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WEEKLY CURRENT AFFAIRS 2024 (27th April to 4th May)

RBI in News  On May 2, 24, the Reserve Bank of India (RBI)

1. Worldline ePayments India Receives RBI imposed monetary penalties on three co-
Approval as Payment Aggregator operative banks for rule violations.
 These banks are Lokmangal Co-operative Bank,
The Udgir Urban Co-operative Bank, and The
Satara Sahakari Bank, RBI said in a release.
 The central bank imposed Rs 5 lakh penalty on
Lokmangal Co-operative Bank, Rs 2 lakh on
 Worldline ePayments India disclosed that it has
The Satara Sahakari Bank, and Rs 1 lakh on The
received authorization from the Reserve Bank
Udgir Urban Co-operative Bank, the release
of India (RBI) to function as an online payment
said.
aggregator (PA) under the Payment and
 A monetary penalty on Lokmangal Co-
Settlement Systems Act, 2007.
operative Bank was imposed as the bank did not
carry out periodic review of risk categorization
2. RBI Cancels Acemoney (India) NBFC License for
of accounts and did not carry out periodic
Irregular Lending Practices
updation of KYC as per the risk categorization
of the customers.

Economy
4. Record High GST Revenue Collection in April
2024

 The Reserve Bank of India (RBI) cancelled the

license of the Non-Banking Financial Company
(NBFC) due to its violation of the central bank's
guidelines concerning risk management and the
code of conduct regarding outsourcing financial
services.
 This violation specifically pertain to the NBFC's
digital lending operations conducted through
third-party apps.  In April 2024, the Gross Goods and Services
Tax (GST) collections soared to a record high of
3. RBI imposes monetary penalty on three co- Rs 2.10 lakh crore, marking a substantial 12.4%
operative banks for rule violations year-on-year growth.
 This growth was propelled by a robust increase
in both domestic transactions, which surged by
13.4%, and imports, which saw an 8.3% rise,
according to a statement from the Finance
Ministry.

5. Former BharatPe COO Dhruv Bahl Launches

Eternal Capital VC Fund

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 WEEKLY CURRENT AFFAIRS 2024 (27th April to 4th May)
 Former BharatPe COO Dhruv Dhanraj Bahl has
launched Eternal Capital, a venture capital fund
aiming to raise Rs 120 crore with a greenshoe
option to increase by another Rs 120 crore.
 The fund plans to support 40 early-stage
startups across various sectors over the next
three years.
6. Adani Green Energy Secures $400 Million
Finance for Solar Projects
 Adani Green Energy Ltd has secured a $400
million green loan for its ongoing solar projects
in Gujarat and Rajasthan.
 The lenders involved are DBS Bank, Intesa
Sanpaolo, MUFG Bank, Rabobank, and
Sumitomo Mitsui Banking.
National News
7. Coal India registers 18% growth in annual profit,
tepid income rise
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 National miner Coal India Limited (CIL)
registered a 17.8 percent jump in its year-on-
year (Y-o-Y) profit at Rs 37,369 crore for the
financial year 2023-24 (FY24). The revenue
from operations rose minimally by 3 percent to
Rs 1.38 trillion during FY24, while the net
income was up by a similar quantum to Rs 1.5
trillion.
 The company’s board also recommended a final
dividend of Rs 5 per share for the financial year
ending March 2024 subject to the nod from the
shareholders at the ensuing annual general
meeting of the company.
8. Trade deficit narrows slightly to $69.4 billion in
March, says US govt
 U.S. trade deficit narrowed in March due to a
decline in imports and a plunge in exports.
 On May 2, 2024, the deficit contracted by 0.1%
to $69.4 billion, according to the Commerce
Department's Bureau of Economic Analysis.
 February's data revised upward, showing a
wider trade gap of $69.5 billion compared to the
previously reported $68.9 billion.
 Economists surveyed by Reuters had
anticipated the deficit to increase to $69.1
billion in March.
9. ECI Launches Largest-Ever Voter Awareness
Drive For Lok Sabha Elections
 WEEKLY CURRENT AFFAIRS 2024 (27th April to 4th May)
 The Election Commission has launched its
largest-ever awareness campaign to boost
participation in the Lok Sabha Elections.
 It's collaborating with public and private
organizations for outreach. Despite a slight drop
in turnout in the first two phases compared to
2019, participation remains high, with 66.14%
in Phase 1 and 66.71% in Phase 2.
 The ECI is also addressing potential issues like
heatwaves by consulting weather, health, and
disaster management experts. The weather is
expected to be normal for the 11 States and UTs
voting in Phase 3.
10. IREDA Granted Prestigious ‘Navratna’ Status by
Government
 With its Navratna status, IREDA (Indian
Renewable Energy Development Agency
Limited) has gained substantial autonomy and
financial flexibility. The company can now
invest up to ₹1,000 crore without requiring prior
approval from the government.
 This increased authority enables IREDA to
make faster decisions and execute projects more
efficiently, ultimately contributi
International News
11. Zimbabwe Introduces New Currency
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 The new currency in Zimbabwe, referred to as
Zimbabwe Gold or ZiG, will feature the highest
denomination of the 200 ZiG note, valued at
around $15.
 As per directives from authorities, individuals
will be allowed to withdraw up to ZiG 3,000 per
week, while companies can withdraw up to ZiG
30,000.
12. Kathmandu Tops The List of Cities With
‘unhealthy air’ in the World
 Kathmandu ranked at the top of the list of cities
with 'unhealthy air' worldwide, according to
IQAir, an organization monitoring pollution
levels in 101 cities globally.
 IQAir's data revealed Kathmandu as the most
polluted city in the world in terms of real-time
pollution measurements.
Reports & Ranking
13. OECD raises India's FY25 GDP growth
projection by 40 basis points to 6.6%
 The Organisation for Economic Co-operation
and Development (OECD) on (2 May 2024)
raised its growth forecast for India by 40 basis
points to 6.6 percent for 2024-25, holding that
buoyant public investment and improved
business confidence are expected to propel
India’s gross domestic product (GDP) growth.
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 “Domestic demand will be driven by gross
capital formation, particularly in the public
sector, with private consumption growth
remaining sluggish.
 Exports will continue to grow, especially of
services such as information technology and
consulting, where India will continue to
increase its global market share, supported by
foreign investment,” the inter-governmental
group of 38 high-income economies said in its
latest Economic Outlook.
Agreement & MoU
14. NPCI, Bank of Namibia ink an agreement to
develop UPI-like system
 The Ministry of Mines organized a summit in
New Delhi aimed at fostering collaboration,
knowledge sharing, and innovation in critical
mineral beneficiation and processing. Secretary
VL Kantha Rao highlighted India's need for
rapid economic growth and clean energy,
stressing the importance of exploring critical
minerals.
 He mentioned recent auctions of mineral blocks
and expected future auctions.
 A memorandum of understanding was
exchanged to provide knowledge support in
critical minerals. Exhibition pavilions
showcasing minerals were also set up at the
summit.

Book and author

16. EAM Jaishankar Receives Book ‘India’s Nuclear
Titans’

 NPCI International Payments Limited (NIPL),

the international arm of the National Payments
Corporation of India (NPCI), on May 2, 2024,
agreed with the Bank of Namibia (BoN) to
develop an instant payment system like Unified
 External Affairs Minister S Jaishankar was
Payment Interface (UPI) for the African nation.
presented with a copy of the book 'India's
 This partnership marks NPCI’s first-ever
Nuclear Titans' edited by Soumya Awasthi and
collaboration with a central bank to deploy the
Shrabana Barua.
UPI stack in an international market.
 He emphasized the significance of
 The collaboration is aimed at developing real-
acknowledging the contributions made by these
time person-to-person (P2P) and person-to-
nuclear pioneers for the benefit of future
merchant (P2M) transactions in Namibia.
generations.
Summit & Conference
Science and technology
15. Mines Ministry Organizes Critical Minerals
17. China Launches Shenzhou-18 Crew to Tiangong
Summit
Space Station

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 WEEKLY CURRENT AFFAIRS 2024 (27th April to 4th May)
 Three crew members of Shenzhou 18
successfully entered the Tiangong Space
Station.
 They were warmly greeted by the Shenzhou 17
trio and together, the six Chinese astronauts
took a "family photo."
18. IIT Guwahati Introduces Innovative 3D Printed
Dummy Ballot Unit
 The Systematic Voters' Education and Electoral
Participation Cell (SVEEP) of Kamrup Election
District has collaborated with the Indian
Institute of Technology Guwahati to create a
novel 3D printed dummy ballot unit.
 This innovative tool aims to familiarize citizens,
especially first-time voters and senior citizens,
with the voting process, easing any concerns or
uncertainties they may have.
Appointments
19. Sunil Kumar Yadav (IRS) Appointed as Director
of Ministry of Housing & Urban Affairs
 Sunil Kumar Yadav, an officer from the Indian
Revenue Service (IRS), has been appointed as
the Director of the Ministry of Housing &
Urban Affairs.
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 This move marks a significant addition to the
leadership team of the Ministry, enhancing its
capabilities in addressing housing and urban
development challenges in India.
20. Justice Dinesh Kumar Appoints as the SAT
Presiding officer
 Justice (retired) Dinesh Kumar assumed the role
of Presiding Officer of the Securities Appellate
Tribunal (SAT) on April 29, 2024.
 His appointment by the Government of India
spans a four-year term.
21. Centre approves appointment of Sanjaya Kumar
Mishra as President, GSTAT
 The Appointment Committee of the Cabinet has
approved the appointment of Sanjaya Kumar
Mishra, former Chief Justice of Jharkhand High
Court, as President of the GST Appellate
Tribunal (GSTAT) for a four-year term.
 The selection was based on the
recommendations of a Search-Cum-Selection
Committee, aiming to expedite the tribunal's
functionality. The Centre aims to make the
tribunal operational by July 1.
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22. Geetika Sharma made Deputy Secretary Ministry
of Mines, Rajan Sharma appointed Deputy
Secretary CIC
 Geetika Sharma, an IAS officer of the 2012
AGMUT cadre, has been appointed as Deputy
Secretary in the Ministry of Mines, Delhi, for
four years, highlighting the government's
emphasis on strengthening the mining sector.
 Pratima Singh, from the IRS C&CE batch of
2009, is now Director at the Office of Promotion
of Industry and Internal Trade, Delhi.
 Rajan Sharma is the new Deputy Secretary at
the Central Information Commission, Delhi, for
a four-year term, reflecting efforts to improve
information governance.
 Shashi Bhushan Singh, an IRTS officer from the
2010 batch, has been appointed as Secretary at
Director level in the National Jute Board,
Kolkata, under the Ministry of Textiles.
Obituaries
23. Renowned Journalist Vinay Vir Passes Away at
72
 Vinay Vir, a distinguished journalist, publisher,
and editor of the Daily Hindi Milap, breathed
his last on Saturday, April 27th, 2024, at the age
of 72.
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 He was celebrated as a champion for the Hindi
language in South India and held in high regard
within the journalism community. His
contributions will be remembered fondly.
Important Days
24. International Labour Day observes on 1st May
 In 1889, various socialist parties in Europe
united to declare May 1 as International Labour
Day, commemorating workers' rights and the
struggle for better working conditions.
 Since then, this significant day has been
observed annually on May 1, globally
recognizing the contributions and achievements
of workers worldwide.
25. Sana Mir Named Ambassador of ICC Women’s
T20 World Cup Qualifier
 The ICC has named Pakistan legend Sana Mir
as the ambassador for the ICC Women’s T20
World Cup Qualifier, supported by Dream11.
 With vast experience, having played 226
internationals and captained 137 of them, Sana
will closely observe the 10 participating teams
during the two-week tournament.
 She anticipates an exciting competition for the
two finalist spots for the ICC Women’s T20
World Cup in Bangladesh, with matches in Abu
Dhabi running from April 25 to May 7.
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26. Yuvraj Singh Named ICC Men’s T20 World Cup  Gayle and Usain Bolt have been appointed as
2024 Ambassador brand ambassadors for the ICC Men's T20
World Cup, joining Yuvraj Singh, who will play
a crucial role in the 2024 edition.
 Yuvraj Singh joins the previously announced
ambassadors, Chris Gayle and Usain Bolt.
 Usain Bolt, the Jamaican international sprinter
and eight-time Olympic gold medalist, adds his
star power to the lineup.

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