National Affairs
2. India to introduce “made in India” skin test for TB
- Union Health Minister Mansukh Mandaviya has announced to launch of a newly approved skin test for tuberculosis (TB) diagnosis called c-TB in the country while addressing the 35th board meeting of the Stop TB Partnership through video-conferencing.
- This TB Kit will be cost-effective and provide immense benefit to other high burden countries as well.
- He also announced to launch of a new initiative “Adopt people with TB”.
- World TB Day: 24 March
Banking & Finance
3. S&P cuts India growth forecast for FY23 to 7.3%
- S&P Global Ratings cut India’s GDP projection for the current fiscal to 7.3% from 7.8% on rising inflation and the Russia-Ukraine conflict.
- S&P Global Ratings suggestions: Central banks to raise rates more than what was currently priced in, risking a harder landing which includes a larger hit to output and employment.
- World Bank: 8%
- International Monetary Fund: 8.2%
- Asian Development Bank: 7.5%
- Reserve Bank of India: 7.2%
Summits & Conferences
4. Nirmala Sitharaman chaired 7th Annual Meeting of Board of Governors of NDB
- Finance Minister, Nirmala Sitharamana has chaired the 7th Annual Meeting of Board of Governors of NDB through video-conferencing in New Delhi.
- Theme 2022: “NDB: Optimising Development Impact”.
- FM Sitharamana has mentioned that India’s economic growth in the current financial year has been robust and is estimated to be 8.9%.
- Attended by: Brazil, China, Russia, South Africa and the newly joined members Bangladesh and UAE.
Agreement
5. GeM signs MoU with SEWA to boost Women-led Enterprises
- Government eMarketplace (GeM) and Self-Employed Women’s Association (SEWA) have signed an MoU for the advocacy, outreach, mobilization and capacity-building of last-mile women-led enterprises.
- The MoU was signed by the Chief Executive Officer of GeM P. K. Singh and Vice-President of SEWA Rehana Riyawala.
- GeM will train SEWA members to assist and enable women-led small enterprises with GeM processes related to seller registration and onboarding on the platform.
International Affairs
6. G7 countries approves to provide financial support to Ukraine
- Group of Seven (G7) countries have agreed to provide financial support to Ukraine to meet its immediate financing needs.
- The US Senate has approved a USD 40 billion package of military, economic and humanitarian assistance to Ukraine.
- Christian Lindner (German Finance Minister) has announced a contribution of USD 1.1 billion to Ukraine's budget.
- The European Commission has pledged up to USD 9.5 billion of macro-financial assistance in the form of loans.
Summits & Conferences
7. PM Modi to participate in Quad Summit in Tokyo
- PM Narendra Modi will participate in the Quad Leaders' Summit in Tokyo held on the 24th of May at the invitation of Japanese Prime Minister Fumio Kishida.
- The summit will be attended by US President Joe Biden, Australian Prime Minister Scott Morrison, and Japanese Prime Minister Fumio Kishida.
- During this meet, PM Modi will also review the India- Australia Comprehensive Strategic Partnership with Mr Morrison and exchange views on global and regional developments.
Banking & Finance
8. RBI directs banks to provide a cardless cash withdrawal facility
- Reserve Bank of India (RBI) has directed banks and ATM operators to provide cardless cash withdrawal facilities at all ATMs.
- All banks, automated teller machine (ATM) networks, and White Label ATM Operators (WLAOs) may provide the option of ICCW at their ATMs.
- The National Payments Corporation of India (NPCI) has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.
Agreement
9. Assam Rifles, Axis Bank and NIEDO ink MoU to establish Centre of Excellence
- Assam Rifles inked a Tripartite MoU with Axis Bank and National Integrity and Educational Development Organisation (NIEDO) to establish a Centre of Excellence and Wellness to secure a better future for the youth of Nagaland.
- The centre named after Late Capt N Kenguruse MVC Centre of Excellence and Wellness will be located at Chieswema in Kohima district.
- Free residential coaching will be provided to 30 children from economically weaker sections of Nagaland.
Defense
10. HANSA-NG Aircraft successfully completed Engine Relight test in Air
- HANSA-NG (flying trainer Aircraft) has successfully completed an in-flight engine relight test at DRDO’s Aeronautical Test Range (ATR) facility, Challakere, Karnataka.
- The aircraft was designed & Developed by CSIR-National Aerospace Laboratories (CSIR-NAL).
- The flight test was carried out at an altitude of 7000-8000 feet with a speed range of 60 to 70 knots by Wg Cdr K V Prakash and Wg Cdr NDS Reddy.
Banking & Finance
11. NEFT, RTGS facility available for post office savings account holder
- According to a Department of Post circular, the NEFT facility has been made available for Post Office Savings Accounts holders from May 18, 2022, and RTGS facility will be available from May 31, 2022.
- This facility enables POSB customers to transfer funds to and from other bank accounts to POSB Accounts in DoP-CBS (DoP-CBS stands for Department of Posts - Core Banking Solutions).
Banking & Finance
12. SC orders constitution of 25 special courts for cheque bounce cases
- The Supreme Court has ordered to constitute 25 special courts with a retired judge in five states for expeditious disposal of cheque bounce cases.
- The special courts under the Negotiable Instruments Act will be set up in Maharashtra, Delhi, Gujarat, Uttar Pradesh and Rajasthan in view of a large number of pending cases.
- The special courts shall follow the same procedure with respect to trial as mandated by the Criminal Procedure Code, 1973.
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