NATIONAL UPDATES:
1. Rajasthan CM launches Mukhya Mantri Kisan Samman Nidhi: Chief Minister of Rajasthan Bhajan Lal Sharma has launched the state government’s Mukhya Mantri Kisan Samman Nidhi at the Krishi Upaj Mandi in Tonk. The chief minister released Rs 650 crore as the first installment to around 65 lakh farmers of the state. The eligible farmers of the state will receive the benefits under the state scheme along with the Rs 6000 per year paid by the central government under the PM-KISAN scheme. The Cooperative Department, government of Rajasthan has been designated as the nodal department for the effective implementation of the Mukhya Mantri Kisan Samman Nidhi scheme.
2. Bhupender Yadav launches portal documenting Indian fauna: According to the Union minister of Environment, Forest and Climate Change, Bhupender Yadav, India has become the first country in the world to prepare a checklist of its entire fauna population. -covering 104,561 species. This makes India the global leader in biodiversity documentation and conservations. The minister gave this information at a ceremony held in Kolkata to observe the 109th anniversary of the Zoological Survey of India in Kolkata, West Bengal on 30 June 2024. He also formally launched the Fauna of India Checklist Portal maintained by the Zoological Survey of India which contains the check list of India’s entire known -104,561 fauna species. The minister also inaugurated the 2nd Animal Taxonomy Summit-2024 organized by Zoological Survey of India at Kolkata.
3. FSIB appoints C S Setty as SBI’s 27th chairman: Financial Services Institution Bureau (FSIB) has selected Challa Sreenivasulu Setty as the next chairman of State Bank of India (SBI). Ashwini Tiwari and Vinay Tonse were two other contenders to the post. Setty will succeed the current chairman, Dinesh Khara, when he turns 63, the upper age limit for the position of SBI Chairman. His term is scheduled to end in August 2024. Currently, Setty is the senior most Managing Director, and has worked for 35 years at the bank. He had been appointed as the MD in 2020, and heads international banking, global markets and technology, at SBI. Challa Sreenivasalu Setty has a Bachelor’s degree in Agricultural Science, and has received his certification from the Indian Institute of Bankers.
4. Ravi Agrawal appointed as Chairman of CBDT: Ravi Agrawal, a 1988-batch IRS officer, has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT), the administrative body for the Income Tax Department. He takes over from Nitin Gupta, a 1986-batch Indian Revenue Service officer, whose extended tenure as the chairman ended on June 30. Agrawal’s appointment extends till June 2025, with a reappointment on a contract basis to ensure continuity in CBDT’s policy framework. Gupta was appointed as the CBDT chief in June, 2022. He was scheduled to retire in September last year but was given a nine-month extension till June. The new CBDT chief is currently working as member (administration) in the board.
5. PM Modi releases three books on Life and Journey of Venkaiah Naidu: Prime Minister Narendra Modi has released three books on the life and journey of former Vice President M. Venkaiah Naidu on his 75th birthday via video conferencing. The prime minister expressed his happiness in releasing the biography “Venkaiah Naidu – Life in Service” authored by S Nagesh Kumar, former Resident Editor of The Hindu, Hyderabad edition. The two other books released by PM Modi include “Celebrating Bharat – The Mission and Message of M Venkaiah Naidu as 13th Vice-President of India”, a Photo chronicle compiled by I.V. Subba Rao, former secretary to the Vice-President of India, and a pictorial biography in Telugu titled “Mahaneta – Life and Journey of M. Venkaiah Naidu” authored by Sanjay Kishore.
6. 1 July – National Postal Worker Day: National Postal Worker Day is observed every year on 1 July. It is commemorated to recognize the contributions of all individuals within the postal service, from clerks and drivers transporting letters to distant locations, to delivery partners. National Postal Worker Day originated in 1997 when a postal carrier in the Seattle area initiated a tribute to colleagues. Since then, July 1 has been set aside each year to celebrate and express gratitude for postal workers in the postal services. In the United States, nearly 490,000 postal workers cover an average of 4–8 miles daily to deliver letters and packages. They persevere regardless of weather or conditions to ensure efficient mail delivery
7. 1 July – GST Day: GST Day is observed on July 1 each year. This comprehensive indirect tax was introduced to simplify the complex web of taxes previously levied by central and state governments. The first GST Day was celebrated on 1st July 2018 to mark the first anniversary of the new indirect tax regime i.e. Goods and Services Tax (GST). GST was implemented on the intervening night of 30 June and 1 July 2017 in a function held in the Central Hall of Parliament. On 29 March 2017, the Goods and Services Tax Act was passed in the Parliament and the Act came into force on 1 July 2017. GST was enacted as the 101st Constitutional Amendment Act, 2016.
INTERNATIONAL UPDATES:
1. Bangladesh Navy signs contract for ‘Made in India’ 800 tons Ocean Going Tug with India’s GRSE: The Bangladesh Navy has signed a deal with the Indian Garden Reach Shipbuilders and Engineers (GRSE) for an 800-tonne ocean-going tug—a major contract to be signed under a $500-million line of credit. The deal was inked in Dhaka in the presence of representatives of GRSE and the Bangladesh Navy’s directorate general of defence purchases. It coincided with a four-day visit to Bangladesh by Indian Navy Chief Admiral Dinesh K Tripathi, aimed at strengthening bilateral defence relations. As per GRSE, the ship worth approximately USD 21 million will be delivered to Bangladesh within 24 months. As per officials, the platform would help tow ships at sea, and will also be capable of rescue operations.
2. Japan introduces new 3D Holographic Banknotes: Japan will start issuing new banknotes on the 3rd of July. It is the world’s first use of cutting-edge holography that makes the portraits of historic figures appear to rotate in 3D. This new technology will allow visually impaired people to feel and discern which banknote they are holding. Tactile marks for the visually impaired will also make them recognizable to touch. By the end of March next year, nearly 7.5 billion new banknotes will have been printed. Existing banknotes will remain valid after the introduction of the new banknotes.
OTHER UPDATES:
SPORTS
1. Former world chess champion V Anand wins Leon Masters for 10th time: Former world chess champion Viswanathan Anand of India has won the Leon Master chess championship for the 10th time . He defeated Jaime Santos Latasa of Spain in the final 3-1 played at Leon in Spain to win the 2024 Leon Masters. Five-time world champion Viswanathan Anand has previously won the Leon Masters in 1996, 1999, 2000, 2001, 2005, 2006, 2007, 2011, 2016, and 2024. The Leon Masters chess tournament is held in the Leon city of Spain. The tournament features four players. Apart from Viswanathan Anand, other players participating in the tournament were world number four ranked Arjun Erigaise of India, Veselin Topalov of Bulgaria and Jaime Santos Latasa of Spain.
BANKING AND FINANCE
1. Union Bank of India introduces “Union Premier” branches for high-value customers in rural and semi-urban markets: Union Bank of India has launched “Union Premier” branches for high-value customers in rural and semi-urban (RUSU) markets. Designed to provide personalized banking services, these branches will offer a wide range of products and services under one roof for high-value customers in RUSU markets. Each Union Premier customer will have access to a personal Relationship Manager to address all their banking needs. These exclusive branches are equipped with the latest digital technologies, ensuring seamless and efficient banking.
2. Truecaller join hands with HDFC ERGO to unveils Fraud Insurance: Truecaller, the world’s leading global communications platform, has partnered with HDFC ERGO, India’s leading general insurance company to launch Fraud Insurance. This initiative aims to provide enhanced protection to consumers against digital communication fraud in India. The Fraud Insurance product will provide coverage up to Rs 10,000 to Android and iOS users across India. The product is available to yearly premium subscribers of Truecaller and all existing customers can avail this protection for free under their existing plan. To ensure a smooth and hassle-free experience for all users, the fraud coverage is seamlessly integrated into the Truecaller app, and is activated once the user opts in for the insurance option.
3. Axis Bank join hands with Piramal Finance under co-lending business: Axis Bank, India’s third-largest private sector bank, has partnered with Piramal Capital and Housing Finance Limited under the co-lending business. Through this partnership, both the lenders will offer loans to the middle and low-income segment borrowers with focus on rural and semi-urban regions. The partnership will leverage the financial expertise of Axis Bank, and loan processing technology of Piramal Finance, to assess the credit profile of borrowers and provide them loans at competitive interest rates through a network of 490 branches of Piramal Finance. This partnership will cater to potential customers who are either new to credit or untapped by larger institutions and build a multi-product loan book.
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