Daily Current Affairs June 01 2023 | Latest News

 

CURRENT AFFAIRS : BANKING & FINANCE

RBI Becomes Net Seller of USD in FY23 

• The Reserve Bank of India (RBI) became a net seller of US dollars in fiscal year 2023, after being a net purchaser for three consecutive years.
• The RBI sold $25.52 billion in the spot foreign exchange market.

Key Highlights :

• The RBI sold dollars to reduce volatility in the rupee, which has been under pressure due to the Russia-Ukraine war and interest rate hikes by the US Federal Reserve.
• The RBI sold the greenback to prop up the rupee, which had depreciated due to higher import bills and foreign investors pulling out money from the domestic market.
• Without the RBI’s dollar sales, experts suggest the rupee could have weakened further, potentially reaching 84-85 levels against the dollar.
• The country’s foreign exchange reserves decreased from $606.475 billion to $578.449 billion during FY23.
• This was primarily due to valuation losses resulting from the appreciating US dollar and higher US bond yields.
• The Central Board of the RBI approved a 188% increase in surplus transfer to the government for the accounting year 2022-23.

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

YES Bank unveils new brand identity with renewed logo

• YES Bank unveiled its new logo as part of its “refreshed brand identity”, and expects to roll it out across its branch network over the next three months.
• The new brand campaign launched by MD and CEO Prashant Kumar with the slogan Life Ko Banao Rich.

Key Highlights :

• The new identity will be extended to all customer touchpoints of the bank such as headquarters, branches, products, digital platforms and communication materials.
• McCann Worldgroup was the creative agency and Conversation Films was the production house involved in creating the new logo.
• The design language of the logo is digitally friendly and reflects fluidity and progressive spirit while staying true to core values.
• The tick has been transformed into a soaring bird, smoothened out corners and fluid shapes have replaced the angular edges of the older identity, and the typography is more emphatic, adding that the blue and red colours have an electric tone, representing high energy and

About YES Bank :

• Founded : 2004
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Prashant Kumar
• Tagline : Experience Our Expertise

Razorpay Launches India’s fastest one-step payments solution – Turbo UPI

• Razorpay has launched India’s fastest one-step UPI (unified payments interface) payment solution,‘Turbo UPI’ that allows customers of online merchants to make UPI payments directly without getting redirected to a third-party UPI app during checkout.
• Razorpay Turbo UPI aims to deliver a 5X faster payment experience.
• This solution was developed in partnership with National Payments Corporation of India (NPCI) and Axis Bank.

About ‘Turbo UPI’ :

• It streamlines the payment process and eliminates any redirection to external apps.
• This helps businesses achieve a significant increase in the success rate of UPI payments by 10%.
• Turbo UPI also offers insights into the end-users’ drop-off pattern and enables merchants to control the entire payment experience of their customers, end-to-end.
• Through this app, the payment steps are reduced from 5 to 1.
• UPI has become the common and preferred mode of payment for end users.
• It is projected to reach 1 billion transactions per day and capture a 90% share of retail digital payments by 2026-27, according to a recent industry report.

About Razorpay :

• Headquarters ; Bangalore, Karnataka
• Co-founder and Managing Director : Shashank Kumar

Ikano Bank Selects TCS BaNCS to Build a Bank for the Future

• Tata Consultancy Services (TCS) announced that Ikano Bank AB in Sweden has selected the TCS BaNCS Global Banking SaaS Platform for its pan-Europe core banking transformation.
• Ikano Bank aims to provide a flexible, digital core that will support the rapid launch of new products and expansion into new markets.
• With the objective of building multi-country capabilities on a single core banking platform, the bank selected TCS BaNCS for its event-based streaming architecture and functionality.

About Ikano Bank :

• Founded : 1995
• Headquarters : Malmö, Sweden
• Ikano Bank is a consumer finance bank established by Ingvar Kamprad (the founder of IKEA).
• The bank accepts deposits, makes loans, and provides other services for the public.

About TCS :

• Founded : 1968
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Natarajan Chandrasekaran
• MD & CEO : Rajesh Gopinathan
• Tata Consultancy Services, a division of Tata Sons Limited, is a global IT services organisation that provides a comprehensive range of IT services to its clients in diverse industries.

About TCS BaNCS :

• TCS BaNCS is a core banking software suite developed by Tata Consultancy Services for use by retail banks.

Angel tax regime: Draft rules give investors more valuation flexibility

• Draft valuation rules for overseas investments into startups under the ‘angel tax’ regime have been announced.
• The rules have been issued by the Central Board of Direct Taxes (CBDT).

Key Highlights :

• 5 new valuation methods for calculating Angel Tax under a new mechanism for non-resident investors in startups have been proposed under the rules.
• The new mechanism will be effective from April 1, 2024.
• Regulated investor entities from 21 countries and recognised startups will be immune from the new mechanism.
• New valuation methods are given below.

1. Comparable Company Multiple Method
2. Probability Weighted Expected Return Method
3. Option Pricing Method
4. Milestone Analysis Method
5. Replacement Cost Method

• These 5 new valuation methods will be separate from 2 methods already in use- Discounted Cash Flow (DCF) and Net Asset Value (NAV).
• 10% variation has been allowed over the value determined under these rules.
• As per the rule, the valuation report by the Merchant Banker would be acceptable if it is of a date not more than 90 days prior to the date of issue of shares subject to valuation.
• Investment from angel investors belonging to Singapore, Ireland, the Netherlands and Mauritius will not be exempted under the new angel tax mechanism.
• DPIIT (Department for Promotion of Investment and Internal Trade)-recognised start-ups will get exemption from the new angel tax provision.
• The rules are expected to help by bringing greater flexibility in determining the fair market value of unquoted shares.
• They will also reduce valuation disputes in angel tax levy.
• Angel tax (income tax at the rate of 6%) is levied when shares are issued by an unlisted company to an investor at a price that is more than fair market value.
• It was previously imposed only on investments made by a resident investor.

Yubi Collaborates with Indian Bank to provide digital supply chain financing for SMEs

• Yubi, an online debt marketplace that connects borrowers and lenders for various credit products, announced its partnership with Indian Bank to extend digital supply chain financing solutions to small and medium-sized businesses (SMEs).
• Indian Bank will leverage Yubi’s technology and platform to digitally enable and scale its supply chain financing book through vendor and dealer financing, targeting large corporations and their SME counterparties.
• The partnership is expected to disburse ₹1,500 crore within the first year.

About Yubi :

• Founded : 2020
• Headquarters : Chennai, Tamil Nadu, India
• Founder & CEO : Gaurav Kumar
• Yubi, formerly known as CredAvenue, is an Indian fintech company that connects businesses with financial institutions, banks and other lenders through its digital platform.

About Indian Bank :

• Established : 1907
• Headquarters : Chennai, Tamil Nadu
• MD & CEO : Shri Shanti Lal Jain

Bank of Maharashtra emerges as top performer in NPA management during FY23

• Bank of Maharashtra (BoM) has emerged as the best bank as far as management of bad loans is concerned with its net non-performing assets (NPAs) falling as low as 25% during the financial year ended March 2023.
• This is the lowest level among all banks having total business above ₹3 lakh crore and not just public sector banks (PSBs).

Key Highlights :

• Bank of Maharashtra was followed by HDFC Bank with net NPA declining to 0.27%.
• Kotak Mahindra Bank stood at the third place with NPAs at 0.37% of net advances.
• Among the PSBs, Bank of Maharashtra was followed by the State Bank of India (SBI) with net NPAs declining to 0.67% at the end of March 2023.
• SBI was followed by Bank of Baroda at 0.89%.
• Bank of Maharashtra has the highest Provision Coverage Ratio at 98.28%.
• It was followed by UCO Bank at 94.50% and Indian Bank at 93.82%.
• Bank of Maharashtra has the highest Capital Adequacy Ratio (CAR) of 18.14% among PSBs.
• It was followed by Punjab & Sind Bank at 17.10% and Canara Bank at 16.68% as on 31 March 2023.
• In terms of loan growth, BoM retained the top spot among the scheduled commercial banks by recording a 29.49% increase on an annual basis, as per the published data of banks.
• Indian Overseas Bank (IOB) stood at second spot with a rise of 21.28% followed by Indusind Bank 21%.
• The country’s largest lender State Bank of India has shown 15.38% rise in loans during FY’23.
• With regards to deposits growth rate, HDFC Bank was at the first spot with 20.80%, followed by Federal Bank with 17 per cent rise and Kotak Mahindra Bank (KMB) with 16.49% rise.
• However, in terms of low-cost Current Account and Savings Account (CASA) deposits BoM topped the chart with 53.38% followed by IDBI Bank with 53.02% and KMB at 52.83%.

About BoM :

• Established : 16 September 1935
• Headquarters : Pune, Maharashtra India
• MD & CEO : A. S. Rajeev
• Tagline : Ek Parivaar, Ek Bank (One Family One Can)

CURRENT AFFAIRS: NATIONAL NEWS

First Vande Bharat Express in Assam: PM Modi flags off Guwahati-New Jalpaiguri train

• Northeast’s first Vande Bharat Express will connect Guwahati to New Jalpaiguri.
• It is the third Vande Bharat train of West Bengal.
• It will reduce the travel time to 5 hours and 30 minutes.
• Prime Minister Narendra Modi also inaugurated Diesel Electric Multiple Unit and Mainline Electric Multiple Unit shed at Lumding in Assam.
• He also dedicated 182 Route kilometers of newly electrified sections.
• It will open the door to running electric trains.
• Around 425 kilometers of railway tracks in Assam and Meghalaya have been electrified.
• Prime Minister also announced that all capital cities of the Northeast will be connected through a broad gauge network.

Government to waive of ISTS charges on off-shore wind projects

• The Government has decided to waive off Inter-State Transmission Charges (ISTS) for Off-Shore Wind Projects.
• The government has extended the waiver to Green Hydrogen and Green Ammonia.
• This decision has been taken to promote the expansion of Green Hydrogen and Green Ammonia Projects and to encourage the production of renewable energy from Energy Storage System Projects.
• Projects commissioned till December 31, 2032, will become eligible for a complete waiver of ISTS charges for 25 years from the date of commissioning.
• Graded ISTS charges will become applicable to the off-shore projects commissioned from 1st January 2033.
• The Government was earlier providing waivers to wind energy projects till 30th June 2025.
• The government has also waived off ISTS charges for 25 years for Green Hydrogen and Green Ammonia production units, which are using Renewable Energy commissioned after 8th March 2019 or Pumped Storage Systems or Battery Storage Systems.
• Wind power project plants commissioned between 2033 and 2034 will be subject to a 25 per cent ISTS fee.
• ISTS charge will be 50 percent for plants being commissioned between 2034 to 2035.
• Full ISTS charges will apply to plants which will be commissioned after 2037.
• 25 percent ISTS charges will apply to Green Hydrogen and Green Ammonia plants being commissioned between 2030 to 2031.
• Full ISTS charges will apply to Green Hydrogen and Green Ammonia plants commissioned after 2036.

Atal Bhujal Yojana water scheme extended by two years

• The National Level Steering Committee (NLSC) has decided to extend Atal Bhujal Yojana to additional two years. Its original end year was 2025.
• The main aim of extending this scheme is to make up the implementation delays due to covid-19 and to further promote community behaviour change initiatives.
• The NLSC reviewed the progress of the project and urged state officials to accelerate all related activities.
• This scheme has been lauded by World Bank for its significant role in promoting water use efficiency.
• Atal Bhujal Yojana brought 450,000 hectares of the irrigated area through various water techniques like drip irrigation and crop diversification.
• It was launched in 2020.
• It is being implemented in 80 districts of seven Indian states.
• The main focus of the scheme is to bring community behavioural change towards conservation and smart water management.
• The scheme also encourages innovative irrigation techniques to improve water efficiency.
• Under this scheme, the adoption of various successful practices in different states has been witnessed.
• It focuses on groundwater recharge and demand-side interventions.

India’s urban unemployment rate falls to 6.8% in Q4

• India’s urban unemployment rate has fallen to 6.8% in Q4 of FY23.
• This is the lowest level in more than four years.
• It stagnated at 7.2% in the previous October-December quarter.
• The decline in the rate reflects improvement in the labour market, according to the Periodic Labour Force Survey (PLFS) released by the National Statistical Office (NSO).
• The unemployment rate in the current weekly status (CWS) terms of all ages in the March quarter was the lowest recorded in over four years.
• NSO released India’s first quarterly urban unemployment rate for the December quarter in 2018.
• The unemployment rate in urban areas peaked at 20.8% in the April-June quarter of FY21.
• It had been on a continuous decline since then.
• The unemployment rate in urban areas for male of age 15 years and above for January – March 2023 was 6%.
• In the previous (October – December 2022) quarter, it was 6.5%.
• In the April-June quarter of 2020-21, it was estimated at 12.2%.
• The unemployment rate in urban areas for female of age 15 years and above for January – March 2023 was 9.2%.
• In the previous (October – December 2022) quarter, it was 9.6%.
• In April-June quarter of 2020-21, it was estimated at 14.3%.
• Labour force participation rate (LFPR) marginally increased from 48.2% in Q3FY23 to 48.5% in Q4FY23.
• LFPR for females increased from 22.3% in Q3 to 22.7% in Q4 and LFPR for males increased from 73.3% in Q3 to 73.5% in Q4.
• Many women found work in self-employed category, including unpaid helpers in household enterprises. Share of men in regular salaried jobs increased.
• The worker-to-population ratio (WPR) increased by 0.5 percentage points to 45.2% in Q4.
• The female WPR was 20.6% and the male WPR was 69.1%.
• Worker Population Ratio (WPR) is the percentage of employed persons in the population.
• Labour Force Participation Rate (LFPR) is the percentage of persons in labour force in the population. This includes working or seeking or available for work.
• Unemployment Rate (UR) is the percentage of persons unemployed among the persons in the labour force.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Nepal Approves 2nd Hydropower Project To Be Developed By India

• Nepal decided to allow India’s Satluj Jal Vidyut Nigam (SJVN) Limited to develop a second hydropower project in the country.
• Presently, SJVN is developing a 900-MW Arun-III hydroelectric project.
• It is a run-of-river project located on the Arun River in Eastern Nepal.
• It is scheduled to be completed in 2024.

Key Highlights :

• Prime Minister (PM) Pushpa Kamal Dahal Prachanda chaired a meeting of the Investment Board Nepal (IBN).
• It approved the draft project development agreement (PDA) to be signed with SJVN to develop the 669-megawatt (MW) Lower Arun Hydropower project in eastern Nepal.
• Before implementation, the draft needs to be endorsed by the Council of Ministers.
• This is the third project undertaken, all through negotiation windows, on the Arun River after the 900 MW Arun-III and 695 MW Arun-IV hydroelectricity projects.
• The previous meeting of the IBN had approved 68 billion rupees investment for the development of the project.

About Nepal :

• President : Ram Chandra Poudel
• Prime Minister : Pushpa Kamal Dahal
• Capital : Kathmandu
• Currency : Nepalese rupee

CURRENT AFFAIRS : STATE NEWS

Odisha government announces ‘Mo Ghara’ housing scheme

• Odisha Chief Minister (CM) Shri Naveen Patnaik announced the launch of the ‘Mo Ghara’ (My House) a credit-linked housing scheme to provide financial assistance to people of states for completing or upgrading their houses.
• The housing scheme was approved by the Odisha cabinet “to meet the aspiration of the lower and lower middle income households of rural Odisha
• This scheme will cover all such families who have been left out of the existing housing schemes.

Key Highlights :

• Approximately 4 lakh people will be covered under the new scheme for which the government will bear Rs 2150 crore over a period of 2 years.
• Under this scheme, beneficiaries can get housing loans up to Rs 3 lakh which can be repaid in 10 years excluding 1 year moratorium period.
• An individual can opt for one of the four slabs of loan amount – 1 lakh, Rs. 1.5 lakh, Rs. 2 lakh and Rs. 3 lakh.
• The applications for availing loans will start from June 15, 2023.
• The family living in a kutcha (thatched) house or one pucca room with concrete roof are eligible for the scheme.
• Persons having a monthly income below ₹25,000 and availed housing assistance of ₹70,000 or below in the past would be considered eligible for this scheme.
• The Odisha government will pay the highest ₹60,000 subsidy for ₹3 lakh loan slab while vulnerable groups would get a subsidy of ₹70,000.
• The Odisha government had promised to convert all left-out kutcha houses into pucca ones.

About Odisha :

• Governor : Ganeshi Lal
• Chief Minister : Naveen Patnaik
• Capital : Bhubaneswar
• National Park : Simlipal National Park, Bhitarkanika National Park
• Wildlife Sanctuary : Ushakothi Wildlife Sanctuary, Tikarpada Wildlife Sanctuary

Haryana CM Manohar Lal Khattar launches community policing, outreach programme ‘Haryana Uday’

• Haryana Chief Minister (CM) Shri Manohar Lal launched the community policing outreach programme Haryana Uday from the Gurugram district of the state, another innovative initiative towards public welfare.
• The programme will be implemented across the state from 1 June 2023.
• Community Policing & Outreach Programme Haryana UDAY Programme aims to strengthen community relations and promote better relations between district administration, law enforcement agencies & public.

Key Highlights :

• Under Haryana UDAY, under the calendar of Chief Minister’s Outreach Program, during the month of June, Strong/ Fitman Haryana, 3-day Women’s Market in Gurugram and Yoga practice programs will be organized on 21 June on International Yoga Day.
• Apart from this, sports competitions for the age group of 60 years & above and 3-day Women’s Market will be organized in Faridabad during the month of July.
• The Community Policing Programme will be launched by The Commissioner of Police/Superintendent of Police in their respective districts from 1 June 2023.
• Also, the CM will review the six-monthly report of the programme along with a presentation from all the districts and the best 3 Deputy Commissioners/Commissioners of Police/Superintendents of Police will be awarded.

About Haryana :

• Governor : Bandaru Dattatreya
• Chief Minister : Manohar Lal Khattar
• Capital : Chandigarh
• Wildlife Sanctuary : Chhilchhila Wildlife Sanctuary, Bir Shikargah Wildlife Sanctuary
• National Park : Kalesar National Park, Sultanpur National Park

De-Addiction Centers To Be Established In Telangana

• The Telangana government headed by the Chief Minister Shri K.Chandrasekhar Rao has announced that at least one de-addiction centre would be established, in all 33 districts (one each).
• In these centres, people who are addicted to alcohol or other drugs are treated free of cost and they are being provided yoga therapy and counselling services.
• The setting up of new drug de-addiction centres in the state came a month after criticism from the High Court on the government’s delay in filing a response over the opening of such centres.
• After Andhra Pradesh’s bifurcation in 2014, the residual state of Andhra Pradesh developed 18 de-addiction centres in its 13 districts, while Telangana had not created a single.
• Regarding this, a public interest litigation was filed in the High Court in 2016 and a request was made to direct the state government to open drug de-addiction centres in all the districts.

About Telangana :

• Governor : Tamilisai Soundararajan
• Chief Minister : K. Chandrashekar Rao
• National Park : Mrugavani National Park,KBR National Park,
• Wildlife Sanctuary : Pakhal Lake And Wildlife Sanctuary, Eturnagaram Sanctuary,Kinnerasani Wildlife Sanctuary

CURRENT AFFAIRS: AWARDS AND HONOURS

The winners at the 76th Cannes Film Festival

• 76th edition of the Cannes Film Festival concluded.
• Justine Triet’s Anatomy of a Fall won the Palme d’Or, which is the highest prize awarded at the Cannes Film Festival.
• French director Justine Triet is the third woman to win the top prize at the Cannes Film Festival.
• Jane Campion won the Palme d’Or for The Piano (1993) and Julia Ducournau won it for Titane (2021).

List of Winners:

• This year, two Honorary Palme d’Or were awarded to Michael Douglas and Harrison Ford.
• Ruben Ostlund served as jury president.
• Jonathan Glazer’s The Zone of Interest won the Grand Prix award.
• Japanese actor Koji Yakusho won the best actor award for his role in Wim Wenders’s Perfect Days.
• Turkish actress Merve Dizdar won the Best Actress prize for her role in Nuri Bilge Ceylan’s About Dry Grasses. Other winners are given in the next table.
• Best director – Tran Anh Hung for “The Pot-au-Feu”
• L’Oeil d’or (Golden Eye) award for best documentary – Jointly won by Kaouther Ben Hania’s Four Daughters and The Mother of All Lies by Asmae El Moudir.

Hrithik Roshan and Alia Bhatt win the award for best actor at IIFA 2023.

• Hrithik Roshan won Best Actor in a Leading Role (male) award at the International Indian Film Academy Awards (IIFA) 2023 held in Abu Dhabi.
• Alia Bhatt also won the award for Best Actor in a Leading Role (Female) for her role in the movie Gangubai Kathiawadi for her role in the film Gangubai Kathiawadi.
• While Alia was not present at the ceremony, producer Jayantilal Gada accepted the award on her behalf.
• Hrithik Roshan won best actor for Vikram Vedhan in Indian Film Academy Awards 2023.
• Ajay Devgn’s crime thriller Drishyam 2 won the award for best editing and Best film.
• Abhishek Bachchan and Vicky Kaushal hosted the award.
• Meanwhile, Brahmastra: Part One – Shiva was adjudged the best film of the year.
• The film won many other awards at the event, including Best Playback Singer (Female) – Shreya Ghoshal, Best Playback Singer (Male) – Arijit Singh and Best Supporting Actor (Female) – Mouni Roy.

Winners List:

• Best Picture – Drishyam 2.
• Best Director – R Madhavan (Rocketry: The Nambi Effect).
• Best Actor (Male) – Hrithik Roshan (Vikram Vedha).
• Best Actor (Female) – Alia Bhatt (Gangubai Kathiawadi).
• Outstanding Achievement in Indian Cinema – Kamal Haasan

CURRENT AFFAIRS: RANKING AND REPORTS

UNICEF-WHO-The World Bank: Joint child malnutrition estimates — levels and trends – 2021 edition

• The Joint Malnutrition Estimates (JME) report has been released by UNICEF, WHO and the World Bank.
• In line with global and regional trends, India continues to show a reduction in stunting and recorded 1.6 crore fewer stunted children under the age of five in 2022 than in 2012.
• However, wasting and rising level of obesity remains a matter of concern.
• Stunting among children under five in India fell from a prevalence rate of 41.6% in 2012 to 31.7% in 2022, reducing the number from 52 lakh to 36 lakh.
• With this, India’s share of the global burden of stunting decreased from 30% to 25% in the past decade.
• In 2022, the overall prevalence of wasting was 18.7% in India, with a 49% share in the global burden of this malnutrition indicator.
• The prevalence of obesity increased over a decade from 2.2% in 2012 to 2.8% in 2022, with the number increasing from 27.5 million to 31.8 million, contributing 8.8% to the global share.
• Globally, the prevalence rate of stunting is projected to decrease from 26.3% in 2012 to 22.3% in 2022.
• There was no improvement in worldwide weight issue, as its prevalence rate increased from 5.5% to 5.6%.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Tamil Nadu signs 6 MoUs worth ₹818.9 cr. with Japanese companies

• Tamil Nadu and Japanese companies signed six MoUs to bring an investment of ₹818.9 crores in the State.
• Guidance Tamil Nadu (the State’s nodal agency for investment promotion and single window facilitation) and KyoKuto Satrac signed MoU for establishing a 13-acre plant for manufacturing trailers and trucks.
• An MoU worth ₹155 crores has been signed by Mitsuba for the expansion of its plant at SIPCOT Gummidipoondi in the Tiruvallur district.
• Kohyei signed an MoU for setting up a plant for manufacturing polycarbonate sheets.
• Sato-Shoji Metal Works will invest ₹200 crores to set up a plant for manufacturing high-quality steel components.
• The Tamil Nadu government is setting up various industrial parks across the state.
• Tamil Nadu government has also launched ‘Naan Mudhalvan’, a skill development programme for school and college students.

CURRENT AFFAIRS: SPORTS NEWS

Chennai Super Kings win IPL 2023 beating defending champions Gujarat Titans by 5 wickets

• Chennai Super Kings won their 5th IPL title by defeating defending champions Gujarat Titans by 5 wickets at the Narendra Modi Stadium in Ahmedabad.
• The 2023 Indian Premier League was the 16th edition of the IPL.
• Chasing a revised target of 171 in 15 overs against Gujarat Titans, Chennai Super Kings achieved the target with the loss of 5 wickets on the last ball of the final over.

Awards:

• The Player of the Match was given to Devon Conway and Player of the Series was given to Shubman Gill.
• Purple cap – Mohammed Shami (28 wickets).
• Orange cap – Shubman Gill (890 runs).
• Emerging player of the season – Yashasvi Jaiswal.
• Catch of the Season – Rashid Khan.
• Most Valuable Player – Shubman Gill.
• Fairplay Award – Delhi Capitals.

India clinches title of CAVA Women’s Challenge Cup 2023

• India has won the NSC-CAVA Women’s Volleyball Challenge Cup title.
• NSC-CAVA Women’s Volleyball Challenge Cup was held in Kathmandu.
• India defeated Kazakhstan in the final at the National Sports Council’s Covered Hall in Tripureshwor, Kathmandu on 28 May 2023 and won the title.
• Nepal Volleyball Association has organised the event.
• National Sports Council supported it.
• Eight nations participated in it.
• In the competition, Kazakhstan became the runner-up.
• Nepal came third.
• Uzbekistan came fourth.
• Sri Lanka came fifth.
• Kyrgyzstan, Maldives and Bangladesh came sixth, seventh, and eighth, respectively.

CURRENT AFFAIRS: IMPORTANT DAYS

World Milk Day 2023: June 1

• On June 1^st, World Milk Day 2023 is observed all over the world.
• It is a global event celebrated all over the world annually on June 1st every year to celebrate the dairy industry and recognize milk as a globally important food.
• Between 9000 – 7000 B.C. The First Milk was observed.
• After mammals are domesticated in Neolithic times, humans begin to drink milk for sustenance.
• In 1300 A.D., Mongolians pack dried horse milk into a paste that can be reconstituted with water for long journeys.
• In the 1600s, Ice Cream was invented.
• Humanity finds a way to improve on a nice cool glass of milk in the 1600s with the invention of ice cream.
• In 1840, Milk was made accessible to places and Railways allow the transportation of milk from rural farming areas to cities in England.
• On June 1st, 2001, Milk Day became a worldwide event.
• The roots of global celebrations can be pinpointed in the United Nations (UN).
• The FAO of the United Nations, in specific, has been in charge of coordinating and publicizing WMD across the planet.
• In 2016, Russia, China, Canada, the EU, and more become self-sufficient with milk production and stop importing milk.

Global Parents Day 2023: June 1

• The Global Day of Parents is observed on the 1st of June every year.
• The Day honours parents throughout the world
• The inception of the Global Day of Parents can be traced back to 1983 when the Economic and Social Council and the Commission for Social Development called upon the Secretary-General to prioritize family-related issues. Subsequently, in 1989, the United Nations General Assembly declared 1994 as the International Year of the Family, highlighting the significance of families.
• Finally, in 2012, June 1 was officially designated as the Global Day of Parents through a proclamation by the General Assembly.
• The inaugural observance of the Global Day of Parents took place in 2013, marking a significant milestone in recognizing and celebrating the role of parents worldwide.

Daily CA One- Liner: June 1

• The Reserve Bank of India (RBI) became a net seller of US dollars in fiscal year 2023, after being a net purchaser for three consecutive years.
• YES Bank unveiled its new logo as part of its “refreshed brand identity”, and expects to roll it out across its branch network over the next three months.
• Razorpay has launched India’s fastest one-step UPI (unified payments interface) payment solution,‘Turbo UPI’ that allows customers of online merchants to make UPI payments directly without getting redirected to a third-party UPI app during checkout.
• Tata Consultancy Services (TCS) announced that Ikano Bank AB in Sweden has selected the TCS BaNCS Global Banking SaaS Platform for its pan-Europe core banking transformation.
• Draft valuation rules for overseas investments into startups under the ‘angel tax’ regime have been announced & the rules have been issued by the Central Board of Direct Taxes (CBDT).
• Yubi, an online debt marketplace that connects borrowers and lenders for various credit products, announced its partnership with Indian Bank to extend digital supply chain financing solutions to small and medium-sized businesses (SMEs).
• Bank of Maharashtra (BoM) has emerged as the best bank as far as management of bad loans is concerned with its net non-performing assets (NPAs) falling as low as 0.25% during the financial year ended March 2023.
• Northeast’s first Vande Bharat Express will connect Guwahati to New Jalpaiguri.
• The Government has decided to waive off Inter-State Transmission Charges (ISTS) for Off-Shore Wind Projects
• The National Level Steering Committee (NLSC) has decided to extend Atal Bhujal Yojana to additional two years. Its original end year was 2025
• India’s urban unemployment rate has fallen to 6.8% in Q4 of FY23
• 76th edition of the Cannes Film Festival concluded
• Hrithik Roshan won Best Actor in a Leading Role (male) award at the International Indian Film Academy Awards (IIFA) 2023 held in Abu Dhabi
• The Joint Malnutrition Estimates (JME) report has been released by UNICEF, WHO and the World Bank
• Tamil Nadu and Japanese companies signed six MoUs to bring an investment of ₹818.9 crores in the State
• Nepal decided to allow India’s Satluj Jal Vidyut Nigam (SJVN) Limited to develop a second hydropower project in the country.
• Odisha Chief Minister (CM) Shri Naveen Patnaik announced the launch of the ‘Mo Ghara’ (My House) a credit-linked housing scheme to provide financial assistance to people of states for completing or upgrading their houses.
• Haryana Chief Minister (CM) Shri Manohar Lal launched the community policing outreach programme Haryana Uday from the Gurugram district of the state, another innovative initiative towards public welfare.
• The Telangana government headed by the Chief Minister Shri K.Chandrasekhar Rao has announced that at least one de-addiction centre would be established, in all 33 districts (one each).
• Chennai Super Kings won their 5th IPL title by defeating defending champions Gujarat Titans by 5 wickets at the Narendra Modi Stadium in Ahmedabad
• India has won the NSC-CAVA Women’s Volleyball Challenge Cup title
• On June 1^st, World Milk Day 2023 is observed all over the world
• The Global Day of Parents is observed on the 1st of June every year