Daily Current Affairs 6th April, 2024
Daily Current Affairs 6 April 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
Government Approval of Onion Export to Friendly Countries
- The government of India has allowed the export of onions to friendly countries such as Bangladesh, the United Arab Emirates, Bahrain, Mauritius, and Bhutan.
- The government, which banned the export of onions in December 2023, has accepted the request of these friendly countries for Indian onions. India was the largest exporter of onion in the world in 2022-23.
- India has agreed to allow the export of 50,000 tonnes of onion to Bangladesh, 550 tonnes to Bhutan, 3,000 tonnes to Bahrain, 1,200 tonnes to Mauritius and 14,400 tonnes to the United Arab Emirates.
India to stop importing urea by end of 2025, says Mansukh Mandaviya
- India will by the end of 2025 stop importing urea as a massive push for domestic manufacturing has helped bridge the gap between supply and demand, Chemicals and Fertilisers Minister Mansukh Mandaviya has said.
- He said the country has been using chemical fertilisers for the last 60-65 years to enhance crop production. The minister noted that the availability of fertilisers is very important for Indian agriculture.
- Mandaviya said the installed domestic production capacities have been increased to around 31 million tonne from 22.5 million tonne in 2014-15. At present, the gap between annual domestic production and demand is around 4 million tonne.
Manohar International Airport in Goa Launches Digi Yatra System
- Manohar International Airport has rolled out the biometric-enabled DigiYatra system for air travellers in Goa. The system uses facial recognition for the boarding process, eliminating the need for physical documents like ID proof, which were checked manually by the security personnel.
- This makes the boarding process significantly faster and seamless as each passenger needs less than 3 seconds at every touchpoint, said the authorities.
- This technology is also integrated with the Airlines Departure Control System, so only authenticated passengers are allowed to enter the terminal.
INTERNATIONAL NEWS
UAE’s Masdar to Host World Future Energy Summit
- Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, is gearing up to host the World Future Energy Summit (WFES).
- Taking place from April 16 to 18 at the Abu Dhabi National Exhibition Centre (ADNEC), WFES is the world’s leading business event for future energy, clean technology and sustainability, with a packed programme of events, activations, discussions and forums.
- The Masdar Pavilion at WFES will act as a hub for innovation, collaboration and knowledge sharing, with its theatre featuring an engaging programme of panels and presentations, including forums by Masdar’s global strategic initiatives, Y4S (Youth 4 Sustainability) and WiSER (Women in Sustainability, Environment and Renewable Energy).
Zimbabwe Declares State of Disaster Over Devastating Drought
- Zimbabwe declared a state of disaster over a devastating drought that’s sweeping across much of southern Africa, with the country’s president saying it needs $2 billion for humanitarian assistance.
- The declaration was widely expected following similar actions by neighboring Zambia and Malawi, where drought linked to the El Nino weather phenomenon has scorched crops, leaving millions of people in need of food assistance.
Global life expectancy up 6.2 years since 1990: Study
- On average, people across the world are living more than six years longer in 2021 than what they did in 1990, according to a new study published in The Lancet, which also showed that life expectancy in India has increased by nearly eight years in the past three decades.
- This progress, the report said, is attributed to reductions in death from leading killers such as diarrhoea, lower respiratory infections, stroke, and ischemic heart disease (heart attacks caused by narrowed arteries).
- The paper, however, added the gains would have been far more significant had it not been for the arrival of the Covid-19 pandemic in 2020, which heavily derailed the progress.
Singapore, Denmark and U.S. are the Best Places in the world to Conduct Business: EIU’ BER 2024
- Greece, Qatar and India have improved the most globally in providing the best environment to businesses in the past one year, according to a report by Economist Intelligence Unit (EIU).
- India came third on the list of most improved countries as a result of its youthful demographic, which promises strong demand and availability of good labour, the report said.
- The EIU said it expects strong economic growth between 2024 and 2028 with more foreign direct investments coming into India as companies look for manufacturing destinations other than China.
India to lose 5.8% of daily working hours amid heat stress in 2030 as UNESCAP report
- India is expected to lose around 5.8 per cent of daily working hours due to rising temperatures by 2030, leading to erosion in productivity and lower collection of fiscal revenue, said a recent report released by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).
- The problem is most severe for outdoor workers, particularly those employed in agriculture and construction, but also relevant for indoor factory workers. With falling labour productivity and economic output, rising temperatures are expected to result in the collection of lower fiscal revenues,” states the report titled ‘Economic and Social Survey of Asia and the Pacific 2024’.
- The report also mentions that climate change will contribute to the spread of disease, leading to lower government revenues and higher spending requirements as fiscal expenditure is required for mitigating such adverse effects and building resilience.
- Besides, the report also mentions that climate change may lead to larger agricultural subsidies as farm subsidies constitute about one fifth of aggregate farm incomes in India.
UNDP Report on Small Island Digital States Highlights Digital Transformation for Small Island Developing States
- Small Island Developing States (SIDS) are increasingly becoming Small Island Digital States. Digital is positively impacting lives and livelihoods across SIDS – improving the reach and effectiveness of government and public service delivery, providing exciting new opportunities for citizen engagement and empowerment; and shaping new products, sectors, and opportunities.
- This major publication serves as a roadmap for SIDS’ policymakers, decision-makers, and innovators. It advocates for an inclusive digital transformation that benefits all parts of society. From Tuvalu’s venture into the metaverse, to the recent launch of National Digital Strategies by Suriname, Niue, and the Cook Islands; and the open-source digital health leadership of Mauritius. SIDS are going digital.
- Small Island Digital States is grounded on extensive Digital Readiness Assessments conducted by UNDP in collaboration with over 15 SIDS governments around the world. It also draws on digital products and services, initiatives, and innovations being shaped and delivered by UNDP Country Offices across the global SIDS community.
BANKING & FINANCE
RBI Imposes Penalties on IDFC First Bank and LIC Housing Finance for non-compliance
- The Reserve Bank has imposed a penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for violation of certain norms regarding loans.
- In a statement, the RBI said the penalty on IDFC First Bank has been imposed for non-compliance with certain directions on ‘Loans and Advances – Statutory and Other Restrictions’.
- On the other hand, LIC Housing Finance was fined for breach of norms. The RBI said the housing finance company did not comply with certain provisions of the Fair Practices Code when it did not disclose the rate of interest and approach for gradation of risk and rationale for charging different rate of interest to different categories of borrowers in loan application forms and sanction letters.
RBI Projects CPI Inflation at 4.5% for FY25
- The Reserve Bank of India (RBI) projected CPI inflation for year 2024–25 (FY25) is 4.5%, with Q1 at 4.9%, Q2 at 3.8%, Q3 at 4.6%, and Q4 at 4.5%.The RBI governor declared that the risks are evenly distributed.
- According to Shaktikanta Das, CPI inflation is predicted to drop to 3.8% by Q2FY25 before rising once more to around 4.5% by the end of the fiscal year.
- Das pointed out that inflation has come down significantly but remains above the 4% target. Food inflation continues to exhibit considerable volatility, which is impeding the ongoing disinflation process.
J&K Bank Introduces Virtual ATM Facility in Collaboration with Paymart India
- J&K Bank has announced a partnership with Paymart India Pvt Ltd to introduce an innovative Virtual ATM (VATM) service, aimed at enhancing banking convenience for customers in J&K and Ladakh.
- Through this collaboration, card-less cash withdrawal will be facilitated for customers via local merchants.
- In this setup, customers utilize the bank’s mobile app on their smartphones as a Virtual Card, while the merchant’s smartphone acts as the Virtual ATM. When initiating a cash withdrawal, customers will receive an OTP for verification, which they can share with the merchant.
RBI Postpones Implementation of New Rules for Exchange-Traded Forex Derivatives
- The Reserve Bank of India delayed the implementation of its consolidated directions for exchange-traded currency derivatives (ETCD) by a month, a move that should ease the panic seen in the market this week.
- The Indian rupee’s exchange-traded options went into a tizzy after brokers asked clients to submit proof of underlying exposure on their derivative contracts or unwind their existing positions, market participants said.
- In view of feedback received and recent developments, it has been decided that these directions will now come into effect May 03, 2024, RBI said.
BUSINESS & ECONOMY
NTPC Shuts 220 MW Barauni Thermal Power Station Stage-I Project in Bihar
- State-owned power giant NTPC has closed down its Barauni Thermal Power Station Stage-I of 220 MW permanently.
- Operation of NTPC Barauni Thermal Power Station Stage-I (2×110 MW) comprising of two Units (Unit 6 & 7) of 110 MW each (along with all Auxiliary systems except CHP, Switchyard, Ash Dyke and Township) shall be permanently discontinued w.e.f. 31st March 2024.
- NTPC is India’s largest power utility with a total installed capacity of 75,418 MW (including JVs), according to its official website.
SPORTS
Bindyarani Devi Wins Bronze, Mirabai Chanu Qualifies for Paris Olympics 2024 at IWF World Cup
- Bindyarani Devi, the Birmingham Commonwealth Games 2022 silver medallist, won a bronze medal at the IWF World Cup 2024, held in Phuket, Thailand.
- However, the Tokyo Olympics silver medalist Mirabai Chanu finished 12th in the 49 kg weightlifting category. Bindyarani Devi and Mirabai Chanu were the only two Indians who were competing in the IWF World Cup 2024.
- Indian weightlifter Mirabi Chanu qualified for the Paris Summer Olympics 2024 despite finishing 12th in the 49 kg category. She is the only Indian weightlifter to qualify for the Paris Olympics.
- The IWF World Cup 2024 is being organised by the International Weightlift.ing Federation (IWF) from 31st March to 11 April 2024 in Phuket, Thailand. Both men and women weightlifters are participating in the World Cup.
APPOINTMENTS
Delhi High Court Appoints Retired Justice Najmi Waziri As Chairman Of Committee For Protection Of Deemed Forests
- The Delhi High Court has appointed its former judge, Justice Najmi Waziri, as the Chairman of the Internal Departmental Committee constituted for protection and management of deemed forests in the national capital.
- Justice Tushar Rao Gedela requested the Delhi Government to ensure that all facilities and secretarial assistance, as required by Justice Waziri, is provided to him at the earliest.
- This court expects cooperation from the heads of various governmental departments with the Committee, which has been granted the liberty to submit regular reports to the court regarding its progress.
Meenesh Shah Elected as Chairman of NCDFI
- The National Cooperative Dairy Federation of India Ltd. (NCDFI), in its Board elections held, unanimously elected Dr. Meenesh Shah as the Chairman.
- The election was conducted by Praveen Chaudhary, IAS, District Collector of Anand who served as the Returning Officer. Prior to this, NCDFI in its General Body meeting held on April 04, 2024 elected eight directors on the Board unopposed.
The newly elected directors include:
- Dr. Meenesh Shah, Jharkhand Milk Federation
- Dr. Mangal Jit Rai, Sikkim Milk Union
- Shamalbhai B. Patel, Gujarat Milk Federation
- Randhir Singh, Haryana Milk Federation
- K. S. Mani, Kerala Milk Federation
- Balachandra L. Jarakiholi, Karnataka Milk Federation
- Narinder Singh Shergill, Punjab Milk Federation
- Sameer Kumar Parida, West Assam Milk Union
Astrid Schomaker of Germany Appointed as Executive Secretary of CBD
- The UN has appointed German environmental diplomat Astrid Schomaker as the next executive secretary of the Convention on Biological Diversity (CBD), ahead of the crucial COP16 biodiversity summit due to be held in Colombia later this year.
- Schomaker will take over from David Cooper, who has held the role since Feb. 2023, and will be tasked with overseeing progress towards the implementation of the 2022 Kunming-Montreal Global Biodiversity Framework (GBF) agreement.
AWARDS
Goenka among Seven Indians Named in ‘Young Global Leaders Community: The Class 2024’ by WEF
- Shashwat Goenka, Vice Chairman of Kolkata-based RP Sanjiv Goenka group, was among the four Indians selected from the corporate sector in the World Economic Forum’s latest list of ‘Young Global Leaders’.
- The WEF announced the addition of 90 change-makers to its Young Global Leaders Community, all under 40 years old and representing diverse sectors of society.
- Apart from Goenka, Priya Agarwal Hebbar, Non-Executive Director at Vedanta; Richa Bajpai, Founder and CEO of Campus Fund; Arjun Bhartia, Joint Managing Director at Jubilant Group; Adwaita Nayar, Chief Executive Officer, FSN E-Commerce Ventures (NYKAA); Sharad Vivek Sagar, Founder and Chief Executive Officer at Dexterity Global, India; and Actress Bhumi Pednekar are among the Indians who have joined the WEF’s Forum of Young Global Leaders.
SJVN Awarded for Outstanding Corporate Social Responsibility
- SJVN Limited was awarded the 15th CIDC Vishwakarma Award 2024 for Corporate Social Responsibility (CSR) Contribution. SJVN has received two prestigious awards at the CIDC Vishwakarma Awards 2024 instituted by the Construction Industry Development Council.
- SJVN has been awarded the ‘Achievement Award for Social Development and Creating Impact’ and ‘CIDC Partners in Progress Trophy’.
- These awards demonstrate SJVN’s commitment to driving positive change through innovative and concrete CSR initiatives. SJVN Limited has spent more than Rs 450 crore on various CSR activities.
SCIENCE & TECHNOLOGY
IAF Receives First Indigenous Crash Fire Tender
- In a major boost for India’s MSME sector, the Indian Air Force (IAF) has recently received the delivery of the first indigenously designed and developed Crash Fire Tender (CFT).
- This significant procurement comes as part of a contract worth Rs 291 crore awarded to a Noida-based MSME firm, highlighting the IAF’s commitment to supporting domestic manufacturing and production entities.
- This remarkable achievement was accomplished despite the multiple disruptions in global supply chains caused by the ongoing pandemic and other global challenges.
Army begins induction of Akashteer system to sharpen air defence posture
- The Indian Army has begun the induction of the indigenous Akashteer system to boost its air defence capabilities, officials aware of the matter said. The automated air defence control and reporting system will allow the army’s air defence units to operate in an integrated manner.
- The development came almost a year after the defence ministry signed a ₹1,982-crore contract with Bharat Electronics Limited (BEL) to sharpen the army’s air defence capabilities with the new system.
- It will enable the army to monitor low-level airspace over battle areas and effectively control the ground-based air defence weapon systems.
- It will enhance the operational efficiency and integration of the army’s air defence mechanisms by digitising the entire process.
ENVIRONMENT
Excavation Unearths 5,200-Year-Old Harappan Settlement in Kachchh, Gujarat
- Recently, archaeologists from Kerala University in collaboration with various institutions uncovered new insights into the Early Harappan civilization at Padta Bet, Gujarat.
- The excavation, conducted last month, revealed a 5,200-year-old Harappan settlement nestled on the slopes of a small hillock known locally as Padta Bet. The team of archaeologists unearthed the settlement near Khatiya village, Gujarat, showcasing cultural evolution.
- The archaeological findings at Padta Bet included remnants of circular and rectangular structures constructed from locally available sandstone and shales. These structures, along with pottery shards, artefacts, and animal bone fragments, offer valuable insights into the cultural evolution of the region spanning from the Early Harappan to Late Harappan periods, circa 3200 BCE to 1700 BCE.