NATIONAL UPDATES:
1.
IOC unveils indoor solar cook top Surya Nutan: Indian Oil Corporation (IOC) has
unveiled its patented indigenous solar cook top, “Surya Nutan”, developed by
the oil refiner’s Faridabad R&D centre. Surya Nutan will aid in reducing
India’s CO2 emissions drastically and keep our citizens insulated from the vagaries of the high international fossil fuel prices.
The product was demonstrated in the presence of the Minister of Petroleum &
Natural Gas (MoPNG) HS Puri; Rural Development and Panchayati Raj Minister
Giriraj Singh; Minister of State (MoS) for Commerce & Industry Som Prakash;
MoS for Housing & Urban Affairs Kaushal Kishore, and Minister of Finance
and Parliamentary Affairs of Uttar Pradesh Suresh Khanna.
About the Surya Nutan:
a)
The
solar cook top is a stationary, rechargeable and kitchen-connected indoor solar
cooking system. It offers an online cooking mode while charging. It works in
hybrid mode, which means it can run on both solar and auxiliary energy sources
simultaneously. The insulation design of the solar cook top minimises radiative
and conductive heat losses.
b)
The
initial cost of the product was Rs 12,000 for the base model and Rs 23,000 for
the top model. However, the cost is expected to reduce substantially with
economies of scale. At present, pilot projects are being held in around 60
places such as Leh (Ladakh) to ascertain various operational and commercial
aspects related with its application.
Note: Indian Oil Corporation Chairperson:
Shrikant Madhav Vaidya; Indian Oil Corporation Headquarters: New Delhi; Indian
Oil Corporation Founded: 30 June 1959.
2.
Uttarakhand: Project to boost rain-fed agriculture approved by World Bank: In order to
advance rain-fed agriculture in the steep areas of Uttarakhand, the World Bank
has approved a project costing Rs. 1,000 crore. The watershed department will
carry out the Uttarakhand Climate Responsive Rain-fed Farming Project. The
initiative, which aims to lower greenhouse gas emissions, was offered to the
World Bank for funding by the State government. The project will be financed by
the World Bank. Additionally, it will encourage environmentally friendly
agricultural practices so that young people and farmers have an economically
feasible choice.
3. P
Udayakumar begins office as NSIC’s Chairman and Managing Director: P Udayakumar,
Director (Plng and Mktg), NSIC, took additional responsibility as CMD NSIC with
effect from 20 June 2022. He has a mechanical engineering degree from College
of Engineering in Guindy, a postgraduate degree from IIM Bangalore, and 12
years of service on the Board.
NSIC: The NSIC has been
trying to support, encourage, and promote the growth of micro, small, and
medium-sized businesses across the nation. NSIC functions through a network of
offices and technical centres spread throughout the nation. Additionally, NSIC
has established a Training and Incubation Center run by qualified personnel.
NSIC offers a variety of carefully designed programmes to help Micro, Small,
and Medium Enterprises improve their competitiveness.
4.
GSAT-24: Indian Communication Satellite successfully launched by ISRO: NewSpace India
Limited (NSIL) launched GSAT-24, following the space reforms leasing the entire
satellite’s capacity to Direct-to-Home (DTH) service provider Tata Play. This
was the company’s first “demand-driven” communication satellite mission. The
satellite, developed by the Indian Space Research Organization for NSIL, was
successfully launched into geostationary orbit from Kourou in French Guiana by
the Ariane 5 rocket (South America). Key Points:
a)
GSAT-24
is a 4180 kg 24-Ku band communication satellite that provides pan-India
coverage for DTH application requirements.
b)
The
commercial arm of ISRO, NSIL was established in March 2019 and is a Central
Public Sector Enterprise (CPSE) under the Department of Space (DOS).
c)
NSIL
was required to carry out operational satellite missions on a “demand driven”
model as part of the “space reforms” announced by the government in June 2020.
d)
Under
this model, NSIL is responsible for building, launching, owning, and operating
satellites as well as providing services to its devoted customer.
e)
The
15-year mission life of GSAT-24 is configured on ISRO’s tried-and-true I-3k
Bus.
f)
To
suit the needs of its devoted customer Tata Play, the DTH division of the Tata
Group, the whole satellite capacity on board GSAT-24 will be leased.
g)
Two
satellites, MEASAT-3d for the Malaysian operator MEASAT and GSAT-24, were
successfully launched into geostationary orbit by the Ariane 5 after being
carried aboard an Ariane-V VA257 flight from the Guiana Space Centre, Europe’s
spaceport in Kourou.
INTERNATIONAL UPDATES:
1.
Coursera Global Skill Report 2022: India ranked 68th: The Global Skills
Report (GSR) 2022 by Coursera states that India’s proficiency in data science
has reduced from 38% in 2021 to 26% in 2022, leading to a 12-rank drop. In
terms of overall skills proficiency, India has slipped 4 places to be ranked
68th globally and 19th in Asia. However, the report reveals that India has
improved its technology proficiency levels from 38 percent to 46 percent,
improving its position by six spots.
State-Wise: West Bengal leads the Indian
states in terms of skills proficiency with the state showing the highest levels
of digital skills proficiency in the country. Andhra Pradesh is among the top
three performing states with high proficiency in business and technology
skills.
World: For the second year in a row,
Switzerland had the highest-skilled learners followed by Denmark, Indonesia,
and Belgium.
2.
Mongolia’s Khuvsgul Lake added to UNESCO World Network of Biosphere Reserves: Khuvsul Lake
National Park of Mangolia has been added to the World Network of Biosphere
Reserve of UNESCO. The decision was made during the 34th session of the
International Co-ordinating Council of the Man and the Biosphere Programme
taking place in Paris, France.
About Khuvsgul Lake: The Khuvsgul Lake
is located in northern Mongolian province of Khuvsgul, near to Russian border.
It holds 70 per cent of freshwater of Mongolia or accounts for 0.4 per cent of
world’s total. The lake is 1,645 meters above sea level, 136 km long and 262
meters deep. It is the largest fresh water lake of Mongolia, by volume. In
terms of area, it is the second largest lake in Mongolia. The lake is located
at about 200 km west of Lake Baikal. It is nicknamed as “Younger sister” of two
“sister lakes”. It freezes over completely in winter.
Note: UNESCO Founded: 16 November 1945;
UNESCO Headquarters: Paris, France; UNESCO Members: 193 countries; UNESCO Head:
Audrey Azoulay.
3.
Arianespace will launch an Indian Communication Satellite: Two communication
satellites from Malaysia and India will be launched into geostationary orbit by
the European space agency Arianespace. The Ariane-5 rocket will launch the two
satellites, which together weigh more than 10,000 kilograms, from the spaceport
in Kourou, French Guiana.
About the Communication Satellite:
a)
The
commercial arm of ISRO, New Space India Limited (NSIL), created the Indian
satellite GSAT-24 for Tata Sky, a television service provider. The GSAT-24 is a
24-Ku band communication satellite with Pan-India coverage that weighs over
4,000 kilograms and can accommodate DTH application requirements.
b)
The
satellite is set up to have a 15-year mission life.
c)
Stéphane
Isral, CEO of Arianespace, expressed his enthusiasm for working with ISRO once
more in an official statement following the foundation of NSIL in 2019.
4.
International Day of the Seafarer: 25th June: The “Day of the Seafarer” is
celebrated annually on June 25 to honour the vital contribution that seafarers
make to global trade and the economy, frequently at considerable personal
sacrifice to themselves and their families. Governments, shipping associations,
businesses, shipowners, and all other interested parties are asked to support
and commemorate the Day in a meaningful and suitable way. With the theme “Your
voyage – then and now, share your adventure,” the Day of the Seafarers campaign
for 2022 will examine seafarer voyages, including what they entail, how they
have changed over time, and what has remained central to seafarers’ reality.
The International Convention on Standards
of Training, Certification, and Watchkeeping for Seafarers (STCW), 1978, held
in Manila, Philippines, in June 2010, adopted a resolution that established the
Day of the Seafarer and made significant revisions to the STCW Convention and
Code. The resolution established the Day of the Seafarer, which was first
observed in 2011.
OTHER UPDATES:
SPORTS
1.
Lisa Sthalekar becomes first female president of FICA: Former Australia
cricketer, Lisa Sthalekar has become the first female president of the
Federation of International Cricketers’ Association (FICA), the sport’s
international players association. Her appointment was made at a meeting of the
organisation’s executive committee in Switzerland, the first in-person meeting
since the start of the Covid pandemic. Sthalekar joins a shortlist of former
cricketers including Barry Richards, Jimmy Adams and Vikram Solanki to have
held the post of FICA president.
2.
Ranjit Bajaj named as chairman of the Advisory Committee overseeing AIFF: Entrepreneur Ranjit
Bajaj has been named chairman of advisory committee to assist the Supreme
Court-appointed Committee of Administrators (CoA) which is running the
day-to-day affairs of All India Football Federation (AIFF). Bajaj, who owned
former I-League club Minerva Punjab before it was sold to RoundGlass in 2020,
will be the chairman of the advisory committee and integrity matters. The
12-member advisory committee was appointed by the CoA to oversee the day-to-day
matters of various departments of the AIFF. The advisory committee will send
regular reports to all the members of the CoA for their information and
approvals, if required.
Note: All India Football Federation
Headquarters location: New Delhi; All India Football Federation Founded: 23
June 1937; All India Football Federation FIFA affiliation: 1948.
BANKING AND FINANCE
1.
RBI delays implementation of provisions for issuing credit and debit cards: The Reserve Bank
of India (RBI) extended the deadline for implementing a number of the master
directives it issued on the issuance of debit cards and credit cards. by three
months, from July 1, 2022 to October 1, 2022. The following Master Direction
provisions will now go into effect on October 1, 2022 the central bank announced
in a circular. This decision was made after taking into account various
comments from industry stakeholders. Key Points:
a)
The
RBI stated in the master directives released in April that card issuers must
get one-time password (OTP)-based authorization from the cardholder before
activating a credit card if the customer has not done so for more than 30 days
from the date of issuance.
b)
Card-issuers
must close the credit card account without charging the consumer within seven
working days after asking for approval, if the customer does not give their
consent.
c)
The
timeframe for putting this provision into effect has now been extended by the
central bank.
d)
The
unpaid fees, assessments, and taxes shall not be capitalised for the purpose of
charging or compounding interest.
e)
The
central has also moved up the implementation date for this clause till October
1, 2022.
BUSINESS AND ECONOMY
1. Dr
D J Pandian appointed to lead NDB’s India Regional Office in Gift City:
Shanghai-headquartered New Development Bank (NDB) of the BRICS countries has
appointed former bureaucrat Dr D J Pandian as the Director-General of its India
Regional Office in Gujarat International Finance Tec-City (GIFT City). Pandian
earlier served as the Vice President and Chief Investment Officer of the
Beijing-based Asia Infrastructure Investment Bank (AIIB) in which India is the
2nd largest shareholder after China. The announcement of Pandian’s appointment
comes as China, which is the chair of this year’s BRICS, is set to host the
summit of the five-member bloc via video link on June 23-24 in which Prime
Minister Narendra Modi is scheduled to take part.
Note: New Development Bank Headquarters
location: Shanghai, China; New Development Bank President: Marcos Prado Troyjo;
New Development Bank Founder: BRICS; New Development Bank Founded: 15 July
2014.
2.
Freo partners with Equitas Small Finance Bank to launch digital savings account: Bengaluru-based
neobanking platform Freo has launched its digital savings account ‘Freo Save’
in partnership with Equitas Small Finance Bank. With this launch, it has become
the first consumer neobank in the country to provide full-stack neo-banking
products, including smart savings account, credit and payments products, cards
and wealth-growth products. The neobank is planning to open one million new
accounts in the next ten months.
Features of Freo Save: Freo Save will
offer quick access to credit & shopping and through its partnership with
Equitas Small Finance Bank. It will provide up to 7 per cent interest on
customer savings for balances above ₹5 lakh up to ₹2 crore. Freo Save will be
available in multiple Indian languages, including English, Hindi, and Tamil.
Freo Save brings together our expertise in banking services and Freo’s strength
in lending to offer consumers a world-class consumer-first digital banking
experience.
DEFENCE
1.
“BRO Cafes” to be established at 75 border areas in 12 states and UTs: The Border Roads
Organization will build 75 outlets along various route segments in 12 states
and union territories under the name “BRO Cafes,” as permitted by the Ministry
of Defense. These are designed to offer fundamental comforts and amenities to
visitors, increase economic activity in border regions, and create jobs for the
local population.
About the Bro Cafe Proposal: It is proposed to offer amenities including two- and four-wheeler parking, a food court, a restaurant, separate restrooms for men, women, and people with disabilities, first-aid stations, MI rooms, etc.
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