Daily Current Affairs 16th & 17th June, 2024
Daily Current Affairs 16 & 17 June 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
Ministry of New and Renewable Energy organises ‘Global Wind Day 2024’ event with a central theme of “Pawan-Urja: Powering the Future of India”
- The Ministry of New and Renewable Energy (MNRE) organised ‘Global Wind Day’ on the 15th of June 2024, aimed at celebrating the glorious success of Indian Wind Sector so far and also discussing the potential way forward for accelerating wind energy adoption in India.
- With a central theme of “Pawan–Urja: Powering the Future of India”, the event successfully conducted panel discussions around the ‘Role of Wind Energy in Meeting the Power Demand’, ‘Accelerating Onshore Wind Energy Adoption in India’ and ‘Offshore Wind Development in India: Bolstering India’s Energy Security’.
- India has a history of wind energy generation spanning more than four decades. With a cumulative installed wind power capacity of 46.4 GW by May 2024, it has progressed to become the fourth largest in the world.
- Wind energy is crucial to India’s efforts in achieving 50% of its electric power installed capacity from non-fossil fuel-based energy resources by 2030 and net zero by 2070.
J&K: Mela Kheer Bhawani Being Celebrated With Fervor At Tulmulla
- In Jammu and Kashmir, thousands of Kashmiri Pandits thronged the revered Kheer Bhawani temple dedicated to Ragnya Devi in Tulmulla area of Ganderbal district on the occasion of Mela Kheer Bhawani festival which is being celebrated with religious fervor.
- Nestled in the shade of mammoth Chinar trees, the temple witnessed massive crowds of devotees, who had come from various parts of the state and outside the state.
- This year, an estimated 80 thousand migrant Kashmiri Pandits from various parts of India and abroad are expected to visit the five renowned temples in the Valley during the annual fair. This is the biggest festival of Hindus in Kashmir after Amarnath yatra and holds immense significance in J&K.
Jammu & Kashmir Elevates Agricultural Partnership With New Zealand
- In a major advancement in the agricultural sector, Jammu & Kashmir has broadened its existing Memorandum of Cooperation (MoC) with New Zealand into a full fledged strategic agreement.
- The partnership taps into New Zealand’s globally recognized strengths in breeding technology, sustainable farm management and advanced disease control measures within the sheep sector.
- The collaboration is set to transform and revitalize both the sheep and goat sectors in the Union Territory through comprehensive training initiatives besides innovative and sustainable practices.
Assam government introduces monthly monetary support for girl students to combat child marriage
- The Assam government, led by Chief Minister Himanta Biswa Sarma, started the Mukhya Mantri Nijut Moina (MMNM) to provide monetary benefits to girl students every month.The Assam government has allocated Rs. 1,500 crore over five years for the MMNM scheme, with an initial budget of Rs. 300 crore for the first year.
- This was a big step to help girls go to school and stop them from getting married young. Through a structured financial aid scheme, this project aims to give female students more power.
- For students enrolled in Higher secondary education will receive Rs. 1,000 per month , for students enrolled in Graduation will recieve Rs. 1,250 per month, for students enrolled in Post Graduation will get Rs. 2,500 per month under Pragyan Bharati scheme with Nijut Moina scheme.
INTERNATIONAL NEWS
G7 leaders agree to $50bn loan for Ukraine at annual summit
- G7 nations have agreed upon a $50bn deal to fund Ukraine through profits on frozen Russian assets, Italian Prime Minister Giorgia Meloni has said.
- The G7 plan for Ukraine is based on a multiyear loan using profits from some $300bn of impounded Russian funds. Each G7 country will contribute to the loan package, European Commission President Ursula von der Leyen said.
- The issue is complicated, however, because if the Russian assets one day are unfrozen, then the windfall profits will no longer be able to be used to pay off the loan.
India is world’s second-highest nitrous oxide emitter globally: Report
- India is the world’s second largest source of nitrous oxide (N2O), a greenhouse gas that heats up the atmosphere far more than carbon dioxide. Nearly 11% of such global man-made emissions in 2020 were from India, topped only by China at 16%.
- The report titled “Global Nitrous Oxide Budget 2024”, led by researchers from Boston College and published in the journal Earth System Science Data, says the uncontrolled use of nitrogen fertilisers and animal manure in agricultural production contributed 74% of the total anthropogenic nitrous oxide emissions in the last decade.
- The concentration of atmospheric N2O reached 336 parts per billion in 2022, the study notes, or about 25% above the levels seen before the industrial age. In comparison, the concentration of carbon dioxide, the predominant greenhouse gas after water vapour was 417 parts per million in 2022.
- The top five emitters by volume of anthropogenic nitrous oxide emissions in 2020 were China (16.7%), India (10.9%), USA (5.7%), Brazil (5.3%), and Russia (4.6%).The per capita emissions (Kg N2O/person) for the top five emitters are 1.3 (China), 0.8 (India), 1.7 (USA), 2.5 (Brazil), and 3.3 (Russia).
- Anthropogenic nitrous oxide emissions from four emerging economies have more than doubled to 135% (China), 157% (India), 131% (Brazil) and 117% (Turkey) relative to 1980. Direct nitrogen additions in agriculture are the main cause of the increase.
Mumbai, Delhi luxury real estate among top 5 globally: Knight Frank
- Mumbai and Delhi have emerged as top performers in the global luxury real estate market, according to Knight Frank’s recent report, “Prime Global Cities Index January-March 2024”. Both cities recorded significant increases in house prices, positioning them among the top five global cities for prime residential price growth.
- Mumbai saw a year-on-year (YoY) growth of 11.5% in prime residential prices during the January-March 2024 quarter, placing it third globally, up from sixth in the same period in 2023.
- The National Capital Region (NCR) of Delhi experienced a 10.5% YoY rise in house prices, moving up to fifth place from seventeenth in the previous year.
- In contrast, Bengaluru dropped from 16th to 17th in the rankings, despite a 4.8% YoY growth in residential prices.
- Manila led the index with a 26.2% increase in prices, followed by Tokyo, which saw a 12.5% rise. Tokyo’s significant growth is attributed to favorable mortgage terms and increased foreign investment.
Armenia to quit Russia’s military alliance amid split with Putin
- Armenia’s Prime Minister Nikol Pashinyan confirmed that his country would pull out of the Collective Security Treaty Organization (CSTO), amid a widening rift with Moscow.
- The CSTO is a Russia-dominated alliance of former Soviet states that have pledged to protect one another in the event of an attack.
- Pashinyan accused members of the alliance of siding with Azerbaijan which launched a military campaign in September to seize control of the Nagorno-Karabakh region, ending decades of ethnic Armenian separatist rule.
- Russia had acted as guarantor of a peace deal that ended a 44-day war with Azerbaijan over the disputed territory three years ago however Azerbaijan’s larger army was able to capture the disputed territory.
BANKING & FINANCE
Finance Ministry caps dispute value at ₹10 crore for arbitration
- In order to streamline arbitration process to resolve commercial dispute having government or PSE is one party, Finance Ministry has set an upper limit of ₹10 crore for cases to be brought in. It has also said that arbitration clause should not be automatically included in large contracts.
- This move aims to mitigate the perceived challenges of lengthy proceedings and potential misconduct among arbitrators. The Ministry also advises against automatically including arbitration clauses in large government contracts, emphasizing mediation and judicial adjudication as viable alternatives.
- This decision underscores concerns about the cost and duration of arbitration, as well as issues related to the integrity of arbitral processes. The directive urges ministries and states to refrain from mandating arbitration in large-scale procurements, advocating instead for more judicious contract management practices.
ATM operators seek Rs 2 hike in interchange fee for viability
- ATM users will soon have to pay more to carry out cash transactions. The Confederation of ATM Industry (CATMI) has addressed the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to urge a rise in the interchange fee.
- CATMI aims to increase the ATM withdrawal fee to a maximum of Rs 23 per transaction. The card-issuing bank pays interchange fees to the bank from which the card is used to withdraw cash. In 2021, the fee was hiked from Rs 15 to Rs 17, and the upper limit for the charge was set at Rs 21.
- Banks charge a fee for cash and non-cash ATM transactions if a customer exceeds the free monthly limit. To date, if the free monthly ATM withdrawal limit is exceeded, the bank charges an extra Rs 21 tax for each transaction that customers pay.
- Banks now provide savings account users a minimum of five free transactions each month in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, and New Delhi. Three transactions at any other bank’s ATM are free.
BUSINESS & ECONOMY
India reclaims fourth-biggest global equity market tag from Hong Kong
- In a new feat, India has reclaimed the fourth-biggest global equity market tag from Hong Kong. The country’s market capitalisation soared 10 per cent to reach $5.2 trillion (BSE-listed companies). The US($56.4 trillion) retained it’s position as the largest global equity market. It was followed by China and Japan.
- In comparison, Hong Kong’s equity market cap is $5.17 trillion, down 5.4 per cent from the high of $5.47 trillion this year. On a price-to-book basis, India trades at 3 times, while Hong Kong is at just one time.
Tata Communications secures five-year contract with World Athletics
- Tata Communications has signed a five-year contract with global sports organization World Athletics as the latter’s technology broadcast partner across the globe.
- This partnership marks Tata Communications as a pivotal supplier, committed to innovation and audience engagement. The collaboration aims to elevate viewer experience with immersive coverage and customized live content delivery across continents.
- Under this partnership, Tata Communications will serve as the host broadcaster for highlighted events such as the World Athletics Indoor Championships in Nanjing, the World Athletics Relays in Guangzhou, and the World Athletics Road Running Championships in San Diego, all scheduled for 2025.
Wipro launches Lab45 AI platform aimed at increasing efficiencies to transform business functions
- Information technology company Wipro announced the launch of the Lab45 Artificial Intelligence (AI) platform, which leverages Generative AI (Gen AI), machine learning (ML), and deep learning technologies to enable companies to enhance efficiencies, transform business functions, and enable industry-specific solutions.
- Lab45 is Wipro’s Innovation Lab and the Lab45 AI platform is available to all Wipro employees and clients. The platform allows seamless integration of language and visual processing for generating images from text prompts, as well as the ability to index, parse, and summarise content.
- With over 1,000 Gen AI agents and more than 10 Gen AI applications, the Lab45 Artificial Intelligence platform offers no code and low code pre-built applications in areas such as human resource (HR), sales, marketing, and operations functions.
SPORTS
Motie and Athapaththu named ICC Players of the Month for May
- The International Cricket Council (ICC) has revealed the winners of the ICC Player of the Month awards for May 2024 as Gudakesh Motie of the West Indies and Chamari Athapaththu of Sri Lanka.
- The left-arm spinner played a pivotal role in the West Indies’ impressive series win over touring South Africa, providing a promising build-up to the ICC Men’s T20 World Cup 2024. He becomes the second West Indian to win the men’s award, following in the footsteps of his teammate Shamar Joseph, who was crowned in January.
- The Sri Lankan captain’s outstanding performances propelled her team to qualify for the ICC Women’s T20 World Cup 2024 in Bangladesh later this year. This marks Athapaththu’s second ICC Women’s Player of the Month accolade, having previously won the award in September 2023. Her remarkable form continues as she recently claimed the ICC Women’s ODI Cricketer of the Year for 2023.
AWARDS
‘Lal’, ‘Mursan’ & ‘Hilsa’: Three Mars craters named after Indian physicist Devendra Lal, towns in UP, Bihar
- Three recently discovered craters on the surface of Mars have been named for renowned cosmic ray physicist late Devendra Lal and the towns of Mursan and Hilsa in northern India.
- While the discovery was made by a team of scientists which included researchers working at the Physical Research Laboratory (PRL)Ahmedabad in 2021, the naming was approved by an international body earlier this month.
- The three craters are situated in the Tharsis volcanic region of the Red Planet, said the Ahmedabad-based PRL, a unit of the Department of Space of the Government of India.
Renowned Wildlife Filmmaker Shri Subbiah Nallamuthu announced as winner of V. Shantaram Lifetime Achievement Award at 18th MIFF
- Wildlife filmmaker Subbiah Nallamuthu received the prestigious V Shantaram Lifetime Achievement Award at the 18th Mumbai International Film Festival.
- He has won several national and international awards including the five National Film Awards. He is a regular jury member of the Jackson Hole Wildlife Film Festival and has also served as the jury chairman of the Indian Panorama at IFFI 2021.
- The 18th edition of the Mumbai International Film Festival kicked off with the screening of the documentary ‘Billy and Molly: An Otter Love Story’. The film was screened simultaneously in Delhi, Chennai, Kolkata and Pune.
- There are a total of 314 films in the MIFF this year from 59 countries across 61 languages. Noted international filmmakers will take part in more than 25 masterclasses, panel discussions and open forums on the curated topics.
Indian Railways enters its name into Limca Book of Records
- Indian Railways has entered its name into Prestigious Limca Book of Records for most people at a public service event at multiple venues.
- Ministry of Railways organized an event on 26 February 2024 which was attended by 40,19,516 people at 2,140 venues.
- The event was organized for the inauguration of road over / road under railway bridges and for laying the foundation stones of railway stations by Prime Minister Shri Narendra Modi.
- The mammoth effort and mobilization of Indian Railways has been recognized and the same has entered into Prestigious Limca Book of World Records.
2024 Kavli Prize Awarded In Astrophysics, Nanoscience And Neuroscience
- The Norwegian Academy of Science and Letters has announced the 2024 Kavli Prize Laureates in the fields of astrophysics, nanoscience and neuroscience.
- This year, eight scientists were selected for the Kavli Prize for outstanding research that has broadened our understanding of the big, the small and the complex. The laureates in each field will share a $1 million prize.
2024 Kavli Prize winner list:
- The 2024 Kavli Prize in Astrophysics was awarded to Sara Seager and David Charbonneau for discoveries of exoplanets and the characterization of their atmospheres.
- Three Americans were jointly awarded the Prize in Nanoscience. Robert S. Langer, Armand Paul Alivisatos, and Chad A. Mirkin were recognized as pioneers “whose breakthroughs have combined nanostructured synthetic materials.
- Nancy Kanwisher, Winrich Freiwald, and Doris Tsao were awarded the Kavli Prize in neuroscience for their discovery of a localized and specialized area of the brain responsible for facial recognition.
SCIENCE & TECHNOLOGY
Chang’e-7 mission: Egypt, Bahrain join China to build hyperspectral camera
- Egypt and Bahrain have joined China as international partners to develop and deliver scientific instruments for the Chang’e-7 mission, the Chinese lunar mission aimed at searching for water ice at the moon’s South Pole in 2026.
- Recently, the Egyptian Space Agency, Bahrain’s National Space Science Agency, and the Changchun Institute of Optics, Fine Mechanics and Physics signed a cooperation agreement for the joint development of a hyperspectral camera.
- The hyperspectral camera, developed collaboratively by Egypt and Bahrain with assistance from Chinese engineers, is one of six international payloads chosen by the CNSA for the Chang’e-7 lunar Mission. The China National Space Administration (CNSA) announced that the camera will image and analyse lunar surface materials from orbit, including the Moon’s polar regions.
- The remaining five payloads will be provided by Thailand, Russia, Italy, Switzerland, and the International Lunar Observatory Association, a Hawaii-based non-governmental organisation.
BOOKS & AUTHORS
Book “A Fly on the RBI Wall” by Alpana Killawala
- The book titled “A Fly on the RBI Wall: An Insider’s View of the Central Bank” written by Alpana Killawala has been released recently.
- This book offers an insightful glimpse into her journey and the institution’s transformation over 25 years.
- The book delves into the RBI’s evolution over the last 25 years, highlighting significant changes as India embarked on its journey of economic and trade reforms. Alpana’s narrative details how the RBI adapted to these changes, positioning itself as a key player in the country’s economic landscape.