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Daily Current Affairs 5th April, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 5th April, 2024. It includes all Major National, International, Business and Sports related current affairs of 5th 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 5th April, 2024 Current affairs test.

National News

India’s Initiative on First Privately Managed Strategic Petroleum Reserve by 2029-30

  • India is taking a significant step towards the establishment of its inaugural strategic petroleum reserve (SPR) that will be privately operated, aiming for completion by the 2029-30 timeframe.
  • This move is designed to grant the managing entity the freedom to trade the entirety of the oil stored, mirroring practices observed in nations like Japan and South Korea. Currently, India’s SPR strategy is partially commercial, with intentions to further this model in upcoming SPR endeavors.

International News

NATO Marks 75th Anniversary of Its Foundation

  • The North Atlantic Treaty Organization (NATO) is celebrating 75 years since its establishment this year. To commemorate this landmark anniversary, a celebratory event is slated to take place in Brussels, Belgium.
  • Originating in 1949 with 12 founding members, including the United States, Canada, and several countries from Western Europe, NATO has seen its membership nearly triple over the years, now including 30 nations.
  • Finland joined as the 31st member in April 2023, while Sweden’s accession as the 32nd member has been approved, pending Hungary’s ratification.

Romania Showcases the World’s Strongest Laser

  • A Romanian research facility has unveiled what is currently the most powerful laser in existence, a development that builds upon the pioneering work of Nobel Physics Laureates Gerard Mourou and Donna Strickland.
  • Managed by Thales, a French firm, the laser is anticipated to bring about transformative advancements across various industries, from medical to space exploration.

Zimbabwe Announces State Of Disaster Amid Severe Drought

  • A significant drought attributed to El Niño has prompted Zimbabwe, alongside Zambia and Malawi, to declare a state of disaster.
  • The drought, which has been intensified by climate change, has resulted in sub-par rainfall, impacting over 80% of Zimbabwe and leading to acute food shortages and humanitarian issues throughout the region, as stated by President Emmerson Mnangagwa.

Appointments News

World Bank Welcomes Rakesh Mohan to Economic Advisory Panel

  • Rakesh Mohan, the former Deputy Governor of the Reserve Bank of India (RBI), has been appointed by the World Bank Group to its Economic Advisory Panel, with Lord Nicholas Stern of the London School of Economics presiding as chair and World Bank Group Chief Economist Indermit Gill serving as co-chair.

Banking News

Steadfast RBI Monetary Policy; Repo Rate Unchanged

  • The RBI’s Monetary Policy Committee has, by a 5:1 majority, opted to maintain the current policy rates, as announced by Governor Shaktikanta Das on April 5.
  • This decision marks the seventh consecutive time the policy rate has remained stable at 6.5 percent, with both the Marginal Standing Facility (MSF) and Bank rates holding at 6.75 percent, signaling a decline in core inflation.
  • This announcement was part of the initial bi-monthly monetary policy for the fiscal year 2024-25.

UPI Transactions Experience Significant Growth, According to Worldline Report

  • A report by Worldline indicates a remarkable 56% year-over-year increase in UPI transactions in India for the latter half of 2023, significantly outperforming the 6% growth in card transactions.
  • The report highlights an increase in UPI transaction volumes to 65.77 billion, up from 42.09 billion, with transaction values also rising by 44% to Rs 99.68 trillion from Rs 69.36 trillion.

Defence News

DRDO’s Successful Test Flight of Agni-Prime Ballistic Missile

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  • The Defence Research and Development Organisation (DRDO), in collaboration with India’s Strategic Forces Command (SFC), has successfully executed a flight test of the Agni-Prime, a next-generation ballistic missile.
  • The test took place at Dr APJ Abdul Kalam Island off the coast of Odisha, with comprehensive data capture facilitated by various range sensors and downrange ships.
  • The event was attended by high-ranking defence officials, including the Chief of Defence Staff and the Chief of the Strategic Forces Command.

DRDO Begins Weapon Systems Test Centre Project in West Bengal

  • The DRDO has initiated a project in Junput village, West Bengal, for a new test centre intended for the nation’s weapon systems.
  • This project aims to complement the existing testing facilities at Chandipur Integrated Test Range (ITR) in Odisha by providing an additional venue for operational testing.

Sports News

Bindyarani Devi Secures Bronze; Mirabai Chanu Ensures Spot at Paris Olympics 2024 During IWF World Cup

  • At the IWF World Cup 2024 in Phuket, Thailand, Indian weightlifter Bindyarani Devi earned a bronze medal in the women’s 55kg category.
  • This event, running from March 31 to April 11, 2024, was hosted by the International Weightlifting Federation (IWF).

Ranks and Reports News

WEF Introduces 2024 Young Global Leaders

  • The World Economic Forum (WEF) has unveiled its 20th Young Global Leaders Community for the Class of 2024.
  • The group comprises nearly 90 individuals under 40 years old from various sectors, including politics and academia.
  • Among this year’s members are five Indians from different fields, ranging from Bollywood to business and social entrepreneurship.

Science and Technology News

Meta Enhances Fact-Checking Efforts in India with PTI

  • Meta has broadened its fact-checking program in India through a collaboration with the Press Trust of India (PTI).
  • This partnership designates PTI as a specialized fact-checking division within its editorial team, aimed at combating misinformation across Meta’s platforms.

Important Days

International Day of Conscience and National Maritime Day Observances

  • The International Day of Conscience is observed on April 5, promoting self-reflection and moral integrity under the theme ‘Promoting a Culture of Peace with Love and Conscience’.
  • Meanwhile, National Maritime Day, also celebrated on April 5, honors the pivotal role of maritime activities in India’s economic development, commemorating the historic voyage of SS Loyalty in 1919.

260th Anniversary of Army Medical Corps

  • The Army Medical Corps marked its 260th anniversary on April 3, 2024, celebrating centuries of dedication and service under the motto ‘Sarve Santu Niramaya’.

Obituaries News

Passing of Tamil Actor Visheshwara Rao

  • Veteran Tamil actor Visheshwara Rao passed away at the age of 64 on April 2, following a prolonged battle with cancer.

Miscellaneous News

Goa’s Manohar International Airport Introduces Digi Yatra System

  • Manohar International Airport in Mopa, Goa, has implemented the Digi Yatra system, becoming the 14th Indian airport to adopt this technology for enhancing passenger experience through automated verification processes.
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