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Current Affairs 9 April 2024

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RECPDCL Handed Over Kallam Transco Limited SPV to Indigrid & Jalpura Khurja Power Transmission Limited SPV to Tata PowerRECPDCL hands over Kallam Transco Limited SPV to Indigrid On 5 April 2024, REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, handed over 2 project-specific Special Purpose Vehicles (SPVs) namely, Kallam Transco Limited and Jalpura Khurja Power Transmission Limited to their successful bidders.

  • These SPVs formed for implementation of two power transmission projects.

Key People:
The handover ceremony took place in the presence of Rajesh Kumar, Chief Executive Officer (CEO) of RECPDCL, and senior officials from RECPDCL, REC Limited, Central Transmission Utility of India Limited (CTUIL), and Uttar Pradesh Power Transmission Corporation Limited (UPPTCL).
SPV Details:
Kallam Transco Limited:
i.Kallam Transco Limited was formed for the “Western Region Network Expansion Scheme in the Kallam area of Maharashtra.”

  • This is an Interstate Transmission Project of the Ministry of Power, Government of India (GoI).

ii.The SPV was handed over to M/s Indigrid 2 Limited & Indigrid 1 Limited (Consortium).
Jalpura Khurja Power Transmission Limited:
i.SPV was formed for the Construction of 400/220 kilovolt(kV), 2×500 megavolt-amperes (MVA) Gas Insulated Switchgear (GIS) substation Metro Depot (Greater Noida) in Uttar Pradesh(UP) with associated lines and 400/220 kV, 2×500 MVA GIS substation Jalpura(UP).

  • This is an intra-state project of the Government of Uttar Pradesh.

ii.SPV has been handed over to M/s The Tata Power Company Limited.
Note: RECPDCL was the Bid Process Coordinator for both the projects. The process was being executed through tariff-based bidding process.
About REC Power Development and Consultancy Limited (RECPDCL)
RECPDCL was formerly known as REC Power Distribution Company Limited.  
Chairman– Vivek Kumar Dewangan
Incorporated in 2007
Headquarters– Gurugram, Haryana

India sets the target to produce 100GW by 2047: AEC ChairmanIndia eyes 100 GW nuclear power by 2047On the sidelines of launch of the report titled Synchronizing energy transitions towards possible Net-Zero for India: Affordable and Clean Energy for All, AK Mohanty, Chairman of Atomic Energy Commission (AEC) mentioned that India aims to produce 100 GigaWatt(GW) of nuclear power by 2047.
i.India’s emissions would range between 0.56 billion-tonne of carbon dioxide (btCO2 )and 1.0 btCO2 in 2070.
ii.During 2020-2070, Government needs financial funding of about Rs 150 -200 lakh crore i.e. USD 40 to 50 billion per year
About Atomic Energy Commission (AEC) of India:
Chairman: Ajit Kumar Mohanty
Headquarters: Mumbai, Maharashtra
Established: 1948
>> Read Full News

GoI to develop Plant for recycling LIBs & E-waste in UttarakhandCentre to develop plant for recycling lithium-ion batteries, e-waste in UttarakhandThe Technology Development Board (TDB), under the Department of Science and Technology (DST), Ministry of Science and Technology (MoST), Government of India (GoI) entered into an agreement with Remine India Private Limited to establish a commercial plant for recycling lithium-ion (Li-ion) batteries (LIBs) and e-waste using indigenous technology in Sitarganj, Uttarakhand, with a total project cost of Rs 15 crore.

  • The new recycling plant will be set up at Eldeco in State Infrastructure & Industrial Development Corporation Uttarakhand Ltd. (SIIDCUL) Industrial Area in Sitarganj, Udham Singh Nagar district.

Project Overview:
i.Through the agreement, TDB has committed financial assistance of Rs 7.5 crore out of the total project cost.
ii.This aims to enhance circularity and reduce India’s reliance on imported critical mineral resources.
iii.The indigenous technology developed by the Centre for Materials for Electronics Technology (CMET), Hyderabad, Telangana is used for the efficient recycling of Li-ion batteries.

  • This will be a vital source of secondary raw materials for cell manufacturing within India.

iv.Around 78% of e-waste are not being collected in India. E-waste are the secondary raw materials of  gold, silver, copper, and rare earth elements.
Points to note:
i.The escalating imports of e-waste, particularly from spent LIBs, underline the importance of recycling initiatives to mitigate environmental and safety concerns.
ii.The disposal of LIBs through landfilling and incineration poses environmental and safety hazards.
iii.TDB’s support will facilitate informal recyclers to collaborate with formal recyclers, promoting a circular economy.
iv.The LIB recycling market is projected to reach USD 14.89 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 21.6%, up from USD 3.79 billion in 2021.
v.Despite the growth, only 5% of LIBs undergo recycling currently, while 95% of LIBs currently end up in landfills.
Note: India is currently the 3rd-largest generator of e-waste globally.
About Uttarakhand:
Chief Minister– Pushkar Singh Dhami
Governor– Lt Gen Gurmit Singh
National Parks– Nanda Devi National Park, Valley of Flowers National Park
Wildlife Sanctuaries– Govind Wildlife Sanctuary (Govind Pashu Vihar), Kedarnath Wildlife Sanctuary (Kedarnath Musk Deer Sanctuary)

Central Coalfields Limited Unveils New LogoCentral Coalfields Limited Unveils New LogoThe Central Coalfields Limited (CCL) unveiled its official brand-new logo with the tagline “Fuelling Sustainable Growth.”

  • CCL, formerly National Coal Development Corporation Ltd., is a Category-I Mini-Ratna Central Public Sector Undertaking (CPSU) company situated in Ranchi, Jharkhand.
  • CCL is one of the eleven fully owned subsidiary companies of Coal India Limited (CIL).

Note:CCL has produced 86.1 million tonnes (MT) of coal in the 2023-24 financial year.


Zimbabwe Launches New Gold-Backed Currency “ZiG”; Replaces Zimbabwe dollarsZimbabwe launches gold-backed currency to replace battered local dollar 1The Reserve Bank of Zimbabwe(RBZ) has launched the new currency “Zimbabwe Gold (ZiG)”  backed by gold and foreign currencies to replace its local currency  Zimbabwe dollars(ZW$)– Real Time Gross Settlement (RTGS) dollar.
Key Points:
i.RBZ has notified that the banks should convert the current Zimbabwe dollar balances into the ZiG with effect from 5th April 2024.
ii.The ZiG notes and coins will start circulating in the economy on 30th April 2024.
iii.The banks will continue to accept ZW$ deposits for a period of 21 days after 5 April 2024.
About Zimbabwe Gold:
i.ZiG is backed by a composite basket of foreign currency and precious metals, mainly gold.
ii.The initial exchange rate of ZiG is set at 13.56 ZiG per US dollar(USD).
iii.The new ZiG notes and coins will be issued in the denomination of 1ZiG, 2ZiG, 5ZiG, 10ZiG, 20Zig, 50ZiG, 100ZiG, and 200ZiG.
Points to note:
i.Zimbabwe adopted the USD in 2009 to counter hyperinflation.
ii.New Zimbabwe dollar (Real Time Gross Settlement (RTGS) dollar) was introduced in Zimbabwe in 2019.
iii.RTGS dollar had lost 3-quarters of its value in 2024. The currency has lost almost 100% of its value against the US greenback in 2023.
About Zimbabwe:
President- Emmerson Mnangagwa
Capital- Harare
Currency- Zimbabwe Gold (ZiG)


SIDBI & Onionlife Partners to Provide Micro-Loans to Gig WorkersSIDBI partners fintech platform KarmaLife for micro loans to gig workersThe Small Industries Development Bank of India (SIDBI) has partnered with the Bengaluru(Karnataka) based fintech startup Onionlife Private Limited to use its technology platform KarmaLife for a pilot to offer micro-loans for gig workers.

  • This will enhance financial inclusion in India’s gig economy.

Note: KarmaLife, powered by Onionlife is India’s Largest Earned Wage Access Platform.
Gig Workers:  Gig workers are people who earn through short-term jobs rather than traditional, permanent employment. They are often freelancers or independent contractors in the service sector.
Key Points:
i.KarmaLife platform will enable gig workers to access micro-loans through a mobile app, eliminating extensive paperwork.
ii.This will support gig workers to manage the liquidity needs of their enterprise activities and assess their credit risk, fostering financial inclusion.
iii.This partnership will help the bank understand and assist the new and emerging enterprise class of gig workers while developing a mechanism to assess their credit risk.
iv.KarmaLife operates on a B2B2C (Business-to-Business-to-Consumer) model and has partnered with major organisations, offering early access to pay-outs for employees.
Note: India’s gig economy is expanding rapidly, and there is an urgent requirement to offer affordable financial support to non-salaried gig workers reliant on gig platform aggregators for their livelihood.
About Small Industries Development Bank of India (SIDBI):
Chairman and Managing Director– Sivasubramanian Ramann
Headquarters– Lucknow, Uttar Pradesh
Establishment– 1990

Tata Mutual Fund Introduces 6 Index Funds, 3 are Industry-FirstTata Mutual Fund launches 6 index funds; 3 are industry firstOn April 8, 2024, Tata Mutual Fund/Tata Asset Management Private Limited launched six index funds offering a new investment opportunity with a minimum investment of Rs 5,000 during the New Fund Offer (NFO) period, which runs from April 8 to April 22, 2024.
Key Points:
i.The new index funds are Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund, Tata Nifty Financial Services Index Fund.
ii.The other three are industry first viz. Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty 500 Multicap India Manufacturing 50:30:20 Index Fund, and Tata Nifty 500 Multicap 50:30:20 Infrastructure Index Fund.
iii.Tata Mutual Fund has co-created the benchmarks with Nifty Indices, an index provider and subsidiary of the National Stock Exchange of India (NSE India).
About Index Funds:
i.Tata Nifty MidSmall Healthcare Index Fund: Tracks mid-cap and small-cap healthcare stocks, comprising up to 30 selections from the Nifty MidSmallcap 400 index, with top constituents like Max Healthcare Institute and Lupin.
ii.Tata Nifty 500 Multicap India Manufacturing 50:30:20 Index Fund: Follows large-cap, mid-cap, and small-cap stocks representing the manufacturing theme from the Nifty 500 index, with fixed weightage distribution.
iii.Tata Nifty 500 Multicap 50:30:20 Infrastructure Index Fund: Tracks large-cap, mid-cap, and small-cap stocks in the infrastructure theme from the Nifty 500, comprising a total of 75 stocks with fixed weightage.
iv.Tata Nifty Auto Index Fund: The is designed to reflect the behaviour and performance of the automobiles sector which includes manufacturers of cars, motorcycles, heavy vehicles, auto ancillaries.
v.Tata Nifty Realty Index Fund: Open-ended scheme replicating the Nifty Realty Index, suitable for long-term capital appreciation.
vi.Tata Nifty Financial Services Fund: an open-ended scheme tracking the Nifty Financial Services Index, benchmarked against the NIFTY Financial Services Index (TRI). It is constructed with a maximum of 20 stocks, imposes strict limits on single stock weight, not exceeding 33% of the total weight, and restricts the cumulative weight of the top 3 stocks to no more than 62%.
About Tata Mutual Fund (Tata Asset Management Private Limited):
Chairman– Rajiv Sabharwal
Headquarters– Mumbai, Maharashtra
Established in – 1994

Canara Bank and SINE of IIT Bombay Partners to Empower Start-ups Across India
Canara Bank and the Society for Innovation and Entrepreneurship (SINE) at the Indian Institute of Technology (IIT) Bombay, Mumbai (Maharashtra) have partnered to empower startups across India.

  • Under the Canara Bank’s Start-Up Scheme, financial assistance at an attractive return on investment (ROI) will be provided for establishment, promotion, and modernization.
  • SINE, established in 2004 as an umbrella organization at IIT Bombay, acts as a tech incubator and offers end-to-end support for startups, ensuring their success.

AMSL Signed Agreements with IFC To Raise Funds worth Rs 330 Crores
Artemis Medicare Services Limited (AMSL) has signed a definitive agreement with the International Finance Corporation (IFC), a member of the World Bank Group, to raise funds of Rs 330 crores in the form of Compulsorily Convertible Debentures (CCDs).

  • The IFC’s investment will assist AMSL in enhancing healthcare accessibility and quality by supporting its growth plans in bed capacity, introducing newer medical treatment specialities, and building cardiac care centres in Tier 2 and 3 cities.
  • This will also encourage women to pursue careers in medicine and advance their professional growth.

Note: AMSL, founded in 2004 by the promoters of the Apollo Tyres Group, operates a multi-specialty hospital, Artemis Hospitals, in Gurugram(Haryana).


Peter Pellegrini Set to Become the New President of Slovak RepublicUkraine-sceptic Pellegrini wins Slovakia presidential electionPeter Pellegrini, former Prime Minister (PM) of Slovakia, is set to become the President of the Slovak Republic. He won the Slovakia presidential election 2024 defeating Ivan Korčok, a former diplomat, with 53% of the vote.

  • Pellegrini will succeed Zuzana Caputov, the first female President of Slovakia.
  • He will be inaugurated as the 6th president of Slovakia on 15th June 2024.

About Peter Pellegrini:
i.Peter Pellegrini is the chair of the Social Democracy party(HLAS). He founded the Voice – Social Democracy in 2020.

  • Prior to this he was a member of  Direction – Social Democracy(Smer).

ii.He served as the PM of Slovakia from 2018 to 2020 and Minister of Health from December 2019 to March 2020.
iii.He has also served as the deputy PM of Slovakia from 2016 to 2018 and as Minister for Education and Science in 2014.
iv.He also served as the speaker of the National Council from 2014 to 2016.
Note: Pellegrini is in a coalition with PM Robert Fico of the Smer and the far-right Slovak National Party (SNS).
About Slovak Republic (Slovakia):
Prime Minister– Robert Fico
Capital– Bratislava
Currency– Euro

Paris Olympics: Bilquis Mir Becomes First Woman To Represent India as Jury Member
Bilquis Mir, a Water sports promoter and athlete (canoeist ) from Jammu and Kashmir(J&K), is set to become the first woman from India to serve as a jury member at the 2024 Summer Olympics which is set to be held in Paris, France from 26th July to 11th August 2024.

  • Bilquis was nominated as a jury member by the Indian Kayaking and Canoeing Association.
  • In 2008, she qualified as a jury member for her exemplary conduct and performance at top sporting events, including the Asian Games 2023 held in Hangzhou, China.


Bandwagon-1: SpaceX Launches First Rideshare MissionIFFCO, ACME signed MoU to boost sustainability in agriculture sector (2)On April 7 2024, Space Exploration Technologies Corporation (SpaceX) has launched the ‘Bandwagon-1’, the first rideshare mission to low-Earth orbit at inclinations of about 45 degrees with a Falcon 9 rocket from National Aeronautics and Space Administration (NASA) Kennedy Space Center, Florida, United States of America(USA).
Key Points

  • Bandwagon-1 carries 11 satellites, including KOREA’s 425Sat, HawkEye 360′s Clusters 8 & 9, Tyvak International’s CENTAURI-6, iQPS’s QPS-Synthetic Aperture Radar (SAR)-7 TSUKUYOMI-II, Capella Space’s Capella-14 and Tata Advanced Systems Limited’s TSAT-1A.
  • A ‘425 Project’ satellite for the military of South Korea was probably the largest of the 11 satellites carried by Bandwagon-1.

Note: The first 425 Project satellite, the one optical/infrared spacecraft was launched with Falcon 9 rocket in December 2023.
About Falcon 9 rocket

  • It is the World’s First Orbital-class reusable rocket, designed and manufactured by SpaceX which helps in safe transport and reduction of costs for space programs.

Note: India has listed the building of reusable rockets as one of its targets of Decade (2021-30).
About Space Exploration Technologies Corporation (SpaceX)
President & Chief Operating Officer (COO) – Gwynne Shotwell
Founder, Chief Executive Officer (CEO) & Chief Technology Officer (CTO) – Elon Musk
Headquarters – Hawthorne, California, USA
Founded in – 2002


Red Bull’s Max Verstappen Wins Japanese Grand Prix 2024 Formula 1 Max Verstappen clinches Japanese Grand Prix as Red Bull finish 1-2Belgian-Dutch driver Max Verstappen of Red Bull won the Formula 1 (F1) Japanese Grand Prix (GP) 2024 held at the Suzuka International Racing Course in Suzuka, Japan from 5th to 7th April 2024.

  • Red Bull’s Sergio Perez (Mexico) and Ferrari’s Carlos Sainz Jr. (Spain) won the second and third positions, respectively.

Winners of Japanese GP 2024:

1Max VerstappenRed Bull
2Sergio PerezRed Bull
3Carlos Sainz Jr.Ferrari

Highlights of Japanese GP:
i.This victory marks Max Verstappen’s third Japanese GP title after winning it in 2022 and 2023.
ii.He was also the second person to win three consecutive Japanese GP titles after Germany’s Michael Schumacher (retired with Ferrari), who won them in 2000, 2001, and 2002.
iii.The Japanese GP 2024 title marks Verstappen’s third title of the 2024 season. He previously won the Saudi Arabian GP 2024 and the Bahrain GP 2024.
iv.It marks Verstappen’s 57th win and 101st podium finish in his driving career.
Key Points:
i.As of 8th April 2024, the 2024 Constructors’ Championship standing is topped by the Red Bull Racing-Honda racing team with 141 points, followed by Ferrari (120 points) in 2nd and McLaren Mercedes (69 points) in 3rd.
ii.The constructors’ standing represents the points earned by finishing in the top position of two drivers of each team at each Grand Prix.
About Japanese GP:
The Japanese GP 2024 officially known as ‘Formula 1 (F1) MSC Cruises Japanese Grand Prix 2024’ was the 38th edition since its first edition was held in 1976.


Former Irish footballer & India Coach Joe Kinnear Passed Away Joe Kinnear, former Tottenham player and Wimbledon manager, dies at 77Former Irish footballer and manager, Joseph Patrick Kinnear (Joe Kinnear) who served as head coach of the Indian National Men’s Football Team in 1983, passed away at the age of 77. He was born on 27th December 1946 in Dublin, Ireland.
About Joe Kinner:
i.Joe Kinner started his professional career with Tottenham Hotspur Football Club (FC) in 1965 and made around 250 appearances for Spurs.

  • As a part of Spurs, he won the 1966–67 Football Association (FA) Challenge Cup,  1971–72 UEFA Cup (now known as the UEFA (Union of European Football Associations) Europa League)  League Cup 1971 and 1973.

ii.He joined Brighton & Hove Albion FC in 1975 after 12 successful years at Tottenham.
iii.He began his coaching career after his retirement in 1977. He has coached the United Arab Emirates(UAE) clubs Sharjah and Al-Shabab.
iv.Apart from India, he also managed the football team of Nepal.
v.He served as Manager of Wimbledon Football Club(FC) (1992-1999); Nottm Forest (2004), and Newcastle United FC (2008 to 2009).
vi.He also served as Director of Football of Newcastle United from 2013-2014.


International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda 2024 – April 7International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda - April 7 2024 The United Nations (UN)’s International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda is annually observed across the globe on 7th April to honour the memory of the victims, who perished during the 1994 genocide.

  • The Day serves as a reminder of the profound loss suffered by the Tutsi community, as well as Hutus and others who opposed the genocide.

7th April 2024 marks the 30th anniversary of the genocide against the Tutsi in 1994 in Rwanda.
i.On 23rd December 2003, the UN General Assembly (UNGA) adopted the resolution A/RES/58/234, designating 7th April of every year as the International Day of Reflection on the Genocide in Rwanda.
ii.The first ever International Day of Reflection on the Genocide in Rwanda was observed on 7th April 2004, which marked the 10th anniversary of the 1994 genocide in Rwanda.
iii.On 26th January 2018, the UNGA adopted a draft resolution A/72/L.31, designating 7th April as the International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda.
>> Read Full News

World Health Day 2024 – April 7World Health Day - April 7 2024 The United Nations (UN) World Health Day is a global health awareness day annually observed across the globe on 7 April to draw attention to a specific health topic of concern to people worldwide.

  • The World Health Day celebration has aimed to create awareness of a specific health theme to highlight a priority area of concern for the World Health Organization (WHO).
  • 7 April 2024 marks the 76th anniversary of the founding of WHO in 1948.

i.The theme for World Health Day 2024 is ‘My health, my right’.
ii.NMC & NTF Launches “My Health, My Rights” Initiative for Medical Students and Professionals.
About World Health Organisation (WHO):
Director General– Dr Tedros Adhanom Ghebreyesus
Headquarters– Geneva, Switzerland
Established in– 7 April 1948
>> Read Full News

Prevention of Blindness Week 2024 – April 1 – 7Prevention of Blindness Week - April 1-7 2024Prevention of Blindness Week is annually observed across India from 1st to 7th April to create awareness about the factors contributing to blindness and to highlight the importance of lifestyle choices and regular eye examinations to mitigate the risk of eye ailments
Prevention of Blindness Week 2024 was observed from 1st to 7th April. 

  • The annual observance of the Prevention of Blindness Week is led by the National Society for the Prevention of Blindness(NSPB)-India

i.The observance aims to educate people on various eye injuries, visual impairments, effective preventive measures, treatment modalities, and potential cures.
ii.The leading causes of vision impairment and blindness include refractive errors; cataracts; diabetic retinopathy; and glaucoma.
>> Read Full News


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Current Affairs 9 April 2024
RECPDCL Handed Over Kallam Transco Limited SPV to Indigrid & Jalpura Khurja Power Transmission Limited SPV to Tata Power
India sets the target to produce 100GW by 2047: AEC Chairman
GoI to develop Plant for recycling LIBs & E-waste in Uttarakhand
Central Coalfields Limited Unveils New Logo
Zimbabwe Launches New Gold-Backed Currency “ZiG”; Replaces Zimbabwe dollars
SIDBI & Onionlife Partners to Provide Micro-Loans to Gig Workers
Tata Mutual Fund Introduces 6 Index Funds, 3 are Industry-First
Canara Bank and SINE of IIT Bombay Partners to Empower Start-ups Across India
AMSL Signed Agreements with IFC To Raise Funds worth Rs 330 Crores
Peter Pellegrini Set to Become the New President of Slovak Republic
Paris Olympics: Bilquis Mir Becomes First Woman To Represent India as Jury Member
Bandwagon-1: SpaceX Launches First Rideshare Mission
Red Bull’s Max Verstappen Wins Japanese Grand Prix 2024 
Former Irish footballer & India Coach Joe Kinnear Passed Away 
International Day of Reflection on the 1994 Genocide against the Tutsi in Rwanda 2024 – April 7
World Health Day 2024 – April 7
Prevention of Blindness Week 2024 – April 1 – 7

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