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Daily Current Affairs 8th and 9th June 2024 Daily GK Update
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National News
Air India- Vistara merger gets NCLT nod
- The National Company Law Tribunal (NCLT) has granted its approval for the merger of Vistara with Air India allowing a period of nine months for the dissolution of the former.
- Tata Sons Private Limited will hold 73.38% stake in the merged entity, and Singapore Airlines 25.1%. The remaining 1.52% will be held by SBICAP Trustee Limited on behalf of Air India Employee Settlement Trust.
- The anti-competition trusts of India and Singapore have already granted their nod for the integration. Next, the DGCA will have to approve the transfer of Vistara’s crew, operations and aircraft to Air India.
- Vistara’s CEO Vinod Kannan has said that the airline aims to complete the merger by December 2024.
- The Tata Sons also fully own Air India Express which was merged with erstwhile AirAsia India, rechristened as Air India Connect after Malaysian airline group AirAsia sold its entire stake of 16.33% in 2022.
2 more Indian wetlands added to Ramsar List
- India has added two bird sanctuaries from Bihar, Nagi and Nakti, to the ‘Ramsar Sites’ list, taking the tally to 82.
- The newest ‘Wetlands of International Importance’, both man-made reservoirs situated in the Jhajha forest range of Jamui District in Bihar, were added to Ramsar Sites as part of World Environment Day.
- The two catchments feature dry deciduous forests surrounded by hills.
- With the two sites, India now equals China in terms of Ramsar Sites. Both countries have 82 recognized waterlogged ecosystems in the country.
- The UK with 175 has the highest number of such sites, followed by Mexico, 144.
- Bihar now has three Ramsar sites. The first one was Kanwar Lake in Begusarai district, which was declared a Ramsar site in 2020.
About Nagi Bird Sanctuary
- Nagi Bird Sanctuary was notified as the 81st Ramsar Site of India. The Nagi wetland area, spread over 791 hectares in the Jamuai district of Bihar, is a man-made site created by constructing a dam on the Nagi River.
- The lake formed after the dam’s construction attracts migratory birds during winters from Eurasia, Central Asia, Russia, and Northern China.
- The Nagi Bird Sanctuary was recognized locally as a Bird Sanctuary in 1984 and internationally as an Important Bird and Biodiversity Area (IBA) by Bird Life International.
About Nakti Bird Sanctuary
- Nakti Bird Sanctuary is the 82nd Ramsar site in India. It is also a man-made site created by Nakti Dam and is spread across 332 hectares. It is near the Nagi Bird Sanctuary and is also located in the Jamuai district of Bihar.
- The dam’s lake is a habitat for over 150 species of birds, mammals, fish, aquatic plants, etc.
- The Nakti wetland was declared a Bird sanctuary in 1984.
18th Mumbai International Film Festival to be held from June 15-21
- The 18th edition of the Mumbai International Film Festival (MIFF) will be held in Mumbai from June 15 to 21.
- The film gala, which showcases non-feature films (documentary, short Fiction and animation) will be at the FD-NFDC Complex in Mumbai.
- Besides, MIFF screenings will also be held in Delhi at Sirifort Auditorium, Chennai at Tagore Film Centre, Pune at NFAI auditorium and Kolkata at SRFTI Auditorium.
- The 2024 edition will open with the screening of National Geographic’s documentary “Billy & Molly: An Otter Love Story”.
- The organisers received a record number of 1018 films from 38 countries and across 65 languages for the latest edition.
International News
Pakistan, Panama, Somalia, Greece elected as UNSC non-permanent members
- Pakistan, Somalia, Denmark, Greece and Panama were elected as non-permanent members of the UN Security Council for a two-year term beginning 2025.
- The five members were elected by a secret ballot in the UN General Assembly for a 2-year term starting on January 1, 2025, until December 31, 2026.
- In the two seats for African and Asia-Pacific States, Somalia got 179 votes and Pakistan 182.
- In the Latin American and Caribbean States, Panama got 183 votes while in the Western European and other States, Denmark got 184 votes and Greece 182.
About United Nations (UN)
- Founded – 24 October 1945
- Headquarters – New York, US
- Official languages – Arabic, Chinese, English, French, Russian & Spanish
- Membership – 193 members (193rd – South Sudan)
- 1st Secretary General – Trygve Halvdan Lie (Norway)
- 9th Secretary‑General – António Guterres (Portugal)
- Deputy Secretary-General – Amina J. Mohammed (Nigeria)
- United Nations Day is celebrated on October 24 every year
India launches Biopharmaceutical Alliance with US, Japan, & South Korea
- India, South Korea, Japan, the US, and the European Union has launched an alliance to put joint efforts to build a resilient supply chain in the biopharmaceutical sector.
- The announcement was made at the inaugural meeting of the Biopharmaceutical Alliance, held in San Diego, California, during the Bio International Convention 2024, the world’s largest biopharmaceutical exhibition.
- The participants emphasized the importance of a reliable and sustainable supply chain and agreed to coordinate the respective countries’ bio policies, regulations, and research and development support measures.
- The alliance was launched in response to the drug supply shortages experienced during the Covid-19 pandemic.
First IPEF Clean Economy Investor Forum meeting held in Singapore
- Singapore hosted the first Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum meeting.
- The meeting was held along with the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting. The Indian delegation was led by Sunil Barthwal, Secretary of the Department of Commerce.
- The Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum was organised to bring together the Asia Pacific region’s top investors, clean economy companies, and start-ups to mobilise investments into renewable energy projects, sustainable infrastructure and climate technology.
About Indo-Pacific Economic Framework for Prosperity (IPEF)
- The Indo-Pacific Economic Framework for Prosperity (IPEF) is an American-led initiative that was launched after the COVID-19 pandemic, which disrupted the world’s supply chain.
- China, which is the factory of the world, is the crucial link in the global supply chain. Many countries depend on Chinese factories for industrial products, semi-finished products, and raw materials.
- To diversify from China and build an alternative supply chain, the IPEF was launched.
- It was formally launched by American President Joe Biden on 23 May 2022 in Tokyo, Japan.
Members of the IPEF
- The IPEF consists of 14 member countries -USA, India, Australia, Brunei, Fiji, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand and Vietnam.
Banking and Financial
SBI General Insurance withdraws Arogya Plus policy with effect from Oct 5
- Private general insurer, SBI General Insurance Company has announced the withdrawal of its Arogya Plus policy with effect from October 5, 2024.
- As per the regulatory requirement, insurance companies must give 90 days’ advance intimation to their customers before withdrawing a policy.
- Policyholders holding the Arogya Plus policy will be given an option to migrate to a comprehensive health insurance policy like Super Health Insurance or to any other individual health insurance product available with the general insurer, including the Standard Product.
- Arogya Plus provided coverage up to a specified sum insured at a flat premium. The flat premium was irrespective of the age of the insured and family combination.
- The policy was available on an individual basis, family non-floater, and family floater sum insured basis. The policy had no limits on room rent or age-related charges.
RBI keeps Repo Rate unchanged for 8th consecutive time at 6.5%
- The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5%.
- The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) has voted by a 4:2 majority to keep the policy repo rate unchanged at 6.5% for eight consecutive times.
- The MPC had last changed rates in February 2023.
- The MPC has revised its GDP growth forecast upwards from the earlier 7% estimate to 7.2% for the financial year 2024-2025. It has also decided to remain focused on withdrawal of accommodation to ensure that inflation does not accelerate, while supporting growth.
- These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2% while supporting growth.
- The second bi-monthly Monetary Policy Committee meeting of fiscal year 2024-25 was held on June 5 to 7, 2024. The next meeting of the MPC is scheduled for 6-8 August 2024.
- The MPC is mandated to meet at least four times in a financial year, which runs from 1 April to 31 March.
RBI Current Policy Rate are as
- Policy Repo Rate – 6.50%
- Standing Deposit Facility (SDF) – 6.25%
- Marginal Standing Facility (MSF) – 6.75%
- Bank Rate – 6.75%
- Reverse Repo Rate – 3.35%
- Cash Reserve Ratio (CRR) – 4.50%
- Statutory Liquidity Ratio (SLR) – 18%
RBI set up a committee to Mitigate Payment Fraud
- The Reserve Bank has constituted a committee under the Chairmanship of former MD and CEO of National Payments Corporation of India, A P Hota to examine various aspects of setting up a digital public infrastructure for Digital Payments Intelligence Platform.
- RBI is mulling to set up a Digital Payments Intelligence Platform to mitigate payment fraud risks. The Committee is expected to give its recommendations within two months.
- Domestic payment frauds jumped by 70.64 per cent to Rs 2,604 crore during the six-month period ended March 2024 from Rs 1,526 crore in the same period of last year.
- The volume of frauds also rose to 15.51 lakh during the March 2024 period from 11.5 lakh in the previous six-month period, RBI data shows.
Appointment
Kamal Kishore Soan takes over the charge of DG of ESIC
- Kamal Kishore Soan took over the additional charge of Director General of Employees’ State Insurance Corporation (ESIC) under Ministry of Labour & Employment.
- Soan is a senior 1998 batch’s IAS officer from Jharkhand Cadre.
- He is currently serving as an Additional Secretary and Director General, Labour Welfare in the Ministry of Labour & Employment.
Raj Priy Singh (IFoS) appointed as Director in Department of Rural Development
- Raj Priy Singh (IFoS) has been selected for the appointment as Director in the Department of Rural Development under the Ministry of Rural Development.
- According to an order issued from the Department of Personnel & Training (DoPT), Singh has been selected for the appointment under the Central Staffing Scheme (CSS) for a period with effect from the date of taking over charge of the post until further orders, whichever is earlier.
Recent Appointment
- Vice-Chancellor of IIFT – Rakesh Mohan Joshi
- Chairperson of Deendayal Port Authority – Sushil Kumar Singh (replace SK Mehta)
- Chairman of Staff Selection Commission (SSC) – Rakesh Ranjan
- CEO of Sony India – Gaurav Banerjee (replace NP Singh)
- Chairperson of Committee A Of 77TH WHA Event – Apurva Chandra
Awards
Vellayan Subbiah named the EY World Entrepreneur of The Year 2024
- Vellayan Subbiah was named the EY World Entrepreneur of The Year 2024 at an award ceremony held in Monaco’s Salle des Etoiles.
- He is an Executive Vice-Chairman of Tube Investments of India (TII) and Chairman of Cholamandalam (Chola) Investment and Finance Co. Ltd.
- Vellayan was selected from among nearly 5,000 programme participants that included 51 winners across 47 countries and jurisdictions competing for the global title.
- He is the fourth winner from India in the award’s 24-year history and his win also makes India the only country among EY regions to win the global entrepreneurship award four times.
- Narayana Murthy, Uday Kotak and Kiran Mazumdar Shaw are the other Indians to win this award.
Recent Award
- Dilip Bose Lifetime Achievement Award – Nar Singh & Rohini Lokhande
- Gudleppa Hallikeri Award 2024 – Siddhalinga Pattanashetti
- Nelson Mandela Award for Health Promotion 2024 – National Institute of Mental Health and Neuro Sciences, Bengaluru
- CSR Champion Award 2024 – Power Finance Corporation Limited
- UN Military Gender Advocate of the Year Award – Major Radhika Sen
Important day
8 June – World Oceans Day
- The United Nations marks World Oceans Day each year on 8 June through a annual event coordinated by the Division for Ocean Affairs and the Law of the Sea (Office of Legal Affairs).
- Objective – To create awareness and urge people to take measures in ensuring to restore the health of the oceans of the world.
- Theme 2024 – Awaken New Depths
- In 1992, World Oceans Day was proposed at the Earth Summit that took place in Rio De Janeiro. On December 5, 2008, The UN General Assembly designated June 8 to be observed as World Oceans Day every year.
8 June – World Brain Tumour Day
- World Brain Tumour Day is observed globally on 8 June.
- Objective – To raises awareness about brain tumours and supports those affected by this serious condition.
- Theme 2024 – Brain Health and Prevention
- The history of World Brain Tumour Day goes back 24 years when it was first observed in the year 2000 by a Leipzig-based NPO Deutsche Hirntumorhilfe e.V or German Brain Tumour Association.
Obituary
Eminent wildlife conservation activist, A J T Johnsingh passed away
- Distinguished Indian wildlife conservationist and biologist Asir Jawahar Thomas Johnsingh, also known as A J T Johnsingh, passed away in Bengaluru.
- A J T Johnsingh was 78 years old.
- AJT Johnsingh has authored over 70 scientific papers and more than 80 popular articles on wildlife conservation.
- He was awarded India’s fourth highest civilian award, Padma Shri.
- He was conferred with the 2004 Distinguished Service Award for Government from the Society for Conservation Biology, the ABN AMRO Sanctuary Lifetime Wildlife Service Award in 2005 and the Carl Zeiss Wildlife Conservation Award 2004 for lifetime service to Indian wildlife.
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