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Current Affairs 22 June 2023

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NATIONAL AFFAIRS

India, UNWTO ink pact to Enhance Cooperation in TourismIndia, UNWTO ink pact to enhance cooperationOn 20th June 2023, The Ministry of Tourism, the Government of India and the United Nations World Tourism Organisation (UNWTO) signed a Memorandum of Understanding (MoU) to enhance cooperation and identify areas of mutual interest.

  • It was signed during the 4th and final G20 (Group of Twenty) Tourism Working Group Meeting and G20 Tourism Ministerial Meeting being held from June 19-22, 2023 in Goa.

Signatories:
The MoU was signed by V Vidyavathi, Secretary, Ministry of Tourism, India; and Zurab Pololikashvili, Secretary General, UNWTO.
What is in the MoU?
This MoU envisages the collaboration of both parties on key programmatic areas related to tourism market intelligence, tourism, and rural development, tourism investment, education, and innovation.
Highlights:
i.The 4th Tourism Working Group of G20 has two side events viz. ‘Making Cruise Tourism a Model for Sustainable and Responsible Travel’ and the 2nd was ‘Towards a circular economy of Plastics in Tourism -The global Tourism Plastic initiative’.
ii.During the second side event an MoU was also signed between the Central Nodal Agency, Sustainable Tourism, Responsible Tourism Society of India (RTSOI) and Punjab Tourism Board to collectively unite and address plastic pollution in the tourism sector.
iii.The two key deliverables of the Tourism Working Group were Goa Roadmap for tourism as a vehicle for achieving sustainable development goals and G20 Tourism Ministers’ Declaration.
Key Points:
i.Side events on crucial initiatives of Cruise Tourism, Global Tourism Plastic Initiative and Public Private Sector are also being organized by Ministry of Tourism, India on the side lines of the main Tourism Working Group meeting.
ii.During these events, 15 bilateral meetings are being held between India and various G20 member countries and international organisations.
iii.Under India’s G20 Tourism Track, the Tourism Working Group is working on five inter-connected priority areas, which are Green Tourism, Digitalization, Skills, Tourism MSMEs (Micro, Small & Medium Enterprises), and Destination Management for accelerating the transition of the tourism sector and achieving the targets for 2030 SDGs (Sustainable Development Goals).
Participants:
Union Minister Gangapuram Kishan Reddy, Ministry of Tourism; Minister of State (MoS) Shripad Yesso Naik, Ministry of Tourism; G20 member countries, central government Ministries, various State Governments and International Organizations.
About United Nations World Tourism Organisation (UNWTO):
Secretary-General– Zurab Pololikashvili
Headquarters– Madrid, Spain

Highlights of Defence Minister of Vietnam General Phan Van Giang visit to India Defence Minister of Vietnam General Phan Van Giang visit to India from 18&19 June 2023Minister of National Defence of Vietnam, General Phan Van Giang was on a 2 day visit to India from 18th to 19th June 2023.

  • During his visit, he held bilateral talks with Union Minister of Defence, Rajnath Singh in New Delhi, Delhi.
  • He also made a cultural visit to Agra, Uttar Pradesh(UP).
  • He inspected the Tri-Service Guard of Honour, and laid a wreath and paid homage to the soldiers at the National War Memorial, New Delhi, Delhi.

Bilateral meeting with India’s Defence Minister Rajnath Singh
A bilateral meeting was held between Union Minister Rajanath Singh, India’s Ministry of Defence (MoD), and General Phan Van Giang to enhance India-Vietnam cooperation in defence industries, maritime security and multinational cooperation. Both sides will also exchange views on regional and global issues of mutual interest including the situation in the South China Sea.

  • Chief of Defence Staff General (CDS) Anil Chauhan and other top officials from the Ministry of Defence also attended the meeting.

India gifts indigenously-built missile corvette ‘INS Kirpan‘ to Vietnam
During the meeting, the Indian side gifted an indigenously-built in-service missile corvette INS (Indian Naval Ship) Kirpan to Vietnam to enhance the capabilities of the Vietnam People’s Navy.
India will train Vietnamese personnel in submarine and fighter jet operations, cyber-security and electronic warfare, among other fields.
About INS Kirpan:
i.The Navy commissioned INS Kirpan, a 1,350-tonne Khukri class missile corvette, on January 12, 1991.
ii.It has a length of 91 meters, a beam of 11 meters, and can reach speeds exceeding 25 knots.
iii.It is equipped with a medium-range gun, 30 mm close-range guns, chaff launchers, and surface-to-surface missiles, the ship is versatile and capable of various roles such as coastal and offshore patrol, coastal security, surface warfare, anti-piracy, and Humanitarian Assistance and Disaster Relief (HADR) operations.
Key Points:
i.General Phan Van Giang and his delegation to India also paid a courtesy visit to Indian President Droupadi Murmu at the Rashtrapati Bhavan on 19th June 2023.
ii.He also visited Defence Research and Development Organisation (DRDO) headquarters in New Delhi(Delhi) to enhance defence industrial capabilities through cooperation in defence research and joint production.
ii.India and Vietnam share a Comprehensive Strategic Partnership.

Note: in June 2022, During Defence Minister Rajnath Singh’s visit to Vietnam, the two nations signed a ‘Joint Vision Statement on India-Vietnam Defence Partnership towards 2030’ and a Memorandum of Understanding (MoU) on ‘Mutual Logistics Support’.

GoI withdraws draft Live-stock and Live-stock Products  [Importation and Exportation] Bill, 2023Government withdraws the draft Live-stock and Live-stock ProductsOn 20th June 2023, the Government of India(GoI) withdrew the draft of the Live-stock and Live-stock Products [Importation and Exportation] Bill, 2023, based on the objections from the section of the people including animal activists and religious groups.

  • This Bill was “re-enactment” of the present Live-stock importation Act (1898), and Live-stock Importation (Amendment) Act of 2001.

Background:
i.On 7th June 2023, the Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D) released the draft bill and invited suggestions and objections up to 17th June 2023.
ii.Animal activists opposed the move to include canines and felines in the list of livestock.
iii.The section of the public also concerned that the implementation of the bill will result in reduction of the livestock population in India.
About the Bill:
 i.The bill was aimed at framing measures for the regulation of the importation of livestock and livestock products as well as promotion and development of exports of livestock and livestock products.
ii. According to the bill, definition of live-stock includes all equines (donkeys, horses, mules, assess, hinnies), bovines (cattle, buffaloes, bullocks), caprines, ovines, swines, canines, felines, avian, laboratory animals, aquatic animals and except those prohibited in any other act.

  • This draft bill also includes any other animal which may be specified by the Central Government later.

UNDP partnered with DAY-NULM to empower women entrepreneurs UNDP partners with DAY-NULM towards empowering women entrepreneursOn 20th June, 2023, the United Nations Development Programme (UNDP) partnered with the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) to empower women to make well-informed career choices in the field of entrepreneurship.

  • The partnership will provide support for women looking to start and expand their own enterprises in sectors such as care economy, digital economy, electric mobility, waste management, food packaging and more.
  • Under the partnership, the 3-year project which is extendable beyond 2025 will cover 8 cities in the initial phase focused on promoting entrepreneurship development and accelerating enterprise growth.

Key People:
Rahul Kapoor, Joint Secretary and Mission Director, DAY-NULM & PM SVANidhi (PM Street Vendor’s AtmaNirbhar Nidhi), Ministry of Housing and Urban Affairs (MoHUA), Government of India and Shoko Noda, Resident Representative, UNDP India took part in signing the partnership.
Key Points:
i. UNDP and DAY-NULM will collaborate on piloting innovative solutions, particularly in the care economy domain by drawing on their extensive sectoral expertise.
ii. UNDP and DAY-NULM will jointly engage in on-ground mobilisation activities that involve identifying pockets of urban poverty and potential entrepreneurs, as well as facilitating access to Business Development Services.

  • Handholding support will be provided to the unit to formalise their businesses, establish bank linkages, secure access to finance and markets.

iii. As currently women account for only 15% of the total entrepreneurs in India, UNDP will offer national-level capacity building support to DAY-NULM by leveraging its experience in linking over 2,00,000 women to better employment opportunities.

  • This support will focus on knowledge generation and management, such as compiling collections of best practices related to urban poverty, to enhance the implementation of national-level schemes.

iv. UNDP will also contribute to the initiative by developing community business mentors called Biz-Sakhis in selected project locations.

  • These mentors, who possess valuable business knowledge, can support new and existing enterprises, and serve as a resource for DAY-NULM at a later stage.

v. The DAY-NULM has an aim to uplift the urban poor by enhancing sustainable livelihood opportunities through skill development. The scheme extends its coverage to all the 4,041 statutory cities and towns, thereby covering most of India’s urban population.
vi. DAY-NULM has mobilised more than 8.4 million urban poor women across India through its outreach efforts, forming over 8,31,000 Self-Help Groups (SHGs) in over 4,000 towns.
vii. Their impressive grassroots initiatives facilitate economic empowerment and amplifies the voices of marginalised sections of the urban population, including Scheduled Castes (SCs)/Scheduled Tribes (STs), minorities, female-headed households, street vendors, and rag pickers.
About United Nations Development Programme (UNDP):
Establishment –  1965
Administrator- Achim Steiner
Headquarters- New York, the United States of America

Indian Army conducted Exercise Agneyastra 1 in eastern LadakhK-9 Artillery Guns, UAVs And Anti-Tank MissilesIndian Army’s Northern Command conducted “Exercise Agneyastra 1” on 19th June 2023, in eastern Ladakh to showcase India’s fire power supremacy.
Note: Agneyastra means firearms in Hindi.
About Exercise Agneyastra 1: 
i.Artillery platforms of the Indian army such as the newly-inducted Korean K-9 Vajra-T 155mm/52 calibre self-propelled howitzer (SPH), FH-77 Bofors 155mm/39 calibre towed howitzer and mortars were a part of the Exercise Agneyastra-1.
ii.Anti-tank missiles and Carl Gustav rocket launchers (RLs) also participated in the exercise Agneyastra 1.
iii. Ideaforge’s Switch UAV (Unmanned Aerial Vehicle), a fixed wing and vertical take-off and landing (VTOL) Hybrid UAV, was used to provide the real time imagery of the exercise area.
iv.Switch UAV also offers real-time Intelligence, Surveillance, and Reconnaissance (ISR) imagery of the target area, functioning day and night, even in harsh conditions at high altitudes.
About Indian Army:
Chief of the Army Staff- General Manoj Pande
Founded – 1895
Headquarters- New Delhi, Delhi

NHAI launches knowledge-sharing platform for highways development

On 20th June 2023, The National Highways Authority of India (NHAI) launched a ‘Knowledge Sharing Platform’ hosted on the NHAI website to promote inclusive development of national highways.

  • The portal is launched to encourage experts and citizens to share Knowledge and innovative practices regarding road design, construction, road safety, environmental sustainability, and other related fields.

Information in the form of video clips, PowerPoint Presentations (PPT), and  Portable Document Format (PDF) files can be uploaded on the NHAI web portal https://ksp.nhai.org/kb/ which will be reviewed and evaluated by NHAI officials for implementation.

INTERNATIONAL AFFAIRS

Global Gender Gap Index 2023: India Ranks 127th and Iceland TopsThe Global Gender Gap Index 2023 rankingsAccording to the World Economic Forum’s (WEF) annual Global Gender Gap Report 2023, released on June 20 2023, India has closed 64.3% of the overall gender gap and ranked 127th out of 146 countries in terms of gender parity at the Global Gender Gap Index 2023 whereas Iceland Topped the index followed by Norway and Finland at 2nd and 3rd rank.

  • Thus India has improved by 1.4% points and 8 positions in 2023 compared with the 2022 edition. (India was ranked 135th in the 2022 Index).

The Global Gender Gap Index 2023 rankings:

RankCountryScore 0-1
127India0.643
1Iceland0.912
2Norway0.879
3Finland0.863
4New Zealand0.856
5Sweden0.815


About World Economic Forum(WEF)
Headquarters – Cologny/Geneva, Switzerland
Establishment – 1971
Founder & Executive Chairman – Professor Klaus Schwab
President – Børge Brende
>> Read Full News

Extreme weather events led to 12mn Children Displacements in 2022: UNICEF estimatesExtreme weather events led to 12 million displacements of children in 2022According to the estimates released by UNICEF (United Nations Children’s Fund) on June 13, 2023, extreme weather events around the world, including unprecedented floods in Pakistan and the drought in the Horn of Africa, led to 12 million children displacements in 2022.

  • By the end of 2022, a record 43.3 million children lived in forced displacement, and almost 60% (25.8 million) were internally displaced by conflict and violence.
  • Internally displaced and refugee children, who are among the most vulnerable, often face barriers to education, healthcare, routine immunization, and social protection.

Highlights:
i.The number of children forcibly displaced from their homes doubled in the last decade.

  • The war in Ukraine has forced more than 2 million Ukrainian children to move from the country and displaced more than 1 million children inside Ukraine.

ii.The number of refugee and asylum-seeking children also hit a new record of 17.5 million, a number that does not even include those newly displaced in 2023 (by the conflict in Sudan).

  • More than 940,000 children have been displaced because of the conflict to date.

iii.According to The Global Report on Internal Displacement 2023 released in May 2023, the number of people displaced by disasters rose by 40% in 2022 compared to 2021.
Click here to know more
iv.In 2022, an estimated 2.8 million people were displaced by drought from Djibouti, Ethiopia, Kenya and Somalia.
UNICEF Urges Governments to leave no child behind by:
i.Recognizing refugee, migrant and displaced children as children first and foremost with rights to protection, inclusion, and participation.
ii.Providing safe and legal pathways for children to move, seek asylum and reunite with family.
iii.Strengthening national education, health, child protection and social protection systems to include displaced children without discrimination.
iv.Investing in national child protection systems.

BANKING & FINANCE

IRDAI Introduced Modifications to “Use and File” Procedure for Life Insurance ProductsIRDAI expands scope of 'Use and file' for life insurance productsOn 20 June 2023, the Insurance Regulatory and Development Authority of India (IRDAI) introduced some modifications to the existing “Use and File” Procedure for Life Insurance Products.
Key Modifications:
i.IRDAI has included individual and group unit-linked life and health insurance products and allowed insurers to use and file the products under the modified procedure.
ii.IRDAI has also introduced ‘Combi products’, which allow the filing of Combi products where the life insurer is the lead insurer.
iii.The current Standardized File Identification Number (SFIN) clearance process by IRDAI is dispensed.
About Insurance Regulatory and Development Authority of India (IRDAI)
Chairperson – Debasish Panda
Headquarters – Hyderabad, Telangana
Establishment – 1999, Incorporated in 2000
>> Read Full News

ECONOMY & BUSINESS

IndiGo places 500 aircraft A320 order with Airbus

On 19th June 2023, at the Paris Air Show 2023, India’s airline InterGlobe Aviation Ltd (IndiGo) ordered 500 A320 aircraft, from French manufacturer Airbus scheduled to be delivered within the years 2030-2035. 

  • The purchase agreement was signed in the presence of V. Sumantran, Chairman of the Board of IndiGo, Pieter Elbers, Chief executive officer(CEO) of IndiGo, Guillaume Faury, CEO of Airbus, and Christian Scherer, Airbus’ Chief Commercial Officer and Head of International.

i.The aircraft’s ordered comprises A320NEO (New Engine Option), A321NEO and A321XLRs (Extra Long Range) aircraft.
ii.The engines of the aircraft will be decided by Airbus between Pratt & Whitney and CFM with a mix of A320 and A321 aircraft.
iii.This deal stands 2nd to Air India which made a deal of 470 aircraft with Airbus and Boeing Company in February 2023.

AWARDS & RECOGNITIONS 

Star Alliance wins World’s Best Airline Alliance at the Skytrax 2023 World Airline AwardsStar Alliance wins World’s Best Airline Alliance title at the Skytrax 2023On June 20 2023, at the Skytrax 2023 World Airline Awards in Paris Air Show 2023, Paris, France, Star Alliance is named the World’s Best Airline Alliance Award for Singapore Airlines for the 5th year, and the Star Alliance Lounge at Los Angeles(LA) International Airport wins the top award as the Best Alliance Lounge for the 7th year.

  • Theo Panagiotoulias, CEO of Star Alliance received the awards at Paris Air Show 2023.

Other Awardees:
i.Tata-owned Vistara bagged the 16th position at the Skytrax World Airline Awards 2023 and shines as only Indian airline to feature in top 20 best airline list, while Indigo ranks 43rd, it retained the lead position as the best low-cost airline in India as well as South Asia.
ii.Top 5 winners of Skytrax 2023 World Airline Awards include Singapore Airlines, Qatar Airways, ANA All Nippon Airways, Emirates, and Japan Airlines.
iii.AirAsia (at 31st position) again won the World’s Best Low-Cost Airline award, a title it has won each year since 2010. IndiGo was in the 43rd position.
iv.A new award was introduced in 2023, for the World’s Most Family Friendly Airline, this being won by Air Canada. Click here to know more

About Star Alliance:
i.The Star Alliance network which was established in 1997, is a global group of 26 airlines, including Air India, Lufthansa, Singapore Airlines and South African Airlines.
ii.The 13 Star Alliance member airlines received 35 additional awards including World’s Cleanest Airline and World’s Best Premium Economy Class to several best regional airline awards.
iii.Since its introduction in the award categories in 2005, Star Alliance has won the World’s Best Airline Alliance award multiple times.

About The Skytrax World Airline Awards:
i.The World Airline Awards began in 1999, when Skytrax launched its first global, annual airline customer satisfaction survey.
ii.The award which is also known as “the Oscars of the aviation industry”, is decided through international customer voting. 
iii.The 2023’s survey represented passengers over 100 nationalities in 6 major international languages.    

APPOINTMENTS & RESIGNATIONS     

Hasmukh Adhia appointed as Chairman of GIFT City; Airavat Capital launches global technology fund at GIFT CityHasmukh Adhia appointed Chairman, GIFT CityHasmukh Adhia, former union finance & revenue secretary, has been appointed Chairman of GIFT City Ltd (Gujarat International Finance Tec-city co. ltd.), in Gandhinagar, Gujarat, replacing Sudhir Mankad, who has been serving as the Chairman of GIFT City since 2007.

  • Hasmukh Adhia was also appointed as the non-executive Chairman of the Vadodara(Gujarat) based Gujarat Alkalies & Chemicals Ltd (GACL) and Ahmedabad (Gujarat) based Gujarat Mineral Development Corporation Ltd (GMDC).

Note – GIFT City Ltd is an entity responsible for developing India’s first smart city Gujarat International Finance-Tec City in Gandhinagar.

Airavat Capital launches global technology fund at GIFT City

On 20th June 2023, Airavat Capital, a public equities investment firm, launched a global technology fund, Airavat Global Technology Fund R (AGTF R), based in Gift City to invest in top listed technology companies around the globe.

About Gujarat International Finance Tec-city co. ltd. (GIFT-City):
Headquarters – Gandhinagar, Gujarat
MD & Group CEO – Tapan Ray

>> Read Full News  

Marcel Ciolacu Appointed as New Prime Minister of Romania; Nicolae Ciucă Resigned
On 15th June 2023, Ion-Marcel Ciolacu(55 years old), leader of Romania’s Social Democratic Party (PSD-Partidul Social Democrat) sworn in as the new Prime Minister(PM) of Romania at the Cotroceni Palace in Bucharest, Romania.

Romania PM Nicolae Ciucă Resigned:
Nicolae Ciucă, leader of the National Liberal Party (PNL), who has been serving as the PM of Romania since 2021 resigned from the post on 12th June 2023. 

  • On 13th June 2023, Klaus Iohannis, President of Romania, appointed incumbent Justice Minister Catalin Predoiu as interim PM of Romania.

Background:
i.Under an agreement reached by the members of the ruling coalition that was sworn-in in November 2021, Romania will rotate its PM every 18 months before the next parliamentary elections, which are expected to be held in December 2024.
ii.The rotation should have taken place on 25th May 2023 but was delayed due to the teachers’ strike in Romania.
iii.
As per the agreement, Nicolae Ciucă handed over the post to Marcel Ciolacu, the leader of PSD.
Vote of investiture:
On 15th June 2023, The new government led by Marcel Ciolacu won the vote of investiture in the Parliament.
i.
The cabinet received 290 votes in favour and 95 against during the joint plenary session of the 465-seat bicameral legislature.
ii.Marcel Ciolacu will lead the cabinet composed of 2 deputy PMs and 17 other ministers. 

About Ion-Marcel Ciolacu :
i.Ion-Marcel Ciolacu has been a member of the Social Democrat Party(PSD) since 1990 and became the PSD’s interim President in December 2019. In August 2020 he was elected as the full president of PSD.
ii.He entered national politics in 2012 and won a mandate as a member of the Chamber of Deputies of the Parliament of Romania and he was re-elected as member of Parliament in 2016.
iii.He served as a member of the Standing Bureau of the Chamber of Deputies from 2014 to 2016.
iv.He served as the Deputy PM of Romania from June 2017 to January 2018 and served as the  Speaker of the Chamber of Deputies from 2019 to 2020.
v.He served as the President of the Chamber of Deputies of Romania from 2021 to June 2023. 

About Romania:
Prime Minister– Marcel Ciolacu
President– Klaus Iohannis
Capital
– Bucharest
Currency– The Romanian Leu

Alibaba CEO Zhang Resigns to focus on Alibaba Cloud Intelligence Group

On 20th June 2023, Daniel Zhang Yong, the 51-year-old Chinese business executive, has announced his resignation as Alibaba Group Holding chairman and Chief Executive Officer(CEO) and to focus on Alibaba Cloud Intelligence Group.

  • Zhang joined the retail giant in 2007 and became CEO in 2015 and chairman in 2019, succeeding co-founder Jack Ma.
  • Eddie Yongming Wu, chairman of Alibaba’s Taobao and Tmall Group, is set to assume the role of CEO at Alibaba Group.
  • Joseph Tsai, the Executive Vice Chairman, is set to assume the position of Chairman, succeeding the current chairman.

ACQUISITIONS & MERGERS   

CCI approves acquisition of stake by HDFC in HDFC Life Insurance and HDFC ERGO General InsuranceCCI approves acquisition of stake by mortgage lender HDFC in 2 insurersOn June 20, 2023, the Competition Commission of India (CCI) granted its approval to Housing Development Finance Corporation Limited (HDFC Limited) to acquire a certain stake in HDFC Life Insurance Company and HDFC ERGO General Insurance Company Ltd.

  • These approvals will aid in the merger of HDFC Limited into HDFC Bank, which is expected to be finalized by the third quarter of the Financial year 2023-24 (Q3 FY24).
  • In both cases, the merged entity HDFC Bank (after the effective date of the proposed amalgamation) will hold over 50% of the shareholding of the two insurance companies

Background:
On April 4, 2022, HDFC Bank agreed to take over HDFC in a deal valued at about USD 40 billion which is termed the biggest transaction in India’s corporate history. In April 2023, the Reserve Bank of India (RBI) permitted HDFC Bank or HDFC to raise their stake in HDFC Life Insurance Company and HDFC ERGO General Insurance Company to over 50%, effective until the merger date.

  • HDFC Limited is a public limited company incorporated under the Companies Act, 1956

The Outcome:
The proposed entity i.e. ‘HDFC Bank’ will have a combined asset base of around Rs 18 lakh crore. Once the deal is effective, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank.

  • Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares they hold.

Another Development:

i.As per an RBI directive for its merger with HDFC Bank, HDFC Limited was asked to pare its stake in HDFC Credila to 10% over the next two years, and stop onboarding new customers.

ii.Thus on June 19, 2023, HDFC Limited stated that it would sell a 90% stake in education loan subsidiary HDFC Credila Financial Services to Baring Private Equity Asia (BPEA) EQT group and the ChrysCapital group for Rs 9,060.5 crore. 

HDFC sells 90% of its stakes in HDFC Credila for Rs 9,060 crore

Housing Development and Finance Corporation(HDFC) has sold its 90% stakes in HDFC Credila Financial Services, a education loan subsidiary of the (HDFC) to BPEA EQT and ChrysCapital for Rs 9,060 crore.
i.The Stakes are acquired by Kopvoorn BV, part of the BPEA EQT group, and Moss Investments, Defati Investments Holding B.V. & Infinity Partners,which are part of the ChrysCapital group
ii.The total revenue of HDFC Credila during the 2022-23 fiscal was Rs 1,352.18 crore and its net worth as on March 31, 2023, was Rs 2,435.09 crore.
Background for the sale:
The sale comes ahead of the completion of HDFC’ Ltd’s merger with HDFC Bank Ltd.,
as advised by RBI to bring down the shares in HDFC Credila Financial Services to 10% within 2 years.

IMPORTANT DAYS

International Yoga Day 2023 – 21st June International Day of Yoga - June 21 2023The United Nations(UN)’s International Day of Yoga (IDY) is annually observed across the globe on 21st June to create awareness about the benefits of practising yoga, an ancient physical, mental and spiritual practice that originated in India.

  • 21st June 2023 marks the observance of the 9th International Yoga Day. 

The theme of  IDY 2023 is “Yoga for Vasudhaiva Kutumbakam” – ‘Yoga for ‘The World is One Family’.
Background:
i.The United Nations General Assembly(UNGA) adopted the resolution A/RES/69/131 in December 2014 and proclaimed the 21st June of every year as the International Day of Yoga.
ii.The first-ever International Day of Yoga was observed on 21st June 2015. 
Observance: 
The 9th International Day of Yoga is organised by the Permanent Mission of India to the UN in collaboration with the UN Secretariat at the UN Headquarters in New York, The United States of America (USA).
Note: Narendra Modi,  Prime Minister (PM) of India, attended the Yoga program at the UN Headquarters.
>> Read Full News

World Hydrographic Day 2023 – June 21      World Hydrographic Day - June 21 2023World Hydrographic Day (WHD) is annually celebrated on 21st June across the world to raise awareness of the importance of hydrography and its major role in improving the knowledge of the seas and oceans.

  • This day also aims to publicise the work of Hydrographers all around the world.

The 2023 theme of World Hydrographic Day is “Hydrography – Underpinning the Digital Twin of the Ocean

  • The 2023 theme for WHD is designed to highlight the relationship between hydrography and oceanography.

Background:
i. World Hydrography Day was approved and implemented as an annual celebration by the International Hydrographic Organization (IHO) in 2005.
ii. On 29th November 2005, the United Nations General Assembly (UNGA) adopted the Resolution A/RES/60/30 “Oceans and the law of the sea”, recognizing the establishment or adoption of World Hydrography Day to be celebrated on 21st June every year, by the IHO.
iii. The first ever World Hydrography Day was observed on 21st June 2006.
About International Hydrographic Organization (IHO):
Established in– 1921
Secretary-General– Dr Mathias Jonas (Germany)
Headquarters– Monaco
>> Read Full News

International Day of the Celebration of Solstice 2023 – June 21

International Day of the celebration of Solstice - June 21 2023The United Nations(UN)’s International Day of the Celebration of the Solstice is annually observed across the globe on June 21 to highlight the importance of the solstice in the culture of many indigenous peoples and to encourage cultural exchange.

Background:
United Nations General Assembly(UNGA) adopted the resolution A/RES/73/300 in June 2019 and proclaimed the 21st June of every year as the International Day of the Celebration of the Solstice to promote awareness around the astronomical events of Solstice and Equinox.

The Solstice:
A solstice is an astronomical event that happens twice a year typically around June 20th or 21st and December 21st or 22nd. During a solstice, the tilt of the Earth’s axis is at its maximum, either pointing towards or away from the Sun.

  • Solstice is derived from the Latin words ‘sol‘ (‘Sun’) and ‘sistere’ (‘to hold still’)

i.Summer Solstice which usually falls around June 21(initial solstice) marks the 1st day of summer and the longest day of the year. This usually occurs in the Northern Hemisphere.
ii.Winter Solstice which usually falls around December 21(2nd solstice) marks the 1st day of Winter and the shortest day and longest night of the year. this usually occurs in Southern Hemisphere.
The equinox:
An equinox is derived from the Latin aequinoctium, from aequus (equal) and nox (night).The equinox is when the Sun is above the Earth’s equator and occurs twice a year and the day and night time are of approximately equal duration.
i.Spring equinox which occurs on 20th March as it marks the beginning of Spring in most cultures.
ii.The other being the Autumnal equinox which occurs on 23rd September as it marks the beginning of autumn.

World Music Day 2023 – June 21 World Music Day - June 21 2023World Music Day is annually celebrated across the world on 21st June to encourage and honour the musicians and singers for the gift of music across the world. This day recognises the power of music in uniting people of different nationalities, cultures, and races around the world.

  • This day also serves as a platform and provides opportunities to the young and amateur musicians to showcase their talents.
  • World Music Day, also known as Fête de la Musique, meaning “Festival of Music” in French.
  • 2023 marks the 41st Anniversary of the celebration of Fête de la Musique.

Note: The annual celebration of Fête de la Musique across the world coincides with the day of the Summer Solstice, a day symbolising the perfect balance of light and darkness.
Background:
i. In 1982 World Music Day was first celebrated as Fête de la Musique in Paris, France conceived by Jack Lang, an French Minister of Culture along with Maurice Fleuret, Director of Music and Dance of the Ministry of Culture, France.
ii. Maurice Fleuret, Jack Lang, along with Christian Dupavillon, architect-scenographer came up with a plan to unite the musicians on the streets of Paris (France) for the celebration of Fête de la Musique.
iii. The Celebration of Fête de la Musique was adopted as a global event on the occasion of the European Year of Music 1985.
iv. The day, which originated on 21st June 1982 in France, is currently celebrated in around 120 countries worldwide.
Events in India:
On the occasion of World Music Day 2023 and International Day of Yoga 2023 (21st June 2023), Sangeet Natak Akademi, has organised an event “Samyog”, at Meghdoot theatre complex, Copernicus Marg, New Delhi, Delhi.

  • The event includes, workshops related to Yoga and Music, and Music performances by various performers and musicians.

STATE NEWS

UP Government Launches ‘Polytechnic Chalo Abhiyan‘ to Motivate Technical Education Among Youth

On 16th June 2023, the Government of Uttar Pradesh(UP) launched ‘Polytechnic Chalo Abhiyan 2023’ to motivate youths to pursue technical education and take admission in polytechnic institutes.

  • It aims to enroll lakhs of youth in Government, aided and private polytechnic institutes.
  • It is being conducted in various educational institutions for promotion of the entrance examination in all districts.
  • The department of technical education has urged all polytechnic institutions in UP to participate in the campaign to increase the admissions.

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List of Current Governors in India – February 2023

List of Current Chief Ministers in India – February 2023

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List of Less Important News – Click Here

Current Affairs Today (AffairsCloud Today)

S.noCurrent Affairs 22 June 2023
1India, UNWTO ink pact to Enhance Cooperation in Tourism
2Highlights of Defence Minister of Vietnam General Phan Van Giang visit to India
3GoI withdraws draft Live-stock and Live-stock Products  [Importation and Exportation] Bill, 2023
4UNDP partnered with DAY-NULM to empower women entrepreneurs
5Indian Army conducted Exercise Agneyastra 1 in eastern Ladakh
6NHAI launches knowledge-sharing platform for highways development
7Global Gender Gap Index 2023: India Ranks 127th and Iceland Tops
8Extreme weather events led to 12mn Children Displacements in 2022: UNICEF estimates
9IRDAI Introduced Modifications to “Use and File” Procedure for Life Insurance Products
10IndiGo places 500 aircraft A320 order with Airbus
11Star Alliance wins World’s Best Airline Alliance at the Skytrax 2023 World Airline Awards
12Hasmukh Adhia appointed as Chairman of GIFT City; Airavat Capital launches global technology fund at GIFT City
13Marcel Ciolacu Appointed as New Prime Minister of Romania; Nicolae Ciucă Resigned
14Alibaba CEO Zhang Resigns to focus on cloud unit
15CCI approves acquisition of stake by HDFC in 2 Insurers
16HDFC sells 90% of its stakes in HDFC Credila for Rs 9,060 crore
17International Yoga Day 2023 – 21st June
18World Hydrographic Day 2023 – June 21
19International Day of the celebration of Solstice
20World Music Day 2023 – June 21
21UP Government Launches ‘Polytechnic Chalo Abhiyan‘ to Motivate Technical Education Among Youth