Latest Current Affairs For May, 2023

Kiren Rijiju launched the trailer of the first Tagine language film

Union minister Kiren Rijiju has launched the trailer of the "first ever" movie in the Tagin language of his home state Arunachal Pradesh.

The film "Love in 90s" will be tax-free and will ask the state government to promote it through other means as well.

The film looks at displaying the culture of the Tagin community before the whole country and the world.

Tagin or Ghasi Miri tribe is an indigenous community of the Tawang and West Kameng districts, Arunachal Pradesh.

Uttar Pradesh becomes first state to make digital health cards for children

The Uttar Pradesh's Urban Development Department and Lucknow Smart City launched a “School Health Program”.

This program has been started by Lucknow Smart City in three schools in Lucknow.

A digital health report card for the overall physical and mental well-being of 1765 municipal school students is also being prepared under the project.

The benefit of health insurance worth Rs 25,000 is also being given to these children.

The 42nd ASEAN Summit begins in Indonesia

The 42nd Summit of the Association of Southeast Asian Nations (ASEAN) started in Indonesia on May 8, 2023.

2023 theme: ASEAN Affairs: Epicenter of Growth. 

Aim: To demonstrate the bloc’s hopes and efforts to become the center and driving force behind global development. 

ASEAN is an organization formed by the governments of Malaysia, Indonesia, the Philippines, Thailand, and Singapore in 1967.

Aim: To promote economic growth in the Southeast Asian region. 

Hindi version of Uttarakhand DGP's book 'Cyber Encounters' released

Uttarakhand CM Pushkar Singh Dhami launched the Hindi version of cybercrime named ‘Cyber Encounters’.

This book was co-authored by state director general of Police (DGP) Ashok Kumar and former DRDO scientist OP Manocha.

This book will help the readers in becoming aware of various cyber crimes as it has mentioned actually related cases.

It will serve to inspire people to protect themselves from cybercrime.

Renowned Bengali author Samaresh Majumdar passes away

Renowned Bengali author Samaresh Majumdar passed away at 79.

He was best known for his political trilogy – Uttaradhikar, Kalbela, and Kalpurush.

He has conferred the Sahitya Akademi Award for ‘Kalbela’, which was set against the backdrop of the Naxalite movement.

He was awarded ‘Bangavibhushan’ by the West Bengal government in 2018.

Famous books are: Daur, Kalbela, Kalpurush, Garbhadharini, Uttaradhikar, Arjun Samagra, Satkahan etc

RBI parks incremental reserves in US treasuries, other sovereign securities

The Reserve Bank of India (RBI) has deployed it's incremental reserves in bonds and Securities, focusing on US Treasuries and debt issued by other top-rated sovereigns.

Reason: To manage its foreign currency assets and ensure the stability of the Indian economy. 

The latest half-yearly report on foreign exchange management showed that as of end-March 2023, of the total foreign currency assets of $509.69 billion, $411.65 billion was invested in securities.

Ban diesel four-wheelers in cities with 10 lakh population: Panel

According to a report commissioned by the oil ministry, India should ban the use of diesel-powered four-wheelers in cities with over 10 lakh population by 2027 and switch to electric and gas-fuelled vehicles.

The report of the committee headed by former Oil Secretary Tarun Kapoor. 

It has also suggested phasing out motorcycles, scooters, and three-wheelers with internal combustion engines by 2035. 

It help India to achieve the goal of cutting emissions to net zero by 2070. 

TNCA launches talent scout program for women

The Tamil Nadu Cricket Association (TNCA) has launched a Talent Scout Program for women to unearth new talents.

The Talent Scout Wing which will comprise former men and women first-class cricketers and coaches, will help in identifying the talent across the state. 

The TNCA has formed four groups of four members each who will cover all 37 districts in Tamil Nadu.

Any player who is above 13 years of age can attend the trials.

PMJJBY, PMSBY, and APY complete 8 years of inception

Pradhan Mantri Suraksha Bima Yojana (PMJJBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY), and Atal Pension Yojana (APY) have completed their 8 years of providing social security cover on May 9.

PMJJBY: One-year life insurance scheme renewable from year to year offering coverage for death for any reason.

PMSBY is a one-year accidental insurance scheme renewable from year to year offering coverage for death or disability due to an accident.

MoHUA, MoR jointly ink MoU with JICA for Project SMART

The MoHUA and the Ministry of Railways jointly signed an MoU with Japan International Cooperation Agency for 'Station Area Development along Mumbai-Ahmedabad High-Speed Rail' (Project-SMART).

Project-SMART envisages developing surrounding areas of Mumbai - Ahmedabad High-Speed Railway (MAHSR) Stations.

This also aimed to enhance accessibility and convenience of commuters & other stakeholders and to promote economic activities in the vicinity of station areas.

RBI imposes ₹1.73 crore fine on HSBC for wrong credit card data

RBI has imposed a monetary penalty of ₹1.73 crore on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for contravention of Credit Information Companies Rules, 2006.

HSBC has furnished incorrect credit information regarding several expired credit cards with nil dues to all four credit information companies.

The RBI imposed the penalty in the exercise of powers conferred under the provisions of Section 25(1) and Section 23(4) of the CIC (Regulation) Act, 2005.

Fitch lowered India’s GDP growth forecast to 6% for 2023-24

Fitch Ratings has predicted India's GDP growth forecast for 2023-24 to 6% from 6.2% and 6.7% in 2024-25.

Reason: Headwinds from elevated inflation, interest rates, and subdued global demand. 

The rating firm has also reaffirmed India’s long-term foreign-currency issuer default rating at ‘BBB-’ with a stable Outlook. 

‘BBB’ issuer default rating indicates that expectations of default risk are currently low and payment capacity to meet financial commitments is considered adequate. 

Barbara Kingsolver and Hernan Diaz win Fiction Pulitzer Prize 2023

Barbara Kingsolver (American Novelist) and Hernan Diaz (Argentina Writer) were awarded the Pulitzer Prize 2023 in the fiction category.

Barbara Kingsolver was awarded for her novel 'Demon Copperhead' and Hernan Diaz won for his novel 'Trust'.

Other categories:

Drama: English, by Sanaz Toossi. 

Biography: G-Man: J. Edgar Hoover and the Making of the American Century, by Beverly Gage (Viking). 

Memoir or Autobiography: Stay True, by Hua Hsu (Doubleday). 

Joe Biden appoints Indian-American Neera Tanden as Domestic Policy Advisor

United States President, Joe Biden named Indian-American Neera Tanden as his Domestic Policy Advisor to help him craft and implement his domestic policy agenda.

She has replaced Susan Rice as Biden's Domestic Policy Advisor.

She served in both the Obama and Clinton administrations, as well as presidential campaigns and think tanks.

Tanden previously served as senior advisor for health reform at the Department of Health and Human Services.

World Thalassaemia Day 2023: 8 May

World Thalassaemia Day is celebrated every year on May 8 to create awareness about the disorder and explore treatment options.

2023 theme: Be aware. Share. Care: Strengthening Education to Bridge the Thalassaemia Care Gap. 

This day was created by Panos Englezos (President and Founder of the Thalassemia International Federation) in 1994.

Thalassemia is a genetic blood disorder that is inherited by children from their parents.

MoS Nityanand Rai inaugurates Dawki land port in Meghalaya

Union Minister Nityanand Rai has inaugurated the Dawki Land Port in West Jaintia Hills district, Meghalaya.

Aim: To promote trade and commerce between India and Bangladesh

The corresponding Land Port in Bangladesh is Tamabil, located in the Sylhet district.

The Dawki Land port will facilitate the movement of goods, people, and vehicles across the border.

It will also facilitate passenger movement across the border.

New Lithium deposits discovered in Rajasthan after J-K

After Jammu and Kashmir, lithium reserves have been traced in the Degana district of Rajasthan.

According to officials, the lithium reserves are higher than the ones recently found in Jammu and Kashmir.

Officials have also informed, that the quantity of lithium here can meet around 80% of India's demand.

For the first time, lithium reserves were found in Jammu and Kashmir's Reasi in February 2023.

Lithium is a key component of batteries used in electric vehicles.

Minister Piyush Goyal to attend 6th India- Canada Ministerial Dialogue

Union Minister of Commerce & Industry, Piyush Goyal, and Mary Ng, Minister of International Trade, Canada have co-chaired the discussions for the sixth India- Canada Ministerial Dialogue on Trade and Investment (MDTI) in Ottawa.

MDTI is a bilateral mechanism that provides an institutional mechanism to discuss a broad spectrum of trade and investment-related issues and cooperation areas.

The Ministers have also reviewed India-Canada CEPA negotiations.

World Red Cross Day 2023: May 8

World Red Cross Day is celebrated on May 8 every year to honor the birth anniversary of Henry Dunant, who founded the Red Cross.

World Red Cross Day is also known as Red Crescent Day.

The theme of World Red Cross Day 2023 is ‘Everything we do comes #fromtheheart’.

This day recognizes the significant contributions of the International Red Cross toward providing humanitarian services to individuals regardless of their race, religion, or political beliefs.

Union Minister G Kishan Reddy inaugurates PM Jan Aushadhi Kendra

Union Tourism Minister G Kishan Reddy inaugurated a PM Jan Aushadhi Kendra at Warasiguda in Secunderabad.

Aim: To provide affordable healthcare and generate self-employment opportunities for Youth. 

It was launched to make quality generic medicines available to the common man at a low cost.

PM Bhartiya Janaushadhi Pariyojana:

Launched by: Department of Pharmaceuticals,  Ministry of Chemicals and Fertilizer. 

Initially launched in 2008. 

The scheme was rechristened in 2015

Rocket Lab launches NASA satellites to study tropical storms and hurricanes

Rocket Lab has launched NASA's two satellites to study tropical storms and hurricanes.

The two CubeSats, the founding members of the agency's TROPICS network, launched atop a Rocket Lab Electron rocket, which was lifted off from New Zealand.

Aim: To improve forecasting and provide new insights into how tropical storms evolve and intensify

The TROPICS constellation will consist of four CubeSats in low Earth orbit.

Spain's Carlos Alcaraz wins Madrid Open 2023

Spanish tennis player, Carlos Alcaraz has successfully defended his title at Madrid Open 2023 and won his fourth ATP Tour trophy of the year and his tenth overall.

In the final, he defeated Jan-Lennard Struff (German) 6-4 3-6 6-3.

While Aryna Sabalenka from Belarus has clinched the Women's singles title at Madrid Open 2023.

Other winners:

Men's doubles: Karen Khachanov /  Andrey Rublev

Women's doubles: Victoria Azarenka / Beatriz Haddad Maia

India's first Air Force Heritage Centre inaugurated in Chandigarh

Defence Minister, Rajnath Singh has inaugurated India's first Indian Air Force Heritage Centre in Chandigarh.

It will highlight the IAF’s role in various wars.

It also houses the first IAF-made patent aircraft Air Force ‘Kanpur-1 Vintage Prototype Aircraft’, a single-engine indigenous flying machine designed and built by the late Air Vice Marshal Harjinder Singh in 1958.

In June 2022, an MoU on the heritage centre was signed between the Chandigarh administration and IAF.

Border Roads Organisation Project Dantak 64th Raising Day

The Prime Minister has praised the initiative by Border Roads Organisation Project Dantak to commemorate 64th Raising Day.

About Project Dantak:

Project Dantak is one of the oldest projects of the Border Roads Organization (BRO).

It was established on 24th April1961.

It was a result of the visionary leadership of the King of Bhutan and Jawahar Lal Nehru, then Prime Minister of India.

It was established under the provision of the Indo-Bhutan Treaty of Peace and Friendship, 1949.

The project is playing a major role in identifying the most important aspects of connectivity and promoting the socio-economic growth and development of Bhutan.

It is tasked with the construction and maintenance of roads suitable for motorized transport in Bhutan.

About Border Roads Organisation (BRO)

BRO, a pioneer in the field of infrastructural development in the border areas of the country.

BRO is a major road construction agency under the Ministry of Defence with the primary objective of providing road connectivity to the border areas.

BRO was formed on 7th May 1960.

It develops and maintains the road network in India's border areas and friendly neighbouring countries.

This includes operating infrastructure in 19 states and three union territories (including the Andaman and Nicobar Islands) and neighbouring countries such as Afghanistan, Bhutan, Myanmar, Tajikistan and Sri Lanka.

One of the biggest infrastructural achievements of BRO - longest highway tunnel built in Himachal Pradesh, and its name is Atal Tunnel.

Atal tunnel under Rohtang Pass is an 8.8-kilometer-long tunnel.

This will reduce the distance between Manali and Leh by 46 kmsand will save on transportation costs.

Director General of BRO - Lieutenant General Rajeev Chaudhary. 

Border Haat between India and Bangladesh inaugurated at Bholaganj in Sylhet

On 6 May a newborder-haat was inaugurated between India and Bangladesh at Bholaganj under Companyganj Upazila of Sylhet.

An overview:

Bangladesh's Minister for Migrant Welfare and Overseas Employment Imran Ahmed and India's Assistant High Commissioner Neeraj Kumar Jaiswal jointly inaugurated the border-haat.

The opening of the border haat at Bholaganj on theborder between Sylhet in Bangladesh and the East Khasi Hills of Meghalaya was greeted with great enthusiasm by people on both sides of the border.

This is the fourth border haat in Sylhet division, out of which three are currently functioning. There are plans to open three more border haats in Sylhet division.

The Border Haat will open from 10 am to 4 pm on Wednesdays and Saturdays.

The Bholaganj Border Haat will have 26 stalls from India and 24 stalls from Bangladesh, where traditional items from both the countries will be sold duty free.

Thefirst border haats were inaugurated in 2011 at Kalaichar in West Garo Hills district of Meghalaya and Kurigram in Bangladesh.

World Athletics Day: 07 May

World Athletics Day is celebrated every year on 07 May to make people aware of the importance of fitness.

The theme for World Athletics Day 2023 is “Athletics for All – A New Beginning”.

World Athletics Day was for the first time celebrated in 1996.

It was launched by Primo Nebiolo, best known as the former President of the World Athletics.

World Athletics was known as International Amateur Athletic Federation till 2001 and the International Association of Athletics Federations from 2001 to 2019.

In 2019, the name was changed to World Athletics.

World Athletics was founded in 1912 in Stockholm, Sweden. It is headquartered in Monaco.

The coronation of Charles III and his wife Camilla as king and queen took place on 6 May 2023 in London.

Their coronation as king and queen of the United Kingdom and the other Commonwealth realms took place at Westminster Abbey, London.

Their coronation is the first of a British monarch in the 21st century.

The coronation took place in a ceremony which was attended by thousands of guests including foreign leaders.

Vice President Jagdeep Dhankhar represented India at the ceremonial event.

On 08 September 2022, Charles acceded to the throne upon the death of his mother, Elizabeth II.

Elizabeth II was queen from 1952 until her death in 2022. Her reign was the longest of any British monarch.

Her reign was the longest verified reign of any female head of state in history.

Elizabeth II ascended to the throne after the death of her father, King George VI.

Buckingham Palace is located in the city of Westminster. It is the administrative headquarters of the monarch of the United Kingdom.

On 6 May, INS Magar decommissioned after 36 years of glorious service.

INS Magar, the first amphibious warfare ship, was finally decommissioned after 36 years of service to the nation.

The decommissioning ceremony of the INS Magar, carrying the naval designation of Landing Ship Tank (LST), Large (L) for its ability to carry tanks and other weapons, was held at Southern Naval Command, Kochi, on 6 May.

The chief guest for the event was Chief of Army Staff General Manoj Pande.

On April 10, 2018, the ship changed its base port to Kochi from Vishakhapatnam for training sea officers, after decades of active operational deployment.

INS Magar was built by the Kolkata-based Garden Reach Shipbuilders and Engineers (GRSE) and was commissioned on July 15, 1987.

INS Magar is 120 metres long and has a beam of 17.5 metres. It was deployed for milestone operations like Operation Pawan to support Indian Peace Keeping Force in Sri Lanka.

INS Magar also served as Humanitarian Aid Disaster Response (HADR), the latest operation was the evacuation of Indians from Malé (capital of Maldives) in 2020 following the Covid pandemic.

But, the most notable operation was in the wake of the 2004 tsunami, in which the ship provided relief to more than 1,300 survivors.

A new Directorate of Minority Affairs has been formed by Nagaland Govt under Planning & Transformation Department.

Under the Union Ministry of Minority Affairs, the new directorate will manage various schemes and programs related to educational, economic, infrastructural and special needs of minorities.

The state cabinet has approved the move on 6 April.

The Directorate of Minority Affairs will deal with scholarship schemes like pre-matric, post-matric and merit-cum-means.

The new Directorate will take on additional educational programmes including the Maulana Azad National Fellowship, Naya Savera, Padho Pardesh, and Nai Udaan, which provide free coaching and interest subsidies on educational loans for abroad studies.

It will implement skill training schemes for economic development of minorities such as Pradhan Mantri Virasat Ka Samvardhan, Nai Manzil and concessional credit.

For development of infrastructure projects in all districts, the Directorate will also manage the Pradhan Mantri Jan Yikas Karyakram.

In addition, it will be tasked with providing support to institutions such as the Maulana Azad Education Foundation and the National Minorities Development and Finance Corporation.

The new Directorate would also be in charge of research, monitoring, and evaluation of development plans as well as other schemes for special needs of minorities including Nai Roshni, Hamari Dharohar, Haj management.

India, Israel sign MoU to further collaboration in high technology areas

India and Israel have signed an MoU on Industrial Research and Development Cooperation.

Aim: To collaborate in high technology areas such as Artificial Intelligence, Quantum, and semiconductors, synthetic biology, etc.,

The MoU was signed between CSIR and the DDR&D, Ministry of Defense of Israel.

It enables cooperation in the industrial R&D programs in mutually agreeable industrial technology fields through the implementation of specific projects.

HDFC Bank plans to expand its presence in semi-urban, rural locations

HDFC Bank has launched its retail banking program ‘Vishesh’ for customers in semi-urban and rural geographies wherein it plans to onboard around 1 lakh new customers.

The bank plans to add more branches and launch tailor-made products and financial solutions for this market segment.

They will look to add 675 branches in semi-urban and rural geographies in FY24.

Presently, 52% of the bank’s 7,821 branches are in rural and semi-urban locations.

Three-time Olympic medalist Tori Bowie passed away

Former 100m world champion sprinter from the United States of America, Tori Bowie passed away at 32 in Orlando, Florida.

She was crowned world champion in 2017 and won three Olympic medals at the Rio Games in 2016.

She won the Olympic Gold with the USA relay team at the Rio Olympics in 2016.

She was born and raised in Mississippi.

She played basketball before her talent on the track became apparent.

Axis Bank, India Shelter Finance partner for co-lending small loans

Axis Bank and India Shelter Finance Corporation Ltd (IndiaShelter) have signed a strategic partnership under the co-lending model to offer secured MSME loans to middle and low-income borrowers in semi-urban areas. 

Axis Bank will bring deep financial expertise, while IndiaShelter will provide loan processing technology to assess borrowers' credit profiles. 

This partnership will strengthen the mortgage segment and help the bank augment its priority sector lending portfolio. 

Govt sets foodgrain production target of 332 MT for 2023-24

Union Agriculture Minister, Narendra Singh Tomar inaugurated National Conference on Agriculture for Kharif Campaign 2023-24.

During the conference, he announced that the Ministry of Agriculture has set a target of a record 3,320 lakh tonnes (332 million tonnes) production of foodgrains for the year 2023-24.

In 2022-23, 3,235 lakh tonnes were produced.

The target for the production of Pulses is fixed at 292.5 lakh and for oilseeds at 440 lakh tonnes in 2023-24.

RBI announces 6.97% interest rate on Floating Rate Bond 2024

RBI has announced the interest rate of 6.97% on the Floating Rate Bond 2024, for the half year from May 7 to November 6, 2023.

Floating Rate Bonds are securities that do not have a fixed coupon rate.

They have a variable coupon rate which is re-set at preannounced intervals. 

The FRB bonds carry a coupon with a base rate equivalent to a weighted average yield of the last three auctions of 182-day Treasury Bills (T-Bill) plus a fixed spread decided by way of auction. 

RBI updates KYC instructions on wire transfers for banks, institutions

RBI has updated instructions in the Master Direction on KYC related to wire transfers and aligned the same with the relevant recommendation of the FATF.

The Banks and other financial institutions ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary.

Wire Transfer: It is an electronic transfer of funds via a network that is administered by banks and transfer service agencies around the world. 

India to launch its own heat index next year

India will launch its own heat index in 2024 to quantify the impact of heat on its population and generate impact-based heatwave alerts for specific locations.

IMD started issuing an experimental heat index for different parts of the country.

It includes various parameters like wind, temperature, humidity, duration of exposure, etc.

Impact of Heat waves: It has an immense impact on human health, causing cramps, exhaustion, stress, and heat stroke.

USFDA approves world's first RSV vaccine for older adults

The United States Food and Drug Administration (USFDA) has approved the world's first Respiratory Syncytial Virus (RSV) vaccine for older adults.

However, this vaccine still needs approval from the US Centers for Disease Control and Prevention, before its launch in Public.

The vaccine was approved for people aged 60 and older.

RSV is a common respiratory virus that usually causes mild, cold-like symptoms.

It can be serious, especially for infants and older adults.

UAE govt launches ‘Machines Can See 2023’ Summit

The UAE government has launched the ‘Machines Can See 2023’ Summit, taking place at the Museum of the Future in Dubai.

It is one of the International conferences in Artificial Intelligence (AI) in the whole region.

It is organized in partnership between Artificial Intelligence, Digital Economy, Remote Work Applications Office and the ‘Machines Can See’ company.

Aim: To bring together experts from around the world to discuss the future of AI and its potential. 

RBI, BIS launch global technology competition ‘G20 TechSprint’

RBI and the Bank for International Settlements (BIS) have jointly launched the fourth edition of the G20 TechSprint, a global technology competition.

Focus: On developing innovative technology solutions for cross-border payments. 

Shortlisted teams will be invited to develop their solutions over a six-week period and each team will be eligible for a stipend of eight lakh rupees.

The winners for each problem statement will receive an award of forty lakh rupees.

The National Manufacturing Innovation Survey 2021-22 released

According to a National Manufacturing Innovation Survey (NMIS) 2021-22, conducted by the Department of Science and Technology and UNIDO, Karnataka has topped the ranking of the most innovative state in manufacturing, followed by Telangana, Tamil Nadu, Maharashtra, and Haryana.

The survey also highlighted that Karnataka has the highest number of companies in manufacturing that carry out innovations.

Bottom: Northeastern states (excluding Assam), followed by Bihar.

Dubai to host the inaugural edition of the Global Chess League

Dubai (UAE) will host the inaugural edition of the Global Chess League (GCL) from June 21 to July 2, 2023.

The chess league will be held in association with Dubai Sports Council, the hosting partner of the league.

It will feature six teams with six players each, including a minimum of two female players and one icon player per team.

The six teams will compete in a round-robin format where each team will play 10 matches.

GCL is a joint venture of FIDE and Tech Mahindra. 

Indian job market to witness 22% churn In 5 Years: WEF

According to the WEF's latest Future of Jobs report, the Indian job market is estimated to witness 22% churn over the next five years, with top emerging roles coming from AI, machine learning, and data segments.

Globally, the job market churn is estimated at 23%, with 69 million new jobs expected to be created and 83 million eliminated by 2027.

Almost a quarter of jobs are expected to change in the next five years through a growth of 10.2% and a decline of 12.3%. 

British actress-author Meera Sayal receives BAFTA Fellowship

UK-based Indian-origin actor-writer Meera Syal has been conferred a BAFTA Fellowship, the highest accolade bestowed by the British Academy of Film and Television Arts (BAFTA).

Recognition: For an outstanding and exceptional contribution to film/television. 

She was honored with an MBE and then a CBE by the late Queen Elizabeth II for her contribution to drama and literature.

She is best known for television shows such as 'Goodness Gracious Me' and 'The Kumars at No. 42'.

Asia-Pacific to grow 4.6% in 2023: IMF

According to the IMF report, the growth of the Asia-Pacific region is expected to increase to 4.6% in 2023 from 3.8% in 2022.

The two largest emerging market economies (India & China) of the region are expected to contribute around half of global growth in 2023.

2023 will be challenging for the global economy, with global growth decelerating as the effects of monetary policy tightening and Russia's war in Ukraine continue to weigh on economic activity.

IFSCA inks MoU with IHub-Data, IIIT Hyderabad

International Financial Services Centres Authority (IFSCA) and IHub-Data, IIIT Hyderabad signed an MoU at the IIIT Hyderabad campus.

Aim: For cooperation and understanding between IFSCA and IHub-Data to collaborate in supporting and facilitating FinTech and TechFin entities. 

IFSCA is responsible for the development and regulation of international financial services.

IFSCA aims to develop a strong global connection and focus on the needs of the Indian economy.

Manipur CM launches facial recognition system for Inner Line Permits

Manipur CM N Biren Singh launched the Facial Recognition System (FRS) for Inner Line Permit (ILP) system and flagged off two camera-mounted mobile FRS vehicles.

It will help in the effective checking of ILP holders whose validity has expired and in better management of the system.

The system has been implemented on a trial basis.

In addition, two mobile vehicles will be stationed at different locations in Imphal East and West districts to identify ILP defaulters. 

India slips in World Press Freedom Index, ranks 161 out of 180 countries

According to the latest report released by global media watchdog Reporters Without Borders, India’s ranking in the 2023 World Press Freedom Index has slipped to 161 out of 180 countries.

In 2022, India was ranked at 150.

Norway is ranked first for the seventh consecutive year, followed by  Ireland, Denmark, Sweden, and Finland. 

Last three: North Korea (180th), China, and Vietnam

It is based on five indicators-Political, Economic, Legal Framework, Sociocultural, and Safety. 

Airtel Payments Bank rolls out face authentication for AePS

Airtel Payments Bank has collaborated with the National Payments Corporation of India to roll out Face Authentication for Aadhaar-enabled Payment System (AePS).

AePS allows customers to carry out financial and non-financial transactions at any banking point using their Aadhaar number/ virtual ID to access their Aadhaar-linked bank account.

This facility will enable customers to validate the transaction by undertaking face authentication along with the Aadhaar number.

World Press Freedom Day 2023: 3rd May

World Press Freedom Day is observed annually on May 3 to raise awareness about the importance of freedom of the press.

This year marks the 30th anniversary of World Press Freedom Day.

Theme 2023: Shaping a Future of Rights: Freedom of Expression as a Driver for all other human rights. 

This day was first proclaimed by UNESCO in 1991 in response to the increasing number of attacks on journalists around the world.

In 1993, UNGA declared May 3 as World Press Freedom Day.

India's unemployment rate at a four-month high in April 2023

According to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate of India has surged to a four-month high of 8.11% in April, compared to 7.14% in March 2023.

The rise in the unemployment rate came on the back of higher labor participation, which has risen to 41.9% from 39.7% in March.

Rural India: 20.3 million people entered the workforce and 95% of them got jobs. 

Urban India: 5.2 million people entered the workforce, but only half of them got jobs. 

Bharti Airtel to merge Sri Lanka operations with Dialog Axiata

Sri Lanka’s mobile telecommunication firm, Dialog Axiata, and India’s Bharti Airtel have signed a binding term sheet for the merger of their Sri Lankan subsidiaries.

With this merger, Bharti Airtel will get access to a large customer base in Sri Lanka.

Bharti Airtel started its operations in 2009 in Sri Lanka and has a customer base of 1 million in the country.

Dialog Axiata is a subsidiary of Malaysian Axiata.

Dialog accounts for 57% of the mobile market in Sri Lanka.

World Bank to provide 2.25 billion dollars to Bangladesh

The World Bank will provide financial aid of 2.25 billion dollars to Bangladesh for five projects. 

Accelerating transport and trade connectivity in Eastern South Asia worth $753.45 million. 

USD 500 million for Resilient Infrastructure Building Project. 

USD 500 million First Bangladesh Green and Climate Resilient Development. 

USD 250 million Sustainable Microenterprise and Resilient Transformation. 

USD 250 million Bangladesh Environmental Sustainability and Transformation. 

India surpasses Australia to become No.1 Test team in the ICC rankings

Indian Men's team has surpassed Australia to become the number one Test team in the latest rankings released by ICC on May 2, 2023.

Currently, India has topped the ranking with 121 points, while Australia ranked second with 116 points.

Earlier this year, India posted a 2-1 series win against Australia to retain the Border-Gavaskar trophy for the fourth consecutive time.

England, South Africa, and New Zealand placed third, fourth, and fifth spots respectively.

Govt appoints Justice TS Sivagnanam as Chief Justice of Calcutta High Court

The government of India has cleared the appointment of Justice T. S. Sivagnanam (Senior Most judge of the Calcutta HC) as the Chief Justice of the High Court.

Presently, he is serving as the Acting Chief Justice of the Calcutta High Court.

On 25 October 2021, he took oath as a Judge of Calcutta High Court.

He was appointed as an Additional Judge of Madras High Court and later he was appointed Permanent Judge on 29 March 2011.

एयरटेल पेमेंट्स बैंक मुथूट फाइनेंस के साथ साझेदारी में गोल्ड लोन की पेशकश करता है

Airtel Payments Bank has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app.

There will be no-processing charge on the loan.

Muthoot Finance will provide up to 75% of the pledged gold value as a loan.

The loan facility will be available at the 5 lakh banking points for Airtel Payments Bank.

Gold Loans are secured loans that can be availed to cater to a variety of needs, from personal to professional.

Instagram to launch AMBER alerts to help in finding missing children

Meta has announced that AMBER alerts will soon be rolled out to Instagram in 25 countries.

With the help of this alerts, users will get notifications of missing children in the area.

This feature was already available on Facebook and helped to find hundreds of children since it was introduced in 2015.

This was developed in partnership with the National Center for Missing & Exploited Children in US and International Centre for Missing & Exploited Children.

MS Dhoni becomes brand ambassador of Garuda Aerospace

Mahendra Singh Dhoni has invested an undisclosed amount in Garuda Aerospace, which is an Indian drone startup.

He has also appointed as a brand ambassador of this company.

Garuda Aerospace is among the four drone startups that had been selected by Swiggy for a pilot project which involve carrying out supply runs for its grocery service Instamart.

Garuda Aerospace was started in 2015.

Founder & CEO: Agnishwar Jayaprakash

Garuda Aerospace HQ: Chennai

Indian Railways awarded by the UIC International Sustainable Railway Awards

Indian Railways have been conferred with the UIC International Sustainable Railway Awards (ISRA) in the category of “Best use of Zero-Carbon Technology” for feeding Solar Energy directly to 25 KV AC Traction System.

Initiatives of Indian Railway to protect environment:-

Use of alternate fuels like CNG.

Improving water use efficiency through measures like water recycling and rain water harvesting.

World Food Safety Day 2022 : 7th June

The World Food Safety Day is observed annually on June 7 to raise awareness of the health hazards associated with unsafe food, and to highlight the significance of hygiene in daily life.

Theme 2022: ‘Safer food, better health’.

This day was marked by the United Nations General Assembly (UNGA) on December 20, 2018.

The  Food and Agriculture Organisation (FAO) and WHO jointly celebrate the observance of this day.

WHO Headquarters: Geneva, Switzerland. 

FAO HQ: Rome, Italy. 

RBI declares results of its First Global Hackathon - HARBINGER 2021

The Reserve Bank of India (RBI) had launched its first global hackathon – “HARBINGER 2021 – Innovation for Transformation”.

Theme of HARBINGER 2021: Smarter Digital Payments.

Tone Tag (brand of Naffa Innovations) has been declared the winner in two categories, first is 'Innovative, easy-to-use, non-mobile digital payment solutions' and second is 'Context-based retail payments to remove the physical act of payment'.

RBI releases provisioning norms for upper-layer NBFCs

The Reserve Bank of India (RBI) has released the provisioning guidelines for outstanding loans extended by 'NBFC-Upper Layer'.

These guidelines shall be effective from October 1, 2022.

Individual housing loans and loans to Small and Micro Enterprises (SMEs) : 0.25%

Housing loans extended at teaser rates: 2% (decrease to 0.4% after 1 year from the date on which the rates are raised.)

Advances to Commercial Real Estate- Residential Housing (CRE - RH) Sector: 0.75%. 

DAC clears proposals worth Rs 76,390 crore to boost ‘Aatmanirbhar Bharat’

Defence Acquisition Council (DAC) has accorded the Acceptance of Necessity (AoN) for Capital Acquisition Proposals of the Armed Forces amounting to Rs 76,390 crore.

This will give boost to the Indian Defence Industry and reduce foreign spending significantly.

The DAC meeting was headed by Defence Minister, Rajnath Singh.

Indian Army: Rough Terrain Fork Lift Trucks, Bridge Laying Tanks, Wheeled Armoured Fighting Vehicles.

Indian Navy: Next Generation Corvettes (NGC).

Multinational Peacekeeping 'Ex Khaan Quest 2022' begins in Mongolia

A multinational peacekeeping exercise, 'Ex Khaan Quest' 2022 has started in Mongolia.

16 countries are taking part in this exercise including India.

This exercise has been inaugurated by the President of Mongolia, Ukhnaagiin Khurelsukh.

Indian Army is represented by a contingent from the Ladakh Scouts.

Aim: Enhance interoperability, building military to military relationships, developing peace support operations and military readiness among participating nations.

Amazon, Manipur Handloom & Handicrafts Development Corporation sign MoU

Manipur Handloom & Handicrafts Development Corporation (MHHDC) has signed a pact with Amazon for providing an e-market platform for traditional handloom and handicraft items.

Both representatives, signed the MoU at the opening function of Manipur Heritage Expo, 2022.

As per the National Handloom Census Report, 2019, Manipur is a home of around 2.12 lakh handloom weavers, around 2.11 lakh looms and around two lakh handicraft artisans.

Manipur CM: N. Biren Singh

HM Amit Shah inaugurates National Tribal Research Institute in New Delhi

Home Minister, Amit Shah has inaugurated the National Tribal Research Institute (NTRI) in New Delhi as a part of 'Azadi Ka Amrit Mahotsav' celebration by the Ministry of Tribal Affairs.

NTRI will be a leading national institute for tribal concerns, issues and  executive and legislative fields.  

It will also monitor projects of Tribal Research Institutes and set up norms for improvement in the quality of research and training.

Minister of Tribal Affairs: Arjun Munda

FM Nirmala Sitharaman launches single nodal agency dashboard

Finance Minister, Nirmala Sitharaman has launched the Single Nodal Agency Dashboard during the Iconic Week Celebrations of Azadi Ka Amrit Mahotsav.

The Iconic Week of the Ministry of Finance and Ministry of Corporate Affairs was launched by PM Modi.

Aim of this dashboard: It also ensures about Centrally Sponsored Schemes fund utilization, tracking of funds, pragmatic and just-in-time release of funds to the States.

India successfully test-fired Nuclear-capable Agni-4 Ballistic Missile

India has successfully test- fired a nuclear-capable Agni-IV ballistic missile from APJ Abdul Kalam Island in Odisha.

Agni-IV can strike targets 4,000 km away.

This missile is the fourth in the Agni series of missiles which is earlier known as Agni II prime.

This missile was designed by the Defence Research and Development Organisation (DRDO) and manufactured by the Bharat Dynamics Limited.

Length of Agni IV: 20 metres

Indian Army inducts five women officers into its Artillery Regiment

The women officers, including Lt Mehak Saini, Lt Sakshi Dubey, Lt Aditi Yadav, Lt Pavitra Moudgil and Lt Akanksha, joined major artillery units of the Army after completing their training at the Officers Training Academy in Chennai.

An Overview:

The move is a significant step towards gender equality in the Indian Armed Forces and reflects the Army's commitment to promoting diversity and inclusivity.

According to military sources, out of the five women officers, three have been posted on the forward front along theLine of Actual Control (LAC) with China, while the other two have been posted at challenging positions near the border with Pakistan.

The Artillery Regiment is a major combat support branch responsible for various gun systems including the Bofors howitzer, Dhanush, M-777 howitzer and K-9 Vajra self-propelled guns.

Women officers are being posted in major artillery units of all types, where they will get adequate training and experience in handling rocket, area and surveillance, and target acquisition (SATA) systems, as well as major equipment.

The decision to induct women officers into artillery units was announced by Chief of Army Staff General Manoj Pandey in January and later approved by the government.

About Indian Army:

Established- 26 January 1950

Headquarters- New Delhi

Motto- Seva Paramo Dharma: (Sanskrit); "Service Before Self" (translation)

Colour- Gold, Red and Black

Part- Indian Armed Forces

Role- Land War

India to join international climate action in civil aviation from 2027

India will join the International Civil Aviation Organization (ICAO) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and Long-Term Aspirational Goals (LTAG) from 2027.

An Overview:

This announcement was made in the meeting of the Consultative Committee of the Parliament of the Ministry of Civil Aviation under the chairmanship of Minister Jyotiraditya Scindia.

ICAO has adopted several key ambitious targets, including a two percent annual fuel efficiency improvement by 2050, carbon neutral development, and net zero by 2050, all covered under CORSIA and LTAG.

India's Ministry of Civil Aviation stated that joining these measures from 2027 would help airlines from developing countries like India to achieve greater growth and avoid adverse financial consequences due to CORSIA.

The financial impact caused by offsetting will be borne by individual airlines based on their international operations, and CORSIA only applies to flights originating from one country to another.

International Civil Aviation Organization (ICAO):

It is a specialised agency of the United Nations and its primary function is to coordinate the principles and techniques of international air navigation.

The organisation is also responsible for promoting the planning and development of international air transport.

ICAO's mission is to ensure the safe and orderly development of the international aviation industry.

The organisation works with its member states to develop and implement policies and regulations related to air navigation and air transport.

ICAO also provides technical assistance and training to help its member states meet international aviation standards and regulations.

Established - 7 December 1944

Headquarters -Montreal, Canada

Carbon Offsetting and Mitigation Scheme for International Aviation (CORSIA):

It is a global plan developed by the International Civil Aviation Organization (ICAO) to reduce CO2 emissions from international flights.

It aims to achieve carbon-neutral growth for international flights by offsetting any increase in emissions through the purchase of carbon credits from eligible projects.

The plan has a phased implementation and includes all international flights, except to least developed countries, small island developing states and landlocked developing countries.

Azerbaijan Grand Prix 2023, won by Sergio Perez

Sergio Pérez won the Azerbaijan Grand Prix, the fourth round of the 2023 Formula 1 World Championship held in Baku.

An Overview:

Pérez won the race beating Red Bull teammate Max Verstappen.

The Azerbaijan Grand Prix is a Formula One race held annually since 2017 at the Baku City Circuit in the capital city of Azerbaijan.

Azerbaijan is a country located in both Asia and Europe, bordered by the Caspian Sea and the Caucasus Mountains.

The country's capital is Baku, known for its mediaeval walled Inner City.

The Palace of the Shirvanshahs is located within the inner city of Baku. It was built in the 15th century as a royal residence.

About Azerbaijan:

Capital - Baku

Currency - Azerbaijani manat

Official language - Azerbaijani

Government -Republic, Unitary State, Presidential System, Constitutional Republic, Semi-Presidential System

Continent - Europe, Asia

President -Ilham Aliyev

Vice President - Mehriban Aliyeva

Prime Minister -Ali Asadov

National Assembly Speaker -Sahiba Gafarova

Satwiksairaj and Chirag Shetty won men's doubles at the Badminton Asia Championships gold medal

On 30 April, Satwiksairaj Rankireddy and Chirag Shetty created history by becoming the first Indian men's doubles pair to win a gold medal at the Badminton Asia Championships.

An Overview:

Satwiksairaj Rankireddy and Chirag Shetty defeated Malaysian pair of Ong Yew Sin and Teo Ee Yee in a three-game match.

This historic achievement is only the second gold medal India has won at theBadminton Asia Championships, the first gold medal being won by Dinesh Khanna in 1965 in the men's singles category.

He won the Commonwealth Games gold medal in 2022 and was part of the historic Thomas Cup winning team.

Badminton Association of India (BAI):

It serves as the governing body for badminton in India.

BAI is registered as an association under the Societies Act.

Since 1936, BAI has been responsible for organising and hosting national level badminton tournaments in India.

Establishment -1934

Headquarters - New Delhi

President -Himanta Biswa Sarma

Badminton Asia Championship:

It is an annual badminton tournament organised by the governing body Badminton Asia. 

The tournament has been held since 1962 and has been an annual event since 1991.

National Manufacturing Innovation Survey (NMIS) 2021-22

Dr. S. Chandrasekhar, Secretary, Department of Science and Technology, released the “National Manufacturing Innovation Survey (NMIS) 2021-22: Summary for Policymakers" on April 27, 2023.

Major Findings of the report:

25.01% of the 8,074 firms surveyed were considered innovative.

The 25% of firms that reported innovation in the survey saw 83% increase in turnover and 80% opening up new opportunities in the market.

Only 15% of micro firms are innovative while it is 56% in large firms.

Over 45% of firms reported that lack of funding within the firm or group was the most common constraint, followed by high innovation costs (40.30%) and lack of finance from external sources (39.52%).

The most important constraints were thelow demand for innovations in the market (71.23%).

What is the NMIS survey?

It is a joint study by the Department of Science and Technology (DST) and the United Nations Industrial Development Organization (UNIDO) to evaluate the innovation performance of manufacturing firms in India.

The study is a follow-up to DST's first National Innovation Survey conducted in 2011.

The survey had two distinct components: the firm-level survey and the Sectoral Systems of Innovation (SSI) survey.

The study was not designed to assess the effectiveness of specific policies individually or collectively.

PM Modi launches 91 FM Transmitters of capacity of 100 Watt

Prime Minister Narendra Modi on 28th April virtually commissioned 91 FM Transmitters of capacity of 100 Watt at Diphu in Karbi Anglong district of Assam.

An overview:

Priority has been given to Left Wing Extremism affected areas, aspirational districts and border areas of the country for setting up new transmitters.

The transmitter will act as a vehicle to convey information about programs and policies of the government as well as entertainment content to every nook and corner of the country.

This will strengthen cultural connectivity as well as intellectual bonding and is expected to benefit the underprivileged who may not have had access to this facility earlier.

It will promote digital entrepreneurship in villages.

It can be linked to the strength of the country and the collective power of duty among the countrymen.

About All India Radio:

All India Radio, formally known as Akashvani since 1957, is India's national public radio broadcaster and an arm of Prasar Bharati.

It was established in 1936.

It is run by the Ministry of Information and Broadcasting.

Its slogan is 'Bahujan Hitay: Bahujan Sukhay', which translates to 'serving, educating and entertaining the masses'.

Tiger at Kalesar National Park in Yamunanagar caught on camera

A tiger has been spotted in a camera trap at Kalesar National Park in Yamunanagar district of Haryana. 

An overview:

Recently tiger sightings in the Kalesar area have happened after a gap of 110 years.

Kalesar Park is adjacent to the Simbalbara National Park in the Sirmour district of Himachal Pradesh.

Both these parks are connected to Rajaji National Park through dense forest. It appears that tigers are using this corridor for roaming.

About Kalesar National Park:

It is located in the Yamunanagar district of Haryana.

It is situated at the foothills of the Shivalik ranges of the Himalayas.

It was declared a National Park on 8 December 2003.

It shares boundary with three States viz., Himachal Pradesh, Uttranchal & U.P.

It was named after a temple (known as Kalesar Mahadev temple) located inside the premise of the park.

In earlier times, rulers under the Mughal and British Raj used the park as hunting grounds.

The park is also famous for its Dak bungalows – the administrative architectural bungalows built in colonial times.

Flora - Most of the forest is covered by tall and dense sal trees. Other trees that are found in the forest are Semul, Bahera, Amaltas, Shisham, Khair, Sain, Chhal and Jhingan.

Fauna: It houses many animals like leopards, Ghoral, Barking deer, Sambar, Chital, Python, King Cobra, Monitor lizard etc.

G7 should adopt ‘risk-based’ AI regulation

Digital ministers from the Group of Seven advanced nations (G7) agreed on 30 April that they should adopt "risk-based" regulation on artificial intelligence.

An overview:

European lawmakers hurry to introduce an AI Act to enforce rules on emerging tools such as ChatGPT.

G7 ministers said in a joint statement issued at a two-day meeting in Japan that such regulation should "preserve an open and enabling environment" for the development of AI technologies and be based on democratic values.

The ministers recognized that the policy tools to achieve the common vision and goal of trustworthy AI among G7 members may differ.

The agreement sets a milestone for how major countries regulate AI amid privacy concerns and security risks.

Governments in particular have taken note of the popularity of generative AI tools such as ChatGPT.

A chatbot (ChatGPT) developed by Microsoft Corp-backed OpenAI has become the fastest-growing app in history since its launch in November.

What is ChatGPT?

It is a natural language processing tool powered by Artificial Intelligence (AI) technology that allows chatbots to do much more than just have human-like conversations.

This language model can answer questions and assist with tasks such as writing emails, essays and code.

ChatGPT was created by OpenAI, an AI and research company.

A chatbot (ChatGPT) developed by Microsoft Corp-backed OpenAI has become the fastest-growing app in history since its launch in November.

What is Artificial Intelligence?

It is a broad branch of computer science that deals with building smart machines capable of performing tasks that would normally require human intelligence.

About G7:

The G7 is a group of seven major industrialized countries, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

The G7 holds annual meetings to discuss various global issues, but these meetings are usually held in different locations each year.

The 48th G7 summit was hosted by Germany in 2022.

Rajasthan Housing Board got National Award for Real Estate

On April 26, 2023, the National Real Estate Award was presented to the Rajasthan Housing Board by the Central Government Agency National Real Estate Development Council (NAREDCO).

An overview:

National Real Estate Development Council National President Rajan Bandelkar and RERA Delhi Chairman Anand Kumarpresented the award to Rajasthan Housing Commissioner Pawan Arora at a national level function.

The Rajasthan Housing Board was honored with the award for registering the maximum number of housing projects in the country under RERA, selling the maximum number of houses and doing excellent work in the field of real estate.

Earlier in the function, Rajasthan Housing Commissioner was specially invited for a panel discussion on the topic 'Real Estate in the Era of RERA'. He was also honored on this platform.

Rajasthan Housing Board has become the biggest organization to register 101 project RERA numbers.

Under the leadership of Housing Commissioner Pawan Arora, the board has received a total of 15 awards in the last four years.

These include World Book of Records in house sales, Scotch Award-2021, Award of Excellence, Honor by National Real Estate Development Council, National Housing Award, I.B.C. and prestigious awards like 'Star of Governance-Gold Award'.

Defence Minister Rajnath Singh to visit Maldives

Defence Minister Rajnath Singh is set to embark on athree-day official visit to Maldives on 30th April. 

An overview:

During the visit, Rajnath Singh will hold bilateral talkswith Maldivian Defense Minister Ms. Maria Ahmed Didi and Foreign Minister Abdulla Shahid.

All aspects of defense relations between the two countries will be reviewed during the consultations.

Rajnath Singh will also meet Maldivian President Ibrahim Mohamed Solih.

In line with India's commitment to capacity building of friendly countries and partners in the region, Rajnath Singh will gift a Fast Patrol Vessel ship and a landing craft to the Maldivian National Defense Forces.

India and Maldives are working together to effectively address common challenges including maritime security, terrorism, radicalism, piracy, smuggling, organized crime and natural disasters.

India's vision of SAGAR (Security and Growth for All in the Region) along with its ‘Neighbourhood First’ policy as well as Maldives’ ‘India First’ policy seek to work together to jointly develop the capabilities within the Indian Ocean Region.

About Maldives:

It is also called Maldives Islands, an independent island country in the north-central Indian Ocean.

It extends more than 510 miles (820 km) from north to south and 80 miles (130 km) from east to west.

Basis of economy -fisheries, tourism

Industries - handicraft or cottage including the making of coir (coconut-husk fibre) and coir products, fish canning, and boatbuilding.

Capital -Male

President -Ibrahim Mohamed Solih

Official Language - Dhivehi (Maldivian)

Official Religion - Islam

Currency -Rufiyaa

PM Modi's 100th episode of 'Mann Ki Baat' broadcast live at UN Headquarters

The 100th episode of Prime Minister Narendra Modi's radio program 'Mann Ki Baat' was broadcast live at the United Nations Headquarters here late on April 29, local time.

An overview:

India's Permanent Representative and Ambassador to the United Nations Ruchira Kambojsaid that Mann Ki Baat was aired at the Trusteeship Council of the United Nations Headquarters in New York.

Indian missions in various countries including UK, China, South Africa, Chile, Morocco, Mexico, Congo, Iraq and Indonesia also made special arrangements to listen to the 100th episode of 'Mann Ki Baat'.

External Affairs Minister S Jaishankar, who is on an official visit to Guyana, Panama, Colombia and the Dominican Republic, also attended the special event organized by the Indian community.

'Mann Ki Baat' program:

The program 'Mann Ki Baat' started on 3 October 2014 and is broadcast on thelast Sunday of every month.

It inspires millions of people to participate in India's development journey.

On 30th April it completed its 100th episode.

The episodes aired between 2014 and 2019 were more general and motivational in nature, with the latter episodes discussing a lot of government policies and initiatives.

India, Russia to explore possibility of accepting RuPay and Mir cards

India and Russia will explore the possibility of accepting RuPay and Mir cards in each other's country for hassle-free payments amid sanctions imposed by the West on Moscow.

An overview:

In the recent meeting of the High Level Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), it was discussed and agreed to explore the possibility of allowing acceptance of these cards.

The mutual acceptance of RuPay (India) and Mir cards (Russia) will help Indian and Russian citizens to make hassle-free payments in Indian rupees and Russian ruble in their respective countries

The meeting was co-chaired by External Affairs Minister S Jaishankar and Russia Deputy Prime Minister Denis Manturov.

They agreed to explore the possibility of interaction with the Unified Payments Interface (UPI) of National Payment Corporation of India and the Faster Payments System (FPS) of the Bank of Russia.

The two countries agreed to adopt the Russian Financial Messaging System, the Service Bureau of the Bank of Russia's Financial Messaging System, for cross-border payments.

What is Mir?

Mir is a payment system in Russia.

It was launched in 2017.

The Central Bank of Russia has established the function of this payment option.

The Russian national card payment system operatesit.

Sberbank was the first Russian bank to issue payment cards under the Mir brand.