Daily Current Affairs – April 29, 2023
Daily Current Affairs - Banking - April 29, 2023
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- Sikkim hosted the Civil 20 (C20) India 2023 in Gangtok.
- Civil 20 is a working group on sustainable and resilient communities – Climate, Environment and Net Zero targets.
- The event is anticipated to gather 200 attendees from 22 nations along with many more attendees from around the world joining the conclave via online mode.
- Sikkim – Gangtok (Capital) – Prem Singh Tamang (CM) – Lakshman Acharya (Governor) – Nepali,Sikkimese,Lepcha,English (Language)
PM inaugurated 91 new FM transmitters, to benefit aspirational districts and border areas
- Prime Minister Narendra Modi, inaugurated 91 new FM Transmitters, which is expected to give a further boost to radio connectivity in the country.
- This will strengthen FM radio connectivity in 85 districts across 18 States and 2 Union Territories and will benefit aspirational districts and border areas
- Prime Minister marks a significant step in the expansion of FM services by All India Radio and will revolutionise the radio industry.
- He said the districts covered under the new 91 FM transmitters are aspirational districts and blocks and will also greatly benefit the North East region.
Shanghai Cooperation Organisation's Defence Ministers Meeting held in New Delhi
- The Shanghai Cooperation Organisation (SCO) Defence Ministers Meeting will be held in New Delhi.
- Defence Minister Rajnath Singh chaired the meeting.
- Defence Ministers of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan will be participating in the meeting.
- India has invited Belarus and Iran, who are currently observers in SCO, to participate in the Meeting.
- Defence Minister of Pakistan would be participating virtually.
- The Ministers will discuss matters related to regional peace and security, counter terrorism efforts within SCO and an effective multilateralism.
- Shanghai Cooperation Organisation (SCO) – 15/06/2001 (Founded) – Beijing, China (Secretariat) – Members (6 countries) – Zhang Ming (Secretary General) – Chinese & Russian (Official Language)
Over 1.19 crore new subscribers joined APY in FY23
- The finance ministry said more than 1.19 crore new subscribers enrolled in the social sector scheme Atal Pension Yojana in 2022-23, a growth of about 20 per cent year-on-year.
- Ninety-nine lakh subscribers joined the Atal Pension Yojna (APY) in 2021-22.
- The total enrolment under Atal Pension Yojana (APY) crossed the 5.20 crore mark as on March 31, 2023.
- The total assets under management (AUM) in APY is about Rs 27,200 crore.
- The scheme has generated an investment return of 8.69 per cent since the inception of the scheme.
- In the public sector banks (PSBs) category, 9 banks achieved the annual target while Bank of India, State Bank of India and Indian Bank sourced more than 100 APY accounts per branch.
- Under APY, a subscriber would receive a lifelong minimum guaranteed pension of Rs 1,000 to Rs 5,000 per month from the age of 60 years, depending on their contributions, which itself would vary based on the age of joining the APY.
- 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)
Narayan Rane launched revamped CGTMSE Scheme
- Union Minister for MSME Shri Narayan Rane launched the revamped CGTMSE Scheme in Mumbai.
- CGTMSE has been provided with an additional corpus support of ₹9,000 crores in the Union Budget for FY 2023-24 to revamp its Scheme to provide guarantee for additional ₹2 lakh crore to Micro & Small Enterprises.
- Accordingly, the major revamp measures were launched and disseminated to the lending institutions.
- The modifications included reduction in guarantee fees for loans upto ₹1 crore by 50% bringing the minimum guarantee fee to the level of 0.37% pa only.
- Another major change announced was raising of ceiling for guarantee from ₹2 crore to ₹5 crore and enhancing the threshold limit for claim settlement without initiation of legal action to ₹10 lakh.
- Ministry of Micro, Small and Medium Enterprises – Narayan Rane,Union Minister (Rajya Sabha MP,Maharashtra) – Bhanu Pratap Singh Verma,Minister of State (Jalaun,UP)
Ministry of Heavy Industries announced release of SOPs under PLI Auto scheme to testing agencies
- The Ministry of Heavy Industries announced the release of Standard operating procedures (SOPs) under the PLI Auto scheme to testing agencies.
- With this, the applicants under the scheme can now submit their applications for the testing and certification of advanced automotive technology products (OEMs and components), which will help them qualify for incentives under the PLI Auto scheme.
- The Ministry of Heavy Industries (MHI) notified the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India on 23 September 2021, with a budgetary outlay of 25,938 crore rupees.
- The scheme has two parts, Champion OEM, which will make electric or hydrogen-powered vehicles, and Component Champions, which will make high-value and high-tech components.
- Ministry of Heavy Industries – Mahendra Nath Pandey,Union Minister (Chandauli,UP) – Krishan Pal Gurjar,Minister of State (Faridabad,Harayana)
Banking and Finance
RBI removed restrictions on individuals from opening interest-earning FCAs
- In yet another initiative to make India’s International Financial Services Centre (IFSC) more attractive, the Reserve Bank of India removed restrictions on individuals from opening interest-earning Foreign Currency Accounts (FCA).
- Further, the central bank removed the condition of repatriating any funds lying idle in the FCA account for a period of up to 15 days.
- Industry players said the long-awaited amendment by the RBI now puts IFSC at par with other jurisdictions when it comes to remittances.
- In February 2021, the RBI allowed resident individuals to make remittances under the Liberalised Remittance Scheme (LRS) to IFSCs set up in India.
- However, the remittances were to be made only for making investments in IFSC securities.
- Moreover, only a non-interest-bearing FCA was allowed in IFSCs under LRS.
- And any funds lying idle in the account for a period up to 15 days from the date of its receipt were to be immediately transferred back to the domestic account of the investor in India.
- The RBI issued circular and removes these key restrictions.
- Legal experts say the move will boost activity at Gift City, India’s first and only IFSC.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
NPCI International partnered with PPRO to facilitate global e-commerce payments through UPI
- NPCI International Payments, a wholly-owned subsidiary of National Payments Corporation of India (NPCI), entered into partnership with digital payments infrastructure provider PPRO to facilitate global e-commerce payments through UPI.
- The agreement is aimed at expanding RuPay card and UPI acceptance across global clients such as payment service providers (PSPs) and global merchant acquirers.
- It will drive NPCI International’s expansion into foreign markets and will add India to PPRO’s Local Payment Method (LPM) coverage map.
- It will also allow global PSPs, banks, payment gateways and enterprises with payment platforms to expand globally giving international e-commerce merchants access to Indian consumers.
Razorpay announced integration with government-backed ONDC
- Fintech major Razorpay announced it will join government-backed ecommerce network Open Network for Digital Commerce (ONDC).
- The Bengaluru-based payments solution startup said it will provide payment reconciliation services to network participants such as buyers, sellers and logistic partners to streamline the payment processes on ONDC.
- Razorpay said it aims to facilitate ease of transacting on ONDC by timely routing of settlement information for a given transaction and assisting network participants (NPs) in settling funds.
- Razorpay Software Private Limited – 2013 (Founded) – Bangalore (HQ) – Harshil Mathur (CEO)
Business and Economy
APEDA-promoted agricultural products’ exports up 9% to record high of $27 billion in FY23
- Surpassing the target of $23.56 billion, exports of major agriculture and processed products (broadly divided under 27 categories) promoted by nodal agency Agricultural and Processed Food Products Export Development Authority (APEDA) jumped 8.74 per cent to $26.72 billion during the last fiscal from $24.57 billion in 2021-22.
- Pulses, Basmati rice, guar gum, groundnut and poultry products were the top performers which registered over 32 per cent growth rate.
- However, wheat, floriculture and meat (other than buffalo, sheep and goat meat) exports declined.
- Due to the sudden ban imposed by the Centre on wheat exports last May, which still continues, the volume dropped to 4.69 million tonnes(mt) worth $1.5 billion from 7.24 mt a year ago.
- India’s agricultural exports, including marine products and spices, surged about 20 per cent to $50.21 billion during 2021-22, in which APEDA-promoted products had over 50 per cent share.
- Agricultural and Processed Food Products Export Development Authority (APEDA) – 1986 (Founded) – New Delhi (HQ) – Dr. M. Angamuthu (Chairman)
India's major ports handled highest ever cargo of 795 million tonne in FY23
- Addressing an event organised by industry body FICCI, the Ports, Shipping and Waterways minister Sarbananda Sonowal said that India’s major ports handled the highest ever cargo at 795 million tonne in 2022-23, registering an increase of 10.4 per cent over the previous year, Union Minister Sarbananda Sonowal.
- Major ports recorded the highest ever output per day of 17,239 tonne in last fiscal year, a growth of 6 per cent as compared to 2021-22.
- India has 12 major ports — Deendayal (Kandla), Mumbai, Mormugao, New Mangalore, Cochin, Chennai, Ennore (Kamarajar), Tuticorin (V O Chidambaranar), Visakhapatnam, Paradip and Kolkata (including Haldia) and Jawaharlal Nehru Port.
- Ministry of Ports, Shipping and Waterways – Sarbananda Sonowal, Union Minister (Rajya Sabha MP, Assam) – Shripad Yesso Naik, Minister of State (North Goa) & Shantanu Thakur, Minister of State (Bangaon,West Bengal)
Summit and Conference
Two-day National Conference on Condition Monitoring
- A two-day National Conference on Condition Monitoring (NCCM 2023) was inaugurated by Secretary, Department of Defence R&D and Chairman, Defence Research and Development Organisation (DRDO) Dr Samir V Kamat in Visakhapatnam.
- The conference has been organised by Naval Science and Technological Laboratory (NSTL), a premier laboratory of DRDO in association with Condition Monitoring Society of India.
- The objective is to bring together practitioners and experts of Condition Monitoring and spread the message of effectively implementing related practices in the industry for enhanced productivity and increased availability.
- The conference is deliberating on various themes such as ‘vibration-based diagnostics’, ‘wear debris analysis’, ‘Artificial Intelligence/Machine Learning in Condition Monitoring’ and ‘Sensors and Signal Processing for Condition Monitoring’.
- The conference is being attended by participants from industries, academic institutes and R&D establishments across the country.
- Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)
Union Agriculture Minister inaugurated Farm Machinery Technology Summit
- The Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar inaugurated the Summit on Farm Machinery Technology, organized by Confederation of Indian Industry (CII) and Tractor and Mechanization Association (TMA).
- Shri Tomar said that there are about 85 percent small farmers in the country, who should get the benefit of technology & machinery.
- An amount of Rs.6120.85 crore has been released to the states from 2014-15 to 2022-23 for various activities like training, testing, setting up of CHCs, hi-tech hubs and Farm Machinery Banks (FMBs) under the Sub-Mission on Agricultural Mechanization (SMAM).
- Besides 15.24 lakh farm machinery and equipment have been distributed at subsidized rates through state governments, including tractors, power tillers and automated machinery.
- By implementing the new system at the Central Farm Machinery Training and Testing Institute (CFMTTI), Budni (M.P.), the Government of India has reduced the time taken for completing the testing of tractors to a maximum of 75 working days.
- Also, from the year 2014-15 to 2022-23, 1.64 lakh workers have been trained by the Central Government through its four FMTTI designated authorized test centers.
- The introduction of the Rupees One lakh crore Agricultural Infrastructure Fund is also an important step in this direction, in which projects worth Rs. 14,000 crores have been approved which are benefitting the farmers.
- Kisan drones are being promoted, for which along with introducing the drone policy, subsidies are being given to various sections including farmers, SC-ST category, women farmers while crop specific SOP has also been issued for application of pesticides with drones.
- Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
NTPC arm got 500 MW renewable energy project from REMCL
- NTPC Renewable Energy Ltd (NTPCREL) had bagged a 500 MW renewable energy round-the-clock (RE-RTC) project.
- The work has been awarded by REMCL, which is a joint venture (JV) company of the Ministry of Railways and RITES Ltd.
- NTPC Limited (National Thermal Power Corporation Limited) – 07/11/1975 (Founded) – New Delhi (HQ) – Gurdeep Singh (Chairman & MD)
Redington tied up with SBI for provision of solar loans of up to Rs 5 crore
- Redington Ltd, a major distributor of IT hardware, entered the business of stocking up solar modules in 2016, aggregating demand from 3,000-odd systems integrators.
- It buys modules from three Chinese manufacturers – Trina, JA Solar and Longi – and stocks them for systems integrators who install rooftop solar power plants.
- The company recently tied up with SBI for provision of solar loans of up to Rs 5 crore at interest rates linked to rates that the bank charges its best customers. The interest rates for these solar loans ranges between 9.5 per cent and 10 per cent, according to Pradeep Srikanthan, who heads the solar business at Redington.
Axis Bank approved appointment of Subrat Mohanty as a whole-time director
- Axis Bank, announced the appointment of Subrat Mohanty as a whole-time director on the company’s board, with effect from May 1, 2023.
- The appointment is for a period of three years and is subject to approval of the shareholders of the Bank and RBI.
- Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)
HDFC Life Elevated Niraj Shah as Executive Director and Chief Financial Officer
- HDFC Life, one of India’s leading life insurers, elevated Niraj Shah as Additional – Whole-time Director (designated as Executive Director & Chief Financial Officer), effective April 26, 2023 for a term of three years.
- Niraj has been the Chief Financial Officer (CFO) of HDFC Life since February 2019.
- He oversees Finance, Product Development, and Process Excellence.
- HDFC Life Insurance Company Ltd. – 2000 (Founded) – Mumbai (HQ) – Vibha Padalkar (MD & CEO)
ASI Additional Director General Janhwij Sharma given charge as DG
- Archaeological Survey of India’s Additional Director General (Conservation and World Heritage) Janhwij Sharma has been given charge as the director general of the ASI.
- The Archaeological Survey of India was established in 1861 for carrying out excavation, archaeological researches and ensuring protection of the cultural heritage.
- Headquartered in New Delhi, it comes under the purview of the the Ministry of Culture, and there are a total of 3,693 heritage sites in India protected by the ASI.
SpiceJet appointed Arun Kashyap as Chief Operating Officer
- SpiceJet announced the appointment of Arun Kashyap as its Chief Operating Officer.
- Kashyap will be rejoining SpiceJet from Air India where he is the Chief Technical Officer.
- Earlier, he had served as the Chief Program & Transformation Officer at SpiceJet.
Awards and Recognitions
68th National Film Awards
- 68th edition of the Hyundai Filmfare Awards took place at the Jio World Conventional Centre in Mumbai.
- The awards were first introduced in 1954.
- Superstar Salman Khan will host the 68th Filmfare Awards, along with co-host Maniesh Paul.
- Filmfare Awards 2023 best film: Gangubai Kathiawadi
- Filmfare Awards 2023 best actor in a leading role (male): Rajkummar Rao for Badhaai Do
- Filmfare Awards 2023 best Actor in a leading role (female): Alia Bhatt for Gangubai Kathiawadi
- Filmfare Awards 2023 best director: Sanjay Leela Bhansali for Gangubai Kathiawadi
- Best Film Critics: Badhaai Do
- Best Actor Critics: Sanjay Mishra for Vadh
- Best Actress Critics: Bhumi Pednekar for Badhaai Do; Tabu for Bhool Bhulaiyaa 2
- Best Actor In A Supporting Role (Male): Anil Kapoor for Jugjugg Jeeyo
- Best Actor In A Supporting Role (Female): Sheeba Chaddha for Badhaai Do
- Best Music Album: Pritam for Brahmastra Part One: Shiva
- Best Lyrics: Amitabh Bhattacharya for Kesariya – Brahmastra Part One: Shiva
- Best Playback Singer (Male): Arijit Singh for Kesariya – Brahmastra Part One: Shiva
- Best Playback Singer (Female): Kavita Seth for Rangisari – Jugjugg Jeeyo
- Best Debut Director: Jaspal Singh Sandhu and Rajeev Barwal for Vadh
- Best Debut (Male): Ankush Gedam for Jhund
- Best Debut (Female): Andrea Kevichusa for Anek
- Best Dialogue: Prakash Kapadia and Utkarshini Vashishtha for Gangubai Kathiawadi
- Best Screenplay: Akshat Ghildial, Suman Adhikary and Harshvardhan Kulkarni for Badhaai Do
- Best Story: Akshat Ghildial and Suman Adhikary for Badhaai Do
- Best Action: Parvez Shaikh for Vikram Vedha
- Best Background Score: Sanchit Balhara and Ankit Balhara for Gangubai Kathiawadi
- Best Choreography: Kruti Mahesh for Dholida – Gangubai Kathiawadi
- Best Cinematography: Sudeep Chatterjee for Gangubai Kathiawadi
- Best Costume: Sheetal Iqbal Sharma for Gangubai Kathiawadi
- Best Editing: Ninad Kanolkar for An Action Hero
- Best Production Design: Subrata Chakraborty and Amit Ray for Gangubai Kathiawadi
- Best Sound Design: Bishwadeep Dipak Chatterjee for Brahmastra Part One: Shiva
- Best VFX: DNEG, Redfine for Brahmastra Part One: Shiva
- Special Awards
- Lifetime Achievement Award: Prem Chopra
- RD Burman Award For Upcoming Music Talent: Janhvi Shrimankar for Dholida – Gangubai Kathiawadi
Daily Current Affairs - April 29, 2023 - Consolidated
- G20 Session
- PM inaugurated 91 new FM transmitters, to benefit aspirational districts and border areas
- Shanghai Cooperation Organisation’s Defence Ministers Meeting held in New Delhi
- Over 1.19 crore new subscribers joined APY in FY23
- Narayan Rane launched revamped CGTMSE Scheme
- Ministry of Heavy Industries announced release of SOPs under PLI Auto scheme to testing agencies
- RBI removed restrictions on individuals from opening interest-earning FCAs
- NPCI International partnered with PPRO to facilitate global e-commerce payments through UPI
- Razorpay announced integration with government-backed ONDC
- APEDA-promoted agricultural products’ exports up 9% to record high of $27 billion in FY23
- India’s major ports handled highest ever cargo of 795 million tonne in FY23
- Two-day National Conference on Condition Monitoring
- Union Agriculture Minister inaugurated Farm Machinery Technology Summit
- NTPC arm got 500 MW renewable energy project from REMCL
- Redington tied up with SBI for provision of solar loans of up to Rs 5 crore
- Axis Bank approved appointment of Subrat Mohanty as a whole-time director
- HDFC Life Elevated Niraj Shah as Executive Director and Chief Financial Officer
- ASI Additional Director General Janhwij Sharma given charge as DG
- SpiceJet appointed Arun Kashyap as Chief Operating Officer
- 68th National Film Awards
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