National Level Pollution Response Exercise ‘NATPOLREX-VIII’ of Indian Coast Guard begins
The Indian Coast Guard (ICG) kicked off the 8th edition of the two-day National Level Pollution Response Exercise, ‘NATPOLREX-VIII’, on April 19, 2022, off Mormugao harbour, Goa. The marine spill preparedness exercise was inaugurated by Defence Secretary Dr Ajay Kumar. The exercise is being attended by more than 85 participants from 50 agencies, including 29 observers from 22 friendly foreign countries & International Organisations and two Coast Guard ships from Sri Lanka and Bangladesh.
The objective of the Exercise:
- The objective of NATPOLREX-VIII is to enhance the preparedness and response capability of all the stakeholders in combating marine spills.
- It aims at validating the procedures and guidelines as contained in the National Oil Spill Disaster Contingency Plan (NOSDCP) at the national and regional levels under the aegis of SACEP MoU to which India is a member state.
- During the exercise, various components of NOSDCP were invoked to validate and improve the contingency plans and evaluate the preparedness of the resource agencies as well as stakeholders to meet any marine spill disaster at sea.
Nation’s first portable solar rooftop system unveiled in Gandhinagar
The first portable solar rooftop system in India has been inaugurated at Swaminarayan Akshardham temple complex in Gandhinagar, Gujarat. The 10 Photovoltaic PV Port system has been manufactured by New Delhi-based Servotech Power Systems Ltd and designed by the German development agency Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ). The systems have been installed under the initiative of the Union Ministry of New and Renewable Energy to develop renewable energy cities across India.
The PV Ports have been manufactured by New Delhi-based Servotech Power Systems Ltd (SPSL), a leading maker of high-end solar products like LEDs, oxygen concentrators and EV charging equipment under the Make in India project, it added. The PV Port system is highly cost-effective, requires low maintenance, has a long shelf life of 25-30 years, can be easily installed by a single person and is ideal for the Indian climate.
IMF cuts India’s GDP growth forecast for FY23 to 8.2%
The International Monetary Fund (IMF) has slashed the gross domestic product (GDP) growth forecast for India in FY23 to 8.2 per cent in its latest World Economic Outlook report, released on April 19, 2022. Earlier in January report, this was estimated at 9 per cent. IMF has also cut India’s FY24 GDP growth forecast to 6.9 per cent. Earlier this was 7.1 per cent. In the case of the global economy, IMF has cut the growth forecast for the calendar year 2022 to 3.6 per cent from 4.4 per cent.
FY23 forecasts by various institutions (in %)
| Agency | Now | Earlier |
| World Bank | 8 | 8.7 |
| IMF | 8.2 | 9 |
| Fitch | 8.5 | 10.3 |
| India Ratings | 7-7.2 | 7.6 |
| Morgan Stanley | 7.9 | 8.4 |
| Citigroup | 8 | 8.3 |
| ICRA Ltd | 7.2 | 8 |
| RBI | 7.2 | 7.8 |
Supreme Court reconstitutes expert committee for Delhi-Dehradun Corridor project
The Supreme Court of India has reconstituted the expert committee to monitor the compensatory afforestation and other mitigation measures for the Delhi-Dehradun Economic Corridor Expressway project. The independent 12-member expert committee was formed by the National Green Tribunal (NGT) to be headed by Sukhbir Singh Sandhu Chief Secretary, Uttarakhand.
About the committee:
- The Director-General of Forests, Ministry of Environment, Forests and Climate Change will be the Chairperson of the reconstituted Committee.
- Chandra Prakash Goyal is currently appointed as the Director-General of Forests and Special Secretary to the Government of India, Ministry of Environment, Forest and Climate Change.
- Apart from the new Chairperson, the Supreme Court has also included Anil Prakash Joshi (founder of Himalayan Environmental Studies and Conservation Organisation) and Vijay Dhamsana (environmentalist) as additional members in the committee.
Nexo launched world’s 1st crypto-backed payment card “Nexo Card”
London-based Cryptocurrency lender, Nexo has joined hands with global payments company Mastercard to launch the world’s first “crypto-backed” payment card. Electronic money firm DiPocket is Nexo’s card issuer. The card requires no minimum repayments, monthly, or inactivity fees. There are no FX fees for up to 20,000 euros per month. Interest remains at 0% for customers who maintain a loan-to-value ratio of 20% or below.
This move by crypto and incumbent financial networks forces digital assets to become more mainstream. Initially, The card will be available in selected European countries. There are no restrictions on how much a customer can spend or withdraw from the open credit line and interest is only paid on the amount of credit actually used.
Important takeaways for all competitive exams:
- Mastercard Founded: 16 December 1966, United States;
- Mastercard Headquarters: Purchase, Harrison, New York, United States;
- Mastercard CEO: Michael Miebach;
- Mastercard Executive Chairman: Ajay Banga.
IndusInd Bank won global ‘Celent Model Bank’ Award for its EPH initiative
IndusInd Bank has been awarded the global ‘Celent Model Bank’ award under the category of ‘Payments System Transformation’ for building a best-in-class Enterprise Payments Hub (EPH). The award recognises the Bank’s outstanding journey in creating a cloud-based central payments hub. The award is given by Celent, leading research and advisory firm focused on technology for financial institutions globally. This payment hub is capable of seamlessly processing high transaction loads originating across all forms of payment instructions, and across all originating client touchpoints.
Important takeaways for all competitive exams:
- IndusInd Bank Founded: 1994;
- IndusInd Bank Headquarters: Mumbai, Maharashtra;
- IndusInd Bank MD & CEO: Sumant Kathpalia;
- IndusInd Bank Tagline: We Make You Feel Richer.
Indian GM D Gukesh won 48th La Roda International Open chess tournament title
Indian Grandmaster Dommaraju Gukesh has clinched the 48th La Roda International Open chess tournament title in Castile-La Mancha, Spain. He defeated Israel’s Victor Mikhalevski in the final round. GM Haik M. Martirosyan from Armenia placed second with 7.5 points. Indian GM Rameshbabu Praggnanandhaa finished third followed by Raunak Sadhwani (India), Manuel Lopez Martinez Josep (Spain) and Ramon Martinez (Venezuela).
World Bank cuts global economy growth forecast to 3.2%
The World Bank has lowered the global growth forecast for 2022 to 3.2%. Earlier this was estimated at 4.1%. The downward revision is due to the impact of Russia’s invasion of Ukraine on the world economy. The reason for lowering the projection is that people are facing reduced commercial activity and trade, and the debt crisis and currency depreciations have placed a heavy burden on the poor. The world is also facing reversals in development in education, health and gender equality.
Important takeaways for all competitive exams:
- World Bank Founded: July 1944, United States;
- World Bank Headquarters: Washington DC, USA;
- World Bank President: David Robert Malpass;
- World Bank Member Countries: 189 (including India).
Ayushman Bharat-Health & Wellness Centre Scheme marked 4th year anniversary
The Union Health minister Mansukh Mandaviya, organised a week-long celebration under the “Azadi Ka Amrit Mahotsav”, marking the fourth anniversary of Ayushman Bharat- Health and Wellness Centres (AB-HWCs) from April 16 to April 22. The inauguration of the first AB-HWC on 14th April 2018, at Jangla, a serene village in the Bijapur District of Chhattisgarh.
Union Health Minister addresses at 4th-anniversary celebrations:
Mansukh Mandaviya, the union Health minister addressed the fourth-anniversary celebration of AB-HWCs in a meeting organised virtually, which saw the participation of more than 1 Lakh AB-HWCs, State Health ministers, senior officials of all the States and Union Territories, healthcare workers from various hospitals and development partners.
Key Points:-
- On April 16, 2022, a record of more than 3 lakh teleconsultations were done under the eSanjeevani platform of AB-HWCs. This is the highest number of telecommunications done on a single day, surpassing its earlier record of 1.8 Lakh teleconsultations per day.
- On the second day, i.e. On April 17, 2022, Yoga sessions were organised in all the AB-HWCs to highlight the integration of health and wellness in service provision at AB-HWCs.
- The third day begins with organising ‘Block Health Melas’ from 18 April to 22 April, in at least one block in each district of the State/Union Territories (UTs). Each Block Health Mela would be for one day and each block in the State/UTs is to be covered.
- The Block Health Melas provide screening for early diagnosis of Tuberculosis (TB), Hypertension, diabetes, basic health care services with drugs and diagnostics along with teleconsultation with relevant health specialists.
- The Government of India is committed to establishing 1,50,000 AB-HWCs by December 2022. Of which 1,17,400 HWCs have been already established, also more than 1 Lakh Centres have registered for the e-Sanjeevani HWCs portal.
Wipro named Satya Easwaran as country head of India
IT major Wipro has announced the appointment of Satya Easwaran as the Country Head for India. He will be in charge of strengthening Wipro’s business in India across segments through strategic consulting, transformation and modernisation engagements. He will help clients leverage Wipro’s capabilities and investments in cloud, digital, engineering R&D, data/analytics and cybersecurity. “India is a strategic market for Wipro.
Experience of Satya Easwaran:
Satya’s rich international experience in delivering high-value consulting services, and his track record of building successful sales and leadership teams will help strengthen Wipro’s positioning as a trusted partner for Indian clients. Prior to joining Wipro, Easwaran was the head of business consulting and telecom, Media & technology sector leader at KPMG India.
Important takeaways for all competitive exams:
- Wipro CEO: Thierry Delaporte;
- Wipro Founder: M.H. Hasham Premji;
- Wipro Founded: 29 December 1945, India;
- Wipro Owner: Azim Premji;
- Wipro Headquarters: Bengaluru.
PM Modi laid the foundation stone for Who Global Center For Traditional Medicines
The World Health Organization launched its Global Centre for Traditional Medicine at a site in Gujarat, aimed at unlocking its potential by blending ancient practices with modern science. During the event, the WHO chief Tedros Ghebreyesus spoke in Hindi which surprised all. The WHO chief Tedros Ghebreyesus and Prime Minister of Mauritius Shri Pravind Kumar Jugnauth were present at the event.
Traditional medicines products abound globally and the centre will go a long way in bringing the promise of traditional medicine to fruition. The New Centre will focus on data, innovation and sustainability and will optimize the use of traditional medicine. He noted that the WHO global centre for traditional medicine is a truly global project. Through this centre, India will be able to take its knowledge of traditional medicine to the world and similarly, the world will come to India.
Cyrus S. Poonawalla tops Hurun Global Healthcare Rich List 2022
Chairman and Managing Director of Serum Institute of India(SII), Dr Cyrus S. Poonawalla has topped the Hurun Global Healthcare Rich List 2022 and became the richest billionaire in the healthcare sector 2022. He has topped the list with a new value of USD 26 billion (up 41%). Cyrus Poonawalla is followed by Thomas Frist Jr & Family of HCA Healthcare, Li Xiting and Xu Hang of Mindray at the 2nd position with a net value of USD 19 billion. Dilip Shanghvi & Family, of the Sun Pharmaceuticals, is at the 5th position with a net worth of USD 18 billion.
Country-Wise:
- China (34) has the most healthcare industry billionaires, followed by the United States of America (16), Switzerland (15), Germany (11), and India (9).
SBI Raises USD 500 Million Via IFSC Gift City Branch
State Bank of India (SBI), India’s largest commercial bank, has raised USD 500 million through a three-year syndicated loan facility, via its International Financial Services Centre (IFSC) Gujarat International Finance Tec (GIFT) City branch. The facility is worth USD 400 million, with a USD 100 million greenshoe option. SBI, on the other hand, did not provide pricing information. The SBI’s Gift City branch has raised its first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan.
Key Points:
- With this, SBI has taken another major step in promoting IFSC Gift City as an international financial hub, with its Gift City branch becoming the largest in the IFSC.
- The substantial footprint SBI has established in offshore financial markets has facilitated the successful execution of syndicated loans at such fine pricing.
- The joint lenders of the offering are MUFG, Bank of America, and JP Morgan, with First Abu Dhabi Bank serving as the facility agent.
Important takeaways for all competitive exams:
- SBI Chairman: Dinesh Kumar Khara;
- SBI Establishment: 1955;
- SBI Headquarters: Mumbai, Maharashtra.
