14th-15th July, 2023

1. The 50th meeting of the Goods and Services Tax (GST) Councilhas recently been concluded in New Delhi.
2. Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry has recently notified two new Quality Control Orders (QCOs)on ‘Potable Water Bottles’ and ‘Flame-Producing Lighters’.
3. Oil and Natural Gas Corporation (ONGC), an energy Maharatna has become the first Central Public Sector Enterprise (CPSE) in India to get certified for Anti-Bribery Management System (ABMS) by an international accredited certification body, M/s InterCert USA.
4. Agriculture Secretary Manoj Ahuja has launched a new campaign for banks under Agri Infra Fund (AIF) titled BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation).
5. Ministry of Ports, Shipping, and Waterways of Indiahas inaugurated ‘SAGAR SAMPARK’, which marks a step towards digital transformation in the maritime industry.
6. India’s first regional AI news anchor “Lisa” has been introduced by Odisha TV, an Odia-based news station.
7. Tata Consultancy Services (TCS) has signed the contract for running and maintaining the government’s portal for public procurement Government e-Marketplace (GeM).
8. The Curtain Raiser of 7th edition of Asia’s premier digital technology, India Mobile Congress (IMC) exhibition will be held at Pragati Maidan, New Delhi from 27 October to 30 October 2023.
9. Indiawill host the ASEAN Countries Conference on Traditional Medicines on July 20, 2023, at Vigyan Bhawan in New Delhi.
10. Union Cabinet has approved amendments to the Mines and Minerals (Development and Regulation) Act, 1957 to allow the commercial mining of 6 critical minerals.
11. Ministry of Panchayati Raj has launched Action Taken Report (ATR) Module of AuditOnline for holistic audit of all panchayat accounts.
12. PM Narendra Modi has been conferred the Grand Cross of the Legion of Honour, France’s highest civilian and military honour.
13. Two-day Startup20 Shikhar summit hosted by Startup20 Engagement Group has concluded in Gurugram, Haryana.
14. Department of Telecommunications (DoT) is organising a ‘5G and Beyond Hackathon 2023’.
15. Ministry of Home Affairs has launched ‘Scheme for Expansion and Modernization of Fire Services in the state’ with an outlay of Rs 5000 crore.
16. IIT Kanpur has developed India’s first 100% Dimethyl Ether (DME) -fuelled tractor/ vehicle for on- and off-road applications.
17. Jammu and Kashmir has launched a Mobile-Dost-App in sync with the vision of Apka-Mobile-Hamara-Daftar, an initiative for mobile-based delivery of citizen-centric services in the Union Territory.
18. Goa GovernmentHas Signed 3 memorandum of Understandingwith Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Paytm and Institute of Chartered Accountants (ICAI).
19. Sarbananda Sonowal (Union Minister of Ports, Shipping & Waterways and Ayush) has laid the foundation stone of Inland Waterways Transport (IWT) Terminal in Assam.
20. INS Sunayna, an Indian naval ship, recently visited Seychelles as part of the multinational maritime security exercise known as Op Southern Readiness 2023.
21. India Navy is hosting the bilateral JIMEX (Japan-India Maritime Exercise) 2023 (7th edition) from 05 -10 July 2023 at Vishakhapatnam.
22. Ministry of Defence (MoD) and the Food Safety and Standards Authority of India (FSSAI) have signed a memorandum of understanding to promote millet foods among defence personnel.
23. India and Japan have signed Memorandum of Cooperation (MoC) for the development of the Integrated Mast United Combined Radio Antenna (NORA-50).
24. IIT Madras and Ministry of Education have signed Memorandum of Understanding (MoU) with Ministry of Education and Vocational Training (MoEVT) of Zanzibar (Tanzania) to establish a campus of IIT Madras in Zanzibar.
25. Directorate General of Civil Aviation (DGCA) has signed Memorandum of Understanding (MoU) with European Union Aviation Safety Agency (EASA) for unmanned aircraft systems & Innovative air mobility.
26. China has successfully launched world’s first methane-powered rocket.
27. 4 multilateral agencies have launched the ‘One Health Priority Research Agenda’ on Antimicrobial Resistance (AMR)
28. Times Higher Education (THE) Young University Rankings list for the year 2023 has been released.
29. World Investment Report 2023 has been released by United Nations Conference on Trade and Development.
30. Securities and Exchange Board of India (SEBI) has mandated certification of environmental, social and governance(ESG) rating services within 6 months.
31. HDFC Bank has become the first bank in the country to implement interoperability between United Payment Interface (UPI) and Central Bank Digital Currency (CBDC), with the launch UPI QR code.
32. Payments service provider PayU has announced the launch of a 45-day fintech accelerator program, ‘inFINity’ in collaboration with AWS India (Amazon Web Services) and venture capital firm Chiratae Ventures. 
33. Reserve Bank of India has cancelled the licence of two cooperative banks — Sri Sharada Mahila Co-operative Bank, Karnataka and Harihareshwar Sahakari Bank, Maharashtra due to inadequate capital and earning prospects.
34. Fincare Small Finance Bank has launched its multilingual campaign ‘The Great Indian FD Fest’.
35. Razorpay has launched its first international payment gateway for the Malaysian market with Curlec, known as ‘Curlec by Razorpay’
36. Bank of India has become the first bank to offer Mahila Samman Savings Certificate
37. Airtel Payments Bank has partnered with Park+ for FASTag-based smart parking solution at Varanasi’s Lal Bahadur Shastri Airport.
38. Propelld (Education Financing Startup) has received non-banking financial company (NBFC) licence from Reserve bank of India.
39. India’s services exports have increased by 7.7% on year in May 2023 according to provisional estimates of Reserve Bank of India
40. IDFC First Bank Ltd. has merged with IDFC Ltd. in 155:100 share exchange ratio.
41. Indian Banks’ Association (IBA) has constituted a 5-member working group for implementing recommendations of the Reserve Bank of India’s (RBI)committee on the “working of the Asset Reconstruction Companies (ARCs)”
42. Securities and Exchange Board of India (SEBI) has issued a consultation paper on ‘Consolidated Cyber Security and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities (RE)’
43. Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of theOlympic Council of Asia (OCA) from 2023-2027 at the 42nd Olympic Council of Asia (OCA) General Assembly.
44. Michele Bullock has been appointed as the first female head of Reserve Bank of Australia (RBA) for the next seven years.
45. B Neeraja Prabhakar has been appointed as the chairperson of the Oil Palm Research Advisory Committee (10 members) for a 3-year period.
46. Ajit Agarkar has been appointed as the chairman of the Senior Men’s Selection Committee by Board of Control for Cricket in India (BCCI).
47. Jens Stoltenberg’s (former PM of Norway) term as NATO’s Secretary General has been extended by 1
48. June 24- International Day for Women in Diplomacy
49. Union Minister of Youth Affairs and Sports has unveiled the trophy for the Hero Asian Champions Trophy 2023 at the Major Dhyanchand National Stadium, New Delhi.
50. India’s athletes are showing their best performances at the 25th Asian Athletics Championships 2023 being held in Thailand.
51. BCCI has announced the India men’s and women’s cricket squads for the 19th Asian Games to be held in China.
52. Indian men’s football team has won SAFF Championship 2023 after defeating Kuwait by 5-4 at Sree Kanteerava Stadium, Bengaluru.
53. PV Sindhuand Lakshya Sen have entered the pre-quarterfinals of the Canada Open 2023BWF Super 500 event being held in Calgary.
54. Nikki McCray-Penson, a renowned basketball player and coach has passed away.
55. Elena Geo Systems has launched a handheld NavIC-based navigator for precise navigation.

National News

1. The 50th meeting of the Goods and Services Tax (GST) Councilhas recently been concluded in New Delhi.
   • Major Highlights of the Meeting
     • A short video film titled ‘GST Council- 50 steps towards a journey’ was released to mark the 50th meeting of the council.
     • Changes in Tax Rates:The GST Council has made the following revisions to the tax rates:
       • Uncooked or Unfried Snack pellets and Fish Soluble Paste: The tax rate has been reduced from 18% to 5%.
       • Imitation Zari Threads or Yarn:The tax rate has been reduced from 12% to 5%.
       • Food and Beverages Consumed Inside Cinema Halls:The tax rate has been set at 5% without input tax credits, as opposed to the previous 18% on cinema services.
     • Tax Treatment of Online Gaming, Casinos, and Horse Racing:
       • Online gaming, casinos, and horse racing activities will now be taxed at the uniform rate of 28% on full face value.
         • The GST laws will be amended to explicitly include online gaming within the tax framework.
       • Exemption from GST:
         • GST Council has exempted cancer-related drugs, medicines for rare diseases, and food products for special medical purposes from 
       • Establishment of GST Appellate Tribunals:
         • The Council is considering proposals from states to establish 50 Benches of the GST Appellate Tribunals in the country.
         • The initial Benches will be set up in state capitals and locations where High Courts have benches.
       • Concerns Raised on GST Network and PMLA:
         • Some states have expressed criticism regarding the recent decision to bring the GST Network (GSTN) under the purview of the Prevention of Money Laundering Act (PMLA), administered by the Enforcement Directorate (ED).
         • Tamil Nadu has argued that this inclusion contradicts the interests of taxpayers and the objective of decriminalizing GST offenses.
         • The Revenue Secretary has assured the Council that it was in line with the requirements of the Financial Action Task Force.
           • It was clarified that the ED will neither receive nor provide information from the GSTN,and the notification is aimed at empowering tax authorities to combat tax evasion and money laundering.
     • RBL Bank and ICBC bank exempted from IGST
     • It has been decided to include RBL Bank and ICBC bank in the list of specified banks for which IGST exemption is available on imports of gold, silver or platinum and update the list of banks /entities eligible for such IGST exemption as per Annexure 4B (HBP) of Foreign Trade Policy 2023.
     • GST Exemption on Satellite Launch –
     • It has been decided that GST exemption on satellite launch services supplied by ISRO, Antrix Corporation Limited and New Space India Limited (NSIL) may be extended to such services supplied by organisations in private sector also to encourage start-ups.
     • ‘My Stamp’
     • Besides, to mark this occasion, the first set of a Special Cover and customised ‘My Stamp’ were also presented to Chairperson and Members of the Council by the Chief Post Master General, Delhi.

2. Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry has recently notified two new Quality Control Orders (QCOs)on ‘Potable Water Bottles’ and ‘Flame-Producing Lighters’.
   • The QCO for ‘Potable water bottles’ has mandated compulsory certification under the appropriateIS Standard for the production and import of potable water bottles made of copper, stainless steel, or aluminium.
   • The QCO for ‘Flame-Producing Lighter’ has mandated compulsory certification under IS Standards for ‘Safety Specification for Lighters’, and ‘Safety Specifications for Utility Lighters’, for the Flame lighters manufactured for domestic market or imported into India.
   • In collaboration with the Bureau of Indian Standards (BIS), DPIIT has initiated the development of 64 new QCOs, covering 317 product standards. The new orders will be made through consultation with key industry associations and stakeholders.
   • To ensure compliance with the quality standards set forth in the QCOs, the Bureau of Indian Standards (BIS)play a crucial role.
     • BIS is responsible for certifying products that meet the prescribed standards, both for domestic and international manufacturers.
     • With the QCOs, manufacturing, storing and sale of non-BIS certified products are prohibited as per the BIS Act, 2016.
     • Violation of the provision of the BIS Act can lead to a penalty of imprisonment of up to 2 years or with a fine of at least Rs 2 lakh for the first offence.
       • In case of second and subsequent offences, the fine will increase to Rs 5 lakh minimum and extend up to ten times the value of goods or articles.
         Source: BS
3. Oil and Natural Gas Corporation (ONGC), an energy Maharatna has become the first Central Public Sector Enterprise (CPSE) in India to get certified for Anti-Bribery Management System (ABMS) by an international accredited certification body, M/s InterCert USA.
   • ONGC is also the first organization in India that adopted the Integrity Pact (IP) by Transparency International in 2005.
     Source: ONGC
4. Agriculture Secretary Manoj Ahuja has launched a new campaign for banks under Agri Infra Fund (AIF) titled BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation).
   • The one month-long campaign (from 15th July 2023 to 15th August 2023) has been launched with a target to raise 7200 Crore in a month for banks under Agri Infra Fund.
     • The AIF is a financing facility launched in July 2020, for creation of post-harvest management infrastructure and community farm assets.
       • Under AIF, Rs 1 lakh crore is to be disbursed by financial year 2025-26 and the interest subvention and credit guarantee assistance will be given till the year 2032-33.
         Source: ET
5. Ministry of Ports, Shipping, and Waterways of Indiahas inaugurated ‘SAGAR SAMPARK’, which marks a step towards digital transformation in the maritime industry.
   • About SAGAR SAMPARK
     • It is an indigenous Differential Global Navigation Satellite System (DGNSS).
       • DGNSS is aterrestrial based enhancement system which corrects the errors and inaccuracies in the Global Navigation Satellite System (GNSS) allowing for more accurate positioning information.
       • The DGNSS will help mariners in safe navigation and will reduce the risk of collisions, groundings, and accidents in the port and harbour areas. This will lead to safe & efficient movement of vessels.
     • The latest DGNSS system will transmit corrections of GPS and Global Navigation Satellite System (GLONASS) and reduce errors caused by the atmospheric inferences, satellite clock drift and other factors.
     • The error correction accuracy has been improved from 5 to 10 meters to less than 5 meters for 100 Nautical Miles from Indian coastlines.
       Source: PIB
6. India’s first regional AI news anchor “Lisa” has been introduced by Odisha TV, an Odia-based news station.
   • Lisa can speak in multiple languages, including Odia, English, and others.
   • Previously, India Today Group has introduced their own AI news anchor named Sana.
     Source: ET
7. Tata Consultancy Services (TCS) has signed the contract for running and maintaining the government’s portal for public procurement Government e-Marketplace (GeM).
   • Previously in 2017, Intellect Design Arena and software company Infibeam were awarded the contract to design, develop and maintain the GeM portal.

8. The Curtain Raiser of 7th edition of Asia’s premier digital technology, India Mobile Congress (IMC) exhibition will be held at Pragati Maidan, New Delhi from 27 October to 30 October 2023.
   • The event is co-hosted by the Department of Telecommunications and Cellular Operators Association of India.
   • The theme of IMC 2023 is ‘Global Digital Innovation.’
   • IMC 2023 will include the key programmes that would put the spotlight on:
     • Launch of 6G
     • Advancement in 5G networks
     • Increasing use of AI in telecommunications and other domains
     • Edge computing, Industry 4.0
     • Emergence of India Stack.
   • IMC 2023 has also planned to introduce several B2G and B2B forums and industry round tables, university and student engagement, and global buyer forums.
   • This year IMC will introduce Aspire, a grand Start-Up event that will place significant emphasis on igniting the future of entrepreneurship growth among young innovators and industry delegates in the telecom and other digital domains.
   • First IMC was held in the year 2017.
     Source: PIB
9. Indiawill host the ASEAN Countries Conference on Traditional Medicines on July 20, 2023, at Vigyan Bhawan in New Delhi.
   • Ministry of Ayush will host the event with support from the Ministry of External Affairs, Indian Mission to ASEAN, and the ASEAN Secretariat.
   • A total of 75 participants will attend this one-day conference which will include international delegates from eightASEAN countries, with an additional two international delegates participating virtually.
   • The purpose of the conference is to facilitate brainstorming sessions and idea sharing on the topic of Traditional Medicines.
     Source: ANI
10. Union Cabinet has approved amendments to the Mines and Minerals (Development and Regulation) Act, 1957 to allow the commercial mining of 6 critical minerals.
    • The six critical minerals are: lithium, beryllium, niobium, tantalum, titanium and zirconium.
    • Till now, commercial mining of these critical minerals by private companies was Only government agencies were allowed in exploration and mining operations.
    • These minerals are required for manufacturing in several sectors, including electric vehicles, batteries, glassware, automotive components, defence machinery, telecommunication equipment, and medical technology.
    • All of India’s lithium requirement is imported from countries such as Chile, Russia, China, Ireland and Belgium.
      • Berrylium is imported from Russia, the UK, Netherlands, South Africa and China.
        Source: Livemint
11. Ministry of Panchayati Raj has launched Action Taken Report (ATR) Module of AuditOnline for holistic audit of all panchayat accounts.
    • To promote greater transparency and accountability in Panchayat audits, AuditOnline application was launched in 2020.
    • The ATR module aims to provide a more structured approach to the audit process, ensuring clarity on the actions taken in response to audit findings.
    • As per the operational guidelines of the 15th Finance Commission, states must ensure that all tiers of Panchayats, constituting 100% of rural local bodies have audited accounts for the 2021–22 period starting from the fiscal year 2023–24.
      Source: PIB
12. PM Narendra Modi has been conferred the Grand Cross of the Legion of Honour, France’s highest civilian and military honour.
    • The National Order of the Legion of Honour, or The Legion of Honour is the highest French decoration and is one of the most famous national honours in the world.
    • The honour normally recognises the contribution of the French people in the “service of the nation”.
      • Foreigners are honoured if they have rendered services (e.g., cultural or economic) to France or supported causes defended by France, and sometimes upon high dignitaries on a state visit to France.
      • The Order was established by Napoleon Bonaparte in 1802.
      • There is no material or financial benefit attached to the award.
        Source: IE
13. Two-day Startup20 Shikhar summit hosted by Startup20 Engagement Group has concluded in Gurugram, Haryana.
    • India has officially handed over the torch to Brazil (G20 presidency for 2024) and has committed to continue the Startup20 initiative in 2024.
    • Saudi Arabia has become the first country to extend support to the Startup20’s call to allocate an ambitious sum of $1 trillion per annum into the startup ecosystem by 2030.

14. Department of Telecommunications (DoT) is organising a ‘5G and Beyond Hackathon 2023’.
    • The contest is open to individuals, students, start-ups, and academic institutions in India.
    • A total of 100 winners will share a total prize pool of Rs 1 crore, and will be mentored from experts.
      Source: The Financial Express
15. Ministry of Home Affairs has launched ‘Scheme for Expansion and Modernization of Fire Services in the state’ with an outlay of Rs 5000 crore.
    • The amount will be allocated from Preparedness and Capacity Building funding window under the National Disaster Response Fund (NDRF).
    • A budget of Rs. 500 crore (out of the total outlay) has been set aside for incentivizing the states on the basis of their legal and infrastructure-based reforms.
    • The State Governments will have to contribute 25% (except for the North-Eastern and Himalayan states which shall contribute 10%) of total cost of such projects from their budgetary resources.
      Source- PIB
    
    
    
    
16. IIT Kanpur has developed India’s first 100% Dimethyl Ether (DME) -fuelled tractor/ vehicle for on- and off-road applications.
    • The research has been supported by the Science and Engineering Research Board (SERB), an attached institution of the Department of Science and Technology (DST).
    • DME is renewable, cost-effective and produces negligible soot and particulate emissions.
      Source- dst.gov.in

State News

1. Jammu and Kashmir has launched a Mobile-Dost-App in sync with the vision of Apka-Mobile-Hamara-Daftar, an initiative for mobile-based delivery of citizen-centric services in the Union Territory.
   • The app aims to empower the people of Jammu & Kashmir by providing a comprehensive platform to access all the Government to Citizen Services (G2C) directly from their mobile devices.
     Source: NewsonAir
2. Goa GovernmentHas Signed 3 memorandum of Understanding with Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Paytm and Institute of Chartered Accountants (ICAI).
   • With CGTMSE
     • For administering the Goa Credit Guarantee Scheme or Mukhyamantri Saral Udyog Sahayya Yojana in the state.
     • The state government in the budget 2023-24 has announced to introduce the scheme this year and assign Rs 10 crore to raise credit guarantee coverage under CGTMSE up to 95%.
       • Currently, for loans up to Rs 5 lakh, the guarantee cover available for micro enterprises under CGTMSE is up to 85% while for loans between Rs 5 lakh and Rs 5 crore, the cover is up to 75%.
     • With Paytm
       • To facilitate digital payments across various government departments by deploying Paytm devices – Electronic data capture (EDC) machines, PoS (Point of sale) terminals and QR (Quick response) code and promoting the Paytm app.
     • WITH ICAI
       • For training on technical cooperation in GST and to develop co-operation and collaboration in capacity building, research, assistance in policymaking, consulting and other activities.
         Source: FE and goagov.in
3. Sarbananda Sonowal (Union Minister of Ports, Shipping & Waterways and Ayush) has laid the foundation stone of Inland Waterways Transport (IWT) Terminal in Assam.
   • The terminal will be developed at Bogibeel in Dibrugarh, along the banks of Brahmaputra river (along National highway-2) in Assam.
   • The tourist-cum-cargo IWT terminal will be developed at a cost of ₹46.60 crores and is scheduled to be completed by February, 2024.
     Source: Economic Times

Defence News

1. INS Sunayna, an Indian naval ship, recently visited Seychelles as part of the multinational maritime security exercise known as Op Southern Readiness 2023.
   • The exercise conducted by the Combined Maritime Forces (CMF) aims to enhance cooperation and counter piracy while ensuring the safety and freedom of navigation in the region.
     Source: PIB
2. India Navy is hosting the bilateral JIMEX (Japan-India Maritime Exercise) 2023 (7th edition) from 05 -10 July 2023 at Vishakhapatnam.
   • The exercise conducted biennially between the Indian Navy and Japanese Maritime Self-Defense Force, began in 2012.
   • JIMEX 23 will witness the participation of-
     • INS Delhi (India’s first indigenously built Guided Missile Destroyer)
   • INS Kamorta (India’s indigenously built Anti-Submarine Warfare Corvette)
     • INS Shakti (India’s fleet tanker)
     • P8I (India’s maritime patrol aircraft) and Dornier
     • JS Samidare (Japan’s guided missile destroyer)
       Source: PIB

Memorandum of Understanding

1. Ministry of Defence (MoD) and the Food Safety and Standards Authority of India (FSSAI) have signed a memorandum of understanding to promote millet foods among defence personnel.
   • The MoU will pave the way for the introduction of millet-based menus in mess, canteens and other food outlets under the MoD.
   • The collaboration will ensure training of food handlers & chefs of mess, canteens of the Armed Forces and other food outlets on food safety and hygiene as per the Food Safety and Standards Act 2006.
   • A book ‘Healthy Recipes for Defence’, developed by FSSAI, which includes a range of millet-based dishes has also been released.
     Source: PIB
2. India and Japan have signed Memorandum of Cooperation (MoC) for the development of the Integrated Mast United Combined Radio Antenna (NORA-50).
   • The system is called UNICORN (UNIted COmbined Radio aNtenna) NORA-50 integration mast, a horn-shaped structure for tactical data link, TACAN (Tactical Air Navigation System), and communications.
   • The stealth naval antennas will improve communication, navigation, and stealth capabilities.
     Source: News Bharti
3. IIT Madras and Ministry of Education have signed Memorandum of Understanding (MoU) with Ministry of Education and Vocational Training (MoEVT) of Zanzibar (Tanzania) to establish a campus of IIT Madras in Zanzibar
   • This will be the first-ever establishment of an IIT campus outside of India.
   • The campus is scheduled to launch its programs in October 2023.

4. Directorate General of Civil Aviation (DGCA) has signed Memorandum of Understanding (MoU) with European Union Aviation Safety Agency (EASA) for unmanned aircraft systems & Innovative air mobility.
   • The MoU will result in harmonized standards & accelerated growth of Indian unmanned aviation sector

Source: PIB

International News

1. China has successfully launched world’s first methane-powered rocket.
   • Beijing-based firm LandSpace has launched Zhuque-2 carrier rocket from the Jiuquan Satellite Launch Centre in northwest China’s Inner Mongolia.
   • Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin are also developing methane-fueled space vehicles.
   • The methane-liquid oxygen rocket is less polluting, safer, and less expensive.
   • LandSpace has become the only the second private Chinese company to launch a liquid-propeller rocket.
     • Beijing Tianbing Technology successfully launched a kerosene-oxygen rocket in April 2023.
   • China has also announced plans to send two rockets to the moon by 2030.
     • One of the two planned rockets will carry the spacecraft that will land on the moon’s surface, while the other will transport the astronauts.
       Source: BS
2. 4 multilateral agencies have launched the ‘One Health Priority Research Agenda’ on Antimicrobial Resistance (AMR)
   • The organisations are-
   • Food and Agriculture Organization (FAO)
   • UN Environment Programme (UNEP)
   • World Health Organization (WHO)
   • World Organisation for Animal Health (WOAH).
   • The agenda aims to advocate for increased research and investment in antimicrobial resistance (AMR).
   • 5 key pillars and 3 themes have been identified to drive research –
   • Themes- Gender, vulnerable populations, and sustainability
   • Pillars-
   • Transmission
   • Integrated surveillance
   • Interventions
   • Behavioural insights and change
   • Economics and policy

Source: Down to Earth

Reports and Indices

1. Times Higher Education (THE) Young University Rankings list for the year 2023 has been released.
   About the Ranking 
   • Number of Universities Ranked– 605
   • Indicators- 13 (same as the flagship ‘THE World University Rankings’)
     • Reputation survey
     • Staff-to-student ratio
     • Doctorate-to-bachelor’s ratio
     • Doctorates-awarded-to-academic-staff ratio
     • Institutional income
     • Reputation survey
     • Research income
     • Research productivity
     • Research influence
     • Proportion of international students
     • Proportion of international staff
     • International collaboration
     • Knowledge transfer
   • THE Rankings lists the world’s best universities that are 50 years old or younger.
   • The universities of the world are judged across all their core missions – teaching, research, knowledge transfer and international outlook
   • Nanyang Technological University, Singapore has topped the list.

   India’s Performance-

   • 3 Universities have made it to top 100 rankings-
   • Mahatma Gandhi University, Kerala- 77th
   • JSS Academy of Higher Education and Research- 79th
   • Shoolini University of Biotechnology and Management Sciences- 91st
   • Lovely Professional University (LPU) is ranked in the top 251-300 bands among world’s universities created since 1973.
     Source: Official website
2. World Investment Report 2023 has been released by United Nations Conference on Trade and Development.
   Key Findings-  
   • The overall global FDI has declined by 12% to $1.3 trillion in 2022.
     • The overall FDI status in different regions is-

• During 2022, FDI inflows to India rose by 10% on an annual basis to $49 billion.
• The developing countries need renewable energy investments of about $1.7 trillion each year but attracted only $544 billion in clean energy FDI in 2022.

• SDG Investment Gap: The present SDG investment gap in developing countries has widened from $2.5 trillion in 2015 to an alarming $4 trillion.
  • Developing countries’ energy investment needs are estimated at $2.2 per year.
  • This refers to investment in energy generation, energy efficiency and low-carbon transition technologies and sources.
• Fossil fuel subsidies around the world has amounted to $1 trillion in 2022 which is 8 times the value of subsidies provided to renewable energy.
• Renewable Energy Investments: The developing countries need about $1.7 trillion each year in renewable energy investments. (Only $544 billion in 2022).
  • This refers to investment in power grids, transmission lines and storage.
• Sustainable Market Finance- The value of the sustainable finance market – which includes bonds, funds and voluntary carbon markets have grown by more than 10% to $5.8 trillion in  The sustainable bond issuance has grown fivefold over the past five years. The sustainable bond market was worth $3.3 trillion in 2022.
• Of 147 NDCs submitted by developing countries, 48 provide information on investment requirements and 40 discuss prospective sources of investment.
• The report has proposed a Global Action Compact for Investment in Sustainable Energy for All.It contains a set of guiding principles covering the 3 objectives of the energy transition – meeting climate goals, providing affordable energy for all and ensuring energy security.
  • It has put forward 6 action packages covering national and international investment policymaking; global partnerships; regional and South–South cooperation; financing mechanisms and tools; and sustainable finance markets.
    Source: Official report

Banking and Economy

1. Securities and Exchange Board of India (SEBI) has mandated certification of environmental, social and governance(ESG) rating services within 6 months.
   • The ESG rating service provider will have to be incorporated as a company under the Companies Act, 2013, and specify ESG rating activity, as the main object in its Memorandum of Association.
     • Foreign agencies that provide ESG rating services will also have to get SEBI certification.
     • Foreign ESG rating providers must be incorporated in the jurisdiction of a member of the Financial Action Task Force (FATF) and recognised under their respective law, having a minimum experience of 5 years in the business of providing ESG rating of securities or companies.
   • The certified rating agency will have to disclose its rating methodology for all ESG ratings on its website.
   • The promoter of the ESG rating agency shall maintain a minimum shareholding of 26% in the ESG rating provider for a minimum period of 5 years from the date of grant of registration.
     Source: Business Line
2. HDFC Bank has become the first bank in the country to implement interoperability between United Payment Interface (UPI) and Central Bank Digital Currency (CBDC), with the launch UPI QR code.
   • This feature will enable the customers to transact using the funds available in their CBDC (India’s sovereign digital currency) wallet through single UPI QR code. There will be no need to scan different QR codes at the same merchant.
   • The interoperable UPI QR code will allow HDFC Bank merchants to accept payments from their customers in the form of Digital Rupee currency.
     Source: BS

3. Payments service provider PayU has announced the launch of a 45-day fintech accelerator program, ‘inFINity’ in collaboration with AWS India (Amazon Web Services) and venture capital firm Chiratae Ventures. 
   • The program aims to support the growth of early stage fintech startups by providing access to mentorship from industry experts, curated resources, and AWS Activate credits.
   • To apply for the program, startups must be either bootstrapped or have raised funding of less than $5 million, seek to raise Seed to Series A funding and have a minimum viable product (MVP) already developed.
   • CEO of PayU India– Anirban Mukherjee
     Source: BS
4. Reserve Bank of India has cancelled the licence of two cooperative banks — Sri Sharada Mahila Co-operative Bank, Karnataka and Harihareshwar Sahakari Bank, Maharashtra due to inadequate capital and earning prospects.
   • The two banks’ ceases to carry on banking business, with effect from the close of business on July 11, 2023.
   • About 99.96% and 97.82% of the depositors of Harihareshwar Sahakari Bank and Sri Sharada Mahila Co-operative Bank respectively are entitled to receive the full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC).
     • On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits of up to Rs 5 lakh from DICGC.
       Source: ET
5. Fincare Small Finance Bank has launched its multilingual campaign ‘The Great Indian FD Fest’.
   • The campaign aims to raise awareness about the bank’s interest rate offering for all categories of customers.
   • The brand ambassador of the campaign is Viswanathan Anand. 
     Source: FE
   
   
   
   
6. Razorpay has launched its first international payment gateway for the Malaysian market with Curlec, known as ‘Curlec by Razorpay’.
   • Razorpay had acquired a majority stake in Curlec (Kuala Lumpur-based fintech) at a valuation of $20 million last year with an aim to fuel its global expansion plans.
   • The new Curlec payment gateway will serve more than 5,000 businesses with a target of RM10 billion ($2 billion) in annualized gross transaction value (GTV) by 2025.
     Source: Livemint
   
   
   
   
7. Bank of India has become the first bank to offer Mahila Samman Savings Certificate
   • Till now, only post offices were authorised to open accounts under the Mahila Samman Savings Certificate.
   • About the scheme
   • Interest rate-5% per annum, compounded quarterly.
   • Maturity- Two years from the date of opening.
   • Minimum investment-1000
   • Maximum investment- 2 lakh
   • Beneficiary- Individual girls or women, or a guardian of the minor girl.
   • Tax Benefits- Earnings under the scheme are taxable, No TDS (Tax Deducted at Source
   • Partial Withdrawals- Upto 40 per cent of the eligible balance after one year from the date of opening the account.
   • Account closure penalty- 2 per cent after six months from the date of account opening, and the applicable interest rate will be 5.5 per cent
   • Number of accounts of an individual- Multiple accounts are allowed with a gap of 3 months between each account.
   • Accounts under this scheme can be opened until March 31, 2025.

8. Airtel Payments Bank has partnered with Park+ for FASTag-based smart parking solution at Varanasi’s Lal Bahadur Shastri Airport.
   • The move will enable automatic fee payment at airport parking by deducting through the valid FASTag associated with the vehicle.

9. Propelld (Education Financing Startup) has received non-banking financial company (NBFC) licence from Reserve bank of India.
   • This will strengthen the Startup’s liabilities franchise and ability to offer longer-term product.
   • The company can now lend directly along with functioning as a loan service provider (LSP).
     Source: Economic Times
   
   
10. India’s services exports have increased by 7.7% on year in May 2023 according to provisional estimates of Reserve Bank of India
    • The exports are valued at $27.06 billion while imports have increased by 2% to $15.5 billion.
    • The final figures are usually published quarterly as part of the country’s overall balance-of-payments data.
      Source: Economic Times
11. IDFC First Bank Ltd. has merged with IDFC Ltd. in 155:100 share exchange ratio.
    • IDFC Limited, an infrastructure financing institution (DFI), was allowed by RBI in April 2014 to set up IDFC Bank Limited.
    • In 2018, the IDFC Bank and Capital First merged, and were renamed as IDFC First Bank.

12. Indian Banks’ Association (IBA) has constituted a 5-member working group for implementing recommendations of the Reserve Bank of India’s (RBI)committee on the “working of the Asset Reconstruction Companies (ARCs)”
    • The working group will undertake a thorough review of assignment agreements and trust deed templates.
    • The Secondary Loan Market Association (SLMA) will be tasked with standardisation of documents.

13. Securities and Exchange Board of India (SEBI) has issued a consultation paper on ‘Consolidated Cyber Security and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities (RE)’
    • The regulated entities are required to in place an up-to-date cyber crisis management plan.
    • The framework is based on parameters as defined by National Institute of Standards and Technology (agency of the United States Department of Commerce) — Identify, Protect, Detect, Respond, and Recover.
      Source: Economic Times

Appointments

1. Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of theOlympic Council of Asia (OCA) from 2023-2027 at the 42nd Olympic Council of Asia (OCA) General Assembly.
   Source: Official Website
2. Michele Bullock has been appointed as the first female head of Reserve Bank of Australia (RBA) for the next seven years.
   Source: Livemint
3. B Neeraja Prabhakar has been appointed as the chairperson of the Oil Palm Research Advisory Committee (10 members) for a 3-year period.
   • The Committee will guide the Indian Institute of Oil Palm Research (Andhra Pradesh) in formulating its research plans.
     Source: Business Line
4. Ajit Agarkar has been appointed as the chairman of the Senior Men’s Selection Committee by Board of Control for Cricket in India (BCCI).
   • He has played 26 Tests, 191 One day internationals, four T20s and was part of the 2007 ICC World T20-winning team.
   • Previous Chairman – Chetan Sharma
     Source: Indian Express
5. Jens Stoltenberg’s (former PM of Norway) term as NATO’s Secretary General has been extended by 1 year.
   • He has been holding this position since 2014. This is the 4th time his term has got extended.
     Source: The Times of India

Important Days

1. June 24- International Day for Women in Diplomacy
   • Theme- “Breaking Barriers, Shaping the Future: Women in Diplomacy for Sustainable Development”
     Source: News18

Sports

1. Union Minister of Youth Affairs and Sports has unveiled the trophy for the Hero Asian Champions Trophy 2023 at the Major Dhyanchand National Stadium, New Delhi.
   • ‘Pass the Ball Trophy Tour’ campaign which seeks to engage and inspire young athletes to dream of representing Team India in the future was also launched.
   • Hero Asian Champions Trophy, Chennai 2023 will begin from August 3rd, 2023
   • The Hero Asian Champions Trophy 2023 will see participation of six teams- India, Korea, Malaysia, Japan, Pakistan, and China.
     Source: ANI
2. India’s athletes are showing their best performances at the 25th Asian Athletics Championships 2023 being held in Thailand.
   • Parul Chaudhary has won gold in the women’s 3000m steeplechase.
   • Tajinderpal Singh Toor has won gold in the men’s shot put.
   • Jyothi Yarrajihas won gold in women’s 100m hurdles.
   • Ajay Kumar Saroj has won gold medal in the men’s 1500m race.
   • Abdulla Aboobacker has won gold in men’s triple jump event.
   • Shaili Singh has won a silver in the women’s long jump.
   • Aishwarya Kailash Mishra has won bronze in women’s 400m.
   • Tejaswin Shankar has won bronze in men’s decathlon.
     Source: HT and BS
3. BCCI has announced the India men’s and women’s cricket squads for the 19th Asian Games to be held in China.
   • Ruturaj Gaikwad will lead the men’s Indian squad in the Asian Games 2023.
   • Harmanpreet Kaur will lead the women’s Indian squad in the Asian Games 2023.
   • Cricket has been played only twice at the Asian Games. Both editions were not attended by the Indian cricket team.
   • The men’s and women’s cricket competition will take place in T20 format.
     Source: Livemint
4. Indian men’s football team has won SAFF Championship 2023 after defeating Kuwait by 5-4 at Sree Kanteerava Stadium, Bengaluru.
   • India has won the Championship for the 9th time.
   • Awards-
     • Fair Play Award- Nepal
     • Golden Ball- Sunil Chhetri (India)
     • Golden Boot- Sunil Chhetri (India)
     • Best goalkeeper of the competition- Anisur Rehman (Bangladesh)
     • Man of the Match (Final)- Gurpreet Singh Sandhu (India)
       Source: Sportstar
5. PV Sindhuand Lakshya Sen have entered the pre-quarterfinals of the Canada Open 2023 BWF Super 500 event being held in Calgary.
   • The 2023 Canada Open is the fourth Super 500 tournament of the 2023 BWF World Tour.
     Source: Times of India and ANI

Miscellaneous

1. Nikki McCray-Penson, a renowned basketball player and coach has passed away.
   • She was a member of the 1996 and 2000 US Olympic women’s basketball gold medal teams.
     Source: Sportstar
2. Elena Geo Systems has launched a handheld NavIC-based navigator for precise navigation.
   • The company has developed the NavIC chip, that uses IRNSS or Navigation for Indian Constellation (NavIC).
   • The navigator can utilise data from any mapping application or satellite source (IRNSS, GPS or GLONASS), unlike Google Maps, which entirely depends on GPS technology.

Source:  Economic Times

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