Daily Current Affairs – June 27, 2023
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Daily Current Affairs - Banking - June 27, 2023
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National News
Centre approved Rs 56,415 crore to 16 states for capital investment
- The Department of Expenditure under the Finance Ministry has approved capital investment proposals of Rs 56,415 crore for 16 states in the current financial year 2023-24.
- The amount has been approved for 16 states including Arunachal Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Mizoram, Odisha, Rajasthan, Sikkim, Tamil Nadu, Telangana, and West Bengal.
- The approval has been given under the scheme titled ‘Special Assistance to States for Capital Investment 2023-24’.
- The scheme, which was announced in the Budget for 2023-24 in continuation of a similar push for capex from the last three years, special assistance is being provided to the state governments in the form of 50-year interest free loan up to an overall sum of Rs 1.3 lakh crore during the financial year 2023-24.
- Arunachal Pradesh – 1255 crores
- Bihar – 9640 crores
- Chhattisgarh – 3195 crores
- Goa – 386 crores
- Gujarat – 3478 crores
- Haryana – 1093 crores
- Himachal Pradesh – 826 crores
- Karnataka – 3647 crores
- Madhya Pradesh – 7850 crores
- Mizoram – 399 crores
- Odisha – 4528 crores
- Rajasthan – 6026 crores
- Sikkim – 388 crores
- Tamil Nadu – 4079 crores
- Telangana – 2102 crores
- West Bengal – 7523 crores
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
India’s milk production increases by 83 Million Metric Tons in last nine years
- Fisheries, Animal Husbandry, and Dairying Minister Parshottam Rupala informed that there is an increase of 83 Million Metric Tons in Milk production in the last nine years compared to the 121 Million Metric Tons increase in the last 60 years.
- Per Capita availability of Milk was 303 Grams in 2014 which has increased to 444 Grams in 2022.
- Ministry of Fisheries, Animal Husbandry and Dairying – Parshottam Rupala,Union Minister (Rajya Sabha MP,Gujarat) – Sanjeev Balyan, Minister of State (Muzaffarnagar,UP), L. Murugan, Minister of State (Rajya Sabha MP,MP)
India's road network grows 59% in 9 years to become second largest in world
- India’s road network grew 59 per cent to become the second largest in the world as part of the development work carried out by the government in the last nine years, Union Minister Nitin Gadkari.
- India’s road network stood at 1,45,240 km today compared to 91,287 km in 2013-14, the Road, Transport and Highways Minister.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
India’s MSME sector contributed 30% to GDP and nearly 50 % to exports
- Micro, Small, and Medium Enterprises Minister Narayan Rane speaking at Udyami Bharat-MSME Day in New Delhi.
- The country’s MSME sector contributes 30 percent to the GDP and nearly 50 percent to exports.
- The Minister also launched various initiatives for the growth and development of MSMEs on the occasion.
- These include the CHAMPIONS 2.0 Portal, MSME Idea Hackathon 3.0 for Women Entrepreneurs, and a Mobile App for Geo-tagging of Cluster Projects and Technology Centers.
- Various MoUs were signed between the Ministry of MSME, GeM, Tripura Government, and SIDBI.
- CHAMPION portal is a platform for speedy, convenient, and effective redressal of MSMEs’ grievances.
- It also provides guidance and advisory services in the areas of Finance, Marketing, Technology, Raw Material, Labour, Infrastructure, and Capacity Building.
- Ministry of Micro, Small and Medium Enterprises – Narayan Rane,Union Minister (Rajya Sabha MP,Maharashtra) – Bhanu Pratap Singh Verma,Minister of State (Jalaun,UP)
8th edition of World’s Largest Urban Cleanliness Survey
- The stage is all set for the 8th edition of world’s largest urban swachhata survey, Swachh Survekshan 2023 – Mera Shehar, Meri Pehchan.
- Ministry of Housing and Urban Affairs (MoHUA) launched the Field Assessment for Swachh Survekshan (SS) 2023.
- Under SS 2023, around 3,000 assessors will take the field for assessment from 1 July, 2023.
- The assessors will study performances of 4500+ cities across 46 indicators and it is expected to be completed within a month.
- Swachh Survekshan 2023 champions Waste to Wealth and is curated towards processing and scientific management of waste.
- Originally designed as a competitive monitoring tool, Swachh Survekshan was introduced under the aegis of MoHUA in 2016, with an objective to sanitation, helping cities to achieve the goal of sustainable sanitation and waste management in a fast-track competitive manner.
- Ministry of Housing and Urban Affairs – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Kaushal Kishore, Minister of State (Mohanlalganj,UP)
10x growth in procurement from Government e-Marketplace in last 3 years
- Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal highlighted the ”10x” growth in procurement from Government e-Marketplace (GeM) in the last three years.
- The Minister praised all the stakeholders of GeM for being a catalyst of change during his address at the ‘Kreta-Vikreta Gaurav Samman Samaroh 2023’ organized by GeM in New Delhi.
- Ministry of Commerce and Industry – Piyush Goyal,Cabinet Minister (Rajya Sabha MP,Maharashtra) – Anupriya Patel, Minister of State (Mirzapur,UP), Som Parkash, Minister of State (Hoshiarpur,Punjab)
Vande Bharat Express
- Prime Minister Narendra Modi visited Bhopal in Madhya Pradesh and flagged off five Vande Bharat trains connecting important cities in different parts of the country.
- These trains will improve connectivity in Madhya Pradesh, Karnataka, Maharashtra, Goa, Bihar and Jharkhand.
- This is for the first time so many Vande Bharat trains have been launched in one day.
- These semi high-speed trains are: Rani Kamalapati (Bhopal)-Jabalpur Vande Bharat Express, Khajuraho-Bhopal-Indore Vande Bharat Express, Madgaon (Goa)-Mumbai Vande Bharat Express, Dharwad-Bengaluru Vande Bharat Express, and Hatia-Patna Vande Bharat Express.
International News
India inaugurates New Delhi Hall at SCO Secretariat in Beijing
- India inaugurated an exquisitely designed ‘New Delhi Hall’ at Beijing.
- The Secretariat of the Shanghai Cooperation Organisation (SCO) comprising China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, India and Pakistan is located in the high-end diplomatic area in Beijing.
- While the six founding members China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan have their halls highlighting their cultures and unique features, India is the first to add its own ‘New Delhi Hall’ which is officially opened ahead of the July 4 SCO summit to be held in virtual format.
Banking and Finance
World Bank approved $391 million for Assam, Tripura to boost healthcare, economic opportunities
- The World Bank approved $391 million in financing to improve access to high-quality healthcare services and to economic opportunities for people in Assam and Tripura.
- The Assam State Secondary Healthcare Initiative for Service Delivery Transformation (ASSIST) Project, for which $251 million was approved, will improve access to high-quality secondary healthcare services in Assam and directly serve at least 1.8 million people.
- For Tripura Rural Economic Growth and Service Delivery Project, $140 million has been approved, intending to promote socioeconomic development and improve the quality of life of 1,42,000 households in select tribal blocks, territories where tribal communities live and work.
- The World Bank’s Board of Executive Directors also approved a $300 million loan to help expand and improve the quality of education in government-run schools in the central Indian state of Chhattisgarh.
- The project aims to benefit about 4 million students, mostly from poor and vulnerable communities in the state.
- World Bank – December 1944 (Founded) – Washington DC (HQ) – Ajay Banga (President)
RBI imposed monetary penalty on Standard Chartered Bank-India & all four credit info firms
- RBI has slapped a penalty of Rs 30 lakh has been imposed on Standard Chartered Bank-India for non-compliance with certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’.
- Also, a penalty of Rs 26 lakh has been imposed on TransUnion CIBIL Limited, Mumbai for non-compliance with certain provisions of the Credit Information Companies (Regulation) Act, 2005 [CIC (R) Act], according to releases.
- A penalty of Rs 24.25 lakh on Equifax Credit Information Services, Mumbai for non-compliance with certain provisions of the CIC Rules.
- Among other entities, a fine of Rs 24.75 lakh has been imposed on Experian Credit Information Company of India, Mumbai for non-compliance with certain provisions of the CIC (R) Act.
- Further, a penalty of Rs 25.75 lakh has been slapped on CRIF High Mark Credit Information Services, Mumbai for contravention with certain provisions of CIC (R) Act.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
IRDAI will commence pilot of RBS framework from July
- As part of the efforts to foster ease of doing business in insurance and encourage proactive risk identification and management, the insurance regulator will roll out the first phase of pilot for Risk-Based Supervision’ (RBS) framework in July.
- With a view to promoting a ‘Principle-based Regulatory regime’, the Insurance Regulatory and Development Authority of India (IRDAI) has been working towards developing and implementing RBS framework for the insurance sector.
- For this purpose, IRDAI has collaborated with Toronto Centre (TC), which is a not-for-profit organisation, working with the mission of promoting strong supervision to enhance financial stability, crisis preparedness and consumer protection.
- Insurance Regulatory and Development Authority of India (IRDAI) – 1999 (Founded) – Hyderabad (HQ) – Debasish Panda (Chairman) – Ministry of Finance (Under)
Agreements and MoUs signed
Directorate General of Resettlement signed MoU with private sector to generate employment for Ex-servicemen
- Directorate General Resettlement (DGR) under Department of Ex-Servicemen Welfare, Ministry of Defence signed a Memorandum of Understanding (MoU) with IBM to engage ex-servicemen and to facilitate their seamless integration into the civilian workforce.
- Through this MoU, DGR will collaborate with IBM to tap into the rich talent pool of ex-servicemen for relevant job opportunities that may continue to arise at the company and its affiliates.
- As part of this association, IBM aims to bridge the gap between military service and civilian employment, by providing veterans with exciting opportunities for professional growth and personal development.
- DGR and IBM will collaborate, on a continuous basis, to identify ex-servicemen with skillset and aptitude suitable for various open positions within the company.
- After assessment & shortlisting of candidates, IBM will leverage its resources and expertise to facilitate the recruitment, training, and upskilling of ex-servicemen for those roles.
- Ministry of Defence – Rajnath Singh,Union Minister (Lucknow,UP) – Ajay Bhatt,Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)
Agriculture Ministry signed MoU with Pixxel Space to develop geospatial solutions
- The Union Agriculture Ministry has signed an MOU with Pixxel Space India Pvt Ltd to develop various geospatial solutions, mainly for monitoring the health of crops and soil.
- The MoU (Memorandum of Understanding) was signed in the presence of Agriculture Secretary Manoj Ahuja.
- C S Murthy, Director of MNCFC, signed the MOU on behalf of the Government of India, with Abhishek Krishnan, Chief of Staff representing Pixxel Space.
- MNCFC (Mahalanobis National Crop Forecast Centre) on behalf of the ministry will associate with the Pixxel team for developing and implementing suitable methodologies.
- It aims to develop various geospatial solutions on pro bono basis for the Indian Agriculture Ecosystem using Pixxel’s hyperspectral dataset.
- The project focuses on leveraging sample hyperspectral data from Pixxel’s path finder satellites to develop analytics models focused on crop mapping, crop stage discrimination, crop health monitoring, and soil organic carbon assessments.
- This will enable the government to develop use cases with hyperspectral data provided by Pixxel.
- Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
Appointments
UN chief appointed Indian-origin satellite expert as Director of United Nations Office for Outer Space Affairs
- Indian-origin satellite industry expert Aarti Holla-Maini was appointed as the Director of the United Nations Office for Outer Space Affairs (UNOOSA) in Vienna by the United Nations Secretary-General Antonio Guterres.
- Aarti Holla-Maini will succeed Simonetta Di Pippo of Italy.
- The primary objective of UNOOSA is to foster global collaboration in the peaceful utilization and exploration of outer space, as well as the effective application of space science and technology to achieve sustainable economic and social progress.
Italian Gaudenzi reappointed ATP chairman
- Association of Tennis Professionals (ATP) Chairman Andrea Gaudenzi has been re-elected for a second term as the head of the organisation from 2024 to 2026.
- Andrea Gaudenzi is an Italian former tennis player and serving as chairman of the Association of Tennis Professionals since January 2020.
New RBI Deputy Governor Janakiraman gets 6 departments
- Newly-appointed Reserve Bank Deputy Governor Swaminathan Janakiraman will look after six departments, including supervision and financial inclusion.
- The other portfolios allocated to Janakiraman are Inspection Department, Premises Department, Rajbhasha Department, and Consumer Education and Protection Department.
- Deputy Governor M D Patra will supervise 11 departments in the central bank, including the departments of monetary policy and financial stability.
- Deputy Govenor M Rajeshwar Rao has been assigned with five departments while T Rabi Sankar has assigned with the work of 11 departments.
- According to the RBI Act, 1934, Reserve Bank of India should have four deputy governors — two from within the ranks, one commercial banker and an economist to head the monetary policy department.
Awards and Recognitions
Twelve start-ups from 9 Indian states emerge winners at Youth Co:Lab National Innovation Dialogue 2022
- The winning 12 start-ups receive seed funding of up to $5,000 to scale up their innovations.
- Twelve top start-ups from across 9 Indian states working in agriculture, ed-tech, women’s livelihood, circular economy, and biodiversity were announced as winners at the 5th Edition of Youth Co:Lab National Innovation Dialogue India.
- Youth Co:Lab, co-created in 2017 by United Nations Development Programme (UNDP) and Citi Foundation, aims to establish a common agenda for countries in the Asia-Pacific region to empower and invest in youth, so that they can accelerate the implementation of Sustainable Development Goals (SDGs) through leadership, social innovation, and entrepreneurship.
- Youth Co:Lab was launched in India in 2019 in partnership with Atal Innovation Mission (AIM), NITI Aayog.
- The 2022-23 edition received 378 applications from 28 states across the country.
Important Days
World Refrigeration Day
- World Refrigeration Day is an international day established by the World Refrigeration Day Secretariat in Derbyshire, England on June 26.
- The inaugural World Refrigeration Day was held on 26 June 2019.
- Theme – Next Generation Cooling; highlighting innovative technologies that improve energy efficiency and promote sustainable practices going into the future
World MSME Day 2023
- World MSME Day is annually observed on June 27.
- First World MSME Day was observed on 2017.
- Theme – Future-ready MSMEs for India@100
International Pineapple Day
- International Pineapple Day is annually observed on June 27.
- On International Pineapple Day we have a report on pineapple production in the northeastern state of Tripura.
- One of the finest varieties of pineapple called Queen Pineapple is particularly grown in Tripura.
- Apart from Queen, another famous variety of pineapple that is grown in the state is Queue.
- Tripura has been cultivating Queen Pineapple which has a great demand in markets.
Defence
IAF conducted Exercise 'Ranvijay'
- The Indian Air Force carried out Exercise ‘Ranvijay’ with a focus on integration.
- It was conducted from different air bases of the command headquarters of IAF in Prayagraj.
- The Sukhoi Su-30MKI aircraft is a heavy, all-weather long-range fighter.
- It is the most advanced fighter of the IAF after the French-made Rafale jets.
- The first fighter joined the fleet of the IAF in 2002, while the first aircraft assembled in India entered service with IAF in 2004.
- Indian Air Force (IAF) – 26/01/1950 (Founded) – New Delhi (HQ) – Airforce Day (October 08) – Air Chief Marshal Vivek Ram Chaudhari (Chief of Air Staff) – ‘Touch the sky with Glory’ (Motto)
Daily Current Affairs - June 27, 2023 - Consolidated
- Centre approved Rs 56,415 crore to 16 states for capital investment
- India’s milk production increases by 83 Million Metric Tons in last nine years
- India’s road network grows 59% in 9 years to become second largest in world
- India’s MSME sector contributed 30% to GDP and nearly 50 % to exports
- 8th edition of World’s Largest Urban Cleanliness Survey
- 10x growth in procurement from Government e-Marketplace in last 3 years
- Vande Bharat Express
- India inaugurates New Delhi Hall at SCO Secretariat in Beijing
- World Bank approved $391 million for Assam, Tripura to boost healthcare, economic opportunities
- RBI imposed monetary penalty on Standard Chartered Bank-India & all four credit info firms
- IRDAI will commence pilot of RBS framework from July
- Directorate General of Resettlement signed MoU with private sector to generate employment for Ex-servicemen
- Agriculture Ministry signed MoU with Pixxel Space to develop geospatial solutions
- UN chief appointed Indian-origin satellite expert as Director of United Nations Office for Outer Space Affairs
- Italian Gaudenzi reappointed ATP chairman
- New RBI Deputy Governor Janakiraman gets 6 departments
- Twelve start-ups from 9 Indian states emerge winners at Youth Co:Lab National Innovation Dialogue 2022
- World Refrigeration Day
- World MSME Day 2023
- International Pineapple Day
- IAF conducted Exercise ‘Ranvijay’
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