National & International News :
1. GoI Implements RPwD Act 2016 ; Established Accessibility Standards for Divyangjan
The Government of India (GoI) has established accessibility standards for persons with disabilities (Divyangjan or PwDs) under section 40 of the Rights of Persons with Disabilities (RPwD) Act 2016. These standards cover the physical environment, transportation, information and communication, and other facilities and services in both urban and rural areas.
Twenty ministries are involved in developing accessibility guidelines for their respective sectors, as mandated by section 40 of the RPwD Act 2016. The Department of Empowerment of Persons with Disabilities (DEPwD) under the Ministry of Social Justice and Empowerment (MoSJE) is responsible for monitoring the formulation of these guidelines.
Regular review meetings are conducted at various levels, including a recent review by the MoSJE to assess the progress made.
About the Ministry of Social Justice and Empowerment(MoSJE) :
Union Minister : Virendra Kumar
Minister of State : A. Narayanaswamy ; Pratima Bhoumik & Ramdas Athawale
2. India Commits to Just Energy Transition Through International Cooperation
Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy (MNRE), announced India's commitment to an accelerated, responsible, and just energy transition through international cooperation and collaboration under the G20 Presidency.
- The announcement took place during the official side event "Low-cost Finance for New & Emerging Energy Technologies" as part of India's G20 Presidency's 3rd Energy Transition Working Group (ETWG) meeting in Mumbai, Maharashtra, on May 15, 2023.
- The MNRE, along with the Indian Renewable Energy Development Agency (IREDA) and the International Renewable Energy Agency (IRENA), organized the side event.
- The side event focused on cost-effective financing for energy transition, discussing critical emerging technologies like Hydrogen, Offshore Wind, Energy Storage, and Carbon Capture Utilization & Storage (CCUS).
- Low-cost financing is one of the key priority areas established by the ETWG under India's presidency.
- The event included two-panel discussions moderated by Gauri Singh from IRENA and Dan Dorner from the International Energy Agency (IEA), respectively.
- A report titled "Low-Cost Finance for Energy Transition" prepared by IRENA in collaboration with the MNRE was launched during the side event.
- The report highlights strategies to increase the availability of low-cost capital for energy transition in G20 countries and beyond.
- Two other reports titled "Financing Needs for New Age Critical Technologies: CO2 Capture Utilization and Storage (CCUS)" and "Financing Needs for New Age Critical Technologies: Battery Energy Storage (BES)" were also released during the event.
- These reports were developed by the Ministry of Power in collaboration with the Indian Institute of Management (IIM), Ahmedabad, and NETRA (NTPC Energy Technology Research Alliance).
- NETRA is a Research and Development (R&D) laboratory of NTPC Limited located in Greater Noida, Uttar Pradesh.
3. Cabinet Approves revision in Nutrient Based Subsidy rates for RABI Season, 2022-23 and fixing of NBS rates for KHARIF Season, 2023 on P&K fertilizers
The Cabinet has approved the proposal of the Department of Fertilizers for revision in Nutrient Based Subsidy (NBS) rates for various nutrients i.e. Nitrogen (N), Phosphorus (P),Potash (K) and Sulphur (S) for Rabi Season 2022-23 (from 01.01.2023 to 31.03.2023) and approved NBS rates for Kharif Season, 2023 (from 1.4.2023 to 30.09.2023) for Phosphatic and Potassic (P&K) fertilizers to make available 25 grades of Phosphatic and Potassic (P&K) fertilizers to farmers at subsidized prices.
- Government will be providing a subsidy of Rs. 38,000 crores for the Kharif 2023 to fulfil its commitment of providing quality and subsidized P&K fertilizers to farmers.
4. Cabinet approves signing of Project Collaboration Agreement between the DHR & WHO on Assistive Technology
The Union Cabinet has approved the signing of a Project Collaboration Agreement (PCA) between India's Department of Health Research (DHR), Ministry of Health and Family Welfare (MoHFW), and the World Health Organization (WHO) to promote access to high-quality and affordable assistive technology.
This collaboration aims to support research, innovation, and capacity building in the field of assistive technology. The PCA was signed by the WHO on October 10, 2022, and by the DHR on October 18, 2022.
Important points :
(i) Assistive technology encompasses tools and devices that assist individuals with disabilities or limitations in performing daily tasks and enhancing their quality of life.
(ii) The collaboration also aims to raise global awareness about the significance of assistive technology and develop appropriate training programs.
5. Cabinet approves signing of MoU between CCI and Egyptian Competition Authority
The Union Cabinet has approved the signing of a Memorandum of Understanding (MoU) between the Competition Commission of India (CCI) and the Egyptian Competition Authority (ECA) to enhance cooperation in competition law and policy. This collaboration will involve the exchange of information, technical cooperation, sharing of best practices, and various capacity building initiatives.
Important points :
(i) The MoU will enable the CCI to benefit from the experience and lessons of the ECA, thereby improving the enforcement of the Competition Act, 2002 in India. This will ultimately benefit consumers and promote equity and inclusiveness.
(ii) Section 18 of the Competition Act, 2002 empowers the CCI to enter into memoranda or arrangements with foreign agencies for the purpose of fulfilling its duties and functions under the Act.
(iii) In line with international cooperation, the CCI has previously signed MoUs with competition authorities in various jurisdictions, including Mauritius, Europe, the United States, China, Canada, Australia, Russia, Brazil, South Africa, and Japan.
6. Cabinet approves MoU between ICAI and CA Maldives
The Union Cabinet has approved the signing of a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and The Chartered Accountants of the Maldives (CA Maldives).
Aim : The aim of this MoU is to establish mutual cooperation between the two organizations for the advancement of accounting knowledge, professional and intellectual development, and the promotion of the interests of their respective members. It also seeks to contribute positively to the development of the accountancy profession in both the Maldives and India through training, professional ethics, and technical research.
Important points :
(i) This MoU will provide enhanced professional opportunities for ICAI members in the Maldives in the short and long term.
(ii) ICAI will offer accountancy profession services to the Maldives.
CA Maldives aims to become a member of the International Federation of Accountants (IFAC), which serves as the global voice of the accountancy profession with over 180 members in 135 countries. ICAI will conduct technical due diligence to support CA Maldives' membership application to IFAC.
7. Cabinet approves PLI Scheme 2.0 for IT Hardware
Following the success of the Production Linked Incentive (PLI) scheme for mobile phones, the Union Cabinet has approved the PLI Scheme 2.0 for Information Technology (IT) Hardware. The scheme, with an outlay of Rs 17,000 crore, will cover laptops, tablets, all-in-one PCs, servers, and ultra-small form factor devices.
Focus of PLI Scheme 2.0 : The primary focus of the scheme is to expand India's production and presence in the global value chains of IT hardware, servers, and laptops. It aims to contribute towards achieving the goal of a $1 trillion digital economy, including $300 billion in electronics manufacturing by 2025-26.
Highlights :
- The scheme will have a tenure of 6 years.
- It is expected to generate incremental production worth Rs 3.35 lakh crore.
- The expected incremental investment is Rs 2,430 crore.
- It is projected to create 75,000 new direct employment opportunities.
Important points :
(i) Electronics manufacturing in India has shown consistent growth with a Compound Annual Growth Rate (CAGR) of 17% over the past 8 years. In 2023, it crossed a significant production benchmark of USD 105 billion (approximately Rs 9 lakh crore).
(ii) India has become the world's second-largest manufacturer of mobile phones, and mobile phone exports have reached a milestone of $11 billion (around Rs 90 thousand crore) this year.
(iii) In February 2021, the Central Government approved the PLI scheme for IT hardware, covering the production of laptops, tablets, all-in-one PCs, and servers, with an outlay of Rs 7,350 crore.
8. DDP of Defence Ministry announces 164 PIL Items; Import Value of Rs 814 crore
The Ministry of Defence (MoD) has achieved its target of indigenising 164 items from the Positive Indigenisation List (PIL) by December 2022, with an import substitution value of USD 99 million (Rs 814 crore). This is another step towards realising "Aatmanirbharta" in the defence sector. The total number of indigenised items from these PILs of the Department of Defence Production (DDP) is now 2,736, with an import substitution value of Rs 2,570 crore.
- These items have been indigenised by Defence Public Sector Undertakings (DPSUs) either in-house or through Industry partners, including MSMEs. The DDP has notified four PILs consisting of 4,666 items, including Line Replacement Units (LRUs), Sub-systems, and Spares & Components for DPSUs. The successful indigenisation of 2,572 items, with an import substitution value of Rs 1,756 crore, was notified earlier by the DDP. The list of these indigenised items is available on the Srijan Portal.
9. 1st Ministerial Meeting of TTC: EU-India agrees to coordinate Policies in Strategic Semi-Conductor Sector
On May 16, 2023, India and the European Union (EU) reached an agreement to coordinate their policies in the strategic semiconductor sector. The objective is to finalize a Memorandum of Understanding (MoU) by September 2023, during the first ministerial meeting of the Trade and Technology Council (TTC) held in Brussels, Belgium.
Key points from the joint statement :
(i) Both the EU and India will collaborate to address the digital skills gap, explore the Mutual Recognition of certifications, and promote skilled professionals and talent exchange.
(ii) Cooperation in Information Technology (IT) and Telecoms Standardisation will be strengthened, focusing on promoting interoperable standards.
(iii) The joint statement recognizes the significance of Digital Public Infrastructure (DPI) for the development of open and inclusive digital economies and societies.
(iv) The EU and India are committed to deepening their partnership and leveraging their respective strengths to accelerate the adoption and advancement of advanced digital technologies. This collaboration aims to benefit both societies and contribute to global progress, aligned with shared values.
- The meeting was co-chaired by European Commission Executive Vice-Presidents (EVP) Margrethe Vestager and Valdis Dombrovskis, with Indian Ministers Dr S Jaishankar, Minister of External Affairs (MEA), Piyush Goyal, Minister of Commerce & Industry (MoC&I), and Rajeev Chandrasekhar, Minister of State (MoS) for Skill Development and Entrepreneurship & MoS for Electronics and Information Technology, and joined by High Representative/ Vice-President Josep Borrell and Thierry Breton, European Commissioner.
About the European Union(EU) :
European Union (EU) is an organization of European countries to oversee their economic and political integration.
Presidency of the Council of the EU- Sweden (1st January 2023 to 30th June 2023)
Formed : 1993
Members : 27 member states
10. Air Marshal Ashutosh Dixit takes over as Deputy Chief of the Air Staff
Air Marshal Ashutosh Dixit, AVSM, VM, VSM is the current Deputy Chief of the Air Staff of the Indian Air Force. He assumed this position on 15th May 2023 after serving as the Senior Air Staff Officer at South Western Air Command and the Air Defence Commander of Southern Air Command .
He joined the fighter stream of the Indian Air Force on 6th December 1986 and has flown various fighter, trainer, and transport aircraft. He has over 3300 hours of flying experience as a Qualified Flying Instructor and an Experimental Test pilot .
- He has commanded a Mirage 2000 Squadron, a frontline fighter base in the Western sector, and a premier fighter training base. He has also held important staff appointments at Air Headquarters, such as Principle Director of Air Staff Requirement, Assistant Chief of the Air Staff (Projects), and Assistant Chief of the Air Staff (Plans) .
- He is an alumnus of National Defence Academy, Pune and a graduate of staff course, Bangladesh and National Defence College, New Delhi . He has participated in Operation Rakshak and Operation Safed Sagar during the Kargil War . He has been awarded the Ati Vishisht Seva Medal, Vayu Sena Medal, and Vishisht Seva Medal for his distinguished service .
11. Manoj Soni sworn in as UPSC Chairman
On May 16, 2023, Manoj Soni, a former Vice-Chancellor of two universities in Gujarat, took the oath as the Chairman of the Union Public Service Commission (UPSC). The oath was administered by Smita Nagaraj, the senior-most Member of UPSC.
Notable points :
(i) Manoj Soni had been serving as the Chairman in charge since April 2022 and had previously been a member of the UPSC since June 28, 2017.
(ii) During his tenure at MSU (The Maharaja Sayajirao University) Baroda, Gujarat, Manoj Soni became the youngest-ever vice-chancellor in India.
About UPSC Commission : The UPSC conducts the civil services examination to select Group "A" officers for prestigious services such as the Indian Administrative Service (IAS), the Indian Foreign Service (IFS), the Indian Police Service (IPS), and several other all-India services that form the backbone of the country's administrative structure. The Commission is headed by a Chairman and can have a maximum of 10 members, all appointed by the President of India.
About Manoj Soni :
- Manoj Soni served three terms as Vice-Chancellor, including two consecutive terms from August 1, 2009, to July 31, 2015, at Dr Babasaheb Ambedkar Open University (BAOU), Gujarat, and from April 2005 to April 2008 at M.S. University of Baroda.
- He taught International Relations at Sardar Patel University (SPU), Vallabh Vidyanagar, from 1991 to 2016, except during his tenure as Vice-Chancellor of the two universities.
- In 2013, he was honored with the 'Honorary Mayor-President of the City of Baton Rouge' title by the Mayor-President of Baton Rouge, Louisiana, United States of America.
- In 2015, he received the World Education Congress Global Award for Distance Learning Leadership from the Chartered Institute of Management Accountants, London, United Kingdom.
About Union Public Service Commission (UPSC) :
Chairperson : Manoj Soni
Founded : 1 October 1926
Headquarters : New Delhi, Delhi
12. UGC launches 2 New Portals: " UTSAH " to Track Implementation of NEP 2020 & " PoP "
On May 16, 2023, the University Grants Commission (UGC) launched a new portal called "UTASH" (Undertaking Transformative Strategies and Actions in Higher Education) to monitor the implementation of the National Education Policy (NEP) 2020 in Higher Education Institutes (HEIs). The portal was launched by Professor Mamidala Jagadesh Kumar, Chairman of UGC.
Key points :
- The UTSAH portal will effectively track the qualitative reforms and initiatives taken by educational institutions across India in line with the NEP.
- Higher Educational Institutions can register on the UTSAH portal, which has been designed in consultation with esteemed institutes such as the National Institute of Technology (NITs), Indian Institutes of Technology (IITs), and the Institute of National Importance (INIs).
- The portal will motivate, implement, and monitor the progress of these initiatives while providing detailed information about UGC's initiatives for qualitative reforms in higher education. It will also make regulations, guidelines, and frameworks issued by the UGC easily accessible.
- Alongside the UTSAH portal, the UGC also launched the Professors of Practice (PoP) portal and revamped its main website.
About the PoP Portal :
- The PoP portal facilitates institutions in recruiting experienced professional experts in various disciplines.
- Experts can register with their email ID and mobile number on the portal.
- Universities and institutions can register on the portal and upload job advertisements for PoP positions with the required number of posts and specific domains.
- The portal serves as a platform for collaboration between experts and academic institutions, fostering a beneficial partnership.
13. Mukhyamantri Krishak Byaaj Maafi Yojana-2023: Interest waiver scheme for farmers launched in MP
The Chief Minister (CM) of Madhya Pradesh (MP) Shivraj Singh Chouhan has launched a farm loan interest waiver scheme namely ‘Mukhyamantri Krishak Byaaj Maafi Yojana-2023 or the Chief Minister Farmer Loan Waiver Scheme’ to compensate the defaulter farmers, who have outstanding loans of up to Rs 2 lakh including the principal and interest as on March 31, 2023, from Primary Agricultural Credit Cooperative Societies (PACS) affiliated to District Cooperative Central Banks.
- Under this outstanding amounts of Rs 2,123 crore will be waived off for 11,19,000 farmers, and will also be certified as default-free.
- This initiative will make the farmers eligible for the crop loan scheme at a 0% interest rate.
- The scheme also includes short-term crop as well as short-term loans, which have been converted into medium-term loans due to natural calamities.
14. Slovakia President appoints Central banker Ludovit Odor as interim PM
On May 15 2023, Zuzana Caputova, President of Slovakia, appointed Ludovit Odor, a Slovak economist and former Deputy Governor of the National Bank of Slovakia, as interim Prime Minister (PM) of Slovakia. He will head the 15-member cabinet of Slovakia till the elections, which will be held in September 2023.
- Prior to this appointment, Ludovit Odor served as Deputy Governor of the National Bank of Slovakia from 2018 to 14th May 2023.
- Ludovit Odor takes over as the PM from Eduard Heger, who resigned from the post on 7th May 2023.
- President Zuzana Caputova has also appointed economist Michal Horvath, Chief Economist of the National Bank of Slovakia as Slovakia’s interim finance minister.
About Slovakia :
Capital : Bratislava
President : Zuzana Čaputová
Prime Minister : Ludovit Odor (interim)
Currency : Slovak Koruna
Banking & Finance News :
1. Raheja QBE General Insurance appoints Rajeev Dogra as the new MD & CEO
Mumbai (Maharashtra)-based Raheja QBE General Insurance Company Limited has appointed Rajeev Dogra as its new Managing Director (MD) & Chief Executive Officer (CEO), following approval from the Insurance Regulatory and Development Authority of India (IRDAI). He succeeded Pankaj Arora.
- He joined Raheja QBE in 2011 as Chief Distribution Officer in Sales and Distribution division.
- He started his career at National Insurance Company Limited in 1989 as a Direct Recruit Officer and later moved to Bajaj Allianz General Insurance Co. Ltd. in 2001 where he worked till 2011.
- Raheja QBE is a joint venture(JV) between Prism Johnson Limited (part of Rajan Raheja Group), India and QBE Holdings (AAP) Pty. Ltd. & QBE Asia Pacific Holdings Ltd., subsidiaries of Australian-based QBE Insurance Group Limited.
2. Paytm appoints Bhavesh Gupta as President & COO
On 16th May 2023, Noida (Uttar Pradesh)-based One97 Communications Ltd, which owns Paytm, appointed Bhavesh Gupta as President and Chief Operating Officer (COO) of Paytm.
- Bhavesh Gupta, with 25 years of experience in financial services, will be responsible for leading the verticals of lending insurance, payments (online and offline), and consumer payments, and driving key initiatives including user growth, operation risk, fraud risk, and compliance.
3. Zomato UPI : Zomato inks pact with ICICI Bank to launch its own UPI
Zomato has collaborated with ICICI Bank to introduce its own Unified Payments Interface (UPI) service called ‘Zomato UPI’ for select users.
- This feature allows customers to make direct payments within the Zomato app by creating their own UPI ID, eliminating the need forredirection to external payment gateways like PhonePe, Google Pay, or other third-party apps.
- Users can utilize this service for both peer-to-peer transactions and merchant payments.
About Zomato :
Founder & CEO : Deepinder Goyal
Headquarter : Gurugram, Haryana
Launched in : 2010
4. HDFC AMC launches India’s first Mutual Fund focused on Defence Sector
On May 16, 2023, HDFC Asset Management Company (AMC) Limited, the investment manager for HDFC Mutual Fund (HDFC MF), announced the launch of the 'HDFC Defence Fund,' India's first mutual fund that aims to invest in the defence sector.
Important points :
- The HDFC Defence Fund follows a bottom-up approach to portfolio construction within the defence ecosystem.
- Its objective is to provide long-term capital appreciation by predominantly investing in equity and equity-related securities of defence and allied sector companies.
- The new fund offering (NFO) for HDFC Defence Fund, an open-ended equity scheme, will open on May 19, 2023, and close on June 2, 2023.
- The defence fund will invest at least 80% of its net assets in defence and allied sector companies.
About HDFC Asset Management Company (AMC) Ltd. :
MD and CEO : Navneet Munot
Headquarters : Mumbai, Maharashtra
Incorporated in : 1999
5. IDBI, BOB and SBI Capital Appointed to Manage IREDA IPO
The Union government has appointed the three merchant bankers IDBI Capital Market & Securities Ltd, BOB Capital Markets Ltd and SBI Capital Markets Ltd to manage the Initial Public Offering (IPO) of the Indian Renewable Energy Development Agency (IREDA). IDBI Capital is the lead banker for the transaction.
- Separately, Saraf and Partner was appointed as the legal adviser for the IPO.
- The IPO, which is expected in FY24, will likely comprise a 10% stake sale by the government and 15% fresh equity issuance by the renewable energy project financier to fund its business growth.
Other News :
1. Former Arunachal Pradesh minister Chow Tewa Mein dies at 80
On May 15, 2023, Chow Tewa Mein (CT Mein), a former minister of Arunachal Pradesh (AR), passed away at the age of 80. Here are some key details about his life and political career:
CT Mein was born on March 31, 1943, in Chongkham village, Arunachal Pradesh. He was the elder brother of AR's Deputy Chief Minister, Chowna Mein.
- In 1972, he was elected as a member of the Pradesh Council, which was later converted into the Provisional Legislative Assembly in August 1975.
- In 1978, CT Mein was elected from the Namsai-Chowkham assembly constituency and was among the first 30 elected MLAs of Arunachal Pradesh from the Janata Party.
- He served as an MLA (Member of the Legislative Assembly) from the Chowkham constituency in 1995, 2004, 2009, and 2014.
- CT Mein held various ministerial positions during his career. He served as the horticulture minister in 1995 and as the PHE & WS (Public Health Engineering & Water Supply) Minister in 1998. He also worked as a parliamentary secretary in the Animal Husbandry, Veterinary & Dairy Development Department in 2009. From 2011 to 2019, he served in the Environment & Forest Department until his retirement from active politics.
2. International Museum Day 2023 - 18th May
International Museum Day (IMD) is annually observed across the globe on May 18 to promote the importance of museums as cultural institutions and to create awareness about the role of museums in society and their contribution to education, cultural exchange, and heritage preservation.
Theme : The theme of the International Museum Day 2023 observed on 18th May 2023 is “Museums, Sustainability and Wellbeing”.
Aim : The day aims to raise awareness about the fact that Museums are an important means of cultural exchange, enrichment of cultures and development of mutual understanding, cooperation and peace among peoples.
About the International Council of Museums (ICOM) :
President : Emma Nardi (Italy)
Headquarters : Paris, France
Establishment : 1946
3. World AIDS Vaccine Day 2023 - 18th May
World AIDS Vaccine Day, also known as HIV Vaccine Knowledge Day(HVAD), is annually observed across the globe on 18th May to create awareness about the importance of Human Immunodeficiency Virus (HIV) vaccinations in preventing Acquired immunodeficiency syndrome (AIDS) and HIV infections.
The observance of HVAD also recognizes the volunteers, community members, and researchers working to find a safe and effective vaccine to prevent HIV.
- Red Ribbon : The red ribbon is the internationally recognized symbol of awareness and support for people living with HIV.
About HIV and AIDS :
- HIV is a virus that attacks the body's immune system, and if left untreated, it can lead to AIDS, a chronic immune system disease.The transmission of HIV can occur through contact with infected blood, semen, or vaginal fluids.
- While there is no cure for HIV/AIDS, medications are available to control the infection and prevent disease progression.
- In 1983, French virologists Luc Montagnier and Françoise Barré-Sinoussi discovered the HIV virus that causes AIDS. Their significant contribution to HIV discovery earned them the 2008 Nobel Prize in Physiology or Medicine. Alongside their discovery, Harald Zur Hausen was also awarded the 2008 Nobel Prize in Medicine for his identification of the viral cause of cervical cancer.
- HIV Vaccine :
Currently, there are no available vaccines that can prevent HIV infection.
The development of an HIV vaccine faces numerous scientific challenges, primarily because the virus integrates into the host DNA, limiting potential vaccine platforms.
The unique characteristics of HIV, including rapid replication, frequent mutation, evasion of the immune system, and the creation of viral reservoirs, make vaccine development difficult.
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