22 June 2024 Current Affairs

National News

Tenth International Day Of Yoga Celebrated Across Globe

• The 10th International Day of Yoga is being celebrated across the globe today. The main function was held at Sher-i-Kashmir International Conference Centre (SKICC) in Srinagar, Jammu and Kashmir. Prime Minister Narendra Modi led the celebrations from Srinagar.
• On the occasion, the Prime Minister addressed the gathering and participated in the Common Yoga Protocol session, highlighting Yoga’s significance in nurturing physical, mental, and spiritual growth. The Prime Minister called Yoga is a great tool for self-improvement.  

Madhya Pradesh Govt Approves The Establishment Of One Prime Minister College Of Excellence In All Districts Of State

• In Madhya Pradesh, the Prime Minister College of Excellence will be inaugurated ceremonially in all 55 districts of the state on July 1. In a meeting with senior officials on the activities of the Higher Education Department, Chief Minister Dr Mohan Yadav said that a drone policy will also be made in the state.
• He directed us to ensure better teaching arrangements in view of the increasing employment opportunities in aviation, agriculture, and artificial intelligence (AI).

The Madhya Pradesh government, under the National Education Policy, has taken a significant step by approving the establishment of a Prime Minister College of Excellence in each of the state’s 55 districts. These selected colleges will receive additional posts and necessary budget allocations to facilitate their development into institutions of excellence.

Key Initiatives:

1. Prime Minister College of Excellence:
   • Establishment in 55 Districts: Each district will have one designated Prime Minister College of Excellence.
   • Resource Allocation: Additional posts and a dedicated budget have been approved to support these colleges.
2. Bhartiya Gyan Parampara Kendra:
   • Traditional Indian Knowledge Centers: These centers will be established in each PM College of Excellence.
   • Objective: To promote and preserve traditional Indian knowledge and wisdom.
3. Environmental Awareness through Vidyavans:
   • Educational Gardens: Vidyavans will be developed in all government, non-government, and aided colleges.
   • Purpose: To increase awareness about environmental protection among students.

These initiatives reflect the Madhya Pradesh government’s commitment to enhancing educational infrastructure, promoting traditional knowledge, and fostering environmental consciousness among students.

Madhya Pradesh

• Capital: Bhopal
• Chief minister: Mohan Yadav
• Governor: Mangubhai Chhaganbhai Patel 

Assam: Famous Ambubachi Mela Begins At Kamakhya Temple 

• In Assam, the famous Ambubachi Mela has begun at the Kamakhya temple. This will conclude on the 26th of this month. Lakhs of devotees have gathered for the Ambubachi mela.
• The event celebrates the annual menstruation of the goddess Kamakhya, symbolising fertility and womanhood. During the festival, the gates of Kamakhya Temple will remain closed. The temple gates will reopen at 9:08 p.m. on the 25th of this month.
• The Kamrup Metro District administration has made elaborate arrangements for the devotees. 

Assam:

• Capital: Dispur
• Chief minister: Himanta Biswa Sarma
• Governor: Gulab Chand Kataria

Andhra Pradesh Legislative Assembly Commences Its Inaugural Session

• Andhra Pradesh Legislative Assembly commenced its inaugural session today, marked by the oath-taking of the newly-elected MLAs in the Assembly Hall at Velagapudi, Amravati.
• TDP MLA G Butchaiah Chowdary presided as the Pro-tem Speaker.  Chief Minister Chandrababu Naidu was the first to take the oath, followed by Deputy Chief Minister Pawan Kalyan.
• Pro tem Speaker administered oath to former chief minister  Y S Jagan Mohan Reddy along with his MLAs. After taking his oath, Naidu, Pawan Kalyan and Y S Jagan greeted the Pro-tem Speaker. During this session, a new Speaker and Deputy Speaker will be elected.

Cabinet approves development of Lal Bahadur Shastri International Airport, Varanasi

• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal of Airports Authority of India (AAI) for development of Lal Bahadur Shastri International Airport, Varanasi with an outlay of Rs 2,870 crore.
• It includes Construction of New Terminal Building, Apron Extension, Runway Extension, Parallel Taxi Track & Allied works.

Funded by Airport Authority of India’s (AAI): The expansion, which will be funded by Airports Authority of India’s (AAI) internal resources, will include construction of a new terminal building, apron extension, runway extension, parallel taxi track and allied works.

Varanasi airport as a green airport: “Varanasi airport will be developed as a green airport with the primary objective of ensuring environmental sustainability through energy optimisation, waste recycling, carbon footprint reduction, solar energy utilisation, and incorporation of natural daylighting, alongside other sustainable measures throughout the planning, development, and operational stages.

International news

The Asian Development Bank (ADB) has approved a USD 170 million

• The Asian Development Bank (ADB) has approved a USD 170 million policy-based loan aimed at bolstering India’s health system preparedness and capacity to respond to future pandemics.
• The loan, under the Strengthened and Measurable Actions for Resilient and Transformative Health Systems (SMART health) Subprogram 1, will support India’s National Health Policy 2017.
• The ADB also signed a USD 50 million commitment to the Actis Asia Climate Transition Fund, to accelerate the clean energy transition and address climate change impacts in Asia and the Pacific.

About Asian Development Bank (ADB):

• ADB, established in 1966, is a multilateral development financing institution dedicated to reducing poverty in Asia and the Pacific.
• President- Masatsugu Asakawa
• Headquarters- Mandaluyong City, Manila, Philippines
• Members- 68 members (49 from the region).

Australia-India Critical Agriculture Skills Pilot Project Roundtable

The Ministry of Skill Development and Entrepreneurship (MSDE) of India, in collaboration with the Australian Government, hosted a significant roundtable to discuss insights from the Australia-India Critical Agriculture Skills Pilot Project. This initiative is aimed at transforming the agricultural sector by identifying and developing emerging job roles.

Key Details:

1. Leadership and Representation:
   • The roundtable was chaired by Atul Kumar Tiwari, Secretary, MSDE.
   • Mr. Mathew Johnston, Minister Counsellor, Education and Research, Australian High Commission, co-led the discussions.
2. Project Objectives:
   • The initiative seeks to reshape the agricultural sector by identifying and developing emerging job roles.
   • A focus on scaling and replicating the project across various sectors.
3. Stakeholder Involvement:
   • Participation from key organizations including:
     • National Council for Vocational Education and Training (NCVET)
     • National Skill Development Corporation (NSDC)
     • Indian Council for Agricultural Research (ICAR)
     • Ministry of Education (MoE)
     • Agriculture Skill Council of India (ASCI)
4. Consultative Development Process:
   • Engagement with 89 experts from 64 different organizations.
   • Review of various government reports to inform the development process.
5. Project Outcomes:
   • Mapping of 107 emerging job roles within the agriculture sector.
   • Identification of 5 critical job roles for pilot projects.

About Ministry of Skill Development and Entrepreneurship (MSDE): Minister of State (MOS) (Independent Charge (I/C))- Jayant Chaudhary (Rajya Sabha, Uttar Pradesh)

Australia:

• Capital: Canberra
• President: The Hon Anthony Albanese 

Bank news

RBI grants Payment Aggregator license to SabPaisa

• SabPaisa (SRS Live Technologies Private Limited), a payment solutions provider has announced that it has received final approval from the Reserve Bank of India (RBI) to function as a Payment Aggregator (PA) under the Payments and Settlement Systems Act, 2007.
• The license will allow SabPaisa to offer comprehensive payment aggregation services to merchants across the country. Since its establishment in 2016, SabPaisa has been offering innovative payment gateway solutions and related products such as Payouts and Subscriptions.
• Introduced in March 2020, RBI’s payment aggregator framework mandates that only authorized entities can provide payment aggregation services to merchants. This means SabPaisa has now joined the likes of Juspay, Razorpay, Stripe, neo-bank Open and others in receiving the RBI nod for a payment aggregator authorization.

RBI June 2024 Bulletin: Key Highlights

On June 2024, the Reserve Bank of India (RBI) released the June 2024 issue of its monthly Bulletin, providing an optimistic outlook on India’s economic performance.

Key Projections and Insights:

1. GDP Growth Projections:
   • Q1 FY25 (April-June 2024-25): India’s GDP is projected to grow by 7.3%. This aligns with the projection made by RBI in its 2nd bi-monthly Monetary Policy released on June 7, 2024.
   • Full FY24 (2023-24): India’s GDP growth was recorded at 8.2%.
2. Current Account Deficit (CAD): FY24 (2023-24): The CAD is expected to be lower than 1% of GDP, indicating a strong external balance position.
3. Past Performance: Q4 FY24 (January-March 2024): India’s GDP growth rate was 7.8%, exceeding expectations.
4. Global Economic Context:
   • Q1 FY25: The global growth remained stable.
   • Monetary Policies: Many central banks worldwide have shifted towards a less restrictive monetary policy stance due to a decrease in inflation in their economies.
5. State of the Economy Article:Published in the RBI’s June 2024 Bulletin, this article provides an analysis of the stable global growth and the tendency of central banks to ease their monetary policies as inflation pressures have reduced.

About Reserve Bank of India(RBI):

• Governor- Shaktikanta Das(25th Governor of RBI)
• Headquarter- Mumbai, Maharashtra
• Established-1 April, 1935

Federal Bank Launches Federal RuPay Wave Credit Card with UPI Integration and Attractive

On June 2024, the Reserve Bank of India (RBI) released the June 2024 issue of its monthly Bulletin, providing an optimistic outlook on India’s economic performance.

Key Projections and Insights:

1. GDP Growth Projections:
   • Q1 FY25 (April-June 2024-25): India’s GDP is projected to grow by 7.3%. This aligns with the projection made by RBI in its 2nd bi-monthly Monetary Policy released on June 7, 2024.
   • Full FY24 (2023-24): India’s GDP growth was recorded at 8.2%.
2. Current Account Deficit (CAD): FY24 (2023-24): The CAD is expected to be lower than 1% of GDP, indicating a strong external balance position.
3. Past Performance: Q4 FY24 (January-March 2024): India’s GDP growth rate was 7.8%, exceeding expectations.
4. Global Economic Context:
   • Q1 FY25: The global growth remained stable.
   • Monetary Policies: Many central banks worldwide have shifted towards a less restrictive monetary policy stance due to a decrease in inflation in their economies.
5. State of the Economy Article:Published in the RBI’s June 2024 Bulletin, this article provides an analysis of the stable global growth and the tendency of central banks to ease their monetary policies as inflation pressures have reduced.

About Reserve Bank of India(RBI):

• Governor- Shaktikanta Das(25th Governor of RBI)
• Headquarter- Mumbai, Maharashtra
• Established-1 April, 1935

Federal Bank Launches Federal RuPay Wave Credit Card with UPI Integration and Attractive

On June 2024, the Reserve Bank of India (RBI) released the June 2024 issue of its monthly Bulletin, providing an optimistic outlook on India’s economic performance.

Key Projections and Insights:

1. GDP Growth Projections:
   • Q1 FY25 (April-June 2024-25): India’s GDP is projected to grow by 7.3%. This aligns with the projection made by RBI in its 2nd bi-monthly Monetary Policy released on June 7, 2024.
   • Full FY24 (2023-24): India’s GDP growth was recorded at 8.2%.
2. Current Account Deficit (CAD): FY24 (2023-24): The CAD is expected to be lower than 1% of GDP, indicating a strong external balance position.
3. Past Performance: Q4 FY24 (January-March 2024): India’s GDP growth rate was 7.8%, exceeding expectations.
4. Global Economic Context:
   • Q1 FY25: The global growth remained stable.
   • Monetary Policies: Many central banks worldwide have shifted towards a less restrictive monetary policy stance due to a decrease in inflation in their economies.
5. State of the Economy Article:Published in the RBI’s June 2024 Bulletin, this article provides an analysis of the stable global growth and the tendency of central banks to ease their monetary policies as inflation pressures have reduced.

About Reserve Bank of India(RBI):

• Governor- Shaktikanta Das(25th Governor of RBI)
• Headquarter- Mumbai, Maharashtra
• Established-1 April, 1935

Federal Bank Launches Federal RuPay Wave Credit Card with UPI Integration and Attractive Rewards

Federal Bank, in partnership with the National Payments Corporation of India (NPCI), has introduced the Federal RuPay Wave Credit Card. This new offering merges the advantages of RuPay credit cards with the ease and security of UPI-powered transactions.

Key Features and Benefits of the Federal RuPay Wave Credit Card:

1. Simple Application Process:Customers can apply for the card effortlessly via the FedMobile app, the bank’s mobile banking platform.
2. Zero Fees:The card comes with no Annual Maintenance Charge (AMC) and no joining fees, making it a cost-effective option for users.
3. Cashback Offer:Cardholders receive a 10% cashback on their first five UPI transactions using the Wave Credit Card.
4. Bonus Reward Points: Earn 1000 bonus reward points by spending Rs 50,000 in a quarter.
5. Regular Reward Points:Accumulate 1 reward point for every Rs 200 spent, encouraging consistent use of the card for everyday transactions.

Integration with UPI:

• Seamless Digital Transactions: The Federal RuPay Wave Credit Card can be linked to popular UPI apps, enabling swift, secure, and convenient mobile transactions.
• Combining Benefits:This integration brings together the comprehensive benefits of the RuPay credit card with the widespread acceptance and convenience of UPI payments.

About Federal Bank Limited:

• It was incorporated on April 23, 1931. The Bank was renamed as The Federal Bank Limited in December 1949.
• Managing Director (MD) & Chief Executive Officer (CEO)- Shyam Srinivasan
• Headquarters- Aluva, Kerala
• Tagline- Your Perfect Banking Partner

About NPCI:

• NPCI is an umbrella organisation for operating retail payments and settlement systems in India.
• Managing Director (MD) & Chief Executive Officer (CEO)- Dilip Asbe
• Headquarters- Mumbai, Maharashtra
• Founded – 19 December 2008

Appointment news

Akhil Gupta Appointed as Chairman of Bharti AXA Life Insurance

Akhil Gupta has been appointed as the Chairman of Bharti AXA Life Insurance Company Limited, a wholly-owned subsidiary of Bharti Group. In addition to this new role, he continues to serve as the Vice Chairman of Bharti Enterprises Limited.

Sports news

Copa America Football Tournament 2024 to Kick off in the USA

• The 48th edition of the Copa America football tournament will kick off in the United States on 21 June 2024. This is the second time in the 108-year history of the Copa America Cup that the event is being held outside South America. In 2016, the United States hosted the Copa America Cup.
• Defending champions Argentina will face debutants Canada in the opening match at the Mercedes-Benz Stadium in Atlanta on June 21, 2024.
• The United States will host the tournament from 21 June to 15 July 2024 in fourteen cities.

Copa America Teams and Groups of 2024

• In the 2024 Copa America, 16 football teams from the Americas (North America and South America) are participating. Ten teams are CONMEBOL members, and six are CONCACAF teams.
• CONMEBOL, or the South American Football Confederation, is the governing body of football in the South American continent,
• CONCACAF, or the Confederation of North, Central America and Caribbean Association Football, is the governing body of football in North America, Central America and the Caribbean Islands.

The teams have been divided into 4 groups 

• Group A: Argentina, Peru, Chile, Canada
• Group B: Mexico, Ecuador, Venezuela, Jamaica
• Group C: United States, Uruguay, Panama, Bolivia
• Group D: Brazil, Colombia, Paraguay, Costa Rica

Most successful teams in the Copa America 

• Argentina and Uruguay jointly share the honour of being the most successful countries in the Copa America Cup. Both countries have won the trophy fifteen times each. 
• Brazil has won the tournament 14 times.
• Argentina are the defending champions. They defeated the host, Brazil, in the final of the 2021 Copa America.

Important days

International Day of Yoga 2024 Celebrates on 21st June Globally

• International Yoga Day is a worldwide celebration of yoga, an ancient Indian practice that promotes physical, mental, and spiritual well-being.
•  Observed annually on June 21st, this special day brings together millions of people across the globe for yoga classes, workshops, and talks.
• From serene mountain retreats to bustling city squares, people unite in their pursuit of holistic health and inner peace.

10th Anniversary Milestone: The year 2024 marks a significant milestone as we celebrate the 10th anniversary of International Yoga Day. This landmark occasion reflects the growing global recognition of yoga’s profound impact on individual and collective well-being.

2024 Theme: “Yoga for Self and Society”

The Birth of International Yoga Day

Prime Minister Modi’s Vision

The idea for International Yoga Day was first proposed by Indian Prime Minister Narendra Modi during his address to the UN General Assembly in 2014. He envisioned a day that would celebrate yoga’s universal appeal and promote its numerous benefits.

United Nations Recognition

Recognizing yoga’s potential to contribute to global well-being, the United Nations officially proclaimed June 21st as the International Day of Yoga on December 11, 2014. This resolution (69/131) was supported by an unprecedented 175 member states, highlighting the international community’s enthusiasm for yoga.

Choosing the Date

June 21st was selected as it coincides with the summer solstice in the Northern Hemisphere. This longest day of the year symbolizes:

• A period of growth and development
• Renewed connections with nature and oneself
• The transition from darkness to light

Obituary news

Renowned Bharatanatyam Dancer and Padma Bhushan Awardee Professor C V Chandrasekhar Passes Away at 89

Professor C V Chandrasekhar, fondly known as CVC or Chandru anna, has passed away at the age of 89. Born on May 22, 1935, in Shimla, Himachal Pradesh, he was a celebrated Bharatanatyam dancer and a recipient of the prestigious Padma Bhushan award for his significant contributions to the art form.

Awards and Honors:

• Padma Bhushan (2011): Awarded for his exceptional contributions to Bharatanatyam.
• M N Subramanian Memorial Award (2013): Conferred by the Music Academy, Chennai.
• Natya Kalanidhi Award (2013): Bestowed by the Association of Bharatanatyam Artistes of India (ABHAI).
• UP Sangeet Natak Akademi Award (1978): Recognized by the Uttar Pradesh Sangeet Natak Akademi.
• Gujarat Nrutya Natak Akademi Award (1988): Honored by the Gujarat Nrutya Natak Akademi.
• Kalidas Samman (2008): Acknowledged for his outstanding contribution to the arts.
• Sangeeta Kala Acharya: Received from the Music Academy.
• Nritya Choodamani: Conferred by Sri Krishna Gana Sabha.

Professor Chandrasekhar’s legacy in the field of Bharatanatyam continues to inspire dancers and enthusiasts around the world.