26 April 2024 Current Affairs in English

26 April 2024 Current Affairs

26 April 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 26 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 26 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.

26th April Daily Current Affairs 2024

26 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 26 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 Intellectual Property Day 2024

The World Intellectual Property Day (WIPD) is celebrated annually on April 26th to raise awareness about the role of intellectual property (IP) in encouraging innovation and creativity for a better future.

The official theme for World Intellectual Property Day 2024 is ‘IP and the SDGs: Building Our Common Future with Innovation and Creativity‘. FICCI is commemorating World IP Day 2024 with a run-up event on WIPO’s theme for this year’s IP Day celebrations. Read the complete article here.

International Chernobyl Disaster Remembrance Day 2024

Every April 26, we pause to reflect on the Chernobyl disaster. This day reminds us of the tragic events at the Chernobyl Nuclear Power Plant, also known as the Vladimir Lenin Nuclear Power Plant. A malfunction during a test led to the release of radioactive material, making parts of Russia, Ukraine, and Belarus unsafe, and a zone around the plant uninhabitable. In this article, we’ll explore the history of what happened and why International Chernobyl Disaster Remembrance Day is significant. Read the complete article here.

Indian Historical Records Commission (IHRC) Adopts a New Logo and Motto

The Indian Historical Records Commission (IHRC), an apex advisory body on archival matters, acts as an all-India forum of creators, custodians, and users of records to advise the Government of India on the management of records and their use for historical research. Established in 1919, the IHRC is headed by the Union Minister of Culture.

The logo signifies the theme and uniqueness of IHRC entirely. The pages in the shape of lotus petals represent IHRC as the resilient nodal institution for maintaining historical records. The Sarnath pillar in the middle represents India’s glorious past. Brown as the color theme reinforces the organization’s mission of preserving, studying, and honoring India’s history.

The motto translates as “Where history is preserved for the future.”

REC Limited avails SACE-Covered Green Loan for ~ 60.5 Billion Japanese Yen

In a significant step towards sustainable development in India, REC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, has successfully availed a Green Loan of Japanese Yen (JPY) 60.536 billion to finance eligible green projects in India.

The green loan facility benefits from an 80% guarantee by the Italian Export Credit Agency, SACE (Italy) under their innovative Push Strategy program. The arrangement between SACE and REC is a breakthrough and a first-of-its-kind collaboration between an Indian government entity and SACE.

The green loan facility sets a benchmark in the Indian public sector landscape, for similar green financing transactions, highlighting a growing commitment to sustainable financing. The facility also marks SACE’s first JPY-denominated loan transaction and first green loan transaction in India.

The loan has loan participation from banks across Asia, the USA, and Europe, namely Crédit Agricole Corporate and Investment Bank, Bank of America, Citibank, KfW IPEX-Bank & Sumitomo Mitsui Banking Corporation as Mandated Lead Arrangers. Crédit Agricole Corporate and Investment Bank would be acting as the Export Credit Agency Coordinator, Green Loan Coordinator & Documentation bank.

NABARD Unveils Climate Strategy 2030

NABARD unveiled its Climate Strategy 2030 document on the occasion of Earth Day. The comprehensive strategy aims to address India’s escalating need for green financing. Despite the pressing demand, where India requires approximately $170 billion annually to reach a cumulative total of over $2.5 trillion by 2030, current green finance inflows are critically insufficient.

NABARD’s Climate Strategy 2030 is structured around four key pillars to address this demand: (i) Accelerating Green Lending across sectors, (ii) Playing a broader Market-Making Role (iii) Internal Green Transformation of NABARD, and (iv) Strategic Resource Mobilization.

AU SFB launches multiple products like credit cards with exclusive features

In a bid to increase fee income, AU Small Finance Bank (AU SFB) launched an array of products including Rupay credit card and ATM insurance.

Among the latest offerings are two innovative credit cards: the AU SPONT Rupay Credit Card and Secured Credit Card – NOMO (No Missing Out), developed in collaboration with NPCI and VISA, respectively.

First time in the Indian banking industry, AU SFB has launched ATM Insurance, for the convenience of customers to buy insurance through AU SFB’s ATMs with their debit card. AU SFB has also launched WhatsApp Insurance where customers will get a policy instantly using the WhatsApp platform.

SJVN sets milestone with Inauguration of First Multi-purpose Green Hydrogen Pilot Project of the Nation

SJVN Limited has achieved a significant milestone with the inauguration of India’s first Multi-purpose Green Hydrogen Pilot Project at SJVN’s 1,500 MW Nathpa Jhakri Hydro Power Station in Jhakri, Himachal Pradesh. The green hydrogen produced from the project will be utilized for the High Velocity Oxygen Fuel Coating Facility of NJHPS to meet its combustion fuel requirements

The first Multi-purpose (Combined Heat & Power) Green Hydrogen Generation Plant of the nation has been inaugurated by Chairperson and Managing Director, Smt. Geeta Kapur on April 24, 2024. The state-of-the-art Green Hydrogen Pilot Project is set to produce 14 kilograms of Green Hydrogen daily during 8 hours of operation.

Arun Alagappan appointed as executive chairman of Coromandel International

Agricultural solutions major Coromandel International, a part of Chennai-based Murugappa Group, has appointed Arun Alagappan as the company’s executive chairman. Alagappan has been the executive vice chairman of the company since February 2021. His appointment comes as A. Vellayan retires as chairman and non-executive director.

FSIB recommends Ashutosh Kumar for SBI MD, Asheesh Pandey for Indian Bank

FSIB, the headhunter for directors of state-owned banks and financial institutions, recommended Rana Ashutosh Kumar Singh for the post of Managing Director of State Bank of India. Singh is currently serving as deputy managing director at SBI. The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by the Prime Minister.

FSIB also recommended Asheesh Pandey for the post of Managing Director of Chennai-based Indian Bank. Pandey, who is currently serving as executive director of Bank of Maharashtra, will replace S L Jain on his superannuation. FSIB is headed by former Department of Personnel and Training (DoPT) Secretary Bhanu Pratap Sharma.

RBI directs Talkcharge to stop PPI, and wallet issuance; refund balances

The Reserve Bank of India (RBI) has directed fintech firm Talkcharge Technologies to stop issuing and operating its Prepaid Payment Instruments (PPIs) or wallets and refunding the balances held in them to customers by May 17 this year. This has come after the central bank observed that the firm is issuing wallets without its permission.

The RBI had directed the Gurugram-based firm to refund the prepaid amount lying in the wallets to the customers in an order dated April 2, 2024.

The regulator also pointed out that the company had issued a legal notice to its customers demanding the return of cashback while threatening them that failure to do so would result in the matter being reported to the RBI.

Crisil’s ESG ratings unit gets SEBI’s approval for ESG scoring

The Securities and Exchange Board of India (SEBI) has approved Crisil ESG Ratings & Analytics as a Category 1 provider of environmental, social, and governance (ESG) ratings. Crisil ESG Ratings, a unit of Crisil, was incorporated after SEBI amended the SEBI (Credit Rating Agencies) Regulations, 1999, to include provisions on ESG Rating Providers (ERPs) last year.

The rating provider launched its ESG scoring business in 2021 and now tracks over 1,000 companies across 65 sectors. The company said this business will now be transferred to the subsidiary Crisil ESG Ratings. ESG scores indicate a company’s sustainability and ethical practices, guiding asset managers and investors in selecting companies that meet their ESG criteria.

Sebi has established two rating entity categories based on their financial status and roles. The goal was to guarantee transparent, practical, accurate methodologies aligned with the Indian environment. As per SEBI, the accredited rating agency is required to publish its evaluation methodology for all ESG ratings on its official website.

Besides, the principal shareholder of an ESG rating agency is mandated to retain a minimum ownership interest of 26% in said agency for at least five years after receiving regulatory approval.

Indian Bank ties up with Tata Power Solar to boost solar energy adoption

Tata Power Solar Systems, announced its strategic partnership with the Indian Bank to bolster the adoption of solar rooftops among residential consumers. The collaboration aims to facilitate financing solutions under the popular PM Surya Ghar Muft Bijli Yojana scheme for installations up to 3 KW, as well as extend support for installations ranging from 3 to 10 KW under the scheme.

Under the framework of the PMSGMY initiative, residential consumers can avail of loans up to Rs 2 lakh at an annual interest rate of 7%, in compliance with government regulations. With a nominal margin money requirement of 10% and collateral-free financing, homeowners can embark on their solar journey with ease. Furthermore, the tenure for repayment extends up to 10 years.

For installations exceeding 3 KW up to 10 KW, TPSSL, and Indian Bank present a tailored financing solution that accommodates the diverse needs of homeowners. Eligible applicants can access loans up to Rs 6 Lakh, with a margin money requirement of 20%. Interest rates ranging from 8.4% to 10.8% per annum ensure competitive financing options.

Reliance Jio becomes world’s largest mobile operator in data traffic

Reliance Jio has become the world’s largest mobile operator in data traffic consumption, surpassing China Mobile. According to global analytics firm Tefficient, the Indian telecom operator’s total traffic reached 40.9 exabytes in the January-March quarter, compared to China Mobile’s 38. Jio also has the second-largest 5G subscriber base globally, with 108 million users.

Karnataka, Gujarat exhibit a strong commitment to clean energy transition

The 2024 Indian States’ Electricity Transition (SET), a joint report by the Institute for Energy Economics and Financial Analysis (IEEFA) and Ember, reveals that both the states (Karnataka and Gujarat) are making big strides in decarbonization and are adequately prepared to accelerate the transition with robust market enablers facilitating future growth.

States such as Kerala, Haryana, Andhra Pradesh, Punjab, Himachal Pradesh, and Maharashtra showed strong progress in one or more of the three dimensions — Decarbonisation, Readiness, and Performance of the Power Ecosystem and Market Enablers. Odisha exhibits preparedness to embrace the electricity transition through the readiness of its market enablers.

Jharkhand, Bihar, West Bengal, and Uttar Pradesh moved slower than others again in SET 2024, despite the changes to our assessment parameters. The first edition of the SET report in 2023 analyzed 16 states to help identify areas that require action and attention at the state level. This year’s report builds on that work by expanding the scope to 21 states.

Saurav Ghosal Retires from Professional Squash at 37

Indian squash player Saurav Ghosal announced his retirement from professional squash on Monday. During his career, Ghosal won 12 Professional Squash Association (PSA) titles and multiple medals at the Commonwealth Games (CWG) and Asian Games.

The 37-year-old was also a former top 10 athlete in world squash rankings, reaching the level in April 2019 and staying there for six months. He is also the only Indian man to enter the top 10 in the World rankings. The nine-time Asian Games medallist played a significant role in leading India to gold medals in the team’s event at the 2014 and 2022 editions of the Asian Games.

Ghosal has to his name 13 national titles, and three CWG medals. He also became the first Indian male player to secure a CWG squash medal in a singles competition at the same event.

He has also won the World Doubles Championships gold medal after partnering compatriot Dipika Pallikal Karthik in the mixed event at the 2022 Glasgow competition.

IndusInd Bank successfully executes RBI’s programmable CBDC pilot

IndusInd Bank announced the successful execution of the Reserve Bank of India’s programmable Central Bank Digital Currency pilot, marking the first such instance by any bank. It is done in collaboration with Circularity Innovation Hub India Private Limited and involves an alternate form of CBDC wherein the bank can program the end use of funds, specifically targeting farmers.

As a part of this pilot, IndusInd Bank initiated the programmable CBDC disbursement to 50 farmers in Ratnagiri district of Maharashtra and will cover around 1,000 farmers going ahead, marking a milestone in the adoption of innovative financial solutions for the agriculture sector.

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