Correct Answer :   M Jagadesh Kumar

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Correct Answer :   161

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Correct Answer :   Telangana

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Telangana Chief Minister K Chandrashekar Rao, on Tuesday (2 May 2023), announced the “Gita Karmikula Bheema” for the benefit of toddy tappers.

* It will be modelled on Rythu Bheema to help the families of the toddy tappers in the unfortunate event of their untimely death.

Decision at the review meeting :

* Under the scheme, the family of the toddy tapper will get an insurance amount of ₹5 lakh.

* The money would be credited to the account of the next of the tapper’s kin.

* The chief minister asked officials to fine-tune the scheme and come up with detailed guidelines for its implementation.

* He issued the instructions to the officials at a review meeting, which he chaired at the new Secretariat.


The idea behind the scheme :

* The chief minister said that it was unfortunate that several toddy tappers had died after accidentally falling from trees.

* It was the responsibility of the government to go to the rescue of the families of such toddy tappers, he said.

* He added that though the state government was paying ex gratia to the families that lost their breadwinners, the financial help was sometimes taking time to reach them.

* “To overcome this problem, it has been decided to model the Gita Karmikula Bheema on the lines of Rythu Bheema,” the chief minister said..

Source : The South First

Correct Answer :   Microsoft

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Microsoft has announced two new initiatives to guide India’s small and medium businesses (SMBs) on digital transformation projects and help them learn new technology and business skills. The initiatives include a SMB-focused website and a dedicated helpline number.

* The SMB-focused website will focus on improving networking opportunities for small business owners and entrepreneurs in India, enhance their skills and achieve holistic growth, the company said in a statement on Tuesday (2nd May 2023).

* Elaborating on the initiative, Microsoft said that the website offers a "rich" repository of skills, resources and tools to cater to every requirement of a business.

* It offers an SMB Academy that can help SMBs gain valuable digital skills and improve workforce productivity using Microsoft’s curated business and technology courses. 

* The website also offers varied Microsoft solutions that best address the needs of an organization, as well as easy access to Microsoft’s vast ecosystem of over 17,000 partners in the country.

* On the other hand, the helpline offers SMBs dedicated support to navigate their digital transformation journey seamlessly. The helpline provides expert guidance and assistance in leveraging technology solutions that best address their business challenges, improve operations, increase efficiency and drive growth.

* A study by Microsoft conducted in July last year shows that strong linkages of technology investments and adoption with business strategies, as well as close collaboration with partners are crucial factors for SMB success.

* Microsoft has been working closely with SMBs, giving them cloud technologies, specially designed solutions, skills and support, as well as multi-city experiential events such as TechMart, to help their digital transformation so they can thrive in today's digitally powered economy.  

* Samik Roy, Executive Director – Corporate Medium and Small Business, Microsoft India, said, “These new initiatives are aimed at further supporting these organizations and work closely with them so they can do more with less”. ..

Source : Tech Circle

Correct Answer :   $1 trillion

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Merchant payments on Unified Payments Interface (UPI) are expected to reach $1 trillion by FY26, driven by a growth rate of 40 to 50%, said Bain and Company in the Future of India Retail Payments report published on Thursday.

* The growth in merchant payments will be driven by increased awareness, growth in merchant acceptance of UPI, new payment features like UPI Lite and UPI 123 Pay along with opening up of international payment corridors on the domestic payment railroad.

* According to data from the National Payments Corporation of India, around $40 billion worth of merchant transactions were settled through UPI in March 2023 alone. So the sector is already hitting a $500 billion payment run rate.

* Overall, the share of UPI and mobile wallets in the $3.2 trillion digital payments pie is set to grow to 28% in FY26 from 11% in FY22. As all the digital payment modes including credit cards, debit cards and buy now, pay later grow, cash will go down to 48% compared to 69% in FY22.

* According to Bain & Company’s report, credit card spending in India is expected to increase 2.5 times to $280 billion by FY26 from a present level of roughly $100 billion.

* An increase in spending on newly issued credit cards will account for a significant portion of this gain. The Reserve Bank of India reports that there were 85 million credit cards in circulation as of March 2023.

* Tier-2 sites, new fintech and consumer tech partnerships for co-branded cards, and an overall opening up of supply will be the sources of growth in new credit cards.

Government Payments and Subsidies to Decrease, Premium Merchants May Pay Specific MDR for UPI Payments :

* Bain & Company has predicted that government payments and subsidies will decrease over the next three to five years, resulting in market forces controlling pricing for merchant payments.

* Premium merchants, for instance, may pay a specific Merchant Discount Rate (MDR) for UPI payments.

* Payment service providers will have developed alternative revenue streams by then. Providers like Razorpay, Cashfree, and Paytm, which were initially positioned as online payment providers, have all established their offline operations as well, providing their users with an omnichannel payment experience.


Fintech and Banks Must Adapt to Remain Competitive in India’s Fintech Era :

* As the fintech era progresses in India, banks themselves will need to adapt to remain competitive.

* Banks will need to investigate full-stack merchant solutions and increase the number of credit card holders by adding new consumers. The research advised “commercializing partnerships with a select group of non-banks to expand the reach and improve capabilities.”

* To hasten go-to-market, fintech themselves must develop compliance departments, increase income diversification, and fortify their relationships with banks and NBFCs...

Source : Economic Times

Correct Answer :   Mumbai

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More than two years after 35 men and a giant Chinese Tunnel Boring Machine began cutting though complex geological strata, India’s first undersea twin tunnels in south Mumbai are close to completion.

* Set to open in November 2023, the tunnels start near Girgaon (ahead of Marine Drive), extend north under the Arabian Sea, Girgaon Chowpatty and Malabar Hill, and end at Breach Candy’s Priyadarshini Park.

* The 2.07-km tunnels are a part of the Rs 12,721-crore Mumbai Coastal Road Project (MCRP) being built by the Brihanmumbai Municipal Corporation (BMC).

* The 10.58-km MCRP links Marine Drive to the Bandra-Worli Sea Link and is just one part of the Coastal Road project.

* The high-speed coastal road aims to cut down the 45-minute commute from Girgaon to Worli during peak hours to just 10 minutes.

* The tunnel entry and exit points are designed to have fibreglass facades resembling the Queen's Necklace, a famous C-shaped promenade on Marine Drive.

* The tunnels have six cross passages, with four for pedestrians and two for motorists. Each tunnel has three lanes of 3.2 metres. According to Namkak Cho, a senior tunnel engineer at Yooshin Engineering Company, two lanes in each tunnel will be operational, and the third will be used in case of an emergency or if the vehicular density increases.

* The Mumbai Coastal Road Project's most significant feature is the use of the largest tunnel boring machine (TBM) ever in India, called Mavala.

* The TBM, which weighs more than 1,700 tonnes and stands nearly 12 meters tall, was manufactured by the China Railway Construction Heavy Industry Company Ltd (CRCHI).

* It was named in honour of Shivaji's warfare experts from the Koli and Kunbi communities. The TBM was assembled and launched a year ago, and the boring work started in January 2021. The tunnels are expected to open in November this year..

Source : Indian Express

Correct Answer :   May 4th

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Coal Miners Day is observed every year on May 4th to recognize and honour the tireless efforts and significant contribution of coal miners in extracting coal, which is one of the most important fossil fuels used for various purposes, including power generation and industrial production.

* Demand for coal is also increasing for its use in cement and steel manufacturing.

* Coal mining is a hazardous and strenuous task that involves digging, tunnelling, and extracting it from deep within the earth’s crust, making it one of the most challenging occupations.

* On Coal Miners Day, all coal miners are acknowledged and celebrated for their hard work, dedication, and perseverance in extracting coal to fuel the nation’s progress.

Coal Miners Day History : Although the first coal mine was opened in Scotland in 1575, India’s first coal mine was established much later in 1774. The Raniganj Coalfield, situated on the banks of the Damodar River, was the site of this mine, which was operated by John Summer and Suetonius Grant Heatly of the East India Company. After India gained independence, the country’s demand for coal increased, and the new government established a 5-year development plan to meet the growing demand for energy.

Coal Miners Day Significance :

* It’s important to recognise the sacrifice done by the workers who have lost their lives while performing their duties. This day is dedicated to honouring their contributions and remembering the tragedies that they have endured throughout their lives. Various awareness programs are conducted on this day to promote the health and safety needs of the workers.

* These programs aim to educate the workers about the various laws and regulations laid down by the Indian government to improve their working conditions and wages. This is done to ensure that the workers are aware of their rights and can work in a safe and healthy environment..

Source : News18

Correct Answer :   Ministry of Tourism

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Ministry of Tourism, Government of India, is participating in the Arabian Travel Market (ATM) 2023, being ‘eld from 01st to 04th May 2023 in Dubai, UAE.

* The Arabian Travel Market is one of the leading global events for the travel and tourism industry, attracting visitors and exhibitors from around the world.

* India's participation in the Arabian Travel Market 2023 is a significant step towards promoting India as a preferred travel destination among the Middle East and North Africa (MENA) markets.

* With its diverse culture, heritage, cuisine, and natural beauty, Adventure, MICE, luxury, wildlife, wellness, India is a popular destination for travellers seeking unique and authentic experiences.

* Ministry of Tourism, is showcasing "Incredible India" and launched Visit India Year 2023 campaign at the event, highlighting India's diverse tourism offerings and the country's commitment to sustainable tourism practices. The India Pavilion will showcase India's rich cultural and natural heritage, including its UNESCO World Heritage Sites, wildlife sanctuaries, and spiritual destinations.

* The event will also provide an opportunity for the Ministry to strengthen ties with the Middle East and North Africa tourism industry, including travel agents, tour operators, airlines, and media representatives. The delegation will participate in various networking events, B2B meetings, and media interactions to promote India as a tourism destination and establish partnerships with industry stakeholders.

* India's participation in the Arabian Travel Market 2023 underscores the country's commitment to promoting tourism as a driver of economic growth and employment generation. Government of India remains committed to enhancing India's tourism infrastructure and promoting India as a world-class tourism destination.

* The India pavilion was inaugurated on 1st May at the Arabian Travel Mart 2023 Dubai by the Indian Ambassador to UAE, H.E. Sunjay Sudhir in presence of Shri Gyan Bhushan, Sr. Economic Advisor, Ministry of Tourism, GOI,  Shri K. Lakshminaryanan Kannan, Tourism Minister of Puducherry, Shri Rohan Khaunte, Tourism Minister of State Government of Goa & Shri Arun Srivastava, Deputy Director General, Ministry of Tourism, GOI.

* A strong participation from India at Arabian Travel Mart 2023 Dubai, consisting of more than 65 State Tourism Departments/UTs, Tour Operators, Travel Agents, Hotel Chains, Airlines etc. is expected to boost inbound travel to India from the Middle East region. ATM provides a much needed opportunity for Indian Tourism industry stakeholders to connect with global travel trade and promote India...

Source : PIB

Correct Answer :   Ajay Banga

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The World Bank's 25-member executive board on Wednesday (3rd May 2023) elected former Mastercard CEO "Ajay Banga" to a five-year term as president, effective 2nd June 2023, ushering in an Indian-born finance and development expert charged with revamping the lender to tackle climate change and other global crises.

Banga, 63, was nominated for the post by US President Joe Biden in late February and was the sole contender to replace departing World Bank chief David Malpass, an economist and former US Treasury official during the Trump administration.

The election came after World Bank board members interviewed Banga for four hours on Monday (1st May 2023). Malpass's last day at the bank will be June 1. The decision came in a vote by 24 of the board's members, with Russia abstaining, instead of the usual consensus-based process, a source familiar with the process said.

One of the sources called Banga a "true change maker" who will help accelerate reforms at the global development bank. It already loans out hundreds of billions of dollars to developing countries but is working to increase its lending to help them address global challenges such as climate change.

The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process, as discussed at the April 2023 Spring Meetings, and on all the World Bank Group’s ambitions and efforts aimed at tackling the toughest development challenges facing developing countries..

Source : India Today

Correct Answer :   3rd May

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World Press Freedom Day is observed each year on May 03. The day symbolizes the importance of press freedom and its role in the smooth and effective functioning of society.

* The growth of digital technologies and independent media in several countries has facilitated the unrestricted dissemination of information. Nonetheless, media freedom, the safety of journalists, and freedom of expression are facing threats, leading to an adverse impact on basic human rights.

* This day serves as an opportunity to address the global issues concerning the media including their freedom and accessibility, and acknowledge the contribution of journalists who lost their lives in this profession.

* The press is a critical component of the democratic setup of a country, it highlights and advocates the importance of human rights, good governance, and democracy.

World Press Freedom Day theme 2023 : The theme for World Press Freedom Day this year is "Shaping a Future of Rights: Freedom of Expression as a driver for all other human rights".

World Press Freedom Day History : World Press Freedom Day 2023 marks the 30th anniversary of this day. It was proclaimed by the United Nations General Assembly in December 1993 after the recommendation of UNESCO's General Conference. Since then, May 03 is being celebrated as World Press Freedom Day.

World Press Freedom Day Significance : The press plays an important role in any democracy. It highlights the issues concerning the general public and works in the direction of the betterment of society. Freedom of expression is a fundamental human right. Everyone should have the right to freedom of opinion and expression. The World Press Freedom Day denounces censorship of the press and journalists. It stresses the need for an independent media to safeguard democracy.

The press serves as a medium of information through which the general public gets access to facts that help them make informed decisions about their lives and the government. With the expansion of digital media, the flow of misinformation has raised new challenges. The role of the press becomes more significant today, than ever before..

Source : Times of India