Daily News

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Space System Design Lab Inaugurated in Ahmedabad

The Indian National Space Promotion and Authorization Centre (IN-SPACe) has established a new state-of-the-art space systems design lab for the benefit of startups at its headquarters in Ahmedabad, Gujarat.

IN-SPACe is a single-window, independent, nodal agency under the Department of Space that facilitates private sector participation in Indian space activities.

Did you Know

Dr. Pawan Goenka, Chairperson, IN–SPACe.

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Saudi Arabia joins Shanghai Co-operation Organisation

Saudi Arabia has approved a decision to join the Shanghai Cooperation Organisation (SCO), a political and security union of countries.

SCO was formed in 2001 by Russia, China, and former Soviet states in Central Asia, and has since expanded to include India and Pakistan. The organisation's goal is to promote regional stability and counter western influence in the region.

Did you Know

SCO:
HQ: Beijing, China;
Secretary-General:Zhang Ming.

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NPCI recommends up to 1.1% interchange fee on UPI transactions of over ₹2,000 via PPIs

National Payments Corporation of India notified that an interchange fee of up to 1.1% will be applicable on merchant UPI (Unified Payments Interface)transactions done using prepaid payment instruments (PPIs)–wallets or cards–with effect from April 1.

Charge will be levied on UPI payments of over Rs.2,000 made to online merchants, large merchants and small offline merchants.

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G20: Larry Summers, NK Singh-led panel on multilateral banks to submit report by June 30

The G20 expert group on strengthening multilateral development banks (MDBs), such as the World Bank, has been constituted and given until June 30 to submit its report.

The group, co-chaired by former US Secretary of Treasury Larry Summers and India's NK Singh, chairman of the 15th Finance Commission, will have seven other members.

Did you Know

This is a 11-member expert group.

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IRDAI removes commission cap for insurance agents; replaces it with company-wide limit

Insurance Regulatory and Development Authority of India (IRDAI) has removed the cap on commission payments to agents, aggregators and brokers.

According to new rules the earlier cap on commission payments is now replaced with an overall cap on expenses of management of insurers.

These regulations will come into force from 1 April and will be reviewed once every 3 years.

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BFI president Ajay Singh elected as vice-president of world boxing body

Boxing Federation of India (BFI) president Ajay Singh was elected as the International Boxing Association (IBA) vice-president following the body's board of directors meeting in New Delhi.

The Indian boxing official, who also serves as Spicejet's managing director, will be serving as the third vice president of the board.

Did you Know

IBA:
Headquarters:Lausanne, Switzerland;
President:Umar Nazarovich Kremlev.

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First joint conference of army chiefs of India and African countries held in Pune

The first joint conference of army chiefs of India and African countries was held in Pune on March 28.

Defense Minister Rajnath Singh attended the conference as the chief guest.

This is the first-ever conference of Army Chiefs of these countries.

Army chiefs of 10 countries along with 31 representatives of African countries were present in this conference.

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‘Ironman’ Krishna Prakash becomes first person to swim from Gateway of India to Elephanta Caves

Krishna Prakash, an Indian Police Service (IPS) officer, has made history by becoming the first person to swim from the Gateway of India to the Elephanta Caves in Mumbai, a distance of 16.20 kilometers, in just 5 hours and 26 minutes.

The feat was part of the "Drowning Prevention Awareness" campaign.

Did you Know

In 2017, he completed the Ironman Triathlon, one of the most challenging sports events.

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IDFC First Bank partners Crunchfish to demonstrate offline retail payments

IDFC First Bank has partnered with Swedish company Crunchfish to pilot a project to demonstrate offline retail payments.

Crunchfish designed this unique digital payment solution for merchants and customers under the RBI's Regulatory Sandbox Program.

Regulatory Sandbox was established in 2020 by the Reserve Bank of India (RBI).

Did you Know

IDFC First Bank:
HQ:Mumbai;
MD & CEO: V Vaidyanathan.

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Star Sports signs Bollywood actor Ranveer Singh as its brand ambassador.

The Walt Disney Company India-owned channel Star Sports has signed Bollywood actor Ranveer Singh as its brand ambassador.

The association, the company said, makes the pop culture icon the first actor to be associated with the channel.

Star Sports and Ranveer Singh’s journey as partners starts with the Opening Weekend of Tata IPL 2023 (Mar 31 – Apr 2).

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Government Sanctions Rs 800 Crore For Installing 7,432 EV Fast Charging Stations

Ministry of Heavy Industries said Rs.800 crore under FAME India Scheme Phase II has been sanctioned to three PSU oil marketing companies(OMCs) for setting up 7,432 public fast charging EV stations across India.

The ministry has released Rs 560 crore or 70% of the total amount to three OMCs: IOCL,BPCL and HPCL.

The installation is expected to be completed by March 2024.

Did you Know

At present, there are 6,586 charging stations across the country.

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World Bank Okays $363 Million Loan To Karnataka For Rural Water Supply Programme

World Bank approved a $363 million (Rs 2,988.14 crore) loan to Karnataka to provide clean drinking water supply to 2 million rural households in the state through a piped water connection in their homes.

Almost 77% of Karnataka state is spread across arid or semi-arid region which is vulnerable to climate-change-related variable rainfall.

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India's First Quantum Computing-based Telecom Network Link Now Operational: Ashwini Vaishnaw

While speaking at the 1st international quantum enclave, Telecom Minister Ashwini Vaishnaw said that the quantum communication link is now operational between Sanchar Bhawan and the National Informatics Centre office located in the CGO Complex in the national capital.

He also announced a Rs.10 lakh prize money for ethical hackers who can break the encryption of the system.

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Sagarmala Programme: 70 Projects Worth Rs 2,856 Crore Sanctioned

In a reply to Lok Sabha, Union Ports, Shipping and Waterways minister Sarbananda Sonowal, said that under the Sagarmala Programme so far 15 projects worth Rs 849 crore have been completed.

Under the Sagarmala Programme, 70 projects worth Rs 2,856 crore have been sanctioned for the development of coastal berths, roll-on, roll-off, passenger jetties etc.

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“Swachhotsav 2023- 1000 Cities are targeted to become 3-Star Garbage Free by October 2024”

1000 Cities targeted to become 3-Star Garbage Free by October 2024” said Sh. Hardeep S. Puri, The Hon’ble Minister for Housing and Urban Affairson the occasion of International Zero Waste Day 2023 in New Delhi.

Highlighting the progress in the GFC-Star rating protocol, launched in January 2018 to encourage a competitive, mission-mode spirit among ULBs.

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International Day of Zero Waste - March 30

The International Day of Zero Waste, observed for the first time on 30 March 2023 and jointly facilitated by UNEP and UN-Habitat, aims to raise awareness of the importance of zero waste and responsible consumption and production practices and urban waste management contributing to achieving sustainable development.

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