Daily Current Affairs 4th April, 2023

Daily Current Affairs 4 April 2023 for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

PM Modi invited to France for Bastille Day parade
Indian Prime Minister Narendra Modi has been invited to France for the Bastille Day parade, which is scheduled for July 14th.

• The invitation was extended by French President Emmanuel Macron, who expressed his desire to strengthen the bilateral ties between the two countries.

China renames 11 places in Arunachal Pradesh, calls it ‘southern Tibet’
In an intensified effort to emphasise its claim over India’s Arunachal Pradesh, China has come up with a third set of names for 11 places in Arunachal Pradesh, which it referred to as “Zangnan, the southern part of Tibet”.

• China’s Ministry of Civil Affairs released the standardised names in Chinese, Tibetan, and Pinyin characters following regulations on geographical names issued by the State Council, China’s cabinet.
• The list includes precise coordinates for two land areas, two residential areas, five mountain peaks, and two rivers, along with their subordinate administrative districts.

INTERNATIONAL NEWS

After banning ChatGPT, Italy now planning to ban English language
In a startling move, the Italian government has announced that it plans to ban the English language and impose heavy fines on individuals and organizations that continue to use it.

• The announcement comes just weeks after the ban on ChatGPT, a language model developed by OpenAI. The decision has been met with widespread criticism and has raised questions about Italy’s commitment to international cooperation and its position in the global economy.

Georgia passes resolution condemning Hinduphobia
Georgia Assembly has passed a resolution that condemns Hinduphobia and anti-Hindu bigotry, making it the first state in America to take such legislative action.

• The resolution highlights that Hinduism is a diverse religion with over 1.2 billion adherents worldwide, and it promotes values of acceptance, mutual respect, and peace.
• The resolution recognizes the contributions of the American-Hindu community in various fields, such as science, medicine, engineering, and hospitality. Additionally, the resolution acknowledges the contributions of yoga, meditation, ayurveda, music, and art, which have enriched American culture.

BANKING & FINANCE

UPI processes 8.7 bln transactions in March, highest ever since inception
India’s flagship digital payment platform, Unified Payments Interface (UPI), ended the financial year (FY23) on a high, with March seeing 8.7 billion transactions being processed on the platform, the highest ever since its inception, amounting to Rs 14.05 trillion. This is another record high for the platform.

• According to National Payments Corporation of India’s (NPCI) data, UPI transactions in March 2023 were over 60 per cent and 46 per cent higher in volume and value terms from the year-ago period. Last year in March, UPI had processed 5.4 billion transactions, amounting to Rs 9.6 trillion.
• UPI processed 8 billion transactions for the first time in January, but transactions dipped slightly in February due to fewer days in the month.

BUSINESS & ECONOMY

OPEC+ makes over 1 million-barrel oil production cut
Oil cartel OPEC+ made a surprise announcement that it plans to reduce crude oil production by 1.15 million barrels per day (mbpd), which is estimated to translate into a reduction of almost 1 per cent in daily global supplies.

• The production cuts will begin in May and last until December 2023. The announcement sent global oil markets into flux with crude prices surging high. Brent crude jumped by 5 per cent, trading at nearly $84.

India GDP growth likely to moderate to 6.3% in FY24: World Bank
India GDP growth is expected to moderate to 6.3 per cent in FY24 due to shrinkage in consumption on back of slower income, said World Bank in its report.

• The World Bank has lowered its forecast for India’s economic growth in the current fiscal year from 6.6%.
• To tame inflation, the Reserve Bank of India has raised interest rates by 250 basis points since May 2022.

APPOINTMENTS

NASA names woman, Black astronauts to Artemis II crew in lunar first
NASA named the first woman and the first African American ever assigned as astronauts to a lunar mission, introducing them as part of the four-member team chosen to fly on what would be the first crewed voyage around the moon in more than 50 years.

• Christina Koch, 44, an engineer who already holds the record for longest continuous spaceflight by a woman and was part of NASA’s first three all-female spacewalks, was named as a mission specialist for the Artemis II lunar flyby expected as early as next year.

Sheenu Jhawar becomes the first woman President of TiE Rajasthan
The Indus Entrepreneurs (TiE) Rajasthan has appointed Dr. Sheenu Jhawar as the new President for a term of two years, from 2023 to 2025.

• This marks a historic moment as Dr. Jhawar becomes the first woman to hold this position in the 21-year history of TiE Rajasthan. She takes over from Dr. Ravi Modani, who had been leading the chapter effectively since 2021.

ENVIRONMENT

In a first, Eravikulam National Park gets a fernarium
Eravikulam National Park in Munnar, Kerala, which is home to the Nilgiri tahr, now features a new attraction: a fernarium located within the park. This is the first instance of a fern collection being established in the hill station, according to officials. The fern park is located close to the orchidarium and will be accessible to the public starting from April 20th.

• The Eravikulam National Park is known for its diverse range of flora and fauna, and the introduction of the fernarium is a step towards educating visitors about the park’s biodiversity.
• Ferns belong to the Epiphytic family and are known to grow naturally in a soilless environment. These plants absorb water and nutrients by leaching them from trees. A significant number of ferns can be found growing on the trees within the park.

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