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NATIONAL AFFAIRS
DoPT Notified Public Examinations (Prevention of Unfair Means) Act, 2024; Effective from 21st June, 2024
The Department of Personnel and Training (DoPT) under the Ministry of Personnel, Public Grievances and Pensions (MoPPG&P), Government of India (GoI) in exercise of powers given under sub-section (2) of section 1 of the Public Examinations (Prevention of Unfair Means) Act, 2024 (1 of 2024) has notified that all the provisions of the said Act came into effect from 21st June 2024.
- All offences will be cognizable, non-bailable and non-compoundable under this Act.
Key Points:
i.Section 2(k) of the Act defines “public examination” any examination conducted by authorities specified under the schedule of the said Act or notified by the central government, these include:
- the Union Public Service Commission (UPSC), Staff Selection Commission (SSC), Railway Recruitment Board (RRB), National Testing Agency (NTA), Institute of Banking Personnel Selection (IBPS), and Departments of the central government and their attached offices for the recruitment.
ii.The Act also prohibits disclosing exam-related confidential information before time and an unauthorised people from entering exam centres to create disruptions.
- All these offences are punishable under section 10 with imprisonment of minimum 3 years which may extend to 5 years, and a fine up to Rs 10 lakh.
About Ministry of Personnel, Public Grievances and Pensions (MoPPG&P):
Union Minister– Narendra Modi (Lok Sabha constituency- Varanasi, Uttar Pradesh (UP))
Union MoS– Dr. Jitendra Singh (Lok Sabha constituency- Udhampur, Jammu & Kashmir (J&K))
>> Read Full News
Union Minister Shivraj Singh Chouhan Launches Web Portal For Faster Bank Settlements Under AIF
Union Minister Shivraj Singh Chouhan, Ministry of Agriculture and Farmers’ Welfare (MoA&FW) has launched a new web portal to automate and accelerate the process of settlement of interest subvention claims of banks made under the Agriculture Infrastructure Fund (AIF).
- The portal was jointly developed by the Department of Agriculture and Farmers’ Welfare (DA&FW) and National Bank for Agriculture and Rural Development (NABARD).
- NABARD chairman Shaji K.V. and officials from MoA&FW were present during the event.
Key Points:
i.This portal will ensure timely settlement of claims within a day and ensure transparency and check corrupt methods.
- The portal shall be used by banks, Central Project Management Unit (CPMU) of DA & FW and NABARD.
ii.It helps with the calculation of exact eligible interest subventions through the portal, reducing the possibility of human error in manual processing and allowing for faster claim settlement.
iii.The automation of the interest subvention claim and credit guarantee fee claim processing will support the government to release accurate interest subvention, and reduce the turn-around time.
iv.This will turn help the farmers and agri entrepreneurs financially and support them to take up projects for development of agriculture in India.
Launch of Krishi Katha:
The Union Minister also launched ‘Krishi Katha’, a blog site which will serve as a digital platform to displays the voice of the Indian farmers and amplify the experiences, insights and success stories of farmers across India.
- This will act as storytelling space where the narratives of India’s agricultural community can be shared and celebrated.
- This will support to create awareness, facilitate exchange of knowledge, foster collaboration and empower farmers.
About Agriculture Infrastructure Fund (AIF):
i. AIF was launched byPrime Minister (PM) Narendra Modi in 2020 to develop post-harvest management infrastructure to reduce losses, provide better value to farmers, promote agriculture innovation, and attract.
ii.As of June 2024, A total of Rs.72,000 crore has been invested, with Rs.43,000 crore already sanctioned for 67,871 projects under AIF.
iii. A total of Rs.1 lakh crore will be funded through banks and financial institutions up to 2025-26.
iv.The initiative offers a 3% interest subsidy on bank loans up to Rs.2 crore for a maximum of 7 years, as well as repayment of credit guarantee fees paid by banks.
About Ministry of Agriculture and Farmers’ Welfare (MoA & FW):
Union Minister – Shivraj Singh Chouhan (Constituency – Vidisha, Madhya Pradesh-MP)
Minister of State (MoS) – Ram Nath Thakur (Rajya Sabha – Bihar); Bhagirath Choudhary (Constituency – Ajmer, Rajasthan)
Union Minister Launches MSME TEAM Initiative & Yashasvini Campaign To Boost Online Trading of MSMEs
Jitan Ram Manjhi, the Union Minister for Micro, Small and Medium Enterprises (MSME) launched the MSME Trade Enablement and Marketing (TEAM) Initiative and Yashasvini Campaign to boost micro and small businesses trade using e-commerce and to support women entrepreneurs.
- The two initiatives were launched during the event of World MSME Day, ‘Udyami Bharat’ on June 27 2024 in New Delhi, Delhi.
- The Union Ministry of MSME also amending the MSME Development Act, 2006 to improve mechanisms for managing disputes related to delayed payments and to better address the evolving needs of the MSME sector.
Key Points:
The Ministry of Micro, Small and Medium Enterprises (M/o MSME) has identified six pillars. They are
- Formalisation and access to credit
- Increased access to market and e-commerce adoption
- Increased productivity through modern technology
- Enhanced skill levels and digitalization in the service sector
- Support to Khadi, Village, and
- Coir industry to globalise them and empowerment of women, artisans, through enterprise creation, based on which the MSME-related initiatives are built.
About MSME TEAM Initiative:
i.It has been launched under the World Bank (WB)-supported Raising And Accelerating MSME Productivity (RAMP) programme and implemented by National Small Industries Corporation (NSIC).
ii.This initiative boosts e-commerce access for MSEs (micro and small enterprises) via the government’s open e-commerce network Open Network for Digital Commerce (ONDC) with an outlay of Rs 277.35 crore for the period of three years (2024-2027).
iii.It aims to support Udyam-registered MSEs with catalogue development and onboarding on ONDC along with account management support in response to the challenges MSEs face in accessing e-commerce, like limited digital access, financial constraints, and lack of confidence in operating through digital platforms.
- It will provide financial assistance for onboarding, cataloguing, account management, logistics, packaging material, and design.
iv.The initiative is expected to benefit 5 lakh MSEs with 50% of them being women-owned enterprises.
v.Under this initiative, subsidies will be provided to MSEs for transportation and logistics and packaging including packaging designs.
About Yashasvini Campaign:
i.Yashasvini Campaign is an awareness campaign, which focuses on formalising women-owned micro enterprises in tier-2 and tier-3 cities and providing necessary support and assistance.
ii.It provides capacity building, training, handholding and mentorship to the women owned enterprises.
Note: MSMEs will play a key role in the movement towards Atmanirbhar and Viksit Bharat.
About Ministry of Micro, Small and Medium Enterprises (M/o MSME):
Union Minister – Jitan Ram Manjhi (Lok Sabha Constituency – Gaya, Bihar)
Minister of State (MoS) – Shobha Karandlaje (Lok Sabha Constituency – Bangalore North, Karnataka)
INTERNATIONAL AFFAIRS
Paraguay Becomes 100th Full Member of International Solar Alliance
The Republic of Paraguay officially became the 100th full member of the International Solar Alliance (ISA), a treaty-based international intergovernmental organization. Paraguay handed over its Instrument of Ratification to the ISA in New Delhi, Delhi.
Note: The ISA is an action-oriented, member-driven, collaborative platform for increased deployment of solar energy technologies.
Key People: Fleming Raul Duarte, Ambassador of Paraguay handed over the Instrument of Ratification to Abhishek Singh, Head of Depository, Joint Secretary of the Economic Diplomacy (ED) & Multilateral Economic Relations (MER) Division, Ministry of External Affairs (MEA).
ISA Overview:
i.The ISA was conceived as a joint effort by India and France to combat climate change through deployment of solar energy solutions.
ii.It was conceptualised on the sidelines of the 21st Conference of Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Paris, France in 2015.
iii.This treaty-based intergovernmental organisation was launched by Prime Minister (PM) Narendra Modi and Former President of France, François Hollande.
iv.The ISA works with governments to improve energy access and security worldwide and drive energy transition in its member countries, promoting solar power as a sustainable way to transition to a carbon-neutral future.
Membership and Framework:
i.Initially limited, the ISA’s Framework Agreement was amended in 2020, allowing all UN member states to join.
ii.Currently, 119 countries are signatories to the ISA Framework Agreement, of which 100 countries have ratified and become full members of the ISA.
Note: Spain became the 99th full member of ISA in May 2024.
About the International Solar Alliance (ISA):
Director General– Dr Ajay Mathur
Headquarters– Gurugram, Haryana
BANKING & FINANCE
RBI Raised WMA limit for States/UTs by 28% to Rs 60,118 crore
On 28th June 2024, the Reserve Bank of India (RBI) announced that it has raised Ways and Means Advances (WMA) limit or financial accommodation for state governments and Union Territories (UTs) by 28%, from Rs 47, 010 crore (fixed in April 2022) to Rs 60, 118 crore and will come effect from, 1st July, 2024.
- The WMA limit has been raised based on the recommendations made by the group formed by the RBI which comprises finance secretaries of various states to address the expenditure data of states for recent years.
Key Points:
i.RBI announced that Special Drawing Facility (SDF) availed by state governments/ UTs will continue to be linked to the quantum of their investments in marketable securities, issued by the Government of India (GoI), including Auction Treasury Bills (ATBs).
ii.RBI suggested that the maximum limit of SDF that can be availed by states/UTs against the investments held under Consolidated Sinking Fund (CSF) or Guarantee Redemption Fund (GRF) will be 50% of the lower of: outstanding balance of the funds as on the last date of the second preceding quarter, and the current balance held in CSF or GRF.
About Reserve Bank of India(RBI):
Governor– Shaktikanta Das(25th Governor of RBI)
Headquarter– Mumbai, Maharashtra
Established- 1 April, 1935
>> Read Full News
RBI Imposes Rs 29.60 lakh Penalty on HSBC for Card Rule Violations
On 24th June 2024, The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 29.60 lakh on The Hongkong and Shanghai Banking Corporation Limited (HSBC) for non-compliance with directions issued by RBI on ‘Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card operations of Banks’ reiterated in ‘RBI (Credit Card and Debit Card – Issuance and Conduct) Directions, 2022.
- The penalty was imposed in the exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
- RBI conducted the Statutory Inspection for Supervisory Evaluation (ISE 2022) with reference to the financial position of HSBC as on 31st March 2022.
- The HSBC failed to ensure that there was no negative amortisation while computing Minimum Payment Due(MPD)in certain credit card accounts.
Note: The Hongkong and Shanghai Banking Corp Ltd (HSBC), a subsidiary of HSBC Holdings plc, formerly known as HongkongBank. It was incorporated in 1866.
RBI Launches ‘Finquiry’ to Allow Fintechs Directly Discuss with RBI
The Reserve Bank of India(RBI) launched an exclusive 2-hour window called ‘Finquiry’ for fintechs to visit the FinTech department of the RBI in Mumbai, Maharashtra.
- This initiative aims to provide a platform for fintechs to seek clarity and discuss fintech-related queries directly with RBI officials.
- This will foster better communication and understanding between RBI and the fintech companies.
Note: The window, launched on 26th June 2024, will be available on the last working Wednesday of every month from 3 to 5 pm.
HDFC Life Launched ‘Bridge the Gap’ Campaign to Enhance Life Insurance Awareness
On the sidelines of National Insurance Awareness Day 2024(28th June 2024), HDFC Life Insurance Company Limited introduced the ‘Bridge the Gap’ campaign to educate the public about the role of life insurance.
- This initiative aims to clarify the benefits of life insurance and inform the public about its importance.
- HDFC Life has partnered with ET NOW, an English-language business and finance news channel in India, to produce a series of informative chat shows featuring discussions with HDFC Life leaders and their partners. This will cover various aspects of financial planning with life insurance, including protection, child plans, and retirement options.
Note: Life insurance penetration in India is low at only 3.2%, with a substantial protection gap of about 91%.
AWARDS & RECOGNITIONS
Brand Finance’s INDIA 100 2024: Tata Group Retains No.1 Position as India’s Most Valuable Brand
According to the Brand Finance’s India 100 2024: The annual report on the most valuable and strongest Indian brands June 2024, TATA Group retained the Number 1 position in the Brand Value Ranking 2024 with a 9% growth in brand value to USD 28.6 billion. TATA Group, the most valuable brand in India, became the 1st Indian brand to near a USD 30 million brand value mark.
- Infosys continues to retain its 2nd spot, with a steady 9% growth in brand value (USD 14.2 billion), followed by HDFC Group in the 3rd spot with a brand value of USD 10.4 billion.
- Taj retains its reputation as the strongest Indian brand for the 3rd consecutive year with a AAA+ brand strength rating.
About Brand Finance India:
Managing Director (MD)– Ajimon Francis
Headquarters– Mumbai, Maharashtra
Established-1996
>> Read Full News
Sanjana Thakur Won Overall CommonWealth Short Story Prize 2024
On June 26, 2024, The Commonwealth Foundation announced Sanjana Thakur, an Indian writer from Mumbai (Maharashtra) as the overall winner of 2024 Commonwealth Short Story Prize for her story ‘Aishwarya Rai’, a reversed adoption story.
- Thakur is the third Indian writer to win the prize, which was launched in 2012. Previously it was won by the Indian writers Parashar Kulkarni (2016) and Kritika Pandey (2020).
Regional Winners of CommonWealth Short Story Prize 2024:
| Winner Name | Region | Story |
|---|---|---|
| Sanjana Thakur | India (Asia)-Overall winner | Aishwarya Rai |
| Reena Usha Rungoo | Mauritius (Africa) | Dite |
| Julie Bouchard | Canada (Canada and Europe) | What Burns (translated from French into English by Arielle Aaronson) |
| Portia Subran | Trinidad and Tobago (Caribbean) | The Devil’s Son |
| Pip Robertson | New Zealand (Pacific) | A River Then the Road |
‘Granta’, the literary magazine, has published all of the regional winner’s stories of the 2024 Commonwealth Short Story Prize.
Jury Panel:
The international panel of Commonwealth Foundation 2024 comprises of Chairperson and five judges, one from each of Commonwealth Regions:
Jennifer Nansubuga Makumbi (Chairperson), Shashi Bhat (Canada and Europe), Richard Georges (Caribbean), O Thiam Chin (Asia), Melissa Lucashenko (Pacific) and Keletso Mopai (Africa).
About Commonwealth Short Story Prize:
i.It is an annual award administered by London(The United Kingdom(UK)) Commonwealth Foundation given for unpublished short fiction with 2000 – 5000 words.
ii.The prize covers the Commonwealth regions of Africa, Asia Canada and Europe, Caribbean and Pacific.
- The overall winner receives 5,000 Great British Pound(GBP) and regional winners receive 2,500 GBP. If the winning short tale is translated into English, the translator will get an extra reward.
iii.There will be five winners, one from each region of the Commonwealth and one regional winner will be selected as the overall winner.
iv.The writers from Mauritius, Rwanda, and St. Kitts & Nevis are included on the shortlist for the first time, among the 13 Commonwealth nations represented this year.
Note: The prize is open to any citizen of a Commonwealth nation who is aged 18 and over.
SCIENCE & TECHNOLOGY
DRDO Completes Six Developmental Trials of HEAT ‘ABHYAS’ at Odisha
The Defence Research and Development Organisation (DRDO) has successfully completed the six consecutive developmental trials of ‘ABHYAS’, the High-Speed Expendable Aerial Target (HEAT), with enhanced Booster Configuration from the Integrated Test Range (ITR) in Chandipur, Odisha.
- With this, ABHYAS has completed ten developmental trials, demonstrating the system’s reliability.
Note: Earlier in February 2024, four trials were conducted with four different mission objectives in a revised robust configuration using a single booster.
Key Points:
i.The trials were conducted with enhanced Radar Cross Section (RCS), Visual, and Infrared (IR) augmentation systems, which required for weapon practice.
ii.The trials successfully validated the mission objectives like safe release of booster, launcher clearance, and endurance performance.
iii.Two launches were conducted consecutively within a gap of 30 minutes, demonstrating the ease of operation with minimal logistics.
About ABHYAS:
i. ABHYAS is a indigenous system designed by the DRDO’s Aeronautical Development Establishment (ADE), Bengaluru (Karnataka).
- The ABHYAS was developed through the production agencies – Hindustan Aeronautics Limited (HAL) and Larsen & Toubro Limited (L&T).
ii.It is designed for autonomous flying with an autopilot, a laptop-based Ground Control System (GCS) for aircraft integration, pre-flight checks, and autonomous flight.
iii.It provides a realistic threat scenario for practice of weapon systems and also records data during flight for post-flight analysis.
iv.The booster has been designed by Advanced Systems Laboratory (ASL) and the navigation system by Research Centre Imarat (RCI), Hyderabad (Telangana).
About Defence Research and Development Organisation (DRDO):
It is the Research and development (R&D) wing of the Ministry of Defence (MoD).
Chairman – Samir V Kamat
Headquarters – New Delhi, Delhi
Formed – 1958
OBITUARY
Sikkim’s Former Lok Sabha MP Pahalman Subba Passes Away
Pahalman Subba, Sikkim’s first elected Member of Parliament(MP – Lok Sabha) passed away at Gangtok, Sikkim. He was born on 12th March 1966 in Tikjek village, West Sikkim.
- He won the 1980 election on a Sikkim Janata Party (SJP) ticket and served as an MP until 1984. He was the second MP of Sikkim and the first to win a contested election.
Note: Sikkim became a State of the Indian Union in 1975. Chatra Bahadur Chhetri of the Indian National Congress was the first MP from Sikkim. He was elected unopposed during the 1977 election.
IMPORTANT DAYS
National Statistics Day 2024 – June 29
National Statistics Day (Statistics Day) is annually observed across India on 29 June to acknowledge and appreciate the contributions of statisticians in India and popularise statistics as a field of study and its significance in socio-economic planning, policy-making, and daily life.
- This Day is also celebrated to mark the birth anniversary of an eminent statistician (Late) Professor Prasanta Chandra (PC) Mahalanobis, also known as the ‘Father of Modern Statistics in India.’
- The main event of National Statistics Day 2024 was organised at Manekshaw Centre, Delhi Cantt, and New Delhi, Delhi.
- 29 June 2024 marks the observance of the 18th National Statistics Day.
The 2024 theme of National Statistics Day is, “Use of Data for Decision Making.”
Background:
i.The Government of India (GoI) has officially designated 29th June every year, coinciding with P.C. Mahalanobis‘ birth anniversary as the Statistics Day in the Special Days to be celebrated at the National Level.
iiThe 1st National Statistics Day was commemorated on 29 June 2007.
About the National Statistical Commission (NSC):
The GoI set up the NSC through a resolution dated June 1, 2005. The NSC was officially constituted on July 12, 2006. The establishment of the NSC was based on recommendations from the Rangarajan Commission.
Chairman– Prof. Rajeeva Laxman Karandikar
Headquarters– New Delhi, Delhi
>> Read Full News
International Day of the Tropics 2024 – June 29
The United Nations (UN) International Day of the Tropics is annually observed across the globe on 29 June to raise awareness about specific challenges faced by tropical areas, highlight the global implications of issues affecting the tropical zone, and emphasise the role of tropical countries in achieving the Sustainable Development Goals (SDGs).
Background:
i.On 14 June 2016, the UN General Assembly (UNGA) adopted the resolution A/RES/70/267, proclaiming 29 June of every year as the International Day of the Tropics.
ii.The 1st ever International Day of the Tropics was observed on 29 June 2017.
>> Read Full News
World Allergy Week 2024 – June 23 to 29 
World Allergy Week is an annual initiative of World Allergy Organisation (WAO) to create awareness about allergic diseases in our communities. World Allergy Week 2024 observed across the globe from 23rd to 29th June 2024.
- It focuses on campaigning for training and resources on allergy diagnosis, management, and prevention.
- The theme of World Allergy Week 2024 is ‘Childhood Food Allergy’, which focuses on the weaning journey for parents of babies with food allergies.
Note: World Allergy Week 2023 was observed from 18th to 24th June 2023.
Significance of World Allergy Week 2024:
i.WHO annually chooses a disease topic which requires greater attention and provides physicians and the general public with webinars, infographics and additional information to educate and raise awareness on the topic.
ii.The World Allergy Week 2024 focusses on food allergy and removing obstacles to optimal care, safety, and quality of life.
iii.According to the WAO, allergic respiratory airway diseases are the most frequent chronic diseases in humans.
- Chronic disorders such as Asthma, Allergic rhinitis, Chronic sinusitis, Chronic cough, Eosinophilic Bronchitis (EB), Allergic Bronchopulmonary Mycosis (ABPM) and others often occur together.
Key Points:
Asthma affects around 350 million people worldwide, while allergic rhinitis affects 10% to 50% of the population, depending on geographical area.
- According to the recent research data asthma affects 10% of the children globally.
Background:
i.WAO hosted the first World Allergy Day in July 2005 in association with the Biennial World Allergy Congress (WAC).
ii.In 2011, the WAO Board of Directors (BOD) approved the establishment of World Allergy Week in response to suggestions from member societies and other associates of the organisation to broaden the focus of World Allergy Day.
- World Allergy Week 2011 was observed from 4th to 10th April 2011.
iii.The World Allergy Congress (WAC) 2024 is scheduled to held from September 27 – 29, 2024 in Lisbon, Portugal.
About World Allergy Organisation (WAO):
World Allergy Organisation (WAO) is an international umbrella organisation, whose members consist of over 111 regional and national allergy and clinical immunology societies.
President – Bryan Martin
Secretary-General (SG) – Gary W.K. Wong
Headquarters – Milwaukee, United States of America (USA)
Formed – 1951
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