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Current Affairs 23 June 2022

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PM Narendra Modi visited Bengaluru to inaugurate Various Projects; participates in Mass Yoga DemonstrationPM Modi inaugurates various projects on his Bengaluru visit

i.On June 20-21, 2022, the Prime Minister (PM) of India, Narendra Modi was on a two-day visit to Bengaluru, Karnataka to lay the foundation stone of multiple rail and road infrastructure projects worth over Rs 28000 crore.
ii.He also led the Mass Yoga Demonstration at Mysore Palace ground, Mysuru on the occasion of 8th International Day of Yoga (June 21, 2022) which was held on the theme ‘Yoga for Humanity’.
iii.The PM Dedicated to the Nation, India’s first Air Conditioned Railway Station – Sir M Visvesvaraya Railway Station at Baiyappanahalli, which is developed on the lines of a modern airport at a total cost of around Rs 315 crore.
iv.He inaugurated the Centre for Brain Research (CBR) in Indian Institute of Science (IISc) Bengaluru,  which is one of its kind research facility and focuses on conducting vital research to manage age-related brain disorders.
About Karnataka:
Governor– Thawarchand Gehlot
Folk Dance– Yakshagana, Dollu Kunitha
International Airports– Kempegowda International Airport, Bengaluru , and Mangalore Airport/Bhajpe Airport
>> Read Full News

MCA notifies National Financial Reporting Authority Amendment Rules 2022

The Ministry of Corporate Affairs (MCA) has amended the National Financial Reporting Authority (NFRA) Rules 2018 with ‘NFRA Amendment Rules 2022’ w.e.f. June 17, 2022, by exercising the powers conferred by sub-sections (2) and (4) of section 132, sub-section (1) of section 139 and sub-section (1) of section 469 of the Companies Act, 2013 (18 of 2013).

  • This move rationalizes the penalty provision for certain contraventions aimed at encouraging compliance.

What are the amendments?
i.The non-compliance will attract penalty of Rs 5,000 and where the contravention is a continuing one, a further fine of Rs 500 for everyday during the period of contravention.

  • This applies to offences for which penalty is not specified elsewhere in the law.

ii.It also drops a reference to section 450 of the Companies Act which specifies a cap of Rs 200,000 in the case of a company and Rs 50,000 for an officer in default or any other person for offences that persist.

  • While the reference to the upper limit for continued offence has been dropped, the fine specified in the new rules for the first instance of the breach and for each day of continued offence is less than the maximum that the law allows. Section 450 of the Companies Act allows a maximum of Rs 10,000 at the first instance and Rs 1000 for every day during the period in which the breach continues.

Click Here for Official Notification 

Gujarat becomes India’s 1st State to launch Balika PanchayatGujarat becomes first State in the country to launch Balika Panchayat

Gujarat has become India’s firstever State to launch Balika Panchayat (girl Panchayat) to promote the social and political development of girl children and to eliminate the evil practices, such as child marriage and the dowry system, from society.
Aim: To address the female adolescent issues, of the girls, by the girls, for the girls and to develop leadership qualities in the girls for future panchayat polls.
Balika Panchayat:
i.Balika Panchayat initiative has been started in Kunaria, Maska, Motagua, and Vadsar villages of Kutch district of Gujarat.
ii.This is an initiative of the Women and Child Development Welfare department of the Gujarat Government under the ‘Beti Bachao Beti Padhao’ campaign.
iii.The girls-only council will run parallel to the adult village versions but addresses issues related to girls and women only in the village.
Member of Balika Panchayat:
i.The members of Balika Panchayat are nominated just like Gram Panchayat.
ii.Members of the Balika Panchayat will be elected from 6 wards. The 6 members have been elected unanimously uncontested.
iii.The contestants were young females aged between 10 and 21 years.
Note: The first-ever elections of Balika Panchayat elections were successfully held at Kunariya village (Kutch, Gujarat). Urmi Ahir(20 years) was named as the sarpanch of the Balika Panchayat started in Kutch.
About Gujarat: 
Chief Minister– Bhupendra Rajnikant Patel
RAMSAR sites– Nalsarovar
Dams– Sardar Sarovar Dam; Nyari Dam

SRS Data: India’s Life Expectancy at Birth Increases to 69.7; Still Below Global Average of 72.6India's Life Expectancy at Birth Grows by 2 Years to 69.7 in 2015-19

According to the data from Sample Registration System (SRS)-Abridged Life Tables 2015-2019, released by the Registrar General & Census Commissioner, India’s life expectancy at birth has increased up to 69.7 from 2015-2019 period and is still lower than the global average of 72.6.

  • India has increased its life expectancy at birth by 20 years, from 49.7 in 1970-75 to 69.7 in 2015-2019.
  • In 2015-19, the highest life expectancy at birth has been estimated for NCT of Delhi with 75.9 years, while Chhattisgarh with 65.3 years, has the lowest life expectancy at birth.

iii.At the national level, the life expectancy at birth for males has been estimated at 68.4 years and that for females, at 71.1 years.

  • Expectation of life at birth is highest in Delhi (74.3 years) for males and in Kerala (78.0 years) for females, whereas it is lowest in Chhattisgarh (63.7 years) for males and Uttar Pradesh (66.2 years) for females.

About Ministry of Home Affairs (MoHA):
Union Minister – Amit Shah (Constituency- Gandhinagar, Gujarat)
Minister of state – Nityanand Rai, Ajay Kumar Mishra, Nisith Pramanik
>> Read Full News


WGC report: India Ranks 4th in Gold Recycling with Refining Capacity of 1,800 tonnesIndia ranks 4th in gold recycling with refining capacity of 1,800 tonnes

According to the World Gold Council (WGC) report titled ‘Gold refining and recycling,’ India has ranked 4th in global gold recycling in 2021 recycling 75 tonnes, or 6.5 per cent of the total gold recycled across the globe. The report estimates that between 2013 and 2021, India’s gold refining capacity has increased by 1500 tonnes (500%) to 1800 tonnes.

  • According to the WGC report, China tops the global gold recycling in 2021 as it recycled 168 tonnes of gold, followed by Italy with 80 tonnes and the United States of America(USA) at 3rd with 78 tonnes.

About World Gold Council (WGC):
Chair– Randy Smallwood
CEO– David Tait
Headquarters– London, United Kingdom(UK)
>> Read Full News


RBI extends Deadline by 3 months to October 1 2022 for Implementing Card RulesRBI extends deadline by 3 months to October 1 2022 for implementing card rules

i.On June 21, 2022, the Reserve Bank of India (RBI) extended the timeline for implementation of certain provisions of the master directions it issued on issuance of debit cards and credit cards by three months from July 1, 2022 to October 1, 2022. Click here to read RBI Directions on Credit and Debit Cards- Issuance and Conduct Directions, 2022
ii.This extension will provide more time to card issuers to implement the three provisions as part of RBI’s new regulatory guidelines for issuing credit and debit cards.
iii.According to information sourced through RTI (Right to Information) from the Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), the selling price of bank notes in the denomination of Rs 20, Rs 50, Rs 100 and Rs 200 has increased in FY22 while for Rs 500, it remained unchanged.
Static Info:
i.There are four printing presses in India, of which two are owned by the RBI through its wholly owned subsidiary, Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), while the remaining two come under the ownership of the Central government, operated through its wholly owned company, Security Printing & Minting Corporation of India Limited (SPMCIL).
ii.BRBNMPLpresses are situated in Mysuru (Karnataka) and Salboni (West Bengal) while SPMCIL presses are located at Nasik (Maharashtra) and Dewas (Madhya Pradesh).
iii.Colour Shift Intaglio Ink (CSII), a security feature used in Indian banknotes that was imported earlier, is now being indigenously manufactured at Varnika, the ink manufacturing unit at BRBNMPL, Mysuru.
>> Read Full News

CARD91 Partners with YES BANK & RuPay to Help Simplify Payment ManagementCARD91, a global Payment Issuance Infrastructure company

CARD91, a Bengaluru (Karnataka)-based global payment infrastructure facilitating B2B (business-to-business) payments, announced a strategic partnership with YES BANK and RuPay, the flagship product of National Payments Corporation of India (NPCI).
With this partnership, businesses will be able to introduce a range of co-branded card instruments and maintain a real-time dashboard to provide insights by employing the scalable CARD91 infrastructure.

  • CARD91 will be able to increase its footprint in the Indian payments market as a result of this partnership.
  • It is also in discussion with other brands about co-branded instruments.

Significance of the Partnership
i. Through this partnership, CARD91 will be able to provide businesses in India with a flexible approach to manage their payments that is both simple and secure.
ii.Businesses will now be able to choose between co-branded and non-branded card instruments, providing them with an innovative solution to suit specific uses.
Specifications of the Service Offered by CARD91
i. Card91 is a plug-and-play payment infrastructure designed to assist businesses with the launch of co-branded cards and payment simplification.
ii.It offers a seamless process for the launch of co-branded payment cards by managing compliance, regulation, infrastructure, lending, issuance, and customer service.
iii. CARD91 optimises launch time, costs, and offers real-time insights and data on card instruments.
iv.Businesses may track their payment flows using CARD91, from account onboarding to transaction processing and data reconciliation.
v.Along with supporting card-based lending, banks can provide their customers with access to cutting-edge payment options.
About CARD91:
Co-founders: Ajay Pandey, Kush Srivastava, and Vineet Saxena
Founded in – 2020
Headquarters – Bengaluru, Karnataka

South Indian Bank Launches EXIM Trade Portal, ‘SIB TF Online’South Indian Bank launches EXIM trade portal, SIB TF Online

South Indian Bank (SIB) has introduced a new portal named SIB TF Online, for its corporate EXIM (Export-Import) customers.

  • The ‘SIB TF Online’ portal facilitates a platform for trade-related payments to foreign entities remotely.

SIB TF Online is hosted on the home page of Corporate Internet Banking (SIBerNet) and will allow corporates to transact 24×7 in a secure and paperless manner.

  • The establishment of this portal is a significant step toward the digitalization of corporate cross-border trade operations, which means they no longer need to visit branches to begin international business transactions.
  • The customer can initiate a payment request through SIB TF Online after submitting the relevant transactional supporting documents.

Key Points:
i. SIB intends to roll out SIB TF Online in phases, with the first phase supporting three types of import payments, including

  • Advance remittance for Imports
  • Remittance against import bill received from overseas bank for collection (Bank-to-Bank Foreign Inward Collection Bill) and
  • Payment against Import documents received by the importer directly from overseas suppliers

ii.The portal would facilitate all other forex transactions in the future phases.
iii. The debut of SIB TF Online is just another achievement in the bank’s efforts to make its operations more technologically advanced.

  • SIB has recently launched an internet banking facility targeting retail savings and NRE SB [Non-Resident (External) (NRE)-Savings Bank (SB)] customers to initiate foreign remittances without visiting the branch.

About South Indian Bank (SIB):
MD & CEO – Murali Ramakrishnan
Headquarters – Thrissur, Kerala
Tagline – Experience Next Generation Banking

Freo Partners with Equitas Small Finance Bank to Launch Digital Savings AccountFreo partners with Equitas Small Finance Bank to launch digital savings account

On 21st June 2022 Freo, a bengaluru-based neobanking platform in partnership with Equitas Small Finance Bank launched its digital savings account Freo Save’.

  • The neobank is planning to open one million new accounts in the next ten months.
  • With the launch of Freo Save, it has become the 1st consumer neobank in India to provide full-stack neo-banking products, including smart savings account, credit and payments products, cards and wealth-growth products.

About Freo Save App:
i.Freo Save App is 100 percent digital with seamless Unified Payments Interface (UPI) integration which offers quick access to credit & shopping by providing up to 7 percent interest on customer savings for balances above Rs.5 lakh up to Rs.2 crore.
ii.Freo Save will be available in multiple Indian languages, including English, Hindi, and Tamil.
About Freo:
Freo is India’s first credit-led neobank which was started as MoneyTap in 2016.
Co-Founder – Anuj Kacker
Headquarters – Bengaluru, Karnataka

Max Life Partners with Policybazaar to Launch Life Insurance Savings PlanMax Life, Policybazaar launched Max Life Smart Fixed-return Digital Plan

Max Life Insurance Company Limited partnered with to launch the ‘Max Life Smart Fixed-return Digital Plan’, a non-linked, non-participating, short-term individual life insurance savings plan with a minimum policy tenure of 5 years.

  • The policy offers guaranteed tax-free returns up to 6.14% along with life cover protection at a monthly premium of Rs.3000.
  • The policy can be purchased on both Max Life’s website and

Key features:
i.The on-boarding process is made simple along with instant confirmation of policy issuance.
ii.Fully guaranteed returns payable at maturity and flexibility to pay premiums monthly or annually for just 5 years
iii.Flexibility to choose between different variants including tax benefits on premiums paid and tax-free maturity benefits, depending on the chosen variant, as per prevailing tax laws.
iv.Special benefits for women customers – 0.25% additional maturity benefit for 5 years’ policy term and 0.5% for 10 years’ policy term.
v.Option of taking a loan against policy in case of financial emergencies
About Max Life Insurance Company Limited:
Managing Director (MD) & CEO – Prashant Tripathy
Headquarters – Gurugram, Haryana

US Announces USD 122 Million Fund for India to Address Challenges Posed by Infectious Diseases

The Centres for Disease Control and Prevention (CDC) of the United States (US) has announced a funding of about USD 122 million (USD 122,475,000) to top three Indian medical research institutions: Indian Council of Medical Research (ICMR) in New Delhi, Delhi, National Institute of Virology (NIV) in Pune, Maharashtra and National Institute of Epidemiology (NIE) in Chennai, Tamil Nadu.

  • The single-source funding will continue to assist the ICMR institutions’ cooperation and competence to prevent avoidable epidemics, early detection of disease threats, and rapid and effective response.

Tenure & Funding
i. The overall funding period will be 5 years, from September 30, 2022 to September 29, 2027.
ii.The CDC allocated USD 8,165,000 in Federal Fiscal Year (FFY) 2022 funding per institution, with an expected total funding of USD 24,495,000 for 3 institutions per year.

  • The total estimated funding for the 5-year performance period is USD 122,475,000, which will be distributed to the three institutions subject to fund availability.

The funding will expedite progress toward an India, which is free of infectious disease threats through the focus of ICMR institutes on emerging and re-emerging pathogens.

  • The most important ones are evaluating vaccine safety monitoring systems, equipping the public health workforce for field epidemiology and outbreak response, detecting and controlling zoonotic disease outbreaks using a One Health approach, and combatting antimicrobial resistance.

Key Points:
i. Eligibility for funding is limited to the ICMR in New Delhi, the apex governing body for the numerous national level institutes, including the NIV in Pune and the NIE in Chennai.
ii.These institutions are designated by the Government of India’s Ministry of Health and Family Health and Welfare (MoHFW) to offer tiered oversight for laboratory confirmation of priority pathogens in India.
iii. They will also collect and analyze surveillance data for public health actions and work closely with the state governments where these institutions are located.

  • The ICMR is in a unique position to carry out this work because it was initially founded as an apex agency for the formulation, coordination, and promotion of biomedical research in India.
  • It has recently assumed responsibility for the majority of laboratory-based infectious disease surveillance.


Odisha’s Shreya Lenka becomes 1st Indian K-pop artiste

Shreya Lenka (Stage-name Sriya), 18 years old from Odisha, India has become the first-ever k-pop artiste from India. She is one of the 2 new members to join the South Korean girl group called “Black Swan” formed by DR Music.

  • Gabriela Dalcin (Gabi) from Brazil will be the 6th member of the group.
  • Sriya and Gabi are the 1st generations of the Cygnus, a programme organised by DR Music to discover and train new singers from around the world.


Ruchira Kamboj Becomes next Permanent Representative of India to the UN

On June 21, 2022 Senior diplomat Ruchira Kamboj was appointed as India’s Permanent Representative to the United Nations (UN) in New York.

  • She is the 1st female Ambassador of India to the Kingdom of Bhutan and will succeed T S Tirumurti as the Indian ambassador to the UN.

About Ruchira Kamboj:
i.Ruchira Kamboj is a 1987-batch Indian Foreign Service (IFS) officer, presently serving as India’s envoy to Bhutan.

  • She was the All India women’s topper of the 1987 Civil Services batch and the topper of the 1987 Foreign Service batch.

ii.Ruchira Kamboj was posted as Counsellor at India’s Permanent Mission to UN in New York from 2002-2005, where she dealt with issues related to UN Peacekeeping, UN Security Council reform, the Middle East crisis.

  • During the period 2006-2009, she was India’s Consul General in Cape Town, South Africa.
  • India is in the second year of a two-year term as a non- permanent member of the Security Council.

About United Nations (UN):
Secretary General – Antonio Guterres
Establishment – 1945
Headquarters – New york, United states (US)
Member states – 193 


DBS Bank India Acquires 9.9% Stake in NBFC Svakarma FinanceDBS Bank India acquires 9.9% stake in Svakarma Finance

DBS Bank India Limited (DBIL) has acquired a 9.9 percent stake in Svakarma Finance, a Non-Banking Finance Company (NBFC), to deliver financial solutions to micro enterprises through a combination of direct lending and co-lending.
i.In 2020, DBIL had taken over domestic private sector lender Lakshmi Vilas Bank (LVB) at the request of the Reserve Bank of India (RBI).
ii.Svakarma is a non-deposit-taking NBFC, set up by former bankers to target micro-enterprises using an industry segment and cluster-focused delivery model.
About DBS Bank India Limited (DBIL):
DBIL was among the 1st foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary.
Managing Director & CEO – Surojit Shome
Establishment – 1994
Headquarters – Mumbai, Maharashtra 


South Korea Launches its 1st Homegrown rocket – Nuri South Korea launches first satellite with homegrown rocket

South Korea launched its first indigenously built space rocket – Korea Satellite Launch Vehicle (KSLV) II, called as “Nuri”, from Naro Space Center at a launch site in Goheung, Jeollanam-do Province, South Korea. In Korean, the word Nuri means ‘world’.
Note: Naro Space Center is a state-run centre operated by the Korea Aerospace Research Institute (KARI) in Goheung, South Jeolla Province.
Key Points:

  • With this launch, South Korea has become the World’s 10th nation to place a satellite into space with its own technology.
  • South Korea has also become the 7th country to develop a space launch vehicle that can carry a satellite weighing more than 1 ton, after Russia, the United States(US), France, China, Japan and India.
  • This is set to boost South Korea’s ambition to land a lunar module on the moon by 2031.

About Nuri:
i.Nuri is developed with the indigenous rocket technologies of South Korea, from designing and manufacturing to testing and launching.
ii.Since 2010, The country has invested a total of 1.96 trillion Won (USD 1.7 billion) in the Nuri Development Project.
iii.Around 300 domestic companies including Hanwha Aerospace Co participated in assembling the 75-ton liquid propellant rocket engines.
i.Nuri is a 3-stage rocket developed to put a 1.5-ton satellite into the low orbit of 600-800 kilometres above the Earth.
i.Nuri, the 47.2-meter-long, 200-ton space rocket has a maximum diameter of 3.5 meters and uses four 75-ton liquid thrust engines in the first stage, a 75-ton liquid engine in the second stage, and a 7-ton liquid engine in the third stage.
iii.During the launch, the rocket carried a 1.3-ton dummy satellite into space.


Indian javelin ace Neeraj Chopra won Gold at Kuortane Games 2022, Finland

Indian javelin ace and Olympic Gold Medalist Neeraj Chopra has won the gold medal by winning the Javelin throw event (86.69 meters) at the Kuortane Games 2022 in Kuortane, Finland. This marks the first top podium finish of the season. He won the gold defeating reigning world champion Anderson Peters of Grenada.
Trinidad and Tobago’s Keshorn Walcott (86.64 meters), champion of the 2012 Olympics(London), has secured 2nd place and Anderson Peters (84.75 meters) secured the 3rd.

  • Neeraj Chopra’s previous national record was 88.07 meters, set in Patiala in March 2021.
  • He won the Gold medal in the Tokyo Olympics with a throw of 87.58 meters on 7th August 2021.


UN’s First International Day for Countering Hate Speech – 18th June 2022

First International Day for Countering Hate Speech - June 18 2022The United Nations(UN) observed the first-ever annual International Day for Countering Hate Speech on 18th June 2022. The day aims to highlight the exponential spread and proliferation of hate speech across the globe.
i.The United Nations General Assembly(UNGA) adopted the resolution A/RES/75/309 on 21st July 2021 and proclaimed the 18th June of every year as the International Day for Countering Hate Speech.
ii.The resolution also aims to promote interreligious and intercultural dialogue and tolerance in countering hate speech.
i.International Day of Countering Hate Speech is an initiative that builds on the UN Strategy and Plan of Action on Hate Speech launched on 18th June 2019.
>> Read Full News

Indian Army’s Northern Command celebrates 51st Raising Day

On 17th June 2022, The Northern Command of the Indian Army celebrated its 51st Raising Day at its headquarters in Udhampur district, Jammu and Kashmir(J&K). General Officer Commanding-in-Chief, Northern Command, Lt Gen Upendra Dwivedi encouraged all the ranks to dedicate themselves to safeguarding national integrity and to perform their duties with fortitude, dedication and professionalism.

  • The Northern Command, raised on 17th June 1972, has been at the forefront of India’s effort to counter security challenges posed by terrorism and externally sponsored proxy war in Jammu and Kashmir.


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S.noCurrent Affairs 23 June 2022
1PM Narendra Modi visited Bengaluru to inaugurate Various Projects; participates in Mass Yoga Demonstration
2MCA notifies National Financial Reporting Authority Amendment Rules 2022
3Gujarat becomes India’s 1st State to launch Balika Panchayat
4SRS Data: India’s Life Expectancy at Birth Increases to 69.7; Still Below Global Average of 72.6
5WGC report: India Ranks 4th in Gold Recycling with Refining Capacity of 1,800 tonnes
6RBI extends Deadline by 3 months to October 1 2022 for Implementing Card Rules
7CARD91 Partners with YES BANK & RuPay to Help Simplify Payment Management
8South Indian Bank Launches EXIM Trade Portal, ‘SIB TF Online’
9Freo Partners with Equitas Small Finance Bank to Launch Digital Savings Account
10Max Life Partners with Policybazaar to Launch Life Insurance Savings Plan
11US Announces USD 122 Million Fund for India to Address Challenges Posed by Infectious Diseases
12Odisha’s Shreya Lenka becomes 1st Indian K-pop artiste
13Ruchira Kamboj Becomes next Permanent Representative of India to the UN
14DBS Bank India Acquires 9.9% Stake in NBFC Svakarma Finance
15South Korea Launched its 1st Homegrown rocket – Nuri
16Indian javelin ace Neeraj Chopra won Gold at Kuortane Games 2022, Finland
17UN’s First International Day for Countering Hate Speech – 18th June 2022
18Indian Army’s Northern Command celebrates 51st Raising Day