National NEWS
Indian Gem & Jewellery Sector Achieves AEO Status:
- The Gem & Jewellery Export Promotion Council (GJEPC) secures Authorized Economic Operator (AEO) status for the Indian gem and jewellery sector, granted by the Ministry of Finance.
- AEO status streamlines export-import procedures, reduces cargo release times, and slashes bank guarantees by 50%, aiming to improve the ease of doing business.
- GJEPC’s persistent advocacy efforts lead to the inclusion of the gem and jewellery industry in the AEO program after initial exclusion.
- The achievement marks a significant milestone for India’s Gem and Jewellery (GJ) industry, enhancing its competitiveness and facilitating smoother trade operations.
SCO Defence Ministers’ Meeting Endorses ‘One Earth, One Family, One Future’:
- Defence Secretary Shri Giridhar Aramane participates in the SCO Defence Ministers’ meeting in Astana, Kazakhstan.
- A protocol signed by Defence Ministers of all SCO Member States emphasizes the concept of ‘One Earth, One Family, One Future’ inspired by the Indian philosophy of ‘Vasudhaiva Kutumbakam’.
- India reaffirms its commitment to peace, stability, and security in the SCO region, advocating a zero-tolerance approach towards terrorism.
- Defence Secretary highlights India’s proposal for a Comprehensive Convention on International Terrorism at the UN and the ‘Security and Growth for All in the Region (SAGAR)’ initiative for the Indo-Pacific.
Adani’s Vizhinjam Port Approved as India’s First Transhipment Hub:
- Indian government approves Adani’s Vizhinjam Port in Kerala to operate as the nation’s inaugural transhipment hub, aiming to reduce reliance on foreign ports.
- Designation allows for the transfer of cargo from large vessels to smaller ones, aligning with India’s ambition to become a manufacturing hub.
- Currently, a significant portion of India’s transhipment cargo is handled by foreign ports like those in Colombo and Singapore.
- Ministry’s approval enables the establishment of customs facilities at Vizhinjam Port, streamlining transhipment operations and bolstering India’s maritime sector.
Economy NEWS
NIPFP Projects India’s FY25 GDP Growth at 7.1%:
- Economic think-tank NIPFP estimates India’s GDP growth for the current fiscal year (FY25) at 7.1% using high-frequency models.
- NIPFP highlights the Centre’s fiscal consolidation path, driven by buoyancy in taxes and compression of revenue expenditure.
- In 2023-24, states’ capital expenditure (capex) growth is reported as robust, attributed to significant capex transfers from the Centre.
Banking NEWS
RBI Guidelines for SFBs Eyeing Universal Bank Licence:
- Small Finance Banks (SFBs) seeking a universal bank licence must maintain profitability and keep their gross non-performing assets ratio below 3% for at least two financial years before applying.
- SFBs must have a minimum net worth of ₹1,000 crore at the end of a quarter, along with a capital adequacy requirement of 15% to be eligible for a licence.
- They are required to demonstrate satisfactory performance for a minimum period of five years.
- These guidelines set standards for SFBs aspiring to transition into universal banks, emphasizing financial stability, profitability, and asset quality.
RBI:
- Founded: 1 April 1935,
- Headquarters: Mumbai
- Governor: Shaktikanta Das
Books and Author
EAM Jaishankar Presented with ‘India’s Nuclear Titans’ Book:
- External Affairs Minister S. Jaishankar received a copy of the book ‘India’s Nuclear Titans,’ edited by Soumya Awasthi and Shrabana Barua.
- The book delves into India’s evolution as a nuclear state, highlighting the contributions of key figures such as Homi Bhabha, Vikram Sarabhai, Abdul Kalam, and K. Subrahmanyam.
- Jaishankar stressed the importance of recognizing the pivotal roles played by these figures in shaping India’s nuclear program, emphasizing the need for future generations to acknowledge their contributions.
- ‘India’s Nuclear Titans’ aims to provide a concise yet comprehensive overview of India’s nuclear journey, offering insights into its historical and strategic significance.
Sports NEWS
Sana Mir and Yuvraj Singh Named Ambassadors for ICC T20 World Cups:
- Pakistan cricket legend Sana Mir appointed ambassador for ICC Women’s T20 World Cup Qualifier, bringing her extensive experience to the event.
- The Qualifier will feature 10 teams vying for two spots at the ICC Women’s T20 World Cup 2024 in Bangladesh.
- Indian cricket icon Yuvraj Singh named ambassador for ICC Men’s T20 World Cup 2024, marking the 36-day countdown to the global event.
- Singh’s selection commemorates his historic achievement of hitting six sixes in an over during India’s victory at the inaugural T20 World Cup in 2007.
Indian Archers Shine at Archery World Cup in Shanghai:
- Indian women’s team, comprising Jyothi Surekha Vennam, Aditi Gopichand Swami, and Parneet Kaur, clinched gold in the women’s final by defeating Italy 236-225 with a dominant performance.
- The Indian team showcased exceptional skill, dropping only four points throughout the match.
- Jyothi Surekha Vennam and Abhishek Verma added another gold to India’s tally by winning the compound mixed team gold final, triumphing over Estonia 158-157.
- The men’s team, including Abhishek Verma, Priyansh, and Prathamesh Fuge, secured gold in their final against the Netherlands with a score of 238-231.
- Priyansh and Vennam are set to compete in the individual semi-finals in their respective categories later in the day, further highlighting India’s strong presence in the tournament.
Important Days
Observing World Day for Safety and Health at Work:
- April 28th marks the annual international campaign dedicated to promoting safe and healthy working conditions for all workers.
- The day aims to raise awareness about occupational safety and health and to honor those affected by work-related accidents or diseases.
- This year’s theme underscores the crucial role of veterinarians as essential health workers, highlighting their contributions to public health and animal welfare.
- World Veterinary Day, celebrated on April 27, 2024, focuses on recognizing veterinarians’ importance in safeguarding both human and animal health.
