04th April, 2024

1. The Indian Institute of Corporate Affairs (IICA), with HP India has introduced the “HP Future Impact Leaders – IICA Certified Environmental – Social – Governance (ESG) Professional Program”
2. The Ministry of Health and Family Welfare has mandated the compulsory linking of Central Government Health Services (CGHS) beneficiary ID with Ayushman Bharat Health Account (ABHA) ID in a move to integrate various government health schemes under the Ayushman Bharat Digital Mission (ABDM).
3. Meta (previously known as Facebook) announced its collaboration with the Press Trust of India (PTI) under its third-party fact-checking program in India.
4. The Union Minister of Coal has informed that coal and lignite production has grown by more than 70% over the last 10 years owing to favorable government support.
5. The Ministry of Road Transport and Highways (MoRTH) has raised Rs 40,314 crore through various modes of asset monetization in the financial year 2023-24, against the target of Rs 28,968 crore.
6. Paradip Port Authority has clocked a record 145.38 million metric tonnes (MMT) cargo throughput in FY 2023-24 to nudge past Deendayal Port, Kandla, and emerge as the highest cargo handling major port of the country.
7. Amazon announced a remarkable growth across Uttar Pradesh, with an impressive 25% Y-O-Y increase across home and kitchen categories.
8. The Lower House of Nepal’s Federal Parliament (The House of Representatives) has endorsed the Charter of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
9. Senior officials of India and the five-nation Eurasian Economic Union (EEU) bloc held discussions to formally start negotiations for a free trade agreement to boost economic ties.
10. TATA AIG General Insurance Company Limited introduces “Travel Guard Plus”, a comprehensive travel insurance product.
11. Air India has introduced a revamped customer reward program called Flying Returns, marking the program’s first major overhaul in over a decade.
12. PhonePe has partnered with the Singapore Tourism Board to promote Singapore tourism through Unified Payments Interface (UPI) transactions, targeting Indian visitors.
13. The National Stock Exchange (NSE) has announced the launch of four new thematic indices, aiming to provide investors with diversified investment options across various sectors.
14. Recently Forbes 2024 Billionaire list was released by the Forbes.
15. Private sector companies played a significant role in India’s defence production during the fiscal year 2023-24, accounting for a larger share than in previous years.
16. The World Health Organization (WHO) announces the launch of S.A.R.A.H (Smart AI Resource Assistant for Health), a digital health promoter prototype with enhanced empathetic response powered by generative artificial intelligence (AI).
17. Liberty Media, which already owns the sports car racing league Formula One (F1), signed a deal with Dorna, the owners of MotoGP, to acquire the most reputed motorcycle racing championship for $4.5 billion.
18. Every year on April 3, the Army Medical Corps celebrates its founding day, which is known as Army Medical Corps Establishment Day.
19. BMW Group and Tata Technologies Limited signed a JV agreement to establish an Automotive Software and Business IT Development Hub
20. The Quality Council of India (QCI) and Laghu Udyog Bharati (LUB) have collaborated to enhance awareness and participation in the Micro, Small, and Medium Enterprises (MSME) Competitive Lean Scheme (MCLS) of the Ministry of MSME among the members of Laghu Udyog Bharati (LUB), typically MSMEs.
21. HCLTech has announced an expansion of its partnership with Google Cloud to utilize Google Gemini, enhancing its GenAI solutions.
22. El-Sisi was sworn in for a third term as Egyptian president.
23. Sanjay Nayar takes over as Assocham President
24. Amit Kalyani named V-C, joint MD of Bharat Forge
25. Elon Musk’s X appoints new head of safety to oversee content rules
26. Barbara Rush, the Golden Globe-winning American actress, passed away at 97.
27. Katchatheevu is a small islet in the Palk Strait, connecting the Bay of Bengal and the Arabian Sea. It was a disputed territory between Sri Lanka and India, reportedly since 1921.

National News

1. IICA and HP India launch HP Future Impact Leaders 
   • What: The Indian Institute of Corporate Affairs (IICA), with HP India has introduced the “HP Future Impact Leaders – IICA Certified Environmental – Social – Governance (ESG) Professional Program”
   • Why: This initiative aims to promote sustainability and empower corporate social responsibility (CSR) professionals to emerge as leaders in navigating the intricacies of environmental, social, and governance (ESG) frameworks.
   • Tell me more:
     • Under this program, HP India in collaboration with IICA, will offer 100 percent scholarships to 75 candidates, enabling them to pursue advanced education in ESG.
     • The program is specifically designed to cater to professionals either working in business and human rights (BHR), ESG, environmental health and safety (EHS), sustainability, and CSR.
     • Eligibility: Candidates must possess a bachelor’s degree in any discipline and a minimum of five years of experience in relevant fields to be eligible for the program.
       Source: PIB

2. Govt mandates linking of CGHS and ABHA IDs to integrate health schemes.
   • What: The Ministry of Health and Family Welfare has mandated the compulsory linking of Central Government Health Services (CGHS) beneficiary ID with Ayushman Bharat Health Account (ABHA) ID in a move to integrate various government health schemes under the Ayushman Bharat Digital Mission (ABDM).
   • Why: The move is aimed at creating a digital health identification of CGHS beneficiaries and storing their digital health records under ABDM, bringing various schemes to one platform.
   • Tell me more:
     • The linking of CGHS ID with ABHA ID shall be mandatory with effect from April 1, 2024, and shall be completed within 30 days by all existing CGHS beneficiaries.
       Source: Business Standard

3. Meta partners with PTI to expand its fact-checking program in India
   • What: Meta (previously known as Facebook) announced its collaboration with the Press Trust of India (PTI) under its third-party fact-checking program in India.
     • A third-party fact-checking program is one where independent organizations, not the social media platform itself, assess the accuracy of information shared on the platform.
   • Why: To identify, review, and rate content for misinformation across Meta platforms.
   • Tell me more:
     • Meta now has 12 fact-checking partners in India, the highest in any country, covering 16 Indian languages.
     • Under the third-party fact-checking program initiative, Meta partners with fact-checkers certified through the International Fact-Checking Network (IFCN), who identify, review, and rate viral misinformation across Facebook, Instagram, and WhatsApp.
       • Meta’s fact-checking initiative started in 2016 to address viral misinformation, focusing on timely and consequential hoaxes.
       • The program has expanded globally, involving nearly 100 organizations in more than 60 languages.
         Source: Business Standard

4. India’s coal & lignite production at ‘historical’ one billion tonnes 
   • What: The Union Minister of Coal has informed that coal and lignite production has grown by more than 70% over the last 10 years owing to favorable government support.
     • The country’s monthly coal production exceeded 100 mt for the first time in March 2023.
   • Tell me more:
     • India is also the world’s second-largest Coal consumer and second-largest Coal producer.
       Source: The Hindu Business Line

5. MoRTH raises Rs 40,314 crore via asset monetization in financial year 2024
   • What: The Ministry of Road Transport and Highways (MoRTH) has raised Rs 40,314 crore through various modes of asset monetization in the financial year 2023-24, against the target of Rs 28,968 crore.
     • Asset monetization is a strategy to generate new income streams by unlocking the value of assets that are underutilized.
   • Tell me more:
     • Currently, MoRTH monetizes its assets under three different modes —
       • toll-operate-transfer (TOT) model,
       • Infrastructure Investment Trust (InvIT)
       • Project-based financing
         Source: Business Standard

6. Paradip Port pips Kandla to become India’s highest cargo handling port
   • What: Paradip Port Authority has clocked a record 145.38 million metric tonnes (MMT) cargo throughput in FY 2023-24 to nudge past Deendayal Port, Kandla, and emerge as the highest cargo handling major port of the country.
   • Why: The increased performance in cargo has been driven by improvement measures undertaken by the Port, which include an improved system of operation at a mechanized coal handling plant.
   • Tell me more:
     • For the first time in the 56 years history of operation, PPA has surpassed previous records, set by Deendayal Port.
     • Paradip Port has also recorded growth of 10.02 million metric tonnes (7.4 percent) of traffic on a year-on-year basis.
       Source: Odisha TV

State News

1. UP emerges as one of fastest-growing markets for Amazon.
   • What: Amazon announced a remarkable growth across Uttar Pradesh, with an impressive 25% Y-O-Y increase across home and kitchen categories.
     • The online marketplace is seeing healthy double-digit growth in new customers from UP, with the majority coming from Tier 2 and below cities.
     • The company has confirmed UP as one of the largest markets for Amazon with Lucknow, Noida and Ghaziabad contributing to more than 50% of the total demand coming from the state.
       Source: The Statesman

International News

1. Nepal Parliament endorses BIMSTEC Charter
   • What: The Lower House of Nepal’s Federal Parliament (The House of Representatives) has endorsed the Charter of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
     • BIMSTEC was formed in 1997 with the objective of making regional coordination on the issues like economic prosperity, social progress, scientific achievement, peace, stability and connectivity.
     • Members: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
   • Why: Charter has provision that it will come into force only after its endorsement by all member countries. (Except Nepal, respective parliaments of other members endorsed the charter).
     Source: Nepal Press
2. India, EEU bloc officials hold talks to formally start negotiation for FTA
   • What: Senior officials of India and the five-nation Eurasian Economic Union (EEU) bloc held discussions to formally start negotiations for a free trade agreement to boost economic ties.
   • The five members of the EEU are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
     Source: Business Standard

Banking and Economy

1. TATA AIG Introduces ‘Travel Guard Plus’ – A Comprehensive Travel Insurance Solution
   • What: TATA AIG General Insurance Company Limited introduces “Travel Guard Plus”, a comprehensive travel insurance product.
   • Why: It covers for diverse travel needs of the customers, ensuring a stress-free experience.
   • Tell me more:
     • Three add-on bundles: Cruise, Travel Plus, and Accident, catering to specific needs were launched under this program.
       Source: Business Standard

   
   

2. Air India launches revamped customer reward programme
   • What: Air India has introduced a revamped customer reward program called Flying Returns, marking the program’s first major overhaul in over a decade.
     • The launch of the revamped loyalty program signifies Air India’s commitment to enhancing customer experience and providing more rewards and benefits to its patrons.
       Source: The Indian Express
3. PhonePe to promote Singapore tourism via UPI
   • What: PhonePe has partnered with the Singapore Tourism Board to promote Singapore tourism through Unified Payments Interface (UPI) transactions, targeting Indian visitors.
   • Why it is in the news: This collaboration aims to facilitate seamless payment experiences for Indian tourists visiting Singapore. It highlights the growing importance of digital payment solutions in enhancing the travel experience and promoting tourism.
   • Tell me more:
     • The MoU has been signed for two years.
     • STB and PhonePe will invest in joint marketing efforts across the two countries to promote UPI experiences across key tourism hotspots in Singapore.
4. NSE to launch four indices
   • What: The National Stock Exchange (NSE) has announced the launch of four new thematic indices, aiming to provide investors with diversified investment options across various sectors.
   • Why: This announcement reflects NSE’s initiative to expand its index offerings and cater to the evolving needs of investors by introducing thematic indices focused on specific sectors and themes within the market.
   • Tell me more:
     • The four new thematic indices launched by NSE are:
     • Nifty Tata Group 25% Cap
       • The Nifty Tata Group 25% Cap index is a variant of the existing Nifty Tata Group Index and consists of 10 companies. It caps the individual weight of a single company at 25% to ensure diversification.
     • Nifty500 Multicap India Manufacturing 50:30:20
       • The Nifty500 Multicap India Manufacturing 50:30:20 index includes large-cap, midcap, and smallcap companies representing the manufacturing theme, providing investors with exposure to various segments within the manufacturing sector.
     • Nifty500 Multicap Infrastructure 50:30:20
     • Nifty MidSmall Healthcare
       Source: Livemint
5. Liberty Media, owners of Formula One, buys MotoGP for $4.5 billion
   • What: Liberty Media, which already owns the sports car racing league Formula One (F1), signed a deal with Dorna, the owners of MotoGP, to acquire the most reputed motorcycle racing championship for $4.5 billion.
   • Tell me more:
     • Carmelo Ezpeleta, Dorna CEO since 1994, to continue leading Dorna.
     • Headquarters to remain in Madrid, Spain.
       Source: Business Standard

Reports and Indices

1. Forbes 2024 Billionaire List
   • What: Recently Forbes 2024 Billionaire list was released by the Forbes.
   • Tell me more:
     • Mukesh Ambani’s wealth surges to USD 116 billion from USD 83.4 billion in 2023, retaining his position as the richest Indian, and 9th globally.
     • Gautam Adani, ranked 17th globally, sees his wealth rise to USD 84 billion from USD 47.2 billion in 2023 despite controversies surrounding his conglomerate.
     • Forbes reports a record-breaking 2,781 billionaires globally, with combined wealth reaching USD 14.2 trillion, marking a USD 2 trillion increase from 2023.
     • US dominates the list with 813 billionaires, followed by China with 473, and India adds 31 more billionaires, totaling 200.
     • Fashion and cosmetics giant LVMH’s Bernard Arnault is at the top of the list with USD 233 billion wealth, followed by Elon Musk with USD 195 billion and Amazon’s Jeff Bezos with USD 194 billion.
       Source: Press Trust of India

Defence News

1. Share of private sector in defence production hits a multi-year high
   • What: Private sector companies played a significant role in India’s defence production during the fiscal year 2023-24, accounting for a larger share than in previous years.
   • Why: This development aligns with the government’s efforts to boost local defence manufacturing and reduce reliance on imports.
   • Tell me more:
     • In the fiscal year 2023-24, private sector companies accounted for approximately 22% of the total defence production, amounting to ~16,411 crore.
     • Despite a decrease in overall defence production compared to the previous fiscal year, the private sector’s share increased due to their production decline being less significant than that of other segments.
       Source: Business Standard

Science and Tech

1. WHO unveils S.A.R.A.H, a digital health promoter, generative AI for public health.
   • What: The World Health Organization (WHO) announces the launch of S.A.R.A.H (Smart AI Resource Assistant for Health), a digital health promoter prototype with enhanced empathetic response powered by generative artificial intelligence (AI).
   • Why: It aims to empower users on their health journey with nuanced, judgment-free responses using the generative AI
   • Tell me more:
     • Unveiled ahead of World Health Day 2024 (April 7, 2024), themed ‘My Health, My Right’.
     • S.A.R.A.H., or Sarah, is powered by Soul Machines Limited’s Biological AI technology and Gen-AI for enhanced empathetic responses.
     • It offers dynamic personalized conversations 24/7 in 8 languages across various health topics on any device.
     • WHO previously used a digital health worker named Florence during the COVID-19 pandemic.
       Source: WHO

Important Days

1. 3rd April: 260th Raising Day of Army Medical Corps
   • What: Every year on April 3, the Army Medical Corps celebrates its founding day, which is known as Army Medical Corps Establishment Day.
     Source: ETV Bharat

Memorandum of Understanding

1. BMW and Tata collaborate for the development of Automotive Software and Business IT solutions.
   • What: BMW Group and Tata Technologies Limited signed a JV agreement to establish an Automotive Software and Business IT Development Hub.
   • Tell me more:
     • The JV will operate in Pune, Bengaluru, and Chennai.
       • Bengaluru and Pune will serve as main centers for operations and development, while Chennai will focus on business IT solutions.
         Source: TATA Technologies

2. QCI And Laghu Udyog Bharati Sign MoU To Boost MSME Competitiveness
   • What: The Quality Council of India (QCI) and Laghu Udyog Bharati (LUB) have collaborated to enhance awareness and participation in the Micro, Small, and Medium Enterprises (MSME) Competitive Lean Scheme (MCLS) of the Ministry of MSME among the members of Laghu Udyog Bharati (LUB), typically MSMEs.
     • MCLS is a program aims to boost the competitiveness of MSMEs in the country.
   • Why: Aim is to promote the implementation of lean concepts and sustainable practices among LUB members.
   • Tell me more:
     • Joint activities include awareness campaigns, training sessions, and consultations at state and district levels.
     • Nodal officers from each organization will facilitate the seamless implementation of MCLS.
     • National Accreditation Board for Education and Training (NABET) will serve as one of the Implementing Agencies, promoting registration and offering assistance to LUB members for the scheme.
       Source: Outlook India

3. HCLTech teams up with Google Gemini to boost GenAI solutions.
   • What: HCLTech has announced an expansion of its partnership with Google Cloud to utilize Google Gemini, enhancing its GenAI solutions.
   • Why it is in the news: This collaboration aims to drive innovation in artificial intelligence (AI) solutions. By enabling 25,000 engineers on Google Cloud’s GenAI technology, HCLTech intends to enhance its capabilities to support clients in various stages of their AI projects.

Appointments

1. El-Sisi was sworn in for a third term as Egyptian president.
   • What: Abdel Fattah Al-Sisi was sworn in as Egypt’s President for his third term in the New Administrative Capital.
     Source: AljaZeera

2. Sanjay Nayar takes over as Assocham President
   • What: Sanjay Nayar, Founder and Chairman of Sorin Investment Fund was appointed as President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) for the year 2024-25.
     Source: The Hindu Business Line

3. Amit Kalyani named V-C, joint MD of Bharat Forge
   • What: Bharat Forge has announced the elevation of Amit Kalyani, son of its Chairman and MD Babasaheb N Kalyani, to the position of Vice-Chairman and Joint Managing Director of the company.
     Source: Economic Times
   
   
4. Elon Musk’s X appoints new head of safety to oversee content rules
   • What: X, the social platform previously known as Twitter, has appointed a Kylie McRoberts, as the new head of safety to oversee content policies and rules, aiming to address concerns raised by advertisers amidst platform changes.
   • Why: The appointment ensures advertiser safety signal X’s commitment to balancing safety and freedom of speech on its platform.
     Source: Business Standard

Miscellaneous

1. Golden Globe Winner actress, Barbara Rush, passed away
   • What: Barbara Rush, the Golden Globe-winning American actress, passed away at 97.
   • She Won a Golden Globe Award for ‘New Star of The Year’ (Best Actress)
     Source: AP News

2. Katchatheevu Islet
   • What: Katchatheevu is a small islet in the Palk Strait, connecting the Bay of Bengal and the Arabian Sea. It was a disputed territory between Sri Lanka and India, reportedly since 1921.
   • Why in news: Recently PM Modi has raised the issue, that how the islet was handed over to Sri Lanka by Indira Gandhi in 1974.
   • Tell me more:
     • Katchatheevu islet lies to the northeast of Rameswaram (India) and southwest of Jaffna (Sri Lanka)
     • The Maritime Boundary Agreement of June 1974 on historic waters between India and Sri Lanka placed Katchatheevu on the Sri Lankan side.
       • 1974 Maritime Boundary agreement between India and Sri Lanka demarcated maritime boundary between India and Sri Lanka from Palk Strait to Adam’s Bridge.
         Source: The News Minute

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