Current Affairs by Kush Pandey: April 13 2024

Revision Questions  The figure falls within the 2-6% tolerance band set
1. According to the PFRDA data, released in April 2024, by the Reserve Bank of India (RBI).
the National Pension System (NPS) Assets Under  Reuters survey had anticipated a decrease to
Management (AUM) experienced _________ Y-o-Y growth 4.91%.
during the Fiscal Year 2023-24 (FY24).
 Report by: National Statistical Office (NSO)
A. 10.5%
B. 24.5%  The inflation in the food basket was at 8.52% in
C. 32.5% March, down from 8.66% in February
D. 22.5%  The official data is yet to be released by the
E. 30.5% government.
Ans: E  The data has been delayed as it awaits the
2. In April 2024, ___________ General Insurance Company approval of the election commission citing local
has forged a partnership with Policybazaar to leverage financial news service Informist.
policybazaar's digital platform to offer a wide range of  All India Index of Industrial Production has been
insurance products to approximately 10 million released every month with a time lag of 42 days on
customers.
the 12th of every month (or the previous working
A. ICICI Lombard
day, if the 12th is a holiday).
B. HDFC ERGO
C. ACKO  February 2024:
D. IFFCO Tokio  Industrial production: 5.7% (Growth)
E. New India Assurance  The previous high of IIP was recorded at 11.9% in
Ans: A October 2023, which slowed to 2.5% in
3. In April 2024, the National Investment and November, 4.2% in December and 4.1% in January
Infrastructure Fund Ltd. (NIIF) has invested __________ in 2024.
iBUS Network and Infrastructure Pvt Ltd., a connectivity  Power generation: 7.5% (Rise)
technology firm, to support the growth of India’s digital  Mining production: 8% (Rise)
infrastructure.
 Manufacturing sector: 5% (Rise)
A. $50 million
B. $100 million  Consumer non-durable goods declined by 3.8%
C. $150 million  Infrastructure/construction goods reported a
D. $200 million growth of 8.5%
E. $250 million
2. BharatPe co-founder Ashneer Grover ventures into
Ans: D
fintech with ZeroPe app
4. In April 2024, the Asian Development Bank (ADB) on
raised India's GDP growth forecast for the current fiscal  BharatPe co-founder and former managing
to ________ from 6.7 percent earlier. director Ashneer Grover is gearing up for a new
A. 6.8 percent venture in the fintech space with ZeroPe, an app
B. 6.9 percent designed for medical loans.
C. 7.0 percent  ZeroPe, currently in its testing phase, has been
D. 7.1 percent developed by Third Unicorn.
E. 7.2 percent  The ZeroPe app is set to provide instant pre-
Ans: C approved medical loans of up to Rs 500,000.
5. According to the report released by InfluenceMap, just  Collaboration with Delhi-based Non-Banking
_______ companies are responsible for 80% of the world's
Financial Company (NBFC) Mukut Finvest.
carbon emissions from fossil fuels and cement over the
past seven years.  The service is exclusively available at partnered
A. 30 hospitals, as mentioned on the ZeroPe app
B. 57 website.
C. 60 3. Moody's Analytics forecasts India's economy to
D. 55 grow by 6.1% in 2024
E. 47
 Report title: APAC Outlook: Listening Through the
Ans: B
Noise
Banking & Finance  Report By: Moody's
1. India's retail inflation eases to a 10-month low of  Projection for 2024: 6.1%, a decrease from the
4.85% in March 2024 7.7% growth recorded in 2023.
 India's retail inflation eased to 4.85% on an annual  India's output remains 4% lower than it would
basis in March 2024 as against 5.09% in the have been without the Covid-19 pandemic and its
previous month.
 Current Affairs by Kush Pandey: April 13 2024
various aftermaths, including supply disruptions  This is the seventh consecutive week of a jump in
and military conflicts abroad. overall reserves.
 The report forecasts 3.8% growth for the APAC  In the previous reporting week, the forex kitty had
(Asia-Pacific) economy in 2024, in contrast to the increased by $2.951 billion to $645.583 billion,
global economy's 2.5% growth. which was an all-time high.
 The RBI maintained its retail inflation projection  Gold reserves increased by $2.398 billion to
for the current fiscal year 2024-25 at 4.5%. $54.558 billion during the week.
 The central bank forecasted inflation rates of 4.9  The Special Drawing Rights (SDRs) were up by
per cent for the June quarter, 3.8 per cent for the $24 million to $18.17 billion.
September quarter, and 4.6 per cent and 4.7 per  Forex reserves also include India's reserve
cent for the December and March quarters, tranche position in the International Monetary
respectively. Fund (IMF).
 India's reserve position with the IMF was also up
4. Health insurers leave general insurance industry
far behind in growth in FY24 by $9 million to $4.669 billion in the reporting
 Data by: General Insurance Council week.
 India's standalone health insurers grew two times 8. Revolut gets RBI nod to issue Prepaid Payment
faster than the general insurance industry in Instruments in India
FY24.  Revolut India has received in-principle
 The general insurance industry recorded an authorization from the Reserve Bank of India
annual premium of close to Rs 2.9 lakh crore for (RBI) to issue Prepaid Payment Instruments (PPI)
FY24, marking a 13% rise from the previous fiscal including prepaid cards and prepaid wallets in the
year's Rs 2.6 lakh crore. country.
 Similarly, the five standalone health insurance  This enables it to operate as a domestic player in
companies saw a significant 26.2% increase in the market.
total premium, climbing from Rs 26,243 crore to  This approval builds upon the existing licenses
Rs 33,115 crore during the same period. which Revolut India has successfully obtained
from RBI to operate as a Category-II Authorised
5. PhonePe Partners with eSewa, HAN Pokhara to
Money Exchange Dealer (AD II) and to be able to
Promote UPI in Nepal
 PhonePe is set to promote UPI during the Fewa provide multi-currency forex cards and cross-
New Year Festival in Nepal. border remittance services
 In collaboration with eSewa and the Hotel  Revolut is a London-based neobank and financial
Association of Nepal (HAN) Pokhara technology company.
 The festival is a celebrated event attracting both International
locals and Indian tourists, offering cultural 1. World-first “Cybercrime Index” ranks countries by
experiences and culinary delights. cybercrime threat level
 An international team of researchers have
6. Japan-based MUFG to acquire 20% stake in HDFC compiled the first ever ‘World Cybercrime Index’.
Bank's non-banking arm
 It identifies the globe’s key cybercrime hotspots
 The Bank of Tokyo-Mitsubishi UFJ (MUFG) will
by ranking the most significant sources of
acquire a 20% stake in HDB Financial Services, a
cybercrime at a national level.
non-banking subsidiary of HDFC Bank, at a
 Russia tops the list, followed by Ukraine, China,
valuation of $9-10 billion.
the USA, Nigeria, and Romania.
 HDFC Bank is the country's largest private lender.
 The UK comes in at number eight.
 It currently owns around 95% of HDB Financial
 Index developed as a joint partnership between
Services, with the remaining 5% held by
the University of Oxford and UNSW.
employees under an Employee Stock Ownership
Plan (ESOP).  It has also been funded by CRIMGOV, a European
Union-supported project based at the University
7. India's forex reserves rise for seventh straight week of Oxford and Sciences Po.
 Data released by the Reserve Bank of India (RBI)
 India's foreign exchange reserves (forex) National
1. Indian real estate to be worth $1.5 trn by 2034 as
increased $2.98 billion to $648.562 billion for the
demand soars
week ended April 5, 2024.
 Report title: India Real Estate: A Decade From
Now
 Current Affairs by Kush Pandey: April 13 2024
 Report by: Confederation of Indian Industry (CII) cooler designed for vaccine delivery in remote
and real estate consultancy Knight Frank areas with limited electricity access.
 India's real estate sector will be worth $1.5 trillion  This cold chain solution aims to tackle the last-
by 2034 as it grows threefold from $482 billion mile delivery challenge by maintaining the
now as residential and commercial demand required temperature of vaccines (2-4 degrees
grows. Celsius) using integrated solar panels.
 The sector’s share in the country’s economic  Enhanced Innovations designed Pholoton with
output is likely to rise to 10.5% in next 10 years integrated solar panels.
from 7.3%.  This ensures uninterrupted operation even in
 In 2015, the sector's share in economic output was areas with frequent power cuts or lacking
$279 billion. consistent electricity.
 The residential market is expected to be worth
Defence
$906 billion by 2034 and the office sector $125
1. Israel Deploys C-Dome Defense System Against
billion. Aerial Threat Near Eilat
2. India among 12 nations responsible for 60% of  Israel deployed its ship-mounted defense system,
world’s mismanaged plastic waste the C-Dome, for the first time against a suspicious
 Report title: Plastic Overshoot Day report by Swiss aerial target near the southern city of Eilat.
non-profit EA Earth Action  The incident occurred following an alert in the
 India is among the twelve countries responsible area, which had previously been targeted by
for 60% of the planet’s mismanaged plastic waste. missile fire from Yemen’s Houthi rebels.
 12 countries are China, India, Russia, Brazil,  C-Dome:
Mexico, Vietnam, Iran, Indonesia, Egypt, Pakistan,  Mounted on Sa’ar 6-class corvettes.
the United States and Turkey.  It is the naval counterpart of the land-based Iron
 The fast-developing South Asian nation’s per Dome.
capita plastic waste production is among the  Developed by Rafael Advanced Defence Systems
lowest in the world.  It provides a robust defense against rocket and
 Oman tops the list of countries in terms of missile threats.
mismanaged plastic waste, with a projected 111
2. Indian Army Conducts Anti-Tank Guided Missile
kg of mismanaged plastic per person in 2024.
Training Exercise in Sikkim
 This is 30 times higher than Norway.  The Trishakti Corps of the Indian Army executed a
 India is in the bottom 12 countries. rigorous Anti-Tank Guided Missile (ATGM)
 Global plastic waste generation has risen by 7.11 exercise in Sikkim.
per cent since 2021.  It is operating at an altitude of 17,000 feet.
 The world is estimated to have generated 220  The exercise involved missile-firing detachments
million tons of plastic waste this year, 70 million from Mechanized and Infantry Units of the Eastern
tons of which will end up polluting the Command.
environment.  It emphasizes live firing scenarios against both
 The report comes ahead of the fourth meeting of moving and static targets, simulating battlefield
the United Nations’ Intergovernmental conditions.
Negotiating Committee (INC) in Ottawa, Canada,  The exercise reaffirmed the strategic objective of
as the world leaders attempt to develop a legally “Ek Missile Ek Tank”.
binding instrument to end plastic pollution.
 Though the report classifies India as a “low-waste- MoUs
producing” polluter due to its low per capita 1. Edelweiss Alt completes acquisition of L&T Infra
plastic waste production (8 kg per capita per year) Development Projs for Rs 6,000 cr
 The country’s expected mismanaged waste in  Edelweiss Alternatives has completed a Rs 6,000
2024 will be 7.4 million tons, which is “very high”. crore deal to acquire L&T Infrastructure
 Still, India’s mismanaged plastic waste will be less Development Projects (LTIDPL).
than one-fifth of China and one-third of the US.  LTIDPL is a joint venture owned by L&T and
Canada Pension Plan Investment Board.
3. Healthcare solution provider Enhanced  The acquisition will give Edelweiss 100%
Innovations launches 'Pholoton' ownership in the joint venture.
 Healthcare solution provider Enhanced  It will include seven road assets and a 960-circuit
Innovations introduces Pholoton, a portable km power transmission line.
 Current Affairs by Kush Pandey: April 13 2024
Important days  FSIB has recommended the name of IFCI
1. World Parkinson’s Day 2024 observed on April 11 Managing Director Manoj Mittal as SIDBI
 World Parkinson's Day is observed annually on Chairman and Managing Director.
April 11 to raise awareness about Parkinson's  Besides, FSIB has suggested name to Sanjay
disease, a neurodegenerative disorder that affects Shukla as Managing Director of National Housing
millions of people worldwide. Bank (NHB).
2. International Day of Human Space Flight 2024
observed on April 12 Obituaries
 The International Day of Human Space Flight is 1. Former NFL Star OJ Simpson Dies of Cancer at Age
commemorated every year on April 12 to mark 76
the beginning of the space era for mankind.  OJ Simpson, the former NFL star, has died of
 The primary reason behind choosing April 12 as cancer at 76.
the date is rooted in the Russian cosmonaut Yuri  He was drafted by the Buffalo Bills in 1969 as a No.
Gagarin’s achievement to orbit Earth aboard the 1 overall pick.
Vostok 1 spacecraft on this day.
2. Former New Zealand Legspinner Jack Alabaster
Appointments Passes Away at 93
1. Gopi Thotakura, set to become the 1st Indian space  New Zealand Cricket (NZC) announced the demise
tourist of former legspinner Jack Alabaster, at the age of
 Jeff Bezos-led space startup Blue Origin revealed 93 in Cromwell, United Kingdom.
the six-person crew that will be flying on its NS-25  During his 17-year international career, he was
mission. part of the team that achieved the country’s first
 This crew includes: Mason Angel, Sylvain Chiron, four Test victories. Alabaster made 143 first-class
Kenneth L. Hess, Carol Schaller, Gopi Thotakura, appearances for Otago, claiming 500 wickets.
and former Air Force Captain Ed Dwight
 Ed Dwight: Science & Technology
1. IIT Jodhpur Unveils Nano-Sensor for Disease
 He was the first Black astronaut candidate in 1961
Tracking
when then US President John F. Kennedy selected
 Researchers at the Indian Institute of Technology
him to enter training at the Aerospace Research
Jodhpur (IIT Jodhpur) have unveiled a
Pilot School (ARPS).
groundbreaking nano-sensor designed to swiftly
 Gopi Thotakura: detect Cytokines, vital proteins regulating various
 He could become the first Indian space tourist in cellular functions.
history.  This innovation aims to combat the high mortality
2. UK’s First Woman High Commissioner to India: rates resulting from delayed diagnoses and the
Lindy Cameron absence of early warnings in disease progression.
 Lindy Cameron, an Oxford graduate and former
2. NASA's ‘Clipper’ spacecraft to explore Jupiter's
CEO of the UK’s National Cyber Security Centre,
moon Europa in $5 billion mission
has been appointed as the UK's first woman high  NASA's $5 billion probe bound for Jupiter's moon
commissioner to India. Europa aims to uncover extraterrestrial life,
3. Mary Kom steps down as Chef-de-Mission for Paris equipped with instruments to examine layers of
Olympics frozen water, potentially harbouring liquid water
 Mary Kom resigned as the Chef de Mission of below the surface.
India’s contingent for Paris Olympics  The Clipper is slated to launch from NASA's
 Renowned sports medicine expert Dr Dinshaw Kennedy Space Center in Florida in October 2024.
Pardiwala has been appointed as the chief medical
3. US, Japan Announce Plans to Send Japanese
officer.
Astronaut to Moon
4. Sushil Sharma Appointed CMD of SJVN Limited  President Joe Biden and Japanese Prime Minister
 The Public Enterprises Selection Board (PESB) Fumio Kishida revealed that Japanese astronauts
panel has recommended Sushil Sharma for the will join future NASA lunar missions as part of the
position of Chairman & Managing Director (CMD) Artemis program.
of SJVN Limited.  This move is seen as a strategic effort to
strengthen economic and defense ties between
5. FSIB selects IFCI MD as SIDBI head, Sanjay Shukla the United States and Japan.
for NHB MD
 Current Affairs by Kush Pandey: April 13 2024
 The Artemis program, led by NASA, aims to return
astronauts to the moon as early as 2026

News Connector
 India's = retail = inflation = eases = to = a = 10-
month = low = of = 4.85% = in = March = 2024
 BharatPe = co-founder = Ashneer = Grover =
ventures = into = fintech = with = ZeroPe = app
 Moody's = Analytics = forecasts = India's =
economy = to = grow = by = 6.1% = in = 2024
 Health = insurers = leave = general = insurance =
industry = far = behind = in = growth = in = FY24
 PhonePe = Partners = with = eSewa, = HAN =
Pokhara = to = Promote = UPI = in = Nepal
 Japan-based = MUFG = to = acquire = 20% = stake
= in = HDFC = Bank's = non-banking = arm
 India's = forex = reserves = rise = for = seventh =
straight = week
 Revolut = gets = RBI = nod = to = issue = Prepaid =
Payment = Instruments = in = India
 World-first = “Cybercrime = Index” = ranks =
countries = by = cybercrime = threat = level
 Indian = real = estate = to = be = worth = $1.5 = trn
= by = 2034 = as = demand = soars
 India = among = 12 = nations = responsible = for =
60% = of = world’s = mismanaged = plastic =
waste
 Healthcare = solution = provider = Enhanced =
Innovations = launches = 'Pholoton'
 Israel = Deploys = C-Dome = Defense = System =
Against = Aerial = Threat = Near = Eilat
 Indian = Army = Conducts = Anti-Tank = Guided =
Missile = Training = Exercise = in = Sikkim
 Edelweiss = Alt = completes = acquisition = of =
L&T = Infra = Development = Projs = for = Rs =
6,000 = cr
 World = Parkinson’s = Day = 2024 = observed = on
= April = 11
 International = Day = of = Human = Space = Flight
= 2024 = observed = on = April = 12
 Gopi = Thotakura, = set = to = become = the = 1st
= Indian = space = tourist
 UK’s = First = Woman = High = Commissioner = to
= India: = Lindy = Cameron
 Mary = Kom = steps = down = as = Chef-de-Mission
= for = Paris = Olympics
 Sushil = Sharma = Appointed = CMD = of = SJVN =
Limited =
 FSIB = selects = IFCI = MD = as = SIDBI = head, =
Sanjay = Shukla = for = NHB = MD
 Former = NFL = Star = OJ = Simpson = Dies = of =
Cancer = at = Age = 76
 Former = New = Zealand = Legspinner = Jack =
Alabaster = Passes = Away = at = 93