HDFC becomes the first private bank to open a branch in Lakshadweep


1 HDFC becomes the first private bank to open a branch in Lakshadweep

Private lender  HDFC Bank  has  opened a branch in  Kavaratti island   of  Lakshadweep ,  making it the only private sector bank to have a presence in the Union Territory . This branch aims to upgrade the banking infrastructure in Lakshadweep by offering a wide range of services with a focus on personal banking and digital banking solutions. The branch will provide customized digital solutions including QR-based transactions for retailers to meet the financial needs of individuals, families and businesses in the region.

2 SNA is organizing ‘Shakti-Mahotsav of Music and Dance’ at 7 Shaktipeeths

Sangeet Natak Akademi (SNA)  is organizing the Mahotsav, ‘ A Festival of Shakti-Music and Dance ‘  in  seven  different Shaktipeeths of the country from 9 to 17 April 2024. SNA, under the Kala Pravah series, is organizing an event named ‘ A Festival of Shakti Music and Dance ‘ to revive the temple traditions in the country . This celebration is being held during the holy Navratri in April 2024. Since Navratri symbolizes the power of nine goddesses. Hence SNA is celebrating temple traditions in seven Shaktipeeths in different parts of the country from 9 to 17 April 2024. Shakti Utsav was inaugurated on 9 April 2024 at Kamakhya Temple in Guwahati. After this, this festival will be organized in seven different Shaktipeeths of the country.

3 India invoked peace clause in WTO for the fifth consecutive time

India   has once again invoked the peace clause  at  the World Trade Organization (WTO) for  the fifth consecutive time,  citing rice subsidies exceeding the prescribed limit  during  the marketing year 2022-23 . Despite violating the 10% domestic support limit, India does not face any immediate impact due to the peace clause provision agreed at the 2013 Bali Ministerial Meeting. India’s rice production in 2022-23 was estimated at $52.8 billion, with a total subsidy of $6.39 billion, which was 2% above the 10% domestic support limit. Although this violation is acknowledged, penalties under the peace clause agreement do not apply.

4 Indian Meteorological Department (IMD) conducts pre-cyclone drills for April-June 2024 season

India Meteorological Department (IMD) conducted pre-cyclone exercise for April-June 2024 season  in hybrid mode at  Mausam Bhawan, New Delhi  under the chairmanship of   Dr. Mrityunjay Mohapatra, Director General,  IMD.  conducted The exercise was a part of the biennial exercise conducted in the pre-cyclone season and post-cyclone season to take stock of the preparedness of various stakeholders in disaster management. “India has one of the best early warning systems and weather forecasting models,” the IMD Director General said. He highlighted the achievements of IMD in recent times in cyclone forecasting along with the continuous collaboration of National Disaster Management Authority, National Disaster Response Force and Indian Armed Forces like Army, Navy Air Force, Coast Guard etc.

5 Unicorn creation pace slows down in India: Hurun Unicorn Index 2024

 According to the  Hurun Global Unicorn Index 2024 report, the pace of creation of unicorn startups in India  has slowed down since 2017 . However,  India  is still the third largest concentration of unicorns in the world, after the United States and China . The Hurun Global Unicorn Index has been published since 2000 and ranks the world’s most valuable startups. This index includes only those startups which have a valuation of at least one billion US dollars and are not listed on any stock exchange. According to Hurun Research, there were 1,453 unicorns in 291 cities in 53 countries globally. According to the report, in 2023, one unicorn will be created every two minutes in the world. The San Francisco Bay Area, located in California, United States, has maintained its status as the Unicorn Capital of the World. The famous Silicon Valley is located in the city of San Francisco. Singapore has emerged as the fastest growing hub for unicorns.

6 Tissue Culture Laboratory at Asola Bhati Wildlife Sanctuary

Recently,  Delhi Forest Department  has   taken initiative to establish a tissue culture lab  in  Asola Bhati Wildlife Sanctuary for  the conservation of rare native trees  . The primary objective of the lab is to grow endangered native trees in a controlled environment in Delhi and to revive plant species facing regeneration challenges due to invasive species. The laboratory will be able to extract plant tissues from in-vitro fully grown plants, allowing multiple trees to be grown from a single tree. For this, the Forest Department will take help from botanists and scientists of the Indian Council of Forestry Research and Education (ICFRE) and Forest Research Institute (FRI).

7 Asian Development Bank increased India’s GDP growth forecast

The Asian Development Bank (ADB)  has  raised India’s GDP growth  forecast   for  the current financial year (FY25) to 7% from the previous estimate of 6.7%  . This growth will be driven by strong investment in the public and private sectors as well as improving consumer demand.  ADB  has projected India’s growth rate to be 7.2%  for the financial  year 2025-26. The growth projection for the current fiscal year is lower than the 7.6% projected GDP expansion in the 2022-23 fiscal year, where strong investment was the primary driver.

8 ICICI Lombard partners with Policybazaar

Private sector general insurance company   ICICI Lombard General Insurance Company has  partnered  with Policybazaar . This strategic partnership brings together ICICI Lombard’s broad product portfolio and PolicyBazaar’s extensive reach, making it easier for Indian consumers to access insurance solutions. ICICI Lombard shares closed at 1696.90.

9 11 April: World Parkinson’s Day

World Parkinson’s Day  is celebrated every year   on  11 April across the world. The purpose behind celebrating this day is to make more and more people aware about this disease. Despite this, there are still millions of people who do not even know the name of this disease. Actually, people consider Parkinson’s disease to happen to the elderly, but let us tell you, this disease can happen to the youth also.  Dr. James Parkinson  was born on  11 April 1755  . He discovered the first case of neurodegenerative disorder in 1817. To honor his contribution, World Parkinson’s Day is celebrated every year on 11 April since 1997.