Current Affairs 23 April 2024

We are here for you to provide the important Recent and Latest Current Affairs 23 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

Indian Navy conducts mega navy exercise “Poorvi Lehar” on East CoastOn 20th April 2024, Indian Navy conducted Exercise Poorvi Lehar(XPOL) 2024 on East Coast. XPOL aims to validate procedures and to assess Indian Navy’s preparedness to meet the maritime security challenges in the region.

• It was conducted under the Operational Control of Vice Admiral Rajesh Pendharkar, Flag officer-Commanding-in-chief (FOC-in-C), Eastern Naval Command (ENC) headquartered at Vishakapatnam, Andhra Pradesh.

About Exercise Poorvi Lehar (XPOL) 2024:
i.The exercise was conducted in multiple phases which include:

• Tactical Phase: Combat training in realistic situations.
• Weapon Phase: Successful conduct of different firings.

ii.It saw the active participation of Ships, Submarines, Aircrafts and Special Forces.
iii.It also saw the participation of assets from Indian Air Force(IAF), Andaman and Nicobar Command, Eastern Naval Command and Coast Guard.

• This demonstrates a high degree of interoperability amongst the Services.

iv.An important feature of the exercise was the operation of aircraft from various locations, ensuring near-continuous Maritime Domain Awareness across the area of operations.
Note:
i.Recently, Government of India(GoI) appointed Dinesh Kumar Tripathi as 26th Chief of Naval Staff. He will taken charge on 30th April.
ii.Indian Navy Day is observed annually on 4th December
About Indian Navy:
Chief of Naval Staff: Radhakrishnan Hari Kumar (25th ) (Till 29 April 2024)
Headquarter: New Delhi, Delhi
Founded: 1950

PM Modi Inaugurated 2550th Bhagwan Mahaveer Nirvan Mahotsav on Mahaveer JayantiOn April 21, 2024, i.e. on the occasion of Mahavir Jayanti, the Prime Minister (PM) of India Narendra Modi inaugurated the 2550th Bhagwan Mahaveer Nirvan Mahotsav at Bharat Mandapam in New Delhi, Delhi.

• PM Modi also released a commemorative stamp and coin to mark the 2550th Bhagwan Mahaveer Nirvan Mahotsav.

Key People: The event was attended by Union Minister of State (MoS) Arjun Ram Meghwal, Ministry of Culture along with other dignitaries and saints from the Jain community.
About the 2550th Bhagwan Mahaveer Nirvan Mahotsav:
i.21st April 2024 is the Janma Kalyanak of Bhagwan Mahavir Swami.

• The Government of India commemorated the occasion with the Jain community by organizing a cultural programme in Bharat Mandapam.

ii.The 2550th Bhagwan Mahaveer Nirvan Mahotsav is being celebrated as a year-long “Ahimsa Mahotsav”.
iii.The Bhagwan Mahaveer Nirvan Mahotsav Committee is formed to coordinate and promote the festival, focusing on spreading the teachings of Bhagwan Mahaveer, particularly emphasizing non-violence and kindness.
Mahavir Jayanti :
i.Mahavir Jayanti commemorates the birth of Mahavir as ‘Vardhamana’ in a royal family in 615 BC.
ii.Bhagwan Mahavir, 24th Tirthankar, advocated Jain principles: Ahimsa (Non-Violence), Satya (Truthfulness), Asteya (Non-Stealing), Brahmacharya (Chastity) and Aparigraha (Non-attachment).
iii.Jains commemorate five major events of every Tirthankar: Chyavana/Garbha (Conception) Kalyanak; Janma (Birth) Kalyanak; Diksha (Renunciation) Kalyanak; Kevaljnana (Omniscience) Kalyanak and Nirvana (Liberation/Ultimate Salvation) Kalyanak.
About the commemorative coin:
This is the 8th commemorative coin for the year 2024. The Non Circulating  type coin is minted at India Government Mint, Hyderabad in Telangana
Features:
i.The coin with denomination Rs 100 weigh 35 grams.
ii.The reverse of the coin features the image of the Nalanda Pawapuri Jal Mandir and “Bhagwan Mahaveer 2550th Nirvan Kalyanak” in both Devanagari script and English with year 2023 at the bottom

INTERNATIONAL AFFAIRS

Global Military Expenditure recorded All-Time High of USD 2443bn in 2023, US Tops & India 4th: SIPRI ReportOn April 22, 2024, Stockholm International Peace Research Institute (SIPRI) released its report titled ‘Trends in World Military Expenditure, 2023’. According to the report, the total global military expenditure increased for the 9th consecutive year to an all-time high of USD 2443 billion in 2023, an increase of 6.8% in real terms from 2022. This is the steepest year-on-year increase since 2009.
i.The top 5 military spenders in 2023 are the United States of America(USA)(1st), China(2nd), Russia(3rd), India (4th) and Saudi Arabia(5th), which together accounted for 61% of world military spending.
ii.With a military expenditure of USD 83.6 billion in 2023, India was the 4th largest spender globally. India’s military spending has increased by 4.2% from 2022 and 44% from 2014.
iii.In 2023, North Atlantic Treaty Organization (NATO) members, including the USA, collectively spent USD 1341 billion. This accounts for around 55% of global military spending.
About SIPRI (Stockholm International Peace Research Institute):
It is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament.
Chair of the SIPRI Governing Board – Stefan Löfven
Director– Dan Smith
Headquarters – Solna, Sweden
Establishment – 1966
>> Read Full News

BANKING & FINANCE

S&P Global: 3 Indian Banks Among Top 50 lenders in Asia-Pacific by AssetsThree Indian Banks namely, the State Bank of India (SBI), HDFC Bank and ICICI Bank are featured in the list of top 50 largest banks in Asia-Pacific Region by Assets – 2024 released by The S&P Global Market Intelligence.

• China’s Industrial and Commercial Bank of China limited retained its position as the largest bank in Asia pacific as well as in world in 2023.

Points to note:
i.SBI, India’s largest Public Sector Bank(PSB), has improved its ranking to 20th in 2023 from 21 in 2022. SBI’s assets valuation stands at USD 780.05 billion in 2023.
ii.HDFC Bank’s valuation increased to USD 464.34 billion in 2023, over 51% higher than its value in 2022. HDFC bank has jumped from 46th rank in 2022 to 33rd rank in 2023.
iii.ICICI Bank, 2nd largest private sector bank in India, has made its debut in the top 50 Asia-Pacific lender list in 2023. It is currently ranked 48th position.
About S&P Global Inc.:
President and Chief Executive Officer(CEO): Douglas L. Peterson
Headquarters: New York, U.S.A
Established: 1917
>> Read Full News

10 Multilateral Development Banks (MDBs) Launched new “Global Collaborative Co-Financing” Platform
On the sidelines of the 2024 International Monetary Fund(IMF) and World Bank Spring meetings which took place in Washington D.C.(U.S.A.) on 20th April 2024, 10 Multilateral Development Banks (MDBs) jointly launched the Global Collaborative Co-financing platform.

• This digital initiative aims to transform the development finance landscape.

About Global Collaborative Co-Financing Platform:
Global Collaborative Co-Financing Platform has two components:
i.Co-Financing Portal: It will be a secure platform for registered co-financiers to share their project pipelines. The portal will be hosted at the World Bank.
ii.Co-Financing Forum: It will provide a platform for various participants to discuss co-financing opportunities and share their best practices and common issues.
Significance:
i.The new digital platform will help in reducing the administrative burden and transaction costs.
ii.The platform fosters collaboration, promotes transparency, and enables MDBs and partner agencies to address global challenges more effectively and efficiently.
List of Multilateral Development Banks(MDBs) Joined for new Co-financing Platform:
At the initial stage, 10 MDBs joined the platform to enhance collaboration, streamline their co-financing processes and provide a centralised platform for project information.
The 10 MDBs are: Asian Infrastructure Investment Bank(AIIB), World Bank Group(WBG), African Development Bank(AfDB), Asian Development Bank(ADB), Council of Europe Development Bank(CEB), European Bank for Reconstruction and Development (EBRD), European Investment Bank(EIB), Inter-American Development Bank(IDB), Islamic Development Bank(IsDB), and New Development Bank(NDB).
The MDB outlines joint action in critical areas:
i.Scaling Up MDB financing capacity: Heads of MDB estimate to generate additionally lending of USD300-400 billion over the next 10 years.

• i.To offer various set of innovative financial instruments to shareholders, development partners etc. such as: hybrid-capital and market risk-transfer instruments. Also, they will help in promoting channeling of Special Drawing Rights(SDRs) of IMF through MDBs.

ii.Promoting joint action on climate change:
It laid down various actions to tackle climate change such as:

• To develop 1st common approach to measure the climate results on adaptation and mitigation.
• To streamline operations with the goals of Paris Agreement and to jointly report on climate financing.
• To support and enhance Early Warning Systems (EWSs) for natural disasters.

iii.Fostering Country-level collaboration and Co-financing:
MDBs are engaged in discussions and supporting country-owned and      country-led platforms in order to make it convenient for countries to work with Banks. It includes various actions such as:

• To accelerate co-financing of Public Sector Projects through Collaborative Co-financing portal.

iv.Catalyzing Private Sector Mobilization:
MDBs committed to scaling-up private-sector financing for developing goals including by adopting innovative approaches and financial instruments.
It includes various actions such as:

• To increase local-currency lending and foreign-exchange hedging solutions to boost private investment.
• To expand the type and disaggregation of the statistics that MDBs and Development Finance Institutions(DFIs) release through Global Emerging Markets Risk Database(GEMs) consortium which will help investors to better assess investment risks and opportunities.

v.Improving Development Effectiveness and Impact:
MDBs agreed to focus on the impact of their work. It includes various actions such as:

• To increase collaboration on joint impact evaluations like: sharing approaches to monitor and assess impact.
• To use various Key Performance Indicators(KPIs) on nature and biodiversity to explore the feasibility of alignment of some indicators ahead of Conference of Parties(CoP)30 in 2025.

ECONOMY & BUSINESS

NGEL & ITL signed MoU to develop Renewable Energy Projects
NTPC Green Energy Limited(NGEL) and Indus Towers Limited (ITL) have signed a Memorandum of Understanding (MoU) to address the need for pacing green energy objectives and the Indian government’s efforts towards a carbon-neutral economy.

• This collaboration would look into the combined development of grid-connected renewable energy-based power projects such as solar, wind, and energy storage, as well as related solutions.
• The MoU was signed by Soumya Kanti Chowdhuri, Chief General Manager of NGEL, and Vikas Poddar, Chief Financial Officer (CFO) of ITL.

Note:NGEL is a wholly-owned subsidiary of NTPC Limited (formerly known as National Thermal Power Corporation).

CSIR-IICT & BHEL Partnered to Advance Clean Fuel Technology; MoU Signed to Convert CO2 to DME
The Council of Scientific & Industrial Research- Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate Research and Development (R&D) have signed a Memorandum of Understanding (MoU) for developing technology on capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

• This partnership is under the Department of Science and Technology’s (DST) initiative on Carbon Capture and Utilisation (CCU), which aims to employ innovative technologies to combat carbon emissions and promote sustainable energy practices.
• Funded by the DST, the project centers on utilising captured CO2 to produce DME, a clean fuel suitable for blending with Liquefied Petroleum Gas (LPG).

Note:
i.CSIR-IICT was started as the Central Laboratories for Scientific and Industrial Research (CLSIR) in 1944. It is one of the oldest national laboratories under CSIR.

RVNL Signed MoU with TUMAS India Private Limited for Infrastructure Projects
Rail Vikas Nigam Limited (RVNL) has signed a Memorandum of Understanding (MoU) with M/s Turkish Engineering Consulting & Contracting – TUMAS India Private Limited for partnership and collaboration in public transportation projects and infrastructure projects across India.

• RVNL and the Turkish firm aim to collaborate on executing railway infrastructure projects across various regions in India.
• The partnership seeks to accelerate infrastructure development, enhance operational efficiency, and improve connectivity within the Indian rail network.

AWARDS & RECOGNITIONS

Puravankara Ltd. won 15th CIDC Vishwakarma Awards 2024 for Social Development and ImpactPuravankara Limited, a renowned real estate developer in India, has been honoured with the Achievement Award for Creating Social Development and Impact at the 15th edition of CIDC Vishwakarma Awards (VKA) (2024), organised by the Construction Industry Development Council (CIDC).

• The Award recognises Puravankara’s efforts in driving positive change through its impactful campaigns, notably the “Million Wells for Bengaluru” in collaboration with Biome Environmental Trust

Note: This initiative reflects Puravankara’s dedication to environmental sustainability and community empowerment.
Points to Note:
i.Biome Environmental Trust (Biome) is dedicated to promoting sustainable practices in architecture, water management, and land use.
ii.CIDC was established in 1996 by the Planning Commission (Now National Institution for Transforming India (NITI Aayog)), along with the Constituents of the Indian Construction Industry.
“Million Wells for Bengaluru” Campaign:
i.This initiative aims to combat water depletion by rejuvenating heritage wells, promoting rainwater harvesting, and supporting the Manu Vaddar community.
ii.In 2022-2023, 6 open heritage wells and a Kalyani were rejuvenated in Hunsamaranahalli Town Municipal Council (TMC) limits in Yelahanka Taluk, Bengaluru
About CIDC Vishwakarma Awards:
i.The CIDC VKA recognises organisations and individuals contributing to national growth and sustainable development, particularly in the field of  Corporate Social Responsibility (CSR).

• CIDC Vishwakarma Awards for 2008, the inaugural edition of the award were presented in 2009.

ii.The awards are inspired by the spirit of creation and construction embodied by Lord Vishwakarma, a ruling deity in Indian construction practices.
iii.Hosted annually in March by CIDC, the awards celebrate outstanding achievements within the Indian Construction Industry.
iv.The Award comprises a total of 12 categories (and a Life Time Achievement Award) and covers the entire spectrum of the Indian Construction Industry.
About Puravankara Limited:
Chairman– Ravi Puravankara
Managing Director (MD)– Ashish Ravi Puravankara
Headquarters– Bengaluru, Karnataka
Founded in– 1975

SPORTS

Gukesh Wins Candidates Tournament & Qualifies for World Chess Championship 2024The 17-year-old chess Grandmaster (GM) Dommaraju Gukesh from Chennai (Tamil Nadu) has won (Open category) the International Chess Federation (FIDE) Candidates 2024 held in Toronto, Canada, by defeating Hikaru Nakamura of the United States to score 9 points.

• He will now be competing with Ding Liren of China in the World Chess Championship 2024.
• Gukesh has thus become the youngest challenger in history to qualify for the World Chess Championship, breaking the record created in 1984 by the GM Garry Kasparov (Russia), when he was 22.
• Tan Zhongyi (China) has won the candidates 2024 (Women’s category) and will face her compatriot Ju Wenjun (China) in the Women’s World Chess Championship 2024.

>> Read Full News

Red Bull’s Max Verstappen Wins Chinese Grand Prix 2024 Belgian-Dutch driver Max Verstappen of Red Bull won the Formula 1 (F1) Chinese Grand Prix (GP) 2024 held at the Shanghai International Circuit in Shanghai, China on 21st April 2024.

• McLaren’s Lando Norris(the United Kingdom(UK)) and Red Bull’s Sergio Perez (Mexico) finished in the second and third positions, respectively.

Winners of Chinese GP 2024:

Highlights of Chinese GP 2024:
i.The Chinese GP 2024 victory marks Verstappen’s fourth GP title of the 2024 season.He previously won the Saudi Arabian GP 2024, the Bahrain GP 2024, and the Japanese GP 2024.
ii.It marks Verstappen’s 58th win and 102nd podium finish in his driving career.
iii.China’s first and only F1 driver, Zhou Guanyu, representing the Kick Sauber team, finished 14th in the race.
Key Points:
i.With this win, Max Verstappen leads the 2024 Drivers Standings with 110 points, followed by his teammate Sergio Perez with 85 points and Charles Leclerc of Ferrari with 76 points.
ii.As of 22nd April 2024, the 2024 Constructors’ Championship standing is topped by the Red Bull Racing-Honda racing team with 195 points, followed by Ferrari (151 points) in 2nd and McLaren Mercedes (96 points) in 3rd.
iii.The constructors’ standing represents the points earned by finishing in the top position of two drivers of each team at each Grand Prix.
About Sprint race:
i.Max Verstappen also won the first sprint race of the 2024 season in the Chinese GP 2024. Lewis Hamilton of Mercedes and Sergio Perez finished second and third respectively.
ii.The F1 sprint is a short race that lasts around 30 minutes and covers 100 km, approximately one-third of the normal Grand Prix distance. It is a precursor to the main event.
About Chinese Grand Prix:
i.‘Formula 1 (F1) Lenovo Chinese Grand Prix 2024’  is the 17th edition of the of event, and the 5th round of the 2024 F1 World Championship.
ii.The 1st edition of the Chinese GP was held in 2004. The last edition (16) was held in 2019.

BOOKS & AUTHORS

Goa Gov Sreedharan Pillai Released his New Book “Heavenly Islands of Goa”
Goa Governor Sreedharan Pillai’s new (221st) book titled “Heavenly Islands of Goa” was released by Jagadguru Sri Sri Vidhushekhara Bharati Swami, Shankaracharya of Dakshinamnaya Sri Sharada Peetham, Sringeri (Karnataka), during a programme held in New Durbar Hall in the Raj Bhavan in Dona Paula, Goa.

• The book provides an overview of Goa’s biodiversity and heritage.
• 57th Jnanpith Award winner Damodar Mauzo received the first copy of the book.

Five other books:
On 21st April 2024, ‘Cuncolim, ‘Kaavi Art’, ‘Icons of My Literature’, ‘Vikshit Bharat’, and ‘Canacona’ books written/compiled by Goa Governor Sreedharan Pillai were released by Prof. Dr. Kumud Sharma, Vice President of Sahitya Academy, New Delhi, Delhi.

IMPORTANT DAYS

National Civil Services Day 2024 – April 21 National Civil Services Day is annually observed across India on 21 April to recognise and acknowledge the crucial role that civil servants play in the nation’s development.

• National Civil Services Day is an occasion for civil servants to recommit themselves to serving the nation excellently.
• 21 April 2024 marks the observance of the 17th National Civil Services Day.

Background:
i.In 2006, India’s then Prime Minister (PM), Dr. Manmohan Singh inaugurated an event to mark the ‘Civil Service Day.’

• All 61 All India and Central Civil Services, including 15 non-technical and 20 technical services, were collectively observing the day.

ii.The 1st National Civil Services Day celebrations were held in Vigyan Bhawan, New Delhi (Delhi) on 21 April 2006.
>> Read Full News

World Creativity and Innovation Day 2024 – April 21

The United Nations (UN) World Creativity and Innovation Day (WCID) is annually observed across the globe on 21 April to raise awareness of the role of creativity and innovation in all aspects of human development.

• Every year, WCID champions the importance of a creative mindset in advancing the 17 Sustainable Development Goals (SDGs) of the UN.

Background:
i.Citizens and organisations in more than 50 countries across the world observe 21 April of every year as World Creativity and Innovation Day. WCID was first commemorated on 21 April 2002.
ii.On 27 April 2017, the UN General Assembly (UNGA) adopted the resolution A/RES/71/284 and proclaimed the 21 April of every year as World Creativity and Innovation Day.
iii.The 1st UN-recognised WCID was observed on 21 April 2018.
>> Read Full News

International Mother Earth Day 2024 – April 22The United Nations (UN) International Mother Earth Day (or Earth Day) is annually observed across the globe on 22nd April to recognise the relationship between humans and nature in the ecosystems.

• The day highlights the need to protect and enhance people’s livelihoods, counteract climate change, and stop the collapse of biodiversity.

According to Earthday.org, the theme of Earth Day 2024 is Planet vs. Plastics.
Background: 
i.The United Nations General Assembly(UNGA) adopted the resolution  A/RES/63/278 on 22nd April 2009 and proclaimed the 22nd April of every year as International Mother Earth Day.

• This proposal was initiated by the ‘Plurinational State of Bolivia’.

ii.The first-ever International Mother Earth Day was observed on 22nd April 2009.
>> Read Full News

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