10 April 2024 Current Affairs in English

10 April 2024 Current Affairs

10 April 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 10 April 2024 Current Affairs is essential for students who are preparing for exams, especially competitive exams, as it forms an important part of the syllabus. The importance of the 10 April 2024 Current Affairs lies in its ability to help students enhance their general knowledge, improve their reading and comprehension skills, and develop their critical thinking abilities.

10th April Daily Current Affairs 2024

10 April 2024 Current Affairs also provides students with insights into issues such as politics, economics, and social issues that are important for their overall development as informed citizens. Regularly reading and analyzing the 10 April 2024 Current Affairs not only helps students ace their exams but also prepares them for their future roles as responsible and well-informed citizens of society.

World Homeopathy Day 2024

World Homeopathy Day, celebrated on April 10th, 2024, offers an opportunity to explore and discuss this alternative medicine system. This day is observed by practitioners and advocates of homeopathy to raise awareness about the alternative medical approach and its potential benefits.

The theme for World Homeopathy Day 2024 is “Homeoparivar: One Health, One Family”.

Every year, the day is celebrated with a circulated theme which helps to focus on the major issues. This year, the Central Council for Research in Homeopathy is organizing a webcast on April 10 and 11. Read the complete article here.

National Siblings Day 2024

National Siblings Day, a day to celebrate the unique bond between brothers and sisters, falls on April 10th, 2024. This day provides a fun and meaningful opportunity to appreciate the special connection we share with our siblings, regardless of their quirks or occasional annoyances!

It is a day to celebrate the joy and laughter that comes with having siblings. It’s a day to be silly, reminisce about playful memories, and appreciate the unique connection you share. Read the complete article here.

India, EU launch initiative for EV start-ups

The European Union (EU) and India launched an Expression of Interest (EOI) for startups working in Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event. The matchmaking aims to enhance the cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and startups in the clean and green technologies sector.

The intended exchange of knowledge and expertise will be instrumental in advancing the circularity of rare materials and transitioning towards carbon neutrality in both India and the EU. Twelve innovators, six each from India and the EU will be selected and get a pitching opportunity during the Matchmaking Event, scheduled for June 2024.

Indo-Pacific Economic Framework for Prosperity (IPEF) to organize Clean Economy Investor Forum in Singapore

The 14-member Indo-Pacific Economic Framework for Prosperity (IPEF) is set to host its first clean economy investor forum in Singapore on June 5-6. India will also showcase selected ‘investible sustainable infrastructure projects’ at the forum, with a focus on energy transition, sustainable aviation fuel, battery storage hydrogen, green data centers, transport, and EVs.

IPEF has four pillars — trade, supply chain resilience, clean economy, and fair economy (tax and anti-corruption). It was launched in May 2022 and currently includes 14 partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States and Vietnam.

Paytm PB MD & CEO Surinder Chawla resigns due to personal reasons

Managing director and chief executive officer of the beleaguered Paytm Payments Bank, Surinder Chawla, has resigned “on account of personal reasons”. The company said the resignation would be effective from June 26 but did not name any potential successor to Chawla, who was appointed as the MD and CEO of the company in January 2023 after it received a nod from RBI.

ICICI Lombard ties up with Policybazaar to offer insurance products

ICICI Lombard General Insurance Company announced that it has entered into a strategic partnership with Policybazaar to offer products on the platform. The partnership entails inclusion across multiple business lines of the Policybazaar platform including ‘Policybazaar.com’ for retail audiences, ‘PB for Business’ for corporates, and ‘PB Partners’ for channel partners.

Private equity company Bain Capital sells residual stake in Axis Bank

Private equity (PE) firm Bain Capital sold its remaining 1.08% stake in private sector lender Axis Bank. The affiliate firms Bc Asia Investments and Integral Investments South Asia IV sold a total of 33.37 million shares at Rs 1,071 apiece to mop up Rs 3,575 crore. Among the buyers were a clutch of domestic as well as foreign funds.

India secures second overseas port Sittwe in Myanmar after Chabahar in Iran

After Chabahar in Iran, India has gained the rights to operate a second overseas port, Sittwe, in Myanmar. The Ministry of External Affairs (MEA) has approved a proposal for India Ports Global (IPGL) to take over the operations of the entire port located on the Kaladan River. IPGL is a company 100% owned by the Ministry of Ports, Shipping and Waterways.

Sittwe Port has been developed under a framework agreement between India and Myanmar for the construction and operation of a Multimodal Transit Transport Facility on the Kaladan River, connecting the Sittwe Port in Myanmar with the state of Mizoram in India.

US, UK ally to standardize testing public safety in AI models

The United States and Britain have announced a new partnership in which they will be working together to address concerns about the safety of artificial intelligence (AI) technologies. Under the formal partnership, Britain and the United States plan to conduct joint testing exercises on publicly accessible AI models.

Mudra loans see record surge, top ₹5-lakh-cr mark in FY24

Small business loans under the Pradhan Mantri Mudra Yojana witnessed record growth in disbursals in FY24 and also crossed the milestone of ₹5 lakh crore, according to the latest Government data. Loan disbursal under PMMY reached a record high of Rs 5.20 lakh crore in the year ended March 2024, marking a significant increase from Rs 4.40 lakh crore in previous financial year.

Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of the Government of India. The scheme facilitates micro credit/Loans up to Rs. 10 lakhs to income-generating micro-enterprises engaged in the nonfarm sector in manufacturing, trading, or service sectors including activities allied to agriculture such as poultry, dairy, beekeeping, etc.

The loans under Pradhan Mantri Mudra Yojana can be availed through eligible Member Lending Institutions (MLIs), which include:

• Public Sector Banks
• Private Sector Banks
• State-operated cooperative banks
• Rural banks from the regional sector
• Micro Finance Institution
• Non-Banking Finance Company
• Small Finance Banks (SFBs)
• Other financial intermediaries approved by Mudra Ltd.

The scheme has been classified under three categories as ‘SHISHU’, ‘KISHORE’, and ‘TARUN’ to signify the stage of growth/development and funding needs of the beneficiary micro unit/ entrepreneur.

• Shishu: Covering loans up to Rs.50,000/-.
• Kishore: Covering loans above Rs.50,000/- and up to Rs. 5 lakhs.
• Tarun: Covering loans above Rs. 5 lakhs and up to Rs. 10 lakhs.

‘Experimental Licence Module for 100 5G Labs’ launched at IIT Madras

In a move to smoothen the processes for 100 5G Labs across academic institutions in India, one of the “Experimental Licence modules for 100 5G Labs” was launched during a 5G workshop at IIT Madras. This initiative aims to simplify the experimental license requirements for these institutions, facilitating smoother operations and fostering innovation in the 5G domain.

The primary objective behind this initiative is to cultivate competencies and engagement in 5G technologies among students and start-up communities. These labs will be using 5G frequency bands for carrying out various experiments. This license is currently being issued on “Self-declaration Mode” from the Saralsanchar portal of DoT through the National Single Window System.

Unicorns list: US has 703, China 340. India is 3rd globally with these many

According to the Hurun Global Unicorn Index 2024, India for the first time recorded a decline in unicorn creation since 2017. India in 2023 had 67 unicorns, which is one less than 68 such startups last year, according to the latest Hurun Global Unicorn Index. The US led the list with 703 unicorns, up 37 from 2022, and China with 340 unicorns.

The UK and EU ranked No. 4 and No. 5 on the list, respectively. The total value of the world’s unicorns has reached US$5 trillion, equivalent to last year’s GDP of Japan. The report noted that the top 10 unicorns were in China and the US. Indians have founded more offshore unicorns than any other country, cofounding 109 unicorns outside of India compared with 67 in India.

General Insurance industry grows 12.78% in FY24

According to data released by the General Insurance Council, premiums of general insurers grew by 14.24% Y-o-Y to Rs 2.45 trillion in FY24. Non-life insurers posted a 12.78% year-on-year (Y-o-Y) growth in gross direct premiums underwritten in 2023-24 (FY24), reaching Rs 2.89 trillion, compared to 16.4% in the previous financial year.

Public sector general insurers clocked an 8.99% growth in premiums to Rs 90,344.49 crore, whereas their private sector counterparts witnessed a 17.53% increase to Rs 1.55 trillion. Among companies, the industry leader, The New India Assurance Company, saw a 7.4% Y-o-Y growth in premium to Rs 37,035.19 crore.

Among other major insurers, HDFC Ergo General Insurance’s premium increased by 11.61% to Rs 18,567.56 crore, whereas United India Insurance Company’s premium surged 12.51% to Rs 19,851.71 crore and The Oriental Insurance’s premium rose 17.1% Y-o-Y to Rs 18,285.82 crore in FY24.

SBI, Standard Chartered do a CDS trade under new RBI norms

Marking the first such transaction after the Reserve Bank of India (RBI) issued fresh guidelines for the instrument, State Bank of India and Standard Chartered Bank India carried out a Credit Default Swap (CDS) trade worth ₹25 crore. The trade involved a 1-year rupee CDS featuring REC.

Credit default swaps are derivative instruments that provide a form of insurance against the risk of default of the issuer of a bond.

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