Current Affairs 8th June 2022 Daily GK Update
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Table of Contents
National News
Biotech Startup Expo-2022 to be inaugurated by PM Modi in New Delhi
- Biotech Startup Expo-2022 will be inaugurated by Prime Minister Modi at Pragati Maidan, New Delhi.
- This Biotech Startup Expo-2022 is a two day from starting from 9th – 10th of June. This expo is organized by the Department of Biotechnology and Biotechnology Industry Research Assistance Council (BIRAC).
- Theme 2022: ‘Biotech Startup Innovations: Towards AatmaNirbhar Bharat’.
WhatsApp launched SMBSaathi Utsav to support small businesses through digital mediums
- Whatsapp launched SMBSaathi Utsav initiative which aims to support small businesses by helping them to adopt digital mediums like Whatsapp Business App.
- SMBSaathi Utsav has started the initiative with a pilot in Jaipur’s Johri Bazaar and Bapu Bazaar where over 500 small businesses are being trained.
- The initiative was launched in the collaboration with Josh Talks. The SMBSaathi Utsav is the second phase of the SMBSaathi campaign.
National Tribal Research Institute inaugurated by Amit Shah in New Delhi
- Union Home and Cooperation Minister Amit Shah inaugurated the newly built National Tribal Research Institute (NTRI) in New Delhi.
- This institute is to promote and preserve the tribal heritage and culture and the nerve centre of tribal research issues and matters in academic, executive and legislative fields.
- Tribal Research Institute (TRI) is the research body of the Ministry of Tribal Affairs at the state level. There are 26 Tribal Research Institutes (TRIs) supported by the Ministry of Tribal Affairs.
Nirmala Sitharaman to launch a single Nodal Agency Dashboard
- Finance minister Nirmala Sitharaman will launch a Single Nodal Agency (SNA) dashboard.
- This dashboard will provide a platform for ministries/departments to monitor transfer of funds to states and their utilisation.
- This SNA Model will provide the necessary feedback and monitoring tools in the operation of the schemes, Public Financial Management System (PFMS) has developed the SNA dashboard.
- The dashboard is being launched as part of the iconic week celebrations of Azadi Ka Amrit Mahotsav by the finance ministry.
International News
Forbes Real Time Billionaires List: Mukesh Ambani, Gautam Adani topped as India’s richest men
- Recently, Forbes Real Time Billionaires List was declared. It featured the list of the richest person around the world.
- The chairman and managing director of Reliance Industries Ltd and the chairperson of Adani Group are also in the list of top 10 richest persons in the world.
- In the “Bloomberg Billionaires Index”, Mukesh Ambani is in eighth spot, and Gautam Adani is in ninth position. Elon Musk topped both the lists.
| Rank | Name | Net worth | Country | Source |
| 1 | Elon Musk | $219.4 B | United States | Tesla, SpaceX |
| 2 | Bernard Arnault & Family | $156.5 B | France | LVMH |
| 3 | Jeff Bezos | $150.5 B | United States | Amazon |
| 4 | Bill Gates | $128.1 B | United States | Microsoft |
| 5 | Warren Buffett | $112.8 B | United States | Berkshire Hathaway |
| 6 | Mukesh Ambani | $103.2 B | India | Diversified |
| 7 | Gautam Adani & family | $101.0 B | India | Infrastructure, commodities |
Global Environmental Performance Index 2022: India ranked 180th; Denmark topped
- In Environmental Performance Index (EPI) 2022, India ranked at the lowest position among all 180 countries.
- The index is produced by US researchers at Yale and Columbia Universities.
- The index is being ranked on the 40 performance indicators, including climate change, environmental public health, and ecosystem vitality.
- According to the index, India has poor air quality and quickly rising greenhouse gas (GHG) emissions, comes in at the very bottom of the country rankings for the first time.
Top 5 ranked countries:
- Denmark (1)
- UK (2)
- Finland (3)
- Malta (4)
- Sweden (5)
Rankings of other countries:
- India (180)
- Myanmar (179)
- Vietnam (178)
- Bangladesh (177)
- Pakistan (176)
- Haiti (173)
- China (160)
- Russia (112)
List of India’s Rank in Different Index 2021-22
- Chainalysis 2021 Cryptocurrency Gains by Country: India ranked 21st in estimated Crypto Gains in 2021, US topped
- World Press Freedom Index 2022: India ranked 150th; Norway topped
- THE Impact Rankings 2022: India 4th best-represented nation; Western Sydney University (Australia) topped
- World Air Power Index 2022: IAF ranked 3rd
- WEF’s Travel and Tourism Development Index 2021: 54th
UN to grant humanitarian assistance of $48 million to Sri Lanka amid crisis
- UN has planned to provide humanitarian assistance of around $48 million over a four-month period to Sri Lanka.
- New Delhi’s financial assistance worth over $3 billion since January to provide essential items, including food, fuel, cooking gas and medicines.
- Sri Lanka needs $6 billion to keep the country afloat for the next six months, adding that $5 billion is required to ensure day-to-day living and another $1 billion to strengthen the Sri Lankan rupee.
About Sri Lanka:
- Capital: Jayawardenepura Kotte
- Currency:Sri Lankan Rupee
- Prime Minister: Ranil Wickremesinghe
- President: Gotabaya Rajapaksa
Banking and Financial
RBI imposed a monetary penalty of Rs. 49 lakh on Bassein Catholic Co-operative Bank and Rs. 50,000 on Jila Sahakari Kendriya Bank Maryadit
- The Reserve Bank of India imposed a monetary penalty on Bassein Catholic Co-operative Bank and Jila Sahakari Kendriya Bank Maryadit charged the penalty of 49 lakh and Rs. 50,000 respectively for non-compliance with certain directives issued by it.
- The penalty was charged on Bassein Catholic Co-operative Bank because it had upgraded and regularised loan accounts of borrowers without recovering overdue amounts and had not classified existing non-performing loan accounts of borrowers as NPAs, on restructuring.
- Morena-based Jila Sahakari Kendriya Bank Maryadit has violated the RBI’s Know Your Customer (KYC) norms.
List of Banks who has been imposed penalty by RBI recently:
- RBI imposed ₹30 lakh penalty on Japan’s MUFG Bank
- RBI imposed penalties of Rs 93 lakh each on Axis and IDBI Bank
- RBI imposed Rs 17.63 lakh monetary penalty on Manappuram Finance
- RBI imposed penalty of Rs. 1.12 crores on Bank of Maharashtra for non-compliance
- RBI imposed a penalty of Rs 25 lakh on Haryana State Co-operative Apex Bank Limited
- RBI imposed a penalty of Rs 12 lakh on Rajkot Nagarik Sahakari Bank Limited
World Bank forecasted India’s economic growth to 7.5% for FY23
- The World Bank slashed its economic growth of FY23 for India to 7.5% from 8% which was estimated in April.
- The reason behind the projection was given the rise in inflation, supply chain disruptions, and geopolitical tensions.
- This is the second time when World Bank has revised its GDP growth for India in the current FY (April 2022 to March 2023).
India GDP projected for FY23 (2022-2023)
- SBI: 8.2-8.5%
- RBI: 7.2%
- IMF: 8.2%
- FICCI: 7.4%
- MoSPI: 3-3.5%
RBI Monetary Policy: Repo Rate increased to 4.90%, inflation forecast raised to 6.7%
- The Reserve Bank of India’s (RBI) Monetary Policy Committee headed by Reserve Bank of India (RBI) Governor Shaktikanta Dasincreased repo rate, forecasted GDP growth, MSF and Bank rate increased and other.
Highlights:
- RBI kept its projection growth at 7.2% for the current fiscal on the back of improvement in urban demand and gradual recovery in rural India.
- RBI has increased the repo rate by 50 bps to 4.90%, due to the soar inflation.
- RBI has increased FY23 CPI inflation forecast to 6.7% from 5.7%.
- The limit of individual loans extended by co-operative banks by 100%.
- Credit cards, starting with RuPay credit cards, can now be linked to the Unified Payments Interface (UPI) platforms.
- Increased the limit for e-mandates/ standing instructions on cards and Prepaid Payment Instruments (PPIs) for recurring transactions to ₹15,000, from ₹5,000 at present.
Current Policy Rate: Last Updated on 8 June 2022
| Policy | Rates |
| Repo Rate | 4.90% |
| Reverse Repo Rate | 3.35% |
| Marginal Standing Facility (MSF) Rate | 5.15% |
| Bank Rate | 5.15% |
| Cash Reserve Ratio | 4.50% |
| Statutory Liquidity Ratio (SLR) | 18.00% |
| Standing Deposit Facility Rate | 4.65% |
Appointment and Resignation
Alok Choudhary appointed as the new MD of SBI
- Alok Choudhary has been appointed as the fourth Managing Director (MD) of SBI.
- Alok Choudhary was cleared as MD by Banks Board Bureau (BBB) in March. He will be incharge till June 30, 2024.
Other reshufflings:
- MD Ashwini Bhatia was selected to be wholetime director (WTD) at stock market regulator Securities and Exchange Board of India (SEBI). Bhatia took over as SEBI director after the retirement from SBI on May 31.
- CS Setty was the MD for retail and digital banking is now appointed to international banking, technology and markets.
- Ashwini Kumar Tewari will be looking after the Risk, compliance, audit and stressed assets resolution group (SARG). He was MD of international banking, technology and markets.
- J Swaminathan MD of SARD will see corporate banking and subsidiaries of the bank.
- Nitin Chugh, Deputy Managing Director and head, will be incharge of the Digital Banking.
Awards
4th Food Safety Index awards released: Tamil Nadu topped
- Recently, 4th Food Safety Index awards were announced by Union Health Minister Mansukh Mandaviya on the occasion of World Food Safety Day.
- This was started in 2018-19. The aim of the award is to create a competitive and positive change in India’s food safety ecosystem.
Top ranked Large State Category:
- Tamil Nadu
- Gujarat
- Maharashtra
Top Ranking Small State Category:
- Goa
- Manipur
- Sikkim
Top Ranking Union Territory:
- Jammu and Kashmir
- Delhi
- Chandigarh
Sports
Shreyas G Hosur became 1st Indian Railways officer to complete gruelling ‘Ironman’ Triathlon
- Shreyas G Hosur has become the first officer to complete the gruelling “Ironman Triathlon” in Hamburg from the Indian Railways.
- Hosur is a 2012-batch Indian Railway Accounts Service (IRAS) officer.
- The Ironman Triathlon is toughest single-day sports event in the world to compete.
It comprises of:
- Swimming: 3.8-km
- Cycling: 180-km
- Running: 42.2-km
- Ironman Hamburg in Germany was originally added to the Ironman event schedule in 2017.
- 2022 was the race’s fifth edition in Hamburg.
Important day
8 June: World Ocean Day
- World Ocean Day is celebrated on 8th June every year and highlights the role of the oceans in sustaining life on Earth and to inspire action to conserve it.
- The day was first proposed at United Nations Conference on Environment and Development (UNCED) held in Rio de Janeiro, Brazil in 1992.
- United Nations General Assembly (UNGA) adopted a resolution on December 5, 2008, and designated June 8 as World Oceans Day.
- Theme 2022: ‘Revitalisation: Collective Action for the Ocean’
About United Nations General Assembly (UNGA):
- President: Abdulla Shahid (76th)
- India’s Permanent Ambassador to UN: T S Tirumurti
8 June: World Brain tumour Day
- World Brain tumour day is observed every year on 8 June.
- It was first observed in 2000.
- This day aims to create awareness about the brain tumours.
- Theme 2022: ‘Together We Are Stronger’.
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