Daily Current Affairs 11th June, 2024
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Daily Current Affairs 11 June 2024 for Banking | Insurance | SSC and other related exams.
National News
Centre releases US$ 16.74 billion (Rs. 1,39,750 crore) instalment of Tax Devolution to States
-> The Central Government has released an instalment of US$ 16.74 billion (Rs. 1,39,750 crore) for tax devolution to the states. This release includes the regular devolution amount for June 2024 and an additional instalment, enabling State Governments to accelerate development and capital spending. With this latest disbursement, the total amount devolved to states for 2024-25 has reached US$ 33.47 billion (Rs. 2,79,500 crore) as of 10 June 2024.
-> The Interim Budget 2024-25 includes providing US$ 146.08 billion (Rs. 12,19,783 crore) for devoting taxes to states. The additional funds released this month will support State Governments in enhancing their developmental activities and infrastructure projects, thereby boosting economic growth at the state level.
-> The biggest chunk of the fund went to Uttar Pradesh at Rs 25,069.88 crore, followed by Bihar at Rs 14,056.12 crore, Madhya Pradesh got Rs 10,970.44 crore, and West Bengal was devolved Rs 10,513.46 crore.
IIT Kanpur, Centre of Excellence for UAVs, and DFI launch UDAAN: Drone Startup Acceleration Program
-> The Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur has joined forces with the Centre of Excellence for Capacity Building, Training, and Design of Unmanned Aerial Vehicles at IIT Kanpur (Drone CoE Kanppur), an initiative by the Government of Uttar Pradesh, and the Drone Federation of India (DFI) to launch the UAV/UAS/Drone Acceleration and Networking (UDAAN) Program. This program promises to be a game-changer for aspiring and promising drone startups in India, providing them with the resources and expertise needed to scale their businesses rapidly.
-> The UDAAN program will select 20 startups annually, divided into two cohorts, for an intensive acceleration journey. These startups will be incubated at SIIC, IIT Kanpur, gaining access to cutting-edge R&D facilities, technical mentorship, financing opportunities, and invaluable industry relationships.
-> The launch was part of a partnership between SIIC, the Centre of Excellence for Capacity Building, Training, and Design of Unmanned Aerial Vehicles at IIT Kanpur (Drone CoE Kanpur), an initiative by the Government of Uttar Pradesh, and the Drone Federation of India (DFI).
Modi 3.0 signs first file for release of PM Kisan Nidhi funds to farmers
-> Prime Minister Narendra Modi’s first action after being sworn in for his third term was to sign a file authorising the release of the 17th installment of the PM Kisan Nidhi.
-> This initiative will benefit 9.3 crore farmers, distributing approximately Rs 20,000 crore.
-> After signing the file, PM Modi said “Ours is a Government fully committed to Kisan Kalyan. It is therefore fitting that the first file signed on taking charge is related to farmer welfare. We want to keep working even more for the farmers and the agriculture sector in the times to come.”
Cabinet approves assistance for 3 crore more houses under PM Awas Yojana
-> The Union Cabinet on Monday announced the assistance for the building of 3 crore houses under the Pradhan Mantri Awas Yojana (PMAY). This was the first Cabinet meeting of the new government that was sworn-in yesterday. Prime Minister Narendra Modi chaired the meeting.
-> Under PMAY, a total of 4.21 crore houses have been completed for eligible poor families under the housing schemes in the last 10 years.The Pradhan Mantri Awas Yojana (Urban) Mission was launched in June 2015, intending to provide housing for all in urban areas by the year 2022.
NHRC takes serious cognizance of ‘Nata Pratha’
-> The National Human Rights Commission (NHRC) has issued a notice to four states—Uttar Pradesh, Madhya Pradesh, Rajasthan, and Gujarat. This notice follows a 2020 case in which a father sold his daughter for 2.5 lakhs and later filed a complaint with the commission upon discovering her dead body.
-> The statement cites the 2020 case where a father alleged that his daughter was kidnapped in Rajasthan’s Salamgarh and found her dead body in Danpur, Banswara. The commission’s investigation revealed that the father had sold his daughter for 2.5 lakhs under Nata Pratha on July 11, 2019. However, the groom paid only 60,000 and failed to pay the remaining amount. The father then bought his daughter back and fixed her Nata to another man for 32,000.
-> The NHRC has expressed serious concern over the social practice of Nata Pratha, where girls are sold by their family members under the guise of marriage in parts of Rajasthan, Madhya Pradesh, Uttar Pradesh, and Gujarat.
International News
India Welcomes Egypt, Iran, UAE, Saudi Arabia And Ethiopia Joining BRICS
-> India on June 10, wholeheartedly welcomed Egypt, Iran, UAE, Saudi Arabia and Ethiopia joining the BRICS as their representatives attended for the first time a key meeting of the grouping hosted by Russia. Senior diplomat Dammu Ravi led the Indian delegation at the BRICS Foreign Ministers’ Meeting in Nizhny Novgorod, in western Russia.
-> The BRICS Foreign Ministers meeting in Nizhny Novgorod was the first ministerial meeting following BRICS expansion in 2023 when Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE joined the grouping as full-fledged BRICS members.
-> Meanwhile, BRICS Ministers of Foreign Affairs have expressed their concern about ongoing conflicts in many parts of the world and reiterated their commitment to the peaceful resolution of disputes through diplomacy, inclusive dialogue and
Fortress Conservation: Tanzania now ineligible for European Union conservation grant over Maasai evictions
-> The European Commission (EC) has made a significant decision regarding Tanzania’s eligibility for a conservation grant under its NaturAfrica initiative. This decision has implications for conservation efforts in East Africa, particularly concerning the Eastern Rift Savannahs and Watersheds (ERiSaWa) component of the initiative.
Its 18 million Euro conservation grant to be launched in East Africa
-> The goal of the NaturAfrica project is to protect biodiversity by promoting sustainable development in Africa’s most important landscapes. The goal of the project is to protect the environment while also helping local communities financially and socially. It also wants to make sure that there is good governance so that important ecosystem services are maintained. Key Landscapes for Conservation and Development (KLCDs) are the main areas of the program.
-> NaturAfrica strives to balance environmental protection, support local livelihoods, and ensure good governance for vital ecosystems.
Banking & Finance
RBI monetary policy review: Bulk deposits limit for banks may be raised
-> The Reserve Bank of India (RBI) has proposed to revise the bulk deposit limit for scheduled commercial banks (SCBs) and small finance banks (SFBs) to Rs 3 crore.
—–The limit for bulk deposits was increased in 2019 for SCBs and SFBs to Rs 2 crore from Rs 1 crore earlier.
-> The RBI announced a proposal to revise the definition of bulk fixed deposits. As per the proposal, banks’ fixed deposits of Rs 3 crore and above will be considered bulk deposits. Currently, a bank FD of Rs 2 crore and above is considered a bulk FD.
-> Further, the central bank also plans to define the bulk deposit limit for Local Area Banks as ‘Single Rupee term deposits of ₹1 crore and above’, as applicable in case of RRBs.
India’s EXIM Bank opens East Africa office to boost business & trade in continent
-> The Export-Import Bank of India (India Exim Bank) opened its East Africa Representative Office in Nairobi, Kenya, with the goal of expanding India’s business presence in East Africa, a resource-rich and demographically young continent. This program aims to strengthen economic and business connections between India, Kenya, and the wider East African area.
-> Over the last decade, trade between India and East Africa has increased dramatically, with merchandise trade projected to reach US$12.9 billion in 2022, up from US$9.7 billion in 2013. Notably, India’s exports to East Africa have increased from $8.6 billion in 2013 to $9.4 billion in 2022, demonstrating a strengthening of trade relations.
-> This is part of a plan to grow its business around the world. The goal of this project is to improve India’s trade and business ties with East Africa, which is known for having a lot of resources and young people.
Business & Economy
Urban-Rural Consumption Expenditure Differential Falls To 71% In 2022-23: Survey: MoSPI Survey
-> The Survey on Household Consumption Expenditure by the Ministry of Statistics and Programme Implementation has found that Rural India’s average monthly capital expenditure stood 71 percent lower than Urban India in the period from August 2022 to July 2023. The survey said that rural India on average, clocked a monthly Per capita consumption expenditure (MPCE of three thousand 773 rupees in the period under review.
-> The average monthly per capita consumption expenditure in rural sector has risen more sharply by 40 percent in 2022-23 as compared to 2011-12 at real prices, while the MPCE in urban sector has risen 33 percent in the same period, Ministry of Statistics and Program Implementation survey released on June 7 showed.
-> The survey said that rural India on average, clocked a monthly Per capita consumption expenditure MPCE of three thousand 773 rupees in the period under review.
Sports
Sumit Nagal clinches Heilbronner Neckarcup Challenger, eyes Olympic Qualification
-> The Indian tennis player beat Switzerland’s Alexander Ritschard in a three-set thriller to bag the men’s singles crown at the Heilbronn Neckarcup 2024.
-> The Indian tennis player, ranked 95th in the men’s singles world rankings, beat world No. 184 Alexander Ritschard of Switzerland in three sets 6-1, 6(5)-7(7), 6-3 in the final that lasted two hours and 22 minutes.
-> With this victory, Sumit virtually qualified for the upcoming Paris Olympics. He also achieved an all time high World Ranking of 77 in the Live ATP ranking.
-> It was Nagal who began the final on a positive note. He seized a 4-0 lead early in the first set and gave his opposition a tough time. Ritschard couldn’t keep up and the Indian tennis player secured the first set comfortably.
Puja Tomar becomes first Indian to win in UFC
-> Puja made history by becoming the first Indian woman to win a bout at the Ultimate Fighting Championship. She achieved this with a split-decision victory over Brazil’s Rayanne dos Santos in the 52kg division category in Louisville, Kentucky, United States, on Saturday.
-> The 30-year-old, known as “cyclone“, signed a contract with the UFC last year in October to become the first woman from India to compete in the biggest Mixed Martial Arts promotion.
-> In her debut fight in the women’s strawweight division, she triumphed by split decision with scores of 30-27, 27-30, and 29-28.
Carlsen, Ju Wenjun Win Norway Chess Titles
-> World number-one Magnus Carlsen has won his sixth Norway Chess title after beating GM Fabiano Caruana in armageddon while GM Hikaru Nakamura was held to an incredibly tense classical draw by GM Praggnanandhaa Rameshbabu. The young Indian won the armageddon but still takes third place behind Nakamura.
-> Magnus Carslen and Ju Wenjun emerged as the champions at the Norway Chess tournament at Stavanger. Carlsen, with 17.5 points, was the clear winner in the open section, as was Ju, with 19, in the women’s.
-> Women’s World Champion Ju Wenjun took the Women’s Norway Chess title and a prize of around $65,000 after scoring a smooth classical win against her great rival GM Lei Tingjie. That allowed GM Anna Muzychuk to climb into second place with an armageddon win over GM Koneru Humpy.
Portland Track Festival 2024 athletics: Gulveer Singh takes over 5000m national record from Avinash Sable
-> India’s Gulveer Singh set a national record in the men’s 5000m event at the Portland Track Festival 2024 athletics meet held at the Mount Hood Community College in the United States of America on Monday.
-> Gulveer clocked the national record timing of 13 minutes 18.92 seconds to surpass the previous record of 13 minutes 19.30 seconds, set by Avinash Sable last year.
-> India’s previous national record in the 5000m was 13:19.30 set by Avinash Sable at the Sound Running On Track Fest in Los Angeles last year.
-> In athletics, India’s Gulveer Singh has clinched the silver medal in the Men’s 5000-metre race at the Portland Track Festival High-Performance Meet in Portland, US. Dylan Jacobs of USA bagged the gold, while his compatriot Eric Van Der Els won the bronze medal.
Appointments
SKM chief Prem Singh Tamang sworn in as chief minister of Sikkim for second consecutive term
-> The Sikkim Krantikari Morcha supremo Prem Singh Tamang took oath as the Chief Minister of the Himalayan state for a second consecutive term on Monday in Gangtok.
-> The governor administered the oath of office and secrecy to Chief Minister Prem Singh Tamang and his Council of Ministers during the swearing-in ceremony at Paljor Stadium.
-> Eleven ministers took oath after Chief Minister Tamang. These included Sonam Lama, Arun Kumar Upreti, Samdup Lepcha, Bhim Hang Limboo, Bhoj Raj Rai, G T Dhungel, Puran Kumar Gurung, Pintso Namgyal Lepcha, Nar Bahadur Dahal, Raju Basnet and Tshering Thendup Bhutia.
Sub-Lieutenant Anamika Rajeev becomes Navy’s first woman helicopter pilot
-> Sub-Lieutenant Anamika B.Rajeev has become the Indian Navy’s first woman helicopter pilot after she received the prestigious ‘Golden Wings’ following completion of a rigorous training at a naval air station in Tamil Nadu’s Arakkonam.
-> Sub-Lieutenant Anamika Rajeev became the first woman pilot who will be allowed to fly helicopters such as Sea Kings, ALH Dhruvs, Chetaks and MH-60R Seahawks.
-> A passing out parade was held on Friday to mark the graduation of the 102nd Helicopter Conversion Course (HCC) and completion of stage I training of the 4th Basic Helicopter Conversion Course (BHCC) at Naval Air Station – INS Rajali, Arakkonam, Tamil Nadu.
Awards
Maharashtra Governor Ramesh Bais Presents ‘Plastic Export Excellence Award’
