Daily Current Affairs June 25 2022

 

CURRENT AFFAIRS: NATIONAL NEWS

CABINET APPROVALS:

(a) Cabinet approves Agreement between GoI and UN on a ‘Way Finding Application’ to be used in the Palais des Nations, UNOG:

• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, has approved the proposal for signing of an agreement between the Government of India and the United Nations on a ‘Way Finding Application’ to be used in the Palais des Nations, United Nations Office at Geneva (UNOG).
• The United Nations Office at Geneva (UNOG), consisting of five buildings and 21 floors, is housed at the historic Palais des Nations.
• A large number of delegates, members of civil society, and the general public visit UNOG to participate in various meetings and conventions.

About the Project:

• The project of development of ‘Way Finding Application’ has been conceptualized aa s donation from the Government of India and the o UN on the occasion of its 75th anniversary in 2020.
• The estimated financial implication of the development deployment and maintenance of the App is $ 2 Million.
• The project consists of the development deployment and maintenance of a software-based ‘Way Finding Application’ to facilitate navigation in the Palais des Nations premises of UNLG.
• The development of the App has been entrusted to the Centre for Development of Telematics (C-DoT), an autonomous telecom Research & Development Centre of the Department of Telecommunications (DoT), Government of India.
• The project will be a significant contribution from the Government of India to the UN.

About UNOG:

• UNOG is located at Palais des Nations in Geneva, Switzerland.
• It serves as the representative office of the Secretary-General in Geneva.
• It is the biggest department of the United Nations Secretariat outside of headquarters in New York.

(b) Union Cabinet approves Agreement on Cooperation in the Field of Youth Work among the SCO Member States

• The Cabinet was apprised of the Agreement signed among the Shanghai Cooperation Organisation, SCO, member states on cooperation in the field of youth work among the authorized bodies of the member states of SCO.
• Consequent to the adoption of the agreement on 17th September last year by the member states on cooperation in the field of youth work, the agreement was signed by the Indian Minister of Youth Affairs and Sports.
• The official working language of the SCO Secretariat is Russian and Chinese.
• The objective of the agreement is to strengthen mutual trust, friendly relations, and cooperation among young people of SCO member States.
• Recognizing the importance of ensuring the development of youth cooperation as an element of deepening friendly relations among the SCO Member States.
• Seeking to further improve the conditions for youth cooperation based on international experience.

(c) Cabinet approves MoA by India for the establishment of BIMSTEC Technology Transfer Centre at Colombo, Sri Lanka:

• The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved a Memorandum of Association (MoA) by India for the establishment of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Technology Transfer Facility (TTF) was signed by the BIMSTEC member countries at the 5th BIMSTEC Summit held at Colombo, Sri Lanka.
• The main objectives of the BIMSTEC TTF are to coordinate, facilitate and strengthen cooperation in technology transfer among the BIMSTEC Member States by promoting the transfer of technologies, sharing of experiences and capacity building.
• The TTF shall have a Governing Board and the overall control of activities of the TTF shall be vested in the Governing Board.
• The Governing Board shall consist of one nominee from each Member State.
• The expected outcomes of the BIMSTEC TTF are:
• Databank of technologies available in BIMSTEC Countries,
• Repository of information on good practices in the areas of technology transfer management, standards, accreditation, metrology, testing, and calibration facilities,
• Capacity building, sharing of experiences and good practices in development, and
• Transfer and use of technologies among BIMSTEC countries.

(d) CCEA approves grant of the moratorium to Cochin Port Authority on repayment of GoI loans for 3 years:

• Cabinet Committee on Economic Affairs has approved a moratorium to Cochin Port Authority on repayment of Central government loans amounting to over 446 crore rupees for three years.
• The moratorium has been approved for 2020-21, 2021-22, and 2022-23.
• The amount was to be repaid in ten installments commencing from 2018-19.
• However, Cochin Port Authority could pay the installments of 2018-19 and 2019-20 only.
• From 2020-21, the traffic was badly impacted due to the Covid-19 pandemic which adversely impacted the cash inflow.
• As a result, Cochin Port could not pay the installments of 2020-21 and 2021-22.

Union Minister unveiled Seismology Observatory in Udhampur:

• The Seismology Observatory in the Dandayal neighborhood of the Udhampur district was formally inaugurated by Jitendra Singh, Union Minister for Jammu and Kashmir.
• The third such Center was established in J&K for 20 lakh rupees by the Ministry of Earth Sciences.
• India is on the approach of becoming a significant force in the growth and understanding of seismology.
• These observatories have been built up in J&K, especially in South and North Kashmir, which lies in the seismic zone.

Key Points:

• The observatory will gather a thorough seismic record for the districts of Udhampur, Doda, Kishtwar, Ramban, and many more.
• The federal government intends to open 152 earthquake observatories over the following four months, including three more in the Kashmir region, according to Dr. Jitendra Singh.
• Over the following five years, 100 more such seismological centers will open around the country, enhancing the collecting and monitoring of real-time data.

High carbon emitters to receive incentives to reduce footprint:      

• India is putting up several policies to support the construction of carbon capture facilities by high carbon emission industries including steel, cement, and thermal plants.
• The utilization of viability gap finance, carbon credits, or production-linked incentive programs might all be employed as incentives.
• The government may issue carbon credits that may be traded on carbon markets or a PLI program that links incentives to how much carbon is captured and utilized.

Key Points:

• The nation’s policy think-tank, Niti Aayog, will soon publish a policy prescription for carbon capture and use of carbon dioxide generated by the industry as part of the goal to attain Net-Zero by 2070.
• 6–10% of total carbon dioxide emissions come from these businesses.
• For the carbon dioxide that polluting companies release to be caught, used, and stored for a range of industrial applications, several ways are being investigated to incentivize them to develop carbon capture facilities.

RPF rescues 150 girls/women during pan India drive “Operation Mahila Suraksha”:

• Railway Protection Force (RPF) and frontline railway staff are relentlessly working to ensure safe & secure travel of women over the Indian railways.
• Dedicated to this objective of women’s security a pan India drive “Operation Mahila Suraksha” was launched from 3rd to 31st May 2022.
• During this drive, RPF arrested more than 7000 persons who were traveling unauthorizedly in the coaches reserved for women.
• RPF also rescued 150 girls/women from becoming the victims of human trafficking.
• To provide enhanced safety and security to lady passengers traveling by trains for their entire journey a pan India initiative “Meri Saheli” is also operational.

Key Points:

• 283 teams (covering 223 stations) of trained Mahila officers and personnel with an average total deployment of 1125 lady RPF personnel per day, are deployed across the Indian railways who interacted with more than 2 Lakh 25 thousand ladies during this period and provided them end to end security.
• Train escort duties with a mixed composition of male & female RPF personnel were also widely deployed during this period.
• To educate the rail users regarding their safety and Dos & Don’ts during their journey, 5742 awareness campaigns were organized.

Centre to set up model schools, to be called ‘PM Shri schools:

• Union education minister Mr. Dharmendra Pradhan announced that the government is in the process of establishing model schools that will be called ‘PM Shri Schools’.
• PM Shri Schools will be the laboratory of National Education Policy (NEP) 2020.

Attendees:

• Among those present at the conference were Gujarat chief minister Bhupendra Patel, Goa chief minister Pramod Sawant, union minister of state for education and skill development, education ministers of several states, chairperson of the steering committee for developing a new National Curriculum Framework K Kasturirangan and senior officials from the education ministry and state governments.

Key Points:

• The minister highlighted the 5+3+3+4 approach of NEP covering pre-school to secondary, emphasis on ECCE, teacher training & adult education, integration of skill development with school education, and prioritizing learning in mother tongue which are steps for preparing global citizens of the 21st century.

‘Vivatech 2020’ Conference: India recognized as ‘country of the year’:

• India has been named the “nation of the year” at Europe’s largest startup conference, “Vivatech 2020.”
• Being chosen “nation of the year” at Vivatech 2020 is a great honor for India.
• This is a result of what Indian startups have given the globe.
• This is how Indian startups are recognized.
• Ashwini Vaishnav, the minister of railways, communications, electronics, and information technology, opened the India pavilion at the Vivatech 2020 technology expo in Paris, France.
• With government assistance, some 65 start-ups from India will attend Vivatech 2022.

Key Points:

• The Indian startup environment has been expanding quickly.
• They currently have over 100 unicorns, which demonstrates the size and recognition of Indian ecosystems.
• It has been evolving quickly.
• A new set of use cases for technology development in India is made possible by the combination of billions of cellphones, billions of bank accounts, and billions and billions of digital identities.

Union Minister Prahlad Singh Patel inaugurates the National Conference on Millets:

• The National Conference on Millets was launched by Prahlad Singh Patel, Union Minister of State for M/o Food Processing Industries.
• The symposium in New Delhi, organized by the business association ASSOCHAM with assistance from M/o Food Processing Industries, has as its topic “The Future Super Food for India.”
• The purpose of the conference is to examine ways to ensure food and nutritional security as well as obstacles in the way.
• According to the union minister, the nation would produce 17.96 million tonnes of coarse grains in 2020–21, up from 14.52 million tonnes in 2015–16, and 10.86 million tonnes of bajra (pearl millet) over the same period.
• Haryana, Uttar Pradesh, Chhattisgarh, Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Karnataka, Tamil Nadu, and Telangana are some of the major millets-producing states in India.

Additional Info:

• Millets are grown all over the world because India is currently the fifth-largest exporter of millets worldwide.
• The worldwide year of millets in 2023 will generate value and promote the use of sustainable goods in dietary choices.

CURRENT AFFAIRS: INTERNATIONAL NEWS

Vice President Shri M. Venkaiah Naidu to visit Gabon, Senegal, and Qatar

• Vice President Shri M Venkaiah Naidu visited a three-nation tour to Gabon, Senegal, and
• He was on the trip accompanied by a high-level delegation including Minister of State for Health and Family Welfare Bharati Pravin Pawar and three Members of Parliament, Sushil Kumar Modi, Vijay Pal Singh Tomar, and P Ravindhranath.
• This will be the first visit from India at the level of Vice President to all three countries.
• This will also be the first-ever high-level visit from India to Gabon and Senegal.

Key Highlights :

VP in Gabon :

• During his visit to Gabon, the Vice President will hold delegation-level talks with the Prime Minister of Gabon Mr. Rose Christiane Ossouka Raponda.

VP in Senegal :

• He visited Senegal and held delegation-level talks with the President of Senegal Mr. Macky Sall.
• The Vice President will meet the President of the National Assembly Moustapha Niasse and other dignitaries.
• He will also attend a business round table and address the Indian community.

VP in Qatar :

• The visit to Qatar, as both sides prepare to celebrate the 50th anniversary of the establishment of diplomatic relations, will further enhance the bilateral ties.
• During his visit to Qatar, the Vice President will hold delegation-level talks with Qatar’s Deputy Amir, Sheikh Abdullah Bin Hamad Al Thani, and review bilateral cooperation.
• Naidu will meet several other Qatari dignitaries during this visit.
• He will also address a business round table in Qatar.
• The Vice President launched the “India-Qatar Start-Up bridge” to link the start-up ecosystems of the two countries at the India-Qatar Business Forum in Doha.
• He also addressed members of the business community at India-Qatar Business Forum and highlighted the strength of India-Qatar ties and called for building an enabling environment and forging more collaborations for mutual benefit.
• Both sides expressed satisfaction at the continued engagement at the highest levels between both countries since the landmark visits of Qatar’s Amir to India in 2015 and Prime Minister Shri Narendra Modi to Qatar in

About Gabon :

• President: Ali Bongo Ondimba
• Capital: Libreville
• Currency: Central African CFA franc

About Senegal :

• President: Macky Sall
• Capital: Dakar
• Currency: West African CFA franc

About Qatar :

• Capital: Doha
• Currency: Qatari Riyal

External Affairs Minister Dr. S. Jaishankar Visits Slovakia and the Czech Republic

• External Affairs Minister (EAM) Dr. S. Jaishankar had an official visit to Slovakia and the Czech Republic.

Key Highlights :

EAM visits in Slovakia :

• Jaishankar’s visit to Slovakia was the first-ever visit at the level of EAM since its creation in 1993.
• India and Slovakia share close and friendly ties based on common values of democracy, rule of law, freedom, and equality.
• He will attend the GLOBSEC 2022 Forum and speak on the topic ‘Taking Friendship to the Next Level: Allies in the Indo-Pacific Region.
• He also appreciated the mutual recognition of vaccine certificates between India and Slovakia which has greatly facilitated travel between the two countries.
• Both sides discussed the expanding cooperation in trade, investment, and defense sectors.
• He also invited Slovakia to join the International Solar Alliance.
• Both sides also exchanged views on regional as well as multilateral issues, including Ukraine, the EU, and the Indo-Pacific.

EAM visits in the Czech Republic :

• During his visit to the Czech Republic Jaishankar will hold discussions with Foreign Minister Jan Lipavsky.
• During the meeting, they discussed the entire gamut of bilateral relations, including political, economic, defense and security.
• Both sides exchanged views on the Indo-Pacific and the Ukraine conflict.
• The meeting will provide an opportunity for a comprehensive review of the bilateral cooperation.
• During the delegation-level talks, Jaishankar and Lipavsky discussed the entire gamut of bilateral relations, including political, economic, defense & security, S&T, cultural, and people-to-people ties.
• Discussions were also held on India-EU relations, including the upcoming Czech Presidency of the EU and both sides agreed to work towards an early conclusion of the India-EU FTA
• The Czech Republic will be taking over the EU Presidency from 01 July 2022.
• Both sides appreciated that bilateral trade had crossed over USD 2 billion.
• Jaishankar also interacted with Czech Members of the European Parliament and discussed India’s strong ties with the EU, as well as the Czech Republic.

About Slovakia :

• President : Zuzana Čaputová
• PM : Eduard Heger
• Capital : Bratislava
• Currency : Euro

About the Czech Republic :

• President : Miloš Zeman
• PM: Petr Fiala
• Capital: Prague
• Currency: Czech koruna

12th WTO Ministerial Conference held in Geneva, Switzerland

• The 12th WTO Ministerial Conference was co-hosted by Switzerland and Kazakhstan at World Trade Organization headquarters in Geneva, Switzerland.
• This was taking place after a gap of almost five years and that was attended by the Trade ministers of 164 nations.
• This conference was chaired by Timur Suleimenov, First Deputy Chief of Staff of Kazakhstan’s President. Kazakhstan was originally scheduled to host MC12 in June 2020 but the conference was postponed due to the COVID-19 pandemic.

Focus:

• The key areas of discussions and negotiations at this year’s conference include WTO’s response to the pandemic, Fisheries subsidies negotiations, Agriculture issues including Public Stockholding for Food Security, WTO Reforms, and Moratorium on Customs Duties on Electronic Transmission.
• To review the functioning of the multilateral trading system, make general statements and take action on the future work of the WTO, and negotiate deals.

About World Trade Organization (WTO):

• Director-General: Ngozi Okonjo-Iweala
• Headquarters: Geneva, Switzerland
• Establishment: 1995
• The WTO members: 164 members (including European Union)

The European Commission granted candidate status to Ukraine and Moldova

• The European Commission has made a historic step in recommending that Ukraine and Moldova be granted European Union (EU) candidate status.
• This recommendation was announced by European Commission President Ursula von der Leyen.
• The decision paves the way for EU government leaders to sign off on the recommendation at a Brussels summit next Thursday and Friday.
• Ukrainian President Volodymyr Zelenskyy welcomed the Commission’s move, calling it a “historic decision.”
• “I commend the positive EU Commission conclusion on Ukraine’s candidate status. It’s the first step on the EU membership path that’ll certainly bring our victory closer,” he wrote on Twitter.

About Republic of Moldova:

• President: Maia Sandu
• Capital: Chisinau
• Currency: Moldovan Leu (MDL)

About Ukraine:

• President: Volodymyr Zelenskyy
• Currency: Ukrainian hryvnia
• Prime minister: Denys Shmyhal

CURRENT AFFAIRS: STATE NEWS

Gujarat CM launches 17th ‘Shala Praveshotsav’

• The Chief Minister of Gujarat Shri Bhupendra Patel launched the 17th edition of ‘Shala Praveshotsav’, an annual drive to enroll students in Class 1 in Gujarat.

Aim :

• To increase the enrollment of students in primary schools in Gujarat.
• The 3-day enrollment drive begins from Memadpur primary school in Vadgam taluka of Banaskantha district.

Key Highlights :

• During this 3-day drive, Officials and elected representatives would cover nearly 32,000 government primary schools.
• As part of this enrollment for the first time, Vice-Chancellors of universities will also be roped in for the Praveshotsav drive.
• The dropout rate of students reduced drastically following the mass enrolment drives of the children.
• Gujarat’s dropout ratio was 64.48 percent in 1990-91 & the ratio came down to 3.7 percent in 2020-21.
• Similarly, the gross enrollment ratio has gone up to 99.02 in 2020-21 from 95.65 percent in 2004-05.

Background :

• The Shala Praveshotsav was started by Prime Minister Shri Narendra Modi in the year 2003 to change the status of school education in Gujarat and to accelerate the elementary education of the children.

About Gujarat :

• Governor: Acharya Dev Vrat
• CM: Bhupendrabhai Patel
• Capital: Gandhinagar

Karnataka CM Shri Basavaraj Bommai inaugurates India’s largest IKEA store

• Chief Minister of Karnataka Shri Basavaraj Bommai inaugurated IKEA’s Nagasandra store, a leading Swedish home furnishing retailer in Bengaluru, Karnataka.
• The Bengaluru store is IKEA’s 3rd outlet in India after the ones in Hyderabad and Mumbai.
• Industries Minister Murugesh Nirani, Ambassador of Sweden Klas Molin, and IKEA India CEO Susanne Pulverer were among others present at the inaugural session.

About IKEA’s Nagasandra store :

• The store is Spread over 12.2 acres, 4,60,000 sq. ft.
• The store is the largest IKEA outlet in the country and is located close to the Nagasandra station of the Bengaluru Namma metro.
• With a planned investment of Rs 3,000 crore in Karnataka, IKEA is expecting to attract close to 5 million visitors in 2022.
• IKEA has employed 1,000 co-workers with 72 percent local co-workers and plans to hire more people from the local neighborhood.

Features of the Store :

• The store will have over 7,000 home furnishing IKEA products along with home sets.
• The store will also house one of the largest children’s play areas ‘Småland’ along with a 1,000-seater restaurant and a bistro serving a mix of Swedish and Indian delicacies.

About IKEA :

• Founded: 28 July 1943
• Founder : Ingvar Kamprad
• Headquarters: Delft, Netherlands

About Karnataka :

• Governor: Thawar Chand Gehlot
• Chief minister: Basavaraj Bommai
• Capital: Bengaluru

Karnataka govt signs MoUs to help women SHGs, promote organic farming

• The Government of Karnataka signed 2 Memorandum of Understanding (MoUs) to strengthen the economic activities of women’s self-help groups and facilitate organic farmers to sell their produce directly to consumers.
• The MoUs were exchanged in the presence of Minister for Livelihood C N Ashwath Narayan.
• On behalf of the government, Sanjeevini – Karnataka State Rural Livelihood Promotion Society (KSRLPS) and National Rural Economic Transformation Programme (NRETP), exchanged MoUs with the institutions.

About the MoUs :

• Out of the 2 MoUs, one was with IIM-B a business school to help women in self-help groups.

Aim :

• To scale up at least 100-150 existing women-owned/women-led growth-oriented enterprises in Karnataka.
• The MoU would facilitate creating business models for generating local employment, improving the creditworthiness of enterprises, enabling access to credit from formal financial institutions, and allowing women entrepreneurs to run businesses themselves.
• Another one was signed with Subhiksha, a vertically integrated multi-state cooperative society that promotes organic farming.
• It would create a direct linkage with the consumers through the online marketing platform ‘Subhiksha Farmers to Consumers’ App.
• It would fetch 73 percent of the MRP directly to the farmers’ account.
• It also provides traceability to consumers of every item that is procured through the platform along with a ‘Note from the Farmer’ to introduce the farmer’s family to the consumer.

Other advantages :

• It would assist in high-order food processing, supply quality inputs to farmer members at reasonable costs, provide farm advisory services, incentivize farmers for adopting ‘Good Agricultural Practices’ and enable access to farm data on soil fertility, and moisture levels

Delhi International Airport Limited introduces RFID-enabled baggage tag “BAGG TRAX” at Delhi Airport arrivals

• Delhi International Airport Limited (DIAL) has introduced Radio-Frequency Identification (RFID)-enabled personalized Baggage Tag “BAGG TRAX”, a first-of-its-kind facility in the country that will share details in real-time about when and on which belt a passenger’s luggage is arriving.
• The unique BAGG TRAX tags will soon be commercially launched for flyers at Delhi airport. Presently, as part of the pilot project, BAGG TRAX tags are given to select frequent flyers at Terminal 3 only. Once commercially launched, flyers can buy it at the Departures.
• It is yet another passenger-friendly initiative by DIAL that will significantly enhance the passenger experience at the airport. BAGG TRAX will not only help the domestic and international arrival passengers but also those in transit to track their checked-in baggage.

About Delhi:

• Chief minister: Arvind Kejriwal
• Governor: Vinai Kumar Saxena

CURRENT AFFAIRS: BANKING & FINANCE

Liberty General Insurance partners with Peerless Financial Products Distribution

• Liberty General Insurance (LGI), one of the fastest-growing General Insurance companies in India recently entered into a Corporate Agency agreement with Peerless Financial Products Distribution Ltd (PFPDL).
• The collaboration will enable the distribution of Liberty’s retail and commercial line of products through Peerless’ extensive network of 42 branches across India.

About the Partnership :

• The Partnership offers a wide range of health products including Liberty Complete Protect Group Policy Insurance, which provides annual benefit cover if the insured is hospitalized with vector-borne diseases such as dengue fever, malaria, chikungunya, Japanese encephalitis, kala-azar, lymphatic filariasis, and Zika virus.
• It also covers up to 60 critical illnesses including major and minor health conditions under Liberty Health Connect, Health Prime Connect, and Individual Personal Accident Policy, Comprehensive Insurance with add-ons for Private cars, two-wheeler, and commercial vehicles among others is available under the motor insurance policy.
• Liberty will also work with PFPDL to provide training and operational expertise, through marketing, manpower support, and regular insurance and product training.

About LGI :

• Founded: 2013
• Headquarters: Mumbai, Maharashtra, India
• LGI is a joint venture between Liberty Citystate holdings PTE Ltd, Enam Securities, and Diamond Dealtrade.

Aim :

• To provide comprehensive retail, commercial, and industrial insurance solutions.

About PFPDL :

• Founded: 1932
• Headquarters: Kolkata, West Bengal
• CEO: Satyaki Bhattacharya

AU Small Finance Bank launches the industry’s first customizable Credit Card, AU Bank LIT

• AU Small Finance Bank has launched an innovative Credit Card named AU Bank LIT (Live-It-Today) which allows customers to choose the features they want in their card and also decide the period they want those features for.
• Instead of buying multiple cards for different categories, such as travel, shopping, etc, the customer can opt for the categories of their preference under this offering and can also switch any of these features when they want

Features of AU Bank LIT (Live-It-Today) Credit Card :

• The LIT credit card provides a higher degree of engagement to customers, through the AU0101 app as they can track their savings/earnings daily to maximize their benefits.
• The card hosts multiple benefits and customers can activate any feature on the go in real-time for a small convenience fee.
• LIT provides the cardholder a complete control of its offers and fee that they pay for those offers in a clear, transparent manner and saves the cardholders multitudes of annual/renewal fees for benefits they don’t use.
• Cardholders can avail the best of both Cashbacks and Reward Points, using the features that are offered.
• The default validity period for each feature is 90 days.

LIT Credit Card offers five categories of features, namely:

• Lounge Access: Wherein customers can opt for one or two lounge access per quarter
• Milestone Benefits: By which, one can get more reward points or cashback
• OTT & Lifestyle Memberships: Wherein they can get free membership to various platforms and services
• Accelerated Rewards (Online/Offline): Customers can get higher reward points for online and POS transactions
• Other Features: Including a fuel surcharge waiver, cashback on groceries, and much more
• Since the launch of its first credit card in 2021, the bank claims to have enrolled over 2.3 lakh credit card customers from over 200 districts of Tier 2 and Tier 3 cities.

About AU Small Finance Bank :

• Headquarters: Jaipur, Rajasthan, India
• MD & CEO: Sanjay Agarwal
• It was founded as vehicle finance company AU Financiers (India) Ltd in 1996 and converted to a small finance bank on 19 April 2017.
• AU Small Finance Bank is the largest small finance bank and one of the fastest-growing retail banks in India.

Karnataka Bank launches Online SB Account opening facility using V-CIP

• Karnataka Bank has launched an Online SB Account opening facility through ‘Video-based Customer Identification Process (V-CIP)’.
• The facility, enabled on the corporate website of the bank, empowers prospective customers to open an SB account through an online process and complete KYC (know your customer) verification through a video call at their place of convenience.
• The end-to-end paperless digital process leverages the bank’s API (Application Programming Interface) that auto-fills the account opening form, validates PAN/Aadhaar number instantly, and completes the KYC process through a video call.
• The bank is now focusing on taking the digital initiatives to the next level by focusing on the ‘KBL NxT’ concept under wave 2.0 of our transformation journey ‘KBL-VIKAAS’, and many more initiatives are in the offing to evolve as the ‘digital bank of future’

About Karnataka Bank :

• Founded: 18 February 1924
• Headquarters: Mangaluru, Karnataka, India
• MD & CEO: Mahabaleshwara M. S

Centre mandates 3-yr health insurance plan for surrogate mothers

• The Central government has made it mandatory for couples planning to become parents through surrogacy to buy a health insurance plan for 36 months (three years) for surrogate mothers.
• As per the Surrogacy Regulation Act 2021, insurance means an arrangement by which a company, individual, or intending couple undertakes to provide a guarantee of compensation for medical expenses, health issues, specified loss, damage, illness, or death of a surrogate mother and such other prescribed expenses incurred on such surrogate mother during the process of surrogacy.

About Surrogacy Rules 2022 :

• Under the Surrogacy Rules 2022, a surrogate mother has to give her consent through an agreement for giving up all her rights over the child and shall hand over the child/children as soon as she is permitted to do so by the hospital.
• A surrogate mother may be allowed for abortion during the process of surrogacy by the Medical Termination of Pregnancy Act, 1971 in case of any complication as advised by the doctors.
• As per new rules, the insurance plan should be availed by an insurance company or an agent recognized by the Insurance Regulatory and Development Authority of India (IRDAI).

Provisions :

• Limited attempts: The government has ensured that the number of attempts of any surrogacy procedure on the surrogate mother shall not be more than three times.
• Allowed abortion: A surrogate mother may be allowed for abortion during the process of surrogacy in case of any complication as advised by the doctors
• Regulation of private clinics: Every private surrogacy clinic has to apply for registration with a fee of ₹2 lakh which is non-refundable.
• However, facilities under government-run institutes are exempt from such fees.
• Specialist availability: Surrogacy clinics shall have at least one gynaecologist, one anaesthetist, one embryologist, and one counselor.
• Marriage period: The couple should be married for more than five years.

Additional Info :

• Globally One in six couples have difficulty in conceiving such to medication, IVF, and surrogacy.

Securities and Exchange Board of India (SEBI) forms Building Advisory Committee to advise on-premises related matters.

• Capital markets regulator Securities and Exchange Board of India (SEBI) has formed a Building Advisory Committee, which will advise and assist it in all the premises-related matters such as planning, acquisition, and furnishing.
• The 7-member committee will be headed by B K Katyal, former Chief General Manager at Reserve Bank of India (RBI), the latest update with Sebi showed.
• The other members of the committee are K. V. Krishna Rao, former head of the Department of Civil Engineering at Indian Institute of Technology, Mumbai; Rajiv Mishra, Principal, Sir JJ College of Architecture, Mumbai; K M Soni, former ADG, Central Public Works Department, Delhi; and Rajesh Bhagwani SE (Electrical), Central Public Works Department.

About Securities and Exchange Board of India SEBI:

• Founded: 12 April 1992
• Chairman: Madhabi Puri Buch
• Headquarters: Mumbai

Exim Bank estimates India’s merchandise exports at USD 117.2 bn in Q1FY23

• India’s total merchandise export value is expected to reach USD 117.2 billion in the first quarter of FY23 as per India Export-import (Exim) Bank.
• The valuation of the total merchandise exports was US$ 95.5 billion in the corresponding quarter of the previous year.
• The increase in exports is attributed to the continued rise of global commodity prices, driven by supply shocks, increased price competitiveness due to exchange rate movements, and advantages from trade diversions.
• Non-oil exports will amount to US$ 93 billion, growing at 12.6%, in the first quarter (April-June) of 2022-23 as compared to US$ 82.6 billion in the previous year.
• However, the growth forecast is subject to commodity price volatility and uncertainties in the global economy driven by geopolitical tensions.

About EXIM Bank:

• Founded: 1982
• CEO: Harsha Bangari
• Headquarters: Mumbai

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

NDB appoints Dr. D J Pandian appointed to lead India Regional Office in Gift City

• The New Development Bank (NDB) of the BRICS countries has appointed former bureaucrat Dr. D J Pandian as the Director-General of its India Regional Office (IRO) in Gujarat International Finance Tec-City (GIFT City).
• The New Development Bank has approved 20 projects in India.
• The IRO will assist in the effective implementation of these projects and work closely with the project implementing agencies.
• IRO would play a key role in developing new projects and providing capacity building and technical assistance to government agencies.

About  Dr. D J Pandian :

• Earlier he was the Vice President and Chief Investment Officer of the Asian Infrastructure Investment Bank (AIIB) in which India is the 2nd largest shareholder after China.
• During his tenure at the AIIB, he was instrumental in securing USD 6.7 billion in funding for 28 projects in India, stated to be the highest project finance extended by the bank.
• He served as an IAS officer of Gujarat cadre and Chief Secretary of Gujarat.
• He was instrumental in establishing the Gujarat Energy Research and Management Institute and served as chairman and director.

About NDB :

• Establishment: 2014
• Headquarters: Shanghai, China
• President : Marcos Prado Troyjo
• The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China, and South Africa).

Senior IPS Officer Mr. Dinkar Gupta appointed as Director General of NIA

• Senior IPS officer Mr. Dinkar Gupta was appointed as Director-General of the National Investigation Agency (NIA).
• The Appointments Committee has approved the appointment of Mr. Gupta as the NIA chief till March 31, 2024, the date of his retirement.

Other Appointments :

• Mr. Swagat Das was appointed Special Secretary (Internal Security) in the Home Ministry till November 30, 2024.
• He is an IPS officer of 1987-batch and at present posted as Special Director in the Intelligence Bureau

About Mr. Dinkar Gupta :

• Mr. Gupta is a 1987-batch Indian Police Service (IPS) officer of the Punjab cadre.
• He has also served as DIG (Jalandhar Range), DIG (Ludhiana Range), DIG (Counter-Intelligence), Punjab, and DIG (Intelligence), Punjab till 2004.
• He was the only officer from Punjab to be impaneled for appointment to the Additional Director General level post at the Centre in 2018.
• He was on central deputation with the MHA for 8 years, from June 2004 to July 2012.
• He held the position of the Director-General of Punjab Police in 2019.
• He also held the post of Director General of Police, Intelligence, Punjab, which involved the direct supervision of the Punjab State Intelligence Wing, Organised Crime Control Unit (OCCU), and State Anti-Terrorist Squad (ATS).

Awards & Honors :

• Mr. Dinkar Gupta was decorated with two Police Gallantry Medals in 1992 and 1994.
• He was decorated with the Police Medal for the Meritorious Services by the President and the President’s Police Medal for Distinguished Service (2010)
• In 1999, he was awarded the British Chevening Gurukul Scholarship by the British Council at the London School of Economics, London.

About NIA :

• Founded: December 31, 2008
• Headquarters: New Delhi, Delhi, India
• NIA is an anti-terror probe agency that was formed after the 26/11 attack in Mumbai.

Mr. Ranjit Bajaj was appointed as chairman of the Advisory Committee to run the All India Football Federation (AIFF)

• I-League club Minerva Punjab’s former owner Mr. Ranjit Bajaj has been appointed as the chairman of the advisory panel formed by the Committee of Administrators (CoA) to oversee the functioning of the All India Football Federation (AIFF).
• The 12-member advisory committee was appointed by the CoA to oversee the day-to-day matters of various departments of the AIFF & send regular reports to all the members of the CoA for their information and approval.

Complete list of the advisory committee with their roles:

• Ranjit Bajaj – Chairman of the Advisory Committee and Integrity matters
• Gurslmran Brar – Admin, Legal and Government Liaison matters
• Manoj Gupta – Accounts and Finance matters
• Akshay Rohatgi – Tournament and Logistics matters
• Sankalp Pujari – Player status and Registration matters
• lndranil Oas – Club Licensing and Academy Accreditation matters
• S. Suresh – Refereeing matters
• Savio Medeira – National Teams (men and women) and Coaching matters
• Richard Hood – Grassroots and Futsal matters
• Jaydeep Basu – Media and Communication matters
• Pushpargha Chatterjee – HR matters
• Oebashis Dey – Member of the Advisory Committee.

About AIFF :

• Founded: 23 June 1937
• Headquarters: New Delhi, Delhi, India
• President : Praful Patel
• AIFF is the governing body of football in India under the jurisdiction of the Ministry of Youth Affairs and Sports, GoI.

CURRENT AFFAIRS: MOU & AGREEMENTS

NCMRWF and Indian Navy signs MoU for “Cooperation on Numerical Model-Based Applications in Meteorology and Oceanology.”

• The Indian Navy and the National Centre for Medium-Range Weather Forecasting (NCMRWF) of the Ministry of Earth Sciences (MoES), signs MoU for “Cooperation on Numerical Model-Based Applications in Meteorology and Oceanology.”
• The MoU was signed in a ceremony at NCMRWF in Noida, Uttar Pradesh, by Dr. Ashis K. Mitra, Head of NCMRWF, and Commodore G. Rambabu, Head of the Indian Navy’s Directorate of Naval Oceanology and Meteorology (DNOM), Integrated Headquarters, Ministry of Defence (Navy).

Significance of this MoU:

• The Indian Navy and NCMRWF under this collaboration will share expertise in the domains of weather and ocean modeling, coupled modeling, data assimilation, ensemble forecasting, and satellite data utilization, with the intent of keeping both organizations up to date with rapid development.
• This would also promote meaningful interactions that leverage the professional strengths of both organizations.

Features of this MoU:

• The NCMRWF, with its highly skilled scientists and cutting-edge facilities, would render support to two of the Indian Navy’s premier establishments in Kochi, Kerala:

• The Naval Operations Data Processing and Analysis Centre (NODPAC), and
• The Indian Naval Meteorological Analysis Centre (INMAC)
• This will help to develop advanced numerical weather prediction systems, including coupled models that will have greater reliability and accuracy over the Indian Ocean Region (IOR) and global regions.
• This MoU would benefit both NCMRWF and the Indian Navy in the future by fostering meaningful interactions and professional exchanges.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

India’s communication satellite NSIL’ GSAT-24 successfully launched from French Guiana

• The GSAT (Geosynchronous Satellite)-24 satellite, for NewSpace India Limited (NSIL), was successfully launched on-board Ariane-V VA257 flight by French company Arianespace from Kourou in French Guiana (South America).
• GSAT-24 is a Ku-band 4-tonne class communications satellite built for NSIL by ISRO.
• It is configured on ISRO’s proven I-3k Bus with a mission life of 15 years.
• The satellite was injected into the desired orbit along with Malaysian communication satellite MEASAT-3D by Ariane-V VA257 flight.

Features of GSAT-24 :

• GSAT-24 is a 24-Ku band communication satellite weighing 4180 kg with pan-India coverage for meeting DTH (Direct to Home) application needs
• GSAT-24 is the 25th Indian satellite to be launched by Arianespace and the 11th of the GSAT series
• The launcher carried a total payload of approximately 10,863 kg
• It was the first demand-driven communication satellite mission undertaken by NSIL post-space sector reforms.
• The satellite will provide high-quality television, telecommunications, and broadcasting services and will meet the DTH needs of Indian customers.

About NSIL :

• Established: 6 March 2019
• Headquarters: Bengaluru, Karnataka, India
• Chairman & Managing Director: Radhakrishnan Durairaj
• NSIL, a Government of India company under the Department of Space, has leased the entire satellite capacity to Tata Play.

Objective :

• To scale up industry participation in Indian space programs.

Oracle launches OCI dedicated region for the India market

• US-based technology major Oracle’s cloud services platform, Oracle Cloud Infrastructure (OCI) has launched the ‘OCI dedicated region’ for the Indian market.

Aim :

• To enable customers to leverage public cloud services on their premises while meeting strict latency, data residency, and data sovereignty requirements.

About ‘OCI dedicated region’ :

• The new OCI Dedicated Region requires 60%-75% fewer data center space and power on average, with a significantly lower entry price of around $1 million a year for a typical customer.
• The new offering will help customers meet latency, data residency, and data sovereignty requirements that are key to many IT modernization efforts.
• It will allow Oracle to offer customers nearly 100 services within their premises, which were earlier available only to public cloud consumers.
• It will also help boost the adoption of the public cloud in the public sector, banking, and other sectors that were so far restricted to do so due to regulatory and other requirements.

About Oracle :

• Founded: June 16, 1977
• Founders: Larry Ellison, Bob Miner, Ed Oates
• Headquarters: Austin, Texas, United States
• CEO: Safra Catz
• Executive Chairman & CTO: Larry Ellison

CURRENT AFFAIRS: AWARDS AND HONOUR

Union Aviation Minister awards the first Type Certificate under Drone Rules, 2021 to Gurugram-based IoTechWorld:

• Shri Jyotiraditya M. Scindia, Union Minister of Civil Aviation, has awarded the first Type Certificate (TC) under Drone Rules, 2021 to IoTechWorld Avigation Pvt Ltd.
• The gurugram-based company was established in April 2017 and is one of India’s leading manufacturers of Kisan drones.
• IoTech has received the Type Certify barely 34 days after submitting its online application on the DGCA’s Digital Sky Platform.
• The Drone Rules, 2021 were notified on 25 Aug 2021 and the ‘Certification Scheme for Unmanned Aircraft Systems (CSUAS)’ for obtaining a Type Certificate (TC) for drones was notified on 26 Jan 2022.
• There are three globally-renowned Certification Bodies (CB) approved by QCI namely – TQ Cert, UL India, and Bureau Veritas.
• Drone manufacturers are free to approach any Certification Body for testing their drone prototype.
• The drone certification scheme of January 2022 was developed by the Quality Council of India in consultation with drone startups, industry, academia, and defense experts.
• The Government played the role of that of a facilitator and problem solver.

Global drone hub by 2030:

• Drones offer tremendous benefits to almost all sectors of the economy.
• These include- agriculture, mining, infrastructure, surveillance, emergency response, transportation, geo-spatial mapping, defense, and law enforcement to name a few.
• Drones can be significant creators of employment and economic growth due to their reach, versatility, and ease of use, especially in India’s remote and inaccessible areas.
• Given its traditional strengths in innovation, information technology, frugal engineering; supportive policies, monetary incentives, and a huge domestic demand base, India has the potential of becoming a global drone hub by 2030.

CURRENT AFFAIRS: SPORTS NEWS

India moves up two points in the FIFA rankings to 104:

• The Indian football team enjoyed a successful harvest as a result of their strong Asian Cup qualification campaign, moving up two spots to position 104 in the most recent FIFA global rankings.
• The Blue Tigers have ranked just ahead of New Zealand (103) who lost to Costa Rica 0-1 in the intercontinental play-off earlier this month and therefore missed out on a position in the 2022 FIFA World Cup.
• India’s position among the AFC’s members, however, remained unchanged at

Overall World Rankings:

• Iran remained the top-ranked nation in the AFC (Asian Football Confederation) (23).
• Three months after Belgium relinquished the top rank to Brazil, Brazil maintained it (2nd).
• Argentina moved up one spot to third, knocking France (4th) off the podium as punishment for their four consecutive losses in the UEFA Nations League.
• The top 10 is completed by Denmark, England, Spain, Italy, Netherlands, and Portugal.
• On August 25, the newest FIFA global rankings will be released.

About FIFA

• President: Gianni Infantino
• Founded: 21 May 1904
• Headquarters: Zürich, Switzerland

Rumeli Dhar retires from all forms of international cricket:

• The 38-year-old Indian all-rounder and seam bowler Rumeli Dhar has declared her retirement from international cricket.
• In the 2018 tri-nation women’s T20I series between India, Australia, and England at Brabourne, Dhar competed in her final match for her country.

About Rumeli Dhar:

• She played in four Tests, 78 ODIs, and 18 T20Is overall, totaling 1328 runs and 84 wickets across all forms.
• She also competed for India at the 2005 World Cup, which was held in South Africa.
• When she was called up to the Indian T20 squad for their February 2018 tour of South Africa, Dhar, who made her international debut against England in Lincoln in 2003, made an improbable return to the Indian team.

Daily CA on June 25 :

• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, has approved the proposal for signing of an agreement between the Government of India and the United Nations on a ‘Way Finding Application’ to be used in the Palais des Nations, United Nations Office at Geneva (UNOG).
• The Cabinet was apprised of the Agreement signed among the Shanghai Cooperation Organisation, SCO, member states on cooperation in the field of youth work among the authorized bodies of the member states of SCO.
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved a Memorandum of Association (MoA) by India for the establishment of the BIMSTEC Technology Transfer Facility (TTF) was signed by the BIMSTEC member countries at the 5th BIMSTEC Summit held at Colombo, Sri Lanka.
• Cabinet Committee on Economic Affairs has approved a moratorium to Cochin Port Authority on repayment of Central government loans amounting to over 446 crore rupees for three years.
• The Seismology Observatory in the Dandayal neighborhood of the Udhampur district was formally inaugurated by Jitendra Singh, Union Minister for Jammu and Kashmir.
• India is putting up several policies to support the construction of carbon capture facilities by high carbon emission industries including steel, cement, and thermal plants.
• Railway Protection Force (RPF) and frontline railway staff are relentlessly working to ensure safe & secure travel of women over the Indian railways.
• Union education minister Mr. Dharmendra Pradhan announced that the government is in the process of establishing model schools that will be called ‘PM Shri Schools’.
• India has been named the “nation of the year” at Europe’s largest startup conference, “Vivatech 2020.”
• The National Conference on Millets was launched by Prahlad Singh Patel, Union Minister of State for M/o Food Processing Industries.
• Vice President Shri M Venkaiah Naidu visited a three-nation tour to Gabon, Senegal, and
• External Affairs Minister (EAM) Dr. S. Jaishankar had an official visit to Slovakia and the Czech Republic.
• The 12th WTO Ministerial Conference was co-hosted by Switzerland and Kazakhstan at World Trade Organization headquarters in Geneva, Switzerland.
• The European Commission has made a historic step in recommending that Ukraine and Moldova be granted European Union (EU) candidate status.
• The Chief Minister of Gujarat Shri Bhupendra Patel launched the 17th edition of ‘Shala Praveshotsav’, an annual drive to enroll students in Class 1 in Gujarat.
• Chief Minister of Karnataka Shri Basavaraj Bommai inaugurated IKEA’s Nagasandra store, a leading Swedish home furnishing retailer in Bengaluru, Karnataka.
• The Government of Karnataka signed 2 Memorandum of Understanding (MoUs) to strengthen the economic activities of women’s self-help groups and facilitate organic farmers to sell their produce directly to consumers.
• Delhi International Airport Limited (DIAL) has introduced Radio-Frequency Identification (RFID)-enabled personalized Baggage Tag “BAGG TRAX”, a first-of-its-kind facility in the country that will share details in real-time about when and on which belt a passenger’s luggage is arriving.
• Liberty General Insurance (LGI), one of the fastest-growing General Insurance companies in India recently entered into a Corporate Agency agreement with Peerless Financial Products Distribution Ltd (PFPDL).
• AU Small Finance Bank has launched an innovative Credit Card named AU Bank LIT (Live-It-Today) which allows customers to choose the features they want in their card and also decide the period they want those features for.
• Karnataka Bank has launched an Online SB Account opening facility through ‘Video-based Customer Identification Process (V-CIP)’.
• The Central government has made it mandatory for couples planning to become parents through surrogacy to buy a health insurance plan for 36 months (three years) for surrogate mothers.
• Capital markets regulator Securities and Exchange Board of India (SEBI) has formed a Building Advisory Committee, which will advise and assist it in all the premises-related matters such as planning, acquisition, and furnishing.
• India’s total merchandise export value is expected to reach USD 117.2 billion in the first quarter of FY23 as per India Export-import (Exim) Bank.
• The New Development Bank (NDB) of the BRICS countries has appointed former bureaucrat Dr. D J Pandian as the Director-General of its India Regional Office (IRO) in Gujarat International Finance Tec-City (GIFT City).
• Senior IPS officer Mr. Dinkar Gupta was appointed as Director-General of the National Investigation Agency (NIA).
• I-League club Minerva Punjab’s former owner Mr. Ranjit Bajaj has been appointed as the chairman of the advisory panel formed by the Committee of Administrators (CoA) to oversee the functioning of the All India Football Federation (AIFF).
• The Indian Navy and the National Centre for Medium-Range Weather Forecasting (NCMRWF) of the Ministry of Earth Sciences (MoES), signed MoU for “Cooperation on Numerical Model-Based Applications in Meteorology and Oceanology.”
• The GSAT (Geosynchronous Satellite)-24 satellite, for NewSpace India Limited (NSIL), was successfully launched on-board Ariane-V VA257 flight by French company Arianespace from Kourou in French Guiana (South America).
• US-based technology major Oracle’s cloud services platform, Oracle Cloud Infrastructure (OCI) has launched the ‘OCI dedicated region’ for the Indian market.
• Shri Jyotiraditya M. Scindia, Union Minister of Civil Aviation, has awarded the first Type Certificate (TC) under Drone Rules, 2021 to IoTechWorld Avigation Pvt Ltd.
• The Indian football team enjoyed a successful harvest as a result of their strong Asian Cup qualification campaign, moving up two spots to position 104 in the most recent FIFA global rankings.
• The 38-year-old Indian all-rounder and seam bowler Rumeli Dhar has declared her retirement from international cricket.