-> An MoU between CSC SPV and Ministry of Agriculture & Farmer’s Welfare was signed here today to convert FPOs registered under ‘Formation & Promotion of 10,000 FPOs scheme’ into CSCs and help them to deliver citizen-centric services.
->This initiative will give a new dimension to the movement of rural development and digital empowerment of the country. There will be an immense increase in agriculture related services of CSC. It will also help FPOs to become a nodal center for providing various services like Direct Benefit Transfer (DBT), Interest Subsidy Scheme (ISS), Crop Insurance Scheme (PMFBY) and fertilizer and seed inputs.
-> The CSC has always strived to improve the lives of citizens in rural areas through various initiatives. Farmers and agriculture are an integral part of our initiative. Thanks to the vast network of CSCs present in remote areas of the country, they are already providing various services to the farmers through tele-consultation, crop insurance, e-veterinary, Kisan Credit Card and PM Kisan schemes.
Participation of leaders from India’s neighbourhood and Indian Ocean region in the swearing-in ceremony of Prime Minister and Council of Ministers
->The swearing-in ceremony of Prime Minister Shri Narendra Modi and the Council of Ministers took place in Rashtrapati Bhavan on 09 June 2024. Leaders from India’s neighbourhood and the Indian Ocean region participated in the ceremony as honoured guests.
->The leaders who attended the ceremony included President of Sri Lanka, H.E. Mr. Ranil Wickremesinghe; President of Maldives, H.E. Dr. Mohamed Muizzu; Vice-President of Seychelles, H.E. Mr. Ahmed Afif; Prime Minister of Bangladesh, H.E. Sheikh Hasina; Prime Minister of Mauritius, H.E. Mr. Pravind Kumar Jugnauth accompanied by his spouse; Prime Minister of Nepal, H.E. Mr. Pushpa Kamal Dahal ‘Prachanda’; and Prime Minister of Bhutan, H.E. Mr. Tshering Tobgay. Leaders of Maldives, Bangladesh, Nepal and Bhutan were accompanied by Ministers.
STPI celebrates 33rd Foundation Day: Commemorates three decades of contributions towards building India’s technological future
->Software Technology Parks of India (STPI), an autonomous society under the Ministry of Electronics and Information Technology (MeitY), celebrated its 33rd Foundation Day on 5th June 2024 at a special event held in New Delhi, Delhi).
-> Significance: STPI, founded on 5th June 1991, commemorates over 3 decades of exceptional contributions towards the Indian technology sector in areas of software exports
-> STPI launched two new web portals, SayujNet, a networking and resource discovery platform, and STPI-Workspace, an STPl Workspace portal, to strengthen the tech startup ecosystem in terms of networking and affordable incubation space in India.
INTERNATIONAL NEWS
Global public debt hits record $97 trillion in 2023, UN urges action
->According to the UN report titled ”A world of debt 2024: A growing burden to global prosperity”, highlights the unprecedented surge in public debt, comprising both domestic and external general government borrowing which reached a historic peak of $97 trillion in 2023, up by a notable $5.6 trillion from the previous year.
->In 2023, public debt in developing countries hit $29 trillion, or about 30% of the total worldwide – an increase from a 16% share in 2010, the U.N. office said.
-> In the developing world, which is home to 3.3 billion people, 1 in 3 countries spends more on paying interest than on programs in “critical areas for human development” such as health care, education and climate action.
1 in 4 children globally live in severe child food poverty due to inequity, conflict, and climate crises – UNICEF
-> Of the 181 million children living in severe food poverty, 65 per cent reside in just 20 countries. Around 64 million affected children are in South Asia, and 59 million are in Sub-Saharan Africa.
-> The report finds nearly half (46 per cent) of all cases of severe child food poverty are among poor households where income poverty is likely to be a major driver, while 54 per cent – or 97 million children – live in relatively wealthier households, among whom poor food environments and feeding practices are the main drivers of food poverty in early childhood.
-> For the first time, Child Food Poverty: Nutrition Deprivation in Early Childhood analyses the impacts and causes of dietary deprivation among the world’s youngest people in nearly 100 countries, and across income groups. It warns that millions of children under the age of five are unable to access and consume a nutritious and diverse diet to sustain optimal growth and development in early childhood and beyond.
Nepal’s largest Hydel project constructed with Indian assistance marks breakthrough
-> It is a 900 MW run-of-the-river hydropower project being constructed on the Arun River in Sankhuwasabha District of Eastern Nepal.
-> The project comprises a 70-meter-tall and 466-meter-long concrete gravity dam and a Head Race Tunnel (HRT) of 11.74 km with underground an power house containing four generating units of 225 MW each on left bank.
-> It is being developed with Indian assistance at a cost of Rs. 144 billioN. Once completed, it will be the biggest hydroelectric facility in Nepal.
-> Nepal will receive 21.9% of the electricity generated at the power plant as free powerduring these initial 25 years of commercial operations.
NASA Welcomes Slovakia as New Artemis Accords Signatory
-> Grounded in the Outer Space Treaty of 1967 (OST), the Artemis Accords are a non-binding set of principles designed to guide civil space exploration and use in the 21st century.
-> Slovakia joins 41 other nations – Angola, Argentina, Australia, Bahrain, Belgium, Brazil, Bulgaria, Canada, Colombia, Czech Republic, Ecuador, France, Germany, Greece, Iceland, India, Israel, Italy, Japan, Lithuania, Luxembourg, Mexico, the Netherlands, New Zealand, Nigeria, Peru, Poland, the Republic of Korea, Romania, Rwanda, Saudi Arabia, Singapore, Slovenia, Spain, Sweden, Switzerland, Ukraine, the United Arab Emirates, the United Kingdom, the United States, and Uruguay – in affirming the Accords’ principles for sustainable civil space activity. The Department of State and NASA lead the United States’ outreach and implementation of the Accords.
-> Minister of Education, Research, Development and Youth Tomáš Drucker signed the Accords for Slovakia in the presence of State Department Deputy Assistant Secretary Sonata Coulter, NASA Administrator Bill Nelson and Slovak Ambassador to the United States Radovan Javorcik. As friends, partners, and allies, the United States and Slovakia have built a lasting relationship based on shared democratic values, economic prosperity, and close people-to-people ties. We are especially proud that our partnership extends beyond Earth’s boundaries, from Slovak descendant Eugene Cernan’s landing on the moon in 1972 to today’s historic signi
BANKING & FINANCE
Centre releases Rs. 1,39,750 crore installment of Tax Devolution to States
-> With today’s release, total Rs. 2,79,500 crore devolved to States for FY2024-25 till 10th June 2024.
-> It has been decided that apart from the regular release of the devolution amount for the month of June 2024, one additional instalment will be released. This release cumulatively amounts to Rs. 1,39,750 crore in the current month. This will enable State Governments to accelerate development and capital spending.`
-> The Interim Budget 2024-25 has a provision of Rs. 12,19,783 crore towards devolution of taxes to States. With this release, the total amount devolved (for FY 2024-25) to States till 10 June 2024 is Rs. 2,79,500 crore.
PhonePe partners with Sri Lanka’s PickMe for UPI transactions
-> With this, Indian travellers can make online payments for hailing rides in the neighbouring country with PhonePe accounts. The partnership will enable PhonePe to bolster its international presence and cater to the growing number of Indian tourists travelling to Sri Lanka
-> PhonePe’s operating revenue jumped 77% YoY to INR 2,914 Cr in FY23, while loss rose 39% YoY to INR 2,795.3 Cr.
-> Last month, PhonePe enabled UPI payments in collaboration with LankaPay across LankaQR merchant points via the Phonepe App. The transactions facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network, also aimed to cater to the needs of Indian tourists and entrepreneurs in Sri Lanka.
Moody’s Maintains Stable Outlook on Three Indian PSU Banks’ Ratings
-> Credit ratings and research giant, Moody’s on Friday, affirmed the Baa3 ratings on three Indian public sector banks including Bank of Baroda (BOB), Canara Bank, and Punjab National Bank (PNB), ANI reported.
-> BOB’s, Canara’s and PNB’s NPL ratios respectively declined to 2.9 per cent, 4.2 per cent and 5.7 per cent as of 31 March 2024 from 3.8 per cent, 5.4 per cent and 8.7 per cent a year earlier, supported by lower bad loans (or slippage) as well as stronger recoveries and higher write-offs.
-> Moody’s also believes that India’s strong operating environment will continue to support their credit fundamentals over the next 12-18 months.
-> Bank of Baroda is headquartered in Mumbai and reported consolidated assets of Rs 16.5 trillion (USD 197.8 billion) as of March 31, 2024. Punjab National Bank is headquartered in New Delhi and reported consolidated assets of Rs 16.0 trillion (USD 191.8 billion) as of March 31, 2024
RBI announces HaRBInger 2024 with focus on Zero Financial Frauds, Being Divyang Friendly
-> The Reserve Bank of India (RBI) on Friday launched its third global hackathon – ‘HaRBInger 2024 – Innovation for Transformation’. The Hackathon invites participants to develop solutions using technology and innovative approaches under the following themes and problem statements.
The Apex Bank has been encouraging innovation in identified focus areas through its annual hackathons.Governor Das emphasised the importance of leveraging technology to combat financial fraud and widen the reach of financial services.
THEME 1: “Zero Financial Frauds”
THEME 2: “Being Divyang Friendly”
BUSINESS & ECONOMY
Quality Council of India celebrates World Accreditation Day in more than 20 cities across India
-> Quality Council of India (QCI) celebrated World Accreditation Day today across more than 20 cities in India. The event held in New Delhi, with the theme “Accreditation: Empowering Tomorrow and Shaping the Future,” was inaugurated by Secretary, DPIIT, Shri Rajesh Kumar Singh. The event was graced by the presence of Director, AIIMS, New Delhi, Dr. M. Srinivas; Chairperson, Quality Council of India, Shri Jaxay Shah along with several industry leaders, government officials, and company heads, who discussed the role of accreditation in shaping the quality of life in all spheres.
-> Both NABL and NABCB constitute the accreditation infrastructure in India and are signatories to the Multilateral Recognition Arrangements of the International Accreditation Forum (IAF) and the International Laboratory Accreditation Cooperation (ILAC). NABL has over 8000 accredited labs and NABCB has over 260 accredited CABs (Conformity Assessment Bodies).’
India Third-Largest Gold Buyer In May, After Switzerland And China: WGC
-> According to the World Gold Council‘s latest commentary, the month saw a resurgence in inflows, primarily driven by strong demand in Europe and Asia, despite minor outflows in North America and other regions.
-> India purchasing USD 86.5 million worth of gold in May, further supporting the positive momentum in the market.
-> By the end of May, global gold ETF holdings rose to 3,088 tonnes, boosting total assets under management (AUM) to USD 234 billion, reflecting a 2 per cent increase for the month.
SPORTS
Carlos Alcaraz, Iga Swiatek win French Open titles
-> Alcaraz made history when he claimed his maiden French Open title to become the youngest man to capture Grand Slams on all three surfaces — clay, grass and hard courts.
-> Carlos Alcaraz of Spain and Iga Swiatek of Poland won the 2024 French Open men’s and women’s Tennis Single titles, respectively. It was the first French Open singles title for Alcaraz and the fourth singles title for the world no.1 Iga Swiatek.
-> • Carlos Alcaraz defeated Alexander Zverev 6-3, 2-6, 5-7, 6-1, 6-2 on June 9 to win the French Open for his third Grand Slam title.
-> • At 21 years old, Alcaraz has played in three Grand Slam finals and won them all.
-> The 123rd edition of the French Open, also known as Roland Garros, was held at the Stade Roland Garros in Paris, France, from 26 May to 9 June 2024.
APPOINTMENTS
UN General Assembly Elects Philémon Yang of Cameroon President of Seventy-Ninth Session
-> Secretary-General Congratulates Philemon Yang of Cameroon on Being Elected General Assembly’s Next President
-> The current President of this seventy-eighth session — Dennis Francis of Trinidad and Tobago — is guiding the Assembly’s work with consummate diplomatic skill, stewardship and dedication over the present year.
-> Yang served as Cameroonian prime minister from 2009 to 2019, and since 2020, he has been serving as the Grand Chancellor of National Orders at the Presidency of the Republic. He served as Cameroon’s high commissioner to Canada between 1984 and 2004, and has held the position of Chairperson of the Panel of Eminent Africans of the African Union since February 2020. Following Uganda (2014) and Nigeria (2019), Cameroon becomes the 13th African country to have a representative appointed as president of the UN General Assembly.
Bisleri names Aditya Roy Kapur brand ambassador
-> Bisleri Limonata announced the appointment of Aditya Roy Kapur as its first brand ambassador. The ‘Limey Minty Cooler’ by Bisleri International also launched a new campaign, titled #DoubleTheChill.
-> Bisleri Limonata announced the appointment of Aditya Roy Kapur as its first brand ambassador. The ‘Limey Minty Cooler’ by Bisleri International also launched a new campaign, titled #DoubleTheChill.
-> The campaign features Aditya Roy Kapur and Chunky Pandey in a beach setup. Kapur, sporting a bright yellow shirt, is playfully teased by Pandey that a single yellow isn’t enough.
Sameer Bansal Appointed CEO of PNB MetLife
-> Private life insurer, PNB MetLife India Insurance appointed Sameer Bansal as the Managing Director (MD) and Chief Executive Officer (CEO) of the company effective from July 1, 2024. The appointment is subject to regulatory approvals.
-> Ashish Kumar Srivastava, Managing Director & CEO, PNB MetLife said, As the Head – Bancassurance, Sameer has contributed immensely to the business, which has resulted in PNB MetLife broadening its footprint across geographies. Backed by his rich experience, I am confident that in his new role as the Chief Distribution Officer, he will steer ahead the organization by further tapping the underinsured population.”
