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CURRENT AFFAIRS : BANKING & FINANCE

ICICI Lombard & ICICI Prudential Life Insurance jointly launched combi product ‘ishield’

• ICICI Lombard General Insurance and ICICI Prudential Life Insurance have jointly launched a combi product, ‘iShield’, which will provide customers with both health and life insurance under the “use and file”

About ‘iShield’ :

• “iShield is a one-of-its-kind offering that is synergistic in capabilities and shares the brand values of ICICI Prudential Life Insurance and ICICI Lombard.”
• iShield, will enable customers to take care of expenses required for medical treatments.
• Besides, it will also provide a lump sum amount to the family in case of the unfortunate demise of the
• The health insurance component covers expenses related to hospitalisation, day-care treatments, pre and post hospitalisation, and homecare treatment,
• The life insurance cover will continue till the age of 85 ensuring the family has sufficient financial resources to continue with their lives.
• Customers can easily purchase this solution by filling in a single application and undergoing a medical check-up.
• Besides the vast agent network, multiple easy-to-use touchpoints such as the company website or the mobile app will provide customers a hassle-free purchase and premium payment experience.

About ICICI Lombard General Insurance Company Limited :

• Founded : 2001
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Bhargav Dasgupta
• It is a joint venture between ICICI Bank- India’s second largest bank and Fairfax Financial Holdings Limited– a financial services company based in Toronto.
• ICICI Bank had 64% stake in the venture while Fairfax had 36% in the joint venture.

About ICICI Prudential Life Insurance :

• Founded : 2000 (started its operations in 2001)
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Anup Bagchi
• It is established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited.
• In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.

CURRENT AFFAIRS: NATIONAL NEWS

India’s first-ever report on Critical Minerals for India is unveiled by the Union Minister of Mines Pralhad Joshi:

• Union Minister of Mines, Pralhad Joshi, has unveiled India’s first-ever report on Critical Minerals for India.
• The report identifies 30 critical minerals essential for sectors including defence, agriculture, energy, pharmaceuticals, and telecom.
• This comprehensive list marks a milestone in India’s pursuit of self-reliance and security in mineral resources, aligning with the vision of achieving ‘Net Zero’ targets.
• Mr Joshi highlighted the country’s inclusion as the newest partner in the Mineral Security Partnership during Prime Minister Narendra Modi’s recent visit to the United States.
• The list aims to guide policy formulation, strategic planning, and investment decisions in the mining sector.

The National Research Foundation Bill, 2023, has received approval from the centre

• The union government has decided to bring the National Research Foundation (NRF) Bill, 2023 to strengthen the research ecosystem in the country.
• The Bill approved by the Union Cabinet will pave the way to establish NRF to seed, grow and promote research and development and foster a culture of research and innovation throughout India’s universities, colleges, and research institutions.
• The Minister informed that the bill has a provision to establish NRF, an apex body to provide high-level strategic direction of scientific research in the country at a total estimated cost of 50 thousand crore rupees during the next five years.
• The Bill will repeal the Science and Engineering Research Board (SERB) established by an act of Parliament in 2008 and subsume it into NRF which has an expanded mandate and covers activities over and above the activities of SERB.
• The NRF will forge collaborations among the industry, academia, and government departments and research institutions, and create an interface mechanism for participation and contribution of industries and state governments in addition to the scientific and line ministries.

About NRF

• CEO: Matthew R. Shay
• Headquarters: Washington, D.C., United States
• Founded: June 1911
• President: Matthew R. Shay

The union government has asked banks to increase financing for MSMEs to meet a one trillion-dollar merchandise export objective by 2030.

• The Commerce and Industry Minister Piyush Goyal has asked the Indian banks to ensure enhanced and affordable credit to MSMEs to achieve the target of one trillion dollar merchandise exports by 2030.
• Mr Goyal stated this in a meeting called to discuss the issue of increasing the availability of export credit to the MSME exporters.
• It was attended by the top officials of 21 banks including State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India, Bank of India and Central Bank of India.
• Export Credit Guarantee Corporation Limited can examine the extension of the scheme proposed for nine banks, to all the banks, so that the export credit offtake for the MSME Exporters can be increased.
• He advised the banks to take advantage of the scheme and extend adequate and affordable export credit to MSME exporters and this will enable the country to achieve its target of one trillion dollar merchandise exports by 2030.

A Tunnel to save mangroves to raise bullet train project cost to ₹10,000 crore in Maharashtra

• A seven-km undersea tunnel will be constructed for the bullet train project to save mangrove forests in Maharashtra.
• The tunnel will be a single tube tunnel to accommodate both up and down tracks.
• The tunnel construction is aimed towards conserving nearly 12 hectares of mangroves in the creek.
• This will escalate the construction cost of the Mumbai-Ahmedabad High-Speed Rail Corridor project’s 21-km long stretch from ₹100 crores to ₹10,000 crores.
• The tunnel will ensure the protection of the bird sanctuary and mangroves around Thane Creek.
• The undersea tunnel will escalate the construction cost of the Mumbai-Ahmedabad High-Speed Rail Corridor project’s 21-km long stretch from Bandra Kurla Complex Station to Shilphata.
• The National High-Speed Rail Corporation Limited (NHSRCL) recently signed a contract with Afcons for constructing India’s first undersea rail tunnel, which is part of a 21-kilometre-long tunnel for the Mumbai-Ahmedabad bullet train project.
• The undersea tunnel at Thane Creek will be seven-kilometres-long and around 25 to 65 metres below the ground level.
• Sixteen kilometres of the tunnel will be executed using TBMs and five kilometres will be constructed with the new Austrian Tunnelling Methodology.

National Pension Scheme: PFRDA plans to bring in a systematic withdrawal plan

• Pension Fund Regulatory and Development Authority (PFRDA) intends to introduce a plan during the second half of this fiscal, to allow the subscribers of the National Pension Scheme (NPS) to withdraw 60% of the accumulated corpus systematically instead of the current system of a one-time withdrawal.
• As per the proposal, NPS subscribers would be allowed to systematically withdraw 60% of their corpus post-retirement up to the age of 75, instead of the current system of one-time withdrawal, while 40% has to be invested in annuity.
• Currently, National Pension Scheme (NPS) subscribers after turning 60 years withdraw up to 60 per cent of the retirement corpus as a lump sum while the remaining 40 per cent of the corpus mandatorily goes into buying an annuity.
• The amount can be fixed by the subscriber any number of times and it can be withdrawn in lumpsum or on a monthly, quarterly, half-yearly or annual basis.
• It applies to those in the age group of 60 to 75.

India, UAE set a target of doubling non-oil bilateral trade to $100 billion by 2030

• India and the UAE have set a target of doubling non-oil bilateral trade to $100 billion by 2030 from $48 billion at present.
• Goyal and the UAE’s Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, decided to revise the target from the earlier goal of an overall bilateral trade of $100 billion by 2030 at the first meeting of the Joint Committee of the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
• On the proposed rupee-dirham trade, Goyal pointed out that discussions were progressing at a fast pace.
• The RBI and the Central Bank of the UAE have been in active dialogue.
• The Finance Ministry is also supportive of the issue.
• The UAE Minister pointed out that in the first 12 months of the CEPA, bilateral non-oil trade reached $50.5 billion, which was 5.8 per cent higher than the corresponding period a year earlier.
• The CEPA was benefitting Indian exports from sectors such as textiles, agriculture products, footwear, automobiles, gems and jewellery, while UAE exporters were increasing shipments of iron and steel, aluminium, and polymers,
• The UAE is the principal supplier of petroleum products to India and is also a large consumer of refined petroleum products.

CURRENT AFFAIRS : INTERNATIONAL NEWS

India removed from UNSG report on impact of armed conflict on children

• The United Nations Secretary-General Antonio Guterres has removed India from his annual report on the impact of armed conflict on children, citing “measures taken by the government to better protect” them.
• Guterres also acknowledged India’s technical mission and a workshop on strengthening child protection.
• India had been included in the report since 2010, alongside other countries, including Burkina Faso, Cameroon, the Lake Chad Basin, Nigeria, Pakistan and the Philippines.
• Initially, India was included on the list due to allegations of the recruitment of young boys by armed groups in Jammu and Kashmir and the detainment of boys by the security forces on grounds of association with armed groups.

CURRENT AFFAIRS : STATE NEWS

India’s 1st ‘Police Drone Unit’ launched in Chennai for aerial surveillance

• The Greater Chennai City Police (GCP) launched India’s first ‘Police Drone Unit’ for aerial surveillance over vast areas and quick detection of criminal activities.
• Director General of Police (DGP) and Head of Police Force C. Sylendra Babu inaugurated the newly-created special unit at Besant Avenue, Adyar, Chennai, Tamil Nadu (TN).
• The unit was established at a cost of Rs 3.6 crore.

About ‘Police Drone Unit’ :

• The unit, which has a total of 9 drones under 3 categories — Quick Response Surveillance drones, heavy-lift multirotor drones, and Long Range Survey wing plane and 20 trained police personnel.
• These drones are equipped with built-in artificial intelligence (AI) facilities and can be operated up to 10km from the ground station.
• Currently, the drones are operated around Marina and Elliots beaches.

Uses :

• The drones have a thermal object imaging facility and will detect if any suspect has a knife or some other objects on his body.
• Using this facility, night patrolling will become much easier and based on information provided by drones, the suspects could be caught easily.
• The drones will be used to monitor movements at isolated places as well as uniting anti-social elements.
• Also drones could be used to read the number plates of vehicles.

Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy Launched Jagananna Amma Vodi Scheme To Disburse Financial Aid Of Rs 6,393 Crores

• Andhra Pradesh (AP) Chief Minister (CM) Y S Jagan Mohan Reddy launched the ‘Jagananna Amma Vodi’ scheme for the fourth year, under which financial assistance of Rs 6,393 crore will be deposited into the bank accounts of 43 lakh beneficiaries, at Kurupam in Parvathipuram Manyam district, AP.

Objective :

• To provide financial assistance to the mother or recognized guardian of those children who belong to the below poverty line category.

Key Highlights :

• Spanning 10 days, Amma Vodi will be distributed in all the mandals benefiting more than 83 lakh students studying in classes 1 to 12 across AP.
• Under the Amma Vodi scheme, eligible mothers who send their children to schools will receive Rs 15,000 financial aid to meet the educational expenses.
• The Government of AP has credited a total of Rs 26,067 crore under Jagananna Amma Vodi scheme, including Rs 6,393 crore disbursal set in motion on June 28, 2023.

About Amma Vodi scheme :

• Jagananna Ammavodi was launched by Chief minister of Andhra Pradesh Y. S. Jagan Mohan Reddy on 9 January 2020.

Eligibility of the Scheme :

• The student must belong to below the poverty line category.
• The student must be a permanent and legal resident of Andhra Pradesh state.
• Students must have a working Aadhar card number.
• The student must have a white ration card.
• The student must have a working and eligible PAN card.
• The initial eligibility criteria which included 75% of mandatory attendance was relaxed due to COVID-19 pandemic.
• Students studying in all the government, private aided, private unaided and residential schools/junior colleges are eligible to avail the scheme whereas dropouts, income tax payers and government employees have been considered ineligible.

About AP :

• Governor: S. Abdul Nazeer
• Chief minister: YS Jagan Mohan Reddy
• National Park : Papikonda National Park, Rajiv Gandhi (Rameshwaram) National Park, Sri Venkateswara National Park
• Wildlife Sanctuaries : Coringa Wildlife Sanctuary, Kambalakonda Wildlife Sanctuary, Krishna Wildlife Sanctuary, Gundla Brahmeswaram Wildlife Sanctuary

India’s biggest natural arch formed 184 million years ago founded in Odisha by GSI

• A team of the Geological Survey of India (GSI) discovered India’s biggest natural arch during their survey of coal in Kenduadihi block in Odisha’s Sundargarh district.
• The state unit of the GSI has proposed to declare the ‘Natural Arch’ in the Kanika range of Sundargarh forest division, a Geo Heritage Site.
• If it is done, it will be the biggest natural arch of the country to have the Geo Heritage tag.
• Currently, India has two other natural arches – one located in the Tirumala hills of Tirupati and the other in the Andaman and Nicobar Islands, but both are smaller than the one in Sundargarh.

About Sundargarh Natural Arch :

• The Sundargarh natural arch, present in the ferruginous sandstone of the Upper Kamthi formation, dates back to about 184 to 160 million years in the lower to middle Jurassic age.
• The arch has an oval-shaped arch and has a length of 30 metres at the base and is 12 metres high.
• The alcove of the natural arch has a maximum height and width of 7 metres and 15 metres, respectively.
• These structures indicate a high-energy fluvial environment during the process of sedimentation.

What is a natural arch?

• A natural arch is a natural landform where an arch has formed with an opening underneath.

Formation of natural arch :

• It could be formed due to fault activities and nature of lithotype which have enhanced the process of sub-aerial weathering over a long period.

What is a Geo Heritage Site ?

• Geo heritage sites are sites of rare and unique geological, geo-morphological, mineralogical, petrological, and paleontological significance, including caves and natural rock sculptures of national and international interest.
• GSI declares geo-heritage sites/ national geological monuments for protection and maintenance.

List of Geo Heritage sites in India

About GSI :

• Founded : 4 March 1851
• Headquarters : Kolkata, West Bengal, India
• Director General : Janardan Prasad
• Parent Government agency : Ministry of Mines
• It is one of the oldest of such organisations in the world and the second oldest survey in India after Survey of India (founded in 1767).

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Senior bureaucrat Shiv Das Meena appointed as the new Chief Secretary of Tamil Nadu

• The Tamil Nadu (TN) government has appointed senior bureaucrat Shiv Das Meena as the next Chief Secretary of TN.
• He will take charge as the 49th chief secretary of TN.
• Meena will take over as Chief Secretary from V Irai Anbu, who is retiring from service on June 30,2023.

About Shiv Das Meena :

• Meena is an 1989 batch Indian Administrative Service (IAS) officer hails from Rajasthan.
• He began his career as an assistant collector in Kanchipuram in TN.
• He had helmed Metrowater, TAHDCO, Medical Services Corporation as managing director, and executive director of Tamil Nadu Electricity Board.
• He was also commissioner of commercial taxes, agriculture, civil supplies and consumer protection departments after late chief minister J Jayalalithaa returned to power in 2011.
• He was serving as the Secretary of the Municipal Administration and Water Supply (MAWS) Department after his return from central deputation in 2021.
• He joined the Ministry for Housing and Urban Affairs (MoHUA) as Joint Secretary and was later promoted to Additional Secretary.
• Subsequently, he served as the chairman of the Central Pollution Control Board (CPCB).

About Tamil Nadu :

• Governor: Ravindra Narayan Ravi
• Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park : Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park
• Wildlife Sanctuaries : Kalakad Wildlife sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird Sanctuary
• Tiger Reserve : Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve

Gernot Dollner take charge as New Audi CEO, succeeds Markus Duesmann                                    

• German luxury car brand Audi has appointed Gernot Dollner as new Chief Executive Officer (CEO) of the Board of Management, effective September 1, 2023.
• He will take over Markus Duesmann.

About Gernot Dollner :

• Gernot Dollner joined Volkswagen as a Ph.D. candidate in 1993 and subsequently served in a number of management roles at Porsche, including as head of Concept Development and head of the Panamera Series.
• Since 2021, he has overseen the Volkswagen Group’s Product and Group Strategy and the General Secretariat.

CURRENT AFFAIRS: RANKING AND INDEX

The “Metabolic Noncommunicable Health Report of India-the ICMR-INDIAB National Cross-sectional Study” has revealed updated national figures for non-communicable diseases.

• The new national estimates for non-communicable diseases (NCDs)- “Metabolic non-communicable health report of India-the ICMR-INDIAB National Cross-sectional Study” was recently released.
• The study was funded by the Indian Council of Medical Research and the Ministry of Health and Family Welfare.
• It was a cross-sectional, population-based survey of adults above 20 years, across the country using a stratified, multistage sampling design.
• The four major NCDs are cardiovascular diseases, cancers, chronic respiratory diseases and diabetes.
• They all share behavioural risk factors such as unhealthy diet, lack of physical activity, and use of tobacco and alcohol.
• India is facing the dual problem of malnutrition and obesity as there is the availability of surplus food, but after being exposed to fast foods, lack of sleep, exercise and stress creates NCDs.
• India has 101 million people with diabetes and 136 million people with prediabetes.
• 315 million people had high blood pressure; 254 million had generalised obesity, and 351 million had abdominal obesity.
• 213 million people had hypercholesterolaemia and 185 million had high low-density lipoprotein (LDL) cholesterol.
• Hypercholesterolaemia is a situation where fat gets collected in arteries and puts individuals at greater risk of heart attack and strokes.
• Highest diabetes states: Goa, Puducherry and Kerala
• Highest prediabetes state: Sikkim
• Highest hypertension State: Punjab
• Highest Generalised obesity and abdominal obesity: Puducherry
• Highest hypercholesterolemia and LDL cholesterol: Kerala
• Lowest NCDs states: U.P., Mizoram, Meghalaya and Jharkhand
• The study is the first comprehensive epidemiological research paper which includes participants from 31 States and some Union Territories, with a large sample size of 1,13,043 individuals.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

HDFC Limited-HDFC Bank merger to be effective July 1, 2023, shares rise nearly 2%

• Housing Development Finance Corporation Limited Chairman Deepak Parekh stated that HDFC Bank, the largest private sector bank in India, and housing finance company HDFC Ltd are set to complete their merger by July 1,2023.
• The boards of HDFC and the HDFC bank met on June 30, 2023 to clear and approve the merger & it will be the last board meeting of HDFC.
• Meanwhile, HDFC vice-chairman and CEO Keki Mistry informed that the delisting of the HDFC stock from exchanges will be effective from July 13, 2023 & will start trading under HDFC Bank ticker.
• Post-merger, Parekh will retire and Keki Mistry and HDFC MD Renu Karnad will be board members of HDFC Bank.

History :

• Termed as the biggest transaction in India’s corporate history, HDFC Bank on April 4, 2022 agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 billion, creating a financial services titan.
• The proposed entity will have a combined asset base of around Rs 18 lakh crore.
• Once the deal is effective, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank.
• As per the merger terms, every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares they hold.

About HDFC :

• Established : 1977
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Deepak Parekh

About HDFC Bank Ltd :

• Founded : August 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World

CURRENT AFFAIRS: MOUS AND AGREEMENT

Vistara-Lufthansa Partnership To Enhance Connectivity Across 12 Destinations In Europe

• Vistara, India’s leading full-service carrier, has expanded its codeshare partnership with Lufthansa, one of Europe’s premier airlines, enabling enhanced connectivity to Vistara customers while travelling across Europe.
• Now, the 12 key destinations that get included in Vistara’s network are Amsterdam (AMS), Stockholm (ARN), Berlin (BER), Budapest (BUD), Copenhagen (CPH), Rome (FCO), Hamburg (HAM), Helsinki (HEL), Lisbon (LIS), Munich (MUC), Oslo (OSL), Prague (PRG).
• The bilateral codeshare agreement between Vistara and Lufthansa enables both airlines to sell flights on each other’s networks, offering convenient travel options to customers.
• Vistara, which is also a joint venture of Tata Sons and Singapore Airlines, and Lufthansa had entered into a unilateral codeshare agreement, in 2019, enabling the latter to add its designator code (LH) to Vistara flights for 18 destinations in India.

CURRENT AFFAIRS: SPORTS NEWS

Youth Affairs and Sports Ministry approves wrestlers Vinesh Phogat & Bajrang Punia’s proposal for training in Kyrgyzstan & Hungary under TOPS

• Youth Affairs and Sports Ministry has approved wrestlers Vinesh Phogat and Bajrang Punia’s proposal for training in Kyrgyzstan and Hungary under Target Olympic Podium Scheme (TOPS).
• Both the wrestlers had sent their proposals to the Ministry, and TOPS team and it was cleared within 24 hours of their request.
• Olympic medalist Bajrang Punia will head out to Issyk-Kul, Kyrgyzstan for 36 days training camp.
• While world championships medalist Vinesh Phogat will first head out to Bishkek, Kyrgyzstan for a week of training then to Hungary for 18 days of training camp.
• Vinesh will be accompanied by physiotherapist Ashwini Jeevan Patil, sparring partner Sangeeta Phogat and Coach Sudesh.
• Bajrang Punia will be accompanied by Coach Sujeet Maan, Physiotherapist Anuj Gupta, sparring partner Jitender and Strength and Conditioning expert Kaazi Hasan.
• The government will fund air tickets, camp expenses and other miscellaneous costs.
• Both Vinesh and Bajrang are set to leave in the first week of July.

About TOPS

• The Target Olympic Podium Scheme is a major effort of the Ministry of Youth Affairs and Sports that aims to support India’s finest athletes.
• The plan attempts to improve these athletes’ training so that they can win medals at the Olympics.
• In September 2014, the Ministry of Youth Affairs and Sports (MYAS) launched the Target Olympic Podium Scheme (TOPS) to improve India’s performance at the Olympics and Paralympics.

India defeated Iran to win the Asian Kabaddi Championship in Busan, South Korea:

• India beat Iran 42-32 in the final of the Asian Kabaddi Championship 2023 in Busan, South Korea.
• This is India’s eighth title in nine editions.
• Indian captain Pawan Sehrawat led from the front with a super 10.
• Earlier in the day, India had beaten Hong Kong 64-20 to end the league stage of the tournament undefeated.
• Six teams – India, Iran, Japan, Korea, Chinese Taipei and Hong Kong – participated in the Championships.
• India won all five matches in the league stage and topped the points table.
• Iran came second, only losing to India in the league stage, and made it to the final.
• While India’s biggest win in the league stage, a 76-13 victory, came against Korea on the opening day of the tournament, their narrowest victory of 33-28 came against Iran.
• The next big challenge for the Indian kabaddi teams will be the upcoming Asian Games in Hangzhou, China from September 23 to October 8.
• Iran, who beat India in the semi-finals in Jakarta in 2018, will be the defending champions at the continental multi-sport showpiece.

CURRENT AFFAIRS: IMPORTANT DAYS

National Doctor’s Day 2023: July 1

• On July 1st National Doctor’s Day 2023 is observed nationally all over India as an honouring event among the public.
• The theme for this year(2023) is “Celebrating Resilience and Healing Hands.”
• In 1882, Bidhan Chandra Roy was born in Patna Bengal Presidency, British India, on July 1st.
• In 1901, Roy enrolled at the Calcutta Medical College and, upon graduating, left for England for further studies.
• In 1925, Dr Roy became the Chief Minister of West Bengal following India’s newly gained Independence.
• In 1926, Dr Roy established The Chittaranjan Seva Sadan, a special hospital for women and children.
• In 1961, Dr Roy was awarded the Bharat Ratna, the highest civilian award of the Republic of India, a year before his death.
• In 1991, The first-ever Doctor’s Day is celebrated in India in honour of Dr Bidhan Chandra Roy.

Daily CA One-Liner: July 1

• ICICI Lombard General Insurance and ICICI Prudential Life Insurance have jointly launched a combi product, ‘iShield’, which will provide customers with both health and life insurance under the “use and file” procedure.
• Union Minister of Mines, Pralhad Joshi, has unveiled India’s first-ever report on Critical Minerals for India.
• The government has also decided to bring the National Research Foundation (NRF) Bill, 2023 to strengthen the research ecosystem in the country.
• Commerce and Industry Minister Piyush Goyal has asked the Indian banks to ensure enhanced and affordable credit to MSMEs to achieve the target of one trillion dollar merchandise exports by 2030.
• A seven-km undersea tunnel will be constructed for the bullet train project to save mangrove forests in Maharashtra.
• Pension Fund Regulatory and Development Authority (PFRDA) intends to introduce a plan during the second half of this fiscal, to allow the subscribers of the National Pension Scheme (NPS) to withdraw 60% of the accumulated corpus systematically instead of the current system of a one-time withdrawal.
• India and the UAE have set a target of doubling non-oil bilateral trade to $100 billion by 2030 from $48 billion at present.
• The new national estimates for non-communicable diseases (NCDs)- “Metabolic non-communicable health report of India-the ICMR-INDIAB National Cross-sectional Study” was recently released.
• Vistara, India’s leading full-service carrier, has expanded its codeshare partnership with Lufthansa, one of Europe’s premier airlines, enabling enhanced connectivity to Vistara customers while travelling across Europe.
• United Nations Secretary-General Antonio Guterres has removed India from his annual report on the impact of armed conflict on children, citing “measures taken by the government to better protect” them.
• The Greater Chennai City Police (GCP) launched India’s first ‘Police Drone Unit’ for aerial surveillance over vast areas and quick detection of criminal activities.
• Andhra Pradesh (AP) Chief Minister (CM) Y S Jagan Mohan Reddy launched the ‘Jagananna Amma Vodi’ scheme for the fourth year, under which financial assistance of Rs 6,393 crore will be deposited into the bank accounts of 43 lakh beneficiaries, at Kurupam in Parvathipuram Manyam district, AP.
• A team of the Geological Survey of India (GSI) discovered India’s biggest ‘Natural Arch’ during their survey of coal in Kenduadihi block in Odisha’s Sundargarh forest division, a Geo Heritage Site.
• The Tamil Nadu (TN) government has appointed senior bureaucrat Shiv Das Meena as the next Chief Secretary of TN.
• German luxury car brand Audi has appointed Gernot Dollner as new Chief Executive Officer (CEO) of the Board of Management, effective September 1, 2023.
• Housing Development Finance Corporation Limited Chairman Deepak Parekh stated that HDFC Bank, the largest private sector bank in India, and housing finance company HDFC Ltd are set to complete their merger by July 1,2023.
• Youth Affairs and Sports Ministry has approved wrestlers Vinesh Phogat and Bajrang Punia’s proposal for training in Kyrgyzstan and Hungary under Target Olympic Podium Scheme (TOPS).
• India beat Iran 42-32 in the final of the Asian Kabaddi Championship 2023 in Busan, South Korea.
• On July 1st National Doctor’s Day 2023 is observed nationally all over India as an honouring event among the public.