Weekly PDF June 2024: Fourth Week PDF

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Best Courses For You www.yesofficer.com To Know More, Download Yes Officer Application https://play.google.com/store/apps/details? id=com.yesofficer.learners&pcampaignid=web_share To Buy Yes Officer Premium Subscription, Click on the below link or scan the QR ये ऑफिसर प्रीमियम सब्सक्रिप्शन खरीदने के लिए नीचे दिए गए लिं क पर क्लिक करें या क्यूआर स्कै न करें https://www.yesofficer.com For any Assistant Please Feel Free to Contact at: 9238123890 https://www.youtube.com/@YesOfficerBankExams Subscribe Yes Officer YouTube Channel For Daily Current Affairs Classes Join this Telegram Channel Of yes Officer https://t.me/yesofficeryesmock  Weekly PDF June 2024: Fourth Week Banking & Finance  The all-time high for the reserves was 1. RBI fines HSBC Rs 29.6 lakh for credit card rule $655.817 billion on June 7. violations  Foreign currency assets, a major component  Fine imposed on: The Hongkong and of the reserves, decreased by $106 million to Shanghai Banking Corporation Limited $574.134 billion. (HSBC)  India's gold reserves increased by $988  Fine imposed by: RBI million to $56.956 billion.  Amount: Rs 29.6 lakh  Special Drawing Rights (SDRs) were down by  Violation: Credit Card rule $57 million to $18.049 billion  RBI has guidelines for how banks handle  India's reserve position with the credit cards, including how they calculate the International Monetary Fund (IMF) was minimum amount you must pay each month down by $9 million to $4.572 billion. (minimum payment due).  HSBC failed to ensure that a specific 4. Govt's gross liabilities up 3.4% at Rs 172 trn by calculation method, designed to prevent your March credit card debt from growing faster than you  Data by: Ministry of Finance can pay it off, was being followed in some  Report title: The public debt management accounts. quarterly report (January-March, 2024)  Total gross liabilities of the government 2. RBI raises limit for short-term borrowing for increased to Rs 171.78 trillionat the end of states, UTs from July 1 March 2024 from Rs 166.14 trillionat  Context: To raise limit for short-term December-end. borrowing for states, UTs  This represented a quarter-on-quarter  Raised by: RBI increase of 3.4 per cent in the fourth quarter  Implemented from: July 1, 2024 of 2023-24.  The revised aggregate Ways and Means  Public debt accounted for 90.2 per cent of Advances (WMA) limit for states and UTs will total gross liabilities during the quarter. be Rs 601.18 billion ($7.21 billion), compared  On the other hand, US treasury yields with the current limit of Rs 470.10 billion. remained volatile during the quarter mostly  The RBI provides WMA to states banking with affected by Federal Reserve action, inflation, it to help them tide over temporary and employment data. mismatches in the cash flow of their receipts  US 10-year yields touched a high of 4.33% and payments. during the quarter.  The change in the WMA was also based on  The weighted average yield softened to recommendations made by an RBI- 7.19% in Q4 2023-24 relative to 7.37% in Q3 constituted group, comprising select state 2023-24 on new issuance. finance secretaries  States can now avail a maximum of 50 per 5. Govt keeps small savings schemes' interest cent or lower of the outstanding balance of rates unchanged for Q2FY25 the funds as on the last date of the second  The government left the interest rates on preceding quarter. various small savings schemes unchanged  They can also use the current balance held in  For the quarter beginning July 1, 2024, and either the Consolidated Sinking Fund or ending on September 30, 2024 Guarantee Redemption Fund, reserve funds  Sukanya Samriddhi scheme will attract an set by the central bank with the states' interest rate of 8.2 per cent, while the rate on contributions to service debt payments. a three-year term deposit remains at 7.1 per cent. 3. Forex reserves rise by $810 mn to $653.7 bn as  interest rates for popular PPF and post office on June 21: RBI data savings deposits scheme too have been  India's foreign exchange reserves rose by retained at 7.1 per cent and 4 per cent, $810 million and stood at $653.71 billion as respectively. of June 21.  The interest rate on the Kisan Vikas Patra will  The reserves had fallen by $2.9 billion in the be 7.5 per cent, and the investments will previous week. mature in 115 months.  Weekly PDF June 2024: Fourth Week  The interest rate on the National Savings Sustainability-Linked Bonds Certificate (NSC) will remain at 7.7 per cent  Mindspace Business Parks REIT has for the July-September 2024 period. announced its ₹650 crore Sustainability  The Monthly Income Scheme will earn 7.4 per Linked Bond issuance placed with the cent for investors. International Finance Corporation (IFC).  The coupon of the bond is linked to 6. Sebi raises basic demat account limit to Rs 10 Mindspace’s commitment to achieve certain lakh to boost participation ESG targets towards building a greener eco-  Sebi increased the threshold for the basic system. service demat account to Rs 10 lakh from the  Mindspace REIT is sponsored by the K Raheja current Rs 2 lakh. Group.  To boost participation of small investors in the securities market 10. Muthoot Microfin secures corporate agent  The new guidelines will come into force from license from IRDAI September 1.  Corporate Agent License received by:  Increasing the limit of securities' value held in Muthoot Microfin the Basic Services Demat Account (BSDA) will  Given by: IRDAI encourage small investors to trade in the  Enable: To offer tailored insurance plans to stock market and ensure their financial its customer base. inclusion. 11. Royal Sundaram General Insurance integrates 7. Bangladesh Receives 1.15 Billion Dollars From with IRCTC IMF  Royal Sundaram General Insurance (RSGI)  Bangladesh received 1.15 billion dollars from has integrated with the Indian Railway the International Monetary Fund (IMF). Catering and Tourism Corporation (IRCTC)  It marking the third tranche of a 4.7 billion  Reason: To enable embedded Group Personal dollars loan package. Accident (GPA) policies to be offered  Besides the IMF funds, Bangladesh also alongside e-ticket purchases through received around 900 million dollars from INSILLION’s API platform. other sources including the International  Target: To issue 500k policies per day Bank for Reconstruction and Development  To meet the stringent requirements of a (IBRD). highly scalable solution, RSGI partnered with  The gross forex reserve of Bangladesh will be INSILLION to rapidly launch an embedded around 26 billion dollars. insurance offering leveraging their API  The IMF approved the first tranche of the loan platform and cloud architecture. package on January 30, 2023, with 12. HDFC Bank launches digital investment Bangladesh receiving 447.8 million dollars on platform SmartWealth 2nd February, 2023.  Launch of: SmartWealth  The entire IMF loan will be disbursed to  Launch by: HDFC Bank Bangladesh in seven installments over three  A new digital investment platform to take and a half years, concluding in 2026. wealth services to every Indian and make 8. ICICI Bank M-Cap Tops $100 bn; Becomes Only investments simple and transparent. Sixth Indian Co to Hit Milestone  It allows investors to make the right  $100-billion market capitalisation joined by: investment decisions and plan their financial ICICI Bank journey.  Becoming only the sixth company to do so  It has been developed with first-time  Already joined by: Reliance Industries, Tata investors in mind, built with smart Consultancy Services, HDFC Bank, Bharti intelligence and has pioneering tools that Airtel, and Infosys allow users to make the right investment  Note: ICICI Bank is the second largest bank in decisions to plan their finances. India by market capitalisation, trailing HDFC  The Portfolio Analytics feature on Bank. SmartWealth analyses asset distribution and alerts users to overexposure in a particular 9. Mindspace Becomes First Indian REIT to Issue fund, thereby mitigating risk.  Weekly PDF June 2024: Fourth Week  Using SmartWealth, investors can invest in  The gross non-performing assets (GNPA) mutual funds, open fixed deposits, or create ratio fell to a multi-year low of 2.8% at the recurring deposits. Investments in insurance, end-March 2024. sovereign gold bonds and PPF are in the  Scheduled Commercial Banks' gross non- pipeline. performing assets (GNPA) ratio fell to a multi- year low of 2.8% 13. Hitachi Payment Services receives RBI nod for  The net non-performing assets (NNPA) ratio payment aggregator to 0.6% at end-March 2024  Payment aggregator license: Hitachi Payment Services  The capital to risk-weighted assets ratio  Nod by: The Reserve Bank of India (RBI) (CRAR) and the common equity tier 1 (CET1) ratio of SCBs stood at 16.8 per cent and 13.9  Payment Aggregator under the Payments and per cent, respectively, at end-March 2024 Settlement Systems Act, 2007.  Macro stress tests for credit risk reveal that  This authorization allows Hitachi to expand SCBs would be able to comply with minimum its digital services, offering comprehensive capital requirements, with the system-level payment solutions such as UPI, Netbanking, CRAR in March 2025 projected at 16.1 per and BNPL. cent, 14.4 per cent and 13.0 per cent, 14. India to enter into bilateral Rupee swap respectively, under baseline, medium and agreements with SAARC countries: RBI severe stress scenarios.  Collab between: The Reserve Bank of India  With regard to non-banking financial and South Asian Association for Regional companies (NBFCs), remain healthy, with Cooperation (SAARC) countries CRAR at 26.6 per cent, GNPA ratio at 4.0 per  Tenure: 2024 to 2027 cent and return on assets (RoA) at 3.3 per  Aim: To fund short-term foreign exchange cent, respectively, at end-March 2024. liquidity requirements or balance of payment crises 16. CBIC to launch automated currency exchange rate publishing system on July 4  Revised framework on currency swap  Launch of: Exchange Rate Automation arrangements Module (ERAM) system  SAARC nations: Afghanistan, Bangladesh,  Launch by: Central Board of Indirect Taxes Bhutan, India, the Maldives, Nepal, Pakistan and Customs (CBIC) and Sri Lanka  Date: July 4  As part of the revised framework for 2024-27,  Replace: Existing manual process of notifying a separate Rupee Swap Window has been exchange rates through a notification introduced with various concessions for  ERAM is a significant step towards trade swap support in Indian Rupee. facilitation as the exchange rates of 22  The total corpus of the Rupee support is Rs currencies would now be published online in 250 billion advance for ease of consumption by all  The RBI will continue to offer swap importers and exporters arrangements in US dollar and Euro under a  These exchange rates would be made separate US Dollar/Euro Swap Window with available on the ICEGATE website twice a an overall corpus of US$ 2 billion. month i.e. on the evening of the 1st and 3rd  The arrangements came into force on Thursdays of the month and would be November 15, 2012 to provide a backstop effective from midnight of the following day. line of funding for short-term foreign exchange liquidity requirements or balance 17. Truecaller, HDFC ERGO tie up for insurance of payment crises of the SAARC countries till product to safeguard subscribers longer term arrangements are made.  Joined hands: Truecaller and HDFC ERGO  Offer: To safeguard subscribers against 15. Financial system resilient, banks GNPAs fall to digital communication frauds in India multi-year low at 2.8%: RBI  The insurance offering underscores its  Report title: Financial Stability Report (FSR) commitment to combating fraud and  Report by: The Reserve Bank of India ensuring user protection through advanced  Indian economy and the financial system remain robust and resilient.  Weekly PDF June 2024: Fourth Week app features - before, during and after mobile  It aims to build an incentive framework with communication. higher weight (125%) for districts with  A recent report by the Indian Cyber Crime comparatively lower credit flow and a Coordination Centre revealed that digital disincentive framework with lower weight financial frauds accounted for a staggering Rs (90%) for districts with comparatively higher 1.25 lakh crore over the last three years credit flow.  The product will provide coverage up to Rs  Effective Period: From FY 2024-25 to FY 10,000 to Android and iOS users across India. 2026-27.  All bank loans to MSMEs shall qualify for 18. Tata Group retains top spot as India's most classification under PSL. valuable brand at $28.6 billion  Report title: Brand Value’s 'India 100 2024 20. GST Council waives interest, penalty on tax ranking demands between FY18 and FY20  Tata Group has retained its position as India’s  Goods and Services Tax (GST) Council: most valuable brand with a value of $28.6  Edition: 53rd billion.  Date: 23rd June 2024  Following Tata, Infosys holds thTTe second  Agenda: To reduce tax litigation and position. enhancing ease of business across the sectors  HDFC Group has made a significant leap to  Approvals: third place.  Waived interest and penalty for demand  The banking sector also reported a 26 per notices issued for the financial years 2017- cent increase in brand value, with State Bank 18, 2018-19, and 2019-20. of India (SBI) retaining its position as the o (This is for cases where the taxpayer second most valuable bank in India, boasting pays the full amount of tax raised in a brand value of $6.9 billion. the notice by March 31, 2025.) o Note: The waiver is conditional and 19. Reserve Bank of India (RBI) revises Priority does not cover wilful defaulters. Sector Lending (PSL) norms  What is PSL?  PAN-India implementation of biometric-  PSL: Priority Sector Lending based registration in a phased manner. o Aim: To help weed out fake  Formalised in: 1972 registrations and fake credits.  Aim: To facilitate flow of credit to such  Nod to one of the key amendments in the sectors, which though creditworthy, are Central GST Act under Section 11A. unable to access credit from formal financial o It will give power to both the centre institutions. and states to waive off the GST not  PSL Targets: paid due to ambiguity of law or on o Banks have to mandatorily allocate a account of “general practices” portion of their Adjusted Net Bank consistently being followed by the Credit (ANBC) or Credit Equivalent of businesses. Off-Balance Sheet Exposure (CEOBE),  To reduce litigation, the Council has approved whichever is higher a monetary limit of: o Mandated target differs for different o GST Appellate Tribunal: Rs 20 lakh banks: o High Court: Rs. 1 crore o 40% for Scheduled commercial banks o Supreme Court: Rs 2 crore and foreign banks (with 20 or more o For the filing of appeals by the GST branches) department. o 75% for RRBs and SFBs. o Further, it reduced the quantum of  UCBs have to allocate 65% to PSL in FY 2024- pre-deposit required to be paid for 25 but increasing it to 75% in FY 2025-26. filing of appeals under GST.  Revision of PSL norms:  On services, it exempted certain services  Districts will be ranked based on per capita provided by Indian Railways and intra- credit flow to the priority sector. railway supplies.  Aim: To address regional disparities o GST relief was also given to students on accommodation services, for up to  Weekly PDF June 2024: Fourth Week Rs 20,000 per month per person, if  Cancelled quantity/value exceeding 50% of the person stays a maximum of 90 the quantity/value placed by the client. days. 22. State Bank of India pays record dividend of Rs  The Council has introduced a sunset clause 7,000 cr to Centre from April 1, 2025, for filing complaints of  Dividend of: Cheque of Rs 6,959.29 crore anti-profiteering matters.  Paid by: The State Bank of India (SBI)  About GST Council:  Financial Year: 2023-24 o Constitutional body  Paid to: The government of India o Responsible for making recommendations on issues related  For FY23, the lender had given a cheque of Rs to the implementation of the GST in 5,740 crore as its dividend income to the India. government. o Article 279A of the Indian  Note: Bank of Maharashtra pays ₹857 cr Constitution gives power to the dividend to Govt President of India to constitute a joint 23. RBI Governor Addresses Second Edition Of forum of the Centre and States called Global Conference On Financial Resilience the GST Council, consisting of:  Event: Global Conference On Financial o Chairperson: Union Finance Minister Resilience o The Union Minister of State, in-charge  Edition: Second of Revenue of finance  Attended by: RBI Governor Shaktikanta Das o The Minister in-charge of finance or  Organized by: The College of Supervisors taxation, or any other Minister (CoS) of RBI in Mumbai nominated by each State Government  RBI's Governor's view: 21. SEBI Strengthens IPO Pricing Rules to Prevent  Transformative potential of advanced and Manipulation emerging technologies such as artificial  Aim: To curb manipulation in the process intelligence (AI), machine learning (ML), and involved in computing the opening price for a big data analytics in financial institutions. stock on the day of its listing following an  AI and ML can significantly enhance initial public offering (IPO) predictive analytics, enabling banks and  Key Highlights : NBFCs to identify potential risks and trends  Duration and Structure of New Session: more accurately.  The new pre-auction session lasts 60 minutes 24. Karnataka Vikas Grameena Bank gets from 9 am to 10 am. national award for APY implementation  45 minutes: Order entry, order modification,  National award for APY implementation: and order cancellation. Karnataka Vikas Grameena Bank  10 minutes: Order matching and trade  Awarded by: Pension Fund Regulatory and confirmation. Development Authority (PFRDA)  5 minutes: Buffer period to transition from  KVGB is a regional rural bank sponsored by pre-open to normal trading session. Canara Bank  Implementation Timeline: The new rules will  Chairman of KVGB: Shreekant M Bhandiwad take effect after 90 days from the issuance of  APY provides a safety net for workers in the the SEBI circular. informal sector, ensuring a pre-defined  Random Closures:System-driven random pension after 60 years. closures will occur during the last ten minutes of order entry (between the 35th and 25. Mirae Asset Mutual Fund launches Mirae 45th minute) to prevent manipulation. Asset Nifty EV and New Age Automotive ETF  Alerts will be generated based on  Launch of: Mirae Asset Nifty EV and New Age parameters such as: Automotive ETF  Significant modification of prices from  Launched by: Mirae Asset Investment previously placed orders. Managers  Cancelled quantity/value exceeding 5% of  Specialising: Electric Vehicles (EVs) and the total cancelled quantity/value across the emerging automotive sector market during the pre-open session.  Open-ended scheme  Weekly PDF June 2024: Fourth Week  The fund will follow the Nifty EV and New Age  Life-cycle funds: Automotive Total Return index  They are asset-allocation funds in which the  Key points: share of each asset class is automatically  Date: June 24, 2024 - July 5, 2024. adjusted to lower risk as the desired  Managers: Ekta Gala and Akshay Udeshi retirement date approaches.  Minimum initial investment of ₹5,000, with 29. S&P Global Ratings retains India's growth additional investments in multiples of Re 1. forecast for FY25 at 6.8%  The scheme will allocate 95-100% of its funds  Predicted by: S&P to securities listed in the Nifty EV and New  India's GDP growth for FY25: 6.8% Age Automotive index, and 0-5% to money market instruments, including tri-party repo  Status: No change/retain agreements, debt securities, and units of  Reason: High interest rates and lower fiscal debt/liquid schemes offered by domestic boost tempering demand in the non- mutual funds. agricultural sectors 26. Current account balance posts surplus of  For FY26 and FY27, S&P projected India’s 0.6% of GDP in Jan-Mar 2024: RBI economy to grow at 6.9 per cent and 7 per  Data by: The Reserve Bank of India (RBI) cent, respectively.  India’s current account balance posted a  GDP growth forecast for China to 4.8 per cent surplus of $ 5.7 billion or 0.6% of gross from 4.6 per cent for 2024 domestic product (GDP) during the fourth quarter ended March 2024 (Q4FY24). 30. PFRDA target 28% NPS assets growth for FY25  Organization: PFRDA  There was a current account deficit (CAD) of $1.3 billion (0.2% of GDP) during the fourth  Target for FY25: NPS assets of ₹15-lakh crore quarter of the previous financial year. by March 2025  CAD was $8.7 billion (1 per cent GDP) during  This reflects a 28 per cent jump over AUM of the quarter ended December 2023 (Q3FY24). ₹11.73-lakh crore recorded as of end March 2024. 27. SBI Mutual Fund launches SBI Silver ETF FoF  Achieving this target is however subject to  Launch of: SBI Silver ETF Fund of Fund the equity markets continuing with its  Launched by: SBI Mutual Fund ongoing momentum  Date: June 27 to July 5  Chairman, PFRDA: Deepak Mohanty  Minimum Subscription: Rs. 5,000 per application and in multiples of Re. 1 31. Rs 26 trillion of India's economy formalised in FY16-FY23: SBI thereafter  Data by: The State Bank of India (SBI)  The fund manager of SBI Silver ETF FOF will  Report title: Annual Survey of be Harsh Sethi. Unincorporated Sector Enterprises (ASUSE)  SBI Silver ETF Fund of Fund would primarily  India has formalised Rs 26 trillion of its invest a minimum of 95% and a maximum of economy between FY16 and FY23. 100% of its assets in units of SBI Silver ETF.  Reason: The share of the informal economy  The balance of up to 5% would be invested in fell to 23.7% from 25.9% during the seven- Government securities (like G-Secs, SDLs, year period treasury bills and any other like instruments  In absolute terms, the total amount of as specified by the RBI from time to time), informal GVA increased to Rs 58.4 trillion in including triparty repo and units of liquid FY23 from Rs 18.6 trillion in FY16. mutual fund.  Of this, informal agriculture contributed Rs 28. PFRDA to Launch New Life Cycle Fund Option 43 trillion, followed by informal services (Rs by September 11.8 trillion) and informal industry (Rs 3.6  Launch of: New Life Cycle Fund Option trillion) in FY23.  Launched by: Pension Fund Regulatory and  Meanwhile, the share of informal agriculture Development Authority (PFRDA) in total GVA rose to 95.9 per cent in FY23  The regulator would introduce new life cycle from 94.8 per cent in FY11. fund options with up to 50% equity by  On the other hand, the share of informal September for NPS (non-government) industry and informal services declined to 5.3 subscribers.  Weekly PDF June 2024: Fourth Week per cent and 8.8 per cent in FY23 from 6.6 per Repo Auction cent and 13.8 per cent in FY11.  Banks showed high demand for cash by bidding Rs 1.6 trillion in the Reserve Bank of 32. BharatPe partners with Invest India to boost India’s (RBI) variable rate repo (VRR) auction digital financial inclusion against a notified amount of Rs 1 trillion.  Partnership between: BharatPe and Invest  This comes amid a period of tight liquidity, India with banks borrowing at a weighted average  Aim: To promote digital financial inclusion rate of 6.62%. and digital financial literacy across One  Liquidity Trends in June District One Product (ODOP) producers and  Rs 30,000 crore on June 3 sellers across ODOP districts in the country.  Rs 50,000 crore on June 4.  This will enhance access to digital payment mediums amongst ODOP merchants in tier 3-  Rs 64,500 crore on June 16 4 cities and rural areas of India.  Rs 98,612 crore on June 17  One District One Product:  The deficit intensified to Rs 1.5 trillion by  Launched by: Ministry of Food Processing June 19 Industries  Repo auctions conducted by the central bank  Year: 2018 are a mechanism to inject liquidity into the banking system, allowing banks to obtain  Objective: To help districts reach their full overnight liquidity through the RBI’s potential, foster economic and socio-cultural marginal standing facility when interbank growth, and create employment liquidity is insufficient. opportunities, especially, in rural areas.  Aim: To turn every district in India, into an 35. Reserve Bank of India Updates URL for export hub through promotion of the product ‘Database on Indian Economy’ Portal in which the district specialises.  The Reserve Bank of India (RBI) has  This initiative is carried out with the ‘Districts announced a significant update to its as Exports Hub’ initiative by the Directorate ‘Database on Indian Economy’ (DBIE) portal, General of Foreign Trade (DGFT), effective immediately. Department of Commerce.  The portal’s domain address will now be accessed through https://data.rbi.org.in, 33. Short debt's share in total external debt down consolidating its services and ensuring 2.1 percentage points: RBI seamless access for users.  Report by: The Reserve Bank of India (RBI)  Previously used URLs, such as  The share of short-term debt with an original https://dbie.rbi.org.in and maturity of up to one year in total external https://cimsdbie.rbi.org.in, will debt declined to 18.5% at end-March 2024 automatically redirect to the new address. from 20.6 per cent at end-March 2023.  Initially launched on November 1, 2004, the  The ratio of short-term debt to foreign DBIE portal has evolved into a crucial exchange reserves declined to 19.0 per cent resource for accessing a comprehensive at end-March 2024. range of economic and financial statistics  India’s external debt stood at $663.8 billion at the end of March 2024 36. ICICI Bank introduces ‘SmartLock’ safety  US dollar-denominated debt remained the measure on iMobile Pay largest component of India’s external debt,  Introduction of: SmartLock with a share of 53.8 per cent at end-March  Introduced by: ICICI Bank 2024, followed by debt denominated in the  Reason: To empower customers to Indian rupee (31.5 per cent), yen (5.8 per lock/unlock access to internet banking, UPI cent), SDR (5.4 per cent), and euro (2.8 per (including payments from other UPI apps cent). linked to the bank account), credit and debit  The long-term debt (with an original maturity cards, simply by clicking a button. of above one year) was $541.2 billion at the  The “first-of-its-kind” measure in the end of March 2024, recording an increase of country’s banking sector will be available of $45.6 billion over its level at end-March 2023. iMobile Pay. 34. Banks Bid Rs 1.6 Trillion in Variable Rate 37. HDFC MF launches HDFC NIFTY100 Low  Weekly PDF June 2024: Fourth Week Volatility 30 Index Fund  Important points:  Launch of: HDFC NIFTY100 Low Volatility 30  PSBs have sought a two-year extension from Index Fund SEBI to achieve the 25% minimum public  Launched by: HDFC MF shareholding requirement  The fund will track the NIFTY 100 Low  Similar to the extension granted to LIC to Volatility 30 Index (TRI), to generate returns achieve 10% public shareholding by May comparable to the index before accounting 2027. for fees and expenses.  Listed on the National Stock Exchange (NSE) 40. State Bank of India Plans to Expand Branch Network in 2024-25  The index aims to provide exposure to  Bank: State Bank of India companies with historically lower price  Plan: To expand branch network by 2024-25, fluctuations. expected to open 400 branches  Portfolio will consist of at least 95 per cent of  Aim: To enhance customer service, the securities covered by TRI. particularly in emerging sectors like wealth  The remaining 5 per cent can be invested in management. debt securities, money market instruments,  SBI opened 137 branches in 2023-24, with a and units of debt schemes of mutual funds. significant focus on rural areas.  The minimum subscription amount for the HDFC NIFTY100 Low Volatility 30 Index 41. Punjab & Sind Bank signs pact with Indian Fund is Rs 100 Army for salary account  The new fund offer will be open until July 5th,  MoU signed between: Punjab & Sind Bank and 2024. Indian Army  Reason: For salary account 38. Sebi forms 15-member working group to  Name of A/c: PSB Gaurav Bachat SB Salary review derivative trading norms account  Formation of 15-member working group  Design: To cater to the distinct banking  Formed by: SEBI requirement of serving and retired  Aim: To review derivatives trading norms personnels. with an aim of enhancing investor protection  Aim: To tap Agniveers enrolled in the and risk management Agnipath scheme, ensuring a comprehensive  The 15-member panel will be headed by G financial solution that aligns with distinctive Padmanabhan, former executive director of needs of the segment. Reserve Bank of India (RBI).  Feature: 39. Five Public Sector Banks Expected to Launch  Personal accident insurance QIPs in FY25 (Death/Disability) cover up to Rs 1 crore and  Context: Five Public Sector Banks (PSBs) are an air accidental cover of Rs 1.2 crore. planning qualified institutional placements  Similar benefits for the sacrifice of Veer Naari (QIPs) in the second half of FY25. (spouse of martyr).  Reason: To reduce the government’s stake to  Note: comply with the Securities and Exchange  During the 117th Foundation Day of the bank Board of India’s (SEBI) mandate of a celebrated on 24th June 2024, the lender has maximum 75% government holding also introduced PSB Pink debit card powered  Five PSBs: (1) UCO Bank, (2) Central Bank of by RuPay for women with a host of benefits. India, (3) Punjab & Sind Bank, (4) Bank of Maharashtra, and (5) Indian Overseas Bank 42. FY25 GDP growth may come close to 7.5%: NCAER's Monthly Economic Review  The quantum of share sale is expected to be  Report tile: Monthly Economic Review between 5% and 10% of the bank’s paid-up  Report by: National Council of Applied equity capital initially. Economic Research (NCAER)  Qualified Institutional Placement:  Expectation: GDP growth during FY25 may  It is a method for a publicly traded firm to turn out to be between 7%-7.5% raise funds by issuing equity shares, fully and  Significance: Showing resilience amid growth partially convertible debentures, or other dynamism in the Indian economy instruments.  Note:  Weekly PDF June 2024: Fourth Week  The Reserve Bank of India (RBI) has raised its the National Infrastructure Pipeline (NIP) projections for India's real GDP growth for with targeted investments of $1.4 trillion and FY25 to 7.2 per cent from 7 per cent. the National Monetisation Pipeline (NMP) 43. Growth in remittances to India may halve in International 2024: World Bank 1. India Makes Contribution Of 1.16 Million  Report title: Migration and Development Dollars To The UN For Promotion Of Hindi Brief  India has made a contribution of 1.16 million  Report By: World Bank dollars to the United Nations for the  Expectation: The growth in remittances to promotion of Hindi. India is likely to halve in 2024 to 3.7 per cent  India partnered with the UN’s Department of from 7.5 per cent in 2023 Global Communications (DGC) since 2018  India received remittances worth $120 when the Hindi @ UN project was launched. billion in 2023, supported by strong labour  Aim: To enhance the public outreach of the markets in the United States and Europe. United Nations in the Hindi language, and to  India remained the top recipient among spread greater awareness about global issues remittance-recipient countries, followed by among millions of Hindi-speaking people Mexico ($66 billion), China ($50 billion), the around the world. Philippines ($39 billion), and Pakistan ($27  There are six official languages of the UN. billion).  These are Arabic, Chinese, English, French,  India also remained the largest origin Russian and Spanish. countries of emigrants (18.7 million), 2. Denmark Set to Impose World’s First Carbon followed by Ukraine (11.9 million), China Tax on Gassy Cattle (11.1 million), Mexico (11 million), and  Denmark plans to implement a tax on República Bolivariana de Venezuela (8.9 livestock farmers starting in 2030 million).  First nation to do so. 44. PayU's LazyPay partners with Blinkit to offer  This initiative targets methane emissions customers with credit line from cows, sheep, and pigs, which are  Partnership between: PayU's LazyPay and significant contributors to global warming. Blinkit  The goal is to achieve a 70% reduction in  Aim: To provide a one-tap checkout Danish greenhouse gas emissions from 1990 experience to the platform’s customers. levels by the year 2030.  The latest partnership will provide the  From 2030, livestock farmers will be taxed Zomato-led quick commerce platform’s 300 kroner ($43) per ton of carbon dioxide customers with a credit line, at no additional equivalent, rising to 750 kroner ($108) by cost to merchants. 2035.  In 2017, PayU entered the consumer credit segment with LazyPay. 3. Turkey Triumphs as FATF Grey List Status Revoked 45. SBI raises Rs 10,000 cr via 15-year  Turkey has been removed from the FATF infrastructure bonds at 7.36% coupon 'grey list' after implementing significant  Bank: The State Bank of India (SBI) reforms to combat money laundering and  Raised amount: Rs 10,000 crore terrorist financing.  Via: 15-year infrastructure bonds  The decision was declared at the FATF  Aim: To fund projects in sectors like power, plenary meeting in Singapore. roads etc.  Turkey had been placed on the grey list in  The coupon rate for bonds is 7.36%. 2021.  The instrument is rated AAA with stable  In 2021, Turkey was downgraded to the grey outlook. list due to concerns over money laundering  The current issue was oversubscribed by and terrorist financing. about four times the base issue size of Rs  Criticisms included Turkey’s support for 5,000 crore. terrorist groups, such as Hamas, and  The government has introduced various inadequate supervision of various sectors initiatives to strengthen the economy, such as susceptible to illicit financial activities.  Weekly PDF June 2024: Fourth Week  Under US law, it provides foreign partners 4. Vienna tops the list of 10 best cities to live in the with certain benefits in the areas of defence world trade and security cooperation.  Report by: Economist Intelligence Unit (EIU)  While the MNNA status provides military and  Report Title: Global Liveability Index economic privileges, it does not entail any  The index ranks the liveability of 173 cities security commitments to the designated across five key categories, including stability, country. healthcare, culture and environment, education and infrastructure. 7. First International Dairy Federation Asia-  Topped by: Vienna (3rd year in a row) Pacific Summit in Kochi  Event: International Dairy Federation Asia-  Pakistan’s Karachi, and Bangladesh’s capital Pacific Summit Dhaka are amongst the least liveable cities in the world  Edition: First  The 9 best cities to live in the world:  Location: Kochi, Kerala o Vienna, Austria  Date: June 26th to June 28th 2024 o Copenhagen, Denmark  Discussion on: New ideas and problems in the o Zurich, Switzerland dairy industry o Melbourne, Australia  Organized by: Union Ministry of Fisheries, o Calgary, Canada (tied with Geneva) Animal Husbandry and Dairying, National o Geneva, Switzerland (tie) Dairy Development Board (NDDB), and the o Sydney, Australia (tied with International Dairy Federation (IDF) Vancouver)  Union Minister of Fisheries, Animal o Vancouver, Canada (tie) Husbandry and Dairying: Rajiv Ranjan Singh o Osaka, Japan (tied with Aukland) 8. India To Host 64th ISO Council Meeting From o Auckland, New Zealand (tie) June 25  The 10 cities that featured at the bottom of  Name of Event: International Sugar the list: Organisation (ISO) Council Meeting o Caracas, Venezuela  Edition: 64th o Kyiv, Ukraine  Host by: India o Port Moresby, PNG  Location: New Delhi o Harare, Zimbabwe  Delegates from more than 30 countries and o Dhaka, Bangladesh representatives of many international o Karachi, Pakistan organisations will participate. o Lagos, Nigeria o Algiers, Algeria  A workshop titled ‘Sugar and Biofuels – o Tripoli, Libya Emerging Vistas’ is also being organised at o Damascus, Syria Bharat Mandapam.  Minister of Consumer Affairs, Food and Public 5. Paraguay Becomes 100th Full Member Of The Distribution and New and Renewable Energy, International Solar Alliance Pralhad Joshi, Union will inaugurate the  Paraguay has become the 100th country to workshop. join as full member of the International Solar  ISO Council nominated India as the Chair of Alliance. the organisation for 2024 as India is the  Paraguay handed over the Instrument of world’s largest consumer and second-largest Ratification, during the meeting of producer of sugar. Ambassador Fleming Raul Duarte of  Note: ISO has about 85 countries as members Paraguay with Head of Depository, Joint 9. Tajikistan Government Bans Hijab and Other Secretary in the Ministry, Abhishek Singh in ‘Alien Garments’ New Delhi.  Ban on: Hijab and Other ‘Alien Garments’  Banned by: Tajikistan Government 6. US Designates Kenya As Major Non-NATO Ally  The United States of America (USA) has  Reason: To promote traditional attire designated Kenya as its major non-NATO ally  The law includes significant fines for (MNNA). violations: o Individuals: Up to 7,920 somonis  Weekly PDF June 2024: Fourth Week o Companies: Up to 39,500 somonis  Claim: They are home to termites for the o Government Officials: Up to 54,000 longest period, going back between 13,000 somonis and 34,000 years. o Religious Leaders: Up to 57,600 somonis 13. 67th Global Environment Facility Council  Location: Washington, DC, The USA 10. State of Global air-2024’ Report released  Date: 17-20 June 2024  Report by: Health Effects Institute and  Approved: A total of $736.4 million was UNICEF approved to support 34 nature conservation  Aim: To examine global air pollution trends and renewal projects globally from 1990 to 2021, highlighting significant  The GBFF gave $37.8 million to improve the health impacts. management of protected areas in Brazil and  Almost the entire global population (99%) Mexico. resides in areas with unhealthy levels of  For India: PM2.5 pollution, which refers to fine airborne  $6.7 million project to improve the protection particles less than 2.5 micrometres in of biodiversity and grow protected places diameter. that is in line with the Kunming-Montreal  Low- and middle-income countries typically Global Biodiversity Framework. face 1.3 to 4 times higher levels of PM2.5  A $10.7 million plan to protect marshes, exposure. forests, and grasslands that are important for  In India, along with China, over half of the migrating birds along the Central Asian global disease burden associated with air Flyway. pollution was reported, and nearly half of all ozone-related Chronic Obstructive 14. Iberian Lynx Conservation Status Upgraded to Pulmonary Disorder (COPD) deaths occurred Vulnerable in India in 2021.  Iberian Lynx  Protection status: Vulnerable 11. Global Gas Flaring Tracker Report released  Upgarde from: Endangered  Released by: World Bank  Upgarde by: International Union for  Compiled with the help of World Bank's Conservation of Nature (IUCN) Global Flaring and  The species is native to Spain and Portugal.  Methane Reduction (GFMR) Partnership.  In 2001, there were only 62 adult individuals,  Key Findings but by 2022, there were 648, and there are  Global gas flaring in 2023 has increased by now more than 2,000 of them. 7% from 2022 leading to a rise of 23 million tonnes of CO2 emissions. National 1. Mazagaon Dock Shipbuilders get Navratna  Major Contributor: Russia, Iran, Iraq, USA, etc. status as 18th PSU  About Gas Flaring  Department of Public Enterprises(DPE),  Refers to burning of the natural gas under the Ministry of Finance(MoF), has associated with oil extraction. granted the 'Navratna' status to Mazagon  Reasons: Dock Shipbuilders Limited (MDSL)  Safety Concern (de-pressurise the  Criteria for grant of Navratna Status: equipment).  The Miniratna Category - I and Schedule 'A'  Economical (logistical issues in transporting CPSEs who have achieved 'excellent' or 'very gases from oil fields are located in remote and good' rating under the Memorandum of inaccessible places). Understanding (MoU) system in three of the  Key Measures taken: Zero Routine Flaring by last five years, and have a composite score of 2030 (ZRF) initiative (World Bank) 60 or above in the six selected performance 12. World’s Oldest Termite Mounds Discovered in parameters, namely, Namaqualand o Net profit to net worth (25),  The heuweltjies are old termite mounds that o Manpower cost to total cost of take up about 20% of the land. production/services (15)  Location: Namaqualand, South Africa  Weekly PDF June 2024: Fourth Week o Profit Before Depreciation, Interest Two New Schemes On World MSME Day and Taxes (PBDIT) to capital o Launch of: MSME TEAM, and Yashasvini employed (15) campaign o PBIT to turnover (15) o Launched by: Union Minister for Micro, Small o Earnings per share (10) and Medium Enterprises (MSME), Jitan Ram o Inter-sectoral performance (20) Manjhi  With this status, they can invest up to Rs. o ‘MSME TEAM’: 1,000 crore or 15% of their net worth in a o Aims to facilitate five lakh micro and small single project, and up to 30% of their net enterprises for Open Network for Digital worth in a year, provided these investments Commerce. do not exceed Rs.1,000 crore. o Yashasvini campaign: o Focuses on mass awareness to formalize 2. Artificial Intelligence Preparedness Index 2024 women-owned informal micro enterprises o Released by: International Monetary Fund and provide necessary support and (IMF) assistance. o Rank 174 countries around the world based o World Micro, Small, and Medium Enterprises on how ready they are to use AI. (MSME) Day is celebrated on June 27th every o Three main groups of countries that the AIPI year. looks at: Low-Income Countries (LIC), o 2024 theme - 'MSMEs and the SDGs' Emerging Market Economies (EM), and Advanced Economies (AE) 5. Telecommunication Mobile Number o Singapore, Denmark, and the United States Portability (Ninth Amendment) Regulations 2024 are at the top of the list of AEs, with scores of To Come Into Force On July 1 0.80, 0.78, and 0.77, respectively. o Telecommunication Mobile Number o India, which is an EM, got a score of 0.49 and Portability (Ninth amendment) Regulations is now ranked 72nd in the world. 2024 will come into force on 1st July. o Bangladesh, Sri Lanka, and China, which are o Aim: To curb the porting of mobile numbers all close by, were ranked 113th, 92nd, and by way of fraudulent SIM swap/replacement 31st, with scores of 0.38, 0.43, and 0.63, by unscrupulous elements. respectively. o Through these amendment regulations, an additional criterion for the rejection of the 3. MoE Launches National Campaign on ToFEI request for allocation of a Unique Porting o The Ministry of Education has unveiled a Code has been introduced. comprehensive plan to create tobacco-free  Specifically, a UPC shall Not be allocated if the educational institutions across the nation. request for the UPC has been made before the o India is the world’s second-largest consumer expiry of seven days from the date of SIM and producer of tobacco. swap/replacement. o It faces a significant public health challenge with tobacco use accounting for 6. Hunar Indian Folk And Tribal Art Exhibition approximately 1.35 million deaths annually. Opens In Dubai o The Global Youth Tobacco Survey (GYTS)  Exhibition: Hunar Indian Folk And Tribal Art 2019 revealed that 8.5 percent of school Exhibition students aged 13 to 15 use tobacco in various  Location: Dubai forms.  Various artistic styles from across India, o On World No Tobacco Day, observed on May including Aipan art from Uttarakhand, 31, 2024, the Department of School Education Madhubani art from Bihar, and Warli art from & Literacy launched the “ToFEI Maharashtra. Implementation Manual.”  The exhibition also features vibrant murals of o This manual, developed under the National Kerala and intricate Muria art of Chhattisgarh Tobacco Control Programme (NTCP), aims to 7. Government Employees to Receive Extended guide schools in complying with Tobacco Maternity and Child Care Leave for Surrogacy Free Educational Institution (ToFEI)  Government employees involved in guidelines. surrogacy will now receive extended 4. Union Minister Jitan Ram Manjhi, Launches maternity leave of 180 days for  Weekly PDF June 2024: Fourth Week commissioning mothers and 15 days of  The Bharat Centre of Olympic Research and paternity leave for commissioning fathers. Education (BCORE) was inaugurated at the  The amended rules also align with the Rashtriya Raksha University in Gujarat’s Surrogacy (Regulation) Rules of 2022, Gandhinagar district. allowing married couples to use donor eggs  It has attained official recognition by the or sperm when one partner faces a medical International Olympic Committee (IOC) as an condition. academic center promoting Olympic values.  Maternity leave: The Maternity Benefit Act  Note: 1961, amended in 2017, entitles women to 26  Rashtriya Raksha University, established weeks of paid maternity leave. under the Parliament of India’s Act No. 31 of  This can be availed for up to two children, 2020, is a pioneering institution dedicated to with the leave for the third child being 12 national security and police education. weeks. 12. MoHUA Launches Safai Apnao, Bimaari  Adoptive mothers are eligible for 12 weeks of Bhagao Initiative leave for a child below three months old.  Launch of: Safai Apnao, Bimaari Bhagao 8. Central Electronics Limited (CEL) Granted Mini Initiative RATNA Status (Category-1)  Launched by: Ministry of Housing and Urban  Central Electronics Limited (CEL) was Affairs (MoHUA) honored with “Mini RATNA” status  Initiative under Swachh Bharat Mission- (Category-1) by Union Minister Dr. Jitendra Urban 2.0, running from July 1 to August 31, Singh. 2024.  This recognition underscores CEL’s  Aim: To bolster Urban Local Bodies (ULBs) in transformation from a loss-making PSU to a tackling heightened cleanliness and health profitable entity challenges during the monsoon season.  Achieving a net profit of approximately Rs 58  It aligns with the Ministry of Health and crore and consistently paying dividends to Family Welfare’s ‘STOP Diarrhoea Campaign’, the Government of India for three emphasizing comprehensive interventions consecutive years. and inter-departmental collaboration. 9. BlinkX opens India’s first Gen AI lab in the stock 13. Flipkart group launches super.money to re- broking industry enter India's fintech space  BlinkX launched BlinkX Gen AI Lab, a new  Launch of: super.money technology project  Launched by: Flipkart group  It is a digital stockbroking arm of JM  Aim: To tap into the growing digital financial Financial. services sector in India.  Aim: To use artificial intelligence to improve  Apart from payments on Unified Payments operational efficiency and the customer Interface (UPI), the platform will offer experience. services such as credit, deposit, credit card,  Location: Mumbai among others.  It covers more than 10,000 square feet.  It has launched a beta version of its Android 10. CAG inaugurates India’s first ‘Chadwick app. House: Navigating Audit Heritage’ Museum  The company corners nearly 49.2 per cent  Inauguration of: Chadwick House: Navigating market share in the UPI space, followed by Audit Heritage’ Museum Google Pay at 37.5 per cent, and Paytm at 8.21  Inaugurated by: Comptroller and Auditor per cent share as of May 2024. General of India  The top two players, PhonePe and Google  Location: Shimla Pay, corner about 87 per cent of the UPI  Chadwick House: Mahatma Gandhi’s stay in market share. 1946 during his visit to Shimla for the Cabinet Mission. 14. CAQM Sets Higher Target Of 4.5 Crore Plantations For NCR In FY 2024-25 11. Bharat Centre of Olympic Research and  The Commission for Air Quality Management Education launched in NCR and Adjoining Areas (CAQM) has set higher target of 4.5 crore plantations for the  Weekly PDF June 2024: Fourth Week entire National Capital Region during 2A was 5,50,000 tonnes per annum of Green financial year 2024-25. Ammonia.  Last year, a target of new plantations of about  Thereafter, Solar Energy Corporation of India 3.85 crores had been set in the entire NCR out (SECI) also issued Request for Selection (RfS) of which nearly 3.6 crores plantations were for selection of Green Ammonia Producers successfully carried out during the year. through a cost based competitive bidding process. 15. Bharti Airtel acquires 97 MHz spectrum for  Allocation for fertilizer sector increased from ₹6,857 crore at auction 5.5 lakh tonnes per annum to 7.5 lakh tonnes  Bharti Airtel has acquired 97 MHz per annum of Green Ammonia. spectrum—around 60% of total airwaves sold— in the 900 MHz, 1800 MHz, and 2100  The National Green Hydrogen Mission was MHz frequency bands in an auction launched on 04th January 2023 with an concluded for a total of ₹6,857 crore. outlay of Rs. 19,744 crores up to FY 2029-30.  The spectrum, which expires this year, was 18. Ministry of Coal initiates India’s First Ever obtained for a 20-year period Pilot project for Underground Coal Gasification in  Aim: To enhance the company’s mid-band Jharkhand holdings across key markets.  Ministry: Ministry of Coal  Eastern Coalfields Limited (ECL) has 16. India must add 1.7-3.6 GW data centre embarked on an innovative pilot project for capacity to its 2028 target Underground Coal Gasification (UCG)  Report Title: Is India Building Enough to  Location: Kasta coal block in Jamtara District, Power its Digital Transformation? Jharkhand  Report by: Real estate consultancy Cushman  Aim: To revolutionize the coal industry by & Wakefield using in-situ coal gasification to convert it  Forecast: India would require an additional into valuable gases such as methane, colocation data centre capacity of 1.7–3.6 hydrogen, carbon monoxide, and carbon Gigawatts (GW) by 2028, over and above the dioxide. planned development of 2.32 GW  These gases can be utilized to produce  The findings of the report said that for every synthetic natural gas, chemical feedstocks for 1 Megawatt (MW) of installed colocation fuels, fertilizers, explosives, and other capacity in India, 13.2 petabytes (PB) of data industrial applications. is generated.  In the USA, this ratio stands at 0.3 PB, in the 19. Centre announces partial reimbursement UK it is 0.4 PB, and 0.3 PB in Australia. scheme for exploration of critical minerals  In Singapore, it is lower at 0.1 PB  The mines ministry announced scheme to provide partial reimbursement of exploration 17. Govt enhances allocation for Fertilizer sector expenses for licence holders. under SIGHT Programme of NGHM  The government will provide 50 percent  Ministry: Ministry of New & Renewable reimbursement for exploration of critical Energy (MNRE) minerals with a cap of Rs 20 crore.  Implementation of: National Green Hydrogen  Union Minister of Coal and Mines G. Kishan Mission (NGHM) Reddy also launched the 4th tranche of  Aim: To achieve production capacity of 5 auction of critical and strategic minerals, and million tonnes per annum of Green Hydrogen declared the preferred bidders for the six in the country by the year 2030 blocks put up in auction during the 1st  Under the Mission, MNRE had issued the tranche. Scheme Guidelines for implementation of  Under the 4th tranche of auction, the SIGHT Programme – Component II: Incentive government included 21 blocks of critical for Procurement of Green Ammonia mineral. Production (under Mode2A) of the NGHM  Out of these 21 blocks, 11 are fresh blocks,  Mode 2A caters to the requirements of the spanning six States, Arunachal Pradesh, fertilizer sector. Chhattisgarh, Jharkhand, Karnataka,  As per the said Guidelines, the capacity Rajasthan and Uttar Pradesh. available for bidding under Tranche I of Mode  Weekly PDF June 2024: Fourth Week  These blocks contain a variety of minerals  Built on the legacy and success of the ‘One including graphite, glauconite, phosphorite, Week One Lab’ (OWOL) initiative started last potash, nickel, PGE, phosphate and Rare year. Earth Elements (REE). 22. Govt approves transmission projects worth Rs  Additionally, as part of this tranche, 10 13595 cr critical mineral blocks are on offer as the  Approval for: Inter State Transmission “second attempt” blocks of previous tranches System (ISTS) schemes of auction.  Agenda: To evacuate 9 GW of RE power from  These 10 blocks are located in Andhra Rajasthan and Karnataka Pradesh, Arunachal Pradesh, Chhattisgarh,  Implemented through Tariff Based Karnataka, Maharashtra and Tamil Nadu and Competitive Bidding (TBCB) mode have important critical minerals like  These schemes are part of 500 GW RE tungsten, vanadium, graphite, glauconite, capacity by 2030 out of which 200 GW is cobalt and nickel. already connected. 20. Govt proposes new bank to bridge credit gap  Rajasthan: for MSMEs o The power evacuation scheme of  A proposal to set up a separate bank for direct Rajasthan Renewable Energy Zone lending to the micro, small and medium (REZ) will evacuate 4.5 GW of RE enterprises (MSMEs). power from Rajasthan.  Aim: To deepen credit flows to the under- o It comprises 1 GW from Fatehgarh penetrated sector and thereby boost complex, 2.5 GW from Barmer economic activity and job creation. Complex and 1 GW from Nagaur  Currently, the Small Industries Development (Merta) Complex. Bank of India (SIDBI) provides largely o This power will be transferred to refinance to banks that lend to MSMEs, letting Mainpuri Region, Fatehpur and Orai the cost of finance to these units reduce. of Uttar Pradesh.  Established under an Act of Parliament in o Completion period: Two years 1990, SIDBI's majority shareholders include: o Cost: ₹12,241 crore.  the Government of India (20.85%),  Karnataka:  State Bank of India (15.65%), Life Insurance o Evacuate 4.5 GW RE power from Corporation of India (13.33%), and Koppal area and Gadag area.  National Bank for Agriculture and Rural o The scheme will be completed by June Development (9.36%). 2027.  SIDBI accesses low-cost funds from banks o Cost of the scheme is about ₹1,354 that fall short of their priority sector lending crore. (PSL) targets. 23. India to spend $6 billion on AI by 2027: IDC  SIDBI's growth prospects depend on the reports coverage achieved by scheduled commercial  Estimated by: International Data Corporation banks in meeting their PSL targets. (IDC)  State financial corporations and state  Artificial Intelligence (AI) and Generative AI industrial development corporations among (GenAI) adoption in India will reshape the others lend directly to units in the MSME country’s technological landscape sector.  Expected expenditure: $6 billion by 2027 21. Dr. Jitendra Singh Launches “One Week One  It will grow at a compound annual rate of Theme” (OWOT) Campaign 33.7% from 2022 to 2027.  Union Minister of State (Independent Charge)  IDC predicts that by 2025, 40% of service for Science and Technology Dr. Jitendra Singh engagements will involve GenAI, reshaping launched “One Week One Theme” (OWOT) service delivery in strategy, change campaign management, and training to prepare  Aim: To showcase recent success stories of organizations for AI integration. India in different streams of science and 24. Union Home Minister inaugurated the ‘Fast technology. Track Immigration – Trusted Traveller  Weekly PDF June 2024: Fourth Week Programme’  India needs to take critical actions to  Inauguration of: Fast Track Immigration – transform its electronic sector ecosystem Trusted Traveller Programme from an 'import dependent assembly led  Inaugurated by: Union Home Minister and manufacturing' to 'component level value- Minister of Cooperation Shri Amit Shah added manufacturing'.  Location: Terminal-3 of Indira Gandhi  The Report identifies 5 priority International Airport, New Delhi components/sub-assemblies of batteries  Fast Track Immigration - Trusted Travellers' (lithium-ion), camera modules, mechanicals, Programme (FTI-TTP) has been initiated to displays, and PCBs (Printed Circuit Board) speed up the Immigration clearance process which are categorized as high priority for for eligible persons from the following India. categories:  They cumulatively accounted for 43 per cent  Indian Nationals of the components demand in 2022 and are  Foreign Nationals holding OCI Card expected to grow to USD 51.6 billion by 2030.  Applicant found eligible, will need to provide 27. India ranks sixth globally in deeptech startup Biometrics (fingerprint and face image) in ecosystems addition to required information as per data  Report by: Nasscom-Zinnov study fields provided in the application form.  The report titled ‘India's deeptech dawn:  The enrolment to the programme shall be forging ahead’ done after necessary verifications and  India ranks sixth in the global deeptech fulfilment of eligibility. ecosystem with as home to over 3,600  However, those travellers who may be startups in the deeptech space. required by Law Enforcement Agencies and  Notably, 74 per cent of the deeptech startups Courts to join investigations can be established in 2023 have concentrated on AI, suspended from this programme even after a significant increase from 62 per cent in the enrolment. period from 2014 to 2022  The TTP registration will be valid till the validity of the passport or 05 years whichever 28. India to Launch E-Medical Visa Facility for is earlier and will be renewed thereafter. Bangladesh Nationals  Launch of: E-Medical Visa Facility 25. JP Nadda Launches National STOP Diarrhoea  Launched by: India Campaign 2024  Launched for: Bangladesh Nationals  Launch of: National STOP Diarrhoea  Those who are coming to India for medical Campaign 2024 treatment, India will open a new consulate in  Launched by: Union Minister of Health and Rangpur, Bangladesh, to facilitate services for Family Welfare Jagat Prakash Nadda people in the northwest region of the country.  He launched the campaign by distributing 29. BIS introduces new safety standards for EVs in oral rehydration salts (ORS) and zinc tablets India to children  Introduction of: IS 18590: 2024 and IS 18606:  Date: 1st July to 31st of August 2024 2024  Goal: To attain zero child deaths due to  Aim: To enhance the safety of electric vehicles childhood diarrhoea in the L, M, and N categories.  L refers to two-wheelers, while the M and N 26. India's electronic manufacturing may reach categories correspond to four-wheelers and USD 500 bn by 2030: CII report goods trucks, respectively.  Report by Confederation of Indian Industry  Focus on the main parts of electric cars,  Findings: buses, and trucks, especially the powertrain  In 2023, the demand for components and (which includes parts like the motor and sub-assemblies stood at USD 45.5 billion to transmission) support USD 102 billion worth of electronics  BIS has introduced IS 18294: 2023, which production. establishes safety standards specifically for  This demand is expected to scale to USD 240 these vehicles. billion to support the USD 500 billion worth  These rules make sure that e-rickshaws and electronics production by 2030. E-Karts are built and function safely,  Weekly PDF June 2024: Fourth Week protecting both the drivers and the  Visakhapatnam Port has emerged as India’s passengers. top port for marine products shipments in FY24, handling 3,14,199 tonnes valued at 30. Government Monetises ₹1.56 Lakh Crore in ₹17,983.99 crore ($2,194 million). FY24 under National Monetisation Pipeline  National Monetisation Pipeline (NMP):  Chennai handled 1,01,903 tonnes valued at ₹6,120 crore, while Kolkata managed 94,559  The government monetised assets worth tonnes valued at ₹4,452 crore ₹1.56 lakh crore in the financial year 2023-24  Falling short of the target of ₹1.8 lakh crore. 33. Centre Forms High-Level Committee Of  Aggregate Monetisation Potential: ₹6 lakh Experts To Reform NTA-Conducted Exams crore over FY22 to FY25.  High-Level Committee of Experts to ensure  First Two Years (2021-22, 2022-23): Target the transparent, smooth, and fair conduct of of ₹2.5 lakh crore; achievement of ₹2.30 lakh examinations by the National Testing Agency crore. (NTA)  FY24 Achievement: ₹1.56 lakh crore against a  Constituted by: Ministry of Education target of ₹1.8 lakh crore.  Total members: 7  Ministry-wise Monetisation in FY24  Chaired by: Former ISRO Chairman Dr. K. o Road Transport and Highways: Radhakrishnan ₹40,314 crore Defence o Coal Ministry: ₹56,794 crore 1. INS Sunayna Entered Port Victoria, Seychelles o Power Ministry: ₹14,690 crore  The deployment marks sustained o Mines Ministry: ₹4,090 crore participation of an Indian Military Contingent o Petroleum and Natural Gas: ₹9,587 in military parade organized as part of crore Seychelles National Day since 1976. o Urban Ministry: ₹6,480 crore  INS Sunayna entered Port Victoria, Seychelles o Shipping Ministry: ₹7,627 crore as part of her long range deployment in the 31. Hands-on Training Workshop on e-SAKSHI South West Indian Ocean Region. Portal  INS Sunayna is the second Saryu-class patrol  Hands-on Training Workshop on e-SAKSHI vessel of the Indian Navy, designed and Portal for revised fund flow procedure under constructed indigenously by the Goa Members of Parliament Local Area Shipyard Limited Development (MPLAD) Scheme 2. South Korea, US, And Japan Launch First  Organized by: Ministry of Statistics and Trilateral Multi-Domain Exercise Programme Implementation (MoSPI)  Exercise: Freedom Edge  Date: 20 and 21 June 2024  Held between: South Korea, the US and Japan  Location: New Delhi.  First trilateral multi-domain exercise  Attended by: Representatives from all  Location: South Korea’s southern island of States/UTs and district o