Daily Current Affairs – April 21 & 22, 2024
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Daily Current Affairs - Banking - April 21 & 22, 2024
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National News
National Fertilizers gets Navratna status
- The Department of Public Enterprise has granted “Navratna” status to the National Fertilizers Ltd.
- The term ‘Navratna’ refers to a select group of top-performing Central Public Sector Enterprises (CPSEs) that have been granted greater autonomy and financial powers by the Centre in recognition of their performance.
- As of now there are 17 Navaratna Companies in India.
- The other 16 companies Bharat Electronics Limited, Container Corporation of India Limited, Engineers India Limited, Hindustan Aeronautics Limited, Hindustan Petroleum Corporation Limited, Mahanagar Telephone Nigam Limited, National Aluminium Company Limited, NBCC (India) Limited, NMDC Limited, NLC India Limited, Oil India Limited, Power Finance Corporation Limited, Power Grid Corporation of India Limited, Rashtriya Ispat Nigam Limited, Rural Electrification Corporation Limited and Shipping Corporation of India Limited.
State News
6 year old Vaghani from Ahmedabad made record of lowest limbo skating
- Six-year-old Takshvi Vaghani from Ahmedabad has made the record of shortest limbo skating by 25 metres.
- This has been confirmed by Guinness World Records (GWR) on April 18 2024.
- According to Guinness World Records the previous record holder for lowest limbo sacking of more than 25 meters was also an Indian.
- It was Manasvi Vishal of Pune who first achieved this distinction.
- Manasvi had achieved this feat by covering a distance of 25 meters with a height of 5 centimeters from the ground.
- But Takshvi covered a distance of 16 cm and broke Manasvi Vishal’s record and created a new record.
Banking and Finance
Net Direct Tax collections (provisional) for Financial Year 2023-24 exceed Union Budget Estimates by ₹1.35 lakh crore i.e. by 7.40%
- The provisional figures of Direct Tax collections for the Financial Year (FY) 2023-24 show that Net collections are at ₹19.58 lakh crore, compared to ₹16.64 lakh crore in the preceding Financial Year i.e. FY 2022-23, representing an increase of 70%.
- The Budget Estimates (BE) for Direct Tax revenue in the Union Budget for FY 2023- 24 were fixed at ₹18.23 lakh crore which were revised and the Revised Estimates (RE) were fixed at ₹19.45 lakh crore.
- The provisional Direct Tax collections (net of the refunds) have exceeded the BE by 40% and RE by 0.67%.
- The Gross collection (provisional) of Direct Taxes (before adjusting for refunds) for the FY 2023-24 stands at ₹23.37 lakh crore showing a growth of 18.48% over the gross collection of ₹19.72 lakh crore in FY 2022-23.
- The Gross Corporate Tax collection (provisional) in FY 2023-24 is at ₹11.32 lakh crore and has shown a growth of 06% over the gross corporate tax collection of ₹10 lakh crore of the preceding year.
- The Net Corporate Tax collection (provisional) in FY 2023- 24 is at ₹9.11 lakh crore and has shown a growth of 10.26% over the net corporate tax collection of ₹8.26 lakh crore of the preceding year.
- The Gross Personal Income Tax collection (including STT) (provisional) in FY 2023- 24 is at ₹12.01 lakh crore and has shown a growth of 26% over the Gross Personal Income Tax collection (including STT) of ₹9.67 lakh crore of the preceding year.
- The Net Personal Income Tax collection (including STT) (provisional) in FY 2023-24 is at ₹10.44 lakh crore and has shown a growth of 23% over the Net Personal Income Tax collection (including STT) of ₹8.33 lakh crore of the preceding year.
- Refunds of ₹3.79 lakh crore have been issued in the FY 2023-24 showing an increase of 74% over the refunds of ₹3.09 lakh crore issued in FY 2022-23.
IREDA Reports All-Time High Annual Net Profit
- Indian Renewable Energy Development Agency Ltd. (IREDA), the nation’s largest pure-play green financing NBFC, has achieved an all-time high annual Profit After Tax (PAT) of ₹1252.23 crores, marking an impressive growth of 83% over the previous fiscal year 2022-23.
- The company has successfully reduced its Net Non-Performing Assets (NPAs) to 99% in FY 2023-24, from 1.66% in FY 2022-23, demonstrating a significant reduction of 40.52% year-on-year.
- The Loan Book of IREDA has grown by 81%, from ₹47,052.52 crores as on March 31 2023 to ₹59,698.11 crores as on March 31 2024.
- The company has achieved all-time high annual Loan Sanctions of ₹37,353.68 crores and Disbursements of ₹25,089.04 crores in Financial Year 2023-24, registering an increase of 63% and 15.94% respectively, over loan sanctions of ₹32,586.60 crores and disbursements of ₹21,639.21 crores in the previous year.
- This marks the highest annual loan disbursement and sanction in the history of the company.
- The net-worth of the company has grown by 22%, having reached ₹8,559.43 crores as on March 31 2024 as against ₹5,935.17 crores for the year ending March 31 2023.
- Indian Renewable Energy Development Agency Limited (IREDA) – 1987 (Formed) – New Delhi (HQ) – Pradip Kumar Das (Chairman & MD)
Business and Economy
World Economic Forum report: Global space economy to be worth $1.8 trillion by 2035
- According to the report titled “The $1.8 trillion opportunity for global economic growth,” by World Economic Forum in partnership with McKinsey & Company, the space economy is anticipated to exponentially grow to a staggering $1.8 trillion by
- The space economy’s worth will rise from $630 billion in 2023 to an astronomical $1.8 trillion by 2035, enjoying an average growth of 9 percent substantially surpassing the growth rate of global GDP.
- Furthermore, non-traditional players, like ride-hailing apps, will exponentially benefit from the space economy.
- World Economic Forum (WEF) – January 1971 (Founded) – Cologny, Switzerland (HQ) – Borge Brend (President)
Flipkart’s venture fund invites startup applications for third cohort of its accelerator programme
- Flipkart Ventures, the corporate venture fund from e-commerce company Flipkart announced the opening of applications for the third cohort of its accelerator programme Flipkart Leap Ahead.
- The early-stage tech startup-focused accelerator will invite applications from April 22 to May 26, 2024.
- Startups leveraging GenAI in their core solutions across sectors will receive equity funding between $200,000 and $500,000 in addition to mentorship to achieve product-market fit, build scalable architecture, and assemble strong teams.
- The two-month mentorship programme will conclude with a demo day where startups will share their progress and plans with potential investors to secure additional funding for their expansion.
- In its previous two cohorts, over 15 startups across deep tech, fintech, health tech, generative AI, and sustainability have raised funding.
- The inaugural and preceding cohorts included startups that received further investments such as RightBot, Tune.ai, LivWell, FlexifyMe, Dopplr, etc.
Nature
A new Species Clouded Tiger Cat Found in Brazil's Rainforest
- A new tiger species has been recently discovered in the dense rainforests of
- The clouded tiger cat named as Leopardus pardinoides, this cat may be small but it is significant for biodiversity and conservation.
- The clouded tiger cat is found in the cloud forests of the southern Central American and Andean mountain chains, spanning from Costa Rica to Argentina.
- Brazil – Brasília (Capital) – Real (Currency) – Lula da Silva (President) – Portuguese (Official Language)
Power
SJVN Green Energy forms JV with Assam Power Distribution Company
- State-owned power producer SJVN said its wholly-owned arm SJVN Green Energy has incorporated a joint venture company with Assam Power Distribution Company to generate electricity from renewable sources.
- The joint venture company — SGEL Assam Renewable Energy, shall carry out business in the field of power generation from all renewable energy sources including hydro power by setting up power plants.
- SJVN Green Energy will hold 51 per cent in SGEL Assam Renewable Energy.
- SJVN, formerly known as Satluj Jal Vidyut Nigam – 1988 (Founded) – Shimla (HQ) – Nand Lal Sharma (Chairman & MD)
Appointments
Maldives President Muizzu’s wins parliamentary elections
- Maldives President Mohamed Muizzu’s political party secured a “super majority” in parliamentary elections, seen as a strong endorsement of his pro-Beijing foreign policy.
- His People’s National Congress (PNC) won 70 out of 93 seats in the People’s Majlis.
- Maldives – Male (Capital) – Maldivian rufiyaa (Currency) – Mohamed Muizzu (President) – Dhivehi (Official Language)
Keki M Mistry appointed as chairman, non-executive director of HDFC Life
- Keki M Mistry was appointed as chairman and non-executive director of HDFC Life Insurance by replacing Deepak Parekh.
- He was the vice-chairman and chief executive officer (CEO) of the Housing Development Finance Corporation (HDFC) Limited.
Sports News
D Gukesh makes history as youngest-ever player to win FIDE Candidates title
- Indian Grandmaster D Gukesh defeated Hikaru Nakamura of the USA clinched the FIDE Candidates 2024 Open title to become the youngest winner of the prestigious tournament after an exciting finish in the 14th and final round at the Great Hall of Toronto, Canada.
- He also became the first Indian since Viswanathan Anand in 2014 to win the Candidates.
- Canada – Ottawa (Capital) – Canadian Dollar (Currency) – Charles III (Monarch) – Justin Trudeau (Prime Minister) – English (Official Language)
Tarun clinches gold at Spanish Para-Badminton tournament
- India’s Tarun emerged victorious over compatriot Sukant Kadam to claim the gold medal in the SL 4 category at the esteemed Spanish Para Badminton tournament.
- In SL3 category, Kumar Nitesh, Manoj Sarkar and Jagadesh Dilli secured gold, silver and bronze for India.
- In the SH 6 category, Sivarajan Solaimalai secured bronze and Nithya Sre Sivan
- Deep Ranjan and Manoj secured silver while Umesh Vikram and Surya Kant bagged bronze in the men’s doubles SL 3and SL 4
- Spain – Madrid (Capital) – Euro (Currency) – Felipe VI (Monarch) – Pedro Sánchez (Prime Minister) – Spanish (Official Language)
Yuki Bhambri wins ATP 250 BMW Open men's doubles title
- India’s Yuki Bhambri and his French partner Albano Olivetti clinched the ATP 250 BMW Open in Munich, Germany.
- This was his second ATP title.
- Last year, he won the Mallorca Open.
- Germany – Berlin (Capital) – German (Official Language) – Frank-Walter Steinmeier (President) – Olaf Scholz (Chancellor) – Euro (Currency)
Max Verstappen wins Chinese Grand Prix
Position | Player | Country | Company |
1 | Max Verstappen | Belgium | Red Bull |
2 | Lando Norris | United Kingdom | McLaren |
3 | Sergio Pérez | Mexico | Red Bull |
Important Days
Chinese Language Day is observed on April 20
- Chinese Language Day is annually celebrated on April 20.
- Chinese was established as an official language of the United Nations in 1946.
- Language Days at the United Nations seek to celebrate multilingualism and cultural diversity as well as to promote equal use of all six official languages throughout the Organization.
- These are Arabic, Chinese, English, French, Russian and Spanish.
National Civil Service Day 2024 is observed on April 21
- National Civil Service Day is annually observed on April 22 by the Government of India.
- This day is celebrated with the aim of acknowledging the exemplary work done by civil servants across the country.
- In 1947, Sardar Vallabh Bhai Patel announced that National Civil Service Day will be observed every year to honour the contributions of the civil servants for the country.
- The first National Civil Services Day was observed at Vigyan Bhavan, on April 21, 2006.
Earth Day 2024 is observed on April 22
- Earth Day is annually celebrated on April 22.
- The Day reminds the world about the importance of environment conservation and sustainability, encouraging us to come together and take action for a healthier planet and brighter future.
- The day was first observed in
- Theme – Planet vs Plastics
Defence
Indian Navy conducts exercise Poorvi Lehar on the east coast
- Indian Navy conducted Exercise Poorvi Lehar on East Coast under the Operational Control of The Flag Officer Commanding-in-Chief, Eastern Naval Command.
- The exercise aimed at validation of procedures towards assessment of Indian Navy’s preparedness to meet Maritime Security challenges in the region.
- The exercise witnessed participation of Ships, Submarines, Aircrafts and Special Forces.
- XPOL was conducted in multiple phases including combat training in a realistic scenario during the Tactical Phase and successful conduct of various firings during the Weapon Phase towards reaffirming Indian Navy’s capability to deliver ordnance on target.
- With operation of aircraft from diverse locations, a near continuous Maritime Domain Awareness was maintained throughout the Area of operations.
- In addition to the participation of assets from Eastern Naval Command, the exercise also witnessed participation of assets from IAF, Andaman & Nicobar Command and Coast Guard indicating a very high degree of interoperability amongst the Services.
- The Exercise offered valuable lessons to participating forces operating under realistic conditions, thereby enhancing their readiness to respond effectively to maritime challenges in the region.
- The successful conclusion of XPOL 2024, reaffirms Indian Navy’s resolve to meet growing security challenges in the maritime domain.
- Indian Navy – 26/01/1950 (Founded) – New Delhi (HQ) – Navy Day (December 4) – Admiral R. Hari Kumar (Chief of Naval Staff) – ‘May the Lord of Water be auspicious unto us’ (Motto)
Daily Current Affairs - April 21 & 22, 2024 - Consolidated
- National Fertilizers gets Navratna status
- 6 year old Vaghani from Ahmedabad made record of lowest limbo skating
- Net Direct Tax collections (provisional) for Financial Year 2023-24 exceed Union Budget Estimates by ₹1.35 lakh crore i.e. by 7.40%
- IREDA Reports All-Time High Annual Net Profit
- World Economic Forum report: Global space economy to be worth $1.8 trillion by 2035
- Flipkart’s venture fund invites startup applications for third cohort of its accelerator programme
- A new Species Clouded Tiger Cat Found in Brazil’s Rainforest
- SJVN Green Energy forms JV with Assam Power Distribution Company
- Maldives President Muizzu’s wins parliamentary elections
- Keki M Mistry appointed as chairman, non-executive director of HDFC Life
- D Gukesh makes history as youngest-ever player to win FIDE Candidates title
- Tarun clinches gold at Spanish Para-Badminton tournament
- Yuki Bhambri wins ATP 250 BMW Open men’s doubles title
- Max Verstappen wins Chinese Grand Prix
- Chinese Language Day is observed on April 20
- National Civil Service Day 2024 is observed on April 21
- Earth Day 2024 is observed on April 22
- Indian Navy conducts exercise Poorvi Lehar on the east coast
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