Today's Current Affairs 26th April 2023

INTERNATIONAL

Zimbabwe to Introduce Gold-Backed Digital Currency

The Reserve Bank of Zimbabwe, or RBZ, plans to introduce a gold-backed digital currency as legal tender to help stabilize the local currency, the Zim dollar,

The tokens will be a form of electronic money backed by the country's gold reserves, which will be held by the central bank. The RBZ wants people holding Zim dollars to be able to exchange their money for the gold-backed token to help them hedge against the volatility of the local currency.

The Zimbabwean economy operates on a dual currency structure, with the Zimbabwean dollar and the U.S. dollar in use. The U.S. dollar currently dominates and accounts for about 70% of domestic transactions, according to the RBZ. In an effort to halt the collapse of the Zimbabwean dollar and reduce the demand for the U.S. dollar, the RBZ introduced gold coins in July 2022.

A year ago, 1 U.S. dollar was worth about 150 Zim dollars, and it's now worth closer 1,000 Zim dollars,

Shahabuddin Chuppu takes oath as Bangladesh’s 22nd President

Mohammed Shahabuddin Chuppu, a retired judge and former commissioner of the Anti-Corruption Commission, took the oath as the 22nd President of Bangladesh, with Parliament Speaker Shirin Sharmin Chaudhury administering the oath of office to Shahabuddin.

Prime Minister Sheikh Hasina, Cabinet members and hundreds of distinguished guests attended the oath-taking ceremony, which was held in the historic Durbar Hall of the Bangabhaban, the presidential palace, Xinhua news agency reported.

Outgoing President Md Abdul Hamid congratulated the newly-elected President, a ruling Bangladesh Awami League (AL) party nominee who was elected unopposed on February 13.

Hamid's second and last tenure expired on Monday.

NATIONAL

Three new wildlife conservation reserves in Rajasthan

On Earth Day 2023, Rajasthan’s Forest Department announced three new conservation reserves that will protect the rare and endangered wildlife of Rajasthan. These three new wildlife conservation reserves are Sorsan in Baran, Khichan in Jodhpur, and Hamirgarh in Bhilwara.

The Rajasthan Forest Department has set the conservation bar quite high with these new additions. Here’s how:

The grasslands of Sorsan in Baran will be a safe home for the Great Indian Bustard, a species that’s on the verge of extinction. As per the reports, only 200 of these Critically Endangered birds are left in the world.

Sorsan will not only protect the Great Indian Bustard, but will also protect blackbucks, the state animal of Rajasthan, whose numbers have declined drastically due to excessive hunting, habitat loss and rampant deforestation.

Every year, Khichan in Jodhpur, hosts thousands of migratory Demoiselle cranes. Now, with the tag of conservation reserve, Khichan will be a safe home to these birds who come to this part of the country to winter.

Khichan is also India’s first conservation reserve for Demoiselle cranes.

When areas are marked as conservation areas, It becomes mandatory for any developmental projects to get clearance as per the Forest Conservation Act, 1990. Any developmental projects within the conservation area need to get the approval of the National Board for Wildlife, and State Board of Wildlife.

With these three new additions, now there are 26 wildlife conservation reserves in Rajasthan. Some of the well-known conservation reserves are Bisalpur Conservation Reserve in Tonk, Jodbeed Gadhwala Bikaner Conservation Reserve in Bikaner, Khetri Bansyal Conservation Reserve in Jhunjhunu, and Jawai Bandh Leopard Conservation Reserve in Pali.

OBITUARY

Former Punjab CM & senior Shiromani Akali Dal leader Parkash Singh Badal passes away

Parkash Singh Badal, former Chief Minister of Punjab and senior leader of Shiromani Akali Dal passed away in Mohali last evening, April 25. He was 95. Mr. Badal, a five-time chief minister, was admitted to the intensive care unit of a private hospital on Sunday following a complaint of difficulty in breathing.

Parkash Singh Badal was born on December 8, 1927, in Abul Khurana near Malout. He entered the state Assembly from Malout in 1957 as the Congress nominee and in 1969, entered the Assembly from Gidderbaha seat on the SAD ticket. He was elected as MLA for 11 times, losing only twice.

Badal became the Chief Minister for the first time in 1970. He was the youngest Chief Minister and headed a coalition government. But the government did not complete its term. Later, he became the Chief Minister four times, from 1977 to 1980, 1997 to 2002, 2007 to 2012, and 2012 to 2017. In 1977, he briefly joined Morarji Desai’s government as the Agriculture minister at the Centre.

APPOINTMENTS & RESIGNATIONS

Hari Hara Mishra takes charge as CEO of Association of ARC

Hari Hara Mishra has taken charge as the Chief Executive Officer of the Association of Asset Reconstruction Companies.

The Association, which is the voice of all Asset Reconstruction Companies (ARCs), has been active for more than eight years. Currently, there are 28 ARCs registered with Reserve Bank of India.

Mishra, who worked with State Bank of India from 1982 to 2004, Officer, has been associated with Asset Reconstruction Sector since those formative days (2004) till date, in various ARCs in executive and director level roles.

“ARCs are passing through a difficult phase in terms of trust deficit with various stakeholders. My primary goal will be to restore the confidence in the functioning of ARCs by focussing on win-win strategy and value unlocking for all players in the broader ecosystem,” he said.

About: ARC - An Asset Reconstruction Company is a specialized financial institution that buys the NPAs or bad assets from banks and financial institutions so that the latter can clean up their balance sheets. In other words, ARCs are in the business of buying bad loans from banks.

Nasscom appoints Microsoft India head Anant Maheshwari as chairperson

The National Association of Software and Service Companies (NASSCOM) has appointed Microsoft India’s president Anant Maheshwari as its Chairperson for the year 2023-24, promoting him from his previous tenure as vice-chairperson. He has taken the reins from Krishnan Ramanujam, who heads business and technology services at Tata Consultancy Services.

The advocacy group also appointed Rajesh Nambiar, Chairman and MD, Cognizant India as its Vice Chairperson for the current year.The apex organisation for technology services in India also updated its executive council for the 2023-24, one-third of which is made of women.

Nasscom said that through the appointment of its new leadership and council, it aims to spearhead India’s goal of doubling the technology industry to $500 billion by 2030 from a current valuation of $245 billion.

Shreekant Bhandiwad named as the new Chairman of KVGB

Shreekant M Bhandiwad has taken charge as the new Chairman of Karnataka Vikas Grameena Bank (KVGB). Prior to his joining as Chairman of KVGB, Bhandiwad was heading the Patna circle of Canara Bank.

A postgraduate in agriculture, he has worked as an Agricultural Extension Officer in rural branches of Canara Bank and also worked as a consultant in Agricultural Consultancy Services of Canara Bank at the Head Office.

A native of Dharwad, Bhandiwad carries with him an experience of 29 years in Canara Bank. He has worked in states such as Haryana, Rajasthan, Bihar and Karnataka in various capacities such as branch in-charge, regional head and circle head. Besides this, he was Deputy Managing Director of Canfin Homes Ltd for a period of three years.

P Gopikrishna, the earlier Chairman, repatriated to Canara Bank as Circle Head, Bengaluru. A statement said that the bank’s business increased from ₹24,775 crore to ₹33,100 crore during Gopikrishna’s tenure.

IMPORTANT DAYS

World Intellectual Property Day

World Intellectual Property Day is observed annually on April 26. The event was established by the World Intellectual Property Organization (WIPO) in 2000 to "raise awareness of how patents, copyright, trademarks and designs impact on daily life" and "to celebrate creativity, and the contribution made by creators and innovators to the development of economies and societies across the globe". April 26 was chosen as the date for World Intellectual Property Day because it coincides with the date on which the Convention Establishing the World Intellectual Property Organization entered into force in 1970. World Intellectual Property Day is WIPO’s largest intellectual property (IP) public outreach campaign

WIPO, a self-funded specialized agency of the United Nations, plays a crucial role in establishing a fair and accessible global intellectual property system. In the year 2000, the member states of WIPO agreed to observe World Intellectual Property Day on April 26th every year to celebrate the establishment of the WIPO Convention in 1970.

The Convention aims to bridge the gap between intellectual property as a legal or business concept and its impact on people’s lives. By observing this day, WIPO hopes to increase awareness of the importance of intellectual property rights and encourage innovation and creativity across the globe.

SUMMIT'S & MOU's

Prasar Bharati’s conclave to celebrate 100 episodes of PM Modi’s Mann Ki Baat

Prasar Bharati is hosted a national conclave on “Mann Ki Baat@100” to celebrate 100 episodes of Prime Minister Narendra Modi’s monthly radio programme Mann Ki Baat, in New Delhi today., April 26. The inaugural session of the Conclave will be graced by Vice President Jagdeep Dhankar and Minister of Information and Broadcasting and Youth Affairs and Sports Anurag Singh Thakur.

Briefing the media, Information and Broadcasting Secretary Apoorva Chandra said, the inaugural session will be followed by 4 sessions highlighting the wide-ranging themes of the Prime Minister’s interactions during Mann Ki Baat. Each session will be facilitated by an eminent panel.

The valedictory session of the event will be graced by Home and Cooperation Minister Amit Shah, Railways Minister Ashwini Vaishnaw, Information and Broadcasting and Youth Affairs and Sports Minister Anurag Singh Thakur and Minister of State for Finance Pankaj Chaudhary. The Secretary said, a commemorative postage stamp and coin on 100 episodes of Mann Ki Baat will be unveiled to mark this event.  The 100th episode of this coveted programme will be broadcast this Sunday on over 1000 radio stations, including private FM stations, community radios, and various TV channels.

Indian apex exporters body sign MoU with Business Russia to promote trade & FDI

Apex exporters body FIEO on Monday said it has signed an MoU with Business Russia to promote trade and investments between the two countries.

It said the two organizations will cooperate to arrange exhibitions, buyers-sellers’ meetings, workshops, seminars and encourage enterprises to work in tandem with their counterparts for joint ventures.

The Memorandum of Understanding (MoU) was inked during a visit of a 50-member delegation of the agro and food processing sector to Moscow.

The delegation is "exploring opportunities in diverse business ventures such as ready-to-eat meals, fish meal, animal feed, soyabean apart from conventional products,” said N K Kagliwal, Board Member of FIEFIEO Director General Ajay Sahai said that exporters, importers and bankers on both the sides have to do a little extra work to resolve the issues.

"A direct exchange rate between rupee and ruble will help streamline the process in a big way," Sahai said. He added that huge trade deficit is a concern, but it is also an opportunity to push exports from India to Russia.  "We have to diversify exports to automobiles and auto components, electronics, medical devices, solar cells, textile, food and agriculture etc," he said.O (Federation of Indian Export Organisations).