NATIONAL NEWS

RINL Launches ‘Open Challenge Program (OCP) 2.0’

• Rashtriya Ispat Nigam Limited (RINL) launched ‘Open Challenge Program (OCP) 2.0’ as part of a series of OCP programs.

• The objective of this program is to select startups specialising in Industry 4.0 technologies for collaboration with RINL.

• The startups' technologies are expected to provide faster return on investment for RINL, contribute to energy savings and enhance process safety.

• The ‘Center of Excellence (CoE) on Industry 4.0’ project involves collaboration between STPI (Software Technology Parks of India), MeitY (Ministry of Electronics & IT), RINL and Government of Andhra Pradesh.

ICMR Successfully Tests Blood Bag Delivery Under iDrone Initiative

• The Indian Council of Medical Research (ICMR) has recently successfully tested the delivery of blood bags by drone under its iDrone initiative.
• A drone carrying a blood bag weighing 500 grams flew for a distance of 12 kilometres and delivered it safely at the designated location.
• The drone then returned to the base station with another blood bag.
• Its objective is to address the challenges of blood transfusion services in rural and tribal areas, where access to blood banks and transportation facilities is limited.
• It was launched by the Indian Council of Medical Research (ICMR).

First North East SMB Outreach Program BizAmp

• Union Ministry of Micro, Small and Medium Enterprises (MSME) has launched BizAmp.

• It is the first outreach programme to empower MSMEs from the North-Eastern States and amplify their businesses utilizing benefits under Self-Reliant India (SRI) Fund.

• Organized by the Ministry of MSME in association with NSIC Venture Capital Fund Limited (NVCFL) under its SRI Fund.

• It served as a platform for the empanelled daughter funds of SRI Fund to reach the MSMEs in the North East Region of India.

• It focuses upon maximizing capital benefits through NVCFL’s SRI Fund.

• The Government of India, launched SRI Fund with an outlay corpus of Rs 10,006 crore, concentrated towards financing an infusion of capital to MSMEs through Daughter Funds.
• The SRI fund which is being managed by NVCFL, is an Alternative Investment Fund (AIF) providing growth capital to MSMEs through equity/quasi-equity/equity-like structured instruments.
• As on 31st March 2023, the fund has made a capital commitment of Rs. 5,120 crore to 42 empaneled daughter funds.

INTERNATIONAL NEWS

UAE's Sharjah Police Launches 'Stay in Your Lane' Campaign

• UAE's Sharjah Police launched a traffic campaign called ‘Stay in Your Lane’ to tackle road violations.

• The campaign aims to improve traffic culture among drivers and other road users by increasing awareness and promoting adherence to traffic rules and instructions.

• The campaign includes the dissemination of awareness messages in three different languages through the social networking sites of Sharjah Police.

BANKING

RBI Invites Firms to Participate in Greenwashing TechSprint

• RBI has announced its participation in the Global Financial Innovation Network (GFIN) greenwashing techSprint.

• The Reserve Bank of India (RBI) has invited firms to participate in the Greenwashing TechSprint to develop technology solutions to detect incidents of greenwashing in financial products.

• TechSprint is part of RBI's efforts to promote sustainable finance and ensure that financial products marketed as green or sustainable are actually aligned with environmental objectives.

• TechSprint is open to firms and individuals who can provide innovative technology solutions to detect greenwashing in financial products using technologies such as natural language processing and artificial intelligence.

• TechSprint can provide a platform for collaboration between tech firms, financial institutions and regulators to develop solutions that can increase transparency and trust in the market for sustainable finance.
• Greenwashing refers to the practice of making false or misleading claims about the environmental benefits of a product or service.

First Agritech Firm to Receive NBFC License

• Unnati, a fintech-based agritech company, made an announcement regarding its subsidiary, Ora Finance, becoming the first-ever agritech firm to receive non-banking financial company (NBFC) license.

• It will allow the company to meet the financial requirements of those in the agricultural sector, like farmers, retailers, traders, brands and food processors.

• Unnati has a network of more than one lakh registered retailers and traders who use its uStore app to engage with the farmers and manage their agribusinesses on a day-to-day business.

• These partners reach out to over 3 million farmers through its apps.

• The company must be registered under the Companies Act 2013, or any other relevant law.

• The company must have a minimum net owned funds of 2 crores.
• The company must have a board of directors with at least one director having at least 10 years of experience in the banking or financial sector.

AIBEA is set to Launch ‘Bank Clinic’

• The All India Bank Employees’ Association (AIBEA), is the oldest and largest national trade union of bank employees in India plans to set up an online ‘Bank Clinic’ to assist bank customers with grievance redress.

• Once a bank’s retail customer lodges an online complaint with “Bank Clinic”, ALBEA’s team will take up the complaint with the Bank for redress.

• The Bank Clinic will be one more channel through which a retail bank customer can get his grievances addressed besides the normal Banking Ombudsman channel.

SPORTS

ISSF World Cup 2023

• Indian shooters Hriday Hazarika and Nancy Mandotra won the silver medal in the 10m Air Rifle event at the ISSF World Cup 2023 in Baku, Azerbaijan.

• It was the first ISSF World Cup medal for both Hriday Hazarika and Nancy Mandotra.

• Hriday Hazarika qualified for the men's 10m air rifle final, where he won the silver medal.

• ISSF World Cup was established in 1986 by the International Shooting Sport Federation (ISSF).

• Its main objective is to establish a standardised qualification system for Olympic shooting competitions.

AWARDS & PRIZES

Sagar Shreshta Award 2023

• Cochin Port has been awarded the prestigious Sagar Shreshta award for the year 2023 by the Ministry of Shipping in recognition of its outstanding performance in the maritime sector.

• The Sagar Shreshta award is given to Indian ports for achieving excellence in various categories, including efficiency, productivity, and environmental sustainability.

• Cochin Port was selected for the award based on its impressive track record of achieving high standards of operational efficiency, safety, and environmental sustainability, as well as its contribution to the development of the maritime sector in India.

• The port has implemented several innovative initiatives to enhance its operational capabilities and improve customer satisfaction, including the introduction of digital platforms for cargo tracking and real-time vessel monitoring.

APPOINTMENTS & RESIGNATIONS

CEO of Twitter

• Linda Yaccarino, former advertising chief at NBCUniversal, has been appointed as the new CEO of Twitter.

• Yacarino will primarily focus on business operations, while Elon Musk will focus on product design and new technology.

• Yacarino is credited with modernizing the advertising business of Comcast Corp's entertainment and media division.

DEFENCE

Indian Army to Have Common Uniform for Brigadier

• The Indian Army has decided that from 01 August 2023 officers of the rank of Brigadier and above will have a common uniform irrespective of their different parent cadre and appointment.

• The decision was taken after detailed deliberations during the recently concluded Army Commanders’ Conference.

• As part of the decision, headgear, shoulder rank badges, gorget patches, belts and shoes of senior officers will be standardised.
• There will be no change in the uniform worn by officers of the rank of Colonel and below.
• The Indian Army has decided to adopt this common uniform to promote and strengthen common identity and approach in service matters amongst senior leadership, beyond the boundaries of regimentation.
• The officers of brigadiers and above in the Indian Army are those who have already commanded units or battalions and are mostly posted at headquarters or establishments where officers from all arms and services work together.

IMPORTANT DAYS

World Migratory Bird Day

• World Migratory Bird Day 2023 is observed every year on 13 May.

• It is celebrated with an aim to focus on the conservation of migratory birds.

• Migratory birds are those birds that migrate to other parts of the world other than their native places to escape the winter season.

• Migratory birds travel thousands of miles each year, often facing numerous challenges such as habitat loss, climate change, and illegal hunting along their journey.
• World Migratory Bird Day aims to promote international cooperation to conserve migratory birds and their habitats through awareness-raising, education, and conservation actions.
• Theme of World Migratory Bird Day 2023 is ‘Water and its importance for migratory birds’.
• The day was first initiated in 2006 by the United Nations Environment Programme (UNEP) and the Convention on Migratory Species (CMS).