Current Affairs Quiz 2nd April 2024 Quiz

Exp. Vedanta’s BALCO, first Indian company to be certified with ASI Performance Standard

Chhattisgarh-based Bharat Aluminium Company Limited (BALCO), a unit of Vedanta Aluminium, has emerged as the first Indian company to achieve the Aluminium Stewardship Initiative (ASI) Performance Standard V3 Certification for the manufacture and supply of a wide range of primary aluminium products at its facility in Korba.

It aims to address sustainability areas in the aluminium value chain, such as biodiversity, indigenous peoples’ rights, circularity and greenhouse gas emissions. The independent, third-party audit of Balco was carried out by CETIZION Verifica.

The ASI Certification program was developed through an extensive multi-stakeholder consultation process and is the only comprehensive voluntary sustainability standard initiative for the global aluminium value chain.

The ASI Performance Standard V3 defines 11 principles and 62 criteria under three sustainability pillars — Environment, Social, and Governance.

Exp. India and Nepal agree to promote Sanskrit research and education

Nepalese and Indian Sanskrit scholars have proposed to organize an International Sanskrit Conference every year and set up a study centre to conduct research and arrange publication of Sanskrit scriptures, especially the manuscripts found in the Himalayan nation

The prime objective of the international conference was to strengthen the Nepal-Indian relations and promote Sanskrit education in Nepal and India.

The three-day conclave organized by the Niti Anusandhan Pratisthan in collaboration with the Central Sanskrit University, Delhi, and India Foundation, Delhi, saw the participation of over 120 Sanskrit scholars, professors and government officials from both the neighbouring countries.

Recently India signed MoUs with others countries

• India & Singapore sign MoU on Law and Dispute Resolution

• India and Bhutan signed MoU in the field of Energy Efficiency and Energy Conservation Measures

• India and Dominican Republic signs protocol for establishment of Joint Economic and Trade Committee
• India and Colombia signed MoU on Cooperation in the field of Sharing Successful Digital Solutions
• India and Oman signed MoU on defence sector

Exp. Defence exports touch record Rs 21,083 crore in FY 2023-24

Defence exports have touched a record Rs 21,083 crore (approx. US$ 2.63 Billion) in the Financial Year (FY) 2023-24, a growth of 32.5% over the last fiscal when the figure was Rs 15,920 crore.

The recent figures indicate that the defence exports have grown by 31 times in the last 10 years as compared to FY 2013-14.

The defence Industry, including the private sector and Defence Public Sector Undertakings (DPSUs), have made tremendous efforts in achieving the highest-ever defence exports.

The private sector and the DPSUs have contributed about 60% and 40% respectively.

A comparative data of two decades i.e. the period from 2004-05 to 2013-14 and 2014-15 to 2023-24 reveals that there has been a growth of 21 times in the defence exports.

Total defence exports during 2004-05 to 2013-14 were Rs 4,312 crore, which has gone up to Rs 88,319 crore in the period from 2014-15 to 2023-24.

Exp. UPI ends FY24 on a high note, transactions worth ₹199 lakh crore processed

The Unified Payments Interface (UPI) is going from strength to strength. The transactions on UPI ended FY24 on a strong high both, in terms of value and volume.

In FY24, the UPI platform processed 13,115 crore transactions, aggregating to ₹199.29 lakh crore, compared to 8,376 crore transactions worth ₹139 lakh crore in FY23, a rise of almost 57% in volume and 43% in value, respectively.

According to figures from NPCI, transactions worth ₹19.78 lakh crore were processed during March 2024, higher than the previous peak of ₹18.41 lakh crore in January 2024.

The value of transactions was 40 per cent higher, compared to that in March 2023, according to data from NPCI.

The number of transactions on the UPI network rose to 1,344 crore during the month, from the January peak of 1,220 crore transactions.

Exp.  GST collection rises 11.5% to ₹1.78 lakh crore in March

India’s Gross Goods and Services Tax (GST) revenue for March 2024 reached ₹1.78 lakh crore (1,78,484 crore), the second-highest collection ever, according to the data released by the Ministry of Finance.

This surge was driven by a significant rise in GST collection from domestic transactions at 17.6%.

GST revenue net of refunds for March 2024 is ₹1.65 lakh crore which is growth of 18.4% over same period last year.

Breakdown of March 2024 Collections

• Central Goods and Services Tax (CGST): ₹34,532 crore
• State Goods and Services Tax (SGST): ₹43,746 crore
• Integrated Goods and Services Tax (IGST): ₹87,947 crore, including ₹40,322 crore collected on imported goods
• Cess: ₹12,259 crore, including ₹996 crore collected on imported goods.

Trends are observed in the entire FY 2023-24 collections

• Central Goods and Services Tax (CGST): ₹3,75,710 crore
• State Goods and Services Tax (SGST): ₹4,71,195 crore
• Integrated Goods and Services Tax (IGST): ₹10,26,790 crore, including ₹4,83,086 crore collected on imported goods
• Cess: ₹1,44,554 crore, including ₹11,915 crore collected on imported goods.

GST Collection of Previous Months

• November 2023 – 1,67,929 crore
• December 2023 – 1,64,882 crore
• January 2024 – 1,72,129 crore
• February 2024 – 1,68,337 crore

Exp. Karnataka Bank raises Rs 600 cr through qualified institutional placement

Karnataka Bank has raised around Rs 600 crore through qualified institutional placement by issuing shares to institutional investors.

The qualified institutional placement opened on March 21 and closed on March 27.

The institutions that bought shares in the QIP include HSBC Mutual Fund, Morgan Stanley Asia Singapore PTE, HSBC Global Investment Funds, SBI Life etc.

About Karnataka Bank

• Founded- 18 February 1924
• Headquarters– Mangalore, Karnataka
• MD & CEO – Srikrishnan Hari Hara Sarma
• Chairman – P Pradeep Kumar
• Tagline – Your Family Bank Across India

Exp. Credit cards breach the 100 million mark in India: RBI

In February 2024, the total number of credit cards issued by banks in India surpassed the 100 million mark, with an addition of 1.1 million cards from the previous month.

According to the latest data released by the Reserve Bank of India, the outstanding number of credit cards in the system stood at 100.60 million.  In February 2023, the total cards in circulation stood at 99.5 million.

HDFC Bank is the leader in credit card issuances, with the lender’s cards in circulation standing at 20.40 million. Other major players include SBI Card with 18.75 million cards, ICICI Bank with 16.84 million, and Axis Bank with 13.90 million.

On the other hand, the overall credit card spending among Indians has moderated to Rs 1.49 trillion from Rs 1.66 trillion in January 2024 owing to considerable decline in point of sale (PoS) and e-commerce payments.

While PoS transactions dropped to Rs 54,431.48 crore from Rs 58531.77 crore in January 2024. Meanwhile, e-commerce payments declined to Rs 0.95 trillion from Rs 1.08 trillion as the festive season came to an end.

Exp. REC wins SKOCH ESG Award 2024 in Renewable Energy Financing Category

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been bestowed with the SKOCH ESG Award 2024 in the ‘Renewable Energy Financing’ category.

The award underscores REC’s dedication to sustainable financing, paving the way for a greener future and accelerating the transition to renewable energy.

REC has emerged as a significant player in India’s clean energy transition, actively contributing to the nation’s sustainable future. Through various initiatives and achievements, REC has committed to numerous sustainable projects and signed various MOUs for green projects.

Executive Director of REC Limited – T.S.C. Bosh

Recent Awards

• International Culture Award 2024 – Meena Charanda
• Times Power Icon 2024 Award by The Times Group – Vijay Jain
• Abel Prize 2024 – Michel Talagrand (for work in probability theory and stochastic processes).
• 29th Devi Shankar Awasthi Award 2023 – Nishant (for Kavita Pathak Aalochna)
• GEEF Global Environment Award 2024 – THDC India Limited

Exp. Hardik Singh and Salima Tete named the Player of the Year for 2023

Hardik Singh and Salima Tete were named the Player of the Year for 2023 among men and women respectively at the sixth annual Hockey India awards.

With a total prize pool of ₹7.56 crores, the awards saw teams and individuals felicitated for their achievements in the past year.

Interestingly, even the 2016 Junior World Cup-winning men’s team was honoured at the event, eight years since the triumph.

The main winners

• ₹5 lakhs each: P.R. Sreejesh (Goalkeeper of the Year); Harmanpreet Singh (Defender of the Year); Hardik Singh (Midfielder of the Year); Abhishek (Forward of the Year).
• ₹10 lakhs each: Deepika Soreng (Women’s U-21 Player of the Year); Araijeet Singh Hundal (Men’s U-21 Player of the Year).
• ₹25 lakhs each: Salima Tete (Player of The Year, Women); Hardik Singh (Player of The Year, Men).
• ₹30 lakhs: Ashok Kumar (Major Dhyan Chand Lifetime Achievement Award).

Exp. Jannik Sinner clinches Men’s Single title of Miami Open Tennis

Italy’s Jannik Sinner has won the Men’s Singles title of Miami Open tournament in the United States.

Second seed Sinner defeated 11th seed Bulgarian player Grigor Dimitrov 6-3, 6-1 in the final.

Sinner’s third title of the season means he will move to a career-high second in the ATP world rankings, ahead of Spain’s Carlos Alcaraz.

Unseeded American player Danielle Collins has won the Women’s Singles title. In a major upset, Collins defeated fourth-seeded Elena Rybakina of Kazakhstan in straight sets 7-5, 6-3 in the final.

Earlier, Indian Tennis star Rohan Bopanna and his Australian partner Matthew Ebden clinched the historic Men’s doubles title.

The duo defeated Croatia’s Ivan Dodic and American Austin Krajicek 6-7, 6-3, 10-6. The 44-year-old Bopanna, became the oldest man to win an ATP Masters 1000 title and the second Indian to reach the finals of all nine ATP Masters 1000 events.

Exp. 2 April – World Autism Awareness Day

World Autism Awareness Day is celebrated every year on April 2.

World Autism Awareness Day aim to spread awareness about autism as a disorder.

Theme 2024 – Empowering Autistic Voices

Autistic spectrum disorder is a group of developmental disabilities in which children may behave, communicate, interact and learn in ways that are different from most other children.

World Autism Awareness Day was designated by a resolution passed by United Nations General Assembly on November 1, 2007, highlighting the need to raise public awareness around autism and to work actively towards empowering and accepting individuals with autism, and recognizing their contribution to the society.