Topic: Banking System
1. Canara Bank has entered into partnership with Additional Skill Acquisition Programme (ASAP) Kerala to launch skill loans.
- Students pursuing skill training programmes of ASAP Kerala can take loans from ₹5,000 to ₹1.5 lakh.
- Students who are pursuing skill training programmes offered by Central or State government-recognised agencies can also take skill loans.
- The loans can be taken by the students of those agencies which conduct National Skills Qualifications Framework (NSQF) or National Skill Development Corporation (NSDC) courses.
- The skill loans will be provided to students without any collateral. They will have a repayment period of 3 to 7 years.
- Canara Bank:
- It was founded in July 1906. It is headquartered in Bengaluru.
- Lingam Venkat Prabhakar is its CEO.
- Recently, the government has merged Syndicate bank with Canara bank.
Topic: Reports and Indices
2. Services Purchasing Managers’ Index (PMI) increased to 57.9 in April 2022.
- It stood at 53.6 in March. Services PMI in April 2022 has shown fastest increase since November 2022.
- Services sector contributes 54% of Gross Value Added (GVA) of economy of India.
- S&P Global compiles Services PMI. Services PMI is compiled from responses to questionnaires sent to a panel of around 400 service sector companies.
- Consumer (excluding retail), transport, information, communication, finance, insurance, real estate, and business services are covered.
Topic: Infrastructure and Energy
3. The number of Sagarmala projects increased to 1,537 and capital expenditure outlay increased to ₹6.5 trillion.
- The number of Sagarmala projects was earlier 802 at the investment of ₹5.48 trillion.
- The investment target for Sagarmala projects has been increased by Rs 1 trillion to Rs 6.5 trillion.
- 735 projects have been added new following a meeting of the National Sagarmala Apex Committee.
- As per Union Minister of Ports, Shipping and Waterways, government will carry out 567 projects worth ₹58,700 crore.
- Government will take these projects for the development of coastal districts across the country.
- Rest 168 projects worth ₹41,300 crore are mainly for improving connectivity.
- 202 projects worth Rs 99,281 crore have been completed till now.
- Over 200 projects worth Rs 2.12 trillion will be completed in coming 2 years.
- It is a port-led development programme. It was launched in March 2015.
- Its objective is to achieve port modernization & new port development, port connectivity enhancement, port-led industrialization and coastal community development.
4. RBI has approved appointment of M Narayanan as part-time Chairman of the City Union Bank.
- The appointment has been approved for the period of two years with effect from May 4, 2022.
- Narayanan became independent director in the Board of the City Union Bank on May 3, 2016.
- Narayanan replaces R Mohan as part-time Chairman of the City Union Bank.
- City Union Bank is an Indian bank headquartered in Kumbakonam, Tamil Nadu. It is a Private Sector Bank.
Topic: Banking System
5. Indian Banks’ Association has said that banks have started work to operationalize 75 DBUs in 75 Districts by July 2022.
- The banks that have started work include all the Public Sector Banks, ten Private Banks and one Small Finance Bank.
- In Union Budget 2022-23, Finance Minister announced that 75 Digital Banking Units (DBUs) will be set up in 75 districts to commemorate 75 years of independence.
- In its guidelines for DBUs, RBI has allowed Scheduled Commercial Banks (SCBs) with past digital banking experience to open DBUs in Tier 1 to Tier 6 centres.
- DBUs of banks will be treated as Banking Outlets (BOs). A DBU is a specialised fixed point business unit/hub.
- It has certain minimum digital infrastructure for delivery of digital banking products and services.
6. BPCL Kochi Refinery has won IMC Ramakrishna Bajaj National Quality Award – 2021.
- BPCL Kochi Refinery won the award in the Manufacturing Category.
- IMC Ramakrishna Bajaj National Quality Award (RBNQA) was started by IMC Chamber of Commerce & Industry, Mumbai, in 1996.
- It gives special recognition to performance excellence in Indian organizations.
- BPCL Kochi Refinery is located in Kochi, Kerala. In terms of production capacity, it is largest public sector refinery in India.
7. Inaugural session of JITO Connect 2022 virtually addressed by PM Modi.
- JITO Connect 2022 is a three-day global summit that is being organized from May 6-8 by Jain International Trade Organisation (JITO) in Pune.
- The theme of this summit is ‘Together Towards Tomorrow’.
- On this occasion, Prime Minister gave a new dimension to the word EARTH.
- E means environment where one should encourage the practices that protect the environment.
- A means agriculture and natural farming, farming technology and food processing sector.
- R means recycling and focusing on the circular economy.
- T means technology for all and H means health care.
- Jain International Trade Organisation is a global body connecting Jains worldwide.
8. Archana Gulati has been appointed as India public policy head by Google.
- She worked as a joint secretary of digital communications at NITI Aayog till March 2021.
- She also worked as a senior official at Competition Commission of India between 2014 and 2016.
- Last year, Rajiv Aggarwal was hired by Meta Platforms Inc as its head of policy.
- In 2019, Anand Jha joined Walmart as India public policy officer.