NATIONAL NEWS

India’s Largest PEM Based Green Hydrogen Project

• In line with the National Hydrogen Mission, GAIL (India) Limited has announced to set up one of the largest Proton Exchange Membrane (PEM) Electrolyser in India.
• The project would be installed at GAIL’s Vijaipur Complex, in Guna District of Madhya Pradesh.
• It would be based on renewable power.
• It is scheduled to be commissioned by November 2023.
• The Project has been designed to produce around 4.3 Metric Tons of Hydrogen per day.

NITI Aayog Launches National Data and Analytics Platform

• On 13 May 2022, NITI Aayog launched the National Data and Analytics Platform.

• The platform aims to access Government data to public by making data accessible, interoperable, interactive and available on a user-friendly platform.
• The platform was launched by Vice Chairman of NITI Aayog Suman Bery in the presence of Chief Executive Officer of NITI Aayog Amitabh Kant and other senior officials from NITI Aayog.
• This platform is a critical milestone which aims to aid country's progress by promoting data-driven disclosure, decision making and ensuring availability of data.

Ministry of Agriculture and Farmers Welfare signs MoU with UNDP

• The Ministry of Agriculture & Farmers Welfare (MoA&FW), Government of India and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU).
• It is to provide technical support towards Centre’s aspirational Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme & Kisan Credit Card – Modified Interest Subvention Scheme.
• As per the MoU, UNDP will provide responsive, demand-driven technical assistance for effective implementation of agriculture credit and crop insurance, as well as providing capacity development and Information.

‘BHARAT TAP’ Initiative at Plumbex India Exhibition

• The Minister for Housing and Urban Affairs & Petroleum and Natural Gas, Shri Hardeep S Puri launched the BHARAT TAP initiative at the ‘Plumbex India’ exhibition.
• This exhibition is aimed for products and services related to the plumbing, water and sanitation industry.
• Shri Puri also launched ‘Nirmal Jal Prayas’ initiative which works for saving of 500 crore litres of water per year.
• BHARAT TAP initiative will provide low-flow, sanitary-ware at scale, and thereby reduce water consumption at source considerably and will lead to a renewed focus on water conservation efforts.

MoRD and Amazon

• An MoU between Ministry of Rural Development and Amazon Seller Services Private Limited (Amazon) was signed at Krishi Bhawan, New Delhi.
• It is to enable SHG entrepreneurs under NRLM to offer their products to the buyers across India through Amazon Saheli Storefront and help SHG women achieve good price for their varied products.
• Amazon and MoRD will jointly enable Commercial and social development of women led rural enterprises across identified States and Union Territories.
• MoRD & Amazon will conduct joint workshops for awareness creation and assist the sellers in listing their products and to unlock growth levers to grow their business on Amazon.in.

INTERNATIONAL NEWS

USD 800,000 To Promote Hindi at UN

• India has contributed USD 800,000 to the United Nations as part of the initiative to enhance public outreach of the organization in Hindi.
• India’s Deputy Permanent Representative to the United Nations, R Ravindra handed over a cheque for the UN project launched by India in 2018 to disseminate information about the UN to the Hindi-speaking population across the world.
• The Government of India has been making continuous efforts to expand the use of Hindi in the United Nations.

India-UAE Economic Partnership Summit

• Union Commerce Minister Piyush Goyal and Economy Minister of United Arab Emirates Abdullah Bin Touq Al Marri inaugurated India-UAE Economic Partnership Summit in Mumbai.
• This summit was organised by Confederation of Indian Industry.
• It is to promote new trade, investment and innovation dynamic in diverse sectors, including economy, energy, climate action, emerging technologies, skills and education, food security, health care and defence and security.
• UAE is second largest exporter to India. CEPA gives good opportunities for Indian companies to expand their reach in UAE.

BANKING

Cross Border Trade Finance Service

• Union Bank of India has launched Trade nxt, a cross border trade finance service for Indian exporters and importers.
• ‘Trade nxt’ eliminates the need for companies to visit a bank branch to initiate a trade transaction and ensures better governance with enhanced security and controls
• The platform will enable enterprises to conduct all export/import transactions, including entry and processing of letters of credit, bank guarantees, etc.,
• The platform will also enable regulatory online auto reporting through import Data Processing & Monitoring System (IDPMS), Export Data Processing & Monitoring System (EDPMS) and other statutory reporting pertaining to ODI/ FDI/ LRS transactions.

ICICI Bank Partners with Santander UK

• India's leading private sector bank, ICICI Bank announced a tie-up with Santander bank in Britain.
• It is designed to establish a framework of the partnership between the banks to meet the financial service requirements of corporate customers operating within the India-UK corridor.
• ICICI Bank will provide banking solutions across trade, cross-border payments, supply chain and retail banking to the UK corporates operating in India and Santander UK will support Indian corporates and new-age businesses for their banking requirements in the UK.
• India has been a preferred foreign investment destination for UK businesses.

RANKS, INDICES & REPORT

Recipient of Foreign Remittance: World Bank

• The World Bank released report on migration and development, Bangladesh was the 7th highest recipient of remittance from abroad in 2021.

• It received over USD 22 billion as remittance in 2021 which marked an increase of 2.2 percent over the year 2020.
• According to World Bank, Bangladesh is expected to have a growth of about 2 percent in the year 2023.
• India topped the list in the world receiving USD 89 billion in remittance followed by Mexico at USD 54 billion, and China at USD 53 billion in 2021.

APOINTMENTS & RESIGNATIONS

President of Confederation of Indian Industry

• Industry body Confederation of Indian Industry (CII) has appointed Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv Limited, as its new president for the year 2022-23.
• He succeeded T V Narendran who is the CEO and Managing Director of Tata Steel Ltd.
• Sanjiv has previously engaged with CII at the state, regional and national level. He was the President-Designate for 2021-22 and the Chairman of the Western region during 2019-20.
• He has also led CII National Committees on Insurance and Pensions and CII taskforce on Fintech.
• R Dinesh, Executive Vice Chairman for TVS Supply Chain Solutions took charge as the Vice President.

New Prime Minister of Sri Lanka

• Ranil Wickremesinghe, Sri Lanka’s veteran political leader has been appointed as the next Prime Minister of Sri Lanka.

• Ranil Wickremesinghe heads the United National Party.

• Ranil Wickremesinghe has already served as the Prime Minister of the island nation for five times.
• Ranil Wickremesinghe came in to force after Mahinda Rajapaksa resigned as the Prime Minister of Sri Lanka on 09 May 2022.

First Indian Ambassador of Louis Vuitton

• Deepika Padukone has been named first-ever Indian brand ambassador of Louis Vuitton.

• Deepika Padukone was unveiled as a Louis Vuitton brand ambassador in its new leather goods campaign for the Dauphine bag.

• Actor Emma Stone and Chinese actor Zhou Dongyu were also present during the campaign.

SCIENCE & TECHNOLOGY

Large Human-Rated Solid Rocket Booster

• The Indian Space Research Organisation successfully completed the static test of a human-rated solid rocket booster (HS200) for the Gaganyaan program at Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh.

• HS200 booster loaded with 203 tons of solid propellant was tested for a duration of 135 seconds.

• It is the world’s second largest operational booster with solid propellent of 20 long and 3.2 diameter.
• The HS200 is the human-rated version of the S200 rocket booster of satellite launch vehicle GSLV MK III.
• The system is indigenously designed and developed by ISRO in participation with various industries spread across the country.
• Design and development of the HS200 booster were completed at Vikram Sarabhai Space Centre (VSSC), Thiruvananthapuram, Kerala.