Current Affairs 23 June 2023

We are here for you to provide the important Recent and Latest Current Affairs 23 June 2023, which have unique updates of Latest Current Affairs 2023 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

Our Current Affairs June 2023 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Latest Current Affairs Quiz and Monthly Current Affairs 2023 PDF which will be a pedestrian to crack your exams.

Read Current Affairs in CareersCloud APP, Course Name – Learn Current Affairs – Free Course – Click Here to Download the APP

We are Hiring – Subject Matter Expert | CA Video Creator | Content Developers(Pondicherry)

Click here for Current Affairs 22 June 2023

NATIONAL AFFAIRS

Department of Justice partnered with NALSA, CSC for mainstreaming legal aid via Tele–LawThe Department of Justice (DoJ) under the Ministry of Law & Justice, Government of India (GoI) has partnered with National Legal Services Authority (NALSA) and Common Services Centres (CSC) electronic governance (e-Governance) Service India Limited for mainstreaming legal aid to the marginalised communities through the system of Tele–Law.
About Tele–Law:
i. Tele-Law was launched in 2017 as a pilot programme with 1800 CSCs in 11 States.
ii.Tele-Law means the use of communications and information technology for the delivery of legal information and advice.
iii. The concept of Tele-Law is to facilitate delivery of legal advice through a panel of lawyers stationed at the front office of Legal Services Authorities and CSC, mostly at the level of Village Level Entrepreneurs (VLEs).
iv. The project initiates to connect citizens with panel lawyers through video conferencing, internet and telephone facilities by the VLEs identified in 1,00,000 gram panchayats.
v. DoJ’s Tele-Law aimed at improving the lives of citizens through free pre-litigation advice & making justice delivery accessible, affordable and efficient for all.

JustIS App– It is the Mobile Court management App of DoJ, for the Judges of District & Subordinate Courts in India.
About Ministry of Law and Justice:
Minister of State (MoS) (Independent Charge) – Arjun Ram Meghwal (Constituency – Bikaner, Rajasthan)

MNRE Extends Timeline for Solar Parks and Ultra Mega Solar Power projects Scheme by Two Years till 2026

On 16th June 2023, the Ministry of New and Renewable Energy (MNRE) extended the deadline for ‘Development of Solar Parks and Ultra-Mega Solar Power Projects’ by two years i.e. till 2026.

• The previous deadline for this project was scheduled to end in March 2024.
• This project was implemented with the aim to reduce project cost per MegaWatt (MW) and higher transmission losses.

About the Project:
The project was initiated to build solar power parks with 500 MW and above capacity, smaller solar power parks are also allowed only in-case of acute shortage of non-agricultural land and large portions of land difficult to acquire in view of difficult terrain.

• The solar power parks were implemented in collaboration with the state government, Central Public Sector Undertakings (CPSU), and private entrepreneurs. The implemented agency is termed Solar Power Park Developer (SPPD).

1st Phase:
The ultra mega solar power projects were implemented in December 2014, with an aim to set up at least 25 solar parks and ultra mega solar projects with a production capacity of 20,000 MW within 2020.
2nd Phase:
The solar power projects scheme was extended to 2023-24 with enhanced capacity of 40,000 MW on 21th March,2017.
Central Financial Assistance (CFA)
i.The ministry of New and Renewable Energy provides Central Financial Assistance (CFA) of up to Rs 20.00 lakh per MW or 30% of the project cost, including Grid-connectivity cost, whichever is lower, and CFA of Rs 25 lakh per solar park for the detailed project report (DPR)

• The solar power projects implemented by private entrepreneurs are not eligible for CFA under this scheme.

ii.If Solar Energy Corporation of India Ltd (SECI) acted as the SPPD,it would receive Rs 20 lakh per MW or 30% of the project cost for external transmission infrastructure only.
iii.If SECI/CPSU/State PSU/government organisations or their subsidiaries and joint venture act as SPPD, it would receive Rs 12 per MW or 30% of the project cost to SPPD for development of internal infrastructure and Rs 8 per MW or 30 % of the project cost to the CTU/STU for creation of external transmission infrastructure.

Note – All the States and Union Territories are eligible for getting benefits under the scheme.

Union Defence Minister Inaugurated the Integrated Simulator Complex for Indian Navy in Kerala

On 21st June 2023, Defence Minister Rajnath Singh inaugurated the Integrated Simulator Complex(ISC) “Dhruv“ at the Southern Naval Command in Kochi, Kerala.The ISC Dhruv hosts modern and advanced indigenously-built simulators which will significantly improve the practical training of Indian Navy personnel. 

• These simulators are designed to provide real-time experience on navigation, fleet operations, naval tactics and will also be utilised for training of personnel from friendly countries.
• These simulators are indicative of the ‘Aatmanirbhar Bharat’ initiative and a defence export potential for the nation.
• Some of the other indigenously developed simulators in the Complex include Combat Management System and Maritime Domain Awareness Lab.

Our indigenous products:
i.The Ship Handling Simulators, developed by ARI Pvt Ltd, New Delhi, Delhi, have been exported to 18 countries.
ii.The Astronavigation Dome, the first of its kind in the Indian Navy, has been developed by Infovision Technologies Pvt Ltd.
iii.The ADHCS, developed by Institute for Systems Studies and Analysis, a DRDO laboratory, will provide real-time operational environment scenarios to trainees.
Note: Rajnath Singh visited the Multi-Station Handling Simulator (MSSHS), Air Direction and Helicopter Control Simulator (ADHCS) and Astronavigation Dome.

DGR Signs MoU with Adecco Ltd. to Generate Employment for Ex-servicemen

On 21st June 2023, The Directorate-General for Resettlement (DGR) under the Ex-Servicemen Welfare Department, Ministry of Defence (MoD) signed a Memorandum of Understanding (MoU) with M/s Adecco India Private Ltd in New Delhi, Delhi  to generate employment for ex-servicemen.

• The goal is to bring corporate companies and ex-military on a common platform to generate job opportunities for ex-military personnel in various sectors such as IT, E-Commerce, Logistics, Telecom, Aerospace and Defense, Facility Management, Security, Assessment Services Digital, Energy and Energy, Manufacturing, Chemistry and Agri-Food Etc.
• To provide job for its ex-personnel in future due to contractual employment of constabulory under the Agnipath scheme.
• From April 2022 to March 2023, 24,234 ex-servicemen received employment in various sectors.

Note: On 12th June 2023, the DGR had signed with an MoU with Kotak Mahindra Life Insurance Company Ltd to create jobs for ex-servicemen.

INTERNATIONAL AFFAIRS

India, US launched INDUS-X for Technology and Defence Industry CooperationOn June 21, 2023, The Ministry of Defense (MoD), Governmnet of India(GoI) and the Department of Defense (DoD), government of the United States of America(USA) officially launched the India-U.S. Defense Acceleration Ecosystem (INDUS-X) at an event held in Washington DC, USA to expand the strategic technology partnership and defence industrial cooperation between governments, businesses, and academic institutions.

• Objective: To strengthen ties between the defence industrial ecosystems of both nations to make them more innovative, accessible, and resilient.

Backdrop:
i.The INDUS-X was formed based on the commitment made between the U.S. and Indian National Security Advisors in January 2023 to launch an ‘Innovation Bridge’ to connect U.S. and Indian defence start-ups as part of the U.S.-India initiative on Critical and Emerging Technology (iCET).

•  iCET was announced by Prime Minister(PM) Narendra Modi and US President Joe Biden in 2022 for cooperation on critical and emerging technologies including artificial intelligence, semiconductors and quantum computing.

ii.India’s Innovations for Defense Excellence (iDEX) and the Office of the Secretary of Defense (OSD) are leading INDUS-X activities for MoD and DoD, respectively.
Two-day INDUS X event:
i.The two-day INDUS X event was held on June 20 and 21, 2023 and it was hosted by the US-India Business Council.
ii.It was Co-organized by iDEX under the MoD and the US DoD, bringing together government representatives, defence industry leaders, think tanks, investors, and start-ups from both countries.
iii.Anurag Bajpai, Joint Secretary (Defence Industries Promotion-DIP) of the MoD, led the Indian delegation and emphasized the significance of the launch of INDUS X in strengthening bilateral defence relations.
iv.A joint showcasing of innovative technologies held at the event by 15 Indian start-ups and 10 US start-ups, in multiple domains such as maritime, Artificial Intelligence, autonomous systems, and space.
v.INDUS X also hosted panel discussions and round tables focused on deepening collaborations across various domains, including government, academia, and industry, especially startups.
vi.A factsheet was released at the event for operationalising the “Defence Innovation Bridge” under iDEX.
Bilateral Cooperation:
i.A Senior Advisor Group (SAG) will assess the progress on the collaboration agenda and make recommendations to the defence establishments and other INDUS-X stakeholders for future work.
ii.The collaboration agenda will be implemented by the United States Institute of Peace (USIP), Carnegie India, USIBC, the U.S.-India Strategic Partnership Forum (USISPF), and the Society of Indian Defense Manufacturers (SIDM) will drive the implementation of the collaboration agenda.

India to lose 6,500 millionaires in 2023, Dubai and Singapore top choice: Henley’s Reporti.According to the Henley and partners’ annual report of Henley Private Wealth Migration Report 2023, published on June 13, 2023, India may lose at least 6,500 High-Networth Individuals (HNWIs) in 2023 making India the second-highest outflow of HNWIs globally, after China (which has a net loss of 13,500 HNWIs).
ii.India will be followed by the United Kingdom-UK (3,200) and Russia (3,000) in third and fourth places, respectively.
iii.The 2022 edition projected the departure of 7,500 HNWIs from India that year.
iv.Dubai, United Arab Emirates (UAE) and Singapore remain preferred destinations for wealthy Indian families amid Golden Visa” program, favourable tax environment, robust business ecosystem and a safe, peaceful environment.
About Henley and Partners:
CEO– Juerg Steffen
Headquarters– London, UK
>> Read Full News

IREDA participated in “Intersolar Europe 2023″ exhibition in Germany

Indian Renewable Energy Development Agency Limited (IREDA), a Mini Ratna (Category – I) Government of India(GoI) enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE), participated in the three-day “Intersolar Europe 2023″ exhibition held in Munich, Germany from 14th to 16th June 2023.

• The exhibition aimed to educate visitors on IREDA’s initiatives in financing renewable energy projects, promoting energy efficiency, and promoting the growth of renewable energy in India.
• The inauguration of the pavilion was carried out by Chief Managing Director(CMD), IREDA, Pradip Kumar Das.
• IREDA’s pavilion served as a platform for visitors to network and explore potential business opportunities, particularly during the crucial time of energy transition and IREDA’s Initial Public Offering (IPO) plan.
• During the exhibition, IREDA officials attended meetings with Germany banks such as Kreditanstalt für Wiederaufbau (KfW) Development Bank and Commerz Bank to review current progress and explore partnership opportunities.
• IREDA officials also visited RCT(RENA Clean Tech Solutions) GMbH(Gesellschaft mit beschränkter Haftung) at Konstanz, Germany to discuss the technology, milestones, and costs related to the Indosol Solar Manufacturing project.

BANKING & FINANCE

World Bank approves additional USD 150mn Loan for Resilient Kerala programThe World Bank (WB) through its lending arm International Bank for Reconstruction and Development (IBRD) has approved an additional USD 150 million loan to support the Resilient Kerala Program to strengthen Kerala’s preparedness against natural disasters, climate change impacts, disease outbreaks, and protect lives.

• This financing along with the earlier investment of USD 125 million, focuses on coastal erosion and water resource management and is expected to protect approximately 5 million (50 lakh) people from the impacts of floods.
• The loan has a final maturity of 14 years, including a grace period of 6 years.

Need behind this funding:
Funding for Kerala is crucial due to its vulnerability to natural disasters and climate change. Currently, the lack of integration of satellite maps, risk maps, and sectoral data hinders effective planning and execution of public sector investments.
The funds will:
i.Enhance coastal resilience through a shoreline management plan, addressing risks to environmental resources, human settlements, and coastal infrastructure.
ii.Minimize future flood damage by restoring rivers and embankments, improving data systems to reduce vulnerability to hazards, and integrating comprehensive planning.
iii.Develop an integrated river basin management plan for the Pamba river basin.
Overall, the funding will strengthen Kerala’s resilience to natural hazards and climate change, promote effective planning, and safeguard the state’s coastal and riverine areas.
Key Points:
i.Urbanization and deforestation have led to sustained erosion along 45% of Kerala’s 580-km coastline.
ii.The upland districts and rivers of the Pamba river basin, including the origin point in the Idukki district, suffer severe damage from heavy rainfall.
iii.Between 1925 and 2012, the forest cover in Kerala has declined by over 44%, while settlements have increased by 400%.
About World Bank (WB):
World Bank Group President – Ajay Banga
Headquarters – Washington, DC, USA
Establishment – 1944

SEBI introduces Stricter framework for Disposal of undertaking by a listed EntityOn June 14, 2023, the Securities and Exchange Board of India (SEBI) required ‘listed entities’ to follow a stricter framework for the disposal of ‘undertaking’ and prescribed an approval requirement, through the introduction of regulation 37A by making amendments to the SEBI  (Listing  Obligations and  Disclosure Requirements (LODR)) Regulations, 2015 called the SEBI (LODR)(Second Amendment) Regulations, 2023.

• The amendments are based on the Consultation Paper rolled by SEBI on February 21, 2023.
• Regulation 37A came into force with immediate effect, i.e., from June 14, 2023.

Currently, companies make the disposal or lease of their undertakings through two routes of Scheme of Arrangement (prescribed under the Companies Act and/or LODR Regulations) and by way of slump sale/Business Transfer Agreement (outside the Scheme of Arrangement framework).
Existing Framework: Disposal (other than by way of a scheme of the arrangement), requires approval of the shareholders by way of special resolution and it has so far been regulated as per section 180(1)(a) of the Companies Act, 2013 (‘Act’).

• There was no explicit framework for protecting the interest of minority shareholders.
• The sale of undertakings or their substantial part was being allowed to be executed outside the scheme of arrangement framework without being approved by the National Company Law Tribunal (NCLT).

About Undertaking: An undertaking shall be covered under regulation 37A if, the investment of the company in such undertaking is more than 20% of its net worth; or if the undertaking generates at least 20% of the total income of the company.

New Framework: To safeguard the interest of minority shareholders, SEBI has now issued an additional framework for the disposal of the undertaking, i.e. the disposal of an undertaking through slump sales (outside the Scheme of Arrangement) should be approved only if the majority of public shareholders vote in favour than those voting against it.

• SEBI has also now mandated disclosure of the objects and commercial rationale for such sale, disposal or lease, to the shareholders.

Exemption: SEBI has provided exemption in case of transactions with a wholly owned subsidiary (WOS), the approval regime will apply in case of disposal of undertaking by such WOS or any reduction in shareholding in the WOS subsequent to the transfer of the undertaking.

Note – SEBI made the amendments in the exercise of the powers conferred by section 11, sub-section (2) of section 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956).

Axis Bank launches One-View – Multi-Bank Aggregator Feature on its Mobile AppOn June 21, 2023, Axis Bank launched its latest feature, ‘One-View’ on ‘Axis Mobile’, a banking Application of Axis Bank, to enable the users to manage their accounts across the different bank, including non-axis accounts.

• Axis Bank became the 1st private sector bank to launch a new-age banking feature using the Account Aggregator(AA) ecosystem to create a seamless banking experience for its customers.
• This feature enables customers to access multiple bank accounts on one single platform, and track their balances, transaction statements, and spends on a real-time basis.

Features of One-View:
i.Ensures Seamless onboarding process to link non-Axis Bank accounts in the Axis Mobile app.
ii.Provides a comprehensive view of their account balances and transaction statements across multiple bank accounts.
iii.This feature will eliminate the need for multiple mobile banking applications.
iv.It also Allows customers to download and email transaction details from their linked accounts.
v.Customers can delink any single or all non-Axis Bank accounts at their convenience
Note: Axis Bank’s mobile app has earned the distinction of being the highest-rated mobile banking app on the Google Play Store, with an average rating of 4.8 stars.
What is AA?
It is Reserve Bank of India (RBI) regulated entity, holding an NBFC (Non-Banking Financial Company)-AA license, which enables individuals to securely and digitally access and share their financial information from one institution to another within the AA network. The data sharing is made with the individual’s consent, ensuring privacy.

• It replaces the traditional blank cheque acceptance of long terms and conditions.

About Axis Bank:
MD & CEO – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra
Establishment – 1993
Tagline – Badhti Ka Naam Zindagi

ECONOMY & BUSINESS

Fitch Ratings Projected India’s GDP growth in FY24 at 6.3%In June 2023, the Fitch Ratings has increased its forecast for India’s GDP(Gross Domestic Product) growth by 0.3% points to 6.3% for the current fiscal year 2023–2024 (FY24) from its prior prediction of 6% due to near-term momentum and a stronger outturn in the first quarter of FY24.

• The GDP growth of the Indian economy was about 7.2% in FY23 and 9.1% in FY22.

Key Points:
i.Growth projections for FY25 and FY26 are estimated at 6.5% each due to inflation having eased and the domestic economy has picked up.
ii.Fitch stated that the GDP growth for the months of January to March 2023 was higher than anticipated and that there has been a recovery in manufacturing following two consecutive quarterly contractions.
iii.Fitch also noted that there has been a boost from construction and an increase in farm output.
iv.In expenditure terms, GDP growth was driven by domestic demand and a boost from net trade.

BEL & HFCL signed MoU to leverage business opportunities across multiple sectors Bharat Electronics Limited (BEL), a Navratna Defence Public Sector Unit (PSU) and HFCL Limited (formerly known as Himachal Futuristic Communications Ltd), a leading technology enterprise signed a Memorandum of Understanding (MoU) to indigenously develop and deploy emerging technologies and technical solutions to address the requirements of Defence, Telecom and Railway sectors.

• The non-exclusive MoU, signed for 2 years, aims to promote ‘Atmanirbhar Bharat’ (self-reliant India) initiative and Make in India initiative.
• Under this MoU, BEL’s expertise in defence and HFCL’s expertise in cutting edge solution will contribute in achieving India’s vision of digital India and support to establish India as an important global manufacturing hub.

Highlights:
i. Under this MoU, BEL and HFCL will seek business opportunities, capitalising on their domain expertise, technological strengths, and market presence to enhance the nation’s capabilities in defence.
ii. It will also contribute to the growth of telecommunications infrastructure and other critical, developing sectors.
iii. BEL and HFCL in this process shall explore options such as Transfer of Technology and joint production of mutually identified products and solutions.
iv. This partnership will play a pivotal role in meeting GOI’s target of building state-of-the-art technology architecture.
Note: The GOI has prioritised its focus on initiatives like acceleration of the implementation of 5G network, nationwide fiberisation and promoting participation in the Production Linked Incentive (PLI) scheme.
i. The combined leadership of BEL and HFCL will facilitate in developing and manufacturing innovative products, solutions and technological capabilities to address the opportunities across sectors including Defence, Telecom, communications, Railways.
About Bharat Electronics Limited (BEL):
BEL was established in 1954 under the Ministry of Defence (MoD), GoI
Chairman & Managing Director (CMD)– Bhanu Prakash Srivastava (additional charge)
Headquarters– Bengaluru, Karnataka

HAL signs MoU with Argentina firm for exploration in aircraft

Hindustan Aeronautics Limited(HAL), headquartered in Bengaluru from Karnataka and Argentina’s Fabrica Argentina de Aviones (FAdeA) have signed a Memorandum of understanding (MoU) to explore collaboration in the maintenance, repair, and overhaul (MRO) of aircraft components, systems, and structures during the ongoing Paris Air Show 2023 at Paris, France.

• The partnership aims to strengthen ties between HAL and Argentina’s aviation industry and it contributes to the growth and development of the aerospace sector in the Latin American (LATAM) region.
• Note- FAdeA is an Argentinian state-owned aircraft manufacturer, administered under the South American Country’s Ministry of Defence.

AWARDS & RECOGNITIONS      

2022 Burgundy Private Hurun India 500- 6 month update: RIL topped as India’s most valuable companyAccording to the “2022 Burgundy Private Hurun India 500: a Six Month Update” released on 20th June 2023, Reliance Industries Limited (RIL) topped as India’s most valuable company with a value of Rs 16.37 lakh crore followed by Tata Consultancy Services (TCS) with Rs 11.76 lakh crore and HDFC Bank with Rs 9.41 lakh crore.

• The report, featuring 500 most valuable non-state-owned companies in India, was released by Burgundy Private, Axis Bank’s Private Banking Business and Hurun India. 
• This report is a  six-month update (from October 30, 2022- April 30, 2023) on the 2022 Burgundy Private Hurun India 500 released in December 2022.

In the Most Valuable Company category, Tata Group topped the list with 15 companies (TCS as the most Valuable Company), followed by Adani group with 8 companies (Adani Enterprises as the most valuable company) and Aditya Birla Group with 5 companies (Grasim Industries as the most valuable company).  
>> Read Full News

Randstad India’s REBR 2023: Tata power emerged as India’s Most Attractive Employer BrandAccording to the annual report of Randstad India, a Human Resources (HR) service provider, titled “Randstad Employer Brand Research (REBR) 2023” Tata Power Company has been named ‘India’s most attractive employer brand’.

• Tata Power is followed by Amazon at the 2nd spot and Tata Steel Limited, at the 3rd place. Tata Steel is the new entrant on the REBR 2023 report.
• Tata Power has scored high on the top 3 EVP (Employee Value Proposition) drivers- financial health, good reputation and career progression opportunities.

Note: 

• The report stated that the most important EVP drivers of the Indian workforce while choosing an employer are: Work-life balance, good reputation and attractive salary and benefits.
• The female workforce focuses more on the work-life balance.

About the Report: 
The 2023 report is based on the survey taken among 1.63 lakh respondents across the globe. The sample space covers 32 markets and 75% of the global economy.
Key Highlights: 
i.The other organisations among the top 10 include Tata Consultancy Services(TCS) at the 4th place followed by Microsoft, Samsung India, Infosys, Tata Motors Limited, IBM and Reliance Industries Limited(RIL).
ii.Among the startups, Big Basket has emerged as the most attractive startup employer brand in India.
iii.The report highlighted that employees have rated automotive as the most attractive sector (77%) in India followed by Information Technology (IT) /Information Technology enabled Services(ITeS) and Telocom with 76% and Fast-moving consumer goods (FMCG), Retail and e-commerce with 75%.
iv.The report also discovered that around 91% of the respondents finds employer more attractive if they allow them to take up additional jobs or assignments for supplemental income.

 ‘When Climate Change Turns Violent’ , Indian Documentary Wins WHO Award at HAFF Festival

On 7th June 2023, An Indian documentary film titled “When Climate Change Turns Violent” has won a special prize in the ‘Health for All’ category at the 4th Annual Health for All Film Festival (HAFF) held at the World Health Organisation (WHO) headquarters in Geneva, Switzerland.

• Vandita Sariya from Rajasthan had directed the film which deals with gender-based violence & climate change that runs for 4.32 minutes.She is the only Indian winner among the the winners.
• Two movies from the WHO South-East Asia Region were recognized and received awards at 2023 Health for All Film Festival (HAFF).

• Another film from South East Asia Region to be awarded is Bangladesh documentary film, ‘One in 36 Million: Story of Childhood Lead Poisoning in Bangladesh’ under the category Better Health and Well Being.It was directed by Arifur Rahma and Mitali Das and produced by Pure Earth Bangladesh.

Note – HAFF was initiated by WHO in 2019 to make audio-visual language a key component of the WHO’s ‘communicating for health impact’ approach.

Lalitha Natarajan, Chennai based Lawyer-Activist won the 2023 Iqbal Masih Award for the Elimination of Child LabourIn May 2023, Lalitha Natarajan, Chennai (Tamil Nadu)-based Lawyer-Activist has been awarded the 2023 Iqbal Masih Award for the Elimination of Child Labour for her extraordinary contributions to combat child labour.

• Judith Ravin, the United States of America (USA) Consul General presented the award to Lalitha Natarajan at a ceremony at the U.S. Consulate General in Chennai, Tamil Nadu.

Note: The 2022 Iqbal Masih Award was awarded to Blue Dragon Children’s Foundation (Vietnam).
About Iqbal Masih Award:
The Iqbal Masih Award is a non-monetary award presented annually by the U.S. Secretary of Labor and administered by ILAB’s (Bureau of International Labor Affairs) Office of Child Labour, Forced Labour and Human Trafficking that honours extraordinary contributions to combat child labour.
History of Iqbal Masih Award:
i. The Iqbal Masih Award honours a Pakistani Child named Iqbal Masih, who became a debt slave in a carpet factory in Pakistan at the age of 4, then he escaped his captors at 10.
ii. He became an outspoken public advocate against child exploitation and he gave other children the courage,for which he received the Reebok Human Rights Award in 1994
iii. He was killed a year later at the age of 12 in his native Pakistan.
iv. He is a symbol of the struggle against child labour and in 2000, the first World’s Children’s Prize for the Rights of the Child was given posthumously (after his death) for him.
v. The award commemorates the World Day against Child Labour which is observed every year on 12 June to raise awareness and activism to prevent child labour.
Efforts of Lalitha Natarajan:
i. Lalitha Natarajan has worked passionately throughout her career as a lawyer and activist to protect the rights of child labour.
ii. As a member of the Child Welfare Committee (North Zone), under the Department of Social Defence, Government of Tamil Nadu, she ensures victims receive compensation under the Child Labour Act and Protection of Children from Sexual Offences (POCSO) Act .
iii. As a leader in the fight to end child labour in southern India, she identifies child victims of trafficking, specifically bonded labour, assisting in their re-integration into society.
v. As Project Coordinator with the Non-Government Organisation (NGO) League for Education and Development, she engaged with elected leaders and law enforcement officials to rescue child laborer from stone quarries.
vi. For over two decades, she has rescued children from forced labour in various industrial sectors across the state of Tamil Nadu, ranging from stone quarries to food processing factories to handloom mills.
Note: Her awareness-raising work in Kancheepuram (Tamil Nadu) district enhanced the Tamil Nadu government’s research and reporting capacity, leading to more accurate data and increasing the number of reported child labour cases in the heirloom industry from 6,000 to more than 12,300.

APPOINTMENTS & RESIGNATIONS         

RBI assigns additional responsibilities to 3 Deputy Governors after M K Jain exitOn June 21, 2023, the Reserve Bank of India (RBI) assigned additional responsibilities to three deputy governors after the exit of Mahesh Kumar (MK) Jain from the post of deputy governor. His term expired on June 21, 2023.
Additional Responsibilities assigned to current 3 RBI Governors w.e.f. June 22, 2023:
i.Deputy Governor Michael Debabrata Patra will now look after Department of Co-ordination, Corporate Strategy and Budget Department, Economic and Policy Research, Statistics and Information Management, Deposit Insurance and Credit Guarantee Corporation, Financial Markets Operations and Regulations, Department of International, Monetary Policy and Secretary’s Department.
ii.Deputy Governor T Rabi Sankar has been assigned the responsibility of Central Security Cell, Right to Information (RIA) Division, Currency Management, External Investments & Operations, Government and Bank Accounts, IT, Payments and Settlements System, HRM (Human Resource Management), Foreign Exchange, Internal Debt Management, Premises, and Rajbhasha.
iii.Deputy Governor M Rajeshwar Rao will look into the Department of Consumer Education and Protection, Regulations, Supervision, Communication, Enforcement, Inspection, legal, Risk Monitoring, and Financial Inclusion and Development.
Click Here for full responsibilities
Key Points:
i.On June 20, 2023, the Appointments Committee of the Cabinet (ACC) approved the appointment of State Bank of India’s (SBI) Managing Director Swaminathan Janakiraman to the post of Deputy Governor (DG) of the Reserve Bank of lndia (RBI) for a period of three years, succeeding M K Jain.
ii.According to the RBI Act, of 1934, the central bank should have four deputy governors — two from within the ranks, one commercial banker and an economist to head the monetary policy department.

• The deputy governor appointments are made for an initial period of 3 years, and the person is eligible for reappointment.

About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Establishment – April 1, 1935
Headquarters – Mumbai, Maharashtra 

Petteri Orpo, NCP Party leader elected as New Prime Minister of FinlandOn 20th June 2023, the Parliament of Finland elected Petteri Orpo, conservative National Coalition Party (NCP) leader as Prime Minister (PM) of Finland.

• Petteri Orpo will lead a coalition of the conservative NCP, the nationalist Finns, the minority-language Swedish People’s Party (RKP) and the Christian Democrats.
• Petteri Orpo succeeded Sanna Marin of Social Democrats party, who served as the PM of Finland from 2019-2023.
• Riikka Purra, Head of the Finns Party is the new Finance Minister and Elina Valtonen, Deputy Leader of NCP becomes the Foreign Minister of Finland.

Election:
i. During the April 2023 Parliamentary elections held in April 2023, Petteri Orpo’s NCP got 22% (48 seats) of votes and Finns Party got 21% (46 seats) of votes. Sanna Marin’s Social Democratic party finished third with 20%.
ii. Petteri Orpodecided to build a right-wing coalition with the Finns Party, RKP and the Christian Democrats.
iii. The negotiations between the four parties were successful, the coalition secured a majority of 108 seats in parliament out of 200.
About Petteri Orpo:
i. Petteri Orpo, born on 3 November 1969 in Köyliö, Finland, and his work with the NCP dates back to the 1990s.
ii. He was first elected as a Member of Parliament (MP) in the 2007 elections.
iii. He has served on several committees, including the Foreign Affairs, Finance and Environment Committees and the Parliamentary Office Committee.
iv. He served as Chair of the NCP parliamentary group in 2012–2014.
v. From 2014 to 2015, he served as the Minister of Agriculture and Forestry, in Alexander Stubb’s (Former PM of Finland) Government in 2014–2015.
vi. Under JuhaSipilä’s (Former PM of Finland) Government, he first served as Minister of the Interior in 2015–2016 and then as Minister of Finance in 2016–2019.
About Finland:
Capital– Helsinki
Prime Minister– Petteri Orpo
Currency– Euro

SPORTS

ACC: Asia Cup 2023 to be held in Hybrid Model in Pakistan & Sri Lanka

On 15th June 2023, The Asian Cricket Council (ACC) announced that the 16th edition of Asia Cup (Men’s Asia Cup 2023) will be held in hybrid mode in Pakistan and Sri Lanka from 31st August 2023 to 17th September 2023.

• For the first time since 2008, Pakistan will host a multi-nation cricket competition at home.

Note: Sri Lanka won the Asia Cup 2022 held in Dubai, United Arab Emirates (UAE) by defeating Pakistan in the finals.
Background:
i.Asia Cup 2023 was initially allotted to Pakistan and scheduled to be held in September 2023.
ii.In October 2022, the Board of Control for Cricket in India (BCCI) announced that India will not travel to Pakistan.
iii.Therefore, ACC announced that Asia Cup 2023 will be held in Hybrid mode in which Pakistan Cricket Board (PCB) will remain the event host with Sri Lanka as the neutral venue. 4 matches of the Asia Cup 2023 will be played in Pakistan while Sri Lanka will host 9 games of the event.
About Asia Cup 2023:
i.Men’s Asia Cup 2023 will be held in One Day International (ODI) format.
ii.Teams from India, Pakistan, Sri Lanka, Bangladesh, Afghanistan, and Nepal, will participate in a total of 13 One Day International (ODI) matches (4 matches in Pakistan and 9 matches in Sri Lanka.)
iii.Six teams are grouped into two groups, two teams from each group will qualify for the super four stage. The top two teams from the super four stage will meet in the finals
Note:
Since the Asia Cup 2008, the Indian team has never visited Pakistan due to long-standing geopolitical tensions between the two nations.

• After 2008, both Pakistan and India usually play in neutral venues.

About Asia Cup:
The Asian Cricket Council (ACC) Asia Cup is the only continental cup in cricket and is played among the top teams in Asia.
The event alternates every 2-years between ODI and T20I formats.

• The first Asia Cup was held in Sharjah in the UAE in 1984.

About Asian Cricket Council (ACC):
President – Jay Shah
Headquarters – Kuala Lumpur, Malaysia
Established – 1983

OBITUARY

Pulitzer Prize-winning novelist Cormac McCarthy dies at 89Cormac McCarthy, the Pulitzer Prize-winning American writer, passed away at the age of 89 at his home in Santa Fe, New Mexico, the United States of America (USA). He was born on July 20, 1933, in Providence, Rhode Island, USA.
About Cormac McCarthy:
i. In 1957, Cormac McCarthy started his literary career with short stories such as “A Drowning Incident” and “Wake for Susan”. Both of them got published in the students’ literary magazine known as “THE PHEONIX” at the University of Tennessee, USA.
ii. His first novel, “The Orchard Keeper”, was published by Random House in 1965.
Adaptations:
i.Some of his noted works like “All The Pretty Horses”, “The Road”, and “No Country For Old Men” was adapted into films.
ii.In 2008, the movie based on his novel, “No Country for Old Men” with the same name directed by Joel and Ethan Coen won four Academy Awards (Oscars), including the award for Best Picture.
Notable works:
Some of his notable works includes: Child Of God (1973), Suttree (1979) Blood Meridian (1985), The Stonemason (drama 1994), No Country for Old Men (2005), The Road (2006), The Sunset Limited (2010), Stella Maris (2022)
Awards:
i. In 1992, the first book of his border trilogy “All The Pretty Horses” won the National Book Award
ii. His novel, “The Road”, was awarded the James Tait Black Memorial Prize for Fiction in 2006 and, Pulitzer Prize for Fiction in 2007.

STATE NEWS

Karnataka Govt launched “Brand Bengaluru” portal to seek public suggestion on B’luru development On 21st June 2023, Karnataka Deputy Chief Minister(CM) and Bengaluru Development Minister, DK Shivakumar,  launched a portal ‘Brand Bengaluru‘ and WhatsApp number for people to share suggestions regarding the development of the Bengaluru.

• The public can visit ‘www.brand bengaluru.karnataka.gov.in‘ or contact the WhatsApp number 9480685700 to provide suggestions regarding the development of Bengaluru within June 30, 2023.

Key highlights:
i.A committee of officials, industry leaders, and decision-makers would be constituted to prepare a master plan for development of Bengaluru city in 6 months.
ii.Member of the Legislative Assembly(MLA’s), officers and brand ambassadors of Bengaluru, had suggested high-density corridor, expansion of metro connectivity, monorail, suburban rail, road widening, elevated road, conversion of Nandi Infrastructure Corridor Enterprises (‘NICE’) road into ring road, and construction of tunnel roads in the city to control the traffic.
iii.Their suggestions pertained to cleanliness, environment, waste disposal and sewage management, sewage treatment and recycling, Cauvery water supply, development of slum area, efficient administration and corruption control.
About Brand Bengaluru: 
Brand Bengaluru portal is launched to seek suggestions from people to improve the infrastructure and turn Bengaluru into a Green City.
About Karnataka:
Capital- Bengaluru
Governor- Thawar Chand Gehlot
Chief Minister- Siddaramaiah

*******

List of Current Governors in India – February 2023

List of Current Chief Ministers in India – February 2023

*******

List of Less Important News – Click Here

Current Affairs Today (AffairsCloud Today)