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Union Health Minister Dr Mansukh Mandaviya releases 4th State Food Safety Index 2021-22; TN tops among Larger States
i.On June 7, 2022 i.e. on the occasion of World Food Safety Day which was held on the theme ‘Safer food, better health’, the Union Minister Dr Mansukh Mandaviya, Ministry of Health and Family Welfare (MoH&FW) released 4th State Food Safety Index (SFSI) for 2021-2022 by the Food Safety and Standards Authority of India (FSSAI).
ii.Among larger states, Tamil Nadu (TN) was the top ranking state, followed by Gujarat and Maharashtra.
iii.Among the smaller states, Goa stood first followed by Manipur and Sikkim.
iv.Among UTs, Jammu & Kashmir (J&K), Delhi and Chandigarh secured first, second and third ranks.
v.The Union Health Minister also felicitated 11 winning smart cities of the EatSmart Cities Challenge, launched by FSSAI in 2021-2022 in association with the Smart Cities Mission (SCM) under the aegis of Ministry of Housing and Urban Affairs (MoHUA).
About Ministry of Health and Family Welfare (MoH&FW):
Union Minister– Mansukh Mandaviya (Rajya Sabha Gujarat)
Minister of State (MoS)– Dr. Bharati Pravin Pawar (Dindori, Maharashtra)
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IIM Ahmedabad Launches India’s First Agri Land Price Index : ISALPI
The Indian Institute of Management, Ahmedabad (IIMA),Gujarat, in association with Indian agri-land marketplace SFarmsIndia has launched the IIMA-SFarmsIndia Agri Land Price Index (ISALPI), a first-of-its-kind land price index.
- This will record and present ‘quality controlled’ data of prices of agricultural land across India.
- The Misra Centre for Financial Markets and Economy at IIM-A will host this index on its official website.
i.Currently, ISALPI is based on land listing data from states of Andhra Pradesh, Karnataka, Maharashtra, Tamil Nadu, Telangana, and Uttar Pradesh.
ii.In addition, the index benefits policymakers, local governments, environmentalists, investors, real estate developers and financiers and is important in terms of benchmarking land prices in rural and semi-urban areas.
Note – Out of 200 million hectares, India houses just 2% of the world’s cropped land; but feeds over 15% of the world’s population.
SFarmsIndia has a strong focus on data warehousing and mining aimed at bringing cutting-edge agri-realty domain-specific Artificial Intelligence (AI) capabilities to the market.
CEO of SFarmsIndia – Kamesh Mupparaju
Established – 2018
Headquarters – Hyderabad, Telangana
MoPSW Engages Young Professionals through Sagarmala Young Professional Scheme
The Ministry of Ports, Shipping and Waterways (MoPSW) has formulated the Sagarmala Young Professional scheme to engage talented, forward-thinking and dynamic young professionals in various divisions of the MoPSW.
i.The professionals will have the opportunity to learn about the functioning of the government as well as developmental policy concerns.
ii.Focus – This scheme focuses on active on-the-ground learning for young professionals and also involves them in decision making.
iii.Their work is to deliver high-quality inputs in areas such as infrastructure, data analysis, project management, start-up, innovation, skill development, digital transformation and the environment.
i.Initially, more than 25 young professionals will be hired under this scheme and the initial period of engagement shall be 2 years which can be extended to additional 2 years on the basis of performance.
ii.Professionals must have acquired qualification in B.E/ B.Tech, B. Planning and/or MBA or equivalent degree in relevant subject/ field and minimum three year of relevant work experience.
- Based on the requirement of the Ministry, Professionals in Accountancy, Finance, Legal, Statistics, Economics/Commerce, Data Analytics will also be engaged.
About Ministry of Ports, Shipping and Waterways (MoPSW):
Union Minister – Sarbananda Sonowal (Constituency – Rajya Sabha, Assam)
Minister of state – Shripad Yesso Naik , Shantanu Thakur
India & Poland Sign MLAT to Support Investigation & Prosecution of Crimes
India and Poland have signed a Mutual Legal Assistance Treaty(MLAT) on Criminal Matters. The treaty aims to enhance the effectiveness of both Poland and India in the investigation and Prosecution of various crimes including crimes related to terrorism, through cooperation and mutual legal assistance in criminal matters.
- VSK Kaumudi, special secretary (internal security), Ministry of Home Affairs(MHA) and Adam Burakowski, Poland’s ambassador to India signed the treaty on behalf of India and Poland respectively.
- Poland becomes the 45th country to sign an MLAT on criminal matters with New Delhi. The other countries include Australia, Canada, France, Iran, Israel, Russia, Singapore, Ukraine, the United Kingdom(UK) and the United States of America(USA).
- The Union Cabinet of India, chaired by Prime Minister (PM) Narendra Modi, approved the treaty in December 2021, but the formal signing was delayed due to the Russia-Ukraine crisis.
SMV Railway Terminal: India’s 1st Centralised AC Railway Terminal in Bengaluru Becomes Operational
On 6th June 2022, The one-of-its-kind airport-like Sir M Visvesvaraya(SMV) Railway Terminal at Baiyappanahalli, Bengaluru, Karnataka, India’s 1st centrally air-conditioned (AC) railway terminal, became operational.
- South Western Railway (SWR) decided to skip the inauguration and open the terminal for public use due to the criticism of the inordinate delay.
- The Ernakulam Tri-Weekly Express to Ernakulam, Kerala, became the first train to depart from the station.
- The terminal will be inaugurated by Prime Minister(PM) Narendra Modi at a later date.
BANKING & FINANCE
IRDAI eases Capital Requirement for Insurers to offer PMJJBY Schemes
The Insurance Regulatory and Development Authority of India (IRDAI) reduced the capital required to be held by insurers offering Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) by almost 50%.
- This decision has been taken to facilitate more participation of insurers under the scheme, and to provide financial security to Indians through life insurance.
i.This step by IRDAI will supplement the recent hike in premium rates by Government of India for PMJJBY and Pradhan Mantri Suraksha Bima Yojana (PMSBY) w.e.f. June 1, 2022, to make these schemes economically viable.
- The premium for PMJJBY increased from Rs 330 to Rs 436, and the PMSBY premium will rise from Rs 12 to Rs 20.The premium rate of PMJJBY has been revised upward to ₹1.25 per day.
ii.It will also support the life insurers in achieving the target set by the Government.
It provides life insurance cover worth Rs 2 lakh to all account holders aged 18-50 years. Its coverage is only for death, therefore the benefit will only go to the nominee.
i.According to government data, the number of active subscribers enrolled under PMJJBY as of March 31, 2022, is 64 million.
ii.The claims ratio (percentage of amount of claims paid to premium earned) for PMJJBY was 145.24%as of March 31, 2022.
iii.About Rs 9,737 crore has been collected as premium under the scheme while claims of Rs 14,144 crore have been paid.Rs.1,134 crore collected towards premium and claims of ₹2,513 crore paid under PMSBY.
iv.Earlier, life insurance companies earned Rs 289 (net of commission) for renewals pertaining to PMJJBY. Post revision in premiums, companies will earn Rs 425 from renewals.
About Insurance Regulatory and Development Authority of India (IRDAI):
Chairman– Debasish Panda
CoinSwitch Launches India’s First Rupee-Based Crypto Index CRE8
CoinSwitch(CoinSwitch Kuber), India’s largest crypto trading platform, has launched CRE8 (Crypto Rupee Index), India’s first-of-its-kind benchmark index to measure the performance of the Indian onshore Rupee-based crypto market. The index is owned and administered by CoinSwitch.
What exactly is CRE8?
The Crypto Rupee Index (CRE8) is a list of eight of the most valuable crypto assets based on market capitalization.
- Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Polkadot (DOT), and Dogecoin (DOGE) are the index’s constituents.
These are cryptos that have performed well in the past, are liquid, and are fundamentally strong. It excludes stablecoins and derivatives of other index components.
i. CRE8 covers over 85% of the cryptocurrency market. It assesses the weightage of different coins using the square root of the market capitalization method, ensuring that no single coin dominates the index.
ii.It uses the CoinSwitch platform to track the performance of crypto assets in Indian Rupee (INR) value and is based on real-time trades. It will be refreshed 1,400 times per day to ensure that it accurately reflects real-time market movement.
- To remain updated with the market, the index will be rebalanced monthly and reconstituted every quarter.
iii. It represents the total market value of all crypto assets as a relative to a given base period (1 October 2020) and a base value of Rs. 1,000.
iv.CRE8 is tailored to Indian cryptocurrency investors, as a reliable domestic crypto index that helps them to make informed investment decisions.
v.The coins in the index are decided based on the fulfilment of the following criteria:Listed and Trading: The crypto asset must have traded for at least six months on CoinSwitch’s platform; Currency: They must be available for trading in INR on the CoinSwitch platform.; Liquidity: The crypto asset should have a minimum daily trading value of Rs 5 lakh for each day during the last 3 months.
- As most of the crypto indices are now US-based, they do not represent Indian offshore prices.
- Whereas, the Indian crypto market, is driven by factors such as, Indian demand & supply, global prices, and INR exchange rates.
- The CRE8 will be a well-diversified Virtual Digital Asset (Crypto) Index denominated in INR that reflects Indian market circumstances.
Axis Bank & Indian Oil Launch Co-Branded RuPay Contactless Credit Card
Axis Bank and Indian Oil Corporation Limited (IOCL) have announced the launch of a co-branded contactless credit card – the “INDIANOIL AXIS BANK RuPay Credit Card” – in collaboration with National Payments Corporation of India (NPCI).
This move marks the beginning of a strategic partnership between one of India’s leading private banks and India’s indigenous card scheme.
i. With RuPay, the partnership aims to offer innovative as well as customized benefits on the co-branded credit card. Customers can apply for the card either in person or online.
- It is powered by cutting-edge technology to ensure that customers have a safe and rewarding experience.
ii.Users of this card will receive a 100% cashback up to Rs. 250 as an onboarding gift on all fuel expenses made within the first 30 days of issuance of the card. It would also provide a surcharge waiver of 1% on fuel spends between Rs. 200 – Rs. 5000.
iii. Apart from a fuel surcharge waiver and cashback on fuel purchases, the credit card offers a host of other benefits on everyday purchases, like accelerated reward points, an instant discount on movie tickets, and dining delights at partner restaurants.
iv.In addition,there is also an annual fee waiver if the cardholder spends over Rs. 50,000 in a year. It also offers customers loyalty points in the form of EDGE REWARD points.
About Axis Bank Ltd:
MD & CEO – Amitabh Chaudhry
Establishment – 1993 (Begun Operations-1994)
Headquarters – Mumbai, Maharashtra
Tagline – Badhti Ka Naam Zindagi
Tamilnad Mercantile Bank gets SEBI’s approval to Launch & Raise Funds Through IPO
Thoothukudi-based Tamilnad Mercantile Bank Limited(since 1921), a Private Sector Bank has received the Securities and Exchange Board of India’s (SEBI) approval to launch and raise funds through an Initial Public Offering (IPO).
According to the Draft Red Herring Prospectus(DRHP), the IPO comprises a fresh issue of 1,58,27,495 equity shares and an Offer For Sale (OFS) of up to 12,505 equity shares by shareholders. The offer will constitute 10% of the post-offer paid-up equity share capital.
- The OFS consists of equity shares by D Prem Palanivel, Priya Rajan, Prabhakar Mahadeo Bobde, Narasimhan Krishnamurthy, M Malliga Rani and Subramanian Venkiteshwaran Iyer.
- In September 2021, the bank filed the preliminary IPO paper with SEBI and obtained its observations on 30th May 2022.
- The bank plans to mobilise more than Rs 1,000 crore from the public issue.
ECONOMY & BUSINESS
World Bank cuts India’s growth forecast to 7.5% for FY23
The World Bank (WB) in its latest Global Economic Prospects June 2022 Report has reduced its FY23 real Gross Domestic Product (GDP) growth forecast for India to 7.5%, from 8%(April 2022,forecast), amid inflationary pressures, supply-chain disruptions, and geopolitical tensions.
- India’s Growth is also expected to slow further to 7.1% in 2023-24.
- This is the second time WB has revised its GDP growth forecast for India in FY23. In April 2022, it had trimmed the forecast from 8.7% to 8%.
- It also lowered its global growth forecast for calendar year 2022 to 2.9% from 4.1%( January,2022 forecast ).
i.A rise in prices across all items from fuel to vegetables and cooking oil pushed WPI or Wholesale Price-Based Inflation to a record high of 15.08% in April 2022 and retail inflation to a near 8-year high of 7.79%.
ii.India’s growth will be supported by fixed investment undertaken by the private sector and by the government, which has introduced incentives and reforms to improve the business climate.
India’s growth cut by other Agencies:
i.In May 2022, Moody’s Investors Service reduced the GDP projection to 8.8% for the calendar year 2022 from 9.1% earlier.
ii.S&P Global Ratings too had cut India’s growth projection for FY23 to 7.3%, from 7.8% earlier.
iii.In March 2022, Fitch had cut India’s growth forecast to 8.5%, from 10.3% for FY23, while International Monetary Fund (IMF) has lowered the projection to 8.2% from 9%
iv.Asian Development Bank (ADB) has pegged India’s growth at 7.5%, while Reserve Bank of India (RBI) in April cut the forecast to 7.2% from 7.8% for FY23.
SCIENCE & TECHNOLOGY
Union Minister Dr.Jitendra Singh Released a book, DST Launches Geospatial Self Certification Portal
On 7th June 2022 Union Minister of State (Independent Charge) Ministry of Science and Technology Dr Jitendra Singh released a book and its e-Version on 8 Years of Administrative and Pension reforms (2014-2022).
- The Department of Science and Technology (DST)under the Ministry of Science and Technology in collaboration with National Informatics Centre (NIC) launched the Self Certification Portal for conveying adherence to provisions of Geospatial Guidelines by Individuals, companies, organisations, and Government agencies.
- Self-Certification Portal Link: https://geospatial.dst.gov.in/ .
i.Background – On 15th February 2021, DST released new Geospatial Data Guidelines as a part of vision to introduce much-needed changes in liberalising the Geospatial industry.
ii.Key Developments – As per the new guidelines, there shall be no requirement for prior approval, security clearance, licence or any other restrictions on the collection, generation, preparation, dissemination, storage, publication, updating and/or digitization of Geospatial Data and Maps within the territory of India.
- The Portal will also streamline the process of creation of Geospatial Data, Maps, products, solutions and services with self-certification regime.
iii.Uses – The liberalised Geospatial regime would play a pivotal role to modernise agriculture, manufacturing, construction, utilities, disaster management, urban development and governance.
- Individual companies, organisations, and Government agencies are free to process the acquired Geospatial data, build applications and develop solutions using such data and data products by selling, distributing, sharing, swapping, disseminating, and publishing without having to wait for clearances and approvals.
Note – Anubhav portal was launched in March 2015 for retiring government officials to leave a record of their experiences while in Govt service .
About Department of Science and Technology (DST):
Union Minister – Jitendra Singh
Secretary of DST – Dr. Srivari Chandrasekhar
Established – 1971
Headquarters – New Delhi, Delhi
US, South Korea Fires 8 Ballistic Missiles to Sea, Matching North Korea’s Launches
The US and South Korean militaries launched eight ballistic missiles into the sea that equaled the North Korean missile display.
- After the North Korean launches, Japan and the United States conducted a joint ballistic missile exercise that aimed at rapid response capability.
About the launches:
i.North Korea – The North Korea is firing eight short-range missiles over 35 minutes from at least four different locations, including from western and eastern coastal areas and two inland areas north of and near Pyongyang, North Korea.
- It was North Korea’s 18th round of missile tests in 2022 and also first launches of intercontinental ballistic missiles in nearly five years.
ii.U.S. and South Korean – The two forces conducted a similar live-fire drill that involved an Inter Continental Ballistic Missile (ICBM) flown on medium-range trajectory and two short-range weapons.
- The live-fire exercise involved eight Army Tactical Missile System missiles fired into South Korea’s eastern waters across 10 minutes.
About South Korea:
President – Yoon Suk-yeol
Capital – Seoul
Currency –South Korean won(KRW)
China Launched Crewed Mission for Construction of China’s Tiangong Space Station
On 5th May 2022, China successfully launched the 3 astronauts(including 1 woman astronaut) on a 6-month mission to complete the construction of China’s Tiangong Space Station, a space station being built by the China Manned Space Agency (CMSA) in the Low Earth Orbit(LEO).
- The 3 Chinese astronauts, onboard the Shenzhou-14 spacecraft was lifted off from the Jiuquan Satellite Launch Center in northwest China.
The crew comprises 3 trained pilots from the People’s Liberation Army (PLA) air force: Commander Chen Dong; Liu Yang, the first Chinese woman in space; and Pilot Cai Xuzhe.
China to become the only country to own Space Station:
Following the completion of Space Station construction, China will become the only country to own a space station.
- The International Space Station (ISS) of Russia is a collaboration project involving 5 space agencies(countries), National Aeronautics and Space Administration (NASA) (United States of America), Roscosmos (Russia), Japan Aerospace Exploration Agency (JAXA) (Japan), European Space Agency, and Canadian Space Agency (CSA) (Canada).
Note: China has been excluded from the ISS since 2011 when the USA banned NASA from engaging with China.
About the Shenzhou-14 crewed mission:
i.The 3 member mission will complete the assembly and construction of the space station, developing it from a single module structure into a national space laboratory with 3 modules which include the core model Tianhe (“Harmony of the Heavens”) and 2 lab modules, Wentian (“Asking the Heavens”)and Mengtian (“Dreaming of the Heavens”).
ii.During their 6-month stay in the orbit, the 3 member crew will witness the two lab modules, Tianzhou-5 cargo craft and Shenzhou-15 crewed spaceship dock with Tianhe.
iii.The crew will rotate with the Shenzhou-15 crew in orbit, and return to the Dongfeng landing site in the Inner Mongolia Autonomous Region, in north China in December 2022.
About the Tiangong Space Station:
i.The construction of China’s three-module space station began in April 2021 with the launch of the core module Tianhe – the 1st and biggest of the station’s three modules.
ii.The Wentian lab module carrying a small mechanical arm will be launched in July 2022 and the Mengtian lab module will be launched in October 2022.
iii.The space station will operate in low-Earth orbit at an altitude between 340 to 450 kilometres. Following its completion, the station will have a lifespan of 10 years.
Nadal Clinches 22nd Grand Slam Title in ROLAND-GARROS 2022
Rafael Nadal Parera ‘Rafa’, the legendary Spanish professional tennis player clinched his 22nd Grand Slam title (Men’s singles category) in ROLAND-GARROS (French Open) 2022, held at Court Philippe-Chatrier, Paris, France. Nadal defeated Casper Ruud (Norway) in the final of French open 2022 and added his 14th ROLAND-GARROS 2022 trophy to his cabinet with the prize money of 2.2 million euros.
- The French Open 2022 was played on clay courts. Rafael Nadal is known as “The King of Clay (for 14 titles in French Open)”.
Winner of Women’s Singles:
Iga Swiatek of Poland (Rank 1) defeated Coco Gauff of United States (US) (Rank 13) to win second career Grand Slam title at French open 2022.
Founded – 1891
Main Sponsor – BNP Paribas
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Mithali Raj Retires From All Forms of International Cricket
On 8th June 2022, Indian women’s cricket team captain, Mithali Raj(39 years old), hailing from Jodhpur, Rajasthan, announced her retirement from all forms of international cricket, completing her 23 years of international career.
- Previously in September 2019, she retired from twenty 20 International (T20Is) but continued to play One Day Internationals(ODIs) and Test cricket.
About Mithali Raj:
i.Mithali Raj made her International debut in the ODI against Ireland at Milton Keynes in 1999.
ii.She has represented India in around 232 ODI matches and scored 7805 runs (50.68 on average). She is the only female cricketer to reach the 7,000-run mark.
She holds the record for most runs in Women’s ODI.
iii.She has played 12 Test Matches for India scoring 699 runs and 89 T20Is scoring 2,364 runs.
iv.She has scored a tally of 10,868 runs across all three formats and became the “leading run-scorer of all-time in women’s international cricket”. In March 2021, she became the first Indian woman cricketer and second internationally to complete 10,000 runs across all formats. She went past Charlotte Edwards’ tally of 10273 runs.
v.India reached the final of the 2017 ICC Women’s World Cup under her captaincy, where they were narrowly defeated by England.
vi.She was also the team’s captain in the 2005 ICC Women’s World Cup, where India was defeated by Australia in the finals.
Awards & honours:
i.The government of India(GoI) honoured her with Arjuna Award in 2003 for her outstanding achievement in cricket and the Major Dhyan Chand Khel Ratna Award in 2021.
ii.GoI honoured her with Padma Shri in 2015 for her contribution to sports.
iii.She was honoured with the Wisden Leading Woman Cricketer in the World in 2017.
ICC WODI batting rankings: Mithali Raj retains 7th rank & Smriti Mandhana retains 9th rank
According to the International Cricket Council(ICC) Women’s ODI (WODI) Player Rankings (June 2022) – WODI ODI Batting Rankings, India’s Mithali Raj has retained the 7th rank and Smriti Mandhana has retained the 9th rank.
- The ranking was topped by Alyssa Healy of Australia (rank 1) followed by Natalie Sciver of England (rank 2) and Beth Mooney of Australia (rank 3).
Indian Women’s cricket team has ranked 4th on the WODI Women’s ODI ranking (team ranking).
- Australia has topped the team ranking followed by South Africa and England on 2nd and 3rd Rank respectively.
BOOKS & AUTHORS
IISM Launches “The Winning Formula for Success” India’s 1st Sports Marketing Book by Vinit Karnik
India’s leading sports and Management institute, the International Institute of Sports & Management (IISM) in Mumbai, Maharashtra, launched India’s first-ever book on Sports Marketing titled “Business of Sports: The Winning Formula for Success” authored by noted Sports author Vinit Karnik. This is the first book in a series to be launched as a part of a knowledge series. The book has been published by Popular Prakashan Pvt. Ltd.
- The book was released by Bhagat Singh Koshiyari, the Governor of Maharashtra in the presence of Nilesh Kulkarni Founder & Director of IISM.
World Oceans Day 2022 – June 8
The United Nations(UN)’s World Oceans Day is annually observed across the globe on 8th June to create awareness about the importance of the Oceans as the major source of food and medicine and a critical part of the biosphere. The day also highlights the various measures taken toward the protection of the oceans.
The World Ocean Network has been instrumental in building support for ocean awareness events on World Oceans Day.
- World Ocean Network is sponsored by the United Nations Educational, Scientific and Cultural Organization (UNESCO)’s Intergovernmental Oceanographic Commission (IOC).
The theme of World Oceans Day 2022 is “Revitalization: collective action for the ocean”.
>> Read Full News
World Brain Tumour Day 2022 – June 8
World Brain Tumour Day is annually observed across the globe on 8th June to create awareness about brain tumours, abnormal growth or mass of cells in or around your brain. Brain Tumours can be malignant (cancerous) or benign (noncancerous).
- The Grey awareness ribbon is the official symbol of Brain Tumour awareness.
The theme for World Brain Tumour Day 2022 is “Together We Are Stronger”.
i.The German Brain Tumour Association (Deutsche Hirntumorhilfe e.V.), a non-profit organisation working to raise public awareness and educates people about a brain tumour, started the international observance “World Brain Tumour day” in 2000, as a tribute to the patients with a brain tumour and their family.
ii.Since then, the day is annually celebrated on 8th June.
>> Read Full News
AP CM Launches YSR Yantra Seva Scheme & Flagged off State Level Distribution of Tractors
On 7th June 2022 Andhra Pradesh (AP) Chief Minister (CM) YS Jagan Mohan Reddy launched YSR Yantra Seva Scheme and flagged off the distribution of tractors and combine harvesters at Chuttugunta Centre in Guntur, Andhra Pradesh.
- Chief Minister YS Jagan Reddy flagged off the state-level mega distribution of tractors and combine harvesters under YSR Yantra Seva Pathakam in Guntur.
i.Around 3,800 tractors and 320 combined harvesters would be made available at Rythu Bharosa Centres (RBKs) across AP.
ii.Funds – A subsidy of Rs. 175 crore has been credited into 5,260 farmer group bank accounts.
- The State government provides 40 percent subsidy, loans for 50 percent of the machinery cost, and the remaining 10 percent can be paid by the farmer’s group.
iii.Almost 10,750 RBKs were set up to assist the farmers from seed to sale and farm equipment like tractors and harvesters were also made available.
- About 10,750 YSR Yantra Seva Centres would be set up at each RBK level at a cost of Rs.2,016 crore and 1,615 harvesters will be made available at cluster level where the paddy cultivation is widespread.
iv.CM inaugurated the Jindal Waste to Energy Plant in Kondaveedu of Palnadu district in Andhra Pradesh. and unveiled the pylon installed at the plant.
About Andhra Pradesh:
Governor – Biswabhusan Harichandan
Wildlife Sanctuary – Sri Lankamalleswara WildLife Sanctuary, Krishna Wildlife sanctuary
Tiger Reserve – Nagarjuna Sagar Srisailam Tiger Reserve( Reserve renamed as Rajiv Gandhi Wildlife Sanctuary in 1992)
UPEIDA Signs MoU with SBI, BoB, PNB & SIDBI To Boost Investment in UP Defence Industrial Corridor
The Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) has inked Memorandums of Understanding (MoUs) with three major nationalized banks of India – State Bank of India (SBI), Bank of Baroda (BOB) & Punjab National Bank (PNB) and with Small Industries Development Bank of India (SIDBI), the principal financial institution for promotion, financing and development of the Micro, Small and Medium Enterprise (MSME) sector.
- The collaboration is part of UPEIDA’s ongoing support for investors in the Uttar Pradesh (UP) Defence Industrial Corridor.
According to the agreement, banks would provide financial assistance to investors in the UP Defence Industrial Corridor in the form of ease of doing business.
Note: SIDBI is one of the five All India Financial Institutions (AIFIs) regulated and supervised by the Reserve Bank of India (RBI).
- The other 3 are Export-Import Bank of India (EXIM Bank), National Bank for Agriculture and Rural Development (NABARD) & National Housing Bank (NHB).
MoU with [email protected]
UPEIDA has also inked an MoU with the Indian Institute of Technology (IIT) Kanpur Research and Technology Park Foundation ([email protected]) to address IIT Kanpur’s rising research and development (R & D) requirements and potential for collaboration with the domestic aerospace and defence ecosystem.
- [email protected] encourages defence businesses who are looking to set up production and manufacturing facilities in UP as part of the Defence Industrial Corridor.
- It allows them to set up R & D units on its premises and assists them in the areas of innovation and research.
i.The state of UP’s support and assistance will boost private sector participation in the defence sector, which will help India realize its goal of achieving a defence production target of USD 25 billion by 2025.
ii.The Indian defence industry is undergoing fast development, with the ‘Make in India’ initiative focusing on bolstering domestic production.
iii. The Indian government has made significant progress in the form of policies and schemes, including the establishment of Defence Industrial Corridors, with a major focus on self-reliance in defence sector.
About Uttar Pradesh (UP):
Chief Minister (CM) – Yogi Adityanath
Folk Dance – Kajri; Hurka Baul; Khayal; Nautanki & Naqal
Stadiums – Shri Brahm Dutt Dwivedi Sports Stadium, K.D. Singh Babu Sports Stadium, Chaudhary Charan Singh Sports Stadium
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Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 4 June 2022|
|1||Union Health Minister Dr Mansukh Mandaviya releases 4th State Food Safety Index 2021-22; TN tops among Larger States|
|2||IIM Ahmedabad Launches India’s First Agri Land Price Index : ISALPI|
|3||MoPSW Engages Young Professionals through Sagarmala Young Professional Scheme|
|4||India & Poland Sign MLAT to Support Investigation & Prosecution of Crimes|
|5||SMV Railway Terminal: India’s 1st Centralised AC Railway Terminal in Bengaluru Becomes Operational|
|6||IRDAI eases Capital Requirement for Insurers to offer PMJJBY Schemes|
|7||CoinSwitch Launches India’s First Rupee-Based Crypto Index CRE8|
|8||Axis Bank & Indian Oil Launch Co-Branded RuPay Contactless Credit Card|
|9||Tamilnad Mercantile Bank gets SEBI’s approval to Launch & Raise Funds Through IPO|
|10||World Bank cuts India’s growth forecast to 7.5% for FY23|
|11||MoS Jitendra Singh Released a book, DST Launches Geospatial Self Certification Portal|
|12||US, South Korea Fires 8 Ballistic Missiles to Sea, Matching North Korea’s Launches|
|13||China Launched Crewed Mission for Construction of China’s Tiangong Space Station|
|14||Nadal Clinches 22nd Grand Slam Title in ROLAND-GARROS 2022|
|15||Mithali Raj Retires From All Forms of International Cricket|
|16||IISM Launches “The Winning Formula for Success” India’s 1st Sports Marketing Book by Vinit Karnik|
|17||World Oceans Day 2022 – June 8|
|18||World Brain Tumour Day 2022 – June 8|
|19||AP CM Launches YSR Yantra Seva Scheme & Flagged off State Level Distribution of Tractors|
|20||UPEIDA Signs MoU with SBI, BoB, PNB & SIDBI To Boost Investment in UP Defence Industrial Corridor|