Daily GK Update- 8th June, 2024

 

NATIONAL UPDATES:

1.    Air India- Vistara merger gets NCLT nod: The National Company Law Tribunal (NCLT) has granted its approval for the merger of Vistara with Air India allowing a period of nine months for the dissolution of the former. Tata Sons Private Limited will hold 73.38% stake in the merged entity, and Singapore Airlines 25.1%. The remaining 1.52% will be held by SBICAP Trustee Limited on behalf of Air India Employee Settlement Trust. The anti-competition trusts of India and Singapore have already granted their nod for the integration. Next, the DGCA will have to approve the transfer of Vistara’s crew, operations and aircraft to Air India.

 

2.  18th Mumbai International Film Festival to be held from June 15-21: The 18th edition of the Mumbai International Film Festival (MIFF) will be held in Mumbai from June 15 to 21. The film gala, which showcases non-feature films (documentary, short Fiction and animation) will be at the FD-NFDC Complex in Mumbai. Besides, MIFF screenings will also be held in Delhi at Sirifort Auditorium, Chennai at Tagore Film Centre, Pune at NFAI auditorium and Kolkata at SRFTI Auditorium. The 2024 edition will open with the screening of National Geographic’s documentary “Billy & Molly: An Otter Love Story”.

 

3.    Kamal Kishore Soan takes over the charge of DG of ESIC: Kamal Kishore Soan took over the additional charge of Director General of Employees’ State Insurance Corporation (ESIC) under Ministry of Labour & Employment. Soan is a senior 1998 batch’s IAS officer from Jharkhand Cadre. He is currently serving as an Additional Secretary and Director General, Labour Welfare in the Ministry of Labour & Employment.

 

4.  India Among Top Five Global Destinations for Real Estate Investment: India has become one of the best places to invest in real estate across borders. By March quarter, it was ranked among the top five places in the world to buy land and build on it. According to a study by.

 

 

INTERNATIONAL UPDATES:

1. Pakistan, Panama, Somalia, Greece elected as UNSC non-permanent members: Pakistan, Somalia, Denmark, Greece and Panama were elected as non-permanent members of the UN Security Council for a two-year term beginning 2025. The five members were elected by a secret ballot in the UN General Assembly for a 2-year term starting on January 1, 2025, until December 31, 2026. In the two seats for African and Asia-Pacific States, Somalia got 179 votes and Pakistan

182. In the Latin American and Caribbean States, Panama got 183 votes while in the Western European and other States, Denmark got 184 votes and Greece 182.

2.  India launches Biopharmaceutical Alliance with US, Japan, & South Korea: India, South Korea, Japan, the US, and the European Union has launched an alliance to put joint efforts to build a resilient supply chain in the biopharmaceutical sector. The announcement was made at the inaugural meeting of the Biopharmaceutical Alliance, held in San Diego, California, during the Bio International Convention 2024, the world’s largest biopharmaceutical exhibition. The participants emphasized the importance of a reliable and sustainable supply chain and agreed to coordinate the respective countries’ bio policies, regulations, and research and development support measures.

 

3.    First IPEF Clean Economy Investor Forum meeting held in Singapore: Singapore hosted the first Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum meeting. The meeting was held along with the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting. The Indian delegation was led by Sunil Barthwal, Secretary of the Department of Commerce. The Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum was organised to bring together the Asia Pacific region’s top investors, clean economy companies, and start-ups to mobilise investments into renewable energy projects, sustainable infrastructure and climate technology.

 

4.   8 June – World Oceans Day: The United Nations marks World Oceans Day each year on 8 June through a annual event coordinated by the Division for Ocean Affairs and the Law of the Sea (Office of Legal Affairs). Objective – To create awareness and urge people to take measures in ensuring to restore the health of the oceans of the world. Theme 2024 – Awaken New Depths In 1992, World Oceans Day was proposed at the Earth Summit that took place in Rio De Janeiro. On December 5, 2008, The UN General Assembly designated June 8 to be observed as World Oceans Day every year.

 

5.   8 June – World Brain Tumour Day: World Brain Tumour Day is observed globally on 8 June. Objective – To raises awareness about brain tumours and supports those affected by this serious condition. Theme 2024 – Brain Health and Prevention The history of World Brain Tumour Day goes back 24 years when it was first observed in the year 2000 by a Leipzig-based NPO Deutsche Hirntumorhilfe e.V or German Brain Tumour Association.

 

OTHER UPDATES:

BANKING AND FINANCE

 

1.   SBI General Insurance withdraws Arogya Plus policy with effect from Oct 5: Private general insurer, SBI General Insurance Company has announced the withdrawal of its Arogya Plus policy with effect from October 5, 2024. As per the regulatory requirement, insurance companies must give 90 days’ advance intimation to their customers before withdrawing a policy. Policyholders holding the Arogya Plus policy will be given an option to migrate to a comprehensive health

insurance policy like Super Health Insurance or to any other individual health insurance product available with the general insurer, including the Standard Product.

 

2.    RBI set up a committee to Mitigate Payment Fraud: The Reserve Bank has constituted a committee under the Chairmanship of former MD and CEO of National Payments Corporation of India, A P Hota to examine various aspects of setting up a digital public infrastructure for Digital Payments Intelligence Platform. RBI is mulling to set up a Digital Payments Intelligence Platform to mitigate payment fraud risks. The Committee is expected to give its recommendations within two months. Domestic payment frauds jumped by 70.64 per cent to Rs 2,604 crore during the six-month period ended March 2024 from Rs 1,526 crore in the same period of last year. The volume of frauds also rose to 15.51 lakh during the March 2024 period from 11.5 lakh in the previous six-month period, RBI data shows.

 

AWARDS AND HONOURS

 

1. Vellayan Subbiah named the EY World Entrepreneur of The Year 2024: Vellayan Subbiah was named the EY World Entrepreneur of The Year 2024 at an award ceremony held in Monaco’s Salle des Etoiles. He is an Executive Vice-Chairman of Tube Investments of India (TII) and Chairman of Cholamandalam (Chola) Investment and Finance Co. Ltd. Vellayan was selected from among nearly 5,000 programme participants that included 51 winners across 47 countries and jurisdictions competing for the global title. He is the fourth winner from India in the award’s 24- year history and his win also makes India the only country among EY regions to win the global entrepreneurship award four times.

 

 

 

 

 

 

 

 

 

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