1. Japan to provide USD 1.24 billion line of credit to Bangladesh for road, railway and port projects
Tags: Economy/Finance International News
Japan will provide an Official Development Assistance (ODA) loan of USD 1.24 billion to Bangladesh for infrastructure and connectivity projects and the second tranche of the 43rd Japanese Yen loan package was signed at the exchange of notes between the two countries.
An Overview of the News
The loan package includes three projects: Chattogram-Cox's Bazar Highway Improvement Project, construction of a dual gauge rail line between Joydebpur-Eshwardi section, and Matarbari Port Development Project, Phase 2.
The first tranche of loan was almost the same amount, making the total package around US$ 2.48 billion.
Japan has been the largest bilateral donor to Bangladesh since 2012, assisting various mega-infrastructure projects.
About Official Development Assistance (ODA)
It is financial aid provided by developed countries to developing countries to support economic growth and reduce poverty.
It can be given in the form of grants or loans, and is provided by governments, international organisations and non-governmental organisations.
It can be used for a variety of purposes, including building infrastructure, promoting economic development, and providing emergency relief.
The Organization for Economic Co-operation and Development (OECD) monitors and reports on ODA flows between its member countries.
ODA is important for supporting economic growth and reducing poverty in developing countries.
About Japan
Prime Minister- Fumio Kishida
Capital- Tokyo
Currency - Yen
Ambassador- Iwama Kiminori
About Bangladesh
Prime Minister- Sheikh Hasina
Bangladesh currency - Bangladeshi taka
Capital- Dhaka.
2. Saudi Arabia's cabinet approves joining Shanghai Cooperation Organization as a dialogue partner
Tags: International News
On March 29, 2023, Saudi Arabia agreed to join the Shanghai Cooperation Organization as a dialogue partner. The cabinet approved the decision in a meeting chaired by King Salman bin Abdul Aziz.
An Overview of the News
As a dialogue partner, Saudi Arabia will participate in SCO meetings and activities, but will not be a full member of the organisation. This status allows increased cooperation between Saudi Arabia and SCO members on issues such as security, economic development and cultural exchange.
The decision to join the SCO has been taken by Saudi Arabia to diversify its economy and reduce dependence on oil exports. The country has announced several initiatives aimed at boosting economic growth and attracting foreign investment, including its Vision 2030 plan.
King Salman bin Abdulaziz Al Saud has been a strong advocate of increasing Saudi Arabia's relations with other countries. During his reign, he has worked to strengthen ties with countries in Asia, Europe, and Africa, with a focus on promoting economic development and cultural exchange.
About Shanghai Cooperation Organization (SCO)
It is a regional intergovernmental organisation established in 2001.
The organisation consists of eight member states, including China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, India, and Pakistan.
The primary objective of the SCO is to promote regional cooperation among its members in various fields such as security, economy, culture and education.
The main objective of the SCO is to enhance regional security through joint efforts to combat terrorism, separatism, extremism, drug trafficking and transnational organised crime.
The SCO holds annual summits and meetings of heads of state, as well as regular meetings of its various working groups and committees.
3. First G20 Disaster Risk Reduction Working Group meeting begins in Gujarat
Tags: Summits National News
The first G20 Disaster Risk Reduction Working Group meeting was held under India's G20 chairmanship in Gandhinagar, Gujarat, India from 30 March.
An Overview of the News
The meeting was inaugurated by Dr PK Mishra, Principal Secretary to the Prime Minister and Devsingh Chauhan, Minister of State for Communications.
Five priority areas have been identified for the meeting, including an early warning system for all, resilient infrastructure and reform of the national system for financing disaster risk reduction.
The meeting serves as a call to the global community to come together and work towards a stronger future against the devastation caused by disasters.
Around 100 delegates from G20 member states, invited countries and nine international organisations participated in the three-day event.
Two side programs have been planned on "Early Warning System" and "Disaster Resilient Infrastructure".
The event also provides an opportunity to the delegates to experience the cultural heritage of Gujarat.
About the G20
It is an international forum of the world's leading economies established in 1999.
Its primary objective is to promote international financial stability and sustainable economic growth.
The G20 serves as a forum to discuss and coordinate policies related to a wide range of economic and financial issues such as trade, investment, employment, energy and climate change.
Member Secretary of National Disaster Management Authority - Kamal Kishore
4. Launch of 'Captive Employment' initiative under Deen Dayal Upadhyaya Kaushalya Yojana
Tags: Government Schemes National News
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Union Minister for Rural Development Giriraj Singh initiates ‘Captive Employment’ initiative under Deen Dayal Upadhyaya Kaushalya Yojana (DDU-GKY) on 28 March.
An overview of the news
19 captive employers have been included in the unique initiative.
19 captive employers signed MoU with the Ministry of Rural Development to train and place over 31,000 rural youth in subsidiary companies under the DDU-GKY scheme.
Captive employers will train rural poor youth and provide employment to the trained youth in their company or subsidiary.
10 candidates being trained under the DDU-GKY program and undergoing on-the-job training were handed over the appointment letters during the event.
Two candidates were awarded with appreciation letters for their performance during their current tenure of employment.
About Captive Employment
It aims to create a dynamic and demand-driven skilling ecosystem that caters to the needs of industry partners ensuring sustainable placements for rural poor youth.
The initiative is an initiative for the DDU-GKY scheme, which assures placement after training the candidates for at least six months with a minimum CTC of Rs 10,000.
Captive Employer
A captive employer is any employer or industry which offers employment to candidates in its own company or its subsidiaries and provides suitable in-house training facilities.
Deen Dayal Upadhyaya Kaushalya Yojana
DDU-GKY is a placement linked skilling program of the Ministry of Rural Development under the aegis of National Rural Livelihoods Mission (NRLM).
It was launched on 25 September 2014.
It is funded by the Ministry of Rural Development (MoRG), Government of India.
The scheme is currently being implemented in 27 States and 4 Union Territories with emphasis on placement for rural poor youth.
Under this, demand based skill training is provided to rural poor youth in the age group of 15 to 35 years.
The upper age limit for female candidates is 45 years.
It is mandatory that one-third of the total candidates to be trained under this scheme should be women.
The emphasis is on career progression rather than just training.
5. Central government abolishes basic customs duty on treatment of rare diseases
Tags: National News
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The central government on March 30 exempted basic customs duty on all drugs and food for special medical purposes imported for personal use for treatment of rare diseases.
An overview of the news
The import duty exemption will be applicable from April 1, 2023.
The exempted drugs and food items are listed under the National Rare Disease Policy 2021.
To avail this exemption, the individual importer has to submit a certificate from the Central or State Director Health Services or Civil Surgeon of the district.
The government has fully exempted pembrolizumab (Keytruda), used in the treatment of various cancers, from basic customs duty.
Medicines generally attract a basic customs duty of 10 per cent, while certain categories of life saving drugs/vaccines attract a concessional rate of 5 per cent or nil.
What are Rare Diseases?
The World Health Organization (WHO) defines a rare disease as one with a frequency of less than 6.5–10 per 10,000 people.
According to one estimate, there are 7,000 known rare diseases with an estimated 300 million patients in the world.
About 95% of these patients have no approved treatment and less than 1 in 10 patients receive disease-specific treatment.
6. Government identified 1275 railway stations under Amrit Bharat Station Scheme
Tags: Government Schemes National News
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The government has identified 1275 railway stations under the Amrit Bharat Station Scheme for the development of railway stations in India.
An overview of the news
Railway Minister Ashwini Vaishnav gave this information in a written reply to a question in the Lok Sabha on March 29.
The scheme envisages development of stations on a sustained basis with a long term approach.
Amrit Bharat Station Scheme
Amrit Bharat Station Scheme was introduced by the Ministry of Railways in December 2022
The objective of the scheme is to prepare a master plan for railway stations and implement the master plan in a phased manner to enhance facilities.
Facilities Planned under this Scheme
Provision for creation of Roof Plaza in future
Free Wi-Fi, 5G Mobile Tower
Widening of roads, removal of unwanted structures, properly designed signage, dedicated walkways, well planned parking areas, access to better lighting etc.
High level platforms at all stations with a length of 600 meters
Special facilities for the disabled.
7. New India Literacy Program
Tags: Government Schemes National News
The government has recently launched a new centrally sponsored scheme named 'New India Literacy Programme' with a financial outlay of over Rs 1000 crore for implementation during the financial years 2022-23 to 2026-27.
An overview of the news
The scheme aims to cover five crore illiterates in the age group of 15 years and above.
Beneficiaries under this scheme are identified through door to door survey on mobile app by the surveyors in the States and Union Territories.
Illiterate can also avail the benefits of the scheme through direct registration from any place through mobile app.
About New India Literacy Program
The program has been launched for the period FY 2022-2027 to align with the National Education Policy 2020 and cover all aspects of adult education.
The scheme has been approved with a financial outlay of Rs 1037.90 crore, which includes central share of Rs 700.00 crore and state share of Rs 337.90 crore.
The center and state share for all states is in the ratio of 60:40 while for North Eastern Region (NER) and Himalayan states the share between center and state is in the ratio of 90:10.
The scheme will cover non-literates in the age group of 15 years and above in all the States/UTs of the country.
It aims to cover 1 crore learners per year (total target of 5 crore) using "Online Teaching, Learning and Assessment System (OTLAS)" in collaboration with National Informatics Centre, NCERT and NIOS.
Five components of the scheme
Foundational Literacy and Numeracy
Critical Life Skills
Vocational Skills Development
Basic Education
Continuing Education
Objectives of the Scheme
To impart basic literacy and numeracy.
Promoting important life skills such as financial literacy, digital literacy, commercial skills, health care and awareness, child care and education and family welfare.
8. Competition (Amendment) Bill 2022 passed by Lok Sabha
Tags: National National News
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On March 29, 2023, the Lok Sabha passed the Competition (Amendment) Bill, 2022. The Bill aims to reduce the time limit for CCI to pass orders on such transactions from 210 days to 150 days.
An Overview of the News
The Bill proposes a framework for settlement and commitment to more quickly resolve investigations into anti-competitive agreements and abuse of dominant position.
Certain offences under the Competition Act, such as failure to comply with CCI orders and directions of the Director General relating to anti-competitive agreements and abuse of dominant position, will be decriminalised under the Bill. The nature of punishment for these offences will change from fine to civil punishment.
The Competition (Amendment) Bill 2022 was introduced in the Lok Sabha in August 2022 and was referred to the Standing Committee in the same month. The Standing Committee submitted its report in December 2022.
About Competition Act of 2002
It is a law enacted by the Parliament of India to promote fair competition and prevent anti-competitive practices in the Indian market.
It aims to create a level playing field for businesses, protect the interests of consumers and encourage innovation and efficiency.
The Act establishes the Competition Commission of India (CCI) as the primary regulatory body to enforce competition laws and prevent abuse of dominant positions by companies.
The CCI has the power to investigate and impose penalties on companies found to be indulging in anti-competitive practices such as price-fixing, bid-rigging, and abuse of dominant market positions.
9. Conservation Plan for Great Indian Bustards
Tags: Government Schemes National News
The ministry of Environment, Forest and Climate Change is taking various measures for conservation and protection of Great Indian Bustard in the country, including in Rajasthan.
Important steps taken by the Ministry
The Great Indian Bustard is listed in Schedule-I of the Wild Life (Protection) Act, 1972. Highest degree of legal protection from hunting.
Important habitats of Great Indian Bustards have been designated as National Parks/Sanctuaries for their better protection.
This species has been identified for conservation efforts under the centrally sponsored scheme 'Species Recovery Programme'.
Breeding conservation of the Great Indian Bustard has been done in collaboration with the Rajasthan, Gujarat and Maharashtra Forest Departments.
Sites have been identified for setting up conservation breeding centers for Great Indian Bustard and Lesser Florican birds in consultation with the Wildlife Institute of India and international experts.
A satellite conservation breeding facility has been established at SAM, Jaisalmer, Rajasthan.
About Great Indian Bustard
It is considered India's most critically endangered bird species and is especially found in Rajasthan and Gujarat.
It is one of the heaviest flying birds endemic to the Indian subcontinent.
It is the state bird of Rajasthan.
These birds are on the verge of extinction, with barely 50 to 249 surviving, according to a 2021 report by the International Union for Conservation of Nature (IUCN).
It is a large bird with brown-and-white feathers with black crown and wing markings. It is one of the heaviest birds in the world.
Its habitat is Arid grasslands.
IUCN Status - Critically Endangered.
Listed in Wildlife Protection Act’s Schedule 1.
The cause of the decline in numbers is Hunting, Intensification of agriculture, Power lines.
10. Axis Bank launches 'Micropay' on 'PIN on Mobile' technology
Tags: Economy/Finance National News
Axis Bank launched a groundbreaking payment solution called "Micropay" by Razorpay and MyPinpad in association with technology partners Ezetap.
An Overview of the News
Micropay is a "Pin on mobile" solution that enables a merchant's smartphone to act as a Point-of-Sale (POS) terminal, providing a unique customer experience and simplifying digital payments.
This solution has the potential to revolutionise digital payments in India, especially in Tier-2 and Tier-3 cities where retail and grocery stores often have limited working capital and need cost-effective payment options.
The launch of Micropay by Axis Bank is expected to have a significant impact on small businesses, making digital payments more accessible and cheaper.
About 'Micropay' and 'PIN on Mobile' technology
The new Pin on mobile technology offers merchants an affordable way to accept payments through cards, UPI and BAR codes while maintaining high security standards.
Pin on mobile technology is a small, low-cost card reader that connects via Bluetooth to a merchant's smartphone.
Customers can enter their Pin directly on the merchant's device, in compliance with PCI standards for software-based Pin entry on COTS phones, ensuring the security of the Pin.
Harshil Mathur, CEO of Razorpay
Beas Nambisan, CEO of Ezetap
