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NATIONAL AFFAIRS
Department of School Education Signed MoU with National Book Trust To Launch Rashtriya E-Pustakalaya
The Department of School Education & Literacy (DoSE&L), Ministry of Education (MoE), Government of India (GoI) has signed a Memorandum of understanding (MoU) with the National Book Trust (NBT) to create an institutional framework for Rashtriya e-Pustakalaya, a Digital Library Platform.
- This collaboration aims to enhance the accessibility of non-academic books for children and adolescents across India.
Note: NBT, is an apex body established by the GoI (Department of Higher Education (DHE), Ministry of Human Resource Development (MHRD)) in 1957.
About Rashtriya E-Pustakalaya:
i.The Rashtriya E-Pustakalaya aims to resolve the ‘last mile’ accessibility issue for many states by offering over 10,000 books in more than 100 languages within the next 2-3 years.
ii.Besides English, the portal will provide access to more than 1,000 non-academic books published by over 40 reputed publishers in more than 22 other languages. Presently, over 1,000 books in 23 languages are available including English.
iii.The books will be categorised by four age groups, as per National Education Policy (NEP) 2020, for readers aged 3-8, 8-11, 11-14, and 14-18 years.
iv.The Rashtriya e-Pustakalaya app will be available for download on both Android and i-Phone operating system (iOS) devices.
v.It also includes the availability of books in multiple genres, such as adventure and mystery, humour, literature and fiction, classics, non-fiction and self-help, history, biographies, comics, picture books, science, poetry, etc.
vi.This initiative is aligned with the vision of Vasudhaiva Kutumbakam, focussing on inclusivity and cultural unity.
vii.This digital platform will provide round-the-clock access to books, overcoming geographic limitations.
Gati Shakti Vishwavidyalaya Signed Three MoUs For Industry-Academia Collaboration
Gati Shakti Vishwavidyalaya (GSV) has signed three Memorandum of understandings (MoUs) with Nokia Corporation, Plasser (India) Private Limited and Jacobs Solutions Inc. to strengthen the partnership between industry and academia.
Note: GSV in Vadodara, Gujarat, is a Central University under Ministry of Railways.
Key People: The MoU was signed in the presence of Ashwini Vaishnaw, Union Minister of Railways and the First Chancellor of GSV; Jaya Varma Sinha, the Chairperson and Chief Executive Officer (CEO) of the Railway Board at Rail Bhawan, New Delhi, Delhi.
MoU with Nokia:
Signatories: Prof. Manoj Choudhary Vice-Chancellor(VC) of GSV and Raghav Sahgal, President of Cloud and Network Services of Nokia.
About the MoU:
i.The MoU with Nokia will focus on collaboration with research in the domain of 5G/6G communications targeting air, land and sea transportation use cases including Standards development, Smart Factory/Automation, AI/ Generative Artificial Intelligence (GenAI) Labs.
ii.The collaboration has a research focus specifically on leveraging Nokia’s network as code platform with developer portal and digital twins for transportation and logistics sectors, fibre sensing and AI, and optical network planning.
MoU with Plasser India:
Signatories: Manoj Choudhary, VC of GSV and Siegfried Fink, Managing Director (MD) of Plasser India.
About the MoU:
i.Under this MoU, Plasser and GSV will collaborate in the field of research, teaching, and training of students to deepen their understanding on topics related to rail sector.
ii.Academic curriculum and executive programs will be developed under this partnership.
iii.They will also explore the potential synergies for joint research, partnership international institutes and internship and placement opportunities for the students of GSV.
MoU with Jacobs:
Signatories: Manoj Choudhary, VC of GSV and Anil Relan, Vice President and Whole-time Director of Jacobs.
About the MoU:
i.The MoU with Jacobs will enhance advancement in the field of research, teaching, and training activities pertaining to transport, rail and semiconductor sector.
ii.This will also support to establish centres of excellence (CoEs) in semiconductors, electronics manufacturing, and railways, including development of laboratories.
Key Points:
These MoUs are expected to provide a large number of job opportunities due to the rapid growth in the transportation and logistics and telecommunications sectors, as well as the semiconductor manufacturing in India.
About Gati Shakti Vishwavidyalaya (GSV):
GSV was established in 2022 by the Act of Parliament. GSV is India’s first transport University. It is formerly National Rail and Transportation Institute.
Chancellor – Ashwini Vaishnaw (Union Minister of Railways)
Headquarters – Vadodara, Gujarat
INTERNATIONAL AFFAIRS
Key Highlights of 77th World Health Assembly held in Geneva, Switzerland
The 77th World Health Assembly(WHA 77) was held in Geneva, Switzerland from 27th May to 1st June, 2024.
- Theme of 2024 WHA is “All for Health, Health for All”.
- Apurva Chandra, Secretary, Ministry of Health and Family Welfare (MoHFW) represented India at the WHA 77
Note: World Health Assembly is the decision-making body of World Health Organization (WHO). It is attended by delegations from all 194 Member States of WHO.
Points to note:
i.Bengaluru(Karnataka)-based National Institute of Mental Health and Neuro Sciences (NIMHANS) bagged the Nelson Mandela Award for Health Promotion for 2024 by WHO.
ii.WHA 77 unanimously adopted various amendments to the International Regulations 2005 (IHR 2005) based on 300 proposals made by member states after COVID-19 Pandemic.
iii.India hosted a side event on Women, Children and Adolescent Health in partnership with Norway, United Nations Children’s Fund (UNICEF), United Nations Population Fund (UNFPA) and Partnership for Maternal, Newborn and Child Health (PMCH) in Geneva, Switzerland.
iv.WHO released a Strategic framework for enhancing prevention and control of mpox (Monkey pox) (2024–2027)
>> Read Full News
BANKING & FINANCE
SEBI Launched “Saa₹thi 2.0” Mobile App on Personal Finance for Investors
On 3rd June 2024, The Securities Exchange Board of India (SEBI) launched “Saa₹thi” (SAARTHI) 2.0” mobile application on personal finance for investors. The app introduced a user-friendly interface with comprehensive tools which aims to simplify complex financial concepts.
SEBI Penalises Samco; Bond Platforms Formalise Association
i.SEBI has imposed a penalty of Rs 2.5 lakh on Samco Securities Limited, a SEBI-registered Stock Broker, for alleged discrepancies found in customer on-boarding process and not submitting data to the SEBI’s inspection team.
ii.Around 24 online bond platforms formed an association named, the Online Bond Platform Providers (OBPP) Association of India, to represent the industry, promote retail participation in the domestic debt markets and interact with regulators.
About Securities and Exchange Board of India (SEBI):
Chairman- Madhabi Puri Buch
Headquarter- Mumbai, Maharashtra
Established– 1992
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Adani One & ICICI Bank Jointly Launched 2 Variants of Co-branded Credit Cards
Adani One and ICICI Bank jointly launched India’s 1st co-branded credit cards with airport-linked benefits in collaboration with a card network Visa. The cards will be available in 2 variants, Adani One ICICI Bank Signature Credit Card and Adani One ICICI Bank Platinum Credit Card.
- This collaboration aims to offer customers rewards and benefits across the consumer network of the Adani Group while strengthening ICICI Bank’s credit card portfolio.
Note: Adani One is the digital platform of the Adani Group.
Key Features:
i.The Signature Credit Card offers a rewards program where customers can earn:
- Up to 7% Adani reward points on spending within the Adani Group ecosystem like the Adani One app, Adani airports, Adani electricity bills, train bookings, etc;
- Up to 2% on other domestic and international spends.
ii.The Platinum Credit Card offers a rewards program where customers can earn:
- Flat 3% Adani Reward Points on Adani One, Adani-managed Airports, Trainman, etc.;
- 1.5% Adani Reward Points on international spends;
iii.The Signature card has an annual fee of Rs 5,000 with Rs 9,000 worth of joining benefits, while the Platinum card has a Rs 750 annual fee with Rs 5,000 joining benefits.
Benefits:
i.Other benefits include premium lounge access, free air tickets, the Pranaam Meet & Greet service, discounts at duty-free outlets and airports, free movie tickets, and rewards on groceries, etc.
ii.The cards also offer benefits such as buy one, get one on movie tickets, and a 1% fuel surcharge waiver, etc.
Adani Reward Points:
Upon fulfilling the qualifying retail spend transactions criteria, prescribed by the ICICI Bank from time to time, the cardholders shall qualify to earn Adani Reward Points.
About ICICI Bank Ltd.:
MD & CEO– Sandeep Bakhshi
Headquarters– Mumbai, Maharashtra
Founded in 1994
Tagline– Hum Hai Na, Khayal Apka
RBI Cancels 10-Year Green Bond Auction For the 1st Time Due to Lack of Greenium
The Reserve Bank of India (RBI) cancelled the planned auction of 10-year green bonds, as traders refused to pay the greenium. The cancellation to the absence of a “greenium,” indicates investors’ reluctance to accept lower yields.
i.The cancellation of the green bond sale for 2024-25 marks the 1st instance of such an auction since the inception of green bond sales in January 2023.
ii.The government plans to issue green bonds worth Rs 12,000 crore in the first half of current financial year (2024-2025), diverging from the usual practice of issuing bonds in the 2nd half.
iii.Bids ranged between 7% and 7.06%(yield), which was above the RBI’s acceptable rate. The benchmark bond yield was approximately 6.99% at the bidding time. The funds raised from the sale of green bonds are intended to finance public sector projects aimed at reducing the economy’s carbon footprint.
Note:
- After skipping auctions from April to September 2023, the government raised 200 billion rupees through green bond sales over the rest of fiscal 2024 at 1-2 basis points (bps) below the prevailing yields.
- A “greenium” denotes the reduced yield investors typically accept for green bonds, aimed at funding environmentally sustainable projects.
Axis Bank & Mastercard Collaborates to Launch NFC Soundbox
Axis Bank, one of India’s largest private sector banks, has partnered with American multinational payment card services corporation, Mastercard, to launch the Near Field Communication (NFC) Soundbox solution, an industry-first proposition for the merchant community.
- The NFC Soundbox, an all in one solution, will enable users to accept payment methods such as Bharat Quick Response (QR), Unified Payments Interface (UPI), Tap & Pay, and Tap + Pin payments.
- With this launch, Axis Bank will be the 1st bank in India to introduce a Soundbox accepting Tap + Pin payments. It enables transactions exceeding Rs 5000 via card instruments.
- This will drive card payment acceptance among small merchants; offer cost-effective solutions and seamless transaction experiences; and quick and secure contactless card payments.
Features:
i.Dual confirmation feature with audio cues via speaker and visual feedback on the screen in more than seven languages.
ii.The device will powered with 4G + Wifi capabilities, providing superior connectivity and seamless transaction processing.
iii.It will be available with major payment networks including Visa, RuPay, and American Express.
Axis Bank & Bajaj Allianz General Insurance Entered Bancassurance Partnership
Axis Bank Limited, a private sector bank, and Bajaj Allianz General Insurance Company Limited, a private general insurer, have entered a strategic bancassurance partnership to boost insurance penetration and financial inclusion in India.
- Bancassurance is an arrangement between a bank and an insurance company allowing the insurance company to sell its products to the bank’s client base. This arrangement can be profitable for both companies
i.A comprehensive suite of Bajaj Allianz General Insurance products which includes personal insurance products such as motor insurance, health insurance, home insurance, travel insurance, and commercial insurance products, including engineering and marine insurance will be distributed through Axis Bank’s network of 5,250 plus branches under this partnership.
ii.This partnership will transform the insurance landscape, as it would combine Bajaj Allianz General Insurance’s diverse portfolio of insurance offerings with Axis Bank’s extensive customer base and distribution network.
iii.This collaboration marks a significant step towards furthering financial inclusion and fostering a more secure future for individuals, families, and businesses across India.
APPOINTMENTS & RESIGNATIONS
Claudia Sheinbaum Pardo Elected as 1st Female President of Mexico
On 3rd June 2024, Claudia Sheinbaum Pardo of the Morena party, has been elected as the first Female President of the United Mexican States (Mexico). She will succeed her political mentor, Andrés Manuel López Obrador, who has been serving as the President of Mexico since 2018.
- She will officially sworn-in as the 66th President of Mexico for a 6-year term on 1st October 2024.
- She will also become the 1st person of Jewish heritage to become the Head of State of Mexico.
- Sheinbaum is also the 1st woman to win a general election in the United States of America(USA), Mexico or Canada.
Key Points:
i.Sheinbaum won the election by securing 58.3%-60.7% of the votes. This is the highest vote percentage in Mexico’s democratic history.
ii.She defeated Xóchitl Gálvez who secured between 26.6% and 28.6% of the votes and Jorge Álvarez Máynez received between 9.9% to 10.8% of the votes.
About Claudia Sheinbaum Pardo:
i.Claudia Sheinbaum Pardo is a Mexican politician, scientist, climate activist and academic who began her political career in 2000.
ii.She was appointed environment secretary of Mexico City by López Obrador, who was elected as Mayor of Mexico city in 2000.
iii.In 2006, She joined the United Nations(UN)’s Intergovernmental Panel on Climate Change (IPCC), which later won the Nobel Prize for Peace in 2007.
- IPCC shared the Nobel Peace Prize 2007 with Albert Arnold (Al) Gore Jr. “for their efforts to build up and disseminate greater knowledge about man-made climate change, and to lay the foundations for the measures that are needed to counteract such change”
iv.In 2015, she became the first woman elected head of the Tlalpan district of Mexico City, serving until 2017.
v.In 2018, she became the first woman to be elected as the Mayor of the Mexico City. She held this post till 2023.
About Mexico:
President- Andrés Manuel López Obrador
Capital- Mexico city
Currency- Mexican Peso (MXN)
SCIENCE & TECHNOLOGY
China’s Chang’e-6 Lunar Probe Soft Landed on Moon’s Far Side & Takes Off With 1st Samples From Lunar Far Side
On 2nd June 2024, the China National Space Administration’s (CNSA) Chang’e-6 lunar probe made a soft landing on the moon’s far side to collect and return samples from the rarely explored far side of the moon, a first of its kind in human lunar exploration history.
- Chang’e-6 with the support of the Queqiao-2 relay satellite landed in the South Pole-Aitken (SPA) Basin, specifically the Apollo Basin crater.
- On 4 June 2024, the ascender of the Chang’e-6 probe successfully lifted off from the lunar surface, carrying rock and soil samples collected from the moon’s far side.
‘PraVaHa’: ISRO Develops CFD Software For Aerodynamic Design and Analysis
The Indian Space Research Organisation (ISRO) has developed the Computational Fluid Dynamics (CFD) software named Parallel RANS Solver for Aerospace Vehicle Aero-thermo-dynamic Analysis (PraVaHa).
- This software was developed at ISRO’s Vikram Sarabhai Space Centre (VSSC), Trivandrum, Kerala.
About PraVaHa:
i.It can simulate external and internal flows on launch vehicles, winged and non winged re-entry vehicles.
ii.It facilitates initial aerodynamic design studies by evaluating numerous configurations, crucial for optimising vehicle performance and safety.
iii.PraVaHa code is operational to simulate airflow for Perfect Gas & Real Gas conditions and the validations of the code are underway for simulating the effect of chemical reactions that occur during air dissociation upon ‘earth re-entry’ and ‘combustion’ as in scramjet vehicles.
iv.It is expected to replace most of the CFD simulations for aero characterisation, which is currently being carried out using commercial software.
v.It is designed to leverage both Central Processing Unit (CPU) and Graphics Processing Unit (GPU) architectures, ensuring compatibility with existing and future supercomputing facilities, fostering collaboration with academic and government institutions.
vi.PraVaHa has been used in the Gaganyaan program for aerodynamic analysis of human-rated launch vehicles such as Heavy Lift Launch Vehicle Mark -3 (HLVM3), Crew Escape System (CES), and Crew Module (CM).
vii.ISRO moves forward in achieving Atma Nirbhar India by making PraVaHa available to a greater segment of society.
About Computational Fluid Dynamics (CFD):
i.Computational Fluid Dynamics (CFD) is a tool to predict the aerodynamic and aerothermal loads which solve numerically the equations of conservation of mass, momentum, and energy along with the equation of state.
ii.It has matured enough to offer high accuracy and fast simulations, addressing aerospace challenges like high pressure and intense heat flux.
About Indian Space Research Organisation (ISRO)
Chairman – Sreedhara Panicker Somanath
Headquarters – Bengaluru, Karnataka
Established in – 1969
ESA Launched EarthCARE to Study the Role of Clouds & Aerosols in Earth’s Climate
On 29th May 2024, The European Space Agency (ESA) launched EarthCARE (Earth Cloud Aerosol and Radiation Explorer) satellite onboard SpaceX’s Falcon 9 rocket from the Vandenberg Space Force Base in California, the United States of America (USA).
- EarthCARE, a joint venture between ESA and the Japan Aerospace Exploration Agency (JAXA), will study how clouds and aerosols affect Earth’s climate.
- It was designed and built by a consortium of more than 75 companies under Airbus as the prime contractor.
About EarthCARE:
i.EarthCARE is designed to examine the role clouds and aerosols in reflecting incident solar radiation back out to space and trapping infrared radiation emitted from Earth’s surface. This data is crucial for understanding and mitigating climate change.
- Aerosols are tiny particles such as dust and pollutants suspended in Earth’s atmosphere.
iii.EarthCARE satellite is equipped with 4 state-of-the-art instruments to provide a holistic view of the interplay between clouds, aerosols and radiation.
- Cloud Profiling Radar: Provided by JAXA, the cloud profiling radar is the world’s 1st radar that measures the velocity of upward and downward flows within clouds. It provides information on the vertical structure and internal dynamics of clouds.
- Atmospheric Lidar: It delivers profiles of aerosols, thin clouds, and cloud-top information.
- Multispectral Imager: It captures wide-scene imagery in multiple wavelengths.
- Broadband Radiometer: It measures reflected solar and infrared radiation coming from Earth.
iv.Current Status: EarthCARE is controlled from ESA’s European Space Operations Centre in Darmstadt, Germany. The satellite is undergoing a commissioning phase to check and calibrate its systems.
v.Expected Impact: This mission enhances the accuracy of global climate models, predicts future climate scenarios, and offers insights into Earth’s radiation balance, against the background of the climate crisis.
About European Space Agency (ESA):
It is an intergovernmental organisation, created in 1975 that provides Europe’s gateway to space.
Director General– Dr. Josef Aschbacher
Headquarters– Paris, France
ENVIRONMENT
Paraparatrechina neela: New Blue Ant Species Discovered From Siang Valley in Arunachal Pradesh
Researchers have discovered a new ant species named Paraparatrechina neela in Arunachal Pradesh’s remote Siang Valley. The name neela, which signifies the colour blue in most Indian languages, was derived from its unique blue colouration. It is easily distinguishable from all known species of Paraparatrechina by its metallic-blue body.
- This discovery marks the 1st new species of Paraparatrechina in 121 years.
- The findings of the new species were published in the peer-reviewed journal ZooKeys.
Note: The only other known species, P. aseta, was described in 1902 in the Indian subcontinent.
Genus and Species:
Genus– Paraparatrechina; Species– neela
i.Paraparatrechina is a genus of small ants, measuring 1–2 millimeters (mm) long, in the subfamily Formicinae.
ii.These ant species are typically found in the Afrotropical, Australasian, Indomalayan, Oceanian, and Palearctic biogeographic regions.
iii.Currently, Paraparatrechina encompasses 38 valid species and 4 valid subspecies. The Indomalayan biogeographic region has 14 known species.
- P. neela’s unique metallic blue colouration is not observed in any other species within this genus.
Characteristics:
i.P. neela has an opaque, metallic blue body with exceptions in antennae, mandibles, and legs.
ii.Its total length measures less than 2 mm with large eyes relative to head length.
iii.The head is subtriangular with strongly convex lateral margins and a triangular mandible with 5 teeth (1 long apical, followed by an acutely triangular tooth, 2-minute denticles, and a triangular basal tooth).
Discovery Details:
The discovery was made by entomologists Dharma Rajan Priyadarsanan and Ramakrishnaiah Sahanashree from Ashoka Trust for Research in Ecology and the Environment (ATREE) in Bengaluru (Karnataka), and Aswaj Punnath from the University of Florida, the United States of America (USA).
Note: P.neela was collected from an elevation of 803 meters.
SPORTS
Kedar Jadhav Announces Retirement From All Forms Of Cricket
On June 3 2024, Kedar Jadhav, Indian cricketer has announced his retirement from all forms of cricket at the age of 39.
- He made his international debut for India in November 2014 during an One Day International (ODI) against Sri Lanka at Ranchi (Jharkhand).
- In total, the Maharashtra player has played 73 one-day matches, scoring 1,389 runs at an average of 42.09 with two centuries and six fifties, and nine T20 internationals with 122 runs in six innings. He is captained the Kolhapur Tuskers in the Maharashtra Premier League, which got underway in Pune on June 2 2024.
- In the Indian Premier League (IPL), he made his debut with Delhi Daredevils (now Delhi Capitals) and went on to represent Chennai Super Kings (CSK), Kochi Tuskers Kerala (KRK), Sunrisers Hyderabad (SRH)and Royal Challengers Bengaluru (RCB).
- Jadhav was part of the 2019 World Cup, lastly played an ODI for India against New Zealand in Auckland on February 8, 2020.
IMPORTANT DAYS
International Day of Innocent Children Victims of Aggression 2024 – June 4
The United Nations (UN) International Day of Innocent Children Victims of Aggression is annually observed across the globe on 4 June to acknowledge the pain suffered by children worldwide who are victims of physical, mental, and emotional abuse.
- This Day initially focused on the Lebanese children victims in the context of the 1982 Lebanon War and the Palestinian children victims of Israel’s acts of aggression.
Background:
i.On 19 August 1982, the UN General Assembly (UNGA) at its 7th emergency special session, adopted the resolution A/RES/ES-7/8, proclaiming 4 June of each year as the International Day of Innocent Children Victims of Aggression.
ii.The first-ever International Day of Innocent Children Victims of Aggression was observed on 4 June 1983.
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