Today's Current Affairs 5th April 2024

INTERNATIONAL

Zimbabwe Declares State of Disaster over Devastating Drought

• Zimbabwe, along with Zambia and Malawi, has declared a state of disaster due to a severe drought sweeping across southern Africa.
• President Emmerson Mnangagwa cited an “El Nino-induced drought” causing below-normal rainfall, affecting over 80% of the country. 

Romania Unveils World’s Most Powerful Laser

• A research center in Romania has revealed the world’s most potent laser, based on the groundbreaking inventions of Nobel Physics Prize winners Gerard Mourou and Donna Strickland.
• The heart of this groundbreaking laser lies in Chirped-Pulse Amplification (CPA) technology, developed by Mourou and Strickland. 

NATIONAL

India to Establish First Privately Managed Strategic Petroleum Reserve by 2029-30

• India is embarking on establishing its first privately managed strategic petroleum reserve (SPR) by 2029-30.
• It’s aligning with models seen in countries such as Japan and South Korea.
• India plans to construct two new SPRs, including an 18.3 million barrels facility in Padur, Karnataka, and a 29.3 million barrels SPR in Odisha. 

SCIENCE AND TECHNOLOGY

DRDO successfully conducted a flight test of the new generation ballistic missile called ‘Agni-Prime

• The Defence Research and Development Organisation (DRDO) and India’s Strategic Forces Command (SFC) have successfully conducted a flight test of the new generation ballistic missile called ‘Agni-Prime’.
• The test occurred at Dr APJ Abdul Kalam Island, off Odisha’s coast.
• Agni-P, also known as Agni-Prime, is a medium-range ballistic missile (MRBM) developed by DRDO.

About DRDO

Founded: 1958;

Headquarters: DRDO Bhavan, New Delhi;

Agency executive: Sameer V. Kamat, Chairman, DRDO. 

APPOINTMENTS AND RESIGNATIONS

Rakesh Mohan Appointed to World Bank Economic Advisory Panel

• The World Bank Group has appointed former Reserve Bank of India (RBI) deputy governor Rakesh Mohan as a member of its Economic Advisory Panel.
• This panel will be chaired by Lord Nicholas Stern, the IG Patel Professor of Economics and Government at the London School of Economics.
• World Bank Group Chief Economist Indermit Gill will co-chair the panel.

About World Bank:

Headquarters: Washington, D.C., United States;

Founded: July 1944, Bretton Woods, New Hampshire, United States;

President: Ajay Banga;

Founders: John Maynard Keynes, Harry Dexter White;

CFO: Anshula Kant. 

IMPORTANT DAYS

NATO Celebrates 75 Years of Collective Defense

• The North Atlantic Treaty Organization (NATO) is marking its 75th anniversary this year.
• The alliance, founded in 1949, will hold a special event in Brussels, Belgium to commemorate this milestone.
• NATO was originally founded by 12 countries, including the United States, Canada, and several Western European nations.

About NATO:

Secretary-General: Jens Stoltenberg;

Founded: 4 April 1949, Washington, D.C., United States;

Headquarters: Brussels, Belgium.

 

260th Raising Day of Army Medical Corps

• The Army Medical Corps (AMC) celebrated its 260th Raising Day on 03rd April 2024. Raised in the year 1764.
• The Chief of Army Staff, Gen Manoj Pande, and the Chief of Air Staff, Air Chief Marshal VR Chaudhari, attended an event in New Delhi.

About Army Medical Corps:

Founded: 3 April 1943;

Corps Lieutenant: General Daljit Singh. 

National Maritime Day 2024

• National Maritime Day is observed annually on April 5 in India.
• On April 5, 1919, the first Indian commercial ship, SS Loyalty, embarked on a journey to the United Kingdom, breaking the British monopoly on sea routes.
• The theme for National Maritime Day 2024 is “Navigating the future: safety first!” 

BANKING AND ECONOMY

Government Approval of Onion Export to Friendly Countries

• In response to requests from friendly nations including Bangladesh, the United Arab Emirates, Bahrain, Mauritius, and Bhutan, the Indian government has granted approval for the export of onions.
• India, a significant global exporter of onions, had enforced a ban on onion exports in December 2023.
• India has agreed to export 50,000 tonnes of onions to Bangladesh, 550 tonnes to Bhutan, 3,000 tonnes to Bahrain, 1,200 tonnes to Mauritius, and 14,400 tonnes to the United Arab Emirates. 

RBI Monetary Policy, Repo Rate to Remain Steady for Seventh Time

• RBI Monetary Policy Committee has decided by majority 5:1 to keep policy rates unchanged, Governor Shaktikanta Das announced on April 5.
• It is the first bi-monthly monetary policy of 2024-25. The Reserve Bank of India (RBI) Governor also announced MSF & Bank rates to continue to be at 6.75%. The Reserve Bank of India (RBI) Governor has kept the policy rate unchanged at 6.5 per cent.