10 April 2024 Current Affairs:

10 April 2024 Current Affairs:


National NEWS

India Becomes Net Importer of Rolled Steel in FY2023-2024:

  • India imported 8.3 million tonnes of rolled steel in FY2023-2024, marking a 38.1% year-on-year increase, leading the country to become a net importer of rolled steel.
  • Steel exports rose by 11.5% to 7.5 million tons during the same period.
  • Steel consumption surged by 13.4% to 136 million tons, reflecting robust demand.
  • Indian steel mills seek government intervention against rising imports, while the Ministry of Steel resists restrictions due to high domestic demand.

International NEWS

Saudi Arabia to Chair UN Commission on the Status of Women:

  • The United Nations Commission on the Status of Women (CSW) has unanimously appointed Saudi Arabia to chair its 69th session in 2025, marking a significant development in the country’s engagement with women’s rights issues.
  • Abdulaziz Alwasil, the Permanent Representative of the Kingdom of Saudi Arabia to the UN, has been elected as the chair of the CSW, succeeding Antonio Manuel Lagdameo of the Philippines.
  • This appointment reflects Saudi Arabia’s increasing involvement in international forums focused on gender equality and women’s empowerment, despite ongoing concerns regarding its domestic record on women’s rights.

Saudi Arabia:

  • Capital: Riyadh
  • King: Salman of Saudi Arabia
  • Currency: Saudi Riyal

Economy NEWS

Eight Indian States Projected to Surpass $1 Trillion Economy by FY47:

  • India Ratings and Research (Ind-Ra) predicts that eight states in India will achieve an economy exceeding $1 trillion as the nation progresses towards becoming a developed nation by FY47.
  • Among these states, Maharashtra, Karnataka, and Gujarat are expected to be the first ones to achieve the $1 trillion mark, with this milestone projected to be reached by FY39.
  • Only Goa and Sikkim are currently classified in the upper middle-income bracket by the World Bank, with Uttar Pradesh and Bihar among those in the low-income group.
  • Sates like Chhattisgarh, Uttar Pradesh, Rajasthan, West Bengal, Bihar, Jharkhand, and Punjab have trailed behind the national average, while others have shown accelerated growth rates exceeding 6 per cent.

Banking NEWS

General Insurance Industry in India Records 12.78% Growth in FY24:

  • The General Insurance industry in India experiences a growth of 12.78% in Fiscal Year 2023-24 (FY24), with gross direct premium underwritten reaching Rs 2,89,731 crore.
  • Premiums of general insurers grew by 14.24% year-on-year (Y-o-Y) to Rs 2.45 trillion in FY24, indicating a positive trend in the sector’s performance.
  • However, the growth rate in FY24 is slightly lower compared to the 16% achieved in the previous fiscal year, FY23.
  • Public sector general insurers witness a 8.99% growth in premium, amounting to Rs 90,344.49 crore, while private sector counterparts observe a more substantial 17.53% increase to Rs 1.55 trillion.

About General Insurance Council (GIC):

  • It has been constituted under section 64C of the Insurance Act, 1938 since 2001 by the Insurance Regulatory and Development Authority of India (IRDAI)
  • Chairman- Tapan Singhel
  • Headquarters- Mumbai, Maharashtra
  • Tagline- Together We serve

SBI and Standard Chartered Execute First Credit Default Swap (CDS) Trade in India Since RBI’s Revised Guidelines:

  • The State Bank of India (SBI) and Standard Chartered Bank India conduct the first Credit Default Swap (CDS) trade worth Rs 25 crore in India since the Reserve Bank of India (RBI) issued revised CDS guidelines in 2022.
  • The transaction involves a 1-year rupee CDS featuring REC (Rural Electrification Corporation).
  • This trade signifies a significant advancement in credit risk management within the Indian financial market and highlights the increasing sophistication of financial instruments.
  • Credit Default Swap (CDS) is a credit derivative designed to protect the buyer against potential defaults and facilitate the management and transfer of credit risk.
  • Under a CDS agreement, the buyer makes periodic payments to the seller until the credit maturity date, while in the event of a default by the debt issuer, the seller compensates the buyer for all premiums and interest that would have been paid until the maturity date.
  • CDS functions similarly to an insurance policy, allowing purchasers to hedge against the unlikely event of default affecting their investments.

About State Bank of India (SBI):

  • Chairman- Dinesh Kumar Khara
  • Headquarters- Mumbai, Maharashtra
  • Establishment – 1955

Ranks and Reports

Indian Founders Lead in Offshore Unicorn Creation:

  • Indian founders have co-founded 109 unicorns outside of India, surpassing the 67 unicorns founded within India.
  • The Global Unicorn Index 2024, by the Hurun Research Institute, highlights India as third globally with 67 unicorns, led by Swiggy and Dream11, each valued at $8 billion, and Razorpay valued at $7.5 billion.
  • Unicorns are startups worth at least a billion dollars and are not yet listed on a public exchange.

Appointment NEWS

Jagjit Pavadia Re-elected to International Narcotics Control Board:

  • India’s nominee Jagjit Pavadia secures re-election to the International Narcotics Control Boardfor the term 2025-2030 after receiving the highest number of votes in the elections conducted by the UN Economic and Social Council (ECOSOC).
  • The re-election highlights India’s continued commitment to global efforts in narcotics control and signifies international recognition of Pavadia’s expertise and contributions in the field.
  • External Affairs Minister S Jaishankar lauds the Permanent Mission of India to the United Nations and the team at the Ministry of External Affairs for their commendable efforts.

International Narcotics Control Board:

  • President: Jallal Toufiq
  • Headquarters: Vienna International Centre (Vienna, Austria)
  • Founded: 1968

Manoj Panda Appointed Full-Time Member of 16th Finance Commission:

  • Economist Manoj Panda, former Director of the Institute of Economic Growth (IEG), is appointed as a full-time member of the 16th Finance Commission (FC) of India by the Government of India (GoI).
  • Panda’s tenure in the commission will be effective from the date he assumes office until the submission of the report or October 31, 2025.
  • His appointment comes as a replacement for Niranjan Rajadhyaksha, Executive Director at Artha Global, in the 16th Finance Commission.
  • Current Member of 16th FC: Apart from Manoj Panda the other 2 Full time members are, • Ajay Narayan Jha, former member, 15th Finance Commission and former Secretary, Expenditure;

About Finance commission: The Sixteenth Finance Commission was constituted on 31.12.2023 with Shri Arvind Panagariya, former Vice-Chairman, NITI Aayog as its Chairman.

Award NEWS

ISRO’s Chandrayaan-3 Team Receives John L “Jack” Swigert Jr Award:

  • The Indian Space Research Organisation (ISRO)‘s Chandrayaan-3 mission team is honored with the 2024 John L “Jack” Swigert, Jr, Award for Space Exploration by the US-based Space Foundation.
  • The award, presented at the opening day of the three-day annual symposium organized by the Space Foundation in Colorado, United States, recognizes contributions in the realm of space exploration and discovery.
  • The Indian Consul General of India in Houston, D C Manjunath, received the award on behalf of the ISRO’s Chandrayaan-3 team, underscoring India’s growing recognition in the global space community.

Mamta G. Sagar Wins WOW World Literary Prize:

  • Renowned Kannada poet, writer, and activist Mamta G. Sagar is honoured with the WOW World Literary Prizefrom the World Organization of Writers (WOW) for her significant contributions to literature.
  • The award ceremony took place during the VII World Literary Festival “WOW-LIFFT-2024” held in Abuja, Nigeria, from April 4-6, 2024.
  • Mamta G. Sagar, who serves as a facilitator at the Srishti Manipal Institute of Art, Design, and Technology in Bengaluru, Karnataka, was recognized with a prestigious award comprising a gold medal, cash prize, and a book publishing agreement.
  • Prior to her current role, Sagar held positions as a Professor at institutions including Hyderabad University and Bangalore University.
  • Her literary works, including poems and research, have gained international acclaim, with her poems translated into numerous Indian and foreign languages.
  • Among her previous accolades are the Sanchi Honnamma Kavya Prashasti (2019), Bhashabharathi Translation Award (2019), and the Charles Wallace India Trust fellowship (2015) at the British Centre for Literary Translation, University of East Anglia, UK.
  • The WOW World Literary Prize succeeds the Golden Lift literary prize, which was presented from 2016 to 2023.

Science and Tech NEWS

ISRO Chief Reveals Objectives of Chandrayaan-4 Mission and Ambitious Lunar Landing Plan:

  • ISRO Chief S Somanath shares details of the Chandrayaan-4 mission and ISRO’s lunar mission objectives during an interaction with the media.
  • Chandrayaan-4 is envisioned as a continuation of the Chandrayaan series, aiming to pave the way for India’s lunar landing in 2040.
  • The mission aims to send a craft to the moon to collect samples and bring them back to Earth, serving as a crucial step towards continuous moon exploration.
  • ISRO plans to eventually send Indian astronauts to the moon aboard the Chandrayaan craft to conduct experiments and return safely.

About ISRO:

  • Founder: Vikram Sarabhai
  • Headquarters: Bengaluru
  • Founded: 15 August 1969
  • Chairman: Sreedhara Somanath

Tata Launches India’s First Private Earth Observation Satellite:

  • Tata Advanced Systems Limited (TASL), a subsidiary of Tata Sons, launches India’s first private sector-built earth observation satellite TSAT-1A, marking a significant milestone in the country’s space capabilities.
  • Previously, only the government-owned Indian Space Research Organization (ISRO) possessed the capability to build and launch such satellites.
  • The satellite is described as military-grade, signifying its potential for defence and security applications.
  • Sukaran Singh, CEO and MD of TASL, highlights that primary customers will include the government and defense forces, with plans to also target commercial customers.
  • The TSAT-1A was launched aboard a SpaceX Falcon 9 Rocket from the Kennedy Space Center, Florida, United States on April 7, 2024, alongside a total of 11 satellites.

About spaceX:

  • Founders: Elon Musk, Tom Mueller
  • Headquarters: Hawthorne, California, United States
  • Founded: 14 March 200

Sports NEWS

Harendra Singh Appointed Coach of Indian Senior Women’s Hockey Team:

  • Former Indian hockey player and Dronacharya awardee Harendra Singh has been selected by Hockey India to coach the senior national women’s hockey team.
  • Singh’s tenure as coach is expected to extend until the 2028 Los Angeles Olympics, aiming to bring strategic leadership and mentorship to the team.
  • He will replace Janneke Schopman, a former Dutch hockey player, who resigned last month following the national women’s team’s failure to qualify for the Paris Olympics 2024.

Fuel your success with Edusprint! Our seasoned faculty, proven strategies, and personalized support ensure a transformative learning experience. Enroll now to conquer competitive exams and fast-track your dream job. #EdusprintSuccess


Edusprint Academy for SSC, Railways, TNPSC, Bank Exams.

Shape Your Future with Edusprint - Igniting Careers for Success!

Discover Exclusive Course Fee Offers: Inquire Now for Special Deals!

Latest & Trending Posts

Discover more from Edusprint academy

Subscribe now to keep reading and get access to the full archive.

Continue reading

Inquire Now

All Inquiries will get a Demo Class & Study Materials for Free