Current Affairs 5th April 2024
Welcome to your one-stop shop for staying on top of the news! In this blog post, we’ll delve into the most important Current Affairs for April 5th, 2024. We’ll explore the latest developments across various domains, from politics and economics to science and international relations. So, buckle up and get ready for a comprehensive roundup of what’s happening in the world today.
NATIONAL AFFAIRS
1) Report on Energy Transitions to achieve India’s net-zero Targets by IIM-A Launched
A new report titled “Synchronizing Energy Transitions Toward Possible Net Zero for India: Affordable and Clean Energy for All” was launched in Delhi on April 3, 2024. Prepared by the Indian Institute of Management Ahmedabad (IIM-A) under the Indian government’s scientific advisor’s office, the report examines India’s path to achieving net-zero emissions by 2070.
Authored by a team led by Prof. Amit Garg (IIM-A) and guided by an expert group chaired by Dr. R.B. Grover, the study, which began in November 2021, prioritizes minimizing consumer electricity costs while identifying the optimal energy mix for net-zero.
The report tackles crucial questions surrounding India’s energy trajectory, future energy sources, electricity affordability, carbon footprint, investment needs, and the challenges and opportunities of reaching net-zero by 2070.
Key findings highlight the critical role of substantial nuclear and renewable energy generation. To achieve this, the electricity sector must decarbonize significantly before 2070. Additionally, the report estimates India’s emissions in 2070 to be between 0.56 and 1.0 btCO2, with remaining emissions offset by carbon capture technologies aligned with India’s national climate pledges.
The report emphasizes that phasing out coal requires active policies for securing critical minerals and carbon capture technologies. It also suggests that focusing on nuclear and renewable power, alongside widespread electrification across sectors, is the key to achieving clean and affordable electricity. This transition would significantly increase the electricity share of India’s total energy consumption, from the current 18% to 47-52%.
The report estimates the financial requirements between 2020 and 2070 to be a staggering Rs 150-200 lakh crore, highlighting the need for significant international financial support.
Click here to read from source
2) India to Build First Strategic Petroleum Reserve with Private Company by 2029-30
India, the world’s third-largest oil importer and consumer, intends to establish its first privately managed Strategic Petroleum Reserve (SPR) in 2029-30.
In 2004, the Indian government established Indian Strategic Petroleum Reserves Ltd. (ISPRL), a Special Purpose Vehicle (SPV), under the Ministry of Petroleum and Natural Gas, to maintain the country’s strategic petroleum reserves.
It has invited bids for the construction of 2.5 million tonnes of underground storage at Padur, Karnataka.
Background
- In 1998, the Atal Bihari Vajpayee cabinet proposed the establishment of Strategic Petroleum Reserves (SPR) to address the issue of energy insecurity.
- It was organized in two phases: The first phase saw ISPRL build a strategic petroleum reserve in three locations: Visakhapatnam (1.33 million tonnes) in Andhra Pradesh, Mangalore (1.5 million tonnes) in Karnataka, and Padur (2.5 million tonnes) in Karnataka. They have a total fuel storage capacity of 5.33 million metric tons (MMT).
It should be noted that the Phase-I storage facilities were built at the expense of the government.
Phase II
- In the second phase of the programme, the government creates strategic reserves through public-private partnerships in order to reduce government spending while also capitalizing on the reserves’ commercial potential.
- SPR will be built in underground unlined rock caverns, along with related above-ground facilities such as dedicated SPM and related offshore and onshore pipelines, at a cost of Rs 5,514 crores to store 2.5 million tonnes of crude oil at Padur-II.
Note that India has also decided to commercialize its SPRs. As part of this, the Abu Dhabi National Oil Company (ADNOC) stored approximately 0.8 million tonnes of crude oil in the Mangalore strategic reserve.
Click here to read from source
INTERNATIONAL AFFAIRS
3) Bernard Arnault Tops Forbes World’s Billionaires List 2024, Mukesh Ambani Tops in India
Forbes and J.P. Morgan Bank collaborated to release the 38th annual World’s Billionaires list, ‘Forbes World’s Billionaires List: The Richest in 2024,’ on April 2, 2024. Bernard Arnault (France), CEO of LVMH Moët Hennessy Louis Vuitton, topped the list with a net worth of USD 233 billion.
He is followed by Elon Musk, CEO of Tesla Motors, with a net worth of USD 195 billion, and Jeff Bezos, founder and former CEO of Amazon, with a net worth of USD 194 billion in third place.
Mukesh Ambani, the Chairman and Managing Director (CMD) of Reliance Industries Limited (RIL), who is ranked ninth globally with a net worth of USD 116 billion, has become India’s richest man. He is the only Indian to rank in the top ten.
He also became the first Asian to join the USD 100 billion club.
Gautam Adani became the second richest Indian with a net worth of USD 84 billion, followed by Shiv Nadar in third place with a net worth of USD 36.9 billion.
Note: Forbes calculated net worth using stock prices and exchange rates as of March 8, 2024.
About Forbes:
Forbes is a global media company that covers business, investing, technology, entrepreneurship, leadership, and lifestyle.
- Chief Executive Officer (CEO)– Mike Federle
- Headquarters– New Jersey, the United States of America (USA)
- Establishment– 1917
Click here to read from source
4) Romania & Bulgaria Partially Join Europe’s Schengen Travel Zone
On March 31, 2024, Romania and Bulgaria became the newest members to partially join the Schengen Area, Europe’s ID-free travel zone. This means travelers can now cross internal air and sea borders between these countries and other Schengen members without checks. This expansion brings the total number of Schengen members to 29.
Previously, both countries had successfully completed the required evaluations and met the technical requirements for full membership. However, in 2022, Austria vetoed their full accession due to migration concerns. Despite this, Croatia was allowed to join in January 2023.
The Schengen Area is a free movement zone encompassing most EU countries (except Ireland and Cyprus) along with Iceland, Liechtenstein, Norway, and Switzerland. Established in 1985, it allows passport-free travel between member states.
To address concerns about illegal migration, Romania and Bulgaria agreed to implement random security screenings at air and sea borders. Both countries are aiming for full Schengen membership by the end of 2024. Bulgaria is working to improve border security and highlight its role in European security, while Romania expects to finalize land border negotiations this year. Full membership would eliminate border controls, boosting efficiency at airports like Sofia (Bulgaria) and Otopeni (Romania) which handle a significant portion of Schengen traffic.
About Bulgaria:
- Capital– Sofia
- President– Rumen Radev
- Currency– Bulgarian lev (BGN)
About Romania:
- Capital– Bucharest
- President– Klaus Iohannis
- Currency– Romanian Leu (RON)
Click here to read from source
BANKING & FINANCE
5) PM Modi addresses RBI@90 Programme; RBI marks 90 years
Prime Minister Narendra Modi presided over the opening ceremony of RBI@90, which commemorated the Reserve Bank of India’s (RBI) 90th anniversary on April 1, 2024. The ceremony took place at the National Centre for the Performing Arts in Mumbai, Maharashtra.
- Prime Minister Narendra Modi unveiled a special Rs 90 coin to commemorate 90 years of the RBI.
- RBI was established on April 1, 1935, following the recommendation of the Hilton Young Commission (formed in 1926).
About Reserve Bank of India(RBI):
- Governor: Shaktikanta Das
- Headquarters : Mumbai, Maharashtra
- Established: 1 April, 1935
Click here to read from source
6) UPI Transactions Volume Increased by 56% in H2 2023: Worldline
According to Worldline India’s Digital Payments Report H2 2023, the volume of Unified Payments Interface (UPI) transactions in the second half (H2) of 2023 (July 2023 – December 2023) increased by 56% to 65.77 billion from 42.09 billion in H2 2022.
The value of transactions rose by 44%, from Rs 69.36 lakh crore to Rs 99.68 lakh crore.
The ATS for UPI transactions decreased by 8% to Rs 1515 from Rs 1648 in H2 2022.
Points to note:
- The payments acceptance infrastructure channels have developed between July 2022 and December 2023, Point of Sale (PoS) terminals increased by 26% to 8.56 million.
- The value of card transactions in H2 2023 was Rs 12.66 lakh crore, up 13% from H2 2022.
- Online transactions via mobile phone apps increased by 38% to 62.95 billion (H2 2023), up from 45.58 billion (H2 2022).
About Worldline:
Worldline is a multinational payment and transaction service provider.
- Chief Executive Officer(CEO)– Gilles Grapinet
- Headquarters– La Defense, France
- Established in 1972
Click here to read from source
7) Canara Bank launches Loan Products to meet Hospitalization Expenses (Current Affairs 5th April 2024)
On April 3, 2024, Canara Bank launched a suite of innovative products aimed at increasing financial inclusion and meeting healthcare needs.
Details of the New Products:
- Canara Heal: A healthcare loan product with competitive interest rates that covers hospitalization expenses in excess of insurance limits.
- Canara Angel: A customized savings account for women with unique features such as cancer care policy.
- Canara ReadyCash offers pre-approved personal loans.
- Canara MyMoney is an online loan against term deposit product.
Other Launches:
- During the event, the bank introduced i.Canara UPI 123PAY ASI, a user-friendly payment interface for easy transactions.
- Canara HRMS Mobile App for Staff: An HR (Human Resource) management solution has been launched to help staff members streamline HR processes.
- Rajesh Bansal, CEO of the Reserve Bank Innovation Hub (RBHI), has launched Canara SHG e-MONEY, a Digital Self Help Group (SHG) Initiative.
- Rajesh Bansal also exchanged a white paper on digital SHGs with K Satyanarayana Raju, Canara Bank’s Managing Director (MD) and CEO.
According to the statement, this will allow customers to receive instant digital credit in their accounts.
About Canara Bank:
Canara Bank, founded in 1906, was nationalised in 1969.
- MD & CEO– K Satyanarayana Raju
- Headquarters– Bengaluru, Karnataka
- Tagline– Together We Can
Click here to read from source
8) PhonePe & Star Health Insurance Partners to Offer ‘Star Comprehensive Insurance Policy’ (Current Affairs 5th April 2024)
PhonePe has partnered with Star Health and Allied Insurance Company Ltd. (Star Health Insurance), India’s largest retail health insurance company, to provide customers with both monthly and annual payment options.
This will allow users to purchase the ‘Star Comprehensive Insurance Policy’ on the PhonePe app, which provides coverage up to Rs 1 crore.
Star Health Insurance is India’s largest retail health insurance company, while PhonePe is one of the country’s most popular digital payment apps.
Key Features:
- Users can also make monthly payments using the Unified Payments Interface (UPI) AutoPay mandate, which includes a monthly Equated Monthly Installment (EMI) option, making health insurance more affordable.
- This comprehensive health insurance policy includes popular features such as Outpatient Department (OPD) and maternity coverage, with a sum insured of up to Rs. 1 crore.
- Coverage includes road and air ambulance expenses, OP medical consultation (up to the limits), OP coverage for dental and ophthalmic treatment, delivery expenses, organ donor expenses, newborn baby coverage, mental illnesses, and other benefits.
- Mental illnesses are covered up to the sum insured; there are no sublimits for daycare procedures.
- Accidental death and permanent total disability are covered up to Rs. 1 crore.
Purchase Process: Users can purchase the policy directly from the PhonePe app by selecting the desired coverage and payment options, entering the necessary information, and completing the Know Your Customer (KYC) form and declarations.
About Star Health and Allied Insurance Co Ltd. (Star Health Insurance):
Star Health Insurance commenced operations in 2006 as India’s first Standalone Health Insurance Company.
- Managing Director (MD) & Chief Executive Officer (CEO)– Anand Roy
- Headquarters– Chennai, Tamil Nadu
Click here to read from source
Click here to read: Current Affairs 4th April 2024
APPOINTMENTS & RESIGNATIONS
(Current Affairs 5th April 2024)
9) Shiny Wilson Nominated as a Member of Athletic Commission of Asian Athletics Association (Current Affairs 5th April 2024)
Shiny Kurisingal Abraham Wilson, a former Indian track and field athlete, has been nominated to serve on the Asian Athletics Association’s Athletic Commission for four years (2024-2028).
She was nominated for membership in a virtual meeting presided over by the Athletic Commission’s Chairman, Mohammad Suleiman (Qatar).
About Shiny Wilson:
- Shiny Wilson won the silver medal in the women’s 400m race at the 1986 Asian Games in Seoul, South Korea.In the same tournament, she won gold in the women’s 4x400m relay alongside P.T. Usha, M. D. Valsamma, and Vandana Rao.
- She won the silver medal in the women’s 4x400m relay event at the 1994 Asian Games in Hiroshima, Japan, alongside P.T. Usha, G. V. Dhanalakshmi, and Kutty Saramma.
Shiny won bronze in the women’s 800m race at the same tournament. - Shiny represented India in four Olympic Games: 1984 Los Angeles (United States of America – USA), 1988 Seoul (South Korea), 1992 Barcelona (Spain), and 1996 Atlanta (USA).
- She was the first Indian woman to carry the flag for the Indian contingent at the 1992 Barcelona Olympics.
Awards:
- In 1998, Shiny Wilson received the Padma Shri award for sports.
- She was also given the Arjuna Award in 1985.
About Asian Athletics Association:
- President – Gen.Dahlan Jaman B. Al-Hamad (Qatar)
- Headquarters – Bangkok, Thailand
- Established – 1973
Click here to read from source
10) Ousmane Sonko Appointed as the Prime Minister of Senegal (Current Affairs 5th April 2024)
Senegal President Bassirou Diomaye Faye appointed Ousmane Sonko as Prime Minister (PM) in his first act as President.
Sonko faced former President Macky Sall in the March 2024 presidential election, but he was disqualified due to a defamation conviction.
Ousmane Sonko succeeded Sidiki Kaba as prime minister. Former President Macky Sall appointed Sidiki Kaba as Prime Minister in March 2024.
Note: Bassirou Diomaye Faye was appointed President of Senegal on April 2, 2024.
Click here to read from source
11) Sheyphali B Sharan Takes Charge as Principal Director General of PIB (Current Affairs 5th April 2024)
Sheyphali B. Sharan succeeded Manish Desai as Principal Director General (PDG) of the Press Information Bureau (PIB) on April 1, 2024, after the latter retired on March 31, 2024.
Sheyphali Sharan, a 1990-batch Indian Information Service (IIS) officer, became the fifth woman to lead PIB.
She served as the Election Commission’s spokesperson during the 2019 Lok Sabha elections.
She has also worked as Director of the Ministry of Health and Family Welfare (Department of Traditional Systems of Medicine/AYUSH) from 2002 to 2007 and the Ministry of Finance (Department of Economic Affairs 2013–2017).
Click here to read from source
SCIENCE & TECHNOLOGY
(Current Affairs 5th April 2024)
12) MoHFW Launched myCGHS iOS app for CGHS Beneficiaries (Current Affairs 5th April 2024)
The Ministry of Health and Family Welfare (MoHFW) has launched the myCGHS app for iPhone Operating System (iOS) devices, which will improve healthcare accessibility for Central Government Health Scheme (CGHS) beneficiaries.
Apurva Chandra, Secretary of the Ministry of Health and Family Welfare, launched the app at an event in New Delhi.
The app is intended to improve access to Electronic Health Records, information, and resources for CGHS beneficiaries.
About MyCGHS App:
- The myCGHS app represents a watershed moment in digital healthcare service delivery within the Department of CGHS, aligning with the government’s technology-driven vision for improved healthcare quality and accessibility.
- The myCGHS iOS app was created by the technical teams at the National Informatics Centre (NIC) Himachal Pradesh and the NIC Health Team.
- This user-friendly mobile application includes features that improve information and accessibility for CGHS beneficiaries.
- The app’s services include online appointment booking and cancellation, downloading the CGHS card and index card, accessing lab reports from CGHS labs, checking the status of medical reimbursement claims and referrals, and so on.
- The app uses 2-factor authentication and mPIN functionality to protect user data integrity and confidentiality.
Note: The myCGHS app will be available for free download on both iOS and Android platforms, ushering in a new era of digital healthcare services.
About Ministry of Health and Family Welfare (MoFHW):
- Union Minister– Mansukh Mandaviya (Rajya Sabha- Gujarat)
- Minister of State– Dr. Bharati Pravin Pawar (Constituency- Dindori, Maharashtra)
Click here to read from source
13) ‘FLEX’ lunar rover successfully tested in California’s Mojave Desert by Venturi Astrolab Inc (Current Affairs 5th April 2024)
Venturi Astrolab Inc, a Los Angeles-based startup, has successfully tested a ground-breaking lunar rover prototype, the Flexible Logistics and Exploration (FLEX) rover, in California’s Mojave desert.
Key Points:
- The FLEX rover, piloted by retired Canadian astronaut Chris Hadfield and MIT aerospace graduate student Michelle Lin, demonstrated agility and capabilities, including the installation of a vertical solar array.
- It is intended for NASA’s Artemis program.
If integrated into the Artemis program, FLEX would be the first passenger-capable rover to return to the lunar surface since Apollo 17 in 1972, with efficient navigation capabilities and a cargo capacity of 3,300 pounds.
- FLEX’s solar-powered batteries ensure survival during lunar nights, which aligns with NASA’s goal of establishing a long-term lunar base and advancing space exploration missions.
Click here to read from source
14) HAL Delivers Two Dornier 228 Planes To Guyana Defence Force (Current Affairs 5th April 2024)
Hindustan Aeronautics Limited (HAL) delivers two Dornier 228 aircraft to the Guyana Defence Force (GDF) via Boeing C-17 Globemaster military transport planes at Cheddi Jagan International Airport (CJIA).
The delivery comes after Guyanese President Mohamed Irfaan Ali’s visit to a HAL facility in India over a year ago.
Dornier 228 aircraft are known for their versatility and dependability. It is suitable for a wide range of military and civilian applications, including surveillance, reconnaissance, medical evacuation, and transport operations.
Click here to read from source
IMPORTANT DAYS
(Current Affairs 5th April 2024)
15) International Day for Mine Awareness and Assistance in Mine Action 2024 – April 4 (Current Affairs 5th April 2024)
The United Nations (UN) International Day for Mine Awareness and Assistance in Mine Action is observed every year on April 4 to raise awareness and encourage the establishment and development of national mine-action capacities in affected countries.
The 19th International Day for Mine Awareness and Assistance in Mine Action takes place on April 4, 2024.
The United Nations Mine Action Service (UNMAS) leads the annual observance.
The theme for the 2024 International Day for Mine Awareness and Assistance in Mine Action is ‘Protecting Lives, Building Peace.’
Background:
- On December 8, 2005, the United Nations General Assembly (UNGA) adopted Resolution A/RES/60/97, designating April 4th as International Day for Mine Awareness and Assistance in Mine Action.
- The first International Day for Mine Awareness and Assistance in Mine Action was held on April 4, 2006.
About United Nations Mine Action Service (UNMAS):
UNMAS is based at the United Nations Headquarters in New York, United States of America.
- Director– Ilene Cohn
- Established in– 1997
Click here to read from source
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