• Shanghai Cooperation Organisation members have adopted India’s proposal for Digital Public Infrastructure (DPI).
• This highlights India’s growing leadership in digital realm and its efforts to bridge digital divide and promote more digitally connected region.
• Platforms such as Aadhaar, United Payments Interface (UPI), and DigiLocker are included in the proposal.
  • DPI refers to a set of shared digital building blocks, such as applications, systems, and platforms, powered by interoperable open standards or specifications.

About India Stack

• India Stack is a set of Application Programming Interface (APIs) that allows governments, businesses, startups and developers to utilise an unique digital Infrastructure to solve India’s hard problems towards presence-less, paperless, and cashless service delivery.
• It consists of three different layers:
  • Unique identity (Aadhaar);
  • complimentary payments systems (UPI, Aadhaar Payments Bridge, Aadhaar Enabled Payment Service); and
  • data exchange (DigiLocker and Account Aggregator)

• A 1986-batch IPS officer Parveen Sood, who was appointed the new Director of the Central Bureau of Investigation (CBI) by the Government of India, hails from Garli Pragpur in Kangra district.

• Surender Chauhan, councillor of Ward no 28, was elected unopposed as mayor of Shimla.
• Uma Kaushal was elected unopposed as deputy mayor.

• Praveen Sood, the Director General of Police in Karnataka, has been appointed as the next director of the Central Bureau of Investigation (CBI).
• He will take on the position for two years after Subodh Kumar Jaiswal’s term ends on May 25.

• Sarabjot Singh and TS Divya emerged as champions in the mixed team 10m air pistol event at the ISSF World Cup in Baku, Azerbaijan.
• The ISSF World Cup is an international shooting sport competition organised by the International Shooting Sport Federation (ISSF).
• The ISSF is the governing body for the Olympic shooting events and is responsible for overseeing and promoting the shooting sport on a global scale.

• RBI has asked banks & RBI-regulated entities to take steps to ensure a complete transition away from the London Interbank Offered Rate (LIBOR) from July 01, 2023.
  • LIBOR stands for London Interbank Offered Rate.
  • An interest rate average submitted by leading UK banks, it is a benchmark rate against which global lenders currently mark their transactions.
• It acts as a benchmark for short-term interest rates.
• LIBOR is administered by the Intercontinental Exchange or ICE.
• It is published daily across five currencies including US dollar, Euro, British pound, Japanese yen and Swiss franc.

• Department of Financial Services (DFS), Ministry of Finance has conducted a review meeting of financial performance of RRBs.
• RRBs were formed under RRB Act, 1976 to provide credit and other facilities to small farmers, agricultural labourers and artisans in rural areas.
• These were established as per the recommendations of the Narasimham Committee to cater to the rural credit needs of the farming and other rural communities.
• The Prathama Grameen Bank, sponsored by The Syndicate Bank, was the first bank to be established on 2nd October 1975.
• RRBs are regulated by RBI and supervised by NABARD.
• RRBs’ capital is contributed by Government of India, State Government and Sponsor Bank in proportion of 50:35:15.

• Central Consumer Protection Authority (CCPA) has issued orders against the top five e-commerce platforms– Amazon, Flipkart, Snapdeal, Shopclues and Meesho for selling car seat belt alarm stopper
• Selling of such items is in violation of Consumer Protection Act (CPA), 2019 that provides for protection of interests of consumers.

ABOUT CENTRAL CONSUMER PROTECTION AUTHORITY (CCPA)

• It is a regulatory authority set up under Section 10(1) of the Consumer Protection Act, 2019.
• It functions under the guidelines of Ministry of Consumer Affairs, Food and Public Distribution.
• It regulates matters linked to the violation of consumer rights, unfair trade practices, and misleading advertisements.

• Ministry of Railways has launched One station one product Scheme (OSOP) scheme over Indian Railways to promote ‘Vocal for Local’ vision and create additional income opportunities for marginalised section.
• As of 1 May, the OSOP scheme covered 728 railway stations with 785 OSOP outlets in 21 states and three union territories.
• Under the scheme, OSOP stalls at railway stations offer a diverse range of products unique to their respective regions, including handicrafts, textiles, traditional garments, and local agricultural produce and processed foods.
• The stalls are designed uniformly through the National Design Institute to ensure consistency and promote the scheme’s visibility and reach.
• OSOP outlets offer products specific to the area and include artefacts made by indigenous tribes, handlooms by local weavers, handicrafts like world-famous wood carving, chikankari and zari-zardozi work on clothes, spices, tea, coffee, and other processed/semi-processed food items/products indigenously grown in the area.

• ISRO recently tested an intermediate configuration of its 2000 kN semi-cryogenic engine at newly commissioned Semi-cryogenic Integrated Engine & Stage Test facility at ISRO Propulsion Complex (IPRC) in Mahendragiri, Tamil Nadu.
• Unlike a cryogenic engine, a semi-cryogenic engine uses refined kerosene instead of liquid hydrogen.
  • The Liquid oxygen is used as an oxidiser.
• Refined Kerosene occupies less space, making it possible to carry more propellant in a Semi Cryogenic engines fuel compartment.
• Semi-cryogenic engine is more powerful, eco-friendly and cost effective as compared to a cryogenic engine.