NATIONAL UPDATES:
1.
Maharashtra launches scheme to offer personal loans for prisoners: The Maharashtra
government has introduced a scheme that allows prisoners to obtain personal
loans from banks of up to Rs. 50,000 to help their families improve their
living conditions and meet expenses related to their legal matters. It will be
a first of its kind initiative in our country. The Maharashtra State
Co-operative Bank would provide loans up to 50,000 under the scheme at a 7%
interest rate. The scheme would be implemented in Yerawada Central Jail in
Pune, Maharashtra, on a pilot basis. This type of loan is called a “khavti”
loan, and benefits approximately 1,055 prisoners.
Under the scheme, the loan facility will be
decided on the basis of the prisoner, prisoner’s loan limit, duration of
punishment, possible relief from it, age, estimated annual working day and
minimum daily income. The loan will not require a guarantor. There will be no
need for a guarantor. It will be disbursed on a personal bond. The bank will
decide the amount based on earnings, skill, and daily wages.
Note: Maharashtra Capital: Mumbai;
Maharashtra Governor: Bhagat Singh Koshyari; Maharashtra Chief Minister: Uddhav
Thackeray.
2. NV
Ramana, the Chief Justice, launches a software named FASTER: Chief Justice of
India NV Ramana unveiled the ‘Fast and Secured Transmission of Electronic
Records’ (FASTER), a digital platform that allows the supreme court to send
interim orders, stay orders, and bail orders to the appropriate authorities via
a secure electronic channel. The online introduction of the FASTER programme
was attended by CJI Ramana, Justices AM Khanwilkar, DY Chandrachud, and Hemant
Gupta, as well as Chief Justices and Judges of High Courts.
Key Points:
a)
The
CJI has launched software to convey court orders quickly and securely via
electronic means, a measure that will aid in judicial order transmission.
b)
He
emphasised the importance of court orders issued by higher courts being safely
communicated without tampering by outside parties.
c)
The
initiative ‘FASTER‘ was initiated when a bench led by CJI Ramana took suo motu
notice of delays in convicts’ release even after they had been granted bail,
citing reasons such as non-receipt or non-verification of legal orders.
d)
The
Registry, in partnership with the NIC, created the FASTER system on a war
footing, according to a Supreme Court press release.
e)
So
far, 73 Nodal Officers have been selected at various levels to ensure that this
system reaches all of India’s districts. By constructing a safe conduit, all
Nodal Officers have been connected through a specific judicial communication
network JCN.
3.
Manipur govt tie-up with Samsung to start Sports Digital Experience Centre: The state
government of Manipur has signed a Memorandum of Understanding (MoU) with
Samsung Data System India Pvt Ltd and Abhitech IT Solutions Pvt Ltd for setting
up a world-class “Sports Digital Experience Centre” as a domain of Manipur
Olympian Park and Khuman Lampak Sports Complex. The MoU was exchanged in the
presence of chief minister N Biren Singh at the cabinet hall of the Chief
Minister’s Secretariat.
With the setting up of the Digital
Experience Centre, various achievements of Olympians from Manipur will be
digitally displayed making the public aware about their achievements. Such
initiatives will help in improving and enhancing the performance of sporting
talents through the latest technologies like sports analytics, virtual reality
and mixed reality among others, he maintained, adding that it will also
motivate younger generations to opt for sports as a career.
Note: Manipur Capital: Imphal; Governor:
La. Ganesan.
4.
Vishwas Patel re-elected as chairman of Payments Council of India: Vishwas Patel has
been re-elected as the Chairman of Payments Council of India (PCI) for the
second time in 2022, previously he was elected as a Chairman of PCI in the year
2018. In 2013, he served as Co-Chairman of PCI. PCI is a payment ecosystem
industry body and is a part of the Internet and Mobile Association of India
(IAMAI).
About the Payments Council of India: The Payments
Council of India works to promote the growth of the Indian payment industry and
promote a cashless economy in the country. It works with other important
financial and banking Institutions and Organisations to turn India into a
‘cashless society. This industry body for digital operators in the country is
said to be in its final stages of submitting its independent application to
become a self-regulatory organisation (SRO) for digital payments, under the
mandate of the Reserve Bank of India (RBI).
INTERNATIONAL UPDATES:
1.
World’s Biggest Electric Cruise Ship made its maiden voyage in China: The largest
electric cruise ship in the world has returned back to port in Yichang in
central Hubei province, China after travelling up and down the Yangtze River
for its maiden voyage. This cruise ship has been powered by a
7,500-kilowatt-hour massive-sized marine battery. This battery has been
provided by Contemporary Amperex Technology, the No. 1 battery manufacturer for
electric cars in the world.
The developer of this ship, China Yangtze
Power has plans to use this electric ship as the starting point for expanding
the marine electric vehicle market in China. The name of the ship is Yangtze
River Three Gorges 1 and it is a 100 per cent electric cruise ship that has
been developed and built in China. This ship is 16 meters wide and 100 meters
long and has the capacity to carry around 1,300 passengers.
Note: China Capital: Beijing; China
Currency: Renminbi; China President: Xi Jinping.
OTHER UPDATES:
SPORTS
1.
Meghalaya would be hosting 83rd National Table Tennis Championship 2022: Meghalaya is geared
up to host the 83rd National Table Tennis Championship 2022, which will take
place at the SAI Indoor Training Centre, NEHU in Shillong from April 18 to 25.
This is the second time the Northeast has hosted the world’s largest table
tennis tournament.
Key Points:
a)
During
a press conference, Meghalaya Chief Minister Conrad K Sangma stated that the
tournament is one of the largest sports events that the state has hosted to
date, among others.
b)
The
State is expecting around 650 people to attend, with 450 of them being players
and the rest being coaches and support personnel. He went on to say that the
state is expecting a variety of officers from several states, including
Haryana’s Deputy Chief Minister.
c)
This
tournament is being hosted in honour of the State’s 50th anniversary of
statehood, he said, adding that the cost of hosting the tournament is projected
to be 1.5 crore rupees, with a total of 10 players from the State scheduled to
compete.
BANKING AND FINANCE
1.
RBI extended the deadline for banks to utilise lockable cassettes in ATMs by a
year: The
Reserve Bank of India has delayed the deadline for banks to use lockable
cassettes in their ATMs that can be swapped during cash replenishment by a
year, till March 31, 2023. The decision was made after the RBI received
representations from various banks and the Indian Banks’ Association noting
difficulty in achieving the deadline, according to a notification released yesterday.
Key Points:
a)
It
has instructed the banks to establish an internal roadmap that has been
approved by the Board in order to meet the extended deadline and submit a
quarterly status report, and it has requested the banks’ boards to monitor
progress to assure compliance.
b)
Most
ATMs are currently replenished via open cash top-ups or by placing cash into
the machines on the spot. The RBI requested that this approach be replaced by
guaranteeing that lockable cassettes are swapped when currency is replenished
in ATMs.
c)
Previously,
banks were expected to begin using lockable cassettes in a gradual way, with at
least one-third of their ATMs protected by March 31, 2021. The deadline was
later extended until March 31, 2022.
2.
HDFC ERGO launched “VAULT” digital customer engagement and rewards program: HDFC ERGO General
Insurance Company has launched its VAULT program. It is India’s first
industry-based digital customer engagement and rewards program. This program is
an experiment to test a new idea under the Regulatory Sandbox of IRDAI
(Insurance Regulatory and Development Authority of India). The testing period
will be till 14th May 2022 and further continuance of the product beyond the
testing period will be subject to IRDAI approval.
About the VAULT program: VAULT program is a
customer engagement-based membership program. Under the program, eligible
customers will be incentivized by way of reward points on meeting the specified
criteria or actions. Maximum customer enrolments under this program will be
10,000. This reward program will cover Optima Restore health insurance
customers.
Note: HDFC ERGO General Insurance Company
CEO: Ritesh Kumar; HDFC ERGO General Insurance Company Headquarters: Mumbai;
HDFC ERGO General Insurance Company Founded: 2002.
BUSINESS AND ECONOMY
1.
GoI keeps interest rates on Small Savings Schemes unchanged for Q1 (April-June
2022): The
Ministry of Finance has decided to keep the interest rates unchanged on small
savings schemes or post office schemes for the Quarter -1 of FY2022-23
(April-June 2022). The interest rates on the various instruments for April-June
2022 range from 4.0 per cent to 7.6 per cent. It must be noted that the
Government notifies the Interest rates for small savings schemes on a quarterly
basis. This is the eighth consecutive quarter when the interest rates on small
savings instruments remained unchanged.
Interest Rates for Quarter-1 (April-June)
of 2022-23 are listed below:
|
Small Savings
Instruments |
Interest Rate For
Apr-June 2022 |
Compounding frequency |
|
Savings deposit |
4.00% |
Annually |
|
One-year time deposit |
5.50% |
Quarterly |
|
Two-year time deposit |
5.50% |
Quarterly |
|
Three-year time
deposit |
5.50% |
Quarterly |
|
Five-year time deposit |
6.70% |
Quarterly |
|
Five-year recurring
deposit |
5.80% |
Quarterly |
|
Senior Citizen Savings
Scheme |
7.40% |
Quarterly and Paid |
|
Monthly Income Account |
6.60% |
Monthly and Paid |
|
National Savings
Certificate |
6.80% |
Annually |
|
Public Provident Fund
Scheme |
7.10% |
Annually |
|
Kisan Vikas Patra |
6.90% |
Annually |
|
Sukanya Samriddhi
Account Scheme |
7.60% |
Annually |
2.
Microsoft launches ‘Startups Founders Hub’ platform: Microsoft launched
a new digital and inclusive platform for startup founders in India. The
platform called as ‘Microsoft for Startups Founders Hub’ in India, will support
startup founders in India at every stage of their startup journey. This
platform will offer over USD 300,000 worth of benefits and credits to startups,
including free access to the technology, tools, and resources from the tech
giant and partners. The initiative will help the Startups to gain mentorship
and skilling opportunities with industry experts and Microsoft Learn. Microsoft
for Startups Founders Hub is designed specifically for early-stage startups to
lower the barriers of business creation, act as a catalyst for entrepreneurship
and innovation, and contribute to easing the journey from an idea to a unicorn.
Note: Microsoft CEO and Chairman: Satya
Nadella; Microsoft Headquarters: Redmond, Washington, United States.
DEFENCE
1.
Two battalions of the Dogra regiment were presented with the President’s
Colours by the army chief: During an amazing Color Presentation Parade held at
the Dogra Regimental Centre, Faizabad (UP), General MM Naravane, Chief of the
Army Staff, gave the prestigious President’s Colours to two battalions of the
Dogra Regiment, namely 20 DOGRA and 21 DOGRA.
Key Points:
a)
General
NC Vij (retd), former COAS and Honorary Colonel of The Dogra Regiment, Army
Commanders of Southern Command and Central Command, as well as a large number
of active and retired people, were present at the Color Presentation Parade.
b)
Following
the parade, the Army Chief praised the Dogra Regiment‘s long traditions in all
aspects of military life, including operations, training, and sports.
c) The COAS also praised the newly raised units for their outstanding performance in such a short period of time, and wished all ranks well in their efforts to serve the country with pride.
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