Indian Chess Prodigy, Vaishali Ramesh Babu, has officially been awarded the title of Grandmaster by FIDE, the International Chess Federation. This remarkable achievement makes Vaishali the third Indian female Grandmaster, joining Koneru Humpy and Harika Dronavalli.
Vaishali’s promotion to Grandmaster title carries a unique distinction, as she and her brother, Rameshbabu Praggnanandhaa, became the world’s first Grandmaster brother-sister duo. Vaishali completed the requisite 2500 ELO points at the Llobregat Open tournament in Spain, last year.
May 1 is observed as “May Day”, also referred to as “International Workers’ Day” and “Labour Day” in different countries across the world. The day commemorates the contributions of workers, and the labour movement. The origins of International Labour Day can be traced back to the late 19th-century labour movement in the United States.
The specific date of May 1st was chosen to commemorate a nationwide strike for an eight-hour workday that commenced on that day in 1886. It's a day dedicated to honouring the contributions of working people in every industry and sector.
Senior Indian Information Service officer, Maushumi Chakravarty assumed the charge of Director General of Akashvani News. A 1991 batch IIS officer, Ms Chakravarty has vast experience of working in several media organisations of the I&B Ministry, including the Press Information Bureau and Central Bureau of Communication.
All India Radio (AIR) aka Akashvani, is an Indian state-owned public radio broadcaster founded by the Government of India, owned by the Ministry of Information and Broadcasting and one of Prasar Bharati's two divisions. It was established in 1936.
The Gross Goods and Services Tax (GST) revenue collections for April this year have recorded the highest ever collection of two lakh ten thousand crore rupees. Union Finance Ministry said, this represents a significant 12.4 per cent year-on-year growth, driven by a strong increase in domestic transactions and imports.
It said, out of the total collection in April this year, Central Goods and Services Tax is over 43 thousand crore rupees, State Goods and Services Tax is over 53 thousand crore, Integrated Goods and Services Tax is over 99 thousand crore and cess is over 13 thousand crore rupees.
The Ministry said, after accounting for refunds, the net GST revenue for April 2024 stands at one lakh 92 thousand crore rupees, reflecting an impressive 15.5 per cent growth compared to the same period last year.
The Securities and Exchange Board of India (Sebi) allowed non-resident Indians (NRIs) to own up to 100 per cent in global funds at the GIFT City and gave passive funds more exposure to group companies.
Currently, NRIs and Overseas Citizens of India (OCIs) cannot own more than 50 per cent in a foreign portfolio investor (FPI).
Moreover, such FPIs will still have to adhere to the granular disclosure norms on economic interest and ultimate ownership issued by the regulator in August last year.
The move will ensure that the NRI route is not used to circumvent rules such as the 25 per cent minimum public shareholding requirement.
Mutual fund (MF) schemes, at present, can invest not more than 25 per cent of their net asset value (NAV) in group companies of the sponsor. The limit has been raised to 35 per cent for passive funds, subject to certain conditions.
Financial services platform Groww and digital payment processing company Worldline ePayments have secured RBI licence to operate as online payment aggregators. With this, the number of firms getting the Reserve Bank of India (RBI) nod to operate as payment aggregators has touched 20 in the first four months of calendar year 2024.
Groww has secured the licence for its UPI payments platform Groww Pay. This year major players such as Amazon Pay, Digio, CCAvenue, Decentro, MSwipe, Tata Pay, Zoho, Zomato, among others received a final nod from the banking regulator to operate as payment aggregators.
The growth in output of eight key infrastructure industries slowed to 5.2% year-on-year in March from 7.1% in February on the back of a sequential deterioration recorded by five of its constituents. Output decelerated in sectors like coal (8.7%), crude oil (2%), natural gas (6.3%) and steel (5.5%) during March, according to Ministry of Commerce and Industry data.
Overall in FY24, growth in the core sector stood at 7.5 per cent as against 7.8 per cent in FY23. All the eight constituent sectors registered positive growth during the financial year with output of steel (12.3 per cent) leading the chart, followed by coal (11.7 per cent), cement (9.1 per cent), and electricity (7 per cent) in FY24.
The eight core industries account for 40.27 per cent weighting of items included in the Index of Industrial Production (IIP) and, thus, have a significant impact on the index.
Corporate Affairs Ministry (MCA) has given its nod for appointment of Hitesh Kumar Sethia as Managing Director and CEO of Jio Financial Services for three years period from November 15,2023. The MCA approval is under and in respect of the provisions of the Companies Act 2013.
Supersonic Missile-Assisted Release of Torpedo (SMART) system was successfully flight-tested from Dr APJ Abdul Kalam Island off the coast of Odisha. This canister-based missile system consists of several advanced sub-systems, namely two-stage solid propulsion system, electromechanical actuator system, precision inertial navigation system etc.
SMART is a next-generation missile-based light-weight torpedo delivery system, designed and developed by the Defence Research and Development Organisation to enhance the anti-submarine warfare capability of the Indian Navy far beyond the conventional range of lightweight torpedo. The system carries advanced light-weight torpedo as payload along with parachute-based system.
India has cut its windfall tax on petroleum crude to 8,400 Indian rupees ($100.66) a metric ton from 9,600 rupees with effect from May 1, the government said. The tax, which is revised every fortnight, was left unchanged at zero for diesel and aviation turbine fuel.
A windfall tax is a higher tax imposed on specific industries when they make unusual and above-average profits. The term “windfall” refers to an unexpected rise in profits, and the tax on windfall gains is known as the windfall tax.
World Tuna Day, observed annually on May 2 is dedicated to raising awareness about the critical importance of tuna conservation. Tuna is popular for its numerous health benefits, as it provides Omega-3 fatty acids, protein and vital vitamins. In 2016, the United Nations General Assembly officially declared May 2 as World Tuna Day.
The United Nations established World Tuna Day to promote sustainable fishing practices and safeguard tuna populations for future generations. This day serves as an opportunity to educate people about the challenges facing tuna and to advocate for balanced fishing practices that ensure the long-term health and viability of tuna stocks.
Sri Lanka’s Cabinet has approved the plan to renovate the Kankesanthurai port in the Northern part of the island. The project will be executed under an Indian financial grant. The project had faced delays as estimated costs surpassed available funds. Recognizing the project’s significance, India has pledged to cover the entire estimated cost of the project.
Sri Lanka cabinet had mentioned that the project’s full cost was $61.5 million. Situated in the northern region of Sri Lanka, the 16-acre Kankesanthurai Port or KKS Port, is located 104 km from Karaikal Port in Pondicherry, India. India’s pledge to cover the entire estimated cost of 61.5 million dollars under a grant given the significance of the project.
