Current Affairs 30th April 2024
Welcome to your one-stop shop for staying up-to-date! In this edition of Current Affairs for April 30th, 2024, we’ll delve into the latest happenings from around the world.
Whether you’re interested in global news, national headlines, or intriguing developments, we’ve got you covered. So, grab your favorite beverage, settle in, and get ready to dive into the most noteworthy events of April 30th, 2024.
NATIONAL AFFAIRS
1) DoPPW launched Integrated Pensioners’ Portal of Bank of India
On April 26, 2024, the Department of Pension and Pensioners Welfare (DoPPW) of the Ministry of Personnel, Public Grievances, and Pensions inaugurated the “Integrated Pensioners Portal of Bank of India”.
This is consistent with DoPPW’s efforts to connect the Pension Portals of all 17 Pension Disbursing Banks with the DoPPW Integrated Pensioners’ Portal in order to improve pensioners’ quality of life.
Points to note:
- With this integration, Bank of India (BOI) retirees will be able to access one-stop services such as pension slips, status of life certificate filing, due and drawn statements, and Form-16 through the integrated pensioners portal.
- With this introduction, a total of five banks are connected to deliver services through a single window.
So far, the integration of the pension portals of State Bank of India (SBI), Bank of Baroda (BOB), Punjab National Bank (PNB), and Canara Bank with the Bhavishya site has been completed.
About Bhavishya Portal:
- The ‘Bhavishya’ platform, an integrated online Pension Sanction and Payment Tracking system, became required for all central government ministries on January 1, 2017.
Aim: To guarantee that all retirement dues are paid and that retiring employees get their Pension Payment Order (PPO) on the day of retirement.
- The Centralized Pension Grievances Redress and Monitoring System (CPENGRAMS), ANUBHAV, ANUDAAN, Skill Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP), and pension dashboard were combined into BHAVISHYA.
Note: According to the National e-Governance Service Delivery Assessment (NeSDA) 2021, BHAVISHYA was placed third among the Central Government e-Governance Service Delivery portals.
About Bank of India(BOI):
- Managing Director (MD) and Chief Executive Officer(CEO)- Rajneesh Karnatak
- Headquarters- Mumbai, Maharashtra
- Founded in 1906
- Tagline- “Relationship Beyond Banking”
Click here to read from source
2) India’s Gem and Jewellery Sector Receives AEO Status from Finance Ministry
The gem and jewelry sector has been designated as an Authorised Economic Operator (AEO) by the Ministry of Finance. The Customs Department launched the AEO program as a trial initiative in 2011 with the goal of improving business efficiency, saving time, and lowering costs for export-oriented enterprises.
The Gem and Jewellery Export Promotion Council (GJEPC) advocates for industry participation.
Asian Star, a renowned diamond and diamond jewelry producer, was the first company to receive AEO designation in the Indian gem and jewellery business, out of 20 applicants.
About AEO program:
i.AEO is a program within the World Customs Organization’s (WCO) SAFE Framework of Standards that aims to safeguard and facilitate global commerce, improve international supply chain security, and encourage lawful trade.
ii.It identifies entities that meet supply chain security criteria and offers AEO accreditation and advantages to recognized international trade businesses.
Click here to read from source
INTERNATIONAL AFFAIRS
3) Highlights of 26th World Energy Congress held in Rotterdam, The Netherlands
- The 26th World Energy Congress was held in Rotterdam, Netherlands, from April 22 to 25, 2024, with the subject ‘Redesigning energy for people and planet’.
- It was hosted by the World Energy Council (WEC) and WEC Netherlands, as well as the Netherlands’ Ministry of Economic Affairs and Climate Policy, the City of Rotterdam, and the Rotterdam Port.
- Congress aims to investigate the role of connected energy communities in accelerating global energy transitions in a world that is less predictable, more chaotic, and more rapidly changing.
- India was represented by Pradip Kumar Das, Chairperson and Managing Director (MD) of the Indian Renewable Energy Development Agency Ltd. (IREDA), in a panel discussion on ‘The New Interdependencies: Trust, Security, and Climate Resilience’.
- The Asian Development Bank (ADB) has reiterated its commitment to a prosperous, inclusive, resilient, and sustainable Asia-Pacific through Strategy 2030, which focuses on seven priorities: education, energy, finance, health, transportation, urbanization, and water.
About World Energy Council (WEC):
- Secretary General and CEO– Dr Angela Wilkinson
- Headquarters– London, United Kingdom
- Establishment– 1923
About WEC India:
It is a nation member of WEC. It joined the council in 1924. WEC India is supported by the Ministries of Coal, New and Renewable Energy, Petroleum and Natural Gas, and External Affairs, as well as the Ministry of Power of the Government of India.
- Chairman– Pankaj Agarwal
- Headquarters– New Delhi, Delhi
Click here to read from source
BANKING & FINANCE
4) RBI Kept FDI Investment Limit in G-Sec Unchanged at 6% of Outstanding Stock For FY25
On April 26, 2024, the Reserve Bank of India (RBI) stated that the Foreign Portfolio Investors (FPI) investment limit in Government Securities (G-Sec) will continue at 6% of outstanding security stocks for FY25 (2024-25).
The FPI restrictions for investments in state government securities (SGSs) and corporate bonds remain at 2% and 15%, respectively. Of outstanding security stocks for fiscal year 25.
As of today, all qualified investors’ investments in the’specified securities’ will be treated as Fully Accessible Route (FAR).
Key Points:
- We divide the allocation of incremental adjustments in the G-Sec Limit (in absolute terms) into two sub-categories: General and Long Term. This split will remain at 50:50 in 2024-25.
- Additionally, we include the whole increase in the limit for State Development Loans (SDLs) (in absolute terms) to the general subcategory of State Development Loans.
Additional info:
The RBI has also announced that the aggregate national limit of Credit Default Swaps (CDS) traded by foreign portfolio investors will be 5% of the outstanding stock of corporate bonds.
For fiscal year 25, an additional limit of Rs 2,54,000 crore has been granted.
About Reserve Bank of India(RBI):
- Governor- Shaktikanta Das (25th Governor of RBI)
- Headquarter- Mumbai, Maharashtra
- Established on 1 April 1935
Click here to read from source
5) RBI Directs Talkcharge to Stop PPI, Wallet Issuance & Refund Balance
The Reserve Bank of India (RBI) has directed Gurugram-based fintech firm Talkcharge Technologies Private Limited (Talkcharge) to halt the issuance and operation of its Prepaid Payment Instruments (PPIs) or wallets and refund any balances held in the wallets within 45 days (by May 17, 2024).
Background:
The RBI has discovered that Talkcharge has been providing PPIs (Wallets) to its consumers via its website and app ‘TalkCharge’ without the necessary authorization from the RBI under the terms of the Payment and Settlement Systems Act, 2007.
About Prepaid Payment Instruments (PPIs):
- These instruments make it easier to buy goods and services, execute financial transactions, and make remittances against the value stored in them. It can be issued by both banks and nonbanks.
- The cash loading maximum for PPIs is Rs 50,000 per month, subject to the PPI’s overall limit.
- Bank and non-bank organizations would be able to issue PPIs in India after receiving the requisite clearance from the RBI under the Payment and Settlement Systems Act, 2007.
Types of PPIs:
- Small PPIs: provided with minimal information and only valid at particular merchant locations; no money transfer or cash withdrawal. There are two varieties of Small PPIs: up to Rs 10,000 (with cash loading facility). Holders have the opportunity to upgrade these PPIs to full KYC PPIs within a timeframe of 24 months.
- PPIs up to Rs 10,000 (no cash loading facility).
- After completing Know Your Customer (KYC) for the PPI holder, institutions can issue Full-KYC PPIs. These instruments can then be used for purchases, money transfers, and even cash withdrawals.The overdue payment shall not exceed Rs2 lakh.
About Reserve Bank of India(RBI):
- Governor- Shaktikanta Das (25th Governor of RBI)
- Headquarter– Mumbai, Maharashtra
- Established on 1 April 1935
Click here to read from source
6) REC Limited Secured JPY60.5 Billion Green Loan from SACE, Italian Export Credit Agency (Current Affairs 30th April 2024)
REC Limited (previously Rural Electrification Corporation Limited) has received a green loan of JPY 60.536 (~Rs 3250 crore) from SACE, an Italian export credit agency, to fund green projects in India.
SACE provides an 80% guarantee for the green facility as part of the “Green Push Strategy” campaign.
Significance:
- The lending facility is a first-of-its-kind partnership between the Indian institution REC and SACE.
- This is SACE’s first JPY-denominated loan transaction and green loan transaction in India.
- This establishes a benchmark in the Indian public sector for future green financing agreements, demonstrating a growing commitment to sustainable finance.
Key Points:
- Various Asian, American, and European banks participated in the green loan. This includes Bank of America, Citibank, and the KfW IPEX-bank.
- Sumitomo Mitsui Banking Corporation will serve as mandated lead arrangers.
- Credit Agricole and Investment Bank will serve as the Export Credit Agency Coordinator, Green Loan Coordinator, Documentation Bank, and Facility Agents.
- Under this facility, SACE is dedicated to supporting renewable energy, green transportation, and energy efficiency initiatives that would enable India’s long-term prosperity.
- It is a strategic investment for REC Limited that demonstrates its commitment to sustainable growth and is consistent with its Green Finance Framework.
Additional info:
In January 2024, REC Limited released its first JPY 61.1 billion 5-year, 5.25-year, and 10-year Green bonds under its USD 10 billion Global Medium Term Notes Programme.
About REC Limited:
REC Limited (previously Rural Electrification Corporation Private Limited) is an Indian Maharatna CPSE under the Ministry of Power.
The Reserve Bank of India (RBI), the country’s financial regulator, has registered the company as both a Non-Banking Finance Company (NBFC) and an Infrastructure Financing Company (IFC).
- Chairman and Managing Director(CMD)- Vivek Kumar Dewangan
- Headquarter- New Delhi, Delhi
- Established in 1969
Click here to read from source
7) Cred Launches Offline QR Code-based ‘Scan and Pay’ Service (Current Affairs 30th April 2024)
Cred, a fintech business, has introduced an offline ‘Scan and Pay’ service based on the Unified Payments Interface (UPI), which allows customers to scan QR codes and make payments straight from their bank accounts.
Cred wants to encourage users to use the app to scan QR codes at high-end retail locations including supermarkets, restaurants, beauty salons, and fashion businesses.
Merchants dealing with large transaction values, typically using credit cards, are the prime targets.
Merchant Terminals:
- Merchants may choose from a variety of terminal types, including portable devices, kiosks, and dynamic QR code displays powered by Razorpay Point of Sale (POS) and Pine Labs.
- Terminals are offered in portable ‘pocket’ format or as ‘kiosks’ in high-traffic locations.
- ‘Kiosk’ enables self-service ordering and UPI payments, improving the customer experience.
Note: This retail offline payment project builds on successful trials in big size stores, making it more convenient for both businesses and customers.
Click here to read from source
8) SBI partners with HCL Software for Digital Transformation (Current Affairs 30th April 2024)
The State Bank of India (SBI) has signed a five-year arrangement with HCLSoftware, the software business section of HCLTech, to digitally change its customer engagement framework using the HCL Unica platform.
It would deliver hyper-personalised communication across SBI’s various digital marketing channels while conforming to the Digital Personal Data Protection Act (DPDPA).
It will also make complicated, multi-channel digital marketing campaigns easier, boosting customer engagement, precision, and relevance.
Click here to read from source
Click here to read: Current Affairs 30th & 29th April 2024
ECONOMY & BUSINESS
9) NIPFP projects India’s FY25 GDP growth at 7.1-7.4% (Current Affairs 30th April 2024)
The National Institute of Public Finance and Policy (NIPFP) held a lecture at its New Delhi campus on April 26, 2024, to unveil its ‘FY 2023-24: Year End Macroeconomic Review’. Using high-frequency models, it estimates India’s GDP growth to be 7.1-7.4% in FY25 (2024-25).
This economic expansion will be fueled by increased capital expenditure (Capex) and government investment in public goods.
The federal government is seeking fiscal consolidation by boosting tax revenues and reducing revenue spending.
Key Points:
- States had strong capex growth in FY24 as a result of considerable transfers from the Centre. However, federal transfers are growing at a minimal rate of 0.7%, with reductions in nine states: Kerala (-43%), Bihar (-30%), Karnataka (-23%), Maharashtra, Punjab, West Bengal (WB), Uttarakhand, Himachal Pradesh (HP), and Tamil Nadu (TN).
- Construction’s contribution of total GVA has increased from 7.85% in FY21 to 9.13% in FY24.
- The NIPFP identifies downward risks to the prediction, such as government consumption spending constriction and slowing private consumption growth.
- Concerns remain about global GDP slowing, reduced global inflation, and geopolitical concerns such as increasing oil costs.
- On the other hand, there is optimism about India’s economy because of the government’s heavy investment, strong domestic demand, and continued trust in business and consumers.
Note:
The Asian Development Bank (ADB) and Fitch Ratings expect India to grow by 7% in FY25, whereas the International Monetary Fund (IMF), S&P Global Ratings, and Morgan Stanley foresee a 6.8% increase.
About National Institute of Public Finance and Policy (NIPFP)
It serves as a research center for public economics and policy.
- Chairman– Dr. Urjit Patel
- Headquarters– New Delhi, Delhi
- Establishment– 1976
Click here to read from source
APPOINTMENTS & RESIGNATIONS
10) A Ganesh Kumar, Debasis Kundu Appointed as Members of National Statistical Commission(NSC) (Current Affairs 30th April 2024)
The Ministry of Statistics and Programme Implementation (MoSPI) has named A Ganesh Kumar and Debasis Kundu to the National Statistical Commission (NSC).
The commission now has a total of five members, including its chairman.
About the Appointments:
- Ganesh Kumar is a professor at the Indira Gandhi Institute of Development Research (IGIDR) in Mumbai, Maharashtra.
- Debasis Kundu is a Professor in the Indian Institute of Technology’s Department of Mathematics and Statistics in Kanpur, Uttar Pradesh.
About National Statistical Commision(NSC):
NSC was established by the Government of India (GoI) by a decision dated June 1, 2005, based on the recommendations of a panel led by C. Rangarajan (Former RBI Governor).
Rajeeva Laxman Karandikar now serves as the part-time chairman.
Click here to read from source
11) Pakistan’s Foreign Minister Mohammed Ishaq Dar appointed as Deputy PM (Current Affairs 30th April 2024)
Mohammed Ishaq Dar, the current minister of foreign affairs, has been named as the deputy Prime Minister (PM). He was appointed by Pakistan’s Prime Minister Nawaz Sharif with immediate effect.
He becomes Pakistan’s first Deputy Prime Minister since Pervaiz Elahi, who held the position from 2012 to 2013. The position has been vacant from 2013 until 2024.
He is a chartered accountant who supports the Pakistan Muslim League-Nawaz (PML-N) political party.
He was finance minister from 1998 to 1999, 2013 to 2017, and again from 2022 to 2023.
Click here to read from source
SPORTS
12) India Wins 8 Medals in 2024 Archery World Cup Stage 1 held in Shanghai (Current Affairs 30th April 2024)
India won 8 medals (5 golds, 2 silvers, and 1 bronze) at the 2024 Hyundai Archery World Cup Stage 1 in Shanghai, China, from April 23 to 28, 2024.
South Korea and Spain finished second and third, with seven and two medals, respectively.
Top 3 on overall Medal Tally:
|
Rank |
Country | Gold | Silver | Bronze | Total Medal |
|
1 |
India | 5 | 2 | 1 | 8 |
| 2 | South Korea | 2 | 3 | 2 |
7 |
| 3 | Spain | 1 | 1 | 0 |
2 |
Notably, India won the most gold medals and medals in a single World Cup stage.
Indian Medal Winners:
|
Archer |
Event |
Medal |
| Jyothi Surekha Vennam |
Women’s Compound Individual |
Gold |
| Jyothi Surekha Vennam, Aditi Gopichand Swami and Parneet Kaur |
Women’s Compound Team |
|
| Abhishek Verma, Priyansh, and Prathamesh Bhalchandra Fuge |
Men’s Compound Team |
|
| Tarundeep Rai, Dhiraj Bommadevara, and Pravin Ramesh Jadhav |
Men’s Recurve Team |
|
| Jyothi Surekha Vennam and Abhishek Verma |
Mixed Compound Team |
|
| Priyansh |
Men’s Compound Individual |
Silver |
| Deepika Kumari |
women’s individual recurve |
|
| Ankita Bhakat and Dhiraj Bommadevara |
Mixed Recurve Team |
Bronze |
Key Points:
- Jyothi Surekha Vennam earned three gold medals, including the individual gold medal in the women’s compound individual event.
- Jyothi, Aditi Gopichand Swami, and Parneet Kaur won gold in the women’s compound team event.
- She also won the gold medal in the Mixed Compound Team event, alongside Abhishek Verma.
- The Indian men’s recurve team, consisting of Dhiraj Bommadevara, Tarundeep Rai, and Pravin Jadhav, won the gold medal.
- It was India’s first World Cup men’s recurve team gold medal in 14 years. Previously, Rahul Banerjee, Jayanta Talukdar, and Tarundeep Rai from India won gold in Shanghai in 2010.
About Archery World Cup 2024:
- The Archery World Cup 2024 is World Archery’s 18th annual tournament.
- It happens in four stages: stage one, stage two, stage three, and the final stage.
- Stage 2 will take place in Yecheon, South Korea in May 2024, Stage 3 in Antalya, Turkey in June 2024, and the final in Tlaxcala, Mexico in October 2024.
Click here to read from source
OBITUARY
13) MP from Karnataka, Ex-Union Minister V Sreenivasa Prasad Passed Away (Current Affairs 30th April 2024)
Venkataiah Sreenivasa Prasad, 76, a Bharatiya Janata Party (BJP) Member of Parliament (MP-Lok Sabha) from the Chamarajanagar seat (Karnataka), died in Bengaluru, Karnataka. He was born on August 6, 1947, in Ashokapuram, Mysuru, Karnataka.
About Venkataiah Srinivasa Prasad:
- In 1974, he ran as an independent candidate in the Krishnaraja segment by-election for the Karnataka Legislative Assembly.
- He joined the Janata Party in 1976 and then the Congress in 1979.
- Prior to joining the BJP in 2016, he worked for the Janata Dal (Secular) (JD(S), JD(United), and the Samata Party.
Stint as MP and Union Minister:
He served as MP for the Chamarajanagar seat for six terms (1980–1984, 1989–1991, 1999–and 2019).
From 1999 to 2004, he was the Union Minister of State for Consumer Affairs, Food, and Public Distribution.
Note: In March 2024, he declared his retirement from electoral politics.
Stint as MLA:
- Representing Congress, he was elected to the Legislative Assembly (MLA) from the Nanjangud (Karnataka) seat in 2008 and 2013.
- From 2013 to 2016, he was Karnataka’s Minister of Revenue and Muzrai.
Click here to read from source
IMPORTANT DAYS
14) World Day for Safety and Health at Work 2024 – April 28 (Current Affairs 30th April 2024)
Every year on April 28th, we hold World Day for Safety and Health at Work to raise awareness about the need to build safe and healthy work environments. This day aims to prevent occupational accidents and diseases worldwide.
In 2024, the theme for World Day for Safety and Health at Work, observed on April 28th, is “Ensuring safety and health at work in a changing climate.
The International Labour Organization (ILO) leads the yearly celebration of the Day.
Background:
- The ILO established World Day for Safety and Health at Work in 2003, drawing on the organization’s tripartite principles and social discourse.
- Furthermore, this observation aligns directly with the International Labour Organization’s (ILO’s) Global Strategy on Occupational Safety and Health (OSH). The strategy was established in the Conclusions of the International Labour Conference held in June 2003.
Advocacy: As one of the Global Strategy’s core pillars, World Day is an important advocacy tool for promoting safe and healthy workplaces.
- The first-ever World Day for Safety and Health at Work was marked on April 28, 2003.
About International Labour Organization (ILO):
- Director-General– Gilbert Fossoun Houngbo
- Headquarters– Geneva, Switzerland
- Established in– 1919
Click here to read from source
15) International Dance Day 2024 – April 29 (Current Affairs 30th April 2024)
Every year, the world commemorates International Dance Day, also known as World Dance Day, on April 29th. This day celebrates the art of dance and its global influence. Dance transcends political, cultural, and ethnic borders, acting as a common language that connects people.
The Day also honors the birth anniversary of French dancer and ballet master Jean-Georges Noverre (1727-1810). He is credited with inventing ballet d’action, sometimes known as dramatic ballet.
The International Theatre Institute (ITI), the world’s biggest performing arts organisation, leads the annual World Dance Day celebration.
Background:
The International Theatre Institute’s (ITI) Dance Committee, known as the IDC, took the initiative in 1982 to establish International Dance Day. Celebrated annually on April 29th, the day coincides with the birth anniversary of Jean-Georges Noverre.
The ITI Dance Committee is UNESCO’s primary partner in the performing arts.
Note: Jean-Georges Noverre is also recognized as “the Grandfather of Ballet” and “the Pioneer of Modern Ballet.”
Goals of World Dance Day:
Our goals include promoting dance globally, raising awareness of its worth, empowering the dance community to advocate for their work, and sharing the joy of dance.
2024 Message:
Argentine dancer Marianela Núñez, Principal of The Royal Ballet at the Royal Opera House in London, United Kingdom, authored the statement for World Dance Day 2024.
Her major performances include “Swan Lake,” “Sleeping Beauty,” “Romeo and Juliet,” and “Giselle.”
Since 1982, the ITI IDC, the ITI Executive Council, and the World Dance Alliance have chosen a great dance personality to submit a statement for World Dance Day each year.
Click here to read from source
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