NATIONAL UPDATES:
1.
AAI launches ‘AVSAR’ Scheme to provide platform to SHGs: The Airport
Authority of India (AAI) has launched an initiative “AVSAR” to encourage the
talent of women, artisans and craftsmen and provide them with the right
opportunities. AVSAR stands for ‘Airport as Venue for Skilled Artisans Of The
Region’. Under “AVSAR”, which is an
initiative of AAI, an opportunity to help the indigent to mobilize their
households into functionally effective self-earned groups for self-reliance and
self-dependence, has been provided.
Under this scheme:
a)
An
area of 100-200 square feet has been earmarked at each AAI operated airport.
The space is being allotted to the self-help groups, turn on a turn basis, for
a duration of 15 days.
b)
Few
outlets have already been commissioned at Chennai, Agartala, Dehradun,
Kushinagar, Udaipur & Amritsar Airport wherein SHGs operated by local
women, are showcasing and marketing their homemade local products like Puffed
Rice, Packaged Papad, Pickles, Bamboo based Ladies Bag/Bottle/Lamp Sets, local
artefacts, traditional craft, natural dyes, embroidery and indigenous weaves
with contemporary design to the air travellers.
c)
The
initiative to strengthen SHGs by allotting space at AAI Airports will provide
huge visibility to these small groups and prepare them to promote/market their
products to the wider spectrum, reaching out to the larger population.
2.
Ministry of Information and Broadcasting establishes the AVGC Promotion Task
Force: An
animation, visual effects, gaming, and comics (AVGC) promotion task group has
been established by the Ministry of Information and Broadcasting. The task
force, which will be led by the I&B Secretary, will produce its first
action plan within 90 days. Industry, academics, and state governments are all
represented. Key Points:
a)
In
her Budget speech, Union Finance Minister Nirmala Sitharaman announced the
formation of an AVGC promotion task team.
b)
The
organisation will develop a national AVGC policy, recommend a national
curriculum framework for graduation, post-graduate, and PhD courses in
AVGC-related fields, and collaborate with academic institutions, vocational
training centres, and industry to assist skilling programmes.
c)
It
will increase job possibilities, assist in promotion and market development
operations to expand Indian industry’s worldwide reach, increase exports, and recommend
incentives to attract foreign direct investment in the sector.
3.
Cabinet gives approval to extension of AIM till March Next year: The Union Cabinet
approved the continuation of the Atal Innovation Mission (AIM) until March
2023. AIM’s stated goals include developing 10,000 Atal Tinkering Labs (ATLs),
101 Atal Incubation Centres (AICs), and sponsoring 200 entrepreneurs through
the Atal New India Challenges, according to the statement. Key Points:
a)
A
total budgeted expenditure of Rs 2,000 crore plus will be incurred in the
establishment and support of the beneficiaries.
b)
According
to the finance minister’s proclamation in the 2015 Budget speech, the mission
will be run by the NITI Aayog.
c)
The
AIM’s goals are to foster an ecosystem of innovation and entrepreneurship
across the country through interventions at the school, university, research,
MSME, and industry levels.
d)
The
AIM has concentrated on both infrastructural development and institution
formation, according to the statement.
4.
‘Tomb of Sand’ becomes first Hindi novel to get shortlisted for International
Booker Prize: In
the history of the International Booker Prize, the novel ‘Tomb of Sand’,
authored by Geetanjali Shree, has become the first Hindi language work of
fiction to be shortlisted for the prestigious literary prize. The novel has
been translated into English by Daisy Rockwell. The book Tomb of Sand will
compete with five other novels from around the world. The literary prize comes
with a cash award of 50,000 pounds, which is split equally between the author
and translator. The other five titles in the shortlist were announced:
a)
London
Book Fair include: ‘Cursed Bunny’ by Bora Chung, translated by Anton Hur from
Korean;
b)
‘A
New Name: Septology VI-VII’ by Jon Fosse, translated by Damion Searls from
Norwegian;
c)
‘Heaven’
by Mieko Kawakami, translated by Samuel Bett and David Boyd from Japanese;
d)
‘Elena
Knows’ by Claudia Piñeiro, translated by Frances Riddle from Spanish; and
e)
‘The
Books of Jacob’ by Olga Tokarczuk, translated by Jennifer Croft from Polish.
5.
National Safe Motherhood Day: 11th
April: In India, the National Safe Motherhood Day is observed every year on
April 11 to raise awareness about adequate access to care for women during
pregnancy, childbirth and postnatal services. National Safe Motherhood Day is
an initiative of the White Ribbon Alliance India (WRAI), to enforce that women
must have availability and adequate access to care during pregnancy childbirth
and postnatal services. The day also marks the birth anniversary of Kasturba
Gandhi, the wife of the father of the Nation Mohan Das Karam Chand Gandhi.
History of the day: In 2003, upon the
initiative of the White Ribbon Alliance, the Government of India declared the
national safe motherhood day to be held on April 11. 2022 marks the 19th
anniversary of the day. The first observation was held in 2003. India is the
first country in the world to officially declare National Safe Motherhood Day.
INTERNATIONAL UPDATES:
1.
World Parkinson’s Day: 11th April: Every year, April 11 is observed as World
Parkinson’s Day to raise awareness of Parkinson’s disease, which is a
progressive nervous system disorder. This year, the theme is integrated
healthcare. The day marks the birthday of Dr James Parkinson from London, who
was the first person to systematically described the six individuals with the
symptoms of Parkinson’s Disease. Additionally, the month of April is observed
as Parkinson’s Awareness Month.
2.
International Day of Human Space Flight: 12th April: The International
Day of Human Space Flight is celebrated annually on April 12 to mark the
anniversary of the first human space flight by Yuri Gagarin on April 12, 1961.
The day was proclaimed at the 65th session of the United Nations General
Assembly on April 7, 2011, a few days before the 50th anniversary of the
flight. In the Soviet Union, the day is observed as the International Day of
Aviation and Cosmonautics.’
History of the day: On 12 April 1961,
was the date of the 1st human space flight was carried out by Yuri Gagarin, a
Soviet citizen, who became the first person to journey into outer space. This
historic incident opened the way for space exploration for the benefit of all
mankind. 12 April was also the date of the 1st Space Shuttle STS-1 of Columbia launched
in 1981, which is also commemorated on this date.
OTHER UPDATES:
SPORTS
1. F1
Australian Grand Prix 2022 won by Charles Leclerc: Charles Leclerc
(Ferrari- Monaco) has won the Formula One (F1) 2022 Australian Grand Prix, held
on 10 April 2022 in Melbourne, Victoria. It was the third round of the 2022
Formula One World Championship. Sergio Pérez (Red Bull Racing-RBPT – Mexico)
came second while George Russell (Mercedes – Britain) came third. Verstappen
was on course for second place when his car failed with 18 laps to go. The
second Red Bull of Sergio Perez finished second, ahead of the Mercedes of
George Russell and Lewis Hamilton.
BANKING AND FINANCE
1.
Axis Bank and IDBI Bank have each been fined Rs 93 lakh by the RBI: The Reserve Bank of
India announced that it has fined IDBI bank and Axis Bank Rs 93 lakh each for a
variety of infractions, including those connected to KYC standards. The RBI, on
the other hand, stated that the penalties are based on regulatory compliance
issues and are not intended to rule on the validity of any transaction or
arrangement they have with their clients. Key Points:
a)
IDBI
Bank has also been fined Rs 93 lakh by the Reserve Bank of India.
b)
Axis
Bank has been fined Rs 93 lakh by the Reserve Bank of India for failing to
follow certain recommendations provided by the regulator, according to a press
release.
c)
The
private sector lender also broke several loan and advance provisions, as well
as Know Your Customer (KYC) guidelines and the “levy of penal costs for
non-maintenance of minimum balances in savings bank accounts,” according to the
complaint.
d)
IDBI
Bank was fined for failing to follow instructions on ‘fraud classification and
reporting by commercial banks and select financial institutions.’
e)
According
to another announcement, it was also punished for violating standards
on’strengthening the controls of the payment ecosystem between sponsor banks
and corporate customers such SCBs/UCBs’ and ‘cyber security framework.’
BUSINESS AND ECONOMY
1.
Two separate SEBI panels to review ownership norms of MFs, trustees: The Securities and
Exchange Board of India (SEBI) has formed two expert groups to look into the
responsibilities, qualifications, and functions of sponsors and trustees at
asset management firms (AMCs). A sponsor, similar to a promoter, provides funds
for the establishment of an AMC, whereas a trustee serves as a supervisor and
is responsible for safeguarding the interests of investors.
Key Points:
a)
SEBI
stated in a statement that an alternative set of eligibility standards might be
developed to allow new players who would otherwise be ineligible to function as
a sponsor to do so.
b)
Balasubramanian,
MD & CEO of Aditya Birla Sun Life AMC, will chair the working group on
sponsors.
c)
The
SEBI has intimated that it may enable private equity (PE)
firms to establish AMCs.
d)
The
working group’s mandate is to “recommend mechanisms for addressing conflict of
interest that may arise if pooled investment vehicles/private equity act as
sponsor; and to examine the need for sponsors to dilute their stake in asset
management companies from the current requirement of holding at least 40% of
the net worth and alternative pathways that may be adopted by sponsors in this
regard,” according to the statement.
2.
Amazon signed contract with three firms to launch its satellite internet: The tech firm has
secured up to 83 launches over a five-year period, which the company claims is
the greatest commercial launch vehicle procurement in history. Arianespace,
Blue Origin, and United Launch Alliance (ULA) have agreed to deploy the
majority of Amazon’s Project Kuiper satellites, which aim to provide
high-speed, low-latency broadband to a wide variety of clients around the
world. Key Points:
a)
The
contracts call for 18 launches on Arianespace’s Ariane 6 rockets, 12 launches
on Jeff Bezos’ Blue Origin’s New Glenn, with options for up to 15 more
launches, and 38 flights on ULA’s newest heavy-lift launch vehicle, the Vulcan
Centaur.
b)
The
announcement brings Amazon’s satellite internet constellation one step closer
to reality, as Elon Musk’s SpaceX continues to launch more Starlink satellites,
bringing the total number of Starlink satellites launched to about 2300, and
increasing Starlink’s global subscriber base to about 2.5 lakh.
c)
Amazon’s
current agreement with ULA comes in addition to a previous agreement with the
space launch company to acquire nine Atlas V vehicles, which was revealed in
April of last year.
d)
In
addition, Project Kuiper hopes to fly two test missions aboard ABL Space Systems’
RS1 rocket later this year.
e)
According
to Amazon, the two prototype satellites – KuiperSat-1 and 2 – will incorporate
most of the technology and subsystems that will power the company’s production
satellite design, and are an essential step in the development process.
f)
The
US Federal Communications Commission approved Amazon’s Project Kuiper in July
2020, with a constellation of 3,236 satellites in low Earth orbit (LEO).
g)
The
corporation unveiled Project Kuiper’s low-cost consumer terminal, which could deliver
rates of up to 400 Mbps.
Note: Amazon CEO: Andrew R. Jassy;Amazon
Founded: 5 July 1994
DEFENCE
1.
DRDO successfully flight-tests Solid Fuel Ducted Ramjet (SFDR) technology: The Defence
Research and Development Organisation (DRDO) successfully flight tested “Solid
Fuel Ducted Ramjet” (SFDR) booster on April 08, 2022, at the Integrated Test
Range (ITR), Chandipur off the coast of Odisha. The test met all the mission
objectives. The SFDR-based propulsion enables the missile to intercept aerial
threats at very long range at supersonic speeds. It has an extremely high
projected range of 350 km.
About the SFDR technology:
a)
The
SFDR-based propulsion enables the missile to intercept aerial threats at very
long range at supersonic speeds. The performance of the system has been
confirmed from the data captured by a number of range instruments like
Telemetry, Radar and Electro-Optical Tracking Systems deployed by ITR.
b)
The
SFDR has been developed by Defence Research and Development Laboratory,
Hyderabad in collaboration with other DRDO laboratories such as Research Centre
Imarat, Hyderabad and High Energy Materials Research Laboratory, Pune.
Note: Chairman DRDO: Dr G Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.
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