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 " .

News360 - 22nd and 23rd April , 2023 | Daily Current Affairs

 National and International News :

1. Assam, Arunachal Pradesh ink agreement to resolve old Border Dispute

A Memorandum of Understanding (MoU) was signed on April 20, 2023, by the Chief Minister of Assam, Dr. Himanta Biswa Sarma, and the Chief Minister of Arunachal Pradesh, Pema Khandu, to resolve the longstanding border conflict over an 804-km shared boundary between the two states. This signing ceremony took place in Delhi, in the presence of Union Minister Amit Shah from the Ministry of Home Affairs (MHA) in New Delhi.

The conflict was regarding 123 villages spread across 12 districts of Arunachal Pradesh and eight of Assam, which were claimed by Arunachal Pradesh in 2007. To determine the boundary between the two states, the Supreme Court appointed a Local Commission, and in 2022, the process of resolving the dispute began through the formation of 12 regional committees from both states. Both states have accepted the recommendations put forward by these committees, leading to the resolution of conflicts concerning 34 of these villages as per the MoU signed.

Furthermore, disputes over 37 villages were resolved through the Namsai Declaration of July 2022, where the two Chief Ministers agreed in principle over them.

About the MoU :

The MoU between the state governments involved has been deemed "full and final" concerning the 123 disputed villages, and new encroachments in border areas will not be permitted. The agreement entails that one village in Arunachal Pradesh will now belong to Assam, while 60 villages in Assam will become part of Arunachal Pradesh, and 10 villages will remain in Assam. The regional committees will determine the boundary for 49 of the remaining 52 villages within six months, and three villages located within the Indian Air Force (IAF) bombing range will need rehabilitation.

The Assam-Arunachal Pradesh boundary is the longest inter-state border in the Northeast and has been pending in the Supreme Court since 1989.

2. CSIR and OIL Sign MoU for Advanced Energy Research

The Council of Scientific and Industrial Research (CSIR) and Oil India Ltd. (OIL) have signed an umbrella Memorandum of Understanding (MoU) with the goal of pursuing technological partnership in specific areas across the energy value chain to promote research in advanced technologies for energy security. 

The identified areas for joint Research and Development (R&D) activities and technology partnership include new frontier areas in hydrocarbon exploration, upstream and downstream operations, new and renewable energy, batteries/storage systems, green and renewable hydrogen/biohydrogen (H2), reducing environmental pollution and bioremediation, waste treatment (including oil separation and recovery from wastewater and waste sludge, including crude oil sludge), corrosion inspection and anti-corrosion coating, extraction of Lithium and Rare Earth Elements from Oilfield Water, stranded natural gas to fuel molecules, and decarbonisation and net zero targets.

The MoU was signed by Dr. N Kalaiselvi, DG (Director General), CSIR & Secretary, Department of Scientific and Industrial Research (DSIR) and Dr. Ranjit Rath, CMD (Chairman & Managing Director), OIL.

About MoU :

The MoU between CSIR and OIL is a milestone for advanced energy research and enables collaboration with all CSIR labs. It aims to accelerate the development of new technologies and solutions to enhance energy security and sustainable growth, and also includes capacity building through training and skill development. As a Navaratna company, OIL is open to providing CSR funding to achieve Sustainable Development Goals, Aspirational Districts, Rural Development, and Government missions/initiatives.

3. CCI Approves Acquisition of up to 76.10% of Voting Share Capital of Suven Pharmaceuticals Limited By Berhyanda Limited

The CCI has approved Berhyanda Limited's acquisition of up to 76.10% of Suven Pharmaceuticals Limited's voting share capital via a share purchase agreement dated December 26th, 2022.

This acquisition is compliant with the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and is pursuant to a mandatory open offer.

Berhyanda Limited is a wholly owned subsidiary of Berhyanda Midco Limited, which is a wholly owned subsidiary of Jusmiral Midco Limited. 

These entities are controlled by Advent International Corporation's Advent International GPE IX Funds and Advent International GPE X Funds.

Suven Pharmaceuticals Limited is a bio-pharmaceutical company founded on November 6th, 2018.

4. Atal Innovation Mission, NITI Aayog, UNCDF launches Whitepaper to make India Global Agri-Tech Leader

A whitepaper was launched on April 20, 2023, by Atal Innovation Mission (AIM), NITI Aayog, and the United Nations Capital Development Fund (UNCDF), with the objective of positioning India as a global leader in Agri-Tech innovation and scaling up these innovations in underdeveloped countries in Asia and Africa. The whitepaper was authored by experts from AIM, NITI Aayog, and UNCDF.

About Whitepaper :

The whitepaper, launched jointly by Atal Innovation Mission, NITI Aayog, and UNCDF on April 20, 2023, aims to establish India as a global leader in Agri-Tech innovation and expand these innovations to the least developed countries in Asia and Africa. It provides practical solutions to the challenges faced by Agri-Tech startups and offers recommendations to promote sustainable agricultural practices, food security, and address supply chain inefficiencies and climate change concerns in developing economies. The whitepaper recognizes the potential of Agri-Tech innovations in supporting smallholder farmers and improving the overall agriculture sector.

Key point :

The AIM-UNCDF partnership aims to promote Agri-Tech innovation globally and address challenges in the agriculture sector, such as low productivity, poor risk resilience, and inefficient supply chain management. It facilitates cross-border engagement, knowledge exchange, and investments, creating a collaboration environment for start-ups from Asia and Africa to exchange ideas and generate opportunities in their respective countries.

About UN Capital Development Fund (UNCDF) :

Executive Secretary : Preeti Sinha

Headquarters : New York, United States

5. UNICEF Data Indicates Declining Confidence in Childhood Vaccines During COVID-19 Pandemic

The United Nations Children's Fund (UNICEF) has published a report titled "State of the World's Children 2023: For Every Child, Vaccination" which reveals that routine vaccination coverage for children has decreased during the COVID-19 pandemic. The report states that 67 million children missed one or more vaccinations over three years, with coverage levels decreasing in 112 countries. This decline is attributed to service disruptions, strained health systems, resource diversion, conflict, fragility, and decreased confidence. India is highlighted in the report as one of the countries with the highest vaccine confidence globally.

Key points :

(i) The UNICEF's "State of the World's Children" report is published annually since 1980 to increase awareness and understanding of critical issues affecting children, and to advocate for solutions that promote their well-being.

(ii) The Vaccine Confidence Project at the London School of Hygiene and Tropical Medicine collected the data for the 2023 report on the impact of the COVID-19 pandemic on routine vaccination coverage for children.

6. Norwegian Government Pension Fund increased its stake in Bajaj Electricals by 1.73%

Norwegian Government Pension Fund Global has increased its stake in Bajaj Electricals by 1.73% through bulk deals, bringing its total shareholding to 3.03%. Small Cap World Fund, a California-based venture capital firm, has offloaded 22 lakh shares or 1.94% stakes in Bajaj Electricals, reducing its holding to 3.36%.

7. Himachal Pradesh becomes India’s 1st state to have DNA database of Unidentified Bodies

Himachal Pradesh (HP) has developed a DNA database for unidentified bodies, becoming the first Indian state to do so.

The process of creating this database started in April 2022 and currently, the records of 150 DNA samples of unidentified bodies have been stored in the database.

The Directorate of Forensics Services, Junga, in Shimla (HP) procured DNA profile databasing and matching technology, Smallpond TM software from the United States(US) at a cost of Rs 55 lakh in 2022. It was the first lab to acquire this technology and the facility is at par with international standards.

The database will be useful in the identification of bodies. To identify, the DNA samples of the relatives would be matched with the data/samples stored in the DNA profiling database, and accurate details would be available within seconds.

The database is being prepared and it will have the capacity to store 20,000 DNA profiles, which can be scaled further.

More than 100 bodies are recovered in different parts of the state every year and these remain unidentified. Thus the DNA database would be beneficial in bringing transparency, eliminating data inconsistency, and catching the criminal in cases where crime led to death.

Private, local database of DNA profile information enables efficient matching of new DNA profiles with the existing ones.

DNA : DNA stands for Deoxyribonucleic Acid, which is a molecule that carries genetic information and determines the physical and biological characteristics of living organisms. DNA is present in almost all living cells and it is responsible for the inheritance of traits from parents to offspring. The structure of DNA is a double helix, made up of four nitrogenous bases: adenine (A), thymine (T), cytosine (C), and guanine (G). The sequence of these bases determines the genetic code and variations in the sequence lead to differences in physical and biological traits. DNA analysis has become an important tool in forensic science, medical research, and genetic engineering.

8. West Bengal tops list of States with most ponds and reservoirs: 1st-ever waterbody census

The Ministry of Jal Shakti has released the “Water Bodies – 1st Census Report”, revealing that West Bengal has the highest number of ponds and reservoirs among all states. Tamil Nadu tops the list for the highest number of lakes, while Andhra Pradesh has the most tanks and Maharashtra leads in water conservation schemes. In total, India has 24.24 lakh water bodies, with West Bengal accounting for the most at 7.47 lakh and Sikkim the least at 134.

Some key points regarding the water bodies census are :

(i) The census was conducted as part of the 6th Minor Irrigation Census for 2017-18, under the Centrally Sponsored Scheme "Irrigation Census."

(ii) Less than 3% of the total water on earth is freshwater, and around 75.2% of this freshwater is frozen in polar regions, while 22.6% is present as groundwater.

9. IIT Madras to set up its first international campus in Tanzania

IIT Madras, based in Chennai, is establishing its first international campus in Zanzibar, Tanzania.

The classes are expected to start in October 2023.

This is the first IIT to be established in Africa and is expected to contribute to the growth and development of Tanzania and Africa as a whole.

In February 2023, a team of 5 professors from IIT Madras visited Tanzania to discuss the establishment of the campus with officials.

The announcement regarding the establishment of the campus was made by the Director of IIT Madras, V Kamakoti, during the institute's 64th Institute Day on 20th April 2023.

The announcement was made in the presence of Sridhar Vembu, Founder of Zoho Corporation, who was the Chief Guest at the event.

10. Wg Cdr Deepika Misra becomes 1st Woman Officer of IAF to receive Gallantry Award

Wing Commander (Wg Cdr) Deepika Misra made history on April 20, 2023, as the first female officer in the Indian Air Force (IAF) to receive the Vayu Sena Medal(VM) for Gallantry. The award was bestowed upon her by Chief of the Air Staff (CAS) Air Chief Marshal Vivek Ram Chaudhari at the Investiture Ceremony 2023, which took place at the Air Force Auditorium in Subroto Park, New Delhi, Delhi.

Key points :

(i) Wg Cdr Deepika Misra is the first woman officer in the Indian Air Force (IAF) to receive the Vayu Sena Medal (VM) for Gallantry on April 20, 2023, presented by Chief of the Air Staff (CAS) Air Chief Marshal Vivek Ram Chaudhari at an Investiture Ceremony held at the Air Force Auditorium in Subroto Park, New Delhi.

(ii) Misra is a trained helicopter pilot, qualified flying instructor, and an instrument-rated instructor and examiner.

(iii) The Gallantry Award was given to Misra in recognition of her exceptional courage displayed during a flood relief operation in Madhya Pradesh (MP) and Rajasthan, where she helped in saving the lives of 47 people in floods in 2022 in the aforementioned areas.

(iv) CAS presented Presidential Awards to a total of 58 persons, 57 from the IAF and one from the Army received the awards, including Two Yudh Seva Medals, 13 Vayu Sena Medals (Gallantry), 13 Vayu Sena Medals (devotion to Duty), and 30 Vishisht Seva Medals.

About the Vayu Sena Medal (VM) :

The VM was instituted on January 26, 1960, to recognize exceptional devotion to duty or acts of courage by Air Force personnel.

In 1994, the award was split into two categories: VM (Devotion to Duty) and VM (Gallantry).

The medal itself is a five-pointed star made of standard silver, with a diameter of 35 mm. It is mounted on a ring attached to a metal strip that is 3 mm wide and decorated with Ashoka leaves. The state emblem is embossed on the obverse side, in the center, surrounded by a garland of leaves. On the reverse side, there is a representation of the Himalayan Eagle with an inscription below it.

The monetary allowance attached to the award is Rs. 500 per month, which is given for courageous acts, effective from February 1, 1999.

About the Vishisht Seva Medal (VSM) :

Established on January 26, 1960, the Vishisht Seva Medal (VSM) is awarded to recognize outstanding and distinguished service.

Medal: The circular medal is made of bronze and measures 35mm in diameter. It is attached to a plain horizontal bar with standard fittings. The obverse of the medal displays a five-pointed star, while the reverse side features the State Emblem along with an inscription along the upper rim."

11. Karnataka Bags National Award For Pradhan Mantri Fasal Bima Yojana

Karnataka has won the national award for the best implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY), a crop subsidy insurance scheme, for the year 2022-23, making it the first state in India to do so.

The award ceremony took place at the national conference in Chhattisgarh on April 14, 2023, where Shivayogi C Kalasad, the Secretary to the government, Department of Agriculture, Karnataka, received the award.

During the kharif season between 2021 and 2022, the state of Karnataka recorded a 47.74% increase in the enrolment of farmers under the scheme, and the area covered under the scheme increased by 41.80%.

Note : The pending claims of Rs. 687.4 crore as on May 31, 2022 (since 2018) for 5.66 lakh farmers has been settled by the Department of Agriculture, Ministry of Agriculture and Farmers Welfare (MoA&FW) in a campaign mode.

Important :

(i) The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme initiated by the Government of India's Ministry of Agriculture and Farmers Welfare in 2016. Its aim is to offer complete coverage to farmers for losses or damage to crops resulting from natural calamities, pests, or diseases.

(ii) Karnataka has implemented the PMFBY scheme via its own portal named 'Samrakshane,' which was created by the state using the National Informatics Centre (NIC). In 2022-23, Karnataka was awarded the national award for the best implementation of the PMFBY scheme for the significant increase of 47.74% in the number of farmers enrolled and 41.80% increase in the coverage area under the scheme.

(iii) In 2022, the number of farmers enrolled for the PMFBY scheme in Karnataka increased by 47.74% to 23.86 lakh, while the extent of land insured under PMFBY in 2022 kharif was increased by 41.8% to 18.94 lakh hectares. For Kharif 2022 season, 5.60 lakh farmers whose fields were affected by natural calamities have already been compensated within 2022 with crop insurance claims settled is Rs 298.57 crore. For kharif 2023, the state has released an advance share of Rs 951 crore for the implementation of the PMFBY scheme.

12. JioCinema signs Rohit Sharma as brand ambassador

Rohit Sharma, the captain of the Indian Cricket Team and Mumbai Indians (MI), has been appointed as the brand ambassador of JioCinema, the official digital partner of the Indian Premier League (IPL) 2023-27.

Before signing with JioCinema, Rohit Sharma ended his association with Star Sports, the TV broadcast rights holder of the IPL.

JioCinema has previously partnered with players like Sachin Tendulkar, MS Dhoni, Suryakumar Yadav, and Smriti Mandhana as its ambassadors.

Rohit Sharma will collaborate with JioCinema to make sports viewing synonymous with digital through initiatives in line with their vision.

13. Odisha CM Naveen Patnaik launches India’s first heavy lift logistics drone

Odisha CM Naveen Patnaik inaugurated India's maiden eVTOL (electric Vertical Take-off and Landing) BonV drone for heavy-lift logistics during the "Odisha Skill Conclave 2023" on April 20, 2023. BonV Aero, a start-up from Odisha, designed the drone, which can carry up to 50 kg over distances of up to 10 km. It will be instrumental in disaster management, emergency evacuation, flood relief, firefighting, and delivering medical supplies to remote locations.

The heavy lift logistics drone BonV is supported by IIT Mandi in Himachal Pradesh, NITI Aayog, and AIC - CV Raman Global University in Odisha. BonV Aero is developing electric aerial vehicles for cargo delivery.

The successful trial of the 'RM001' Electric Aerial Vehicle carrying 50 kilograms of cargo was conducted at an altitude of 8000 to 10,000 feet in Tawang, Eastern Command of the Indian Army forward post in Arunachal Pradesh.

In its next phase, BonV Aero aims to develop its flagship platform 'RM002' that can transport 200 kilograms of freight over 40 kilometres.

The BonV drone offers various benefits, including :

(i) It can aid in disaster response efforts in Odisha, which is prone to cyclones and floods.

(ii) It can transport various types of cargo or goods quickly, especially in situations where surface logistics are unfavorable or time-consuming.

(iii) It can improve the accessibility and efficiency of logistics solutions, particularly in remote and hilly areas.

(iv) It is cost-effective.

14. Manipur CM N. Biren inaugurates 5th edition of Hun-Thadou cultural festival at Kangpokpi

The 5th edition of the Thadou Cultural Festival, HUN-2023, was inaugurated by Nongthombam Biren Singh, Chief Minister of Manipur, on April 18, 2023, at Thomas Ground in Kangpokpi district of Manipur. 

The festival is an annual cultural event celebrated by the Thadous community of Manipur, and it symbolizes the arrival of the new year. 

The two-day festival concluded on April 19, 2023, with the presence of Arjun Munda, Union Minister of Tribal Affairs, at the closing ceremony.

Banking and Finance News :

1. InPrime Finserv Received NBFC Licence from RBI

STK Credit Private Limited's subsidiary, InPrime Finserv, which provides financial services to the informal sector, has been granted a Non-Banking Financial Company (NBFC) license by the Reserve Bank of India (RBI) and issued a Certificate of Registration (COR).

Key notes :

(i) InPrime's goal is to revolutionize the way the informal sector accesses formal financial services.

(ii) The company is dedicated to serving the "Prime" segment of India's informal economy, comprising approximately 50 million households with an annual credit requirement of Rs. 5 lakh crores.

(iii) InPrime intends to empower its customers by offering multiple repayment channels and an engaging financial and digital literacy program that promotes self-service.

(iv) InPrime acknowledges the necessity for customized and improved financial services for the underserved Prime segment.

(v) InPrime is fostering financial inclusion in India by launching its operations in Bengaluru (Karnataka) initially and gradually expanding to other regions of Karnataka and Tamil Nadu.

2. CoRover, LIC Collaborate to Launch 1st Phase of AI virtual assistant LIC Mitra 

Bengaluru-based startup CoRover has partnered with Life Insurance Corporation of India (LIC) to introduce the first phase of LIC Mitra, a conversational AI-powered chatbot designed to improve LIC's customer service by automating real-time responses to customer inquiries.

Features of LIC Mitra include :

(i) The CoRover.ai-developed chatbot will be accessible on both LIC's website and mobile app, leveraging technologies such as AI, Machine Learning (ML), and Natural Language Processing (NLP) to comprehend and respond to users' inquiries in multiple languages. The LIC Mitra technology also allows users to search using voice commands.

(ii) Questions about LIC products, past premiums paid, upcoming premiums, policy maturity dates, and insurance can be answered using the chatbot.

(iii) Existing customers can use LIC Mitra to check their policy's latest status and receive information such as premium due dates and policy maturity dates. Additionally, customers can utilize the chatbot to determine their first unpaid premium.

3. AIIB to Open First Overseas Office in Abu Dhabi, UAE

The Asian Infrastructure Investment Bank (AIIB) has signed a host member agreement with the United Arab Emirates (UAE) on April 19, 2023, marking the establishment of its first overseas office, an Interim Operational Hub, at Abu Dhabi Global Market, Abu Dhabi, UAE.

During the signing ceremony in Abu Dhabi, the agreement was signed by Jin Liqun, President and Chair of the Board of Directors of AIIB, and His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and UAE Governor of AIIB.

This agreement aligns with the UAE's commitment to strengthen collaboration with international organizations and institutions that are dedicated to promoting sustainable economic development in developing nations.

Key notes :

(i) AIIB is opening an Interim Operational Hub in Abu Dhabi, UAE due to its rapid growth.

(ii) The Hub aims to bring the bank closer to clients and improve engagement with them.

(iii) It will support AIIB's development agenda and finance infrastructure projects for sustainable economic growth.

(iv) The Hub will manage the bank's investment portfolio and enhance project monitoring and implementation services worldwide.

(v) AIIB's proximity to global financial centers and the international infrastructure ecosystem will give it an edge in the market.

4. CRED launches P2P UPI payments on its app

On April 17, CRED launched a UPI-based Peer-to-peer P2P payments system with the introduction of Scan & Pay.

CRED customers can make secure, instant payments to other users via UPI IDs or contact numbers.

The new system offers several features, such as payment reminders for recurrent transactions, proactive nudges during risky payment scenarios, and custom VPAs to protect privacy.

CRED Protect is a feature that prompts members to use a system-generated alias UPI ID to mask personal details like mobile numbers.

The WIN-WIN feature rewards both the payer and recipient of payments made to 'special contacts' with cashbacks credited to their CRED balance.

CRED offers a variety of payment methods, including bill payments, scan-and-pay, tap-to-pay, UPI P2P, CRED Pay, and CRED flash for online merchants. 

5. Union Bank of India Secures 1st Rank in EASE Reforms Index for Q3 FY23

The Indian Banks' Association (IBA) published a report on April 20, 2023, regarding the Enhanced Access & Service Excellence (EASE) Reforms Index for Q3 FY23.

Union Bank of India has secured the first position among all Public Sector Banks (PSBs) for the first time by adopting various reforms prescribed for PSBs.

EASE is an initiative of the Department of Financial Services (DFS), Ministry of Finance, under its 5th iteration, which focuses on Enhanced Digital experience, Data-driven, Integrated, and Inclusive Banking, as part of the PSB Reforms Agenda.

Union Bank of India's performance :

(i) Under the EASE 5.0 framework, PSBs are evaluated on 5 themes, and Union Bank of India secured 1st rank among PSBs for adopting various reforms prescribed under 4 themes. These themes include 'Digitally-enabled customer offerings', 'Big data and analytics', 'Modern Technology Capabilities', and 'Employee development and Governance'.

(ii) The bank excelled in areas such as building analytics capabilities for retaining and deepening customer relationships, effective credit monitoring, comprehensive digital collection management system, fraud resilience, and cyber security.

(iii) Union Bank of India also focuses on adopting modern technology capabilities for providing an integrated banking experience, customer-centric digital offerings, and implementing better governance measures, which has helped the bank to maintain its momentum.

6. SEBI Approved – Emkay Global to Sponsor MF Business & Nexus Select Trust for REIT IPO

Emkay Global Financial Services has been granted in-principle approval by the Investment Management Department of the Securities and Exchange Board of India (SEBI) to establish a Mutual Fund business and incorporate an Asset Management Company (AMC).

Established in 1995, Emkay Global Financial Services currently provides a range of services including equity broking, commodity broking, currency broking, lending, depository participant, portfolio/wealth management services, investment banking and global investing.

Currently, there are 44 MF players with total assets under management of about Rs 40 lakh crore with top 10 players accounting for major share of business.

Bajaj Finserv recently obtained a full-fledged Mutual Fund (MF) license and has filed papers to launch seven new fund offers.

In 2021, SEBI granted in-principle approval to Nitin Kamath-led Zerodha Broking and Frontline Capital Services to enter the MF business.

7. IndusInd Bank signs USD100mn agreement with JBIC to provide Credit Facilities to Japanese OEMs in India

On April 19, 2023, IndusInd Bank entered into a long-term credit agreement of USD 100 million with Japan Bank for International Cooperation (JBIC) to provide support to Indian companies interested in buying Japanese construction equipment.

The loan agreement was signed by the IFSC Banking Unit (IBU) of IndusInd Bank's GIFT City branch. This marks the first time JBIC has provided such lending through any IFSC Banking unit at GIFT City.

Mizuho Bank of Japan, Shizuoka Bank of Singapore, and Joyo Bank of Japan will also co-finance this facility.

Objective :

To foster the growth of Japanese construction equipment companies in India through need-based credit facilities.

Key notes :

(i) The agreement is aligned with the objective of the International Financial Services Centres Authority (IFSCA) to establish GIFT City as a hub for raising long-term finance.

(ii) IndusInd Bank will utilize the funds to provide need-based lending facilities to support the growth of Japanese Original Equipment Manufacturers (OEMs) in India. The program will initially cater to the financing requirements of component suppliers, dealers, and final buyers of construction machinery manufactured by selected Japanese OEMs.

(iii) IndusInd Bank's Commercial Vehicle Finance division is a prominent financier of Japanese OEMs in India and plans to strengthen its market share by targeting component suppliers and dealers who are part of the upstream and downstream supply chain of these OEMs.

8. Fasal Partners with SBI to Support Farmers to Get Easy Financial Access

Fasal, an agriculture technology company, announced its collaboration with State Bank of India (SBI) on April 13, 2023, to offer farmers prompt and easy access to financial resources.

The objective of the partnership is to empower farmers to efficiently finance and manage immediate agricultural input requirements while utilizing Fasal's technology solutions to make farming more precise and predictable. The alliance will aid farmers in overcoming cash flow constraints during critical farming cycles by offering prompt, hassle-free, and collateral-free loans at highly competitive rates.

Fasal aims to address various issues across the horticulture value chain and pave the way for India's horticultural transformation through the partnership.

Financial Offering :

(i) The partnership between Fasal and State Bank of India will provide farmers with access to collateral-free loans up to INR 3 lakhs.

(ii) The loans will be provided under the Kisan Credit Card (KCC) scheme, which is well-known for its low interest rate within the farmer credit support system. If a farmer has already exhausted their KCC limit, SBI will offer these financing solutions through other agriculture schemes.

(iii) Initially, the financial offering from Fasal will be available in Maharashtra, Karnataka, Chhattisgarh, and Madhya Pradesh, with plans to expand to other regions in the future. This solution will help farmers manage their cash-flow constraints during key cycles in farming, and enable them to adopt Fasal's technology solution to make their farming more precise and predictable.

9. RBI Granted AD Category-I Licence to AU SFB, Equitas SFB to Deal in Foreign Exchange

AU Small Finance Bank (SFB) has been granted an Authorised Dealer (AD) category-I licence by the Reserve Bank of India (RBI) on 19th April 2023, under Section 10 of the Foreign Exchange Management Act, 1999, which allows the bank to deal in foreign exchange. 

The approval is subject to the bank's adherence to relevant regulations. With the licence, AU Small Finance Bank will be able to introduce a variety of foreign currency-related products to serve the importer-exporter sector and conduct inward and outward remittances.

10. RBI accepts Rs 5,500 crore Bids at Switch and Conversion Auction of Government Bonds

On April 17, 2023, the Reserve Bank of India (RBI) accepted bids worth Rs 5,500 crore at an auction for the switching and conversion of 5 Government of India (GoI) bonds, out of the notified amount of Rs 11,000 crore.

The bids for the floating rate bond (FRB) expiring in 2024, which will be converted into the paper to be redeemed in 2032, were accepted at Rs 2,000 crore, against the notified amount of Rs 4,000 crore.

11. RBI Approves Appointment of Kaizad Bharucha as Dy MD & Bhavesh Zaveri as ED at HDFC Bank

Kaizad Bharucha and Bhavesh Zaveri have been appointed by the Reserve Bank of India (RBI) as Deputy Managing Director (DMD) and Executive Director (ED), respectively, of HDFC Bank Limited, one of India's leading private sector banks, for a term of three years starting from 19th April 2023. The recommendation for their redesignation was made by HDFC Bank's Board of Directors to the RBI on 24 November 2022.

This is to be noted that Kaizad Bharucha was already working as the Executive Director of HDFC Bank before being appointed as Deputy Managing Director by the Reserve Bank of India. Similarly, Bhavesh Zaveri was previously serving as the Group Head of Operations, Cash Management, and ATM Products at HDFC Bank before being appointed as an Executive Director by the RBI.

12. Federal Bank inks Banking Correspondent Agreement with Agri fintech KiVi

In April 2023, the Federal Bank partnered with Kisan Vikas (KiVi), an agriculture fintech start-up based in Chennai, through a Banking Correspondent agreement to expand its agriculture lending portfolio in Tamil Nadu.

Aravind K, the Vice-President of Agri-business at Federal Bank, and Joby CO, the Founder and CEO of KiVi, exchanged an agreement to appoint KiVi as the Banking Correspondent for Federal Bank.

Other News :

1. Zimbabwe Cricketer Gary Ballance retires from All Forms of Cricket

Gary Ballance, a former Zimbabwean cricketer who had also represented England from 2014 to 2017 and later represented Zimbabwe in 2022-2023, has retired from all forms of professional cricket immediately.

Ballance started his cricket career by debuting in the 2006 Under-19 World Cup for Zimbabwe, where Zimbabwe won against England. In his international cricket career, he played 23 Test matches, scoring 1498 runs at an average of 37.45, including four 100s and seven 50s.

During his stint with England, he played 42 times in all three formats, including 23 Test appearances, averaging 37.45. He also set a record by becoming the third-fastest England Test cricketer to reach 1,000 runs after Herbert Sutcliffe and Len Hutton.

In late 2022, Ballance signed a two-year contract with Zimbabwe Cricket and played five ODIs, one T20I, and one Test match during his comeback. He also became the second player after Kepler Wessels to score Test centuries for two different countries, with his only Test hundred for Zimbabwe in February 2023.

2. Virginia Tower Norwood, the Mother of LandSat, Passed Away

Virginia Tower Norwood, an American aerospace engineer, inventor, and physicist who was a founding figure in the field of satellite land imaging, passed away on March 26, 2023, at the age of 96 in Topanga, California, USA. She was known as "The Mother of Landsat" for her pioneering work in the field.

Norwood began her career by working on weather radar at the U.S. Army Signal Corps Laboratories in Fort Monmouth, New Jersey. Later, she spent 36 years at Hughes Aircraft Company, where she worked on various projects such as antenna design, communications links, optics, and Landsat scanners.

She is credited with inventing the scanner that has been used for more than 50 years to map and study the Earth from space. Norwood also oversaw the development of Landsat 2, 3, 4, and 5.

In a 2020 biographical article published by the National Aeronautics and Space Administration (NASA), Virginia Norwood was referred to as "The Mother of Landsat," highlighting her invaluable contributions to the field of satellite land imaging.

3. 16th National Civil Services Day – 21st April 2023

Every year on April 21st, India celebrates National Civil Services Day to acknowledge and appreciate civil service officers who work in various public service departments throughout the country. The day serves as a reminder for public servants to work collectively and with dedication to serve the citizens of India.

In 2023, the 16th National Civil Services Day will be observed on April 21st. The theme for this year's celebration is "Viksit Bharat: Empowering Citizens and Reaching the Last Mile", which emphasizes the importance of empowering citizens and providing public services to the last mile.

4. World Creativity and Innovation Day 2023 - 21st April

Every year on April 21st, people and organizations in over 50 countries around the world observe the United Nations' World Creativity and Innovation Day. The day serves as a reminder of the importance of creativity and innovation in all areas of human development.

The first World Creativity and Innovation Day was observed on April 21st, 2002. In 2017, the United Nations General Assembly (UNGA) adopted resolution A/RES/71/284, officially designating April 21st as World Creativity and Innovation Day.

Since then, the day has been celebrated annually as a UN-recognized event, with the first official observance taking place on April 21st, 2018. Its purpose is to raise awareness of the crucial role creativity and innovation play in shaping a better future for all.

Importance : Creativity and innovation are important because they can stimulate economic growth, create jobs, and provide opportunities for everyone, including women and youth. They also account for 3.1% of the global GDP and 6.2% of employment. According to the UN, the value of exports of cultural goods and services has doubled since 2005, reaching USD 389.1 billion in 2019.

World Creativity and Innovation Week (WCIW) : World Creativity and Innovation Week (WCIW) is celebrated globally from 15th to 21st April every year since 2001, to inspire new ideas and create better futures. The observance starts on 15th April, the birth anniversary of Leonardo da Vinci, and culminates on 21st April, which is celebrated as World Creativity and Innovation Day. WCIW 2023 was celebrated from 15th to 21st April 2023.

News360 - 21st April , 2023 | Daily Current Affairs

National and International News :

1. Cabinet approves National Quantum Mission to scale-up Scientific & Industrial R&D for QT

India's National Quantum Mission (NQM) has received approval from the Union Cabinet, with a budget of Rs. 6003.65 crore for a duration of eight years, starting from 2023-24 to 2030-31. This move will propel India to join the ranks of the top six nations, namely the United States of America (USA), Canada, China, France, Austria, and Finland, who are actively engaged in Research and Development (R&D) in Quantum Technology (QT).

The NQM aims to achieve the following objectives :

(i) To foster scientific and industrial R&D in QT and facilitate its growth

(ii) To establish a dynamic and innovative ecosystem in QT

(iii) To position India as a leading nation in the development of Quantum Technologies and Applications (QTA).

Aim : 

The mission aims to develop intermediate scale quantum computers with 50-1000 physical qubits in 8 years and satellite-based secure quantum communication over 2000 km within India, long-distance secure quantum communications with other countries, inter-city quantum key distribution over 2000 km, and multi-node Quantum network with quantum memories.

Key notes :

The mission will be overseen by the DST, MoST, led by a Mission Director, with a mission secretariat and governing body comprised of quantum scientists. The Mission Technology Research Council will serve as the scientific advisory body for the governing body.

2. Chief minister of Haryana , Manohar Lal Khattar announces 3 Services to Digitally Empower Beneficiaries

Haryana's CM, Manohar Lal Khattar, has introduced three new online services on April 19, 2023, to digitally empower beneficiaries. These services are:

(i) 'Pro-active Divyang Pension Service,' 'Tau se pucho,' and an online room booking facility at PWD rest houses.

(ii) 'Pro-active Divyang Pension Service' will provide automated pension benefits for Persons with Disabilities(PwDs). PwDs with more than 60% disability will have their data available on the Parivar Informatics Data Repository, which will be certified by the Haryana Parivar Pehchan Authority monthly.

(iii) 'Tau se pucho' is a bilingual WhatsApp and web-based Chatbot solution developed by the Haryana Parivar Pehchan Authority (PPP) to provide quick responses to people's queries.

3. SATHI: Union Agriculture Minister Narendra Singh Tomar launches Seed Traceability Portal and Mobile App

The Union Minister of Agriculture & Farmers Welfare (MoA&FW), Narendra Singh Tomar, launched the first phase of the SATHI (Seed Traceability, Authentication and Holistic Inventory) portal and mobile application on April 19, 2023. The centralized online system aims to address seed production challenges, seed quality identification, and certification under the theme of Uttam Beej – Samriddh Kisan.

Objective : 

To prevent the sale of fake seeds that hinder agricultural growth, cause losses to farmers, and ensure that only high-quality seeds are made available to farmers.

Key points :

The portal is a comprehensive platform that encompasses seven verticals of the seed chain: Research Organization, Seed Certification, Seed Licensing, Seed Catalogue, Dealer-to-Farmer Sales, Farmer Registration, and Seed DBT (Direct Benefit Transfer). 

The platform will provide quality assurance, identify the source of seeds, and offer direct subsidies to registered farmers' bank accounts. 

Only licensed dealers with valid certification can sell seeds to farmers who are centrally registered. Farmers will receive the subsidy through DBT directly into their pre-validated bank accounts. 

The system has a QR (Quick Response) code that enables seed tracing. All states are encouraged to join the seed traceability system, and training will be provided through the Indian Council of Agricultural Research (ICAR), Krishi Vigyan Kendras, and State Governments to increase awareness and ensure farmers receive full benefits.

4. Cabinet approves Cinematograph Amendment Bill 2023, aims to tackle problem of film piracy

The Ministry of Information and Broadcasting's (MIB) proposed Cinematograph Amendment Bill, 2023 to amend the Cinematograph Act, 1952, was approved by the Union Cabinet. The bill will be introduced during the Monsoon Session of Parliament. The proposed amendments aim to make the certification process more effective and in line with current times.

The proposed Cinematograph Amendment Bill, 2023 aims to tackle three main issues :

(i) Enhancing the certification process of films by the Central Board of Film Certification (CBFC) and its categorization.

(ii) Addressing unauthorized recording and exhibition of films to prevent piracy.

(iii) Harmonizing the law with existing executive orders, Supreme Court judgments, and other relevant legislation.

Key points :

The Cinematograph Amendment Bill, 2023 proposed by the Ministry of Information and Broadcasting was approved by the Union Cabinet. The bill aims to address three issues: improving the certification process, curbing film piracy, and harmonizing the law with extant executive orders, Supreme Court judgements, and other relevant legislations.

Key amendments include strict penalties to stop film piracy, age-based certification, aligning with Supreme Court judgments, perpetual validity of certificates, and recertification of edited films for television broadcast. The bill sub-divides the existing UA category into three age-based categories and allows for perpetual validity of CBFC certificates. It also removes the restriction on validity of certificates for only 10 years and requires recertification of edited films for television broadcast.

5. IT Roorkee signs MoU with Taiwan’s NCDR to Develop Tech Solutions for Earthquakes & Floods

A Memorandum of Understanding (MoU) was signed between the Indian Institute of Technology Roorkee (IIT Roorkee), Uttarakhand, and the National Science and Technology Centre for Disaster Reduction (NCDR), Taiwan, to collaborate on developing technology solutions for natural hazards such as earthquakes, landslides, floods, debris flow, and compound disasters. 

The agreement was signed during a visit by NCDR scientists and faculty members, including Dr Hongey Chen, the director of NCDR. 

The MoU aims to promote scientific and academic cooperation and research to enhance relations and mutual understanding between NCDR and the Centre of Excellence in Disaster Mitigation and Management (CoEDMM) of IIT Roorkee. 

Researchers from both institutes plan to co-establish an early warning sensor network equipped with P-Alert sensors at selected locations in Uttarakhand.

6. World’s 1st Smart Gun: Biofire Technologies Unveils Biometric Identification to Prevent Misuse

Biofire Technologies, a Colorado-based gun-making company, has recently launched the world's first smart gun, the "Biofire Smart Gun". This 9mm handgun is secured with fingerprint and facial recognition biometrics, allowing only the verified shooter to fire it. 

Its design aims to prevent unauthorised access and usage, particularly by children and criminals. The advanced technology used in the smart gun limits access to only the owner and individuals who have been properly authorised by the owner. 

Biofire's founder, Kai Kloepfer, hopes that this technology can help lower the suicide rate and reduce the number of accidental deaths caused by firearms in the United States.

7. Cuban President Miguel Diaz-Canel re-elected for second term

Miguel Diaz-Canel was re-elected as the President of Cuba for a second term by the National Congress on April 19, 2023. This comes at a time when Cuba is experiencing one of the most significant economic and social crises since the 1959 revolution led by Fidel Castro.

Key points :

(i) Miguel Díaz-Canel, leader of the Communist Party, won a 97.66% vote in the Cuba-aligned National Assembly for a second term as President.

(ii) Díaz-Canel became President in 2018 and First Secretary in 2021 of the Cuban Communist Party, succeeding Raul Castro in both roles.

(iii) Díaz-Canel is the first non-Castro leader of Cuba and was born after the 1959 revolution, but Raul Castro still holds the position of Army General and a seat in the National Assembly.

(iv) Salvador Valdes Mesa was re-elected as Cuba's vice-president, Esteban Lazo was re-elected as the president of the National Assembly of People's Power (ANPP), and Manuel Marrero Cruz was re-appointed as the Prime Minister.

(v) Under Cuban law, a president cannot serve more than two successive terms. 

Miguel Díaz-Canel's professional background and political career :

Miguel Díaz-Canel was designated as the Minister of Higher Education in May 2009.

He was then appointed as the Vice President of the Council of Ministers in March 2012, which made him the deputy prime minister.

In 2013, he was also selected as the First Vice President of the Council of State, where he served as the deputy to Raúl Castro, the President of Cuba at that time.

About Cuba :

Capital : Havana

President : Miguel Díaz-Canel

Currency : Cuban Peso (CUP also known as moneda nacional)

Banking and Finance News :

1. Indian Banks’ Association (IBA) Constituted 4-Member Working Group on ARCs

The Indian Banks’ Association (IBA) has formed a working group consisting of four members to address various issues related to Asset Reconstruction Companies (ARCs) and submit a report to the IBA, RBI (Reserve Bank of India), and the Union government. 

The members of the working group are :

(i) Hari Hara Mishra, Secretary of the Association of ARCs in India

(ii) Purshotam Agarwal, Chief Investment Officer of National Asset Reconstruction Company Limited (NARCL)

(iii) Mythili Balasubramanian, Executive Director of Edelweiss

(iv) Tarun Kumar, Director of Encore Asset Reconstruction Company

About Asset Reconstruction Companies (ARCs) :

It is a financial institution (FI) that buys the NPAs (Non-Performing Assets) or bad loans from banks and FI and helps them to recover from the NPAs. They are registered under RBI and regulated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002.

2. RBL Bank launches Unique Digital FD Scheme for New-to-Bank Customers

RBL Bank has launched a new Digital Fixed Deposit (FD) Scheme for new-to-bank customers on April 18, 2023. The scheme offers an interest rate of up to 7.8% and has a term ranging from 15 months to 725 days. Customers can book the Digital FD within a few minutes without having to visit a branch or open a savings account with the Bank. 

Some important points to note about the scheme are :

(i) It offers additional benefits such as embedded insurance cover, a seamless savings account opening process, and the ability to track and manage the FD digitally.

(ii) FD holders can opt for insurance cover under a Hospital Daily Cash Benefit policy, which offers daily cash benefits for hospital expenses.

(iii) The Digital FD uses a quick online KYC (Know Your Customer) process, making it easy and hassle-free for customers to open an FD within minutes.

3. SIB introduces 2 Savings Accounts for NRIs – SIB SEAFARER & SIB PULSE

South Indian Bank (SIB) introduced two new saving products for non-resident Indian (NRI) customers on April 18, 2023. The products are called SIB SEAFARER and SIB PULSE and are designed for mariners and healthcare professionals, respectively. These new saving products allow NRIs to maintain either the minimum balance in their savings account or term deposits.

Both SIB SEAFARER and SIB PULSE savings accounts have the following features :

(i) Free and unlimited debit card transactions, NEFT (National Electronic Funds Transfer)/ RTGS & DD / PO.

(ii) Free international debit card, SMS & internet banking services.

4. SBI Board Approves to Raise USD 2 Billion Via Long-Term Debt

On April 18, 2023, the State Bank of India (SBI) approved the examination of the status of long-term fund-raising in single or multiple trenches up to USD 2 billion (about Rs 16,000 crore) under Reg-S/144A, through Public Offer and/or private placement of senior unsecured notes in USD or other convertible currency during FY2023-2024. 

SBI plans to raise USD 2 billion through foreign currency bonds in 2023-2024 in single or multiple tranches to augment additional Tier 1 capital and the overall capital base and to strengthen capital adequacy according to Reserve Bank of India (RBI) guidelines.

The Executive Committee of the Central Board of SBI, a public sector lender, made this decision. In March 2023, SBI raised Rs 3,717 crore through an additional tier 1 bond sale. 

This was SBI's 3rd Basel III compliant additional tier 1 (AT1) bond sale, and the latest issue closed at a coupon rate of 8.25%.

5. TNeGA signs MoU with Indian Bank for Payment Aggregator Services

On 18th April 2023, Indian Bank, a public sector bank, signed a Memorandum of Understanding (MoU) with the Tamil Nadu e-Governance Agency (TNeGA), a State Nodal Agency under the Information Technology and Digital Service (IT&DS) Department of the Government of Tamil Nadu (TN). 

The MoU aims to integrate Payment Aggregator for e-Governance Application of various departments in Tamil Nadu (TN). The signing ceremony was attended by T. Mano Thangaraj, Minister for IT&DS Tamil Nadu, and Mahesh Kumar Bajaj, Executive Director of Indian Bank.

Important :

(i) The Memorandum of Understanding (MoU) signed between the Tamil Nadu e-Governance Agency (TNeGA) and Indian Bank provides a plug-and-play platform for all government departments to address their payment-related needs.

(ii) Indian Bank's Payment Aggregator platform will deliver timely and cost-effective solutions to government departments, ensuring a seamless payment experience for citizens and businesses.

(iii) By facilitating easy access, transparency, and quick service delivery, this MoU will support one of the TN government's top priorities.

(iv) The bank's payment aggregator service will function as a one-stop solution for all payment collection requirements of various TN government departments.

This payment aggregator solution platform facilitates an integrated payment mechanism for online transactions through aggregation and reconciliation services with multiple payment channels, including debit/credit cards, UPI, payment wallets, net banking, e-challans, and e-UPI.

Other News :

1. UN Chinese Language Day 2023 - 20th April

The United Nations (UN) annually observes the Chinese Language Day on April 20 to celebrate the Chinese language and promote the equal use of all six official languages within the organization. On April 20, 2023, the UN celebrated the 13th annual Chinese Language Day under the theme "Chinese Wisdom for a Green World."

The Chinese Language Day is significant as it commemorates the contribution of Cangjie, a mythical figure credited with inventing Chinese characters and being the official historian of the Yellow Emperor in ancient China. The day serves to recognize the importance of Chinese language and culture in the world.

Key points :

The Indian Army has signed an MoU with Tezpur University in Assam on April 19, 2023, to provide Chinese language training for its personnel. The course, which will last for 16 weeks, will be conducted at Tezpur University. The agreement was signed by HQ 4 Corps and the Registrar of the university in the presence of Vice Chancellor Professor S N Singh .

The language course offered by Tezpur University to the Indian Army personnel has the following benefits :

(i) It will enhance the Mandarin proficiency of military personnel, enabling them to communicate effectively with their Chinese counterparts whenever required.

(ii) Improved Chinese language skills will empower the army personnel to convey their thoughts and ideas in a more convincing manner.

(iii) The course will facilitate better comprehension of the Chinese PLA's perspective and worldview during various interactions such as Commander Level Talks, Flag Meetings, Joint Exercises, Border Personnel Meetings, and others. It will also lead to better exchange of ideas.