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CURRENT AFFAIRS : BANKING & FINANCE

India's Interest Rate Swaps Indicate Reserve Bank of India's Probable Decision to Maintain Rates Stable Until 2024

• Indian overnight indexed swap (OIS) rates have increased since the Reserve Bank of India's latest policy meeting, suggesting investors now expect a rate cut only in early 2025 instead of the last quarter of 2024.

Key Highlights :

• OIS Rates:The one-year OIS rate, a commonly used indicator to gauge interest rate expectations, reached 6.82%, the highest level since December 13.
• The five-year OIS rate was at 6.48%, marking its highest level in four months.
• Market Reflection:OIS markets reflect investors' expectations regarding future interest rates.
• Higher OIS rates indicate a projection of elevated interest rates for a longer period.
• Reserve Bank of India's Policy:The Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) held rates steady as expected, for a 7th straight policy, as growth remained robust while inflation remained above its 4% target.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Public Sector Banks Authorized to Transfer Unclaimed Shares to the Investor Education and Protection Fund               

• The finance ministry is contemplating amending the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which governs public sector banks (PSBs).
• Provision for Unclaimed Dividends : It governs public sector banks (PSBs), to make suitable provisions for allowing PSBs to transfer shares to the Investor Education and Protection Fund (IEPF) when dividends of such shares remain unclaimed by the investors for 7 consecutive years.
• Purpose of IEPF: The IEPF was established to promote investor awareness and protect their interests.
• Unclaimed dividends and shares transferred to IEPF can be reclaimed by investors by submitting necessary documents and undergoing a verification process.

Key Highlights :

• Transfer Statistics: According to the latest annual report of IEPF, companies transferred Rs 446 crore to IEPF in 2021-22.
• The cumulative balance with IEPF by the end of 2021-22 was Rs 5,262 crore.
• Coverage of Private Companies: Private companies, including private banks, already transferred unclaimed dividends and shares to IEPF, in compliance with the Companies Act.
• Alignment with Companies Act: Experts believe that the primary objective of the proposed amendment is to align the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, with the requirements prescribed under the Companies Act, 2013.
• Legal Consistency: The incorporation of 7 years for the transfer of unclaimed dividends and shares aligns with established legal principles, including those outlined in Section 108 of the Indian Evidence Act, 1872.

About Ministry of Finance :

• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Bhagwat Karad, Pankaj Choudhary

ICICI Lombard and Policybazaar Join Forces to Provide Accessible Insurance Solutions for Indian Consumers  

• ICICI Lombard announced that it has entered into a partnership with Policybazaar to bring together the comprehensive product portfolio of ICICI Lombard and the reach of Policybazaar, promising accessible insurance solutions for Indian consumers.
• The collaboration encompasses access to nearly 10 million customers with a wide range of insurance products, including motor insurance, health insurance, travel insurance, home insurance, and business insurance.
• The partnership entails inclusion across multiple business lines of the Policybazaar platform, policybazaar.com catering to retail audiences, PB for Business for corporates and PB Partners for channel partners.
• The partnership will significantly enhance insurance distribution ensuring comprehensive coverage reaches every corner of the nation through the convenience of a seamless digital platform.

About ICICI Lombard General Insurance :

• Headquarters : Mumbai, Maharashtra, India
• Chairman & Managing Director : Sanjeev Mantri
• ICICI Lombard General Insurance Company Limited is a general insurance company in India. It is engaged in general insurance, reinsurance, insurance claims management and investment management.

About Policybazaar :

• Founded : July 2008
• Headquarters : Gurgaon, Haryana, India
• Policybazaar is an Indian insurance aggregator and multinational financial technology company.

Reserve Bank of India Levies Fine on The Uttarakhand Grameen Bank, Dehradun 

• The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹5.00 lakh on The Uttarakhand Grameen Bank, Dehradun for contravention of the provisions of section 26 A (2) read with section 51 of the Banking Regulation Act, 1949 (BR Act).
• The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as of March 31, 2023.
• Based on supervisory findings of non-compliance with statutory provisions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the instructions.
• This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Recent News :

• In April 2024, The RBI imposed a monetary penalty of ₹1.00 crore on IDFC First Bank Limited for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’.

CURRENT AFFAIRS: NATIONAL NEWS

NTPC aims to add 5 GW capacity in FY25

• State-run NTPC has set a target to add 5 gigawatts (GW) of installed capacity reflecting its commitment to providing clean, reliable, and affordable energy solutions.
• NTPC aims to add 3 GW of renewable energy (RE) capacity, exemplifying its steadfast dedication to environmental stewardship.
• Simultaneously, the power generator aims to add 2 GW to its thermal energy capacity, strengthening India’s energy infrastructure.

Key Highlights

• In FY24, NTPC successfully added 3,924 megawatts (MW) of new capacity to its portfolio, bringing its cumulative installed capacity to nearly 76 GW.
• Presently, the group has an operational RE capacity of 3.5 GW, with an extensive pipeline exceeding 20 GW.
• It has also set a target of producing 40 million tonnes (MT) of coal from its captive mines in the current financial year, ending March 2025.
• The targeted quantity will account for 15 per cent of NTPC’s annual requirement.

Recent News

• State-owned NTPC Ltd has set a target of 40 million tonnes coal production from its captive mines for the ongoing financial year, up 17% from FY24.
• NTPC Limited announced that the company has signed Supplementary Joint Venture Agreement (SJVA), Amendment-II, with U.P. Rajya Vidyut Utpadan Nigam Limited (UPRVUNL)

Indian Railways on course to 100 per cent electrification, becoming the world's largest green network

• Indian Railways is all set to achieve a significant milestone with 100 percent electrification of its broad gauge network before the end of this fiscal year(2023).
• Notably in the 2024-25 interim budget, Rs 6500 crore were allocated for further electrification projects.
• Since 2014, over Rs 46,425 crore has been allocated for electrification endeavours, significantly accelerating the transition from diesel to electric locomotives.
• It is noteworthy that 61,813 route km on the broad gauge network has been electrified, which is about 94% of the total Broad Gauge (BG) network of the Indian Railway.
• As of December 2023, Railways have 10,238 electric and 4,543 diesel locomotives.
• The Railways electrified 7,188 kilometres of rail network in 2023-24.
• India is far ahead of the European Union, the UK, and the US on rail electrification.
• As per Energy Monitor and Indian railways data, Indian Railways are 95 per cent electrified, as compared to 56 per cent in the EU, 38 per cent in the UK and just one per cent in the US.
• Switzerland stands at an impressive 99% electrification, showcasing the efficacy and feasibility of such initiatives.

Recent news

• During the financial year 2023-24, the Indian Railways achieved a record-high freight loading of 1591 million tonnes (MT), up from 1512 MT in the previous fiscal year.
• The Eastern Railway achieved its highest-ever freight revenue of Rs 7,774.62 crore in the financial year 2023-24, marking a significant increase of 19.47% compared to the previous fiscal year.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Surinder Chawla Steps Down as Paytm Payments Bank Managing Director & Chief Executive Officer Citing Personal Reasons

• Surinder Chawla, Managing Director (MD) and Chief Executive Officer (CEO) of Paytm Payments Bank (PPBL) has resigned as the head of the company on account of “personal reasons and to explore better career prospects”.
• Chawla will be relieved from the payments bank from the close of business hours on June 26, 2024.
• Before joining Paytm Payments Bank, Chawla worked at RBL Bank, where he served as Head of Branch Banking.
• In February 2024, Paytm founder Vijay Shekhar Sharma stepped down from the board of Paytm Payments Bank.

Key Highlights :

• Regulatory Issues and Operational Changes:Paytm Payments Bank faced heavy attrition following regulatory crackdowns by the Reserve Bank of India (RBI) due to several violations, particularly related to inadequate Know Your Customer (KYC) practices.
• Consequently, the bank was compelled to wind down its operations effective March 15.
• Business Migration and Independence:One 97, the parent company of Paytm, shifted its operations away from the payments bank and reduced inter-linkages and dependence on its services.
• License Acquisition and Board Reconstitution:One 97 managed to secure the Third Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI) for third-party Unified Payments Interface (UPI) services.
• The board of Paytm Payments Bank was reconstituted, with notable appointments including ex-Central Bank of India Chairman Srinivasan Sridhar, retired IAS officer Debendranath Sarangi, former Executive Director of Bank of Baroda Ashok Kumar Garg, and retired IAS Rajni Sekhri Sibal as independent directors.

About Paytm Payments Bank :

• Founded : 28 November 2017
• Headquarters : Noida, Uttar Pradesh

Former Revenue Secretary Tarun Bajaj Named Chair of U

S-India Tax Forum by US-India Strategic Partnership Forum (USISPF)  

• The US-India Tax Forum, an initiative of the US-India Strategic Partnership Forum (USISPF) has appointed former Revenue Secretary and ex-Secretary of Economic Affairs Tarun Bajaj as the head of the US-India Tax Forum.
• Bajaj, aged 61, joined USISPF as an Advisor to the Board of Directors in January 2024 before assuming his new role.

About Tarun Bajaj :

• Bajaj is a member of the Indian Administrative Service (IAS), 1988 batch, Haryana Cadre.
• He served as Revenue Secretary until his retirement in November 2022.
• He played a crucial role in managing both direct and indirect tax revenues for the Government of India, particularly in stabilizing the Goods and Services Tax (GST).
• His financial acumen was instrumental in formulating Central Government budgets for the fiscal years 2021-22 and 2022-23.
• USISPF President and CEO : Dr. Mukesh Aghi

About Tax Forum :

• Launch Date and Purpose : The US-India Tax Forum was launched on February 25, 2020.
• Its primary purpose is to provide member companies with a platform to engage with relevant government officials on tax issues within the US-India corridor.
• The forum aims to facilitate discussions on the future of taxation and foster collaboration between businesses and governments to enhance the ease of doing business.
• Membership and Participation:The US-India Tax Forum boasts around 350 member companies.
• It serves as a leading tax platform that brings together Government of India policymakers, global tax experts, and the business community.
• Member companies actively participate in discussions and advocacy efforts aimed at improving tax policies.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Parent Company of IndusInd Bank to Purchase 60% Stake in Invesco India Asset Management                         

• IndusInd International Holdings Limited. (IIHL), a Mauritius-based investment holding company of the Hinduja Group has entered into a definitive agreement to acquire a 60% stake in Invesco Asset Management India Ltd. (IAMI) for an undisclosed amount.
• Invesco, the existing promoter, will hold the remaining 40% stake in the joint venture company and both IIHL and Invesco will have sponsor status of the mutual fund house.
• With an AUM of ₹85,393 crore, IAMI is the 17th largest domestic asset manager in India and has a presence in 40 cities across the country.
• Saurabh Nanavati, CEO, Invesco Asset Management India, will continue to lead the new JV along with the existing management team.
• IAMI began operations in India in 2008 with the acquisition of Lotus India AMC and has over 39,000 empanelled distributors, with over 70% of its AUM in equity and equity-oriented assets.
• It also operates an enterprise centre in Hyderabad employing over 1,700 staff.

About IIHL :

• Chairman : Ashok Hinduja
• CEO : Moses Harding

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Chief Admiral R. Hari Kumar Unveils New Amenities at Karwar Naval Base

• Indian Navy Chief Admiral R. Hari Kumar inaugurated a 350m long major pier for Offshore Patrol Vessels (OPVs) and a residential accommodation at Naval Base Karwar.
• These infrastructure developments are part of the ongoing Phase IIA of Project Seabird, which will accommodate 32 ships and submarines, 23 yardcraft, a dual-use Naval Air Station, a full-fledged naval dockyard, 4 covered dry berths and logistics for ships and aircraft.

Pier Features :

• The Pier 3 OPV Pier is 350m long and capable of berthing OPVs, survey vessels, and mine countermeasure vessels. It offers various shore-based services like power, water, air conditioning, and a 30-tonne crane.
• Residential Accommodation: The residential accommodation consists of two towers of 80 flats for married officers and 149 flats of single officers accommodation along with related amenities and external services.
• Further, 6 towers of Type-II accommodation consisting of 360 flats for Defence civilians were also inaugurated.
• Personnel Housing: Upon completion, the base will accommodate approximately 10,000 uniformed and civilian personnel with families, which will significantly boost the local economy and industrial growth.
• Job Creation: The ongoing construction of Phase IIA has created 7,000 direct and 20,000 indirect jobs, aligning with the Aatmanirbhar Bharat initiative by sourcing over 90% of materials domestically.
• Community Outreach : Admiral Kumar also flagged off an Ex-Servicemen Contributory Health Scheme (ECHS) outreach programme named ‘SAMPARK 3.0’ under which a team of officers and sailors of Naval Headquarters and SNC will tour different polyclinics in Kerala over 8 days and interact with veterans and veer naris at remote locations.
• He also inaugurated a new married accommodation for DSC personnel which consists of 74 dwelling units and modern amenities.

About Indian Navy :

• Headquarters : New Delhi, Delhi
• Chief of Defence Staff : General Anil Chauhan
• Chief of the Naval Staff : Admiral R. Hari Kumar

Indian Army Acquires First Consignment of 24 Igla-S MANPADS and 100 Missiles from Russia 

• The Indian Army has received the first batch of 24 Russia-made Igla-S Man Portable Air Defence Systems (MANPADS) and 100 missiles as part of a larger deal that includes domestic production in India.
• This procurement aims to enhance the Army’s Very Short Range Air Defence (VSHORAD) capabilities, particularly in high mountainous terrain along the northern border.
• Background : In November,2023 India signed a contract with Russia for 120 launchers and 400 missiles.
• While the first batch from Russia has been received by the Army, the rest of these systems will be made in the country through Transfer of Technology (ToT) from Russia by an Indian company.

About Igla-S system :

• The Igla-S system consists of a single launcher and a missile.
• In an earlier batch, a very small number (24 launchers and 216 missiles) of Igla-S were procured in 2021.
• The Igla-S systems are procured for the new authorised air defence formations for high mountainous terrain along the northern border.
• The Indian Army will replace the older Igla systems with advanced laser-beam riding and infrared VSHORADS.

Igla-S: Capabilities

• The Igla-S is a hand-held defence system that can be operated by an individual or crew.
• It is designed to bring down low-flying aircraft and can also identify and neutralize air targets such as cruise missiles and drones.
• The system comprises the 9M342 missile, the 9P522 launching mechanism, the 9V866-2 mobile test station, and the 9F719-2 test set.
• The Request for Proposal (RFP) for VSHORADs was issued in 2010 when the United Progressive Alliance (UPA) was in power at the Centre, after which the selection process started.

Recent News :

• Defence Research and Development Organisation (DRDO) conducted two successful flight tests of Very Short-Range Air Defence System (VSHORADS) missile on 28th & 29th Feb 2024 from a ground-based portable launcher off the coast of Odisha from Integrated Test Range, Chandipur.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Cochin Shipyard signs ship repair agreement with U.S. Navy

• Cochin Shipyard Limited (CSL) became the third Indian shipyard to enter into a Master Shipyard Repair Agreement (MRSA) with the U.S., which will enable to repair of US Navy ships.
• Effective, MSRA is a non-financial agreement.
• With this agreement, India and the United States want to expand cooperation in ship repair and maintenance to transform India into a regional hub.
• After Larsen & Toubro (L&T) and Mazagon Dock Shipbuilders Limited (MDL), the state-run shipbuilding facility in Kochi is the latest.
• The L&T Shipyard at Kattupalli near Chennai was the first Indian shipyard to sign the agreement in July 2023, which has so far repaired three US Navy fleet support ships.
• A naval ship from the United Kingdom had reached Kattupalli for the first time for repairs.
• Both India and the US are keen to increase cooperation in ship maintenance and repair as it benefits both countries, providing business and expertise to Indian shipyards while providing alternative options to the US.

Air India and BIAL sign agreement to develop Bengaluru airport as a hub

• Tata-owned Air India and Bangalore International Airport Ltd (BIAL) have entered into an agreement intended to develop Bengaluru as a premier aviation hub for southern India.
• The idea would be to boost air travel connectivity to and from India over the next few years.
• Other Tata Group airlines – AIX and Vistara – and BIAL will collaborate to enhance international connectivity, operational efficiency, and passenger experience over the next five years.
• As part of this initiative, Air India has also signed a Memorandum of Understanding (MoU) with the Karnataka government to establish Maintenance, Repair and Overhaul (MRO) facilities at the airport.

Recent news

• Air India appoints Jayaraj Shanmugam as head of global airport operations
• Air India hired over 5,700 people in FY24, including over 3,800 flying crew
• Tata group's Vistara could cut flights amid pilot shortage

CURRENT AFFAIRS: RANKING AND INDEX

India's unicorn count drops, a gap with China widens

• According to the 6th annual Hurun Global Unicorn Index 2024, India’s start-up ecosystem has slowed with the number of unicorns declining for the first time since 2017.
• According to the report, Indian founders co-founded 109 unicorns outside of India in comparison to just 67 in India.
• Unicorns founded outside of India, significantly all were in the USA (95), led by the Bay Area, with 4 in the UK, 3 in Singapore and 2 in Germany.
• The US continued to lead the unicorn tally with 703 unicorns fo llowed by China with 340 unicorns and India with 67 unicorns and UK 4th with 53 unicorns.
• India was third with 67 unicorns, led by on-demand delivery start-up Swiggy and fantasy sports platform Dream11 worth US$8bn each, and Razorpay worth US$7.5bn.

KeY Highlights

• The drop-outs from the unicorn chart in 2023 were Byju’s and PharmEasy, according to a report by The Hurun Research Institute.
• There are a total of 1,453 unicorns in the world new world record, up 7% or 92 unicorns, with the world minting one unicorn every two days over the last year. Total 171 new unicorns in world in past year.
• TikTok owner ByteDance retained the title of being the world’s most valuable unicorn worth $220 billion, despite threat of a US ban, while the total value of the world’s unicorns reached $5 trillion, which is equivalent to the GDP of Japan.
• The data is for January 2023-January 2024, compared with January 2022-January 2023.
• OpenAI posted the fastest valuation rise with an addition of $80 billion in value, followed by SpaceX, which added $43 billion.
• Tiger Global took the title of the ‘World’s Most Successful Unicorn Investor’ for the first time, investing into 205 unicorns.
• SoftBank, under Masayoshi Son, was second with 169 unicorns, followed by HongShan, which made history as it overtook Sequoia, historically a titan in the field.
• San francisco retained world’s unicorn capital with 190 unicorns, followed by new york with 133 and beijing with 78.
• Bengaluru (32) ranked at 7th, Mumbai(14) was at 19th in cities with most number of unicorns.
• India witnessed the rise of Krutim, its first AI unicorn, yet remains significantly behind the US and China in AI innovation. The United States and China dominate with 60 and 37 AI unicorns, respectively.
• 2024 has been marked as "the year of AI," with OpenAI's valuation reaching $100 billion.
• Fintech, ai, blockchain and new energy fastest-growing sectors this year. Overall, fintech led the pack with 185 unicorns, followed by saas with 139 and ai with 115.
• Russia first unicorn this year, taxi calling app yandex.
• The Global Unicorn Index is compiled by the Hurun Research Institute, and includes companies founded in the 2000s with a current valuation of US$1bn, not yet listed on a public exchange.
• Many of the world’s top investment houses provided details of their portfolio, which the Hurun Research team cross-checked against specialized investment databases, industry experts, media sources, as well as unicorn co-founders.
• Hurun Research used the most recent valuation based on a sizeable round.

CURRENT AFFAIRS: SPORTS NEWS

India’s D Gukesh Beats  Nijat Abasov In 5th Round Of FIDE Candidates At Toronto

• In Chess, India’s D Gukesh managed to secure victory over Nijat Abasov in the fifth round of FIDE Candidates in Toronto, Canada.
• Gukesh, the second youngest player ever to compete at the prestigious Candidates tournament, is now the joint leader in the Open category with Ian Nepomniachtchi at 3.5 points.
• Meanwhile, Gukesh’s compatriots Praggnanandhaa and Vidit Gujrathi were both held to draws by heavily favoured opponents.
• Both players were in the driver’s seat at various points of their games, but could not press on to seize the victory.
• While Pragg was held to a draw by two-time Candidates winner Ian Nepomniachtchi, Vidit was held by World No. 2 Fabiano Caruana.

About Canada

• Capital: Ottawa
• Currency: Canadian Dollar
• Prime Minister: Justin Trudeau

Badminton Asia Championship 2024 to Begin In Ningbo, China

• The 2024 edition of the Badminton Asia Championship will begin in Ningbo, China.
• Star shuttlers, including H S Prannoy, Kidambi Srikanth, Lakshya Sen, PV Sindhu and others will represent the Indian contingent.
• In Men’s singles, H S Prannoy will take on Lu Guangzhou of China whereas Kidambi Srikanth will lock horns with Anthony Ginting of Indonesia in the opening round.

Key Highlights

• Meanwhile, Lakshya Sen will face the top-seeded Shi Yu Qi in the first round. Another Indian shuttler Priyanshu Rajawat will also mark the Indian presence in the tournament.
• He will meet Malaysia’s Lee Zii in the first round.
• In women’s singles, P V Sindhu will take on the Malaysian Goh Jin Wei in the first round.
• Sindhu will be accompanied by Aakarshi Kashyap, who will be facing Thailand’s Busanan Ongbamrungphan, in the main draw.
• Meanwhile, Ashmita Chaliha and Malvika Bansod will start from the qualifiers.
• In Men’s doubles, the pair of MR Arjun and Dhruv Kapila will face the seventh-seeded Chinese Liu Yu Chen and Ou Xuan Yi.
• Krishna Prasad Garaga and Sai Pratheek K are also in the fray. In women’s doubles, the duo of Tanisha Crasto and Ashwini Ponnappa will face the Indonesian pair of Febriana Dwipuji Kusuma and Amalia Cahaya Pratiwi, while Treesa Jolly and Gayatri Gopichand will take on the fourth-seeded Liu Sheng Shu and Tan Ning of China.
• The competition will provide an opportunity for players to boost their rankings ahead of the 2024 Paris Olympics which will take place in July this year.

About China:

• Capital: Beijing
• President: Xi Jinping
• Currency: Chinese Yuan

CURRENT AFFAIRS : OBITUARIES

Renowned Physicist Peter Higgs, Pioneer of the 'God Particle' Discovery, Passed away

• Peter Higgs, the British physicist who won a Nobel Prize in 2013 for his discovery decades earlier of a theoretical mechanism to explain the origin of mass in the universe, has passed away at the age of 94.

About Peter Higgs :

• Peter Ware Higgs was born in Newcastle-upon-Tyne in northeast England on May 29, 1929.
• He was a British theoretical physicist, professor at the University of Edinburgh.

Awards & Honors :

• His 1964 theory of a mass-giving particle, which became known as the Higgs boson or the "God particle", won him and Belgian physicist Francois Englert the 2013 physics Nobel Prize.
• Higgs, Brout and Englert in 2004 won the Wolf Prize, administered by the Wolf Foundation in Israel, and the American Physical Society’s JJ Sakurai Prize for Theoretical Particle Physics in 2010, along with the 5 other scientists who contributed to work on the Higgs mechanism.
• Higgs was appointed to the Order of the Companions of Honour in the 2013 New Year Honours and in 2015 the Royal Society awarded him the Copley Medal, the world's oldest scientific prize.

CURRENT AFFAIRS: IMPORTANT DAYS

World Homeopathy Day 2024: April 10, 2024

• World Homeopathy Day 2024 is celebrated on the 10th of April every year.
• The day is celebrated to spread knowledge of homeopathy medicine in public health.
• The World Homeopathy Day tribute to the father and founder of the Homeopathy system in medicine Christian Samuel Hahnemann.
• The day is observed on the occasion of the birth anniversary of German physician Dr Christian Friedrich Samuel Hahnemann, the founder of homoeopathy.
• Born in Paris on April 10, 1755, Hahnemann was an acclaimed scientist, great scholar, and linguist.
• He discovered a way to heal through the use of homeopathy.
• He died on July 2, 1843.

National Pet Day 2024: April 11

• Every year April 11th is celebrated as National Pet Day.
• It is a day to celebrate the joy that pets bring into our lives and to raise awareness about the importance of animal welfare.
• It is true that pets give us unconditional love and care.
• They become family members, National Pet Day is a unique opportunity to dedicate a day to your pet.
• The day was first launched in 2006 by Colleen Paige, an animal welfare campaigner.
• Paige has also created other pet-related holidays such as National Dog Day and National Cat Day.
• The purpose of this day is to bring attention to the plight of animals who are stuck in shelters across the globe.

National Safe Motherhood Day 2024: April 11

• Every year on April 11 India celebrates National Safe Motherhood Da
• National Safe Motherhood Day (NSMD) is observed on the birth anniversary of Kasturba Gandhi.
• The National Safe Motherhood Day was first proposed by (WRAI) White Ribbon Alliance.
• In 2003, the Government of India declared 11 April as National Safe Motherhood Day, upon the request of WRAI.
• This date was chosen as it marks the birth anniversary of Kasturba Gandhi, the wife of Mohandas Karamchand Gandhi, who is widely regarded as the father of the nation.
• So proper education and awareness are resulting in a decrease in maternal death leading to a health care system.

Daily CA One- Liner: April 11

• State-run NTPC has set a target to add 5 gigawatts (GW) of installed capacity reflecting its commitment to providing clean, reliable, and affordable energy solutions
• Indian Railways is all set to achieve a significant milestone with 100 percent electrification of its broad gauge network before the end of this fiscal year
• Cochin Shipyard Limited (CSL) became the third Indian shipyard to enter into a Master Shipyard Repair Agreement (MRSA) with the U., which will enable to repair US Navy ships
• Tata-owned Air India and Bangalore International Airport Ltd (BIAL) have entered into an agreement intended to develop Bengaluru as a premier aviation hub for southern India
• According to the 6th annual Hurun Global Unicorn Index 2024, India’s start-up ecosystem has slowed with the number of unicorns declining for the first time since 2017
• In Chess, India’s D Gukesh managed to secure victory over Nijat Abasov in the fifth round of FIDE Candidates at Toronto, Canada
• The 2024 edition of the Badminton Asia Championship will begin in Ningbo, China
• Indian overnight indexed swap (OIS) rates have moved higher since the Reserve Bank of India's latest policy meeting, suggesting investors now expect a rate cut only in early 2025 as opposed to the last quarter of 2024 earlier.
• The finance ministry is contemplating amending the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which governs public sector banks (PSBs).
• ICICI Lombard announced that it has entered into a partnership with Policybazaar to bring together the comprehensive product portfolio of ICICI Lombard and reach of Policybazaar, promising accessible insurance solutions for Indian consumers.
• The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹5.00 lakh on The Uttarakhand Grameen Bank, Dehradun for contravention of the provisions of section 26 A (2) read with section 51 of the Banking Regulation Act, 1949 (BR Act).
• Surinder Chawla, Managing Director (MD) and Chief Executive Officer (CEO) of Paytm Payments Bank (PPBL) has resigned as the head of the company on account of “personal reasons and to explore better career prospects”.
• The US-India Tax Forum, an initiative of the US-India Strategic Partnership Forum (USISPF) has appointed former Revenue Secretary and ex-Secretary of Economic Affairs Tarun Bajaj as the head of the US-India Tax Forum.
• IndusInd International Holdings Limited. (IIHL), a Mauritius-based investment holding company of the Hinduja Group, has entered into a definitive agreement to acquire a 60% stake in Invesco Asset Management India Ltd. (IAMI) for an undisclosed amount.
• Indian Navy Chief Admiral R. Hari Kumar inaugurated a 350m long major pier for Offshore Patrol Vessels (OPVs) and a residential accommodation at Naval Base Karwar.
• The Indian Army has received the first batch of 24 Russia-made Igla-S Man Portable Air Defence Systems (MANPADS) and 100 missiles as part of a larger deal that includes domestic production in India.
• Peter Higgs, the British physicist who won a Nobel Prize in 2013 for his discovery decades earlier of a theoretical mechanism to explain the origin of mass in the universe, has passed away at the age of 94.
• World Homeopathy Day 2024 is celebrated on the 10th of April every year.
• Every year April 11th is celebrated as National Pet Day.
• Every year April 11th is celebrated as National Pet Day.