News360 - 28th April , 2023 | Daily Current Affairs

 National and International News :

1. Cabinet approved 157 nursing colleges announced in FY24 Union Budget

A sum of Rs 1,570 crore has been sanctioned by the Cabinet Committee on Economic Affairs (CCEA) to establish 157 new nursing colleges in conjunction with medical colleges that were established after 2014. Uttar Pradesh (UP) will have the highest number of colleges (27), followed by Rajasthan with 23 and Madhya Pradesh with 14 .

Key points :

(i) By adding approximately 15,700 nursing graduates every year, this move aims to ensure equitable, quality, and affordable nursing education across India.

(ii) The decision seeks to address the geographical and rural-urban imbalance in the distribution of nursing colleges, as currently 40% of these colleges are located in southern India.

(iii) The establishment of these nursing colleges aligns with the national mandate for Universal Health Care (UHC) and contributes to the attainment of Sustainable Development Goals (SDG).

(iv) To support the skill development and placement of qualified nurses for overseas positions, the National Skill Development Corporation (NSDC) will collaborate with leading national and international agencies.

(v) The government aims to complete this project within the next two years, and an Empowered Committee headed by the Union Health Secretary in the Centre and Principal Secretary, Health/Medical Education in the States will monitor its progress.

2. Union Minister Nirmala Sitharaman approves Navratna status to Rail Vikas Nigam

On 26th April 2023, the Ministry of Finance (MoF) led by Union Minister Nirmala Sitharaman approved the upgrade of Rail Vikas Nigam Limited (RVNL) from a Category-I MiniRatna Central Public Sector Enterprise (CPSE) to a Navratna CPSE, becoming the 13th company to receive this status.

As per the Department of Public Enterprises (DPE), RVNL is a public sector undertaking under the Ministry of Railways (MoR) with an annual turnover of Rs 19,381 crore and a net profit of Rs 1,087 crore for the fiscal year 2021–22.

RVNL's promotion to Navratna status grants the company greater autonomy in terms of investment, setting up joint ventures, and making other financial decisions.

In 1977, the Indian government introduced the Navratna scheme to identify CPSEs with comparative advantages and encourage them in their drive to become global giants.

To be eligible for Navratna status, a CPSE must meet the following criteria :

- Be listed on Schedule A of CPSEs and have Miniratna Category I status.

- Obtain a rating of Excellent or Very Good for three years under the Memorandum of Understanding system within the last five years.

- Score at least 60 out of 100 in parameters such as net worth, net profit, total production cost, manpower cost, service cost, capital employed, and PBDIT (Profit Before Depreciation, Interest, and Taxes).

- Have at least 4 independent directors on its Board of Directors.

Note :  On 20th April 2023, RVNL incorporated a subsidiary company named Kinet Railway Solutions Limited.

3. Union Minister Amit Shah Launches World’s 1st ‘Nano DAP’ Developed by IFFCO

The world's first liquid Nano DAP (Diammonium phosphate) developed by Indian Farmers Fertiliser Cooperative Limited (IFFCO) called "IFFCO Nano DAP (liquid)" was launched by Union Minister Amit Shah, who is responsible for both the Ministry of Home Affairs and the Ministry of Cooperation, on April 26, 2023, in New Delhi.

The launch of IFFCO Nano DAP (Liquid) is a significant step towards achieving self-reliance in India's food production and fertilizers. This nano fertiliser product contains nitrogen and phosphorus, and it is expected to revolutionize the farming industry.

It is worth noting that on March 3, 2023, the Ministry of Agriculture & Farmers Welfare (MoA&FW) approved the launch of IFFCO's nano DAP fertilizer in the market, making it available to farmers across the country.

4. NITI Aayog Releases Report titled “ Promoting Millets in Diets: Best Practices across States/UTs of India ”

NITI Aayog, also known as National Institution for Transforming India, has released a report called “Promoting Millets in Diets: Best Practices Across States/UTs of India”. The report showcases innovative practices and good measures adopted by state governments and organizations to promote millets across the value chain.

- The report was unveiled by Suman K. Bery, Vice Chairman of NITI Aayog, in the presence of Member (Health) Dr. V.K. Paul, Member (Agriculture) Dr. Ramesh Chand, and B.V.R. Subrahmanyam, CEO of NITI Aayog.

- The report covers several themes, including state missions and initiatives to promote millets, the inclusion of millets in Integrated Child Development Scheme (ICDS), research and development, and the use of technology for innovative practices. It serves as a guiding repository to revive and mainstream millets in Indian diets.

- The report highlights that the area under cultivation of millets in India has been declining due to the promotion of rice and wheat and a lack of initiatives towards the production of millets. India produces nine traditional millets, including Sorghum, Pearl Millet, Finger Millet, Foxtail Millet, Proso Millet, Little Millet, Barnyard Millet, Brown top Millet, and Kodo Millet. Millets are secure crops for small farmers as they are resilient and adaptable to hot and drought environments.

5. DoSJE signed MoU with Art of Living to make NMBA more effective and widespread   

The Ministry of Social Justice & Empowerment's Department of Social Justice and Empowerment (DoSJE) signed a Memorandum of Understanding (MoU) on April 26, 2023 with Art of Living (AoL), a non-governmental organization (NGO) that is non-profit, volunteer-based, humanitarian and educational in nature. 

- The goal of the MoU is to spread the message of Nasha Mukt Bharat Abhiyaan (NMBA) among various groups such as youth, women, and students. The signing ceremony took place at Dr. B.R Ambedkar International Centre in New Delhi, Delhi, and was attended by Union Minister Dr. Virendra Kumar of MoSJE and Gurudev Sri Sri Ravi Shankar, the founder of Art of Living.

6. India signs new Work Plan 2023 on Quality Infrastructure with Germany during Indo-German Working Group meeting in Berlin

The Department of Consumer Affairs and the German Federal Ministry for Economic Affairs and Climate Action signed the Work Plan for 2023 on April 25, 2023, during the 9th Annual Meeting of the Indo-German Working Group on Quality Infrastructure (QI) in Berlin, Germany.

This year's Annual Meeting marked the 10th anniversary of the Working Group, and the agreement was signed by Nidhi Khare, Additional Secretary of the Department of Consumer Affairs, and Dr. Daniela Broenstrup, Director General of Digital and Innovation Policy at the Federal Ministry for Economic Affairs and Climate Action.

Key notes :

Both sides stressed the role of the Working Group in reducing technical barriers to trade and promoting innovation and consumer protection.

- The Working Group addressed key areas of economic cooperation and promoted systemic harmonization of QI at an international level.

- Stakeholders provided insights on current QI developments in Germany and India, including the Standards National Action Plan for India and German Standardisation Roadmaps for the Circular Economy and Industry 4.0.

- The Work Plan for 2023 covers key elements of QI and cross-cutting topics such as harmonized global solutions, digitalization, circular economy, smart farming, and machinery safety.

About Germany :

Capital : Berlin

Currency : Euro

President : Frank-Walter Steinmeiera

7. Swachh Bharat Mission of UP Receives HUDCO Awards 2022-23; J&K Bank Felicitated for PM Awas Yojana

A. HUDCO Awards 2022-2023

(i) On 25th April 2023, the HUDCO Awards of 2022-2023 were announced during a programme organised on the 53rd Foundation Day of Housing and Urban Development Corporation Limited (HUDCO) .

(ii) The Swachh Bharat Mission (Urban) Uttar Pradesh won the HUDCO Award for Best Practices to Improve the Living Environment 2022-23 category for Sanitation. The award was given for the campaign practice ‘ Swatchh Virasat ’ conducted from January 14 to 24. The award was presented to Neha Sharma, State Mission Director, Uttar Pradesh.

(iii) The campaign included 75 tourist and historical places of the state, where special cleanliness drives were conducted through activities like Nukkad Natak, puppet show, plog run, involving the general public in cleaning ghats, ponds, markets and other commercial areas.

(iv) As part of the award, an amount of Rs. 1 lakh was given to the UP government.

B. J&K Bank felicitated for ‘outstanding’ contribution

(i) Jammu and Kashmir (J&K) Bank was conferred with the HUDCO award for its outstanding contribution towards the housing sector of the country under the Pradhan Mantri Awas Yojana (Urban) – Credit Linked Subsidy Scheme (CLSS) through various innovative initiatives.

(ii) Narjay Gupta , the bank’s general manager, received the award from Manoj Joshi, secretary, Ministry of Housing and Urban Affairs, and Kuldip Narayan, HUDCO chairperson.

(iii) The award was presented on 25th April 2023 during the same function that marked the announcement of HUDCO Awards 2022-2023. The function was inaugurated by Hardeep Singh Puri, Union Minister of Housing & Urban Affairs and Petroleum & Natural Gas.

8. RINL wins Ministry of Steel's Ispat Rajbhasha Samman 2021-22

RINL (Rashtriya Ispat Nigam Limited) won the Ministry of Steel's "Ispat Rajbhasha Samman" First Prize for the year 2021-22 .

- The award was presented to the Chairman and Managing Director (CMD) Atul Bhatt, RINL by the Minister of State (MoS) Faggan Singh Kulaste, Ministry of Steel, during the meeting of Hindi Salahkar Samiti held in Srinagar, Jammu & Kashmir.

- Lalan Kumar, General Manager (Rajbhasha) and Admin Incharge, RINL-Visakhapatnam, Andhra Pradesh steel plant was also awarded First Prize for his special efforts in ensuring effective implementation of Hindi in the organisation.

- The MoS also released RINL's March issue of Hindi In-house Magazine "Rashtriya Ispat Sugandh".

9. India’s FIEO sign MoU with Business Russia to promote trade & FDI

FIEO and Business Russia signed an MoU to promote trade and FDI between India and Russia.

- The MoU was signed during the visit of a 50-member delegation from the agriculture and food processing sector in India, led by a Board Member of FIEO.

- The delegation visited Moscow and St. Petersburg in Russia.

- Exporters aim to increase agro and processed food exports from $750 million to over $3 billion in the next three years.

- FIEO aims to take exports to Russia to USD 5 billion in FY24.

- During April-February 2022-23, exports to Russia stood at USD 2.8 billion, while imports aggregated at USD 41.6 billion during the same period .

About Federation of Indian Export Organisations (FIEO) :

Director General & CEO : Ajay Sahai

Headquarter : New Delhi, Delhi

Establishment : 1965

10. Prince of Arcot Nawab Mohammad Abdul Ali receives IAA’s Meritorious Service Award 2023

The Indo-Australian Association (IAA) presented the Meritorious Service Award 2023 to his Excellency Nawab Mohammad Abdul Ali, the current titular Prince of Arcot, on April 24, 2023, at Amir Mahal in Chennai, Tamil Nadu . 

- The award was bestowed upon him by Sara Kirlew, the Australian Consul General to South India, and Dr. Susan Verghese, President of the Indo-Australian Association. Nawab Mohammad Abdul Ali was recognized for his long-standing efforts in promoting communal peace, harmony, and international relations between India and Australia.

11. Nasscom appoints Microsoft India President Anant Maheshwari as Chairperson

Anant Maheshwari, the President of Microsoft India, has been appointed as the Chairperson of The National Association of Software and Service Companies (NASSCOM) for the year 2023-24, effective from April 25, 2023. 

- He was previously the vice-chairperson of Nasscom and succeeds Krishnan Ramanujam, the President of Business and Technology Services at Tata Consultancy Services (TCS), who served as the Chairperson for 2022-23. 

- NASSCOM has also announced its new executive council for 2023-25, which includes a one-third representation of women leaders. The organization aims to double the technology industry in India to USD 500 billion by 2030 from the current valuation of USD 245 billion.

About The National Association of Software and Service Companies (NASSCOM) :

It is an Indian non-governmental trade association and advocacy group, focused mainly on the technology industry of India.

Chairperson : Anant Maheshwari

President : Debjani Ghosh

Founded : 1 March 1988

12. Sweden’s Research Rocket Accidentally Lands in Norway

On April 24th, 2023, TEXUS-58 , a microgravity research rocket launched by the Sweden Space Corp (SSC) from Esrange Space Center in northern Sweden , experienced a malfunction and landed in a mountain range approximately 15 kilometers inside Norway. 

- The rocket was a part of a research program initiated by the European Space Agency (ESA) for conducting experiments in zero gravity at an altitude of 250 kilometers (155.34 miles) above the Earth. The rocket landed at an altitude of 1,000 meters and was 10 kilometers away from the nearest settlement.

13. 2023 Hyundai Archery World Cup Stage 1 – Antalya: India finished 2nd with 4 medals

At the 2023 Hyundai Archery World Cup Stage 1, held in Antalya, Türkiye from 18th to 23rd April 2023, India secured 4 medals (2 gold, 1 silver, 1 bronze) and finished 2nd in the overall medal tally . 

- The United States of America (USA) topped the medal tally with 4 medals (2 gold and 2 silver). The tournament is a part of the 2023 Archery World Cup, officially known as the Hyundai Archery World Cup.

14. NASA Successfully Extracts Oxygen from Simulated Lunar Soil

The Johnson Space Center of NASA, located in Houston, Texas, USA, has achieved a breakthrough by extracting oxygen from simulated lunar soil, which refers to the powdery substance that covers the surface of the Moon.

15. SIPRI Report : Trends In World Military Expenditure, 2022

The Stockholm International Peace Research Institute (SIPRI) released its 'Trends In World Military Expenditure, 2022' Fact Sheet in April 2023, revealing that global military spending has increased for the eighth consecutive year, rising by 3.7% in real terms to reach a record high of US$2240 billion. 

- India was the fourth largest military spender in the world in 2022, with a military expenditure of US$81.4 billion. In 2022, total world military spending accounted for 2.2% of global gross domestic product (GDP). Over the decade spanning 2013-2022, global military spending grew by 19% and has increased every year since 2015.

Top 5 Countries with the Highest Military Expenditure in 2022 :

Banking and Finance News :

1. Hari Hara Mishra becomes CEO of the Association of ARC

Hari Hara Mishra has assumed the role of Chief Executive Officer (CEO) of the Association of Asset Reconstruction Companies (ARCs). The Association of ARCs is a non-profit organization and the representative body of all 28 ARCs registered with the Reserve Bank of India (RBI). The Indian ARC Association (IAA) serves as the voice of ARCs in India, and has been active for over eight years.

About Asset Reconstruction Companies (ARCs) : 

Asset Reconstruction Companies (ARCs) are specialized financial institutions that purchase Non-Performing Assets (NPAs) or bad loans from banks and other financial institutions to help them recover these NPAs. ARCs are registered with the Reserve Bank of India (RBI) and are regulated by the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act, 2002).

2. RBI granted NBFC licence to Neobanking Jupiter; Cancels Adoor Co-operative Urban Bank’s banking licence, allows to operate as NBFC

Jupiter, a neobanking platform, has received a non-banking financial company (NBFC) license from the Reserve Bank of India (RBI), allowing the company to expand its lending business. Previously, Jupiter had been lending in partnership with an NBFC using the Loan Service Providers (LSP) model. 

- The private entity Amica Financial Technologies, which operates Jupiter, will now offer loans ranging from Rs 50,000 to Rs 1 lakh under the new licence. This will give Jupiter better control over its lending business, allow direct integrations for Know Your Customer (KYC) checks, and make it easier to offer better services to customers and scale up operations. 

- In addition to its lending services, Jupiter offers a user-friendly platform for depositing and withdrawing funds, and has partnered with traditional banks to offer debit and credit cards.

3. RBI cancels Adoor Co-operative Urban Bank’s banking licence, allows to operate as NBFC

The RBI cancelled the banking licence of Adoor Co-operative Urban Bank Ltd, Adoor, Kerala, effective from the close of business on April 24, 2023, under Section 22 read with Section 56 of the Banking Regulation Act, 1949. 

- However, the bank is allowed to function as a non-banking institution under Section 36 A(2) read with Section 56 of the Banking Regulation Act, 1949. The cancellation prohibits the bank from conducting the business of "banking" within the meaning of Section 5(b) of the Act, including accepting deposits from non-members, with immediate effect. Adoor Co-operative Urban Bank Ltd must repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as a non-banking institution. The bank was initiated on January 3, 1987.

4. SBI General Insurance Launched Digital-only Health Insurance Plan – Health Edge Insurance

SBI General Insurance Company Limited launched a digital-only health insurance plan called ‘Health Edge Insurance’ in April 2023. 

Here are the key features of the plan :

- It is a single comprehensive plan with 9 basic indemnity covers and 18 optional covers to cater to medical exigencies.

- The policy offers multiple sum insured options ranging from 3 to 25 lakhs, and customers can choose long-term policy options for up to 3 years.

- The entry age for purchasing the Health Edge plan is 18 years to 65 years for adults and 91 days to 30 years for children.

- The policy is a fully digital product from SBI General, and the entire process from purchase to claims will be digital.

- The planned treatment under this cover shall be claimed on a reimbursement basis in Indian currency only.

- Customers can opt for a co-payment option, wherein 10% or 20% co-payment will be applied on every admissible claim wherever applicable under this Policy.

- No pre-policy medical checkup is required before issuance of Health Edge policy till 55 years of age.

- The plan includes covers such as the Global Treatment cover which takes care of the medical expenses incurred towards inpatient care outside India, and OPD (Out Patient Department) cover which guarantees the medical expenses incurred for allopathic OPD expenses including Diagnostics and Pharmacy.

5. Reliance General Becomes 1st Insurer to Accept eRupee in Partnership with Yes Bank

Reliance General Insurance, a subsidiary of Reliance Capital, became the first company to accept eRupee (e₹) or RBI's CBDC for premium payments .

Partnership :  Accepts eRupee through a partnership with Yes Bank 

Enables customers to make premium payments digitally using the bank's platform

Benefits :

- Provides customers with a safe, easy, instant, and green payment solution, enhancing the customer experience

- Eliminates the handling of physical cash

- Offers the same anonymity as a banknote

Current availability :

- Made the physical eRupee QR code available at select branches for walk-in customers to scan and pay instantly

- Customers with an active eRupee wallet with any bank can scan Reliance General Insurance's eRupee QR code to make an immediate payment

Future plans :

- Plans to make eRupee available at all branches nationwide, on its website, and on the Reliance Self-i app within a few months

CBDC or Digital Rupee :

- A digital version of currency notes issued by RBI

- Equal to the legal tender

News360 - 27th April , 2023 | Daily Current Affairs

National and International News :

1. PM Dedicated Various Projects Worth Rs 4850 cr in Dadra and Nagar Haveli

On April 25, 2023, PM Narendra Modi inaugurated and laid the foundation stone for various development projects worth more than Rs. 4850 crore in Silvassa in Dadra and Nagar Haveli .

- The development projects include projects related to health, housing, tourism, education, and urban development.

- PM inaugurated the new campus of NAMO Medical Education & Research Institute, the first and only medical college in the UT of Dadra and Nagar Haveli and Daman and Diu.

- The PM laid the foundation stone and dedicated 96 projects worth more than Rs. 4850 crores to the nation at Sayli ground, Silvassa.

Some of the projects include government schools, engineering college, and fish market and shopping complex in various parts of Dadra and Nagar Haveli and Daman and Diu.

- The projects also include beautification, strengthening and widening of various roads and augmentation of water supply scheme in Nani Daman.

Key initiatives :

(i) PM mentioned that an allocation of Rs. 5500 crores has been made for the physical and social infrastructure of the UT in the last few years.

(ii) He highlighted the initiatives undertaken in the UT, such as LED-lit streets, door-to-door waste collection, 100% waste processing, and the new Industrial Policy, which has increased industry and employment in the UT.

(iii) PM informed that a new 300-bed hospital is under construction, and permission has been granted for a new Ayurvedic hospital in the UT.

(iv) He also referred to the International Year of Millets and highlighted the UT's local millets like Nagali and Nachni.

(v) The PM noted that more than 1200 families have received their own houses under PM Awas Yojana in Daman, Diu, and Dadra and Nagar Haveli, and women are given an equal share in the houses. He handed over the house keys to beneficiaries of PMAY Urban from Diu and Silvassa.

(vi) PM mentioned the educational institutions that are opening campuses in Dadra and Nagar Haveli, such as NIFT, Gujarat National Law University, and IIIT Vadodara (Gujarat) in Diu.

2. India’s FIEO sign MoU with Business Russia to promote trade & FDI

India's Federation of Indian Export Organizations (FIEO) signed an MoU with Russian business chambers to promote bilateral trade and FDI between the two countries.

- The MoU was signed during the visit of a 50-member Indian delegation from the agriculture and food processing sector to Moscow and St. Petersburg, Russia.

- The delegation explored trade opportunities in diverse business ventures of Russia, including ready-to-eat meals, fish meal, animal feed, and soybean, to establish business tie-ups with Russian companies, including large departmental stores in the agro and food processed sector.

- Exporters are looking to increase agro and processed food exports from $750 million to over $3 billion in the next three years.

- FIEO aims to take exports to Russia to USD 5 billion in FY24.

- Exports to Russia stood at USD 2.8 billion during April-February 2022-23, while imports aggregated at USD 41.6 billion during the same period.

About Federation of Indian Export Organisations (FIEO) :

Director General & CEO : Ajay Sahai

Headquarter : New Delhi, Delhi

Establishment : 1965

3. PM Narendra Modi launches a Book 'Saurashtra-Tamil Sangamprashastih' 

PM Narendra Modi launched the book " Saurashtra-Tamil Sangamprashastih " (सौराष्ट्र-तमिलसङ्गमप्रशस्ति) (Saurashtra Tamil Sangam Praise) on April 26, 2023.

- The book has 113 verses and was prepared by Shree Somnath Sanskrit University, Gujarat.

- The book was launched via video conferencing during the closing ceremony of a 10-day Saurashtra Tamil Sangamam.

- The event was held from April 17-26, 2023 in Somnath, Gujarat.

4. 28 States/UTs adopts National Generic Document Registration System for Land Records

The National Generic Document Registration System (NGDRS) for Land Records has been adopted by 28 States and Union Territories.

- These States/UTs are either implementing eRegistration or sharing data with the national portal of NGDRS via User Interface /Application Programming Interface (API).

- The Unique Land Parcel Identification Number (ULPIN) (14- digit alpha-numeric unique ID)  or Bhu-Aadhar has been adopted by 26 States/UTs.

- Pilot testing of ULPIN has been done in 7 more States/UTs.

- Some states in the SVAMITVA portal also use ULPIN.

5. SRO completes PMD operation of GSAT-12 satellite

The Indian Space Research Organisation (ISRO) completed the post-mission disposal (PMD) operation of the communication satellite GSAT-12 on March 23, 2023. GSAT-12 was the 23rd GEO (Geosynchronous Earth Orbital) satellite to undergo PMD before decommissioning. 

- It carried 12 extended C band transponders and was launched on July 15, 2011. The satellite served for more than a decade and after the launch of its replacement satellite CMS-01 in 2020, it was relocated to 47.96° E longitude from its previous position at 83° E longitude, where it was stationed until March 2021.

6. Tennis legend Jaidip Mukerjea launches his Autobiography “Crosscourt”

Retired professional tennis player Jaidip Mukerjea launched his autobiography "Crosscourt" on April 21, 2023, at an event attended by well-known Indian tennis players such as Ramesh Krishnan and Somdev Devvaraman. 

- The book, which is co-authored by journalist-writer and translator Papri Sen Sri Raman , was published by Vitasta Publishing Private Limited.

7. Ratan Tata honoured with Order of Australia(AO), highest civil honour of Australia

Ratan Tata, the Indian industrialist, philanthropist, and Chairman Emeritus of Tata Sons, was awarded the Officer of the Order of Australia (AO) on April 22, 2023. This is Australia's highest civilian honour, which recognizes his efforts to strengthen the bilateral ties between India and Australia in the areas of trade, investment, and philanthropy.

- The announcement of his award was made by Mr. Barry O’ Farrell, the Australian Ambassador to India. Previously, in March 2023, Ratan Tata was appointed as an Honorary Officer in the General Division of the Order of Australia.

8. Government appoints Arun Sinha as Chairman of NTRO

Arun Kumar Sinha , a 1984 batch Indian Police Service (IPS) officer of Kerala cadre, has been appointed as the Chairman of the National Technical Research Organisation (NTRO) by the government. 

- He was an advisor in NTRO for two years and was serving as an Acting Chairman of NTRO before this appointment. Arun Sinha has been working as the chief of the Special Protection Group (SPG) since March 2016.

9. Winners of Goldman Environmental Prize - 2023 

The winners of the Goldman Environmental Prize 2023 were announced on April 24, 2023, at the War Memorial Opera House in San Francisco, USA.

- The prize was awarded to six individuals representing different continents : Alessandra Korap Munduruku from Brazil, Chilekwa Mumba from Zambia, Delima Silalahi from Indonesia, Diane Wilson from the USA, Tero Mustonen from Finland, and Zafer Kızılkaya from Turkey.

- This year marks the 34th anniversary of the prize, which recognizes grassroots environmental activists.

- The Goldman Environmental Prize is also known as the " Green Nobel Prize " .

- The ceremony was hosted by Rue Mapp, founder of Outdoor Afro, an organization dedicated to celebrating Black connections and leadership in nature.

Awards :

(i) Pollution & Waste - Diane Wilson from United States (North America)

(ii) Oceans & Coasts - Zafer Kizilkaya of Türkiye (Asia)

(iii) Environmental Justice -  Chilekwa Mumba from Zambia (Africa)

(iv) Forests - Delima Silalahi from Indonesia (Islands & Island Nations)

(v) Climate & Energy - Tero Mustonen from Finland (Europe)

(vi) Drilling & Mining -  Alessandra Korap Munduruku of Brazil (South & Central America)

Banking and Finance News :

1. Canara Bank & RBIH Collaborates to Launch ‘Digitalised Submission of Form 15G/15H’

Canara Bank and the Reserve Bank Innovation Hub (RBIH) have collaborated to launch a new customer-friendly service called 'Digitalised Submission of Form 15G/15H' to simplify the process of submitting self-declaration forms. 

- The forms, Form 15G and Form 15H, are submitted by individuals to request that their bank does not deduct TDS on interest income as their income is below the basic exemption limit. 

- The submission of PAN (Permanent Account Number) is necessary for the form submission. This service aims to make the process easier for customers.

2. Bajaj Allianz General Insurance, actyv.ai Partners to offer Insurance Product

actyv.ai , a Singapore-based licensed corporate agency under IRDAI (Insurance Regulatory and Development Authority of India), has partnered with Bajaj Allianz General Insurance to provide insurance products to MSMEs (Micro, Small & Medium Enterprises) and their business partners through their technology platform. 

- The collaboration will use the actyv.ai SaaS (Software as a service) platform with embedded B2B (Business to Business) BNPL (Buy Now, Pay Later) and insurance to offer affordable insurance products. 

- Bajaj Allianz General Insurance will use the technology stack of actyv.ai platform to provide innovative insurance products to promote the sustainability of suppliers, distributors, and retailers. Commercial insurance products like Fire and Burglary, as well as health products like Personal Accident, Hospital Cash, Credit Linked Health Plan, and Group Health Plans, will be offered.

3. Hindujas Gets In-Principal Approval from RBI to Raise Stake in IndusInd Bank

The promoters of IndusInd Bank, Hinduja Group, have received in-principle approval from the Reserve Bank of India (RBI) to increase their stake in the bank. 

- Currently, they hold a 16.5% stake, and the RBI raised the cap on the stake promoters can hold in a bank to 26% in 2021. 

- The due diligence process takes about 90-180 days as per RBI norms. IndusInd International Holdings Ltd, an entity belonging to Hinduja Group, has a 12.57% stake, while IndusInd Ltd has a 3.93% stake.

4. Monetary Authority of Singapore clears merger of HDFC Investments with HDFC

The central bank and financial regulatory authority of Singapore, the Monetary Authority of Singapore (MAS), has given its approval for the merger of HDFC Investments Limited and HDFC Holdings Limited with their parent company, Housing Development Finance Corporation (HDFC) Limited. 

- In addition, as part of the composite scheme of amalgamation, MAS has approved HDFC Bank's acquisition of a 20% or more stake in Griha Pte. Limited.

Other News :

1. Five-time Punjab CM Parkash Singh Badal passed away 

Parkash Singh Badal, the veteran Shiromani Akali Dal (SAD) leader and five-time Punjab Chief Minister (CM), passed away on April 25, 2023, at the age of 95 in Mohali, Punjab. He was born on December 8, 1927, in Abul Khurana, near Malout in Punjab.

Parkash Singh Badal : Brief Political Career Overview

(i) Parkash Singh Badal, a veteran Shiromani Akali Dal (SAD) leader, started his political career in 1947 and was elected to Punjab Vidhan Sabha in 1957.

(ii) He served as the Chief Minister of Punjab for five terms and holds the record for being the youngest CM at the age of 43 and the oldest CM at the age of 90.

(iii) He briefly served as the 11th Union Minister of Agriculture and Farmers' Welfare under the Morarji Desai-headed government in 1977.

(iv) He was the patron and president of the SAD political party from 1995 to 2008.

(v) Parkash Singh Badal contested 13 state assembly elections, won 11, and won ten polls back-to-back between 1969 and 2017.

(vi) He was awarded the Padma Vibhushan , India's second-highest civilian award, in 2015 (public affairs) and returned it in 2020 to support the Indian farmers' protest against the farm laws.

2. Pakistani-Canadian journalist Tarek Fatah Passes Away

Renowned Pakistani-born Canadian journalist Tarek Fatah passed away in Toronto, Ontario, Canada on April 24, 2023, at the age of 73. He was known for his criticisms of Islamic extremism and the Pakistani establishment and was a celebrated advocate of LGBT (Lesbian, gay, bisexual and transgender) rights. 

- Fatah started his career as a reporter in Karachi Sun media in 1970 and later became an investigative reporter for Pakistan Television. He fled to Saudi Arabia in 1977 after being charged with sedition by the Zia-ul-Haq administration and settled in Canada in 1987. Fatah authored two books, " Chasing a Mirage " and " The Jew is not my enemy " .

3. World Intellectual Property Day 2023 - 26th April

World Intellectual Property Day is celebrated on April 26 every year to acknowledge the significance of intellectual property rights including patents, trademarks, industrial designs, and copyright in fostering innovation and creativity worldwide. It also commemorates the formation of the World Intellectual Property Organization (WIPO).

- The theme for World Intellectual Property Day 2023 is “ Women and IP : Accelerating Innovation and Creativity ” , highlighting the critical role of women in driving innovation and creativity in various fields.

4. International Chernobyl Disaster Remembrance Day 2023 - 26th April

International Chernobyl Disaster Remembrance Day is observed on April 26 every year to commemorate the anniversary of the 1986 Chernobyl nuclear power plant disaster. The 2023 observance will mark the 37th anniversary of the incident. 

- The United Nations (UN) recognizes this day to promote awareness of the long-term consequences of the disaster.

 

News360 - 26th April , 2023 | Daily Current Affairs

 National and International News :

1. Union Minister Bhupender Yadav Launches New Features in Eshram Portal for Unorganised Workers

New features have been launched in the eShram Portal by Bhupender Yadav, the Union Minister for Labour & Employment and Environment, Forest and Climate Change, on April 24, 2023. These features aim to enhance the portal's usefulness and simplify registration for unorganized workers. Additionally, the new version includes a Data Sharing Portal (DSP) and a Data Analytics Portal.

The new features include :

(i) A feature to collect family details of migrant workers has been added to the portal. This feature will aid in providing child education and women-centric schemes to migrant workers who have migrated with their families.

(ii) A feature has been added to allow for the sharing of data of construction workers registering on eShram with the concerned Building and Other Construction Workers’ (BOCW) Welfare Board. This feature aims to ensure the registration of eShram construction workers with the appropriate BOCW board and provide access to relevant schemes.

The primary goal of these new features is to help eShram registered workers connect with employment opportunities, skilling, apprenticeship, pension schemes, digital skilling, and state-level schemes through the eShram portal.

Data Sharing Portal (DSP) :

The Union Minister Bhupender Yadav launched a Data Sharing Portal (DSP) that facilitates the sharing of eShram data with State and Union Territory (UT) Governments. This portal's purpose is to enable the sharing of eShram beneficiary data with the relevant states and UTs to implement targeted social security and welfare schemes for unorganized workers registered on eShram.

eShram Portal :

The eShram portal was launched by the Ministry of Labour & Employment on August 26, 2021, with the aim of creating a comprehensive National Database of Unorganized Workers seeded with Aadhaar. As of April 21, 2023, the eShram portal has recorded over 28.87 crore registrations by unorganized workers.

2. AAI & DGCA Signs Pact with European Agencies to Deepen Aviation Ties Between India & EU

(i) At the European Union (EU)-India Aviation Summit 2023 in New Delhi, Delhi from April 20 to April 21, 2023, the Airport Authority of India (AAI) and Directorate General of Civil Aviation (DGCA) signed agreements with European agencies to strengthen ties between India and the EU in the aviation sector.

AAI and Eurocontrol signed a declaration of intent to improve Air Traffic Management (ATM), while DGCA and the European Union Aviation Safety Agency (EASA) signed a letter of intent (LoI) for closer cooperation.

(ii) AAI and Eurocontrol signed a declaration of intent to establish a framework of cooperation to improve Air Traffic Management (ATM) for the benefit of aviation in Europe and India at the EU-India Aviation Summit 2023. The partnership aims to enhance the performance and long-range predictability of flights between their respective airspaces.

Through this partnership, AAI and Eurocontrol will work towards achieving optimal capacity, flexible flights, and interoperable systems and data, contributing to the overall improvement of aviation in both regions.

(iii) AAI and Eurocontrol signed a declaration of intent at the EU-India Aviation Summit 2023, which includes exchanging updated flight data for Air Traffic Flow Management (ATFM) and cooperation in ATM simulators and simulations for the advancement of technology and best practices.

(iv) DGCA and the European Union Aviation Safety Agency (EASA) signed a letter of intent (LoI) at the EU-India Aviation Summit 2023, focusing on technical cooperation and developing a common understanding of Unmanned Aircraft Systems and Innovative Air Mobility.

Key notes :

(i) The Indian government plans to have airports using 100% green energy by 2024 and achieve net zero emissions by 2030.

(ii) 25 AAI airports already use 100% green energy and the government aims to make another 121 airports carbon neutral by 2025, while promoting the use of Sustainable Aviation Fuel.

(iii) EU is a significant trading partner for India, with goods and services trade amounting to €88 billion and €36.5 billion, respectively, and about 2.3 million passengers traveling directly between the two regions annually.

(iv) Currently, India has open skies arrangements with only six of the 27 EU member states, making the EU-India aviation market strategically important.

3. Textile Minister Piyush Goyal dedicated Handloom & Handicraft Portal for Making Artisans & Weavers Self-Reliant

A new e-commerce portal, Indiahandmade, for the handicrafts and handloom industry was launched by Piyush Goyal, the Union Minister of Textiles, on April 24, 2023, in Gujarat. This platform will facilitate a direct connection between consumers and over 35 lakh handloom weavers and 27 lakh skilled handicraft artisans, cutting out intermediaries. Handloom is the manual weaving of fabric, while handicrafts are products crafted by skilled artisans using traditional methods. 

The objective of this portal is to promote self-reliance among artisans and weavers.

The new Indiahandmade e-commerce portal has several features, including :

(i) Fair remuneration for artisans and higher profits for sellers with 0% commission by eliminating intermediaries.

(ii) A diverse range of handmade products, including clothing, home decor, jewellery, and accessories made using eco-friendly and sustainable materials.

(iii) Easy registration and order fulfillment for authentic sellers such as artisans, weavers, producer companies, SHGs, and cooperative societies.

(iv) Free shipping with return options and multiple secure payment gateways for a hassle-free transaction experience.

4. PM Dedicated Various Projects Worth Rs 3200 cr; Inaugurates India's 1st Water Metro in Kochi & Kerala’s 1st Vande Bharat Express

Prime Minister Narendra Modi, inaugurated several development projects worth more than Rs 3200 crores on April 25, 2023, at Central Stadium in Thiruvananthapuram, Kerala. These projects include the country's first Water Metro in Kochi, Kerala, and the state's first Vande Bharat Express, which runs between Thiruvananthapuram and Kasargod.

Water Metro - Kochi :

The Kochi Water Metro is a unique project that connects 10 islands around Kochi with the city through battery-operated electric hybrid boats. Here are some key points about the project :

(i) The project is made in India and the ports were developed by the Kochi Shipyard.

(ii) Initially, the Water Metro will start sailing with 8 electric-hybrid boats in two routes: Highcourt-Vypin and Vyttila-Kakkanad stretches.

(iii) The purpose of the project is to provide modern and affordable means of transport to people living in the nearby islets of Kochi and to provide intermodal connectivity between the bus terminal and the metro network.

(iv) The project will ease traffic congestion in the city and benefit backwater tourism in the state.

(v) People can use the Kochi One Card for travelling on the Kochi Water Metro and can book mobile QR tickets through the Kochi One app.

Kerala's first Vande Bharat Express :

Kerala's first Vande Bharat Express, running between Thiruvananthapuram and Kasargod, will connect North Kerala with South Kerala and make travel to pilgrimage places like Kollam, Kottayam, Ernakulam, Thrissur, and Kannur easier. 

Here are some additional points to note :

(i) The Indian Prime Minister, Narendra Modi, announced that work has begun to prepare the Thiruvananthapuram-Shoranur section for semi-high speed trains. When completed, it will enable semi-high speed trains to run from Thiruvananthapuram to Mangaluru.

(ii) The Prime Minister also mentioned the gauge conversion, doubling, and electrification of railway tracks in Kerala over the last 9 years while discussing the developments in railways in the state.

(iii) The Prime Minister dedicated the Rail electrification of the Dindigul-Palani-Palakkad section during the event.

Digital Science Park :

(i) PM Narendra Modi laid the foundation stone of the Digital Science Park in Thiruvananthapuram, which will boost the Digital India initiative.

(ii) The project's total outlay is estimated at around Rs 1515 crore, with an initial investment of Rs 200 crore for Phase-1.

(iii) The project will offer state-of-the-art basic infrastructure to support high-end applied research by industries and co-development of products with universities.

(iv) The Digital Science Park is a third-generation science park that will include common facilities to support the development of products in Industry 4.0 technologies like Artificial Intelligence, Data Analytics, Cybersecurity, and Smart Materials.

Note : 

PM greeted the people of Kerala for Vishu :

Vishu is a cultural festival celebrating one of the two harvest seasons in Kerala of India. Vishu falls on the first day of the month of Medam in the Malayalam Calendar (April 14 or 15 in the Gregorian calendar).

5. Indian, Nepali Private Companies Sign Agreement for Direct Energy Sale

On April 19th, 2023, private companies from Nepal and India signed an agreement to buy and sell energy directly, marking a significant development in energy cooperation between the two countries. Previously, only government-owned entities were permitted to utilize this power.

The Nepal Power Exchange (NEPEX), established by the private sector to trade electricity abroad, signed the agreement with India's Steel Mint. Krishna Prasad Acharya, President of the Independent Power Producers' Association (IPPA) in Nepal, and Kshitij Pandey of SteelMint (BigMint Technologies Private Limited) were the signatories to the agreement.

Under this deal, private hydropower project developers from India can purchase up to 200 MW of electricity from Nepal. The agreement was signed during the 8th Power Summit 2023 in Kathmandu, Nepal, with the slogan "Broadening Green Energy Markets."

6. Md Sahabuddin sworn in as 22nd president of Bangladesh

Mohammed (Md) Sahabuddin, a former judge and freedom fighter, was inaugurated as the 22nd president of Bangladesh on April 24th, 2023, at Durbar Hall in Bangabhaban, Dhaka, Bangladesh.

The 73-year-old politician, an Awami League candidate, had been elected uncontested on February 13th, 2023. The previous president, Md Abdul Hamid, the longest-serving president of Bangladesh, retired after serving two consecutive terms of 10 years and 41 days. As per the Constitution of Bangladesh, he is not eligible to hold a third term.

7. SpaceX Starship, World’s Biggest Rocket, Explodes During 1st Flight Test

The most powerful and largest rocket ever constructed, SpaceX's Starship spacecraft, exploded during its inaugural flight on April 20th, 2023. The uncrewed Starship was launched from the SpaceX spaceport in Boca Chica, Texas, known as Starbase.

During the test, the separation of the first-stage rocket booster failed to occur, and the rocket experienced multiple engine failures, causing it to lose altitude. As a result, the flight termination system was commanded on both the booster and the ship. Destroying a wayward rocket is standard procedure to prevent harm to people or property below.

Despite the setback, NASA has selected Starship to transport astronauts to the moon for the first time since the conclusion of the Apollo program in 1972. This mission is expected to take place in late 2025.

Banking and Finance News :

1. HDFC Bank, Axis Bank Signs the Definitive Agreements with Go Digit Life Insurance

Two of India's biggest private sector banks, HDFC Bank and Axis Bank, have signed definitive agreements with Go Digit Life Insurance, an insurance technology startup, to acquire a 9.94% equity stake each in the company. The payment for each stake is Rs 69.90 crore, which will be made in two tranches. The agreement was signed on April 21, 2023.

The stake acquisition process involves two tranches of payment :

(i) HDFC Bank :   HDFC Bank has already made the first tranche of payment amounting to Rs. 10.93 crore for the acquisition of a 9.94% equity stake. According to the bank's definitive agreement, the remaining amount of Rs. 58.97 crore will be invested at its discretion in the second tranche, following the completion of the Initial Subscription.

(ii) Axis Bank :   Axis Bank has also made the first tranche payment of Rs. 10.93 crore towards the acquisition.

The transaction is expected to be completed within 3 to 6 months from the date of execution.

Go Digit Life Insurance : Founded by Kamesh Goyal and backed by the Fairfax Group, Digit is a general insurance company that offers a range of services such as car insurance, travel insurance, home insurance, commercial vehicle insurance, and shop insurance.

Go Digit General Insurance Limited was incorporated in the year of 2016 and the company is based in Bengaluru, India.

2. Capacity Utilisation robust but New Orders dip in Q3FY23: RBI’s 60th OBICUS

During Q3:2022-23, the Reserve Bank of India (RBI) conducted the 60th round of the quarterly Order Books, Inventories, and Capacity Utilization Survey (OBICUS), which covered 762 manufacturing companies. The survey aimed to provide a snapshot of the demand conditions in India's manufacturing sector during October-December 2022.

Important key notes :

(A) New Order Book :

(i) In Q3FY23, new order book of manufacturing companies declined to 8.4%, indicating a slowdown in demand.

(ii) Average new order amount decreased from Rs 307.9 crore in Q2FY23 to Rs 212.2 crore in Q3FY23.

(iii) Decline is due to difficult external environment with recession threat in many advanced economies and RBI's aggressive rate hikes.

(iv) Growth of new order books was negative between Q2FY20 and Q1FY21, but grew consecutively in the next three quarters until Q1FY22, registering a staggering 105% growth.

(B) Capacity Utilization :

(i) CU of manufacturing facilities was 74.3% in Q3FY23, up from 74% in Q2, indicating rapid manufacturing activity.

(ii) CU hit a low of 47.3% in Q1FY21, with most units cutting production. Pre-pandemic levels (Q1FY20) were 73.6%.

(C) Inventory Levels :

The average inventory level of manufacturing companies slightly increased by 2.3% to Rs 519.9 crore in Q3FY23 from Rs 508.2 crore in Q2FY23. The inventory levels were the highest during the pandemic in Q4FY20 at Rs 609.9 crore.

3. Reserve Bank of Zimbabwe to Launch Gold-Pegged Digital Currency

The government of Zimbabwe plans to launch a gold-backed digital currency through the Reserve Bank of Zimbabwe (RBZ) to stabilize the local currency and prevent further depreciation against the US dollar. 

The digital gold token will allow more Zimbabweans to hedge against currency volatility by exchanging small amounts of Zimbabwean dollars. 

Zimbabwe adopted the US dollar as its currency in 2009 due to hyperinflation and reintroduced the Zimbabwean dollar in 2019 to revive the struggling economy.

4. Shreekant M Bhandiwad takes charge as Chairman of Karnataka Vikas Grameena Bank (KVGB)

Shreekant M Bhandiwad has become the new Chairman of the Karnataka Vikas Grameena Bank (KVGB), a regional rural bank in India sponsored by Canara Bank, with its headquarters in Dharwad, Karnataka.

Prior to his appointment, Bhandiwad was the head of the Patna circle of Canara Bank in Bihar.

He has succeeded Puttaganti Gopikrishna, who served as the Chairman of KVGB from 2019 to 2023. Gopikrishna has been repatriated to Canara Bank as the Circle Head in Bengaluru, Karnataka.

About Shreekant M Bhandiwad :

- Postgraduate in agriculture

- Worked as an Agricultural Extension Officer in rural branches of Canara Bank

- Worked as a consultant in Agricultural Consultancy Services of Canara Bank at Head Office in Bengaluru

- Has 29 years of experience in Canara Bank, worked in states such as Haryana, Rajasthan, Bihar and Karnataka in various capacities

- Was Deputy Managing Director of Canfin Homes Ltd, Bengaluru for 3 years.

Other News :

1. UN English Language Day 2023 – 23rd April

UN English Language Day is observed on 23rd April every year to promote and celebrate the English language and its history, culture, and achievements.

This day coincides with the birth and death anniversary of William Shakespeare, the famous English playwright, poet, and actor.

In 2010, the UN Department of Global Communications initiated the observance of UN Language Days to promote and celebrate all six official languages of the UN, including English, Arabic, Chinese, French, Russian, and Spanish.

The UN Language Days are celebrated annually to recognize and appreciate the diversity of languages and cultures worldwide.

Language Days of UN :

(i) French – 20 March

(ii) Chinese – 20 April

(iii) English – 23 April

(iv) Spanish – 23 April

(v) Russian – 6 June

(vi) Arabic – 18 December

2. World Book and Copyright Day 2023 - 23rd April

World Book and Copyright Day is observed annually on April 23rd to celebrate books and reading and encourage a reading culture, especially among young people.

This day is led by UNESCO, the United Nations Educational, Scientific and Cultural Organization.

The theme for the 2023 observance is "Indigenous Languages," which focuses on the native languages of a particular country.

3. 14th National Panchayati Raj Day – 24th April 2023

National Panchayati Raj Day is celebrated every year on April 24 in India to recognize the decentralization of power to the grassroots through the institutionalization of Panchayati Raj. In 1993, the first Panchayati Raj system with constitutional status was established in India. This year, on April 24, 2023, the 14th National Panchayati Raj Day will be celebrated, commemorating 30 years of Panchayati Raj in India.

- The Ministry of Panchayati Raj and the Government of Madhya Pradesh have collaborated to organise a major event on the occasion of NPRD 2023. The event is part of the Azadi Ka Amrit Mahotsav (AKAM) and is called Samaaveshi Vikaas (Inclusive Development). 

The event was held at the Special Armed Forces Ground in Rewa, Madhya Pradesh. Prime Minister Narendra Modi attended the event as the Chief Guest. During the event, the PM launched the AKAM campaign for the theme "Inclusive Development" or "Samaaveshi Vikas."

- During the NPRD 2023 event, Prime Minister Narendra Modi inaugurated the integrated e-GramSwaraj (eGS) and Government eMarketplace (GeM) portal for public procurement at the Panchayat level. 

The eGramSwaraj–GeM Integration aims to enable Panchayats to procure goods and services through GeM, leveraging the eGramSwaraj platform. The integration is expected to encourage Panchayats to embrace the digital revolution and access an easy-to-use procurement and payment platform, thereby promoting rural economy and entrepreneurship while strengthening the Digital India Program.

Here are some key points about eGramSwaraj (eGS) :

(i) eGramSwaraj (eGS) was launched on April 24, 2020, to coincide with National Panchayati Raj Day.

(ii) Its purpose is to provide a single-window solution for all Panchayat functions, from planning to online payments.

(iii) As of now, eGramSwaraj has been adopted by almost 100% of Gram Panchayats and traditional local bodies in India, with more than 2.3 lakh using it for online payments.

(iv) To date, more than 1.35 lakh crore payments have been processed online through eGramSwaraj.

(v) GeM aims to increase its user base from 60,000 to over 3 lakhs in phases. Panchayats have demanded transparency in procurement, which the digital process aims to provide. The integration of eGramSwaraj and GeM also aims to encourage registration of local vendors like proprietors, self-help groups, and cooperatives on the platform.

SVAMITVA Scheme : 

(i) PM Modi distributed SVAMITVA Property Cards to select beneficiaries, marking the milestone of distributing 1.25 crore property cards under the SVAMITVA Scheme.

(ii) The SVAMITVA - Meri Sampatti, Mera Haq campaign aims to generate 1.50 crore Property Cards under the scheme by August 2023 as part of the AKAM - Samaaveshi Vikas theme.

(iii) The Property Card provides right of the property to rural household owners in the abadi areas.

(iv) The scheme covers various sections of society including SCs, STs, differently-abled, minorities, women and other vulnerable groups.

SVAMITVA scheme is a Central Sector Scheme launched by PM Modi on 24th April 2020, aimed at providing Records of Rights/ Property Cards to rural household owners of the inhabited area of the village.

(v) The scheme is under the Ministry of Panchayati Raj (MoPR).

4. International Day of Multilateralism and Diplomacy for Peace 2023 – 24th April

The UN observes the International Day of Multilateralism and Diplomacy for Peace on April 24th annually.

The day raises awareness about preserving multilateralism and global cooperation to maintain peace and achieve SDGs by 2030.

The day aims to tackle global issues like climate change, geopolitical tensions, and humanitarian crises.

It promotes the three pillars of the UN: peace and security, development, and human rights.

The UNGA adopted resolution A/RES/73/127 on December 12, 2018, proclaiming April 24th as the International Day of Multilateralism and Diplomacy for Peace.

The first observance of the day was on April 24th, 2019.

Multilateralism :

Multilateralism is the concept of multiple countries uniting towards a common goal, giving small powers a voice in global matters.

The UN is the most visible symbol of multilateralism and has given rise to other multilateralism efforts, such as WHO, the World Bank, WTO, and NATO.

5. World Malaria Day 2023 - 25th April

World Malaria Day is observed every year on April 25th to raise awareness about the importance of investing in and committing to the prevention and control of Malaria.

The day also aims to educate and increase understanding of Malaria as a preventable and curable disease.

World Malaria Day is led by the World Health Organization (WHO).

The theme for World Malaria Day 2023 is "Time to deliver zero malaria: invest, innovate, implement".

6. International Delegate’s Day 2023 - 25th April

The UN's International Delegate's Day is observed annually on April 25th worldwide to raise awareness about the crucial role of the representatives and delegates of Member States at the United Nations.

This day commemorates the opening day of the United Nations Conference on International Organisations in San Francisco on April 25th, 1945.

April 25th, 2023, marks the fourth observation of International Delegate's Day, which recognizes delegates' contribution to the UN's goals of promoting international peace and respect for human rights and fundamental freedoms.

The United Nations General Assembly (UNGA) proclaimed April 25th of every year as International Delegate's Day through resolution A/RES/73/286, adopted on April 2nd, 2019.

The first-ever International Delegate's Day was observed on April 25th, 2020.

News360 - 24th and 25th April , 2023 | Daily Current Affairs

 National and International News :

1. The Bharat Gaurav Tourist train on Ambedkar Circuit flagged off from New Delhi

On April 14, 2023, a special tourist train named Bharat Gaurav was launched on the occasion of the 132nd birth anniversary of social reformer Bhimrao Ramji (BR) Ambedkar.

The train will take passengers to various cities associated with Ambedkar across the country.

The Bharat Gaurav tourist train is being operated under the ‘Dekho Apna Desh’ initiative which aims to promote domestic tourism and the spirit of "Ek Bharat Shrestha Bharat".

The Indian Railway Catering and Tourism Corporation (IRCTC) is operating its first tour on the Ambedkar circuiton an 8 days special tour from HazratNizamuddin Railway Station, New Delhi, Delhi.

This 07 nights and 08 days Bharat Gaurav Tourist train will include a visit to prominent places associated with the life of the social reformer DR.BR Ambedkar such as New Delhi in Delhi, Mhow in Madhya Pradesh, and Nagpur in Maharashtra.

The tour will also cover sacred Buddhist sites like Sanchi (Madhya Pradesh), Sarnath (Uttar Pradesh), Gaya, Rajgir, and Nalanda (Bihar).

2. Telangana CM KCR unveils 125-ft-tall Ambedkar statue in Hyderabad

To commemorate the 132nd birth anniversary of Babasaheb Bhimrao Ramji (BR) Ambedkar, the architect of the Indian Constitution, Telangana Chief Minister K Chandrasekhar Rao unveiled a 125-ft tall bronze statue of him on April 14, 2023, on the banks of Hyderabad's famous Hussain Sagarlake. 

The towering statue, the tallest of Ambedkar in India, was built using 360 tonnes of stainless steel and 114 tonnes of bronze at a total cost of ₹146.50 crore. The statue was sculpted by the 98-year-old Padma Bhushan awardee Ram Vanji Sutar from Maharashtra's Mumbai. 

It sits on top of a 50-feet high pedestal with a ground floor of 172 feet and a terrace of 74 feet. As part of the tribute, the Telangana state government established an annual award worth ₹3 crore in honor of Babasaheb Dr. BR Ambedkar, which is presented to individuals who contribute to Dalit welfare on his birth anniversary. 

The unveiling ceremony was attended by over 35,000 people from all 119 constituencies, and Ambedkar's grandson, Prakash Ambedkar, was invited as the sole chief guest at the event. The state-run Road Transport Corporation operated as many as 750 buses for public transportation.

3. MoCA launched 5th round Regional Connectivity Scheme UDAN 5.0

Following four successful rounds of bidding, the Ministry of Civil Aviation (MoCA) is commencing the fifth phase of the Regional Connectivity Scheme (RCS) - Ude Desh Ka Aam Nagrik (UDAN) or UDAN 5.0. 

The aim of this program is to enhance the connectivity of regional territories in the country. The MoCA has released a bid document on April 21, 2023, inviting airlines to bid for various routes under this program. UDAN 5.0 will continue to drive progress by establishing new routes, operationalizing 1000 routes, and adding 50 extra airports, heliports, and water aerodromes towards improving connectivity in the country.

Additional notes :

(i) UDAN 5.0 focuses on Category-2 (20-80 seats) and Category-3 (>80 seats) and removes the previous constraint of a 600 km stage length. This means there are no distance restrictions between the origin and destination of the trip.

Viability gap funding (VGF) provided in Priority and Non-Priority areas is now capped at a 600 km stage length, which is an increase from the previous cap of 500 km.

(ii) The UDAN scheme is financed by a Rs 50 levy on flight tickets for major routes. This levy accounts for 80 percent of the viability gap funding airlines receive, with the remaining 20 percent provided by State governments. Airlines may receive viability gap funding for 50 percent of the seats on a flight, and fares for those seats are set by the government.

(iii) Airlines must submit an action/business plan after 2 months from the issuance of the Letter of Award (LoA). This plan includes their aircraft acquisition plan, availability of aircraft, crew, slots, and other required details listed in the Technical Proposal.

Airlines are prohibited from being awarded the same route more than once, whether it be in different networks or the same network.

(iv) If the average quarterly Passenger Load Factor (PLF) exceeds 75% for four consecutive quarters, exclusivity will be removed to prevent exploitation of the monopoly on a route.

Encashment of 25% of the Performance Guarantee will be done for each month of delay up to 4 months to provide more incentives for quick operationalization.

(v) Airlines must begin operations within 4 months of being awarded a route instead of the previous deadline of 6 months.

(vi) The inclusion of a list of operational airports or soon-to-be-operational airports in the scheme will aid in the quicker implementation of routes under the scheme.

The Novation process for transferring routes from one operator to another is made more straightforward and incentivized.

4. SAIL-BSL signs MoU with TCIL to utilize 5G/ IT / Telecom technologies in Steel manufacturing 

Telecommunications Consultants India Limited (TCIL) and Steel Authority of India Limited (SAIL)-Bokaro Steel Plant (BSL) signed a Memorandum of Understanding (MoU) on April 21, 2023, to explore the potential application of 5G/ Information Technology (IT)/ Telecom and other wireless communication technologies in SAIL-BSL. 

The partnership aims to set up a dedicated 5G network in SAIL-BSL and provide innovative solutions in SAIL Mines and Collieries in Jharkhand, as well as Smart Cities. By signing this MoU, SAIL BSL became the first PSU in India to take such an initiative. TCIL has the necessary expertise, experience, and resources to provide solutions for deployment, testing, commissioning, and maintenance of MoU relevant technologies for SAIL-BSL. 

The executive Director (Works) of SAIL-BSL, B.K.Tiwari, and the Executive Director (IT & Telecom) of TCIL, Ms Alka Selot Asthana, signed the MoU at SAIL’s Bokaro Steel Plant. SAIL BSL encompasses SAIL’s Mines & Collieries, Central Coal Supply Organization, and the SAIL Refractory Unit in Jharkhand.

5. PM Modi to release Rs 100 coin to Commemorate 100 episodes of Mann Ki Baat 

It was announced by the Ministry of Finance on 21st April 2023 that a new commemorative coin of Rs 100 denomination will be released by the Government on 30th April 2023, in celebration of the 100th episode of Prime Minister Narendra Modi’s radio show Mann Ki Baat. 

Here are some details about the coin : 

1. Shape: Circular

2. Diameter: 44 millimetres, along with 200 serrations

3. Weight: 35 grams

4. Metal and composition: Quaternary alloy composed of 50% silver, 40% copper, 5% nickel, and 5% zinc.

Design – Front Side :

The obverse side of the coin will feature the Lion Capital of Ashoka Pillar at the centre, with “Satyamev Jayate” inscribed below it. “Bharat” in Devanagari script and “INDIA” in English will be inscribed on the left and right peripherals, respectively. The coin will also display the Rupee symbol “₹” along with the “100” denomination.

Design – Backside :

The reverse side of the coin will display the logo for the 100th Episode of Mann Ki Baat. This will feature a microphone with sound waves and the year “2023” inscribed on it. “Mann Ki Baat 100” will be written above and below the image of the microphone, in both Devanagari and English scripts.

6. IGGL completes Asia’s largest underwater hydrocarbon pipeline

Mr. Ajit Kumar Thakur, CEO of Indradhanush Gas Grid Limited (IGGL), announced on 22nd April 2023 that the construction of Asia's largest underwater hydrocarbon pipeline has been completed. 

The 24-inch diameter pipeline has been laid below the Brahmaputra river using the Horizontal Directional Drilling (HDD) method, connecting Jorhat and Majuli in Assam. The single HDD crossing spans the main water channel of the Brahmaputra river with a total length of 4,080 metres, making it the longest river crossing by any hydrocarbon pipeline of 24-inch diameter or more in Asia and the second longest in the world. 

This achievement marks a major milestone in the construction of the North East Gas Grid (NEGG), which aims to connect North East India to the National Gas Grid. NEGG spans 1,656 kilometres and links major cities and demand centres in North East India to the National Gas Grid.

About Indradhanush Gas Grid Limited (IGGL) :

CEO : Ajit Kumar Thakur

Headquarters : Guwahati, Assam

Incorporated in 2018

7. Log9 Materials sets up India’s first Lithium-ion cell facility

India's inaugural lithium-ion cell manufacturing facility has been established by Log9 Materials, a nanotechnology company supported by Amara Raja Group, in Bengaluru, Karnataka. The commercial Li-ion cell production facility, with a starting capacity of 50 Megawatt hours (MWh), will engage in LTO (Lithium titanate) and LFP (lithium ferrophosphate) cell manufacturing. 

The facility's manufacturing line will produce large form factor cylindrical cells ranging from 22 Series to 66 Series. Log9's LTO TiB cells' production alone is expected to lead to 90T carbon emission reduction per vehicle, and a total CO2 reduction of 147 kT annually. Log9 will spend approximately Rs 200 crore to expand its current battery pack facility.

8. Morgan Stanley : India’s GDP to grow at 6.2% in FY24; Inflation to be 5.5% in FY24

As per Morgan Stanley's projections, India's gross domestic product (GDP) is set to grow at a rate of 6.2% in FY24. Driving this growth will be a cyclical rebound in consumption, increased private sector capex, and an acceleration in government spending.

Inflation in India is also expected to average around 5.5% during FY24, dropping below the 5% mark in Q2 of calendar year 2024. Currently, inflation for April 2023 is tracking at a YoY rate of 4.7%.

Experts predict that inflation will dip below 5% in Q1 of FY24 due to favourable base effects and moderating commodity prices. It is expected that the consumer price index (CPI) for March 2023 will meet projected expectations.

Regarding the Repo rate policy of the Reserve Bank of India (RBI), it is anticipated that there will be no changes in 2023, as inflation is expected to remain below the 6% threshold. Repo rate modifications may come in the Q1 of 2024.

9. ISRO launched 2 Singaporean Satellites under PSLV-C55/TeLEOS-2 Mission

PSLV-C55, launched by the Indian Space Research Organisation (ISRO) on April 22, 2023, carried two Singaporean satellites - TeLEOS-2 as the primary satellite and Lumelite-4 as the co-passenger satellite - as part of the PSLV-C55/TeLEOS-2 mission, from Satish Dhawan Space Center(SDSC)-Sriharikota Range(SHAR), Sriharikota, Andhra Pradesh. 

Both satellites were aimed to be launched into a low-inclination orbit towards the east. This launch was the 57th flight of the Polar Satellite Launch Vehicle(PSLV) and used the PSLV Core Alone configuration (PSLV-CA) for the 16th mission. 

Furthermore, the PSLV-C55 also carried the PSLV Orbital Experimental Module-2 (POEM-2). Under an agreement with the New Space India Limited (NSIL), ISRO's commercial arm, both satellites were launched.

10. Solar Industries bagged the contract to supply 400 Nagastra-1 drones to the Indian Army

Solar Industries India Limited, based in Nagpur (Maharashtra), has been awarded a contract on April 21, 2023, to provide 400 " Nagastra - I " Unmanned Aerial Vehicles (UAVs) to the Indian Army, surpassing competitors from Israel and Poland.

 " Nagastra-1 " , the first indigenous man-portable loitering munition (LM), is a fixed-wing electric UAV developed by Economics Explosives Ltd (EEL), a subsidiary of Solar Industries, in collaboration with Zmotion Autonomous Systems Private Limited in Bengaluru, Karnataka.

11. Star Sports Signs Indian Cricketer Rishabh Pant as brand ambassador

Star Sports India, a subsidiary of Walt Disney Company, has recently appointed Indian cricketer Rishabh Pant as its brand ambassador. 

Additionally, the company has enlisted the services of fellow Indian cricketers such as Hardik Pandya, Ravindra Jadeja, KL Rahul, and Shreyas Iyer as its Believe Ambassadors. From a mere 2 ambassadors in 2017, Star Sports has grown its roster to 6 ambassadors, including former Indian cricket team Captain Virat Kohli.

12. Justice Aparesh Kumar Singh sworn in as 8th CJ of Tripura HC

On 17th April 2023, Justice Aparesh Kumar Singh, Judge, High Court (HC) of Jharkhand has sworn in as the 8th Chief Justice(CJ) of the Tripura High Court.

Satyadeo Narain Arya, Governor of Tripura, administered the oath of office in a function at Raj Bhavan.

On 11th April 2023, the Department of Justice (Appointments Division), Ministry of Law and Justice issued the notification regarding the appointment of Justice Aparesh Kumar Singh as CJ of Tripura HC replacing Justice T. Amarnath Goud, senior most puisne Judge of the HC of Tripura, who was serving as the acting CJ of the HC of Tripura since 23rd February 2023.

The Supreme Court collegium, headed by Chief Justice D.Y. Chandrachud, recommended the name of Justice Singh for the post.

13. Oliver Dowden appointed as a new Deputy PM of UK after Dominic Raab’s resignation

On April 21, 2023, The British government named Oliver Dowden Deputy Prime Minister(PM), replacing Dominic Raab, who resigned following an inquiry into bullying allegations.

Prior to this appointment, Oliver Dowden had been serving in Rishi Sunak’s (PM of the United Kingdom) government as the Chancellor of the Duchy of Lancaster and Cabinet Office secretary.

Dominic Raab, who was serving as the Deputy Prime Minister, Justice Secretary and Lord Chancellor, resigned from the government of Rishi Sunak following the report from the inquiry conducted on bullying allegations.

About the United Kingdom :

Capital : London

Prime Minister : Rishi Sunak

Currency : Pound sterling (GBP – Great Britain Pound)

14. CCI approved the acquisition of Emerson Electric Co by BCP Emerald Aggregator LP

On 21st April 2023, The Competition Commission of India (CCI), has approved the acquisition of climate technologies’ business of Emerson Electric Co by BCP Emerald Aggregator LP under the green channel route. BCP Emerald Aggregator LP is an affiliate of Blackstone, an alternative asset manager based in the United States of America(USA).

15. " RAMBAAN " , Asia’s 1st Mobile Biosafety Level-3 Laboratory, Exhibited at G20 Summit, Goa 

" Rapid Action Mobile BSL-3 Advanced Augmented Network (RAMBAAN) " , India’s and Asia’s first mobile biosafety level-3 (BSL-3) laboratory, designed to investigate emerging viral infections was showcased at the G-20(Group of 20) Health Working Group meeting held in Goa.

" RAMBAAN " will play a major role in dealing with the COVID-19 pandemic. RAMBAAN, equipped with a -20 degree and -80-degree refrigerator, bio-safety cabinets, an automatic Ribonucleic acid (RNA) extractor, and a real-time PCR( polymerase chain reaction) machine, can access the remotest part of India.

16. DRDO & IN conducted Successful Trial of BMD Interceptor from Naval Platform 

On April 21, 2023, the Defence Research and Development Organisation (DRDO) and Indian Navy (IN) successfully conducted a maiden flight trial of sea-based endo-atmospheric Ballistic Missile Defence (BMD) interceptor off the coast of Odisha in the Bay of Bengal. This has enhanced India’s deterrence capabilities against aerial intrusion.

Objective :

To engage and neutralize a hostile ballistic missile threat.

Important :

The missile is capable of taking down incoming ballistic missiles from sea.

Prior to this, DRDO has successfully demonstrated land-based BMD systems with capability to neutralize ballistic missile threats, emerging from adversaries. With these developments, India has joined the elite club of Nations having Naval BMD capability.

Banking and Finance News :

1. HDFC Bank gets Relief from RBI on PSL norms ; SEBI Approves transfer of Controlling stake of HDFC AMC to HDFC Bank

In April 2023, the Reserve Bank of India (RBI) provided a relaxation of 3 years for HDFC Bank, India’s largest private sector lender, to meet Priority Sector Lending (PSL) requirements after its merger with Housing Development Finance Corporation (HDFC) Limited.

The RBI has refused to make any exceptions on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) requirements as sought by HDFC Bank.

The RBI has allowed HDFC Bank to consider a third of the outstanding HDFC loans in the first year of the merger. The remaining two-thirds of the portfolio of HDFC will be considered over the next two years equally. HDFC Bank has to set aside 4.5% of HDFC’s assets as CRR and 18% as SLR after the merger.

CRR is the percentage of deposits which the HDFC Bank has to park with the central bank for which it does not earn any interest, while SLR is a percentage of deposits which are mandated to be invested in government securities.

HDFC bank carries around 24-25% investments in government securities as against the 18% requirement.

At present, HDFC has a 48% stake in HDFC Life Insurance and 50% in HDFC Ergo, and 52.6% stake in HDFC MF.

2. SEBI Approves transfer of Controlling stake of HDFC AMC to HDFC Bank

On 21st April , 2023, the Securities and Exchange Board of India (SEBI) approved the proposed change in ownership of HDFC Asset Management Company Limited (HDFC AMC), a subsidiary of HDFC Limited and the AMC of HDFC Mutual Fund (HDFC MF), to HDFC Bank as part of merging.

SEBI instructed the HDFC AMC to ensure compliance with all other provisions of SEBI(Mutual Funds) Regulations, 1996 and circulars.

Note : This approval will enable the merger of HDFC Ltd into HDFC Bank. 

3. Mastercard collaborates with India’s M1xchange to roll out digital invoice discounting for farmers

 

On April 20 ,  2023, Mastercard has collaborated with M1xchange to offer a digital invoice discounting solution to farmers, Farmer Producer Organizations (FPOs), and agri-MSMEs (Micro, Small & Medium Enterprises) through " Farm Pass ", its agri-tech platform.

This solution is the first of its kind for the agriculture sector and will help lenders in underwriting credit offerings through the Trade Receivables Discounting System (TReDS).

As part of the collaboration, M1xchange, an RBI (Reserve Bank of India)-approved facilitator for discounting and sale of receivables to banks and Non-Banking Financial Companies (NBFCs), will bring on board its agri-businesses and lenders. The platform will enable easy access to credit and working capital.

The solution will allow farmers and FPOs to directly connect with buyers, negotiate the best price for their produce with instant payment.

and this aims to benefit 10 million farmers through an auction based mechanism for selecting the best interest rates against the trade.

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

On April 11, 2023, the ICICI Bank introduced an easy first-of-its-kind EMI (Equated Monthly Instalment) facility for UPI (Unified Payment Interface) payments made by scanning QR code.

Objective : To improve convenience of the customers and to provide unique solutions to address their evolving credit needs.

Key note : 

Customers who are eligible for PayLater, the Bank’s ‘buy now, pay later’ service can avail of the EMI facility in an instant, easy and seamless manner. The facility can be availed across different categories such as electronics, groceries, fashion apparels, travel and hotel bookings. 

Other News :

1. Former MP Trilochan Kanungo passes away at 83 in Bhubaneswar 

Veteran politician and former Member of Parliament(MP) – Lok Sabha Trilochan Kanungo, a member of Biju Janata Dal (BJD), passed away at the age of 83 in Bhubaneswar, Odisha. He was born on 24th November 1940 at Badamulei village under Kantapada block in Cuttack district, Odisha.

About Trilochan Kanungo :

(i) He was elected to the Odisha Assembly as a Member of the Legislative Assembly(MLA) in 1971, 1974 and 1985.

(ii) In 1999, he was elected to the Lok Sabha (MP) from the Jagatsinghpur constituency on BJD ticket.

(iii) He has also served as the Chairman of Cuttack municipality from 1979-80 and 1992-1995.

(iv) He was also chairman of the second Odisha Finance Commission. 

2. International Mother Earth Day 2023 – 22nd April 

The United Nations(UN)’s International Mother Earth Day, also known as “Earth Day” is annually observed across the globe on 22nd April to create awareness about humanity’s relationship with the natural world. The day highlights the importance of the health of Mother Earth and its effects on Humanity’s health.

22nd April 2023 marks the 53rd anniversary of the Earth Day. The theme of Earth Day 2023 is “ Invest in our Planet " .