Latest Current Affairs For Thursday 6th April, 2023

Kiran Nadar conferred with France's highest civilian award

Kiran Nadar was conferred “Chevalier de la Légion d’Honneur” (Knight of the Legion of Honour) by French Ambassador to India Emmanuel Lenain in April 2023.

Reason: In recognition of her contribution to the field of art, her commitment to providing greater access to culture both nationally and internationally, and her leading role in fostering Indo-French cultural ties. 

She is a chairperson of the Kiran Nadar Museum of Art.

PM applauds GI Tag for Ladakh's Wood Carving

The world-famous Basohli Paintings from the Kathua district of Jammu and Kashmir and the Ladakh Wood Carving of Ladakh have received the Geographical Indication (GI) Tag.

The process for GI Tagging of these products was started by NABARD in consultation with and support from the Department of Handicrafts and Handloom in December 2020.

A GI tag is a sign used on a product that has a special geographical origin.

Telangana announces ‘cool roof’ policy to reduce heat impact on buildings

Telangana govt has launched India’s first Cool Roof Policy 2023-2028 at the CDMA office in Telangana.

It is jointly launched by the state's municipal administration and urban development department.

The policy aims to drive state-wide adoption of cool roofs by making it mandatory to install cool roofing materials, such as solar reflective paints, tiles, or sheets.

It is a five-year policy, that came into force on April 1, 2023, and continues till March 31, 2028.

India US to sign Rs 2400 crore deal for missiles, torpedoes for Indian Navy

The Indian government will sign a weapons deal with the United States government to buy American weapons, including the Hellfire missiles and Mark 54 anti-submarine torpedoes.

Aim: Towards strengthening their military hardware cooperation. 

These weapons will be fitted on the 24 MH-60 helicopters that are going to be fully inducted into the Navy in the near future.

The deal would be inked under the Foreign Military Sales route.

PhonePe's e-commerce app Pincode live on ONDC network

PhonePe has launched a new consumer-facing application named Pincode, which will be a part of India's Open Network for Digital Commerce (ONDC) framework.

Aim: To strengthen its e-commerce forays

Pincode is a buyer app that focuses on hyperlocal commerce and is available for download on both Google Play and the App Store.

It will launch in six major categories including grocery, food, pharma, electronics, home decor, and fashion.

Govt approves Army proposal to induct woman officers in Artillery

Minister of State for Defence Ajay Bhatt informed the Lok Sabha that the central government approved the induction of women in the Regiment of Artillery.

In January 2023, the proposal to induct woman officers in the Regiment of Artillery was sent to the government.

The exact number of woman officers who will be inducted into the Artillery will only be known at the time of the commission of the next batch from the Officers Training Academy (OTA) in Chennai.

Mukesh Ambani regains Asia's richest person spot: Forbes

According to the Forbes Billionaire 2023 list, Mukesh Ambani has regained his spot as Asia's richest person after rival Gautam Adani (USD 47.2 billion) tumbled to No. 24.

Ambani (65) was ranked at No. 9 on the world billionaire list with a net worth of USD 83.4 billion.

Bernard Arnault (CEO of LVMH) topped the Forbes Billionaires 2023 Rankings with an estimated net worth of a whopping 211 billion.

Elon Musk placed second, followed by Jeff Bezos and Lary Ellison.

Govt withdraws windfall gains tax on crude oil production

The government has removed the windfall tax on crude oil production to nil from 3,500 rupees ($42.56) per tonne and on diesel has been slashed to Rs 0.5 per litre from Re 1 per litre, effective from April 4, 2023.

Windfall tax: It is levied by governments when an industry unexpectedly earns large profits.

The tax was levied in July 2022 as high energy prices led to soaring profits for oil producers.

The decision comes at a time when OPEC+ decided to cut production.

National Maritime Day 2023: April 5

India observed the 60th National Maritime Day on April 5, 2023, to commemorate the sailing of the first Indian commercial vessel, SS Loyalty.

The ship sailed from Mumbai to London.

This day was started by the Ministry of Ports, Shipping, and Waterways in 1964.

The theme for 2023 has not yet been announced.

The theme for National Maritime Week 2023 is 'Amrit Kaal in Shipping'.

World Maritime Day is observed on 28 September.

IIT Kanpur host Y20 Consultation under G20 Presidency of India

The Indian Institute of Technology (IIT) Kanpur is being hosted the Youth20 (Y20) Consultation under the G20 Presidency of India on April 5, 2023.

The two-day event was attended by more than 1,200 youth delegates from across India and abroad.

It is a platform that brings young people together to connect and share ideas on finding innovative solutions to pressing global concerns.

It is a pan-India activity in the run-up to the final Y20 Summit to be held in Varanasi, UP. 

ADB cuts India GDP growth forecast to 6.4% for FY24

According to the latest edition of ADB's flagship economic publication, Asian Development Outlook (ADO) April 2023, India's GDP would grow to moderate to 6.4% in FY24 (2023-24).

Reason: Risks arising from global and domestic factors

ADB has also highlighted that India's GDP will rise in FY25 to 6.7%.

While inflation will likely moderate to 5% in 2023-24, assuming moderation in oil and food prices.

Inflation will be at 4.5% in FY25.

Canara Bank launches Premium Payroll Account

Canara Bank has introduced a “Premium Payroll Package” for Salary account holders with competitive features.

This product has been designed to meet all Banking requirements of Salaried Customers.

Features: Free Term Life Insurance, Insta over Draft, free Personal & Air Accident Insurance coverage, Premium Cards, etc.

Eligibility:

All employees of a firm/company with a minimum of 5 employees.

Age: 18-65 years

Salary Band: Rs. 50,000-Rs.1,00,000

Skyroot Aerospace successfully test-fires 3D-printed cryogenic engine

Skyroot Aerospace has successfully test-fired a fully 3D-printed 'Dhawan II' cryogenic engine for 200 seconds.

The company developed the engine for its heavier vehicle, Vikram II.

This engine will be used as the upper stage of the updated version of Vikram-II.

A cryogenic upper stage instead of a solid fuel stage enhances the payload-carrying capacity of a rocket.

In 2022, Skyroot Aerospace became the first Indian private company to send a rocket into space.

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.