Daily Current Affairs 18th June, 2022

Daily Current Affairs 18 June 2022 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

MHA announces 10% reservation for Agniveers in CAPFs, Assam Rifles
The Ministry of Home Affairs (MHA) said that 10% of all vacancies in the Central Armed Police Forces (CAPF) and Assam Rifles will be reserved for the armed forces recruits who have completed four-years of service under the Agnipath scheme. 

  • This reservation is other than the existing 10% quota for ex-servicemen in CAPFs, said a senior government official. The ministry also announced a five-year age relaxation for the first batch of Agniveers.

47th GST Council meeting to be held on June-28-29 in Srinagar
The GST Council said the location of its 47th meeting, which will be held during June 28-29, has been changed to Chandigarh, from Srinagar decided earlier.

  • The Council-appointed group on ministers (GoM), headed by Karnataka Chief Minister Basavaraj Bommai, has already conducted its meeting to discuss various, including changes to tax slabs and rates. The GoM will submit its report before the GST Council meeting.


INTERNATIONAL NEWS

India reaches 37th rank on the World Competitiveness Index
India has witnessed the sharpest rise among the Asian economies, with a six-position jump from 43rd to 37th rank on the annual World Competitiveness Index compiled by the Institute for Management Development, largely due to gains in economic performance. Meanwhile, Singapore, Hong Kong, Taiwan, and China proved to be the top-performing Asian economies.

  • Denmark has moved to the top of the 63-nation list from the third position last year, while Switzerland slipped from the top ranking to the second position and Singapore regained the third spot from fifth, a global study showed.
  • Others in the top 10 include Sweden at the fourth position, followed by Hong Kong SAR (5th), the Netherlands (6th), Taiwan (7th), Finland (8th), Norway (9th), and the USA (10th).
  • The domestic economy has experienced a stratospheric rise from 30th to 9th position in a year, Institute for Management Development (IMD) noted.

Japan to attend NATO summit for first time 
Japanese Prime Minister Fumio Kishida has said he will attend this month’s NATO summit in Madrid, becoming the country’s first leader to join a top meeting of the transatlantic group.

  • The announcement comes ahead of a June 28-30 gathering of the military alliance that is seen as a crunch moment for its 30 members, four months into Russia’s invasion of Ukraine.
  • Sweden and Finland, which have applied to join NATO, are sending delegations to the summit, and South Korea’s new President Yoon Suk-yeol will also be the first leader from his country to attend.

Egypt hosts Eighth Global Conference of Young Parliamentarians in Sharm El Sheikh
Egypt is hosting the Eighth Global Conference of Young Parliamentarians in Sharm El Sheikh. The two-day conference is jointly organized by the House of Representatives and the Inter-Parliamentary Union (IPU).

  • Nagaland’s first woman elected as Member of Parliament to Rajya Sabha S. Phangon Konyak is representing India at the Conference. She, along with two other young Lok Sabha MPs from India, will be sharing her thoughts on the ‘Young MPs for Climate Actions’.
  • The 8th Global Conference of Young Parliamentarians provides a platform for young MPs from across the world to exchange learn and define common and innovative strategies to advance youth empowerment.
  • This year in Egypt, around 200 young MPs, from 60 countries are participating to discuss strategies to mitigate the impact of climate change and ensure that global warming does not exceed 1.5 degrees Celsius in line with the Paris Agreement.

APEDA organizes eight-day long mango festival in Bahrain to boost export of Mangoes
The Agricultural and Processed Food Products Export Development Authority (APEDA) has organized an eight-day long mango festival in Bahrain to boost the export of Mangoes.

  • Commerce and Industry Ministry said, 34 varieties of mangoes from eastern states of West Bengal, Bihar, Jharkhand, Uttar Pradesh and Odisha, are being displayed at eight different locations of Bahrain’s Al Jazira group supermarket.
  • All the varieties of mangoes have been directly procured from farmers and two Farmer Producer Organizations. The mango show will continue till the 20th of this month.


BANKING & FINANCE

RBI raises limit of e-mandates for transactions up to ₹15000
The Reserve Bank (RBI) raised the Additional Factor of Authentication (AFA) limit from ₹5,000 to ₹15,000 per transaction for e-mandates on cards, Prepaid Payment Instruments (PPIs) and UPI for recurring transactions.

  • It implies, additional authentication will not be need for payment of ₹15,000 per transaction.
  • The Reserve Bank of India (RBI) has, over the past decade, put in place various safety and security measures for card payments, including the requirement of AFA, especially for ‘card-not-present’ transactions.
  • Under e-mandate, an individual can give standing instruction to the bank to debit a specific amount automatically on recurring basis.

Canara HSBC Life rebrands due to PNB exit 
Canara HSBC OBC Life has renamed itself as Canara HSBC Life following its third partner Punjab National Bank’s (PNB’s) decision to exit.

  • PNB had acquired a stake in the company following the amalgamation of Oriental Bank of Commerce (OBC). Canara Bank sees a lot of potential in the life insurance business.
  • Currently, Canara Bank holds 51% in the insurance arm, HSBC holds 26% and PNB 23%. Following PNB’s decision to exit, the stake is likely to be acquired by existing shareholders.

World’s central banks unleash most hawkish campaign since 1980s
The world’s central bankers are unleashing what may prove to be the most aggressive tightening of monetary policy since the 1980s, risking recessions and roiling financial markets as they rush to tackle the surge in inflation they didn’t see coming.

  • world’s central bankers are unleashing what may prove to be the most aggressive tightening of monetary policy since the 1980s, risking recessions and roiling financial markets as they rush to tackle the surge in inflation they didn’t see coming.
  • Switzerland unexpectedly raised rates the next day, while the Bank of England hiked shortly after by 25 basis points for a fifth time and signaled it will soon double the pace.

India’s UPI And RuPay Cards To Be Accepted In France Soon As NPCI Signs Pact With French Payment Service Provider
After Singapore, UAE, Nepal and Bhutan, India’s Unified Payments Interface (UPI) and RuPay cards are going to make their services available in France, as confirmed by the Union Communication minister Ashwini Vaishnaw.

  • The National Payments Corporation of India International (NPCI International), the international arm of National Payments Corporation of India (NPCI) has signed a memorandum of understanding (MoU) with Lyra Network, a French payment solutions company.
  • As part of the MoU, Lyra Networks will allow Indians to pay using UPI and Rupay cards at terminals and machines offered by Lyra Networks, making it easier especially for students and tourists from India to make payments.

RBI lifts restrictions on Mastercard over onboarding new customers
The Reserve Bank of India (RBI) has lifted the business restrictions it imposed on Mastercard APAC, allowing it to resume card issuance in the country.

  • RBI had imposed restrictions on Mastercard in July 2021, preventing it from onboarding new domestic customers (credit, debit or prepaid) onto its card network, for not complying with its 2018 circular on storing payment systems data in India.


BUSINESS & ECONOMY

HSBC India to lend $250 million to high-growth, tech-led startups
Foreign lender HSBC India announced that it will lend USD 250 million to startups in the country.The bank did not specify the timeframe for disbursal of the amount.

  • The lending will be done to high-growth, tech-led startups in the third largest startup ecosystem in the world, the lender said in a statement.
  • The lending, which comes amid increased focus on startups’ debt needs by financial intermediaries locally and a ‘funding winter’ impacting equity funding to the sector, will be managed by the lender’s commercial banking vertical.

LinkedIn, UN Women join hands to create employment opportunities for women
LinkedIn, the world’s largest professional network, said it will invest USD 5,00,000 (Rs 3.88 crore) in partnership with UN Women to advance women’s economic empowerment.

  • The project will launch a pilot in Maharashtra to cultivate the digital, soft and employability skills of 2,000 women and present them with a range of career-building opportunities through job fairs, mentoring sessions and peer-to-peer networks, a statement said.
  • The three-year regional collaboration will digitally upskill women, providing them greater access to jobs and equipping them to fully participate in the formal economy.

Jio-bp and Zomato tie-up to accelerate EV adoption 
Zomato and Jio-bp have entered into an agreement to support Zomato’s commitment towards “The Climate Group’s EV100 initiative of 100 per cent EV fleet by 2030.”

  • The collaboration is poised to accelerate EV adoption in the rapidly growing Indian delivery and transportation segment, TechRadar said in its report.
  • Jio-bp, the fuel and mobility joint venture between Reliance Industries Ltd and bp, will provide EV mobility services to Zomato and access to ‘Jio-bp pulse’ battery swapping stations for last-mile delivery.


APPOINTMENTS

ICC retains Nitin Menon in Elite Panel
Renowned Indian umpire Nitin Menon has retained his place in the ICC Elite Panel of umpires, making him the only Indian among 11 members. The 38-year-old is set to make his debut as a neutral umpire where he will officiate in Sri Lanka later this month.

  • The International Cricket Council (ICC) recently gave a one-year extension to Menon who has been a leading umpire over the last three to four years.
  • He was promoted to the Elite Panel at the start of the Covid-19 pandemic in 2020, becoming the third Indian to enter the club after S Venkataraghavan and S Ravi.

Hamza Abdi Barre appointed as PM of Somalia
Somalia’s President Hassan Sheikh Mohamud has appointed a former chairman of the Jubbaland state election commission, Hamza Abdi Barre as the Prime Minister. 

  • The 48-year-old Hamza Abdi Barre from the semi-autonomous state of Jubaland replaced Mohamed Hussein Roble.
  • Barre served in a number of public and political roles and from 2011 to 2017 was secretary-general of the Peace and Development Party (PDP), the precursor to the Union for Peace and Development (UDP) now led by Mohamud.


SCIENCE & TECHNOLOGY

China launches third most advanced domestically built aircraft carrier ‘Fujian’
China launched its third aircraft carrier named ‘Fujian’, the country’s most advanced as well as the first “fully domestically built” naval vessel, as an aggressive Beijing sought to project its naval power in the strategic Indo-Pacific region.

  • The launch of the ship was delayed by two months due to the COVID lockdown of Shanghai. It was due to be launched on April 23 around the 73rd anniversary of the People’s Liberation Army Navy (PLAN).
  • China’s first aircraft carrier, the ‘Liaoning’, was a refit of the Soviet-era ship commissioned in 2012 followed by the indigenously built 2nd aircraft carrier ‘Shandong’ in 2019. Liaoning and Shandong are names of two provinces of China. China plans to have around five aircraft carriers, according to the official media.


ENVIRONMENT

Scientists discover ‘biggest plant on Earth’ off Western Australian coast
Researchers have discovered the world’s largest plant, which is three times the size of Manhattan. Interestingly, the world’s largest plant was not found on land, but scientists discovered it in the shallow waters of Shark Bay, near Carnarvon in Western Australia.

  • Genetic testing carried out by researchers revealed that the giant plant had sprouted from a single seed at least 4,500 years ago. 
  • The findings of the study were published in the Royal Society B. The plant is regarded as the largest plant to exist on earth.


OBITUARIES

Gopi Chand Narang, the Renaissance Man of Urdu, passes away
Eminent Urdu scholar, literary critic and former chairperson of Sahitya Akademi, professor Gopi Chand Narang passed away in the United States, June 15 at the age of 91.

  • He worked extensively on explaining and analysing the works of Ghalib, Mir Taqi Mir and later Faiz Ahmad Faiz and Firaq Gorakhpuri. He penned about 60 books, and also designed 10 books for children under the title Let’s Learn Urdu in English and Hindi.
  • He was awarded the prestigious Sitara-i-Imtiaz (Star of Excellence) (2012) by the Government of Pakistan and Padma Bhushan (2004) and Padma Shri (1990) by the Government of India. As per news reports, he is the only Urdu writer to be honoured by the presidents of both India and Pakistan.


Click here to read Daily Current Affairs

Related posts

/