News360 - 2nd June , 2023 | Daily Current Affairs

 

National & Internaltional News :

1. Cabinet Approvals - 31st May , 2023

(a) Cabinet approves Constitution and Empowerment of IMC for Facilitation of World’s Largest Grain Storage Plan in Cooperative Sector

The Union Cabinet has approved the formation of an Inter Ministerial Committee (IMC) to facilitate the World's Largest Grain Storage Plan in the Cooperative Sector in India. The government will invest around Rs 1 trillion to increase the foodgrain storage capacity by 700 lakh tonnes over the next five years. The plan aims to reduce foodgrain damage, prevent distress sales by farmers, decrease import dependence, and create rural employment opportunities.

- The plan will integrate various schemes from the Ministries of Agriculture and Farmers Welfare, Consumer Affairs, Food and Public Distribution, and Food Processing Industries. A pilot project will be implemented in 10 districts to identify regional requirements before nationwide implementation.

- The IMC, chaired by the Minister of Cooperation, will be responsible for modifying guidelines, creating infrastructure, and coordinating the ministries involved. The plan will establish godowns at the level of Primary Agricultural Credit Societies (PACS) to address storage infrastructure shortages and enable PACS to undertake activities such as procurement, fair price shops, custom hiring centers, and common processing units.

- The plan will strengthen PACS and enhance farmer incomes through a whole-of-government approach. A National Level Coordination Committee will be formed, and implementation guidelines will be issued within 15 days. A portal linking PACS with the government will be launched within 45 days. Implementation will commence within 45 days of Cabinet approval.

Currently, India has 65,000 agricultural cooperative societies, and the existing godown facilities can store only 47% of the annual foodgrain production of 3,100 lakh tonnes.

(b) Cabinet approves establishment of Regional Office of the UPU in New Delhi

The Cabinet has given its approval for the establishment of a Regional Office of the Universal Postal Union (UPU) in New Delhi, Delhi. This office will primarily focus on UPU's development cooperation and technical assistance activities, working in collaboration with the UPU.

>> As part of this collaboration, India will contribute a Field Project Expert, provide staff members, and allocate office space for the regional office.

The office will undertake projects aimed at enhancing postal services, technology, e-commerce, and trade promotion in the region.

This initiative will not only expand India's diplomatic outreach and strengthen its relationships with other countries, especially in the Asia-Pacific region, but also amplify India's presence in global postal forums.

About Universal Postal Union (UPU) :  Established by the Treaty of Bern of 1874, in 1874, it is specialized agency of the United Nations (UN) to promote and facilitate the smooth functioning of international postal services and foster cooperation among its member countries. It is the second-oldest international organization after the International Telecommunication Union (ITU).

Director General : Masahiko Metoki

Headquarters : Berne, Switzerland

Members : 192 nations

(c) Cabinet approves City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0) from 2023 to 2027

The Union Cabinet has approved the expansion of the Smart Cities Program through the 'City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0)' initiative to 18 additional cities.

- CITIIS 2.0 is a collaborative effort between the Ministry of Housing and Urban Affairs (MoHUA), the French Development Agency (AFD), Kreditanstalt für Wiederaufbau (KfW), the European Union (EU), and the National Institute of Urban Affairs (NIUA).

- The funding for CITIIS 2.0 includes a loan of Rs 1,760 crore (EUR 200 million) from AFD and KfW (EUR 100 million each) and a technical assistance grant of Rs 106 crore (EUR 12 million) from the EU.

- The initiative has three main components: supporting climate resilience projects in smart cities, assisting states and union territories in setting up climate centers and data observatories, and strengthening climate governance in urban India through institutional strengthening and capacity building.

- The cities interested in participating will need to apply to the government and undergo a selection process for final approval.

CITIIS 2.0 aligns with existing national programs such as the National Mission on Sustainable Habitat, AMRUT 2.0, Swachh Bharat Mission 2.0, and Smart Cities Mission, complementing the climate actions of the Government of India.

- It also contributes to India's Intended Nationally Determined Contributions (INDCs) and commitments at the Conference of the Parties (COP26).

2. Health Minister Mansukh Mandaviya inaugurates National Training Centre for FSSAI

Union Minister Dr. Mansukh Mandaviya inaugurated the National Training Centre for Food Safety and Standards Authority of India (FSSAI) in Ghaziabad, Uttar Pradesh on May 31, 2023.

- The new training center aims to bridge the gap between existing knowledge and desired knowledge in the field of food safety and standards.

- It will offer various training programs mandated by the Food Safety and Standards Act and Rules, targeting individuals involved in food businesses, including operators, employees, and designated officers.

- The establishment of the center will contribute to developing a skilled and future-ready workforce dedicated to ensuring safe and wholesome food for the people of India.

- The launch of the Food Safety and Certification (FoSTaC) app, developed by FSSAI, took place during the event. The app provides e-learning modules on food safety guidelines for street vendors, covering topics such as proper food handling, storage, and hygiene practices.

Additionally, two books were released by Dr. Mandaviya : "Millets (Shree Anna) Recipes: A Healthy Menu for Mess/Canteens" and "Healthy Gut, Healthy You - Traditional recipes with potential probiotic benefits."

About Food Safety and Standards Authority of India (FSSAI) :

Chief Executive Officer (CEO)-G. Kamala Vardhana Rao

Established : 5 September 2008

Acts related to FSSAI : Food Safety and Standards Act (2006)

3. MeitY launches pilot project on Electronics Repair Services Outsourcing

The Ministry of Electronics and Information Technology (MeitY) has launched a pilot project called Electronics Repair Services Outsourcing (ERSO) in Bengaluru, Karnataka.

- The pilot project will run for three months on a trial basis and involves five companies: Flex, Lenovo, CTDI, R-Logic, and Aforeserve.

Objective : The objective of the ERSO scheme is for India to capture 20% of the global repair service market, which is currently valued at $100 billion, within a span of five years.

Currently, India's revenue from repair services is approximately $350 million, and it is projected to reach $20 billion in the next five years.

- The initiative aligns with Mission LiFE (Lifestyle for Environment), promoting environmental sustainability.

- MeitY, CBIC, DGFT, and MoEF&CC collaborated with the industry to establish India as the most attractive repair destination for ICT (Information and Communications Technology) products globally.

4. Amarendu Prakash Takes Charge as SAIL Chairman; Succeeds Soma Mondal

On 31st May 2023, Amarendu Prakash took charge as the new Chairman of Steel Authority of India Ltd (SAIL), a Maharatna a Central Public Sector Enterprise(CPSE) under the Ministry of Steel.

Prior to this appointment, he has been servings as the Director (In-charge) of SAIL’s Bokaro steel plant(BSL), in Bokaro, Jharkhand, since 2020. He succeeds Soma Mondal, who retired from the post on April 30, 2023.

- A metallurgical engineer from BIT Sindhri, Shri Prakash joined SAIL in 1991 as a Management Trainee (Technical) and worked at various capacities with  in . After working in various positions of responsibilities in plants and units, Shri Amarendu Prakash was selected as a Director in the SAIL Board in charge of Bokaro Steel Plant in 2020.

Prakash joined SAIL in 1991 as a Management Trainee (Technical) and worked at various capacities with responsibilities in plants and units.

5. Sachin Tendulkar named ‘Smile Ambassador’ for oral hygiene campaign in Maharashtra

On 30th May 2023, Cricket Icon Sachin Tendulkar was named the ‘Smile Ambassador’ for Maharashtra’s ‘Swachh Mukh Abhiyan’(SMA), a campaign to create awareness about oral health and hygiene across Maharashtra, for a period of 5 years.

- Maharashtra Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis have signed a Memorandum of Understanding (MoU) with Sachin Tendulkar to collaborate on a campaign.

- The campaign, named SMA, is a joint effort with the Indian Dental Association (IDA) and aims to promote oral hygiene.

- The IDA hopes that this campaign will contribute to achieving optimal oral health in India and establish a new model of oral healthcare.

6. Virat Kohli becomes 1st batter to cross 7,000 runs in IPL

On May 6, 2023, Virat Kohli of Royal Challengers Bangalore (RCB) became the first player to reach 7000 runs in the IPL T20 tournament.

He accomplished this milestone during his innings of 55 runs off 46 balls in a match against the Delhi Capitals (DC) at the Arun Jaitley Stadium in Delhi.

- Kohli also holds the record for the most runs scored in a single edition of the IPL, achieving 973 runs in 2016.

Additionally, he set a record of scoring the highest number of centuries in the IPL, with 7 hundreds, surpassing Chris Gayle's record of 6 centuries.

- In another match against Mumbai Indians (MI) at the M. Chinnaswamy Stadium, Kohli became the first Indian player to score 50 or more fifties in the IPL.

- David Warner of the Delhi Capitals holds the record for the most half-centuries in the IPL, with 61 scores of 50 runs or more, along with four centuries.

- On April 15, 2023, Kohli became the first player to score 2500 runs at a single venue, achieving the milestone during a match against the Delhi Capitals at the M. Chinnaswamy Stadium in Bengaluru, Karnataka.

He also holds the record for the most runs at a single venue in an IPL season, scoring 597 runs at the Chinnaswamy Stadium in Bengaluru in 2016.

7. JSW Steel becomes 1st Manufacturer to get CII’s GreenPro Ecolabel

JSW Steel Limited, an integrated steel manufacturer and a flagship company of the JSW Group, has become the first manufacturer to receive the GreenPro ecolabel for its 'Automotive Steel' products.

- The GreenPro Ecolabel, developed by the Confederation of Indian Industry's (CII) Green Business Centre, recognizes high standards of environmental sustainability and product performance in the Indian manufacturing sector.

- JSW Steel's 'Automotive Steel' products from its Vijayanagar plant underwent thorough assessments and met the stringent criteria set by the GreenPro certification.

- This certification indicates that JSW Steel's products are manufactured with careful consideration for their environmental impact throughout their lifecycle, including sourcing of raw materials, production processes, energy consumption, and end-of-life management.

- The GreenPro ecolabel on JSW Steel's 'Automotive Steel' products will enable automotive manufacturers to make informed choices, encouraging the adoption of sustainable materials in their supply chains, as stated by the company.

Note : GreenPro is a Type – 1 Ecolabel which enables the end users in the building sector and manufacturing industries to choose right products, materials and technologies for reducing the environment impacts during the construction, operation and maintenance of their buildings and factories.

8. North Korea 1st spy satellite launch fails

On May 30, 2023, North Korea’s attempt to put the country’s first spy satellite “Malligyong-1 satellite” into space failed as the new satellite transport rocket Chollima-1 lost propulsion and crashed into waters off the Korean Peninsula’s western coast.

- The rocket was launched. from the North’s Sohae Satellite Launching Ground northwestern Tongchang-ri area, Cholsan, North Pyongan Province, North Korea.

- This satellite launch by North Korea is a violation of United Nations Security Council (UNSC) resolutions that ban the country from conducting any launch based on ballistic technology.

Economy :

1. PFC and RITES signs MoU for strategic partnership for financing infrastructure and logistics sector

RITES (Rail India Technical and Economic Service), a leading transport infrastructure consultancy and engineering firm, has signed an MoU with Power Finance Corporation (PFC), a Maharatna Central Public Sector Undertaking (CPSU).

- The MoU establishes a strategic partnership between RITES and PFC for financing infrastructure and logistics sector projects in India and abroad.

- The partnership aims to support projects in sectors like water & sanitation, transport & logistics, energy, communication, social infrastructure, and commercial infrastructure.

- RITES will provide its expertise in pre-feasibility reports, detailed project reports, transaction advisory, project management services, audits, and inspections.

- PFC and its companies will offer financial support for both domestic and international infrastructure projects.

- The partnership will explore opportunities with government/semi-government/autonomous bodies, authorities, private entities, and multilateral funding agencies such as the World Bank (WB), Asian Development Bank (ADB), and Japan International Cooperation Agency (JICA).

Banking & Finance News :

1. Kiwi launches ‘credit on UPI’ platform to enable credit service on UPI

Kiwi, a ground-breaking credit card platform, has launched its all-inclusive ‘Credit on Unified Payments Interface (UPI)’ customer solution, thereby, transforming how credit cards are issued and utilized. 

- Kiwi, the first app in India to receive certification from the National Payments Corporation of India (NPCI), will enable customers to experience “Credit on UPI” by issuing Rupay Cards in collaboration with banks. This allows users to securely make payments using either a credit card or bank account through their phones. It has set an ambitious goal to become the leading issuer of RuPay credit cards by 2026.

- RBI allowed linking of RuPay credit cards to the UPI platform in June 2022.

2. Bajaj Allianz Life Insurance Launches India’s 1st Insurance Plan for Diabetics

Bajaj Allianz Life Insurance Co. Ltd., a private life insurer, has launched a pioneering insurance plan called 'Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c' on May 29, 2023. This plan is specifically designed for individuals with Type 2 diabetes or pre-diabetes, addressing the unique health considerations associated with diabetes.

- Bajaj Allianz Life recognizes that India is known as the "diabetes capital of the world," with the diabetic population expected to reach 69.9 million by 2025 and 80 million by 2030.

- The Diabetic Term Plan Sub 8 HbA1c offers life insurance coverage, taking into account the specific health condition of individuals with diabetes.

- This term plan provides financial security for individuals who are pre-diabetic or have Type 2 diabetes, with an HbA1c (Haemoglobin A1c) level of up to 8%.

About Bajaj Allianz Life Insurance Co. Ltd : It is a joint venture between Bajaj Finserv Limited, and Allianz SE.

MD&CEO : Tarun Chugh

Headquarters : Pune, Maharashtra

Establishment : August 2001

3. Yubi partners with Indian Bank to provide digital Supply Chain Financing for SMEs

Chennai (Tamil Nadu) based Yubi (formerly known as CredAvenue), has partnered with Indian Bank to extend digital supply chain financing solutions to small and medium-sized businesses (SMEs). Under this, Indian Bank will utilize Yubi’s technology and platform to digitally enable and scale its supply chain financing book through vendor and dealer financing, targeting large corporations and their SME counterparties.

- Yubi is an online debt marketplace that connects borrowers and lenders for various credit products.

- The partnership is expected to disburse Rs 1,500 crore within the first year.

Other News :

1. Padma Shri awardee & Sanskrit Scholar Ved Kumari Ghai passed away

On May 30, 2023, Ved Kumari Ghai, a renowned Sanskrit scholar and recipient of the Padma Shri award, passed away at her residence in Jammu, Jammu & Kashmir. She was born on December 16, 1931.

- She began her career as a Sanskrit professor at Government College for Women, Parade, Jammu.

- She authored books such as "Kashmir Darpan," "Narendra-Darpan," and "Kashmir ka Sanskrit Sahityako Yogdann" (Kashmir's Contribution to Sanskrit Literature).

- Ved Kumari Ghai co-authored several books with her husband Professor Ram Pratap, including "Urmika" (a Collection of Sanskrit Poems) and "Mera Geet Tumhaaray Hain" (Hindi), among others.

- Her scholarly book "Studies in Phonetics and Phonology" received widespread acclaim.

- In 1995, she was awarded the President of India's "Certificate of Honour" and received the Gold Medal from the Jammu and Kashmir Government for her social work.

- In 1997, she won the President's Award for Sanskrit. She was also honored with the Dogra Ratan award in 2005, a lifetime achievement award in 2009, and the Stri Shakti Puraskara in 2010.

- Ved Kumari Ghai was bestowed with the Padma Shri in 2014 under the discipline of Literature and Education.

2. World Multiple Sclerosis Day 2023 - 30th May

Source : Hindustan Times (Downloaded from Google)

World Multiple Sclerosis (MS) Day is observed annually on May 30th to raise awareness about Multiple Sclerosis (MS) and to provide support to those who are living with this disease.

- Multiple sclerosis is a chronic Autoimmune disease that affects the central nervous system, including the brain and spinal cord.

Theme : The theme for World Multiple Sclerosis Day 2020-2023 is “connections”.

The annual observance of World MS Day is coordinated by the MS International Federation and its members.

About Multiple Sclerosis International Federation :

Chief Executive Officer (CEO) : Peer Baneke

Headquarters : London,United Kingdom

Established : 1967

3. Global Day of Parents 2023 - 1st June

Source : Zee Business (Downloaded from Google)

The Global Day of Parents, recognized by the United Nations (UN), is observed annually on June 1st worldwide. It aims to honor parents and raise awareness about the crucial role of quality parenting and family life in a child's upbringing.

- The significance of this global observance lies in acknowledging the vital role parents play in children's development and emphasizing that families have the primary responsibility for nurturing and protecting their children.

- The day serves as a platform to express appreciation for parents worldwide, recognizing their selfless commitment and lifelong sacrifices in nurturing their relationships with their children.

- The first-ever Global Day of Parents was observed on June 1st, 2013.

- In 1994, the UN designated the International Year of the Family with the theme "Family: resources and responsibilities in a changing world."

- In 1993, the United Nations General Assembly (UNGA) adopted a resolution proclaiming May 15th of each year as the "International Day of Families" to promote awareness about the importance of families and their role in society.

4. World Milk Day 2023 – 1st June

Source : Netmeds.com (Downloaded from Google)

World Milk Day (WMD) is annually celebrated across the world on 1st June to create awareness about the importance of milk, one of the most widely produced and valuable agricultural commodities on Earth.

- The day recognises milk as global food and celebrates the dairy sector.

- The day aims to create awareness about the benefits of milk and dairy products highlighting the contribution of Dairy industries in providing livelihood to billions of people across the globe.

- The annual observance of World Milk Day is led by the Food and Agriculture Organization of the United Nations(FAO).

Theme : The common theme of the observance is " The potency of milk and the milk industry " .

India’s National Milk Day :

India celebrates National Milk Day on 26th November, the birth anniversary of Dr. Verghese Kurien, who is also known as the 'Father of White Revolution“.

About Food and Agriculture Organization of the United Nations (FAO) :

Director-General : Qu Dongyu

Headquarters : Rome, Italy

Highlights :

News Highlights : 2nd June , 2023 (Daily Current Affairs by Eduguide360