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NATIONAL AFFAIRS
QCI and LUB Signed MoU to Boost MSME Competitiveness
- LUB, founded in 1994, is a registered all India organization of Micro and Small Industries in India.
Key Points
i.The MoU lays out a roadmap for joint activities, encompassing awareness campaigns, training sessions, state and district level consultations, with the aim of promoting the implementation of lean concepts and sustainable practices among LUB members.
ii.A selected nodal officer from each organization will serve as a single point of contact for all MCLS-related issues in order to facilitate a seamless implementation.
iii.National Accreditation Board for Education and Training (NABET) will be serving as one of the Implementing Agencies for MCLS, will promote registration among LUB members for the scheme and offer requisite assistance as needed.
- NABET is a constituent board of QCI.
iv.Additionally, it will help LUB members move up the Lean Journey from Lean Basic to Lean Intermediate and, ultimately, to Lean Advance levels.
Note: The schemes like MCLS and Zero Defect Zero Effect(ZED) assist companies in cutting waste, increasing productivity, and increasing profitability.
About MCLS:
i.MCLS is an initiative launched by the Ministry of MSME(MoMSME) to enhance the competitiveness of MSMEs in India.
ii.This involves implementing lean tools and techniques to improve the productivity, efficiency, and competitiveness of MSMEs.
About Quality Council of India (QCI)
It is the autonomous organization under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry
Chairperson – Jaxay Shah
Secretary General- Rajesh Maheshwari
Headquarters – New Delhi, Delhi.
Establishment – 1997
Meta Partners with PTI to Expand its Fact-Checking Program in India
- Under this partnership PTI will identify, review, and rate content for misinformation across Meta platforms.
- With this collaboration, Meta now has 12 fact-checking partners in India, the highest in any country, covering 16 Indian languages (besides English) through existing fact-checking partners.
Note:Meta owns and operates Facebook, Instagram, Threads, and WhatsApp, among other.
Purpose: Meta’s fact-checking program in India includes partnerships with independent fact-checking organisations to prevent the spread of misinformation on its platforms.
Fact-Checking Mechanism:
i.Meta teams up with certified fact-checkers through the International Fact-Checking Network (IFCN) to assess and rate viral misinformation across Facebook, Instagram, and WhatsApp.
ii.Misinformation flagged by fact-checkers results in reduced distribution and includes notifications and warning labels for users attempting to share such content.
Program Evolution:
i.Meta’s fact-checking initiative began in 2016, to address viral misinformation.
ii.The program focuses on addressing timely and consequential misinformation, particularly clear hoaxes that have no factual basis.
Global Impact:
i.Since 2016, fact-checking programme of Meta has expanded to include nearly 100 organisations across the world.
ii.The programme aims to address viral misinformation, particularly clear hoaxes that have no basis in fact.
About Meta Platforms, Inc.:
Launched in 2004, Facebook was rebranded as Meta in 2021.
Founder and CEO– Mark Zuckerberg
Headquarters– California, The United States of America (USA)
MoHFW Mandates Linking of CGHS Beneficiary ID with Ayushman Bharat Health Account ID
- This is aimed at creating digital health identification for CGHS beneficiaries and storing their digital health records.
- The MoHFW stated that all existing beneficiaries must complete the linking process within 30 days.
About CGHS:
i.CGHS was started in 1954 with the objective of providing comprehensive health care to Central Government employees, pensioners, and their dependent family members.
ii.According to the MoHFW, approximately 42 lakh beneficiaries are covered under CGHS in 80 cities.
iii.It offers healthcare based on allopathic and homoeopathic medicine, as well as ayurveda, unani, siddha, and yoga.
About ABHA:
i.The Ayushman Bharat Digital Mission (ABDM) was launched under the National Digital Health Mission (NDHM) in 2021.
ii.It provides a digital health ID, i.e., the Ayushman Bharat Health Account (ABHA), to people, which will contain their health records.
- ABHA is a unique health identifier as a random 14-digit number and may be issued digitally or in the form of a hard copy.
iii.It aims to develop a platform enabling the interoperability of health data within the health ecosystem to create longitudinal Electronic Health Records (EHR) for every citizen.
iv.As per 24th January 2024 data, a total of 52,50,15,110 АВНА Numbers have been created.
MCD Extends Deadline for Geo-tagging of Properties Till 30 June 2024
- Technical glitches and other issues prevented many taxpayers from registering their properties within the initial deadline.
- This marks the 3rd extension granted by the MCD for the geo-tagging initiative.
Note: MCD is one of the largest municipal bodies in the world providing civic services to approximately 20 million citizens of Delhi.
Previous Deadlines:
i.Initially, MCD aimed at geo-tagging 15 lakh homes in Delhi by 31 January 2024.
ii.However, the deadline was subsequently postponed to 29 February 2024 and then to 31 March 2024.
Note: So far, only 3.5 lakh out of the targeted 15 lakh homes in Delhi have been successfully geo-tagged.
Consequences of Non-Compliance:
Taxpayers failing to geo-tag their properties by 30 June cannot avail of the rebate on lump-sum tax payments for the current financial year (2024-25).
What is Geo-tagging of properties?
i.It is a process that involves assigning a unique latitude-longitude coordinate to a property on a Geographic Information System (GIS) map.
ii.This is done by associating the property’s location with a Unique Property Identification Code (UPIC).
iii.It ensures each property has its location pinpointed with specific Latitude-Longitude coordinates.
iv.By accurately mapping properties, the MCD aims to simplify various civic services, enhance urban planning, and improve overall governance efficiency.
Note: In December 2023, the MCD made geo-tagging of all kinds of properties mandatory for availing of property tax exemption.
Importance of Geo-Tagging:
i.Geo-tagging enables precise location identification of individual properties.
ii.It facilitates better service delivery to citizens by MCD.
iii.Geo-tagging exercises for properties will yield benefits to both the corporation as well as residents.
IICA & HP India launch ESG Professional Programme
The Indian Institute of Corporate Affairs (IICA) has partnered with HP India to launch the “HP Future Impact Leaders – IICA Certified Environmental – Social – Governance (ESG) Professional Programme” to promote sustainability and empower corporate social responsibility (CSR) professionals to emerge as leaders in navigating the intricacies of ESG frameworks.
- Under this programme, 100% scholarships will be offered to 75 candidates to pursue advanced education in ESG.
- Candidates must possess a bachelor’s degree in any discipline and a minimum of five years of experience in relevant fields to be eligible for the programme.
Note: IICA is an autonomous Institute under the Ministry of Corporate Affairs(MCA), that serves as a think tank, capacity-building, and service delivery organization in the field of corporate affairs and corporate governance.
BANKING & FINANCE
TATA AIG General Insurance Company Introduces ‘Travel Guard Plus’ Insurance Product
- This product caters to the diverse travel needs of people, with a wide range of plans, where 41 different types of covers have been packaged ensuring a stress-free experience.
Key Features:
i.Customers can choose from 3 add-on bundles: Cruise Bundle, Travel Plus Bundle, and Accident Bundle, catering to specific needs.
ii.Travel Guard Plus covers Loss of Personal Baggage, Compassionate Travel/Stay, Accommodation extension, Upgrade to Business class, Personal Accident in India, and Instant Gratification for flight delays or cancellations.
iii.The customers can customize the coverage further with optional assistance services including Care at Home, Baggage tracking, and Lost Passport tracking.
New Features:
i.Annual Multi-Trip cover with up to 180 days per trip duration.
ii.Single Trip option with a policy duration of up to 365 days.
iii.Non-medical coverage plan for students or short-duration travelers.
iv.A separate plan for Schengen geo-scope.
v.New age covers include pandemic coverage and adventure sports.
Special Plans:
i.Senior Plus plan for higher medical sum insured up to USD 100,000 (71-80 years).
ii.Super Senior plan for higher medical sum insured up to USD 50,000 (>80 years).
About Tata AIG General Insurance Company Limited:
It is a joint venture (JV) between the Tata Group and the American International Group (AIG)
Chairman– Saurabh Agrawal
MD & CEO– Neelesh Garg
Headquarters– Mumbai, Maharashtra
Established on 22nd January 2001
ECONOMY & BUSINESS
World Bank projects Indian Economy to grow at 7.5% in 2024; EAP is projected to ease to 4.5% in 2024
- India’s output growth is forecasted to reach 7.5% in FY 2023-24 (FY24) before moderating to 6.6% in FY25, primarily due to a deceleration in investments.
- South Asia is projected to maintain its status as the fastest-growing Emerging Market and Developing Economy (EMDE) region globally for the next two years, with growth anticipated at 6.1% in 2025.
ii.The WB in its semi-annual economic outlook titled ‘East Asia and Pacific April 2024 Economic Update, April 2024: Firm Foundations of Growth‘ projected East Asia and Pacific’s (EAP) growth to ease to 4.5% in 2024 from 5.1% in 2023, with developing EAP excluding China expected to pick up to 4.6% from 4.4% in 2023.
About World Bank (WB):
WB Group President– Ajay Banga
Headquarters– Washington, DC, USA
Establishment– 1944
>> Read Full News
BMW Group and Tata Tech Signed JV Agreement to Develop Automotive Software and IT Hub
The Bayerische Motoren Werke (BMW) Group, and Tata Technologies Limited, a subsidiary of Tata Motors Limited, have signed an agreement to form a Joint Venture (JV) to establish an Automotive Software and Information Technology (IT) development Hub in Pune(Maharashtra), Bengaluru (Karnataka) and Chennai(Tamil Nadu).
- The JV will supply automotive software, including Software-defined Vehicle (SDV) solutions for the premium vehicles in the BMW Groups and digital transformation solutions for its business IT.
- Bengaluru and Pune will be the main centres of operations and development. In Chennai, the primary focus would be on business IT solutions.
Note: Tata Tech, based in Pune, is a global product engineering and digital services company. Munich, Germany-based BMW is the world’s leading provider of premium cars and motorcycles
APPOINTMENTS & RESIGNATIONS
Abdel Fattah Al-Sisi sworn in as Egypt’s President for the 3rd Term
- He has won the election in December 2023 with 89.6% of the votes and with no major challengers.
Note: The $58 billion New Administrative Capital is located in the desert east of Cairo and is the largest of the mega projects, which also include an expansion of the Suez Canal, extensive road building, and other new cities.
Key Points:
i.The presidency of Al-Sisi first came into power after the country’s first popularly elected president, Mohamed Morsi was overthrown in 2013. He was then re-elected in 2018 with 97 percent votes in both the previous elections.
ii.He extended the presidential tenure from four to six years and revised the constitution to increase the cap on consecutive terms in office from two to three.
About Abdel Fattah Al-Sisi
i.Sisi graduated from the Egyptian Military Academy in 1977 and then he served in the infantry. In 2010 he was appointed to the post of director of military intelligence.
ii.Sisi became the youngest member of the Supreme Council of the Armed Forces (SCAF) in 2011, a body of senior military officers that took over the governing of Egypt.
iii.He was then promoted to the positions of defense minister and commander of the armed forces in August 2012.
About Egypt:
President – Abdel Fattah Al-Sisi
Capital – Cairo
Currency – Egyptian Pound
Sorin Investment Fund Chairman Sanjay Nayar takes over as ASSOCHAM President for 2024-25
- Sanjay Nayar replaced Ajay Singh, Chairman & Managing Director(CMD) of Spicejet, who served as ASSOCHAM’s President for 2023-24.
About Sanjay Nayar:
i.Sanjay Nayar has previously served as the Chief Executive Officer(CEO) of Citigroup’s Indian and South Asian operations and was a member of Citigroup’s Global Management Committee and Asia Executive Operating Committee.
ii.He established KKR India operations in 2009 after leaving Citigroup.
iii.After serving as the CEO, Chairman, and Senior Advisor of KKR, he retired in April 2023.
iv.He also served on the Asian investment and portfolio management committees of KKR.
v.He also serves as Non-Executive Director at NYKAA, an Indian e-commerce company.
Affiliations:
i.A non-official member of the Board of Trade, a key advisory body to the Ministry of Commerce and Industry(MoCI) representing the private sector.
ii.Advisor to the Board of the USA-India Strategic Partnership Forum (USISPF).
iii.Member of the Governing Board of the Indian School of Business (ISB).
iv.Advisory Board member of Habitat for Humanity.
v.Chairman of Grameen Impact Investments India (GIII).
vi.Founder and Board Member of the Centre for Social and Economic Progress (CSEP).
About Associated Chambers of Commerce and Industry of India (ASSOCHAM):
President– Sanjay Nayar
Headquarters– New Delhi, Delhi
Established in– 1920
ACQUISITIONS & MERGERS
CCI approvals on 2nd April 2024
i.Acquisition of shares of MG Motor India Private Limited by IndoEdge India Fund- Large Value Fund (LVF) scheme.
ii.Acquisition of CCPS in Northern Arc Capital Limited by International Finance Corporation (IFC).
iii.Acquisition of Nagarjuna Fertilizers and Chemicals Limited (NFCL) Assets and 100% shareholding of Greenko ZeroC Private Limited (ZeroC) by AMG India.
iv.Acquisition of 10.39% of Annapurna Finance and subscription to its certain debentures by Piramal Alternatives Trust.
v.Acquisition of 100% equity stake of Sharekhan Limited and Human Value Developers Pvt. Ltd collectively by Mirae Asset Capital Markets (India) Pvt. Ltd. and Mirae Asset Securities Co. Ltd. respectively.
vi.Subscription of CCPS of Pritam International Pvt. Ltd. by India Advantage Fund S5 I, HCL Corp, Mirabilis Investment Trust, Aashil Apurva Shah and Ansh Ashit Shah.
vii.Subscription to 14,25,79,161 equity shares of Max Life Insurance Company Limited by Axis Bank Limited.
About the Competition Commission of India(CCI):
It is a statutory body constituted under the Competition Act,2002.
CCI was established in 2003, although it became fully functional only by 2009.
Chairperson– Ravneet Kaur
Headquarters– New Delhi, Delhi
>> Read Full News
F1 owner Liberty Media acquires MotoGP owner Dorna Sports
The Liberty Media Corporation(Liberty Media) has signed an agreement to acquire approximately 86% of Dorna Sports, S.L.(Dorna), the exclusive commercial and television rights holder of MotoGP(Grand Prix motorcycle racing), from Bridgepoint and Canada Pension Plan Investment Board (CPP Investments).
- The equity consideration comprises 65% cash, 21% in shares of Series C Liberty F1 common stock.
- Dorna management retains ~14% of their equity in the business and the transaction reflects an enterprise value for MotoGP of 4.2 billion Euro and an equity value of 3.5 billion Euro with the existing debt balance at MotoGP.
- The acquisition is expected to be completed by year-end 2024 and is subject to the receipt of clearances and approvals by competition and foreign investment law authorities
Carmelo Ezpeleta, CEO of Dorna since 1994, will continue to run Dorna and the headquarters of Dorna will remain in Madrid, Spain.
Note: Liberty Media is the United States of America(USA) based-media company that owns the Formula One(F1) Group.
SCIENCE & TECHNOLOGY
WHO’s unveils S.A.R.A.H, its 1st AI-Powered Digital Health Promoter 
- The digital health promoter was launched ahead of World Health Day 2024 (7th April 2024) observance focused on ‘My Health, My Right’.
Key Points:
i.S.A.R.A.H., also known as Sarah, is supported by Biological AI technology of Soul Machines Limited.
ii.Sarah utilizes Gen-AI for enhanced empathetic responses and real-time accuracy, offering dynamic personalized conversations 24 hours a day in 8 languages across multiple health topics on any device.
iii.It aims to empower users to optimize their health and well-being journey, providing nuanced, empathetic responses in a judgment-free environment.
iv.Trained to cover major health topics, including healthy habits and mental health, S.A.R.A.H. assists users in understanding risk factors for leading causes of death worldwide, offering up-to-date information on topics such as quitting tobacco, physical activity, and healthy diet.
Note: Previously, WHO used a digital health worker named Florence during the COVID-19 pandemic to disseminate critical public health messages on the virus, vaccines, tobacco use, healthy eating and physical activity.
About World Health Organization (WHO):
Director-General– Dr Tedros Adhanom Ghebreyesus
Headquarters– Geneva, Switzerland
Establishment– 1948
OBITUARY
Golden Globe-winning American actress Barbara Rush Passed Away
Veteran American actress Barbara Rush passed away at the age of 97 in Los Angeles, California, the United States of America (USA). She was born on 4th January 1927, in Denver, Colorado, USA.
- She won a Golden Globe Award in the ‘New Star of The Year’ (actress) category in 1954 for her role in ‘It Came from Outer Space’.
- She was known for her roles in movies like ‘The Young Philadelphians’, ‘The Young Lions’, ‘Robin and the 7 Hoods’, and ‘Hombre’.
- She also acted in the television series ‘Peyton Place’, ‘All My Children’, and ‘7th Heaven’.
IMPORTANT DAYS
260th Raising Day of the Army Medical Corps – 3rd April 2024
- The Raising Day of AMC commemorates the founding day of the AMC and pays tribute to the medical personnel who have sacrificed their lives in the line of duty.
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List of Less Important News – Click Here
Current Affairs Today (AffairsCloud Today)
| Current Affairs 4 April 2024 |
|---|
| QCI and LUB Signed MoU to Boost MSME Competitiveness |
| Meta Partners with PTI to Expand its Fact-Checking Program in India |
| MoHFW Mandates Linking of CGHS Beneficiary ID with Ayushman Bharat Health Account ID |
| MCD Extends Deadline for Geo-tagging of Properties Till 30 June 2024 |
| IICA & HP India launch ESG Professional Programme |
| TATA AIG General Insurance Company Introduces ‘Travel Guard Plus’ Insurance Product |
| World Bank projects Indian Economy to grow at 7.5% in 2024; EAP is projected to ease to 4.5% in 2024 |
| BMW Group and Tata Tech Signed JV Agreement to Develop Automotive Software and IT Hub |
| Abdel Fattah Al-Sisi sworn in as Egypt’s President for the 3rd Term |
| Sorin Investment Fund Chairman Sanjay Nayar takes over as ASSOCHAM President for 2024-25 |
| CCI approvals on 2nd April 2024 |
| F1 owner Liberty Media acquires MotoGP owner Dorna Sports |
| WHO’s unveils S.A.R.A.H, its 1st AI-Powered Digital Health Promoter |
| Golden Globe-winning American actress Barbara Rush Passed Away |
| 260th Raising Day of the Army Medical Corps – 3rd April 2024 |
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