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National & International News :
1. Prime Minister Narendra Modi Unveils Inaugural National Training Conclave for Civil Servants
On 11th June 2023, Narendra Modi, Prime Minister (PM) of India inaugurated the first-ever National Training Conclave aimed at strengthening the training infrastructure for Civil Servants across India at an event held at the International Exhibition and Convention Centre, Pragati Maidan, New Delhi, Delhi.
- The Conclave was being hosted by the Capacity Building Commission (CBC) and is organised under the authority of the National Programme for Civil Services Capacity Building (NPCSCB) - 'Mission Karmayogi' .
Important :
- The iGOT Karmayogi platform has created equal opportunities for everyone to receive training, leveling the playing field.
- The Karmayogi Mission aims to enhance the mindset, orientation, and approach of government personnel.
- The Conclave featured eight-panel discussions addressing key concerns in Civil Services training institutes, including faculty development, training impact assessment, and content digitization.
- Over 1500 representatives from diverse training institutes, including Central, State, Regional, and Zonal Training Institutes, as well as Research institutes, attended the event.
- Participants in the discussions included Civil Servants from Central and State governments, local governments, and experts from the private sector.
2. MoP and MNRE Collaborate to Launch 'Mission on Advanced and High-Impact Research' for Power Sector Transformation through Emerging Technologies
The Ministry of Power (MoP) and the Ministry of New and Renewable Energy (MNRE) have jointly launched a national mission named “Mission on Advanced and High-Impact Research” (MAHIR).
Objective : To quickly identify emerging technologies in the power sector and leverage them indigenously, at scale, for deployment within and outside India.
- The Mission will be funded by pooling financial resources of the MoP, MoNRE and the Central Public Sector Units (PSUs) under the two Ministries of MoP and MNRE.
3. The United Nations General Assembly (UNGA) elected 5 new non-permanent member of UN Security Council
The United Nations General Assembly (UNGA) has elected five countries, namely Algeria, Guyana, Republic of Korea (South Korea), Sierra Leone, and Slovenia, as non-permanent members of the UN Security Council (UNSC).
- These countries will serve as non-permanent members for a two-year period, starting from January 2024 and ending in December 2025.
- The newly elected countries will take the place of the outgoing non-permanent members: Albania, Brazil, Gabon, Ghana, and the United Arab Emirates (UAE).
- The terms of the outgoing members will conclude on December 31, 2023.
About UN Security Council :
Formed in : 1945
HQ : New York
Permanent Members : 5 (China, France, Russia, the United Kingdom and the United States)
Non - Permanent Members : 10
4. ADB Approves USD 130 Million Loan for Horticulture Development in Himachal Pradesh
On June 8, 2023, the Asian Development Bank (ADB) and the Government of India signed a USD 130 million loan agreement.
- The loan is intended for the Himachal Pradesh Subtropical Horticulture, Irrigation, and Value Addition Project, aimed at enhancing agricultural productivity, improving irrigation access, and promoting horticulture agribusinesses in Himachal Pradesh, India.
- The agreement is a result of ADB's project readiness facility, which demonstrated subtropical horticulture production across 200 hectares and prepared the draft Water User Association (WUA) act and the draft State Horticulture Development Strategy.
- The project aims to increase the income and climate change resilience of at least 15,000 farm households across seven districts : Bilaspur, Hamirpur, Kangra, Mandi, Sirmour, Solan, and Una.
- Approximately 6,000 hectares of farmland will benefit from improved on-farm irrigation and water management through the rehabilitation or construction of irrigation schemes, as well as strengthening the capacity of water user associations (WUAs).
- To facilitate access to subtropical horticulture markets, the project will establish cluster-wide Community Horticulture Production and Marketing Associations (CHPMAs) and district-wide CHPMA cooperative societies.
- Farmer Producer Companies (FPCs) will manage CHPMAs and handle tasks such as business plan development, agribusiness promotion, and the design of value-addition facilities like sorting and packaging centers, as well as storage and collection centers.
About Asian Development Bank :
President : Masatsugu Asakawa
Headquarters : Manila, Philippines
Established : 1966
Banking and Finance News :
1. SIDBI Launches Mission EVOLVE to Provide Financing for MSMEs in the Electric Vehicle Sector
Small Industries Development Bank of India (SIDBI) launched mission EVOLVE (Electric Vehicle Operations and Lending for Vibrant Ecosystem) in a tie-up with the Niti Aayog, World Bank, Korea-World Bank partnership facility, and Korean Economic Development Cooperation Fund (EDCF) to finance MSMEs (Micro, Small and Medium Enterprises) in the electric vehicles space.
Objective : The objective of mission EVOLVE is to provide affordable commercial financing for EV loans to MSMEs, including hosting telematics and reducing financing costs.
- Under the partnership, Niti Aayog will give technical support to SIDBI, and financial assistance would be provided by the World Bank, the Korea-World Bank partnership facility and the Korean EDCF.
About SIDBI :
Founded in : 1990
HQ : Lucknow, Uttar Pradesh
Chairman & MD : Sivasubramanian Ramann
2. ICAI and IBA Collaborate to Establish Unified Platform for Balance Confirmations
The Indian Banks’ Association (IBA) and the Institute of Chartered Accountants of India (ICAI) plans to set up a Common Platform for Balance Confirmations which will be jointly controlled by both entities.
- The platform’s development and maintenance will be handled by Mumbai based PSB Alliance in collaboration with Hyderabad based Institute for Development and Research in Banking Technology (IDRBT).
- The PSB Alliance is a joint venture umbrella corporation that was founded and owned by all 12 Public Sector Banks (PSBs).
3. INDIA 100 2023 Brand Finance Report
The brand valuation firm Brand Finance released its INDIA 100 2023 : The annual report on the most valuable and strongest Indian brands- June 2023 report in which the Tata Group has retained its 1st position as India’s most valuable brand at USD (United States Dollar) 26,381 Million in 2023.
- It has shown a growth at 10.3% as compared to 2022.
A. List of top 5 India’s Most Valuable Brands :
B. List of Top 5 India’s Strongest Brands :
C. Most Valuable Indian Brands in 2023 in Different Categories :
4. Insurance gets IRDAI Approval to Carry Life Insurance Business in India
Insurance Regulatory and Development Authority of India (IRDAI) granted the Certificate of Registration (CoR) to Go Digit Life Insurance Limited (Go Digit) to carry out life insurance business in India.
- The approval brings the total number of insurers in the Indian life insurance segment to 26.
5. First Loss Default Guarantee (FLDG) to deepen partnerships between lenders and fintechs
The Reserve Bank of India (RBI) has approved the First Loss Default Guarantee (FLDG) framework, allowing fintech to partner with banks
and non-Banking financial companies (NBFCs).
- The central bank has allowed a 5% default loss cover for bank-fintech deals.
[ FLDG : A first loss default guarantee is a lending arrangement between a regulated entity and a financial technology company or a lending services provider, wherein the latter agrees to compensate up to a certain percentage of default in the loan portfolio. ]
Other News :
1. International Archives Day 2023 - 9th June
Every year on June 9th, International Archives Day is globally celebrated to raise awareness about the significance of archives, advocate for their protection, promote free access to archives, and emphasize the need to support archives and the archival profession.
- The observance highlights the crucial role archives play in ensuring administrative accountability and transparency, safeguarding the rights of individuals and organizations, and preserving society's cultural heritage.
- The International Council on Archives (ICA) initiated the day to commemorate the establishment of the Council in 1948.
- The inaugural International Archives Day took place on June 9, 2008.
2. World Day Against Child Labour 2023 - 12th June
Every year on June 12th, the United Nations (UN) observes the World Day Against Child Labour worldwide, aiming to raise awareness about the issue of child labour, highlight the necessary actions and efforts to eliminate it, and encourage the global movement against child labour.
Theme : The theme for the World Day Against Child Labour 2023 is " Social Justice for All. End Child Labour ! "
- This year marks the 21st anniversary of the World Day Against Child Labour.
- The inaugural World Day Against Child Labour was observed on June 12, 2002.
News Highlights :
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| Daily Current Affairs by Eduguide360 |
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