NATIONAL UPDATES:
1.
India’s 1st private train service flagged off under ‘Bharat Gaurav Scheme’: The first train to
be operated between Coimbatore and Shirdi by a private operator, under the
‘Bharat Gaurav’ scheme of the Indian Railways, was flagged off. Ministry of
Tourism has informed that the first ever Bharat Gaurav Train has been flagged
off on Coimbatore north to Sainagar Shirdi route. The train will cover several
historical destinations on the route while giving the passengers an insight
into the cultural heritage of the country.
Indian Railways had launched the operation
of theme-based Bharat Gaurav train in the month of November 2021. The objective
of this theme is to showcase India’s rich cultural heritage and magnificent
historical places to the people of India and the world, through Bharat Gaurav
Trains. Other features of the train service are:
a)
There
will be a Doctor on board to attend any emergency
b)
There
are Private securities engaged along with the Railway Police Force to protect
the train from any kind of harm.
c)
There
will be on board electricians and AC Mechanic and Fire and Safety Officers
d)
The
train is maintained by branded housekeeping service providers who will clean
the utility areas on frequent intervals and the caterers are experienced and
rich in holding the traditional vegetarian menus.
e)
The
coaches are fitted with high bass-sounding speakers and an on-rail Radio Jockey
to keep the passengers entertained during the journey. There will be devotional
songs, spiritual stories and live interviews to keep the journey pleasant.
f)
Completely
Toxic-free and Smoke-free
2. PM
Modi inaugurates Jal Bhushan Building and Gallery of Revolutionaries at Raj Bhawan
in Mumbai:
Prime Minister Narendra Modi has inaugurated Jal Bhushan Building at Raj Bhawan
in Mumbai. Maharashtra Chief Minister Udhav Thackeray, Dy CM Ajit Pawar,
Environment Minister Aaditya Thackeray and the State Governor Bhagat Singh
Koshyari were also present on the occasion. The PM also inaugurated an
underground ‘Gallery of Revolutionaries’ museum dedicated to the luminaries of
the freedom struggle, at the Raj Bhavan.
About the gallery: The gallery has
come up in the subterranean network of 13 pre-World War-I British era bunkers,
discovered in the Raj Bhavan campus in August 2016 during the tenure of the
then Governor C. Vidyasagar Rao. The gallery includes information on the
freedom movement heroes, their role in the movement, sculptures, rare photographs,
murals and details on tribal revolutionaries drawn by school-kids.
3. Amara
Raja to open a green hydrogen fuel outlet for NTPC in Leh: In Leh, Ladakh, Amara Raja Power Systems will build the country’s
first green hydrogen fueling station for the National Thermal Power Corporation
(NTPC). According to the Amara Raja company, the pilot project would create a
minimum of 80 kg of 99.97 percent pure hydrogen each day, which will be
compressed, stored, and delivered. The contract has been awarded to NTPC, which
expects to operate five hydrogen fuel cell buses in the region. Key Points:
a) If completed successfully, the project will usher in an age of
emission-free transportation in and around Leh, and India will join a select
club of countries that are leading the way in green mobility.
b) Amara Raja will run and maintain the fueling station for three years at
a cost of Rs 41 crore. Fuel prices, according to business sources, cannot be
discussed at this time.
c) By dividing water into hydrogen and oxygen using an electrolysis process
fueled by renewable energy sources, green hydrogen will be produced. There will
be no carbon imprint from the hydrogen produced this way.
d) The project will be set up in Leh’s severe conditions, which include
temperatures ranging from minus 14 to + 20 degrees Celsius at a height of 3,600
metres above sea level.
e) This will be a prelude to large-scale green hydrogen mobility and
storage initiatives, as well as a vital tool for analysing and deploying
fueling stations around the country, as part of the National Hydrogen Energy
Mission.
4.
‘Agniveers’ to be prioritised by UP Govt. for recruitment: Agniveers
personnel recruited on short-term contracts in the Army, Navy, and Air Force
under the unique Agnipath system would have preference in recruitment to the
state’s police and associated services, according to Uttar Pradesh Chief
Minister Yogi Adityanath. This comes a day after Defence Minister Rajnath Singh
launched the Agnipath scheme for short-term contractual recruitment of
personnel in the tri-services for a maximum of four years.
Prime Minister Narendra Modi’s Agnipath
Yojana is a visionary and welcome decision for the youth’s bright future. In
this context, the ministry of home affairs (MHA) said that Agniveers who
complete four years under this plan will be given precedence for recruitment
into CAPFs (central armed police forces) and Assam Rifles. The first four years
of contractual service are unlikely to be taken into account when ultimate
pensionary benefits are calculated.
Note: Defence Minister of India: Shri
Rajnath Singh; Chief Minister of Uttar Pradesh: Yogi Adityanath
INTERNATIONAL UPDATES:
1. 1st-ever India-EU Security and Defence
Consultations held in Brussels: First-ever
India-European Union (EU) Security and Defence Consultations held in Brussels,
Belgium. The consultations were held in accordance with the decision taken at
India-EU Summit in July 2020. Consultations were co-chaired by Joint secretary
of Ministry of Defence Somnath Ghosh and Joint Secretary (Europe West) of
Ministry of External Affairs (MEA) Sandeep Chakravorty from India and Director
Security and Defence Policy, from European Union.
During
the consultations:
a) Discussions covered the evolving security situation in Europe,
Indo-Pacific and India’s neighbourhood. Both the sides noted number of positive
developments in security and defence cooperation area in recent years.
b) The Maritime Security Dialogue met in February 2022, for the second
time. First-ever joint naval exercises between India and EU were held in June
2021.
c) The two sides also discussed various means of increasing India-EU
cooperation on maritime security, implementation of the European code of
conduct on arms export to India’s neighbourhood, cooperation in co-development
and co-production of defence equipment including India’s participation in
Permanent Structured Cooperation (PESCO).
Note: European
Union Founded: 1 November 1993, Maastricht, Netherlands; European Union
Headquarters: Brussels; President of the European Union Commission: Ursula von
der Leyen; President of the European
Union Parliament: Roberta Metsola; President of the European Council: Charles
Michel.
2.
Arati Prabhakar to be appointed as science adviser to the President of US: US president Joe
Biden is expected to name Arati Prabhakar as the head of the White House Office
of Science and Technology Policy (OSTP). She will succeed Eric Lander who left
the role nine months after his appointment after he admitted to bullying his
staff and creating a hostile work environment during his tenure.
Once the Senate approves the 63-year-old’s
appointment, Arati would be the first woman and the first person of color to
serve as science adviser to the President of the United States. Her role will
require advising Biden on how to compete with China, bring forth rules which
will protect US-funded academic research from theft and aim to reduce
inequality within the research community.
Past work for US president: Arati also served
in top roles during the presidential tenures of Bill Clinton and Barack Obama.
The Clinton administration picked her to lead the National Institute of
Standards and Technology (NIST) and the Obama administration picked her to lead
the Defense Advanced Research Projects Agency (DARPA).
3.
World Day to Combat Desertification and Drought: 17th June: The World Day to
Combat Desertification and Drought is observed on 17 June each year to promote
public awareness of international efforts to combat desertification. The theme
of 2022 Desertification and Drought Day “Rising up from drought together”.
The annual Desertification and
Drought Day has three objectives.
a)
To
promote public awareness about desertification and drought.
b)
Let
people know that desertification and drought can be effectively tackled, that
solutions are possible, and that key tools to this aim lay in strengthened
community participation and cooperation at all levels.
c)
To
strengthen implementation of the United Nations Convention to Combat
Desertification in countries experiencing serious drought and/or
desertification, particularly in Africa.
Desertification and Drought Day
History:
The United Nations General Assembly proclaimed June 17 as the World Day to
Combat Desertification and Drought through its resolution A/RES/49/115 which
was adopted in December 1994.
OTHER UPDATES:
SPORTS
1. IWF
Youth World Championships: Saanapathi Gurunaidu wins gold: At the IWF Youth World Championships in Leon, Mexico, Indian
weightlifter Saanapathi Gurunaidu won gold in the men’s 55 kilogramme category
event. On the first day of the IWF competition, two other additional Indian
weightlifters, Vijay Prajapati and Akansha Kishor Vyavhare also won medals,
they won the silver medals. Key Points:
a) With a total lift of 230 kilogrammes, Saanapathi won gold in the men’s
55 kilogramme event. He won Silver in Snatch with a lift of 104 kg, and Gold in
Clean and Jerk with a lift of 126 kilogrammes.
b) With a total lift of 175 kg, Vijay placed second in the Men’s 49
kilogramme event. In the Snatch category, Vijay lifted 78 kilogrammes, while in
the Clean and Jerk category, he lifted 97 kg.
c) In the Women’s 40 kilogramme division, Akanksha won the gold medal. She
won the silver medal with a total of 127 kg after placing first in the Snatch
section with a lift of 59 kilogrammes and third in the Clean and Jerk section
with a lift of 68 kilogrammes.
2. Neeraj
Chopra Sets New National Record With 89.30 Metre Javelin Throw: India’s ace javelin thrower Neeraj Chopra set a new national record as
he threw 89.30 metres at the Paavo Nurmi Games in Finland. Chopra’s earlier
national record was 88.07m which he had set in Patiala in March last year. He
had won the Tokyo Olympics gold with a throw of 87.58m on August 7, 2021.
Neeraj Chopra is India’s first ever Olympic gold medallist in athletics and
only the second individual gold medallist at Olympics. Chopra’s 89.30m effort
will take him to fifth spot in the world season leaders’ list.
Neeraj Chopra
won the silver medal with his throw at the event. This was Neeraj’s first
competitive outing since winning the historic gold medal at the Tokyo Games.
Finland’s Oliver Helander won the gold medal at the event with a throw of 89.83
metres.
BANKING AND FINANCE
1.
Tamilnad Mercantile Bank gets SEBI’s nod to float IPO: Private sector
lender, Tamilnad Mercantile Bank has received capital markets regulator
Securities and Exchange Board of India’s (SEBI) to launch and raise funds
through an initial public offering (IPO). The public issue comprises a fresh
issue of 1,58,27,495 equity shares and an Offer For Sale (OFS) of up to 12,505
equity shares by shareholders, according to the Draft Red Herring Prospectus
(DRHP). The bank, which filed its preliminary IPO papers with Sebi in September
2021, obtained its observations on May 30 this year, an update with the markets
watchdog showed. In Sebi’s parlance, its observation implies its approval to
float IPO.
Note: Tamilnad Mercantile Bank
Headquarters: Thoothukudi, Tamil Nadu, India; Tamilnad Mercantile Bank CEO: K V
Rama Moorthy (Sept 2017–); Tamilnad Mercantile Bank Founded: 11 May 1921.
2.
Anand Mahindra, Venu Srinivasan, Pankaj Patel, and Ravindra Dholakia appointed
to RBI central board:
The government has appointed industrialists Anand Mahindra, Pankaj R Patel and
Venu Srinivasan, and former IIM (Ahmedabad) professor Ravindra H Dholakia as
non-official directors on the central board of the Reserve Bank. The
nominations have been made for four years by the Appointments Committee of the
Cabinet (ACC).
Four new members of RBI central
board:
a)
Anand
Mahindra is the chairman of the Mahindra Group, the non-executive chairman of
Mahindra & Mahindra and Tech Mahindra. His tenure has seen the Group expand
domestically and internationally into a range of major industrial sectors from
automobiles and agriculture to IT and aerospace.
b)
TVS
Motor Company Chairman Emeritus, Venu Srinivasan is an engineer and an MBA from
Purdue University (USA) and took over as the CEO of Sundaram-Clayton, the
holding company of TVS Motor, in 1979.
c)
In
a stock exchange filing, Zydus Lifesciences said its chairman Pankaj R Patel
has been appointed as a part-time non-official director in the central board of
the RBl.
d)
Ravindra
H Dholakia was the economics area faculty at IIM Ahmedabad from September 1985
to April 2018 when he superannuated. He received the Most Distinguished Faculty
Award for the year 2017-18 at IIM-A. He was a regular visiting faculty at the
European Management Institute (ESCP-EAP), Paris from 2002 to 2005.
BUSINESS AND ECONOMY
1.
Trade deficit of India broadens to $24.29 billion in May 2022: Trade data
released by the Ministry of Commerce and Industry showed that India’s May trade
deficit widened to $24.29 billion from $6.53 billion a year ago. May’s trade
deficit was pushed up by a surge in imports, which rose 62.83% year-on-year to
$63.22 billion, while exports rose 20.55% to $38.94 billion. Despite the
uncertainty and volatility caused by the war in Europe, the engineering goods
exports rose by 12.65 per cent year-on-year to $9.71 billion in May 2022.
India’s merchandise exports in the month of
May rose by 20.55% to $38.94 billion. Imports grew by 62.83% to $63.22 billion.
The trade deficit stood at $6.53 billion on May 2021. Cumulative exports in
April-May 2022-23 rose by about 25% to $78.72 billion. Imports in April-May
2022-23 rose 45.42% to $123.41 billion.
2.
CASHe has launched an industry-first credit line service on WhatsApp: Financial
wellness platform, CASHe has launched an industry-first credit line service
using its AI-powered chat capability on WhatsApp to provide customers with a
fast, seamless and convenient way to access instant credit line by merely
typing their name. The firm offers an instant credit limit without the need for
any documents, app downloads or filling up tedious application forms.
About the CASHe’s WhatsApp chat
service:
a)
CASHe’s
WhatsApp chat service is built on the WhatsApp Business Platform, an enterprise
solution that allows businesses to communicate with new and existing customers
on WhatsApp in a simple, secure, and reliable way.
b)
Underlying
this facility is an AI-powered bot that matches the customer’s inputs and
automatically facilitates a formal application along with a KYC check, and once
verified, sets up a credit line in a few clicks through a guided conversational
flow.
c)
The
borrower’s details will be generated and displayed based on the name entered –
the only key input that the borrower needs to enter at the start of the
conversation.
Note: WhatsApp Founded: 2009; WhatsApp CEO:
Will Cathcart; WhatsApp Headquarters: Menlo Park, California, United States;
WhatsApp Acquisition date: 19 February 2014; WhatsApp Founders: Jan Koum, Brian
Acton; WhatsApp Parent organization: Facebook.
DEFENCE
1.
India successfully test-fired Prithvi-II Ballistic Missile at Chandipur: India has
test-launched Short-Range Ballistic Missile, Prithvi-II from an integrated test
range in Chandipur, Odisha. This missile system is capable of striking targets
with a very high degree of precision. It is an indigenously developed, surface-to-surface
missile. It is powered by liquid propulsion twin engines. Its range is 350 km
and can carry one-ton payload. About Prithvi-II:
a)
Prithvi-II
is capable of carrying 500-1,000 kilogram of warheads and is powered by liquid
propulsion twin engines. The state-of-the-art missile uses advanced inertial
guidance system with manoeuvring trajectory to hit its target.
b)
The
missile was randomly chosen from the production stock and the entire launch was
carried out by the Strategic Force Command (SFC) of the Army and monitored by
the scientists of Defence Research and Development Organisation (DRDO) as part
of a training exercise.
c)
The
missile trajectory was tracked by radars, electro- optical tracking systems and
telemetry stations by the DRDO along the coast of Odisha.
d) The downrange teams onboard the ship deployed near the designated impact point in the Bay of Bengal monitored the terminal events and splashdown.
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