NATIONAL UPDATES:
1. Hero
MotoCorp's Board appoints Niranjan Gupta as new CEO: The board of Hero Motocorp has appointed Niranjan Gupta
as the new CEO with effect from May 1, 2023. He has been elevated
from his current designation of Chief Financial Officer (CFO) and Head-Strategy
and Mergers and Acquisitions (M&A). He has played an important role in
Hero Motocorp’s partnerships with Harley Davidson and Zero Motorcycles. While Pawan
Munjal will continue as Executive Chairman and Whole-Time
Director on the company's Board.
2. Praveer
Sinha re-appointed as CEO and MD of Tata Power: Tata
Power has approved the reappointment of Praveer Sinha as CEO and MD
for four years, effective from May 1, 2023. His present tenure as a CEO and MD
is scheduled to conclude on April 30, 2023. Currently, He is also serving
as the Chairman of the CII Western Region council and co-chairs the
CII National Committee on Power. He has also contributed to setting up the
first international incubator in India for promoting innovations in the clean
energy space.
3. Justice
T S Sivagnanam appointed as acting Chief Justice Of Calcutta HC: The central government has approved the appointment of Justice TS
Sivagnanam as Acting Chief Justice of the Calcutta High Court with effect
from March 31, 2023. He succeeded the current Chief Justice Prakash
Shrivastava who retired. He enrolled in the Bar Council of Tamil Nadu in
September 1986. He was appointed as an additional judge of the Madras High
Court in March 2009. He was transferred to the Calcutta High Court in October
2021.
4. PNGRB
approves unified tariff for natural gas pipeline:
Petroleum and Natural Gas Regulatory Board approved a unified tariff for a
natural gas pipeline of Rs 73.93 per metric million British thermal units
(MMBtu), effective from April 1, 2023. Aim: To boost the consumption of
natural gas and increase its share in India’s energy basket from 6.2% to 15% by
2030 Three zones for unified tariff:
· 1st: Up to the distance of 300 km from the source
· 2nd: More than 300 km and up to 1,200 km
· 3rd: Remaining length of the grid system
5. India targeting defence exports worth Rs 40,000 crore by 2026:
Defence Minister Rajnath Singh addressed the ‘Rising India Conclave’ in New
Delhi on March 30, 2023. During the event, he informed that India aims to
achieve defence equipment exports target worth 40 thousand crore rupees by
2026. In the last few years, defence exports have witnessed
a quantum jump from 900 crore rupees to 14 thousand crore rupees (FY23). He
also highlighted the progress made by the country in all sectors.
6. Jaipur to get India’s 2nd largest cricket stadium
named after Anil Agarwal: Vedanta’s Hindustan Zinc
Limited (HZL) has signed an MoU with the Rajasthan Cricket
Association for the development of the world’s third-largest cricket
stadium in the village of Chonp in Jaipur. Vedanta’s HZL will spend INR 300
crore on the stadium, one of the largest corporate investments in India’s
sports infrastructure. The stadium would be named as Anil Agarwal International
Cricket Stadium, Jaipur. The stadium facilities will be spread across 100 acres
and have a seating capacity of over 75,000. In terms of the size of the playing
field area this stadium would be the largest in the world.
7. First G20 disaster risk reduction working group
meeting begins in Gandhinagar: The First G20 Disaster Risk Reduction Working Group meeting under
India’s G20 Presidency began at Gandhinagar, Gujarat. Principal Secretary
to the Prime Minister Dr. P K Mishra and Minister of State for Communications
Devusinh Chauhan inaugurated the meeting. Around 100 delegates from the G20
member countries, invitee countries and from nine international organizations
are participating in the three-day event. Five priority areas have been
identified for the meeting which include an early warning for all, resilient
infrastructure, and improving the National System for Disaster Risk Reduction.
8. 30 March – Rajasthan Day: March 30 is celebrated across the state
to mark the formation of the state of Rajasthan. On this day in 1949, the
four states, namely Jodhpur, Jaipur, Bikaner, and Jaisalmer, joined with the
United State of Rajasthan, and the region came to be known as Greater
Rajasthan. Formerly, Rajasthan was known as Rajputana, which means “The Country
of the Rajputs”. The meaning of Rajasthan is “The Abode of the Rajas”. It is
located in the northwest part of the country and is the home of cultural
diversity.
INTERNATIONAL UPDATES:
1. India
falls 6 spots to rank 144 in Passport Index 2023:
According to the Passport Index 2023, released by Arton
Capital, the India passport ranking for 2023 has slipped
to 144 with a mobility score of 70. In 2023, India ranked 138th out
of 199 countries. The ranking was topped by the United Arab Emirates
(UAE) with a mobility score of 181, followed by Sweden, Germany,
Finland, Luxembourg, Spain, France, Italy, the Netherlands, and Austria. Note:
India ranked 85th out of 199 countries in the Henley Passport Index
2023.
2. Himachal Pradesh’s Kangra tea gets European GI tag: Kangra Tea from Himachal Pradesh has been granted the European
Geographical Indication (GI) tag. This is an important certification that
recognizes the tea as originating from a specific region. The tag will help
Kangra tea to get an opportunity to enter the European market. Kangra tea is
renowned for its distinctive taste and colour. Green tea has a subtle woody
aroma, while black tea has a sweet, lasting aftertaste.
The
geographical features of the area are said to be responsible for the tea’s
distinctive qualities. In India, Kangra tea received the Geographical Indication
designation in 2005 Since 1999, the cultivation and development of tea have
improved constantly in the Kangra region of Himachal Pradesh.
3. Sheikh Mansour Bin Zayed Al Nahyan appointed as
Vice-President of UAE: The President of the United Arab Emirates (UAE), Sheikh Mohamed bin
Zayed Al Nahyan has appointed Sheikh Mansour bin Zayed Al Nahyan, his
brother, as the Vice President of the country. The incumbent Vice
president Sheikh Mohammed Bin Rashid Al Maktoum, will also continue in the same
role.
Sheikh
Mansour has been active in UAE politics since 2004, when he was appointed as
Minister of Presidential Affairs. He has overseen the Presidential Court and
the Ministry of Presidential Affairs, as well as presiding over several
government institutions, including the Ministerial Development Council and the
Emirates Investment Authority.
4. 29 March 2023 – World Piano Day: World Piano Day is celebrated annually
on the 88th day of the year. This annual event takes place on March 29 in
non-leap years and March 28 in leap years. This event aims to celebrate the
melodious history of the ‘King of Musical Instrument’ To provide a platform for
piano-related initiatives that will advance musical innovation and spread the
joy of playing the piano. World Piano Day was first celebrated on March 28th,
2015.
5. 31 March – World Backup Day: World Backup Day is observed every year
on 31 March. Objective – To raise awareness about the importance of data
backup and protection. The day encourages individuals and organizations to take
proactive steps to safeguard their data and prevent the loss of important
information due to hardware failure, cyberattacks, or other unforeseen events.
OTHER UPDATES:
BANKING AND FINANCE
1. World
Bank announces $100 million as loan for Odisha: The
Board of Executive Directors of the World Bank has approved a $100 million
loan to Odisha. Reason: To robust its early forecasting systems for
improved response to disasters and enhance its social protection coverage for
poor and vulnerable households through digital platforms Odisha is vulnerable
to natural disasters with cyclones hitting the state every 15 months on
average. The Program has a maturity of 12.5 years with a grace period of 3
years.
2. BharatPe,
NITI Aayog' WEP ties up to support women entrepreneurs: BharatPe, under its corporate social responsibility initiative
BharatPe Cares has joined hands with NITI Aayog’s Women Entrepreneurship
Platform (WEP) to extend its support to women entrepreneurs in the
country. Focus area: To facilitate the development of a first-of-its-kind
aggregator platform that gives access to peer support, mentorship, networking
channels According to the 6th economic census, women comprise only 13.76% of
the total entrepreneurs in India.
3. Aditya
Birla Health Insurance, UCO Bank sign bancassurance pact: Aditya Birla Health Insurance Co. Ltd. (ABHICL) has signed
a bancassurance pact with UCO Bank for the distribution
of health insurance products. This partnership enables ABHICL to expand its
national footprint by leveraging UCO Bank’s widely distributed network of 3,164
branches. ABHICL now has 17 bancassurance partners with over
80,000 direct-selling agents, across the country.
CEO,
Aditya Birla Health Insurance: Mayank Bathwal
4. SBI,
Godrej Capital sign MoU to offer banking products, services: Godrej Capital has signed a strategic MoU with the State Bank
of India (SBI) for various financial products and offerings. Both
organizations joined together to make financial solutions more accessible and
affordable, unlocking opportunities for financial inclusion. The association
leverages the strengths of both groups by facilitating a gamut of financial
services provided by the bank such as banking products, credit cards, and
wealth management.
5. Axis
Bank, Shriram Housing Finance enter into co-lending pact: Axis Bank and Shriram Housing Finance Limited (SHFL) signed a
partnership agreement under the co-lending model through the Yubi Co.Lend
platform. Both lenders will offer secured MSME loans and home loans
to the middle and low-income segment borrowers based in rural and
semi-urban regions. It will leverage the financial expertise of bank, and
the loan processing technology of SHFL to assess the credit profile
of borrowers and provide loans at competitive interest rate
6. Ambit
Finvest, Bajaj Finserv join hands for digital lending platform: Ambit Finvest has partnered with SKALEUP (digital technology services
arm of Bajaj Finserv Direct) to develop a D2C
(direct-to-customer) instant loan application. Under this partnership,
they will provide give business loans to MSME business owners through
a completely paperless and automated digital onboarding process. Ambit Finvest
is the NBFC of the Ambit Group. CEO of Bajaj Finserv Direct: Ashish Panchal
AWARDS AND HONOURS
1. Naveen Jindal conferred with ‘Lifetime Achievement Award’ by University of Texas: The University of Texas at Dallas has conferred Indian industrialist Naveen Jindal with a lifetime achievement award for his accomplishments in industry, politics and education. Jindal is the second person to receive the Lifetime Achievement Award from the University of Texas at Dallas after noted Nobel Laureate Aziz Sancar. This is the highest award that the University of Texas, Dallas bestows on alumni to recognize a graduate whose contributions have bettered society. Jindal, an alumnus of UT Dallas 1992 batch, received the award for his outstanding achievements in industry, politics and academia.
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