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National News
Governor R.N. Ravi Inaugurates Param Vir Chakra Garden
Tamil Nadu Governor R.N. Ravi inaugurated the Param Vir Chakra garden and Aikyam exhibition at the Kanchi Mahaswami Vidya Mandir in Tambaram. Ravi was accompanied by Lt. Gen. Karanbir Singh Brar, Ati Vishisht Seva Medal (AVSM), General Officer Commanding (Dakshin Bharat area), and V.Shankar, chairman of the Sri Kanchi Mahaswami Trust.
International News
Korean Fusion Reactor ‘Artificial Sun’ Sets New Record
Scientists in South Korea have set a new world record using the Korea Superconducting Tokamak Advanced Research (KSTAR) device, an “artificial sun” nuclear fusion reactor. During tests conducted between December 2023 and February 2024, they generated plasma temperatures of 100 million degrees Celsius for a duration of 48 seconds.
Germany Legalizes Recreational Cannabis
On April 1, 2024, Germany became the largest European Union (EU) nation to legalize recreational cannabis use, despite facing opposition from politicians and medical associations. Under the new law, adults over 18 are now permitted to carry up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home.
Appointments News
IIT-Kanpur Alumnus Sandeep Jain Steps Into FISME Presidency
Sandeep Jain, an auto-component manufacturer and alumnus of IIT-Kanpur, has been unanimously elected as the President of the Federation of Indian Micro and Small & Medium Enterprises (FISME) for the year 2024-25. In line with FISME’s tradition of holding annual elections, Jain’s name was approved in a meeting of the Central Executive Committee held in New Delhi. FISME elects one-third of its CEC members annually, and the newly constituted body elects the President for the year.
Lt Gen JS Sidana is New Director General of EME
Lieutenant General JS Sidana has taken over as the 33rd Director General of the Department of Electronics and Mechanical Engineers (DGEME) and Senior Colonel Commandant of the EME Corps on April 1, 2024.
Sanjay Nayar Appointed as New ASSOCHAM President
The Associated Chambers of Commerce and Industry of India (ASSOCHAM), a prominent industry chamber, has appointed Sanjay Nayar as its new President. Nayar has replaced Ajay Singh, the Co-Founder of SpiceJet airline, whose tenure has ended.
Santosh Kumar Jha Appointed as New CMD of Konkan Railway Corporation
Santosh Kumar Jha, an Indian Railway Traffic Services (IRTS) officer of the 1992 batch, will assume the role of Chairman and Managing Director (CMD) of the Konkan Railway Corporation Ltd. (KRCL) on April 1, 2024.
Banking News
RBI’s DIGITA Initiative: Curbing Illegal Lending Apps
The Reserve Bank of India (RBI) is contemplating the establishment of the Digital India Trust Agency (DIGITA) to combat the proliferation of illegal lending apps. This initiative aims to bolster cybersecurity measures and clamp down on fraudulent activities in the digital lending sector.
Merger Announcement: AU Small Finance Bank and Fincare Small Finance Bank
AU Small Finance Bank has merged with Fincare Small Finance Bank, marking a significant consolidation in the banking sector. The merger, finalized on April 1, 2024, through an all-stock deal, strengthens AU SFB’s presence in South India and enhances its customer base and distribution network.
Economy News
SEBI Unveils SCORES 2.0: Enhancing Investor Complaint Redress System
The Securities and Exchange Board of India (SEBI) has launched SCORES 2.0, an upgraded version of its Complaint Redress System (SCORES), to strengthen mechanisms for addressing investor complaints. This enhanced system features automated routing, oversight by designated authorities, and streamlined processes. Understanding SEBI SCORES: SEBI Complaint Redress System (SCORES) is an online platform launched in June 2011, allowing investors to lodge complaints in the securities market via web URL and an app.
World Bank Raises India’s Growth Projection: FY24 GDP at 7.5%
The World Bank has revised India’s GDP growth projection for FY25 to 6.6%, indicating a moderate yet steady growth trajectory. Despite the anticipated slowdown, robust economic activity in India is expected to drive growth in South Asia, outpacing other emerging market and developing economies.
Business News
Paradip Port Emerges as India’s Top Cargo-Handling Port in 2023-24
Paradip Port Authority, Odisha, surpasses Deendayal Port Authority, Kandla, to become India’s leading cargo-handling major port in the fiscal year 2023-24, handling 145.38 Million Metric Tons (MMT) of cargo, marking a 7.4% growth from the previous year.
Tata Tech-BMW Joint Venture for Auto Software and Business IT Solutions
Tata Technologies and BMW Group have inked a partnership to establish an automotive software and IT development center in Chennai, Pune, and Bengaluru. With Chennai’s prominence in housing IT solution hubs for auto giants like Visteon, Ford, and Renault Nissan, the focus here will be on business IT solutions.
PepsiCo’s Investment in Ujjain: A Game-Changer for Madhya Pradesh
In a significant move, PepsiCo India announces a massive investment of ₹1,266 crore to establish a cutting-edge flavour manufacturing facility in Ujjain, Madhya Pradesh. Scheduled to commence operations in the first quarter of 2026, this plant marks a pivotal moment for both PepsiCo and the local economy.
Defence News
Record Growth in Indian Defence Exports: A Milestone Achievement
The Ministry of Defence (MoD) announced that India’s defence exports surged to a record Rs 21,083 crore in the fiscal year 2023-24, marking a remarkable growth of 32.5% from the previous year. This achievement is attributed to the concerted efforts of both the private sector and Defence Public Sector Undertakings (DPSUs), supported by policy reforms and initiatives aimed at facilitating ease of doing business.
Agreements News
IOCL and Panasonic Partner for Lithium-ion Cell Manufacturing in India
Indian Oil Corporation Ltd. (IOCL) has collaborated with Panasonic Energy to establish a joint venture aimed at producing lithium-ion cells in India. This strategic partnership comes in response to the anticipated surge in demand for electric vehicles (EVs) and energy storage solutions within the country.
Schemes News
‘One Vehicle, One FASTag’ Norm Implemented
The National Highways Authority of India (NHAI) has introduced the ‘One Vehicle, One FASTag‘ norm, which aims to prevent the use of a single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle.
Science and Technology News
Kodaikanal Solar Observatory: Celebrating 125 Years of Unraveling the Mysteries of the Sun
Perched atop the picturesque Palani Hills in Tamil Nadu, the iconic Kodaikanal Solar Observatory (KSO) recently commemorated a remarkable milestone – its 125th anniversary of studying the celestial body that sustains life on Earth, the Sun. On April 1, 2024, the Indian Institute of Astrophysics (IIA), an autonomous institute under the Department of Science and Technology, organized a grand celebration to honor the legacy of this historic observatory and felicitate the scientists who have dedicated their lives to advancing our understanding of our star.
Sports News
Maharashtra Men’s and Women National Kho Kho Champion
The Maharashtra team emerged as the undisputed champion at the 56th National Kho Kho Championship 2023-24, clinching both the men’s and women’s titles. The championship was held at Delhi’s Karnail Singh Stadium and the Indira Gandhi Indoor Stadium.
Obituaries News
Veteran Actress Barbara Rush Passes Away at 97
Barbara Rush, a Golden Globe-winning actress, embarked on her journey in the entertainment industry in the 1950s. Her breakthrough role came in 1954 with the science-fiction film “It Came from Outer Space,” which earned her the Golden Globe Award for Most Promising Newcomer.
03rd April CURRENT AFFAIRS 2024 | ALL EXAMS IMP. CURRENT AFFAIRS | ASHISH GAUTAM SIR
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