Current Affairs April 16, 2024

Current Affairs

April 16, 2024

 

1. Heatwave Alert Issued for Several States by IMD:

The India Meteorological Department (IMD) has issued an orange alert for Telangana, West Bengal, Odisha, Andhra Pradesh, Tamil Nadu, Karnataka, Kerala, Maharashtra, and Goa due to an impending heatwave. The alert forecasts elevated temperatures from April 16 to April 17. Additionally, IMD predicts a second heatwave episode in April for Odisha, West Bengal, and Andhra Pradesh, with isolated areas experiencing heatwave conditions from April 16–20. This warning underscores the importance of precautionary measures to mitigate the impact of extreme heat on public health and safety.

 

2. Restrictions Imposed on Export of Essential Goods to Maldives:

India's Directorate General of Foreign Trade (DGFT) has imposed restrictions on the export of essential goods to the Maldives. Under this directive, essential goods subject to limitations or prohibitions can only be exported through four Indian ports: Mundra in Gujarat, Tuticorin in Tamil Nadu, Nhava Sheva Sea Port (JNPT) in Maharashtra, and ICD Tughlakabad in New Delhi. This move aims to regulate exports and ensure the availability of necessary goods domestically while maintaining trade relations with the Maldives.

 

3. WHO Approves New Vaccination for Meningococcus:

The World Health Organization (WHO) has granted approval for a new vaccination named Men5CV to combat five strains of the meningococcus bacterium. Nigeria becomes the first country globally to deploy this vaccine, supported by funding from the Vaccine Alliance, Gavi. The introduction of Men5CV aims to enhance meningitis immunization programs in low-income countries, marking a significant step towards improving public health and preventing infectious diseases.

 

4. RBI Authorizes Mitigation of Gold Price Risk in IFSC:

In the International Financial Services Centre (IFSC), the Reserve Bank of India (RBI) has authorized Indian citizens to hedge their gold price risk on internationally recognized exchanges. Simultaneously, Governor Shaktikanta Das announced a 35 basis point increase in the repo rate to 6.25 percent at a Monetary Policy Committee (MPC) meeting. These measures aim to strengthen financial risk management capabilities and ensure stability in the gold market amidst global economic fluctuations.

 

5. Indian Banks Grapple with Deposit Acquisition Challenges:

Indian banks faced challenges in acquiring deposits during the fiscal year 2023-24, leading to the highest credit-deposit ratio in at least two decades. A recent report highlights the need for banks to innovate and adapt strategies to attract deposits while maintaining prudent lending practices. Addressing deposit mobilization challenges is crucial for ensuring liquidity and sustaining robust economic growth in the banking sector.

 

These developments reflect the dynamic landscape of economic and public health challenges faced by India and underscore the importance of proactive measures and strategic interventions to address emerging issues effectively. Stay tuned for further updates on significant national and international events.