National NEWS
SJVN inaugurates First Multi-purpose Green Hydrogen Pilot Project of the Nation:
- SJVN Limited has achieved a significant milestone with the inauguration of India’s first Multi-purpose (Combined Heat & Power) Green Hydrogen Pilot Project at SJVN’s 1,500 MW Nathpa Jhakri Hydro Power Station (NJHPS) in Jhakri, Himachal Pradesh.
- The green hydrogen produced from the project will be utilized for High Velocity Oxygen Fuel (HVOF) Coating Facility of NJHPS for meeting its combustion fuel requirements.
- In addition, it will also generate electricity through its fuel cell of 25 kW capacity.
- The first Multi-purpose (Combined Heat & Power) Green Hydrogen Generation Plant of the nation has been inaugurated by Chairperson and Managing Director, Geeta Kapur.
- The state-of-the-art Green Hydrogen Pilot Project is set to produce 14 kilograms of Green Hydrogen daily during 8 hours of operation.
SJVN limited:
- Chairman: Nand Lal Sharma
- SJVN Ltd was incorporated on May 24, 1988
REC Limited Secures SACE-Covered Green Loan Worth JPY 60.5 Billion:
- REC Limited, a leading NBFC under the Ministry of Power, obtains a Green Loan of JPY (japan) 60.536 billion for financing green projects in India.
- The loan benefits from an 80% guarantee by Italian Export Credit Agency, SACE, under their Push Strategy programme.
- This collaboration marks the first-of-its-kind between an Indian government entity and SACE, setting a benchmark for sustainable financing in the Indian public sector.
REC limited:
- Headquarters: National Capital Region
- Founded: 25 July 1969
- Head: Shri Vivek Kumar Dewangan
Economy NEWS
India’s FY25 Economic Outlook: 6.6% GDP Growth Expected Amidst Rising Inflation:
- Deloitte forecasts India’s GDP to grow at 6.6% in FY25, driven by a rebound in exports and capital flows.
- Inflation anticipated to remain above RBI’s target of 4% due to robust economic activity.
- Deloitte’s GDP growth estimate aligns with projections by the World Bank.Top of Form
Banking NEWS
SBI Card MILES: Elevating Travel Experiences with Three Variants
- SBI Card launches SBI Card MILES, featuring three variants—ELITE, PRIME, and MILES—to suit diverse travel preferences.
- Annual fees range from Rs 1,499 to Rs 4,999 before tax, offering affordable options with premium benefits.
- Cardholders earn up to six travel credits per Rs 200 spent on travel and two travel credits on other categories, convertible into air miles/hotel points or usable for bookings via SBI Card platform.
- Accelerated rewards amplify benefits on travel bookings, maximizing earning potential.
- Access to airport lounges enhances travel convenience and comfort for users across all variants.
SBI bank:
- Chairperson: Dinesh Kumar Khara
- Founded: 1 July 1955
- Headquarters: Mumbai
Groww Mutual Fund Introduces India’s First Nifty Non-Cyclical Consumer Index Fund:
- SEBI (Securities and Exchange Board of India (SEBI)) approves Groww Mutual Fund’s Nifty Non-Cyclical Consumer Index Fund, marking the country’s first of its kind.
- New Fund Offering (NFO) expected to launch in the first week of May, tracking the Nifty Non-Cyclical Consumer Index-TRI.
- Fund aims for long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index in proportion for returns.
- Structured to allocate 95-100% of assets in equities of companies involved in or anticipated to benefit from consumption and consumption-related endeavors.
- May invest 0-5% in debt and money market instruments, as well as units of debt schemes or debt ETFs for diversification.
- Nifty Non-Cyclical Consumer Index Fund focuses on companies less impacted by economic instability, offering stability during downturns.
SEBI:
- Headquarters: Mumbai, Maharashtra
- Head: Madhabi Puri Buch
Appointment NEWS
Gita Sabharwal appointed as UN resident coordinator in Indonesia:
- UN Secretary-General António Guterres has appointed Gita Sabharwal of India as the United Nations resident coordinator in indonesia.
- She has 30 years of experience in development supporting climate transition, sustainable peace, governance and social policy, while leveraging digital technology and data to accelerate the Sustainable Development Goals (SDGs).
Amitabh Chaudhry Secures Second Term as Axis Bank MD & CEO: Regulatory Provisions and Background:
- Amitabh Chaudhry re-appointed as MD & CEO of Axis Bank for another three years, effective from January 1, 2025.
- Chaudhry initially appointed in 2019, with previous extension granted in 2022.
- Regulatory provision mandates approval from Reserve Bank of India (RBI) and Axis Bank shareholders for Chaudhry’s re-appointment.
- RBI governed by Banking Regulation Act 1949, sections 10B and 35B, overseeing appointments of top executives in private sector banks.
- Chaudhry’s prior experience includes leadership roles at HDFC Life Insurance before joining Axis Bank.
United Nation:
- Founded: 24 October 1945, San Francisco, California, United States
- Headquarters: New York, New York, United States
- Head: António Guterres
Defence NEWS
India Enhances Missile Arsenal with Crystal Maze 2:
- India’s Strategic Forces Command successfully tests Crystal Maze 2, a new model of Medium-Range Ballistic Missile.
- Test aimed to confirm operational readiness and demonstrate effectiveness of newly developed technologies.
- Ministry of Defence confirms operational effectiveness and integration with new technologies.
- Missile not part of the ‘Agni’ series, adds to India’s diverse missile capabilities.
- Indian Air Force tests air-launched ballistic missile, likely Crystal Maze 2, with over 250 km range from Su-30 MKI fighter jet in Andaman and Nicobar Islands.
Ranks and Reports NEWS
UN Report: Over 282 Million Face Acute Hunger in 2023
- United Nations Global Report on Food Crises 2023 reveals over 282 million people in 59 countries suffered from acute hunger, a 24 million increase from 2022.
- India, Afghanistan, Bangladesh, and Pakistan among top ten nations grappling with acute hunger.
- Acute hunger defined as inability to access adequate food, endangering lives or livelihoods, distinct from chronic hunger.
- Global Report on Food Crises, initiated in 2016, provides annual insights into food security challenges, produced by the Food Security Information Network for the Global Network Against Food Crises.
Obituary
Remembering Sudhir Kakar: Legacy of the Father of Indian Psychology
- Sudhir Kakar, renowned Indian psychoanalysis pioneer, passes away at 85.
- Born in 1938 in Nainital, Uttarakhand, Kakar’s work bridged Western and Eastern thought in psychology.
- Widely acclaimed as the “Father of Indian Psychology”, Kakar made significant contributions to the field of psychoanalysis in India.
Important Points
World Intellectual Property Day 2024: Fostering Innovation for Sustainable Development
- World Intellectual Property Day observed annually on April 26th by WIPO, emphasizing the significance of intellectual property in driving innovation and creativity.
- Theme for 2024: ‘IP and the SDGs: Building Our Common Future with Innovation and Creativity’.
- Theme underscores the crucial role of intellectual property in advancing Sustainable Development Goals (SDGs) and shaping a more sustainable and equitable future.
- Focuses on leveraging IP rights to address global challenges and promote sustainable development practices worldwide.
