National news
NSDC and ILO Sign MoU to Enhance Skill Development and Lifelong Learning in India and Globally
The National Skill Development Corporation (NSDC) under the Ministry of Skill Development and Entrepreneurship (MSDE) has signed an Memorandum of understanding (MoU) with the International Labour Organization (ILO) to advance skill development and lifelong learning in India and globally.
Signatories:
- The MoU was signed by Ved Mani Tiwari, Chief Executive Officer (CEO) of NSDC and Managing Director (MD) of NSDC International, and Sangheon Lee, Director of the Employment Policy, Job Creation and Livelihoods Department at ILO.
- Atul Kumar Tiwari, Secretary, MSDE, and other officials of the Ministry were present during the event.
Ministry of Skill Development and Entrepreneurship: Officeholder: Dharmendra Pradhan (Union Minister)
International Labour Organisation:
- Headquarters: Geneva, Switzerland
- Founded: 1919
- Head: Gilbert F. Houngbo
International news
India Pledges USD 1 Million Immediate Relief Aid for Landslide-Hit Papua New Guinea
- GoI Announces USD 1 Million Immediate Relief Aid for Landslide-Hit Papua New Guinea The Government of India (GOI) through the Forum for India-Pacific Islands Cooperation (FIPIC), announced a relief assistance of USD 1 million for Papua New Guinea (PNG) following a massive landslide that occurred on 24 May 2024 in Enga Province, PNG that buried over 2,000 people.
- As committed to Humanitarian Assistance and Disaster Relief (HADR), India’s immediate relief assistance aims to support relief, rehabilitation, and reconstruction efforts.
Papua New Guinea:
- Capital: Port Moresby
- Currency: Papua New Guinean Kina
- Prime minister: James Marape
Dr. Emmanuelle Soubeyran Elected as WOAH Director General During 100th Anniversary Session
- The World Organisation for Animal Health (WOAH) has elected Dr.Emmanuelle Soubeyran, head of France’s veterinary services, as its 8th Director General (DG) for a 5-year term (2024-2029) during its 91st annual general session, which marks the 100th anniversary of WOAH.
- The 91st annual general session of WOAH was held from 26th to 30th May 2024 in Paris, France.
- Emmanuelle Soubeyran succeeded Dr Monique Eloit, who completed her eight – year tenure from 2016 to 2024 at WOAH.
World Organisation for Animal Health (WOAH)
- Headquarters: Paris, France
- Founded: 1924
- Founder: Emmanuel Leclainche
Banking news
RBI launches PRAVAH Portal and mobile app for G secs trading
The Reserve Bank of India (RBI) launched three major initiatives on 28 May 2024: the PRAVAH portal, a mobile app for retail investors to trade in government securities, and a Fintech Repository. These three initiatives were launched by the RBI governor, Shaktikanta Das, in Mumbai, Maharashtra.
About the PRAVAH Portal
- The PRAVAAH (Platform for Regulatory Application, Validation and Authorisations) is a centralised web-based portal that provides a secure platform for individuals or entities to seek authorisation, license, or regulatory approval from the Reserve Bank.
- An individual or entity can submit 60 application forms covering different regulatory and supervisory departments of the RBI online.
- Applicants can also track their applications online, monitor their status, and receive a decision from the RBI in a time-bound manner.
Mobile App for Individual investors for trading in Govt securities
- The RBI Governor launched a mobile app for retail investors to trade in government securities (g-secs).
- Investors can open a Retail Direct Gilt (RDG) account with the RBI to use this service.
- Since 2021, retail investors can invest in government securities in primary and secondary markets.
- Minimum investment in the primary market is Rs 10,000, with increments of Rs 10,000, in Central Government Securities, State Government Securities, and Treasury Bills (T-Bills).
- Government securities, issued by the RBI for the government of India, are debt instruments.
- T-Bills have a duration of less than one year, while dated securities have a duration of one year or more.
- State governments issue State Development Loans, which are dated securities.
- The initiative aims to increase retail investor participation in government debt markets, enhancing financial inclusion and investment opportunities.
Fintech Repository
- The Fintech Repository will be a storehouse of data on Indian Fintech companies. It will keep essential information about the regulated and unregulated FinTech entities, their activities, technology uses, etc.
- A separate EmTech Repositories is being launched for the Fintechs (Banks and NBFC) regulated by RBI. It will keep the information regarding these fintech adoption of emerging technologies (like Artificial Intelligence, Machine Learning, Cloud Computing, Quantum, etc.),
- The FinTech and EmTech Repositories are secure web-based applications managed by the Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of RBI.
- Fintech, or financial technology, refers to companies that use digital technology to improve the delivery of financial services such as banking, insurance, pensions, etc.
RBI:
- The Reserve Bank of India is a statutory body established under the Reserve Bank of India Act 1934. It started functioning on 1 April 1935.
- It is the apex monetary and regulatory body in India.
- It regulates the banking sector in India, issues currency notes, and is the custodian of the country’s foreign exchange.
- Headquarters: Mumbai
- Governor: Shaktikanta Das
Introducing the Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card: No Fees, High Rewards, and Exclusive Benefits
- Poonawalla Fincorp Limited, a Cyrus Poonawalla group Non-Banking Finance Company (NBFC) in collaboration with IndusInd Bank, launched the co-branded, Poonawalla Fincorp IndusInd Bank eLITE RuPay Credit Card, to redefine and elevate the banking experience of customers by offering various rewards and benefits.
Note: Poonawalla Fincorp Ltd. is only involved in the marketing and distribution of this co- branded credit card under a revenue-sharing arrangement with IndusInd Bank.
Key Features:
- Fees: No joining or annual fee.
- Rewards: Earn rewards for every Rs 100 spent (except fuel), including Unified Payments Interface (UPI) transactions.
- Enhanced Points: 2.5 times reward points on e-commerce purchases.
- Point of Sale (POS) Transactions: Reward Points earned value (Rs 5,000 spends every month)
- Cash Credit: A higher value of Rs 0.40 per reward point.
About IndusInd Bank Ltd:
- Managing Director (MD) & Chief Executive Officer (CEO)- Sumant Kathpalia Headquarters- Mumbai, Maharashtra
- Established in 1994
- Tagline- We Care Dil Se; We Make You Feel Richer
Science And Tech
TCS and IIT-Bombay Collaborate to Develop India’s First Quantum Diamond Microchip Imager
- TCS & IIT-Bombay Partnered to Develop India’s 1st Quantum Diamond Microchip Imager
- This advanced sensing tool will enhance precision in semiconductor chip examination, reduce chip failures, and improve the energy efficiency of electronic devices.
- This project is aligned with the Government of India’s (GoI) National Quantum Mission, an initiative to position India as a leader in global quantum technology.
- Over the next 2 years, experts from TCS will work with Dr. Kasturi Saha, Associate Professor in the Department of Electrical Engineering of IIT-Bombay, to develop the quantum imaging platform in the PQuest Lab.
Ranks and reports
Anish Kapoor Tops Hurun India Art List 2024 for the 6th Consecutive Year
- According to the 6th edition of Hurun India Art List (2024) released by Hurun Research Institute on 28th May 2024, British Indian sculptor Anish Kapoor topped the list for the 6th consecutive year.
- He topped the list due to the robust sales of his artwork at public auctions, which amounted to Rs 79.9 crore.
- Arpita Singh, 87 year old (ranked 3rd ) topped among the female artists
- Raghav Babbar(27) from Rohtak, Haryana, ranked at 8th spot, is the youngest Indian artist in the Hurun India Artist List 2024 with total sales of Rs 12.1 crore.
- Krishen Khanna (99) is the oldest Indian artist in the list, ranked 5th with combined value of his art work Rs 18 crore. This showed an increase of 32% compared to previous year.
About Hurun Report Inc. (Hurun Report):
- It is a leading research, luxury publishing and events group established in 1998 in London (UK). Hurun India was launched in 2012.
- Managing Director(MD) and Chief Researcher- Anas Rahman Junaid
- Headquarters (Hurun India)- Mumbai, Maharashtra
Award news
REC wins Award at Outlook Planet Sustainability Summit & Awards 2024
- REC Limited won the “ Sustainability Champion—Editor’s Choice Award”, while the Power Finance Corporation (PFC) Limited won the Corporate Social Responsibility award in the Non-Fossil Fuel sub-category at the Outlook Planet Sustainability Summit and Awards 2024 for Central Public Sector Enterprises (CPSEs).
- Central Public Sector Enterprises are those companies which are owned by the government of India.
Outlook Planet Sustainability Summit & Awards 2024
Goa hosted the first Outlook Planet Sustainability Summit & Awards 2024 for Central Public Sector Enterprises (CPSEs) on 27 May 2028. It was organised by the Outlook Media Group, BDO India as the Awards Process Advisor and IIT Goa as the Knowledge Partner. The event provided an opportunity for the top policymakers and the top management of the Central Public Sector Enterprises to discuss the initiatives taken by them in sustainability.
Award Category and their Winners
- The Awards were given in four categories -Sustainable Governance Champion, Corporate Responsibility Champion, Circularity Champion and Climate Action Champion.
- Within each category were sub-categories: fossil fuels, non-fossil fuels, and Jury Special Recognition.
Sustainable Governance Champion
- Coal India Limited in Fossil Fuel
- NHPC Limited in non-fossil fuels and
- Garden Reach Shipbuilders & Engineers Limited in the Jury Special Recognition Award sub category.
Corporate Responsibility Champion.
- GAIL (India) Limited in the fossil fuel,
- Power Finance Corporation Limited in non-fossil fuel and
- NLC India Limited is in the Jury Special Recognition sub-category.
Circularity Champion
- Bharat Petroleum Corporation Limited in the fossil fuel,
- Steel Authority of India Limited in non-fossil fuel and
- Indian Oil Corporation Limited in the Jury Special Recognition sub category.
Climate Action Champion
- NTPC Limited in the fossil fuel,
- Bharat Electronics Limited in the non-fossil and
- Mangalore Refinery & Petrochemicals Limited in the Jury Special Recognition sub categories.
2023 UN Military Gender Advocate of Year Award for Major Radhika Sen
- The United Nations has selected the Indian Army Major Radhika Sen for the prestigious 2023 Military Gender Advocate of the Year award. The award will be conferred to Major Radhika Sen by the United Nations Secretary General Antonio Guterres on the occasion of the International Day of the UN Peacekeepers. The International Day of the UN Peacekeepers is observed on 29 May every year since 2003.
About the Military Gender Advocate of the Year Award
- The United Nations Military Gender Advocate of the Year Award was established by the Office of Military Affairs within the Department for Peace Operations in 2016.
- The award recognizes a UN peacekeeper who has effectively integrated a gender perspective into peacekeeping activities.
- It honors efforts that promote the principles of the 2000 UN Security Council resolution, which calls for the protection of women and children from sexual violence in conflict zones and outlines gender-related responsibilities for the UN.
- The awardee is chosen from candidates nominated by UN Force Commanders and Heads of Mission from all UN-mandated peace operations.
Second Indian to win the UN Military Gender Advocate of the Year Award
- Major Radhika Sen becomes the second Indian to be awarded the United Nations Military Gender Advocate of the Year Award.
- Major Suman Gawani was the first Indian to be honoured with the UN Military Gender Advocate of the Year Award in 2019. Major Suman Gawani was deployed with the United Nations Mission in the Republic of South Sudan (UNMISS).
United nation:
- Founded: 24 October 1945, San Francisco, California, United States
- Headquarters: New York, New York, United States
- Head: António Guterres
Sports news
India bags seven medals at the Asian Arm-wrestling Championship 2024
The Indian Armwrestlers performed creditably in the recently concluded Asian Arm-wrestling Championship by winning seven medals-one gold and six bronze. The Asian Arm-wrestling Championship was held in Tashkent, Uzbekistan.
- Shrimat Jha was the leading performer for India. He won the sole gold medal for India in the left-hand para category. He later added another bronze medal to his tally in the right-hand para category.
- Laxaman Singh Bhandari also won two bronze medals in the Master category.
- Pro- Panja league, Baroda Badshah franchise star player Sachin Goyal won the bronze medal in the right-hand Senior category
- In the women’s section, Ibi Lollenfrom Arunachal Pradesh won two medals. She won the bronze medal in the women’s right-hand category and another bronze medal in the left-hand category.
- Preeti Jhangiani, president of the People’s Arm-wrestling Federation India (PAFI), appreciated and expressed her support for the Indian Armwrestlers’ success at the Asian Championship 2024.
People’s Armwrestling Federation India
- People’s Armwrestling Federation India is India’s governing body of arm wrestling sport. It is affiliated with the Asian Armwrestling Federation (AAF) and the World Armwrestling Federation (WAF).
- It works to promote amateur and professional Arm wrestling across the country with the help of state units.
- President: Priti Jhangiani
- Headquarters: Mumbai, Maharashtra
Praggnanandhaa Topples World No. 1 Magnus Carlsen for First Time In Classical Event At Norway Chess 2024
- In Chess, Praggnanandhaa toppled Magnus Carlsen for the first time in a Classical event. The 18-year-old Indian prodigy took down the World No. 1 with the White pieces in the 3rd round of Norway Chess 2024.
- Praggnanandhaa got an early edge out of the opening and eventually converted it into a victory. With this win, Pragg now takes the sole lead with 5.5 points in the event.
Defence news
DRDO Successfully Flight-Tested RudraM-II Air-To-Surface Missile from Su-30 MK-I Platform of IAF
- DRDO successfully flight-tested the RudraM-II air-to-surface missile. Test conducted from Su-30 MK-I platform of the Indian Air Force in Odisha
- Outcome: The flight test met all trial objectives.
- Missile Details:
o RudraM-II is an indigenously-developed missile system.
o It uses solid propulsion.
o Incorporates state-of-the-art technologies developed by DRDO laboratories.
- Acknowledgements:
- Defence Minister Rajnath Singh congratulated DRDO, IAF, and the industry.
- Highlighted RudraM-II as a force multiplier for the Armed Forces.
- DRDO Chairman Dr. Samir V Kamat praised the DRDO team’s efforts leading to the successful test.
DRDO:
· Headquarters: New delhi
· Founded: 1958
· DRDO Chairman Dr. Samir V Kamat
Important days
International Day of the UN Peacekeepers 2024: Theme and Background
- International Day of the UN Peacekeepers: Observed annually on 29 May. Acknowledges the service and sacrifice of over 4000 peacekeepers who have died in conflict zones Encourages global support for the peace movement.
Background:
- Established by a UN General Assembly resolution in December 2002.
- 29 May was chosen as it marks the authorization of the first UN peacekeeping operation in 1948.
- The first UN peacekeeping operation, UNTSO, monitored the ceasefire between Israel and its Arab neighbors.
- The first observance was on 29 May 2003.
Theme for 2024: “Fit for the future, building better together.”
World Digestive Health Day 2024: “Your Digestive Health: Make It A Priority”
- World Digestive Health Day (WDHD) is a public advocacy and awareness campaign, annually observed across the globe on 29 May to raise awareness of the prevention, prevalence, diagnosis, management, and treatment of digestive diseases or disorders worldwide.
- WDHD also highlights ways to mitigate the risk of Gastrointestinal (GI) disorders and associated complications.
- The 2024 theme of WDHD is, “Your Digestive Health: Make It A Priority”.
- WDHD is annually organised by the World Gastroenterology Organisation (WGO) and 29 May 2024 marks the 66th anniversary of the foundation of WGO.
