India third largest military spender in world, after US and China

1.World Day for Safety and Health at Work: 28 April

The World Day for Safety and Health at Work was first observed by the International Labour Organisation (ILO) in the year 2003 and laid importance on the prevention of accidents and diseases at the workplace.The day is celebrated every year on April 28 and is important since a person spends most of his time at his workplace and so a secure workplace environment is something which everyone can expect.

The day which is being observed on April 28, 2020, aims at promoting the prevention of occupational accidents and diseases at the workplace.

2020 Theme: ‘Safety and health at work can save lives’

2.UK Finance Minister unveils 100% state-backed ‘Bounce Back Loan Scheme’ for small businesses

United Kingdom’s Finance Minister Rishi Sunak has unveiled a 100 per cent state-backed ‘Bounce Back Loan Scheme’ for the small businesses to help them tide through the coronavirus pandemic lockdown.The Indian-origin UK Chancellor told the House of Commons that the new fast-track finance scheme would help bolster the existing package of support available to crisis-hit UK businesses.

Under the scheme, qualifying small businesses can apply online to borrow between 2,000 pounds and 50,000 pounds as interest-free loans for the first 12 months.

3.Australia cancels ‘Pitch Black’ 2020 air combat exercise

The Australian Department of Defence (DoD) has cancelled this year’s iteration of the large-scale multinational ‘Pitch Black’ air combat exercise.The exercise was set to be hosted by the Royal Australian Air Force (RAAF) for three weeks starting on 24 July.

The exercise is an opportunity to interact with forces from across the globe.

The next edition of Pitch Black is scheduled in 2022.

4.India third largest military spender in world, after US and China

India has become the third largest military spender in the world, after the US and China, according to a Stockholm International Peace Research Institute (SIPRI) report.This is the first time that India and China are among the top three military spenders.

India’s military spending grew by 6.8 percent to $71.1 billion in 2019, according to the SIPRO report on “Trends in World Military Expenditure, 2019”.

This was the highest military spending in South Asia.

Total global military expenditure rose to $1,917 billion in 2019.

5.Narendra Singh Tomar releases SOP for e-Gram Swaraj Yojana platform and mobile App

Union Minister of Rural Development and Panchayati Raj, Narendra Singh Tomar issued a detailed guideline of the SVAMITVA Scheme aimed at providing people residing in Rural parts with the right to document their residential properties.Standard Operating Procedure (SOP) regarding the e-Gram Swaraj Yojana platform and mobile App, was launched on this occasion.

This would also help in resolving property related disputes and would also enable creation of better-quality Gram Panchayat Development Plans.

The pilot phase of the scheme will extend to six states namely Haryana, Karnataka, Madhya Pradesh, Maharashtra, Uttar Pradesh and Uttarakhand covering approximately one lakh villages.

Mr. Tomar informed that it will ensure that the funds given to the panchayats are not misused and transparency can be established.

6.India Ratings lowers GDP growth rate further to 1.9%

India Ratings & Research (Ind-Ra), a Fitch group company, has further slashed its estimate for India’s Gross Domestic Product (GDP) growth rate to 1.9 per cent for 2020-21.This will be the lowest after India recorded growth rate at 1.1 per cent in 1991-92.

The agency revised its estimate from the March 30 announcement of 3.6 per cent GDP growth to 1.9 per cent.

The agency’s estimate is at par with IMF (1.9 per cent) and close to the World Bank (1.5-2.8 per cent), but lower than ADB (4 percent).

7.Airtel Inks $1 Billion Multi-year Deal With Nokia to Enhance 5G Network Capacity in India

Bharti Airtel has inked a $1 billion (nearly Rs 7,636 crore), multi-year deal with Nokia to deploy the 5G-ready solutions across nine circles in the country.Nokia, which is the largest 4G vendor in the Airtel network, will help lay the foundation for providing 5G connectivity in the future by deploying 300,000 radio units across several spectrum bands in those circles expected to be completed by 2022.

Nokia’s SRAN solution helps operators manage their 2G, 3G and 4G networks from one platform reducing network complexity, increasing cost efficiencies and future-proofing investment.

8.Axis Bank to acquire 29% stake in Max Life Insurance

The board of Axis Bank has approved purchase of an additional 29% stake in Max Life Insurance which will take the private lender’s total stake in the insurer to 30%.Max Financial Services presently holds a 72.5% stake in Max Life and Mitsui Sumitomo Insurance (MSI) owns 25.5% stake.

Axis Bank also has a minor stake in the life insurer. Axis Bank is the third largest private bank and Max Life is the fourth largest private life insurer in India.

Post completion of the series of transactions, Max Life will become a 70:30 joint-venture between Max Financial Services and Axis Bank.

9.US President Donald Trump nominates Indian-American as US envoy to OECD

US President Donald Trump has nominated senior Indian-American diplomat Manisha Singh as America’s next envoy to the Organisation for Economic Cooperation and Development, OECD.Manisha Singh is currently Assistant Secretary of State for Economic and Business Affairs at the State Department.

Headquartered in Paris, France, the OECD is an intergovernmental economic organisation with 36 member countries to stimulate economic progress and world trade.

She previously served as the Acting Under Secretary of Economic Growth, Energy and the Environment, and as a Deputy Assistant Secretary in the Bureau of Economic, Energy and Business Affairs at the State Department.

10.PCB bans Umar Akmal for three years

Pakistan batsman Umar Akmal was banned for three years by the PCB for failing to report corrupt approaches ahead of the country’s premier T20 league this year.The ban was imposed by its Disciplinary Panel chairman Justice (retired) Fazal-e-Miran Chauhan, who held a hearing.

The 29-year-old appeared before the panel at the National Cricket Academy in Lahore after not challenging a show cause notice issued to him by the PCB Anti-Corruption for not reporting an alleged offer to spot-fix in the 2020 Pakistan Super League.

11.Indian Distance Runner Jhuma Khatun Gets 4-year Ban For Doping

Middle distance runner Jhuma Khatun has been banned for four years by the Athletics Integrity Unit of the world governing body.He was banned for testing positive for a banned substance, steroid, in a nearly two-year-old doping case which the NDTL had failed to detect.

The 31-year-old Khatun’s dope sample collected during the National Inter-State Championships in June 2018 in Guwahati returned negative when it was tested by the National Dope Testing Laboratory (NDTL) in Delhi.

Khatun had won a bronze each in 1500m and 5000m in that Guwahati meet.

12.Noted playwright Bijay Mishra passes away

Noted playwright and lyricist of Odisha Bijay Mishra passed away.He was a pioneer of the modern theatre movement in Odisha, Mishra was recipient of many awards at the State as well as national level.

He won the Kendriya Sahitya Akademi award for his play ‘Vanaprastha’.

He won Odisha Sahitya Akademi and other State-level awards.

He also received the prestigious Jayadev Award for his lifetime contribution to Odia film industry at the 30th Odisha State Film Awards last year.