1. India invited to attend G7 Hiroshima summit in Japan
Tags: International Relations International News
After a meeting between Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida, Japan was invited to attend the G7 Hiroshima summit.
An Overview of the News
Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida signed two agreements during their bilateral talks: the renewal of the Memorandum of Cooperation in Japanese and the exchange of notes on the JICA loan for 300 billion yen for the Mumbai-Ahmedabad high-speed railway project.
The objective of the meeting is to strengthen India-Japan relations and provide a voice for the Global South.
Foreign Secretary Vinay Mohan Kwatra
About the G7
The G7 is a group of seven major industrialised countries, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
The G7 holds annual meetings to discuss various global issues, but these meetings are usually held in different locations each year.
The 48th G7 summit was hosted by Germany in 2022.
2. IMF approves Sri Lanka’s much-awaited bailout package
Tags: International News
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Sri Lanka's request for a $2.9 billion bailout has been approved by the International Monetary Fund (IMF) on March 20.
An overview of the news
The package of special drawing rights of about $3 billion will be available over 4 years.
The Executive Board's decision will enable immediate disbursement of $333 million.
With the approval of the much awaited bailout, Sri Lanka will restore macroeconomic stability and debt sustainability while carrying forward structural reforms.
Stabilizing Sri Lanka's economy and achieving sustainable debt levels has been a priority since Ranil Wickremesinghe took office last July.
The IMF facility will enable Sri Lanka to access finance from the markets and other lending institutions such as the ADB and the World Bank.
Sri Lanka was hit by an unprecedented financial crisis in 2022 due to a severe shortage of foreign exchange reserves, the worst since its independence from Britain in 1948.
Aim of bailout package
To boost government revenue,
Encourage fiscal consolidation,
Introduce new pricing for fuel and electricity,
Hike social spending,
Bolster central bank autonomy,
Rebuild depleted foreign reserves
To reach a primary surplus of 2.3% of GDP by 2024.
About International Monetary Fund (IMF)
It is an international organization that promotes global economic growth and financial stability, encourages international trade, and reduces poverty.
It was established in 1944 in the aftermath of the Great Depression of the 1930s.
It is an organization of 190 member countries.
It is governed by and accountable to 190 countries.
India became its member in December 1945.
The IMF's resources come mainly from money that countries pay in as their capital subscriptions (quotas) when they become members.
The International Monetary Fund’s executive board comprises 24 members.
Managing Director - Kristalina Georgieva (Bulgaria)
Headquarter (HQ) - Washington, D.C., US
3. Bangladesh commissions its first submarine base
Tags: Defence International News
Prime Minister Sheikh Hasina inaugurated the first submarine base of Bangladesh ‘BNS Sheikh Hasina’ at Pekua in Cox’s Bazar on 20 March.
An overview of the news
This new submarine base will help the Navy to enhance its operational capability to secure the vast maritime resources.
Ships passing through the Bay of Bengal can also take help from this base.
The government of Bangladesh is working on 'Forces Goal 2030' to transform its military force into a modern organization appropriate for the times.
The government established the Bangladesh Navy as a full-fledged three-dimensional force with the induction of two submarines ("BNS Navagatra" and "BNS Joyjatra") into the naval fleet on 12 March 2017.
Bangladesh is building ships at local shipyards for its own use as well as for others.
Bangladesh Navy has completed construction of five patrol vessels at Khulna Shipyard.
In the last 14 years, a total of 31 warships including 4 frigates, 6 corvettes, 4 large patrol craft, 5 patrol craft and 2 training ships joined the Bangladesh fleet.
The Government of Bangladesh signed an agreement with China in September 2019 for the construction of the submarine base.
People’s Republic of Bangladesh
Capital: Dhaka
Prime Minister: Sheikh Hasina Wazed
President: Abdul Hamid
Currency: Taka
4. 4th Defence Cooperation Dialogue between India and Maldives held in Male
Tags: International Relations International News
India and Maldives held the 4th Defense Cooperation Dialogue (DCD) in Male on March 19, 2023.
An overview of the news
The dialogue was co-chaired by Defence Secretary Giridhar Aramane and his Maldivian counterpart, Chief of Defence Force Major General Abdulla Shamaal.
During the talks, the ongoing bilateral defense cooperation activities were reviewed.
The talks covered existing bilateral exercises, with both countries agreeing to increase the complexity of these exercises.
There is bilateral cooperation between the armed forces of India and Maldives in a number of fields, a positive sign for the future of bilateral relations.
About Defense Cooperation Dialogue (DCD)
The Defense Cooperation Dialogue is the highest institutionalized interactive mechanism between the two countries.
The Dialogue is one of India’s policy-level frameworks that aim to strengthen long-standing and mutually beneficial bilateral defence ties.
The first Defense Cooperation Dialogue was held in 2016 and the second in 2019.
Since 1988, defense and security have been a major area of cooperation between India and Maldives.
In 2016, the two countries signed a comprehensive action plan to strengthen defense partnership.
About Maldives
It is also called Maldives Islands, an independent island country in the north-central Indian Ocean.
It extends more than 510 miles (820 km) from north to south and 80 miles (130 km) from east to west.
Basis of economy -fisheries, tourism
Industries - handicraft or cottage including the making of coir (coconut-husk fibre) and coir products, fish canning, and boatbuilding.
Capital -Male
President -Ibrahim Mohamed Solih
Official Language - Dhivehi (Maldivian)
Official Religion - Islam
Currency - Rufiyaa
5. Nepal, India agree to formulate modality to supply electricity to Indian states via Bihar
Tags: International Relations International News
Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.
An overview of the news
The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 in New Delhi.
It was decided in the meeting to work out modalities for export of power from Nepal to various states of India via Bihar within a month.
Kulman Ghising, Executive Director, Nepal Electricity Authority, and Ashok Kumar Rajput, Power System Member, Central Electricity Authority of India, agreed to finalize the modalities within a month.
The agreement has ensured the additional market for the sale of surplus electricity during the rainy season.
Under the power exchange agreement in the meeting, the price of electricity per unit has been fixed at Rs 11.54 for the financial year 2022-23.
Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.
Nepal imports power from India when needed through the Power Exchange Agreement and competition with the Mahakali Treaty.
Power is being imported into Nepal through the Dhalkebar-Muzaffarpur cross-border 400 KV double circuit transmission line and other transmission lines.
The Nepal Electricity Authority has been importing electricity from India’s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement.
Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.
6. Indian Higher Education Meet 2023 inaugurated in Dhaka
Tags: Summits International News
High Commissioner Pranay Verma and Minister of Education of Bangladesh Dr Dipu Moni on 18 March jointly inaugurated the Indian Higher Education Meet 2023 in Dhaka, Bangladesh.
An overview of the news
It is being organized under the aegis of the Study in India program in Dhaka.
Top ranking higher educational institutions from different parts of India participated in the event.
A large number of Indian students are pursuing higher education in each other's country.
The Indian High Commissioner invited Bangladeshi students to take advantage of India's globally prestigious higher education system and build new bridges of friendship and understanding between the youth of the two countries.
Bangladesh Education Minister Dr. Deepu Moni recognized the important role of education in promoting better understanding between India and Bangladesh and thanked Study in India for taking the initiative to organize the event in Dhaka.
Study in India programme
It is a flagship project launched by the Ministry of Education, Government of India in 2018.
Its main goal is to increase the number of international students in the country and improve the global reputation and ranking of Indian educational institutions.
The programme provides meritorious foreign students fee waiver and scholarship.
The program is designed to encourage and invite the global student community to pursue their higher education in India.
Since its inception, the Study in India program has attracted students from over 150 countries, including Bangladesh.
7. International Criminal Court issues arrest warrant against Vladimir Putin for war crimes in Ukraine
Tags: International News
The International Criminal Court on 17 March issued an arrest warrant against Russian President Vladimir Putin on charges of war crimes.
An overview of the news
The move mandates 123 member states to arrest Putin and transfer him to The Hague for trial if he steps onto their territory.
It was immediately rejected by Moscow while Ukraine on the other hand welcomed the decision.
Why did the International Criminal Court issue the warrants?
The International Criminal Court says Putin committed war crimes in Ukraine.
He is responsible for the crime of kidnapping and deportation of Ukrainian children.
According to the court, these crimes were allegedly committed from 24 February 2022 on Ukrainian-occupied territory.
The court also issued a warrant for Maria Lvova-Belova, Russia’s commissioner for children’s rights.
International Criminal Court (ICC)
It was set up in July 2002 under the Rome treaty of 1998.
It is the only permanent court to prosecute persons for crimes against humanity, genocide, war crimes and crimes of agression.
At present 123 countries are its members. The United States, China, and Israel are not its members.
The court's jurisdiction extends to offences that occurred after July 1, 2002, that were committed either in a state that has ratified the agreement or by a national of such a state or the case which was referred to it by the United Nations Security Council.
The Headquarters of ICC: The Hague, Netherlands
ICC is different from the International Court of Justice (ICJ).
ICJ is a United Nations court which hears disputes involving the member states of the United Nations.
8. Ram Sahaya Prasad Yadav elected Nepal's third Vice President
Tags: Person in news International News
Ram Sahai Prasad Yadav has been elected as the third Vice President of Nepal and is the leader of the Janata Samajwadi Party.
An Overview of the News
In the voting, Yadav defeated Astalakshmi Shakya of CPN (UML) and Mamta Jha of Janmat Party.
Yadav received support from the ruling coalition, including the Nepali Congress, CPN (Maoist Centre), and CPN (Unified Socialist).
A total of 311 federal MPs and 518 provincial assembly members participated in the vote.
The polling station for the election was located in the Federal Parliament Building at New Baneshwar in Kathmandu.
According to the Constitution of Nepal, the Vice President can perform the duties of the President during the absence of the President.
The term of the Vice President is five years from the date of his election.
Yadav was a former Minister of Forest and Environment and a member of Nepal's first federal parliament.
About Nepal
The kingdom of Nepal was established by the Shah dynasty.
It is a landlocked country in South Asia.
President - Ram Chandra Paudel
Prime Minister - Pushpa Kamal Dahal
Capital - Kathmandu
Currency - Nepalese Rupee
9. India-Bangladesh Friendship Pipeline to be jointly inaugurated by PM Modi and Sheikh Hasina
Tags: International News
Indian Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina will inaugurate the India-Bangladesh Friendship Pipeline through video conference on March 18, 2023.
An Overview of the News
The India-Bangladesh Friendship Pipeline is a proposed 130 km long pipeline for high-speed diesel transport from Siliguri in India to Parbatipur in Bangladesh.
Maitri Pipeline is the first cross-border energy pipeline between India and Bangladesh with an estimated cost of Rs 377 crore.
The pipeline has a capacity to transport 1 million metric tonnes per annum (MMTPA) of high-speed diesel (HSD), and will be constructed by India's Numaligarh Refinery Limited (NRL) at an estimated cost of USD 1.6 billion.
Initially, the pipeline will supply high-speed diesel to seven districts in northern Bangladesh.
The operationalization of the India-Bangladesh Friendship Pipeline will provide a sustainable, reliable, cost-effective and environment-friendly mode of HSD transportation from India to Bangladesh.
The pipeline will enhance cooperation in energy security between India and Bangladesh.
This is part of the Memorandum of Understanding (MoU) signed between India and Bangladesh in April 2017 to strengthen cooperation in the energy sector.
The pipeline will help Bangladesh meet its growing energy demand and reduce its dependence on imported fuel, while providing an opportunity for India to expand its energy exports to neighbouring countries.
About Bangladesh
Prime Minister - Sheikh Hasina
Currency - Bangladeshi Taka
Capital - Dhaka
10. The US Senate appointed of Eric Garcetti as the United States Ambassador to India
Tags: Person in news International News
Eric Garcetti has been confirmed by the US Senate as the new ambassador to New Delhi, chosen by President Joe Biden for the role.
An Overview of the News
Garcetti was supported by a majority of Senators, with 52 in favour and 42 against.
Seven Republican Senators joined the Democrats in backing Garcetti for the role.
Eric Garcetti served as the mayor of Los Angeles, California in the past..
He is the first LA mayor in more than 50 years to be nominated for a diplomatic position.
About the US Senate
The US Senate is one of the two chambers of the US Congress.
It has 100 senators, each state is represented by two senators, who serve for six-year terms.
The Senate has significant powers, including the ability to approve presidential nominations and treaties, and to serve as a court for impeachment proceedings.
The Vice President of America is the leader of the Senate, but votes only in case of a tie.
