Daily Current Affairs – April 14 & 15, 2024
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Daily Current Affairs - Banking - April 14 & 15, 2024
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International News
India gifts 35 ambulances, 66 school buses to organisations in Nepal
- India donated 35 ambulances and 66 school buses to various organisations across Nepal, enhancing the local infrastructure in the health and education sectors.
- Indian Ambassador to Nepal Naveen Srivastava handed over the vehicles to the Nepalese officials in the presence of Finance Minister Barshaman Pun.
- Nepal – Kathmandu (Capital) – Nepalese rupee (Currency) – Ram Chandra Poudel (President) – Pushpa Kamal Dahal (Prime Minister) – Nepali (Official Language)
Banking and Finance
CAMS gets RBI’s nod to operate as an online payment aggregator
- Computer Age Management Services Ltd (CAMS) said the Reserve Bank of India (RBI) has granted authorisation to the company to operate as an online payment aggregator.
- The certificate of authorisation bearing No 183/2024 has been received by the company.
- The company received an in-principle authorisation from RBI in February 2023
- CAMSPay, the payment business unit of the company, has been in the payment solutions industry for the past 15 years.
- It serves a diverse portfolio of clients which include mutual funds, insurance companies, banks and non-banking finance companies.
- In March 2024, CAMSPay achieved a registration of more than a 1.2 million mandates for UPI autopay.
CARE Rating: IIFL’s gold book could run down in next 2-3 quarters if RBI’s restrictions prolong
- CARE Ratings has cautioned that if the Reserve Bank of India’s restrictions on IIFL Finance Ltd (IIFL) prolong, its gold book is expected to run down in the next 2-3 quarters.
- Gold loans constituted about 79 per cent of the non-banking finance company’s standalone Assets Under Management (AUM) of ₹31,430 crores as on December-end 2023.
- These loans constituted about 32 per cent of IIFL’s consolidated AUM (of ₹77,444 crore) as on December 31, 2023.
Business and Economy
Number of unicorns in India to rise by a fifth in FY25
- The number of unicorns in the Indian startup ecosystem is set to go up by around a fifth (20%) in FY25, with around 20-odd soonicorns rapidly closing in on the magic number.
- Among the probables are online ticketing platform Bookmyshow, fintechs Navi, Paymate, Refyne, Clear, Ind Money, and Jupiter, agritech firm Ninjacart and e-commerce platform Biz on Go.
- All these are currently valued in the range of $600-930 million.
- The two that are closest to the finish line are fintechs Turtlemint and Paymate with valuation of over $900 million.
Automobile exports from India dip 5.5% in FY24
- According to the latest data shared by industry body Society of Indian Automobile Manufacturers (SIAM), automobile exports from India declined 5 per cent in FY24 due to the monetary crisis in various overseas markets.
- Overall exports stood at 45,00,492 units in the last fiscal compared to 47,61,299 units in FY23.
- In the passenger vehicle segment, exports increased 4 per cent to 6,72,105 units in FY24 from 6,62,703 units in FY23.
- Three-wheeler exports declined 18 per cent to 2,99,977 units last fiscal compared to 3,65,549 units in the 2022-23 financial year.
- Society of Indian Automobile Manufacturers (SIAM) – May 1998 (Founded) – New Delhi (HQ) – Vinod Aggarwal (President)
iPhone exports under PLI double to $10 billion in a year
- Apple has set a new record by exporting $10 billion worth of iPhones from India during FY24, according to data provided to the government — a 100 per cent increase over the previous financial year under the Production-Linked Incentive (PLI) scheme.
- In terms of consumer products, this constitutes the largest-ever export of a single branded product by any company from India.
- iPhone exports accounted for 70 per cent of Apple’s total production in FY24.
- Of the three suppliers, Foxconn exported 60 per cent of its total iPhone output; Pegatron 74 per cent; and Wistron (now the Tatas) 97 per cent.
- Apple’s total iPhone production by its three suppliers touched $14 billion during the financial year.
Power
India adds record 18 GW renewable energy capacity in FY24
- India has added a record renewable energy capacity of 48 GW in 2023-24, which is over 21 per cent higher than 15.27 GW a year ago, according to the latest data of the Ministry of New & Renewable Energy.
- However, industry experts said there is a need to add at least 50 GW of renewable energy capacity annually for the next six years to meet the ambitious target of 500 GW of renewables by
- According to the data, India’s installed renewable energy capacity is 64 GW as of March 31, 2024, excluding 47 GW of large hydropower capacity (each plant is more than 25 GW or above).
Appointments
NSE CEO Ashish Chauhan, Zoho founder Sridhar Vembu appointed UGC members for 3 years
- The central government notified the appointment of National Stock Exchange CEO and managing director Ashish Kumar Chauhan and Zoho founder Sridhar Vembu as members of the University Grants Commission (UGC), India’s regulator for higher education, taking the body’s strength to eight members from just four.
- The Department of Higher Education in the Education Ministry also appointed Sachidananda Mohanty, former vice chancellor of the Central University of Odisha and serving vice chancellor of the National Institute of Educational Planning and Administration Shashikala Gulabrao Wanjari to the Commission, with a tenure of three years, or till further orders.
- As per the UGC Act of 1956, the Commission can have ten members, apart from the chairman and vice chairman, roles that are currently occupied by Mamidala Jagadesh Kumar and Deepak Kumar Srivastava, respectively.
- Of the remaining ten members, two are required to be central government officials.
- These roles are occupied by Higher Education Secretary Sanjay Murthy and Additional Secretary in the Expenditure Department of the Finance Ministry, Sanjay Prasad.
Vietnam’s vice president becomes interim president
- Vietnam’s Vice President Vo Thi Anh Xuan will serve as acting president after the previous president’s resignation a year into the position.
- She became vice president in 2021 and she will be serving as acting president for the second time.
- President Vo Van Thuong resigned due to unspecified violations that hurt the perception and reputation of the party and the state.
- Vietnam – Hanoi (Capital) – Vietnamese dong (Currency) – Vo Thi Anh Xuan (Acting President) – Phạm Minh Chính (Prime Minister) – Vietnamese (Official Language)
Iceland appoints Bjarni Benediktsson as Prime Minister
- Iceland has appointed Bjarni Benediktsson to replace Katrín Jakobsdóttir as prime minister after she resigned to run in the country’s upcoming presidential election.
- He was previously the Nordic country’s foreign minister, officially took over from Katrín Jakobsdóttir.
- Iceland – Reykjavík (Capital) – Icelandic króna (Currency) – Guðni Th. Jóhannesson (President) – Bjarni Benediktsson (Prime Minister) – Icelandic (Official Language)
Byju’s India CEO Arjun Mohan resigns
- Arjun Mohan, the CEO of Byju’s India, has resigned from his position in a little over six months after he took over, with founder Byju Raveendran resuming daily operational responsibilities.
- Arjun Mohan had replaced Mrinal Mohit in 2023 as the company CEO.
- Both of them were former students of Raveendran.
Awards and Recognitions
Jain Acharya Lokesh Muni honored with US President’s Gold Volunteer Service
- India’s Jain spiritual leader Lokesh Muni has been presented with the US President’s Gold Volunteer Service award in recognition of his contribution to the public good and humanity.
- Founder of Ahimsa Vishwa Bharati and World Peace Center in India, Muni received the Presidential Award Golden Shield, and Certificate of Honour from senior Democratic Congressman Brad Sherman.
Prestigious John Dirks Gairdner global health awarded for Dr Gagandeep Kang
- Dr Gagandeep Kang, Director of Global Health at the Bill and Melinda Gates Foundation, has been selected for the prestigious John Dirks Award in global health.
- It is the most well-recognised global health award.
- The John Dirks Award in global health is awarded by the Gairdner Foundation in Canada.
- She is the first Indian woman to get this award.
- The Toronto-based Gairdner Foundation was set up in 1958 with a donation from philanthropist James A Gairdner.
- The awards have become Canada’s most prestigious prize for breakthrough research conducted around the world in biomedical science.
- Five international awards plus one for advancing global health are bestowed annually.
- Recipients also collect $100,000 each.
Avi Wigderson receives ACM A.M. Turing award for groundbreaking insights on randomness
- ACM, the Association for Computing Machinery, named Avi Wigderson as recipient of the 2023 ACM A.M. Turing Award for foundational contributions to the theory of computation, including reshaping our understanding of the role of randomness in computation, and for his decades of intellectual leadership in theoretical computer science.
- Avi Wigderson is the Herbert H. Maass Professor in the School of Mathematics at the Institute for Advanced Study in Princeton, New Jersey.
- He has been a leading figure in areas including computational complexity theory, algorithms and optimization, randomness and cryptography, parallel and distributed computation, combinatorics, and graph theory, as well as connections between theoretical computer science and mathematics and science.
- The ACM A.M. Turing Award, often referred to as the “Nobel Prize of Computing,” carries a $1 million prize with financial support provided by Google, Inc.
- The award is named for Alan M. Turing, the British mathematician who articulated the mathematical foundations of computing.
Sports News
Rohit Sharma becomes first Indian to hit 500 T20 sixes
- India and Mumbai Indians (MI) star batter Rohit Sharma became the first Indian to smash 500 sixes in T20 cricket.
- The ‘Hitman’ achieved this milestone during his side’s Indian Premier League (IPL) match against Chennai Super Kings (CSK) at Wankhede Stadium.
- He scored 105* in 63 balls.
- His knock was studded with 11 boundaries and 5 sixes.
- With these sixes, Rohit Sharma’s six tally has gone up to 502 sixes.
Arjun and Jeevan won double’s title at Challenger tennis tournament
- Indian Shuttlers Arjun Kadhe and Jeevan Nedunchezhiyan beat Piotr Matuszewski (Poland) and Matthew Romios (Australia) in the Men’s doubles final of the $82,000 Challenger tennis tournament held in Cuernavaca, Mexico.
- Mexico – Mexico City (Capital) – Mexican peso (Currency) – Andrés Manuel López Obrador (President) – Spanish (Official Language)
Important Days
World Quantum Day 2024
- World Quantum Day is annually observed on April 14.
- The day aims at promoting the public awareness and understanding of quantum science and quantum technology around the world.
- The Day started on 14 April 2021 as an initiative by an international group of scientists.
- The first World Quantum Day in 2022 included 200+ events in more than 40 countries across 5 continents.
- India celebrates World Quantum Day 2024 with aspirations to become a global leader in various fields of Quantum Science and Technology.
- Quantum Mechanics, the study of atoms and sub-atomic particles, has now advanced to such an extent that it has now moved to the engineering domain and is leading to novel and varied applications.
- Researchers worldwide have utilized its principles to develop technologies such as LEDs, lasers, and ultra-precise atomic clocks used in the Global Positioning System.
Defence
DRDO & Indian Army conduct successful trials of indigenous Man Portable Anti-tank Guided Missile Weapon System
- Man Portable Anti-tank Guided Missile (MPATGM) Weapon System, indigenously designed and developed by Defence Research & Development Organisation (DRDO), has been field evaluated in different flight configurations several times with the objective of proving the technology with high superiority.
- The system consisted of the MPATGM, Launcher, Target Acquisition System, and the Fire Control Unit.
- Adequate number of missile firing trials have been successfully conducted towards achieving compliance of complete operational envelop as stipulated in the General Staff Qualitative Requirements (Infantry, Indian Army).
- The Warhead Flight Trials were successfully conducted at the Pokhran Field Firing Range, Rajasthan.
- Missile performance and warhead performance were found to be remarkable.
- Penetration trials of the Tandem Warhead System of MPATGM have been successfully completed and it is found capable of defeating modern armour protected Main Battle Tank.
- The ATGM system is well-equipped with day/night and top attack capability.
- Dual mode seeker functionality is a great value addition to the missile capability for tank warfare.
- With this, technology development and successful demonstration have been concluded and the system is now ready for Final User Evaluation Trials leading towards its induction into the Indian Army.
- Indian Army – 26/01/1950 (Founded) – New Delhi (HQ) – Army Day (January 15) – General Manoj Pande (Chief of Army Staff) – “Service Before Self” (Motto)
- Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)
India-Uzbekistan Joint Military Exercise DUSTLIK begins
- The 5th edition of India-Uzbekistan Joint Military Exercise Dustlik will commence at Termez District in Uzbekistan from April 15 to April 28.
- The 4th edition of the joint military exercise between the Indian Army and Uzbekistan Army was held on February 20 2023 at the Foreign Training Node, Pithoragarh in Uttarakhand.
- The Indian Army contingent comprises troops from an infantry battalion from the Garhwal Rifles Regiment.
- The 1st edition of the exercise was held in Uzbekistan in November 2019.
- Uzbekistan – Tashkent (Capital) – Uzbek som (Currency) – Shavkat Mirziyoyev (President) – Abdulla Nigmatovich Aripov (Prime Minister) – Uzbek (Official Language)
Daily Current Affairs - April 14 & 15, 2024 - Consolidated
- India gifts 35 ambulances, 66 school buses to organisations in Nepal
- CAMS gets RBI’s nod to operate as an online payment aggregator
- CARE Rating: IIFL’s gold book could run down in next 2-3 quarters if RBI’s restrictions prolong
- Number of unicorns in India to rise by a fifth in FY25
- Automobile exports from India dip 5.5% in FY24
- iPhone exports under PLI double to $10 billion in a year
- India adds record 18 GW renewable energy capacity in FY24
- NSE CEO Ashish Chauhan, Zoho founder Sridhar Vembu appointed UGC members for 3 years
- Vietnam’s vice president becomes interim president
- Iceland appoints Bjarni Benediktsson as Prime Minister
- Byju’s India CEO Arjun Mohan resigns
- Jain Acharya Lokesh Muni honored with US President’s Gold Volunteer Service
- Prestigious John Dirks Gairdner global health awarded for Dr Gagandeep Kang
- Avi Wigderson receives ACM A.M. Turing award for groundbreaking insights on randomness
- Rohit Sharma becomes first Indian to hit 500 T20 sixes
- Arjun and Jeevan won double’s title at Challenger tennis tournament
- World Quantum Day 2024
- DRDO & Indian Army conduct successful trials of indigenous Man Portable Anti-tank Guided Missile Weapon System
- India-Uzbekistan Joint Military Exercise DUSTLIK begins
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