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CURRENT AFFAIRS : BANKING & FINANCE
RBI governor Shaktikanta Das honoured with the ‘Governor of the Year’ award at Central Banking Awards 2023, London
- The governor of the Reserve Bank of India (RBI), Shaktikanta Das was honoured with the title of ‘Governor of the Year’ for 2023 by Central Banking Awards 2023 in
- The award recognised his role as the RBI chief in managing inflation and skillfully handling India’s banking system during crises like COVID pandemic and global turmoil.
- With this award, Das became the second Central Bank governor to be honoured with the award after Raghuram Rajan, who won the title in 2015.
- Central Banking is an international economic research journal.
- He was recommended for the award by the publication in March 2023.
About Shaktikanta Das :
- Shaktikanta Das was born in Bhubaneswar, Odisha, India
- Das is a retired 1980 batch Indian Administrative Service (IAS) officer of Tamil Nadu cadre.
- He served as a member of the 15th Finance Commission and India’s Sherpa to the G20.
- He is serving as the current & 25th governor of the Reserve Bank of India (RBI).
Awards & Honors :
- He was conferred the ‘Central Banker of the Year, Asia-Pacific 2020’ award by the London based magazine-The Banker for his efforts to make the banking system more robust.
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
Fino Bank and Sequoia Funded Hubble to Introduce India’s First Spending Account
- Mumbai-based Fino Payments Bank has entered into a tie-up with Sequoia Capital-backed fintech Hubble to introduce India’s & world’s first spending account.
- The tie up, under Fino 2.0 initiative on building digital assets, strengthens the digital offerings of India’s only listed payments bank to enhance customer experience.
- The first of its kind spending account offering from a fintech in India and across the world is specifically designed for GenZ and millennial customers’ growing aspirations and lifestyle changes.
Key Highlights :
- Customers can park their funds, spend (on categories such as food ordering, shopping, travel, entertainment etc.) and save up to 10% on all purchases made from the account.
- Further, users can track spends across categories of over 50 brands that Hubble has partnered with and save up to ₹20,000 a year.
- The spending account is integrated with the bank’s digital savings account operated through its mobile app FinoPay users earn an interest rate of 2.75% per annum on the funds parked in the account.
About Fino Payments Bank Limited :
- Established : 2017
- Headquarters : Navi Mumbai, Maharashtra
- MD & CEO : Rishi Gupta
NPCI Partners with RING digital credit platform to integrate UPI Plug-in
- RING, India’s leading digital credit platform has partnered with National Payments Corporation of India (NPCI) to add its newly launched UPI Plug-in functionality to RING’s pre-existing suite of digital services.
- This partnership will help RING offer ‘Scan & Pay’ options to its existing customers and acquire new customers who use UPI as a preferred mode of payment.
Key Highlights :
- With this collaboration, the RING app will become a one-stop integrated payment and credit solution where a customer can avail credit and pay merchants across the country.
- UPI Plug-in offers a much swifter approach to provide inline consumer experience to Merchants and Fintechs.
- The UPI payment experience will allow RING users to create a UPI ID and link it to their existing bank accounts.
- Users can make UPI payments from their bank accounts linked to the RING app, by scanning any merchant’s QR code, increasing flexibility and enhancing user experience.
- Through this partnership, RING aims to strengthen its offerings and create a stronger customer value proposition.
About NPCI :
- Founded : 2008
- Headquarters : Mumbai, Maharashtra, India
- MD & CEO : Dilip Asbe
- The NPCI is an umbrella organization for operating retail payments and settlement systems in India.
- It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.
CURRENT AFFAIRS: NATIONAL NEWS
Shri Dharmendra Pradhan flags off Gabon’s first Agri-SEZ Project:
- Union Minister of Education and Skill Development and Entrepreneurship Shri Dharmendra Pradhan flagged off Gabon’s first Agri- SEZ project from New Delhi.
- The project will be implemented by the AOM group with Centurion University as the technical and knowledge partner.
- In the first phase of the program, 30 farmers and 20 B.Sc./M.Sc. Agri and B.Tech/M. Tech Engineering students from the Gajapati district, which is an Aspirational district of Odisha, will be travelling together as agri-technical and technical consultants for the agriculture SEZ which is being developed under this project.
- India-Africa relations have gone from strength to strength, recording more than 35 high level visits from India and more than 100 similar ones from Africa.
- Anti-colonial solidarity, diasporic goodwill, and the principle of ‘South-South’ cooperation, among others, are also playing a significant role in strengthening the partnership between India and the African continent
- The development partnership is a key pillar in India’s Africa policy. Being a trusted partner in the journey of socio-economic development, India has extended concessional loans of over US$ 12.3 billion to Africa and US$ 700 mn of grant assistance with development projects in various sectors.
Centre to spend Rs 15,000 crores during 3 years for improving basic facilities in remote tribal villages
- Tribal Affairs Minister Arjun Munda, the government is taking several steps for the welfare of the tribal people in the country.
- He said the focus has been laid on improving the socio-economic conditions of the particularly vulnerable tribal groups, providing quality education and affordable health facilities to the tribal in the last nine years.
- 15,000 crore rupees will be spent under the Pradhan Mantri Particularly Vulnerable Tribal Groups Development Mission in three years.
- He said this will improve basic facilities in the far-flung villages by focussing on clean drinking water, sanitation, improved access to education, health, road and telecom connectivity, and sustainable livelihood opportunities.
- He said, there are one lakh 12 thousand tribal-dominated villages in the country and the government has set a target to develop 36,000 villages as a model village.
- He said considerable progress has been made on this front.
- The Minister said an announcement has been made to appoint more than 38,000 teachers to provide quality education to the tribal population.
With 44.22 % Growth, Overall Coal Stock Position Touches 110.58 Million Tonne:
- In line with the vision of ‘Aatmanirbhar Bharat’, the Ministry of Coal is focused on ensuring the energy security of the Nation.
- The Ministry of Coal is actively working towards enhancing coal production and supply efficient transportation of coal to all the stakeholders.
- The overall coal stock position i.e., at Mines, TPPs and transit, as on 13th June .2023, reached 110.58 Million Tonne (MT), indicating a substantial increase of 44.22% as compared to the stock of 76.67 MT last year.
- This higher coal stock position indicates the commitment of maintaining an ample supply of coal by the Ministry of Coal.
- Additionally, the Pithead coal stock at Coal India Limited (CIL) stands at 59.73 MT, indicating a growth rate of 25.77% compared to the stock of 47.49 MT on 13.06.2022. This upward trend highlights effective stock management strategies and operational efficiency.
- The coal stock at Thermal Power Plants (TPPs) (DCB) on 01.04.2022 was 24.04 MT and 22.57 MT as on 13.06.2022, resulting in 1% dip.
- However, the coal stock at TPPs (DCB) on 1st April, 2023 was 34.5 MT and 34.5 MT on 13.06.2023, meaning no depletion of coal stocks in last two and half months of summer season.
- This has been possible by ensuring high growth rate of coal production and dispatch during this period.
- The Coal stock at TPPs (DCB) as on 13.06.2023 is 34.55 MT compared to last year, which was 22.57 MT, indicating a significant growth of about 53.1%.
Women 20 Summit commences at Mahabalipuram near Chennai:
- The third and final working group on W-20 began at Mahabalipuram near Chennai.
- The first session was on the road to achieving sustainable development goals, the intersection between women’s health gender equality social and economic development.
- Addressing the participants, Andrea Wojner, country representative UNFPA-India said that around the world 270 million people are without family planning, and there was a need to prevent maternal deaths.
- Mabel Bianco from Argentina said that women’s health should be considered important, and gender empowerment should be taken along with it.
- She said that little girls of six years of age should be able to learn about sexual abuse and become intelligent enough to speak about it.
- She said, family should play an important role in supporting the children when rights are talked about. Dr. Aparajitha Gogoi, National Coordinator, White Ribbon Alliance said that developing countries are concerned with sustainable development goals as financing them needs to be talked about.
- She said that good communication skills to highlight women and empowerment are interlinked to various issues.
- She said that private sector needs to play a more positive role in gender-specific planning.
Ministry Of Jal Shakti Launches the Unified Registration Portal For GOBARdhan
- A Unified Registration Portal for GOBARdhan launched by Union Jal Shakti Minister.
- It will act as a single repository for assessing investment and participation in the biogas/CBG sector on a pan-India basis.
- More importantly, it will streamline the process of setting up biogas plants/CBG in India.
- Any government, cooperative or private entity that intends to set up a Biogas/CBG/Bio CNG plant in India can obtain a registration number by enrolling in this integrated registration portal that has been launched.
- The registration number will enable them to get many benefits and assistance from the Ministries and Departments of the Government of India.
- States have been advised to get their CBG/biogas plant operators registered on the portal on priority basis for availing the existing and future assistance from the Central Government.
- Galvaniz4ing Organic Bio-Agro Resources Dhan (Gobardhan) is a flagship comprehensive initiative of the Government of India, which is based on a whole of government approach and aims to convert waste into wealth towards promoting circular economy.
- The Government of India intends to create a strong ecosystem for setting up Biogas/Compressed Biogas (CBG)/Bio-Compressed Natural Gas (CNG) plants to promote sustainable economic growth and promote a circular economy.
- Gobardhan, the nodal division of the Department of Drin king Water and Sanitation, Ministry of Jal Shakti, has developed this portal, which can be accessed at https://gobardhan.co.in.
- Gobardhan aims to generate wealth and energy by converting cattle dung, agricultural residues and other organic waste into biogas, CBG and bio-fertilizers.
- The initiative includes a whole gamut of schemes, programmes, policies to promote the conversion of organic waste like animal dung, agro-residues etc. to Biogas/CBG/Bio-CNG.
CURRENT AFFAIRS: AWARDS AND HONOURS
VP Jagdeep Dhankhar to confer fourth National Water Awards in New Delhi:
- Vice President Jagdeep Dhankhar will confer the fourth National Water Awards in New Delhi.
- The Jal Shakti Ministry has announced a total of 41 winners, covering 11 categories, including joint winners, for the 4th National Water Awards, 2022.
- Each award winner will be conferred with a citation and a trophy as well as cash prizes in certain categories.
- As part of the ongoing nationwide drive to realize the Government’s vision of a ‘Water Prosperous India’, the award focus on encouraging the good work and efforts made by various individuals and organizations.
- It seeks to create awareness among people about the importance of water and motivate them to adopt best water use practices.
CURRENT AFFAIRS: MOUS AND AGREEMENT
India and Nepal signed seven agreements in various fields
- India and Nepal signed seven agreements in various fields on June 2023.
- These fields include trade and commerce, cross-border petroleum pipelines, development of Integrated Check Posts and hydroelectric projects and payment mechanisms.
- The agreements were signed after delegation-level talks between the Prime Ministers of both countries.
- Delegation-level talks were held between Prime Minister Narendra Modi and Nepal Prime Minister Pushpa Kamal Dahal Prachanda in N ew Delhi.
- The Indian Railway cargo train from Bathnaha to Nepal Customs yard was jointly flagged off by both Prime Ministers.
- An integrated Check Post between Rupaidiha-Nepalgunj and Sunauli-Bhairahawa was also inaugurated by them.
- The foundation stone of the Motihari-Amlekhguj Oil Pipeline – Phase 2 project was laid.
- The construction work of the Gorakhpur-New Butwal sub-station 400 kv cross-border transmission line was initiated by them.
- The Prime Minister of Nepal is on a four-day official visit to India.
- He arrived in New Delhi on 31st May 2023.
- This is his first bilateral visit abroad after he assumed office in December 2022.
- Mr Prachanda will visit Ujjain and Indore on 02 June 2023.
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Hyundai Motor India signs Hardik Pandya as brand ambassador for Exter
- Hyundai Motor India Limited (HMIL), India’s first smart mobility solutions provider and largest exporter since inception, announced the cricketing youth icon – Hardik Pandya as its brand ambassador for its sports utility vehicle (SUV), Exter.
About Hardik Pandya :
- Hardik Pandya was born on 11 October 1993 in Surat, Gujarat.
- He played for the Baroda cricket team in domestic cricket and is captain of the Gujarat Titans in the Indian Premier League (IPL) whom he led to their maiden IPL title in the 2022 edition.
- He worked with over 12 brands including Monster Energy drink, Gulf Oil, William Lawson scotch, boAt, and FMCG player, Britannia, among others.
- According to brand valuation agency Kroll, in 2022, Hardik Pandya was worth $34.8 million in terms of brand value.
About HMIL :
- Founded : 6 May 1996
- Headquarters : Gurugram, Haryana, India
- MD & CEO : Unsoo Kim
Amitava Mukherjee gets 3 months extension as CMD of NMDC & NMDC Steel Limited
- The Ministry of Steel has given 3 months extension to Amitava Mukherjee, Director (Finance) of the National Mineral Development Corporation (NMDC) to hold the additional charge of Chairman and Managing Director (CMD) mining major NMDC and its disinvested company NMDC Steel Limited (NSL) from June 01, 2023 to Aug 31, 2023.
About Amitava Mukherjee :
- Amitava Mukherjee belongs to the 1995 Batch of Indian Railway Accounts Service (IRAS).
- He has been holding the additional charge as CMD of NMDC since March 31, 2023.
- Earlier, he was given additional charge as CMD of NMDC till May 31, 2023.
- Prior to joining NMDC, he was General Manager (Finance) in Rail Vikas Nigam Limited (RVNL).
- He received the National Award for outstanding services during the year 2006 during his tenure in Indian Railways.
About NMDC Limited :
- Founded : 1958
- Headquarters : Hyderabad, Telangana
- Chairman & Managing Director : N Sridhar
- NMDC Limited is a central public sector undertaking.
- It is under the ownership of the Ministry of Steel, Government of India.
About Ministry of Steel :
- Cabinet Minister : Jyotiraditya Scindia
- Minister of State : Faggan Singh Kulaste
CURRENT AFFAIRS : DEFENCE NEWS
IndiGo CEO Pieter Elbers appointed as the Chair-elect of IATA’s Board of Governors
- India’s preferred carrier, IndiGo announced that its Chief Executive Officer (CEO), Pieter Elbers has been elected as the chair-elect of the International Air Transport Association (IATA) Board of Governors.
- He will succeed present Chair, Yvonne Manzi Makolo, the CEO of Rwandair with effect from June 2024.
About Pieter Elbers :
- Elbers was born in Schiedam, in the province of South Holland.
- He is a Dutch airline executive who has served as the CEO of IndiGo since 2022.
- He had been president and CEO of the Netherlands’ flag carrier airline, KLM Royal Dutch Airlines, from 2014 to 2022.
About IATA :
- Founded : 19 April 1945
- Headquarters : Montreal, Canada
- The IATA is a trade association of the world’s airlines.
Naval Airfield Integrated Security System (NAISS) & Naval Anti-Drone System (NADS) upgraded at INS Dega, Visakhapatnam
- Flag Officer Commanding-in-Chief Eastern Naval Command Vice Admiral Biswajit Dasgupta inaugurated the indigenously designed and developed state-of-the-art Naval Airfield Integrated Security System (NAISS) and Naval Anti-Drone System (NADS) at Indian Naval Ship (INS) Dega in Visakhapatnam, Andhra Pradesh (AP).
- NAISS, developed by Bharat Electronics Limited, (BEL), is an AI-enabled multi-layered area security system while NADS, also developed by BEL, is an anti-drone system with the capability to detect, track, and destroy hostile drones in the vicinity of the airfield.
- The indigenously developed NAISS and NADS highlight Indian Navy’s focus towards innovative solutions and manufacturing that are aligned with the make-in-India and Atmanirbhar Bharat initiatives.
CURRENT AFFAIRS : ACQUISITIONS & MERGERS
IRDAI approved SBI Mutual Fund to acquire up to 10% stake in ICICI Lombard
- The Insurance Regulatory and Development Authority of India (IRDAI) gave its approval to SBI Mutual Fund (SBI MF), along with its group entities, to acquire up to 10% stake in ICICI Lombard General Insurance Company Limited (ICICI Lombard).
- Currently, SBI Mutual Fund, through various schemes, already holds a 4.62% stake in ICICI Lombard General Insurance.
Key Highlights :
- The IRDAI had advised SBI Mutual Funds to ensure that the total shareholding of SBI Mutual funds along with its group entities or body corporate under the same management shall not exceed 10% of the total paid-up equity share capital of the company.
- The approval of the IRDAI is valid for a period of 1 year from the date of the approval letter.
About ICICI Lombard General Insurance Co Ltd :
- Established : 2001
- Headquarters : Mumbai, Maharashtra, India
- MD & CEO : Bhargav Dasgupta
- It is engaged in general insurance, reinsurance, insurance claims management and investment management.
About SBI Mutual Fund :
- Founded : 1987
- Headquarters : Mumbai, Maharashtra, India
- MD & CEO : Mr. Shamsher Singh
- SBIFMPL is a joint venture between the State Bank of India (SBI), an Indian public sector bank, and Amundi, a European asset management company.
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.
CURRENT AFFAIRS: SPORTS NEWS
India’s Esow Alben wins bronze medal at Finale Bahnen-Tournee 2023 cycling
- India’s Esow Alben won bronze medal in Keirin at Finale Bahnen-Tournee 2023 cycling.
- Indian cyclist Esow Alben won the bronze meda l in the Elite Men’s Keirin event at the UCI Class 1 Event-Finale Bahnen-Tourne 2023 cycling competition in Dudenhofen, Germany.
- He finished behind world championships medallist Mark Jurczyk of Germany and Sébastien Vigier of France.
- In 2022, the 22-year-old was the first cyclist from India to participate in the UCI Champions League.
- He is the first Indian to win medal at the 2018 UCI Junior Track Cycling World Championships.
Daily CA One- Liner: June 16
- The governor of the Reserve Bank of India (RBI), Shaktikanta Das was honoured with the title of ‘Governor of the Year’ for 2023 by Central Banking Awards 2023 in
- Mumbai-based Fino Payments Bank has entered into a tie-up with Sequoia Capital-backed fintech Hubble to introduce India’s & world’s first spending account.
- RING, India’s leading digital credit platform has partnered with National Payments Corporation of India (NPCI) to add its newly launched UPI Plug-in functionality to RING’s pre-existing suite of digital services.
- Hyundai Motor India Limited (HMIL), India’s first smart mobility solutions provider and largest exporter since inception, announced the cricketing youth icon – Hardik Pandya as its brand ambassador for its sports utility vehicle (SUV), Exter.
- The Ministry of Steel has given 3 months extension to Amitava Mukherjee, Director (Finance) of the National Mineral Development Corporation (NMDC) to hold the additional charge of Chairman and Managing Director (CMD) mining major NMDC and its disinvested company NMDC Steel Limited (NSL) from June 01, 2023 to Aug 31, 2023.
- India’s preferred carrier, IndiGo announced that its Chief Executive Officer (CEO), Pieter Elbers has been elected as the chair-elect of the International Air Transport Association (IATA) Board of Governors.
- Flag Officer Commanding-in-Chief Eastern Naval Command Vice Admiral Biswajit Dasgupta inaugurated the indigenously designed and developed state-of-the-art Naval Airfield Integrated Security System (NAISS) and Naval Anti-Drone System (NADS) at Indian Naval Ship (INS) Dega in Visakhapatnam, Andhra Pradesh (AP).
- The Insurance Regulatory and Development Authority of India (IRDAI) gave its approval to SBI Mutual Fund (SBI MF), along with its group entities, to acquire up to 10% stake in ICICI Lombard General Insurance Company Limited (ICICI Lombard).
- Union Minister of Education and Skill Development and Entrepreneurship Shri Dharmendra Pradhan flagged off Gabon’s first Agri- SEZ project from New Delhi
- Tribal Affairs Minister Arjun Munda, the government is taking several steps for the welfare of the tribal people in the country
- In line with the vision of ‘Aatmanirbhar Bharat’, the Ministry of Coal is focused on ensuring the energy security of the Nation.
- The third and final working group on W-20 began at Mahabalipuram near Chennai.
- A Unified Registration Portal for GOBARdhan launched by Union Jal Shakti Minister.
- Vice President Jagdeep Dhankhar will confer the fourth National Water Awards in New Delhi
- India and Nepal signed seven agreements in various fields on June 2023
- India’s Esow Alben won bronze medal in Keirin at Finale Bahnen-Tournee 2023 cycling