CUBIT WEEKLY CURRENT AFFAIRS

INDEX

S No Topic Covered Page No

1 Colombo Process 2
2 Full-Time Secretary of MoSPI 2
3 International Conference on SIDS 3
4 World’s First 3D Printed Space Rocket Engine 4
5 TIME100 Most Influential Companies 2024 5
6 PNB to Sell Stake in Canara HSBC 6
7 Moody’s Projects India’s GDP 7
8 ICICI Prudential Board Chairman 7
9 Dag Hammarskjold Medal 8
10 RBI Annual Report 2023-24 9
11 Gender Sensitisation and Internal Complaints Committee 12
12 '666 Days - Fixed Deposit' 13
13 Exercise Red Flag 24 13
14 New President of Iceland 14
15 FDI Equity Inflows in India 14
16 'Saarthi 2.0' Mobile App 15
17 Yonex Bonn International 2024 16
18 77th World Health Assembly 17
19 NPCI arm signs pact with Peru 19
20 Acting Chairperson of NHRC 20
21 Hindi Sahitya Bharati Award 20
22 AQ-AIMS & Air-Pravah App 21
23 International Day for the Fight Against IUU Fishing. 21
24 STPI Foundation Day 22
25 Dilip Bose Lifetime Achievement Award 23
26 RBI VRRR Auctions 24
27 QS World University Rankings 2025 25
28 1st PSB to Surpass Rs 8 trillion m-cap 26
29 WSIS+20 Forum High-Level Event 26
30 PM -Kisan scheme 28

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1. Colombo Process
• News: India has taken over the
chairmanship of the Colombo Process.
✓ It is for the first time that India has
assumed the chairmanship since its
inception in 2003.
✓ India would lead the grouping for the
period 2024-26.
✓ The Ministry of External Affairs (MEA)
spokesperson Randhir Jaiswal
announced about the chairmanship of
India.
Colombo Process
• The Colombo Process comprises 12 Asian
member states and 8 observer states and
serves as a regional consultative forum.
• It aims to promote the sharing of best
practices related to overseas employment
for countries in South and Southeast Asia
that send migrant workers abroad.
• The 12 member states include Afghanistan,
Bangladesh, Cambodia, China, India,
Indonesia, Nepal, Pakistan, the Philippines,
Sri Lanka, Thailand, and Vietnam.
• The 8 observer states are: Bahrain, Italy,
Kuwait, Malaysia, Qatar, Republic of Korea,
Saudi Arabia and the United Arab Emirates
(UAE).
✓ The founding states include
Bangladesh, China, India, Indonesia,
Nepal, Pakistan, the Philippines, Sri
Lanka, Thailand, and Vietnam.
✓ In the past, it has been chaired by
Afghanistan, Nepal, Sri Lanka, the
Philippines, Indonesia, and
Bangladesh.
• The decisions under Colombo Process are
made by consensus and are non-binding.
• Its main objectives are:
✓ Share experiences, lessons learned and
best practices.
✓ Consult on issues faced by overseas
workers and offer practical solutions.
✓ Optimise development benefits from
organised overseas employment.
✓ Review and monitor the
implementation of the ministerial
recommendations.
• The International Organisation for
Migration (IOM) provides technical and
administrative support to the Colombo
Process.
• The Colombo Process Technical Support
Unit (CPTSU), based in Sri Lanka, provides
technical support to the Colombo Process
in its thematic areas of focus.
International Organization for Migration
(IOM)
✓ Formation: 6 December 1951
✓ Headquarters: Geneva, Switzerland
✓ Membership: 175 member states and 8
observer states
✓ Director General: Amy Pope
2. Full-Time Secretary of MoSPI
• News: Government Appoints Saurabh
Garg, a 1991-batch Odisha cadre IAS
officer, as Full-Time Secretary of Ministry of
Statistics and Programme Implementation.
✓ Before Garg, the MoSPI Secretary was
GP Samanta, who held the position
until April 15, 2024.
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 • Garg also currently serves as Secretary,
Department of Social Justice &
Empowerment.
✓ Also, he has been given charge of
Secretary, National Statistical
Commission (NSC).
• With this order, the government also
announced the appointment of 1991-batch
AGMUT cadre Amit Yadav as Secretary of
Department of Social Justice &
Empowerment.
• Garg has held key positions such as Chief
Executive Officer of the Unique
Identification Authority of India (UIDAI),
Principal Secretary for Agriculture and
Farmers’ Empowerment in Odisha
(working on the KALIA or Krushak
Assistance for Livelihood and Income
Augmentation scheme), and Joint
Secretary, Ministry of Finance.
3. International Conference on SIDS
• News: The International Conference on
Small Island Developing States (SIDS) held
in Antigua and Barbud from 27th to 30th
May 2024.
✓ Edition: 4th
✓ Theme: “Charting the course toward
resilient prosperity”.
✓ Aim: Assessing the ability of SIDS to
achieve sustainable development,
including the 2030 Agenda and its
Sustainable Development Goals.
Blue and Green Islands Integrated Programme
• The United Nations Development
Programme (UNDP) and the Global
Environment Facility (GEF) jointly launched
a new USD 135 million Blue and Green
Islands Integrated Program (BGI-IP) to
support SIDS.
✓ BGI-IP will be managed by the UNDP
and funded by the GEF and partners.
• This initiative aims to emphasise the crucial
role of nature and expand nature-based
solutions to combat environmental
degradation in 3 key sectors, urban
development, food production, and
tourism.
✓ This will support 15 SIDS, which were
selected through a competitive
“Expressions of Interest” process,
representing all SIDS sub-regions (the
Caribbean, the Pacific, and the Atlantic,
Indian Ocean and South China Sea
(AIS)).
• To date, the GEF has provided $1.9 billion
in grant finance to SIDS through national,
global, and regional projects.
✓ The current GEF-8 funding cycle (2022-
2026) continues to provide strong
support and an emphasis on the needs
of SIDS and Least Developed Countries
(LDCs).
Antigua and Barbuda Agenda for SIDS (ABAS)
• During the SIDS4, World leaders adopted
the “Antigua and Barbuda Agenda for SIDS
(ABAS), a Renewed Declaration for
Resilient Prosperity”, and pledged to help
SIDS to achieve their priorities over the
next 10 years.
Global Environment Facility (GEF)
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 • GEF is a multilateral family of funds
established on the eve of the 1992 Rio
Earth Summit.
• GEF Assembly is composed of all 186
member countries, or participants.
✓ CEO: Carlos Manuel Rodriguez
✓ Headquarters: Washington, D.C., USA
United Nations Development Programme
(UNDP)
✓ Formation: 22 November 1965
✓ Headquarters: New York City
✓ Head: Achim Steiner
4. World’s First 3D Printed Space Rocket Engine
• News: IIT Madras Startup Agnikul Cosmos
Launches World's First Rocket Featuring
Fully 3D-Printed Engine.
✓ The rocket Agnibaan SOrTeD (Sub
Orbital Technological Demonstrator) is
also India’s first semi-cryogenic engine-
powered rocket launch that was
completely designed and
manufactured indigenously.
• It was launched from India’s first privately
developed launchpad called ‘Dhanush’
established by Agnikul at Sriharikota in
Andhra Pradesh.
• The aim is to demonstrate in-house and
homegrown technologies, gather crucial
flight data, and ensure the optimal
functioning of systems for Agnikul’s orbital
launch vehicle, the ‘Agnibaan’.
• With this, AgniKul becomes the second
private company to launch a rocket after
India's first privately developed rocket,
from the company Skyroot, flew in 2022.
Agnibaan
• Agnibaan is a two-stage rocket with a
capacity to carry up to 300 kg to a height of
700 km.
• The rocket engines are powered by liquid
oxygen or kerosene.
• The rocket will be 18 meters long with a
diameter of 1.3 meters.
• It can access both low- and high-inclination
orbits and is completely mobile, designed
for accessing more than 10 launch ports.
• The first stage is powered by 7 Agnilet
engines.
• This was the 5th attempt by Agnikul to
launch the Agnibaan SOrTeD since March
22.
3D printing, also known as additive
manufacturing, is a process of creating three
dimensional objects from digital models by
adding material layer by layer.
It is an additive process, in which layers of a
material like plastic, composites or
biomaterials are built up to construct objects
that range in shape, size, rigidity and colour.
The most common 3D printing raw materials
are the commodity thermoplastic polymers:
Acrylonitrile butadiene styrene (ABS),
Polylactic acid (PLA), Polyethylene
terephthalate glycol modified (PETG).
Agnikul Cosmos Private Limited
• It is an Indian aerospace manufacturer
based in National Centre for Combustion
R&D (NCCRD) of IIT Madras, Chennai
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 ✓ Established: 2017
✓ Headquarters: Chennai, Tamil Nadu
✓ CEO: Srinath Ravichandran
5. TIME100 Most Influential Companies 2024
• News: Three Indian companies have been
included in the annual Times Magazine
Global 100 Most Influential Companies of
2024.
✓ The companies are Reliance Industries
Limited (RIL), Tata Group and Serum
Institute of India (SII).
• This is the 4th edition of TIME’s annual list
featuring world’s most Most Influential
Companies.
✓ The 1st edition of the list was released
in 2021.
• The Times Magazine Global 100 most
influential companies list categorised the
companies into five categories:
➢ Titans
➢ Leaders
➢ Disrupters
➢ Innovators
➢ Pioneers
✓ Reliance Industries Limited and the
Tata Group were included in the Titan
category.
✓ While the vaccine maker Serum
Institute of India was included in the
Pioneer category.
• In 2023, Only 2 Indian companies, Meesho
(e-commerce company) and National
Payments Corporation of India (NPCI),
were featured in the list.
Reliance Industries Limited (RIL)
• Reliance Industries Limited (RIL) is India’s
largest and most profitable private sector
company, operating in petrochemicals, oil
and gas, telecom, retail, and financial
services.
• This is the second time RIL, or its subsidiary
company has been included in the Times
list.
• In 2021, Jio, a subsidiary of RIL, was
included in the first Times Magazine Global
100 Most Influential Companies.
• Mukesh Ambani, the Chairman and
Managing Director (CMD) is also the richest
person in Asia and was ranked the 10th
wealthiest man in the world by the 13th
Hurun Global Rich List.
• Reliance Retail ranked among the top 100
global retailers with over 1.06 billion
footfalls over 18000 stores in FY2024.
• RIL owns and operates the world’s largest
single-location oil refinery at Jamnagar,
Gujarat.
• RIL has set an ambitious goal to achieve net
zero carbon emissions by 2035.
Tata Group
• Tata Group, established in 1868, has vast
portfolio ranging from steel, software,
watches, and chemicals, to salt, grains,
fashion, and hotel.
• N Chandrasekran, Chairman of Tata Group
since 2017, has transformed the group by
making investment in tech manufacturing,
Artificial Intelligence (AI) and Semi-
conductor chips.
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 • Tata Steel set up India’s first modern steel
plant in Jamshedpur, Jharkhand, in 1907.
• Tata Motors was the first company to
design and produce the first car made by
an Indian company in India: Indica.
• The Tata Consultancy Company (TCS) is
Asia's largest software consultancy
company.
• In 2023, Tata Group became the 1st Indian
company to assemble iphones in India.
• Tata Group announced a collaboration with
Nvidia to develop an AI cloud in India.
Serum Institute of India (SII)
• Serum Institute of India (SII) is a privately
held vaccine manufacturing company
based in Pune, Maharashtra.
• Serum Institute was founded by Cyrus
Poonawala, and his son Adar Poonawala is
currently its Chief Executive Officer (CEO).
• It is the world’s largest vaccine
manufacturer, producing polio, diphtheria,
BCG, measles, rubella, and HPV vaccines.
• World Health Organisation (WHO) awarded
the prequalification status to R21, or
Matrix-M malaria vaccines developed
jointly by SII and University of Oxford.
TIME Magazine
• Time Magazine is an American multimedia
company which started publishing a
weekly magazine, Time, in 1923. It has
grown to become a global multi-media
brand.
✓ CEO: Jessica Sibley
✓ Headquarters: New York, USA
✓ Created: 1923
6. PNB to Sell Stake in Canara HSBC
• News: Punjab National Bank’s (PNB) Board
approved the initiation of process for
divesting 10% shareholding in its associate
company Canara HSBC Life Insurance
through an initial public offering (IPO)
route.
✓ Currently, PNB holds a 23% stake in
Canara HSBC Life Insurance.
✓ After the merger of erstwhile Oriental
Bank of Commerce (OBC) with PNB in
2020, PNB acquired 23% stakes in the
life insurer.
• This latest PNB move comes on the heels of
the Board of Canara Bank giving its
approval for initiating the process of
diluting 14.50 per cent stake in its
subsidiary Canara HSBC Life Insurance.
✓ Currently, Canara Bank has a 51 per
cent stake in the life insurer, while HSBC
has a 26 per cent stake in the joint
venture.
• For the fiscal year ending March 31, 2024,
Canara HSBC Life reported a surplus of
₹182 crore, marking a notable 15%
increase from the previous fiscal's surplus
of ₹158 crore.
An Initial Public Offer (IPO) is the selling of
securities to the public in the primary
market. It is the largest source of funds with
long or indefinite maturity for the company.
An IPO is an important step in the growth of
a business.
Punjab National Bank (PNB)
✓ Founded: 19 May 1894
✓ Headquarters: New Delhi
✓ MD & CEO: Atul Kumar Goel
Canara HSBC Life Insurance
• It was a joint venture between Canara
Bank, HSBC Insurance (Asia Pacific)
Holdings Limited and Punjab National
Bank.
✓ Founded: 2008
✓ Headquarters: Gurgaon, Haryana
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 ✓ CEO: Anuj Mathur Moody’s Ratings
• Moody’s Ratings, formerly Moody’s
7. Moody’s Projects India’s GDP
Investors Service (MIS) is a leading global
• News: Moody’s Ratings’ Global Macro provider of credit ratings, research, and risk
Outlook 2024-25 (May 2024 update) has analysis.
projected India’s Gross Domestic Product ✓ President & CEO: Robert Fauber
(GDP) to grow by 6.8% in 2024. ✓ Headquarters: New York, USA
✓ It has also projected India’s GDP to
grow by 6.5% in 2025. 8. ICICI Prudential Board Chairman
✓ Attributing to strong economic
• News: The Insurance Regulatory and
expansion and post-election policy
Development Authority of India (IRDAI) has
continuity.
approved the appointment of Sandeep
✓ Moody’s anticipates that Indian
Batra, as Chairman of the Board of
economy should register 6-7% annual
Directors of ICICI Prudential Life Insurance
real GDP growth.
Company Limited (ICICI Prudential Life).
• India’s real GDP surged to 7.7% in 2023 (up
from 6.5% in 2022), driven by robust
government capital spending and
manufacturing activity.
• The 2024 interim budget targets a capex of
Rs 11.1 lakh crore, or 3.4% of GDP in 2024-
25, 16.9% above the 2023-24 estimates.
• Despite sporadic food price pressures,
inflation eases to 4.8% (headline) and 3.2%
(core) in April 2024.

GDP is one of the most common indicators

used to track the health of an economy.
GDP represents the value of all goods and
services produced within a country in a
specific time. In this, the foreign companies
which produce within the country's borders
are also included.
A formula is used to calculate GDP:
GDP = C+G+I+NX
C stands for private consumption
G stands for government spending
I stands for investment
NX stands for Net Export
✓ The appointment will be effect from 30
June 2024.
✓ He will replace the incumbent M S
Ramachandran, who is set to retire as
Chairman of the Board on 30 June
2024.
• Batra has been associated with ICICI Group
since 2000 and has been an Executive
Director on the Board of ICICI Bank since
2018.
• He also serves on the board of ICICI
Prudential Life Insurance, ICICI Lombard
General Insurance, ICICI Prudential Asset
Management, and ICICI Ventures.

7
 • He has been a founder member of ICICI
Prudential Life, where he worked as Chief
Financial Officer (CFO) from September
2000 till 2006.
• He also served as Executive Director and a
member of its Board from January 2014 to
July 2018 and as a Group Compliance
Officer at ICICI Bank.
ICICI Prudential Life Insurance Company
Limited (ICICI Prudential Life)
• ICICI Prudential Life was incorporated on
20 July 2000 as a public limited company
under the Companies Act, of 1956, and
commenced Operations in 2001.
• It is promoted by ICICI Bank Limited and
Prudential Corporation Holdings Limited
✓ MD & CEO: Mr. Anup Bagchi
✓ Headquarters: Mumbai, Maharashtra
9. Dag Hammarskjold Medal
• News: Indian peacekeeper Naik Dhananjay
Kumar Singh will be posthumously
awarded the prestigious Dag
Hammarskjold Medal for his service and
sacrifice.
• Naik Dhananjay Kumar Singh served under
the United Nations (UN) flag as part of
MONUSCO (United Nations Stabilisation
Mission in the Democratic Republic of
Congo).
✓ He lost his life in the line of duty,
demonstrating unwavering
commitment to peacekeeping efforts.
✓ MONUSCO took over from a previous
U.N. peacekeeping mission in the
African country in 2010.
✓ MONUSCO aims to protect civilians,
humanitarian personnel, and human
rights defenders from the imminent
threat of physical violence and to
support the government of the country
in its stabilisation and peace
consolidation efforts.
• The Dag Hammarskjold medal was
established in December 2000 as a
posthumous award to members of
peacekeeping operations who lost their
lives during service with a peacekeeping
operation under the operational control
and authority of the United Nations.
• It is named after former UN Secretary-
General Dag Hammarskjold, who died in a
plane crash while on a peacekeeping
mission in 1961.
• Each year on Peacekeeper's Day (29th
May), this medal is awarded to any
Member State who has lost one or more
military or police peacekeepers at a
ceremony at headquarters of the UN.
International Day of UN Peacekeepers
• The International Day of UN Peacekeepers
was established by the UN General
Assembly in 2002.
• It is to pay tribute to all men and women
serving in peacekeeping, and to honour the
memory of those who have lost their lives
in the cause of peace.
• 2024 Theme: 'Fit for the future, building
better together', emphasises the evolution
and adaptability of UN Peacekeeping to
address future conflicts.
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 India's Contribution to UN Peacekeeping
• India is the second largest contributor of
uniformed personnel to UN Peacekeeping.
• Over 200,000 Indians have served in 49
U.N. Peacekeeping missions since 1948.
• Presently, the Indian Armed Forces are
deployed across nine countries in
peacekeeping missions.
• 160 Indian Army soldiers have made the
ultimate sacrifice for global peace.
• The Indian Army has established a Centre
for UN Peacekeeping (CUNPK) in New Delhi
to impart niche training in peacekeeping
operations.
• This Centre trains more than 12,000 troops
every year.
• India has deployed Female Engagement
Teams (FETs) in the Democratic Republic of
Congo and Abyei, the second-largest Indian
women contingent after Liberia.
• Despite significant contributions, India has
expressed discontent with the UN Military
Observer Group in India and Pakistan
(UNMOGIP), deeming it outdated post the
1972 Simla Agreement which established
the Line of Control (LoC).
10. RBI Annual Report 2023-24
• News: The Reserve Bank of India’s (RBI)
Annual Report 2023-24 has been released
and presented to the Central Government.
✓ It is done under the Section 53 (2) of
the Reserve Bank of India Act,1934.
✓ It is a statutory report that provides a
comprehensive analysis of the global
and domestic economic environment,
the working and operations of the RBI,
and the prospects for the forthcoming
year.
✓ The report includes detailed sections
on various economic indicators, policy
measures, financial inclusion,
regulatory developments, and more.
Below is a summary of the key points
and details from the report:
Key Insights from the Report:
Real GDP growth
• RBI forecasts the Real GDP growth at 7% for
the current fiscal year 2024-25.
• This will be the third successive year of 7
per cent or above growth.
• The economy’s real GDP growth increased
to 7.6 per cent from 7.0 per cent in 2023-
24.
• The Gross Fixed Capital Formation (GFCF)
increased to 10.2 per cent in 2023-24 from
6.6 per cent in 2022-23 showing
investment as the major contributor of
domestic demand backed by government
spending on infrastructure.
• Headline inflation softened to 5.4% during
2023-24 from 6.7% in the previous year.
Fiscal and External Sector
• The central government achieved fiscal
consolidation commitments, with the gross
fiscal deficit (GFD) declining to 5.9% of GDP
in 2023-24 from 6.4% in the previous year.
• Revenue spending growth was contained
at 2.5%, while capital expenditure grew in
double digits for the fourth consecutive
year.
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• India’s merchandise exports fell by 3.1% in
2023-24, driven by declines in global trade
volume and commodity prices, while
imports fell by 5.7%.
• The current account deficit (CAD)
moderated to 1.2% of GDP during April-
December 2023 from 2.6% a year ago.
• Foreign exchange reserves rose to an all-
time high of US$ 648.7 billion, covering
11.4 months of imports.
Financial Inclusion and Digitalisation
• The Financial Inclusion Index (FI-Index)
improved from 56.4 in March 2022 to 60.1
in March 2023, reflecting deepening
financial inclusion.
• The rapid momentum of online retail and
e-commerce drove overall growth in card
transactions, with significant growth in the
Bharat Bill Payment System (BBPS).
• The UPI platform achieved significant
milestones, surpassing 13 billion
transactions in a single month in March
2024.
RBI’s FY24 Income
• The RBI Annual report indicated a 17%
increase in FY24 income to ₹2,75,572.32
crore.
• Expenditure on the other hand, declined by
56.3% to Rs.64,694.33 crore from
₹1,48,037.04 crore in FY2023.
• The size of the RBI’s balance sheet
increased by 11% to ₹70.47 lakh crore from
63.44 lakh crore in FY23.
• Net income increases to 2.11 lakh crore (17
percent) in the financial year 2024 as
compared to ₹87,420 crore in FY23.
• The Reserve Bank of India gained an
amount of Rs. 83,616 crores from foreign
exchange transactions while interest
income from foreign securities increased to
₹65,328 crore.
• RBI attributed the increase on assets side
was due to rise in foreign investments,
gold, and loans and advances by 13.90
percent, 18.26 percent and 30.05 percent,
respectively.
• The central bank’s domestic assets
constituted 23.31 percent while foreign
currency assets, gold (including gold
deposit and gold held in India) and loans
and advances to financial institutions
outside India constituted 76.69 percent of
total assets as of March 31, 2024, as
against 26.08 percent and 73.92 percent,
respectively, as of March 31, 2023.
Sovereign Gold Bonds purchased in FY24
• Investors have purchased a total of
Rs.27,031 crore of Sovereign Gold Bonds in
2023-24 which is four imes of the amount
purchased in 2022-23.
• The bonds bought by investors represented
worth 44.34 tonnes of gold during 2023-24
while 12.26 tonnes of gold were purchased
in 2022-23.
Monetary penalties imposed by RBI
• The monetary penalties imposed by the
RBI on regulated entities (REs) has doubled
to ₹86.11 crore in FY24 as compared to
Rs.40.39 crore in FY23.
• In FY24, the central bank imposed
monetary penalties on 281 REs (public
sector banks, private sector banks, foreign
banks, payments banks, small finance
banks, regional rural banks, co-operative
banks, Non-Banking Financial Companies
(NBFCs), Credit Information Companies
(CICs) and Housing Finance Companies
(HFCs)) against 211 in FY23.
Cost of production for kharif and rabi crops
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• The Minimum Support Prices (MSPs) for
both Kharif and Rabi seasons 2023-24
ensured a minimum return of 50% over the
cost of production for all crops. MSPs in
2023-24 were increased in the range of 5.3-
10.4% for the kharif crops and 2.0-7.1% for
the rabi crops.
• The production of kharif and rabi
foodgrains in 2023-24 was 1.3% lower than
the final estimates of the 2022-2023.
• Moong witnessed the maximum MSP
increase among kharif crops, while the
lentils (masur) and wheat saw the highest
rise among rabi crops.
Currency in circulation by value
• The share of the Rs 500 note in value terms
of the total currency in circulation
increased to 86.5% as of March 31, 2024,
from 77.1% in March 2023.
• The increase in the share of the Rs 500 is
due to the decline in the share of the Rs
2000 note, which was only 0.2% at the end
of FY23.
• The value and volume of banknotes in
circulation rose by 3.9% and 7.8%
respectively, during 2023-24 compared
with an increase of 7.8% and 4.4%
respectively during 2022-23.
• The value of the total currency in
circulation as of 31st March 2024 stood at
Rs 34.8 trillion, up by around Rs 10 trillion
in the last 5 years, from Rs 24.21 trillion in
March 2020.
RBI to open rupee accounts outside India
• RBI allowed persons resident outside India
(PROIs) to open rupee accounts as part of
its 2024-25 agenda for globalising the
domestic currency. This will allow Indian
banks to lend in rupees to the PROIs.
• This will boost the use of the rupee and
other domestic currencies in the Asian
Clearing Union (ACU) mechanism.
• The RBI has finalised a strategic action plan
for 2024-25 and included liberalisation of
external commercial borrowing (ECB)
framework and ‘Go-live’ for phase I of
software platform for ECBs and trade
credits reporting and approval (SPECTRA)
project.
RBI and NPCI to expand UPI to 20 countries
• RBI and NPCI International Payments
Limited (NIPL), the international arm of the
National Payments Corporation of India
(NPCI), are working towards expanding UPI
to 20 countries by FY29.
• UPI payment through QR code is accepted
for merchant (e-commerce) payments in
France and Nepal.
• UPI connectivity between India and Sri
Lanka was launched in February 2024, to
enable Indian travellers to make QR code-
based payments in Sri Lanka.
• RBI and Central Bank of the United Arab
Emirates (UAE) singed MoU to interlink
payments infrastructure. Under this MoU,
India’s UPI and UAE’s Instant Payment
Platform (IPP) called Aani were linked.
Greenfield Next-Gen Data Centre
• RBI has begun a project to build a new
state-of-the-art greenfield next-generation
data centre to address capacity expansion
constraints, meet the increasing IT
landscape needs and avoid region-specific
risks.
• The centre, which will commence
operation in FY25, will also cater to the
internal needs of RBI and its subsidiaries.
Reserve Bank of India (RBI)
✓ Headquarters: Mumbai, Maharashtra
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 ✓ Establishment: April 1, 1935
✓ Governor: Shaktikanta Das
✓ Deputy Governors:
➢ Swaminathan Janakiraman
➢ Michael Debabrata Patra
➢ M. Rajeshwar Rao
➢ T. Rabi Sankar
11. Gender Sensitisation and Internal Complaints
Committee
• News: The Supreme Court of India has
reconstituted its Gender Sensitisation and
Internal Complaints Committee.
✓ The appointments have been made by
the Chief Justice of India (CJI) Dr. DY
Chandrachud in exercise of powers
conferred by Clause 4(2) of the Gender
Sensitisation & Sexual Harassment of
Women at the SC of India (Prevention,
Prohibition & Redressal) Regulations,
2013
• The committee comprises a total of 12
members.
• The committee includes representatives
from various legal bodies, ensuring diverse
perspectives.
✓ These bodies include:
➢ Supreme Court Bar Association
➢ Supreme Court Advocate-on-
Record Association
➢ Supreme Court Bar Clerks’
Association
• Justice Hima Kohli has been appointed as
Chairperson to head the committee.
✓ Dr. Sukhda Pritam, Additional Registrar
will serve as the Member Secretary.
✓ Justice BV Nagarathna will serve as
Members.
✓ Advocate Soumyajit Pani will serve as a
representative of the Supreme Court
Bar Association (SCBA).
✓ Anindita Pujari as representative of the
Advocate-on-record at the SC
Association.
✓ Ms. Madhu Chauhan as representative
of the SC Advocates Association
• Members nominated by the Chief Justice of
India bring a blend of legal expertise and
academic proficiency. T
✓ These include:
➢ Shruti Pandey
➢ Jaideep Gupta
➢ Dr. Leni Chaudhuri
➢ Dr. Menaka Guruswamy
Hima Kohli
• Hima Kohli was appointed as Additional
Standing Counsel Civil, Government of
National Capital Territory of Delhi in the
Delhi High Court (HC) in December 2004.
• She was appointed as an Additional Judge
of the HC of Delhi on May 29, 2006, and
took oath as a permanent Judge on August
29, 2007.
• She was sworn-in as the Chief Justice of HC
of Telangana on January 7, 2021.
• She was appointed as Judge of SC of India
on August 31, 2021.
Supreme Court (SC) of India
✓ Chief Justice of India (CJI): Dhananjaya
Y. Chandrachud
12
 ✓ Headquarters: New Delhi, Delhi
12. '666 Days - Fixed Deposit'
• News: Bank of India (BoI) has launched a
special fixed deposit plan called '666 Days -
Fixed Deposit', offering attractive returns
on deposits for a tenure of 666 days.
• The FD scheme offers very attractive
returns on deposits as high as 7.95% per
annum for super senior citizens for 666
days for a deposit amount of less than Rs 2
crore.
✓ Super senior citizens are those who are
80 years of age or above.
• On this 666-day FD, senior citizens will get
7.80% per annum.
• Other age customers will get 7.30 per cent
per annum.
✓ The revised interest rates are
applicable for domestic, NRO and NRE
Rupee Term deposits, which are
effective from June 1, 2024.
• Loan against Fixed Deposit is available.
• Premature Withdrawal facility is available.
In March 2024, State Bank of India (SBI), the
largest lender in India, increased the pricing
on short-term retail fixed deposits by 25-75
basis points, with the peak offering reaching
6.25%. This move by SBI may prompt other
banks to adjust their interest rates amidst
rising credit demand and falling liquidity in
the market.
Bank of India
✓ Established: 7 September 1906
✓ Headquarters: Mumbai, Maharashtra
✓ MD & CEO: Rajneesh Karnatak
✓ Tagline: Relationship beyond Banking
13. Exercise Red Flag 24
• News: The Indian Air Force (IAF) contingent
has reached Eielson Air Force Base in
Alaska, USA, to participate in Red Flag 24.
✓ The IAF contingent comprises of eight
Rafale fighter jets, one C-17
Globemaster transport aircraft, and
one IL-78 air-refueler.
• Red Flag 24 is scheduled from May 30 to
June 14, 2024, covering an area of
approximately 77,000 square miles.
✓ This year's exercise involves air forces
from four countries, including the
United States and India.
✓ A total of 100 aircraft and 3100 airmen
are participating.
• Red Flag 24 is a two-week advanced aerial
combat training exercise aimed at
integrating aircrew in a multinational
environment.
✓ It is designed to replicate a realistic and
challenging environment, bringing
together aircrew and equipment from
different nations and services.
• The IAF deployed Rafale fighter jets for the
Red Flag 24 exercise.
• Since its inception in 1975, Red Flag
exercises are designed to create a
comprehensive learning environment by
simulating realistic combat scenarios.
• There are two distinct Red Flag exercise
locations: Nellis Air Force Base in Nevada
and Eielson Air Force Base in Alaska.
✓ The exercise in Nevada is organised by
the United States Air Force Warfare
Center (USAFWC).
✓ The first Red Flag exercise in 2024 is
called 24-1, which was exclusively for
the US Air Force.
• The exercise in Alaska is organised by the
Pacific Air Forces (PACAF), the air
component command of the United States’
Indo-Pacific Command (USINDOPACOM).
13
 • The Indian Air Force first participated in the
Red Flag exercise in the year 2008, marking
its involvement in this multinational
training event.
Indian Air Force (IAF)
✓ Established: 1932
✓ Headquarters: New Delhi, Delhi
✓ Chief of the Air Staff: Air Chief Marshal
Vivek Ram Chaudhari
14. New President of Iceland
• News: Halla Tomasdottir, a businesswoman
and Chief Executive Officer (CEO) of B
Team, has been elected as the 7th President
of Iceland.
15. FDI Equity Inflows in India
✓ Tomasdottir will assume office on
August 1, 2024, replacing the current
President Gudni Johannesson, who did
not seek re-election after two-four-year
terms in office.
• She will be the 2nd woman to hold the
office after Vigdis Finnbogadottir, who was
the first woman in the world to be
democratically elected as president in
1980.
• Halla Tomasdottir received 34.3% of the
vote while Iceland's former Prime Minister
Katrina Jakobsdottir won 25.2%.
• The president of Iceland has a primarily
ceremonial role in the parliamentary
republic, serving as a guardian of the
constitution and national unity.
✓ The President of Iceland has a term of
four years.
• Tomasdottir is also the founder of Audur
Capital, an investment firm created in 2007
aimed at promoting feminine values in the
financial sector.
✓ Her campaign focused on issues such as
the effects of social media on the
mental health of youth, tourism
development, and the role of artificial
intelligence.
Iceland
✓ Prime Minister: Bjarni Benediktsson
✓ Capital: Reykjavík
✓ Currency: Icelandic krona
• News: India receives highest Foreign Direct
Investment (FDI) from Singapore in 2023-
24.
✓ Though Singapore emerged as the
biggest investor in India but, FDI from
Singapore decreased by around 32% to
USD 11.77 billion in FY24.
✓ Singapore has been the largest source
of FDI for India since 2018-19.
• FDI equity inflows into the country
decreased by about 3.5% in FY24, from
14
 USD 46.03 billion (FY23) to USD 44.42
billion (FY24) due to global economic
uncertainties.
✓ India received the highest ever FDI
inflows of USD 84.83 billion in FY22
(2021-22).
• The total FDI saw a negligible decrease of
1%, from USD 71.35 billion (in FY23) to USD
70.95 during FY24.
• The report is released by Department for
Promotion of Industry, and Internal Trade
(DPIIT), Ministry of Commerce and Industry
the Government of India (GoI).
gains exemption in India for investments
made from Singapore.
• India amended its tax treaty with Mauritius
in 2016 to introduce a source-based
taxation regime for capital gains, which
eliminated the tax advantage and reduced
attractiveness of Mauritius as largest
source of FDI in India.
Singapore
✓ Capital: Singapore
✓ Prime Minister: Lawrence Wong
✓ Currency: Singapore Dollar (SGD)

Biggest Investors in India (FY24): 16. 'Saarthi 2.0' Mobile App

• News: Capital markets regulator Securities
Position Country Investment
(USD) and Exchange Board of India (SEBI) has
launched a mobile app, ‘Saarthi 2.0’,
1 Singapore 11.77 billion focused on personal finance for investors.

2 Mauritius 7.97 billion

3 USA 4.99 billion

4 Netherlands 4.93 billion

5 Japan 3.17 billion

6 UAE 2.9 billion

7 Germany 505 million

8 Cayman Island 342 million ✓ The app provides comprehensive tools

Factors which promoted Singapore as the
largest source of FDI in India:
• Initiatives led by GoI such as: amendments
by the Security Exchange Board of India
(SEBI) to the Real Estate Investments Trusts
(REITs) Regulations 2014.
• The Double Tax Avoidance Agreement
(DTAA) between India and Singapore has
provided many benefits such as: capital
aimed at simplifying complex financial
concepts and enhancing investor
education.
• The app includes financial calculators and
has modules that explain Know Your
Customer (KYC) procedures, mutual funds,
Exchange Traded Funds (ETFs).
• By using this app, investors can buy and sell
shares on stock exchanges.

15
 • It has investor grievances redressal
mechanism and Online Dispute Resolution
(ODR) platform.
• It also features various videos which are
designed specifically to help the investors
in their personal financing.
• The app is particularly useful for young
investors who are at the beginning of their
financial journey, providing them with
essential tools and insights for investment
planning.
✓ It serves to connect with an investing
public increasingly transacting over
mobile phones.
• The first version of Saarthi was launched in
January 2022.
Securities and Exchange Board of India (SEBI)
✓ She defeated Wang Pei Yu of Chinese
Taipei.
• Yonex Bonn International 2024, a
Badminton World Federation (BWF) Future
Series Event, was held from 29th May to 1st
June 2024 in Bonn, Germany.
• Tanvi Sharma from Punjab has won the
gold medal for the Indian Women’s Team at
the Badminton Asia Team Championships
in Selangor, Malaysia, in February 2024.
✓ She has also won a silver medal at the
Badminton Asia Under 17 (U-17) Junior
Championship in Chengdu, China in
2023.
Winners of Yonex Bonn International 2024:
Category Winner Runner-Up

• Established on 12 April 1988 as an Men’s Cheng Kai Gustav

executive body and was given statutory Singles (Chinese Bjorkler
powers on 30 January 1992 through the Taipei) (Sweden)
SEBI Act, 1992.
Women’s Tanvi Wang Pei Yu
• SEBI is the regulatory body for securities
Singles Sharma (Chinese
and commodity markets in India under the
(India) Taipei)
ownership of the Ministry of Finance
(MoF), GoI. Men’s Cheng Kai Noah Hasse
✓ Headquarters: Mumbai, Maharashtra Doubles and Wei and Dyon van
✓ Chairman: Madhabi Puri Buch (first Cheng Su Wijlick
woman to lead the SEBI) (Chinese (Netherlands)
Taipei)
17. Yonex Bonn International 2024
Women’s Yasemen Yi En Hsieh
• News: Indian shuttler Tanvi Sharma (15
Doubles Bektas and and Ruo
years old) won the Women’s Singles title at Zehra Erdem Hsuan Ko
the Yonex Bonn International 2024. (Türkiye) (Chinese
Taipei)

Mixed Alden Emren

Doubles Lefilson Sonmez and
Putra Yasemen
Mainaky and Bektas
Fitriani (Türkiye)
(Indonesia)

16
 • In the women’s doubles category, the
Indian women duo of Srinidhi Narayanan
and Radhika Sharma finished 3rd.
• In Men’s doubles, Prakash Raj and Gouse
Sheik finished 3rd.
Bonn International Tournament
• The Bonn International (Yonex Bonn
International) is an annual international
badminton tournament held in Bonn,
Germany.
• The inaugural edition of the tournament
was held in 2019.
✓ The 2020 and 2021 editions were
cancelled due to the COVID-19
pandemic.
• The tournament is part of the BWF’s Future
Series and a part of the Badminton Europe
Elite Circuit.
18. 77th World Health Assembly
• News: The 77th World Health Assembly
(WHA 77) held in Geneva, Switzerland.
✓ From: 27th May to 1st June
✓ Theme 2024: “All for Health, Health for
All”
• Apurva Chandra, Secretary, Ministry of
Health and Family Welfare (MoHFW)
represented India at the WHA 77.
• World Health Assembly, the decision-
making body of World Health Organization
(WHO), is attended by delegations from all
194 Member States of WHO.
• WHA 77 opened with the election of Dr
Edwin Dikoloti of Botswana as the
President of the WHA.
✓ Those who are elected as Vice
Presidents are:
➢ Dr Frank C.S. Anthony (Guyana)
➢ Dr Youngmee Jee (Republic of
Korea)
➢ Dr Ala Nemerenco (Republic of
Moldova)
➢ Dr Ali Haji Adam Abubakar
(Somalia)
➢ Dr P.G. Maheepala (Sri Lanka)
Indian participation:
• India hosted a side event on Women,
Children and Adolescent Health.
✓ It is in partnership with Norway, United
Nations Children’s Fund (UNICEF),
United Nations Population Fund
(UNFPA) and Partnership for Maternal,
Newborn and Child Health (PMCH) in
Geneva, Switzerland.
• The objective is to share emerging
evidence and discoveries, to foster
dialogue on important opportunities for
investment in maternal, newborn, child
and adolescent health and well-being.
• India’s initiatives like Reproductive and
Child Health (RCH) – I, RCH – II and the
Rashtriya Kishor Swasthya Karyakram focus
on stressed on adolescent health.
• Tele Mental Health Assistance and
Networking Across States (Tele-MANAS), is
one of the key initiatives of India which
aims to provide free 24×7 tele-mental
health services across India.
✓ The Union Government aims to open at
least one Tele-MANAS Cell in each
State/UT.
17
• Co-WIN is being transformed into UWIN for Other Awards:
the National Immunization Programme.
• A total of eight 2024 laureates were
✓ It will aid in linking and providing honoured with the public health prizes and
immunization record of 30 million awards during a Plenary of the WHA 77
newborn and mothers every year 2024.
followed by Anganwadi and school
health record. Award Winner Country
Nelson Mandela Award for Health Promotion
Dr LEE Jong-
• The National Institute of Mental Health and wook Dr Bader Al- Oman
Neurosciences (NIMHANS), Bengaluru has Memorial Rawahi
been honoured with the prestigious Nelson Prize for
Mandela Award for Health Promotion for Public Health
2024 by WHO.
Sasakawa Dr Doreen Botswana
✓ NIMHANS is India’s premier Mental
Health Prize Ramogola-
Health Institute under the Ministry of Masire
Health and Family Welfare, (MoHFW).
• The award recognised the exception United Arab The National
contributions of NIMHANS in promoting Emirates Death
mental health and well-being. Health Registry
Foundation System Saudi Arabia
• Pratima Murthy, Director of NIMHANS
received the award at special ceremony Prize Ministry of
held at WHA 77. Health of
Saudi Arabia
✓ The award was presented by Dr. Edwin
Dikoloti, President, World Health Highness
Assembly along with Dr. Tedros The Chinese
Sheikh Sabah
Adhanom Ghebreyesus, Director Geriatrics
Al-Ahmad Al-
General (DG), WHO. Society China
Jaber Al-
• Eminent Public Health Advocate and Sabah Prize & &
Tobacco Activist, Professor Bontle for Research Dr Ahmed
in Health Oman
Mbongwe (Botswana) also received the Hamed Saif
Nelson Mandela Award for Health Care for the Al Wahaibi
Promotion for 2024. Elderly and from Oman
in Health
• The award was established in 2019 by
Promotion
World Health Organisation (WHO) initiative
of the Ministers of Health of Member Ihsan
States of the African Region. Doğramacı Dr Jamila
Taiseer Oman
✓ The award recognizes individuals, Family
institutions and governmental or Health Yasser Al
Foundation Abri
nongovernmental organisations that
have made a significant contribution to Prize
health promotion.

18
WHO Launched New Investment Round
• During WHA 77, WHO launched a new
Investment Round aiming to raise USD 7
billion of funds to support countries to
tackle global challenges such as: climate
change, displacement, poverty and
inequality.
✓ It is formed on the recommendations
of the WHO Group on sustainable
financing.
✓ It was officially approved at the 154th
meeting of WHO Executive Board in
January 2024
✓ It is a wider plan to transform the
WHO’s funding system into an era of
climate change, mass migration,
pandemic threats, an ageing world
population, among others by 2028.
• Government of Brazil, which holds G20
presidency for 2024, will host high-level
events at the Leaders’ Summit in
November 2024 to encourage more
countries to join the Investment Round.
✓ France, Germany and Norway
announced that they would co-hosts
for the Investment Round.
✓ Countries which showed their support
to Investment Round: Argentina, Brazil,
Canada, Germany, France, Italy, Japan
and the United States of America (USA).
✓ Qatar Minister of Health Dr Hanan
Mohamed Al Kuwari announced a
contribution of $4 million in fully
flexible funds to the Investment Round.
5th Health for All Film Festival (HAFF)
• A total of 61 films were shortlisted out of
the 1000 entries received from filmmakers
across the world on various issues like:
gender equity and war trauma to burnout,
climate change and healthy ageing.
• The Jury of the 5th HAFF includes Nandita
Das, renowned Indian actor, filmmaker and
social advocate.
✓ She presented the HAFF Health
Emergencies "Grand Prix" award to a
representative from the Independent
Doctors Association of Türkiye (right)
for the film “Journey Beyond the
Rubble”
World Health Organization (WHO)
✓ Headquarters: Geneva, Switzerland
✓ Founded: 7 April 1948
✓ Director General: Tedros Adhanom
✓ Parent organization: United Nations
Economic and Social Council
19. NPCI arm signs pact with Peru
• News: NPCI International Payments
Limited (NIPL) has announced a
partnership with the Central Reserve Bank
of Peru (BCRP) to implement a UPI-like
real-time payments system in Peru.
• This marks NIPL's second partnership with
a central bank to deploy the Unified
Payments Interface (UPI) stack
internationally.
✓ In May, NIPL entered an agreement
with the Bank of Namibia (BoN) to
develop a similar instant payment
system in Namibia.
• Peru will be the first country in South
America to integrate UPI technology into
its digital payment ecosystem.
✓ CEO of NPCI International: Mr Ritesh
Shukla
✓ Governor of the Central Reserve Bank
of Peru (BCRP): Julio Velarde
Peru
✓ Capital: Lima
✓ Currency: Peruvian Sol
19
 ✓ President: Dina Boluarte
NPCI
• National Payments Corporation of India
(NPCI), an umbrella organisation for
operating retail payments and settlement
systems in India, is an initiative of Reserve
Bank of India (RBI) and Indian Banks’
Association (IBA) under the provisions of
the Payment and Settlement Systems Act,
2007, for creating a robust Payment &
Settlement Infrastructure in India.
✓ MD & CEO: Mr. Dilip Asbe
20. Acting Chairperson of NHRC
• News: Smt. Vijaya Bharathi Sayani,
Member of the National Human Rights
Commission (NHRC), has been authorized
to act as the Chairperson of NHRC by the
President.
✓ The appointment is under Section 7(1)
of the Protection of Human Rights Act,
1993.
✓ This appointment will be effective from
June 2, 2024, until the appointment of
a new Chairperson to fill the vacancy.
• Sayani, an advocate practising before the
Telangana High Court was appointed as an
NHRC member in December 2023.
• Sayani will replace Justice (Retd) Arun
Kumar Mishra, who completed his three-
year tenure as the eighth Chairperson of
NHRC on June 1, 2024.
✓ Arun Kumar Mishra served as a former
Supreme Court judge and was the first
non-Chief Justice of India (CJI) to hold
the position of NHRC Chief since the
amendment of the Protection of
Human Rights Act in 2019.
• In 2019, Parliament amended the
Protection of Human Rights Act, 1993, to
revise the eligibility criteria for the posts of
Chairperson of NHRC and State Human
Rights Commissions.
✓ Previously, only a retired Chief Justice
of India was eligible for appointment as
NHRC Chairperson.
✓ However, the amended law allowed
consideration of a judge of the
Supreme Court for the position.
NHRC
• NHRC is a statutory body established on
October 12, 1993, under the Protection of
Human Rights Ordinance of September 28,
1993.
• NHRC is responsible for the protection and
promotion of human rights, which are
defined by the act as "Rights Relating to
Life, liberty, equality, and dignity of the
individual guaranteed by the constitution
or embodied in the international covenants
and enforceable by courts in India."
✓ Headquarters: New Delhi
21. Hindi Sahitya Bharati Award
• News: Krishna Prakash, renowned as the
head of Mumbai Police’s elite counter-
terrorism unit, Force One, has been
honoured with the prestigious Annual
Hindi Sahitya Bharati Award.
✓ The Award underscores his
multifaceted contributions to society,
20
 blending exemplary service in law
enforcement with a deep commitment
to cultural enrichment.
• The award was presented at the Sab Me
Ram Shashwat Shri Ram Multicultural
Festival, Mumbai.
• The Hindi Sahitya Bharati Award celebrates
outstanding contributions to literature and
culture bestowed upon individuals who
exemplify excellence in literary and cultural
endeavours.
22. AQ-AIMS & Air-Pravah App
• News: On World Environment Day (June 5),
Secretary of MeitY, Shri S Krishnan,
inaugurated the Indigenous Air Quality
Monitoring System (AQ-AIMS) and
launched the Air-Pravah App.
23. International Day for the Fight Against IUU
• The Centre for Development of Advanced
Computing (C-DAC), Kolkata, in
collaboration with TeXMIN (ISM, Dhanbad)
and industry partner J M Envirolab Pvt Ltd,
developed the outdoor air quality
monitoring system.
✓ This development is part of the
‘National Programme on Electronics
and ICT Applications in Agriculture and
Environment (AgriEnIcs)’.
AQ-AIMS
• The system monitors environmental
pollutants, including PM 1.0, PM 2.5, PM
10, SO2, NO2, O3, CO, CO2, temperature,
and humidity, providing continuous air
quality monitoring.
• After successful field trials and certification
by the National Physical Laboratory, Delhi,
and TUV India, Pune, the technology
transfer partner M/s J M Envirolab Pvt Ltd
is commercializing the system.
• The AQ-AIMS technology offers a cost-
effective alternative to conventional gold
standard instruments, aligning with the
'Make in India' initiative.
Air-Pravah App
• The AQ-AIMS is integrated with the Air-
Pravah mobile application, which allows for
real-time Air Quality Index (AQI)
monitoring.
✓ It offers fast setup, real-time data
visualisation, unit conversions, AQI
comparison, multi-device support, data
analysis tools, remote monitoring and
automatic updates.
• The AQ-AIMS and Air-Pravah were
developed under Ministry of Electronics
and Information Technology (MeitY)
supported technologies.
Fishing.
21
• News: The United Nations (UN)’s
International Day for the Fight Against
Illegal, Unreported, and Unregulated (IUU)
Fishing is annually observed across the
globe on 5th June.
✓ 5th June 2024 marks the observance of
the 7th International Day for the Fight
Against IUU Fishing.
✓ The day is observed to address the
issue of IUU fishing activities, one of
the greatest threats to marine
ecosystems.
• In 2015, the General Fisheries Commission
for the Mediterranean (GFCM) of the Food
and Agriculture Organization of the UN
(FAO) proposed an initiative to declare an
International Day for the Fight against IUU
fishing.
✓ In December 2017, the United Nations
General Assembly (UNGA) in its annual
resolution on sustainable fisheries,
proclaimed 5th June of every year as
the “International Day for the Fight
Against IUU Fishing.”
In the same resolution, the UN designated
the year 2022 as the International Year of
Artisanal Fisheries and Aquaculture, to
highlight the crucial role of small-scale
fishermen and women, who comprise 90%
of global fisheries.
✓ The first-ever UN recognised
International Day for the Fight Against
IUU Fishing was observed on 5th June
2018.
• IUU fishing undermines global efforts to
sustain fisheries. It results in an annual loss
of 11–26 million tonnes of fish, valued at
USD 10–23 billion.
• It is estimated that 1 in every 5 fish caught,
comes from IUU fishing.
• To curtail this impact, Target 4 of Goal 14 of
the Sustainable Development Agenda
adopted in 2015 by the UN General
Assembly.
Food and Agriculture Organization (FAO)
• It is a specialized agency of the UN that
leads international efforts to defeat
hunger.
✓ Director General: QU Dongyu
✓ Headquarters: Rome, Italy
✓ Founded: 1945
24. STPI Foundation Day
• News: Software Technology Parks of India
(STPI) celebrated its Foundation Day on 5th
June 2024 at a special event held in New
Delhi, Delhi.
✓ Edition: 33rd
✓ Theme: “Positioning Bharat as a Tech
Product Nation”
22
• S. Krishnan, Secretary (MeitY), Arvind
Kumar, Director General (DG) of STPI,
Vishal Dhupar, Managing Director (MD) of
NVIDIA and Tejas Goenka, MD of Tally
Solutions were present during the event.
SayujNet and STPI-Workspace
• STPI launched two new web portals,
SayujNet, a networking and resource
discovery platform, and STPI-Workspace,
an STPI Workspace portal, to strengthen
the tech startup ecosystem in terms of
networking and affordable incubation
space in India.
✓ These portals aim to bolster the tech
startup network and offer affordable
incubation initiatives in India.
“Ananta”
• STPI also announced its new initiative
under the brand name “Ananta”, to
develop a strong cloud network made by
Indians for Indians.
✓ This will offer various cloud computing
services such as:
➢ Software as a Service (SaaS)
➢ Platform as a Service (PaaS)
➢ Infrastructure as a Service (IaaS)
➢ Graphical Processing Unit (GPU)
MoUs signed by STPI:
• STPI signed a MoU with the Sabudh
Foundation to create skill development
initiatives and nurture an entrepreneurial
training ecosystem in DeepTech for
Engineering Graduates.
✓ Punjab-based SABUDH is a non-profit
organisation which trains, educates
and innovates data enthusiasts to
become changemakers of society using
Data Science.
• Bengaluru (Karnataka)-based STPINEXT
initiatives and DBS Bank India Private
Limited signed a MoU to strengthen the
tech startup ecosystem in India.
Software Technology Parks of India (STPI)
• STPI is an autonomous society under the
Ministry of Electronics and Information
Technology (MeitY).
• It is established on 5th June 1991, under
the Societies Registration Act, 1860.
• At present, STPI has established 65 centres
in India.
✓ Director General (DG): Arvind Kumar
✓ Headquarters: New Delhi, Delhi
25. Dilip Bose Lifetime Achievement Award
• News: The 65-year-old Nar Singh, who has
served as a coach and educator for several
years, will be the 11th recipient of the Dilip
Bose award.
✓ The All-India Tennis Association
instituted a lifetime achievement
award in the name of Dilip Bose in
2002.
✓ The award along with a cash prize of
Rs.50,000 presented during the 11th
National coaches workshop held at the
PYC Hindu Gymkhana in Pune on June 7
and 8.
• The secretary general of AITA, Anil Dhupar,
announced a new lifetime achievement
award for women coaches.
23
 • The first award would be presented to the
69-year-old Rohini Lokhande who was a
member of the national team along with
Kiran Bedi, Nirupama Mankad, Susan Das
and Udaya Kumar, before she took to
coaching at a young age.
✓ Rohini was the first woman tennis
coach to qualify from the National
Institute of Sports.
Dilip Bose
• Dilip Bose was a professional tennis player
from India.
• He played for the Indian Davis Cup squad
and was the Asian championship winner.
• He worked as an administrator and coach
after retiring.
• In honour of him, the All-India Tennis
Association established a lifetime
achievement award in 2002.
26. RBI VRRR Auctions
• News: The Reserve Bank of India (RBI)
conducted two variable rate reverse repo
(VRRR) auctions totalling ₹44,430 crore,
aiming to absorb surplus liquidity from the
banking system.
✓ Despite the central bank’s readiness to
absorb up to ₹1-lakh crore, banks
utilized only a portion of the available
amount.
First Auction:
✓ Notified amount: ₹50,000 crore.
✓ Funds deployed by banks: ₹41,730
crore.
✓ Weighted Average Rate (WAR): 6.48%.
Second Auction:
✓ Notified amount: ₹50,000 crore.
✓ Funds deployed by banks: ₹2,700 crore.
✓ WAR: 6.49%.
• The system liquidity surplus increased to
₹28,800 crore (excluding adjustments for
daily cash reserve ratio imbalances).
• The widening of the system liquidity
surplus was primarily due to month-end
government spending.
Repo Auction
• A repo auction is conducted by the central
bank to inject liquidity into the system,
allowing banks to obtain liquidity overnight
through RBI‟s marginal standing facility
when interbank liquidity is insufficient.
Liquidity Adjustment Facility
• A liquidity adjustment facility (LAF) is a tool
used in monetary policy, mainly by the
Reserve Bank of India (RBI), which enables
banks to borrow money through
repurchase agreements (reposals) or banks
to lend to the RBI using reverse repo
contracts.
• It was introduced as a part of the outcome
of the Narasimham Committee on Banking
Sector Reforms of 1998.
In May 2024, The Reserve Bank of India (RBI)
conducted a variable rate repo (VRR) auction
of Rs 1.25 trillion, bringing the total liquidity
infused through 9 VRR auctions in May 2024
to Rs 7.75 trillion.
24
27. QS World University Rankings 2025
Rank University Location
• News: The latest QS World University
Rankings for 2025 were released revealing 1 Massachusetts Cambridge
significant improvements for Indian Institute of (USA)
universities and notable global standings. Technology (MIT)
• The Indian Institute of Technology (IIT)
2 Imperial College London (UK)
Bombay, Mumbai (Maharashtra) and IIT
Delhi, New Delhi (Delhi) featured among 3 University of Oxford Oxford (UK)
the top 150 Universities on the ranking.
✓ IIT Bombay has retained its position as 4 Harvard University Cambridge
the best higher education Institute in (USA)
India, with global ranking of 118th in the
list 5 University of Cambridge
✓ IIT Delhi has improved its rank from Cambridge (USA)
197th (in 2024) to 150th position (in Top 5 Indian Universities:
2025).
• Massachusetts Institute of Technology Indian University Location Global
(MIT), Cambridge, the United States of Rank Rank
America (USA) has topped the list globally
for the 13th time (2012 and from 2014 to 1 IIT Mumbai, 118
2025), with overall score 100. Bombay Maharashtr
a
✓ MIT is followed by Imperial College
London, the United Kingdom (UK) at 2 IIT Delhi New Delhi, 150
the 2nd position with overall score 98.5. Delhi
✓ The University of Oxford (UK) at 3rd
position 3 Indian Bengaluru, 211
✓ Harvard University (USA) at 4th position Institute of Karnataka
• QS World University Rankings 2025, the Science
21st edition the annual ranking of (IISc)
universities based on eight key indicators.
4 IIT Kharagpur, 222
• This edition features 1500 universities Kharagpur West
across 105 Higher education systems. Bengal
✓ With 197 universities, the USA has the
most representation on the 2025 5 IIT Madras Chennai, 227
rankings followed by UK with 90 Tamil Nad
universities and Mainland China with
71 universities. • Out of 46 Indian universities featured in the
list, 61% of them has improved their
✓ India with 46 universities, is the 7th
rankings.
most represented country in the list
and 3rd in Asia. • Guru Gobind Singh Indraprastha University
Bagged the “Rising Star” Award in QS
Top 5 Universities Globally: World Rankings.

25
 • Delhi based Guru Gobind Singh
Indraprastha University (GGSIPU), formerly
known as Indraprastha University (IP
university or IPU), received the honour in
recognition of its significant improvement
among the Indian Institutions in last one
year.
✓ The award was presented by Ben
Sowter, Senior Vice President of QS at
QS EduData Summit 2024 held in
Washington D.C. (USA).
28. 1st PSB to Surpass Rs 8 trillion m-cap
• News: The State Bank of India (SBI)
became the 1st public sector bank and the
7th Indian company to cross the Rs 8 trillion
market capitalization (m-cap).
✓ HDFC Bank and ICICI Bank are the only
other lenders with m-cap of over Rs 8
trillion.
Highlights:
• SBI's shares surged by 9.5% amid a broad-
based rally in the equity market ahead of
election results.
• In the last year, SBI's stock has increased by
nearly 55%, and the Nifty PSU Bank index
has almost doubled.
• Strong profit growth and improvement in
asset quality have contributed to the rise in
stock prices.
Market capitalisation, or M-Cap, refers to
the total number of a listed company's free-
floating equity shares multiplied by the
current average market price of each share.
A free-floating share of a company means
the equity share of the company that is held
by the public and can be freely traded on a
stock exchange where the company is listed.
A listed company is a company which is listed
on a recognised stock exchange.
• Companies in the Rs 8 trillion League:
✓ At present, six Indian companies are
valued over Rs 8 trillion.
✓ Apart from SBI, Reliance Industries,
TCS, HDFC Bank, Bharti Airtel, and ICICI
Bank are in the Rs 8 trillion league.
✓ IT major Infosys had also crossed the
milestone but is now valued at Rs 5.8
trillion.
SBI
✓ Established: 1 July 1955
✓ Headquarters: Mumbai, Maharashtra
✓ Chairman: Dinesh Kumar Khara
✓ CFO: Kameshwar Rao Kodavanti
29. WSIS+20 Forum High-Level Event
• News: India participated in the World
Summit on the Information Society (WSIS
+20) Forum High-Level Event 2024 held in
Geneva, Switzerland.
✓ The Indian delegation at WSIS+20 was
led by Niraj Verma, Additional
Secretary, Department of
Telecommunication, Ministry of
Communications, Government of India
(GoI).
• The event was organized by International
Telecommunication Union (ITU) in
partnership with the United Nations
Educational, Scientific and Cultural
26
 Organisation (UNESCO), United Nations
Development Programme (UNDP) and
United Nations Conference on Trade and
Development (UNCTAD).
✓ WSIS+20 Forum event was hosted by
ITU and Swiss Confederation, with
support of remote participation.
• The WSIS is a unique two-phase United
Nations (UN) summit initiated to create an
evolving multi stakeholder platform to
address the issues raised by information
and communication technologies (ICTs)
through a structured and inclusive
approach at the national, regional and
international levels.
✓ The 1st phase of WSIS took place in
Geneva in 2003 and the 2nd phase took
place in Tunis (Tunisia) in 2005.
“AI for Good” Global Summit
• India also participated in the “AI for Good”
Global Summit held at the International
Conference Center Geneva (CICG), Geneva,
Switzerland.
✓ The summit was organised by ITU in
partnership with 40 UN sister agencies
and co-convened with the government
of Switzerland.
✓ Indian delegation for the summit was
also led by Niraj Verma, Additional
Secretary (Telecom).
• During the Summit, India took over the
baton of hosting the World
Telecommunication Standardization
Assembly 2024 (WTSA-24) in New Delhi,
Delhi from 15th to 24th October 2024.
✓ WTSA, a quadrennial event (happening
once in 4 years), defines the next
period of study for the ITU-
Telecommunication Standardization
Sector (ITU-T).
✓ It is one of the three conferences
organised by the ITU. The other 2
conferences are the World
Radiocommunication Conference
(WRC) and the World
Telecommunication Development
Conference (WTDC).
UN’s WSIS 2024 ‘Champion’ Award
• The Centre for Development of Telematics
(C-DOT) has won the United Nations World
Summit on the Information Society (UN’s
WSIS) 2024 ‘Champion’ Award at the
WSIS+20 Forum.
• The award was given for the project
‘Mobile-Enabled Disaster Resilience
through Cell Broadcast Emergency
Alerting’ which was recognised under
Artificial Intelligence (AI), Category – 7 (C-
7), E-environment, in the category of
‘Benefits in all aspects of life – E-
environment’.
✓ The C-DOT’s mobile-enabled Cell
Broadcast Emergency Alerting Platform
is an end-to-end solution for delivering
life-saving emergency information to
mobile phones in near real time
through cellular networks.
✓ This indigenous initiative aligns with
global Early Warnings for All (EW4All),
the International Telecommunication
27
 Unions (ITU) – Common Alerting
Protocol (CAP), the ‘Call to Action’, and
promotes SDG (Sustainable
Development Goal) targets while
strengthening countries’ disaster
resilience efforts.
• C-DOT chose two AI startups from India,
DeepVision Tech and Nayancom to
showcase their innovative solutions.
Centre for Development of Telematics (C-
DOT)
• C-DOT was established in August 1984 as
an autonomous Telecom Research and
Development (R&D) centre of the
Department of Telecommunications (DoT),
Government of India (GoI).
✓ Chief Executive Officer: Rajkumar
Upadhyay
✓ Headquarters: New Delhi, Delhi
International Telecommunication Union (ITU)
• ITU was initially established in 1865 as the
“International Telegraph Union” and was
later renamed as International
Telecommunication Union in 1934.
✓ Secretary General: Doreen Bogdan-
Martin (First woman Head of ITU)
✓ Headquarters: Geneva, Switzerland
30. PM -Kisan scheme
• News: Over 1 lakh farmers voluntarily gave
up their PM-Kisan benefits last year (2023).
✓ According to the Union Ministry of
Agriculture and Family Welfare,
116,000 farmers have voluntarily
surrendered their benefits under the
Pradhan Mantri Kisan Samman Nidhi
(PM-Kisan) scheme during June 2023 to
May 2024 period across the country.
• Bihar leads the state in surrendering PM -
Kisan scheme.
Top states where farmers have surrendered
their PM-Kisan benefit (farmers families):
➢ Bihar- 29,176 farmer’s families
➢ Uttar Pradesh-26,593
➢ Rajasthan - 10,343
➢ Maharashtra- 7,825
➢ Jharkhand- 6,215
• According to the ministry, the possible
reason for the farmers giving up the PM-
Kisan benefits could be:
✓ Absentee landlords
✓ Land being transferred to tax-paying
descendants through succession
✓ Change in the status of landowners
• The 16th instalment was released by Prime
Minister Narendra Modi on 29 February
2024 directly to the bank account of 9.09
crore farmers.
• Out of the 9.09 crore farmers, the
maximum number of farmers were from
Uttar Pradesh.
Top states with maximum beneficiaries
(farmers):
➢ Uttar Pradesh: 2.03 crore famers
➢ Maharashtra: 89.66 lakh
➢ Madhya Pradesh: 79.93 lakh
➢ Bihar: 75.79 lakh
➢ Rajasthan: 62.66 lakh
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 Pradhan Mantri Kisan Samman Yojana
(PM-KISAN)

The PM-KISAN scheme was launched by

Prime Minister Narendra Modi on 24th
February 2019 at Gorakhpur, Uttar Pradesh.

Under this scheme, eligible farmers receive

Rs 6000 per year in their bank account from
the Government of India.

The farmers are paid Rs 2000 each in three

instalments.

The Union Ministry of Agriculture and

Farmer Welfare, Government of India,
administers the PM-KISAN yojana in India.

All instalments falling due on or after 1st

December 2019 are being paid only based
on the Aadhaar authenticated bank data of
beneficiaries.

29