Current Affairs 5th June 2024
Welcome to your one-stop shop for daily news! Today, on Current Affairs 5th June 2024, we’ll be diving into a range of topics that dominated the headlines yesterday. From the ever-growing mountain of global public debt to India’s plans for sustainable development, we’ve got you covered. We’ll also explore the recent record-breaking number of NOTA votes cast in an Indian election, sparking discussions about voter dissatisfaction and potential reforms. So, buckle up and get ready to stay informed!
NATIONAL AFFAIRS
Department of School Education Signed MoU with National Book Trust To Launch Rashtriya E-Pustakalaya
The Department of School Education & Literacy (DoSE&L), Ministry of Education (MoE), Government of India (GoI), and the National Book Trust (NBT) have signed a Memorandum of Understanding (MoU) to establish an institutional framework for Rashtriya e-Pustakalaya, a Digital Library Platform.
This initiative intends to increase the availability of non-academic literature for children and adolescents throughout India.
Note: The NBT is an apex organization formed in 1957 by the Government of India (Department of Higher Education (DHE), Ministry of Human Resource Development (MHRD).
About Rashtriya E-Pustakalaya:
- The Rashtriya E-Pustakalaya intends to address the ‘last mile’ accessibility issue for several states by providing over 10,000 books in more than 100 languages over the next 2-3 years.
- In addition to English, the portal will enable access to over 1,000 non-academic publications produced by over 40 reputable publishers in more than 22 languages. There are already more than 1,000 books accessible in 23 languages, including English.
- The books will be divided into four age categories, as per the National Education Policy (NEP) 2020, for readers ages 3-8, 8-11, 11-14, and 14-18.
- The Rashtriya e-Pustakalaya app will be accessible to download on both Android and iOS smartphones.
- It also includes the availability of books in a variety of genres, including adventure and mystery, humor, literature and fiction, classics, nonfiction and self-help, history, biographies, comics, picture books, science, poetry, and more.
- This project is consistent with the concept of Vasudhaiva Kutumbakam, which emphasizes inclusion and cultural harmony.
- This digital platform will allow readers to access books at any time, regardless of location.
Click here to read from source
Gati Shakti Vishwavidyalaya Signed Three MoUs For Industry-Academia Collaboration
Gati Shakti Vishwavidyalaya (GSV) has inked three Memorandums of Understanding (MoUs) with Nokia Corporation, Plasser (India) Private Limited, and Jacobs Solutions Inc. to boost industry-academic collaboration.
GSV in Vadodara, Gujarat, is a Central University under the Ministry of Railways.
Key People: The MoU was signed in the presence of Ashwini Vaishnaw, Union Minister of Railways and First Chancellor of GSV, and Jaya Varma Sinha, Chairperson and Chief Executive Officer (CEO) of the Railway Board, at Rail Bhawan in New Delhi.
MoU with Nokia:
Signatories: Professor Manoj Choudhary, Vice-Chancellor (VC) of GSV, and Raghav Sahgal, Nokia’s President of Cloud and Network Services.
About the MoU:
- The MoU with Nokia will focus on research collaboration in the realm of 5G/6G communications targeting air, land, and sea transportation use cases, such as standards development, smart factory/automation, and AI/Generative Artificial Intelligence (GenAI) labs.
- The collaboration’s research focus is on exploiting Nokia’s network as code platform with developer portal and digital twins for the transportation and logistics industries, fiber sensing and AI, and optical network planning.
MoU with Plasser India:
Signatories include Manoj Choudhary, VC of GSV, and Siegfried Fink, Managing Director (MD) of Plasser India.
About the MoU:
Under this MoU, Plasser and GSV will collaborate on research, teaching, and student training to expand their expertise of rail-related subjects.
This relationship will result in the development of academic curricula and executive programs.
They will also look at possible synergies for joint research, partnerships with overseas institutes, and internship and placement options for GSV students.
MoU with Jacobs:
Signatories: GSV’s VC, Manoj Choudhary, and Jacobs’ Vice President and Whole-time Director, Anil Relan.
About the MoU:
- The MoU with Jacobs will help develop research, teaching, and training activities in the transportation, rail, and semiconductor sectors.
- This will also help to construct centers of excellence (CoEs) in semiconductors, electronics manufacturing, and railroads, as well as the creation of labs.
Key Points:
These MoUs are projected to provide a substantial number of job opportunities in India as the transportation, logistics, and telecommunications industries, as well as semiconductor manufacturing, expand rapidly.
About Gati Shakti Vishwavidyalaya (GSV):
Parliament passed an Act establishing GSV in 2022. GSV is India’s first transportation university. It was originally known as the National Rail and Transportation Institute.
- Chancellor – Ashwini Vaishnaw (Union Minister of Railways)
- Headquarters – Vadodara, Gujarat
Click here to read from source
INTERNATIONAL AFFAIRS
Key Highlights of 77th World Health Assembly held in Geneva, Switzerland
The 77th World Health Assembly (WHA 77) was held in Geneva, Switzerland from May 27th to June 1st, 2024.
The theme for the 2024 World Health Assembly is “All for Health, Health for All”.
Apurva Chandra, Secretary, Ministry of Health and Family Welfare (MoHFW), represented India at the WHA 77.
The World Health Assembly is the decision-making body of the World Health Organization (WHO). It is attended by delegates from all 194 WHO Member States.
Points to note:
- The National Institute of Mental Health and Neuro Sciences (NIMHANS) in Bengaluru (Karnataka) has received the WHO Nelson Mandela Award for Health Promotion for 2024.
- WHA 77 unanimously accepted numerous revisions to the International Regulations 2005 (IHR 2005), based on 300 requests submitted by member states following the COVID-19 Pandemic.
- In Geneva, Switzerland, India co-hosted a side event on Women, Children, and Adolescent Health with Norway, the United Nations Children’s Fund (UNICEF), the United Nations Population Fund (UNFPA), and the Partnership for Maternal, Newborn, and Child Health (PMCH).
- WHO issued a Strategic framework for promoting the prevention and control of monkeypox (2024-2027).
Click here to read from source
BANKING & FINANCE
SEBI Launched “Saa₹thi 2.0” Mobile App on Personal Finance for Investors
On June 3, 2024, the Securities Exchange Board of India (SEBI) announced the “Saa₹thi” (SAARTHI) 2.0″ mobile application on personal finance for investors. The software offers a user-friendly layout with comprehensive capabilities designed to clarify difficult financial topics.
About Saarthi 2.0:
- The software has financial calculators and modules that teach Know Your Customer (KYC) procedures, mutual funds, and Exchange Traded Funds (ETFs).
- This program allows investors to purchase and sell shares on stock exchanges.
- It provides a process for resolving investor issues, as well as an Online Dispute Resolution platform.
- It also includes a number of films created exclusively to assist investors with their own finances.
Note: The “Saa₹thi” (SAARTHI) app is available on both Google Play and the iOS App Store.
SEBI imposed penalty on Samco Securities Limited for lapses in the customer onboarding process.
- SEBI has levied a Rs 2.5 lakh penalty on Samco Securities Limited, a SEBI-registered stock broker, for claimed anomalies discovered during the customer onboarding process and failure to submit data to the SEBI’s inspection team.
- In just three years, Samco has been found in breach of rules for a third time.
Furthermore, the company was first penalized in May 2022 with a fine of Rs 2 lakhs, followed by another penalty of Rs 7 lakhs in August 2023.
Background:
SEBI has conducted an assessment of Samco’s documentation and records to determine probable violations of the SEBI Act 1992 and the SEBI (Stock Brokers) Regulations 1992.
The study covered the period from April 1, 2022 until May 31, 2023.
Details of the penalty:
|
Penalty provisions |
Penalty (Rs) |
|
Section 15HB of the SEBI Act |
Rs 1.5 lakhs |
| Section 15A(a) of the SEBI Act |
Rs 1 lakhs |
| Total |
Rs 2.5 lakhs |
Online Bond Platform formed OBPP Association of India
Around 24 online bond platforms created the Online Bond Platform Providers (OBPP) Association of India to represent the business, encourage retail involvement in domestic debt markets, and communicate with authorities.
Note: OBPP is a SEBI-registered platform for bond buying and selling. It works as a middleman, providing investors with bond investment options and facilitating seamless transactions.
Composition of OBPP Association:
- A meeting held on May 28, 2024, at the NSE’s office in Mumbai, Maharashtra, saw the formation of the executive committee of the OBPP Association of India.
- Subsequently, Aditi Mittal, the Co-founder and Director of IndiaBonds, was appointed Chairman of the OBPP Association. F
- ollowing that, Vivek Darak of Bondbazaar was named Vice-Chairperson of the OBPP Association.
- Other members include representatives from bond platforms such as Fixed Income, Wint Wealth, and Grip Invest, among others.
Background:
- In November 2022, SEBI implemented a regulatory framework for OBPP and revised the NCS (Issue and Listing of Non-Convertible Securities Regulations), 2021.
- In November 2023, SEBI prohibited OBPP from marketing any products other than listed debt securities on their platforms.
- It enabled them to issue securities such as Government Securities (G-secs), Treasury Bills, and Listed Sovereign Gold Bonds.
About Securities and Exchange Board of India (SEBI):
- Chairman- Madhabi Puri Buch
- Headquarter- Mumbai, Maharashtra
- Established– 1992
Click here to read from source
Adani One & ICICI Bank Jointly Launched 2 Variants of Co-branded Credit Cards
Adani One and ICICI Bank have collaborated with Visa to introduce India’s first co-branded credit cards with airport-linked advantages. The cards will be offered in two versions: Adani One ICICI Bank Signature Credit Card and Adani One ICICI Bank Platinum Credit Card.
This agreement intends to provide clients with incentives and perks across the Adani Group’s consumer network, while also increasing ICICI Bank’s credit card portfolio.
Note: Adani One is the Adani Group’s digital platform.
Key Features:
The Signature Credit Card’s rewards program allows consumers to earn:
Earn up to 7% Adani reward points for spending inside the Adani Group ecosystem, such as the Adani One app, Adani airports, Adani power bills, train reservations, and so on.
Other domestic and foreign purchases are eligible for up to 2% off.
The Platinum Credit Card’s rewards scheme allows consumers to earn:
The card offers a flat 3% Adani Reward Points on Adani One, Adani-managed Airports, Trainman, and more. International spends earn 1.5% Adani Reward Points. The Signature card has an annual fee of Rs 5,000 and Rs 9,000 in joining benefits, while the Platinum card has an annual fee of Rs 750 and Rs 5,000.
Benefits:
Other benefits include access to premium lounges, complimentary aircraft tickets, the Pranaam Meet & Greet service, duty-free outlet and airport savings, free movie tickets, and food discounts, among other things.
The cards also provide benefits such as buy one, get one free movie tickets and a 1% fuel surcharge waiver, among others.
Adani Reward Points:
Cardholders will be able to earn Adani Reward Points if they fulfill the qualifying retail spending transaction conditions set by ICICI Bank from time to time.
About ICICI Bank Ltd.:
- MD & CEO– Sandeep Bakhshi
- Headquarters– Mumbai, Maharashtra
- Founded in 1994
- Tagline– Hum Hai Na, Khayal Apka
Click here to read from source
RBI Cancels 10-Year Green Bond Auction For the 1st Time Due to Lack of Greenium (Current affairs 5th June 2024)
- The Reserve Bank of India (RBI) canceled the planned auction of 10-year green bonds after dealers refused to pay the greenium. The cancelation due to the absence of a “greenium” reflects investors’ unwillingness to accept lower rates.
- The cancelation of the green bond sale for 2024-25 is the first such auction since green bond sales began in January 2023.
- The government intends to issue green bonds totaling Rs 12,000 crore in the first half of the current fiscal year (2024-2025), a departure from the customary practice of issuing bonds in the second half.
- Bids ranged from 7% to 7.06% (yield), which exceeded the RBI’s allowed rate. The benchmark bond yield was roughly 6.99% at the time of bidding.
The proceeds from the issuance of green bonds will be used to fund public-sector programs that aim to reduce the economy’s carbon impact.
Note:
- After missing auctions from April to September 2023, the government generated 200 billion rupees through green bond sales over the remainder of fiscal 2024 at rates that were 1-2 basis points (bps) lower than the market rate.
- A “greenium” refers to the lower return that investors often accept for green bonds designed to support ecologically beneficial initiatives.
Click here to read from source
Axis Bank & Mastercard Collaborates to Launch NFC Soundbox (Current affairs 5th June 2024)
Axis Bank, one of India’s leading private sector banks, has teamed with Mastercard, an American multinational payment card services business, to create the NFC Soundbox solution, an industry-first offering for merchants.
The NFC Soundbox, an all-in-one solution, will allow users to accept payment methods such Bharat Quick Response (QR), Unified Payments Interface (UPI), Tap & Pay, and Tap + Pin payments.
With this introduction, Axis Bank will be the first bank in India to provide a Soundbox that accepts Tap + Pin payments. It allows transactions of more than Rs 5000 using card instruments.
This will increase card payment acceptance among small retailers, provide cost-effective solutions and smooth transaction experiences, and enable fast and secure contactless card payments.
Features:
- Dual confirmation function with audible signals from the speaker and visual feedback on the screen in over seven languages.
- The gadget will be equipped with 4G + Wi-Fi capabilities, ensuring enhanced connectivity and smooth transaction processing.
- It will be available through major payment networks such as Visa, RuPay, and American Express.
Click here to read from source
Axis Bank & Bajaj Allianz General Insurance Entered Bancassurance Partnership (Current affairs 5th June 2024)
Axis Bank Limited, a private sector bank, and Bajaj Allianz General Insurance Company Limited, a private general insurer, have engaged into a strategic bancassurance relationship to increase insurance penetration and financial inclusion in India.
- Bancassurance is an agreement between a bank and an insurance business that allows the insurance company to offer its products to the bank’s customer base. This agreement may be advantageous for both firms.
Under this partnership, Axis Bank will distribute a comprehensive suite of Bajaj Allianz General Insurance products, including personal insurance products such as motor insurance, health insurance, home insurance, travel insurance, and commercial insurance products such as engineering and marine insurance, through its network of over 5,250 branches.
- This agreement will alter the insurance landscape by combining Bajaj Allianz General Insurance’s comprehensive array of insurance solutions with Axis Bank’s large customer base and distribution network.
This partnership is a critical step toward increasing financial inclusion and creating a more secure future for individuals, families, and enterprises throughout India.
Click here to read from source
APPOINTMENTS & RESIGNATIONS
Claudia Sheinbaum Pardo Elected as 1st Female President of Mexico (Current affairs 5th June 2024)
Claudia Sheinbaum Pardo of the Morena Party was elected as the United Mexican States’ (Mexico) first female president on June 3, 2024. She will succeed her political mentor, Andrés Manuel López Obrador, who has served as Mexico’s President since 2018.
Claudia Sheinbaum will be officially inaugurated in as Mexico’s 66th President for a six-year term on October 1, 2024.
She will also become Mexico’s first Jewish head of state.
Sheinbaum is also the first woman to win a general election in the United States of America (USA), Mexico, and Canada.
Key Points:
- Sheinbaum won the election with 58.3-60.7% of the vote. This is the largest vote share in Mexico’s democratic history.
- She beat Xóchitl Gálvez, who earned between 26.6% and 28.6% of votes, and Jorge Álvarez Máynez, who received between 9.9% and 10.8% of votes.
About Claudia Sheinbaum Pardo:
- Claudia Sheinbaum Pardo, a Mexican politician, scientist, climate activist, and professor, started her political career in 2000.
- After being elected mayor of Mexico City in 2000, López Obrador named her as the city’s environment minister.
- In 2006, she joined the United Nations’ Intergovernmental Panel on Climate Change (IPCC), which went on to win the Nobel Peace Prize in 2007.
- The IPCC and Albert Gore Jr. were awarded the Nobel Peace Prize in 2007 for their work to increase awareness of man-made climate change and develop counter-measures
- She was chosen as the first woman to lead Mexico City’s Tlalpan district in 2015, and she served until 2017.
- In 2018, she became the first woman elected Mayor of Mexico City. She held this position until 2023.
About Mexico:
- President- Andrés Manuel López Obrador
- Capital- Mexico city
- Currency- Mexican Peso (MXN)
Click here to read from source
Click here to read: Current Affairs 4th June 2024
SCIENCE & TECHNOLOGY
China’s Chang’e-6 Lunar Probe Soft Landed on Moon’s Far Side & Takes Off With 1st Samples From Lunar Far Side (Current affairs 5th June 2024)
On June 2, 2024, the China National Space Administration’s (CNSA) Chang’e-6 lunar probe made a soft landing on the moon’s far side to collect and return samples from the seldom explored far side of the moon, a first in human lunar exploration history.
Chang’e-6, accompanied by the Queqiao-2 relay satellite, landed in the South Pole-Aitken (SPA) Basin, specifically the Apollo Basin crater.
On June 4, 2024, the ascender of the Chang’e-6 probe successfully ascended from the lunar surface, carrying rock and soil samples collected on the moon’s far side.
Click here to read from source
‘PraVaHa’: ISRO Develops CFD Software For Aerodynamic Design and Analysis (Current affairs 5th June 2024)
The Indian Space Research Organisation (ISRO) developed a Computational Fluid Dynamics (CFD) program called PraVaHa, which stands for Parallel RANS Solver for Aerospace Vehicle Aero-thermo-dynamic Analysis.
This development took place at ISRO’s Vikram Sarabhai Space Centre (VSSC), located in Trivandrum, Kerala.
About PraVaHa:
It can mimic exterior and interior flows on launch vehicles, as well as winged and non-winged reentry vehicles.
It simplifies early aerodynamic design studies by assessing several configurations, which is critical for optimizing vehicle performance and safety.
The PraVaHa code is operational to model airflow for Perfect Gas and Real Gas circumstances, and validations are underway to mimic the influence of chemical processes that occur during air dissociation on ‘earth re-entry’ and ‘combustion’ as in scramjet vehicles.
We are planning to replace the majority of the CFD simulations for aero characterisation currently performed using commercial software.
To achieve this, we will leverage both Central Processing Unit (CPU) and Graphics Processing Unit (GPU) designs. This approach will ensure interoperability with current and future supercomputing facilities and foster collaboration with academic and governmental organizations.
The Gaganyaan program has employed PraVaHa for aerodynamic study of human-rated launch vehicles such as the Heavy Lift Launch Vehicle Mark-3 (HLVM3), Crew Escape System (CES), and Crew Module (CM).
ISRO advances toward Atma Nirbhar India by making PraVaHa available to a larger portion of society.
About Computational Fluid Dynamics (CFD):
Computational Fluid Dynamics (CFD) is a method for predicting aerodynamic and aerothermal loads by numerically solving the mass, momentum, and energy conservation equations, as well as the equation of state.
It has evolved sufficiently to provide high accuracy and rapid simulations for aerospace issues such as high pressure and extreme heat flux.
About Indian Space Research Organisation (ISRO)
- Chairman – Sreedhara Panicker Somanath
- Headquarters – Bengaluru, Karnataka
- Established in – 1969
Click here to read from source
ESA Launched EarthCARE to Study the Role of Clouds & Aerosols in Earth’s Climate (Current affairs 5th June 2024)
On May 29, 2024, the European Space Agency (ESA) launched the EarthCARE (Earth Cloud Aerosol and Radiation Explorer) satellite on SpaceX’s Falcon 9 rocket from the Vandenberg Space Force Base in California, the United States of America (USA).
EarthCARE, a collaboration between ESA and the Japan Aerospace Exploration Agency (JAXA), will investigate how clouds and aerosols impact the Earth’s climate.
It was developed and built by a collaboration of over 75 businesses, with Airbus as the primary contractor.
About EarthCARE:
-
EarthCARE investigates clouds and aerosols reflecting solar radiation and trapping Earth’s infrared emissions.
- This data is critical to understanding and preventing climate change.
- Aerosols are microscopic particles floating in the Earth’s atmosphere, including dust and toxins.
-
EarthCARE deploys four advanced sensors, directly measuring cloud-aerosol-radiation interactions.
- Cloud Profiling Radar. The cloud profiling radar, developed by JAXA, is the world’s first radar to monitor the velocity of upward and downward movement within clouds.
- It gives information on the vertical structure and internal dynamics of clouds.
- Atmospheric Lidar provides profiles of aerosols, thin clouds, and cloud top information.
- The multispectral imager gathers wide-scene images in several wavelengths.
- Broadband Radiometer: It measures reflected solar and infrared radiation from Earth.
- Current Status: EarthCARE is managed from ESA’s European Space Operations Centre in Darmstadt, Germany.
- The satellite is now in a commissioning phase, which involves testing and calibrating its systems.
- This mission advances climate models, predicts future scenarios, and clarifies Earth’s energy balance.
About European Space Agency (ESA):
It is an international organization founded in 1975 that serves as Europe’s gateway to space.
- Director General– Dr. Josef Aschbacher
- Headquarters– Paris, France
Click here to read from source
ENVIRONMENT
Paraparatrechina neela: New Blue Ant Species Discovered From Siang Valley in Arunachal Pradesh (Current affairs 5th June 2024) (Current affairs 5th June 2024)
In the isolated Siang Valley of Arunachal Pradesh, researchers found a new ant species known as Paraparatrechina neela. The term neela, which means blue in various Indian languages, was derived from its distinctive blue coloration. The metallic-blue body distinguishes it from all other known Paraparatrechina species.
This finding is the first new species of Paraparatrechina in 121 years.
The new species’ results were published in ZooKeys, a peer-reviewed magazine.
The only other known species, P. aseta, was discovered in 1902 on the Indian subcontinent.
Genus and Species:
Genus: Paraparatrechina; species: neela.
- Paraparatrechina is a genus of little ants that are 1-2 millimeters (mm) in length and belong to the Formicinae subfamily.
- These ant species are often found in the Afrotropical, Australasian, Indo-Malayan, Oceanian, and Palearctic biogeographic zones.
- Currently, Paraparatrechina has 38 legitimate species and 4 valid subspecies. The Indomalayan biogeographic area has 14 recognized species.
- neela’s distinctive metallic blue coloration is not found in any other species in this genus.
Characteristics:
- neela possesses an opaque, metallic blue body with exceptions for antennae, mandibles, and legs.
- Tiny (under 2mm), it has enormous eyes relative to its head.
- The skull is subtriangular, with strongly convex lateral borders, and a triangular mandible with 5 teeth.
Discovery Details:
The finding was made by entomologists Dharma Rajan Priyadarsanan and Ramakrishnaiah Sahanashree from the Ashoka Trust for Research in Ecology and the Environment (ATREE) in Bengaluru (Karnataka), as well as Aswaj Punnath from the University of Florida (USA).
Note: P.neela was collected at a height of 803 meters.
Click here to read from source
SPORTS
Kedar Jadhav Announces Retirement From All Forms Of Cricket (Current affairs 5th June 2024)
On June 3, 2024, Kedar Jadhav, an Indian cricketer, announced his retirement from all forms of cricket at the age of 39.
He made his international debut for India in a One Day International (ODI) against Sri Lanka at Ranchi, Jharkhand, in November 2014.
The Maharashtra batsman amassed 1,389 ODI runs (avg. 42.09) with 2 centuries and 6 fifties, adding 122 T20I runs in 6 innings. He captained the Kolhapur Tuskers in the Maharashtra Premier League, which began on June 2, 2024, in Pune.
Debuting for Delhi Daredevils (now Capitals), he donned CSK, KRK, SRH, and RCB jerseys.
After the 2019 World Cup, Jadhav’s last ODI was for India in Auckland on February 8th, 2020.
Click here to read from source
IMPORTANT DAYS
International Day of Innocent Children Victims of Aggression 2024 – June 4 (Current affairs 5th June 2024)
Every year on June 4th, the United Nations observes the International Day of Innocent Children Victims of Aggression. This day serves to acknowledge the suffering endured by children worldwide – children who have been victims of physical, mental, and emotional abuse.
This Day began with an emphasis on the victims of the 1982 Lebanon War, as well as Palestinian children who were victims of Israel’s violence.
Background:
- UN Assembly enacted resolution on Aug 19, 1982 making June 4 International Day for Child Victims of Aggression.
- On June 4, 1983, the world commemorated the inaugural International Day of Innocent Children Victims of Aggression.
Click here to read from source
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