Daily GK Update: 25th April 2024

By Vijay Kumar|Updated : April 25th, 2024

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National & International Appointments

Indonesia's election commission formally declared Prabowo Subianto (72-years) as the next president of the world's third-largest democracy, after the country's constitutional court shot down challenges to his first-round majority victory.
Subianto, who is currently defence minister, will succeed Joko Widodo in October.
He noted that the elected pair secured a total of 96,214,691 votes, or 58.59 percent of the total national valid votes.

International Affairs

A Ministerial Round Table Conference was held at the ongoing 26th edition of World Energy Congress in Rotterdam, Netherlands
The Round Table Conference discussed how the COP28 UN Climate Change Conference in Dubai was a game changer
The Ministerial Round Table also discussed energy innovation and collaboration, and implications in managing the evolving energy trilemma trade-offs
During the conference, the Union Power Secretary highlighted India’s pivotal role in COP28.

National Affairs

According to a Stockholm International Peace Research Institute (SIPRI) report, India was the fourth largest military spender in the world in 2023 after the United States, China and Russia.
The Indian expenditure on military 2023 was $83.6 billion.
In the interim Union Budget of 2024-25 the government of India allocated Rs 6.21 lakh crore for defence spending.
The 2024-25 allocation for defence accounts for 1.89% of India's GDP.

Banking & Finance

The RBI directed Kotak Mahindra Bank to stop onboarding of new customers through its online and mobile banking channels and also barred it from issuing fresh credit cards, with an immediate effect.
The bank was found to be deficient in its IT Risk and Information Security Governance for the years 2022 and 2023.
In the past two years, the RBI has been in continuous high-level engagement with the bank on all these concerns with a view to strengthening its IT resilience.