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Current Affairs 5 April 2024

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Report on Energy Transitions to achieve India’s net-zero Targets by IIM-A LaunchedLaunch of the report on energy transitions to achieve India’s net-zero targetsOn April 3, 2024, a report titled Synchronizing Energy Transitions Toward Possible Net Zero for India: Affordable and Clean Energy for All prepared by IIM-A (Indian Institute of Management- Ahmedabad) Gujarat, under the sanction of the Office of the Principal Scientific Adviser to the Government of India (GoI) was launched during a meeting held in New Delhi, Delhi. It was launched by Prof. Ajay Kumar Sood, Principal Scientific Adviser (PSA) to the GoI.

  • The reports part-funding (one-third) is from Nuclear Power Corporation of India Ltd (NPCIL).
  • The report aims to analyze the energy transition necessary for achieving a net-zero energy basket for India.

Key Points:
i.The report’s study, initiated in November 2021, focuses on minimizing power costs for consumers and determining an optimal power mix for net-zero emissions.
ii.Led by Prof. Amit Garg, the project team at IIM Ahmedabad collaborated with an expert group chaired by Dr. R. B. Grover, comprising experts from various power generation sectors.
iii.The report addresses critical questions regarding India’s energy trajectory, energy mix projections, cost of electricity, carbon emissions, required investments, and challenges and opportunities in achieving net-zero emissions by 2070.
i.Substantial nuclear power and renewable energy generation are essential for net-zero by 2070, necessitating decarbonization of the electricity sector well before then.
ii.India’s emissions in 2070 are estimated between 0.56 btCO2 (billion-tonne of carbon dioxide) and 1.0 btCO2, with the remaining gap offset through sequestration as per Nationally Determined Contributions (NDCs).
iii.Active policies on critical minerals and carbon dioxide removal technologies are crucial for coal phase-down.
iv.Clean, affordable electricity can be achieved through a focus on nuclear and renewable power, alongside widespread electrification of end-use sectors i.e upto 47-52% electricity share in Total Final Electricity Consumption (TFEC) compared to 18% at present.
v.Financial requirements for 2020-2070 are estimated at Rs 150-200 lakh Crore, with significant international financial flows necessary.

India to Build First Strategic Petroleum Reserve with Private Company by 2029-30India to build first commercial crude oil strategic storageIndia, the world’s third biggest oil importer and consumer, plans to build its first privately managed Strategic Petroleum Reserve (SPR) by 2029-30.

  • Indian Strategic Petroleum Reserves Ltd. (ISPRL), a Special Purpose Vehicle (SPV), was created by the government of India under the Ministry of Petroleum and Natural Gas in 2004 to maintain strategic petroleum reserves in the country.
  •  It has invited bids for constructing 2.5 million tonnes of underground storage at Padur in Karnataka.

i.The establishment of Strategic Petroleum Reserves (SPR) was proposed in 1998 by the Atal Bihari Vajpayee cabinet as a means of addressing the issue of energy insecurity.
ii.It was set up in two phases : The first phase, ISPRL constructed a strategic petroleum reserve in three locations: Visakhapatnam (1.33 million tonnes)Andhra Pradesh, Mangalore (1.5 million tonnes)Karnataka, and Padur (2.5 million tonnes) Karnataka. They have fuel storage of a total 5.33 MMT (Million Metric Tonnes).
Note: The Phase-I storage were built at government expense.
Phase II
i.In the second phase of the programme, the government develops strategic reserves through public-private partnerships so as to reduce government spending and exploit the commercial potential of the reserves.
ii.It will involve the construction of SPR in underground unlined rock caverns, along with related above-ground facilities, such as dedicated SPM and related offshore and onshore pipelines, at an estimated cost of Rs 5,514 crores, to store 2.5 million tonnes of crude oil at Padur-II.
Note: India has also decided to commercialize its SPRs. As part of this, Abu Dhabi National Oil Company (ADNOC) stored about 0.8 million tonnes of crude oil in the Mangalore strategic reserve.


Bernard Arnault Tops Forbes World’s Billionaires List 2024, Mukesh Ambani Tops in IndiaForbes richest list 2024 Mukesh Ambani tops in India, Gautam Adani at 2On April 2, 2024, Forbes released its 38th annual World’s Billionaires list – ‘Forbes World’s Billionaires List: The Richest in 2024‘ in partnership with J.P. Morgan Bank. Bernard Arnault (France), Chief Executive Officer (CEO) of LVMH Moët Hennessy Louis Vuitton (LVMH ) topped the list with a net worth of USD 233 Billion.

  • He is followed by Elon Musk, CEO of Tesla Motors with a net worth of USD 195 Billion and Jeff Bezos, founder & Former CEO of Amazon with USD 194 Billion at 3rd place.

Mukesh Ambani, Chairman And Managing Director(CMD) of Reliance Industries Limited (RIL), ranked 9th globally with a net worth of USD 116 Billion, becomes the richest man in India. He is the only Indian to feature among the top 10.

  • He also became the first Asian to break into the USD 100 billion club.
  • Gautam Adani became the 2nd richest Indian with a net worth of USD 84 billion followed by Shiv Nadar as 3rd richest with a net worth of USD 36.9 billion.

Note: Forbes used stock prices and exchange rates from 8th March 2024, to calculate net worth.
About Forbes:
Forbes is a global media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle.
Chief Executive Officer (CEO)– Mike Federle
Headquarters– New Jersey, the United States of America (USA)
Establishment– 1917
>> Read Full News

Romania & Bulgaria Partially Join Europe’s Schengen Travel ZoneRomania And Bulgaria Partially Join Schengen Travel Zone As of 31st March 2024, Romania and Bulgaria became the newest Member States to partially join the Schengen area, the Europe’s ID-check-free travel zone. With this any person crossing the internal air and sea borders will no longer be subject to checks.

  • With this, the Schengen area now has 29 members.

i.Bulgaria and Romania have successfully accomplished the Schengen evaluation process set out in their Treaties of Accession, taking all the necessary measures to ensure application of all relevant parts of the Schengen acquis.
ii.In 2011, the European Commission (EC) confirmed that Romania and Bulgaria have met the technical criteria for full accession.
iii.In 2022, Austria vetoed the full accession of Romania and Bulgaria to Schengen, but allowed Croatia full accession. Croatia joined as a 27th Schengen member in January 2023.
Schengen Area:
i.The Schengen Area is a free travel area that includes most of the European Union(EU) members (27 European countries) except Ireland and Cyprus, and the European Free Trade Association (EFTA) member states of Iceland, Liechtenstein, Norway, and Switzerland.
ii.The Schengen Area was created by the Schengen Agreement, a treaty signed by Belgium, Germany, France, Luxembourg and the Netherlands , the member states of the European Economic Community (EC) in the town of Schengen, Luxembourg on June 14, 1985.
Points to note:
i.Both countries have agreed to implement random security screenings at airports and maritime borders to address illegal migration and cross-border crime.
ii.Bulgaria aims for full Schengen accession by the end of 2024, bolstering efforts to discourage illegal migration; emphasises Bulgaria’s role in European security.

  • Lifting border controls is expected to streamline operations at Bulgaria’s 4 international airports. Sofia Airport, the major hub, handles 70% of Schengen flights.

iii.Romania is also expected to finish negotiations on land borders in 2024 and express determination for full Schengen Area accession by the end of the year.

  • As per Romania’s government, Schengen rules would apply to 4 seaports and 17 airports, with Otopeni airport serving the biggest hub for Schengen flights.

About Bulgaria:
Capital– Sofia
President– Rumen Radev
Currency– Bulgarian lev (BGN)
About Romania:
Capital– Bucharest
President– Klaus Iohannis
Currency– Romanian Leu (RON)


PM Modi addresses RBI@90 Programme; RBI marks 90 yearsPM Modi addresses ceremony marking 90 years of RBIPrime Minister (PM) Narendra Modi addressed the opening ceremony of RBI@90, as the Reserve Bank of India (RBI) marked its 90th year on April 1, 2024. The ceremony took place at National Centre for the Performing Arts in Mumbai, Maharashtra.
i.A special Rs 90 coin was unveiled by Prime Minister Narendra Modi to commemorate 90 years of RBI.
ii.RBI was established on 1st April,1935, based on the recommendation of Hilton Young Commission (formed in 1926).
About Reserve Bank of India(RBI):
Governor: Shaktikanta Das
Headquarters : Mumbai, Maharashtra
Established: 1 April, 1935
>> Read Full News

UPI Transactions Volume Increased by 56% in H2 2023: WorldlineUPI dominance UPI transactions posts 56% YoY volume growth in H2 2023 WorldlineAccording to Worldline India Digital Payments Report H2 2023 the Unified Payments Interface (UPI) transactions volume in the second half (H2) of 2023 (July 2023 – December 2023) increased by 56% to 65.77 billion from 42.09 billion in H2 2022.

  • The value of transactions increased by 44% from Rs 69.36 Lakh Crore to Rs 99.68 lakh crore.
  • The ATS of UPI transactions reduced by 8% to Rs 1515 from Rs 1648 in H2 2022.

Points to note:
i.The payments acceptance infrastructure channels have developed between July 2022 and December 2023, Point of Sale (PoS) terminals grew by 26% to 8.56 million
ii.The value of card transactions in H2 2023 was Rs 12.66 Lakh crore, an increase of 13% from H2 2022.
iii.The volume of Online transactions via mobile phone apps increased by 38% to 62.95 billion(H2 2023) from 45.58 billion(H2 2022).
About Worldline:
Worldline is a multinational payment and transactional services company.
Chief Executive Officer(CEO)– Gilles Grapinet
Headquarters– La Defense, France
Established in 1972
>> Read Full News

Canara Bank launches Loan Products to meet Hospitalization ExpensesCanara Bank launches loan products to meet hospitalisation expensesOn 3rd April 2024, Canara Bank launched a range of innovative products aimed at enhancing financial inclusivity and addressing healthcare needs.
Details of the New Products:
i.Canara Heal: A healthcare loan product to cover hospitalization expenses beyond insurance limits, available at competitive interest rates.
ii.Canara Angel: A custom savings account for women with unique features like cancer care policy
iii.Canara ReadyCash, a pre-approved personal loans
iv.Canara MyMoney, an online loan against term deposit product.
Other Launches:
The event also witnessed the launch of
i.Canara UPI 123PAY ASI: A user-friendly payment interface introduced by the bank for convenient transactions.
ii.Canara HRMS Mobile App for Staff: HR (Human Resource) management solution launched for staff members to streamline HR processes.
iii.Rajesh Bansal, Chief Executive Officer (CEO) of the Reserve Bank Innovation Hub (RBHI) launched Canara SHG e-MONEY, a Digital Self Help Group (SHG) Initiative.
iv.Rajesh Bansal also exchanged a White paper on Digital SHG with K Satyanarayana Raju, Managing Director (MD) and CEO of Canara Bank.

  • It will help the customers to get instant digital credit in their account, according to the statement.

About Canara Bank:
The Canara Bank, established in 1906, was nationalised in 1969.
MD & CEO– K Satyanarayana Raju
Headquarters– Bengaluru, Karnataka
Tagline– Together We Can

PhonePe & Star Health Insurance Partners to Offer ‘Star Comprehensive Insurance Policy’Star, PhonePe launch India's first monthly payment insurance policyPhonePe has partnered with Star Health and Allied Insurance Company Ltd. (Star Health Insurance), India’s largest retail health insurance Company, to offer customers health insurance with a monthly and annual payment option.

  • This will enable users to avail ‘Star Comprehensive Insurance Policy’ on the PhonePe app with coverage up to Rs 1 Crore.

Note: Star Health Insurance is India’s largest retail health insurance company; PhonePe is one of India’s leading digital payment apps.
Key Features:
i.Users can also choose monthly payments through the Unified Payments Interface (UPI) AutoPay mandate with a monthly Equated Monthly Installment (EMI) option, making health insurance more accessible.
ii.This end-to-end health insurance policy includes popular features such as Outpatient Department (OPD) and maternity coverage, with a sum insured up to Rs. 1 Crore.
iii.Coverage includes road and air ambulance expenses, OP medical consultation (up to the limits), OP coverage for dental and ophthalmic treatment, delivery expenses, organ donor expenses, coverage for newborn babies, mental illnesses, and more.
iv.Mental illnesses are covered up to the sum insured; No sub-limits for daycare procedures
v.Accidental death and permanent total disablement are covered up to Rs. 1 Crore
Purchase Process: Users can purchase the policy directly through the PhonePe app, selecting desired coverage and payment options, filling in necessary details, and completing the Know Your Customer (KYC) form and declarations.
About Star Health and Allied Insurance Co Ltd. (Star Health Insurance):
Star Health Insurance commenced operations in 2006 as India’s first Standalone Health Insurance Company.
Managing Director (MD) & Chief Executive Officer (CEO)– Anand Roy
Headquarters– Chennai, Tamil Nadu


Shiny Wilson Nominated as a Member of Athletic Commission of Asian Athletics AssociationShiny Wilson Nominated as a Member of Athletic Commission of Asian AthleticsFormer Indian track and field athlete Shiny Kurisingal Abraham Wilson was nominated as a member of the Athletic Commission of the Asian Athletics Association (AAA) for four years (2024–2028).

  • She was nominated as a member in a virtual meeting led by the Chairman of the Athletic Commission, Mohammad Suleiman (Qatar).

About Shiny Wilson:
i.Shiny Wilson won a silver medal in the women’s 400m race event at the 1986 Asian Games in Seoul, South Korea.

  • In the same tournament, she won the gold medal in the women’s 4x400m relay event, along with P.T. Usha, M. D. Valsamma, and Vandana Rao.

ii.She clinched the silver medal in the women’s 4x400m relay event along with P.T. Usha, G. V. Dhanalakshmi, and Kutty Saramma at the 1994 Asian Games in Hiroshima, Japan.

  • In the same tournament, Shiny also won a bronze medal in the women’s 800m race event.

iii.Shiny represented India at the four Olympic Games, including 1984 Los Angeles (United States of America – USA), 1988 Seoul(South Korea), 1992 Barcelona(Spain) and 1996 Atlanta(USA).
iv.She became the first Indian woman to be the flagbearer for the Indian contingent at the 1992 Barcelona Olympics.
i.Shiny Wilson was awarded the Padma Shri in 1998 in the field of sports.
ii.She also received the Arjuna Award in 1985.
About Asian Athletics Association:
President – Gen.Dahlan Jaman B. Al-Hamad (Qatar)
Headquarters – Bangkok, Thailand
Established – 1973

Ousmane Sonko Appointed as the Prime Minister of Senegal
The Senegal President Bassirou Diomaye Faye appointed Ousmane Sonko as the Prime Minister(PM) of Senegal in his first act as President.

  • Sonko was the opponent of former President Macky Sall in the March 2024 presidential contest but he was disqualified due to a defamation conviction.
  • Ousmane Sonko replaced Sidiki Kaba as the new prime minister. Sidiki Kaba was appointed as the prime minister by former President Macky Sall in March 2024.

Note:  Bassirou Diomaye Faye was newly appointed as the President of Senegal on April 2 2024.

Sheyphali B Sharan Takes Charge as Principal Director General of PIB
On April 1, 2024, Sheyphali B. Sharan took charge as the Principal Director General (PDG) of the Press Information Bureau (PIB) by succeeding Manish Desai, who attained retirement on March 31, 2024.

  • Sheyphali Sharan, an Indian Information Service (IIS) Officer of 1990 batch, became the fifth woman officer to head PIB.
  • She served as the spokesperson of the Election Commission during the 2019 Lok Sabha elections.
  • She has also served as the Director of the Ministry of Health and Family Welfare (Department of Traditional Systems of Medicine/AYUSH) from 2002 to 2007 and the Ministry of Finance (Department of Economic Affairs 2013 to 2017).


MoHFW Launched myCGHS iOS app for CGHS BeneficiariesUnion Health Ministry launches myCGHS iOS appMinistry of Health and Family Welfare (MoHFW) launched the myCGHS app for the iPhone Operating System (iOS) devices to advance in healthcare accessibility for Central Government Health Scheme (CGHS) beneficiaries.

  • The app was launched by Apurva Chandra, Secretary of the MoHFW in an event held in New Delhi, Delhi.
  • The app is designed to enhance access to Electronic Health Records, information, and resources for CGHS beneficiaries.

About MyCGHS App:
i.The myCGHS app signifies a pivotal moment in digital healthcare service within the Department of CGHS, aligning with the government’s technology-driven vision for enhanced quality and accessibility of healthcare services.
ii.The myCGHS iOS app is developed by the technical teams of the National Informatics Centre (NIC) Himachal Pradesh and the NIC Health Team.
iii.This easy-to-access mobile application offers features aimed at enhancing information and accessibility for CGHS beneficiaries.
iv.The range of services offered by the app includes online appointment booking and cancellation; downloading CGHS card and index card; accessing lab reports from CGHS labs, checking medical reimbursement claim status and referral details, etc.,.
v.The app incorporates 2-factor authentication and mPIN functionality to safeguard user data integrity and confidentiality.
Note: The myCGHS app will be available for free download on both iOS and Android platforms, leading to a new era of digital healthcare services.
About Ministry of Health and Family Welfare (MoFHW):
Union Minister– Mansukh Mandaviya (Rajya Sabha- Gujarat)
Minister of State– Dr. Bharati Pravin Pawar (Constituency- Dindori, Maharashtra)

FLEX’ lunar rover successfully tested in California’s Mojave Desert by Venturi Astrolab Inc
Venturi Astrolab Inc, a Los Angeles, United States (US)-based startup, has successfully tested a groundbreaking lunar rover prototype, the Flexible Logistics and Exploration (FLEX) rover, in California’s Mojave Desert.
Key Points:
i.Piloted by retired Canadian astronaut Chris Hadfield and MIT (Massachusetts Institute of Technology) aerospace graduate student Michelle Lin, the FLEX rover demonstrated agility and capabilities, including setting up a vertical solar array.
ii.It is designed for National Aeronautics and Space Administration (NASA)’s Artemis program.

  • If integrated into the Artemis program, FLEX would mark the return of a passenger-capable rover to the lunar surface since Apollo 17 in 1972, with efficient navigation capabilities and a cargo capacity of 3,300 pounds.

iii.FLEX’s solar-powered batteries ensure survival during lunar nights, aligning with NASA’s goal of establishing a sustainable lunar base and advancing future space exploration missions.

HAL Delivers Two Dornier 228 Planes To Guyana Defence Force
Hindustan Aeronautics Limited (HAL) delivers two Dornier 228 planes to Guyana Defence Force (GDF) via Boeing C-17 Globemaster military transport planes at Cheddi Jagan International Airport (CJIA).

  • The delivery follows Guyanese President Mohamed Irfaan Ali’s visit to an HAL facility in India over a year ago.
  • The Dornier 228 aircraft is known for its versatility and reliability. It is suitable for diverse military and civilian applications such as surveillance, reconnaissance, medical evacuation, and transport operations.


International Day for Mine Awareness and Assistance in Mine Action 2024 – April 4International Day for Mine Awareness and Assistance in Mine Action - April 4 2024 The United Nations (UN)’s International Day for Mine Awareness and Assistance in Mine Action is annually observed across the globe on 4th April to raise awareness and encourage the establishment and development of national mine-action capacities in affected countries.

  • 4th April 2024 marks the observance of the 19th International Day for Mine Awareness and Assistance in Mine Action.
  • The annual observance is led by the United Nations Mine Action Service (UNMAS).

The theme for International Day for Mine Awareness & Assistance in Mine Action 2024 is ‘Protecting Lives, Building Peace.’
i.On 8th December 2005, the UN General Assembly (UNGA) adopted the resolution A/RES/60/97 and proclaimed the 4th April of every year as  International Day for Mine Awareness and Assistance in Mine Action.
ii.The 1st ever International Day for Mine Awareness and Assistance in Mine Action was observed on 4th April 2006.
About United Nations Mine Action Service (UNMAS):
UNMAS is based at the UN Headquarters in New York, The United States of America (USA).
Director– Ilene Cohn
Established in– 1997
>> Read Full News


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Current Affairs Today (AffairsCloud Today)

Current Affairs 5 April 2024
Report on Energy Transitions to achieve India’s net-zero Targets by IIM-A Launched
India to Build First Strategic Petroleum Reserve with Private Company by 2029-30
Bernard Arnault Tops Forbes World’s Billionaires List 2024, Mukesh Ambani Tops in India
Romania & Bulgaria Partially Join Europe’s Schengen Travel Zone
PM Modi addresses RBI@90 Programme; RBI marks 90 years
UPI Transactions Volume Increased by 56% in H2 2023: Worldline
Canara Bank launches Loan Products to meet Hospitalization Expenses
PhonePe & Star Health Insurance Partners to Offer ‘Star Comprehensive Insurance Policy’
Shiny Wilson Nominated as a Member of Athletic Commission of Asian Athletics Association
Ousmane Sonko Appointed as the Prime Minister of Senegal
Sheyphali B Sharan Takes Charge as Principal Director General of PIB
MoHFW Launched myCGHS iOS app for CGHS Beneficiaries
‘FLEX’ lunar rover successfully tested in California’s Mojave Desert by Venturi Astrolab Inc
HAL Delivers Two Dornier 228 Planes To Guyana Defence Force
International Day for Mine Awareness and Assistance in Mine Action 2024 – April 4

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