Daily Current Affairs and GK | 3 April 2024

Topic: National News

1. TRAI issued a Consultation Paper on inputs for formulation of National Broadcasting Policy-2024.

• The broadcasting industry is a sunrise industry, according to the Ministry of Communications.
• It has enormous potential to support the expansion of the Indian economy.
• With the goal of positioning India as a global hub for content, the paper addresses important concerns that are frequently present in the broadcasting industry.
• It also covers topics including bolstering public service broadcasting, problems with different media and entertainment sectors, preventing piracy, and guaranteeing content security.
• Stakeholder feedback on the Consultation Paper on Inputs for Formulation of National Broadcasting Policy-2024 is being sought by TRAI by April 30th.
• TRAI has also asked for opinions on what steps should be taken to give "TV Dark Homes" access to reasonably priced TV services.
• In the country, there are about 100 million "TV Dark Homes”. There are currently 182 million households with televisions.
• Additionally, TRAI has requested recommendations for boosting domestic production of broadcasting equipment and lowering dependency on imported versions.
• Additionally, opinions on the regulatory strategy and policy that should be used for online gaming have also been sought.
• TRAI had last year issued a pre-consultation paper.
• National Broadcasting Policy will be issued by the Information & Broadcasting Ministry.

Topic: Sports

2. Mirabai Chanu has become the sole Indian weightlifter who qualified for the Paris Olympics 2024.

• After competing successfully in the IWF World Cup in Phuket, Thailand on April 1, 2024, Mirabai Chanu achieved this.
• Chanu placed third in Group B of the women's 49kg competition, finishing 11th overall.
• At the World Cup, Chanu lifted 184 kg in total. It was required as a final and compulsory qualifier for Paris 2024.
• Chanu has fulfilled the requirements for the Olympics in Paris.
• To qualify for the Olympics in Paris, athletes must compete in two required events and three additional qualifiers.
• In the women's 49 kg Olympic Qualification Ranking (OQR), Chanu is currently ranked second. Chanu is behind China’s Jiang Huihua.
• Mirabai Chanu is a Tokyo Olympics medallist.

Topic: Indian Economy

3. World Bank projected India’s economic growth to be 6.6% for FY25.

• World Bank increased India’s economic growth projection by 20 basis points to 6.6 per cent for FY25.
• The growth projection has been increased due to upward revisions to investment growth.
• As per the World Bank, India’s FY24 growth rate will be 7.5%, which is lower than the National Statistical Office estimate of 7.6%.
• The World Bank's earlier estimate for India’s FY24 growth was  6.3%.
• Reserve Bank of India’s (RBI) real GDP growth rate projection for FY24 is 7.3%.
• The report highlighted that India’s growth pickup due to the public sector whereas private investment continues to remain weak.
• As per the latest South Asia Development Update, South Asia is expected to remain the fastest-growing region in the world for the next two years.
• Pakistan's economy is expected to grow by 2.3% in FY25 while Bangladesh will grow by 5.7% in FY25.
• In Sri Lanka, output growth is expected to strengthen to 2.5% in 2025,
• The fiscal deficit and government debt are projected to decline over the medium term.

Topic: Summits/ Conferences/ Meetings

4. INSA and NCGG are jointly organizing the LEADS Programme-2024 from 1-7 April 2024.

• The Indian National Science Academy (INSA) and the National Centre for Good Governance (NCGG) are jointly organizing the 2nd INSA-NCGG Leadership Development Program in Science and Technology (LEADS) in New Delhi.
• Its main aim is to nurture and empower future leaders in the field of science and technology.
• Professors/ scientists selected from various institutions, laboratories/ Universities of different organizations are taking part in this programme.
• This programme will provide the required leadership skills to the participants for excellence in leadership, administration, team building, and infrastructure development.
• The National Centre for Good Governance (NCGG) is an institution for governance-related training, research, and consultancy. Its main aim is to enhance the capabilities of individuals and organizations involved in governance and public administration.
• The Indian National Science Academy (INSA) is an institution that promotes and recognizes excellence in scientific research.

Topic: National News

5. E-commerce firms to ensure proper classification for health, energy drinks: FSSAI

• As per the FSSAI directives, e-commerce platforms have to accurately classify products listed as health and energy drinks on their websites.
• FSSAI said that the main aim of this step is to enhance clarity and transparency about the nature and functional benefits of these products.
• It will help consumers make decisions and avoid misinformation.
• The advisory was issued after FSSAI noticed that products like dairy-based beverage mixes, cereal-based beverage mixes, or malt-based beverages were inaccurately categorized as 'health drinks' or 'energy drinks' on e-commerce sites.
• FSSAI has advised all e-commerce food business operators to rectify this misclassification by removing or de-linking such drinks or beverages from the category of ‘health drinks' or 'energy drinks’.
• FSSAI also clarified that the term 'health drink' lacks a definition or standardization under the FSS Act 2006.
• The term ‘energy’ drinks can only be used for products officially licensed under the Food Category System (FCS) codes 14.1.4.1 and 14.1.4.2.

Topic: National News

6. In the fiscal year 2023–2024, India for the first time achieved the production of one billion tons of coal and lignite.

• In the previous fiscal year 2022–2023, India produced a total of 937 million tonnes (MT) of coal and lignite.
• Over the past ten years, India's production has increased by 70%.
• India has fixed the target to stop importing coal by 2025–2026.
• When comparing this fiscal year to the previous financial year, the percentage of imported coal used for blending has decreased.
• In FY24, over 22.20 million tonnes of coal were imported for blending.
• It was 30.80 million tonnes in 2022–2023 fiscal year.

Topic: Corporates/Companies

7. The first Indian company with a 10K MW renewable energy capacity is Adani Green.

• At the Khavda solar park in Gujarat, Adani Green Energy Ltd announced that 2,000 MW of solar capacity has been operationalised.
• It is now the first company in India with a capacity for more than 10,000 MW of renewable energy.
• The company now has the largest operating portfolio in India, with 10,934 MW.
• In FY24, 2,848 MW of new renewable energy capacity was added.
• 7,393 MW of solar, 1,401 MW of wind, and 2,140 MW of wind-solar hybrid capacity is included in its operational portfolio.
• It is aiming for 45 GW renewable energy by 2030.
• In Khavda, the Adani Group is constructing the biggest renewable energy facility in the world.
• The Khavda facility, which occupies 538 square kilometers, is five times the size of Paris. It is almost as large as Mumbai.

Topic: Space and IT

8. Indian Institute of Astrophysics (IIA) celebrated 125^th anniversary of Kodaikanal Solar Observatory (KSO) on 1 April 2024.

• KSO has a digital repository of 1.2 lakh digitized solar images recorded every day since the start of the 20th century.
• The KSO’s 125th anniversary logo for the anniversary celebrations was unveiled by A.S. Kiran Kumar, former Chairman of ISRO and Chairperson of the Governing Council of IIA.
• KSO was established on 1 April 1899 by the British. It has one of the longest continuous daily records of the Sun in the world.
• Presently, KSO functions as a field station under the Indian Institute of Astrophysics.
• The Indian Institute of Astrophysics is an autonomous institution under the Department of Science and Technology.
• Evershed Effect is an effect that is observed in sunspots because of the radial flow of gas. It was discovered at the KSO in 1909.
• Indian Institute of Astrophysics (IIA) also celebrates 1st April as its Foundation Day.
• It was constituted under the Department of Science & Technology in 1971.

Topic: Geography

9. A 7.2 magnitude earthquake hit Taiwan, and many buildings collapsed.

• On April 3, a powerful earthquake struck Taiwan, causing buildings to collapse and affecting the entire island.
• As per Taiwan's earthquake monitoring agency, the earthquake's magnitude was 7.2, while the US Geological Survey estimated its intensity at 7.5.
• Following the earthquake, authorities in Taiwan, Japan, and the Philippines have issued tsunami warnings and evacuation advisories for citizens in coastal areas.
• The head of Taipei's seismology center told AFP the earthquake was the most powerful in 25 years.
• Earlier in September 1999, a devastating earthquake of magnitude 7.6 had killed 2,400 people.
• Earthquake:
  • Earthquake generally occurs due to the movement of tectonic plates.
  • Shallow earthquakes are generally more devastating because they carry more energy when they come out on the surface.
  • Deeper earthquakes are less devastating, as they lose much of their energy by the time they come to the surface.
  • Western Himalayas is one of the most dangerous seismic zones in the world.

Topic: Defence

10. HAL-manufactured Dornier 228 supplied by India to Guyana.

• Recently, Guyana received two Dornier 228 planes from India-based aerospace and defense company Hindustan Aeronautics Limited (HAL) in a significant boost to its defense capabilities.
• Two Dornier 228 planes were handed over to the Guyana Defense Force (GDF) and reached at Cheddi Jagan International Airport (CJIA).
• The arrival of the Dornier 228 planes was facilitated by transportation provided by two Boeing C-17 Globemaster military transport planes.
• The Dornier 228 planes is renowned for its versatility and reliability, making it an ideal choice for a wide range of military and civil applications.
• The Dornier 228 is well-suited for various missions with its rugged design and superior performance capabilities, including surveillance, reconnaissance, medical evacuation, and transport operations.
• Previously, the Finance Minister of Guyana and the Deputy General Manager of EXIM Bank signed an agreement for a loan of $23.27 million from the Export-Import Bank of India.
• This loan facilitates the acquisition of critical aircraft for maritime patrol and military transportation.

Topic: Banking System

11. A new and more user-friendly version of the grievance redressal system, "SCORES 2.0" launched by SEBI.

• The new version of SCORES will make the process more efficient through auto-routing, auto-escalation, monitoring, and reduction in timelines.
• In SCORES 2.0, the time limit for the redressal of complaints has been reduced to 21 days. Moreover, there will be two levels of review.
• The first level review will be done by the ‘Designated Body’ and if the investor is dissatisfied, SEBI will conduct a second review.
• The market regulator has added a KYC registration agency database for easy registration of investors on SCORES.
• From today, investors will be able to lodge complaints only through the new version of SCORES.
• This website is available at https://scores.sebi.gov.in.
• The old website, https://scores.gov.in will remain operational only to check the status of old complaints.
• SEBI has informed that the old Scores app has been discontinued and a new app will be launched soon.

Topic: Sports

12. Rohan Bopanna created history by breaking his own record and winning the Miami Open men's doubles title.

• On March 30, Rohan Bopanna and his Australian partner Matthew Ebden topped the men's doubles final of the Miami Open in a historic win.
• The Indo-Australian pair won the title by defeating Croatia's Ivan Dodik and America's Austin Krajicek 6-7, 6-3, 10-16.
• With this victory, Bopanna broke his own record and at the age of 44, became the oldest person to win a Masters 1000 title on the ATP circuit.
• He made a record by winning the Indian Wells title last year.
• He also became the second Indian after Leander Paes to reach the finals of all nine ATP Masters 1000 events.
• This was Bopanna's 2nd career Grand Slam title and his 1st in men's doubles.
• Meanwhile, his previous Grand Slam win came in the mixed doubles at the 2017 French Open.

Topic: Indian Economy

13. In March, India’s manufacturing PMI reached to 16-year high at 59.1.

• India's manufacturing industry expanded at a fast pace in the last 16 years due to accelerating demand.
• India’s manufacturing PMI jumped to 59.1 in March from 56.9 in February. In January, the PMI was 56.5.
• The production and sales expanded at their fastest rates since October 2020.
• The manufacturing PMI remained above 50-mark indicating growth rather than contraction.
• The notable improvement in operating conditions reflects the growth of new orders, output, job creation and input stocks.
• However, cost pressures reached their highest level in five months.
• The outlook of the Indian manufacturing sector appeared to be mixed.

Topic: Banking System

14. In FY24, Unified Payments Interface (UPI) transactions worth ₹199 lakh crore were processed.

• The Unified Payments Interface (UPI) transactions touched new records during March 2024.
• This record transaction dipped slightly in February 2024 due to increased investment activity ahead of the financial year-end.
• A lot of transactions closer to the daily limit of Rs 1 lakh were witnessed in March.
• In FY23, the volume of UPI transactions was 55% higher. The On-year growth in UPI transactions remained over 40 per cent for the value of transactions.
• In FY24, the UPI platform processed 13,115 transactions while 8376 transactions worth Rs139 lakh crore occurred in FY23.
• During FY24, the volume of transactions was up 56.6 per cent whereas the value of transactions was 43.4 per cent higher.
• UPI transactions are likely to cross 100 crore transactions per day by FY27.