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NATIONAL AFFAIRS
MoHUA celebrated 9th Anniversary of AMRUT, Smart Cities Mission, and PMAY-U
i.On June 25, 2024, the Ministry of Housing and Urban Affairs (MoHUA) celebrated the 9th anniversary of three key initiatives: the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), the Smart Cities Mission, and Pradhan Mantri Awas Yojana – Urban (PMAY-U).
ii.It was attended by Smt D Thara, Additional Secretary, AMRUT; and Kuldeep Narayan, Joint Secretary, PMAY- Urban, among other officials.
iii.Launched on June 25, 2015, by Prime Minister Narendra Modi, these programs have significantly enhanced urban infrastructure and improved the quality of life for millions in India.
iv.AMRUT 2.0, an extension of the original AMRUT mission, focuses on enhancing urban infrastructure, particularly in water supply, sewerage, and water body rejuvenation.
v.PMAY-U aims to provide all-weather pucca houses with basic amenities to urban India’s eligible beneficiaries.
vi.The Smart Cities Mission has transformed 100 cities through over 8,000 projects totaling approximately Rs 1.6 lakh crore.
About Ministry of Housing and Urban Affairs (MoHUA):
Union Minister– Manohar Lal Khattar (Constituency- Karnal, Haryana)
Minister of State (MoS)– Tokhan Sahu (Constituency- Bilaspur, Chhattisgarh)
>> Read Full News
109th Foundation Day of ZSI: MoEF&CC Launched Fauna of India Checklist Portal
On 30th June 2024, Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC) launched the ‘Fauna of India Checklist Portal,’ the 1st comprehensive document on the faunal species reported from India.
- The checklist was launched during the event organised to celebrate the 109th Foundation Day of the Zoological Survey of India (ZSI) in Kolkata, West Bengal.
- With this, India becomes the 1st country to prepare a comprehensive checklist of its entire fauna, covering 1,04,561 species.
i.On 30th June 2024, The Union Minister inaugurated the Animal Taxonomy Summit-2024, the 2nd summit organised by the ZSI. The 3-day summit concluded on 3rd July 2024.
ii.Union Minister launched ‘Animal Discoveries–2023’ of ZSI, comprising 641 new animal species and ‘Plant Discoveries-2023’ of the Botanical Survey of India (BSI), comprising 339 taxa.
About the Zoological Survey of India (ZSI):
Director– Dhriti Banerjee
Headquarters– Kolkata, West Bengal
Established in 1916
>> Read Full News
EPFO Gross New Members Addition Dips 4% to 10.9mn FY24: MoSPI Report
The Ministry of Statistics and Programme Implementation (MoSPI) released a report titled ‘Payroll Reporting in India: An Employment Perspective January to April, 2024‘ which highlights a decline in gross new subscribers/members addition to the Employees’ Provident Fund Organisation (EPFO) for the Fiscal Year 2023-24 (FY24) by over 4% to 10.9 million as compared to FY 2022-23 (FY23).
- EPFO recorded 10,993,119 gross additions of new members FY24 as compared to 11,498,453 in FY23.
Key Points:
i.The COVID-19 pandemic significantly affected the addition of new members. The numbers declined from 11,040,683 in 2019-20 to 8,548,898 in 2020-21.
ii.A recovery was seen in 2021-22 with 10,865,063 new members, but the pre-COVID level of 2018-19, which was 13,944,349, has not been reached since.
iii.The Employees’ State Insurance Corporation (ESIC) also saw a slight dip in new member additions to 16,760,672 in 2023-24 from 16,773,023 in 2022-23.
iv.On the other hand, the National Pension Scheme (NPS) saw an increase in new subscribers, rising to 937,020 in 2023-24 from 8,24,735 in 2022-23.
Statistics:
Since April 2018, MoSPI has been releasing employment-related statistics for the formal sector, covering periods from September 2017 onwards. This includes data on subscribers to the Employees’ Provident Fund (EPF), Employees’ State Insurance (ESI), and the NPS.
About Ministry of Statistics & Programme Implementation (MoSPI):
Minister of State (MoS)– Rao Inderjit Singh (Constituency- Gurugram, Haryana)
1st International Conference on Steel Slag Road: Guidelines for Utilization of Steel Slag in Road Construction Released
Dr Vijay Kumar Saraswat, Member (Science) of the NITI Aayog(National Institution for Transforming India) released the ‘Guidelines for Utilization and Processing of Steel Slag’ as Processed Steel Slag Aggregates in Road Construction during the 1st International Conference on Steel Slag Road held in New Delhi, Delhi.
- The Conference was jointly organised by the Council of Scientific & Industrial Research (CSIR)-Central Road Research Institute (CRRI) and the PHD Chamber of Commerce and Industry (PHDCCI), a National Apex Chamber,
i.The guidelines developed by the CRRI provide a comprehensive framework for the effective and safe use of different types of steel slag in various types of road construction works.
ii.This also includes detailed framework for proper handling and storage of steel slag to prevent environmental contamination.
BANKING & FINANCE
RBI joins Project Nexus to Enable Instant Cross-Border Retail Payments
On July 1, 2024, the Reserve Bank of India (RBI) has joined Project Nexus, a multilateral international initiative aimed at facilitating instant cross-border retail payments by interlinking domestic Fast Payments Systems (FPSs) through a unified platform.
What is Project Nexus?
Project Nexus is conceptualized by the Innovation Hub of the Basel, Switzerland-based Bank for International Settlements (BIS) to streamline and standardize the connection between domestic Instant Payment Systems (IPS) worldwide.
- It is the first BIS project in payments moving towards live implementation.
- It focuses on creating a single, standardized connection that allows various payment systems to interact seamlessly across borders.
- This approach is expected to accelerate the growth of instant cross-border payments by making them efficient, faster, simplified, and more cost effective.
Key Points:
i.It aims to connect the FPSs of Malaysia, Philippines, Singapore, Thailand, and India as the founding members, and first mover countries of the platform.
ii.An agreement for the same was signed by the BIS and the Central Banks of the founding countries viz. Bank Negara Malaysia (BNM), Bank of Thailand (BOT), Bangko Sentral ng Pilipinas (BSP), Monetary Authority of Singapore (MAS), and the RBI on June 30, 2024, in Basel, Switzerland.
- Indonesia, will be involved as a special observer.
iii.The platform is expected to go live by 2026, with the potential for future expansion.
Click Here for Official Release
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment– 1st April 1935
Headquarters– Mumbai, Maharashtra
SBI Launched “MSME-Sahaj” Web-Based Digital Business Loans Solutions for MSMEs invoice Financing
State Bank of India (SBI), India’s largest Public Sector Bank (PSB), has launched “MSME-Sahaj”, web-based digital business loans solutions for Micro, Small and Medium Enterprises (MSMEs) invoice financing.
Objective: To offer “on tap” short-term credit to meet the capital needs of MSME units who are part of Goods and Services Tax (GST) regime.
About MSME-Sahaj:
i.It is a data-driven invoice financing credit assessment engine which will provide complete solution from applying the loan, documentation and disbursement of the sanctioned loan within 15 minutes.
ii.Using MSME Sahaj, the SBI customers can avail finance or loan against their GST-registered sales invoices of up to Rs 1 lakh.
iii.MSME-Sahaj is based on a Machine Learning (ML) model and uses authentic data from GST Identification Number (GSTIN), bank statements of customers,Credit Information Company (CIC) data, among others.
iv.The existing MSME customers of SBI can access this product through You Only Need One (YONO) app, digital application of SBI and will address the liquidity concerns of MSMEs to unlock the cash flows instantly.
v.The product will also cater to the sole proprietorship non-credit customers of SBI based on the satisfactory current account with the bank.
About State Bank of India(SBI):
Chairman– Dinesh Kumar Khara
Headquarters- Mumbai, Maharashtra
Tag line–“The Banker to Every Indian”
Founded– 1st July 1955
DBS Bank India Partnered with RXIL to Offer Pre-shipment Financing for MSMEs
DBS Bank India is set to launch a pre-shipment financing solution to empower small and medium enterprises (SMEs) in India, in partnership with Receivables Exchange of India Ltd (RXIL), the first Reserve Bank of India-licensed exchange platform under the Trade Receivables electronic Discounting System (TReDS).
- DBS Bank India will be the 1st bank to partner with RXIL to offer end-to-end supplier financing and this offering will be particularly relevant for the Micro, Small, and Medium Enterprises (MSMEs) and SMEs across India.
- This partnership aims to revolutionise MSME financing with data-driven solutions, enhancing liquidity and growth opportunities.
Note: TReDS is a digital platform that enables small businesses to access working capital by discounting their receivables.
APPOINTMENTS & RESIGNATIONS
CS Setty Receives FSIB nod To Head as SBI Chairman After Khara Retires 
Challa Sreenivasulu Setty has been selected as the 27th Chairman of State Bank of India (SBI) by the Financial Services Institution Bureau (FSIB), an arm of the central government of India.
- Setty will succeed current chairman Dinesh Kumar Khara, whose extended term is set to end on August 28 2024.
- Currently Setty is serving as one of the Managing Directors (MD) of the SBI.
About Challa Sreenivasulu Setty:
i.Challa Sreenivasulu Setty is a Certified Associate of the Indian Institute of Bankers (CAIIB), began his career with SBI in 1988 as a Probationary Officer (PO).
ii.He has held various positions in SBI including Deputy MD – Stressed Assets Resolution Group, Chief General Manager (GM) and GM in Corporate Accounts Group, Deputy GM in Mid-Corporate group and VP & Head (Syndications) in SBI, New York Branch.
iii.He has extensive experience in Corporate credit, Retail, Digital and International banking, and banking in developed markets.
iv.He then joined as a MD in SBI in January 2020.
About State Bank of India (SBI):
Chairman – Dinesh Kumar Khara
Headquarters – Mumbai, Maharashtra
Established – 1955
Tagline – The Banker to Every Indian
About Financial Services Institution Bureau (FSIB):
FSIB was established on 1st July 2022 by the Government of India (GoI), replacing Banks Board Bureau (BBB) for recommending persons for the appointment as whole-time directors and non-executive chairpersons on the Boards of Financial Service Institutions.
Chairman – Bhanu Pratap Sharma
Headquarters – Mumbai, Maharashtra
SARS Commissioner Kieswetter Re-elected as Chairperson of WCO for 2nd Term
South African Revenue Service (SARS) Commissioner Edward Kieswetter has been re-elected as the Chairperson of World Customs Organisation (WCO) Council, the highest decision making body of WCO, for 2nd consecutive term (2024-2025).
- He was elected by the WCO Council during its 143rd/144th sessions held in Brussels, Belgium from 27th June to 29th June, 2024.
- The event witnessed the participation of Directors General (DG) of 186 member nations of WCO.
Note: Kieswetter has been serving as the Chairperson of WCO since June 2023. He took over from Ahmed Hamad Al-Khalifa of Bahrain, who served as WCO Chairperson from 2020 to 2023.
About Edward Kieswetter:
i.Edward Kieswetter joined SARS in 2005 to implement the Large Business Centre and worked in SARS in various capacities such as Chief Operating Officer (COO) (2006) and Deputy Commissioner (2009).
ii.He was appointed as Commissioner of SARS in 2019 for a term of 5 years which was set to end on 30th April 2024.
- In February 2024, his tenure as Commissioner of SARS was extended for a period of 2 years.
iii.He worked as Group Chief Executive and Executive Director of Alexander Forbes Group from 2010 to 2016. He also held senior executive roles at FirstRand Banking Group and Eskom.
iv.He has also served as Vice-chair of the African initiative of the Organisation for Economic Cooperation and Development (OECD) Global Forum on Information Exchange for Tax Transparency.
About World Customs Organisation (WCO):
WCO is an independent intergovernmental organisation focused on customs-related matters.
It was established in 1952 as the Customs Cooperation Council (CCC) and renamed as World Customs Organisation (WCO) in 1994.
Secretary-General- Ian Saunders
Members- 186 member nations
Headquarters- Brussels, Belgium
SCIENCE & TECHNOLOGY
C-DAC partners with MosChip and Socionext for Design & Development of HPC Processor AUM based on Arm architecture
On July 1, 2024, Centre for Development of Advanced Computing (C-DAC) has partnered with MosChip Technologies, India and Socionext Inc., Japan for the design and development of a High-Performance-Computing (HPC) Processor SoC (System-on-a-Chip) called AUM
- The AUM processor is based on the Arm technology and built on TSMC (Taiwan Semiconductor Manufacturing Company Limited) 5 Nanometer (nm) technology node.
Key Points:
i.The partnership aims to design, develop, and produce an indigenous HPC processor in global standards.
ii.This partnership will aid C-DAC to achieve complete indigenisation in supercomputing.
About the AUM processor:
i.Keenheads Technologies, an Indian start-up has been engaged as the Program Management Consultant (PMC) to ensure smooth coordination and execution.
ii.The HPC Processor AUM is based on the high-performance Arm Neoverse™ V2 CPU platform, and incorporates advanced packaging technology.
Key Points:
i.C-DAC is already developing indigenous technologies, including the compute node RUDRA, Trinetra–Interconnect, and a System Software stack.
ii.It is deploying HPC systems at top Research & Development (R&D) and academic institutions across India as a part of National Supercomputing Mission (NSM).
- NSM is funded by Ministry of Electronics and Information Technology (MeitY) and Department of Science and Technology (DST) to make India one of the world leaders in supercomputing.
About Centre for Development of Advanced Computing (C-DAC):
Director General– Magesh Ethirajan
Parent Ministry– Ministry of Electronics and Information Technology (MeitY)
Establishment– 1988
Headquarters– Pune, Maharashtra
SPORTS
BPCL Partners With IOA as Principal Sponsor from Paris 2024 to LA 2028 Olympics
On 30th June 2024, Bharat Petroleum Corporation Limited (BPCL) has entered into a partnership with the Indian Olympic Association (IOA) as the official Principal Partner for 4 years starting from Paris Olympics 2024 through Los Angeles (LA) Olympics 2028.
- The partnership was announced during the send-off ceremony of the Indian contingent heading to Paris Olympics 2024 organised by IOA in New Delhi, Delhi.
Note: Paris Olympics 2024 will be held from 26th July to 11th August, 2024.
Key People: Union Minister Hardeep Singh Puri, Minsitry of Petroleum & Natural Gas (MoPNG), Union Minister Dr. Mansukh Mandaviya, Ministry of Youth Affairs and Sports (MoYSA) and Dr. P.T. Usha, President of IOA, among others were present during the event.
Details of the partnership:
i.This 4-year partnership supports and appreciates the sheer grit and determination of Indian athletes, most of them hails from humble backgrounds and remote corners of India.
ii.According to this partnership, BPCL will launch series of campaigns designed specifically to support and uplift the Indian contingent heading to Paris 2024.
iii.Through these campaigns BPCL reaffirms its commitment to support and encourage young sporting talent and fostering a national pride and unity.
Other Partners of Team India at Paris 2024:
i.Other principal sponsors: Reliance Foundation, Adani Group and Aditya Birla Capital.
ii.Associate partners: EBCO, Borosil, AMUL and INOX Leisure.
iii.Yes Bank; Dream Set Go and Herbal Life are official Banking partner; Travel partner and Nutrition partner respectively.
iv.JSW Inspire is the official Apparel Partner of Team India.
About Bharat Petroleum Corporation Limited (BPCL):
BPCL is a Maharatna Central Public Sector Enterprise (CPSE) under the MoPNG.
Chief Managing Director (CMD)- G. Krishnakumar
Headquarters- Mumbai, Maharashtra
BOOKS & AUTHORS
PM Modi Releases Three Books on Former Vice President Venkaiah Naidu
On June 30 2024, The Prime Minister (PM) of India Narendra Modi released three books on the life and journey of former Vice President Muppavarapu Venkaiah Naidu through video conferencing from Delhi on the eve of Naidu’s 75th birthday (July 1 2024).
- The event took place at Anvaya Convention Centre in Gachibowli, Hyderabad, Telangana.
Three Books:
i.Biography of the former Vice President titled ‘Venkaiah Naidu – Life in Service’, which was authored by Shri S Nagesh Kumar, former Resident Editor of The Hindu, Hyderabad edition.
ii.’Celebrating Bharat – The Mission and Message of Shri M Venkaiah Naidu as 13th Vice–President of India’, a Photo chronicle compiled by Dr I.V. Subba Rao, Former Secretary to the Vice-President of India.
iii.Pictorial biography in Telugu titled ‘Mahaneta – Life and Journey of Shri M. Venkaiah Naidu’, which was authored by Shri Sanjay Kishore.
About Venkaiah Naidu:
i.Venkaiah Naidu served as the Minister of Information and Broadcasting (MIB) from 2016 to 2017.
ii.He has served as the 13th Vice President of India from 2017 to 2022.
iii.He protested against the Emergency, fought for fundamental rights and was even imprisoned during the dark days of Emergency.
iv.During his tenure he has launched many schemes and reforms for the development of the rural class. Pradhan Mantri Gram Sadak Yojna (PMGSY) was one such scheme.
v.He also initiated ‘Swarna Bharat Trust’, which provides education to the needy children and also imparts employment training to women and youth.
Awards & Honours:
In 2024, Venkaiah Naidu received the Padma Vibhushan, the second highest civilian award from the President of India Droupadi Murmu.
IMPORTANT DAYS
National Doctor’s Day 2024 – July 1
National Doctors’ Day is annually observed across India on 1 July to honour the contributions of doctors and healthcare professionals to society and recognise and appreciate the role of doctors in keeping the nation healthy.
- The day also commemorates the birth and death anniversary of Bharat Ratna Dr. Bidhan Chandra Roy (BC Roy), a renowned physician and the 2nd Chief Minister (CM) of West Bengal.
- The annual observance of National Doctor’s Day in India is led by the Indian Medical Association (IMA).
- The theme of National Doctors’ Day 2024 is “Healing Hands, Caring Hearts”.
- In India, National Doctor’s Day was 1st celebrated on 1 July 1991, following the recommendations of the IMA.
About the Indian Medical Association (IMA):
National President– Dr. R V Asokan
Secretary-General– Dr. Anilkumar J. Nayak
Headquarters– New Delhi, Delhi
Started in 1928
>> Read Full News
Goods And Service Tax Day 2024 – July 1
Goods And Service Tax (GST) Day is annually observed across India on 1 July to commemorate the implementation of the GST regime, a comprehensive indirect tax levied on the supply of goods and services in India, which came into effect on 1 July 2017.
- 1 July 2024 marks the observance of the 7th GST Day, commemorating the 7th anniversary of the coming into force of GST.
- The 2024 theme for the GST Day is, “Sashakt Vyapar Samagra Vikas” (Empowered Trade Overall Growth).
Background:
i.GST was launched on July 1, 2017, during a grand ceremony in the Central Hall of Parliament of India in New Delhi, Delhi.
ii.On 30 June 2018, the Government of India (GoI) announced the decision to celebrate the 1st July of every year as ‘GST Day’.
iii.The 1st ever GST Day was observed on 1 July 2018, to commemorate the 1st year of the unprecedented reform of Indian taxation.
About GST Council:
As per Article 279A (4), the GST Council makes crucial recommendations to the Union and States on important issues related to GST, like the goods and services subject to or exempted from GST; model GST Laws; principles governing the Place of Supply; threshold limits for GST.
Chairperson– Union Minister Nirmala Sitharaman, the Ministry of Finance
>> Read Full News
National Chartered Accountant (CA) Day 2024 – July 1
The National Chartered Accountant (CA) Day is annually observed across India on July 1 to mark the establishment of the Institute of Chartered Accountants of India (ICAI).
- It is observed to represent the role of CAs in shaping the financial and economic sectors of India.
- The year 2024 marks the 76th anniversary of the ICAI’s foundation by an Act of Parliament, the Chartered Accountants Act of 1949.
Theme 2024:
The theme for National CA Day 2024 is ‘Innovating for a sustainable future’, which emphasises the important role CAs have in promoting sustainable business practices.
Significance:
i.National CA Day celebrates the contributions of CA’s to India’s economic growth and financial well-being.
ii.It highlights the challenges and opportunities for CAs in a transforming financial sector.
iii.It promotes ethical ideas and responsible procedures in the CA profession.
ICAI:
i.The Institutes of Chartered Accountants of India(ICAI) came into existence on July 1, 1949. The ICAI is a statutory body established under the Chartered Accountants Act, 1949, enacted by the Parliament of India to develop the profession of Chartered Accountants.
- It holds the honour of being the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in public interest.
ii.It serves as India’s premier regulatory and licensing authority for the accounting profession, managing standards and practices in financial audits across India.
iii.It functions under the administrative control of the Ministry of Corporate Affairs (MCA), Government of India (GoI).
About Institute of Chartered Accountants of India (ICAI):
President – CA. Ranjeet Kumar Agarwal
Headquarters – New Delhi, Delhi
Established – 1949
STATE NEWS
Manoj Ahuja Takes Charge As Odisha’s Chief Secretary; Nikunja Bihari Dhal as Additional Chief Secretary in CMO
On 30th June 2024, Manoj Ahuja, a 1990 batch Indian Administrative Service (IAS) officer of the Odisha cadre took charge as the 46th Chief Secretary (CS) of Odisha.
i.Ahuja succeeded Pradeep Kumar Jena, who was appointed as the CS of Odisha in February 2023.
ii.Ahuja will also serve as the Secretary in the General Administration and Public Grievances (GA&PG) department.
Nikunja Bihari Dhal as Additional Chief Secretary in CMO:
Nikunja Bihari Dhal, a 1993 batch IAS officer of the Odisha cadre has been appointed as the Additional Chief Secretary (ACS) to the Odisha’s Chief Minister’s Office (CMO).
i.He was appointed as the Chief Electoral Officer (CEO), of Odisha in March 2023.
ii.He has also played significant roles like, Special Relief Commissioner, Special Residence Commissioner New Delhi and Commercial Tax Commissioner.
iii.Dhal was previously assigned significant roles like, Special Relief Commissioner, Special Residence Commissioner New Delhi and Commercial Tax Commissioner.
Manoj Kumar Singh Takes Charge as Uttar Pradesh’s Chief Secretary
Manoj Kumar Singh, a 1988-batch Indian Administrative Service (IAS) officer of the Uttar Pradesh (UP) cadre takes charge as the new Chief Secretary (CS) of UP.
- Manoj’s appointment follows the conclusion of Durga Shanker Mishra’s extended tenure on 30 June 2024.
- Manoj Kumar Singh currently holds two pivotal positions as the Agriculture Production Commissioner and the Infrastructure and Industrial Development Commissioner of Uttar Pradesh.
- He has held many significant roles, including Additional Chief Secretary (ACS) for the Panchayati Raj Department, Infrastructure and Industrial Development Commissioner (IIDC), and Agriculture Production Commissioner (APC).
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