Current Affairs 16 April 2024

We are here for you to provide the important Recent and Latest Current Affairs 16 April 2024, which have unique updates of Latest Current Affairs 2024 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

India lost 2.33 million hectares of tree cover since 2000: Global Forest WatchAccording to the Global Forest Watch (GFW) monitoring project data, India has lost 2.33 million hectares (Mha) of tree cover since 2000 which is equivalent to a 6% decrease in tree cover during 2001-2023.
Key Findings:
i.The data showed that India lost 4,14,000 hectares(414 Thousand hectares (Kha)) of humid primary forest(4.1%) from 2001 to 2023 which is 18% of its total tree cover loss in the same period.
ii.Assam saw the most tree cover loss at 3,24,000 hectares(324kha) compared to average of 66.6kha, followed by Mizoram(312kha), Arunachal Pradesh(262kha), Nagaland(259kha) and Manipur(240kha).
iii. Arunachal Pradesh had the most tree cover at 6.11million hectares(6.11Mha) compared to an average of 957 kha, then followed by Assam(2.57Mha), Chhattisgarh(2.28 Mha), Kerala(2.28Mha) and Odisha(1.92Mha).
About Global Forest Watch:
Global Forest Watch is an initiative of World Resources Institute(WRI) launched in 2014 in partnership with Google, USAID(United States Agency for International Development), among others.
>> Read Full News

MoA&FW Introduced ‘CDP-SURAKSHA’, a Digital Platform to Disburse Subsidies to Horticulture FarmersThe Ministry of Agriculture & Farmers Welfare (MoA&FW) introduced a digital platform called CDP-SURAKSHA (Cluster Development Programme – System for Unified Resource Allocation, Knowledge, and Secure Horticulture Assistance) to disburse subsidies to horticulture farmers under the CDP.
Note: CDP, launched by MoA&FW, is a central sector scheme of the National Horticulture Board (NHB) which aims to reform agriculture markets and promote the horticulture sector
About CDP-SURAKSHA:
The CDP-SURAKSHA  will allow an instant disbursal of subsidies to farmers in their bank account by utilising the e-RUPI (electronic rupee/e-Rupee) voucher from the National Payments Corporation of India (NPCI).
Features:
Database integration with PM-KISAN(Pradhan Mantri Kisan Samman Nidhi), cloud-based server space from NIC(National Informatics Centre), UIDAI(Unique Identification Authority of India) validation, eRUPI integration, local government directory (LGD), content management system, geotagging, and geo-fencing.
Working: 
i.The platform allows access to farmers, vendors, implementing agencies (IA), and cluster development agencies (CDAs), and officials of the NHB.
ii.Farmers can order planting materials like seeds, seedlings, and plants based on their needs and pay their share of the cost of planting materials. The subsidy amount paid by the GoI will appear on the screen and an e-voucher will be generated.
iii.The vendor will receive the voucher and provide the required materials to the farmers.
Note:
i.The e-RUPI voucher is a one-time payment mechanism that can be redeemed without a card, digital payments app or internet banking access, at the merchants accepting e-RUPI.
ii.The e-RUPI can be shared with the beneficiaries for a specific purpose or activity by organisations or the government via SMS or QR code.

INTERNATIONAL AFFAIRS

India Among 12 Nations Responsible for 60% of world’s mismanaged plastic waste: EA ReportAccording to the EA Earth Action’s 2024 report titled “Plastic Overshoot Day- September 5, 2024” , India is among the top 12 nations that contribute to around 60% of  world’s mismanaged plastic waste.

• The 12 countries are China, India, Russia, Brazil, Mexico, Vietnam, Iran, Indonesia, Egypt, Pakistan, the United States of America(USA) and Türkiye.

i.India’s per capita plastic waste production stands at 8 kg per capita per year, one of the world’s lowest.
ii.Plastic Overshoot Day marks when plastic waste surpasses waste management capacity, causing environmental pollution.

• For 2024, Plastic Overshoot Day, globally, is projected to be on September 5th, 2024. India’s Plastic Overshoot Day is expected on April 23rd, 2024.

About EA Earth Action:
EA Earth Action is a non-profit organization that provides environmental research, consulting, and solutions.
Co-CEOs– Julien Boucher and Sarah Perreard
Headquarters– Lausanne, Switzerland
Established in 2013
>> Read Full News

BANKING & FINANCE

Indian Fintech Startup Funding surges 59% in Q1CY2024: Tracxn reporti.According to Tracxn Geo Quarterly Report by market intelligence platform Tracxn, in first quarter (Q1) of Calendar Year (CY) 2024 (Q1CY2024), Indian fintech startups raised USD 550.8 million across 33 deals, marking a 59% increase from Q4 2023’s USD 346.7 million raised in 53 deals.
ii.Despite this surge, funding declined on a year-on-year (Y-o-Y) basis by 57% compared to Q12023’s USD 1.3 billion.
iii.India ranked 3rd globally in fintech funding, behind the United States (US) and China.
iv.Bengaluru, Karnataka topped the fintech funding in Q1 2024, followed by Mumbai, Maharashtra and Hyderabad, Telangana showcasing their importance as fintech hubs.
About Tracxn:
Chairperson and Managing Director– Neha Singh
Headquarters– Bengaluru, Karnataka
>> Read Full News

PayU partners with PayPal to enhance cross border payments for Indian merchants
PayU, a leading online payment solution, has announced its partnership with PayPal, an American multinational fintech company. The strategic partnership aims to improve the cross border payment experience for Indian merchants.
i.PayU will leverage PayPal ISU2.0 API(Application Programming Interface) to provide customers access to more personalized , secure and inclusive payment experience.
ii.It will provide a more efficient merchant onboarding process which is directly linked with PayU dashboard. Also, it will allow Indian merchants to open accounts with PayPal, using an Artificial intelligence (AI)-driven approach that reduces drop-offs and enables real-time activation.
iii.It will offer customers various payment methods at checkout like: PayPal, PayPal Pay later, and various local Alternative Payment Methods(APMs).
About PayPal:
Chairman: John J. Donahoe
Headquarters: California, United States of America(U.S.A.)
Established: 1998

AWARDS & RECOGNITIONS

CNS R. Hari Kumar presented Gallantry, Distinguished Service Awards to Naval personnelOn April 14, 2024, Admiral Radhakrishnan Hari Kumar, Chief of the Naval Staff (CNS), presided over a Naval Investiture Ceremony at INS Hansa (Indian navy’s air station), Goa, presenting Gallantry and Distinguished Service awards to Naval personnel on behalf of President of India Droupadi Murmu.
Key Points:
i.35 personnel received awards recognizing bravery, leadership, professional achievements, and distinguished service.
ii.Notable recipients included commander (Cdr) Manish Singh Karki, Cdr Kaustab Banerjee, Lieutenant (Lt) Cdr Panneerselvam Vishnu Prasanna, and Lt Cdr Bhaskar, who were awarded Nao Sena Medals (Gallantry).
iii.The CNS Trophy for Best Green Practices 2023 was awarded to Naval Dockyard, Mumbai, Maharashtra and INS (Indian Naval Ship) Valsura.
iv.Unit Citations were awarded to various Naval units, including INS Teg, INS Kolkata, INS Karmuk, INS Sumedha, INS Sumitra, and INS Sharda, submarine INS Sindhukesari, flight squadron INAS 550, and shore establishments Chilka, Circars, Eksila, Dronacharya, and Naval Ship Repair Yard (Karwar).
v.The CNS also presented the Lt VK Jain Memorial Gold Medal 2024 to Shubham Hira for pioneering research in weapon improvement and electrical engineering and the Capt Ravi Dhir Memorial Gold Medal 2024 awarded to Tabsheer Ahmed Wani for promoting flight safety.

APPOINTMENTS & RESIGNATIONS

IMF Reappoints Kristalina Georgieva as MD of IMF for 2nd TermThe International Monetary Fund(IMF) Executive Board reappointed Bulgarian Economist Kristalina Georgieva as Managing Director(MD) of IMF for a 2nd five-year term starting on 1st October 2024.

• She has been serving as the 12th MD of IMF since 2019. Her current tenure is set to end on 30th September 2024.

About Kristalina Georgieva:
i.Kristalina Georgieva worked as an Assistant Professor at the University of National and World Economy(UNWE) between 1977 and 1993.
ii.In 1993, she joined the World Bank (WB) as an environmental economist.
iii.She served as the Vice-President of the European Commission from November 2014 to December 2016.

• She also served as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response at the European Commission and as Vice-President for Budget and Human Resources.

iv. She served as the Chief Executive Officer(CEO) of the World Bank from January 2017 to September 2019.

• She also served as the interim President of WB from February 2019 to April 2019.

v.In September 2019 she was appointed as the MD of the IMF and became the 2nd woman to head the IMF after Christine Lagarde, who served as MD of the IMF from 2011 to 2019.
Awards:
i.She was named “European of the Year” and “Commissioner of the Year” in 2010 by the European Voice for her contribution in the EU’s response to humanitarian crises.
ii.She received the Atlantic Council’s Distinguished International Leadership Award in 2020, in recognition of her exemplary work during her career of public service.
About International Monetary Fund(IMF):
Managing Director- Kristalina Georgieva
Headquarters: Washington D.C., the United States of America (USA)
Established in 1944, formed after the Bretton Woods Conference held in 1944 in USA
Member nations- 190

ACQUISITIONS & MERGERS

Larsen & Toubro Concludes Divestment of its Entire Stake 51% in L&T IDPL
On April 11 2024, Larsen & Toubro (L&T) has announced the completion of divestment of L&T Infrastructure Development Projects Limited (L&T IDPL), a joint venture between Larsen & Toubro Limited and the Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively.

• The stakes from L&T and CPP investment were acquired by Epic Concesiones Private Limited, an investee company of Edelweiss Infrastructure Yield Plus Strategy, managed by Edelweiss Alternative Asset Advisors Limited (EAAA).
• This is in line with L&T’s strategy to exit non-core businesses for reducing its exposure to the asset-heavy developmental projects portfolio and enhance its Return on Equity.
• This transaction marks the achievement of a significant milestone towards the execution of our strategic Lakshya 2026 plan.
•  In India, L&T IDPL has been in the forefront of the Public-Private-Partnership (PPP) model for developing infrastructure.

Note: Larsen & Toubro is an Indian multinational engaged in EPC (Engineering, Procurement, and Construction) Projects, Hi-Tech Manufacturing and Services.

SCIENCE & TECHNOLOGY

DRDO & Indian Army Successfully Conducted Flight Trials of MPATGM Weapon SystemOn 13th April 2024, the Indian Army and the Defence Research and Development Organisation(DRDO) successfully conducted the warhead flight trials of the Man Portable Anti-tank Guided Missile (MPATGM) Weapon System at the Pokhran Field Firing Range(PFFR) in Jaisalmer district, Rajasthan.

• The system is now ready for Final User Evaluation Trials before induction into the Indian Army.

About MPATGM Weapon system:
i.MPATGM Weapon system includes a MPATGM, Launcher, Target Acquisition System(TAS)and Fire Control Unit(FCU).
ii.MPATGM was indigenously designed and developed by DRDO in partnership with Hyderabad, Telangana based VEM Technologies Private Limited.
Points to note:
i.The firing trials were conducted towards achieving compliance of complete operational envelope as stipulated in the General Staff Qualitative Requirements (Infantry, Indian Army)
ii.Penetration trials of the Tandem Warhead System of MPATGM were also conducted successfully.
Features:
i.The missile is around 1.3 meters (m) long and has a diameter of about 0.12 m.
ii.It has a strike range of 2.5km and weighs around 14.5kg.
iii.It is equipped with a modern Infrared Imaging Seeker along with advanced avionics.
Note: It is set to be manufactured by Bharat Dynamics Limited(BDL) in Bhanoor, Telangana.
About Defence Research and Development Organisation(DRDO):
It is the Research and Development(R&D) wing of the Ministry of Defence(MoD).
Chairman- Dr. Samir Vankatpati Kamat
Headquarters- New Delhi, Delhi
Established in 1958

SPORTS

2024 Badminton Asia Championships: Christie and Wang Won men’s and women’s singles Titles, RespectivelyIndonesia’s Jonatan Christie bagged the men’s singles title and China’s Wang Zhi Yi has claimed the women’s singles title at the Badminton Asia Championships 2024 held in Ningbo, China.
About the Winners :
i.The Indonesian player Jonatan Christie won the gold medal in the men’s singles category defeating the Chinese shuttler Li Shi Feng.

• This is Christie’s second men’s singles title in a row.
• In March 2024, he bagged his maiden All England Open Badminton Championships 2024 (United Kingdom) title by beating fellow Indonesian Anthony Ginting.

ii.World no. 9 Chinese player Wang Zhi Yi won her continental women’s singles title by defeating the Olympic champion and compatriot Chen Yu Fei.

• This is Wang’s second title of the year and her first victory against Yu Fei.
• Zhi Yi has also bagged the Indonesia Masters Super 500 2024 (Indonesia) title in January 2024.

Note- China has emerged as the most successful country at the Badminton Asia Championships 2024 with three gold and two silver medals.
List of the Winners at the Badminton Asia Championships 2024:

About Badminton Asia Championship :
i.The Badminton Asia Championships is a tournament that is organized by the governing body Badminton Asia to award the best Asian badminton players.

• Badminton Asia is the governing body of the badminton sport in Asia under the flagship of Badminton World Federation (BWF)

ii.It was originally known as the “Bank of Ningbo Badminton Asia Championships” organized by the Chinese Badminton Association with the permission of Badminton Asia.
iii.The tournament commenced in 1962 and has been held annually since 1991.
iv.The 41st edition of the Badminton Asia Championships was held at the Ningbo Olympic Sports Center Gymnasium in Ningbo, China, from April 9 to April 14, 2024.

Indian Athlete Aishwarya Mishra’s 400m Bronze at 2023 Asian Championships to be Upgraded to Silver
The Indian athlete Aishwarya Mishra’s bronze medal won during the women’s 400 m sprint event of the Asian Athletics Championships 2023 held in Bangkok, Thailand, is set to be upgraded to silver medal after the original silver medalist Farida Soliyeva of Uzbekistan failed a dope test.

• Soliyeva tested positive for meldonium, a substance added to the World Anti-doping Agency (WADA) list of banned substances in 2016.
• The Athletics Integrity Unit (AIU), which combats doping in athletics, has banned Soliyeva for 3 years starting from 13th September 2023 and all her results from 13th July 2023 have been disqualified.

Note: Haruna Kuboyama of Japan will hold the bronze medal.

BOOKS & AUTHORS

Maker of Modern Goa: The Untold Story of Pratap Singh Rane authored by Vijayadevi Rane
A book titled “Maker of Goa: The Untold Story of Pratap Singh Rane” is the biography of Pratap Singh Rane, the former Chief Minister (CM) of the state of Goa (then UT-Goa, Daman, and Diu), authored by Vijayadevi Rane (Pratap’s wife) and published by Rupa publications.
About Pratap Singh Rane:
i.Pratap’s political career spanned over 50 years, and he holds the maximum  record of winning 11 consecutive elections as a Member of Legislative Assembly (MLA).
ii.He also holds the record of longest-serving CM of Goa for 6 times.
iii.He was elected as Goa’s first chief minister following the state’s separation from Daman and Diu as a Union Territory (UT).
iii.He established Goa University in 1984 at Panaji, Goa.

Sam Pitroda launched a new book titled “The Idea of Democracy”
Padma Bhushan awardee, Satyanarayan Gangaram Pitroda, aka Sam Pitroda, an Indian engineer and entrepreneur, virtually launched his new book titled “The Idea of Democracy”. The book was published by Penguin Business, an imprint of Penguin Random House India.

• The book shares the author’s concern about the state of democracy and the potential challenges in countries like India and the United States of America(USA).

About Sam Pitroda: 
i.Sam Pitroda, hailing from Odisha, served the founding Chairman of India’s Telecom Commission and also the 1st Chairman of Worldtel Initiative of the International Telecommunication Union(1995)
ii.Pitroda launched the Center For The Development Of Telematics (C-DOT) as an autonomous telecom R&D organisation in 1984.
iii.He also served as Advisor to Prime Minister (PM) on Technology Missions Related to Water, Literacy, Immunization, Oil Seeds, Telecom, and Dairy
iv.He was honoured with Padma Bhushan in 2009 for Science and Engineering.

IMPORTANT DAYS

40th Siachen Day – 13 April 2024Siachen Day is annually observed by the Indian Army on 13 April to commemorate Operation Meghdoot launched by the Indian Army on 13 April 1984.

• The Day honours the bravery and sacrifice of the Indian Army soldiers serving at the highest and coldest battlefield in the world, the Siachen Glacier, a part of the Union Territory (UT) Ladakh, located in the eastern Karakoram range in the Himalayas.

13th April 2024 marks the 40th year of Indian Army’s presence at Siachen Glacier.
Operation Meghdoot:
i.Operation Meghdoot was an Indian military operation launched to secure control of the entire Siachen Glacier in Jammu and Kashmir(J&K) (now in the northern Ladakh region).
ii.It marked the first assault on the world’s highest battlefield, resulting in Indian troops gaining control of the entire Siachen Glacier.
iii.The escalation of Pakistan’s activities in Ladakh prompted India to take action to safeguard its interests.
iv.The Indian Air Force (IAF) played a pivotal role in this operation.

• The operation involved airlifting Indian Army soldiers, with IAF helicopters operating in the area.

Points to note:
i.Both India and Pakistan maintain a permanent military presence in the region at a height of over 6,000 meters (20,000 feet).
ii.IAF helicopters has been operating in the Siachen Glacier since 1978, flying the Chetak helicopters, the 1st IAF helicopter to land in the Glacier in October 1978.
Operation Meghdoot:
The permission for Operation Meghdoot was given by then Prime Minister Indira Gandhi.
ii.Major R S Sandhu and Captain Sanjay Kulkarni of 4 Kumaon, along with one platoon, were deployed via helicopter near Bilafond La on 13 April 1984.
iii.Sia La was occupied by 17 April 1984, marking a significant milestone in the operation.
iv.Colonel Narendra Kumar(known as Bull), Indian soldier and mountaineer, played a major role in the launch of Operation Meghdoot to secure the Siachen Heights.
v.The operation resulted in India gaining 70 kilometers long Siachen Glacier and all of its tributary glaciers, as well as 3 main passes of the Saltoro Ridge immediately west of the glacier, Sia La, Bilafond La, and Gyong La.
vi.Currently, the Indian Army remains the first and only army in the world to have taken tanks and other heavy ordnance up to an altitude range of over 5000 meters.

105th Anniversary of Jallianwala Bagh Massacre – 13 April 202413th April 2024 marks the 105th Anniversary of the Jallianwala Bagh Massacre (also known as the Amritsar Massacre), held on 13 April 1919 in Amritsar, Punjab, British India (now in Punjab).

• The Day aims to honour the victims of the massacre and this tragic event also served as a pivotal moment in India’s fight for independence.

About the Jallianwala Bagh Massacre:
i.On 13 April 1919, on the day of Baisakhi, thousands of people gathered at the Jallianwala Bagh Garden in Amritsar for a political meeting to protest against the Rowlatt Act; and the arrest of pro-independence activists Dr. Satyapal and Dr. Saifuddin Kitchlew.
ii.In response, the acting Brigadier-General, Colonel Reginald Edward Harry Dyer deployed his 50 troopers, blocked the exits, and opened fire on unarmed civilians attending a peaceful gathering.
iii.He opened fire on the gathering, to strictly enforce the Martial Law prevailing that was in effect at Amritsar during the time.
iv.The firing continued for approximately 10 minutes; in all 1650 rounds were fired.

• It killed an estimated 379 people including men, women, and children, and injured over a thousand more.

Rowlatt Act:
i.The British colonial government passed the Rowlatt Act, officially known as the Anarchical and Revolutionary Crimes Act of 1919, based on the recommendations of the Sedition Committee, under Mr Justice Rowlatt.

• The Act was passed to suppress the increasing nationalist movement in India.

ii.It was a highly controversial piece of legislation that granted the government the power to arrest and detain Indian citizens without trial for 2 years.
About Jallianwala Bagh Memorial:
i.The Jallianwala Bagh public garden in Amritsar houses a memorial of national importance, established by the Government of India in 1951 to commemorate the massacre.
ii.The memorial is managed by the Jallianwala Bagh National Memorial Trust.
Monuments and Structures:
i.The garden houses a Flame of Liberty Memorial, inaugurated by the first President of India, Dr. Rajendra Prasad, on April 13, 1961.

• It comprises a 30-foot-high central pylon standing in the middle of a shallow tank.
• Designed by American architect Benjamin Polk, it was built out of red sandstone, its structure has been made from 300 slabs, with the Ashok Chakra etched on them

ii.The memorial also features a Gallery, Museum, and Memorial Monuments that provide insights into the historical context and significance of the massacre.
Formation of the Hunters Commission:
i.On 14 October 1919, the Government of India established the Disorders Inquiry Committee, commonly known as the Hunter Commission.

• It was established after orders issued by the Secretary of State for India, Edwin Montagu.

ii.Named after its chairman, Lord William Hunter, former Solicitor-General for Scotland, the commission was tasked to investigate the Jallianwala Bagh shootings.
iv.The Hunter Commission’s final report was released in March 1920. The report unanimously condemned Dyer, but no punitive action was taken.

World Chagas Disease Day 2024 – April 14 World Chagas Disease Day (WCDD) is annually observed across the globe on 14 April to raise awareness about Chagas Disease (also known as American trypanosomiasis), a neglected tropical disease (NTD) that can cause serious heart and digestive issues.

• WCDD also aims to improve early detection, expand diagnostic coverage, and provide equitable access to clinical care for Chagas Disease.
• The theme for WCDD 2024 is “Tackling Chagas Disease: Detect Early and Care for Life.”

Background:
i.In 2019, the 72nd World Health Assembly declared the 14 April of every year as World Chagas Disease Day.
ii.The first-ever World Chagas Disease Day was observed on 14 April 2020.
About World Health Organisation (WHO):
Director General– Dr Tedros Adhanom Ghebreyesus
Headquarters– Geneva, Switzerland
Established on– 7 April 1948
>> Read Full News

National Fire Service Day 2024 – April 14National Fire Service Day is annually observed across India on 14th April and the National Fire Service Week is annually observed from 14th to 20th April to honour the firefighters who lost their lives in the line of duty and to educate the public and students about fire safety practices.

• The observance pays homage to the martyrs who lost their lives during the Bombay Dock explosion on 14th April 1944 at the Victoria Dock in Bombay Port(now Mumbai, Maharashtra).

The theme of National Fire Service Day 2024/National Fire Service Week 2024 is “Ensure Fire Safety, Contribute towards Nation Building”. 
Note: 14th April 2024 marks the 80th Anniversary of the dock explosion. 
Background: 
In 1965, during its 11th meeting, Standing Fire Advisory Council (SFAC) designated 14th April of every year as the National Fire Service Day and the week following the day as “National Fire Service Week to commemorate the 1944 Dock Explosion.
About 1944 Bombay Dock explosion:
i.On 14th April 1944, the ship “SS Fort Stikins” stocked with a cargo of explosives docked at No 1 Victoria Dock, Bombay Port exploded.
ii.The explosion killed around 231 people and around 476 were injured. This includes around 66 firemen.

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