Current Affairs 26th April 2024
Current Affairs 26th April 2024 – a date that might not hold immense historical significance, but one that was nonetheless filled with unique moments and observances. From celebrating the beauty of nature on National Arbor Day to raising awareness for animal care on National Hairball Awareness Day, this day offered a delightful mix of lighthearted fun and environmental consciousness.
In this blog, we’ll delve deeper into the happenings of April 26th, 2024. We’ll explore the significance of the day’s international observations, revisit some of the trends that popped up on social media, and perhaps even spark some ideas for you to celebrate these special occasions in the future. So, grab a cup of coffee, settle in, and let’s rewind to a day filled with kisses, cuddles with cats, and appreciating the world around us!
NATIONAL AFFAIRS
1) SJVN Limited inaugurates India’s 1st Multipurpose Green Hydrogen Pilot Project
On April 23, 2024, Geeta Kapur, Chairman and Managing Director (CMD) of SJVN Limited (formerly known as Satluj Jal Vidyut Nigam), launched India’s first multipurpose (combined Heat and Power) green hydrogen pilot project at the 1,500 megawatt (MW) Nathpa Jhakri Hydro Power Station (NJHPS) in Jhakri, Himachal Pradesh (HP).
She also launched the first-of-its-kind centralized operation of 1500MW NJPHS and 412 MW Rampur Hydrogen Power Station (RHPS) by remotely running Unit-II of RHPS from NJHPS in Jhakri.
Note: The initiative, which is aligned with the National Green Hydrogen Mission (NGHM), would speed up the construction of green hydrogen production infrastructure in the power sector.
About the green hydrogen pilot project:
- The cutting-edge green hydrogen pilot project is capable of meeting the high-velocity oxygen fuel (HVOF) coating facility of NJHPS’ combustion fuel requirements.
- It will also be able to generate power using its 25 kilowatt (kW) fuel cell. The green hydrogen plant will use an alkaline electrolyzer with a capacity of 20 Nm^3/Hr (normal meter cubed per hour) to produce hydrogen gas by splitting water into hydrogen and oxygen.
- This will use renewable energy from SJVN’s 1.31 MW solar power facility in Wadhal, Himachal Pradesh.
Benefits:
- The project is designed to create 14 kg of green hydrogen per day for 8 hours of operation, which will be kept in six storage tanks.
- Green hydrogen will be used for HVOF coating on turbine underparts. It can also generate power using its 25KW fuel cell.
About SJVN Limited:
It is a Mini Ratna, Category-I, Schedule ‘A’ Central Public Sector Enterprise (CPSE) under the Ministry of Power. It is a joint venture between the Government of India and the Government of Himalaya Pradesh.
- CMD (Additional Charge) – Geeta Kapur
- Headquarters- Shimla, Himachal Pradesh(H.P.)
- Established in 1988
Click here to read from source
2) Central Government Expands Committee for Drug and Medical Device Pricing Reforms
According to an official order issued by the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers, the Government of India (GoI) has approved the expansion of the committee formed to look into drug and medical device pricing reforms by admitting representatives from various industry bodies.
The government has invited at least seven industry groupings to the committee.
The committee’s major goal is to achieve a balance between the cost and availability of vital drugs.
Note:
The committee proposes institutional improvements for the National Pharmaceutical Pricing Authority.
Special Invitees inducted in the committee are:
- Director –General(DG), Organisation of Pharmaceutical Producers of India(OPPI),
- Managing Director(MD), United States-India Strategic Partnership Forum(USISPF).
Representatives from various industries:
Medical Technology Association of India (MTal), Confederation of Indian Industry (CII), Forum Coordinator, Association of Indian Medical Device Industry (AiMed), Federation of Pharma Entrepreneurs (FOPE), Representative of Advanced Medical Technology Association (AdvaMed), Association of Diagnostic Manufacturers of India (ADMI), Bulk Drug Manufacturers Association of India (BDMAI), and Representative of Associated Chambers of Commerce and Industry.
Background:
In response, the Department of Pharmaceuticals established a commission on March 12, 2024 to regulate drug pricing and essential medications.
The committee consists of 3 core members:
Leading the Department of Pharmaceuticals, Chairing the NPPA, and advising on economics.
Aside from them, the committee will feature two special invitees from the industry:
Secretary-General of the Indian Pharmaceutical Alliance (IPA) and Chief Executive Officer of the Indian Drugs Manufacturers Association (IDMA).
Key Functions of Committee:
- It will provide a framework for pricing medical equipment.
- It will also provide incentives for the sector to promote growth and exports.
About National Pharmaceutical Pricing Authority(NPPA):
It is India’s top regulatory organization in charge of controlling pharmaceutical medicine costs.
- Chairman: Kamlesh Kumar Pant
- Headquarters: New Delhi, Delhi
- Formation: 29th August, 1997
Click here to read from source
3) KABIL inks MoU with CSIR-NGRI for advancing Geophysical Investigations
On April 24, 2024, Khanij Bidesh India Limited (KABIL) signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research – National Geophysical Research Institute (CSIR-NGRI) to collaborate on geophysical studies over the long term.
It will support KABIL’s current initiatives and efforts in critical and strategic minerals.
This partnership will concentrate on surveys, data analysis, scientific information sharing, technical assistance, and consulting services in geophysics, geochemistry, and geology.
The MoU was signed by Sadashiv Samantaray, CEO of KABIL, and Dr. Prakash Kumar, Director of CSIR-NGRI, in the presence of Sridhar Patra, Chairman of KABIL, at the National Aluminium Company Limited (NALCO) Corporate Office in Bhubaneswar, Odisha.
Note: KABIL, established in 2019, is a joint venture business comprising three Public Sector Undertakings (PSUs) under the Ministry of Mines: NALCO, Hindustan Copper Limited (HCL), and Mineral Exploration and Consultancy Limited (MECL).
Click here to read from source
INTERNATIONAL AFFAIRS
4) India’s IFSCA & Kuwait’s CMA signed MoU for Information Sharing
On April 23, 2024, the International Financial Services Centres Authority (IFSCA) of India signed a Memorandum of Understanding (MoU) with the Capital Markets Authority (CMA) of Kuwait to exchange information on technology and innovation in the financial and regulatory ecosystems.
The MoU was inked on the sidelines of the India-Kuwait Investment Conference 2.0 in Kuwait City, Kuwait.
This collaboration intends to promote the growth of the financial markets in both India and Kuwait.
India-Kuwait Investment Conference 2.0:
The conference was organized by the Embassy of India in Kuwait in partnership with the Indian Business and Professional Council (IBPC), with assistance from Union Investment of Companies (UIC) and the Kuwait Chamber of Commerce and Industry (KCCI).
Ghanem Al Ghenaiman, Managing Director (MD) of the Kuwait Investment Authority (KIA), attended the ceremony as Chief Guest.
Key Participants:
The meeting was attended by representatives from Gujarat International Financial Tec-City (GIFT City), National Investment and Infrastructure Fund (NIIF), Invest India, and the Confederation of Indian Industry.
About International Financial Services Centres Authority(IFSCA):
It serves as the single regulator for the creation and regulation of financial goods, financial services, and financial institutions, including India’s GIFT International Financial Services Centre.
It was founded under the International Financial Services Centres Authority (IFSCA) Act of 2019.
- Chairman- K. Rajaraman
- Headquarters- GIFT City, Gujarat
- Established in 2020
About Kuwait:
- Emir(Head of State)- Sheikh Meshal Al Ahmad Al Jaber Al Sabah
- Prime Minister(PM): Sheikh Dr. Muhammad Sabah Al-Salem Al-Sabah
- Capital- Kuwait City
- Currency- Kuwaiti Dinar(KWD)
Click here to read from source
BANKING & FINANCE
5) RBI raises Minimum Capital Requirements for ARCs to Rs 300cr; Deputy Governor T. Rabi Sankar gets 1-Year Extension
The Reserve Bank of India (RBI) issued Master Direction – Reserve Bank of India (Asset Reconstruction Companies) Directions, 2024 in exercise of its powers conferred by Sections 3, 9, 10, 12, and 12A of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 (54 of 2002), which took effect on April 24, 2024.
- Under this, the RBI increased the Minimum Capital Requirement for ARCs from Rs 100 crore to Rs 300 crore.
- The Appointments Committee of the Cabinet (ACC) has reappointed T. Rabi Sankar as RBI’s Deputy Governor for a one-year term beginning May 3, 2024, or until further instructions, whichever comes first.
- The RBI levied a monetary penalty of Rs 10 lakh on NABFINS Limited, a subsidiary of the National Bank for Agriculture and Rural Development (NABARD) situated in Bengaluru, Karnataka.
About Reserve Bank of India (RBI):
- Governor – Shaktikanta Das
- Establishment–April 1, 1935
- Headquarters– Mumbai, Maharashtra
Click here to read from source
6) RBI restricts Kotak Mahindra Bank from Adding New Customers Online and Issuing New Credit Cards
(Current Affairs 26th April 2024)
On April 24, 2024, the Reserve Bank of India (RBI) used its authority under Section 35A of the Banking Regulation (BR) Act, 1949 by prohibiting Kotak Mahindra Bank Limited from onboarding new clients through its online and mobile banking channels and issuing new credit cards.
However, the bank will continue to serve its present customers, including those with credit cards.
Reason behind this Direction:
- Kotak Mahindra Bank’s IT risk and information security governance failed to fulfill regulatory criteria for two years in a row, despite corrective actions.
- As a result, the bank faced many failures in its Core Banking System (CBS) and digital channels, culminating in a disruption on April 15, 2024.
- To protect client interests and prevent disruptions to effective customer service and digital banking and payment systems, the RBI imposes business limits on banks.
Key Points:
- The RBI clamps down on regulated firms for noncompliance.
- In the recent three months, the RBI stopped Paytm Payments Bank Limited (PPBL) from accepting new deposits, IIFL (India Infoline Finance Limited) Finance from making new gold loans, and JM Financial from engaging in any share or bond funding activities.
- Bank of Baroda (BoB) has been restricted from onboarding clients on the Bob World app since October 2023.
Click here to read from source
7) PayU gets RBI’s approval to operate as Payments Aggregator
(Current Affairs 26th April 2024)
PayU Payments Private Limited (PayU), a major payments solution provider, has got preliminary clearance from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA).
With this clearance, PayU may onboard new merchants and provide them with seamless digital payment services.
It focuses on promoting digitization and financial inclusion, particularly among small businesses.
The certification shows PayU’s commitment to developing a strong digital payment infrastructure in India, which aligns with the Government of India’s Digital India agenda and progressive RBI rules.
Click here to read from source
AWARDS & RECOGNITIONS
8) Indian Institutes from Delhi NCR & Mumbai Won NASA Human Exploration Rover Challenge 2024 Awards
(Current Affairs 26th April 2024)
Indian student teams from the Delhi National Capital Region (NCR) and Mumbai (Maharashtra) have received honors in NASA’s 30th Human Exploration Rover Challenge (HERC) 2024.
The Krishna Institute of Engineering & Technology (KIET) Group of Institutions in Delhi-NCR earned the “Crash and Burn” award, while Kanakia International School in Mumbai got the “Rookie of the Year” honor.
The HERC 2024 competition was conducted at the United States Space & Rocket Center in Huntsville, Alabama, near NASA’s Marshall Space Flight Center.
Winners:
- Parish Episcopal School of Dallas, USA won first place in the high school section.
- The University of Alabama in Huntsville, Alabama, won the college/university category.
Objective of HERC:
The goal of HERC is to give student teams the chance to design, develop, build, and test human-powered rovers capable of navigating tough terrain, as well as a task tool for completing various missions.
Event Overview:
- Over 600 students from 72 teams from across the world competed in the NASA HERC 2024.
- Teams came from 42 colleges/universities and 30 high schools in 24 US states, the District of Columbia, Puerto Rico, and 13 other countries worldwide.
Competition Format:
Points were earned for completing a half-mile obstacle course, doing mission-specific duties, and conducting safety/design assessments with NASA engineers.
The NASA HERC competition is accessible to both American and foreign students in high school, college, and university grades.
NASA HERC:
- HERC is one of NASA’s eight Artemis Student Challenges, reflecting the Artemis program’s objective of landing the first woman and person of colour on the Moon.
- HERC has had over 15,000 participants since its establishment in 1994, with many pursuing employment at NASA or in the aerospace sector.
Click here to read from source
APPOINTMENTS & RESIGNATIONS
9) Amitabh Chaudhry re-appointed as MD and CEO of Axis Bank
(Current Affairs 26th April 2024)
The board of Axis Bank Limited has accepted Amitabh Singh Chaudhry’s re-appointment as Managing Director (MD) and Chief Executive Officer (CEO) for a further three years, beginning January 1, 2025 and ending December 31, 2027.
This marks his second three-year extension. His previous extension went into effect on January 1, 2022.
He has been Axis Bank’s MD and CEO from January 2019.
Note: The re-appointment is subject to the approval of the Reserve Bank of India (RBI) and the members, in accordance with relevant legislation.
About Amitabh Singh Chaudhry:
- Amitabh Chaudhry began his career with Bank of America in 1987, eventually joining Credit Lyonnais Securities in 2001.
- Before joining Axis Bank in 2019, he was the MD and CEO of HDFC Standard Life Insurance Company (HDFC Life) from 2010 to 2019.
- He also served as the MD and CEO of Infosys BPO from 2006 and 2010.
Other Appointments:
Axis Bank’s board has also accepted the re-appointment of Meena Ganesh and Gopalaraman Padmanabhan as Independent Directors for a second period of four years, effective from August 1, 2024 to July 31, 2028 and October 28, 2024 to October 27, 2028, respectively.
About Axis Bank Limited:
- MD & CEO– Amitabh Singh Chaudhry
- Headquarters- Mumbai, Maharashtra
- Established in 1993
- Tagline- Badhti ka Naam Zindagi
Click here to read from source
10) India’s Gita Sabharwal Appointed as the UN Resident Coordinator in Indonesia
(Current Affairs 26th April 2024)
On April 22, 2024, Gita Sabharwal of India was appointed United Nations (UN) Resident Coordinator (UN RC) in the Republic of Indonesia.
She succeeds Valerie Julliand of France, who has held the position since October 2020.
Note: She was named UN RC of Indonesia by UN Secretary-General António Guterres, with previous consent from the Indonesian government (host).
About Gita Sabharwal:
- Prior to the appointment, Gita Sabharwal was the UN Resident Coordinator in Thailand (since 2020) and the UN’s Peacebuilding and Development Advisor in Sri Lanka.
- She has approximately three decades of expertise in development, focusing on climate transition, sustainable peace, governance, and social policy.
- Prior to joining the UN, she worked as the Asia Foundation’s Deputy Country Representative for the Maldives and Sri Lanka.
- She also served as a Poverty and Policy Advisor for the United Kingdom’s Department of International Development in India and Vietnam.
About United Nations(UN):
- Secretary-General– António Guterres (Portugal)
- Headquarter– New York City, the United States of America(USA)
- Established in 1945
- Member countries- 193
Click here to read from source
11) Hardayal Prasad Appointed as MD & CEO of Srei Infrastructure Finance Limited
(Current Affairs 26th April 2024)
Srei Infrastructure Finance Limited (SIFL), operated by the National Asset Reconstruction Company Limited (NARCL), has named Hardayal Prasad as its new Managing Director (MD) and Chief Executive Officer (CEO).
He formerly worked as MD and CEO of SBI Cards & Payment Services Ltd and PNB Housing Finance Ltd.
Therefore, SIFL is poised to re-enter the CME market, addressing unmet consumer needs.
Note:RBI dissolved Kanoria’s boards in Oct 2021, then launched IBC, & NARCL bought firms to settle Rs. 32,000 crore debt.
Click here to read from source
12) Usain Bolt named as an Ambassador of ICC Men’s T20 World Cup 2024
(Current Affairs 26th April 2024)
On April 24, 2024, the International Cricket Council (ICC) named Jamaican sprinter Usain Bolt, an eight-time Olympic gold medalist, as the ambassador for the 9th edition of the ICC Men’s T20 World Cup 2024, which will take place in the West Indies and the United States of America (USA) from June 1 to 29, 2024.
As an ambassador, he will play an important role in marketing the event.
Usain Bolt holds world records in 100m, 200m, and 4x100m, clocking 9.58, 19.19, and 36.84 seconds.
Note: The ICC Men’s T20 World Cup 2024 will include 20 teams participating in 55 games.
Click here to read from source
SCIENCE & TECHNOLOGY
13) Rocket Lab launches NASA’s ACS3 and South Korea’s ‘NEONSAT-1’ into orbit
(Current Affairs 26th April 2024)
On April 24, 2024, Rocket Lab USA, Inc.’s (Rocket Lab) ‘Electron’ rocket launched the National Aeronautics and Space Administration’s (NASA) Advanced Composite Solar Sail System (ACS3) and South Korea’s ‘NEONSAT-1’ as part of the ‘Beginning of the Swarm’ mission from Rocket Lab Launch Complex 1 in Mahia, New Zealand.
About NASA’s ACS3:
- NASA’s ACS3 is a technological demonstration for novel materials that use sunlight to drive spacecraft.
- It has a CubeSat that, upon released from the rocket, deploys a solar sail equipped with booms.
- Kongsberg NanoAvionics built the 12U CubeSat measuring 20x20x30 cm.
- The mission will test new composite booms deploying a square-shaped solar sail, measuring 30 feet per side.
- The booms are comprised of flexible polymer and carbon fiber materials.
- Solar sails deploying at various angles capture sunlight, propelling spaceships forward as photons ricochet off the reflective surface.
- The technology’s benefits include the elimination of heavy propulsion systems, allowing for longer-duration and lower-cost missions.
About NEONSAT-1:
- NEONSAT-1, an Earth observation satellite, equips itself with a high-resolution camera to monitor the Korean Peninsula for natural disasters, leveraging AI to analyze photos.
- The Korea Advanced Institute of Science and Technology’s Satellite Technology Research Center (SaTReC) proudly launched NEONSAT-1, the first satellite of the NEONSAT program.
- In order to create the NEONSAT constellation, further NEONSAT satellites are scheduled to launch in 2026 and 2027.
Additional info:
Previous solar sail missions included Japan’s Ikaros spacecraft (launched in 2010) and the Planetary Society’s LightSail 2 (2019).
Click here to read from source
IMPORTANT DAYS
14) International Day of Multilateralism and Diplomacy for Peace 2024- April 24
(Current Affairs 26th April 2024)
The United Nations (UN) International Day of Multilateralism and Diplomacy for Peace is observed annually on April 24th around the world to promote the values of multilateralism and international cooperation, which are fundamental principles of the UN Charter, as well as to achieve the 2030 Sustainable Development Goals.
The Day honors the importance of multilateral decision-making and diplomacy in resolving international disputes peacefully.
Background:
- The United Nations General Assembly (UNGA) adopted Resolution A/RES/73/127 on December 12, 2018, thereby designating April 24th as International Day of Multilateralism and Diplomacy for Peace, starting with the 73rd session.
- The International Day of Multilateralism and Diplomacy for Peace was first commemorated on April 24, 2019.
Click here to read from source
15) International Girls in ICT Day 2024 – April 25 (Current Affairs 26th April 2024)
Every year, on the fourth Thursday of April, the world comes together to celebrate International Girls in ICT Day. This celebration actively inspires and encourages girls and women to pursue both education and careers in ICT. By doing so, it directly supports efforts to bridge the digital gender gap.
The International Girls in ICT Day 2024 was commemorated on April 25, 2024.
The International Telecommunication Union (ITU), the United Nations’ (UN) specialist body for ICTs, observes the Day on a yearly basis.
The subject of International Girls in ICT Day 2024 is “Leadership”.
Background:
- ITU established International Girls in ICT Day on April 8, 2011, to be held annually on the fourth Thursday in April.
- The ITU’s Plenipotentiary Conference adopted Resolution 70, leading to “Girls in ICT Day”.
- The first annual International Girls in ICT Day was held on April 28, 2011.
About International Telecommunication Union (ITU):
The International Telegraph Union (ITU) was founded in Paris, France, in 1865. On January 1, 1949, the International Telecommunication Union became a United Nations specialized agency.
- Secretary-General– Doreen Bogdan-Martin
- Headquarters– Geneva, Switzerland
Click here to read from source
16) World Malaria Day 2024 – April 25 (Current Affairs 26th April 2024)
Every year, on April 25th, the world commemorates World Malaria Day (WMD) to raise awareness about global efforts. This awareness campaign aims to control and ultimately eradicate malaria, a mosquito-borne illness caused by Plasmodium parasites.
The World Health Organization (WHO) oversees the yearly observation of WMD.
WMD 2024’s theme is “Accelerating the fight against malaria for a more equitable world”.
Background:
- WHO member states established World Malaria Day during the 2007 World Health Assembly (WHA).
- The first World Malaria Day was commemorated on April 25, 2008.
About World Health Organization (WHO):
- Director-General (DG)- Dr. Tedros Adhanom Ghebreyesus
- Headquarters– Geneva, Switzerland
- Established on– 7 April 1948
Click here to read from source
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