12 April 2024 Current Affairs in English

12 April 2024 Current Affairs

12 April 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 12 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 12 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.

12th April Daily Current Affairs 2024

12 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 12 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.

International Day of Human Space Flight 2024

Every April 12, people around the world come together to celebrate the International Day for Human Space Flight. This special day honors the very first person to go to space, a brave astronaut named Yuri Gagarin from the Soviet Union. His journey into space on April 12, 1961, changed our world and got everyone excited about exploring outer space.

The theme of the 2024 International Day of Human Space Flight is to “Encourage scientific curiosity“, it will help in promoting the peaceful exploration and maintenance of outer space. Read the complete article here.

RBL Bank appoints Murali Ramakrishnan as independent director for 4 years

Private sector lender RBL Bank appointed Murali Ramakrishnan as Non-Executive Independent Director with immediate effect for four years as per the provisions of the Companies Act, 2013 and SEBI Listing Regulations, subject to the approval of the shareholders of the Bank. In terms of Section 149(13) of the Companies Act, 2013.

Tata Motors and Shell partner to expand EV charging network in India

Tata Passenger Electric Mobility (TPEM) and Shell India Markets (SIMPL) have signed a Memorandum of Understanding (MoU) to collaborate on establishing new public charging stations across India.

The collaboration will leverage Shell’s existing network of fuel stations and data from Tata Passenger on how people charge their Tata electric vehicles (EVs).

This collaboration is expected to address the challenge of limited charging infrastructure, which is a major hurdle for the wider adoption of electric vehicles in India. This will enable them to strategically place chargers where they are most needed. The agreement also includes exploring the development of user-friendly payment systems and loyalty programs.

ADB ups India GDP forecast to 7% for FY25 on investments, consumer demand

The Asian Development Bank (ADB) upgraded India’s gross domestic product (GDP) growth forecast for 2024-25 (FY25) to 7% from 6.7% earlier, citing better prospects of robust public and private investment and strong services sector growth. The forecast is part of the latest edition of ADB’s flagship economic publication, Asian Development Outlook April 2024.

The ADB’s projection is in line with the Reserve Bank of India’s (RBI’s) estimate of 7% growth in FY25. The RBI’s Monetary Policy Committee last week said an expected normal south-west monsoon should support agricultural activity.

Citroën becomes the first multinational carmaker to export EVs from India

French carmaker Citroën became the first multinational car manufacturer in India to export domestically made electric vehicles to the international market. The company on Thursday announced the commencement of exports of locally manufactured ë-C3. The initial shipment of 500 units of the Made-in-India Citroën ë-C3 to Indonesia was ceremonially flagged today from Kamarajar Port.

Suryoday Small Finance Bank appoints Deepak Kumar Sharma as Additional Director

The Board of Directors of Suryoday Small Finance Bank has appointed Deepak Kumar Sharma as an Additional Director on the Board of the Bank, with effect from April 11, 2024. It is the basis of the recommendation of the Nomination and Remuneration Committee and subject to the approval of Shareholders of the Bank, is for five consecutive years.

PSU banks beat private peers in market capitalization gains during Q4

State-owned banks beat their private-sector peers, posting the highest gains in their market capitalization in Q4 FY24, on the back of improved financial metrics. The government’s focus on long-term projects also largely benefits state-owned lenders, S&P Market Intelligence said in a note.

15 of the 20 largest banks in India logged gains in market capitalization, with 13 of them posting double-digit increases. The market capitalization of all PSU banks, on the list of the country’s 20 largest banks, improved from the previous quarter. Indian Overseas Bank led the country’s 20 largest banks with a 38.5% sequential increase in market cap to ₹1.13-lakh crore.

Punjab & Sind Bank and Bank of Maharashtra ranked second and third, with gains of 38.4% and 38.1%, respectively. On the other hand, only ICICI Bank and Yes Bank saw an improvement among private banks, posting single-digit growth in market capitalization.

Sushil Sharma appointed as CMD of SJVN Limited

Sushil Sharma has been appointed as the Chairman and Managing Director of SJVN Limited (formerly known as Satluj Jal Vidyut Nigam). Currently serving as Director (Projects) at the company, he was recommended for this role by the Public Enterprises Selection Board (PESB) out of a total of nine candidates.

SJVN Limited, a Mini Ratna, Category-I and Schedule – ‘A’ CPSE under administrative control of the Ministry of Power, Govt. of India, was incorporated on May 24, 1988, as a joint venture of the Government of India (GOI) and the Government of Himachal Pradesh (GOHP).

Global recognition to Gagandeep Kang for research on enteric diseases in children

Gagandeep Kang, Director, Enteric, Diagnostics, Genomics and Epidemiology, Bill and Melinda Gates Foundation, was awarded the 2024 John Dirks Canada Gairdner Global Health Award for scientifically based research that has improved the health and well-being of those facing health inequities worldwide.

The Gairdner Foundation announced the 2024 laureates of the Canada Gairdner International Award, John Dirks Canada Global Health Award, and the Canada Gairdner Momentum Award. Dr. Kang’s work focused on enteric diseases in children in India and throughout the world.

India ranks number 10 in cybercrime, and Russia tops the list followed by Ukraine

An international team of researchers has compiled the ‘World Cybercrime Index’ that ranks roughly 100 countries and identifies key hotspots according to various categories of cybercrime, including ransomware, credit card theft, and scams. India ranked number 10 in cybercrime, with frauds involving people making advance fee payments being the most common type.

Russia topped the list and was followed by Ukraine, China, the US, Nigeria, and Romania. North Korea was in the seventh position, while the UK and Brazil were in the eighth and ninth positions, respectively, according to the research published in the journal PLoS ONE.

The major categories that the researchers identified were – technical products and services such as malware and compromising systems; attacks and extortion including ransomware; data and identity theft including hacking, compromising accounts and credit cards; scams such as advance fee fraud; and cashing out or money laundering involving illegitimate virtual currency.

India, Mauritius revise tax treaty, aim to plug evasion

India has signed a protocol amending the Double Taxation Avoidance Agreement (DTAA) with Mauritius to plug treaty abuse for tax evasion or avoidance. In the amended protocol, Article 27B has been introduced in the treaty defining the ‘entitlement to benefits’. The amendment to the India-Mauritius treaty was signed on March 7 at Port Louis and was made public recently.

The amended pact has included what is called the Principal Purpose Test (PPT), which essentially lays out the condition that the tax benefits under the treaty will not be applicable if it is established that obtaining that duty benefit was the principal purpose of any transaction or arrangement.

Mauritius has been a preferred jurisdiction for investments in India due to the non-taxability of capital gains from the sale of shares in Indian companies until 2016. The treaty was last amended in May 2016 allowing the right to tax capital gains arising from sale or transfer of shares of an Indian company acquired by a Mauritian tax resident.

The DTAA was a major reason for a large number of foreign portfolio investors (FPI) and foreign entities to route their investments in India through Mauritius. Mauritius remains India’s fourth largest source of FPI investments, after the US, Singapore, and Luxembourg.

A Double Taxation Avoidance Agreement (DTAA) is a pact signed by two nations that encourages capital investment, trade in goods and services, and other economic activities between the two nations by preventing International Double Taxation.

NIIF invests $200 million in Ibus to boost digital infrastructure in India

The National Investment and Infrastructure Fund (NIIF) on Wednesday announced a USD 200 million (about Rs 1,660 crore) investment in digital infrastructure player Ibus Network and Infrastructure. Ibus will be deploying the funds to scale operations organically by expanding its capacities and for inorganic growth.

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