17 April 2024 Current Affairs
17 April 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 17 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 17 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.
17th April Daily Current Affairs 2024
17 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 17 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 Hemophilia Day 2024
Every year on April 17, we observe World Hemophilia Day, a special day for people dealing with hemophilia. This day is all about making more people aware of hemophilia, helping those who have it, and working towards a better future for them.
The theme for World Hemophilia Day 2024 is “Equitable access for all: recognizing all bleeding disorders.” Read the complete article here.
IMF Raises India’s GDP Growth Projection to 6.8% for FY 2024-25
The International Monetary Fund, raised India’s Gross Domestic Product (GDP) growth projection to 6.8% for the financial year (FY) 2024-25. In its update to the World Economic Outlook, the IMF has raised 30 basis points from its January forecast of 6.5%.
In its report, the IMF said that growth in India is projected to remain strong at 6.8% in FY 2024-25, and 6.5% in FY 2025-26 with the robustness reflecting continuing strength in domestic demand and a rising working-age population. It also said that the Global growth, estimated at 3.2% in 2023, is projected to continue at the same pace in FY 2024-25 and FY 2025-26.
NaBFID posts net profit of Rs 1,601 cr in FY24; loans stood at Rs 35,342 cr
The National Bank for Financing Infrastructure and Development reported a net profit of Rs 1,601.64 crore for the financial year ended March 2024 (FY24), up from Rs 1,046.39 crore in FY23. The year gone by (FY24) was the first full year of its business operations.
The government-owned lender’s total income grew to Rs 3,083.97 crore in FY24, up from Rs 1,127.06 cr in FY23.
The Government of India (GOI) set up NaBFID in April 2021 as India’s fifth All India Financial Institution in the country to support the development of long-term non-recourse infrastructure financing in India. The authorized share capital of the Institution is ₹1 lakh crore, and GOI has already infused an initial capital of ₹20,000 crores along with a grant of ₹5,000 crores.
India’s outward FDI rises to $3.91 billion in March, shows RBI data
India’s outward foreign direct investment commitments rose significantly to $3.91 billion in March 2024, compared to $2.63 billion in March 2023. Sequentially, they were also higher than $3.67 billion in February 2024, according to Reserve Bank of India data. Outbound FDI expressed as a financial commitment, comprises three components: equity, loans, and guarantees.
RBI issues draft norms for offline payment aggregators, moots ₹15-cr net worth
Reserve Bank of India has issued two draft directions on the regulation of Payment Aggregators (PA), about physical Point-of-Sale (PoS) activities of these players, net worth, and licensing requirements. The payments ecosystem in India includes online PAs (PA – O) and those that facilitate face-to-face or proximity payment transactions ((PA – P).
The draft guidelines mandate PA-P banks to comply with the final norms within three months of issue whereas non-bank entities providing PA-P services will need to inform RBI about their intention to seek authorization within 60 days of the circular being issued and submit an application by May 2025.
Non-banks providing PA-P services will need a minimum net worth of ₹15 crore at the time of application and a minimum net worth of ₹25 crore by March 31, 2028. It also said that for face-to-face/proximity payment transactions done using cards, shall store the card-on-file data from August 1, 2025.
BharatPe elevates Nalin Negi as CEO
Fintech firm BharatPe said it has elevated its interim CEO and chief financial officer Nalin Negi to full-time chief executive officer.
Negi was given charge of interim CEO in January 2023 after then-CEO Suhail Sameer stepped down from the post. Negi joined BharatPe in 2022.
Fitch affirms ‘BBB-‘ rating for SBI, Canara Bank; outlook stable
Fitch Ratings affirmed the long-term Issuer Default Rating (IDR) of both State Bank of India (SBI) and Canara Bank at ‘BBB-‘ and said the outlook looks stable. Fitch has also affirmed SBI’s Viability Rating (VR) at ‘BB’ and Government Support Rating (GSR) of ‘BBB’-. The PSU bank stock was trading 1% lower at Rs 749.
The IDR rating of BBB- denotes that the banks have adequate capacity for payment of financial commitments. Fitch has projected bright profitability prospects for both lenders.
Kannada poet Mamta G. Sagar wins international award
Mamta G. Sagar, a Bengaluru-based Kannada poet, writer, academic, and activist, has recently won the World Literary Prize from the World Organization of Writers (WOW) for her contributions to the world of literature. Dr Sagar is a facilitator at the Srishti Manipal Institute of Art, Design, and Technology.
She is known for her involvement in diverse forms of transdisciplinary creative writing and cultural industries and received the award on April 6 at a ceremony in Abuja, Nigeria.
Georgieva selected for a second term as IMF managing director
The International Monetary Fund’s executive board on Friday selected Bulgarian economist Kristalina Georgieva to serve as managing director for a second five-year term, starting on Oct. 1, 2024. Georgieva is the second woman to head the IMF and the first person from an emerging market economy. She is the IMF’s 12th managing director since its founding in 1944.
Elon Musk-led Tesla signs strategic deal with Tata Electronics for semiconductor chips
Elon Musk-led Tesla has reportedly inked a strategic deal with Tata Electronics to acquire semiconductor chips for its global operations. This move highlights Tesla’s growing interest in India beyond local revenue generation. Tesla, the world’s largest automotive company by market value, is keen to expand its footprint in India.
Delhi Airport Among the Top 10 Busiest Airports In the World
The Delhi airport, also known as Indra Gandhi International (IGI) airport has been ranked among the top 10 busiest airports across the globe for 2023. The Hartsfield-Jackson Atlanta International Airport topped the list followed by Dubai and Dallas airports at the second and third position, according to the ranks prepared by Airports Council International (ACI) World.
Among the top ten busiest airports five are alone from the US. The biggest jump in the top 10 rankings was recorded for Tokyo Haneda, leaping from the 16th position in 2022 to the 5th spot in 2023.
Jana Small Finance Bank partners with Kotak Mahindra Life to offer insurance products
Jana Small Finance Bank said it has partnered with Kotak Mahindra Life Insurance Company Ltd to offer life insurance products to the customers of the bank. The partnership will help 52 lakh customers of the bank with a wide range of life insurance products offered by Kotak Life, including long-term savings and retirement solutions
RBI now allows gold hedging in overseas markets
The RBI has decided to permit resident entities to hedge exposure to price risk of gold using OTC derivatives in the IFSC, in addition to the derivatives on exchanges in the IFSC. The banking regulator issued a circular on April 15 in this regard. This is to provide further flexibility to resident entities to hedge their exposures to the price risk of gold.
Earlier, resident entities were permitted to hedge their exposure to the price risk of gold on exchanges in the International Financial Services Centre (IFSC) recognized by the International Financial Services Centres Authority (IFSCA).
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