NATIONAL NEWS

Zero Effect Zero Defect Scheme for MSME

• The Ministry of Micro, Small and Medium Enterprises (MSME) launched a revamped Zero Defect Zero Effect (ZED) Certification Scheme.
• The main objective of the scheme is to make Indian companies globally competitive and help them get easier access to capital.
• The Scheme is aimed to enable and facilitate MSMEs to adopt Zero Defect Zero Effect practices besides motivating and incentivizing them for ZED certification.
• The first phase of the revamped scheme will focus on manufacturing MSMEs, the second would be aimed at the MSMEs in the services sector.
• The government has proposed an 80% subsidy on the certification cost for micro enterprises, 60%for small enterprises and 50%for medium enterprises. There would be an additional 10% subsidy for women or SC/ST entrepreneurs-owned unit.

Solar Power Purchase Agreement

• ReNew Power announced that it has signed five solar Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) and Punjab State Power Corporation Limited (PSPCL).
• It has also signed multiple long-term purchase agreements with corporate buyers together totalling around 2 GW.
• The corporates include a large US-based global tech major, Grasim Industries (part of the Aditya Birla Group), and Netmagic (a subsidiary of NTT Communications, Japan).
• With these tie-ups, its gross total portfolio has jumped to 12.1 GW from 10.2 GW.
• The new utility solar projects will be located in the western state of Rajasthan and have flat tariffs over 25 years.
• All the projects are expected to be commissioned by the fourth calendar quarter of 2023.

Global Patidar Business Summit (GPBS)

• Prime Minister Narendra Modi inaugurated the Global Patidar Business Summit (GPBS) in Surat Gujarat through video conferencing.
• Sardardham is organizing GPBS under Mission-2026 to provide an impetus to the socio-economic development of Patidar community.
• The Summit is organized every two years.
• The main theme of GPBS-2022 is ‘Aatmanirbhar Community to Aatmanirbhar Gujarat and India’.
• The Summit aims to bring together small, medium and large enterprises within the community, nurture and support new entrepreneurs and provide training and employment assistance to the educated youth.
• The three-day Summit covers various aspects of the government’s industrial policy, MSMEs, start-ups and innovation among others.

IndiGo to Use GAGAN

• IndiGo Airlines owned by InterGlobe Aviation Ltd became the first airline in Asia to use the Localiser Performance with Vertical Guidance (LPV) Approach.
• The airline conducted the LPV approach on its ATR 72-600 aircraft, equipped with GAGAN, at Kishangarh Airport (Ajmer).
• The term GAGAN stands for GPS Aided GEO Augmented Navigation, a space-based augmentation system (SBAS), jointly developed by the Indian Space Research Organisation (ISRO) and the Airports Authority of India (AAI) to provide lateral and vertical guidance on an approach.
• This test flight is a part of the approval process with the Directorate General of Civil Aviation (DGCA), which includes training of pilots, validation of the approach, and simulator sessions amongst others.

BANKING

ICICI Bank Launches Digital Ecosystem

• Private lender ICICI Bank launched a digital ecosystem for micro, small and medium enterprises, including customers of other banks.
• The bank announced that anyone can avail the benefits of ICICI Bank’s digital solutions by downloading the new version of the InstaBIZ app or on the bank’s corporate internet banking platform.
• It includes services is sanction of instant and paperless overdraft facility up to ₹25 lakh.
• Existing customers of ICICI Bank can activate the overdraft into their current account instantly but customers of other banks can activate after opening a current account with the bank digitally through video KYC.

AWARDS & PRIZES

IBC Best Infrastructure Project Award

• The Border Roads Organisation (BRO) Engineering Atal Tunnel in Rohtang, Himachal Pradesh emerged as Indian Building Congress (IBC) ‘Best Infrastructure Project’ award in New Delhi.
• The strategic tunnel was named the Best Projects for Excellence in the Built Environment in 2021.
• Lt General Rajeev Chaudhry, Director General BRO received the prize during the 25th annual Convention of IBC.
• The tunnel was built using the New Austrian Tunneling Method.
• Atal Tunnel, which runs beneath the ‘Rohtang Pass’ on the Manali – Leh Highway, was officially certified by the World Book of Records as the ‘World’s Longest Highway Tunnel over 10,000 Feet.’

APPOINTMENTS & RESIGNATIONS

Additional Directors of Karnataka Bank

• The private sector lender, The Karnataka Bank Ltd has appointed Mr. Jeevandas Narayan and Mr. Kalmanje Gururaj Acharya as Additional Directors (Non-Executive, Independent) of the Bank under Section 161 of the Companies Act, 2013.
• Mr. Jeevandas Narayan is a graduate in Commerce from University of Mysore. He has over 40 years of vast experience in Banking and finance sector.
• Mr. Kalmanje Gururaj Acharya is a practising Chartered Accountant from Bengaluru having around 30 years of experience. He is presently the senior partner of M/s. K.G. Acharya & Co, Chartered Accountants, Bengaluru.
• He was also a Member of the Expert Advisory Committee of ICAI, New Delhi.

Chairperson of the National Commission for Scheduled Castes (NCSC)

• Vijay Sampla, a BJP leader and former Union minister, has been named chairperson of the National Commission for Scheduled Castes (NCSC) for the second term.
• President Ram Nath Kovind issued the official order for his appointment.
• Sampla, a well-known Dalit politician from Punjab, first entered politics in 1998 as the sarpanch of Sofipind village in Jalandhar Cantonment. He has also held positions in the Punjab government.
• From 2008 to 2012, he was the head of the Punjab Khadi Board, and in 2014, he was the chairman of the Punjab State Forest Development Corporation.
• In 2015, he was elected to the Lok Sabha from Hoshiarpur and appointed as a union minister.

MD-CEO of Future Generali India Life Insurance

• Future Generali India Life Insurance (FGILI) has appointed Bruce de Broize as Managing Director and Chief Executive Officer of the board.
• Bruce de Broize takes over from Miranjit Mukherjee who was serving as interim CEO since September 2021.
• He was the Regional Head of Distribution for Generali Asia based in Hong Kong for over five years.
• Bruce has a career spanning over 34 years of Life and P&C insurance experience. He has also held a range of senior leadership roles to drive strategic initiatives across Asia.

DEFENCE

Vikrant to be Handed Over to Indian Navy

• The Indigenous Aircraft Carrier Vikrant being built by the Cochin Shipyard Ltd will be handed over to the Indian Navy by August 2022.
• Technical Director of the Cochin Shipyard Bijoy Bhaskar announced the final sea trial of the IAC will take place in May.
• It is in the process of setting up a new drydock, with a 600-tonne gantry crane, capable of handling vessels up to Suezmax, aircraft carriers of 70,000 tonnes displacement, Jack-up rigs and LNG vessels.
• The International Ship Repair Facility being established by the Shipyard will have a 6,000-tonne shiplift and six work stations.

BOOKS & AUTHORS

Book on Amit Shah

• Former Chief Minister of Maharashtra Devendra Fadnavis, released a book on Amit Shah titled ‘Amit Shah Ani Bhajapachi Vatchal’.
• The book is published by Bloomsbury India.
• The book narrates the life of Amit Shah and his contributions to BJP in making it as the World’s biggest political organization.

IMPORTANT DAYS

International Dance Day

• International dance day is celebrated every year on 29 April.
• It is to promote art and culture and raise awareness among the people regarding the art of dance.
• Dance is an art, and also it is a method of communication in cultures around the world.
• International dance day was created by the dance committee of the ITI (International Theatre Institute) in the year of 1982.
• French dance artist (well-famed) Jean-Georges Noverre who is a famous dancer, ballet master, great reformer of dance. He was born on 29 April 1727 and hence dance day is celebrated on April 29.