08th-09th June, 2023

1. Defence minister Rajnath Singh held wide-ranging talks with his American counterpart Lloyd Austin focusing on various key aspects of India-US defence ties and the regional security scenario including in the Indo-Pacific.
2. President Droupadi Murmu and Suriname counterpart Chandrikapersad Santokhi attended a cultural festival to mark 150 years of the arrival of Indians to Suriname.
3. Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal flagged off the first regular international cruise passenger vessel named mv Empress from Chennai Port that will connect three ports in Sri Lanka.
4. The Central Government has approved the continuation of the central sector ‘Exploration of Coal and Lignite scheme’ with an estimated expenditure of ₹2,980 crore.
5. Indian Space Research Organisation (ISRO) has announced to launch Chandrayaan-3 mission in mid-July this year.
6. The 3-day National Conference on Recent Advances in School (RASE-2023), also known as Shiksha Mahakumbh, was organized at Dr BR Ambedkar National Institute of Technology, NIT Jalandhar.
7. The National Exit Test (NExT) will be conducted from 2024 onwards, and the examination is likely to be organised by the All-India Institute of Medical Sciences (AIIMS).
8. President Droupadi Murmu and Serbian counterpart Aleksandar Vucic have agreed to increase the bilateral trade from the present 32 crore Euros to 1 billion euros by the end of the decade.
9. An international team of scientists, led by Prof. Abhijit Chakraborty, at the Exoplanet Research Group of the Physical Research Laboratory (PRL), Ahmedabad have discovered a new Jupiter size exoplanet.
10. The EU-India Global Gateway Conference took place in Shillong, Meghalaya.
11. National Mission for Mentoring (NMM) has been launched under the National Education Policy 2020 to creation of a large pool of outstanding professionals willing to provide mentoring to school teachers and ensure their continuous professional development.
12. Union Minister for Jal Shakti, Shri Gajendra Singh Shekhawat released the progress report of the Jal Jeevan Mission: Swachh Jal se Suraksha (SJSS) Campaign which was organised from 2nd October, 2022 to 31st March, 2023.
13. India is planning to join the Pharmaceutical Inspection Co-operation Scheme, an international regime that fosters cooperation between countries and regulatory authorities in good manufacturing practices (GMP) to improve the quality of their medical products.
14. The Ministry of Power and the Ministry of New and Renewable Energy have jointly launched the Mission on Advanced and High-Impact Research (MAHIR) to use emerging technologies in the power sector.
15. India’s first carbon neutral village is being developed in Bhiwandi Taluka of Thane district. As much as 121 tribal villages are being developed as model villages.
16. Kerala chief minister Pinarayi Vijayan inaugurated the state government’s Kerala Fibre Optic Network (KFON) project to provide free internet connections to 20 lakh below poverty line families.
17. Haryana has announced to launch a special campaign to raise awareness about door-to-door waste collection and segregation.
18. Oil and Natural Gas Corporation (ONGC) Limited is funding the construction of National Disaster Mitigation Centre and Yatri Niwas in Sidhra, Jammu.
19. Karnataka CM Siddaramaiah has announced to launch the ‘Gruha Jyoti’ free electricity scheme on August 1.
20. Uttar Pradesh government has launched the portal (//familyid.up.gov.in) for creation of Family ID under ‘One Family One Identity’ scheme to establish a comprehensive database of family units of the state and to connect at least one member of each family with employment.
21. Uttar Pradesh government has launched Nand Baba Milk Mission Scheme at the cost of Rs 1000 crore to increase milk production, on the one hand, and to give milk producers fair prices for their produce in villages itself.
22. Gujarat’s Vadnagar is being developed as ‘Prerna (inspirational): The Vernacular School’ and two students from each district of the country will be offered an opportunity to spend time there over the next year as part of a week-long study tour.
23. Mizoram government constituted a High-Level Committee on Internally Displaced Persons (IDPs) of Manipur in Mizoram, headed by Lalchamliana, minister for home and disaster management.
24. Union Cabinet has approved an increased minimum support price (MSP) of kharif crops for marketing season 2023-24.
25. China and Russia conducted joint air force patrols over the Sea of Japan and the East China Sea.
26. Defence Research and Development Organisation (DRDO) successfully flight-tested the Agni-Prime missile from Dr A P J Abdul Kalam Island off the coast of Odisha.
27. Indian Navy has developed Varunastra, a ship-launched anti-submarine heavy weight torpedo (HWT) indigenously.
28. NHPC Limited and Vidhyut Utpadan Company Limited, Nepal signed an MoU for the development of Phukot Karnali Hydro Electric Project (480MW) in Nepal.
29. IUCN World Conservation Congress will be held from 9-15 October 2025 in Abu Dhabi, United Arab Emirates.
30. Germany is hosting the Air Defender 23 drill – one of the biggest air deployment drills in NATO’s history – from June 12-23.
31. Indonesia launched a multilateral naval exercise named Komodo drills, with participation of countries including the United States, Britain, China, Japan, Russia and South Korea.
32. United Arab Emirates has withdrawn from the 38-nation Combined Maritime Forces (CMF), a US-led maritime coalition tasked with securing tense Gulf waterways that are vital to the global oil trade.
33. The S. Food and Drug Administration (FDA) approved Pfizer Inc’s respiratory syncytial virus (RSV) vaccine for older adults to fight against the common respiratory disease.
34. Iran and Afghanistan are locked in a long-standing dispute over the sharing of water from the Helmand River.
35. European Space Agency (ESA) had launched the Mars Express spacecraft in 2003.
36. Japan has announced to join United States and Australia in the $95 million undersea cable project to connect East-Micronesia Island Nations to improve networks in the Indo-Pacific region.
37. The 2023 edition of Tracking SDG 7: The Energy Progress Report has been released by International Energy Agency, International Renewable Energy Agency, UN Statistics Division, and the World Bank.
38. The Reserve Bank of India (RBI) has recently added the following entities/platforms/websites to the Alert List of unauthorised forex trading platforms.
39. BSE and NSE have launched an enhanced surveillance mechanism for companies that have a market cap of less than Rs 500 crore.
40. RBI Governor Shaktikanta Das launched a financial inclusion dashboard named ‘Antardrishti’ to provide the necessary knowledge to evaluate and track the development of financial inclusion by recording relevant data.
41. The National Bank for Financing Infrastructure Development (NaBFID) is expected to raise up to ₹10,000 crore through 10-year non-convertible debentures (NCDs).
42. The RBI has permitted international banking units (IBUs) in GIFT City in Gujarat to settle non-deliverable foreign exchange derivative contracts (NDDCs) in Indian rupee.
43. Bajaj Finserv has announced its entery into the highly competitive mutual funds business.
44. Union Cabinet has approved the third revival package for BSNL with a total outlay of Rs 89,047 crore.
45. Google Pay has introduced a new feature that enables users to set up UPI (Unified Payments Interface) using their ‘Aadhaar card number’ via National Payments Corporation of India (NPCI).
46. RBI has conducted its bi-monthly monetary policy committee’s meeting –
47. Reserve Bank Governor Shaktikanta Das has announced that cooperative banks will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers to resolve the issue of non-performing assets.
48. RBI has decided to allow issuance of RuPay Prepaid Forex cards by banks in India for use at ATMs, PoS machines and online merchants overseas.
49. The Securities and Exchange Board of India (Sebi) and the Securities Appellate Tribunal (SAT) were engaged in a dispute over Provision 23(E) of the Securities Contracts (Regulations) Act (SCRA) of 1956.
50. World Bank has released the “Global Economic Prospects 2023” report.
51. June 7 – World Food Safety Day; Theme – Food standards save lives
52. Former Prime Minister Jacinda Ardern received the Dame Grand Companionship, New Zealand’s second-highest honour, as part of the King Charles Birthday Honours.
53. Top Indian sprinter Amlan Borgohain bagged two gold medals, one each in the men’s 100 and 200-meter races at the Flanders Cup 2023 athletics meet, known as the International Antwerp Athletics Gala, in Merksem, Belgium.
54. Indian athletes bagged 19 medals at the 20th Asian U20 Athletics Championships in 2023 in Yecheon, Republic of Korea.
55. French Open 2023 (Roland Garros) – Men’s Singles: Novak Djokovic (Serbia); Women’s Singles: Iga Świątek (Poland)
56. Special Olympics Bharat organised a torch run and a national send-off ceremony at the Jawaharlal Nehru Stadium, New Delhi, for the Indian contingent that will be travelling for the Special Olympics World Summer Games 2023 in Berlin, Germany (June 17-25, 2023).
57. Cyclone ‘Biparjoy’ in Arabian Sea is expected to hit Gujarat and Pakistan.
58. Kafue National Park (KNP) is in Zambia.
59. Indian Army has generated a unique ecosystem for peaceful co-existence with wild elephants by aiming to mitigate the human-elephant conflict in the Amchang Wildlife Sanctuary in Guwahati.
60. Kakhovka Dam on Dnipro River in Ukraine has been destructed by Russia. It is being billed as an ‘ecocide’.
61. The Airports Authority of India (AAI) has published “Sustainable Green Airports Mission”

National News

1. Defence minister Rajnath Singh held wide-ranging talks with his American counterpart Lloyd Austin focusing on various key aspects of India-US defence ties and the regional security scenario including in the Indo-Pacific.
   • It is Secretary Austin’s second visit to India. His previous trip to India was in March, 2021.

2. President Droupadi Murmu and Suriname counterpart Chandrikapersad Santokhi attended a cultural festival to mark 150 years of the arrival of Indians to Suriname.
   • President Droupadi Murmu has been conferred the ‘Grand Order of the Chain of the Yellow Star’, Suriname’s highest civilian award.
     Source: TOI
3. Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal flagged off the first regular international cruise passenger vessel named mv Empress from Chennai Port that will connect three ports in Sri Lanka.
   • The first regular international cruise service will link ports including Hambantota and Trincomalee in Sri Lanka.
   • GAC Shipping (India) Pvt Ltd has launched the cruise service.
     Source: The Hindu
4. The Central Government has approved the continuation of the central sector ‘Exploration of Coal and Lignite scheme’ with an estimated expenditure of ₹2,980 crore.
   • The tenure for the extension is from 2021-22 to 2025-26 (co-terminus with the 15th Finance Commission cycle).
   • Under this scheme, exploration for coal and lignite is conducted in two broad stages:
   • Promotional (Regional) Exploration and,
   • Detailed Exploration in non-Coal India Limited blocks
   • The approval will provide an outlay of Rs 1,650 crore for promotional (Regional) exploration and Rs 1,330 crore for detailed drilling in non-CIL (Coal India Ltd-owned) areas.
     Source: ET
5. Indian Space Research Organisation (ISRO) has announced to launch Chandrayaan-3 mission in mid-July this year.
   • The announcement was made by ISRO chairman S Somanath on the sidelines of an International Conference on Spacecraft Mission Operations (SMOPS-2023) in Bengaluru, India.
   • Theme of the Conference – Emerging Technologies and Automation in Space Mission Operations and Ground Segment
     Source: IE and SMOPS

6. The 3-day National Conference on Recent Advances in School (RASE-2023), also known as Shiksha Mahakumbh, was organized at Dr BR Ambedkar National Institute of Technology, NIT Jalandhar.
   • Organisers – Sarvahitkari Shiksha Samiti, Punjab in collaboration with NIT Jalandhar
   • Theme – Integration of Bharatiya Traditional and Modern Education Systems for Sustainability
   • Union Minister of Information and Broadcasting and Youth Affairs and Sports Anurag Thakur addressed the conference.

7. The National Exit Test (NExT) will be conducted from 2024 onwards, and the examination is likely to be organised by the All-India Institute of Medical Sciences (AIIMS).
   • According to the National Medical Commission (NMC) Act of 2019, the NExT exam will serve as a licentiate exam for final year MBBS students to practice modern medicine and for merit-based admission to PG courses, and a screening exam for foreign medical graduates who wish to practice in India.
     Source: TOI
8. President Droupadi Murmu and Serbian counterpart Aleksandar Vucic have agreed to increase the bilateral trade from the present 32 crore Euros to 1 billion euros by the end of the decade.
   • As part of her visit, President Droupadi Murmu laid a wreath on the memorial of the unknown Warrior atop Mountain Avala in Belgrade, Serbia.
     Source: BS

9. An international team of scientists, led by Prof. Abhijit Chakraborty, at the Exoplanet Research Group of the Physical Research Laboratory (PRL), Ahmedabad have discovered a new Jupiter size exoplanet.
   • The exoplanet has been discovered by using PARAS spectrograph.
   • This discovery marks the third exoplanet discovery by India.
     Source: ISRO

10. The EU-India Global Gateway Conference took place in Shillong, Meghalaya.
    • Launched in December 2021, the Global Gateway Strategy aims to work towards the fulfilment of goals identified by the Paris Agreement on climate change and the 2030 Sustainable Development Goals.
    • The European Union (EU) Indo-Pacific strategy, as well as the connectivity partnerships with Japan (2020) and India (2021) are also important building blocks in the region.
    • The Global Gateway aims at boosting smart, green and secure links in digital, energy and transport and strengthen health, education and research systems across the world.
    • Global Gateway aims to mobilise up to €300 billion in investments between 2021-2027.
      Source: EU
11. National Mission for Mentoring (NMM) has been launched under the National Education Policy 2020 to creation of a large pool of outstanding professionals willing to provide mentoring to school teachers and ensure their continuous professional development.
    • National Council for Teacher Education (NCTE) launched NMM in Pilot mode in July 2022 in selected 30 Central Schools (15 KVs, 10 JNVs, 5 CBSE) across the country.
    • Chairperson of NCTE – Prof. Yogesh Singh
      Source: PIB
12. Union Minister for Jal Shakti, Shri Gajendra Singh Shekhawat released the progress report of the Jal Jeevan Mission: Swachh Jal se Suraksha (SJSS) Campaign which was organised from 2nd October, 2022 to 31st March, 2023.
    • The campaign aims to emphasise water quality monitoring and surveillance activities by states and UTs.
    • Under the campaign, several activities had been taken up including,
    • Testing of PWS sources in all villages for chemical parameters and bacteriological parameters (post monsoon);
    • Water quality testing at household level in villages;
    • Water quality testing in Schools and Anganwadi Centres; Remedial action taken for contaminated samples; and,
    • Training of women for water quality testing using FTK/ H2S vials at village level
    • The progress made under these activities was reported on WQMIS portal (Jal Jeevan Mission Water Quality Management Information System).
    • The states of Tamil Nadu, Andhra Pradesh, Karnataka and Madhya Pradesh emerged as the best performing states during the Campaign.
      Source: PIB

13. India is planning to join the Pharmaceutical Inspection Co-operation Scheme, an international regime that fosters cooperation between countries and regulatory authorities in good manufacturing practices (GMP) to improve the quality of their medical products.
    • The decision was triggered by the deaths of 66 children in Gambia that were linked to toxic Indian-made cough syrups.

14. The Ministry of Power and the Ministry of New and Renewable Energy have jointly launched the Mission on Advanced and High-Impact Research (MAHIR) to use emerging technologies in the power sector.
    • The scheme aims to facilitate indigenous research, development and demonstration of the latest and emerging technologies in the power sector.
    • Tenure – 2023-24 to 2027-28
    • MAHIR will work towards Industry-Academia -Government collaboration to create an ecosystem for innovation and translation of research in the power sector.
    • Areas Identified for Research –
    • Alternatives to Lithium-Ion storage batteries
    • Modifying electric cookers / pans to suit Indian cooking methods
    • Green hydrogen for mobility (High Efficiency Fuel Cell)
    • Carbon capture
    • Geo-thermal energy
    • Solid state refrigeration.
    • Nano technology for EV battery
    • Indigenous CRGO technology
    • The Mission will have a two-tier structure – a Technical Scoping Committee and an Apex Committee.
    • The Technical Scoping Committee, chaired by the Chairperson of Central Electricity Authority (incumbent: Ghanshyam Prasad), will identify ongoing and emerging research areas, provide research outlines, and conduct periodic monitoring of approved research projects.
    • The Apex Committee, chaired by the Union Minister for Power & New and Renewable Energy, to approve the research proposals and monitor the progress of research.
    • Central Power Research Institute (CPRI), Bengaluru will provide all necessary secretarial assistance to the Apex Committee and Technical Scoping Committee.
    • The Mission will also facilitate international collaboration for smooth exchange of know-how and Technology Transfer.
      Source: PIB

State News

1. India’s first carbon neutral village is being developed in Bhiwandi Taluka of Thane district. As much as 121 tribal villages are being developed as model villages.
   Source: News on Air
2. Kerala chief minister Pinarayi Vijayan inaugurated the state government’s Kerala Fibre Optic Network (KFON) project to provide free internet connections to 20 lakh below poverty line families.
   • This Rs 1,548-crore project has been in the works since November 2019, when the state government announced that internet connectivity would be treated as a basic right.
     Source: The Wire
3. Haryana has announced to launch a special campaign to raise awareness about door-to-door waste collection and segregation.
   • This is a part of government’s continuous efforts to transform every city in the state into a ‘Clean City-Safe City’.
   • The state is also implementing the Mukhyamantri Shehri Nikay Swamitva Yojana.
   • Haryana CM Manohar Lal Khattar launched the biennial Integrated Water Resources Action Plan (2023-25) to address twin challenges of water depletion and waterlogging.
     Source: News on Air and Daily Pioneer

4. Oil and Natural Gas Corporation (ONGC) Limited is funding the construction of National Disaster Mitigation Centre and Yatri Niwas in Sidhra, Jammu.
   Source: PIB
5. Karnataka CM Siddaramaiah has announced to launch the ‘Gruha Jyoti’ free electricity scheme on August 1.
   • Under the scheme, beneficiaries must enrol under the Seva Sindhu portal of the State Government.
   • The electricity company will record the average annual consumption of power in the building of the applicants in the last fiscal. If a consumer uses an average of 150 units of power per year, they will be eligible to get up to 165 units of electricity free.
   • If the annual average is above 200 units, then the entire amount of the bill must be paid by the consumer.
   • The Gruha Jyoti scheme is expected to cost the state exchequer around Rs 13000 crore.
   • Separately, the state will also launch the ‘Gruha Lakshmi’ scheme to provide Rs 2,000 assistance per month to women identified as heads of families on August 17 or 18.
   • Under this scheme, the tax payers and GST registered families are not eligible.
     Source: News on Air and ET
6. Uttar Pradesh government has launched the portal (//familyid.up.gov.in) for creation of Family ID under ‘One Family One Identity’ scheme to establish a comprehensive database of family units of the state and to connect at least one member of each family with employment.
   • The database collected will be helpful in better management of beneficiary schemes, timely targeting, transparent operation and providing 100% benefit of the scheme to the eligible persons, making the facilities more easily accessible to the public.
   • This portal has been developed to provide a 12-digit unique family ID to those families which do not possess any ration card.
   • Aadhaar based e-KYC facility is available on the Family ID portal.
     Source: ET
7. Uttar Pradesh government has launched Nand Baba Milk Mission Scheme at the cost of Rs 1000 crore to increase milk production, on the one hand, and to give milk producers fair prices for their produce in villages itself.
   • The entire country produces 221 million metric tonnes of milk, while UP alone produces 33 million metric tonnes.
   • On the other hand, 444 grams of milk is available per person per day in the country, while per person per day availability of milk is 392 grams in the state.
   • The participation of the organised and unorganised sectors in milk collection is 21% and 79% respectively.
     Source: ANI
8. Gujarat’s Vadnagar is being developed as ‘Prerna (inspirational): The Vernacular School’ and two students from each district of the country will be offered an opportunity to spend time there over the next year as part of a week-long study tour.
   • The Gujarat government is also developing an Archaeological Experimental Museum in Vadnagar.
     Source: HT
9. Mizoram government constituted a High-Level Committee on Internally Displaced Persons (IDPs) of Manipur in Mizoram, headed by Lalchamliana, minister for home and disaster management.
   Source: ET

Agriculture and Rural Development

1. Union Cabinet has approved an increased minimum support price (MSP) of kharif crops for marketing season 2023-24.
   • Paddy (common grade variety) – ₹2,183 per quintal for the 2023-24 crop year (July-June), increased by ₹143
   • Paddy (‘A’ grade variety) – ₹2,203 per quintal (increased by ₹163)
   • Moong – ₹8,558 per quintal for 2023-23 crop year (10.4% increment)
     Source: HT

Defence News

1. China and Russia conducted joint air force patrols over the Sea of Japan and the East China Sea.
   Source: The Hindu
2. Defence Research and Development Organisation (DRDO) successfully flight-tested the Agni-Prime missile from Dr A P J Abdul Kalam Island off the coast of Odisha.
   • Agni-P or Agni-Prime is a new generation nuclear-capable medium-range ballistic missile (MRBM).
   • It is considered a successor for Agni-I and Agni-II missiles in the operational service of the Strategic Forces Command (SFC). It incorporates technological advances from Agni-IV and Agni-V.
   • Agni-Prime has a strike range of 1,000 to 2,000 km.
   • India’s first intercontinental ballistic missile (ICBM) is Agni-V (with a range of over 5,000 km).
   • Agni-P will replace older generation missiles such as Prithvi-II (350 km), Agni-II (2,000 km), Agni-III (3,000 km) and Agni-4 (4,000 km) ballistic missiles.

3. Indian Navy has developed Varunastra, a ship-launched anti-submarine heavy weight torpedo (HWT) indigenously.
   • It was successfully test fired in the Arabian Sea.
   • Vizag-based Naval Science and Technological Laboratory (NSTL) of the DRDO designed the Varunastra missile system and Bharat Dynamics Ltd (BDL) is responsible for its production.
   • It is a heavyweight torpedo that can be launched from surface ships, submarines, and aircraft.
     Source: FE

Memorandum of Understanding

1. NHPC Limited and Vidhyut Utpadan Company Limited, Nepal signed an MoU for the development of Phukot Karnali Hydro Electric Project (480MW) in Nepal.
   • The project will use the flow from the Karnali River for power generation and the generated power will be fed into integrated power system of Nepal.
     Source: PIB

International News

1. IUCN World Conservation Congress will be held from 9-15 October 2025 in Abu Dhabi, United Arab Emirates.
   Source: IUCN
2. Germany is hosting the Air Defender 23 drill – one of the biggest air deployment drills in NATO’s history – from June 12-23.
   • Participants – 25 nations
     Source: Al Jazeera

3. Indonesia launched a multilateral naval exercise named Komodo drills, with participation of countries including the United States, Britain, China, Japan, Russia and South Korea.
   • Participating countries – 36
   • This year’s Komodo drills are the fourth such joint naval exercise Indonesia has hosted since the first one in 2014.
     Source: Reuters
4. United Arab Emirates has withdrawn from the 38-nation Combined Maritime Forces (CMF), a US-led maritime coalition tasked with securing tense Gulf waterways that are vital to the global oil trade.
   • The Bahrain-headquartered CMF was established in 2001, initially as a partnership between 12 nations.
     Source: ET

5. The S. Food and Drug Administration (FDA) approved Pfizer Inc’s respiratory syncytial virus (RSV) vaccine for older adults to fight against the common respiratory disease.
   Source: The Hindu
6. Iran and Afghanistan are locked in a long-standing dispute over the sharing of water from the Helmand River.
   • The dispute is over the Helmand River, a critical source of drinking water, irrigation and fishing for both countries.
   • The Afghan-Iranian Helmand River Water Treaty of 1973 provides for the water sharing proportions between these two countries.
     Source: The Print
7. European Space Agency (ESA) had launched the Mars Express spacecraft in 2003.
   • Now, the spacecraft has launched a stunning new image of Mars.
     Source: Space.com
8. Japan has announced to join United States and Australia in the $95 million undersea cable project to connect East-Micronesia Island Nations to improve networks in the Indo-Pacific region.
   • The approximately 2,250-kilometer (1,400-mile) undersea cable will connect the state of Kosrae in the Federated States of Micronesia, Tarawa in Kiribati and Nauru to the existing cable landing point located in Pohnpei in Micronesia.
     Source: ET

Reports and Indices

1. The 2023 edition of Tracking SDG 7: The Energy Progress Report has been released by International Energy Agency, International Renewable Energy Agency, UN Statistics Division, and the World Bank.

Source: Official report

Banking and Economy

1. The Reserve Bank of India (RBI) has recently added the following entities/platforms/websites to the Alert List of unauthorised forex trading platforms.
   • The entire list of unauthorised entities is here

2. BSE and NSE have launched an enhanced surveillance mechanism for companies that have a market cap of less than Rs 500 crore.
   • The Enhanced Surveillance Measure (ESM) will be effective from June 5.
   • The parameters for shortlisting the securities under the ESM framework include high-low price variation and close-to-close price variation.
   • The securities will be settled through a trade mechanism with a price band of 5% or 2% (if the scrip (security document) is already in the 2% band).
   • For securities in Stage II, the trading will be settled through a trade mechanism with a price band of 2%.
   • The security shall be part of the framework for a minimum period of 3 months.
   • However, in case a security is under Stage II of the framework, it shall be retained under Stage 2 for a minimum period of one month.
     Source: Business Standard

3. RBI Governor Shaktikanta Das launched a financial inclusion dashboard named ‘Antardrishti’ to provide the necessary knowledge to evaluate and track the development of financial inclusion by recording relevant data.
   • This tool will also make it possible to assess the degree of financial exclusion at a local level across the nation so that such places may be addressed.

4. The National Bank for Financing Infrastructure Development (NaBFID) is expected to raise up to ₹10,000 crore through 10-year non-convertible debentures (NCDs).
   • This will be the first time for NaBFID to raise funds from the capital markets.
   • NaBFID, which was set up in 2021, is planning to issuance with a base size of ₹5,000 crore and an additional subscription option worth ₹5,000 crore.
   • The bonds, rated AAA by CRISIL and ICRA will have an annual coupon pay-out.
   • Infrastructure developer L&T is looking to raise ₹3,500 crore through three sets of bond sales, which are likely to mature in 12 months, 15 months and 18 months.
   • The arranger for the L&T’s bonds is HDFC Bank.
   • The yield on the 12-month bonds may be set at 7.35% while that on the 15-month bond is seen at 7.36%. The yield on L&T’s 18-month bonds is seen at 7.37%.
     Source: ET

5. The RBI has permitted international banking units (IBUs) in GIFT City in Gujarat to settle non-deliverable foreign exchange derivative contracts (NDDCs) in Indian rupee.
   • Until now, the derivatives were cash-settled in foreign currency.
   • The Authorised Dealer (AD) Category-I banks operating IBUs can offer NDDCs involving the Indian rupee to resident non-retail users for hedging. Such transactions shall be cash settled in Indian rupee.
   • Banks in India, which operate International Financial Services Centre (IFSC) Banking Units (IBUs), were permitted to transact in rupee NDDCs with non-residents and with each other with effect from June 1, 2020.
     Source: TOI

6. Bajaj Finserv has announced its entery into the highly competitive mutual funds business.
   • Bajaj Finserv Mutual Fund – the group’s ninth entity – will compete with 40 others in the sector, which together manage as much as Rs 40 lakh crore of public money.
   • CEO of Bajaj Finserv MF – Ganesh Mohan
     Source: TOI

7. Union Cabinet has approved the third revival package for BSNL with a total outlay of Rs 89,047 crore.
   • The measures include allotment of 4G/5G spectrum for the company through equity infusion.
   • The authorised capital of BSNL will now be increased from Rs. 1,50,000 crores to Rs. 2,10,000 crores.
   • BSNL has signed an agreement with the Tata Consultancy Services (TCS) for the deployment of 4G network across India.
   • Previous revival packages –
   • First – 2019 of Rs 69,000 crore
   • Second – 2022 of Rs 1.64 lakh crore
   • As per govt data, these two packages together helped BSNL earn operating profits since FY 2021-22. Besides, the total debt of BSNL has come down from Rs 32,944 crore to Rs 22,289 crore.
     Source: ET
8. Google Pay has introduced a new feature that enables users to set up UPI (Unified Payments Interface) using their ‘Aadhaar card number’ via National Payments Corporation of India (NPCI).
   • This feature allows users to set up UPI PIN without the need for their debit card details.
   • Google has stated that it will not store Aadhaar numbers but will merely act as a facilitator to share them with NPCI.
   • The introduction of Aadhaar-based UPI is aimed at broadening the user base and facilitating digital payments.
     Source: HT
9. RBI has conducted its bi-monthly monetary policy committee’s meeting –
   • Projections for GDP growth and inflation –
   • India’s Gross Domestic Product (GDP) at 6.5% (Previous estimate – 6.5%).
   • Consumer Price Index (CPI) based inflation at 5.1% (Previous estimate – 5.2%).
   • Policy Rates –

• Priority Sector Lending (PSL) Targets for Primary (Urban) Cooperative Banks were revised in 2020, whereby a glide path was provided till March 31, 2024 to achieve the revised targets.
• To ease the implementation challenges faced by UCBs, the MPC has decided to extend the phase-in time by another 2 years, i.e., up to March 31, 2026.
• For those UCBs that have met the prescribed targets as on March 31, 2023 will be provided with suitable incentives.

Source: LiveMint

10. Reserve Bank Governor Shaktikanta Das has announced that cooperative banks will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers to resolve the issue of non-performing assets.
    • Till now, this facility was available only with scheduled commercial banks and select non-bank finance companies.
    • RBI has also decided to rationalise and simplify the licensing framework for authorized persons under Foreign Exchange Management Act (FEMA), 1999 to achieve operational efficiency in the delivery of FOREX facilities.
      Source: ET
11. RBI has decided to allow issuance of RuPay Prepaid Forex cards by banks in India for use at ATMs, PoS machines and online merchants overseas.
    • RBI has also allowed the issuance of RuPay Debit, Credit, and Prepaid Cards in foreign jurisdictions, which can be used internationally, including in India.
      Source: The Hindu
12. The Securities and Exchange Board of India (Sebi) and the Securities Appellate Tribunal (SAT) were engaged in a dispute over Provision 23(E) of the Securities Contracts (Regulations) Act (SCRA) of 1956.
    • The provision says any company violating listing conditions could attract a penalty of up to ₹25 crore.
    • Sebi has been taking the view that “listing conditions” specified in the Act mean a violation of listing rules. On the other hand, SAT has rejected this interpretation taken by Sebi and said the law only applies if listing conditions are not met.
      Source: LiveMint

GDP Forecasts

1. World Bank has released the “Global Economic Prospects 2023” report.

Source: Official report

Important Days

1. June 7 – World Food Safety Day; Theme – Food standards save lives
   • The “Manual of Methods of Analysis of Foods- Fish & Fish Products,” The “Manual of Methods of Analysis of Foods- Cereal and Cereal Products – 2nd edition,” and, The “Manual of Methods of Analysis of Foods- Beverages: Tea, Coffee and Chicory” were released by FSSAI.
   • FSSAI released the State Food Safety Index 2023 (5th edition). The index assesses the period of 2022-23.
   • Parameters of this index –
   • Human Resources and Institutional Data
   • Compliance
   • Food Testing Infrastructure
   • Training & Capacity Building
   • Consumer Empowerment
   • Improvement in SFSI Rank (new parameter)

• Categories of States –

• Rankings for 2022-23 –

• Top rankers in the previous editions –

Source: PIB, FAO and FSSAI report

Awards

1. Former Prime Minister Jacinda Ardern received the Dame Grand Companionship, New Zealand’s second-highest honour, as part of the King Charles Birthday Honours.
   • Reason – for her service leading the country through a mass shooting and coronavirus pandemic
   • Current PM of New Zealand – Chris Hipkins
     Source: News on Air and Al Jazeera

Sports

1. Top Indian sprinter Amlan Borgohain bagged two gold medals, one each in the men’s 100 and 200-meter races at the Flanders Cup 2023 athletics meet, known as the International Antwerp Athletics Gala, in Merksem, Belgium.
   • Sapna Kumari won silver medal in the women’s 100m hurdles. Belgium’s Amber Vanden Bosch won gold.
     Source: News on Air
2. Indian athletes bagged 19 medals at the 20th Asian U20 Athletics Championships in 2023 in Yecheon, Republic of Korea.
   • With 19 medals, including 6 golds, India is positioned at the 3rd place among 45 nations.
   • Japan topped the medals table with a total of 23 medals — 14 golds, 4 silvers and 5 bronze. The second place was sealed by China with a total of 19 medals — 11 golds, five silvers and three bronze.
   • For India, the 16-year-old Rezoana Mallick Heena was the most successful athlete in the competition. She won an individual gold medal in the women’s 400m race, completing the race in 53.32s. It was India’s first gold medal in this edition.
     Source: ANI

   
   
3. French Open 2023 (Roland Garros) – Men’s Singles: Novak Djokovic (Serbia); Women’s Singles: Iga Świątek (Poland)
   Source: Google News
4. Special Olympics Bharat organised a torch run and a national send-off ceremony at the Jawaharlal Nehru Stadium, New Delhi, for the Indian contingent that will be travelling for the Special Olympics World Summer Games 2023 in Berlin, Germany (June 17-25, 2023).
   • India will be sending a contingent comprising 198 Athletes and unified partners and 57 Coaches to participate across 16 Sports at the prestigious event.
   • This is the first time for Germany to host this event.

Source: The Print, Olympics and Olympics Bharat

Miscellaneous

1. Cyclone ‘Biparjoy’ in Arabian Sea is expected to hit Gujarat and Pakistan.
   Source: HT
2. Kafue National Park (KNP) is in Zambia.
   • Kafue is the oldest and largest of Zambia’s national parks.
   • The population of lion and leopards is increasing in this park, which is Africa’s third-largest national park.
   • Separately, Zambia has also launched its National Obstetric Fistula Strategic Plan 2022-2026.
     Source: Down to Earth and WHO
3. Indian Army has generated a unique ecosystem for peaceful co-existence with wild elephants by aiming to mitigate the human-elephant conflict in the Amchang Wildlife Sanctuary in Guwahati.
   Source: The Print
4. Kakhovka Dam on Dnipro River in Ukraine has been destructed by Russia. It is being billed as an ‘ecocide’.
   Source: IE
5. The Airports Authority of India (AAI) has published “Sustainable Green Airports Mission”
   • This booklet highlights the various initiatives taken up by AAI on sustainability and becoming carbon neutral, in line with the Panchamrit goals.
   • AAI has also published SUGAM booklet which highlights AAI’s commitment towards sustainable development and concern towards climate change.
   • SUGAM aims to promote transparency and knowledge sharing, encouraging other airports to learn from AAI’s experiences and contribute to the collective goal of achieving net zero emissions.

     Source: ANI

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