The Executive Directors of the World Bank on May 3 selected Ajay Banga as 14th President of the World Bank for a five-year term beginning June 2, 2023. Key points Selection process
Category: Economy
National Manufacturing Innovation Survey: Karnataka ranked the most ‘innovative’ State
According to the National Manufacturing Innovation Survey (NMIS) 2021-22, Karnataka, overall, is the most “innovative” State, as far as the degree of innovation among manufacturing firms concerned.
ADB launches Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP)
The Asian Development Bank (ADB) on 2nd May announced the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP).
Derecognition of six Indian clearing corporations by EU ESMA
The European Securities and Markets Authority (ESMA) has de-recognised six Indian clearing houses due to non-compliance with European Market Infrastructure Regulation norms. Key points
Carbon Offfsetting and Reduction Scheme for International Aviation (CORSIA)
International Civil Aviation Organization (ICAO) has been entrusted to facilitate to reduce the carbon emissions from international civil aviation as one of its focus areas. Key points
World Bank Group’s Business Ready project
The World Bank Group has begun work to assess the business and investment climate in up to 180 economies under its flagship Business Ready project. Key points
Rail Vikas Nigam Limited (RVNL) gets Navratna status
Union Finance Ministry gave its approval to upgrade Rail Vikas Nigam Limited (RVNL) to Navratna Central Public Sector Enterprise (CPSE). List of Navratna companies About Rail Vikas Nigam Limited (RVNL)
Price Cap Coalition (PCC)
According to a recent report by the Centre for Research on Energy and Clean Air (CREA), the Price Cap Coalition (PCC) countries that banned Russian oil imports instead imported oil commodities worth €42 billion from India, China, United Arab Emirates, Read More …
World Development Report 2023: Migrants, Refugees, and Societies
The World Development Report 2023: Migrants, Refugees, and Societies was released by the World Bank. Key findings
Alternative Investment Funds (AIF)
The Securities and Exchange Board of India (Sebi) has recommended that the certificate of registration of eight alternative investment funds (AIFs) be cancelled for non-compliance of AIF regulations and failure to file periodic reports. About Alternative Investment Funds (AIF)
Tamil Nadu Assembly passes Factories (Amendment) Act 2023
The Tamil Nadu Assembly, on April 21, passed Tamil Nadu Factories (Amendment) Act 2023 amending the Factories Act, 1948, which extends the daily working hours from 8 to 12 hours for factory workers. Key points
Markets in Crypto Act (MiCA): EU Parliament approves world’s first comprehensive framework for crypto regulation
The European Parliament have approved the world’s first comprehensive package of rules aimed at regulating the cryptocurrency industry. Key features of Markets in Crypto Act, or MiCA
Ministry of Civil Aviation Launches UDAN 5.0
The Ministry of Civil Aviation has launched the 5th round of the Regional Connectivity Scheme (RCS) – Ude Desh Ka Aam Nagrik (UDAN) to further enhance the connectivity to remote and regional areas of the country and achieve last mile Read More …
PM Mitra Park launched in Lucknow and Hardoi
A Memorandum of Understanding (MoU) was signed to set up Integrated Textile Park in 1,000 acres in Lucknow and Hardoi districts of Uttar Prdesh under PM Mega Integrated Textile Sector and Apparel (PM Mitra). Key points
SATHI (Seed Traceability, Authentication and Holistic Inventory) Portal
Union Agriculture and Farmers Welfare Minister Shri Narendra Singh Tomar on April 19 launched the SATHI (Seed Traceability, Authentication and Holistic Inventory) Portal and Mobile App.