Centre appoints Manoj Panda as member of 16th Finance Commission

• The government has appointed Manoj Panda, former director at the Institute of Economic Growth as the full time member of the 16th Finance Commission.
• Panda replaces Niranjan Rajadhyaksha, Executive Director, Artha Global in the Commission, who quit as a member citing “unforeseen personal circumstances”.
• Panda’s research areas span monitoring and analysis of macro-economic trends and prospects, evaluation of alternative trade and fiscal policy options from the point of view of growth and distribution.
• Previously, Panda served as Director of the Centre for Economic and Social Studies (CESS), Hyderabad and as a Professor and Associate Professor at the Indira Gandhi Institute of Development Research (IGIDR), Mumbai.
• Panda also worked as an economist and senior economist at the New Delhi based National Council of Applied Economic Research.

Indian Coast Guard Inaugurates Aquatic Centre at Mandapam, Tamil Nadu

• Indian Coast Guard Director General Rakesh Pal inaugurated the Indian Coast Guard Aquatic Centre at ICGS Mandapam near Rameshwaram, Tamil Nadu, as part of his four-day visit to the maritime force’s bases in Tamil Nadu, Andhra Pradesh, and Puducherry.
• The visit aimed to review operational preparedness and infrastructure development in the region, with a focus on ensuring safe, secure, and clean seas.
• The Indian Coast Guard operates alongside the Indian Army, Navy, and Air Force as one of the four forces under the Defence Ministry, each governed by its own legislation.

Tamil Nadu:

• Formation: 1 November 1956
• Capital: Chennai
• Governor: R. N. Ravi
• Chief minister: M. K. Stalin

PCB appoints Azhar Mahmood as head coach

• The Pakistan Cricket Board (PCB) announced the appointment of former fast bowler Azhar Mahmood as the head coach of the men’s national cricket team for the upcoming five-match T20I series against New Zealand.
• Mahmood, a seasoned campaigner with both international and coaching experience, will be taking the reins for the series beginning on April 18th. He has previously served as Pakistan’s bowling coach and is currently the bowling coach for the reigning Pakistan Super League champions, Islamabad United.
• Wahab Riaz has been assigned the role of the manager for the senior team, and Mohammad Yousuf will serve as the batting coach. Saeed Ajmal, the spin bowling coach on previous tours of Australia and New Zealand, will continue in the same role.

Dixon to acquire majority stake of Ismartu India

• Leading contract manufacturer Dixon Technologies (India) will acquire a majority stake in Ismartu India, a firm engaged in electronics and mobile devices manufacturing, in an all-cash deal.
• The company has entered into a share purchase agreement to acquire 50.10 per cent stake in the first tranche from Ismartu Singapore, Transsion Technology Ltd, 5A advisors LLP.
• Through three different factories, Ismartu India makes handsets under the brands iTel, Infinix, and Tecno in India.
• The acquisition aligns with Dixon Technologies’ strategy to grow in this business segment and achieve strategic goals and business expansion.
• The consummation of this transaction will be subject to the approval of the Competition Commission of India ( CCI) and other customary closing conditions.

India secures second overseas port: Sittwe agreement approved by MEA

• The Ministry of External Affairs has approved India Ports Global (IPGL) ‘s proposal to take over the entire operation of the Sittwe port, located on the Kaladan River in the Rakhine province of Myanmar.
• Thus, the Sittwe port of Myanmar became the second international port after the Shahid Beheshti Port, Chabahar of Iran to come under the control of India Ports Global Limited.
• However, unlike the Chabahar port, where India controls only two terminals, India has full control over the Sittwe Port.
• The recently approved deal included a long-term lease of the port to India, which will be renewed every three years. The IPGL will raise resources to develop the port further.

Veteran cinematographer Gangu Ramsay of the iconic Ramsay Brothers passes away at 83

• The Indian film industry mourns the loss of Gangu Ramsay, an iconic cinematographer, filmmaker and producer who left an indelible mark on Bollywood. The second eldest son of FU Ramsay, Gangu passed away at the age of 83 after a prolonged illness.
• Gangu Ramsay’s creative genius shone through his contributions to over 50 iconic films produced under the Ramsay Brothers’ banner. His work on classic hits like Veerana, Purana Mandir, Bandh Darwaza, Do Gaz Zameen Ke Niche and Samri, among others, showcased his mastery of the craft. Notably, he collaborated with the late Rishi Kapoor on the unforgettable film Khoj.
• Gangu’s talent extended beyond the Ramsay Brothers’ productions, as he played an integral role in shaping Saif Ali Khan’s debut film, Ashiq Awara, and worked alongside Akshay Kumar in the popular Khiladi series, which included films such as Khiladiyon Ka Khiladi, Sabse Bada Khiladi, Mr and Mrs Khiladi, Pandav and Mr Bond.

S. Korea launches 2nd spy satellite into orbit with SpaceX Falcon 9

• South Korea’s second homegrown spy satellite had entered orbit after its launch on a SpaceX Falcon 9 rocket from the John F. Kennedy Space Center in Florida.
• The Falcon 9 rocket was launched and the satellite successfully separated from the launch vehicle 45 minutes later and entered its targeted orbit.
• The back-to-back launches of reconnaissance satellites come amid a race against North Korea for military capabilities in space.
• After two earlier attempts ended in rocket crashes, the South Korea used its own Chollima-1 launch vehicle to place the Malligyong-1 reconnaissance satellite in orbit.
• Seoul’s second spy satellite is equipped with a synthetic aperture radar (SAR) capable of producing images regardless of weather conditions due to how it processes data.
• South Korea will launch five spy satellites by 2025 under a contract with Elon Musk’s SpaceX.

PayU partners PayPal to improve cross-border payments for Indian merchants

• Leading online payment solutions provider PayU announced its partnership with the US-based fintech company PayPal to enhance the cross-border payment experience for Indian merchants.
• Through this partnership, the company will leverage the PayPal ISU 2.0 Checkout to offer customers a more personalised and inclusive payment experience.
• With this integration, customers will get the flexibility to choose from a variety of payment methods at checkout, including PayPal, PayPal Paylater, and various local Alternative Payment Methods (APMs) from customers outside India, such as Apple Pay, Venmo, Discover, MyBank, GiroPay, Blik, SoFort, Bancontact, and Trustly, among others, where available.
• PayPal ISU 2.0 facilitates a more efficient merchant onboarding process directly within the PayU dashboard, allowing Indian merchants to open accounts with PayPal, using an API-driven approach that reduces drop-offs and enables real-time activation,

Mendis and Bouchier named ICC Players of the Month for March 2024

• Sri Lanka’s Kamindu Mendis and England’s Maia Bouchier have been named the Men’s and Women’s Player of the Month for March 2024, the International Cricket Council (ICC) revealed.
• Mendis claimed the ICC Men’s Player of the Month award after his historic efforts at the crease helped Sri Lanka comfortably win the first Test in their ICC World Test Championship showdown against Bangladesh in Sylhet.
• Bouchier won the ICC Women’s Player of the Month prize for March 2024 thanks to a sparkling series of scores in New Zealand as the tourists secured a statement 4-1 T20I series win in March.

ICC

• Headquarters: Dubai, United Arab Emirates
• Founded: 15 June 1909
• Subsidiary: Asian Cricket Council
• CEO: Geoff Allardice
• Chairman: Greg Barclay

Bulgaria formally approves caretaker govt to run country until June 9 polls

• Bulgaria’s parliament formally approved an interim government to run the EU member country until snap parliamentary and regular European Parliament elections on June 9.
• Dimitar Glavchev, 60, was sworn in as interim prime minister at the National Assembly.
• He was picked by Bulgarian President Rumen Radev under recent constitutional amendments that limited his choice to just a few senior state officeholders.
• The move comes after the two largest political groups GERB and reformists led by We Continue the Change failed to find common ground to continue their uneasy coalition after nine months in office.
• n post-Comm Elections in post-Communist Bulgaria have been generally free and democratic, but issues like vote- buying and corporate voting have often been part of past election cycles.