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Daily Current Affairs 3rd April, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 3rd April, 2024. It includes all Major National, International, Business and Sports related current affairs of 3rd April, 2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 3rd April, 2024 Current affairs test.

National News

Inauguration of Param Vir Chakra Garden by Governor R.N. Ravi

  • The Governor of Tamil Nadu, R.N. Ravi, recently officiated the opening of the Param Vir Chakra garden alongside the Aikyam exhibition at Kanchi Mahaswami Vidya Mandir located in Tambaram.
  • His attendance was marked alongside notable figures including Lt. Gen. Karanbir Singh Brar, who has been awarded the Ati Vishisht Seva Medal (AVSM) and currently serves as the General Officer Commanding of the Dakshin Bharat area, and V.Shankar, the chairman of the Sri Kanchi Mahaswami Trust.

International News

‘Artificial Sun’ in South Korea Achieves a New Milestone

  • A groundbreaking achievement was accomplished in South Korea with their Korea Superconducting Tokamak Advanced Research (KSTAR) reactor, also known as the “artificial sun.”
  • The facility set a new world record by maintaining plasma temperatures of 100 million degrees Celsius for a continuous 48 seconds, during a series of tests from December 2023 to February 2024.

Germany Endorses Recreational Cannabis

  • As of April 1, 2024, Germany has become the most populous country within the European Union to sanction the recreational use of cannabis.
  • This new regulation allows individuals over the age of 18 to possess up to 25 grams of dried cannabis and to grow up to three cannabis plants at home, notwithstanding the objections from some political and medical circles.

Appointments News

Sandeep Jain to Lead FISME

  • Following a unanimous decision, Sandeep Jain, a distinguished alumnus of IIT-Kanpur and an entrepreneur in the auto-component sector, has been elected as the President of the Federation of Indian Micro and Small & Medium Enterprises (FISME) for 2024-25.
  • This decision came during a meeting of the Central Executive Committee in New Delhi, as per FISME’s tradition of annual leadership rotation.

New Leadership for the Department of Electronics and Mechanical Engineers

  • The Department of Electronics and Mechanical Engineers (DGEME) and the EME Corps will now be led by Lieutenant General JS Sidana as the 33rd Director General and Senior Colonel Commandant, starting from April 1, 2024.

Sanjay Nayar Takes Over as ASSOCHAM President

  • Sanjay Nayar has been appointed as the President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM), taking over from Ajay Singh, the co-founder of SpiceJet, at the conclusion of his term.

Leadership Change at Konkan Railway Corporation

  • The Konkan Railway Corporation Ltd. (KRCL) will see Santosh Kumar Jha, a 1992 batch Indian Railway Traffic Services (IRTS) officer, taking charge as its Chairman and Managing Director (CMD) from April 1, 2024.

Banking News

RBI Plans DIGITA to Counter Illegal Lending Apps

  • The Reserve Bank of India is considering the creation of the Digital India Trust Agency (DIGITA) to address the challenge of illegal lending applications, aiming to enhance cybersecurity and combat fraudulent activities in digital lending.

AU Small Finance Bank and Fincare Small Finance Bank Merger

  • In a notable move within the banking industry, AU Small Finance Bank and Fincare Small Finance Bank have merged through an all-stock transaction effective from April 1, 2024. This merger is expected to boost AU SFB’s footprint in South India and expand its customer base and distribution channels.

Economy News

SEBI Launches SCORES 2.0 for Enhanced Investor Grievance Redressal

  • The Securities and Exchange Board of India (SEBI) has introduced an upgraded version of its Complaint Redress System, known as SCORES 2.0.
  • The enhanced system is designed to streamline the process of addressing investor grievances with automated routing and oversight by designated authorities.

World Bank Optimistic About India’s Economic Growth

  • For the fiscal year 2024-25, the World Bank has revised India’s GDP growth forecast to 6.6%, signaling a steady yet moderated growth outlook.
  • This growth is expected to contribute significantly to the economic dynamics of South Asia, surpassing other emerging markets and developing economies.

Business News

Paradip Port Leads in Cargo Handling

  • Odisha’s Paradip Port Authority has overtaken the Deendayal Port Authority, Kandla, to become the leading cargo-handling port in India for the fiscal year 2023-24, with a total of 145.38 Million Metric Tons (MMT) of cargo handled, showing a 7.4% increase from the previous year.

Tata Technologies and BMW Joint Venture

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  • A new partnership between Tata Technologies and BMW Group will see the establishment of a center focused on automotive software and IT development in Chennai, Pune, and Bengaluru, underscoring Chennai’s role as a major hub for IT solutions in the automotive sector.

PepsiCo’s New Flavor Manufacturing Facility in Ujjain

  • PepsiCo India has announced an investment of ₹1,266 crore to set up a state-of-the-art flavor manufacturing plant in Ujjain, Madhya Pradesh.
  • Expected to begin operations in early 2026, this move signifies a major boost for both the company and the local economy.

Defence News

India’s Defence Exports Hit a New High

  • The Ministry of Defence revealed that India’s defence exports for the fiscal year 2023-24 reached an all-time high of Rs 21,083 crore, registering a growth of 32.5% over the previous year.
  • This success is credited to the collective efforts of the private sector and Defence Public Sector Undertakings (DPSUs), along with policy reforms promoting business ease.

Agreements News

IOCL and Panasonic Energy’s Joint Venture for Lithium-ion Cell Production

  • Indian Oil Corporation Ltd. (IOCL) and Panasonic Energy have entered into a joint venture to manufacture lithium-ion cells in India, a strategic move aimed at catering to the increasing demand for electric vehicles (EVs) and energy storage solutions.

Schemes News

Implementation of ‘One Vehicle, One FASTag’ Norm

  • The National Highways Authority of India (NHAI) has enforced the ‘One Vehicle, One FASTag’ rule, aimed at eliminating the misuse of a single FASTag across multiple vehicles or linking several FASTags to one vehicle.

Science and Technology News

125th Anniversary of Kodaikanal Solar Observatory

  • The Kodaikanal Solar Observatory, situated in the scenic Palani Hills of Tamil Nadu, celebrated its 125th anniversary.
  • The event, hosted by the Indian Institute of Astrophysics, commemorated the observatory’s contributions to solar research over more than a century.

Sports News

Maharashtra Dominates at National Kho Kho Championship

  • The 56th National Kho Kho Championship saw Maharashtra clinching titles in both the men’s and women’s categories.
  • The championship took place in Delhi, at the Karnail Singh Stadium and the Indira Gandhi Indoor Stadium.

Obituaries News

Passing of Veteran Actress Barbara Rush

  • Barbara Rush, celebrated for her role in the 1954 science-fiction hit “It Came from Outer Space,” has passed away at the age of 97.
  • Her performance in the film had previously earned her the Golden Globe Award for Most Promising Newcomer.
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