Current Affairs June 29th 2023| Current Affairs News

Dear Readers, Daily Current Affairs News Updates about the National and International events were listed here. Read Current Affairs Today here and stay updated with current news. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this and try the Current Affairs Quiz to test your knowledge level.

CURRENT AFFAIRS : BANKING & FINANCE

Canara Bank becomes the first public sector bank in India to launch UPI payments via credit card

• Canara Bank has become the first Public Sector Bank (PSB) in India to introduce the facility of Unified Payments Interface (UPI) payments to merchants through RuPay Credit Card in association with the National Payments Corporation of India (NPCI).
• This facility is made available in the popular ‘Canara ai1’ Banking Super App of the Bank.

Key Highlights :

• Customers of the Canara Bank will now be able to make UPI payments to merchants from their RuPay Credit Cards also in addition to their bank accounts.
• Customers can link their Canara Bank RuPay Credit Cards to their UPI IDs.
• The transaction limits applicable for UPI transactions shall continue for UPI payments using RuPay Credit Card.
• This facility will further enhance digital payments and extend the UPI ecosystem.
• Presently, only Merchant Payments are allowed using this facility, and Person-to-Person, Card-to-Card, or Cash-Out Transactions will not be permitted for UPI payments from RuPay Credit Cards.

About Canara Bank :

• Headquarters : Bangalore, Karnataka
• MD & CEO : K Satyanarayana Raju
• Tagline : Together We Can

World Bank Approves USD 300 Million Loan to Improve Quality Of School Education in Chhattisgarh

• The World Bank has approved a loan worth USD 300 million to help expand and improve the quality of education in government-run schools in Chhattisgarh.
• The loan has a maturity of 5 years with a grace period of 5 years.

Aim :

• To benefit about 4 million students, mostly from poor and vulnerable communities in Chhattisgarh.
• The Chhattisgarh Accelerated Learning for a Knowledge Economy Operation (CHALK) aims to improve access to education across all grades, and also address the growing demand for science and commerce studies at the senior secondary level.

Key Highlights :

• Almost 86% of schools in the state are run by the government.
• While enrolment at the elementary school level is 95%, it is only 57.6% at the senior secondary level and the enrolment for boys is 10.8% lower than that for girls.
• Lack of necessary infrastructure like laboratories and facilities was also attributed to be the reason for low enrolments.
• Students from remote locations also face a problem with accommodation.
• While girls have residential school facilities under the centrally sponsored Samagra Shiksha program, there is no such scheme for boys.
• The project will help develop and operate around 600 model composite schools – from Grades 1 to 12 and offer science and commerce at the senior secondary level.
• These schools will provide a quality education through trained teachers, strong school leadership and management, and adequate infrastructure facilities for learning.
• More than 175,000 teachers are expected to receive professional development support under the project.

About World Bank :

• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga
• The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.

About Chhattisgarh :

• Governor : Biswabhusan Harichandan
• Chief Minister :Bhupesh Baghel
• Capital : Raipur
• National Park : Guru Ghasi Das (Sanjay) National Park, Kanger Valley National Park
• Wildlife Sanctuary : Achanakmar Wildlife Sanctuary, Barnawapara Wildlife Sanctuary

CURRENT AFFAIRS: NATIONAL NEWS

Union Cabinet approves Ratification of the HQA between India and CDRI:

• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval for ratification of the Headquarters Agreement (HQA) between the Government of India (Gol) and Coalition for Disaster Resilient Infrastructure (CDRI) signed on 22nd August, 2022.
• The CDRI was launched by the Hon’ble Prime Minister of India during the United Nations Climate Action Summit on the 23’d September 2019, at New York.
• It is a major global initiative launched by the Government of India and is seen as India’s attempt to obtain a global leadership role in climate change and disaster resilience matters.
• On the 28 August, 2019, the Cabinet had approved the setting up of CDRI along with its supporting Secretariat in New Delhi and also gave the approval for the Government of India’s financial support of Rs. 480 crores to CDRI over a period of 5 years from 2019-20 to 2023-24.
• Subsequently, on the 29th June, 2022, the Cabinet approved the recognition of CDRI as an International Organization and for the signing of a Headquarters Agreement (HQA) for granting CDRI exemptions, immunities and privileges as contemplated under Section-3 of the UN (P&I) Act, 1947.
• In pursuance of the Cabinet decision, on 22nd August, 2022 the HQA was signed between the Gol and CDRI.
• CDRI is a global partnership of National Governments, UN agencies and programmes, multilateral development banks and financing mechanisms, the private sector, academic and knowledge institutions that aim to promote the resilience of infrastructure systems to climate and disaster risks, thereby ensuring sustainable development.

Union Cabinet approves Introduction of National Research Foundation Bill, 2023 in Parliament to strengthen research eco-system in the country

• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the introduction of the National Research Foundation (NRF) Bill, 2023 in Parliament.
• The approved Bill will pave the way to establish NRF that will seed, grow and promote Research and Development (R&D) and foster a culture of research and innovation throughout India’s universities, colleges, research institutions, and R&D laboratories.
• The bill, after approval in the Parliament, will establish NRF, an apex body to provide high-level strategic direction of scientific research in the country as per recommendations of the National Education Policy (NEP), at a total estimated cost of Rs. 50,000 crores during five years (2023-28).
• The Department of Science and Technology (DST) will be the administrative Department of NRF which will be governed by a Governing Board consisting of eminent researchers and professionals across disciplines.
• NRF’s functioning will be governed by an Executive Council chaired by the Principal Scientific Adviser to the Government of India.
• NRF will forge collaborations among the industry, academia, and government departments and research institutions, and create an interface mechanism for participation and contribution of industries and State governments in addition to the scientific and line ministries.
• It will focus on creating a policy framework and putting in place regulatory processes that can encourage collaboration and increased spending by the industry on R&D.
• The bill will also repeal the Science and Engineering Research Board (SERB) established by an act of Parliament in 2008 and subsume it into NRF which has an expanded mandate and covers activities over and above the activities of SERB.

Union Government approves Fair and Remunerative Prices of sugarcane payable by Sugar Mills to sugarcane farmers for sugar season 2023-24

• The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2023-24 (October – September) at Rs.315/QTL for a basic recovery rate of 10.25%.
• It has also been approved to provide a premium of Rs.3.07/qtl for each 0.1% increase in recovery over and above 10.25%, & a reduction in FRP by Rs.3.07/qtl for every 0.1% decrease in recovery.
• Further, with a view to protecting interest of sugarcane farmers, the government has also decided that there shall not be any deduction in the case of sugar mills where recovery is below 9.5%.
• Such farmers will get Rs.291.975/qtl for sugarcane in ensuring sugar season 2023-24 in place of Rs.282.125/qtl in current sugar season 2022-23.
• The cost of production of sugarcane for the sugar season 2023-24 is Rs.157/qtl.
• This FRP of Rs.315/qtl at a recovery rate of 10.25% is higher by 100.6% over production cost.
• The FRP for sugar season 2023-24 is 3.28% higher than the current sugar season 2022-23.
• The FRP approved shall be applicable for the purchase of sugarcane from the farmers in the sugar season 2023-24 (starting w.e.f. 1st October, 2023) by sugar mills.
• The sugar sector is an important agro-based sector that impacts the livelihood of about 5 crore sugarcane farmers and their dependents and around 5 lakh workers directly employed in sugar mills, apart from those employed in various ancillary activities including farm labour and transportation.
• The FRP has been determined on the basis of recommendations of the Commission for Agricultural Costs and Prices (CACP) and after consultation with State Governments and other stakeholders.

Centre Provides Financial Incentives to States to Accelerate Power Sector Reforms

• The Department of Expenditure, Ministry of Finance, has given a boost to reforms by the States in power sector by providing financial incentives in the form of additional borrowing permissions.
• This move aims to encourage and support the States in undertaking reforms to enhance the efficiency and performance of the power sector.
• The initiative was announced by the Union Finance Minister in Union Budget 2021-22.
• Under this initiative, an additional borrowing space of up to 0.5 per cent of the Gross State Domestic Product (GSDP) is available to the States annually for a four-year period from 2021-22 to 2024-25.
• This additional financial window is dependent on the implementation of specific reforms in the power sector by the States.
• The initiative has spurred State Governments to initiate the reform process, and several States have come forward and submitted details of the reforms undertaken and achievements of various parameters to the Ministry of Power.
• Based on the recommendations of the Ministry of Power, the Ministry of Finance has granted permission for reforms undertaken in 2021-22 and 2022-23 to 12 State Governments.
• Over the last two financial years, they have been allowed to raise financial resources of Rs. 66,413 crores through additional borrowing permissions.

International Conference on Green Hydrogen to be held in New Delhi during July 5 – 7, 2023

• The Government of India is organizing an International Conference on Green Hydrogen (ICGH-2023) during 5th – 7th July 2023 at Vigyan Bhawan, New Delhi, to bring together the global scientific and industrial community to discuss recent advances and emerging technologies in the entire green hydrogen value chain.
• The conference will enable the sector stakeholders to explore the evolving green hydrogen landscape and innovation-driven solutions in the sector.
• The conference is being organized by the Ministry of New and Renewable Energy, in partnership with the Ministry of Petroleum and Natural Gas, Council of Scientific and Industrial Research and Office of Principal Scientific Advisor to the Government of India.
• The fundamental aim of the Conference is to explore how we can establish a Green Hydrogen ecosystem and foster a systemic approach to meeting the global goals for decarbonization through Green Hydrogen.
• Apart from domain-specific research interactions on hydrogen production, storage, distribution and downstream applications, the conference will also discuss green financing, human resource upskilling and startup initiatives in this area.
• The conference will enable to share and learn from international best practices in the sector.
• The National Green Hydrogen Mission was launched by the Government of India on 4th January 2023, as part of its decarbonization strategy.
• The Mission places significant emphasis on R&D in green hydrogen and aims to make India a global hub of Green Hydrogen production, utilization, and export.
• The Mission will kickstart major interventions in policies and technology to develop a robust Green Hydrogen ecosystem in the country.

Shri Sarbananda Sonowal launches New CSR guidelines ‘Sagar Samajik Sahayog’

• The Union Minister of Ports, Shipping & Waterways and Ayush Shri Sarbananda Sonowal launched ‘Sagar Samajik Sahayyog’ – the new guidelines of Corporate Social Responsibility (CSR) by the Ministry of Ports, Shipping & Waterways.
• The new guidelines empower ports to undertake CSR activities directly.
• The event was also attended by Union Minister of State for Ports, Shipping & Waterways, Shri Shantanu Thakur & Union Minister of State of Ports, Shipping & Waterways, Shripad Yesso Naik
• The new CSR guidelines unveiled will impact projects and programmes relating to activities specified in Section 70 of the Major Port Authorities Act, 2021.
• For the purpose of planning and implementing CSR projects, a Corporate Social Responsibility Committee shall be constituted in each major port.
• The Committee shall be headed by the Dy. Chairperson of the Major Port and shall have 2 other Members.
• Each major port shall prepare a Corporate Social Responsibility Plan for every financial year, and integrate its CSR in Business Plan with the social and environmental concerns related to the business of the entity.
• CSR Budget will be mandatorily created through a Board Resolution as a percentage of net profit.
• A port with an annual net profit of ₹100 crores or less can fix between 3% – 5% for CSR expenses.
• Similarly, ports with a net profit between ₹100 crores to ₹500 crores annually, can fix their CSR expenses between 2% and 3% of their net profit, subject to a minimum of ₹3 crores.
• For ports, whose annual net profit is above ₹500 crores per year, the CSR expenses can be between 0.5% and 2% of its net profit.
• 20% of CSR expenses must be earmarked to Sainik Kalyan Board at the district level, National Maritime Heritage Complex and National Youth Development Fund.

CURRENT AFFAIRS : STATE NEWS

Seven products from Uttar Pradesh get a Geographical Indication tag

• The Geographical Indications Registry in Chennai has given tags to 7 different products from Uttar Pradesh (UP).

List of 7 products :

1. Amroha Dholak
2. Mahoba Gaura Patthar Hastashlip
3. Mainpuri Tarkashi
4. Sambhal Horn Craft
5. Baghpat Home Furnishings
6. Barabanki Handloom Product
7. Kalpi Handmade Paper

About Amroha Dholak :

• The Amroha Dholak is a musical instrument made of natural wood.
• Mango, jackfruit and teakwood are preferred for making the dholak.

About Baghpat Home Furnishings :

• Baghpat and Meerut are famous for their exclusive handloom home furnishing product and running fabrics in cotton yarn since generations, and only cotton yarn is used in the handloom weaving process.

About Mahoba Gaura Patthar Hastashlip :

• The Mahoba Gaura Patthar Hastashlip is a stone craft.
• It is a very unique and soft stone with the scientific name, the ‘Pyro Flight Stone’.
• Gaura stone craft is made of radiant white-coloured stone that is predominantly found in this region.

About Mainpuri Tarkashi & Sambhal Horn Craft :

• Tarkashi, a popular art form from Mainpuri in Uttar Pradesh, is primarily brass wire inlay work on wood.
• It was mainly used for khadaous (wooden sandals), a necessity for every household, since leather was considered unclean.
• And for the Sambhal Horn Craft, the raw material is procured from dead animals.
• They are completely hand-made.

About GI Tag :

• A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or manufactured product (handicraft and industrial goods) originating from a definite geographical territory.
• A GI is a label that is applied to products that have a specific geographical origin and that have characteristics related to a particular location.
• The tag is valid for a period of 10 years after which it is renewed.
• The Department for Promotion of Industry and Internal Trade (DPIIT),an arm of the commerce and industry ministry which deals with investments and intellectual property rights (IPRs), has issued operational guidelines for financial assistance for undertaking the initiatives for the promotion of GIs

Assam to construct 1st underwater tunnel in Brahmaputra between Gohpur and Numaligarh

• Assam Chief Minister (CM) Shri Himanta Biswa Sarma announced that Assam’s first underwater railroad tunnel will be built between Numaligarh and Gohpur.

Aim :

• To connect the towns of Numaligarh and Gohpur, revolutionising transportation infrastructure in the region.
• The project will cost around Rs 6,000 crore.
• The tender for the project will open on July 4, 2023.
• It will be built under the Brahmaputra River and will be around 35 kilometres long.
• Both rails and vehicles will pass through the underwater tunnel.
• It will further connect the north and south banks of the Brahmaputra River and bring a transformational change in transportation infrastructure.
• To ensure smooth progress, preparations for the Detailed Project Report (DPR) and land selection are underway.
• The tunnel will promote trade and commerce opportunities and will boost tourism in the state.
• Currently, the Brahmaputra River is crossed by people through ferries or bridges, which is time-consuming and prone to disruptions during monsoon season.

About Assam :

• Governor : Gulab Chand Kataria
• Chief Minister : Himanta Biswa Sarma
• Capital : Dispur
• National Park : Kaziranga National Park, Nameri National Park, Manas National Park
• Wildlife Sanctuary : Chakrashila Wildlife Sanctuary, Bornadi Wildlife Sanctuary

Uttar Pradesh Government launches Legal Aid Defence Counselling System to provide free legal aid to needy

• The Uttar Pradesh (UP) government implemented the Legal Aid Defence Counsel System (LADCS) for a period of 2 years under the Uttar Pradesh State Legal Services Authority to provide free legal aid to the needy.
• This will help in solving minor disputes.
• Through the LADCS system, legal assistance will be provided to the general public by the chief, deputy and assistant counsel.

About LADCS :

• The primary objective of LADCS is to provide legal assistance, specifically in criminal cases, in districts or headquarters.
• It includes representation, trial and appeals in all sessions, special, magistrate and executive courts.

Benefits of LADCS :

• Direct benefits to Scheduled Castes and Scheduled Tribes (SC/ST) and victims of illegal acts
• This will be helpful for industrial workers and people in police custody.
• Assistance to persons affected by disasters (ethnic violence, flood, drought, earthquake, industrial disaster)
• Support for mentally ill persons (in safe homes, mental hospitals or nursing homes)
• Under this, The beneficiaries will also get benefits with an annual income of less than ₹3,00,000.
• LADCS will also benefit women, minor children, persons affected by disabilities like blindness, leprosy, deafness and mental weakness.
• The people who have been affected by the illegal acts of the individuals will get direct benefits.

About UP :

• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary

Himachal Pradesh to set up a Special Task Force to Combat Drug Menace

• The Himachal Pradesh (HP) government has decided to set up a special task force to combat the problem of the drug menace.
• Chief Minister Shri Sukhvinder Singh Sukhu emphasized the need for strict action against drug peddlers and to increase awareness campaigns to rescue the youth from the clutches of drug abuse.
• He also presented awards to winners of various events organized under the ‘Pradhav’ (Wipe out drugs) campaign.
• He also stated that the HP government has taken up the issue of making the Narcotics Act more stringent and has taken up the issue of making Narcotics Act more stringent with the Central Government.
• Himachal Pradesh Tourism Department would provide training to individuals recovering from rehabilitation centres to integrate into mainstream society.
• The state government is also planning to establish two State-of-the-art drug de-addiction-cum-rehabilitation centers in Himachal.
• The State Government has sanctioned four new police stations.
• Three will be on the Kiratpur-Manali four-lane highway and one in Bir in Kangra district.

About HP :

• Governor : Shiv Pratap Shukla
• Chief Minister : Sukhvinder Singh Sukhu
• Capital : Shimla (Summer), Dharamshala (Winter)
• Wildlife Sanctuary : Daranghati Sanctuary, Kanwar Sanctuary,Rupi Bhawa Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

India’s current account deficit narrows to 1.3 billion dollars in the January-March quarter of the last fiscal

• India’s current account deficit narrowed to 1.3 billion dollars or 0.2 per cent of GDP in the January-March quarter of last fiscal.
• According to the data released by the Reserve Bank, the decline was mainly due to moderation in the trade deficit and a robust increase in services exports.
• However, for fiscal 2022-23, the current account balance recorded a deficit of 2 per cent of GDP compared to a deficit of 1.2 per cent in 2021-22 as the trade deficit widened to 265.3 billion dollars from 189.5 billion dollars a year ago.
• RBI data has shown that net services receipts increased, both sequentially and on a year-on-year basis, on the back of a rise in net earnings from computer services.

CURRENT AFFAIRS: RANKING AND INDEX

IIT Bombay ranked 1st in India and 149th in the world in QS World University Rankings

• IIT Bombay has been ranked 1st in India and 149th in the world in QS (Quacquarelli Symonds) World University Rankings.
• It has moved significantly up from 172nd rank last year to 149th rank this year.
• For the first time ever, IITB has been ranked within top 150 and top 10% in QS rankings.
• IITB has a score of 81.9 in employer reputation, 73.1 in citation per faculty, 55.5 in academic reputation, 47.4 in employment outcome, 54.9 in sustainability.
• Among the various 9 parameters, employer reputation indicated the strongest one for IIT Bombay with a rank of 69 globally.
• Director of IIT Bombay Prof. Subhasis Chaudhuri said, excellence in teaching is the key driving point for IIT Bombay.
• Efforts lie in providing an ambience and infrastructure that is conducive to achieving excellence by students and faculties.
• This marks the first time in eight years that an Indian higher education institution has made it to the top 150 list, with the Indian
• Institute of Science (IISc) Bangalore previously achieved this feat in 2016 with a ranking of 147.
• IIT Bombay has made a remarkable leap, climbing 23 positions to secure the 149th rank globally in this year’s edition of the rankings.
• However, the list has also seen significant fluctuations, with IISc falling 70 positions from 155th rank to 225.
• It now stands as the third-highest ranked Indian institution, compared to being the best Indian institution last year.
• Similarly, IIT Delhi fell from 174 to 197, IIT Kanpur from 264 to 278 and IIT Madras from 250 to 285, among others.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATION

UN Secretary-General appoints Indian-origin satellite expert Aarti Holla-Maini as Director of UN 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, who served as the director of UNOOSA from 2014 to 2022.
• Until Aarti Holla-Maini assumes the position of Director of UNOOSA, Niklas Hedman of Sweden has been serving as the Acting Director of UNOOSA since March 2022 will continue in the post.

About Aarti Holla-Maini :

• Aarti Holla-Maini has over 25 years of professional experience in the space sector including managerial and advocacy functions.
• She has also served as the Secretary General of the Global Satellite Operators Association for over 18 years.
• Holla-Maini’s experience includes service as a member of the World Economic Forum’s Global Future Council on Space; member of the Advisory Group of the Space Sustainability Rating managed by eSpace at the École Polytechnique Federale de Lausanne (EPFL) Space Center.
• Also she served as a member of the Advisory Board of the Satellite Industry Association of India; Senior Space Policy Advisor to Forum Europe and as Expert Advisor on Space Traffic Management for European Union studies 2021-2023.
• She played a key role in designing the Crisis Connectivity Charter, which was established in 2015.
• Crisis Connectivity Charter aimed to facilitate emergency telecommunications through satellite technology, working closely with the UN World Food Program’s Emergency Telecommunications Cluster.
• Prior to this new appointment, she was Executive Vice-President Sustainability, Policy & Impact at NorthStar Earth & Space.

About UNOOSA :

• Established : 13 December 1958
• Headquarters : Vienna, Austria
• The UNOOSA is an office of the N. Secretariat that promotes and facilitates peaceful international cooperation in outer space.

Objective :

• 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.

Federal Bank elevates wholesale banking head Harsh Dugar as Executive Director

• Federal Bank’s wholesale banking head Harsh Dugar has been elevated as its executive director.
• RBI has approved his appointment for 3 years with effect from June 23, 2023.
• He will continue to oversee the wholesale banking division of Federal Bank.

About Harsh Dugar :

• Dugar comes with expertise in the field of Wholesale Banking which spans various verticals and geographies including corporate & institutional, commercial banking, business solutions, government business, CV/CE, and micro, rural & agri business.
• He joined the lender in October 2016 as the country head for corporate and institutional banking.
• He was the group president and country head of wholesale banking at Federal Bank since April 2021.

About Federal Bank :

• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO :Shyam Srinivasan
• Tagline : your perfect banking partner.

Haoliang Xu appointed as new Associate Administrator for the United Nations Development Programme

• UN Secretary-General Antonio Guterres appointed Haoliang Xu of China as undersecretary-general and associate administrator of the UN Development Programme (UNDP).
• Xu will succeed Usha Rao-Monari of India, Associate Administrator since April 2021.

About Haoliang Xu :

• Haoliang worked in the fields of civil engineering in China and the United States.
• Since joining UNDP in 1994, he has fulfilled various roles within the organization, working in field and headquarters assignments in Asia-Pacific, Europe and Central Asia, including assignments in Iran, Timor-Leste, Pakistan and Kazakhstan.
• Between 2013 and 2019, he was UN Assistant Secretary-General, UNDP Assistant Administrator and Director of the Regional Bureau for Asia and the Pacific.
• Currently, Xu serves as UN Assistant Secretary-General, UNDP Assistant Administrator, and Director of the Bureau for Policy and Programme Support (BPPS), a role he has carried out with distinction since July 2019.

About UNDP :

• Established : 22 November 1965
• Headquarters : New York
• Administrator : Achim Steiner
• The UNDP is a United Nations (UN) agency tasked with helping countries eliminate poverty and achieve sustainable economic growth and human development.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Piramal Enterprises to sell entire 8.34% stake in Shriram Finance

• Piramal Enterprises sold its entire stake of 8.34% in Non-Banking Financial Company (NBFC) major Shriram Finance through a block deal.
• Investment banking firm Morgan Stanley will be the sole broker for the block deal.
• The company will offload around 3.1 crore of its shares in Shriram Finance at a floor price of Rs 1,483 per share, which is a 5% discount from the current levels.
• TPG India sold around 99.18 equity shares or a 2.64% stake in the company through block deals to a clutch of mutual funds and other institutional investors.
• The transaction was completed at a weighted average price of Rs 1,401 per unit and the Private Equity (PE) firm earned Rs 1,389 crore.

CURRENT AFFAIRS: SPORTS NEWS

Kolkata Team Emerges Victorious in Historic Dubai Women’s Kabaddi Final

• In a significant milestone for women’s Kabaddi, Dubai hosted the world’s first international Women’s Kabaddi final, featuring the Punjab Panthers vs Uma Kolkata.
• The intense match concluded with the Uma Kolkata team emerging as champions, securing a grand prize of ₹10,000,000.
• The Punjab team demonstrated commendable skills and earned the second position, receiving a prize of ₹5,000,000.
• The tournament spanned 12 days and witnessed the participation of eight teams from India, representing different states.
• Esteemed figures, including Juma Al Madani, Chairman and CEO of Al Matiya Group, Pushyamitra Bhargav, Mayor of Indore, Pradeep Kumar Nehra, Director Women’s Kabaddi League and prominent Indian diaspora such as Dr Sunil Manjrekar and Chandrashekhar Bhatia, graced the final ceremony.
• The event was successfully organized by Women’s Kabaddi league who played a crucial role in bringing the tournament to fruition.
• This historic event provided a global platform for women Kabaddi players from India to showcase their skills and talent.
• The eight teams represented various Indian states, including the Delhi Dynamites, Gujarat Angels, Great Marathas, Haryana Hustlers, Punjab Panthers, Rajasthan Riders, Uma Kolkata, and Bengaluru Hawks.
• The tournament witnessed remarkable participation, with eight teams from across India converging in Dubai.
• The event not only showcased the exceptional abilities of Indian Kabaddi players but also promoted cultural exchange and strengthened ties between India and the United Arab Emirates.

CURRENT AFFAIRS: IMPORTANT DAYS

National Statistics Day – 29th June 2023

• Every year, National Statistics Day is celebrated on June 29 in India.
• The theme of Statistics Day, 2023 is “Alignment of State Indicator Framework with National Indicator Framework for Monitoring Sustainable Development Goals”.
• It was first celebrated on June 29, 2007, to acknowledge the outstanding contributions of Prof Mahalanobis in the fields of economic planning and statistical development.
• His birth anniversary was chosen as National Statistics Day.
• A notification for this was first published in the Gazette of India on June 05, 2007.

Daily CA One-Liner: June 29

• Canara Bank has become the first Public Sector Bank (PSB) in India to introduce the facility of Unified Payments Interface (UPI) payments to merchants through RuPay Credit Card in association with National Payments Corporation of India (NPCI).
• The World Bank has approved a loan worth USD 300 million to help expand and improve the quality of education in government-run schools in Chhattisgarh.
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval for ratification of the Headquarters Agreement (HQA) between the Government of India (Gol) and Coalition for Disaster Resilient Infrastructure (CDRI) signed on 22nd August, 2022.
• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the introduction of the National Research Foundation (NRF) Bill, 2023 in Parliament
• The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2023-24 (October – September) at Rs.315/QTL for a basic recovery rate of 10.25%
• The Department of Expenditure, Ministry of Finance, has given a boost to reforms by the States in power sector by providing financial incentives in the form of additional borrowing permissions.
• The Government of India is organizing an International Conference on Green Hydrogen (ICGH-2023) during 5th – 7th July 2023 at Vigyan Bhawan, New Delhi, to bring together the global scientific and industrial community to discuss recent advances and emerging technologies in the entire green hydrogen value chain.
• The Union Minister of Ports, Shipping & Waterways and Ayush Shri Sarbananda Sonowal launched ‘Sagar Samajik Sahayyog’ – the new guidelines of Corporate Social Responsibility (CSR) by the Ministry of Ports, Shipping & Waterways
• India’s current account deficit narrowed to 1.3 billion dollars or 0.2 per cent of GDP in the January-March quarter of last fiscal.
• IIT Bombay has been ranked 1st in India and 149th in world in QS (Quacquarelli Symonds) World University Rankings
• In a significant milestone for women’s Kabaddi, Dubai hosted the world’s first international Women’s Kabaddi final, featuring the Punjab Panthers vs Uma Kolkata.
• The Geographical Indications Registry in Chennai has given tags to 7 different products from Uttar Pradesh (UP) ie Amroha Dholak, Mahoba Gaura Patthar Hastashlip, Mainpuri Tarkashi, Sambhal Horn Craft, Baghpat Home Furnishings, Barabanki Handloom Product, Kalpi Handmade Paper.
• Chief Minister (CM) Shri Himanta Biswa Sarma announced that Assam’s first underwater railroad tunnel will be built between Numaligarh and Gohpur.
• The Uttar Pradesh (UP) government implemented the Legal Aid Defense Counsel System (LADCS) for a period of 2 years under the Uttar Pradesh State Legal Services Authority to provide free legal aid to the needy.
• The Himachal Pradesh (HP) government has decided to set up a special task force to combat the problem of the drug menace.
• 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.
• Federal Bank’s wholesale banking head Harsh Dugar has been elevated as its executive director.
• UN Secretary-General Antonio Guterres appointed Haoliang Xu of China as undersecretary-general and associate administrator of the UN Development Programme (UNDP).
• Piramal Enterprises sold its entire stake of 8.34% in Non-Banking Financial Company (NBFC) major Shriram Finance through a block deal.
• Every year, National Statistics Day is celebrated on June 29 in India.