National NEWS
Innovative Hybrid Pitch Technology Introduced at HPCA Stadium, Himachal Pradesh:
- The HPCA Stadium in Himachal Pradesh has implemented a pioneering hybrid pitch, sanctioned by the BCCI and installed by SISGrass, a Dutch company.
- This technology offers enhanced durability, consistency, and performance, catering to international and IPL matches.
- SISGrass entered the Indian market following ICC approval for hybrid surfaces in T20 and 50-over cricket, leveraging its success in English cricket grounds.
- The hybrid pitch combines natural turf with polymer fibers to increase resilience, ensure even bounce, and reduce maintenance demands.
- The Universal machine, utilized in Dharamshala, will replicate this technology in Ahmedabad and Mumbai.
- Hybrid pitches are endorsed for T20 and 50-over competitions in the UK and will debut in the four-day County Championship matches this season.
- The Universal machine has facilitated SISGrass installations at renowned English cricket grounds like Lord’s, The Oval, Edgbaston, Old Trafford, and Trent Bridge.
Himachal Pradesh:
- Capitals: Shimla (Summer), Dharamshala (Winter)
- Chief minister: Sukhvinder Singh Sukhu
- Governor: Shiv Pratap Shukla
Inauguration of SPACE: DRDO’s Sonar Systems Testing Hub in Kerala:
- DRDO inaugurated the Submersible Platform for Acoustic Characterisation and Evaluation (SPACE) in Kerala, aiming to advance naval technology.
- SPACE, established by the Naval Physical & Oceanographic Laboratory of DRDO, serves as a premier testing and evaluation center for sonar systems for the Indian Navy.
- Comprising both floating and submersible platforms, SPACE facilitates testing and evaluation of sonar systems onboard ships, submarines, and helicopters.
- SPACE enables the evaluation of complete sonar systems, facilitates quick deployment and recovery of scientific packages, and supports survey, sampling, and data collection of various parameters.
DRDO:
- Headquarters: New Delhi
- Head: Samir V Kamat
Economy NEWS
IMF Raises India’s GDP Growth Projection to 6.8% for FY 2024-25:
- The International Monetary Fund (IMF) revises India’s Gross Domestic Product (GDP) growth projection to 6.8% for FY 2024-25, up by 30 basis points from its previous forecast.
- India’s strong growth is attributed to robust domestic demand and a rising working-age population.
- The IMF’s World Economic Outlook report also forecasts India’s growth at 6.5% for FY 2025-26, maintaining its status as the fastest-growing economy globally.
- Global growth projections remain steady at 3.2% for both FY 2024-25 and FY 2025-26.
- India’s growth projection surpasses that of China, with India expected to grow at 6.8% compared to China’s 4.6% during the same period.
Banking NEWS
SBI Life Insurance Launches ‘IdeationX’ to Drive Innovation in Insurance Sector:
- SBI Life Insurance introduces ‘IdeationX’, a ground-breaking initiative aimed at revolutionizing the future of the insurance industry.
- The platform targets future leaders from B-schools nationwide to explore unconventional life insurance solutions, fostering innovation and addressing evolving consumer needs.
- ‘IdeationX’ seeks to engage young minds to conceptualize product solutions that cater to India’s growing insurance demands, contributing to reshaping the industry landscape.
- With India’s ambition to become the third-largest economy by 2030, the life insurance sector sees significant growth potential, with only 3% of the population currently covered.
- The initiative aligns with IRDAI’s ‘Insurance for All by 2047’ vision, promoting innovation and thought leadership to enhance consumer benefits and sectoral growth.
SBI Life Insurance:
- Headquarters: Mumbai
- CEO: Amit Jhingran
RBI Halts Bank of Baroda World App On boarding Amid Cyber Fraud Concerns:
- The Reserve Bank of India (RBI) suspended Bank of Baroda’s customer on boarding on its ‘BoB World’ mobile app in response to a surge in cyber fraud incidents, including a notable scam.
- This measure, enacted in October 2023, reflects the RBI’s commitment to safeguarding consumers and the financial system against cyber threats.
- The Finance Ministry is proposing stringent measures to combat fraud, emphasizing the need to enhance cybersecurity and due diligence practices of financial institutions.
- The RBI’s directive under Section 35A of the Banking Regulation Act, 1949, requires Bank of Baroda to rectify observed deficiencies and strengthen processes before resuming customer on boarding, aiming to address supervisory concerns effectively.
RBI:
- Founded: 1 April 1935,
- Governor: Shaktikanta Das
- Headquarters: Mumbai, Maharashtra
Award NEWS
Amitabh Bachchan to Receive Lata Deenanath Mangeshkar Award:
- Renowned Hindi cinema actor Amitabh Bachchan is set to be honored with the third Lata Deenanath Mangeshkar Award this year.
- The award, announced by the Master Deenanath Mangeshkar Smriti Pratisthan Public Charitable Trust and the Mangeshkar family, recognizes Bachchan’s illustrious career spanning over five decades.
- Music director Hridaynath Mangeshkar announced the award during a press conference in Mumbai.
- Other recipients of the Lata Deenanath Mangeshkar Award include AR Rahman for Indian music, actress Padmini Kolhapuri for her contributions to cinema, Roop Kumar Rathore for his achievements in music, and actor Randeep Hooda for Best Film Production and Acting.
- The award, initiated in 2022 in memory of the late Lata Mangeshkar, honors individuals who have made significant and exemplary contributions to society.
- Previous recipients of the award include Prime Minister Narendra Modi in 2022 and singer Asha Bhosle in 2023.
Adwaita Nayar Named as a 2024 Young Global Leader by World Economic Forum:
- Adwaita Nayar, co-founder of Nykaa and CEO of Nykaa Fashion, has been honored as a ‘2024 Young Global Leader’ by the World Economic Forum.
- This prestigious recognition highlights Nayar’s outstanding contributions as a change-maker and entrepreneur, positioning her among the world’s most influential young leaders.
- The World Economic Forum’s Forum of Young Global Leaders celebrates individuals under 40 who demonstrate significant impact and leadership in their respective fields.
- Nayar’s selection underscores her exceptional leadership qualities, innovative thinking, and dedication to driving positive change, reflecting her significant influence on the global stage.
World economic forum:
- Chairperson: Børge Brende
- Headquarters: Cologny, Switzerland
- Founded: 24 January 1971
Science and Tech NEWS
ISRO to Launch ESA’s Proba-3 Mission: A Breakthrough in Solar Observation
- India will launch ESA’s Proba-3 mission in September 2024, showcasing cutting-edge space technology.
- Proba-3 aims to achieve precision formation flying using two satellites, creating a 144-meter solar coronagraph to study the Sun’s corona.
- The mission employs an artificial eclipse in space to observe the corona closer to the solar rim than ever before.
- ESA developed innovative technologies including precision cold gas thrusters and vision-based detection systems for precise positioning of the spacecraft.
- Proba-3 serves as a testbed for future multi-satellite missions, paving the way for advanced space exploration.
ISRO Targets Debris-Free Space Missions by 2030: Chairman S Somanath
- ISRO Chairman S Somanath announces India’s goal to achieve debris-free space missions by 2030.
- The announcement was made during the 42nd Inter-Agency Space Debris Coordination Committee (IADC) annual meeting in Bengaluru.
- Somanath emphasized ISRO’s clear plan for future space exploration and utilization, aligning with global efforts to mitigate space debris.
- S Somanath holds the position of both ISRO Chairman and Secretary of the Department of Space, underscoring his pivotal role in advancing India’s space initiatives.
ISRO:
- Headquarters: Bengaluru
- Founded: 15 August 1969
- Head: Sreedhara Panicker Somanath
Sports NEWS
Olympic Flame Lit for Paris 2024 Games in Ancient Olympia:
- The Olympic flame for Paris 2024 was ignited in Ancient Olympia, marking 100 days until the games.
- Symbolizing peace and hope, the flame will journey across Greece before arriving in Marseille on May 8 and ultimately reaching the Opening Ceremony in Paris on July 26.
- The Olympic flame represents positive human values, connecting the ancient and modern Games, symbolizing spirit, knowledge, and life.
- Olympia, Greece, was the site of the ancient Olympic Games, held from 776 BC to 393 AD, dedicated to the Greek god Zeus.
- The Olympic Games motto, “Citius, Altius, Fortius” (Swifter, Higher, Stronger), embodies the unity and enthusiasm of the human spirit.
- The Olympic rings, symbolizing the five continents, were created in 1913 by Baron de Coubertin.
- The Paris Summer Olympics are scheduled from July 26 to August 11, 2024, marking the third time Paris hosts the event, with approximately 10,500 athletes from 206 National Olympic Committees participating.
- New sports in the 2024 Olympics include Breaking, Surfing, Sport Climbing, and Skateboarding
- President of Indian Olympic Association: P.T.Usha
International Olympic Committee (IOC):
- Founded: June 23, 1894
- Chairman: Thomas Bach
- Headquarters: Lausanne, Switzerland
Obituary
Renowned Carnatic Musician K.G. Jayan Passes Away at 90:
- K.G. Jayan, a towering figure in Carnatic music and Malayalam cinema, passed away at the age of 90 at his residence in Thripunitura, Kerala.
- Jayan had been battling various age-related ailments, marking the end of a remarkable musical journey.
- Born in Kottayam, Kerala, Jayan’s life was deeply immersed in music, known as one half of the acclaimed “Jaya-Vijaya” duo alongside his twin brother, K.G. Vijayan.
- They earned the name from the renowned Malayalam actor Jose Prakash, with whom they collaborated in theatrical productions, reflecting their significant contribution to the cultural landscape.
Important Days
Observing World Hemophilia Day: Advocating for Awareness and Support
- World Hemophilia Day, observed annually on April 17th, aims to raise awareness about rare bleeding disorders and provide support to affected individuals globally.
- The day is dedicated to supporting the bleeding disorders community irrespective of age, gender, or location, emphasizing equitable access to treatment and support services.
- The theme for World Hemophilia Day 2024 is ‘Equitable access for all: recognizing all bleeding disorders’, highlighting the importance of addressing various bleeding disorders comprehensively.
- Established in 1989 by the World Federation of Hemophilia (WFH), the day honors the organization’s founder, Frank Schnabel, known for his advocacy and efforts to improve hemophilia awareness and treatment globally.
