Current Affairs June 10th 2023| Current Affairs News

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CURRENT AFFAIRS : BANKING & FINANCE

RBI’s Monetary Policy Committee keeps the repo rate unchanged at 6.5%

• The Reserve Bank of India’s (RBI) Monetary Policy Committee headed by RBI Governor Shaktikanta Das in its second bi-monthly monetary policy meeting of FY24 has kept the repo rate unchanged at 6.5%.

Aim:

• To focus remains on the withdrawal of accommodation
• Earlier In the MPC meeting held in February, 2023 the repo rate was increased by 0.25% to 6.50%.
• The RBI also retained FY24 GDP growth forecast at 6.5%, while expecting FY24 CPI inflation to be at 5.1% (from 5.2%).
• The next meeting of the MPC is scheduled for August 8-10, 2023.

RBI’s Policy rates:

Category	Rate
Standing Deposit Facility (SDR) Rate	6.25%
Marginal Standing Facility (MSF) Rate	6.75%
Bank Rate	6.75%

Key Highlights :

• The net Foreign portfolio investment (FPI) inflows stand at USD 8.4 billion during the current financial year up to June 6,2023 as against net outflows in the preceding two years where USD 14.1 billion in 2021-22 and 5.9 billion in 2022-23.
• The rupee remained stable in January 2023 and India’s foreign exchange reserves stood at $595.1 billion as on June 2, 2023.
• Real GDP growth projections for the financial year 2023-24 is projected at 6.5% with Q1 projections being 8%, Q2 projections being 6.5%, Q3 projections being 6% and Q4 projections being 5.7%.
• RBI cuts CPI inflation forecast for FY24 to 5.1% from 5.2% earlier.
• CPI inflation forecast for Q1FY24 cut to 4.6% from 5.1%, while for Q2FY24 it is reduced to 5.2% from 5.4%.

What is MPC?

• The Monetary Policy Committee (MPC) is responsible for fixing the benchmark interest rate in India.
• The meetings of the MPC are held at least 4 times a year (specifically, at least once a quarter)
• Members of MPC – Shaktikanta Das, Michael Debrata Patra, Rajiv Ranjan^, Ashima Goyal ,Shashanka Bhide. Jayanth Varma.
• The first such MPC was constituted on September 29, 2016.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar

Federal Bank launches ‘I am Adyar, Adyar is me’ campaign in Tamil Nadu  

• The Federal Bank has launched a campaign titled ‘I am Adyar, Adyar is me’ in Chennai, Tamil Nadu (TN) to celebrate people and their culture by transforming an entire bank branch into a museum of local stories.
• The campaign is a first-of-its-kind micro-marketing initiative in the banking industry, which is aimed to showcase the soul of Adyar, including its people’s struggles and triumphs which make it special.

About the Campaign :

• The campaign has handpicked 40 compelling stories of individuals, which are showcased in an exclusive exhibition at the Adyar branch of Federal Bank.
• The walls of the Adyar Branch have been adorned with vibrant paintings which reflect the lively spirit of the locality.
• The bank’s team ventured into the neighbourhoods of Adyar, listening to the people and collected around 100 stories and photographs of the individuals interviewed.
• Over 100 auto-rickshaws have been decorated with the campaign’s branding.

About Federal Bank :

• Established : 2 December 1949
• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO : Shyam Srinivasan
• Tagline : Your Perfect Banking Partner

Bond issuances by banks to fall below Rs 90,000 cr in FY24 – ICRA

• According to the ratings agency ICRA report, Bond issuances by banks are likely to fall to Rs 90,000 crore in the current financial year from an all-time high of Rs 1.1 lakh crore in FY23 due to improved liquidity conditions and foreign investors inflows.

Key Highlights :

• Stronger foreign institutional investor (FII)/foreign portfolio investment (FPI) inflows, as seen recently, the derecognition of the Rs 2,000 note and an anticipated dividend by the Reserve Bank of India (RBI) could ease liquidity conditions in the interim.
• On the Tier-I or Additional Tier I (ATI) bond front, the report stated that issuances were expected to trail the FY2022-FY2023 levels (Rs 30,000-33,400 crore), partly due to lower scheduled call options and would largely be dominated by public sector undertaking (PSU) banks.
• Accordingly, outstanding Tier-I bonds are expected to increase slightly to Rs 1.3 lakh crore by March 2024 from Rs 1.2 lakh crore as of March 2023.
• While Tier-II issuances are expected to moderate from the peak in FY23 (Rs 49,600 crore), some banks may still choose to raise infrastructure bonds, though this will largely be limited to a few banks.
• According to the RBI’s money market operation data, the liquidity, which was around Rs 56,000 crore surplus, has increased to Rs 2.11 lakh crore.
• Banks issue bonds for their funding needs and to shore up their capital base.

CURRENT AFFAIRS: NATIONAL NEWS

Dr Mansukh Mandaviya inaugurates CGHS Wellness Centres in Chandigarh and Panchkula

• Dr Mansukh Mandaviya, Union Minister for Health and Family Welfare as he inaugurated the CGHS Wellness Centres in Chandigarh and Panchkula in the presence of Smt Kirron Kher, Member of Parliament, Chandigarh, and Shri Gian Chand Gupta, Member of Legislative Assembly from Panchkula, and Speaker in the Haryana Legislative Assembly.
• This makes Panchkula the 80th city with CGHS facilities fulfilling a long cherished demand of the employees and pensioners in the city.
• Chandigarh already had a CGHS Wellness centre with 47000 registered beneficiaries.
• The opening of the 2nd Wellness Centre gives a big relief to the beneficiaries as the workload will be divided between the two wellness centres and the waiting time will reduce ensuring ease of living for the citizens.
• The opening of these two wellness centres will go a long way in mitigating the hardships faced by pensioners residing not only in the Chandigarh-Panchkula-Mohali tricity area, but also in nearby areas of Punjab, Haryana, and Himachal Pradesh.
• With this launch, the coverage of CGHS cities has expanded from 25 cities in 2014 to 80 in 2023

Shri Sarbananda Sonowal launches ‘SAGAR SAMRIDDHI’ to bring transparency & efficiency

• Union Minister of Ports, Shipping & Waterways (MoPSW) and Ayush Shri Sarbananda Sonowal launched ‘SAGAR SAMRIDDHI’ – the online dredging monitoring system – in order to accelerate ‘Waste to Wealth’ initiative of the Ministry.
• Secretary of MoPSW Sudhansh Pant along with other senior officials of the Ministry, Major Ports and Organisations also attended this programme.
• This system has been developed by National Technology Centre for Ports, Waterways and Coasts (NTCPWC) the technological arm of MoPSW.
• The new technology brings in marked improvement against the old system of Draft & Loading Monitor (DLM) system.
• The annual maintenance dredging at Major Ports and Waterways is around 100 million cubic meters, for which about Rs.1000 crores are spent each year by the Ports and IWAI.
• Now with implementation of the Addendum of the Dredging guidelines and by using the Sagar Samriddhi, online dredging monitoring system, the dredging cost will be greatly reduced along with bringing in more transparency and efficiency in the overall system.

CURRENT AFFAIRS : INTERNATIONAL NEWS

5 New nations were elected as non-permanent members of UN Security Council  

• The United Nations General Assembly (UNGA) elected 5 countries Algeria, Guyana, Sierra Leone, Slovenia and South Korea as non-permanent members of the United Nations Security Council (UNSC) for a 2-year term starting on January 1, 2024 & serving till December 31, 2025.
• These new members will replace Albania, Brazil, Gabon, Ghana and the United Arab Emirates (UAE) at present when their two-year term ends on 31 December 2023.

Key Highlights :

• The Security Council is composed of 15 countries, 5 of which – China, France, Russia, the United Kingdom and the United States – are permanent members, granting them the right to veto any resolution or decision.
• The 10 non-permanent members are elected by the General Assembly, which comprises all 193 UN Member States, and in line with geographical distribution by region.
• Voting is conducted by secret ballot and candidates must receive a two-thirds majority, or 128 votes, even if they run uncontested.
• Overall, 192 countries voted to fill 3 Council seats allocated to the Africa and Asia-Pacific Groups, and one each for Eastern Europe and Latin America and the Caribbean.
• Slovenia beat Belarus in the race for Eastern Europe, receiving 153 votes versus 38, while Algeria, Guyana, Sierra Leone and the Republic of Korea ran unopposed.

About UNSC :

• Founded : 24 October 1945
• Headquarters : New York, United States
• Membership : 15 countries
• The UNSC is one of the six principal organs of the United Nations (UN) tasked with maintaining global peace & security.
• The UNSC is the only UN body with the authority to issue binding resolutions on member states.

About UN :

• Established : 1945
• Headquarters : New York, United States of America
• Secretary General : António Guterres
• Membership : 193 member states & 2 observer states

Bar Council of India Signs MoU With Bar Council Of England & Wales For Mutual Exchange Program Of Lawyers & Law Students

• The Bar Council of India (BCI) has entered into a Memorandum of Understanding (MoU) with the Bar Council of England and Wales & Law Society of England and Wales for an exchange programme of Lawyers and Law Students for mutual exchange of training & learning amongst each other’s jurisdiction.

Aim :

• To facilitate a healthy mutual exchange of ideas, learning and training of the legal fraternity of both jurisdictions.
• The MoU was signed at a meeting held at London on June 5, 2023 by the Chairman of Bar Council of India, the President of Bar Council of England and Wales as President of Law Society of England and Wales.
• The Lawyers recommended by the Bar Council of India shall have no right to practice in the UK in terms of the MOU.
• The purpose is to only facilitate an opportunity of learning and gaining experience in both jurisdictions.
• The MoU further provides for extending training facilities to the solicitors & Barristers of England and Wales.

About BCI :

• Founded : 1961
• Headquarters : New Delhi, Delhi
• Chairman : Manan Kumar Mishra
• The BCI is a statutory body established under the section 4 of Advocates Act 1961 that regulates the legal practice and legal education in India.

CURRENT AFFAIRS : STATE NEWS

Haryana CM Manohar Lal to Launch Intergrated Water Resources Action Plan 2023-25 in Chandigarh

• Haryana Chief Minister (CM) Shri Manohar Lal will launch integrated Water Resources Action Plan-2023-25 under Amrit Jal Kranti at Chandigarh, which will be a bold step towards conserving water resources.
• A 2-day water conservation seminar was organized in Panchkula in April, 2023, in which many departments of Haryana, including experts from India and abroad doing research on water conservation participated.
• Several initiatives like Mera Pani-Meri Virasat Yojana, have been taken towards water conservation which have drawn significant results.
• He also directed that the mapping of schools and sports stadiums should be done on the same lines as mapping was done to open a college in a 20 kilometre radius.

About Haryana :

• Governor : Bandaru Dattatraya
• Chief Minister : Manohar Lal Khattar
• Capital : Chandigarh
• National Park : Kalesar National Park, Sultanpur National Park
• Wildlife Sanctuary : Chhilchhila Wildlife Sanctuary, Nahar Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

‘India’s Internet economy to reach $1 trillion by 2030’

• A continued shift in consumer behavior and the evolution of the business ecosystem will underpin the growth of India’s Internet economy, from approximately $175 billion of consumption in 2022 to $1 trillion by 2030, according to a report by Google, Temasek, and Bain & Company.
• The e-Conomy of a Billion Connected Indians’, said the confluence of three crucial forces — digital-seeking behaviors among Internet users in Tier 2+ locations, digitisation of large, traditional businesses along with a growing start-up ecosystem, and the success of India’s homegrown digital public goods or ‘India Stack’ — has positioned the Internet economy for acceleration.
• Consequently, the contribution of the Internet economy to India’s technology sector is set to expand, from the present 48 per cent to 62 per cent in 2030, while its share in India’s GDP will increase from 4-5 per cent to nearly 12-13 per cent
• B2C e-commerce will continue to maintain a leading share of digital services, growing 5-6 times to $350-380 billion by 2030. India’s online shoppers are expected to double by 2030, with currently over 60 per cent of new shoppers located in smaller towns, and increasingly attracted to the Direct-to-Customers (D2C) offerings and accessibility features of digital platforms.

CURRENT AFFAIRS: AWARDS AND HONOURS

President Droupadi Murmu becomes Indian to be conferred with Suriname’s highest civilian award

• Suriname conferred its highest civilian honour to President Droupadi Murmu- The Grand Order of the Chain of Yellow Star, the first Indian to receive this award.
• Murmu received the award from the President of the Republic of Suriname, Chandrikapersad Santokhi.
• Murmu after receiving the award, said that the honour holds tremendous significance not only for her but the people of India.
• She dedicated the award to the “successive generations” of the Indian-Surinamese community.
• India and Suriname signed four major Memoranda of Understanding (MoUs) in the fields of health, agriculture and capacity building.
• The pacts were inked after Murmu and Santokhi held delegation-level talks. President Murmu led delegation-level talks between the two sides.

CURRENT AFFAIRS: RANKING AND INDEX

2.3 billion people globally use polluting fuel to cook:

• Up to 2.3 billion people around the world are still using polluting fuels to cook and 675 million don’t have electricity, according to a report released by five international organizations.
• The report said that at current rates, 660 million people are projected to be without electricity and 1.9 billion won’t have clean cooking opportunities by 2030.
• That’s the target date to achieve a United Nations goal set in 2015 “to ensure access to affordable, reliable, sustainable and modern energy for all.”
• The report by the International Energy Agency, International Renewable Energy Agency, U.N. Statistics Division, World Bank and World Health Organization said that at the midway point toward the goal, the world is not on track to reach the energy target, which will negatively impact the health of millions and accelerate climate change.

Mumbai Most Expensive Indian City For Expats; Hong Kong Tops Globally

• A report by Mercer’s Cost of Living has positioned Mumbai as the most expensive city in India for expatriates.
• According to the report, after Mumbai, cities like New Delhi and Bengaluru fall on the second and third place in the most expensive list for expats list in India.
• The Mercer’s Cost of Living survey was conducted across 227 cities from across five continents.
• In Mercer’s 2023 Cost of Living survey, Mumbai has been positioned at 147 in the global ranking, New Delhi at 169, Chennai (184), Bengaluru (189), Hyderabad (202), Kolkata (211), and Pune (213).
• Globally, Hong Kong, Singapore and Zurich are the most expensive cities for international employees this year, the report shows.
• As per the report, the least expensive locations in the ranking include Havana, which dropped 83 spots, due in part to strong currency devaluations mid-last-year, and two cities in Pakistan — Karachi and Islamabad.
• Among Indian cities, besides Mumbai, the other surveyed cities — Chennai, Hyderabad, Kolkata, and Pune offer accommodation costs that are over 50 percent lower than Mumbai. Among these cities, Kolkata claims the lowest cost of expatriate accommodation, providing a more affordable option for residents and expatriates
• Mumbai and Delhi rank among the top 35 most expensive cities in Asia for expatriates, among those surveyed in 2023.
• However, Mumbai moved down one spot within Asian cities to 27th position from the previous year (2022).

CURRENT AFFAIRS: MOUS AND AGREEMENT

IICA and RRU sign MoU for academic and research collaboration

• A Memorandum of Understanding (MoU) was signed between Indian Institute of Corporate Affairs (IICA) and Rashtriya Raksha University (RRU)
• The MoU intends to synergise the professional capabilities of IICA and RRU towards capacity building, education, research and consulting in the domain of Internal Security, Financial Crimes, Law Enforcement, Corporate Frauds and other subject matters common to their mandate and objectives.
• The MoU also provides for exchange of knowledge and resources between IICA and RRU for conducting research, training and consultancy.
• This collaboration between the two institutions would be a significant step towards strengthening of the existing financial system of the nation.”
• The MoU was signed by Prof (Dr) Naveen Sirohi from IICA who also shared the purpose statement of the collaboration.
• Dr Dimpal T Raval, Director School of National Security and Law from RRU proposed vote of thanks along with articulating action plan.

ABOUT IICA

• IICA is an institution established by the Ministry of Corporate Affairs (MCA), Government of India as an autonomous body to act as a think-tank and a centre of excellence to support the growth of the corporate sector in India through an integrated and multi-disciplinary approach.
• RRU is an Institution of National Importance under the Ministry of Home Affairs.
• It is a pioneering national security and police University of India.

Indian Council of Agricultural Research signs an MOU with Amazon Kisan to Empower Farmers

• Indian Council of Agricultural Research (ICAR), New Delhi signed a MoU with Amazon Kisan to combine strengths and create synergy between the two organizations for guiding the farmers on scientific cultivation of different crops for optimum yield and income.
• ICAR will provide technological backstopping to the farmers through Amazon’s network.
• It will improve farmers’ livelihood and boost crop yield.
• This MoU in farmer’s partnership with Amazon Kisan program will help ensuring access to high-quality fresh produce for consumers across India, including through Amazon Fresh.
• Dr Himanshu Pathak, Secretary DARE & Director General ICAR, on this occasion, emphasized upon secondary agriculture for better remuneration for the farmers.
• He further highlighted the importance and role of critical inputs in agriculture and season-based crop plans
• The outcomes from a pilot project at Pune between ICAR-KVK and Amazon has motivated to further expand the collaboration to extend the precise agriculture practices developed through extensive research.
• ICAR and Amazon will work together on other farmer engagement programs at Krishi Vigyan Kendras, conducting demonstrations, trials, and capacity-building initiatives to enhance farming practices and farm profitability.
• Furthermore, Amazon will provide training support and assist farmers in marketing their produce through its online platform, facilitating direct connections with consumers.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

K.Prathapa Reddy appointed as new chairman of Andhra Pradesh Grameena Vikas Bank

• Prathapa Reddy, Deputy General Manager of State Bank of India (SBI), has been appointed as Chairman of Andhra Pradesh Grameena Vikas Bank (APGVB) for 5 years.
• He took over the charge from K. Praveen Kumar.
• A deputy general manager with the SBI, he had successfully led the Real Estate Housing Business Unit (REHBU) at SBI Bhopal circle.
• He had held various positions, including that of the regional manager of Nizamabad and Himayat Nagar regions, overseeing rural, semi-urban, urban, and metro branches.
• He also served as the head of the agriculture development branch and retail assets centralised processing centre of SBI in Hyderabad.

About APGVB :

• Founded : 31 March 2006
• Headquarters : Warangal, Andhra Pradesh, India

Janardan Prasad appointed as  new Director General of Geological Survey of India

• Janardan Prasad has been appointed as the new Director General of the Geological Survey of India (GSI).
• Prasad, succeeds Dr. S. Raju.

About Janardan Prasad :

• Prasad joined GSI, Gandhinagar, as a geologist in 1988.
• He was also posted in Shillong, Patna, Faridabad, Ranchi and Hyderabad in various capacities.
• Before this assignment, he was posted as the Additional Director General and Head of the Department (ADG & HoD) of the southern region since June 2020
• He was also chairman of the technical-cum- cost committee (TCC), National Mineral Exploration Trust, New Delhi.
• He was part of the Justice MB Shah Commission for inquiry into illegal mining of iron and manganese in Andhra Pradesh, Goa, Jharkhand, Karnataka, Chhattisgarh and Odisha, where the central and state governments were incurring huge revenue loss.

About GSI :

• Founded : 4 March 1851
• Headquarters : Kolkata, West Bengal, India
• The GSI, is an attached office to the Ministry of Mines & has 6 regional offices in Lucknow, Jaipur, Nagpur, Hyderabad, Shillong and Kolkata.

Comptroller and Auditor General Girish Chandra Murmu re-elected as External Auditor of WHO for 4-year term

• Comptroller and Auditor General (CAG) Girish Chandra Murmu has been re-elected as External Auditor of the World Health Organisation (WHO) for a 4-year term from 2024 to 2027.
• CAG is already holding this position in WHO since 2019 for a four-year term from 2019 to 2023.
• The election was held in the 76th World Health Assembly in Geneva.
• The CAG of India was re-elected with an overwhelming majority of 114 out of 156 votes in the first round of voting itself.

About Girish Chandra Murmu :

• Girish Chandra Murmu, born on November 21, 1959 in Odisha.
• He is an IAS of Gujarat cadre, 1985 batch.
• He was the first Lieutenant Governor of the Union Territory of Jammu and Kashmir (J&K).
• He had served in various capacities in the Indian government including Secretary of the Department of Expenditure, Special and Additional Secretary in the Department of Financial Services and Department of Revenue, and Joint Secretary in the Department of Expenditure.
• The re-election as WHO’s external auditor is his second major international audit assignment following his selection for the post of external auditor (2024-2027) of the International Labour Organization (ILO) in Geneva in March 2023.

About WHO External Auditor :

• The WHO External Auditor is the Auditor-General of a Member State appointed by and reporting to the Health Assembly.
• The term of office is 4 years, and can be extended once, by the Health Assembly, for an additional 4 years.

About CAG :

• The CAG of India is the supreme audit institution of India, established under Article 148 of the Constitution of India.
• The CAG is a member of the United Nations Panel of External Auditors as well as the governing boards of the International Organization of Supreme Audit Institutions (INTOSAI) and Asian Organization of Supreme Audit Institutions (ASOSAI).
• He chairs the INTOSAI Knowledge Sharing Committee, its working group on IT audit, and the Compliance Audit Sub-Committee.

About WHO :

• Established : 7 April 1948
• Headquarters : Geneva, Switzerland
• Director General : Tedros Adhanom
• The WHO is a specialized agency of the United Nations responsible for international public health.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India approves deal involving Manipal Group

• The Competition Commission of India (CCI) has cleared the proposed deal involving Manipal Health Enterprises Private Ltd (MHEPL) and Manipal Education and Medical Group India Private Ltd (MEMG India).
• MHEPL operates a chain of multi-speciality hospitals under the brand name ‘Manipal Hospitals’, while MEMG India is a wholly-owned subsidiary of RSP Trust India and belongs to the Pai family group.
• The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

About CCI :

• Established : 14 October 2003
• Headquarters : New Delhi, Delhi, India
• Chairman : Ravneet Kaur
• The CCI is the chief national competition regulator in India.
• It is a statutory body within the Ministry of Corporate Affairs.

CCI approves minority stake acquisition in Lenskart by Dove Investments

• Fair-trade regulator Competition Commission of India (CCI) has approved the minority stake acquisition in Lenskart Solutions by Dove Investments, Defati Investments Holding BV and Infinity Partners under the green channel route.
• The proposed combination relates to Dove Investments, Defati Investments Holding BV and Infinity Partners’ minority acquisition of certain equity shareholding of Lenskart.
• Lenskart Solutions Pvt Ltd (LSPL) is engaged in the business of manufacturing, sale and wholesale trading of eyewear products, while Dove Investments, Defati Investments Holding BV and Infinity Partners are private equity investors.
• Separately, the CCI has cleared the acquisition of securities of a newly incorporated entity of Mahindra & Mahindra Ltd by the World Bank Group arm IFC.
• Under the green channel route, a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on being intimated to the anti-trust regulator.

About Lenskart :

• Founded : 2010
• Headquarters : Gurugram, Haryana, India
• MD & CEO : Peyush Bansal

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

DRDO successfully flight-tests New Generation Ballistic Missile ‘Agni Prime’ off Odisha Coast

• The New Generation Ballistic Missile ‘Agni Prime’ or Agni-P was successfully flight-tested by Defence Research and Development Organisation (DRDO) from Dr APJ Abdul Kalam Island off the coast of Odisha.
• This was the first pre-induction night launch conducted by the users after 3 successful developmental trials of the missile, validating the accuracy and reliability of the system.

About Agni-P :

• Agni-P is a two-stage canisterised solid propellant ballistic missile with dual redundant navigation and guidance system.
• It has a range between 1000 to 2000 km and was tested for the first time in June 2021.
• It is lighter than all the earlier Agni series of missiles.
• The Agni series of missiles constitute the backbone of India’s nuclear weapons delivery which also includes the Prithvi short range ballistic missiles and fighter aircraft.
• Range Instrumentation like Radar, Telemetry and Electro Optical Tracking Systems were deployed at different locations, including two down-range ships, at the terminal point to capture flight data covering the entire trajectory of the vehicle.

About DRDO :

• Established : 1958
• Headquarters : New Delhi, Delhi, India
• Chairman : Sameer V Kamath
• The DRDO is the premier agency under the Department of Defence Research and Development in the Ministry of Defence (MoD) of the Government of India (GoI).

CURRENT AFFAIRS: SPORTS NEWS

India finishes on top at International Shooting Sport Federation Junior World Cup:

• India finished on top of the International Shooting Sport Federation Junior World Cup with 15 medals, including six gold, six silver, and three bronze medals, at Suhl, Germany.
• On the final day, yesterday India’s junior Trap shooters could not make it to the medal round after finishing outside the top six in the qualification round.
• With this achievement, India has now finished on top of all the ISSF Junior World Cups and World Championships held since 2019.

About ISSF:

• Founded: 1907
• Headquarters: Munich, Germany
• Membership: 150 regions
• Secretary: Willi Grill (Secretary-General)

Daily CA One- Liner: June 10

• The Reserve Bank of India’s (RBI) Monetary Policy Committee headed by RBI Governor Shaktikanta Das in its second bi-monthly monetary policy meeting of FY24 has kept the repo rate unchanged at 6.5%.
• The Federal Bank has launched a campaign titled ‘I am Adyar, Adyar is me’ in Chennai, Tamil Nadu (TN) to celebrate people and their culture by transforming an entire bank branch into a museum of local stories.
• According to the ratings agency ICRA report, Bond issuances by banks are likely to fall to Rs 90,000 crore in the current financial year from an all-time high of Rs 1.1 lakh crore in FY23 due to improved liquidity conditions and foreign investors inflows.
• Dr Mansukh Mandaviya, Union Minister for Health and Family Welfare as he inaugurated the CGHS Wellness Centres in Chandigarh and Panchkula
• Union Minister of Ports, Shipping & Waterways (MoPSW) and Ayush Shri Sarbananda Sonowal launched ‘SAGAR SAMRIDDHI’ – the online dredging monitoring system – in order to accelerate ‘Waste to Wealth’ initiative of the Ministry
• A continued shift in consumer behavior and the evolution of the business ecosystem will underpin the growth of India’s Internet economy, from approximately $175 billion of consumption in 2022 to $1 trillion by 2030, according to a report by Google, Temasek, and Bain & Company
• Suriname conferred its highest civilian honour to President Droupadi Murmu- The Grand Order of the Chain of Yellow Star, the first Indian to receive this award
• Up to 2.3 billion people around the world are still using polluting fuels to cook and 675 million don’t have electricity, according to a report released by five international organizations
• A report by Mercer’s Cost of Living has positioned Mumbai as the most expensive city in India for expatriates
• A Memorandum of Understanding (MoU) was signed between Indian Institute of Corporate Affairs (IICA) and Rashtriya Raksha University (RRU)
• Indian Council of Agricultural Research (ICAR), New Delhi signed a MoU with Amazon Kisan to combine strengths and create synergy between the two organizations for guiding the farmers on scientific cultivation of different crops for optimum yield and income
• India finished on top of the International Shooting Sport Federation Junior World Cup with 15 medals, including six gold, six silver, and three bronze medals, at Suhl, Germany
• The United Nations General Assembly (UNGA) elected 5 countries Algeria, Guyana, Sierra Leone, Slovenia and South Korea as non-permanent members of the United Nations Security Council (UNSC) for a 2-year term starting on January 1, 2024 & serving till December 31, 2025.
• The Bar Council of India (BCI) has entered into a Memorandum of Understanding (MoU) with the Bar Council of England and Wales & Law Society of England and Wales for an exchange programme of Lawyers and Law Students for mutual exchange of training & learning amongst each other’s jurisdiction.
• Haryana Chief Minister (CM) Shri Manohar Lal will launch integrated Water Resources Action Plan-2023-25 under Amrit Jal Kranti at Chandigarh, which will be a bold step towards conserving water resources.
• Prathapa Reddy, Deputy General Manager of State Bank of India (SBI), has been appointed as Chairman of Andhra Pradesh Grameena Vikas Bank (APGVB) for 5 years.
• Janardan Prasad has been appointed as the new Director General of the Geological Survey of India (GSI).
• Comptroller and Auditor General (CAG) Girish Chandra Murmu has been re-elected as External Auditor of the World Health Organisation (WHO) for a 4-year term from 2024 to 2027.
• The Competition Commission of India (CCI) has cleared the proposed deal involving Manipal Health Enterprises Private Ltd (MHEPL) and Manipal Education and Medical Group India Private Ltd (MEMG India).
• Fair-trade regulator Competition Commission of India (CCI) has approved the minority stake acquisition in Lenskart Solutions by Dove Investments, Defati Investments Holding BV and Infinity Partners under the green channel route.
• The New Generation Ballistic Missile ‘Agni Prime’ or Agni-P was successfully flight-tested by Defence Research and Development Organisation (DRDO) from Dr APJ Abdul Kalam Island off the coast of Odisha.