SIDBI partners fin tech platform KarmaLife for micro loans

• Small Industries Development Bank of India (SIDBI) has entered into an agreement with a fintech Onion Life Private Limited to use the latter’s technology platform KarmaLife for a pilot to provide micro loans to gig workers.
• This is expected to support the gig workers’ financial inclusion to formal institutional credit.
• KarmaLife will help gig workers access micro loans through a mobile app and eliminates the hassle of extensive paperwork or physical documentation.
• This streamlined process will make it easier for gig workers to manage the liquidity needs of their enterprise activities.
• With the gig economy rapidly growing in India, there is a pressing need to provide affordable and accessible financial support to non-salaried gig workers who provide their services through gig platform aggregators for livelihood.

Peter Pellegrini Wins Slovakia Presidential Elections

• Populist Peter Pellegrini has been elected president of Slovakia, succeeding the liberal Zuzana Caputova.
• Mr Pellegrini, 48, defeated the pro-Western Ivan Korcok, a former diplomat, with 53% of the vote.
• Pellegrini’s election aligns with Fico’s pro-Russian foreign policy shift, including halting weapon shipments to Ukraine and questioning Western involvement in conflicts. While portraying Korcok as a warmonger for supporting Ukraine, Pellegrini maintains a commitment to EU and NATO memberships but emphasizes peace over conflict.

Slovakia:

• Capital: Bratislava
• President: Zuzana Caputova
• Prime Minister: Robert Fico
• Currency: Euro

Srinivas Pallia: Wipro's New MD and CEO

• Wipro has announced the appointment of Srinivas Pallia as its new Managing Director and CEO, succeeding Thierry Delaporte who has resigned from the post.
• Srinivas Pallia is a Wipro veteran, having spent over three decades at the company.
• Most recently, he served as the CEO for Americas 1. In this role, he managed various industry sectors, set their goals, and executed plans to expand, leading to higher market shares in those sectors.
• Srinivas Pallia also serves on the Wipro Executive Board.
• He joined Wipro in 1992 and has held many leadership positions, including President of Wipro ‘s Consumer Business Unit and Global head of Business Application Services.
• Pallia began his career journey at Wipro as a product manager, progressing through different positions, such as President of the Consumer Business Unit and Chief Executive of the RCTG Business Unit.

Indian Shuttlers Anupama Upadhyaya, M Tharun Clinch Their Singles Titles At Kazakhstan International Badminton Challenge Tournament

• Indian shuttlers Anupama Upadhyaya and M. Tharun have clinched Women’s and Men’s singles titles, at Kazakhstan International Badminton Challenge tournament in Astana.
• Anupama defeated Isharani Baruah in an all­Indian women’s singles final.
• In the Men’s final, Tharun beat eighth-seeded Malaysian Soong Joo Ven.
• However, in mixed doubles, Sanjai Srivatsa Dhanraj and Maneesha K pair lost to Malaysia’s Wong Tien Ci and Lim Chiew Sien in the summit clash.

Edtech firm Aakash Educational Services appoints Deepak Mehrotra as new CEO

• Edtech firm Byju’s group firm Aakash Educational Services Ltd has appointed Deepak Mehrotra as its managing director and chief executive officer.
• The position of CEO at Aakash has been lying vacant after Abhishek Maheshwari resigned from the company in September 2023.
• With over 35 years of experience in executive roles, Mehrotra has worked across FMCG, Telecom, and Education industries. Prior to joining AESL, he was the Managing Director at Ashirvad pipes. He has also worked at Pearson India, Bharti Airtel, Coca-Cola, and Asian Paints.
• An IIT Roorkee electrical engineering alumnus, Mehrotra has completed an Executive program from The Wharton School, Philadelphia (USA).

Air India appoints Jayaraj Shanmugam as head of global airport operations

• Tata-Group owned Air India announced the appointment of Jayaraj Shanmugam as head of global airport operations.
• Shanmugam will assume his role on April 15 and will report to chief operations officer Klaus Goersch, said the company in an official statement.
• Shanmugam joins Air India from Bangalore International Airport Limited (BIAL ), where he served as the chief operating officer, overseeing the operationalisation of the new Terminal 2.
• With a distinguished career spanning over 25 years in the airline, airport, and telecom industries, Shanmugam has previously worked with renowned companies such as Singapore Airlines, Qatar Airways, and Jet Airways.

Hyundai, Kia partner with Exide Energy for EV battery localisation in India

• South Korean auto majors Hyundai Motor Company and Kia Corporation announced a partnership with homegrown battery maker Exide Energy Solutions Ltd for electric vehicle battery localisation in India.
• Hyundai Motor Company and group firm Kia Corporation have signed a Memorandum of Understanding (MOU) with Exide Energy Solutions Ltd, a leading Indian battery company, as part of their electric vehicle (EV) expansion plans, Hyundai Motor Group said in a statement.
• Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells in line with the expansion of their EV plans for the Indian market
• Hyundai Motor India has already announced that it plans to launch its high-volume EV model in 2025. The company currently sells IONIQ5 and Kona in the EV segment. On the other hand Kia India sells the EV6 model.

US & China Agree To Hold Intensive Exchanges On Balanced Growth

• The United States and China have agreed to hold ”intensive exchanges on balanced growth”.
• The two sides have agreed to hold talks and create two economic groups focused on a wide range of issues, including addressing US complaints about China’s economic model, growth in domestic and global economies and efforts against money laundering.
• The agreement comes on the second day of an official visit to China by US Treasury Secretary Janet Yellen, during which she has urged Chinese leaders to change their domestic manufacturing policies.

United States.

• Capital: Washington, D.C.
• President: Joe Biden
• Vice President: Kamala Harris
• Currency: U.S. dollar

Sitars, tanpuras made in Maharashtra's Miraj town get awarded with GI tags

• The sitars and tanpuras of Miraj, a small town in Maharashtra’s Sangli district known for its craftsmanship in making musical instruments, have been awarded the coveted Geographical Indication (GI) tags.
• These instruments made in Miraj are much in demand among some of the prominent artistes, including those renowned in the field of classical music as well as film industry, the makers claim.
• The GI tag denotes the product comes from a particular geographical area, and often enhances its commercial value.
• The tradition of making sitars and tanpuras in Miraj goes back more than 300 years, with over seven generations of craftsmen having worked towards making these string instruments.
• The sitars and tanpuras made in Miraj have a high demand, which cannot be met due to the limited resources available locally.

TCS World 10k Bengaluru 2024 Olympic Champion Valerie Adams Named International Event Ambassador

• Iconic shot putter and two-time Olympic medalist, Valerie Adams, has been named the International Event Ambassador for the 16th edition of the Tata Consultancy Services World 10K Bengaluru, to be held on April 28, 2024.
• The 39-year-old from New Zealand is arguably the most successful female shot putter of all time.
• Across her five Olympic appearances, she has won two gold medals (in 2008 and 2012), a silver (in 2016), and a bronze medal (in 2020). Adams is also a four-time World Champion, four-time World Indoor Champion, and three-time Commonwealth Games winner.
• She is the only woman to have won world championships at the youth, junior, and senior levels, and the first woman to win four consecutive individual titles at the World Championships. In 2014, Adams was honored with the IAAF World Athlete of the Year title.