-Secretary of Economic Affairs Tarun Bajaj as the head of the US-India Tax Forum.
- He joined the USISPF as an advisor to the Board of Directors in January.
- Tax Forum was officially launched on February 25, 2020, and is an initiative to provide member companies with a platform to engage with relevant government officials on tax issues as they conduct business in the US-India corridor, discuss the future of taxation and how businesses and governments can work together in a global world to improve the ease of doing business environment.
RBL Bank appoints Murali Ramakrishnan as independent director
- Private sector lender RBL Bank announced the appointment of banking industry veteran Murali Ramakrishnan as an independent director on its board for a period of four years.
- He retired as the managing director and chief executive of South Indian Bank till 2023.
- RBL Bank – 06/08/1943 (Founded) – Mumbai (HQ) – R.Subramaniakumar (MD & CEO) – “Apno ka Bank” (Tagline)
Suryoday Small Finance Bank appoints Deepak Kumar Sharma as Additional Director
- The Board of Directors of Suryoday Small Finance Bank have appointed Deepak Kumar Sharma as an Additional Director (under the Independent category) on the Board of the Bank, with effect from April 11, 2024.
- This appointment, which is on the basis of the recommendation of the Nomination and Remuneration Committee and subject to the approval of Shareholders of the Bank, is for a period of five consecutive years, with effect from April 11, 2024.
Justice AP Sahi Appointed as Director Of National Judicial Academy
- Former Chief Justice of Madras High Court, Justice AP Sahi has been appointed as the Director of National Judicial Academy (NJA).
- He will succeed Justice (retd) G. Raghuram.
- National Judicial Academy (NJA) – 1993 (Founded) – Bhopal, Madhya Pradesh (HQ)
ASOIF General Assembly elects Ingmar De Vos as future President
- The 48th General Assembly of the Association of Summer Olympic International Federations (ASOIF) met in Birmingham, UK, during the SportAccord World Sport & Business Summit, and unanimously elected Ingmar De Vos (International Equestrian Federation, FEI) as its next President.
- The third term of incumbent President Francesco Ricci Bitti come to an end on 31 December 2024.
- Ingmar De Vos stood unopposed and was elected by secret ballot for a four-year term, beginning on 1 January 2025.
FSIB recommends Manoj Mittal as SIDBI Chairman
- The Financial Services Institutions Bureau (FSIB) has recommended Manoj Mittal as the Chairman and Managing Director of Small Industries Development Bank of India (SIDBI).
- He will replace S Ramann, who joined SIDBI in April 2021.
FSIB recommends Sanjay Shukla as NHB MD
- The Financial Services Institutions Bureau (FSIB) has recommended Sanjay Shukla as Managing Director of National Housing Bank (NHB).
- He will replace Sarada Kumar Hota who joined in June 27, 2019.
Former Pakistan PM Yousuf Raza Gillani elected as Senate Chairman
- Former Pakistan Prime Minister Yousaf Raza Gillani and Pakistan Muslim League-Nawaz (PML-N) leader Syedal Khan Nasir were elected as Pakistan’s Senate chairman and deputy chairman.
- Pakistan – Islamabad (Capital) – Pakistani rupee (Currency) – Asif Ali Zardari (President) – Shehbaz Sharif (Prime Minister) – Urdu (Official Language)
Ranks and Indices
India ranks number 10 in cybercrime
- An international team of researchers has compiled the ‘World Cybercrime Index’ published by the journal PLoS ONE that ranks roughly 100 countries and identifies key hotspots according to various categories of cybercrime, including ransomware, credit card theft and scams.
- India ranked number 10 in cybercrime, with frauds involving people to make advance fee payment being the most common type, according to a new research that surveyed cybercrime experts around the world.
- Russia topped the list, and was followed by Ukraine, China, the US, Nigeria and Romania.
- North Korea was at the seventh position, while the UK and Brazil were at the eighth and ninth positions, respectively
Jawaharlal Nehru University Emerges As Highest-Ranked Indian University In World
- According to the rank released by London-based higher education analytics firm, Quacquarelli Symonds (QS).
- India’s Jawaharlal Nehru University has emerged as the highest-ranked Indian university and also ranked 20th globally in the World University Rankings list.
- 69 Indian universities made it to the rankings with 424 entries in the 2024.
- This marks a 4 per cent rise from the previous year’s 355 entries.
- The next two highest ranked universities in these tables are IIM Ahmedabad, debuting in the 22nd position for Business and Management Studies, while Saveetha Institute of Medical and Technical Sciences (deemed to be university) secured the 24th spot globally in Dentistry and is the only Indian university to achieve a perfect score (100/100).
- IIT Guwahati has been named as one of the world’s top universities for the study of Data Science and Petroleum Engineering subjects, securing a global ranking of 51-70, and Petroleum Engineering, where it ranks 51-100 globally.
Awards and Recognitions
Sagar Samman Awards
- On the occasion of National Maritime Day prestigious Sagar Samman Awards were also awarded.
- SagarSammanVaruna Award: Dhirendra Kumar Sanyal
- Contribution: Highest honor for outstanding and sustained contributions to the Indian maritime sector.
- SagarSamman Award for Excellence: Kamal Kant Choudhury
- Contribution: Recognizes consistently excellent contributions to the maritime sector.
- SagarSamman Award for Gallantry: SubirSaha, Capt. OM Dutta
- Contribution: Honors acts of gallantry by Indian seafarers, encouraging emulation of their exemplary conduct.
- The National Maritime Day Celebrations (Central) Committee Awards (NMDC Awards) for Outstanding Maritime Training Institutes and Recognitions were also announced, recognizing institutions and employers for their exceptional contributions to the maritime industry.
- In the category of Pre-sea training institutes conducting courses for Officer Cadets (Nautical & Engineering), Anglo Eastern Maritime Academy secured the 1st Rank, followed by Tolani Maritime Institute, Talegaon, Pune in 2nd place, and The Great Eastern Institutes of Marine Studies in 3rd place.
- For Post-sea training institutes conducting Competency Courses, Hindustan Institute of Maritime Training, Tidal Park, Thiruvanmiyur, Chennai clinched the 1st Rank, with Hindustan Institute of Maritime Training, Kilpauk, Chennai securing the 2nd Rank, and FOSMA Maritime Institute And Research Organisations, Kolkata attaining the 3rd Rank.
- The Shipping Corporation of India (SCI) received recognition as an Outstanding Indian Employer of Seafarers.
- In the category of Outstanding Foreign Employers of Indian Seafarers, BW Maritime Pvt Ltd. secured the 1st Rank for Shipboard berths between 501 to 1000 GT, while Suntech Crew Management Pvt. Ltd achieved the 2nd Rank.
- For Shipboard berths above 1000 GT, Synergy Maritime Pvt Ltd emerged as the 1st Rank holder, followed by Anglo Eastern Ship Management Pvt Ltd. in 2nd place, and MSC Crewing Services Private Limited in 3rd place.
- These awards highlight the exemplary standards set by these institutions and employers in the maritime training and employment sector, contributing significantly to the industry’s growth and excellence.
Avantika Vandanapu named as South Asian Person Of The Year
- Indian-American actor and ‘Mean Girls’ star Avantika Vandanapu was named the South Asian Person of the Year by Harvard University.
- The 19-year-old was recognised for her outstanding achievements and impact on both the international and Indian entertainment industries.
Obituary
Peter Higgs passed away
- British Physicist Peter Higgs, whose theory of an undetected particle in the universe changed science and was vindicated by a Nobel prize-winning discovery half a century late passed away at
- On October 8 2013, it was announced that Higgs and François Englert would share the 2013 Nobel Prize in Physics “for the theoretical discovery of a mechanism that contributes to our understanding of the origin of mass of subatomic particles”.
Important Days
World Parkinson's Day 2024 is observed on April 11
- World Parkinson’s Day is annually observed on April 11.
- In 1817, James Parkinson was the first person to discover the first case of Parkinson’s Disease.
- In 1997, European Association for Parkinson’s Disease announced that April 11 will be observed as World Parkinson’s Day every year.
- Parkinson’s Disease is a progressive neurodegenerative disorder that mainly targets the nervous system and affects the parts of the body controlled by nerves.
National Safe Motherhood Day 2024 is observed on April 11
- National Safe Motherhood Day is annually observed on April 11.
- The day is celebrated to highlight the importance of maternal health and wellness and reduce maternal mortality rate in the country.
- The day also marks the birth anniversary of Kasturba Gandhi.
- In 2003, The Government of India officially recognised April 11 as National Safe Motherhood Day.
International Day of Human Space Flight is observed on April 12
- International Day of Human Space Flight is annually observed on April 12.
- The day is celebrated to honour the first person, Yuri Gagarin.
- The United Nations General Assembly, in its resolution A/RES/65/271 of April 7 2011, declared 12 April as the International Day of Human Space Flight.
- On October 4 1957 the first human-made Earth satellite Sputnik I was launched into outer space, thus opening the way for space exploration.
- On April 12 1961, Yuri Gagarin became the first human to orbit the Earth, opening a new chapter of human endeavour in outer space.
Daily Current Affairs - March 11 & 12, 2024 - Consolidated
- President Murmu Inaugurates Two-Day Homoeopathy Symposium
- MoRTH builds 12,349 km of highways in FY24, 2nd highest so far
- Command Hospital, Pune becomes the first government hospital across the country to procure and conduct successful piezoelectric bone conduction hearing implants
- ICICI Lombard announced partnership with Policybazaar
- HDFC Bank branch opens in Kavaratti
- PhonePe, eSewa, And Hotel Association Of Nepal Pokhara Collaborate For UPI Push
- ADB raises India’s growth forecast to 7% for FY25
- WTO Forecasts Rebound In Global Trade In 2024
- India Sign Protocol Mauritius To Amend Double Taxation Avoidance Pact
- KABIL and CSIR-IMMT sign MoU for Technical and Knowledge cooperation for Critical Minerals
- NASA signs agreement with Japan Advance Space Cooperation for Lunar Rover
- Harendra Singh appointed as coach of Indian women’s hockey team
- Tarun Bajaj appointed as chair of US-India Tax Forum
- RBL Bank appoints Murali Ramakrishnan as independent director
- Suryoday Small Finance Bank appoints Deepak Kumar Sharma as Additional Director
- Justice AP Sahi Appointed as Director Of National Judicial Academy
- ASOIF General Assembly elects Ingmar De Vos as future President
- FSIB recommends Manoj Mittal as SIDBI Chairman
- FSIB recommends Sanjay Shukla as NHB MD
- Former Pakistan PM Yousuf Raza Gillani elected as Senate Chairman
- India ranks number 10 in cybercrime
- Jawaharlal Nehru University Emerges As Highest-Ranked Indian University In World
- Sagar Samman Awards
- Avantika Vandanapu named as South Asian Person Of The Year
- Peter Higgs passed away
- World Parkinson’s Day 2024 is observed on April 11
- National Safe Motherhood Day 2024 is observed on April 11
- International Day of Human Space Flight is observed on April 12
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