NATIONAL UPDATES:
1. Andhra
Pradesh govt launched YSR Yantra Seva scheme: Andhra Pradesh Chief Minister, YS Jagan Mohan Reddy has launched YSR
Yantra Seva Scheme and flagged off the distribution of tractors and combine
harvesters at Chuttugunta Centre in Guntur, Andhra Pradesh. Chief Minister YS
Jagan Reddy flagged off the state-level mega distribution of tractors and
combine harvesters under YSR Yantra Seva Pathakam in Guntur.
Key
points of the schemes:
a) Around 3,800 tractors and 320 combined harvesters would be made
available at Rythu Bharosa Centres (RBKs) across AP. A subsidy of 175 crores
has been credited into 5,260 farmer group bank accounts.
b) The government of Andhra Pradesh aims to establish a total of 10,750 YSR
Yantra Seva Kendras (CHCs).
c) YSR Yantra Seva Pathakam initiative was taken up to overcome the
shortage of farming machinery to farmers and to provide them with the
much-needed support in renting machinery at affordable prices which will help
reduce the input cost.
d) These farm-related machinery will be available at respective village RBK
level CHCs.
Note: Andhra
Pradesh Governor: Biswabhusan Harichandan; Andhra Pradesh Chief minister: Y. S.
Jaganmohan Reddy.
2. N J
Ojha appointed as MGNREGA ombudsman: N J Ojha has
been appointed as ombudsman for a two-year term under the Mahatma Gandhi
National Rural Employment Guarantee Scheme. Ojha has the power to investigate
allegations by MGNREGA staff, consider them, award awards within 30 days of
receipt of the complaint.
Power of
MGNREGA ombudsman: An
ombudsman has the power to receive complaints from MGNREGA workers, consider
such complaints, pass awards within 30 days from the date of receipt of
complaint and issue direction for conducting spot investigation and also
initiate proceedings ‘suo motu’ if there are any grievance including on issues
related to delayed payment of wages or non-payment of unemployment allowance.
About the
MGNREGA scheme: National Rural Employment Guarantee Act 2005 or
NREGA, later renamed as the Mahatma Gandhi National Rural Employment Guarantee
Act or MGNREGA in 2009, is an Indian labour law and social security measure
that aims to guarantee the ‘right to work’.
3. In
Ahmedabad, Prime Minister Modi inaugurates IN-SPACe: The Indian National Center for Space Promotion and Authorization
(IN-SPACe) was established in Ahmedabad by Prime Minister Narendra Modi. Amit
Shah, the Union Home Minister, was also present at the ceremony. After
inaugurating the Indian National Space Promotion and Authorisation Centre
(IN-SPACe) in Ahmedabad, Prime Minister Narendra Modi reviewed its
headquarters.
Key
Points:
a) PM Modi had previously met his high school teacher in Vadnagar,
Gujarat’s Navsari. In Navsari, PM Modi also opened the AM Naik Healthcare
Complex and the Nirali multi-specialty hospital.
b) They have emphasised a holistic approach to improve the country’s health
system for the past eight years. They have attempted to modernise the treatment
facilities as well as emphasis on themes such as better diet, a healthy
lifestyle, and health prevention.
c) PM Modi emphasised Gujarat’s progress, calling the state’s tremendous
development over the last two decades its “pride.”
d) Prime Minister Modi lay the foundation stone for a number of development
projects in Gujarat totaling Rs 3,050 crores. According to the Prime Minister’s
Office, these projects would assist improve the region’s water supply while
also increasing connection and making life easier.
4.
India’s first COVID-19 vaccine for animals ‘Anocovax’ launched: Agriculture Minister, Narendra Singh Tomar has launched the country’s
first homegrown COVID-19 vaccine “Anocovax” for animals, developed by
Haryana-based ICAR-National Research Centre on Equines (NRC). Anocovax is an
inactivated SARS-CoV-2 Delta (COVID-19) vaccine for animals. The immunity
induced by Anocovax neutralises both Delta and Omicron variants of SARS-CoV-2.
The vaccine contains inactivated SARS-CoV-2 (Delta) antigen with Alhydrogel as
an adjuvant. It is safe for dogs, lions, leopards, mice and rabbits, it added.
The COVID-19 vaccine for animals, Anocovax, is effective and capable of
neutralising both Delta and Omicron variants of SARS-CoV-2.
Antibody
Detection Kits for Animals: The Union Minister Narendra
Singh Tomar also launched ‘CAN-CoV-2 ELISA kit’, an antibody detection kit
against SARS-CoV-2 for animals. It is a sensitive and specific nucleocapsid
protein-based indirect ELISA kit.
INTERNATIONAL UPDATES:
1.
India’s Krishna Srinivasan to head IMF’s Asia-Pacific dept: International Monetary Fund, Managing Director Kristalina Georgieva has
announced the appointment of Indian national Krishna Srinivasan as director of
the Asia and Pacific Department (APD) from June 22. Srinivasan will succeed
Changyong Rhee whose retirement from the Fund was announced on March 23.
Mr. Srinivasan
has more than 27 years of Fund experience, starting in 1994 in the Economist
Program. He is currently a Deputy Director in APD where he oversees the
department’s surveillance work on a number of large and systemically important
countries such as China and Korea, and smaller states in the Pacific such as
Fiji and Vanuatu.
Note: IMF
Formation: 27 December 1945; IMF Headquarters: Washington, D.C., United States;
IMF Member Countries: 190; IMF MD: Kristalina Georgieva.
2. NASA’s
DAVINCI Mission is set to launch in 2029: NASA is set to
launch a mission called “DAVINCI Mission”. DAVINCI stands for “Deep Atmosphere
Venus Investigation of Noble gases, Chemistry and Imaging Mission”. The mission
will fly by Venus and explore its harsh atmosphere in 2029. It will be the
first mission to study Venus by means of both flybys and descent. Spacecraft is
likely to explore layered Venusian atmosphere. It will reach Venusian surface
by June 2031. The mission would capture data about Venus, which scientists are
trying to measure since early 1980s.
About the
DAVINCI spacecraft: DAVINCI spacecraft will serve as a flying
chemistry lab. It can measure different aspects of atmosphere and climate of
Venus. Spacecraft will take the first descent images of its highlands.
Instruments on the spacecraft will also be able to map Venusian surface as well
as detect composition of mountainlike highlands of Venus’. This lab will paint
a picture of layered Venus’s atmosphere as well as the picture of how it
interacts with surface in Alpha Regio Mountains.
3. AR
Rahman appointed ambassador of Indo-UK culture platform: Music Maestro, AR Rahman has been appointed as ambassador of The Season
of Culture, which marks the 75th anniversary of India’s independence. It was
officially launched, by Britain’s Deputy High Commissioner to India Jan Thomson
and Director (India) of the British Council Barbara Wickham. The Season of Culture
aims to strengthen India-UK collaboration in the areas of arts, English and
education.
About
season of Culture: Over 1,400 artists will showcase their
collaborations to millions of audiences across India, Britain, Scotland, Wales,
and Northern Ireland, through a wide array of arts such as theatre, dance,
visual arts, literature, music, architecture, design, fashion, tech-art and new
media art. The ‘Season of Culture’ intends to build on the British Council’s
work in India and strengthen partnerships between India and the UK in the arts,
English, and education. People in both nations will get the opportunity to see
unique and exciting creative work by UK and Indian artists.
Note: British
Council Director: Barbara Wickham; British Council Headquarters: New Delhi,
Delhi.
4. International Albinism Awareness Day: 13th June: International Albinism Awareness Day is observed by the United Nations
on June 13 every year. The day represents the importance and celebration of
human rights of people with albinism. The theme for International Albinism
Awareness Day 2022 is “United in making our voice heard”. According to the
United Nations, the theme was chosen because including voices of persons with
albinism is essential to ensure equality #Inclusion4equality
International
Albinism Awareness Day History: On 18 December
2014, the General Assembly adopted a resolution proclaiming, with effect from
2015, 13 June as International Albinism Awareness Day. In response to the call
from civil society organizations advocating to consider persons with albinism
as a specific group with particular needs that require special attention, the
Council created the mandate of Independent Expert on the enjoyment of human
rights by persons with albinism on March 26, 2015.
Albinism: Albinism is a rare, non-contagious, genetically inherited difference
present at birth. In almost all types of albinism, both parents must carry the
gene for it to be passed on, even if they do not have albinism themselves. The
condition is found in both sexes regardless of ethnicity and in all countries
of the world. Albinism results in a lack of pigmentation (melanin) in the hair,
skin and eyes, causing vulnerability to the sun and bright light. As a result,
almost all people with albinism are visually impaired and are prone to
developing skin cancer. There is no cure for the absence of melanin that is
central to albinism.
OTHER UPDATES:
BANKING AND FINANCE
1. ICICI
Bank Partners with ZestMoney to Expand ‘Cardless EMI’ Facility: ICICI Bank has announced that it has partnered with digital
EMI/pay-later platform ZestMoney, to expand its ‘Cardless EMI’ facility for
purchases on retail and e-commerce platforms. The partnership enhances
affordability of customers of the Bank who can use pre-approved cardless credit
to instantly buy products/ services using ZestMoney and take care of the cost
into Equated Monthly Installments (EMIs).
Customers can
convert transactions up to Rs 10 lakh into EMIs by simply putting their
registered mobile number, PAN and OTP (received on registered mobile number) at
the check-out of the e-commerce website/app or at the PoS machine in retail
outlets, without using cards. The facility, in partnership with ZestMoney, is
live on select e-commerce websites and will soon be available at retail stores.
With this partnership, the Bank’s customers will be able to use ZestMoney’s
wide merchant base. They will also be able to use ZestMoney’s flagship
‘Pay-in-3’ offering, where they can split the bill into three EMIs without
extra cost.
Note: ZestMoney
CEO & Co-Founder: Lizzie Chapman; ZestMoney Established: 2015; ZestMoney
Headquarters: Bengaluru, Karnataka.
2. RBI
cancelled licence of Mudhol Co-op Bank, Bagalkot, Karnataka: The Reserve Bank of India has cancelled the licence of “The Mudhol
Co-operative Bank Limited, Bagalkot (Karnataka)”, thus restricting it from repayment
of deposits and acceptance of fresh funds. The bank does not have adequate
capital and earning prospects, the Reserve Bank of India (RBI) said while
announcing the cancellation of licence. RBI also said that bank with its
present financial position would be unable to pay its present depositors in
full. Reason:
a) RBI said that bank with its present financial position would be unable
to pay its present depositors in full.
b) As per the data submitted by the bank, RBI said more than 99 per cent of
the depositors are entitled to receive full amount of their deposits from the
Deposit Insurance and Credit Guarantee Corporation (DICGC).
c) On liquidation, every depositor would be entitled to receive deposit
insurance claim amount up to Rs 5 lakh from the DICGC.
d) DICGC has already paid Rs 16.69 crore of the total insured deposits
based on the willingness received from the concerned depositors of the bank,
the RBI added.
Note: DICGC
Chairperson: Michael Patra; DICGC Headquarters: Mumbai; DICGC Founded: 15 July
1978.
BUSINESS AND ECONOMY
1.
UNCTAD’s World Investment Report: India ranked 7th: According to the United Nations Conference on Trade and Development
(UNCTAD), India jumped one position to 7th among the top recipients of foreign
direct investment (FDI) in the last calendar year (2021) despite FDI inflows
into the country declining. In its latest World Investment Report, UNCTAD said
FDI inflows into India declined to $45 billion in 2021 from $64 billion in the
preceding year. Outward FDI from India rose 43 percent to $15.5 billion in
2021.
While the United
States ($367 billion) remained the top recipient of FDI, China ($181 billion)
and Hong Kong ($141 billion) also retained second and third position,
respectively. Among the top 10 host economies for FDI, only India saw a decline
in its FDI inflows.
2. EASE
5.0 ‘Common Reforms Agenda’ launched by Nirmala Sitharaman: From FY19 through FY22, Enhanced Access and Service Excellence-EASE
evolved over four year editions, catalysing improvements in a variety of areas in
Public Sector Banks. The EASENext program’s EASE 5.0 ‘Common reforms agenda’
was designed for Public Sector Banks and was introduced by Minister of Finance
and Corporate Affairs Nirmala Sitharaman through video conference in New Delhi.
Key Points:
a) Virtually present were Managing Directors and CEOs, as well as other
senior officials from Public Sector Banks.
b) In his introductory remarks, Sanjay Malhotra, Secretary, Department of
Financial Services, stated that all PSBs are now profitable and have better balance
sheets, and that PSBs must take use of this position of strength to greatly
boost their competitiveness.
c) He said PSB Manthan 2022, which was held in April 2022 with functional
chiefs of Public Sector Banks and opened the ground for the development of a
wider and bolder programme – EASENext – which would include two main
initiatives: EASE 5.0 and a bank-specific strategic three-year roadmap.
d) PSBs will continue to invest in new-age capabilities and deepen ongoing
changes under EASE 5.0 in order to respond to changing consumer needs,
competition, and the technological environment.
e) EASE 5.0 will place a strong emphasis on digital customer experience as
well as integrated and inclusive banking, with a particular emphasis on small
companies and agriculture.
f)
The agenda was unveiled by the Finance Minister.
EASENext, she said, is well-positioned to channel reforms, with a particular
emphasis on customer-centric efforts. The focus on personnel development and a
customer-first strategy were emphasised by FM.
AWARDS AND HONOURS
1. 2nd
Edition of the DSDP Excellence Awards held in New Delhi: In New Delhi, the 2nd edition of the Awards for Excellence in District
Skill Development Planning, DSDP, was held, with the top 30 districts in the
area being recognised for their unique best practises in skill development. The
top three districts in the competition were Rajkot in Gujarat, Cachar in Assam,
and Satara in Maharashtra. District Collectors, District Magistrates, and other
officials from 30 states attended the award ceremony to share their views and
experiences, as well as to exhibit the skill development work that respective
districts had done at the grassroots level.
Dharmendra
Pradhan, the Union Minister for Skill Development and Entrepreneurship, spoke
at the event and urged District Collectors, District Magistrates, and other
officials to conduct demand mapping of the skilled workforce and raise
awareness about skill development initiatives at the local level. District
Collectors, he said, should support the entire continuum of skill development
and endeavour to build the skill development ecosystem at the district level
through innovative planning.
Note: Union Minister for Skill Development and Entrepreneurship: Dharmendra Pradhan.
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