National News
Government of India Enforces Key Provisions of the Telecommunications Act, 2023
- On 21st June 2024, The Government of India, in exercise of powers given under sub-section (3) of section 1 of the Telecommunications Act, 2023 (44 of 2023) has notified that the provisions of sections 1, 2,10 to 30, 42 to 44, 46,47,50 to 58, 61 and 62 of the said Act will come into force from 26th June 2024.
- The Act has repealed the 138-year old Indian Telegraph Act, 1885, and the Wireless Telegraph Act (1933), and the Telegraph Wires (Unlawful Possession) Act (1950).
Note: However, the section 59 of the Telecommunications Act, 2023, which deals with the Telecom Regulatory Authority of India (TRAI) Act, 1997 will come into effect later.
Background:
- The Act was 1st introduced by then- Union Minister of Electronics and Information Technology, Ashwini Vaishnaw, as Telecommunications Bill, 2023 in the Lok Sabha (Lower House of the Parliament) on 18th December, 2023 during the winter session of the Parliament and was passed in Lok Sabha on 20th December, 2023.
- Later, the Bill was passed by Rajya Sabha (Upper House) on 21st December, 2023.The President of India, Droupadi Murmu gave assent to The Telecommunications Bill, 2023 on 24th December, 2023.
About Ministry of Communications (MoC):
- Union Minister- Jyotiraditya M. Scindia (Constituency- Guna, Madhya Pradesh)
- Minister of State (MOS)- Chandra Sekhar Pemmasani (Constituency- Guntur, Andhra Pradesh)
New Indian Criminal Laws to Replace Colonial-era Codes from July 1, 2024
On June 2024, The Department of Personnel and Training (DoPT), the Ministry of Personnel, Public Grievances and Pensions (MoPPG&P) announced that 3 new criminal laws: Bharatiya Nyaya (Second) Sanhita (BNS2) Act, 2023; Bharatiya Nagarik Suraksha (Second) Sanhita (BNSS2) Act, 2023; and Bharatiya Sakshya (Second) Adhiniyam Act, 2023 will come into effect from 1st July, 2024.
- These 3 new criminal laws have repealed the British-colonial era laws: The Indian Penal Code (IPC), 1860; the Criminal Procedure Code (CrPc), 1973 and the Indian Evidence Act (IEA), 1872 respectively.
- The President of India, Droupadi Murmu gave assent to these 3 new criminal laws on 24th December, 2023.
Note: On 19th June 2024, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi has approved the proposal of the Ministry of Home Affairs (MoHA) for the National Forensic Infrastructure Enhancement Scheme (NFIES) with budget of more than Rs 2200 crore from FY25(2024-25) to FY29 (2028-29).
About Ministry of Home Affairs (MoHA):
- Union Minister- Amit Shah (Lok Sabha constituency- Gandhinagar, Gujarat)
- Minister of State (MoS)- Nityanand Rai (Lok Sabha constituency- Ujiarpur, Bihar); Bandi Sanjay Kumar (Lok Sabha constituency- Karimnagar, Telangana)
Hemis Festival 2024: Celebrating Buddhist Culture in Ladakh
The Hemis Festival, a vibrant celebration of Tibetan Buddhism, takes place annually in Ladakh, India. In 2024, this important cultural event will be held on June 16th and 17th.
What is the Hemis Festival?
The Hemis Festival, also known as Hemis Tsechu, commemorates the birth anniversary of Guru Padmasambhava, a revered figure in Tibetan Buddhism. This two-day celebration brings the Hemis Monastery, Ladakh’s largest Buddhist monastery, to life with color, music, and spiritual energy.
Key Features of the Festival
Chaam Dance: The festival’s highlight is the Chaam dance, performed by monks wearing colorful masks representing Guru Padmasambhava’s eight avatars. This sacred dance symbolizes the triumph of good over evil.
Cultural Displays
- Thangkas (Buddhist paintings) are exhibited
- Local handicrafts are showcased
- Traditional Ladakhi attire is worn by attendees
Religious Ceremonies
- Blowing of Dungchen (long trumpets) marks the festival’s start
- Lamas perform rituals around a central flagpole
International news
Indian Deposits in Swiss Banks Drop by 70% to Reach Four-Year Low of ₹9,771 Crore
Indian funds in Swiss banks have plummeted by 70% in 2023, reaching a four-year low of 1.04 billion Swiss Francs (₹9,771 crore), according to the Swiss National Bank (SNB). This marks a significant decline after a peak in 2021 and is attributed to decreases in bonds, securities, and other financial instruments.
Key Drivers of Decline
The sharp decline in funds held by Indian clients is primarily due to a substantial reduction in investments in bonds, securities, and other financial instruments. Funds held in customer deposit accounts and cash through other bank branches in India have also decreased significantly.
Breakdown of Funds
- Customer Deposits: CHF 310 million (down from CHF 394 million in 2022)
- Other Banks: CHF 427 million (down from CHF 1,110 million)
- Fiduciaries/Trusts: CHF 10 million (down from CHF 24 million)
Historical Context: Indian deposits reached a record high of nearly CHF 6.5 billion in 2006, but have generally been on a downward trend with exceptions in 2011, 2013, 2017, 2020, and 2021.
International Comparisons: The UK tops the list of foreign clients’ funds in Swiss banks with CHF 254 billion, followed by the US (CHF 71 billion) and France (CHF 64 billion). India ranked 67th at the end of 2023, down from 46th in 2022.
Swiss National Bank (SNB):
- Establishment: The Swiss National Bank (SNB) was established on June 16, 1907.
- Headquarters: The headquarters are located in Bern and Zurich, Switzerland.
- Current President: Thomas Jordan (as of 2023)
Economy news
BharatPe Partners with Invest India to Boost Digital Financial Inclusion for ODOP Producers
- On June 2024, BharatPe, a leading fintech company in India announced that it has collaborated with Invest India to promote digital financial inclusion and digital financial literacy across One District One Product (ODOP) producers and sellers across ODOP districts in India.
- This will improve access to the digital payment mediums amongst ODOP merchants in tier 3 and tier 4 cities and rural areas of India.
About Partnership between BharatPe and Invest India:
- This partnership is structured around a robust and customized Information, Education, and Communication (IEC) program.
- The program will not be just restricted to impart knowledge on digital payments, but will also include to raise awareness about increasing cyber frauds and to how protect personal data while using digital payments.
About ODOP:
- ODOP is an initiative under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry(MOCI), Government of India (GoI).
- ODOP initiative is seen as a transformational step forward towards realizing the true potential of a district, gives boost to economic growth and generate employment and rural entrepreneurship, which in turn taking us closer the goal of Atmanirbhar Bharat.
- It aims to transform each district of the country into a Manufacturing and Export hub by identifying products in specific districts which have export potential.
- ODOP initiative has identified a total 1102 products from 761 districts across India
- Uttar Pradesh (UP) was the 1st state in India to launch the concept of ODOP in 2018.
About Bharatpe:
- It was co-founded by Ashneer Grover and Shashvat Nakrani in 2018.
- Chief Executive Officer (CEO)- Nalin Negi
- Headquarters- New Delhi, Delhi
About Invest India:
It is a non-profit venture under the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry(MOCI).
- Managing Director (MD) and CEO– Nivruti Rai
- Headquarters- New Delhi, Delhi
- Established– 2009
Impact of Decreasing FDI Inflows on India: Insights from UNCTAD’s 2024 World Investment Report
According to the United Nations Conference on Trade and Development (UNCTAD)‘s 2024 World Investment Report: Investment facilitation and digital government, India’s Foreign Direct Investment (FDI) inflows fell by 43% in 2023, from USD 49 billion in 2022 to USD 28 billion in 2023.
- With this, India’s rank among FDI recipients dropped to 15th in 2023 from 8th in 2022.
- India’s rank for FDI outflows improved to 20th in 2023 from 23rd in 2022.
About United Nations Conference on Trade and Development (UNCTAD):
UNCTAD within the United Nations Secretariat that promotes the interests of developing countries in world trade.
- Secretary-General– Rebeca Grynspan
- Headquarters- Geneva, Switzerland
- Founded- 30 December 1964
Award News
Karnataka Vikas Grameena Bank (KVGB) Receives National Award for Atal Pension Yojana Enrollment
- Indian Regional Rural Bank (RRB), Karnataka Vikas Grameena Bank (KVGB) sponsored by Canara Bank, has received the National Award from the Pension Fund Regulatory and Development Authority (PFRDA) for maximum enrolment under Atal Pension Yojana (APY).
- The award was jointly presented by Vivek Joshi, Secretary, Department of Financial Services (DFS) under the Ministry of Finance (MOF), Government of India (GoI) and Deepank Mohanty, Chairman, PFRDA to Shreekant M Bhandiwad, Chairman, KVGB at ceremony held on 21st June, 2024 in New Delhi, Delhi.
Key Points:
- So far, more than 4.27 lakh (i.e. 4,27,736) combined accounts were opened by KVGB under APY.
- During the FY 24(2023-24), KVGB has enrolled 86,350 accounts against the set target of 67,932.
- Also, KVGB surpassed target of average 100 accounts per branch set by PFRDA, with an average of 137 accounts which is the highest among all banks in South India.
Atal Pension Yojana (APY) is a government-backed pension scheme launched by the Government of India aimed at providing a pension for citizens of India, especially those in the unorganized sector.
Here are key points about the Atal Pension Yojana:
- Objective: APY aims to provide a sustainable pension to citizens working in the unorganized sector who lack a formal pension scheme.
- Administration: The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) under the National Pension System (NPS).
- Enrollment Criteria:
- Individuals must be citizens of India.
- Age of enrollment should be between 18 to 40 years.
- The pension scheme requires contributions till the age of 60 years.
- Benefits:
- The pension amount is guaranteed and provides a fixed minimum pension ranging from Rs. 1,000 to Rs. 5,000 per month, depending on the contributions and age at entry.
- In case of the subscriber’s demise, the spouse receives the pension, and in the absence of the spouse, the nominee receives the accumulated pension wealth.
- Contribution Structure:
- Contributions vary based on the age of entry and the desired pension amount.
- Contributions are auto-debited from the subscriber’s bank account.
- Government Co-contribution:
- The government co-contributes 50% of the subscriber’s contribution or Rs. 1,000 per year, whichever is lower, for eligible subscribers who join the scheme by December 31, 2015, and who are not income taxpayers.
About Karnataka Vikas Grameena Bank (KVGB): It was formed by the merger of 4 RRBs namely, Malaprabha Grameena Bank, Bijapur Grameena Bank, Varada Grameena Bank and Netravathi Grameena Bank. It is a scheduled RRB with share capital contributed in the ratio of 50:15:35 by the Government of India (GoI), the Government of Karnataka, and the Canara Bank respectively.
- Chairman- Shreekant M Bhandiwad
- Headquarters– Dharwad, Karnataka Formed- 12th September, 2005
Appointment news
Manoj Jain Appointed as Chairman and Managing Director of Bharat Electronics Limited
Bharat Electronics Limited (BEL), a leading Indian defense electronics company, has announced a significant change in its top leadership. Manoj Jain has been appointed as the new Chairman and Managing Director of the company.
Bharat Electronics Limited:
- (Corporate Office) in Nagawara, Bangalore.
- Established in 1954
- Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry of Defence, Government of India.
Government Appoints Atul Kumar Chaudhary as Secretary of Telecom Regulatory Authority of India
The government (on 20 June) has appointed Atul Kumar Chaudhary, as the new Secretary, Telecom Regulatory Authority of India (TRAI), the position which was lying vacant after superannuation of V Raghunandan on May 31.
TRAI:
- Establishment: TRAI was established in 1997 by the Telecom Regulatory Authority of India Act, 1997.
- Headquarters: New Delhi, India.
President Appoints Bhartruhari Mahtab, 7-Time Member of Parliament, as Pro-Tem Speaker of Lok Sabha
- In a significant development, Bhartruhari Mahtab, a seven-term Lok Sabha member, has been appointed as the pro tem Speaker of the Lower House. The announcement was made by Parliamentary Affairs Minister Kiren Rijiju on June 20.
- About Bhartruhari Mahtab: Bhartruhari Mahtab is the son of Odisha’s former Chief Minister, Harekrushna Mahtab. Bhartruhari Mahtab was associated with Naveen Patnaik-led BJD before the 2024 Lok Sabha elections. However, citing reduced activity within the party, he announced his resignation in March and subsequently joined the BJP. With a political career spanning seven terms, Mahtab has represented the Cuttack Lok Sabha seat since 1998.
Pro Tem Speaker in the Lok Sabha
Role and Purpose: A pro tem Speaker is a temporary position appointed to carry out essential duties in the Lok Sabha when there is a vacancy for the Speaker before a new Lok Sabha is formed. The pro tem Speaker oversees the initial meetings and procedures, including the swearing-in of new members.
Appointment Process:
- Selection: The Ministry of Parliamentary Affairs or the Prime Minister identifies the pro tem Speaker, typically the senior-most member of the Lok Sabha in terms of membership years, and three other members to assist.
- Approval: The Minister of Parliamentary Affairs seeks the approval of these members from the President.
- Notification: Upon the President’s approval, the pro tem Speaker and the three members are informed of their appointments.
Swearing-in Ceremony:
- The President administers the oath to the pro tem Speaker at the Rashtrapati Bhawan.
- The pro tem Speaker then administers the oath to the newly elected Lok Sabha members.
Constitutional Basis:
- The position of the pro tem Speaker is not explicitly mentioned in the Constitution.
- The process is detailed in the ‘Handbook on the Working of Ministry of Parliamentary Affairs’.
What are the duties of pro tem speaker?
- According to Article 99 of the Constitution, every Member of the House must take an oath or affirmation before taking their seat. The pro tem Speaker is supposed to perform duties such as administering oaths to new Members of Parliament.
Ranks and report newsIndia Ranks Third in Global Domestic Airline Market
India has achieved significant milestones in its domestic aviation sector over the past decade, emerging as the world’s third-largest market for domestic airlines by April 2024. This marks a remarkable ascent from its fifth position ten years ago, driven by robust growth and strategic developments under Prime Minister Narendra Modi’s leadership.
Growth Trajectory and Capacity Expansion: Over the past ten years, India has demonstrated the highest average annual growth rate in airline seat capacity globally, at 6.9%. This growth has catapulted India’s domestic airline capacity to approximately 15.6 million seats as of April 2024, surpassing both Brazil and Indonesia
Important days
International Widows’ Day 2024, Date, History and Significance
The United Nations observes International Widows’ Day on June 23rd each year. This day aims to:
- Draw attention to widows’ voices and experiences
- Generate support for their unique needs
- Promote action towards achieving full rights and recognition
The Hidden Struggle of Widows Worldwide
For millions of women around the world, losing a partner is just the beginning of a long battle for basic rights and dignity. Despite there being over 258 million widows globally, their experiences have often been overlooked and their needs unmet.
United Nations Public Service Day 2024, Theme and Significance
On June 23, 2024, United Nations Public Service Day is observed as a national day by the United Nations. Celebrated annually on June 23, this day honors the importance and virtue of public service to the community. It emphasizes the role of public service in the development process, acknowledges the work of public servants, and encourages young people to consider careers in the public sector
United Nations Public Service Day 2024: History
Date and Purpose:
- Celebration: Annually on June 23rd.
- Objective: To highlight the importance of public service, recognize the dedication of public servants, and inspire youth to consider careers in the public sector.
Establishment:
- Resolution: Adopted by the United Nations General Assembly on December 20, 2002, through resolution 57/277.
- Designation: June 23rd was officially designated as United Nations Public Service Day.
Activities and Events:
- Host Country: Each year, a different host country is selected to showcase its efforts in enhancing government institutions and administrative systems.
- Events: Include various activities to honor public officials, discussions, and forums for sharing strategies, innovative ideas, and exploring transformations.
- Participants: Leaders, government officials, policymakers, and international organizations gather to discuss sustainable development goals and best practices.