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Union Minister Ashwini Vaishnaw launches Policy & Portal of e-auction for Commercial earning, NFR Contractsi.On June 24, 2022, Union Minister Ashwini Vaishnaw, Ministry of Railways launched e-auction for commercial earning, and Non-Fare Revenue (NFR) contracts, in Rail Bhavan, New Delhi (Delhi).
ii.This launch was made to bring Commercial Earning and NFR contracts under the ambit of electronic auction through Indian Railway e-Procurement System (IREPS), in line with prevailing e-auction of scrap sale.
iii.The e-auction for commercial earning will increase railways earning, and also enhance ease of doing business.
About Ministry of Railways:
Union Minister– Ashwini Vaishnaw, (Rajya Sabha– Odisha)
Ministers of State– Raosaheb Patil Danve (Constituency- Jalna, Maharashtra), Darshana Jardosh (Constituency- Surat, Gujarat)
>> Read Full News
BEL Inks MoU with Belarus Firm for The Supply of Airborne Defense SuiteBharat Electronics Limited (BEL), a defence Public Sector Unit (PSU) under the Ministry of Defence (MoD), Government of India, has signed a Memorandum of Understanding (MoU) with Defense Initiatives (DI), Belarus, and Defense Initiatives Aero Pvt Ltd India, a subsidiary of DI Belarus.
- The MoU calls for the three companies to collaborate on the supply of Airborne Defense Suite (ADS) for Indian Air Force (IAF) helicopters.
- ADS is used for providing protection to helicopters.
The partnership has evolved under the guidance of Sanjay Jaju, Additional Secretary, Department of Defence Production, and the Indo-Belarusian Joint Commission (IBJC) on Military Cooperation.
Features of the MoU:
i. In accordance with the “Make in India” initiative, BEL will serve as the prime contractor and get support from DI with respect to the transfer of technology (manufacturing and maintenance)for supply of advanced electronic Warfare (EW) suite for helicopters.
ii.The MoU also aims to explore various business opportunities for India and global ADS markets.
iii. The MoU was signed in the presence of senior executives including Manoj Kumar, Executive Director (National Marketing), BEL; Roman Komissarow, Deputy Director General, DI; Anurag Bajpai, Joint Secretary (P & C); and others.
About Republic of Belarus:
President – Aleksandr Lukashenko
Capital – Minsk
Currency – Belarusian Ruble
China’s navy has the world’s largest fleet- To build a naval facility in Cambodia
China is secretly building a naval facility on the northern portion of Cambodia’s Ream Naval Base that would help extend its military’s currently limited reach in foreign waters.
i.China commands the world’s largest naval fleet with more than 350 vessels compared to the US Navy has 296 ships and submarines.
ii.China currently has only one foreign naval base at Djibouti in East Africa.
iii.The project in Cambodia would give China a foothold in Southeast Asia and a position in the western region of the South China Sea, part of china’s ambition to grow its military influence worldwide.
BANKING & FINANCE
RBI extends Card Tokenisation Deadline by 3 months till September 30, 2022On June 24, 2022, the Reserve Bank of India (RBI) extended the Card on File (CoF) tokenisation deadline by another three months to September 30, 2022 from June 30, 2022 for all Payment System Providers and Payment System Participants. This direction was issued by RBI under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
- This is the third time RBI has extended the deadline of its implementation.
- Till June 24, 2022, about 19.5 crore tokens have been created.
Reason behind this Extension:
There are some issues highlighted by stakeholders for the implementation of the CoF framework in respect of guest checkout transactions. Also, the number of transactions processed using tokens is yet to gain traction across all categories of merchants. Therefore, this extension will avoid disruption and inconvenience to cardholders.
What are RBI Guidelines for tokenization?
RBI mandated to store customer’s card information in the form of an encrypted form i.e. Card-On-File Tokenisation(COFT) to secure transactions. COF turns sensitive cardholder data into randomly generated 16 digit numbers called “token” with no meaningful value, if breached. These tokens then allow payments to be processed without disclosing any customer details.
- Therefore this mandate disallows businesses, payment aggregators, and acquiring banks from storing customers’ credit/debit/prepaid card information.
- To create a token under the CoFT framework, the cardholder has to undergo a one-time registration process for each card at every online / e-commerce merchant’s website / mobile application, by entering the card details and giving consent for creating a token. This consent is validated by way of authentication through an Additional Factor of Authentication (AFA).
i.CoFT is a voluntary process that means those who do not wish to create a token can continue to transact as before by entering card details manually at the time of undertaking the transaction (commonly referred to as guest checkout transaction).
ii.The first deadline for all stakeholders to ensure full compliance with the tokenization framework was by December 31, 2021.
ECONOMY & BUSINESS
C-DOT & Galore Networks Collaborates to Develop Indigenous 5G RAN Products and Solutions
The Centre for Development of Telematics (C-DOT), the Research & Development (R & D) division of the Department of Telecommunications (DoT), Ministry of Communications, and Galore Networks have signed an agreement to boost indigenous development of end-to-end 5G (fifth generation) Radio Access Network (RAN) products and solutions.
- This agreement, which was made with a private company, is the third of its kind.
Balaji Kulothungan, Director (MD), Galore Networks; Dr. Rajkumar Upadhyay, Executive Director, C-DOT; Aurindam Bhattacharya, Registrar, C-DOT; and S Daniel Jebaraj, Director, C-DoT, Bangalore, Karnataka were the dignitaries present during the signing of the agreement.
- Building strong partnerships with various indigenous 5G ecosystem players, including start-ups and local industries, is a priority for C-DOT.
- For the indigenous development of 5G RAN solutions, C-DOT earlier in June 2022 signed agreements with domestic telecom gear manufacturer VVDN Technologies and Indian Institute of Technology (IIT) – Hyderabad incubator WiSig Networks.
Concrete Goals of This Agreement
i. The partnership will serve as a catalyst for the indigenous design, development, manufacture, and deployment of 5G products and solutions that are cost-effective.
ii.Additionally, by combining their technological know-how and complementary skills, Indian R&D and industry will be able to develop new intellectual property (IP) assets that will open up new opportunities for the extensive and global commercialization of their indigenous technology.
iii. Galore Networks will offer its whole range of commercially field-deployable 4G/5G NSA & SA macro/micro base-stations integrated with the C-DOT 4G/5G NSA (Non-Standalone Access) and SA (Standalone Access) next-generation Core.
iv.The partnership will create 5G products for Indian and global tier-1 telecom operators, critical networks, and private networks, highlighting the underlying potential of India’s immense technological prowess.
About Galore Networks:
Director (MD) – Balaji Kulothungan
Establishment – 2013
Headquarters – Bengaluru, Karnataka
AWARDS & RECOGNITIONS
US-Canadian Author and Zen Buddhist priest Ruth Ozeki won Women’s Prize for Fiction 2022
Ruth Ozeki, American-Canadian author, film-maker and Zen Buddhist priest, has won the Women’s Prize for Fiction 2022 for her novel title “The Book of Form & Emptiness”.
2022 marked the 27th anniversary of the Women’s Prize for Fiction. The award with 30,000 pound (USD 36,000) prize was presented by Mary Ann Sieghart, 2022 Chair of Judges at the award ceremony was held in Bedford Square Gardens, London, the United Kingdom(UK) hosted by novelist and Women’s Prize Founder Director, Kate Mosse.
- The award recognises any woman writing in english irrespective of her nationality, country of residence, age or subject matter.
- The award recognises the novel published in the UK between 1 April in the year the Prize and 31 March the following year.
APPOINTMENTS & RESIGNATIONS
Parameswaran Iyer to take over as CEO of Niti Aayog; Succeeds Amitabh Kant
Appointments Committee of the Cabinet(ACC) has approved the appointment of Parameswaran Iyer, 1981 batch Indian Administrative Service (IAS) officer of Uttar Pradesh(UP) cadre as the Chief Executive Officer(CEO) of NITI Aayog(National Institution for Transforming India) for a period of 2 years or until further orders.
- He takes over as the new CEO of NITI Aayog succeeding Amitabh Kant who is set to complete his 6-year stint as CEO of NITI Aayog by the end of June 2022.
- At Present, Parameswaran Iyer functions as the Programme Manager of 2030 Water Resources Group, a platform hosted by the World Bank for water conservation.
Note: Amitabh Kant, 1980-batch retired IAS officer of Kerala cadre took over as the CEO of NITI Aayog in February 2016 and got three extensions during his tenure. In June 2021 he was given a 1-year extension till June 2022.
About Parameswaran Iyer:
i.Parameswaran Iyer took voluntary retirement from IAS in 2009 after completing his 17 years of service.
ii.After his voluntary retirement he worked with World Bank as a water and sanitation specialist
iii.In 2016, he was appointed as the Secretary of the Ministry of Drinking Water and Sanitation. In 2020 he resigned from the post of Secretary.
iv.He played a major role in the Swachh Bharat Abhiyan aimed to eradicate open defecation by constructing over 90 million toilets in rural India.
v.He has also worked with the government of Uttar Pradesh(UP) led by Mayawati, in the field of education.
About NITI Aayog(National Institution for Transforming India):
NITI Aayog was formed via a resolution of the Union Cabinet on 1 January 2015.
Chairman– Narendra Modi(Prime Minister of India)
Vice Chairman– Suman Bery
Headquarters– New Delhi, Delhi
Avinash Kulkarni CEO of IRARC appointed as CEO of IDRCL; succeeds Manish Makharia
Avinash Kulkarni, Chief Executive Officer(CEO) of India Resurgence ARC (Asset Reconstruction Company) Private Limited (IRARC), has been appointed as the CEO of India Debt Resolution Company Limited (IDRCL) for a period of 3 years. He is set to take over as the new CEO of IDRCL from the current CEO Manish Makharia in July 2022.
- The appointment has been approved by the board of IDRCL.
With this appointment, the key executives are in place to start the consolidation of bad loans from banks through the National Asset Reconstruction Company Limited (NARCL).
Unlike NARCL, IDRCL does not require the approval of the Reserve Bank of India(RBI) for the appointment of its CEO.
About Avinash Kulkarni:
i.He joined India Resurgence Fund (IndiaRF) as the CEO of the IRARC promoted by Piramal Enterprises Limited and Bain Capital Credit in 2018.
ii.Prior to joining IndiaRF, he served as the Chief General Manager Corporate Accounts Group in State Bank of India(SBI).
iii.He has also serve as the Executive Vice President & Group Head of SBI Capital Markets.
- Avinash Kulkarni’s appointment to IDRCL follows the appointment of SBI veteran Natarajan Sundar as the CEO of NARCL in April 2022. He took over as the CEO in May 2022.
- NARCL will acquire the assets at 15% cash with security receipts issued for the remaining 85%, for which the government has approved a 5-year guarantee of Rs 30,600 crore which will backstop banks in case of lower realisations.
About India Debt Resolution Company (IDRCL):
i.IDRCL is a private sector company controlled by private sector banks that own a 51% share. The remaining 49% stake is held by Public Sector Banks (PSBs) and Public Financial Institutes (FIs).
ii.The 7 member board of IDRCL is headed by Diwakar Gupta, former Managing Director (MD) of SBI.
SCIENCE & TECHNOLOGY
Ship-borne weapon system VL-SRSAM successfully flight-tested off Odisha coast
On June 24, 2022, an indigenously developed Vertical Launch Short Range Surface to Air Missile (VL-SRSAM) was successfully flight-tested by the Defence Research and Development Organisation (DRDO) and the Indian Navy (IN) from a warship at Integrated Test Range (ITR), Chandipur off the coast of Odisha.
- The launch of the system was conducted against a high speed aerial target mimicking aircraft, which was successfully engaged.
Features of VL-SRSAM:
i.It is a ship-borne weapon system to neutralize various aerial high-speed airborne targets at the range of 40km to 50km and at an altitude of around 15km including sea-skimming targets.
ii.Its design is based on Astra Mark-1 missile which is a Beyond Visual Range Missile (BVR) Air-To-Air Missile (BVRAAM)
iii.Its two key features of the VL-SRSAM are cruciform wings and thrust vectoring.
iv.It is a canisterised system, which means it is stored and operated from specially designed compartments.
Development of VL-SRSAM:
It is developed by DRDO facilities of Defence Research and Development Laboratory (DRDL) and Research Centre Imarat (RCI), both from Hyderabad (Telangana), and Research & Development Establishment (Engineers) based in Pune (Maharashtra).
Indian Navy inks pact with DG Shipping:
A Memorandum of Understanding has been inked between IN and the Directorate General (DG) of Shipping to facilitate transition of Indian Navy personnel into the merchant navy’s various designations, both in India as well as in shipping companies across the globe.
- Under this, the DG Shipping has envisioned certification of Indian Navy personnel in accordance with the International STCW (Standards of Training, Certification and Watchkeeping for Seafarers) conventions.
- The STCW sets qualification standards for personnel on seagoing merchant ships.
Badminton: Viktor Axelsen, Tai Tzu Ying win singles titles in Indonesia Open 2022
Indonesia Open 2022 was held from June 14 to 19 at Istora Stadium in Jakarta, capital of Indonesia.It was one of the tournaments in 2022 Badminton World Federation (BWF) World Tour. Viktor Axelsen from Denmark and Tai Tzu Ying of Chinese Taipei won the respective men’s and women’s singles titles.
i.Men’s Singles: – Viktor Axelsen from Denmark won Men’s Single title against China’s Zhao Jun Peng and became top in the men’s singles World Tour rankings.
- Indian male shuttler HS Prannoy went semi final and lost his game against China’s Zhao Jun Peng. After this tournament, HS Prannoy lost his top spot and finished second in the men’s singles World Tour rankings.
ii.Women’s Singles: –The second-seed and Tokyo 2020 olympic silver medallist Tai Tzu Ying from Chinese Taipei defeated 2022 Asian champion Wang Zhi Yi of China to claim the women’s singles title.
iii.Men’s Doubles: – Liu Yu Chen and Ou Xuan Yi of China won Men’s doubles against South Korea’s Choi Sol Gyu and Kim Won Ho.
iv.Women’s Doubles : – Matsuyama Nami and Shida Chiharu of Japan won their Indonesia Open women’s double title against Fukushima Yuki and Hirota Sayaka of Japan.
v.Mixed Doubles : – China’s Zheng Si Wei and Huang Ya Qiong won mixed doubles against Watanabe Yuta and Higashino Arisa of Japan in this tournament.
Winners of Indonesia Open 2022
|Men’s Singles||Viktor Axelsen (Denmark)||Zhao Jun Peng (China)|
|Women’s Singles||Tai Tzu Ying (Chinese Taipei)||Wang Zhi Yi (China)|
|Men’s Doubles Title||Liu Yu Chen and Ou Xuan Yi (China)||Choi Sol Gyu and Kim Won Ho (South Korea)|
|Women’s Doubles||Matsuyama Nami and Shida Chiharu (Japan)||Fukushima Yuki and Hirota Sayaka (Japan)|
|Mixed Doubles||Zheng Si Wei and Huang Ya Qiong (China)||Watanabe Yuta and Higashino Arisa (Japan)|
BOOKS & AUTHORS
New Book titled “Gautam Adani: The Man Who Changed India” authored by RN Bhaskar
Business journalist RN Bhaskar has authored a new book titled “Gautam Adani: The Man Who Changed India”, a biography of Gautam Adani, founder and Chairman of Adani Group. The book is published by Penguin Business Imprint, part of Penguin Random House India.
- The book features the unknown aspects of Gautam Adani, one of the richest men in the world and a most successful first generation business leaders.
- RN Bhaskar is the author of “Game India: Seven strategies that could steer India to wealth” (2019).
Day of the Seafarer 2022 – June 25
The United Nations(UN)’s Day of the Seafarer is annually observed across the globe on 25th June to create awareness about the seafarers and the challenges they face. The day also offers a platform to pay tribute to the seafarers recognising the risk they take in the execution of their daily life and their duties in the hostile environment.
- 25th June 2022 marks the observance of the 12th Day of the Seafarer.
- The observance of the Day of the Seafarer is led by the International Maritime Organization (IMO).
- The theme/Campaign theme of Day of the Seafarer 2022 is “Your voyage – then and now, share your journey”.
Resolution 19 was adopted at the IMO’s Conference Of Parties To The International Convention On Standards Of Training, Certification And Watchkeeping For Seafarers(STCW), 1978 (the Diplomatic Conference, held in Manila, the Philippines in June 2010) proclaimed on the 25th June of every year as the “Day of the Seafarer”.
- The first ever Day of the Seafarer was observed on 25th June 2011.
About International Maritime Organisation(IMO):
Secretary-General– Kitack Lim
Headquarters– London, The United Kingdom(UK)
>> Read Full News
World Vitiligo Day 2022 – June 25
World Vitiligo Day(WVD) is annually observed across the globe on 25th June to create awareness about vitiligo, a long-term skin condition caused due to lack of melanin. The day also aims to include recognition of bullying, social neglect, psychological trauma and disability of the people affected by vitiligo.
25th June 2022 marks the observance of the 12th annual World Vitiligo Day.
- Every year WVD is hosted by a different city and the global campaign headquarters of 2022 WVD is hosted by Mexico under the presidency of Prof. Jorge Ocampo Candiani MD, Chair of the Dermatology Department at Hospital Universitario De Nuevo Leon – WVD 2022 President.
The International theme for World Vitiligo Day 2022 is ‘Learning To Live With Vitiligo’.
World Vitiligo Day(WVD) is also known as ‘Vitiligo Awareness Day’ or ‘Vitiligo Purple Fun Day’, as purple is the official colour representing the condition.
i.The idea of World Vitiligo Day was initiated by Steve Haragadon, the founder of the Vitiligo Friends network, and developed by Ogo Maduewesi, a Nigerian vitiligo patient & the founder and Executive Director of the Vitiligo Support and Awareness Foundation (VITSAF).
ii.The first ever World Vitiligo Day was observed on 25th June 2011 in memory of American singer and songwriter late Michael Jackson “the King of Pop” and his struggle with vitiligo.
i.Vitiligo also called leucoderma is a skin disorder characterized by patches of the skin losing their pigment.
ii.The word vitiligo is derived from “vitium”, meaning “defect” or “blemish”.
iii.It is an acquired, idiopathic, and worldwide common depigmentation disorder with an estimated prevalence from 0.1 to 8%.
TN CM Stalin Inaugurated Tamil Nadu Advanced Manufacturing Conclave 2022
On June 24, 2022, MK Stalin, the Chief Minister (CM) of Tamil Nadu (TN), launched a number of initiatives during the Tamil Nadu Advanced Manufacturing Conclave 2022 at Taramani, Chennai, TN, to help industry adopt new technology and remain competitive.
- By 2030, the State of TN aspires to have a USD 1 trillion economy with a USD 250 billion manufacturing sector.
Initiatives Launched at Tamil Nadu Advanced Manufacturing Conclave 2022
i. Tamil Nadu Centre of Excellence in Advance Manufacturing (TANCAM), India’s first of its kind Center of Excellence (CoE), was inaugurated in the TIDEL Park at Taramani in Chennai, Tamil Nadu.
- It is a Rs. 212 crore joint venture between the Tamil Nadu Industrial Development Corporation (TIDCO) and the French firm Dassault Systems.
Significance Of the Initiatives:
i.TANCAM will offer a dedicated IT (Information technology) engineering ecosystem, to serve the Micro, Small and Medium Enterprises (MSME) industry and students.
- It will enable the growth of various industries like aerospace, defence, automotive and electric vehicles.
- It will also provide the state with the latest technologies, such as the 3D experience platform.
About Tamil Nadu:
Governor – Ravindra Narayana Ravi
Dance – Ottan Koothu; Poikkal Kuthirai Aattam or Koothu; Kazhai Kothu
>> Read Full News
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Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 26 & 27 June 2022|
|1||Union Minister Ashwini Vaishnaw launches Policy & Portal of e-auction for Commercial earning, NFR Contracts|
|2||BEL Inks MoU with Belarus Firm for The Supply of Airborne Defense Suite|
|3||China’s navy has the world’s largest fleet- To build a naval facility in Cambodia|
|4||RBI extends Card Tokenisation Deadline by 3 months till September 30, 2022|
|5||C-DOT & Galore Networks Collaborates to Develop Indigenous 5G RAN Products and Solutions|
|6||US-Canadian Author and Zen Buddhist priest Ruth Ozeki won Women’s Prize for Fiction 2022|
|7||Parameswaran Iyer to take over as CEO of Niti Aayog; Succeeds Amitabh Kant|
|8||Avinash Kulkarni CEO of IRARC appointed as CEO of IDRCL; succeeds Manish Makharia|
|9||Ship-borne weapon system VL-SRSAM successfully flight-tested off Odisha coast|
|10||Indonesia Open 2022: Viktor Axelsen retains men’s singles title; Tai Tzu Ying won women’s singles|
|11||New Book titled “Gautam Adani: The Man Who Changed India” authored by RN Bhaskar|
|12||Day of the Seafarer 2022 – June 25|
|13||World Vitiligo Day 2022 – June 25|
|14||TN CM Stalin Inaugurated Tamil Nadu Advanced Manufacturing Conclave 2022|