Daily Current Affairs – April 04, 2023
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Daily Current Affairs - Banking - April 04, 2023
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International News
India, Malaysia can now trade in Indian rupee
- India and Malaysia can now settle trade in Indian rupee (INR) in addition to other currencies, according to the Ministry of External Affairs.
- The decision follows Reserve Bank of India (RBI) approval last year for international trade settlements in INR.
- The move aims to support trade growth, with Kuala Lumpur’s India International Bank of Malaysia having opened a Rupee Vostro account with India’s Union Bank of India to facilitate the INR settlements.
- Malaysia – Kuala Lumpur (Capital) – Ringgit (Currency) – Abdullah (Monarch) – Anwar Ibrahim (Prime Minister) – Malay (Language)
State News
Himachal Pradesh to collaborate with Centre to promote lavender cultivation
- The Himachal Pradesh government is all set to collaborate with the Union government on the ”Aroma Mission”, a lavender cultivation initiative that has proven to be a boon for farmers in Jammu and Kashmir.
- Himachal Pradesh – Shimla (Summer), Dharamshala (Winter) (Capital) – Sukhvinder Singh Sukhu (CM) – Shiv Pratap Shukla (Governor) –Hindi (Language)
Schemes
Around four lakh loans provided to minority street vendors under PM SVANidhi scheme
- The government said 42.7 lakh loans amounting to over five thousand crore rupees have been disbursed to 34.47 lakh street vendors under Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme in the country till 23rd of March 2023.
- He said around four lakh loans were provided to minority street vendors under the scheme.
- Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched on 01/06/2020.
- Ministry of Housing & Urban Affairs launched the scheme to empower Street Vendors by not only extending collateral free loans to them, but also for their holistic development and economic upliftment.
- The scheme intends to facilitate collateral free working capital loans of up to INR10,000/- of one-year tenure.
- It provides interest subsidy @ 7% per annum on regular repayment of loan and cashback upto INR1200/- per annum on undertaking prescribed digital transactions.
- Ministry of Housing and Urban Affairs – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Kaushal Kishore, Minister of State (Mohanlalganj,UP)
26 IAF airports identified under UDAN for operation of flights
- Civil Aviation Minister Jyotiraditya Scindia informed that twenty-six Indian Air Force (IAF) airports have been identified under Ude Desh ka Aam Nagrik (UDAN) for the operation of flights under the scheme so far.
- He said out of these UDAN flight operations from 17 IAF airports (civil enclaves) have already commenced.
- Prime minister Narendra Modi launched the scheme on 27 April 2017 by flagging off the inaugural regional flights between Delhi and Shimla, and also between Kadapa-Hyderabad-Nanded.
- Ude Desh ka Aam Naagrik – (Let the common citizen of the country fly.)
- Ministry of Civil Aviation – Jyotiraditya Scindia,Union Minister (Rajya Sabha MP,MP) – General Vijay Kumar Singh,Minister of State
Finance Ministry launches 3-month campaign to boost micro-insurance schemes at Gram Panchayat level
- To achieve saturation under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), the Finance Ministry launched a three-month campaign.
- A special 3 months campaign has been launched by DFS at Gram Panchayat Level covering all districts in the country to saturate all eligible persons under the PMJJBY and PMSBY w.e.f 1st April 2023 to the 30th June 2023.
- The PMJJBY offers life insurance cover of Rs 2 lakh in case of death due to any reason to people in the age group of 18-50 years having a bank or post office account, who give their consent to join or enable auto-debit of premium was launched on 09/05/2015.
- The PMSBY offers insurance cover of Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability to people in the age group of 18-70 years with a bank or post office account, who give their consent to join or enable auto-debit of premium was launched on 09/05/2015.
Banking and Finance
Unclaimed deposits of Rs 35,012 cr with PSU banks transferred to RBI: MoS Finance
- About Rs 35,000 crore unclaimed deposits as of February 2023 were transferred to the Reserve Bank by public sector banks (PSBs) in respect of deposits which have not been operated for 10 years or more.
- These unclaimed deposits belong to 10.24 crore accounts transferred to the Reserve Bank of India (RBI) as of the end of February 2023.
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
ATM cassette-swaps to start in June as cash refills go contactless
- The stage is set for the loading of cash into automated teller machines (ATMs) through the cassette-swap mode with an initial four-phased roll-out across 30 cities from June 1.
Axis Bank launches business management solution for merchants
- Axis Bank in partnership with Visa launched an app that will empower merchants to accept payments through various digital modes and also enable them to manage their day-to-day business digitally.
- The app ‘Digital Dukaan’ has been specifically designed to address business requirements such as accepting digital payments, inventory management and billing, among others.
- This Android Smart POS application has an in-built camera with LED flashlight that will enable scanning of product barcodes, allow tap and pay option for transactions up to Rs 5,000 and also support other value-added services such as EMI, acceptance of Sodexo card, Buy Now Pay Later, etc, it said.
- Digital Dukaan will also enable merchants to set up an online store and grow their business effortlessly by creating new channels.
- Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)
Business and Economy
FY24 procurement target through GeM likely to set at Rs 2.5 trillion
- The Centre is eyeing Rs 2.5 trillion worth of procurement through its government e-marketplace (GeM) portal in the ongoing financial year, a 25% jump from the Rs 2 trillion mark attained in financial year 2023.
Manufacturing PMI at 3-month high of 56.4 in March as input costs decline
- India’s purchasing managers’ index (PMI) for manufacturing in March increased to a three month high of 56.4, from 55.3 in February, as input costs declined and output expanded.
- PMI or a Purchasing Managers’ Index (PMI) is an indicator of business activity — both in the manufacturing and services sectors.
- It is a survey-based measures that asks the respondents about changes in their perception of some key business variables from the month before.
- Started in 1948 by the US-based Institute of Supply Management, the Purchasing Managers’ Index, or PMI, has now become one of the most closely watched indicators of business activity across the world.
Acquisitions and Mergers
Adani Ports completes acquisition of Karaikal Port
- Adani Ports and Special Economic Zone Ltd (APSEZ) has completed the acquisition of Karaikal Port Pvt Ltd (KPPL) pursuant to National Company Law Tribunal (NCLT) approval.
- Adani arm will pay Rs 1,485 crore ($181 million) to financial creditors.
- Adani Ports will spend further Rs 850 crore over time to upgrade infrastructure in order to reduce the logistics cost for the customers.
- Adani Ports and Special Economic Zone Ltd (APSEZ) – 26/05/1998 (Founded) – Ahmedabad (HQ) – Gautam Adani (Chairman & MD)
LIC raises stake in Bata India to 5.008% from 4.472%
- Life Insurance Corporation of India has purchased 6.88 lakh shares of Bata India for about ₹108 crores taking its stake of the paid-up capital in the company from 4.472% to 5.008%.
- Apart from LIC, HDFC Life Insurance Company and ICICI Prudential Insurance Company held 2.21% and 1.19% stakes in Bata India as of the December quarter.
- Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)
Appointments
RBI appoints Neeraj Nigam as executive director
- The Reserve Bank of India appointed Neeraj Nigam as executive director (ED) who will look after four departments, including that of consumer education and protection.
- Prior to being promoted as ED, he was heading the Bhopal regional office of the RBI as director.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Master Blaster Sachin Tendulkar becomes the world’s first ‘Hand Ambassador
- Savlon Swasth India Mission roped in master blaster Sachin Tendulkar as the world’s first ‘Hand Ambassador’.
- While the brand coined this special term to catch the imagination of the public at large, the fundamental thought behind this campaign was to reinitiate the conversation around hand hygiene all over again with the masses for a healthier nation.
SpiceJet’s Ajay Singh takes over as ASSOCHAM President
- SpiceJet chief Ajay Singh has taken over as President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
- Singh replaces Sumant Sinha, the Managing Director of Renew Power who has completed his tenure at the chamber.
- Sanjay Nayar, the Founder and Chairman of Sorin Investment Fund is the new Senior Vice-President of ASSOCHAM.
- Associated Chambers of Commerce and Industry of India (ASSOCHAM) – 1920 (Founded) – New Delhi (HQ) – Ajay Singh (President)
Sports News
Madrid Spain Masters 2023
Madrid Spain Masters 2023 | ||
Category | Winner | Runner |
Women’s Single | Gregoria Mariska Tunjung (Indonesia) | PV Sindhu(India) |
Men’s Single | Kenta Nishimoto(Japan) | Kanta Tsuneyama(Japan) |
Women’s Doubles | Liu Sheng Shu & Tan Ning(China) | Chen Fang Hui & Du Yue(China) |
Men’s Doubles | He Ji Ting & Zhou Hao Dong (China) | Lee Fang-Chih & Lee Fang Jen(Chinese Taipei) |
Mixed Doubles | Mathias Christiansen & Alexandra Bøje(Denmark) | Praveen Jordan & Melati Daeva Oktavianti(Indonesia) |
Important Days
International Children's Book Day (ICBD)
- International Children’s Book Day is annually observed on April 02.
- The Day was celebrated since April 2, 1967, which is also known as the birthday of Hans Christian Andersen, a Danish author famous for his fairy tales that include “The Ugly Duckling,” “The Little Mermaid,” and “Thumbelina.”
Prevention of Blindness Week
- The Prevention of Blindness Week campaign is planned by the Government of India which is held from 1st to 7th April for increasing the awareness towards the blind people.
- Prevention of Blindness Week was first started by the Jawaharlal Nehru and Raj Kumari Amrit Kaur in the year 1960 under the Societies Registration Act of 1860.
- Theme – “The Right to Sight”.
5th Poshan Pakhwada
- The Women and Child Development Ministry will celebrate the 5th Poshan Pakhwada from 20th March to 3rd April 2023 with various activities nationwide.
- It aims to raise awareness about the importance of nutrition and promote healthy eating habits through Jan Andolan and Jan Bhagidari.
- Prime Minister Narendra Modi launched Poshan Abhiyaan on the 8th of March 2018, which is instrumental in ensuring people’s participation and bringing the discourse on nutrition to the forefront.
- The theme of this year’s Poshan Pakhwada 2023 is “Nutrition for All: Together Towards a Healthy India”.
- With the declaration of 2023 as the International Year of Millets, this year the focus of Poshan Pakhwada will be to popularise Shree Anna– the mother of all grains, as a valuable asset to address malnutrition.
- Ministry of Women and Child Development – Smriti Zubin Irani,Union Minister (Amethi,UP) – Dr. Mahendra Munjpara,Minister of State (Surendranagar,Gujarat)
Defence
India’s first air force heritage centre is set for inauguration in Chandigarh
- An Indian Air Force heritage centre, the first of its kind in the country, has come up in Chandigarh’s sector 18 and is awaiting inauguration.
- The centre demonstrates five vintage aircraft and provides visitors with cockpit exposure and an experience on flight simulators.
- The most interesting part is that it’s the only heritage centre where the first IAF-made patent aircraft, Air Force Kanpur 1, (made by Air Vice Marshal Harjinder Singh in 1958) is positioned.
- Indian Air Force (IAF) – 26/01/1950 (Founded) – New Delhi (HQ) – Airforce Day (October 08) – Air Chief Marshal Vivek Ram Chaudhari (Chief of Air Staff) – ‘Touch the sky with Glory’ (Motto)
Daily Current Affairs - April 04, 2023 - Consolidated
- India, Malaysia can now trade in Indian rupee
- Himachal Pradesh to collaborate with Centre to promote lavender cultivation
- Around four lakh loans provided to minority street vendors under PM SVANidhi scheme
- 26 IAF airports identified under UDAN for operation of flights
- Finance Ministry launches 3-month campaign to boost micro-insurance schemes at Gram Panchayat level
- Unclaimed deposits of Rs 35,012 cr with PSU banks transferred to RBI: MoS Finance
- ATM cassette-swaps to start in June as cash refills go contactless
- Axis Bank launches business management solution for merchants
- FY24 procurement target through GeM likely to set at Rs 2.5 trillion
- Manufacturing PMI at 3-month high of 56.4 in March as input costs decline
- Adani Ports completes acquisition of Karaikal Port
- LIC raises stake in Bata India to 5.008% from 4.472%
- RBI appoints Neeraj Nigam as executive director
- Master Blaster Sachin Tendulkar becomes the world’s first ‘Hand Ambassador
- SpiceJet’s Ajay Singh takes over as ASSOCHAM President
- Madrid Spain Masters 2023
- International Children’s Book Day (ICBD)
- Prevention of Blindness Week
- 5th Poshan Pakhwada
- India’s first air force heritage centre is set for inauguration in Chandigarh
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