09th April, 2024

1. Central Coalfields Limited (CCL) launched its new logo with the tagline “Fuelling Sustainable Growth.
2. The Technology Development Board (TDB) under the Department of Science and Technology (DST), Ministry of Science and Technology (MOST), Government of India (GOI) has partnered with Remine India Private Limited.
3. The Centre is learnt to have decided to shrink the land under the jurisdiction of 10 key cantonment boards across five states, and put them under the state local bodies instead.
4. The Supreme Court of India has expanded the scope of Articles 14 and 21 to include the “right against the adverse effects of climate change”.
5. The Union Ministry of Environment, Forest and Climate Change has finally issued a draft notification around the Sukhna Wildlife Sanctuary as an eco-sensitive zone (ESZ) on the Haryana side in Panchkula district.
6. Over the past 8 years, the implementation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) has witnessed significant enrollment, with 56.80 crore farmer applications enrolled.
7. The Reserve Bank of Zimbabwe (RBZ) has introduced the new currency “Zimbabwe Gold (ZIG)” backed by gold and foreign currencies, replacing the local currency Zimbabwe dollars (ZW$) – Real Time Gross Settlement (RTGS) dollar.
8. The Gulf Cooperation Council (GCC) has launched its Vision for Regional Security.
9. China may use artificial intelligence-generated content to manipulate Lok Sabha elections in India following a trial run in the Taiwan presidential poll.
10. Mexico has withdrawn its diplomats from its embassy in Ecuador following the unprecedented storming of the building by security forces.
11. After Chabahar port in Iran, India has gained the rights to operate a second overseas port, Sittwe, in Myanmar. The Ministry of External Affairs (MEA) has approved a proposal for India Ports Global (IPGL) to take over the operations of the entire port located on the Kaladan River.
12. Small Industries Development Bank of India (SIDBI) has entered into an agreement with a fintech firm Onion Life Private Limited to use the latter’s technology platform KarmaLife for a pilot to provide micro loans to gig workers
13. Tata Mutual Fund launched 6 thematic index funds focused on infrastructure, health care, realty, financial services, automobile and manufacturing.
14. Canara Bank and the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay, Mumbai, have signed a Memorandum of Understanding (MoU) to empower startups across India.
15. Artemis Medicare Services Limited (AMSL) has signed a agreement with the International Finance Corporation (IFC) to raise funds of Rs 330 crores through Compulsorily Convertible Debentures (CCDs).
16. On the sidelines of the launch of the report titled “Synchronizing energy transitions towards possible Net-Zero for India: Affordable and Clean Energy for All,” AK Mohanty, Chairman of Atomic Energy Commission (AEC), stated that India aims to produce 100 Gigawatts (GW) of nuclear power by 2047.
17. Association of Mutual Funds of India – Credit Rating Information Services of India Limited (AMFi-CRISIL) released a report titled ‘Mutual Growth’ which states that financial decision-making and labour force participation rate (LFPR) of women are rising in India
18. SpaceX launched ‘Bandwagon-1’, the first rideshare mission to low-Earth orbit.
19. The Southern Ocean is renowned for having the cleanest air on Earth.
20. Prevention of Blindness Week is annually observed in India from April 1st to 7th.
21. United Nations (UN) World Health Day observed globally on April 7.
22. UN’s International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda observed globally on April 7.
23. Max Verstappen, Belgian-Dutch driver for Red Bull, won the Formula 1 (F1) Japanese Grand Prix 2024.
24. Bilquis Mir, known as the aqua woman of Kashmir Valley, a water sports champion of Kayaking & Canoeing from the Kashmir Valley has become the first woman from India to be a jury member at the forthcoming Summer Olympics in Paris 2024.
25. Peter Pellegrini, former PM of Slovakia, wins the Slovakia presidential election 2024, defeating Ivan Korčok with 53% of the vote.
26. Former Irish footballer and manager Joe Kinnear, who coached the Indian National Men’s Football Team in 1983.

National News

1. Central Coalfields Limited Unveils New Logo
   • What: Central Coalfields Limited (CCL) launched its new logo with the tagline “Fuelling Sustainable Growth.”
   • CCL, previously known as National Coal Development Corporation Ltd., is a Category-I Mini-Ratna Central Public Sector Undertaking (CPSU) headquartered in Ranchi, Jharkhand.
   • It is one of the eleven fully owned subsidiary companies of Coal India Limited (CIL).

     Source: PSU Connect

2. Centre to develop plant for recycling lithium-ion batteries, e-waste in Uttarakhand
   • What: The Technology Development Board (TDB) under the Department of Science and Technology (DST), Ministry of Science and Technology (MOST), Government of India (GOI) has partnered with Remine India Private Limited.
   • Why: To establish a commercial plant for recycling lithium-ion (Li-ion) batteries (LIBs) and e-waste using indigenous technology in Sitarganj, Uttarakhand.
   • Tell me more:
     • The project, with a total cost of Rs 15 crore, will be set up in the SIIDCUL Industrial Area in Sitarganj, Udham Singh Nagar district.
       • TDB will provide financial assistance of Rs 7.5 crore.
     • The initiative aims to increase circularity and reduce India’s dependence on imported critical mineral resources.
     • Indigenous technology developed by the Centre for Materials for Electronics Technology (CMET), Hyderabad, Telangana, will be utilized for efficient Li-ion battery recycling.
     • The project will serve as a significant source of secondary raw materials for cell manufacturing in India.
     • Currently, only 5% of LIBs undergo recycling, while 95% end up in landfills.
     • India is the 3rd-largest generator of e-waste globally.
       Source: Lokmat Times

3. Land portions from 10 cantonment boards to be merged with concerned State local bodies
   • What: The Centre is learnt to have decided to shrink the land under the jurisdiction of 10 key cantonment boards across five states, and put them under the state local bodies instead.
     • Cantonment: An area where military troops are garrisoned and is primarily dedicated to housing soldiers. However, civilian populations are also present
   • Why: Undo the colonial legacy, and usher in governance reforms. Civilians living in cantonments will get access to more welfare schemes of the respective state governments. Reduce the strain on the annual defence budget.
   • Tell me more:
     • Currently, there are 61 cantonments in India (6 established after independence).
     • The affected areas, adding up to about 20,000 acres — almost half of the 10 cantonment boards’ combined area of 45,000 acres .
       Source: Indian Express

   
   

4. Right against adverse effects of climate change part of rights to life, equality: Supreme Court
   • What: The Supreme Court of India has expanded the scope of Articles 14 and 21 to include the “right against the adverse effects of climate change”.
   • Why: The court emphasized, “Without a clean environment that remains stable and unaffected by the uncertainties of climate change, the right to life cannot be fully realized.
     Source: Indian Express

5. Centre notifies Sukhna Wildlife Sanctuary eco-sensitive zone on Haryana side
   • What: The Union Ministry of Environment, Forest and Climate Change has finally issued a draft notification around the Sukhna Wildlife Sanctuary as an eco-sensitive zone (ESZ) on the Haryana side in Panchkula district.
   • Why: The Haryana Government had sent a proposal to the ministry that area of 1,000 metres around the sanctuary on the Haryana side be delineated as an ESZ.
   • Tell me more:
     • As per the notification, the ESZ is divided into four zones.

6. Enrolment under PMFBY increase by 27 % in current year so far
   • What: Over the past 8 years, the implementation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) has witnessed significant enrollment, with 56.80 crore farmer applications enrolled.
   • During this period, more than 23.22 crore farmer applicants have received claims, indicating the scheme’s utilization and effectiveness.
   • Farmers have paid approximately Rs. 31,139 crore as their share of premiums, while claims totaling over Rs. 1,55,977 crore have been paid out to them.
   • This translates to farmers receiving about Rs. 500 in claims for every Rs. 100 of premium paid, showcasing the substantial benefits derived from the scheme.
   • The number of farmer applications has shown consistent growth, with increases of 33.4% and 41% year-on-year in 2021-22 and 2022-23, respectively.
   • In the year 2023-24, there has been a further 27% increase in farmers enrolled under the scheme.
   • Notably, 42% of total farmers insured under the scheme in FY 2023-24 are non-loanee farmers, indicating a broad reach and inclusivity of the program.
     Source: PIB

   
   
   
   

International News

1. Zimbabwe launches new gold-backed currency – ZiG
   • What: The Reserve Bank of Zimbabwe (RBZ) has introduced the new currency “Zimbabwe Gold (ZIG)” backed by gold and foreign currencies, replacing the local currency Zimbabwe dollars (ZW$) – Real Time Gross Settlement (RTGS) dollar.
   • Why: It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years.
   • Tell me more:
     • Zimbabwe Gold (ZiG) is supported by a composite basket of foreign currency and precious metals, primarily gold.
     • The new ZiG banknotes come in denominations of between 1 and 200.
     • RTGS dollar experienced significant devaluation, losing 75% of its value in 2024 and nearly 100% against the US dollar in 2023.
     • Zimbabweans have a historic mistrust of the central bank, dating back to 2008, when it was printing Z$10tn notes while inflation had run out of control.
       • It then abolished its own currency and for many years only used foreign banknotes such as the US dollar and the South African rand.
       • In late 2016, the body introduced a new currency called the bond note that was backed by the US dollar loan facility.

         Source: BBC

       
       

   
   

2. Gulf Cooperation Council (GCC) launched its “Vision for Regional Security”
   • What: The Gulf Cooperation Council (GCC) has launched its Vision for Regional Security.
   • Why: This landmark initiative, signifies a profound commitment to ethical values and unity, aiming to build a hopeful and prosperous future for the Gulf region.
   • Tell me more (Key highlights of the Vision)
     • Based on the principles of shared destiny and indivisible security of the member states and any threat to one is a threat to all.
     • Urges member states to combat terrorism, extremism, and money laundering.
     • Activate Arab Peace Initiative to reach a just resolution of Palestinian cause in accordance with 2-state solution.
       Source: Saudi Gazette

   
   
   
   

3. Microsoft released a report about the use of Artificial Intelligence (AI) to disrupt elections
   • What: China may use artificial intelligence-generated content to manipulate Lok Sabha elections in India following a trial run in the Taiwan presidential poll.
   • An analysis by Microsoft Threat Intelligence has revealed that Chinese state-backed cyber groups, with support from North Korea, would also attempt to target polls in the United States and South Korea.
     Source: India Today

   
   
4. Mexico suspends diplomatic ties with Ecuador after police raid in Mexican embassy in Quito
   • What: Mexico has withdrawn its diplomats from its embassy in Ecuador following the unprecedented storming of the building by security forces.
   • Why: The two countries severed their ties after the raid made by Ecuador in a bid to arrest former Ecuadoran Vice President Jorge Glas, who was sheltering at the embassy.
     Source: Aljazeera

   
   
5. India secures second overseas port: Sittwe agreement approved by MEA
   • What: After Chabahar port in Iran, India has gained the rights to operate a second overseas port, Sittwe, in Myanmar. The Ministry of External Affairs (MEA) has approved a proposal for India Ports Global (IPGL) to take over the operations of the entire port located on the Kaladan River.
     • IPGL is a company 100 per cent owned by the Ministry of Ports, Shipping and Waterways.
       Source: Business Standard

   
   

Banking and Economy

1. SIDBI partners with Onionlife Private Limited to pilot micro-loans for gig workers
   • What: Small Industries Development Bank of India (SIDBI) has entered into an agreement with a fintech firm Onion Life Private Limited to use the latter’s technology platform KarmaLife for a pilot to provide micro loans to gig workers
   • Why: To enhance financial inclusion in India’s gig economy, and supports gig workers in managing liquidity needs and assessing credit risk, fostering financial inclusion.
   • Tell me more:
     • KarmaLife platform (owned by Onion life) enables gig workers to access micro-loans via a mobile app, reducing paperwork.
     • The partnership aids SIDBI in understanding and assisting emerging gig workers while assessing credit risk.
       Source: The Hindu Business Line

   
   

2. Tata Mutual Fund launches six sectoral and thematic index funds
   • What: Tata Mutual Fund launched 6 thematic index funds focused on infrastructure, health care, realty, financial services, automobile and manufacturing.
   • New index funds introduced:
     • Tata Nifty Auto Index Fund
     • Tata Nifty Realty Index Fund
     • Tata Nifty Financial Services Index Fund
     • Tata Nifty MidSmall Healthcare Index Fund
     • Tata Nifty 500 Multicap India Manufacturing 50:30:20 Index Fund
     • Tata Nifty 500 Multicap 50:30:20 Infrastructure Index Fund
     • Three of these — Nifty 500 Multicap India Manufacturing 50:30:20 Index Fund, Nifty 500 Multicap 50:30:20 Infrastructure Index Fund and Nifty MidSmall Healthcare Index Fund — are a first in the industry.
       Source: Business Standard

   
   
3. MoU signed between Canara Bank and SINE, IIT Bombay for financing of the Start Up
   • What: Canara Bank and the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay, Mumbai, have signed a Memorandum of Understanding (MoU) to empower startups across India.
   • Tell me more:
     • Partnership aims to support startups under Canara Bank’s Start-Up Scheme, offering financial assistance with attractive returns on investment (ROI) for establishment, promotion, and modernization.
       Source: Canara Bank

   
   
   
   

4. IFC to invest Rs 330 cr in Artemis Medicare Services
   • What: Artemis Medicare Services Limited (AMSL) has signed a agreement with the International Finance Corporation (IFC) to raise funds of Rs 330 crores through Compulsorily Convertible Debentures (CCDs).
   • Why: To support AMSL’s growth plans, enhancing healthcare accessibility and quality.
     Source: Business Standard

Reports and Indices

1. Launch of the report on energy transitions to achieve India’s net-zero targets
   • What: On the sidelines of the launch of the report titled “Synchronizing energy transitions towards possible Net-Zero for India: Affordable and Clean Energy for All,” AK Mohanty, Chairman of Atomic Energy Commission (AEC), stated that India aims to produce 100 Gigawatts (GW) of nuclear power by 2047.
   • The report was prepared by the Indian Institute of Management (IIM) Ahmedabad, Gujarat, as a part of a study project sanctioned by the Office of PSA to GOI in November 2021.
   • Funding for the report primarily came from the Office of Principal Security Advisor (PSA) to GOI, with partial funding from the Nuclear Power Corporation of India Limited (NPCIL).
   • Tell me more:
     • The Department of Atomic Energy (DEA) is drafting a vision document for “Amrit Kaal,” targeting a nuclear capacity of around 1 lakh Megawatts (MW) by 2047.
     • The plan includes:
       • Breed reactors to generate 3 GW of nuclear power.
       • The report suggests that India must build suitable infrastructure for alternative sources like nuclear power to phase down coal usage in the next 30 years.
       • End-users’ electricity consumption is projected to increase from the current 18% to 47-52% of Total Final Electricity Consumption (TFEC)
       • India’s emissions are estimated to range between 0.56 billion tonnes of carbon dioxide (btCO2) and 1.0 btCO2 by 2070.
       • To achieve these goals, the government requires financial funding of about Rs 150-200 lakh crore (USD 40 to 50 billion per year) from 2020 to 2070.
         Source: PIB

2. 98% of urban women involved in household financial decisions: AMFi-CRISIL
   • What: Association of Mutual Funds of India – Credit Rating Information Services of India Limited (AMFi-CRISIL) released a report titled ‘Mutual Growth’ which states that financial decision-making and labour force participation rate (LFPR) of women are rising in India
     • As per the periodic labour force survey participation of women in the labour force has risen to 37 per cent in 2022-23 from 23.3 per cent in 2017-18.
   • Why: The AMFi-CRISIL report suggests that this is because of their experience and understanding of financial products and services.
   • Tell me more:
     • The survey was conducted in October 2023, suggests that the urban labour force has grown from 20.4 per cent in 2017-18 to 25.4 per cent in 2022-23, but surprisingly rural women labour force has grown at a much faster rate from 24.6 per cent to 41.5 per cent during the same five years.
     • Female LFPR rose to 41.5% (PLFS of Oct 2023) against 24.6% five years back.
     • 47% of women take financial decisions on their own.
     • Autonomy of women in taking financial decisions depends on income source, age, and stage of affluence.
     • If we talk about the income source of working women in India, 55 per cent are self-employed while 39 per cent are salaried. Seeing the working women in age brackets suggests, 41 per cent of women between the age group of 25-35 years are working.
     • Women invest 15% of their savings in mutual funds, surpassing the overall household allocation of 8.4%.
     • 51% of women’s savings are invested in fixed deposits, compared to 46% for overall households.
     • Women control approximately 20% of the industry’s assets under management (AUM).
     • In B30 cities, women’s share of AUM increased from 17% in March 2017 to 28% in December 2023. B30 cities include Ajmer, Amritsar, Baroda, Bhubaneshwar, Chandigarh, Ghaziabad, Jaipur, Ludhiana, among others.
     • In T30 cities (Top 30), the AUM growth increased from 15% to 19%.
     • States with the highest AUM share of women investors include Goa (40%), Mizoram (39%), Meghalaya (37%), Nagaland (36%), and Arunachal Pradesh (36%).
     • Women investors in Gujarat, Maharashtra, and Delhi have AUM shares of 32%, 34%, and 33%, respectively.
     • The average share of women investors in AUM across India is 24%.
     • 50% of women investors fall within the age group of 25-44 years.
     • The report concludes that women are increasingly taking control of their finances and making long-term family decisions, with 98% of urban women involved in household financial investments.
       Source: ANI

Science and tech

1. SpaceX launches Bandwagon-1 spacecraft ‘rideshare’ mission from Kennedy Space Center
   • What: SpaceX launched ‘Bandwagon-1’, the first rideshare mission to low-Earth orbit.
   • Launch site: NASA Kennedy Space Center, Florida, USA, using a Falcon 9 rocket.
   • Falcon 9 rocket: World’s First Orbital-class reusable rocket, developed by SpaceX to enhance space program efficiency and reduce costs.
     Source: Florida Today

2. Scientists discover the reason behind the cleanest air in the Southern Ocean region
   • What: The Southern Ocean is renowned for having the cleanest air on Earth.
     • Clean air refers to the low levels of aerosols in the atmosphere.
       • Aerosol is the suspension of fine solid particles or liquid droplets in air.
   • Reason for the low level of aerosols in Southern Ocean region
     • Reduced Human activity in the region, resulting in minimal emissions and fossil fuel usage.
       Source: The Hindu

Important Days

1. April 1-7: Prevention of Blindness Week
   • What: Prevention of Blindness Week is annually observed in India from April 1st to 7th.
   • Aim: Raise awareness about factors leading to blindness and emphasize lifestyle choices and regular eye check-ups.
   • Led by: National Society for the Prevention of Blindness (NSPB)-India.
     Source: News18

2. April 7: World Health Day
   • What: United Nations (UN) World Health Day observed globally on April 7.
   • Purpose: Raise awareness on a global health issue.
   • Celebrates: Founding of WHO in 1948, marking its 76th anniversary in 2024.
   • Theme: ‘My health, my right’ for 2024.
     Source: Hindustan Times
3. April 7: International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda
   • What: UN’s International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda observed globally on April 7.
   • Purpose: Honour victims of the 1994 genocide.
   • Remembrance: Honors Tutsi community, Hutus, and others who opposed the genocide.
   • 30th anniversary: April 7, 2024, marks the 30th anniversary of the genocide against the Tutsi in Rwanda.
   • On 7th April 2024, to express solidarity with Rwanda, India illuminated the Qutub Minar in the colors of the Rwanda’s official flag to commemorate the 30th anniversary of the Rwandan genocide that took place in 1994.
     Source: The Tribune

Sports

1. F1 – Japanese Grand Prix – 2024
   • What: Max Verstappen, Belgian-Dutch driver for Red Bull, won the Formula 1 (F1) Japanese Grand Prix 2024.
   • Venue: Held at Suzuka International Racing Course in Suzuka, Japan
   • Sergio Perez of Red Bull (Mexico) secured second place, while Carlos Sainz Jr. of Ferrari (Spain) took third place.

Appointments

1. Kashmir’s Bilquis Mir becomes first Indian woman to be jury at Paris Olympics, 2024
   • What: Bilquis Mir, known as the aqua woman of Kashmir Valley, a water sports champion of Kayaking & Canoeing from the Kashmir Valley has become the first woman from India to be a jury member at the forthcoming Summer Olympics in Paris 2024.
   • She was also the only Indian woman and the first from Jammu and Kashmir to be appointed as a jury member at the 19th Asian Games held at Hangzhou in China.

Source: WION

2. Peter Pellegrini elected Slovakia’s new President
   • What: Peter Pellegrini, former PM of Slovakia, wins the Slovakia presidential election 2024, defeating Ivan Korčok with 53% of the vote.
     Source: The New York Times

Miscellaneous

1. Former Irish footballer and manager Joe Kinnear passed away
   • What: Former Irish footballer and manager Joe Kinnear, who coached the Indian National Men’s Football Team in 1983.
   • Managed football teams of India and Nepal
     Source: The Telegraph

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