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NATIONAL AFFAIRS
MoM Signs MoU with Central TB Division To Collaborative On Tuberculosis Elimination by 2025
The Ministry of Mines (MoM) has signed a Memorandum of Understanding (MoU) with Central Tuberculosis (TB) Division of Ministry of Health & Family Welfare (MoHFW) for collaborative and convergent action towards elimination of TB in India by 2025.
Signatories: The MoU was signed by Farida M. Naik, Joint Secretary, MoM and Dr. K. K. Tripathy, Economic Advisor, MoHFW, Government of India (GoI) in the presence of officials from both the ministries.
- This partnership aims for collaborative field actions like webinars and other awareness-building initiatives under the National TB Elimination Programme (NTEP) by engaging the Central Public Sector Enterprises (CPSEs), attached offices, subordinate offices and autonomous bodies of the MoM.
- This initiative will also help in capacity building of health functionaries of Public Sector Undertaking (PSUs’) hospitals & health centres for specialised campaigns for eradication of TB at grass-root level.
INTERNATIONAL AFFAIRS
India Participated in the Inaugural IPEF Clean Economy Investor Forum held in Singapore 
India participated in the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum held in Singapore from 5th to 6th June 2024.
- The Indian delegation to the forum was led by Sunil Barthwal, Secretary (Commerce) of the Ministry of Commerce and Industry(MoCI).
- A business delegation led by Invest India also participated in the Forum.
Key Points:
i.During the inaugural IPEF Investor Forum, the IPEF partners and the Private Infrastructure Development Group announced the operational launch of the IPEF Catalytic Capital Fund.
ii.10 Indian Startups and Companies were selected in the Climate Tech Track to pitch their innovative ideas, technologies and solutions that contribute to mitigating or adapting to climate change.
iii.4 Indian companies were selected in the sustainable infrastructure track to pitch their concepts on energy transition, transport and logistics, and waste management/waste to energy to global investors.
About the Republic of Singapore:
Prime Minister (PM)- Lawrence Wong
Capital- Singapore City
Currency- Singapore Dollar (SGD)
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UNICEF Child Nutrition Report 2024: 1 in 4 Children Globally Live in Severe Child Food Poverty
According to the United Nations Children’s Fund (UNICEF)’s 2024 Child Nutrition Report titled “Child Food Poverty: Nutrition Deprivation in Early Childhood”, globally, 1 in 4 children (27%) are living in severe child food poverty in early childhood, this amounts to around 181 million children under 5 years of age.
- These children are 50% more likely to experience wasting, a form of malnutrition which is defined as low weight-for-height.
- For the first time, this report examines dietary deprivation among the world’s youngest people in nearly 100 countries, and across all income groups.
About the United Nations Children’s Fund (UNICEF):
UNICEF was established in 1946 as the United Nations International Children’s Emergency Fund (UNICEF). It was renamed as United Nations Children’s Fund (UNICEF) in 1953
Executive Director– Catherine M. Russell
Headquarters– New York, The United States of America (USA)
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UN Report: Global Public Debt Reached a Record of USD 97 Trillion in 2023
According to the United Nations (UN) assessment report, “ A World of Debt 2024: A Growing Burden to Global Prosperity,” the global public debt (both domestic and external borrowing by governments) has reached USD 97 trillion in 2023, an increase of USD 5.6 trillion compared to 2022.
- Developing countries account for 30% of the total global debt, with their debt growth rate doubling that of developed nations.
- The report was prepared by the Global Crisis Response Group technical team at the UN Trade and Development (UNCTAD), under the leadership of Secretary-General Rebeca Grynspan.
WMO Climate Update (2024-2028): Global Temperature Likely to Temporarily Exceed 1.5°C in Next 5 Years
According to the World Meteorological Organization (WMO) annual report, “WMO Global Annual to Decadal Climate Update (2024-2028)”, there is an 80% chance that the average global temperature will temporarily exceed 1.5°C above pre-industrial levels for at least one of the next 5 years (2024-2028).
- Predictions of the global mean near-surface temperature indicate a range of 1.1 degree Celsius (°C) to 1.9°C above the 1850-1900 baseline for each year from 2024 to 2028.
- There’s an 86% chance of at least one of these years setting a new temperature record, potentially exceeding the current warmest year, 2023.
About World Meteorological Organization (WMO):
WMO is a specialized agency of the United Nations (UN) responsible for promoting international cooperation in atmospheric science and meteorology.
Secretary-General– Professor Celeste Saulo
Headquarters– Geneva, Switzerland
Established in 1950
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Peru & Slovakia Becomes the 41st and 42nd Signatories to the Artemis Accords
On 30th May 2024, Peru and Slovakia officially became the 41st and 42nd nation to sign the National Aeronautics and Space Administration (NASA)’s ‘Artemis Accords’, which establish a practical set of guidelines for peaceful space exploration and use of outer space.
Signatories:
Peru: Javier González-Olaechea, Minister of Foreign Affairs of Peru signed the Accords on behalf of Peru.
Slovakia: Tomáš Drucker, Minister of Education, Research, Development, and Youth, Slovakia signed the Accords on behalf of Slovakia.
- The signing ceremony was hosted by NASA Administrator Bill Nelson with the United States(US) Department of State at NASA Headquarters in Washington, D.C., The United States of America(USA).
Points to note:
i.On 19th April 2024, Slovenia became the 39th country to sign the Artemis Accords during a US-Slovenia strategic dialogue in Ljubljana, Slovenia. State Secretary Matevž Frangež of the Ministry of the Economy, Tourism, and Sport signed the Accords on behalf of Slovenia.
ii.On 15th May 2024(in conjunction with Vilnius Space Days), Lithuania became the 40th nation to sign the NASA’s Artemis Accords. Aušrinė Armonaitė, Lithuanian Minister of Economy and Innovation, signs the Artemis Accords in Vilnius, Lithuania
About Artemis Accords:
i.The Artemis Accords was jointly launched by NASA and US Department of State in 2020 with an aim of advancing bilateral and multilateral space cooperation between the signatories.
ii.It was formally signed on 13th October 2020 by eight founding countries: Australia, Canada, Italy, Japan, Luxembourg, the United Arab Emirates (UAE), the United Kingdom (UK), and the United States of America (USA).
- The Artemis Accord is a non-binding agreement with no financial commitments.
iii.It established the principles for peaceful space exploration based on the Outer Space Treaty (1967) as well as other agreements including the Registration Convention, the Rescue and Return Agreement.
42 Signatories of Artemis Accords (as of May 30th 2024):
Angola, Argentina, Australia, Bahrain, Belgium, Brazil, Bulgaria, Canada, Colombia, Czech Republic, Ecuador, France, Germany, Greece, Iceland, India, Israel, Italy, Japan, Lithuania, Luxemburg, Mexico, the Netherlands, New Zealand, Nigeria, Peru, Poland, Republic of Korea, Romania, Rwanda, Saudi Arabia, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, the United Arab Emirates(UAE), the United Kingdom(UK), the USA, Uruguay.
India, South Korea, USA, Japan & EU Launches Biopharmaceutical Alliance
India, South Korea, Japan, the United States of America (USA), and the European Union (EU) launched an alliance to put joint efforts to build a resilient supply chain in the Biopharmaceutical sector.
- The inaugural meeting of the Biopharmaceutical Alliance, took place in San Diego, California, the USA during the BIO International Convention 2024, the world’s largest Biopharmaceutical exhibition held from 3rd to 6th June 2024.
- The representatives and government officials from India, South Korea, the USA, Japan and the EU attended the inaugural meeting.
Background:
South Korea (officially known as the Republic of Korea – ROK) and the USA decided to form an alliance during the ROK-USA Next Generation Critical and Emerging Technologies (CET) Dialogue held in Seoul, South Korea in December 2023 and expanded it to include India, Japan and the EU.
Key Points:
i.The Bio-pharmaceutical alliance was launched in response to the drug supply shortages experienced during the COVID-19 pandemic.
ii.The participants stressed the importance of the reliable and sustainable supply chain and agreed to coordinate the respective countries’ bio laws, legislation, and research and development support initiatives.
iii.They recognized that the production of essential raw materials are concentrated in a few countries and committed to collaborate to create a complete pharmaceutical supply chain map.
Russian Cosmonaut Oleg Kononenko Becomes the First Person To Spend 1,000 Cumulative Days in Space
Oleg Dmitriyevich Kononenko, a Russian Cosmonaut has become the first person to spend 1,000 Cumulative days in space. He currently works at the International Space Station (ISS).
- He set the space-time record after making five flights to the International Space Station dating back to 2008.
- His current trip to the ISS began on September 15 2023, when he launched alongside National Aeronautics and Space Administration (NASA) astronaut Loral O’Hara and compatriot Nikolai Chub.
- He first took the cumulative space time record in February 2024, when he surpassed the total of 878 days, 11 hours, 29 minutes, and 48 seconds set by fellow Russian Gennady Padalka in 2015.
- If Kononenko’s mission ends as scheduled September 23 2024, he will have spent a total of 1,110 days in orbit.
BANKING & FINANCE
SEBI Introduced Financial Disincentives Framework for MIIs for Surveillance-Related Lapses in Stock Markets
On 6th June 2024, The Securities and Exchange Board of India (SEBI) introduced a framework for Financial Disincentives For Surveillance Related Lapses (FDSRL) for Market Infrastructure Institutions (MIIs) including stock exchanges, clearing corporations and depositories in case of surveillance-related lapses in stock markets.
- The framework has a provision to impose penalty on MIIs from 1 lakh to Rs 1 crore for each instance of surveillance related lapse during the Financial Year.
- The framework will come into effect from 1st July 2024.
Key Features:
i.The financial disincentives for surveillance –related lapses are decided based on total annual revenue of MIIs and the number of lapses in a Financial Year.
ii.The framework defined market surveillance by MIIs include: to monitor the day-to-day activities in the markets including trading, margining, settlement, demat transactions and holdings.
- To keep track on the conduct of market intermediaries through generation and processing of alerts.
- To seek trading rationale, to carry out snap-analysis and to report any abnormal or suspicious activities.
iii.Surveillance related lapses can classified under 3 categories
- Any lapse occurred in the implementation of decisions taken during the surveillance meetings which also includes even partial and delayed implementation of any decision or absence of, partial or delayed about informing the regulator on its implementation.
- Any lapse occurred in discharge of surveillance activities as per agreed scope and timelines.
- Any incomplete reporting or non-reporting of surveillance related activity within the specified timelines.
iv.The framework has introduced penalties for 1st, 2nd and 3rd instance of surveillance-related lapses depending upon annual turnover of MIIs.
- If the annual turnover of MII is greater than Rs 1000 crore, penalty for 1st, 2nd and 3rd instance will Rs 25 lakh, Rs 50 lakh and Rs 1crore respectively.
- If the annual turnover of MII is less than Rs 1000 crore and up to Rs 300 crore, penalty for 1st, 2nd and 3rd instance will Rs 5 lakh, Rs 10 lakh and Rs 20 lakh respectively.
- If the annual turnover of MII is less than Rs 300 crore, penalty for 1st, 2nd and 3rd instance will Rs 1 lakh, Rs 2 lakh and Rs 4 lakh respectively.
v.In case of imposition of penalty, the concerned MII is required to deposit the penalty within the 15 days to the Investor Protection and Education Fund (IPEF) of SEBI.
PhonePe Partners with PickMe To Enable UPI Payments For Indian Tourists in Sri Lanka
PhonePe, a leading Fintech firm has partnered with PickMe, Sri Lankan ride-hailing platform to enable Unified Payments Interface (UPI)-based payments for Indian travellers in Sri Lanka.
Note: In May 2024, PhonePe also partnered with LankaPay to enable UPI payments in Sri Lanka and in April 2024, PhonePe inked a pact with the Singapore Tourism Board (STB) to enable UPI payments for Indian visitors in Singapore.
Key Points:
i.This partnership advances the travel experience for Indian tourists by providing the ease of cashless transactions on PickMe rides from the moment they exit Bandaranaike International Airport, Sri Lanka.
ii.PickMe aims to reduce stress for Indian visitors to Sri Lanka by incorporating PhonePe’s UPI-based Quick Response (QR) payment method into their platform.
iii.The cashless payment option will make ride-hailing on PickMe hassle-free and safer, providing a new revenue stream for drivers.
iv.This collaboration not only improves ease for Indian travellers, but it also assists to drive digital transformation in Sri Lanka’s transportation sector.
v.Previously, PickMe also extended its services to Jaffna and Anuradhapura to increase their accessibility across Sri lanka .
vi.PickMe also offers solutions for Indian travellers as well as other tourists looking to travel from the southernmost point (Dondra Head) to the northernmost point (Point Pedro) of Sri Lanka.
About Sri Lanka:
Prime Minister (PM) – Dinesh Chandra Rupasinghe Gunawardena
Capital – Colombo (executive and judicial capital); Sri Jayawardenepura Kotte (legislative capital)
Currency – Sri Lankan Rupee
APPOINTMENTS & RESIGNATIONS
Sameer Bansal Appointed as MD & CEO of PNB MetLife
PNB MetLife India Insurance Company Limited, a private life insurer has appointed Sameer Bansal as its Managing Director (MD) and Chief Executive Officer (CEO). He will take charge of the post with effect from July 1 2024.
- He succeeds Ashish Srivastava, who has been appointed as MD for New York based MetLife Inc.’s Global Shared Services team in India.
- Bansal joined PNB MetLife in 2007 and is currently the Chief Distribution Officer and member of the leadership team.
Note: MetLife India has partnered with Punjab National Bank (PNB)and known as PNB MetLife India Insurance Company Limited (PNB MetLife). PNB obtained a 30% ownership in MetLife India.
ACQUISITIONS & MERGERS
NCLT Grants Approval For Vistara-Air India Merger
The National Company Law Tribunal (NCLT) approved the merger of Vistara with Air India allowing a period of nine months for the dissolution of Vistara.
- The merger resulted in the creation of one of the world’s largest airline conglomerates.
- The approval was granted to the ‘Composite Scheme of Arrangement’ between the petitioner companies and their shareholders under Sections 230 to 232 and Companies Act, 2013 provisions.
Note: Vistara is a joint venture (JV) between Tata Group and Singapore Airlines. The Tata Sons bought Air India and Air India Express and took its ownership in January 2022.
i.The merger was first announced in November 2022. Under the merger deal, Tata Sons Private Limited will hold 73.38% stake in the merged entity, and Singapore Airlines 25.1%. The remaining 1.52% will be held by SBICAP Trustee Limited on behalf of Air India Employee Settlement Trust.
ii.The Competition Commission of India (CCI) and the Directorate General of Civil Aviation (DGCA) have also given clearance for the merger scheme.
iii.The DGCA will have to approve the transfer of Vistara’s crew, operations and aircraft to Air India and further various government authorities will also have to grant Foreign Direct Investment (FDI) approval for Singapore Airlines share and security clearances.
iv.The approval should be per Civil Aviation Regulations (CARs) issued by the Ministry of Civil Aviation and the DGCA.
SCIENCE & TECHNOLOGY
TRISHNA: ISRO’s Joint Endeavour with France’s CNES to Monitor Earth Temperature
On the occasion of World Environment Day 2024 (5th June), the Indian Space Research Organisation (ISRO) announced the details of Mission TRISHNA (Thermal Infra-Red Imaging Satellite for High-Resolution Natural Resource Assessment), a collaborative endeavour with the CNES (Centre national d’études spatiales), French space agency.
- TRISHNA is a dedicated satellite to monitor Earth’s surface temperatures and mitigate climate change.
- The mission, set to be launched in 2025, is designed for a 5-year operational life.
About TRISHNA:
TRISHNA is engineered to deliver high spatial and high temporal resolution monitoring of Earth’s surface temperature, emissivity, biophysical and radiation variables for surface energy budgeting at regional to global scale
Primary Objectives:
i.Monitoring energy and water budgets of the continental biosphere with the purpose of assessing terrestrial water stress and water use.
ii.High-resolution observation of water quality and dynamics in coastal and inland waters.
Secondary objective:
i.This will also support the assessment of urban heat islands, detection of thermal anomalies linked to volcanic activity and geothermal resources, and monitoring of snow-melt runoff and glacier dynamics.
ii.This will also provide data on aerosol optical depth, atmospheric water vapor, and cloud cover.
Key Features:
i.TRISHNA satellite will be equipped with the two primary payloads: Thermal Infra-Red (TIR) and Visible-Near Infra-Red-Short Wave Infra-Red (VNIR-SWIR)
- TIR, provided by CNES, will have 4-channel long-wave infrared imaging sensor capable of high-resolution surface temperature mapping.
- VNIR-SWIR, developed by ISRO, includes 7 spectral bands that will help to monitor biophysical and radiation variables.
ii.The satellite will operate in a sun-synchronous orbit at an altitude of 761 Kilometer (Km) with a local time of 12:30 PM at the equator.
- This orbit will provide a spatial resolution of 57 meters(m) for land and coastal areas of 1 km for oceanic and polar regions.
Significance:
i.The data from mission will contribute significantly to global initiatives such as: Group on Earth Observations Global Agricultural Monitoring (GEOGLAM)initiative for agricultural monitoring, Sustainable Development Goals (SDGs) of the United Nations (UN) and the Global Water Watch.
ii.The data from mission will help policy makers, watershed managers and farming community to use sustainable solutions in India. Thus, help to address water and food related challenges.
iii.The mission is expected to boost Remote Sensing technology which is important for monitoring extreme temperatures and weather conditions around the world.
About Indian Space Research Organisation(ISRO):
Chairman– Sreedhara Panicker Somanath
Headquarters– Bengaluru, Karnataka
Established– 1969
SPORTS
Indian Footballer Sunil Chhetri Retires from International Football
On 6th June 2024, Sunil Chhetri(39 years old), legendary Indian Footballer and the captain of the Indian National football Team(nicknamed “the Blue Tigers”) since 2012, retired from international football, after India’s FIFA World Cup 2026 qualifier against Kuwait.
Note: The India Vs Kuwait FIFA World Cup 2026 qualifier was held at the Vivekananda Yuba Bharati stadium in Salt Lake, Kolkata, West Bengal. The match ended with a 0-0 draw.
About Sunil Chhetri:
i.Sunil Chhetri, hailing from Secunderabad (Telangana), begun his professional football career with Mohun Bagan in 2002. He ended his 19 year long career representing India with 151 appearances and 94 goals.
- With 94 international goals, Sunil Chhetri is the 4-highest goal-scorer behind Cristiano Ronaldo(128), Iran’s retired Ali Daei(108) and Lionel Messi(106).
- He played his 150th game against Afghanistan in the 2026 FIFA World Cup Qualifier and scored his 94th international goal.
ii.He made his senior-level debut for India in June 2005 against Pakistan wherein he scored his first International goal against Pakistan.
iii.He has also played for Jagatjit Cotton & Textile(JCT) Football Club (FC); East Bengal FC; Dempo Sports Club and Chirag United.
iv.In the Indian Super League (ISL), He has played for Mumbai City FC in 2015 and 2016 and joined Bengaluru FC in 2017.
- With 61 goals in 155 matches, he is the highest Indian goal-scorer in the Indian Super League and the first Indian to have hit a hat-trick in ISL.
Career Highlights:
i.He was a part of the Indian team which won the Nehru Cup for the first time in 2007. He went on to win two more Nehru Cup titles with India in 2009 and 2012.
ii.He was also a part of the Indian team which won the South Asian Football Federation (SAFF) Championship in 2011, 2015, 2021 and 2023. He was the top-scorer in 2011, 2021 and 2023 editions.
iii.He holds the record as the first Indian player to play in three continents(Asia; America and Europe).
- He signed for Kansas City Wizards, an American men’s professional soccer club in 2011 and became the third Indian footballer after Mohammad Salim and Bhaichung Bhutia to play in a foreign league.
- He has also represented Sporting CP, Portuguese sports club based in Lisbon, and made three appearances.
iv.Chhetri led India to victory in the 2008 AFC Challenge Cup, which helped India qualify for its first AFC Asian Cup in 27 years.
Awards:
i.Government of India honoured him with Arjuna Award (football) in 2011; Padma Shri for Sports-Football in 2019 and Major Dhyan Chand Khel Ratna Award (football) in 2021.
- He was the first footballer to receive the Khel Ratna award, India’s highest sporting honour.
ii.He has won the prestigious All India Football Federation (AIFF) Player of the Year title a total of seven times in 2007, 2011, 2013, 2014, 2017, 2018-19 and 2021-22 seasons.
IMPORTANT DAYS
World Food Safety Day 2024 – June 7
The United Nations (UN) World Food Safety Day (WFSD) is annually observed across the globe on 7 June to highlight the significance of addressing food safety incidents.
- WFSD also aims to inspire actions to prevent, detect, and manage foodborne risks, contributing to food security, human health, economic prosperity, etc.
7 June 2024 marks the observance of the 6th WFSD.
- WFSD is jointly facilitated by the Food and Agriculture Organization of the UN (FAO) and the World Health Organization (WHO).
The 2024 theme of WFSD is, “Food safety: prepare for the unexpected” and the slogan of WFSD 2024 is “Food safety is everyone’s business.”
Background:
i.On 20 December 2018, the UN General Assembly (UNGA) adopted the resolution A/RES/73/250, proclaiming every 7 June as World Food Safety Day.
ii.The first-ever WFSD was observed on 7 June 2019 to highlight the numerous benefits of safe food.
About World Health Organization (WHO):
Director General– Dr Tedros Adhanom Ghebreyesus
Headquarters– Geneva, Switzerland
Founded in 1948
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