Wing Commander Deepika Misra is first IAF woman officer to receive gallantry award

Wing Commander Deepika Misra has made history as the first female Air Force officer to receive a gallantry medal. She was awarded the Vayu Seva Medal for gallantry by the President of India on Independence Day in the previous year, and recently received the award from the Air Chief Marshal of the Indian Air Force at an investiture ceremony in New Delhi.

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In August 2021, Wing Commander Deepika Mishra was assigned the task of carrying out Humanitarian Assistance and Disaster Relief operations following flash floods in northern Madhya Pradesh. Despite adverse weather conditions, including strong winds and the approaching night, she was the sole individual to arrive at the disaster site that same evening. Her courageous actions and dedication to duty helped rescue 47 individuals, and as a result, she became the first female Air Force officer to be honored with a gallantry award, the Vayu Seva Medal for gallantry, which she received at an investiture ceremony in New Delhi from Air Chief Marshal VR Chaudhari.

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Russia now the biggest Oil Supplier to India

Official data revealed that Russia remained the biggest supplier of crude oil to India in terms of value in February, even though there was a cap on western prices at $60 per barrel. In February, India imported crude oil worth $3.35 billion from Russia, with Saudi Arabia coming second at $2.30 billion and Iraq at $2.03 billion.

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Russia now the biggest Oil Supplier to India: Key Points

During the period from April to February, India’s imports of Russian oil surged to $27 billion, placing Russia as the second-largest crude oil exporter to India in FY23, following imports from Iraq which totaled $30 billion.
Other significant exporters included Saudi Arabia at $26.8 billion, followed by the UAE at $15.6 billion, the US at $10.05 billion, and Kuwait at $7.59 billion.
In February, Russia continued to be the leading oil exporter, with India importing crude oil worth $3.35 billion from Russia, $2.30 billion from Saudi Arabia, and $2.03 billion from Iraq, indicating that there was little change in the import trends despite the price cap imposed in December.

India’s Oil Needs fulfilled by Imports: Deepto Roy

Deepto Roy, a Partner at Shardul Amarchand Mangaldas & Co, has stated that since 80% of India’s oil needs come from imports, and a large part of that is being supplied by Russia, it is strategically important for India to continue purchasing Russian crude even if it exceeds the price cap.
However, whether Indian companies should buy above the price cap would depend on various factors, such as the availability of alternative sources.
Additionally, Indian entities purchasing Indian crude are not recognized or subject to sanctions under Indian law.

According to Roy, companies could face sanctions from international banks, shareholders, or directors. The sanctions system is intricate and extensive, so Indian companies should seek legal guidance on how sanctions could affect them and what steps they should take.

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G7’s attempt to limit Russia Oil Revenue

BP’s top economist, Spencer Dale, recently commented that the price cap imposed by the G7 countries aimed to limit Russia’s oil revenue while ensuring a sufficient oil supply.
He observed that the price cap has been more successful than expected in achieving this goal.
During the fiscal year 2023, Russia became a significant oil supplier to India for the first time, providing oil at discounted rates amidst the conflict in Ukraine.
Despite concerns expressed by the West regarding India’s imports from Russia during the conflict, India has remained firm, stating that it will explore all options to secure its energy needs.

Finance Minister Nirmala Sitharaman recently stated that India could continue purchasing Russian oil even if the price exceeded the cap.

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A Madhavarao set to be next CMD of Bharat Dynamics Ltd

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A Madhavarao, who currently serves as the Director (Technical) at Bharat Dynamics Limited (BDL), a Public Sector Undertaking (PSU) under the Ministry of Defence, has been recommended as the next Chairman and Managing Director (CMD) of the company. The recommendation was made by the Public Enterprises Selection Board (PESB) panel after conducting interviews with five candidates, including two from Bharat Heavy Electricals Limited (BHEL), and one each from BDL, Indian Navy, and Indian Air Force. Madhavarao was chosen from the list of five candidates interviewed by the PESB selection panel.

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Madhavarao has an extensive educational background, having graduated from various institutes and universities. He has earned a Bachelor’s degree in Electrical Engineering, a Master’s degree in Electronics & Telecommunication, an MSc in Defence Studies, an MBA in Finance, and a Master’s degree in Management Studies. In addition to his current position as Director (Technical) in BDL, he has also had a successful career in the Indian Navy that lasted for more than 30 years.

About the Bharat Dynamics Limited

Bharat Dynamics Limited (BDL) is a public sector undertaking (PSU) under the Ministry of Defence, Government of India. It was established in 1970 in Hyderabad, Telangana, with the objective of manufacturing guided missiles and allied defence equipment. BDL has state-of-the-art manufacturing facilities for guided missiles, torpedo launchers, countermeasures dispensing systems, and other defence equipment. The company is known for its quality products and has been awarded the coveted ISO 9001:2015 certification for its manufacturing facilities. BDL plays a significant role in India’s defence sector and has contributed significantly to the nation’s strategic programmes.

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Star Sports signs Rishabh Pant as brand ambassador

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The Walt Disney Company-owned Star Sports has signed cricketer Rishabh Pant as its latest brand ambassador. The company said it also has other cricketers as its ‘Believe Ambassadors’ like Hardik Pandya, Ravindra Jadeja, KL Rahul, and Shreyas Iyer. Star Sportssaid it only had two ambassadors in 2017. Cricketer Virat Kohli is also part of this association. The ambassadors will represent different parts of the country as well as different IPL Teams, the broadcaster said. “The ‘Believe Ambassadors’ represent different parts of the country as well as different IPL Teams. Star Sports will work closely with the Cricketers to develop new campaigns and properties to grow the popularity of the sport and drive fandom, especially amongst youngsters.

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Earlier today competitor Viacom18-owned JioCinema also signed Rohit Sharma, captain of the men’s cricket India, as its brand ambassador. The Reliance Industries-controlled broadcast network outbid rival Disney Star to pick up the five-year digital rights of the league with a bid amount of ₹23,757.5 crore, while the latter retained TV rights for ₹23,575 crore.

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Assam-Arunachal Pradesh Resolve Long-Standing Border Disputes with Landmark Pact

Assam-Arunachal Pradesh Resolve Long-Standing Border Disputes

In the presence of Union Home Minister Amit Shah, an agreement was signed between Assam and Arunachal Pradesh to resolve a border dispute that had been ongoing for over 50 years. This agreement will lead to the settlement of 123 villages located in areas shared by the two northeastern states.

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Landmark Pact between Assam and Arunachal Pradesh: Key Points

The agreement was signed by the Chief Minister of Assam, Himanta Biswa Sarma, and his counterpart from Arunachal Pradesh, Pema Khandu.
There has been a border dispute between the two states since Arunachal Pradesh became a union territory in 1972, which continued when it became a state in 1987.
The length of the disputed border is 804.1 kilometers.
Shah announced that the disagreement over 123 villages located on either side of the state border has been conclusively resolved.
This noteworthy occurrence took place during the country’s 75th Independence Day celebrations.
Shah expressed his satisfaction that Assam and Arunachal Pradesh were able to peacefully settle their longstanding border dispute, which had been ongoing since 1972.
He also expressed confidence that this boundary settlement would lead to comprehensive progress and tranquility in the Northeast region.
The minister responsible for domestic affairs stated that Modi has been strongly advocating for the development of the languages, literature, and culture of the Northeast region.
The outstanding achievement of the Bihu dance is an excellent illustration of this.
The minister also mentioned that the report on the border dispute from the Local Commission has been circulating for many years. However, it has now been accepted by both states.
He believes that this agreement will be a significant step forward in fulfilling Modi’s vision of a peaceful, prosperous, and conflict-free Northeast region.

Home Minister on Landmark Pact between Assam and Arunachal Pradesh

Amit Shah mentioned that the central government has entered into multiple agreements since 2018, including with the Bru tribe, insurgent groups such as NLFT, and some from Karbi Anglong in Assam, resulting in peace and cessation of violence in the Northeastern region.

He noted that there has been a significant decrease in violent incidents, with a 67% reduction since 2014, a 60% decrease in security forces’ deaths, and an 83% reduction in civilian deaths in the area, which is a commendable achievement.

The minister of home affairs also highlighted that the Modi administration has revoked the Armed Forces (Special Powers) Act from most places in Assam, 15 police stations in six Manipur districts, all but three districts in Arunachal Pradesh, seven districts in Nagaland, as well as the entire Tripura and Meghalaya regions.

CM of Assam and A.P. on the Landmark Pact

The chief minister of Assam, Sarma, referred to the signing of the MoU as a significant moment in history and believed that it would bring about peace and prosperity. He stated that this resolution was only possible due to the prime minister’s support, the guidance of the union home minister, and the unwavering support of the chief minister of Arunachal Pradesh. This agreement ends one of India’s most prolonged inter-state disputes after 51 years.

Similarly, the chief minister of Arunachal Pradesh, Khandu, described the resolution of the boundary dispute as an important moment in history and was optimistic that it would transform the peace and development of both states.

About the Landmark Pact between Assam and Arunachal Pradesh

There are a total of 71 villages along the border of Assam and Arunachal Pradesh, and changes will be made to which state they belong to.
One village will be transferred from Arunachal Pradesh to Assam, while 10 villages will remain in Assam and 60 will be transferred to Arunachal Pradesh.
The status of 49 villages will be finalized by regional committees within six months, while three villages located in an IAF bombing range will require rehabilitation.
The agreement aims to resolve the dispute over the 123 villages along the border, taking into account historical background, demographics, administrative convenience, proximity to the border, and the residents’ aspirations.
The agreement is considered final, and neither state can make new claims to any area or village in the future.

After the agreement, representatives from both state governments will conduct a thorough survey with the Survey of India to determine the state boundaries. As a goodwill gesture, the Arunachal Pradesh government will give a large piece of land under its possession in Jorhat to the Assam government, according to Sarma.

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World Creativity and Innovation Day 2023: 21 April

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World Creativity and Innovation Day 2023

World Creativity and Innovation Day is celebrated annually on April 21 to raise awareness about the crucial role that innovation and creativity play in human development. Creativity is the use of imagination, thinking, and skills to create new ideas, while innovation is the process of using creativity, knowledge, and skills to improve existing ideas or develop new products. This day is focused on achieving Sustainable Development Goals through promoting and celebrating creativity and innovation. The history and significance of this day revolve around recognizing the value of creativity and innovation in improving the quality of life, fostering economic growth, and addressing global challenges.

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World Creativity and Innovation Day: Significance

World Creativity and Innovation Day is significant because it raises awareness about the crucial role that creativity and innovation play in human development and solving global problems. The day encourages individuals and organizations to use their creativity and innovation to develop new and innovative solutions that promote sustainable development and improve people’s lives. By recognizing the value of creativity and innovation, the day fosters economic growth, generates employment, and enhances the overall quality of life. The United Nations has also recognized the importance of creativity and innovation in achieving its Sustainable Development Goals, making World Creativity and Innovation Day an essential part of its global initiative.

World Creativity and Innovation Day: History

World Creativity and Innovation Day is a part of the World Creativity and Innovation Week that begins on April 15, celebrated as World Art Day in honor of Leonardo da Vinci’s birthday and ends on April 21. Marci Segal, a creativity specialist and futurist from Canada, founded this day in 2002 with the objective of inspiring people to employ creativity to develop fresh ideas, bring positive transformation, and perform problem-solving.

The United Nations (UN) recognized the importance of creativity and innovation in promoting sustainable development and included World Creativity and Innovation Day as a part of its initiative “Transforming our world: the 2030 Agenda for Sustainable Development.” In 2013, the UN jointly published a report with UNESCO and UNDP that emphasized the significance of human creativity and innovation in the development of micro, small, and medium-sized industries.

In recognition of the importance of creativity and innovation, the UN declared April 21 as World Creativity and Innovation Day in 2017 during its 79th plenary meeting at the seventy-first session of the United Nations General Assembly (UNGA). The first World Creativity and Innovation Day was celebrated in 2018.

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New York City tops the list of world’s wealthiest cities 2023

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According to a recent report by London-based consultancy Henley & Partners, New York City has been ranked as the world’s wealthiest city in 2023. The second and third spots were claimed by Tokyo in Japan and Silicon Valley’s Bay Area, respectively. Notably, Mumbai made it to the 21st spot while Delhi, Bengaluru, Kolkata, and Hyderabad were also mentioned in the report.

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India and World’s wealthiest cities 2023:

The rankings were based on the number of resident millionaires (rounded off to the nearest 100) as of December 31, 2022. Interestingly, the top 10 cities were dominated by those in the United States and China, with no European city featuring in the list, except for London.

According to the report, Bengaluru has been recognized as one of the fastest-growing cities in the Asia Pacific region. The city is commonly referred to as the “Garden City” and the “Silicon Valley of India” due to its thriving technology sector.

World’s Wealthiest Cities Report 2023:

Henley & Partners compiled the World’s Wealthiest Cities Report 2023, covering 97 cities worldwide. The report utilized data from wealth intelligence firm New World Wealth, which tracks the financial activities of high-net-worth individuals holding designations like Founder, Chairperson, CEO, and Director. The report also took into account the number of expensive homes in each city, as stated on the Henley & Partners website.

Here are the top 15 cities ranked in the World’s Wealthiest Cities Report 2023, along with the number of high-net-worth individuals:

New York City, United States – 340,000
Tokyo, Japan – 290,300
The Bay Area, United States – 285,000
London, United Kingdom – 258,000
Singapore, Singapore – 240,100
Los Angeles, United States – 205,400
Hong Kong, SAR China – 129,500
Beijing, China – 128,200
Shanghai, China – 127,200
Sydney, Australia – 126,900
Chicago, United States – 124,000
Toronto, Canada – 105,200
Frankfurt, Germany – 102,200
Zurich, Switzerland – 99,300
Houston, United States – 98,500

In terms of Indian cities, Mumbai ranked 21st with 59,400 high-net-worth individuals, while Delhi ranked 36, Bengaluru is at 60, Kolkata is at 63, and Hyderabad is at 65.

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HSBC signs up Virat Kohli as their brand influencer

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HSBC India has recently announced Virat Kohli, the former captain of the Indian cricket team, as its brand ambassador. The financial services company issued a press release on April 19 to confirm the partnership. According to the release, the association with Kohli will involve a multi-media campaign that will showcase the benefits of banking with HSBC. The campaign will highlight the value proposition of the bank and demonstrate how HSBC can help customers achieve their financial goals.

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Significance of the Virat Kohli as brand influencer of HSBC

In a recent press release, HSBC India has stated its intention to increase its focus on the Indian market, citing its extensive range of products and services as an advantage in supporting various sectors of the Indian economy. As part of this strategy, the financial services company has expressed a desire to support startups and assist Indian corporates in their global ambitions.

HSBC India’s decision to appoint Virat Kohli as its brand influencer is part of this effort to expand its presence in the Indian market. In the release, Kohli expressed his admiration for HSBC’s commitment and disciplined approach, stating that these values align with his own belief system of discipline, commitment, and focus. HSBC India CEO Hitendra Dave noted that Kohli’s appeal and pursuit of excellence reflect the company’s growth ambitions in India, adding that HSBC is eager to partner with India as it continues to make its mark on the global stage.

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SBI seeks $500 million through issuance of dollar bonds

According to the sources, the biggest financial institution in the country, State Bank of India (SBI) is anticipated to begin discussions with investment banks next week regarding a proposed offering. The size of the offering may be increased based on investor interest. The offering is expected to be arranged by banks from Europe, Japan, and the United States.

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SBI seeks $500 million through dollar bonds: Key Points

SBI has initiated initial discussions with overseas banks to obtain roughly $500 million by releasing bonds in US dollars, complying with regulations under Reg S/144 A.
The objective behind this action is to gather funds and monitor the upcoming FOMC meeting planned for the first week of May.
Next week, SBI is anticipated to initiate communication and interaction with investment banks to raise $500 million through a global bond issuance.
The extent of this fundraising could potentially increase, contingent on the response received from investors.
SBI is expected to contact significant banks from Europe, Japan, and the United States.
According to the report, the borrowing rate of the State Bank of India (SBI) is anticipated to be similar to other banks operating in the same field.
The report suggests that SBI’s pricing is expected to be based on the rates offered by Kookmin Bank of South Korea. Kookmin Bank recently raised a five-year bond at a rate of 95 basis points (bps) above the five-year US treasury rate.
The report also states that SBI currently has bonds worth $600 million that will mature in September 2023 and bonds worth $800 million that will mature in early 2024.

State Bank Of India (SBI): Important Takeaways

State Bank of India (SBI) is the largest public sector bank in India and has a wide network of branches and ATMs throughout the country.
SBI was established in 1955 and is headquartered in Mumbai, India. It has a history of more than 200 years, having evolved from the Bank of Calcutta, which was established in 1806.
Chairman of SBI: Dinesh Kumar Khara

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Tennis legend Jaidip Mukerjea launches his autobiography “Crosscourt”

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Jaidip Mukerjea, a renowned tennis player, launched his autobiography titled “Crosscourt” in the presence of prominent Indian tennis players such as Ramesh Krishnan and Somdev Devvarman. The book chronicles Mukerjea’s journey and provides insight into his life as a successful tennis player. “Crosscourt” is not just about tennis but also covers various aspects of his personal life, including his triumphs, disappointments, relationships, and behind-the-scenes moments. Mukerjea’s wife, Sharmin, played a crucial role in encouraging and assisting him in writing the book. According to her, the book is a collection of memories that will captivate readers beyond just the sport of tennis.

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Russia now the biggest Oil Supplier to India

Russia now the biggest Oil Supplier to India: Key Points

India’s Oil Needs fulfilled by Imports: Deepto Roy

G7’s attempt to limit Russia Oil Revenue

About the Bharat Dynamics Limited

Assam-Arunachal Pradesh Resolve Long-Standing Border Disputes

Landmark Pact between Assam and Arunachal Pradesh: Key Points

Home Minister on Landmark Pact between Assam and Arunachal Pradesh

CM of Assam and A.P. on the Landmark Pact

About the Landmark Pact between Assam and Arunachal Pradesh

World Creativity and Innovation Day 2023

World Creativity and Innovation Day: Significance

World Creativity and Innovation Day: History

India and World’s wealthiest cities 2023:

World’s Wealthiest Cities Report 2023:

Here are the top 15 cities ranked in the World’s Wealthiest Cities Report 2023, along with the number of high-net-worth individuals:

Significance of the Virat Kohli as brand influencer of HSBC

SBI seeks $500 million through issuance of dollar bonds

SBI seeks $500 million through dollar bonds: Key Points

State Bank Of India (SBI): Important Takeaways

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