1. India and Romania sign agreement for 'Practical Cooperation between Armed Forces'
Tags: International News
India and Romania signed a defence agreement during a meeting between Romania's Deputy Defense Minister Simona Cojocaru and India's Defense Secretary Giridhar Aramane in New Delhi.
An Overview of the News
This agreement is the first defence cooperation agreement between the two countries and is a practical cooperation between the armed forces of India and Romania.
The defence pact represents the basis for the establishment and expansion of military relations between the two countries. It will provide more opportunities to work together in various fields such as military education, training, cyber defence, military medicine, military history and other areas that can benefit both the countries.
Representatives from the Romanian Institute for Political Studies of Defense and Military History are part of the delegation accompanying Cojocaru, and they are set to collaborate with the Indian Manohar Parrikar Institute for Defense Studies and Analyses.
Romania and India have worked together in multinational environments such as UN missions, and both countries are making important contributions to enhancing stability and strengthening peace and security in regions marked by the horrors of war.
About Romania
It is located in southeastern Europe, bordering Hungary, Ukraine, Moldova, Bulgaria, and the Black Sea.
Its rich history includes influences from the Roman Empire, the Ottoman Empire and the Soviet Union. It gained independence in 1877 and became a republic in 1947 after World War II.
Most Romanians are Orthodox Christians, but there are also populations of Catholics, Protestants and Muslims.
The economy is mixed with manufacturing, agriculture and services as its main industries.
President - Klaus Iohannis
Capital - Bucharest
Official languages - Romanian, Romanian Sign Language
Government - republic, unitary state, parliamentary republic, semi-presidential system
Continent - Europe
Currency - Romanian leu
2. OPEC members announce cut in oil production exceeding one million barrels per day from next month
Tags: International News
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On April 2, Saudi Arabia and other OPEC Plus members announced that they would further reduce oil production amounting to around 1.16 million barrels per day.
An overview of the news
The move is aimed at bringing stability to the market.
The announcement was made at a virtual meeting of the OPEC Plus ministerial panel.
The unexpected cuts announced by Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Algeria and Oman will begin in May and last until the end of the year.
This would be the biggest reduction since oil producers cut two million barrels per day in October 2022.
The move follows a drop in oil prices last month (down to $70 a barrel) and concerns that the global banking crisis could hit demand.
Production cuts announced by OPEC Plus members, as per their official statements-
Russia - 500,000 bpd
Saudi Arabia -500,000 bpd
UAE - 144,000 bpd
Kuwait - 128,000 bpd
Kazakhstan - 78,000 bpd
Algeria - 48,000 bpd
Oman - 40,000 bpd
About OPEC
The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organisation that was established in 1960 at the Baghdad Conference by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
The purpose of this organisation is to coordinate and integrate the petroleum policies of its member countries and to ensure the stabilisation of oil markets to ensure efficient, economic and regular supply of petroleum to the consumer.
Headquarters - Vienna (Austria).
Member Countries (15)- Algeria, Angola, Congo, Ecuador, Equatorial Guinea, Gabon, IR Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela.
OPEC plus
It is a coalition of OPEC members and the world's 10 major non-OPEC oil exporting countries.
Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan and Sudan.
3. India, Malaysia can now trade in Indian rupee
Tags: Economy/Finance International News
The Ministry of External Affairs announced on 1 April that India and Malaysia have agreed to settle trade in the Indian rupee.
An overview of the news
In July 2022, the Reserve Bank of India (RBI) allowed settlement of international trade in Indian currency.
This step has been taken only after this decision of the RBI.
According to the Ministry of External Affairs,trade between India and Malaysia can now be settled in Indian Rupee (INR) in addition to the existing methods of settlement in other currencies.
The RBI initiative is aimed at facilitating trade growth and supporting the interests of the global trading community in the Indian Rupee.
Kuala Lumpur-based India International Bank of Malaysia (IIBM) has introduced this system in India by opening a special Rupee Vostro account through Union Bank of India.
Vostro accounts are used to make payments in domestic currency.
What is a Vostro Account?
Vostro is a Latin word meaning "your", hence, Vostro Account means "your account".
Vostro account is defined as an account maintained by a correspondent bank on behalf of another bank.
For example HSBC's Vostro account is being handled by SBI in India.
A Vostro account is established to enable a foreign correspondent bank to act as an agent or provide services as an intermediary for a domestic bank.
About Malaysia
Prime Minister - Anwar Ibrahim
Capital - Kuala Lumpur
Currency - Malaysian ringgit
Official Language - Malay
Official Religion - Islam
4. PM Modi invited to France for Bastille Day parade
Tags: International News
France has invited Prime Minister Narendra Modi to visit Paris as a guest at the annual Bastille Day parade in July.
About Bastille Day Parade
The National Day of France, also known as Bastille Day, is celebrated every year on 14 July.
Known in French as La Fête Nationale or Le 14 Juillet, the day is celebrated with fireworks and parades.
This day is considered as one of the most important days in the history of France.
It marks the fall of the Bastille, a military fortress and political prison, which was then considered a symbol of the monarchy and the Armory.
About Bastille Day Parade
The Bastille Day military parade is a French military parade held on the morning of 14 July each year in Paris since 1880.
It is one of the oldest regular military parades in the world.
The fall of the Bastille on July 14, 1789 is widely regarded as the beginning of the French Revolution.
The Bastille was a fortress prison located in the heart of Paris, which became a symbol of royal tyranny and oppression.
5. MOIL Limited records 2nd highest Production since inception in FY’23
Tags: Economy/Finance National News
MOIL Limited has registered its second highest production since inception with production of 13.02 lakh tonnes of manganese (Mn) ore in the financial year 2022-23, registering a growth of 6% over the previous year.
An overview of the news
The company has also achieved a capital expenditure of Rs 245 crore in FY23, which is 14% higher than FY2021-22.
MOIL has achieved the best ever exploratory core drilling of 41,762 meters in FY23, which is 2.7 times the average exploration achieved in the last 5 years.
The sales turnover of electrolytic manganese dioxide (EMD) reached a new high, more than 2 times that of the previous year.
EMD is a 100% import substitution product, mostly used for manufacturing of pharmaceuticals and batteries.
About MOIL
MOIL is a Schedule “A” Miniratna Category-I Company under the Union Ministry of Steel.
It was originally incorporated as Manganese Ore (India) Limited in 1962 and its name was changed to MOIL Limited during 2010-11.
The company operates 11 manganese ore mines in India. It has 7 mines located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.
At present the Government of India owns 53.35% shares in the company, Government of Maharashtra (5.96%), Government of Madhya Pradesh (5.38%) and Public (35.31%).
Headquarter: Nagpur, Maharashtra
CMD MOIL Limited : Ajit Kumar Saxena
6. PM Modi inaugurated CBI’s diamond jubilee celebrations
Tags: National National News
Prime Minister Narendra Modi inaugurated the Diamond Jubilee Celebrations of the Central Bureau of Investigation (CBI) on 3rd April at Vigyan Bhawan, New Delhi.
An overview of the news
A investiture ceremony was also held for the recipients of the President's Police Medal for Distinguished Service and the Gold Medal for Best Investigating Officers of the CBI.
During the ceremony, PM Modi presented medals to all the awardees.
The PM also inaugurated the newly constructed office complexes of the CBI in Shillong, Pune and Nagpur.
He released a postage stamp and a commemorative coin marking the diamond jubilee celebration year of the CBI.
He also launched the agency’s Twitter handle.
Central Bureau of Investigation (CBI)
The Central Bureau of Investigation (CBI) was set up in 1963 by a resolution of the Ministry of Home Affairs.
It is the premier investigating police agency in India.
It is not a statutory body but it is empowered to investigate under the Delhi Special Police Establishment Act, 1946.
The establishment of the CBI was recommended by the Santhanam Committee (1962–1964).
Headquarter - New Delhi
It works under the Ministry of Personnel, Pension & Public Grievances, Government of India.
The Ministry comes under the direct purview of the Prime Minister’s Office.
The Motto of CBI is - Industry, Impartiality, Integrity.
The CBI is headed by a Director, who is responsible for the overall management and functioning of the agency.
Director General - Subodh Kumar Jaiswal
7. PM Modi inaugurated CBI’s diamond jubilee celebrations
Tags: National National News
Prime Minister Narendra Modi inaugurated the Diamond Jubilee Celebrations of the Central Bureau of Investigation (CBI) on 3rd April at Vigyan Bhawan, New Delhi.
An overview of the news
A investiture ceremony was also held for the recipients of the President's Police Medal for Distinguished Service and the Gold Medal for Best Investigating Officers of the CBI.
During the ceremony, PM Modi presented medals to all the awardees.
The PM also inaugurated the newly constructed office complexes of the CBI in Shillong, Pune and Nagpur.
He released a postage stamp and a commemorative coin marking the diamond jubilee celebration year of the CBI.
He also launched the agency’s Twitter handle.
Central Bureau of Investigation (CBI)
The Central Bureau of Investigation (CBI) was set up in 1963 by a resolution of the Ministry of Home Affairs.
It is the premier investigating police agency in India.
It is not a statutory body but it is empowered to investigate under the Delhi Special Police Establishment Act, 1946.
The establishment of the CBI was recommended by the Santhanam Committee (1962–1964).
Headquarter - New Delhi
It works under the Ministry of Personnel, Pension & Public Grievances, Government of India.
The Ministry comes under the direct purview of the Prime Minister’s Office.
The Motto of CBI is - Industry, Impartiality, Integrity.
The CBI is headed by a Director, who is responsible for the overall management and functioning of the agency.
Director General - Subodh Kumar Jaiswal
8. US Senate confirms Indian-American Richard Verma to top State Department post
Tags: Person in news International News
The United States Senate on March 30 confirmed the appointment of Indian American Richard Verma as Deputy Secretary of State, Management and Resources.
An overview of the news
This position is normally seen as the CEO of the powerful State Department in the US Government.
Richard Verma served as the US Ambassador to India from January 2015 to January 2017 and is currently the Chief Legal Officer and Head of Global Public Policy at MasterCard.
He also served as Assistant Secretary of State for Legislative Affairs during the Obama administration.
Prior to this he was National Security Advisor to United States Senator Harry Reid.
Verma has also served as Vice Chairman of The Asia Group, Partner and Senior Counselor at Steptoe and Johnson LLP, and Senior Counselor at the Albright Stonebridge Group.
Verma holds a BS degree from Lehigh University, an LLM with distinction from Georgetown University Law Center, and a PhD from Georgetown University.
He was appointed to the President's Intelligence Advisory Board and he is a former member of the Weapons of Mass Destruction and Terrorism Commission.
9. ISRO successfully conducts landing experiment of the Reusable Launch Vehicle
Tags: Science and Technology National News
The Indian Space Research Organisation (ISRO) on 2 April successfully conducted the Reusable Launch Vehicle Autonomous Landing Mission (RLV LEX).
An overview of the news
The test was conducted at the Aeronautical Test Range (ATR), Chitradurga, Karnataka.
A Chinook Helicopter of the Indian Air Force carried the launch vehicle to a height of 4.5 kms and released it in mid-air.
The RLV took off at 7.10 am and landed at the ATR airstrip at 7.40 am.
It is noteworthy that the rocket can be launched again with the help of a reusable launch vehicle.
This has successfully achieved the autonomous precise landing of the Space vehicle.
ISRO had developed the navigation system, instrumentation and sensors on its own.
With this successful test, the dream of developing a reusable spacecraft in India can become a reality.
Indian Space Research Organization (ISRO)
It was established on 15 August 1969.
It is the national space agency of India. It launches its space rocket from Satish Dhawan Space Center in Sriharikota, Andhra Pradesh.
Headquarters: Bengaluru
Chairman: S Somnath
10. Georgia became first American state to pass resolution condemning Hinduphobia
Tags: International News
The Assembly of the US state of Georgia has passed a resolution condemning Hinduphobia (Prejudice towards Hinduism). Georgia has become the first US state to implement such a legal measure.
An overview of the news
The resolution condemns Hinduphobia and anti-Hindu bigotry and states that 'Hinduism is the world's largest and oldest religion' and 1.2 billion people in more than 100 countries of the world follow this religion.
The resolution said that this religion incorporates diverse traditions and faith with values of acceptance, mutual respect and peace.
The resolution states that the American-Hindu community has been a major contributor to fields as diverse as medicine, science and engineering, information technology, hospitality, finance, education, manufacturing, energy and retail.
The proposal was introduced by Representatives Lauren McDonald and Todd Jones from Atlanta's Forsyth County.
A large number of Hindu and Indian-American communities live in Atlanta.
The resolution also states that the contribution of the Hindu community in the fields of yoga, Ayurveda, meditation, food, music and art has enriched the cultural fabric.
What is Hinduphobia?
Hinduphobia is a set of hostile, destructive and derogatory attitudes towards Hinduism and Hindus that may manifest as prejudice, fear or hatred.
It is true that Hindu Americans have faced discrimination across America.
About Georgia
Prime Minister - Irakli Garibashvili
President - Salome Zurabishvili
Capital -Tbilisi
Currency - Georgian lari (GEL)
