National and International News :
1. PM Narendra Modi Inaugurated 91 New 100W FM Transmitters of AIR
All India Radio (AIR) has installed 91 new 100W FM transmitters across 85 districts in India.
- The virtual inauguration of the transmitters was done by Prime Minister Narendra Modi.
- The new expansion aims to enhance FM connectivity in Aspirational Districts and border areas.
- The installation of transmitters is part of the government's commitment to enhance FM connectivity in the country.
- The expansion covers 18 States and 2 Union Territories in India.
- The states and UTs covered include Bihar, Jharkhand, Odisha, West Bengal, Assam, Meghalaya, Nagaland, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand, Andhra Pradesh, Kerala, Telangana, Chhattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Ladakh, and Andaman & Nicobar Islands.
- The expansion will enable an additional 2 crore people to have access to AIR's FM service who previously did not have access to the medium.
- The expansion will cover about 35,000 sq km area.
2. MSME Minister Narayan Rane launches Revamped CGTMSE Scheme
The Ministry of Micro, Small & Medium Enterprises (M/o MSME) launched the revamped Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme in Mumbai, Maharashtra on April 27, 2023. The revamp is based on the additional corpus support of Rs 9,000 crore in the Union Budget for FY 2023-24 to CGTMSE, which aims to provide a guarantee for an additional Rs. 2 lakh crore to MSEs.
The revamped Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme includes the following key measures :
(i) A 50% reduction in guarantee fees for loans up to Rs. 1 crore, bringing the minimum guarantee fee down to 0.37% per annum.
(ii) An increase in the ceiling for guarantee from Rs. 2 crore to Rs. 5 crore.
(iii) An enhancement of the threshold limit for claim settlement without initiation of legal action to Rs 10 lakh.
In addition to these measures, CGTMSE will also collaborate with the National Institute for Micro, Small and Medium Enterprises (NI-MSME) in Hyderabad, Telangana, to establish a Centre of Financial Inclusion for MSMEs. CGTMSE is also partnering with various State Governments to provide enhanced guarantee coverage for MSEs in respective states. CGTMSE has been taking various initiatives to boost credit flow to MSEs.
3. Green World Award 2023: India’s PGCIL, CMRL & Vedanta Each Bagged Awards under Different Categories
The Green Organization based in London, United Kingdom (UK), presented the Green World Awards 2023 at Miami International Airport in the United States of America (USA) on April 24, 2023. Vedanta Limited, Power Grid Corporation of India Limited (POWERGRID), and Chennai Metro Rail Limited (CMRL) from India were among the recipients of the awards in various categories.
The Indian award winners at the Green World Awards 2023 are :
(i) Vedanta Limited was awarded the Global Gold Award in the Environmental Policy & Management category.
(ii) POWERGRID, a Maharatna Central Public Sector Undertaking (CPSU) of the Ministry of Power (MoP), received the Global Gold Award in the Corporate Social Responsibility (CSR) category for its CSR works that enhanced agricultural productivity and rural livelihood in 10 villages of Jaipatna Block of Kalahandi District in Odisha.
Dr V. K. Singh, Director (Personnel) of POWERGRID, received the award on behalf of the organization.
(iii) The Chennai Metro Rail Limited (CMRL) won the Global Silver Award in the Environmental Policy category for its initiatives to reduce energy consumption, carbon emissions, and increase the use of solar energy.
CMRL also focuses on various environmental initiatives such as improving air quality, environmental resource conservation, and developing plantations to improve the ecosystem.
CMRL is a joint venture between the Government of India and the Government of Tamil Nadu that built and operates the Chennai Metro.
Other Winners of Green World Awards 2023 :
Grupo Ambipar, a Brazilian company, has been awarded the Green World Champion of Champions 2023 title at the Green World Awards for their project named Sustainable Biocapsules-Transforming Waste into trees.
4. India remains on the Priority Watch List in 2023: USTR ‘s 2023 Special 301 Report
The Office of the United States Trade Representative (USTR) has released the 2023 Special 301 Report, which assesses the adequacy and effectiveness of United States trading partners in protecting and enforcing intellectual property (IP) rights.
- India has been placed on the Priority Watch list of 2023 due to its inconsistent progress in IP protection and enforcement.
- Along with India, Argentina, Chile, China, Indonesia, Russia, and Venezuela are also included in the list. These countries will receive intense bilateral engagement in the coming year to address the issues related to IP protection and enforcement.
5. WB’s World Development Report 2023: Globally 185 million People are Migrant
The World Bank has released its annual report titled 'World Development Report 2023 : Migrants, Refugees, and Societies,' which reveals that out of the world's population, 2.3%, or 184 million people, are migrants without citizenship in the countries where they reside.
- Among them, 43% reside in low- and middle-income nations. The report provides a comprehensive analysis of international migration and its potential to promote growth and shared prosperity in all countries, as well as recommends policies to manage migration better in origin, transit, and destination nations.
- The report also highlights that the faster aging of economies will lead to increased dependence on migration.
Important points :
(i) The number of refugees among the 184 million migrant people has tripled over the last decade, reaching 37 million.
(ii) The World Development Report 2023 highlights that demographic changes are increasing the necessity of migration for countries at all income levels.
(iii) Many countries will see a significant drop in their working-age adult population in the coming decades. For instance, Spain's population is projected to decrease by more than one-third by 2100, with those above age 65 increasing from 20% to 39% of the population. Countries like Mexico, Thailand, Tunisia, and Turkey, whose population is not growing, may require more foreign workers.
(iv) The report recommends stronger international development efforts in origin countries to reduce the need for migration prompted by economic distress.
(v) The origin countries are advised to make labour migration an explicit part of their development strategy and work to lower the cost of remittances to families back home.
(vi) The report recommends destination countries to encourage migration from populations where their skills are in high demand. It also calls for the development of new multilateral financing instruments to help countries care for non-citizens in a predictable manner.
6. Japanese startup iSpace failed to land its Hakuto-R lander on Moon
iSpace Inc, a private lunar robotic exploration company based in Tokyo, Japan, failed its moon landing mission on April 25, 2023.
- The company's Hakuto-R Mission 1 (M1) lander unexpectedly accelerated and probably crashed on the lunar surface.
- Hakuto-R aimed to become the first private spacecraft and the first Japanese-built vehicle ever to land softly on the moon.
- The lander was launched from Cape Canaveral, Florida, USA, on a SpaceX rocket in December 2022 and had completed several mission objectives leading up to its landing attempt.
- Hakuto-R was over two meters tall (6.5 feet) and weighed 340 kilograms (kg). Its name means " White Rabbit " in Japanese.
- To date, only the USA, Russia, and China have managed to put a spacecraft on the lunar surface.
7. Himachal Pradesh Government & Oil India signs MoU to Harness Renewable Energy Sources
Himachal Pradesh and Oil India Limited (OIL) signed a Memorandum of Understanding (MoU) on April 26th, 2023, to cooperate on developing new and renewable energy sources (NRES) in the state.
- The MoU was signed in the presence of Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu.
- OIL will explore the possibility of setting up floating solar power plants in water reservoirs and ground-mounted solar power projects.
- OIL may also establish a pilot plant to produce green hydrogen and green ammonia.
- The collaboration will focus on creating a variety of new and sustainable energy sources, including wind, solar, compressed biogas, green hydrogen, and geothermal energy.
Note : Harikesh Meena, Director of Energy, represented the Himachal Pradesh Government and Pankaj Kumar Goswami, Director of Operations, represented OIL during the signing of the MoU.
Banking and Finance News :
1. RBI approves re-appointment of Kamakodi as MD & CEO of CUB for 3 years
On April 26, 2023, the Reserve Bank of India (RBI) granted approval for the re-appointment of N Kamakodi as the Managing Director (MD) and Chief Executive Officer (CEO) of City Union Bank (CUB), a private sector bank based in Kumbakonam, Tamil Nadu. Kamakodi's new term is set to last for three years, beginning May 1, 2023.
- Dr. N. Kamakodi has been serving as the MD and CEO of CUB since May 2011. Kamakodi joined CUB as Deputy General Manager (DGM) in 2003 and was subsequently promoted to General Manager (GM) in 2005, and then appointed as Executive Director in 2006.
About City Union Bank (CUB) :
Incorporated on : 31st October, 1904
MD & CEO : Dr N. Kamakodi
Headquarters : Kumbakonam, Tamil Nadu
2. WYLD, World’s 1st Social Currency Payment Card, launched in Mumbai
The San Francisco-based multinational financial services corporation VISA Inc. has powered the launch of WYLD, the world’s first social currency payment card in Mumbai, Maharashtra. The app allows users who have over 1000 Instagram followers and a “ WYLD Score ” of over 100 to apply for the WYLD payment card through the app.
- WYLD has secured USD 350,000 in pre-seed funding, with Better Capital, a British private equity firm leading the investment.
- WYLD allows users to monetize their social media following and earn up to 100% cashback on purchases made with partner brands.
- At present, the platform is only available via invitation to the first 5,000 users on their waitlist of 10,000 potential customers for the beta-testing phase, which began in April 2023.
- The company has partnered with over 200 brands, including Boat, Lenskart, Purplle, etc., across various sectors like fashion, beauty, electronics, restaurants, bars, and events/concerts.
3. NSE Indices revises norms for Exclusion from index in case of Demerger
The subsidiary of the National Stock Exchange (NSE), NSE Indices Limited, has issued fresh guidelines for retaining a demerged entity in its index. According to the new rules, a demerged company will continue to be a constituent of the index only if the exchange conducts a Special Pre-Open Session (SPOS) for the spun-off entity. These guidelines will apply to all scheme of arrangements involving demergers approved by the equity shareholders of the companies on or after April 30, 2023.
Important points :
(i) The objective behind this modification is to decrease the frequency of changes in the index constituents that occur due to corporate actions like demergers.
(ii) The newly listed entity resulting from the demerger will be included in the index at a fixed price, which will be the difference between the closing price of the demerged company one day prior to the ex-date of demerger and the price determined during SPOS.
(iii) The spun-off entity will be taken off from the index after three days. However, if the entity reaches the price band on both days during the first two days, the removal date will be extended by three more days.
(iv) If the exchange fails to conduct SPOS, a suitable replacement will be made to exclude the demerged company from the index one day before the ex-date.
Other News :
1. Boxing Champion, Padma Shri Awardee Kaur Singh passed away
Kaur Singh, a veteran heavyweight boxer who was a Padma Shri and Arjuna awardee, passed away on April 27, 2023, in Kurukshetra, Haryana, at the age of 74. He had won six gold medals in international competitions.
Here are some highlights from Kaur Singh's life :
Kaur Singh joined the Indian army as a havildar in 1971 and fought in the India-Pakistan war. He was awarded the Sena Medal and the Vishisht Sewa Medal in 1988 for his bravery.
- Kaur Singh began boxing in 1977 and won a gold medal at the senior national boxing championship in 1979. He held onto the gold medal for four consecutive years until 1983.
- In 1980, Kaur Singh won a gold medal at the Asian Boxing Championships held in Mumbai (Maharashtra).
- Kaur Singh fought against American boxing legend Muhammad Ali in an exhibition match held at the National Stadium in New Delhi, Delhi, on January 27, 1980.
- In 1982, Kaur Singh won a gold medal in the heavyweight category at the Asian Games held in New Delhi, Delhi.
- In 1983 , the Government of India awarded Kaur Singh with the Padma Shri .
2. World Day for Safety and Health at Work 2023 - 28th April
The World Day for Safety and Health at Work is a yearly observance that takes place on April 28th across the world. Its goal is to promote the prevention of occupational accidents and diseases globally, by raising awareness about the importance of the issue.
- In 2023, the World Day for Safety and Health at Work was observed on April 28th, under the theme " A safe and healthy working environment as a fundamental principle and right at work " .
- This event aims to focus international attention on the need for a safe and healthy working environment as a basic right for all workers.
- Additionally, the International Trade Union Confederation (ITUC) observes another global event on April 28th called " World Memorial Day " or " International Commemoration Day for Dead and Injured Workers " . This event aims to remember workers who have been killed, disabled, injured, or made unwell by their work.
3. International Girls in ICT Day 2023 – 27th April
Every year, the 4th Thursday in April is observed as International Girls in ICT (Information and Communication Technology) Day to encourage and empower girls and young women to explore and pursue careers in the field of ICT.
- The International Girls in ICT Day 2023 was observed on 27th April 2023 under the theme “ Digital Skills for Life ” .
- The previous year, the International Girls in ICT 2022 was observed on 28th April 2022.
- The upcoming International Girls in ICT 2024 will be observed on 25th April 2024.
- The primary aim of this day is to inspire a global movement to increase the representation of girls and women in technology.
4. 37th Bureau of Civil Aviation Raising Day - 27th April 2023
Bureau of Civil Aviation (BCAS) celebrated its 37th Raising Day in New Delhi, Delhi on 27th April 2023.
- Gen. Dr V.K. Singh (Retd.), Minister of State for Civil Aviation, presented awards to the best screeners and officers of BCAS.
- The BCAS was established in January 1978 on the recommendation of the Pande Committee after the hijacking of the Indian Airlines flight in 1976.
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