Daily Current Affairs 30th April, 2024
Daily Current Affairs 30 April 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
UN’s first international conference on Digital Public Infrastructure held under India’s leadership
- The United Nation’s First International Conference on Digital Public Infrastructure was held under India’s leadership to harness the technology to propel Sustainable Development Goals (SDGs) and foster inclusivity.
- The conference prominently featured India’s pioneering Citizen Stack initiative, inspired by the transformative India Stack, showcasing the nation’s successful integration of technology into citizen services.
- This event marked a significant step in promoting international cooperation for the development of digital infrastructure globally.
- The conference also showcased case studies demonstrating how components of Citizen Stack, like the Modular Open Source Identity Platform, are helping countries such as Ethiopia and the Philippines tailor DPI to their specific needs and achieve digital sovereignty.
Mines Ministry Inks MoU with Shakti Sustainable Energy Foundation for Providing Knowledge Support in the Field of Critical Minerals
- The ‘Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities’ commenced at the India Habitat Centre, New Delhi. The summit, designed to foster collaboration and innovation in critical minerals beneficiation and processing, was inaugurated under the patronage of the Ministry of Mines, with V L Kantha Rao, Secretary of Mines, presiding over the opening ceremony.
- The summit featured exhibition pavilions showcasing a diverse array of minerals sourced from both terrestrial and marine environments, providing attendees with a comprehensive view of the critical minerals landscape.
- On the sidelines of the summit, a Memorandum of Understanding (MoU) was signed between the Ministry of Mines and Shakti Sustainable Energy Foundation. This MoU initiates a partnership between Ministry of Mines, Shakti Sustainable Energy Foundation, Council on Energy, Environment and Water (CEEW) and TERI.
- This MoU initiates a partnership between Ministry of Mines, Shakti Sustainable Energy Foundation, Council on Energy, Environment and Water (CEEW) and TERI.
INTERNATIONAL NEWS
World Economic Forum Summit held in Riyadh
- The World Economic Forum’s special meeting on global collaboration, growth and energy for development, scheduled to take place in Riyadh, is expected to address global challenges as geopolitical tensions increase.
- The meeting bring together more than 700 participants, including stakeholders from governments and international organisations, politicians and corporate leaders, as Saudi Arabia aims to boost its global profile.
- WEF, held under three themes – catalysing action on energy for development, a compact for inclusive growth and revitalising global co-operation – the event aims to bridge the growing North-South divide, which has further widened on issues such as emerging economic policies, the energy transition and geopolitical shocks.
Indian Navy Takes Part In Maritime Partnership Exercise With UK’s Littoral Response Group
- Indian Navy’s indigenous, INS Sahyadri participated in Maritime Partnership Exercise with Royal Navy’s RFA Argus and RFA Lyme Bay, part of the UK Littoral Response Group South at Sea.
- The exercise provided an opportunity for both navies to exchange best practices. This exercise demonstrates the Indian Navy’s commitment in strengthening maritime partnerships and promotes regional stability.
- The exercise aimed to enhance interoperability and strengthen maritime cooperation between the two nations, Exercise Highlights include Tactical manoeuvres, Boarding operations, Surface engagement against simulated asymmetric threats, Cross-deck visits, and Cross-deck helicopter operations.
26th edition of World Energy Congress held in Rotterdam, Netherlands
- 26th edition of World Energy Congress held in Rotterdam, Netherlands.This year’s edition of the four-day event, held in the Dutch city of Rotterdam under the slogan “Redesigning Energy for People and Planet”, brought together 70 ministers from 150 countries as well as a broad spectrum of international energy stakeholders.
- Co-hosted by the World Energy Council and the Netherlands Ministry of Economic Affairs and Climate Policy, the congress convened more than 7,000 international energy stakeholders, including 200 C-suite speakers and 70 ministers, to enable the highest levels of government-to-government dialogue that can drive the global energy transition agenda.
- Chairperson & Managing Director of Indian Renewable Energy Development Agency Ltd. (IREDA) Pradip Kumar Das participated in a panel discussion on “The New Interdependencies: Trust, Security and Climate Resilience”, at the 26th edition of World Energy Congress.
- India proposed allocating 4%-5% of domestic pension/insurance funds‘ Assets Under Management (AUM) into renewable energy bonds to boost bond market depth and attract more global and local investments.India aims for 500 GW (Giga Watt) non-fossil fuel energy capacity by 2030 and Net Zero emissions by 2070.
ADB charts course for sustainable growth with strategy 2030
- The Asian Development Bank (ADB) reaffirmed its commitment to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific during its participation at the 26th edition of the World Energy Congress.
- According to ADB, under its Strategy 2030, ADB continues to sustain efforts to address the changing needs of the region through innovative initiatives and strategic reforms.
Iraq passes harsh anti-LGBTQ+ law imposing up to 15 years in prison, drawing backlash
- In a move met with global condemnation, the Iraqi parliament quietly passed a law over the weekend that imposes severe penalties on gay and transgender poeple, sparking outrage from human rights groups and diplomatic circles.
- The law, which was slipped through as an amendment to existing anti-prostitution legislation, has drawn fierce criticism from various quarters.
- While homosexuality remains a taboo subject in Iraqi society, and periodic anti-LGBTQ+ campaigns have been launched by political leaders, the country had not previously implemented a law explicitly criminalizing such behavior.
- The newly passed legislation imposes harsh penalties, including sentences of 10 to 15 years for same-sex relations and one to three years for individuals undergoing or performing gender transition surgeries, as well as for the “intentional practice of effeminacy.”
India’s population estimated at 144 crore, 24% in 0-14 age bracket: UNFPA report
- India’s population is estimated to have reached 144 crore, with 24 per cent in the 0-14 age bracket, according to a recent report by the UNFPA.
- The United Nations Population Fund’s (UNFPA) State of World Population – 2024 report “Interwoven Lives, Threads of Hope: Ending Inequalities in Sexual and Reproductive Health and Rights”, revealed that India’s population is estimated to double in 77 years.
- India leads globally with an estimated population of 144.17 crore, followed by China at 142.5 crore, according to the report. India’s population was recorded at 121 crore during the last census, conducted in 2011.
- The report further detailed that an estimated 24 per cent of India’s population is aged 0-14 while 17 per cent is within the 10-19 age range. The segment aged 10-24 is estimated to constitute 26 per cent, with the 15-64 age group making up 68 per cent. Additionally, 7 per cent of India’s population is aged 65 years and above, with men having a life expectancy of 71 years and women 74 years.
- According to the report, the child marriage percentage in India was at 23 between 2006-2023. The report noted that maternal deaths in India have fallen considerably, accounting for 8 per cent of all such fatalities worldwide.
BANKING & FINANCE
RBI issues draft framework for electronic trading platforms
- The Reserve Bank of India(RBI) proposed a revised regulatory framework for Electronic Trading Platforms (ETPs) in the wake of increased integration of the onshore forex market with offshore markets. Market makers too have been requesting the Reserve Bank to allow access to offshore ETPs offering Indian Rupee (INR) products.
- The ‘Draft Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2024’ said that an entity seeking authorisation as an ETP operator should maintain a minimum net-worth of Rs 5 crore and continue to maintain the minimum net-worth prescribed all times.
- Also, the entity should be a company incorporated in India. Further, shareholding by non-residents, if any, in the entity seeking authorisation as an ETP operator should conform to all applicable laws and regulations, including the Foreign Exchange Management Act, 1999.
- The entity will also have to maintain robust technology infrastructure with a high degree of reliability, availability, scalability and security in respect of its systems, data and network, appropriate to support its operations and manage the associated risks, the draft said.
Govt teams up with SBI Cards, telcos to combat OTP frauds
- India’s home ministry, SBI Cards and Payment Services Ltd (SBI Card) and telecom operators have partnered to develop an innovative solution for alerting about stolen one-time passwords as part of a broader effort to combat the growing threat of cyber fraud and phishing attacks on the banking ecosystem.
- The Centre is testing a solution that will allow banks to track the registered address as well as geolocation of a customer and where an OTP is getting delivered. In case of any discrepancy between the two locations, the customer can be alerted of a possible phishing attacks.
- The collaboration with telecom operators is crucial in locating customers’ devices and SIM cards during OTP delivery. By analyzing discrepancies between the customer’s actual location and the OTP delivery location, potential fraudulent activities can be flagged, such as OTPs being routed to unfamiliar locations.
RBI directs all lenders to review their lending practices
- The Reserve Bank of India has directed all lenders to review their practices regarding mode of disbursal of loans, application of interest and other charges and take corrective action, including system level changes, as may be necessary, to ensure fairness and transparency while dealing with customers.
- The Reserve Bank of India said it “came across instances of lenders resorting to certain unfair practices in charging of interest”, referring to malpractices regarding duration for calculating interest and quantum of repayment installments, among others.
- The circular also encouraged REs to opt for online account transfers instead of issuing cheques in certain cases for loan disbursement. The circular takes effect immediately, the central bank added.
BUSINESS & ECONOMY
India emerges global e-commerce powerhouse, projected to surpass USD 800 bn digital economy by 2030
- India’s e-commerce industry is poised for a massive upheaval, with revenues expected to reach $325 billion by 2030. This growth aligns with projections that India’s digital economy will get an incredible $800 billion during the same timeframe.
- According to Invest India, with 881 million users, India has the 2nd largest Internet user-base globally, and set to become the 3rd largest online retail market by 2030.
- Currently, India’s e-commerce sector stands at a market size of USD 70 billion, constituting around 7 per cent of the total retail market in the country.
- The internet penetration has witnessed significant growth, with 52 per cent of the Indian population, approximately 759 million people, accessing the internet in 2022.
GDP growth may cross 7% this year: NCAER
- India’s GDP growth could surpass the central bank’s 7% estimate for 2024-25, the National Council for Applied Economic Research (NCAER) said , citing the forecast of an above-normal monsoon this year as well as upgraded hopes for global growth and trade volumes.
- Projected acceleration in both global growth and trade volumes, as well as the forecast of an above-normal monsoon, indicate that the Indian economy can again attain growth rates higher than 7% during the current fiscal year said NCAER director general.
- The NCAER’s April review found that the economy carried forward the momentum seen in February and March. A range of high-frequency indicators reveal the resilience. With Purchasing Managers’ Index (PMI) for manufacturing at a 16-year high and UPI (Unified Payments Interface) touching highest volume since its inception in 2016.
China’s share in India’s industrial goods imports jump to 30% from 21% in last 15 years: GTRI
- With increasing India’s dependence on Chinese industrial goods like telecom, machinery and electronics, Beijing’s share in New Delhi’s imports of such goods rose to 30% from 21% in the last 15 years, a report said.
- According to the report by the economic think tank Global Trade Research Initiative (GTRI), the growing trade deficit with China is a cause of concern, and the strategic implications of this dependency are profound, affecting not only economic but also national security dimensions.
- From 2019 to 2024, India’s exports to China have stagnated at around USD 16 billion annually, while imports from China have surged from USD 70.3 billion in 2018-19 to over USD 101 billion in 2023-24, resulting in a cumulative trade deficit exceeding USD 387 billion over five years.
IREDA gets ‘Navratna’ status
- Indian Renewable Energy Development Agency (IREDA) said it was granted ‘Navratna’ status by the Department of Public Enterprises.
- A non-banking financial institution under the Ministry of New and Renewable Energy, IREDA is engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy.
- The Indian government grants Navratna status to premier public sector undertakings (PSUs), empowering them to execute significant investments of up to ₹1,000 crore without requiring approval from the central authority.
SPORTS
Kenya’s Wanyonyi sets road mile world record in Herzogenaurach
- Kenya’s Emmanuel Wanyonyi set a road mile world record at the Road to Records event in Herzogenaurach, Germany, finishing with a time of three minutes and 54.5 seconds.
- The 19-year-old broke the previous record of 3:56.13 set by American Hobbs Kessler in October. Kessler, who also ran in the event, finished second with a time of 3:56.1.
- Wanyonyi, who specialises in 800 metres, won silver at last year’s World Athletics Championships in Budapest, before winning gold at the 2023 Diamond League.
French athlete Bosse banned for a year, four months after retirement
- France’s former world 800m champion Pierre-Ambroise Bosse, who announced his retirement in December, was banned for a year by the French anti-doping agency after missing three drugs tests between September 2022-June 2023.
- Bosse announced his decision to retire because of recurrent injuries just seven months before the Paris Olympics.
- The 31-year-old failed to recover after undergoing surgery on his right thigh last year and had not competed since April 2023. He won bronze at the European championships in 2012 and 2018.
London Marathon 2024: Kenya’s Peres Jepchirchir breaks world record to win women’s race
- Reigning Olympic champion Peres Jepchirchir crushed the women’s-only world record in winning the 44th London Marathon, while Kenyan compatriot Alexander Mutiso Munyao raced to victory in the men’s race.
- The 30-year-old Jepchirchir pulled away over the final 300 metres in a sprint finish, crossing the finish line in front of Buckingham Palace in two hours 16 minutes 16 seconds to break Mary Keitany’s mark of 2:17:01 set in a women-only race at the 2017 London event.
- Munyao, 27, pumped his fist several times en route to the biggest victory of his career, pulling away from distance running great Kenenisa Bekele to cross in 2:04.01.
Leicester seals Championship crown with 3-0 win at Preston
- Leicester City cruised to the Championship title with a 3-0 victory at mid-table Preston North End.
- A goal in each half from Jamie Vardy plus one from Kasey McAteer in the 67th minute sealed the points for the Foxes, who had already secured promotion to the Premier League earlier this week, returning to the top tier after one season.
- Leicester have 97 points, seven ahead of Leeds United in second with both sides having one game left and third-placed Ipswich Town, who have two matches remaining.
Muralidharan Sinimol, Mansi Mohite emerge South Asian triathlon champions
- Indian athletes Adarsh Muralidharan Nair Sinimol (01:02:03) and Mansi Mohite (01:07.53) emerged as the men’s and women’s champions respectively in the South Asian Triathlon Championships in Pokhara, Nepal.
- Koushik Vinayak Malandkar (01:03:26) was second behind compatriot Sinimol in the regional championships, while Sai Lohitaksh Kd (01:07:20) and Krishiv Patel (01:07:23) finished as the top two in the South Asian men’s junior category.
- Durvisha Pawar (01:11:55) and Prerana Sravan Kumar (01:14:57) were one and two in the South Asian women’s junior category.
Velavan Senthil Kumar Wins His Eighth Professional Squash Association Tour Title In Paris
- India’s Velavan Senthilkumar won his eighth Professional Squash Association (PSA) Tour title by winning the Batch Open, a PSA Challenger event, at the Societe Sportive du Jeu de Paume in Paris.
- World No. 58 Senthilkumar, the top seed, beat Frenchman Melvil Scianimanico 11-6, 11-9, 11-6 to clinch the title. The final was held as part of the 12,000 dollars PSA Challenger Tour event.
APPOINTMENTS
IAS officer Suhas LY bags silver in Spanish Para Badminton International
- IAS officer Suhas Lalinakere Yathiraj won silver medal in Spanish Para Badminton International in Toledo, Spain.
- Yathiraj, a Paralympic silver medallist, lost to Frenchman Lucas Mazur 18-21, 6-21 in the men’s singles SL4 final.
- Meanwhile, Nitesh Kumar clinched the men’s singles title on SL 3 category after beating Olelsansr Chrykov 21-11, 21-13 in the final.
Pakistan appoint World Cup-winning coach for white-ball team
- Gary Kirsten, the head coach of the Indian team that won the ICC Men’s Cricket World Cup in 2011, will assume the role of white-ball head coach of Pakistan heading into the upcoming T20 World Cup, the PCB announced in their press conference.
- Former Australian fast bowler Jason Gillespie has been roped in as the head coach for Tests.Gillespie’s tenure will commence with Pakistan’s home Test against Bangladesh in August, which will be a part of the ongoing World Test Championship cycle, followed by the Test series at home against England and away against South Africa.
- Azhar Mahmood, who recently acted as the head coach during the T20I series against New Zealand, will continue to be a part of the setup as an all-format assistant coach.
IRS Sunil Kumar Yadav appointed Director of MoHUA
- The Ministry of Housing & Urban Affairs (MoHUA) has welcomed a new addition to its leadership team. Sunil Kumar Yadav, an officer from the Indian Revenue Service (IRS), has been appointed as the Director of the Ministry of Housing & Urban Affairs.
- The appointment of Sunil Kumar Yadav was made under the Central Staffing Scheme, as per an order issued by the Department of Personnel & Training (DoPT). The order specifies that Yadav’s tenure as Director of MoHUA will be for a period of five years from the date of assuming charge or until further orders, whichever comes earlier.
- As the Director of MoHUA, Sunil Kumar Yadav will be responsible for overseeing various aspects of urban development, including housing, urban planning, infrastructure development, and smart city initiatives. His leadership will be instrumental in ensuring effective implementation of government programs and policies related to urban affairs.
AWARDS
Sharjah Teacher Gina Justus Wins Regional Cambridge Dedicated Teacher Award
- Gina Justus, an English High School teacher at the Sharjah Girls Branch in the United Arab Emirates (UAE), has been named the regional winner for the Middle East and North Africa (MENA) region at the prestigious 2024 Cambridge Dedicated Teacher Awards.
- Gina Justus is originally from Thiruvananthapuram, Kerala. Gina Justus has been working in the UAE since 2005. Gina Justus was recognized for her excellent mentorship and dedication to charity.
- This year’s competition saw a record-breaking number of nominations, with more than 14,840 submissions from 141 countries.
- Justus has been named Regional Winner in the Middle East and North Africa (MENA) for his outstanding mentorship and commitment to charity. The jury praised Justus’s commitment to his department. For this, she regularly organizes and conducts workshops to raise the teaching standards.
SCIENCE & TECHNOLOGY
Iran unveils drone resembling Russian ‘Lancet’
- The Iranian Islamic Revolutionary Guard Corps (IRGC) has introduced a new kamikaze drone(suicide drone) resembling Russia’s Lancet drone. This drone, yet to be named publicly, is designed for targeted attacks, akin to those witnessed in the Ukraine conflict.
- The Iranian drone, akin to the Lancet, boasts flight durations of 30 to 60 minutes and can carry payloads ranging from 3 to 6 kg, covering distances of up to 40 km. Equipped with electro-optical systems and a built-in warhead, it’s optimized for combating ambushes.
- During the recent Great Prophet 18 military exercise, the IRGC significantly invested in suicide drone capabilities, equipping its units with models like “Shahed 131” and “Shahed-136.”
6th LSAM 20 ammunition cum torpedo cum missile barge launched
- The launch of ‘Ammunition Cum Torpedo Cum Missile Barge, LSAM 20 (Yard 130)’, 6th Barge of 11 x ACTCM Barge Project, built by MSME Shipyard, M/s Suryadipta Projects Pvt Ltd, Thane for Indian Navy, was undertaken at M/s Suryadipta Project Pvt. Ltd. (launch site of M/s SPPL). The launching Ceremony was presided over by Shri Madhusudan Bhui, INAS, GM NAD (Karanja).
- The contract for building 11 x ACTCM Barge was signed between MoD and M/s Suryadipta Projects Pvt Ltd, Thane on 05 Mar 21. The availability of these Barges would provide impetus to operational commitments of IN by facilitating Transportation, Embarkation and Disembarkation of articles/ ammunition to IN Ships both alongside jetties and at outer harbours.
- These Barges are indigenously designed and built under relevant Naval Rules and Regulation of Indian Register of Shipping. The model testing of the Barge during the design stage was undertaken at the Naval Science and Technological Laboratory, Visakhapatnam. These Barges are proud flag bearers of Make in India initiative of Government of India (GoI).
BOOKS & AUTHORS
“The Winner’s Mindset,” book by Shane Watson
- The book titled “The Winner’s Mindset,” written by an Australian cricket coach Shane Watson has been released recently.
- In his book, “The Winner’s Mindset,” Watson shares the insights and strategies that enabled him to conquer his fears and reach new heights in his cricketing career. While the book is not an autobiography in the traditional sense, it serves as a powerful self-help guide, offering readers a glimpse into the mindset that propels individuals to success.