Current Affairs 23rd April 2024
Stay informed with all the breaking news and important developments around the world! This blog post brings you your daily dose of Current Affairs for April 23rd 2024. Dive deep into the stories that are shaping our world, from politics and business to science and technology.
NATIONAL AFFAIRS
1) Indian Navy conducts mega navy exercise “Poorvi Lehar” on East Coast
On April 20, 2024, the Indian Navy conducted Exercise Poorvi Lehar (XPOL) 2024 on the East Coast. XPOL intends to validate processes and assess the Indian Navy’s capability to tackle regional maritime security concerns.
Vice Admiral Rajesh Pendharkar, Flag officer-Commanding-in-Chief (FOC-in-C), Eastern Naval Command (ENC), located in Vishakapatnam, Andhra Pradesh, oversaw the operations.
About Exercise Poorvi Lehar (XPOL) 2024:
The exercise was carried out in numerous phases, which included:
- The tactical phase involves combat training in actual settings.
- Weapon Phase: Successful completion of several firings.
- Ships, submarines, aircraft, and special forces all actively participated.
- It also included assets from the Indian Air Force (IAF), Andaman and Nicobar Command, Eastern Naval Command, and the Coast Guard.
- This shows a high level of interoperability among the Services.
- An essential aspect of the exercise was the operating of aircraft from multiple sites, guaranteeing near-constant Maritime Domain Awareness across the area of operations.
Note:
- The Government of India (GoI) just named Dinesh Kumar Tripathi as the 26th Chief of Naval Staff. He will take command on April 30th.
- Indian Navy Day is held yearly on December 4th.
About Indian Navy:
- Chief of Naval Staff: Radhakrishnan Hari Kumar (25th ) (Till 29 April 2024)
- Headquarter: New Delhi, Delhi
- Founded: 1950
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2) PM Modi Inaugurated 2550th Bhagwan Mahaveer Nirvan Mahotsav on Mahaveer Jayanti
On April 21, 2024, on Mahavir Jayanti, India’s Prime Minister (PM) Narendra Modi launched the 2550th Bhagwan Mahaveer Nirvan Mahotsav at Bharat Mandapam in New Delhi, Delhi.
PM Modi has issued a commemorative stamp and coin for the 2550th Bhagwan Mahaveer Nirvan Mahotsav.
Key People: Union Minister of State (MoS) Arjun Ram Meghwal of the Ministry of Culture attended the occasion, as did other Jain leaders and saints.
About the 2550th Bhagwan Mahaveer Nirvan Mahotsav:
- The Janma Kalyanak of Bhagwan Mahavir Swami takes place on April 21, 2024.
The Government of India honored the occasion with the Jain community by hosting a cultural event at Bharat Mandapam. - The 2550th Bhagwan Mahaveer Nirvan Mahotsav is being observed as an annual “Ahimsa Mahotsav”.
- The Bhagwan Mahaveer Nirvan Mahotsav Committee is founded to organize and promote the event, with an emphasis on disseminating Bhagwan Mahaveer’s teachings, notably those of nonviolence and kindness.
Mahavir Jayanti :
- Mahavir Jayanti celebrates Mahavir’s birth as ‘Vardhamana’ in a royal household around 615 BC.
- Bhagwan Mahavir, the 24th Tirthankar, promoted the Jain values of Ahimsa (nonviolence), Satya (truthfulness), Asteya (nonstealing), Brahmacharya (chastity), and Aparigraha.
- Jains celebrate five important events for each Tirthankar: Chyavana/Garbha (Conception) Kalyanak, Janma (Birth) Kalyanak, Diksha (Renunciation) Kalyanak, Kevaljnana (Omniscience) Kalyanak, and Nirvana (Liberation/Ultimate Salvation) Kalyanak.
About the commemorative coin:
This is the eighth commemorative coin for the year 2024. The Non Circulating type currency is manufactured at India Government Mint in Hyderabad, Telangana.
Features:
- The coin with the value Rs 100 weighs 35 kilos.
- The back of the coin has the picture of the Nalanda Pawapuri Jal Mandir and “Bhagwan Mahaveer 2550th Nirvan Kalyanak” in both Devanagari script and English, with the year 2023 at the bottom.
Click here to read from source
INTERNATIONAL AFFAIRS
3) Global Military Expenditure recorded All-Time High of USD 2443bn in 2023, US Tops & India 4th: SIPRI Report
On April 22, 2024, the Stockholm International Peace Research Institute (SIPRI) published its paper titled ‘Trends in World Military Expenditure, 2023’. According to the analysis, overall worldwide military expenditure climbed for the ninth consecutive year to an all-time high of USD 2443 billion in 2023, representing a 6.8% rise in real terms over 2022. This is the most dramatic year-over-year rise since 2009.
- The top five military spenders in 2023 are the United States of America (USA) (first), China (second), Russia (third), India (fourth), and Saudi Arabia (fifth), accounting for 61% of global military spending.
- In 2023, India’s military spending was USD 83.6 billion, making it the world’s fourth greatest spender. India’s military budget has risen by 4.2% from 2022 and 44% since 2014.
- In 2023, North Atlantic Treaty Organization (NATO) countries, including the United States, spent a combined USD 1341 billion. This accounts for around 55% of worldwide military budget.
About SIPRI (Stockholm International Peace Research Institute):
It is an independent international center that conducts research on conflict, weaponry, arms control, and disarmament.
- Chair of the SIPRI Governing Board – Stefan Löfven
- Director– Dan Smith
- Headquarters – Solna, Sweden
- Establishment – 1966
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BANKING & FINANCE
4) S&P Global: 3 Indian Banks Among Top 50 lenders in Asia-Pacific by Assets
The S&P Global Market Intelligence has issued a list of the top 50 largest banks in the Asia-Pacific Region by Assets – 2024, which includes three Indian banks: State Bank of India (SBI), HDFC Bank, and ICICI Bank.
In 2023, China’s Industrial and Commercial Bank of China Limited remained the largest bank in Asia Pacific and the world.
Points to note:
- SBI, India’s largest Public Sector Bank (PSB), has risen to 20th in 2023 from 21st in 2022. SBI’s assets are valued at USD 780.05 billion in 2023.
- HDFC Bank’s valuation climbed to USD 464.34 billion in 2023, more than 51% greater than it was in 2022. HDFC Bank has risen from 46th in 2022 to 33rd in 2023.
- ICICI Bank, India’s second largest private sector bank, has made its debut in the top 50 Asia-Pacific lenders list for 2023. It is now ranked 48th.
About S&P Global Inc.:
- President and Chief Executive Officer(CEO): Douglas L. Peterson
- Headquarters: New York, U.S.A
- Established: 1917
Click here to read from source
5) 10 Multilateral Development Banks (MDBs) Launched new “Global Collaborative Co-Financing” Platform
On the margins of the 2024 International Monetary Fund (IMF) and World Bank Spring meetings in Washington, D.C. (U.S.A.) on April 20, 2024, ten Multilateral Development Banks (MDBs) jointly unveiled the Global Collaborative Co-financing platform.
This digital effort seeks to change the development financing sector.
About Global Collaborative Co-Financing Platform:
Global Collaborative Co-Financing Platform has two components:
- Co-Financing Portal: This will be a secure portal where registered co-financiers may exchange their project pipelines. The site will be hosted by the World Bank.
- Co-Financing Forum: It will serve as a forum for diverse participants to explore co-financing prospects, share best practices, and address common concerns.
Significance:
- The new digital platform will assist to reduce administrative workload and transaction expenses.
- The platform encourages collaboration and openness, allowing MDBs and partner agencies to solve global concerns more effectively and efficiently.
List of Multilateral Development Banks(MDBs) Joined for new Co-financing Platform:
At the outset, ten MDBs joined the platform to improve cooperation, shorten co-financing processes, and provide a centralized platform for project information.
The ten MDBs are as follows: Asian Infrastructure Investment Bank (AIIB), World Bank Group (WBG), African Development Bank (AfDB), Asian Development Bank (ADB), Council of Europe Development Bank (CEB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Islamic Development Bank (IsDB), and New Development Bank (NDB).
The MDB outlines joint action in critical areas:
(i) Scaling Up MDB financing capacity:
- MDB executives expect to create extra financing of USD300-400 billion over the next ten years.
- To provide shareholders and development partners with a diverse range of new financial tools, including hybrid capital and market risk transfer instruments. They will also help to promote the channeling of IMF Special Drawing Rights (SDRs) through MDBs
(ii) Promoting joint action on climate change:
- The plan outlines initiatives to address climate change, including developing a consistent framework to measuring adaptation and mitigation efforts.
- To align operations with the Paris Agreement’s aims and to cooperatively report on climate funding.
- To assist and improve natural catastrophe early warning systems.
(iii) Fostering Country-level collaboration and Co-financing:
MDBs are discussing and supporting country-owned and country-led platforms to make it easier for countries to collaborate with banks. The efforts include accelerating co-financing for public sector projects through a collaborative platform.
(iv) Catalyzing Private Sector Mobilization:
- MDBs have pledged to increasing private-sector finance for development goals, including via the use of innovative methodologies and financial mechanisms.
- The efforts include increasing local-currency loans and implementing foreign-exchange hedging to stimulate private investment.
- To broaden the scope and disaggregation of the statistics released by MDBs and Development Finance Institutions (DFIs) through the Global Emerging Markets Risk Database (GEMs) consortium, allowing investors to better analyze investment risks and possibilities.
(v) Improving Development Effectiveness and Impact:
MDBs decided to prioritize the effect of their activities. It encompasses a variety of acts, such as:
- To foster collaboration on joint impact evaluations, such as exchanging methodologies for monitoring and assessing impact.
- To utilize multiple Key Performance Indicators (KPIs) on nature and biodiversity to investigate the potential of aligning some indicators ahead of the Conference of Parties (CoP)30 in 2025.
Click here to read from source
ECONOMY & BUSINESS
6) NGEL & ITL signed MoU to develop Renewable Energy Projects
NTPC Green Energy Limited (NGEL) and Indus Towers Limited (ITL) have signed a Memorandum of Understanding (MoU) to meet the need for pacing green energy goals and the Indian government’s attempts to achieve a carbon-neutral economy.
This partnership would focus on the joint development of grid-connected renewable energy-based power projects such as solar, wind, and energy storage, as well as associated solutions.
The MoU was signed by Soumya Kanti Chowdhuri, NGEL’s Chief General Manager, and Vikas Poddar, ITL’s Chief Financial Officer (CFO).
NGEL is a completely owned subsidiary of NTPC Limited (formerly known as National Thermal Power Corporation).
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7) CSIR-IICT & BHEL Partnered to Advance Clean Fuel Technology; MoU Signed to Convert CO2 to DME (Current Affairs 23rd April 2024)
The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate Research and Development (R&D) have signed a Memorandum of Understanding (MoU) to develop technology for capturing and converting carbon dioxide (CO2) to dimethyl ether (DME) via direct catalytic conversion.
This collaboration is part of the Department of Science and Technology’s (DST) Carbon Capture and Utilization (CCU) effort, which aims to use new technology to reduce carbon emissions and promote sustainable energy practices.
The research, funded by the DST, focuses on using collected CO2 to make DME, a clean fuel that can be blended with Liquefied Petroleum Gas.
Note:
- CSIR-IICT began in 1944 as the Central Laboratories for Scientific and Industrial Research (CLSIR). It is one of the oldest national laboratories under the CSIR.
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8) RVNL Signed MoU with TUMAS India Private Limited for Infrastructure Projects (Current Affairs 23rd April 2024)
Rail Vikas Nigam Limited (RVNL) has signed a Memorandum of Understanding (MoU) with M/s Turkish Engineering Consulting & Contracting – TUMAS India Private Limited to collaborate on public transport and infrastructure projects in India.
RVNL and the Turkish business want to work on railway infrastructure projects throughout India.
The cooperation aims to speed infrastructure construction, increase operating efficiency, and connect the Indian rail network.
Click here to read from source
Click here to read: Current Affairs 21st & 22nd April 2024
AWARDS & RECOGNITIONS
(Current Affairs 23rd April 2024)
9) Puravankara Ltd. won 15th CIDC Vishwakarma Awards 2024 for Social Development and Impact (Current Affairs 23rd April 2024)
Puravankara Limited, a well-known real estate developer in India, received the Achievement Award for Creating Social Development and Impact at the 15th edition of the Construction Industry Development Council’s (CIDC) Vishwakarma Awards (VKA) 2024.
The Award recognizes Puravankara’s efforts to drive good change via its effective programs, particularly the “Million Wells for Bengaluru” in conjunction with Biome Environmental Trust.
This effort demonstrates Puravankara’s commitment to environmental sustainability and community empowerment.
Points to Note:
- Biome Environmental Trust (Biome) promotes sustainable methods in design, water management, and land usage.
- CIDC was founded in 1996 by the Planning Commission (now the National Institution for Transforming India (NITI Aayog)) and the constituents of the Indian construction industry.
“Million Wells for Bengaluru” Campaign:
- This effort seeks to tackle water scarcity by revitalizing historic wells, encouraging rainwater gathering, and assisting the Manu Vaddar community.
- In 2022-2023, six open historic wells and a Kalyani were revitalized in the Hunsamaranahalli Town Municipal Council (TMC) borders of Yelahanka Taluk, Bengaluru.
About CIDC Vishwakarma Awards:
- The CIDC VKA recognizes organizations and people that contribute to national progress and sustainable development, notably in the area of Corporate Social Responsibility (CSR).
- The CIDC Vishwakarma Awards for 2008, the first edition of the honor, were awarded in 2009.
- The prizes are inspired by the spirit of creation and construction symbolized by Lord Vishwakarma, a god associated with Indian construction traditions.
- The awards, held annually in March by CIDC, recognize exceptional achievements in the Indian construction industry.
- The Award has 12 categories (including a Lifetime Achievement Award) and covers the complete range of the Indian construction industry.
About Puravankara Limited:
- Chairman– Ravi Puravankara
- Managing Director (MD)– Ashish Ravi Puravankara
- Headquarters– Bengaluru, Karnataka
- Founded in– 1975
Click here to read from source
SPORTS
(Current Affairs 23rd April 2024)
10) Gukesh Wins Candidates Tournament & Qualifies for World Chess Championship 2024 (Current Affairs 23rd April 2024)
Dommaraju Gukesh, a 17-year-old chess Grandmaster (GM) from Chennai (Tamil Nadu), won the International Chess Federation (FIDE) Candidates 2024 (Open category) in Toronto, Canada, defeating Hikaru Nakamura of the United States by 9 points.
He will now face Ding Liren of China in the World Chess Championship 2024.
Gukesh has therefore become the youngest challenger in history to qualify for the World Chess Championship, beating the previous record set by GM Garry Kasparov (Russia) in 1984, when he was 22.
Tan Zhongyi (China) has won the Candidates 2024 (Women’s category) and will compete in the 2024 Women’s World Chess Championship against her compatriot Ju Wenjun (China).
Click here to read from source
11) Red Bull’s Max Verstappen Wins Chinese Grand Prix 2024 (Current Affairs 23rd April 2024)
Red Bull’s Belgian-Dutch driver Max Verstappen won the Formula One (F1) Chinese Grand Prix (GP) 2024, which took place on April 21, 2024, at the Shanghai International Circuit.
McLaren’s Lando Norris (UK) and Red Bull’s Sergio Perez (Mexico) finished second and third, respectively.
Winners of Chinese GP 2024:
|
Position |
Driver | Team |
|
1 |
Max Verstappen |
Red Bull |
|
2 |
Lando Norris |
McLaren |
| 3 | Sergio Perez |
Red Bull |
Highlights of Chinese GP 2024:
- Verstappen’s triumph at the Chinese GP 2024 represents his fourth GP championship of the season.
- He has already won the Saudi Arabian GP 2024, the Bahrain GP 2024, and the Japanese GP 2024.
- This is Verstappen’s 58th win and 102nd podium result in his driving career.
- Zhou Guanyu, China’s first and sole F1 driver for the Kick Sauber team, finished 14th in the race.
Key Points:
- With this victory, Max Verstappen leads the 2024 Drivers Standings with 110 points, followed by teammate Sergio Perez with 85 points and Ferrari’s Charles Leclerc with 76 points.
- As of April 22, 2024, the Red Bull Racing-Honda racing team leads the 2024 Constructors’ Championship standings with 195 points, followed by Ferrari (151 points) in second and McLaren Mercedes (96 points) in third.
- The constructors’ ranking represents the points won by each team’s top two drivers in each Grand Prix.
About Sprint race:
- Max Verstappen also won the opening sprint race of the 2024 season, the Chinese Grand Prix 2024. Lewis Hamilton of Mercedes and Sergio Perez finished second and third, respectively.
- The F1 sprint is a short race lasting around 30 minutes and covering 100 kilometres, or roughly one-third of the typical Grand Prix distance. It’s a prelude to the main event.
About Chinese Grand Prix:
- The ‘Formula 1 (F1) Lenovo Chinese Grand Prix 2024’ is the 17th edition of the event and the fifth round of the 2024 Formula One World Championship.
- The first Chinese Grand Prix was contested in 2004. The final edition (16) took place in 2019.
Click here to read from source
BOOKS & AUTHORS
(Current Affairs 23rd April 2024)
12) Goa Gov Sreedharan Pillai Released his New Book “Heavenly Islands of Goa” (Current Affairs 23rd April 2024)
Goa Governor Sreedharan Pillai’s new (221st) book, “Heavenly Islands of Goa,” was released by Jagadguru Sri Sri Vidhushekhara Bharati Swami, Shankaracharya of Dakshinamnaya Sri Sharada Peetham, Sringeri (Karnataka), at a ceremony held in the New Durbar Hall of the Raj Bhavan in Dona Paula, Goa.
The book presents an overview of Goa’s biodiversity and legacy.
Damodar Mauzo, the 57th Jnanpith Award recipient, received the first copy of the book.
Five other books:
Prof. Dr. Kumud Sharma, Vice President of Sahitya Academy, New Delhi, Delhi, published ‘Cuncolim, ‘Kaavi Art’, ‘Icons of My Literature’, ‘Vikshit Bharat’, and ‘Canacona’ volumes written/compiled by Goa Governor Sreedharan Pillai on April 21, 2024.
Click here to read from source
IMPORTANT DAYS
(Current Affairs 23rd April 2024)
13) National Civil Services Day 2024 – April 21 (Current Affairs 23rd April 2024)
National government Services Day is marked annually on April 21 in India to recognize and respect the critical role that government workers play in the country’s growth.
National public Services Day is an opportunity for public servants to renew their commitment to provide exemplary service to the nation.
The 17th National Civil Service Day is observed on April 21, 2024.
Background:
- In 2006, India’s then-Prime Minister (PM) Dr. Manmohan Singh launched an event commemorating ‘Civil Service Day.’
- All 61 All India and Central Civil Services, comprising 15 non-technical and 20 technical services, were commemorating the day.
- On April 21, 2006, the Vigyan Bhawan in New Delhi (Delhi) hosted the first National Civil Services Day festivities.
Click here to read from source
14) World Creativity and Innovation Day 2024 – April 21 (Current Affairs 23rd April 2024)
The United Nations (UN) World Creativity and Innovation Day (WCID) is commemorated every year on April 21 to promote awareness of the importance of creativity and innovation in all facets of human development.
Every year, WCID promotes the relevance of a creative mentality in achieving the UN’s 17 Sustainable Development Goals (SDGs).
Background:
- World Creativity and Innovation Day is observed annually on April 21 by citizens and organizations in more than 50 nations worldwide. WCID was first honored on April 21, 2002.
- On April 27, 2017, the UN General Assembly (UNGA) approved resolution A/RES/71/284, designating April 21 as World Creativity and Innovation Day.
- On April 21, 2018, the first UN-recognised World Children’s International Day was marked.
Click here to read from source
15) International Mother Earth Day 2024 – April 22 (Current Affairs 23rd April 2024)
The United Nations (UN) International Mother Earth Day (also known as Earth Day) is commemorated every year on April 22nd to recognize the interaction between humans and environment in ecosystems.
The day emphasizes the need of protecting and improving people’s livelihoods, combating climate change, and putting an end to biodiversity loss.
According to Earthday.org, the theme for Earth Day 2024 is Planet vs. Plastics.
Background:
- On April 22, 2009, the United Nations General Assembly (UNGA) enacted Resolution A/RES/63/278, designating April 22nd as International Mother Earth Day.
- This plan was proposed by the ‘Plurinational State of Bolivia’.
- The inaugural International Mother Earth Day was commemorated on April 22, 2009.
Click here to read from source
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