5 April 2024 Current Affairs in English

5 April 2024 Current Affairs

5 April 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 5 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 5 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.

5th April Daily Current Affairs 2024

5 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 5 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.

National Maritime Day 2024

India celebrates its National Maritime Day on April 5th, 2024. This day commemorates the inaugural voyage of the SS Loyalty, the first Indian-owned ship, from Mumbai to London in 1919.

The theme for National Maritime Day in India is “Navigating the Future: Safety First!“. It was announced by the Ministry of Shipping. Read the complete article here.

International Day of Conscience 2024

Each year on 5 April, the International Day of Conscience is celebrated. The United Nations established this day to draw attention to the importance of self-examination and acting morally. The day also offers an opportunity to reflect on the progress made in promoting peace and social justice and to identify areas where more work needs to be done.

This year, the International Day of Conscience is marked with the theme “Promoting the Culture of Peace with Love and Conscience.”

Army Medical Corps celebrates 260th Raising Day

Army Medical Corps celebrated its 260th Raising Day on 03rd April 2024. Raised in the year 1764, the Corps has rendered selfless service to the nation over centuries of progress, development, dedication & sacrifice, both in combat and in peace, living up to the Corps motto of ‘Sarve Santu Niramaya’ meaning ‘let all be free from disease’.

BEML and BEL join hands to develop an indigenous train control management system

Bharat Earth Movers Limited (BEML) and Bharat Electronics Limited (BEL) have signed a memorandum of understanding (MoU) to jointly develop an indigenous Train Control Management System (i-TCMS), aimed at what they called “revolutionizing” rail communication technology in the country.

The primary objective of this partnership is to identify potential areas of cooperation between BEML and BEL, with a focus on exploring the joint development of high-value products and solutions tailored to the requirements of Indian Railways and Metro systems, it said.

RBI defers implementing rules on exchange-traded forex derivatives to May 3

The Reserve Bank of India (RBI) deferred the implementation of norms on exchange-traded currency derivatives (ETCDs) linked to the Indian rupee until May 3 following concerns by investors. The norms were scheduled to take effect starting 5 April. Now, rupee-denominated currency contracts traded on the National Stock Exchange (NSE) and the BSE require underlying exposure.

Though traders are not required to provide evidence of underlying exposure for positions up to$100million, they must confirm the existence of such exposure. As hitherto, participants with a valid underlying contracted exposure can continue to enter into ETCDs involving the rupee up to a limit of$100million without having to produce documentary evidence of the underlying exposure.

As per RBI the regulatory framework for participation in ETCDs involving the rupee is guided by the provisions of the Foreign Exchange Management Act,1999, and regulations framed thereunder, which mandate that currency derivative contracts involving the rupee “both over-the-counter and exchange-traded “are permitted only for hedging of exposure to foreign exchange.

Bandhan Mutual Fund announces the launch of the Bandhan Innovation Fund

Bandhan Mutual Fund (MF) announced the launch of the Bandhan Innovation Fund. The scheme will open for subscription on April 10 and will invest in companies with substantial R&D investment, high skilled-employee costs, potentially higher margins or growth, unique products or services, non-linear business models, and a notable brand presence.

“The fund will allocate its investments across a spectrum of innovators: 35-45% to leading innovators with substantial industry R&D investments; 35-45% to rising innovators utilizing innovation for a competitive edge; and 10-15% to emerging innovators,” the fund house said in a release.

Rakesh Mohan was appointed a member of the World Bank economic advisory panel

According to a statement released by the New Delhi-based think tank Center for Social and Economic Progress, the World Bank Group has appointed former RBI deputy governor Rakesh Mohan member of the Economic Advisory Panel. Currently, Mohan is serving as president emeritus and distinguished fellow at CSEP and is also a part-time member of the PM Economic Advisory Council.

The World Bank panel will be chaired by Lord Nicholas Stern, the IG Patel Professor of Economics and Government at the London School of Economics, while World Bank Group Chief Economist Indermit Gill will co-chair the panel.

India to lose 5.8% of daily working hours amid heat stress in 2030: UNESCAP

India is expected to lose around 5.8% of daily working hours due to rising temperatures by 2030, leading to erosion in productivity and lower collection of fiscal revenue, according to a recent report released by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).

The report also mentions that climate change will contribute to the spread of disease, leading to lower government revenues and higher spending requirements as fiscal expenditure is required for mitigating such adverse effects and building resilience. The report also notes that the Asia and Pacific region, including India, is home to 600 million youth aged between 15-24 years.

Xcelerat acquired stakeholder communications consultancy Stirrup Communication

Xcelerate, a Singapore-based GRC and ESG investment platform, has acquired a strategic equity stake in Stirrup Communication, India’s leading stakeholder communications consultancy, for an undisclosed amount, sources familiar with the transaction said. Stirrup Communication, boasts a current clientele of more than 250, ranging from the Tata Group to the Birla Group.

Founder of Stirrup: – Arvind Agrawal

Future Generali India Insurance appoints Ramit Goyal as chief distribution officer

Future Generali India Insurance Co (FGII) has elevated Ramit Goyal as its chief distribution officer with effect from April 1. Goyal takes over from Raghavendra Rao, who superannuated on March 31 after 14 years of service, the company said in a statement. Earlier, Goyal held key roles in other companies including Tata AIG, Godrej & Boyce, and Daewoo Anchor Electronics.

J&K Bank joins hand with Paymart India to unveil Virtual ATM Facility

J&K Bank partners with Paymart India Pvt Ltd to launch an innovative Virtual ATM (VATM) facility, boosting consumer banking convenience across its operations, particularly in J&K and Ladakh. The collaboration aims to introduce cardless cash withdrawals for the Bank’s customers through local retailers. Baldev Prakash is the MD & CEO of J&K Bank.

Amit Narang, CEO, Paymart
General Manager (S&IT) Imtiyaz Ahmad Bhat

RBI To Announce First Bi-Monthly Monetary Policy For Financial Year 2024-25

The Reserve Bank of India (RBI) will announce its first Bi-Monthly Monetary Policy of the Financial Year 2024-25 on April 5. The Reserve Bank Governor Shaktikanta Das headed the Monetary Policy Committee (MPC) which began its three-day deliberation on 3 April. The decision taken at the MPC meeting will be announced today.

A total of six MPC meetings are scheduled for the year 2024-25 that began on the 1st of April. Economists expect that the central bank would once again keep the key interest rate unchanged and focus more on inflation control. The last time, the RBI hiked the repo rate to 6.5% was in February 2023 and since then it has held the rate at the same level in its last policies.

Securitisation volumes for FY24 grows 4% to ₹1.88-lakh crore: ICRA

The overall securitization volumes for FY24 grew 4% year-on-year (y-o-y) to ₹1.88-lakh crore despite the exit of the previous year’s largest originator — HDFC, following its merger with HDFC Bank, according to ICRA. The securitization volumes are projected to comfortably cross ₹2-lakh crore in FY25 due to an increase in participation by banks as originators.

The rating agency noted that securitization volumes in Q4 (January-March) FY24 witnessed a healthy growth of 26% over the preceding quarter, rising to ₹48,000 crores. ICRA assessed that the share of pass-through certificates (PTCs) rose to 57% of the market for FY24 against 40% observed in the past couple of years, mainly due to the exit of HDFC.

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