Current Affairs Today 13th and 14th April 2024 Daily GK Update

Daily Current Affairs 13th and 14th April 2024 Daily GK Update

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National News

Defence Ministry issues 65,000cr tender to HAL for buying 97 LCA Mark 1A Fighter Jets

  • The Defence Ministry has issued a tender to the public sector firm Hindustan Aeronautics Limited for purchasing made-in-India 97 LCA Mark 1A fighter jets expected to be worth over Rs 65,000 crore.
  • This is set to be the largest order for indigenous military hardware to be placed by the Indian government ever.
  • The programme will help the IAF to replace its fleet of MiG- 21s, MiG-23s and MiG-27s which have been either phased out or are set to be phased out or are set to be phased out in near future.
  • The last order for LCA Mark1A was for 83 aircraft and the first plane is poised to be delivered in a few weeks from now. LCA Mark 1A is the advanced version of Tejas aircraft.
  • The LCA Mark 1A plane has more advanced avionics and radars than the initial 40 LCAs being supplied to the Air Force.
  • The HAL is also set to bag deals for buying over 200 LCA Mark 2s and similar number of fifth generation Advanced Medium Combat Aircraft.

Banking and Financial

Moody’s projects India’s GDP growth at 6.1% in 2024-25

  • Moody’s Analytics has projected a slight uptick in the Indian economy’s growth for calendar year 2024 to 6.1 per cent from 6 per cent in March this year.
  • India’s Gross Domestic Product (GDP) to grow 6.1 per cent in 2024 after 7.7 per cent last year.
  • Earlier this month, the Reserve Bank of India (RBI) stated that uncertainties in food prices continue to influence the inflation outlook. It maintained its retail inflation projection for the current fiscal year 2024-25 at 4.5 per cent.
  • The Moody’s report also said that while China and Japan are held back by weak domestic demand, the performance of India and ASEAN economies is flattered by a delayed post-pandemic rebound.

Updated GDP List

  • Moody’s Analytics – 6.1% (FY24)
  • 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)
  • 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)

BharatPe to launch ZeroPe app

  • BharatPe co-founder and former Managing Director Ashneer Grover will launch a new app called ‘ZeroPe’, an app designed for medical loans.
  • ZeroPe, currently in its testing phase, has been developed by Third Unicorn, according to its Google Playstore listing.
  • The ZeroPe app is set to provide instant pre-approved medical loans of up to Rs 500,000 in collaboration with Delhi-based Non-Banking Financial Company (NBFC) Mukut Finvest. The service is exclusively available at partnered hospitals.
  • Grover’s entry into this arena adds to a growing trend, with businesses like SaveIn, Qube Health, Arogya Finance, Neodocs, Fibe, Kenko, and Mykare Health already offering instant financing solutions for medical bills and elective treatments.

Recent Facilities Launched in Banking & Insurance Sector

  • Bandhan Mutual Fund launched Bandhan Innovation Fund
  • Canara Bank unveiled a series of new products Canara UPI 123PAY ASI, Canara HRMS Mobile App for Staff, Canara Angel, Canara Heal
  • Tata AIA unveils payment solution system on WhatsApp
  • Axis Bank launches Digital US Dollar Fixed Deposits for NRIs at GIFT City
  • Federal Bank launched a RuPay smart key chain called ‘Flash Pay’ for contactless NCMC payments

At 4.85%, retail inflation falls to 10-month low in March

  • Despite high food prices, retail inflation based on Consumer Price Index (CPI) declined to a 10-month low of 4.85 per cent in March as against 5.09 per cent in February, data released by National Statistical Office (NSO).
  • Food prices are expected to remain volatile in the coming months which could impact the headline number.
  • Meanwhile, industrial growth based on the Index of Industrial Production rose to a four-month high in February, to 5.7 per cent, against 4.1 per cent in January.

Previous Months CPI-based Retail inflation

  • November 2023 – 5.55%
  • December 2023 – 5.69%
  • January 2024 – 5.10%
  • February 2024 – 5.09%
  • March 2024 – 4.85%

Japan-based MUFG to acquire 20% stake in HDFC Bank’s non-banking arm

  • The Bank of Tokyo-Mitsubishi UFJ (MUFG) will to acquire a 20 per cent stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank, at a valuation of $9-10 billion.
  • HDFC Bank, the country’s largest private lender, currently owns around 95 per cent of HDB Financial Services, with the remaining 5 per cent held by employees under an Employee Stock Ownership Plan (ESOP).
  • The acquisition will be executed at a valuation of around five times the book value of HDB Financial Services. HDB Financial Services is expected to fetch a valuation in the range of USD 9 billion to USD 12 billion (₹75,000 crore to ₹1 lakh crore) during its upcoming initial public offering (IPO)

Appointment

India’s Jagjit Pavadia re-elected to International Narcotics Control Board

  • A former Indian Revenue Service (IRS) officer, Jagjit Pavadia has been re-elected to the Vienna-based International Narcotics Control Board (INCB).
  • India scored the highest number of votes among all the elected members of the anti-narcotics body.
  • Pavadia (70), who has already served as President of the Board from 2021 to 2022, has been re-elected for the term 2025-2030.
  • Pavadia held several senior positions in the Indian Revenue Service for 35 years.
  • She has been a member of the INCB since 2015, and also held the posts of Second Vice-President and Chair (2015, 2017 and 2020), Vice-Chair (2018) and member (2019 and 2023) of the Standing Committee on Estimates.
  • In 2016, she served as the First Vice-President of the Board, and then President from 2021-2022.

About International Narcotics Control Board (INCB)

  • INCB was set up in 1968 by the Single Convention on Narcotic Drugs of 1961.
  • Headquarters – Vienna, Austria
  • INCB has 13 members elected by the Economic and Social Council for a period of five years.
  • 10 members are elected from a list of government nominees.
  • The other 3 members are experts in medical, pharmacological, or pharmaceutical experience from a list nominated by WHO.
  • INCB basically cooperates with the world governments to ensure that adequate supplies of drugs are available for medical and scientific uses.

Former Pakistan PM Yousuf Raza Gillani elected Senate Chairman

  • Senior Pakistan Peoples Party leader and former prime minister Yusuf Raza Gilani was elected unopposed as chairman of the Senate amidst protest from lawmakers from jailed former prime minister Imran Khan’s party.
  • Saidal Khan Nasir of the ruling Pakistan Muslim League-Nawaz (PML-N) was elected as the deputy chairman.
  • No one had filed nomination papers against the two candidates supported by the ruling alliance led by the PML-N.
  • The Senate is the upper house of Pakistan’s bicameral Parliament. The senators are elected for six-and-a-half-year with half of the house up for election every three years. They are elected by the provincial and National Assemblies.

Recent Appointment in Foreign

  • Head of US-India Tax Forum -Tarun Bajaj
  • A member 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

Mary Kom steps down as Chef-de-Mission for Paris Olympics

  • Olympic bronze medalist and six times World champion boxer C. Mary Kom stepped down as the Chef-de-Mission for the Indian contingent at the Paris Olympics citing “personal reasons”.
  • Mary, who is also the chairperson of the IOA’s Athletes Commission, was named as the Chef-de-Mission in March 2024.
  • In March 2024, Mary was chosen as the chef de mission, winter Olympian Shiva Keshavan was named her deputy.

Sachidananda Mohanty appointed as member of UGC

  • Sachidananda Mohanty has been appointed as Member, University Grants Commission (UGC) for three years with immediate effect.
  • Mohanty is the former Professor and Head of the Department of English, University of Hyderabad and former Vice­ Chancellor of Central University of Odisha.
  • Winner of many national and international awards such as the Katha, British Council, Fulbright(twice), Charles Wallace and the Salzburg, he has published extensively in the field of British, American, gender, translation and post-colonial studies.
  • His books have appeared in Oxford, Sage, Routledge and Orient Ĺongman, among other notable publishing houses.
  • He was a member of India’s Education Commission to the UNESCO and Governing Board member of Auroville Foundation.

About University Grants Commission (UGC)

  • UGC is a statutory body set up by the Department of Higher Education, Ministry of Education, Government of India.
  • It is charged with coordination, determination and maintenance of standards of higher education in India.
  • A proposal to replace it with another new regulatory body called HECI is under consideration by the Govt of India.
  • Founded- 1956
  • Headquarters – New Delhi
  • Chairman- M Jagadesh Kumar

Anurag Kumar (IPS) appointed as Joint Director in CBI

  • Senior IPS officer Anurag Kumar has been appointed as the Joint Director in Central Bureau of Investigation (CBI).
  • Kumar, a 2004 batch Indian Police Service (IPS) officer of Assam-Meghalaya cadre, is currently working in the Bureau of Police Research and Development (BPR&D).
  • The Appointments Committee of the Cabinet has approved his appointment as the Joint Director (JD) in the CBI for a tenure upto February 24, 2027.

Recent Appointment in Defence Sector

  • Inspector General in SPG – Love Kumar
  • DG of National Investigation Agency (NIA) -Sadanand Vasant Date (replace Dinkar Gupta)
  • DG of Bureau of Police Research & Development – Rajeev Kumar Sharma (replace Balaji Srivastava)
  • DG of National Disaster Response Force (NDRF) – Piyush Anand (Atul Karwal)
  • Additional DG of Special Protection Group (SPG) – S Suresh

Awards

Lokesh Muni honoured with American President’s Volunteer Award 2024

  • Jain Acharya Lokesh Muni has become the first Indian monk to be honoured with the American President’s Gold Volunteer Service award in recognition of his contribution to the public good and humanity.
  • Acharya Lokesh Muni is the founder of a non-governmental organisation, Ahimsa Vishwa Bharat and the World Peace Center in India.
  • Jain Acharya Lokesh received the Presidential award, a Certificate of Honour, a Golden Shield, and a citation bearing the signature of American President Joe Biden.

American President’s Volunteer Service Award

  • The American President’s Volunteer Service Award was established in 2003 during George Bush’s Presidency.
  • The award is given to individuals who have provided at least 500 hours of voluntary service in the United States and whose voluntary work has positively impacted communities and inspired those around them.

Recent Awards

  • John Dirks Canada Gairdner Global Health Award 2024 -Dr Gagandeep Kang
  • John L “Jack” Swigert, Jr Award 2024 – ISRO (for Chandrayaan -3)
  • Best Scientific Poster Award’ 2024 – Dr. Agarwal’s Eye Hospital
  • “Medal of Honour” at Consular Day 2024 – Neeraj A Sharma
  • “On The Spot Unit Citation” for anti-piracy ops by Navy Chief – INS Sharda

Science

Pilot Gopi Thotakura becomes first Indian space tourist to fly with Blue Origin

  • Gopi Thotakura, an entrepreneur and a pilot, is set to become the first Indian to venture into space as a tourist on Amazon founder Jeff Bezos’s Blue Origin’s NS-25 mission.
  • Thotakura was selected as one of the six crew members for the mission, making him the first Indian space tourist and the second Indian to venture into space after the Indian Army’s Wing Commander Rakesh Sharma in 1984.
  • Gopi Thotakura, an entrepreneur and a pilot, is set to become the first Indian to venture into space as a tourist on Amazon founder Jeff Bezos’s Blue Origin’s NS-25 mission.
  • Thotakura was selected as one of the six crew members for the mission, making him the first Indian space tourist and the second Indian to venture into space after the Indian Army’s Wing Commander Rakesh Sharma in 1984.
  • Other crew members of the flight include Mason Angel, Sylvain Chiron, Kenneth L. Hess, Carol Schaller, and former Air Force Captain Ed Dwight, who was selected by President John F Kennedy in 1961 as the nation’s first Black astronaut candidate but was never granted the opportunity to fly to space.
  • This mission will be the seventh human flight for the New Shepard programme and the 25th in its history.
  • To date, the programme has flown 31 humans above the Karman line, the proposed conventional boundary between Earth’s atmosphere and outer space.
  • New Shepard is a fully reusable sub-orbital launch vehicle developed for space tourism by Blue Origin.
  • Andhra Pradesh-born Thotakura is a graduate of Embry-Riddle Aeronautical University.

Defence

‘Dustlik 2024’ joint military exercise between India and Uzbekistan

  • The 5th edition of the ‘Dustlik’ joint military exercise between India and Uzbekistan begins in Uzbekistan.
  • The 14-day exercise will be conducted in Termez District of Uzbekistan from 15 to 28 April 2024.
  • During the 14-day exercise, soldiers from the Indian Armed Forces and the Armed Forces of Uzbekistan will undergo comprehensive joint training sessions.
  • The fourth edition of the joint military exercise between the two countries was held on February 20 last year at the Foreign Training Node, Pithoragarh in Uttarakhand. The training exercise focused on sharing best practices in subconventional operations under UN mandates.
  • The inaugural edition of this exercise was held in Uzbekistan in November 2019.

Recent Exercise

  • Coastal Security Exercise ‘Sagar Kavach’ – Lakshadweep Islands
  • 2nd edition of India-Mozambique-Tanzania Trilateral Exercise (IMT TRILAT 24) – Nacala, Mozambique.
  • Exercise “TIGER TRIUMPH 2024” between India and USA – Eastern Seaboard
  • 10th edition of Military Exercise LAMITIYE-2024 between India and Seychelles – Seychelles
  • 5th edition of Military Exercise ‘Dharama Guardian’ between India and Japan – Mahajan Field Firing Ranges, Rajasthan
  • 12th edition of MILAN Naval Exercise – Visakhapatnam

Obituary

Former New Zealand Legspinner Jack Alabaster passes away

  • Former New Zealand legspinner Jack Alabaster passed away at the age of 93 in Cromwell, U.K.
  • Jack played 21 Tests from 1955-1972 (including the first four wins NZ achieved), taking 49 wickets at 38.02.
  • Alabaster is considered to be one of the best spinners to hail from New Zealand. From 1955 to 1972, he featured in 21 Tests and claimed 49 wickets.
  • He represented Otago in domestic cricket and made 143 first-class appearances during which he claimed 500 scalps.
  • He was also a part of New Zealand’s first four Test wins and also toured India and Pakistan in 1955-56, England in 1958, South Africa in 1961-62 and the West Indies in 1971-72.

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