National & International News :
1. DGQI Assessment for Q3 FY23 : MoPSW Ranked 2nd among 66 Ministeries with Score 4.7
The Ministry of Ports, Shipping and Waterways (MoPSW) has achieved an impressive feat by securing the second position among 66 ministries in the influential 'Data Governance Quality Index (DGQI) assessment for 2022-2023 Q3 (Third Quarter of FY23)' with a score of 4.7 out of 5.
The DGQI assessment for FY23 was conducted by the Development Monitoring and Evaluation Office (DMEO), which operates under the NITI Aayog. This recognition highlights the MoPSW's unwavering commitment to upholding excellence in data governance.
- About DGQI :
The Development Monitoring and Evaluation Office (DMEO), an attached office of NITI Aayog, prepares the Data Governance Quality Index (DGQI) to facilitate comprehensive self-assessment of data preparedness levels among government agencies at both the central and state levels.
The DGQI survey measures the maturity level of administrative data systems and their impact on decision-making within various ministries and departments, particularly regarding the implementation of Central Sector Schemes (CS) and Centrally-Sponsored Schemes (CSS).
Six Themes : The DGQI assessment evaluates agencies based on a scoring system across six key themes, encompassing Data Generation, Data Quality, Use of Technology, Data Analysis, Use and Dissemination, Data Security and HR Capacity, and Case Studies.
- MoPSW's Progress :
(i) The Ministry's remarkable performance in the DGQI assessment can be attributed to the dedicated efforts of the National Technology Centre for Ports, Waterways, and Coasts (NTCPWC) at the Indian Institute of Technology (IIT) Madras. This center was entrusted with the responsibility of enhancing MoPSW's Management Information System (MIS) in accordance with DGQI standards.
(ii) NTCPWC was established under the Sagarmala Programme by MoPSW as its technology arm.
Sagarmala : Launched in March 2015, Sagarmala is a visionary national program aimed at optimizing India's logistics sector by unlocking the full potential of its coastline and waterways. The program seeks to reduce logistics costs for both EXIM (Export-Import) and domestic trade with minimal infrastructure investment.
(iii) DGQI assessment covered the MIS portals for five schemes under MoPSW, including Sagarmala, Research and Development, Shipping, (Andaman, Lakshadweep Harbour Works), IWAI (Inland Waterways Authority of India), and IWT (Inland Water Transport). The objective was to enhance data flow, improve data quality, and incorporate emerging technologies like Artificial Intelligence (AI) and Machine Learning (ML).
- Benefits of Data-driven Decision-making :
(i) Adopting a data-driven approach enables policymakers to accurately identify trends, opportunities, and areas that require improvement.
(ii) Ministries equipped with reliable data can make informed decisions, leading to better outcomes for citizens.
(iii) Data-driven decision-making is cost-effective and enhances transparency, making it easier to track the progress of schemes and policies.
(iv) The Ministry's commitment to data-driven decision-making is a testament to its dedication to effectively serve the people of India.
In short :
- MoPSW's achievement : The Ministry of Ports, Shipping and Waterways (MoPSW) ranked 2nd among 66 ministries in the DGQI assessment for Q3 FY23, scoring 4.7 out of 5.
- DGQI overview : The DGQI assessment is conducted by DMEO under NITI Aayog to evaluate data preparedness levels in government agencies.
- Six themes : DGQI assesses ministries based on six themes, including data generation, quality, use of technology, analysis, security, and HR capacity.
- MoPSW's progress : MoPSW's success in DGQI is attributed to the efforts of NTCPWC, which enhanced the Management Information System (MIS) according to DGQI standards.
- Sagarmala program : NTCPWC is MoPSW's technology arm under the Sagarmala program, aimed at optimizing India's logistics sector.
- DGQI coverage : The assessment covered MIS portals for five MoPSW schemes, incorporating data flow improvements and emerging technologies.
- Benefits of data-driven decision-making : Data-driven approaches enable accurate trend identification, informed decision-making, cost-effectiveness, transparency, and better outcomes.
- Ministry's dedication : MoPSW's commitment to data-driven decision-making showcases its dedication to serving the people of India effectively.
2. Himachal Pradesh CM Sukhvinder Singh Sukhu launched ' Him Data Portal ' for better digital services
On May 12, 2023, Sukhvinder Singh Sukhu, the Chief Minister of Himachal Pradesh, inaugurated the 'Him data portal,' a unified digital platform aimed at enhancing the implementation of welfare schemes by integrating real-time and accurate data from all government bodies. The objective is to provide improved public service delivery.
The launch took place during a conference on governance and technology organized by the Bharti Institute of Public Policy at the Indian School of Business (ISB) in Mohali, Punjab. The development of the portal was a collaborative effort between the Department of Information Technology, Government of Himachal Pradesh.
- Benefits of the portal :
(i) Aim : The Him Data Portal serves as a comprehensive platform, offering easy access to over 200 datasets containing highly accurate state-specific information, including data at the block and village levels.
(ii) It enhances the efficiency and transparency of the state government's operations.
(iii) The data portal consolidates valuable information from various domains, facilitating the visualization of patterns, identifying gaps, opportunities, and connections.
(iv) The portal ensures a streamlined recovery process and connected system outages, benefiting both the public and the state government through time-saving, transparent, and efficient operations.
Knowledge Partner : The Indian School of Business (ISB) in Punjab is the knowledge partner involved in making the Himachal Data Portal more useful. The state government and ISB intend to collaborate on projects related to education, information technology, forests, and governance.
- Project Him Parivar & Him Pulse :
The Himachal Pradesh government plans to launch the 'Him Parivar' project from July 2023, which will assign a unique digital identity to the residents of the state. Through this project, essential facilities such as ration cards, family registers, electricity, drinking water, and more will be accessible with a single click.
The project will strengthen the state's benefit delivery systems through 'Him Pulse,' which will enhance the capacity of Him Parivar to link digital identity with the delivery of targeted benefits to the population.
Him Pulse is designed to improve governance, facilitate last-mile delivery, and assess the inclusiveness and exclusion trends of welfare beneficiaries.
About Himachal Pradesh :
Chief Minister : Sukhvinder Singh Sukhu
Governor : Shiv Pratap Shukla
** Wildlife Sanctuary : Khokhan Wildlife Sanctuary, Kibber Wildlife Sanctuary
3. Telangana CM Chandrashekhar Rao launched Geeta Karmikula Bima Scheme
On May 2, 2023, K Chandrashekhar Rao, the Chief Minister of Telangana, announced a special scheme called Geeta Karmikula Bima for the Toddy Tappers community in the state. This scheme aims to provide a life insurance cover of Rs. 5 lakh to toddy tappers, similar to the existing Rythu Bheema scheme designed for farmer families.
- Aim/objective of the Scheme :
The main objective of Geeta Karmikula Bima scheme is to provide financial support to the family members of toddy tappers who meet with accidental or unfortunate incidents while collecting toddy.
The Telangana government intends to include all toddy tappers in the state under this insurance scheme.
- The eligibility criteria for the Geeta Karmikula Bima Scheme are as follows :
The person should be a permanent resident of Telangana.
They must be a toddy tapper by profession.
They should belong to the economically backward section of society.
- Features :
(i) The insurance amount of Rs. 5 lakh will be directly transferred to the bank account of the family member within 3-4 days of the incident.
(ii) Unlike the previous process of providing ex-gratia payments, which had significant delays, under the Geeta Karmikula Bima scheme, insurance coverage will be provided to the family members within 7 days of the toddy tapper's demise.
- Benefits :
(i) The scheme will bring about positive lifestyle changes for individuals from economically backward sections of society.
(ii) Financial benefits will be extended to the entire family in the unfortunate event of the sole breadwinner's accidental death.
(iii) Families without existing insurance coverage will be able to avail themselves of the benefits offered by the Geeta Karmikula Bima insurance scheme.
4. Assam CM Himanta Biswa Sarma launched Ayushman Asom Scheme under MMJA in Guwahati
On May 10, 2023, Himanta Biswa Sarma, the Chief Minister of Assam, launched the Ayushman Asom Scheme under the Mukhya Mantri Jan Arogya Yojana (MMJAY) with the aim of promoting accessible and affordable healthcare throughout Assam. The launch took place at the Srimanta Sankardev Kalakshetra Auditorium in Guwahati, Assam.
Ayushman Asom-MMJAY is an initiative of the Department of Medical Education and Research, Government of Assam.
- About Ayushman Asom MMJAY scheme :
The Ayushman Asom MMJAY scheme covers 1,578 healthcare procedures across more than 300 empanelled hospitals within the state, as well as all Ayushman Bharat-empanelled hospitals across the country.
The beneficiaries of the Ayushman Asom MMJAY scheme will be listed under the National Food Security Act (NFSA).
- The scheme is eligible for the following individuals :
Aadhaar-linked ration card holders ; Those who have an Aadhaar Card and are not covered under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
Initially, 26 lakh families will benefit from this scheme, and the coverage will be extended to 32 lakh families in the upcoming phases.
Key notes :
(i) The healthcare scheme for the people of Assam is similar to the Central Government's AB-PMJAY scheme, but it has a slight difference. The Ayushman Asom MMJAY scheme will cover treatment expenditure for all kinds of diseases, addressing the limitations of the AB-PMJAY that left out a significant number of economically-disadvantaged families.
(ii) The Assam government has also launched an e-KYC (Electronic Know Your Customer) drive under AB-PMJAY and Ayushman Asom MMJAY for NFSA beneficiaries.
(iii) The day-to-day operations of the Ayushman Asom MMJAY scheme will be managed by the Atal Amrit Abhiyan Society.
About Assam :
Capital : Dispur
Chief Minister : Himanta Biswa Sarma
Governor : Gulab Chand Kataria
** Wildlife Sanctuary : Sonai Rupai Wildlife Sanctuary, Amchang Wildlife Sanctuary
5. Prof. Jayant Vishnu Narlikar Awarded the first ASI Govind Swarup Lifetime Achievement Award 2022
Professor Jayant Vishnu Narlikar, a distinguished astrophysicist and former president of the Astronomical Society of India (ASI), was honored with the inaugural ASI Govind Swarup Lifetime Achievement Award 2022 on May 11, 2023, for his exceptional contributions to the field of Astronomy and Astrophysics in India.
The ASI, which celebrated its golden jubilee in 2022, established the Govind Swarup Lifetime Achievement Award in honor of Professor Govind Swarup (1929-2020), widely recognized as the pioneer of Indian radio astronomy. Professor Jayant Vishnu Narlikar, the founding director of the Inter-University Centre for Astronomy and Astrophysics (IUCAA) in Pune, Maharashtra, was bestowed with this prestigious award.
- Award Felicitation :
The award announcement took place during the 41st ASI meeting held at the Indian Institute of Technology (IIT) Indore, Madhya Pradesh, in March 2023.
As Professor Jayant Vishnu Narlikar was unable to attend the meeting, Professor Dipankar Banerjee, the President of ASI, personally visited Pune to present the award to him.
- About Jayant Vishnu Narlikar :
In 1960, Jayant Vishnu Narlikar was awarded the Tyson Medal for astronomy. During his doctoral studies at the University of Cambridge in the United Kingdom, he also received the Smith's Prize in 1962.
From 1966 to 1972, he served as a founding staff member of the Institute of Theoretical Astronomy in Cambridge, UK, which was established by Fred Hoyle.
In 1981, he became a founding member of the World Cultural Council.
In 1988, the Indian University Grants Commission established IUCAA in Pune, Maharashtra, with Jayant Vishnu Narlikar as its Founder and Director.
From 1994 to 1997, he served as the President of the Cosmology Commission of the International Astronomical Union, being one of the pioneers of cosmology research in India.
- Other Awards Received by Vishnu Narlikar :
In 2004, he was awarded the Padma Vibhushan, the second-highest civilian award in India. In 1965, he received the Padma Bhushan award from the Indian Government for his research work.
In 2011, the Government of the State of Maharashtra honored him with the Maharashtra Bhushan, the highest civilian award in the state.
In 2014, the Sahitya Akademi, the premier literary body in India, awarded him their highest prize in regional language (Marathi) writing for his autobiography.
- About ASI Govind Swarup Lifetime Achievement Award :
The ASI Govind Swarup Lifetime Achievement Award for Astronomy and Astrophysics was instituted by the ASI and is bestowed upon senior scientists of eminence once every two years.
The award is named in honor of Professor Govind Swarup, considered the father of Indian radio astronomy, who conceptualized and led the construction of the Ooty Radio Telescope (ORT) and the Giant Metrewave Radio Telescope (GMRT) using innovative and cost-effective ideas optimized for the Indian environment.
The award includes a citation, plaque, and a cash prize of Rs 1,50,000.
- Nomination Criteria : The nominee must be 60 years of age or above and have primarily conducted their work in an Indian affiliation.
The award is not given posthumously, unless the passing away occurs after the nomination process has begun.
6. Wesley W Simina becomes FSM's 10th President
Former Speaker Wesley W Simina was elected as the new and 10th President of the Federation States of Micronesia (FSM) during the 1st regular session of the 23rd FSM Congress in Micronesia.
7. Punjab Becomes First Indian State to Implement "Right to Walk" with Mandatory Footpaths and Cycle Tracks on Roads
Punjab has become the first Indian State to implement the " Right to walk " by making it mandatory for all road owning agencies, including the National Highways Authority of India (NHAI) to provide footpaths and cycle tracks in all future expansion of roads and construction of new ones.
8. MyGov and Ministry of Culture Launch "YUVA PRATIBHA" Singing Talent Hunt to Promote Indian Music at Grassroots Level
MyGov in collaboration with Ministry of Culture launched a " YUVA PRATIBHA " Singing Talent Hunt with an aim to promote Indian music at the grassroots level on a national scale by identifying and recognising the new and young talent in various singing genres such as Folk, Patriotic, and Contemporary.
- The 1st, 2nd, and 3rd winners will be rewarded with Rs 1,50,000 , Rs 1,00,000 and Rs 50,000 respectively, along with a Trophy and Certificate.
Banking & Finance News :
1. World Bank approves USD 82mn for Zoonotic Disease Prevention in India
The Animal Health System Support for One Health Program (AHSSOH) is a new initiative that aims to improve the health and productivity of India's livestock sector by strengthening the capacity to prevent, detect, and respond to endemic zoonotic diseases. The program is supported by a USD 82 million loan from the World Bank's (WB) International Bank for Reconstruction and Development (IBRD), which has a grace period of 4.5 years and a repayment period of 11.5 years. The loan is based on the Program-for-Results (PforR) financing instrument, which links the disbursement of funds to the achievement of specific program outcomes and global best practices for animal health management.
Key points :
- Zoonotic diseases are infections that can be transmitted from animals to humans under natural conditions .
- The program aims to improve food safety and animal health by supporting policies and practices on animal disease and zoonoses management, especially in livestock and wet markets.
- The program will also promote India's One Health approach, which recognizes the interconnection between people, animals, and their shared environment.
- India has the world's largest livestock population and depends heavily on farming, which exposes many people to domestic animals and poultry. Zoonotic diseases such as foot and mouth disease cost India more than USD 3.3 billion annually.
- The program will benefit at least 2.9 million livestock farmers in five states by increasing their access to improved animal health services.
- The program will also enhance collaboration and data sharing between the animal and human health sectors through state-of-the-art laboratories.
2. RazorpayX Introduces Automated ESCROW+ Solution Powered by Axis Trustee Services
RazorpayX, the business banking platform of Razorpay, introduced an automated ESCROW+ solution, powered by Axis Trustee Services Ltd, RBL Bank, and ICICI Bank to support merchants and enables Instant & Secure Money Transfers for Businesses.
Problem statement :
(i) Some businesses do not own all the money in their current account, as they collect funds for other parties or share funds with another business entity for operational purposes.
(ii) This can create a complex money flow that may violate compliance norms and result in penalties for businesses.
ESCROW+ solution :
ESCROW+ is a solution by RazorpayX that solves this problem by providing a trusted Escrow trustee who is verified and onboarded by RazorpayX. It also allows merchants to use an Escrow account to receive funds on behalf of the final beneficiaries, ensuring proper tax treatment and reporting.
The automated processes enabled by ESCROW+ ensure higher success rates and smooth payouts, improving overall payout performance.
At present, the solution is available for digital-first businesses in Gaming, Marketplace & eCommerce, Co-lending, and P2P-lending industries. RazorpayX aims to extend the solution to other industries as well in the future.
Recent important -
RazorpayX, a business banking platform, has launched two new products for startups: Forex Service and Digital Lending 2.0.
Forex Service helps startups transfer their foreign capital to India easily and at a better exchange rate. Since its beta launch three months ago, it has helped 15 startups bring Rs 350 crore in ARR to India.
Digital Lending 2.0 is a solution for NBFCs and Fintechs to comply with digital lending guidelines. It enables them to offer credit products to their customers seamlessly.
About Razorpay Software Private Limited :
Establishment : 2014
Headquarters : Bengaluru, Karnataka
CEO and Co-founder : Harshil Mathur
3. SEBI grants Final Approval for Proposed Change in Control of HDFC AMC
HDFC Asset Management Company (HDFC AMC) Limited, a subsidiary of HDFC Ltd, has received the final approval from the Securities and Exchange Board of India (SEBI) for the proposed change in control of HDFC AMC through its letter dated 10 May 2023. This approval paves the way for the completion of the merger of HDFC with HDFC Bank, which is expected to take place by June 2023 .
- The merger will create a banking behemoth with a market capitalisation of Rs 14 lakh crore and a combined asset base of around Rs 18 lakh crore. HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank. The merger will also benefit the customers, borrowers, and depositors of both entities by offering lower cost of funds, access to best-in-class mortgage products and services, and enhanced digital capabilities .
4. Bank of Baroda launches Electronic Bank Guarantee on its BarodaINSTA Platform
Bank of Baroda (BOB), a public sector bank based in Vadodara (Gujarat), India, has launched a new facility of Electronic Bank Guarantee (e-BG) on its digital platform BarodaINSTA, in collaboration with the National E-Governance Services Limited (NeSL).
- This facility will allow BOB to issue e-BGs on its online platform BarodaINSTA, which are faster and more secure than the conventional paper-based process of issuing inland bank guarantees.
- The beneficiaries can access the final digital BG on the NeSL portal as soon as it is issued, without requiring any additional authentication from the issuing bank. This way, an e-BG reduces the turnaround time and enhances the accessibility of bank guarantees.
5. ADB Launches IF-CAP Program to Accelerate Climate Change Financing in Asia and the Pacific
The Asian Development Bank (ADB) has announced the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP) program to accelerate climate change financing in the region.
- IF-CAP's initial partners are Denmark, Japan, the Republic ofKorea, Sweden, the United Kingdom, and the United States.
- IF-CAP financing will contribute to ADB s ambition for $100 billion from its resources for combating climate change for 2019-2030.
Other News :
1. International Day of Plant Health 2023 - 12th May
United Nations (UN)’s International Day of Plant Health (IDPH) is annually observed across the globe on May 12 to create global awareness of the importance of plant health to end hunger, reduce poverty, protect biodiversity and the environment, and boost economic development.
- 12th May 2023 marks the observance of the 2nd International Day of Plant Health.
Theme : The theme of International Day of Plant Health 2023 is “Plant Health for Environmental Protection”.
- The annual observance of the International Day of Plant Health is led by the Food and Agriculture Organization of the United Nations(FAO), in collaboration with the International Plant Protection Convention.
2. World Migratory Bird Day 2023 - 13th May
United Nations (UN)’s (backed campaign) World Migratory Bird Day (WMBD) is annually observed across the globe on 2 occasions (2 peak days each year), the 2nd Saturday in May and in October, to raise awareness about the importance of migratory birds and their conservation.
- World Migratory Bird Day 2023 falls on 13th May 2023 and 14th October 2023.
- World Migratory Bird Day 2022 was observed on 14th May & 8th October 2022.
- World Migratory Bird Day 2024 will be observed on 11th May & 12th October 2024.
Theme : The Theme of World Migratory Bird Day 2023 is “Water: Sustaining Bird Life”. It was also the campaign slogan of WMBD 2023.
Activities to mark the campaign will be held globally on two peak days in May and October under the theme of WMBD 2023. WMBD 2023 campaign focuses on water and its significance for migratory birds.
- The annual observance of the WMBD is led by United Nations Environment Programme (UNEP), the leading environmental authority in the UN system.
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