NATIONAL UPDATES:
1. Centre withdraws order cutting interest rates on small savings schemes: The government has withdrawn its order slashing interest rates on small savings schemes, including National Savings Certificates (NSC) and Public Provident Fund (PPF), for the first quarter of 2021-22. Earlier on March 31, 2021, the Finance Ministry had announced a sharp cut in interest rates for small savings schemes by 50-110 basis points. Interest rates for small savings schemes are notified on a quarterly basis. However, the orders issued were withdrawn by the government on April 01, 2021. This marks the fourth consecutive quarter that the government has maintained the rates on such schemes that are effective from April 1 and remain in effect till June 30, 2021.
2. Ghaziabad Nagar Nigam in Uttar Pradesh lists itself at BSE: Ghaziabad Nagar Nigam listed itself at BSE and successfully raised Rs. 150 Crores by issuing Municipal Bond on Private Placement Basis using BSE BOND. This is the first-ever green bond issuance by any Municipal Corporation in the country. The money will be used for the construction of a tertiary sewage treatment plant at Indirapuram in Ghaziabad. The money will be used to fund the project partly which is worth Rs 240 crore. This treatment plant will enable the sewage water to be used for industries after treatment. Ghaziabad Nagar Nigam is the second Municipal Corporation to raise funds in the state of Uttar Pradesh. Earlier, Lucknow Municipal Corporation had listed itself at BSE.
Note: Uttar Pradesh Capital: Lucknow; Uttar
Pradesh Governor: Anandiben Patel; Uttar Pradesh Chief Minister: Yogi
Adityanath.
3. GoI declares 14th April, birthday of Dr B R Ambedkar as public holiday: The central government has declared April 14, Dr BR Ambedkar’s birthday a public holiday. Dr B R Ambedkar was the sculptor of the Indian Constitution and the country already celebrates his birthday as Ambedkar Jayanti every year. The government has announced that from this year 14th April will be declared as a public holiday. It will be Ambedkar’s 130th birth anniversary on April 14, 2021.
About Babasaheb Ambedkar: Babasaheb
Ambedkar’s original name is Bhimrao Ramji Ambedkar. His father Ramji Sakpal was
a Subedar in the army and his mother Bhimbai Kapal was a housewife. The family
settled in Mumbai in 1897 and Babasaheb enrolled at Elphinstone High School.
After matriculation, he took admission to Elphinstone College in 1907. He
graduated from Bombay University in 1912 with a degree in Economics and
Political Science. Babasaheb Ambedkar was a renowned social reformer and a
Dalit icon, he spoke unequivocally against the inequality, injustice, and
discrimination faced by the members of the Dalit community. Babasaheb Ambedkar
died on December 6 in 1956. In 1990, he was posthumously awarded the Bharat
Ratna, India’s highest civilian award.
2. JICA extends Rs 3,717 crore loan for developing Metro Phase 2 in Bengaluru: Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India, to provide Japanese (ODA) loan amounting to Japanese Yen 52,036 million(approximately ₹3,717 crore) for the development of Phase 2 of ‘R6, 2A and 2B’ of Bangalore Metro Rail Corporation Limited (BMRCL)in Bengaluru. The cumulative loan amount provided by JICA for metro projects in India, including Delhi, Bengaluru, Chennai, Kolkata, Mumbai, and Ahmedabad, exceeds 1.3 trillion Japanese Yen (₹87,000 crore approximately).
3. India, South Korea Agree to Go for Joint Production, Export of Military Hardware: In a significant move, India and South Korea have agreed to go for joint production and export of military hardware, enhance intelligence sharing and boost cooperation in cyber and space domains as part overall expansion of defence and security ties. In the field of defence industrial cooperation, the two sides decided to focus on joint research, joint production and joint export. The two sides also agreed to increase focus on cyber and space cooperation besides resolving to continue to focus on streamlining the intelligence exchange mechanism.
1. Navi Mumbai, Ahmedabad and Bhubaneswar to host AFC Women’s Asian Cup 2022: The Asian Football Confederation (AFC) and the AFC Women’s Asian Cup India 2022 Local Organising Committee (LOC) confirmed the D.Y. Patil Stadium in Navi Mumbai, Ahmedabad’s TransStadia and the Kalinga Stadium in Bhubaneswar will stage the continent’s premier women’s national team competition. The three stadiums and host cities will provide the ultimate backdrop for some of the finest players in Asian and world women’s football from January 20 to February 6, 2022. The Qualifiers for the AFC Women’s Asian Cup India 2022 is set to take place from September 13 to 25 in centralised venues with the draw scheduled to be held on May 27 at the AFC House in Kuala Lumpur, Malaysia.
BANKING AND FINANCE
1. RBI extends deadline for processing auto-debit payments by 6 months: The Reserve Bank of India (RBI) has extended the timeline for processing recurring online transactions by 6 months to September 30, 2021. Earlier in December 2020, RBI had directed all banks including RRBs, NBFCs, and payment gateways that the processing of recurring transactions (domestic or cross-border) using cards or Prepaid Payment Instruments (PPIs) or Unified Payments Interface (UPI) would not be continued beyond March 31, 2021, if they do not comply with Additional Factor of Authentication (AFA).
This means that with effect from April 30,
2021, there were supposed to be no automatic recurring payment for various
services, including recharge and utility bill, under arrangements/practices not
compliant with AFA. However, banks and payment gateways had sought additional
time to comply with the RBI directive on automatic recurring payment. Taking it
into consideration, RBI decided to further extend the timeline.
Note: RBI 25th Governor: Shaktikant Das;
Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.
2. Mukhmeet S. Bhatia takes over as Director General of ESIC: Senior IAS officer, Mukhmeet S. Bhatia took over the charge of Director General of Employees’ State Insurance Corporation (ESIC) on April 04, 2021. He is a 1990 IAS Officer of the Jharkhand cadre. Earlier, he has worked as the Additional Secretary in the Department of Economic Affairs, Ministry of Finance. ESIC is a Statutory and an Autonomous Body under the Ministry of Labour and Employment.
Note: Employees’ State Insurance Corporation
Founded: 24 February 1952; Employees’ State Insurance Corporation Headquarters:
New Delhi.
1. UNESCAP: India’s Economic Growth Of 7% in 2021-22: The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) said in the latest update that, India’s is estimated to record economic growth of 7% in 2021-22, over a contraction of 7.7% witnessed in the previous fiscal on account of the pandemic’s impact on normal business activity. It also noted that maintaining low borrowing costs while keeping non-performing loans in check would be a challenge.
Note: UNESCAP Founded: 28 March 1947; UNESCAP
Headquarters: Bangkok, Thailand.
2. Subhash Kumar takes additional charge as CMD of ONGC: Subhash Kumar has assumed the additional charge as Chairman and Managing Director (CMD) of Oil and Natural Gas Corporation (ONGC) on April 01, 2021. He is serving as Director (Finance) at ONGC. Kumar succeeds incumbent CMD, Shashi Shanker, who superannuated on March 31, 2021.
Note: Oil and Natural Gas Corporation
Headquarters: Vasant Kunj, Delhi; Oil and Natural Gas Corporation CEO: Shashi
Shanker (1 Oct 2017–); Oil and Natural Gas Corporation Founder: Government of
India; Oil and Natural Gas Corporation Founded: 14 August 1956.
3. Paytm Money opens new R&D centre in Pune: Online investment platform Paytm Money has set up a new R&D facility in Pune, Maharashtra, which will drive product innovation, especially in the area of equity, mutual funds, and digital gold. The company added that it plans to hire over 250 engineers and data scientists to build new wealth products and services. Paytm Money aims to achieve over 10 million users and 75 million yearly transactions in FY21, with the majority of users coming from small cities and towns.
Note: Paytm HQ: Noida, Uttar Pradesh; Paytm
Founder & CEO: Vijay Shekhar Sharma; Paytm Money CEO: Varun Sridhar.
AWARDS AND HONOURS
1. Legendary Actor Rajinikanth to be honoured with 51st Dadasaheb Phalke Award: The legendary actor Rajinikanth has been selected to be honoured with the 51st Dadasaheb Phalke Awards, the highest film honour in India. The iconic actor Rajinikanth will receive the Dadasaheb Phalke award for 2019 for his stupendous contribution to Indian cinema. Rajinikanth will receive the Dadasaheb Phalke Award on May 3, 2021. Rajinikanth is the 12th South Indian to get this award. Legends like Dr Rajkumar, Akkineni Nageshwar Rao, K Balachander have been awarded before. The legendary actor has been honoured with the Padma Bhushan and Padma Vibhushan in the past. The jury this year for the prestigious award included playback icon Asha Bhosle, director-producer Subhash Ghai, Malayalam superstar Mohanlal, music composer and singer Shankar Mahadevan and Biswajeet Chatterjee.
2. NTPC conferred ‘Role Model’ award at 11th CII National HR Excellence Award 2020-21: NTPC Ltd, a Public Sector Undertaking under Ministry of Power has been conferred the prestigious ‘Role Model’ Award at the 11th CII National HR Excellence Award 2020-21. The award was presented in the virtual conference “Learn from the Achievers”. This award is the highest level of recognition in the field of Human Resources by Confederation of Indian Industry. Since the institutionalization of CII National HR Excellence Award, this is only the second time when the award of Role Model has been conferred to any organization.
DEFENCE
1. 4th batch of three Rafale fighter jets land in India: The fourth batch of three Rafale fighter jets landed in India after flying non-stop from Istres Air Base France, in a further boost to the strike capability of the Indian Air Force (IAF). The Rafale fighter jets were provided mid-air refuelling by air force tankers of the United Arab Emirates (UAE). The three Rafale fighter aircraft which took off from France for India were scheduled to land at the Jamnagar airbase. The planes equipped with the Hammer missiles have enhanced their capability to carry out air-to-ground strikes like the one in Balakot.
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