13th-14th April, 2024

1. NTPC Limited, India’s largest integrated power company, has launched the latest edition of Girl Empowerment Mission (GEM), its flagship Corporate Social Responsibility (CSR) initiative.
2. India is helping Nepal, Maldives, Sri Lanka, Bangladesh and Mauritius develop early warning systems to reduce the loss of life and property due to extreme weather events.
3. Ministry of Mines, Government of India organized a Special Webinar today for Start-ups, MSMEs, and Individual Innovators working in the Mining & Metallurgical sector to explore avenues for advancing research and innovation in mining and mineral processing.
4. The government has come up with a new platform to disburse subsidies to horticulture farmers under the Cluster Development Programme (CDP) — the Centre’s initiative to promote horticulture crops. The platform is known as CDP-SURAKSHA.
5. In a significant milestone, the Eurasian otter—a rare aquatic species—was radio-tagged for the first time in India at the Satpura Tiger Reserve (STR) in Madhya Pradesh.
6. In a groundbreaking conservation endeavour, the Global Society for the Preservation of Baobabs and Mangroves (GSPBM) has initiated a mission to rejuvenate the iconic baobab trees. These ancient giants, threatened by deforestation and climate change, are receiving a lifeline through seedling transplantation.
7. Nearly 11 months since rival generals declared war in Sudan, UN humanitarians have issued a dire warning: the conflict risks triggering “the world’s worst hunger crisis”. The northeast African country is already grappling with the world’s largest displacement crisis, as noted by the UN World Food Programme (WFP).
8. IndusInd International Holdings, the Mauritius-based Investment Holding Company of the Hinduja Group, has entered into an agreement to acquire 60 per cent stake in Invesco Asset Management India for undisclosed amount.
9. The Karnataka Bank has collaborated with FISDOM to offer 3-in-1 (savings, demat and trading accounts) through the bank’s mobile banking app, KBL Mobile Plus.
10. As per Global financial stability report 2024, the risk of extreme losses from cyber incidents is increasing. Such losses could potentially cause funding problems for companies and even jeopardize their solvency.
11. Rating agency ICRA revised its outlook for Indian banks to “stable” from “positive” for Financial Year 2024-25 (FY25).
12. The Plastic Overshoot Day 2024 report, recently released by Earth Action, sheds light on the global plastic pollution crisis.
13. The 2024 Corporate Climate Responsibility Monitor (CCRM), jointly conducted by the New Climate Institute and Carbon Market Watch, critically assesses the climate strategies of 51 major global companies.
14. India’s share of the global pool of Web3 developers has increased from 3 per cent in 2018 to 12 per cent in 2023, and India has the highest share of Web3 developers among the emerging markets, according to a report by Hashed Emergent, a web3 venture capital firm.
15. Moody’s Analytics report titled “APAC Outlook: Listening Through the Noise” forecasts India’s GDP to decline to 6.1% in 2024 from 7.7% growth in 2023.
16. Russia’s space agency, Roscosmos, successfully launched the first Angara-A5 space rocket from Vostochny Cosmodrome in the Amur region.
17. The merger officially designated as GW230529 was detected by the LIGO-Virgo-Kagra collaboration in 2023.
18. 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.
19. Avi Wigderson, an Israeli mathematician and computer scientist, has been awarded the 2023 ACM A.M. Turing Award, known as the “Nobel Prize of Computing” by the Association for Computing Machinery (ACM).
20. The Toronto (Canada) based Gairdner Foundation honored Indian microbiologist and virologist Gagandeep Kang with the John Dirks Canada Gairdner Global Health Award 2024 for her achievements in global health research.
21. The International Day for Street Children (IDSC) is annually observed across the globe on 12 April to raise awareness about the challenges faced by millions of children living on the streets worldwide.
22. The International Day of Human Space Flight is celebrated on April 12. The day is celebrated to honor the first person, Yuri Gagarin, to go to space.
23. Anupama Upadhyaya and Tharun Mannepalli from India clinched the women’s and men’s singles titles at the Kazakhstan International Challenge 2024 Badminton tournament held in Uralsk, Kazakhstan.
24. The Department of Higher Education has appointed the four persons as members of the University Grants Commission (UGC), India’s regulator for higher education.
25. Vietnam’s Vice-President Vo Thi Anh Xuan, aged 54, was appointed Interim President of Vietnam.
26. Iceland has appointed Bjarni Benediktsson to replace Katrín Jakobsdóttir as Prime Minister after she resigned to run in the country’s upcoming presidential election.
27. Apple has issued warnings to users in India and other countries of potential “mercenary spyware” attacks.
28. A recent joint statement from Japan and the USA firmly opposes any unilateral attempts by China to alter the status quo of the Senkaku Islands.
29. Reports highlighted that artists of Kuchipudi dance struggling for survival

National News

1. NTPC launches new edition of Girl Empowerment Mission
   • What: NTPC Limited, India’s largest integrated power company, has launched the latest edition of Girl Empowerment Mission (GEM), its flagship Corporate Social Responsibility (CSR) initiative.
   • Tell me more:
     • The program aligns with the Government of India’s Beti Bachao, Beti Padhao initiative and aims to tackle gender inequality by nurturing girls’ imaginations and fostering their ability to explore opportunities.
     • GEM does this through a 1-month workshop for young girls during summer holidays, by offering them a platform for their all-round upliftment and development.
     • Starting from April 2024, the new edition will add nearly 3,000 meritorious children belonging to underprivileged sections of the society at 42 identified locations of the NTPC. With this, the total number of children benefiting from the Mission will cross 10,000.
     • GEM started as a pilot project in 2018 with three locations and has since expanded nationwide.
     • The program focuses on holistic skill development, confidence-building, and mentorship to empower girls as catalysts for change, impacting themselves, their families, communities, and the nation.
       Source: PIB

2. Govt assisting five nations develop early warning systems, says IMD chief
   • What: India is helping Nepal, Maldives, Sri Lanka, Bangladesh and Mauritius develop early warning systems to reduce the loss of life and property due to extreme weather events.
   • Tell me more:
     • India’s efforts are part of the ‘Early Warnings for All’ initiative announced by the United Nations in 2022 to ensure that everyone is protected from hazardous weather, water or climate events through life-saving early warning systems by the end of 2027.
       • EWS: An integrated system of hazard monitoring, forecasting etc. and processes enabling individuals, governments to take timely action reducing disaster risks.
     • India is helping five of the 30 countries identified across the world for the first phase of the initiative of establishing early warning systems.
       Source: Business Standard

3. Ministry of Mines organizes Mining Start-up Webinar to promote Research and Innovation in Mining and Mineral Processing
   • What: Ministry of Mines, Government of India organized a Special Webinar today for Start-ups, MSMEs, and Individual Innovators working in the Mining & Metallurgical sector to explore avenues for advancing research and innovation in mining and mineral processing.
   • Tell me more:
     • The ministry launched “Promotion of Research and Innovation in Start-ups and MSMEs in mining, mineral processing, metallurgy and recycling sector (S&T-PRISM)” in November, 2023 to fund research and innovation in starts up and MSMEs which are working in the field of mineral sector, applied and sustainable aspect of mining and industrial applications.
     • It is expected that this will bridge up the gap between R&D and commercialization as also to promote the ecosystem for a complete value chain in mining and mineral sector.
     • Implementing agency: Jawaharlal Nehru Aluminium Research Development and Design Centre, Nagpur, an autonomous body under the administrative control of Ministry of Mines is implementing agency for S&T – PRISM.
       Source: PIB

4. CDP-SURAKSHA, govt’s new digital platform to disburse subsidies to horticulture farmers
   • What: The government has come up with a new platform to disburse subsidies to horticulture farmers under the Cluster Development Programme (CDP) — the Centre’s initiative to promote horticulture crops. The platform is known as CDP-SURAKSHA.
   • Why: The move seeks to push the growth of India’s horticulture sector
   • Tell me more:
     • The CDP-SURAKSHA is essentially a digital platform. SURAKSHA stands for “System for Unified Resource Allocation, Knowledge, and Secure Horticulture Assistance.”
     • The platform will allow an instant disbursal of subsidies to farmers in their bank account by utilising the e-RUPI voucher.
     • The CDP-SURAKSHA has features such as database integration with PM KISAN cloud-based server space from NIC, UIDAI validation, eRUPI integration, local government directory (LGD), content management system, geotagging, and geo-fencing.
     • CDP-SURAKSHA allows access to farmers, vendors, Implementing Agencies, Cluster Development Agencies etc.
     • Launched by: Ministry of Agriculture and Farmers Welfare
     • Implemented by: National Horticulture Board
       Source: Indian Express

State News

1. Discovery of Eurasian Otter, one of the rarest Indian mammals in Madhya Pradesh
   • What: In a significant milestone, the Eurasian otter—a rare aquatic species—was radio-tagged for the first time in India at the Satpura Tiger Reserve (STR) in Madhya Pradesh.
     • This groundbreaking initiative was carried out jointly by the STR and the Wildlife Conservation Trust (WCT).
   • Tell me more:
     • The Eurasian otter, scientifically known as Lutra lutra, has a wide distribution spanning Europe, Africa, and Asia. It is listed as Near Threatened on the IUCN Red List.
     • Historically, this species has either gone extinct in several regions or dwindled to small, isolated populations.
     • India is home to three otter species:
       • Smooth-coated otter (Lutrogale perspicillata)
       • Asian small-clawed otter (Aonyx cinerea)
       • Eurasian otter (Lutra lutra)
         Source: MP Forest

International News

1. Baobab reforestation efforts show rapid impact in Madagascar
   • What: In a groundbreaking conservation endeavour, the Global Society for the Preservation of Baobabs and Mangroves (GSPBM) has initiated a mission to rejuvenate the iconic baobab trees. These ancient giants, threatened by deforestation and climate change, are receiving a lifeline through seedling transplantation.
     Source: Down To Earth

   
   

2. Sudan Conflict
   • What: Nearly 11 months since rival generals declared war in Sudan, UN humanitarians have issued a dire warning: the conflict risks triggering “the world’s worst hunger crisis”. The northeast African country is already grappling with the world’s largest displacement crisis, as noted by the UN World Food Programme (WFP).
     Source: Reuters

Banking and Economy

1. IndusInd Intl Holdings buys 60% in Indian arm of Invesco
   • What: IndusInd International Holdings, the Mauritius-based Investment Holding Company of the Hinduja Group, has entered into an agreement to acquire 60 per cent stake in Invesco Asset Management India for undisclosed amount.
   • Tell me more:
     • Invesco, the existing promoter, will hold the remaining 40 per cent stake in the joint venture company and both IIHL and Invesco will have sponsor status of the mutual fund house.
     • With an AUM of ₹85,393 crore, IAMI is the 17th largest domestic asset manager in India and has presence in 40 cities across the country.
     • IIHL is the promoter entity of IndusInd Bank, the fifth-largest private-sector bank in India.
       Source: The Hindu Business Line

2. Karnataka Bank joins hands with FISDOM to offer stock broking services
   • What: The Karnataka Bank has collaborated with FISDOM to offer 3-in-1 (savings, demat and trading accounts) through the bank’s mobile banking app, KBL Mobile Plus.
   • This strategic association is all set to enhance the current value proposition of enabling customers to invest in stocks and mutual funds.
   • Tell me more:
     • This offering will empower its customers with seamless access to both investment opportunities and trading functionalities, all within a single, user-friendly interface.
     • The 3-in-1 facility enables customers to streamline their investment journey by consolidating their demat and trading accounts. This integration eliminates the need for multiple platforms, simplifying account management and enhancing overall user experience.
       Source: Business Standard
3. Rising Cyber Threats Pose Serious Concerns for Macro-Financial Stability, warns IMF
   • What: As per Global financial stability report 2024, the risk of extreme losses from cyber incidents is increasing. Such losses could potentially cause funding problems for companies and even jeopardize their solvency.
   • Tell me more:
     • Risk of extreme losses from cyber incidents has increased to $2.5 billion.
     • Number of cyberattacks has almost doubled since COVID-19 pandemic.
     • Attacks on financial firms account for nearly one-fifth of total, of which banks are most exposed.

   • Reasons Behind Rising Cyber Incidents in Financial Sector
     • Increased digital financial services offer target-rich environment for hackers.
     • Insider threats i.e. users have authorized access to assets and misuse their privileges deliberately or accidentally for monetary gain.
     • Cybersecurity skills gap leaving financial firms vulnerable to cyber threats.
     • Geopolitical tensions. E.g. Surge in cyber-attack after Russia’s invasion of Ukraine.

   • Impact of Cyber Attacks on Macro-financial Stability
     • Data breach lead to loss of confidence in viability of targeted institution, resulting in high deposit outflows.
     • Cyber-attacks on payment networks can halt trading, online banking etc., and undermine country’s financial stability.
     • Cyber-attacks propagate rapidly within a network of financial systems through financial linkages, thus impacting market stability.

   • Policy Recommendations
     • Strengthen reporting of cyber incidents by financial firms to supervisory agencies.
     • Financial firms should develop and test response and recovery procedures to remain operational in face of cyber incidents.
       Source: IMF

4. ICRA revises FY25 outlook for banking sector to ‘stable’ from ‘positive’
   • What: Rating agency ICRA revised its outlook for Indian banks to “stable” from “positive” for Financial Year 2024-25 (FY25).
     • The sector’s overall profile is expected to remain healthy.
     • Credit Rating is an assessment of the ability of a borrower to pay his/her dues in full and on time.

   • Why: It cited moderation in credit growth and profitability due to decline in interest margins as the reason for downgrade.
     Source: Business Standard
   
   
   
   
   
   

Reports and Indices

1. Plastic Overshoot Day: Report 2024
   • What: The Plastic Overshoot Day 2024 report, recently released by Earth Action, sheds light on the global plastic pollution crisis.
   • Tell me more (Key findings)
     • Global
       • In 2024, 220 million tonnes of plastic waste will be created.
       • Plastic waste has risen by 7.11% since 2021.
       • 12 countries are responsible for 60% of world’s mismanaged plastic waste. Top three are China, India, and Russia.
     • India specific data
       • Classified as one of Low-Waste-Producing Polluters.
       • Mismanaged waste Index (MWI) is very high (68.62%).
       • Annual per capita plastic waste production is 8 kg per capita per year.
       • Amount of plastic waste exported is lower than imported.
         Source: e.a.earth

2. 2024 Corporate Climate Responsibility Monitor (CCRM) report released
   • What: The 2024 Corporate Climate Responsibility Monitor (CCRM), jointly conducted by the NewClimate Institute and Carbon Market Watch, critically assesses the climate strategies of 51 major global companies.
   • Tell me more (Key findings)
     • Collective Ambition and Targets:
       • Over the past two years, the collective ambition of companies’ 2030 and net-zero climate targets has gradually improved.
       • However, most companies still fall short of the economy-wide emission reductions necessary to limit global warming to below 1.5°C.
         Source: Economic Times

3. India’s Web3 developer share surges to 12% globally, leads emerging markets: Report
   • What: India’s share of the global pool of Web3 developers has increased from 3 per cent in 2018 to 12 per cent in 2023, and India has the highest share of Web3 developers among the emerging markets, according to a report by Hashed Emergent, a web3 venture capital firm.
   • Tell me more:
     • The Web3 developer ecosystem remains relatively young, with more than 50 per cent of developers joining in the past two years. Female participation has also seen a rise, increasing from 3 to 14 per cent over the past five years.
     • India claimed the top spot for on-chain adoption in 2023 among 150 countries. More than 35 million trading accounts are on the top Indian exchanges.
     • India has one of the largest Web3 ecosystems globally, with 1,000 startups.
     • The sector received $250 million in investment in 2023.
     • Although there was a decline in total funding compared to 2022, the number of deals remained flat.
     • There’s sustained interest in early-stage Web3 startups, particularly in finance, entertainment, and infrastructure subsectors.
       Source: The Hindu Business Line

GDP Forecasts

1. Moody’s Analytics forecasts India’s economy to grow by 6.1% in 2024
   • What: Moody’s Analytics report titled “APAC Outlook: Listening Through the Noise” forecasts India’s GDP to decline to 6.1% in 2024 from 7.7% growth in 2023.
   • Tell me more:
     • Output in India remains 4% lower than it would have been without the COVID-19 pandemic, impacted by supply disruptions and global military conflicts.
     • Economies in South and South-East Asia are expected to witness strong output gains in 2024, but their performance is influenced by delays in post-pandemic rebound.
     • The overall Asia Pacific (APAC) region is projected to grow by 3.8% in 2024, while the global economy is expected to grow by 2.5%.
     • There is more uncertainty for China and India regarding inflation, with India’s Consumer Price inflation rate around 5%, close to the RBI’s target range of 2% to 6%, showing no signs of slowing price pressures.
       Source: Business Standard

Science and Tech

1. Russia Launches First Angara-A5 Space Rocket From Far East Cosmodrome
   • What: Russia’s space agency, Roscosmos, successfully launched the first Angara-A5 space rocket from Vostochny Cosmodrome in the Amur region.
   • Why: Aim is to replace the Proton M as Russia’s heavy-lift rocket.
   • Tell me more:
     • The launch coincided with Russia’s Cosmonaut Day on April 12, commemorating Yuri Gagarin’s historic spaceflight in 1961.
     • Angara-A5 is part of the Angara Rocket Series, named after the Angara River in Siberia.
       • The Angara rocket family derives its name from the Angara River, originating from Lake Baikal in Siberia.
     • Russia initiated the Angara Project in 1991 post-Soviet Union dissolution to diminish reliance on the Baikonur Cosmodrome, leased from Kazakhstan until 2050.
       Source: US News

2. Gravitational waves (GW) reveal 1st-of-its-kind merger between neutron star and mystery object
   • What: The merger officially designated as GW230529 was detected by the LIGO-Virgo-Kagra collaboration in 2023.
   • This gravitational wave (GW) event resulted from the merging of two objects: a neutron star, formed when a massive star exhausts its fuel and collapses, and a mysterious object falling within the “mass gap.”
   • Tell me more:
     • The mass gap refers to the range of masses lying between the heaviest known neutron star and the lightest known black hole. Gravitational waves are ripples in spacetime, predicted by Einstein’s General Theory of Relativity in 1916, which propagate in all directions away from their source at the speed of light.
     • Gravitational Waves are generated by cataclysmic events such as colliding black holes, exploding stars at the end of their life cycles, and merging neutron stars. The first detection of GWs occurred in 2015 at the Laser Interferometer Gravitational-Wave Observatory (LIGO).
     • These waves carry valuable information about their origins, providing clues to the nature of gravity itself, and revealing aspects of the universe that are inaccessible to electromagnetic waves.
       Source: Indian Express
3. Indian entrepreneur Gopi Thotakura to fly to space as a tourist
   • What: 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.
   • Mr. 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.
   • The flight date is yet to be announced.
     Source: The Hindu

Awards

1. 2023 ACM A.M. Turing awards
   • What: Avi Wigderson, an Israeli mathematician and computer scientist, has been awarded the 2023 ACM A.M. Turing Award, known as the “Nobel Prize of Computing” by the Association for Computing Machinery (ACM).
   • He received the award for his foundational contributions to the theory of computation, particularly in reshaping the understanding of randomness in computation and mathematics, and for his intellectual leadership in theoretical computer science.
   • The ACM A.M. Turing Award comes with a cash prize of USD 1 million.
     Source: ACM

2. John Dirks Gairdner global health award given to Dr Gagandeep Kang
   • What: The Toronto (Canada) based Gairdner Foundation honored Indian microbiologist and virologist Gagandeep Kang with the John Dirks Canada Gairdner Global Health Award 2024 for her achievements in global health research.
     • She is the first Indian woman to get this award.
   • Why: She was honored for her extensive cohort-based epidemiological, environmental and clinical trial research on enteric diseases in children and their effects on life course, with a significant impact on vaccine development and health policy in India and internationally.
     Source: The Indian Express

Important Days

1. April 12: The International Day for Street Children (IDSC)
   • What: The International Day for Street Children (IDSC) is annually observed across the globe on 12 April to raise awareness about the challenges faced by millions of children living on the streets worldwide.
   • Organized by: Consortium for Street Children (CSC).
   • Theme for 2024: “Belonging.”
     • The 2024 theme centers on fostering a sense of belonging for street-connected children within their communities, countries, and cultures.
       Source: Consortium for Street Children

2. April 12: International Day of Human Space Flight
   • What: The International Day of Human Space Flight is celebrated on April 12. The day is celebrated to honor the first person, Yuri Gagarin, to go to space.
     Source: CNBC TV18

Sports

1. Badminton: Kazakhstan International Challenge – 2024
   • What: Anupama Upadhyaya and Tharun Mannepalli from India clinched the women’s and men’s singles titles at the Kazakhstan International Challenge 2024 Badminton tournament held in Uralsk, Kazakhstan.
   • Tell me more (List of winners)

Source: Times of India

Appointments

1. New members appointed to UGC panel
   • What: The Department of Higher Education has appointed the four persons as members of the University Grants Commission (UGC), India’s regulator for higher education.
   • With these appointments, the strength of UGC reached to eight members from just four.
   • Tell me more:
     • National Stock Exchange CEO and managing director Ashish Kumar Chauhan
     • Zoho founder Sridhar Vembu
     • Sachidananda Mohanty, former vice chancellor of the Central University of Odisha.
     • Shashikala Gulabrao Wanjari, the Vice chancellor of the National Institute of Educational Planning and Administration.
     • All the appointments are made for a duration of three years, or till further orders.
       Source: The Hindu

2. Vo Thi Anh Xuan appointed as interim President of Vietnam
   • What: Vietnam’s Vice-President Vo Thi Anh Xuan, aged 54, was appointed Interim President of Vietnam.
   • Why: Former President, Vo Van Thuong has resigned amid a corruption purge that has fuelled concerns about political stability in the country.
     Source: Financial Times

3. Iceland appoints Bjarni Benediktsson to replace Katrín Jakobsdóttir as PM
   • What: Iceland has appointed Bjarni Benediktsson to replace Katrín Jakobsdóttir as Prime Minister after she resigned to run in the country’s upcoming presidential election.
     Source: The Guardian

Miscellaneous

1. Mercenary Spyware
   • What: Apple has issued warnings to users in India and other countries of potential “mercenary spyware” attacks.
   • About Mercenary Spywares:
     • Mercenary spywares are designed to remotely infiltrate and compromise smartphones and other devices without the knowledge or consent of the users.
     • These target specific individuals and can be used to monitor movements, communications and steal private data.
     • Some of mercenary spywares include Pegasus, FinSpy and Galileo.
       Source: WION
2. Senkaku Islands
   • What: A recent joint statement from Japan and the USA firmly opposes any unilateral attempts by China to alter the status quo of the Senkaku Islands.
   • These islands, known as Diaoyu in Chinese, have been a point of contention between Japan and China for a long time. Situated about 410 km west of Okinawa Island in the East China Sea, the Senkaku Islands consist of several islets, with Uotsuri Island being the largest among them.
     Source: White House

3. Reports highlighted that artists of Kuchipudi dance struggling for survival
   • About Kuchipudi
     • Classical Indian dance form, originated in the Kuchipudi village of Andhra Pradesh.
     • Siddhendra Yogi, a Vaishnava poet and visionary, conceived the Kuchipudi style of Yakshagaana (folk dance of Karnataka) in the 17th century.
       Source: The Hindu

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