The 18th edition of the Mumbai International Film Festival for Documentary, Animation, and Short Films (MIFF) being held in Mumbai from 15th to 21st June 2024 

Highlights of the festival

1. Minister of State for Information and Broadcasting L Murugan, and film celebrities Randeep Hooda, Madhur Bhandarkar, Sonali Kulkarni and Divya Dutta were present at the inauguration.
2.  As part of the opening ceremony, the FTII student short Film “Sunflowers were the first ones to know” was screened. 
3. The V. Shantaram, Lifetime Achievement Award for 2024 was presented to Subbiah Nallamuthu, a renowned, award-winning Wildlife filmmaker. 
4. A total of 314 films from 59 countries across 61 languages will be screened in the MIFF programming this year. There will be 8 world premieres, 5 international premieres, 18 Asia premieres and 21 India Premieres. 
5. This year apart from Films Division- NFDC in Mumbai, MIFF screenings are also being held in Delhi (Sirifort Auditorium), Chennai (Tagore Film Centre), Pune (NFAI auditorium) and Kolkata (SRFTI Auditorium).

Vellayan Subbiah, Executive Vice Chairman of Tube Investments of India (TII) and Chairman of Cholamandalam Investment and Finance Co Ltd., has been honoured with the prestigious EY World Entrepreneur Of The Year 2024 award.

• Subbiah, the fourth Indian recipient of this accolade, joins previous winners NR Narayana Murthy, Uday Kotak, and Kiran Mazumdar-Shaw.
• With this achievement, India has become the only country among EY regions to secure the global entrepreneurship award four times.
• Subbiah was previously awarded the EY Entrepreneur of the Year for India in 2023. Holding a Bachelor of Technology in Civil Engineering from IIT Madras and a Master of Business Administration from the University of Michigan, USA,
• Subbiah’s career began as an engineer before transitioning to strategic consultancy. 

India’s largest lender, State Bank of India (SBI), has announced a significant capital-raising initiative, with plans to secure up to $3 billion through debt in the current financial year.

• This decision, approved by the bank’s board, was disclosed in an exchange filing.
• The funds will be raised in multiple tranches through a public offering or private placement of senior unsecured notes, denominated in US dollars or other major foreign currencies.
• Other state-run banks, including Canara Bank, Punjab and Sind Bank, and Punjab National Bank, are also planning similar debt-raising measures this fiscal year.
• In January, SBI successfully raised 50 billion rupees (approximately $600 million) through the issuance of Basel III-compliant additional tier-I perpetual bonds.

State Bank of India (SBI), the nation's largest bank, has once again set a new standard in MSME lending with the launch of ‘SME Digital Business Loans’.

• MSME advances have been identified as the focal point for the Bank’s growth and profitability over the next five years and this innovative product marks a significant leap forward in digitalization by offering SMEs a digital loan journey with an end-to-end sanction turnaround time of up to 45 minutes.
• SME Digital Business Loans leverages cutting-edge technology and a robust ecosystem of APIs to streamline the lending process.
• Utilizing authentic data footprints from sources such as ITR, GST returns, and bank statements, the Bank has developed a data-driven credit assessment engine capable of providing sanction decisions within a remarkable 10 seconds after submitting the required details, without any human intervention.

• This strategic move is anticipated to enhance engagement with industry stakeholders, private and public sector companies, as well as financial institutions in the region, thereby bolstering trade and investment between India, Kenya, and the broader East African region.
• Merchandise trade between India and East Africa has experienced notable growth over the past decade, increasing from USD 9.7 billion in 2013 to USD 12.9 billion in 2022.
• India's exports to East Africa rose from USD 8.6 billion in 2013 to USD 9.4 billion in 2022, highlighting the robust economic ties between the two regions.

Ajit Doval to continue as National Security Advisor (NSA)  for the third term. PK Mishra will also continue as the Principal Secretary to Prime Minister Narendra Modi.

• Both Doval and Mishra worked on their respective crucial posts during the last two tenures of the governments headed by Modi.
• With the fresh appointment, Doval has become the first NSA to be appointed to the key post for three consecutive terms. 
• Both Doval and Mishra will be assigned the rank of Cabinet Minister in the Table of Precedence and terms and conditions of their appointment will be notified separately, the ministry said. 
• Ajit Doval's appointment will be co-terminus with the term of Prime Minister Narendra Modi or until further orders,  according to an official order.

Indian Navy's indigenous Stealth Frigate INS Shivalik arrived at Yokosuka, Japan to participate in the bilateral Japan – India Maritime Exercise 2024 (JIMEX 24). This is the eighth edition of JIMEX, since its inception in 2012.

• The ship was accorded a warm welcome by VAdm ITO Hiroshi, Commander JMSDF Yokosuka District & Ambassador Sibi George, Ambassador of India to Japan.
• The exercise includes both harbour and sea phases.
• The harbour phase will comprise professional, sports and social interactions, after which the two navies will jointly hone their war fighting skills at sea and enhance their interoperability through complex multi-discipline operations in the surface, sub-surface and air domains.
• The IN is being represented by INS Shivalik and the JMSDF is being represented by the Guided Missile Destroyer JS Yugiri. Integral helicopters from both navies will also participate in the joint exercise.

Nokia CEO Pekka Lundmark made a phone call using a new technology called “immersive audio and video” that improves the quality of a call with three-dimensional sound, making interactions more lifelike, the company said.

• Current smartphone calls are monophonic which compresses audio elements together and sound flatter and less detailed, but the new technology will bring 3D audio where a caller will hear everything as if they were there with the other person.
• The call was held with Stefan Lindström, Finland’s Ambassador of Digitalisation and New Technologies.
• Nokia made the call using a regular smartphone over a public 5G network.

The Indian Navy marked a significant milestone on June 7, 2024, welcoming its first-ever woman naval helicopter pilot, Sub-Lieutenant Anamika B. Rajeev.

• This achievement signifies a major step forward for the Navy’s commitment to gender inclusivity and expanding career opportunities for women in the force.
• The momentous occasion took place during a passing-out parade held at INS Rajali Naval Air Station in Arakkonam, Tamil Nadu.
• Sub-Lieutenant Rajeev graduated alongside 20 other officers, all receiving their coveted “Golden Wings” from Vice Admiral Rajesh Pendharkar, the Flag Officer Commanding-in-Chief of the Eastern Naval Command.

A tech-based innovation -- an integrated generator monitoring, protection and control system -- developed by the Indian Army was launched on Monday( 10 June 2024)

'Vidyut Rakshak', developed by the Army Design Bureau (ADB) was launched here by the Army's Vice Chief Lt Gen Upendra Dwivedi.

Army Chief Gen Manoj Pande, in his message, appreciated the ADB and said, "While the Indian Army is observing the 'Year of Tech Absorption', this milestone success of Vidyut Rakshak from 'innovation to induction' sets precedence and signifies Indian Army's commitment and efforts to leverage technology as a catalyst for transformative change."

The Indian Army has reviewed the Agnipath scheme and has made several recommendations to improve it.

• These include increasing the percentage of Agniveers, who join regular service after completing 4 years, from the current 25 percent to 60-70 percent.
• The Indian Army suggested increasing the service period from 4 years to 7-8 years.
• Additionally, they recommended increasing the entry age for Agniveers in the technical field to 23 years.
• They also suggested that ex-gratia should be provided for disability during training and that exit management should be handled by a professional agency.
• Moreover, if an Agniveer dies in war, their family should receive a subsistence allowance.

The University Grants Commission (UGC) has allowed higher education institutions to admit students twice a year.

While earlier regulations allowed students to be admitted only during July-August, the UGC’s recent decision means that students can now be admitted in January/February and in July/August during the upcoming academic session.

The UGC’s decision now leaves it to the institutions to decide if they want to offer admissions in both cycles or just one, and this will depend on their infrastructure and faculty.

The UGC has said that biannual admissions are not mandatory, but the decision now provides “flexibility” to institutions that might want to “increase their student intake and offer new programmes in emerging areas.”

The Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur has partnered with the Centre of Excellence for Capacity Building, Training, and Design of Unmanned Aerial Vehicles at IIT Kanpur (Drone CoE Kanpur)—an initiative by the Government of Uttar Pradesh—and the Drone Federation of India (DFI) to launch the UAV/UAS/Drone Acceleration and Networking (UDAAN) Program.

This program aims to revolutionize the landscape for aspiring and promising drone startups in India by equipping them with the resources and expertise necessary for rapid business growth.

Annually, the UDAAN program will select 20 startups, split into two cohorts, for an intensive acceleration journey. These startups will be incubated at SIIC, IIT Kanpur, where they will have access to state-of-the-art R&D facilities, technical mentorship, financing opportunities, and invaluable industry connections.

The Department of Expenditure under the Ministry of Finance, Government of India, has recently released guidelines delineating the use of arbitration and mediation in domestic public procurement contracts.

The guidelines recommended the restriction of arbitration to disputes with a value less than Rs. 10 crore.

Further, it states that government departments/ entities/ agencies should adopt mediation under the Mediation Act, 2023 and/ or negotiate amicable settlements for resolution of disputes.

The federal agency has issued an order on June 3 under Section 13 of the Prevention of Money Laundering Act (PMLA) that empowers its Director to impose a monetary penalty on a reporting entity (like Axis Bank) if the agency finds that its designated director on the board or any of its employees failed to comply with the obligations mandated under the said law.

About FIU

The FIU, under the Union Finance Ministry, is an agency entrusted with implementing certain sections of the anti-money laundering law like the Enforcement Directorate (ED). It (FIU) conducts examination of steps taken to check money laundering and other financial frauds, by banks and other financial institutions designated as 'reporting entities' under the PMLA, in the financial channels of the country.

World Wind Day is an important event for raising awareness about wind energy and its diverse uses. This particular day serves as a reminder of wind power’s enormous potential and importance in combating climate change and supporting sustainable energy options.

This special day is observed around the globe on June 15 every year.

History of the day

The European Wind Energy Association (EWEA) hosted the first Wind Day in 2007, ushering in this historic event. However, in 2009, the EWEA collaborated with the Global Wind Energy Council (GWEC) to develop Wind Day into a global celebration, broadening its reach and effect around the world.

Global Wind Day 2024 in 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’.

World Elder Abuse Awareness Day is held on June 15th and is an annual international UN observance day on the same date each year. 

The aim of WEAAD is to provide an opportunity for communities around the world to promote a better understanding of abuse and neglect of older persons by raising awareness of the cultural, social, economic and demographic processes affecting elder abuse and neglect.

This year's World Elder Abuse Awareness Day (WEAAD), with the theme "Spotlight on Older Persons in Emergencies," emphasizes the urgent need to protect and support older individuals during crises. 

World Blood Donor Day, celebrated on June 14th each year, marks a vital occasion to recognize and appreciate the invaluable contributions of blood donors. In 2024, this day holds special significance as it marks the 20th anniversary of World Blood Donor Day.

Theme for this years'  World Blood Donor Day is “20 Years of Celebrating Giving: Thank You Blood Donors!“. 

History of the day

According to WHO, “The first World Blood Donor Day was observed in 2004, which was followed by its designation as an annual global event by the fifty-eighth World Health Assembly in 2005.” Since then, it has been celebrated each year on June 14th to recognize the life-saving role of voluntary blood donors.

The World Day Against Child Labour is observed on June 12, 2024. We are going to celebrate the 25th anniversary of the occasion this year. It was adopted in the year 1999

• The official theme for World Day Against Child Labour 2024 is “Let’s act on our commitments: End Child Labour!”.
• This day presents a vital opportunity to raise awareness, advocate for change, and contribute towards a future free from child labour.
• This year's World Day will focus on celebrating the 25th anniversary of the adoption of the Worst Forms of Child Labour Convention (1999, No. 182). 

International Archives Day is observed on June 9 every year intended to raise awareness of the importance of records and archives, in order to make it understood that they provide the foundation for people's rights and identity.

• It commemorates the day the International Council on Archives (ICA) was created in 1948.
• On International Archives Day, archives all over the world host special events to show off their collections or the work that they do, and also share stories with each other and with fans of archives worldwide.
• International Council on Archives (ICA), a non-governmental organisation, promotes and strengthens cooperation among archivists and institutions around the world, to preserve archival records and to ensure their availability and accessibility to the public. It comprises about 1400 members in 199 countries and territories. The ICA collaborates closely with the Council of Europe, UNESCO and many other important NGOs.

India’s headline retail inflation eased to the lowest in a year at 4.75 percent in May 2024, data released by the statistics and programme implementation ministry on June 12 showed.

In a bid to enable state governments to accelerate development and capital spending, the BJP-led NDA government released one additional instalment of devolution of taxes, cumulatively amounting to Rs. 1,39,750 crore this month.

• The Interim Budget 2024-25 had a provision of Rs. 12,19,783 crore towards devolution of taxes to states.
• With this release, the total amount devolved (for FY 2024-25) to states till June 10 stands at ? 2,79,500 crore. 
• Uttar Pradesh got the highest amount at Rs. 25,069.88 crore, followed by Bihar at Rs. 14,056.12 crore. Madhya Pradesh is third with Rs. 10,970.44 crore and West Bengal fourth at Rs.10,513.46 crore.
• The Centre in February released Rs.1.42 lakh crore in tax devolution to the states, supplementing the Rs. 72,961 crore disbursed earlier in the same month.

Ambuja Cements, the leading Adani Group company, announced the acquisition of 100 per cent stake in Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs 10,422 crore, as the cement and building material major aims to reach its target capacity of 140 MTPA (million tonnes per annum) by 2028.

Ambuja Cements would acquire the 100 per cent stake from Hyderabad-based PCIL promoter group P. Pratap Reddy and family.

The acquisition, to be funded by internal accruals, will improve Adani Cement’s market share pan-India by 2 per cent and by 8 per cent in south India.

In a move to boost innovation in textiles, the Centre approved grants of Rs 50 lakh each for seven startups in the technical textiles sector on Thursday under the government’s National Technical Textiles Mission (NTTM). National Technical Textiles Mission was approved in 2020 by the Cabinet Committee on Economic Affairs (CCEA) with total outlay of Rs.1480 Crore.

• The grants have been approved under the NTTM’s Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) scheme. 
• GREAT supports individual entrepreneurs or startups for functional prototypes or commercialisation of their technologies in Technical Textiles.
• It may be noted that the textile ministry aims to support 150 startups to promote innovations in technical textiles. 
• To date, eight startup proposals have been approved under the scheme.

Apple reclaimed its position as the world's most valuable company, surpassing Microsoft, on Wednesday( 12 June 2024). Apple's shares rose over 2 per cent to $211.75, resulting in a market valuation of $3.25 trillion.In comparison, Microsoft's market capitalization fell to $3.24 trillion, placing it behind Apple for the first time in five months. 

• The surge in Apple's stock followed the company's unveiling of AI-enabled features and software enhancements for its devices, which analysts believe will boost iPhone sales.
• This announcement came during Apple's annual developer conference on Monday, where CEO Tim Cook and other executives highlighted improvements, including Siri's enhanced interaction capabilities with messages, emails, calendars, and third-party apps.

Visakhapatnam Port gets into the top 20 rankings in World Bank’s Container Port Performance Index.

• The terminal operator Visakha Container Terminal Private Ltd (VCTPL) achieved this remarkable milestone by securing 18th place in the World Bank Container Port Performance Index (CPPI).
• The CPPI focuses exclusively on quayside performance measuring operational efficiency of how ports receive and handle container ships.
• This measure is critically important for the customer to decide which port/terminal to choose over other options. Port efficiency and ship turnaround time at the port of call are important metrics for operators.

Coca Cola, the renowned beverage company, is set to expand its manufacturing capacity with a new greenfield plant in Telangana's Peddapalli district, investing Rs 700 crore.

The plant will be established by Hindustan Coca Cola Beverages (HCCB), the company's wholly owned bottling arm, which has already identified potential sites for the facility.

During discussions with a delegation including Industries and IT Minister D. Sridhar Babu and R&B and Cinematography Minister Komatireddy Venkatreddy at Coca Cola's headquarters in Atlanta, United States, Head of Fiscal Policy Jonathan Rief and other senior executives shared plans for the new plant.

GAIL (India) has announced its intention to set up 1500 kilotons per annum (KTA) Ethane Cracker Project at Ashta, Distt.  Sehore in Madhya Pradesh, having product slate of various ethylene derivatives.  

The projected investment for the project is Rs. 60,000 crore and the mode of financing is yet to be decided.

Around 800 hectares of land shall be provided by the MP Industrial Development Corporation Limited, for which state government has already initiated the process.

The Bangladesh government has appointed Lieutenant General Waker-Uz-Zaman as the new army chief of Bangladesh, effective from June 23, the Inter-Services Public Relations (ISPR) announced.

With this appointment, he will be promoted to the rank of general. His tenure as the army chief will last for three years, according to the ISPR handout.

General SM Shafiuddin Ahmed assumed command of the Bangladesh Army as the 17th chief of army staff on June 24, 2021.

Lt Gen Waker-Uz-Zaman took on the duties of chief of general staff of the Bangladesh Army on January 1.

The United Nations has added Israel's military, Hamas and Palestinian Islamic Jihad's armed wing for the first time to its list of offenders for violating children’s rights.

• The three entities, along with Sudan's warring parties, have been singled out for the killing and maiming of children.
• The annual report - seen by the BBC and due to be released on Thursday - is meant to shame parties so that they commit to measures outlined by the UN to protect children.
• UN Secretary General António Guterres said the conflict between Israel and Palestinian groups has led to grave violations on an unprecedented scale and intensity, notably in Gaza.
• The report said the conflict in Gaza has led to a 155% increase in what it categorised as "grave violations" against children.
• The UN verified more than 8,000 grave violations against 4,247 Palestinian children and 113 Israeli children in 2023, the report said.

An aircraft carrying Malawi's Vice-President Saulos Chilima and nine others has gone missing, a statement from the president's office has said.

The Malawi Defence Force aircraft "went off the radar" after it left the capital, Lilongwe, on Monday morning, it added.

The plane was supposed to land at Mzuzu International Airport, in the country’s north, just after 10:00 local time (09:00 BST).

In a speech late on Monday, President Lazarus Chakwera said a search and rescue operation was continuing.

The World Bank will lend support to the Greater Chennai Corporation (GCC) to achieve sustainable waste management in the city.

The World Bank held discussions on solid waste management with officials of the State government and the GCC to stop waste dumping in Kodungaiyur by 2026-2027.

• In a bid to achieve sustainable waste management, the GCC intends to take initiatives to minimise the amount of solid waste that is disposed of on landfills or through incineration.
• The World Bank intends to improve solid waste management in the city and various parts of the State over a period of 20 years.
• It will also conduct a study of the status of solid waste management in the city. 
• The official of the civic body said that they will stop the dumping of waste in Perungudi two years after we achieve it in Kodungaiyur. 

The European Commission (EC) changed the requirements for getting a conservation grant through the NaturAfrica program on June 5, 2024.

• This was a big change that affected Tanzania in particular.
• This choice was written down in “CORRIGENDUM NO. 4” on the “EU Funding & Tenders Portal.”
• The update clearly leaves out activities in Tanzania, focusing instead on parts of Kenya for the Eastern Rift Savannahs and Watersheds (ERiSaWa) part of the program.
• Tanzania was removed, specifically in relation to the Eastern Rift Savannahs and Watersheds (ERiSaWa) component, with a focus shifting solely to Kenya.

State-owned Punjab National Bank plans to open a representative office in Dubai, as part of its plan to expand its global footprint.

The bank has got the board of directors' approval for opening a representative office in Dubai and the process is on for seeking regulatory clearance, told PNB managing director Atul Kumar Goel. 

Hopefully, he said, the representative office should come up during the current financial year, if all regulatory approvals are in place.

As on March 31, 2024, PNB had presence in six countries by way of two subsidiaries (London-UK and Bhutan), one joint venture (Nepal), two representative offices (Myanmar and Bangladesh).

SBICAP Ventures Limited (SVL) has appointed Prem Prabhakar as the new Managing Director and Chief Executive Officer, effective 4 June 2024. In his new role, Prabhakar will be responsible for overseeing the strategic direction, operational efficiency and overall growth of the company.

• He will lead the executive team, manage investor relations, and drive initiatives that align with SVL’s commitment to creating long-term value for its investors and supporting the communities in which it operates.
• Prabhakar brings over 24 years of extensive experience in the banking sector.
• Prior to this appointment, he served as General Manager at the State Bank of India (SBI).
• His notable assignments include serving as Deputy General Manager (B&O) managing retail business and operations, Chief Dealer (Forex) at SBI Global Markets, Mumbai and Chief Dealer at SBI New York. 

Competition Commission of India (CCI) has a new Secretary in Inder Pal Singh Bindra, an Indian Revenue Service (IRS) officer.  

• Bindra will replace Anupama Anand, who has resigned after being appointed in September 2023 for a period of 3 years.
• Prior to his appointment as CCI Secretary, Bindra was posted as an officer in the income tax department. He has now been appointed as CCI Secretary on deputation basis for three years. 
• The Centre had in September last year appointed Anupama Anand, an IRS officer, as the Secretary of the CCI, the country’s competition watchdog, for an initial period of three years that could later be extended to seven years. 

Retired American astronaut William Anders, who was a member of the Apollo 8 crew, was killed in a plane crash just off the San Juan Islands on Friday afternoon ( 7 June 2024).

Anders' son, retired Air Force Lt. Col. Greg Anders, confirmed the death to The Associated Press.

PNB MetLife India Insurance appointed Sameer Bansal as the Managing Director (MD) and Chief Executive Officer (CEO) of the company effective from July 1, 2024. The appointment is subject to regulatory approvals.

• He joined the firm in 2007 and is currently serving as the Chief Distribution Officer.
• He will succeed Ashish Srivastava, who has been appointed MD for MetLife Inc.’s Global Shared Services team in India.
• Bansal has over 25 years of experience in financial services, including extensive and successful experience in leading Distribution through Bancassurance, Agency, Digital, Employee Benefits and Direct marketing business models. 

The Smritivan Earthquake Memorial Museum in Gujarat’s Bhuj has earned global recognition by being listed as one of the world’s seven most beautiful museums by the prestigious Prix Versailles Award, presented annually by UNESCO.

The memorial museum, dedicated to the devastating 2001 Bhuj earthquake, was inaugurated by Prime Minister Narendra Modi in 2022.

It stands as a symbol of Gujarat’s resilience and transformation in the face of adversity.

Situated on Bhujio Hill and spanning 470 acres, Smritivan features the world’s largest Miyawaki forest with 500,000 trees. The site pays tribute to the 12,932 victims of the earthquake, with their names engraved on plaques across 50 check dams.

The mythological city of Joshimath in Uttarakhand has been officially renamed as Jyotirmath.

• The decision was announced by the state government after getting approval from the Centre.
• A year ago, Uttarakhand Chief Minister Pushkar Singh Dhami had announced to change the official name of Joshimath tehsil in Chamoli district to its historical title, Jyotirmath.
• The name change was initially proposed by local residents and several organisations during a ceremony held at Ghat in Chamoli district last year, where the decision to rename the ancient name of Jyotirmath back to it was formally announced.

The Securities and Exchange Board of India (Sebi) has slapped a fine of Rs 7.75 crore on 11 individuals for allegedly operating a 'pump and dump' scheme in scrip of Svarnim Trade Udyog .

• The markets regulator has also debarred them from the securities market and ordered disgorgement of Rs 92.37 lakh with 12 per cent annual interest.
• The pump and dump scheme was operated through recommendations shared through Telegram channels, resulting in public shareholders purchasing the stock at an inflated price.
• Two of the individuals penalised in the matter have also faced regulatory action in another pump and dump scheme and the restrain period for them will begin after the serving the ban in the previous order. 

India’s capital market regulator, the Securities and Exchange Board of India (SEBI), has been awarded the Asia-Pacific region’s “Best Conduct of Business Regulator” title, according to The Asian Banker.

• This prize, which was presented at a Hong Kong event, demonstrates the significance of SEBI in enhancing the regulations governing the Indian capital markets.
• On behalf of the organisation, SEBI Permanent Member Kamlesh Chandra Varshney accepted the prize.
• SEBI has implemented several key initiatives to boost the efficiency and reliability of the Indian stock market.
• One notable achievement is the introduction of the T+1 settlement cycle. Phased in starting in 2021 and fully operational by January 2023, this system significantly reduces the time for investors to access their funds post-trade, enhancing market liquidity and efficiency.

The Reserve Bank of India (RBI) proposed to revise the definition of bulk deposits, which would impact both traditional banks and Small Finance Banks (SFBs).

Under the proposed change, bulk deposits will now encompass single rupee term deposits of Rs 3 crore and above. 

The bulk deposit limit was enhanced in the year 2019 for Scheduled Commercial Banks (SCBs) (excluding Regional Rural Banks) and Small Finance Banks (SFBs) as Single Rupee term deposits of Rs 2 crore and above. 

The Reserve Bank of India (RBI) has set up a committee with industry participation to help build a digital public infrastructure platform specialised to tackle the issue of frauds under the chairmanship of Abhaya Hota.

The committee will also suggest means through which the platform will check frauds in the digital payments ecosystem and suggest fraud mitigation measures, they said.

Abhaya Hota played a key role in transforming India into a digital economy as the first chief executive officer of National Payments Corporation of India (NPCI).

Three craters on the surface of Mars were recently discovered by a team of scientists. The craters are in the Tharsis volcanic region of Mars, as confirmed by scientists at the Physical Research Laboratory (PRL) in Ahmedabad in a press release on Wednesday(12 June 2024)

• The two craters are named after the northern Indian towns of UP, Mursan and Hilsa, and the other one is named for the late professor and physicist Devendra Lal, who led the planetary institution from 1972 to 1983.
• The international body gave its approval to this name on June 5. 
• "Lal," "Mursan," and "Hilsa" are the names of the craters that have been approved by the Working Group for Planetary System Nomenclature of the International Astronomical Union (IAU).

Peru and Slovakia signed the Artemis Accords outlining best practices for responsible space exploration, bringing the number of countries who have signed to 42.

• In separate ceremonies at NASA Headquarters May 30, Peru’s foreign minster, Javier González-Olaechea, and Tomáš Drucker, Slovakia’s minister of education, research, development and youth, signed the Artemis Accords alongside NASA and U.S. State Department officials.
• Peru, a country with limited space capabilities, emphasized how signing the Artemis Accords could open doors for the country. 
• Peru signaled its intent to sign the Accords at a U.S.-Peru High-Level Dialogue meeting May 9, according to a State Department statement, which also noted that Peru committed not to conduct direct-ascent anti-satellite missile tests.

Space agency ISRO has announced a joint Indo-French infrared earth observation satellite mission, TRISHNA (Thermal Infra-Red Imaging Satellite for High-Resolution Natural Resource Assessment), to monitor surface temperature and water management around the world.

• The project, which comes when both India and Europe have been assailed by extreme heat, will provide data points for climate impacts on earth through evapotranspiration monitoring, which measures the evaporation of water from land as well as release from plants.
• The mission will study water presence and concentrations, as well as dynamics including melting glaciers, in various parts of the biosphere, quantifying water being used on land and how.
• ISRO said for heat, the satellite will monitor thermal anomalies and spikes, emission of heat from land, surface energy, urban heat islands, and other global parametres.

Bill Gates, the co-founder of Microsoft, has given the world a sneak peek into his upcoming memoir, titled 'Source Code’. 

• This memoir, unlike his previous works, will focus on his early life, tracing his journey from a misfit child to the creation of Microsoft.
• ‘Source Code’ is set to be an intimate portrayal of Gates’ life, encompassing his childhood in Seattle and the stories of his family. 
• The memoir will also reveal the more challenging aspects of his life, such as his struggles to fit in during his childhood, the sudden loss of a close friend, and his near expulsion from college.

International Master (IM) Divya Deshmukh won the World U-20 Junior Chess Championship held in Gandhinagar in Gujarat on Thursday( 13 June 2024).

• Deshmukh beat Bulgarian Grand Master Beloslava Krasteva in the summit clash and bagged 10 points out of a possible 11 to make it a second win in a row after clinching the Sharjah Challengers back in May.
• The 18-year-old hails from Nagpur in Maharashtra and has been a rising star in the chess circuit for the last few years.
• Her live ranking currently as per FIDE standings is 2456.

Kazybek Nogerbek, a 20-year-old chess player from Kazakhstan, triumphed over 13 grandmasters (GM) to win the International Chess Federation (FIDE) World Junior Chess Championship 2024, held from June 2 to 13 in Gandhinagar, India, reported the Kazakhstan Chess Federation’s press service.

• Nogerbek scored 8.5 points in 11 rounds, finishing on better tiebreaks than GM Emin Ohanyan from Armenia.
• The Kazakh prodigy secured the gold medal and received a ticket to the World Cup, a significant step towards vying for the world champion title in the candidates tournament.
• This year, the FIDE World Junior Chess Championship Under 20 years (U20) brought together 123 participants, including 13 GMs and 28 international masters (IMs).

In a historic achievement for Indian equestrian sports, Shruti Vora, astride Magnanimous, has become the first Indian rider to win a three-star Grand Prix event.

• Shruti scored 67.761 points in the CDI-3 event held in Lipica, Slovenia, from June 7 to 9.
• The Indian finished ahead of Moldova’s Tatiana Antonenco (Aachen), who scored 66.522.
• Austria’s Juliane Jerich (Quarter Girl) completed the top three with a score of 66.087.
• Hailing from Kolkata, Shruti has represented India in the Dressage World Championship (2022) and the Asian Games (2010, 2014).

India will host the FIH Hockey Men’s Junior World Cup in December 2025, the International Hockey Federation (FIH) announced on Tuesday ( 11 June 2024).

• The tournament, set to feature 24 teams for the first time, will be the 14th edition of the Junior Hockey World Cup.  
• The most recent edition of the FIH Hockey Men’s Junior World Cup was held in Kuala Lumpur in Malaysia in 2023.
• This will be the fourth time India will host the Junior hockey World Cup.
• The 2013 edition was held in New Delhi while Lucknow and Bhubaneswar played hosts in 2016 and 2021, respectively.

Oympic champion Ariarne Titmus shattered the women’s 200m freestyle world record at the Australian Olympic trials in Brisbane on Wednesday.( 12 June 2024), which was part of Australia’s Olympic swimming tryouts.

• Titmus clocked 1:52.23 and surpassed compatriot Mollie O’Callaghan’s previous record of 1:52.85 from the World Championships in Fukuoka.
• This impressive feat secures Titmus a spot in her second event at the Paris Olympics 2024, following her victory in the 400m freestyle with the second-fastest time in history, just 0.06 seconds off her best.
• Both Titmus and O’Callaghan broke the previous world record, with Titmus touching in 1:52.23 ahead of O’Callaghan’s 1:52.48 in a fierce final.

Sumit Nagal won the men’s singles title at the Heilbronn Neckarcup 2024 ATP Challenger tennis tournament in Germany.

• The Indian tennis player, ranked 95th in the men’s singles world rankings, beat world No. 184 Alexander Ritschard of Switzerland in three sets 6-1, 6(5)-7(7), 6-3 in the final that lasted two hours and 22 minutes.
• This was the sixth ATP Challenger triumph of Nagal’s career and the second of the year after the Chennai Open crown on home soil earlier this year.
• The 26-year-old Nagal, who is currently the best-ranked Indian singles player, has won four ATP Challenger titles since 2023 and the win in Heilbronn was his fourth title on clay tennis courts.

The Himachal Pradesh government has increased the price of money for medal winners in various international championships.

The prize money for gold medal winners in the Olympics, Winter Olympics, and Paralympics championship has been raised from Rs. 3 crore to  Rs 5 crore.

Silver medallists would now receive Rs. 3 crore instead of Rs 2 crore and bronze medallists would be awarded Rs 2 crore instead of ?1 crore. 

Iga Swiatek won her third consecutive French Open championship and fourth in five years by defeating Jasmine Paolini 6-2, 6-1 in the final on Saturday(8 June 2024).

• The top-seeded Swiatek trailed 2-1 early in Court Philippe Chatrier before taking the next 10 games to claim the opening set and go up 5-0 in the second.
• She stretched her winning streak at Roland Garros to 21 matches and her career record at the place is now 35-2.
• The 23-year-old from Poland is the first woman with three trophies in a row in Paris since Justine Henin from 2005 to 2007.
• Swiatek also won the French Open in 2020 and the U.S. Open in 2022 and is now 5-0 in major finals.

Magnus Carlsen won his sixth Norway Chess title after a year break, while Women's World Champion Ju Wenjun emerged victorious in the inaugural women's event. 

• The 12th edition of this prestigious competition took place in Stavanger, Norway, from May 27 to June 7. Both tournaments were 6-player double-round robins with equal prize funds.
• Each round consisted of a classical game with a win worth 3 points and a loss - 0. In the case of a draw, the players played an Armageddon game, where the winner scored 1½ points, and the loser got just 1 point, with a draw favoring Black.
• The final round of the Norway Chess and Norway Chess Women tournament began with several scenarios that could play out to determine the winner of both tournaments. It saw several thrilling games played to fight for the first place.

Spaniard Carlos Alcaraz became the youngest male tennis player to claim a major title on all three surfaces after beating Alexander Zverev in five sets at the French Open final on Sunday(9, June, 2024)

• Alcaraz won the first set 6-3 and Zverev took the second 6-2 to level the match. In the third set, Zverev edged out a 7-5 win before Alcaraz forced a fifth set with a dominant 6-1 win in the fourth set. He defeated Zverev 6-2 in the final decisive set.
• The 21-year-old Spaniard, who grew up watching countryman Rafael Nadal win trophy after trophy at Roland Garros — a record 14 in all — now has eclipsed Nadal to become the youngest man to collect major championships on three surfaces.
• Nadal was about 1½ years older when he did it. Alcaraz won the U.S. Open on hard courts in 2022 and Wimbledon on grass last year.

Indian strawweight Puja Tomar became the first ever Indian to win a bout in the UFC as she defeated Brazil’s Rayanne Amanda dos Santos via split decision at the UFC Louisville on Saturday.

• Puja Tomar beat Rayanne Amanda dos Santos 30-27, 30-27, 29-28.
• Tomar who hails from Uttar Pradesh, faced Rayanne dos Santos at strawweight in the very first bout of the card. Tomar and dos Santos went all three rounds: 15 minutes of gruelling, fast-paced back-and-forth action.
• Santos used her height advantage and range to dictate the action, but Tomar went kicking and screaming to the final bell, causing damage in the process. When the scorecards were read, Tomar picked up a split decision win (30-27, 27-30, 29-28).

Assam Chief Minister Himanta Biswa Sarma announced that his government would provide monthly stipends to all girl students from class 11 to post-graduation over the next five years, aiming to prevent child marriages.

Addressing a press conference, Sarma said the scheme, 'Nijut Moina', was approved by the cabinet, which estimated that Rs 1,500 crore would be required in five years to give the incentives to around 10 lakh girls.

The sole aim of this scheme is to delay the marriage of a girl so that she can be financially independent and start earning for herself and her family, Sarma said.

• All girls studying in classes 11 and 12 will get Rs 1,000 every month, it will be Rs 1,250 for degree students and Rs 2,500 for girls doing post-graduation..
• A married girl will not get the benefit. The only exception will be those who are enrolled in PG courses.

Chief Minister MK Stalin launched a flagship scheme - Mannuyir Kaathu Mannuyir Kaappom - aimed at preserving the soil fertility of cultivation land in a comprehensive manner.

The programme that has 22 components was announced by Agriculture Minister MRK Panneerselvam in the exclusive budget for agriculture for the year 2024-25.

The scheme aims to preserve soil fertility through the promotion of green manure usage among farmers.

For 2024-2025, Rs 20 crore has been earmarked for the distribution of green manure seeds to cover 2 lakh acres benefitting 2 lakh farmers.

Senior BJP leader Pema Khandu today took oath(13 June 2024) as the chief minister of Arunachal Pradesh for the third consecutive term.

• Along with Khandu, 11 other cabinet ministers were also sworn in at a function held at DK Convention hall in Itanagar.
• Akashvani correspondent reports, Governor of Arunachal Pradesh, Lt. Gen. KT Parnaik (Retd.) administered the oath of office and secrecy to Chief Minister Pema Khandu and other state cabinet ministers.
• The state Cabinet Ministers are Chowna Mein, Byuram Bage, Nyato Dukam, Gabriel D Wangshu, Wangki Lowang, PD Sona, Mama Natung, Smt Dasanglu Pul, Balo Raja , Kento Jini and Ojing Tasing.
• Union Home Minister Amit Shah, Health Minister JP Nadda, Ravi Shankar Prasad, Chief Ministers of Assam and Sikkim, Union Minister Kiren Rijiju, Arunachal East Parliamentary Constituency MP Tapir Gao were present on the occasion.

Chandrababu Naidu Oath Ceremony Highlights: Telugu Desam Party (TDP) chief N Chandrababu Naidu took oath as the chief minister of Andhra Pradesh for a fourth term today, June 12.

• Andhra Pradesh Governor S Abdul Nazeer, on June 11, invited the TDP chief to form the government. N Chandrababu Naidu is slated to take oath at 11:27 am.
• The swearing -in ceremony is taking place near Medha IT Park opposite Gannavaram Airport in Kesarapalli on the outskirts of Vijayawada.
• Several dignitaries were present in his swearing-in ceremony including Prime Minister Narendra Modi, Union Home Minister Amit Shah and BJP chief J P Nadda.

Sikkim Krantikari Morcha (SKM) president Prem Singh Tamang was sworn in as chief minister of the Himalayan state on Monday( 10-06-2024)

• He was administered the oath of office and secrecy by Governor Lakshman Prasad Acharya at a function held in Paljor Stadium here.
• Mr Tamang, 56, became the chief minister for a second consecutive term.
• The SKM returned to power in Sikkim by a landslide victory, winning 31 seats in the 32-member assembly. 
• The opposition Sikkim Democratic Front (SDF), which ruled the state for 25 years in a row till 2019, could manage only one seat.

Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock.

The transaction is expected to close in the September quarter. India is the largest base for Cognizant, with about 250,000 of its total 344,400 employees located here.

The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider’s closing share price on June 7, 2024.

The cash portion will be funded through a mix of available cash and debt.

Founded in 1958, Belcan is a portfolio company of AE Industrial Partners and a leading global supplier of engineering research and development (ER&D) services. It provides services for the commercial aerospace, defense, space, marine, and industrial sectors, primarily in North America and the UK.

Rajasthan Chief Minister Bhajanlal Sharma revealed on June 8 that the state government was investing Rs. 100 crore to develop the Maharana Pratap Tourist Circuit.

The announcement was made by Sharma during the inauguration of Maharana Pratap Jayanti celebrations in Udaipur.

Highlighting the significance of the 16th century King of the erstwhile Kingdom of Merwar, beyond Rajasthan and India, Sharma hailed him as a source of inspiration for the youth globally.

Haryana chief secretary Sanjeev Kaushal on Thursday said that the state government is actively working on establishing special Non-Resident Indian (NRI) cells to address the grievances of Haryana’s natives living abroad and safeguard their interests.

• The chief secretary said this during the Videsh Sampark Programme, an event organised by the Haryana foreign cooperation department in collaboration with the ministry of external affairs.
• The programme is aimed at enhancing engagement with the diaspora and fostering partnerships with state governments to tackle diaspora-related issues.
• The chief secretary emphasised that these NRI cells would operate independently of the police department.

The two day India-IORA Cruise Tourism Conference concluded in New Delhi on Friday(14 June 2024). Officials and experts from the Indian Ocean Rim Association, IORA Member States including Bangladesh, Kenya, Madagascar, Maldives, Mozambique, Sri Lanka, South Africa, Seychelles and Tanzania participated in the Conference.

Prime Minister Narendra Modi is heading to Italy on Thursday( 13 June 2024) to attend a Summit of the Group of Seven (G7), marking his first trip abroad after assuming office for the third consecutive term.
The summit is scheduled to be held between June 13-14 in the Apulia region.

• India has been been invited as an Outreach Country to the Summit, which will see participation from the seven member countries, US, UK, Canada, Germany, Italy, Japan, and France, as well as the European Union.
• Indian ambassador to Italy, VRao said that PM Modi will play an important role in one of the global platforms, to engage with other world leaders present at the G7 Summit on issues of importance to India, as well as to the Global South.
• Italian prime minister Giorgia Meloni had invited PM Modi to attend the G7 Summit.
• It will be India's 11th participation in the G7 Summit and PM Modi's fifth consecutive participation at the G7 Summit. On the sidelines of the Summit, 

India participated in the BRICS foreign ministers’ meeting in Nizhny Novgorod, Russia, marking the first foreign policy event for India under Prime Minister Narendra Modi’s third term.

• The Indian delegation, led by MEA Secretary (Economic Relations) Dammu Ravi, joined foreign ministers from South Africa, Brazil, UAE, China, and Egypt.
• The meeting, the first since BRICS expanded in 2023 to include Egypt, Iran, UAE, Saudi Arabia, and Ethiopia, was opened by Russian Foreign Minister Sergey Lavrov. Lavrov emphasized BRICS' role in fostering a multipolar world and criticized the US and its allies for attempting to maintain dominance.
• He advocated for a more equitable world order based on sovereign equality and highlighted BRICS' commitment to equal cooperation.

A new tiger reserve will soon be established in Uttar Pradesh, following evidence of tiger population in the Suhelwa Wildlife Sanctuary (SWS), which covers the districts of Balrampur, Shravasti, and Gonda.

• The announcement was made during the 10th anniversary celebration of the Pilibhit Tiger Reserve (PTR) on Sunday(10 June 2024).
• Manoj Kumar Singh, the additional chief secretary of environment, forest, and climate change, said the state’s fifth tiger reserve — after Pilibhit, Amangarh, Ranipur and Bijnor — will soon be notified.
• SWS is spread across 452sqkm, with 232sqkm designated as the core area and 220sqkm as the buffer zone. The Centre’s report on the tiger census, released last April, confirmed photographic proof of tigers in Suhelwa for the first time.