DailyScoop June 28 2024 by AffairsCloud New 1

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NATIONAL AFFAIRS
1)
CPSU - Central Public Sector Undertaking

DSIR - Department of Scientific and Industrial Research
2)
ISRO - Indian Space Research Organisation

NASA - National Aeronautics and Space Administration
NISAR - NASA ISRO Synthetic Aperture Radar

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3)
BANKING & FINANCE

1)
2)
SEBI - Securities and Exchange Board of India
3)
Punjab and Sind
Bank
4)

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ECONOMY & BUSINESS

1)
2)
GRSE - Garden Reach Shipbuilders and Engineers

DWT - Dead Weight Tonnage
APPOINTMENTS & RESIGNATIONS
1)
UNESCO - United Nations Educational, Scientific and Cultural Organization

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2)
3)
SCIENCE & TECHNOLOGY
1)
NASA - National Aeronautics and Space Administration

NOAA - National Oceanic and Atmospheric Administration
GOES - Geostationary Operational Environmental Satellite

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2)
MR-MOCR - Medium Range-Microwave Obscurant Chaff Rocket

DRDO - Defence Research and Development Organisation
STATE NEWS
1)

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Supplyco golden jubilee celebrations gets underway; new schemes launched
WHO calls on member countries to eliminate illicit trade in Tobacco, control unrecorded alcohol:
WHO
Goa govt unveils scheme to allow sick industrial units to exit from state
Gupshup Unveils India's First Conversational Buyer App on ONDC
SkyFi partners with GalaxEye Space to revolutionise multi-sensor Earth imaging

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AFFAIRSCLOUD TODAY
Current Affairs 28 June 2024 : Headlines
Mazagon Dock Shipbuilders Receives Navratna Status; CEL Gets ‘Mini RATNA'(Category-1)
Status
Jake Sullivan APNSA of USA visited India on 17&18th June 2024; Held 2nd iCET Meet with
India’s NSA Ajit Doval
MoE Launches National Campaign on ToFEI
HDFC Bank Launched a Digital Investment Platform ‘HDFC Bank SmartWealth’
SEBI Constitutes 15-Member Working Group to Review Derivative Trading Norms
PSB Signed MoU With Indian Army For Salary Accounts
‘Super.Money App’: Flipkart Launches New UPI App To Offer Financial Services
India’s External Debt Rises USD 39.7 Billion Y-o-Y to USD 663.8 Billion: RBI Data
GRSE & German Firm Signed an Agreement To Construct Four Multi-Purpose Vessels
K-Pop Group SEVENTEEN Appointed UNESCO’s First-Ever Goodwill Ambassador for Youth
Deputy CM Bihar Samrat Chaudhary Appointed as Convener of Reconstituted GST Rate
Rationalisation Panel
Naveen Chandra Jha Appointed as New MD & CEO of SBI General Insurance
NASA Launches NOAA’s 4th & Final Weather Satellite ‘GOES-U’ on SpaceX’s Falcon Heavy
Rocket
DRDO Handed Over Medium Range-Microwave Obscurant Chaff Rocket to Indian Navy
‘Dendrophthoe longensis’ & ‘Petrocosmea arunachalense’: New Plant Species Discovered
in Andaman and Nicobar Islands and AR
World Micro-, Small, and Medium-sized Enterprises (MSME) Day 2024 – June 27
South India’s First Leopard Safari Launched at BBP in Karnataka

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NATIONAL AFFAIRS
Mazagon Dock Shipbuilders Receives Navratna Status; CEL Gets ‘Mini RATNA'(Category-1) Status
Department of Public Enterprises(DPE), under the Ministry of Finance(MoF), has granted the
‘Navratna’ status to Mazagon Dock Shipbuilders Limited (MDSL), a Central Public Sector
Undertaking(CPSU) under the Ministry of Defence(MoD).
• Central Electronics Limited (CEL), a PSU under the Department of Scientific and Industrial
Research (DSIR), Ministry of Science and Technology(MoST), has received the ‘Mini RATNA
(Category-1)’ Status from the Department of Public Enterprises.
Note: Dr. Jitendra Singh, Union Minister of State (MoS) Independent Charge (IC), MoST, announced the grant
of Mini Ratna status for CEL during the Golden Jubilee(50 years) celebration of CEL at its Ghaziabad
campus in Uttar Pradesh(UP).
Criteria for grant of Navratna Status:
The Miniratna Category – I and Schedule ‘A’ CPSEs who have achieved ‘excellent’ or ‘very good’ rating under
the Memorandum of Understanding (MoU) system in three of the last five years, and have a composite score
of 60 or above in the six selected performance parameters, namely,
• Net profit to net worth (25),
• Manpower cost to total cost of production/services (15)
• Profit Before Depreciation, Interest and Taxes (PBDIT) to capital employed (15)
• PBIT to turnover (15)
• Earnings per share (10)
• Inter-sectoral performance (20)
Benefits:
i.Navratna companies enjoy financial autonomy that allows them to make substantial investments without
seeking government approval.
ii.They can invest up to Rs. 1,000 crore or 15% of their net worth in a single project, and up to 30% of
their net worth in a year, provided these investments do not exceed Rs.1,000 crore.
iii.They can form joint ventures, establish subsidiaries, and can enter into strategic alliances both
domestically and internationally.
iv. They can make capital expenditure on the purchase of new items or for replacement, without any
monetary ceiling.
Criteria for Grant of Miniratna status:
To qualify for Miniratna status, companies must meet the following criteria:
For Miniratna Companies in Category I
i.A company must have consistently recorded profits for the past three years.
ii.It must have earned a pre-tax profit of at least Rs.30 crore in the last three years.
For Miniratna Companies in Category II

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i.Companies must have made profits continuously in the last three years.
ii.They should have a positive net worth.
• They have not defaulted in the repayment of loans/interest payment on any loans due to the
Government.
• These public sector enterprises shall not depend upon budgetary support or Government
guarantee.
List of Navratna Companies
S. No Company Name
1 Bharat Electronics Limited (BEL)
2 Container Corporation of India Limited (CONCOR)
3 Engineers India Limited (EIL)
4 Hindustan Aeronautics Limited (HAL)
5 Mahanagar Telephone Nigam Limited (MTNL)
6 National Aluminium Company Limited (NALCO)
7 National Buildings Construction Corporation Limited (NBCC)
8 Neyveli Lignite Corporation Limited (NLC India)
9 National Mineral Development Corporation Limited (NMDC)
10 Rashtriya Ispat Nigam Limited (RINL)
11 Shipping Corporation of India Limited (SCI)
12 Rail Vikas Nigam Limited (RVNL)
13 ONGC Videsh Ltd (OVL)
14 Rashtriya Chemicals & Fertilizers Limited (RCF)
15 IRCON International Limited
16 RITES Limited
17 Indian Renewable Energy Development Agency Limited (IREDA)
18 National Fertilizers Limited
19 Central Warehousing Corporation
20 Housing & Urban Development Corporation Limited

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21 Mazagon Dock Shipbuilders Limited (MDSL)

Miniratna Category 1
S.No Company Name
1 Airports Authority of India
2 Antrix Corporation Limited
3 Balmer Lawrie & Co Limited
4 Bharat Coking Coal Limited
5 Bharat Dynamics Limited
6 BEML Limited
7 Bharat Sanchar Nigam Limited
8 Braithwaite & Company Limited
9 Bridge & Roof Company (India) Limited
10 Central Coalfields Limited
11 Central Mine Planning & Design Institute Limited
12 Chennai Petroleum Corporation Limited
13 Cochin Shipyard Limited (schedule A in July, 23)
14 Cotton Corporation of India Ltd
15 EDCIL (India) Limited
16 Garden Reach Shipbuilders & Engineers Limited
17 Grid Controller of India Limited (GRID-INDIA)
18 Goa Shipyard Limited
19 Hindustan Copper Limited
20 Hindustan Steelworks Construction Limited
21 HLL Lifecare Limited
22 Hindustan Paper Corporation Limited

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23 HSCC (India) Limited
24 India Tourism Development Corporation Limited
25 Indian Rare Earths Limited
26 Indian Railway Catering & Tourism Corporation Limited
27 Indian Railway Finance Corporation Limited
28 India Trade Promotion Organization
29 KIOCL Limited
30 Mazagaon Dock Shipbuilders Limited
31 Mahanadi Coalfields Limited
32 MOIL Limited
33 Mangalore Refinery & Petrochemical Limited
34 Mineral Exploration Corporation Limited
35 Mishra Dhatu Nigam Limited
36 MMTC Limited
37 MSTC Limited
38 National Projects Construction Corporation Limited
39 National Small Industries Corporation Limited
40 National Seeds Corporation
41 NHPC Limited
42 Northern Coalfields Limited
43 North Eastern Electric Power Corporation Limited
44 Numaligarh Refinery Limited
45 Pawan Hans Helicopters Limited
46 Projects & Development India Limited
47 Railtel Corporation of India Limited

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48 SJVN Limited
49 Security Printing and Minting Corporation of India Limited
50 South Eastern Coalfields Limited
51 Telecommunications Consultants India Limited
52 THDC India Limited
53 Western Coalfields Limited
54 WAPCOS Limited
55 Central Electronics Limited (CEL)

About Mazagon Dock Shipbuilders Limited (MDSL):
Chairman & Managing Director(CMD)– Sanjeev Singhal
Headquarters– Mumbai, Maharashtra
Founded– 1934
About Central Electronics Limited (CEL):
Chairman & Managing Director(CMD)– Chetan Prakash Jain
Headquarters– New Delhi, Delhi
Established– 1974
Jake Sullivan APNSA of USA visited India on 17&18th June 2024; Held 2nd iCET Meet with India’s
NSA Ajit Doval
Jake Sullivan, the Assistant to the President for National Security Affairs (APNSA) of the United States of
America (USA) was on a 2-day visit to New Delhi, Delhi from 17th to 18th June 2024.
• Jake Sullivan and Ajit K Doval, NSA of India co-chaired the second meeting of the India-US
initiative on Critical and Emerging Technology (iCET) on 17 June 2024 at Hyderabad House, New
Delhi.
About iCET:
i.The iCET was launched by PM Modi and US President Joe Biden on the sidelines of the Quad Leaders’
Summit held in Tokyo, Japan on 24 May 2022.
• The inaugural iCET meeting was held in January 2023 in Washington, D.C., USA.
ii.The iCET framework focuses on cooperation in new and emerging technologies, including
semiconductors, artificial intelligence, quantum computing, defence innovation, space and advanced
telecommunications.

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Key Highlights of the 2nd iCET Meeting:

i.During the meeting, the NSA of India and the USA highlighted the importance of adapting each
other’s technology protection toolkits and committed to mitigating the leakage of sensitive and dual-use
technologies to the concerned countries.
ii.They also committed to take the desired action in the coming time to look into the prevailing barriers to
bilateral strategic trade, technology, and industrial cooperation, including in the commercial and civil space
sector.
iii.They discussed the collaboration in diverse domains
of new and emerging technologies, including
Semiconductors, Artificial Intelligence(AI), Quantum,
Defence Innovation, Space and Advanced
Telecommunications.
iv. India and the USA are currently in advanced stages of
talks for the purchase of 31 MQ-9B Unmanned Aerial
Vehicles, local licensed manufacture of the General
Electric GE-414 engines as well the Stryker infantry
vehicles.
v.The joint factsheet released issued after the meeting stated that, Both countries are planning to launch a
new semiconductor partnership between General Atomics and 3rdiTech to co-develop semiconductor
design and manufacturing for precision-guided ammunition and other national security-focused electronics
platforms.
vi.A new partnership between US Space Force and Indian startups, 114ai and 3rdiTech, to work on
advancements in space situational awareness, data fusion technologies, and infra-red sensor semiconductor
manufacturing.
ISRO and NASA to launch NASA-ISRO Synthetic Aperture Radar (NISAR)
India and the USA are making preparations to launch the National Aeronautics and Space Administration
(NASA)-Indian Space Research Organisation (ISRO) Synthetic Aperture Radar(NISAR) to combat climate
change and other global challenges.
i.NISAR, a joint Earth-observing mission between NASA and ISRO, will be launched from the Satish Dhawan
Space Centre (Sriharikota, Andhra Pradesh) on India’s southeastern coast.
ii.The NISAR will be the first radar imaging satellite to use two different radar frequencies (L-band and S-
band) to measure changes in our planet’s surface less than a centimetre across.
iii.The tenure of the NISAR mission is three years and can scan nearly all the land and ice surfaces of the
Earth twice every 12 days. It would be able to measure water, agriculture, and coverage of greenery across
the Earth’s surface.
iv.NISAR will measure changes in ice sheets and glaciers, wetlands and forests, and land around volcanoes
and earthquake faults.
India, USA working to Train ISRO Astronaut for ISS
i.NASA administrator Bill Nelson has announced that NASA will collaborate with India, which will include a
joint effort of boarding the International Space Station (ISS) with an Indian astronaut.
• This announcement was made after the discussions that were held in the iCET Dialogue between
NSA Jake Sullivan and Ajit Doval.
ii.NASA will assist in training two Indian astronauts, one of whom will be flying to the International Space
Station (ISS) in 2024.

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About the United States of America(USA):

President– Joseph Robinette Biden Jr.
Currency– United States Dollar (USD)
Capital– Washington, D.C.
MoE Launches National Campaign on ToFEI

The Ministry of Education(MoE), Government of India (GoI) as part of the National Tobacco Control
Programme (NTCP), has launched a nation-wide campaign on Tobacco Free Educational
Institutions (ToFEI).
• With regard to this campaign, Secretary, Department of School Education & Literacy, MoE issued
a detailed advisory to all States/UTs for complying with Guidelines of ToFEI as per the ToFEI
Implementation Manual.
Note: The ToFEI implementation manual was launched on World No Tobacco Day (WNTD) (31 May 2024)
will serve as a crucial tool in transforming all educational institutions across India into “Tobacco Free”
zones.
ToFEI Implementation Manual Activities:
Here are key activities suggested for schools and their surrounding areas:
i.Display “Tobacco Free Area” and “Tobacco Free Education Institution” signage.
ii.Ensure no evidence of tobacco use on-premises like cigarette/beedi butts or discarded gutka/tobacco
pouches or spitting spots.
iii.Post awareness materials on tobacco harms within the premises.
iv.Organise at least one tobacco control activity biannually
(every 6 months).
v.Nomination of ‘Tobacco Monitors’ and their names,
designations, and contact numbers are to be mentioned on
the signage.
vi.Include “No Tobacco Use” guidelines in the institution’s
code of conduct.
vii.Marking of 100 yards (300 feet) area from the outer
limit of the boundary wall/ fence of the educational
institute.
viii.Ban tobacco sales within 100 yards of any educational
institutions.
ix.Conduct anti-tobacco pledges as per Annexure-III of the
Implementation Manual of ToFEI.
Point to Note:
• According to Global Youth Tobacco Survey (GYTS) 2019, 8.5 percent of school students in the age
group of 13 to 15 consume tobacco in different forms across the country.

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• Tobacco use is one of the major causes of preventable deaths and diseases in India and accounts
for nearly 1.35 million deaths every year in the country. India is also the second
largest consumer and producer of tobacco. .
About the Ministry of Education (MoE):
Union Minister– Dharmendra Pradhan (Constituency: Sambalpur, Odisha)
Ministers of State (MoS)- Sukanta Majumdar (Balurghat, West Bengal)
MoS (Independent Charge (IC))- Jayant Chaudhary (Rajya Sabha, Uttar Pradesh)
BANKING & FINANCE

HDFC Bank Launched a Digital Investment Platform ‘HDFC Bank SmartWealth’
HDFC Bank Limited, India’s leading private sector bank, has launched ‘HDFC Bank SmartWealth’, a new
digital investment platform designed to make wealth services accessible to every Indian.
• This platform aims to simplify and bring transparency to the investment process.
About SmartWealth:
i.Any customer with a savings account at HDFC Bank can register for SmartWealth. Only 1 account can be
linked for all purchases and redemptions on SmartWealth.
ii.HDFC Bank SmartWealth incorporates cutting-edge technology and offers first-ever features which allow
investors to make the right investment decisions and plan their financial journey.
• Using SmartWealth, investors can invest in mutual funds, bank deposits, stocks, and bonds for
potentially superior returns without any inconvenience.
Key Features:
i.The SmartWealth Application (App) enables users to create SmartJars, which gives personalised
portfolio plans that can be modified or paused anytime.
ii.Model Portfolios on SmartWealth suggest curated investment baskets based on 25 years of HDFC Bank’s
expertise.
iii.The App features a smart, comprehensive dashboard with a holistic view of investments.
• It highlights the total market value, family wealth, Systematic Investment Plan (SIP) calendar, and
detailed analytics.
iv.For users with a diversified portfolio, the App enables a Consolidated Account Statement (CAS),
downloadable in just three clicks.
• This App generates automated statements (Transaction, Holding, and Capital Gain/Loss) giving a
360-degree portfolio reporting.
v.It also provides an enhanced experience with a virtual Relationship Manager (RM) for real-time
assistance and personalised support.
Advanced Tools:
i.The portfolio rebalancing feature of SmartWealth prompts users to adjust their investments in volatile

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markets.
ii.The portfolio analytics feature analyses asset distribution to mitigate risk.
About HDFC Bank Limited:
It was incorporated in August 1994 and commenced operations as a Scheduled Commercial Bank in
January 1995.
Managing Director (MD) & Chief Executive Officer (CEO)– Sashidhar Jagdishan
Headquarters– Mumbai, Maharashtra
Tagline– We understand your world
SEBI Constitutes 15-Member Working Group to Review Derivative Trading Norms

The Securities and Exchange Board of India (SEBI) has constituted a working group to review derivative
trading norms. The 15 members working group will be headed by G. Padmanabhan , former executive
director of the Reserve Bank of India (RBI).
• This decision was taken in continuation of series of steps taken by the SEBI to tighten the retail
Futures& Options (F&O) trading.
About the Working Group:
i.The other members of the working group will be the representatives from market ecosystems such
as: exchanges, brokers, clearing corporations, mutual funds, a major corporate house, and academic experts
in finance and risk management from the Indian Institutes of Management (IIMs).
iii.SEBI has outlined the Terms of Reference (ToR) for working group like; suggesting short-term and
medium-term measures with the aim of enhancing
investor protection in exchange Traded
Derivatives (ETDs) and improving risk metrics and risk
architecture of ETDs which will further enhance market
development and regulation.
Key Points:
i.RBI Governor, Shaktikanta Das announced that the RBI
along with SEBI is closely monitoring the surge in equity
derivatives volumes which larger than the nominal GDP of
India. It was announced during the Financial Stability and Development Council (FSDC) held in June 2024.
• The number of F&O traders has increased 5 times in India.
ii.As per the Futures Industry Association(FIA), National Stock Exchange (NSE) and Bombay Stock
Exchange (BSE) in India are now among the top stock exchanges worldwide in terms of number of
derivatives contracts traded, which accounted for about 85% of global volume.
Note: On 21st June 2024, SEBI formed another committee with members from stock exchanges and
brokerage firms reviewed the suggestions and comments submitted on the eligibility of F&O.
About Securities and Exchange Board of India (SEBI):
SEBI is the apex regulatory body for securities and commodity market in India. It was originally established

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as non-statutory body in April 1988. Later, SEBI was accorded the status of statutory body through SEBI
Act, 1992 on 30th January, 1992.
Chairman- Madhabi Puri Buch
Headquarter- Mumbai, Maharashtra
PSB Signed MoU With Indian Army For Salary Accounts

Punjab and Sind Bank (PSB), an Indian public sector bank, has signed a Memorandum of
Understanding (MoU) with the Indian Army (IA) to offer a defence salary package with a host of facilities
including free insurance cover.
• PSB has introduced banking solutions, special accounts and services for various segments,
demonstrating its commitment to societal impact and sustainability.
Key Points:
i.The MoU provides the serving personnel, veterans and trainees with personal accident insurance
(Death/Disability) cover up to Rs 1 crore and an air accidental cover of Rs 1.2 crore.
ii.The PSB Gaurav Bachat SB Salary account is designed to provide for the distinct banking requirement of
serving and retired personnels.
iii. The product is also aimed to tap Agniveers enrolled in the Agnipath scheme, ensuring a comprehensive
financial solution which aligns with distinctive needs of the segment.
iv.Through this product, the bank has also recognised the sacrifice of Veer Naari (spouse of a martyr) and
provided them with benefits similar to pensioners.
Additional info:
i.PSB has introduced the PSB Pink debit card powered by RuPay for women during its 117th Foundation
Day which was celebrated on June 24 2024.
ii.It also signed an MoU with Maruti Suzuki India for vehicle loans through their Digital Lending
Platform ‘Maruti Suzuki Smart Finance’ and an agreement with Indian Institute of Management (IIM)
Amritsar (Punjab) to promote academic research and industry interactions.
iii.It also launched a series of customer-centric digital offerings through its PSB UNiC App, designed to
ensure secure and hassle-free Banking services.
About Punjab & Sind Bank (PSB):
Managing Director and Chief Executive Officer (MD & CEO) – Swarup Kumar Saha
Headquarters – New Delhi, Delhi
Established – 1908
Tagline– Where Service is a way of life
About the Indian Army (IA):
Chief of Army Staff (COAS) – General Manoj Pande
Headquarters – New Delhi, Delhi
Founded- 1895

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‘Super.Money App’: Flipkart Launches New UPI App To Offer Financial Services
E-commerce platform, Flipkart has launched a Unified Payments Interface (UPI) app ‘Super.Money’ to
offer payments, credit, deposits and other digital financial services.
• As part of the beta version, the app will be
available for the first 1 Lakh users and its logo
features a QR code and 5% cashback on various
transactions including food and travel.
i.The Super.Money app aims to democratise access to
financial services by leveraging UPI infrastructure, aligning
with the government’s larger vision of financial inclusion.
ii.The app is now available in partnership with Axis Bank
Limited, and it offers credit through Utkarsh Small
Finance Bank Limited (USBL). It also offers coupons,
scratch cards or coins for making UPI payments.
• DMI Finance and Credit Saison are other financial
partners of Super.Money.
iii.The app’s superCard services will also provide 9%
interest on the deposit annually with the launch of
Super.Money app.
ECONOMY & BUSINESS

India’s External Debt Rises USD 39.7 Billion Y-o-Y to USD 663.8 Billion: RBI Data
According to the Reserve Bank of India (RBI) official data released on 25th June 2024, India’s external debt
at end-March 2024 was at USD 663.8 billion, saw an increase of USD 39.7 billion over its level at end-
March 2023.
• The external debt to Gross Domestic Product (GDP) ratio (which included both government
and non-government debt) decreased from 19.0% (at end-March 2023) to 18.7% (at end-March
2024).
• RBI underscored if the valuation effect of US dollar and other major currencies such as: Yen, the
Euro and Special Drawing Rights (SDR) which amounted to USD 8.7 billion were excluded then;
external debt would have increased by USD 48.4 billion at end-March 2024 over end-March
2023.
Key Points:
i.As per RBI’s data, the government’s external debt and non-government sector’s external debt was
at 4.2% and 14.5% of India’s GDP.
ii.The RBI data revealed that US dollar-denominated debt, with the share of 53.8%, again emerged as the

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largest component of India’s external debt at end-March 2024, followed by Indian Rupee (INR)(31.5%), Yen
(5.8%), SDR (5.4%) and the Euro (2.8%).
• Also, loans with share of 33.4% remained with largest component of India’s external debt at end-
March 2024, followed by currency and deposits (at 23.3%), trade credit and advances (at 17.9%),
and debt securities (at 17.3%).
iii.It showed that as of March 2024, the general government debt increased by 11.5% Year-on-Year (Y-o-Y).
• While, the debt of the households and non-profit organisations serving the households decreased
by 16.5%.
• Debt service (which includes both principal repayments and interest repayments) increased
from 5.3% (at end-March 2023) to 6.7% of current receipts (at end-March 2024).
iv.As per RBI data, the outstanding debt of non-financial corporation(with 37.4%) has the highest share
of India’s total external debt, followed by general government with share of 22.4% and other financial
corporations with the share of 7.3%.
v.RBI data showed that long-term debt (with original maturity of above 1 year) was at USD 541.2 billion at
end-March 2024 , which saw an increase of USD 45.6 billion over its level at end-March 2023.
vi.According to RBI data, the share of short-term debt (with original maturity of up to 1 year) in total
external debt decreased from 20.6% (at end-March 2023) to 18.5% (end-March 2024).
• Also, the ratio of short-term debt (original maturity) to foreign exchange reserves decreased from
22.2% (at end-March 2023) to 19.0% (at end-March 2024).
vii.Short-term debt on residual maturity basis means debt obligations that include long-term debt by
original maturity falling due to over the next 1 year and short-term debt by original maturity,
accounted 42.9% of total external debt at end-March 2024 and stood at 44.1 % of foreign exchange
reserves at end-March 2024.
About Reserve Bank of India(RBI):
Governor – Shaktikanta Das(25th Governor of RBI)
Headquarter – Mumbai, Maharashtra
Established – 1 April, 1935
GRSE & German Firm Signed an Agreement To Construct Four Multi-Purpose Vessels
Defence Public Sector Undertakings (DPSU) Garden Reach Shipbuilders and Engineers (GRSE) Limited, has
signed an agreement with Germany-based Carsten Rehder Schiffsmakler und Reederei GmbH & Co.
KG to build and deliver four multi-purpose vessels each with a Dead Weight Tonnage (DWT) of 7,500 at a
cost of approximately USD 54 million.
• The contract will be executed in 33 months, with an option of building another four ships.
Signatories: The agreement was signed by Commodore Shantanu Bose, (retd), director (shipbuilding) for
GRSE and Carsten Thomas Rehder, Managing Director (MD) for the German shipping company in the
presence of Chairman and Managing Director (CMD) of GRSE, Commodore P R Hari, (retired).
i.The vessels will be 120 metres long and 17 metres wide, with a maximum draft of 6.75 metres and each
vessel with a single cargo hold to accommodate bulk, general, and project cargoes.
ii.The ships have been specifically designed to carry multiple large windmill blades on deck, and containers
will be carried on hatch covers.
Note: For the first time, the GRSE exported the offshore patrol vessel CGS Barracuda to Mauritius in 2014.
Later, the GRSE-built fast patrol vessel PS Zoroaster was exported to the Seychelles in 2021.

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APPOINTMENTS & RESIGNATIONS

K-Pop Group SEVENTEEN Appointed UNESCO’s First-Ever Goodwill Ambassador for Youth
On 26 June 2024, Audrey Azoulay, Director-General of the United Nations Educational, Scientific and
Cultural Organization (UNESCO), appointed SEVENTEEN, the South Korean (K-Pop) boy band
with 13 members, as UNESCO’s first-ever Goodwill Ambassador for Youth, during a ceremony held in
Paris, France.
• UNESCO and K-pop group SEVENTEEN launched a joint program called “Going Together – For
Youth Creativity and Well-Being”, an ambitious joint grant programme for youth projects
around the world.
• SEVENTEEN will contribute USD 1 million to finance this initiative.
About Global Youth Grant Scheme:
i.UNESCO and SEVENTEEN’s Global Youth Grant Scheme will support youth-led projects globally.
ii.The scheme focuses on addressing the challenges impacting the well-being and development of young
people through music, arts, and sports.
iii.It will support project leaders aged 18 to 30, from diverse backgrounds and regions.
iv.As Goodwill Ambassadors, SEVENTEEN will participate in UNESCO’s campaigns and events, and promote
UNESCO’s values during their performances.
Points to Note:
i.In 2022, SEVENTEEN launched the ‘#GoingTogether’ initiative with the Korean National Commission for
UNESCO (KNCU), aiding in establishing new education centers in Timor-Leste and educational aid in Malawi.
ii.Through the UNESCO Youth Forum, UNESCO has created a direct line of communication between young
people and leaders of its 194 Member States.
Note: The appointment follows SEVENTEEN’s participation in the 13th UNESCO Youth Forum held
in Paris in November 2023 delivering a speech and performing live for the 1st time in France, reaching over
40 million online viewers.
Members of Seventeen(stage name): S.Coups, Jeonghan, Joshua, Jun, Hoshi, Wonwoo, Woozi, The8,
Mingyu, DK, Seungkwan, Vernon, and Dino.
Deputy CM Bihar Samrat Chaudhary Appointed as Convener of Reconstituted GST

Rate Rationalisation Panel
The Goods and Services Tax (GST) Council has announced the appointment of Samrat Chaudhary, Deputy
Chief Minister (CM), Bihar as new convener of the Group of Minister (GoM) of the reconstituted GST rate
rationalisation panel.
• He will succeed Suresh Khanna, Finance Minister of Uttar Pradesh(UP) who has been serving as
the convener of GST rate rationalization since October 2023.

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Note: For the 2nd time, GST rate rationalisation panel was reconstituted.
Background:
i.Orginally, GST rate rationalisation panel was constituted in September, 2021 and was headed
by Basvaraj Bommai, Chief Minister (CM) of Karnataka.
• Under his chairmanship, the panel had submitted an interim report to the GST Council in June
2022 and had recommended changes in tax rates for some goods and services to rationalize the
levy.
ii.In January 2024, Janata Dal United-Bharatiya Janata Party JD(U)-BJP alliance formed government in
Bihar and Samrat Chaudhary replaced Vjay Kumar Chaudhary as Finance Minister of Bihar.
• So, it was required to reconstitute the GoM on GST rate rationalization panel so as to include,
Samrat Chaudhary in the panel.
Key Points:
i.According to the office memorandum, dated 27th February 2024, posted on GST council website on 21st
June,the names of 7 member-GoMs including convener of the reconstituted panel are: Suresh Khanna,
Finance Minister of Uttar Pradesh, Mauvin Godinho, Transport Minister of Goa, Gajendra Singh, Medical
and Health Services Minister of Rajasthan.
• It also includes: Chandrima Bhattacharya, Finance Minister of West Bengal, Krishna Byre Gowda,
Revenue Minister of Karnataka, and K N Balagopal, Finance Minister of Kerala as members of
GoM rate rationalization panel.
ii.The panel has been tasked to suggest the required rate rationalization and correction of inverted duty
structure with the objective to simplify the rate structure, to review the GST exemption list and to
enhance revenues from GST.
Note: At present, the GST regime has 5 broad tax slabs of 0%, 5%, 12%, 18% and 28%. A cess is levied on
luxury and demerit goods which is the highest i.e. 28%.
About Goods and Services Tax (GST) Council:
GST Council is a constitutional body introduced through 101st Amendment Act, 2016 in the constitution. It
was constituted under Article 279-A of the constitution.
Chairperson- Nirmala Sitharaman, Union Finance Minister (Rajya Sabha member- Karnataka)
Naveen Chandra Jha Appointed as New MD & CEO of SBI General Insurance
Naveen Chandra Jha has been appointed as the new Managing Director and Chief Executive Officer (MD
& CEO) of SBI General Insurance Company Limited. He was nominated by the parent company, State
Bank of India (SBI) and succeeds Kishore Kumar Poludasu.
• Prior to this current role, he served as the Deputy Managing Director of SBI. He has been
associated with the SBI since 1994 and has held several key positions during his tenure.
• He has also served as the Chief General Manager (CGM) of Amaravati Circle, Andhra Pradesh (AP).

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• He has held various functional and operational roles, including Branch Management, Credit and
Risk Management with a focus on Small and Medium Enterprises (SME) Credit, Human Resources
(HR) & Administration, and Retail Banking
Note: During the year ended on March 31, 2024, the bank infused additional capital of Rs 489.67 crore in
SBI General Insurance Company Ltd.
SCIENCE & TECHNOLOGY

NASA Launches NOAA’s 4th & Final Weather Satellite ‘GOES-U’ on SpaceX’s Falcon Heavy Rocket
The National Aeronautics and Space Administration (NASA) successfully launched the GOES-
U (Geostationary Operational Environmental Satellite), the 4th and final satellite in the GOES-R series of
advanced weather satellites for NOAA (National Oceanic and Atmospheric Administration). The satellite is
part of an $11 billion upgrade to the nation’s forecasting infrastructure.
• NOAA GOES-U was launched on a SpaceX Falcon Heavy rocket from Launch Complex 39A at
NASA’s Kennedy Space Center in Florida, the United States of America (USA).
About GOES-U:
i.Once GOES-U is in a geostationary orbit (about 22,200 miles above Earth) it will be renamed GOES-19.
ii.The satellite’s solar array panels were successfully deployed, and the spacecraft is operating
autonomously on its power.
iii.The new satellite will shift to the GOES-East position and replace GOES-16 in the mid-2025.

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iv.GOES-U will provide data which are critical to protect the safety of people in the Western Hemisphere.
v.This will monitoring the weather over North America (including the contiguous USA and Mexico); Central
and South America; The Caribbean, and The Atlantic Ocean to the west coast of Africa.
vi.GOES-U is making history by carrying the 1st operational satellite solar coronagraph called the
Compact Coronograph-1 (CCOR-1).
• CCOR-1, a new space weather instrument, will image the outer layer of the Sun’s atmosphere to
detect and characterise coronal mass ejections.
• It blocks the Sun’s bright light, allowing scientists to observe the solar atmosphere more clearly.
About GOES constellation :
i.GOES constellation of satellites supports the forecasters to predict space weather near Earth which will
affect the satellite electronics, Global Positioning System (GPS), and radio communications.
ii.It is a collaborative NOAA and NASA program providing continuous imagery and data on atmospheric
conditions and solar activity.
iii.It is build and launched by NASA and it is operated by NOAA.
About GOES-R:
i.GOES-R series plays a major role in providing continuous coverage of the Western Hemisphere. It also
monitors the tropical systems in the eastern Pacific and Atlantic oceans.
• GOES-R Series Program is overseen by NOAA, through an integrated NOAA-NASA office.
ii.GOES-R series satellites are designed, built and tested by the Lockheed Martin.
iii.The instrument payload, the Advanced Baseline Imager and the ground system are provided by L3Harris
Technologies.
Previous GOES Satellites:
i.The 1st satellite in the series, GOES-R, now known as GOES-16, was launched in 2016 and is currently
operational as NOAA’s GOES-East satellite.
ii.GOES-S, now known as GOES-17, was launched in 2018 and now serves as an on-orbit backup.
iii.GOES-T, now GOES-18 was launched in 2022 and currently serves as NOAA’s operational GOES-West
satellite.
Note : The lifetime of the current GOES-R series will extend into the 2030s. Until its successor, the
Geostationary Extended Observations (GeoXO) satellite system, which will be the first member and it is set
to launch in 2032.
About the National Oceanic and Atmospheric Administration (NOAA):
NOAA was created in 1970 as a science-based agency under the USA Department of Commerce.
Richard W. Spinrad is the Under Secretary of Commerce for Oceans and Atmosphere and the 11th NOAA
Administrator.
Headquarters– Washington, DC, the USA
DRDO Handed Over Medium Range-Microwave Obscurant Chaff Rocket to Indian Navy
The Defence Research and Development Organisation (DRDO), the Research and Development (R&D) wing
under the Ministry of Defence (MoD), handed over the Medium Range-Microwave Obscurant Chaff Rocket
(MR-MOCR) to the Indian Navy at a ceremony held in New Delhi, Delhi.
Key People: The MR-MOCR was handed over by Dr Samir Vankatpati Kamat, Chairman DRDO, to Rear
Admiral Brijesh Vashistha, Director General of Naval Armament Inspection (NAI), Indian Navy.
About Microwave Obscurant Chaff (MOC):
i.The Microwave Obscurant Chaff (MOC) is a niche technology developed indigenously by DRDO’s
Defence Laboratory in Jodhpur, Rajasthan.

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ii.The MOC obscures radar signals, creating a microwave shield around assets, and platforms, reducing
radar detection.
iii.The MR-MOCR features special fibres (with a diameter of a few microns) with unique microwave
obscuration properties.
iv.The rocket when fired, forms a microwave obscurant cloud in space, creating an effective shield against
threats with Radio Frequency seekers.
Successful Trials:
i.The Phase-I trials of MR-MOCR were successfully conducted from the Indian Navy ships, demonstrating
the MOC cloud blooming and being persistent in space.
ii.The Phase-II trials demonstrated a 90% Radar Cross Section (RCS) reduction, cleared by the Indian Navy.
About Defence Research and Development Organisation (DRDO):
DRDO was formed in 1958 from the amalgamation of the then already functioning Technical Development
Establishment (TDEs) of the Indian Army and the Directorate of Technical Development & Production
(DTDP) with the Defence Science Organisation (DSO).
Chairman– Dr Samir Vankatpati Kamat
Headquarters– New Delhi, Delhi
ENVIRONMENT
‘Dendrophthoe longensis’ & ‘Petrocosmea arunachalense’: New Plant Species Discovered in
Andaman and Nicobar Islands and AR
Indian botanists identified 2 new plant species from the Andaman and Nicobar islands and Arunachal
Pradesh(AR). The 2 new species are Dendrophthoe longensis and Petrocosmea arunachalense . The
discoveries underscores the rich biodiversity of India.
About Dendrophthoe longensis:

A research team led by scientist Lal Ji Singh discovered a new plant species ‘Dendrophthoe longensis’ in
Long Islands of middle Andamans, Andaman and Nicobar islands (bio-geographic hotspot of India).

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i.Dendrophthoe longensis is an aerial stem-parasitic flowering

plant species belonging to the mistletoe family Loranthaceae.
ii.It was found on the specific host plant – Mango (Mangifera
indica) in the edge of evergreen forests, low land areas of
tropical forests.
iii.The conservation status of the new species is assessed
as ‘Endangered’ based on the International Union for
Conservation of Nature (IUCN) categories and criteria (IUCN,
2020)
• Indian Dendrophthoe are represented by 9 species
among them 4 are from Andaman and Nicobar Islands
of which 2 species are endemic to the region.
iv.The distribution of the plant species was recorded only from
Sigmendera, Lalaji Bay and near the forest guest house of Long
Island.
Petrocosmea arunachalense Discovered in AR
A team of researchers from the Arunachal Pradesh Regional Centre (APRC) of the Botanical Survey of
India (BSI) has discovered a new plant species ‘Petrocosmea arunachalense’ from the cave from Mandala
region of West Kameng district in Arunachal Pradesh (AR) (bio-geographic hotspot of India).
• The research details have been published in the Nordic Journal of Botany.
Research team: The discovery was led by Dr. Krishna Chowlu, Scientist-D, along with researchers Akshath
Shenoy and Ajit Ray of APRC, Itanagar, AR.
About Petrocosmea arunachalense:
i.Petrocosmea arunachalense is an herbaceous plant species which belongs to the family Gesneriaceae.
ii.It is a very small herb, which is completely white with purple blotch and the plant has a hairy texture.
iii.It is only the second known species from the genus Petrocosmea in India.
iv.This discovery underscores the rich biodiversity of AR and the importance of ongoing conservation
efforts.
Note: India has 4 biodiversity hotspots : Himalayas, Indo-Burma region, Western Ghats and Sundaland.
IMPORTANT DAYS
World Micro-, Small, and Medium-sized Enterprises (MSME) Day 2024 – June 27
The United Nations (UN) World Micro-, Small, and Medium-sized Enterprises (MSME) Day is annually
observed across the globe on 27 June to raise awareness about MSMEs’ contributions to achieving the UN
Sustainable Development Goals (SDGs).
• Theme of MSME Day 2024 is “Leveraging Power and Resilience of Micro-, Small and Medium-
sized Enterprises (MSMEs) to Accelerate Sustainable Development and Eradicate Poverty in
Times of Multiple Crises.”
Note: MSMEs account for 90% of businesses, over 70% of employment, and 50% of Gross Domestic Product
(GDP) worldwide.
Significance:
i.This Day also recognises the role of MSMEs in transforming economies, fostering job creation, and
promoting equitable economic growth with adequate support.
ii.MSME Day 2024 invites key stakeholders to exchange ideas on supporting MSMEs and the focus areas
include advancing the 2030 Agenda, poverty eradication, and ensuring decent work for all.

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Background:
i.On 6 April 2017, the UN General Assembly (UNGA) adopted the resolution A/RES/71/279, proclaiming 27
June of every year as Micro-, Small and Medium-sized Enterprises (MSMEs) Day.
ii.The 1st ever World MSMEs Day was observed on 27 June 2017.
2024 Events:
i.On 27 June 2024, an event was organised in New York, United States of America (USA) to mark World
MSME Day 2024.
• The event was co-organized by the Permanent Missions of Argentina and Indonesia, the
Department of Economic and Social Affairs (DESA), the UN Global Compact, the UN Industrial
Development Organization (UNIDO), the International Trade Centre (ITC) and UN Trade and
Development (UNCTAD).
ii.Another event focusing on “Human-Centered Impact: Advancing the UN SDGs through MSMEs” was
organised in Palais des Nations, Geneva, Switzerland. A workshop was also organized by the UNCTAD,the
International Council for Small Business(ICSB), and other partners, to mark the International Day of MSMEs
2024.
• The co-organisers of the events: ICSB, the Permanent Mission of Argentina to the UN Office in
Geneva, and the Permanent Mission of the Republic of Korea to the UN Office in Geneva.
Note: The MSME conference is organised by Associated Chambers of Commerce and Industry of
India(ASSOCHAM) in Lucknow Uttar Pradesh on 26th and 27th June.
Key Facts:
According to the World Bank’s estimation:
i.SMEs are essential for job creation, generating 7 out of 10 formal jobs in emerging markets.
ii.By 2030, 600 million jobs will be needed to absorb the growing global workforce.
iii.Formal SMEs contribute up to 40% of national income (GDP) in emerging economies. These numbers are
significantly higher when informal SMEs are included.
iv.41% of SMEs in the Least Developed Countries (LDCs) report access to finance as a significant barrier to
growth and development.
• 30% of SMEs in Middle-Income Countries (MICs) face similar financial constraints.
• In the High-Income Countries (HICs), only 15% of SMEs experience major issues with accessing
finance.
v.The International Finance Corporation (IFC) estimates an unmet financing need of USD 5.2 trillion
annually for 65 million SMEs in developing countries.
• It is equivalent to 1.4 times the current level of global MSME lending.

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vi.East Asia and the Pacific account for the largest share (46%) of the total global finance gap, followed by
Latin America and the Caribbean (23%), and Europe and Central Asia (15%).
MSME Sector in India:
i.The MSME sector is crucial to India’s economy, contributing almost 30% of the country’s GDP, around 45%
of manufacturing production, and is the 2nd largest employer after agriculture.
ii.As of 26 June 2024, there are 4.62 Crore registered enterprises in the Ministry of MSMEs’ Udyam
Registration Portal, including Informal Micro Enterprises, employing over 20 crore people.
iii.India’s 64 million estimated MSMEs employ nearly 23% of the workforce. Registered MSMEs reported
nearly 190 million jobs, up from 90 million in 2022.
iv.Women-led MSMEs significantly contribute to employment and investment. From 2021-22 to 2023-24,
women’s participation in MSMEs increased by 66%.
STATE NEWS
South India’s First Leopard Safari Launched at BBP in Karnataka
On June 26 2024, Eshwar Khandre, the Cabinet Minister for Forest, Ecology and Environment, Government
of Karnataka launched South India’s First and largest Leopard Safari at the Bannerghatta Biological
Park (BBP) in Bengaluru, Karnataka.
i.The safari is set up in a 20-hectare area that meets the strict rules of the Central Zoo Authority(CZA).
Currently eight leopards have been released for the safari in the open forest area.
ii.It has been created at a cost of Rs 4.5 crore and the area is made up of undulating terrain with natural
rocky outcrops and semi-deciduous forest.
iii.To avoid the increasing human-animal conflict, the cubs will be raised and shifted to the leopard safari to
help visitors learn about these big cats and to protect the animals.
iv.The park recently held a groundbreaking ceremony to commence the construction of a skywalk and five
new animal enclosures.
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CPSU - Central Public Sector Undertaking

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BANKING & FINANCE

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1 Bharat Electronics Limited (BEL)

2 Container Corporation of India Limited (CONCOR)

3 Engineers India Limited (EIL)

4 Hindustan Aeronautics Limited (HAL)

5 Mahanagar Telephone Nigam Limited (MTNL)

6 National Aluminium Company Limited (NALCO)

7 National Buildings Construction Corporation Limited (NBCC)

8 Neyveli Lignite Corporation Limited (NLC India)

9 National Mineral Development Corporation Limited (NMDC)

10 Rashtriya Ispat Nigam Limited (RINL)

11 Shipping Corporation of India Limited (SCI)

12 Rail Vikas Nigam Limited (RVNL)

13 ONGC Videsh Ltd (OVL)

14 Rashtriya Chemicals & Fertilizers Limited (RCF)

15 IRCON International Limited

17 Indian Renewable Energy Development Agency Limited (IREDA)

18 National Fertilizers Limited

19 Central Warehousing Corporation

20 Housing & Urban Development Corporation Limited

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21 Mazagon Dock Shipbuilders Limited (MDSL)

S.No Company Name

1 Airports Authority of India

2 Antrix Corporation Limited

3 Balmer Lawrie & Co Limited

4 Bharat Coking Coal Limited

5 Bharat Dynamics Limited