TEACHERS’ VISION | BANK PO – CLREK |SSC| GOVT JOBS

DAILY DOSE 17^thAPRIL -2024 CURRENT AFFAIRS

1) Lake Kariba: Water levels Dropped

Water levels at Lake Kariba in Zimbabwe have dropped dramatically because of the latest El Nino drought.
Lake Kariba is the world’s largest man-made lake and reservoir by volume. It lies along the border between Zambia and Zimbabwe. It is 200 kilometers downstream of Victoria Falls.
The lake was filled following the completion of the Kariba Dam wall at its northeastern end, flooding the Kariba Gorge on the Zambezi River.
The Kariba Dam consists of a double-arch wall.
The wall extends across the Kariba gorge, creating a border crossing between Zambia and Zimbabwe.
It provides considerable electric power to both Zambia and Zimbabwe and supports a thriving commercial fishing industry.

2) Volcanic Vortex Rings:

Mount Etna, the largest volcano in Europe, and among the world’s most active volcanoes, has been sending up almost perfect rings of smoke into the air, which is a rare phenomenon that scientists refer to as volcanic vortex rings.
Vortex rings are generated when gas, predominantly water vapour, is released rapidly through a vent in the crater.
The vent that has opened up in volcano’s crater is almost perfectly circular, so the rings that have been seen are also circular.
Volcanic vortex rings were first observed at Etna in 1724 and have since been documented at various volcanoes worldwide.
These rings can remain in the air for up to 10 minutes but tend to disintegrate quickly if conditions are windy and turbulent.
Mount Etna is a stratovolcano, which means it is composed of layers of lava, ash, and rocks that have accumulated over thousands of years of eruptions.

3) Worst Deposit Crunch In 20 Years:

A recently released report revealed that despite robust credit growth, Indian banks faced difficulty in garnering deposits in 2023-24, resulting in the highest credit-deposit ratio in at least two decades.
Indian banks are grappling with a severe deposit cash crunch that has not been witnessed in the past two decades.
Currently standing at 80%, the credit-deposit ratio is at its highest since 2015.
The CD ratio indicates how much of a bank’s deposit base is being utilized for loans.
A deposit cash crunch occurs when banks have insufficient funds on hand to lend to their customers.
As a result, businesses face challenges in operating smoothly, and employees may experience delays in receiving their salaries.
This ripple effect can disrupt economic stability and financial well-being.
Investors are increasingly pursuing high-return, equity-linked products due to strong market performance and growing financial awareness, presenting banks with the dual challenge of attracting deposits and supporting credit growth.

4) Exercise DUSTLIK:

The Indian Army contingent departed for the 5th edition of India-Uzbekistan joint military Exercise DUSTLIK, scheduled from 15th to 28th April 2024 in Termez, Uzbekistan.
Exercise DUSTLIK is a yearly event alternately conducted in India and Uzbekistan.
The exercise aims to foster military cooperation, enhance combined capabilities, focus on joint operations in mountainous and semi-urban terrain, develop interoperability, and enhance bilateral relations.
This edition of Exercise DUSTLIK involves personnel from combat support arms and services, including two Women Officers.
The first-ever exercise “Dustlik” between India and Uzbekistan was in 2019 which focused on counter-terrorism.

5) Special Rupee Vostro Account (SRVA):

The Indian government has simplified the payment mechanism for traders importing pulses from Myanmar by implementing the Rupee/Kyat direct payment system through the Special Rupee Vostro Account (SRVA) via Punjab National Bank.
SRVA is an account that domestic banks hold for foreign banks in the former’s domestic currency, the rupee, which allows domestic banks to provide international banking services to their clients who have global banking needs without having to be physically present abroad.
The SRVA is an additional arrangement to the existing system that uses freely convertible currencies and works as a complimentary system.
It has three important components:
All exports and imports must be denominated and invoiced in domestic currency(e.g. Rupee)
The exchange ratebetween the currencies of the trading partner countries would be market-determined
The final settlement also takes place in domestic currency (e.g. Rupee)

6) Satellite Calls:

Chinese scientists have developed the world’s first satellite that enables smartphones to make direct calls through it, bypassing mobile towers.
This innovation aims to address communication challenges during emergencies, such as natural disasters.
The satellite, part of the Tiantong Project, symbolizes China’s commitment to enhancing communication resilience.
The Tiantong-1 series, involving three satellites, orbits synchronously at 36,000 kilometres altitude, potentially revolutionizing communication across the Asia-Pacific region.
Huawei introduced the first satellite-compatible smartphone, followed by other Chinese manufacturers.

7) Shrinkflation : Concern

Shrinkflation is again became a topic of concern within the fast-moving consumer goods (FMCG) industry.
As input costs rise, companies are faced with the challenge of maintaining profitability while also addressing consumer needs.
Shrinkflation refers to the practice of reducing the size of a product while maintaining its sticker price.
It’s a form of hidden inflation.
Companies, especially in the food and beverage industries, employ this strategy to stealthily boost profit margins or maintain them in the face of rising input costs.
Shrinkflation involves reducing the quantity or volume of a product while keeping the retail price unchanged.

8) New PM of Kuwait:

Kuwait’s Emir has appointed Sheikh Ahmad Abdullah al-Ahmad al-Sabah as the new PM of Kuwait.
This decision follows the resignation of former PM Sheikh Mohammad Sabah Al-Salem Al-Sabah. Sheikh Ahmad is a Kuwaiti economist and served as Minister of Finance and Communications

9) First Indian cricketer to smash 500 sixes in the T20 format:

India and Mumbai Indians star batter Rohit Sharma has become the first Indian cricketer to smash 500 sixes in the T20 format.
This historic achievement was reached during Rohit’s stellar performance in the Indian Premier League (IPL) match against Chennai Super Kings

10) World Literary Prize:

Mamta G. Sagar, a renowned Kannada poet, writer, academic, and activist based in Bengaluru, has added another feather to her cap by winning the prestigious World Literary Prize from the World Organization of Writers (WOW)