Daily Current Affairs June 25 & 26 2023 | Latest News

 

CURRENT AFFAIRS : BANKING & FINANCE

LIC launches close-ended Dhan Vridhhi plan

• The Life Insurance Corporation of India (LIC) has launched Dhan Vriddhi, a single-premium, non-participating endowment plan.
• It is a limited-time guaranteed returns policy that will be available for purchase up to September 30, 2023.
• This plan provides financial support to the family in case of unfortunate death of the life assured during the policy term.
• It also provides a guaranteed lump sum amount on the date of maturity to the assured.

About Dhan Vriddhi :

• Dhan Vriddhi is a non-linked, non-participating, individual, savings, single premium life plan, offering a combination of protection and
• Customers under the LIC Dhan Vriddhi plan would have 2 options, where the amount promised on death might be25 times (option 1) or 10 times (option 2) the tabular premium for the chosen basic sum assured, subject to certain qualifying requirements.

Eligibility :

• The plan’s entry age ranges from 90 days to 8 years, depending on the insurance term selected.
• The maximum admission age varies from 32 to 60 years old, depending on the term and policy choice chosen.
• The minimum basic sum assured is Rs 1.25 lakh, with the opportunity to enhance it in multiples of Rs 5,000.
• The guaranteed additions shall accrue at the end of each policy year, throughout the policy term, and range from Rs 60 to Rs 75 in the first option and Rs 25 to Rs 40 in the second option for every Rs 1,000 of basic sum assured.
• The guaranteed additions are higher for a higher sum assured.
• A settlement option is available on maturity/death in monthly/quarterly/half-yearly/yearly intervals for 5 years.
• The plan also offers liquidity through a loan facility, which is available anytime after 3 months from the completion of the policy.

About LIC :

• Established : 1956
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Siddharth Mohanty

ADB approves $295million loan to improve transport connectivity in Bihar

• The Asian Development Bank (ADB) has approved a $295 million loan to widen and upgrade around 265 kilometres of state highways, improving transport connectivity and safety in the state of Bihar in India.
• The highways will be upgraded with climate- and disaster-resilient design, road safety elements, and other features that will respond to the needs of the elderly, women, children, and people with disabilities.
• The project will also encourage women’s participation by providing employment to female workers in construction works.
• Training in livelihood as well as awareness on road safety, health and hygiene, and abuse and harassment will be offered to women from communities in the project areas.
• Initiatives to strengthen transport planning, safety, and sustainability within Bihar State Road Development Corporation Limited will be implemented. These include developing a road asset management system which includes climate change and disaster risk information, establishing research laboratories with training equipment in the Bihar Road Research Institute, conducting studies on congestion management and climate adaptation, and creating guidelines for gender-inclusive practices in road safety measures.
• The government is contributing $156.6 million to the project.
• Since 2008, ADB has provided 5 loans totaling $1.63 billion to the state of Bihar, which have upgraded about 1,696 kilometres of state highways and constructed a new bridge over the Ganga River.

About ADB :

• Established : 19 December 1966
• Headquarters : Mandaluyong, Metro Manila, Philippines
• President : Masatsugu Asakawa

RBI imposes fine on Jammu and Kashmir Bank, Bank of Maharashtra, Axis Bank for breaking rules

• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.5 crore on Jammu & Kashmir Bank (J&K Bank), Rs 1.45 crore on Bank of Maharashtra (BoM), and Rs 30 lakh on Axis Bank for rule violations.

Penalty on J&K Bank :

• The penalty was imposed for non-compliance, with certain directions issued by RBI on the central repository of large common exposures across banks, loans, and advances, statutory and other restrictions’ and time-bound implementation and strengthening of SWIFT-related operational controls.
• The statutory inspection was conducted by RBI on March 31, 2021.

Penalty on Axis Bank :

• The fine was imposed for non-compliance with certain provisions of the RBI directions on Prudential Norms on Income Recognition, Asset Classification, and Provisioning pertaining to Advances – Credit Card Accounts.

Penalty on BoM :

• The penalty is for non-compliance with certain directions issued by RBI on Loans and Advances – Statutory and Other Restrictions and Advisory on Man in the Middle (MiTM) Attacks in
• Also, the bank failed to implement the required control measures for ATMs relating to end-to-end encryption of communication between the ATM terminal/PC and the ATM Switch, within the prescribed timeline.

About RBI :

• Founded : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

About Axis Bank :

• Founded : 3 December 1993
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

About BoM :

• Founded : 16 September 1935
• Headquarters : Pune, Maharashtra India
• MD & CEO : A. S. Rajeev
• Tagline : One Family One Bank

About J&K Bank :

• Founded : 1 October 1938
• Headquarters : Srinagar, Jammu and Kashmir, India
• MD & CEO : Baldev Prakash

CURRENT AFFAIRS: NATIONAL NEWS

India achieves milestone of 101 Million Cubic Meters per Day of gas production

• India has achieved the milestone of 101 Million Metric Standard Cubic Meters per Day of gas production.
• Union Minister Hardeep Singh Puri said, the feat reflects the untiring efforts of India’s energy soldiers and the impact of policy reforms.
• He said, it is a significant step towards becoming a gas-based economy.
• Since India imports about 50 per cent of its natural gas requirement, enhanced gas production within the country will reduce import dependence.
• It will bolster efforts towards a sustainable, affordable, and secure energy future for Indian citizens.

Dr. Mansukh Mandaviya addresses the 8th Global Pharmaceutical Quality Summit 2023 in Mumbai

• The Union Minister for Chemicals and Fertilisers and Health & Family Welfare Dr Mansukh Mandaviya addressed the 8th Global Pharmaceutical Quality Summit 2023 in Mumbai.
• Addressing the Summit, the Health Minister said that India played the role of pharmacy for the world during COVID-19 by ensuring an uninterrupted supply of quality medicines and vaccines to the world.
• Mandaviya said that the Indian Pharmaceutical industry has proved itself both in terms of quality and quantity.
• The Union Minister said that the world wants India to manufacture medicines and vaccines and we must leverage this unique opportunity by using our brand power and manpower.
• The Minister added that quality, research and development, and innovation are the need of the hour.
• The Indian Pharmaceutical Alliance (IPA) successfully concluded the 8th edition of the Global Pharmaceutical Quality Summit.
• The theme for the Summit was, ‘Patient Centricity: New Paradigm of Manufacturing and Quality’.
• The two-day Summit brought together industry leaders, global regulators, quality experts, and stakeholders to foster knowledge exchange and deliberate on areas of importance in shaping the pharmaceutical landscape in India.

Union Minister Anurag Thakur flagged off the “Bharat in Paris” campaign at JL Nehru Stadium in New Delhi

• The campaign has been launched by Indian Olympic Association (IOA) to create awareness and promote sports across India ahead of the Paris Olympics games.
• Union Sports Minister Anurag Singh Thakur flagged off “Bharat in Paris” campaign with a short marathon at Jawaharlal Nehru Stadium in New Delhi.
• The campaign has been launched by Indian Olympic Association (IOA) to create awareness and promote sports across India ahead of the Paris Olympics games.
• The 2024 Olympics will take place from 26 July to 11 August in France, at Paris.
• Mr Thakur said that the Target Olympic Podium Scheme was launched in 2014-15 and the government bears all the expenses of boarding, lodging and training of top athletes in their country and abroad.
• He added that in the past few years, India has scaled new heights in sports.
• The hockey junior teams, men and women both, won the Asia Cup, the shooters performed very well in the World Championship while the doubles pair of Satwik and Chirag reached sixth place in the world badminton rankings.

About IOA:

• President: P. T. Usha
• Founded: 1927
• Headquarters: New Delhi
• Secretary General: Rajeev Mehta

Dr Jitendra Singh launches the GEMCOVAC® -OM, an Omicron-specific mRNA-based Booster vaccine

• Union Minister of State (Independent Charge) for Science and Technology, MoS PMO, Department of Atomic Energy and Department of Space and MoS Personnel, Public Grievances and Pensions, Dr Jitendra Singh launched the GEMCOVAC® -OM, an Omicron-specific mRNA-based Booster vaccine.
• India’s first mRNA vaccine has been developed using the indigenous platform technology by Gennova, with funding support from the Department of Biotechnology (DBT) and Biotechnology Industry Research Assistance Council (BIRAC). A few days ago this vaccine got the nod from the office of the Drug Control General of India (DCGI) for Emergency Use Authorization (EUA).
• GEMCOVAC® -OM is the fifth vaccine developed with support from Mission COVID Suraksha implemented by DBT and BIRAC under Atmanirbhar Bharat 3.0 package of Govt. of India for accelerated development of Indian COVID-19 vaccines.
• GEMCOVAC® -OM is a thermostable vaccine and does not require ultra-cold chain infrastructure used for other approved mRNA- based vaccines.

CURRENT AFFAIRS : INTERNATIONAL NEWS

China & Pakistan sign $4.8 billion deal to build 1,200-megawatt nuclear power plant

• China and Pakistan signed an agreement of $4.8 billion to set up a 1,200-megawatt nuclear power plant in Punjab province.
• Pakistan Prime Minister Shehbaz Sharif witnessed the signing of the deal under which Beijing would build a 1,200-megawatt Chashma-V nuclear plant at Chashma in the Mianwali district of Punjab.
• It is a sign of increasing economic cooperation between Pakistan and China.

Key Highlights :

• Pakistan’s Chashma power plants are considered a key in the production of cheap nuclear power.
• Currently, Pakistan has 6 operating nuclear power plants.
• Pakistan’s total nuclear energy production is 1400 MegaWatt (MW).
• Pakistan’s sixth nuclear power plant was opened two years ago in Karachi.
• Karachi Nuclear Power Plant (KANUPP) is the first nuclear power plant in Pakistan.
• Pakistan was also engaged with the International Monetary Fund to finalise the 9th Review and met all conditions required by the Washington-based global lender.

About China :

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

About Pakistan :

• President : Arif Alvi
• Prime Minister : Shehbaz Sharif
• Capital : Islamabad
• Currency : Pakistani rupee

CURRENT AFFAIRS : STATE NEWS

Rajasthan government brings PCTS mobile app to ensure better healthcare for mothers & infants 

• The Medical, Health & Family Welfare Department of the Rajasthan Government has launched the Pregnancy, Child Tracking & Health Services Management System (PCTS) app which enables online tracking, reporting and monitoring of the health of pregnant women, obstetricians and infants.
• The PCTS was developed by the National Informatics Centre (NIC) as an Integrated Health Information Management System (HIMS).

Key Highlights :

• The PCTS app allows every ASHA Sahyogini in the state to reach women and infants in their respective areas and file reports on a daily basis regarding the health of mothers and children.
• There are over 53,000 ASHAs in Rajasthan.
• The ASHA Sahyoginis can use the PCTS app to access information about various health related services.
• This strengthens healthcare services for women and children and contributes to the improvement in the health of women and children.

About ASHA :

• Launched : 2005
• An Accredited Social Health Activist (ASHA) is a community health worker employed by the Ministry of Health and Family Welfare (MoHFW) as a part of India’s National Rural Health Mission (NRHM).

About Rajasthan :

• Governor : Kalraj Mishra
• Chief Minister : Ashok Gehlot
• Capital : Jaipur
• National Park : Keoladeo National Park, Ranthambore National Park
• Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

North India’s first Skin Bank inaugurated at New Delhi’s Safdarjung Hospital

• North India’s first skin bank has been inaugurated at Safdarjung Hospital in
• This facility serves as a repository where deceased donors can donate their skin, which can be utilized in the treatment of burns.

What is Skin Bank?

• A skin bank is a facility where skin from deceased persons can be donated.
• The skin can be donated within 6 hours of death and utilized for burns and trauma patients after processing.
• Kidneys and Liver cannot be stored and need to be transplanted within hours of donation.
• But in the scenario of skin, it can be stored for 3 to 5 years.
• There are 16 skin banks in the country, 7 in Maharashtra (highest), 4 in Chennai, 3 in Karnataka and 1 each in Madhya Pradesh (MP) and Odisha.
• Skin grafting reduces mortality, increases survival rates in patients and helps them achieve better treatment outcomes.
• It also reduces the overall cost of their hospital stay and treatment.
• 7-10 million people suffer burn injuries every year in India, it is the second most common cause of injury after road accidents.
• If a patient’s skin is severely burned or damaged and the area is not covered with a skin substitute, they may get an infection.
• Patients with skin infections, skin cancer treatments such as Mohs surgery, skin ulcers, and slow-healing or large wounds may benefit from skin grafting.

CURRENT AFFAIRS: BUSINESS NEWS

REC Limited to provide ₹ 3,045 Crores financial assistance to Bangalore Metro Rail Corporation Limited

• REC Limited, a Maharatna Central Public Sector Enterprise under the Union Ministry of Power, has decided to extend financial assistance of Rs. 3,045 crores to Bangalore Metro Rail Corporation Limited (BMRCL), for the establishment and development of Metro Lines under the Phase-II project of Bangalore Metro.
• The decision to extend the assistance was taken at the board meeting of REC, held in Bengaluru on 24th June, 2023, at which the Board approved the proposal of BMRCL.
• The Phase-II project of Namma Metro comprises extension of existing two corridors of Phase-I, namely East–West Corridor and North–South Corridor; and 2 new lines, namely one from R.V. Road to Bommasandra and another from Kalena Agrahara to Nagawara.
• These lines will traverse some of the densest and high-traffic areas of the city.
• Phase II of the project will enhance connectivity and ease traffic in the densely populated city of Bengaluru.
• With completion of Phase II (72.09 km), the combined network of Namma Metro shall stand at a line length of 114.39 km, with 101 stations.

About REC Ltd.

• REC Limited is an NBFC focusing on Power Sector Financing and Development across India.
• The financial assistance to BMRCL forms part of REC’s foray into funding infrastructure development.
• Established in 1969, REC Limited has completed over fifty years of operations.
• It provides financial assistance to the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy.
• REC’s funding illuminates every fourth bulb in India.

IREDA opens Paperless Business Centre at East Kidwai Nagar, New Delhi

• Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy, has set up a state-of-the-art Business Centre at NBCC Office Complex, East Kidwai Nagar, New Delhi.
• The new office incorporates cutting-edge technology and innovative solutions to eliminate the use of paper and promote efficient digital workflows throughout the organization.
• A significant milestone in IREDA’s commitment to sustainable practices, the office which is designed to operate in a completely paperless manner, has been inaugurated by IREDA Chairman & Managing Director, Pradip Kumar Das, in the presence of Chief Financial Officer R. C. Sharma, other senior officials and employees of the company.
• By adopting a paperless approach, IREDA aims to reduce its carbon footprint, minimize waste generation, and contribute to preservation of the environment.
• The new office at Kidwai Nagar has been meticulously designed to create an environment conducive to productivity, collaboration, and employee well-being.
• It boasts advanced amenities, such as dedicated spaces for Yoga, Meditation, and Fitness activities, enabling employees to prioritize their physical and mental well-being.

Google to invest 10 billion dollars in India’s digitisation fund

• Google is investing 10 billion dollars in India’s digitisation fund.
• He also announced the opening of Google’s global fintech operation centre in GIFT City, Gujarat.
• Prime Minister Narendra Modi separately met Google CEO Sundar Pichai, Amazon CEO Andrew Jassy, and Boeing CEO David Calhoun in Washington DC.
• Pichai said, Prime Minister’s vision for Digital India was way ahead of his time and he now sees it as a blueprint that other countries are looking to do.
• Amazon CEO Andrew Jassy said, his company is one of the biggest investors in India.
• He said, they have already invested 11 billion dollars and with an intention to invest another 15 billion dollars bringing the total to 26 billion dollars.
• Boeing CEO David Calhoun said, the most important takeaway is the Prime Minister’s passion for India’s development.
• He said, Mr Modi has a specific interest in aviation, in aerospace. Mr. Calhun said, It is a big vision.
• He said, it’s great when technologies and opportunities align with the vision a leader has for the country.

About Google:

• Founders: Larry Page, Sergey Brin
• Headquarters: California, United States
• Founded: 4 September 1998
• CEO: Sundar Pichai

CURRENT AFFAIRS: MOUS AND AGREEMENT

NHPC signs MoU with GRIDCO Odisha, for developing 2 GW Pumped Storage Projects and 1 GW Solar Energy Projects in Odisha

• NHPC Limited, the largest hydropower development organization in India, has signed a Memorandum of Understanding with GRIDCO Odisha, Government of Odisha, for “Development of Pumped Storage Projects (PSPs) and Renewable Energy in the State of Odisha”.
• The MoU envisages setting up Self-identified Pumped Storage Projects of at least 2,000 MW and Renewable Energy Projects (Ground-Mounted Solar Projects / Floating Solar Projects) of at least 1,000 MW in the state.
• The MoU was signed by Executive Director (Strategy Business Development and Consultancy), NHPC, Rajat Gupta and Managing Director, GRIDCO Limited, Trilochan Panda; in the presence of Additional Chief Secretary, Department of Energy, Govt. of Odisha cum Chairperson, GRIDCO, Nikunja B. Dhal; Director (Projects), NHPC Limited, Biswajit Basu; and other senior officers of both organizations.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

WHO appoints Dr Vanessa Kerry as Director-General Special Envoy for Climate Change and Health

• The World Health Organisation (WHO) has appointed Dr Vanessa Kerry as the first-ever WHO Director-General Special Envoy for Climate Change and Health.
• She will play a pivotal role in amplifying WHO’s climate and health messaging and undertake high-level advocacy.

About Dr Vanessa Kerry :

• Dr Vanessa Kerry was born in Boston, Massachusetts,United States (US).
• She is a renowned global health expert and medical doctor and Chief Executive Officer (CEO) of Seed Global Health, a Massachusetts-based organisation which helps provide medical and nursing training support in resource-limited countries.
• Climate change is emerging as the greatest health challenge of the 21st century, impacting various aspects of human well-being.
• Extreme weather events, non communicable and infectious diseases, as well as health infrastructure and workforce capacity, are all being significantly affected.
• The year 2023 is a crucial year for the intersection of climate change and health.
• On December 3, 2023, the Conference of the Parties 28 (COP28) Presidency announced the first-ever day dedicated to health at the summit.

About WHO :

• Established : 7 April 1948
• Headquarters : Geneva, Switzerland
• Director-General : Tedros Adhanom
• The WHO is a specialized agency of the United Nations responsible for international public health.

Alibaba Appoints Eddie Wu as New CEO; Joseph Tsai to Be New Chairman

• Eddie Wu, chairman of Alibaba’s core Taobao and Tmall online commerce divisions, will take over as chief executive officer (CEO) of the Alibaba Group Holding Limited, or Alibaba.
• Meanwhile Joseph Tsai, executive vice chairman of Alibaba Group Holdings, will take over as chairman.
• Tsai succeeds 8-year veteran chief Daniel Zhang
• Both appointments will take effect on September 10, 2023.

About Eddie Wu :

• Eddie Wu is one of the co-founders of Alibaba, who first served it as a technology director back in 1999.
• His experience is in the company’s core e-commerce business, monetization and technology, making him a well-rounded candidate to oversee the entire group.
• He has also been the chief technology officer of key businesses including Taobao and Alipay, the mobile payments service run by Alibaba affiliate Ant Group.

About Joseph Tsai :

• Joe Tsai was appointed as the Alibaba Group Holdings chief financial officer (CFO) until 2013 and currently serves as executive vice chairman.
• He is also the chairman of Alibaba’s logistics unit Cainiao, as well as a member of the Taobao and Tmall division.

About Alibaba Group Holding Limited :

• Founded : 28 June 1999
• Headquarters : Hangzhou, China
• Alibaba Group Holding Limited, or Alibaba is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Organises Special Event ‘Ocean Ring Of Yoga’ On International Yoga Day

• To commemorate International Day of Yoga (IDY) 23, the Ministry of AYUSH has planned an event ‘Ocean Ring of Yoga’ (symbolising unity and solidarity) in coordination with the Ministry of Defence and other ministries.
• In support of the IDY-23 initiative, Indian Navy ships deployed in the Indian Ocean Region are visiting various ports of friendly foreign countries and spreading the message of ‘Vasudhaiva Kutumbakam’ which is also the theme for IDY 23.
• It is an event symbolising unity and solidarity.

About ‘Ocean Ring of Yoga’ :

• Indian Navy is actively supporting the IDY at a global scale as port calls are planned at Chattogram, Bangladesh; Safaga, Egypt; Jakarta, Indonesia; Mombasa, Kenya; Toamasina, Madagascar; Muscat, Oman; Colombo, Sri Lanka; Phuket, Thailand; and Dubai, UAE by IN Ships Kiltan, Chennai, Shivalik, Sunayna, Trishul, Tarkash, Vagir, Sumitra and Brahmaputra
• Under IDY 23 Ocean Ring of Yoga, about 3500 naval personnel have travelled over 35,000 Km as ambassadors of Yoga in both national and international waters.
• The activities of the Indian Navy ships at the foreign ports are planned to involve the ship’s crew and personnel from the host country and would be focussed on the “Common Yoga Protocol” (CYP).

Note :

• The United Nations General Assembly (UNGA) declared June 21 as the International Day of Yoga (IDY) following a resolution moved by India and co-sponsored by a large number of countries.
• The first IDY was observed on June 21, 2015.

About Ministry of Defence : 

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

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

LIC sold 2% stake in NMDC for Rs 649 crores;brings down holding to 9.62%

• Life Insurance Corporation (LIC) has reduced its stake in iron ore producer NMDC formerly National Mineral Development Corporation to 9.62% by selling a little over 2% stake for about Rs 649 crore.
• LIC sold over 6.06 crore shares or 2.07% stake in NMDC between March 14 and June 20, 2023 at an average price of Rs 107.59 a share via open market sale.
• LIC’s shareholding in NMDC has decreased from 69% to 9.62%.

About NMDC Limited :

• Founded : 1958
• Headquarters : Hyderabad, Telangana
• Chairman & MD : N Sridhar

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

DCGI approved India’s 1st mRNA based Omicron-specific booster vaccine 

• India’s first indigenous mRNA vaccine for the Omicron variant, GEMCOVAC-OM, developed by Pune-based Gennova Biopharmaceuticals Ltd, was approved under emergency use guidelines by the Drug Controller General of India (DCGI).
• The vaccine has been developed by Gennova Biopharmaceuticals in collaboration with the Department of Biotechnology (DBT) under the ‘Mission COVID Suraksha’.
• In 2022, the company received approval for GEMCOVAC-19, the country’s first m-RNA vaccine against COVID-19.
• GEMCOVAC-OM and GEMCOVAC-19 are yet to be commercially available.
• The vaccines were likely to be formally launched within the next two to three weeks.
• After the approval last year of its vaccine against the Wuhan strain, Gennova manufactured 70 million doses.
• Out of these, 12 million were approved by the Central Research Institute, Kasauli.

Key Highlights :

• GEMCOVAC®-OM is an Omicron-specific mRNA-based Booster vaccine developed using the indigenous platform technology by Gennova in collaboration with the Department of Biotechnology (DBT).
• Like the prototype vaccine, GEMCOVAC®-OM is a thermostable vaccine, which does not require ultra-cold chain infrastructure used for other approved mRNA-based vaccines, making it easy for deployment pan India.
• The vaccine is delivered intradermally using a needle-free injection device system instead of traditional syringes, eliminating the fear and anxiety associated with needles.
• GEMCOVAC-OM is stable in the 2-8 degree Celsius range.
• Therefore, it can be stored in ordinary refrigerators.
• The vaccine has also been tested at the National Institute of Virology against the newest (Omicron subvariant), XBB 1.16, and it is found to be effective.
• GEMCOVAC-OM generated more neutralising antibodies.
• Neutralising antibodies prevent the coronavirus from proliferating within the body.

About DBT :

• The DBT, under the Ministry of Science & Technology, promotes and accelerates the development of biotechnology in India, including the growth and application of biotechnology in the areas of agriculture, healthcare, animal sciences, environment, and industry.

About DCGI :

• DCGI is the head of department of the Central Drugs Standard Control Organization of the Government of India responsible for approval of licences of specified categories of drugs such as blood and blood products, IV fluids, vaccines, and sera in India.
• It comes under the Ministry of Health & Family Welfare.
• Drug Controller General of India : Rajeev Raghuvanshi

About Gennova Biopharmaceuticals Ltd :

• Headquarters : Pune, Maharashtra, India
• CEO : Dr. Sanjay Singh
• It is a biotechnology company dedicated to the research and development, production, and commercialization of biotherapeutics (biologics and vaccines) to address life-threatening diseases across various indications.

IIT Kanpur successfully conducts test flight for cloud seeding

• The Indian Institute of Technology (IIT) Kanpur has successfully conducted a test flight for cloud seeding.
• The project was initiated at IIT Kanpur a few years ago and is headed by Manindra Agrawal from the Computer Science and Engineering Department.
• The experiment was conducted with due approval from the DGCA (Directorate General of Civil Aviation).

Key Highlights :

• The test flight went up to an approximate height of 5000 feet.
• The short flight took off and came back to the IIT Kanpur Flight Lab airstrip, after successfully completing the test ride.
• In the experiment undertaken by IIT Kanpur, a Cessna aircraft was flown from the Flight Laboratory of IIT Kanpur with cloud seeding attachments.
• These attachments were procured from a manufacturer in the United States (US) and the modifications in the aircraft were approved both by the manufacturers of Cessna and DGCA.

What is Cloud Seeding?

• Cloud seeding is a type of weather modification that aims to change the amount or type of precipitation that falls from clouds by dispersing substances into the air that serve as cloud condensation or ice nuclei, which alter the microphysical processes within the cloud.
• The most common chemicals used for cloud seeding include silver iodide,^[3] potassium iodide and dry ice (solid carbon dioxide), common salt, Liquid propane.

Skyroot successfully tested Raman-I engine designed to help Vikram-I rocket

• Skyroot Aerospace Private Limited successfully conducted the flight qualification test of the Raman-I engine, intended for roll attitude control in the Vikram-I rocket.
• The Raman-I engine underwent a test fire at the Liquid Propulsion Systems Centre (LPSC) of the Indian Space Research Organisation (ISRO) in Bangalore, Karnataka.
• Skyroot Aerospace, a start-up based in Telangana, made history by becoming the first Indian private company to launch a rocket with Vikram-S.
• The indigenous Vikram-S was launched from the Satish Dhawan Space Center in Sriharikota, marking India’s entry into commercial space exploration.

Key Highlights :

• The Raman-I engine will be employed for roll attitude control, which helps in managing the rocket’s rotation and
• Maintaining a stable roll attitude is vital to guarantee the rocket’s stability during ascent. Uncontrolled rotation can result in instability, making it challenging to precisely control the rocket’s trajectory.
• Skyroot has been developing 3 variants of the Vikram rocket.
• Vikram-I can carry 480 kg of payload to low earth orbit, Vikram-II is designed to lift off with 595 kg of cargo, and Vikram-III can launch with 815 kg to 500 km low inclination orbit.

About Skyroot Aerospace Private Limited :

• Founded : 12 June 2018
• Headquarters : Hyderabad, Telangana, India
• Founders : Pawan Kumar Chandana, Naga Bharath Daka
• CEO : Pawan Kumar Chandana
• Skyroot Aerospace Private Limited is an Indian private aerospace manufacturer and commercial launch service provider.

CURRENT AFFAIRS: SPORTS NEWS

India’s achievements in the ACBS Asian U-21 Men’s Snooker Championship 2023

• In the tournament, men’s team, comprising Kamal Chawla, Brijesh Damani, and Sparsh Pherwani, secured a gold medal.
• In individual segment, Rayaan Razmi claimed a bronze medal.
• Youth Affairs and Sports Minister Anurag Singh Thakur has commended Team India on their outstanding achievements at the ACBS Asian U-21 Men’s Snooker Championship 2023.
• In the tournament, men’s team, comprising Kamal Chawla, Brijesh Damani, and Sparsh Pherwani, secured a gold medal.
• In individual segment, Rayaan Razmi claimed a bronze medal.
• In a tweet, Mr Thakur lauded the young cueists for shaping the country’s future of the sport.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day against Drug Abuse & Illicit Trafficking- June 26

• The International Day against Drug Abuse and Illicit Trafficking, or World Drug Day, is marked on 26 June every year to strengthen action and cooperation in achieving a world free of drug abuse.
• This year Theme: “People first: stop stigma and discrimination, strengthen prevention”
• The day is a way to honour Lin Zexu, who was the main force behind the destruction of the opium trade in Guangdong, China.
• The day dedicated specifically to preventing drug abuse and trafficking was established after a resolution was passed at the United Nations General Assembly, which was adopted on December 7, 1987.
• The United Nations General Assembly decided on December 7, 1987, to observe June 26 as International Day against Drug Abuse and Illicit Trafficking.
• This was done to support their efforts to make society drug-free.

Daily CA One- Liner: June 25 & 26

• The Life Insurance Corporation of India (LIC) has launched Dhan Vriddhi, a single-premium, non-participating endowment plan.
• The Asian Development Bank (ADB) has approved a $295 million loan to widen and upgrade around 265 kilometres of state highways, improving transport connectivity and safety in the state of Bihar in India.
• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.5 crore on Jammu & Kashmir Bank (J&K Bank), Rs 1.45 crore on Bank of Maharashtra (BoM), and Rs 30 lakhs on Axis Bank for rule violations.
• India has achieved the milestone of 101 Million Metric Standard Cubic Meters per Day of gas production
• Union Minister for Chemicals and Fertilisers and Health & Family Welfare Dr Mansukh Mandaviya addressed the 8th Global Pharmaceutical Quality Summit 2023 in Mumbai
• The campaign has been launched by Indian Olympic Association (IOA) to create awareness and promote sports across India ahead of the Paris Olympics games
• Union Minister of State (Independent Charge) for Science and Technology, MoS PMO, Department of Atomic Energy and Department of Space and MoS Personnel, Public Grievances and Pensions, Dr Jitendra Singh launched the GEMCOVAC® -OM, an Omicron-specific mRNA-based Booster vaccine
• REC Limited, a Maharatna Central Public Sector Enterprise under the Union Ministry of Power, has decided to extend financial assistance of Rs. 3,045 crores to Bangalore Metro Rail Corporation Limited (BMRCL), for the establishment and development of Metro Lines under the Phase-II project of Bangalore Metro
• Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy, has set up a state-of-the-art Business Centre at NBCC Office Complex, East Kidwai Nagar, New Delhi
• Google is investing 10 billion dollars in India’s digitisation fund.
• NHPC Limited, the largest hydropower development organization in India, has signed a Memorandum of Understanding with GRIDCO Odisha, Government of Odisha, for “Development of Pumped Storage Projects (PSPs) and Renewable Energy in the State of Odisha
• In the tournament, men’s team, comprising Kamal Chawla, Brijesh Damani, and Sparsh Pherwani, secured a gold medal.
• North India’s first skin bank has been inaugurated at Safdarjung Hospital in
• China and Pakistan signed an agreement of $4.8 billion to set up a 1,200-megawatt nuclear power plant in Punjab province.
• The Medical, Health & Family Welfare Department of the Rajasthan Government has launched the Pregnancy, Child Tracking & Health Services Management System (PCTS) app which enables online tracking, reporting and monitoring of the health of pregnant women, obstetricians and infants.
• The World Health Organisation (WHO) has appointed Dr Vanessa Kerry as the first-ever WHO Director-General Special Envoy for Climate Change and Health.
• Eddie Wu, chairman of Alibaba’s core Taobao and Tmall online commerce divisions, will take over as chief executive officer (CEO) of the Alibaba Group Holding Limited, or Alibaba, Meanwhile Joseph Tsai, executive vice chairman of Alibaba Group Holdings, will take over as chairman.
• To commemorate International Day of Yoga (IDY) 23, the Ministry of AYUSH has planned an event ‘Ocean Ring of Yoga’ (symbolising unity and solidarity) in coordination with the Ministry of Defence and other ministries.
• Life Insurance Corporation (LIC) has reduced its stake in iron ore producer NMDC formerly National Mineral Development Corporation to 9.62% by selling a little over 2% stake for about Rs 649 crore.
• India’s first indigenous mRNA vaccine for the Omicron variant, GEMCOVAC-OM, developed by Pune-based Gennova Biopharmaceuticals Ltd, was approved under emergency use guidelines by the Drug Controller General of India (DCGI).
• The Indian Institute of Technology (IIT) Kanpur has successfully conducted a test flight for cloud seeding.
• Skyroot Aerospace Private Limited successfully conducted the flight qualification test of the Raman-I engine, intended for roll attitude control in the Vikram-I rocket.
• The International Day against Drug Abuse and Illicit Trafficking, or World Drug Day, is marked on 26 June every year to strengthen action and cooperation in achieving a world free of drug abuse.