Current Affairs Quiz 11th April 2024 Quiz

Exp. ‘Experimental Licence Module for 100 5G Labs’ launched at IIT Madras

In a move to smoothen the processes for 100 5G Labs across academic institutions in India, one of the “Experimental Licence module for 100 5G Labs” was launched during a 5G workshop at IIT Madras.

This initiative aims to simplify the experimental licence requirements for these institutions, facilitating smoother operations and fostering innovation in the 5G domain.

The primary objective behind this initiative is to cultivate competencies and engagement in 5G technologies among students and start-up communities.

These labs will be using 5G frequency bands for carrying out various experiments.

This license is currently being issued on “Self-declaration Mode” from the Saralsanchar portal of DoT through National Single Window System (NSWS). Till date around 1500 licenses have been granted since the launch of this module on Saralsanchar portal in July 2021.

Exp. ADB raises India’s FY25 GDP growth forecast to 7%

The Asian Development Bank (ADB) has raised India’s GDP growth forecast for the current fiscal to 7 percent from 6.7 percent earlier.

ADB said, India’s robust growth will be driven by its investment in public and private sectors and an improvement in consumer demand.

For the 2025-26 fiscal, ADB has projected India’s growth at 7.2 percent.

The growth estimates for the current fiscal is lower than 7.6 percent estimated GDP expansion in 2022-23 fiscal.

In December 2023, ADB had projected the Indian economy to expand by 6.7 percent in the 2024-25 fiscal.

Updated GDP List

• ADB –7.6% (FY24), 7% (FY25), 7.2%(FY26)
• World Bank – 7.5% (FY24), 6.4% (FY25), 6.5% (FY26)
• S&P – 7.6% (FY24), 6.8% (FY25)
• CRISIL – 6.8% (FY25)
• Moody– 8% (FY24)
• Morgan Stanley – 6.8%(FY24), 6.8% (FY25)
• IMF – 6.7% (FY24), 6.5% (FY25), 6.5% (FY26)
• World Bank – 6.4% (FY25), 6.5% (FY26)
• India Ratings – 6.7% (FY24)

Exp. PhonePe partners with eSewa to promote UPI in Nepal

Fintech firm PhonePe has partnered with Nepal’s digital wallet service eSewa and the Hotel Association of Nepal (HAN) Pokhara to promote digital payments through UPI on the Himalayan country’s payment processor Fonepay Network.

The partnership is a part of the Fewa New Year Festival which will be held from April 11-14 in Nepal.

Over 3,000 merchants will participate in the festival with more than 1,00,000 visitors expected to visit. It will run on-ground activation aimed at raising awareness about digital payments among local merchants while demonstrating the convenience of digital payments for customers.

Exp. Sushil Sharma selected as CMD of SJVN

Sushil Sharma has been appointed as Chairman and Managing Director (CMD) of SJVN Limited by the Public Enterprises Selection Board (PESB).

He is currently serving as Director (Projects) at SJVN Limited (formerly Satluj Jal Vidyut Nigam).

Sharma did his B.E. (Mechanical) from VNIT, Nagpur. He has more than 30 years of rich and varied experience in various organisations including SJVN.

Recent Appointment

• As member of 16th Finance Commission – Manoj Panda
• National women’s hockey coach – Harendra Singh (replace Janneke Schopman)
• Head of committee to protect Delhi’s forests – Justice Najmi Waziri
• CEO of Wipro – Srinivas Pallia (replace Thierry Delaporte)

Exp. India ranks third with 67 unicorns:  Hurun Global Unicorn Index 2024

India ranked third on the global list of unicorns but was far behind the US and China who had 703 and 340 high growth start-ups respectively.

UK and EU ranked No 4 and No 5 in the list, respectively.

India has a total of 67 unicorns in the list, as per a report by The Hurun Research Institute, according to which drop-outs from the chart in 2023 were Byju’s and PharmEasy.

In total, there are a total of 1,453 unicorns in the world as one unicorn is made every two days over the last year.

TikTok owner ByteDance was the world’s most valuable unicorn worth $220 billion. The total value of the world’s unicorns reached $5 trillion which is equivalent to the GDP of Japan.

The fastest valuation rise of a unicorn was credited to OpenAI which saw an addition of $80 billion in value, followed by SpaceX that added $43 billion.

The most active city for unicorns outside of the US and China was London, followed by Bengaluru, Paris and Berlin.

Exp. ICICI Lombard ties up with Policybazaar to offer insurance products

ICICI Lombard General Insurance Company has partnered with Policybazaar to offer products on the platform.

The collaboration aims to provide insurance solutions to Indian consumers through Policybazaar’s reach.

The partnership grants access to nearly 10 million customers, offering insurance products including motor, health, travel, home and business insurance.

The collaboration covers business lines of the Policybazaar platform, including policybazaar.com for retail audiences, PB for Business for corporates and PB Partners for channel partners.

Recent MoUs Signed in Banking Sector

• SINE, IIT Bombay Collaborates with Canara Bank for Financing of Startups
• J&K Bank partnered with Paymart India to launch virtual ATM Facility
• SIDBI partners fintech platform KarmaLife for micro loans to gig workers
• Central Bank of India partners with Veefin Solutions to commence supply chain finance
• Ujjivan Small Finance Bank partners with Veefin Solutions for MSME growth

Exp. Simon Harris elected youngest PM of Ireland

Simon Harris was elected the youngest prime minister of the Republic of Ireland. At the age of 37, he is the youngest prime minister in Ireland

In Ireland, the prime minister is called Taoiseach. He will succeed Leo Varadkar, who resigned in March 2024.

Before him, the Indian-born prime minister Leo Varadkar was the youngest prime minister of Ireland. Leo Varadkar became prime minister at the age of 38 in 2017.

About Ireland

• Capital – Dublin
• Currency – Euro
• Continent – Europe
• President – Michael D. Higgins
• Prime Minister – Simon Harris

Newly Appointed Prime Minister & President

• President of Slovakia – Peter Pellegrini
• President of Egypt – Abdel Fattah Al-Sisi (3rd term)
• PM of Democratic Republic of Congo (DRC) – Judith Suminwa Tuluka (nation’s first female PM)
• President of Senegal – Bassirou Diomaye Faye
• Prime Minister of Portugal – Luis Montenegro

Exp. General Insurance industry grows 12.78% in FY24

The general insurance industry reported a growth of 12.78% in FY24, the pace of expansion slowing from a year before on a decline in agri insurance.

In FY23, the insurance industry had reported a growth rate exceeding 16%. However, there was a slowdown in FY24 largely due to the performance of crop insurance.

Specialised insurer AIC reported a decline of 32% in growth due to the slowdown in agriculture insurance.

Excluding specialised insurers like AIC, the industry saw a growth rate of 16.22%. The total industry premium reached Rs 2.89 lakh crore, an increase from Rs 2.56 lakh crore in the previous period.

In FY25, the industry is expected to report 15-17% growth led by the health and motor insurance sectors.

In FY24, Among public insurers, Oriental Insurance led with 17% growth, while Bajaj Allianz topped among private insurers with 33.49% growth. ICICI Lombard General Insurance maintained pace with industry growth at 17.84%

In standalone health insurance, Niva Bupa and Aditya Birla Health Insurance demonstrated significant growth rates of 37.68% and 36.23%, respectively.

Listed public sector insurance company New India Assurance grew by 7.40% during the year.

Some of the smaller players like Zuno General Insurance Company grew by 56.29%. Kotak Mahindra General Insurance Company grew by 39.95%. Go Digit General Insurance Company grew at 28.91% during the year.

New India Assurance continued to be the largest insurer with 12.78% market share, down from 13.42%.

Star Health & Allied Insurance which is the largest health insurance company in the country with 5.26% market share grew at 17.75% during the year.

Exp. USISPF appoints Tarun Bajaj to head US-India Tax Forum

The US-India Tax Forum, an US-India Strategic Partnership Forum (USISPF) initiative, has appointed Tarun Bajaj as the new head of the Forum.

Bajaj is the former Revenue Secretary and Secretary of Economic Affairs to the Government of India.

Joined USISPF as an advisor to the Board of Directors in January 2024 his appointment is a testament to his significant experience and expertise in economic affairs and taxation matters.

During his tenure with the Indian government, he managed both the direct and indirect tax revenues for the government by working towards shaping fiscal policies and promoting economic growth. He was also instrumental in stabilising the Goods and Services Tax (GST).

Recent Appointment in Foreign

• Head of US-India Tax Forum -Tarun Bajaj
• A memeber of World Bank economic advisory panel – Rakesh Mohan
• Director of Independent Evaluation Office (IEO) of World Bank’s Global Environment Facility (GEF) – Geeta Batra
• Country Director for India in ADB – Mio Oka (replace Takeo Konishi)
• US Representative on WHO Board – Vivek Murthy
• Secretary General of BIMSTEC – Indra Mani Pandey (replace Tenzin Lekphell Bhutan)

Exp. Chandrayaan 3 team of ISRO receives John L Jack Swigert Jr Award

Indian Space Research Organisation (ISRO) Chandrayaan -3 mission team was awarded the 2024 John L “Jack” Swigert, Jr, Award for Space Exploration by the US-based Space Foundation.

This award is given by the US-based non-profit organisation Space Foundation to honour a space agency, company, or consortium of organisations in the realm of space exploration and discovery.

The Indian Consul General of India in Houston, D C Manjunath, received the 2024 John L “Jack” Swigert, Jr, Award for Space Exploration Award on behalf of the ISRO’s Chandrayaan -3 team.

About John L “Jack” Swigert, Jr Award

• The John L “Jack” Swigert, Jr, Award for Space Exploration Award was instituted by the Space Foundation in 2004 in memory of John L “Jack” Swigert, Junior.
• John L “Jack” Swigert, Junior, was part of NASA’s (National Aeronautics and Space Administration) Apollo 13 Mission to the moon which had been aborted due to a leakage in its Oxygen tank.
• The Jack Swigert Award is presented annually at the Space Symposium organised by the Space Foundation.
• In 2023 NASA’s James Webb Space Telescope Team was honoured with the Jack Swigert award.

Exp. Mendis and Bouchier named ICC Players of the Month for March 2024

The International Cricket Council (ICC) has revealed the ICC Men’s and Women’s Player of the Month award winners for March 2024.

Kamindu Mendis claims the ICC Men’s Player of the Month award after his historic efforts at the crease helped Sri Lanka comfortably win the first Test in their ICC World Test Championship showdown against Bangladesh in Sylhet.

England’s Maia Bouchier won the ICC Women’s Player of the Month prize thanks to a sparkling series of scores in New Zealand as the tourists secured a statement 4-1 T20I series win in March.

ICC Men’s Player of the Month

• October 2023 – Rachin Ravindra (New Zealand)
• November 2023 – Travis Head (Australia)
• December 2023 – Pat Cummins (Australia)
• January 2024 – Shamar Joseph (West Indies)
• February 2024 — Yashasvi Jaiswal (India)

ICC Women’s Player of the Month

• October 2023 – Hayley Matthews (West Indies)
• November 2023 – Nahida Akter (Bangladesh)
• December 2023 – Deepti Sharma (India)
• January 2024 – Amy Hunter (Ireland)
• February 2024 – Annabel Sutherland (Australia)

Exp. Siddharth Rajsekar released ‘I Can Coach’ book

Bestselling author and digital coaching leader Siddharth Rajsekar has released of volumes 2 and 3 of his transformative book series, ‘I Can Coach’.

The books were launched at the Freedom Business Retreat 2024, a two-day event at the Leela Palace, Chennai, attended by over 800 trainers, coaches, and leaders from across India.

Building on the success of the first volume, “I Can Coach, Stories of Transformation,” volumes 2 and 3 showcase inspiring stories of commitment and aspiration within the digital coaching revolution.

“Stories of Commitment” highlights the journeys of coaches who achieved millionaire status and those who transformed their lives, starting from scratch.

“Stories of Aspiration” features digital coaches beginning their paths to success as Freedom Finishers through Hackathons.

Recent Books

• The Idea of Democracy – Sam Pitroda
• From A Car Shed To The Corner Room & Beyond – S Raman
• The Man Who Lot India – Meghna Pant
• Conspiracy to oust me from the Presidency – Gotabaya Rajapaksa
• The Gems of Indian Art – Harish Khullar
• Doing Business in Uncertain Times – Ramesh Nair

Exp. 11 April – World Parkinson’s Day

World Parkinson’s Day is celebrated every year on 11 April.

World Parkinson’s Disease Day aims to support people with Parkinson’s disease and their caregivers, who often face severe difficulties in managing the Parkinson’s disease’s physical, emotional, and social effects.

Parkinson’s Disease is a progressive neurodegenerative disorder that mainly targets the nervous system and affects the parts of the body controlled by nerves.

Nerve cell damage in the brain leads to decrease in Dopamine levels – this leads to Parkinson’s Disease. Some of the symptoms of Parkinson’s Disease are tremors, slow movement, stiffness and loss of balance. Parkinson’s Disease usually start slow, with tremors that are hardly visible.

In 1817, Dr. James Parkinson was the first person to discover the first case of Parkinson’s Disease. In 1997, European Association for Parkinson’s Disease announced that April 11 will be observed as World Parkinson’s Day every year. The World Health Organisation also co-sponsored the event.

Exp. 11 April – National Safe Motherhood Day

National Safe Motherhood Day is celebrated every year on April 11 in India.

The day is observed to educate the masses about the challenges faced by new mothers and to spread awareness around safe pregnancy and postpartum support.

The Government of India officially recognised the day as National Safe Motherhood Day in 2003. The day also marks the birth anniversary of Kasturba Gandhi.

Pregnancy is a life-transforming journey and maternal health during this time can impact safe and complication-free childbirth. From good nutrition to regular checkups, there are different aspects of a pregnancy that an expectant mother has to take into consideration.

Exp. R.M. Veerappan passed away

R.M. Veerappan passed away at the age of 97.

He was one of the most powerful Ministers in the Cabinet led by late Tamil Nadu Chief Minister M.G. Ramachandran in the 1980s and a close associate of the matinee-icon turned politician.

RMV, as he was called, was also a member in the ministry of the late Chief Minister Jayalalithaa, but was expelled by her in 1995 after he shared a dais with actor Rajinikanth during the success celebrations of the film Baashha.