27th June, 2024
ICC, EU, Denmark, IRCTC, IRDAI, Bisleri, SBI, Flipkart, NCAER, Hopex, SpaceX, Drug day, Passport Seva Divas, World Refrigeration Day (WRD) , Bharat Lal, NATO
- The International Criminal Court (ICC) has issued an arrest warrant for former Russian Defense Minister Sergei Shoigu and the Chief of the General Staff Valery Gerasimov for alleged war crimes in the Russia-Ukraine war.
- The European Union (EU) is supporting a group of 112 cities of EU in their ambitious goal to eliminate net greenhouse gas emissions by 2030.
- Denmark has become the first country in the world to introduce a tax on livestock farmers
- Royal Sundaram General Insurance (RSGI), a Property & Casualty insurer based company in India, has partnered with the Indian Railway Catering and Tourism Corporation (IRCTC).
- Muthoot Microfin, a leading microfinance institution in India, has secured a corporate agent license from the Insurance Regulatory and Development Authority of India (IRDAI) that would enable it to offer tailored insurance plans to its customer base.
- Bisleri, a packaged water maker, is proposing a water credit system for the beverage industry, similar to carbon credits.
- State Bank of India (SBI) on Wednesday raised Rs. 10,000 crore through 15-year infrastructure bonds to fund projects in sectors like power and roads.
- Flipkart, the popular Indian e-commerce giant, has rolled out the beta version of its own payments app called Super.money as part of its fintech ambitions.
- According to the National Council of Applied Economic Research (NCAER), India’s gross domestic product (GDP) growth during the fiscal year 2024-25 (FY25) may exceed 7% and even come close to 7.5%.
- Exercise HOPEX is a joint military exercise between Indian Air Force (IAF) and Egyptian Air Force.
- SpaceX recently launched the Geostationary Operational Environmental Satellites-U (GOES-U) satellite using their powerful Falcon Heavy rocket.
- June 26th, marks the annual observance of the International Day against Drug Abuse and Illicit Trafficking, also known as World Drug Day.
- Passport Seva Divas is annually observed across India on 24 June.
- World Refrigeration Day (WRD)
- Bharat Lal, retired Indian Forest Services (IFS) officer, has been granted a one-year extension as secretary-general of the National Human Rights Commission (NHRC)-India
- Mark Rutte, the outgoing Prime Minister of Netherlands, has been chosen as the next Secretary-General of North Atlantic Treaty Organization (NATO).
Table of Content
International News
- International Criminal Court (ICC) issued arrest warrants
- What: The International Criminal Court (ICC) has issued an arrest warrant for former Russian Defense Minister Sergei Shoigu and the Chief of the General Staff Valery Gerasimov for alleged war crimes in the Russia-Ukraine war.
- Source: CNN
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About ICC - It is world’s first permanent and treaty based organization to help end impunity for the perpetrators of the most serious crimes of concern to the international community. - It tries individuals over four main areas - genocide, war crimes, crimes against humanity, and crime of aggression. - Founding Treaty: Rome Statute. - Headquarters: The Hague, Netherlands. - Members: 124 countries are States Parties. (India is not a member). - It is an independent international organization, and is not part of UN system |
- EU backs €650 bn plan to reach net zero by 2030
- What: The European Union (EU) is supporting a group of 112 cities of EU in their ambitious goal to eliminate net greenhouse gas emissions by 2030.
- To achieve this, these cities will require a combined €650 billion in investments.
- This initiative is part of the EU’s “100 Climate Neutral and Smart Cities’ Mission”.
- Around 377 cities applied to join the program.
- 100 cities from the EU and 12 from associated countries were chosen.
- The developing of a climate plan will be done with support from the EU and nonprofit advisory firm Bankers without Boundaries.
Source: Reuters
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About EU - The European Union (EU) is a political and economic alliance of 27 countries. - Nineteen of the countries share the euro as their official currency. - The EU plays a crucial role in shaping policies related to economics, security, and social issues across its member states |
- Denmark to introduce carbon tax on cows and pigs
- What: Denmark has become the first country in the world to introduce a tax on livestock farmers
- Why: Methane, a gas, which is emitted primarily by cows, sheep, and pigs, is a potent greenhouse gas.
- This move will help in reducing the greenhouse gas.
- Although carbon dioxide typically gets more attention for its role in climate change, methane traps about 87 times more heat on a 20-year timescale
- Tell me more:
- The tax will be levied starting from the year 2030 and will be increased gradually till the year 2035.
- Denmark’s goal is to reduce its greenhouse gas emissions by 70% from 1990 levels by 2030.
- By taxing livestock farmers based on their emissions, Denmark aims to take a significant step toward becoming climate neutral by 2045
Source: Indian Express
- By taxing livestock farmers based on their emissions, Denmark aims to take a significant step toward becoming climate neutral by 2045
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- Globally as per UNEP, Livestock account for approximately 32% of human-caused methane emissions globally - New Zealand had also passed a similar law to take effect in 2025, but it was later removed due to criticism from farmers and a change of government. |
Banking and Economy
- Royal Sundaram integrates with IRCTC, through the INSILLION Insurtech platform
- What: Royal Sundaram General Insurance (RSGI), a Property & Casualty insurer based company in India, has partnered with the Indian Railway Catering and Tourism Corporation (IRCTC).
- Why: To offer embedded Group Personal Accident (GPA) policies alongside e-ticket purchases.
Source: The Print
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About IRCTC - IRCTC, a public sector enterprise under the Ministry of Railways in India, it is the e-ticketing and catering arm of the Indian Railways. - It was set up by the Ministry of Railways in 1999 to improve the quality of catering services on trains and to promote domestic and international tourism through railways. |
- Muthoot Microfin receives Corporate Agent License from IRDAI
- What: Muthoot Microfin, a leading microfinance institution in India, has secured a corporate agent license from the Insurance Regulatory and Development Authority of India (IRDAI) that would enable it to offer tailored insurance plans to its customer base.
- “Corporate Agent” means any entity or person specified in Regulation 2 (b) of the IRDAI (Registration of Corporate Agents) Regulations, 2015 holding a valid certificate of registration issued by the Authority, for solicitation and servicing of insurance business for any of the specified category of life, general and health.
Source: ET
- “Corporate Agent” means any entity or person specified in Regulation 2 (b) of the IRDAI (Registration of Corporate Agents) Regulations, 2015 holding a valid certificate of registration issued by the Authority, for solicitation and servicing of insurance business for any of the specified category of life, general and health.
- What: Muthoot Microfin, a leading microfinance institution in India, has secured a corporate agent license from the Insurance Regulatory and Development Authority of India (IRDAI) that would enable it to offer tailored insurance plans to its customer base.
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About IRDAI - The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous and statutory body. - It was established in the year 1999. - It is responsible for managing and regulating the insurance and reinsurance industry in India. - It was established by an act of parliament, specifies the composition of the Authority under section 4 of the IRDAI Act of 1999. |
- Bisleri proposes water credit system for beverage industry
- What: Bisleri, a packaged water maker, is proposing a water credit system for the beverage industry, similar to carbon credits.
- Why: The goal is to make beverage manufacturers more accountable for their water usage.
- Tell me more:
- To develop the framework, Bisleri has partnered with the TERI School of Advanced Studies.
- The findings of the study will be shared with central government to develop a framework for water credits for beverages industry.
- Significance of Water Credits
- Addressing water stress and help in achieving SDG6 (Clean Water and Sanitation).
- In India, 11 out 15 major river basins will be water-stressed by 2025.
Source: Live Mint
- To develop the framework, Bisleri has partnered with the TERI School of Advanced Studies.
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About Water credits Baseline Measurement: A baseline is established for water usage in a particular area or industry. This baseline represents the typical water consumption without any conservation efforts. Water Savings: When a company or organization reduces its water usage below this baseline, it earns water credits. These credits quantify the amount of water saved through efficient practices, such as recycling, rainwater harvesting, or reducing leaks. Trading and Incentives: Just like carbon credits, water credits can be traded or sold. Companies that exceed their baseline can sell their excess credits to those struggling to meet theirs. This creates an incentive for water conservation. |
- SBI raises Rs. 10,000 crore via 15-year infra bonds
- What: State Bank of India (SBI) on Wednesday raised Rs. 10,000 crore through 15-year infrastructure bonds to fund projects in sectors like power and roads.
- Tell me more:
- Coupon rate: 7.36 per cent.
- Coupon rate is the rate of interest paid by bond issuers on the bond’s face value.
- With the current issuance, the total outstanding long term bonds issued by SBI is at Rs.49,718 crore.
- Coupon rate: 7.36 per cent.
Source: Live Mint
- Flipkart launches Super.Money to re-enter India fintech space
- What: Flipkart, the popular Indian e-commerce giant, has rolled out the beta version of its own payments app called Super.money as part of its fintech ambitions.
- A beta version is typically one which is used for testing by a limited user group, before being opened for the general public.
- Tell me more:
- The platform will offer payments, credit, deposits and other digital financial services.
Source: Economic Times
- The platform will offer payments, credit, deposits and other digital financial services.
- What: Flipkart, the popular Indian e-commerce giant, has rolled out the beta version of its own payments app called Super.money as part of its fintech ambitions.
GDP Forecasts
- FY25 GDP growth likely to be close to 7.5%: NCAER
- What: According to the National Council of Applied Economic Research (NCAER), India’s gross domestic product (GDP) growth during the fiscal year 2024-25 (FY25) may exceed 7% and even come close to 7.5%.
- What: According to the National Council of Applied Economic Research (NCAER), India’s gross domestic product (GDP) growth during the fiscal year 2024-25 (FY25) may exceed 7% and even come close to 7.5%.
Source: Financial Express
Defence News
- Exercise HOPEX
- What: Exercise HOPEX is a joint military exercise between Indian Air Force (IAF) and Egyptian Air Force.
- Aim: To promote bilateral and regional cooperation.
- IAF’s Rafale fighter jets, C-17 Globemaster and IL-78 tankers are participating in the exercise.
- Location: Egypt
Source: Financial Express
Science and Technology
- SpaceX launches satellites to track sun storm
- What: SpaceX recently launched the Geostationary Operational Environmental Satellites-U (GOES-U) satellite using their powerful Falcon Heavy rocket.
- Why: This satellite is designed to provide critical weather, climate, and solar data to meteorologists and other parties, enhancing safety for people and property.
Source: Gulf News
Important Days
- June 26: UN International Day Against Drug Abuse and Illicit Trafficking 2024
- What: June 26th, marks the annual observance of the International Day against Drug Abuse and Illicit Trafficking, also known as World Drug Day.
- Theme: The evidence is clear: invest in prevention.
Source: UNODC
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The UN Office on Drugs and Crime (UNODC): - The UNODC was established in 1997 as a result of the merging of the UN Centre for International Crime Prevention and the UN International Drug Control Programme. - Executive Director- Ghada Fathy Ismail Waly - Headquarters- Vienna, Austria |
- June 24: 12th Passport Seva Divas
- What: Passport Seva Divas is annually observed across India on 24 June.
- Why: To mark the enactment of the Passports Act on 24 June 1967.
- Organized by: Ministry of External Affairs (MEA) and the Central Passport Organisation (CPO).
- Events 2024:
- The 2024 Passport Seva Divas coincided with the 3-day Regional Passport Officers (RPO) Conference, which was organised in Delhi from 22 to 24 June 2024.
- Passport Ranking:
- As per the Henley Passport Index 2024 (June 2024), India is ranked at the 81nd position, with access to 61 countries. The ranking is topped by Singapore with access to 195 countries.
Source: MEA
- As per the Henley Passport Index 2024 (June 2024), India is ranked at the 81nd position, with access to 61 countries. The ranking is topped by Singapore with access to 195 countries.
- June 26: World Refrigeration Day
- What: World Refrigeration Day (WRD) is annually observed across the globe on June 26 to raise awareness about the critical role that Refrigeration Air-conditioning play in modern life.
- Theme: ‘Temperature Matters’
Source: WRD
Appointments
- Bharat Lal gets one-year extension as NHRC secretary-general
- What: Bharat Lal, retired Indian Forest Services (IFS) officer, has been granted a one-year extension as secretary-general of the National Human Rights Commission (NHRC)-India
- He has been serving on the post since the year 2023.
Source: The Hindu
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About National Human Rights Commission (NHRC): - Acting Chairperson- Vijaya Bharathi Sayani - Headquarters - New Delhi, Delhi - Established- 12th October 1993 |
- Netherlands’ PM Mark Rutte picked as new Nato chief
- What: Mark Rutte, the outgoing Prime Minister of Netherlands, has been chosen as the next Secretary-General of North Atlantic Treaty Organization (NATO).
- His appointment was confirmed after his only rival, Romanian President Klaus Iohannis, withdrew from the race.
- He will take over from current Secretary-General Jens Stoltenberg on October 1, 2024.
Source: India Today
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- NATO is an intergovernmental military alliance of 32 member states—30 European and 2 North American. - It was established in the aftermath of World War II and implements the North Atlantic Treaty, signed in Washington, D.C., on April 4, 1949. |
About Anuj Jindal
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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.
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