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CURRENT AFFAIRS: BANKING, FINANCE & BUSINESS

Reserve Bank of India launches 3 surveys for inflation, consumer confidence, policy input

• The Reserve Bank of India (RBI) has launched three major surveys in May 2025 to gather consumer sentiment ahead of its upcoming monetary policy meeting scheduled for June 4–6.
• These surveys are conducted regularly and help the central bank make informed policy decisions based on consumer perception and expectations.

Key Highlights:

• The Inflation Expectations Survey of Households (IESH) aims to capture subjective assessments from individuals on current and future price movements based on their consumption patterns.
• This survey is being conducted across 19 cities in India.
• The Urban Consumer Confidence Survey (UCCS) collects qualitative responses from urban households regarding their views on the overall economic situation, job scenario, price levels, income, and spending.
• Like the IESH, this survey is also being carried out in 19 cities.
• The Rural Consumer Confidence Survey (RCCS) seeks to assess current perceptions and one-year-ahead expectations from households in rural and semi-urban areas.
• It focuses on general economic conditions, employment outlook, price trends, and personal income and expenditure.
• This survey spans households across 31 states and union territories.
• The RBI noted that these surveys provide valuable inputs for monetary policy formulation.

About RBI:

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

Reserve Bank of India Mandates Use of Platform for Regulatory Application, Validation and Authorisation (PRAVAAH) Portal for All Regulatory Applications from May 1, 2025

• The Reserve Bank of India (RBI) has issued a directive requiring all regulated financial entities to use the PRAVAAH portal for submitting applications related to licences, authorisations, and approvals starting May 1, 2025.
• This move aims to centralise regulatory communications and bring uniformity across the financial system.

What is PRAVAAH?

• PRAVAAH stands for Platform for Regulatory Application, Validation and Authorisation.
• It is a secure, web-based digital platform launched by the Reserve Bank of India (RBI).
• Purpose: To enable filing, tracking, and managing of applications for licences, authorisations, and approvals.

Key Highlights:

• From May 1, 2025, exclusive use of PRAVAAH is mandated for all Regulated Entities (REs):
• Scheduled Commercial Banks (including Small Finance Banks, Local Area Banks, RRBs)
• Urban Co-operative Banks
• State and Central Co-operative Banks
• All-India Financial Institutions
• Non-Banking Financial Companies (NBFCs) and Housing Finance Companies
• Primary Dealers
• Payment System Operators
• Credit Information Companies

Airtel Payments Bank RuPay ON-THE-GO Card enabled with National Common Mobility Cards (NCMC)

• Airtel Payments Bank has launched eco-friendly NCMC (National Common Mobility Cards) enabled debit and pre-paid cards.
• The bank has partnered with National Payments Corporation of India (NPCI) to offer interoperable cards powered by RuPay.
• This initiative supports India’s One Nation, One Card vision, emphasizing interoperability across transit and payment systems.
• Two types of cards introduced:
• NCMC-enabled Debit Card for savings account customers
• NCMC-enabled Pre-paid Card for wallet customers
• Both cards are made using eco-friendly e-PVC material, certified for its environmental sustainability.
• The cards can be used for:
• Payments at all merchant establishments
• Online (e-commerce) and offline NCMC transit transactions (metros, buses, parking, etc.)

About Airtel Payments Bank:

• Headquarters: New Delhi, India
• Managing Director & CEO: Anubrata Biswas

CURRENT AFFAIRS: NATIONAL NEWS

India Launches Green Hydrogen Certification Scheme (GHCI) & Empowers MSMEs

• The Ministry of New and Renewable Energy (MNRE) organized a National Workshop on “Opportunities for MSMEs in the Green Hydrogen Supply Chain” in New Delhi.
• During the event, Union Minister Pralhad Joshi launched the Green Hydrogen Certification Scheme of India (GHCI).

Green Hydrogen Certification Scheme (GHCI)

• Launched by: Union Minister Pralhad Joshi
• Purpose:
  • Certify green hydrogen production in India
  • Ensure transparency, traceability, and market credibility
• Significance:
  • Supports India’s National Green Hydrogen Mission (NGHM)
  • Aims to establish India as a global hub for green hydrogen

National Workshop on MSMEs in Green Hydrogen Supply Chain

• Organized by: MNRE
• Participants: Over 300 delegates including:
  • MSMEs
  • Policymakers
  • Technology providers
  • Industry associations
  • International partners

India Releases Draft Greenhouse Gases Emissions Intensity (GEI) Target Rules, 2025

• The Ministry of Environment, Forest and Climate Change (MoEFCC) notified the Draft Gases Emissions Intensity (GEI) Target Rules, 2025.
• Aims to implement the Carbon Credit Trading Scheme (CCTS), 2023.
• Supports India’s commitment under the Paris Agreement to reduce GHG emissions intensity of GDP by 45% by 2030 (compared to 2005 levels).

About GEI (Greenhouse Gases Emissions Intensity)

• GEI = GHG emissions per unit of output (e.g., per tonne of cement).
• Measured in tCO₂e (tonnes of CO₂ equivalent).
• Covers major greenhouse gases including CO₂, CH₄, N₂O, CFCs, HCFCs.

Key Features of Draft GEI Target Rules, 2025

• Baseline Year: FY 2023–24
• Target Years: FY 2025–26 and 2026–27
• Linked to: Carbon Credit Trading Scheme (CCTS), 2023

Industries Covered

• Total industrial units: 282
• Cement – 186 units
• Aluminium – 13 units
• Pulp & Paper – 53 units
• Chlor-Alkali – 30 units
• Major companies impacted: Vedanta, Hindalco, Ultratech, JSW Cement, Dalmia Cement, among others.

Objectives of the Rules

• Enable India to achieve its Paris Agreement climate goals.
• Promote clean technology, low-carbon industrial growth, and efficient energy use.
• Establish a market-based mechanism for emission reduction through carbon credits.

National Mission on Natural Farming (NMNF) – 2024: Bio-input Resource Centres Guidelines Released

• The Union Ministry of Agriculture and Farmers’ Welfare released detailed guidelines for establishing Bio-input Resource Centres (BRCs) under the National Mission on Natural Farming (NMNF).
• NMNF was launched in November 2024 to promote chemical-free, sustainable farming across India.

Objective of NMNF and BRCs

• Promote local production and availability of natural bio-inputs.
• Assist farmers who are unable to produce bio-inputs on their own.
• Disseminate knowledge and best practices related to natural farming at the grassroots level.

Financial Assistance

• ₹1 lakh per BRC, provided in two tranches of ₹50,000 each.
• Infrastructure costs not included (e.g., land rent, shed construction).
• Entrepreneurs must arrange physical infrastructure themselves.

Scheme Convergence

• BRCs encouraged to align with other central schemes:
  • Formation of 10,000 FPOs (Farmer Producer Organizations)
  • National Mission on Edible Oilseeds
  • Other agriculture-linked welfare programmes

Ghaziabad Nagar Nigam Issues India’s First Certified Green Municipal Bond for Water Recycling Facility

• Ghaziabad Nagar Nigam (GNN) has become the first Urban Local Body (ULB) in India to issue a Certified Green Municipal Bond, raising ₹150 crore to fund an advanced Tertiary Sewage Treatment Plant (TSTP).
• This initiative is part of the Swachh Bharat Mission–Urban and demonstrates India's evolving urban financial mechanisms and commitment to sustainability.

Green Municipal Bond Issuance

• ₹150 crore raised through India’s first Certified Green Municipal Bond.
• Funds are allocated to the establishment of the Tertiary Sewage Treatment Plant (TSTP).
• Supported by both the Government of India and the Government of Uttar Pradesh.

Tertiary Sewage Treatment Plant (TSTP) Details

• Capacity: 40 MLD (Million Litres per Day).
• Technologies used:
  • Microfiltration
  • Ultrafiltration
  • Nanofiltration
  • Reverse Osmosis (RO)
• Output: Treated water is delivered via a 95 km pipeline.

Financial Innovation – PPP-HAM Model

• Developed under the Public-Private Partnership (PPP) model, specifically the Hybrid Annuity Model (HAM).
• 40% of funding is provided by the Municipal Corporation.
• The project demonstrates financial discipline, showcasing investor confidence.
• Awarded the Best Municipal Treated Water Reuse Award at the Water Digest World Water Awards 2024-25.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Mark Carney continues as Prime Minister of Canada following his party’s win in General Elections

• Mark Carney, a former banker and political newcomer, led the Liberal Party to a strong electoral performance and will continue as Prime Minister of Canada.
• The Liberal Party is currently leading in 168 seats in the House of Commons, just shy of the 172 required for a majority. Final vote counting is still underway.
• Conservative Party leader Pierre Poilievre conceded defeat after a tightly contested race that saw both parties running close in the polls leading up to election day.
• If the Liberals do not reach the 172-seat threshold, they may need to form a minority government, as was the case under Justin Trudeau in 2021.

About Canada:

• Capital: Ottawa
• Currency: Canadian Dollar (CAD)
• Prime Minister: Mark Carney
• Monarch (Head of State): King Charles III

Kamla Persad-Bissessar Serves Second Term as Prime Minister of Trinidad and Tobago

• Kamla Persad-Bissessar will be the next Prime Minister of Trinidad and Tobago.
• Her party United National Congress has won the parliamentary election of the twin-island Caribbean nation.
• The victory marks a remarkable comeback for 73-year-old Persad-Bissesar who previously served as Prime Minister from 2010-2015.
• She is the only woman ever to have led the Caribbean country.
• The snap election was triggered after the former Prime Minister Keith Rowley of People’s National Movement resigned amid a surge in the cost of living, Trump’s trade wars and soaring crime rates.

About Trinidad and Tobago:

• Capital: Port of Spain
• Currency: Trinidad and Tobago Dollar (TTD)
• President: Christine Kangaloo
• Prime Minister: Kamla Persad-Bissessar

Government Revamps National Security Advisory Board

• The Union Government has reconstituted the National Security Advisory Board (NSAB), appointing former RAW chief Alok Joshi as its new head.
• The board now has seven members, including retired officials from the armed forces, Indian Police Service (IPS), and Indian Foreign Service (IFS).

Other Appointments:

• Newly inducted members include:
• Air Marshal P.M. Sinha (former Western Air Commander)
• Lt. General A.K. Singh (former Southern Army Commander)
• Rear Admiral Monty Khanna
• Rajiv Ranjan Verma and Manmohan Singh (retired IPS officers)
• Venkatesh Varma (former diplomat)
• This move follows a terrorist attack in Pahalgam, Jammu and Kashmir, which killed 26 civilians (including one Nepalese national) and injured several others.
• In response, Prime Minister Narendra Modi chaired a Cabinet Committee on Security (CCS) meeting at his residence, reviewing the situation and India’s strategic response.

CCS meeting Highlights:

• During the CCS meeting, cross-border linkages to the attack were reportedly presented. The attack occurred amid peaceful elections and economic progress in the Union Territory.
• Subsequently, two more high-level meetings were held:
• Cabinet Committee on Political Affairs (CCPA)
• Cabinet Committee on Economic Affairs (CCEA)
• The CCS had previously met on April 23, when it was briefed about the Pahalgam attack, which killed 25 Indian citizens and 1 Nepali national.
• In a diplomatic response, the government announced suspension of the Indus Water Treaty, signaling a stern warning to Pakistan against cross-border terrorism.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Amazon launches first operational satellites for Project Kuiper from Cape Canaveral

• A United Launch Alliance (ULA) Atlas V rocket successfully lifted off on 28 April from Cape Canaveral, initiating the full-scale deployment of Amazon’s Project Kuiper.
• The mission, named Kuiper-1, launched the first batch of operational satellites for Amazon’s planned broadband internet constellation of over 3,200 satellites in low Earth orbit (LEO).

Key Highlights:

• The satellites on the KA-01 mission feature key upgrades from 2023 prototypes:
  • Enhanced phased array antennas for dynamic beam steering
  • Upgraded onboard processors
  • Efficient solar arrays
  • Refined Hall-effect electric propulsion
  • New optical inter-satellite links (OISLs) using infrared lasers with 100 Gbps transfer speeds
• These OISLs enable direct satellite-to-satellite data transfer, reducing dependency on ground stations.
• ULA has won a Department of Defense contract to launch three national security missions, further strengthening its launch portfolio.
• Future Project Kuiper deployment plans include:
  • 7 more Atlas V launches
  • 38 Vulcan Centaur launches
  • Additional launches via Arianespace, Blue Origin, and SpaceX
• Amazon expects to begin customer service by late 2025, focusing initially on remote and underserved areas, directly competing with SpaceX’s Starlink.

CURRENT AFFAIRS: MOUS ANDS AGREEMENT

Memorandum of Understanding Signed Between Ministry of Labour & Employment and Rapido to Boost Job Opportunities via National Career Service Portal

• The Ministry of Labour & Employment signed a Memorandum of Understanding (MoU) with Rapido in New Delhi, aiming to strengthen employment linkages in the logistics sector through the National Career Service (NCS) portal.

Key Highlights of the MoU

• National Career Service (NCS) portal — a central government initiative with 1.75 crore job seekers and 40 lakh employers registered.
• Create 50 lakh livelihood opportunities over the next 1–2 years through the NCS platform.
• Promote inclusive employment, especially for women and youth.
• Enable hyperlocal job matching, domestic and international placements, and real-time hiring through API integration.
• Women Empowerment: Rapido’s “Pink Rapido” initiative aims to provide 5 lakh jobs for women.
• Digital Empowerment: Structured onboarding, job awareness, and access to worker welfare schemes.
• NCS is now integrated with platforms such as My Bharat, eShram, SIDH, MEA – eMigrate, and others.

RECENT NEWS

• In April 2025, the Ministry of Labour & Employment signed a Memorandum of Understanding (MoU) with Swiggy to enhance employment opportunities in the growing gig and logistics sector.

India–Egypt Cooperation on Skilling Strengthened During High-Level Visit

• The Ministry of Skill Development and Entrepreneurship (MSDE) hosted a high-level Egyptian delegation led by E. Prof. Dr. Ayman Bahaa El Din, Deputy Minister of Technical Education in New Delhi, aiming to strengthen bilateral cooperation in technical and vocational education and training (TVET).

Key Highlights

• Organizers and Facilitators:
  • Meeting organized by MSDE, Government of India.
  • Facilitated by GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit) offices in India and Egypt.
• Strategic Context:
  • Builds on the 2023 elevation of India-Egypt relations to a Strategic Partnership.
  • Follows Egypt conferring its highest civilian honour on Prime Minister Narendra Modi.

India’s Contributions and Vision

• Skill India Mission Achievements:
  • Over 4 lakh individuals trained in advanced technologies like AI, robotics, and big data.
  • Over 1.3 million entrepreneurs nurtured.
• Global Outreach:
  • Development of Skill India International Centres.
  • Aligning India’s TVET ecosystem with global standards.

Future Cooperation Areas Identified

1. Joint certification programmes
2. Faculty and student exchanges
3. Digital skilling & entrepreneurship initiatives
4. Centres of Excellence in:
   • IT
   • Agriculture
   • Tourism
   • Green Skills

RECENT NEWS

• In February 2025, India and Egypt launched the third edition of their joint special forces exercise, ‘CYCLONE-III’, at the Mahajan Field Firing Ranges in Rajasthan.

About Egypt

• Capital: Cairo
• Currency: Egyptian Pound
• President: Abdel Fattah El-Sisi
• Prime minister: Mostafa Madbouly

CURRENT AFFAIRS: OBITUARY

Brazil World Cup Winner Jair Da Costa Died At 84

• Jair da Costa, a member of Brazil’s 1962 FIFA World Cup-winning squad, has died at the age of 84, the Brazilian Football Confederation (CBF)
• Jair began his professional career at Portuguesa and later rose to fame with Inter Milan, where he won:
  • 4 Italian Serie A titles
  • 2 European Cups (now UEFA Champions League)
  • 2 Intercontinental Cups
• Jair was Garrincha’s reserve in Brazil’s 1962 World Cup squad, considered one of the most iconic teams in football history.
• Portuguesa, where Jair played from 1960 to 1962, also honored him, noting he was “one of the first Brazilians to play in Europe.”
• In Italy, Jair became a central figure in “Grande Inter”, the legendary Inter Milan side coached by Helenio Herrera.
• He later played for Roma, and after returning to Brazil, he joined Santos, winning the 1973 Campeonato Paulista.
• Jair ended his professional career in 1976 with Windsor Star in Canada, closing a career marked by international success and club glory.

Ex-Vice Chief of Army, Lt General S Pattabhiraman, Died At 78

• Former Vice Chief of the Army Lt Gen S Pattabhiraman has passed away at the age of 78.
• Lt Gen Pattabhiraman had an illustrious career, including serving as Colonel Commandant of The Bombay Sappers.
• He retired as Vice Chief of the Army Staff (VCOAS) in 2006, after 40 years of service in prestigious roles.
• He was notably the first Director General of Information Systems of the Indian Army and commanded the Western Command, which is the Indian Army’s largest operational command.

CURRENT AFFAIRS: IMPORTANT DAYS

International Jazz Day 2025: on April 30

• International Jazz Day 2025 is observed on April 30, under UNESCO patronage, to honour jazz music’s role in fostering peace, diversity, dialogue, and mutual understanding.
• Initiated by Herbie Hancock in 2011, the day unites musicians, educators, and communities worldwide through concerts, workshops, and discussions.

Background & Origin

• Established by: UNESCO, 2011
• Key Supporter: Herbie Hancock, UNESCO Goodwill Ambassador and jazz legend

Historical Context

• Early 20th-century United States
• Fusion of African and European musical traditions
• Core Elements: Improvisation, syncopated rhythm, emotional expression

Global Celebrations

• Date: Annually on April 30
• Activities:
  • UNESCO Global Concert (2024 in Tangier, Morocco)
  • Local workshops, masterclasses, panel discussions
  • Live-streamed events for worldwide access

International Labour Day 2025: May 1

• International Labour Day 2025 will be observed on May 1, a day dedicated to recognising the efforts and contributions of workers across sectors.
• This year’s observance is especially significant as it aligns with ongoing efforts to strengthen labour protections, addressing modern workplace challenges such as automation and the rise of informal employment.

Historical Background

• Origins:
  • Date: May 1, 1886
  • Location: United States, where workers began a nationwide strike for an eight-hour workday.
  • Tragic Event: The Haymarket Affair in Chicago, where a bomb blast led to casualties, cemented the movement's significance.
  • In 1889, the Second International declared May 1 as International Workers’ Day to honour the struggle.
• Labour Day in India:
  • First observed: 1923 in Chennai (then Madras) by Labour Kisan Party of Hindustan led by Comrade Singaravelu Chettiar.
  • Red Flag: Symbol of labour rights first used in this event.
  • The day coincides with Maharashtra Day and Gujarat Day, marking the formation of these states in 1960.

Interesting Facts About Labour Day

• Global Observance:
  • It is celebrated in over 80 countries on May 1, but not in the US and Canada, where it’s observed on the first Monday of September.
  • Canada’s first Labour Day was celebrated in 1872, predating the US observance.
  • The colour red is globally associated with labour movements.

Major Government Initiatives

• e-Shram Portal: A national database for unorganised workers.
• PM Shram Yogi Maandhan Yojana: Pension scheme for informal workers.
• MGNREGA: Provides 100 days of wage employment to rural households.
• National Career Service (NCS): A platform for job seekers and employers.

Daily CA One- Liner: May 1

• The Ministry of New and Renewable Energy (MNRE) organized a National Workshop on “Opportunities for MSMEs in the Green Hydrogen Supply Chain” in New Delhi.
• The Ministry of Environment, Forest and Climate Change (MoEFCC) notified the Draft GEI Target Rules, 2025.
• The Union Ministry of Agriculture and Farmers’ Welfare released detailed guidelines for establishing Bio-input Resource Centres (BRCs) under the National Mission on Natural Farming (NMNF).
• Ghaziabad Nagar Nigam (GNN) has become the first Urban Local Body (ULB) in India to issue a Certified Green Municipal Bond, raising ₹150 crore to fund an advanced Tertiary Sewage Treatment Plant (TSTP).
• The Ministry of Labour & Employment signed a Memorandum of Understanding (MoU) with Rapido in New Delhi, aiming to strengthen employment linkages in the logistics sector through the National Career Service (NCS) portal
• The Ministry of Skill Development and Entrepreneurship (MSDE) hosted a high-level Egyptian delegation led by E. Prof. Dr. Ayman Bahaa El Din, Deputy Minister of Technical Education in New Delhi, aiming to strengthen bilateral cooperation in technical and vocational education and training (TVET).
• The Reserve Bank of India (RBI) has launched three major surveys in May 2025 to gather consumer sentiment ahead of its upcoming monetary policy meeting scheduled for June 4–6.
• The Reserve Bank of India (RBI) has issued a directive requiring all regulated financial entities to use the PRAVAAH portal for submitting applications related to licences, authorisations, and approvals starting May 1, 2025.
• Airtel Payments Bank has launched eco-friendly NCMC (National Common Mobility Cards) enabled debit and pre-paid cards.
• Mark Carney, a former banker and political newcomer, led the Liberal Party to a strong electoral performance and will continue as Prime Minister of Canada.
• Kamla Persad-Bissessar will be the next Prime Minister of Trinidad and Tobago.
• The Union Government has reconstituted the National Security Advisory Board (NSAB), appointing former RAW chief Alok Joshi as its new head
• A United Launch Alliance (ULA) Atlas V rocket successfully lifted off on 28 April from Cape Canaveral, initiating the full-scale deployment of Amazon’s Project Kuiper.
• Jair da Costa, a member of Brazil’s 1962 FIFA World Cup-winning squad, has died at the age of 84, the Brazilian Football Confederation (CBF) confirmed.
• Former Vice Chief of the Army Lt Gen S Pattabhiraman has passed away at the age of 78.
• International Jazz Day 2025 is observed on April 30, under UNESCO patronage, to honour jazz music’s role in fostering peace, diversity, dialogue, and mutual understanding.
• International Labour Day 2025 will be observed on May 1, a day dedicated to recognising the efforts and contributions of workers across sectors.