National News

India’s Growing Dependence on Chinese Imports: A Cause for Concern

A report by the Global Trade Research Initiative (GTRI) highlights India’s escalating dependence on Chinese imports, with the import bill surging to over $101 billion in 2023-24 from around $70 billion in 2018-19. Over the past fifteen years, China’s share of India’s industrial goods imports has risen significantly, reaching 30%, while imports from China have outpaced India’s total imports by 2.3 times.

International News

Zimbabwe Introduces New Currency Amid Skepticism

Zimbabwe has launched a new currency called the ZiG (short for Zimbabwe Gold) in an attempt to address the country’s long-running currency crisis. The ZiG, backed by Zimbabwe’s gold reserves, was introduced electronically in early April and has now been released in banknote and coin form.

Argentine Scientists Unveil Discovery of Speedy 90-Million-Year-Old Herbivore Dinosaur

Paleontologists from Argentina have revealed the unearthing of a novel medium-sized herbivorous dinosaur, Chakisaurus nekul, which thrived approximately 90 million years ago during the Late Cretaceous period in present-day Patagonia. The finding, detailed in the journal Cretaceous Research, sheds light on a remarkable creature known for its speed and unique tail anatomy.

States News

Uttarakhand Suspends Licences of 14 Patanjali Ayurved Products

The Uttarakhand government has suspended the manufacturing licenses of 14 products from Patanjali Ayurved, founded by Baba Ramdev, citing misleading advertisements about their efficacy. This move comes amid ongoing scrutiny and legal proceedings against Ramdev for non-compliance with directives to cease misleading advertising.

Banking News

Cred’s New Offline QR Code ‘Scan & Pay’ Service Revolutionizes Payment Landscape

In a strategic move, Cred has launched an innovative UPI-based ‘Scan and Pay’ service, marking its entry into the offline payments sphere, challenging incumbents like PhonePe, Google Pay, and Paytm. This service allows users to make payments directly from their bank accounts using any QR code, extending convenience to large format stores such as supermarkets, fast-food joints, beauty salons, and fashion boutiques.

RBI Cancels Acemoney (India) NBFC License for Irregular Lending Practices

The Reserve Bank of India (RBI) has revoked the license of Acemoney (India) Limited, a Delhi-based non-banking financial company (NBFC), citing irregular lending practices. This action stems from the company’s violation of RBI guidelines regarding excessive interest charges and inadequate protection of customer information. Specifically, the RBI noted discrepancies in Acemoney’s management of risks and code of conduct in its digital lending operations through third-party apps.

Economy News

India Reduces Windfall Tax on Petroleum Crude

India has adjusted its windfall tax on petroleum crude, reducing it to 8,400 Indian rupees ($100.66) per metric ton from 9,600 rupees, effective May 1. This decision comes after a recent increase in the tax from 6,800 rupees to 9,600 rupees per metric ton on April 16.

Appointment News

Justice Dinesh Kumar Appointed as the SAT Presiding officer

Justice (retired) Dinesh Kumar took charge as the Presiding Officer of the Securities Appellate Tribunal (SAT) on 29 April 2024. The government of India appointed Justice Dinesh Kumar for a four-year term. Before taking over as the presiding officer of SAT, Justice Dinesh Kumar was the chief justice of the Karnataka High Court. He retired from the post in February 2024.

Agreement News

India and Europe to Strengthen 6G Collaboration

India’s Bharat 6G Alliance is set to sign a cooperation agreement with Europe’s Industry Alliance 6G, following a similar agreement with the US. This partnership aims to foster collaboration in developing 6G technology.

Sports News

Kenyan Dominance at TCS World 10K Bengaluru

The 16th edition of the Tata Consultancy Services World 10K Bengaluru witnessed Kenyan runners Peter Mwaniki (28:15) and Lilian Kasait (30:56) emerging victorious in the international elite men’s and women’s categories, respectively.

Paris Saint-Germain Clinches Record 12th Ligue-1 Title

In a triumphant display of dominance, Paris Saint-Germain secured their record 12th Ligue-1 title in the 2023-24 season. The club’s relentless pursuit of excellence saw them claim victory for the third consecutive year, further solidifying their stature as a powerhouse in French football. Under the astute leadership of coach Luis Enrique, PSG showcased their prowess with a commanding performance throughout the season.

Ranks and Reports News

Indian EdTech Giants Shine on TIME’s Global Ranking

In a remarkable achievement, Emeritus, the Indian edtech startup, has secured the coveted top spot in TIME Magazine’s “World’s Top EdTech Companies of 2024” ranking. Founded in 2015 by Ashwin Damera and Chaitanya Kalipatnapu, Emeritus offers courses from prestigious global universities, including the University of Cambridge, Harvard Business School, and MIT Sloan, among others.

Important Days

International Labour Day 2024 Celebrated on 1st May

International Labour Day, also known as May Day or Workers’ Day, is celebrated on Wednesday, May 1st, 2024. This annual observance honours the contributions and achievements of workers worldwide and promotes their rights and opportunities. Every year, the theme is announced by international labour organisations like the International Labour Organization (ILO). This year, the focus is on ensuring safety and health at work in a changing climate.

Obituaries News

Renowned Journalist Vinay Vir Passes Away at 72

Vinay Vir, a renowned journalist, publisher, and editor of the Daily Hindi Milap, passed away on Saturday, April 27th, 2024, at the age of 72. He was a champion for the Hindi language in South India and a respected figure in the journalism community.