Current Affairs Today 20th June 2023 Daily GK Update

20/06/2023

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Daily Current Affairs 20th June 2023 Daily GK Update

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National News

G20 Agriculture Ministerial Meeting (AMM) held in Hyderabad

The G20 Agriculture Ministerial Meeting (AMM) has been held in Hyderabad to provide the Agriculture Ministers and delegates from various G20 countries a first-hand experience of ICAR-IIMR (Indian Institute of Millets Research).
The delegates discussed about Managing Agribusiness for Profit, People, and Planet and Connecting the Digitally Disconnected- Harnessing the Power of Digital Technologies in Agriculture.
The delegates also witnessed programmes which are a blend of vibrant diverse traditions, arts, culture, and heritage of India in the city of pearls.

G20 in News (Note – All Meetings are Under the Presidency of G20 by India)

Science-20 Meeting – Bhopal, Madhya Pradesh (16 -1 7 June 2023)
Women 20 Summit – Mahabalipuram, Tamil Nadu (15 June 2023)

4th Education Working Group (EDWG) Meeting – Pune, Maharashtra (19 -21 June 2023)
2nd summit of Supreme Audit Institutions of G20 Meeting – Panji, Goa (12-15 June 2023)
Third G20 Health Working Group meeting – Hyderabad
3rd Employment Working Group Meeting – Geneva, Switzerland (31 May – 2 June 2023)

Civil Aviation sector records 36% growth during January to May 2023

The civil aviation sector in India recorded a growth of 36% during January-May 2023, compared to the same period in 2022.
The number of passengers carried during the period increased to 79.8 million, from 58.9 million in 2022.
Domestic passenger traffic grew by 37.7%, while international passenger traffic grew by 33.2%. The cargo traffic also grew by 13.2% during the period.
In the month of May last year, passenger count was over 114 lakh, which in May this year rose to over 132 lakh, registering a Month-on-Month growth of 15.24 percent.
The overall passenger number in May this year increased by 3.26 lakhs as compared to April this year. Also, the number of passenger-related complaints decreased in May 2023 compared to May 2019.

Himachal CM inaugurates Real Estate Expo-2023

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu has inaugurated “The Tribune Real Estate Expo, 2023” in Shimla.
Around 15 real estate developers and some banks are participating in the expo.
The expo is expected to attract potential buyers and investors from across the country.
Most of these developers are exhibiting their properties situated in Zirakpur, Mohali and other areas close to Chandigarh.
The expo is being organized by the Himachal Pradesh Real Estate Regulatory Authority (HPRERA) and the Himachal Pradesh Chamber of Commerce and Industry (HPCCI).

About Himachal Pradesh

Capital – Shimla (Summer), Dharamshala (Winter)
Chief Minister – Sukhwinder Singh Sukhu
Deputy Chief Minister – Mukesh Agnihotri
Governor – Shiv Pratap Shukla

Government sets up panel to recommend reforms in arbitration law

The Department of Legal Affairs under the Union law ministry, has set up a panel to recommend reforms in the Arbitration and Conciliation Act.
The committee would be led by former law secretary T K Vishwanathan.
It will evaluate and analyze the operation of the present arbitration ecosystem of the country, including the working of the Arbitration Act, highlighting its strengths and weaknesses and challenges vis-a-vis other important foreign jurisdictions.
The committee has also been asked to recommend a framework of model arbitration system which is efficient, effective and economical and caters to the requirements of the users.

Recent Committees

Centre constitutes peace committee in Manipur; Chaired by the governor of Manipur
Government sets up 3-member panel to probe Manipur Violence; Headed by Ajai Lamba (former CJ of the Gauhati HC)
SEBI formed an Intermediary Advisory Committee to advise the market regulator on changes in the legal framework; chaired by -S Ravindran
National Tiger Conservation Authority (NTCA) set up an 11-member Cheetah Project Steering Committee; Headed by – Rajesh Gopal
IRDAI constitutes Expert committee for matters related to mental health; headed by – Pratima Murthy

Banking and Financial

World Bank approves $150-million loan for Resilient Kerala programme

The World Bank has approved a $150 million loan to support the Resilient Kerala program to continue strengthening the state’s preparedness against natural disasters, climate change impacts, and disease outbreaks.
This additional financing will further deepen Kerala’s resilience in the critical areas of coastal erosion and water resource management.
The loan, from the International Bank for Reconstruction and Development (IBRD), has a final maturity of 14 years, including a grace period of six years.
It complements the World Bank’s earlier investment of $125 million and the overall support is expected to protect nearly 50 lakh people from the impact of floods.
In the aftermath of the 2018 floods, the World Bank had aided the State in building the capability to respond to shocks to the economy and prevent the loss of lives, assets, and livelihoods.
The programme supported policy and institutional reforms in the State, including improved management of the Pampa River basin, sustainable and climate-resilient agriculture, risk-informed land-use, and disaster management planning at local levels.

About Kerala

Capital – Thiruvananthapuram
Chief Minister – Pinarayi Vijayan
Governor – Arif Mohammad Khan

Kotak Mahindra Bank launches ‘ActivMoney’

Kotak Mahindra Bank launched its ActivMoney feature, which gives customers the benefit of fixed deposit (FD)-like interest up to 7 percent per annum, and the flexibility to access their funds at any time from the linked savings account.
This is an auto sweep feature that is offered by several other banks, including Axis Bank, HDFC Bank, ICICI Bank, and IndusInd Bank.

What is an auto sweep feature?

This allows a savings account holder to earn higher interest as offered in FDs while retaining the liquidity offered by a saving account.
Some banks like Jana Small Finance Bank and Kotak Mahindra Bank extend this facility to their current account holders.
As and when the balance in the savings or current account crosses a preset threshold, the excess amount is automatically used to open FDs for a pre-determined tenure (also called sweep-out).
Similarly, when the savings account balance falls below a pre-determined limit, the linked FD(s) are automatically closed and the proceeds credited to the savings account to make up the deficit (also called sweep-in).
The threshold limit for sweep-out varies. For instance, at Axis Bank and Kotak Mahindra Bank, the required threshold amount in the savings account is Rs 25,000, at ICICI Bank its Rs 15,000, and at IndusInd Bank its Rs 20,000 (see graphic).

Difference between an auto sweep account and a regular FD

To invest in auto sweep FD, you need to give a consent only one time to your bank for a particular savings account. After that, the surplus amount beyond the threshold limit is automatically converted into FD.
As a result, you will earn higher returns and you won’t need to visit the bank branch to obtain an FD or apply for FD online on the bank website every time you have a surplus amount in the savings account.
In the case of a regular FD, you will have to request your bank every time to convert your surplus amount in the savings account to an FD.

About Kotak Mahindra Bank

Founded – 2003
Founders – Uday Kotak
Headquarters – Mumbai, Maharashtra
Chairman – Prakash Apte
MD & CEO – Uday Kotak

SEBI issues guidelines on product offerings by online bond platform

Capital markets regulator SEBI has restricted online bond platform providers from offering products other than listed debt securities on their platforms.
In addition, the regulator allowed them to offer securities such as Government Securities, Treasury Bills, listed Sovereign Gold Bonds, listed municipal debt securities, and listed securitized debt instruments on their online bond platforms, according to a circular.
Under the rules, Online Bond Platform Providers (OBPPs) need to register themselves as stock brokers in the debt segment of the stock exchange.
OBPs offer an avenue for investors, particularly non-institutional investors to access the bond market.
While restricting products offered on an online bond platform, Sebi reiterated that an entity acting as an online bond platform provider would cease to offer on its platform or any other platform website, products or services not permitted under the rules.

About Securities and Exchange Board of India (SEBI)

Founded – 12 April 1988
Act – 1992
Headquarters – Mumbai
Chairman – Madhabi Puri Buch
SEBI Set up – Uday Kotak committee

Paytm introduces UPI SDK for seamless online merchant payments

Paytm has introduced a UPI Software Development Kit (SDK) for customers to make payments to online merchants without any failure of the system.
UPI SDK has also assured fail-proof transactions.
Paytm UPI SDK will let users pay directly from bank accounts through UPI PIN without having to jump between merchant and payment app. Along with Paytm UPI Lite, the company is enhancing two-sided payments, for both merchants and customers.
In addition, the Paytm UPI SDK is the smallest and lightest in the market, packed with low-code integration, fully customisable UI themes and priority customer support.

About PAYTM

Founded – August 2010
Headquarters – Noida, Uttar Pradesh
Owner – One97 Communications Ltd.
Founder(s) – Vijay Shekhar Sharma

Appointment and Resignation

Ravi Sinha appoints as new chief of RAW

Ravi Sinha, a 1988 batch IPS officer of the Chhattisgarh cadre, has been appointed as the next chief of the Research and Analysis Wing (RAW).
Sinha will take over from current chief Samant Kumar Goel, whose term ends on June 30, 2023.
Sinha, who has had an over two-decade-long stint in the Research and Analysis Wing (R&AW), is at present the second-in-command in the organization. Before being promoted, he was looking after the operations wing.
His predecessor Goel was appointed R&AW chief for two years in June 2019. He was later given two extensions of one year each in 2021 and June 2022.
Goel, an expert on matters related to Jammu and Kashmir, is believed to have played a key role in planning the February 2019 surgical strike in Pakistan’s Balakot.

About Research and Analysis Wing (RAW)

Established – 21 September 1968
Founder – RN Kao, Indira Gandhi
Headquarters – New Delhi
Chief – Ravi Sinha
RAW is the foreign intelligence agency of India.
RAW’s primary function is to gather foreign intelligence. It is responsible for counter-terrorism and counter-proliferation efforts.

Recent Appointment in Defence Sector

Chief of Research and Analysis Wing (RAW) – Ravi Sinha (replace Samant Kumar Goel)
Director general of the Border Security Force (BSF) – Nitin Agarwal
1st woman to command Communication Zone – Colonel Shuchita Shekhar
Director Central Bureau of Investigation (CBI) – Praveen Sood (replace Subodh Jaiswal)
Vice Chief of Naval Staff – Vice Admiral Sanjay Jasjit Singh
Director general of SSB – Rashmi Shukla

Awards

Arundhati Roy wins 45th European Essay Prize for ‘Azadi’

Writer Arundhati Roy has been awarded the 45th European Essay Prize for lifetime achievement by the Charles Veillon Foundation.
Roy has been awarded the prize for the French translation of her compilation of essays titled “Azadi” (2021).
In “Azadi”, Roy has reflected on the meaning of freedom in a world of “growing authoritarianism”. The essays include meditations on language, public as well as private, and on the role of fiction and alternative imaginations in current times.
Roy will receive the award, along with the prize money of CHF 20,000 (approx ₹18 lakh), at a ceremony on September 12 in the Swiss city of Lausanne.
Since its inception in 1975, the award by the Charles Veillon Foundation has honoured a book or the work of an author “who, through their writings, contributes to nourishing and spreading the evolution of thought”.

Recent Awards

‘Athi Uttam’ by the NABET – GSITI Hyderabad
Elizabeth Longford Prize 2023 – Ramachandra Guha (for Rebels Against the Raj)
Governor of the Year at the Central Banking Awards 2023 in London’ – RBI Governor Shaktikanta Das (Raghuram Rajan in 2015)
RSL Christopher Bland Prize 2023 – Paterson Joseph (for Secret Diaries of Charles Ignatius Sancho)
UNESCO Michel Batisse award 2023 – Jagdish S Bakan
Suriname highest civilian award Grand Order of the Chain of the Yellow Star – Droupadi Murmu

Gita Press, Gorakhpur, awarded Gandhi Peace Prize for 2021

Gita Press, Gorakhpur, will be awarded the Gandhi Peace Prize for 2021 in recognition of its exceptional contribution to social, economic, and political transformation through non-violent and Gandhian methods.
The jury headed by Prime Minister Modi, unanimously selected Gita Press as the recipient of the Gandhi Peace Prize.
Gita Press, Gorakhpur, one of the world’s largest publishers, has refused to accept the Rs 1 crore cash reward for the Gandhi Peace Prize for 2021 amid a controversy over being picked for the honour.
The Gandhi Peace Prize is an annual award instituted in 1995, on the occasion of the 125th birth anniversary of Mahatma Gandhi as a tribute to the ideals espoused by Mahatma Gandhi.
The award is open to all persons regardless of nationality, race, language, caste, creed or gender.
Recent awardees include Sultan Qaboos Bin Said Al Said, Oman (2019) and Bangabandhu Sheikh Mujibur Rahman (2020), Bangladesh.

Author Salman Rushdie awarded German Peace Prize 2023

Author Salman Rushdie has been awarded a prestigious German Peace Prize for his literary work and for his resolve in the face of a “constant threat to his life”.
He would receive the award in Frankfurt on October 22, 2023.
Cash prize: Euro 25,000 ($27,300)
This prize was established in 1950 to recognize a personality committed to serving international understanding between nations and cultures through their work.
Rushdie served as the president of the PEN American Center from 2004 to 2006, and then as chairman of the PEN World Voices International Literary Festival for 10 years.

Recent Awards

Greentech Safety Award 2023 – Rashtriya Ispat Nigam Limited (RINL)
57th Jnanpith Award – Damodar Maujo
Honoris Causa at Apex University’s Jaipur – Sonu Sood
National Water Award 2022 – Chandigarh
Fiji’s highest civilian award “The Companion of the Order of Fiji” – PM Modi

Sports

Indian Men’s Senior Football Team wins Intercontinental Cup 2023

The Indian men’s football team beat Lebanon 2-0 to win the Intercontinental Cup 2023 at the Kalinga Stadium in Bhubaneswar.
It was India’s first win over Lebanon in 47 years and second in eight meetings.
This was the third edition of the Intercontinental Cup. The Indian football team upset Kenya to win the inaugural Intercontinental Cup in 2018 while North Korea clinched the crown in 2019 by beating Tajikistan.
Indian captain – Sunil Chhetri

Important day

19 June – International Day for the Elimination of Sexual Violence in Conflict

The International Day for the Elimination of Sexual Violence in Conflict is observed every year on 19 June.
Objective – To raise awareness and end sexual violence in conflict situations.
Theme 2023 – Bridging the gender digital divide to prevent, address and respond to conflict-related sexual violence
The day focuses on the prevalence and consequences of sexual violence in conflict zones.
International Day for the Elimination of Sexual Violence was established on June 19, 2015, by the United Nations General Assembly. It is aimed at raising awareness about the need to end conflict-related sexual violence and honouring people who are subjected to sexual violence around the world.
The day was also created to pay tribute to those who strived to eradicate the crime and lost their lives doing that.

20 June – World Refugee Day

World Refugee Day is observed annually on June 20.
Objective – To raise awareness, show solidarity, and support the millions of refugees seeking safety, dignity, and a brighter future
Theme 2023 – Hope away from home
World Refugee Day has its origins in the United Nations General Assembly’s Resolution 55/76, which was passed on December 4, 2000.
This resolution was introduced to raise awareness about the growing global population of refugees and to commemorate the 50th anniversary of the 1951 Refugee Convention.
The 1951 Refugee Convention was created in the aftermath of World War II and laid the foundation for the legal framework governing the protection and rights of refugees.
It established the criteria for identifying individuals as refugees, outlined their entitlements, and delineated the responsibilities of nations in offering them safety and support.
The convention played a crucial role in safeguarding the rights and well-being of those who have been forced to flee their homes due to persecution or conflict.

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