 David Malpass has been appointed as the President of the World Bank. He was US President Donald Trump’s nominee and won unanimous approval from the institution’s executive board. He has replaced Former World Bank President Jim Yong Kim who left in January 2019. Malpass was former Bear Stearns and Co chief economist who advised Trump’s 2016 election campaign.
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| Source- The Hindu |
 The Competition Commission of India (CCI) approved engineering and construction major Larsen & Toubro’s (L&T’s) proposal to acquire up to 66.15% stake in Mindtree. With this nod, L&T has overcome the first major regulatory hurdle in its bid for ‘hostile’ takeover of the Bengaluru-headquartered IT services firm. |
| Source- Business Standard |
 In India, the National Maritime Day is celebrated every year on April 5. The day was first celebrated on April 5, 1964. The theme of the 56th edition of the National Maritime Day is “Indian Ocean-An Ocean of opportunity”. Hundred years ago, on this day in 1919, navigation history was created when SS Loyalty, the first ship of The Scindia Steam Navigation Company Ltd travelled to the United Kingdom. |
| Source- The Times Now |
 Phayeng Village in Imphal West district of Manipur has become India’s first carbon-positive settlement. A village is given carbon-positive tag if it sequesters more carbon than it emits, slowing accumulation of greenhouse gases (GHGs) and mitigating effects of climate change. Phayeng Village is scheduled caste village of the Chakpa community. National Adaptation Fund for Climate Change (NAFCC) is a Central Sector Scheme launched un 2015-16 to support concrete adaptation activities which mitigate the adverse effects of climate change. It provides 100% funding to activities under it which are implemented in project mode. National Bank for Agriculture and Rural Development (NABARD) nodal implementation agency for these projects. |
| Source- The Indian Express |
 India has signed an MoU with the National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) for setting up the India-Africa Institute of Agriculture and Rural Development (IAIARD) in Malawi, a landlocked country in southeastern Africa. Ministry of External Affairs signed with NABCONS for setting up IAIARD, an attempt to complement the efforts of the Government of India to enhance capacity in the areas of agro-financing and entrepreneurship development for African countries. |
| Source- Business Standard |
 In a bid to further improve the cash position of banks, RBI has tweaked Liquidity Coverage Ratio (LCR) norms to provide an additional 2% window to lenders. As per RBI Governor Shaktikanta Das, this move will harmonise the liquidity requirements of banks and release additional money for lending. LCR indicates the proportion of highly liquid assets held by banks to ensure their ability to meet short-term obligations. |
| Source- AIR World Service |
 CS Rajan has been appointed Managing Director while Vineet Nayyar named as Executive Vice-Chairman of Infrastructure Leasing & Financial Services (IL&FS). Rest of the new board comprises of Bijay Kumar as the deputy managing director and GC Chaturvedi, Nand Kishore, Malini Shankar, and N Srinivasan as non-executive directors. |
| Source: Money Control |
 The 7th Foreign Office consultations between India and Italy were held in New Delhi. The Indian side was led by Secretary (West), Ministry of External Affairs, A. Gitesh Sarma. The Italian side was led by Director General of Global Affairs of the Ministry of Foreign Affairs of Italy, Luca Sabbatucci. These consultations were aimed to provide an opportunity to review the follow-up actions taken after the visit of Italian Prime Minister Giuseppe Conte in October 2018 as well as the entire range of bilateral relations. |
| Source- DD News |
 The Bureau of Indian Standards (BIS) has inked an MoU with the Indian Institute of Technology, Delhi (IIT-D) to collaborate in the field of standardisation and conformity assessment. The MoU was signed by IIT Delhi Director Professor V Ramgopal Rao and Director General of BIS Surina Rajan. According to the MoU, IIT Delhi will provide infrastructure support for research and development projects of relevance to standardisation and BIS will provide financial support to IIT Delhi for projects. |
| Source- Hindustan Times |
 BSE (earlier known as Bombay Stock Exchange) and India International Exchange (India INX) have signed a memorandum of understanding with Moscow Exchange (MOEX) to connect investor community and companies in both countries besides allowing a capital formation platform. BSE and India INX are the first Indian exchanges to enter into the MoU with Moscow exchange. The exchange companies have agreed to the secondment of senior personnel to enhance understanding of activities in each other’s market. |
| Source: ANI News |
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