Current Affairs 4th April 2024
Welcome to your one-stop shop for all things current affairs! Today, we set our sights on Current Affairs 4th April 2024. Buckle up as we dive into the latest news stories shaping our world, from international relations and politics to business and science. Whether you’re a news junkie or just want to stay informed, this blog is your key to understanding the events that matter.
NATIONAL AFFAIRS
1) QCI and LUB Signed MoU to Boost MSME Competitiveness
Govt. program helps small businesses (MSME) to be more competitive.
It states that LUB is an organization and specifies its characteristics (registered, all-Indian, for micro and small industries, founded in 1994).
Key Points
- To encourage the adoption of lean principles and sustainable practices among LUB members, the MoU lays out a schedule for cooperative efforts that includes training sessions, awareness campaigns, and consultations at the state and district levels.
- To ensure a smooth implementation, a designated nodal officer from each organization will act as a single point of contact for all MCLS-related matters.
- The National Accreditation Board for Education and Training (NABET) will function as one of the MCLS Implementing Agencies, encouraging LUB members to register for the program and providing the necessary support when required.
One of QCI’s constituent boards is NABET.
- It will also assist LUB members in progressing from Lean Basic to Lean Intermediate and, eventually, Lean Advance levels on the Lean Journey.
Indeed, programs like MCLS and Zero Defect Zero Effect (ZED) help businesses reduce waste, boost output, and boost profits.
About MCLS:
- The Ministry of MSME (MoMSME) launched the MCLS initiative to increase the competitiveness of MSMEs in India.
- Putting lean tools and techniques into practice will increase MSMEs’ competitiveness, productivity, and efficiency.
About Quality Council of India (QCI)
DPIIT, Ministry of Commerce, sponsors independent org.
- Chairperson – Jaxay Shah
- Secretary General- Rajesh Maheshwari
- Headquarters – New Delhi, Delhi.
- Establishment – 1997
Click here to read from source
2) Meta Partners with PTI to Expand its Fact-Checking Program in India
Under its third-party fact-checking program in India, Meta Platforms, Inc. (formerly Facebook, Inc.) has partnered with Press Trust of India (PTI), the country’s largest news agency, to establish a specialized fact-checking unit.
PTI will search, evaluate, and rank content on Meta platforms for false information as part of this collaboration.
Thanks to this partnership, Meta now has the most fact-checking partners in India with 12, covering 16 Indian languages (apart from English) through current fact-checking partners.
Note: Among other things, Meta owns and runs WhatsApp, Facebook, Instagram, and Threads.
Purpose: In order to stop false information from spreading on its platforms, Meta has partnered with independent fact-checking organizations as part of its fact-checking program in India.
Fact-Checking Mechanism:
- Meta evaluates and rates viral misinformation on Facebook, Instagram, and WhatsApp in collaboration with International Fact-Checking Network (IFCN) certified fact-checkers.
- Fact-checkers’ flagging of misinformation results in its decreased distribution and comes with warning labels and notifications for users who try to share it.
Program Evolution:
- Meta launched its fact-checking campaign in 2016 to address misinformation that went viral.
- The program’s main goal is to combat current and significant misinformation, especially blatant hoaxes with no solid evidence.
Global Impact:
- Since 2016, Meta’s fact-checking program has grown to encompass almost 100 organizations worldwide.
- The program attempts to combat false information that spreads quickly, especially blatant hoaxes with no basis in reality.
About Meta Platforms, Inc.:
- Launched in 2004, Facebook was rebranded as Meta in 2021.
- Founder and CEO– Mark Zuckerberg
- Headquarters– California, The United States of America (USA)
Click here to read from source
3) MoHFW Mandates Linking of CGHS Beneficiary ID with Ayushman Bharat Health Account ID
The Ministry of Health and Family Welfare (MoHFW) mandated linking CGHS beneficiary IDs with ABHA IDs on April 1, 2024, for centralized health data management.
The purpose of this is to store the digital health records of beneficiaries of the CGHS and create a digital health identity for them.
According to the MoHFW, all current beneficiaries have 30 days to finish the linking process.
About CGHS:
- The Indian government launched the Central Government Health Scheme (CGHS) in 1954 to provide comprehensive healthcare for its employees, retirees, and their dependents.
- The MoHFW reports that the CGHS covers about 42 lakh beneficiaries in 80 cities.
- It provides medical care grounded in yoga, unani, siddha, and allopathic and homoeopathic medicine.
About ABHA:
- Under the National Digital Health Mission (NDHM), the Ayushman Bharat Digital Mission (ABDM) was introduced in 2021.
- It gives people access to their health records through a digital health ID called the Ayushman Bharat Health Account (ABHA).
The 14-digit random number that serves as an ABHA is a unique health identifier that can be obtained digitally or in hard copy. - Its goal is to build a platform that facilitates health data interoperability across the health ecosystem so that each citizen can have a longitudinal Electronic Health Record (EHR).
- Data as of January 24, 2024, indicates that 52,50,15,110 AВНΐ Numbers have been generated in total.
Click here to read from source
4) MCD Extends Deadline for Geo-tagging of Properties Till 30 June 2024
The Delhi civic body, the Municipal Corporation of Delhi (MCD), has decided to give taxpayers one more chance to register their properties with MCD by extending the deadline for geotagging properties until June 30, 2024.
For various reasons, including technical difficulties, many taxpayers were unable to register their properties by the original deadline.
This is the third extension for the geo-tagging program that the MCD has given.
Notably, MCD is one of the biggest municipal organizations in the world, offering civic services to about 20 million Delhi residents.
Previous Deadlines:
- By January 31, 2024, MCD intended to have 15 lakh Delhi homes geotagged.
- Nevertheless, the deadline was later moved to March 31, 2024, and then to February 29, 2024.
Note: Of the 15 lakh homes in Delhi that were intended, only 3.5 lakh have been successfully geotagged thus far.
Consequences of Non-Compliance:
In the current fiscal year (2024–25), taxpayers who do not geotag their properties by June 30th will not be eligible for the rebate on lump-sum tax payments.
What is Geo-tagging of properties?
- It is a procedure that entails giving each property on a Geographic Information System (GIS) map a distinct latitude and longitude coordinate.
- To accomplish this, the location of the property is linked to a Unique Property Identification Code (UPIC).
- It guarantees that every property’s location is determined using precise Latitude-Longitude coordinates.
- The MCD seeks to simplify a range of public services, improve urban planning, and increase the effectiveness of government overall by accurately mapping properties.
Note: The MCD mandated geotagging of all types of properties in December 2023 in order to qualify for property tax exemption.
Importance of Geo-Tagging:
- Individual properties can be precisely identified by their location thanks to geotagging.
- It helps MCD provide citizens with better services.
- Residents and the corporation will both benefit from geotagging initiatives for properties.
Click here to read from source
5) IICA & HP India launch ESG Professional Programme
The Indian Institute of Corporate Affairs (IICA), in collaboration with HP India, launched the “HP Future Impact Leaders – IICA Certified Environmental – Social – Governance (ESG) Professional Programme” to empower CSR professionals and advance sustainability by equipping them with expertise in navigating ESG frameworks.
75 candidates will receive 100% scholarships under this program to pursue advanced ESG education.
To be eligible for the program, candidates must have a bachelor’s degree in any discipline and at least five years of experience in related fields.
Note: IICA is an independent institute under the Ministry of Corporate Affairs (MCA) that provides services in the areas of corporate governance and affairs, think tank, and capacity building.
Click here to read from source
BANKING & FINANCE
6) TATA AIG General Insurance Company Introduces ‘Travel Guard Plus’ Insurance Product
The launch of “Travel Guard Plus,” a comprehensive travel insurance product, by top general insurance provider TATA AIG General Insurance Company Limited aims to redefine full coverage for travelers.
With 41 different types of covers packaged to ensure a stress-free experience, this product meets the varied travel needs of people with a wide range of plans.
Key Features:
- To meet their specific needs, customers can select from three add-on bundles: the Cruise Bundle, Travel Plus Bundle, and Accident Bundle.
- Travel Guard Plus provides coverage for the following: personal accident in India, compassionate travel/stay, extension of stay, upgrade to business class, loss of personal baggage, and immediate reimbursement for flight delays or cancellations.
- Optional assistance services like Care at Home, Baggage tracking, and Lost Passport tracking allow customers to further personalize their coverage.
New Features:
- An annual multi-trip policy that covers up to 180 days for each trip.
- A single trip option that allows for a 365-day policy duration.
- A non-medical insurance policy for short-term visitors or students.
- A different Schengen geo-scope plan.
- Adventure sports and pandemic coverage are examples of new age covers.
Special Plans:
- Senior Plus plan for increased medical coverage up to $100,000 USD (for people aged 71 to 80).
- Super Senior plan for greater medical coverage up to $50,000 USD (above 80 years old).
About Tata AIG General Insurance Company Limited:
The American International Group (AIG) and the Tata Group have a joint venture (JV) in place.
- Chairman– Saurabh AgrawalMD & CEO– Neelesh Garg
- Headquarters– Mumbai, Maharashtra
- Established on 22nd January 2001
Click here to read from source
ECONOMY & BUSINESS
(Current Affairs 4th April 2024)
7) World Bank projects Indian Economy to grow at 7.5% in 2024; EAP is projected to ease to 4.5% in 2024 (Current Affairs 4th April 2024)
India’s economy is expected to grow by 7.5% in 2024, according to the World Bank’s April 2024 South Asia Development Update – Jobs for Resilience. This is a revision of 1.2% from the 6.3% estimate in the October 2023 report.
It is anticipated that India’s output growth will accelerate to 7.5% in FY 2023–24 (FY24) before slowing to 6.6% in FY25, mostly as a result of a slowdown in investments.
For the next two years, South Asia is expected to continue being the world’s fastest-growing Emerging Market and Developing Economy (EMDE) region, with growth expected to reach 6.1% in 2025.
The World Bank predicted that East Asia and the Pacific’s (EAP) growth would slow to 4.5% in 2024 from 5.1% in 2023 in its semi-annual economic outlook, “East Asia and Pacific April 2024 Economic Update, April 2024: Firm Foundations of Growth.” Developing EAP, excluding China, is expected to pick up to 4.6% from 4.4% in 2023.
About World Bank (WB):
- WB Group President– Ajay Banga
- Headquarters– Washington, DC, USA
- Establishment– 1944
Click here to read from source
8) BMW Group and Tata Tech Signed JV Agreement to Develop Automotive Software and IT Hub (Current Affairs 4th April 2024)
An agreement has been signed by the Bayerische Motoren Werke (BMW) Group and Tata Technologies Limited, a Tata Motors Limited subsidiary, to form a Joint Venture (JV) with the aim of establishing an IT and Automotive Software development hub in Pune, Maharashtra, Bengaluru, and Chennai. (Tamil Nadu).
Automotive software, such as Software-defined Vehicle (SDV) solutions for the BMW Groups’ luxury cars and digital transformation solutions for its business IT, will be provided by the joint venture.
Pune and Bengaluru will serve as the primary hubs for development and operations. Business IT solutions would be the main focus in Chennai.
Note: Pune-based Tata Tech is a multinational provider of digital services and product engineering. BMW, based in Munich, Germany, is the world’s top manufacturer of luxury automobiles and motorbikes.
Click here to read from source
Click here to read: Current Affairs 3rd April 2024
APPOINTMENTS & RESIGNATIONS
(Current Affairs 4th April 2024)
9) Abdel Fattah Al-Sisi sworn in as Egypt’s President for the 3rd Term (Current Affairs 4th April 2024)
Egypt’s third term of presidential office has been sworn in by Abdel Fattah Al-Sisi in the nation’s new administrative capital. The 69-year-old former army chief will be able to carry out a third election and maintain his presidential powers until 2030 as a result of constitutional amendments that extended the length of presidential terms to six years.
In December 2023, he emerged victorious with 89.6% of the vote and no significant opposition.
Egypt is undertaking several megaprojects, including numerous new roads, the expansion of the Suez Canal, and the construction of other new cities. The largest of these projects, with a price tag of $58 billion, is the New Administrative Capital, located in the desert east of Cairo.
Key Points:
- Al-Sisi took office as president following the toppling of Mohamed Morsi, the nation’s first democratically elected leader, in 2013. Afterwards, in 2018, he was re-elected after receiving 97% of the vote in the two prior elections.
- He changed the constitution to raise the limit on the number of consecutive terms in office from two to three and increased the presidential term from four to six years.
About Abdel Fattah Al-Sisi
- After completing his training at the Egyptian Military Academy in 1977, Sisi entered the infantry. He was designated as the Director of Military Intelligence in 2010.
- In 2011, Sisi was elected as the youngest member of the Supreme Council of the Armed Forces (SCAF), an organization comprised of senior military officers that assumed control of Egypt’s governance.
- In August 2012, he was elevated to the posts of commander of the armed forces and minister of defense.
About Egypt:
- President – Abdel Fattah Al-Sisi
- Capital – Cairo
- Currency – Egyptian Pound
Click here to read from source
10) Sorin Investment Fund Chairman Sanjay Nayar takes over as ASSOCHAM President for 2024-25 (Current Affairs 4th April 2024)
The oldest apex industry chamber in India, the Associated Chambers of Commerce and Industry of India (ASSOCHAM), has elected Sanjay Nayar, its founder and chairman, to serve as its president for the 2024–2025 term. He was ASSOCHAM’s Vice President before that.
Ajay Singh, the Chairman and Managing Director (CMD) of Spicejet, was ASSOCHAM’s President from 2023 to 2024. He was succeeded by Sanjay Nayar.
About Sanjay Nayar:
- Sanjay Nayar was a member of Citigroup’s Asia Executive Operating Committee and Global Management Committee in addition to holding the position of Chief Executive Officer (CEO) of the company’s Indian and South Asian operations.
- After departing Citigroup in 2009, he started KKR India operations.
- He retired in April 2023 from KKR after holding the positions of CEO, Chairman, and Senior Advisor. Additionally, he was a member of KKR’s Asian investment and portfolio management committees.
- Additionally, he works for the Indian e-commerce company NYKAA as a Non-Executive Director.
Affiliations:
- An unofficial representative of the private sector on the Board of Trade, a significant advisory board to the Ministry of Commerce and Industry (MoCI).
- Advisor to the USA-India Strategic Partnership Forum Board of Directors (USISPF).
- A member of the Indian School of Business’s (ISB) governing board.
- Member of the Habitat for Humanity Advisory Board.
- Grameen Impact Investments India (GIII) Chairman.
- The Center for Social and Economic Progress’s founder and board member (CSEP).
About Associated Chambers of Commerce and Industry of India (ASSOCHAM):
- President– Sanjay Nayar
- Headquarters– New Delhi, Delhi
- Established in– 1920
Click here to read from source
ACQUISITIONS & MERGERS
(Current Affairs 4th April 2024)
11) CCI approvals on 2nd April 2024 (Current Affairs 4th April 2024)
On April 2, 2024, the Competition Commission of India (CCI) approved the following proposals.
- Investment in MG Motor India Private Limited shares through the IndoEdge India Fund’s Large Value Fund (LVF) plan.
- International Finance Corporation (IFC) acquires CCPS in Northern Arc Capital Limited.
- AMG India purchased 100% of Greenko ZeroC Private Limited (ZeroC) and the assets of Nagarjuna Fertilizers and Chemicals Limited (NFCL).
- Piramal Alternatives Trust purchased 10.39% of Annapurna Finance and subscribed for some of its debentures.
- Mirage Asset Capital Markets (India) Pvt. Ltd. and Mirae Asset Securities Co. Ltd., respectively, have acquired a 100% equity stake in Sharekhan Limited and Human Value Developers Pvt. Ltd.
- Subscription by India Advantage Fund S5 I, HCL Corp, Mirabilis Investment Trust, Aashil Apurva Shah, and Ansh Ashit Shah to the CCPS of Pritam International Pvt. Ltd.
- Axis Bank Limited has subscribed for 14,25,79,161 equity shares of Max Life Insurance Company Limited.
About the Competition Commission of India(CCI):
The Competition Act of 2002 established the Competition Commission of India (CCI) as a statutory body. Founded in 2003, CCI achieved full operational capacity in 2009.
- Chairperson– Ravneet Kaur
- Headquarters– New Delhi, Delhi
Click here to read from source
12) F1 owner Liberty Media acquires MotoGP owner Dorna Sports (Current Affairs 4th April 2024)
Bridgepoint and the Canada Pension Plan Investment Board (CPP Investments) have entered into an agreement for Liberty Media Corporation (Liberty Media) to purchase roughly 86% of Dorna Sports, S.L. (Dorna), the exclusive commercial and television rights holder of MotoGP (Grand Prix motorcycle racing).
Twenty-one percent are shares of Series C Liberty F1 common stock, and the remaining sixty-five percent are cash.
The deal represents an enterprise value for MotoGP of 4.2 billion euros, and an equity value of 3.5 billion euros with the current debt balance at MotoGP. Dorna management retains about 14% of its equity in the company.
The acquisition cannot close until the end of 2024 because regulators overseeing foreign investment and competition still need to approve the deal
The CEO of Dorna since 1994, Carmelo Ezpeleta, will continue to lead the company, and its headquarters will stay in Madrid, Spain.
Liberty Media, a major player in the American media industry, has taken the wheel of the Formula One Group, adding the prestigious racing series to its portfolio of businesses. This acquisition solidified Liberty Media’s position as a global leader in the world of entertainment.
Click here to read from source
SCIENCE & TECHNOLOGY
(Current Affairs 4th April 2024)
13) WHO’s unveils S.A.R.A.H, its 1st AI-Powered Digital Health Promoter (Current Affairs 4th April 2024)
The World Health Organization (WHO) unveiled S.A.R.A.H. (Smart AI Resource Assistant for Health) on April 2, 2024. AI health advisor prototype offers personalized support.
New AI health tool launched for World Health Day: My Health, My Right.
Key Points:
- A.R.A.H., or Sarah, is assisted by Soul Machines Limited’s Biological AI technology.
- Sarah offers dynamic, personalized conversations in eight languages, covering a variety of health topics, 24 hours a day, on any device. She does this by utilizing Gen-AI to improve her empathy and accuracy in real-time.
- With the goal of enabling users to maximize their journey toward health and well-being, it offers thoughtful, compassionate responses in a setting devoid of bias.
- Trained to address key health issues, such as mental and physical well-being, S.A.R.A.H. helps users comprehend risk factors for the world’s top causes of death by providing current information on issues like giving up smoking, engaging in physical activity, and maintaining a healthy diet.
Note: During the COVID-19 pandemic, the World Health Organization (WHO) employed Florence, a digital health worker, to spread important public health messages about the virus, vaccinations, tobacco use, healthy eating, and physical activity.
About World Health Organization (WHO):
- Director-General– Dr Tedros Adhanom Ghebreyesus
- Headquarters– Geneva, Switzerland
- Establishment– 1948
Click here to read from source
OBITUARY
(Current Affairs 4th April 2024)
14) Golden Globe-winning American actress Barbara Rush Passed Away (Current Affairs 4th April 2024)
Barbara Rush, a seasoned American actress, passed away in Los Angeles, California, USA, at the age of 97. On January 4, 1927, in Denver, Colorado, the United States, she was born.
1954 Golden Globe: New Star of the Year for “It Came from Outer Space”.
Films like Hombre & Robin Hoods boosted her acting career.
She also had roles in the TV shows Seventh Heaven, All My Children, and Peyton Place.
Click here to read from source
IMPORTANT DAYS
(Current Affairs 4th April 2024)
15) 260th Raising Day of the Army Medical Corps – 3rd April 2024
The Indian Army commemorated the 260th Raising Day of the Army Medical Corps (AMC) on April 3, 2024. The AMC is a specialized corps that offers medical care to all active and retired army personnel, along with their families.
AMC Raising Day celebrates the founding of the organization and pays tribute to medical professionals who heroically gave their lives serving others.
Click here to read from source
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