Daily GK Update- 13th June, 2024

 NATIONAL UPDATES:

 

1. CCI approves acquisition of certain equity stake of TVS Certified Private Limited by Mitsubishi Corporation: The Competition Commission of India (CCI) has approved Mitsubishi Corporation’s acquisition of a certain equity stake of TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited. The Proposed Combination relates to Mitsubishi Corporation (Acquirer) acquiring an equity stake in TVS Certified Private Limited (Target 1) and TVS Vehicle Mobility Solution Private Limited (Target 2). The Acquirer is a global integrated business enterprise that develops and operates businesses with offices and subsidiaries in 90 countries and regions and around 1,700 group companies around the world and operate across industries including natural gas, industrial materials, petroleum & chemicals, mineral resources and industrial infrastructure.

 

2. TCS ranks 46, Infosys at 74 in Kantar’s most valuable brand report: IT bellwether Tata Consultancy Services (TCS) is the most valuable Indian brand, ranked 46th globally, followed by Infosys at number 74, according to Kantar BrandZ Most Valuable Global Brands report. TCS’ brand value grew by 7% in a year to $44.79 billion, the report said. The brand value of Infosys, which found itself among the 100 most valuable brands in the world for the third consecutive year, is pegged at $24.68 billion. TCS is ranked 16th in the top 20 business technology and services platforms, and Infosys at 20th.

 

3. Industrial production declines to a three-month low of 5% in April: The Index of Industrial Production (IIP) in India slowed to 5 per cent in April, a three-month low, as against 5.4 per cent in March, according to Ministry of Statistics and Programme Implementation (MoSPI). The IIP growth rate was recorded at 4.6 per cent in April 2023. The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024. As per the data, the growth rates of the three sectors in April 2024, Mining, Manufacturing and Electricity stood ate 6.7 percent, 3.9 percent and 10.2 percent year-on-year respectively.

 

4. Retail inflation eases to 12-month low of 4.75% in May: India’s retail inflation eased to the lowest in a year at 4.75 percent in May 2024, data released by the statistics and programme implementation ministry. The Consumer Price Index (CPI) inflation in April was at 4.83 percent.

The headline rate for last month is the lowest after May 2023 when it came in at 4.31 percent and has now been under the 5 percent-mark for three consecutive months starting March 2024.

Core inflation, which excludes volatile components such as food and fuel, is now at an all-time low of 2.97 percent, reflecting some demand imbalances and gaps in the economy.

 

5. TDP Chief Chandrababu Naidu takes oath as Andhra Pradesh CM: The Telugu Desam Party (TDP) National president N. Chandrababu Naidu was sworn in as Chief Minister of Andhra Pradesh for the second consecutive term. Governor S. Abdul Nazeer administered the oath of office to Mr. Naidu at Kesarapalle close to Gannavaram near Vijayawada. This is the fourth time that Naidu will be serving as Chief Minister in his more than four decades of political career. He served as Chief Minister of combined Andhra Pradesh twice, and this is the second time in Residual Andhra Pradesh. Except for 11 Assembly seats won by the ruling YSR Congress Party (YSRCP), the NDA bagged the remaining seats out of the total 1 75 Assembly constituencies in the State.

 

6. Pema Khandu become Arunachal CM for third straight term: Pema Khandu has become the chief minister of Arunachal Pradesh for the third term in a row. He became CM for the first time in 2016. The BJP returned to power in Arunachal Pradesh for the third time in a row, winning 46 seats in the 60-member assembly.

 

INTERNATIONAL UPDATES:

 

1. Wipro launches Lab45 AI platform to boost efficiency across biz functions: Wipro has launched its Lab45 artificial intelligence (AI) platform, which leverages generative AI (GenAI), machine learning (ML), and deep learning technologies to help companies increase efficiencies, transform business functions, and enable industry-specific solutions. Lab45 is Wipro’s innovation lab, and the Lab45 AI platform is available to all Wipro employees and clients. The Lab45 AI platform runs on a software-as-a-service (SaaS) model and supports various state-of-the-art large language models (LLMs) from leading providers as well as custom deep-learning and other models.

 

2. TCS ranks 46, Infosys at 74 in Kantar’s most valuable brand report: Kantar has released its ‘BrandZ 2024 most valuable global brands’ report. The report included a list of the top 100 brands in the world based on their overall brand valuation. A total of four Indian brands made the list in 2024 with a cumulative brand value of over $130 billion. Tata Consultancy Services (TCS) came in as the 46th most valuable global brand in 2024 at a valuation of $44 billion (approx). HDFC Bank came in at 47th with a brand value of around $43 billion.

 

3. Global Gender Gap Index 2024: India at 129th; topped by Iceland: India slipped two places on the World Economic Forum’s Global Gender Gap index to 129th place as Iceland retained its top position in the rankings. In South Asia, India was ranked fifth after Bangladesh, Nepal, Sri Lanka and Bhutan while Pakistan was ranked last. In the world, Sudan was ranked last on the index of 146 countries while Pakistan fell three places to 145th. India was among the economies with the lowest levels of economic parity, with Bangladesh, Sudan, Iran, Pakistan, and Morocco as all of them registered less than 30 per cent gender parity in estimated earned income.

 

4. 13 June – International Albinism Awareness Day: International Albinism Awareness Day is observed on 13 June every year. Objective – To raise awareness about albinism, a rare, genetically inherited condition that causes a lack of pigmentation in the skin, resulting in uncharacteristically light hair, skin, and eyes. Theme 2024 – 10 years of IAAD: A decade of collective progress. Albinism is a significant public health concern, affecting an estimated one in every 20,000 people worldwide. In some countries, the majority of people with albinism succumb to skin cancer between the ages of 30 and 40. Regular health checks, sunscreen, sunglasses, and sun-protective clothing can easily prevent this cancer. However, in many low-income countries, these facilities may not be available.

 

OTHER UPDATES:

 

 

SPORTS

 

1. World Athletics signs 5-year broadcasting services deal with Tata Communications: World Athletics has signed five-year global broadcasting deal with Tata Communications, making the Indian telecom major a key partner for marquee events starting with the Tokyo World Championships. The agreement aims to enhance innovation and audience engagement. Tata Communications will be the host broadcaster for World Athletics Series events, delivering immersive coverage and custom live content across continents.

 

BANKING AND FINANCE

 

1. HDFC Bank raises FD rates by 20 basis points: The largest private sector lender HDFC Bank has hiked retail fixed deposit rates by upto 20 bps across various buckets with effect from June 10. The move comes even if the Reserve Bank of India decided to keep the policy repo rate unchanged in the June review of monetary policy. The highest interest rate offered by HDFC Bank is for the 18 months to less than 21 months category where the rate is 7.25 per cent. The bank offers 7.10 per cent for 15 to 18 months category. In the one year to 15 months bucket, HDFC Bank will offer 6.60 per cent. Senior citizens will get 50 bps more than the rate offered to others.

 

2. Bank of India takes 6% stake in CCIL IFSC: The Bank of India has acquired a 125 per cent stake in the incorporated Clearing Corporation of India Ltd. (IFSC) listed in the GIFT SEZ in Gujarat. The acquisition of a 6.125 per cent stake in CCIL IFSC for ₹6.125 crore showcases our strategic commitment towards the growth of GIFT City IFSC and its emergence as a global financial services provider. Promoted by Clearing Corporation of India Limited (CCIL), CCIL IFSC is the proposed entity to build and operate a real-time foreign currency settlement system at GIFT City. The entity will act as a clearing house and system operator at GIFT City.

 

3. FIU imposes over Rs 1.66 crore fine on Axis Bank for failing to detect fraud NSG account: The Financial Intelligence Unit (FIU) has fined Axis Bank over Rs 1.66 crore for failure to detect and report suspicious transactions involving a fraudulent account created in the name of the NSG counter-terrorist force. The agency’s order under the PMLA found Axis Bank employees complicit in a large-scale fraud. The federal agency has issued an order on June 3 under Section 13 of the Prevention of Money Laundering Act (PMLA) that empowers its Director to impose a monetary penalty on a reporting entity (like Axis Bank) if the agency finds that its designated director on the board or any of its employees failed to comply with the obligations mandated under the said law.

 

 

Daily GK Update- 12th June, 2024

 NATIONAL UPDATES:

 

1. Rajasthan Govt to Invest ₹100 Cr. for Maharana Pratap Tourist Circuit: Rajasthan state government will develop the Maharana Pratap Tourist Circuit with an investment of Rs 100 crore.

This announcement was made during the inauguration of the Maharana Pratap Jayanti celebration in Udaipur, where the 484th birthday of the legendary Maharana Pratap of Mewar was celebrated on 9 June 2024 (according to the Hindu calendar). Under the project, the Rajasthan Tourism Development Corporation will develop museums and basic amenities for tourists and improve the overall connectivity to these places.

 

2. Mohan Charan Majhi appointed as the CM of Odisha: The Bharatiya Janata Party has picked four-time MLA Mohan Charan Majhi as the new chief minister of Odisha. While, KV Singhdeo and Pravati Parida have been named as his deputies. Mohan Charan Majhi won the Keonjhar assembly seat in the just concluded Odisha assembly elections, defeating Biju Janata Dal’s Mina Majhi by 11,577 votes. The BJP trounced Naveen Patnaik’s Biju Janata Dal by winning 78 out of 147 seats in the Odisha assembly.

 

3. COAI names VI’s Abhijit Kishore as chairperson: Telecom industry association COAI has been named Vodafone Idea’s COO Abhijit Kishore as its chairperson. While, Bharti Airtel’s Chief Regulatory Officer Rahul Vatts as the vice chairperson of the association. The announcement comes after COAI (Cellular Operators Association of India) concluded its annual general body meeting for 2023-24. Kishore brings to the board a wide-ranging experience of over three decades with the Indian telecom industry across functions, organisations and geographies. He takes over the charge from Pramod K Mittal, a president at Reliance Jio Infocomm.

 

INTERNATIONAL UPDATES:

 

1. Nokia CEO Pekka Lundmark makes world’s first ‘immersive’ phone call: Nokia CEO Pekka Lundmark made a phone call using a new technology called “immersive audio and video” that improves the quality of a call with three-dimensional sound, making interactions more lifelike. The call was held with Stefan Lindstrom, Finland’s Ambassador of Digitalization and New Technologies. Current smartphone calls are monophonic which compresses audio elements together and sound flatter and less detailed, but the new technology will bring 3D audio where a caller will hear everything as if they were there with the other person. Nokia made the call using a regular smartphone over a public 5G network.

 

2. Visakhapatnam Port ranks in Top 20 of World Bank CPPI: State-owned Visakhapatnam Port has broken into the top 20 rankings in the Container Port Performance Index 2023 (CPPI 2023), developed by the World Bank and S&P Global Market Intelligence. Visakhapatnam Port was ranked 19 in the Index, higher than Mundra Port (ranked 27) run by Adani Ports and Special Economic Zone Ltd (APSEZ). Visakha Container Terminal Pvt Ltd, a wholly owned unit of J M Baxi Ports & Logistics, runs a 1.35 million twenty-foot equivalent units (TEUs) capacity terminal at Visakhapatnam Port on the country’s eastern coast.

 

3. 12 June – World Day Against Child Labour: World Day Against Child Labour Day is celebrated every year on 12 June. This year’s World Day will focus on celebrating the 25^th anniversary of the adoption of the Worst Forms of Child Labour Convention (1999, No. 182). Theme 2024 – Let’s Act on Our Commitments: End Child Labour The Indian Constitution prohibits children under the age of 14 from working in mines or in any hazardous occupation. The International labour Organisation (ILO) also states that a child under the age of 18 should not be involved in labour or any kind of hazardous work.

 

OTHER UPDATES:

 

DEFENCE

 

1. Lt. Gen. Upendra Dwivedi to be next Army chief: Lieutenant General Upendra Dwivedi has been appointed as the next Chief of the Army Staff. He will take charge from 30th June. The present Chief of the Army Staff, General Manoj C Pande will demit office on 30th June. Lieutenant General Upendra Dwivedi was commissioned into the Infantry (Jammu and Kashmir Rifles) of the Indian Army on 15th December1984 During his long and distinguished service spanning nearly 40 years, he has served in different capacities.

 

2. Japan-India Maritime Exercise commences at Yokosuka: The 8th edition of the Japan-India Maritime Exercise (JIMEX-24) has started at Yokosuka, Japan. The JIMEX-24 exercise is being hosted by the Japan Maritime Self-Defence Force (JMSDF). The Japanese Navy is called the Japan Maritime Self-Defence Force. During the exercise, navies of both the countries will jointly hone their war fighting skills at sea and enhance their interoperability. The Indian Navy’s indigenously built Stealth Frigate INS Shivalik is participating in the JIMEX -24 exercise. The JMSDF is represented by its Guided Missile Destroyer JS Yugiri.

 

SPORTS

 

1. India’s Sumit Nagal clinches Heilbronn Neckarcup Challenger in Germany: In tennis, India’s Sumit Nagal clinched the Heilbronn Neckarcup Challenger in Germany. He defeated Alexander Ritschard of Switzerland, 6-1, 6-7, 6-3 in the men’s singles title clash. This is his 6th ATP Challenger title. With this victory, Sumit virtually qualified for the upcoming Paris Olympics. He also achieved an all-time high World Ranking of 77 in the Live ATP ranking.

 

 

 

BANKING AND FINANCE

 

1. PhonePe partners with PickMe to offer UPI Payments for Indians in Sri Lanka: Fintech firm PhonePe has partnered with ride-hailing platform PickMe to enable UPI-based payments for Indian travellers in Sri Lanka. Last month, PhonePe entered into a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. Now, with PhonePe, Indian tourists visiting the beautiful island nation of Sri Lanka can enjoy the ease and security of UPI payments for their rides. The collaboration follows the launch of PhonePe in the island nation last month, wherein the Indian High Commissioner Santosh Jha had urged companies in Sri Lanka to engage with Indian companies to build on the UPI stack for innovations in hotel bookings, cab bookings, delivery services etc.

 

2. World Bank revises India’s FY25 growth forecast to 6.6%: The World Bank revised India’s FY25 growth forecast upward to 6.6% from 6.4% projected in January, on the back of strong public investment accompanied by private capex and rise in private consumption. It raised FY26 growth forecast by 20 bps to 6.7%, noting that private consumption will benefit from a recovery in agricultural production and declining inflation. The FY27 growth is projected at 6.8%. Investment growth is still expected to be stronger than previously envisaged and remain robust over the forecast period, with strong public investment accompanied by private investment.

 

3. SBI launches ‘SME Digital Business Loans: State Bank of India (SBI) has launched ‘SME Digital Business Loans’, offering end-to-end sanction turnaround time of up to 45 minutes for SMEs (small and medium enterprises). SME Digital Business Loans leverages technology and an ecosystem of APIs (application programming interface) to streamline the lending process. Utilizing authentic data footprints from sources such as ITR (income tax return), GST (goods & service tax) returns, and bank statements, the Bank has developed a data-driven credit assessment engine capable of providing sanction decisions within a remarkable 10 seconds after submitting the required details, without any human intervention.

 

AWARDS AND HONOURS

 

1. Nethra Gururaj selected for 2024 Oscar Academy Gold Rising Program: Nethra Gururaj, a dynamic cinematographer from Bengaluru, has been selected for the prestigious 2024 Oscar Academy Gold Rising Program. This honour places her among the most promising young filmmakers and cinematographers globally, highlighting her significant achievements and potential. Nethra Gururaj, currently based in Los Angeles, has a diverse portfolio that includes short films, feature films, documentaries, music videos, and experimental pieces. With a Master’s degree in Cinematography from the New York Film Academy, Los Angeles, she has skilfully combined her knowledge in writing, directing, and production design to create visually stunning narratives that resonate deeply with audiences.

 

2. Tredence wins third consecutive Databricks Retail and CPG Partner of the Year Award: Tredence, a global data science and AI solutions company and an Elite partner of Databricks, has been named the 2024 Databricks Retail and CPG Partner of the Year. Tredence has been selected from over 2,500 consulting and system integrator partners for this award, reflecting the company’s exceptional expertise in leveraging the Databricks Data Intelligence Platform to deliver unmatched value to retailers and CPG companies. Tredence and Databricks have together solved last-mile analytics and AI challenges for eight of the world’s top 10 retailers and eight of the top 10 CPG firms.

 

Daily GK Update- 11th June, 2024

 

NATIONAL UPDATES:

 

1. Modi clears PM-Kisan 17th instalment: Prime Minister Narendra Modi has signed the release of the 17th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN Nidhi) scheme. The move will benefit more than 93 million farmers by disbursing more than Rs 20,000 crore. The 16th Installment of the PM KISAN scheme was released on 28th February 2024.

 

2. List of Cabinet Ministers of India 2024: The 18th Lok Sabha General Elections recently ended, and the results were announced on June 4, 2024. The National Democratic Alliance (NDA), led by Narendra Modi, won enough seats to form the government. On June 9, 2024, Narendra Modi made history by becoming India’s Prime Minister for the third time in a row, a feat last achieved by Pandit Jawaharlal Nehru. Along with Modi, 30 cabinet ministers, 5 ministers with independent charge, and 36 ministers of state took the oath, forming the Modi 3.0 government.

 

3. Prem Singh Tamang sworn in as Sikkim CM for 2nd time: Sikkim Krantikari Morcha (SKM) supremo Prem Singh Tamang took oath as the Chief Minister of the Himalayan state for the second consecutive term. The 56-year-old politician was administered the oath of office and secrecy by Governor Lakshman Prasad Acharya at a function held in Paljor Stadium in Gangtok.

Twelve ministers, including the chief minister, were also sworn in. According to the constitution, the maximum strength of the Sikkim Council of Ministers shall be twelve. The SKM was swept back into power in the recentl concluded state legislative assembly election by winning 31 out of 32 seats of the Sikkim Legislative Assembly.

 

INTERNATIONAL UPDATES:

 

1. BRICS Foreigners Ministers meeting held in Russia: BRICS (Brazil-Russia-India-China-South Africa) Foreign Ministers meeting begins in the Russian city of Nizhny Novgorod. The two-day meeting chaired by Russian Foreign Minister Sergey Lavrov comes ahead of the BRICS Summit slated to be held this October. Last year, S Jaishankar represented India at the BRICS foreign ministerial meeting held in South Africa’s Cape Town. This is the first meeting of foreign ministers since the expansion of BRICS in 2023. The 10 full members of the association include Brazil, Russia, India, China, and South Africa with new members Egypt, Iran, UAE, Saudi Arabia, and Ethiopia joining the grouping in 2023.

 

2. 11 June – International Day of Play: International Day of Play is observed on 11 June. This year, It is the first edition of International Day of Play. The Day of Play on 11 June was added to the list of global annual observances recognised by the United Nations, following a successful campaign by Save the Children, the LEGO Group and the LEGO Foundation and other partners, to recognise play as a critical developmental activity for children. Children have a right to play under the UN Convention on the Rights of the Child 1989, yet around 70% of adults aren’t aware of this right, according to toy manufacturer LEGO’s global Play Well Study 2024, underscoring the need for an international day.

 

3. Mumbai Cricket Association honorary president Amol Kale dies during India-Pak match: Amol Kale, aged 47, the Mumbai Cricket Association (MCA) honorary president, passed away following a cardiac in New York. Kale, along with MCA secretary Ajinkya Naik and apex council member Suraj Samat, had watched India’s thrilling win against Pakistan in T20 World Cup from the stadium on June 9. Kale was elected as the MCA president, after defeating World Cup champion Sandeep Patil in a closely-contested battle in October 2022. He was instrumental in the MCA deciding to double Mumbai’s senior men’s match-fees starting the forthcoming season.

 

OTHER UPDATES:

 

DEFENCE

 

1. Indian Navy gets its first Woman Helicopter Pilot: Sub Lieutenant Anamika B. Rajeev became the Indian Navy’s first woman helicopter pilot during a passing out parade held in the naval air station INS Rajali at Arakkonam in Ranipet district. A total of 21 officers were awarded the prestigious ‘Golden Wings’ by Vice Admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command. The trainees completed an intensive 22-week training programme encompassing rigorous flying and ground training at the Indian Naval Air Squadron 561, the alma mater of all helicopter pilots of the Indian Navy.

 

SPORTS

 

1. UP to organize 2025 edition of MotoGP Bharat in Noida: MotoGP India will be held in Buddha Circuit, Greater Noida Gautam Buddha Nagar from 2025 to 2029. The Uttar Pradesh government will sign a contract with Dorna Sports and its Indian partner, Fairstreet Sports, to organize the MotoGP event in Noida. To organize the event through its Invest UP department, the state government will raise crore.

 

2. Sumit Nagapal wins his 6th ATP Challenger Tennis Title: The Indian men’s tennis player Sumit Nagpal won the men’s singles title at the Heilbronn Neckarcup 2024 ATP Challenger Tennis tournament in Germany. It was the sixth ATP Challenger title for India’s top-ranked men’s tennis singles player. In the final, Sumit Nagpal defeated Alexander Ritschard of Switzerland in three sets 6-1, 6(5)-7(7), 6-3. This win will improve the ATP ranking of Sumit Nagpal making him eligible for the 2024 Summer Paris Olympics. The ATP Challenger Tour Tennis Tournament is organised by the apex men’s professional tennis organisation, the Association of Tennis Professionals (ATP).

 

3. Saurabh Sharma strikes Twin Gold in World Para Athlete Grand Prix: Saurabh Sharma, an athlete from Himachal Pradesh’s Hamirpur district, has won two gold medals in the ongoing World Para Athlete Grand Prix in the Nottwil city of Switzerland. Sharma emerged victorious in 155-metre and 5000-metre races. Sharma, who hails from Ropa Khayah village of Nadaun area in Hamirpur district, is representing the Indian team in the T12 category. He had earlier won seven gold medals at the national level.

 

4. Puja Tomar becomes first Indian to win in UFC: Puja Tomar made history as the first Indian to win a fight in the Ultimate Fighting Championship (UFC), defeating Brazil’s Rayanne dos Santos at UFC Louisville 2024. Hailing from Muzaffarnagar, Uttar Pradesh, Puja had already broken new ground last year by becoming the first Indian woman to secure a UFC contract. In her debut fight in the women’s strawweight division, she triumphed by split decision with scores of 30-27, 27-30, and 29-28.

 

5. Max Verstappen won Canadian Grand Prix 2024: Dutch-Belgian racing driver Max Verstappen of Red Bull has won the Canadian Grand Prix 2024. Verstappen’s triumph at the Canadian Grand Prix 2024 marked his 60th Formula 1 win and his sixth victory in nine races this season. McLaren’s Lando Norris secured an impressive second-place finish, while Mercedes’s George Russell clinched the third spot, achieving the team’s first Grand Prix podium finish for the 2024 Formula 1 season. The Canadian Grand Prix 2024 is also known as the AWS GRAND PRIX DU CANADA 2024.

 

AWARDS AND HONOURS

 

1. SEBI bags ‘Best Conduct of Business Regulator’ award: SEBI has been given ‘Best Conduct of Business Regulator’ award in Asia Pacific by The Asian Banker for its role in enhancing the regulatory framework for securities markets in India. The award was received by Sebi’s Whole Time Member Kamlesh Chandra Varshney in a ceremony held in Hong Kong. SEBI has been actively working towards instantaneous settlement. In 2021, T+1 settlement was introduced in a phased manner, which was fully implemented from January 2023.

 

 

Daily GK Update- 10th June, 2024

 

NATIONAL UPDATES:

 

1. Priyanka Jarkiholi youngest tribal woman to win in Loksabha: Priyanka Jarkiholi from Chikkodi became the youngest tribal woman to enter Parliament from an unreserved seat in Karnataka since Independence. Priyanka Jarkiholi has defeated incumbent MP and BJP leader Annasaheb Jolle. Priyanka became the first Jarkiholi to ever win a Lok Sabha election. She is the daughter of Satish Jarkiholi, minister of the Public Works Department, Karnataka.

 

2. IIT Kanpur launched UDAAN programme to boost drone startups: The Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur has joined forces with the Centre of Excellence for Capacity Building, Training, and Design of Unmanned Aerial Vehicles at IIT Kanpur (Drone CoE Kanpur), an initiative by the Government of Uttar Pradesh, and the Drone Federation of India (DFI) to launch the UAV/UAS/Drone Acceleration and Networking (UDAAN) Programme. This programme promises to be a game-changer for aspiring and promising drone startups in India, providing them with the resources and expertise needed to scale their businesses rapidly.

 

3. Narendra Modi takes oath for third consecutive term as PM: Prime Minister-designate Narendra Modi took oath for a third straight term as the head of a coalition government after two full tenures in which the BJP enjoyed a majority on its own. Modi equalled the feat of the first Prime Minister Jawaharlal Nehru, who won in the 1952, 1957 and 1962 general elections. After Modi, Rajnath Singh, Amit Shah, Nitin Gadkari were among 35 other Cabinet Ministers who took oath.

36 Ministers of State, and five Ministers of State (independent charge) also took oath of office.

 

4. Inder Pal Singh Bindra appointed as CCI Secretary: IRS Inder Pal Singh Bindra has been appointed as the new Secretary of Competition Commission of India (CCI). Bindra will replace Anupama Anand, who has resigned after being appointed in September 2023 for a period of 3 years. Prior to his appointment as CCI Secretary, Bindra was posted as an officer in the income tax department. He has now been appointed as CCI Secretary on deputation basis for three years. The Centre had in September last year appointed Anupama Anand, an IRS officer, as the Secretary of the CCI, the country’s competition watchdog, for an initial period of three years that could later be extended to seven years.

 

INTERNATIONAL UPDATES:

 

1. Portugal to use golden visa scheme to help migrants: Portugal to adapt its golden visa scheme to allow wealthy foreigners seeking residency rights to invest in affordable housing for locals or accommodation for migrants. The scheme – called a “solidarity visa” – would complement an existing programme, which since 2012 has offered non-EU nationals who invest in Portugal the right to live in the country. The golden visa scheme has attracted more 7.3 billion euros ($7.94 billion) of funds since its launch.

 

2. Bisleri Limonata appoints Aditya Roy Kapur as Brand Ambassador: Bisleri International has announced Aditya Roy Kapur as the new brand ambassador for Bisleri Limonata. The launch of the vibrant #DoubleTheChill campaign aims to highlight this unique product experience, establishing strong recognition for Limonata’s distinctive flavor blend. Unlike other drinks in the segment, Limonata’s combination of lime and mint sets it apart. Aditya Roy Kapur, embodying the essence of the brand with his cool and refreshing persona, has a strong fan following, especially among Gen Z.

 

3. 9 June – World Accreditation Day: World Accreditation Day is observed every year on 9 June. It is a global initiative established by the International Accreditation Forum (IAF) and the International Laboratory Accreditation Cooperation (ILAC). Theme 2024 – Accreditation: Empowering Tomorrow and Shaping the Future. This annual event aims to raise awareness about the vital role of accreditation in improving various aspects of our lives, from consumer protection to societal well-being, business operations, and government regulations.

 

OTHER UPDATES:

 

 

SPORTS

 

1. Sift Kaur Samra Bags Bronze Medal In Women’s 50m Rifle 3-Position In ISSF Rifle Pistol World Cup: Women’s 50m rifle 3-positions specialist Sift Kaur Samra won a bronze medal in the International Shooting Sport Federation (ISSF) World Cup Rifle/Pistol in Munich. Sift shot 452.9, to give up silver by an agonizing 0.1 to China’s Han Jiayu, the reigning Air Rifle Women’s World Champion. World No. 1 Seonaid Mcintosh of Great Britain won gold with a score of 466.7 Sarabjot Singh also won gold in the Men’s 10m Air Pistol.

 

2. Kumud Saini won gold medal in 2024 Archery Asia Cup Stage 3: Kumud Saini won the sole gold medal for India at the Archery Asia Cup 2024 Stage 3, being held in Suwon, South Korea. The Indian archery team finished its campaign in the Asia Cup with five medals – one gold, two silvers and two bronze. In the final, Kumud defeated South Korean girl Park Yerin 143-140 to win the gold medal.

 

3. French Open: Iga Świątek wins Women’s Singles Title: Iga Swiatek won her third consecutive French Open championship and fourth in five years by defeating Jasmine Paolini 6-2, 6-1 in the final at Roland Garris. She became only the third woman in the Open era to clinch three straight French Open titles. In her first appearance in the final of a Grand Slam, 12th seed Jasmine Paolini, on her way defeated Bianca Andreescu, Elena Rybakina and the starlet Mirra Andreev. Carlos Alcaraz, emerged victorious in the men’s singles final. In a gruelling five-set battle against the formidable Alexander Zverev, Alcaraz showcased his resilience and skill, conquering the German with a scoreline of 6-3, 2-6, 5-7, 6-1, 6-2.

 

BANKING AND FINANCE

 

1. Moody’s maintains stable outlooks on three Indian public sector banks: Moody’s Ratings (Moody’s) affirmed the Baa3 ratings on three Indian public sector banks – Bank of Baroda (BOB), Canara Bank, and Punjab National Bank (PNB). The rating agency maintained stable outlooks on the long-term ratings of all three banks. Moody’s also believes that India’s strong operating environment will continue to support their credit fundamentals over the next 12-18 months. BOB’s, Canara’s and PNB’s NPL ratios respectively declined to 2.9 per cent, 4.2 per cent and 5.7 per cent as of 31 March 2024 from 3.8 per cent, 5.4 per cent and 8.7 per cent a year earlier, supported by lower bad loans (or slippage) as well as stronger recoveries and higher write-offs.

 

2. RBI permits automatic replenishment of UPI Lite wallet: The Reserve Bank of India has proposed a facility to allow customers to automatically replenish their UPI Lite wallets to promote small-value digital payments. Currently, the UPI Lite has a daily limit of ₹2,000, while the upper limit for a single payment is ₹500. UPI Lite is a simplified version of the Unified Payments Interface (UPI). It acts as an on-device wallet for small-value transactions. To encourage wider adoption of UPI Lite, it is now proposed to bring it under the e-mandate framework by introducing a facility for customers to automatically replenish their UPI Lite wallets if the balance goes below the threshold limit set by them.

 

AWARDS AND HONOURS

 

1. Krishna Prakash honored with Hindi Sahitya Bharati Award: Krishna Prakash, renowned as the head of Mumbai Police’s elite counter-terrorism unit, Force One, has been honored with the prestigious Annual Hindi Sahitya Bharati Award. The recognition was bestowed during the Sab Me Ram Shashwat Shri Ram multicultural festival in Mumbai. The event aimed to narrate Lord Ram’s story through various artistic forms, offering a unique cultural experience. Incidentally, Krishna Prakash is a two-time Guinness World Record holder who will achieve his third this June for initiating the maximum number of letters through postcards to Lord Ram, enabling the common man’s direct connection with the divine.

 

 

Daily GK Update- 9th June, 2024

 

NATIONAL UPDATES:

 

1. 2 more Indian wetlands added to Ramsar List: India has added two bird sanctuaries from Bihar, Nagi and Nakti, to the ‘Ramsar Sites’ list, taking the tally to 82. The newest ‘Wetlands of International Importance’, both man-made reservoirs situated in the Jhajha forest range of Jamui District in Bihar, were added to Ramsar Sites as part of World Environment Day‌. The two catchments feature dry deciduous forests surrounded by hills. With the two sites, India now equals China in terms of Ramsar Sites. Both countries have 82 recognized waterlogged ecosystems in the country. The UK with 175 has the highest number of such sites, followed by Mexico, 144.

 

2. Raj Priy Singh (IFoS) appointed as Director in Department of Rural Development: Raj Priy Singh (IFoS) has been selected for the appointment as Director in the Department of Rural Development under the Ministry of Rural Development. According to an order issued from the Department of Personnel & Training (DoPT), Singh has been selected for the appointment under the Central Staffing Scheme (CSS) for a period with effect from the date of taking over charge of the post until further orders, whichever is earlier.

 

3. 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 ..

 

4. India Exim Bank Opens Nairobi Office to Boost East Africa Trade: The Export-Import Bank of India (India Exim Bank) recently opened its East Africa Representative Office in Nairobi, Kenya. This is part of a plan to grow its business around the world. The goal of this project is to improve India’s ..

INTERNATIONAL UPDATES:

 

1. 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.

 

2. 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.

 

3. European Commission Excludes Tanzania From Conservation Grant: The European Commission (EC) changed the requirements for getting a conservation grant through the NaturAfrica program on June 5, 2024. This was a big change that affected Tanzania in particular. This choice was written down in “CORRIGENDUM NO. 4” on.

 

4. Panama Evacuates Island Due to Climate Change: As a result of higher sea levels, Panama is currently dealing with a major effect of climate change by moving a whole island community. The native Guna people of Gardi Sugdub, an island in the Guna Yala archipelago in Panama’s ..

 

OTHER UPDATES:

 

SPORTS

 

Global Farewell for Football Icon Sunil Chhetri: An important player in Indian football, Sunil Chhetri, has officially retired from international football. His farewell match, which was a World Cup Qualifier against Kuwait, took place recently in Kolkata’s Salt Lake Stadium. This marked the end of his illustrious ..

 

BANKING AND FINANCE

 

1. RBI keeps Repo Rate unchanged for 8th consecutive time at 6.5%: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5%. The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has voted by a 4:2 majority to keep the policy repo rate unchanged at 6.5% for eight consecutive times. The MPC had last changed rates in February 2023. The MPC has revised its GDP growth forecast upwards from the earlier 7% estimate to 7.2% for the financial year 2024-2025. It has also decided to remain focused on withdrawal of accommodation to ensure that inflation does not accelerate, while supporting growth.

 

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. Sebi Wins ‘Best Business Regulator’ Award in Asia Pacific: According to The Asian Banker, the Securities and Exchange Board of India (SEBI) was recently given the “Best Conduct of Business Regulator” award for the Asia-Pacific area. This award, which was given in an event in Hong Kong, shows how ..

 

2. Bihar Bird Sanctuaries Gain International Ramsar Status

Helpline Number # 6351299206

: The Nagi and Nakti Bird Sanctuaries in Bihar were recently named wetlands of international importance under the Ramsar Convention. This shows that India is serious about protecting wetlands. With this addition, India now has 82 Ramsar sites, which is a ..