Daily Current Affairs – June 24, 2023
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Daily Current Affairs - Banking - June 24, 2023
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National News
Union Steel Minister Scindia inaugurated Silica reduction project at SAIL-Bhilai Steel Plant's Dalli Mines
- Union Steel Minister Jyotiraditya Scindia virtually inaugurated the Silica Reduction Plant at Steel Authority of India Limited’s (SAIL) Bhilai Steel Plant’s Dalli Mines.
- Union Minister highlighted the Indian steel industry’s prowess and how India has emerged as an economic superpower at the global level.
- He said According to the National Steel Policy (NSP) 2017, under the guidance of the Prime Minister, we are moving forward to achieve the target of 300 MT crude steel production by 2030.
- The government is working fast on the infrastructure, due to which the consumption has increased from 77 MT to 120 MT and per capita steel consumption, which was 60 kg in 2014 has now reached 87 kg, recording an increase of 50 per cent.
- Ministry of Steel – Jyotiraditya Scindia,Union Minister (Rajya Sabha MP,MP) – Faggan Singh Kulaste,Minister of State (Mandla,MP)
Google to invest 10 billion dollars in India's digitisation fund; Amazon to infuse another 15 billion dollar
- Google is investing 10 billion dollars in India’s digitisation fund.
- Google’s global fintech operation centre will be opened in GIFT City, Gujarat.
- Amazon have already invested 11 billion dollars and with an intention to invest another 15 billion dollars bringing the total to 26 billion dollars.
International News
India-UAE signed pact for AEOs for faster customs clearances
- India and UAE signed Mutual Recognition Arrangement (MRA) for authorised economic operators (AEOs) of both countries.
- The AEO programme enables Customs administration to identify safe and compliant exporters and importers and to provide them with better facilitation. Under MRA, Customs authorities recognize AEOs of both countries, which in turn helps expedite customs clearances.
- Earlier in September 2021, India and the US had signed a MRA AEO.
- The Customs authorities of both countries have already evaluated each other’s AEO programme and are working to quickly implement the reciprocal arrangement for authorized economic operators.
- United Arab Emirates – Abu Dhabi (Capital) – UAE dirham (Currency) – Mohamed bin Zayed Al Nahyan (President) – Mohammed bin Rashid Al Maktoum (Prime Minister) – Ahmad Nawaf Al-Ahmad Al-Sabah (Prime Minister) – Arabic (Language)
Piyush Goyal highlights resolution of six WTO disputes between India-US
- Union Minister of Commerce and Industry, Consumer Affairs, Good and Public Distribution and Textiles, Shri Piyush Goyal has highlighted the resolution of six outstanding World Trade Organisation (WTO) disputes between US and India through mutually agreed solutions as jointly communicated by the Prime Minister of India, Shri Narendra Modi and President of the United States of America, H.E. Mr. Joseph Biden during the official state visit of the Prime Minister to the USA.
- The six trade disputes that will be terminated are as follows.
- Three of them have been filed by India namely Certain Measures Relating to Solar Cells and Solar Modules (DS456); Export Related Measures (DS541) and Additional Duties on Certain Products from the United States (DS585).
- While the other three disputes that have been filed by the US are Countervailing Measures on Certain Hot-Rolled Carbon Steel Flat Products from India (DS436); Certain Measures Relating to the Renewable Energy Sector (DS510); and Certain Measures on Steel and Aluminium Products (DS547).
- World Trade Organization (WTO) – 01/01/1995 (Founded) – Geneva, Switzerland (HQ) – Ngozi Okonjo-Iweala (Director General) – 164 members (160 UN member states, the European Union, Hong Kong, Macao, and Taiwan) – English, French, Spanish (Official Language)
State News
Amit Shah lays foundation of forensic science laboratory in Samba, inaugurates multiple projects in Jammu
- Union Home Minister Amit Shah laid the foundation stone of a central forensic science laboratory in Samba and inaugurated several development projects in Jammu.
- These include the forensic science laboratory in Samba having a budget of Rs 100 crore, 41 water supply schemes under the Jal Jeevan Mission in Ramban and Kishtwar with a combined cost of Rs 157.47 crore, a multi-storey parking facility at the Doda bus stand at a cost of Rs 32.46 crore, a bone and joint hospital in Bakshi Nagar (Rs 40.86 crore), a grid station (Rs 17.77 crore), and the upgradation of the road from Dogra Chowk to KC Chowk with an investment of Rs 25 crore.
- Shah also released a book highlighting the achievement of the government in Jammu and Kashmir.
- Jammu & Kashmir – Srinagar (May–October) & Jammu (Nov-April) (Capital) – Manoj Sinha (Lieutenant Governor) – Urdu, Kashmiri, Dogri, Hindi, English (Language)
Banking and Finance
ADB invested $295m in Bihar road projects
- The Asian Development Bank (ADB) has approved a $295 million loan to widen and upgrade around 265 kilometers of state highways, improving transport connectivity and safety in the state of Bihar in India.
- The highways will be upgraded with climate- and disaster-resilient design, road safety elements, and other features that will respond to the needs of the elderly, women, children, and people with disabilities.
- The government is contributing $156.6 million to the project.
- Since 2008, ADB has provided five loans totaling $1.63 billion to the state of Bihar, which have upgraded about 1,696 kilometers of state highways and constructed a new bridge over the Ganga River.
- ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
- Asian Development Bank (ADB) – 19/12/1966 (Founded) – Mandaluyong, Philippines (HQ) – Masatsugu Asakawa (President) – 68 countries
RBI penalised J&K Bank, Bank of Maharashtra, Axis Bank
- The RBI imposed a penalty of Rs 2.5 crore on Jammu and Kashmir Bank for non-compliance with certain directions, including one related to ‘time-bound implementation and strengthening of SWIFT-related operational controls’.
- A penalty of Rs 1.45 crore has also been imposed on Bank of Maharashtra for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’ and Advisory on ‘Man in the Middle (MiTM) Attacks in ATMs’.
- A penalty of Rs 30 lakh has been imposed on Axis Bank. The lender, it said had levied penal charges in certain accounts for late payment of credit card dues, though the customers had paid the dues by the due date, through third-party platforms.
Reserve Bank of India purchased $7.7 billion in April, highest in 2 years
- The Reserve Bank of India (RBI) purchased $7.7 billion on a net basis in April through intervention in the foreign exchange market – highest in 22 months.
- In June 2021, the RBI purchased 18.6 billion on a net basis in the spot market. Latest data shows the RBI purchased $8.4 billion in April, while selling $700 million.
- The rupee gained 0.4 per cent in April against the dollar.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
LIC launched new non-linked period plan
- National insurer Life Insurance Corporation launched a new close-ended plan Dhan Vridhhi.
- The new plan will be on sale from June 23 through September 30.
- Dhan Vriddhi is a non-linked, non-participating, individual, savings, single premium life plan, offering a combination of protection and savings.
- This plan provides financial support to the family in case of unfortunate death of the life assured during the policy term.
- It also provides a guaranteed lump sum amount on the date of maturity to the assured.
- The plan comes with two options to choose from wherein the sum assured on death can either be 1.25 times or 10 times in the second option.
- The plan is available for 10, 15 and 18 years and the minimum age at entry varies from 90 days to 8 years, depending on the term selected, and the maximum age at entry varies from 32 to 60 years, depending upon the term and option selected.
- The plan offers a minimum basic assured sum of Rs 1,25,000 and can be opted for more in multiples of Rs 5,000.
- The guaranteed additions shall accrue at the end of each policy year, throughout the policy term, and ranges from Rs 60 to Rs 75 in the first option and Rs 25 to Rs 40 in the second option for every Rs 1,000 of basic sum assured.
- The guaranteed additions are higher for a higher sum assured.
- Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)
Business and Economy
India to account for 12% of global m-cap by 2075; GDP to surpass US
- Goldman Sachs has predicted the Indian economy and market will be among the top globally by 2050 and even surpass the US by 2075.
- In a report titled, The Path to 2075-Capital Market Size and Opportunity, the US-based investment bank said the growth in Emerging Markets (EM) will continue to outpace that in the developed market, with 7 of the top 10 world economies becoming EMs by 2075.
Agreements and MoUs signed
ONDC, Kerala government signed agreement for better market access to PSU products
- After signing agreements with the Madhya Pradesh and the Tamil Nadu governments, the government-backed e-commerce marketplace the Open Network for Digital Commerce (ONDC) signed an agreement with the Kerala government to improve access and business opportunities in various sectors in the State.
- Nine public sector units (PSUs) have already onboarded around 200 products on ONDC.
- They announced that ONDC is going to be a priority initiative to extend market access to PSU and private industries, especially small and micro enterprises.
- Open Network for Digital Commerce (ONDC) – 31/12/2022 (Founded)
Summit and Conference
Summit for New Global Financing Pact kicked off in Paris, France
- The two-day Summit for a New Global Financing Pact kicked off in Paris, France with more than 300 participants from various sectors.
- In his opening speech, French President Emmanuel Macron called for more funding to meet the challenges of poverty, biodiversity, and climate.
- The participants are expected to discuss climate change-related financing issues through six round tables, including overhauling the international financial architecture, restoring confidence, forging partnerships for strategies, and creating a conducive environment for the private sector.
- France – Paris (Capital) – Euro (Currency) – Emmanuel Macron (President) – Élisabeth Borne (Prime Minister) – French (Language)
Science and Technology
Dr Jitendra Singh launched the GEMCOVAC® -OM, an Omicron-specific mRNA-based Booster vaccine
- Union Minister of State (Independent Charge) for Science and Technology, MoS PMO, Department of Atomic Energy and Department of Space and MoS Personnel, Public Grievances and Pensions, Dr Jitendra Singh launched the GEMCOVAC® -OM, an Omicron-specific mRNA-based Booster vaccine.
- India’s first mRNA vaccine has been developed using the indigenous platform technology by Gennova, with funding support from Department of Biotechnology (DBT) and Biotechnology Industry Research Assistance Council (BIRAC).
- A few days ago this vaccine got the nod from the office of the Drug Control General of India (DCGI) for Emergency Use Authorization (EUA).
- Dr. Jitendra Singh (Udhampur, Jammu & Kashmir) – Minister of State (Independent Charge) for the Ministry of Science and Technology and Minister of State for Prime Minister’s Office; Personnel, Public Grievances and Pensions; Department of Atomic Energy and Department of Space.
Awards and Recognitions
Sahitya Akademi announced winners of Bal Sahitya Puraskar, Yuva Puraskar
- The Sahitya Akademi has announced a list of 22 recipients of its Bal Sahitya Puraskar and 20 winners of its Yuva Puraskar for 2023.
- The list was declared at a meeting of the Executive Board of the Sahitya Akademi chaired by its president Sri Madhav Kaushik, the National Academy of Letters.
- Among the selected awardees of the Bal Sahitya Puraskar is renowned children’s author Sudha Murty, who will be awarded for her collection of stories titled ‘Grandparents’ Bag of Stories.
- In the Hindi language category of the same award, Suryanath Singh has been selected for his collection of short stories, ‘Kotuk App’.
- Anirudh Kanisetti will be given the Yuva Puraskar for ‘Lords Of The Deccan: Southern India From Chalukyas To Cholas’, while Atul Kumar Rai will receive the same award in the Hindi language category for his novel ‘Chandpur ki Chanda’.
- The Sahitya Akademi said it will announce the Yuva Puraskar recipients for Manipuri, Maithili and Sanskrit, and the Bal Sahitya Puraskar for Manipuri later.
- It did not announce any Yuva Puraskar winner for Odia and Bal Sahitya Puraskar for Kashmiri.
- The other winners of the Bal Sahitya Puraskar are Rothindranath Goswami (Assamese), Shyamalkanti Das (Bengali), Pratima Nandi Narzaree (Bodo), Balwan Singh Jamoria (Dogri), Rakshabahen Prahladrao Dave (Gujarati), Vijayashree Haladi (Kannada), Tukaram Rama Shet (Konkani), Akshay Anand ‘Sunny’ (Maithili), Priya AS (Malayalam), Eknath Avhad (Marathi).
- Madhusudan Bisht (Nepali), Jugal Kishore Sarangi (Odia), Gurmeet Karyalvi (Punjabi), Kiran Badal (Rajasthani), Radhavallabh Tripathi (Sanskrit), Mansing Majhi (Santali), Dholan Rahi (Sindhi), Udhayasankar (Tamil), DK Chaduvula Babu (Telugu), and Mateen Achalpuri are the remaining ten winners of the Bal Sahitya Puraskar.
- The 18 other recipients of the Yuva Puraskar are Jintu Gitartha (Assamese), Hamiruddin Middya (Bengali), Mainaosri Daimary (Bodo), Sagar Shah (Gujarati), Manjunayak Challur (Kannada), Nighat Nasreen (Kashmiri), Tanvi Kamat Bambolkar (Konkani), Ganesh Puthu (Malayalam), Vishakha Vishwanath (Marathi), Naina Adhikari (Nepali), Sandeep (Punjabi), Devilal Mahiya (Rajasthani), Bapi Tudu (Santali), Monika J Panjwani (Sindhi), Ram Thangam (Tamil), Johny Takkedasila (Telugu), Dheeraj Bismil (Dogri) and Tauseef Bareilvi who will receive it for Urdu.
- The winners of both awards will receive an engraved copper plaque and a cheque of Rs 50,000 each at a ceremony to be held later.
Sports News
5 Guinness World Records held by Cristiano Ronaldo
- As of the 5th of January 2020, Ronaldo’s Facebook has a staggering 146 million followers. He is the most popular football player on the social network platform.
- He holds the Guinness World Record for most consecutive Champions League matches scored in following that remarkable 11-game run between the 2016/17 and 2017/18 campaigns.
- At 34 years and 35 days old, he also surpassed Claudio Pizarro as the Champions League’s oldest hat-trick scorer.
- The Guinness World Record books revealed that over 48 trillion visitors viewed Ronaldo’s Wiki profile alone.
- The five-time Ballon d’Or winner took an incredible 72 penalties in La Liga alone for Los Blancos. He scored 61 of them to make him the most successful spot-kick taker ever seen in Spain.
- At 33 years and 130 days, he also became the oldest treble World Cup scorer in the Guinness World Record books.
Sonowal laid down foundation stone of Jalan Nagar Stadium by vertical extension at Dibrugarh
- The Union Minister of Ports, Shipping & Waterways and Ayush, Shri Sarbananda Sonowal laid down the foundation stone of Jalan Nagar Stadium by vertical extension at Boiragimoth in Dibrugarh in presence of Union Minister of State Rameshwar Teli, MLA of Dibrugarh, Prashanta Phukan among other officials of Dibrugarh administration as well as Brahmaputra Cracker and Polymer Limited (BCPL) and AOA.
- The development is being funded via the Corporate Social Responsibility (CSR) fund of BCPL.
- Ministry of Ports, Shipping and Waterways – Sarbananda Sonowal, Union Minister (Rajya Sabha MP, Assam) – Shripad Yesso Naik, Minister of State (North Goa) & Shantanu Thakur, Minister of State (Bangaon,West Bengal)
Union Minister Anurag Thakur flagged off "Bharat in Paris" campaign at JL Nehru Stadium in New Delhi
- Union Sports Minister Anurag Singh Thakur flagged off “Bharat in Paris” campaign with a short marathon at Jawaharlal Nehru Stadium in New Delhi.
- The campaign has been launched by Indian Olympic Association (IOA) to create awareness and promote sports across India ahead of the Paris Olympics games.
- The 2024 Olympics will take place from 26 July to 11 August in France, at Paris.
- Ministry of Youth Affairs and Sports – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Nisith Pramanik,Minister of State (Cooch Behar, West Bengal)
ACBS Asian U-21 Men's Snooker Championship 2023
- The ACBS Asian U-21 Men Snooker Championship took place in Tehran, Iran.
- The Indian men’s team, comprising Kamal Chawla, Brijesh Damani, and Sparsh Pherwani won gold in team event.
- Last year in December, Damani, a member of the Indian Men’s Team, secured the National Billiards Championship title aganist Dhruv Sitwala.
- On the other hand, Rayaan Razmi, a 21-year-old won bronze in individual events, hailing from Mumbai.
- Iran – Tehran (Capital) – Iranian rial (Currency) – Ali Khamenei (Supreme Leader) – Ebrahim Raisi (Prime Minister) – Võ Văn Thưởng (President) – Persian (Language)
Important Days
International Day of Women in Diplomacy 2023
- International Day of Women in Diplomacy (IDWID), observed on June 24, annually, celebrates inspiring women in fields of diplomacy and decision-making, around the world.
- While Armenian ambassador Diana Abgar is considered as the first female diplomat of the 20th century, female heads of state, like former Indian Prime Minister Indira Gandhi, UK Prime Minister Margaret Thatcher, former Minister of External Affairs of India Sushma Swaraj, are some of the names that have played a vital role in representing their nation before the world.
- IDWID was created just last year, at the 76th Session of the United Nations General Assembly (UNGA), which began on September 14, 2021 and concluded on September 13, 2022.
- The resolution was adopted by the UNGA on June 20, 2022.
- Theme – Breaking Barriers, Shaping the Future: Women in Diplomacy for Sustainable Development
- United Nations General Assembly – 1945 (Founded) – New York City (HQ) – Dennis Francis (President)
Defence
HAL to make the GE-F414 engine for fighter jets in collaboration with GE Aerospace
- Now Hindustan Aeronautics Limited (HAL), in collaboration with American company GE Aerospace, will manufacture GE-F414 engines for fighter jets in India itself, which will provide modern engines to India’s fighter jets.
- This historic defence deal to transfer jet engine manufacturing technology to India is likely to be announced during the meeting with US President Biden.
- American company GE Aerospace announced that it has signed a memorandum of understanding (MoU) with Hindustan Aeronautics Limited (HAL) for the Indian Air Force, which comes amid the official visit of Indian Prime Minister Modi to the United States of America between the two countries.
- It is a major milestone in strengthening defence cooperation between the two countries.
- This agreement builds on GE Aerospace’s previous commitment to build 99 engines for the Indian Air Force as part of the Light Combat Aircraft (LCA) Mark-II programme.
- Hindustan Aeronautics Limited (HAL) – 22/12/1940 (HQ) – Bangalore (HQ) – CB Ananthakrishnan (Chairperson & MD)
Daily Current Affairs - June 24, 2023 - Consolidated
- Union Steel Minister Scindia inaugurated Silica reduction project at SAIL-Bhilai Steel Plant’s Dalli Mines
- Google to invest 10 billion dollars in India’s digitisation fund; Amazon to infuse another 15 billion dollar
- India-UAE signed pact for AEOs for faster customs clearances
- Piyush Goyal highlights resolution of six WTO disputes between India-US
- Amit Shah lays foundation of forensic science laboratory in Samba, inaugurates multiple projects in Jammu
- ADB invested $295m in Bihar road projects
- RBI penalised J&K Bank, Bank of Maharashtra, Axis Bank
- Reserve Bank of India purchased $7.7 billion in April, highest in 2 years
- LIC launched new non-linked period plan
- India to account for 12% of global m-cap by 2075; GDP to surpass US
- ONDC, Kerala government signed agreement for better market access to PSU products
- Summit for New Global Financing Pact kicked off in Paris, France
- Dr Jitendra Singh launched the GEMCOVAC® -OM, an Omicron-specific mRNA-based Booster vaccine
- Sahitya Akademi announced winners of Bal Sahitya Puraskar, Yuva Puraskar
- 5 Guinness World Records held by Cristiano Ronaldo
- Sonowal laid down foundation stone of Jalan Nagar Stadium by vertical extension at Dibrugarh
- Union Minister Anurag Thakur flagged off “Bharat in Paris” campaign at JL Nehru Stadium in New Delhi
- ACBS Asian U-21 Men’s Snooker Championship 2023
- International Day of Women in Diplomacy 2023
- HAL to make the GE-F414 engine for fighter jets in collaboration with GE Aerospace
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