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National & International News :
1. MoPSW launched ‘SAGAR SAMRIDDHI’, an Online Dredging Monitoring System
On 9th June 2023, Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping & Waterways (MoPSW), launched “Sagar Samriddhi - Waste to Wealth”, an online dredging monitoring system to accelerate ‘Waste to Wealth’ initiative of the MoPSW.
The system is developed by National Technology Centre for Ports, Waterways and Coasts (NTCPWC), the technological arm of MoPSW.
Introducing Sagar Samriddhi :
(a) Key Capabilities :
- Real-time monitoring and reporting of dredging progress.
- Visual representation of daily and monthly progress.
- Monitoring of dredger performance and downtime.
- Easy tracking of location data, including snapshots of loading, unloading, and idle time.
(b) Notable Features :
- Sagar Samriddhi represents a significant improvement over the previous system, the Draft & Loading Monitor (DLM) system.
- It brings together various input reports such as daily dredging reports and pre/post-dredging survey data, allowing for real-time dredging reports.
- This technology enhances productivity and contract management while promoting the efficient reuse of dredged material through the waste-to-wealth concept.
(c) Implementation :
- Currently, the Sagar Samriddhi system has been adopted by Cochin Port in Kochi, Kerala, and Mumbai Port in Mumbai, Maharashtra.
- The system is being trialed at New Mangalore Port in Mangaluru, Karnataka, and Deendayal Port in Kutch, Gujarat.
- The Ministry of Ports, Shipping, and Waterways (MoPSW) has made it mandatory for all Major Ports and the Inland Waterways Authority of India (lWAl) to utilize this system for monitoring dredging activities, with customization provided by NTCPWC.
>> About Waste to Wealth Mission :
Waste to Wealth Mission is one of the 9 scientific missions of the Prime Minister’s Science, Technology, and Innovation Advisory Council (PMSTIAC).
Aim :
- To identify, develop, and deploy technologies to treat waste to generate energy, recycle materials, and extract resources of value.
- To identify and support the development of modern technologies that promise to create a clean and green environment.
2. Centre takes 5 significant decisions for strengthening Primary Agricultural Credit Societies
On 8th June 2023, the Government of India has taken 5 more important decisions revolving around Primary Agricultural Credit Societies (PACS), a basic unit and the smallest cooperative credit institution in India works on the grassroots level (gram panchayat and village level).
The Five Decisions :
(i) There are approximately 100,000 Primary Agricultural Credit Cooperative Societies (PACS) operating across India. Through mapping, we will identify PACS that are not currently functioning as fertiliser retailers and encourage them to gradually transition into retailers based on feasibility.
(ii) PACS that are not currently operating as Pradhan Mantri Kisan Samridhi Kendras (PMKSK) will be brought under the scope of PMKSK. It is important to note that PMKSK aims to cater to the needs of farmers in India by providing agricultural inputs such as fertilisers, seeds, and implements, as well as testing facilities for soil, seeds, and fertilisers.
(iii) PACS will be connected with the marketing of organic fertilisers, with a particular emphasis on Fermented Organic Manure (FoM), Liquid Fermented Organic Manure (LFOM), and Phosphate-enriched Organic Manure (PROM).
(iv) PACS can also be engaged as drone entrepreneurs for the purpose of spraying fertilisers and pesticides. Drones can also be utilized for property surveys.
(v) Fertiliser companies will act as aggregators for small-scale bio-organic producers to facilitate the marketing of their end products. This will be done under the Market Development Assistance (MDA) scheme of the Department of Fertilisers. PACS will be included as wholesalers/retailers in the supply and marketing chain of bio-organic fertilisers.
3. Union Minister Sarbananda Sonowal flagged off MV Empress, India’s 1st International Cruise from Chennai
On 5th June, 2023, The Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal flagged off the India’s maiden International Cruise Vessel - MV Empress - from Chennai to Sri Lanka in Chennai, Tamil Nadu(TN). It is built at a cost of Rs.17.21 crores.
- The cruise service is the result of an Memorandum of understanding(MoU) signed during the first Incredible India International Cruise Conference in 2022 between Chennai Port and M/S Waterways Leisure Tourism Pvt Ltd to start domestic and international cruise service.
- The modern cruise terminal developed at Chennai Port is spread over an area of 2,880 square metres with an ability to host 3,000 passengers at a time.
- The cruise service will go to three ports in Sri Lanka, Hambantota, Trincomalee and Kankekanturi.
4. Government of India constitutes Peace Committee in Manipur under the Chairpersonship of Governor, Manipur
The Central government has established a peace committee in Manipur, with Governor Anusuiya Uikey serving as the chairman.
- The committee comprises a diverse group of members, including the Chief Minister, several state government ministers, Members of Parliament (MP), Members of the Legislative Assembly (MLA), political party leaders, former civil servants, educators, literary figures, artists, social workers, and representatives from various ethnic groups.
Objective : The primary goal of this committee is to foster the process of peace-building among different ethnic communities in the state. It aims to facilitate dialogue and reconciliation between conflicting groups, strengthen social cohesion, promote mutual understanding, and facilitate harmonious communication among all stakeholders.
5. Union Cabinet approves continuation of ‘Exploration of Coal and Lignite Scheme’
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the continuation of the Central Sector Scheme called "Exploration of Coal and Lignite scheme."
- The scheme will be implemented from 2021-22 to 2025-26, aligned with the 15th Finance Commission cycle, and will require an estimated expenditure of Rs 2980 crore.
- The exploration for coal and lignite under the scheme is conducted in two broad stages : (i) Promotional (Regional) Exploration and (ii) Detailed Exploration in non-Coal India Limited blocks.
- An outlay of Rs 1,650 crore will be provided for promotional (Regional) exploration and Rs 1,330 crore for detailed drilling in non-CIL (Coal India Limited) areas.
6. India Army signed its 2nd Procurement Contract with Astrome Tech Pvt Ltd for “Tactical LAN Radio systems”
On 9th June 2023, the Indian Army signed a contract with Astrome Technologies Private Limited, Bengaluru (Karnataka)-based start-up company to procure the indigenously-developed "Tactical LAN (Local area network) Radio" for reliable and interference-free communication in remote and difficult terrain.
- It is the second procurement contract that the Indian Army has signed in order to furthering its commitment to the "Make in India" Campaign through Innovations for Defence Excellence (iDEX).
- Tactical LAN Radio is a state of the art high bandwidth backhaul wireless radio equipment designed to provide reliable and fail-safe communication.
LAN Radio Key Features :
(i) The LAN Radio solution provides an extended communication range and includes an embedded frequency hopping mechanism to minimize interference and enable long-range point-to-multipoint high-bandwidth communication.
(ii) It incorporates advanced safety features and has the capability to operate continuously for 48 hours on a single set without experiencing any breakdowns.
(iii) Astrome, a technology company, has developed an innovative wireless product called 'GigaMesh' to address the internet connectivity challenges faced in rural areas of India.
- In 2022, Astrome received a pilot project from the Department of Telecommunications (DOT) and successfully deployed Multi-Link E-band radios, which Astrome claims to be the world's first system of its kind for providing broadband internet connectivity in rural Karnataka.
iDEX : iDEX framework, formulated and approved by the Ministry of Defence, was launched by Narendra Modi, the Prime Minister of India in April 2018, during Defence Expo India 2018, aims to create an ecosystem to foster innovations and encourage technological advancements in Defence and Aerospace.
About Astrome Technologies Pvt. Ltd :
Incorporated on : 20th May 2015
Chairman & Co-founder & Chief Technology Officer (CTO) : Prasad Laxminarayana Horabailu
Co-Founder & CEO : Neha Satak
Headquarters : Bengaluru, Karnataka
7. 1st ACTCM Barge of the series of LSAM 15 (Yard 125) delivered to Indian Navy at NAD (Karanja), Mumbai
On June 9, 2023, the first barge of the Ammunition Cum Torpedo Cum Missile (ACTCM) series LSAM 15 (Yard 125) was delivered to the Indian Navy (IN) at the Naval Armament Depot (NAD) in Karanja, Mumbai, Maharashtra.
- The construction contract for the 11 ACTCM Barges was awarded to M/s Suryadipta Projects Pvt Ltd, located in Thane, Maharashtra. This company is a Micro, Small & Medium Enterprise (MSME), aligning with the "Aatmanirbhar Bharat" initiatives of the Government of India.
>> Key Information about the barge :
(i) The barge was built in accordance with the classification rules of the Indian Register of Shipping (IRS) and is expected to have a service life of 30 years.
(ii) The major and auxiliary equipment utilized in the barge is sourced from indigenous manufacturers.
(iii) The availability of the ACTCM Barges will greatly enhance the operational capabilities of the Indian Navy by facilitating the transportation, embarkation, and disembarkation of articles or ammunition to IN Ships. This includes operations both alongside jetties and at outer harbors.
8. PESB Recommended Sanjay Swarup as the Next CMD of CONCOR
On 7th June 2023, the Public Enterprises Eelection Board (PESB) recommended Sanjay Swarup for the post of Chairman and Managing Director (CMD) of Container Corporation of India Limited (CONCOR), Public Sector Undertaking (PSU) under the Ministry of Railways.
- Currently, Sanjay Swarup is serving as the Director (International Marketing & Operations) at CONCOR, India’s biggest rail hauler of containers.
- The recommendation of PESB is yet to be signed off by the Appointments Committee of the Cabinet (ACC).
- V Kalyana Rama, the current CMD, is set to be step down from the role in September 2023.
About Container Corporation of India Limited (CONCOR) :
Incorporated in : March 1988 and
Started Operations from : November 1989
Chairman and MD : V. Kalyana Rama
Headquarters : New Delhi, Delhi
9. IEA report : Global Renewable Capacity Additions to increase by 107 GW in 2023
According to Renewable Energy Market Update – June 2023 of International Energy Agency (IEA), the Global renewable capacity additions are set to increase by 107 gigawatts (GW), the largest absolute increase ever, to more than 440 GW in 2023.
- Solar photovoltaic (PV) capacity, including both large utility-scale and small distributed systems, accounts for two-thirds of 2023’s
projected increase in global renewable capacity.
- Global renewable capacity additions could reach 550 GW in 2024 in our accelerated case, almost 20% higher than in the main forecast.
- The utility-scale solar PV capacity additions (made up mainly of capacity awarded in auctions) of India in 2022 reached to 14 GW, accounting for over two-thirds of RE growth in India.
10. IBA Men’s World Boxing Championships 2023
3 Indian boxers, Deepak Kumar, Mohammed Hussamuddin and Nishant Dev, have won the bronze medal at the 22nd edition of the International Boxing Association (IBA) World Men’s Boxing Championships (2023), held at the Humo Arena in Tashkent, Uzbekistan.
>> Medals List - Top 3 and India :
1. Uzbekistan - 9 (Gold - 5, Silver - 2, Bronze - 2)
2. Kazakhstan - 5 (Gold - 4, Silver - 1)
3. Russia - 6 (Gold - 2, Bronze - 4)
12. India - 3 (Bronze - 3) & Spain - 3 (Bronze - 3)
>> Awards :
1. Best Team Award - Uzbekistan
2. Best Boxer award - Hasanboy Dusmatov,Uzbekistan
3. Best Judge and Referee Award - Tamim Sultani,Afghanistan
>> Indian Medalists :
1. Flyweight (51KG) - Deepak Bhoria
2. Light Middleweight (71 KG) - Nishant Dev
3. Featherweight (57 KG) - Mohammad Hussamuddin
Banking & Finance News :
1. Samco launches India’s 1st Actively-managed momentum fund, SAMCO Active Momentum Fund
SAMCO Asset Management Private Limited, the Investment Manager of SAMCO Mutual Fund, has introduced SAMCO Active Momentum Fund, which is India's first actively-managed momentum fund.
- The fund follows a momentum theme and is an open-ended equity scheme with the Nifty 500 Index TRI as its benchmark index.
- The New Fund Offering (NFO) for SAMCO Active Momentum Fund starts on June 15, 2023, and concludes on June 29, 2023.
- The Minimum Application Amount for investment in the fund is Rs 5000, and subsequent investments can be made in multiples of Rs 1/- .
- Investors can also opt for a Systematic Investment Plan (SIP) with a minimum investment amount of Rs 500, and subsequent investments in multiples of Rs 1/- .
- SAMCO Active Momentum Fund invests only during periods of momentum, while staying out of the markets during periods of anti-momentum.
- The fund's investment decisions will be overseen by Paras Matalia, the designated fund manager, who will work towards maximizing returns for the investors.
2. Federal Bank launches ‘I am Adyar, Adyar is me’ campaign in Chennai
Aluva(Kerala)-based Federal Bank Limited has undertaken the ‘I am Adyar, Adyar is me’ campaign in Chennai, Tamil Nadu(TN) and transformed an entire bank branch into a living museum of local stories.
- The campaign has handpicked 40 compelling stories of individuals, which are showcased in an exclusive exhibition at the Adyar branch of Federal Bank.
- This art exhibition will run for two weeks between 10 a.m. and 6 p.m.
- Over 100 auto-rickshaws have been decorated with the campaign’s branding.
[ In February, 2023, the Bank had emphasised its focus on human connection with the campaign, “Rishta Aap Se Hai, Sirf App Se Nahi”. ]
3. ICAR signs an MoU with Amazon Kisan to Empower Farmers
On June 9, 2023, the Indian Council of Agricultural Research (ICAR) and Amazon Kisan, signed a Memorandum of Understanding (MoU) to combine strengths and create synergy between the two organisations to guide farmers who are enrolled on Amazon’s ‘Kisan store’ on scientific cultivation of different crops and help them achieve optimum yield and income.
Important Points :
(i) The Memorandum of Understanding (MoU) between ICAR (Indian Council of Agricultural Research) and Amazon involves collaboration in technologies, capacity building, and knowledge transfer. ICAR will provide technological support to farmers through Amazon's network, aiming to improve livelihoods and enhance crop yield.
(ii) The partnership between farmers and Amazon's Kisan program, as part of the MoU, establishes a Public-Private-Peasants-Partnership (PPPP). It aims to ensure access to high-quality fresh produce for consumers across India, including through Amazon Fresh.
(iii) ICAR and Amazon will jointly organize farmer engagement programs at Krishi Vigyan Kendras (KVKs), including demonstrations, trials, and capacity-building initiatives. These efforts will focus on improving farming practices and profitability.
- Amazon will offer training support and assist farmers in marketing their produce through its online platform, enabling direct connections with consumers.
- KVKs will play a crucial role in strengthening a broader group of farmers by leveraging technological advancements through the transfer of technology and capacity-building programs.
(iv) The MoU stems from a pilot project conducted in Pune, Maharashtra, between ICAR-KVK and Amazon. The successful outcomes of the collaboration prompted the expansion of the partnership to further disseminate precise agricultural practices developed through extensive research.
Other News :
1. Renowned Doordarshan anchor, Gitanjali Aiyar passes away
Gitanjali Aiyar, one of India’s first English news presenters on national broadcaster Doordarshan(DD) passed away.
- She worked with DD for over 3 decades since 1971 and was awarded the best anchor 4 times.
- She was honoured with the Indira Gandhi Priyadarshini Award for Outstanding Women in 1989.
News Highlights :
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