Daily Current Affairs 13 April 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE  

Asian Development Bank Upgrades India’s FY25 GDP Growth Projection to 7% Due to Strong Investment and Consumer Demand

• The Asian Development Bank (ADB) has revised its Gross domestic product (GDP)growth forecast for India, raising it to 7% for the current fiscal year (2023-24) from its previous projection of 6.7%.
• According to the ADB’s April, 2024 edition of the Asian Development Outlook,the robust growth will be driven by strong public and private sector investment demand, as well as a gradual improvement in consumer demand.
• However, the growth estimate for the 2024-25 fiscal year is lower than the 7.6% projected for 2022-23.

Key Highlights :

• Future Growth Projections : For the 2025-26 fiscal year, the ADB has projected India’s growth at 7.2%.
• Inflation Trends : With inflation moderating to 4.6% in FY25and easing further to 4.5% in FY26, monetary policy may become less restrictive, which will facilitate rapid offtake of bank credit.
• Regional Growth Outlook: Developing economies in Asia and the Pacific are expected to grow by 4.9% on average in the current year, driven by robust domestic demand, improving semiconductor exports, and recovering tourism.
• Inflation Trends in Asia-Pacific: Inflation in developing Asia-Pacific economies is projected to decline to 3.2% this year and further to 3.0% next year, attributed to easing global price pressures and tight monetary policy in many economies.
• Alignment with RBI’s Projections:ADB’s growth forecast for FY 24-25 aligns with the projections made by the Reserve Bank of India (RBI).
• The RBI expects GDP growth of 7% in FY 23-24,driven by factors such as a normal monsoon, moderating inflation, and sustained momentum in manufacturing and services sectors.

About ADB : 

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and 19 non-regional members (countries outside the region)

State Bank of India and ICICI Likely to Serve as third-party liaisons for European banks                             

• State Bank of India (SBI) and ICICI Bank, two of India’s top three lenders, are expected to serve as local intermediaries for European banks seeking third-party clearing services.
• This arrangement follows a meeting between top officials from the Reserve Bank of India (RBI) and certain European banks.
• Background of ESMA Decision:The proposal for local banks to conduct third-party clearing for European banks stems from the European Securities and Markets Authority’s (ESMA) decision in October 2022 to de-recognize the Clearing Corporation of India (CCIL).
• This decision came after the RBI declined to grant the foreign body rights of inspection and audit over the CCIL, which hosts the trading platform and provides guaranteed settlement for Indian government bonds and interest rate derivatives.

Key Highlights :

• Deadline for Foreign Banks: Foreign banks have until October 2024to discontinue transactions with the CCIL due to the ESMA’s de-recognition.
• European Banks Affected:The ESMA’s decision impacts 4 European banks: Credit Agricole, Societe Generale, Deutsche Bank, and BNP Paribas.
• These banks engage in significant trade volumes of Indian government bonds and derivatives, with some involved in custody operations for foreign flows into local markets.
• New Model for Clearing:“Under the new model, the foreign banks can be clients of SBI or ICICI when it comes to clearing of bond trades but there is the issue of how the foreign banks will treat SGL (Subsidiary General Ledger) and CSGL (Constituent Subsidiary General Ledger) accounts.
• CSGL accounts are used when bonds are held by a bank via entities like primary dealers or other banks,but SGL accounts are needed by banks for maintenance of reserve requirements like Cash Reserve Ratio and Statutory Liquidity Ratio.

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara
• CFO : Kameshwar Rao Kodavanti

About ICICI Bank :

• Founded : 5 January 1994
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Sandeep Bakhshi

Jana Small Finance Bank Collaborates with Kotak Mahindra Life to Provide Insurance Products              

• Jana Small Finance Bank has partnered with Kotak Mahindra Life Insurance Company Limited to offer life insurance products to the customers of the bank.
• The partnership will help 52 lakh customers of the bankwith a wide range of life insurance products offered by Kotak Life, including long-term savings and retirement solutions

About Jana Small Finance Bank :

• Commenced operations : March 28, 2018
• Headquarters : Bangalore,Karnataka India
• CEO: Ajay Kanwal

About Kotak Mahindra Life Insurance Company Limited :

• Established  : 2001
• Kotak Mahindra Life Insurance Company Limited is a privately held life insurance company based in India.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Lindy Cameron, U.K. Cyber Security Chief, Appointed as Next High Commissioner to India     

• Lindy Cameron,the former Chief Executive Officer (CEO) of the United Kingdom’s (UK’s) National Cyber Security Centre, will take over as the country’s first-ever woman high commissioner to India.
• Cameron will be succeeding Alex Ellis, who served nearly 3 years between 2021 and 2024 and oversaw the commencement of trade talks between India and the UK.
• Cameron’s new role begins as New Delhi and London are resetting their bilateral relationship, which was marked, in part, by External Affairs Minister S. Jaishankar’s visit to London in November 2023.
• Cameron’s appointment comes 70 years after India appointed Vijaylakshmi Pandit as its high commissioner in London in 1954.
• The sister of India’s first Prime Minister Jawaharlal Nehru, Pandit served in that capacity until 1961.

About Lindy Cameron :

• Cameron served as Director General for the Northern Ireland Office from 2019-2020.
• She has also held director-level roles overseeing operations of the Department for International Development’s (DFID) in West Asia, North Africa, as well as the department’s conflict and security divisions.
• She also worked in Helmand, Afghanistan, in 2009-10, leading a provincial reconstruction team, as per her official résumé.
• She served as the Director of Middle East, Humanitarian, Conflict, and Securityat DFID from 2014 to 2015, contributing to critical interventions in areas affected by instability and crisis.
• Her current office , which oversees theK.’s cyber security environment, is a subsidiary of GCHQ (Government Communications Headquarters), the British government’s intelligence centre.
• She served as the Chief Executive of the National Cyber Security Centrefrom 2020 to 2024, where she played a pivotal role in enhancing the UK’s cybersecurity infrastructure and resilience.
• India is the UK’s 12th-largest trade partner, highlighting the significance of bilateral economic ties between the two countries.

Financial Services Institutions Bureau Selects Manoj Mittal from IFCI as Next Small Industries Development Bank of India Chief       

• Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, has recommended the name of IFCI Limited (previously Industrial Finance Corporation of India) Managing Director (MD) Manoj Mittalas Small Industries Development Bank of India (SIDBI) Chairman and Managing Director (CMD).
• He will replace Sivasubramanian Ramann as SIDBI CMD.
• Ramann had joined SIDBI, the principal financial institution for MSMEsin India, in April 2021 for a 3-year period.

About Manoj Mittal :

• Mittal earlier worked as a Deputy Managing Director at SIDBI from 2016-2021.
• He was closely involved in the development of SIDBI Vision 2.0 and its successful implementation to emerge as a financially stronger impact institution.

About SIDBI :

• Established : 2 April 1990
• Headquarters : Lucknow, Uttar Pradesh, India
• The SIDBI is the apex regulatory bodyfor overall licensing and regulation of micro, small and medium enterprise finance companies in India.
• It is under the jurisdiction of the Ministry of Finance , Government of India (GoI).

About FSIB :

• Came into effect : 01st July 2022, replacing Banks Board Bureau (BBB).
• Headquarters : Mumbai, Maharashtra
• FSIB is headed by the former secretary of the Department of Personnel and Training (DoPT), Bhanu Pratap Sharma.
• FSIB which recommends persons for appointment as directors and non-executive chairpersons at state-owned banks and financial institutions

Suryoday Small Finance Bank Appoints Deepak Kumar Sharma as Additional Director                       

• The Board of Directors of Suryoday Small Finance Bankhave appointed Deepak Kumar Sharma as an Additional Director (under the Independent category) on the Board of the Bank, with effect from April 11, 2024.
• Sharma’s appointment is based on the recommendation of the Nomination and Remuneration Committee and is subject to the approval of the bank’s shareholders.
• Sharma’s tenure as an Additional Director is set for a period of 5 consecutive years.

About Deepak Kumar Sharma :

• Deepak Kumar Sharma brings nearly 3 decades of experience with a proven track record in building successful ventures within the banking, telecom, and service sectors.
• Prior to joining Suryoday Small Finance Bank, Sharma worked atKotak Mahindra Bank (KMB) for over 15 years until October 2023.
• During his tenure at KMB, he played a pivotal role in initiating and scaling digital initiatives, serving as the bank’s first President & Chief Digital Officer for over 5 years.

About Suryoday Small Finance Bank :

• Established : 2017
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Baskar Babu Ramachandran

Ashish Chauhan, CEO of NSE, and Zoho Founder Sridhar Vembu Appointed as UGC Members for 3-Year Term  

• The central government has appointed Ashish Kumar Chauhan, Chief Executive Officer (CEO) and Managing Director of the National Stock Exchange (NSE), and Sridhar Vembu, Founder of Zoho, as members of the University Grants Commission (UGC),India’s regulator for higher education, taking the body’s strength to 8 members from just 4 .
• The Department of Higher Education in the Education Ministryalso appointed Sachidananda Mohanty, former vice chancellor of the Central University of Odisha and serving vice chancellor of the National Institute of Educational Planning and Administration Shashikala Gulabrao Wanjari to the Commission, with a tenure of 3 years, or till further orders.

Key Highlights :

• Composition of UGC:As per the UGC Act of 1956, the Commission can have ten members, in addition to the Chairman and Vice Chairman.
• Currently, the Chairman is Mamidala Jagadesh Kumar and the Vice Chairman is Deepak Kumar Srivastava.
• The remaining 8 members include two central government officials and individuals with expertise in various fields.
• These roles are occupied by Higher Education Secretary Sanjay Murthy and Additional Secretary in the Expenditure Department of the Finance Ministry, Sanjay Prasad.
• Requirement for Members:The UGC Act mandates that at least 4 members must be individuals actively teaching at universities during their selection process.
• Additionally, the remaining 4 members should possess expertise or experience in fields such as agriculture, commerce, forestry, industry, engineering, law, medicine, or other learned professions.
• This includes eminent educationists or individuals with high academic distinctions.

About Chauhan & Vembu :

• Chauhan, apart from being the NSE CEO and MD, is also a Chancellor of the University of Allahabad.
• Vembu has a doctorate in electrical engineering from Princeton University and is the founder and CEO at Zoho, a cloud-based business software firm.

About UGC :

• Established : 28 December 1956
• Headquarters : New Delhi, Delhi
• The UGC is a statutory body under the Department of Higher Education, Ministry of Education, Government of India.

National Investment & Infrastructure Fund appoints rajiv dhar as 1st chief investment officer      

• India’s National Investment & Infrastructure Fund (NIIF), supported by the federal government, will appoint Rajiv Dhar to the newly created position of Chief Investment Officer (CIO).
• This appointment reflects NIIF’s commitment to strengthening investment decisions and enhancing oversight on deals.
• In his new role, Rajiv Dhar will serve as a voting member on the investment committee and valuation panelfor all funds managed by NIIF.

About Rajiv Dhar :

• Rajiv Dhar has been associated with NIIF since 2017.
• Initially serving as Executive Director and Chief Operating Officer, he assumed the role of Interim CEO and Managing Director in May 2023, following Sujoy Bose’s departure from the position.

About NIIF :

• Founded : February 2015
• Headquarters : Mumbai, Maharashtra, India
• The NIIFL is an Government owned company which maintains infrastructure investments funds for international and Indian investors anchored by the Government of India.
• NIIF is 49% owned by the Indian governmentand has more than $4.9 billion in assets under management, making it the country’s biggest infrastructure fund.
• The fund’s backers also include Abu Dhabi Investment Authority and Canada Pension Plan Investment Board.

RBL Bank Appoints Murali Ramakrishnan as Independent Director for 4-Year Term                 

• Private sector lender RBL Bank formerly known as Ratnakar Bank Limitedappointed Murali Ramakrishnan as Non-Executive Independent Director with immediate effect for 4 years.

About Murali Ramakrishnan :

• Ramakrishnan has 37 years of experience in the Banking and Financial Service Industry (BFSI) sector.
• He headed various businesses and control functions at ICICI Bank Ltd for over two decades.
• From March 2012 to August 2016, Ramakrishnan was the Head of North Asia, Sri Lanka, Middle East & Africa at ICICI Bank.
• He joined South Indian Bank as an Advisor on July 1, 2020, and was appointed as Managing Director & CEO of the Bank on October 1, 2020, until September 2023.

About RBL Bank :

• Established : August 1943
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : R Subramaniakumar

CURRENT AFFAIRS: NATIONAL NEWS

The President of India has inaugurated a Homoeopathy Symposium on the occasion of World Homoeopathy Day.

• The President of India, Smt. Droupadi Murmu, inaugurated a two-day Homoeopathy Symposium in New Delhion World Homoeopathy Day (April 10, 2024).
• The Central Council for Research in Homoeopathy organized the symposium under the theme “Empowering Research, Enhancing Proficiency,”which is highly relevant to the 21st century.
• Research and proficiency will play a crucial role in increasing the acceptance and popularity of Homoeopathy.
• Authentic medical research, backed by facts and analysis, is necessary to recognize the experiences of people who have benefited from Homoeopathy.
• Encouraging scientific rigor will further increase people’s confidence in this medical system.

Tata Advanced Systems Ltd. launches India’s 1st privately-built sub-metre resolution surveillance satellite

• Tata Advanced Systems Ltd(TASL) and Satellogic have jointly launched TSAT-1A, India’s first sub-metre resolution earth observation satellite built entirely by the private sector.
• The satellite was launched on April 7th on Elon Musk’s SpaceX Falcon 9 rocket from Kennedy Space Center, Florida.
• TASL assembled the satellite at their facility in Vemagal, Karnataka.
• TSAT-1Aoffers high-resolution optical satellite imagery with multispectral and hyperspectral capabilities, and sub-metre resolution (0.5-0.8 meters natively), which can be enhanced further to 0.5 to 0.6-meter super resolution using software.
• The satellite weighs less than 50 kg and is positioned in low-earth orbit, enabling increased collection capacity and low-latency delivery of satellite images.
• This new development is a significant milestone in India’s space endeavors, offering enhanced surveillance capabilities to several sectors, including defense and commercial enterprises.

Recent news

• Air India and Tata Advanced Systemswill be investing Rs 2,300 crore on various projects in Karnataka, with a potential to create 1,650 jobs.

India secures second overseas port Sittwe in Myanmar

• India has gained the right to operate a second overseas port, Sittwe,in
• 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 per cent owned by the Ministry of Ports, Shipping and Waterways.
• In the Indian Ocean, China and India are engaged in a struggle to expand their economic influence.
• Ports have become highly significant in this rivalry.
• India has gained full operational control over the Sittwe Port, providing it with a strategic advantage over China in the Indian Ocean rivalry.
• Unlike the limited control over terminals in Chabahar, India now has complete authority over the port.
• The deal also includes a long-term lease agreement, which can be renewed every three years, allowing India to initiate significant development projects at the port.
• India Ports Global Limited, a subsidiary of Sagarmala Development Company Limited under the Ministry of Ports, Shipping and Waterways, will lead the development and operation of the port.

About Myanmar

• Capital: Naypyidaw
• Currency: Myanmar Kyat

Recent news

• India is planning to invest $3.7 billionto fence its 1,610-km border with Myanmar, aiming to curb smuggling and illegal activities.

CURRENT AFFAIRS: AWARDS AND HONOURS

Dr. Agarwal’s Eye Hospital Wins Best Scientific Poster Award 2024: Advancing Eye Care Innovation

• Dr Agarwal’s Eye Hospitalrecently announced that their accomplished research team have been honoured with the prestigious ‘Best Scientific Poster Award’ at the 2024 Annual Meeting of the American Society for Cataract and Refractive Surgery (ASCRS).
• This recognition comes in light of their groundbreaking study on ‘The efficacy of RevitalVision vision-training software in improving best-corrected vision in stable keratoconus patients post Crosslinking surgery.’
• Led by ophthalmologists Prof. Lional Raj and Prof. David Heber, the research team at Dr Agarwal’s Eye Hospital in Tirunelveli will be presenting their pioneering work at the ASCRS annual meeting held in Boston in April.
• Their prospective controlled, randomised study has yielded remarkable clinical outcomes, offering new hope for patients suffering from keratoconus.

Indian Expert Ashwini Patil Joins Britain’s Dementia Research Team

• Ashwini Keshavan, a neurologist of Indian origin, has been chosen to be part of a top-notch research team in the UK.
• This prestigious team has been entrusted with the crucial task of conducting research to detect dementia through blood tests and gathering more evidence to support this approach.
• The findings of this research team are expected to have a wide-ranging impact over the next five years, as the possibility of diagnosing dementia through a simple blood test could revolutionize the way the disease is detected and managed.
• Ashwini Keshavanis currently working with a team that is dedicated to studying a biomarker called p-tau217, which has the potential to be a reliable indicator of Alzheimer’s disease.
• The focus of their research is to examine the effectiveness of this specific protein in detecting Alzheimer’s, which is one of the most prevalent forms of dementia.

Aleksei Navalny and Yulia Navalnaya have been honored with the Freedom Prize.

• The Ludwig Erhard Summit, a leading Germanforum, will award the Freedom Prize of the Media to the late Russian dissident Aleksei Navalny and his wife, Yulia Navalnaya.
• This prestigious award is presented annually to public figures who have made significant contributions to freedom of expression, dialogue, and democracy.
• Previous recipients of the Freedom Prize include Russian politician Garry Kasparov in 2023 and Ukrainian President Volodymyr Zelenskyy.
• Former Soviet President Mikhail Gorbachev, who played a significant role in the dissolution of the Soviet Union and democratic reforms, has also been honoured with the award.
• Although Aleksei Navalny, a prominent Russianopposition leader and anti-corruption activist, has tragically passed away, his legacy and commitment to democratic values will be recognized with this award.
• Yulia Navalnaya, Aleksei’s wife, will accept the award in person on his behalf, highlighting their joint efforts to promote freedom and democracy in Russia.

CURRENT AFFAIRS: MOUS AND AGREEMENT

KABIL signed an MoU with CSIR-IMMT for technical collaboration on critical minerals

• Khanij Bidesh India Limited (KABIL) has signed an MoU with the Council of Scientific and Industrial Research-Institute of Minerals and Materials  Technology(CSIR-IMMT), aimed at fostering technical and knowledge cooperation for Critical Minerals.
• The MoU was signed at the NALCO Corporate Office in Bhubaneswar
• According to the MoU, KABIL will use the technical expertise and services provided by CSIR-IMMTto undertake various projects.
• These initiatives include the design and analysis of metallurgical test work plans, the development and review of process flowsheets, and the selection of process technologies for mineral processing, beneficiation, and metal extraction.
• Moreover, the agreement will foster joint research efforts and facilitate the exchange of scientific information between the two entities.
• KABIL, a joint venture company comprising National Aluminium Company Limited(NALCO), Hindustan Copper Limited (HCL), and Mineral Exploration and Consultancy Limited (MECL), operates under the aegis of the Ministry of Mines of Government of India.

CURRENT AFFAIRS: RANKING AND REPORTS

IIT Bombay Ranks 45th In QS World University Rankings For Engineering & Technology

• IIT Bombay has ranked 45th in Engineering and Technology with an overall score of 79.1 out of 100 in the Quacquarelli Symonds (QS) World University Rankings by Subject for 2024.
• The Institute has been ranked in 4 out of 5 broad subject areas, which include Engineering & Technology, Natural Sciences, Social Sciences and Management, and Arts and Humanities.
• The Institution improved its 2023 performance by two places in Engineering and Technology.
• The QS World University Rankings by Subject identifies the world’s strongest universities in individual subject areas, covering 55 disciplines as of 2024.
• Parameter-wise, In Academic Reputation, IIT Bombay’s best performance is in Mathematics, in which it scored 79.6; In Employer Reputation, the Institute’s best performance is in Engineering – Mineral & Mining where it earned a score of 96.2; In Citations per Paper, IIT Bombay’s best performance is in Engineering – Mineral & Mining, earning a highest-score 88.0; In H-Index, IIT Bombay received a score of 80.5 for Engineering – Mineral & Mining- its highest-scoring subject for this indicator.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Edelweiss Alternatives backed platform acquires L&T Infrastructure Development Projects  for Rs 6,000 crore 

• Edelweiss Alternativeshas successfully completed a deal worth Rs 6,000 crore to acquire L&T Infrastructure Development Projects (LTIDPL).
• This acquisition includes various road assets and power transmission lines owned by LTIDPL.

Key Highlights :

• Background of the Deal: The deal to buy LTIPDL, a joint venture where infra major L&T had a 51% stake and its partner Canada Pension Plan Investment Board had the rest, was first announced in December 2022.
• The Edelweiss arm is buying 100% ownershipin the JV and will get a portfolio comprising seven road assets spanning 4,400 lane-km and a 960 circuit km power transmission line.
• Portfolio Expansion: Following this acquisition, the infrastructure platform’s portfolio will expand to include 26 assets.
• These assets comprise 5,000 lane-km of roads, 1,800 circuit km of power transmission assets, and 813 MWp of renewables.
• The cumulative annual revenue from these assets is estimated to be Rs 3,000 crore.
• Investment Strategy:The acquisition aligns with Edelweiss Alternatives’ infrastructure yield strategy, which aims to generate regular distributions for investors by acquiring high-quality operating infrastructure assets with robust cash flows.
• Active asset management will be employed to unlock further value from these assets.
• Edelweiss Alternatives is one of the largest Alternatives platforms in India with assets under management of USD 6.3 billion (over Rs 52,100 crore) as of December 2023.

CURRENT AFFAIRS: SPORTS NEWS

Asian Wrestling Championship: Udit Bags Silver, Abhimanyu and Vicky Claim Bronze Each

• Rising Indian wrestler Udit settled for a silver medal after a 4-5 loss to Kento Yumiya of Japan in the men’s freestyle 57kg finalat the senior Asian Championship.
• India also won two bronze medals through Abhimanyu and Vicky in their respective categories.
• Abhimanyu defeated Begijon Kuldashev of Uzbekistan 6-5 in men’s 70kg freestyle, while Vicky pinned down home favourite Andrey Romanovitch Aronov 10-1 in the men’s 97kg for India’s third medal of the day.
• However, there was heartbreak for Rohit Kumar (65kg), who had defeated Bajrang Punia in the trials, as he lost to Masanosuke Ono of Japan 3-5 in his bronze medal match.
• In the 57kg final, the 19-year-old Indian and his Japanese rival were locked four-all with seconds left on the clock.
• Reigning U20 Asian champion Udit thus ensured that the country’s good record in the category, which has had some proven performers like Ravi Dahiya and Aman Sehrawatover the last few years, continues.
• India have won four Asian titles ina row in the 57kg category through Olympic silver medallist Ravi (2020, 2021, 2022) and Aman (2023).
• It was Udit’s second medal at the senior level, having won a silver at the UWW Ranking Series event in Tunisia in 2022.

CURRENT AFFAIRS: IMPORTANT DAYS

Jallianwala Bagh Massacre 2024: April 13

• Every year April 13this observed as Jallianwala Bagh Massacre.
• Jallianwalla also called as Massacre of Amritsar incident on April 13, 1919, in which British troops fired on a large crowd of unarmed Indians in an open space known as the Jallianwala Bagh Massacre in the Punjab regionof India.
• Jallianwala Bagh is a historic garden and memorial of national importance close to the Golden Temple complex in Amritsar, Punjab, India, preserved in the memory of those wounded and killed in the Jallianwala Bagh Massacre that took place on the site on the festival of Baisakhi Day, 13 April 1919.

Daily Ca One- Liner: April 13

• The President of India, Smt. Droupadi Murmu, inaugurated a two-day Homoeopathy Symposium in New Delhion World Homoeopathy Day
• Tata Advanced Systems Ltd(TASL) and Satellogic have jointly launched TSAT-1A, India’s first sub-metre resolution earth observation satellite built entirely by the private sector
• India has gained the right to operate a second overseas port, Sittwe,in
• Dr Agarwal’s Eye Hospitalrecently announced that their accomplished research team have been honoured with the prestigious ‘Best Scientific Poster Award’ at the 2024 Annual Meeting of the American Society for Cataract and Refractive Surgery
• Ashwini Keshavan, a neurologist of Indian origin, has been chosen to be part of a top-notch research team in the UK.
• The Ludwig Erhard Summit, a leading Germanforum, will award the Freedom Prize of the Media to the late Russian dissident Aleksei Navalny and his wife, Yulia Navalnaya
• Khanij Bidesh India Limited (KABIL) has signed an MoU with the Council of Scientific and Industrial Research-Institute of Minerals and Materials  Technology(CSIR-IMMT), aimed at fostering technical and knowledge cooperation for Critical Minerals
• IIT Bombay has ranked 45th in Engineering and Technology with an overall score of 79.1 out of 100 in the Quacquarelli Symonds (QS) World University Rankings by Subject for 2024.
• Rising Indian wrestler Udit settled for a silver medal after a 4-5 loss to Kento Yumiya of Japan in the men’s freestyle 57kg finalat the senior Asian Championship
• The Asian Development Bank (ADB) has revised its Gross domestic product (GDP)growth forecast for India, raising it to 7% for the current fiscal year (2023-24) from its previous projection of 6.7%.
• State Bank of India (SBI) and ICICI Bank, two of India’s top three lenders, are expected to serve as local intermediaries for European banks seeking third-party clearing services.
• Jana Small Finance Bank has partnered with Kotak Mahindra Life Insurance Company Limited to offer life insurance products to the customers of the bank.
• Lindy Cameron,the former Chief Executive Officer (CEO) of the United Kingdom’s (UK’s) National Cyber Security Centre, will take over as the country’s first-ever woman high commissioner to India.
• Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, has recommended the name of IFCI Limited (previously Industrial Finance Corporation of India) Managing Director (MD) Manoj Mittalas Small Industries Development Bank of India (SIDBI) Chairman and Managing Director (CMD).
• The Board of Directors of Suryoday Small Finance Bankhave appointed Deepak Kumar Sharma as an Additional Director (under the Independent category) on the Board of the Bank, with effect from April 11, 2024.
• The central government has appointed Ashish Kumar Chauhan, Chief Executive Officer (CEO) and Managing Director of the National Stock Exchange (NSE), and Sridhar Vembu, Founder of Zoho, as members of the University Grants Commission (UGC),India’s regulator for higher education, taking the body’s strength to 8 members from just 4 .
• India’s National Investment & Infrastructure Fund (NIIF), supported by the federal government, will appoint Rajiv Dhar to the newly created position of Chief Investment Officer (CIO).
• Private sector lender RBL Bank formerly known as Ratnakar Bank Limitedappointed Murali Ramakrishnan as Non-Executive Independent Director with immediate effect for 4 years.
• Edelweiss Alternativeshas successfully completed a deal worth Rs 6,000 crore to acquire L&T Infrastructure Development Projects (LTIDPL).
• Every year April 13th is observed as Jallianwala Bagh Massacre.