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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Introduces Mission SAKSHAM to Strengthen Capacity in Urban Co-operative Banking Sector

• The Reserve Bank of India (RBI) has launched Mission SAKSHAM (Sahkari Bank Kshamta Nirman), a nationwide capacity-building programme for strengthening the Urban Co-operative Banks (UCBs)
• The mission aims to enhance managerial and operational capabilities, improve compliance culture, and strengthen institutional resilience across UCBs.
• Mission SAKSHAM seeks to create a continuous learning ecosystem, contributing to systemic stability and sustainable growth of the cooperative banking sector.
• The programme follows a collaborative approach, developed in consultation with the Umbrella Organisation of UCBs and various national and state cooperative federations.
• Under this initiative, large-scale training programmes (both in-person and e-learning) will be conducted, targeting around 1.40 lakh participants across the country.
• The training will cover key stakeholders including Board Members, Senior Management, Heads of Risk, Compliance and Audit functions, IT personnel, and other critical staff of UCBs.
• The RBI will also ensure content delivery in regional languages, making training more accessible and inclusive.
• The initiative is part of RBI’s broader efforts to strengthen the regulatory and supervisory framework for the UCB sector.

Government Enhances Public Sector Banks with Strategic Expansion of Workforce Capacity

• The Department of Financial Services (DFS) under the Ministry of Finance, Government of India is implementing sustained and targeted measures to strengthen human resource capacity in Public Sector Banks (PSBs) through calibrated workforce expansion, improved operational efficiency, and governance-oriented reforms.

Key Highlights :

• A well-calibrated recruitment scale is a key pillar of human resource management, ensuring optimal staffing and sustained operational efficiency in the banking sector.
• These initiatives are aligned with the Government’s broader objective of building a resilient, customer-centric, and future-ready banking system.
• Recruitment in PSBs is carried out through the Institute of Banking Personnel Selection (IBPS) based on the specific manpower requirements of participating banks.
• This centralised and standardised recruitment framework ensures transparency, consistency, and efficiency in the selection process.
• As per PSB data, in FY 2025–26, a total of 50,552 candidates have been selected and issued offer letters across PSBs, reflecting a major augmentation of manpower to meet rising banking sector demands.
• This continues a steady upward trend, with 30,827 candidates in FY 2023–24 and 37,860 candidates in FY 2024–25, showing a clear year-on-year expansion in PSB workforce and a planned staffing strategy.
• The expanded recruitment is expected to strengthen operational capacity and reduce workload pressures across PSB branches.
• It will also improve customer service delivery and enhance responsiveness in banking operations.
• The increased staffing will support the expansion of banking services in underserved and rural areas, promoting inclusive growth.
• It will further advance financial inclusion and deepen credit outreach across the economy.
• The strengthened workforce will enable PSBs to effectively support India’s overall economic growth trajectory.
• The Government remains committed to ensuring that PSBs are equipped with adequate, skilled, and future-ready human resources, enabling them to play a pivotal role in financial inclusion, economic development, and evolving banking needs.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary

Reserve Bank of India Announces Expected Credit Loss-Based Norms from April 2027 and Phased foreign exchange Derivatives Reporting from July 2027

• The Reserve Bank of India (RBI) has issued a Master Direction on asset classification, income recognition, and provisioning, introducing a shift to the Expected Credit Loss (ECL) framework, effective from April 1, 2027.
• The new ECL-based approach will replace the existing norms based on the incurred loss model, marking a major reform in banking risk management and provisioning standards.

Key Highlights :

• Under the transition, banks will move from recognising losses only after default occurs to a forward-looking ECL model, improving early risk identification and financial stability.
• The Expected Credit Loss (ECL) framework requires banks to estimate probable future losses using forward-looking risk parameters, rather than waiting for actual defaults.
• The 90-day rule for Non-Performing Assets (NPAs) remains unchanged, where loans are classified as NPAs if repayments are overdue for more than 90 days.
• RBI has also introduced a phased reporting framework for over-the-counter (OTC) foreign exchange (FX) derivative contracts, effective from July 1, 2027.
• Under the new reporting norms, banks must report all OTC FX derivative contracts involving the Indian rupee, including those executed by offshore and related entities
• The framework covers both deliverable and non-deliverable derivative contracts, ensuring comprehensive monitoring of currency risk exposure.
• All Authorized Dealer Category-I (AD Cat-I) banks are required to report such transactions to Clearing Corporation of India Limited (CCIL) for centralised data collection and transparency.

Flipkart Internet Private Limited, Axis Bank Limited and PayU Payments Private Limited Introduce OTP-Free Card Payments with Biometric Authentication

• Flipkart Internet Private Limited, in partnership with Axis Bank Limited and PayU Payments Private Limited, has launched biometric authentication for card payments, replacing traditional One-Time Passwords (OTPs)-based verification.
• The system enables users to approve transactions using fingerprint or Face ID, marking a major shift towards faster, seamless, and secure digital payment systems.
• The ecosystem involves Flipkart (checkout platform), PayU (merchant infrastructure), Axis Bank (card issuer), and Wibmo (issuer-side authentication) for end-to-end biometric payment processing.
• The technology works on both Android and iOS devices, using device-bound authentication, one-touch approval, and advanced fraud detection mechanisms.
• The system eliminates One-Time Password (OTP) dependency, reducing transaction delays and failures, thereby improving payment success rates and user experience.
• It enhances security by preventing SIM swap fraud and phishing attacks, making digital transactions more resilient to cyber threats.
• The initiative aligns with the Reserve Bank of India (RBI) Authentication Mechanisms for Digital Payment Transactions Directions, 2025, ensuring regulatory compliance and secure payment standards.

Frequently Asked Questions on Cheque Clearing

• Cheque Truncation System (CTS) is a mechanism where the physical cheque is stopped (truncated) during clearing after its electronic image is captured and transmitted, eliminating the need for physical movement of cheques between banks.
• Under CTS, the presenting bank captures cheque data and images, which are sent electronically to the clearing house and drawee (paying) bank, enabling faster, cost-effective and automated clearing.

Key Highlights :

• Continuous Clearing is an advanced system where presentation and return (confirmation) sessions run simultaneously in a continuous flow, improving speed, efficiency, and real-time processing of cheques compared to traditional batch clearing.
• In continuous clearing, a cheque is considered settled once confirmed within the Item Expiry Time, after which funds are released to the presenting bank within one hour of settlement.
• Item Expiry Time is the deadline by which the drawee bank must confirm or reject a cheque, failing which it is treated as deemed approved for settlement.
• Only CTS-2010 standard cheques are accepted in clearing, which include standardised formats and security features like watermark, invisible ink logo, and void pantograph to reduce fraud and ensure image clarity.
• Non-CTS cheques are no longer accepted in clearing (since December 31, 2018), though they remain valid as negotiable instruments.
• CTS is now operated under a National Grid system managed by National Grid Clearing House (NGCH), Chennai, after merging earlier grids of Mumbai, New Delhi, and Chennai.
• Customers must use permanent ink and avoid alterations, as cheques with modifications are not accepted under CTS, enhancing fraud prevention and security.
• The Positive Pay System (PPS) requires cheque issuers to share key details like date, payee name, and amount, which are verified during clearing to detect fraud and tampering.
• PPS is recommended for cheques above ₹50,000 and made mandatory for higher-value cheques (₹5 lakh and above) to strengthen payment security.
• The presenting bank retains physical cheques for 10 years, while customers can request certified cheque images or physical retrieval through proper request channels.
• If cheques are lost during transit, banks must immediately inform the customer so that stop payment instructions can be issued and financial loss avoided.
• For cheque collection, no charges apply for savings accounts up to ₹1 lakh, while higher-value cheques may attract bank-defined service charges.
• Customers are entitled to acknowledgement receipts for cheque deposits, and banks cannot refuse providing them at collection counters.
• Complaints regarding cheque issues can be escalated to banks first and then to RBI Integrated Ombudsman Scheme (RB-IOS 2021) if unresolved within 30 days.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Employees Provident Fund Organisation to Launch E-PRAAPTI Digital Platform

• The Employees Provident Fund Organisation will launch a new digital platform E-PRAAPTI, announced by Union Minister of Labour and Employment Mansukh Mandaviya, to enhance digital governance, transparency, and user empowerment.
• E-PRAAPTI (Employees Provident Fund Aadhaar-Based Access Portal for Tracking Inoperative Accounts) is designed to help users trace and reactivate dormant or unclaimed provident fund accounts, even without Universal Account Number.
• The platform uses Aadhaar-based authentication, allowing users to access accounts independently without employer intervention.
• Initially, the system will function through a Member Identification Number-based access, enabling easy retrieval of account details.
• It is especially beneficial for individuals who have changed jobs multiple times or lost track of provident fund details.
• Key features include secure Aadhaar login, tracing and reactivation of inactive accounts, independent account management, and future support for users without Member Identification Number details.
• The initiative is part of the Employees Provident Fund Organisation’s digital transformation efforts to modernise services and reduce paperwork.
• In Financial Year 2025–26, the organisation settled 83.1 million claims, compared to 60.1 million in Financial Year 2024–25, with most claims processed digitally.
• Reforms include removal of cheque uploads, faster bank account linking, and simplified procedures, improving efficiency and user experience.
• In Financial Year 2025–26, 55.1 million advance claims were processed, with 71.11 per cent settled within three days and 98.70 per cent resolved within 20 days.

Maharashtra Approves Artificial Intelligence Policy 2026 to Boost Investment and Employment

• The Maharashtra Cabinet led by Chief Minister Devendra Fadnavis approved the Maharashtra Artificial Intelligence Policy 2026 to position the state as a leading Artificial Intelligence hub in India.
• The policy aims to attract over ₹10,000 crore investment and generate around 1.5 lakh jobs by 2031.
• It focuses on building a robust ecosystem integrating advanced infrastructure, skilled workforce, startup ecosystem, and responsible Artificial Intelligence governance.
• The initiative aligns with India’s Artificial Intelligence Mission and aims to make Maharashtra a model for national Artificial Intelligence development.
• The policy recognises that nearly 70 per cent of jobs may transform due to Artificial Intelligence, highlighting its impact on industries and employment patterns.
• Infrastructure development includes establishment of 5 Artificial Intelligence Innovation Cities, creation of a common computing backbone with 2,000 Graphics Processing Units, and introduction of Compute-as-a-Service for government departments.
• The state plans to train 2 lakh youth and professionals and set up the Maharashtra Centre for Advanced Artificial Intelligence Training to strengthen industry-academia collaboration.
• The policy introduces a ₹500 crore Artificial Intelligence startup venture fund under public-private partnership, along with 20 per cent subsidy for Artificial Intelligence adoption by 5,000 Micro, Small and Medium Enterprises.
• It proposes establishment of 12 Artificial Intelligence incubators, with grants up to ₹1 crore for startups and ₹1.25 crore for women-led ventures.
• The Maha Artificial Intelligence Tools Hub will provide a common platform for Artificial Intelligence adoption and innovation.
• Investment incentives include up to 20 per cent capital subsidy, up to 100 per cent stamp duty exemption, power tariff subsidy of ₹2 per unit for up to 10 years, and reimbursement for patents, certifications, and global exhibitions.

RECENT NEWS

• On the occasion of World Health Day, the Maharashtra government started a new rural healthcare campaign called “Majha Gaon, Arogyasampann Gaon” (My Village, Healthy Village). This scheme, worth Rs.65.25 crore, aims to improve health services in villages and make quality treatment available to people near their homes.

About Maharashtra:

• Chief Minister: Devendra Fadnavis
• Governor: Jishnu Dev Varma.
• Capital: Mumbai
• National Parks: Tadoba National Park, Sanjay Gandhi National Park, Chandoli National Park, Gugamal National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Karnala Bird Sanctuary, Melghat Wildlife Sanctuary, Radhanagari Wildlife Sanctuary

Bengaluru Police Launch Artificial Intelligence-Powered Multilingual Feature in Namma 112 Helpline

• Bengaluru Police introduced an Artificial Intelligence-powered multilingual feature in the Namma 112 emergency helpline, becoming the first police unit in India to implement such technology.
• The system enables communication in more than 10 Indian and foreign languages, improving accessibility, emergency response, and public safety.
• The feature is built on Voice Artificial Intelligence for Nationwide Key Interventions and developed in collaboration with Monday Ventures and Aeos.
• Supported languages include Bengali, Malayalam, Gujarati, Odia, Manipuri, Assamese, Kashmiri, Nepali, French, Spanish, and Arabic, along with existing support in Kannada, English, Hindi, Tamil, and Telugu.
• The initiative ensures callers can communicate in their preferred language, reducing confusion and delays during emergencies.
• Bengaluru, being a global city, faces language barriers due to diverse population and international visitors.
• The control room handles around 8,000 calls daily, with 2,000 requiring action and 100–200 involving unfamiliar languages.
• The initiative was launched under the leadership of Minister G Parameshwara, who emphasised the need for inclusive emergency services.
• Police Commissioner Seemanth Kumar Singh highlighted challenges in real-time multilingual communication, leading to adoption of this system.
• Language data collection initiated in January 2026 helped identify the requirement for this Artificial Intelligence-based solution.

RECENT NEWS

• Department of the Posts Karnataka Postal Circle has unveiled the commemorative postage stamps and the souvenir sheets to celebrate the achievements of the Indian Space Research Organization (ISRO). This event was took place in the Bengaluru and it marks the tribute to India’s growing ambitions in the human spaceflight and advanced space exploration.

About Karnataka:

• Capital: Bengaluru
• Chief Minister: Siddaramaiah
• Governor: Thaawarchand Gehlot
• National Parks: Bandipur National Park, Nagarhole National Park, Kudremukh National Park, Anshi (Kali) National Park, Bannerghatta National Park
• Wildlife Sanctuaries: Dandeli Wildlife Sanctuary, Bhadra Wildlife Sanctuary, Ranganathittu Bird Sanctuary, Brahmagiri Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary

Prime Minister Narendra Modi Inaugurates Ganga Expressway in Uttar Pradesh

• Prime Minister Narendra Modi inaugurated the Ganga Expressway in Hardoi, Uttar Pradesh.
• The expressway is a 594 kilometre long six-lane greenfield corridor, expandable to eight lanes, built at a cost of ₹36,230 crore.
• It connects Meerut to Prayagraj, passing through 12 districts including Meerut, Bulandshahr, Hapur, Amroha, Sambhal, Badaun, Shahjahanpur, Hardoi, Unnao, Raebareli, Pratapgarh, and Prayagraj.
• The project enhances connectivity between western, central, and eastern Uttar Pradesh, creating a unified transport network.
• Travel time is reduced from 10–12 hours to around 6 hours, improving efficiency, fuel savings, and productivity, especially for commercial transport.
• A key feature is a 3.5 kilometre emergency landing airstrip in Shahjahanpur for fighter jets and emergency aircraft, strengthening national security preparedness.
• The expressway will support development of Integrated Manufacturing and Logistics Corridors covering around 2,635 hectares, reducing logistics costs and delivery time.
• It is expected to boost industrial growth, trade, and investment in Uttar Pradesh.
• The expressway integrates with major routes such as Agra–Lucknow Expressway, Jewar Link Expressway, Farrukhabad Link Expressway, and proposed Meerut–Haridwar extension, ensuring statewide connectivity and balanced regional development.

RECENT NEWS

• Honorable Minister of Environment Bhupender Yadav have announced the inclusion of Shekha Jheel Bird Sanctuary in Uttar Pradesh as the country’s 99th Ramsar site on April 22nd 2026. It is located in Aligarh and this recognition highlights the India’s growing commitment to protect the wetlands and biodiversity

About Uttar Pradesh:

• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel
• Capital: Lucknow
• National Parks: Dudhwa National Park
• Wildlife Sanctuaries: Katarniaghat Wildlife Sanctuary, Kaimoor Wildlife Sanctuary, Nawabganj Bird Sanctuary (Shahid Chandra Shekhar Azad Bird Sanctuary), Hastinapur Wildlife Sanctuary, Sur Sarovar Bird Sanctuary, Chandraprabha Wildlife Sanctuary, Mahavir Swami Wildlife Sanctuary, Ranipur Wildlife

Panchayat Advancement Index 2.0 Report Released on National Panchayati Raj Day

• The Ministry of Panchayati Raj released the Panchayat Advancement Index 2.0 Report on National Panchayati Raj Day (April 24), highlighting progress in rural development and grassroots governance.
• A total of 3,635 Gram Panchayats were classified as Front Runners (A Grade), reflecting strong performance.
• The report covers over 2.59 lakh Gram Panchayats across 33 States and Union Territories, making it one of the largest data-driven governance assessments in India.
• Nearly 1,18,824 Panchayats (45.72 per cent) fall under the Performer (B Grade) category, while others are classified as Aspirant and Beginner.
• The report recorded a 97.30 per cent participation rate, a significant increase from 80.79 per cent in Panchayat Advancement Index 1.0, with 2,59,867 Gram Panchayats submitting validated data.
• Key improvements in the framework include integrated data entry system, mandatory Gram Sabha validation, real-time dashboards, data integration from national portals, and support for vernacular languages.
• Under Poverty-Free and Enhanced Livelihoods, 3,313 Gram Panchayats achieved A Plus grade, indicating progress in poverty reduction, employment generation, and local economic development.
• Under Healthy Panchayats, around 1,015 Panchayats secured A Plus grade, reflecting improvements in preventive healthcare, nutrition, sanitation, and community participation.
• The Panchayat Advancement Index evaluates performance based on 150 indicators, 230 data points, and 9 themes, including poverty, health, water, infrastructure, governance, and women empowerment.
• Panchayats are graded as Achiever (90 and above), Front Runner (75–90), Performer (60–75), Aspirant (40–60), and Beginner (below 40).
• States such as Uttar Pradesh, Maharashtra, Gujarat, Tamil Nadu, and Andhra Pradesh recorded high participation, while Kerala and Tripura showed strong performance in higher categories.
• Some regions continue to have Panchayats in Aspirant and Beginner categories, indicating the need for targeted interventions.

West Bengal Records Highest-Ever Voter Turnout in Assembly Elections

• West Bengal recorded its highest-ever voter turnout after Independence with an overall participation of 92.47 per cent in the Assembly Elections conducted in two phases.
• Phase One turnout stood at 93.19 per cent, while Phase Two recorded 91.66 per cent, surpassing the previous highest turnout of 84.72 per cent in 2011.
• The data reflects a significant rise in electoral participation, setting a new benchmark in India’s electoral history.
• Gender-wise participation showed inclusivity, with Male voters at 91.07 per cent, Female voters at 92.28 per cent, and Third gender at 91.28 per cent in Phase Two.
• Higher participation of female voters indicates growing gender empowerment in elections.
• The Election Commission of India used advanced technology platforms such as Election Commission Integrated Network for monitoring.
• Measures included 100 per cent live webcasting of polling stations, real-time voter turnout updates, and minimal delay in data reporting.
• Under the leadership of Chief Election Commissioner Gyanesh Kumar, the process ensured smooth and transparent polling.
• Voter-friendly initiatives included colour photographs of candidates on Electronic Voting Machines, Mobile Deposit Facility, redesigned Voter Information Slips, and a cap of 1,200 voters per polling station.
• The election covered 24 districts and 294 Assembly Constituencies, with a total electorate of 6.81 crore voters.
• A total of 85,377 polling stations were set up, with deployment of over 4.26 lakh polling personnel.

RECENT NEWS

• The Government of West Bengal has signed a memorandum of understanding (MoU) with German development agency GIZ and the State Mission for Clean Ganga (SMCG) to prepare basin-based master plans for the Ichhamati and Jalangi rivers.

About West Bengal:

• Chief Minister: Mamata Banerjee
• Governor: R. N. Ravi
• Capital: Kolkata
• National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park, Gorumara National Park, Neora Valley National Park
• Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary, Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Nations Educational, Scientific and Cultural Organization Expands Global Geopark Network with Addition of 12 New Sites, Raising Total to 241

• The United Nations Educational, Scientific and Cultural Organization (UNESCO) has designated 12 new Global Geoparks, increasing the total to 241 sites across 51 countries, covering more than 882,000 square kilometres (sq km).
• The newly added UNESCO Global Geoparks are located in China, France, Greece, Ireland, Japan, Malaysia, Portugal, Russia, Tunisia (first-ever), and Uruguay.
• The UNESCO Global Geoparks Programme was officially established in 2015 as a UNESCO label using a “bottom-up approach” involving local stakeholders.
• The main objective of Global Geoparks is to protect geological heritage while promoting environmental education, sustainable development, and local community empowerment.
• The status of a UNESCO Global Geopark is granted for a period of four years, after which sites undergo a revalidation process to retain the designation.
• The newly added geoparks include Changshan (China), Siguniang (China), Terres d’Hérault (France), Nisyros (Greece), Joyce Country and Western Lakes (Ireland), Mine-Akiyoshidai Karst Plateau (Japan), Lenggong (Malaysia), Sarawak Delta (Malaysia), Algarvensis (Portugal), Toratau (Russia), Dahar (Tunisia), and Manantiales Serranos (Uruguay).
• The inclusion of Tunisia as a first-ever Global Geopark location marks a significant milestone in the expansion of the UNESCO Geoparks network.

About United Nations Educational, Scientific and Cultural Organization:

• Formation: 16 November 1945
• Headquarters: Paris, France
• Director-General: Khaled El-Enany
• Parent organization: United Nations Economic and Social Council

United Arab Emirates Announces Exit from Organization of the Petroleum Exporting Countries and OPEC+ Alliance Effective May 2026

• The United Arab Emirates (UAE) has announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, effective from May 1, 2026.
• The UAE joined OPEC in 1967 and is currently the third-largest oil producer in the group after Saudi Arabia and Iraq, contributing around 12% of total output.
• A key reason for withdrawal is production constraint under OPEC+ quotas, which has limited the UAE’s ability to fully utilise its expanded capacity.
• The UAE’s state-owned oil company, Abu Dhabi National Oil Company (ADNOC), has increased production capacity to around 5 million barrels per day, but quota restrictions have restricted output.
• The decision reflects the UAE’s focus on national energy strategy and production flexibility, allowing alignment with long-term economic priorities.
• The move aims to provide the UAE greater control over oil production decisions independent of OPEC+ limits.
• The exit may impact global oil market stability, potentially reducing coordination among OPEC members.
• It could also weaken OPEC’s ability to influence global crude oil prices through unified production policies.

About UAE :

• President : Mohamed bin Zayed Al Nahyan
• Prime Minister : Mohammed bin Rashid Al Maktoum
• Capital : Abu Dhabi
• Currency : Emirati dirham (AED)

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Reliance Enterprise Intelligence Limited Appoints Parminder Singh as Chief Executive Officer

• Reliance Enterprise Intelligence Limited (REIL), a joint venture (JV) between Reliance Intelligence Limited and Meta (Facebook Overseas Inc.), appointed Parminder Singh as its Chief Executive Officer (CEO) with immediate effect.
• Parminder Singh is a global technology leader with over 30 years of experience across major firms including Google, Apple, Twitter, and IBM, specialising in digital business scaling, enterprise strategy, and AI-driven transformation.
• He has served as Managing Director (MD) at Google (Asia-Pacific) and MD at Twitter (Southeast Asia, India, and MENA region), highlighting his leadership in global digital expansion.
• He also worked as Chief Commercial Officer (CCO) and Chief Digital Officer (CDO) at Mediacorp, where he led digital innovation and Artificial Intelligence (AI) transformation initiatives.
• Parminder Singh is also an entrepreneur and innovator, having co-founded ClayboxAI and WeKamp, focusing on AI leadership, advisory services, and community-driven platforms.

CURRENT AFFAIRS : DEFENCE NEWS

Bharat Heavy Electricals Limited Enters Technology Transfer Pact with Defence Research and Development Organisation’s Naval Science and Technological Laboratory for Gas Turbine Infrared Suppression System for Naval Vessels

• Bharat Heavy Electricals Limited (BHEL) has signed a Licensing Agreement for Transfer of Technology (LAToT) with Defence Research and Development Organisation’s (DRDO) Naval Science and Technological Laboratory (NSTL), marking a key step in indigenous defence technology development.
• The agreement relates to the Gas Turbine–Infrared Suppression System (GT-IRSS) used in naval vessels, aimed at enhancing stealth and survivability of warships.

Key Highlights :

• The GT-IRSS technology, developed by NSTL for LM2500 gas turbines, reduces the infrared signature of ships by cooling exhaust gases and shielding heat emissions, improving naval stealth capability.
• Under the agreement, BHEL will handle fabrication, installation, commissioning, and technology absorption of the GT-IRSS system, strengthening its defence manufacturing capabilities.
• The collaboration supports India’s self-reliance in defence production, reducing dependence on foreign naval technologies.
• It aligns with the government initiatives of Make in India and Atmanirbhar Bharat, promoting indigenous defence innovation.
• The agreement enables BHEL’s entry into the high-value defence technology segment, supporting its diversification strategy beyond conventional power equipment manufacturing.
• NSTL, Visakhapatnam, is a premier DRDO laboratory engaged in development of naval weapons, torpedoes, mines, fire control systems, launchers, and decoys, contributing to advanced maritime defence systems.
• The technology transfer will strengthen domestic capabilities in naval systems fabrication and integration, enhancing India’s maritime defence preparedness.

About Bharat Heavy Electricals Limited :

• Founded : 1956
• Headquarters : New Delhi, India
• Chairman & Managing Director : K S Murthy
• Owner : Government of India (63.17%)
• BHEL is an Indian central public sector undertaking and the largest government-owned electrical/ industrial technology company.
• It is owned by the Government of India, with administrative control under the Ministry of Heavy Industries.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Union Minister Ashwini Vaishnaw and Andhra Pradesh Chief Minister Chandrababu Naidu lay foundation stone for Google Cloud AI Hub in Visakhapatnam

• Union Minister Ashwini Vaishnaw (Ministry of Information & Broadcasting(MIB) and Ministry of Electronics & Information Technology(MeitY)) along with Andhra Pradesh Chief Minister N. Chandrababu Naidu laid the foundation stone for the Google Cloud India Artificial Intelligence (AI) Hub in Tarluvada, Visakhapatnam, Andhra Pradesh.
• The project is valued at USD 15 billion (₹1.35 lakh crore) and is recognised as the largest single Foreign Direct Investment (FDI) project in India.
• The initiative aims to transform Visakhapatnam (Vizag) into a global AI and Cloud Capital.

About Google Cloud AI Hub:

• The project includes hyperscale data centres designed for AI workloads, along with high-capacity fibre networks.
• It also features an international subsea cable landing station to strengthen global digital connectivity.
• The project is managed by Google’s subsidiary Raiden Infotech India Private Limited, in strategic collaboration with AdaniConneX (a Joint Venture between Adani Enterprises and EdgeConneX) and Nxtra by Airtel.
• The implementation timeline is five years, involving development of subsea cables, high-speed fibre connectivity, and extensive use of electricity and water for cooling systems.
• The facility will have a capacity of 1 Gigawatt (GW), making it one of the largest AI-focused data centres in India.
• It will support enterprises, startups, and government platforms by providing advanced high-performance computing (HPC)

China National Space Administration Launches Pakistan’s PRSC-EO3 Satellite Using Long March-6

• The China National Space Administration (CNSA) successfully launched Pakistan’s PRSC-EO3 (Pakistan Remote Sensing Satellite–Earth Observation-3) satellite aboard a Long March-6 rocket from the Taiyuan Satellite Launch Center, placing it into its designated orbit.
• The launch marks the 640th mission of China’s Long March rocket series, highlighting China’s advancement in space launch capabilities.
• PRSC-EO3 (Pakistan Remote Sensing Satellite–Earth Observation-3) is an Electro-Optical (EO) Earth Observation satellite developed indigenously by SUPARCO as part of Pakistan’s Earth Observation (EO) satellite constellation.
• The satellite is equipped with advanced sensors, including visible, near-infrared, and ultraviolet imaging systems, enabling high-resolution Earth observation.
• It uses Artificial Intelligence (AI)-based onboard data processing and multi-geometry imaging techniques for accurate 3D terrain analysis.
• The satellite supports multiple applications such as remote sensing, environmental monitoring, urban planning, agricultural assessment, and disaster management.

Recent News :

• In April 2026, China completed an 18 km underwater high-speed rail tunnel beneath the Yangtze River, forming part of the Chongming–Taicang tunnel project.

About China:

• Capital: Beijing
• Currency: Renminbi (CNY)

CURRENT AFFAIRS : OBITUARIES

Olympic Bronze Medal-winning Indian Hockey Player Gurbax Singh Grewal Passed Away

• Renowned Indian hockey player Gurbax Singh Grewal passed away at the age of 84 in New Delhi, Delhi.
• He was born on April 1, 1942 in Lyallpur (now Faisalabad, Pakistan).
• He was a member of the Indian men’s hockey team that won the bronze medal at the 1968 Mexico City Olympics (Mexico).
• In his early career, he played professional hockey for Western Railways, where he established a distinguished playing career in his early 20s.
• He was part of the 1968 Indian Olympic hockey squad and achieved the rare distinction of playing alongside his brother Balbir Singh Grewal at the same Olympic Games, marking a notable family representation for India.
• After retiring from active play, he served as the Honorary Secretary of the Mumbai Hockey Association, contributing to the administration of the sport.
• He also worked as a hockey coach, playing an important role in player development and mentoring young talent.

CURRENT AFFAIRS: IMPORTANT DAYS

International Labour Day Observed on May 1

• International Labour Day, also known as May Day, is observed every year on May 1 to commemorate the struggles and achievements of workers.
• The 2026 theme, as highlighted by the International Labour Organization, is “Ensuring a Healthy Psychosocial Working Environment”.
• The day recognises the contributions of labourers and promotes workers’ rights, welfare, and dignity.
• International Labour Day was first celebrated on May 1, 1890, following its declaration by the International Congress of Socialist Parties in Europe on July 14, 1889.
• In India, the day is observed as a national holiday.
• In Canada and the United States of America, it is celebrated as Labour Day on a different date.
• In India, the first celebration of International Labour Day was held in Chennai in 1923.
• The day originated from the historical struggles of workers and trade unions for rights, fair working conditions, and solidarity among working people.

Daily CA One- Liner: May 1^st

• The Employees Provident Fund Organisation will launch a new digital platform E-PRAAPTI, announced by Union Minister of Labour and Employment Mansukh Mandaviya, to enhance digital governance, transparency, and user empowerment
• The Maharashtra Cabinet led by Chief Minister Devendra Fadnavis approved the Maharashtra Artificial Intelligence Policy 2026 to position the state as a leading Artificial Intelligence hub in India
• Bengaluru Police introduced an Artificial Intelligence-powered multilingual feature in the Namma 112 emergency helpline, becoming the first police unit in India to implement such technology
• Prime Minister Narendra Modi inaugurated the Ganga Expressway in Hardoi, Uttar Pradesh
• The Ministry of Panchayati Raj released the Panchayat Advancement Index 2.0 Report on National Panchayati Raj Day (April 24), highlighting progress in rural development and grassroots governance
• West Bengal recorded its highest-ever voter turnout after Independence with an overall participation of 92.47 per cent in the Assembly Elections conducted in two phases.
• The Reserve Bank of India (RBI) has launched Mission SAKSHAM (Sahkari Bank Kshamta Nirman), a nationwide capacity-building programme for strengthening the Urban Co-operative Banks (UCBs)
• The Department of Financial Services (DFS) under the Ministry of Finance, Government of India is implementing sustained and targeted measures to strengthen human resource capacity in Public Sector Banks (PSBs) through calibrated workforce expansion, improved operational efficiency, and governance-oriented reforms.
• The Reserve Bank of India (RBI) has issued a Master Direction on asset classification, income recognition, and provisioning, introducing a shift to the Expected Credit Loss (ECL) framework, effective from April 1, 2027.
• Flipkart Internet Private Limited, in partnership with Axis Bank Limited and PayU Payments Private Limited, has launched biometric authentication for card payments, replacing traditional One-Time Passwords (OTPs)-based verification.
• Cheque Truncation System (CTS) is a mechanism where the physical cheque is stopped (truncated) during clearing after its electronic image is captured and transmitted, eliminating the need for physical movement of cheques between banks.
• The United Nations Educational, Scientific and Cultural Organization (UNESCO) has designated 12 new Global Geoparks, increasing the total to 241 sites across 51 countries, covering more than 882,000 square kilometres (sq km).
• The United Arab Emirates (UAE) has announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, effective from May 1, 2026.
• Reliance Enterprise Intelligence Limited (REIL), a joint venture (JV) between Reliance Intelligence Limited and Meta (Facebook Overseas Inc.), appointed Parminder Singh as its Chief Executive Officer (CEO) with immediate effect.
• Bharat Heavy Electricals Limited (BHEL) has signed a Licensing Agreement for Transfer of Technology (LAToT) with Defence Research and Development Organisation’s (DRDO) Naval Science and Technological Laboratory (NSTL), marking a key step in indigenous defence technology development.
• Union Minister Ashwini Vaishnaw (Ministry of Information & Broadcasting(MIB) and Ministry of Electronics & Information Technology(MeitY)) along with Andhra Pradesh Chief Minister N. Chandrababu Naidu laid the foundation stone for the Google Cloud India Artificial Intelligence (AI) Hub in Tarluvada, Visakhapatnam, Andhra Pradesh.
• The China National Space Administration (CNSA) successfully launched Pakistan’s PRSC-EO3 (Pakistan Remote Sensing Satellite–Earth Observation-3) satellite aboard a Long March-6 rocket from the Taiyuan Satellite Launch Center, placing it into its designated orbit.
• Renowned Indian hockey player Gurbax Singh Grewal passed away at the age of 84 in New Delhi, Delhi.
• International Labour Day, also known as May Day, is observed every year on May 1 to commemorate the struggles and achievements of workers