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Daily Current Affairs 29th April 2024 Daily GK Update
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National News
Indian Historical Records Commission adopts a new logo & motto
- Indian Historical Records Commission (IHRC) adopted a new logo and motto. The design for logo and motto submitted by Shaurya Pratap Singh from Delhi was selected by the IHRC.
- The commission received a total 436 designs for logo and motto through an online competition that was launched in 2023 on MyGov portal.
- The logo signifies the theme and uniqueness of IHRC. The pages in the shape of lotus petals represent IHRC as the resilient nodal institution for maintaining historical records.
- The Sarnath pillar in the middle represents India’s glorious past. Its brown colour theme reinforces the organization’s mission of preserving, studying and honouring India’s historical records.
About Indian Historical Records Commission (IHRC)
- IHRC was established in the year 1919.
- IHRC is an apex advisory body on archival matters.
- The IHRC serves as a pan-India forum of creators, custodians and users of records to advise the Government of India on the management of records and their use for historical research.
- The IHRC is indeed overseen by the Union Minister of Culture.
International News
Iran unveils new ‘kamikaze’ drone
- The Iranian Islamic Revolutionary Guard Corps (IRGC) has introduced a new “Kamikaze drone” resembling Russia’s Lancet drone.
- According to the state Tasnim news agency, the new Iranian drone — which has not yet been publicly named — is similar to the Russian Zala Lancet drone, which was first produced in 2020.
- The Iranian drone, akin to the Lancet, boasts flight durations of 30 to 60 minutes and can carry payloads ranging from 3 to 6 kg, covering distances of up to 40 km.
- Equipped with electro-optical systems and a built-in warhead, it’s optimized for combating ambushes.
About Iran
- Capital – Tehran
- Currency – Rial
- President – Ebrahim Raisi
Banking and Financial
Hitachi Payment Services launches India’s first upgradable ATM
- Hitachi Payment Services has launched an upgradable ATM machine in India. These ATMs can be upgraded to a Cash Recycling Machine (CRM) at any time.
- Manufactured under the ‘Make in India’ initiative, these ATMs offer flexibility and efficiency to banks. Hitachi Payment Services claims that this is the first upgradable ATM in India.
- Out of the current 2,64,000 ATMs/CRMs currently operational in India, Hitachi manages over 76,000. The company estimates a potential market of around 1,00,000 upgradable ATMs in the next eight years.
NABARD & RBI Developed Innovation Hub to fasten digital Agri lending
- The National Bank for Agriculture and Rural Development (NABARD) has partnered with Reserve Bank’s arm RBIH to put in place a system which will enable faster processing of agricultural loans.
- NABARD will integrate its e-KCC loan origination system portal with the Public Tech Platform for Frictionless Credit (PTPFC) of Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.
- NABARD has developed the loan origination system portal to facilitate digital Kisan Credit Card (KCC) loan processing for cooperative banks and Regional Rural Banks (RRBs).
- Through the integration with PTPFC, about 351 district and state cooperative banks and 43 RRBs will gain access to a range of services including digital state land records, satellite data, KYC, credit history and transliteration for more effective credit underwriting.
- The collaboration will streamline the lending process and reduce the turnaround time for loans from three to four weeks to just five minutes for India’s 120 million farmers.
About Reserve Bank of India (RBI)
- Founded – 1 April 1935
- RBI Nationalized – 1 January 1949
- Headquarters – Mumbai, Maharashtra
- RBI set up – Hilton Young Commission
- 1st Governor – Sir Osborne Smith (Australia)
- 1st Indian Governor – CD Deshmukh
- 25th Governor – Shaktikanta Das
- RBI Deputy Governor (4) – 1. Tavarna Rabi Sankar
- J Swaminathan
- Michael D Patra
- M Rajeshwar Rao
RBI open on Tap Licensing for Small Finance Bank
- The Reserve Bank of India (RBI) has allowed the Small Finance Banks (SFB) to apply for Universal Bank licenses as per the on tap licensing norms of the RBI.
- The SFBs can apply for a universal bank license after fulfilling the norms laid by the RBI.
RBI Criteria for SFB to become a Universal Bank
- A minimum five-year satisfactory performance track record
- Eligible SFBs need to have a minimum net worth of Rs 1,000 crore as at the end of the previous quarter and should meet the prescribed CRAR requirements for SFBs
- The SFBs aspiring to become a universal bank needs to have scheduled status with a satisfactory track record of performance for a minimum period of five years.
- Also, the shares of the bank should have been listed on a recognised stock exchange.
- Further, these SFBs also need to have a net profit in the last two financial years besides having gross non-performing assets (GNPA) and net non-performing assets (NNPA) of less than or equal to three percent and one percent respectively in the last two financial years.
About Universal Bank
- The Universal Bank is a type of financial institution which provides all types of financial service under one roof to all types of customers.
- It provides retail banking (focussed on individual customers), wholesale banking (focused on companies and government) and investment banking .
- It is different from differentiated or Niche Banks as they function in a niche segment.
- A niche is defined as a small target group which has a specialised needs/requirement.
- The differentiation could be on account of the area of operations, its product profile or scope of activities.
- They may offer a limited range of specialised services /products or functions to a specific group of customers In India Local Area Bank, Regional Rural Banks, Primary Urban Cooperative Banks,Payment Banks and Small Finance Banks can be considered as niche banks .
About Small Finance Bank
- Raghuram Rajan headed the “High-Level Committee on Financial Sector Reforms” in its 2008 report titled “A Hundred Small Steps” and recommended the setting up of a Small Finance Bank to promote financial inclusion.
- The first Small Finance Bank to be set up in India was the Capital Small Finance Bank (earlier Capital Local Area Bank).
- The Capital Small Finance Bank started its banking operation in April 2016.
Deloitte projected India’s FY25 growth forecast at 6.6%
- Deloitte India has estimates India’s GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows.
- The rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services.
- Deloitte has revised India’s economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent.
Updated GDP List
- NIPFP – 7.1% (FY25)
- IMF – 6.8% (FY25), 6.5% (FY26)
- UNTCAD – 6.5% (FY24)
- 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)
- World Bank – 6.4% (FY25), 6.5% (FY26)
Appointment
Pakistan PM appoints Ishaq Dar as Deputy PM
- Pakistan Prime Minister Shehbaz Sharif has appointed Foreign Minister Ishaq Dar as Pakistan’s Deputy Prime Minister.
- Pakistan Muslim League-Nawaz (PML-N) leader Ishaq Dar is currently serving as Pakistan’s Foreign Minister. He has been also included in the Council of Common Interests (CCI).
- Earlier in March, Pakistan Prime Minister Shehbaz Sharif approved the reconstitution of the Council of Common Interests (CCI), replacing the finance minister with the foreign minister.
About Pakistan
- Capital- Islamabad
- Currency – Rupee
- President- Asif Ali Zardari
- Prime Minister – Shehbaz Sharif
- Official languages- Urdu, English
Newly Appointed Prime Minister & President
- President of Indonesia – Prabowo Subianto
- PM of Kuwait – Sheikh Ahmad Abdullah al-Ahmad al-Sabah
- PM of Ireland – Simon Harris (youngest PM of nation, 37)
- President of Slovakia – Peter Pellegrini
- President of Egypt – Abdel Fattah Al-Sisi (3rd term)
Manoj Kumar appointed as CVO of JNPA
- Indian Revenue Service (IRS) officer Manoj Kumar has been appointed as new Chief Vigilance Officer (CVO) of Jawahar Lal Nehru Port Authority (JNPA).
- Kumar has been appointed as CVO of JNPA for an initial period of three years from the date of assumption of charge of the post or until further orders, whichever is earlier.
- Kumar is IRS officer of 2003-batch. With his new assignment, Kumar will replace Vidyadhar A Malegaonkar (IRTS), who is presently serving as CVO of JNPA.
Recent Appointment
- Director of MoHUA – Sunil Kumar Yadav
- Executive Chairman of Coromandel International – Arun Alagappan (replace A. Vellayan)
- Chairman of Wrestling Federation of India’s Athletes’ Commission – Narsingh Pancham Yadav
- first women VC of Aligarh Muslim University (AMU) – Prof Naima Khatoon
- CVO of Cotton Corporation of India – Nidhi Jain
Sarvadanand Barnwal appointed as Director in Department of Land Resources
- Sarvadanand Barnwal (ISS) has been selected for the appointment as Director in the Department of Land Resources.
- Barnwal has been selected for the appointment under the Central Staffing Scheme (CSS) for a period of five years from the date of taking over charge of the post or until further orders, whichever is earlier.
- Barnwal is an Indian Statistical Service (ISS) officer of 2010-batch. He was recommended for the Central deputation by the Ministry of Statistics & Programme Implementation.
Awards
India Today Group’s AI anchor Sana wins global media award
- India Today Group’s AI news anchor, Sana has won the International News Media Association (INMA)’s 2024 Global Media Award for AI-led newsroom transformation.
- India Today Group has been selected as the best in South Asia for ‘AI-led newsroom transformation’.
- The company’s human-collaborative AI anchor, Sana, won first place among national brands for the ‘best use of AI in customer-facing products’.
- The India Today Group introduced India’s First AI Anchor, Sana, in March 2023.
- Sana boasts a diverse set of capabilities, excelling in multilingual communication with virtually no learning curve.
- Notably, it seamlessly transitions across a spectrum of topics and formats without succumbing to fatigue, thus addressing the dynamic demands of our newsroom.
- The awards ceremony was held at the Victoria and Albert Museum in London.
Recent Awards
- Miss Universe Buenos Aires title – Alejandra Rodríguez (Argentina)
- Newsweek’s 2024 list of the ‘World’s Best Hospitals’ – Medanta Gurugram
- World Press Photo of the Year award 2024 – Mohammed Salem
- CIDC Vishwakarma Award for Social Development and Impact – Puravankara Limited,
- International Fellowship by the Engineering Academy of Japan – Kaushik Rajashekara
- Earns Frost & Sullivan’s 2023 Indian Company of the Year Award – STT GDC India
Gina Justus wins 2024 Cambridge Dedicated Teacher Awards
- Gina Justus, a teacher at Our Own English High School, Sharjah Girls’ Branch, has been named the regional winner for the Middle East and North Africa (MENA) in the 2024 Cambridge Dedicated Teacher Awards.
- Justus, originally from Thiruvananthapuram, Kerala, has been working in the UAE since 2005 and was recognised for her outstanding mentorship and dedication to charity.
- This year’s competition saw a record-breaking number of nominations, with over 14,840 submissions from 141 countries.
- The Cambridge Dedicated Teacher Awards is a global competition that honors exceptional primary and secondary school teachers.
Sports
Bismah Maroof announces retirement from international cricket
- Bismah Maroof, one of Pakistan’s most high-profile women cricketers and former captain, has announced retirement from all international cricket.
- Bismah, 32, was forced into a long break from cricket, first due to a fitness issue in 2020 and then after giving birth to a baby girl in August 2021.
- Bismah had grabbed headlines when she took her baby to the 2022 World Cup in New Zealand. She was the first Pakistani woman cricketer to avail a 12-month maternity leave with pay policy.
- A left-handed batter, Bismah made her ODI debut against India in 2006 and went on to represent Pakistan in 276 international matches, the most by any Pakistan women cricketer.
- She had made her T20I debut against Ireland in 2009 She has scored 6,262 international runs, including 33 half-centuries, and has taken 80 international wickets with her right-arm leg-spin.
Recently Retired Players
- Saurav Ghosal (India) – Professional Squash
- Kento Momota (Japan) – International Badminton
- Umpire Marais Erasmus (South Africa) – ICC Elite Panel of Umpires.
- Shahbaz Nadeem (Jharkhand, India) – International Cricket
- B Sai Praneeth (Teleangana, India) – International badminton.
- Deep Grace Ekka (India) – International Hockey
- Shaun Marsh (Australia) – Professional Cricket
- Heinrich Klaasen (South Africa) – Test cricket
Important day
28 April – World Day for Safety and Health at Work
- The World Day for Safety and Health at Work is observed every year on 28 April.
- This day is dedicated to preventing work-related accidents and diseases. It is a global commitment to ensure safe and healthy working conditions for all workers.
- It is now an opportunity for workers, employers, and governments to come together and commit to taking steps towards creating safer workplaces.
- This day was first observed in 2003 to raise awareness about the toll that work-related accidents and diseases were taking on workers’ lives. The day was established on a date coinciding with the International Commemoration Day for Dead and Injured Workers.
28 April 2024 – World Pinhole Photography Day
- World Pinhole Photography Day is observed every year on last Sunday of April. This year was celebrated on 28 April.
- The day aims to encourage people to pick up pinhole photography as a hobby and profession, and to share their techniques and pictures with the pinhole photography community.
29 April – International Dance Day
- International Dance Day or World Dance Day is celebrated on 29 April every year.
- This day is devoted to the fine art of dance, and promoting dance as a widespread value. The day also aims to promote dance in all its forms globally.
- The International Dance Committee of the UNESCO International Theatre Institute first introduced the concept of World Dance Day in 1982.
- The main target of this day is to celebrate dance, bring issues to light about its significance, and empower individuals all around the world to take part in this artistic expression.
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