Daily Current Affairs – April 26, 2023
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Daily Current Affairs - Banking - April 26, 2023
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National News
'India's first village'
- The Border Roads Organisation had put up a signboard at the entrance of Uttarakhand’s Mana village on the India-China border reading ‘India’s first village.
- Mana is situated near Badrinath.
- Border Roads Organisation (BRO) – 07/05/1960 (Founded) – New Delhi (HQ) – Lt. Gen. Rajeev Chaudhary (Director General)
PM Modi inaugurated 'One Earth One Health' advantage healthcare India -2023
- Prime Minister Narendra Modi addressed the 6th edition of Advantage Healthcare India (AHCI) (One Earth One Health) virtually organized at Pragati Maidan, New Delhi.
- The government organised the international summit on medical value travel to promote the export of Medical services from India.
- The two-day event aims to showcase India as the New Hub of Medical Value Travel and how it has immerged as a major hub for world-class healthcare and wellness services and its significance in medical potential, further creating and exploring opportunities for healthcare collaborations between the participating countries.
State News
PM participated in programme marking 20 years of SWAGAT initiative
- Prime Minister Shri Narendra Modi participated in a programme marking 20 years of completion of the SWAGAT initiative in Gujarat.
- SWAGAT (State Wide Attention on Grievances by Application of Technology) was started by the Prime Minister in April 2003, when he was the Chief Minister of Gujarat.
- The start of the programme was driven by his belief that the foremost responsibility of a Chief Minister is to solve the problems of the people of his State.
- With this resolve, along with the early realisation of the potential of technology to promote ease of living, the then CM Modi launched a first of its kind tech-based grievance redressal programme.
- The main purpose of this programme was to act as a bridge between the citizens and the government using technology by solving their day-to-day grievances in a quick, efficient and time-bound manner.
- Over time, SWAGAT brought about a transformative impact in the lives of people and became an effective tool to solve woes in a paperless, transparent and hassle-free manner.
- The uniqueness of SWAGAT is that it helps common man air his grievances directly to the Chief Minister.
- It is held on the fourth Thursday of every month wherein the Chief Minister interacts with citizens for grievance redressal.
- The SWAGAT Online Programme has four components: the State SWAGAT, District SWAGAT, Taluka SWAGAT and Gram SWAGAT.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
T.N. government formally renamed road in Chennai after former Additional Solicitor General of India, V.P. Raman
- Tamil Nadu Chief Minister M.K. Stalin virtually unveiled a new name board, for a stretch of road in Chennai between Marina Beach and the Indian Bank’s head office.
- The road, running East-West, earlier known as Avvai Shanmugam Salai, will now be known as V.P. Raman Road, honouring former Additional Solicitor General (ASG) of India, V.P. Raman.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
PM Modi flagged off Vande Bharat Express for Kerala
- Prime Minister Narendra Modi flagged off Kerala’s first and 15th Vande Bharat Express between Thiruvananthapuram and Kasargod at Thiruvananthapuram Central Station.
- Prime Minister Modi also laid the foundation stone and dedicated various projects to the nation worth more than three thousand two hundred crore rupees.
- Modi also dedicated the India’s first water metro in Kochi.
- This project connects ten islands around Kochi through battery-operated electric hybrid boats for seamless connectivity with Kochi city.
- Kochi Water Metro with 78 eco-friendly boats and 38 terminals cost 1,136.83 crores, funded by Government of Kerala and German funding agency KfW.
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
PM Modi inaugurated and laid foundation of development projects worth Rs 4,800 crore at Silvassa
- Prime Minister inaugurated and laid the foundation stone for various projects worth 4 thousand 800 crore rupees at Silvasa, Dadra and Nagar Haveli.
- These include the first-ever Medical College- NAMO Medical Education and Research Institute at Silvasa.
- He also launched two state-of-the-art infrastructure projects in Daman called ‘Devka Promenade and Seafront’ which will boost tourism in the region.
- Dadra and Nagar Haveli and Daman and Diu – Daman (Capital) – Praful Khoda Patel (Administrator) – Hindi & English (Language)
Schemes
Department of Animal Husbandry and Dairying organized 2000 camps to spread awareness on Entrepreneurship schemes
- The Department of Animal Husbandry and Dairying had organized two thousand camps to spread awareness on Entrepreneurship schemes and Doorstep Veterinary Services under “Pashudhan Jagruty Abhiyaan”.
- The department conducted it across the Aspirational Districts, as a part of Aazadi Ka Amrit Mahostav campaign on Inclusive Development.
- The Department said that Information on various Schemes and Programmes of the Department especially on Entrepreneurship, Vaccination and other beneficiary-oriented schemes of the Department were explained through these camps.
- Around one lakh farmers joined the awareness Programme virtually.
- Ministry of Fisheries, Animal Husbandry and Dairying – Parshottam Rupala,Union Minister (Rajya Sabha MP,Gujarat) – Sanjeev Balyan, Minister of State (Muzaffarnagar,UP), L. Murugan, Minister of State (Rajya Sabha MP,MP)
Government launched 'Sangathan se Samriddhi' scheme to bring marginalised rural women into SHGs network
- Rural Development Minister Giriraj Singh launched ‘Sangathan Se Samriddhi’ campaign.
- It will empower marginalized rural households by bringing all eligible rural women into the fold of Self Help Groups (SHGs).
- The government is targeting to bring 10 crore women under the purview of SHGs from the existing nine crores.
- The number of members, which was just 2.35 crore in May 2014, has now crossed nine crores.
- The government had set a target that every woman associated with SHGs should be able to earn one lakh rupees per annum.
- Ministry of Rural Development – Giriraj Singh,Union Minister (Begusarai,Bihar) – Sadhvi Niranjan Jyoti,Minister of State (Fatehpur,UP), Faggan Singh Kulaste,Minister of State (Mandla,MP)
India will develop 50 new tourism destinations and 59 new routes under UDAAN
- Ministry of Tourism, Government of India in association of department of Tourism, Government of Rajasthan is organized G20 Tourism Expo in Jaipur
- India planned to develop 50 new tourism destinations across the country and envisages making 59 new air routes operational to boost tourism in the country.
- Ministry of Tourism – Gangapuram Kishan Reddy,Union Minister (Secunderabad,Telangana) – Shripad Naik, Minister of State (North Goa,Goa) & Ajay Bhatt, Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)
Banking and Finance
RBI imposed penalty on four cooperative banks for violation of various norms
- The Reserve Bank had imposed a Rs 16 lakh penalty on Chennai-based The Tamil Nadu State Apex Co-operative Bank, for contravention of various norms.
- A penalty of Rs 13 lakh had been imposed on Bombay Mercantile Co-operative Bank as it failed to transfer eligible amount to Depositor Education and Awareness Fund (DEAF) within the prescribed period and transferred the same with delay.
- A penalty of Rs 13 lakh had been imposed on Janata Sahakari Bank, Pune for non-compliance with directions on ‘Interest Rate on Deposits’.
- A monetary penalty of Rs 2 lakh had been imposed on Baran Nagrik Sahkari Bank, Baran, Rajasthan for contravention of certain norms.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
NARCL acquired Rs 21,000 crore of stressed loans till March 2023
- National Asset Reconstruction Company Limited (NARCL) has aggregated debt of around Rs 21,000 crore till March 2023, through acquisition of three stressed loans, 23 offers amounting to Rs 1,21,223 crore have been made by NARCL.
- In January this year, Jaypee Infratech became the first large stressed account to be transferred to NARCL by lenders led by IDBI Bank.
- The company was among the 12 large accounts referred by the Reserve Bank of India (RBI) to the National Company Law tribunal (NCLT) in 2017.
- The total exposure of all the banks to Jaypee Infratech was over Rs 9,000 crore and IDBI Bank’s exposure stood at Rs 3,750 crore.
- NARCL, through its resolution agent, India Debt Resolution Company Ltd.
- (IDRCL), will focus on the resolution of the accounts acquired and is in constant dialogue with the lenders for the new acquisitions, which activity is expected to increase in FY24.
- The setting up of the bad bank was announced by Finance Minister Nirmala Sitharaman in the Budget 2021-22.
- It acquires assets on a 15:85 ratio of cash and security receipts (SRs).
- SRs, which are issued in favour of the transferring lenders, are secured by government guarantee for its face value.
- IDRCL is a service company which manages the asset and engages market professionals and turnaround experts.
- National Asset Reconstruction Company (NARCL) – 07/07/2021 (Founded) – Mumbai (HQ) – Shri Karnam Sekar (Chairman & Independent Director) – Shri Natarajan Sundar (MD & CEO)
LIC total premium rose 17% to Rs 2.32 lakh crores in FY23
- Life Insurance Corporation (LIC) said its total premium rose 17 per cent to Rs 2.32 lakh crore during FY2022-23.
- The same stood at Rs 1.99 lakh crore in the year-ago period.
- In terms of premium collected, it continues to hold a market share of 62.58 per cent as on March 2023.
- LIC’s premium growth for the fiscal 2023 is the second highest among its listed peers, with HDFC Life leading with 18.83 per cent, SBI Life at 16.22 per cent and ICICI Prudential Life Insurance Company at 12.55 per cent.
- With regard to individual single premium, LIC witnessed a growth of 3.30 per cent and individual non-single premium grew 10 per cent, its group single premium grew 21.76 per cent to Rs 1,67,235 crore from Rs 1,37,350.36 crore.
- For March 2023, LIC’s premium for individual category exceeds Rs 10,000 crore the highest amongst all life insurance companies followed by HDFC Life, SBI Life and Tata AIA Life gathering Rs 2,989.17 crore, Rs 2,318.77 crore, Rs 1,884.41 crore, respectively.
- In the individual non-single premium segment, it grew 10.49 per cent from Rs 5,501.12 crore in March 2022 to Rs 6,077.97 crore in March 2023.
- Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)
SBI General Launched a Fully Customizable, Digital-only Health Product 'Health Edge Insurance'
- SBI General Insurance, one of India’s leading general insurers announced the launch of a fully customizable digital-only health product ‘Health Edge Insurance’.
- The policy offers a single comprehensive plan with 9 basic indemnity covers and 18 optional covers, allowing customers to design a tailor-made health insurance policy as per their requirements.
- It offers customers a convenient and hassle-free experience.
- The policy provides multiple sum insured options ranging between INR 3 Lacs to INR 25 Lacs, with long-term policy options available for up to 3 years.
- It offers customers value with premiums starting from less than Rs.15/day*.
- The entry age to purchase the Health Edge plan is 18 years to 65 years for adults and 91 days to 30 years for children.
- SBI General Insurance Company Limited – 2009 (Founded) – Mumbai (HQ) – Kishore Kumar Poludasu (MD & CEO)
Agreements and MoUs signed
IGNOU, ICAI signed MoU for distance learning diploma programme in agricultural cost management
- A memorandum of understanding was signed between the Indira Gandhi National Open University (IGNOU) and the Institute of Cost Accountants of India to develop an open and distance learning diploma programme in agricultural cost management.
- The diploma aims to create awareness and human resources in agricultural cost management by imparting knowledge, skills, and entrepreneurial capabilities to the farming communities.
- The programme will be beneficial for farmers, youths, small and medium entrepreneurs, extension workers, NGO functionaries/trainers, members of cooperative societies and self-help groups, among others.
- The MoU was signed by Dr Alok Chaube, Registrar (Administration), IGNOU and CMA Vijender Sharma, President, ICMAI.
Appointments
nasscom appointed Anant Maheshwari as chairperson
- nasscom has announced the appointment of Anant Maheshwari, who is the president of Microsoft India as its chairperson for 2023-24.
- He has succeeded Krishnan Ramanujam, president, business and technology at Tata Consultancy Services.
- National Association of Software and Service Companies (NASSCOM) – 01/03/1988 (Founded) – Noida (HQ) – Anant Maheshwari (Chairman)
Ranks and Indices
Union Bank of India secured 1st Rank in EASE reforms
- Enhanced Access & Service Excellence (EASE) is an initiative by the DFS (GOI) as part of the PSB Reforms Agenda and is currently under its fifth iteration which focuses on Enhanced Digital experience, Data–driven, Integrated, and Inclusive Banking.
- Union Bank of India, for the first time, secures 1st rank as per the report on EASE Reforms Index for Q3 FY 2022-23 published by Indian Banks’ Association (IBA).
- The performance of PSBs is measured on five themes under EASE 5.0, in which, Union Bank of India has set the benchmark under the four themes i.e., “Digitally – enabled customer offerings”, ‘Big data and analytics’, ‘Modern Technology Capabilities’ and “Employee development and Governance” by securing 1st rank amongst PSBs.
- Union Bank of India – 11/11/1919 (Founded) – Mumbai (HQ) – A. Manimekhalai (MD & CEO) – “Good People to Bank with”
Awards and Recognitions
Ratan Tata awarded Australia's highest civilian honour
- Ratan Tata, the Chairman Emeritus of Tata Sons, was conferred with Australia’s highest civilian honour, the Order of Australia, for his efforts in strengthening the India-Australia bilateral relations.
- Australia’s High Commissioner to India, Barry O’Farrell, who handed over the award to Ratan Tata.
- Australia – Canberra (Capital) – Australian dollar (Currency) – Charles III (Monarch) – Anthony Albanese (Prime Minister) – English (Language)
Important Days
World Day for Animals in Laboratories
- World Day for Animals in Laboratories (WDAIL) also known as World Lab Animal Day) is observed every year on 24 April.
- The surrounding week (April 18 to 24) has come to be known as “World Week for Animals in Laboratories”.
- The National Anti-Vivisection Society (NAVS) describes the day as an “international day of commemoration” for animals in laboratories.
- In 1979, NAVS established World Day for Laboratory Animals (also referred to as Lab Animal Day) on April 24, Lord Hugh Dowding’s birthday.
World Malaria Day
- World Malaria Day (WMD) is an international observance commemorated every year on 25 April and recognizes global efforts to control malaria.
- WMD is one of 11 official global public health campaigns currently marked by the World Health Organization (WHO), along with World Health Day, World Blood Donor Day, World Immunization Week, World Antimicrobial Awareness Week, World Patient Safety Day, World Tuberculosis Day, World Chagas Disease Day, World No Tobacco Day, World Hepatitis Day and World AIDS Day.
- World Malaria Day was established in May 2007 by the 60th session of the World Health Assembly.
- Theme – “Time to deliver zero malaria: invest, innovate, implement”.
- World Health Organization (WHO) – 07/04/1948 (Founded) – Geneva, Switzerland (HQ) – Tedros Adhanom (Director-General)
International Delegate's Day
- International Delegate’s Day is commemorated on April 25 every year.
- It recognizes delegates who are a key part of the United Nations.
- On 25 April 1945, International Delegate’s Day marks the first anniversary of the San Francisco Conference, also known as the United Nations Conference on International Organization.
- On June 26, 1945, two months after the first meeting, the 50 countries signed the United Nations Charter.
- The United Nations Organization’s establishment in 1945 resulted from the signing of the United Nations Charter, which enshrines the principles that shape the organization’s work.
- On April 2, 2019, the United Nations General Assembly designated April 25 as International Delegate’s Day to commemorate the signing of the United Nations Charter in San Francisco.
- United Nations (UN) – 24/10/1945 (Founded) – New York (HQ) – António Guterres (Secretary General) – 193 member states & 2 observer states
Daily Current Affairs - April 26, 2023 - Consolidated
- ‘India’s first village’
- PM Modi inaugurated ‘One Earth One Health’ advantage healthcare India -2023
- PM participated in programme marking 20 years of SWAGAT initiative
- TN. government formally renamed road in Chennai after former Additional Solicitor General of India, V.P. Raman
- PM Modi flagged off Vande Bharat Express for Kerala
- PM Modi inaugurated and laid foundation of development projects worth Rs 4,800 crore at Silvassa
- Department of Animal Husbandry and Dairying organized 2000 camps to spread awareness on Entrepreneurship schemes
- Government launched ‘Sangathan se Samriddhi’ scheme to bring marginalised rural women into SHGs network
- India will develop 50 new tourism destinations and 59 new routes under UDAAN
- RBI imposed penalty on four cooperative banks for violation of various norms
- NARCL acquired Rs 21,000 crore of stressed loans till March 2023
- LIC total premium rose 17% to Rs 2.32 lakh crores in FY23
- SBI General Launched a Fully Customizable, Digital-only Health Product ‘Health Edge Insurance’
- IGNOU, ICAI signed MoU for distance learning diploma programme in agricultural cost management
- nasscom appointed Anant Maheshwari as chairperson
- Union Bank of India secured 1st Rank in EASE reforms
- Ratan Tata awarded Australia’s highest civilian honour
- World Day for Animals in Laboratories
- World Malaria Day
- International Delegate’s Day
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