RBI puts several constraints on the Mumbai­based Sarvodaya Co-operative Bank.

• In a significant move, the RBI has placed several constraints on the Mumbai-based Sarvodaya Co­operative Bank.
• The customers of the bank are now limited to a maximum withdrawal of Rs 15,000 from their accounts.
• This decision comes in response to the bank’s deteriorating financial health.
• Under the new directives, which fall under Section 35A of the Banking Regulation Act, 1949, the Sarvodaya Co-operative Bank faces strict limitations on its banking activities.
• It is no longer permitted to issue or renew loans and advances, make new investments, or incur additional liabilities without prior approval from the RBI.
• The bank is also restricted from making any payments to discharge its liabilities, unless explicitly approved.

Cipla to acquire Ivia Beaute's cosmetics, personal care biz for Rs 130 er

• Pharma major Cipla Ltd will acquire the cosmetics and personal care distribution and marketing business of Ivia Beaute Pvt Ltd, including the latter’s brands Astaberry, Ikin and Bhimsaini, on a worldwide basis for Rs 130 crore.
• This strategic move is aligned with Cipla’s focus on enhancing its consumer healthcare and wellness portfolio.
• The duo has signed a Business Transfer Agreement (BTA) for the same.
• The transaction is expected to be completed within 60 days from the signing ofBTA.
• With a brand legacy of over 16 years, Astaberry caters to consumers through a wide range of unique products to help them address their skincare needs.

Fintech firm BharatPe elevates Nalin Negi as CEO

• Fintech giant BharatPe has elevated Nalin Negi as its chief executive officer, more than a year after he took over as interim CEO and CFO after Sameer Suhail stepped down in January 2023.
• Negi, who joined BharatPe in 2022, was instrumental in driving the company’s significant growth and strategic advancements across key business segments.
• With over 28 years of experience in fintech and banking, N egi specialises in building and scaling businesses.
• Note: The appointment also comes three months after BharatPe announced the final close of its$100 Mn debt round that saw participation from Inno Ven Capital and Credit Saison.

BharatPe

• Founders: Ashneer Grover, Shashvat Nakrani
• Parent: Resilient Innovations Private Limited
• Founded: April 2018
• Headquarters: New Delhi

Mohun Bagan Super Giant crowned Shield Winners

• Mohun Bagan Super Giant became the Indian Super League (ISL) League Shield winners by def eating Mumbai City at the Salt Lake Stadium in Kolkata.
• The 2023-24 Indian Super League is the 10th season of the Indian Super League (ISL) and the 28th season of the top-tier in Indian football.
• This season had a mid-season break for the 2023 AFC Asian Cup.
• Premiers: Mohun Bagan SG 1st title
• AFC Champions League 2: Mohun Bagan SG
• SAFF Club Championship: Mumbai City
• Top goalscorer: Dimitrios Diamantakos ( 13 goals)

England and Kent legend Derek Underwood dies aged 78

• Former England spinner Derek Underwood, affectionately known as “Deadly” for his unparalleled skill on the cricket field, has died aged 78.
• With an illustrious career, he stood as the sixth­highest wicket-taker for England in Test cricket, amassing 297 dismissals in 86 appearances, alongside 32 in one-day internationals.
• Despite his success, Underwood’s career was not without its controversies.
• His decision to join World Series Cricket in the late 1970s and the rebel tour to South Africa in 1981-82 brought an abrupt end to his international career.
• Underwood’s life was marked by significant achievements and contributions to the sport.
• He was appointed an MBE in 1981 for his services to cricket and later served as President of the Marylebone Cricket Club (MCC).

British boxer Willie Limond dies aged 45

• Former British and Commonwealth champion Willie Limond has died at the age of 45.
• Limond fell ill last week amid preparations for a fight.
• Limond last faced fell ow countryman Ricky Bums in September and was scheduled to have his return fight in Glasgow on May 3 against Joe Laws.
• From 1999 to 2023, the Glaswegian won 42 of his 48 professional fights, including 13 by knockout; however, just three of those fights occurred after 2016.
• Four of Limond’s six defeats were against fighters who won world titles — Amir Khan, Anthony Crolla, Erik Morales, and Ricky Bums.
• During his boxing career, he won the Commonwealth light-welterweight, WBU lightweight, IBO Inter-Continental lightweight, and British super-featherweight, lightweight, and super-lightweight titles.

Veteran Kannada actor, director, and producer Dwarakish died

• Senior Kannada actor, director, and producer Dwarakish (81) passed away at his residence in Electronic City.
• The veteran actor had complained of respiratory probletns and passed away in his sleep later.
• Dwarakish made his debut as a comedy actor in Kannada cinema in 1964.
• After having a successful run as an actor, he ventured into production and direction of films.
• He debuted as a producer with Dr Rajkumar’s famous movie Mayor Mutthanna in 1969.
• He has produced close to 48 films and directed nearly 19 tnovies.
• Some of his iconic films that he either produced or directed were Mayor Mutthanna, Bhagyavantharu, Singaporenalli Raja Kulla, Guru Shishyaru, New Bareda Kadambari, Africadallo Sheela, Dance Raja Dance, Shruthi, and Apthatnitra.

Indian Air Force's oldest pilot Dalip Singh Majithia passes away at 103

• The oldest living pilot of the Indian Air Force, Squadron Leader Dalip Singh Majithia, died at the age of 103 in Uttarakhand.
• Born on July 27, 1920 at Shimla, Squadron Leader Majithia joined the Indian Air Force (IAF) volunteer reserve in 1940 during World War-II, following in the footsteps of his uncle Surjeet Singh Majithia (grandfather of Akali politician Bikramjit Singh Majithia).
• His father Kirpal Singh Majithia was a prominent figure in Punjab during the British rule as was his grandfather Sundar Singh Majithia who was associated with the Chief Khalsa Diwan and one of the founders of Khalsa College Amritsar.
• After completing his tenure in Australia, Dalip Singh Majithia retired from the Indian Air Force on March 18, 1947, and settled down at his family’s estate at Sardamagar, near Gorakhpur, in Uttar Pradesh.

Singapore PM Lee Hsien Loong to step down; Lawrence Wong to take charge

• Singapore Prime Minister Lee Hsien Loong wil step down form his position on May 15, after two-decade long leadership.
• The planned succession will introduce Lawrenc Wong as his successor.
• Wong, serving as the finance minister and deput prime minister, enjoys unanimous backing from th ruling party’s lawmakers.
• Under Lee’s stewardship, Singapore underwent remarkable economic transformation, with its gros domestic product per capita soaring to nearl$92,000, ranking among the highest globally.
• Simultaneously, Singapore also strengthened itsel as a hub for foreign investment atnid escalatin regional competition.

Singapore

• Capital: Singapore
• President: Tharman Shanmugaratnam
• Chief Justice: Sundaresh Menon
• Currency: Singapore dollar

Bramha Kumar appointed as India's next Ambassador to Zimbabwe

• Minstry of External Affairs (MEA) Joint Secretary Bramha Kumar has been appointed as India’s next ambassador to Zimbabwe.
• Bramha Kumar, a 2005 batch Indian Foreign Service officer, is expected to take up the assignment shortly.
• He will replace Vijay Khanduja, who was appointed the ambassador on November 9, 2020.
• Khanduja had earlier worked in various capacities serving as Director (UN Economic & Social) Division of the Ministry of External Affairs, since 2017.

Who is an ambassador?

• An ambassador is an official envoy, especially a high-ranking diplomat who represents a state and is usually accredited to another sovereign state or an international organization as the resident representative of their own government for a special diplomatic assignment.