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Important Current Affairs of 3rd April

NATIONAL:

Tata Power, Indraprastha Gas To Offer Integrated Services.

• Tata Power and Indraprastha Gas Limited (IGL) signed a memorandum of understanding to set up integrated customer services and optimize value for customers.

• The pact will also cover common safeguard activities of underground assets (pipes and cables) including the right of way for activities like maintenance and lying of pipes and cables, routine patrolling of under and above ground assets.

Garuda Prakashan launched Modi Again and Saffron Swords.

• The Indian Publishing company, Garuda Prakashan Private Limited, launched its two books “#Modi Again” and “Saffron Swords – Centuries of Indic Resistance to Invaders”.

• #Modi Again: Why Modi is right for India, An Ex-Communist’s Manifesto” authored by Aabhas Maldahiyar, states the reasons about how Narendra Modi is right for India. “Saffron Swords: Centuries of Indic Resistance to Invaders” written by Manoshi Sinha Rawal is a book on 52 unsung warriors of India from last 1300 years.

BESCOM plans to use Solar energy to power electric vehicles.

• Bangalore Electricity Supply Company (Bescom) is looking to utilise solar energy to power electric vehicle charging stations.

•  The aim is to ensure that clean transport is driven by clean energy.  Karnataka Power Transmission Corporation Limited (KPTCL): 

♦ KPTCL is the sole electricity transmission and distribution company in the state of Karnataka

HCL Completes Acquisition Of Strong-Bridge Envision.

• IT major HCL Technologies stated that its acquisition of US-based Strong-Bridge Envision has been completed.  HCL recently agreed to acquire the Seattle-based company to enhance its digital transformation consulting capabilities. According to reports, the deal was worth 45 million dollars.

GST collections set new record in the month of March.

• The Finance Ministry said that GST collections have scaled to a record high of Rs.1,06,577 crore in March 2019. The revenue collection was Rs.97,247 crore in the month of February.

• The record revenue collection was attributed to increased compliance and an increase in the number of returns filed. Total gross GST revenue collected in March 2019 stood at Rs.1,06,577 crore of which Central GST is Rs.20,353 crore, State GST is Rs 27,520 crore, Integrated GST is Rs.50,418 crore and cess is Rs.8,286 crore.

• The number of summary sales returns GSTR-3B filed for the month of February up to March 31 stood at 7.59 million. The monthly average of GST revenue during 2018-19 stood at Rs.98,114 crore which is 9.2% higher than the previous fiscal. GST collections for 2018-19

COMCASA: First secure link between India, US navies set up.

• India and the US have set up the first ever secure communication link between the Indian Navy & US Central as well as Pacific Naval Commands under the COMCASA pact at New Delhi, India.

• As a result of the implementation of the COMCASA, US has also activated the Selective Availability Anti-Spoofing Module GPS system in some of C-130 and C-17 transport aircraft. About COMCASA: COMCASA - COMmunications, Compatibility And Security Agreement.

•  It is the Indo-US military-information sharing pact and was signed at the 2+2 bilateral summit on 6th September, 2018. COMCASA is one of the three foundation agreements that need to be signed by a country with the United States to share high-end encrypted communication and satellite data.

INTERNATIONAL:

European Union launched WTO cases against India, Turkey.

• The European Union has launched two World Trade Organization (WTO) disputes against India over import duties on IT products and against Turkey over measures affecting pharmaceutical producers. In the case against India, the EU is challenging the introduction of import duties of between 7.5 and 20 percent for a wide range of IT products, such as mobile phones and components, as well as integrated circuits. In the case against Turkey, the EU is challenging measures that force foreign pharmaceutical producers to move their production to Turkey.

Bolivia joins International Solar Alliance.

• During the state visit of the President Ram Nath Kovind to Bolivia, Bolivia has signed the framework agreement to join the International Solar Alliance.

• So far, 73 countries have signed the ISA Framework Agreement The International Solar Alliance (ISA) was unveiled by Prime Minister of India and French President at the U.N. Climate Change Conference in Paris on November 30, 2015.

• The idea was to form a coalition of solar resource-rich countries to collaborate on addressing the identified gaps in their energy requirements through a common approach. India, with a target to produce 100 GW of solar energy by 2022, would account for a tenth of ISA’s goal. ISA is the first international body that will have a secretariat in India.

Indonesia seeks to increase import from India.

• Indonesia is looking at increasing sugar, rice and bovine imports from India. Consul General of Indonesia, Ade Sukendar said that India exported about 50,000 tonnes of rice in 2018.

• It is looking at importing more non-basmati rice also from India. There was potential to import over one lakh tonnes a year. Negotiations are ON between the two countries to increase imports. Total exports from Indonesia to India in 2018 were to the tune of $13.72 billion and exports from India were to the tune of $5.01 billion.

AGREEMENTS:

India and Bolivia signed for the development and industrial use of lithium.

• India and Bolivia have signed an agreement for the development and industrial use of lithium during the state visit of the President Ram Nath Kovind to Bolivia.

• Lithium is a prime component used to power electric vehicles and cell phones.

• India and Bolivia agreed to forge a mutually beneficial partnership to facilitate Bolivian supplies of lithium Carbonate to India. The countries also plan to foster joint ventures for lithium battery/cell production plants in India.  This agreement will make Bolivia one of the major provider of metal for India's e- mobility and e-storage needs. Bolivia is known to have one-fourth of the world's lithium reserves.

•  The agreement facilitates mechanisms for the commercialization of Lithium Carbonate and Potassium Chloride produced in Bolivia by Yacimientos de Litio Bolivianos Corporation (YLB Corporation).

BANKS AND ECONOMICS:

BNP Paribas Cardiff sold 5 crore shares in SBI Life Insurance for 2,889 crore

• The foreign partner of SBI Life Insurance, BNP Paribas Cardiff sold 5 crore shares of the company for Rs 2,889 crore to increase its public shareholding to 25% of its paid-up equity share capital on or before October 2, 2020.

• This sale has not undertaken as per the methods prescribed by SEBI for achieving the minimum public shareholding (MPS) Threshold. The average price of equity share during the sale was Rs 577.93 per equity share. On the other hand, Canada Pension Plan Investment Board has bought 2 crore shares at an average price of Rs 577.50 per shares.

Kotak Mahindra Bank Becomes First Lender To Charge For UPI Use.

• Kotak Mahindra Bank (Kotak) stated that it will charge customers for UPI transactions starting 1st of May 2019.  For each Kotak Bank account, the first 30 UPI fund transfers will be free, after which a charge will be levied on all fund transfers from the bank account. This will be applicable across all platforms, including Paytm, PhonePe, Google Pay or Truecaller Pay among others.  

AWARDS:

Vikram Patel receives John Dirks Canada Gairdner Global Health Award.

• Vikram Patel, a psychiatrist and professor of global health at Harvard Medical School, has won the prestigious John Dirks Canada Gairdner Global Health Award.

• Mr.Patel has led research generating knowledge on the burden and determinants of mental health problems in low and middle-income countries and pioneered approaches which utilise community resources for the prevention and treatment of mental health problems in India with global impact.

• Laureates received a $100,000 cash honorarium and will be formally presented with their awards on October 24, 2019, at the annual Canada Gairdner Awards Gala in Toronto.

• Canada Gairdner Global Health Award: The John Dirks Canada Gairdner Global Health Award recognizes the world’s top scientists who have made outstanding achievements in Global Health Research.

SPORTS:

Saurav Ghosal becomes first Indian to enter top-10 in men's PSA rankings.

• Saurav Ghosal became the first Indian male squash player to enter the top 10 in the PSA (Professional Squash Association) world rankings. He has moved up two places to a career-high ranking of tenth and is currently the only Asian in the top-10.

• Ghosal made it to the quarter-finals of the 2018-2019 PSA World Championships in Chicago, USA for the first time in his career.

• He was also a quarter-finalist at the prestigious Grasshopper Cup in Zurich, Switzerland. In the women's rankings, Joshna Chinappa continued to be the best-ranked Indian, moving up to the 15th position. Earlier, Dipika Pallikal had broken into the top-10 in 2012 and once again in 2014.

RESIGNATIONS:

Google India head Rajan Anandan resigns after 8 years.

• Rajan Anandan, vice president for Google India and South East Asia, is leaving the company after an eight-year stint and will be joining Silicon Valley’s marquee venture fund Sequoia Capital. He will stay until the end of this month. Rajan Anandan had joined Google in 2011. His responsibility will be taken over by Country Director Sales Vikas Agnihotri in the interim.

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