NATIONAL UPDATES:
1. Mahindra & Mahindra sign MoU with MSDE for ‘Drone Didi’ Pilot Project: To boost rural women’s empowerment, the Union Ministry of Skill Development and Entrepreneurship (MSDE) has signed a MoU with Mahindra & Mahindra Ltd. to conduct two Pilot Projects under the Drone Didi Yojana at Noida and Hyderabad. The pilot projects to train women to operate drones for agricultural purposes will be held at the National Skill Training Institute in Noida and Hyderabad.
The company will train 500 rural women farmers to operate drones for agricultural purposes, such as fertilizing crops, monitoring crop growth, and planting seeds. Mahindra and Mahindra will also offer training in skills such as drone flying, data analysis, and drone maintenance.
2. Wipro appoints Vinay Firake as CEO for APMEA region: Wipro, a leading IT major, has appointed Vinay Firake as the Chief Executive Officer (CEO) of Asia Pacific, India, Middle East, and Africa (APMEA) strategic market unit (SMU) Firake will report to Srini Pallia and will also join Wipro’s executive board. He succeeds Anis Chenchah, who is stepping down to pursue opportunities outside the organisation, the company said in a statement. Firake will be based in Dubai. He has been with Wipro for 26 years, serving in various leadership roles.
3. Chandrasekaran appointed Chairman of Tata Electronics: The current chairman of Tata Sons, Chandrasekaran will also serve as the chairman of Tata Electronics. Chandrasekaran will replace Banmali Agarwal in this role, pending regulatory approval. Chandrasekaran’s appointment reflects the Tata Group’s commitment to the semiconductor business.
INTERNATIONAL UPDATES:
1. India extends budgetary support of $50m to Maldives: In a goodwill gesture, India has decided to extend vital budgetary support to the Maldives government with the rollover of a USD 50 million Treasury Bill for another year on the Maldivian government’s special request. The State Bank of India has subscribed for one more year to the USD 50 million Government Treasury Bill, issued by the Ministry of Finance of Maldives, upon maturity of the previous subscription. These Government Treasury Bills are subscribed by SBI under government-to-government, a unique arrangement at zero cost (interest-free) to the Government of Maldives.
2. TCS announces creation of Global AI Center of Excellence in France: Tata Consultancy Services announced the creation of a Global Artificial Intelligence (AI) Centre of Excellence in Paris,France during the Choose France Summit. The TCS AI Centre of Excellence in Paris will leverage TCS’ global ecosystem of startups, academia, and research organisations to bring the best of global capabilities to French companies. The new AI centre will be based in the upcoming TCS PacePort in the La Défense area of Paris, which will be inaugurated in June 2024, becoming the seventh such facility in TCS’ global Pace network, following Amsterdam, London, New York, Pittsburgh, Toronto, and Tokyo.
3. China surpasses US, becomes India’s top trading partner with $118.4 billion business: GTRI: China has emerged as India’s largest trading partner in the FY 2023-24 with $118.4 billion two-way commerce, narrowly edging past the US, according to the data of economic think tank GTRI (Global Trade Research Initiative). The bilateral trade between India and the US stood at $118.3 billion in 2023-24. Washington was the top trading partner of New Delhi during 2021-22 and 2022-23. According to the report, India’s exports to China rose by 8.7 per cent to $16.67 billion in the last fiscal. The main sectors which recorded healthy growth in exports to that country include iron ore, cotton yarn/fabrics/madeups, handloom, spices, fruits and vegetables, plastic and linoleum.
4. India signs 10-Year contract to operate Iran’s Chabahar Port: India and Iran have signed an agreement under which India will operate the strategically important Shahid Beheshti terminal of Chabahar Port of Iran for the next 10 years. The agreement was signed in the presence of Union Minister for Ports, Shipping & Waterways Minister Sarbananda Sonowal and Iranian Minister for Roads & Urban Development Mehrdad Bazrpash. Till now India operated the Shahid Beheshti Port of Chabahar on a short-term contract which was renewed periodically. This is the first international terminal which will be operated by India.
OTHER UPDATES:
DEFENCE
1. Sanjay Bhalla assumes role of Chief of Personnel in Indian Navy: Vice Admiral Sanjay Bhalla has assumed charge as Chief of Personnel (CoP) of Indian Navy. Vice Admiral Bhalla, who joined the Indian Navy on 1 January 1989, has served for 35 years in various roles. He Specialized in communications and electronic warfare and served on several front-line warships.
SPORTS
1. Rathika, Senthil to lead India in 22nd Asian Squash Championship: The Squash Rackets Federation of India (SRFI) has announced the Indian team, which will participate in the 22nd Asian Team Squash Championships. 22nd Asian Team Squash Championship will be held in Dalian, China from 12 to 16 June 2024. Velavan Senthilkumar will lead the Indian men’s team while Rathika Seelan will lead the women’s team.
2. Indian Gymnast Srishti Khandagale wins Silver at Asian Championships: India’s Srishti Khandagale scripted history by becoming the first ever Indian to win a medal at the Asian Trampoline Gymnastics Championships. She clinched the silver medal in Women’s Individual Age group category at the 6th Asian Trampoline Gymnastics Championship held in Hong Kong, China.
Kazakhstan’s Dolgopolova secured the gold medal, while Hong Kong’s S Hung won the bronze.
3. ITF Tournament Junior 30 inaugurated in Lucknow: International Tennis Federation, ITF tournament Junior 30 was inaugurated in Uttar Pradesh ADG Traffic B.D Paulson graced the event as a chief guest. About 125 international players of junior boys and girls category including players from Ukraine and America are participating in this competition. Many players from UP are also in the fray for the coveted title.
4. 6 Indian Wrestlers Qualify for Paris Olympics: At Paris Olympics 2024, India will have six wrestlers in its contingent with five quotas coming through women. Aman Sehrawat and Nisha Dahiya took India’s number of quotas to six at the World Olympic Wrestling Qualifiers in Istanbul, Turkey. Earlier, Vinesh Phogat in the 50kg category, Antim Panghal in 53kg, Anshu Malik in 57kg and Reetika Hooda in 76kg category had already qualified for Paris Games at different qualifying events.
BANKING AND FINANCE
1. Retail Inflation eases to 4.83% in April 2024: Retail inflation eased marginally to 83% in April on an annual basis from 4.85% in March last month, as per government data released The inflation rate has stayed within the Reserve Bank of India’s (RBI) tolerance range of 2-6%. The National Statistical Office (NSO) reported that inflation in the food basket rose to 8.7% in April from 8.52% in March.
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