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CURRENT AFFAIRS : BANKING & FINANCE
RBI Imposes Rs 60.20 lakhs penalty on Bihar State Co-operative Bank Limited for various short comings
- The Reserve Bank of India (RBI) has imposed a penalty of Rs 60.20 lakhs on The Bihar State Co-operative Bank Limited, Patna, for a slew of shortcomings and violations.
Reason :
- A statutory inspection of the Patna-based bank by the National Bank For Agriculture And Rural Development (NABARD) after FY20 revealed that it failed to put in robust software for identifying and reporting suspicious transactions and submit statutory returns within prescribed timelines.
- It also failed to submit off-site surveillance system returns within prescribed timelines, submit data to all the 4 credit information companies and also constitute a customer service committee of the board, among other things.
Other Monetary Penalties :
- The RBI also announced a monetary penalty of Rs 6 lakh on Jowai Cooperative Urban Bank Limited, Meghalaya for deficiencies in regulatory compliance.
- Telangana State Cooperative Apex Bank Limited, Hyderabad has been penalised Rs 2 lakh for failing to transfer eligible amounts to the Depositor Education and Awareness Fund within the prescribed period in FY20.
- RBI also imposed a monetary penalty of Rs 10 lakh on The Co-operative Bank of Rajkot Ltd, Rajkot (Gujarat) for contravention of directions on ‘Reporting of unauthorised transactions by customers to banks’, ‘Names as Appearing in the Certificate of Registration and the Licence – Use of – Primary (Urban) Co-operative Banks (UCBs)’ and ‘Frauds in UCBs: Changes in Monitoring and Reporting mechanism.
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
ADB & Government of India sign $130 million loan agreement to promote horticulture in Himachal Pradesh
- The Government of India (GoI) and the Asian Development Bank (ADB) have signed a USD 130 million loan agreement for the Himachal Pradesh subtropical horticulture, irrigation and value addition project to increase agricultural productivity, improve access to irrigation and promote horticulture agribusinesses to raise farmers income in Himachal Pradesh (HP), India.
- The signatories to the project were Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, for the Indian government and Takeo Konishi, Country Director of ADB’s India resident mission.
About the Project :
- The project builds upon a pilot financed by ADB’s project readiness facility which demonstrated the subtropical horticulture production of over 200 hectares and prepared the draft water user association (WUA) act and the draft state horticulture development strategy.
- The project interventions will help increase the income and resilience to the effects of climate change of at least 15,000 farm households across 7 districts of HP namely Bilaspur, Hamirpur, Kangra, Mandi, Sirmour, Solan and Una.
- It will improve on-farm irrigation and water management in about 6,000 hectares of farmland by rehabilitating or building new irrigation schemes and strengthening the capacity of WUAs for micro-irrigation management through joint efforts from the states Jal Shakti Vibhag (Water Resources Department) and Department of Horticulture (DOH).
- The project will also help create an ecosystem to enhance farmers’ access to markets of subtropical horticulture, adding, the farmers will be organised into cluster-wide community horticulture production and marketing associations (CHPMAs) & district-wide CHPMA cooperative societies.
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
About ADB :
- Established : 1966
- Headquarters : Mandaluyong, Philippines
- President : Masatsugu Asakawa
- Membership : 68 Countries
NSE shifts Bank Nifty settlement from Thursday to Friday
- The settlement of derivative contracts on Bank Nifty has been shifted by the National Stock Exchange (NSE) from Thursday to Friday.
- The change will be effective from July 14 2023.
Key Highlights :
- As per the NSE circular, the first Friday expiry will be on July 14, 2023.
- All existing contracts with Thursday expiry will be revised to Friday on July 6,2023
- In Earlier 2023, BSE changed the lot size and expiry day of monthly, weekly, and long-dated futures and options contracts on Bankex and Sensex indices & the changes became effective from May 15.
- The lot size for futures and options contracts of Sensex has been reduced from 15 to 10.
- The lot size for futures and options contracts of the Bankex index has been changed from 20 to 15.
- Futures and options on Nifty 50, Nifty IT, Nifty Midcap 50, Nifty Infrastructure, Nifty CPSE, Nifty PSE, and individual stocks will expire on the last Thursday of the expiry month.
- Contracts on the Nifty Financial Services index will expire on last Tuesday.
- Contracts on the Nifty Midcap Select Index will expire on the last Wednesday.
- BSE Bankex index consists of 10 stocks & NSE’s Bank Nifty consists of 12 stocks – 9 constituting bank stocks are common between them.
What is Bank Nifty?
- Nifty Bank, or Bank Nifty, is an index of the most liquid and large capitalised Indian banking stocks.
- It provides investors with a benchmark that captures the capital market performance of Indian bank stocks.
- The index has 12 stocks from the banking sector.
- The top stocks of the index include HDFC Bank Ltd. 31.61%, ICICI Bank Ltd. 18.20%, Axis Bank Ltd. 13.02%, Kotak Mahindra Bank Ltd. 12.74% and State Bank of India 10.92%
About NSE :
- Founded : 1992
- Headquarters : Mumbai, Maharashtra
- MD & CEO : Ashishkumar Chauha
CURRENT AFFAIRS: NATIONAL NEWS
Nitin Gadkari lays foundation stone of 10 National Highway projects worth more than Rs. 8415 crores in UP:
- Union Minister for Road Transport and Highways Nitin Gadkari laid the foundation stone of 10 national highway projects worth more than Rs.8415 crores in Uttar Pradesh.
- The Minister mentioned that under the leadership of Prime Minister Narendra Modi, the Government is committed to creating a new path of progress through national highways in Uttar Pradesh.
- Five national highway projects worth 2,200 crore rupees are in the Pratapgarh region while five projects worth 6,215 crore rupees are in the Deoria Region of State.
- Chief Minister of Uttar Pradesh Yogi Adityanath was also present on the occasion.
- Gadkari said that with the widening of 43 km of National Highway 330 from Pratapgarh to Sultanpur being constructed at a cost of 1290 crore rupees, the travel time from Prayagraj to Pratapgarh via Ayodhya will be reduced.
- He informed that the work of construction of the proposed 14 km bypass in Pratapgarh at a cost of 309 crore rupees will also begin soon.
- The Minister said road safety work will be done on National Highway 31 at a cost of 27 crore rupees for street lights and bus shelters among others.
- Construction of a 22 km, 4-lane bypass at a cost of 1750 crore rupees in Deoria will be awarded in August 2023.
Indian Drugs Controller approves first indigenously developed animal-derived tissue engineering scaffold:
- The first indigenously developed tissue engineering scaffold from mammalian organs, an animal-derived Class D Biomedical Device that can rapidly heal skin wounds at low cost with minimum scarring, has received approval from the Indian Drugs Controller.
- With this, the Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), an autonomous institution of the Department of Science and Technology (DST), became the first institution in the country to develop Class D medical devices that satisfy all statutory requirements of the Central Drugs Standard Control Organisation, Government of India.
- The concept of using animal-derived materials as advanced wound care products is not new.
- However, indigenous technology was so far not available for fabricating quality products that satisfy the requirements of the Drugs Controller General.
- Therefore, such products were imported making them expensive.
Centre releases tax devolution installment of Rs 1,18,280 crores to states
- The Centre released the third instalment of tax devolution to states amounting to Rs 1,18,280 crores, as against normal monthly devolution of Rs 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 and welfare-related expenditure, and make available resources for priority projects and schemes.
- Uttar Pradesh and Bihar received the maximum instalment of Rs 21,218 crore and Rs 11,897 crore
CURRENT AFFAIRS : INTERNATIONAL NEWS
UAE wins Presidency of World Meteorological Organization
- The United Arab Emirates (UAE) has won the Presidency of the World Meteorological Organization (WMO).
- A meteorologist of the UAE, Dr Abdulla Al Mandous, has been elected as the new President of the WMO.
- Dr Abdulla Al Mandous has been elected for a four-year term from 2023 to 2027.
Key Highlights :
- Dr Abdulla Al Mandous received 95 votes out of the representatives from 193 member states and territories of WMO.
- The election was held during the 19th session of the World Meteorological Congress organised in Geneva, Switzerland from 22nd May to 2nd June, 2023.
- As President, Dr. Al Mandous aims to enhance the resilience of nations to weather and climate-related hazards, promote knowledge-sharing and capacity building, and strengthen service delivery.
- He will also prioritise the development of comprehensive early warning systems and scientific research to address the challenges posed by a changing climate.
- Dr Abdulla Al Mandous will succeed Prof Gerhard Adrian of the German Meteorological Service, as WMO President from June 2019.
- UAE will chair WMO’s upcoming 77th Executive Council Session (EC-77) in Geneva, Switzerland from 5th to 6th June, 2023.
About UAE :
- President : Mohamed bin Zayed Al Nahyan
- Prime Minister : Mohammed bin Rashid Al Maktoum
- Capital : Abu Dhabi
- Currency : UAE dirham
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.
CURRENT AFFAIRS : STATE NEWS
Kerala Government launched a reward system up to Rs. 2,500 for reporting illegal waste dumping on roads
- The Government of Kerala (local self-government (LSG) department) has launched a new scheme to reward for reporting illegal waste dumping on roads.
Aim :
- To make the state garbage-free by 2024.
- This scheme is a part of the ‘Malinya Muktham Nava Keralam’ campaign.
- In this regard, Additional Chief Secretary, Local Self Government Department, Sarada Muraleedharan, issued an order (GO).
Key Highlights :
- The person who informs authorities of such violations will be given Rs 2,500 (maximum) or 25% of the fine imposed on those resorting to illegitimate disposal of garbage.
- Under this scheme, citizens would report about the littering/dumping (solid and liquid waste) in public spaces, private property and water bodies.
- The report must be backed with evidence, including credible photographs or video clips, along with details such as the place and time of the wrongdoing.
About Kerala :
- Governor : Arif Mohammad Khan
- Chief Minister : Pinarayi Vijayan
- Capital : Thiruvananthapuram
- National Park : Eravikulam National Park, Silent Valley National Park
- Wildlife Sanctuary : Chinnar Wildlife Sanctuary, Periyar Wildlife Sanctuary
WBIDC, Amazon and FICCI Join Hands to Boost E-Exports Hatt in West Bengal
- The West Bengal Industrial Development Corporation (WBIDC), Amazon Global Selling and the Federation of Indian Chambers of Commerce & Industry (FICCI) jointly organized an e-Export Hatt at Silpa Sadan in Kolkata, West Bengal (WB).
Objective :
- To enable small businesses and entrepreneurs from West Bengal and to expand their businesses globally through e-commerce exports.
Participants :
- More than 200 potential exporters and Micro Small & Medium Enterprises (MSMEs) from Kolkata, North and South Parganas, Hooghly, Howrah, and other cities and districts in the state participated in the event.
About e-Export Haat :
- The event featured keynote sessions on the e-commerce exports opportunity as well as masterclasses and on-spot registrations on Amazon Global Selling for the attending exporters.
- The masterclasses focused on various aspects of e-commerce exports including cross-border logistics and payments, compliance requirements, insights on global markets and more.
About FICCI :
- Founded : 1927
- Headquarters : New Delhi, Delhi, India
- President : Subhrakant Panda
- FICCI is a non-governmental trade association and advocacy group based in India.
About West Bengal :
- Governor : C. V. Ananda Bose
- Chief Minister : Mamata Banerjee
- Capital : Kolkata
- National Park : Gorumara National Park, Jaldapara National Park, Singalila National Park
- Wildlife Sanctuary : Chapramari Wildlife Sanctuary, Mahananda Wildlife Sanctuary
Karnataka Government Introduces Shakti Scheme – Free Bus Travel For Women And Transgender Persons
- The Congress government in Karnataka has rolled out its first of the five poll guarantees, the ‘Shakti’ scheme, that offers free travel to women and transgender people in government-run buses in Karnataka.
- Chief minister Siddaramaiah, deputy chief minister DK Shivakumar and transport minister Ramalinga Reddy launched the scheme
- They have also issued smart cards to 5 beneficiaries at an event on the steps of the Vidhana Soudha in Bengaluru.
Key Highlights :
- The windscreens of city, ordinary, and express buses run by the state’s 4 road transport corporations (Karnataka State Road Transport Corporation (KSRTC), Bengaluru Metropolitan Transport Corporation (BMTC), North Western Karnataka Road Transport Corporation (NWKRTC), and Kalyana Karnataka Road Transport Corporation (KKRTC)) will have “Free travel for women” labels placed on them.
- The smart cards for free bus travel would be granted after three months.
- Women can apply for the Shakti Smart Card by registering on the SevaSindhu government portal.
- The scheme does not apply to air-conditioned and luxury buses and is limited to travel within Karnataka.
- It also reserves 50% of seats for men in 3 transport corporations
- The free travel service will benefit over 41.8 lakh women passengers every day and would cost the state exchequer an estimated ₹4,051.56 crore annually.
About Karnataka :
- Governor: Thawar Chand Gehlot
- Chief minister: Siddaramaiah
- Capital: Bengaluru
- National Park : Bandipur NP, Kudremukh NP, Bannerghata NPRajiv Gandhi NP
- Wildlife Sanctuaries : B R Hills Wildlife Sanctuary, Cauvery Wildlife Sanctuary, Gudavi Bird Sanctuary, Bhadra Wildlife Sanctuary
- Tiger Reserve : Nagarahole Tiger Reserve, Bhadra Tiger Reserve
- Festival : Hampi, Mahamastakabhisheka (Shravanabelagola)
- Dance : Yakshagana, Dollu Kunitha, Bolak-aat (Bolak Dance)
Sanchi To Become 1st Solar City Of Madhya Pradesh
- The United Nations Educational, Scientific and Cultural Organization (UNESCO) world heritage site, Sanchi located in the Raisen district will soon become the first solar city of Madhya Pradesh (MP).
Key Highlights :
- Sanchi is located on the Tropic of Cancer so it is an ideal place for soaking the sun’s energy.
- In Sanchi, electricity to every household will be provided through solar energy.
- Two solar stations of 5 megawatts (MW) and 3 MW capacity have been established in Sanchi.
- The MP Urja Vikas Nigam is the nodal agency for the implementation of solar projects in Sanchi.
- The state’s corporate social responsibility fund has covered the majority of the cost of constructing the solar city.
- Around 3 million units of energy per year is required for Sanchi town while arrangements are being made to generate 5.6 million units annually.
Note :
- Diu is the first city in India to run completely on solar energy during the day.
- Modhera in Gujarat is India’s first village to run completely on solar energy.
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: BUSINESS NEWS
Government imposes stock limit on wheat till March 2024:
- Government of India has decided to impose stock limits on the Wheat applicable to Traders/Wholesaler, Retailers, Big Chain Retailers and Processors for all States and Union Territories.
- The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2023 has been issued with immediate effect from today i.e. 12th June 2023 and will be applicable until 31st March 2024 for all States and Union Territories.
- Stock limits will be applicable to each entity individually such as Traders/Wholesaler- 3000 MT; Retailer- 10 MT for each of the Retail outlets; Big Chain Retailer- 10 MT for each outlet and 3000 MT at all their depots and Processors- 75% of annual installed capacity.
- Respective legal entities, as above, have to declare the stocks position and update them regularly on the portal (https://evegoils.nic.in/wsp/login) of the Department of Food and Public Distribution and in case the stocks held by them are higher than the prescribed limit then they have to bring the same to the prescribed stock limits within 30 days of issue of this notification.
- The imposition of stock limits on Wheat along with offloading of Wheat and Rice under OMSS are part of the consistent efforts made by the Government to stablize the prices of essential commodities.
- The Department of Food and Public Distribution is closely monitoring the stock position of Wheat and rice to control the prices and ensure easy availability in the country.
Retail inflation in India eases to two-year low at 4.25 pc in May
- India’s retail inflation declined to a 25-month low of 4.25 per cent in May on a favourable base effect and also on account of softening prices of food and fuel items.
- The supply-side measures taken by the government to contain prices of essential food items such as wheat and pulses augurs well for food inflation
- Food Inflation was at 2.91 per cent in May, lower than 3.84 per cent in April.
- The food basket accounts for nearly half of the CPI.
- At 4.25 per cent, retail inflation is the lowest since April 2021 when it was 4.23 per cent.
- This is the fourth straight month when retail inflation has declined and the third month in a row that CPI-based inflation remained within the RBI’s comfort zone of below 6 per cent.
- Inflation based on the CPI stood at 4.7 per cent in April and 7.04 per cent in May 2022.
CURRENT AFFAIRS: AWARDS AND HONOURS
Karnataka Vikas Grameena Bank bags award for Atal Pension Yojana enrollment
- Karnataka Vikas Grameena Bank (KVGB) has bagged the national award for significant enrolment under Atal Pension Yojana (APY) from the Pension Fund Regulatory and Development Authority (PFRDA), New Delhi.
- Shreekant M Bhandiwad, Chairman of KVGB, received the award from Vivek Joshi, Secretary, Department of Financial Services, Government of India, and Deepak Mohanty, Chairman of PFRDA, in New Delhi.
- Bhandiwad took charge as the Chairman in April 2023.
- Bhandiwad said APY is a safety net for workers in the informal sector for getting pre-defined pension after 60 years.
- The bank has enrolled 3,42,852 (cumulative) accounts under APY.
- During 2022-23, the bank enrolled 76,569 accounts against the target of 50,320 and achieved the target well before the time frame.
About PFRDA:
- Founded: 23 August 2003
- Headquarters: New Delhi
- Agency executive: Supratim Bandyopadhyay (Chairperson)
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Centre Appoints Amit Agrawal as CEO of UIDAI & Subodh Kumar Singh as Director General of NTA
- Senior Indian Administrative Service (IAS) officers Amit Agrawal and Subodh Kumar Singh have been appointed as Chief Executive Officer (CEO) of Unique Identification Authority of India (UIDAI) and director general (DG) of the National Testing Agency (NTA), respectively, as part of a bureaucratic reshuffle effected by the Centre.
- Amit Agrawal succeeds Saurabh Garg & Subodh Kumar Singh succeeds Vineet Joshi.
- In addition to the new appointment Agrawal will also serve as the additional secretary in the Ministry of Electronics and Information Technology (MeitY).
- Singh, is currently an additional secretary in the Department of Food and Public Distribution under the Ministry of Consumer Affairs, Food and Public Distribution.
Roles & Responsibilities :
- Agrawal’s appointment is expected to strengthen UIDAI’s capabilities in providing secure and accessible digital identification services to millions of residents across the country.
- As the new DG of NTA, Subodh Kumar Singh, will be responsible for overseeing the conduct of various national-level entrance and eligibility tests.
Other Appointments :
- Richa Sharma, additional secretary in the Ministry of Environment, Forest and Climate Change, has been moved to the Department of Food and Public Distribution to replace Singh.
- Rashmi Chowdhary, additional secretary in the Department of Personnel and Training, has been appointed as secretary in the Central Information Commission.
- Shyam Jagannathan, who is currently posted as development commissioner of the Santa Cruz Exclusive Export Processing Zone, Special Economic Zone, Mumbai, will now be the director general (shipping) in the Ministry of Ports, Shipping and Waterways.
- Senior bureaucrat Sanjeev Kumar Chadha will be additional secretary in the Ministry of Women and Child Development, Vumlunmang Vualnam will be additional secretary in the Department of Economic Affairs and Ramesh Krishnamurthi will be additional secretary in the Ministry of Labour and Employment.
- L S Changsan will be additional secretary in the Department of Health and Family Welfare, R Anand will be additional secretary in the Department of Land Resources and Maninder Kaur Dwivedi will be additional secretary in the Department of Agriculture and Farmers Welfare.
- Dwivedi will also hold the additional charge of managing director in the Small Farmers’ Agri-Business Consortium
- Vipin Kumar, who is joint secretary in the Department of School Education and Literacy, has been appointed as additional secretary in the Department of School Education and Literacy.
- Sunil Kumar Barnwal, who is currently joint secretary in the Ministry of Home Affairs, will be additional secretary in the Department of Higher Education under the Ministry of Education.
- Sanjay Sethi, chairperson of the JawaharLal Nehru Port Trust, Ministry of Ports, Shipping and Waterways, will now be in the rank and pay of additional secretary.
- Krishna Kumar Dwivedi, joint secretary in the Ministry of Skill Development and Entrepreneurship, will be additional secretary in the Ministry of Ports, Shipping and Waterways.
About UIDAI :
- Founded : 28 January 2009
- Headquarters : New Delhi, Delhi
About NTA :
- Established : November 2017
- Parent Organisation : Ministry of Education
- First Director-General : Vineet Joshi
- The NTA is an Indian government agency that has been approved by the Union Council of Ministers to conduct entrance examinations for educational institutions.
CURRENT AFFAIRS : DEFENCE NEWS
12th edition of joint military exercise “Ex Ekuverin” held in Uttarakhand
- The 12th edition of joint military “Exercise Ekuverin” between the Indian Army & the Maldives National Defence Force commenced at Chaubatia, Uttarakhand from June 11 to 24, 2023(14 days long exercise).
- Ekuverin means ‘Friends’, in the Dhivehi language.
Aim :
- To enhance interoperability in Counter Insurgency/ Counter Terrorism Operations under the United Nations (UN) mandate and carry out joint Humanitarian Assistance and Disaster Relief operations.
- The focus of the exercise is to share best practices, enhance coordination and cooperation between both the forces at tactical level.
- Exercise Ekuverin is a bilateral annual exercise conducted alternatively in India and Maldives.
History :
- The Exercise Ekuverin has been conducted since 2009.
- The 11th edition of the exercise was held in Maldives in 2021.
About Maldives :
- President : Ibrahim Mohamed Solih
- Capital : Malé
- Currency : Maldivian rufiyaa
Delivery of 1st ACTCM Barge of the series of LSAM 15 (Yard 125) to Indian Navy at NAD (Karanja), Mumbai
- The first Ammunition Cum Torpedo Cum Missile (ACTCM) Barge of the series LSAM 15 (Yard 125) has been delivered to the Indian Navy (IN) at the Naval Armament Depot (NAD), Karanja, Mumbai, Maharashtra.
- The Contract for construction of 11 ACTCM Barge was concluded with M/s Suryadipta Projects Pvt Ltd, Thane, a Micro Small & Medium Enterprise (MSME), in consonance with “Aatmanirbhar Bharat” initiatives of the Government of India.
Key Highlights :
- The Barge has been built under the classification rules of Indian Register of Shipping (IRS) with a service life of 30 years.
- With all major/auxiliary equipment sourced from indigenous manufacturers, the Barge is proud flag bearer of the “Make in India” initiative of the Ministry of Defence.
- Induction of ACTCM Barges will provide impetus to Operational commitments of IN by facilitating Transportation,
- Embarkation and Disembarkation of articles/ ammunition to IN Ships both alongside jetties and at outer harbours.
About Ministry of Defence :
- Defence Minister : Rajnath Singh
- Minister of State : Ajay Bhatt
- Defence Secretary : Giridhar Aramane
Indian Army signs pact for procurement of ‘tactical LAN radio systems’ Through iDEX
- The Indian Army has signed the second deal under the ‘Make in India’ initiative with Bangalore-based Astrome Technologies Private Limited through Innovations for Defence Excellence (iDEX) to purchase indigenously developed ‘Tactical LAN (Local area network) Radio’.
- The contract was signed in presence of Lieutenant General MV Suchindra Kumar, the Vice Chief of Army Staff at New Delhi, Delhi.
About tactical LAN radio :
- The “tactical LAN radio” is a state-of-the-art high-bandwidth backhaul wireless radio equipment for the provisioning of reliable communication.
- The solution provides a long-range point-to-multipoint high-bandwidth communication with an expanded communication range with an inbuilt frequency hopping system to prevent the possibility of interception.
- Improved safety safeguards are also incorporated into the system, which can run flawlessly for 48 hours on a single set basis without any breakdown.
Key Highlights :
- Currently, 42 projects of the Army in total are part of the Defence India Startup Challenge (DISC), Open Challenges and iDEX PRIME scheme, which entails assisting 41 companies in developing cutting-edge state-of-the-art solutions for difficulties faced by the Army.
- The Indian Army has nominated a dedicated nodal officer and a category ‘A’ establishment as ‘Centre of Excellence’ for each challenge in order to provide hands-on assistance and constant support for the advancement of the projects.
- The Indian Army’s iDEX projects that received a balance “Acceptance of Necessity” are also being finalised and will most likely result in contracts soon.
About iDEX :
- The iDEX was launched by Prime Minister Shri Narendra Modi in April 2018.
Aim :
- To create an ecosystem to foster innovations and encourage technological development in the defence and aerospace sector.
- iDEX will be funded and managed by a ‘Defence Innovation Organization (DIO)’.
About Indian Army :
- Headquarters : New Delhi, Delhi
- Chief of Defence Staff : General Anil Chauhan
- Chief of the Army Staff : General Manoj Pande
About Astrome Technologies Private Limited :
- Established : 20 May 2015
- Headquarters : Bangalore, Karnataka
- Chairman : Horabailu Laxminarayana Prasad
- CEO : Neha Satak
CURRENT AFFAIRS : ACQUISITIONS & MERGERS
Canada Pension Plan Investment Board sells 1.77% stake in Kotak Mahindra Bank
- Canada Pension Plan Investment Board (CPPIB) sold a 1.7% stake in private sector lender Kotak Mahindra Bank Limited (KMBL).
- The pension major sold a total of 33 million shares at Rs 1,856 apiece to mop up Rs 6,123.6 crore.
- The sale of shares by the pension fund was done in two block deals.
- Around 2.2 crore shares were sold at ₹1,855 each, while another block of 1.09 crore shares were traded at ₹1,864.15.
- In March 2022, CPPIB had sold 2.02% stake in the bank at Rs 1,699 per share.
About KMBL :
- Founded : 1985
- Headquarters : Mumbai, Maharashtra, India
- MD & CEO : Uday Kotak
About CPPIB :
- Founded : December 31, 1997
- Headquarters : Toronto, Ontario, Canada
- CEO : John Graham
CURRENT AFFAIRS: SPORTS NEWS
IOA announces 4th July as date for Impending Wrestling Federation of India elections
- Indian Olympic Association (IOA) announced that the impending Wrestling Federation of India (WFI) elections will be held on the 4th of July.
- It also announced that former Jammu and Kashmir High Court Chief Justice Mahesh Mittal Kumar has been appointed as returning officer for the elections.
- IOA had formed an ad hoc committee on the directions of the Sports Ministry to run the day-to-day affairs of the Federation after top wrestlers staged a protest against outgoing WFI chief Brij Bhushan Sharan Singh accusing him of sexual harassment.
About IOA:
- President: P. T. Usha
- Founded: 1927
- Headquarters: New Delhi
- Secretary General: Rajeev Mehta
- Founders: Harry Buck, Arthur Noehren
World Squash Championship 2023 begins at Chennai; India to face Hong Kong:
- The World Squash Championship 2023 matches began at Chennai.
- A total of eight teams are playing the matches.
- World champions Egypt, India, South Africa, Japan, Australia, Malaysia, Colombia and Hong Kong, China will be playing the matches in Pool A and Pool B slots.
- In the first match in Pool B, South Africa won against South Africa.
- Japan’s Tomotaka Endo took 3 points against South Africa’s Jean Pierre Brits and won the first game.
- Japan’s Watanabe took 3 against Muller and South Africa’s Ward took 3 against Midorikawa.
- In Pool A matches, World Champions Egypt face Australia in the afternoon and Malaysia will go against Colombia.
- India will face Hong Kong
CURRENT AFFAIRS : OBITUARIES
Former Italian Prime Minister and media notable Silvio Berlusconi Passed away
- The billionaire media mogul who served as Italian prime minister multiple times between 1994 and 2011, Silvio Berlusconi passed away at the age of 86 in Italy.
About Silvio Berlusconi :
- Berlusconi was born in 1936 in Milan,Kingdom of Italy.
- He was an Italian media tycoon, politician, and billionaire.
- He first entered the media world in 1973, by setting up a small cable television company, TeleMilano, to service units built on his Segrate properties.
- TeleMilano was the first Italian private television channel and later evolved into Canale 5, the first national private TV station.
- He was the 3 time Prime Minister of Italy serving from 1994 to 1995, 2001 to 2006 and 2008 to 2011.
- He was the longest serving post-war Prime Minister (PM) of Italy, and the 3rd longest-serving since Italian unification, after Benito Mussolini and Giovanni Giolitti.
- After losing his majority in parliament amid growing fiscal problems related to the European debt crisis, the resignation of Berlusconi as Prime Minister came on 16 November 2011.
- In 2013, Berlusconi was convicted of tax fraud by the Supreme Court of Cassation.
- He was a member of the Chamber of Deputies from 1994 to 2013; a member of the Senate of the Republic from 2022 to 2023, & previously from March to November 2013; & a Member of the European Parliament (MEP) from 2019 to 2022, & previously from 1999 to 2001.
- With a net worth of US$6.8 billion as of June 2023, Berlusconi was the 3rd -wealthiest person in Italy at the time of his death.
Awards & Honors :
- He was awarded the Member 1st Class of the Order of Abdulaziz al Saud, a Saudi Arabian order of Merit by the Kingdom of Saudi Arabia on 22 November 2009.
CURRENT AFFAIRS: IMPORTANT DAYS
World Blood Donor Day 2023: June 14
- On the 14th of June of this current year, World Blood Donor Day 2023 is celebrated all over the world as an awareness event to educate the public to donate blood.
- The slogan for the 2023 World Blood Donor Day campaign is “Give blood, give plasma, share life, share often.”
- Karl Landsteiner was born on June 14, 1868, and World Blood Donor Day is commemorated on his birthday.
- Landsteiner was a scientist, physician, and immunologist from Austria.
- In 1930, he was awarded the Nobel Prize for his development of the ABO blood group system, which is the contemporary method of blood type categorization.
- This breakthrough allowed doctors to do blood transfusions without endangering the patient’s life.
- On April 7, 2000, the theme of World Health Day is ‘Safe Blood Starts With Me.’
- In May 2005, World Blood Donor Day is created and implemented at the 58th World Health Assembly.
- On June 11, 2009, The Melbourne Declaration is established, setting up a goal for all countries to obtain all blood supplies from voluntary unpaid donors by 2020.
- On December 6, 2013, The largest blood donation drive is held, in which 61,902 participants donate blood all across India.
Daily CA One- Liner: June 14
- The Reserve Bank of India (RBI) has imposed a penalty of Rs 60.20 lakh on The Bihar State Co-operative Bank Limited, Patna, for a slew of shortcomings and violations.
- The Government of India (GoI) and the Asian Development Bank (ADB) have signed a USD 130 million loan agreement for the Himachal Pradesh subtropical horticulture, irrigation and value addition project to increase agricultural productivity, improve access to irrigation and promote horticulture agribusinesses to raise farmers income in Himachal Pradesh (HP), India.
- The settlement of derivative contracts on Bank Nifty has been shifted by the National Stock Exchange (NSE) from Thursday to Friday.
- The Union Minister for Road Transport and Highways Nitin Gadkari laid the foundation stone of 10 national highway projects worth more than 8415 crores in Uttar Pradesh
- The first indigenously developed tissue engineering scaffold from mammalian organs, an animal-derived Class D Biomedical Device that can rapidly heal skin wounds at low cost with minimum scarring, has received approval from the Indian Drugs Controller
- The Centre released the third instalment of tax devolution to states amounting to Rs 1,18,280 crore, as against normal monthly devolution of Rs 59,140 crore
- Government of India has decided to impose stock limits on the Wheat applicable to Traders/Wholesaler, Retailers, Big Chain Retailers and Processors for all States and Union Territories
- India’s retail inflation declined to a 25-month low of 4.25 per cent in May on a favourable base effect and also on account of softening prices of food and fuel items
- Karnataka Vikas Grameena Bank (KVGB) has bagged the national award for significant enrolment under Atal Pension Yojana (APY) from the Pension Fund Regulatory and Development Authority (PFRDA), New Delhi
- Indian Olympic Association (IOA) announced that the impending Wrestling Federation of India (WFI) elections will be held on the 4th of July
- The World Squash Championship 2023 matches began at Chennai.
- The United Arab Emirates (UAE) has won the Presidency of the World Meteorological Organization (WMO).
- The Government of Kerala (local self-government (LSG) department) has launched a new scheme to reward for reporting illegal waste dumping on roads.
- The West Bengal Industrial Development Corporation (WBIDC), Amazon Global Selling and the Federation of Indian Chambers of Commerce & Industry (FICCI) jointly organized an e-Export Haat at Silpa Sadan in Kolkata, West Bengal (WB).
- The Congress government in Karnataka has rolled out its first of the five poll guarantees, the ‘Shakti’ scheme, that offers free travel to women and transgender people in government-run buses in Karnataka.
- The United Nations Educational, Scientific and Cultural Organization (UNESCO) world heritage site, Sanchi located in the Raisen district will soon become the first solar city of Madhya Pradesh (MP).
- Senior Indian Administrative Service (IAS) officers Amit Agrawal and Subodh Kumar Singh have been appointed as Chief Executive Officer (CEO) of Unique Identification Authority of India (UIDAI) and director general (DG) of the National Testing Agency (NTA), respectively, as part of a bureaucratic reshuffle effected by the Centre.
- The 12th edition of joint military “Exercise Ekuverin” between the Indian Army & the Maldives National Defence Force commenced at Chaubatia, Uttarakhand from June 11 to 24, 2023(14 days long exercise).
- The first Ammunition Cum Torpedo Cum Missile (ACTCM) Barge of the series LSAM 15 (Yard 125) has been delivered to the Indian Navy (IN) at the Naval Armament Depot (NAD), Karanja, Mumbai, Maharashtra.
- The Indian Army has signed the second deal under the ‘Make in India’ initiative with Bangalore-based Astrome Technologies Private Limited through Innovations for Defence Excellence (iDEX) to purchase indigenously developed ‘Tactical LAN (Local area network) Radio’.
- Canada Pension Plan Investment Board (CPPIB) sold a 1.7% stake in private sector lender Kotak Mahindra Bank Limited (KMBL).
- The billionaire media mogul who served as Italian prime minister multiple times between 1994 and 2011, Silvio Berlusconi passed away at the age of 86 in Italy.
- On the 14th of June of this current year, World Blood Donor Day 2023 is celebrated all over the world as an awareness event to educate the public to donate blood.