Current Affairs One - Liner : 9th April 2024

• National:
• REC Power Development and Consultancy Limited (RECPDCL) handed over two Special Purpose Vehicles (SPVs) on April 5, 2024. The SPV Kallam Transco Limited, formed for a project in Maharashtra, was given to Indigrid 2 Limited & Indigrid 1 Limited. The SPV Jalpura Khurja Power Transmission Limited, formed for a project in Uttar Pradesh, was handed over to The Tata Power Company Limited.

• India aims to produce 100 GW of nuclear power by 2047, a significant increase from the current production of over 8,000 MW. This target was announced by the Chairman of the Atomic Energy Commission (AEC), A.K. Mohanty. The plan includes the generation of nuclear power from breeder reactors, light water reactors built with international cooperation, and pressurized heavy water reactors.
• On April 5, 2024, Central Coalfields Limited, a subsidiary of Coal India, unveiled its new logo. The tagline for the new logo is “Fuelling Sustainable Growth.” This change is a part of the company’s commitment to sustainable growth and eco-friendly practices. The company expressed its intent to embark on an eco-friendly journey to meet energy demands through sustainable mining.
• Starting May 1, 2024, the Brihanmumbai Municipal Corporation (BMC) will double the property tax for Mumbai shops that don’t display signboards in Marathi or Devanagari script. The BMC will also revoke the licenses of illuminated boards without Marathi or Devanagari lettering. The license renewal cost will range from ₹25,000 to ₹1.5 lakh.
• The FSSAI launched a campaign in Delhi’s major markets on 8th April, 2024, focusing on food safety, particularly the detection and mitigation of pesticide residue and contaminants. The campaign introduced the “Food Safety on Wheel” mobile lab for rapid testing. It also emphasized the importance of sourcing from FSSAI-licensed vendors, obtaining FSSAI licenses, and adhering to food safety standards.
• The Supreme Court of India has recognized the right against climate change as a distinct fundamental and human right. This right is linked to Articles 21 and 14 of the Indian Constitution, which guarantee the fundamental rights to life and equality respectively. The court has ruled that citizens have the “right against the adverse effects of climate change” as part of their constitutional rights to life and equality.
• International:
• The seventh round of India-Peru Trade Agreement negotiations has indeed started. The talks, which began on April 8, 2024, are expected to continue until April 11. The proposed agreement aims to strengthen bilateral trade and investments by reducing or eliminating customs duties on goods and promoting trade in services.
• Banking:
• Tata Asset Management Company has launched six new index funds. The New Fund Offers (NFOs) for these funds opened on April 8, 2024, and will close on April 22, 2024. The minimum investment amount is Rs 5,000.
• Artemis Medicare Services Ltd (AMSL) has signed agreements with the International Finance Corporation (IFC) to raise Rs 330 crores through a preferential issue of unsecured compulsorily convertible debentures (CCDs) on a private placement basis. The board approved this on April 5, 2024.
• Bain Capital is selling its stake in Axis Bank, which is worth approximately $431 million. The shares are being offered for Rs 1,071-Rs 1,076.05 per share. This marks the end of Bain Capital’s investment in Axis Bank, which began over six years ago.
• On April 8, 2024, the market capitalization of companies listed on the BSE reached an all-time high of Rs 401.10 lakh crore (USD 4.81 trillion). This was due to a surge in the BSE benchmark, strong corporate earnings, positive investor sentiment, and domestic as well as international inflows. The Mid and Small Cap indices saw a surge of 60% and 63%, outpacing the 28.6% rise in the Largecap Sensex index.
• Mous:
• Canara Bank and the Society For Innovation & Entrepreneurship (SINE) of IIT Bombay signed a Memorandum of Understanding (MoU) on April 3, 2024, to empower start-ups across India. The partnership aims to provide financial assistance to start-ups with sustainable business models under the Canara Start-Up Scheme. The signing ceremony took place at the SINE office on the IIT Bombay Campus.
• Defence:
• The 55th Anniversary of the Naval Transmitting Station in Visakhapatnam was celebrated on 7th April 2024 with various activities including sports competitions, a cultural show, and clean-up drivesCommodore Happy Mohan, the Commanding Officer of INS Circars, was the Chief Guest.
• Cochin Shipyard Limited (CSL), a state-run shipbuilding facility in Kochi, India, signed a Master Shipyard Repair Agreement (MRSA) with the U.S. Navy, effective from April 5, 2024. This non-financial agreement will enable the repair of U.S. Navy ships. CSL is the third Indian shipyard to enter into an MRSA with the U.S., following Larsen & Toubro (L&T) and Mazagon Dock Shipbuilders Limited (MDL).
• Appointments & Resignations:
• Vinod Francis, with over 18 years of experience in South Indian Bank, was appointed as its CFO on April 5, 2024. He has held key roles across various departments and served as Deputy CFO since June 2021.
• Chandra Shekhar Ghosh, the founder, managing director, and CEO of Bandhan Bank, tendered his resignation on April 5, 2024. He plans to retire from the services of the bank at the end of his current tenure on July 9, 2024. His exit may delay Bandhan Bank’s recovery according to analysts.
• Awards & Honours:
• The late Russian dissident Aleksei Navalny and his wife, Yulia Navalnaya, have been honored with the Freedom Prize of the Media by a leading German forum, the Ludwig Erhard Summit. The award was reported on April 7, 2024.
• Obituaries:
• Joe Kinnear, the former Irish footballer and coach of the Indian national team, passed away at the age of 77 on April 7, 2024. He had a remarkable career both as a player and a manager, with significant contributions to clubs like Tottenham, Wimbledon, and Newcastle United.

Questions:

Q.1 What is the tagline for the new logo of Central Coalfields Limited?
a. “Fueling Growth”
b. “Sustainable Growth”
c. “Fuelling Sustainable Growth”
d. “Eco-friendly Growth
Q.2 Who was appointed as the CFO of South Indian Bank on April 5, 2024?
a. Ravi Kumar
b. Vinod Francis
c. Anand Sharma
d. Rajesh Verma