15th-16th June, 2023

1. As part of the Transporter-8 Mission by Elon Musk’s SpaceX, Azista BST Aerospace Pvt Ltd’s first satellite, ABA First Runner (AFR), was launched onboard the Falcon 9 rocket.
2. The first meeting of the Joint Committee of India-UAE Comprehensive Economic Partnership Agreement (CEPA).
3. Global DPI (Digital Public Infrastructure) Summit, the side event of 3rd meeting of G20 Digital Economy Working Group, was organized in Pune, Maharashtra.
4. India and Bangladesh have announced to undertake 5 development projects in the border sharing states – Assam, West Bengal, Mizoram, Meghalaya and Tripura.
5. Ministry of Electronics and Information Technology (MeitY) and Google have collaborated to amplify the Ministry’s “Stay Safe Online” campaign.
6. Infrastructure Finance Secretariat, Ministry of Finance has launched revamped PPPININDIA Portal and IIPDF Portal.
7. 10 women researchers from India and 3 from Germany were awarded under ‘Women Involvement in Science and Engineering Research’ (WISER) programme.
8. Union Minister of Education and Skill Development and Entrepreneurship Shri Dharmendra Pradhan flagged off Gabon’s first Agri- SEZ (special economic zone) project from New Delhi.
9. The Union Government is planning to design a Human Development Index (HDI) specifically for about 28 lakh people of the Particularly Vulnerable Tribal Groups (PVTGs).
10. Union Minister for Labour and Employment and Environment, Forest and Climate Change Shri Bhupender Yadav addressed the Plenary Session at the 111th International Labour Conference in Geneva.
11. Ministry of Coal has released data on coal stock availability of India on 13th June 2023.
12. Maharashtra government has entered into a tri-partite agreement with the National Stock Exchange and Nagpur-based Moneybee institute to increase financial literacy and prevent investors from losing money.
13. Himachal Pradesh CM Sukhvinder Singh Sukhu has inaugurated the online portal of the Himachal Pradesh Nurses Registration Council (HPNRC).
14. Assam Government signed two MoUs with North-East Frontier Railway (NFR) and Numaligarh Refinery Limited (NRL) for the construction of a second entry to Guwahati railway station and supply of high-speed diesel for Inland Water Transport (IWT) vessels respectively.
15. Central Government has banned the state govts from bidding for FCI’s-collected wheat and rice through Open Market Sale Scheme (OMSS).
16. India’s seafood exports have touched an all-time high in FY 2022-23, both in terms of volume and value.
17. The Department of Consumer Affairs had imposed stock limits on Tur and Urad by invoking the Essential Commodities Act, 1955 to prevent hoarding and speculation and to improve affordability to the consumers.
18. The indigenously designed and developed state-of-the-art Naval Airfield Integrated Security System (NAISS) and the Naval Anti-Drone System (NADS) have been inaugurated at INS Dega in Andhra Pradesh’s Visakhapatnam.
19. The 12th edition of joint military exercise “Ex Ekuverin” between the Indian Army and the Maldives National Defence Force has commenced at Chaubatia, Uttarakhand.
20. India and the United States are expected to sign a $3 billion deal for MQ-9 Reaper or Predator B drones.
21. Tata Steel Limited and Germany’s SMS group have signed an MoU to collaborate on decarbonisation of steel making process.
22. World Bank launched its first dedicated road safety project in South Asia by providing funding of USD 358 million to Bangladesh.
23. UN General Assembly has adopted a draft resolution introduced by India (along with 17 other countries) to establish a memorial wall in the UN Headquarters to honour fallen peacekeepers.
24. The Ministerial Meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) took place at Bangkok, Thailand.
25. Papua New Guinea and USA have entered into an agreement that will allow US military to access six key ports and airports, including Lombrum naval base on Manus Island and facilities in the capital, Port Moresby.
26. Walk Free Foundation has released the Global Slavery Index 2023.
27. UN Development Program has released the “Gender Social Norms Index 2023”.
28. International Energy Agency (IEA) has released the “Oil 2023: Analysis and forecast to 2028” report.
29. Punjab National Bank (PNB) has become the first public sector bank to introduce an IVR-based UPI solution – UPI 123PAY.
30. RING digital credit platform has partnered with National Payments Corporation of India (NPCI) to add its UPI plug-in into RING’s platform.
31. Amp Energy India (an energy transition platform) has secured a loan of up to $250 million (about ₹2,061 crore) from SMBC Bank of Japan, ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank).
32. South Indian Bank has introduced SIB SWIFTe, an innovative and customer-centric digital account opening platform that eliminates the hassle of paper-based documentation.
33. Karnataka Vikas Grameena Bank (KVGB) has launched a new deposit scheme ‘Vikas Ashadeep 400 days.’
34. Indian Overseas Bank (IOB) has launched ‘My Account My Name’ for savings bank account customers. Now, customers can choose any name as their account number with IOB.
35. SEBI allowed mutual funds (MFs) to invest in repo transactions in securities such as Commercial Papers and Certificate of Deposits.
36. Kotak Mahindra Life Insurance Company Ltd has signed an MOU with the Directorate General Resettlement (DGR), an Inter Service organization functioning directly under the Department of Ex-Servicemen Welfare (Ministry of Defense) to offer employment opportunities to Ex-Servicemen of the Defence Services.
37. Insurance Regulatory and Development Authority of India (IRDAI) has given its approval to SBI Mutual Fund to acquire up to 10% of total paid-up equity share capital of ICICI Lombard General Insurance Company through market purchase.
38. According to a report, microfinance loan portfolio increased by 22% to Rs 3.48 lakh crore during 2022-23.
39. SEBI introduced a regulatory framework for online investment platforms (known as Execution Only Platform) that facilitate investments in commission-free mutual fund (MF) schemes.
40. Fino Payments Bank has tied-up with Sequoia Capital-backed fintech Hubble to introduce India’s first spending account.
41. BSE sold a 54% stake in Central Depository Services (India) through a block deal to meet market regulator Sebi norms.
42. SEBI has revised its 2019 circular enabling parents or legal guardians to invest from their own bank accounts in mutual fund schemes for their children, starting June 15.
43. Max Life Insurance Company Ltd has launched Smart Wealth Advantage Growth Par Plan – a non-linked participating individual life insurance savings plan.
44. Ministry of Finance, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds (SGBs) in two tranches in 2023-24.
45. Shri Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs (CBIC) released the National Time Release Study (NTRS) 2023 report.
46. The Pension Fund Regulatory Development Authority of India has stated that Asset Under Management under pension schemes is expected to cross the landmark figure of Rs 10 lakh crore in the first half of this fiscal.
47. Hyundai Motor India Limited (HMIL) has appointed Hardik Pandya as its brand ambassador for Hyundai Exter.
48. Mining major NMDC’s Director (Finance) Amitava Mukherjee has got an extension of the additional charge as CMD of NMDC, for three months.
49. TransUnion CIBIL has appointed V Anantharaman as non-executive chairman.
50. IndiGo’s CEO Peter Elbers has been elected as the next chief of the International Air Transport Association (IATA)’s board of governors, w.e.f., June 2024.
51. Appointments Committee of the Cabinet has approved the appointment of –
52. Australia has appointed Philip Green as the country’s next high commissioner to
53. June 13 – International Albinism Awareness Day; Theme – Inclusion is Strength
54. June 14 – World Blood Donor Day; Theme – Give blood, give plasma, share life, share often
55. June 15 – World Elder Abuse Awareness Day; Focus – Addressing Gender-Based Violence in Older Age Policy, Law and Evidence-based Responses
56. June 15 – ASEAN Dengue Day; Theme – ASEAN’s Commitment to Fight Against Dengue
57. June 15 – Global Wind Day (also known as National Wind Day)
58. Forbes has released its Global 2000 list for 2023.
59. South Indian Bank has won the prestigious Digital CX Awards in Singapore.
60. Geological Survey of India Training Institute (GSITI), Hyderabad was accredited as “Athi Uttam” by the National Accreditation Board of Education and Training (NABET).
61. England all-rounder Moeen Ali has been recognised in the Queen’s Platinum Jubilee Honours list and awarded the Order of the British Empire (OBE) for his services to cricket.
62. The All-England-Lawn Tennis Club (AELTC) has increased the total prize money for Wimbledon to a record 44.7 million pounds ($56.52 million) for the Championships this year, a 11.2% increase on 2022.
63. Aditi Gopichand Swamy (aged 16) broke the Under-18 compound world record to top the women’s qualification round in the third stage of the Archery World Cup.
64. Long-distance runner Kartik Kumar made record at the National Inter-State Athletics Championships and achieved the Asian Games qualification mark for the 10,000m event at the Kalinga Stadium, Odisha.
65. “A Life Well Spent” book has been authored by Satish Chandra (an Indian Foreign Service officer).

National News

1. As part of the Transporter-8 Mission by Elon Musk’s SpaceX, Azista BST Aerospace Pvt Ltd’s first satellite, ABA First Runner (AFR), was launched onboard the Falcon 9 rocket.
   • The satellite was launched from Space Launch Complex 4E at Vandenberg Space Force Base, California.

2. The first meeting of the Joint Committee of India-UAE Comprehensive Economic Partnership Agreement (CEPA).
   • India and the UAE look to more than double non-oil bilateral trade to USD 100 billion by 2030.
   • At present, the non-oil bilateral trade stands at $48 billion.
   • The UAE is a major supplier of crude oil to India.
     Source: MoneyControl and CEPA
3. Global DPI (Digital Public Infrastructure) Summit, the side event of 3rd meeting of G20 Digital Economy Working Group, was organized in Pune, Maharashtra.
   • During the summit, India signed the MoU with four countries namely Armenia, Sierra Leone, Suriname and Antigua and Barbuda for sharing INDIA STACK i.e., successful digital solutions implemented at population scale.
   • Global DPI exhibition was also organized.
     Source: PIB
4. India and Bangladesh have announced to undertake 5 development projects in the border sharing states – Assam, West Bengal, Mizoram, Meghalaya and Tripura.
   • These five development projects are related to the construction of a bailey bridge, road repair and the strengthening of the retaining walls along the border in these states.
   • Border Security Force (BSF), India and the Border Guard Bangladesh (BGB) had organized their four-day biannual border talks conference (53rd edition) in Delhi.
     Source: ET

5. Ministry of Electronics and Information Technology (MeitY) and Google have collaborated to amplify the Ministry’s “Stay Safe Online” campaign.
   • Google will launch a series of videos featuring YouTube creators to educate users to responsibly share information online.
     Source: ET

6. Infrastructure Finance Secretariat, Ministry of Finance has launched revamped PPPININDIA Portal and IIPDF Portal.

7. 10 women researchers from India and 3 from Germany were awarded under ‘Women Involvement in Science and Engineering Research’ (WISER) programme.
   • Purpose – to promote women researchers in India/Germany to participate and collaborate in ongoing R&D and innovation projects.
   • They were awarded on 13th Foundation Day of IGSTC (Indo-German Science and Technology Centre).
     Source: PIB
8. Union Minister of Education and Skill Development and Entrepreneurship Shri Dharmendra Pradhan flagged off Gabon’s first Agri- SEZ (special economic zone) project from New Delhi.
   • The project will be implemented by AOM group, Gabon with Centurion University, Odisha as the technical and knowledge partner.
   • In the first phase of the program, 30 farmers and 20 B.Sc./M.Sc. Agri and B.Tech/M.Tech Engineering students from Gajapati district, which is an Aspirational district of Odisha, will travel together as agri-technical and technical consultants for developing Gabon’s agriculture SEZ.
     Source: PIB
9. The Union Government is planning to design a Human Development Index (HDI) specifically for about 28 lakh people of the Particularly Vulnerable Tribal Groups (PVTGs).
   • Finance Minister Nirmala Sitharaman had in this year’s Budget speech announced a ₹15,000-crore expenditure outlay for the Pradhan Mantri Primitive Vulnerable Tribal Groups (PM-PVTG) Development Mission, to be spent over the next 3 years.
   • The mission envisions connecting all 22,544 PVTG villages to basic government services like communications, electricity, public education, healthcare, water supply, and connectivity.
   • The Ministry of Tribal Affairs has started a mass testing drive for sickle cell disease, with a target of screening around 9 crore tribal people by 2025-26.
   • As of March 2023, the mission had achieved just 1% of its target of 1 crore people for 2022-23.
   • Target – “eliminating” SCD from India by 2047
   • The govt has already created the National Education Society for Tribal Students (NESTS) to centrally monitor their administration and recruit teachers in Eklavya Model Residential Schools (EMRS).
     Source: The Hindu

10. Union Minister for Labour and Employment and Environment, Forest and Climate Change Shri Bhupender Yadav addressed the Plenary Session at the 111th International Labour Conference in Geneva.
    Source: PIB
11. Ministry of Coal has released data on coal stock availability of India on 13th June 2023.

Source: PIB

State News

1. Maharashtra government has entered into a tri-partite agreement with the National Stock Exchange and Nagpur-based Moneybee institute to increase financial literacy and prevent investors from losing money.
   Source:  TOI
2. Himachal Pradesh CM Sukhvinder Singh Sukhu has inaugurated the online portal of the Himachal Pradesh Nurses Registration Council (HPNRC).
   Source: ANI
3. Assam Government signed two MoUs with North-East Frontier Railway (NFR) and Numaligarh Refinery Limited (NRL) for the construction of a second entry to Guwahati railway station and supply of high-speed diesel for Inland Water Transport (IWT) vessels
   Source: ANI

Agriculture and Rural Development

1. Central Government has banned the state govts from bidding for FCI’s-collected wheat and rice through Open Market Sale Scheme (OMSS).
   • Reason – to control prices of these food grains
   • Only northeast, hilly states and those facing law and order situations and natural calamities will be allowed to procure these grains.

2. India’s seafood exports have touched an all-time high in FY 2022-23, both in terms of volume and value.

3. The Department of Consumer Affairs had imposed stock limits on Tur and Urad by invoking the Essential Commodities Act, 1955 to prevent hoarding and speculation and to improve affordability to the consumers.
   • Under the order, stock limits have been prescribed for Tur and Urad until 31st October 2023 for all states and UTs.
   • Stock limits applicable to each of the pulse individually are 200 MT for wholesalers; 5 MT for retailers; 5 MT at each retail outlet and 200 MT at depot for big chain retailers; last 3 months of production or 25% of annual installed capacity, whichever is higher, for the millers.
     Source: PIB

Defence News

1. The indigenously designed and developed state-of-the-art Naval Airfield Integrated Security System (NAISS) and the Naval Anti-Drone System (NADS) have been inaugurated at INS Dega in Andhra Pradesh’s Visakhapatnam.
   • NAISS, developed by Bharat Electronics Limited, (BEL), is an AI-enabled multi-layered area security system.
   • NADS, also developed by BEL, is an anti-drone system with the capability to detect, track, and destroy hostile drones in the vicinity of the airfield.
     Source: TOI

2. The 12th edition of joint military exercise “Ex Ekuverin” between the Indian Army and the Maldives National Defence Force has commenced at Chaubatia, Uttarakhand.
   • Ekuverin meaning ‘Friends’ is a bilateral annual exercise conducted alternatively in India and Maldives.
     Source: PIB

3. India and the United States are expected to sign a $3 billion deal for MQ-9 Reaper or Predator B drones.
   • The Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, has already given the approval to procure armed Predator B Unmanned Aerial Vehicles (UAV).
   • India will buy 31 MQ-9 Reaper drones from American manufacturing firm General Atomics Aeronautical Systems (GA-ASI).
   • With an endurance of over 27 hours, MQ-9 Reaper can operate up to 50,000 feet.
   • It has two variants, SkyGuardian and SeaGuardian (for the Navy). The Indian Navy has been operating the MQ-9B Sea Guardian since 2020.
   • The Cabinet Committee on Security has also given approval for the manufacturing of General Electric’s F-414 jet engines in India in collaboration with the state-run Hindustan Aeronautics Limited (HAL).
   • The jet engines would be used in Made-in-India Tejas Mark 2 fighter jet—a single-engine combat aircraft.
   • The deal will include transfer of technology by US company to India.
     Source: IE and Wion

Memorandum of Understanding

1. Tata Steel Limited and Germany’s SMS group have signed an MoU to collaborate on decarbonisation of steel making process.
   • Both companies will undertake technical discussions and initiate actions for conducting Joint Industrial Demonstration of the EASyMelt technology, developed by SMS group.
   • The EASyMelt (electric-assisted syngas smelter) technology is a cutting-edge ironmaking solution, which is environmentally sustainable.
   • Tata Steel has announced to become Net Zero Carbon by 2045 and No Net loss in Biodiversity by 2030.
     Source: Tata Steel

International News

1. World Bank launched its first dedicated road safety project in South Asia by providing funding of USD 358 million to
   • The project seeks to improve road safety and reduce fatalities and injuries from road crashes in selected cities, high-risk highways, and district roads.

2. UN General Assembly has adopted a draft resolution introduced by India (along with 17 other countries) to establish a memorial wall in the UN Headquarters to honour fallen peacekeepers.
   • India’s Permanent Representative to the UN Ambassador Ruchira Kamboj introduced the draft resolution titled ‘Memorial wall for fallen United Nations peacekeepers’ in the UN General Assembly Hall.
   • The resolution was submitted by 18 countries including Bangladesh, Canada, China, Denmark, Egypt, France, India, Indonesia, Jordan, Nepal, Rwanda and the U.S.
     Source: The Hindu
   
   
3. The Ministerial Meeting of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) took place at Bangkok, Thailand.
   • Bangladesh has called for an early implementation of the BIMSTEC Free Trade Agreement (FTA).
   • The Meeting approved the draft text of the ‘Agreement on Maritime Transport Cooperation’ as well as the ‘BIMSTEC Bangkok Vision 2030’.
   • During the meeting, the inclusion of Blue Economy, Mountain Economy and Poverty Alleviation in the sectors was approved.

(February)

• India hosted the first meeting of the Governing Board of BIMSTEC Energy Centre (BEC) on 27th February, 2023 at Shangi-La Hotel. Bengaluru.
• Shri Ajay Tewari, Additional Secretary, Ministry of Power, was the chairperson of the Governing Board of the BEC.
• The BEC is housed in the premises of the Central Power Research Institute (CPRI), Bengaluru.
• Considering the current energy scenario in BIMSTEC region, the Meeting recommended to add the additional following areas under the specialized Wings of BEC: (a) Cyber Security, (b) Green Hydrogen (c) Energy Transition.

(March)

• 4th Meeting of the BIMSTEC Transport Connectivity Working Group (BTCWG) was convened virtually in Bangkok, Thailand, on 20 March 2023.
• Discussion on BIMSTEC Master Plan on Transport Connectivity was held and an Expert Group was set up for the plan.

(May)

• BIMSTEC Network of Policy Think Tanks: A Special Session of the BIMSTEC Network of Policy Think Tanks (BNPTT) was convened by Thailand’s BNPTT Member in the Network, the Indian Studies Center of the Chulalongkorn University of Thailand on 08-09 May 2023.
• The 1st Trade Facilitation Capacity Building Programme for BIMSTEC Countries was organized in New Delhi from 08-19 May 2023.
• Organizers – Ministry of External Affairs of India, and the Indian Council for Research on International Economic Relations (ICRIER), in partnership with the Asian Development Bank (ADB)
• The Secretary General of BIMSTEC, Tenzin Lekphell, participated in the 79th Session of the Economic and Social Commission for Asia and the Pacific held in Bangkok from 15-19 May 2023.

(June)

• BIMSTEC Day: It was the 26th BIMSTEC Day; the anniversary of the signing of the Bangkok Declaration which is the founding document of BIMSTEC, on 06 June 1997.
• BIMSTEC Business Conclave: It is being organized by the Indian Chamber of Commerce with the support of the Ministry of External Affairs, India on 13-15 June 2023 in Kolkata to commemorate 25 years of BIMSTEC.

(November)

• The 6th BIMSTEC Summit has been proposed to be held on 30th November in Thailand.

Note: Dates of the events are not important. They have been given to help you track the events and develop a broader understanding.

4. Papua New Guinea and USA have entered into an agreement that will allow US military to access six key ports and airports, including Lombrum naval base on Manus Island and facilities in the capital, Port Moresby.
   Source: The Guardian

Reports and Indices

1. Walk Free Foundation has released the Global Slavery Index 2023.
   • Parameters – Prevalence, Vulnerability, and Government Response
   • India –

• An estimated 50 million people were “living in situations of modern slavery” in 2021.
• According to the report, there are 11 million people who are exploited in India, 5 million in China, and 1.8 million in Russia.

Source: Walkfree and The Wire

2. UN Development Program has released the “Gender Social Norms Index 2023”.
   • Total – 191 countries
   • India has been put in the Medium Human Development category.

3. International Energy Agency (IEA) has released the “Oil 2023: Analysis and forecast to 2028”
   • Around three-quarters of the increase in demand of oil will come from Asia during 2022-28, with India surpassing China as the main source of growth by 2027.
   • India is the world’s third-largest energy-consuming nation.
   • India has a potential to emerge as the lowest green hydrogen producer by using the cheap electricity it produces from renewable sources to split water to produce green hydrogen.
   • India has the potential to become net zero in carbon emission before the 2070.

Source: ET, Official Report, and IEA

Banking and Economy

1. Punjab National Bank (PNB) has become the first public sector bank to introduce an IVR-based UPI solution – UPI 123PAY.
   • This step aligns with the Digital Payment Vision 2025 towards a cashless and cardless society.
   • IVR – Interactive voice response
   • IDFC First Bank, City Union Bank & NSDL Payments Bank have gone live on IVR payments.
     Source: LiveMint
2. RING digital credit platform has partnered with National Payments Corporation of India (NPCI) to add its UPI plug-in into RING’s platform.
   • With this collaboration, the RING app will become a one-stop integrated payment and credit solution where a customer can avail credit and pay merchants across the country.
   • NPCI had launched the UPI plug-in service in 2022.
     Source: ET and NPCI

3. Amp Energy India (an energy transition platform) has secured a loan of up to $250 million (about ₹2,061 crore) from SMBC Bank of Japan, ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank).
   Source: The Hindu
4. South Indian Bank has introduced SIB SWIFTe, an innovative and customer-centric digital account opening platform that eliminates the hassle of paper-based documentation.
   Source: HBL
5. Karnataka Vikas Grameena Bank (KVGB) has launched a new deposit scheme ‘Vikas Ashadeep 400 days.’
   • The scheme has a tenor of 400 days with interest rate of 7.5% for senior citizens and 7% for general public.
   • Under the scheme, a minimum of Rs 10,000 and maximum of Rs 2 crore can be deposited.
     Source: TOI
6. Indian Overseas Bank (IOB) has launched ‘My Account My Name’ for savings bank account customers. Now, customers can choose any name as their account number with IOB.
   • It is a first-of-its-kind in the banking sector.
   • Bank customers will have the freedom to choose his/her/any name as his/her account number and the same can be used for all transaction purposes.
   • The account name can be a combination of seven letters only or seven numbers only or seven alphanumeric — like AJIT007, PRADHAN or 2424707 and others.
     Source: TOI
7. SEBI allowed mutual funds (MFs) to invest in repo transactions in securities such as Commercial Papers and Certificate of Deposits.
   • As such, MFs will be permitted to participate only in “AA” and above rated corporate debt securities.
   • Purpose – to boost growth of the corporate bond market
   • This means that a fund house can keep their corporate bonds, CPs or CDs as collateral to avail a short-term loan at a prevailing market rate from another fund house.
     Source: ET and BS
8. Kotak Mahindra Life Insurance Company Ltd has signed an MOU with the Directorate General Resettlement (DGR), an Inter Service organization functioning directly under the Department of Ex-Servicemen Welfare (Ministry of Defense) to offer employment opportunities to Ex-Servicemen of the Defence Services.
   Source: Business World
9. Insurance Regulatory and Development Authority of India (IRDAI) has given its approval to SBI Mutual Fund to acquire up to 10% of total paid-up equity share capital of ICICI Lombard General Insurance Company through market purchase.
   • For the quarter ended March 2023, promoter ICICI Bank’s shareholding in the general insurance company stood at 48.02%. SBI Mutual Fund through various schemes held 4.62% in the insurance company.
     Source: ET

10. According to a report, microfinance loan portfolio increased by 22% to Rs 3.48 lakh crore during 2022-23.
    • Microfinance loan disbursals during FY 2022-23 improved by 23% to Rs 2.9 lakh crores compared to Rs 2,39,433 crore in the previous financial year.
    • Bihar is the largest state in terms of portfolio outstanding followed by Tamil Nadu and Uttar Pradesh.
      Source: MoneyControl
    SEBI introduced a regulatory framework for online investment platforms (known as Execution Only Platform) that facilitate investments in commission-free mutual fund (MF) schemes.
    • The regulation will come into force from September 2023.
    • The execution-only platform allows transactions in direct plans of mutual funds without the help of distributors – thereby, making the MF plan cheaper for the customers (no commission to be paid to distributors).
    • This regulation will bring clarity on obligations of such platforms while opening an avenue to monetise their business. It will also address investor concerns on associated risks and thereby, introduces grievance redressal mechanism.
      Source: BS

11. Fino Payments Bank has tied-up with Sequoia Capital-backed fintech Hubble to introduce India’s first spending account.
    • Now, customers can park their funds, spend (on categories such as food ordering, shopping, travel, entertainment etc.) and save up to 10% on all purchases made from the account.
      Source: HBL
12. BSE sold a 4.54% stake in Central Depository Services (India) through a block deal to meet market regulator Sebi norms.

14. SEBI has revised its 2019 circular enabling parents or legal guardians to invest from their own bank accounts in mutual fund schemes for their children, starting June 15.
    • The 2019 circular prescribed the uniform process to be followed across Asset Management Companies (AMCs) in respect of investments made in the name of a minor through a guardian.
    • As per the new rule, payment from the bank account of the minor, parent or legal guardian of the minor, or a joint account of the minor with parent or legal guardian will be accepted.
    • They will no longer need to open joint accounts or open the account of minor children for this purpose.
      Source: CNBC
15. Max Life Insurance Company Ltd has launched Smart Wealth Advantage Growth Par Plan – a non-linked participating individual life insurance savings plan.
    • The plan offers comprehensive financial protection for the family for key milestones in life, including retirement.
    • MD & CEO of Max Life – Prashant Tripathy
      Source: TOI
16. Ministry of Finance, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds (SGBs) in two tranches in 2023-24.
    • Two Tranches are –
    •  Series I: It will be issued in June 2023
    •  Series II: It will be issued in September 2023
    • The SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
      Source: PIB
17. Shri Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs (CBIC) released the National Time Release Study (NTRS) 2023 report.
    • The Time Release Study (TRS) is a performance measurement tool that assesses the cargo release time.
    • The cargo release time is defined as the time taken from arrival of the cargo at the Customs station to its out of charge for domestic clearance in case of imports and arrival of the cargo at the Customs station to the eventual departure of the carrier in case of exports.
    • NTRS 2023 presents port-category wise average release time for the current year, based on the sample period of January 1-7, 2023 (both days included), in comparison to 2021-22.
    • The findings of NTRS 2023 reaffirms the 3-fold ‘Path to promptness’, comprising –
    • Advance filing of import documents enabling pre-arrival processing,
    • Risk-based facilitation of cargo and,
    • Benefits of trusted client programme – Authorised Economic Operators
      Source: PIB
18. The Pension Fund Regulatory Development Authority of India has stated that Asset Under Management under pension schemes is expected to cross the landmark figure of Rs 10 lakh crore in the first half of this fiscal.
    • As per the latest figure, assets under management (AUM) — including National Pension Scheme (NPS), Atal Pension Yojana (APY) and NPS Lite — increased to Rs 9.58 lakh crore.
    • Out of Rs 9.58 lakh crore, NPS alone has a fund size of Rs 9.29 lakh crore while the remaining Rs 28,538 crore is the corpus of APY.
    • Last year, PFRDA crossed a landmark of more than 1 crore subscribers — to be exact 1.2 crore. And this year (2023-24), PFRDA is targeting about 1.3 crore.
    • So, as of now, the APY subscription base is almost 5.2 crore
      Source: ET

Appointments

1. Hyundai Motor India Limited (HMIL) has appointed Hardik Pandya as its brand ambassador for Hyundai Exter.
   Source: ET
2. Mining major NMDC’s Director (Finance) Amitava Mukherjee has got an extension of the additional charge as CMD of NMDC, for three months.
   Source: The Hindu
3. TransUnion CIBIL has appointed V Anantharaman as non-executive chairman.

4. IndiGo’s CEO Peter Elbers has been elected as the next chief of the International Air Transport Association (IATA)’s board of governors, w.e.f., June 2024.

5. Appointments Committee of the Cabinet has approved the appointment of –
   • Health Secretary – Sudhansh Pant (prior to this, he was the Shipping Secretary)
   • Shipping Secretary – T K Ramachandran
   • Aviation Secretary – Chanchal Kumar
   • Power Secretary – Pankaj Agrawal
   • Secretary of the Department of Water Resources, River Development, and Ganga Rejuvenation in the Jal Shakti Ministry – Debashree Mukherjee
   • Secretary General of the National Human Rights Commission – Bharat Lal
   • Secretary of the Department of Chemicals and Petrochemicals – Nivedita Shukla Verma
   • Secretary of the Department of Fertilizers – Rajat Kumar Mishra
   • Secretary of the Ministry of Micro, Small, and Medium Enterprises – Subhas Chandra Lal Das
   • Secretary of the National Commission for Scheduled Castes (a body under Ministry of Social Justice) – Renu Gonela Pillay
     Source: The Print
6. Australia has appointed Philip Green as the country’s next high commissioner to
   Source: HT

Important Days

1. June 13 – International Albinism Awareness Day; Theme – Inclusion is Strength
   Source: UN
2. June 14 – World Blood Donor Day; Theme – Give blood, give plasma, share life, share often
   Source: UN
3. June 15 – World Elder Abuse Awareness Day; Focus – Addressing Gender-Based Violence in Older Age Policy, Law and Evidence-based Responses
   Source: UN
4. June 15 – ASEAN Dengue Day; Theme – ASEAN’s Commitment to Fight Against Dengue
   • 6th Asia Dengue Summit was organized from 15th–16th June 2023 on the theme of “Road Map to Zero Dengue Death” in Bangkok, Thailand.

5. June 15 – Global Wind Day (also known as National Wind Day)
   • Global Wind Day celebration in India was held on the theme of “Pawan – Urja: Powering the Future of India”.
   • Rajasthan was felicitated for achieving the highest wind capacity addition, Gujarat for achieving the highest wind capacity addition through open access and Tamil Nadu for initiating repowering of wind turbines.
     Source: India Today and PIB

Awards

1. Forbes has released its Global 2000 list for 2023.
   • The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value.
   • Top – JP Morgan, followed by Saudi Aramco, and ICBC-China
   • India – Reliance Industries at 45th rank (an increased by 8 ranks)
   • SBI – 77th rank
   • HDFC Bank – 128th rank
   • ICICI Bank – 163rd rank
   • ONGC – 226th rank
     Source: Forbes and Daily Pioneer
2. South Indian Bank has won the prestigious Digital CX Awards in Singapore.
   • The Awards, instituted by Singapore-based ‘The Digital Banker’, recognize excellence in providing exceptional digital experiences to customers.
   • The Bank has won the award under the SME loans category for its remarkable performance in providing GST-based loans through a Technology platform.
     Source: BS

   
   
3. Geological Survey of India Training Institute (GSITI), Hyderabad was accredited as “Athi Uttam” by the National Accreditation Board of Education and Training (NABET).
   • The team from Capacity Building Commission (CBC), NABET and Quality Control of India conducted the on-site assessment and awarded the Certificate of Accreditation with the grading of Athi Uttam.

4. England all-rounder Moeen Ali has been recognised in the Queen’s Platinum Jubilee Honours list and awarded the Order of the British Empire (OBE) for his services to cricket.
   Source: India Today

Sports

1. The All-England-Lawn Tennis Club (AELTC) has increased the total prize money for Wimbledon to a record 7 million pounds ($56.52 million) for the Championships this year, a 11.2% increase on 2022.
   Source: Reuters
2. Aditi Gopichand Swamy (aged 16) broke the Under-18 compound world record to top the women’s qualification round in the third stage of the Archery World Cup.
   Source: BS
3. Long-distance runner Kartik Kumar made record at the National Inter-State Athletics Championships and achieved the Asian Games qualification mark for the 10,000m event at the Kalinga Stadium, Odisha.
   Source: Sportstar

Miscellaneous

1. “A Life Well Spent” book has been authored by Satish Chandra (an Indian Foreign Service officer).
   Source: HBL

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