05th-06th May, 2024

1. India’s Spices Board has recently made Ethylene Oxide (ETO) testing mandatory for all spice shipments being exported to Hong Kong and Singapore.
2. Invest India has underscored the significant growth trajectory of the Indian logistics sector, projecting it to expand from USD 250 billion in 2021 to a remarkable USD 380 billion by 2025.
3. The Union government has become the sole authority for issuing manufacturing licences for new drugs meant for exports, withdrawing the power from state governments.
4. The Indian National Space Promotion and Authorization Centre (IN-SPACe) recently introduced new Norms, Guidelines, and Procedures (NGP) aimed at enhancing the implementation of the Indian Space Policy (ISP) 2023
5. United Way of Bengaluru (an NGO) in partnership with the Bangalore Water Supply and Sewerage Board (BWSSB) and Bruhat Bengaluru Mahanagara Palike (BBMP),has embarked on an ambitious initiative to restore groundwater in the Bengaluru city by constructing 10,000 percolation wells by 2026.
6. China is set to launch the Chang’e-6 lunar probe on a round trip to the Moon.
7. India and the Netherlands held the 12th round of foreign office consultations (FOC) in The Hague (Netherlands), agreeing to further strengthen bilateral ties by focusing on new and emerging technologies like semiconductors and green hydrogen.
8. During the 57th Annual Meeting of Asian Development Bank (ADB) in Georgia, USA, the Asian Development Bank (ADB) and donors have agreed to replenish USD 5 billion for the Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8.
9. The Securities and Exchange Board of India (SEBI) has introduced a framework for the administration and supervision of Research Analysts (RAs) and Investment Advisers (IAs) through recognized stock exchanges.
10. According to the Reserve Bank of India (RBI) data on “Sectoral Deployment of Bank Credit,” the outstanding credit to the housing sector has risen significantly in the last two fiscal years.
11. Indian Farmers Fertiliser Cooperative Limited (IFFCO) has received approval under the Fertiliser Control Order (FCO) to introduce its IFFCO Nano Zinc (Liquid) and IFFCO Nano Copper (Liquid) fertilisers.
12. In the latest edition of the World Press Freedom Index (WPFI) published annually by Reporters Without Borders (RSF),a France based international NGO
13. Flying Wedge Defence and Aerospace Technologies Private Limited, based in Bengaluru, Karnataka, has unveiled the FWD-200B, India’s inaugural indigenous military-grade bomber drone.
14. HyImpulse, a German company, achieved a significant milestone by successfully tested a rocket powered by candle wax. Notably, it marked the first instance of a candle wax-powered rocket capable of carrying commercial satellites.
15. May 3: International Leopard Dy 2024
16. May 4: International Firefighter’s Day
17. The president of the All-India Chess Federation, Nitin Narang, announced a Rs 65 crore budget to bolster the ‘Bharatiya Chess’ ecosystem.
18. : Fship Logistics, a technology-driven logistics platform, has signed an MoU with India Post to enhance last-mile delivery services for e-commerce products.
19. The Appointment Committee of the Cabinet has approved the appointment of Sanjaya Kumar Mishra, former Chief Justice of the Jharkhand High Court, as the President of the Goods and Services Tax Appellate Tribunal (GSTAT) for a term of four years.
20. Vice Admiral Krishna Swaminathan assumed office as the Vice Chief of Naval Staff on May 1, 2024, succeeding Admiral Dinesh K Tripathi
21. Dr. Subhransu Sekhar Acharya took charge as Chairman-cum-Managing Director (CMD) of the National Small Industries Corporation Limited (NSIC).
22. Dr. Mallika Nadda has been appointed as Chairperson of the Special Olympics Asia-Pacific Advisory Council (APAC) for a three-year term, effective from May 1, 2024, to March 31, 2027.
23. Sanjeev Nautiyal has been appointed as the Managing Director (MD) & Chief Executive Officer (CEO) of Ujjivan Small Finance Bank Limited (Ujjivan SFB) for a 3-year term starting from July 1, 2024.

National News

1. Spices Board mandates Ethylene Oxide testing for spice shipments to Singapore, Hong Kong
   • What: India’s Spices Board has recently made Ethylene Oxide (ETO) testing mandatory for all spice shipments being exported to Hong Kong and Singapore.
   • Why: The move comes after Hong Kong and Singapore halted sales of certain Indian spice products due to ETO contamination.
     • ETO is a flammable, colorless gas at room temperature.
     • It is used as a disinfectant and fumigant due to its ability to kill bacteria, viruses, and other pathogens. However, its use in food products is regulated because it has been classified as a carcinogen, meaning it has the potential to cause cancer.

   • Tell me more:
     • The maximum residue limit (MRL) for ETO in spices as per the Singapore Food Agency is 50 ppm, whereas Hong Kong has zero tolerance.
     • Mandatory testing of spices for ETO is already in place for exports to the EU and the UK
     • India exported spices worth $3.95 billion in 2022-23, per the Spices Board.
   • Background
     • Last month, Hong Kong recalled three spice blends made by India’s MDH and a spice mix for a fish curry made by Everest. Later, Singapore ordered a recall of the same Everest mix, stating that it contained high levels of ETO, which could cause cancer in humans.
     • Following this, other countries, such as the US and Australia, have also raised questions about the quality of some Indian spices and are determining whether further action needs to be taken.
       Source: The Hindu Business Line

2. India to be among top 25 countries by 2030 in Logistics Performance Index rank: Invest India
   • What: Invest India has underscored the significant growth trajectory of the Indian logistics sector, projecting it to expand from USD 250 billion in 2021 to a remarkable USD 380 billion by 2025.
   • Moreover, in a bid to enhance economic competitiveness and efficiency, India has set ambitious goals to reduce the logistics cost from its current 13%-14% of GDP to a more sustainable range of 8%-10% by the year 2030.

3. Centre takes away state powers for issuing NOC for export of drugs
   • What: The Union government has become the sole authority for issuing manufacturing licences for new drugs meant for exports, withdrawing the power from state governments.
   • Why: This step has been taken amid heightened global scrutiny of Indian made drugs.
   • Tell me more:
     • The sole licensing authority from now on will be the Central Drugs Standard Control Organisation (CDSCO), India’s apex drug regulatory body, which functions under Union government.
     • Accordingly, power delegated to state/UT Licensing authority stands withdrawn with effect from 15 May 2024 and such NOCs shall be granted by the Head of respective CDSCO Zonal office with effect from 15 May through online mode (SUGAM portal).
       • SUGAM is an online portal of CDSCO. It allows users to file applications for various services related to the license of drugs and medical devices in India.

     • Further all state/UT drugs Controllers are required to handover all NOC’s issued from 20 August 2018 to 14 May 2024 to respective Zonal offices of CDSCO.
     • Since 2018, export NOC and manufacturing license were granted by State Licensing Authority for manufacturing unapproved/ banned/new drugs solely for export purposes.
       Source: Live Mint

4. IN-SPACe released Norms, guidelines and procedures to implement Indian Space Policy 2023
   • What: The Indian National Space Promotion and Authorization Centre (IN-SPACe) recently introduced new Norms, Guidelines, and Procedures (NGP) aimed at enhancing the implementation of the Indian Space Policy (ISP) 2023
   • Why: The NGP would complement government endeavour in providing a predictable regulatory regime, transparency and ease of doing business in the Indian space sector.
   • Tell me more:
     • ISP seeks to institutionalize private sector participation in the space sector with the Indian Space Research Organization (ISRO), which will focus on research and development of advanced space technologies, whereas IN-SPACe will focus on the development of space
       ecosystems in the country.
     • NGP complements government endeavors in providing a predictable regulatory regime, transparency and ease of doing business in the Indian space sector.
     • Provisions for authorisation from IN-SPACe
       • Jurisdiction: Any Entity carrying out Space Activities to or from Indian Territory or within the jurisdiction of India including the area to the limit of its exclusive economic zone needs Authorization. Only an Indian Entity can apply for seeking Authorization.
         • Non-Indian Entities desiring to conduct SpaceActivity in India can apply for authorization through an Indian Entity.
       • Activities: Any Space Activity, which shall include, interalia, launch, operation, guidance and/or re-entry of any Space Object shall need Authorization.
       • Process of registration: makes it mandatory for operators to provide detailed information about their space objects for registration to India’s national registry
         Source: The Hindu

State News

1. United Way Spearheads Groundwater Restoration in Bengaluru
   • What: United Way of Bengaluru (an NGO) in partnership with the Bangalore Water Supply and Sewerage Board (BWSSB) and Bruhat Bengaluru Mahanagara Palike (BBMP),has embarked on an ambitious initiative to restore groundwater in the Bengaluru city by constructing 10,000 percolation wells by 2026.
   • About Percolating Wells
     • They are earthen dams padded with concrete rings inside and filled with gravel.
     • Mechanism: Rain falls into percolation well, water leaks into soil in multiple layers and it goes down to the ground and natural aquifers get activated.
       Source: The Hindu

International News

1. China set to launch Chang’e-6 lunar probe, carry Pakistan’s lone Moon mission
   • What: China is set to launch the Chang’e-6 lunar probe on a round trip to the Moon.
   • Why: China’s second sample return mission is aiming to collect soil from the far side of the Moon, something that has never been done by humans before. The mission intends to bring back 2 kilograms of lunar soil for study and analysis.
   • Tell me more:
     • Chang’e-6 is a robotic lunar exploration mission conducted by the China National Space Administration (CNSA).
     • The mission follows the success of the Chang’e-5 mission, which collected 1,731 grams of lunar material from the near side of the moon in 2020.
     • Unlike Chang’e-5, which focused on the near side, Chang’e-6 will explore the far side, providing valuable scientific data.
     • The mission also included the ICUBE-Q orbiter, a cubesat developed by Pakistan.
       • CubeSats are miniature satellites typically characterized by their small size and standardized design.
         Source: Chinese Government

   
   
   
   
2. 12th India-Netherlands Foreign Office Consultations were held in The Hague, Netherlands
   • What: India and the Netherlands held the 12th round of foreign office consultations (FOC) in The Hague (Netherlands), agreeing to further strengthen bilateral ties by focusing on new and emerging technologies like semiconductors and green hydrogen.
   • Last year, the Netherlands was invited as a guest country during India’s G20 Presidency and Prime Minister Mark Rutte attended the G20 Summit in New Delhi in September 2023.
     Source: DD News

Banking and Economy

1. Asian Development Fund to be replenished with $5 billion
   • What: During the 57th Annual Meeting of Asian Development Bank (ADB) in Georgia, USA, the Asian Development Bank (ADB) and donors have agreed to replenish USD 5 billion for the Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8.
     • Donors refer to the countries or institutions that provide financial contributions to these funds.
   • Tell me more:
     • Asian Development Fund (ADF)
       • ADF is ADB’s largest source of grants for operations in its poorest and most vulnerable developing member countries and is replenished every four years.
       • ADF 14, marking the 13th replenishment since the fund’s establishment, will support grant operations during 2025 -2028.
       • The current replenishment is about 22 per cent higher than the $4.1 billion available in ADF 13, and will provide eligible ADB members with the largest-ever volume of ADF grants.
       • ADF, established in 1974, is the largest source of grants for ADB operations in the poorest and most vulnerable developing member countries.
       • India is also a donor of ADF 14
     • Technical Assistance Special Fund (TASF)
       • The TASF 8 will provide grants that help prepare projects, build capacity, and provide technical or policy advice.
         Source: Business Standard
       
       

   
   
2. SEBI Introduces Framework for Supervision of Research Analysts and Investment Advisers
   • What: The Securities and Exchange Board of India (SEBI) has introduced a framework for the administration and supervision of Research Analysts (RAs) and Investment Advisers (IAs) through recognized stock exchanges.
     • Research Analysts (RAs) analyze financial data and provide investment recommendations, while Investment Advisers (IAs) offer personalized advice and manage portfolios for clients.
   • Why: This framework aims to enhance oversight and regulation in the securities market, ensuring investor protection and promoting market development.
   • Tell me more:
     • Framework details: Recognized stock exchanges will serve as Research Analyst Administration and Supervisory Bodies (RAASB) and Investment Adviser Administration and Supervisory Bodies (IAASB).
     • Effective Date: Starting July 25, 2024, according to SEBI’s powers.
     • Single Entity: Initially, one stock exchange will handle both Research Analyst and Investment Adviser supervision for efficiency.
     • Recognition Criteria: Stock exchanges must be operational for 15 years, have a net worth of Rs 200 crore, and nationwide presence with investor service centers in 20 cities. They must also offer online dispute resolution.
     • Infrastructure Requirement: Exchanges must establish systems for administration and supervision, and internal committees to oversee Research Analysts and Investment Advisers.
     • Responsibilities: RAASB/IAASB will handle registration, enforcement, and disciplinary actions.
     • Single Window Clearance: For individuals registered as both Research Analysts and Investment Advisers, a streamlined approval process is proposed.
     • Reporting Obligations: Registered analysts/advisers must submit periodic reports to RAASB/IAASB as specified by SEBI.
     • Monitoring: SEBI will monitor RAASB and IAASB through regular reports and inspections concerning analyst and adviser supervision.
       Source: Business Standard

3. Outstanding credit to housing up by Rs. 10 trillion in last 2 years: RBI
   • What: According to the Reserve Bank of India (RBI) data on “Sectoral Deployment of Bank Credit,” the outstanding credit to the housing sector has risen significantly in the last two fiscal years.
   • Why: This growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand.
   • Tell me more:
     • For March 2024, the credit outstanding to the housing (including priority sector housing’) stood at Rs 27,23 Lakh crore in March 2024, up from Rs 19.88 Lakh crore in March 2023, and Rs 17.26 Lakh crore in March 2022.
       Source: MoneyControl
4. IFFCO Granted Approval for Nano Zinc and Nano Copper Liquid Fertilizers
   • What: Indian Farmers Fertiliser Cooperative Limited (IFFCO) has received approval under the Fertiliser Control Order (FCO) to introduce its IFFCO Nano Zinc (Liquid) and IFFCO Nano Copper (Liquid) fertilisers.
   • Why: These fertilisers are designed to address zinc and copper deficiencies in agricultural crops, promoting growth, development, and productivity.
   • Tell me more:
     • Approval: IFFCO Nano Zinc (Liquid) and IFFCO Nano Copper (Liquid) have received government approval for a three-year period.
     • Nanotechnology-based Products: With this launch, IFFCO expands its range to five liquid fertiliser products based on nanotechnology, including Nano Urea, Nano Di-Ammonia Phosphate (DAP), and Nano Urea Plus.
       Source: ANI

Reports and Indices

1. World Press Freedom Index – 2024 released
   • What: In the latest edition of the World Press Freedom Index (WPFI) published annually by Reporters Without Borders (RSF),a France based international NGO
   • The WPFI is an annual ranking of countries compiled and published by RSF since 2002.
   • It only deals with press freedom and does not measure the quality of journalism in the countries it assesses, nor does it look at human rights violations in general.
   • The press freedom questionnaire covers five categories – political context, legal framework, economic context, sociocultural context and security.
   • It is published on World Press Freedom Day (3 May).
   • Theme: “A Press for the Planet: Journalism in the face of the Environmental Crisis”
   • Tell me more:
     • India specific data
       • For 2024, India has been ranked at 159th out of 180 countries evaluated, however India’s rank improved from 161 in 2023.
       • However, India’s score fell (from 36.62 to 31.28, and scores dropped in all but the security indicator), and the ranking improved because other countries had slipped in their rankings.
       • Surprisingly, India trails behind its neighboring nation Pakistan, which holds the 152nd position, while Sri Lanka stands at 150th place.
       • The RSF claimed that press freedom is in crisis in the world’s largest democracy.
       • 9 journalists and 1 media worker have been detained in India as of today, while no journalist/media worker has been killed in the country since January 2024.
       • The RSF’s analysis mentioned that the government has engineered a spectacular rapprochement between the (ruling) party and the big families dominating the media.
       • For example, the Reliance group owns more than 70 media outlets that are followed by at least 800 million Indians.
     • Global ranking
       • Norway, still in first place, has seen a fall in its political score, and Ireland (8th), where politicians have subjected media outlets to judicial intimidation, has ceded its leading position in the EU to Denmark (2nd), followed by Sweden (3rd).
       • The three Asian countries at the bottom of last year’s Index – Vietnam, China and North Korea – have ceded their positions to Afghanistan; Syria; and Eritrea (last).
       • Among the countries going to the polls this year, the U.S. was the most concerning in terms of press freedoms.
       • Top 10 countries:
         • Norway (1), Denmark (2), Sweden (3), Netherlands (4), Finland (5), Estonia (6), Portugal (7), Ireland (8), Switzerland (9), Germany (10)
       • The 10 countries ranked worst on the index are:
         • Eritrea (180), Syria (179), Afghanistan (178), North Korea (177), Iran (176), Turkmenistan (175), Vietnam (174), Bahrain (173), China (172), Myanmar (171).
           Source: RSF

Defence News

1. Flying Wedge Defence Launches India’s First Indigenous Military Grade Bomber Drone
   • What: Flying Wedge Defence and Aerospace Technologies Private Limited, based in Bengaluru, Karnataka, has unveiled the FWD-200B, India’s inaugural indigenous military-grade bomber drone.
   • Why: This development aims to bolster national defense capabilities, reduce reliance on imports, and align with the Make in India initiative.
   • Tell me more:
   • The FWD-200B is categorized as a Medium-Altitude, Long-Endurance (MALE) Unmanned Combat Aerial Vehicle (UCAV), wholly designed and manufactured in India.
   • In 2023, Flying Wedge Defence and Aerospace Technologies became the first entity to secure DGCA type certification for indigenous UAV technology in India.
   • They have collaborated with the Special Protection Group (SPG) and Larsen & Toubro (L&T) to deploy drones for protecting the Indian Prime Minister (PM).
     Source: The Hindu

Science and Tech

1. German company launches candle wax-powered rocket on test flight into space
   • What: HyImpulse, a German company, achieved a significant milestone by successfully tested a rocket powered by candle wax. Notably, it marked the first instance of a candle wax-powered rocket capable of carrying commercial satellites.
     Source: Bloomberg

Important Days

1. May 3: International Leopard Dy 2024
   • What: International Leopard Day is annually observed across the globe on 3rd May to raise awareness about the conservation and protection of leopards,
   • India is home to 13,874 leopards, Madhya Pradesh leads with 3,907 leopards, followed by Maharashtra, Karnataka, and Tamil Nadu.
     Source: Hindustan Times
2. May 4: International Firefighter’s Day
   • What: International Firefighters’ Day (IFFD) is observed annually on May 4 to recognize the bravery and sacrifices of firefighters worldwide and to express gratitude for their dedication to safeguarding communities and environments.
     Source: The Quint

Sports

1. AICF president announces Rs 65 Crores budget for ‘Bharatiya Chess’ ecosystem
   • What: The president of the All-India Chess Federation, Nitin Narang, announced a Rs 65 crore budget to bolster the ‘Bharatiya Chess’ ecosystem.
   • Tell me more:
     • It would also include the launch of two special programs — AICF Pro and AICF Popular — to promote chess on a wider scale across the country.
     • There are some other key initiatives set to be introduced by the AICF which are –
       • One Nation, One Registration’ — An innovative online platform that will facilitate seamless registration for players, with unique login credentials to State Associations at no cost to enhance participation.
       • The AICF will come up with two-year contracts for national-level players, from U-7
         to U-19 age groups, disbursing funds ranging from Rs. 20,000 to Rs. 50,000 to players via Direct Benefit Transfer under the relevant categories.
       • The top 20 FIDE-rated players’ would get annual contracts of Rs 25,00,000 and Rs 12,50,000 per annum with a total outlay of 4 crores.

         Source: Business Standard

Memorandum of Understanding

1. Fship Logistics and India Post Collaborate for Last-Mile E-commerce Deliveries
   • What: Fship Logistics, a technology-driven logistics platform, has signed an MoU with India Post to enhance last-mile delivery services for e-commerce products.
     Source: ZeeBiz
   
   

Appointment

1. Centre approves appointment of Sanjaya Kumar Mishra as President, GSTAT
   • What: The Appointment Committee of the Cabinet has approved the appointment of Sanjaya Kumar Mishra, former Chief Justice of the Jharkhand High Court, as the President of the Goods and Services Tax Appellate Tribunal (GSTAT) for a term of four years.
     Source: Business Standard

2. Vice Admiral Krishna Swaminathan Assumes Role as Vice Chief of Naval Staff
   • What: Vice Admiral Krishna Swaminathan assumed office as the Vice Chief of Naval Staff on May 1, 2024, succeeding Admiral Dinesh K Tripathi.
   • Why: He replaced Admiral Dinesh K Tripathi who assumed charge as Chief of Naval Staff (CNS).
     Source: PIB

3. Dr. Subhransu Sekhar Acharya Assumes Role as Chairman-cum-Managing Director of NSIC
   • What: Dr. Subhransu Sekhar Acharya took charge as Chairman-cum-Managing Director (CMD) of the National Small Industries Corporation Limited (NSIC).
   • Why: Acharya succeeded Vipul Goel, who had been serving as CMD (additional charge) since July 2023.
     Source: NSIC

4. Dr. Mallika Nadda Appointed Chairperson of Special Olympics Asia-Pacific Advisory Council
   • What: Dr. Mallika Nadda has been appointed as Chairperson of the Special Olympics Asia-Pacific Advisory Council (APAC) for a three-year term, effective from May 1, 2024, to March 31, 2027.
   • Why: In her new role, Nadda will represent the entire Special Olympics Asia Pacific (SOAP) region, consisting of 34 countries, and serve as the SO Bharat representative on the APAC, with SO Bharat being a permanent member of APAC.
   • Special Olympics is an international competition, modelled on the Olympic Games, for athletes with intellectual disabilities.
     Source: First post

5. Sanjeev Nautiyal Appointed Managing Director & CEO of Ujjivan Small Finance Bank
   • What: Sanjeev Nautiyal has been appointed as the Managing Director (MD) & Chief Executive Officer (CEO) of Ujjivan Small Finance Bank Limited (Ujjivan SFB) for a 3-year term starting from July 1, 2024.
     Source: Business Standard

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