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NATIONAL AFFAIRS
GoI Introduced Rules for Offshore Minerals Ahead of the Auctions
On 6th June 2024, Government of India(GoI) introduced “Offshore Areas (Existence of Mineral Resources) Rules, 2024”, a comprehensive regulatory framework which outlines exploration standards to ensure precise assessment and sustainable development of offshore mineral resources.
- The rules were issued by the GoI in exercise of the powers conferred by section 35 of the Offshore Areas Mineral (Development and Regulation) (OAMDR) Act, 2002 (17 of 2003).
- The new regulations lays down specific exploration rules for different types of deposits and minerals, including construction-grade silica sand, non-construction –grade calcareous sand, calcareous mud, phosphatic sediments, Rare Earth Element (REE) minerals, hydrothermal minerals and nodules, among others.
About Ministry of Mines:
Union Minister- G.Kishan Reddy (Constituency- Secunderabad, Telangana)
Minister of State (MoS) – Satish Chandra Dubey (Rajya Sabha- Bihar)
>> Read Full News
India & Gambia Signed Extension of MoU on Governance Reforms for 5 Years
The Department of Administrative Reforms and Public Grievances(DARPG), Ministry of Personnel, Public Grievances and Pensions(MoPPGP), Government of India and Public Service Commission(PSC), Office of the President, the Republic of the Gambia signed extension of the existing Memorandum of Understanding (MoU) on ‘Refurbishing Personnel Administration and Governance Reforms’ for another 5 years with effect from (w.e.f) 8th July 2024.
Note: The existing MoU was signed on 8th July 2021 for a period of 3 years.
Signatories: The MoU was signed by V. Srinivas, Secretary, DARPG and Mustapha Jawara, Ambassador of Gambia to India on behalf of Public Service Commission, Gambia at ceremony held in Civil Services Officer’ Institute (CSOI), New Delhi, Delhi.
About the MoU:
i.The main objective of the MoU is to strengthen and promote bilateral cooperation between India and Gambia in Personnel Administration and Governance Reforms.
- It includes sharing of their best practices focused primarily on administrative reforms, good governance webinars, research publications, capacity building programs etc.
ii.The areas of cooperation covered under the MoU are: Improving Performance Management System in Government, Implementation of contributory Pension Scheme and E-recruitment in Government.
iii.Under this MoU, a Joint Working Group on Public Administration and Governance Reforms will be established to create a roadmap for the bilateral collaboration.
Key People: Babucarr Suwareh, Chairman, Public Service Commission of the Gambia, Dinkar Asthana, Ambassador of India to Senegal concurrently accredited as High Commissioner of India to the Gambia, Puneet Yadav, Joint Secretary, DARPG, among others were preset during the event. .
About Gambia:
President- Adama Barrow
Capital- Banjul
Currency- Gambian Dalasi (GMD)
Army Hospital (R&R), Delhi Launches First-of-its-Kind Skin Bank Facility for Armed Forces
The Army Hospital, Research & Referral (R&R), New Delhi (Delhi) opened a state-of-the-art skin bank facility, a first-of-its-kind to be established within the Armed Forces Medical Services (AFMS).
- This initiative is dedicated to managing and treating soldiers suffering from combat-related burn cases and other skin-related conditions among military personnel and their families.
- New Delhi-based premier AIIMS Burns Block and Safdarjung Hospital have both opened it’s skin banks in 2023.
Key Features of the Skin Bank:
i.A centralised hub for the collection, processing, storage, and distribution of skin grafts.
ii.Enhances treatment options for military medical centers nationwide.
iii.Staff includes plastic surgeons, tissue engineers, and specialised technicians.
iv.The facility adheres to rigorous standards ensuring the safety and efficacy of skin grafts.
INTERNATIONAL AFFAIRS
SIPRI Report: India Possesses 172 Warheads; More Nuclear Weapons than Pakistan
According to the Sweden-based Stockholm International Peace Research Institute (SIPRI)’s annual assessment of the state of armaments, disarmament and international security, India’s nuclear weaponry has grown from 164 warheads in January 2023 to 172 warheads in January 2024.
- India now holds more nuclear weapons than Pakistan, which has recorded no increase in the number of warheads(170 in 2023 and 2024) said in 55th SIPRI Yearbook(2024).
ICAN Report: Global nuclear spending rose by 13%; USA tops
According to the International Campaign to Abolish Nuclear Weapons (ICAN) report, Global spending on nuclear weapons is estimated to have increased by 13%, to a record USD 91.4 billion during 2023. this is USD 10.7 billion higher than the global spending during 2022.
- The global spending of USD 91.4 billion is equivalent to USD 2,898 per second.
- The USA accounted for 80% of the increased investment in nuclear weapons, with a spending of USD 51.5 billion.
About Stockholm International Peace Research Institute (SIPRI):
SIPRI is an independent international institute that focuses on research into conflict, armaments, arms control and disarmament.
Director– Dan Smith
Headquarters– Solna, Stockholm, Sweden
Established– 1966
>> Read Full News
World Falling Behind on Environment, Health, and Hunger SDGs: UN’s Sustainable Development Report (SDR)
According to the 9th edition of the “Sustainable Development Report (SDR)” released by the UN Sustainable Development Solutions Network (SDSN), the world is significantly behind schedule in achieving the Sustainable Development Goals (SDGs) set by the United Nations (UN) in 2015, such as poverty reduction, hunger eradication, and environment protection.
- As per the SDR 2024 report, none of the 17 SDGs are on track to be achieved by 2030.
Key Points:
i.The report highlighted that globally, on an average only 16% of the SDG targets are on track to achieved by 2030. While, remaining 84% of the SDG targets showed a reversal of progress.
ii.The report noted that at the global level, SDG progress has been stagnant since 2020, particularly some SDG targets are off-track such as: Zero Hunger (SDG 2), Sustainable Cities and Communities (SDG 11), Life Below Water (SDG 14), Life on Land (SDG 15) and Peace, Justice, and Strong Institutions (SDG 16).
- The report cited COVID-19 pandemic has further augmented the existing challenges particularly, impacting life expectancy (SDG 3).
About UN Sustainable Development Solutions Network (SDSN):
The SDSN is a non-profit created in 2012 by the UN to promote the 17 SDGs at national and international levels. The Secretariat of the SDSN is located in Paris, France; Kuala Lumpur, Malaysia; and New York, USA.
President- Jeffrey Sachs
>> Read Full News
ECONOMY & BUSINESS
Wärtsilä Launches World First Large-Scale 100% Hydrogen-Ready Engine Power Plant
Wärtsilä Oyj Abp, Finland based company has launched the world’s first large-scale 100% hydrogen-ready engine power plant to enable the net-zero power systems.
- The Wärtsilä 31 is an efficient medium-speed 4-stroke marine engine, which synchronises with the grid within 30 seconds from start command, ensures energy security through fuel flexibility and offers unparalleled load following capabilities and high part load efficiency
- It can run on natural gas, 25% hydrogen (H2) by volume blends and has completed more than 1 million running hours, with over 1,000 MegaWatt (MW) installed capacity globally.
- The hydrogen-ready engine power plant concept has been certified by (Technischer Überwachungsverein – Technical Inspection Association) TÜV SÜD.
- The H2-Readiness certification consists of three stages with three corresponding certificates. Wärtsilä has achieved the first stage with a Concept Certificate for the conceptual design of its engine power plant.
Note: The 100% hydrogen-ready engine is expected to be available for orders in 2025, and available for delivery from 2026.
AWARDS & RECOGNITIONS
Virat Kohli Tops Kroll’s 2023 Celebrity Brand Valuation Report with USD 228 Million
According to Kroll’s Celebrity Brand Valuation Report 2023: Brands, Business, Bollywood, Former Indian Cricketer team Captain Virat Kohli has reclaimed the top spot as India’s most valued celebrity with a brand value of USD 227.9 million, USD 51 million(mn) higher than 2022.
- Bollywood Actor Ranveer Singh, who topped the 2022 list, dropped to the 2nd position with a brand value of USD 203.1 million.
- Shah Rukh Khan(3rd), Akshay Kumar(4th) and Alia Bhatt (5th) are among the top 5.
- This is the 9th edition of Kroll’s celebrity brand valuation report.
Note: Brand value of Virat Kohli and Ranveer Singh have surpassed the USD 200 million mark for the 1st time.
About Kroll:
Kroll is leading independent provider of risk and financial advisory solutions, established as Duff and Phelps in 1932. Later, renamed as Kroll in 2021-2022.
Chief Executive Officer– Jacob Silverman
Headquarters- New York, the United States of America (USA)
>> Read Full News
Central Banking Awards 2024: RBI Wins ‘Risk Manager of the Year’ Award
The Reserve Bank of India (RBI) won the ‘Risk Manager of the Year Award (2024)’ at the Central Banking Awards 2024, the 11th edition of the annual awards, presented by the Central Banking Publications, a London(the United Kingdom-UK) based financial publisher owned by Infopro Digital.
- Manoranjan Mishra, RBI’s Executive Director received the award on behalf of the RBI during award ceremony held in London, UK.
- Mumbai (Maharashtra) based IRIS Business Services Limited has also won the prestigious ‘Global Central Banking Award 2024’ for Technology Services in London.
Note: Previously, Shaktikanta Das, Governor, RBI had received the ‘Governor of the Year’ award in 2023.
RBI – Risk Manager:
i.The award honours RBI’s significant progress in enhancing its risk culture and awareness, cementing its crucial role in maintaining the stability of India’s financial system.
ii.The RBI established a regulatory sandbox to facilitate controlled experimentation with new financial technology products and services allowing the fintech companies to test their innovations in a limited environment. This enables RBI to assess potential risks before widespread adoption.
Additional info: In June 2024, RBI amended the Foreign Exchange Management (Overseas Investment) Directions, 2022 to relax overseas investment regulations and clarify the ambiguities for wealthy Indians, business families, and startups seeking to invest in foreign securities, funds, and companies.
The Central Banking Awards 2024:
i.It recognises excellence in a sector navigating complex challenges including inflation, technology shifts, and environmental transitions.
ii.The Central Banking Awards 2024 includes 13 central bank categories and 12 partner and service provider categories.
iii.The first edition of the Central Banking Awards were presented in 2014.
Note: The Risk Manager Award acknowledges central banks excelling in risk management, where qualitative and quantitative risk assessments are made across diverse areas throughout the organisation.
Winners of 2024:
i.Central bank of the year: Central Bank of Brazil
ii.Governor of the year: Andriy Pyshnyy, Governor of National Bank of Ukraine
Click here for the complete list of 2024 winners.
About Central Banking Publications:
Central Banking Publications was founded in 1990 and acquired by Infopro Digital in 2017.
Founder and Chairman– Robert Pringle
Headquarters– London, the United Kingdom(UK)
Globally Acclaimed Filmmaker Vinod Ganatra Becomes 1st Indian to Receive ‘Nelson Mandela Lifetime Achievement Award’ of South Africa
Vinod Ganatra, a globally renowned filmmaker and editor from Gujarat, now based in Mumbai, Maharashtra has become the 1st Indian to be honoured with the ‘Nelson Mandela Lifetime Achievement Award‘ of South Africa for his contribution to films.
- He was conferred with the award at the 7th Nelson Mandela Children’s Film Festival in Johannesburg, South Africa for his outstanding contribution to children’s cinema.
Note: 18 July is observed as Nelson Mandela International Day.
About Vinod Ganatra:
i.Vinod Ganatra has been active in Film and Television Production since 1982. He directed his debut feature film Heda-Hoda (The Blind Camel).
ii.He has edited and directed over 400 Documentaries and News Reels and produced about 25 TV Programmes for Children & Youth.
iii.He has made 3 Children’s Films for the Children’s Film Society India (CFSI) and these films have won 23 International Awards.
iv.He served on the jury of over 100 national, regional, and international film festivals for about 3 decades.
v.He served as an Honorary Secretary, a Vice President, and a President of the Indian Documentary Producer Association(IDPA).
vi.He served as one of the Directors of the International Centre of Films for Children & Young People (CIFEJ) from 2014 to 2016.
vii.He also served as Chairman of the Non-Feature Jury at the National Awards 2016 and on the Final Jury of the Marathi Film Awards 2016 by the Government of Maharashtra.
Awards/Recognitions:
Ganatra has bagged about 36 national and international awards that include the following:
i.He is the only Indian recipient of The Liv Ullmann Peace Prize, Chicago, for his Gujarati film, ‘Harun-Arun’ at the 26th Chicago International Children’s Film Festival.
ii.He received the Dada Saheb Phalke-Lifetime Achievement Award from the Association of Film & Video Editors.
iii.He received the ‘Janakinath Gaur Award’ for his 1st children’s TV programme, ‘Baingan Raja’ from Doordarshan.
- His 1st TV programme Baingan Raja was telecast 17 times.
iv.In 2010, he won the Best Juvenile Audience Award at the Dhaka International Film Festival; and the Light of Asia Award in Sri Lanka.
v.His film, Hide-N-Seek (Lukka Chhuppi) is listed in the Limca Book of World Records as 1st Children’s Feature Film Fully Shot at the highest altitude at Ladakh in the Himalayas.
vi.In 2011, he won the Golden Butterfly Award for Harun-Arun as Best Asian Film at the Isfahan International Film Festival, in Iran.
APPOINTMENTS & RESIGNATIONS
Ajith Kumar KK Named as MD & CEO of Dhanlaxmi Bank For 3 Year Tenure
Reserve Bank of India (RBI) has approved the appointment of Ajith Kumar KK as the Managing Director (MD) and Chief Executive Officer (CEO) of Dhanlaxmi Bank Limited for a three-year tenure with effect from 20th June 2024.
- He succeeds J.K Shivan, whose has been serving as the MD & CEO of the Dhanlaxmi Bank since 2021.
- He is currently serving as the Chief Human Resources Officer(CHRO) at Federal Bank Limited in the cadre of president.
Note: Dhanlaxmi bank will seek shareholder’s approval for his appointment within the prescribed time period in compliance with the applicable provisions of the Companies Act, 2013 and Securities and Exchange Board of India (SEBI) regulations.
Key Points:
i.J.K Shivan’s tenure as MD & CEO was scheduled to conclude on 29th January 2024.
ii.In January 2024, RBI approved the extension of Shivan’s tenure as MD & CEO of Dhanlaxmi Bank until a suitable successor was appointed.
About Ajith Kumar KK:
i.Ajith Kumar KK is a seasoned banker with over 36 years of experience with the Federal Bank Limited in various areas of banking such as Credit, Human Resources, Business Development, and Branch Banking.
ii.He joined the Federal Bank Limited as a Probationary Agricultural Officer in 1987.
iii.He was appointed as the Additional Director of Federal Operations and Services Limited, a wholly-owned subsidiary of Federal Bank Limited in 2019.
iv.He also served as the Non-Executive Director of Federal Operations and Services Limited.
About Dhanlaxmi Bank Limited:
MD & CEO– Ajith Kumar KK
Headquarters – Thrissur, Kerala
Incorporated- 1927
SCIENCE & TECHNOLOGY
Sankara Eye Foundation India Launches First-of-its-Kind Innovation Lab for Eye Care in India
Sankara Eye Foundation India has launched the first-of-its-kind Innovation Lab for eye care in India, which was supported by Gopalaswamy Doraiswamy Naidu Charities, focussing on leading cutting-edge research, development and advancement of eye care.
i.The Research and Development(R & D) centre aims to provide high-quality eye care solutions to underserved populations in India, reaching the most remote rural villages with innovative approaches to diagnosis, treatment and prevention.
ii.It focuses on design and development of new devices, Artificial intelligence (AI) – augmented electronic medical records, clinical trials and comprehensive training programmes.
iii.The Innovation Lab is equipped with state-of-the-art facilities, including simulation laboratories, surgical training suites, and tele-ophthalmology training areas.
iv.The centre will also conduct clinical trials approved by Central Drugs Standard Control Organization (CDSCO)/Drug Controller General of India (DCGI) for regulatory compliance, with a dedicated team of clinical research coordinators to ensure standards are met.
ENVIRONMENT
Ophichthus Suryai: A New Species of Snake Eel Discovered Off Odisha Coast
Researchers from the Zoological Survey of India’s (ZSI) regional center in Gopalpur, Odisha, have identified a new species of snake eel Ophichthus (Anguilliformes: Ophichthidae) off the Odisha coast.
- The new species is named ‘Ophichthus Suryai‘ to honour Surya Kumar Mohanty, former joint director of Fisheries & Animal Resources Development Department of Odisha government.
- The study was conducted on specimens collected from two different estuaries (Subarnarekha and Bahuda) along the coast and one specimen from coastal fishers of Paradip Fish Landing Centre.
- The findings were published in the Bulletin of Marine Science, by Rosenstiel School of Marine, Atmospheric and Earth Science, University of Miami.
Distinct Features:
i.The new species is distinguished from the other members of its genus by the Dorsal Fin Origin (DFO) just above or slightly anterior to the gill opening.
ii.Unique vertebral count and teeth patterns distinguish it from other species.
Note: The pectoral fin is small, rounded, and white colour, with no dark blotch on the anterior lobe of the dorsal fin.
IMPORTANT DAYS
International Day for the Elimination of Sexual Violence in Conflict 2024- June 19
The United Nations (UN)’s International Day for the Elimination of Sexual Violence in Conflict is annually observed across the globe on 19 June to raise awareness about the need to end Conflict-Related Sexual Violence (CRSV) and honour the victims and survivors of sexual violence globally.
- The day also aims to pay tribute to those who have devoted or lost their lives fighting these crimes.
- The theme of International Day for the Elimination of Sexual Violence in Conflict 2024 is “Attacks against health care in conflict-affected areas: Impacts for survivors of conflict-related sexual violence”.
Background:
i.On 19th June 2015, the United Nations General Assembly (UNGA) adopted the resolution A/RES/69/293, proclaiming 19 June of each year the International Day for the Elimination of Sexual Violence in Conflict.
ii.The first-ever International Day for the Elimination of Sexual Violence in Conflict was observed on 19th June 2016.
iii.The date 19th June was chosen to commemorate the adoption the Security Council resolution 1820 (2008) on 19 June 2008, condemning sexual violence as a war tactic and a peacebuilding impediment.
>> Read Full News
World Sickle Cell Day – June 19 2024
World Sickle Cell Day also known as World Sickle Cell Awareness Day is annually observed across the globe on June 19 to raise awareness and recognize sickle cell anaemia as a public health problem and promote education about this genetic condition.
- The theme of World Sickle Cell Day 2024 is ‘Hope Through Progress: Advancing Sickle Cell Care Globally’, announced by the Global Alliance of Sickle Cell Disease Organizations (GASCDO), highlights the importance of advanced technology in identifying Sickle Cell Disease (SCD).
Background:
World Sickle Cell Day was first organised by the United Nations General Assembly (UNGA) in the year 2008 and was first celebrated on 19th June 2009.
About World Health Organization (WHO):
Director-General (DG) – Dr Tedros Adhanom Ghebreyesus
Headquarters – Geneva, Switzerland
>> Read Full News
National Reading Day 2024 – June 19
National Reading Day is annually observed across India on 19 June to mark the death anniversary of Puthuvayil Narayana Panicker (PN Panicker), a renowned teacher and educationist from Kerala, who is widely regarded as the Father of the Library and Literacy Movement in Kerala.
- 19 June 2024 marks the observance of the 29th National Reading Day.
Background:
i.On 19 June 1996, the Government of Kerala and the PN Panicker Foundation started this Day as “Vaayanadinam” or Reading Day in Kerala (state observance) to mark the 1st annual remembrance day of PN Panicker.
ii.In 2017, Prime Minister (PM) Narendra Modi during the launch of the 22nd National Reading/Digital Reading Month, declared 19 June, (Kerela’s Reading Day, and PN Panicker’s death anniversary) as National Reading Day in India.
>> Read Full News
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