Current Affairs 9th April 2024
Welcome to your one-stop shop for catching up on the most important news stories from Current Affairs 9th April 2024. This day saw significant developments on multiple fronts, from the legal landscape to environmental concerns and innovative agricultural practices.
Let’s dive right in and unpack the key happenings that made headlines on April 9th.
NATIONAL AFFAIRS
1) RECPDCL Handed Over Kallam Transco Limited SPV to Indigrid & Jalpura Khurja Power Transmission Limited SPV to Tata Power
On April 5, 2024, REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, handed over two project-specific Special Purpose Vehicles (SPVs), Kallam Transco Limited and Jalpura Khurja Power Transmission Limited, to the successful bidders.
These special purpose vehicles were formed to carry out two power transmission projects.
Key People:
Rajesh Kumar, the Chief Executive Officer (CEO) of RECPDCL, led the handover ceremony, which was also attended by senior officials from RECPDCL, REC Limited, Central Transmission Utility of India Limited (CTUIL), and Uttar Pradesh Power Transmission Corporation Limited.
SPV Details:
Kallam Transco Limited:
- The Ministry of Power (GoI) established Kallam Transco Limited as a Special Purpose Vehicle (SPV) to undertake the Western Region Network Expansion Scheme in the Kallam area of Maharashtra, which is an Interstate Transmission Project.
- After forming a special purpose vehicle (SPV) to construct the 400/220 kV substations and associated lines in Uttar Pradesh, RECPDCL, acting as the Bid Process Coordinator, conducted a tariff-based bidding process.
- Subsequently, upon successful completion of the bidding process, the SPV was transferred to M/s The Tata Power Company Limited, awarding them the project.
- This intra-state project, initiated by the Uttar Pradesh government, involved constructing a 400/220 kV, 2×500 MVA Gas Insulated Switchgear (GIS) substation at both Metro Depot (Greater Noida) and Jalpura.
About REC Power Development and Consultancy Limited (RECPDCL)
RECPDCL was formerly known as REC Power Distribution Company Limited.
- Chairman– Vivek Kumar Dewangan
- Incorporated in 2007
- Headquarters– Gurugram, Haryana
Click here to read from source
2) India sets the target to produce 100GW by 2047: AEC Chairman
AK Mohanty, Chairman of the Atomic Energy Commission (AEC), stated on the sidelines of the launch of the report titled “Synchronizing energy transitions towards possible Net-Zero for India: Affordable and Clean Energy for All” that India aims to produce 100 GigaWatt (GW) of nuclear power by 2047.
- In 2070, India’s emissions would be between 0.56 billion and 1.0 billion tonnes of carbon dioxide (btCO2).
- During 2020-2070, the government needs financial funding of about Rs 150-200 lakh crore, i.e. USD 40-50 billion annually.
About Atomic Energy Commission (AEC) of India:
- Chairman: Ajit Kumar Mohanty
- Headquarters: Mumbai, Maharashtra
- Established: 1948
Click here to read from source
3) GoI to develop Plant for recycling LIBs & E-waste in Uttarakhand
The Technology Development Board (TDB), under the Department of Science and Technology (DST), Ministry of Science and Technology (MoST), Government of India (GoI), has signed an agreement with Remine India Private Limited to build a commercial plant in Sitarganj, Uttarakhand, to recycle lithium-ion (Li-ion) batteries (LIBs) and e-waste using indigenous technology. The total project cost is Rs 15 crore.
The new recycling facility will be built at Eldeco in the State Infrastructure & Industrial Development Corporation Uttarakhand Ltd. (SIIDCUL) Industrial Area in Sitarganj, Udham Singh Nagar district.
Project Overview:
- The agreement commits TDB to providing Rs 7.5 crore in financial assistance from the total project cost.
- This aims to improve circularity and reduce India’s reliance on imported critical minerals.
- The Centre for Materials for Electronics Technology (CMET) in Hyderabad, Telangana, has developed an indigenous technology for recycling Li-ion batteries efficiently. This will be an important source of secondary raw materials for cell manufacturing in India.
- Approximately 78% of e-waste is not collected in India. E-waste is the secondary raw material for gold, silver, copper, and rare earth elements.
Points to note:
- The increasing imports of e-waste, particularly from spent LIBs, highlight the importance of recycling initiatives in addressing environmental and safety concerns.
- The disposal of LIBs via landfill and incineration poses environmental and safety risks.
- TDB support will enable informal recyclers to collaborate with formal recyclers, thereby promoting a circular economy.
- The LIB recycling market is expected to reach USD 14.89 billion by 2030, representing a Compound Annual Growth Rate (CAGR) of 21.6%, up from USD 3.79 billion in 2021.
- Despite growth, only 5% of LIBs are recycled, with the remaining 95% ending up in landfills.
India is currently the world’s third-largest generator of e-waste.
About Uttarakhand:
- Chief Minister– Pushkar Singh Dhami
- Governor– Lt Gen Gurmit Singh
- National Parks– Nanda Devi National Park, Valley of Flowers National Park
- Wildlife Sanctuaries– Govind Wildlife Sanctuary (Govind Pashu Vihar), Kedarnath
- Wildlife Sanctuary (Kedarnath Musk Deer Sanctuary)
Click here to read from source
4) Central Coalfields Limited Unveils New Logo
Central Coalfields Limited (CCL) has unveiled its official new logo, which includes the tagline “Fuelling Sustainable Growth.”
CCL, formerly the National Coal Development Corporation Ltd., is a Category-I Mini-Ratna Central Public Sector Undertaking (CPSU) based in Ranchi, Jharkhand.
CCL is one of Coal India Limited’s eleven fully-owned subsidiary companies.
Note: CCL produced 86.1 million tonnes (MT) of coal during the fiscal year 2023-24.
Click here to read from source
INTERNATIONAL AFFAIRS
5) Zimbabwe Launches New Gold-Backed Currency “ZiG”; Replaces Zimbabwe dollars
The Reserve Bank of Zimbabwe (RBZ) has launched a new currency called “Zimbabwe Gold (ZiG)” that is backed by gold and foreign currencies to replace its local currency, Zimbabwe dollars (ZW$)- Real Time Gross Settlement (RTGS) dollar.
Key Points:
- RBZ has notified banks that current Zimbabwe dollar balances should be converted to ZiG beginning April 5, 2024.
- The ZiG notes and coins will begin circulating in the economy on April 30, 2024.
- Banks will continue to accept ZW$ deposits for 21 days after April 5, 2024.
About Zimbabwe Gold:
- ZiG is backed by a basket of foreign currencies and precious metals, primarily gold.
- ZiG’s initial exchange rate is set at 13.56 ZiG per US dollar.
- The new ZiG notes and coins will be issued in the following denominations: 1 ZiG, 2 ZiG, 5 ZiG, 10 ZiG, 20 ZiG, 50 ZiG, 100 ZiG, and 200 ZiG.
Points to note:
- Zimbabwe adopted the US dollar in 2009 to combat hyperinflation.
- In 2019, Zimbabwe adopted the New Zimbabwe dollar (Real Time Gross Settlement (RTGS) dollar).
- The RTGS dollar had lost three-quarters of its value by 2024. In 2023, the currency’s value against the US dollar has dropped by nearly 100 percent.
About Zimbabwe:
- President- Emmerson Mnangagwa
- Capital- Harare
- Currency- Zimbabwe Gold (ZiG)
Click here to read from source
BANKING & FINANCE
6) SIDBI & Onionlife Partners to Provide Micro-Loans to Gig Workers
The Small Industries Development Bank of India (SIDBI) has partnered with Bengaluru-based fintech startup Onionlife Private Limited to use its technology platform KarmaLife in a pilot to provide micro-loans to gig workers.
This will help increase financial inclusion in India’s gig economy.
Note: KarmaLife, powered by Onionlife, is India’s largest Earned Wage Access platform.
Gig Workers: Gig workers earn money through short-term jobs rather than traditional, permanent employment. They are often freelancers or independent contractors in the service industry.
Key Points:
- KarmaLife platform will allow gig workers to access micro-loans via a mobile app, reducing paperwork.
- This will help gig workers manage the liquidity needs of their business activities and assess their credit risk, thereby promoting financial inclusion.
- This partnership will assist the bank in understanding and assisting the new and emerging enterprise class of gig workers, as well as developing a credit risk assessment mechanism.
- KarmaLife follows a B2B2C (Business-to-Business-to-Consumer) model and has partnered with major organisations to provide employees with early access to pay-outs.
Note: India’s gig economy is rapidly expanding, and there is an urgent need to provide affordable financial support to non-salaried gig workers who rely on gig platform aggregators for a living.
About Small Industries Development Bank of India (SIDBI):
- Chairman and Managing Director– Sivasubramanian Ramann
- Headquarters– Lucknow, Uttar Pradesh
- Establishment– 1990
Click here to read from source
7) Tata Mutual Fund Introduces 6 Index Funds, 3 are Industry-First
Tata Mutual Fund/Tata Asset Management Private Limited launched six index funds on April 8, 2024, offering a new investment opportunity with a minimum investment of Rs 5,000 for the New Fund Offer (NFO) period, which runs from April 8 to April 22, 2024.
Key Points:
- New index funds include Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund, and Tata Nifty Financial Services Index Fund.
- The remaining three are industry-first: Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty 500 Multicap India Manufacturing 50:30:20 Index Fund, and Tata Nifty 500 Multicap 50:30:20 Infrastructure Index Fund.
- Tata Mutual Fund collaborated on the benchmarks with Nifty Indices, an index provider and subsidiary of the National Stock Exchange of India (NSE India).
About Index Funds:
- Tata Nifty MidSmall Healthcare Index Fund: Tracks mid-cap and small-cap healthcare stocks, including up to 30 from the Nifty MidSmallcap 400 index, including Max Healthcare Institute and Lupin.
- Tata Nifty 500 Multicap India Manufacturing 50:30:20 Index Fund: Follows large-cap, mid-cap, and small-cap stocks in the Nifty 500 index that represent the manufacturing theme, with a fixed weightage distribution.
- Tata Nifty 500 Multicap 50:30:20 Infrastructure Index Fund: Tracks 75 large-cap, mid-cap, and small-cap stocks in the infrastructure theme from the Nifty 500, each with a fixed weightage.
- Tata Nifty Auto Index Fund: This fund is intended to reflect the behavior and performance of the automobile industry, which includes car, motorcycle, and heavy vehicle manufacturers, as well as auto ancillaries.
- Tata Nifty Realty Index Fund: An open-ended scheme that replicates the Nifty Realty Index and is suitable for long-term capital appreciation.
- Tata Nifty Financial Services Fund: an open-ended scheme that tracks the Nifty Financial Services Index and benchmarks it against the NIFTY Financial Services Index (TRI). It is built with a maximum of 20 stocks, has strict limits on single stock weight, which cannot exceed 33% of the total weight, and limits the cumulative weight of the top three stocks to no more than 62%.
About Tata Mutual Fund (Tata Asset Management Private Limited):
- Chairman– Rajiv Sabharwal
- Headquarters– Mumbai, Maharashtra
- Established in – 1994
Click here to read from source
8) Canara Bank and SINE of IIT Bombay Partners to Empower Start-ups Across India
Canara Bank and the Society for Innovation and Entrepreneurship (SINE) at the Indian Institute of Technology (IIT) Bombay in Mumbai (Maharashtra) have collaborated to support startups across India.
The Canara Bank Start-Up Scheme will provide financial assistance with an attractive return on investment (ROI) for establishment, promotion, and modernization.
SINE, founded in 2004 as an umbrella organization at IIT Bombay, functions as a tech incubator and provides end-to-end support to startups, ensuring their success.
Click here to read from source
9) AMSL Signed Agreements with IFC To Raise Funds worth Rs 330 Crores
Artemis Medicare Services Limited (AMSL) has signed a definitive agreement with the International Finance Corporation (IFC), a member of the World Bank Group, to raise Rs 330 crores through Compulsorily Convertible Debentures (CCDs).
The IFC’s investment will help AMSL improve healthcare accessibility and quality by funding its bed capacity expansion plans, introducing newer medical treatment specialties, and constructing cardiac care centers in Tier 2 and 3 cities.
This will also encourage women to pursue careers in medicine and further their professional development.
Note: AMSL, founded in 2004 by the Apollo Tyres Group promoters, operates Artemis Hospitals, a multi-specialty hospital in Gurugram, Haryana.
Click here to read from source
Click here to read: 7th & 8th April 2024
APPOINTMENTS & RESIGNATIONS
(Current Affairs 9th April 2024)
10) Peter Pellegrini Set to Become the New President of Slovak Republic (Current Affairs 9th April 2024)
Peter Pellegrini, Slovakia’s former Prime Minister (PM), is set to become President of the Slovak Republic. In the 2024 Slovakia presidential election, he won with 53% of the vote over former diplomat Ivan Korčok.
Pellegrini will succeed Zuzana Caputov, Slovakia’s first female president.
He will be inaugurated as Slovakia’s sixth president on June 15, 2024.
About Peter Pellegrini:
- Peter Pellegrini is the chairman of the Social Democracy Party (HLAS). He established the Voice – Social Democracy in 2020. Previously, he was a member of Direction – Social Democracy.
- He served as Slovakia’s Prime Minister from 2018 to 2020, as well as Minister of Health from December 2019 to March 2020.
- He also served as Slovakia’s deputy prime minister from 2016 to 2018 and Minister of Education and Science in 2014.
- He also served as National Council Speaker from 2014 to 2016. Pellegrini is in a coalition with Smer Prime Minister Robert Fico and the far-right Slovak National Party (SNS).
About Slovak Republic (Slovakia):
- Prime Minister– Robert Fico
- Capital– Bratislava
- Currency– Euro
Click here to read from source
11) Paris Olympics: Bilquis Mir Becomes First Woman To Represent India as Jury Member (Current Affairs 9th April 2024)
Bilquis Mir, a water sports promoter and athlete (canoeist) from Jammu and Kashmir (J&K), will accordingly be serving as a jury member at the 2024 Summer Olympics, which will be held in Paris, France, from July 26 to August 11, 2024. This marks her place in history as the first woman from India to hold this prestigious role at the Olympic Games.
The Indian Kayaking and Canoeing Association nominated Bilquis as a jury member.
She qualified as a jury member in 2008 for her outstanding conduct and performance at major sporting events, including the Asian Games 2023 in Hangzhou, China.
Click here to read from source
SCIENCE & TECHNOLOGY
(Current Affairs 9th April 2024)
12) Bandwagon-1: SpaceX Launches First Rideshare Mission (Current Affairs 9th April 2024)
Space Exploration Technologies Corporation (SpaceX) launched the ‘Bandwagon-1’, the first rideshare mission to low-Earth orbit at an inclination of about 45 degrees, on April 7, 2024, using a Falcon 9 rocket from the National Aeronautics and Space Administration (NASA) Kennedy Space Center in Florida, United States of America.
Key Points
- Bandwagon-1 carries eleven satellites, including KOREA’s 425Sat, HawkEye 360’s Clusters 8 and 9, Tyvak International’s CENTAURI-6, iQPS’s QPS-Synthetic Aperture Radar (SAR)-7 TSUKUYOMI-II, Capella Space’s Capella-14, and Tata Advanced Systems Limited’s TSAT-1A.
- The Bandwagon-1 launch vehicle carried eleven satellites, but the one designed for South Korea’s military under the “425 Project” most likely held the distinction of being the largest.
- In December 2023, a Falcon 9 rocket successfully launched the very first 425 Project satellite, a single spacecraft equipped with both optical and infrared surveillance capabilities.
About Falcon 9 rocket
It is the world’s first orbital-class reusable rocket, designed and manufactured by SpaceX to aid in safe transportation and cost reduction for space programs.
Note: India has identified the development of reusable rockets as one of its Decade goals (2021-30).
About Space Exploration Technologies Corporation (SpaceX)
- President & Chief Operating Officer (COO) – Gwynne Shotwell
- Founder, Chief Executive Officer (CEO) & Chief Technology Officer (CTO) – Elon Musk
- Headquarters – Hawthorne, California, USA
- Founded in – 2002
Click here to read from source
SPORTS
(Current Affairs 9th April 2024)
13) Red Bull’s Max Verstappen Wins Japanese Grand Prix 2024 (Current Affairs 9th April 2024)
Belgian-Dutch driver Max Verstappen of Red Bull won the Formula 1 (F1) Japanese Grand Prix (GP) 2024, which took place at the Suzuka International Racing Course in Suzuka, Japan, from April 5 to 7, 2024.
Red Bull’s Sergio Perez (Mexico) and Ferrari’s Carlos Sainz Jr. (Spain) finished second and third, respectively.
Winners of Japanese GP 2024:
| Position | Driver | Team |
| 1 | Max Verstappen | Red Bull |
| 2 | Sergio Perez | Red Bull |
| 3 | Carlos Sainz Jr. | Ferrari |
Highlights of Japanese GP:
- Max Verstappen wins his third Japanese Grand Prix title, following victories in 2022 and 2023.
- He was the second person to win three consecutive Japanese Grand Prix titles, following Germany’s Michael Schumacher (retired with Ferrari) in 2000, 2001, and 2002.
- The Japanese GP 2024 title is Verstappen’s third of the 2024 season. He has previously won the Saudi Grand Prix 2024 and the Bahrain Grand Prix 2024.
- This is Verstappen’s 57th win and 101st podium finish in his racing career.
Key Points:
- As of April 8, 2024, the Red Bull Racing-Honda racing team leads the 2024 Constructors’ Championship standings with 141 points, followed by Ferrari (120 points) in second and McLaren Mercedes (69 points) in third.
- The constructors’ standing represents the points earned by each team’s top two drivers in each Grand Prix.
About Japanese GP:
The Japanese GP 2024, officially known as the ‘Formula 1 (F1) MSC Cruises Japanese Grand Prix 2024’, was the 38th edition since the first in 1976.
Click here to read from source
OBITUARY
(Current Affairs 9th April 2024)
14) Former Irish footballer & India Coach Joe Kinnear Passed Away (Current Affairs 9th April 2024)
Former Irish footballer and manager Joseph Patrick Kinnear (Joe Kinnear), who was the head coach of the Indian National Men’s Football Team in 1983, died at the age of 77. He was born on December 27, 1946, in Dublin, Ireland.
About Joe Kinner:
- Joe Kinner began his professional career in 1965 with Tottenham Hotspur Football Club (FC), where he made approximately 250 appearances.He won the 1966-67 Football Association (FA) Challenge Cup, the 1971-72 UEFA Cup (now known as the UEFA (Union of European Football Associations) Europa League), and the League Cup in 1971 and 1973 while playing for Tottenham.
- He joined Brighton & Hove Albion FC in 1975, following a successful 12 years at Tottenham.
- His coaching career began after he retired in 1977. He has coached the UAE clubs Sharjah and Al-Shabab.
- In addition to India, he managed the Nepalese football team.
- He was the manager of Wimbledon Football Club (FC) from 1992 to 1999, Nottingham Forest in 2004 and Newcastle United FC from 2008 to 2009.
- He also served as Newcastle United’s Director of Football from 2013 to 2014.
Click here to read from source
IMPORTANT DAYS
(Current Affairs 9th April 2024)
15) International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda 2024 – April 7 (Current Affairs 9th April 2024)
The United Nations (UN) International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda is observed every year on April 7th to honor the memory of the victims who died during the genocide.
The Day serves as a reminder of the enormous loss suffered by the Tutsi people, as well as Hutus and others who opposed the genocide.
The 7th of April 2024 marks the 30th anniversary of Rwanda’s 1994 genocide against Tutsis.
Background:
- On December 23, 2003, the UN General Assembly (UNGA) adopted Resolution A/RES/58/234, designating April 7th of each year as the International Day of Reflection on the Genocide in Rwanda.
- On April 7, 2004, the first International Day of Reflection on the Genocide in Rwanda was observed, commemorating the tenth anniversary of Rwanda’s 1994 genocide.
- On January 26, 2018, the UN General Assembly adopted a draft resolution A/72/L.31 designating April 7th as the International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda.
Click here to read from source
16) World Health Day 2024 – April 7 (Current Affairs 9th April 2024)
The United Nations (UN) World Health Day is an annual global health awareness day observed on April 7 to draw attention to a specific health issue that people around the world are concerned about.
The World Health Day celebration aimed to raise awareness of a specific health theme, highlighting a priority area of concern for the World Health Organization (WHO).
The 76th anniversary of the World Health Organization’s founding in 1948 is April 7, 2024.
- The theme of World Health Day 2024 is ‘My Health, My Right’.
- NMC and NTF launch the “My Health, My Rights” initiative for medical students and professionals.
About World Health Organisation (WHO):
- Director General– Dr Tedros Adhanom Ghebreyesus
- Headquarters– Geneva, Switzerland
- Established in– 7 April 1948
Click here to read from source
17) Prevention of Blindness Week 2024 – April 1 – 7 (Current Affairs 9th April 2024)
Each year, to raise awareness about the causes of blindness and emphasize the importance of healthy habits and regular eye exams in reducing eye disease risk, India observes Prevention of Blindness Week from April 1st to 7th. This year, Prevention of Blindness Week ran from April 1st to 7th, 2024.
The National Society for the Prevention of Blindness (NSPB)-India organizes the annual Prevention of Blindness Week.
Significance:
- The observance aims to educate people about various eye injuries, visual impairments, effective preventive measures, treatment options, and potential cures.
- The leading causes of vision impairment and blindness are refractive errors, cataracts, diabetic retinopathy, and glaucoma.
Click here to read from source
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