Daily Current Affairs May 20 2023 | Latest News

 

CURRENT AFFAIRS : BANKING & FINANCE

SEBI to expand list of Qualified Institutional Buyer entities in debt market

• Capital markets regulator Securities and Exchange Board of India (SEBI) proposed expanding the definition of qualified institutional buyer (QIB) for investing in debt securities in a bid to increase the supply of funds to the issuers of such securities.

Key Highlights :

• SEBI has proposed to include 10 different categories of entities including multi-State cooperatives with ₹500-crore net worth, Non Banking Financial Companies (NBFCs), housing finance companies, pension funds, small finance banks, reinsurers and refinancing agencies such as Micro Units Development & Refinance Agency (MUDRA) under the definition of qualified institutional investors for investment in debt securities and further develop the debt market.
• The other entities that would be recognised as QIB in debt market include regulatory authorities, autonomous bodies, authorities, boards or Commissions or agencies, authorities, organisations or entities established, owned or controlled by the Central government or a State government and SEBI-regulated entities with net worth of over ₹500 crore.
• This apart, educational institutions, including universities or higher educational institutions, or funds or endowments of universities or higher educational institutions recognised by State governments or Central government and Urban local body, municipality or any statutory body or board or corporation, authority, trust or agency established, special purpose vehicle notified by the Central government or State government would also be recognised.
• SEBI may also specify a minimum amount of investible surplus and furnish the same to the stock exchange prior to commencing investments as a QIB.
• SEBI has been receiving representations that the definition of the term ‘QIB’ be expanded in order to increase the potential investor base for issuers of debt securities and for further developing the debt markets.
• The proposed move would increase the potential investor base for issuers of debt securities and help in further developing the debt markets.
• QIBs are large, sophisticated and informed investors who are considered suitable for making investments in the capital markets and have expertise in evaluating investment opportunities and in managing risks.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

IDBI, BOB & SBI Capital to manage IREDA IPO   

• The government has appointed IDBI Capital, BOB Capital and SBI Capital to manage the initial public offer (IPO) of the Indian Renewable Energy Development Agency (IREDA).
• IDBI Capital is the lead banker for the transaction.
• Separately, Saraf and Partners has been appointed as the legal adviser for the IPO.
• The IPO, which is expected in FY24, will likely consist of a 10% stake sale by the government and 15% fresh equity issuance by the renewable energy project financier to fund its business growth.
• On March 17,2023 the Cabinet Committee on Economic Affairs (CCEA) approved the IREDA IPO.
• As of date, IREDA has financed more than 3,068 RE projects loan accounts with cumulative loan sanction and disbursement to the tune of Rs 1.42 trillion and Rs 0.9 trillion respectively and has supported RE capacity addition of 19,502 MW in the country.
• The company’s net profit rose 50% on year to Rs 611 crore in the first nine months of FY23.

About IREDA :

• Headquarters : New Delhi, Delhi
• Chairman & Managing Director : Pradip Kumar Das
• The IREDA is a Public Limited Government Company and a Non-Banking Financial Institution formed for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: “ENERGY FOR EVER”.
• It is a Mini Ratna (Category – I) Government of India Enterprise with the objective of promoting, developing and extending financial assistance and under the administrative control of the Ministry of New and Renewable Energy (MNRE).

BSE relaunches Sensex & Bankex derivative contracts  

• The Bombay Stock Exchange (BSE), Asia’s oldest stock exchange, relaunched Sensex and Bankex derivative contracts in its bid to boost derivative trading.
• The relaunch of derivative contracts comes with a reduced lot size of futures and options and a new expiry cycle of Friday from Thursday earlier.

Key Highlights :

• Sensex is a well-known benchmark and a barometer of India’s economy.
• The lot size of futures and options has been reduced to 10 from 15 for Sensex, and to 15 from 20 in case of Bankex.
• In 2000, BSE had launched Sensex-30 derivatives (options and futures) for the first time.
• The Sensex-30 derivatives are made up of 30 of the largest and most liquid stocks listed on BSE.

What are Derivatives?

• A derivative is set between two or more parties that can trade on an exchange or over the counter (OTC).
• Derivatives are the type of financial contracts whose value is dependent on an underlying asset, group of assets, or benchmark.
• Derivatives are usually leveraged instruments, which increases their potential risk and reward.
• Usually, they are used to hedge against the risk against the assets in the equity markets.

About BSE :

• Founded : 9 July 1875
• Headquarters : Mumbai, Maharashtra, India
• Managing Director and CEO : Sundararaman Ramamurthy

CURRENT AFFAIRS: NATIONAL NEWS

Kiren Rijiju Replaced As Law Minister, Shifted To Earth Sciences

• The Union Government transferred Kiran Rijiju from the Ministry of Law and Justice to the Ministry of Earth Sciences.
• Arjun Ram Meghwal will replace Rijiju as the law minister.
• Arjun Ram Meghwal, Minister of State has been assigned the independent charge as Minister of State in the Ministry of Law and Justice in addition to his existing portfolios, in place of Kiren Rijiju.
• Rijiju was appointed as the law minister in July 2021, following the resignation of Ravi Shankar Prasad due to a cabinet reshuffle.
• Arjun Ram Meghwal is the Minister of State for Parliamentary Affairs as well as the Minister of State for Culture.

International credit card usage to come under RBI’s LRS; 20% TCS to be charged July 1

• The Government has amended rules under the Foreign Exchange Management Act to bring in international credit card spends outside India under the Liberalised Remittance Scheme (LRS).
• As a result, the spending by international credit cards will also attract a higher rate of Tax Collected at Source at 20 per cent effective July 1.
• Liberalised Remittance Scheme (LRS) was brought out by the RBI in 2004.
• It allows resident individuals to remit a certain amount of money during a financial year to another country for investment and expenditure.
• According to the prevailing regulations, resident individuals may remit up to $250,000 per financial year.
• Resident Indians or people resident in India are allowed to transfer foreign currency under the foreign exchange regulations.
• The transfer of foreign currency outside India is governed by the Foreign Exchange Management Act, 1999 (FEMA).
• LRS restricts buying and selling of foreign exchange abroad, or purchase of lottery tickets or sweep stakes, proscribed magazines and so on, or any items that are restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
• The usage of an international credit card to make payments towards meeting expenses during a trip abroad was not covered under the LRS.
• These spendings were excluded by way of Rule 7 of the Foreign Exchange Management (Current Account Transaction) Rules, 2000.
• Rule 7 has now been omitted, paving way for the inclusion of such spendings under LRS.
• Not only foreign tour packages but 20 per cent TCS rule also applies on credit cards on international transactions.
• This means even direct booking would come under the ambit of 20 per cent TCS.
• It will not apply on the payments for purchase of foreign goods/services from India.
• The Budget had stated that on foreign outward remittance under LRS, other than for education and medical purposes, a TCS of 20 per cent will be applicable from July 1, 2023.
• Before this proposal, the TCS of 5 per cent was applicable on foreign outward remittances above Rs 7 lakh and 5 per cent without any threshold for overseas tour package.

India to host prestigious Asia Petrochemical Industry Conference

• India will host the prestigious 2-day Asia Petrochemical Industry Conference (APIC), which will bring together global leaders from the petrochemical sector to debate on key issues related with growth, trade, investment and sustainability
• The development assumes importance as India aspires to be a 5-trillion economy by FY25 further emphasising the key role of petrochemicals and its derivatives.
• The Chemicals and Petrochemicals Manufacturers’ Association (CPMA) of India is hosting the 41st edition of APIC 2023 in the national capital.
• It is hosted on a rotational basis by the seven-member countries–Japan, Korea, Malaysia, Singapore, Thailand, Taiwan and India.
• The main objective of the conference is to spur discussion and co-operation on the issues of the day being faced by the industry related to growth, trade, investment, and sustainability, in Asia-Pacific and also around the world.

Govt to set up 1,100 new Farmer Producer Organizations in cooperative sector

• The government has decided to form 1,100 new Farmer Producer Organizations (FPOs) in the cooperative sector.
• The government has allocated these additional 1100 FPOs to National Cooperative Development Corporation (NCDC) under FPOs’ Scheme.
• Under the FPO Scheme, each FPO gets financial assistance of 33 lakh rupees.
• Further, the Cluster-Based Business Organizations are provided the financial assistance of 25 lakh rupees per FPO.
• The Ministry of Cooperation said Primary Agricultural Credit Societies can now engage in other economic activities including high-income generating activities such as bee-keeping and mushroom cultivation.
• Primary Agricultural Credit Societies are primarily involved in short-term credit and distribution of seeds and fertilizers.

About NCDC:

• National Cooperative Development Corporation (NCDC) is a statutory corporation.
• It was set up in March 1963.
• Pankaj Kumar Bansal is its managing director.

CURRENT AFFAIRS : INTERNATIONAL NEWS

76th Cannes Film Festival started in France

• The 76th Cannes Film Festival started in France.
• The festival officially started with the world premiere of the Johnny Depp starring film Jeanne Du Barry.
• Minister of State for Information and Broadcasting Dr L Murugan is leading the Indian delegation at the 12-day event.
• Filmmaker Guneet Monga of The Elephant Whisperers fame, Indian actresses Manushi Chillar, Esha Gupta and Manipuri actor Kangabam Tomba are accompanying him.
• Information and Broadcasting Minister Anurag Thakur addressed the inaugural session through a video message.

Key Highlights :

• India’s Cannes pavilion this year will be based on the Saraswati Yantra, an abstract representation of Goddess Saraswati, drawn from the ancient text of ‘Maha Upanishad’.
• The pavilion has been designed by the National Institute of Design, Ahmedabad, with the theme “Showcasing India’s Creative Economy” to the global community.
• The film festival will be held from May 16 to May 27, 2023.
• 4 Indian films have made it to the official selection in Cannes Film Festival – which include Kanu Behl’s Agra and Anurag Kashyap’s Kennedy.

About Cannes Film Festival :

• Cannes Film Festival is an annual film festival.
• It is held in Cannes, France.
• It is one of the “Big Three” major European film festivals.
• It reviews new films of all genres, including documentaries from all over the world.

CURRENT AFFAIRS : STATE NEWS

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu Launched ‘Him’ Data Portal for Targeted Delivery Of Welfare Schemes

• Himachal Pradesh (HP) Chief Minister (CM) Shri Sukhvinder Singh Sukhu launched the ‘Him’ data portal, a common digital platform to improve the delivery of welfare schemes by integrating real-time and accurate data of all government bodies.
• He was addressing a conference organised by the Bharti Institute of Public Policy of the Indian School of Business (ISB) on governance and technology at Mohali, Punjab.

Key Highlights :

• From July 2023, the HP government will start the ‘Him Parivar’ project which will give a special digital identity to the people of HP.
• Information about essential facilities like ration cards, family registers, electricity, drinking water, etc. would be available with a single click through ‘Him Parivar’.
• The Him Pulse’, an advanced data analytics application, would be used to the capacity of ‘Him Parivar’ by improving the delivery of benefits to the targeted population.
• The ‘Him Pulse’ was designed to enhance governance, help with last-mile delivery, and assess the trends of inclusion and exclusion of welfare beneficiaries.
• The data portal will bring valuable data from multiple domains together and help in visualising patterns, gaps, opportunities and connections cohesively.
• Besides, it will assist in giving operators insights into critical parts of a transaction, smart recovery process and connected system outages.
• The HP government and the Indian School of Business (ISB) will work together in the fields of education, information technology, forests and

About HP :

• Governor : Shiv Pratap Shukla
• Chief Minister : Sukhvinder Singh Sukhu
• Capital : Shimla (Summer), Dharamshala (Winter)
• Wildlife Sanctuary : Daranghati Sanctuary, Kanwar Sanctuary,Rupi Bhawa Sanctuary

Madhya Pradesh Chief Minister Shivraj Singh Chouhan Launched Farm Loan Interest Waiver Scheme  

• Madhya Pradesh (MP) Chief Minister (CM), Shri Shivraj Singh Chouhan, has launched a CM Farm Loan Interest Waiver Scheme namely Mukhyamantri Krishak Byaaj Maafi Yojana-2023 (Chief Minister Farmer Loan Waiver Scheme).

Key Highlights :

• Under the scheme, the MP government will compensate defaulter farmers who have outstanding loans, including the principal and interest, of up to ₹2 lakh as of March 31, 2023, from Primary Agricultural Credit Cooperative Societies (PACS).
• The scheme covers short-term crop loans as well as loans that have been converted into medium-term loans due to natural calamities.
• Chouhan assured farmers that the MP government would pay the interest amount for each defaulter farmer, allowing them to become eligible for the crop loan scheme with 0% interest.
• A total of ₹2,123 crores in outstanding amounts will be waived off, benefiting approximately 11,19,000 farmers.

About MP :

• Governor : Mangubhai C. Patel
• Chief Minister : Shivraj Singh Chouhan
• Capital : Bhopal
• National Park : Satpura National Park, Kanha National Park,Bandhavgarh National Park
• Wildlife Sanctuary : Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

Geojit Financial Services launches mobile trading platform ‘FLIP’

• Geojit Financial Services has launched its latest mobile trading platform, FLIP, that will replace the existing platform SELFIE.
• The new platform will provide investors and traders a comprehensive and flexible trading experience, backed by a range of advanced features.
• FLIP users will benefit from additional features set to be introduced over the next three months, including Split Order for Options, Roll Over for Futures, and Conditional Orders, Trading from Charts, Events Calendar, Market Overview, and Apply for IPO.
• Clients can download FLIP, and all existing SELFIE users can upgrade to FLIP from Apple AppStore and Google Play Store.

About Geojit Financial Services

• Geojit Financial Services Ltd. is an investment services company in India
• Headquartered in Kochi, Kerala.

NSE launches WTI Crude Oil and Natural Gas futures contracts

• The National Stock Exchange will launch two new cash-settled energy futures contracts on WTI Crude Oil and Natural Gas.
• With the new launch, the country’s largest exchange intends to enhance the product offering and draw liquidity from MCX, which already provides trades in similar contracts on its platform.
• In a bid woo investors, NSE has waived off transaction charges in both these contracts till October-end.
• Initially, six monthly expiry contracts of WTI Crude and three of natural gas will be available for trading.
• The exchange targets investment in the new commodity contracts from large foreign portfolio investors and high-net worth investors who are already trading in the NSE equity derivatives segment.
• All FPI categories (I and II), including individuals, family offices, and corporate FPIs, are permitted to trade in the commodity segment.
• Direct Market Access and algo trading facility will also be available for FPIs.
• Earlier, NSE had signed a data licensing agreement with CME Group allowing NSE to list, trade, and settle rupee-denominated NYMEX WTI Crude Oil and Natural Gas derivatives contracts on its platform.
• The NSE WTI Crude Oil and Natural Gas contracts will be settled based on the NYMEX front-month contract’s settlement price.
• Crude Oil Derivatives (Brent and WTI) are the highest-traded products in the commodities market space.

CURRENT AFFAIRS: MOUS AND AGREEMENT

IKEA India Ties up with HDFC Bank to launch consumer financing options

• IKEA India has partnered with HDFC to launch a consumer financing scheme offering EMI options ranging from 3 to 30 months, with a mix of no-cost (0 per cent) and low-cost (up to 10 per cent).
• With an EMI-based financing option, the company would be able to help customers purchase furniture and home decor products in instalments without facing any financial challenges.
• The customers must provide their KYC information to the HDFC bank agent at the IKEA stores for financing option.
• This is a long-term initiative for IKEA to strengthen its affordability agenda.
• The new consumer financing option will be available at all IKEA stores in India starting from May 6, 2023, and will soon be accessible online as well.

IIM Kozhikode, Kerala Police join hands to augment cyber security measures

• The Centre for Digital Innovation & Transformation (CDiT) at the Indian Institute of Management Kozhikode (IIMK) and the Kerala Police Cyberdome Project, inked an MoU to augment cyber security measures in new-age policing.
• The MoU was signed between Lt. Col M Julius George, Chief Administrative Officer, IIMK and P Prakash, Inspector General of Police & Nodal Officer Kerala Police Cyberdome.
• Kerala Police Cyberdome Project is a PPP initiative of Kerala Police to work in the areas of cyber security, information security, cyber forensics, data analytics and other areas where Information Technology can be leveraged for new-age policing.

Cabinet approves signing of MoU between Competition Commissions of India & Egypt

• The Union Cabinet approved the signing of memorandum of understanding between Competition Commission of India (CCI) and Egyptian Competition Authority (ECA).
• The MoU envisages the promotion and strengthening of cooperation in competition law and policy through exchange of information, sharing of best practices as well as through various capacity building initiatives.
• The MoU also aims to develop and strengthen linkages between CCI and ECA, and learn and emulate from each other’s experiences in the enforcement of competition law in their respective jurisdictions through experience sharing and technical cooperation.
• Section 18 of the Competition Act, 2002 permits CCI to enter into any memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act.

About CCI:

• Founded: 14 October 2003
• Headquarters: New Delhi
• Chairperson: Ashok Kumar Gupta

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Government appoints Anil Kumar Jain as new Petroleum & Natural Gas Regulatory Board chairman      

• The Appointments Committee of the Cabinet (ACC) has approved the appointment of Anil Kumar Jain as the new chairman of the oil and gas sector regulatory body, Petroleum & Natural Gas Regulatory Board (PNGRB).
• He has been appointed for a period of 5 years from the date assumption of charge of the post or till attaining the age of 65 years, or until further orders.
• The chairman position of PNGRB has been lying vacant since Dinesh Kumar Sarraf retired on December 4, 2020.

About Anil Kumar Jain :

• Anil Kumar Jain is bihar-born, 1986-batch Indian Administrative Service (IAS) officer from the Madhya Pradesh cadre.
• He became Adviser (Energy) at the government’s think tank NITI Aayog in 2012, where he was promoted to Additional Secretary for the Energy vertical.
• He was an additional secretary at the environment ministry from 2017 to 2019.
• He was appointed Coal Secretary in September 2019, a position from which he retired on October 31, 2022.
• He has authored two books titled Natural Gas in India: Policy and Liberalisation’ (2012) & Natural Gas in India Challenges & Opportunities (2022).

About PNGRB :

• Headquarters : New Delhi, Delhi, India
• PNGRB is a statutory body in India, constituted under the act of Parliament of India, namely Petroleum and Natural Gas Regulatory Board Act, 2006.
• PNGRB is the first regulatory body set up by the Government of India (GoI).
• Its primary functions include regulation of refining, transportation, distribution, storage, marketing, supply and sale of petroleum products and natural gas.

Raheja QBE General Insurance appoints Rajeev Dogra as the new MD & CEO                                    

• Raheja QBE General Insurance Company Limited has appointed Rajeev Dogra as the new Managing Director & Chief Executive Officer following regulatory approval from Insurance Regulatory and Development Authority of India.
• He succeeded Pankaj Arora.

About Raheja QBE General Insurance Company Limited :

• Headquarters : Mumbai, Maharashtra
• Raheja QBE is a joint venture (JV) between Rajan Raheja Group and QBE Insurance, Australia based global insurer.

Paytm appoints Bhavesh Gupta as President and COO                                                

• One 97 Communications Ltd, which owns Paytm, has appointed Bhavesh Gupta, as President and Chief Operating Officer (COO) of the company .
• In his new role, Gupta will be responsible to lead verticals of lending, insurance, payments – online and offline, consumer payments and drive key initiatives including user growth, operations risk, fraud risk and compliance.
• He will be reporting to Vijay Shekhar Sharma, Managing Director (MD) and Chief Executive Officer (CEO) of Paytm.
• In April 2023, Paytm’s parent company, One 97 Communications Limited, approved the appointment of SR Batliboi and Associates LLP (SRB), commonly known as Ernst and Young (EY), as its new statutory auditor for a tenure of 5 years.
• SRB will replace PricewaterhouseCoopers (PwC) as the latter’s 5-year term will expire this year.

About Bhavesh Gupta :

• In 2020, he was appointed as the CEO of Paytm’s lending business.
• Prior to joining Paytm in 2020, Gupta held multiple leadership roles including CEO of Clix Capital (formerly known as GE Capital), Head of SME (Small & Medium Enterprises) & Business Banking at IDFC Bank and was also associated with ICICI bank in various roles.

About Paytm :

• Founded : August 2010
• Headquarters : Noida, Uttar Pradesh, India
• CEO : Vijay Shekhar Sharma
• Paytm is an Indian multinational financial technology company, that specialises in digital payments and financial services.

CURRENT AFFAIRS: BOOKS AND AUTHOR

A book titled “Just Aspire” authored by Ajai Chowdhry

• Ajai Chowdhry one of the co-founders of HCL also an Entrepreneur, sportsman, and salesman authored a new book titled ‘Just Aspire’ ‘Just Aspire’  which is a motivational book that focuses on the importance of having a positive mindset, setting goals, and taking action to achieve them.
• Publisher: Harper Business
• This book talks about the journey of a small-town boy (Ajai) who turned into a CEO of a global company.
• This easy-to-comprehend book is divided into three personas – “Aspire,” “Achieve,” and “Inspire.”

CURRENT AFFAIRS: IMPORTANT DAYS

World Metrology Day 2023 – May 20

• World Metrology Day is celebrated on May 20 annually.
• This day is observed to raise the importance of Metrology.
• Metrology Day is prompted by the Measurements Standards Laboratory(MSL).
• The theme for World Metrology Day 2023 is Measurements supporting the global food system.
• The first World Metrology Day was held in 1961.
• The World Metrological Organization came into force in 1950.
• World Metrology Day commemorates the renowned meter convention in Paris, France in the year 1875.
• After the convention, the Bureau International des Poids et Mesures(BIPM) and the International Organization of Legal Metrology(OIML) were established to ensure the importance of metrology.
• The function of the World Metrological Organization is important to people’s health and safety.

Daily CA One- Liner: May 20

• The Union Government transferred Kiran Rijiju from the Ministry of Law and Justice to the Ministry of Earth Sciences
• The Government has amended rules under the Foreign Exchange Management Act to bring in international credit card spends outside India under the Liberalised Remittance Scheme
• India will host the prestigious 2-day Asia Petrochemical Industry Conference (APIC), which will bring together global leaders from the petrochemical sector to debate on key issues related with growth, trade, investment and sustainability
• The government has decided to form 1,100 new Farmer Producer Organizations (FPOs) in the cooperative sector
• Geojit Financial Services has launched its latest mobile trading platform, FLIP, that will replace the existing platform SELFIE
• The National Stock Exchange will launch two new cash-settled energy futures contracts on WTI Crude Oil and Natural Gas
• IKEA India has partnered with HDFC to launch a consumer financing scheme offering EMI options ranging from 3 to 30 months, with a mix of no-cost (0 per cent) and low-cost
• The Centre for Digital Innovation & Transformation (CDiT) at the Indian Institute of Management Kozhikode (IIMK) and the Kerala Police Cyberdome Project, inked an MoU to augment cyber security measures in new-age policing
• The Union Cabinet approved the signing of memorandum of understanding between Competition Commission of India (CCI) and Egyptian Competition Authority
• Ajai Chowdhry one of the co-founders of HCL also an Entrepreneur, sportsman, and salesman authored a new book titled ‘Just Aspire’ ‘Just Aspire’  which is a motivational book that focuses on the importance of having a positive mindset, setting goals, and taking action to achieve them
• World Metrology Day is celebrated on May 20 annually
• Capital markets regulator Securities and Exchange Board of India (SEBI) proposed expanding the definition of qualified institutional buyer (QIB) for investing in debt securities in a bid to increase the supply of funds to the issuers of such securities.
• The government has appointed IDBI Capital, BOB Capital and SBI Capital to manage the initial public offer (IPO) of the Indian Renewable Energy Development Agency (IREDA).
• The Bombay Stock Exchange (BSE), Asia’s oldest stock exchange, relaunched Sensex and Bankex derivative contracts in its bid to boost derivative trading.
• The 76th Cannes Film Festival started in France.
• Himachal Pradesh (HP) Chief Minister (CM) Shri Sukhvinder Singh Sukhu launched the ‘Him’ data portal, a common digital platform to improve the delivery of welfare schemes by integrating real-time and accurate data of all government bodies.
• Madhya Pradesh (MP) Chief Minister (CM), Shri Shivraj Singh Chouhan, has launched a CM Farm Loan Interest Waiver Scheme namely Mukhyamantri Krishak Byaaj Maafi Yojana-2023 (Chief Minister Farmer Loan Waiver Scheme).
• The Appointments Committee of the Cabinet (ACC) has approved the appointment of Anil Kumar Jain as the new chairman of the oil and gas sector regulatory body, Petroleum & Natural Gas Regulatory Board (PNGRB).
• Raheja QBE General Insurance Company Limited has appointed Rajeev Dogra as the new Managing Director & Chief Executive Officer following regulatory approval from Insurance Regulatory and Development Authority of India.
• One 97 Communications Ltd, which owns Paytm, has appointed Bhavesh Gupta, as President and Chief Operating Officer (COO) of the company .