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CURRENT AFFAIRS : BANKING & FINANCE
Moody’s Projects India’s GDP Growth at 6-6.3% in Q1FY24
- The global credit ratings major Moody projected that the Indian economy is expected to clock a 6-6.3% growth in June quarter, and flagged risks of fiscal slippage arising from weaker than expected government revenues in the current fiscal.
- Moody’s growth estimate is lower than the 8% projection for the first quarter made by the Reserve Bank of India (RBI) last week.
Key Highlights :
- India has a relatively high level of general government debt at around 81.8% of GDP for 2022-23, and low debt affordability.
- Gross Fixed Capital Formation (GFCF) is an indicator of investment in the economy.
- The fiscal deficit, which is the difference between government expenditure and revenue, narrowed to 6.4% of GDP in 2022-23 from 6.7% in 2021-22.
- In the current fiscal, the deficit is budgeted to come in lower at 5.9% of GDP.
- For the full 2023-24 and 2024-25 fiscals, Moody’s projects economic growth at 6.1% and 6.3%, respectively.
- On a calendar year basis, Moody’s expects growth to be 5.5% in 2023, which could improve to 6.5% in 2024.
- In its monetary policy, the RBI projected India’s GDP to expand by 6.5% in the current fiscal, on the back of supportive domestic demand conditions.
- The RBI projected June quarter (Q1) growth at 8%, Q2 at 6.5%, Q3 at 6%, and Q4 at 5.7%.
- Moody’s has a ‘Baa3’ sovereign credit rating on India, with a stable outlook.
- Baa3 is the lowest investment grade rating.
- India has a relatively high level of general government debt, estimated at around 81.8% of GDP for fiscal 2022-23, compared with the Baa-rated median of around 56%.
- India also has low debt affordability, in terms of general government interest payments as a percentage of revenues, which for India is estimated at 26% for fiscal 2022-23, compared with the Baa median of around 8.4%.
Go Digit-Life Insurance gets IRDAI approval for life insurance business in India
- India’s insurance regulator, the Insurance Regulatory and Development Authority of India (IRDAI), grants a license to conduct life insurance business in India to Go Digit Life Insurance Limited.
- This came after Securities and Exchange Board of India (SEBI) returned Go Digit’s draft IPO (Initial Public Offering) papers on January 30, 2023 & asked the company to refile the documents with certain updates.
- The approval to Go Digit will be the 4th life insurance business licence issued by IRDAI this year.
- With the latest addition, the number of insurers operating in the life insurance segment has gone up to 26.
About Go Digit General Insurance Ltd :
- Go Digit General Insurance Ltd, funded by Fairfax Group in Canada, has refiled preliminary Initial Public Offering (IPO) papers with Securities and Exchange Board of India (SEBI) after modifying its employee equity appreciation rights programme.
- Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, and other insurance products, to meet the needs of the customers.
- It is one of the first non-life insurers in India to be fully operated on the cloud and has developed application programming interface (API) integrations with several channel partners.
About IRDAI :
- Established : 1999
- Headquarters : Hyderabad, Telangana
- Chairperson : Debasish Panda
- The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance industries in India.
SIDBI launched mission EVOLVE in Partnership with NITI Aayog & World Bank to finance EV MSMEs
- The principal financial institution for Micro Small & Medium Enterprises (MSMEs) in India, the Small Industries Development Bank of India (SIDBI) has launched mission EVOLVE (Electric Vehicle Operations and Lending for Vibrant Ecosystem) in association with National Institution for Transforming India (NITI) Aayog, World Bank, Korean-World Bank and Korean Economic Development Cooperation Fund (EDCF) to finance MSMEs in the Electric Vehicles (EV) space.
- Under the initiative, SIDBI will give MSMEs access to affordable commercial financing for EV loans including hosting of telematics that could help reduce financing costs and provide data for other financial services.
Key Highlights :
- The programme comes in the backdrop of SIDBI’s aim to support India’s target for 30% EV penetration by 2030 or EV30@30.
- Significantly, SIDBI had announced a pilot scheme Mission 50,000-EV4ECO in April, 2023 under guidance from NITI Aayog to fund MSMEs finding it difficult to access loans to purchase EVs for their day-to-day operations and commercial use.
- The mission aims to finance 50,000 EVs.
- According to the Society of Manufacturers of Electric Vehicles (SMEV), EV sales had surpassed the 1 million mark in India in the financial year 2022-23 with 11,52,021 units sold, up 58% from 7,26,861 units sold in FY22.
- Two-wheelers had the highest share of 62% with 7,26,976 units sold in FY23.
About SIDBI :
- Established : 2 April 1990
- Headquarters : Lucknow, Uttar Pradesh, India
- Chairman & MD : Sivasubramanian Ramann
- SIDBI is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India.
- It is under the jurisdiction of the Ministry of Finance (MoF) , Government of India (GoI).
ESAF Small Finance Bank adopts paperless initiative
- ESAF Small Finance Bank, a leading small finance bank in India, has adopted e-signature for micro-loan disbursals.
- As on March 31,2023 ESAF Bank has disbursed over 5.27 lakh loans through e-signatures, showcasing its commitment to digital transformation.
- Through the adoption of e-signatures, ESAF Bank has effectively saved reams of paper, which would have been utilised for the purpose of loan disbursement, documentation involving handwritten signatures, thereby reducing deforestation.
- The Small Finance Bank has also implemented an office automation tool.
- This tool automates and digitises all internal office notes sent for approval.
- The branch operations department of the bank has devised a process to discontinue the printing of 8 mandatory reports at branch locations.
- In May 2023, ESAF Small Finance Bank recorded a 452% increase in net profit to Rs 302.33 crore in FY23.
About ESAF Small Finance Bank :
- Founded : 10 March 2017
- Headquarters : Thrissur, Kerala
- MD & CEO : K. Paul Thomas
- Tagline : Joy of Banking
UPI records 9 billion transactions in May worth Rs 14.3 trillion
- According to the data released by the National Payments Corporation of India (NPCI),the governing body of Unified Payment Interface (UPI) – India’s prominent digital payment network 9 billion transactions have been made through UPI in May, 2023.
- The overall value of the UPI transactions stood at ₹14.89 lakh crore with an increase of 43% on a year-over-year basis.
Key Highlights :
- 8.89 billion UPI Transactions were recorded in April,2023 while transactions in March,2023 were 8.68 billion.
- In FY 2022-23, the UPI payment system processed a total of 83 billion transactions, amounting to a value of 139 lakh crore rupees.
- According to the report by PwC India titled ‘The Indian Payments Handbook – 2022-27’, it is projected that UPI will achieve a groundbreaking milestone of 1 billion daily transactions by 2026-27.
- With a compounded annual growth rate (CAGR) of 50%, the total number of online transactions is projected to surge from 103 billion in FY 2022-23 to 411 billion in FY 2026-27.
- In 2022-23, UPI accounted for about 75% of the total transaction volume in the retail segment.
What is UPI?
- Unified Payments Interface (UPI) is one of the globally accepted payment systems and has emerged as a trusted payment mode ever since its launch in 2016.
- UPI is an instant payment system.
- It has been developed by National Payments Corporation of India (NPCI).
- It makes the possible instant transfer of money between any two individuals’ bank accounts.
RBI Imposes Rs 2.2 Crore Penalty On Indian Overseas Bank
- The Reserve Bank of India (RBI) has imposed a penalty of Rs 2.20 crores on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance.
- This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
Key Highlights :
- The violated norms include guidelines on disclosure of NPA (non-performing assets) divergence, interest rates on deposits, and advisory on Man in the Middle (MiTM) attacks in Automated Teller Machines (ATMs).
- The Statutory Inspection for Supervisory Evaluation with respect to the Indian Overseas Bank’s financial position as on March 2021 was carried out by RBI.
- In some instances, Indian Overseas Bank offered interest on deposits at rates applicable to senior/super senior citizens.
- Besides, the bank failed to implement control measures for ATMs relating to end-to-end encryption of communication between the ATM terminal/PC and the ATM Switch, within the timelines prescribed.
What is a man-in-the-middle (MiTM) attack?
- A man-in-the-middle (MITM) attack is a cyber attack in which a threat actor puts themselves in the middle of two parties, typically a user and an application, to intercept their communications and data exchanges and use them for malicious purposes like making unauthorised purchases or hacking.
- The main objective behind these attacks is to steal financial information by intercepting a user’s traffic to a banking or financial website.
About RBI :
- Established : 1 April 1935
- Headquarters : Mumbai, Maharashtra, India
- Governor : Shaktikanta Das (First Governor of RBI- Sir Osborne Smith)
- Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar
About IOB :
- Founded : 1937
- Headquarters : Chennai, Tamil Nadu
- MD & CEO : Ajay Kumar Srivastava
- Tagline : Good people to grow with
CURRENT AFFAIRS: NATIONAL NEWS
Government releases ₹1.2 trillion as third tranche of tax devolution to states
- The Union Government has released the 3rd instalment of tax devolution to State Governments amounting to ₹1,18,280 crore, as against the normal monthly devolution of ₹59,140 crore.
- One advance instalment in addition to the regular instalment due in June 2023 is being released to States to enable them to speed up capital spending, finance their development/welfare-related expenditure, and make available resources for priority projects/ schemes.
State-wise distribution of Net Proceeds of Union Taxes and Duties for June 2023
| Sl. No | Name of State | Total (₹ Crore) |
| 1 | ANDHRA PRADESH | 4787 |
| 2 | ARUNACHAL PRADESH | 2078 |
| 3 | ASSAM | 3700 |
| 4 | BIHAR | 11897 |
| 5 | CHHATTISGARH | 4030 |
| 6 | GOA | 457 |
| 7 | GUJARAT | 4114 |
| 8 | HARYANA | 1293 |
| 9 | HIMACHAL PRADESH | 982 |
| 10 | JHARKHAND | 3912 |
| 11 | KARNATAKA | 4314 |
| 12 | KERALA | 2277 |
| 13 | MADHYA PRADESH | 9285 |
| 14 | MAHARASHTRA | 7472 |
| 15 | MANIPUR | 847 |
| 16 | MEGHALAYA | 907 |
| 17 | MIZORAM | 591 |
| 18 | NAGALAND | 673 |
| 19 | ODISHA | 5356 |
| 20 | PUNJAB | 2137 |
| 21 | RAJASTHAN | 7128 |
| 22 | SIKKIM | 459 |
| 23 | TAMIL NADU | 4825 |
| 24 | TELANGANA | 2486 |
| 25 | TRIPURA | 837 |
| 26 | UTTAR PRADESH | 21218 |
| 27 | UTTARAKHAND | 1322 |
| 28 | WEST BENGAL | 8898 |
| Grand Total | 118280 |
PM chairs high level meeting to review preparedness on Cyclone ‘Biparjoy’
- Prime Minister Narendra Modi chaired a high-level meeting to review the preparedness of Ministries and Agencies of the Centre as well as Gujarat to deal with the situation arising out of the impending Cyclone ‘Biparjoy’.
- Modi directed senior officers to take every possible measure to ensure that people living in vulnerable locations are safely evacuated by the State government.
- He also asked them to ensure maintenance of all essential services such as Power, Telecommunications, health, drinking water etc and are restored immediately in the event of damages caused to them.
- The Prime Minister also directed that the safety of animals should also be ensured.
- He further directed for 24X7 functioning of control rooms.
- During the meeting, India Meteorological Department IMD informed that Cyclone Biparjoy is expected to cross Saurashtra and Kutch between Mandvi in Gujarat and Karachi in Pakistan near Jakhau Port of Gujarat by noon of 15th June as a very severe cyclonic storm.
PM Modi inaugurates first-ever National Training Conclave in New Delhi:
- Prime Minister Shri Narendra Modi inaugurated the first-ever National Training Conclave at the International Exhibition and Convention Centre, Pragati Maidan, New Delhi.
- Prime Minister’s address was replete with many anecdotes and stories emanating from his rich political and administrative experience.
- He emphasised the importance of aspects like service orientation of government work, ownership in realising the aspirations of common man, need to break the hierarchy and using the experience of every person in the organisation, importance of Jan Bhagidari, the zeal to improve and innovate the system, among other things.
- The training modules should be oriented and developed such that these aspects are inculcated in government officials.
- Karmayogi Mission seeks to improve the orientation, mindset and approach of the government personnel so that they feel content and happy, and as a by-product of this improvement, the governance system will improve organically
Second summit of Supreme Audit Institutions of G20 countries to begin in Goa
- The second summit of the Supreme Audit Institutions (SAIs) of the G20 countries will begin in Panaji, the Capital of Goa.
- The Comptroller and Auditor General (CAG) of India, Girish Chandra Murmu will deliver the inaugural address at the summit this morning.
- Later, he will lead the deliberations on the two priority areas – Blue Economy and Responsible Artificial Intelligence.
- Governor of Goa, P. S. Sreedharan Pillai, and India’s G20 Sherpa, Amitabh Kant will also address the meeting.
- AIR correspondent reports, the three-day summit will see the participation of the Supreme Audit Institutions (SAIs) of Australia, Brazil, Indonesia, South Korea, Russia, Saudi Arabia, Türkiye, Bangladesh, Egypt, Mauritius, Nigeria, Oman, Spain, the UAE, Morocco, and Poland.
- Over 80 national and international delegates, Think20, and Youth20 Engagement Groups will also attend the meeting.
- The CAG of India is expected to highlight the crucial role the SAIs can play in the audit of the Blue Economy and Responsible Artificial Intelligence (AI) to ensure good governance, transparency, and accountability, and to optimise their positive impact on humankind.
- Blue Economy focuses on conserving and using oceans, seas, and marine resources for sustainable development.
- The AI enables the detection of fraud, automates redundant auditing, and identifies high-risk transactions.
- On the sidelines of the summit, the CAG is expected to sign Memoranda of Understanding for strengthening cooperation and knowledge sharing with the SAIs of Indonesia and Turkiye.
About CAG:
- The Comptroller and Auditor General of India is the supreme audit institution of India, established under Article 148 of the Constitution of India.
- Founded: 1858
- HQ: New Delhi
CURRENT AFFAIRS: MOUS AND AGREEMENT
Department of Ex-Servicemen Welfare signs an MoU with private sector to generate employment
- A Memorandum of Understanding (MoU) was signed between Directorate General Resettlement (DGR) under Department of Ex-Servicemen Welfare, Ministry of Defence and M/s Kotak Mahindra Life Insurance Company Limited in New Delhi.
- The MoU between DGR and Corporates endeavours to bring the corporate companies and Ex-Servicemen on a common platform to generate employment opportunities for the esteemed Ex-Servicemen of the Defence Services.
- Maj Gen Sharad Kapur, Director General (Resettlement) said, “This partnership would bring in more visibility of our Ex-servicemen to the industry and corporates and help in achieving the objectives of providing skilled manpower and giving a dignified second career to our Ex-servicemen”.
CURRENT AFFAIRS : STATE NEWS
Madhya Pradesh government to legalise more than 6000 illegal colonies
- Government of Madhya Pradesh (MP) has announced to legalize more than 6000 illegal colonies in
- The MP government announced regularisation of all unauthorised colonies developed till December 31, 2022, in a major decision ahead of the assembly elections in MP.
- He also announced that basic facilities including roads, electricity, water, drainage will be provided by the civic bodies and panchayats in these colonies.
- The residents of these colonies will not even be charged the amount of development fee.
- The MP Chief Minister (CM) Shivraj Singh Chouhan also announced that food will be provided to the poor and labourers in urban areas for 5 rupees.
About MP :
- Governor : Mangubhai C. Patel
- Chief Minister : Shivraj Singh Chouhan
- Capital : Bhopal
- National Park : Satpura National Park, Kanha National Park,Bandhavgarh National Park
- Wildlife Sanctuary : Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Kerala-cadre IPS officer Nitin Agarwal appointed as Director General of Border Security Force
- Nitin Agarwal, an Indian Police Service (IPS) officer of the 1989 Kerala cadre, has been appointed as the new director general (DG) of the Border Security Force (BSF).
- The appointment of Agarwal came on a day the BSF began its bi-annual four-day border talks with its Bangladeshi counterpart Border Guard Bangladesh (BGB) in
- The position of BSF chief had remained vacant for over 5 months since the retirement of Pankaj Kumar Singh on December 31, 2022.
- For the past 5 months, the additional charge of the BSF has been held by Sujoy Lal Thaosen, the DG of the Central Reserve Police Force (CRPF).
About Nitin Agarwal :
- He attained the rank of Additional Director General (ADG) in 2014 while serving with the Indo-Tibetan Border Police (ITBP).
- Throughout his career, he has held various notable positions, including IG Training at ITBP, IG Sashastra Seema Bal, and ADG-Police with Kerala Police.
- Currently he holds the position of Additional Director General of Operations at the Central Reserve Police Force (CRPF).
About BSF :
- The BSF is India’s leading security agency responsible for safeguarding the 4,096-kilometre-long international borders with Pakistan and Bangladesh.
- It is one of the seven Central Armed Police Forces (CAPF) of India, and was raised in the wake of the Indo-Pakistani War of 1965 “for ensuring the security of the borders of India and for related matters”.
- It is the only CAPF to have a navy, air wing and an artillery regiment.
- It is under the control of the Ministry of Home Affairs.
Argentina’s Celeste Saulo appointed as 1st female Secretary-General of World Meteorological Organization
- Celeste Saulo of Argentina has been appointed as the first female Secretary-General (SG) of the World Meteorological Organization (WMO).
- She will take office on 1 January 2024 and succeeds Prof Petteri Taalas, who has completed his two-term mandate.
- Saulo was appointed after receiving the requisite two thirds majority of votes from delegates at the quadrennial World Meteorological Congress, the top decision-making body of the 193-Member WMO.
- The leadership election of the World Meteorological Congress takes place every 4 years.
About Celeste Saulo :
- Celeste Saulo was born on 6 May 1964 in Buenos Aires, Argentina.
- She is an Argentine meteorologist and educator.
- She has served as director of the Servicio Meteorológico Nacional (SMN) since 8 July 2014.
- She has served as the first vice president of the World Meteorological Organization (WMO) since 24 April 2018.
- Currently, she is the First Vice-President of WMO.
About WMO :
- Established : 23 March 1950
- Headquarters : Geneva, Switzerland
- Secretary General : Celeste Saulo
- The WMO is a specialized agency of the United Nations (UN) responsible for promoting international cooperation on atmospheric science, climatology, hydrology and geophysics.
PESB recommends Sanjay Swarup to be the next Chairman & Managing Director of CONCOR
- The Public Enterprises Selection Board (PESB) panel has recommended Sanjay Swarup to be next Chairman & Managing Director (CMD) of Container Corporation of India (CONCOR), a Public Sector Undertaking (PSU) under the Ministry of Railways.
- As CMD of CONCOR, Swarup will be Chief Executive of the company.
- He will be accountable to the Board of Directors and Government.
- He will also be responsible for the efficient functioning of the corporation, and for achieving its corporate objectives and performance parameters.
- Currently, he is serving as Director (International Marketing & Operations) in the same organisation.
About CONCOR :
- Founded : March 1988 (Started Operations – November 1989)
- Headquarters : New Delhi, Delhi, India
- Chairman & MD : V Kalyana Rama
- The CONCOR is engaged in transportation and handling of containers.
Air Marshal Rajesh Kumar Anand VSM takes over as Air Officer-in-Charge Administration (AOA)
- Air Marshal Rajesh Kumar Anand, Vishisht Seva Medal took over as Air Officer-in-Charge Administration (AOA).
Roles & Responsibilities of Air Officer-in-Charge Administration :
- Air Force Officer-in-Charge Administration is responsible for overseeing the administrative functions of the Indian Air Force (IAF).
- It includes the management of human resources, logistics, infrastructure, welfare and other administrative aspects of the organization.
About Air Marshal Rajesh Kumar Anand :
- An alumnus of National Defence Academy, the Air Marshal was commissioned in the Administrative Branch of the Indian Air Force as an Air Traffic Controller on 13 June 1987.
- Prior to his present appointment, he was the Director General (Administration) at Air Headquarters, New Delhi.
Awards & Honors :
- For his distinguished service, he was awarded the Vishisht Seva Medal by the President of India in January 2022
About Ministry of Defence :
- Defence Minister : Rajnath Singh
- Minister of State : Ajay Bhatt
- Defence Secretary : Giridhar Aramane
Sourav Ganguly becomes Brand Ambassador of Tripura Tourism
- Former Indian cricket captain Sourav Ganguly has been appointed as the brand ambassador of Tripura tourism.
- The announcement came after Tripura’s Tourism Minister Sushanta Chowdhury met Ganguly at his residence in Kolkata along with state officials, and discussed the proposal.
- Ganguly’s participation in the campaigns will give impetus to the tourism sector of Tripura.
- Tripura is the 3rd smallest state in India known for its diverse culture, archaeology, handicrafts, and music.
About Sourav Ganguly :
- Sourav Ganguly was born on 8 July 1972 in Kolkata, West Bengal.
- He is an Indian cricket commentator and former cricketer.
- He is popularly called as Maharaja of Indian Cricket.
- From 2019 to 2022 he served as the 35th President of the Board of Control for Cricket in India.
- Ganguly was in charge of the Delhi Capitals as the Director of Cricket in the IPL 2023.
Awards & Honors :
- Ganguly was awarded the fourth highest Indian civilian award, Padma Shri in 2004.
About Tripura :
- Governor : Satyadev Narayan Arya
- Chief Minister : Manik Saha
- Capital : Agartala
- Wildlife Sanctuary : Gumti Wildlife Sanctuary, Rowa Wildlife Sanctuary, Sepahijala Wildlife Sanctuary
CURRENT AFFAIRS : ACQUISITIONS & MERGERS
LIC raises stake in SAIL to 8.6%
- Life Insurance Corporation of India (LIC) has raised its stake in state-owned steel production firm Steel Authority of India Limited (SAIL) by about 2% through an open market acquisition.
- LIC bought 8.26 crore shares or 2.001% of equity capital at an average price of Rs 66.18 per unit.
- Following this, LIC’s holding in SAIL increased from 6.68% to 8.68%.
- LIC bought the additional shares between October 14, 2022 and June 8, 2023 for about Rs 547 crore.
About LIC :
- Established : 1 September 1956
- Headquarters : Mumbai, Maharashtra, India
- Chairman : Siddharth Mohanty
About SAIL :
- Founded : 19 January 1954
- Headquarters : New Delhi, Delhi, India
- Chairman : Amarendu Prakash
- SAIL is a central public sector undertaking under the ownership of the Ministry of Steel, Government of India.
CURRENT AFFAIRS: SPORTS NEWS
Novak Djokovic reaches record 23 grand slam titles after French Open final win
- In Tennis, Serbian Novak Djokovic created history by becoming the first man to reach the coveted 23 grand slam title mark with his straight sets win over Casper Ruud in the men’s singles final of the French Open 2023 in Paris.
- This was the Serb’s 3rd title on Parisian clay as he goes past rival Rafael Nadal as the man with the most number of major honours in the history of the game.
- The world no.3 ranked Serb breezed past his opponent 7-6, 6-3, 7-5 to claim his third French Open title and 23rd grand slam title overall.
- With this victory, the three-time French Open winner will reclaim the 1 spot from Carlos Alcaraz in the ATP Rankings.
- He surpassed Rafael Nadal as the oldest Roland Garros champion at the age of 36 years and 20 days and with this victory, he became the first man to win all four Grand Slam events at least three times.
India beat Argentina 2-1 in final match at Eindhoven in Netherlands: FIH
- In Hockey, India beat Argentina 2-1 in its final FIH Pro League 2022-23 match in Eindhoven, the Netherlands.
- Akashdeep Singh and Sukhjeet Singh scored goals for India while Lucas Toscani netted the only goal for Argentina.
- With this victory, India consolidated their position atop the FIH Pro League standings with 30 points from 16 matches.
- Argentina are fifth with 13 points from 14 matches.
- India now holds a four-point advantage over second-placed Great Britain in the FIH Pro League 2022-23 standings but the European team has four games to go.
- The Indian men’s hockey team finished in fourth place in their debut FIH Pro League campaign back in 2020-21.
- Their best finish in the competition, third, came in the 2021-22 season.
India won Women’s Junior Hockey Asia Cup 2023
- India defeated four-time champions South Korea 2-1 to win their first Women’s Junior Hockey Asia Cup in Kakamigahara, Japan.
- After a scoreless first quarter, India got things moving with Annu’s penalty corner goal in the 22nd minute.
- South Korea equalised three minutes later, with Park Seo Yeon scoring.
- In the 41st minute, however, Neelum shot strongly to the bottom right of the South Korean custodian to make it 2-1.
- To secure the deal, the Indian defence held on to a slim lead in the third quarter.
About FIH
- Headquarters: Lausanne, Switzerland
- Founder: Paul Léautey
- Founded: 7 January 1924, Paris, France
- CEO: Thierry Weil
CURRENT AFFAIRS : OBITUARIES
Malayalam actor and mimicry artist Kollam Sudhi passed away
- Malayalam actor and mimicry artist Kollam Sudhi passed away at the age of 39 in Kerala.
About Kollam Sudhi :
- Sudhidas was born on 01st January 1984 in Kollam, Kerala, India.
- He was an Indian comedian, actor, and impressionist who worked in Malayalam television, stage, and cinema.
- He starred in more than 40 Malayalam films.
- He is best known for being a regular cast member of the comedy show Star Magic on Flowers.
- He made his film debut in the 2015 movie “Kanthari”.
- His most notable roles were in Kattappanayile Rithwik Roshan and Kuttanadan Marpappa.
CURRENT AFFAIRS: IMPORTANT DAYS
International Albinism Awareness Day- June 13
- International Albinism Awareness Day is observed on June 13 each year around the globe
- On December 18, 2014, the General Assembly passed a resolution designating June 13, 2015, as International Albinism Awareness Day.
- On March 26, 2015, the Council established the position of Independent Expert on the enjoyment of human rights by persons with albinism in response to a call from civil society organizations that argued that people with albinism should be treated as a distinct group with unique needs that call for special attention.
Daily CA One- Liner: June 13
- The global credit ratings major Moody projected that the Indian economy is expected to clock a 6-6.3% growth in June quarter, and flagged risks of fiscal slippage arising from weaker than expected government revenues in the current fiscal.
- The India’s insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI), grants license to conduct life insurance business in India to Go Digit Life Insurance Limited.
- Small Industries Development Bank of India (SIDBI) has launched mission EVOLVE (Electric Vehicle Operations and Lending for Vibrant Ecosystem) in association with National Institution for Transforming India (NITI) Aayog, World Bank, Korean-World Bank and Korean Economic Development Cooperation Fund (EDCF) to finance MSMEs in the Electric Vehicles (EV) space.
- ESAF Small Finance Bank, a leading small finance bank in India, has adopted e-signature for micro-loan disbursals.
- According to the data released by the National Payments Corporation of India (NPCI),the governing body of Unified Payment Interface (UPI) – India’s prominent digital payment network 9 billion transactions have been made through UPI in May, 2023.
- The Reserve Bank of India (RBI) has imposed a penalty of Rs 2.20 crore on state-owned Indian Overseas Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance.
- The Union Government has released 3rd instalment of tax devolution to State Governments amounting to ₹1,18,280 crore, as against the normal monthly devolution of ₹59,140 crore
- Prime Minister Narendra Modi chaired a high-level meeting to review the preparedness of Ministries and Agencies of the Centre as well as Gujarat to deal with the situation arising out of the impending Cyclone ‘Biparjoy’
- Prime Minister Shri Narendra Modi inaugurated the first-ever National Training Conclave at the International Exhibition and Convention Centre, Pragati Maidan, New Delhi
- The second summit of the Supreme Audit Institutions (SAIs) of the G20 countries will begin in Panaji, the Capital of Goa
- A Memorandum of Understanding (MoU) was signed between Directorate General Resettlement (DGR) under Department of Ex-Servicemen Welfare, Ministry of Defence and M/s Kotak Mahindra Life Insurance Company Limited in New Delhi
- In Tennis, Serbian Novak Djokovic created history by becoming the first man to reach the coveted 23 grand slam title mark with his straight sets win over Casper Ruud in the men’s singles final of the French Open 2023 in Paris
- In Hockey, India beat Argentina 2-1 in its final FIH Pro League 2022-23 match in Eindhoven, the Netherlands
- India defeated four-time champions South Korea 2-1 to win their first Women’s Junior Hockey Asia Cup in Kakamigahara, Japan
- Government of Madhya Pradesh (MP) has announced to legalize more than 6000 illegal colonies in
- Nitin Agarwal, an Indian Police Service (IPS) officer of the 1989 Kerala cadre, has been appointed as the new director general (DG) of the Border Security Force (BSF).
- Celeste Saulo of Argentina has been appointed as the first female Secretary-General (SG) of the World Meteorological Organization (WMO).
- The Public Enterprises Selection Board (PESB) panel has recommended Sanjay Swarup to be next Chairman & Managing Director (CMD) of Container Corporation of India (CONCOR), a Public Sector Undertaking (PSU) under the Ministry of Railways.
- Air Marshal Rajesh Kumar Anand, Vishisht Seva Medal took over as Air Officer-in-Charge Administration (AOA).
- Former Indian cricket captain Sourav Ganguly has been appointed as the brand ambassador of Tripura tourism.
- Life Insurance Corporation of India (LIC) has raised its stake in state-owned steel production firm Steel Authority of India Limited (SAIL) by about 2% through an open market acquisition.
- Malayalam actor and mimicry artist Kollam Sudhi passed away at the age of 39 in Kerala.
- International Albinism Awareness Day is observed on June 13 each year around the globe.