Beepedia Monthly Current Affairs (Beepedia) June 2024

Monthly BeePedia
June 2024
INDEX
RBI, Banking and Economy ___________________________________________ 2
SEBI and Financial Awareness _________________________________________ 12
NABARD and Agriculture ___________________________________________ 18
National __________________________________________________________ 21
International _____________________________________________________ 26
States____________________________________________________________ 30
Reports and Indexes _______________________________________________ 36
Science and Technology ___________________________________________ 45
Defence __________________________________________________________ 50
Events ___________________________________________________________ 54
Awards & Rewards ___________________________________________________ 58
Appointments _____________________________________________________ 60
Important Days ___________________________________________________ 63
Obituaries_________________________________________________________ 66
Books ___________________________________________________________ 67
Sports ___________________________________________________________ 68
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Monthly BeePedia
June 2024
RBI, Banking and Economy

RBI keeps repo rate unchanged, raises GDP forecast to 7.2%
 RBI left the repo rate unchanged at 6.5% due to concerns over food inflation and revised the GDP
growth projection for 2024-25 to 7.2%.
 The CPI inflation projection for FY25 remains at 4.5%, expected to fall below 4% in the July-September
quarter.
 Monetary Policy Committee (MPC) maintained the policy rate at 6.5% for the eighth consecutive time,
with a noted divergence in views among members regarding a rate cut.
 The monetary policy stance remained at 'withdrawal of accommodation' by a 4:2 majority; two
members voted for a 'neutral' stance.
 Governor Shaktikanta Das emphasized the need for the monetary policy to remain disinflationary
and committed to achieving a 4% inflation target.
 Headline inflation is moderating but faces challenges from food inflation and input costs, with a
forecast of CPI inflation at 4.9% in Q1, 3.8% in Q2, 4.6% in Q3, and 4.5% in Q4 of FY25.
 GDP growth outlook remains positive, with the FY25 GDP forecast raised to 7.2%, indicating robust
economic activity and sustained growth for the fourth consecutive year.
Learn Along:
About RBI
Founded: 1 April 1935 Headquarters: Mumbai Governor: Shaktikanta Das
RBI approves the voluntary amalgamation of The Yadagiri Lakshmi Narasimha Swamy Co-operative
Urban Bank Ltd., Yadadri Bhuvanagiri (Telangana) with The Gayatri Co-operative Urban Bank Ltd.,
Jagtial (Telangana)
 The Reserve Bank of India (RBI) has approved the Scheme of Amalgamation of The Yadagiri Lakshmi
Narasimha Swamy Co-operative Urban Bank Ltd., Yadadri Bhuvanagiri, Telangana, with The Gayatri
Co-operative Urban Bank Ltd., Jagtial, Telangana.
 The amalgamation will come into effect on June 10, 2024.
 Post-amalgamation, the branches of The Yadagiri Lakshmi Narasimha Swamy Co-operative Urban
Bank Ltd. will operate as branches of The Gayatri Co-operative Urban Bank Ltd. from June 10, 2024.
Reserve Bank of India launches its Third Global Hackathon – HaRBInger 2024
 The Reserve Bank is organizing its third global hackathon, ‘HaRBInger 2024 – Innovation for
Transformation’.
 Participants are invited to develop solutions under two themes:
 “Zero Financial Frauds”: Real-time prediction, detection, and prevention of frauds; ensuring
transaction anonymity in CBDC transactions; identifying mule bank accounts/payment wallets.
 “Being Divyang Friendly”: Accurately identifying banknotes for the visually impaired.
 Participants will be mentored by industry experts and can exhibit their solutions before an eminent
jury.
Prizes include:
 INR 40 lakh for the winner of each problem statement.
 INR 20 lakh special prize for the best all-woman team.
 INR 5 lakh stipend per team shortlisted for solution development.
Outward FDI remain almost flat at $2.0 billion in May, shows RBI data

Monthly BeePedia
June 2024
 Outward foreign direct investment (FDI) commitments were nearly flat at $2 billion in May 2024,
compared to $1.98 billion in May 2023.
 Sequentially, FDI commitments decreased from $2.78 billion in April 2024, according to RBI data.
 Equity commitments rose marginally to $1.02 billion in May 2024 from $965.86 million a year ago, and
significantly higher than $607.96 million in April 2024.
 Debt commitments increased to $262.7 million in May 2024 from $225.5 million in May 2023, but were
lower than $820.3 million in April 2024.
 Guarantees for overseas units declined to $718 million in May 2024 from $797.5 million in May 2023,
and were lower compared to $1.3 billion in April 2024.
RBI Variable Rate Repo (VRR) Auction Announcement
• RBI to conduct a 3-day Variable Rate Repo (VRR) auction under LAF.
• Scheduled for June 18, 2024 (Tuesday).
• Notified amount: ₹1,00,000 crore.
• Tenor: 3 days.
RBI Cancels Purvanchal Cooperative Bank’s Licence
• The Reserve Bank of India (RBI) has revoked the licence of Purvanchal Co-operative Bank, located in
Ghazipur, Uttar Pradesh, citing inadequate capital and bleak earning prospects.
• Consequently, the Commissioner for Cooperation and Registrar of Cooperative Societies, Uttar Pradesh,
has been instructed to initiate the bank’s winding-up process and appoint a liquidator.
• Upon liquidation, depositors will be eligible to receive up to Rs 5 lakh from the Deposit Insurance and
Credit Guarantee Corporation (DICGC) as per their deposit insurance coverage.
• With the licence cancellation, Purvanchal Co-operative Bank is barred from conducting banking activities,
including deposit acceptance and repayment.
Learn Along:
• The Telecom Regulatory Authority of India is a regulatory body set up by the Government of India under section 3 of
the Telecom Regulatory Authority of India Act, 1997. It is the regulator of the telecommunications sector in India.
• Deposit Insurance and Credit Guarantee Corporation is a specialised division of Reserve Bank of India which is
under the jurisdiction of Ministry of Finance, Government of India.
RBI's Foreign Currency Transactions in April 2024
• Net Sale: $3.64 billion in April 2024.

• Purchases: $8 billion.
• Sales: $11.65 billion.
• Comparison to Previous Month
• March 2024: Net purchase of $13.24 billion in the spot market.
RBI Launches Survey on International Trade in Banking Services (ITBS): 2023-24
• The Reserve Bank of India (RBI) launched the 2023-24 round of the Survey on International Trade
in Banking Services (ITBS).
• This annual survey, initiated in 2006-07, gathers data on financial services by branches, subsidiaries, and
joint ventures of Indian banks abroad, and foreign banks in India.
• The survey focuses on services provided based on fees/commission charged to customers.
• Banks are required to fill out the survey schedule for their branches/subsidiaries/joint ventures operating
abroad and those of foreign banks in India.
• Completed survey schedules should be emailed by July 31, 2024.

Monthly BeePedia
June 2024
APIX and RBI Join Forces to Drive Financial Innovation Through HaRBInger 2024 Hackathon
 APIX announced its partnership with the Reserve Bank of India (RBI) to host the HaRBInger 2024
hackathon, aiming to develop solutions for financial security and inclusivity.
 The hackathon focuses on Combatting Fraud and Financial Inclusion for the Differently-abled,
addressing issues like real-time fraud detection, transaction anonymity, mule account identification, and
empowering the visually impaired.
 APIX, a trusted platform for major banks and regulators, empowers innovators with technologies like
AI/ML, APIs, and Data Analytics to create impactful financial solutions.
 The hackathon is open to individuals, teams, and enterprises globally, offering significant prizes: INR
40,00,000 (~USD 48,000) for each problem statement winner and INR 20,00,000 (~USD 24,000) for the
best all-woman team.
Learn Along:
About APIX:
 APIX is a collaborative innovation platform for fintechs and innovators across 90+ countries, empowering
Financial Institutions to accelerate their innovation journey.
 Major banks, insurers, and regulators in the world use APIX to rapidly discover, test, and evaluate solutions by
running comprehensive innovation programs, which include innovation challenges and hackathons.
India’s external debt rises $39.7 bn YoY to $663.8 bn: RBI data
 India’s external debt at end-March 2024 was $663.8 billion, up by $39.7 billion from end-March 2023.
 External debt-to-GDP ratio declined to 18.7% at end-March 2024 from 19.0% at end-March 2023.
 Valuation effect due to U.S. dollar appreciation amounted to $8.7 billion.
 U.S. dollar-denominated debt was the largest component at 53.8%, followed by Indian rupee (31.5%),
yen (5.8%), SDR (5.4%), and euro (2.8%).
 Loans were the largest component of external debt at 33.4%, followed by currency and deposits
(23.3%), trade credit and advances (17.9%), and debt securities (17.3%).
RBI announces the SAARC Currency Swap Framework for the period 2024 to 2027
 RBI and Government of India have revised the Currency Swap Arrangement for SAARC countries
for 2024-2027.
 The RBI will enter into bilateral swap agreements with SAARC central banks seeking the facility.
 The SAARC Currency Swap Facility started on November 15, 2012, providing short-term foreign
exchange liquidity.
 2024-27 Framework includes a new INR Swap Window with ₹250 billion support and concessions.
 Separate US$/Euro Swap Window with US$ 2 billion corpus continues.
 Facility is available to all SAARC member countries, subject to bilateral agreements.
Learn Along:
About SAARC
Headquarters: Kathmandu, Nepal Establishment: 8 December 1985
Member states: 8 members: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan,Sri Lanka
Axis Bank and Mastercard Introduce NFC Soundbox
 Axis Bank, in collaboration with Mastercard, has launched the NFC Soundbox, a device capable of
accepting Bharat QR, UPI, Tap & Pay, and Tap + Pin payments, making it the first bank in India to
support Tap + Pin for transactions over Rs 5000.
 The NFC Soundbox features dual confirmation capabilities, offering audio cues and visual feedback in
over seven languages, enhancing the transaction experience for both merchants and consumers.

Monthly BeePedia
June 2024
 This innovative device is equipped with 4G + WiFi connectivity, ensuring robust and seamless
transaction processing, and supports deep integration with third-party applications.
 It also includes a Dynamic QR feature that auto-fills the transaction amount when scanned by
consumers.
Learn Along:
About Axis Bank
MD and CEO: Amitav Chaudhary Headquarters: Mumbai Founded: 1993
Manufacturing sector’s growth lifts GDP to 8.2%
 India's real GDP growth for FY24 significantly exceeded projections, reaching 8.2%, up from the 7%
recorded in FY23, according to the National Statistical Office (NSO).
 The growth in nominal GDP for FY24 was 9.6%, a decrease from the 14.2% observed in FY23.
 Real Gross Value Added (GVA) for FY24 increased by 7.2%, outpacing FY23’s growth of 6.7%,
primarily driven by a significant 9.9% growth in the manufacturing sector and 7.1% growth in mining and
quarrying.
 Real GVA and GDP growth for the fourth quarter of FY24 were estimated at 6.3% and 7.8%,
respectively.
 The divergence between GDP and GVA growth continued into Q4, highlighted by net taxes growing
by 22%, which contributed to the overall GDP growth.
 On the expenditure side, GDP growth was predominantly driven by strong government capital
expenditures (capex).
 Looking ahead, projections for FY25 anticipate a continuation of strong economic performance with
an estimated GDP growth of around 7%.
Goldman Sachs boosts India GDP forecast to 6.9% for CY24
 Goldman Sachs has revised India's GDP growth forecast for the calendar year 2024 up by 20 basis
points from 6.7% to 6.9%, following robust economic performance in the first quarter.
 The upward revision is attributed to a stronger-than-expected GDP growth of 7.8% during the
January-March 2024 quarter, driven by robust investment demand and recovery in consumption.
 For the fiscal year 2024-25, Goldman Sachs projects India's GDP growth at 6.8%.
 The Central Statistics Office (CSO) reported that India's GDP grew at an impressive rate of 8.2% in the
fiscal year 2023-24, with significant contributions from the manufacturing sector.
 Regarding the fiscal deficit, Goldman Sachs expects the Central government to meet the 2024-25
fiscal deficit target of 5.1% of GDP, helped by a higher-than-budgeted dividend from the Reserve Bank
of India (RBI).
 The government managed a fiscal deficit of 5.6% of GDP for 2023-24, lower than the revised estimate,
through significant expenditure cuts and increased receipts, including a substantial RBI dividend of ₹2.1
lakh crore, well above the budgeted ₹1 lakh crore.
Banks' credit growth in FY25 to slow down to 14% on lower GDP uptick, RBI measures: Crisil
 Crisil forecasts a decline in the banking system's credit growth to 14% in FY 2024-25, a drop of 2
percentage points from the previous year.
 The expected slowdown in credit growth is attributed to a projected lower GDP growth of 6.8% in FY25,
compared to 7.6% in FY24.
 Influencing factors include RBI's implementation of higher risk weights on unsecured loans and the
effect of a high base year.

Monthly BeePedia
June 2024
 Deposit growth lagging behind credit growth could further restrain the expansion of credit facilities.
 The previous financial year (FY24) saw bank credit growth at 16%, adjusted for the HDFC merger,
driven by robust economic activity and increased retail demand.
 For FY25, credit growth is anticipated to be moderated due to the high base effect, revised risk
weights, and slightly lower GDP growth projections.
Board of Punjab National Bank approves dilution of 10% stake in Canara HSBC Life Insurance
Company
 Punjab National Bank (PNB) has received board approval to dilute 10% stake in Canara HSBC Life
Insurance Company through an initial public offering (IPO).
 This move is subject to regulatory approvals, and the specific modalities of the issue will be determined
later.
 The announcement follows Canara Bank's approval to dilute its 14.50% stake in the insurer.
 The IPO requires approval from the Reserve Bank of India and the Department of Financial Services,
Government of India.
 Canara HSBC Life Insurance Company is a joint venture with Canara Bank holding 51%, HSBC
Insurance (Asia Pacific) Holdings 26%, and PNB holding 23%.
 This strategic move aims to unlock value and potentially raise capital for the participating banks.
Learn Along:
About PNB
Chairman: K G Ananthakrishnan Established: May 19, 1894 Headquarters: New Delhi
Bank Clinic
 Bank Clinic launched by the All-India Bank Employees' Association (AIBEA) to guide retail customers
about their rights and remedies.
 Addresses customer grievances amidst technological advancements and RBI guidelines on retail
banking.
 Online Complaint Registration: Customers can lodge complaints on the Bank Clinic website.
 Timely Response: Within five working days, customers receive detailed replies outlining remedies and
relevant RBI guidelines.
 Enhanced Customer Relations: Assists customers with complaint redressal, fostering goodwill.
 Feedback Mechanism: Provides banks with valuable insights into service deficiencies for improvement.
Learn Along
About AIBEA:
 A prominent national trade union, founded on April 20, 1946, in Kolkata, with headquarters in Chennai,
representing bank employees across India.
Netherlands Emerges as India’s 3rd Largest Export Destination in 2023-24
 The Netherlands became India’s third-largest export market in FY 2023–24, following the US and UAE,
despite a 3% decline in India’s total exports of goods.
 Key export commodities to the Netherlands include petroleum products, electrical items, chemicals,
and pharmaceuticals, with oil goods accounting for $14.29 billion in exports.
 Trade between India and the Netherlands increased from $21.61 billion in 2022-23 to $22.36 billion in
2023-24, a 3.5% rise, with India’s trade surplus growing from $13 billion to $17.4 billion.
 The Netherlands’ strategic location, efficient port infrastructure, and strong transportation links
make it a crucial entry point for Indian goods into Europe.

Monthly BeePedia
June 2024
 Diplomatic ties between India and the Netherlands have existed since 1947, evolving into strong
political, economic, and business relationships.
 The Netherlands was a significant investor in India, with $5 billion in foreign direct investment in the
last fiscal year, up from $2.6 billion in 2022–23.
NCLT gives approval for Vistara, Air India merger
• The National Company Law Tribunal (NCLT) approved the merger of Vistara with Air India (AI),
allowing nine months for the dissolution of Vistara.
• Tata Sons Pvt. Ltd. will hold a 73.38% stake in the merged entity, while Singapore Airlines will hold
25.1%.
• SBICAP Trustee Ltd. will hold the remaining 1.52% on behalf of the Air India Employee Settlement
Trust.
• The anti-competition authorities of India and Singapore have approved the integration.
• The Directorate General of Civil Aviation (DGCA) must approve the transfer of Vistara’s crew,
operations, and aircraft to Air India.
Muthoot Microfin inks co-lending pact with SBI
 Muthoot Microfin has announced a strategic co-lending partnership with the State Bank of India
(SBI) to extend its financial services to women entrepreneurs in rural and semi-urban regions across India.
 Under this agreement, Muthoot Microfin and SBI will co-lend to members of Joint Liability Groups
(JLGs) who are engaged in agricultural and allied activities as well as other income-generating enterprises.
 The loan amounts will range from a minimum of Rs 10,000 to a maximum of Rs 3,00,000, providing a
substantial boost to women entrepreneurs from rural regions.
 Muthoot Microfin is the fifth largest NBFC-microfinance company in terms of gross loan portfolio.
 The company provides micro-loans to women customers primarily for income generation purposes
with a focus on rural regions of India.
Learn Along:
About SBI
Chairperson: Dinesh Kumar Khara Founded: 1 July 1955 Headquarters: Mumbai
SBI becomes first PSB to cross ₹ 8 trn mcap
 The State Bank of India (SBI) became the first public sector bank and the seventh Indian company
to achieve a market capitalization of over ₹8 trillion.
 This milestone places SBI among other major banks such as HDFC Bank and ICICI Bank, which also
boast market caps exceeding ₹8 trillion.
 The bank has shown strong profit growth and improved asset quality over recent years, contributing
to a sharp rise in stock prices.
 Over the past year, SBI's stock has increased by nearly 55%, while the Nifty PSU Bank index, which
includes SBI, has almost doubled.
 Currently, six other Indian companies valued over ₹8 trillion include Reliance Industries, TCS, HDFC
Bank, Bharti Airtel, and ICICI Bank; Infosys previously reached this mark but has since dropped to a
valuation of ₹5.8 trillion.
 SBI and ICICI Bank are nearing the $100 billion market cap milestone, a feat recently achieved by
telecom major Airtel.
SBI launches ‘SME Digital Business Loans

Monthly BeePedia
June 2024
 State Bank of India (SBI) launched SME Digital Business Loans with a sanction turnaround time of up
to 45 minutes for SMEs.
 The loan process leverages technology and APIs to streamline lending, utilizing ITR, GST returns,
and bank statements for a data-driven credit assessment, providing decisions within 10 seconds without
human intervention.
 For loans up to ₹50 lakhs, SBI has waived the requirement for financial statements, relying on
transaction history and GST returns for appraisal.
 SBI aims to revolutionize MSME lending by reducing human intervention and enhancing the ease
of doing business, aiming to provide the fastest and most intuitive lending process.
 SBI registered 20% year-on-year credit growth in the SME segment, with outstanding credit to SME
borrowers exceeding ₹4 lakh crore as of March-end 2024.
 SBI has also digitized the Mudra product for loans up to ₹10 lakh and automated the collateral-free
process for loans under CGTMSE cover.
SBI Hikes MCLR Rates Effective June 15
• State Bank of India (SBI) has increased its marginal cost of funds-based lending rate (MCLR) by 10
basis points (bps) across all tenures.
• The hike is effective from June 15.
• This decision comes despite the RBI holding the key interest rate (repo rate) unchanged in its June
monetary policy review.
• New MCLR Rates:
• One-year tenure: increased to 8.75% from 8.65%
• Two-year tenure: increased to 8.85% from 8.75%
• Three-year tenure: increased to 8.95% from 8.85%
• Most SBI loans are linked to the one-year MCLR rate.
India to remain fastest-growing among largest economies: World Bank
 The World Bank retained India's growth forecast at 6.6% for FY25, making it the fastest-growing large
economy.
 For FY26 and FY27, the World Bank projects growth rates of 6.7% and 6.8% respectively, despite a
slowdown in investment growth from a high base.
 Private consumption growth is expected to benefit from improved agricultural production and
declining inflation, while government consumption will grow slowly to reduce current expenditure relative
to GDP.
 The RBI raised its growth projection for FY25 to 7.2%, citing factors like above-normal monsoon, strong
agricultural and services sector activity, healthy balance sheets, and government capex.
 The World Bank noted India's fiscal deficit is projected to shrink due to increased revenues from tax base
broadening, with strong domestic demand driving investment and services activity.
 India's GDP growth for FY24 was estimated at 8.2% by the National Statistical Office, indicating
robust economic performance.
Learn Along:
About World Bank
Headquarters: Washington, D.C., United States Founded: July 1944 President: Ajay Banga
Industrial output growth dips to 3-month low of 4.97%
 Industrial output growth in India eased to a three-month low of 4.97% in April, down from 5.4% in
March.

Monthly BeePedia
June 2024
 Manufacturing growth decreased to 3.9% from 5.8%, while electricity generation rose by 10.2%
compared to a 1.1% contraction last April.
 The Index of Industrial Production (IIP) slid 7.6% in April compared to March, indicating a sequential
downturn.
 Production of consumer non-durables contracted for the third time in six months, shrinking by 2.4%.
 Within manufacturing, six of 23 segments reported contractions, including food products (-12.7%) and
leather (-8.6%).
 Economists noted the divergence in consumer goods output, skewed towards the upper 50% income
households, describing it as a "worrisome" augury.
 The increase in electricity generation was likely due to higher demand from a heatwave across India.
Minutes of the Monetary Policy Committee Meeting, June 5-7, 2024
• Forty-ninth meeting of the Monetary Policy Committee (MPC) held from June 5 to 7, 2024.
• Attended by all members, chaired by Shri Shaktikanta Das, Governor of the RBI.
• Key Discussions and Reviews:
◦ Surveys on consumer confidence, household inflation expectations, corporate sector performance, credit
conditions, and outlooks for the industrial, services, and infrastructure sectors.
◦ Detailed review of staff’s macroeconomic projections and various risk scenarios.
• Resolution Adopted on June 7, 2024:
◦ Policy repo rate under the liquidity adjustment facility (LAF) kept unchanged at 6.50%.
◦ Standing deposit facility (SDF) rate remains unchanged at 6.25%.
◦ Marginal standing facility (MSF) rate and Bank Rate remain unchanged at 6.75%.
◦ Focus remains on withdrawal of accommodation to align inflation with the target while supporting growth.
• Objective:
◦ Achieve a medium-term target for CPI inflation of 4% within a band of +/- 2%, while supporting growth.
Learn Along: -
• In May 2016, the RBI Act, 1934 was amended to provide a statutory basis for the implementation of the flexible
inflation targeting framework.
• Inflation Target: Under Section 45ZA, the Central Government, in consultation with the RBI, determines the inflation
target in terms of the Consumer Price Index (CPI), once in five years and notifies it in the Official Gazette. Accordingly,
on August 5, 2016, the Central Government notified in the Official Gazette 4 per cent Consumer Price Index (CPI)
inflation as the target for the period from August 5, 2016 to March 31, 2021 with the upper tolerance limit of 6 per
cent and the lower tolerance limit of 2 per cent. On March 31, 2021, the Central Government retained the inflation
target and the tolerance band for the next 5-year period – April 1, 2021 to March 31, 2026.
• Section 45ZB of the RBI Act provides for the constitution of a six-member Monetary Policy Committee (MPC) to
determine the policy rate required to achieve the inflation target.
LNG Imports and Domestic Production Update
• LNG imports fell by 7.2% year-on-year in May.

• Imports dropped to 2,650 MMSCM from 2,854 MMSCM the previous year.
• Decline due to stagnant domestic demand and increased local production.
• Natural gas consumption in May was 5,708 MMSCM, a 0.3% increase from the same month last year.
• Data provided by the oil ministry.
India's Growth Forecast Update
• Fitch Ratings has revised India's growth forecast.

• The forecast increased to 7.2% from 7% for the current financial year.
• Revision based on rapid growth in recent quarters.
• Growth driven by fast expansion in investment.
Fiscal Deficit Target for FY25

Monthly BeePedia
June 2024
• Union Finance Minister Nirmala Sitharaman may maintain the fiscal deficit target of 5.1% of GDP for
FY25, as in the Interim Budget.
• Full Budget to be presented in the middle of next month.
• The target is under consideration amid a new coalition government at the Centre.
• Likely emphasis on higher capital expenditure (capex).
• Expectations of special financial packages for Andhra Pradesh and Bihar from coalition partners Telugu
Desam Party and Rashtriya Janata Dal (United), respectively.
India's Net Direct Tax Collections for FY25 Q1
• Net direct tax collections for FY25 grew by 9.81% to Rs 4.62 trillion till June 16.
• Breakdown of collections:
• Corporation tax: Rs 1.81 trillion
• Personal income tax: Rs 2.69 trillion
• Advance tax collections contributed Rs 1.48 trillion.
• The first instalment of advance tax payment was due on June 15.
• Collections till June 16 are lower than the government's FY25 projection of 13% growth for both corporate
and personal income tax, as per the Interim Budget.
• Securities transaction tax contributed Rs 11,605 crore.
• Equalisation levy contributed Rs 698 crore.
• Government targets for FY25:
• Direct taxes: Rs 21.99 trillion
• Indirect taxes: Rs 16.31 trillion
• City-wise collections:
o Mumbai: Rs 1.19 trillion
o Karnataka and Goa: Rs 52,076 crore
o Delhi: Rs 48,876 crore
• FY24 direct tax revenue was Rs 19.58 trillion, reflecting a 17.7% growth.
Dip in Outward Remittances under RBI's Liberalised Remittance Scheme (LRS) in April 2024
• Total Remittances: $2.28 billion in April 2024.

• Year-on-Year Change: 1.98% decrease from $2.33 billion in April 2023.
Specific Categories
• Maintenance of Close Relatives:
• April 2024: $391.69 million.
• Change: 12.84% decrease.
Deposit-Related Remittances:
Gifts:
Learn Along:-
• Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit
up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account
transaction or a combination of both.
• Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of
Schedule III of FEM (CAT) Amendment Rules 2015, dated May 26, 2015, within the limit of USD 2,50,000 only.
• The Scheme was introduced on February 4, 2004, with a limit of USD 25,000.

Monthly BeePedia
June 2024
GST rate rationalisation panel reconstituted, Bihar dy CM named convenor
 Bihar Deputy Chief Minister Samrat Chaudhary has been appointed as the convenor of the GoM on GST
rate rationalisation.
 According to an official memorandum posted on the GST Council secretariat website, the other members
of the reconstituted panel are Uttar Pradesh Finance Minister Suresh Kumar Khanna, Goa Transport
Minister Mauvin Godinho, Rajasthan Medical, and Health Services Minister Gajendra Singh.
 The GoM also includes West Bengal Finance Minister Chandrima Bhattacharya, Karnataka Revenue
Minister Krishna Byre Gowda, and Kerala Finance Minister K N Balagopal.
 The seven-member GoM has been tasked with suggesting required rate rationalisation and correction of
inverted duty structure with an objective of simplifying the rate structure, reviewing the GST exemption list
and enhancing revenues from Goods and Services Tax (GST).
 This is the second time that the GST rate rationalisation panel was reconstituted.
 The GoM was originally set up in September 2021, under then Karnataka Chief Minister Basavaraj
Bommai.
 Under his chairmanship, the panel had submitted an interim report to the GST Council in June 2022,
proposing changes in tax rates for some goods and services to rationalise the levy.
 Currently, the GST regime has five broad tax slabs of zero, 5, 12, 18, and 28 per cent. A cess is levied
over and above the highest 28 per cent rate on luxury and demerit goods.
Learn Along
• The Goods and Services Tax is a successor to VAT used in India on the supply of goods and service. Both VAT and
GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because
it has subsumed almost all the indirect taxes except a few state taxes.
• The GST Council is a constitutional body responsible for making recommendations on issues related to the
implementation of the Goods and Services Tax (GST) in India.
53rd GST Council Meeting Highlights: FM assures finance commission grants and arrears of GST
compensation to states
 GST Council is likely to deliberate on taxation on online gaming and lowering tax on fertilisers as
recommended by the Parliamentary standing committee.
 Union finance minister chairs the 53rd meeting of the GST Council in New Delhi.
 Attendees include MoS finance Pankaj Chaudhary, CMs of Goa and Meghalaya, Deputy CMs of Bihar,
Haryana, Madhya Pradesh, and Odisha, as well as finance ministers of states & UTs and senior officers.
 Discussion points include Group of Ministers (GoM) progress on GST rate rationalisation and
amendments based on previous council decisions.
 The council will consider the Standing Committee on Chemicals and Fertilisers' recommendation
to reduce GST on nutrients and raw materials for fertiliser manufacturing companies and farmers.
 Current GST rates: 5% on fertilisers and 18% on raw materials like Sulphuric Acid and Ammonia.
 The 53rd meeting comes after an eight-month gap, with the last meeting held on October 7, 2023.
India’s Core Sector Grew By 6.3% In May
 India’s core sector grew by 6.3% in May 2024 compared to the same period last year.
 Production of Electricity, Coal, Steel, Natural Gas, and Refinery Products recorded positive growth
in May 2024.
 Month-on-Month growth slowed down slightly, from 6.7% in April to 6.3% in May 2024.
 Coal production increased by 10.2%, Electricity generation by 12.8%, Natural Gas production by
7.5%, and Petroleum Refinery production by 0.5%.
 Cement production decreased by 0.8%, Crude Oil production declined by 1.1%, and Fertilizer
production fell by 1.7%.

Monthly BeePedia
June 2024
S&P Global Ratings retains India's growth forecast for FY25 at 6.8%
 The S&P Global Ratings retained its growth

forecast for India at 6.8 per cent for FY25, citing
high interest rates and lower fiscal boost tempering
demand in the non-agricultural sectors.
 “India's economic growth continues to surprise on
the upside. GDP growth for fiscal 2024 was
revised up to 8.2 per cent.
 For FY26 and FY27, S&P projected India’s economy
to grow at 6.9 per cent and 7 per cent, respectively.
 S&P raised its GDP growth forecast for China to 4.8
per cent from 4.6 per cent for 2024, but expected a
sequential slowdown in the June quarter.
 The rating agency expects the Reserve Bank of
India (RBI) to reduce its policy rate to 6 per cent
in the current financial year from 6.5 per cent at
present.
SBI pays Rs 6,959 crore dividend to govt, BoM gives Rs 857 crore for FY24
 The country's biggest lender State Bank of India (SBI) paid a dividend of Rs 6,959 crore for the financial
year 2023-24 to the government.
 SBI declared a dividend of Rs 13.70 per share for the financial year 2023-24, higher than Rs 11.30 per
equity distributed for the previous year.
 During 2023-24, the bank earned a record consolidated net profit of Rs 67,085 crore against Rs
55,648 crore in the preceding year.
 State-owned Bank of Maharashtra (BoM) presented Rs 857 crore dividend cheque to Finance Minister
Nirmala Sitharaman.
 The bank declared a dividend of Rs 1.40 per equity share (14 per cent) for FY24, BoM said in a
statement.
 The Government of India holds an 86.46 per cent stake in the Pune-based bank.
 The bank's net profit increased by 55.84 per cent to Rs 4,055 crore in FY24, compared to Rs 2,602
crore in the previous fiscal year.
Learn Along:
AboutSBI
Chairperson: Dinesh Kumar Khara Founded: 1 July 1955 Headquarters: Mumbai
SEBI and FINANCIAL AWARENESS

SEBI Advices Not To Engage With Financial Influencers
 SEBI has prohibited regulated entities like stock brokers and mutual funds from associating with
unregistered entities, including financial influencers.
 SEBI Chairperson Madhabi Puri Buch stated that regulated entities must not engage with unregistered
persons offering advice or recommendations.
 Exemption is given to those solely involved in investor education without providing investment advice.
 SEBI plans to notify digital platforms to prevent unregistered persons from offering investment advice.

Monthly BeePedia
June 2024
 SEBI authorized registered investment advisors and research analysts to optionally collect fees for their
services.
 SEBI board approved a Cybersecurity and cyber resilience framework for regulated entities.
Learn Along:
About SEBI
 The Securities and Exchange Board of India was established as a statutory body in the year 1992 and the
provisions of the Securities and Exchange Board of India Act, 1992 (15 of 1992) came into force on January 30,
1992.
 Chairperson: Ms. Madhabi Puri Buch Headquarters: Mumbai, Maharashtra
India received $120 billion in remittances in 2023, maximum from US: World Bank
 India received USD 120 billion in remittances in 2023, almost double the USD 66 billion received by
Mexico, per the World Bank.
 Other top remittance recipients: China (USD 50 billion), Philippines (USD 39 billion), and Pakistan
(USD 27 billion).
 India's remittance growth of 7.5% in 2023 is attributed to low inflation, strong US labor markets, and
demand in GCC countries.
 Pakistan's remittances fell 12% to USD 27 billion due to internal economic difficulties.
 Remittances from the UAE (18% of India's total) benefited from a February 2023 agreement on local
currency transactions.
 Forecast: India's remittances to grow to USD 124 billion in 2024 and USD 129 billion in 2025, supported
by linking UPI with countries like the UAE and Singapore.
 Diversification of India's migrant pool between OECD and GCC markets lends stability to remittance
flows.
India achieves ‘outstanding outcome’ in FATF evaluation
 India achieved an outstanding outcome in the Mutual Evaluation by the Financial Action Task Force
(FATF), placing in the ‘regular follow-up’ category with only four other G20 countries, recognized in the
June 2024 plenary in Singapore.
 FATF acknowledged India's efforts in mitigating money laundering (ML) and terrorist financing (TF)
risks, transitioning to a digital economy, and implementing the JAM (Jan Dhan, Aadhaar, Mobile)
Trinity.
 India's performance in the FATF Mutual Evaluation enhances financial system stability and integrity,
improving access to global financial markets, investor confidence, and supporting the global expansion
of the Unified Payments Interface (UPI).
 The recognition underscores India's commitment to international standards and proactive measures
against financial crimes, setting a regional benchmark for countering terror financing.
 Since 2014, legislative changes and enforcement efforts have aligned India's measures with international
standards, proving effective against terror funding, black money, and narcotics.
 The Department of Revenue (DoR) led India's engagement with FATF, showcasing a collaborative, multi-
disciplinary approach to an effective AML/CFT framework.
 As a member of the FATF Steering Group, India's performance enables significant contributions to the
group's functioning and reinforces its commitment to strengthening the AML/CFT framework
India's Future Unicorns in the FinTech Sector
• India has 30 future Unicorns in the FinTech sector.

• Consumer lending is the dominant subcategory, comprising more than half of the FinTech future Unicorns.
• The FinTech sector holds a substantial share of the overall value of future Unicorns, with a total of $11.4
billion or 20% of the total value.
• Money View is the most valuable FinTech Gazelle, and JustPay is the most valuable FinTech Cheetah.

Monthly BeePedia
June 2024
• The 30 startups in the ASK Private Wealth Hurun India Future Unicorn Index have collectively raised $5.7
billion.
• The future focus in technology is shifting towards Deeptech, with significant activity expected in the EV,
Green Energy, and Semiconductor sectors.
SEBI's New Framework for Special Call Auctions for Holdcos
• SEBI announced a framework for special call auctions for investment holding companies (holdcos)
with no price bands.
• Holdcos hold stakes in other assets, including shares of other listed companies, and typically trade at a
discount to their intrinsic value.
• Nearly 70 listed holdcos in the Indian market are targeted by this framework to address the valuation gap.
• Stock exchanges will initiate the special call auction with a 14-day advance notice.
• Notice details will include the overall book value, book value based on investments in listed companies,
and the latest buy-back price.
• Each holdco will have this auction once a year, with the first session in October.
Learn Along: -
• What is a Holdcos? - An investment holding company refers to a company that owns investments such as properties
and shares for long term investment and derives investment income ('non-trade income') such as dividend, interest
or rental income. The company's principal activity is that of investment holding.
Increase in Net Foreign Direct Investment (FDI) in India in April 2024
• Net FDI: Improved to $4 billion in April 2024 from $2.82 billion in April 2023.
• Reason for Improvement: Primarily due to moderation in the repatriation of capital.
TATA AIA Life Insurance Declares ₹1,465 Crore Bonus
• Bonus Amount: ₹1,465 crore for FY24.

• Increase: Nearly 24% higher than the ₹1,183 crore declared in FY23.
• Company Statement
• Commitment: Reflects Tata AIA's commitment to rewarding policyholders.
• Executive Remarks: Executive VP and Appointed Actuary Kshitij Sharma emphasised providing
superior returns to policyholders.
• Financial Growth
• Assets Under Management (AUM): Doubled to ₹1 lakh crore in the last two years.
SEBI Penalties on Hexa Tradex Ltd
o SEBI levied penalties totalling Rs 35 lakh on Hexa Tradex Ltd, its promoters, and directors for violating
delisting and disclosure norms.
o Fines range from Rs 2-5 lakh on Hexa Tradex, its chairperson Raj Kamal Aggarwal, and directors Ravinder
Nath Leekha, Vinita Jha, Girish Sharma, and Pravesh Srivastava.
o Promoter entities Siddeshwari Tradex Pvt Ltd, Innox Global Multiventures, Opelina Sustainable Services,
and JSL Ltd were also penalized.
o The action was initiated following a complaint received by SEBI in July 2022.
o SEBI conducted an examination regarding the delisting of Hexa Tradex Ltd (HTL), listed on BSE and NSE.
o Proceedings were initiated to address alleged violations of SEBI's delisting rules and other norms.
LIC Achieves Significant Milestone in Asset Management
• Life Insurance Corporation of India (LIC) has crossed the Rs 50 lakh crore mark in total assets
under management (AUM).

Monthly BeePedia
June 2024
• LIC’s AUM surged by 16.48% year-on-year, reaching Rs 51,21,887 crore ($616 billion) as of the end
of March.
• This is a substantial increase from Rs 43,97,205 crore at the end of FY23.
• LIC’s financial clout now dwarfs Pakistan’s GDP, which is approximately $338.24 billion, and also
surpasses the economies of Denmark and Singapore.
• The sharp rally in Indian stocks contributed significantly to this achievement.
Urban-Rural Consumption Expenditure Differential Falls To 71% In 2022-23: Survey: MoSPI Survey
 Survey on Household Consumption Expenditure by the Ministry of Statistics and Programme

Implementation found that Rural India's average monthly capital expenditure was 71% lower than
Urban India from August 2022 to July 2023.
 Rural India's average Per capita consumption expenditure (MPCE) was ₹3,773 during this period.
 Urban India's average MPCE stood at ₹6,459.
 Rural India spent 46% of its household consumption expenditure on food during 2022-23.
 The National Sample Survey Office has been conducting household consumption expenditure
surveys since its establishment in 1950.
Pump and Dump Scheme
 SEBI has fined 11 individuals for allegedly operating a ‘pump and dump’ scheme, a manipulative
tactic involving artificially inflating stock prices with false information, then selling at the inflated price,
leaving investors with losses.
 Pump-and-dump schemes are common in the micro-cap and small-cap sectors, where trading
volumes are low, and public information is limited. These schemes are strictly banned under SEBI
guidelines.
 Participants in such schemes face severe penalties, including fines, disgorgement of profits, and
possible imprisonment, aiming to uphold market integrity and protect investors.
 Unlike insider trading, which involves using confidential information to influence stock trades,
pump-and-dump schemes do not rely on insider information but rather on spreading false information
to manipulate stock prices.
 These schemes significantly undermine market confidence, making legitimate investors wary of
potential fraud and distorting the true value of securities.
 SEBI's action highlights its commitment to maintaining fair and transparent financial markets,
ensuring that manipulative practices are rigorously penalized.
Learn Along:
About SEBI
 The Securities and Exchange Board of India was established as a statutory body in the year 1992 and the
provisions of the Securities and Exchange Board of India Act, 1992 (15 of 1992) came into force on January 30,
1992.
 Chairperson: Ms. Madhabi Puri Buch Headquarters: Mumbai, Maharashtra
PhonePe partners with PickMe to enable contactless payments for Indian travellers in Sri Lanka
 PhonePe, announced its collaboration with PickMe, Sri Lanka’s leading ride-hailing platform, to enable
seamless UPI-based QR payments for Indian travellers in Sri Lanka.
 The partnership signifies a major step forward in enhancing their travel experience through the
convenience of cashless transactions on their PickMe rides from the moment they exit the Bandaranaike
International Airport.
 By integrating PhonePe’s UPI-based QR payment system into their platform, PickMe aims to minimise
that stress for Indian travellers visiting Sri Lanka.

Monthly BeePedia
June 2024
Learn Along:
About PhonePe
 PhonePe Group, launched in August 2016, is India’s leading fintech company.
 The PhonePe digital payments app has scaled rapidly, now boasting over 535 million registered users and a
digital payments acceptance network of 39 million merchants.
About PickMe
 PickMe is Sri Lanka’s leading ride-hailing and food delivery platform, providing convenient and reliable
transportation solutions to millions of users across the country.
 Established in 2015, PickMe has grown rapidly, leveraging technology to revolutionise the transportation industry
in Sri Lanka.
India’s Foreign Exchange Reserves Hit Record $651.5 Billion
 As of May 31, 2024, India's foreign exchange reserves reached an all-time high of $651.5 billion.
 Growth factors include strong exports of software and other services, with net service exports up
9.3% in the fourth quarter of 2023-24.
 Global Capability Centers (GCCs) significantly contributed, with GCC-related foreign currency inflows
expected to rise from 1,580 in 2022-23 to about 1,900 by 2024-25.
 India is the largest receiver of remittances, accounting for 15.2% of global remittances, exceeding
$100 billion in the first nine months of FY 2023-24.
 A lower trade deficit and strong remittance transfers have helped keep the current account deficit
within manageable levels for FY 2024-25.
 Foreign Portfolio Investment (FPI) netted $41.6 billion in 2023-24, although early 2024-25 saw net
losses of $5 billion as of June 5, 2024.
 Foreign Direct Investment (FDI) remained strong in 2023-24, keeping India as the top destination for
new FDI in the Asia-Pacific region, alongside increased External Commercial Borrowings (ECBs) and non-
resident savings.
SEBI issues framework for surveillance lapse penalty
• SEBI introduced a framework for financial disincentives for market infrastructure institutions (MII),
imposing penalties from ₹1 lakh to ₹1 crore for surveillance lapses.
• The penalty for the first instance of lapse ranges from ₹1 lakh (for annual revenue under ₹300 crore)
to ₹25 lakh (for annual revenue over ₹1,000 crore).
• For the second instance, the penalty ranges from ₹2 lakh to ₹50 lakh; for the third instance onwards, it
ranges from ₹4 lakh to ₹1 crore.
• The new framework will be applicable from July 1.
• The objective of surveillance by MIIs is to detect and deter market manipulation or abusive trading,
ensuring market integrity and supporting regulatory enforcement actions.
• Market surveillance by MIIs includes monitoring trading, margining, settlement, and demat transactions;
lapses include inadequate or non-reporting of surveillance activities.
SEBI launches app for investor awareness
 The Securities and Exchange Board of India (SEBI) launched Saa.thi 2.0, an updated app designed to
simplify personal finance concepts for investors.
 Saa.thi 2.0 features educational videos on personal finance planning, financial calculators, and
modules explaining Know Your Customer (KYC) procedures.
 The app provides detailed information on mutual funds, exchange-traded funds (ETFs), and the
workings of the stock market.

Monthly BeePedia
June 2024
 It includes a section on the investor grievance redressal mechanism and an online dispute resolution
platform, enhancing investor support and dispute handling.
 SEBI's goal with Saa.thi 2.0 is to offer reliable information and prevent investors from being misled by
inaccurate content found online.
NPCI arm signs pact with Peru to enable UPI payments
 Peru will soon have a UPI-like instant payments system developed by NPCI International Payments
Limited (NIPL).
 NIPL, the international arm of the National Payments Corporation of India (NPCI), signed a pact with
Peru's central bank for this development.
 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.
Learn Along:
About 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
About UPI
 Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application
(of any participating bank), merging several banking features, seamless fund routing & merchant payments
into one hood.
 It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and
convenience.
 NPCI conducted a pilot launch with 21 member banks. The pilot launch was on 11th April 2016 by Dr. Raghuram
G Rajan, Governor, RBI at Mumbai.
UPI breaks record with 14.04 billion transactions in May, sees 49% year-on-year growth
 The Unified Payments Interface (UPI), managed by the National Payments Corporation of India (NPCI),
recorded a new high with 14.04 billion transactions in May, up from 13.3 billion in April.
 The total value of UPI transactions reached Rs 20.45 lakh crore in May, showing an increase from Rs
19.64 lakh crore in the previous month.
 Despite a minor decline in April, UPI transaction volumes rebounded strongly, reflecting a 49 percent
year-on-year growth in daily transaction counts, which stood at 453 million in May.
 The average daily transaction value in May was Rs 65,966 crore, indicative of robust activity on the
platform.
 The Reserve Bank of India (RBI) and NPCI are working on broadening UPI's applications and
extending its influence to the rural economy.
Fiscal deficit in FY24 narrowed to 5.6% on better tax mop-up
 The Central government's fiscal deficit for FY 2023-24 was 5.6% of GDP, an improvement over the
initial projection of 5.8%, driven by higher revenue realization and controlled expenditure.
 The fiscal deficit in actual terms amounted to ₹16.53 lakh crore, which is 5.63% of the GDP.
 This GDP growth for the fiscal year was 8.2%.
 Originally, the revised estimate in the Interim Budget projected the fiscal deficit at ₹17.34 lakh crore.

Monthly BeePedia
June 2024
 Revenue collections for the government reached 101.2% of the budget's revised estimates, with net
tax collection totaling ₹23.26 lakh crore.
 Total government expenditure for FY24 was ₹44.42 lakh crore, accounting for 98.9% of the revised
budget estimates.
Learn Along:
About ADB
 Established in 1966, the ADB is a multilateral development bank with the mission to promote economic growth
and cooperation in the Asia-Pacific region.
 Headquartered in Manila, Philippines, ADB comprises 68 member states and is governed by a board of governors,
funded by member contributions, retained earnings, and loan repayments.
 President: Masatsugu Asakawa
NABARD and AGRICULTURE

Total foodgrain production is estimated at 3288.52 LMT, higher by 211.00 LMT from average foodgrain
production of last 5 years
 Third Advance Estimates for 2023-24 agricultural year includes production and yield for Kharif, Rabi,
and Summer seasons, marking a change from previous estimates which only considered Kharif and
Rabi.
 Production estimates are based on data from State Agricultural Statistics Authorities (SASAs),
enhanced by Remote Sensing, and other methods like the Weekly Crop Weather Watch Group.
 Total foodgrain production for the year is estimated at 3288.52 LMT, which is slightly less than last
year but higher by 211.00 LMT compared to the average of the last five years.
 Rice and wheat production have shown increases from the previous year, with rice at 1367.00 LMT
and wheat at 1129.25 LMT.
 Significant crops like Shree Anna and Nutri/Coarse Cereals have seen marginal increases in
production, indicating stable growth in these segments.
 Oilseed production, including soybean and rapeseed & mustard, shows an uptick, essential for
understanding market trends and pricing in these commodities.
 Implementation of the Digital General Crop Estimation Survey (DGCES) in 16 states has refined the
accuracy of Rabi crop estimates and influenced summer crop estimates based on the last three years'
average yields.
₹2,000 hike in annual honorarium paid to farmers in Rajasthan
 Rajasthan State government announced an increase in the annual honorarium paid to farmers under
the Kisan Samman Nidhi.
 The BJP-ruled State government will now contribute ₹2,000, increasing the total amount given to each
farm household from ₹6,000 to ₹8,000 per year.
Learn Along:
About Kisan Samman Nidhi
 PM Kisan is a Central Sector scheme with 100% funding from Government of India.
 It has become operational from 1.12.2018.
 Under the scheme an income support of 6,000/- per year (originally) in three equal installments will be provided
to all land holding farmer families.
PM Kisan Nidhi instalment released to 9.3-cr. Farmers

 The Union government released the 17th instalment of the PM Kisan Nidhi scheme, marking the first
decision of the new Narendra Modi government.

Monthly BeePedia
June 2024
 This instalment will benefit 9.3 crore farmers and distribute around ₹20,000 crore, as authorized by
Prime Minister Modi.
Learn Along:
 PM Kisan is a Central Sector scheme with 100% funding from Government of India.
 It has become operational from 1.12.2018.
 Under the scheme an income support of 6,000/- per year (originally) in three equal installments will be provided
to all land holding farmer families.
Nano-Fertilizer Plant at Kakinada
 Coromandel International, an agriculture solutions provider, has opened a nano-fertiliser plant at its
Kakinada complex in Andhra Pradesh.
 Nano fertilisers like Nano DAP and Nano urea ensure optimal nutrient delivery and absorption by
plants, potentially replacing conventional fertilisers and increasing crop yield.
 These fertilisers provide nutrients like nitrogen to crops through fine granules.
 Nano fertilisers are composed of nanoparticles less than 100 nanometers in size.
 The small size of nanoparticles allows them to penetrate plant cells more easily and deliver nutrients
directly to the plant.
APEDA facilitates first Consignment of MD 2 Pineapples from India to UAE
 APEDA facilitated the successful export of the first consignment of MD 2 variety pineapples to the
UAE.
 The consignment comprised 8.7 metric tons (650 boxes) of MD 2 pineapples, flagged off by APEDA
Chairman Shri Abhishek Dev.
 MD 2 pineapples, known for their exceptional sweetness and quality, are also cultivated in Costa Rica,
the Philippines, and Thailand.
 ICAR CCARI provided technical support for post-harvest management and sea protocol development
in Sindhudurg, Maharashtra.
 The consignment was processed in Panvel, Navi Mumbai and transported via Jawaharlal Nehru Port
Trust (JNPT) to the UAE.
Learn Along:
About APEDA
 The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by
the Government of India under the Agricultural and Processed Food Products Export Development Authority Act
passed by the Parliament in December, 1985
 Headquarters: New Delhi Chairman: Abhishek Dev
Release of 17th Installment of PM-KISAN Scheme
• Union Minister Shri Shivraj Singh Chouhan announced the release of the 17th installment of about Rs
20,000 crore under the PM-KISAN scheme.
• Prime Minister Shri Narendra Modi will visit Varanasi on June 18, 2024, for the release event.
• The event will also include granting certificates to over 30,000 self-help groups as Krishi Sakhis.
• Organized by the Union Ministry of Agriculture and Farmers Welfare in coordination with the Government
of Uttar Pradesh.
Learn Along:
· PM Kisan is a Central Sector scheme with 100% funding from Government of India.
· It has become operational from 1.12.2018.

Monthly BeePedia
June 2024
· Under the scheme an income support of 6,000/- per year (originally) in three equal installments will be provided to
all land holding farmer families.
Siddhesh Sakore Recognized as UNCCD Land Hero
• Siddhesh Sakore, a farmer and founder of AGRO RANGERS from Maharashtra, has been
recognized as a Land Hero by the United Nations Convention to Combat Desertification (UNCCD).
• The recognition was announced on World Desertification and Drought Day.
• The announcement took place during a programme in Bonn, Germany.
• Sakore was honored alongside 10 Land Heroes from around the globe.
• The accolade acknowledges his contributions to sustainable land management and efforts to combat
desertification.
Cabinet Approves Increase in Minimum Support Prices (MSP) for Kharif Crops for Marketing Season
2024-25
• Approval by: Union Cabinet chaired by Prime Minister Shri Narendra Modi.
• Objective: Ensure remunerative prices for growers.
• MSP Increase Highlights
• Nigerseed: Increase by Rs. 983 per quintal.
• Sesamum: Increase by Rs. 632 per quintal.
• Tur/Arhar: Increase by Rs. 550 per quintal.
MSDE Partners with Australian Government to Energise India's Agriculture Sector with Emerging
Skills
• Organizers: Ministry of Skill Development and Entrepreneurship (MSDE) and Australian Government.
• Objective: To enhance the agriculture sector in India with emerging skills.
• Roundtable Discussion: Comprehensive and productive meeting to discuss learnings from the Australia-
India Critical Agriculture Skills Pilot Project.
• Future Plans: Focus on scaling the initiative and replicating the model in other sectors.
UP Government to Connect Agri-Startups with E-Commerce Platforms
• Uttar Pradesh (UP) government to connect agriculture commodity startups with ONDC (Open Network for
Digital Commerce) and e-NAM (National Agriculture Market).
• The agriculture department will link Farmer Producer Organisations (FPOs) to ONDC and e-NAM
via a dedicated farmer producer cell.
• Objective: Augment rural incomes and generate employment.
• Startups are free to join any e-commerce or digital marketing platform.
• Goal: Develop UP as the food basket of India and ensure government scheme benefits reach farmers.
• The initiative includes facilitating a transparent agriculture market, and processes for input licensing, mandi
licenses, GST licenses, FSSAI licenses, and market linkage with ONDC and e-NAM.
• ONDC is a private non-profit company established by the DPIIT to develop open e-commerce and promote
local commerce.
Learn Along: -
• What is ONDC? - Open Network for Digital Commerce (ONDC) is a network based on open protocol and will enable
local commerce across segments, such as mobility, grocery, food order and delivery, hotel booking and travel, among
others, to be discovered and engaged by any network-enabled application.
• The platform aims to create new opportunities, curb digital monopolies and by supporting micro, small and
medium enterprises and small traders and help them get on online platforms. It is an initiative of the Department for
Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry.
Web portal for faster bank settlements of interest subvention claims under Agriculture Infrastructure
along with Krishi Katha blogsite

Monthly BeePedia
June 2024
 Union Minister Shri Shivraj Singh Chouhan launched a web portal by DA&FW and NABARD to
automate the settlement of interest subvention claims under the Agriculture Infrastructure Fund (AIF).
 The Agriculture Infrastructure Fund was launched with ₹1 lakh crore funding to increase storage
capacity for crops and reduce farmer losses. The new portal ensures timely settlement of claims within
a day, enhancing transparency and reducing corruption.
 The portal will help banks, DA&FW, and NABARD in accurate calculation and faster settlement of interest
subvention and credit guarantee fee claims.
 Investments worth ₹72,000 crore have been mobilized, with ₹43,000 crore sanctioned for 67,871
projects under AIF.
 Krishi Katha, a blogsite launched by Shri Chouhan, provides a platform for farmers' experiences,
insights, and success stories, promoting knowledge exchange and empowering farmers.
 The Agriculture Infrastructure Fund scheme launched in 2020 aims to develop post-harvest
infrastructure, with 3% interest subvention for loans up to ₹2 crore and reimbursement of credit
guarantee fees.
 Krishi Katha aims to inspire by showcasing innovative farming methods and the transformative power
of community-driven farming, fostering a sense of pride in the farming profession.
PM-KISAN Scheme and Initiatives
o 17th Instalment Release: Prime Minister Narendra Modi released the 17th instalment of about Rs 20,000
crore under the PM-KISAN scheme.
o Krishi Sakhis Certificates: Distributed certificates to over 30,000 self-help groups known as Krishi Sakhis
in Varanasi.
o Financial Impact and Goals
 Direct Benefit Transfer: Highlighted that the PM Kisan Samman Nidhi is the world's largest direct benefit
transfer scheme with more than Rs 3.25 lakh crores transferred to farmers.
 Focus on Women's Income: Krishi Sakhi initiative aims to create 3 crores ‘Lakhpati Didis’, ensuring dignity
and a source of income for beneficiary women.
o Local Impact: Rs 700 crores have been transferred to families in Varanasi alone under the PM-KISAN
scheme.
NATIONAL
Telecommunication Mobile Number Portability (Ninth Amendment) Regulations, 2024 comes into
force from July 01
 TRAI issued the Telecommunication Mobile Number Portability (Ninth amendment) Regulations,
2024 on 14th March, 2024, effective from 1st July 2024.
 The amendment aims to curb fraudulent SIM swaps/replacements by introducing an additional criterion
for rejecting requests for a Unique Porting Code (UPC).
 A UPC will not be allocated if the request is made within seven days of a SIM swap/replacement.
Viability Gap Funding (VGF) Scheme
 The Union Cabinet approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects
with an outlay of Rs. 7453 crore.
 The scheme includes 1 GW of offshore wind energy projects with an outlay of Rs. 6853 crore,
featuring 500 MW projects off the coasts of Gujarat and Tamil Nadu.
 Offshore wind energy offers advantages like higher adequacy, reliability, and lower storage
requirements.

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June 2024
 The VGF scheme is overseen by the Ministry of New and Renewable Energy and aligns with the
National Offshore Wind Energy Policy of 2015.
 VGF provides up to 40% of the total project cost to support infrastructure projects that are
economically justified but not financially viable.
 VGF support will reduce the cost of power from offshore wind projects, making them viable for
purchase by Distribution Companies (DISCOMs).
Om Birla re-elected as Lok Sabha Speaker
 Om Birla, NDA candidate and MP from Kota, re-elected as Speaker of the Lok Sabha through voice
votes.
 Motion for his election moved by Prime Minister Narendra Modi and seconded by Defence Minister
Rajnath Singh.
 Om Birla's re-election marks a key moment in the 18th Lok Sabha session from June 24 to July 3.
₹ 860.35 Cr approved under SBM-U 2.0 to boost urban swachhata infrastructure in West Bengal
 MoHUA approved proposals worth ₹860.35 Cr for West Bengal under SBM-U 2.0.
 Total fund allocation for West Bengal increased from ₹911.34 Cr in SBM-U (2014-19) to ₹1449.30 Cr in
SBM-U 2.0 (2021-26).
 118 legacy waste dumpsites in West Bengal, with only 5% remediated so far; Dhapa landfill in Kolkata
undergoing bio-mining and bioremediation.
 West Bengal generates 4,046 tons of municipal solid waste per day; proposed projects include 4800
composting plants, 4500 Material Recovery Facilities (MRFs), and 2216 Secured Landfill Facilities
(SLFs).
 460 Compressed Bio-Gas (CBG) plants approved to push Waste to Energy initiatives.
 Proposals worth ₹217 Cr approved for remediation of legacy waste in over 100 ULBs.
 GoI released an additional ₹209 Cr to fast-track sanitation and waste management projects, aiming for
waste processing plants in all cities by 2026 under Swachh Bharat Mission-Urban.
Learn Along:
About Swachh Bharat Mission
 The Swachh Bharat Mission - Urban (SBM-U), launched on 2nd October 2014 aims at making urban India free
from open defecation and achieving 100% scientific management of municipal solid waste in 4,041 statutory towns
in the country.
 The second phase of SBM-U was launched on 1st October 2021, for a period of 5 years. The vision for SBM-U
2.0 is to achieve “Garbage Free” status for all cities by 2026.
DG, RPF launches Sangyaan App- A Comprehensive application for legal reference
 RPF Director General Shri Manoj Yadava launched the Sangyaan App, developed by the RPF Tech
Team.
 The app provides comprehensive information on three new Criminal Acts: Bharatiya Nyaya Sanhita
(BNS) 2023, Bharatiya Nagarik Suraksha Sanhita (BNSS) 2023, and Bharatiya Sakshya Adhiniyam
(BSA) 2023.
 Key Features: user-friendly navigation, searchable database, offline access, comparison of new and old
laws, section-wise analysis, and advanced search tools.
 Inclusive Legal Database: Includes essential acts like The Railway Protection Force Act, 1957, The
Railway Act, 1989, and The Railway Property (Unlawful Possession) Act, 1966.
 Handbook on BNSS 2023: Released in both e-book and print formats for practical application.
 Reflects RPF's commitment to transparency, accessibility, and leveraging technology for operational
excellence.
India's Largest Leopard Safari Roars At Bannerghatta Biological Park

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June 2024
 Bannerghatta Biological Park near Bengaluru launched India’s largest leopard safari covering 20
hectares.
 The safari features semi-deciduous forests, rocky outcrops, and high-security measures including a 4.5-
metre vertical chain-link mesh and 1.5-metre metal sheets.
 Inaugurated by Environment Minister Eshwar Khandre on June 26, 2024, it currently houses eight
leopards with plans to introduce 14 more from the rescue centre.
 Rescued leopard cubs from Karnataka will add to the population, with a dedicated four-acre area for new
leopards to adjust.
 Set up at a cost of INR 4.5 crore, adhering to Central Zoo Authority guidelines for safety and visitor
experience.
 Additional initiatives include a renovated elephant weaning centre, a kids’ play area, and afforestation
efforts with saplings sold at discounted rates.
Pench Tiger Reserve Launches First AI Fire Detection System
 Pench Tiger Reserve in Maharashtra introduced an AI system for early forest fire detection on June 26,
2024.
 A PTZ camera on a 540-meter-high hill near Kirringisarra covers 350 square kilometers with a 15-kilometer
field of view.
 The AI platform "Pantera" uses high-resolution camera feeds and satellite data to send real-time fire
reports within three minutes.
 Pantera features infrared technology for accurate smoke detection, reducing false alarms and enhancing
fire alert reliability.
 The system integrates weather data for predictive analysis and tracks resource locations with GPS for
efficient response operations.
 Collaboration involved Pench Tiger Reserve, Satpuda Foundation, Umgrameio, Forest Fire Tech, with
funding from Solar Industries India Ltd. and the Maharashtra government.
Inauguration of New Nalanda University Campus at Rajgir, Bihar
• Prime Minister Shri Narendra Modi inaugurated the new campus of Nalanda University.
• The University is a collaboration between India and East Asia Summit (EAS) countries.
• Eminent attendees included the Head of Missions from 17 countries.
• Campus Features
• Academic Blocks: 40 classrooms with a seating capacity of around 1900.
• Auditoriums: Two, each with a capacity of 300 seats.
• Hostel: Capacity for around 550 students.
• Additional Facilities: International Centre, Amphitheater (capacity 2000), Faculty Club, and Sports
Complex.
• Environmental Sustainability
• The campus is a ‘Net Zero’ Green Campus, self-sustainable with solar plants, water treatment plants, and
water recycling facilities.
• It includes 100 acres of water bodies and other environmentally friendly features.
Cabinet Approves National Forensic Infrastructure Enhancement Scheme (N.F.I.E.S.)
• Financial Outlay: Rs. 2254.43 crore for campuses, labs, and infrastructure enhancement.
• Approval Date: 19 June 2024.
• Duration: 2024-25 to 2028-29.
• Scheme Components
• Establishment of Campuses of the National Forensic Sciences University (NFSU).
• Establishment of Central Forensic Science Laboratories across the country.
• Enhancement of Existing Infrastructure at the Delhi Campus of NFSU.

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June 2024
Objectives
• Effective and Efficient Criminal Justice System: Based on scientific and timely forensic examination.
• High-Quality Forensic Professionals: Emphasis on training for timely and scientific evidence examination.
• Technological Advancements: Leveraging advancements and evolving crime methods for better justice
processes.
Indian Railways Enters Limca Book of Records
• Indian Railways has been recognized in the Limca Book of Records for the most people at a public
service event at multiple venues.
• The event was organized on 26 February 2024 by the Ministry of Railways.
• 40,19,516 people attended the event across 2,140 venues.
• The event included the inauguration of road over/under railway bridges and the laying of foundation stones
for railway stations.
• The event was inaugurated by Prime Minister Shri Narendra Modi.
The Post Office Act, 2023 comes into Force
o Introduction and Passage: Introduced in Rajya Sabha on 10.08.2023; passed in Rajya Sabha on
04.12.2023 and Lok Sabha on 13.12.2023 and 18.12.2023.
o Presidential Assent and Gazette Notification: Received Presidential assent on 24.12.2023 and published
in the Gazette of India on the same date by the Ministry of Law & Justice.
o Effective Date: The Act came into force on 18th June 2024, repealing the Indian Post Office Act, 1898.
o Key Objectives and Features
 Simplified Legislative Framework: Aims to create a simple legislative framework for delivering citizen-
centric services, banking services, and government scheme benefits.
 Enhanced Ease of Doing Business: Eliminates the exclusive privilege of the Post Office in collecting,
processing, and delivering letters, enhancing ease of doing business and ease of living.
 No Penal Provisions: The Act contains no penal provisions.
 Standards and Addressing: Establishes standards for addressing items, address identifiers, and the usage
of postcodes.
Cyber Surakshit Bharat Initiative
o Conceptualization and Mission: Initiated by the Ministry of Electronics and Information Technology
(MeitY)to spread awareness about cyber-crime and build capacities of Chief Information Security Officers
(CISOs) and frontline IT officials across all government departments.
o Objectives
 Safety Measures: Ensures adequate safety measures to combat the growing menace of cyber-crime.
 Future-Ready: Aims to enable organizations to defend their digital infrastructures and become future-
ready in tackling cyber-attacks.
India & UAE Forge New Path With Local Currency Settlement System To Reshape Economic
Relations
 Introduction of Local Currency Settlement System (LCSS) between India and UAE to revolutionize
economic relations, reducing dependency on intermediary currencies like the US Dollar.
 MOU signed between RBI and Central Bank of UAE during PM Modi's visit for LCSS, allowing
transactions in Indian Rupees and UAE Dirhams, cutting down transaction costs and settlement times.
 Integration of India’s advanced Unified Payments Interface (UPI) with UAE’s payment infrastructure for
seamless, transparent, and cost-effective financial transactions.
 Benefits include simplifying cross-border transactions, reducing costs, and enhancing convenience for
Indian tourists in the UAE through initiatives like linking domestic debit and credit card networks.

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June 2024
 Strategic benefits include supporting $100 billion non-oil trade target by 2030, enhancing financial
stability, and providing a natural hedge against currency fluctuations.
 LCSS framework facilitates easier access to trade credit and export advances in partner currencies,
fostering deeper economic integration and financial transparency.
 LCSS expected to set a precedent for similar arrangements globally, highlighting the importance of
innovative financial solutions in a globalized world.
Learn Along:
About UAE
Capital: Abu Dhabi Currency: UAE dirham
Narendra Modi takes oath as Prime Minister for the third term
 Narendra Modi took oath as Prime Minister for a third consecutive term, equalling Jawaharlal Nehru's
record.
 The new Cabinet includes 35 Cabinet Ministers, 36 Ministers of State, and 5 Ministers of State
(independent charge).
 BJP won 240 seats, while Congress secured 99 seats in the latest Lok Sabha elections.
 Rajnath Singh, Amit Shah, and Nitin Gadkari were among the prominent ministers who took oath.
 The NDA coalition partners were rewarded, with several MPs from Telugu Desam Party (TDP) and
JD(S) inducted into the Cabinet.
 The NDA won 21 out of 25 Lok Sabha seats in Andhra Pradesh, with TDP's Ram Mohan Naidu and
Pemmasani Chandrashekhar among those inducted into the Cabinet.
Priyanka Jarkiholi is the youngest tribal woman to win from an unreserved seat
 Priyanka Jarkiholi of the Congress party won from Chikkodi, defeating BJP leader Annasaheb Jolle.
 At 27 years old , She is the youngest tribal woman to enter Parliament from an unreserved seat in
Karnataka since Independence and the second leader from a reserved community to win a general
seat in Karnataka.
Reliance, Tata, Serum Institute among TIME Magazine's Most Influential Companies list
 Reliance Industries Limited (RIL) and Tata Group have been included in TIME magazine's 2024 list of
the World’s 100 Most Influential Companies.
 RIL was categorized under ‘Titans’ for its significant impact and was dubbed 'India's Juggernaut' by
TIME.
 Serum Institute of India, also featured on the list, was recognized under the ‘Pioneers’ category for its
innovative contributions.
 This marks the second appearance of RIL on the TIME 100 list, distinguishing it as the only Indian
company recognized twice.
 Originally established 58 years ago as a textile firm by Dhirubhai Ambani, RIL has evolved into India’s
most valuable company with a market capitalization exceeding USD 200 billion.
NHRC seeks report on Nata Pratha practice
• The National Human Rights Commission (NHRC) issued a notice to the Union Ministry of Women
and Child Development and the states of Rajasthan, Madhya Pradesh, Uttar Pradesh, and Gujarat
over the practice known as Nata Pratha.

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June 2024
• In some communities of these states, girls are sold either on stamp paper or otherwise in the name
of illegal or child marriage, often by their own families.
• The NHRC emphasized the immoral consequences of Nata Pratha and called for its eradication
and abolition.
• The states have been directed to submit a report on measures taken or proposed to address this
issue within eight weeks.
• The NHRC suggested prosecuting individuals involved in forcing women into Nata Pratha under laws
relating to human trafficking.
Two bird sanctuaries of Bihar added to Ramsar list
 Nagi and Nakti bird sanctuaries in Bihar’s Jamui district have been added to the global list of
wetlands of international importance under the Ramsar Convention, bringing India's total to 82
Ramsar sites.
 Both sanctuaries are man-made reservoirs in the Jhajha forest range, featuring dry deciduous forests
surrounded by hills.
 The recognition was announced on World Environment Day, June 5, aiding in bird conservation
efforts.
 The Nakti Bird Sanctuary was developed for irrigation with the construction of Nakti Dam and provides
habitat for over 150 species, including the endangered Indian elephant and the vulnerable catfish
Wallago attu.
 Designated as a Bird Sanctuary in 1984, Nakti hosts over 20,000 birds during winter, including the
largest congregations of red-crested pochard on the Indo-Gangetic plain.
 The Nagi Bird Sanctuary was formed by damming the Nagi River, providing habitat for over 75 bird
species, including significant numbers of bar-headed geese.
 Nagi is also recognized as an Important Bird and Biodiversity Area (IBA) by BirdLife International due
to its importance for migratory bird species.
Learn Along:
About Ramsar Convention
 The Ramsar Convention on Wetlands is the intergovernmental treaty that provides the framework for the
conservation and wise use of wetlands and their resources.
 The Convention was adopted in the Iranian city of Ramsar in 1971 and came into force in 1975.
 Since then, almost 90% of UN member states, from all the world’s geographic regions, have acceded to become
“Contracting Parties”.
INTERNATIONAL
Somalia Wins Non-Permanent Seat on UN Security Council
 Somalia has achieved a significant milestone by securing a non-permanent seat on the UN Security
Council, the first country to do so since the 1970s.
 The election results were announced after Somalia received 179 votes from the 193-member UN
General Assembly, winning the East Africa seat uncontested.
 The Security Council has 15 members, including 5 permanent members (US, UK, France, China,
Russia) and 10 non-permanent members serving two-year terms without veto power.
 Non-permanent members play a crucial role in influencing debates and votes on key issues like
peacekeeping missions and sanctions.
Learn Along:
About Somalia
Capital: Mogadishu Currency: Somali shilling

Monthly BeePedia
June 2024
Peru Adopts India’s UPI System for Instant Digital Payments
• NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP) partnered
to implement a system in Peru similar to India’s Unified Payments Interface (UPI), making Peru the
first South American country to use NPCI’s technology.
• This partnership is part of NPCI’s plan to expand UPI globally, following a previous agreement with
the Bank of Namibia.
• The collaboration aims to strengthen Peru’s financial system, boost economic growth, improve
financial inclusion, and reduce transaction costs.
• The agreement will facilitate instant money transfers for people and companies in Peru, promoting
digital payments and financial access for the unbanked population.
• The Reserve Bank of India (RBI) supports this international initiative, underscoring its importance for
global acceptance of UPI-like systems.
• NPCI and RBI aim to introduce UPI in 20 countries by 2028–29, with successful implementations
already in France, Sri Lanka, and the UAE.
Learn Along:
• UPI, launched by India’s National Payments Corporation in 2016, enables instant bank transactions via mobile
devices, connects multiple bank accounts to a single app, and works efficiently with minimal data and slow
internet, handling billions of transactions monthly.
21st Shangri La Dialogue Ends in Singapore
 The 21st edition of the Shangri La Dialogue, also known as the Asian Security Summit, concluded on
June 2, 2024, at the Shangri-La Hotel in Singapore, hosting over a hundred delegates from the Asia Pacific
and beyond.
 This premier defence meeting is organized by the International Institute for Strategic Studies (IISS)
in partnership with the Singapore government, focusing on addressing the security challenges in the Asia-
Pacific region.
 The dialogue serves as a critical forum for defence ministers, senior officials, and non-
governmental stakeholders to engage in discussions, bilateral talks, and devise new strategies for
regional security.
 The event was inaugurated by U.S. Secretary of Defense, Lloyd Austin, while China's session was
opened by its defence minister, Admiral Dong Jun, showcasing the participation of major global and
regional powers.
 Notably, India did not participate in this year's dialogue, marking a significant absence given Prime
Minister Narendra Modi's keynote address at the 2018 edition.
Learn Along:
About Singapore
Capital : Singapore Currency: Singapore dollar
Portugal to use golden visa scheme to help build affordable homes
 Portugal plans to adapt its golden visa scheme to allow wealthy foreigners to invest in affordable
housing for locals or accommodation for migrants.
 The new "solidarity visa" will complement the existing golden visa programme, which since 2012
has offered non-EU nationals residency rights in exchange for investments.
 The golden visa scheme has attracted over 7.3 billion euros but has been criticized for exacerbating
the housing crisis.
 Foreigners can no longer buy real estate to secure a visa but can invest in funds, cultural projects,
or generate jobs.
 The new modalities will encourage investments in affordable homes for locals and accommodation
for migrants, promoting their integration.
 800,000 migrants live in Portugal, contributing to the economy but often facing precarious jobs and
housing issues due to high rents and sale prices.

Monthly BeePedia
June 2024
 The investment amount for the new solidarity visa will be set lower than existing modalities to
encourage participation.
Learn Along:
About Portugal
Capital: Lisbon Currency: Euro
Nepal’s largest Hydel project constructed with Indian assistance marks breakthrough
 The Arun III hydropower project in Nepal, constructed with Indian assistance, marked a significant
breakthrough with the completion of the 11.8 KM headrace tunnel.
 The 900 MW run-off-the-river project, started in May 2018, is being constructed on the Arun River with a
budget of about USD 1.4 billion by Satluj Jal Vidyut Nigam (SJVN).
 Around 75% of the project has been completed, with the remaining work progressing rapidly, including
the 217 km-long associated transmission line.
 The project is expected to generate 3,924 million units of electricity annually starting next year and
will provide 21.9% of the generated energy free of cost to Nepal, equivalent to Rs 155 billion.
 The Lower Arun Hydropower Project, a 679 MW tailrace development of Arun III, is also being
developed by SJVN under a USD 1.3 billion deal signed in July 2021.
 Over the 25 years of commercial operation, Arun III is expected to provide direct economic benefits
amounting to Rs 348 billion through dividends, taxes, VAT, customs, and royalties.
Learn Along:
About Nepal
Capital: Kathmandu Currency: Nepalese rupee
World Bank Supports Chennai’s Sustainable Waste Management Goals
 The Greater Chennai Corporation (GCC), with the World Bank's assistance, aims to enhance its trash
handling system, targeting sustainability until 2026 or 2027.
 The primary focus is on preventing trash dumping at Kodungaiyur and eventually stopping the use
of the Perungudi dumpsite.
 A recent strategic meeting between the World Bank, GCC, and state officials emphasized the goal
of achieving Zero Waste.
 The World Bank plans to enhance solid waste management methods across Chennai and the entire
state over the next 20 years through a comprehensive study.
 The GCC will implement new rules to boost recycling and reduce waste sent to landfills, aiming to
create a circular economy with minimal environmental impact.
 Changes include new laws to be passed by the Chennai Corporation Council and addressing
administrative issues to improve civic response and efficiency in all 15 zones of Chennai.
 These efforts signify a serious commitment by the World Bank and GCC to transform Chennai into a
model of environmentally friendly waste management.
Learn Along:
About World Bank
Headquarters: Washington, D.C., United States Founded: July 1944 President: Ajay Banga
Russia and North Korea Sign Defence Pact
• Leaders Involved: Russian President Vladimir Putin and North Korean leader Kim Jong-un.
• Agreement: Mutual aid if either country faces aggression.
• Context: Comes amid escalating tensions with the West and U.S. criticism of North Korea
supporting Russia in Ukraine.
• Details and Reactions
• Nature of the Pact: A significant upgrade in security, trade, investment, cultural, and humanitarian ties.
• Historical Context: The strongest connection since the Cold War.

Monthly BeePedia
June 2024
• Kim Jong-un's Statement: Described the relationship as a "fiery friendship" and the deal as the "strongest
ever treaty."
• Vladimir Putin's Statement: Called the agreement a "breakthrough document."
• Historical Background
• Previous Pact: A similar treaty existed between North Korea and the former Soviet Union, signed
in 1961, and replaced in 2000 with a weaker agreement.
Indian and EU Startups Collaborate on EV Battery Recycling Technologies
• India-EU Trade and Technology Council (TTC) Working Group 2 hosted a startup matchmaking
event for Battery Recycling Technologies for Electric Vehicles (EVs).
• Twelve high-impact startups were shortlisted by an independent Committee of Experts from India and the
EU based on scientific merit, market readiness, and cooperation prospects.
• The event aligns with the commitment of India and the EU to promote a sustainable agenda, foster
innovation, and strengthen economic relations.
• This initiative supports enhanced cooperation in the EV battery recycling sector, highlighting shared goals
in sustainability and technological advancement.
Gassy cows and pigs will face a carbon tax in Denmark, a world first
 Denmark will tax livestock farmers for greenhouse gas emissions from cows, sheep, and pigs starting
in 2030, aiming to reduce emissions by 70% from 1990 levels.
 The tax will start at 300 kroner ($43) per ton of CO2 equivalent in 2030, rising to 750 kroner ($108) by
2035, with an income tax deduction reducing the actual cost.
 Methane, a potent greenhouse gas, traps 87 times more heat than CO2 over 20 years, with livestock
accounting for 32% of human-caused methane emissions.
 This tax is part of Denmark's goal to become climate neutral by 2045 and is seen as a historic
compromise by the Danish Society for Nature Conservation.
 The initiative follows similar efforts in New Zealand and comes amid European farmers' protests against
climate regulations.
 Denmark's parliament is expected to pass the tax following broad consensus among government, industry,
and unions.
Learn Along:
About Denmark
Capital: Copenhagen Currency: Danish krone
Paraguay joins International Solar Alliance as 100th full member
 Republic of Paraguay became the 100th full member of the International Solar Alliance (ISA).
 ISA was launched on 30 November 2015 by Prime Minister Narendra Modi and President of France
Emmanuel Macron during COP21 in Paris.
 ISA aims to accelerate solar energy deployment globally to support Climate Action.
 India plays a crucial role, implementing projects like solarisation of Malawi’s Parliament, solar-powered
healthcare in Fiji, and cold storage in Seychelles.
 India's leadership in ISA showcases its commitment to sustainable energy and environmental
stewardship.
 ISA promotes global collaboration for clean energy and climate change combat.
Learn Along:
About ISA
 The ISA was conceived as a joint effort by India and France to mobilize efforts against climate change through
deployment of solar energy solutions.
 It was conceptualized on the sidelines of the 21st Conference of Parties (COP21) to the United Nations
Framework Convention on Climate Change (UNFCCC) held in Paris in 2015.
 Director General: DR. AJAY MATHUR

Monthly BeePedia
June 2024
Tajikistan hijab ban
 The Tajikistan government has formally banned the hijab through legislation passed by both houses
of Parliament.
 The new law amends the existing law ‘On Regulation of Holidays and Ceremonies’ and bans the
import, sale, promotion, and wearing of clothing deemed foreign to national culture, targeting the hijab and
other Islamic garments.
 Violations of the law can result in fines ranging from 7,920 somonis ($747) to 39,500 somonis ($3,724).
 The bill also bans Eidi, the custom of gifting money to children during Eid and Navroz, and festivities
around Eid-al-Fitr and Eid-al-Adha.
 The law is seen as a response to increasing religiosity post-Soviet Union, despite some analysts
arguing that the threat from radical Islam in Central Asia is exaggerated.
Learn Along:
About Tajikistan
Capital: Dushanbe Currency:Somoni
STATES
Karnataka govt set to introduce draft Bill to protect gig workers' rights
 The Karnataka government is introducing regulations for food delivery platforms and ride-hailing
companies to protect gig workers' rights, as reported by Moneycontrol.
 The Karnataka Gig and Platform Workers’ Bill mandates companies to register with the Labour
department, ensuring grievance redressal and protection against unjust dismissal.
 The Bill requires all platform-based gig workers and aggregators to register, with an estimated 233,000
gig workers in Karnataka according to a 2022 NITI Aayog report.
 Key provisions include fare contracts with guidelines from the Labour department and enhanced
transparency in algorithmic management.
 The Bill seeks to establish working conditions and Occupational Safety and Health (OSH) standards,
proposing a fee on transaction costs or annual turnover.
 Mohammad Mohsin, principal secretary of the labour department, stated that the Bill aims to provide
basic social security for gig workers.
 The draft Bill will soon be released for feedback, with finalization expected before presenting it in the state
legislature during the monsoon session.
Learn Along:
About Karnataka
Chief minister: Siddaramaiah Governor: Thawar Chand Gehlot Capital: Bengaluru
India’s largest leopard safari opens at Bannerghatta
 South India’s first and country’s largest leopard safari inaugurated by Karnataka Environment
Minister Eshwar Khandre at Bannerghatta Biological Park.
 20 hectares demarcated and fenced for the safari, with eight leopards released.
 Created at a cost of ₹4.5 crore, the area features undulating terrain, natural rocky outcrops, and semi-
deciduous forest.
 The park receives rescued leopard cubs, which are raised and shifted to the safari to educate visitors
about human-animal conflicts and leopard conservation.
 Four acres separated with a solar fence for animal acclimatization.
 Other inaugurated initiatives include a renovated elephant weaning centre, babycare room, children's play
area, and electric buggies.
 Proposed enclosures for emus, rheas, cheetahs, baboons, and wolves, with skywalks to connect the zoo
and butterfly park.
Bioplastic Park to be set up in Uttar Pradesh Lakhimpur Kheri district

Monthly BeePedia
June 2024
 The Yogi Adityanath government in Uttar Pradesh is setting up a bioplastic park to combat pollution
from petroleum-based plastics.
 The Bioplastic Park will be built on 1000 hectares in Kumbhi village, Gola Gokarnnath tehsil,
Lakhimpur Kheri district, with an estimated cost of ₹2000 crore.
 Balrampur Chini Mill will construct the park, with Uttar Pradesh Expressways Industrial Development
Authority (UPEIDA) as the nodal agency.
 Bioplastic is a biodegradable material made from renewable sources like sunflower, corn, and
sugarbeets, and decomposes more quickly than petroleum-based plastics.
 The bioplastic park will reduce environmental pollution, create jobs, and boost the local economy by
providing opportunities for ancillary units.
 The park will also focus on developing and studying new plastic-related technologies, promoting
environmental sustainability and recycling efforts.
Learn Along:
About Uttar Pradesh
Chief minister: Yogi Adityanath Governor: Anandiben Patel Capital: Lucknow
UP To Establish World’s First Asian King Vulture Conservation & Breeding Centre In Maharajganj
 Uttar Pradesh will establish the world’s first conservation and breeding centre for Asian king vultures
in Maharajganj, named the Jatayu Conservation and Breeding Centre.
 The centre aims to improve the population of this critically endangered species, listed on the IUCN red
list since 2007.
 Asian king vultures face endangerment due to habitat loss and the use of diclofenac, a drug poisonous
to vultures.
 The centre will ensure the good health of growing vultures and facilitate their pairing.
 Once a female vulture lays an egg, the pair will be released into their natural environment.
‘January 25 will be observed as Tamil language martyrs’ day’
 January 25 will be observed as ‘Tamil Mozhi Thiyagigal Naal’ (Tamil language martyrs’ day) from 2025.
 June 3, the birth anniversary of former Chief Minister M. Karunanidhi, will be celebrated as ‘Semmozhi
Naal Vizha’.
 Essay writing and elocution competitions for Class XI, XII, and college students will be held across
districts, with winners receiving a total cash prize of ₹1,88,57,000.
 Works of renowned Tamil scholars will be nationalised at a cost of ₹91,35,000.
 Authors and publishers of high-quality books will receive increased cash prizes of ₹50,000 and ₹25,000
respectively.
 A statue of Kavignar Mudiyarasan will be erected in Sivaganga district at a cost of ₹50 lakh.
 The ‘Muthamizh Arignar Kalaignar’ award will be instituted, honoring contributions to the Tamil language
with a ₹10 lakh cash prize and a gold medal.
 Tamil Mandram building in Chandigarh will be expanded, and Tamil Sangam’s auditorium in New Delhi
will be refurbished, each at a cost of ₹50 lakh.
Madhya Pradesh Ministers to now pay Income Tax; Cabinet revokes 52-year-old rule
 Madhya Pradesh cabinet decided on June 25 that State Ministers will have to pay their Income Tax.
 The decision strikes off the 1972 rule where the state government paid Income Tax on ministers' salaries
and perks.
 Chief Minister Mohan Yadav announced the decision, ensuring ministers will pay Income Tax on their
own salaries and allowances.
 The Cabinet accepted the suggestion, leading to the implementation of this decision.
Learn Along:
About Madhya Pradesh

Monthly BeePedia
June 2024
Capital : Bhopal Governor: Mangubhai C. Patel Chief minister: Mohan Yadav
Rajasthan Govt to Invest ₹100 Cr. for Maharana Pratap Tourist Circuit
 Chief Minister Bhajan Lal Sharma announced a Rs 100 crore investment to develop the Maharana
Pratap Tourist Circuit in Rajasthan on 8 June 2023.
 The circuit will include Udaipur, Chawand, Haldighati, Gogunda, Kumbhalgarh, Dewar, Chhapli,
and Chittorgarh, focusing on places associated with Maharana Pratap's life.
 The Rajasthan Tourism Development Corporation will develop museums and basic amenities for
tourists and improve connectivity.
 The project aims to preserve the historical and cultural heritage of the Mewar region, originally
launched in 2005 as the Mewar Complex Circuit.
Learn Along:
About Rajasthan
Founded: 30 March 1949 Governor: Kalraj Mishra Capital: Jaipur
Rajasthan Approves Land Allocation for Solar Projects
• Rajasthan CM Bhajanlal Sharma approved the proposal to allot 4,780 hectares of land for setting
up four solar projects.
• The approval aligns with the aim to make Rajasthan self-reliant and a leader in the energy sector.
• On March 10, the state government signed MoUs worth Rs 1.5 lakh crore.
• The MoUs involve Rajasthan State Electricity Generation Corporation Ltd, NTPC Ltd, NTPC Green
Energy Ltd, Coal India Ltd, and NLC India Ltd.
• The agreements aim to set up 3,325 MW thermal projects and 28,500 MW renewable energy projects
under joint ventures.
• The initiative underscores Rajasthan's commitment to expanding its energy infrastructure and promoting
renewable energy.
Oracle and Tamil Nadu Skill Development Corporation Partnership
• Oracle has partnered with the Tamil Nadu Skill Development Corporation to enhance IT skills among the
state's youth.
• The collaboration is part of the Naan Mudhalvan program.
• The initiative aims to provide training and certification in cutting-edge technologies such as:
◦ Cloud computing
◦ Data science
◦ Artificial intelligence (AI)
◦ Machine learning (ML)
◦ Blockchain
• The program will offer employment-linked opportunities to over 200,000 students.
New Appointed Chief Ministers:
 Pema Khandu was sworn in as Arunachal Pradesh Chief Minister for the third consecutive term.
 Four-time MLA Mohan Charan Majhi will be the next Chief Minister of Odisha.
 Sikkim Krantikari Morcha (SKM) supremo Prem Singh Tamang on June 10 took oath as the Chief
Minister of Sikkim state for the second consecutive term.
Learn Along:
About Arunachal Pradesh
Capital: Itanagar Chief minister: Pema Khandu Governor: Kaiwalya Trivikram Parnaik
About Odisha
Capital: Bhubaneswar Governor: Raghubar Das Chief minister: Mohan Charan Majhi

Monthly BeePedia
June 2024
About Sikkim
Capital: Gangtok Governor: Lakshman Achary Chief minister: Prem Singh Tamang
Arunachal Pradesh approves Rs 100 cr under CM's Social Security Scheme in Arunachal
 Arunachal Pradesh Chief Minister Pema Khandu approved the release of Rs 100 crore under the
Chief Minister's Social Security Scheme (CMSSS) on his first day in office.
 The CMSSS, a state flagship program, provides pensions to elderly persons above 60 years,
widows, and differently abled individuals.
 Approximately 80,000 people across the state will benefit from this scheme.
 The state government emphasizes reaching the needy beneficiaries promptly, guided by Antyodaya
principles focusing on the most vulnerable and marginalized sections of society.
 In the last financial year, Rs 90 crore was allocated, benefiting 56,030 elderly persons, 8,782 widows,
and 3,950 differently abled individuals.
 The scheme, launched by the Khandu government in 2019, deposits money directly into beneficiaries'
accounts through the DBT route.
Assam announces monthly stipend to curb child marriage, support education
 Assam Chief Minister Himanta Biswa Sarma announced a scheme called 'Nijut Moina' to provide
monthly stipends to girl students from class 11 to post-graduation over the next five years.
 The scheme aims to prevent child marriages by making girls financially independent and increasing the
gross enrollment ratio of girls.
 The cabinet approved the scheme, estimating a cost of Rs 1,500 crore over five years to benefit
around 10 lakh girls.
 Monthly stipends: Rs 1,000 for classes 11 and 12, Rs 1,250 for degree students, and Rs 2,500 for post-
graduation students.
 Married girls are not eligible, except those enrolled in PG courses.
 Exclusions: Daughters of ministers, MLAs, MPs, and students in private colleges. Stipends will be
provided for 10 months a year and deposited directly into the students' bank accounts.
 The scheme seeks to delay marriages and support girls' education and financial independence.
Learn Along:
About Assam
Chief minister: Himanta Biswa Sarma Capital: Dispur Governor: Gulab Chand Kataria
Assam Witness Protection Scheme, 2024
 The Assam Cabinet launched the Assam Witness Protection Scheme, 2024 to address increasing
threats to court case witnesses, aligning with Section 398 of the Bharatiya Nagarik Suraksha Sanhita,
2023.
 Witness Protection Scheme allows witnesses to request safety from a Competent Authority in each
district, comprising a District and Sessions Judge, Head of Prosecution, an officer appointed by the District
Magistrate, and the District Police Head.
 Witnesses are classified into three categories (A, B, and C) based on the threat level.
 Protection measures include recorded trials, security systems at witnesses’ homes, and possible
relocation, overseen by a State Witness Protection Authority with a special fund.
 The Assam Cabinet also revised transportation penalties, removing fines for two-wheeler riders without
proper documents but maintaining helmet laws; three-wheelers receive up to four warnings before fines.
 The scheme, initiated in 2020, ensures anonymity, relocation, police protection, and financial support for
witnesses, with risk-based security adjustments and regular monitoring and evaluation.
Himachal to launch scheme for overall growth of children

Monthly BeePedia
June 2024
 Himachal Pradesh government will launch the ‘Himachal Pradesh Early Childhood Care and
Education Tutor Scheme’ in line with the New Education Policy, 2020.
 Aimed at the overall growth of children aged 3 to 6 years.
 6,297 pre-primary sections in primary schools cater to approximately 60,000 children.
 2,377 anganwadis are co-located with these primary schools.
 Rajiv Gandhi Day Boarding School to be launched in every Assembly constituency.
 Announced by Chief Minister Sukhvinder Singh Sukhu.
Learn Along:
About Himachal Pradesh
Chief minister: Sukhvinder Singh Sukhu Capitals: Shimla (Summer), Dharamshala (Winter)
Governor: Shiv Pratap Shukla
Himachal Pradesh to increase prize money for medal winners in sports
 Himachal Pradesh government announced an increase in prize money for medal winners in
international championships under its new sports policy.
 Chief Minister Sukhvinder Singh Sukhu stated the prize for gold medal winners in the Olympics, Winter
Olympics, and Paralympics has been raised from ₹3 crore to ₹5 crore.
 Silver medalists in these events will now receive ₹3 crore, up from ₹2 crore, and bronze medalists will
get ₹2 crore, up from ₹1 crore.
 For the Asian Games and Para Asian Games, the prize for gold medal winners has increased from ₹50
lakh to ₹4 crore.
 Silver medalists in the Asian Games will now receive ₹2.50 crore, up from ₹30 lakh, and bronze
medalists will get ₹1.50 crore, up from ₹20 lakh.
 The new sports policy aims to recognize and encourage sporting excellence and contribute to the
overall development of sports in the State.
Ajrakh Craft and Bela Block Printing
 Ajrakh, a centuries-old resist-dyeing craft from Kutch, Gujarat, has received a Geographical Indication
(GI) tag, providing legal protection.
 Ajrakh uses natural dyes and intricate designs on cotton fabric, featuring vibrant colors like indigo,
red, and white.
 Traditionally, Ajrakh textiles are worn by nomadic communities like Rabaris, Maldharis, and Ahirs.
 Bela Block Printing, another craft from Kutch, is practiced by the Khatri community and known for its
bold designs and graphic motifs.
 Bela Block Printing is listed as an endangered craft by the Office of the Development Commissioner
for Handicrafts.
 The GI tag helps protect and promote these unique textile arts and their cultural heritage.
Kerala includes Artificial Intelligence (AI) learning in school textbooks
 Kerala has launched a groundbreaking initiative to integrate Artificial Intelligence (AI) into the
school curriculum, starting with Class 7 students as part of the Information & Communication Technology
(ICT) curriculum.
 This educational reform is set to affect over 400,000 students across the state, offering them early
exposure to AI starting from the upcoming academic year.
 The curriculum will include practical activities like creating an AI program to recognize up to seven
human emotions, marking a first in India for uniform AI education at such a scale.
 The updated ICT textbooks, to be introduced for Classes 1, 3, 5, and 7 in various language mediums,
aim to enhance skills in critical thinking, analytical abilities, and problem-solving.
 These textbooks will incorporate tools such as ‘PictoBlox’ and ‘Scratch’ software to facilitate learning
in programming, AI, and robotics, supported by the essential software provided on school laptops.

Monthly BeePedia
June 2024
 The initiative also includes training for 80,000 secondary school teachers in AI, with 20,120 already
trained, and upcoming training for all primary school teachers on the new ICT textbooks, indicating a
comprehensive approach to integrating technology in education.
Learn Along:
About Kerala
CM:Pinarayi Vijayan Governor:Arif Mohammed Khan Capital: Thiruvananthapuram
Hyderabad no longer joint capital of Andhra Pradesh
 Hyderabad officially ceased being the common capital of Telangana and Andhra Pradesh on June
2, 2024, transitioning to serve solely as the capital of Telangana, following the terms set by the Andhra
Pradesh Reorganisation Act, 2014.
 The decision marks the end of a 10-year arrangement where Hyderabad was designated as the joint
capital following the bifurcation of Andhra Pradesh into two states in 2014.
 This change was part of the conditions outlined in the Andhra Pradesh Reorganisation Act which
specified that Hyderabad would be the common capital for a maximum of ten years.
 The creation of Telangana, including making Hyderabad its capital, was the culmination of a prolonged
demand for statehood, which was realized on June 2, 2014.
Learn Along:
About Telangana
Capital: Hyderabad Chief minister: Revanth Reddy Founded: 2 June 2014
Nara Chandrababu Naidu set to become Andhra Pradesh CM for fourth time
 Nara Chandrababu Naidu is set to become the Chief Minister of Andhra Pradesh for the fourth time,
following a significant victory over Y.S. Jagan Mohan Reddy’s YSR Congress Party in the Assembly
election.
 The Telugu Desam Party (TDP), as part of the BJP-led National Democratic Alliance (NDA) with Jana
Sena Party (JSP), secured a dominant 135 seats out of 175 in the Andhra Pradesh Assembly.
Learn Along:
About Andhra Pradesh
Governor: S. Abdul Nazeer Capital: Amaravati
Nakshatra Sabha, India’s first Astro tourism campaign In Dehradun
• The Uttarakhand government organized its first Astro-tourism event, named ‘Nakshatra Sabha’, in
Mussoorie on 1 and 2 June 2024, at George Everest Peak.
• The initiative aims to promote Uttarakhand as a multidimensional tourist spot, expanding beyond its
current reputation for spiritual tourism.
• Astro-tourism targets astronomy enthusiasts, adventurers, and travelers, offering them
opportunities to explore the wonders of the universe while enjoying Uttarakhand's natural beauty.
• The event featured stargazing, solar observation, and astrophotography, along with discussions, talks,
competitions, and demonstrations related to astronomy.
• The Uttarakhand Tourism Development Board organized the event in collaboration with Starscapes,
a private astro-tourism company.
• Astro-tourism aims to provide skill development opportunities for local residents and boost local
economies, with plans to implement a dark sky preservation policy across the state.
Learn Along:
About Uttarakhand
Capital : Dehradun Governor: Gurmit Singh Chief minister: Pushkar Singh Dhami
Haryana Removes Age Cap on Farmer Aid Scheme
 The Haryana government has made significant changes to the “Mukhyamantri Kisan Evam Khetihar
Mazdoor Jeevan Suraksha Yojana,” removing the age limits for recipients.

Monthly BeePedia
June 2024
 The scheme provides financial assistance to farmers, agricultural workers, and market yard
workers in case of death or disability while operating agricultural machinery.
 Compensation ranges from Rs 37,500 to Rs 5 lakh, depending on the severity of the incident.
 Previously, the scheme was limited to individuals aged 10 to 65, but now includes all ages, benefiting
children under 10 and adults over 65.
 This change, led by Chief Minister Nayab Singh Saini and Agriculture Minister Kanwar Pal, aims to
extend the safety net to all agricultural workers, regardless of age.
 The policy is part of a broader strategy to ensure effective implementation of agricultural and
horticultural projects.
 The scheme, which started in 2019, does not require beneficiaries to pay a premium and provides up
to 2 lakhs INR in insurance coverage for accidental death or permanent incapacitation, aiming to cover
millions in the farming community.
Learn Along:
About Haryana
Chief minister: Manohar Lal Khattar Governor: Bandaru Dattatreya Capital: Chandigarh
REPORTS AND INDEXES

UNESCO Report Highlights Ocean Crisis, Urges Enhanced Research
 The UNESCO State of Ocean Report 2024 highlights significant knowledge gaps in understanding ocean
functions, emphasizing insufficient data to address ocean crises and implement CO2 removal
technologies.
 Ocean warming: The top 2,000 meters warmed at 0.32 ± 0.03 watts per square meter from 1960 to 2023,
with a notable increase in the last 20 years, leading to irreversible environmental changes. 90% of Earth’s
energy imbalance is absorbed by oceans, increasing Ocean Heat Content (OHC) and causing
deoxygenation.
 Increased ocean acidification: pH levels have dropped by 0.017 to 0.027 units per decade since the late
1980s, exacerbated by human activities such as nutrient runoff. Current data, primarily from open seas, is
insufficient for comprehensive analysis, especially in variable coastal areas.
 Rising sea levels: Global mean sea level has risen by about 3.4 ± 0.3 mm per year from 1993 to 2023,
necessitating improved monitoring tools for accurate evaluation and prediction of future trends.
 The report underscores the urgent need for enhanced data gathering and research to address the
long-term risks associated with ocean warming, acidification, and rising sea levels.
Paris Agreement Climate Finance Target for 2022
 The Organisation for Economic Cooperation and Development (OECD) reported that developed
countries finally achieved the target of mobilizing USD 115.9 billion in climate finance to developing
countries in 2022, which was originally set for 2020.
 Public climate finance, consisting of funds from bilateral and multilateral sources such as the World Bank,
dominated, making up 80% of the total financial flow in 2022.
 Loans from Multilateral Development Banks (MDBs) formed 90% of this finance, raising concerns
about increasing debt burdens in developing countries.
 Distribution of funds varied by income level, with lower-income countries receiving 64% of their public
climate finance as grants, while lower-middle-income countries received only 13% as grants.
 A significant portion of the climate finance was directed towards mitigation efforts, with adaptation
activities receiving about USD 32.4 billion in 2022.

Monthly BeePedia
June 2024
 Critics and experts have called for more transparent accounting and a redefinition of what constitutes
climate finance, emphasizing that the current reliance on loans contradicts climate justice
principles.
 Discussions are ongoing about setting a new, more ambitious New Collective Quantified Goal (NCQG)
on climate finance at the COP29 summit in November 2024 in Baku, Azerbaijan, which will replace the
2015 Paris Agreement commitments starting from 2025.
Global Unemployment Rate to Marginally Decrease in 2024
 The International Labour Organisation (ILO) has updated its global unemployment forecast for 2024,
lowering the expected rate to 4.9% from a previous estimate of 5.2%.
 This adjustment is largely attributed to unexpectedly low unemployment rates in China, India, and
high-income countries recorded earlier this year.
 The report anticipates that the downward trend in unemployment will stabilize, with the rate projected
to remain at 4.9% in 2025.
 Despite these improvements, the ILO emphasizes continued inequalities in labor markets, particularly
affecting women in low-income countries.
 The ILO, a United Nations agency established in 1919, is dedicated to promoting social and economic
justice through setting international labor standards.
 It functions as a tripartite organization consisting of representatives from governments,
employers, and workers, with a membership of 187 countries including India as a founding member, and
is part of the United Nations Development Group working towards the Sustainable Development Goals.
QS Rankings: IIT Bombay, IIT Delhi in top 150
 IIT Bombay and IIT Delhi are among the top 150 universities globally in the QS World University
Ranking 2025.
 IIT Bombay improved its rank from 149 to 118, a jump of 31 ranks.
 IIT Delhi climbed 47 ranks to achieve the 150th position.
 University of Delhi was ranked 44th globally in the category of “employment outcomes”.
 With 46 universities in the rankings, the Indian Higher Education system is the seventh most
represented globally and third in Asia.
 India has one more university in the top 150 (IIT Delhi) and two more in the top 400, with University of
Delhi (328th) and Anna University (383rd) making their debut in this tier.
 Massachusetts Institute of Technology (MIT) retained the top rank globally for the 13th consecutive
time.
Catla Among Top 10 Harvested Aquatic Species in 2022
 The UN study "The State of World Fisheries and Aquaculture 2024" reported that Catla (Labeo catla)
was one of the most fished marine species in 2022, with a yield of over four million tonnes, ranking
eighth globally.
 Catla is native to river systems in northern India and surrounding areas like Bangladesh, Nepal,
Myanmar, and Pakistan, and is now widespread in Indian reservoirs and tanks.
 Catla farming, along with Rohu (Labeo rohita) and Mrigal (Cirrhinus mrigala), is among the top three
species in India's inland farming business.

Monthly BeePedia
June 2024
 The Whiteleg shrimp (Penaeus vannamei) was the most abundant marine species grown in 2022,
followed by Cupped oysters, Grass carp, and Nile tilapia. Aquaculture now produces more aquatic animals
than wild fisheries, comprising 51% of all output by 2022.
 Inland aquaculture is significant, producing 62.6% of all raised aquatic animals, indicating a shift
towards farming marine and freshwater species.
 Catla is important to the economy of South Asia, providing a major protein source through aquaculture
projects due to its fast growth, disease resistance, and productivity.
 Catla's habitat includes rivers, lakes, and reservoirs, and it is a surface feeder primarily consuming
zooplankton, contributing to the balance of freshwater ecosystems.
India Among Top Five Global Destinations for Real Estate Investment
 According to a study by Colliers, India ranked among the top five places globally to invest in real
estate by March quarter, with 55% of inflows from foreign investors.
 Foreign investments in Indian real estate reached $3.6 billion in 2023, constituting 67% of total inflows,
primarily targeting office spaces ready for immediate use.
 Institutional investors favor finished and rented homes for steady returns, but there is a shift towards
collaborating with local developers on new projects, including office, residential, and industrial spaces.
 Economic growth, strong demand, and a favorable business climate attract global capital
investors, with optimism reflected in investments across stages like platform formation, land purchase,
and construction.
 Active investors in the Indian market include PAG Credit and Markets, Ivanhoe Cambridge, Logos,
Alta Capital, and CPPIB, with significant investments in residential and warehouse assets.
 Major investments in residential real estate increased by 20% in 2023, with notable growth in land
purchases for residential projects over the past two years.
 India's "Make in India" program significantly boosted FDI, making the country a prime destination for
foreign direct investment, particularly in digitization and the tech industry.
Visakhapatnam Port Is Ranked In Top 20 Of The World Bank CPPI
 Visakhapatnam Port ranks 19th in the Container Port Performance Index 2023, surpassing Mundra
Port. J M Baxi Ports & Logistics operates a high-capacity terminal, which contributes to its efficiency.
 The Container Port Performance Index 2023, compiled by the World Bank and S&P Global Market
Intelligence, assesses port efficiency globally, with a focus on vessel time in port.
 Visakhapatnam Port, managed by J M Baxi Ports & Logistics, ranks 19th, showing higher efficiency
than Mundra Port.
 Visakha Container Terminal Pvt Ltd, a subsidiary of J M Baxi Ports & Logistics, boasts impressive
efficiency indicators such as moves per crane hour, turnaround time, and berth idle time.
 The milestone has received recognition from stakeholders and government authorities,
demonstrating the port's importance in India's marine sector and adherence to the marine India Vision
2030 standards.
 The port authority intends to improve performance and reward the terminal operator, demonstrating
its commitment to operational excellence.
Study ranks India second in nitrous oxide emissions

Monthly BeePedia
June 2024
 India is the world's second largest source of nitrous oxide (N2O), accounting for nearly 11% of global
man-made emissions in 2020, with China leading at 16%.
 The major source of these emissions is fertilizer usage, as noted in a global assessment of N2O
emissions published in Earth System Science Data.
 In 2022, atmospheric N2O concentration was about 25% above pre-industrial levels, while carbon
dioxide concentration was 417 parts per million.
 Despite lower atmospheric concentration compared to CO2, N2O has a significant impact due to its
longer atmospheric lifespan and rapid increase, necessitating urgent attention.
 N2O emissions from human activities have risen by 40% over the past four decades, with recent
growth rates (2020-2022) being the highest since 1980.
 Agricultural production using nitrogen fertilizers and animal manure contributed 74% of total
anthropogenic N2O emissions in the last decade.
 N2O emissions are responsible for 6.4% of the effective radiative forcing of greenhouse gases, adding
about 0.1 degree Celsius to global warming. Experts call for India to change cropping systems and
production practices in response to this alarming trend.
Infosys ranked 74th most valuable global brand in Kantar BrandZ report
 Infosys has been ranked among the 100 most valuable brands in the world by Kantar, securing the
74th position globally and 20th among global B2B technology brands.
 The Kantar BrandZ Most Valuable Global Brands report highlights client trust in Infosys and the
relevance of its capabilities, especially in areas like enterprise AI.
 CredAble, a fintech firm, raised Rs 3 crore in debt funding from SIDBI to scale up operations and
provide affordable financing solutions to MSMEs and women-led businesses in India.
 The funding will accelerate the development of new market-leading financing solutions for
CredAble's global customer base.
 CredAble's AI-powered technology platform offers large-scale liquidity programmes tailored to the
unique needs of enterprises and their network of MSME suppliers.
Credit Conditions Asia-Pacific H2 2024 Credit Outlook

 India will remain the fastest-growing economy in the Asia-Pacific region in 2024, sustaining
domestically driven momentum from the previous year.
 Moody's Ratings report titled Credit Conditions Asia-Pacific H2 2024 Credit Outlook highlights India,
Indonesia, and the Philippines leading growth in H1 2024, outperforming pre-COVID growth due to rising
exports, local demand, and government infrastructure spending.
 Policy continuity and focus on infrastructure development and private sector investment are
anticipated post-general election in India.
 Stronger portfolio inflows are expected in India and ASEAN economies, driven by robust corporate
credit metrics and appealing valuations.
 Moody's projects India's growth at 6.8% in 2024 and 6.5% in 2025, following strong economic
expansion and post-election policy stability.
 India's real GDP grew 7.7% in 2023, up from 6.5% in 2022, driven by robust capital spending and strong
manufacturing activity.
Global Gender Gap index 2024: WEF

Monthly BeePedia
June 2024
 India slipped two places to 129th on the World Economic Forum's Global Gender Gap index, while
Iceland retained the top position.
 In South Asia, India ranked fifth after Bangladesh, Nepal, Sri Lanka, and Bhutan, with Pakistan
ranked last.
 India was among the economies with the lowest levels of economic parity, registering less than 30%
gender parity in estimated earned income.
 India showed the best gender parity in secondary education enrolment and ranked 65th in political
empowerment. For female/male heads of state in the last 50 years, India ranked 10th.
 India's gender gap was 64.1% closed in 2024, with declines in 'Educational Attainment' and 'Political
Empowerment', but slight improvements in 'Economic Participation' and 'Opportunity'.
 The WEF reported that the world has closed 68.5% of the gender gap, but at the current pace, it will
take another 134 years to achieve full gender parity.
UK Becomes India’s Fourth-Largest Export Market
• The United Kingdom (UK) has overtaken China to become India’s fourth-largest export market in
May.
• The UK was previously India’s sixth-largest export destination in May of the previous year.
• Exports to the UK grew by a third to $1.37 billion in May.
• Shipments to China grew by 3% to $1.33 billion last month.
• Key exports to the UK include:
o Machinery
o Food items
o Pharmaceutical products
o Textiles
o Jewellery
o Iron and steel
• India’s top 10 export markets all witnessed positive growth in May, reversing a trend of contraction in some
markets for more than a year.
Global Nuclear Weapons Landscape and Spending Trends
• According to the Stockholm International Peace Research Institute (SIPRI), the United States leads
global nuclear weapons expenditures, followed by China and Russia.
• This surge in spending reflects a renewed emphasis on nuclear deterrence strategies reminiscent of the
Cold War era.
• Key Findings from the SIPRI Report
• Nine nuclear-armed states, including major powers such as the US, Russia, and China, have increased
efforts to modernize and expand their nuclear capabilities in 2023.
• Global spending on nuclear weapons reached $91.4 billion in 2023, equating to $2,898 per second,
marking a $10.7 billion increase from the previous year. The US alone accounted for 80% of this rise.
• India and Pakistan have continued to enhance their nuclear arsenals, with India now reportedly possessing
172 nuclear warheads compared to Pakistan’s 170. India’s focus has expanded towards longer-range
weapons capable of reaching throughout China.
• China significantly increased its nuclear arsenal from 410 to 500 warheads in 2023. The country aims to
match the intercontinental ballistic missile (ICBM) capabilities of Russia and the US by the end of the
decade.
Mumbai Retains Top Spot as India’s Most Expensive City for Expats: Mercer Report

Monthly BeePedia
June 2024
 The Mercer 2024 Cost of Living Survey, released on June 17, confirms Mumbai as India’s most
expensive city for expatriates, ranking 136th globally and 21st in Asia. New Delhi follows at 30th in Asia,
reflecting significant shifts in cost dynamics across Indian cities.
 Despite global economic challenges, India remains resilient, offering competitive advantages for
multinational organizations aiming to attract global talent.
 Hong Kong tops the global list as the most expensive city for international assignees, with
Southeast Asian cities dominating the upper echelons of costliness.
National Monetisation Pipeline Achievements (2021-2024)
• Initiative: National Monetisation Pipeline (NMP).

• Announcement: Union Budget 2021-22.
• Prepared by: NITI Aayog in collaboration with Infrastructure Ministries.
• Period: 2021-22 to 2024-25.
• Monetisation Potential: Rs. 6 lakh crore.
Achievements
o Total Monetised: Rs. 3.85 lakh crore in 3 years.
o Year-wise Targets and Achievements:
2021-22 and 2022-23:
 Target: Rs. 2.5 lakh crore.
 Achieved: Rs. 2.30 lakh crore.
2023-24:
 Target: Rs. 1.8 lakh crore.
 Achieved: Rs. 1.56 lakh crore (159% of 2021-22 achievement).
Top Performing Ministries (2023-24)
• Ministry of Road Transport and Highways: Rs. 97,000 crore.
• Ministry of Coal: Rs. 97,000 crore.
Future Plans
• NHAI Initiative:
o Identified Assets: 33 assets to be monetised in 2024-25.
o Transparency: Published macroeconomic assumptions for calculation of IECV to increase bidding success
rate.
Indian Ports Achieve Global Top 100 Ranking

• Achievement: 9 major ports in India have made it to the Global Top 100 by the World Bank, a first for the
country.
• Announcement by: Shri Sarbananda Sonowal.
• Notable Rankings
• Visakhapatnam Port:
• 2023 Rank: 19th globally.
• Previous Rank: 115th in 2022.
• Significance: First time an Indian port has made it to the Top 20.
• Mundra Port:
• 2023 Rank: 27th globally.
• Previous Rank: 48th last year.
• Measurement Criteria
• Index: Container Port Performance Index (CPPI).
• Developed by: World Bank and S&P Global Market Intelligence.
• Criteria: Resilience, efficiency, and overall performance of ports.

Monthly BeePedia
June 2024
India's Seafood Exports Reach All-Time High in 2023-24
 Volume and Value: India shipped 17,81,602 MT of seafood worth ₹60,523.89 crore (US$7.38 billion) in FY
2023-24.
 Frozen Shrimp: Major export item, earning ₹40,013.54 crore (US$4881.27 million), with a 40.19% share
in quantity and 66.12% in dollar earnings. Exported 7,16,004 MT.
 Major Importers: USA (2,97,571 MT), China (1,48,483 MT), followed by the European Union,
Southeast Asia, Japan, and the Middle East.
 Key Export Increases
o Overall Export Increase: 2.67% in quantity from the previous year.
o Black Tiger Shrimp: Increased by 24.91% in quantity, 11.33% in value (₹2855.27 crore), and 8.28% in
dollar terms (US$347.84 million).
▪ Major Destinations: China (28.43% share), USA (18.21%), European Union (18.06%), Japan (13.12%).
o Scampi Exports: Increased by 6.42% in quantity, 23.22% in value, and 18.96% in dollar terms.
 Challenges and Performance
o Export Challenges: Faced in major markets like the USA, EU, and the UK.
o Vannamei Shrimp: Volume increased by 0.33%, but dollar value declined by 11.56% from US$ 4809.99
million to US$ 4253.86 million.
India's Major Seafood Export Destinations in 2023-24

USA
 Value: US$2,549.15 million, 34.53% share in US$ value.
 Performance: Increased by 7.46% in quantity and 1.42% in ₹ value; declined by 3.15% in US$ value.
 Major Export Item: Frozen shrimp (91.90% share in US$ value), Black tiger shrimp exports increased by
35.37% in quantity and 32.35% in US$ value.
China (excluding Hong Kong and Taiwan)
 Volume and Value: 4,51,363 MT, US$1,384.89 million, 25.33% share in quantity and 18.76% in US$ value.
 Performance: Increased by 12.80% in quantity; declined by 0.88% in ₹ value and 4.21% in US$ value.
Major Export Items:
o Frozen shrimp (32% in quantity, 55.11% in US$ value).
o Frozen fish (36.83% in quantity, 21.56% in US$ value).
Japan
 Share: 6.06% in quantity and 5.42% in US$ value.
 Major Export Item: Frozen shrimp (33.26% in quantity, 65.94% in ₹ value, 65.98% in US$ value).
Vietnam
 Volume and Value: 1,32,086 MT, US$391.41 million.
 Major Export Items:
o Frozen shrimp (55.43% in US$ value, 30.11% in quantity).
o Dried items.
Thailand
 Volume and Value: 1,38,457 MT, US$281.97 million, 3.82% US$ share, 7.77% volume share.
 Major Export Item: Frozen fish (44.37% in US$ value, 63.91% in quantity).
Canada
 Volume and Value: 24,956 MT, US$199.13 million, 2.70% US$ share, 1.40% volume share.
 Major Export Item: Frozen shrimp (93.36% in US$ value, 89.48% in quantity).
Spain
 Volume and Value: 39,849 MT, US$195.95 million, 2.65% US$ share, 2.24% volume share.
 Major Export Item: Frozen cuttlefish (44.01% in US$ value, 33.01% in quantity).
Other Significant Markets
 Belgium: 2.42% US$ share.

Monthly BeePedia
June 2024
 United Arab Emirates (UAE): 2.15% US$ share.

 Italy: 2.14% US$ share.
ESIC Provisional Payroll Data for April 2024
 New Employees Added: 16.47 lakh in April 2024.

 New Establishments: 18,490 brought under the ESI Scheme.
 Youth Employment: 7.84 lakh new employees (47.60% of total registrations) are in the age group up to 25
years.
Sweden Tops, India at 63rd Rank on Global Energy Transition Index: WEF
 According to the Global Energy Transition Index released by the World Economic Forum (WEF), India has
been ranked 63rd out of 120 countries, improving three ranks from last year’s 67th position.
 Sweden has again topped the Index, reflecting its continued leadership in energy transition.
 The WEF highlighted India’s significant advancements in energy equity, security, and sustainability.
 European nations dominate the 2024 Index’s top ranks:
 Sweden
 Denmark
 Finland
 Switzerland
 France
Learn Along
• The World Economic Forum is an international advocacy non-governmental organization and think tank, based in
Cologny, Canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer Klaus Schwab.
• HQ- Cologny, Switzerland
Artificial Intelligence Preparedness Index 2024 – India Ranks at 72nd
 The International Monetary Fund (IMF) released the Artificial Intelligence Preparedness Index (AIPI)
Dashboard, ranking 174 countries on AI readiness.
 Countries are categorized into Low-Income Countries (LIC), Emerging Market Economies (EM), and
Advanced Economies (AE).
 Top AI-ready countries are Singapore, Denmark, and the United States with scores of 0.80, 0.78, and
0.77 respectively; India ranks 72nd with a score of 0.49.
 The AIPI evaluates countries based on digital infrastructure, human capital, creativity and economic
integration, and regulations.
 AI could threaten 40% of global jobs, with 33% in AEs, 24% in EMs, and 18% in LICs, but also has the
potential to boost productivity and create new industries.
 The AIPI Dashboard helps policymakers and researchers make informed decisions to balance AI benefits
and address economic inequality.
RBI releases the Financial Stability Report, June 2024
 The Reserve Bank released the 29th Financial Stability Report (FSR) assessing the resilience of the
Indian financial system and risks to financial stability.
 Global economy faces risks from geopolitical tensions, elevated public debt, and slow disinflation
progress, yet remains resilient.
 The Indian economy and financial system are robust and resilient, with improved balance sheets and
sustained credit expansion by banks.
 CRAR and CET1 ratios of scheduled commercial banks (SCBs) were 16.8% and 13.9%, respectively,
at end-March 2024.
 SCBs' gross non-performing assets (GNPA) ratio fell to a multi-year low of 2.8%, and the net NPA ratio
to 0.6% at end-March 2024.

Monthly BeePedia
June 2024
 Macro stress tests show SCBs can meet minimum capital requirements under various stress scenarios,
with system-level CRAR projected at 16.1%, 14.4%, and 13.0% for baseline, medium, and severe
scenarios, respectively.
 Non-banking financial companies (NBFCs) remain healthy with CRAR at 26.6%, GNPA ratio at 4.0%,
and RoA at 3.3% at end-March 2024.
World's most liveable cities for 2024: Vienna clinches top spot once again
 Vienna has been named the most liveable city in the world for the third consecutive year, according to
the Economist Intelligence Unit (EIU).
 EIU evaluated 173 cities globally on healthcare, culture and environment, stability, infrastructure,
and education, with Vienna achieving perfect scores in four categories.
 Top 10 most liveable cities in 2024: Vienna (Austria), Copenhagen (Denmark), Zurich (Switzerland),
Melbourne (Australia), Calgary (Canada), Geneva (Switzerland), Sydney (Australia), Vancouver (Canada),
Osaka (Japan), and Auckland (New Zealand).
 North America saw Honolulu at 23rd, Atlanta at 29th, Los Angeles at 58th, and New York at 70th.
 Hong Kong improved significantly, moving from 61st to 50th place, while Tel Aviv dropped to 112th due
to ongoing conflicts.
 The least liveable cities include Damascus (Syria), Tripoli (Libya), Algiers (Algeria), and Lagos
(Nigeria).
WORLD INVESTMENT REPORT 2024
 The World Investment Report 2024 was published by the UN Conference on Trade and Development
(UNCTAD).
 The report focuses on trends in foreign direct investment (FDI) worldwide, at regional and country
levels, and measures to improve its contribution to development.
 Global FDI in 2023 decreased marginally by 2%.
 FDI flows to developing countries fell by 7% to $867 billion, with developing Asia experiencing an 8%
decrease.
 China, the second-largest FDI recipient, saw a rare decline in inflows.
 There was lower investment in infrastructure and the digital economy, but strong growth in
manufacturing and critical minerals sectors.
 International investment in Sustainable Development Goals (SDG) sectors in developing countries
declined in 2023.
 UNCTAD is the UN's leading institution dealing with trade and development, established in 1964,
headquartered in Geneva, Switzerland, and has 195 member states.
India now 3rd-largest domestic airline market; capacity doubles in 10 yrs
 India is now the third-largest domestic airline market in the world, up from the fifth position a decade
ago, with domestic airline capacity doubling from 7.9 million in April 2014 to 15.5 million in April 2024.
 India has overtaken Brazil (now fourth with 9.7 million) and Indonesia (now fifth with 9.2 million),
while the US (86.1 million) and China (67.8 million) hold the top two positions.
 India's capacity growth rate is the highest among the top five countries at 6.9% annually, followed by
China at 6.3%, the US at 2.4%, Indonesia at 1.1%, and Brazil with a decline of 0.8%.
 The transition to low-cost carriers (LCCs) in India has been significant, with LCCs accounting for 78.4%
of domestic capacity in April 2024, led by IndiGo, which grew its market share from 32% to 62% in the
last decade.
 IndiGo's domestic capacity growth averaged 13.9% annually, compared to the overall market growth
of 0.7% per year.
 Both IndiGo and Air India are expanding internationally but will also use narrow-bodied aircraft to
increase domestic capacity. IndiGo has 982 planes on order, 96% of which are narrow-bodied, and Air
India has 447 aircraft on order, 74% of which are narrow-bodied.

Monthly BeePedia
June 2024
 Despite this growth, a major challenge is the number of airports in India, with only 119 airports offering
domestic flights compared to 250 in China and 656 in the US. Indigo projects domestic passengers will
double from 155 million in 2024 to 350 million in 2030.
The Wealth Migration Report 2024
 Henley & Partners and New World Wealth reviewed migration trends of the world’s wealthiest people in
2024, projecting 128,000 millionaires will migrate to new countries, with the UAE and USA being top
destinations.
 Migrating millionaires bring significant forex revenue, comparable to a country generating equivalent
export revenue.
 About 20% of migrating high-net-worth individuals are entrepreneurs, creating local jobs by starting
new businesses; this rises to over 60% for centi-millionaires and billionaires.
 Millionaires boost local stock markets through equity investments and public listings of their companies.
 High-net-worth individuals create thousands of well-paying jobs through their spending, especially in
luxury and high-value sectors like hotels, fine dining, retail, fashion, hi-tech, automotive, property,
wealth management, and family offices.
 Businesses started by millionaires have a positive spillover effect, creating numerous high-paying jobs, as
exemplified by companies like Microsoft, Apple, and Tesla.
 The migration of wealth and talent leads to economic benefits including forex revenue, business
creation, stock market boosts, and job creation.
SCIENCE AND TECHNOLOGY

Pushpak, ISRO’s reusable launch vehicle, clears test
 ISRO successfully completed the third reusable launch vehicle landing experiment (RLV LEX-03) at the
Aeronautical Test Range in Chitradurga, Karnataka.
 The experiment, conducted at 7:10 a.m., demonstrated the autonomous landing capability of the RLV
under challenging conditions.
 Pushpak, the winged vehicle, was released from an Indian Air Force Chinook helicopter at an altitude
of 4.5 km, executing precise maneuvers and landing autonomously.
 The vehicle, with a low lift-to-drag ratio, landed at a velocity exceeding 320 kmph, using a brake parachute
and landing gear brakes to decelerate.
 The mission simulated high-speed landing conditions for a vehicle returning from space, validating
advanced guidance algorithms for future orbital re-entry missions.
 LEX-03 reused the winged body and flight systems from LEX-02, showcasing ISRO's capability to design
and reuse flight systems.
 ISRO Chairman S. Somanath and Vikram Sarabhai Space Centre Director S. Unnikrishnan Nair praised
the team's efforts, emphasizing the boost in confidence for future missions.
Learn Along:
About ISRO
Headquarters: Bengaluru Chairman: Sreedhara Somanath Founded: 15 August 1969
Iberian Lynx
 The Iberian lynx (Lynx pardinus) has been reclassified from 'endangered' to 'vulnerable' on the IUCN
Red List.
 Since 2001, the population of mature Iberian lynxes has increased from 62 to 648 in 2022, with over 2,000
individuals currently across Spain and Portugal.
 The Iberian Lynx belongs to the family Felidae, known as one of the most dangerous feline species.
 Distribution is limited to southwestern Spain, specifically eastern Sierra Morena and the coastal plains
west of the lower Guadalquivir.

Monthly BeePedia
June 2024
 Protection status includes Appendix II of the IUCN Red List and CITES Appendix I.
 Major threats include poaching, road accidents, habitat loss, and climate change.
 The IUCN, established in 1948, is the global authority on the status of the natural world and the measures
needed to protect it.
Union Minister Dr. Jitendra Singh announced grant of 'Mini RATNA' status (Category-1) for Central
Electronics Limited (CEL)
 Union Minister Dr. Jitendra Singh announced the grant of "Mini RATNA" status (Category-1) for
Central Electronics Limited (CEL) at its Golden Jubilee celebration in Ghaziabad.
 Celebrating 50 years of CEL, the event was graced by the Vice President of India Jagdeep Dhankhar.
 CEL has shown remarkable improvement in financial stability, profitability, and operational excellence,
transforming from a loss-making PSU to a dividend-paying PSU for the third consecutive year.
 CEL achieved a net profit of approximately Rs 58 crore, reflecting its strong performance.
 New initiatives by CEL's management have strengthened Employee Engagement, leading to exceptional
performance and justifying the Mini RATNA status.
Two bio-geographic hotspots in India yield two new plant species
 Indian botanists discovered two new plant species in the Andaman and Nicobar islands and Arunachal
Pradesh.
 Dendrophthoe longensis, an aerial stem-parasitic flowering plant, was found on mango trees in the
Long Islands of the Andamans.
 Dendrophthoe longensis belongs to the Mistletoe family and is assessed as "Endangered" by IUCN
due to habitat destruction and anthropogenic activities.
 Petrocosmea arunachalense, a small herbaceous plant, was discovered in a cave in the Mandla region
of West Kameng, Arunachal Pradesh.
 Petrocosmea arunachalense is significant to the Gesneriaceae family and is characterized by its white
color with purple blotch and hairy texture.
 The discoveries highlight the rich biodiversity in these regions and are published in international botanical
journals.
A team led by scientist Lal Ji Singh, discovered aerial The species Dendrophthoe longensis is from the family
stem-parasitic flowering plant species Dendrophthoe Mistletoe.
longensis from the Long Islands of middle Andamans .

Monthly BeePedia
June 2024
A team led by scientist Krishna Chowlu discovered a The Petrocosmea arunachalense species is completely
new herbaceous plant species from Arunachal white with purple blotch and the plant has a hairy texture .
Pradesh.
BHEL bags Rs 13,300 crore order to set up 1600 MW-thermal power project
 BHEL won a Rs 13,300 crore order to set up a 1600 MW thermal power plant in Koderma, Jharkhand
from Damodar Valley Corporation (DVC).
 The EPC package for Koderma TPS (2X800MW) was finalized on June 26, 2024.
 This aligns with the central government's goal to ensure energy security.
 The investment will significantly impact the local economy and benefit people.
 DVC's installed thermal generation capacity will increase to 8140 MW by 2030.
Sakura Science Programme 2024
• 21 Indian school students were invited by the Japan Science and Technology Agency (JST) to
participate in the Sakura Programme 2024.
• The students were flagged off by Smt. Archana Sharma Awasthi, Joint Secretary, Department of School
Education & Literacy (DoSEL), Ministry of Education, Government of India, and Prof. Dinesh Prasad
Saklani, Director, NCERT.
• The ceremony took place at CIET-NCERT, organized by DoSEL.
• Mr. Kemmochi Yukio, Manager, JST, Japan; Dr. Amarendra Prasad Behera, Joint Director, CIET-NCERT;
and officials from DoSEL-MoE attended the event.
• The programme will be held from 16-22 June 2024.
• Indian students will join peers from other countries in this international event.
• These 21 students (6 boys and 15 girls) of the current batch are from Kasturba Gandhi Balika Vidyalayas
and Netaji Subhash Chandra Bose Residential Schools of 6 States (Chhattisgarh, Maharashtra,
Rajasthan, Tamil Nadu, Uttarakhand and Uttar Pradesh) and Kendriya Vidyalayas from across the country.
India's Ambitious Deep Sea Mission
• India is set to join an elite group of nations with the launch of its Deep Sea Mission, becoming the sixth
countryto undertake such an endeavor.
• Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, Earth
Sciences, PMO, Atomic Energy, Space, Personnel, Public Grievances, and Pensions, expressed pride in
the mission's progress.
• The announcement was made during a recent meeting in New Delhi.
• The mission aims to explore and harness deep-sea resources and boost India's capabilities in
marine technology.
• This initiative positions India at the forefront of global deep-sea exploration efforts.
Google Launches Gemini App in India

Monthly BeePedia
June 2024
• Google launched the Gemini app in India, supporting nine Indian languages and English.
• Users can interact with the app by typing, talking, or uploading an image.
• The app includes Gemini Advanced, providing access to Google's most capable AI models.
• Supported languages are Hindi, Bengali, Gujarati, Kannada, Malayalam, Marathi, Tamil, Telugu, and Urdu.
• The app aims to help users access information and complete tasks in their preferred language.
• Google announced the launch in a blog post, emphasizing the enhanced accessibility through AI.
Meril Launches Affordable Surgical Robotic Technology MISSO for Knee Replacements
• Company: Meril, a Gujarat-based medical devices company.

• Product: MISSO, an indigenously developed surgical robotic technology for knee replacement surgeries.
• Price Advantage: Priced at Rs 2 crore, MISSO is 66% cheaper than existing products from
multinationals.
• Market Strategy
• First-Year Sales Target: 100 robotic systems.
• Three-Year Sales Target: 1,000 robotic systems.
• Current Market Scenario
• Existing Systems: Approximately 200 robotic knee replacement systems are currently deployed in
hospitals across India.
UN declares2025 the Year of QuantumScience
 The United Nations has said 2025 will be designated the ‘International Year of Quantum Science
and Technology’.
 The initiative will be “year-long”, “worldwide”, and that it will “be observed through activities at all levels
aimed at increasing public awareness of the importance of quantum science and applications.”
 The proclamation is the result of a resolution led by Mexico in May 2023 and which was soon joined
by other countries.
 Next year will be a century since the German physicist Werner Heisenberg published a famous
paper in which he reinterpreted a series of tweaks — required for classical mechanics to make sense
of the quantum phenomena being discovered in the late 19th and early 20th centuries — to lay the
foundation stone of what would come to be called quantum mechanics. He was awarded the Nobel Prize
for physics seven years later, roughly around the time he devised his famous uncertainty principle.
 Quantum science and technologies have been featuring more often in public conversations and
issues of late thanks to quantum computers.
 The Government of India announced a ‘National Quantum Mission’ in April 2023 at a cost of Rs 6,000
crore, to be implemented from 2023 to 2031 by the Department of Science & Technology (DST).
IIT Kanpur, Centre of Excellence for UAVs, and DFI launch UDAAN
 IIT Kanpur and the Centre of Excellence for UAVs (Drone CoE Kanpur), in collaboration with the Drone
Federation of India (DFI), launched UDAAN, a drone startup acceleration initiative.
 UDAAN aims to support emerging drone ventures with state-of-the-art facilities, expert mentorship,
financial support, and tailored business development guidance.
 The programme will select 20 startups annually, divided into two cohorts, for intensive acceleration at
SIIC, IIT Kanpur, providing access to cutting-edge R&D facilities, technical mentorship, and financing
opportunities.
 Startups will receive strategic product and business development assistance, market analysis,
customer targeting, alliance building, and growth plan development.

Monthly BeePedia
June 2024
 Participants will have access to advanced testing facilities at the Drone CoE, including the Helicopter
and VTOL Laboratory, Flight Laboratory, and the National Wind Tunnel Facility.
 The programme includes investor-connect activities such as pitch sessions, demo days, and
networking opportunities with angel investors, venture capitalists, and industry leaders.
 The top six startups in each cohort will receive fellowship support of Rs 3 lakh per annum, providing
crucial financial backing for innovation and growth.
The 3rd Indian Analytical Congress (IAC) inaugurated at the Council of Scientific and Industrial
Research-Indian Institute of Petroleum (CSIR-IIP) Dehradun
 The 3rd Indian Analytical Congress (IAC) was inaugurated at CSIR-Indian Institute of Petroleum
(CSIR-IIP) in Dehradun, organized by CSIR-IIP and the Indian Society of Analytical Scientists (ISAS-Delhi
Chapter).
 The theme of the conference is "Role of Science and Technology in Green Transitions."
 CSIR's achievements in Energy and Energy Devices (EED) were showcased through the 'One Week
One Theme' (OWOT) program, focusing on conventional and renewable energy systems.
 The conference features five technical sessions with invited talks, presentations by researchers, and
plenary sessions, with over 250 delegates from PSUs and academic institutions participating.
ISRO and Wipro 3D partner for space exploration with 3D-printed rocket engine
 The Indian Space Research Organisation (ISRO) and Wipro 3D have collaborated to successfully
manufacture a 3D-printed rocket engine, the PS4, which will power the fourth stage of the Polar Satellite
Launch Vehicle (PSLV).
 This innovation represents a significant advancement in space manufacturing technology, marking
a shift towards additive manufacturing in space exploration.
 The PS4 engine is critical for the PSLV's capability to precisely place satellites into orbit, impacting
various missions including remote sensing, oceanography, and disaster management.
 Utilizing Design for Additive Manufacturing (DfAM) and Laser Powder Bed Fusion (LPBF) technology, the
engine was redesigned to consolidate multiple parts into a single unit, enhancing production
efficiency and structural integrity.
 The 3D-printed PS4 engine features integrated complex cooling channels and has undergone
rigorous testing at ISRO's Propulsion Complex in Mahendragiri, meeting all safety and performance
standards, thus reinforcing the potential of domestic innovation in supporting ISRO's 'Make in India'
initiative.
Learn Along:
About ISRO
Headquarters: Bengaluru Chairman: Sreedhara Somanath Founded: 15 August 1969
ISRO develops new PraVaHa software for aerodynamic design
 The Indian Space Research Organisation (ISRO) has developed a Computational Fluid Dynamics
(CFD) software called Parallel RANS Solver for Aerospace Vehicle Aero-thermo-dynamic Analysis
(PraVaHa).
 This software was created at ISRO's Vikram Sarabhai Space Centre (VSSC) and is designed to simulate
both external and internal flows on various aerospace vehicles, including launch vehicles and re-entry
vehicles.
 PraVaHa is crucial for conducting initial aerodynamic design studies for launch vehicles, allowing
for the evaluation of numerous configurations to optimize design.
 The software plays a key role in understanding the aerodynamic and aerothermal loads such as
external pressure and heat flux, which are critical during the launch or re-entry phases of aerospace
vehicles.

Monthly BeePedia
June 2024
 PraVaHa's capabilities include predicting serious flow issues and significant acoustic noise around rocket
bodies, crucial for designing the shape, structure, and Thermal Protection System (TPS) of these
vehicles.
 The software has been extensively used in the Gaganyaan program for aerodynamic analysis of
human-rated launch vehicles, including the HLVM3, Crew Escape System (CES), and Crew Module
(CM).
 PraVaHa currently simulates airflow under Perfect Gas & Real Gas conditions, with ongoing
validations for simulating chemical reactions during air dissociation upon earth re-entry and combustion in
scramjet vehicles.
Indian-French TRISHNA Satellite Targets Climate Change Impacts
 The Indian Space Research Organization (ISRO) and the French Space Agency (CNES) are
collaborating on a satellite mission called TRISHNA, focusing on improved environmental monitoring
due to global temperature rises.
 TRISHNA stands for Thermal Infra-Red Imaging Satellite for High-resolution Natural Resource
Assessment and is set to be launched in 2026 into a sun-synchronous orbit 761 km above Earth.
 The satellite’s primary objective is to monitor various environmental and climate factors, including
water stress on land, water quality changes in coastal and inland water bodies, and urban heat islands.
 Secondary goals include assessing temperature anomalies, glacier dynamics, snow-melt runoff, and
understanding geothermal resources and volcanic activity.
 TRISHNA will be equipped with a Thermal Infra-Red (TIR) sensor from CNES and a Visible, Near
Infra-Red, and Short Wave Infra-Red (VNIR-SWIR) sensor made by ISRO, enabling detailed mapping of
surface temperature and reflectance.
 The data from TRISHNA will support global projects like the Global Water Watch, UN Sustainable
Development Goals, and Group on Earth Observations Global Agricultural Monitoring (GEOGLAM).
 The mission’s findings will be crucial for global environmental management and agricultural
planning, serving as Essential Agricultural Variables (EAVs) and Essential Climate Variables (ECVs).
DEFENCE
IAF contingent arrives in US to participate in Red Flag 24 exercise
 The Indian Air Force (IAF) has deployed its advanced Rafale fighter aircraft to Eielson Air Force
Base, Alaska, to participate in the Red Flag 24-2 exercise, scheduled from May 30 to June 14, 2024.
 Red Flag 24-2 is a multinational military exercise involving 3100 personnel and over 100 aircraft from
four nations, emphasizing enhanced operational capability through simulated combat scenarios.
 The exercise is managed by the Pacific Air Forces (PACAF), part of the United States Indo-Pacific
Command (USINDOPACOM), and aims to improve tactical training initiated after observations from the
Vietnam War.
 The IAF's participation includes not just Rafale jets but also Il-78 mid-air refueling aircraft and C-17
Globemaster transport aircraft, marking the first training interaction between IAF Rafale and the USAF’s
F-35 stealth fighters.
 This training provides crucial experience for the IAF, especially in the context of potential engagements
with China’s J-20 stealth fighters, which have been active along the India-China border regions like
Ladakh.
 Training with the F-35s is vital as India currently lacks stealth aircraft, positioning the IAF to better
understand and strategize against advanced enemy fighters in potential future conflicts.
FLAG OFF CEREMONY OF SINDHU SHIKHAR CAR RALLY (10 – 27 JUN 24)

Monthly BeePedia
June 2024
 Sindhu Shikhar car rally from Delhi to Leh and back was flagged off by VAdm Sanjay Bhalla, the
Chief of Personnel, on 10 Jun 2024 from New Delhi.
 The main objective of the expedition is to spread awareness about India's rich maritime heritage and
maritime consciousness in the northern states.
 The expedition includes 40 naval personnel covering a distance of 3637 km over 18 days through
remote regions.
 This rally will serve as a major outreach activity by the Indian Navy, focusing on regions like Punjab,
Himachal Pradesh, J&K, and Ladakh.
 Interactions will be conducted in schools, colleges, and NCC units to spread awareness and motivate
youth to join the Indian Navy.
Anamika Rajeev is Navy’s first woman chopper pilot
 Sub-Lieutenant Anamika B. Rajeev became the Indian Navy’s first woman helicopter pilot.
 The milestone was celebrated during a passing-out parade at INS Rajali in Arakkonam, Tamil Nadu.
 A total of 21 officers were awarded the prestigious ‘Golden Wings’ by Vice-Admiral Rajesh
Pendharkar.
 The passing-out parade took place on June 7.
JAPAN INDIA MARITIME EXERCISE – 24 (JIMEX – 24) COMMENCED AT YOKOSUKA JAPAN
 INS Shivalik, an indigenous stealth frigate of the Indian Navy, arrived at Yokosuka, Japan for the bilateral
Japan–India Maritime Exercise 2024 (JIMEX 24).
 JIMEX 24 is the eighth edition of this exercise, which began in 2012.
 The exercise features both harbour and sea phases, with professional, sports, and social interactions,
followed by joint warfighting and interoperability operations.
 INS Shivalik represents the Indian Navy, while the Guided Missile Destroyer JS Yugiri represents the
Japan Maritime Self-Defense Force (JMSDF).
 JIMEX 24 has evolved in scope and complexity, enhancing operational interactions and fostering
mutual cooperation for maritime security in the Indo-Pacific region.
Indian Army Launches ‘Vidyut Rakshak’ Monitoring System
 The Vice Chief of the Indian Army, Lt. Gen. Upendra Dwivedi, officially launched Vidyut Rakshak, a
new Internet of Things (IoT)-enabled integrated generator tracking, protection, and control system.
 The system was created by the Army Design Bureau (ADB), which is a big step forward in the Indian
Army’s “Year of Tech Absorption.”
 At the opening event, the first production units of Vidyut Rakshak were put into service.
 Vidyut Rakshak wants to improve the performance of engines used by the Indian Army by adding
cutting-edge IoT technology to them.
 The Indian Army wants to use more technology-based solutions in its operations, and the creation
and introduction of Vidyut Rakshak are part of that plan.
 Both the Indian Army and the Foundation for Innovation and Technology Transfer (FITT) at IIT Delhi
worked together to make Vidyut Rakshak.
 There was a formal Memorandum of Understanding (MoU) signed at Aero India 2023 that made it
easier to make this new method.
Joint Doctrine for Cyberspace Operations

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June 2024
o Release Details: Chief of Defence Staff Gen Anil Chauhan released the Joint Doctrine for Cyberspace
Operations during the Chiefs of Staff Committee (COSC) meeting on June 18, 2024, in New Delhi.
o Purpose and Importance
 Guidance for Commanders: The Joint Doctrine is a keystone publication to guide Commanders in
conducting Cyberspace Operations in today's complex military environment.
 Jointness and Integration: Part of the Indian Armed Forces' efforts to enhance Jointness and Integration
across different domains of warfare.
o Cyberspace as a Warfare Domain
 Emerging Domain: Recognizes Cyberspace as a crucial and challenging domain alongside traditional
domains such as Land, Sea, and Air.
 Global Common: Unlike traditional domains with territorial limits, cyberspace is a global common with
shared sovereignty.
o Strategic Importance
 Impact on National Security: Hostile actions in cyberspace can affect the Nation’s economy, cohesion,
political decision making, and defensive capabilities.
 National Security Integration: Operations in cyberspace need to be integrated into the National Security
framework to influence events and create advantages in other operational environments and across all
instruments of power.
IAF Participation in Exercise Red Flag 2024
• Indian Air Force (IAF) participated in Exercise Red Flag 2024 at Eielson Air Force Base, Alaska,
USA, from 04 Jun to 14 Jun 2024.
• The exercise is an advanced aerial combat training event held four times a year by the US Air Force.
• Participating forces included the Republic of Singapore Air Force (RSAF), Royal Air Force (RAF),
Royal Netherlands Air Force (RNLAF), German Luftwaffe, and the US Air Force (USAF).
• The IAF contingent participated with Rafale aircraft and personnel including aircrew, technicians,
engineers, controllers, and subject matter experts.
• IL-78 Air to Air Refuellers (AAR) facilitated the transatlantic ferry of Rafale aircraft, and C-17
Globemasteraircraft transported personnel and equipment.
• Red Flag is an air combat exercise with scenarios providing realistic combat settings, including Beyond
Visual Range (BVR) combat exercises and Large Force Engagements (LFE).
INS SHIVALIK REACHES PEARL HARBOUR TO PARTICIPATE IN RIM OF THE PACIFIC EXERCISE
(RIMPAC) – 24
 INS Shivalik, an Indian multi-role stealth frigate, is participating in the Rim of the Pacific (RIMPAC)
exercise in Pearl Harbour, Hawaii, the world's largest naval exercise.
 The ship reached Pearl Harbour after completing JIMEX 24, a bilateral exercise between India and Japan.
 The harbour phase of RIMPAC-24 (June 27 - July 7, 2024) includes symposiums, exercise planning,
sports competitions, and reciprocal deck visits.
 The sea phase involves basic and advanced integration exercises, concluding with a large force tactical
exercise.
 RIMPAC-24 includes participation from an Aircraft Carrier Battle Group, submarines, maritime
reconnaissance aircraft, UAVs, and amphibious forces, involving special forces from 29 countries.
 The exercise aims to enhance interoperability and trust among friendly navies, ensuring the safety and
security of global sea lanes.
 INS Shivalik, a 6000-tonnes guided missile stealth frigate, demonstrates the Indian Navy's capability to
operate globally, 9000 Nautical Miles from the Indian coast.
INDIAN NAVY BIDS FAREWELL TO UH – 3H HELICOPTER

Monthly BeePedia
June 2024
 The Indian Navy de-inducted the UH-3H helicopter after 17 years of service at a ceremony at INS Dega,
Visakhapatnam, on 28 Jun 24, presided by Vice Admiral Sameer Saxena.
 The UH-3H will be replaced by the Sea King 42C helicopter at INAS 350 to continue delivering
operational capabilities.
 The UH-3H introduced innovative capabilities in Special Operations and Search and Rescue (SAR)
missions, significantly contributing to Humanitarian Assistance and Disaster Relief (HADR) and
security operations.
 Inducted in 2009, the UH-3H played a crucial role in offshore security and natural disaster relief,
embodying the squadron motto "Strength, Valour, and Perseverance."
 One UH-3H will be permanently displayed in Visakhapatnam, symbolizing its legacy and inspiring future
generations.
 A commemorative plaque was handed over to the State Government, received by Shri K. Mayur
Ashok, IAS, marking the helicopter's transfer.
Govt successfully conducts test flight of expendable aerial target 'Abhyas'
 India successfully conducted flight-tests of the indigenously developed high-speed expendable aerial
target Abhyas off the Odisha coast.
 Abhyas, developed by DRDO, is used for testing missile systems.
 DRDO completed six consecutive developmental trials of Abhyas with improved booster configuration.
 The successful tests pave the way for production of Abhyas systems.
 Abhyas has now completed 10 developmental trials, demonstrating system reliability.
 Trials featured improved radar cross section, visual, and infrared augmentation systems.
DRDO hands over Medium Range-Microwave Obscurant Chaff Rocket to Indian Navy
 DRDO handed over the Medium Range-Microwave Obscurant Chaff Rocket (MR-MOCR) to the Indian
Navy on June 26, 2024.
 Microwave Obscurant Chaff (MOC), developed by DRDO’s Defence Laboratory, Jodhpur, creates a
microwave shield around platforms, reducing radar detection.
 The MR-MOCR uses special fibres to form a microwave obscurant cloud, providing an effective shield
against hostile threats with Radio Frequency seekers.
 Successful Phase-I and Phase-II trials demonstrated the MOC cloud's effectiveness and a 90% Radar
Cross Section (RCS) reduction.
Learn Along:
About DRDO
Formed: 1958 Chairman: Dr Samir V Kamat Headquarters: New Delhi
IAF to acquire 6 Tapas drones, lead acquisition for Made-in-India UAVs
 The Indian Air Force (IAF) proposed to the central government to buy 10 Tapas drones to enhance
indigenous unmanned surveillance capabilities.
 Of these, six drones are for the IAF and four for the Indian Navy.
 IAF will lead the induction and acquisition of Tapas drones, with the proposal expected to be discussed
by the Defence Ministry soon.
 Tapas drones are medium-altitude, long-endurance drones developed by DRDO and manufactured by a
consortium of Bharat Electronics Limited and Hindustan Aeronautics Limited.
 Limited inductions will help refine and upgrade the Tapas drones to meet future requirements.
 IAF's existing fleet includes Israeli-origin Searcher, Heron Mark-1 and Mark-2 drones, and plans to
induct American Predator MQ-9B drones.
 The Indian Navy will use Tapas drones for maritime surveillance, with the first delivery expected within
24 months of signing the contract.

Monthly BeePedia
June 2024
Ladakh: Indian Army Opened Khalubar War Memorial To Tourists
 Indian Army opened the Khalubar War Memorial in Ladakh to tourists, honoring Kargil War heroes as
part of the 25th anniversary Pre-Kargil Vijay Diwas celebrations.
 The memorial, located in the Aryan Valley, commemorates the bravery and sacrifices of soldiers who
reclaimed the valley during the Kargil War.
 Khalubar Valley was a key battleground where Indian soldiers, including Captain Manoj Pandey,
recaptured it from enemy forces.
 The local community played a pivotal role in the battle, highlighting the valley’s historical and cultural
significance.
 The celebrations included a ‘Trek to Battle Site’ led by Brig OP Yadav, YSM (Retd).
 The Khalubar War Memorial serves as a tribute to the soldiers' heroism and the local community's
support during the war.
 Kargil Vijay Diwas will be celebrated on 26 July.
EVENTS
‘India Africa Postal Leaders Meet’ being held in India
 The ‘India Africa Postal Leaders Meet’ was held in India from 21st to 25th June 2024, aiming to
strengthen relationships in the postal sector between African countries and India under the “South-South
and Triangular Cooperation” programme of the Universal Postal Union.
 This meet aligns with India’s initiatives like the ‘Voice of Global South Summit’, the India-Africa forum,
and the inclusion of the African Union in the G20 during India’s Presidency in 2023. Delegates from 22
African countries attended.
 The key theme was capacity building through study visits showcasing India’s successful model of service
delivery via its extensive post office network, combining digital services with traditional postal delivery.
 Discussions focused on addressing challenges in sustainable development and financial inclusion in
developing countries, highlighting the importance of collaboration among postal administrations.
 India Post demonstrated various services, including e-commerce parcels, Dak Niryat Kendras, postal
financial services, Aadhaar enabled services, passport services, Digital Life Certificate, and the
transformative role of Unified Payments Interface (UPI).
India is hosting 64th ISO Council Meeting from 25th-27th June 2024
 India is hosting the ISO Council Meeting in New Delhi from 25th to 27th June 2024, with delegates from
over 30 countries discussing critical issues in the sugar and biofuel sectors.
 As the world’s largest consumer and second-largest producer of sugar, India was nominated as the Chair
of ISO for 2024.
 The event includes an industrial tour on 24th June to a grain-based distillery in Muzaffarnagar,
showcasing India's latest biofuel production technology.
 A workshop titled ‘Sugar and Biofuels – Emerging Vistas’ will be inaugurated by Union Minister Shri
Pralhad Joshi on 25th June, featuring international delegates, Indian sugar mill leaders, and technical
experts.
 The workshop aims to strengthen the Global Biofuel Alliance, an initiative by Prime Minister Narender
Modi, promoting sustainable biofuels to reduce greenhouse gas emissions.
 The International Sugar Organisation (ISO), a UN-affiliated body headquartered in London with 85
member countries, focuses on mutual understanding and progressive approaches in the sugar sector and
biofuels, especially ethanol.
 The event includes cultural programs, ISO Committee meetings on 26th and 27th June, and concludes
with a guided tour to the Red Fort and a visit to the Prime Ministers’ Museum and Library.

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June 2024
INDUS-X defence initiative between US, India marks 1st anniversary
 The India-US Defence Acceleration Ecosystem advanced their commitment to building a defence
innovation bridge under the Critical and Emerging Technology Initiative (iCET).
 INDUS-X, launched on June 21 last year during Prime Minister Narendra Modi's state visit to
Washington, DC, strengthens the strategic and defence partnership.
 The iCET was initiated by Prime Minister Modi and US President Joe Biden during the QUAD summit
in Tokyo on May 24, 2022.
 INDUS-X has facilitated private sector cooperation between India and the US, fostering partnerships
among defence tech companies, investors, and researchers.
 The third INDUS-X Summit will take place in Silicon Valley in September 2024, focusing on harnessing
private capital for defence innovation.
 Key defence pacts include LEMOA (2016), COMCASA (2018), and BECA (2020), enhancing
interoperability, high-end technology sales, and geospatial data sharing.
 India-US defence ties have significantly strengthened, with ongoing collaboration and agreements
bolstering bilateral security.
JP Nadda Launches National STOP Diarrhoea Campaign 2024
 Union Health Minister Jagat Prakash Nadda launched the National STOP Diarrhoea Campaign 2024
in New Delhi.
 The campaign, from July 1 to August 31, aims for zero child deaths due to diarrhoea by distributing
ORS and zinc tablets to children.
 The new strategy extends the campaign duration to two months, involving multi-sector collaboration
including health, water and sanitation, education, and rural development.
 Emphasis on sensitizing health workers and capacity-building efforts to strengthen diarrhoea
management.
 The campaign's goal is to achieve zero child deaths from childhood diarrhoea through extended efforts
and comprehensive strategies.
First International Dairy Federation Asia-Pacific summit in Kochi from June 26 to 28
 The first IDF Regional Dairy Conference Asia Pacific-2024 is being held in Kochi from June 26 to 28,
organized by the Union Ministry of Fisheries, Animal Husbandry and Dairying, NDDB, and IDF.
 Union Minister Rajiv Ranjan Singh will deliver his address virtually, with key participants including J.
Chinchurani, Ashish Kumar Bhutani, Alka Upadhyaya, and Meenesh Shah.
 The conference is hosted at Grand Hyatt, Bolgatty and themed ‘Farmer-centric innovations in
dairying’.
 The event aims to address key issues in the dairy sector, with sessions focusing on productivity, milk
aggregation transparency, and sustainable practices.
 Topics will include climate challenges and One Health principles, featuring global and regional
perspectives.
 Over 1,000 delegates from more than 20 countries will participate in the three-day event.
PM Narendra Modi to skip SCO summit; EAM S. Jaishankar will represent India
 External Affairs Minister S. Jaishankar will represent India at the SCO summit in Astana on July 3-4,
as Prime Minister Narendra Modi will skip it.
 PM Modi is set to visit Russia from July 8-9, his first trip there in nearly five years, followed by a visit to
Austria on July 9-10.
 The SCO summit will focus on regional security, connectivity, and trade, with discussions on
Afghanistan, the Ukraine conflict, and security cooperation.

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June 2024
 India's delegation will be led by S. Jaishankar, with the SCO comprising India, China, Russia, Pakistan,
Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.
 India became a full member of the SCO in 2017 and has a keen interest in deepening security cooperation
with the SCO and its Regional Anti-Terrorism Structure (RATS).
 Kazakhstan is hosting the summit as the current chair, with India having chaired the SCO last year and
hosting a virtual summit.
Hunar Indian Folk And Tribal Art Exhibition Opens In Dubai
 The Dubai Art Centre is hosting the “Hunar” exhibition, showcasing Indian folk and tribal art.
 The exhibition highlights India's rich cultural heritage through various art forms.
 Featured styles include Aipan art from Uttarakhand, Madhubani art from Bihar, and Warli art from
Maharashtra.
 Murals from Kerala and Muria art of Chhattisgarh are also on display.
 "Hunar" offers a unique opportunity for art enthusiasts to experience the cultural richness and artistic
heritage of India.
 The exhibition allows visitors in Dubai to immerse themselves in the diverse world of Indian art.
18th Mumbai International Film Festival (MIFF) 2024
• 77 Films are competing in the National Competition at the MIFF 2024, chosen from a record 840
submissions.
• The competition features films made in India by Indian citizens between 1st January 2022 and 31st
December 2023.
• The festival, held from 15th to 21st June 2024, includes:
• 30 documentaries in the National Documentary Competition.
• 41 short fiction and animation films in the National Competition: Short Fiction & Animation.
• 6 films focusing on 'India in Amrit Kaal' in the National Competition: India in Amrit Kaal.
• 30 debutant directors and 12 student filmmakers are among the contestants.
• Awards include the coveted Silver Conch for the best films in Documentary, Short Film, and
Animationcategories.
• A special award will be given for a short film on 'India in Amrit Kaal’.
Inauguration of the First Ever Documentary Film Bazaar at MIFF 2024
• The Documentary Film Bazaar was inaugurated at the 18th Mumbai International Film Festival
(MIFF).
• This initiative aims to elevate the documentary film industry by offering a platform for filmmakers to connect
with buyers, sponsors, and collaborators.
• The event, held from 16 to 18 June 2024 at the NFDC complex, reinforces MIFF's status as the premier
platform for non-feature films in South Asia.
• The Documentary Film Bazaar has attracted close to 200 projects from 10 countries, representing 27
languages.
• This pioneering initiative marks a significant milestone for MIFF.
NHAI's Miyawaki Plantation Initiative
o Vision and Initiative: To saturate National Highways with green cover, NHAI will plant Miyawaki
plantationson land parcels adjacent to highways in various locations.
o Land Area: Over 53 acres identified in and around Delhi-NCR for Miyawaki plantations.
o Proposed Sites for Miyawaki Plantations
 Dwarka Expressway (Haryana section): 4.7 acres
 Delhi-Vadodara section of Delhi-Mumbai Expressway (near Sohna): 4.1 acres

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June 2024
 Ambala-Kotputli corridor (NH 152D): Around 5 acres each at Chabri and Kharkhara interchanges
 Shamli bypass (NH-709B): Over 12 acres
 Eastern Peripheral Expressway (near Ghaziabad): 9.2 acres at Duhai interchange
 Meerut-Najibabad section (NH-34, Uttar Pradesh): 5.6 acres
o Implementation Details
 Ground Preparation: Started at selected sites, with plantation to begin during the monsoon season, aiming
for completion by end of August 2024.
Learn Along: About Miyawaki Method
 Overview: A unique Japanese approach to ecological restoration and afforestation, creating dense, native, and
biodiverse forests quickly.
 Benefits:
o Groundwater Retention: Helps recharge groundwater table.
o Growth Rate: Trees grow ten times faster.
o Environmental Impact: Acts as a sound and dust barrier.
 Plantation Focus: Indigenous species suited to local climate and soil conditions.
National Conclave on Sickle Cell Disease (SCD) on World Sickle Cell Day
o Purpose: To create awareness and halt the inter-generational transmission of Sickle Cell Disease (SCD).
o Organizers
 Ministry of Tribal Affairs (MoTA)
 Birsa Munda Centre, AIIMS Delhi (knowledge partner)
o Event Details
 Occasion: World Sickle Cell Day
 Location: New Delhi
o Key Attendees
 Chief Guest: Union Tribal Affairs Minister Shri Jual Oram
 Guest of Honour: Minister of State for Tribal Affairs Shri D.D. Uikey
‘Billy And Molly: An Otter Love Story’ To Kick Off Screenings At 18th MIFF
 National Geographic’s documentary, ‘Billy and Molly: An Otter Love Story’, to open the 18th Mumbai
International Film Festival (MIFF) on 15th June.
 MIFF scheduled from 15th to 21st June in Mumbai, with opening film screened simultaneously in Delhi,
Kolkata, Chennai, and Pune.
 The film will also be screened during Red Carpet events in Delhi (17th June), Chennai (18th June),
Kolkata (19th June), and Pune (20th June).
 Directed by Charlie Hamilton James, the 78-minute English film explores the friendship between a man
and a wild otter named Molly in the remote Shetland Islands.
 'Billy and Molly' showcases the profound bond between human beings and nature, emphasizing love's
boundless depths.
 The film's inclusion in MIFF highlights its significance in portraying unique relationships and
connections with the natural world, aligning with themes of conservation and environmental awareness.
Bonn Climate Conference Focuses on Finance Goals
 The Bonn Climate Change Conference (60th Session of the UNFCCC Subsidiary Bodies) started on
June 3, 2024, crucial for preparations for the 29th Conference of Parties (COP 29) in Baku, Azerbaijan,
focusing on a new climate finance goal.
 The conference highlighted differences between developed and developing countries regarding
NCQG’s financial standards.

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June 2024
 The European Union advocated for diverse funding, while the G77 and China called for a substantial,
needs-based goal funded primarily by developed countries' public funds.
 Discussions at the 10th Technical Expert Dialogue (TED 10) built on previous talks, focusing on NCQG’s
goals, transparency, and organization.
 Developing countries sought flexible financing and clear accounting, whereas developed countries
preferred a multi-layered financial system.
 The concept of “additionality” was questioned, with scrutiny on past financial commitments to ensure
they were genuine new resources, not repurposed aid.
 The Enhanced Transparency Framework (ETF) under Article 13 of the Paris Agreement was
discussed, emphasizing clear reporting on financial, technical, and capacity-building support to ensure
accountability.
 The ETF requires mandatory reporting for developed countries on their assistance, while developing
countries have less stringent recommended reporting requirements, highlighting the need for consistent
definitions of “climate journalism” to avoid confusion.
AWARDS AND REWARDS
Award/Honor Recipient Description Additional Details

Executive Vice-Chairman of
EY World Fourth Indian to win, awarded EY
Vellayan TII and Chairman of
Entrepreneur Of Entrepreneur of the Year for India in
Subbiah Cholamandalam Investment
The Year 2024 2023
and Finance Co Ltd
Poet and playwright,
19th recipient, award includes
Gudleppa Hallikeri Siddhalinga recognized for contributions
₹25,000 and a memento, ceremony
Award 2024 Pattanashetti to literature, society, or
on June 6
social service
Naik Posthumous award for Indian peacekeeper served in
Dag Hammarskjöld
Dhananjay service and sacrifice in UN MONUSCO, awarded annually on
Medal
Kumar Singh Peacekeeping May 29
Nelson Mandela Recognized for significant Award coincides with NIMHANS’
NIMHANS,
Award for Health contributions to health 50th anniversary and 70th
Bengaluru
Promotion promotion by WHO anniversary of its precursor
Recognized for “Mobile-
WSIS 2024 PRIZE Enabled Disaster Resilience Awarded at WSIS+20 Forum 2024
C-DOT
“Champion” Award through Cell Broadcast by ITU in Geneva
emergency Alerting”
Head of Mumbai Police’s
Recognized for blending law
Hindi Sahitya Krishna Force One, honored at Sab
enforcement with literature and
Bharati Award Prakash Me Ram Shashwat Shri
cultural heritage
Ram festival
Won Riyad Wadia Award for best
Special Jury
Abu Sohel Director of short film emerging Indian filmmaker, received
Mention at
Khondekar Mehroon KASHISH QDrishti Film Grant in
KASHISH Film Fest
2023
Recognized by The Asian
Best Conduct of Award accepted by Whole Time
Banker for enhancing
Business Regulator SEBI Member Kamlesh Chandra
India's securities market
Award Varshney in Hong Kong
regulatory framework
Guinness World Largest first aid lesson at Attended by over 4,300 delivery
Record for largest Zomato Nesco, Goregaon in agents, part of Zomato's first
first aid lesson Mumbai responders training programme

Monthly BeePedia
June 2024

V. Shantaram Lifetime Award to be conferred at the 18th
Shri Subbiah Renowned wildlife
Achievement Award Mumbai International Film Festival
Nallamuthu filmmaker
2024 (MIFF)
Kabak Yano,
Event on June 19, 2024, in Dirang,
Tagit Sorang
Arunachal Pradesh; organized by
Abraham, Tashi Recognition for
NIMAS Felicitates NIMAS, honored by Director Col.
Yangjom, Mount Everest
Distinguished Alumni Ranveer Singh Jamwal, attended by 120
Tongchen summits
students from Basic Mountaineering
Nimsonga, Dorjee
Course Ser No- 48
Khandu
Recognized for
fostering robust
Risk Manager of the Reserve Bank of risk culture and Awarded by Central Banking, a London-
Year Award 2024 India (RBI) maintaining based publication
financial system
stability
Significant
Karnataka Vikas
National Award for enrolment under Honored by Pension Fund Regulatory
Grameena Bank
APY Implementation the Atal Pension and Development Authority (PFRDA)
(KVGB)
Yojana (APY)

Presented at Hindi Samvad event
12th Vishwa Hindi For contributions to
Dr. Usha Thakur in Nepal, translated over 40
Samman Hindi literature
literatures in Hindi and Nepali
Commonwealth Short For the short story Won GBP 5,000, story reimagines
Sanjana Thakur
Story Prize 2024 ‘Aishwarya Rai’ adoption, published in ‘Granta’
For unflinching
Ceremony on October 10, co-
writings on social
Pen Pinter Prize 2024 Arundhati Roy hosted by British Library, shared
justice and human
with a Writer of Courage
rights
Garden Reach
For commitment to Awarded at Outlook Planet
Sustainable Governance Shipbuilders &
sustainable business Sustainability Summit & Awards
Champion Award 2024 Engineers
practices 2024
(GRSE)
Awarded by World Crafts Council,
Recognized for
boosts Kashmir’s traditional
World Craft City Tag Srinagar artisan skill base
connections with Central Asia and
and craft heritage
Iran
PSU Leadership Award for
THDC India For leadership in Award presented by Dr. Jitendra
Digital Transformation
Limited (THDCIL) digital transformation Singh, Union Minister
Excellence
For outstanding 23 writers for Yuva Puraskar, 24
Yuva Puraskar and Bal
Various writers contributions to for Bal Sahitya Puraskar, each
Sahitya Puraskar 2024
literature receives ₹50,000 and a plaque
For contributions to
V. Shantaram Lifetime Subbiah Conferred at the 18th Mumbai
wildlife documentary
Achievement Award 2024 Nallamuthu International Film Festival,
filmmaking

Monthly BeePedia
June 2024

includes citation, trophy, and ₹10
lakh
For research in
Each field shares $1 million prize,
Various astrophysics,
Kavli Prize 2024 awarded by the Norwegian
scientists nanoscience, and
Academy of Science and Letters
neuroscience
APPOINTMENTS
Organization Name News Learn Along
World Health Indian badminton star PV Sindhu has been appointed as the Headquarters: Geneva,
Organization brand ambassador for tobacco control by the World
Switzerland
Health Organization (WHO).
Founded: 7 April 1948
Director-General:
Tedros Adhanom
Ghebreyesus
ICICI Prudential Life The Insurance Regulatory and Development Authority of ---
Insurance Company India (IRDAI) has granted approval for the appointment of
Sandeep Batra as the Chairman of the Board of Directors
of ICICI Prudential Life Insurance Company. The
company announced this development on Thursday.
World Organisation During its 91st General Session, the World Organisation for Headquarters: Paris,
for Animal Health Animal Health elects its new Director General, Dr
France
Emmanuelle Soubeyran, for a 5-year mandate (2024-
Founded: 1924
2029).
Mexico Claudia Sheinbaum has been elected as Mexico's first Capital: Mexico City
woman president, securing a historic landslide victory with
approximately 58% to 60% of the vote, a significant lead over
her main rival, Xóchitl Gálvez.
India Senior diplomat Ruchira Kamboj, who made history after ---
becoming the first woman to become the Indian
Ambassador to the United Nations, retired on 1 June,
after an illustrious career spanning nearly four decades.
Indian Institute of Rakesh Mohan Joshi, an international trade and ---
Foreign Trade (IIFT) management expert, has been appointed as the Vice-
Chancellor of the Indian Institute of Foreign Trade (IIFT),
a prestigious business school under the Ministry of
Commerce.
Deendayal Port Trust In a significant move, the Centre has appointed Sushil ---
in Kandla Kumar Singh, an officer from the Indian Railway Service of
Mechanical Engineering (IRSME) of the 1993 batch, as the
Chairman of Deendayal Port Trust in Kandla, Gujarat.
One of the largest state-owned ports in the country,

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June 2024
Deendayal Port Trust will be under Singh’s leadership until

his superannuation in January 2027.
Kuwait Kuwait's emir named Sheikh Sabah Khaled al-Hamad al- Capital: Kuwait City
Sabah as the new crown prince.
The emir had taken over the throne just six months ago and
recently suspended parliament.
Employees’ State Kamal Kishore Soan, a senior IAS officer from Jharkhand ---
Insurance Cadre (Batch : 1998) currently serving as an Additional
Corporation Secretary and Director General, Labour Welfare in the Ministry
of Labour & Employment, took over the additional charge of
Director General of Employees’ State Insurance
Corporation (ESIC) under Ministry of Labour & Employment,
on 31.05.2024.
PNB MetLife PNB MetLife India Insurance has announced Sameer ---
Bansal as its new Managing Director and Chief Executive
Officer, effective from July 1, 2024. He will succeed Ashish
Srivastava, who is transitioning to MD for MetLife Inc.’s
Global Shared Services team in India.
Bisleri International Bisleri International, the pioneering force in India’s ---
carbonated soft drinks industry has Featured Aditya Roy
Kapur as the brand ambassador.
Indian Army Lt. Gen. Upendra Dwivedi has been appointed as the next ---
Chief of the Army Staff, taking over from General Manoj
Pande on June 30, 2024.
He is currently the Vice-Chief of the Army Staff.
General Manoj Pande was given a month’s extension beyond
his original retirement date of May 31, 2024.
Ministry of Rural Raj Priy Singh, an Indian Forest Service (IFoS) officer of the ---
Development 2010 batch, has been appointed as the Director in the
Department of Rural Development under the Ministry of
Rural Development. His appointment follows a
recommendation for Central deputation by the Ministry of
Environment, Forest & Climate Change and is governed by
the Central Staffing Scheme (CSS).
Cellular Operators' The Cellular Operators' Association of India (COAI), the ---
Association of India leading industry body for telecom, Internet, technology and
digital services companies, announced its new leadership, for
the 2024-25 term, effective from June 2024. Abhijit Kishore,
Chief Operating Officer (COO) of Vodafone Idea (VI), has been
appointed as the Chairman of COAI while Rahul Vatts, Chief
Regulatory Officer (CRO) of Bharti Airtel, will serve as the Vice
Chairman of COAI.
PMO P.K. Mishra was reappointed as Principal Secretary to the ---

Prime Minister for a second term.

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June 2024
Ajit Doval was retained as National Security Adviser (NSA)

for a rare third term.
Amit Khare and Tarun Kapoor were reappointed as advisers
for a tenure of two years each.
The Appointments Committee of the Cabinet (ACC), headed
by the PM, approved these appointments.
SBICAP Ventures SBICAP Ventures Limited (SVL) has named Prem ---
Limited Prabhakar as its new Managing Director and Chief
Executive Officer, effective from June 4, 2024. With over 24
years of extensive banking experience, Prabhakar joins SVL
from State Bank of India (SBI), where he held various senior
roles including General Manager and Chief Dealer.
Ministry of Steel Bhupathi Raju Srinivasa Varma assumed charge as ---
Union Minister of State in the Ministry of Steel.
Dhanlaxmi Bank Dhanlaxmi Bank has appointed Ajith Kumar KK as the
Managing Director (MD) and CEO.
Effective Date: Ajith Kumar KK will take charge on June
20, 2024.
New India Assurance Girija Subramanian appointed as CMD of New India
Assurance effective June 19, 2024.
Lok Sabha. Bhartruhari Mahtab, a seven-term Lok Sabha
member, was appointed pro-tem Speaker of the Lok
Sabha.
Bharat Electronics Bharat Electronics Limited (BEL), a leading Indian HQ- Bengaluru
Limited
defense electronics company, has announced a
significant change in its top leadership.
Manoj Jain has been appointed as the new Chairman
and Managing Director of the company.
National Testing The Director General of the National Testing Agency, ---
Agency Subodh Kumar Singh, was removed from the post on June
22, amid controversy over irregularities in exams. Subodh
Kumar Singh’s services were put on a “compulsory wait” in
Department of Personnel and Training, the government said
in a letter. India Trade Promotion Organisation Chairman
and MD Pradeep Singh Kharola was assigned additional
charge of NTA DG till appointment of a regular incumbent or
until further orders.
Intelligence Bureau The Appointments Committee of the Cabinet (ACC) Headquarters:New
approved a year’s extension in service to Tapan Kumar Delhi,
Deka, Director, Intelligence Bureau .
Rajya Sabha Bharatiya Janata Party (BJP) president and Union Minister ---
J.P. Nadda has been named Leader of the House in the
Rajya Sabha.

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June 2024
Sa-Dhan Paul Thomas, MD & CEO of ESAF Small Finance Bank, has ---
been elected as Chairperson of the board of Sa-Dhan,
which is an association of microfinance and impact finance
institutions. Thomas so far was the co-chair of the
Association.
National Human Bharat Lal, a retired Indian Forest Service officer from the ---
Rights Commission Gujarat cadre, received an extension of one year as
Secretary-General of the National Human Rights
Commission. His term was to draw to an end on June 30.
Indian Army Lt Gen NS Raja Subramani is set to be the next Vice Chief ---
of Army Staff. The officer, who is presently helming the
Army’s Central Command, will succeed Lt Gen Upendra
Dwivedi.
NATO NATO’s 32 nations appointed outgoing Dutch Prime Minister Founded:
Mark Rutte as the alliance’s next head, handing him the 4 April 1949
job at a crucial moment with Russia on the march in Ukraine
and U.S. elections looming.
Mr. Rutte will take over from Secretary General Jens
Stoltenberg on October 1 after major powers —
spearheaded by the United States — wrapped up his
nomination ahead of a summit of NATO leaders in
Washington.
India Bullion The India Bullion Jewellers Association (IBJA) has
Jewellers
Association appointed Mrs. Aksha Mohit Kamboj as its Vice President,
effective 22/06/2024. Mrs. Kamboj brings with her a wealth
of experience and expertise in the field of bullion and
jewellery, and her appointment is poised to further strengthen
IBJA’s leadership in the industry.
Foreign Secretary Deputy National Security Adviser Vikram Misri will take ---
charge as the Foreign Secretary on July 15. Mr. Misri, a
former Ambassador to China, will succeed current Foreign
Secretary Vinay Mohan Kwatra.
Mr. Misri, known for being a specialist in India-China
relations, is expected to bring a special focus on the ongoing
tension between New Delhi and Beijing.
Central Board of The Centre appointed Ravi Agrawal as the new chairman ---
Direct Taxes of the Central Board of Direct Taxes (CBDT), the top
policy-making body of the Income Tax Department. He has
been appointed as the Chairman from July 1 till
superannuation on September 30 and subsequently on
contract basis till June 30, 2025.
IMPORTANT DAYS

Monthly BeePedia
June 2024
Day/Week Observance Significance

1 June World Milk Day World Milk Day is celebrated every year on June 1. This day
is celebrated to bring the importance of milk as a global
food to the forefront and to promote dairy farming and the
dairy industry. World Milk Day, established by the Food and
Agriculture Organization (FAO) of the United Nations, has
been observed across the world since its inception in 2001.
The theme of World Milk Day 2024 is focusing on “celebrating
the vital role dairy plays in delivering quality nutrition to
nourish the world.”
June 2 Telangana Formation Day June 2 is Telangana Formation Day and this year marks a
decade since India’s youngest state was carved out of
Andhra Pradesh. Under the Congress-led UPA government,
the Andhra Pradesh Reorganisation Act of 2014 was
passed for a separate Telangana state, the demand for which
had been raised for decades.
June 3 World Bicycle Day World Bicycle Day was first marked on June 3, 2018, following
a resolution adopted by the United Nations General Assembly
on April 12, 2018, during its 72nd Regular Session. The
resolution was supported by all 193 member states,
encouraging the inclusion of bicycles in regional,
subnational and international development programs and
policies.
4 June International Day of Innocent International Day of Innocent Children Victims of
Children Victims of Aggression is celebrated on June 4 each year in a bid to lay
Aggression emphasis on the rights of children and protect children around
the world from incidents of violence, sexual abuse and terror.
June 5 World Environment Day On June 5 each year, World Environment Day (WED) is
celebrated. The United Nations Environment Program
(UNEP) founded the WED in 1972.
Environment Day is one of the greatest global events for the
environment. This day acts as a platform to bring issues to
light about the ecological issues faced by our planet.
Theme 2024: "Land Restoration, Desertification, and Drought
Resilience."
12 June World Day Against Child On June 12, the World Day Against Child Labour is observed.
Labour Its objective is to spark the growing global movement against
child labour.
Theme 2024: "Let’s act on our commitments: End Child
Labour"
17th June World Day to Combat World Day to Combat Desertification and Drought is
Desertification and Drought celebrated globally on June 17th.

Monthly BeePedia
June 2024
The day aims to raise awareness about the pressing issue

of land degradation and its devastating effects on the
environment and communities worldwide.
This year’s theme is “United for Land. Our Legacy. Our
Future.”
21st June World Hydrography Day Every year on June 21st, the world celebrates World
Hydrography Day.
It, organized by the International Hydrographic
Organisation (IHO), aims to raise awareness about
hydrography and its crucial role in understanding our seas
and oceans.
The theme for World Hydrography Day 2024 is:
“Hydrographic Information – Enhancing Safety, Efficiency
and Sustainability in Marine Activities”

Monthly BeePedia
June 2024
23 June International Olympic Every year on June 23, the world celebrates International Olympic
Day Day, a commemoration of the modern Olympic Games and an
opportunity to promote the values of sports across the globe.
This day holds significant importance not just for athletes and sports
enthusiasts, but for everyone who appreciates the spirit of
competition, unity, and athleticism.
26th June International Day Each year, 26th June is observed as the "International Day against
against Drug Abuse &
Illicit Trafficking Drug Abuse & Illicit Trafficking.”
Theme 2024: “The evidence is clear: invest in prevention”
29 June Statistics Day  In recognition of the notable contributions made by Professor (late)
Prasanta Chandra Mahalanobis in the fields of statistics and
economic planning, Government of India has designated June 29
every year, coinciding with his birth anniversary, as “Statistics
Day” in the category of Special Days to be celebrated at the
national level.
 The main objective of celebrating Statistics Day is creation of public
awareness, especially among the younger generation, on the role
and importance of statistics in socio-economic planning and policy
formulation for development of the country.
OBITUARIES
Name of Person Field Points to Remember
Cherukuri Ramoji Businessman Media baron Cherukuri Ramoji Rao, head of Ramoji Film
Rao City and ETV Network, died in Telangana’s Hyderabad.
Asir Jawahar Dcientist and An important Indian wildlife scientist and environmentalist
Thomas Environmentalist named Asir Jawahar Thomas Johnsingh died in Bengaluru
Johnsingh on June 7, 2024. He was 78 years old.
Pandit Rajeev Sarod maestro Sarod maestro Pandit Rajeev Taranath, 92, passed away.
Taranath Pandit Taranath was honoured with Padma Shri in 2019
and the Sangeet Natak Akademi award in 2000. In
Karnataka, he was bestowed with the Rajyotsava Award in
1996, Chowdaiah Memorial Award in 1998, Sangeet
Vidwan Award in 2018, and the Nadoja Award in 2019.
Amol Kale Sports Mumbai Cricket Association president Amol Kale has
passed away due to cardiac arrest in New York.
Donald Actor Donald Sutherland, Emmy and Golden Globe-winning
Sutherland actor, passed away at the age of 88.
Known for his roles in films such as "The Dirty Dozen" and
"The Hunger Games".
U Venugopan Director Renowned Malayalam director U Venugopan died at age
67.
Venugopan, known for films like 'Sharjah to Sharjah',
'Sarvopari Palakkaran', and 'Kusruthi Kuruppu', was
undergoing treatment for an ailment.
Acharya Priest Acharya Laxmikant Dixit, the chief priest who led the
Laxmikant Dixit consecration ceremony of Lord Ram's idol at the

Monthly BeePedia
June 2024
Ayodhya Ram temple earlier this year, passed away. He

was 85 years old.
Frank Duckworth Statistician English statistician and one of the inventors of the
Duckworth-Lewis-Stern (DLS) method, Frank Duckworth
died at the age of 84. Duckworth passed away on June 21.
BOOKS
Book Title Author/s About the book
'Source Code' Bill Gates Bill Gates is releasing a memoir titled 'Source Code', focusing
on his early life and the creation of Microsoft.
The memoir will portray Gates' childhood in Seattle, family
stories, and challenges like his struggles to fit in, the loss of
a close friend, and near expulsion from college.
The book is scheduled for release on February 4, 2025, and
all proceeds will be donated to the nonprofit United Way
Worldwide.
The Road to Joseph E Stiglitz "The Road to Freedom: Economics and the Good Society" by
Freedom: Joseph E. Stiglitz delves into the interplay between economics
Economics and the and societal well-being. Stiglitz critiques unfettered free-market
Good Society policies, advocating for a balanced approach where government
intervention ensures equitable distribution of resources and
opportunities. The book emphasizes the need for economic
policies that promote social justice, sustainability, and a higher
quality of life for all citizens.
Gateways to the Published by the The Governor of Maharashtra Shri Ramesh Bais released a
Sea: Historic Ports Publications Division, book titled 'Gateways to the Sea: Historic Ports and Docks of
and Docks of Ministry of Information Mumbai Region' at Raj Bhavan Mumbai on June 22, 2024 . The
Mumbai Region and Broadcasting book has been published by the Publications Division, Ministry
of Information and Broadcasting, Government of India. It
comprises of 18 articles by renowned authors, compiled by the
Maritime Mumbai Museum Society (MMMS).
Venkaiah Naidu – S Nagesh Kumar On the eve of 75th birthday of former Vice President of India,
Life in Service Shri M. Venkaiah Naidu, Prime Minister Narendra Modi
released three books on his life and journey on 30th June
via video conferencing. The books to be released by Prime
Minister include :
(i) Biography of the former Vice President titled “Venkaiah

Naidu – Life in Service” authored by S Nagesh Kumar, former
Resident Editor of The Hindu, Hyderabad edition
(ii) “Celebrating Bharat – The Mission and Message of Shri
M Venkaiah Naidu as 13th Vice–President of India”, a Photo
chronicle compiled by Dr. I.V. Subba Rao, Former Secretary to
Vice-President of India
(iii) Pictorial biography in Telugu titled “Mahaneta – Life and
Journey of Shri M. Venkaiah Naidu” authored by Shri Sanjay
Kishore.

Monthly BeePedia
June 2024
SPORTS
England cricketer Brydon Carse banned for placing 303 bets on cricket matches
 England fast bowler Brydon Carse has received a three-month ban for placing 303 bets on cricket
matches, with an additional 13 months suspended.
 Carse’s case is being used by the ECB as an educational example to emphasize the importance of
integrity and responsibility in professional cricket.
India joins World Boxing
 The Boxing Federation of India (BFI) has joined the newly formed international boxing body which
was established in 2023 as an alternative to the International Boxing Association (IBA).
 The BFI's membership was approved by its general assembly and now awaits ratification by the
executive council of World Boxing.
 This strategic move by India is aimed at assisting World Boxing in expanding its presence and
increasing its number of national federations across the Asian continent.
 With India's inclusion, the international boxing body now encompasses 28 member countries,
marking significant growth since its inception in the spring of the previous year.
 This development coincides with the IOC's warning to national federations about the potential
exclusion of their boxers from the Los Angeles 2028 Olympic Games if they remain affiliated with the
IBA, amidst ongoing governance and integrity issues.
Kedar Jadhav announces retirement from international cricket
 Kedar Jadhav, a prominent India and Maharashtra batter, has announced his retirement from
international cricket.
 His announcement came four years after his last appearance for the national team, signaling the end
of his involvement in all forms of cricket as of 15:00 hrs on the day of his announcement.
 He made his international debut for India in November 2014 in an ODI against Sri Lanka at Ranchi.
 During his career, Jadhav played 73 ODIs and nine T20Is for India.
 In ODIs, he scored 1,389 runs at an average of 42.09, including two centuries and six fifties.
World Athletics unveils new biennial championship, set to begin in 2026
 World Athletics announced the launch of the Ultimate Championships, a new global track and field
competition with a significant prize fund, set to begin in Budapest from September 11-13, 2026.
 The event promises $150,000 prizes for gold medalists, which is three times the cash reward pledged
for champions at the upcoming Paris Olympics.
 The Ultimate Championships will feature a total prize fund of $10 million, making it the richest
competition in the sport's history.
 The championships will occur every two years, aligning with the World Championships' schedule,
which are also biennial but held in odd-numbered years, potentially setting up a competition with the 2028
Los Angeles Summer Games.
 This initiative, including Coe’s recent promise of $50,000 for each track and field gold medal at the
Paris Olympics, has stirred caution and pushback from the International Olympic Committee (IOC) and
leaders of other Olympic sports.
Global Farewell for Football Icon Sunil Chhetri
 Sunil Chhetri, a key figure in Indian football, has officially retired from international football.
 His farewell match was a World Cup Qualifier against Kuwait in Kolkata’s Salt Lake Stadium.

Monthly BeePedia
June 2024
 His retirement received global recognition, with tributes from FIFA, Croatian footballer Luka Modric,
and Indian cricket legend Sachin Tendulkar.
Magnus Carlsen and Ju Wenjun Clinch Norway Chess 2024 Titles
 Magnus Carlsen secured his sixth Norway Chess title after winning an Armageddon tie-breaker against
Fabiano Caruana.
 Hikaru Nakamura drew against Praggnanandhaa R, placing second, while Praggnanandhaa finished
third in his debut outing.
 Ju Wenjun made history by winning the inaugural Women's Norway Chess tournament, defeating Lei
Tingjie.
 Anna Muzychuk finished second in the women’s tournament after drawing with Koneru Humpy and
winning in the Armageddon.
India to host 2025 FIH Hockey Men’s Junior World Cup
 India will host the FIH Hockey Men’s Junior World Cup in December 2025, featuring 24 teams for the
first time.
 The decision was made by the Executive Board of the International Hockey Federation (FIH).
 FIH President Tayyab Ikram highlighted the importance of giving more opportunities to diverse
National Associations and praised the increased team participation.
 The previous edition of the tournament was held in 2023 in Malaysia, with Germany winning their
seventh title.
 India has hosted the tournament three times before: 2013 (New Delhi), 2016 (Lucknow), and 2021
(Bhubaneswar), and won the title twice, in 2001 and 2016.
Puja Tomar Becomes 1st Indian to Win a Bout in UFC, Beats Brazil's Rayanne Amanda dos Santos
 Puja Tomar became the first Indian to win a bout in the UFC, defeating Brazil’s Rayanne Amanda dos
Santos via split decision at UFC Louisville.
Divya Deshmukh Wins World Junior Girls’ Chess Championship
 In chess, India’s Divya Deshmukh won the World Junior Girls’ Chess Championship after beating
Bulgaria’s Beloslava Krasteva in the final round at the Gift City Club in Gandhinagar, Gujarat.
 Top-seeded Divya beat Krasteva in the 10th round with just 26 moves to claim her maiden U-20 title.
 She finished unbeaten in the championship by winning nine of her games while drawing the other
two.
Chess Achievement – Arjun Erigaisi
o Arjun Erigaisi's Victory: India's highest-rated chess player, GM Arjun Erigaisi, won the Stepan Avagyan
Memorial 2024 in Jermuk, Armenia.
o Dominant Performance: Arjun dominated the 10-player field and secured the title with a round to spare.
o Key Match: He beat Russia’s Volodar Murzin with white pieces in 63 moves and drew with local player
Manuel Petrosyan in the final round.
o Recent Achievements: Second place in the TePe Sigeman Chess Tournament, joint-fifth in the Sharjah
Masters, and winner of the Menorca Open.
Indian Tennis Teams Clinch Bronze at the BRICS Games
• Occasion: BRICS Games.

• Location: Kazan, Russia.

Monthly BeePedia
June 2024
• Achievements
• Medal: Bronze for both Indian women’s and men’s tennis teams.
• Results
• Men's Third Place Match:
• India vs. Uzbekistan: India won 2-0.
• Karan Singh: Defeated Amir Milushev 3-6, 6-2, 6-4.
• Chirag Duhan: Defeated Ilya Ignatov 7-6(5), 6-4.
• Women's Third Place Match:
• India vs. Republika Srpska: India won 2-0.
• Vaishnavi Adkar: Defeated Sara Mikaca 6-7(5), 7-5, 6-2.
• Akanksha Nitture: Defeated Anastasia Ignjatig 6-3, 6-0.
• Men’s Semifinals:
• India vs. Belarus: India lost 2-0.
• Evaina Laskevich: Defeated Vaishnavi 6-1, 6-2.
• Darya Khamutsianskaya: Defeated Akanksha 6-3, 6-7(7), 6-2.
NADA re-imposes provisional suspension on Bajrang
 Bajrang Punia, a world and Olympic medal-winning wrestler, has been provisionally suspended again
by the National Anti-Doping Agency (NADA).
 NADA issued a 'notice of charge' to Bajrang, leading to his suspension.
 Bajrang was previously suspended for allegedly refusing to provide a urine sample at the National
selection trials in Sonipat on March 10.
 His earlier suspension was revoked on procedural grounds because he had not been served the notice of
charge.
 Vidushpat Singhania, Bajrang’s counsel, confirmed the reimposition of the suspension.
Four AFMS Officers Clinch 32 Medals At World Medical And Health Games In France
 Four AFMS Officers won 32 Medals in the 43rd World Medical and Health Games in Saint-Tropez,
France, from June 16 to 23.
 The officers are Lt Col Sanjeev Malik, Maj Anish George, Capt Stephen Sebastian, and Capt Dania
James.
 They secured a record 19 Gold Medals, nine Silver Medals, and four Bronze Medals.
 This event is the world’s largest sports event for health professionals.
 Lt. General Daljit Singh, Director General of AFMS, congratulated the officers on their outstanding
performances and wished them continued success.
Archery World Cup 2024: Dhiraj Bommadevara beats Olympic medallist Mauro Nespoli to win
bronze in Antalya
 Dhiraj Bommadevara won the bronze in the men’s recurve event at the Archery World Cup 2024 stage
3 in Antalya, defeating Italy’s Mauro Nespoli 7-3 in the playoff match.
 Bommadevara overcame Nespoli, an experienced Olympic medalist with gold in London 2012 and silver
in Beijing 2008 and Tokyo 2020.
 He lost the semi-finals to Korea’s Kim Woojin, a two-time Olympic gold medalist, who won the final against
Brazil’s Marcus D'Almeida.
 Bommadevara also won a bronze medal in the mixed recurve team event with Bhajan Kaur, defeating
the Mexican team 5-3.
 Ankita Bhakat lost the bronze medal match in the women’s recurve event to Alejandra Valencia 7-3,
after losing to Yang Xiaolei of China in the semi-finals.
 India concluded the Antalya leg with four medals: two bronze medals won by Dhiraj Bommadevara, a
gold medal by the women’s compound team, and a silver medal by Priyansh in the men’s compound
individual event.

Monthly BeePedia
June 2024
Russell becomes highest wicket-taker for West Indies in their T20 World Cup history
 Andre Russell became the highest wicket-taker for the West Indies in T20 World Cup history, surpassing
Dwayne Bravo with a total of 29 wickets.
Asian Wrestling Championships In Amman
 India concluded their campaign at the Under-17 Asian Wrestling Championships in Amman, Jordan,
winning 11 medals.
 The team won four gold, two silver, and five bronze medals.
 Women wrestlers secured all four gold medals: Dipanshi (46 kg), Muskan (53 kg), Rajnita (61 kg), and
Mansi Lather (69 kg).
 Raja Bala earned a silver in the 40 kg category.
 Samarth Gajanan Mhakave won a silver medal in the 55 kg category for the men.
 Bronze medals were won by Akash (65 kg), Sachin Kumar (71 kg), Bikash Kacchap (48 kg), Tushar
Tukaram Patil (60 kg), and Ronak (110 kg).
David Warner retires from international cricket as Australia crash out of T20 World Cup
 David Warner's 15-year international cricket career ended after Australia was knocked out of the T20
World Cup by Afghanistan.
 Australia finished third in their Super 8s group, with wins against Bangladesh but losses to Afghanistan
and India.
 David Warner, who debuted in 2009, played his final international match against India on June 24, 2024,
scoring six runs.
 He retires as Australia's highest T20 scorer with 3,277 runs and notable records in Tests (8,786 runs)
and ODIs (6,932 runs).
 David Warner's career is also marked by the sandpaper gate scandal in 2018, leading to a one-year ban
and a lifetime ban from leadership roles.
 David Warner was part of the Sunrisers Hyderabad in the IPL, leading them to their only title in 2016.
Paris Olympics 2024: Harmanpreet named captain as Hockey India announces 16-member squad
 Harmanpreet Singh named captain and Hardik Singh deputy for India's 16-member squad for the Paris
Olympics.
 India, placed in Pool B, will compete against Belgium, Australia, Argentina, New Zealand, and Ireland.
 Top four teams in the pool's points table advance to the quarter-finals.
 Five debutants: Jarmanpreet Singh, Sanjay, Raj Kumar Pal, Abhishek, and Sukhjeet Singh.
 PR Sreejesh and Manpreet Singh set for their fourth Olympic appearance; Harmanpreet for his third.
 India's campaign starts against New Zealand on July 27, followed by matches against Argentina,
Ireland, Belgium, and Australia.
Kapil Dev becomes new India golf chief
 Kapil Dev appointed as president of the Professional Golf Tour of India (PGTI).
 Kapil Dev, renowned as a world's greatest all-rounder, led India to their first World Cup victory in 1983.
 His cricket career ended in 1994 with 434 Test wickets and 5,248 runs.
 The 1983 World Cup victory against the West Indies sparked a cricket revolution in India.
T20 World Cup 2024 final

Monthly BeePedia
June 2024
 India won the ICC Men’s T20 World Cup 2024, ending a 13-year wait for the trophy, by defeating South
Africa by seven runs in the final at Kensington Oval, Barbados.
 Virat Kohli and captain Rohit Sharma celebrated the victory; Kohli played a crucial innings, scoring 76
off 59 balls and was named Player of the Match.
 Virat Kohli confirmed his T20 international retirement after the match, expressing gratitude for achieving
this milestone in his last T20 World Cup.
 India set a target of 176 with significant contributions from Axar Patel (47 off 31) and Shivam Dube (27
off 16).
Shafali Verma becomes fastest woman double-centurion in Test cricket
 Shafali Verma scored the fastest double-century in women’s Test cricket, with 205 off 197 balls against
South Africa.
 She broke Annabel Sutherland’s record, who scored a double century off 248 balls.
 Shafali became the second Indian woman to hit a double century in Test cricket, after Mithali Raj.
Sources of the News:
The Hindu,The Indian Express,Business Standard, The Financial Express ,PIB, etc.


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RBI, Banking and Economy ___________________________________________ 2

SEBI and Financial Awareness _________________________________________ 12

NABARD and Agriculture ___________________________________________ 18

Reports and Indexes _______________________________________________ 36

Science and Technology ___________________________________________ 45

Awards & Rewards ___________________________________________________ 58

Important Days ___________________________________________________ 63

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RBI Variable Rate Repo (VRR) Auction Announcement

RBI Cancels Purvanchal Cooperative Bank’s Licence

RBI's Foreign Currency Transactions in April 2024

• Net Sale: $3.64 billion in April 2024.

RBI Launches Survey on International Trade in Banking Services (ITBS): 2023-24

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Axis Bank and Mastercard Introduce NFC Soundbox

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Manufacturing sector’s growth lifts GDP to 8.2%

Goldman Sachs boosts India GDP forecast to 6.9% for CY24

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Netherlands Emerges as India’s 3rd Largest Export Destination in 2023-24

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NCLT gives approval for Vistara, Air India merger

Muthoot Microfin inks co-lending pact with SBI

SBI becomes first PSB to cross ₹ 8 trn mcap

SBI launches ‘SME Digital Business Loans

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SBI Hikes MCLR Rates Effective June 15

India to remain fastest-growing among largest economies: World Bank

Industrial output growth dips to 3-month low of 4.97%

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Minutes of the Monetary Policy Committee Meeting, June 5-7, 2024

LNG Imports and Domestic Production Update

• LNG imports fell by 7.2% year-on-year in May.

India's Growth Forecast Update

• Fitch Ratings has revised India's growth forecast.

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India's Net Direct Tax Collections for FY25 Q1

• Total Remittances: $2.28 billion in April 2024.

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GST rate rationalisation panel reconstituted, Bihar dy CM named convenor

India’s Core Sector Grew By 6.3% In May

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 The S&P Global Ratings retained its growth

SEBI and FINANCIAL AWARENESS

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India achieves ‘outstanding outcome’ in FATF evaluation

India's Future Unicorns in the FinTech Sector

• India has 30 future Unicorns in the FinTech sector.

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SEBI's New Framework for Special Call Auctions for Holdcos

Increase in Net Foreign Direct Investment (FDI) in India in April 2024

TATA AIA Life Insurance Declares ₹1,465 Crore Bonus

• Bonus Amount: ₹1,465 crore for FY24.

SEBI Penalties on Hexa Tradex Ltd