Daily Current Affairs June 11 & 12 2023 | Latest News

 

CURRENT AFFAIRS : BANKING & FINANCE

Global Alliance for Mass Entrepreneurship & SIDBI To Launch NBFC Growth Accelerator Program   

• Global Alliance for Mass Entrepreneurship (GAME) has received in-principal approval from Small Industries Development Bank of India (SIDBI) for designing and structuring a sustainable and scalable Non-Banking Finance Company (NBFC) Growth Accelerator Program (NGAP).
• The ultimate goal of the NGAP framework is to enable a larger set of NBFCs to get access to institutional funding at a reasonable rate, so the benefit can be passed on to the MSMEs.

Key Highlights :

• In the first phase, the programme involves the design of a comprehensive, actionable, granular report with the programme structure, piloting strategy and implementation plan for NGAP by GAME.
• The programme will also include criteria for the evaluation and selection of around 20 NBFCs that are small in size but focused on the Medium & Small Enterprise (MSE) segment to be part of the pilot cohort.
• NGAP is expected to be rolled out with active engagement of SIDBI from August 2023.

About SIDBI :

• Established : 2 April 1990
• Headquarters : Lucknow, Uttar Pradesh, India
• Chairman & MD : Sivasubramanian Ramann
• SIDBI is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India.
• It is under the jurisdiction of Ministry of Finance , Government of India (GoI).

Samco launches India’s 1st actively managed momentum fund – SAMCO active momentum fund

• The SAMCO Asset Management Private Limited has launched India’s first actively managed momentum fund – SAMCO Active Momentum Fund.
• The SAMCO Active Momentum Fund’s new fund offer (NFO) runs from June 15-29, 2023.

Who Can Invest?

• Investors seeking to employ a momentum investing strategy to achieve long-term capital appreciation can consider the SAMCO Active Momentum Fund.

About SAMCO Active Momentum Fund :

• SAMCO Active Momentum Fund is an open-ended equity scheme following momentum theme with Benchmark Nifty 500 Index TRI.
• The Fund meticulously selects stocks with momentum characteristics such as breakouts, price leadership, and more, deploying a proprietary momentum-seeking algorithm.
• In Momentum investing, active management offers several unique advantages such as a wider investible universe, quicker rebalancing and hedging flexibility during periods of anti-momentum.
• The face value of each unit during the New Fund Offer (NFO) is 10, with a minimum application amount of Rs. 5,000 and multiples of Rs. 1 thereafter.
• CEO of SAMCO Asset Management Private Limited : Viraj Gandhi

India raises tax exemption limit to ₹25 lakhs for Non-Government Employees 

• In a move aimed at providing significant relief to non-government salaried employees, the central government has announced a substantial increase in the limit Rs 25 lakhs for tax exemption on leave encashment.
• This decision follows the proposal made by the finance minister Smt Nirmala Sitharaman during the Budget speech earlier 2023.
• The maximum limit of 3 lakh rupees for tax exemption on leave encashment upon retirement of non-government salaried employees was last time fixed in 2002.
• At that time, the highest basic pay in the government was 30,000 rupees per month.
• The new limit will apply in the new Income Tax regime as well as old one.

About MoF :

• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Bhagwat Karad,Pankaj Choudhary

CURRENT AFFAIRS: NATIONAL NEWS

The Government approves projects to the tune of more than Rs 7,500 Cr. for the development of modern fishing harbours and fish landing centres

• Union Minister of Fisheries, Animal Husbandry and Dairying Shri Parshottam Rupala and Minister of Ports Shipping and Waterways Shri Sarbananda Sonowal has laid the foundation stone for the project on Modernization and Up-gradation of Cochin Fishing Harbour at Thoppumpady, Samudrika Hall, Willingdon Island, Cochin Port Authority, Cochin.
• The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Govt. of India in March 2022 sanctioned the proposal of Cochin Port Trust for Modernization and upgradation of Cochin Fishing Harbour at Thoppumpady at a total cost of Rs.169.17 crore with central financial assistance of Rs.100 crore under PMMSY in a convergence with the Ministry of Ports, Shipping and Waterways under Sagarmala.
• The project will benefit 700 fishing boats operating at Cochin fishing harbor, which will support direct livelihoods of about 10000 fishers and indirect livelihoods of about 30000 fishers across the value chain.
• The main activities taken up under modernization include the establishment of air-conditioned Auction halls, Fish dressing unit, a Packaging unit, internal roads, loading & unloading platforms, Office, a Dormitory and Food court.
• The project has PPP component of Rs.55.85 crore which include components such as establishment of cold storages, slurry & tube ice plants, multi-level car parking facility, reverse osmosis plant, food court, retail market etc.
• The Government has approved projects to the tune of more than Rs 7,500 Cr. for the development of modern fishing harbours and fish landing centres under Fisheries and Aquaculture Infrastructure Development Fund (FIDF), Sagarmala scheme and Pradhan Mantri Matsya Yojana (PMMSY) Scheme.

Shri Nitin Gadkari inaugurates  Shelad to Nandura section costing Rs 816 crores on Amravati-Chikhali NH53 in Maharashtra

• Union Minister for Road Transport and Highways Shri Nitin Gadkari inaugurated the Shelad to Nandura project costing Rs 816 crores on Amravati-Chikhali National Highway 53 at Khamgaon , Buldhana, Maharashtra.
• National Highway 53 is important as an important trade link between Gujarat, Maharashtra, Chhattisgarh and Odisha or states in the country.
• Also, this highway is a highway connecting Nandurbar, Dhule, Jalgaon, (Khamgaon) Buldhana, Akola, Amravati, Nagpur and Bhandara districts of Maharashtra.
• This highway is also important as it has good connectivity for Raipur-Nagpur-Surat or East-West corridor.
• The total length of the quadrangle project of Sadar Shelad-Nandura division is 45 km and includes 14 km greenfield bypass, 4 major bridges, 16 minor bridges, 63 culverts, 1 ROB, 8 vehicle underpasses, 2 pedestrian underpasses, 12 bus shelters.
• This project will be useful for the famous silver market of Silver City Khamgaon, which is a subdivision of Buldhana district.
• A program was announced for the Malkapur-Buldhana-Chikhli road with a cost of Rs 1,200 crore and Balapur-Shegaon or 22 km road with a cost of Rs 350 crore.
• Besides, approval was given for the work of 25 crores from Chikhali to Thakarkhed and other roads.

Dr. Jitendra Singh inaugurates 2 day ‘Start-up Conclave’ at Udhampur organized by CSIR-IIIM:

• Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh, the Start-up movement promoted by PM Narendra Modi is now reaching every part of India including the B-Towns and the 2-day “Young Start-up Expo” at Udhampur in Jammu and Kashmir offers an opportunity to explore new avenues for industry as well as entrepreneurs in the region.
• Jitendra Singh said, under PM Narendra Modi, Jammu and Kashmir is given the top most priority in everything which is the reason that J&K is competing in terms of development with the developed states and UTs in India.
• The StartUp conclave was attended by Chairperson DDC Udhampur, Sh. Lal Chand, Vice Chairperson DDC, Juhi Manhas Pathania, Director CSIR-IIIM, Dr. Zabeer Ahmed, Deputy Commissioner Udhampur, Sh. Sachin Kumar Vaishya, DIG Udhampur-Reasi Range, Sh. Mohammad Suleman Choudhary, SSP Udhampur, Dr. Vinod Kumar besides BDCs, DDCs and other officers of district administration.

CAG to host SAI20 Summit under India’s G20 Presidency in Goa:

• The Comptroller and Auditor General of India (CAG) is hosting a three-day SAI20 Summit under India’s G20 Presidency in Goa.
• Supreme Audit Institutions (SAI20) is the Engagement Group of Audit organisations belonging to the G20 countries.
• CAG Girish Chandra Murmu will deliver the inaugural address at the SAI20 Summit tomorrow.
• Akashvani correspondent reports that SAIs of Australia, Brazil, Indonesia, South Korea, Russia, Saudi Arabia, Türkiye, Bangladesh, Egypt, Mauritius, Nigeria, Oman, Spain, UAE, Morocco and Poland will participate in the Summit.
• Besides, delegates from invitee countries and International Organisations will also attend the event.
• The SAI20 Engagement Group’s two priority areas are – Blue Economy and Responsible Artificial Intelligence (AI).
• During the SAI20 Summit, the Comptroller and Auditor General of India(CAG) is expected to present a summary of the Blue Economy and Responsible Artificial Intelligence (AI).
• Blue Economy is the sustainable use of oceanic resources for economic growth, improved livelihoods, and jobs while preserving the health of the ecosystem.
• With AI making greater inroads into governance, adopting it into audit techniques can increase their effectiveness.
• The SAI20 Summit will offer a platform for sharing knowledge and experiences by eminent panelists during the insights on the Blue Economy and Responsible AI.

PM Modi to inaugurate first-ever National Training Conclave at International Exhibition & Convention Centre in New Delhi

• The first-ever National Training Conclave aimed at strengthening the training infrastructure for civil servants across the country starts in New Delhi.
• Prime Minister Narendra Modi will inaugurate the Conclave at the International Exhibition and Convention Centre at Pragati Maidan.
• The Conclave is being hosted by the Capacity Building Commission.
• More than one thousand 500 representatives from various training institutes, including Central Training Institutes, State Administrative Training Institutes, Regional and Zonal Training Institutes, and Research institutes will participate in the conclave.
• Civil Servants from the Central government departments, State governments, and local governments, as well as experts from the private sector, will take part in the deliberations.
• The Conclave will have eight-panel discussions, each focusing on key concerns related to Civil services training institutes such as faculty development, training impact assessment, and content digitisation.

Government announces the second edition of Antarashtriya Yoga Diwas Media Samman:

• The Union Ministry of Information and Broadcasting announced the second edition of Antarashtriya Yoga Diwas Media Samman.
• Under the Antarashtriya Yoga Diwas Media Samman 2023, thirty-three Sammans will be given out under three categories, Print, Television, and Radio in twenty-two Indian languages and English.
• Eleven Sammans in 22 Indian languages and English will be conferred under the category Best Media Coverage in Yoga in Newspaper.
• Eleven Sammans in 22 Indian languages and English will be conferred under the category Best Media Coverage in Yoga in Electronic Media (TV).
• Eleven Sammans in 22 Indian languages and English will be conferred under the category Best Media Coverage in Yoga in Electronic Media (Radio).
• The Samman will be recommended by an independent Jury.
• The Samman will comprise a special media or plaque or trophy and a citation.
• The guidelines require Media Houses to submit details in a prescribed format along with relevant clippings of articles created and published or audio or visual content telecast or broadcast made during the period 10th June 2023 to 25th June 2023.
• The last date for entries is 1st July 2023.

CURRENT AFFAIRS : INTERNATIONAL NEWS

UNDP launches 3rd cohort of 4 ocean innovators 

• The United Nations Development Programme (UNDP) launched its 3rd cohort of 4 ocean innovators to demonstrate the compelling roles of marine spatial planning (MSP), marine protected areas (MPAs) and new environmentally and socially sustainable economic activities for a healthy and resilient ocean.
• UNDP’s Ocean Innovation Challenge (OIC) will provide financial, mentoring and incubator support to these 4 ocean innovators, thereby contributing to Sustainable Development Goal 14 (SDG14 targets 14.2, 14.5 and 14.7).
• Through its Ocean Promise, UNDP has committed to deliver at least 100 Ocean Innovations by 2030.
• Supported by Sida and Norad, the 3rd cohort receives financial support to ocean innovators of up to US$250,000 for 2 years, mentors and incubates innovative solutions that are transformational, scalable and replicable.

About the 3rd cohort of UNDP Ocean Innovators:

• DHI – Mapping and Monitoring of Ecosystems at Scale with Copernicus Sentinel- 2 Imagery – a tropical system application in Malaysia.
• University of Rhode Island – Ensuring community roles in complex multiple use areas in Madagascar
• International Union for Conservation of Nature – SEA Success in Bangladesh and Thailand
• Mersea Marine Consulting – Exotic Pufferfish Leather Products in Turkey

About UNDP :

• Established : 22 November 1965
• Headquarters : New York, United States
• Administrator : Achim Steiner
• The UNDP is a United Nations agency tasked with helping countries eliminate poverty and achieve sustainable economic growth and human development.
• It was founded with the merging of the United Nations Expanded Programme of Technical Assistance (EPTA) and the Special Fund.

CURRENT AFFAIRS : STATE NEWS

Madhya Pradesh government to launch ‘Ladli Bahna’ scheme to make women financially independent 

• The Government of Madhya Pradesh (MP) launched a unique scheme namely Mukhyamantri Ladli Bahna Yojana to make women financially independent.
• In this scheme, each woman aged between 23-60 years will be given 1000 rupees per month.

Goal :

• To enhance women’s economic independence, improving their health and nutrition status and expanding their influence over family decisions.

Eligibility :

• Women who are not Income tax payers and their families annual income below Rs 2.5 lakhs.
• Shri Shivraj Singh Chouhan will deposit the 1st month’s amount of this scheme in the bank accounts of about 1.25 crore women at a State-level function in Jabalpur, MP.

Other Key Highlights :

• The MP government has also issued a phone number 181 for the help of women.
• Apart from this, Ladli Bahna Army will also be formed for women empowerment and security.
• This Army will help in providing security to women and take benefits of government schemes.

About MP :

• Governor : Mangubhai C. Patel
• Chief Minister : Shivraj Singh Chouhan
• Capital : Bhopal
• National Park : Satpura National Park, Kanha National Park,Bandhavgarh National Park
• Wildlife Sanctuary : Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

NIMAS launches Har Shikhar Tiranga unique expedition to hoist tricolour at highest point of all states

• Arunachal Pradesh Chief Minister Shri Pema Khandu flagged off Mission Har Shikhar Tiranga (HST), from Mountaineers of the National Institute of Mountaineering and Adventure Sports (NIMAS), Dirang.
• It is a unique expedition to hoist the national flag on the highest point of every state of India for the first time.

About Har Shikhar Tiranga :

• It is a campaign under the aegis of the Azadi Ka Amrit Mahotsav to take the tricolour to all the states of the country and hoist it on the summits to mark the 75th year of independence and to commemorate India’s Group of 20 (G20) presidentship.
• It is the brainchild of Colonel Jamwal who is a veteran of more than 52 successful expeditions and is the only Indian to have summited Mount Everest 3 times and climbed the 7 Summits, touching the highest points of the 7 continents.
• The summit will begin from summiting Reo Purgyil in Himachal Pradesh and ends at Mt Jongsong in Sikkim.
• The lowest in terms of elevation will be Someshwar Fort in Bihar which is around 800 m.

Highest climbable mountain in India:

• The highest peak under Indian control is Kanchenjunga (8,586 m) in Sikkim but is closed for climbs.
• The next is Nanda Devi (7,816 m) but it’s a world heritage site and national biosphere reserve.
• Thus the highest climbable mountain in India is Mt Kamet (7,756 m) in Uttarakhand.

About NIMAS :

• NIMAS is an autonomous institute under the Indian Ministry of Defence, which provides specialized training in mountain rescue, mountaineering and adventure sports.
• It is the first National Institute of India mandated to conduct adventure courses in the field of land, air and aqua.
• First director of NIMAS : Col Sarfraz Singh

About Arunachal Pradesh :

• Governor : Kaiwalya Trivikram Parnaik
• Chief Minister : Pema Khandu
• Capital : Itanagar
• National Park : Mouling National Park
• Wildlife Sanctuary : Itanagar wildlife sanctuary

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

TransUnion CIBIL Appoints V Anantharaman as Chairman

• TransUnion CIBIL, India’s leading insights and information company, has announced the appointment of V Anantharaman as non- executive chairman.
• Anantharaman takes over from M V Nair, who steps down after more than 11 years as the Chairman.

About  V Anantharaman :

• Anantharaman is an industry veteran who brings over three decades of experience in the financial services sector having led corporate and investment banking teams in leading international firms including Standard Chartered Bank, Credit Suisse, Deutsche Bank and Bank of America.
• He has also served as a senior advisor to the UK’s development finance institution British International Investment (formerly CDC).
• In addition to his new role at TransUnion CIBIL, Anantharaman also serves on the boards of The Indian Hotels Company Limited, Axis Asset Management Company, IIFL Home Finance Limited and Ecom Express Limited.
• He also provides advisory services to Lighthouse Funds, a mid-market private equity firm focused on the consumer and healthcare sectors.

About TransUnion CIBIL Limited :

• Establishment : 2000
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Rajesh Kumar
• TransUnion Credit Information Bureau India Limited (CIBIL) is a credit information company operating in India.
• TransUnion is one of four credit bureaus operating in India and is part of TransUnion, an American multinational group
• The company maintains credit files on approximately 600 million individuals and 32 million businesses.
• The company provides loan related information to lenders, financial institutions and individuals seeking loan assistance.

Indian-American Ritu Kalra appointed as Harvard’s VP Finance & CFO 

• Ritu Kalra, an Indian-American investment banking and financial management expert, has been named Harvard University’s vice president (VP) for finance and chief financial officer (CFO) from July 1,2023.

Roles & Responsibilites :

• Kalra will oversee all aspects of financial management, including long-range planning, annual budgeting, endowment fund spending policy, treasury, and financial accounting and reporting.
• Kalra currently serves as Harvard’s assistant vice president of finance and treasury and special projects adviser.

UK’s Birmingham Gets First Indian-Origin Lord Mayor – Chaman Lal

• Councillor Chaman Lal has become the first ever British-Indian Sikh to take oath as Birmingham’s Lord Mayor.

About Chaman Lal :

• Chaman Lal was born in Punjab’s Hoshiarpur district & Lal came to England in 1964.
• He joined the Labour Party in 1989 and has taken part in many social justice campaigns to challenge inequality and all forms of discrimination.
• He first elected to Soho and Jewellery Quarter ward in 1994, he has served the city council for the past 30 years.
• Prior to his appointment to the ceremonial role of Birmingham’s First Citizen, Lal held various posts, including Chair of Sustainability and Transport Overview and Scrutiny Committee (OSC), and membership of Co-ordinating OSC and West Midlands Combined Authority Transport Scrutiny Sub-Committee.

About UK :

• Prime Minister : Rishi Sunak
• Capital : London
• Currency : Pound sterling

CURRENT AFFAIRS : DEFENCE NEWS

1st India, France, UAE hold maiden maritime exercise held in Gulf of Oman  

• Navies of India, France and the United Arab Emirates (UAE) held the maiden trilateral maritime partnership exercise held in the Gulf of Oman.

Participants :

• Indian Naval Ship (INS) Tarkash and French Ship Surcouf both with integral helicopters, French Rafale aircraft and UAE Navy Maritime Patrol Aircraft are participating in the exercise.

Aim :

• To enhance trilateral cooperation between the three navies and pave the way for adopting measures towards addressing traditional and non-traditional threats in the maritime environment.

Key Highlights :

• The exercise scheduled over two days will witness a wide spectrum of naval operations such as Surface Warfare, involving tactical firing and Drills for Missile engagements on surface targets, Helicopter Cross Deck Landing Operations, Advanced Air Defence Exercise and Boarding operations.
• The exercise would also include cross embarkation of personnel for exchange of best practices.
• The exercise will also enhance collaboration in ensuring safety of mercantile trade and freedom of navigation at high seas in the region.

About Ministry of Defence : 

• Defence Minister :  Rajnath Singh
• Minister of State : Ajay Bhatt
• Defence Secretary : Giridhar Aramane

About France :

• President : Emmanuel Macron
• Prime Minister : Élisabeth Borne
• Capital : Paris
• Currency : Euro

About UAE :

• President : Mohamed bin Zayed Al Nahyan
• Prime Minister : Mohammed bin Rashid Al Maktoum
• Capital : Abu Dhabi
• Currency : UAE dirham

Bangladesh-US joint naval exercise ‘Tiger Shark 40’ begins in Chattogram  

• The Joint Bangladesh-United States (US) Naval drill Exercise ‘Tiger Shark 40’ started at BNS Nirvik in
• Special Forces of Bangladesh Army & Navy and US Special Forces participated in this training exercise held under the management of Commodore Swords Command.

Objective :

• To increase strategic capabilities of both the countries and to acquire mutual technical and procedural knowledge.
• Chattogram Naval Area Commander Rear Admiral Abdullah AL Mamun Chowdhury attended the event as the Chief Guest.
• The Special Warfare Diving and Salvage is an elite special operational unit of the Bangladesh Navy.
• Its base is formally called BNS Nirvik.

About Bangladesh :

• President : Mohammed Shahabuddin
• Prime Minister : Sheikh Hasina
• Capital : Dhaka
• Currency : Taka

CURRENT AFFAIRS: SPORTS NEWS

French Open: Iga Swiatek of Poland wins Women’s Singles title

• In French Open tennis, World No 1 and top seed Iga Swiatek of Poland has won the Women’s Singles crown.
• She defended her title against unseeded Czech Karolina Muchova 6-2, 5-7, 6-4.
• This is her third French title in just 5 years.
• In Men’s singles, third seed Serbian Novak Djokovic will meet Fourth seed Norwegian Casper Ruud in the finals.
• Djokovic will be eyeing history in the final as he is just one win away from the men’s record 23rd Grand Slam singles title.

India’s long jumper Murali Sreeshankar finishes third at prestigious Diamond League Meet in Paris:

• Ace Indian long jumper Murali Sreeshankar secured a creditable third place in the Paris Diamond League with a jump of 8.09m, in his maiden podium finish in the prestigious one-day meeting series in Paris.
• Commonwealth Games silver medallist Sreeshankar achieved his best jump of the day in his third attempt.
• Sreeshankar also became the only third Indian to finish in the top three of a Diamond League after Olympic champion javelin thrower Neeraj Chopra and former discus thrower Vikas Gowda.
• Olympic Champion Miltiadis Tentoglou of Greece and Simon Ehammer of Switzerland finished ahead of Sreeshankar with jumps of 8.13m and 8.11m respectively.
• Prime Minister Narendra Modi and Sports Minister Anurag Singh Thakur have congratulated Indian long jumper Murali Sreeshankar for his rare feat.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

World’s most powerful wind tunnel JF-22 opens in Beijing, China

• China has completed the construction of the most powerful largest & fastest wind tunnel in the world, called JF-22 located in the mountainous Huairou district of northern Beijing, China.
• The Institute of Mechanics, which owns the facility, stated that the JF-22 wind tunnel will play a crucial role in advancing China’s hypersonic ambitions.

About JF-22 :

• The wind tunnel, , has a diameter of 4 metres (13 feet) and can generate incredibly high airflow speeds of up to 10 kilometres (6.2 miles) per second.
• This makes it capable of simulating hypersonic flight conditions up to Mach 30, which is 30 times the speed of sound.
• The tunnel will support research and development efforts for China’s space transport system and hypersonic aircraft, as well as for military purposes.

About China :

• President : Xi Jinping
• Capital : Beijing
• Currency : Renminbi

CURRENT AFFAIRS : OBITUARIES

Kerala’s 1st ‘Ashoka Chakra’ winner Havildar Alby D’Cruz passed away 

• The first recipient of the Ashoka Chakra from Kerala, Havaldar Alby D’Cruz passed away at the age of 87.
• D’Cruz joined the Indian Army as a Lance naik in the paramilitary force- Assam Rifles as a radio officer and his battalion was given the job of busting the Naga rebels.

Awards & Honors :

• In 1962, he received the Asoka Chakra (Class III) from the country’s first president Rajendra Prasad.
• Since 1967, this award has been called ‘Shaurya Chakra’

About About Ashoka Chakra :

• The Ashoka Chakra is India’s highest peacetime military decoration awarded for the “most conspicuous bravery or some daring or pre-eminent valour or self-sacrifice” other than in the face of the enemy.
• Havildar Bachittar Singh and Naik Narbahadur Thapa were the first recipients of the Ashoka Chakra.

CURRENT AFFAIRS: IMPORTANT DAYS

World Day Against Child Labour 2023: June 12

• Every year on June 12th, around 100 countries throughout the world commemorate World Day Against Child Labor.
• In 1919, The International Labour Organization (ILO) was founded with the goal of promoting social justice and establishing International Labor Standards.
• ILO has 137 states as members.
• Since then, the ILO has enacted additional agreements aimed at improving labour conditions across the world.
• In 1973, The International Labor Organization (ILO) enacted Convention Number. 138 which focused on the minimum age for work.
• Its goal is for member nations to raise the minimum employment age and eliminate child labour.
• In 1999, The ILO convention number 182, often known as the “Worst Forms of Child Labour Convention,” was approved.
• Its goal is to take the required and quick steps to end the worst type of child labour.
• In 2002, The World Day Against Child Labor was founded by the International Labour Organization (ILO), the United Nations entity that oversees the worldwide community of labour.
• It ensures that many children aged 5 to 17 have a normal childhood by providing them with proper schooling, medical services, leisure time, or just basic liberties.

Daily CA One- Liner: June 11 & 12

• Global Alliance for Mass Entrepreneurship (GAME) has received in-principal approval from Small Industries Development Bank of India (SIDBI) for designing and structuring a sustainable and scalable Non Banking Finance Company (NBFC) Growth Accelerator Program (NGAP).
• The SAMCO Asset Management Private Limited has launched India’s first actively managed momentum fund – SAMCO Active Momentum Fund.
• In a move aimed at providing significant relief to non-government salaried employees, the central government has announced a substantial increase in the limit Rs 25 lakhs for tax exemption on leave encashment.
• The United Nations Development Programme (UNDP) launched its 3rd cohort of 4 ocean innovators to demonstrate the compelling roles of marine spatial planning (MSP), marine protected areas (MPAs) and new environmentally and socially sustainable economic activities for a healthy and resilient ocean.
• Union Minister of Fisheries, Animal Husbandry and Dairying Shri Parshottam Rupala and Minister of Ports Shipping and Waterways Shri Sarbananda Sonowal has laid the foundation stone for the project on Modernization and Up-gradation of Cochin Fishing Harbour at Thoppumpady, Samudrika Hall, Willingdon Island, Cochin Port Authority, Cochin
• Union Minister for Road Transport and Highways Shri Nitin Gadkari inaugurated the Shelad to Nandura project costing Rs 816 crore on Amravati-Chikhali National Highway 53 at Khamgaon , Buldhana, Maharashtra
• Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh, the Start-up movement promoted by PM Narendra Modi is now reaching every part of India including the B-Towns and the 2-day “Young Start-up Expo” at Udhampur in Jammu and Kashmir offers an opportunity to explore new avenues for industry as well as entrepreneurs in the region
• The Comptroller and Auditor General of India (CAG) is hosting a three-day SAI20 Summit under India’s G20 Presidency in Goa
• Ministry of Information and Broadcasting announced the second edition of Antarashtriya Yoga Diwas Media Samman
• The first-ever National Training Conclave aimed at strengthening the training infrastructure for civil servants across the country starts in New Delhi
• In French Open tennis, World No 1 and top seed Iga Swiatek of Poland has won the Women’s Singles crown
• Ace Indian long jumper Murali Sreeshankar secured a creditable third place in the Paris Diamond League with a jump of 8.09m, in his maiden podium finish in the prestigious one-day meeting series in
• The Government of Madhya Pradesh (MP) launched a unique scheme namely Mukhyamantri Ladli Bahna Yojana to make women financially independent.
• Arunachal Pradesh Chief Minister Shri Pema Khandu flagged off Mission Har Shikhar Tiranga (HST), from Mountaineers of the National Institute of Mountaineering and Adventure Sports (NIMAS), Dirang.
• TransUnion CIBIL, India’s leading insights and information company, has announced the appointment of V Anantharaman as non- executive chairman.
• Ritu Kalra, an Indian-American investment banking and financial management expert, has been named Harvard University’s vice president (VP) for finance and chief financial officer (CFO) from July 1,2023.
• Councillor Chaman Lal has become the first ever British-Indian Sikh to take oath as Birmingham’s Lord Mayor.
• Navies of India, France and the United Arab Emirates (UAE) held the maiden trilateral maritime partnership exercise held in the Gulf of Oman.
• The Joint Bangladesh-United States (US) Naval drill Exercise ‘Tiger Shark 40’ started at BNS Nirvik in
• China has completed the construction of the most powerful largest & fastest wind tunnel in the world, called JF-22 located in the mountainous Huairou district of northern Beijing, China.
• The first recipient of the Ashoka Chakra from Kerala, Havaldar Alby D’Cruz passed away at the age of 87.
• Every year on June 12th, around 100 countries throughout the world commemorate World Day Against Child Labor