26th April, 2024

1. The Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers, Government of India, has approved the expansion of a committee tasked with examining pricing reforms for drugs and medical devices by including representatives from various industry bodies.
2. Geeta Kapur, Chairman and Managing Director (CMD) of SJVN Limited, inaugurated India’s first multipurpose (combined Heat and Power) green hydrogen pilot project at the 1,500 megawatt (MW) Nathpa Jhakri Hydro Power Station (NJHPS) in Jhakri, Himachal Pradesh (HP).
3. Bhutan along with Tiger Conservation Coalition, hosted the ‘Sustainable Finance for Tiger
   Landscapes’ Conference
4. The latest order from Food Safety Standards Authority of India (FSSAI) has increased the MRL of pesticides from 0.01 mg/kg to 0.1 mg/kg.
5. Telecom Regulatory Authority of India (TRAI) has released recommendations on ‘Telecommunication Infrastructure Sharing, Spectrum Sharing, and Spectrum Leasing’.
6. The World Bank, in collaboration with India’s Ministry of Electronics & Information Technology (MeitY), is developing a state-level digital public infrastructure (DPI) adoption index to bolster the digital economy and enhance financial inclusion.
7. India remains “one of the world’s most challenging” major economies with respect to the protection and enforcement of intellectual property (IP), as the USA placed India on the
   Priority Watch List on its 2024 Special 301 Report.
8. PayU Payments Private Limited (PayU), a prominent payments solution provider, has secured in-principle approval from the Reserve Bank of India (RBI) to operate as a Payments Aggregator (PA).
9. The Reserve Bank of India (RBI) exercised its powers under Section 35A of the Banking Regulation (BR) Act, 1949, to prohibit Kotak Mahindra Bank Limited from onboarding new customers through its online and mobile banking channels, as well as issuing fresh credit cards.
10. The Reserve Bank of India (RBI) released a master direction for asset reconstruction companies (ARCs).
11. The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹10 lakh on NABFINS Limited, Bengaluru, a subsidiary of NABARD, for non-compliance with certain provisions of the Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.
12. CRISIL ESG Ratings & Analytics received approval from the Securities and Exchange Board of India (SEBI) as a Category 1 provider of environmental, social, and governance (ESG) ratings.
13. A study published by The Lancet reveals that global immunization efforts have saved an estimated 154 million lives – or the equivalent of 6 lives every minute of every year – over the past 50 years. The vast majority of lives saved – 101 million – were those of infants.
14. The Global Report on Food Crises (GRFC) is produced annually by the Food Security Information Network (FSIN) and launched by the Global Network Against Food Crises (GNAFC) – a multistakeholder initiative that includes United Nations organizations, the European Union, the United States Agency for International Development, and non-governmental agencies working together to tackle food crises.
15. As per the data from EM-DAT climate disaster database, climate disasters, including floods, landslides, and heat waves, have impacted over a billion Indians and incurred economic losses exceeding $120 billion this century.
16. Rocket Lab USA, Inc.’s Electron rocket launched NASA’s Advanced Composite Solar Sail System (ACS3) and South Korea’s NEONSAT-1 from New Zealand.
17. NASA’s Voyager 1 Resumes Sending Engineering Updates to Earth
18. The Indian Air Force has successfully tested a new version of a medium-range ballistic missile Missile know as Crystal Maze 2
19. Indian student teams from Delhi-NCR and Mumbai secured awards at NASA’s 30th Human Exploration Rover Challenge (HERC) 2024.
20. April 25: World Malaria Day 2024
21. April 25: International Girls in ICT Day
22. April 24: UN’s Multilateralism Day: Promoting Peace Through Cooperation
23. The International Financial Services Centres Authority (IFSCA) of India and the Capitals Market Authority (CMA) of Kuwait inked a MoU to facilitate the exchange of information on technologies and innovations within the financial and regulatory ecosystem.
24. Khanij Bidesh India Limited (KABIL) and the Council of Scientific and Industrial Research – National Geophysical Research Institute (CSIR-NGRI) signed a MOU for long-term collaboration in geophysical investigations.
25. The board of Axis Bank Limited has approved the re-appointment of Amitabh Singh Chaudhry as its Managing Director (MD) and Chief Executive Officer (CEO) for a further three-year term.
26. Gita Sabharwal of India assumed the position of United Nations (UN) Resident Coordinator (UN RC) in the Republic of Indonesia, succeeding Valerie Julliand of France.
27. The board of Srei Infrastructure Finance Limited (SIFL), under the management of the National Asset Reconstruction Company Limited (NARCL), appoints Hardayal Prasad as its new Managing Director (MD) and Chief Executive Officer (CEO).
28. Jamaican sprinter Usain Bolt, an eight-time Olympic gold medallist, is named the ambassador of the 9th edition of ICC Men’s T20 World Cup 2024.
29. The Central Government has re-appointed Shri T Rabi Sankar as Deputy Governor, Reserve Bank of India, for a period of one year with effect from May 03, 2024, or until further orders, whichever is earlier.
30. Coromandel International, a division of Chennai’s Murugappa Group, has appointed Arun Alagappan as its executive chairman following the retirement of A Vellayan from the position of Chairman and Non-Executive Director.
31. The people of the Diphu Constituency (Assam) have been demanding the implementation of Article 244(A) of the Constitution.
32. Recently, The Supreme Court has stayed construction of four proposed dams inside KWS in Haryana’s Yamunanagar district.

National News

1. “Government Expands Committee for Drug Pricing Reforms”
   • What: The Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers, Government of India, has approved the expansion of a committee tasked with examining pricing reforms for drugs and medical devices by including representatives from various industry bodies.
   • Why: The primary goal is to strike a balance between ensuring better availability of medicines and devices while providing incentives for industry growth and export sustainability.
   • Tell me more:
     • The committee will focus on suggesting institutional reforms within the National Pharmaceutical Pricing Authority (NPPA).
     • Here are the key details about the expanded committee:
       • Committee Composition:
         • Secretary, Department of Pharmaceuticals
         • Chairman, National Pharmaceutical Pricing Authority (NPPA)
         • Senior Economic Adviser, Department of Pharmaceuticals
       • Special Invitees from the Industry:
         • Secretary General, Indian Pharmaceutical Alliance
         • Chief Executive Officer, Indian Drugs Manufacturer’s Association
   • Background
     • The Department of Pharmaceuticals, in March 2024, announced the formation of a committee to regulate drug and essential medicine prices.
       • The committee comprised of three core members including the Secretary of the Department, Chairman of the National Pharmaceutical Pricing Authority (NPPA), and Senior Economic Advisor, it also includes two industry representatives: the Secretary-General of the Indian Pharmaceutical Alliance (IPA) and the CEO of the Indian Drugs Manufacturers Association (IDMA).
       • The committee’s key functions encompass drafting a framework for price moderation for medical devices and providing incentives to foster industry growth and exports.
         Source: Economic Times
2. “India’s First Multipurpose Green Hydrogen Pilot Project Inaugurated at NJHPS”
   • What: Geeta Kapur, Chairman and Managing Director (CMD) of SJVN Limited, inaugurated India’s first multipurpose (combined Heat and Power) green hydrogen pilot project at the 1,500 megawatt (MW) Nathpa Jhakri Hydro Power Station (NJHPS) in Jhakri, Himachal Pradesh (HP).
     • The inauguration also marked the launch of the first-of-its-kind centralized operation of the 1500MW NJPHS and 412 MW Rampur Hydrogen Power Station (RHPS), with Unit-II of RHPS remotely operated from NJHPS, Jhakri.
   • Why: The state-of-the-art green hydrogen pilot project is equipped to cater to the high-velocity oxygen fuel (HVOF) coating facility of NJHPS, meeting its combustion fuel requirements.
     Source: Economic Times

3. ‘Sustainable Finance for Tiger Landscapes’ Conference
   • What: Bhutan along with Tiger Conservation Coalition, hosted the ‘Sustainable Finance for Tiger
     Landscapes’ Conference
   • Why: The aim was to explore innovative solutions for sustainably financing tiger landscape conservation.
   • Tell me more:
     • The Sustainable Finance for Tiger Landscapes Conference was hosted by the Bhutan.
       • This historic event, held under the Royal Patronage of Her Majesty The Queen Jetsun Pema Wangchuck.
       • The conference culminated with the Paro Statement by the Royal Government of Bhutan in partnership with the Tiger Conservation Coalition, inviting participants to join the shared commitment to mobilise an additional US$1 billion to conserve tigers and tiger landscapes over the next ten years (by 2034)
       • The conference was attended by Bangladesh, Bhutan, Cambodia, China, India, Kazakhstan, Malaysia, Nepal, Thailand and Vietnam.
       • The conference acknowledged the tiger as the emblematic species of Asia, a revered cultural and spiritual symbol.
       • The United Nations Development Programme presented with the Tiger Landscapes Investment Fund.
       • The Asian Development Bank proposed “tiger bond”.
       • Emphasis on securing the 63 vital tiger landscapes for long-term tiger recovery
         Source: IUCN

4. FSSAI increased the Maximum Residue Limit (MRL) of pesticides in herbs and spices
   • What: The latest order from Food Safety Standards Authority of India (FSSAI) has increased the MRL of pesticides from 0.01 mg/kg to 0.1 mg/kg.
   • About MRL
     • The Food and Agriculture Organization (FAO) defined MRL as the highest legally tolerable level of pesticide in food or animal feed.
       Source: The Telegraph

5. TRAI releases Recommendations on Telecommunication Infrastructure Sharing
   • What: Telecom Regulatory Authority of India (TRAI) has released recommendations on ‘Telecommunication Infrastructure Sharing, Spectrum Sharing, and Spectrum Leasing’.
   • Telecommunications Act, 2023 provided that the Central Government may permit the sharing, trading, leasing and surrender of assigned spectrum.
   • These recommendations are on the Department of Telecommunications proposal to allow sharing of all kinds of telecom infrastructure and network elements.
   • Recommendations made by TRAI
     • Licensees should be allowed to share the passive infrastructure such as building, tower etc.
     • Infrastructure built using Digital Bharat Nidhi should be mandated to allow roaming to other service providers in remote areas for 3 years.
     • Spectrum leasing and inter-band spectrum sharing should also be permitted for efficient utilization of scarce spectrum.
       Source: Business Standard
6. World Bank and MeitY to Collaborate on State-Level Digital Public Infrastructure Index
   • What: The World Bank, in collaboration with India’s Ministry of Electronics & Information Technology (MeitY), is developing a state-level digital public infrastructure (DPI) adoption index to bolster the digital economy and enhance financial inclusion.
   • Why: The initiative aims to assess the level of adoption of DPIs across different states, encouraging their utilization to identify gaps and strengthen digital infrastructure. The index is expected to facilitate public-private innovation and inform policymaking.
   • Tell me more:
     • The DPI index project, currently in preparation, involves the participation of consulting firms.
     • Its methodology and specific details are yet to be disclosed. The index’s development will be guided by MeitY, focusing on leveraging shared and interoperable digital systems to promote open standards and specifications.
       Source: Business Standard

International News

1. India Listed on Priority Watch List for IP Protection by US
   • What: India remains “one of the world’s most challenging” major economies with respect to the protection and enforcement of intellectual property (IP), as the USA placed India on the
     Priority Watch List on its 2024 Special 301 Report.
   • Why: India, alongside Argentina, Chile, China, Indonesia, Russia, and Venezuela, faces intensified scrutiny for the adequacy of IP protection and enforcement, according to the US Trade Representative.
   • Tell me more:
     • The Special 301 Report annually assesses global IP protection and enforcement, indicating heightened bilateral engagement with the listed countries in the coming year to address IP concerns.
       Source: Business Standard

Banking and Economy

1. PayU Receives RBI Approval as Payments Aggregator
   • What: PayU Payments Private Limited (PayU), a prominent payments solution provider, has secured in-principle approval from the Reserve Bank of India (RBI) to operate as a Payments Aggregator (PA).
     • In January 2023, the RBI had returned the fintech firm’s application to operate as a payment aggregator due to its complex corporate structure and directed it to reapply
   • This approval enables PayU to onboard new merchants, extending seamless payment services, with a focus on driving digitization and financial inclusion, particularly for small businesses.
     Source: Business Standard

   
   
   
   

2. “RBI Bars Kotak Mahindra Bank from Onboarding New Customers and Issuing Credit Cards”
   • What: The Reserve Bank of India (RBI) exercised its powers under Section 35A of the Banking Regulation (BR) Act, 1949, to prohibit Kotak Mahindra Bank Limited from onboarding new customers through its online and mobile banking channels, as well as issuing fresh credit cards.
     • Despite this directive, the bank will continue to serve its existing customers, including those with credit cards.
   • Why: The RBI’s decision stems from serious deficiencies identified during its Information Technology (IT) examinations for 2022 and 2023, which the bank failed to promptly rectify.
   • Tell me more:
     • Kotak Mahindra Bank’s IT risk and information security governance fell short of regulatory standards for two consecutive years, leading to frequent outages in its Core Banking System (CBS) and digital channels, culminating in a disruption on April 15, 2024.
       Source: Business Standard

3. RBI tells ARCs to maintain ₹300 crore in net owned fund by FY26
   • What: The Reserve Bank of India (RBI) released a master direction for asset reconstruction companies (ARCs).
     • Asset Reconstruction Companies (ARCs) are specialized financial institutions that buy the bad assets or non-performing assets (NPAs) from banks and financial institutions.
     • The minimum capital requirement for banks refers to the mandatory amount of financial resources that banks and other financial institutions are required to hold by regulatory authorities.
   • Tell me more:
     • ARCs are expected to have a minimum capital requirement of Rs 300 crore, compared to Rs 100 crore as on October 11, 2022. Existing ARCs have been provided a glide path to achieve the minimum required Net Owned Fund (NOF) of Rs 300 crore as on March 31, 2026.
     • ARCs must have a minimum capital of Rs 200 crore by March 31, 2024.
     • The non-compliance at any stage will result in supervisory action, including a prohibition on undertaking incremental business until the required minimum Net Owned Fund (NOF) is met.
     • ARCs with a minimum NOF of Rs 1000 crore are permitted to act as resolution applicants. They can invest funds in government securities, deposits with scheduled commercial banks, Small Industries Development Bank of India (SIDBI), National Bank for Agriculture and Rural Development (NABARD), or entities specified by the RBI.
     • Additionally, ARCs are authorized to invest in short-term instruments such as money market mutual funds, certificates of deposit, and corporate bonds/commercial papers with a short-term rating equivalent to AA- or above by an eligible credit rating agency (CRA). However, investments are capped at 10 percent of the NOF on maximum investment in such short-term instruments.
       Source: Business Standard
4. RBI imposes monetary penalty on NABFINS Limited, Bengaluru
   • What: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹10 lakh on NABFINS Limited, Bengaluru, a subsidiary of NABARD, for non-compliance with certain provisions of the Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.
   • Why: The penalty was imposed based on findings from a statutory inspection conducted by RBI referencing the company’s financial position as of March 31, 2022. Non-compliance with RBI directions and related correspondence led to a notice advising the company to show cause as to why a penalty should not be imposed.
     Source: RBI
5. CRISIL ESG Ratings & Analytics Approved as Category 1 Provider by SEBI
   • What: CRISIL ESG Ratings & Analytics received approval from the Securities and Exchange Board of India (SEBI) as a Category 1 provider of environmental, social, and governance (ESG) ratings.
     • A Category 1 provider is the highest designation signifying that the ESG ratings meet the most stringent regulatory requirements.
     • ESG scores are indicators whether a company is sustainable and follows ethics.
   • Why: After the overhaul of the norms for ESG rating providers (ERPs) by the market regulator last year, ESG scoring businesses required registration and certification. CRISIL ESG Ratings, a unit of CRISIL, was incorporated to comply with the same mandate.
   • Tell me more:
     • CRISIL launched it’s ESG scoring business for over 1,000 companies across 65 sectors since its launch in 2021.
     • The company said that this business will now be transferred to the subsidiary CRISIL ESG Ratings.
     • SEBI introduced two categories for ESG rating entities based on their net worth and functions. The regulation aims to ensure transparency, practicality, accuracy, and alignment with the Indian ecosystem in ESG rating methodologies.
       Source: Business Standard

   
   

Report and Indices

1. Global immunization efforts have saved at least 154 million lives over the past 50 years
   • What: A study published by The Lancet reveals that global immunization efforts have saved an estimated 154 million lives – or the equivalent of 6 lives every minute of every year – over the past 50 years. The vast majority of lives saved – 101 million – were those of infants.
   • Tell me more:
     • The study, led by the WHO, shows that immunization is the single greatest contribution of any health intervention to ensuring babies not only see their first birthdays but continue leading healthy lives into adulthood.
     • The study analyzed the Expanded Programme on Immunization (EPI), launched by WHO in 1974 to ensure that all children, in all countries, benefited from life-saving vaccines.
     • Measles vaccination had the most significant impact on reducing infant mortality.
     • Vaccination against 14 diseases contributed to reducing infant mortality by 40% globally
     • For each life saved through immunization, an average of 66 years of full health were gained.
     • Factors responsible for increase in access to immunisation Collaboration among stakeholders such as governments, health agencies, etc.
       Source: WHO

2. Global Report on Food Crises
   • What: The Global Report on Food Crises (GRFC) is produced annually by the Food Security Information Network (FSIN) and launched by the Global Network Against Food Crises (GNAFC) – a multistakeholder initiative that includes United Nations organizations, the European Union, the United States Agency for International Development, and non-governmental agencies working together to tackle food crises.
   • Why: The report is a critical assessment that sheds light on the severity of food insecurity worldwide.
   • Tell me more (Major findings)
     • Acute hunger remains persistently high in 59 countries with 1-in-5 people assessed in need of critical urgent action.
     • The number of people experiencing acute food insecurity and requiring urgent food and livelihood assistance is increasing.
     • Acute food insecurity has remained alarmingly high at nearly 22% for four consecutive years, surpassing pre-COVID levels. Children and women are disproportionately affected, with over 36 million children under 5 suffering from acute malnutrition across 32 countries, exacerbated by conflict and displacement.
     • In 2023, nearly 282 million people across 59 countries and territories faced severe hunger, a global increase of 24 million from the previous year.
       • This surge was driven by heightened coverage of food crises and a notable decline in food security, notably in Gaza and Sudan.

3. Climate Disasters Cost India Over $120 Billion, Affecting Over a Billion People
   • What: As per the data from EM-DAT climate disaster database, climate disasters, including floods, landslides, and heat waves, have impacted over a billion Indians and incurred economic losses exceeding $120 billion this century.
   • Tell me more:
     • In 2023 alone, these disasters affected over 15 million people and caused over 2,000 deaths.
     • The economic toll of climate-related disasters has averaged $5 billion annually over the last two decades. The World Meteorological Organisation (WMO) notes that Asia, including India, is warming faster than the global average, leading to more severe heat waves and water-related disasters. In 2022, India experienced about 82 days of extreme heat on average and over 15 days of heavy precipitation.

Source: Business Standard

Science and Tech

1. “Rocket Lab’s Electron Launches NASA’s Solar Sail and South Korea’s NEONSAT-1”
   • What: Rocket Lab USA, Inc.’s Electron rocket launched NASA’s Advanced Composite Solar Sail System (ACS3) and South Korea’s NEONSAT-1 from New Zealand.
   • NEONSAT-1, an Earth observation satellite, equipped with a high-resolution optical camera, aims to monitor natural disasters on the Korean Peninsula using AI.
   • NASA’s ACS3 is a technology demonstration utilizing sunlight to propel spacecraft, featuring a CubeSat with a solar sail deployed by booms.
     Source: Rocket Lab
2. NASA’s Voyager 1 Resumes Sending Engineering Updates to Earth
   • What: NASA’s Voyager 1 Resumes Sending Engineering Updates to Earth
   • Earlier it stopped sending data back to Earth from Nov,2023.
   • Voyager 1 was Launched in 1977 to fly by Jupiter and Saturn
     Source: NASA

Defence News

1. IAF Successfully Tests Air-Launched Ballistic Missile ‘Crystal Maze 2’
   • What: The Indian Air Force has successfully tested a new version of a medium-range ballistic missile Missile know as Crystal Maze 2
   • About Crystal Maze 2 (aka ROCKS):
     • Origin: medium-range ballistic missile developed by Israel.
     • Range: strike range of over 250 km
     • Type: Air-to-surface missile
     • Aim: designed to strike high-value stationary and relocatable targets in GPS-denied environments
       Source: Financial Express

Memorandum of Understanding

1. IFSCA and CMA Kuwait Sign MoU to Foster Financial Innovation
   • What: The International Financial Services Centres Authority (IFSCA) of India and the Capitals Market Authority (CMA) of Kuwait inked a MoU to facilitate the exchange of information on technologies and innovations within the financial and regulatory ecosystem.
   • Why: The partnership focuses in fostering economic cooperation between India and Kuwait.
   • Tell me more:
     • The MoU was signed during the India-Kuwait Investment Conference 2.0 held in Kuwait City, Kuwait, emphasizing collaboration to enhance the development of financial markets in both countries.
     • The India-Kuwait Investment Conference 2.0 was organized by the Embassy of India in Kuwait, in partnership with the India Business and Professional Council (IBPC), Union Investment of Companies (UIC), and Kuwait Chamber of Commerce and Industry (KCCI).
       Source: The Print

2. “KABIL and CSIR-NGRI Collaborate for Geophysical Investigations”
   • What: Khanij Bidesh India Limited (KABIL) and the Council of Scientific and Industrial Research – National Geophysical Research Institute (CSIR-NGRI) signed a MOU for long-term collaboration in geophysical investigations.
   • Why: The partnership aims to bolster KABIL’s ongoing projects and activities in critical and strategic minerals.
   • Focus areas of collaboration include surveys, data analysis, scientific knowledge sharing, and technical support, along with advisory services in geophysics, geochemistry, and geology.
     Source: PIB

   
   

Important Days

1. April 25: World Malaria Day 2024
   • What: World Malaria Day (WMD) annually observed on April 25.
   • Why: Global efforts to control and eradicate malaria caused by Plasmodium parasites.
   • Organized by: World Health Organisation (WHO).
   • Theme 2024: “Accelerating the fight against malaria for a more equitable world.”
     Source: WHO
2. April 25: International Girls in ICT Day
   • What: The International Girls in ICT (Information and Communications Technology) Day is annually observed across the globe on the 4th Thursday of April
   • Why: To inspire and encourage girls and women to pursue studies and careers in ICT and promote bridging the gender digital divide.
   • Organized by: International Telecommunication Union (ITU)
   • Theme: “Leadership”
     Source: ITU

3. April 24: UN’s Multilateralism Day: Promoting Peace Through Cooperation
   • What: The United Nations (UN) observes International Day of Multilateralism and Diplomacy for Peace annually on April 24.
   • Why: The day aims to promote the values of multilateralism and international cooperation, which are fundamental principles of the UN Charter.
     Source: India.UN
   
   

Awards

1. “Indian Teams Excel at NASA’s Human Exploration Rover Challenge 2024”
   • What: Indian student teams from Delhi-NCR and Mumbai secured awards at NASA’s 30th Human Exploration Rover Challenge (HERC) 2024.
   • The Krishna Institute of Engineering & Technology (KIET) Group of Institutions, Delhi-NCR, received the “Crash and Burn” award, while Kanakia International School from Mumbai was honored with the “Rookie of the Year” award.
   • The competition took place at the United States Space & Rocket Center in Huntsville, Alabama, near NASA’s Marshall Space Flight Center
     Source: Times of India

Appointment

1. “Axis Bank Renews Amitabh Chaudhry’s Tenure as MD & CEO”
   • What: The board of Axis Bank Limited has approved the re-appointment of Amitabh Singh Chaudhry as its Managing Director (MD) and Chief Executive Officer (CEO) for a further three-year term.
   • Additionally, the board has approved the re-appointment of Meena Ganesh and Gopalaraman Padmanabhan as Independent Directors for a second term of four years each.
     Source: Indian Express

2. “Gita Sabharwal Assumes UN Resident Coordinator Role in Indonesia”
   • What: Gita Sabharwal of India assumed the position of United Nations (UN) Resident Coordinator (UN RC) in the Republic of Indonesia, succeeding Valerie Julliand of France.
     • Sabharwal’s appointment was made by UN Secretary-General António Guterres with prior approval from the Indonesian government.
       Source: UN

3. Hardayal Prasad Takes Helm at Srei Infrastructure Finance Limited”
   • What: The board of Srei Infrastructure Finance Limited (SIFL), under the management of the National Asset Reconstruction Company Limited (NARCL), appoints Hardayal Prasad as its new Managing Director (MD) and Chief Executive Officer (CEO).
     Source: Economic Times
4. Usain Bolt, is named the ambassador of the 9th edition of ICC Men’s T20 World Cup 2024
   • What: Jamaican sprinter Usain Bolt, an eight-time Olympic gold medallist, is named the ambassador of the 9th edition of ICC Men’s T20 World Cup 2024.
   • The tournament, scheduled from June 1 to 29, 2024, will be held in West Indies and the United States of America (USA), featuring 20 teams competing across 55 games.
     Source: ICC
5. RBI Deputy Governor T Rabi Sankar gets 1 year extension
   • What: The Central Government has re-appointed Shri T Rabi Sankar as Deputy Governor, Reserve Bank of India, for a period of one year with effect from May 03, 2024, or until further orders, whichever is earlier.
     Source: Live Mint
6. Arun Alagappan Named Executive Chairman of Coromandel International
   • What: Coromandel International, a division of Chennai’s Murugappa Group, has appointed Arun Alagappan as its executive chairman following the retirement of A Vellayan from the position of Chairman and Non-Executive Director.
     Source: Business Standard

Miscellaneous

1. Article 244(A)
   • The people of the Diphu Constituency (Assam) have been demanding the implementation of Article 244(A) of the Constitution.
   • About Article 244(A)
     • Inserted by the 22nd Constitutional Amendment Act, 1969.
     • It enables the formation of an autonomous State comprising certain tribal areas in Assam.
     • The formed autonomous state shall have its own local Legislature or Council of Ministers or both for local administration.
     • Provides for more powers to tribal areas than the Sixth Schedule by providing control over the law and order in the region.
       Source: Indian Express
2. Kalesar Wildlife Sanctuary (KWS)
   • Why: Recently, The Supreme Court has stayed construction of four proposed dams inside KWS in Haryana’s Yamunanagar district.
   • About Kalesar Wildlife Sanctuary
     • It is at the junction of the states of Haryana, Himachal Pradesh, Uttarakhand and Uttar Pradesh.
     • It’s the largest wildlife sanctuary in Haryana situated at lower Shivalik in the Himalayan foothills.
     • It’s an important Bird and Biodiversity Areas (IBAs).
       Source: The Tribune

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