HDFC Bank makes history as the first private bank to establish a branch in India’s Lakshadweep, specifically at Kavaratti Island. Previously, only government banks operated in the region.
The move aims to enhance banking infrastructure and provide personalized and digital services, with a focus on personal and digital banking.
Notably, HDFC plans to introduce unique QR-based transactions for retailers, potentially revolutionizing banking in the island territory.
3. According to the recent Asian Development Bank report, what is the expected growth rate of the Indian economy in 2024 – 25? – 7.0%
The Asian Development Bank’s (ADB) April 2024 outlook revised India’s GDP growth forecast for FY25 to 7%, up from 6.7%. ADB reported India’s 7.6% GDP growth in 2023-24, projecting 7.2% growth in 2025-26.
Reserve Bank of India also forecasts 7% growth for FY25.
Despite global economic challenges, India is anticipated to lead major economies in FY 2025, fueled by domestic demand, government policies, investments, and export gains in electronics and services.
Short News
Appointments
4. Who has been appointed as Britain’s first female High Commissioner to India? – Lindy Cameron
Kannada poet, playwright, Mamta G Sagar was awarded the World Literary Award by the World Writers’ Association (WOW)
for her contribution to literature.
The ceremony was held as a part of the first Congress of the World Writers’ Organization (WOW) in Abuja, Nigeria.
Organisations & Institutes
7. Which institution secured the 45th rank in Engineering and Technology of Quacquarelli Symonds (QS) World UniversityRankings 2024? – IIT Bombay
IIT Bombay climbed to 45th in Engineering and Technology in the 2024 QS World University Rankings, scoring 79.1/100.
The QS ranks universities in 55 disciplines; results released by the UK-based agency highlight IIT Bombay’s strengths in various fields including Minerals and Mining (25th), Data Science and AI (30th), Civil and Structural Engineering (42nd), and others.
Notably, it improved by two places from 2023 in Engineering and Technology.
8. Which organization released the Global Trade Outlook & Statistics Report? – World Trade Organisation
Close to 100 hectares of forest were recently destroyed by fire in the Sulthan Bathery forest range within the Wayanad Wildlife Sanctuary (WWS), located in Wayanad, Kerala.
Established in 1973, the sanctuary spans approximately 344.44 sq. km and is part of the Nilgiri Biosphere Reserve.
It shares borders with protected areas in Karnataka and Tamil Nadu.
The sanctuary is home to various tribes and boasts diverse flora, including teak, rosewood, eucalyptus, and silver oak.
10.World’s largest renewable energy park will be built in which state of India? – Gujarat
