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CURRENT AFFAIRS : BANKING & FINANCE
Punjab National Bank launched IVR Based UPI Solution – UPI 123PAY
- Punjab National Bank (PNB) has become the first public sector bank to introduce an Interactive Voice Response (IVR)-based Unified Payment Interface (UPI) solution – UPI 123PAY, aligning with the Digital Payment Vision 2025 towards a cashless and cardless society.
What is UPI 123PAY?
- Unified Payments Interface (UPI) is a 24-hour payment channel enabling customers to perform fast, encrypted and real-time payments.
- So far, the solution was accessible only through smartphones or through Unstructured Supplementary Service Data (USSD) service and was dependent on good internet connectivity.
- The UPI 123PAY solution would extend the functionality and facilitate the feature to any phone users and those in low internet connectivity zones to perform UPI transactions.
- It will enable everyone with any phone to make payments through UPI from anywhere in India.
- The functionality is also available for non-PNB customers.
- UPI 123PAY will be multilingual and be available in the customer’s preferred language.
- Also, Infrastructure Development Finance Company (IDFC) First Bank, City Union Bank (CUB) &National Securities Depository Limited (NSDL) Payments Bank have gone live on IVR payments.
How To Use The UPI 123PAY Facility:
- Dial the IVR number of the bank, that is, 9188-123-123.
- Choose the name of the beneficiary of the service.
- Authorise the transaction with your 4 to 6-digit UPI pin.
About PNB :
- Founded : 19 May 1894
- Headquarters : Dwarka, Delhi, India
- MD & CEO : Atul Kumar Goel
- Tagline : You Can Bank Upon
Indian Overseas Bank launched My Account My Name for Savings Bank Account Holders
- In a first-of-its-kind move in the banking sector, Indian Overseas Bank (IOB) has launched a Unique feature named ‘My Account My Name’ for Savings Bank (SB) account customers.
- This feature allows customers to choose any name as their account number.
- The schemes were launched from Central Office, Chennai, virtually by Shri Ajay Kumar Srivastava, MD&CEO, Indian Overseas Bank with all the 49 Regional Offices spread over India.
About ‘My Account My Name :
- Through this new feature, now the customers of the Bank will have the freedom to choose his/her/any name as his/her account number and the same can be used for all transaction purposes.
- The account name can be a combination of 7 letters only, or 7 numbers only or 7 alpha numeric only like AJIT007, PRADHAN or 2424707
- Customers will not be required to remember their 15 digits’ account numbers.
- To begin with, this facility of “MY ACCOUNT MY NAME” is available for IOB SB HNI (High Networth Individuals)&IOB SB SALARY account customers.
- IOB has also revamped all its Saving Account Schemes, considering the necessity of all the segments of the society i.e., Salaried Class, HNI, Students, Pensioners, Senior citizens in line with the present scenario.
- IOB has already revamped all its current account schemes on its 87th Foundation day on 10th February 2023.
About IOB :
- Founded : 10 February 1937
- Headquarters : Chennai, Tamil Nadu
- MD & CEO : Ajay Kumar Srivastava
- Tagline : Good people to grow with
Karnataka Vikas Grameena Bank launched new deposit scheme – Vikas Ashadeep 400 days’
- Karnataka Vikas Grameena Bank (KVGB) has launched a new deposit scheme named ‘Vikas Ashadeep 400 days’.
- The scheme was launched by Shreekant M Bhandiwad, Chairman of KVGB.
About ‘Vikas Ashadeep 400 days’ :
- The scheme is of a tenor of 400 days with an interest rate of 7.50% for senior citizens and 7% for the general public.
- Under the scheme, a minimum of ₹10,000 and a maximum of ₹2 crore can be deposited.
- The scheme is applicable to all segments of depositors, including senior citizens, and institutions.
About KVGB :
- Headquarters : Dharwad, Karnataka, India
- Chairman : Shreekant M Bhandiwad
- KVGB, is an Indian Regional Rural Bank sponsored by Canara Bank.
- It is under the ownership of the Ministry of Finance , Government of India.
- The KVGB has a network of 639 branches with a total business of ₹33350 crore & this included ₹18710 crore of deposits and ₹14640 crore of advances.
South Indian Bank introduces Digital Platform – SIB SWIFTe for hassle-free account opening
- South Indian Bank (SIB) has introduced SIB SWIFTe, an innovative and customer-centric digital account opening platform that eliminates the hassle of paper-based documentation.
- The platform prioritises customer convenience and transforms the account opening process, enabling the bank to swiftly on-board customers in less than 5 minutes.
- This initiative primarily targets new-to-bank users above 18 years of age, who possess a valid Aadhaar and/or Permanent Account Number (PAN).
About SIB SWIFTe :
- SIB SWIFTe, a user-friendly and intuitive interface, provides clear instructions and visual cues to guide both customers and bank representatives through each step, ensuring a seamless and hassle-free experience.
- This facility brings the branch-like experience to the comfort of customers’ homes, allowing them to connect with bankers at their convenience.
- With SWIFTe, customers can effortlessly complete the paperless Know Your Customer (KYC) process offering highly competitive interest rates on their savings balances.
About SIB :
- Founded : 1928
- Headquarters : Thrissur, Kerala, India
- MD & CEO : Murali Ramakrishnan
RBI committee proposes new rules to improve customer service standards
- Reserve Bank Of India’s (RBI) Committee for Review of Customer Service Standards has released its report.
- The committee has proposed that the Deposit Insurance and Credit Guarantee (DICGC) Scheme should be extended to PPIs (prepaid payment instruments).
- It has also proposed a centralised database of KYC documents and a common portal for lodging and tracking complaints.
- The committee stated that RBI may examine whether DICGC cover can be extended to bank PPIs and later to non-bank PPIs.
Key Highlights :
- The committee has suggested that the Charter of Customer Rights should be made enforceable.
Other proposals of the committee are:
- Consolidating customer service regulations for all regulated entities
- Setting up a common complaint portal
- Strengthening banks’ grievance redressal mechanisms
- Developing and publishing a ‘Customer Service and Protection Index’
- Conducting periodic and regular thematic studies across entities
- Keeping UPI transactions outside the stipulated limits on debit savings account transactions
- Encouraging the use of digi-lockers
- Providing a dedicated telephone helpline number for senior citizens and differently-abled customers
- Standardisation of the ATM interface
- The committee stated that RBI may also consider asking the Indian Banks’ Association (IBA) to establish a fund.
- This fund should be used to directly compensate banks’ internal ombudsman to avoid conflicts of interest.
About RBI’s Committee for Review of Customer Service Standards :
- The formation of the committee was announced in April 2022& it was set up in May 2022.
- It was set up under the chairmanship of former RBI deputy governor BP Kanungo.
- It was set up to evaluate and review the quality of customer service and to suggest measures to improve the quality of customer service.
- It was also to examine evolving needs and identify best practices.
Amp Energy India secures $250-million funding from SMBC Bank of Japan, ICG, AIIB
- Energy transition platform Amp Energy India has secured up to $250 million (about ₹2,061 crore) from SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank).
Key Highlights :
- Amp Energy India is with a total portfolio of7 Gigawatts (GW) spread across 17 states .
- Amp Energy India provides renewable energy transition solutions to marquee customers across 10 diverse sectors – pharmaceutical, automobiles, cement, steel, heavy engineering infrastructure, FMCG, educational institutions, IT & data centres, utilities, and government bodies.
- SMBC is a Japanese multinational banking and financial services institution headquartered in Tokyo, Japan.
- ICG is a London Stock Exchange (LSE) listed global alternative asset manager headquartered in London, United Kingdom (UK).
- ICG’s partnership with Amp India as the first investment for ICG’s Asia-Pacific Infrastructure.”
- AIIB is a Multilateral development finance institution, headquartered in Beijing, China.
- This is the first direct equity investment of AIIB into a renewable Independent Power Producer (IPP).
About Amp Energy India :
- Headquarters : New Delhi, Delhi, India
- MD & CEO : Pinaki Bhattacharyya
SBM Bank India Launches World Elite Metal Debit Card for the Uber-affluent Indian
- SBM Bank India unlocked exclusive, on-invitation access to the world of luxury with the launch of the SBM World Elite Metal Debit Card.
- Powered by Mastercard, & is designed and being offered exclusively to SBM Private customers.
About SBM World Elite Metal Debit Card :
- SBM World Elite Metal Debit Card is valid for a period of 5 years from the date of issue of the card.
- This is an International Debit Card and can be used for international transactions.
- The Card offers a world of exclusive cherry-picked privileges across 500 luxury hotels, resorts and Michelin-star restaurants globally, including Taj Epicure.
- It also provides unlimited complimentary airport lounge access globally.
- This debit card can be used for cash withdrawals at any Automated Teller Machine (ATM), any number of times, at no extra cost.
- The cardholders can access the finest health advisors, and coordinators, a network of more than 50,000 of the world’s leading medical experts, and VIP access to 46 premium golf clubs and golf programs across 12 countries.
About SBM Bank India :
- Founded : 1st December 2018
- Headquarters : Mumbai, Maharashtra, India
- MD & CEO : Sidharth Rath
- SBM Bank India is a subsidiary of the State Bank of Mauritius.
- SBM Bank India” is the first bank to receive a universal banking license from the Reserve Bank of India (RBI) to set up and operate as a Scheduled Commercial Bank under Wholly Owned Subsidiary (WOS) mode offering banking services in India.
SEBI Allows Mutual Funds to Participate in Repo Transactions on commercial papers
- Capital markets regulator Securities and Exchange Board of India (SEBI) has allowed mutual funds (MFs) houses to conduct repo transactions on corporate debt securities, commercial papers (CPs) and certificate of deposits (CDs), in a bid to boost growth of the corporate bond market.
What is a repo transaction?
- A repo transaction,also known as a repo or sale repurchase agreement, is one where mutual funds use corporate debt instruments as collateral for raising short-term capital with a commitment to repurchase it at a later date at the prevailing rate.
- This helps mutual funds meet liquidity needs and redemption requests.
Key Highlights :
- According to the guidelines, the mutual funds can participate in repo transactions only in “AA” and above rated corporate debt securities,
- The credit rating of exposure on repo transactions for various purposes, such as the Potential Risk Class (PRC) matrix, Liquidity ratios, Risk-o-meter, etc., will be the same as that of the underlying securities, i.e. on a look-through basis.
- SEBI also stated that for the transactions where settlement is guaranteed by a Clearing Corporation, the exposure would not be considered for the purpose of determination of investment limits for single issuer, group issuer, and sector-level limits.
About SEBI :
- Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
- Headquarters : Mumbai, Maharashtra
- Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
- SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.
IRDAI issues draft Bima Vahaks guidelines
- Insurance Regulator Insurance Regulatory and Development Authority of India (IRDAI) came out with draft guidelines for ‘Bima Vahaks (BV)‘, which seeks to set up a dedicated distribution channel at the level of gram panchayats to enhance insurance coverage and create awareness.
Objective :
- To improve accessibility and availability of insurance in every nook and corner of the country.
- Corporate Bima Vahaks and Individual Bima Vahaks have been proposed in the guidelines for the distribution channel.
Key Highlights :
- Corporate Bima Vahaks would be legal persons that will be appointed by an insurer and registered in compliance with the relevant laws.
- Any person appointed by an insurer or by a Corporate Bima Vahak could be an Individual Bima Vahak.
- The BVs, both corporate and individual, will be authorised to undertake activities such as the collection of proposal information and KYC documents and coordinate claims-related services.
- Every insurer shall be responsible for ensuring KYC and AML (Anti-Money Laundering) compliance in respect of policies obtained through Individual Bima Vahaks and Corporate Bima Vahaks.
- As per the draft, every insurer will have to provide optional mode for payment of premium by prospects or policyholders.
- In addition, Bima Vahaks should be encouraged to adopt electronic payment processes facilitated by insurers to enable direct remittance of premiums.
About IRDAI :
- Established : 1999
- Headquarters : Hyderabad, Telangana
- Chairperson : Debasish Panda
- The IRDAI is a statutory bodyunder 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.
CURRENT AFFAIRS: NATIONAL NEWS
MoS for Culture and External Affairs inaugurates art exhibition at NGMA Mumbai
- An art exhibition titled ‘Maharaja’s Treasure: Select Works of Art from the Famed Air India Collection’ hosted by the National Gallery of Modern Art, Mumbai, under the Union Ministry of Culture was inaugurated by Union Minister of State for External Affairs and Culture Meenakshi Lekhi
- The inimitable exhibition has been curated to focus on the works that Air India used to redefine the air travel experience and showcase paintings and sculptures by eminent artists like VS Gaitonde, GR Santosh, KH Ara, B Prabha, Pilloo Pochkhanwala, MF Husain and Raghav Kaneria et al.
- The in-house curated exhibition of NGMA consists of thematic display of around 200 artworks.
- It will continue till the 13th of August, 2023 at the prestigious Nation Gallery of Modern Art in Fort, Mumbai.
India to host IIAS Annual Conference 2025 at Kochi
- India expressed its willingness to host the 2025 IIAS (International Institute of Administrative Sciences) Annual Conference at Kochi, Kerala, in February, 2025.
- The 2025 Annual Conference of IIAS would be attended by 30 Member Countries, 18 National Sections and over 50 IIAS Universities/ Institutes of Public Administration in Member Countries.
- In accordance with India’s governance model, the theme for 2025 IIAS Annual Conference at Kochi is proposed as “Next Generation Administrative Reforms – Empowering the Citizens and Reaching the Last Mile”.
- In 2023, India will be hosting the G-20 Leaders’ Summit and the SCO Leaders’ Summit.
- Over 200 meetings of G20 engagement groups/ working groups/ ministerial meetings are being conducted in 56 cities under the theme “Vasudhiava Kutumbakam – One Earth, One Family, One Future”.
- As the world’s largest democracy and amongst the most digitally advanced Nations in the world, India brings forth its unique experience of hosting important bilateral/multilateral summits backed by decentralized/ functional governance models.
- India has always viewed the IIAS as an important institution for international relations in public administration.
- The IIAS 2025 Conference in Kochi would represent a significant milestone for India’s pursuit of next-generation administrative reforms.
About IIAS
- The IIAS established in 1930, is a federation of member States, national sections and academic research centres jointly elaborating public administration solutions to the policy challenges of the day with headquarters in Brussels, Belgium.
CURRENT AFFAIRS: BUSINESS NEWS
India’s seafood exports touch an all-time high in FY 2022-23
- India achieved all-time high export of seafood both in terms of volume and value (both US$ and Rupee) by shipping 17,35,286 MT of seafood worth Rs. 63,969.14 crore (US$ 8.09 billion) during FY 2022-23 despite the several challenges in its major export markets like USA.
- During the FY 2022-23, the export improved in quantity terms by 26.73%, in rupee terms by 11.08%, in US$ terms by 4.31%.
- In 2021-22, India had exported 13,69,264 MT of seafood worth Rs 57,586.48 crore (US$ 7,759.58 million).
- Frozen shrimp remained the major export item in terms of both quantity and value while USA and China turned out to be the major importers of India’s seafood.
- Frozen shrimp, which earned Rs 43,135.58 crore (US$ 5481.63 million), retained its position as the most significant item in the basket of seafood exports, accounting for a share of 40.98% in quantity and 67.72% of the total US$ earnings.
- Shrimp exports during the period increased by 1.01 % in Rupee value.
- The overall export of frozen shrimps during 2022-23 was pegged at 7,11,099 MT. USA, the largest market, imported (2,75,662 MT) of frozen shrimp, followed by China (1,45,743 MT), European Union (95,377 MT), South East Asia (65,466 MT), Japan (40,975 MT), and the Middle East (31,647 MT).
- The export of black tiger (BT) shrimp increased by 74.06%, 68.64% and 55.41% in quantity, Rupee value and US$ terms respectively in 2022-23. BT shrimp exported to the tune of 31,213 MT worth Rs 2,564.71 Cr (US$ 321.23 million). Japan turned out to be the major market for Black Tiger shrimp with a share of 25.38% in terms of US$ value, followed by the European Union (25.12%) and USA (14.90%). The Vannamei shrimp exports declined in 2022-23 compared to 2021-22 by 8.11% from US$ 5234.36 million to US$ 4809.99 million.
WPI maintains the declining trend; falls to -3.48% in May, 2023:
- The annual rate of inflation based on all India Wholesale Price Index (WPI) number is (-) 3.48% (Provisional) for the month of May, 2023 (over May, 2022) against (-) 0.92% recorded in April, 2023.
- Decline in the rate of inflation in May, 2023 is primarily contributed by fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum & natural gas, and chemical & chemical products.
- The index numbers and inflation rate for the last three months of all commodities and WPI components are given below:
| Index Numbers & Annual Rate of Inflation (Y-o-Y in %)* | |||||||
| All Commodities/Major Groups | Weight (%) | Mar-23 (F) | Apr-23 (P) | May-23 (P) | |||
| Index | Inflation | Index | Inflation | Index | Inflation | ||
| All Commodities | 100.0 | 151.0 | 1.41 | 150.9 | -0.92 | 149.6 | -3.48 |
| I.Primary Articles | 22.62 | 175.2 | 2.52 | 177.3 | 1.60 | 175.3 | -1.79 |
| II.Fuel & Power | 13.15 | 156.4 | 8.69 | 152.6 | 0.93 | 148.6 | -9.17 |
| III.Manufactured Products | 64.23 | 141.3 | -0.70 | 141.2 | -2.42 | 140.7 | -2.97 |
| Food Index | 24.38 | 172.1 | 2.32 | 173.6 | 0.17 | 172.8 | -1.59 |
Note: P: Provisional, F: Final, * Annual rate of WPI inflation calculated over the corresponding month of previous year
CURRENT AFFAIRS: AWARDS AND HONOUR
Guwahati Railway Station awarded ‘Eat Right Station’ certification by FSSAI
- The Guwahati Railway Station in Assam under North East Frontier Railway has been awarded ‘Eat Right Station’ certification by FSSAI in recognition of providing high-quality, nutritious food to passengers.
- The station has been able to qualify the guidelines established by FSSAI and becomes the first railway station in NF Railway to get this status.
- It is to mention that the ‘Eat Right Station’ certification is granted by FSSAI to railway stations adhering to standard food storage and hygiene practices.
- This certification is awarded by FSSAI to railway stations that set benchmarks in providing safe and wholesome food to passengers.
CURRENT AFFAIRS: RANKING AND INDEX
NTPC climbs up 52 positions to 433rd rank in Forbes’ “The Global 2000” List of top companies
- NTPC Limited, India’s largest power generation company,has climbed 52 positions to secure the 433rd rank in Forbes’ “The Global 2000” List for 2023.
- Rising from 485th rank in the list in the year 2022, the climb of 52 positions in just one year demonstrates NTPC’s emergence as a strong force in the global market.
- It is evidence of the company’s steady expansion, sound financial condition, and persistent dedication to excellence.
- “The Global 2000” List recognizes the world’s largest companies based on four key metrics: sales, profits, assets and market value.
- Considering Indian companies, NTPC has climbed up one place to secure the 10th rank among the largest Indian companies in the 2023 List.
- This ranking further solidifies NTPC’s status as a leading player in India’s corporate sector.
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Gurbachan Singh Randhawa resigns as chairman of Athletics Federation of India’s selection committee after 18-year tenure
- Two-time Olympian and 1962 Asian Games gold medallist Gurbachan Singh Randhawa resigned as the chairman of Athletics Federation of India (AFI) Selection Committee after a tenure of 18 years owing to his “advancing age”.
About Gurbachan Singh Randhawa :
- Gurbachan Singh Randhawa was born on 6 June 1939, in Punjab.
- He is a former Indian athlete who won a gold medal at the 1962 Asian Games in decathlon.
- He participated in the 1960 and 1964 Olympics in 110 hurdles, high jump and decathlon.
- He finished 5th in the 110 hurdles at the 1964 Tokyo Olympics with a timing of 14.07 seconds.
- He was the flag-bearer of the Indian contingent at the 1964 Tokyo Olympics, achieving 4 national records within two days.
- His biography ‘Uddna Baaz’ is written by Navdeep Singh Gill.
Awards & Honors :
- He was bestowed second-highest sporting honour of India, Arjuna Award in 1961
- In 2005, Randhawa was conferred with the fourth highest civilian award in India, Padma Shri award.
About AFI :
- Established : 1946
- Headquarters : New Delhi, Delhi, India
- President : Adille Sumariwalla
- The AFI is the national governing body for Athletics sport in India, and is responsible for conducting competitions in the country.
Uttam lal takes charge as Director (Personnel) at NHPC
- Uttam Lal has taken over as Director (Personnel) at India’s premier hydropower company, NHPC Limited.
- He has over 35 years of vast and rich experience in the area of Personnel Management, Industrial Relations and Corporate Social Responsibility.
- Known for his expertise and long experience in the power sector, he is a core HR professional seeking to amalgamate human resource potential in the service of the organization’s goal and vision.
- Prior to his appointment at NHPC, Shri Lal was serving as Chief General Manager (HR-CSR/R&R/LA) at NTPC Limited.
About NHPC Limited :
- Founded : 1975
- Headquarters : Faridabad, Haryana, India
- Chairman & Managing Director : Rajeev Kumar Vishnoi
- NHPC Limited (erstwhile National Hydroelectric Power Corporation ) is an Indian government hydropower board under the ownership of the Ministry of Power,Government of India (GoI).
Pankaj Agrawal to be the new Power Secretary & Chanchal Kumar as new Civil Aviation Secretary
- In a major bureaucratic reshuffle, the government of India (GoI) has appointed Pankaj Agrawal as the new Power Secretary
- He would replace present Secretary Alok Kumar, who will retire on June 30, 2023.
About Pankaj Agrawal :
- Pankaj Agrawal is a 1992 batch Indian Administrative Service (IAS) Officer of the Madhya Pradesh cadre.
- He served as the Additional Secretary and Director General (Acquisition) in the Defence Ministry.
Other Appointments :
- Senior Indian Administrative Service (IAS) officer Sudhansh Pant has been named as the new Health Secretary.
- Chanchal Kumar, Managing Director (MD) of National Highways and Infrastructure Development Corporation Ltd., has been named as the new Civil Aviation Secretary.
- T K Ramachandran, chairman of V O Chidambaranar Port Trust, Tuticorin, will be Secretary, Ministry of Ports, Shipping and Waterways in place of Pant.
- Senior bureaucrat Atal Dulloo has been appointed as Secretary, Department of Border Management, Ministry of Home Affairs& he will succeed Dharmendra S Gangwar, who is due to superannuate on June 30, 2023.
- Rameshwar Prasad Gupta, a 1987-batch Gujarat-cadre retired IAS officer, has been appointed as Chairman & Managing Director, Solar Energy Corporation of India Ltd. on contract basis for a period of two years.
- Bharat Lal, who is at present Director General of National Centre for Good Governance, has been appointed as Secretary General, National Human Rights Commission on contract basis for a period of 1 year, will succeed Devendra Kumar Singh, who is due to retire from service on June 30, 2023.
- Debashree Mukherjee will be Secretary, Department of Water Resources, River Development and Ganga Rejuvenation, will succeed Pankaj Kumar, upon his superannuation on September 30, 2023.
- Rajat Kumar Mishra, Additional Secretary in the Department of Economic Affairs, has been appointed as Secretary, Department of Fertilizers.
- Subhas Chandra Lal Das, Director General of Hydrocarbons, will now be Secretary, Ministry of Micro, Small and Medium Enterprises.
- Nivedita Shukla Verma, Special Secretary in the Department of Defence, will be new Secretary, Department of Chemicals and Petro-Chemicals.
- Vibhu Nayar, Additional Secretary & Financial Advisor, Ministry of External Affairs will be Tribal Affairs Secretary.
- S Gopalakrishnan, Special Secretary in the Department of Health & Family Welfare, has been appointed as Director General, National Productivity Council, will replace Sundeep Kumar Nayak, who will be superannuating on July 31, 2023.
- Chhattisgarh-cadre IAS officer Renu Gonela Pillay will be Secretary, National Commission for Scheduled Castes, Ministry of Social Justice and Empowerment, will succeed Upma Srivastava, who retires on July 31, 2023.
- Pillay’s batchmate Seema Jain, presently serving in her cadre state Punjab, will be Member Finance, Space Commission & she will take over the charge from Talleen Kumar, who is due to superannuate on July 31, 2023.
- The Appointments Committee of the Cabinet (ACC) has approved in-situ upgradation of two officers to the level of Special Secretary by temporarily upgrading the post held by them.
- Pramod Kumar Tiwari, Director General, Bureau of Indian Standards, Ministry of Consumer Affairs, Food and Public Distribution will now be at the rank and pay of Secretary to the government of India.
- Vijay Kumar, Additional Secretary in the Ministry of Cooperation, will be Special Secretary in the same ministry.
CURRENT AFFAIRS : SCIENCE & TECHNOLOGY
Indian Startup Azista BST Aerospace launched its First Satellite AFR by SpaceX
- Gujarat-based aerospace firm Azista BST Aerospace (ABA) launched its maiden satellite Azista BST Aerospace First Runner (AFR), also called ABA First Runner.
- The satellite was launched as part of the SpaceX Transporter-8 mission, atop a Falcon 9 rocket, from Space Launch Complex 4E, Vandenberg Space Force Base, California, the United States of America (USA).
- Transporter-8 was SpaceX’s eighth dedicated smallsat rideshare program mission.
- This was SpaceX’s 40th mission of 2023, and the firm’s 200th successful recovery to date.
- The Falcon 9 rocket launched a total of 72 spacecraft as part of Transporter-8, including CubeSats, MicroSats, a re-entry capsule, and orbital transfer vehicles carrying spacecraft to be deployed at a later time.
About AFR :
- Azista BST Aerospace has a 50,000-square-foot state-of-the-art facility capable of supporting the production of 2 satellites per week.
- The aerospace firm built AFR, an 80-kilogram satellite, on a modular bus platform.
- AFR is equipped with an optical remote sensing payload with both panchromatic and multispectral imaging capabilities.
- AFR is the first satellite of its size and performance built by the private space industry in India, capable of supporting various critical applications for civilian and defence purposes.
About Azista BST Aerospace :
- Founded : 2019
- Headquarters : Ahmedabad, Gujarat
- Director : Sunil Indurti
- Azista BST Aerospace is an Indo-German satellite manufacturing joint venture floated by India’s Azista Industries Pvt. Ltd (holding 70% stake) and Berlin Space Technologies GmbH, Germany (holding 30% stake).
CURRENT AFFAIRS: SPORTS NEWS
280 member Indian team head to Berlin for Special Olympics Summer Games
- The Indian team comprising 280 members including 198 athletes has left for Berlin, Germany to compete at the Special Olympics Summer Games.
- Earlier, the team attended a preparatory coaching camp at Sports Authority of India’s Jawaharlal Nehru Stadium in New Delhi for the world event which will see participation from over seven thousand athletes from 190 countries.
- The Special Olympics Summer Games will be held from 17th to 25th of May.
- Indian Athletes will compete for medals in 16 different sports disciplines.
- The Union Sports Ministry has sanctioned over seven crore rupees for the Indian contingent to take part in the Special Olympics, which is the highest amount sanctioned for the event to date.
India win one Gold, 3 Silver & 3 Bronze medals in U-17 Asian Wrestling Championships
- In wrestling, India wrapped up their campaign in the U-17 Asian Wrestling Championships 2023 with one gold, three silver and three bronze medals on the final day in Bishkek, Kyrgyzstan.
- Ankush won India’s only gold medal of the day in the freestyle 55kg weight category, defeating Iran’s Amirreza Ali Teymorizad.
- Dhanraj Bharat Shirke lost to Iran’s Ahora Farhad Khateri of Iran.
- Rupesh bagged the other silver after losing to Iran’s Sam Reza Sayar in the freestyle 48kg final.
- With this, all 10 freestyle wrestlers won medals in the competition as India finished second in the freestyle team rankings behind Iran.
MOC approves Olympic medalist Mirabai Chanu and CWG medalist Bindyarani Devi’s proposal to train in St. Louis, USA:
- Ministry of Youth Affairs and Sports (MYAS) Mission Olympic Cell (MOC) in the recent meeting approved the foreign training camp for Target Olympic Podium Scheme (TOPS) athletes Mirabai Chanu and Bindyarani Devi’s proposal to train in St. Louis, USA.
- The Olympic and Commonwealth Games medalists would be training at St. Louis’s SQUAT University under Dr Aron Horschig and working on their rehabilitation and strength training process ahead of the upcoming Asian Games.
- During their 65 days foreign training camp, the duo will be accompanied by Indian Chief Coach Vijay Sharma and their physiotherapist Tesneem Zayyad.
- The government will cover their Air travel expenses, boarding and lodging cost, medical insurance, local transportation cost, gym expenses and doctor’s consultation cost among other expenses.
CURRENT AFFAIRS: IMPORTANT DAYS
Global Wind Day 2023: June 15
- Global Wind Day 2023 is observed all over the world on 15th June
- On June 15, this day is celebrated all over the world annually and it is marked as a day of discovering the possibilities of wind power
- In 2007, The European Wind Energy Association (EWEA) organized the first Wind Day.
- In 2009 the EWEA joined forces with the Global Wind Energy Council (GWEC) and made it a worldwide event.
- In recent years, WindEurope and the GWEC have organized the day together.
- In 2012, the organizations sponsored a photo competition.
World Elder Abuse Awareness Day 2023
- On June 15th, every year the world commemorates World Elder Abuse Awareness Day.
- The theme this year is “Closing the Circle: Addressing Gender-Based Violence (GBV) in Older Age Policy, Law and Evidence-based Responses”.
- In 1978, SAGE was formed and the Advocacy and Services for LGBT elders were created.
- In 1983, The first book on elder abuse, “Abuse and Maltreatment of the Elderly: Causes and Interventions”, was published.
- In1988, The National Center on Elder Abuse (NCEA) was established by the U.S. Administration on Aging.
- In 2003, A group of UCI professors created the nation’s first-ever Elder Abuse Forensic Center
- The day was officially recognized by the United Nations General Assembly in December 2011 bypassing the resolution 66/127 of the United Nations following a request by the International Network for the Prevention of Elder Abuse (INPEA), which first established the commemoration in June 2006.
Daily CA One- Liner: June 15
- Punjab National Bank (PNB) has become the first public sector bank to introduce an Interactive Voice Response (IVR)-based Unified Payment Interface (UPI) solution – UPI 123PAY, aligning with the Digital Payment Vision 2025 towards a cashless and cardless society.
- In a first-of-its-kind move in the banking sector, Indian Overseas Bank (IOB) has launched a Unique feature named ‘My Account My Name’ for Savings Bank (SB) account customers.
- Karnataka Vikas Grameena Bank (KVGB) has launched a new deposit scheme named ‘Vikas Ashadeep 400 days’.
- South Indian Bank (SIB) has introduced SIB SWIFTe, an innovative and customer-centric digital account opening platform that eliminates the hassle of paper-based documentation.
- Reserve Bank Of India’s (RBI) Committee for Review of Customer Service Standards has released its report.
- An art exhibition titled ‘Maharaja’s Treasure: Select Works of Art from the Famed Air India Collection’ hosted by the National Gallery of Modern Art, Mumbai, under the Union Ministry of Culture was inaugurated by Union Minister of State for External Affairs and Culture Meenakshi Lekhi
- India expressed its willingness to host the 2025 IIAS (International Institute of Administrative Sciences) Annual Conference at Kochi, Kerala, in February, 2025
- India achieved all-time high export of seafood both in terms of volume and value (both US$ and Rupee) by shipping 17,35,286 MT of seafood worth Rs. 63,969.14 crore (US$ 8.09 billion) during FY 2022-23 despite the several challenges in its major export markets like USA
- The annual rate of inflation based on all India Wholesale Price Index (WPI) number is (-) 3.48% (Provisional) for the month of May, 2023 (over May, 2022) against (-) 0.92% recorded in April, 2023
- The Guwahati Railway Station in Assam under North East Frontier Railway has been awarded ‘Eat Right Station’ certification by FSSAI in recognition of providing high-quality, nutritious food to passengers
- NTPC Limited, India’s largest power generation company,has climbed 52 positions to secure the 433rd rank in Forbes’ “The Global 2000” List for 2023
- Energy transition platform Amp Energy India has secured up to $250 million (about ₹2,061 crore) from SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank).
- SBM Bank India unlocked exclusive, on-invitation access to the world of luxury with the launch of the SBM World Elite Metal Debit Card.
- Capital markets regulator Securities and Exchange Board of India (SEBI) has allowed mutual funds (MFs) houses to conduct repo transactions on corporate debt securities, commercial papers (CPs) and certificate of deposits (CDs), in a bid to boost growth of the corporate bond market.
- Insurance Regulator Insurance Regulatory and Development Authority of India (IRDAI) came out with draft guidelines for ‘Bima Vahaks (BV)‘, which seeks to set up a dedicated distribution channel at the level of gram panchayats to enhance insurance coverage and create awareness.
- Two-time Olympian and 1962 Asian Games gold medallist Gurbachan Singh Randhawa resigned as the chairman of Athletics Federation of India (AFI) Selection Committee after a tenure of 18 years owing to his “advancing age”.
- Uttam Lal has taken over as Director (Personnel) at India’s premier hydropower company, NHPC Limited.
- In a major bureaucratic reshuffle, the government of India (GoI) has appointed Pankaj Agrawal as the new Power Secretary
- Gujarat-based aerospace firm Azista BST Aerospace (ABA) launched its maiden satellite Azista BST Aerospace First Runner (AFR), also called ABA First Runner.
- The Indian team comprising 280 members including 198 athletes has left for Berlin, Germany to compete at the Special Olympics Summer Games
- In wrestling, India wrapped up their campaign in the U-17 Asian Wrestling Championships with one gold, three silver and three bronze medals on the final day in Bishkek, Kyrgyzstan
- Ministry of Youth Affairs and Sports (MYAS) Mission Olympic Cell (MOC) in the recent meeting approved the foreign training camp for Target Olympic Podium Scheme (TOPS) athletes Mirabai Chanu and Bindyarani Devi’s proposal to train in St. Louis, USA
- Global Wind Day 2023 is observed all over the world on 15th June
- On June 15th, every year the world commemorates World Elder Abuse Awareness Day