Current Affairs 30 April 2024

We are here for you to provide the important Recent and Latest Current Affairs 30 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

DoPPW launched Integrated Pensioners’ Portal of Bank of IndiaOn 26th April 2024, The Department of Pension and Pensioners Welfare(DoPPW) under the Ministry of Personnel, Public Grievances & Pensions, launched the “Integrated Pensioners Portal of Bank of India”.

• This is in line with the efforts of DoPPW to integrate the Pension Portals of all 17 Pension Disbursing Banks with the Integrated Pensioners’ Portal of DoPPW to ensure Ease of Living of Pensioners.

Points to note:
i.With this integration, the pensioners of Bank of India(BOI) will have one stop services such as: pension slip, status of submission of life certificate, due and drawn statement, and Form-16 through the integrated pensioners portal.
ii.With this launch, a total of five Banks stand integrated to provide services from a single window.

• So far, the task of Integration of Pension Portal of State Bank of India(SBI), Bank of Baroda(BOB), Punjab National Bank(PNB) and Canara Bank with Bhavishya portal has been completed.

About Bhavishya Portal:
i.The ‘Bhavishya’ platform, an integrated online Pension Sanction & Payment Tracking system, was made mandatory for all central government departments with effect from 1st January 2017.
Aim: To ensure payment of all retirement dues and delivery of Pension Payment Order (PPO) to retiring employees on the day of retirement.
ii.Centralized Pension Grievances Redress And Monitoring System(CPENGRAMS), ANUBHAV, ANUDAAN, Skill Acquisition and Knowledge Awareness for Livelihood Promotion(SANKALP) and pension dashboard were merged with BHAVISHYA.
Note: As per National e-Governance Service Delivery Assessment(NeSDA) 2021,  BHAVISHYA was ranked 3rd among all Central Government e-Governance Service Delivery Portals.
About Bank of India(BOI):
Managing Director (MD) and Chief Executive Officer(CEO)- Rajneesh Karnatak
Headquarters- Mumbai, Maharashtra
Founded in 1906
Tagline- “Relationship Beyond Banking”

India’s Gem and Jewellery Sector Receives AEO Status from Finance Ministry
The Ministry of Finance (MoF) has assigned the Authorised Economic Operator (AEO) status to the gem and jewellery sector. The AEO program was introduced as a pilot project in 2011 by the Customs Department aimed at promoting ease of doing business, saving time, and reducing costs for export-oriented industries.

• The Gem and Jewellery Export Promotion Council (GJEPC) advocated for industry inclusion
• Of the 20 companies that applied for the AEO status, Asian Star, a leading diamond and diamond jewellery manufacturer, became the 1st recipient of AEO status in the Indian gem and jewellery industry.

About AEO program:
i.AEO is a program under the World Customs Organisation (WCO) SAFE Framework of Standards to secure and facilitate global trade, enhance international supply chain security, and promote legitimate trade.
ii.It recognises entities compliant with supply chain security standards and grants AEO status and benefits to approved entities engaged in international trade.

INTERNATIONAL AFFAIRS

Highlights of 26th World Energy Congress held in Rotterdam, The Netherlandsi.The 26th edition of the World Energy Congress was held in Rotterdam, The Netherlands, from April 22–25, 2024, under the theme ‘Redesigning energy for people and planet‘.
ii.It was hosted by World Energy Council (WEC) and WEC Netherlands, and hosted by Ministry of Economic Affairs and Climate Policy of the Netherlands, City of Rotterdam, and Port of Rotterdam.
iii.Congress seeks to explore the role of connected energy societies in driving forward global energy transitions in a world context which is less predictable, more turbulent and faster-shifting.
iv.During a panel discussion on ‘The New Interdependencies: Trust, Security and Climate Resilience’, Pradip Kumar Das, Chairperson & Managing Director (MD) of Indian Renewable Energy Development Agency Ltd. (IREDA), represented India.
v.The Asian Development Bank (ADB) confirmed its commitment to a prosperous, inclusive, resilient, and sustainable Asia-Pacific through Strategy 2030, focusing on seven priorities viz. Education, Energy, Finance, Health, Transport, Urban, and Water.
About World Energy Council (WEC):
Secretary General and CEO– Dr Angela Wilkinson
Headquarters– London, United Kingdom
Establishment– 1923
About WEC India:
It is a country member of WEC It joined the Council in 1924. WEC India functions under the patronage of Ministry of Power, Government of India and with the support of the Ministries of Coal, New & Renewable Energy, Petroleum & Natural Gas and External Affairs.
Chairman– Pankaj Agarwal
Headquarters– New Delhi, Delhi
>> Read Full News

BANKING & FINANCE

RBI Kept FPI Investment Limit in G-Sec Unchanged at 6% of Outstanding Stock For FY25On 26th April 2024, The Reserve Bank of India (RBI) announced that the investment limit by Foreign Portfolio Investors(FPI) in Government Securities(G-Sec) will remain unchanged at 6% of outstanding security stocks for FY25(2024-25).

• The FPI limits for investment in the state government securities (SGSs) and corporate bonds are maintained at 2% and 15% respectively, of outstanding security stocks for FY25.
• As of now, all investments by eligible investors in the ‘specified securities’ will be considered under the Fully Accessible Route(FAR).

Key Points:
i.The allocation of incremental changes in the G-Sec Limit(in absolute terms) classified into two sub-categories i.e. General and Long Term, and will be retained at 50:50 for 2024-25.
ii.The entire increase in limit for State Development Loans (SDLs) (in absolute terms) has been added to the general sub-category of State Development Loans.
Additional info:
RBI has also notified that the aggregate limit of the national amount of Credit Default Swaps(CDS) sold by foreign portfolio investors will be 5% of the outstanding stock of corporate bonds.

• Additional limit of Rs 2,54,000 crore is allocated for FY25.

About Reserve Bank of India(RBI):
Governor- Shaktikanta Das (25th Governor of RBI)
Headquarter- Mumbai, Maharashtra
Established on 1 April 1935

RBI Directs Talkcharge to Stop PPI, Wallet Issuance & Refund Balances The Reserve Bank of India (RBI) has directed to Gurugram(Haryana)-based fintech firm Talkcharge Technologies Private Limited(Talkcharge) to stop the issuance and operations of its Prepaid Payment Instruments(PPIs) or wallets and refund the balances held in the wallets within 45 days (by May 17, 2024).
Background:
RBI has noticed that Talkcharge has been issuing PPIs(Wallets) to its customers through its website and app ‘TalkCharge’ without receiving required authorisation from RBI under the provisions of the Payment and Settlement Systems Act, 2007.
About Prepaid Payment Instruments (PPIs):
i.These instruments facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities etc. against the value stored therein. It can be issued by banks and non-banks.
ii.The cash loading of PPIs is limited to Rs 50,000 per month subject to overall limit of the PPI.
iii.Bank and Non-Bank entities will be allowed to issue PPIs in India after obtaining necessary approval  from RBI under Payment and Settlement Systems Act, 2007
Types of PPIs:
i.Small PPIs: issued with minimum details usable at specific merchant locations, no funds transfer or cash withdrawal. There are 2 types of Small PPIs

• PPIs upto Rs 10,000(with cash loading facility). These PPIs can be converted into full-KYC PPIs within 24 months.
• PPIs upto Rs 10,000(with no cash loading facility).

ii.Full-KYC PPIs: The PPIs are issued after completing Know Your Customer(KYC) of PPI holder. These can be used for purchase, funds transfer and cash withdrawal. Its outstanding amount should not exceed Rs2 lakh.
About Reserve Bank of India(RBI):
Governor- Shaktikanta Das (25th Governor of RBI)
Headquarter–  Mumbai, Maharashtra
Established on 1 April 1935

REC Limited Secured JPY60.5 Billion Green Loan from SACE, Italian Export Credit AgencyREC Limited(formerly Rural Electrification Corporation Limited) has secured a green loan of Japanese Yen (JPY) 60.536 (~Rs 3250 crore) from Servizi Assicurativi del Commercio Estero (SACE), an Italian export credit agency, to finance green projects in India.

• The green facility benefits from an 80% guarantee by SACE under the “Green Push Strategy” initiative.

Significance:
i.The loan facility is a first-of-its-kind collaboration between Indian entity REC and SACE.
ii.It also marks SACE’s 1st JPY-denominated loan transaction and 1st green loan transaction in India.
iii.This sets a benchmark in the Indian public sector landscape for similar green financing transactions, highlighting a growing commitment to sustainable financing.
Key Points:
i.The green loan witnessed the participation of various banks across Asia, the United States of America(USA) and Europe. This includes Bank of America, Citi Bank, and KfW IPEX-bank.

• Sumitomo Mitsui Banking Corporation will act as Mandated Lead Arrangers.
• Credit Agricole and Investment Bank will act as the Export Credit Agency Coordinator, Green Loan Coordinator, Documentation Bank and Facility agent.

ii.Under this facility, SACE is committed to support projects in renewable energy, green mobility and energy efficiency which will enable sustainable long-term growth in India.
iii.It is a strategic investment for REC Limited which shows its commitment towards sustainable growth and is in alignment with its Green Finance Framework.
Additional info: 
In January 2024, REC Limited issued its inaugural JPY 61.1 billion 5-year, 5.25-year and 10-year Green bonds, issued under its USD 10 billion Global Medium Term Notes Programme.
About REC Limited:
REC Limited(formerly known as Rural Electrification Corporation Private Limited) is an Indian Maharatna CPSE under the Ministry of Power.

• It is registered with Reserve Bank of India(RBI) as Non-Banking Financial Company (NBFC), and Infrastructure Financing Company(IFC).

Chairman and Managing Director(CMD)- Vivek Kumar Dewangan
Headquarter- New Delhi, Delhi
Established in 1969

Cred Launches Offline QR Code-based ‘Scan and Pay’ Service
Fintech company Cred has launched an offline Unified Payments Interface (UPI)-based ‘Scan and Pay’ service that enables users to scan QR codes for payments directly from their bank accounts.

• Cred aims to encourage its users to use the app to scan QR codes at high-end retail stores such as supermarkets, restaurants, beauty salons, fashion outlets, etc.
• Merchants dealing with substantial transaction values, often credit card-based, are the primary target.

Merchant Terminals:
i.Merchants can opt for various terminal types, including portable devices, kiosks, or dynamic QR code displays, powered by Razorpay Point of Sale (POS) and Pine Labs.
ii.Terminals are available in portable ‘pocket’ form or as ‘kiosks’ for high-traffic areas.
iii.‘Kiosk’ facilitates self-service orders and UPI payments, enhancing customer experience.
Note: This retail offline payment initiative follows successful pilots at large format stores, enhancing convenience for both merchants and customers.

SBI partners with HCLSoftware for Digital Transformation
The State Bank of India (SBI) has entered into a five-year agreement with HCLSoftware, the software business unit of HCLTech, to digitally transform its customer interaction framework by utilising the HCL Unica platform.

• It will provide hyper-personalised communication across the SBI’s diverse digital marketing channels while adhering to the Digital Personal Data Protection Act (DPDPA).
• It will also facilitate complex, multi-channel digital marketing campaigns, enhancing customer engagement, precision, and relevance.

ECONOMY & BUSINESS

NIPFP projects India’s FY25 GDP growth at 7.1-7.4%On April 26, 2024, the National Institute of Public Finance and Policy (NIPFP) released its ‘FY 2023-24: Year End Macroeconomic Review’ during a seminar at its campus in New Delhi, Delhi. It has estimated India’s Gross Domestic Product (GDP) growth at 7.1-7.4% for FY25 (2024-25), using high-frequency models.

• This economic growth will be driven by high Capital Expenditure (Capex) and Government investment in Public Goods.
• The central government is pursuing fiscal consolidation by increasing tax buoyancy and compressing revenue expenditure.

Key Points:
i.In FY24, states experienced robust capex growth due to substantial transfers from the Centre. However, central transfers show negligible growth at 0.7%, with declines in nine statesviz. Kerala (-43%), Bihar (-30%) , Karnataka (-23%), Maharashtra, Punjab, West Bengal (WB), Uttarakhand, Himachal Pradesh (HP), and Tamil Nadu (TN).
ii.The share of construction in overall GVA has risen since FY21, when it was 7.85%, to 9.13% in FY24.
iii.The NIPFP highlights downward risks to the forecast, including government consumption expenditure compression and subdued private consumption growth.
iv.Concerns also persist about global growth slowdown, moderated global inflation, and geopolitical uncertainties such as rising energy prices.
v.On the other side, there is Optimism about India’s economy because the government is investing heavily, robust domestic demand, and sustained confidence in business and consumers.’
Note:
Asian Development Bank (ADB) and Fitch Ratings forecast India’s growth at 7%, while International Monetary Fund (IMF), S&P Global Ratings, and Morgan Stanley predict 6.8% growth for FY25.
About National Institute of Public Finance and Policy (NIPFP)
It is a centre for research in public economics and policies.
Chairman– Dr. Urjit Patel
Headquarters– New Delhi, Delhi
Establishment– 1976

APPOINTMENTS & RESIGNATIONS

A Ganesh Kumar, Debasis Kundu Appointed as Members of National Statistical Commission(NSC)

Ministry of Statistics and Programme Implementation (MoSPI) has appointed A Ganesh Kumar and Debasis Kundu as members of the National Statistical Commission(NSC).

• Now, the total strength of members of the commission including chairman is 5.

About the Appointments:
i.A Ganesh Kumar is a Professor at the Indira Gandhi Institute of Development Research(IGIDR), Mumbai(Maharashtra).
ii.Debasis Kundu is a Professor at The Department of Mathematics and Statistics at the Indian Institute of Technology(IIT), Kanpur(Uttar Pradesh).
About National Statistical Commision(NSC):
NSC was constituted by Government of India(GoI) through a resolution dated 1st June, 2005 based on the recommendations of the panel headed by C.Rangarajan(Former RBI Governor).

• At present, Rajeeva Laxman Karandikar is serving as the part-time chairman.

>> Read Full News

Pakistan’s Foreign Minister Mohammed Ishaq Dar appointed as Deputy PM
Mohammed Ishaq Dar, who is presently serving as the minister of foreign affairs, was appointed as the deputy Prime Minister (PM). He was appointed by Pakistan PM Nawaz Sharif with immediate effect.
He becomes the first Deputy PM of Pakistan since Pervaiz Elahi, who served as Deputy PM from 2012 to 2013. The post has been vacant since 2013 to 2024.

• He is a chartered accountant by profession and belongs to the Pakistan Muslim League-Nawaz (PML-N) party.
• He served as finance minister from 1998 to 1999, 2013 to 2017, and then from 2022 to 2023.

SPORTS

India Wins 8 Medals in 2024 Archery World Cup Stage 1 held in ShanghaiIndia topped the medal tally with 8 medals(5 Golds, 2 Silver,1 Bronze) at the 2024 Hyundai Archery World Cup Stage 1 held in Shanghai, China from 23rd to 28th April 2024.

• South Korea and Spain finished 2nd and 3rd with 7 medals and 2 medals, respectively.

Top 3 on overall Medal Tally:

Note: It was India’s highest number of Gold medals and the highest Medal tally at a single World Cup stage.
Indian Medal Winners:

Key Points:
i.Jyothi Surekha Vennam won three gold medals including the individual gold medal in the women’s compound individual event.

• Jyothi, along with Aditi Gopichand Swami and Parneet Kaur, won the gold in the women’s compound team event.
• She also won the gold medal in the Mixed Compound Team event along with Abhishek Verma.

ii.The Indian men’s team of Dhiraj Bommadevara, Tarundeep Rai, and Pravin Jadhav won the gold medal in the men’s recurve team event.

• It was India’s first World Cup men’s recurve team gold after 14 years. previously Rahul Banerjee, Jayanta Talukdar, and Tarundeep Rai of India won gold in 2010 in Shanghai.

About Archery World Cup 2024:

i.The Archery World Cup 2024 is the 18th edition of the annual event organized by World Archery.

ii.It occurs in four stages; stage -1, Stage -2, Stage -3, and final.
iii.Stage -2 to be held in May 2024 in Yecheon (South Korea), Stage -3 in June ‘24 in Antalya (Türkiye), and the final in October ‘24 in Tlaxcala (Mexico).

OBITUARY

MP from Karnataka, Ex-Union Minister V Sreenivasa Prasad Passed AwayVenkataiah Sreenivasa Prasad, Bharatiya Janata Party (BJP)’s Member of Parliament (MP-Lok Sabha) from Chamarajanagar constituency (Karnataka) passed away at the age of 76 in Bengaluru, Karnataka. He was born on 6th August 1947, in Ashokapuram, Mysuru, Karnataka.
About Venkataiah Srinivasa Prasad:
i.He first contested as an independent candidate in 1974 in the Krishnaraja segment by-election for the Karnataka Legislative Assembly.
ii.He joined erstwhile Janata Party in 1976 and later joined the Congress in 1979.
iii.Before joining BJP in 2016, He also had a stint with  Janata Dal (Secular)(JD(S), JD(United), and the Samata Party.
Stint as MP and Union Minister:
i.He represented Chamarajanagar constituency as MP for 6 terms (1980,1984,1989,1991,1999, and 2019).
ii.He served as the Union Minister of State in the Ministry of Consumer Affairs Food and Public Distribution from 1999 to 2004.
Note: In March 2024, he announced his retirement from electoral politics.
Stint as MLA:
i.Representing congress, he was elected as a Member of the Legislative Assembly (MLA) from Nanjangud (Karnataka) constituency in 2008, and 2013.
ii.He also served as Minister for Revenue and Muzrai in the Government of Karnataka from 2013 to 2016.

IMPORTANT DAYS

World Day for Safety and Health at Work 2024 – April 28World Day for Safety and Health at Work is annually observed across the globe on 28 April to raise awareness about creating safe and healthy work environments and promote the prevention of occupational accidents and diseases globally.

• The observance of World Day for Safety and Health at Work 2024 on 28th April 2024 focus on “Ensuring safety and health at work in a changing climate”.

The annual observance of the Day is led by the International Labour Organization (ILO).
Background:
i.World Day for Safety and Health at Work was initiated by the ILO in 2003, capitalising on the ILO’s principles of tripartism and social dialogue.
ii.This observance aligns with the ILO’s Global Strategy on Occupational Safety and Health (OSH), documented in the Conclusions of the International Labour Conference in June 2003.

• Advocacy, as one of the main pillars of the Global Strategy, the World Day serves as a vital advocacy tool to promote safe and healthy work environments.

iii.The 1st ever World Day for Safety and Health at Work was observed on 28 April 2003.
About International Labour Organization (ILO):
Director-General– Gilbert Fossoun Houngbo
Headquarters– Geneva, Switzerland
Established in– 1919
>> Read Full News

International Dance Day 2024 – April 29 International Dance Day or World Dance Day is annually observed across the globe on 29 April to celebrate the art of dance, and its universal appeal, transcending political, cultural, and ethnic boundaries, and uniting people through the universal language of dance.

• The Day also commemorates the birth anniversary of the French dancer, and ballet master Jean-Georges Noverre (1727-1810). He is considered the inventor of ballet d’action or dramatic ballet.

The annual observance of World Dance Day is led by the International Theatre Institute (ITI), the world’s largest organisation for the performing arts.
Background:
In 1982, the International Dance Committee (IDC) of ITI established International Dance Day to be celebrated every year on 29 April, the birth anniversary of Jean-Georges Noverre.

• The Dance Committee of ITI is the main partner for the performing arts of the United Nations Educational, Scientific and Cultural Organization (UNESCO).

Note: Jean-Georges Noverre is also known as “the Grandfather of the Ballet” and “the pioneer of modern ballet”.
Goals of World Dance Day:
i.To promote Dance in all its forms worldwide;
ii.To raise awareness of dance’s value;
iii.To enable the dance community to advocate and support their work on a broad scale;
iv.To enjoy dance in all its forms and share the joy of dance.
2024 Message:
Argentine dancer Marianela Núñez, a Principal of The Royal Ballet at the Royal Opera House in London, United Kingdom is the author of the message of World Dance Day 2024.

• Her notable performances include “Swan Lake,” “Sleeping Beauty,” “Romeo and Juliet,” and “Giselle.”

Note: Since 1982, the IDC of ITI, the Executive Council of ITI, and the World Dance Alliance have selected an outstanding dance personality to write a message for World Dance Day annually.

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