12th April, 2024

1. The Government of India and the Government of Mauritius have amended the India-Mauritius Double Tax Avoidance Agreement (DTAA) to prioritize preventing tax evasion over promoting bilateral investment flows.
2. The Command Hospital Pune performed two successful piezoelectric bone conduction hearing implants, making it the first government hospital in the country to do the medical operations.
3. The Income Tax (IT) department has come out with an interim action plan
   for the financial year 2024-25, which includes the identification of potential cases of prosecution, wherein there is short payment of Tax Deducted at Source (TDS), and faster disposal of appeals.
4. The USA and Japan unveiled plans to enhance military integration during Prime Minister Fumio Kishida’s visit to USA, emphasizing Japan’s significance as a key ally against China.
5. India Post Payments Bank recently announced their new service, the IPPBONLine Aadhaar ATM.
6. The Asian Development Bank (ADB) predicts India’s economy to grow at 7% in FY25, up from the previously projected 6.7% in December.
7. National Investment and Infrastructure Fund Limited (NIIF) invested USD 200 million (about Rs 1660 crores) in iBus Network And Infrastructure Pvt Ltd(iBUS), a Bengaluru-based Digital Infrastructure Solutions Company.
8. ICICI Lombard General Insurance Company Limited partnered with the insurance platform Policybazaar to offer its insurance products.
9. Bengaluru-based Fintech company PhonePe partnered with eSewa, a digital wallet service in Nepal, and the Hotel Association of Nepal (HAN)-Pokhara.
10. IL&FS has decided to sell its entire 26 per cent equity stake in Noida Toll Bridge Company Ltd (NTBCL), which owns and maintains DND flyover connecting Delhi to Noida.
11. Edelweiss Alternatives announced that it has completed the Rs 6,000 crore (100% ownership) deal to acquire L&T Infrastructure Development Projects (LTIDPL), which owns various road assets and power transmission lines.
12. French carmaker Citroën became the first multinational car manufacturer in India to export domestically made electric vehicles to the international market.
13. Swiggy launches Swiggy Paw-ternity Policy on April 11th, National Pet Day.
14. The World Trade Organisation has published the latest edition of the Global Trade Outlook & Statistics Report.
15. Quacquarelli Symonds (QS) released the 14th edition of the QS World University Rankings by Subject 2024.
16. A Report titled “Financing for Development at a Crossroads,” was released by the UN Department of Economic and Social Affairs to address a critical challenge: a lack of funding for achieving the Sustainable Development Goals (SDGs).
17. NASA and the Japanese government have signed an agreement to advance sustainable human exploration of the Moon.
18. The Tri-service Conference, named ‘Parivartan Chintan’, took place in New Delhi.
19. The ICAR-Indian Institute of Spices Research (ICAR-IISR), Kozhikode, has developed and validated three new microbial formulations based on granular lime and gypsum to help farmers improve agricultural productivity.
20. The Indian American actress Avantika Vandanapu was honored as the ‘South Asian Person of the Year’ by the South Asian Association (SAA) at Harvard University, Cambridge, Massachusetts, USA (United States of America).
21. World Parkinson’s Day is observed annually on April 11 to raise awareness about Parkinson’s disease, a neurodegenerative disorder that affects millions of people worldwide
22. National Safe Motherhood Day is observed on 11 April, in India.
23. The Council of Scientific and Industrial Research – Institute of Minerals and Materials Technology (CSIR-IMMT) has signed a MoU with Khanij Bidesh India Limited (KABIL) for technical and knowledge cooperation to enhance the exploration of critical minerals in India.
24. Tata Passenger Electric Mobility (TPEM) and Shell India Markets (SIMPL) have signed a MoU) to collaborate on establishing new public charging stations across India.
25. Belgium’s Ingmar De Vos was elected unanimously as President of the Association of Summer Olympic International Federations (ASOIF)
26. The Financial Services Institutions Bureau (FSIB) recommended the Managing Director and Chief Executive Officer (CEO) of IFCI (formerly Industrial Finance Corporation of India), Manoj Mittal, for the position of Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI).
27. FSIB has appointed Sanjay Shukla as the MD of the National Housing Bank (NHB),
28. After retiring as a Justice of the Supreme Court of India on April 10th, Justice Aniruddha Bose has been appointed as the Director of The National Judicial Academy (NJAC), located in Bhopal.
29. Ms. Elisa Morgera from Italy has been appointed as an expert on human rights and climate change.
30. Essar Power Ltd. has announced the appointment of Ankur Kumar as the Chief Executive Officer (CEO) of its Renewables Business Divison.

National News

1. India, Mauritius sign protocol to amend tax treaty
   • What: The Government of India and the Government of Mauritius have amended the India-Mauritius Double Tax Avoidance Agreement (DTAA) to prioritize preventing tax evasion over promoting bilateral investment flows.
     • A Double Tax Avoidance Agreement (DTAA) is a treaty signed between two countries. Its purpose is to prevent people and businesses from getting taxed twice on the same income earned abroad.
   • Why: To shift focus from encouraging mutual trade and investment to preventing tax evasion and to avoid situations of reduced taxation or non-taxation.
   • Tell me more:
     • In February 2024, the Mauritius Cabinet of Ministers approved an amendment to the DTAA with India to align with the Organisation for Economic Co-operation and Development (OECD)’s proposal on Base Erosion and Profit Shifting (BEPS).
     • India and Mauritius signed the protocol to amend the India-Mauritius DTAA in 2023.
   • About the Amendment:
     • The expression “encouragement of mutual trade and investment” has been removed from the preamble of the agreement, indicating the shift in focus towards preventing tax evasion.
     • This underscores India’s commitment to international tax cooperation standards and raises critical considerations for investors using the India-Mauritius corridor.
     • Principal Purpose Test (PPT) incorporated:
       • The agreement now includes a Principal Purpose Test (PPT), allowing tax administration to deny treaty benefits if the primary purpose of a taxpayer’s action was to obtain a benefit.
       • This measure aims to reduce tax avoidance by ensuring that treaty benefits are granted only for transactions with genuine purposes.
         Source: Business Today

2. Pune’s Command Hospital first govt med facility in country to perform piezoelectric bone conduction hearing implants
   • What: The Command Hospital Pune performed two successful piezoelectric bone conduction hearing implants, making it the first government hospital in the country to do the medical operations.
   • Tell me more:
     • The positive results give a ray of hope to patients suffering from conductive or mixed hearing loss and those with single-sided deafness (SSD) who are unfit for cochlear implantation and do not benefit from hearing aids or middle ear surgery.
       Source: Hindustan Times
3. CBDT issues FY25 interim action plan to ensure quick disposal of appeals
   • What: The Income Tax (IT) department has come out with an interim action plan
     for the financial year 2024-25, which includes the identification of potential cases of prosecution, wherein there is short payment of Tax Deducted at Source (TDS), and faster disposal of appeals.
   • Why: The guidelines are aimed at ensuring focused efforts on tax collections, dispute resolution, high-value cases, pending information requests, and updating tax data within the
     technology portal.
   • Tell me more:
     • The action plan also stipulates timelines for the approval of refunds, identification of cases where seized assets are due for release and release the same by June 30.
     • Compounding proposals pending as of March 31, 2024, will be finalized, and 150 appeals will be disposed of by June 30.
     • Priority is given to appeals filed before April 1, 2020.
     • Taxpayers must apply to the assessing officer for pending refunds.
     • Processing applications for nil/lower TDS or TCS Certificates will be expedited, with resolutions promised within a month from April 1, 2024.
     • The plan prioritizes resolving audit objections, aiming for a 50% settlement of major and 75% of minor objections received by December 31, 2023, by June 30, 2024.
     • Immediate measures have been initiated to address grievances through e-Nivaran and
       CPGRAM platforms, which serve as pivotal mechanisms for grievance redressal.
       • Taxpayers are now required to file applications before the assessing officer for pending refunds pertaining to their respective assessments. This proactive approach aims to expedite the refund process, offering considerable relief to taxpayers and fostering a structured framework to bolster tax administration efficiency.
         Source: Business Standard

International News

1. USA, Japan unveils plans for military cooperation
   • What: The USA and Japan unveiled plans to enhance military integration during Prime Minister Fumio Kishida’s visit to USA, emphasizing Japan’s significance as a key ally against China.
   • Tell me more:
     • The two leaders announced a list of initiatives on aimed at boosting defence and intelligence cooperation, with projects ranging from missiles to moon landings.
     • The two countries will improve their respective command-and-control systems, form an industrial council to look into building weapons together, network their missile defence systems with Australia and start a joint exercise with the UK, among other agreements.
       Source: The Print

Banking and Economy

1. IPPB enables Aadhaar ATMs to withdraw cash without visiting ATMs or bank
   • What: India Post Payments Bank recently announced their new service, the IPPBONLine Aadhaar ATM.
   • Why: Customers can now withdraw cash from their homes, eliminating the need to visit the bank.
     • It emphasizes the convenience of the service, highlighting that customers can withdraw cash with assistance from their local postman.
   • Tell me more:
     • Using the Aadhaar Enabled Payment System (AEPS), individuals can withdraw cash or make payments from their Aadhaar-linked accounts using their biometric data.
     • According to the NPCI, “Business Correspondent (BC) is an approved Bank Agent providing basic banking service using a MicroATM (terminal) to any bank customer wishing to avail their bank BC service.”
     • There are no transactional charges on the customer. However, the Doorstep service charge will be applicable as per prevailing fees.
     • Under AEPS you can avail of the following services: Cash withdrawal, balance enquiry, mini statement and Aadhaar to Aadhaar fund transfer.
     • The customer looking to avail AEPS should mandatorily:
       • Have a Bank Account with a Bank participating in AEPS.
       • His / Her Aadhaar should be linked to his/her Bank account with another Bank.
       • Transaction is completed using his/her biometric authentication only.
         Source: Hindustan Times

2. ADB raises India’s GDP growth forecast for FY25 to 7%
   • What: The Asian Development Bank (ADB) predicts India’s economy to grow at 7% in FY25, up from the previously projected 6.7% in December.
   • FY24 is expected to see a growth rate of 7.6%, marking the fourth consecutive year of 7% or more growth if projections hold true.
   • ADB attributes the growth to increased investment demand and rural spending, along with support from public and private sectors.
   • The growth is expected despite a slowdown in exports in FY24 due to sluggishness in major advanced economies.
   • A supportive monetary policy, with easing inflation, and continued fiscal support for capital investment are anticipated.
   • RBI’s Monetary Policy Committee also aligns with ADB’s projection, highlighting bright prospects in agriculture and rural activity.
   • Investment prospects are bolstered by increased public capital expenditure and improving private investments.
   • Capital expenditure by both central and state governments is expected to remain robust, especially in infrastructure.
   • Private sector investments, particularly in housing, are forecasted to stay strong due to stable interest rates and higher income growth.
   • A new government initiative to support urban housing for middle-income households is expected to further boost housing growth.
   • Food inflation has been persistent but is projected to moderate to 5.7% in the current fiscal year.
   • Household inflation expectations are declining, and core inflation is expected to decrease to 3.8% before rising to 5% next fiscal year due to increased demand.
   • Global inflation moderation and stability in the global crude oil market are expected to help in managing the inflation outlook.
   • The Asian Development Bank (ADB) raised India’s GDP growth forecast for 2024 to 7% from 6.7%.
   • Growth driven by public and private sector investment demand, and gradual improvement in consumer demand.
     Source: The Hindu Business Line
3. NIIF invests $200 million in iBus Network for majority stake
   • What: National Investment and Infrastructure Fund Limited (NIIF) invested USD 200 million (about Rs 1660 crores) in iBus Network And Infrastructure Pvt Ltd(iBUS), a Bengaluru-based Digital Infrastructure Solutions Company.
   • What: To Boost digital infrastructure growth in India, aligning with the Digital India Mission.
   • Investment made through NIIF’s Master Fund.
   • NIIF to hold a significant majority stake in iBUS post-transaction.
   • Funds to develop new infrastructure solutions for evolving market demands and technological advancements.
   • NIIF’s Master Fund, India’s largest infrastructure fund, focuses on investing in high-quality businesses and assets across core infrastructure sectors via operating and greenfield opportunities.
     Source: Money Control
4. ICICI Lombard partners with Policybazaar to ‘democratize’ insurance in India
   • What: ICICI Lombard General Insurance Company Limited partnered with the insurance platform Policybazaar to offer its insurance products.
   • Why: The partnership aims to provide ICICI Lombard’s comprehensive product portfolio to Policybazaar’s wide user base.
     Source: CNBC TV18
5. PhonePe partners with eSewa, HAN Pokhara to promote UPI in Nepal
   • What: Bengaluru-based Fintech company PhonePe partnered with eSewa, a digital wallet service in Nepal, and the Hotel Association of Nepal (HAN)-Pokhara.
   • Why: To Promote digital payments through Unified Payments Interface (UPI) on Nepal payment processor Fonepay Network.
   • Tell me more”
     • Partnership part of 19th Fewa New Year Festival in Nepal from April 11th to 14th, 2024.
     • Fewa New Year Festival celebrates “Tourism, Culture, and Food”, featuring cultural performances, pop shows, and culinary delights on three grand stages.the
       Source: Economic Times

6. IL&FS sells its entire 26% equity stake in NTBCL
   • What: IL&FS has decided to sell its entire 26 per cent equity stake in Noida Toll Bridge Company Ltd (NTBCL), which owns and maintains DND flyover connecting Delhi to Noida.
   • IL&FS has around 26 per cent stake in NTBCL, while the Uttar Pradesh government has 5 per cent stake. The remaining shares in the listed company are with the public.
     Source: Business Standard
7. Edelweiss Alternatives buys L&T infra arm for Rs. 6K crores
   • What: Edelweiss Alternatives announced that it has completed the Rs 6,000 crore (100% ownership) deal to acquire L&T Infrastructure Development Projects (LTIDPL), which owns various road assets and power transmission lines.
     Source: Business Standard

8. Citroën becomes the first multinational carmaker to export EVs from India
   • What: French carmaker Citroën became the first multinational car manufacturer in India to export domestically made electric vehicles to the international market.
     • The company announced the commencement of exports of locally manufactured ë-C3.
   • Why: The move aligned with Citroën’s global ambitions of democratising electric mobility to increase the adoption of sustainable and clean modes of transportation.
     • It aligns with Stellantis’s Dare Forward Mission 2030 to transform the future of mobility

   • Tell me more:
     • Initial shipment of 500 units of the Made-in-India Citroën ë-C3 to Indonesia was ceremonially flagged from Kamarajar Port (Tamil Nadu)
     • In addition to the ë-C3, Citroën also began exporting the C3 to ASEAN and African markets last year.
       Source: Business Standard

9. Swiggy introduced ‘Paw-ternity’ Policy for Pet Parents
   • What: Swiggy launches Swiggy Paw-ternity Policy on April 11th, National Pet Day.
   • Why: Policy designed to support employees who are pet parents, acknowledging their role in caring for pets.
   • Tell me more:
     • The policy revolves around existing gender-neutral parental policy introduced in 2020.
     • Policy includes substantial paid leave for primary and secondary caregivers, bonding leaves, and time off for adoption, surrogacy, miscarriage, and IVF.
     • Expands definition of parenthood to include pet parents, offering comprehensive support to all full-time employees.
       Source: Swiggy

Reports and Indices

1. Global Trade Outlook & Statistics Report
   • What: The World Trade Organisation has published the latest edition of the Global Trade Outlook & Statistics Report.
   • Why: The WTO’s “Global Trade Outlook and Statistics” analyses recent global trade developments up to the fourth quarter of 2023 and presents the organization’s forecasts for world trade in 2024 and 2025.
   • Tell me more:
     • World merchandise trade volume is projected to grow 2.6% in 2024 and 3.3% in 2025, following a larger-than-expected decline of -1.2% in 2023.
     • Import demand in real terms was weak in 2023 in most regions, especially in Europe but also in North America and Asia.
     • The main exceptions were the Middle East and the Commonwealth of Independent States (CIS) region, where imports surged.
     • World real GDP growth slowed from 3.1% in 2022 to 2.7% in 2023.
       • However, it is expected to remain mostly stable over the next two years at 2.6% in 2024 and 2.7% in 2025.
       • The contrast between the steady growth of GDP and the slowdown in merchandise trade volume is linked to inflationary pressures, which had a downward effect on consumption of trade-intensive goods, particularly in major traders.
     • The US dollar value of world merchandise trade fell 5% in 2023 to US$ 24.01 trillion.
       • However,this decline was mostly offset by a strong increase in commercial services trade, which rose 9% to US$ 7.54 trillion.
       • The decline in merchandise exports was partly due to falling prices for commodities, such as oil and gas.
       • Meanwhile, commercial services trade was lifted by recovering international travel and surging digitally delivered services.
     • World trade has been remarkably resilient in recent years despite the presence of several major economic shocks.
       • By the end of 2023, merchandise trade volume was up 6.3% compared to 2019.
       • Commercial services also increased, with annual US$ values up 21% between 2019 and 2023.
     • In 2024 and 2025, inflation is expected to gradually abate.
       • This will allow real incomes to grow again in advanced economies, boosting consumption of manufactured goods.
       • A recovery of demand for tradable goods in 2024 is already evident.
       • This is related to an increase in household consumption linked to improved income prospects.
     • Risks to the forecast are on the downside due to current geopolitical tensions and policy uncertainty.
       • Conflict in the Middle East has diverted sea shipments between Europe and Asia while tensions elsewhere could lead to trade fragmentation.
     • Rising protectionism is another risk that could undermine the recovery of trade in 2024 and 2025.
       Source: WTO

2. QS World University rankings by Subject – 2024
   • What: Quacquarelli Symonds (QS) released the 14th edition of the QS World University Rankings by Subject 2024.
   • Tell me more:
     • Harvard University of United States (US) topped the rankings in four broad subjects.
     • Assessment included 55 individual subjects across five broad areas: Arts & Humanities, Engineering & Technology, Life Sciences & Medicine, Natural Sciences, and Social Sciences & Management.
     • Rankings covered 1,559 institutions with 64 universities debuting in 2024.
     • Music was added as a new subject for the 2024 rankings.

   • Indian Scenario-

• JNU is India’s top-ranked university in various subjects including Geography, History, Modern Languages, Politics, Anthropology, English Language & Literature, and Linguistics.
• Saveetha Institute of Medical and Technical Sciences in Chennai secured the 24th spot globally in Dentistry.
  • It’s the only Indian university to achieve a perfect score (100/100) in the H Index indicator, ranking number one in this metric within the Dentistry table.
• 69 Indian universities were featured in the 2024 QS World University Rankings by Subject, with 424 entries, marking a 19.4% increase from 2023. India became the second most represented country in Asia after China, with 101 institutions on the list. Regionally, India ranked 5th for the number of entries in the top 200 and 6th for the top 100 entries.
• 72% of Indian entries this year showed improvement, maintained positions, or were new to the list, while only 18% experienced a decline, demonstrating a 17% Year-on-Year (Y-o-Y) improvement.
• 12 Institutes of Eminence (IOE) contributed 40% of India’s total entries, with 47 of the top 100 Indian positions and 14 of the 21 positions across 55 academic disciplines and five faculty areas.
• University of Delhi (30 entries), IIT Bombay (28 entries), and IIT Kharagpur (West Bengal) (27 entries) were the most represented Indian universities.
• IIM-Bangalore (Karnataka) and IIM-Calcutta (West Bengal) were among the top 50 globally for business and management studies.
• India experienced a remarkable 54% surge in research output from 2017 to 2022, solidifying its position as a rapidly expanding research center.
  Source: Times of India

3. Financing for Sustainable Development Report 2024 released by United Nations Department of Economic and Social Affairs
   • What: A Report titled “Financing for Development at a Crossroads,” was released by the UN Department of Economic and Social Affairs to address a critical challenge: a lack of funding for achieving the Sustainable Development Goals (SDGs).
   • Why: The report is a wake-up call. It highlights the urgency of closing the financing gap to ensure a sustainable future for all.
   • Tell me more
     • Key Highlights:
       • High Financing Gap: Developing countries face a substantial financing gap, estimated between $2.5 trillion and $4 trillion annually.
       • Finance Divides: Access to long-term and contingency financing is significantly limited for developing countries.
       • Weak Enabling Environment: Policy, regulatory, and tax frameworks are not aligned sufficiently with the Sustainable Development Goals (SDGs).
     • Reasons for Low Financing of SDGs:
       • Rise in Systemic Risks: Events such as the Covid-19 pandemic and increased frequency of disasters have strained national financing frameworks.
       • Slow GDP Growth: Average GDP growth rates in developing countries have fallen to just over 4% annually (between 2021 and 2025)
       • Increased Debt Burden: The median debt service burden for Least Developed Countries (LDCs) rose to 12% in 2023.
       • Other Concerns: Digitization-induced risks and rising geopolitical tensions also contribute to the challenges.

   • Recommendations:
     • Building Tax Capacity:
     • International Development Cooperation:
     • Investment in Data and Statistical Systems:
       Source: UNDESA

Defence News

1. Tri-service Conference ‘Parivartan Chintan’ held in New Delhi
   • What: The Tri-service Conference, named ‘Parivartan Chintan’, took place in New Delhi.
   • Why: It was organized with the aim of fostering brainstorming and idea incubation sessions to generate fresh initiatives, ideas, and reforms that would advance jointness and integration within the Armed Forces.
     Source: PIB

Science and Tech

1. NASA, Japan Advance Space Cooperation, Sign Agreement for Lunar Rover
   • What: NASA and the Japanese government have signed an agreement to advance sustainable human exploration of the Moon.
   • Japan will design, develop, and operate a pressurized rover for crewed and uncrewed exploration on the Moon, whereas NASA will provide the launch and delivery of the rover to the Moon.
     Source: NASA

Agriculture and Rural Development

1. ICAR-IISR’s formulations to improve agri productivity
   • What: The ICAR-Indian Institute of Spices Research (ICAR-IISR), Kozhikode, has developed and validated three new microbial formulations based on granular lime and gypsum to help farmers improve agricultural productivity.
   • ICAR has developed the following 3 new microbial formulations:
     • Bactolime integrates: It contains PGPRs (Plant Growth Promoting Rhizobacteria) with liming material.
       • Bacteria ensure the availability of essential nutrients to plants and help enhance nutrient use efficiency.
     • Bactogypsum: Ameliorates high pH soils and ensures simultaneous delivery of plant-beneficial bacteria.
     • Trichogypsum: Ameliorates high pH soils and ensures delivery of Trichoderma (a fungal biocontrol agent).
       Source: The New Indian Express

Awards

1. Indian-origin actor Avantika Vandanapu recognized as South Asian Person of the Year
   • What: The Indian American actress Avantika Vandanapu was honored as the ‘South Asian Person of the Year’ by the South Asian Association (SAA) at Harvard University, Cambridge, Massachusetts, USA (United States of America).
   • She was recognized for her achievements and significant impact in both the international and Indian entertainment industries.
     Source: Firstpost

Important Days

1. April 11: World Parkinson Day
   • What: World Parkinson’s Day is observed annually on April 11 to raise awareness about Parkinson’s disease, a neurodegenerative disorder that affects millions of people worldwide.
     Source: India Today
2. April 11: National Safe Motherhood Day
   • What: National Safe Motherhood Day is observed on 11 April, in India.
   • This day is dedicated to improving the health and well-being of mothers during pregnancy and childbirth.
     Source: The Quint

Memorandum of Understanding

1. CSIR-IMMT & KABIL team up for critical mineral exploration
   • What: The Council of Scientific and Industrial Research – Institute of Minerals and Materials Technology (CSIR-IMMT) has signed a MoU with Khanij Bidesh India Limited (KABIL) for technical and knowledge cooperation to enhance the exploration of critical minerals in India.
   • The collaboration between CSIR-IMMT and KABIL is expected to create a conducive environment for the exploration of critical minerals, which will, in turn, support the growth and sustainability of the Indian mining industry and eventually play a pivotal role in meeting the country’s mineral security needs, both domestic and export-oriented.
     Source: The Print
2. Tata Motors and Shell partner to deliver superior EV charging experiences across India
   • What: Tata Passenger Electric Mobility (TPEM) and Shell India Markets (SIMPL) have signed a MoU) to collaborate on establishing new public charging stations across India.Tell me more:
     • The collaboration will leverage Shell’s existing network of fuel stations and data from Tata Passenger on how people charge their Tata electric vehicles (EVs).
     • The agreement also includes exploring the development of user-friendly payment systems and loyalty programmes for Tata Passenger’s customers.
       Source: Business Standard

Appointments

1. Ingmar De Vos elected as President of ASOIF
   • What: Belgium’s Ingmar De Vos was elected unanimously as President of the Association of Summer Olympic International Federations (ASOIF)
   • He was elected by secret ballot for a term of four years. He will take up his new position on 1 January 2025.
     Source: Yahoo

2. IFCI MD and CEO Manoj Mittal recommended for the position of CMD, SIDBI
   • What: The Financial Services Institutions Bureau (FSIB) recommended the Managing Director and Chief Executive Officer (CEO) of IFCI (formerly Industrial Finance Corporation of India), Manoj Mittal, for the position of Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI).
   • He will replace Sivasubramanian Ramann, who has been serving as CMD of SIDBI
   • Tell me more:
     • Previously, Mittal worked as a Deputy Managing Director at SIDBI between January 2016 and January 2021. He was closely involved in the development of SIDBI Vision 2.0 and its successful implementation to emerge as a financially stronger impact institution.
       Source: CNBC TV18
3. Sanjay Shukla appointed as MD of NHB
   • What: FSIB has appointed Sanjay Shukla as the MD of the National Housing Bank (NHB),
   • He will succeed Sarada Kumar Hota, who has been serving as MD of NHB since 2019.
     Source: CNBC TV18

4. Justice Aniruddha Bose to Head National Judicial Academy
   • What: After retiring as a Justice of the Supreme Court of India on April 10th, Justice Aniruddha Bose has been appointed as the Director of The National Judicial Academy (NJAC), located in Bhopal.
   • He has been appointed by Chief Justice of India, DY Chandrachud.
     Source: Livelaw

5. 55th UNHRC appoints an expert on human rights and climate change
   • What: Ms. Elisa Morgera from Italy has been appointed as an expert on human rights and climate change.
   • Why: A healthy planet = healthy human rights! Climate change hurts our basic rights to things like food, water, and safety.
     Source: UNHRC

6. Ankur Kumar named CEO of Essar Power’s renewable arm
   • What: Essar Power Ltd. has announced the appointment of Ankur Kumar as the Chief Executive Officer (CEO) of its Renewables Business Divison.
   • He will play a key role in advancing Essar’s commitment to transitioning into Green Energy and establishing a robust renewable ecosystem in India.
     Source: The Hindu

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