Daily Current Affairs – June 29, 2023
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Daily Current Affairs - Banking - June 29, 2023
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National News
ICA to hold international cooperative conference in India in June 2024
- Belgium-based International Cooperative Alliance (ICA) has ”unanimously” decided to hold ICA Global Board, General Assembly, and an International Conference for the first time in the 128-year history of ICA at New Delhi in June 2024.
- ICA represents more than 310 cooperative organisations from 107 countries across the world as its members.
PM Modi reviews projects worth Rs 1.21 lakh crore
- Prime Minister Narendra Modi reviewed projects costing more than Rs 1.21 lakh crore in a meeting of the 42nd edition of Pro-Active Governance and Timely Implementation, or PRAGATI, – a digital platform aimed at bringing e-transparency.
- The PM Office said among the 12 projects reviewed, seven were from the Ministry of Health & Family Welfare, two from the Ministry of Railways, and one project each from Ministry of Road Transport and Highways, Ministry of Steel, and Ministry of Petroleum & Natural Gas.
- These projects have a cumulative cost of over Rs 1,21,300 crore and relate to 10 states, including Chhattisgarh, Bihar, Rajasthan, Madhya Pradesh, Gujarat, Maharashtra, Telangana, Tamil Nadu, Odisha and Haryana and 2 UTs Jammu and Kashmir, and Dadra and Nagar Haveli.
International News
India and Tanzania to boost defence cooperation
- The second edition of the Joint Defence Cooperation Committee (JDCC) meeting between India and Tanzania was held in Arusha.
- The Indian delegation was led by Joint Secretary Amitabh Prasad and included senior officials from the Ministry of Defence and the Armed Forces.
- During the meeting, the two sides discussed a wide range of opportunities for collaboration with a view to enhancing security in the Indian Ocean Region.
- Tanzania – Dodoma (Capital) – Tanzanian shilling (Currency) – Samia Suluhu Hassan (President) – Kassim Majaliwa (Prime Minister) – Swahili, English, Arabic (Language)
State News
Aurangzeb Lane renamed APJ Abdul Kalam Lane
- The Aurangzeb Lane in the Lutyens’ Delhi has been renamed Dr APJ Abdul Kalam Lane.
- The New Delhi Municipal Council approved the renaming of the road in a meeting of its members.
- The NDMC had in August 2015 changed the name of Aurangzeb Road to Dr APJ Abdul Kalam Road.
- The Aurangzeb Lane connects the Abdul Kalam Road with Prithvi Raj Road.
- New Delhi – Delhi (Capital) – Arvind Kejriwal (CM) – Vinai Kumar Saxena (Lieutenant Governor) – Hindi (Language)
P&G to invest Rs 2,000 crore to set up an export manufacturing hub in Gujarat
- Procter & Gamble Co (P&G), the world’s second-biggest consumer goods maker plans to invest Rs 2,000 crore in Gujarat to set up an export hub in India that will make healthcare products, especially digestives.
- The new unit builds on top of P&G India’s existing manufacturing footprint of eight plants across the country and expands the existing presence in Gujarat where it has had a plant in Sanand, Ahmedabad, since 2015.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
Jharkhand CM announced Rs 300-crore Skill Development College in Ranchi
- Jharkhand Chief Minister Hemant Soren announced that his government will set up a Skill Development College in Ranchi at a cost of Rs 300 crore.
- Jharkhand – Ranchi (Capital)– Hemant Soren (CM) – CP Radhakrishnan (Governor) – Hindi (Language)
CJI Chandrachud laid foundation stone of new J-K, Ladakh HC complex at Raika
- Chief Justice of India DY Chandrachud laid the foundation stone of the new complex of Jammu and Kashmir and Ladakh High Court in Raika area of Jammu.
- The newly inaugurated complex equipped with modern facilities is estimated to cost over 800 crore rupees and will be completed in the shortest possible time.
- Jammu & Kashmir – Srinagar (May–October) & Jammu (Nov-April) (Capital) – Manoj Sinha (Lieutenant Governor) – Urdu, Kashmiri, Dogri, Hindi, English (Language)
Schemes
Kerala government launched new scheme to provide jobs for transgenders
- The Kerala government has launched a new scheme to provide employment opportunities to the transgender community in diverse and innovative sectors.
- The Pride project is being implemented with the objective of ensuring the participation of the marginalised group in the knowledge employment sector.
- The state-run Knowledge Economy Mission and the Social Justice Department are jointly implementing the programme.
- The project is also part of the government’s initiative to provide employment to 20 lakh people by 2026.
- The Chief Minister said the LDF government is committed to ensuring all kinds of civil and human rights and providing support to the TG community.
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
Banking and Finance
Credit card NPAs for state-run banks zoom to 18 pc at FY23-end: RBI
- State-run banks’ gross non-performing assets (GNPAs) from the credit card segment have doubled to 18 per cent at the end of FY23, Reserve Bank of India.
- It was about 9 per cent in the year-ago period and the same stood at around 15 per cent in September 2022, the central bank said in its biannual Financial Stability Report (FSR).
- The data release comes amid news reports stating that the RBI has been cautioning banks about the risks on unsecured books, which includes credit cards, personal loans, and microfinance.
- The FSR released said at an overall level, there was a marginal uptick in the NPAs in the credit card receivables category for the banking system in FY23 at 2 per cent.
- Even as the state-run lenders showed heightened stress, private sector banks’ GNPAs from credit card receivables remained broadly flat at 1.9 per cent, while the same was 1.8 per cent for foreign banks.
- At an overall level, the banking system’s GNPAs fell to a 10-year-low of 3.9 per cent at the end of FY23, and are expected to improve further to 3.6 per cent by the end of FY24 under the baseline scenario.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Agreements and MoUs signed
India Startup Foundation signed MoUs with T-Hub, TiE
- The India Startup Foundation (ISF) has signed a memorandum of understanding (MoU) with TiE (The Indus Entrepreneurs – Hyderabad) and start-up ecosystem enabler, T-Hub, to promote a robust ecosystem to create, incubate, fund, and mentorship in the region.
- ISF is expected to attract 10,000 start-ups and over 500 venture capital funds.
- We have three major categories Idea Stage, Early Stage, and Growth Stage, where start-ups can compete.
- The second edition of the ISF is being organised with the theme ‘Innovation at the Bottom of the Pyramid’, focusing on rural healthcare, education, Amritesh, food technology, and fintech.
Science and Technology
Union Minister Rupala launched "Report Fish Disease" App
- Union Minister of Fisheries, Animal Husbandry and Dairying, Parshottam Rupala launched an android-based mobile app known as “Report Fish Disease” in the presence of Dr L. Murugan, Minister of State for Fisheries, Animal Husbandry and Dairying.
- As per the Ministry of Fisheries, Animal Husbandry & Dairying “Contributing to the vision of “Digital India”, the ‘Report Fish Disease’ has been developed by ICAR-National Bureau of Fish Genetic Resources (NBFGR), Lucknow and launched under the National Surveillance Programme for Aquatic Animal Diseases.
- The Department of Fisheries has allocated Rs 33.78 crores for a period of three years for the implementation of the second phase of the NSPAAD under the PMMSY scheme.
- With the launch of this App, NSPAAD was able to meet the national and international obligations through transparent reporting.
- 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)
Acquisitions and Mergers
HDFC further buys 0.7% stake in HDFC Life taking it to over 50% in insurer
- Promoter company Housing Development Finance Corp (HDFC) has further bought 0.77% stake in its subsidiary HDFC Life through bulk deals.
- HDFC has bought 1.65 crore shares at a weighted average price of Rs 674 apiece.
ICICI Securities to become 100% subsidiary of ICICI Bank after delisting
- ICICI Securities announced that it will become a wholly-owned subsidiary of ICICI Bank upon delisting.
- The company said that its board of directors has approved a draft scheme of arrangement for the delisting of the company’s equity shares.
- As a part of the acquisition, shareholders of ICICI Securities will get 67 equity shares of ICICI Bank for every 100 shares of the company.
- ICICI Bank will issue equity shares to public shareholders of ICICI Securities in lieu of cancellation of their equity shares in the company.
- ICICI Bank – 05/01/1994 (Founded) – Mumbai (HQ) – Sandeep Bakhshi (MD & CEO)– “Khayal Apka” (Tagline)
Appointments
T S Singh Deo to be deputy chief minister of Chhattisgarh
- Chhattisgarh minister T S Singh Deo will be the deputy chief minister of the state.
- Chhattisgarh – Raipur (Capital) – Bhupesh Baghel (CM) – Biswabhusan Harichandan (Governor) – Chhattisgarhi & Hindi (Language)
Shiv Das Meena is new TN Chief Secretary
- Senior bureaucrat Shiv Das Meena has been appointed as the new Chief Secretary of Tamil Nadu, succeeding V Irai Anbu.
- Meena was Additional Chief Secretary to government municipal administration and water supply department.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
Ranks and Indices
MoS Kapil Patil announced Panchayat Development Index to measure village development
- A ‘Panchayat Development Index’ has been formulated by the Centre to evaluate different indicators responsible for ensuring targeted development in villages, Minister of State for Panchayati Raj, Kapil Moreshwar Patil.
- The Index will be a compact statistical tool to measure and monitor development at panchayat level.
- On a pilot basis, data from four districts in Maharashtra Pune, Sangli, Satara and Solapur was compiled.
- Patil along with Panchayati Raj secretary Sunil Kumar and other government officials launched a report of the Panchayat Development Index Committee which will provide a way forward with Localisation of Sustainable Development Goals (LSDGs).
- Ministry of Panchayati Raj – Giriraj Singh,Cabinet Minister (Begusarai,Bihar) – Kapil Moreshwar Patil, Minister of State (Bhiwandi,Maharashtra)
Reports
Union Minister of Mines, Pralhad Joshi unveils India's first-ever report on Critical Minerals for India
- Union Minister of Mines, Pralhad Joshi, has unveiled India’s first-ever report on Critical Minerals for India.
- The report identifies 30 critical minerals essential for sectors including defence, agriculture, energy, pharmaceuticals, and telecom.
- This comprehensive list marks a milestone in India’s pursuit of self-reliance and security in mineral resources, aligning with the vision of achieving ‘Net Zero’ targets.
- The country’s inclusion as the newest partner in the Mineral Security Partnership during Prime Minister Narendra Modi’s recent visit to the United States.
- The list aims to guide policy formulation, strategic planning, and investment decisions in the mining sector.
Awards and Recognitions
World Bank President Ajay Banga named in US Great Immigrants list of 2023
- Ajay Banga, the President of the World Bank, has been recognised on the Carnegie Corporation of New York’s annual “Great Immigrants” list.
- He is lauded for his contributions and efforts in enriching America and its democracy.
- Banga, who became World Bank chief in June 2023, is the first-ever Indian American to lead the institution.
- He is the only honouree from India in this year’s list of ‘Great Immigrants’ by the Carnegie Corporation of New York.
Defence
IAF conducted Capstone Seminar at Air Force Auditorium
- The Indian Air Force conducted a Capstone Seminar at the Air Force Auditorium, New Delhi, marking the culmination of the No. 2 Warfare & Aerospace Strategy Program (WASP).
- The seminar was conducted under the aegis of the College of Air Warfare and Centre for Air Power Studies.
- WASP is a strategic education programme of 15 weeks duration which was started in 2022 and is structured to provide the participants with a deep understanding of strategy.
- The broader aim is to nurture critical thinkers who can blend cross-domain knowledge to generate policy-driving ideas at the strategic level.
- For the No 2 WASP, eight officers underwent intensive training in the fields of Strategy, Military History, Civil-Military relations, Higher Defence Organisation, Aerospace Power, Information Warfare, Technology and Hybrid Warfare.
- 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)
IAF to hold multilateral 'Exercise Tarang Shakti' with world's top air powers this year
- In a major step towards proving its ability to hold large-scale aerial operations, the Indian Air Force is going to hold a major multilateral exercise codenamed ‘Exercise Tarang Shakti’ in October-November this year in which 10-12 top air powers of the world would participate.
Daily Current Affairs - June 29, 2023 - Consolidated
- ICA to hold international cooperative conference in India in June 2024
- PM Modi reviews projects worth Rs 1.21 lakh crore
- India and Tanzania to boost defence cooperation
- Aurangzeb Lane renamed APJ Abdul Kalam Lane
- P&G to invest Rs 2,000 crore to set up an export manufacturing hub in Gujarat
- Jharkhand CM announced Rs 300-crore Skill Development College in Ranchi
- CJI Chandrachud laid foundation stone of new J-K, Ladakh HC complex at Raika
- Kerala government launched new scheme to provide jobs for transgenders
- Credit card NPAs for state-run banks zoom to 18 pc at FY23-end: RBI
- India Startup Foundation signed MoUs with T-Hub, TiE
- Union Minister Rupala launched “Report Fish Disease” App
- HDFC further buys 0.7% stake in HDFC Life taking it to over 50% in insurer
- ICICI Securities to become 100% subsidiary of ICICI Bank after delisting
- T S Singh Deo to be deputy chief minister of Chhattisgarh
- Shiv Das Meena is new TN Chief Secretary
- MoS Kapil Patil announced Panchayat Development Index to measure village development
- Union Minister of Mines, Pralhad Joshi unveils India’s first-ever report on Critical Minerals for India
- World Bank President Ajay Banga named in US Great Immigrants list of 2023
- IAF conducted Capstone Seminar at Air Force Auditorium
- IAF to hold multilateral ‘Exercise Tarang Shakti’ with world’s top air powers this year
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