NATIONAL UPDATES:
1. FM chairs the 20th Meeting of the FSDC in New Delhi: The 20th meeting on Financial Stability and Development Council (FSDC) was held under the chairmanship of Finance Minister Nirmala Sitharaman in New Delhi. The meeting reviewed the current global and domestic economic situation and financial stability issues including, inter-alia. Sitharaman will present the first budget of the new government on July 5.
Note: The Financial Stability and Development Council (FSDC) was constituted in December 2010. The FSDC was set up to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development.
Composition: The Council is chaired by the Union Finance Minister and its members are Governor, Reserve Bank of India; Finance Secretary and/or Secretary, Department of Economic Affairs; Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance; Chairman, Securities and Exchange Board of India; Chairman, Insurance Regulatory and Development Authority and Chairman, Pension Fund Regulatory and Development Authority.
It also includes the chairman of the Insolvency and Bankruptcy Board (IBBI).
2. Himachal Pradesh makes GPS device must for trekkers: The Himachal Pradesh government makes mandatory for trekkers to carry a GPS device so that they can be provided all possible help in case of any emergency. According to the Himachal Pradesh government, as Himachal Pradesh being a disaster prone state, therefore Kullu and Dalhousie have been identified for installation of early warning system. Rampur and Mandi towns have been zeroed in for setting up the reliefand rescue base of National Disaster Response Force.
Note: Chief Minister of Himachal Pradesh- Jai Ram Thakur. Governor- Acharya Dev Vrat. Capital- Shimla.
3. NCERT organises National Yoga Olympiad of school children: National Council of Educational Research and Training organised 4th edition of National Yoga Olympiad of school children in New Delhi. The Olympiad was inaugurated by the Director and UNESCO Representative for India, Mr. Eric Falt. This year 567 students from 33 States/UTs participated in the Olympiad. The purpose of olympiad was to create positive attitude among all human beings and promote peaceful living together in the society.
Note: International Day of Yoga: 21st June
INTERNATIONAL UPDATES:
1. India extends $15 mn assistance to Niger for holding AU summit: India has extended USD 15 million assistance to Niger for organising the African Union (AU) summit scheduled to be held in Niamey early next month. The summit is scheduled to be held in Niamey from July 7-8. It will also be the first time that Niger is scheduled to host an AU summit. India is also establishing the Mahatma Gandhi International Convention Centre (MGICC) in Niamey under grant assistance.
Note: African Union (AU), international organization established in 2002 by the nations of the former Organization of African Unity (OAU). There are 54-member nations; the only African country that is not a member is Morocco. The AU's headquarters are at Addis Ababa, Ethiopia; Niger Capital- Niamey; Currency- CFA franc, West African CFA franc.
2. Bangladesh, South Korea state channels now on DD Free Dish: India has signed agreements with Bangladesh and South Korea for DD India to be telecasted on the state platforms of the respective countries. As per the agreement, BTV World, a channel owned by Bangladesh TV and KBS World, an English language of South Korea, will now be available on the state-owned DD Free Dish.
Note: South Korea Capital- Seoul, Currency- South Korean won; Bangladesh Capital: Dhaka, Currency: Taka, PM: Sheikh Hasina.
3. WHO offers a new tool for action against antimicrobial resistance: WHO offers a new tool "AWaRe" to contain rising antimicrobial resistance and make antibiotic use safer and more effective.
AWaRe tool - The tool aimed at guiding policy-makers and health workers to use antibiotics safely and more effectively. It’s another objective is to limit drugs that are at risk of resistance. The tool, known as ‘AWaRe’, classifies antibiotics into three groups:
"Access" specifies which antibiotics to use for the most common and serious infections.
"Watch" specifies which ones should be available at all times in the healthcare system.
"Reserve" are those that must be used sparingly or preserved and used only as a last resort.
Note: The World Health Organization is a specialized agency of the United Nations (UN) that is concerned with international public health. It was established on 7 April 1948, headquartered in Geneva, Switzerland. Tedros Adhanom is working as a Director General of WHO since 2017.
4. Mexico ratifies US-Mexico-Canada agreement: Mexico has ratified the US-Mexico-Canada agreement. This makes it the first country to give the new North American trade deal final approval despite recent tensions with the US. The Mexican government called the deal's passage a clear message in favour of an open economy and deepening economic integration in the region. Mexico President Andres Manuel Lopez Obrador claimed the deal would bring in more foreign investment and jobs in Mexico, and access to the US market. The deal aims to replace the North American Free Trade Agreement (NAFTA), which helped turn Mexico into an exporting powerhouse over the past 25 years.
Note: The North American Free Trade Agreement was implemented in 1994 to encourage trade between the United States, Mexico, and Canada. NAFTA’s purpose was to encourage economic activity among North America's three major economic powers. President Trump made a campaign promise to repeal NAFTA, and in August 2018, he announced a new trade deal with Mexico to replace it. In Sept. 2018, Canada joined the deal: the United States-Mexico-Canada Agreement (USMCA), which was signed on Nov. 30, 2018.
5. World Refugee Day: 20 June: World Refugee Day is celebrated around the world on 20th June to raise awareness about the precarious condition of refugees around the world who have been forced to leave their homes due to war, persecution and conflict. The theme for World Refugee Day 2019 is “Step with Refugees — Take A Step on World Refugee Day.” The theme focuses on that there is a need to take big and small steps in solidarity with refugees from around the world. According to the United Nation (UN) every minute, around 25 people have to leave everything in the search for a better and safer life.
Note: UN Headquarter: New York, USA; Founded: 24 October 1945. Mr Antonio Guterres of Portugal is the Secretary-General of the United Nations.
OTHER UPDATES:
SPORTS
1. Folksam Grand Prix: PU Chitra wins 1500m gold: Asian champion PU Chitra won the women's 1500m gold at the Folksam Grand Prix in Sollentuna, Sweden. She produced the best time of her season so far by clocking 4 minutes 12.65 seconds (4:12.65s). She is a gold medal winner in Asian Championships held in Doha, Qatar in April 2019. Asian Games gold medallist India’s Jinson Johnson won the silver in the men's 1500m clocking 3:39.69.
2. Archery Association of India de-listed by the world body: Archery's world body has de-listed the Archery Association of India (AAI) as a member and given it a month's time to either get its house in order or face suspension. World Archery (WA) said it will wait till 31st of next month before deciding on AAI's suspension. The WA will wait for the Supreme Court's verdict on the controversial elections of the AAI. The decision to de-list AAI will not prevent Indian archers from taking part in international events under the national flag in competitions for which entries have already been made.
BANKING AND FINANCE
1. Canara Bank updates rules for cash deposits of up to Rs 50,000: From July 1, Canara Bank customers can deposit cash of up to Rs 50,000 for free only thrice a month. From the fourth transaction or for cash deposits of over Rs 50,000, there will be a service charge of Rs 1 per thousand, with a minimum of Rs 50 and a maximum of Rs 5,000 plus GST.
Note: Canara Bank Chairman: T.N. Manoharan; Headquarters: Bengaluru; MD & CEO of Canara Bank: R.A. Sankara Narayanan
2. IndusInd Bank-Bharat Financial merger to be effective from July 4: IndusInd Bank and Bharat Financial Inclusion Ltd (BFIL) said their merger will be effective from July 4. The National Company Law Tribunal on June 10, 2019, approved the Scheme of Arrangement among BFIL, IndusInd Bank and Induslnd Financial Inclusion and their respective shareholders and creditors. IndusInd Bank in October last year decided to acquire the country's leading micro-finance player BFIL, which was previously known as SKS Microfinance.
Note: IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh. Headquarters- Mumbai, Maharashtra. CEO: Romesh Sobti
BUSINESS AND ECONOMY
1. At 9.8 GB per month, India has the highest data usage per smartphone: According to a new study by Swedish telecom equipment maker Ericsson, India has the highest average data usage per smartphone, reaching 9.8 GB per month at the end of 2018. The report also forecasts that this figure is likely to double to 18 GB per month per smartphone by 2024. The ‘Ericsson Mobility Report’ added that total smartphone subscriptions in the region are likely to reach 1.1 billion by 2024, growing at 11% CAGR. In 2018, mobile data traffic per smartphone per month stood at 7 GB for North America, 3.1 GB for Latin America, 6.7 GB for Western Europe, 4.5 GB for Central and Eastern Europe.
2. ICANN partners NASSCOM to develop tech, standards for IoT devices: Global internet body Internet Corporation for Assigned Names and Numbers (ICANN) and Indian IT industry body National Association of Software and Services Companies (Nasscom) collaborated to develop identifier technology to manage devices and infrastructure using internet. Under the collaboration, both the bodies will first focus on updating Internet of Things (IoT) devices using domain name system (DNS). The project team under the collaboration includes ICANN technical experts, NASSCOM's Centre of Excellence IOT team, IIT Hyderabad team and participants from India's Education and Research Network(ERNET).
Note: President of ICANN: Göran Marby; Chairman of NASSCOM: Rishad Premji
AWARDS AND HONOURS
1. Indian engineer wins Innovation Award in UK: Nitesh Kumar Jangir, an Indian engineer has won the 2019 Commonwealth Secretary General's Innovation for Sustainable Development Award in the “People” category in London. Nitesh Kumar Jangir created Saans, a breathing support device to tackle avoidable deaths of premature babies from respiratory distress syndrome.
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