Table of Contents
Banking & Finance
RBI turns 87, marches on to its 88th year
The Reserve Bank of India (RBI) has turned 87 on April 1, 2022.
The Reserve Bank of India Act, 1934 (II of 1934) establishes the legal framework for the Bank’s operations, which began on April 1, 1935.
The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved
to Mumbai in 1937.
RBI extends deadline for implementation of cassette swap in ATMs by a year
The Reserve Bank of India has extended the timeline for implementation of cassette swap in all ATMs by banks by one year till March 31, 2023. The extension of the deadline for implementation of cassette swap in ATMs comes following representations RBI received from various banks and the Indian Banks’ Association expressing difficulties in meeting the timeline. This is second extension of the timeline that
the central bank has given to banks.
HDFC Bank adjudged Best Performing Bank in SHG Linkage by NRLM, Ministry of Rural Development, Govt of India
HDFC Bank has been adjudged Best Performing Bank in SHG Linkage by National Rural Livelihood Mission (NRLM), Ministry of Rural Development, Govt of India.
At a function organised at Vigyan Bhavan, New Delhi, the award was presented by Shri Giriraj Singh, Hon’ Minister of Rural Development to Mr. K Venkatesh, Head ‘ Sustainable Livelihood Initiative, HDFC Bank. Notably, HDFC Bank was the only Private Bank to be felicitated.
RBI imposes Rs 5,000 withdrawal cap on Shushruti Souharda Sahakara Bank
The Reserve Bank of India (RBI) imposed restrictions on Shushruti Souharda Sahakara Bank Niyamita, Bangalore.
Restrictions include granting or renewing any loans and advances or take deposits without approval from the RBI. The restrictions will remain in force for six months.
April 6-8, The first bi-monthly monetary policy of 2022-23, RBI keeps rates unchanged
The Monetary Policy Committee raised the inflation forecast for the fiscal year to 5.7% percent, from 5.5 percent citing rising commodity prices. Economic growth forecast has been cut to 7.2 percent, from 7.8 percent as supply disruptions lessen output and high prices destroy demand. The FY23 GDP projection has assumed crude oil prices at $100 per barrel.
RBI starts SDF to raise effective policy rate
The Reserve Bank of India (RBI) has effectively raised the policy rate by 40 basis points by introducing a standing deposit facility (SDF), through which it seeks to suck out excess liquidity in the system, but without offering any collateral to banks.
Karbon Card launches new Payout product for startups and SMBs
Karbon Card, a corporate card provider and an emerging Neobank for the new-age startups and SMBs, announced launching a new Payout product making the salary payments easier and faster. Karbon: Founded in 2019 by Kartik Jain, Pei-fu Hsieh, Amit Jangir, and Sunil Kumar.
Karnataka Vikas Grameena Bank launches new deposit scheme
Chairman of Karnataka Vikas Grameena Bank P. Gopi Krishna launched a new deposit scheme of the bank, Vikas Siri Sampat-1111.
The scheme is of a tenor of 1,111 days with interest rate of 5.70% for general public and 6.20% for senior citizens.
It also offers the highest rate of annualised return of 6.03% for general public and 6.60% for senior citizens.
RBI imposes penalties on Axis Bank, IDBI Bank
Reserve Bank of India said it has imposed a penalty of Rs 93 lakh on Axis Bank for various violations,
including KYC guidelines. The central bank has also slapped a fine of Rs 90 lakh on IDBI Bank. The
penalties are based on deficiencies in regulatory compliance and is not intended to pronounce upon the
validity of any transaction or agreement entered by customers.
RBI: NBFCs-UL, NBFCs-ML to have compliance function by April 1, CCO by Oct 1, 2023
Non banking finance companies in the Upper Layer and Middle Layer should put in place a board
approved policy and compliance function including the appointment of a Chief Compliance Officer latest
by April 1, 2023 and October 1, 2023, respectively. This follows the RBI’s guidelines on Scale Based
Regulations for NBFCs.
Kotak pauses crypto trade with CoinSwitch Kuber
The private sector bank KOTAK has discontinued – at least temporarily – handling payments for trades
with CoinSwitch Kuber, a large crypto intermediary.
Kotak’s stand could deal a blow to the unregulated industry. It follows digital wallet MobiKwik reportedly
snapping its links with crypto-related payments since the beginning of April.
MobiKwik had emerged as the sole payment option for the bulk of crypto traders
HDFC Bank to raise Rs 50,000 cr via bonds; re-appoints Renu Karnad as director
HDFC Bank said it will raise up to Rs 50,000 crore in the next one year by issuing bonds aimed at
financing infrastructure and affordable housing loan requirements of the customers.
It also informed that the board has approved to re-appoint Renu Karnad as non-executive director on
the board of the bank for a period of five years with effect from September 3, 2022.
Kotak Mahindra Bank launches Kotak FYN
Kotak Mahindra Bank (KMBL) has launched the Kotak FYN, its new enterprise portal exclusive for
Business Banking and Corporate clients.
The bank’s customers can use the portal to carry out all trade & services transactions.
By the last quarter of 2022, the Kotak FYN portal will include many other services, including account
services, payments and collections.
World’s First “Crypto-Backed” Payment Card Launched By Mastercard And Nexo
Crypto lender Nexo has teamed up with global payments company Mastercard to launch what it calls
the world’s first “crypto-backed” payment card.
It signals the latest move by crypto and incumbent financial networks to join forces as digital assets
become more mainstream.
Electronic money firm DiPocket is Nexo’s card issuer.
Chinese banks continue to dominate; ICICI latest Indian entrant among top banks in APac
The assets size of the country’s top banks has improved in 2021 with State Bank of India (SBI) and
HDFC Bank climbing up two notches in the latest S&P Global Market Intelligence’s ranking of the AsiaPacific’s largest banks. What’s more, the third-largest lender ‘ ICICI Bank ‘ has found a place in the
league table with the rank of 50.
India Post Payments Bank launches ‘Fincluvation’
On the occasion of the 75th anniversary of Indian Independence & ongoing Azadi ka Amrit Mahotasav,
India Post Payments Bank (IPPB), a 100% government owned entity under Department of Posts (DoP)
announced the launch of Fincluvation’ a joint initiative to collaborate with Fintech Startup community to
co-create and innovate solutions for financial inclusion.
RBI Launches Business Sentiment Assessment Survey
The Reserve Bank of India (RBI) has launched the 98th round of the quarterly industrial outlook survey of the country’s manufacturing sector for the reference period April-June 2022.
The survey assesses business sentiment for the first quarter of 2022-23 and expectations for the ensuing quarter July-September 2022-23 period. Genesis Management & Market Research Pvt Ltd has been authorised to conduct the survey.
RBI sets 3-year deadline for non-individual borrowers to obtain Legal Entity Identifier (LEI) codes.
The Reserve Bank of India set a three-year timetable for non-individual borrowers with aggregate exposures of Rs 5 crore or more to obtain LEI.
Those with exposure above Rs 25 crore will have to get LEI code on or before April 30, 2023; exposure
between Rs.10 to 25 crore by April 30,2024 and those with Rs.5 and 10 crore exposure on or before April 30,2025. The LEI is a 20-character alpha-numeric code.
RBI issues new rules, penalties for credit & debit cards effective from July 1, 2022
Banks with a net worth of Rs 100 crore and above are permitted to undertake credit card business
either independently or in tie-up arrangement with other card issuing banks/NBFCs.
Urban cooperative banks (UCBs) with minimum networth of Rs 100 crore and a core banking solution in
place can also issue credit cards after RBI approval.
RBI has also introduced penalties to be levied on banks & NBFCs in case of non-compliance
BHIM UPI goes live on NEOPAY terminals in UAE
NPCI International Payments Ltd (NIPL), the international arm of the National Payment Corporation of
India said BHIM UPI is now live on NEOPAY terminals, across the UAE.
NIPL and NEOPAY, the payment subsidiary of Mashreq Bank, partnered last year, to create the
acceptance infrastructure in the UAE.
CEO: NIPL: Ritesh Shukla; NEOPAY: Vibhor Mundhada
International Financial Services Authority issues framework for investment funds
As per IFSCA(Fund Management) Regulations, 2022, a Fund Management Entity will be registered with
IFSCA and will be able to manage different types of funds and schemes subject to meeting the eligibility
criteria.
Venture Capital Schemes or non-retail schemes soliciting money from accredited investors only shall
qualify for a green channel etc.
RBI imposes Rs 1.12 crore penalty on Bank of Maharashtra
This penalty has been imposed in the exercise of powers vested in RBI under the provisions of section
47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949 (the Act), it added.
RBI has also imposed a monetary penalty of Rs 25 lakh on Haryana State Co-operative Apex Bank
Limited for non-compliance with its directions on Housing Finance. It has also imposed a monetary
penalty of Rs 12 lakh on Rajkot Nagarik Sahakari Bank Ltd.
SBI Cards expands partnership with TCS to transform customer onboarding experience
Tata Consultancy Services (TCS) announced the expansion of its decade-long partnership with SBI Cards and Payments Services to power the latter’s next leg of digital transformation.
The future-ready, agile platform TCS had built in run up to the company’s IPO in 2020, personalised customer experience and helped boost sales and retention.
Airtel Payments Bank offers FD facility in tie-up with IndusInd Bank
Airtel Payments Bank has launched the fixed deposit facility in partnership with IndusInd Bank, offering interest rates of 6.5 per cent and above and an option of premature withdrawal without any penalty.
With the launch of the fixed deposits (FD) facility, Airtel Payments Bank has further strengthened its
digital banking portfolio.
Economy
GST collections hit all-time high of Rs 1.42Lcr in March
The gross collection of goods and service tax (GST) soared to an all-time high of over Rs 1.42 lakh
crore in March aided by the rationalization of rates and aggressive anti-evasion measures.
GST cess collections amounted to Rs 9,417 crore (including Rs 981 crore collected on import of goods).
India Ratings slashes India’s FY23 GDP forecast to 7%-7.2% from 7.6%
India Ratings cut its real GDP growth forecast for FY23 to 7-7.2 percent from 7.6 percent seen earlier,
on the back of higher commodity prices due to Russia’s invasion of Ukraine. Ind-Ra’s India GDP forecast
cut comes a day after ICRA Ltd cut its FY23 growth forecast to 7.2 percent from 8 percent.
Deadline to ban pooling of money and mutual fund units extended to July 1 by SEBI
The deadline to ban the pooling of money and mutual fund units was extended to July 1 by SEBI. As a result, Online platforms and brokers will get some more time to comply with the new Sebi guidelines on
the pooling of money and mutual fund units. Earlier, Sebi asked these entities to stop pooling money
and mutual funds units from April 1.
ADB projects India’s economy to grow by 7.5 per cent in FY23
Asian Development Bank projected a seven per cent collective growth for South Asian economies in
2022 with the subregion’s largest economy India growing by 7.5 per cent in the current fiscal year
before picking up to eight per cent the next year.
Last week, rating agency ICRA slashed its growth forecast for FY23 to 7.2 per cent from 8 per cent
projected earlier.
Retail inflation rises to 6.95% in March, highest in 17 months
India’s retail inflation surged to a 17-month high of 6.95 per cent in March from 6.07 per cent in the
previous month due to a sharp increase in food prices as per the National Statistical Office (NSO) data.
Retail inflation as measured by the Consumer Price Index (CPI) has remained above the upper limit of
the RBI tolerance band for the third consecutive month. CPI inflation data is released monthly by the
NSO,MoSPI
IMF projects India’s general fiscal deficit at 9.9% of GDP for FY23
India’s general government fiscal deficit (states and Centre combined) has been projected at 9.9 per
cent of GDP for FY23 as rising energy and food prices will put renewed pressure on the fiscal gap, the
International Monetary Fund (IMF) said in its report.
India is the only country among top 10 steel producing nations to register growth in production in Jan-March,2022
India has produced 31.9 million tonnes of steel from January to March,2022 with a growth of 5.9
percent. In March alone, steel production stood at 10.9 million tonnes with 4.4 percent growth rate.
As per the data released by World Steel Association, India is the only country among top 10 steel
producing nations of the world, which has registered growth.
Reliance Industries becomes first Indian firm to hit Rs 19 lakh crore market valuation mark
Reliance Industries Limited became the first Indian company to hit the Rs 19 lakh crore market
valuation mark following a rally in its share price.
The market heavyweight stock jumped 1.85 per cent to its record high of Rs 2,827.10 on the BSE.
In March this year, the company’s market valuation had gone past Rs 18 lakh crore.
Core Industries grow by 10.4% during FY 2021-22; steel, cement and natural gas lead the way
The cumulative growth rate of Index of Eight Core Industries (ICI) during April-March 2021-22 was
10.4% (provisional) as compared to the corresponding period of last Financial Year. The combined
Index of Eight Core Industries stood at 157.3 in March 2022, which increased by 4.3 per cent
(provisional) as compared to the Index of March 2021.
National
Nehru Museum to be renamed as PM Museum to commemorate the work done by all the former PMs of India
The Central government decided to change the name of Nehru Museum in New Delhi.
The new name given to it is PM Museum. This has been done to recollect and save the memories of the
14 former Prime Ministers of India.
Inauguration will be done on 14 April, Ambedkar Jayanti by Prime Minister Narendra Modi.
Minister of State, Culture & External Affairs, Smt. Meenakshi Lekhi inaugurates ‘Temple 360’ website
Minister of State for Culture & External Affairs, launched the website ‘Temple 360’ in an event organized
by the Ministry of Culture at IGNCA Ampitheatre, Indira Gandhi National Centre of Arts, New Delhi
under the aegis of Azadi Ka Amrit Mahotsav. Temple 360 is a website where one can visit a temple of
their choice, anytime and from anywhere in India.
NCW Launches Anti-Human Trafficking Cell
The National Commission for Women launched an Anti-Human Trafficking Cell to improve effectiveness
in tackling cases of human trafficking, raising awareness among women and girls, capacity building and
training Anti Trafficking Units, and increasing the responsiveness of law enforcement agencies.
Army Dedicates First Floating Hamlet On Srinagar’s Dal Lake To Citizens
The Army dedicated the soft launch of Kashmir’s first floating hamlet on the famous Dal Lake in
Srinagar to the people of Jammu and Kashmir. The soft launch of Kachri Mohalla as a sample tourist
floating village was done by General Officer Commanding, Chinar Corps, Lieutenant General D P
Pandey, and Divisional Commissioner, Kashmir, Pandurang K Pole.
RPF conducts month long Pan India Drive against touts under Operation Upalabdh
With the restoration of long-distance train services and the likelihood of the festival and summer rush, a
sharp rise in demand for reserved train accommodation was expected in March 2022. Taking note of the
input, Railway Protection Force geared up its efforts and launched a pan India drive against activities of
touts under Operation Upalabdh throughout the country.
Hon’ble Vice President Sri M. Venkaiah Naidu inaugurates the 3-day Rashtriya Sanskriti Mahotsav at NTR Stadium
Chief Guest and Hon’ble Vice-President of India, Sri M. Venkaiah Naidu inaugurated the biggest and
most colourful cultural extravaganza in the recent past, Rashtriya Sanskriti Mahotsav (RSM) 2022, the
three-day National Cultural Festival of India, organised by the Ministry of Culture, Government of India,
at the NTR stadium, Hyderabad.
CIC Uday Mahurkar’s office sets new record, disposes of 5,056 RTI appeals
The Central Information Commissioner (CIC) Uday Mahurkar took to Twitter to share a new milestone
where he stated that his court had disposed of 5056 Right to Information (RTI) appeals in 2021-22,
which is the highest in a year since the enactment of the RTI Act in 2005.
Uday Mahurkar was appointed as the CIC in October 2020.
UP Overtakes West Bengal as Leading Producer of Vegetables, AP Maintains Dominance in Fruits
After two years, Uttar Pradesh has reclaimed its status as the leading producer of vegetables, relegating
West Bengal to second place, although the difference between the two is now more than a million
tonnes. Andhra Pradesh, on the other hand, continues to be the leading fruit producer.
Ayush Ministry to celebrate Yoga Mahotsav at Red Fort on World Health Day
Ayush Ministry will celebrate Yoga Mahotsav on World Health Day at Red Fort in New Delhi. Union Ministers will demonstrate Common Yoga Protocol on 75th day of the countdown of the
International Day of Yoga. During the event, Members of the Parliament, Ambassadors of various countries, prominent Sports Celebrities and Yoga Gurus will participate.
Tata Power commissions solar plant, India’s largest single-axis tracker system
Tata Power arm Tata Power Renewables has commissioned a 300 MW solar plant in Dholera, Gujarat
with the country’s largest single-axis solar tracker system. The project will generate 774 MUs annually. Along with this, it will reduce approximately 704340 MT/year of carbon emission. The installation entails 873012 numbers of Monocrystalline PV Modules.
New scheme to set up ‘Hobby Hubs’ in Delhi government schools in works
A project to set up ‘Hobby Hubs’ in government schools in Delhi with after-school dance, music, arts
and crafts activities during this new academic session is in the works.
For the 2022-2023 academic session, this project will only be implemented in single shift government
schools.
Department of Animal Husbandry and Dairying launches ‘One Health’ pilot project in Uttarakhand
The Department of Animal Husbandry & Dairying (DAHD), Government of India has initiated the launch
of a pilot project in the state of Uttarakhand to implement the One Health Framework by One Health
Support Unit.
The key objective of the Unit is to develop a national One Health roadmap based on the learnings of the
pilot project implementation.
UGC to establish Bhima Bhoi chairs at Delhi University and Guru Ghasidas University in Chhattisgarh
The University Grants Commission will establish Bhima Bhoi chairs at the University of Delhi and Guru
Ghasidas University in Bilaspur in Chhattisgarh.
The decision follows Union Education Minister Dharmendra Pradhan’s suggestion to UGC to conduct
extensive research on the life and philosophy of the saint-poet Bhima Bhoi of Odisha.
India’s first case of XE variant of coronavirus disease reported from Mumbai
India’s first case of the XE variant of the coronavirus disease (Covid-19) was reported in Mumbai.
Results of the 11th genome sequencing declared by the city civic body Brihanmumbai Municipal
Corporation (BMC,) found one sample positive for XE variant and another for Kappa variant.
Cabinet nod to distribute fortified rice under central schemes
In a move aimed at reducing malnutrition in the country, the Union cabinet approved a scheme to
distribute fortified rice under various government programmes. This will provide nutrition to every poor
person of the country to overcome malnutrition and lack of essential nutrients in women, children and
lactating mothers.
South-Central Railway launches ‘One station One Product’ initiative at 6 major stations
The South-Central Railway (SCR) has launched the ‘One station One Product’ initiative at 6 major
stations in all its six divisions. The stalls have also been opened at Kacheguda beside Vijayawada,
Guntur and Aurangabad Stations. The Government had announced the new initiative in the General
Budget 2022-23 and is already under trial at Tirupati. South-Central Railway Headquarters:
Secunderabad.
AAI Airports providing platform to Self-Help Groups for promotion of local artisans and products through ‘AVSAR’ Scheme
In the line with the vision of Prime Minister Shri Narendra Modi to encourage the talent of women,
artisans and craftsmen and provide them with the right opportunities, Airport Authority of India (AAI)
has taken an initiative to allocate space to Self Help Groups (SHGs) at its airports for selling/showcasing
the self-made products of their region.
Ministry of Youth Affairs and Sports releases contribution of USD 72,124 to UNESCO Fund for Elimination of Doping in Sport
As per the resolution of 7COP held in Paris, 29-31 September 2019, the State Parties had agreed to 1%
of the contribution of the regular budget of the respective nation to UNESCO towards the Fund for the
Elimination of Doping in Sport.
First time in 2021, the Government of India, Ministry of Youth Affairs & Sports made a contribution of
USD 28172 towards the UNESCO Fund.
Union Civil Aviation Minister Jyotiraditya Scindia flagged off Dornier, the First Made-inIndia Commercial Flight.
Alliance Air’s made-in-India Dornier 228 aircraft was deployed for its first commercial flight on
Dibrugarh (Assam)-Pasighat (Arunachal Pradesh) route.
The Centre-run Alliance Air had in February signed an agreement with the government-owned Hindustan Aeronautics Limited to lease two 17-seater Dornier 228 aircraft. The airline received its first Dornier 228 on April 7. It was India’s first commercial airline to fly Indian-made aircraft for civil operations.
After Hyderabad, Mumbai Recognised As A ‘Tree City Of The World’
Mumbai has been recognised as the “2021 Tree City of the World” by the Food and Agriculture
Organisation of the United Nations jointly with Arbor Day Foundation, Department of Public Relations.
Mumbai city is now part of an important global network leading the way in urban and community
forestry.
Previously, Hyderabad was the only city in India to receive this honour.
The city of Mumbai is also known as ‘Dream City’.
Domestic patent filings surpass international ones after 11 years
The number of domestic patent filing has surpassed the number of international patent filing during
January-March 2022 for the first time in 11 years, the commerce and industry ministry said in a
statement.
This means that of the total 19,796 patent applications filed, 10,706 (54 per cent) were filed by Indian
applicants as compared to 9,090 by non-Indian applicants.
PM Sh. Narendra Modi inaugurates Pradhanmantri Sangrahalaya
Prime Minister Narendra Modi inaugurated Pradhanmantri Sangrahalaya, which will showcase the
contributions of all the former Prime Ministers since independence.
The logo of the Sangrahalaya represents the hands of the people of India holding the Dharma Chakra
symbolizing the nation and democracy.
There are a total of 43 galleries in the Sangrahalaya.
Nation pays homage to Dr BR Ambedkar on his 131st birth anniversary
The nation pays homage to the Chief Architect of Indian Constitution Dr BR Ambedkar on his 131st birth
anniversary.
Several functions have been organised throughout the country to mark the occasion. Floral tributes will
be paid at Babasaheb’s Statue in the Parliament House Complex.
Government launches country’s biggest ever Quiz Contest “Sabka Vikas Mahaquiz”
MyGov under the Ministry of Electronics and Information Technology is organising the Sabka Vikas
Mahaquiz Series, which is part of an outreach effort to build awareness in citizens. The quiz aims to
sensitise the participants about the various schemes and initiatives and how to avail the benefits.The
quiz series will deepen government engagement at grassroot level. Sabka Vikas Mahaquiz launched on
14th April as a tribute to Dr BR Ambedkar
Pan-India electronic trading portal, e-NAM, completes 6 years
National Agriculture Market (e-NAM) is a flagship programme integrates physical wholesale mandis and
markets of different States and Union Territories to facilitate online trading of agricultural commodities.
Launched in 2016, e-NAM is completely funded by the Central Government and is being implemented
by the Small Farmers Agribusiness Consortium.
TCS-led consortium bags Rs 550-crore order to deploy 4G gears in BSNL
A TCS-led consortium has bagged Rs 550 crore order from BSNL for deploying indigenously designed
4G network.The TCS consortium will initially deploy 6,000 mobile towers for BSNL 4G services.Telecom
Minister Ashwini Vaishnaw had informed Parliament that indigenous 4G telecom network will soon be
rolled out across India with the BSNL planning to install about 1.12 lakh tower
Govt launches e-Sanjeevani Tele-consultation facility at one lakh health and wellness centers
e-Sanjeevani Tele-consultation facility at one lakh centers has been launched on the occasion of 4th
anniversary of Ayushman Bharat Health and Wellness. Health Minister Dr Mansukh Mandaviya said, now
the common citizens will also be able to take advice from the big doctors of the country. More than
1,17000 Health & Wellness Centre have been operationalized in the country
40th edition of Hunar Haat begins in Mumbai
40th edition of Hunar Haat begins in Mumbai. The 12-day event organized by the Union Ministry of
Minority Affairs is aimed at providing exposure and employment opportunities to artisans, craftsmen
and traditional culinary experts from across the country. The event is being held in Bandra Kurla
Complex in sururban area of Mumbai. Union Minister for Minority Affairs – Muktar Abbas Naqvi
PM Modi unveils a 108-feet statue of Lord Hanuman at Morbi in Gujarat
On the occasion of Hanuman Jayanti, Prime Minister Narendra Modi unveiled a 108-feet statue of Lord
Hanuman in Morbi, Gujarat via video conferencing. As part of Hanuman ji Chaar Dhaam Project, this
statue is the second of the four statues being set up in the four directions across the country.
It has been set up in the west, at the Ashram of Bapu Keshvananandji Capital: Gandhinagar Governor:
Acharya Devvrat CM: Bhupendrabhai Patel
Draft Policy Guidelines on Right of Way (RoW) for Establishment of Telecommunications Infrastructure
Department of Telecommunications has released draft policy guidelines to bring consistency in Right of
Way-related procedures across states & spur the deployment of telecom infrastructure ahead of a panIndia roll out of fifth-generation or 5G technology.
Telecom dept.has prescribed the methodology for calculation of RoW area, establishment of poles for
the small cells etc. Telecom Regulatory Authority of India (1997) is the regulator of telecommunication
NITI Aayog plans to launch National Data and Analytics Platform in May to provide govt data in user-friendly format
NITI Aayog is planning to launch a National Data and Analytics Platform (NDAP) in May to provide
government data in a user-friendly format, to promote data-driven decision making and research.
Conceived in 2020, the platform aims to standardise data across govt. sources & provide flexible
analytics that make it easy for users to analyse information using multiple datasets. NITI Aayog: CEO:
Amitabh Kant Chairperson: PM Modi
Ministry of Panchayati Raj organises National Conference on Localisation of SDGs on Clean and Green Village and Water Sufficient
Ministry of Panchayati Raj is organising National Conference on Localisation of SDGs on Healthy Village
and Socially Secured Village to mark the Iconic Week celebrations in the light of Azadi Ka Amrit
Mahotsav. It has conceptualised series of thematic Conferences to commemorate this momentous
occasion in the right spirit, taking a ‘whole-of-society’ & ‘whole-of-government”
Parliament passes bill to include Darlong as sub-tribe of Kuki in ST list of Tripura
Parliament passed a bill for the inclusion of the Darlong community as a sub-tribe of Kuki in the list of
Scheduled Tribes of Tripura.
Rajya Sabha passed the Constitution (Scheduled Tribes) Order (Amendment) Bill-2022 with a voice
vote. Kuki is one of the main tribal communities in Northeast India and the Darlong community in
Tripura will become its 18th sub-tribe. Tripura Capital: Agartala Chief minister: Biplab Kumar Deb
BRO to build world’s highest tunnel at 16,580 feet to connect Himachal to Ladakh through Shinku La Pass
The Border Roads Organisation (BRO) will construct the world’s highest tunnel at Shinku La Pass, which
will connect Himachal Pradesh to Zanskar Valley in Ladakh.
The tunnel will be constructed at a height of 16,580 feet.
The construction of the tunnel will start by July this year. It will be completed by 2025.
Union Home and Cooperation Minister Shri Amit Shah attends 13th NIA Day celebrations of National Investigation Agency (NIA)
NIA has set ‘Gold Standard’ with more than 90 percent conviction rate and NIA has a very important
role to play in fulfilling the Prime Minister’s goal of a terror-free India and Zero Tolerance Against
Terrorism.
‘NIA Headquarters: New Delhi
‘Founder: Radha Vinod Raju
‘Chief: Yogesh Chander Modi.
PM participates in the celebrations of 400th Parkash Purab of Sri Guru Tegh Bahadur Ji at Red Fort
The Prime Minister, Shri Narendra Modi participated in the celebrations of the 400th Parkash Purab of
Sri Guru Tegh Bahadur Ji at Red Fort in New Delhi today. The Prime Minister offered prayers to Shri
Guru Teg Bahadur ji. The Prime Minister sat in prayer when 400 Ragis offered shabad/kirtan.
Boris Johnson opens new JCB factory built near Vadodara for Rs 990 cr
British Prime Minister Boris Johnson opened JCB’s new export-focused factory in Halol near Vadodara.
Set up at an investment of 100 million (over Rs 990 crore) in Gujarat, the factory will fabricate parts for
global production lines. Built on a 47-acre site, the new facility will be capable of processing 85,000
tonnes of steel annually.
JCB: Chairman: Lord Bamford; India CEO and MD: Deepak Shetty.
NITI Aayog releases draft battery swapping policy, prioritizes major cities
Government think tank Niti Aayog released a draft battery swapping policy under which all metropolitan
cities with a population above 40 lakh will be prioritised for development of battery swapping network
under the first phase.
State capitals, UT headquarters and cities with population above 5 lakh will be covered in second phase.
According to the policy, vehicles with swappable batteries will be sold without a battery
PM Modi visits J-K to participate in Panchayati Raj Day event, inaugurate Amrit Sarovar initiative
The Prime Minister will visit Palli Panchayat in Samba district. He will inaugurate Amrit Sarovar initiative
which is aimed at developing and rejuvenating 75 water bodies in each district of the country.
The Prime Minister will lay the foundation stone of three road packages of Delhi-Amritsar-Katra
Expressway and Ratle and Kwar Hydroelectric projects
He will also inaugurate 8.45 km long Banihal Qazigund Road Tunnel.
Ministry of Civil Aviation organized ‘Yog Prabha’ at Safdarjung Airport
The Ministry of Civil Aviation organized a mega event- Yog Prabha at Safdarjung Airport in New Delhi.
The event was inaugurated by Union Minister of Civil Aviation Jyotiraditya Scindia and the Minister of
State for Civil Aviation Dr. VK Singh.
Over 900 officials participated in this mega event.
India Creates Guinness Record for Simultaneous Waving of More than 78,000 National Flags
India has entered the Guinness Book of World Records for waving the maximum number of national
flags simultaneously, the Ministry of Culture. It said 78,220 tricolors were waved at the Veer Kunwar
Singh Vijayotsav programme organised at Duler Ground in Jagdishpur in the presence of Home Minister
Amit Shah.
Housing and Urban Development Corporation Ltd. (HUDCO) Celebrates its 52nd Formation Day
The Minister for Housing and Urban Affairs & Petroleum and Natural Gas,Hardeep S. Puri said that
HUDCO’s mission to provide technical and financial support for housing and urban infrastructure,
especially for the poor and the vulnerable sections of the society, is the noble objective and is an
aligned core development requirement of the country. Headquarters: New Delhi; Founded: 25 April
1970
Asia’s biggest international food and hospitality fair – AAHAR 2022 begins in New Delhi
Agricultural and Processed Food Products Export Development Authority (APEDA) in association with the
India Trade Promotion Organization (ITPO) is organizing Asia’s biggest international food and hospitality
fair AAHAR-2022 at Pragati Maidan in New Delhi.
APEDA was established by the Government of India under the APEDA Act passed by the Parliament in
December, 1985.
Cabinet Clears Additional Funding Of Rs 820 Crore For India Post Payments Bank
The Union Cabinet has approved an additional funding of Rs 820 crore for India Post Payments Bank
that will be utilised for expansion of its services to all post offices in the country.
The Cabinet has given its in-principle approval for future fund infusion worth Rs 500 crore into IPPB for
meeting regulatory requirements and technological upgradation.
Cabinet approves upgradation of 2G mobile sites to 4G at security sites in LWE areas
The Union Cabinet chaired by Prime Minister Narendra Modi has approved a Universal Service Obligation
Fund (USOF) project for upgrading 2G mobile services to 4G at security sites in Left-Wing Extremism
(LWE) hit areas.
The project envisages upgrading 2,343 LWE Phase-I sites from 2G to 4G mobile services at an
estimated cost of Rs.1,884.59 crore (excluding taxes and levies).
Bijli Utsav’ organized by REC in three states as part of Azadi Ka Amrit Mahotsav
Rural Electrification Corporation Limited, a public infrastructure finance company under the Ministry of
Power organized a ‘Bijli Utsav’ in Manipur, Odisha and Chattisgarh. The date of the event was specifically chosen as 28th April 2022 since it marks 4 years anniversary of successfully providing access to electricity infrastructure to all villages under the DDUGJY.
International
China launches the world’s largest electric cruise ship
The largest electric cruise ship in the world, the ‘Yangtze River Three Gorges 1’ has started its maiden
voyage in Yichang in Hubei province. The ship is 100 metres long, 16.3 metres wide and has room for
1,300 passengers. The electric cruise ship was developed by China Yangtze Power, a subsidiary of China
Three Gorges Corp, and the Hubei Three Gorges Tourism Group. The ship was built at a cost of 150
million yuan ($23.5 million).
UNDP announces $2.2 million in climate action grants for innovators across 19 countries, including India.
The United Nations Development Programme (UNDP) and partners of the Adaptation Innovation
Marketplace (AIM) have announced $2.2 million in climate action grants for 22 local innovators across
19 countries, including India.
The initiative empowers local actors and contributes to the principles for locally led adaptation action,
which have been endorsed by UNDP and partners.
TCS gets deal from UK Financial Ombudsman Service to drive digital transformation
The Ombudsman has partnered with TCS to enhance and futureproof its digital services capabilities, to
help achieve its goal of preventing complaints and unfairness, and for better serving and supporting its
customers. TCS is the largest IT service provider by revenue in the UK with roughly 18,000 employees
and is a significant contributor to the UK economy.
Tropical Storm Megi: Landslides and floods kill 167 in Philippines
Megi was the first cyclone this year to hit the Philippines, an archipelago of more than 7,600 islands
that sees an average of 20 tropical storms a year.
The death toll from the landslides and flooding spawned by tropical storm Megi has risen to 167, with
110 still missing.
Megi dumped rains in the central and southern Philippine regions before and after it hit land.
Patrick Achi reappointed as Prime Minister of Cote d’Ivoire
Cote d’Ivoire’s President Alassane Ouattara has reappointed Prime Minister Patrick Achi, who resigned
at the same time as his government a week earlier.
Achi, 66, was appointed prime minister in March 2021. He was the third prime minister in the West
African state in the last three years after Amadou Gon Coulibaly and Hamed Bakayoko. Cte d’Ivoire:
Capital:Yamoussoukro; Currency:West African CFA franc
Timor-Leste presidential election: Jos Ramos-Horta wins in landslide
The Nobel prize winner Jos Ramos-Horta has scored a landslide victory in Timor-Leste’s presidential
election.
The victory gives Ramos-Horta his second term in office. He served as president of south-east Asia’s
youngest country from 2007 to 2012.
Robert Golob Becomes The Prime Minister of Slovenia
In Slovenia, political newcomer liberal Robert Golob has defeated three-time prime minister, populist
conservative Janez Jana, in a country split by bitter political divisions over the rule of law. After
counting of over 97 percent of the ballots, state election authorities yesterday said that the Freedom
Movement won nearly 34 percent of the votes, compared to around 24.
India, Russia, China on United States’ intellectual property protection ‘priority watch list’
The USA has put India & 6 other countries including China & Russia on its annual ‘Priority Watch List’ for
intellectual property protection & enforcement. Other countries on the watch list include: Argentina,
Chile, Indonesia, and Venezuela. These countries will be the subject of particularly intense bilateral
engagement during the coming year said the Office USTR. USTR:- United States Trade Representative.
TRANSSHIPMENT OF MEDICAL AID TO SRI LANKA ‘ MISSION SAGAR IX
With the overarching aim of providing critical medical aid to Sri Lanka during the ongoing crisis, INS
Gharial as part of Mission SAGAR IX arrived at Colombo on 29 Apr 22 and delivered over 760 kgs of 107
types of critical lifesaving medicines.
EU emerges top purchaser of fossil fuels from Russia since Ukraine invasion: CREA report
The European Union (EU) was the top purchaser of fossil fuels from Russia, since the country invaded
Ukraine in February 24 this year, with imports worth ’44 billion that accounted for 71 per cent of Russia’s exports of the commodity worth ’63 billion in the period, according to data published by the
Centre for Research on Energy and Clean Air (CREA).
Russia withdraws from UN tourism body ahead of vote on its suspension
Russia is withdrawing from the United Nation’s tourism body, the UN World Tourism Organization ahead
of a vote to suspend Moscow’s membership over its military operation of Ukraine.
The UNWTO announced in March that it wanted to suspend Russia over its invasion of Ukraine.
The decision must be approved by two-thirds of its 159 member states
Insurance
Tata AIA Life Insurance joins hands with CSC for distribution of life insurance in rural areas
Tata AIA Life Insurance has partnered with Common Services Centers under the Ministry of Electronics
and IT to engage its network of over 4 lakh village-level entrepreneurs at the last mile for distribution
of life insurance plans.
Tata AIA partners with CSC to boost insurance penetration in rural India.
To deliver much-needed life insurance Protection cover to rural households, Tata AIA Life Insurance and
Common Services Centers (CSC), under the Ministry of Electronics & IT, have partnered to engage its
network of over 4 lakhs Village Level Entrepreneurs (VLEs) at the last mile for distribution of life
insurance plan.
Govt enhances authorised share capital of three public sector general insurance companies
The government has enhanced authorised share capital of three public sector general insurance
companies ‘ National Insurance Company Limited,Oriental Insurance Company Limited and United India
Insurance Company. This will facilitate capital infusion of ‘5,000 crore in these companiesNotification
has amended merger schemes of 1973 related with these three insurance companies
Willis Towers Watson gains full ownership of WTW India, appoints Vivek Nath as head of India unit
Nasdaq-listed Willis Towers Watson (WTW), a global advisory, broking and solutions company, has
received insurance regulator IRDAI’s approval for a transaction leading to its acquisition of the
remaining 51 per cent shareholding in Willis Towers Watson India Insurance Brokers Private Limited
(WTW India). Vivek Nath has been appointed as WTW’s Head of India.
India & World
India, Turkmenistan sign 4 MoUs for cooperation, agree to expand bilateral trade
India & Turkmenistan signed 4 agreements, including in financial intelligence & disaster management,
as President Ram Nath Kovind met his Turkmen counterpart Serdar Berdimuhamedov & agreed to
expand bilateral trade and energy cooperation to further strengthen the multifaceted partnership.
This is the first-ever visit of the President of India to independent Turkmenistan. Ambassador of India to
Turkmenistan Dr Vidhu P Nair.
President Kovind arrives in Amsterdam; names new breed of yellow tulips ‘Maitri’
President Ram Nath Kovind arrived in Amsterdam on the final leg of his two-nation visit – the first
presidential trip to the Netherlands after 34 years.
During his visit to the Netherlands from April 4 to 7 at the invitation of King Willem Alexander and
Queen Maxima, President Kovind would hold discussions with them and Prime Minister Mark Rutte.
Indian luxury handbag brand ‘Aranyani’ launched in New York
In line with the focus on the Make in India’ and Local for Global’ campaigns, the first luxury handbag
brand from India amalgamating traditional Indian craftsmanship, contemporary format and design was
launched in New York.
At 2+2 Dialogue India, US sign MoU to protect each other’s satellites
India and the United States signed a Memorandum of Understanding (MoU), which will clear the way for
the ISRO’s ‘NETRA’ in Bengaluru to start collaborating with the American Combined Space Operation
Center (CSpOC) to protect satellites of both the nations from natural and man-made threats.
Cabinet approves signing of MoU between SEBI and FRC, Mongolia
The Union Cabinet chaired by Prime Minister Narendra Modi approved a proposal for signing a bilateral
Memorandum of Understanding (MoU) between the Securities and Exchange Board of India (SEBI) and
the Financial Regulatory Commission, Mongolia (FRC).
Established in 2006, the Financial Regulatory Commission (FRC), Mongolia, is a parliamentary authority.
Madagascar joins India-backed Coalition for Disaster Resilient Infrastructure
Madagascar became the 30th country to join the India-backed Coalition for Disaster Resilient
Infrastructure that aims to help small island nations develop resilience to deal with the adverse impact
of climate change.The CDRI is a global partnership that aims to promote the resilience of infrastructure
systems to climate and disaster risks ensuring sustainable development PM had launched the CDRI
during his address at the UN Climate Action Summit in 2019
India, Maldives ink seven MoUs to implement community development projects
India and Maldives on Monday signed seven Memoranda of Understanding (MoUs) for projects to be
built under the Indian grant assistance scheme for the High Impact Community Development Project
through local bodies (HICDP).
MoUs were signed by the Foreign Minister Abdulla Shahid and Indian High Commissioner, Munu
Mahawar.
India’s participation as Guest of honour at the Paris Book Festival 2022
India was designated as the Guest of Honour Country at the Paris Book Festival 2022 organized from
21st to 24th April, 2022.
India Pavilion designed by National Institute of Design (NID), housing more than 15 digital and physical
exhibitions displaying over 400 books published in various Indian languages representing the works of
65 Indian publishers,was inaugurated.
Apps & Portals
CJI launched software ‘FASTER’ to transmit court orders swiftly
Chief Justice of India NV Ramana launched the ‘Fast and Secured Transmission of Electronic Records’, a digital platform to communicate interim orders, stay orders, bail orders etc of the apex court to the
concerned authorities through a secured electronic communication channel. ‘FASTER’ system has been
developed on a war-footing by the Registry in collaboration with NIC.
SEBI announces ideathon Manthan to promote innovation in the securities market
SEBI in association with the other market infrastructure institutions & QRTAs, has announced the launch
of ‘Manthan’, an Ideathon for supporting new ideas and innovations in the securities market. The
Ideathon was formally launched by Ms. Madhabi Puri Buch Chairperson, SEBI, at a function held in
Mumbai on Wednesday, March 30, 2022.
Union Bank launches super-app UnionNXT, digital project SMBHAV
Union Bank of India launched its super-app named UnionNXT and digital transformation project
SMBHAV with an investment outlay of around Rs 1,000 crore for the current financial year 2022-23
(FY23).
The public sector lender expects recovery from the spending in two years and aims to have 50 per cent
business originating on the digital platform by 2025.
Tata Group officially launches super app Tata Neu
Tata Group has officially launched its much-anticipated super app Tata Neu, as it attempts to take on
Amazon and Jio Platforms. The app will allow users to access a range of services from the companyowned brands including Air Asia, BigBasket, Croma, IHCL, Qmin, Starbucks, Tata 1Mg, Tata CLiQ, Tata
Play, and Westside. Tata Sons chairman: N Chandrasekaran.
Government launches ‘Broadcast Seva’ portal to bring transparency
The Information and Broadcasting ministry launched the ‘Broadcast Seva’ portal to facilitate application
and processing of licenses, permissions and registrations for broadcasters. The revamped portal is
expected to bring transparency, accountability and responsiveness to the ecosystem. Anurag Thakur:
Minister for Information and Broadcasting, Youth Affairs and Sports
G. Kishan Reddy launches the Utsav Portal at the inaugural day of Amrit Samagam Conference
Union Minister for Tourism, Culture and DONER G. Kishan Reddy inaugurated the 2 days Conference of
Amrit Samagam being held from 12th ‘ 13th April in New Delhi.
During the inaugural day of the 2 days’ Amrit Samagam Conference, Shri G. Kishan Reddy also
launched the Utsav Portal to showcase all events,festivals and live darshans across India. The Utsav
Portal website is a digital initiative launched by the Ministry of Tourism.
e-DAR portal to speed up accident compensation claims
Ministry of Roads, Transport and Highways has developed the portal named ‘e-DAR’ (e-Detailed
Accident Report). Digitalised Detailed Accident Reports (DAR) will be uploaded on the portal for easy
access. The web portal will be linked to the Integrated Road Accident Database (iRAD).
From iRAD, applications to more than 90% of the datasets would be pushed directly to e-DAR.
Integrated & hi-tech online portals,CROP and PQMS, to strengthen Indian Agriculture
Union Minister for Agriculture and Farmers’ Welfare Narendra Singh Tomar launched these two portals,
one for the Computerized Registration of pesticide (CROP) and the other for the Plant Quarantine
Management System (PQMS).
The new portals will benefit farmers, exporters as well as industrialists.
Acquisitions & Mergers
HP Acquires Conference Room Products Maker “Poly” Aiming To Become A Complete Hybrid Work Ecosystem Provider
HP has announced it is acquiring Poly, a company that specializes in video and audio equipment, for a
purchase price of $1.7 billion, with a total transaction value of $3.3 billion, including debt. The deal is
expected to close by the end of 2022.
Founded in 1990 and originally named Polycom, the company was acquired by headset maker
Plantronics in 2019.
Axis Bank acquires Citi’s India consumer business in a Rs 12,325-cr deal
US bank Citigroup has announced sale of its Indian consumer banking businesses, including credit
cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs
12,325 crore, as part of its plans to exit retail operations in 13 markets.
Axis Bank is the fourth-largest issuer of credit cards with a total base of 8.6 million cards. Citi entered
India in 1902 and started the consumer banking business in 1985.
HDFC twins conjoined: HDFC to be merged into HDFC Bank, create financial behemoth with $169-billion market cap
The board of Housing Development Finance Corporation (HDFC), India’s leading housing finance
company with total assets under management of Rs 5.26 trillion and a market cap of Rs 4.44 trillion,
has approved the firm’s and its subsidiaries’ merger with HDFC Bank, the country’s leading private
sector bank with a market cap of Rs 8.35 trillion.
HDFC Investments and HDFC Holdings are the two wholly-owned subsidiaries of HDFC.
Bank of Maharashtra to divest entire 4% stake in ISARC
Public sector lender Bank of Maharashtra will divest its entire stake of 4 per cent in India SME Asset
Reconstruction Company for nearly Rs 4 crore.
Bank of Maharashtra (BoM) has executed a share purchase agreement dated April 6, 2022 for sale of
entire equity stake of 4 per cent in India SME Asset Reconstruction Company Ltd (ISARC).
Elon Musk strikes deal to buy Twitter for $44bn
The board of Twitter has agreed to a $44bn (34.5bn) takeover offer from the billionaire Elon Musk.
Musk is the world’s richest person, according to Forbes magazine, with an estimated net worth of
$273.6bn mostly due to his shareholding in electric vehicle maker Tesla which he runs. He also leads
the aerospace firm SpaceX.
Tata group to merge Air Asia with Air India, seeks Competition Commission of India’s approval
Tata-owned Air India has reached out to the anti-trust regulator Competition Commission of India (CCI)
for the merger of its low-cost subsidiary AirAsia India.
AirAsia India, a low-cost Indian carrier, is run by the Tata Group. Presently, Tata Sons holds 83.67 per
cent of the company.
Astral acquires controlling stake in Gem Paints for ‘194 cr; enters paints business
Plumbing pipes and building materials major Astral Limited announced acquisition of controlling stake in
the operating business of Gem Paints Private Limited, marking a foray into the paints business. Astral
Limited entered into a definitive agreement with Gem Paints to acquire 51 per cent equity stake in its
operating paint business for a consideration of ‘194 crore.
Star9 Mobility emerges highest bidder for Govt’s 51% stake in Pawan Hans
Star9 Mobility Pvt Ltd has emerged as the highest bidder for the government’s 51 per cent stake in
Pawan Hans Ltd (PHL) with a bid of ‘211.14 crore. The government had set a reserve price of ‘199.2
crore based on the valuation of the experts.
Environment
IREDA finances Blusmart Mobility Rs. 268 crores to purchase 3000 electric cars
In a bid to promote electric vehicles in the Delhi-NCR region, Indian Renewable Energy Development
Agency Ltd the largest lender of the Renewable Energy sector in India, sanctioned a loan of Rs. 267.67
crores to BluSmart Mobility for the purchase of 3,000 all-electric cars. From the sanctioned loan of Rs.
267.67 crores, the first tranche of Rs. 35.70 has been disbursed. IREDA is a Mini Ratna (Category’ I)
Government of India Enterprise.
Environment Minister launches ‘Prakriti’ green initiatives for effective plastic waste management
In another step toward eliminating single-use plastic, Union Environment Minister Bhupender Yadav has
launched ‘Prakriti’, a mascot to spread greater awareness about small changes that can be sustainably
adopted in the lifestyle for a better environment.
India pledged to phase out Single Use Plastics (SUPs) by 2022.
India hosts Clean Energy Ministerial Senior Officials meeting
India is hosting the Clean Energy Ministerial (CEM) senior officials meetings.
The meeting is being organised to review the work of various work streams in Clean Energy Policies.
The Government of the India and the United Kingdom lead the plenary dialogue on the future of Energy
Transition.
Ecuador becomes first country to give legal rights to wild animals
Ecuador has made history by becoming the first country to recognise the legal rights of individual wild
animals.
The judgment was passed by the country’s highest court when it heard a case for Estrellita, a woolly
monkey who was taken from the wild when she was only 1 month old and was raised as a pet but died
within a month after it was shifted to the zoo.
Ecuador Capital: Quito; Currency: United States Dollar
Scientists discover new eel species from Kerala, Bengal
A group of Indian scientists have discovered a new species of eel from among specimens collected from
the Kalamukku and Digha Mohana fishing harbours in Kerala and West Bengal respectively.
The newly discovered eel belongs to the Congrid eels group and has been named Ariosoma indicum.
The term Indicum means that it was found in India.
New shrimp species discovered off Lakshadweep
Scientists from the ICAR-National Bureau of Fish Genetic Resources (NBFGR), focused on
documentation of aquatic genetic resources with special attention on fish and shell fish resources, have
discovered a new species of shrimp, which has been named Actinimenes koyas.
Insurance
Tata AIA Life Insurance joins hands with CSC for distribution of life insurance in rural areas
Tata AIA Life Insurance has partnered with Common Services Centers under the Ministry of Electronics
and IT to engage its network of over 4 lakh village-level entrepreneurs at the last mile for distribution
of life insurance plans.
Tata AIA partners with CSC to boost insurance penetration in rural India.
To deliver much-needed life insurance Protection cover to rural households, Tata AIA Life Insurance and
Common Services Centers (CSC), under the Ministry of Electronics & IT, have partnered to engage its
network of over 4 lakhs Village Level Entrepreneurs (VLEs) at the last mile for distribution of life
insurance plan.
Govt enhances authorised share capital of three public sector general insurance companies
The government has enhanced authorised share capital of three public sector general insurance
companies ‘ National Insurance Company Limited,Oriental Insurance Company Limited and United India
Insurance Company. This will facilitate capital infusion of ‘5,000 crore in these companiesNotification
has amended merger schemes of 1973 related with these three insurance companies
Willis Towers Watson gains full ownership of WTW India, appoints Vivek Nath as head of India unit
Nasdaq-listed Willis Towers Watson (WTW), a global advisory, broking and solutions company, has
received insurance regulator IRDAI’s approval for a transaction leading to its acquisition of the
remaining 51 per cent shareholding in Willis Towers Watson India Insurance Brokers Private Limited
(WTW India).
Vivek Nath has been appointed as WTW’s Head of India.
