NATIONAL NEWS

India’s First Portable Solar Rooftop System

• The country’s first portable solar rooftop system was unveiled at Swaminarayan Akshardham temple complex in Gandhinagar, Gujarat.

• The 10 PV Port systems has been manufactured by New Delhi-based Servotech Power Systems Ltd and designed by German development agency Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ).

• The systems have been installed under the Union Ministry of New and Renewable Energy’s initiative to develop renewable energy cities across India.

IAF Test-Fires BrahMos Cruise Missile

• The Indian Air Force conducted a successful test fired the BrahMos cruise missile from the Sukhoi-30 MkI aircraft from the Eastern Seaboard.

• BrahMos missile flies at a speed of 2.8 Mach or almost three times the speed of sound.

• The firing of the missile was carried out in coordination with the Indian Navy.
• The missile hit the target with accuracy and precision.

Vagsheer submarine is Launched

• On 20 April 2022, INS Vagsheer, the sixth and last submarine of the Indian Navy’s Kalvari class submarines of Project 75 was launched at the Kanhoji Angre Wet Basin of Mazagon Dock Limited (MDL) in Mumbai, Maharashtra.

• Dr Ajay Kumar, Defence Secretary launched the submarine.

• The project is executed with French technical assistance.
• It was named after ‘Sand Fish’ a deadly deep sea predator of the Indian Ocean.
• INS Vagsheer will undergo a comprehensive and rigorous set of tests and trials for more than a year and will be delivered to the Indian navy in 2023.
• Four submarines built under Project-75 — INS Kalvari, INS Khanderi and INS Karang and INS Vela — have been commissioned in the Indian Navy.
• The fifth submarine, INS Vagir - is undergoing sea trails and will be commissioned in 2022.
• The first submarine ‘Vagsheer’ was commissioned in December 1974 and decommissioned in April 1997.

World's Largest Electric 3-Wheeler Factory

• California-based, Biliti Electric Inc (Biliti) has announced to establish the world’s largest electric three-wheeler factory in Telangana.

• The facility is expected to manufacture more than 2.4 lakh vehicles every year.

• The new plant is estimated to bring an investment of USD 150 million and generate over 3,000 jobs in line with the State’s policy to become a global hub for EV and energy storage manufacturing.
• The facilities will be built in two phases over an area of 200 acres.
• Biliti currently operates through an exclusive manufacturing partnership with Hyderabad- based Gayam Motor Works (GMW).

Pradhan Mantri Garib Kalyan Package Extended

• The ‘Pradhan Mantri Garib Kalyan Package (PMGKP), insurance scheme for Health Care Workers Fighting COVID-19’ has been extended for a further period of 180 days.

• It is to provide the safety net to the dependents of health workers who are deputed to take care of COVID-19 patients.

• The PMGKP was launched on 30th March, 2020 to provide comprehensive personal accident cover of Rs. 50 Lakh to 22.12 lakh health care providers including community health workers and private health workers who have been in direct contact and care of COVID-19 patients.
• Since the launch of the scheme, 1905 claims of Health workers who died while being deployed for Covid related duties have been settled.

INTERNATIONAL NEWS

New Payment System HELLO

• Russian Central Bank (Bank of Russia) has included a new payment system called HELLO into the national register of credit institutions.

• Payment system HELLO is a set of payment services and institutions that facilitates money transfer transactions.

• Russian commercial bank TransKapitalBank will be the operator of the system's payment infrastructure services.

BANKING

IFSCA Signs MoU with NIA

• The International Financial Services Centres Authority (IFSCA) has signed an MoU with the National Insurance Academy.

• The objective of the MoU is to provide a skilled talent pool in the insurance sector and capacity development in the field of insurance.

• It aims to develop a strong global connection and focus on the needs of the Indian economy as well as to serve as an international financial platform at regional and global level.
• Insurance is an emerging sector at International Financial Services Centres. This MoU endeavours to build the required skilled manpower for the International Financial Services Centre.

HDFC Sells 10% in HDFC Capital

• On 20 April 2022, Mortgage firm HDFC Ltd announced to sell 10 per cent stake in its private equity arm HDFC Capital Advisors to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs 184 crore.

• HDFC Capital is aligned with the government's goal to increase housing supply and support the Pradhan MantriAwas Yojana - 'Housing for All' initiative.

• ADIA is also the primary investor in the alternative investment funds managed by HDFC Capital.
• HDFC announced merger of the company with the country's largest private lender HDFC Bank to create a powerful organization.

ECONOMY NEWS

IMF to Cut India’s GDP

• The International Monetary Fund (IMF) has released its World Economic Outlook report.

• In its report IMF scaled down the gross domestic product growth forecast for India by 80 basis points (bps) to 8.2% in FY23.

• Earlier, this was estimated at 9%.
• IMF has also cut India’s FY24 GDP forecast to 6.9%. Earlier this was 7.1%.

AWARDS & PRIZES

National Metallurgist Award 2021

• The Union Steel Ministry will host National Metallurgist Award 2021 in New Delhi to recognise the outstanding contribution of metallurgists and engineers in the field of iron and steel.

• The programme will be chaired by the Steel Minister Ram Chandra Prasad Singh.

• The awards will be given under categories like Lifetime Achievement, National Metallurgist, For Research and Development in Iron and Steel Sector and Young Metallurgist.
• The process of submissions of applications or nominations for the National Metallurgist Award 2021 was initiated during August to September 2021.
• The name of the award was changed from National Metallurgist Day Award to National Metallurgist Awards.

APPOINTMENTS & RESIGNATIONS

Wipro's New Country Head for India

• IT major Wipro has appointed Satya Easwaran as the country head for India.

• He will be in charge of strengthening Wipro’s business in India across key industry sectors through strategic consulting, transformation and modernisation engagements.

• Prior to joining Wipro, Satya was the head of business consulting and the telecom, media & technology (TMT) sector leader at KPMG India.
• Satya holds an engineering degree in electronics from Mumbai University, and an MBA in finance and international business from the Leavey School of Business, Santa Clara University.

Prime Minister of Cote d’Ivoire

• President of Cote d’Ivoire Alassane Ouattara reappointed Patrick Achi as the new Prime Minister of Cote d’Ivoire.

• Patrick Achi has 30 days to form a new government.

• He has also worked as the government spokesman for President Alassane Ouattara. Patrick Achi is an Ivorian politician who served as Prime Minister of Ivory Coast from 8 March 2021 to 13 April 2022.
• Later he resigned on April 13 following the President’s will to carry out a reorganization of the government.

IMPORTANT DAYS

UN Chinese Language Day

• UN Chinese Language Day is observed every year on 20 April.

• The day is celebrated to pay tribute to Cangjie who invented the Chinese characters.
• The first celebration of the Chinese Language Day was observed on November 12, 2010.
• Language Days at the United Nations seek to celebrate multilingualism and cultural diversity as well as to promote equal use of all six official languages throughout the Organization.