The Kolkata Knight Riders (KKR) secured their third Indian Premier League (IPL) title in a dominant fashion, defeating the Sunrisers Hyderabad (SRH) by 8 wickets with 57 balls to spare. Led by captain Shreyas Iyer, KKR showcased their resurgence and overall superiority throughout the tournament. Venkatesh Iyer’s explosive batting sealed the deal, making him the team’s top run-scorer in IPL Playoffs. Additionally, Sunil Narine was named the Most Valuable Player and Ultimate Fantasy Player of the Season, while Virat Kohli (RCB) claimed the Orange Cap for most runs, and Harshal Patel (PBKS) took the Purple Cap for most wickets. The full list of awards for the IPL 2024 season includes various accolades, from emerging players to outstanding performances in the final match.
Hayley Matthews: ICC Women’s Player of the Month
Hayley Matthews, the captain of West Indies, clinched the ICC Women’s Player of the Month award for April 2024. Her outstanding all-round performances included 451 runs and 12 wickets across ODIs and T20Is against Pakistan. Matthews’ leadership and contributions were pivotal in West Indies’ series victories.
Muhammad Waseem_ ICC Men’s Player of the Month. Muhammad Waseem, UAE’s captain and opener, secured the ICC Men’s Player of the Month accolade for April 2024. Leading UAE to victory in the ACC Premier Cup, Waseem scored 269 runs with a remarkable strike rate of 182.99, including a rapid century in the final against Oman. His aggressive batting was crucial in UAE’s success.
Summary of RBI Annual Report 2023-24
1. Global Economic Environment Despite challenges like inflation and geopolitical tensions, the global economy showed resilience. Global growth projections for 2024 are below historical averages, with varying trends across regions. Inflation remained a concern, especially in major economies, hindering further disinflation.
2. Domestic Economic Environment
India emerged as the fastest-growing major economy, with GDP growth accelerating to 7.6% in 2023-24. Government-led infrastructure spending boosted Gross Fixed Capital Formation (GFCF). Inflation moderated to 5.4%, driven by lower core inflation and deflation in fuel prices. Monetary Policy Committee maintained the repo rate at 6.50%, focusing on inflation control and growth support.
3. Financial Sector
Indian financial markets remained stable, with orderly movements in bonds, forex, and buoyant equity markets. Indian Rupee depreciated by 1.4%, performing well among major emerging market currencies. Equity market capitalization surpassed US$ 4 trillion, while repo rate increases impacted lending and deposit rates.
4. Fiscal and External Sector
Central government achieved fiscal consolidation, reducing gross fiscal deficit to 5.9% of GDP. Capital expenditure saw double-digit growth, while revenue spending growth was contained. Merchandise exports declined by 3.1%, influenced by global trade dynamics, while imports fell by 5.7%. Current account deficit (CAD) moderated to 1.2% of GDP, supported by robust foreign exchange reserves.
5. Regulatory and Supervisory Developments
RBI issued guidelines to enhance governance, risk management, and capital buffers in the financial sector. Initiatives included default loss guarantees in digital lending and norms for commercial bank investment portfolios. Active engagement with supervised entities ensured compliance and conducted cyber risk assessments.
6. Financial Inclusion and Digitalisation
Financial Inclusion Index improved, reflecting deeper financial penetration. Growth in card transactions and Bharat Bill Payment System (BBPS) transactions accelerated. UPI platform surpassed 13 billion transactions monthly, with enhancements in payment systems.
7. Prospects for 2024-25
Outlook for Indian economy remains positive, driven by strong macroeconomic fundamentals and resilient external sector. Government focus on capital expenditure and fiscal discipline expected to boost investment and consumption. Favorable prospects in agriculture due to expected above-normal monsoon and government support. Emerging sectors like renewable energy and semiconductors poised for rapid growth with policy support.
Smartphone Exports Surge Smartphones have become India’s fourth-largest export item, achieving $15.6 billion in FY24 with a 42% growth. This marks a significant rise in global rankings from the previous year, highlighting the sector’s rapid expansion since data collection began separately for smartphones in April 2022.
- Dissolution of Food and Nutrition Board (FNB) The Food and Nutrition Board, a technical body under the Ministry of Women and Child Development supporting community nutrition programs, has been officially dissolved. This move is part of the Indian government’s efforts to streamline administrative structures and rationalize various organizations.
- India’s Trade Deficit and Top Trading Partners India recorded a trade deficit with nine out of its top ten trading partners in FY23-24. China emerged as India’s largest trading partner, surpassing the United States, with bilateral trade totaling $118.4 billion, underscoring China’s significant economic relationship with India.
Successful Test of Rudram-II Anti-Radiation Missile India achieved a milestone with the successful flight test of the indigenously developed anti-radiation missile Rudram-II. Launched from a Su-30 MKI fighter aircraft off Odisha’s coast, Rudram-II is designed for suppressing enemy air defenses, enhancing India’s defense capabilities in SEAD missions.
- Revision of Retirement and Death Gratuity Limits The Indian government increased the maximum limit of retirement and death gratuity for Central government employees from Rs 20 lakh to Rs 25 lakh, effective January 1, 2024. This revision aims to enhance benefits and financial security for retiring and deceased employees and their families
- Great Indian Bustard Census in Jaisalmer The annual waterhole census in Jaisalmer’s National Desert Park revealed 64 critically endangered Great Indian Bustards. This method, conducted during summer, highlighted a significant presence of the species within the park, marking a positive development for their conservation.
- Uttar Pradesh Leads in Transmission Lines Uttar Pradesh topped in adding transmission lines by state transmission companies in 2023-24, maintaining its position from the previous fiscal year. This achievement underscores the state’s commitment to enhancing its electricity infrastructure and meeting growing energy demands.
Goa Statehood Day May 30 is celebrated annually as Goa Statehood Day, marking the day in 1987 when Goa attained statehood within the Indian union. This occasion commemorates Goa’s transition from being a Union Territory to a full-fledged state, symbolizing its distinct identity within India.
- Introduction of AI Learning in Kerala’s School Curriculum Kerala introduced Artificial Intelligence (AI) learning in the ICT textbook for Class 7 students. This initiative aims to educate over 4 lakh students about AI, enhancing technological literacy from a young age and aligning with advancements in digital education.
- Maldives to Launch India’s RuPay Service The Maldives announced plans to launch India’s RuPay service, reflecting strengthening economic ties between the two nations. This initiative aims to promote financial inclusivity and efficiency, benefiting citizens and businesses in the Maldives through a widely accepted payment system.
- Saudi Arabia Appoints Ambassador to Syria Saudi Arabia appointed Faisal bin Saud Al-Mejfel as its ambassador to Syria, marking a significant diplomatic move after a decade-long gap. This appointment signifies a thaw in relations between the two nations amidst ongoing regional dynamics and the Syrian civil war’s aftermath.
- Reelection of Lithuanian President Gitanas Nausėda Lithuanian President Gitanas Nausėda secured a second term with 74.5% of the votes, defeating Prime Minister Ingrida Šimonytė. His reelection underscores public support for his moderate conservative policies and strong advocacy for Ukraine amidst regional security concerns.
- Ghana’s Collaboration for Telecom Infrastructure Enhancement Ghana’s NGIC collaborated with Reliance Jio’s Tech Mahindra and Nokia to bolster its 4G and 5G capabilities, aiming to replicate India’s telecom success. This partnership seeks to enhance digital connectivity across sectors, supporting Ghana’s economic growth and technological advancement.
- Purnima Shrestha’s Triple Ascent of Mount Everest Nepalese climber Purnima Shrestha achieved a remarkable feat by summiting Mount Everest three times in one season. Working as a photojournalist, her climbs on May 12, 19, and 25 exemplify exceptional mountaineering prowess and determination.
Chad’s New President Mahamat Idriss Deby Mahamat Idriss Deby was sworn in as Chad’s new president, ending three years of military rule in the country. His ascension marks a pivotal transition for Chad, focusing on governance stability and addressing socio-economic challenges in the oil-rich nation.
- Landslide Tragedy in Yambali Village, Papua New Guinea A devastating landslide in Yambali village, Papua New Guinea’s Enga Province, buried the entire village, resulting in over 670 fatalities and potentially trapping more than 2000 individuals. This catastrophic event necessitates urgent humanitarian assistance and recovery efforts.
- RIL’s Partnership with Nel ASA for Green Energy Reliance Industries Ltd (RIL) forged a significant technology partnership with Norway’s Nel ASA to accelerate its green energy investments, particularly in green hydrogen production. This alliance aims to play a crucial role in RIL’s transition towards sustainable energy solutions.
Russia to Remove Taliban from Terrorist Organization List Russia announced plans to remove the Taliban from its list of banned terrorist organizations, signaling a shift in relations following the group’s return to power in Afghanistan. This move reflects Russia’s diplomatic engagement with the Taliban amidst evolving regional dynamics.
- Sweden’s Donation of Airborne Surveillance Aircraft to Ukraine Sweden donated two Saab Airborne Surveillance and Control (ASC) 890 aircraft to Ukraine, enhancing its defense capabilities against Russia. These radar surveillance planes will bolster Ukraine’s long-range target identification and support the integration of Western-supplied F-16 fighter jets.
- Jetha Ahir Elected Chairman of NAFED Shehra BJP MLA Jetha Ahir, former Gujarat Assembly deputy speaker, was elected uncontested as Chairman of NAFED. Supported by Rajkot MP Mohan Kundariya, Ahir’s election in Delhi highlights his role in agricultural cooperative marketing, aiming to enhance cooperative activities and farmer welfare nationwide.
- Indian Economy’s Robust Growth in FY24 The Indian economy reported a robust GDP growth of 7.4% in Q4 FY24, contributing to an overall 8% growth for the fiscal year, as per SBI Research. This growth underscores India’s economic resilience amidst global and domestic challenges, supporting recovery and expansion across sectors.
- Launch of IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card Poonawalla Fincorp Limited, in collaboration with IndusInd Bank, introduced the ‘IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card’. This co-branded card aims to offer enhanced financial solutions and benefits to customers, leveraging their combined expertise in financial services.
Appointment of Gaurav Banerjee as Sony India CEO Sony appointed Gaurav Banerjee, a senior executive from Walt Disney, as its new CEO for India operations. This strategic move aims to strengthen Sony’s position in the Indian media and entertainment industry, leveraging Banerjee’s experience to drive growth and innovation.
- Appointment of P Santhosh as MD & CEO of NARCL The National Asset Reconstruction Company (NARCL) appointed P Santhosh as its new Managing Director and CEO. Santhosh, recommended by NARCL’s board, will lead efforts in managing and resolving stressed assets, contributing to financial sector stability and asset reconstruction in India.
Shah Rukh Khan Appointed as Brand Ambassador for Muthoot Pappachan Group Muthoot Pappachan Group (MPG) appointed Shah Rukh Khan as its new brand ambassador. This strategic collaboration aims to strengthen MPG’s brand presence and connect with a diverse audience across India, leveraging Khan’s popularity and appeal.
- Appointment of Sandeep Batra as Chairman of ICICI Prudential Life Insurance IRDAI approved the appointment of Sandeep Batra as the Chairman of the Board of Directors of ICICI Prudential Life Insurance Company. Batra’s leadership will guide strategic decisions and governance, supporting ICICI Prudential’s role as a leading life insurer in India.
- Appointment of Rakesh Ranjan as Chairman of SSC Rakesh Ranjan, a 1992 batch IAS officer from Manipur Cadre, was appointed as the Chairman of the Staff Selection Commission (SSC). His appointment signifies a key leadership role in overseeing recruitment processes and promoting efficiency within India’s premier selection agency.
- Election of Dr. Emmanuelle Soubeyran as Director General of WOAH Dr. Emmanuelle Soubeyran was elected as the Director General of the World Organization for Animal Health (WOAH) for the 2024-2029 term. Her election underscores international confidence and support, aiming to enhance global animal health standards under her leadership.
PV Sindhu Designated as Brand Ambassador for Tobacco Control Indian badminton star PV Sindhu was appointed as the brand ambassador for Tobacco Control, aimed at promoting awareness against tobacco use among youth. Her role underscores efforts to combat tobacco-related health hazards and promote a healthier lifestyle.
- Indian Army’s Collaboration with IOCL for Hydrogen Fuel Cell Bus Technology The Indian Army partnered with Indian Oil Corporation Limited (IOCL) for demonstration trials of Hydrogen Fuel Cell Bus technology. This initiative underscores the Army’s commitment to innovation and environmental sustainability, exploring advanced technologies for future mobility solutions.
- Agnikul Cosmos’ Successful Launch of Agnibaan Rocket Chennai-based startup Agnikul Cosmos successfully launched the world’s first space rocket with a single-piece 3D printed engine, named Agnibaan. This milestone marks India’s entry into semi-cryogenic engine-powered rockets, showcasing indigenous manufacturing capabilities and technological advancement in space exploration.
Indian Air Force Participation in ‘Red Flag 24’ Exercise in Alaska The Indian Air Force (IAF) joined the ‘Red Flag 24’ multi-nation military exercise in Alaska, USA. This exercise provides realistic combat training, enhancing interoperability and operational readiness of participating forces in challenging scenarios, reinforcing international defense cooperation.
- Arti Honored with Amal Clooney Women’s Empowerment Award Arti, an 18-year-old woman from Uttar Pradesh’s Bahraich district, received the prestigious Amal Clooney Women’s Empowerment Award from King Charles III of the UK. This recognition celebrates her efforts in promoting women’s empowerment and social change at a global level.
- NHPC Receives ‘The Economic Times HR World Future Ready Organization Award 2024-25’ NHPC, India’s premier hydropower company, was honored with ‘The Economic Times HR World Future Ready Organization Award 2024-25’. This accolade recognizes NHPC’s strategic human resource management and readiness to navigate future challenges, reinforcing its leadership in the power sector.
- Payal Kapadia Wins Grand Prix at 77th Cannes Film Festival Indian filmmaker Payal Kapadia won the Grand Prix award at the 77th Cannes Film Festival for her film ‘All We Imagine as Light’. This achievement marks a historic moment for Indian cinema, celebrating Kapadia’s cinematic prowess and storytelling.
- Dipa Karmakar’s Gold Medal Win at Asian Women’s Artistic Gymnastics Championships Indian gymnast Dipa Karmakar made history by winning India’s first-ever gold medal in the women’s vault individual final at the Asian Women’s Artistic Gymnastics Championships 2024 in Tashkent, Uzbekistan. Her victory showcases India’s growing prowess in international gymnastics competitions.
Major Radhika Sen Awarded UN Military Gender Advocate of the Year Major Radhika Sen, serving with MONUSCO in Congo, received the 2023 UN Military Gender Advocate of the Year Award for promoting UN Security Council resolution 1325 on women, peace, and security, recognizing her dedication to gender equality and peacekeeping efforts.
- NIMHANS Awarded Nelson Mandela Award for Health Promotion Bengaluru’s NIMHANS received the 2024 Nelson Mandela Award for Health Promotion from WHO. This prestigious award acknowledges NIMHANS’ significant contributions to mental health awareness and promotion, reinforcing its leadership in mental healthcare globally.
- India Assumes Chairmanship of Colombo Process India took over the chairmanship of the Colombo Process, a regional forum comprising 12 South and Southeast Asian nations. Established in 2003, the forum focuses on managing overseas employment and protecting migrant workers, enhancing regional cooperation and welfare initiatives.
- World Bank’s Report on ‘Water For Shared Prosperity’ The World Bank’s report ‘Water For Shared Prosperity,’ presented at the 10th World Water Forum, underscores water’s pivotal role in equitable development amid global challenges like population growth and climate change. It advocates for inclusive strategies to ensure global water security and sustainability.
- Income Tax Department Establishes Cost Inflation Index (CII) for FY 2024-25 The Income Tax department set the Cost Inflation Index (CII) for FY 2024-25 at 363. This index aids taxpayers in calculating long-term capital gains accurately, adjusting for inflationary effects on various capital assets, facilitating fair taxation and financial planning.
Shahid Afridi Appointed ICC Men’s T20 World Cup Brand Ambassador The ICC appointed Shahid Afridi, the legendary Pakistani cricketer, as the brand ambassador for the upcoming 9th ICC Men’s T20 World Cup co-hosted by the West Indies and the USA from June 1 to 29, 2024, enhancing the tournament’s global outreach and excitement.
- Dipa Karmakar’s Historic Gold Medal Win at Asian Gymnastics Championships Dipa Karmakar made history by securing India’s first-ever gold medal in the women’s vault individual final at the 2024 Asian Women’s Artistic Gymnastics Championships in Tashkent, Uzbekistan, showcasing her exceptional talent and India’s growing prominence in international gymnastics competitions.
- Charles Leclerc’s Monaco Grand Prix Victory Ends 92-Year Drought Ferrari’s Charles Leclerc won the Monaco Grand Prix, becoming the first Monegasque driver since 1931 to achieve this feat. His victory at the prestigious event marked a historic moment in Formula 1, ending a long-standing drought for Monegasque drivers at their home race.
Boxing Federation of India (BFI) Joins World Boxing (WB) The Boxing Federation of India (BFI) agreed to affiliate with World Boxing (WB), a newly formed governing body. This decision, amid ongoing World Olympic qualifiers, reflects efforts to streamline international boxing governance following issues with the International Boxing Association (IBA).
- Brydon Carse Suspended for Betting Offenses England cricketer Brydon Carse received a three-month suspension for betting on cricket matches between 2017 and 2019, breaching regulations. This disciplinary action underscores cricket’s zero-tolerance approach towards betting-related offenses to maintain the sport’s integrity.
- Launch of Sanchar Saathi Initiative Against Fraudulent SMS The Department of Telecommunication (DoT), with the Ministry of Home Affairs, launched the Sanchar Saathi Initiative to combat fraudulent SMS targeting mobile users. Eight frequently misused SMS headers were identified and blocked, aiming to protect users from deceptive messages and cyber threats.
- PRAGATI-2024 Initiative by Central Council for Research in Ayurvedic Sciences (CCRAS) CCRAS initiated PRAGATI-2024 (Pharma Research in AyurGyan And Techno Innovation) to promote research collaboration in Ayurveda. This initiative aims to advance Ayurvedic drug research, fostering innovation and scientific contributions to traditional medicine within India’s healthcare sector.
- Microsoft’s ‘Copilot+ PCs’ Launch with Advanced AI Capabilities Microsoft introduced ‘Copilot+ PCs,’ featuring advanced AI capabilities developed in collaboration with Acer and ASUSTeK Computer. Priced at $1,000, these PCs aim to perform AI tasks locally without relying on cloud data centers, enhancing user experience and efficiency in personal computing.
Confirmation of Recent Volcanic Activity on Venus Italian scientists confirmed recent volcanic activity on Venus using archival data from NASA’s Magellan mission. Surface changes indicate new lava flow formations, marking the second direct evidence of volcanic eruptions during the spacecraft’s orbit, advancing understanding of Venusian geological processes.
- Wipro 3D and ISRO’s 3D-Printed Rocket Engine for PSLV Wipro 3D and ISRO successfully developed and tested a 3D-printed rocket engine for India’s Polar Satellite Launch Vehicle (PSLV) fourth stage (PS4). This technological achievement underscores India’s progress in additive manufacturing for space exploration, enhancing ISRO’s launch capabilities and cost-efficiency.
IMPORTANT DAYS
- International Day of United Nations Peacekeepers Celebrated on May 29, the International Day of UN Peacekeepers honors peacekeepers’ contributions to global peace and security since 1948. The theme for 2024, “Fit for the Future: Building Better Together,” highlights their role in conflict resolution and peacebuilding worldwide.
- International Day of Action for Women’s Health 2024 The International Day of Action for Women’s Health on May 28 advocates for gender equality and women’s rights in health. Under the theme “Mobilising in Critical Times of Threats and Opportunities,” it promotes women’s empowerment and access to comprehensive healthcare services globally.
World Hunger Day Observed on May 28, World Hunger Day raises awareness about global hunger and advocates for sustainable solutions. The 2024 theme, “Thriving Mothers, Thriving World,” highlights the crucial role of nutrition in maternal and child health, emphasizing the need for collective action against hunger.
International Potato Day Celebrated on May 30, International Potato Day aims to promote potato’s diverse roles in food security and nutrition globally. The inaugural theme, “Harvesting Diversity, Feeding Hope,” underscores its significance in sustainable agriculture and as a staple food in many countries.
International Everest Day May 29 marks International Everest Day, commemorating the first ascent of Mt. Everest by Tenzing Norgay and Edmund Hillary in 1953. This day celebrates their historic achievement, inspiring mountaineers and adventurers worldwide to push boundaries and pursue extraordinary challenges.
World No Tobacco Day Observed on May 31, World No Tobacco Day raises awareness about the health risks of tobacco use and advocates for effective tobacco control policies. It emphasizes reducing tobacco consumption and preventing related diseases through global initiatives and public health campaigns.
Hindi Journalism Day Celebrated on May 30, Hindi Journalism Day honors the legacy of Udant Martand, India’s first Hindi newspaper published in 1826. This day recognizes Hindi journalism’s growth and its role in informing and empowering Hindi-speaking communities across India.
World Milk Day June 1 marks World Milk Day, celebrating dairy’s nutritional contribution to global diets. The theme, “Celebrating Dairy’s Role in Nourishing the World,” underscores dairy’s importance in providing essential nutrients and supporting sustainable agriculture, promoting milk’s benefits worldwide.
OTHERS NEWS
Richard M. Sherman’s Passing Richard M. Sherman, part of the Sherman Brothers duo known for iconic Disney songs, passed away at 95. Alongside his brother Robert, he composed timeless classics for films like “Mary Poppins” and “The Jungle Book,” leaving a lasting impact on generations with their award-winning music.
Jyoti Ratre Conquers Mount Everest Jyoti Ratre, an entrepreneur from Madhya Pradesh, became the oldest Indian woman to summit Mount Everest. Her achievement at age 52 follows Sangeeta Bahl’s record as ‘India’s oldest woman to climb Everest’ in 2018, showcasing resilience and determination in conquering the world’s highest peak.
Satyadeep Gupta’s Mountaineering Feat Satyadeep Gupta, an Indian mountaineer, made history by scaling Mount Everest and Mount Lhotse twice in a single season. He completed the feat in a record 11 hours and 15 minutes, establishing himself as the first Indian to achieve this remarkable traverse of two iconic Himalayan peaks.
Bruhat Soma Wins Scripps National Spelling Bee Bruhat Soma, a 12-year-old Indian-American seventh-grader from Florida, won the Scripps National Spelling Bee. He triumphed by correctly spelling 29 words in the tiebreaker round, continuing the community’s dominance in the competition and earning over $50,000 in prizes for his exceptional spelling prowess.
STATIC GK
Maldives:
- President: Mohamed Muizzu
- Capital: Malé
- Currency: Maldivian rufiyaa
Chad:
- Capital: N’Djamena
- Currency: Central African CFA franc
United Nations Truce Supervision Organization (UNTSO):
- Headquarters: Jerusalem
- Founded: 29 May 1948
International Cricket Council (ICC):
- Headquarters: Dubai, United Arab Emirates
- Founded: 15 June 1909
- CEO: Geoff Allardice
- Chairman: Greg Barclay
Papua New Guinea:
- Head of State: King Charles III of Britain
- Prime Minister: James Marape
- Capital: Port Moresby
- Currency: Kina
Goa:
- Chief Minister: Shri Pramod Sawant
- Governor: Shri P.S. Sreedharan Pillai
- Capital: Panaji (Executive Branch)
- Admission to union: 19 December 1961
- Previous status: Goa, Daman and Diu
- Bird: Flame-throated bulbul
Kerala:
- Capital: Thiruvananthapuram
- Chief Minister: Pinarayi Vijayan
- Governor: Arif Mohammad Khan
Daily Current Affairs for UPSC, APSC, Bank, SSC, Government Jobs, and Sarkari Exams
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April 2024 Current Affairs in Hindi
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