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DAILY DOSE 11^thAPRIL -2024 CURRENT AFFAIRS

Sixty-nine Indian universities made it to the rankings with 424 entries in the 2024 QS World University Rankings by Subject.

Highlights of the 2024 Rankings:

Massachusetts Institute of Technology (MIT) has been ranked as the 1 university in the world by QS World University Rankings for 12 straight years.
Indian Institute of Technology Bombay (IITB) is the top ranked Indian institution, being ranked at 149.
A total of 69 Indian universities with 424 entries have made it to the QS World University Rankings by subject, marking a 19.4% rise from the previous year’s 355 entries achieved by 66 universities.
India is the second most represented country in Asia for the number of ranked universities (69), after mainland China with 101.
India holds the fourth position in the total number of ranked entries (454), after China (1,041), Japan (510) and South Korea (499).
Jawaharlal Nehru University (JNU) leads among Indian institutions, securing the 20th position globally for development studies.

Data from the Reserve Bank of India (RBI) reveals that the credit-deposit ratio has reached its highest level in at least 20 years.
This surge in the credit-deposit ratio indicates that more of the banks’ deposit base is being utilized for loans, including home loans and other consumption-related loans.
The credit-deposit ratio is a financial metric that measures the proportion of a bank’s deposit base that is used for lending.
It is calculated by dividing the total loans extended by the bank by its total deposits.
A higher ratio indicates that a larger portion of the bank’s deposits is being lent out as credit, while a lower ratio suggests more deposits are being held in reserve or invested in other assets.

India has been contemplating extending the Overseas Citizenship of India (OCI) Card privileges to overseas Indians in Fiji and other nations after relaxing the rules for Suriname.
In 2023, India announced an extension of the eligibility criteria for OCI card of the original Indian immigrants in Suriname, from the fourth generation to the sixth generation.
Overseas Citizenship of India (OCI) Card : The concept of OCI was introduced in response to demands for dual citizenship by the Indian diaspora, particularly in developed countries.
The Ministry of Home Affairs defines an OCI as a person who:
Was a citizen of India on or after 26th January 1950; or
Was eligible to become a citizen of India on 26th January 1950; or
Is a child or grandchild of such a person, among other eligibility criteria.
According to Section 7A of the OCI card rules, an applicant is not eligible for the OCI card if he, his parents, or grandparents have ever been a citizen of Pakistan or Bangladesh.
The category was introduced by the government in 2005.
The Government of India via the Citizenship (Amendment) Act, 2015 merged the Person of Indian Origin (PIO) category with the OCI category in 2015.

DESI’s groundbreaking project harnesses 5,000 robots to peer 11 billion years into the past, revealing unprecedented insights into our expanding universe.
It found the most precise measurement of the universe expansion rate at a rate of 68.5 (±0.6) kilometres per second per megaparsec (a million parsec; 1 parsec equals 3.2616 light years).
DESI made a huge 3D map to study dark energy’s impact over 11 billion years.

5) India, Mauritius amends Double Tax Avoidance Agreement:

The Government of the Republic of India and the Government of Mauritius have amended the India-Mauritius Double Tax Avoidance Agreement (DTAA) to focus on preventing tax evasion instead of promoting bilateral investment flows.

6) IPPB Introduces Aadhaar ATM Service for Convenient Cash Withdrawals:

The India Post Payments Bank (IPPB) has introduced the Aadhaar ATM service facility for its users.
It works on the principle of the Aadhaar Enabled Payment System (AePS), which was introduced by the National Payments Corporation of India (NPCI).

7) ADB projected India’s GDP Growth Forecast for FY25 to 7%

The Asian Development Bank (ADB) in its ‘Asian Development Outlook (ADO) April 2024‘ raised India’s Gross domestic product (GDP) growth forecast for FY25 (2024-25) to 7% from 6.7% amid robust growth which will be driven by public and private sector investment demand and gradual improvement in consumer demand.

8) Harvard Honored Avantika Vandanapu South Asian Person of the Year

The Indian-American actress Avantika Vandanapu was honored the ‘South Asian Person of the Year’ by the South Asian Association (SAA) at Harvard University, Cambridge, Massachusetts, USA (United States of America).
She was recognised for her achievements and significant impact in both the international and Indian entertainment industries.

9) Belgium’s Ingmar De Vos Elected as New President of ASOI:

Ingmar De Vos from Belgium, the President of the International Equestrian Federation (FEI), was unanimously elected as the President of the Association of Summer Olympic International Federations (ASOIF) during the 48th ASOIF General Assembly.

10) NASA and Japan Sign Agreement to Advance Sustainable Human Exploration of moon:

Bill Nelson, National Aeronautics and Space Administration (NASA) Administrator, and Japan’s Minister of Education, Culture, Sports, Science and Technology (MEXT) Masahito Moriyama signed an agreement to advance sustainable human exploration of the Moon at the NASA Headquarters in Washington, United States of America(USA).
Under the agreement, the USA will send two Japanese astronauts to the moon surface on its lunar mission.
Out of two Japanese astronauts, one will become the first non-American ever to land on the moon.