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CURRENT AFFAIRS : BANKING & FINANCE
SBI-led consortium to fund Adani Group’s ₹34,000-crore polyvinyl chloride project in Mundra
- In one of the largest fundraising by the Adani Group from Indian banks since the allegations by Hindenburg Research, a State Bank of India (SBI)-led consortium of banks has agreed to finance a significant part of the Adani Group’s ₹34,000-crore polyvinyl chloride (PVC) project in Mundra.
Key Highlights :
- The funding for the first phase of the project will be taken by the public sector banks (PSBs) which will pick up the bulk of the tab of around ₹14,500 crore.
- The remaining amount will be financed by private lenders.
- The project, undertaken by Adani Enterprises subsidiary Mundra Petrochem, aims to establish a plant with an annual capacity of 1 million tonnes in the first phase, costing around $2.5 billion.
- The capacity will be doubled in the second phase after commissioning the first phase by 2025–26.
- This will be a major bank financing deal for the group after the Hindenburg Report in January,2023 which derailed the group’s plans to raise ₹20,000 crore through a follow-on public offering and set back its expansion plans temporarily.
- Domestic lenders – State-run banks, private banks, and lines of credit from PSU banks for capex have only about 16% exposure to the group.
- Over a third of the group’s borrowings are through bonds issued overseas and funding from global international banks.
About SBI :
- Established : 1 July 1955
- Headquarters : Mumbai, Maharashtra, India
- Chairman : Dinesh Kumar Khara
- CFO : Kameshwar Rao Kodavanti
Universal Postal Union to evaluate UPI platform for cross-border remittances using global postal network
- The Universal Postal Union (UPU) has announced plans to evaluate the integration of the Unified Payment Interface (UPI) with cross-border remittances using the global postal network.
Aim :
- To explore the potential of UPI in facilitating secure and efficient international money transfers.
What are the advantages of Integrating UPI with UPU?
- UPI offers a secure, convenient, and real-time payment experience, making it a promising platform for cross-border remittances.
- Leveraging the global postal network, which has extensive reach and infrastructure, can further expand the reach of UPI-enabled remittances.
- The integration of UPI with postal channels can provide a reliable and accessible remittance solution for individuals, particularly in remote areas where traditional banking services may be limited.
About UPU :
- Established : 9 October 1874
- Headquarters: Bern, Switzerland
- Director General : Masahiko Metoki
- It is a United Nations specialised agency and the postal sector’s primary forum for international cooperation.
- UPU is the second oldest international organisation ·
- India joined the UPU in 1876.
- The organization consists of 4 bodies: Congress, the Council of Administration (CA), the Postal Operations Council (POC), and the International Bureau (IB).
- It also oversees the Telematics and Express Mail Service (EMS) cooperatives.
Member Countries :
- The UPU currently has 192 members (190 states and two joint memberships of dependent territories groups).
- Any member country of the United Nations may become a member of the UPU.
- Any non-member country of the United Nations may become a UPU member, provided that its request is approved by at least two-thirds of the member countries of the UPU.
ESAF Small Finance Bank scores high in ESG assessment
- ESAF Small Finance Bank has achieved a high score of 71 in an Environmental, social, and corporate governance (ESG) assessment conducted by CareEdge Research.
- By surpassing the industry average of 8 the Bank has showcased that its environmental, social and governance practices are set at a higher standard than the industry average.
Key Highlights :
- For the environmental pillar, the bank achieved a score of 62%.
- This demonstrates the banks’ commitment to green finance and environment conscious operations.
- Additionally, the Bank has demonstrated a decisive ESG roadmap in Sustainable Development Goal initiatives, foster local sustainable economic growth, ensure food security, foster energy security, and align with net-zero targets through its commitment to green finance and environmental consciousness.
- For the social pillar, the Bank achieved a score of 68% by demonstrating healthy labour management practices, including the implementation of various policies that embody international and national human rights standard
- The banks’ corporate social responsibility contribution exceeded the government-mandated requirement.
- For the governance pillar, the bank achieved a score of 76% due to its board governance and disclosure practices.
About ESAF Small Finance Bank :
- Founded : 10 March 2017
- Headquarters : Thrissur, Kerala
- Chairperson : P. R. Ravi Mohan
- MD & CEO : K. Paul Thomas
- ESAF Small Finance Bank is an Indian small finance bank providing banking services and small loans to the underbanked.
ADB retained India’s GDP Growth forecast at 6.4% for current fiscal
- The Asian Development Bank (ADB) retained India’s economic growth forecast at 6.4% for the current financial year (FY2023) and 6.7% for the next financial year (FY2024).
- This comes after the Reserve Bank of India’s (RBI) Monetary Policy Committee projected GDP growth of 2023-24 at 6.5%.
- The real GDP growth for 2022-23 fiscal ended March 2023 was recorded at 7.2%.
Key Highlights :
- ADB forecast 3.6% inflation this year for developing economies in Asia, and 3.4% in 2024.
- China has been pegged to grow at 5% this year and 4.5% the next year.
- Growth in Southeast Asia is now expected at 4.6% this year and 4.9% next year, down from 4.7% and 5% previously.
- For developing Asia, the forecast has been 4.8% this year and 4.7next year.
- Developing Asia consists of 46 economies in the Asia-Pacific and excludes Japan, Australia and New Zealand.
Recent News :
- In June 2023, Fitch Ratings raised its forecast for India’s economic growth to 6.3% for the current fiscal year 2023-24 from 6% it had predicted previously.
- In June 2023, the World Bank had also pegged India’s GDP growth forecast to 6.3% in FY24.
About ADB :
- Established : 19 December 1966
- Headquarters : Mandaluyong, Philippines
- President : Masatsugu Asakawa
- Membership : 68 countries
SBI Capital, Anarock, KPMG & 8 others to provide transaction advisory services for asset monetisation of Central Public Sector Enterprises
- In a push to asset monetisation of Central Public Sector Enterprises (CPSEs), the Centre has empaneled 11 firms to provide consultancy services.
- Monetisation is key to disinvestment where non-core assets are taken out and sold or leased out separately for better valuation.
- The firms include SBI Capital Markets Limited, CBRE South Asia Private Limited, Ernst &Young LLP, Cushman Wakefield India Private Limited, KPMG Assurance and Consulting Services LLP, Deloitte Touche Tohmatsu India LLP, Colliers International (India) Property Services Private Limited, Anarock Property Consultants Private Limited, Jones Lang La Salle Property Consultant (India) Private Limited, Darashaw & Company Private Limited and Rites Limited, an order by National Land Monetisation Corporation (NLMC)
History :
- In February,2023 the agency floated a request for empanelment of consultancy firms for providing transaction advisory services for monetisation of assets of CPSEs and other government agencies.
- The selected firms will assist NLMC in “formulating the monetisation strategy, conducting techno-economic feasibility studies of each of the assets and provide end to end transaction advisory services and ensure completion of transactions for monetisation of the assets.
- Interestingly, the Union Budget for FY24 is silent on monetisation.
- The Budget also scaled down the estimate under ‘Miscellaneous Capital Receipts’ to ₹61,000 crore in FY24 from ₹65,000 crore of FY 23 (BE), though it is slightly higher than Revised Estimate of ₹61,000 crore.
- Miscellaneous Capital Receipts’ comprises part sell of government equity in CPSE, strategic disinvestment, monetisation and other such transactions.
CURRENT AFFAIRS: NATIONAL NEWS
Shri Amit Shah inaugurates a National Mega Conclave on the launching of Common Services Centre (CSC) services by Primary Agricultural Credit Societies (PACS) in New Delhi
- Union Home Minister and Minister of Cooperation, Shri Amit Shah inaugurated a National Mega Conclave on the launching of Common Services Centre (CSC) services by Primary Agricultural Credit Societies (PACS) in New Delhi.
Attendees
- On this occasion, Union Minister for Communications, Electronics & Information Technology and Railways Shri Ashwini Vaishnav, Union Minister of State for Cooperation, Shri B L Verma, Secretary, Ministry of Cooperation, Shri Gyanesh Kumar, Secretary, Ministry of Electronics and Information Technology, Shri Alkesh Kumar Sharma and Managing Director of CSC-SPV Shri Sanjay Rakesh were present along with other dignitaries.
Key Highlights:
- Shri Amit Shah said that Prime Minister Modi has guided the Ministry of Cooperation with a great vision.
- He said that if the cooperative movement has to be strengthened, then its smallest unit PACS has to be strengthened.
- Shri Shah said that until the PACS are not strong, the cooperative movement cannot be strengthened.
- Therefore, the government has decided to computerize the PACS to make them transparent, to ensure their accountability and also to modernize them so that the digitized schemes of the government can be integrated with the PACS.
- Shri Shah said that within 20 days of the formation of the Ministry of Cooperation, Prime Minister Shri Narendra Modi provided Rs. 2,500 crore for the computerization of PACS, due to which 65,000 PACS are being computerized.
Recent News
- Union Home Minister and Minister of Cooperation, Shri Amit Shah announced the scheme while chairing a meeting with Ministers of Disaster Management of the States/Union Territories in New Delhi
- Union Home Minister and Minister of Cooperation Shri Amit Shah will inaugurate a day-long mega conclave “Strengthening PACS through FPOs” in New Delhi.
The India-ASEAN Traditional Medicines Conference was conducted in New Delhi:
- The Ministry of Ayush, in association with the Ministry of External Affairs and the Indian Mission to ASEAN organized a conference of India and the Association of South East Asian Nations (ASEAN) on traditional medicines at New Delhi.
- The Conference, held again after almost a decade, promised to consolidate sustainable and resilient healthcare systems to achieve Sustainable Development Goals and Universal Health Coverage.
- The Conference was graced by Union Minister of Ayush and Ports, Shipping & Waterways Shri Sarbananda Sonowal and MoS for Ayush and WCD Dr Munjpara Mahendrabhai Kalubhai as Guest of Honour. Secretary Ayush Vaidya Rajesh Kotecha, other dignitaries and representatives from ASEAN countries were also present on this occasion.
- A total of 75 delegates from India and ASEAN including two ASEAN countries participating through virtual mode, were a part of this prestigious conference.
- The Minister also informed, “Prime Minister of India Shri Narendra Modi at the 12th ASEAN India Summit at Myanmar in November 2014 enunciated ‘Act East Policy’, giving new momentum to the strategic partnership. The Act-East Policy emphasises Connectivity, Commerce and Culture.”
- The Conference was divided into sessions with experts of Traditional Medicine from India and ASEAN sharing about the research they have done and other initiatives taken in protecting people from Covid.
- The second session dealt with knowledge sharing on regulatory frameworks, quality control measures, and integration of traditional medicine into healthcare systems.
About ASEAN
- ASEAN, officially an abbreviation of the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia.
- Headquarters: Jakarta, Indonesia
- Founded: 8 August 1967, Bangkok, Thailand
Centre approved Market Development Assistance of Rs 1500 per MT to promote organic fertilizers
- Minister of State for Chemical and Fertilizers Bhagwanth Khuba informed the Lok Sabha that the Centre has approved the Market Development Assistance, MDA of 1500 rupees per metric tonne to promote organic fertilizers.
- The government is promoting balanced and judicious use of fertilizer based on soil tests in conjunction with organic and biofertilizers.
- The Minister said the Indian Council of Agricultural Research conducts research to test and develop organic inputs for different crops. It also promotes these products among the stakeholders through the network of Krishi Vigyan Kendras.
- The manure is produced at plants under the GOBARdhan initiative, PM Programme for Restoration, Awareness Generation, Nourishment and Amelioration of Mother Earth, PM-PRANAM and Sulphur Coated Urea also known as Urea Gold.
CURRENT AFFAIRS : STATE NEWS
Government of Maharashtra gave Final Nod To Adani For Dharavi Slum Redevelopment Project
- The Government of Maharashtra has approved the Adani group’s proposal to rehabilitate residents of Mumbai’s 590-acre Dharavi locality, home to over 900,000 Indians, almost 8 months after the conglomerate won a tender to develop India’s largest slum.
- As an equity partner of the project, spread over 35 hectares, the state government has allocated ₹100 crore from its kitty, while Adani group will spend ₹400 crore as the project’s chief partner.
Key Highlights :
- The Maharashtra cabinet awarded the Dharavi Redevelopment Project(DRP) bid to Adani Properties in December 2022.
- Despite a pending case in the Bombay high court on the project, the cabinet decided to go ahead.
- Bids for the DRP were opened in November, and Adani Properties with a bid of ₹5,069 crore, was declared the winner.
- The DLF group, another frontrunner, had submitted a bid of ₹2,025 crore.
- Significantly, no other company was eligible for the final bid.
- According to the government order, the SPV of Adani will now have to pay 25% of ready reckoner price (as on the last day of bid submission) as premium of land to DRP or Slum Rehabilitation Authority.
- Dharavi’s history dates back to the 1700s when it was an uninhabitable marsh at the edge of the island city and the Bombay gazetteer mentions six great koliwadas of Dharavi.
- The redevelopment of Dharavi is an ambitious project for the state government, which will take about 15 years to complete.
- The Shinde-Fadnavis government wants to kickstart the project so that work on it can commence before the 2024 general election.
About Maharashtra :
- Governor: Ramesh Bais
- Chief minister: Eknath Shinde
- Capital: Mumbai
- National Park : Tadoba National Park, Navegaon National Park
- Wildlife Sanctuaries : Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife Sanctuary
- UNESCO Heritage Sites : Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
CURRENT AFFAIRS: BUSINESS NEWS
Overall Coal Production Records highest ever 223.36 million tonnes in the first quarter of FY 2023-24
- India’s coal sector achieved a remarkable milestone in the first quarter of FY 2023-24, by recording the highest-ever coal production at 223.36 million tonnes (MT), representing a substantial growth of 8.55% compared to the production of 205.76 MT during the same period during FY 2022-23.
- Coal India Limited (CIL) registered 175.48 MT production between April and June 2023, marking a commendable growth rate of 9.85% in comparison to 159.75 MT during the corresponding period of the previous year.
- The consistent upward trajectory in coal production highlights India’s commitment to meet its energy demands and drive sustainable economic growth.
- While coal imports increased by 16.76% from April 2023 to May 2023, as compared to the same period in the previous year, it is important to note that this rise is primarily attributable to the substantial decline in coal import prices.
- Import prices for coal have plummeted by over 60% in the Q1 of FY 2023-24, compared to the Q1 of FY 2022-23.
About CIL :
- Coal India Limited (CIL) is a Maharatna Central public sector undertaking under the ownership of the Ministry of Coal.
Recent News
- Shri Amrit Lal Meena, Secretary, Ministry of Coal inaugurated the India pavilion having NLC India Ltd (NLCIL), Coal India Limited (CIL) and National Mineral Development Corporation (NMDC) at the World Mining Congress (WMC) 2023 in Brisbane, Australia.
- Coal India Limited (CIL) has recorded an impressive growth of 9.85%, with production reaching 175.35MT in FY 2023-24 as compared to 159.63 MT during the same period the previous year
Mineral production rises by 5.1% in April 2023:
- The index of mineral production of the mining and quarrying sector for the month of April 2023 (Base: 2011-12=100) at 122.5, is 5.1% higher as compared to the level during the month of April 2022.
- As per the provisional statistics of the Indian Bureau of Mines (IBM), the cumulative growth for the period April- April 2022-23 over the corresponding period of the previous year is 5.8 per cent.
- The production level of important minerals in April 2023 were: coal 731 lakh tonnes, lignite 32 lakh tonnes, natural gas (utilized) 2671 million cu. m., petroleum (crude) 24 lakh tonnes, iron ore 247 lakh tonnes, limestone 386 lakh tonnes and bauxite 1562000, chromite 273000, copper conc. 9000, lead conc.29000, manganese ore 265000, zinc conc. 130000, phosphorite 162000, magnesite 10000 tonnes each, gold 102 kg and diamond 2 carat.
- Important minerals showing positive growth during April 2023 over April 2022 include Phosphorite (29.1%), Magnesite (27.7%), Iron Ore (13.1%), Limestone(12.7%), Copper Conc. (12%), Lead Conc. (10.6%), Coal (8.8%), Manganese Ore (6.9%) and Zinc Conc. (4.1%). Other important minerals showing negative growth include Petroleum (crude) (-3.6%), Natural gas (U) (-2.8%), Gold(-8.1%), Lignite(-21.2%), Bauxite(-24.7%) and Chromite (-40.1%).
The Adani Group is constructing the largest hybrid renewable energy park in the world at Khavda, Gujarat.
- The Adani Group is building the world’s largest hybrid renewable energy park right in the middle of a desert, in Khavda, Gujarat.
- The announcement was made by the founder and chairman of the group, Gautam Adani while addressing shareholders at Adani Enterprises’ annual general meeting.
- Spread over 72,000 acres, the park will produce 20 GW of green energy, once operational.
- The project will be developed by Adani Green Energy Limited (AGEL), the renewable energy arm of the diversified Adani portfolio.
- Earlier during FY 022-23, the group operationalized 2.14 GW solar-wind hybrid plants in Rajasthan, India’s first and world’s largest solar-wind hybrid cluster.
- The hybrid cluster consists of four plants having a capacity of 390 MW, 600 MW, 450 MW and 700 MW respectively. All three of these hybrid energy generation assets are located in Jaisalmer, Rajasthan.
- Adani said Adani Ports and Special Economic Zone (APSEZ) will commission India’s largest transhipment hub in Vizhinjam, Kerala, in the next 12-24 months.
- The port, a transhipment deepwater multipurpose seaport, is being constructed at an estimated cost of Rs 7,700 crore. APSEZ will also commission a port in Colombo.
- Separately, APSEZ — aiming to become the world’s largest port operator — intends to boost cargo volumes at its ports to 1 billion tonnes a year by 2030. The firm intends to develop the industrial hinterland across some of its ports by working closely with state governments.
About Gujarat :
- Governor: Acharya Devvrat
- Minister: Bhupendrabhai Patel
- Capital: Gandhinagar
- National Park: Vansda National Park, Gir National Park, Marine National Park, Velavadar National Park
- Wildlife Sanctuaries: Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Shoolpaneshwar Wildlife Sanctuary
Recent News
- As part of India’s G20 presidency, the third Trade and Investment Working Group Meeting began in Kevadia,
- Gujarat Chief Minister (CM) Shri Bhupendra Patel and Union Minister of State for Communications Devusinh Chauhan, launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Nadia of Kheda district in Gujarat.
- The Atal Innovation Mission (AIM) and Bayer inaugurated a one-of-a-kind industrial visit project called Atal Tinkering Labs at Bayer’s production site in Vapi, Gujarat.
CURRENT AFFAIRS: MOUS AND AGREEMENT
An agreement was made between the Ministry of Culture and Canara Bank to make it easier to give veteran artists financial support:
- An MoU has been signed between the Ministry of Culture and Canara Bank for the disbursal of financial assistance to the selected beneficiaries under the “Scheme for Financial Assistance for Veteran Artists” earlier known as “Scheme for Pension and Medical Aid to Artists”.
- As per the MoU, master data of selected beneficiaries both for fresh as well as legacy data is to be uploaded by the Ministry in the online portal to be developed by the Canara Bank for this purpose.
Key Highlights
- Based on the scheme guidelines Canara Bank is required to work out the quarterly requirement of funds and raise the demand for the same to the Ministry.
- Upon receipt of the demand of funds from Canara Bank, the same will be released in advance every quarter by the Ministry to the Bank for releasing the same every month to the eligible beneficiaries.
- An artist aged 60 years and above who has contributed to the field of art and culture in their active age and whose annual income is not more than Rs. 48,000/- can apply under the scheme either through the Art & Culture Department of the concerned State Government/UT or Zonal Cultural Center.
- Release of financial assistance every month to the eligible beneficiaries is one of the main objectives of the MoU entered with Canara Bank.
- Under this scheme an amount of Rs. 26.00 crore has been allocated in B.E. for the year 2023-24.
- To ensure transparency and efficient utilization of funds, the scheme guidelines provide for direct transfer of amount to the account of selected beneficiaries.
About Canara Bank
- Headquarters: Bengaluru
- CEO: K. Satyanarayana Raju
- Founder: Ammembal Subba Rao Pai
- Founded: 1 July 1906
- Tagline: Together We Can
India Chamber of Business and Commerce and Indian Council of Medical Research sign MOA for Partnership in building Future of Health and Healthcare in India and partnership in India Health Dialogue Platform
- India Chamber of Business and Commerce referred to as the India Chamber and the Indian Council of Medical Research referred to as ICMR has signed an MOA at the Ministry of Micro Small and Medium Enterprises (MSME) in the presence of the Minister of MSME Shri Narayan Rane to promote India as global Hub in healthcare manufacturing and delivery and for creating a global stakeholders platform for the building robust healthcare ecosystem promoting future of health capabilities in India and promoting Investment creation in the field of Healthcare.
- The profound aim of the MOA is to build India as a global Hub for health and healthcare and build future healthcare capabilities in India.
- The future of healthcare is based on digital and smart healthcare delivery, tech-enabled and innovation-based high-quality manufacturing and diversification into critical healthcare equipment and medical devices, diagnostics, drug parks etc. and application of innovation and technologies into the healthcare system.
- He also mentioned that the spirit of this Collaboration is to promote the business ecosystem for building a global Platform for promoting investment opportunities, global collaborations, innovation and entrepreneurship in the Indian health care manufacturing and services sector to make India AtamNirbhar in the Health sector.
Indian Bank ties up with TAFE, TMTL for tractor financing
- Indian Bank has partnered with TAFE (Tractors and Farm Equipment) and its wholly-owned subsidiary TMTL (TAFE Motors and Tractors Ltd.) for tractor financin
- The tie-up would allow farmers and individuals to avail t tractor loans at affordable interest rates, with the benefit of hassle-free loan processing, the public sector lender said in a statement.
- Interested buyers can avail of tractor financing benefits from more than 5,700 branches.
- TAFE (Tractors and Farm Equipment Limited) is a renowned tractor manufacturer in India, offering a comprehensive range of tractors and agricultural machinery.
- With a rich legacy spanning decades, TAFE has been a trusted partner to farmers, empowering them with cutting-edge agricultural solutions.
About Indian Bank :
- Founded: 15 August 1907
- Headquarters: Chennai, Tamil Nadu
- MD & CEO: Shanti Lal Jain
- Tagline: Your Own Bank/ Apka Apna Bank
Recent News
- Public sector lender Indian Bank in collaboration with National E-Governance Services Limited (NeSL), has unveiled new services under its digital transformation initiative – Project WAVE (world of advanced virtual experiences)
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Centre appoints Haryana IPS officer Manoj Yadava as Director General of Railway Protection Force
- The Union government has appointed Haryana cadre 1988 batch Indian Police Service (IPS) officer Manoj Yadava as next Director General of the Railway Protection Force (RPF).
- He will replace incumbent Sanjay Chander, a 1987-batch IPS officer of West Bengal cadre who will retire on July 31, 2023.
- Manoj Yadava will serve in his new posting till his retirement i.e. up to July 31, 2025.
Other Appointments :
- IPS officer Shafi Ahsan Rizvi, posted as Special Director in the Intelligence Bureau (IB), is appointed as Advisor of the National Disaster Management Authority (NDMA).
- The Appointments Committee of the Cabinet (ACC) has also cleared the name of Maharashtra cadre IPS officer Rajesh Pradhan as Joint Director in the Central Bureau of Investigation (CBI) on a deputation basis.
About Manoj Yadava :
- Yadava belongs to Aligarh, Uttar Pradesh.
- He was posted as the DG of Haryana in 2019.
- Currently, he is serving as DG, National Human Rights Commission (NHRC).
About RPF :
- Headquarters : New Delhi, India
- RPF is an armed Force of the Union under the administrative and operational control of Indian Railways, Ministry of Railways, Government of India established by the Railway Protection Force Act, 1957; enacted by the Indian Parliament for “the better protection and security of railway property and passenger area”.
- All the officers of Railway Protection Force are members of the Indian Railway Protection Force Service (IRPFS) and are recruited through UPSC Civil Services Examination.
Longest-serving Dutch PM Mark Rutte quits politics after 13 years
- Dutch Prime Minister Mark Rutte announced he was quitting politics after nearly 13 years in power, in a shock end to his time as the longest-serving leader in the history of the Netherlands.
About Mark Rutte :
- Mark Rutte became the state secretary for social affairs and employment for the Balkenende governments between July 2002 to June 2004.
- He served as the State Secretary for Education, Culture and Science in 2006.
- He was appointed as the leader of the VVD parliamentary party from June 2006 to October 2010.
- In August, 2022 Mark Rutte, became the longest-serving Prime Minister in Dutch history.
- Since he was elected in 2010, Mr Rutte served the office for 13 years.
- He is fondly known as “Teflon Mark,” as scandals didn’t stick to him.
- He was given the title because even after the unrest gripped the nation and his party’s popularity dwindled in polls, he showed no signs of slowing down.
About Netherlands :
- Capital: Amsterdam.
- Currency : Euro
CURRENT AFFAIRS : DEFENCE NEWS
INS Sahyadri and INS Kolkata arrive at Jakarta,Indonesia for Bilateral Maritime Exercise
- Two frontline Indian Naval ships (INS) Sahyadri and INS Kolkata arrived in Indonesia’s Jakarta,Indonesia to participate in the Maritime Partnership Exercise (MPX) with the Indonesian Navy.
Key Highlights :
- During the port call, personnel from Indian and Indonesian navies will engage in interactions aimed at strengthening mutual cooperation and understanding between the two navies.
- Both ships will then take part in MPX at sea with the Indonesian Navy to further increase the interoperability that already exists between the two navies.
About INS Sahyadri and INS Kolkata :
- INS Sahyadri is the 3rd indigenously designed and built Project-17 class stealth frigate.
- INS Kolkata is the first indigenously designed and built Project-15A class stealth destroyer.
- INS Sahyadri and INS Kolkata have been built at Mazagon Dock Shipbuilders Ltd, Mumbai, Maharashtra.
Recent News :
- The 4th edition of Indo-Indonesia bilateral Exercise Samudra Shakti-23 concluded in the South China Sea.
About Ministry of Defence :
- Defence Minister : Rajnath Singh
- Minister of State : Ajay Bhatt
- Defence Secretary : Giridhar Aramane
CURRENT AFFAIRS: IMPORTANT DAYS
World Brain Day 2023: July 22
- Every year on July 22nd World Brain Day is celebrated by people worldwide to prevent brain disabilities and treat and rehabilitate them.
- World Brain Day’s 2023 theme is “Brain Health and Disability: Leave No One Behind.”
- World Brain Day 2023 was discovered by the World Federation of Neurology for the first time.
- The World Federation of Neurology (WFN) was founded on July 22, 1957, in Belgium.
- This World Federation of Neurology is now one of the leading promoters of brain health and neurology research worldwide.
- The idea of observing the 22nd of July as “World Brain Day” originated from a proposal put forth by the Public Awareness and Advocacy Committee.
- This World Brain Day proposal was presented during the World Congress of Neurology (WCN) Council of Delegates meeting on September 22, 2013, and it received a warm and enthusiastic response from the delegates.
Daily CA One-Liner: July 22
- Union Home Minister and Minister of Cooperation, Shri Amit Shah inaugurated a National Mega Conclave on the launching of Common Services Centre (CSC) services by Primary Agricultural Credit Societies (PACS) in New Delhi.
- The Ministry of Ayush, in association with the Ministry of External Affairs and the Indian Mission to ASEAN organized a conference of India and the Association of South East Asian Nations (ASEAN) on traditional medicines at New Delhi.
- Minister of State for Chemical and Fertilizers Bhagwanth Khuba informed the Lok Sabha that the Centre has approved the Market Development Assistance, MDA of 1500 rupees per metric tonne to promote organic fertilizers.
- India’s coal sector achieved a remarkable milestone in the first quarter of FY 2023-24, by recording the highest-ever coal production at 223.36 million tonnes (MT), representing a substantial growth of 8.55% compared to the production of 205.76 MT during the same period during FY 2022-23.
- The index of mineral production of the mining and quarrying sector for the month of April 2023 (Base: 2011-12=100) at 122.5, is 5.1% higher as compared to the level during the month of April 2022.
- The Adani Group is building the world’s largest hybrid renewable energy park right in the middle of a desert, in Khavda, Gujarat.
- An MoU has been signed between the Ministry of Culture and Canara Bank for the disbursal of financial assistance to the selected beneficiaries under the “Scheme for Financial Assistance for Veteran Artists” earlier known as “Scheme for Pension and Medical Aid to Artists”.
- India Chamber of Business and Commerce referred to as the India Chamber and the Indian Council of Medical Research referred to as ICMR has signed an MOA at the Ministry of Micro Small and Medium Enterprises (MSME).
- Indian Bank has partnered with TAFE (Tractors and Farm Equipment) and its wholly-owned subsidiary TMTL (TAFE Motors and Tractors Ltd.) for tractor financin
- Every year on July 22nd World Brain Day is celebrated by people worldwide to prevent brain disabilities and treat and rehabilitate them.
- In one of the largest fundraising by the Adani Group from Indian banks since the allegations by Hindenburg Research, a State Bank of India (SBI)-led consortium of banks has agreed to finance a significant part of the Adani Group’s ₹34,000-crore polyvinyl chloride (PVC) project in Mundra.
- The Universal Postal Union (UPU) has announced plans to evaluate the integration of the Unified Payment Interface (UPI) with cross-border remittances using the global postal network.
- ESAF Small Finance Bank has achieved a high score of 71 in an Environmental, social, and corporate governance (ESG) assessment conducted by CareEdge Research.
- The Asian Development Bank (ADB) retained India’s economic growth forecast at4% for the current financial year (FY2023) and 6.7% for the next financial year (FY2024).
- In a push to asset monetisation of Central Public Sector Enterprises (CPSEs), the Centre has empaneled 11 firms to provide consultancy services.
- The Government of Maharashtra has approved the Adani group’s proposal to rehabilitate residents of Mumbai’s 590-acre Dharavi locality, home to over 900,000 Indians, almost 8 months after the conglomerate won a tender to develop India’s largest slum.
- The Union government has appointed Haryana cadre 1988 batch Indian Police Service (IPS) officer Manoj Yadava as next Director General of the Railway Protection Force (RPF).
- Dutch Prime Minister Mark Rutte announced he was quitting politics after nearly 13 years in power, in a shock end to his time as the longest-serving leader in the history of the Netherlands.
- Two frontline Indian Naval ships (INS) Sahyadri and INS Kolkata arrived in Indonesia’s Jakarta,Indonesia to participate in the Maritime Partnership Exercise (MPX) with the Indonesian Navy.
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