Daily Current Affairs – June 02, 2023
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Daily Current Affairs - Banking - June 02, 2023
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National News
Shri Dharmendra Pradhan released the UGC (Institutions Deemed to be Universities) Regulations, 2023
- Union Minister of Education and Skill Development, Shri Dharmendra Pradhan released the UGC (Institutions Deemed to be Universities) Regulations, 2023 in the presence of Prof. Jagadesh Kumar, Chairman, UGC and Shri Sanjay Murthy, Secretary (Higher Education), Ministry of Education.
- UGC (Institutions Deemed to be Universities) Regulations, 2023, will facilitate creation of many more quality-focused deemed to be universities in an objective and transparent manner.
- The new simplified guidelines will encourage universities to focus on quality & excellence, strengthen the research ecosystem and have a long-term impact in transforming our higher education landscape.
- The Minister complimented UGC for this timely reform aligned with the National Education Policy 2020.
- The UGC Act 1956 provides for Central Government to declare any institution other than a University to a status of Institution Deemed to be University as if it were a university within the meaning of Section 2(f).
- Upon declaration, such institution shall be deemed to be a university.
- The procedure for the declaration of status (General) & De Novo, the establishment of off-campus centre, minimum eligibility to acquire the status, its governance, etc. are regulated by UGC Regulations.
- The first set of Regulations was notified in the year 2010, which was revised in 2016 and 2019.
- Ministry of Education – Dharmendra Pradhan,Union Minister (Rajya Sabha MP,MP) – Subhas Sarkar, Minister of State (Bankura, West Bengal), Annpurna Devi Yadav, Minister of State (Kodarma, Jharkhand), Rajkumar Ranjan Singh, Minister of State (Inner Manipur,Manipur)
International News
NHPC signed initial pact with Nepalese utility to develop 480 MW Phukot Karnali hydro project
- Memorandum of Understanding (MoU) has been exchanged between NHPC Ltd and Vidhyut Utpadan Company Ltd (VUCL), Nepal, in august presence of Prime Minister Narendra Modi and Prime Minister of Nepal Pushpa Kamal Dahal ‘Prachanda’ at Hyderabad House, New Delhi, for development of Phukot Karnali Hydro Electric Project (480MW) in Nepal.
- The MoU was exchanged by RK Vishnoi, Chairman & Managing Director, NHPC, and VUCL Managing Director Surya Prasad Rijal.
- The signing of this MOU is a landmark step towards India-Nepal Joint Vision on Power Sector Cooperation.
- Nepal – Kathmandu (Capital) – Nepalese rupee (Currency) – Ram Chandra Poudel (President) – Pushpa Kamal Dahal (Prime Minister) – Nepali (Language)
State News
Telangana per capita income soars to Rs 3.17 lakh, highest in the country
- Telangana’s per capita income grew to Rs 3,17,115 from Rs 1,24,104, even as the Gross State Domestic Product went up to Rs 13 lakh crore from a little over Rs 5 lakh in the past nine years.
- State’s installed power generation capacity increased to 18,453 MW from 7,778 MW nine years ago.
- Telangana – Hyderabad (Capital) – K Chandrashekar Rao (CM) – Tamilisai Soundarajan (Governor) –Telugu (Language)
Shri Nitin Gadkari inaugurated two National Highway projects in Vadodara, Gujarat worth Rs.48 crore
- Union Minister for Road Transport and Highways Shri Nitin Gadkari inaugurated two National Highway projects in Vadodara, Gujarat at a cost of Rs.48 crores.
- Shri Gadkari said improvement work has been done near Dumad Chowkdi of Ahmedabad-Vadodara section of National Highway 48.
- He said this project of about 3 km length has been inaugurated at a cost of Rs 27.01 crore.
- Shri Gadkari said the length of the second project costing Rs 17 crore to be dedicated to the nation is about 1 km.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
Schemes
PM SVANidhi Scheme
- The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs on June 01, 2020 for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown.
- The duration of the scheme initially was until March 2022.
- It has been extended till December 2024, with focus on enhanced collateral free affordable loan corpus, increased adoption of digital transactions and holistic socio-economic development of the Street Vendors and their families.
- The Scheme has completed three years.
- Vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments in the tenure of one year.
- On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis.
- There will be no penalty on early repayment of loan.
- The scheme promotes digital transactions through cash back incentives up to an amount of Rs. 100 per month.
- The vendors can avail the facility of escalation of the credit limit on timely/ early repayment of loan.
- Ministry of Housing and Urban Affairs – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Kaushal Kishore, Minister of State (Mohanlalganj,UP)
Banking and Finance
UPI hits record 9 billion transactions worth Rs 14 lakh crore
- Unified Payment Interface (UPI) transactions in May scaled a new high of Rs 14.3 lakh crores in terms of value and 9.41 billion in volume.
- It is a 2 per cent rise in value (Rs 14.07 lakh crores) and 6 per cent in volume (8.89 billion) compared to April.
- UPI had recorded 8 billion transactions in January this year, followed by 7.5 billion in February, 8.7 billion in March, and 8.89 billion in April.
- In Financial Year 2022-23, the payment system processed a total of 83 billion transactions, amounting to a value of 139 lakh crore rupees.
- Transactions worth around Rs 3.96 trillion happened in the last ten days of May.
- Compared to May in Financial Year 2022-23, transaction volume increased by 58 per cent and value by 37 per cent.
Business and Economy
GST collection in May jumps 12% y-o-y to ₹1.57-lakh crore
- Strong demand and better compliance helped collection from Goods & Services Tax (GST) in May to reach ₹1,57,090 crores.
- Though it is 12 per cent higher than last May, sequentially it is 16 per cent lower than April 2023’s collection.
- Experts expect collection to rise in coming months.
- The monthly GST revenue stands at over ₹1.4-lakh crore for the 14th consecutive month.
Agreements and MoUs signed
Department of Ex-Servicemen Welfare signed MOU to generate Employment for Ex-Servicemen
- In an endeavor to bring the corporate companies and Ex-Servicemen on a common platform to generate more employment opportunities for them, a Memorandum of Understanding (MOU) was signed between Directorate General Resettlement under Department of Ex-Servicemen Welfare.
- It will help in achieving the objectives of dignified second career to ex-servicemen by supporting their transition into civilian life.
- In addition, it would bridge the gap between skilled manpower and career opportunities available locally.
Science and Technology
India becomes first in Asia to demonstrate use of GAGAN Satellite Technology
- India’s aviation sector is going all out with constant upgradation of technology. The country conducted Asia’s first ever demonstration of performance-based navigation for helicopters on May 31, 2023.
- The demonstration was done for a flight from Juhu to Pune using the GAGAN satellite technology.
- GAGAN is short for GPS Aided GEO Augmented Navigation.
- The Airports Authority of India mentions that GAGAN provides necessary augmentations to the GPS standard positioning services (SPS) navigation signal.
- The technology is designed to provide the additional accuracy that is needed to give users the option to rely on GPS for all phases of flight, that are en route through approach for all qualified airports within the GAGAN service volume.
- Ministry of Civil Aviation – Jyotiraditya Scindia,Union Minister (Rajya Sabha MP,MP) – General Vijay Kumar Singh,Minister of State
Microsoft joined with Indian government to train 6K students, 200 educators in cybersecurity skills
- Microsoft signed a memorandum of understanding (MoU) with Directorate General of Training (DGT) under the Ministry of Skills Development and Entrepreneurship (MSDE) to train 6,000 students and 200 educators in digital and cyber-security skills in the country.
- As part of this collaboration with, Microsoft will offer a wide range of courses, including training in AI, cloud computing, web development and cybersecurity skills for students and 200 faculty members at government-led Industrial Training Institutes (ITIs) and National Skills Training Institutions (NSTIs).
- In addition, trained faculty members can then train ITI students attending computer operator and programming assistant (COPA) training.
- Microsoft Corporation – 04/04/1975 (Founded) – Washington DC (HQ) – Satya Nadella (Chairman and CEO)
Power
Rooftop solar capacity grows 6.35% to 485 MW in Jan-Mar
- The rooftop solar capacity in India increased by 6.35 per cent to 485 megawatt (MW) in the January-March quarter of this year, according to Mercom India.
- In the January-March period of calendar year 2022, the rooftop solar installation capacity in the country was at 456 MW.
- India’s cumulative rooftop solar capacity was approximately 9.3 gigawatts (GW) at the end of Q1 2023.
- On a quarter-on-quarter basis, at 485 MW, rooftop solar capacity addition was marginally up by 0.4 per cent compared to 483 MW in Q4 2022.
Appointments
K Krithivasan appointed as MD & CEO of TCS
- The Tata Consultancy Services Board of Directors of the Company have appointed Mr. K. Krithivasan as the Chief Executive Officer and Managing Director of the Company to take over from Mr. Rajesh Gopinathan with effect from June 1, 2023.
- Tata Consultancy Services (TCS) – 1968 (founded) – Mumbai (HQ) – Natarajan Chandrasekaran (Chairman)
President of Latvia
- Lawmakers in Latvia have chosen Foreign Minister Edgars Rinkevics as the country’s new president, making him the first openly gay head of state in the European Union.
- Latvia – Riga (Capital) – Latvian (language) – Edgars Rinkevics (President) – Krišjānis Kariņš (Prime Minister) – Euro (Currency)
G Viswam appointed as Director of LRDE, a DRDO lab
- Distinguished scientist G Viswam has been appointed as Director of Bengaluru-based Electronics & Radar Development Establishment (LRDE), a unit of Defence Research and Development Organisation (DRDO).
- He assumed charge from Dr P Radhakrishna, Distinguished Scientist, who superannuated on May 31.
- Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)
Reports
11th Edition of the World of Work Report
- 11th edition of the World of Work report was released by International Labour Organisation (ILO).
- Global unemployment is expected to fall below pre-pandemic levels to 5.3% or 191 million in 2023 and low-income countries may remain far behind in the recovery process.
- Mutually reinforcing crises, including rising debt levels, are disproportionately affecting developing countries, worsening the global employment divide between high-income and low-income countries and widening existing inequalities exacerbated by the COVID-19 pandemic.
- ILO projects that low-income countries in Africa and the Arab region are unlikely to recover to pre-pandemic levels of unemployment this year.
- For North Africa, the unemployment rate in 2023 is projected to be 11.2% compared to 10.9% in 2019, 6.3% for Sub-Saharan Africa as against 5.7% in 2019 and 9.3% for the Arab states as against 8.7% in 2019.
- According to ILO, regions that have managed to reduce their rates substantially below pre-crisis levels includes Latin America and the Caribbean with the unemployment rate of 6.7% compared to 8% in 2019, northern, southern and western Europe with unemployment rate of 6.3% vis-a-vis 7% in 2019 and central and Western Asia with unemployment rate of 7.8% as against 9.2% in 2019.
- International Labour Organization – 11/04/1919 (founded) – Geneva, Switzerland (HQ) – Gilbert Houngbo (Director General)
Obituary
Sanskrit scholar Ved Kumari Ghai Passed away
- Veteran Sanskrit Scholar and Padma Shri awardee, Ved Kumari Ghai passed away.
- She was head of Sanskrit Department in Jammu University until her retirement on December 31, 1991.
- She was also involved in social work and Government of India awarded her Padma Shri in 2014.
- She was also awarded Gold Medal by Jammu and Kashmir Government for social work, President’s Award for Sanskrit and Dogra Ratan award etc.
Sports News
2023 Men's Hockey Junior Asia Cup
- India defeated Pakistan in the Men’s Junior Asia Cup 2023 2-1 at the Sultan Qaboos Youth Complex Stadium in Salalah, Oman to lift their fourth title.
- With this title win, India become the most successful country in the history of the Men’s Junior Asia Cup.
- India Previously won the title in 2004, 2008 & 2015.
Daily Current Affairs - June 02, 2023 - Consolidated
- Shri Dharmendra Pradhan released the UGC (Institutions Deemed to be Universities) Regulations, 2023
- NHPC signed initial pact with Nepalese utility to develop 480 MW Phukot Karnali hydro project
- Telangana per capita income soars to Rs 3.17 lakh, highest in the country
- Shri Nitin Gadkari inaugurated two National Highway projects in Vadodara, Gujarat worth Rs.48 crore
- PM SVANidhi Scheme
- UPI hits record 9 billion transactions worth Rs 14 lakh crore
- GST collection in May jumps 12% y-o-y to ₹1.57-lakh crore
- Department of Ex-Servicemen Welfare signed MOU to generate Employment for Ex-Servicemen
- India becomes first in Asia to demonstrate use of GAGAN Satellite Technology
- Microsoft joined with Indian government to train 6K students, 200 educators in cybersecurity skills
- Rooftop solar capacity grows 6.35% to 485 MW in Jan-Mar
- K Krithivasan appointed as MD & CEO of TCS
- President of Latvia
- G Viswam appointed as Director of LRDE, a DRDO lab
- 11th Edition of the World of Work Report
- Sanskrit scholar Ved Kumari Ghai Passed away
- 2023 Men’s Hockey Junior Asia Cup
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