Daily Current Affairs April 29 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

IndusInd Bank to enter insurance, mutual funds business & launch digital bank ‘Indie’      

• In a bid to expand its portfolio beyond its core banking business, IndusInd Bank is planning to foray into mutual funds, insurance and broking sectors.
• The bank is likely to approach the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI) and other regulators to get the necessary licences.

Daily Current Affairs April 28 2023

CURRENT AFFAIRS : BANKING & FINANCE

NPCI Bharat BillPay introduces the NOCS platform to process ONDC transactions   

• NPCI Bharat BillPay Ltd (NBBL) has launched the NOCS platform to provide reconciliation and settlement services for transactions undertaken on the Open Network for Digital Commerce (ONDC) network.
• The services, provided under the guidance of RBI, will serve as the foundation for the ONDC network and enable smooth, secure and timely transfer of funds to network participants.
• The NOCS platform is integrated with banks, fintechs and e-commerce players, and will soon go live with the first set of 5 banks on ONDC-AU Small Finance Bank, Axis Bank, HDFC Bank, IDFC First Bank, and YES Bank.

Daily Current Affairs April 27 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

RBI cancels Adoor Co-operative Urban Bank’s banking licence, allows to operate as a non-banking Institution  

• The Reserve Bank of India (RBI) has cancelled the banking licence of Kerala-based Adoor Co-operative Urban Bank and has allowed it to function as a non-banking institution.
• The cancellation of the bank’s license and its new categorisation as a non-banking Institution has been done under various sections of the Banking Regulation Act, 1949.
• The Bank was granted a license in January 1987.
• Further, the bank has to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as a non-banking Institution.

What is the difference between Bank & NBFC?

• According to RBI, the difference between a bank and NBFC is that a bank is a government-authorised entity that provides banking services to the people, whereas NBFC is a company providing banking services to the people without holding a bank licence.

Daily Current Affairs April 26 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

HDFC Bank & Axis Bank to acquire a 9.94% stake each in Go Digit’s life insurance business     

• Two of India’s largest private lenders, Axis Bank and HDFC Bank, have signed definitive agreements to acquire a 9.94% equity stake each in the Go Digit Life, the life insurance business of insurtech unicorn Go Digit, which is set to go public.

Daily Current Affairs April 25 2023

CURRENT AFFAIRS : BANKING & FINANCE

InPrime Finserv Officially Recognized as Non-Banking Financial Company from Reserve Bank of India

• InPrime Finserv, a financial services start-up catering to the informal economy, has obtained a Certificate of Registration (COR) from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC).
• With this license, InPrime joins an exclusive group of startups that have received approval from the RBI to build a lending business.
• The company plans to commence operations in Bangalore in the coming months and gradually expand its presence in Karnataka and Tamil Nadu, playing a significant role in promoting financial inclusion in India.

Daily Current Affairs April 23 & 24 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

AIIB to Open First Overseas Office in Abu Dhabi, United Arab Emirates

• The Asian Infrastructure Investment Bank (AIIB) and the United Arab Emirates (UAE) signed a host member agreement to officially open in Abu Dhabi the Bank’s first overseas office, an Interim Operational Hub (the Hub).
• Jin Liqun, President and Chair of the Board of Directors of AIIB, joined His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and UAE Governor of AIIB, during the signing ceremony in Abu Dhabi.

Daily Current Affairs April 22 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

Federal Bank signs agreement with Agri Fintech KiVi as Banking Correspondent    

• Federal Bank has entered into a Banking Correspondent agreement with Chennai-based KiVi, an agri fintech start-up operated by Agrosperity Tech Solutions, with a view to scaling and expanding its agri lending portfolio in Tamil Nadu (TN).
• Federal Bank launched the instant KCC platform in September 2022.
• It is claimed to be the first of its kind in agriculture lending, it offers farmers convenience and turnaround time.

Syllogism Tricks to Solve Reverse Syllogism Questions – New Pattern

 

What is Reverse Syllogism?

Reverse Syllogism means Conclusions will be given and you have to find out which statements follow these conclusions.

Tricks to be Remembered Before Solving Reverse Syllogism

The best way to approach Reverse syllogism is elimination method. Before eliminating an option we must take note on the golden rules. Before moving to rules we must know the basic terms used in solving reverse syllogism.

What are Positive Terms?

Positive terms are nothing but All and Some were the positive terms.

What are Negative Terms?

Negative terms are nothing but No and Some Not were the negative terms.

What are Universal Positive statements?

When all the statements were positive in an option, then it is called Universal positive.

What are Universal Negative statements?

When all the statements were negative in an option, then it is called Universal negative.

In how many years will SBI Clerk become a PO? Check SBI Clerk To PO Promotion Details

 SBI Clerical to officer promotion: In general, the Clerical Cadre and Officer Cadre posts make up a bank’s staff. Following their corresponding tests and interviews, candidates are promptly hired as Clerks and Officers. Yet, a clerk can decide to switch to the officer cadre after working for a while. Most of the aspirants are eager to know n how many years will SBI Clerk become. Here is the answer to it, after a minimum of three years, an SBI Clerk may be promoted to the position of SBI PO by various ways provided below in this article. As probationary officers are hired directly, clerks cannot be directly promoted to PO posts. Once the candidates complete a certain years as clerks they can be promoted as TOs (Trainee Officers) or JMGS – 1. Clerks might move to the officer cadre (Junior Management Grade Officer Scale -1). Also, we have added the details of how to get promotion from clerk to PO in SBI, sbi clerk yearly increment, SBI clerk roles and responsibilities, SBI Clerk hierarchy, SBI Clerk joining extension, SBI Clerk to PO promotion time details, etc., in this article. Proceed through this article further and get to know in how many years will SBI Clerk become a PO and SBI clerk to PO promotion time details.

SBI Clerk to PO Promotion

Aspirants selected as clerk want to know how the SBI Clerk to PO promotion can be done. The SBI Clerk candidates can shift to PO posts based on the following ways mentioned below.

(i) Internal Examination:

Daily Current Affairs April 21 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

IndusInd Bank signs $100 million loan agreement with JBIC  

• IndusInd Bank’s GIFT City IBU (IFSC Banking Unit) branch has entered into a $100 million long-term loan agreement with the Japan Bank for International Cooperation (JBIC) to foster the growth of Japanese construction equipment companies in India.
• The funds raised will be used to provide need-based credit facilities to upstream and downstream companies that comprise the supply chain of Japanese original equipment manufacturers (OEMs) in India,
• This is the first of its kind lending by JBIC through any IFSC Banking unit at GIFT City.

Daily Current Affairs April 20 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

UPI Most Preferred Mode for Digital Payments in India in 2022  

• As per the India Digital Payments Annual Report for 2022 released by global payments player Worldline India, the most preferred medium for digital payments was Unified Payments Interface (UPI) in 2022.

Key Highlights : 

• A total of 8,792 crore digital payments were undertaken in 2022 worth ₹149.5 lakh crore.
• The total number of transactions in UPI jumped by 70% in 2022, pushing the count up to 74 billion.

Daily Current Affairs April 19 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

CGTMSE ups guarantee coverage for MSEs from Rs 2 crore to Rs 5 crore

• The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has increased the coverage ceiling under its Credit Guarantee Fund Scheme from ₹2 crore to ₹5 crore per borrower for credit facilities extended by lending institutions to Micro and Small Enterprises (MSEs).
• This move is expected to encourage the public and private sector banks, Member Financial Institutions and foreign banks to step up loans to MSEs.

Key Highlights :

• As per Reserve Bank of India (RBI) data, the changes are effective April 1,2023 comes when the loan growth to the MSE segment slowed to 13.2% year-on-year as on February 24, 2023 against 24% y-o-y as on February 25, 2022,
• As on February 24, 2023, the scheduled commercial banks’ credit to MSEs stood at ₹5,87,494 crore compared with ₹5,18,873 crore as on February 25, 2022.
• The annual guarantee fee (AGF), which is generally passed on to the borrowers for loans up to ₹10 lakh has been reduced to 0.37% (from 0.75%) and for loans above ₹10 lakh up to ₹50 lakh to 0.55% (from 1.10%).
• The AGF for loans above ₹50 lakh up to ₹1 crore is 0.60%; above ₹1 crore up to ₹2 crore (1.20%); and for loans above ₹2 crore up to ₹5 crore (1.35%).
• Earlier, there was a single slab of ₹50 lakh up to ₹2 crore for which the AGF was 1.20%.

About CGTMSE : 

• CGTMSE is jointly set up by the Ministry of Micro, Small & Medium Enterprises (MSME), Government of India (GoI) and Small Industries Development Bank of India (SIDBI) to catalyse flow of institutional credit to Micro & Small Enterprises (MSEs).
• The credit guarantee scheme (CGS) assures a lender that if an MSE unit that has availed itself of collateral-free credit facilities (fund-based and/or non-fund based) fails to discharge its liabilities, then the trust would make good the loss to the tune of 75-85% of the credit facility.

HDFC Capital Advisors Limited receives SEBI approval for control transfer in merger process  

• HDFC Ltd stated that the market regulator Securities and Exchange Board of India (SEBI) has cleared a proposal for change in control of HDFC Capital Advisors Limited (HCAL), a subsidiary of HDFC Limited and a co-investment portfolio manager subject to certain conditions.

Key Highlights : 

• As per the proposed composite scheme of amalgamation, HDFC Investments Limited and HDFC Holdings Limited, wholly-owned subsidiaries of Housing Development Finance Corporation Limited (HDFC Limited) would be first merged into HDFC Limited and subsequently into HDFC Bank.
• Already, HDFC has received the required approvals from the SEBI, shareholders of HDFC and HDFC Bank, the Pension Fund Regulatory and Development Authority (PFRDA) and the Competition Commission of India (CCI).
• The proposed entity will have a combined asset base of around Rs 18 lakh crore.
• Once the deal is effective, HDFC Bank will be 100%  owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank.
• Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares owned.

CURRENT AFFAIRS: NATIONAL NEWS

Seven-day SCO Millets Food Festival begins in Mumbai, chefs from member countries showcase millet cuisines

• Union Minister of State for Tourism Shripad Naik inaugurated the Seven-day SCO Millets Food Festival.
• Ministry of Tourism, Government of India is organizing the seven-day festival at Hotel Taj Mahal Palace to commemorate the International Year of Millets (IYM 2023).
• The Minister said that millet consumption can help the world meet at least six UN-mandated sustainable development goals.
• He also congratulated Kazakhstan for the next Shanghai Cooperation Organisation (SCO) Presidency.
• India is hosting the Presidency of the SCO for the year 2023.
• The Millet Food Festival is the fourth event being organised by the Ministry of Tourism to celebrate the P
• It is also the last event being organised by the Ministry of Tourism to celebrate the Presidency.
• Earlier, SCO Tourism Mart was organised from 9 to 11 February.
• SCO Expert Level Tourism Working Group Meeting and an SCO Tourism Ministers’ Meeting were also organised.

PM Modi inaugurates Northeast’s first AIIMS in Guwahati,

• PM Modi will inaugurate Northeast’s first AIIMS in Guwahati.
• In addition to AIIMS Guwahati, PM will dedicate three other medical colleges to the nation.
• He will also lay the foundation stone of the Assam Advanced Health Innovation Institute (AAHII).
• He will also dedicate to the nation and lay the foundation stone of various projects worth over Rs 3,400 crore.
• PM Modi will formally launch the ‘Aapke Dwar Ayushman’ campaign in Assam.
• PM Modi laid the foundation stone of AIIMS Guwahati in 2017.
• It is built at a cost of Rs 1,120 crore.
• It has a capacity of 750 beds, including 30 AYUSH beds.
• It will have an annual capacity of 100 MBBS students every year.
• PM Modi will also inaugurate Nalbari Medical College, Nagaon Medical College and Kokrajhar Medical College.
• PM Modi will lay the foundation stone of a bridge over the Brahmaputra River connecting Palashbari and Sualkuchi.
• PM Modi will also inaugurate a 500 Tons Per Day (TPD) capacity methanol plant at Namrup in Dibrugarh.
• PM Modi will also lay the foundation stone of the project related to beautification of Rang Ghar in Sivasagar.
• It was built by the Ahom king Swargadeo Pramatta Singha in the 18th century.
• PM Modi will also observe a huge Bihu dance.
• Artists from 31 districts of the state will participate in this programme.
• More than 10,000 Bihu artists will participate in the event and will attempt to create a new Guinness World Record in the category of world’s largest Bihu dance performance at one place.
• The Prime Minister will also attend a function to mark the Platinum Jubilee Celebrations of the Guwahati High Court at Srimanta Sankardev Kalakshetra in Guwahati.
• The Prime Minister is also scheduled to dedicate five railway projects to the nation. The railway projects that will be inaugurated are as follows.
• Doubling of Digaru-Lumding section, Gauripur – Abhayapuri section, New Bongaigaon – Dhup Dhara section
• Electrification of Raninagar Jalpaiguri-Guwahati section
• Electrification of Senchoa-Silghat Town and Senchoa-Marabari section.

Atal Innovation Mission, NITI Aayog collaborate with ATMAs to promote agri innovation

• Atal Innovation Mission (AIM) and the Ministry of Agriculture and Farmers Welfare (MoA&FW) have collaborated to promote innovation in the agricultural sector.
• AIM, NITI Aayog and MoA&FW have come together to encourage innovation in the agricultural sector among school students across India.
• Under the initiative, they have agreed to link Atal Tinkering Labs (ATLs) with Krishi Vigyan Kendra (KVKs) and Agricultural Technology Management Agency (ATMAs).
• KVKs, in partnership with ATMA, will work with nearby ATLs to encourage agricultural-related innovation.
• During the first phase, one KVK under each of the 11 Agricultural Technology Application Research Institutes (ATARIs) will be involved.
• After assessing the positive outcomes after two years, the pilot project will be extended.
• Agricultural Technology Management Agency (ATMA) Scheme was launched during 2005-06.
• It aims at making the extension system farmer-driven and farmer accountable by way of new institutional arrangements for technology dissemination in the form of an Agricultural Technology Management Agency (ATMA) at the district level.
• Atal Tinkering Labs is a major initiative under Atal Innovation Mission to promote a creative, innovative mindset in schools.

Railways introduces HSN codes to stem losses from commodity transport

• In a first-of-its-kind move, the Ministry of Railways has started using Harmonised System of Nomenclature (HSN) codes for the classification of commodities in freight transportation.
• It is a six-digit identification code.
• Of the six digits, the first two denote the HS Chapter, the next two give the HS heading, and the last two give the HS subheading.
• Developed by the World Customs Organization (WCO).
• Called the “universal economic language” for goods.
• It is a multipurpose international product nomenclature.
• It is used up to 8 digit level.
• HSN classification is widely used for taxation purposes by helping to identify the rate of tax applicable to a specific product in a country that is under review.
• It can also be used in calculations that involve claiming benefits.

Businesses with an annual turnover of ₹100 cr and above get 7-day window to report old invoices

• The Government has set a seven-day timeline to report old invoices on e-invoice IRP (Invoice Registration Portal) for tax assessees having annual turnover of ₹100 crore or more.
• In order to provide sufficient time for taxpayers to comply with this requirement, which may require changes to systems, we propose to implement it from May 01 onwards.
• It clarified that to ensure timely compliance, taxpayers in this category will not be allowed to report invoices older than 7 days on the date of reporting.
• Restriction will only apply to the document type invoice, an d there will be no time restriction on reporting debit/credit notes.
• For example, if an invoice has a date of April 1, 2023, it cannot be reported after April 8, 2023.
• The validation system built into the invoice registration portal will disallow the user from reporting the invoice after the 7-day window.
• Hence, it is essential for taxpayers to ensure that they report the invoice within the 7-day window provided by the new time limit.
• The note further clarified that there will be no such reporting restriction on taxpayers with an annual turnover of less than ₹100 crore, as of now.
• It may be noted that under GST law, e-invoicing for business-to-business (B2B) transactions was made mandatory for companies with a turnover of over ₹500 crore from October 1, 2020, which was then extended to those with a turnover of over ₹100 crore, effective January 1, 2021.
• From April 1, 2021, companies with turnover of over ₹50 crore were generating B2B e-invoices, and the threshold was brought down to ₹20 crore beginning April 1, 2022.
• From October 1, 2022, the level was further lowered to ₹10 crore. Non-compliance could result in penalty.

CURRENT AFFAIRS : STATE NEWS

Uttarakhand Chief Minister launched A HELP Program 

A Help Program Launched in the state of Uttarakhand

• The Chief Minister (CM) of Uttarakhand, Mr. Pushkar Singh Dhami launched ‘A-HELP’ (Accredited Agent for Health and Extension of Livestock Production) programme at Survey of India Auditorium Dehradun, Uttarakhand.

About ‘A-HELP’ Programme : 

• Under this program trained A-HELPs will give their vital contribution in preventing various infectious diseases of animals, artificial insemination under Rashtriya Gokul Mission (RGM), tagging of animals and animal insurance.
• Under RGM, livestock breed improvement programs will be conducted with the help of a large number of trained A-HELP workers who are interested in performing Artificial Insemination by providing them additional training.
• Shri Saurabh Bahuguna, the Minister of Animal Husbandry, Dairy and Fisheries, Uttarakhand Government, highlighted the significant role of women in livestock rearing and allied activities.
• The programme will ensure economic upliftment of livestock owners along with active participation and involvement of women power.
• The A-HELP will serve as the organic link between the livestock farmers and the veterinary services and become” first port of call” in times of need for the farmers.

Background : 

• The Department of Animal Husbandry and Dairying (DAHD) has launched  the novel initiative through an MoU signed between DAHD and the National Rural Livelihoods Mission (NRLM) under the Department of Rural Development (DoRD), Government of India (GoI). 
• The programme was successfully piloted  in the State of Madhya Pradesh (MP) and Jammu & Kashmir (J&K). 

About Ministry of Fisheries, Animal Husbandry & Dairying : 

• Cabinet Minister : Parshottam Rupala
• Minister of State : Sanjeev Balyan, L. Murugan

About Uttarakhand : 

• Governor : Gurmit Singh
• Chief Minister : Pushkar Singh Dhami
• National Park : Jim Corbett National Park, Rajaji National Park, Nanda Devi National Park

Andhra Pradesh Govt renamed Bhavanapadu Port in Srikakulam as Mulapeta greenfield Port

• The Andhra Pradesh (AP) government has renamed the proposed Bhavanapadu port in the Srikakulam district as Mulapeta greenfield port at the request of the locals.
• Chief Minister (CM) Shri YS Jagan Mohan Reddy will lay a foundation stone for this nearly Rs 4,000 crore project on April 19, 2023.
• The state government took this decision as farmers from Mulapeta and Vishnuchakram villages requested for the name change since Bhavanapadu village has no scope in the proposed port area, considering all the lands of Mulpeta and some from Vishnuchakram have been earmarked for acquisition

About AP : 

• Governor : S. Abdul Nazeer
• Chief Minister : Y. S. Jagan Mohan Reddy
• Capital : Amaravati
• National Park : Mrugavani National Park, Mahavir Harina Vanasthali National Park
• Wildlife Sanctuary : Coringa Wildlife Sanctuary, Kambalakonda Wildlife Sanctuary

CURRENT AFFAIRS: MOUS AND AGREEMENT

Credai, Indian Green Building Council to erect 4,000 projects by 2030

• The Confederation of Real Estate Developers Association of India (Credai) has partnered with the Indian Green Building Council (IGBC) to build over 1,000 certified green projects across India in the next two years, and 4,000 projects by 2030.
• This partnership was announced at Credai investiture ceremo ny, where Boman Irani was named the new president of Credai National for the term 2023-25.
• The partnership with IGBC will allow Credai to strengthen its capabilities and knowledge, with the aim of reducing carbon footprint by 203 0 and achieving carbon neutrality by 2050.
• This initiative aligns with India’s vision of reaching net-zero by 2070.
• On the occasion Boman Irani also launched the National Vision of G.R.O.W.T.H: Integrating CREDAI National and all its chapters in a unified mission.
• CREDAI MCHI has also partnered with real estate sustainability consultant ‘Smarter Dharma’ as its Sustainability Partner for Mumbai Metropolitan Region.
• Boman Irani, Credai National President.

NHAI enables FASTag-based payments at tiger reserve

• NHAI incorporated company Indian Highways Management Company Limited (IHMCL) signed an MoU with the Nagarjunasagar-Srisailam Tiger Reserve to carry out Electronic Tolling.
• Nagarjunasagar-Srisailam Tiger Reserve is spread across the states of Andhra Pradesh and Telangana.
• Its objective is to provide the facility for collecting the Ecosystem Management Coordination Fee through FASTag at the entry points of the tiger reserve.
• The FASTag system employs Radio Frequency Identification (RFID) technology to enable automatic toll payments at toll plazas and affixation of FASTag on all 4-wheelers & above vehicles have been mandated across India.
• With this system, people will get rid of long lines and delays.
• This partnership between the IHMCL and the Forest Department is an important step towards promoting sustainable tourism.

Indian Oil & US-based LanzaJet to set up India’s first green aviation fuel firm

• Indian Oil Corporation is planning to set up a joint venture with US-based clean energy technology company LanzaJet Inc and multiple domestic airlines for production of sustainable aviation fuel (SAF).
• Through the proposed venture, a plant will be set up to make SAF with alcohol-to-jet technology at IOCL’s Panipat refinery in Haryana at a cost of Rs 3,000 crore.
• The proposed plant will convert corn-based, cellulosic, or sugar-based ethanol into SAF, and would have an initial capacity to produce 85,000 tonnes of fuel annually.
• SAF is a biofuel with properties similar to conventional jet fuel but has a smaller carbon footprint.
• In accordance with the devised structure of the new company, IOCL will hold a 50 per cent stake while LanzaJet Inc will hold 25 per cent, while the remaining 25 per cent stake is reserved for airline companies, wherein multiple airline companies could be offered between two to five per cent stake.
• The Central government has identified aviation as one of the primary sectors to reduce emissions and is involving airlines, airports and ground handlers to take forward such initiatives.
• Also, Niti Aayog has suggested GST at 5 per cent on SAF and informed that the government could waive charges like passenger fees and user development fees (charged by airports) for SAF-operated flights.

CURRENT AFFAIRS: RANKING AND INDEX

World of Statistics releases ranking of the world’s “most criminal countries”

• World of Statistics has shared the ranking of the world’s “most criminal countries”.
• On the list, Venezuela has been ranked top, followed by Papua New Guinea (2), Afghanistan (3), South Africa (4), Honduras (5), Trinidad (6), Guyana (7), Syria (8), Somalia (9) and Jamaica (10),
• India stood at 77 spots while the US and UK were ahead of India in the criminal ranking country.
• The USA was at 55th number and the UK at 65th rank, according to the World of Statistics.
• Turkey, Germany, and Japan were among the least criminal countries, ranking at 92nd, 100th, and 135th ranks.
• Separately, World Population Review (WPR) ranked Afghanistan in the fourth spot on the list of countries with the highest crime rate in 2023.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Karnataka Bank appoints Sekhar Rao as interim CEO    

• The Reserve Bank of India (RBI) has approved the appointment of Sekhar Rao as interim managing director (MD) and chief executive officer (CEO) of Karnataka Bank.
• He has been appointed for a period of three months or till the appointment of regular MD and CEO whichever is earlier.
• He replaced Mahabaleshwara M S, whose term ended on April 14, 2023 after the successful completion of his second term of three years.
• Prior to this role, Sekhar Rao was serving as an executive director of the bank.

About Karnataka Bank : 

• Founded : 18 February 1924
• Headquarters : Mangalore, Karnataka, India
• Tagline : Your Family Bank Across India

CURRENT AFFAIRS : DEFENCE NEWS

Exercise Cope India 23 begins between Indian Air Force & United States Air Force in West Bengal  

• The first phase of Exercise Cope India-23 (CI23) began at West Bengal’s Panagarh Air Force base, also known as Air Force Station Arjan Singh.
• The exercise will conclude on 24 April 2023.

Aim: 

• To enhance mutual understanding between the Indian Air Force (IAF) and United States air forces (USAF).
• Apart from Panagarh, the war games will be held at the Air Force stations in Kalaikunda and Agra.
• Personnel from the Japanese Air Self Defence Force will also observe the exercise and interact with the two participating air forces.

Participants : 

• The exercise will witness participation of B1B bombers of the United States Air Force (USAF).
• F-15 fighter aircraft of the USAF will also join the exercise subsequently.
• The Indian Air Force (IAF) element will include the Su-30 MKI, Rafale, Tejas and Jaguar fighter aircraft. 

About Exercise Cope India : 

• Exercise Cope India 23 is a bilateral Air Exercise between the Indian Air Force (IAF) and the United States Air Force (USAF).
• Cope India began in 2004 as a fighter training exercise held at Air Station Gwalior, India.
• The exercise will be supported by aerial refuellers, Airborne Warning and Control System and Airborne Early Warning and Control aircraft of the IAF.

About Ministry of Defence : 

• Defence Minister : Rajnath Singh
• Minister of State : Ajay Bhatt
• Defence Secretary : Giridhar Aramane

Raman Research Institute & Indian Navy partners to develop secure maritime communications using Quantum Technology  

• The Indian Navy is set to collaborate with the Bengaluru, Karnataka based Raman Research Institute (RRI) to develop secure maritime communications using quantum technology.
• The Memorandum of Understanding (MoU) between RRI, an autonomous institute of the Department of Science and Technology (DST), and the Weapons and Electronics Systems Engineering Establishment (WESEE), the Research & Developments (R&D) establishment of the Indian Navy, was signed for a period of 5 years.
• The MoU was signed between Professor Tarun Souradeep, Director, RRI, and Vice Admiral Sandeep Naithani, Chief of Materiel, Indian Navy.

About the Partnership : 

• Under this agreement, RRI’s Quantum Information and Computing (QuIC) lab will lead the research efforts towards developing quantum key distribution techniques that the Indian Navy could leverage in the nation’s efforts towards securing free space communications.
• This lab has been leading the country’s research in the field of secure quantum communication. 
• Some of its major achievements include the

• Development of an end-to-end simulation toolkit named “qkdSim”
• Ensuring safety in communication platforms
• Establishing secure communication between two buildings, and, more recently, between a stationary source and a mobile receiver.

• QuIC is India’s first laboratory to propose and implement a wide range of applications using single and entangled photons, particularly towards establishing secure communications in strategic areas like banking, defence, and cyber security.

About RRI : 

• Established : 1948
• Location : Bangalore, Karnataka, India
• Director : Tarun Souradeep
• It was founded by Nobel laureate C. V. Raman.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Kenya successfully launches first operational satellite Taifa-1  into space onboard SpaceX Falcon-9 rocket  

• Kenya successfully launched its first operational earth observation satellite, ‘Taifa-1 satellite,’ into orbit.
• The launch took place on a SpaceX rocket Falcon-9 from the Vandenberg Base in California, United States (US).

About the Satellite : 

• A team of 9 Kenyan engineers from SayariLabs, designed and constructed Taifa-1 in collaboration with Bulgarian aerospace manufacturer Endurosat AD, which helped offset the design cost.
• The satellite will collect agricultural and environmental data, including on floods, drought and wildfires, to be used for disaster management and to combat food insecurity.
• The satellite was put together with the help of Bulgarian aerospace company Endurosat at a cost of 50 million Kenyan shillings ($372,000) over 2 years
• This satellite will operate for 5 years and then decay over 20 years.
• The launch rocket had 50 payloads from other countries, including Turkey, under SpaceX’s rideshare programme.

Key Statistics : 

• Egypt was the first African country to send a satellite into space in 1998.
• In 2018, Kenya launched its first experimental nanosatellite from the International Space Station (ISS).

About Kenya : 

• President : William Ruto
• Capital : Nairobi
• Currency : Kenyan shilling

NASA’s Lucy Spacecraft Spots Jupiter’s Trojan Asteroids for the First Time                                    

• NASA’s asteroid-hunting spacecraft, Lucy, captured its first views of four Jupiter Trojan asteroids that are thought to be leftover from the formation of the solar system.

About Trojan asteroids:

• Trojan asteroids are mysterious space rocks which have been gravitationally trapped in Jupiter’s orbit around the Sun for billions of years
• These are thought to be remnants of the primordial material that formed the outer planets.
• They orbit the Sun in two loose groups, with one group leading ahead of Jupiter in its path, and the other trailing behind.
• They are clustered around the two Lagrange points equidistant from the Sun and Jupiter, the Trojans are stabilised by the Sun and its largest planet in a gravitational balancing act.

About Lucy Mission : 

• It was launched by NASA from the Cape Canaveral Space Force Station in Florida in 2021.
• It is a 12-year mission which will take close observations of nine of Jupiter’s Trojans and two main belt asteroids along with that.
• It is the first spacecraft sent to study the Trojan asteroids, which orbit the Sun in the same path that the planet Jupiter takes.
• It has recently captured the images of Eurybates, Polymele,  Leucus and  Leucus asteroids.

Türkiye launches its largest warship and world’s first drone carrier – TCG Anadolu                                    

• Turkish President Mr Recep Tayyip Erdogan unveiled Türkiye’s largest warship and the world’s first unmanned combat aerial vehicle (UCAV) carrier, TCG Anadolu, has been delivered to the country’s navy.

About TCG Anadolu : 

• TCG Anadolu was built as part of the multi-purpose amphibious assault ship project.
• It was built in the Istanbul shipyard Sedef.
• Based on Spain’s flagship, the Juan Carlos I, the TCG Anadolu is a landing helicopter dock (LHD) type amphibious assault ship.
• It is 231 metres (758 feet) long and 32 metres wide and boasts a displacement of 27,436 tons.
• It has a top speed of around 20.5 knots, a range of 9,000 nautical miles and can operate at sea for 50 days.
• 10 helicopters or 11 armed drones can be deployed on the flight deck of the ship, and 19 helicopters or 30 armed helicopters can be transported in the hangar.
• The ship’s weapon, combat management, electronic warfare, infrared search and track, electro-optical search, laser warning, and torpedo defence systems, as well as radars, were developed locally.

About Türkiye : 

• President :  Recep Tayyip Erdoğan
• Capital : Ankara
• Currency : Turkish lira

CURRENT AFFAIRS: BOOKS AND AUTHOR

The new book ‘Gandhi: Siasat aur Sampradayikata’ written by Piyush Babel

• The new book ‘Gandhi: Siasat aur Sampradayikata’ written by journalist, and writer Piyush Babel is available in Hindi.
• The book is published by New Delhi-based Genuine Publications & Media Private Limited.
• He is the head of the media department of the Madhya Pradesh Congress.
• He quotes from Dr Ambedkar’s book ‘Pakistan or the Partition of India’ and other sources and claims that “contextualizing the developments leading up to the Partition of India in 1947, he shows that the spread of the Hindu South was a serious underlying Not that Mahatma Gandhi was responsible for the partition.

Daily CA One- Liner: April 19

• The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has increased the coverage ceiling under its Credit Guarantee Fund Scheme from ₹2 crore to ₹5 crore per borrower for credit facilities extended by lending institutions to Micro and Small Enterprises (MSEs).
• HDFC Ltd stated that the market regulator Securities and Exchange Board of India (SEBI) has cleared a proposal for change in control of HDFC Capital Advisors Limited (HCAL), a subsidiary of HDFC Limited and a co-investment portfolio manager subject to certain conditions.
• Union Minister of State for Tourism Shripad Naik inaugurated the Seven-day SCO Millets Food Festival
• PM Modi will inaugurate Northeast’s first AIIMS in Guwahati
• Atal Innovation Mission (AIM) and the Ministry of Agriculture and Farmers Welfare (MoA&FW) have collaborated to promote innovation in the agricultural sector
• In a first-of-its-kind move, the Ministry of Railways has started using Harmonised System of Nomenclature (HSN) codes for the classification of commodities in freight transportation
• The Government has set a seven-day timeline to report old invoices on e-invoice IRP (Invoice Registration Portal) for tax assessees having annual turnover of ₹100 crore or more
• The Confederation of Real Estate Developers Association of India (Credai) has partnered with the Indian Green Building Council (IGBC) to build over 1,000 certified green projects across India in the next two years, and 4,000 projects by 2030
• NHAI incorporated company Indian Highways Management Company Limited (IHMCL) signed an MoU with the Nagarjunasagar-Srisailam Tiger Reserve to carry out Electronic Tolling
• Indian Oil Corporation is planning to set up a joint venture with US-based clean energy technology company LanzaJet Inc and multiple domestic airlines for production of sustainable aviation fuel
• World of Statistics has shared the ranking of the world’s “most criminal countries”.
• The new book ‘Gandhi: Siasat aur Sampradayikata’ written by journalist, and writer Piyush Babel is available in Hindi
• The Chief Minister (CM) of Uttarakhand, Pushkar Singh Dhami launched ‘A-HELP’ (Accredited Agent for Health and Extension of Livestock Production) programme at Survey of India Auditorium Dehradun, Uttarakhand.
• The Andhra Pradesh (AP) government has renamed the proposed Bhavanapadu port in the Srikakulam district as Mulapeta greenfield port at the request of the locals.
• The Reserve Bank of India (RBI) has approved the appointment of Sekhar Rao as interim managing director (MD) and chief executive officer (CEO) of Karnataka Bank.
• The first phase of Exercise Cope India-23 (CI23) began at West Bengal’s Panagarh Air Force base, also known as Air Force Station Arjan Singh.