Current Affairs Today 6th and 7th April 2024 Daily GK Update

Daily Current Affairs 6th and 7th April 2024 Daily GK Update

Current Affairs Quiz 2024, Daily gk updates and Current affairs play a major role in any competitive exam. so here we are providing the current affairs quiz on a daily basis for Bank, SSC, Railway and Other Government Competitive Examinations.

Here you can find Current Affairs Quiz for IBPS PO Mains, Current Affairs Quiz for IBPS RRB PO Mains, Current Affairs Quiz for IBPS RRB Clerk Mains, Current Affairs Quiz for RBI Assistant Mains, Current Affairs Quiz for RBI Grade B, Current Affairs Quiz for SSC.

 

National News

BEML, BEL join hands to develop indigenous train control management system

  • Bharat Earth Movers Limited (BEML) and Bharat Electronics Limited (BEL) has signed an MoU to jointly develop an indigenous Train Control Management System (i-TCMS), aimed at what they called “revolutionising” rail communication technology in the country.
  • The primary objective of this partnership is to identify potential areas of cooperation between BEML and BEL, with a focus on exploring the joint development of high-value products and solutions tailored to the requirements of Indian Railways and Metro systems.
  • Currently, Train Control Management Systems (TCMS) are predominantly supplied by propulsion suppliers, leading to dependency on imported technology.
  • In line with the “Make in India” initiative, the collaboration aims to develop TCMS indigenously to meet the future needs of rail projects in the country.

Recent MoU

  • Mahindra Aerostructures inks $100-million supply contract with Airbus group
  • IOCL, Panasonic Energy ink pact for lithium-ion cell JV
  • HPCL and Tata Join Forces to Build Nationwide EV Charging Network
  • NHPC inks pct with JBIC for 20 billion for developing 300 MW solar project in Bikaner, Rajasthan.
  • Tech Mahindra collaborates with IBM to drive digital adoption

India to stop importing urea by end of 2025

  • According to the Union Minister for Chemicals and Fertilizers, Mansukh Mandaviya, India will stop importing urea by the end of 2025 due to an increase in local production capacity with the commissioning of new fertilizer plants.
  • India is a big importer of Urea and meets around 30% of its 35 million tonnes of annual urea requirement from imports.
  • The urea production in the country increased from 225.08 lakh tonnes in 2014-15 to 284.95 lakh tonnes in 2022-23.
  • In 2022-23, the total import of Urea was 75.8 lakh tonnes, which is around 30% of the domestic demand. The main sources of urea imports are Oman, Qatar, Saudi Arabia, and the UAE.

Syama Prasad Mookerjee Port registers record cargo handling in 2023-24

  • In its 154-year history, Syama Prasad Mookerjee Port (Kolkata) including Kolkata Dock System (KDS) and Haldia Dock Complex (HDC), achieved a milestone in the just-concluded financial year 2023-24 by handling 66.4 million tonnes of cargo.
  • It marked a 1.11 per cent increase from the previous record of 65.66 million tonnes moved in 2022-23.
  • The complex handled 49.54 million tonne in 2023-24, marking its highest cargo volume ever since its inception and surpassing the previous record of 48.608 million tonne in 2022-23, representing an increase of 1.91 per cent.
  • Meanwhile, Kolkata Dock System managed 16.856 million tonne of cargo in 2023-24 compared to 17.052 million tonne in 2022-23.
  • The port’s robust financial performance in 2023-24, achieving a net surplus of Rs 501.73 crores as well, a significant 65 per cent growth over the previous year’s net surplus of Rs 304.07 crores, marking a remarkable accomplishment.
  • Haldia Dock Complex registered growth in respect of POL (Product), Other Liquid, Vegetable Oil, Iron Ore, Other Coal Coke, Finished Fertilizer, Container TEUs (twenty-foot equivalent), while Kolkata Dock System registered growth in respect of finished fertilizer, timber, other coal / coke, pulses and peas, container (both TEUs and tonnage) during 2023-24 vis-a-vis 2022-23.

International News

UAE’s Masdar to host World Future Energy Summit

  • Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, will host the World Future Energy Summit (WFES).
  • Taking place from April 16 to 18 at the Abu Dhabi National Exhibition Centre (ADNEC), WFES is the world’s leading business event for future energy, clean technology and sustainability, with a packed programme of events, activations, discussions and forums.
  • The Masdar Pavilion at WFES will act as a hub for innovation, collaboration and knowledge sharing, with its theatre featuring an engaging programme of panels and presentations, including forums by Masdar’s global strategic initiatives, Y4S (Youth 4 Sustainability) and WiSER (Women in Sustainability, Environment and Renewable Energy).

Banking and Financial

Bandhan Mutual Fund launched Bandhan Innovation Fund

  • Bandhan Mutual Fund has launched the Bandhan Innovation Fund, an open-ended thematic fund dedicated to investing in companies at the forefront of innovative breakthroughs.
  • The new fund offers or the NFO of the scheme will open for subscription on April 10 and will close on April 24.
  • The scheme will be benchmarked against Nifty 500 TRI. The scheme will be managed by Manish Gunwani (equity investments), Brijesh Shah (debt investments), and Ritika Behera (overseas investments).
  • The fund targets companies with substantial R&D investment, high skilled-employee costs, potentially higher margins or growth, unique products or services, non-linear business models, and a notable brand presence, according to a press release by the fund house.
  • The Bandhan Innovation Fund will allocate its investments across a spectrum of innovators: 35-45% to leading innovators with substantial industry R&D investments; 35-45% to rising innovators utilizing innovation for a competitive edge; and 10-15% to emerging innovators, those filling market gaps with disruptive products or services and showing a strong growth trajectory.

Recent Facilities Launched in Banking & Insurance Sector

  • 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
  • Airtel Payments Bank partners with Noise and Mastercard to unveil ‘A New Way To Pay’

MPC holds rate at 6.5% to tame inflation

  • The Monetary Policy Committee (MPC) has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. This is the 7th time that the rates have been kept on hold.
  • The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.
  • The Monetary Policy Committee (MPC) on April 5 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. This is the 7th time that the rates have been kept on hold.
  • The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.
  • These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.
  • GDP growth for 2024-25 retained at 7 %.
  • The Consumer Price Index inflation for 2024- 25 is projected at 4.5 per cent.
  • The real GDP growth for 2024-25 is projected at 7.0 percent with Quarter 1 at 7.1 percent; Quarter 2 at 6.9 percent; Quarter 3 at 7.0 percent; and Quarter 4 also at 7.0 percent.

RBI Current Policy Rate

  • Policy Repo Rate – 6.50%
  • Standing Deposit Facility (SDF) – 6.25%
  • Marginal Standing Facility (MSF) – 6.75%
  • Bank Rate – 6.75%
  • Reverse Repo Rate – 3.35%
  • Cash Reserve Ratio (CRR) – 4.50%
  • Statutory Liquidity Ratio (SLR) – 18%

RBI penalizes IDFC First Bank, LIC Housing Finance for non-compliance

  • RBI has imposed a penalty of ₹1 crore on IDFC First Bank for non-compliance with certain directions on ‘Loans and Advances – Statutory and Other Restrictions’.
  • The Statutory Inspection for Supervisory Evaluation for FY22 revealed that the bank had sanctioned term loans to a public sector undertaking for financing infrastructure projects without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations. Further, the repayment/servicing of the term loans was made out of budgetary resources.
  • The central bank also fined LIC Housing Finance ₹49.7 lakh for breach of norms. The housing finance company did not comply with certain provisions of the Fair Practices Code when it did not disclose the rate of interest and approach for gradation of risk and rationale for charging different rate of interest to different categories of borrowers in loan application forms and sanction letters.

Recent Penalties imposed by RBI

  • Nashik’s Janalaxmi Cooperative Bank (59.90 lakh) – for non-compliance with certain regulatory norms.
  • Solapur Janata Sahakari Bank (28.30 lakh) – For sanctioning fresh loans carrying risk weights of more than 100 per cent in FY22.
  • Chikkamagaluru District Cooperative Central Bank, Karnataka (50,000 rupees) – for delay in reporting of frauds to NABARD Rural Development (NABARD)
  • DCB Bank (63.6 lakh) – for non-compliance with certain directions related to ‘interest rate on advances’
  • Tamilnad Mercantile Bank (1.31 crore) – for non-compliance with certain directions related to ‘interest rate on advances’.
  • Bank of India (1.4 crore) – for non-compliance with certain regulatory norms.

Appointment

Meenesh Shah elected as Chairman of NCDFI

  • The National Cooperative Dairy Federation of India Ltd. (NCDFI) elected Meenesh Shah as the Chairman.
  • The election process was conducted by Praveen Chaudhary, IAS, the District Collector of Anand, who served as the Returning Officer.
  • Prior to the Board elections, the NCDFI General Body had elected eight directors to the Board in an unopposed process on April 04, 2024.
  • This included Dr Meenesh Shah, Jharkhand Milk Federation, Dr. Mangal Jit Rai, Sikkim Milk Union, Shamalbhai B. Patel, Gujarat Milk Federation, Randhir Singh, Haryana Milk Federation, K. S. Mani, Kerala Milk Federation, Balachandra L. Jarakiholi, Karnataka Milk Federation, Narinder Singh Shergill, Punjab Milk Federation and Sameer Kumar Parida, West Assam Milk Union.

About NCDFI

  • NCDFI is a national-level apex dairy cooperative registered on December 7, 1970 and is governed under the provisions of the Multi State Cooperative Societies (Amendment) Act, 2023.
  • It has 20 Regular Members, 14 Associate Members and the National Dairy Development Board (NDDB) as its Institutional Member.

Recent Appointment

  • DG of Electronics & Mechanical Engineers – J S Sidana
  • CMD of Konkan Railway Corporation Ltd. – Santosh Kumar Jha
  • Chief Business Officer of Perfios – Sridhar Narayan
  • President of Assocham – Sanjay Nayar (replace Ajay Singh)
  • Principal DG of the Press Information Bureau – Sheyphali Sharan (Manish Desai)

Love Kumar appointed as Inspector General in SPG

  • Indian Police Service (IPS) officer Love Kumar has been appointed as Inspector General in Special Protection Group (SPG).
  • Kumar is a 2004-batch Indian Police Service (IPS) officer of Uttar Pradesh cadre. He has been appointed to the post for a period of two years with effect from the date of assumption of post or till further orders, whichever is earlier. Currently, he is posted as DIG in the same group.
  • Further, Umesh Chander Datta (IPS) has also been appointed as IG in SPG for a period of two years from the date of assumption of the charge of the post. Till the further order whichever is earlier.

Recent Appointment in Defence Sector

  • 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
  • Head of Parliament security – Anurag Agarwal

Awards

SJVN honoured with 15th Vishwakarma Awards 2024

  • SJVN Limited has won two prestigious awards at the 15th CIDC Vishwakarma Awards 2024, instituted by the Construction Industry Development Council.
  • SJVN has been conferred with ‘Achievement Award for Creating Social Development & Impact’ and ‘CIDC Partners in Progress Trophy’.
  • These awards demonstrate SJVN’s commitment to driving positive change through innovative and concrete CSR initiatives.

About SJVN Limited

  • SJVN Limited is a Schedule-‘A’ Mini Ratna Category-I under the control of the Ministry of Power. It is a public sector undertaking.
  • SJVN was earlier known as ‘Sutlej Jal Vidyut Nigam’. It is an Indian public sector undertaking involved in hydropower generation and transmission.
  • SJVN is as a joint venture of the Government of India and the Government of Himachal Pradesh.
  • Established – 24 May 1988
  • Chairperson and Managing Director – Geeta Kapur

Recent Awards

  • SKOCH ESG Award 2024 in Renewable Energy Financing Category – REC Limited
  • 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)

Defence

Army inducted ‘Akashteer’ Systems to enhance air defence postue

  • The Army has started the induction of control and reporting systems under ‘Project Akashdeep’ to bolster its air defence capabilities.
  • The deployment of the systems began with flagging off of the first batch of Control Centres from BEL Ghaziabad.
  • Developed by Bharat Electronics Limited (BEL), the project is aimed at significantly enhancing the operational efficiency and integration of the Army’s air defence mechanisms.
  • The Akashteer Project is a cutting-edge initiative designed to automate air defence control and reporting processes by digitising the entire process.

Sports 

Bilquis Mir became India’s First Female Jury Member at Paris Olympics

  • Bilquis Mir from Jammu and Kashmir is set to create history as the first woman from India to serve as a jury member at this year’s Summer Olympics in Paris, scheduled from July 26 to August 11.
  • Bilquis Mir, water sports promoter, developer, athlete, jury member of Indian Kayaking and Canoeing association has been nominated as the member of the jury to officiate at the Paris Olympics games.
  • She is the first person from India to be appointed as a jury member at the Paris Olympics.
  • Bilquis, who also served a jury member at the previous year’s Asian Games in Hangzhou, China, said she started her journey in 1998 as a canoeist from Kashmir and subsequently represented the country.

Important day

6 April 2024 – National Handmade Day

  • National Handmade Day is celebrated every year on the first Saturday in April. This year falls on April 6.
  • It is a day dedicated to honoring, celebrating, and recognizing the skill and dedication of people who create handmade goods. The day also serves as a reminder of the importance of small businesses and their contributions to the economy.
  • Theme 2024 – Buy a Handmade Product
  • National Handmade Day was first established in 2017 by Amy Bierstadt, the founder of the website From Scratch Farm, which provides creative content and tips on making handmade crafts at home. In 2018, the government officially proclaimed National Handmade Day, solidifying its recognition as an annual celebration.

6 April – International Day of Sport for Development and Peace

  • The International Day of Sport for Development and Peace (IDSDP) is celebrated annually on April 6.
  • Objective – To recognize the importance of sports and physical activity in our personal lives and communities around the world.
  • Theme 2024 – Sport for the Promotion of Peaceful and Inclusive Societies
  • On August 23, 2013, the United Nations General Assembly (UNGA) voted Resolution 67/296, declaring April 6 as the International Day of Sport for Development and Peace.
  • On September 18, 2013, the resolution report was released. The International Olympic Committee (IOC) contributed to the foundation of this special day.

6 April – National Library Day

  • National Library Day is celebrated every year on April 6th.
  • On this day, people come together to celebrate the crucial roles that libraries and librarians play in our society. It’s also the day to reflect on the importance of reading and how essential it is to make books accessible and affordable for every reader.
  • Libraries aren’t a new concept — it dates back millennia. The first systematically organized library was founded in the 7th century B.C. by Assyrian ruler Ashurbanipal in Nineveh, in contemporary Iraq. It contained approximately 30,000 cuneiform tablets sorted by subject.

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