News360 - 4th and 5th May , 2023 | Daily Current Affairs

 National and International News :

1. Union Minister Parshottam Rupala launches VCI portal

At the World Veterinary Day 2023 celebration held at Vigyan Bhawan, New Delhi, Union Minister Parshottam Rupala of the Ministry of Fisheries, Animal Husbandry and Dairying unveiled a Veterinary Council of India (VCI) portal. 

- Additionally, he presented the draft Minimum Standards of Veterinary Practices Regulation (MSVPR) 2023 and a list of exceptional veterinarians. The event aimed to acknowledge and honor the significant contributions of veterinarians to animal, human health, and the environment. The celebration took place on April 29, 2023.

2. CCI approves Acquisition of Shareholding of Tower Vision by Ascend Telecom Infrastructure Private Limited and GIP EM 

Ascend Telecom Infrastructure Private Limited and GIP EM Ascend 2 Pte. Ltd (GIP EM) have been granted approval by the Competition Commission of India (CCI) to acquire the shareholding of Tower Vision India Private Limited (Tower Vision). The Proposed Combination falls under Section 6(2) read with Section 5 of the Competition Act, 2002 (as amended).

- The acquisition involves Ascend and GIP EM acquiring 100% of the issued and fully paid-up ordinary equity shares of Tower Vision. Ascend specializes in providing passive telecommunication infrastructure services through towers in India, while GIP EM is currently not engaged in any business operations. Both Ascend and GIP EM are owned by funds/investment vehicles managed by entities that are ultimately controlled by Global Infrastructure Management LLC (GIM LLC).

- Tower Vision, established in 2006, offers passive telecommunication infrastructure services through towers in India and is registered as an Infrastructure Provider Category –I (IP-I) with the Department of Telecommunications (DoT), the Ministry of Communications, Government of India.

3. Ministry of Housing & Urban Affairs signs MoU with RITES as Technical Support Agency for Swachhata

The Ministry of Housing and Urban Affairs (MoHUA) and RITES Limited signed a Memorandum of Understanding (MoU) on May 2, 2023, to provide technical assistance for Solid Waste Management (SWM) & UWM under Swachh Bharat Mission-Urban (SBM-U) 2.0. The Technical Support Unit (TSU) of RITES will assist SBM-U for a period of 3 years, with a specific focus on accelerating Solid Waste and Used Water Management (UWM).

- RITES will offer technical support to SBM-U for standards & specifications related to sewage and faecal sludge management and reuse, as well as engineering design and process of waste water treatment units under UWM. The MoU aims to enhance the efficiency and effectiveness of SWM and UWM operations in the country.

4. India, UK Signed Agreement to Collaborate on Science and Innovation

A new agreement on science and innovation was signed by India and the UK on April 26, 2023, to foster deeper and faster collaboration on research and development that will benefit both countries and the world . The agreement aims to address some of the most pressing global challenges, such as climate change, pandemic preparedness, AI and machine learning.

- As part of the agreement, India will partner with the UK's initial £119 million International Science Partnerships Fund, building on the existing UK-India science partnership through the Newton-Bhabha fund. The agreement will also facilitate new joint research programmes in various fields, such as industrial decarbonisation, farmed animal disease and health, solid earth hazards, fisheries, and sustainable biofuels  .

- The agreement was signed at the UK-India Science Innovation Council meeting in Parliament, attended by UK Science Minister George Freeman and Indian Minister of State for Science and Technology Dr Jitendra Singh . Both ministers praised the potential of the agreement to enhance the scientific capabilities and economic opportunities of both countries .

5. India-UK ‘Net Zero’ Innovation Virtual Centre 

The India-UK Science & Innovation Council meeting was chaired by Jitendra Singh and co-chaired by George Freeman, the UK Science Minister. During the meeting, Singh declared the formation of the India-UK ‘Net Zero’ Innovation Virtual Centre, which will prioritize industrial decarbonisation. Additionally, he announced the launch of the inaugural India-UK scientific deep sea voyage.

- The Innovation Virtual Centre will foster collaboration between stakeholders from India and the UK, focusing on crucial areas such as decarbonization of manufacturing processes and transportation systems, as well as exploring green hydrogen as a renewable energy source. The goal is to work towards achieving a net-zero carbon future.

6. AIME-23 : 1st ASEAN-India Maritime exercise initiated in Singapore

The first edition of the ASEAN-India Maritime Exercise (AIME-23) kicked off on May 2, 2023 at the Changi Naval Base in Singapore. The opening ceremony was jointly presided over by Admiral Radhakrishnan Hari Kumar, Chief of the Naval Staff (CNS), Indian Navy (IN) and Rear Admiral Sean Wat, Chief of Navy (CNV), Republic of Singapore Navy (RSN) and attended by senior officials from ASEAN .

- The exercise aims to enhance maritime cooperation and foster mutual trust and confidence among the ASEAN and Indian navies . It involves joint drills in the South China Sea between the navies of Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam (ASEAN Nations), and IN .

- The IN is represented by RAdm Gurcharan Singh, the Flag Officer Commanding Eastern Fleet (FOCEF) along with two indigenously-built warships INS Delhi and INS Satpura, and P8I maritime patrol aircraft . INS Delhi is India's first guided missile destroyer and INS Satpura is a guided missile stealth frigate. Both ships are part of IN's Eastern Fleet based at Visakhapatnam (Andhra Pradesh) .

- The exercise is divided into two phases : 'Harbour Phase' and 'Sea Phase.' The Harbour Phase will be held at Changi Naval Base from May 2 to May 4, 2023 and the Sea Phase will be conducted from May 7 to May 8, 2023 in the South China Sea .

7. NITI Aayog Released ‘Best Practices in Social Sector: A Compendium, 2023’ in Collaboration with UNDP

To commemorate 75 years of India's independence, the NITI Aayog and the United Nations Development Programme (UNDP) jointly released the 'Best Practices in Social Sector: A Compendium, 2023' on May 1, 2023. The compendium comprises 75 case studies sourced from over 30 Ministries and Departments of the Government of India, 28 states and 8 Union Territories (UTs) and highlights the theme 'Achievement@75' at the local levels. 

- Suman Bery, Vice Chairman of NITI Aayog, launched the compendium in the presence of other members and the CEO of NITI Aayog, and the Resident Representative of UNDP India. The compendium is a collection of innovative policymaking practices in 14 key social sectors, such as health, education, agriculture, and the environment. These 75 best practices are innovative, sustainable, replicable, and impactful, and aim to synthesize lessons for the future to improve life at the grassroots level. The compendium was prepared under the guidance of Suman Bery and the leadership of Dr. Yogesh Suri, Senior Adviser at NITI Aayog.

8. India’s CSIR & Israel’s DDR&D sign MoU on Industrial Research and Development Cooperation

A Multi-Sectoral MoU on Industrial Research and Development Cooperation was signed between India's Council of Scientific and Industrial Research (CSIR) and Israel's Directorate of Defense Research and Development (DDR&D) on May 2, 2023. The MoU aims to foster collaboration in various high-tech fields such as aerospace, healthcare, and startups  .

- This MoU follows a Bilateral Innovation Agreement (BIA) signed by DRDO and DDR&D in November 2021 to support innovation and R&D in the startup ecosystems and MSMEs of both countries for the development of dual-use technologies.

- The MoU marks a new phase in India-Israel partnership in areas like Innovation, Technology, and StartUps. The year 2023 also commemorates 30 years of diplomatic relations between India and Israel.

9. Phintella dhritiae & Phintella platnicki : ZSI team discovered 2 New Spider Species in Karnataka & TN

Two new species of salticids, or jumping spiders, have been described from southern India by researchers from the Zoological Survey of India (ZSI). The new species belong to the genus Phintella and are named Phintella dhritiae and Phintella platnicki. Phintella dhritiae was discovered in Mookambika Wildlife Sanctuary in Karnataka and is named after Dr Dhriti Banerjee, the first woman Director of the ZSI. 

- Phintella platnicki was found in Salem district of Tamil Nadu and is named after the late Dr Norman Platnick, a renowned arachnologist. Jumping spiders are the largest family of spiders with over 6,000 species and have excellent vision and agility. They use their eyes and legs to communicate, hunt and mate.

Notes :

(i) Team - Souvik Sen and Sudhin P P from ZSI in Kolkata, West Bengal; and John T D Caleb from Chennai, TN.

(ii) Arachnology - The scientific study of arachnids, which comprise spiders and related invertebrates such as scorpions and pseudoscorpions.

10. ICAI & ICAEW Renews their MoU

The Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants in England and Wales (ICAEW), two premier globally renowned accounting bodies, have renewed their Memorandum of Understanding (MoU). The renewed MoU will create opportunities for "appropriately qualified" members of both institutes.

- The MoU was signed in London, United Kingdom, on April 24, 2023, and will be reviewed after 3 years. ICAI has over 3.8 lakh members, whereas ICAEW has over 2 lakhs.

- Aniket Sunil Talati, President of ICAI, and Julia Penny, President of ICAEW, signed the MoU in the presence of Ranjeet Kumar Agarwal, Vice President of ICAI, along with other Council Members of ICAI and senior functionaries of ICAEW.

- The first MoU between the two institutions, which established the relationship between ICAI and ICAEW, was signed in 2008.

11. Amitabh Kant Authored a New Book Titled “ Made In India: 75 Years of Business and Enterprise ”

Amitabh Kant, a retired Indian Administrative Service (IAS) officer who served as CEO of the National Institution for Transforming India (NITI Aayog) from 2016 to 2022, has authored a new book titled "Made In India: 75 Years of Business and Enterprise." The book was published by Rupa Publications India on March 5, 2023, to coincide with India's achievement of becoming the world's fifth-largest economy after 75 years of independence, surpassing its former colonial master, the United Kingdom (UK). 

- Kant has also authored other books such as "Branding India: An Incredible Story" and "Incredible India 2.0" and served as editor of "The Path Ahead: Transformative Ideas for India." Additionally, he has written over 500 articles published in leading Indian newspapers.

12. Socialist Pandit Ramkishan conferred with the Title ‘ Man of the Century ’

Pandit Ramkishan, a former Member of Parliament (MP) of Lok Sabha, was honoured with the title of "Man of the Century" (Shatabdi Purush) on April 30, 2023, during an event in New Delhi, Delhi, organised to celebrate the birth centenary of Madhu Limaye, a socialist ideologue and veteran parliamentarian.

- Pandit Ramkishan, a socialist leader, had actively participated in movements led by socialist leaders Jayaprakash Narayan and Lohia, and had been imprisoned several times while fighting for the rights of tribals, Dalits, and the poor.

- He was elected to the Lok Sabha once in 1977 and four times to the Rajasthan Assembly in 1962, 1967, 1974, and 1990.

13. IMF Regional Economic Outlook : Asia-Pacific to grow 4.6% in 2023 ; India, China to contribute half of global growth

The IMF's latest report on Asia and Pacific, released in May 2023, shows that the region's growth will accelerate to 4.6% in 2023, up from 3.8% in 2022. This is 0.3% higher than the previous forecast made in October 2022. The region will account for more than 70% of global growth in 2023.

- The main drivers of Asia's growth are China and India, which will contribute about half of global growth in 2023. The rest of Asia will also recover in 2023, in line with other regions.

- However, the outlook is not without risks and challenges. The IMF warns that inflation may remain high, global demand may slow down, and banking-sector stress in the US and Europe may spill over to the region. The IMF also lowers its growth forecast for 2024 to 4.4%, and urges central banks in Asia (except Japan and China) to tighten monetary policy to contain inflation.

- India's growth will moderate slightly from 6.8% in 2022 to 5.9% in 2023, as weaker domestic demand offsets stronger external services demand.

Summary :

- Asia and Pacific's growth will increase to 4.6% in 2023, up from 3.8% in 2022.

- China and India will lead the region's growth, contributing about half of global growth in 2023.

- The IMF warns of risks such as high inflation, slowing global demand, and banking-sector stress.

- The IMF lowers its growth forecast for 2024 to 4.4%, and advises central banks in Asia (except Japan and China) to tighten monetary policy.

- India's growth will moderate slightly from 6.8% in 2022 to 5.9% in 2023.

14. SC modifies order on eco-sensitive zone around national parks, sanctuaries

The Supreme Court modified its order of maintaining eco-sensitive zones around national parks or wildlife sanctuaries. Supreme Court modified its June 2022 order of maintaining a 1 km eco-sensitive zone (ESZ) around national parks or wildlife sanctuaries.

- Supreme Court in its modified order removed a complete ban on development and construction activities within ESZs. The order has been issued by a bench of Justices B R Gavai, Vikram Nath and Sanjay Karol.

Note :

Eco-sensitive zone :

Eco-sensitive zones are areas notified by the MoEFCC around Protected Areas, National Parks and Wildlife Sanctuaries. The purpose of declaring ESZs is to create some kind of “shock absorbers” to the protected areas by regulating and managing the activities around such areas.

** The activities which are allowed and prohibited in ESZs are -

1. Prohibited Activities -

Commercial mining , sawmills , industries causing pollution , major hydroelectric projects , commercial use of wood

2. Allowed Activities -

Agricultural or horticultural practices , rainwater harvesting , organic farming , use of renewable energy sources , adoption of green technology

Banking and Finance News :

1. BharatPe acquires 51% stake in Trillion Loans

BharatPe, a fintech firm in the payment sector, has purchased a 51% stake in Trillionloans Fintech Private Limited, a Mumbai-based NBFC. Trillion Loans offers secured and unsecured loans to small businesses and credit products to retail customers, such as auto, gold, and education loans. 

- Trillion Loans will continue to operate as an independent entity with its own team, overseen by the board, following the acquisition. BharatPe will leverage its product and technology expertise to help Trillion Loans create new digital lending products that serve a diverse group of business owners and clients.

2. Ajay Banga becomes first Indian-American to be appointed as 14th World Bank President

Ajay Banga, aged 63, was appointed as the 14th President of the World Bank (WB) on May 3, 2023. The 25-member Executive Directors of the WB elected him for a term of five years, which will begin on June 2, 2023. Upon taking office, he will succeed David Malpass. 

With this appointment, Banga will become the first Indian-born nominee to hold the position and the first Indian-American to lead WB. He is also the first Sikh-American and Indian-American to head either of the two top international financial institutions, namely the International Monetary Fund (IMF) and the World Bank.

- About Ajay Banga :

Ajay Banga is an awardee of Padma Shri (2016) and an alumni of IIM Ahmedabad. Prior to his appointment as the President of the World Bank, he was the Vice Chairman at General Atlantic and President and CEO of Mastercard. He previously served on the Boards of the American Red Cross, Kraft Foods and Dow Inc. 

He is a member of the Trilateral Commission, a founding trustee of the US-India Strategic Partnership Forum, and Chairman Emeritus of the American India Foundation. Additionally, he co-founded The Cyber Readiness Institute and served as a member of President Barack Obama’s Commission on Enhancing National Cybersecurity. 

He has been awarded several accolades including the Foreign Policy Association Medal in 2012, the Ellis Island Medal of Honour, the Business Council for International Understanding’s Global Leadership Award in 2019, and the Distinguished Friends of Singapore Public Service Star in 2021.

3. Bharti Airtel & Dialog Axiata signs Binding Term Sheet for the Merger of their Sri Lankan Subsidiaries

Dialog Axiata PLC, the largest telecom service provider in Sri Lanka, and Bharti Airtel Limited, an Indian telecom giant, have agreed to merge their Sri Lankan subsidiaries into a single entity. The merger will involve Bharti Airtel Lanka (Private) Limited, a wholly-owned subsidiary of Bharti Airtel, and Dialog, a subsidiary of Malaysian telecom conglomerate Axiata Group Berhad. The merger will create the nation's largest telecom operator  .

- According to the binding term sheet signed by the parties, Bharti Airtel will receive a stake in Dialog that reflects the fair market value of Bharti Airtel Lanka . New shares of Dialog will be issued to Bharti Airtel upon the completion of the transaction .

- The proposed transaction is still under discussion between the parties and with the relevant regulatory authorities as per applicable laws and regulations. The transaction is also subject to the signing of legal agreements and necessary closing conditions including shareholder approvals and required regulatory clearances .

4. Pine Labs Partners ICICI Bank to Accept Digital Rupee on its PoS Terminals

Pine Labs India, a merchant commerce platform, has partnered with ICICI Bank to accept digital Rupee (e-Rupee or CBDC) on its point-of-sale (PoS) terminals at retail outlets in Mumbai and Bengaluru. The process for e-Rupee payments via Pine Labs' smart Android PoS terminals is entirely digital, utilizing a dynamic QR code. 

- This integration provides a hassle-free payment option for users and improves merchants' operational efficiency. By accepting e-Rupee payments, Pine Labs is contributing to the transition from paper-based currency to digital, and has joined hands with ICICI Bank to launch e-Rupee as a payment option under the Reserve Bank of India's pilot program.

5. Airtel Payments Bank Partners with NPCI to Roll out Face Authentication for AePS

Airtel Payments Bank has partnered with the National Payments Corporation of India (NPCI) to introduce Face Authentication for AePS (Aadhaar-enabled Payment System) across its 500,000 banking points to promote financial and digital inclusion.

- This initiative makes Airtel Payments Bank one of the first four banks in India to provide face authentication for AePS.

- Airtel Payments Bank introduced the face authentication service in different stages. The first phase involved non-financial transactions, such as balance inquiry and mini-statements.

- Airtel Payments Bank was expected to make the face authentication service available for financial transactions in a few weeks.

- The service is currently available only to Airtel Payments Bank customers who have enabled face authentication.

6. FPIs pulled out Rs 29,921cr from Banking and Financial Services sector in FY23

In FY23, Foreign Portfolio Investors (FPIs) withdrew Rs. 29,921 crore from the Banking and Financial Services sector, resulting in a marginal decrease in their holdings in several private sector banks. The Banking and Financial Services sector was the third-highest loser of FPI money, after IT Services (Rs. 51,138 crore) and Oil & Gas (Rs. 37,674 crore). FPIs decreased their stake in RBL Bank by 4% to 25% as of the March 2023 quarter, and in IndusInd Bank, FPIs trimmed their exposure by 4% to 42.16% during this period. 

- HDFC Bank's FPI stake went down by 3%, while their stake in Bandhan Bank and Kotak Mahindra Bank were reduced by 2% and 1%, respectively. FPI shareholding in ICICI Bank remained unchanged at 44% in FY23. On the other hand, FPIs increased their stakes in Yes Bank (by 12%), IDFC First Bank (6%), and Axis Bank (2%) during this period. Notably, FPIs' holding in Yes Bank rose to 23.1% as of March 2023 from 10.97% in March 2022, following Carlyle and Advent picking up a 9.99% stake in Yes Bank for about Rs. 8,896 crore during the December 2022 quarter of FY23.

7. IFSCA inks MoU with IHub-Data, IIIT Hyderabad to support FinTech

The International Financial Services Centers Authority (IFSCA) and IHub-Data, IIIT (International Institute of Information Technology)-Hyderabad have signed a Memorandum of Understanding (MoU) at IIIT- Hyderabad campus in Hyderabad (Telangana) to collaborate on various initiatives regarding FinTech.

- Under this agreement, FinTechs and TechFins registered with IHub-Data, IIIT-Hyderabad will have facilitated access to IFSCA's Regulatory and Innovation Sandbox and can apply to the IFSCA (FinTech Incentive) Scheme, 2022.

Key points to note -

(i) IFSCA is responsible for the development and regulation of international financial services, including the insurance sector.

(ii) IHub-Data is a Technology Innovation Hub for Data Banks, Data Services, and Data Analytics at IIIT Hyderabad, established by IIIT Hyderabad under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS) scheme, funded by the Department of Science and Technology (DST), Ministry of Science and Technology (MoST). 

- Its objective is to bring together different stakeholders in the research community, academics, government officials, industry leaders, incubating start-ups, and social science critics to enhance mutual collaboration.

8. HDFC Bank Smart Saathi: HDFC Bank rolls Out Digital Distribution Platform for BCs & BFs

HDFC Bank has introduced a digital distribution platform (DDP) called 'HDFC Bank Smart Saathi', aimed at connecting Business Correspondents (BCs) and Business Facilitators (BFs) to the bank. The launch, held in New Delhi, Delhi, was attended by Vivek Joshi, Secretary of the Department of Financial Services (DFS-Ministry of Finance), and Smita Bhagat, Group Head of Government and Institutional Business, Alternate Banking Channels and Partnerships, Inclusive Banking Group, and Start-Ups, HDFC Bank.

- The platform will facilitate HDFC Bank's agents and BCs in selling services, primarily in rural areas, by providing a secure and user-friendly experience. Additionally, it will allow agents to offer over 40 banking products and services, including loan products specifically designed for rural customers. 

- HDFC Bank Smart Saathi is part of India's vision for a cashless economy and genuine digital financial inclusion, and over the next 12 to 18 months, HDFC Bank plans to reach two lakh villages through a combination of branches and agent networks. The platform will increase agents' income generation, provide easy credit access for customers, boost agents' capacity building, and enhance financial literacy for customers.

9. WhiteOak Capital Mutual Fund launches Multi-asset NFO with Old Tax benefits

White Oak Asset Management Company (AMC) announced on April 28, 2023, the launch of their new fund offer (NFO) called the 'White Oak Capital Multi Asset Allocation Fund'. This open-ended scheme will invest in multiple asset classes such as equity-related instruments, debt and gold instruments, and offers old tax benefits. The NFO subscription is available from May 03 to May 10, 2023, and has a minimum application amount of Rs 500, with multiples of Rs 1 thereafter. The scheme is open-ended and will reopen for buying later.

- Investors can opt for a systematic investment plan (SIP) amount of Rs 500 on a weekly, fortnightly, or monthly basis. If they choose the quarterly mode of SIP payment, the amount is Rs 1,500, with multiples of Rs 1 thereafter.

- Under the multi-asset allocation approach, the fund will allocate investments based on the relative attractiveness of various asset classes such as equity, foreign equities, debt, gold, silver, and money market securities. The fund will dynamically invest across these asset classes using their Internal Proprietary Model.

- The NFO scheme is eligible for Long Term Capital Gain Tax and indexation benefits on holding for over 3 years. The White Oak Capital Multi Asset Allocation Fund aims to achieve reasonable returns with moderate volatility over the medium- to long-term. This scheme offers an easier and tax-efficient way for investors to invest in various asset classes via a single mutual fund scheme.

Other News :

1. Badminton Asia Championships 2023 : Chirag Shetty and Satwiksairaj Rankireddy

Chirag Shetty and Satwiksairaj Rankireddy created history by clinching the men’s doubles gold medal at the 2023 Badminton Asia Championships (BAC) in Dubai. They defeated Teo Ee Yi and Ong Yew Sin of Malaysia in a thrilling final match. 

- This was the first time an Indian pair won the men’s doubles title at the BAC, which is one of the prestigious continental tournaments. The last time India won a gold medal at the BAC was in 1965, when Dinesh Khanna triumphed in the men’s singles event. 

- The 2023 BAC was held at the Sheikh Rashid Bin Hamdan Indoor Hall in Dubai, United Arab Emirates (UAE) from 25th to 30th April 2023. It was hosted by the United Arab Emirates Badminton Federation with sanctions from Badminton Asia. 

- Shetty and Rankireddy also became the first Indian men’s doubles pair to reach the semi-finals of the BAC since Dipu Ghosh and Raman Ghosh, who won a bronze medal in 1971.

2. Red Bull’s Sergio Perez wins the 2023 Azerbaijan Grand Prix

On April 30th, 2023, Mexican racing driver Sergio Perez of Red Bull won the Azerbaijan Grand Prix Title at the Formula One 2023 Azerbaijan Grand Prix held from April 28th to 30th at the Baku City Circuit in Baku, Azerbaijan. Dutch-Belgian driver Max Verstappen of Red Bull secured 2nd position, and Monacan driver Charles Leclerc of Ferrari secured 3rd position. 

- This was Perez's second Azerbaijan Grand Prix victory, with the first being in 2021. The Azerbaijan GP 2023 was the 4th of 23 rounds in the 2023 FIA Formula One World Championship, which is the 74th edition of the F1 World Championship, with a circuit length of 6.003km and 51 laps.

3. Mahatma Gandhi’s Grandson Arun Manilal Gandhi, Author and Socio-Political Activist, Passed Away

Arun Manilal Gandhi, a renowned writer and social activist who was the grandson of Mahatma Gandhi, died on May 2nd, 2023 in Kolhapur, Maharashtra. He was born on April 14th, 1934 in Durban, South Africa to Manilal Gandhi and Sushila Mashruwala.

- He was the fifth grandchild of Mohandas Karamchand Gandhi, the iconic leader of India's freedom struggle. He and his wife Sunanda Gandhi founded the M. K. Gandhi Institute for Nonviolence in Memphis, Tennessee, USA in 1991. He authored several books such as "Kasturba: A Life" (2000), "The Forgotten Woman: The Untold Story of Kastur Gandhi, Wife of Mahatma Gandhi" (2016), and "The Gift: Ten spiritual lessons for the modern world from My Grandfather, Mahatma Gandhi" (2018).

4. World Press Freedom Day 2023 - 3rd May

The global community observes World Press Freedom Day on May 3 every year to highlight the vital role of a free and independent press in advancing human rights and democracy. The date marks the anniversary of the Windhoek Declaration, a landmark document that affirmed the principles of press freedom in Africa in 1991. The theme of World Press Freedom Day 2023 is “Shaping a Future of Rights: Freedom of Expression as a Driver for all other human rights”.

- This theme reflects the importance of freedom of expression as a foundational right that enables and protects all other human rights. In 2023, World Press Freedom Day will celebrate its 30th anniversary, recognizing the progress and challenges that have shaped the media landscape over the past three decades. The event will also honor the journalists who have sacrificed their lives in pursuit of truth and justice.

** World Press Freedom Index 2023 : India ranks 161

- Reporters Without Borders (RSF) published the 21st edition of the World Press Freedom Index (WPFI) on 3rd May 2023, which shows that India has fallen 11 places from 150th in 2022 to 161st out of 180 countries in terms of press freedom.

- The top five countries with the highest press freedom are Norway (1st), Ireland (2nd), Denmark (3rd), Sweden (4th) and Finland (5th), with Norway maintaining its lead for the seventh year in a row.

- The bottom three countries with the lowest press freedom are all from Asia: Vietnam (178th), China (179th) and North Korea (180th).

5. International Firefighters' Day 2023 - 4th May

The 4th of May is celebrated as International Firefighters' Day (IFFD) to honour and acknowledge the incredible work of firefighters in protecting people and property from fire. The day also pays tribute to the firefighters who have sacrificed their lives in the line of duty.

- The date coincides with St Florian's Day, the patron saint of firefighters.

- The symbol of IFFD is a ribbon with red and blue colours fused together. The red represents fire and the blue represents water, the two main elements that firefighters work with.

News360 - 3rd May , 2023 | Daily Current Affairs

  National and International News :

1. MoA&FW and NAFED launched First ever Millets Experience Centre

The Ministry of Agriculture and Farmers Welfare (MoA&FW) and the National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) joined forces on April 28, 2023 to inaugurate the inaugural ‘Millets Experience Centre’ (MEC) at Dilli Haat, INA (Indian National Airways), New Delhi. The goal of this initiative is to increase public awareness of Millets and promote their usage. The launch of the MEC in New Delhi, Delhi was celebrated by Narendra Singh Tomar, the Union Minister of MoA&FW, and Rajbir Singh, the Managing Director of NAFED.

India's First Millets Experience Centre Opens in Delhi, Promoting Healthy Eating and Start-up Community -

(i) The establishment of the MEC at DilliHaat, also known as the food bazaar of Delhi and a cultural hub for visitors from around the globe, offers a unique opportunity for visitors to witness India's 'Millet Movement'.

(ii) The MEC aims to broaden consumers' perspectives by providing healthier alternatives and highlighting India's vibrant millet-based start-up community.

(iii) The MEC concept is likely to expand to other states and retail chains, hotels, and the food and beverage industry through collaboration.

(iv) The MEC enables consumers to enjoy an extensive millet menu and an immersive in-store shopping experience with a wide range of millet-based products, promoting a nutritious and healthy diet.

Key notes :

(i) The Government of India began the National Year of Millets declaration in 2018, which has been continued with IYM 2023. This initiative aims to establish India as a "Global Hub" for Millets, thanks to the visionary efforts of the government.

(ii) IYM 2023 will feature a range of activities focused on increasing awareness about the environmental, health, and economic advantages of millet farming.

About National Agricultural Cooperative Marketing Federation of India (NAFED) :

National Agricultural Cooperative Marketing Federation of India (NAFED), established in 1958 is registered under the Multi State Co-operative Societies Act., to promote Cooperative marketing of agricultural produce to benefit the farmers.

Managing Director : Rajbir Singh Panwar

Headquarters : New Delhi, Delhi

2. UNICEF Report: 9 out of 10 Adolescent Girls and Young Women in Low-income Countries have No access to Internet

The report ‘Bridging The Gender Digital Divide: Challenges and an Urgent Call for Action for Equitable Digital Skills Development’ by UNICEF reveals that most of the youth in low- and middle-income countries lack internet access, digital skills, and mobile phones. The situation is worse for adolescent girls and young women, who face significant gender disparities in the digital world. 

The report shows that :

(i) Only 10% of adolescent girls and young women aged 15-24 in low-income countries are online, compared to 22% of adolescent boys and young men of the same age group.

(ii) Across 54 countries and territories analysed, only eight have achieved gender parity in internet use among youth. South Asia has the largest gender gap, with 27% more adolescent boys and young men online than adolescent girls and young women.

(iii) For every 100 male youth who have digital skills, only 65 female youth do, across 32 countries and territories analysed. The median values for the share of female and male youth who have digital skills are 9% and 20% respectively, a difference of 11 percentage points.

(iv) Across 41 countries and territories analysed, female youth are nearly 13% less likely to own a mobile phone than male youth within the same household, limiting their ability to participate in the digital world.

3. Indian Navy’s Warships Starts Inducting Indigenous Naval Anti-Drone Systems

The Naval Anti-Drone System (NADS), a product of the Defence Research and Development Organisation (DRDO) in collaboration with the Indian Navy and the Bharat Electronics Limited (BEL), is being deployed on the Surface warships of the Indian Navy. 

- This system, which can detect and neutralize hostile drones, is the first of its kind to be developed in India and used by the Indian Armed Forces.

4. Indian Air Force participates in exercise INIOCHOS-23 in Greece

The Indian Air Force (IAF) is taking part in Exercise INIOCHOS-23, a multinational air exercise hosted by the Hellenic Air Force (HAF) of Greece at its Andravida Air Base in the western Peloponnese. The exercise runs from April 24, 2023, to May 4, 2023.

- The IAF is participating with four Su-30 MKI fighter jets and two C-17 transport planes.

- INIOCHOS is a major air exercise in Europe and the Mediterranean that provides high-level training and a unique participation experience.

- The primary aim of the exercise is to enhance international cooperation, synergy, and interoperability among the participating air forces.

The following countries are participating in the exercise :

- Cyprus with an AW139 helicopter

- France with Rafale fighter jets

- India with four Su-30 MKI fighter jets and two C-17 transport planes

- Italy with Tornado fighter jets

- Jordan with F-16 fighter jets

- Saudi Arabia with F-15 fighter jets

- Slovenia with PC-9 trainer planes

- Spain with EF-18 fighter jets

- USA with F-16 fighter jets and MQ-9 drones

- Austria with INTEL personnel and Canada with Air Battle Managers.

Key notes :

(i) The exercise is divided into three phases: Detachment Deployment (April 18-23, 2023), Execution Phase (April 24 - May 4, 2023), and Force Redeployment (May 5-7, 2023).

(ii) INIOCHOS-23 will involve Hellenic Army, Navy, and Special Operations assets and personnel to create complex and realistic combat scenarios involving multiple types of air and surface assets.

(iii) The exercise is based on the Single Base Concept, which means that the entire exercise takes place from a single air base.

(iv) It will also enable the participating contingents to engage in professional interactions and share each other's best practices. 

5. Emirates Airline Unveils World’s First Robotic Check-In Assistant - Sara

Emirates has introduced Sara, a portable robotic check-in assistant, at its new City Check-in and Travel Store in Dubai's financial district . Sara can assist customers with booking, checking-in, and dropping off their luggage using facial recognition technology . The store also offers a range of services and facilities for travellers, such as shopping, discounts, and access to lifestyle amenities .

- The City Check-in and Travel Store is located at ICD Brookfield Place in Dubai International Financial Centre (DIFC), near popular attractions such as Dubai Mall and Burj Khalifa. Customers can use the store to check in and drop off their luggage as early as 24 hours and up to 4 hours before their flight . They can also choose to use self check-in kiosks or dedicated desks with Emirates agents .

- Sara is the world's first robot check-in assistant and a testament to Emirates' commitment to providing innovative and convenient travel solutions . Sara can match faces with scanned passports, check passengers in, and guide them to the luggage drop area at the centre . Sara is designed to make the check-in process faster and more seamless for customers.

6. Shantanu Roy to be the Next CMD of BEML Limited

Shantanu Roy has taken charge as the new Chairman & Managing Director (CMD) of BEML Limited (formerly known as Bharat Earth Movers Limited), a Miniratna Public Sector Undertaking (PSU) under the Ministry of Defence (MoD).

- He was recommended by the Public enterprises selection board (PESB) on 18th April 2023 for the position.

- He was previously serving as Director (Mining & Construction Business) in BEML Limited. He succeeded Amit Banerjee, who was holding the additional charge of CMD along with his role as Director (Rail & Metro) .

7. Golden Globe Race 2022: Indian Sailor Abhilash Tomy 1st Indian & Asian to Complete Golden Globe Race

Commander Abhilash Tomy, a retired Naval officer, made history on 29th April 2023 by becoming the first Indian and Asian to complete the Golden Globe Race, a solo around-the-world sailing competition. 

- The race began on 4th September 2022 from Les Sables-d'Olonne in France, and Commander Tomy secured second place, taking 236 days, 14 hours, and 46 minutes to accomplish the feat. 

- The 2022 Golden Globe Race is the third edition of the original Sunday Times Golden Globe Race. South African Kirsten Neuschäfer became the first woman ever to win a solo around-the-world race by finishing first in the Golden Globe Race, taking 235 days, 5 hours, 44 minutes, and 4 seconds to complete.

8. DRDO & IN conducted successful maiden test trial of ADC-150 from IL-38SD Aircraft off Goa coast

An indigenous Air Droppable Container with a payload capacity of 150 kg, named ‘ADC-150’, was successfully tested for the first time by the Defence Research & Development Organisation (DRDO) and Indian Navy (IN) from an IL 38SD aircraft near Goa. 

- The container was designed and developed by three DRDO labs : Naval Science & Technological Laboratory (NSTL) in Visakhapatnam, Andhra Pradesh; Aerial Delivery Research & Development Establishment (ADRDE) in Agra, Uttar Pradesh; and Aeronautical Development Establishment (ADE) in Bengaluru, Karnataka. 

- The flight clearance certification was issued by Regional Center for Military Airworthiness (RCMA) in Kanpur, Uttar Pradesh, under the supervision of Centre for Military Airworthiness & Certification (CEMILAC) in Bengaluru.

9. NTPC and NPCIL signed agreement for developing Nuclear Power Plants

A supplementary JV agreement for nuclear power projects was signed on May 1, 2023 by NTPC Ltd., formerly National Thermal Power Corporation Limited, and NPCIL, Nuclear Power Corporation of India Ltd.

- This agreement will support India's Clean Energy Commitments and help achieve net zero emissions by 2070.

- The collaboration aims to reach a 20 GW nuclear power generation capacity by 2030.

- The signatories were Ujjwal Kanti Bhattacharya, Director Projects of NTPC Ltd. and Ranjay Sharan, Director Projects of NPCIL in New Delhi, Delhi.

10. DRDO conducts Design Validation Trial of Vertical Shaft based Underground Ammunition Storage Structure

The Centre of Fire, Explosive and Environment Safety (CFEES), a Delhi-based laboratory of DRDO, has successfully conducted the Design Validation Trial Vertical Shaft based Underground Ammunition Storage Facility.

- The underground facility was tested by detonating 5,000 kgs of Trinitrotoluene (TNT) in one of its chambers. This facility has been designed to ensure that any explosion within a chamber will not cause damage to the adjacent chamber and will enable upward vertical dissipation of blast effects, thereby ensuring the full operability of the remaining facility.

- The Armed Forces face challenges in storing ammunition due to the lack of enough land, which makes it hard to maintain safety distances. However, underground storage can reduce safety distances, as seen in trials.

- Using a new design, the facility can safely store 120 metric tons of ammunition per chamber with a lower safety distance.This design is also 50% cheaper and safer from attacks or sabotage.

11. WEF Future of Jobs Report 2023: Indian Job Market to Witness 22% Growth in 5 Years

The Future of Jobs Report 2023 Insight Report by the World Economic Forum (WEF) reveals that the Indian job market is expected to grow by 22% over the next five years, with artificial intelligence (AI), machine learning, and data segments driving job creation. Globally, the job market is expected to expand at 23%, with the creation of 69 million new jobs in the next five years. However, the report also estimates that 83 million jobs will be eliminated by 2027.

- Key findings for India show that job growth will be driven by broader applications of ESG (Environment, Social and Governance) standards, increased adoption of new technologies, broadening digital access, and climate-change induced investments. In India, 97% of respondents preferred training funded by the organization, compared to the global average of 87%.

- Globally, the report covers 803 companies employing over 11.3 million people across 45 economies and 27 sector clusters. The study shows that almost a quarter of jobs (23%) are expected to change in the next five years, with 10.2% expected to grow and 12.3% to decline. Six in 10 workers will require training before 2027, but only half of employees currently have access to adequate training opportunities.

- The report highlights that big data, cloud computing, and AI feature highly on the likelihood of technology adoption, and e-commerce and digital trade are expected to be adopted by 75% of businesses. Jobs in the education industry are expected to grow by 10%, leading to 3 million additional jobs, while jobs for agricultural professionals, especially agricultural equipment operators, are expected to increase by around 30%, leading to an additional 3 million jobs.

In short -

(i) The Indian job market is set to grow by 22% over the next five years, with AI, machine learning, and data segments driving job creation.

(ii) Globally, the job market is expected to expand at 23%, creating 69 million new jobs in the next five years, but 83 million jobs will be eliminated by 2027.

(iii) Job growth in India will be driven by ESG standards, new technology adoption, digital access, and climate-change induced investments.

(iv) In India, 97% of respondents prefer organization-funded training, compared to the global average of 87%.

(v) The report covers 803 companies employing over 11.3 million people across 45 economies and 27 sector clusters.

(vi) Almost a quarter of jobs (23%) are expected to change in the next five years, with 10.2% expected to grow and 12.3% to decline.

(vii) Big data, cloud computing, and AI are highly likely to be adopted by businesses, and e-commerce and digital trade are expected to be adopted by 75% of them.

(viii) Jobs in the education industry are expected to grow by 10%, leading to 3 million additional jobs, and agricultural equipment operators' jobs are expected to increase by around 30%, leading to an additional 3 million jobs.

About World Economic Forum (WEF) :

Founder & Executive Chairman : Professor Klaus Schwab 

Managing Director (MD) : Saadia Zahidi

Headquarters : Cologny, GenevaCanton, Switzerland

Establishment : 1971

12. UK based Indian origin actor-author Meera Syal receives BAFTA Fellowship

Meera Syal, a 61-year-old actor and writer of Indian origin based in the UK, has received the prestigious BAFTA Fellowship. This is the highest honour bestowed by the BAFTA, an independent arts charity that celebrates excellence in films, games and television. The fellowship recognises Meera Syal's outstanding and exceptional contribution to these fields.

- The BAFTA Television Awards ceremony on May 14, 2023 will honour Meera Syal's work at the Royal Festival Hall in London, UK. Meera Syal will also collaborate with the arts charity for the next year to mentor and support emerging creatives through BAFTA's learning, inclusion and talent initiatives.

About Meera Syal :

Meera Syal is a renowned British-Indian writer and actor who was born on 27 June 1961 in Wolverhampton, England. She is a recipient of the MBE (1997) and CBE (2015) awards from the late Queen Elizabeth II for her services to drama and literature. 

- She has also been honoured with the Women In Film and TV Award for Creative Innovation, and honorary doctorates from SOAS, Manchester and Birmingham Universities. She was the Cameron Mackintosh Visiting Professor of Contemporary Theatre at St Catherine’s College, Oxford University in 2012. 

- She has a versatile career spanning television, radio, novels and theatre. Some of her most popular works include the novels ‘Anita and Me’ and ‘Life Isn’t All Ha Ha Hee Hee’, and the TV shows ‘Goodness Gracious Me’ and ‘The Kumars at No. 42’.

Banking and Finance News :

1. BOI Launches Shubh Arambh FD scheme for Senior citizens

The Bank of India (BoI) has introduced a retail term deposit plan named 'Shubh Arambh Deposit' for senior citizens. 

- It has revised its interest rates and now offers an additional interest rate of 0.50% for senior citizens and 0.65% for super senior citizens. 

- Effective from April 1, 2023, the bank is offering an interest rate of 7.65% for senior citizens aged 60-80, and 7.80% for super senior citizens aged above 80 for 501-day fixed deposits. 

- General customers can avail of a 7.15% interest rate on a 501-day term. Other tenures ranging from 7 days to 10 years will receive interest rates up to 7.25% for senior citizens, 7.40% for super senior citizens, and up to 6.75% for regular customers.

2. ACC names Siddhartha Mohanty as LIC Chairperson and First CEO

Siddhartha Mohanty, who was serving as the Managing Director and interim chairperson of Life Insurance Corporation of India (LIC), has been appointed as the Chairperson of the state-owned insurer by the Appointments Committee of the Cabinet (ACC) on April 28, 2023. The proposal was made by the Department of Financial Services (DFS), Ministry of Finance. He will hold the position till June 29, 2024.

- He will also become the first Chief Executive Officer (CEO) and Managing Director of LIC after this, with a tenure lasting till June 7, 2025 or until he reaches the age of 62 years, whichever comes first. He will receive a fixed pay scale of Rs 2,25,000 per month.

Other News :

1. International Workers’ Day 2023 – 1st May

A global celebration of workers and their achievements, International Workers’ Day or International Labour Day, takes place every year on 1st May. 

- The day is also known as May Day or Antarrashtriya Shramik Diwas or Kamgar Din in some regions. It honors the importance of workers and their role in society.

2. Ayushman Bharat Diwas 2023 – 30th April

Ayushman Bharat Diwas is a day to celebrate the achievements of the Ayushman Bharat scheme, which was launched by Prime Minister Narendra Modi in 2018. The scheme aims to provide affordable and quality healthcare to over 50 crore beneficiaries, especially those who live in remote areas and below the poverty line. The day is observed on April 30 every year as part of the Gram Swaraj Abhiyan.

- The day also highlights the importance of universal health coverage and aligns with the United Nations' Sustainable Development Goals. The scheme has two components: the Pradhan Mantri Jan Arogya Yojana, which covers hospitalisation costs for poor and vulnerable families, and the Health and Wellness Centres, which provide primary healthcare services at the grassroots level.

(i) Ayushman Bharat –Pradhan Mantri Jan AarogyaYojana (AB-PMJAY) :

Ayushman Bharat – Pradhan Mantri Jan AarogyaYojana (AB-PMJAY) is a flagship scheme of the Government of India (GoI) under the Ministry of Health and Family Welfare (MOHFW) aimed at achieving the vision of Universal Health Coverage (UHC).

- The scheme was launched on 23rd September 2018 by Prime Minister (PM) Narendra Modi in Ranchi, Jharkhand with the main goal of providing quality healthcare services through public-private partnerships (PPPs).

- Ayushman Bharat comprises two interrelated components, Health and Wellness Centres (HWCs) and Pradhan Mantri Jan Arogya Yojana (PM-JAY).

(ii) Ayushman Bharat – Health and Wellness Centres :

The Government of India (GoI) announced the establishment of 150,000 Health and Wellness Centres (HWCs) in 2018 by transforming existing Sub-Centres and Primary Health Centres, which would serve as the foundation of Ayushman Bharat.

- These facilities aim to provide Comprehensive Primary Health Care (CPHC) to people by bringing healthcare services closer to their homes. They cover maternal and child health services as well as non-communicable diseases and provide free essential drugs and diagnostic services.

(iii) Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana :

Pradhan Mantri Jan Arogya Yojana (PMJAY) is a government-funded health insurance/assurance scheme that aims to provide financial protection for secondary and tertiary care to approximately 40% of households in India.

- PMJAY is the largest such scheme in the world, offering coverage of up to Rs 5 lakhs per family for hospitalization across both public and private healthcare institutions.

- The scheme covers over 12 crore poor and vulnerable families, which equates to approximately 55 crore beneficiaries.

News360 - 2nd May , 2023 | Daily Current Affairs

 National and International News :

1. Narendra Singh Tomar Launches ‘Millets Experience Centre’ at Dilli Haat, INA, New Delhi

Agriculture Minister Narendra Singh Tomar launched the first-of-its-kind Millets Experience Centre (MEC) at Dilli Haat in New Delhi. The National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED), in collaboration with the Agriculture Ministry, established the MEC with the goal of promoting millets and raising awareness among the general public.

The United Nations General Assembly declared the year 2023 as the International Year of Millets (IYM 2023) based on India's proposal supported by 72 countries, establishing India as the leader of the event. The Government of India is working on a 'mission mode' to make millets a winner for farmers, the environment, and consumers.

This Ministry-led initiative seeks to popularize millets (Sri Anna) as a nutritional powerhouse by providing a variety of dishes such as millets dosa and millets pasta. The MEC not only offers a unique dining experience but also allows customers to purchase a variety of ready-to-eat and ready-to-cook products from local millet start-ups.

In short -

(i) Agriculture Minister Narendra Singh Tomar inaugurated MEC at Dilli Haat

(ii) NAFED and Agriculture Ministry set up MEC to promote millets

(iii) India leads IYM 2023 with 72 countries' support

(iv) Millets benefit farmers, environment, and consumers

(v) MEC serves and sells millet dishes and products

2. Ladakh’s Hanle is India’s first Dark Sky Reserve

Hanle, a village in Ladakh's cold desert region, is home to India's first Dark Sky Reserve. The reserve spans an area of 1,073 sq km and is located at an altitude of 4,500 metres above sea level. The reserve offers a breathtaking view of the night sky with minimal light pollution and interference. The Indian Astronomical Observatory is located within the reserve, hosting telescopes for optical, infrared and gamma-ray astronomy.

- The reserve aims to promote astro-tourism and educate visitors about the wonders of the universe.

- Homestays equipped with telescopes are available for visitors to stay in and learn from trained locals on observing the stars and planets.

- The reserve also showcases the rich biodiversity and culture of the Changthang Wildlife Sanctuary.

- The Changthang Wildlife Sanctuary is home to rare animals like the Tibetan wild ass and the black-necked crane.

- Benital, a village in Uttarakhand, is being developed as India's first astro-village by the Department of Science and Technology. Benital is situated at an elevation of 2,600 metres above sea level and has low light pollution and human activity.

- The project aims to create a dark sky park with a visitor centre, an observatory, a planetarium and a camping site. The project also aims to raise awareness among locals about the importance of preserving dark skies and the environment. The estimated cost of the Benital astro-village project is Rs 5 crore.

In short - 

(i) Ladakh's Hanle village hosts India's first dark sky reserve, open to public soon

(ii) The reserve covers 1,073 sq km across six hamlets in Hanle cold desert region at 4,500 metres elevation

(iii) The reserve offers a spectacular view of the night sky with minimal artificial light interference

(iv) Benital in Uttarakhand is being developed as India's first astro-village with low light pollution and high altitude

(v) The project costs Rs 5 crore and is entrusted to Garhwal Mandal Vikas Nigam

3. Telangana Government launches Agri Innovation Challenge

Telangana Government has launched a Grand Challenge for Innovation to promote innovation in the food processing sector. Telangana Agriculture Minister S Niranjan launched the Challenge at the inaugural of the Food Conclave 2023. Telangana government is organizing the Food Conclave-2023 on April 29, 2023, with a focus on opportunities in the Green, White, Yellow, Blue, and Pink revolutions.

- The theme of the conclave is " Envisioning India's Decade in the Agri-Food Sector " .

- The event will have events around five themes — Agriculture (Green), Edible Oil (Yellow), Dairy (White), Meat and Poultry (Pink), and Aquaculture (Blue).

- The government has collaborated with the World Economic Forum (India), Indian Vegetable Oil Producers Association (IVPA), Indian Dairy Association, Heifer International, and Society of Aquaculture Professionals to hold panel discussions.

In short -

(i) Telangana Government launches Grand Challenge for Innovation in food processing sector

(ii) Agriculture Minister S Niranjan inaugurates Food Conclave 2023

(iii) Food Conclave 2023 focuses on opportunities in Green, White, Yellow, Blue, and Pink revolutions

(iv) Theme of conclave is "Envisioning India's Decade in the Agri-Food Sector"

(v) Five themes of event are Agriculture (Green), Edible Oil (Yellow), Dairy (White), Meat and Poultry (Pink), and Aquaculture (Blue)

(vi) World Economic Forum (India), IVPA, Indian Dairy Association, Heifer International, and Society of Aquaculture Professionals to hold panel discussions

4. Jet Airways CEO-designate Sanjiv Kapoor quits

Sanjiv Kapoor, who was appointed as the CEO of Jet Airways (India) Ltd, a grounded airline, has quit the company. He took charge of Jet Airways on April 4, 2022.

Sanjiv Kapoor's background :

He started his career in the airline industry with Northwest Airlines in the US in 1997, working in finance, planning, and procurement. He also served as the CEO of GMG airlines in Bangladesh. Before joining Jet Airways, he was the president of Oberoi Hotels and Resorts.

5. PESB recommends Amrendu Prakash as SAIL Chairman

Amarendu Prakash has been recommended by the Public Enterprises Selection Board (PESB) for the position of Chairman at Steel Authority of India Ltd (SAIL).

Here's some information about Amarendu Prakash :

He began his career at SAIL in 1991, working at Rolling Mills. 

In 1999, SAIL awarded him the prestigious "JAWAHAR AWARD" for his leadership qualities as the best young manager.

Currently, he serves as the Director in charge (Bokaro Steel Plant) at Steel Authority of India Ltd (SAIL).

About SAIL :

Founded : 19 January 1954

Headquarters : New Delhi, India SAIL is a central public sector undertaking under the ownership of the Ministry of Steel, Government of India (GoI).

6. Boria Majumdar released a new book titled 'Sachin@50 - Celebrating a Maestro on the occasion of Sachin Tendulkar's birthday

Boria Majumdar, a celebrated sports historian and TV show host, has recently published a new book called " Sachin@50 - Celebrating a Maestro " to commemorate Sachin Tendulkar's 50th birthday. The book takes readers through Tendulkar's journey of triumph, from his teenage debut in 1989 to his global recognition after the bleeding nose incident in Pakistan. It also chronicles how he became the greatest batting sensation of all time, transcending the boundaries of the sport.

The book comprises original essays and excerpts from various notable personalities, such as Tendulkar's wife, Anjali Tendulkar, his brother Ajit Tendulkar, cricket legends Sunil Gavaskar, Sourav Ganguly, and Rohit Sharma, and international cricketer David Warner.

7. Indian football : Odisha FC to face Gokulam Kerala for a spot in the 2023-24 AFC Cup

Odisha FC won their first title by beating Bengaluru FC in the final of the Super Cup.

- Diego Mauricio, a Brazilian player, scored both goals for Odisha FC in the first half.

- Sunil Chhetri scored a penalty in the 84th minute for Bengaluru FC, making it a nervy finish for Odisha FC.

- It was the first-ever final for Odisha FC, while it was the third for Bengaluru FC in the season.

- Bengaluru FC lost their second final in two months, having lost the ISL final to ATK Mohun Bagan in a shootout.

- Diego Maurício was named the Player of the Tournament.

- Wilmar Jordan Gil from Northeast United FC won the Top Goalscorer of the Tournament award with 7 goals.

- Amrinder Singh from Odisha FC was named the Best Goalkeeper of the Tournament.

8. Odisha extends Indian Hockey team sponsorship till 2033

Odisha govt extends sponsorship for Men and Women Indian Hockey Teams for another ten years, from 2023 to 2033. The decision was taken at the Cabinet meeting chaired by CM Naveen Patnaik, along with approving 15 proposals submitted by various departments. Odisha has been the official sponsor of both teams since 2018, and OMC will now commit to sponsoring both teams till January 31, 2033, with a total amount of ₹434.12 crores (excluding applicable taxes) released during this period.

9. Bengaluru experiences Zero Shadow Day as shadows disappear

On 25 April, people in Bengaluru witnessed a rare astronomical event where their shadows vanished from the ground. At 12:17 pm, the Sun was directly overhead, causing Zero Shadow Day in the city. This phenomenon occurs twice a year in certain regions of the world due to the Earth's axial tilt. Specifically, it can be observed in locations within the latitudes of +23.5 and -23.5 degrees.

10. ADB Annual Report 2022: Pakistan is the Largest Recipient of ADB Loans in Asia

Pakistan was the top beneficiary of ADB's lending and grant programs in 2022, receiving USD 5.58 billion out of the total USD 31.8 billion disbursed by ADB to 40 countries.

ADB's Annual Report 2022 shows how ADB helped its developing member countries cope with the COVID-19 pandemic and other development challenges through finance, knowledge, and partnerships.

Pakistan, which faced a severe economic crisis, obtained USD 2.67 billion in concessional funding from ADB in 2022 .

11. Xypex Announces Launch of  First Production Plant in India

Canadian concrete waterproofing solutions provider, Xypex has announced the launch of its first production plant in India. The plant will be opened at Greater Noida, Uttar Pradesh. The facility will house chemical manufacturing, and distribution capabilities to serve upstream, midstream,downstream, and adjacent industries in the region.

Banking and Finance News :

1. RBI Issues Detailed Norms For Outsourcing Of IT Services By Banks & Non banking financial Companies

RBI has released detailed norms for outsourcing of IT services by banks, NBFCs, and regulated financial sector entities to ensure they fulfill their responsibilities and obligations to customers.

- Regulated Entities have been extensively leveraging IT and ITeS to support their business models, products, and services offered to their customers.

- The norms will come into effect from October 1, 2023, providing REs adequate time to comply with the requirements.

- The underlying principle of the directions is to ensure that outsourcing arrangements neither diminish REs’ ability to fulfill their obligations to customers nor impede effective supervision by the central bank.

- A RE should ensure that the service provider employs the same high standard of care in performing the services as would have been employed by the RE if the same activity was not outsourced.

- REs should not engage an IT service provider that would compromise or weaken their reputation.

- A RE intending to outsource any of its IT activities should have a comprehensive board-approved IT outsourcing policy.

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

In short -

(i) RBI issued norms for outsourcing IT services by banks, NBFCs and other financial entities

(ii) The norms aim to ensure that outsourcing does not compromise REs' obligations and supervision

(iii) The norms will be effective from October 1, 2023

(iv) REs should have a board-approved IT outsourcing policy and a high standard of care

(v) REs should not engage IT service providers that would damage their reputation

(vi) REs should ensure their service providers have robust business continuity and disaster recovery plans

2. ICICI Bank enables FASTag based parking payment at Mangaluru International Airport

ICICI Bank has launched a digital and contactless payment facility for parking at the Mangaluru International Airport. This facility features scanners that read the FASTag affixed to the windshield of a vehicle, allowing for automatic entry and exit recording of the vehicle's entry and exit time.

- ICICI Bank is the only bank to introduce the FASTag facility at the airport. The facility enables FASTag users of any bank to pay parking charges digitally and in a contactless manner, resulting in quicker movement of vehicles in the parking zone.

3. RBI Circular on branch audit of PSBs cause disquiet

The RBI has given banks the freedom to choose the percentage of their branch business they want to get audited from FY24. Auditors are concerned that this could hamper their ability to properly assess risks and report on the situation. For the current financial year, the RBI has reduced the percentage of business of the branches that can be audited.

- According to a recent circular, the statutory branch audit of public sector banks (PSBs) should cover a minimum of 70% of the funded and non-funded business for FY23, and from FY24 banks can decide the percentage of business coverage they want audited. Earlier, the audit coverage of any PSB branch was 90%.

- The RBI has specified that the PSB board can decide on the selection of branches for audit purposes, which means that not all branches will be covered under the audit. There are 84,000 bank branches in India, and each auditor can cover only two branches.

In short -

(i) RBI gives banks freedom to choose audit coverage from FY24

(ii) Auditors warn of risk assessment challenges due to lower audit percentage

(iii) RBI reduces branch audit coverage from 90% to 70% for FY23

(iv) PSB board can select branches for audit, leaving some out of scope

(v) Auditor limit of 2 branches per person affects 84,000 bank branches in India

Other News :

1. Administrative Professionals Day 2023 – 26th April 2023

On the Wednesday of the last full week in April, people globally observe Administrative Professionals Day, which is also known as Secretaries Day or Admin Day. The year 2023's Administrative Professionals Day was observed on April 26th.

2. World Veterinary Day 2023 - 29th April 2023

On 29 April 2023, World Veterinary Day was observed, which is celebrated annually on the last Saturday of April. The theme for this year's celebration was ' Promoting diversity, equality and inclusion in the veterinary field ' .

3. World Tuna Day 2023 - 2nd May

The United Nations(UN) declared May 2 as World Tuna Day to protect tuna from overfishing and extinction. Tuna is a vital source of food, income and culture for many people. Tuna stocks are threatened by high demand and illegal fishing. The first World Tuna Day was observed in 2017. Tuna is a fast and powerful fish that can swim up to 43 miles per hour and weigh up to 2000 pounds.

4. World Asthma Day 2023 - 2nd May

World Asthma Day is an annual global healthcare event that promotes awareness of asthma worldwide. It is celebrated on the first Tuesday of May every year. World Asthma Day 2023 was observed on May 2, 2023.

- Various global and local organizations come together on this day to combat the major global non-communicable disease in children and adults.

- The theme of World Asthma Day 2023 was “Asthma care for All” and was organized by Global Initiative for Asthma(GINA).

- The first Asthma Day was organized in 1998 in more than 35 countries.

- The event is organized annually by Global Initiative for Asthma(GINA) to raise awareness among people and to provide them with knowledge on how to get control over this disease. Asthma is a disease that causes respiratory problems in the lungs of humans and makes it difficult for them to breathe.

- The first Asthma disease meeting was held in Barcelona, Spain, and it was conducted in more countries to get control of Asthma.