Daily Current Affairs April 07 2023

 CURRENT AFFAIRS : BANKING & FINANCE

Union Bank of India becomes first Indian bank to open special vostro account for India-Malaysia trade settlement in rupee

• Public sector lender Union Bank of India (UBI) becomes the first bank in the country to open a Special Rupee Vostro Account (SRVA) through its corresponding bank in Malaysia i.e. India International Bank of Malaysia (IIBM). 
• This means that trade between India and Malaysia can now be settled in the Indian rupee, in addition to the current modes of settlement in other currencies.

Aim :

• To facilitate the growth of global trade and to support the interests of the global trading community in Indian Rupee.

Key Highlights : 

• UBI’s move is in line with RBI’s direction in July, 2022 to allow the settlement of international trade in Indian Rupees.
• India-Malaysia bilateral trade, which has reached US$19.4 billion in FY 2021-22.
• Malaysia is the third largest trading partner of India in the ASEAN region, after Singapore and Indonesia that account for $30.1 billion and $26.1 billion bilateral trade with India respectively.
• In March 2023, banks from 18 countries were allowed by the Reserve Bank of India (RBI) to open SRVAs to settle payments in Indian rupees.
• The 18 countries are:  Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Botswana,Sri Lanka, Tanzania, Uganda, and the United Kingdom.

About UBI : 

• Founded : 11 November 1919
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : A. Manimekhalai
• Tagline : Good People to Bank With

Geojit Credits launches digital loan against mutual fund holdings

• Geojit Credits, a non-banking financial company, announced the launch of ‘Loan Against Mutual Fund’ (LAMF). 
• Through this, investors can avail of quick and hassle-free loans starting from Rs 10,000 in the 100% digital mode.

Key Highlights : 

• A LAMF allows investors to raise instant funds at attractive interest rates for their short-term liquidity requirements by keeping their mutual fund investments as collateral.
• Investors can avail of the loan anytime, and the loan amount will be credited to their registered bank account within a few hours.
• Investors can repay their loan amount without incurring any prepayment or foreclosure charges.
• Geojit Credits’ loan against mutual funds interest rate starts from just 8.99% per annum. 
• The interest would be charged only on the amount utilised by investors and for the loan duration.
• Geojit Credits is a subsidiary of Kochi-based Geojit Financial Services.

Bank of Maharashtra opens its first dedicated branch for startups in Pune

• Bank of Maharashtra (BoM), a premier public sector bank in the country, has inaugurated its first dedicated Branch for start-ups at Pune, Maharashtra.
• The dedicated branch will provide all kinds of support to a startup during its growth journey.
• A S Rajeev, MD & CEO, Bank of Maharashtra and Prashant Girbane, Director General, Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) inaugurated the Start-up Branch at FC Road, Yashomangal, Pune City Zonal Office.
• Start-ups are an entrepreneur venture in the early stage of business operation, which if properly nurtured becomes an integral pillar of economic growth, employment generation while satisfying evolving needs of its clients with innovation.
• During the event Bank of Maharashtra signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) venture capital for proactive financing of start-ups.

About BoM : 

• Established : 16 September 1935
• Headquarters :  Pune, Maharashtra India
• MD & CEO : A. S. Rajeev
• Tagline : Ek Parivaar, Ek Bank (One Family One Bank)

World Bank lowers India’s FY24 growth forecast to 6.3%

• The World Bank has lowered its forecast for India’s economic growth in the current fiscal year that started on April 1 to 6.3% from 6.6%.
• Asia’s third-largest economy recorded year-on-year growth of 4.4% in October-December, down from 11.2% a year back and 6.3% in the preceding quarter
• The World Bank estimated a 6.9% growth in FY23 .

Key Highlights : 

• It projected the current account deficit to narrow to 2.1% of gross domestic product for the current fiscal year from an estimated 3% in the previous year, on the back of robust service exports and a narrowing merchandise trade deficit.
• The finance ministry’s Economic Survey has projected economic growth to be 6.5% in the 2023-24 fiscal beginning April 2023, while the RBI has projected India’s economic growth to slow down to 6.4% in FY24 from 7% in the previous fiscal.
• Recently, S&P Global Ratings kept its forecast for India’s economic growth unchanged at 6% in the fiscal year starting April 1, before rising to 6.9% in the following year.
• In the quarterly economic update for Asia-Pacific, S&P saw inflation rate easing to 5% in 2023-24 fiscal, from 6.8% in the current financial year.

About World Bank : 

• Established : December 1944
• Headquarters : Washington, D.C., United States
• President : David Robert Malpass
• Membership : 189 countries
• The World Bank is an international financial institution that provides loans and grants to the governments of low– and middle-income countries for the purpose of pursuing capital projects.
• The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA).

Asian Development Bank cuts India’s economic growth to 6.4% in FY24

• The Asian Development Bank (ADB) slashed its India growth forecast for FY24 to 6.4% from 7.2% estimated earlier, citing risks arising from global and domestic factors.
• For FY23, ADB pared down its growth forecast to 6.8% from 7% estimated earlier.
• The current account deficit is projected to decline to 2.2% of GDP in FY24 and 1.9% in FY25.
• ADB stated that private consumption will be the main driver of growth and the large domestic consumption base will mitigate the impact of a global slowdown.

About ADB : 

• Established : 19th December 1966.
• Headquarters: Manila, Philippines.
• President : Masatsugu Asakawa
• Members: 68 members (49 from Asian & the Pacific & 19 outside)
• ADB is a regional development bank

CURRENT AFFAIRS: NATIONAL NEWS

PNGRB amends regulation to allow unified tariff for natural gas pipelines

• The Petroleum and Natural Gas Regulatory Board (PNGRB) has amended PNGRB (determination of natural gas pipeline tariff) under the mission of “One Nation, One Grid and One tariff“.
• PNGRB has notified a tariff of Rs 73.93/MMBTU and created three tariff zones for a unified tariff.
• The zonal unified tariffs have become effective from April 1, 2023.
• The tariff will be apportioned over three zones, Zone 1 to Zone 3, with the tariff of Rs 39.45/ MMBtu, Rs 74.97/ MMBtu and Rs 99.90/ MMBtu respectively.
• The national gas grid covers all pipeline networks owned and operated by Indian Oil Corporation Limited (IOCL), Oil and Natural Gas Corporation Limited (ONGC), GAIL (India) Limited, and Pipeline Infrastructure Limited.
• Now, with the commissioning of newer interconnected pipelines, the national gas grid will keep expanding for the Unified tariff.
• This reform will benefit consumers located in far-flung areas.
• The Petroleum and Natural Gas Regulatory Board (PNGRB) was formed under the Petroleum and Natural Gas Regulatory Board Act, of 2006.

Revamped credit guarantee scheme for MSMEs to be implemented from April 1

• In Union Budget 2023-24, Union Finance Minister Mrs Nirmala Sitharaman announced the revamping of Credit Guarantee Scheme for Micro & Small Enterprises with effect from 01.04.2023, with an infusion of Rs 9,000 crore to the corpus to enable additional collateral-free guaranteed credit of Rs. 2 lakh crore and the reduction in the cost of the credit by about 1 per cent.
• The corpus of Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) has been infused with a sum of Rs. 8,000 crore.
• CGTMSE has issued guidelines regarding reduction of the annual guarantee fee for loans up to Rs. 1 crore from a peak rate of 2% per annum to as low as 0.37% per annum.
• This will reduce the overall cost of credit to the Micro & Small Enterprises to a great extent.
• The limit on ceiling for guarantees has been enhanced from Rs. 2 crore to Rs. 5 crore.
• For settlement of claims in respect of guarantees for loan outstanding upto Rs. 10 lakh, initiation of legal proceedings will no longer be required.
• CGTMSE created a new landmark by touching the milestone figure of approving guarantees worth Rs. 1 lakh crore during FY 2022 – 23.

New India Literacy Programme launched to cover a target of 5.00 crore non-literates in the age group of 15 years and above

• Government has launched a new Centrally Sponsored Scheme namely, “New India Literacy Programme” (NILP) for implementation during five years from the FYs 2022-23 to 2026-27 with financial outlay of Rs.1037.90 crore out of which Rs.700.00 crore is Central share and Rs.337.90 crore is State share.
• The scheme aims to cover a target of 5.00 crore non-literates in the age group of 15 years and above.
• The Scheme has five components:

(i) Foundational Literacy and Numeracy,

(ii) Critical Life Skills,

(iii) Vocational Skills Development,

(iv) Basic Education and

(v) Continuing Education.

• The beneficiaries under the scheme are identified through door-to-door surveys on Mobile Apps by the surveyors in the States/UTs.
• The non-literate can also avail of the benefit of the scheme through direct registration from any place through the mobile app. The scheme is mainly based on volunteerism for teaching and learning. Volunteers can also register through a mobile app for this purpose.
• The scheme is based on technology and implemented predominantly through online mode.
• The teaching-learning material and resources have been made available on the DIKSHA platform of NCERT and can be accessed through mobile apps.
• All non-literate above 15 years of age can avail the benefits of the scheme.

Education Ministry shortlists 9,000 schools for PM SHRI scheme

• Education Ministry selected 9000 schools for Pradhan Mantri Schools for Rising India (PM SHRI) scheme.
• 9,000 schools from across India have been shortlisted for the Pradhan Mantri Schools for Rising India (PM SHRI) programme.
• These schools have been selected from 2.5 lakh government schools, including Kendriya Vidyalayas and Navodaya Vidyalayas.
• The schools have been selected on six parameters, which are given below:

1. Curriculum, pedagogy, and assessment
2. Access and infrastructure
3. Human resources leadership
4. Inclusive practices and gender equity
5. Management, monitoring, and governance
6. Beneficiary satisfaction

• PM SHRI scheme’s main aim is to develop more than 14,500 schools for the cognitive development of students.
• The effective implementation of this scheme will help in the proper implementation of the New Education Policy.

About PM SHRI:

• Pradhan Mantri Schools for Rising India (PM SHRI) scheme was approved by Union Cabinet on 5 September 2022.
• The Centre will disburse ₹18,128 crore to schools as its share under the PM SHRI (PM Schools for Rising India) scheme.
• Disbursals will be made over a five-year period from 2022-23 to 2026-27.
• PM SHRI is a centrally sponsored scheme of ₹27,360 crore, of which the majority will be contributed by the Centre, while the States will contribute the remaining ₹9,232 crore.

Foreign Trade Policy to take India’s exports to two trillion dollars by 2030

• Ministry of Commerce Piyush Goyal has unveiled Foreign Trade Policy (FTP) 2023 to raise India’s goods and services exports to two trillion dollars by 2030.
• India is likely to end this fiscal year with total exports of $760-770 billion as against $676 billion in 2021-22.
• It will replace Foreign Trade Policy 2015-20 and will become effective from 1 April 2023.
• The Foreign Trade Policy 2015-20 was extended due to the Covid-19 pandemic and volatile geo-political.
• The last extension was given in September 2022 till March 31, 2023.
• Earlier the duration of foreign trade policy was of five years.
• The latest policy has no end date and will be updated as per the need.
• Foreign Trade policy is based on 4 pillars, which are given below:

1. Incentive to Remission
2. Export promotion through collaboration – Exporters, States, Districts, Indian Missions
3. Ease of doing business, reduction in transaction cost and e-initiatives.
4. Emerging Areas – E-Commerce Developing Districts as Export Hubs and streamlining SCOMET policy.

• The FTP 2023 will encourage recognition of new towns through the “Towns of Export Excellence Scheme” and exporters through the “Status Holder Scheme”.
• The FTP 2023 has identified four new Towns of Export Excellence (TEE) — Faridabad, Moradabad, Mirzapur and Varanasi.
• These towns will be in addition to the already existing 39 TEEs.
• Battery electric vehicles (BEV) of all types, vertical farming equipment, wastewater treatment and recycling, rainwater harvesting system and rainwater filters, and green hydrogen will be now eligible for reduced Export Obligation requirements under the Export Promotion Capital Goods Scheme.
• Special outreach and training activities for small e-commerce exporters will be provided to promote e-commerce exports.
• The government is aiming to increase e-commerce exports to $200-300 billion by 2030.
• India’s overall exports including services and merchandise exports is expected to cross 760 Billion dollars in 2023.
• The new FTP will try to make the Indian rupee a global currency and allow international trade settlement in the domestic currency.
• The new FTP is introducing a one-time Amnesty Scheme for exporters to close the old pending authorizations.
• Further, Banarasi Langda Mango, Ramnagar Bhanta (Brinjal), and Adamchini Rice also received the GI tag for the riverine city in the Bhojpur-Purvanchal region of India.
• Padma Awardee GI expert Rajinikant informed about the 4 Varanasi-based goods receiving the GI tag.
• With this addition, a total of 22 GI-tagged products belong to the Kashi region.

CURRENT AFFAIRS: BUSINESS NEWS

Fiscal deficit touches 82.8% of annual target till February

• India’s fiscal deficit for FY23 touched 14.53 trillion rupees in the 11 months through February – nearly 83% of annual estimates.
• As per government data the numbers are 17% higher than last year.
• The country has targeted a budget deficit of 6.4% for the fiscal year ending this month.
• Data released by the Controller General of Accounts added that the fiscal deficit or gap between the expenditure and revenue collection between April 2022 and February 2023 stood at ₹14.53 lakh crore.
• Net tax collection in the first 11 months of this fiscal was at ₹17,32,193 crore while total expenditure incurred by the government was ₹93 lakh crore.
• Finance Minister Nirmala Sitharaman had said that the fiscal deficit target for 2023-24 was pegged at 5.9% of the GDP.
• The government intends to bring the fiscal deficit below 4.5% of the GDP by 2025-26.

Nokia changes iconic logo for the first time in 60 years

• Nokia has changed its iconic logo after nearly 60 years to revamp its brand identity for the first time in the company’s history.
• The new logo is made up of five different shapes making the word NOKIA.
• Nokia redesigned its logo to avoid being associated with mobile phones, a sector it left almost ten years ago.
• CEO Lundmark said that Nokia is no longer just a smartphone company, but a “business technology company.”

About Nokia:

• Nokia is a Finnish multinational telecommunication company, established in 1865 in Espoo, Finland.
• Nokia 1100 was the most popular phone of its time in India w ith a substantial market share before the advent of smartphones.
• It was known for its durability and sturdiness.
• 1865 – Nokia is founded as a paper mill in Tampere, Finland.
• There is currently no logo.
• 1965 – Nokia begins manufacturing electronics and introduces a simple logo.

India’s core sector output rises 6% on year in February 2023

• The combined Index of Eight Core Industries (ICI) increased by 6.0 per cent (provisional) in February 2023 as compared to the Index of February 2022.
• The production of Fertilizers, Coal, Electricity, Cement, Steel, Refinery Products and Natural Gas increased in February 2023 over the corresponding month of last year.
• The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
• The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) in the Commerce and Industry Ministry releases the Index of Eight Core Industries.

CURRENT AFFAIRS: MOUS AND AGREEMENT

NTPC Renewable Energy Signs Term Sheet With Greenko ZeroC To Supply Round The Clock RE Power Of 1300 MW Capacity For Its Green Ammonia Plant

• NTPC Renewable Energy Ltd, a wholly owned subsidiary of NTPC Green Energy Limited, has signed Term Sheet with Green ko ZeroC Pvt Ltd (A Greenko Group Company) to Supply 1300 MW Round the Clock RE Power for powering Greenko’s upcoming Green Ammonia Plant at Kakinada, India.
• The agreement between the two companies is one of the world’s single largest contract for supply of round-the-clock renewable supply for an industrial client.

About Greenko

• Greenko, is one of the World’s leading Energy Transition and Decarbonization solutions company.

About NTPC:

• NTPC Limited, formerly known as National Thermal Power Corporation Limited, is an Indian central public sector undertaking under the ownership of the Ministry of Power.
• Founded: 7 November 1975,
• Headquarters: New Delhi, India.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Sudha Shivakumar appointed as 40th National President of FICCI Ladies Organization (FLO)

• Sudha Shivakumar has been appointed as the 40th National President of Federation of Indian Chambers of Commerce and Industry (FICCI) Ladies Organization (FLO), a women-led and women-focused business chamber from South East Asia for the term 2023-24.
• She succeeds Mr jayanti Dalmia, 39th national president of FICCI FLO (2022-23)
• As National President, Shivakumar’s main focus will be on empowering women by creating an enabling environment that promotes entrepreneurship, industry participation and economic growth of women.

About Sudha Shivakumar : 

• Sudha Shivakumar is a Chennai, Tamil Nadu (TN) based professional lawyer and investment banker.
• In 2016-17, Ms. Shivkumar had served as Chairman of the FLO Chennai Chapter.
• Currently, she is a director at her family run business focused on auto ancillaries.

About FLO : 

• Established : 1983
• Headquarters : New Delhi, Delhi, India
• FLO was founded as a subsidiary of FICCI, India’s premier industry and commerce body.
• FLO at present has 19 chapters across India with about 3,000 business women as its members.

Suzuki Motorcycle India appoints Mr Kenichi Umeda as new Managing Director

• Suzuki Motorcycle India Pvt Ltd (SMIPL) announced the appointment of Mr Kenichi Umeda as its new Managing Director (MD).
• Mr Umeda succeeds Satoshi Uchida, who has completed his term as the MD of the company, SMIPL.
• Mr Umeda will now be responsible for further growing and strengthening Suzuki Motorcycle India’s position in the Indian and overseas markets.

About Suzuki Motorcycle India Pvt Ltd : 

• Founded: 2006
• Headquarters: Gurgaon, Haryana, India.
• Suzuki Motorcycle India, Private Limited is a wholly owned Indian subsidiary of Suzuki, Japan. 
• It was the third Suzuki automotive venture in India, after TVS Suzuki and Maruti Suzuki.

Axis Securities appoints Mr Pranav Haridasan as new MD and CEO

• Axis Securities Limited has appointed Mr Pranav Haridasan as its new Managing Director (MD) and Chief Executive Officer (CEO) for a tenure of 3 years.
• He will succeed the current MD & CEO, Mr B Gopakumar who has been transferred to Axis Asset Management Company as MD & CEO.

About Mr Pranav Haridasan : 

• Mr Pranav Haridasan has over 20 years of experience in financial markets, having served as Citigroup Director Global Markets and Head of India/ASEAN Execution Services prior to joining Axis Capital.
• Prior to this appointment, Mr Pranav Haridasan was serving as the Managing Director and Co-Head of Equity at Axis Capital.

About Axis Securities Limited : 

• Incorporated on : 21 Jul, 2006
• Headquarters : Mumbai, Maharashtra, India
• Axis Securities is a subsidiary of Axis Bank which operates retail broking services through Axis Direct.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Skyroot Aerospace Successfully Test Fired 3D-Printed Cryogenic Engine — Dhawan-II

• The private space vehicle company Skyroot Aerospace has test-fired its 3D-printed Dhawan II engine for a duration of 200 seconds in Telangana.
• The test was conducted at Solar Industries propulsion test facility in Nagpur, Maharashtra using Skyroot’s indigenously developed mobile cryogenic engine test pad.

About Dhawan II : 

• Dhawan-II is a 3.5 Kilo Newton (kN) cryogenic engine named after India’s top rocket scientist, Dr. Satish Dhawan.
• The engine builds upon the foundation laid by Skyroot’s first privately developed fully-cryogenic rocket engine, the 1.0 kN (kilo Newton) thrust Dhawan-I, which was successfully test-fired in November 2021.
• The cryogenic rocket engine uses two high-performance rocket fuels, Liquid Natural Gas (LNG) and Liquid Oxygen (LoX), which require cryogenic temperatures (below -150° Celsius) for storage and operation.
• LNG is more than 90% Methane, and LoX is a green burning fuel that is environmentally friendly.
• The 3D-printed Dhawan – II engine also uses a 3D-printed torch igniter and a bellow-actuated cryo-injection valve with a quick response time.
• It will be used in the upper stage of the updated version of Vikram-II.
• The Skyroot carried out its first sub-orbital flight in November 2022.
• The Vikram-1 rocket is the first in the series of rockets that are being developed by Skyroot Aerospace.
• It will use 3 solid-fuel stages to take satellites to orbit.
• Skyroot Aerospace is planning to conduct its 1st orbital flight by the year-end.
• Vikram II rocket is scheduled to become launch-ready by 2024.
• After this scheduled launch, the Skyroot Aerospace will become the first private launcher from South Asia.

About Skyroot Aerospace : 

• Founded : 12 June 2018
• Headquarters : Hyderabad, Telangana, India
• CEO : Pawan Kumar Chandana

CURRENT AFFAIRS: IMPORTANT DAYS

World Health Day 2023: April 7

• World Health Day 2023 is observed all over the world on 7th April.
• The World Health Organization’s physical, emotional, and mental well-being is promoted and celebrated all over the world to this day.
• The main theme of this year is “Health For All”.
• In December 1945 the official of China and Brazil proposed the creation of an international health organization that is all-encompassing and absolutely independent from any government powers.
• After half a year the constitution of the World Health Organization was approved in 1946.
• The 61 countries signed the agreement for the inception of the Non-Governmental Organization.
• World Health Day was created and first celebrated on 22nd July 1949.
• Later the date was changed to 7th April and the WHO encourage the students to participate.

Daily CA One-Liner: Apr 7

• The Petroleum and Natural Gas Regulatory Board (PNGRB) has amended PNGRB (determination of natural gas pipeline tariff) under the mission of “One Nation, One Grid and One tariff
• In Union Budget 2023-24, Union Finance Minister Mrs Nirmala Sitharaman announced the revamping of Credit Guarantee Scheme for Micro & Small Enterprises with effect from 01.04.2023, with an infusion of Rs 9,000 crore to the corpus to enable additional collateral-free guaranteed credit of Rs. 2 lakh crore and the reduction in the cost of the credit by about 1 per cent
• Government has launched a new Centrally Sponsored Scheme namely, “New India Literacy Programme” (NILP) for implementation during five years from the FYs 2022-23 to 2026-27 with financial outlay of Rs.1037.90 crore out of which Rs.700.00 crore is Central share and Rs.337.90 crore is the State share
• Education Ministry selected 9000 schools for Pradhan Mantri Schools for Rising India (PM SHRI) scheme
• Ministry of Commerce Piyush Goyal has unveiled Foreign Trade Policy (FTP) 2023 to raise India’s goods and services exports to two trillion dollars by 2030
• India’s fiscal deficit for FY23 touched 14.54 trillion rupees in the 11 months through February – nearly 83% of annual estimates
• Nokia has changed its iconic logo after nearly 60 years to revamp its brand identity for the first time in the company’s history
• The combined Index of Eight Core Industries (ICI) increased by 6.0 per cent (provisional) in February 2023 as compared to the Index of February 2022.
• NTPC Renewable Energy Ltd, a wholly owned subsidiary of NTPC Green Energy Limited, has signed Term Sheet with Green ko ZeroC Pvt Ltd (A Greenko Group Company) to Supply 1300 MW Round the Clock RE Power for powering Greenko’s upcoming Green Ammonia Plant at Kakinada, India
• Public sector lender Union Bank of India (UBI) becomes the first bank in the country to open a Special Rupee Vostro Account (SRVA) through its corresponding bank in Malaysia e. India International Bank of Malaysia (IIBM). 
• Geojit Credits, a non-banking financial company, announced the launch of ‘Loan Against Mutual Fund’ (LAMF). 
• Bank of Maharashtra (BoM), a premier public sector bank in the country, has inaugurated its first dedicated Branch for start-ups at Pune,Maharashtra.
• The World Bank has lowered its forecast for India’s economic growth in the current fiscal year that started on April 1 to 6.3% from 6.6%.
• The Asian Development Bank (ADB) slashed its India growth forecast for FY24 to 6.4% from 7.2% estimated earlier, citing risks arising from global and domestic factors.
• Finland becomes the 31st member of North Atlantic Treaty Organisation (NATO), in a historic strategic shift provoked by Moscow’s war on Ukraine, which doubles the US-led alliance’s border with Russia.
• Bihar’s West Champaran’s ‘Mircha’ rice has been awarded the Geographical Indication (GI) tag.
• Prime Minister Shri Narendra Modi has lauded the grant of the Geographical Indication (GI) tag for Ladakh wood carving also known as ‘Ladakh Shingskos’
• The Banarasi Paan, celebrated in Amitabh Bachchan’s iconic song ‘Khaike paan banaras wala’ received the Geographical Indication (GI) tag.
• Sudha Shivakumar has been appointed as the 40th National President of Federation of Indian Chambers of Commerce and Industry (FICCI) Ladies Organization (FLO), a women-led and women-focused business chamber from South East Asia for the term 2023-24.
• Suzuki Motorcycle India Pvt Ltd (SMIPL) announced the appointment of Mr Kenichi Umeda as its new Managing Director (MD).
• Axis Securities Limited has appointed Mr Pranav Haridasan as its new Managing Director (MD) and Chief Executive Officer (CEO) for a tenure of 3 years.
• The private space vehicle company Skyroot Aerospace has test-fired its 3D-printed Dhawan II engine for a duration of 200 seconds in Telangana.
• World Health Day 2023 is observed all over the world on 7th April.