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CURRENT AFFAIRS : BANKING & FINANCE
SEBI Issues Guidelines On Product Offerings By Online Bond Platform Providers
- The Capital markets regulator Securities and Exchange Board of India (SEBI) restricted online bond platform providers (OBPPs) from offering products other than listed debt securities on their Online Bond Platform (OBP).
What are OBPPs?
- The online bond platform provider means any person operating or providing such a platform.
What is OBP?
- “Online bond platform” means any electronic system, other than a recognised stock exchange or an electronic book provider platform, on which the debt securities which are listed or proposed to be listed, are offered and transacted.”
Key Highlights :
- Under the rules, OBPPs need to register themselves as stock brokers in the debt segment of the stock exchange.
- OBPs offer an avenue for investors, particularly non-institutional investors to access the bond market.
- The holding company, subsidiary, or associate of an online bond platform provider will not utilise the name, brand name, or any name resembling that of the online bond platform provider for offering products and services that are not regulated by a financial sector regulator.
- This comes after SEBI noted that a few OBPPs have commenced operations and observed that certain OBPPs continue to offer products other than listed debt securities and debt securities proposed to be listed through a public offering on their platforms.
- Also, they are offering unlisted bonds on a separate platform or website and have not divested such offerings.
- Moreover, certain OBP providers have given a link on the online bond platform to another platform for transacting in unlisted bonds and other products.
- Such practices are in contravention of NCS (Issue and Listing of Non-Convertible Securities) Regulations.
- In February 2023 SEBI extended the timeline by 3 weeks beginning February 9, 2023 for entities, operating as online bond platform providers, to make an application for registration as stock brokers.
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 female head of SEBI)
- SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance , GoI.
Paytm established UPI SDK for Seamless Online Merchant Payments
- Paytm has introduced a UPI software development kit (SDK) for customers to make payments to online merchants without any failure of the system.
- UPI SDK has also assured fail-proof transactions.
Key Highlights :
- Paytm UPI SDK will let users pay directly from bank accounts through UPI PIN without having to jump between merchant and payment app.
- Along with Paytm UPI Lite, the company is enhancing two-sided payments, for both merchants and customers.
- The Paytm UPI SDK is the smallest and lightest in the market, packed with low-code integration, fully customisable UI themes and priority customer support.
- Currently, Paytm UPI SDK supports transactions via UPI-linked bank accounts and RuPay credit cards.
- Soon, it will support UPI Lite to eliminate the possibility of failed payment attempts.
About Paytm :
- Founded : August 2010
- Headquarters : Noida, Uttar Pradesh, India
- Founder & CEO : Vijay Shekhar Sharma
CURRENT AFFAIRS: NATIONAL NEWS
NHAI Launches ‘Knowledge Sharing Platform’ for Inclusive Development of National Highways
- NHAI has launched a ‘Knowledge Sharing’ platform For sharing of knowledge and innovative best practices.
- Hosted on the NHAI website, this initiative will help the authority to collaborate with experts and citizens who want to share knowledge and insights related to topics such as road design, construction, road safety, environment sustainability and related fields.
- The platform will encourage sharing of best practices from around the world and will contribute towards holistic development of the National Highway infrastructure in the country.
- The best practices can be uploaded on the NHAI web portal https://ksp.nhai.org/kb/ in the form of video clips, powerpoint presentation and .PDF files.
- The uploaded information on this platform will be reviewed by NHAI officials and will be evaluated for implementation.
- With the help of innovation and modern technology, NHAI is developing National Highway infrastructure at a rapid pace.
- Apart from innovative use of recycled materials such as fly-ash and plastic waste, NHAI is also encouraging use of Recycled Asphalt (RAP) and Recycled Aggregates (RA) in the National Highway construction to promote sustainable and eco-friendly practices.
- With the development of State-of-the-art Tunnels, Modern bridges, wildlife corridors and Expressways, it is important for National Highway infrastructure development to have wider participation.
- The knowledge sharing platform will encourage experts and citizens to share best practices and contribute towards Nation Building.
Health Minister Mansukh Mandaviya chairs high-level meet to review preparedness amid heatwave across country
- Health and Family Welfare Minister Mansukh Mandaviya chaired a high-level meeting for reviewing the public health preparedness regarding heat waves across the country.
- Briefing media after the meeting in New Delhi, Dr. Mandaviya said, it was decided that a five-member team of the Health Ministry, the India Meteorological Department, and the National Disaster Management Authority will visit the states which are affected by the heat waves.
- Odisha, Chattisgarh, West Bengal, Telangana, Bihar, and Jharkhand are now witnessing heat waves conditions and a virtual meeting will be held tomorrow with Health Ministers and State Disaster Management Authorities officials of these states.
Bureau of Indian Standards makes license mandatory for 24 footwear products from 1st July 2023
- The Bureau of Indian Standards, BIS license will be mandatory for 24 footwear products from the 1st of next month(July 2023).
- Addressing media in New Delhi, Director General, BIS, Pramod Kumar Tiwari highlighted the importance of the Quality Control Orders issued recently by the Government for footwear and other products.
- BIS Licence will be mandatory for the manufacturing, importing or selling of products under these Quality Control Orders.
- Tiwari said the standards for footwear products are developed in consultation with trade and industry bodies, consumer organizations and representatives of various stakeholder groups to ensure quality and authenticity.
- In order to make compliance convenient for small-scale and micro-scale industries, the implementation date will be the 1st of January next year.
- The government recently announced an 80 percent cut on testing charges for footwear products under the Quality Control Orders for the certified start-ups and micro industrial units.
About BIS:
- Founded: 23 December 1986
- Headquarters: Delhi
- Director General: Pramod Kumar Tiwari
CURRENT AFFAIRS : INTERNATIONAL NEWS
India, Australia add 15 new areas for talks on Comprehensive Economic Cooperation Agreement
- India and Australia have decided to expand the negotiations on the Comprehensive Economic Cooperation Agreement (CECA) by including 15 more areas like agri-tech, critical minerals, space and sports which have never been part of any trade deal that India has been part of.
- For the first time, these new segments would become part of a trade pact being negotiated by India.
- The third round of negotiations on the comprehensive trade agreement with Australia are currently underway and end on June 16, 2023.
- The next round of talks are scheduled for July,2023.
- India and Australia have already implemented an interim trade pact (Economic and Cooperation Agreement) in December, 2022.
- On Indo-Pacific Economic Framework for Prosperity (IPEF), Additional secretary in the department of commerce Rajesh Agrawal stated that India has an observer status on the trade pillar and it is observing the developments “very” closely.
About IPEF :
- IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022 in Tokyo.
- The framework is structured around 4 pillars relating to trade, supply chains, clean economy and fair economy (issues like tax and anti-corruption).
- India has joined all the pillars except the trade one.
- Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US and Vietnam are members of the bloc.
- Members of the 14-nation bloc IPEF have ‘substantially’ concluded the negotiations on the supply chains agreement.
About Australia :
- Prime Minister : Anthony Albanese
- Capital : Canberra
- Currency : Australian dollar
CURRENT AFFAIRS : STATE NEWS
Karnataka Government launches free power scheme – ‘Gruha Jyothi Scheme’
- The Government of Karnataka has launched a free power scheme named ‘Gruha Jyothi scheme’ for providing free electricity up to 200 units a month.
- The beneficiaries can register for the scheme on Seva Sindhu portal under a special custom-made page for the scheme (http://sevasindhugs karnataka gov.in/)”
- This was one of the election promises of the Congress ahead of the 2023 state assembly election.
The Gruha Jyoti scheme is eligible for the following consumers :
- All residential customers of electricity in Karnataka, with a limit of 1 metre per household and consumption of less than 200 units.
- Only residential households, and not commercial setups, will be eligible for the free electricity scheme.
- Customers must link their customer ID/ account ID to Aadhaar card and clear all remaining dues to apply for the scheme.
- Karnataka CM Siddaramaiah also stated that the scheme also extends to tenants living on rent if their electricity consumption matches the scheme’s criteria.
- The beneficiaries will get a ‘zero bill’ starting August 1, 2023 if usage is within their entitlement.
- The scheme is expected to aid electricity bill relief for 96% consumers in Karnataka.
- For more information, consumers can approach the nearest electricity office or call the 24×7 helpline number 1912.
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)
Uttar Pradesh government to launch ‘Didi Cafe’ to uplift women
- “Didi Cafe” is coming up in Uttar Pradesh (UP), which will provide cheap food and
- A strategy has been made to start ‘Didi Cafe’ in 17 municipal corporation cities including Mathura, Firozabad and Vrindavan in Agra division.
Key Highlights :
- This Didi Cafe will only be maintained by women’s self-help groups, which will provide access to low-cost meals, snacks, and other facilities in areas where women are employed through these canteens.
- The effort is part of the Centre’s goal of empowering women associated with self-help groups set up through the National Urban Livelihoods Mission (NULM).
- A pilot experiment is already underway in Varanasi, Uttar Pradesh (UP).
- In the first phase, ‘Didi Cafe’ will be run in the municipal corporations of Agra division, as a result of which the authorities will be able to chalk out future strategies.
- Mathura, Vrindavan, Firozabad, Lucknow, Ayodhya, Prayagraj, Gorakhpur, Kanpur, Jhansi, Ghaziabad, Bareilly, Meerut, Aligarh, Moradabad, Saharanpur, and Shahjahanpur may emulate Agra after successful implementation of the project.
About UP :
- Governor : Anandiben Patel
- Chief Minister : Yogi Adityanath
- Capital : Lucknow
- National Park : Dudhwa National Park
- Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Senior IPS Officer Ravi Sinha Appointed As Research and Analysis Wing ‘s Chief
- A senior Indian Police Service (IPS) officer of the Chhattisgarh cadre, Ravi Sinha, has been appointed as the new chief of India’s external intelligence Research and Analysis Wing or R&AW chief.
- The Ministry of Personnel has approved his appointment as Secretary RAW for a tenure of 2 years.
- He will succeed Samant Goel who completes his four-year stint on June 30, 2023.
- Goel was appointed as the chief of RAW in 2019 and received two extensions of one year each in 2021 and 2022.
- In his new role, Sinha is expected to integrate technological and human intelligence dimensions to address the challenges of today’s times
About Ravi Sinha :
- He is an alumnus of St Stephen’s College in Delhi.
- He has been serving as the head of the operational division in RAW for the last 7 years.
- Sinha is reportedly well-versed in the issues and topics of Jammu and Kashmir, the Northeast and Left Wing Extremism (LWE).
- He has vast experience in handling matters related to Pakistan, Myanmar and Kashmir apart from the Khalistan issue.
- Currently, Sinha is the special secretary at the Cabinet Secretariat (this is the number two position in RAW.)
About RAW :
- Established : 21 September 1968
- Headquarters : New Delhi, Delhi
- The RAW is the foreign intelligence agency of India.
- The head of RAW is designated as Secretary (Research) in the Cabinet Secretariat.
Primary function :
- To gather foreign intelligence, counter-terrorism, counter-proliferation, advising Indian policymakers, and advancing India’s foreign strategic interests
CURRENT AFFAIRS : ACQUISITIONS & MERGERS
Max Life Insurance picks up 2.99% stake in Capital Small Finance Bank for ₹49.5 crores
- Max Life Insurance Company Limited (Max Life), a subsidiary of Max Financial Services, has picked a 2.99% equity stake in Capital Small Finance Bank (CSFB) for a consideration of ₹49.50 crores.
- Towards this investment, as many as 10,57,700 equity shares of CSFB of ₹10 each at a premium of ₹458 per equity share has been allotted to Max Life.
- As of May 31, 2023, this strategic investment has increased the Capital Adequacy Ratio (CAR) of CSFB by more than 1%, raising it to 20.77%.
About Max Life Insurance Company Limited :
- Founded : 2001
- Headquarters : New Delhi, India
- MD & CEO : Prashant Tripathy
- It is a 80:20 joint venture (JV) between Max Financial Services and Axis Bank.
About Capital Small Finance Bank :
- Founded : 2016
- Headquarters : Jalandhar, India
- MD & CEO : Sarvjit Singh Samra
- Capital Small Finance Bank (erstwhile Capital Local Area Bank) is India’s first small finance bank founded in April 2016 as a microfinance lender.
CURRENT AFFAIRS : DEFENCE NEWS
DRDO & Indian Navy demonstrate command and control of Tapas Unmanned Aerial Vehicle
- The Defence Research and Development Organisation (DRDO) and the Indian Navy successfully showcased the transfer of command and control capabilities of the Tapas Unmanned Aerial Vehicle (UAV).
- The Tapas UAV took off from the Aeronautical Test Range (ATR) in Chitradurga and covered a distance of 285 kilometres to reach the Karwar naval base.
Key Highlights :
- The demonstration involved commanding the UAV from a distant ground station to the onboard Indian Naval Ship (INS) Subhadra, a warship situated 148 kilometres away from the Karwar naval base.
- During the demonstration, the Tapas UAV operated flawlessly at an altitude of 20,000 feet above sea level (AMSL).
- It completed a 3-hour and 30-minute flight, with the INS Subhadra assuming control of the UAV’s operations for a duration of 40 minutes.
- To facilitate the seamless control of the UAV, one Ground Control Station and two Ship Data Terminals were installed on board the INS Subhadra.
- Following the successful trial, the Tapas UAV safely landed back at the ATR.
About Tapas UAV :
- The Tapas UAV, developed by DRDO, is a Medium Altitude Long Endurance (MALE) UAV capable of operating at altitudes of up to 28,000 feet with an endurance of over 18 hours.
- It was publicly showcased during its first flight at Aero India 2023 in Bengaluru, Karnataka.
- It was designed to fulfil the Intelligence, Surveillance, Target Acquisition, Tracking & Reconnaissance (ISTAR) requirements of the tri-services.
- The Tapas UAV can effectively operate in both day and night conditions.
- The UAV can be controlled remotely and also has the ability to execute pre-programmed flight plans autonomously with precision and flexibility.
- The TAPAS UAV is equipped with advanced sensors and cameras, and can capture high-resolution images and videos.
About DRDO :
- Founded : 1958
- Headquarters : New Delhi, Delhi, India
- Chairman : Dr Samir V Kamat
- The DRDO is the premier agency under the Department of Defence Research and Development in the Ministry of Defence (MoD) of the Government of India (GoI).
About Indian Navy :
- Headquarters : New Delhi, Delhi
- Chief of Defence Staff : General Anil Chauhan
- Chief of the Naval Staff : Admiral R. Hari Kumar
CURRENT AFFAIRS: SPORTS NEWS
Bhavani Devi becomes the first Indian to win bronze medal at Asian Fencing Championships 2023 in China
- Olympian C. A. Bhavani Devi has created history by defeating reigning World Champion Misaki Emura in the Asian Fencing Championship quarterfinal and securing India its first-ever medal at the event.
- The Indian fencer stunned the world number one 15-10 to enter the women’s sabre semifinal.
- Bhavani, however, lost to Uzbekistan’s Zaynab Dayibekova in the semifinals, 15-14, securing a bronze medal.
- Union Minister for Youth Affairs & Sports, Anurag Singh Thakur has congratulated Bhavani Devi for her victory.
Taipei Open Badminton tournament has begun in Taiwan
- The Taipei Open Badminton tournament has started at Taipei in Taiwan.
- HS Prannoy will lead India’s challenge at the tournament.
- The other Indians in the Men’s singles are Meiraba Luwang Maisnam, Kiran George, Sathish Kumar Karunakaran, Mithun Manjunath and S. Sankar Muthusamy Subramanian.
- London Olympic bronze-medallist Saina Nehwal will look to regain her form in the Women’s singles alongside compatriots Malvika Bansod, Aakarshi Kashyap and Ruthvika Shivani Gadde.
- Saina will be up against Thailand’s Pornpicha Choeikeewong in the opening round, while Malvika will face third seed Beiwen Zhang.
Tajinderpal Singh Toor sets new Asian shotput record at Inter-State Championships in Bhubaneswar
- India’s top shot putter, Tajinderpal Singh Toor has set a new Asian shotput record at the Inter-State Championships in Bhubaneswar.
- The 28-year-old athlete, representing Punjab, shattered his own previous Asian record with a massive throw of 21.77 metres.
- Toor surpassed his own record of 21.49 metres, which he had set in 2021 in Patiala.
- His outstanding performance also placed him in the ninth position on the list of the longest shotput distances recorded worldwide this season.
- The Inter-State meet is the qualifier for the Asian Games.
- By surpassing the qualifying mark of 21.40 metres, Toor has secured his spot in the upcoming World Championships.
- Additionally, he also qualified for the Asian Games by meeting the required distance of 19 metres.
CURRENT AFFAIRS : OBITUARIES
Former JNU professor & Sociologist Imtiaz Ahmad passes away
- Renowned sociologist, author and former professor of Jawaharlal Nehru University (JNU) in India Imtiaz Ahmad passed away at the age of 83.
About Imtiaz Ahmad :
- Ahmad’s book, Caste and Social Stratification Among Muslims in India, is celebrated as pioneering work in the field.
- He worked with keen interest in social anthropology and taught Sociology, Political Science and Islamic Studies in various universities in India and abroad.
- He worked as a Senior Research Analyst with the UNESCO Research Centre.
- Ahmad joined JNU as associate professor in political sociology in 1972.
- He became a professor in the department in 1983 and taught there for three decades.
- Among his numerous publications are those which throw light on Muslim empowerment, minority rights, the role of education among Muslims, how Islamic ideologies mesh with social realities, how Muslim women are studied in India and communalism.
- He also wrote critically on the Gujarat riots of 2002 in particular and communal politics in general.
- He was a visiting professor at University of Missouri, USA, Institute of Higher Studies, Paris, Institute of Refugee Studies, York University, Canada, University of Sherbrooke, Canada and International University of People’s Initiatives in Peace, Roverato, Italy.
CURRENT AFFAIRS: IMPORTANT DAYS
World Hydrography Day 2023: June 21
- Every year on June 21st, World Hydrography Day is commemorated to promote awareness about the importance of hydrography, safe navigation, and maritime environmental conservation.
- The theme this year is “Hydrography – Underpinning the Digital Twin of the Ocean”.
- The International Hydrographic Bureau was founded in 1921 with the goal of providing a forum for states to confer on issues such as safe navigation, technical standards, and the conservation of the maritime environment.
- In 1970, the name was changed to the International Hydrographic Organization (IHO).
- In 2005, the United Nations General Assembly passed a resolution calling for the International Hydrographic Organization to commemorate World Hydrography Day on June 21st.
- The international commemoration of World Hydrography Day began in 2006.
- The day honors hydrographers’ efforts and raises awareness about the vital importance of hydrography in people’s lives.
International Yoga Day 2023: June 21
- Every year on the 21st of June, International Yoga Day is commemorated to create awareness about the relevance and advantages of yoga in everyone’s life.
- The theme of International Yoga Day 2023 is ‘Yoga For Vasudhaiva Kutumbakam’.
- On December 27, 2014, The Prime Minister proposed that the UN General Assembly commemorate International Yoga Day with the goal of boosting public awareness about the relevance of yoga around the world.
- Finally, on December 11, 2014, the United Nations General Assembly recognized International Yoga Day, and 170 member states accepted the proposed draught resolution.
- On June 21, 2015, the first International Yoga Day was observed all around the world.
World Music Day 2023: June 21
- On 21st June of this current year World Music Day 2023 is celebrated all over the globe to celebrate music among the public.
- On June 21, World Music Day, also known as the Fete de la Musique in French, is then observed.
- Fête de la Musique was held in Paris in 1982 to commemorate World Music Day.
- This day was arranged by two members of the French Minister of Culture, Jack Lang, a French politician, and Maurice Fleuret, a composer, music journalist, radio producer, and arts administrator.
- Maurice Fleuret was asked by Jack Lang to become Director of Music and Dance at the French Ministry of Culture.
- Maurice Fleuret conducted research on musical practice and evolution.
- Following that, he investigated the French population, discovering that one out of every two individuals was interested in learning to play musical instruments.
- As a result, he began to mark the Summer Solstice as World Music Day in order to recognize the people and their interests.
- Maurice Fleuret researched the cultural habits of the French and discovered that one out of every two young people played a musical instrument.
- He intended to get people out of their houses and into the streets by proposing that the summer solstice (June 21) be designated as World Music Day.
Daily CA One- Liner: 21 June
- The Capital markets regulator Securities and Exchange Board of India (SEBI) restricted online bond platform providers (OBPPs) from offering products other than listed debt securities on their Online Bond Platform (OBP).
- Paytm has introduced a UPI software development kit (SDK) for customers to make payments to online merchants without any failure of the system.
- NHAI has launched a ‘Knowledge Sharing’ platform For sharing of knowledge and innovative best practices
- Health and Family Welfare Minister Mansukh Mandaviya chaired a high-level meeting for reviewing the public health preparedness regarding heat waves across the country.
- The Bureau of Indian Standards, BIS license will be mandatory for 24 footwear products from the 1st of next month.
- India and Australia have decided to expand the negotiations on the Comprehensive Economic Cooperation Agreement (CECA) by including 15 more areas like agri-tech, critical minerals, space and sports which have never been part of any trade deal that India has been a part of.
- The Government of Karnataka has launched a free power scheme named ‘Gruha Jyothi scheme’ for providing free electricity up to 200 units a month.
- “Didi Cafe” is coming up in Uttar Pradesh (UP), which will provide cheap food and
- A senior Indian Police Service (IPS) officer of the Chhattisgarh cadre, Ravi Sinha, has been appointed as the new chief of India’s external intelligence Research and Analysis Wing or R&AW chief.
- Max Life Insurance Company Limited (Max Life), a subsidiary of Max Financial Services, has picked a 2.99% equity stake in Capital Small Finance Bank (CSFB) for a consideration of ₹49.50 crores.
- The Defence Research and Development Organisation (DRDO) and the Indian Navy successfully showcased the transfer of command and control capabilities of the Tapas Unmanned Aerial Vehicle (UAV).
- Olympian C. A. Bhavani Devi has created history by defeating reigning World Champion Misaki Emura in the Asian Fencing Championship quarterfinal and securing India its first-ever medal at the event.
- The Taipei Open Badminton tournament has started at Taipei in Taiwan
- India’s top shot putter, Tajinderpal Singh Toor has set a new Asian shot put record at the Inter-State Championships in Bhubaneswar.
- Renowned sociologist, author and former professor of Jawaharlal Nehru University (JNU) in India Imtiaz Ahmad passed away at the age of 83.
- Every year on June 21st, World Hydrography Day is commemorated to promote awareness about the importance of hydrography, safe navigation, and maritime environmental conservation.
- Every year on the 21st of June, International Yoga Day is commemorated to create awareness about the relevance and advantages of yoga in everyone’s life.
- On 21st June of this current year World Music Day 2023 is celebrated all over the globe to celebrate music among the public