The World Economic Situation and Prospects as of mid-2023, released by UN, said India’s economy, the largest in the South Asian region, is expected to expand by 5.8% in 2023 and 6.7% in 2024 (on a calendar year basis), supported by resilient domestic demand.
Inflation in India is expected to decelerate to 5.5 per cent in 2023.
Union Minister for Communications Ashwini Vaishnaw launched a Citizen Centric Portal named Sanchar Saathi Portal at a function in New Delhi through which mobile users can now track and block their lost mobile phones.
The Sanchar Saathi Portal is an initiative of Department of Telecommunications.
3 modules have been added to the portal - CIER, Know Your Mobile and ASTR.
The Chemicals and Petrochemicals Manufacturers‘ Association (CPMA) of India hosted the 41st edition of the Asia Petrochemical Industry Conference 2023 (APIC 2023) in New Delhi on 18-19 May.
The theme of the event was “Ushering in a Sustainable Future”.
The APIC is a broad-based petrochemical industry conference with membership from 7 partner countries.
APIC 7 partner countries: India, Japan, Korea, Malaysia, Singapore, Taiwan and Thailand.
One97 Communications Limited (OCL), which owns Paytm, has elevated Bhavesh Gupta as the company’s Chief Operating Officer and President.
Gupta, who was previously Paytm's senior vice-president, will now be responsible to lead verticals on insurance, lending, payments — online and offline, and consumer payments as well as drive key initiatives.
Paytm's managing director and CEO: Vijay Shekhar Sharma.
The 49th G7 summit was held from 19 to 21 May 2023 in Hiroshima, Hiroshima Prefecture, Japan.
Prime Minister Narendra Modi met Ukrainian President Volodymyr Zelensky on the sidelines of the G7 Summit in Japan's Hiroshima.
He also unveiled a bust of Mahatma Gandhi in the Japanese city Hiroshima, site of the world's first nuclear attack.
Japan’s Prime Minister Fumio Kishida invited Modi to the G-7 Summit as a guest.
The 3-day international event South Asian Youth Table Tennis Championship 2023 concluded in Itanagar, Arunachal Pradesh.
Indian contingent bagged all gold medals that were on offer, here on the final day of the event at the Dorjee Khandu Indoor Stadium.
In the Under-19 Boys singles, Ankur Bhattacharjee defeated Payas Jain.
Suhana Saini won the Under-19 Girls singles.
V.Prraneeth became Telangana’s sixth and India’s 82nd Grandmaster when he outwitted GM Hans Niemann of US in the penultimate round of Baku Open 2023.
15-year-old Prraneeth earned his first GM-norm at First Saturday GM March 2022 where he also became an IM & his second GM-norm at Biel MTO in July 2022. He earned his final GM-norm at 2nd Chessable Sunway Formentera Open 2023.
The Indian market regulator, proposed changes in the framework of investment funds, Uniform total expense ratio, market malpractices, and registration of Foreign Venture Capital Investors.
As per the proposal, SEBI suggested that the Category I and Category II AIFs should not borrow funds directly or indirectly for making investments.
According to Sebi, multistate cooperatives with net worth of more than Rs 500 crore should be classified as QIBs. Besides, Non-banking financial companies (NBFCs), housing finance companies regulated by the Reserve Bank of India (RBI), small finance banks, reinsurance companies, pension funds, and refinancing agencies such as MUDRA should be included in the category of QIB.
The Ministry of Cooperation said these additional 1100 FPOs have been allocated to National Cooperative Development Corporation (NCDC) under FPOs’ Scheme.
Under the FPO Scheme, financial assistance of 33 lakh rupees is provided to each FPO. Further, financial assistance of 25 lakh rupees per FPO is provided to the Cluster Based Business Organizations.
The Union Cabinet approved the signing of memorandum of understanding between Competition Commission of India (CCI) and Egyptian Competition Authority (ECA).
The MoU envisages promotion and strengthening of cooperation in competition law and policy through exchange of information, sharing of best practices as well as through various capacity building initiatives.
National Anti-Terrorism Day is observed in India on May 21 every year to raise awareness about the importance of combating terrorism and promoting peace and harmony in society.
India observes National Anti-Terrorism Day on 21 May every year to commemorate the death of former Prime Minister Rajiv Gandhi.
Gandhi, the sixth PM of India, was assassinated by LTTE in 1991.
The Government of Israel is partnering with India through Indian Institute of Technology Madras (IIT-M) to establish an India-Israel Center of Water Technology (CoWT) in water resources management and water technologies at IIT-M.