News360 - 18th April | Daily Current Affairs

National and International News :

1. Dr. Appasaheb Dharmadhikari was bestowed with the Maharashtra Bhushan Award for 2022 by Union Home Minister Amit Shah

Dr. Appasaheb Dharmadhikari was honored with the Maharashtra Bhushan Award for 2022 by Union Minister Amit Shah, Ministry of Home Affairs (MHA), during a public event held at Kharghar area in Raigarh district, Maharashtra on April 16, 2023. The award was accompanied by a shawl, a citation, a memento, and a cheque of Rs 25 lakh, along with a 10-feet garland of roses. It is worth mentioning that Dr. Dharmadhikari graciously donated the entire prize money of Rs 25 lakh to the Chief Minister's (CM) Relief Fund.

About Dr. Appasaheb Dharmadhikari :

Dr. Appasaheb Dharmadhikari dedicated his entire life to serving the community, embodying the mantra of "Let's March On", without seeking any personal recognition.

His unwavering commitment to bringing about positive change inspired countless individuals to join him in his endeavors.

Dr. Dharmadhikari's remarkable work covered a wide spectrum of social issues, including advocating for children's welfare, distributing free educational materials, conducting tree plantation drives, promoting cleanliness initiatives, organizing blood donation camps, and empowering women and tribals.

He also played a pivotal role in dispelling superstitions and promoting literacy.

In 2017, Dr. Dharmadhikari was honored with the prestigious Padma Shri award in recognition of his extraordinary contributions to society.

Additionally, he was bestowed with the esteemed "Maharashtra Bhushan Award", the highest civilian award instituted in 1995 by the Government of Maharashtra State.

**  The "Maharashtra Bhushan Award" acknowledges individuals who have made significant contributions to the social fabric of Maharashtra.

2. India, Japan & France Launch Common Platform for Sri Lankan Debt Restructuring Programme

India, Japan, and France have jointly announced the establishment of a common platform for talks among creditors to address the debt restructuring program of Sri Lanka, a country that has been grappling with an unprecedented financial crisis since 2022.

Representatives from the three creditor countries, including Finance Minister (FM) Nirmala Sitharaman from India, FM Shunichi Suzuki from Japan, and French Director General of the Treasury Emmanuel Moulin, held a press briefing on the sidelines of the annual spring meetings of the World Bank and the International Monetary Fund (IMF) in Washington DC, United States.

The platform aims to facilitate multilateral cooperation among the creditors and Sri Lanka in the debt restructuring process, as they work together to find solutions to the financial challenges faced by Sri Lanka.

Important :

(i) Finance Minister Nirmala Sitharaman reiterated India's commitment to supporting Sri Lanka in addressing its ongoing economic crisis. She highlighted the importance of collaborative efforts among creditors to ensure transparency and fairness in the debt restructuring discussions.

(ii) Sri Lankan President Ranil Wickremesinghe, who participated virtually in the press conference, mentioned the recent agreement with the IMF in March 2023 for a bailout package worth USD 2.9 billion.

(iii) The IMF's Executive Board approved a 48-month extended arrangement under its Extended Fund Facility (EFF) for Sri Lanka, amounting to SDR 2.286 billion, following assurances from the creditors regarding financing.

(iv) Sri Lanka's bilateral debt stands at USD 7.1 billion, with China being the largest creditor with USD 3 billion, followed by the Paris Club (France) with USD 2.4 billion, and India with USD 1.6 billion.

3. India signs MoU with UN WFP for sending wheat to Afghanistan

(i) The Ministry of External Affairs (MEA), Government of India (GoI), has signed a Memorandum of Understanding (MoU) with the United Nations (UN) World Food Programme (WFP) to facilitate the delivery of 10,000 metric tonnes of wheat as the fifth tranche of aid for the people of Afghanistan.

(ii) The fifth tranche of aid, which will be supplied through Iran's Chahbahar port, builds upon the assistance already provided by the WFP to people in need in Afghanistan.

(iii) This MoU is a result of India's declaration in March 2023 that 20,000 metric tonnes of wheat would be transported through Iran's Chahbahar port, which was made during the India-Central Asia Joint Working Group on Afghanistan.

(iv) According to the WFP, there is a significant food insecurity problem in Afghanistan, with 9 out of 10 Afghan families unable to afford enough food, and at least 20 million Afghans at risk of hunger.

4. Federal Aviation Administration (FAA) of USA: India’s IASA will continue to be published as Category 1

The Directorate General of Civil Aviation (DGCA) has received confirmation from the Federal Aviation Administration (FAA) of the United States of America (USA) that India's International Aviation Safety Assessment (IASA) category will continue to be published as Category 1.

The IASA program was conducted by the FAA over a one-year period, which included physical audits in October 2021 and further reviews in July and September 2022.

India's Effective Implementation (EI) score from the recent International Civil Aviation Organization (ICAO) audit conducted in November 2022 increased to 85.65% from the previous EI of 69.95%.

Category 1 status signifies that an airline has the ability to operate flights, provide services to American cities, and participate in codesharing arrangements with US carriers.

5. Atal Tinkering Labs linked with KVKs & ATMA to involve students in Agri Innovation

On April 13, 2023, the Atal Innovation Mission (AIM) of NITI Aayog (National Institution for Transforming India) and the Ministry of Agriculture and Farmers Welfare (MoA&FW) came to an agreement to connect Atal Tinkering Labs (ATLs) with Krishi Vigyan Kendra (KVKs) and Agricultural Technology Management Agency (ATMAs) as part of an initiative.

Objective : To foster innovation in the agricultural sector among students in schools throughout India.

Prime Minister Narendra Modi proposed and initiated the collaboration idea to connect the Atal Tinkering Labs (ATLs) with the Krishi Vigyan Kendras (KVKs) across the country. The Prime Minister also suggested exploring the possibility of linking soil testing labs with ATL schools, as a part of this initiative.

Important :

(i) KVKs and ATMAs will collaborate with nearby ATLs to provide information, training, and inputs for agricultural-related innovation, functioning as a "Single Window Agricultural Knowledge Resource and Capacity Development Centre."

(ii) AIM has mapped and shared a list of 55 ATLs based on KVKs and ATMAs shared by MoA&FW. In the first phase, one KVK under each of the 11 ATARIs will be involved, providing technology support and facilitating knowledge-sharing and skill-building exercises. 

KVK experts will visit nearby ATLs and provide literature, seeds, and other inputs as required. The pilot project will be extended based on outcomes after two years.

(iii) MoA&FW and ATL can develop a problem-finding platform and organize hackathons to adopt an integrated learning approach for finding solutions to agricultural sector problems, as stated by Manoj Ahuja, Secretary, DA&FW, MoA&FW.

6. National Highway Authority of India (NHAI) & Nagarjunasagar-Srisailam Tiger Reserve Sign a MoU to Enable FASTag-Based Payments at Forest Entry Points

The IHMCL has signed an MoU with the Nagarjunasagar-Srisailam Tiger Reserve, spanning Andhra Pradesh and Telangana, to streamline the entry process for vehicles entering the forest area.

The initiative aims to establish a payment mechanism based on FASTag at forest entry points.

This will enhance the benefits of the EMC fee collected by FASTag at various Tiger Reserve entry points.

The IHMCL, established by NHAI for electronic tolling, is leading this effort to promote a seamless and efficient entrance process for vehicles entering the forest area.

Key notes :

(i) The FASTag system, utilizing RFID technology for automatic toll payments at toll plazas, is now mandatory for all vehicles with four wheels or above in India.

(ii) Enabling FASTag-based payments at forest entry points will ensure visitors can easily enjoy the natural beauty and wildlife of these places.

(iii) The collaboration between IHMCL and the Forest Department is a crucial step towards promoting sustainable tourism and protecting natural resources by reducing motor emissions at forest entry points.

7. Russia conducts Test Launch of ‘Advanced’ Intercontinental Ballistic Missile

On April 11, 2023, the Russian Defense Ministry conducted a successful test launch of an "advanced" Intercontinental Ballistic Missile (ICBM) from a mobile ground-based missile system at the Kapustin Yar test site in Russia's southern Astrakhan region.

The combat crew of the Strategic Missile Forces participated in the tests.

The purpose of the launch was to test the advanced combat equipment of intercontinental ballistic missiles.

The test confirmed the correctness of the design and technical solutions used in the development of new strategic missile systems.

According to the Russian Defense Ministry, the missile successfully hit the target at the Sary-Shagan training ground in Kazakhstan.

8. Asian Wrestling Championships 2023: Aman Sehrawat wins India’s 1st Gold Medal at Astana, Kazakhstan

On April 13, 2023, Aman Sehrawat, a freestyle wrestler, won India's first gold medal in the men's 57kg freestyle category at the 36th edition of the Asian Wrestling Championships held in Astana, Kazakhstan from April 9 to April 14, 2023.

Aman Sehrawat secured the gold medal by defeating Kyrgyzstan's Almaz Smanbekov with a score of 9-4. Smanbekov had previously won the bronze medal in 2022.With Aman Sehrawat's victory, India has won a total of 14 medals in the championship, including one gold, three silvers, and ten bronzes, and is currently ranked 7th in the overall medal tally.

Kazakhstan secured the top position in the medal tally, followed by Japan and Iran.

9. CM Pushkar Singh Dhami launches “A-HELP” Programme in Uttarakhand

The Chief Minister (CM) of Uttarakhand, Pushkar Singh Dhami, launched the "A-HELP" (Accredited Agent for Health and Extension of Livestock Production) program at the Survey of India Auditorium in Dehradun, Uttarakhand.

As part of the A-HELP program, women have been selected to lead and enhance livestock-related activities in remote rural areas, in line with the vision of the Government of India.

A-HELP Program :

(i) Trained A-HELPs, under the A-HELP Program, will play a crucial role in preventing various infectious diseases in animals, conducting artificial insemination as part of the Rashtriya Gokul Mission (RGM), tagging of animals, and facilitating animal insurance.

(ii) The A-HELP program aims to provide primary services and bridge the gap between local veterinarian clinics and livestock owners, ensuring better access to veterinary care in remote areas.

(iii) As part of the RGM, the livestock breed improvement program will be carried out with the assistance of a large number of trained A-HELP workers who are interested in performing artificial insemination, and who will receive additional training for the same .

Key notes ;

(i) Saurabh Bahuguna, Minister of Animal Husbandry, Dairy and Fisheries, emphasized the significant role of women in livestock rearing and allied activities.

(ii) Despite the prospects available to women in the livestock sector, there has been a lack of institutional support until now.

(iii) The A-HELP program aims to ensure the economic upliftment of livestock owners while actively promoting the participation and involvement of women in livestock-related activities.

(iv) Serving as an organic link between livestock producers and veterinary services, A-HELP will act as the farmers' "first port of call" when they require assistance.

(v) The primary responsibility of an A-HELP worker is to address the healthcare needs of the livestock population in a village, providing vital veterinary services and support.

Banking and Finance News :

1. SBI Reintroduced Retail term deposit scheme ‘AMRIT KALASH’

On April 12, 2023, the State Bank of India (SBI) announced the reintroduction of the retail term deposit scheme 'AMRIT KALASH'.

The 'AMRIT KALASH' scheme has a tenure of 400 days and offers an interest rate of 7.6% for senior citizens and 7.1% for others.

Initially launched in February 2023, the scheme had a validity from February 15, 2023, to March 31, 2023.

The scheme has now been reintroduced with a validity from April 12, 2023, to June 30, 2023.

The scheme is applicable for domestic retail term deposits, including non-resident Indian (NRI) rupee term deposits (less than Rs.2 crore), new and renewals, term deposits, and special term deposits, for the specific tenure mentioned.

2. Chennai Metro launches Singara Chennai Card in association with SBI

Chennai Metro Rail Ltd (CMRL) in collaboration with State Bank of India (SBI) has introduced the 'Singara Chennai Card' [National Common Mobility Card (NCMC)] to enable seamless transportation for passengers.

SBI provides the card free of charge at the stations, but passengers need to provide identity proof and pay a fee of 1.8% of the amount they recharge the card.

The Singara Chennai cards are now available not only in Chennai metro stations but also in other metros that accept RuPay NCMC cards, including MMRDA (Mumbai Metropolitan Region Development Authority) Mumbai Line 2A & 7, Bangalore Metro, Delhi Metro Airport Line, Kanpur Metro, BEST (Brihanmumbai Electricity Supply and Transport) Buses in Mumbai, and Kadamba Transport Buses in Goa.

The technology for RuPay NCMC cards has been developed by the National Payments Corporation of India (NPCI).

Key notes :

(i) Initially, the Singara Chennai cards are available for purchase at 7 stations in Chennai (Tamil Nadu), including Koyambedu, Chennai Central, Chennai Airport, High Court, Alandur, Thirumangalam, and Guindy. These cards can be used at the automatic gates of all the metro stations.

(ii) The NCMC card features a unique 'Stored Value Area' that can hold up to Rs. 2,000 and can be utilized for offline ticket purchases.

(iii) The NCMC card is an inter-operable transport card designed by the Ministry of Housing and Urban Affairs (MoHUA).

(iv) In the future, these cards will also enable commuters to use MTC buses, suburban trains, tolls, parking, smart cities, and shops across most of India.

(v) (iv) For new card applications and recharging, SBI provides a dedicated website 

(https://transit.sbi/swift/customerportal?pagename=cmrl) .

The card balance can be topped up with cash or using online bank accounts.

(vi) The end-to-end ticketing system for CMRL will be managed by Paycraft, a provider of digital financial services.

Other News :

1. World Chagas Disease Day 2023 – 14th April

World Chagas Disease Day (WCDD) is observed annually on April 14 worldwide to raise awareness about Chagas Disease, also known as American trypanosomiasis. This disease can cause serious heart and digestive issues and is caused by the protozoan parasite Trypanosoma cruzi (T. cruzi).

The theme for World Chagas Disease Day observed on April 14, 2023, was "Time to integrate Chagas disease into primary health care".

The first-ever World Chagas Disease Day was observed on April 14, 2020.

World Health Organisation (WHO) :

Director General : Dr. Tedros Adhanom Ghebreyesus

Headquarters : Geneva, Switzerland

Establishment : 7 April 1948

2. National Fire Service Day 2023 – 14th April

National Fire Service (NFS) Day is observed annually on April 14 in India to honor the firefighters who have sacrificed their lives in the line of duty and to highlight the importance of fire service.

This day is also observed as Martyr's Day to pay tribute to the Fire Service personnel who lost their lives on April 14, 1944, during the massive Bombay explosion at the Victoria Dock in the Mumbai Port.

The theme for National Fire Service Day/Week 2023 is "Awareness in Fire Safety for Growth of National Infrastructure" (AGNI), emphasizing the significance of fire safety in the development of national infrastructure.

Fire Service Week or Fire Prevention Week :

(i) Fire Service Week (FSW) or Fire Prevention Week is observed annually nationwide from April 14 to 20 under the guidance of the Fire Adviser, Ministry of Home Affairs.

(ii) The National Safety Council (NSC) has been promoting the FSW Campaign since 1999 with the aim of spreading awareness about Fire Safety among employees, their families, and the general public.

3. World Hemophilia Day 2023 - 17th April

World Hemophilia Day is observed annually worldwide on April 17th to raise awareness about Hemophilia, a hereditary bleeding disorder that affects blood clotting.

April 17th, 2023 marks the 34th World Hemophilia Day, organized by the World Federation of Hemophilia (WFH).

The theme for World Hemophilia Day 2023 is "Access for All: Prevention of bleeds as the global standard of care".

World Hemophilia Day was initiated by the World Federation of Hemophilia (WFH) in 1989.

The first-ever World Hemophilia Day was observed on April 17th, 1989.

About Hemophilia :

Hemophilia is a rare condition that can result in spontaneous bleeding as well as bleeding following injuries or surgery.

Hemophilia occurs in approximately 1 out of every 5,000 male births.

Cause :

Hemophilia is caused by a mutation or change in one of the genes that provide instructions for producing the clotting factor proteins necessary for blood clot formation.

Types of Hemophilia :

There are several different types of hemophilia, with the following two being the most common:

(i) Hemophilia A (Classic Hemophilia) - This type is caused by a deficiency or reduction in clotting factor VIII.

(ii) Hemophilia B (Christmas Disease) - This type is caused by a deficiency or reduction in clotting factor IX.

World Federation of Hemophilia (WFH) :

President : Cesar Garrido (Venezuela)

Chief Executive Officer (CEO) : Alain Baumann

Headquarters : Montréal, Québec, Canada

4. World Voice Day 2023 - 16th April

World Voice Day (WVD) is an annual global observance held on April 16th to celebrate the power of voice and raise awareness about its importance. The day also aims to create awareness about issues that affect vocal health.

World Voice Day 2023 was observed on April 16th, 2023, under the theme/motto "Your Voice Matters".

The theme for WVD was chosen by members of the American Academy of Otolaryngology-Head and Neck Surgery (AAO-HNS) Voice Committee.

World Voice Day was initiated by the Brazilian Society of Laryngology and Voice in 1999, and the first World Voice Day was observed as Brazilian Voice Day on April 16th, 1999.

The day was later recognized as a global awareness day by the members of the Academy's Speech, Voice, and Swallowing Disorders Committee.

Objectives of World Voice Day :

(i) Raise awareness about voice-related occupations and the impact of voice disorders on individuals in these professions.

(ii) Highlight the role of otolaryngology in the diagnosis and treatment of voice disorders, emphasizing the importance of seeking professional help.

(iii) Raise awareness about risk factors for laryngeal cancer, promoting early detection and prevention measures.

News360 - 15th , 16th and 17th April , 2023 | Daily Current Affairs

National and International News :

1. Competition Commission of India (CCI) Grants Approval to NBCUniversal for Acquisition of Shareholding in BTS Investment and BTS VCC

The Competition Commission of India (CCI) has granted approval under Section 31(1) of the Competition Act, 2002 for the acquisition of certain shareholdings of BTS Investment 1 Pte. Ltd. (BTS Investment) and Bodhi Tree Systems VCC (BTS VCC) by NBC Universal Media, LLC (NBC Universal), a wholly-owned subsidiary of Comcast Corporation.

NBC Universal will be acquiring BTS Investment and BTS VCC as part of the proposed combination, and BTS Investment will utilize a portion of the revenues from NBC Universal's investment to further invest in Viacom18 Media Private Limited (Viacom18).

Furthermore, the CCI has also given its approval for the acquisition and ownership of Viacom18 by BTS Investment in 2022.

2. CCI Approves JSPL's Acquisition of Stake in MSSSL from Mukand Limited

The acquisition of 5.51% of the equity share capital in Mukand Sumi Special Steel Limited (MSSSL) by Jamnalal Sons Private Limited (JSPL) from Mukand Limited (Mukand) and its nominees has been approved by the CCI.

JSPL has fully paid up and acquired 25,71,150 equity shares with a face value of Rs 10 each in MSSSL from Mukand.

JSPL is the acquirer, while MSSSL is the enterprise whose shares are being acquired.

Mukand holds 25,71,055 equity shares of MSSSL solely, and Mukand, along with its nominees, holds a total of 95% of the equity shares of MSSSL.

3. Solar Energy Corporation of India gets ' Miniratna Category-I ' status

On April 10, 2023, the Ministry of New and Renewable Energy (MNRE) issued a communication granting the Solar Energy Corporation of India Ltd (SECI) the status of Miniratna Category-I Central Public Sector Enterprise (CPSE).

SECI is the only Central Public Sector Enterprise (CPSE) exclusively dedicated to the Solar Energy Sector.

SECI was incorporated in 2011 and serves as the primary implementing agency for renewable energy schemes/projects of MNRE, working towards fulfilling India's international commitments.

To date, SECI has awarded Renewable Energy (RE) project capacities of over 56 GW (Giga Watt) and is actively involved in setting up projects through its own investments and as a Project Management Consultant (PMC) for other public sector entities.

SECI holds the highest credit rating of AAA as per domestic rating agency ICRA.

4. India maintains its Category 1 status in the International Aviation Safety Assessment (IASA) program of the United States Federal Aviation Administration (FAA)

India has maintained its Category 1 status in the International Aviation Safety Assessment (IASA) program of the United States Federal Aviation Administration (FAA). The FAA conveyed this information to the Directorate General of Civil Aviation (DGCA), Ministry of Civil Aviation, on April 12, 2023.

Important :

(i) As part of its IASA program, the FAA conducted an audit of the DGCA, India from October 25th to 29th, 2021, focusing on aircraft operations, airworthiness, and personnel licensing.

(ii) The IASA assessment was followed by final consultations on April 25th - 26th, 2022, and subsequent reviews by the FAA in July 2022 and September 2022.

(iii) Based on the positive outcomes of the assessment and follow-ups, the FAA informed DGCA that India continues to meet the international standards for aviation safety oversight of the Chicago Convention & its Annexes, and has retained its FAA IASA Category 1 status, which was last assessed in July 2018.

Benefits :

(i) A country with Category 1 status under the IASA program is allowed to operate and expand its services to destinations in the USA, as well as engage in codeshare agreements with US air carriers.

(ii) The IASA program assesses a country's compliance with safety standards established by the International Civil Aviation Organization (ICAO) in relation to its oversight of air carriers.

(iii) The program specifically focuses on a country's ability to adhere to international aviation Safety Standards and Recommended Practices as outlined in Annex 1 (Personnel Licensing), Annex 6 (Operation of Aircraft), and Annex 8 (Airworthiness of Aircraft) to the International Convention on Civil Aviation, commonly known as the "Chicago Convention".

5. India Ranks 5th in AI Investment According to AI Index Report 2023; US Leads the List

According to the 6th edition of the annual Artificial Intelligence (AI) Index Report published by Stanford University's Human-Centered Artificial Intelligence (HAI), India has secured the 5th position globally in terms of private investments received in 2022 by startups offering AI-based products and services, totaling to US$3.24 billion.

The United States (US) led the world in total AI private investment in 2022 with a staggering US$47.4 billion, followed by China with US$13.4 billion, the United Kingdom with US$4.4 billion, and Israel with US$3.24 billion.

India's 5th place ranking surpassed countries like South Korea, Germany, Canada, and Australia, among others.

Global AI private investment was $91.9 billion in 2022, which represented a 26.7% decrease since 2021.

When analyzing private investments in AI by geographic area from 2013 to 2022, India emerged as the 6th leading country with a total funding of US$7.73 billion for AI startups. Notably, nearly 40% of this investment was made in the year 2022.

The list was topped by the United States (US), followed by China, the United Kingdom, Israel, and Canada in terms of private investments in AI during the same period.

Important :

(i) Chennai-based conversational AI startup Uniphore raised $400 million in a Series E funding round last year at a valuation of $2.5 billion, making it one of the notable Indian AI startups.

(ii) The share of Indian AI journal publications has shown a steady increase from 1.3% in 2010 to 5.6% in 2021, reflecting the growing research and contribution of Indian researchers in the field of AI.

(iii) As of 2022, a significant proportion (24.2%) of GitHub AI projects were contributed by software developers from India, indicating the country's active involvement in AI-related open source projects.

(iv) India, the United States, and Germany were the three countries or regions with the highest AI skill penetration rates as of 2022, with India leading at 3.2%, followed by the United States at 2.2%, and Germany at 1.7%.

(v) In 2022, researchers from Canada, Germany, and India made notable contributions to the development of large language models (LLMs) for the first time, showcasing the global collaboration in AI research. Additionally, 54% of researchers working on LLMs were from American institutions, highlighting the United States' prominent role in this area of AI research.

6. TCG Anadolu: Türkiye's Largest Warship and the Pioneer Drone Carrier in the World

The President of the Republic of Türkiye, Recep Tayyip Erdoğan, has officially unveiled 'TCG Anadolu', the country's largest warship and the world's first unmanned combat aerial vehicle (UCAV) carrier. This amphibious assault vessel of the Turkish Navy, which can function as a landing helicopter dock (LHD) as well as a drone carrier, was constructed in Istanbul by Sedef Shipbuilding, an Ottoman company. 

It is part of the 'Multi-Purpose Amphibious Assault Ship Project' and commenced trials in March 2022. The design of TCG Anadolu is based on the Juan Carlos I aircraft carrier, an L-61 vessel also manufactured by Navantia of Spain.

Features :

The TCG Anadolu boasts impressive features, including a length of 231 meters (758 feet) and a width of 32 meters (105 feet), making it the largest ship in the Turkish Navy. It has the capability to carry troops, combat helicopters, military drones, land vehicles, and light Warcrafts.

With a maximum speed of 20.5 knots and a maximum displacement of 27,436 tons, the TCG Anadolu can travel up to 9,000 nautical miles. Its deck has the capacity to accommodate 11 UCAVs or 10 helicopters, while its hangar can hold 30 UCAVs or 19 helicopters.

Equipped with four mechanized vehicles, two personnel landing vehicles (LCVP), and two landing craft air cushions (LCAC), the TCG Anadolu is well-equipped for various military operations.

Key Points :

(a) TCG Anadolu, the world's first warship of its kind, is capable of landing and taking off Turkish UCAVs Bayraktar TB3 and Kizilelma, as well as light attack aircraft Hurjet.

(b) This multi-purpose ship will enable Turkey to conduct military and humanitarian operations worldwide, positioning it as a leader in game-changing technologies in the defense sector.

(c) The addition of TCG Anadolu will bolster Turkish naval power and make Turkey one of the few countries in the world with an indigenous aircraft carrier.

(d) The ship's weapons, combat management, electronic warfare, infrared search and track, electro-optical search, laser warning, torpedo defense systems, and radars are all domestically built.

(e) With its own logistics support and without the need for a home base, TCG Anadolu will have the capacity to transport at least a battalion-sized force to designated regions.

Banking and Finance News :

1. HDFC Bank has inked a deal with KEXIM for a credit line worth USD 300 million, while HDFC Mutual Fund has introduced new schemes catering to the large, mid, and small-cap segments

HDFC Bank and Export Import Bank of Korea (KEXIM) recently executed a 'Master Inter Bank Credit Agreement' on April 12, 2023, for a credit line of USD 300 million. The agreement was formally signed by representatives from both banks at GIFT (Gujarat International Finance Tec) City in Gandhinagar, Gujarat.

The purpose of this credit facility is to support the funding requirements of companies that have equity participation from Korean companies, companies with business relationships with Korean companies, and consumers seeking to purchase cars manufactured by Korea-related companies.

Important Points :

(i) The agreement will enable HDFC Bank to expand its business with Korean companies and products, potentially leading to increased growth in their operations.

(ii) This deal could facilitate trade and investment between India and Korea, which may result in the creation of more jobs in India.

(iii) Korea Eximbank, as a Korean government export credit agency, provides loans and credit to support Korean companies engaged in international business activities.

2. Canara Bank and Bharat BillPay have joined forces to enable cross-border bill payments for the Indian diaspora residing in Oman

Canara Bank, in collaboration with NPCI Bharat BillPay Ltd (NBBL) and Musandam Exchange, Oman, has introduced cross-border inward bill payment services for Indians residing in Oman.

NPCI stands for National Payments Corporation of India, and NBBL is a wholly owned subsidiary of NPCI, responsible for facilitating bill payments in India.

Important points :

(i) This initiative will enable Non-Resident Indians (NRIs) to utilize the platform provided by the Bharat Bill Payment System (BBPS) to make bill payments on behalf of their families through Musandam Exchange in Oman.

(ii) Canara Bank becomes the first public sector bank (PSB) in India to offer inbound cross-border bill payment services through BBPS, with the introduction of this feature.

(iii) Musandam Exchange, managed by Canara Bank, becomes the first exchange house in Oman to go live with cross-border inbound bill payments.

(iv) The cross-border bill payment service is already operational in Kuwait, facilitating inbound remittances for various bill categories such as electricity, water, mobile phone, gas, credit card bills, and more.

3. HDFC Mutual Fund launches schemes for Large, Mid & Small-Cap Segments

HDFC Asset Management Co. Ltd., the investment manager of HDFC Mutual Fund (HDFC MF), has introduced three new schemes, namely HDFC S&P BSE 500 Index Fund, HDFC NIFTY Midcap 150 Index Fund, and HDFC NIFTY Smallcap 250 Index Fund. These schemes offer investors the opportunity to diversify their portfolio across large, mid, and small-cap segments.

The subscription for these schemes opened to the public on April 6, 2023, and will close on April 18, 2023. These schemes are open-ended and replicate/track the performance of S&P BSE 500, NIFTY Midcap 150 Index, and NIFTY Smallcap 250 Index, respectively.

Important Points :

(i) These investment schemes are suitable for investors with a low risk tolerance who wish to broaden their portfolio.

(ii) The schemes do not involve any 'entry load' or 'exit load', meaning that investors do not need to pay any additional charges to invest in or exit from the schemes.

4. On its 35th Foundation Day, SEBI reveals a new logo featuring a modern design

(i) On April 12, 2023, the Securities and Exchange Board of India (SEBI) unveiled a new logo as part of its 35th Foundation Day celebrations. The logo was formally unveiled by Madhabi Puri Buch, Chairperson of SEBI, at the SEBI Head Office in Mumbai, Maharashtra. The event was attended by former Chairpersons and former & present Whole Time Members of SEBI.

(ii) The new logo features a modern design while retaining the traditional blue palette. It represents a unique combination of SEBI's rich traditions and its new data and technology-based approach in its three areas of mandate in the securities market: development, regulation of the securities market, and investor protection.

(iii) The new logo reflects SEBI's commitment to being a facilitator in the growth of the economy through capital formation, while also retaining its consultative approach in policy making and embracing the power of data and technology.

5. India's exports in FY23 surged by 6% to reach USD 447 billion, while imports witnessed a substantial increase of 16.5% to reach USD 714 billion

Union Minister Piyush Goyal, from the Ministry of Commerce and Industry (MoCI), has announced that India's exports have achieved a remarkable 6% increase to reach a record high of USD 447 billion in the financial year 2022-23 (FY23). This is a significant rise from USD 442 billion in FY22. Meanwhile, imports have also surged, increasing by 16.5% to USD 714 billion from USD 613 billion in FY22.

The growth in exports can be credited to the robust performance of sectors such as petroleum, pharmaceuticals, chemicals, and marine, which have witnessed strong growth in outgoing shipments.

Union Minister Piyush Goyal shared this data while on a 3-day visit to France and Italy from April 11-13, 2023, where he held meetings with leaders and top executives from these countries to further strengthen trade and investment ties.

Important updates on India's export performance :

(i) India's overall exports, including goods and services, have recorded an impressive 14% increase, reaching a historic high of USD 770 billion in FY23, compared to USD 676 billion in FY22 and USD 500 billion in FY21.

(ii) Service exports from India have also shown remarkable growth, surging from USD 254 billion in 2021-2022 to USD 323 billion in 2022-2023, marking a significant 27.16% increase. This growth can be attributed to the thriving business processing, accounting, and Information Technology (IT) sectors.

(iii) Several goods sectors have witnessed notable growth, including oil meals, electronic goods, tobacco, oil seeds, rice, coffee, fruits and vegetables, leather goods, ceramics, pharmaceuticals, marine products, chemicals, and ready-made textiles.

6. RBI approves re-appointment of Sanjay Agarwal as MD & CEO of AU SFB for 3 years

The Reserve Bank of India (RBI) has granted approval for the re-appointment of Sanjay Agarwal as the Managing Director (MD) and Chief Executive Officer (CEO) of AU Small Finance Bank (AU SFB), based in Jaipur, Rajasthan, for a term of 3 years commencing from 19th April 2023. Additionally, Uttam Tibrewal has been re-appointed as the Whole Time Director of AU SFB for a period of 3 years, also effective from 19th April 2023.

(i) Sanjay Agarwal, a Chartered Accountant and the promoter of AU Small Finance Bank (AU SFB), currently holds the position of MD & CEO. With over 26 years of strategic executive experience, he brings in-depth expertise in Retail Finance, Accountancy, Agriculture & Rural Economy, Banking, Human Resource Management, Credit Risk, and Business Management.

(ii) Uttam Tibrewal, who joined the Board of AU SFB in 2005, has a vast experience of over 23 years in the Financial Service sector. He has a rich background in Agriculture & Rural Economy, Financing small-scale industry, Accountancy, Banking, Risk and Business Management. Currently, he oversees the branch and personal banking, as well as leads various departments including Retail Assets such as Wheels & Secured Business Loans, Home Loans, and Agricultural Small- and Medium-Sized Enterprises (Agri-SME) Loans.

Other News :

1. National Award Winning Actress Uttara Baokar Passed Away

Renowned theatre artist and National Award-winning actress Uttara Baokar breathed her last in Pune, Maharashtra, at the age of 79. Born on 5th August 1944, her demise marks the end of a distinguished career in the performing arts.

About Uttara Baokar :

Uttara Baokar was a seasoned actress with a career spanning over 5 decades. She received her training at the prestigious National School of Drama (NSD) in New Delhi, Delhi.

She was widely recognized for her outstanding performances in roles such as Padmavati in Mukyhamantri, Mena in Mena Gurjari, and Desdemona in Shakespeare's Othello. Her notable contributions to cinema include acclaimed films such as Tamas (1988), Ek Din Achanak (1989), Rukmavati Ki Haveli (1991), Two Women (Doghi) (1996), Sardari Begum (1996), Thakshak (1999), and Uttarayan (2004).

She also made her mark on television with popular serials like Rishtey, Jabb Love Hua, Kashmakash Zindagi Ki, and Jassi Jaissi Koi Nahin. Apart from her acting prowess, Uttara Baokar was known for her teaching abilities as well.

She studied acting teaching techniques at GDR Drama School in Berlin. She served as a professor for voice, speech, and acting at NSD in New Delhi. Her legacy as a versatile actress and dedicated educator will always be remembered in the world of performing arts.

Awards :

(i) Uttara Baokar won the Sangeet Natak Akademi Award for Acting (Hindi theatre) in 1984.

(ii) In 1988, she won the National Film Award for Best Supporting Actress for “Ek Din Achanak”.

2. 39th Siachen Day – 13th April 2023

Siachen Day is annually observed by the Indian Army on April 13 to commemorate the heroic "Operation Meghdoot" carried out by the Indian Army. It is a day to honor the Bravehearts of the Indian Army who made the supreme sacrifice while serving their duty during Operation Meghdoot.

The day also recognizes the unwavering dedication and courage of the Indian army personnel, known as Siachen Warriors, who continue to guard the Siachen Glacier, the northern frontier which is a part of the Union Territory (UT) of Ladakh.

Located in the eastern Karakoram range of the Himalayas, the Siachen Glacier holds strategic importance. The observance of the 39th Siachen Day on April 13, 2023, is a tribute to the valor and commitment of the Indian Army in safeguarding the nation's borders.

About Operation Meghdoot :

(i) Operation Meghdoot was led by Major (later Col) RS Sandhu.

(ii) It was the codename for the Indian Armed Forces' operation in 1984 to seize control of the Siachen Glacier in Jammu and Kashmir (now in the UT Ladakh), leading to the Siachen conflict.

(iii) It was the first military offensive of its kind.

(iv) The operation successfully prevented Pakistan's upcoming Operation Ababeel, which aimed to achieve the same objective.

(v) Indian forces were able to take full control of the 70-kilometer-long Siachen Glacier.

(vi) Currently, the Indian Army remains the only army in the world to have taken tanks and other heavy weapons to such high altitudes (well over 5,000 meters or 16,000 feet). Up to 10 army battalions from the Indian and Pakistani armies are actively deployed in the region of the glacier at heights of up to 6,400 meters (21,000 feet).

Colonel Narendra "Bull" Kumar, a mountaineering legend, created a map of Siachen that played a major role in the success of Operation Meghdoot in 1984.

News360 - 14th April , 2023 | Daily Current Affairs

 National and International News :

1. President Droupadi Murmu Gives Assent to Competition (Amendment) Bill, 2023

The Competition (Amendment) Bill, 2023, which seeks to amend the Competition Act, 2002, regulating competition in the Indian market and prohibiting anti-competitive practices such as cartels, mergers, and acquisitions that may adversely impact competition, has received assent from President Droupadi Murmu.

This amended law, known as the Competition (Amendment) Act, 2023, will come into effect on a date determined by the Ministry of Corporate Affairs (MCA).

Notably, the Act allows for different dates to be chosen for specific provisions of the law.

The responsibility for implementing and enforcing the Act rests with the Competition Commission of India (CCI).

This represents the most comprehensive changes to competition law introduced by the Government of India (GoI).

The bill was first introduced in the Lok Sabha on August 5, 2022, and referred to the Parliamentary Standing Committee on Finance led by Jayant Sinha.

After receiving the committee's report in December 2022, the Bill was reintroduced in February 2023 with several amendments.

On March 29, 2023, the Lok Sabha approved the bill after approximately 13 amendments were proposed by Union Finance Minister Sitharaman.

Subsequently, on April 3, 2023, the Rajya Sabha (the Upper House of Parliament) also approved the Competition (Amendment) Bill, 2023, amending the Competition Act, 2002.

Competition Commission of India (CCI) :

The Competition Commission of India (CCI), established in March 2009, is a statutory agency of the Government of India (GoI) entrusted with the responsibility of upholding the Competition Act, 2002.

The CCI is comprised of one Chairperson and six Members who are appointed by the GoI.

As a quasi-judicial entity, the commission provides recommendations to statutory bodies and also handles disputes related to antitrust matters.

2. NCRTC names India’s first semi high-speed Regional Rail Services as ‘RAPIDX’

(i) The National Capital Region Transport Corporation (NCRTC) has christened India's pioneering semi high-speed Regional Rapid Transit System (RRTS) as "RAPIDX," a name chosen for its easy readability and pronunciation in multiple languages.

The name "RAPIDX" symbolizes speed and progress, with the letter 'X' denoting the next generation technology and cutting-edge mobility solution.

With a remarkable design speed of 182 kmph, RAPIDX is set to connect Delhi with the National Capital Region (NCR), encompassing Meerut, Alwar, and Panipat, providing swift and efficient transportation.

(ii) The NCRTC has also unveiled the logo for RAPIDX, which features a green leaf symbol, signifying the brand's dedication to decarbonization. RAPIDX aims to not only alleviate congestion in the National Capital Region (NCR) by reducing the number of vehicles on the road but also by utilizing green energy.

As part of their sustainability efforts, the NCRTC is incorporating solar panels on stations and depots, and utilizing blended power in traction, showcasing their commitment to eco-friendly practices in line with their decarbonization goals.

(iii) RAPIDX trains are designed to operate on the RRTS corridors, which are being implemented to connect key urban nodes across the National Capital Region (NCR).

The NCRTC aims to commission a 17km priority section between Sahibabad and Duhai of the 84km Delhi-Ghaziabad-Meerut corridor ahead of schedule in 2023, and the entire first RAPIDX corridor by 2025.

The NCRTC is a Joint Venture (JV) company of the Government of India and the states of Delhi, Haryana, Rajasthan, and Uttar Pradesh (UP).

3. Kerala’s Periyar Tiger Reserve Tops in Management Review: 5th cycle of MEE

As per the summary report of the 5th cycle of Management Effectiveness Evaluation (MEE) of Tiger Reserves in India by the National Tiger Conservation Authority (NTCA), Periyar Tiger Reserve (TR) in Kerala has emerged as the best managed tiger reserve with a MEE score of 94.38%. Satpura TR in Madhya Pradesh and Bandipur TR in Karnataka secured the second and third positions with MEE scores of 93.18% and 92.42%, respectively. The report was released by Prime Minister Narendra Modi during the commemoration of 50 years of the Project Tiger programme in Mysuru, Karnataka.

Ratings :

(i) The 5th cycle of MEE for Tiger Reserves in India in 2022 revealed that the mean score was 77.92%, ranging from 50% to 94% for 51 Tiger Reserves.

(ii) Out of the 51 Tiger Reserves, 12 achieved the 'Excellent' category, followed by 20 in the 'Very Good' category, 14 in the 'Good' category, and 5 in the 'Fair' category.

(iii) Notably, in the 5th cycle of assessment, no Tiger Reserve in India was placed in the poor category.

[ About MEE score :

(i) MEE, which stands for Management Effectiveness Evaluation, is a significant approach to enhance the management perspectives of reserves and their associated landscape connectivity. According to the rating system, reserves scoring 90% and above are considered excellent, 75-89% are very good, 60-74% are good, and 50-59% are fair.

(ii) The evaluation of Tiger Reserves was based on 32 parameters, including the status of tiger conservation plan, adequacy of personnel and other resources, availability of manpower trained in wildlife conservation, and population trend of threatened species.

(iii) This evaluation process helps in preparing a mechanism for preserving the forest system by utilizing local resources effectively.  ]

Since 2006, the Government of India has been using MEE to assess Tiger Reserves across the country.India currently has 998 Protected Areas covering an area of 1,73,629 sq km, which is around 5.28% of India's geographical area.These Protected Areas include 106 National Parks, 567 Wildlife Sanctuaries, 105 Conservation Reserves, and 220 Community Reserves.Among these, 53 Tiger Reserves have been notified, providing an additional layer of protection to the Protected Areas.

Top five Tiger Reserves :-

4. MoF Establishes 4-Member Panel to Review Pension System for Government Employees

(i) A Finance Secretary-chaired committee has been formed in March 2023 to investigate the issue of NPS pensions for government employees and recommend necessary changes to the National Pension System (NPS).

(ii) The committee members include Deepak Mohanty, Chairman of PFRDA; Annie Matthew, Special Secretary of DEA, MoF; and Radha Chauhan, Secretary of DoPT, Ministry of Personnel, Public Grievances, and Pensions.

(iii) The committee's mandate is to ensure that the solution proposed fulfills the requirements of government employees while maintaining budgetary discipline.

(iv) Several states have recently abandoned the NPS in favor of the Old Pension Scheme (OPS) linked to dearness allowance, and employee associations in other states are also demanding the same.

(v) State governments of Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have informed the Government of India (GoI) of their decision to switch back to the OPS and have requested reimbursement of the corpus accumulated under the NPS.

(vi) The committee's functions include making suggestions to enhance pension benefits for government employees covered by the NPS while ensuring economic discipline to protect common citizens.

The committee will establish its own procedure and mechanism, including consultation with states, to arrive at its recommendations.

However, no specific deadline has been mentioned by the Ministry of Finance (MoF) for the submission of the committee's recommendations.

5. TN Governor approved Prohibition of Online Gaming and Regulation of Online Games Bill, 2022

(i) On April 10, 2023, the Governor of Tamil Nadu (TN) approved the 'Tamil Nadu Prohibition of Online Gaming and Regulation of Online Games Bill, 2022' to ban online gambling, including online rummy and poker with stakes.

(ii) The bill aims to address incidents of online gaming addicts losing money and falling into a debt trap.

(iii) Individuals who participate in online gambling may face a fine of Rs 5,000, a jail sentence of up to three months, or both, as per the proposed bill.

(iv) Those who advertise online gambling could face imprisonment for up to 1 year, and those who organize such activities could be imprisoned for 3 years.

(v) The bill prohibits the playing of online gambling and games of chance for money or other stakes.

(vi) It defines online games of chance as those where an element of chance dominates over skill, games are presented as games of chance, the element of chance can only be eliminated by superlative skill, or games involve cards, dice, or wheels that work on random event generators.

6. Odisha gets Rs 26,000 crore investment intent at Business Meet in Tokyo

(i) On 5th April 2023, the Odisha government received investment intents worth around Rs 26,000 crore during the Odisha Business Meet, 2023 held in Tokyo, Japan.

(ii) Naveen Patnaik, Chief Minister (CM) of Odisha, led a high-level delegation to Japan to attract investment in Odisha.

(iii) Odisha received investment intents from several sectors, including logistics, metal ancillary, steel, metal downstream, green hydrogen and green ammonia, green energy equipment manufacturing, and Information Technology (IT) and IT enabled services (ITeS) during the meet.

About the meeting :

The Odisha Business Meet 2023 was organized by the Odisha government in collaboration with the Indian Embassy in Japan, JETRO, and FICCI, and took place in Tokyo. The event witnessed attendance from more than 200 delegates representing diverse industries from Japan and the Indo-Pacific region.

Important :

During the meeting, Nihon-Utkal (NITKAL) and the International Institute of Information Technology in Bhubaneswar, Odisha signed a Memorandum of Understanding (MoU) to collaborate in the skill development sector. The event provided a platform for trade and technology transfer discussions between the business delegation from Odisha and Japanese companies. Additionally, the Chief Minister of Odisha held one-to-one Government-to-Business (G2B) meetings with notable investors from Japan.

7. MHA to provide financial assistance to States to help underprivileged inmates secure bail

(i) Ministry of Home Affairs (MHA) has launched a scheme to provide monetary aid to poor inmates who cannot afford the penalty or bail amount.

(ii) The scheme, called 'Support for Poor Prisoners', is in line with one of the announcements in the Union Budget.

(iii) It aims to provide financial support to underprivileged prisoners, particularly those from socially disadvantaged or marginalized groups with lower education and income levels.

(iv) Technology-driven solutions will be developed to ensure the benefits of the scheme reach the intended beneficiaries.

(v) The E-prisons platform and District Legal Services Authority will be strengthened to support the implementation of the scheme.

(vi) The government has taken various steps to resolve the issue of undertrial prisoners in prisons, including the 'Support for Poor Prisoners' initiative.

(vii) Section 436A has been inserted in the Code of Criminal Procedure, and a new chapter XXIA 'Plea Bargaining' has been introduced in the CrPC specifically for poor undertrial prisoners.

8. Himachal Pradesh to launch ‘Project Sanjeevani’ to empower dairy farmers

(i) The project aims to improve the lives of farmers by providing convenient and quality care for livestock at their doorsteps.

(ii) Telemedicine and technology will be utilized to reduce the turnaround time of services and control outbreaks of diseases.

(iii) The Animal Husbandry Department has signed an agreement with Bharat Financial Inclusion Ltd. (BFIL) for this initiative.

(iv) The collaboration, known as National Animal Disease Control Programme-Mobile Veterinary Van (NADCP-AHD-MVU), will enhance the delivery of livestock care with just a phone call.

(v) A toll-free telephone number for livestock care will soon become operational.

(vi) Doorstep veterinary services will be provided in 44 blocks across all 12 districts.

(vii) The initiative is unique in its use of a mobile app to connect doctors and farmers, while also tracking service efficiency, prescribed medicines, and livestock disease-related data on a single platform.

9. Hindustan Aeronautics Limited’s 3rd Light Combat Aircraft production line inaugurated in Maharashtra

(i) Defence Secretary Shri Giridhar Aramane inaugurated the third production line of Light Combat Aircraft (LCA) by Hindustan Aeronautics Ltd. (HAL) in Nashik, Maharashtra.

(ii) The new production line will increase the production capacity of LCA Tejas (MK1A) from 16 jets to 24 aircraft per year.

HAL currently has 2 manufacturing facilities for LCA Tejas in Bengaluru.

(iii) The Defence Secretary also handed over the 100th Sukhoi-30 MKI ROH (Repair and Overhaul) aircraft to the Indian Air Force (IAF).

About Tejas :

Tejas is an advanced single-engine multi-role fighter aircraft designed to operate effectively in high-threat air environments. It has garnered significant attention from various countries, including Egypt, Argentina, the US, Australia, Indonesia, Malaysia, and the Philippines, expressing interest in acquiring Tejas aircraft. In February 2021, the Indian defence ministry finalized a deal worth Rs 48,000 crore with HAL for the procurement of 83 Tejas jets for the Indian Air Force (IAF).

Important :

(i) HAL's Nashik Division has achieved a peak overhaul capacity of 20 Su-30 aircraft per year, despite supply chain issues in the current geopolitical situations.

(ii) The Signal out Certificate (SOC) of the 100th ROH aircraft was handed over by Saket Chaturvedi, CEO (MiG Complex), to Air Vice-Marshal Sarin.

(iii) HAL plans to reduce dependency on original equipment manufacturers (Russia) by indigenizing the majority of components required for ROH within the next 3 to 5 years.

Banking News :

1. RBI Issued Outsourcing of IT Services Directions 2023; Simplifies Application process for registration of CICs

The Reserve Bank of India (RBI) has issued the "RBI (Outsourcing of Information Technology Services) Directions, 2023" on April 10, 2023. These directions are aimed at regulating the outsourcing of IT services by banks, NBFCs (Non-bank financial companies), and Regulated Entities (REs) to ensure that customer responsibilities and obligations are not compromised. The Directions will come into effect from October 1, 2023, providing REs with sufficient time to comply with the requirements.

As Regulated Entities (REs) extensively rely on IT and IT-enabled Services (ITeS) to support their business models and offerings to customers, they often outsource a significant portion of their IT activities to third parties, which exposes them to various risks. 

To effectively manage these risks, the Reserve Bank of India (RBI) proposed regulatory guidelines on Outsourcing of IT Services in the Statement on Developmental and Regulatory Policies dated February 10, 2022. Subsequently, a draft Master Direction on Outsourcing of IT Services was released for public comments in June 2022. Taking into consideration the feedback received, the final RBI (Outsourcing of Information Technology Services) Directions, 2023 have now been released.

(a) Regulatory and Supervisory Requirements for REs :

(i) Outsourcing of any activity should not diminish RE's obligations, including those of its Board and Senior Management, as per RBI directions.

(ii) RE should ensure that the service provider maintains the same high standard of care as would have been employed by RE if the activity was not outsourced.

(iii) Engagement of IT service provider should not compromise or weaken the reputation of RE, as per RBI guidelines.

(iv) Outsourcing should not impede RE's ability to oversee and manage its activities effectively, whether the service provider is located in India or abroad.

(v) Outsourcing should not impede RBI in carrying out its supervisory functions and objectives.

(vi) Additional requirements related to usage of cloud computing services and outsourcing of Security Operations Center (SOC) services are outlined by RBI.

(b) Comprehensive Assessment :

REs should evaluate the need for IT Services outsourcing based on a comprehensive assessment of attendant benefits, risks, and availability of processes to manage those risks.

(c) Compliance with Statutory and Regulatory Requirements :

REs should consider all relevant laws, regulations, rules, guidelines, and conditions of approval, licensing, or registration when performing due diligence in relation to IT services outsourcing.

(d) IT Outsourcing Policy :

REs intending to outsource IT activities should establish a comprehensive Board-approved IT outsourcing policy.

REs should require their service providers to develop and establish a framework for documenting, maintaining, and testing business continuity plans and disaster recovery plans.

2. Kotak General Insurance ties up with actyv.ai to sell Insurance Products to MSMEs

Kotak Mahindra General Insurance Company Limited (Kotak General Insurance-KGI) has teamed up with actyv.ai to provide basic insurance products to new-age Micro, Small, and Medium Enterprises (MSMEs).

Important :

Kotak General Insurance (KGI) has joined forces with actyv.ai, leveraging its Artificial Intelligence (AI)-powered platform, to provide customized small Over The Counter (OTC) insurance products, including health and commercial policies. 

This collaboration aims to promote the sustainability of small businesses by extending essential insurance coverage to the final leg of the industrial value chain. Furthermore, enterprises utilizing actyv.ai's platform will now have the opportunity to offer group insurance to their distributors, retailers, and suppliers through this partnership with Kotak General Insurance.

3. ICICI Bank introduces EMI facility for UPI payments by scanning QR code

(i) ICICI Bank has introduced an easy EMI (Equated Monthly Installment) facility for UPI (Unified Payments Interface) payments made by scanning QR code.

(ii) Customers eligible for PayLater, the Bank's 'buy now, pay later' service, can avail of the EMI facility in an instant, easy, and seamless manner.

(iii) This first-of-its-kind facility enhances the affordability of lakhs of the Bank's customers as they can now instantly buy products or services by scanning the required merchant QR code at a store and making payments in EMIs.

(iv) Customers can pay a transaction amount above ₹10,000 in easy instalments of 3, 6, or 9 months.

(v) ICICI Bank was the first bank to introduce the PayLater facility in 2018 to enable customers to buy small ticket items immediately in a completely digital and paperless manner.

(vi) The PayLater facility enables customers to shop online, pay bills, and make payments to any merchant UPI ID at physical stores instantly.

Other News :

1. 58th CRPF Valour Day – 9th April 2023

CRPF Valour Day, also known as Shaurya Diwas, is observed annually on 9th April across India. It commemorates the valour of CRPF personnel during the 1965 war against the Pakistan army.

The day aims to honour the personnel of CRPF and pay tribute to those who lost their lives in the line of duty. 9th April 2023 marks the observance of the 58th CRPF Valour Day.

Director General of CRPF, Sujoy Lal Thaosen, paid tribute to the fallen heroes and martyrs during an event organized at the Shaurya Officers Institute in New Delhi.27 Gallantry medals were presented to CRPF officers who displayed courage and valour in fights against enemies of the nation.Kishan Singh, the surviving veteran of Sardar Post Battle, was also felicitated on this occasion.

2. Jallianwala Bagh Massacre 2023 - 13th April

Every year April 13th is observed as Jallianwala Bagh Massacre. 

Jallianwala Bagh Massacre, also known as the Massacre of Amritsar, took place on April 13, 1919, in Amritsar, Punjab region of India.

British troops fired on a large crowd of unarmed Indians who had gathered at Jallianwala Bagh to protest against the arrest of nationalist leaders Satya Pal and Dr. Saifuddin Kitchlew.

British military officer General Dyer entered the park with troops without giving any warning to the people.He ordered the troops to open fire on the unarmed crowd for ten minutes until their ammunition was exhausted, and then left. Congress estimated that about a thousand persons were killed and about 2000 were wounded in the incident. Bullet marks can still be seen on the walls of Jallianwala Bagh Massacre, which is now a national memorial.

General Dyer showed no regrets and went to England, where some Englishmen collected money to honor him. This act of brutality shocked many, and demands were made for an inquiry. A British newspaper called it one of the darkest moments in modern history.

News360 - 11th , 12th and 13th April | Daily Current Affairs

 National and International News :

1. PM lays Foundation Stone & Dedicates to the nation Various Projects in Chennai, TN

On April 8, 2023, the esteemed Prime Minister (PM) of India, Narendra Modi, graced the city of Chennai, Tamil Nadu (TN), with his presence as he embarked on a series of significant inaugurations and foundation stone layings for various projects.

(a) One of the highlights of PM Modi's visit was the grand inauguration of the New Integrated Terminal Building (NITB - Phase 1), fondly referred to as the 'Golden Terminal,' at Chennai International Airport. With a whopping investment of Rs 1,260 crore, this state-of-the-art terminal is set to revolutionize passenger handling at the airport, increasing its capacity from 23 Million Passengers Per Annum (MPPA) to an impressive 30 MPPA.

The New Integrated Terminal Building at Chennai International Airport is a part of the ambitious Chennai Airport Modernization Phase II project. Aptly named the 'Golden Terminal' due to its stunning golden finish, it resonates with local Tamil culture through elements such as Kolam, sarees, temples, and natural surroundings. The terminal's design is a visual treat, featuring columns resembling palm trees, motif lights reflecting South Indian Kolam patterns on the ceilings, and a roof design inspired by Bharatnatyam, a traditional dance form of the region.

One of the key features of the 'Golden Terminal' is the consolidation of all international operations, which will be moved to this new facility. The arrival and departure points of the terminal boast a whopping 54 immigration counters each, along with 11 automatic tray retrieval systems (ATRS) for carry-on baggage and 33 remote boarding gates, ensuring smooth and efficient passenger movement.

(b) PM inaugurates second Vande Bharat express train in Tamil Nadu

The Prime Minister of India inaugurated the second Vande Bharat Express train in Tamil Nadu, known as the 'Chennai–Coimbatore Vande Bharat Express', which will operate between Chennai and Coimbatore.

The train was flagged off by the PM from Puratchi Thalaivar Dr. M.G. Ramachandran Central Station in the presence of the Chief Minister and Governor of Tamil Nadu, as well as Union Minister Ashwini Vaishnaw from the Ministry of Railways.

The Vande Bharat Express will run at a speed of 130 kmph, reducing the travel time by 1 hour and 20 minutes compared to existing trains.

Unlike other Vande Bharat Express trains with 16 coaches, this train will have eight coaches.

(c) In addition, the Prime Minister also took part in the festivities to mark the 125th Anniversary of Sri Ramakrishna Math at Vivekananda House in Chennai. He also unveiled a book on the Holy Trio during the event.

(d) The Prime Minister presided over a public program at Alstrom cricket ground in Chennai, where he inaugurated and laid the foundation stone for road projects worth approximately Rs 3700 crores.

Key highlights :

(i) He inaugurated the 7.3 km long Elevated Corridor in Madurai City and the 24.4 km long four-lane road of National Highway 785.

(ii) He also laid the foundation stone for the construction of road projects of National Highway-744.

(iii) These projects will enhance inter-state connectivity between Tamil Nadu and Kerala, contributing to improved transportation infrastructure in the region.

2. (a) PM Inaugurated ‘Commemoration of 50 years of Project Tiger’; Launched IBCA

(i) On April 9, 2023, Prime Minister Narendra Modi inaugurated the program "Commemoration of 50 years of Project Tiger" at Mysuru University in Mysuru, Karnataka, the first of its kind in India, organized to mark 50 years of Project Tiger.

(ii) Project Tiger was launched by the Government of India in 1973 to conserve the national animal, the tiger (Panthera tigris), making 2023 the 50th year of Project Tiger.

(iii) The coverage of Project Tiger has increased from 9 tiger reserves in its formative years to 51 at present, spread out in 18 tiger range states, covering around 2.23% of the geographical area of India.

(iv) Project Tiger is an ongoing Centrally Sponsored Scheme of the Ministry of Environment, Forests and Climate Change providing central assistance to tiger states for tiger conservation in designated tiger reserves.

(v) As of the 2022 Tiger Census, India's tiger population stands at 3,167 in the wild, compared to 2,967 tigers in the 2018 Tiger Census.

The tiger population in India has increased by 200/6.7% in the past four years, with 1,411 tigers in 2006, 1,706 tigers in 2010, and 2,226 tigers in the 2014 cycle of evaluations.

(b) Launch of International Big Cats Alliance (IBCA)

(i) The PM launched the International Big Cats Alliance (IBCA) for the conservation of seven major big cats - tiger, lion, leopard, snow leopard, puma, jaguar, and cheetah in collaboration with countries that have the natural habitat of these species.

(ii) India proposed to launch the IBCA global alliance in March 2023 under its leadership with guaranteed funding of USD 100 million (over Rs 800 crore) to protect big cats and assured support over 5 years.

(iii) The IBCA is formed as an extension of PM Narendra Modi's call for an Alliance of Global Leaders in July 2019 to curb poaching and illegal wildlife trade in Asia.

(iv) India is the only country in the world to have 5 out of 7 big cats, including tigers, lions, leopards, snow leopards, and cheetahs, except for pumas and jaguars.

(v) The key functions of the alliance include advocacy, partnership, knowledge e-portal, capacity building, eco-tourism, partnerships between expert groups, and finance tapping.

(vi) The governance structure of IBCA will consist of a General Assembly including all member countries, a council of at least seven but not more than 15 member countries elected by the General Assembly for a term of 5 years, and a Secretariat.

The IBCA Secretary General will be appointed for a specific term based on the recommendation of the Council by the General Assembly.

3. Two-day 1st International Quantum Communication Conclave held on 27-28 March 2023

(i) On March 27, 2023, Ashwini Vaishnaw, Minister of Communications, Electronics & Information Technology and Railways, and Devusinh Chauhan, Minister of State for Communications, inaugurated the First International Quantum Communication Conclave.

(ii) The conclave was held on March 27-28, 2023 at Vigyan Bhawan, New Delhi.

The event was organized by the Department of Telecommunications (DoT), Ministry of Communications, and Telecommunication Engineering Center (TEC).

(iii) The conclave was held in collaboration with C-DOT, TSDSI, and IEEE Communications Society - Delhi chapter.

Important :

(i) The conclave witnessed the release of standards for the 'Test Guide of Quantum Key Distribution (QKD) System' and 'Quantum-Safe and Classical Cryptography System'.

(ii) C-DOT has developed QKD and Post Quantum Cryptography (PQC) security solutions for communication.

(iii) Ashwini Vaishnaw announced the Quantum Hackathon 2023 to identify vulnerabilities in QKD, PQC solutions and strengthen the Quantum Ecosystem in India.

(iv) Successful Hackathon participants will receive a prize of Rs 10 Lakh for each successful break into the QKD or PQC systems, along with an opportunity to collaborate further with C-DOT in the area of Quantum Security.

(v) Funding for the development of solutions to break QKD or PQC security was also announced through C-DOT's Collaborative Research Policy (CCRP 2022).

4. UIDAI & IIT Bombay signs MoU to Develop Touchless Biometric Capture System

(i) On April 10, 2023, UIDAI and IIT-Bombay signed an MoU to develop a touchless biometric capture system for convenient usage by people anywhere, anytime.

(ii) The collaboration aims to conduct joint research to create a mobile fingerprint capture system and a liveness model connected with the capture system.

Key highlights :

UIDAI and IIT-Bombay signed an MoU to develop a touchless biometric capture system for fingerprint authentication from home.

The system aims to capture multiple fingerprints at once and improve authentication success rate.

It will be an addition to Aadhaar services, using signal/image processing, machine learning, and deep learning technologies on a common mobile phone.

R&D will be conducted jointly through the partnership between UIDAI and IIT-Bombay's NCETIS.

Note :

NCETIS : NCETIS is a joint initiative by IIT-Bombay and MeitY, under the Digital India Programme.

It focuses on developing indigenous technology solutions for Internal Security forces.

Areas of focus include Electronic System Design and Manufacturing.

5. Andaman & Nicobar Command conducted a Joint Military Exercise “Ex KAVACH”

(i) Andaman & Nicobar Command (ANC) conducted a Joint Military Exercise "Ex KAVACH".

(ii) ANC is the first and only Tri-Service theatre command in India.

(iii) The exercise involved assets of Indian Army, Navy, Air Force, and Indian Coast Guard (ICG).

(iv) " Ex KAVACH " took place from 23rd February to 7th April 2023.

Objective :

The objective of "Ex KAVACH" was to enhance joint warfare capabilities and Standard Operating Procedures (SOPs). The exercise aimed to improve inter-operability and operational synergy between the participating forces.

6. RRI & Indian Navy partners to develop secure maritime communications using Quantum Technology

(i) Raman Research Institute (RRI) based in Bengaluru, Karnataka, has partnered with the Indian Navy to develop secure maritime communications using quantum technologies.

(ii) RRI has signed a 5-year Memorandum of Understanding (MoU) with the Weapons and Electronics Systems Engineering Establishment (WESEE), the R&D wing of the Indian Navy for this purpose.

(iii) The partnership was formalized after RRI achieved a breakthrough demonstration in establishing secure communication between a stationary source and a moving receiver using quantum key distribution.

(iv) This partnership aims to enhance research in quantum technologies for maritime use cases and aligns with India's efforts towards self-reliance.

(v) RRI is an aided autonomous research institute engaged in basic science research and receives funding from the Department of Science and Technology (DST).

7. Revenue Secretary Sanjay Malhotra launches Unified Portal of CBN

On April 11, 2023, Sanjay Malhotra, Revenue Secretary of the Ministry of Finance (MoF), launched the Unified Portal of the Central Bureau of Narcotics (CBN) to enhance efficiency, transparency, and reduce processing time for trade licenses in the pharmaceutical industry.

The launch of the Unified Portal of CBN is expected to simplify business dealings with NDPS and controlled substances in India, ensuring better compliance with transparent processes.

The CBN is a central government organization that oversees the international trade of narcotic drugs, psychotropic substances, and precursor chemicals, in accordance with various United Nations Conventions and the Narcotic Drugs and Psychotropic Substances (NDPS) Act of 1985.

The portal is designed to integrate with other government services, including Bharat Kosh, GST, PAN-NSDL validation, e-Sanchit, and UIDAI, providing a single point for obtaining licenses from CBN through database integration and ingestion.

8. Norway, Singapore gain as India’s FPI destinations in FY23, Mauritius declines

Data from the National Securities Depository Limited (NSDL) in Mumbai, Maharashtra, revealed that Norway and Singapore have emerged as the top Foreign Portfolio Investment (FPI) destinations for India in FY23, while Mauritius has experienced a significant decline.

Singapore has become the second largest jurisdiction for FPI flows in India, following the United States of America (USA), with Luxembourg ranking third. However, Mauritius has dropped to the fourth place in FY23 from its previous position as the second largest FPI destination in FY22. Norway is currently ranked eighth.

Mauritius has witnessed a decline of nearly 42% in Total Assets Under Custody (AUC), falling from Rs 5.55 lakh crore in March 2022 to Rs 3.25 lakh crore at the end of March 2023. In contrast, Norway and Singapore have experienced a 13% and 5% increase in AUC, respectively, during FY23.

The decreased attractiveness of Mauritius as a preferred location for FPI into India can be attributed to the renegotiation of the India-Mauritius tax treaty and increased scrutiny of flows.

Overall, FPI AUC has declined by 4.44% in FY23, mainly due to asset price depreciation and capital outflows of over Rs 35,000 crore.

In 2023 Year-to-Date (YTD), FPIs have sold Indian equities worth Rs 23,844 crore. January 2023 recorded the highest outflows in seven months, worth Rs 28,852 crore, but the trend moderated in February 2023 before turning positive in March 2023.

9. Odisha CM Naveen Patnaik chairs 1st digital cabinet meet from Kyoto

On April 9, 2023, Chief Minister of Odisha, Naveen Patnaik, chaired the first-ever digital cabinet meeting of Odisha from the city of Kyoto, Japan. Cabinet members joined the meeting from Lok Seva Bhawan and other districts of Odisha through the Odisha State Wide Area Network (OSWAN), a digital platform that facilitates data, video, and voice traffic, as well as inter/intra-departmental communication.

During the digital cabinet meeting, files were processed and documents were signed through OSWAN, and cabinet ministers discussed proposals before granting approval. One of the key decisions made during the meeting was the establishment of a "Directorate of Odisha Paribar" to cater to the interests of the Odia diaspora.

The Directorate of Odisha Paribar will serve as a single point of interface with government departments for the resolution of specific issues related to labor, students, cultural promotion, and clearances. It will also enlist Jagannath temples located in different parts of India and the world, promote the cultural heritage of Odisha, and organize celebrations such as Odisha Diwas and the World Odia conference at regular intervals.

Banking News :

1. RBI simplifies the application process for registration of CICs

On April 10, 2023, the Reserve Bank of India (RBI) conducted a comprehensive review of the system for processing applications for registration of Core Investment Companies (CICs) with the aim of making the process smoother and more user-friendly. 

The application form has been redesigned to be structured and aligned with the existing CIC regulations. As part of the efforts to streamline the registration process, the number of documents required to be submitted along with the application form has been reduced from 52 to 18.

2. SEBI Approves Setting Up Rs. 3,000-Crore Rescue Facility for Debt Mutual Funds

(i) The Securities and Exchange Board of India (SEBI) has decided to establish the Corporate Debt Market Development Fund (CDMDF) as an Alternative Investment Fund (AIF) with an initial corpus of Rs 3,000 crore to act as a backdrop facility for the purchase of investment-grade corporate debt securities during times of stress. 

This decision was made at the SEBI board meeting in March 2023, with the aim of increasing secondary market liquidity and encouraging optimism in the corporate bond market.

(ii) The Government of India (GoI) has permitted a 10 times utilization of this corpus, bringing the total available capital to Rs. 30,000 crore, and this new corpus is further guaranteed by the Central Credit Guarantee Corporation. 

The CDMDF is an initiative aimed at assisting mutual funds (MFs) in navigating liquidity issues in the debt market during large credit emergencies or market disruptions.

(iii) The fund, structured as an AIF, will be backed by the National Credit Guarantee Trustee Company (NCGTC) and will be able to generate funds for the purchase of corporate debt securities during market downturns. The initial funding of Rs 3,000 crore will be contributed by asset management companies (AMCs), with Rs 2,700 crore coming from MF debt schemes and the remainder borrowed from the market as needed. 

SBI Mutual Fund (SBI MF), India's largest manager of assets, will be the primary stakeholder of the proposed AIF, and the contributions of AMCs to the corpus will be proportional to their total debt assets.

(iv) Access to the fund for selling securities during market disruptions will be restricted to specific mutual fund schemes in proportion to their contribution. SEBI has also approved the framework for asset purchases made by CDMDF during market downturns and has clarified the roles and responsibilities of Trustees and Boards of AMCs of MFs, with an emphasis on unitholder protection under SEBI regulations. 

The regulations have mandated that the Board of the AMC be responsible for safeguarding the interests of unitholders in addition to those of AMC stakeholders. It has also permitted "self-sponsored AMCs" to continue in the mutual fund sector, subject to certain conditions.

Other News :

1. Former TN Chief Electoral Officer Naresh Gupta Passed Away

On April 10, 2023, Naresh Gupta, former Chief Electoral Officer (CEO) of Tamil Nadu (TN), and an IAS officer of the 1973 batch from Lucknow, Uttar Pradesh, passed away at the age of 72 in Chennai, Tamil Nadu.

During his illustrious career, Naresh Gupta held various significant positions in TN, including being the 1st Collector of Sivaganga from 1985 to 1986. He also served as the Secretary to Governor Bhishma Narayan Singh from 1991 to 1993, Home Secretary from 2001 to 2002, and Member Secretary of the State Planning Commission from 2002 to 2005. He served as the CEO of TN from 1998 to 2000 and again from 2005 to 2010.

In addition to his administrative roles, Naresh Gupta was also an author, having written a book titled "Human Development in India" based on his experiences at the Planning Commission.

After his retirement in 2010, Naresh Gupta was posted as a member of the Central Administrative Tribunal. His contributions to the public service will be remembered and cherished.

2. World Homeopathy Day 2023 – 10th April

World Homeopathy Day is celebrated annually on April 10th worldwide to honor and recognize the contributions of homeopathy in treating people around the globe. It also marks the 268th birth anniversary of Dr. Christian Friedrich Samuel Hahnemann, the founder of Homeopathy. 

The week from April 10th to April 16th, 2023 is observed as World Homeopathy Awareness Week. The aim of this day is to raise awareness about the effectiveness of homeopathy in treating various health conditions.

3. National Safe Motherhood Day 2023 – 11th April 

National Safe Motherhood Day is observed annually worldwide on April 11th to raise awareness about the significance of access to proper healthcare during pregnancy and motherhood. 

This day also commemorates the birth anniversary of Kasturba Gandhi (1869-1944), wife of Mohandas Karamchand Gandhi, who was a prominent freedom fighter and social reformer.

1st National Safe Motherhood Day was observed on 11th April 2003.

India was the 1st country to observe National Safe Motherhood Day.