Daily Current Affairs 8 June 2022 for Banking/Insurance/SSC and other related exams.
Week-long ‘Sital Sasthi’ festival being celebrated in Odisha
Sital Sasthi is a sacred Hindu festival is being celebrated in Odisha. This week-long special festival highlights the marriage of Lord Shiva and Goddess Parvati. According to the Hindu calendar, Sital Sasthi is observed on the sixth day of the Jyestha month during the Shukla Paksha.
- People observing this festival believe that Lord Shiva represents the scorching heat of summer while Goddess Parvati signifies the first rain. So, this holy and lavish wedding is observed for a good monsoon.
- Sital Sasthi is a celebration wherein Lord Shiva and Goddess Parvati are adopted by two families, and their wedding is solemnised with the involvement of ritual.
Union Minister Shri Bhagwant Khuba launches NSEFI’s Pan-India Rooftop Solar Awareness Campaign
Shri Bhagwant Khuba, Minister of State for New and Renewable Energy launched the Pan-India Rooftop Solar Awareness Campaign in an event at Bidar, Karnataka.
- The campaign titled “GHAR KE UPAR SOLAR IS SUPER” shall aim at mobilizing local government, citizens, RWAs, and Municipalities to spread awareness of Solar Rooftop. Shri Khuba spoke about growth of RE sector in India.
- Highlighting Panchamrit targets set by Modiji, Shri Khuba said that ministry is working towards achieving target of 500 GW of non-fossil by 2030. He added that rooftop solar will play major role and Tier-2 & Tier-3 cities offer maximum potential in achieving this target. He said that Karnataka alone has the potential of 1 GW rooftop solar.
Tamil Nadu CM flags off luxury cruise liner “Empress” from Chennai port
Tamil Nadu Chief Minister MK Stalin flagged off the luxury cruise liner “Empress” from Chennai port. The eleven-storey tourist vessel can accommodate up to two thousand passengers and about 800 crew members.
- The packages include going to the high seas from the city port and to return, and also to anchor at Puducherry and Visakhapatnam harbours, as said by the operator.
- The three different packages consist of two, three and five days. The vessel has a swimming pool, children’s play area, gym, theatre and a multi-cuisine restaurant, as said by its operator Cordelia. This is considered the first luxury cruise liner to be operated from the state.
Blue Duke declared as the State Butterfly of Sikkim
Sikkim Chief Minister Prem Singh Tamang on the occasion of World Environment Day declared Blue Duke the state butterfly.
- Of the 720 species of butterflies found in Sikkim, Blue Duke was selected as the state butterfly securing 57 per cent votes in a recent online poll conducted by the Forest Department.
- Blue Duke, which goes by the scientific name Bassarona durga durga, is unique to Sikkim and the eastern Himalayas. It was discovered in the state in 1858.
BANKING & FINANCE
ICICI Home Finance enters into co-lending partnership with Easy Home Finance
ICICI Home Finance Company Limited (ICICI HFC) has entered into a co-lending partnership with Easy Home Finance Ltd (EASY), a leading mortgage tech company, to disburse affordable home loans in the country.
- This partnership will leverage ICICI HFC‘s expertise in the affordable housing segment and EASY’s tech capabilities to enable disbursement of affordable home loans.
Bajaj Finance launches financial education initiative ‘Har Time EMI On Time’
Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, a leading conglomerate in financial services, has launched its public awareness initiative ‘Har Time EMI On Time’, a digital campaign to drive awareness around the need and benefits of adopting good financial habits for a healthy financial future.
- The campaign seeks to educate the public at large about the benefits of paying their monthly loan EMIs on time and the negative side effects of missing their loan payments on their overall financial health in the long run.
- The campaign also focuses on the importance of adopting a disciplined habit of ensuring to adhere to payment commitments in order to enjoy the benefits of various financial offerings available in the market.
RBI increases repo rate by 50 basis points to 4.90%
The Reserve Bank of India increased the repo rate by 50 basis points to 4.90%. The current repo rate is 4.40% after the rates were increased by 40 basis points at an off-cycle meeting of the Monetary Policy Committee.
- Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.65%; and the marginal standing facility (MSF) rate and the Bank Rate to 5.15%.
- The central bank forecasts 6.7 percent inflation, while the real GDP growth rate is pegged at 7.2 percent.
- Credit cards to be linked with UPI; RuPay credit cards to be linked first
- Lending limits for housing loans by co-op banks doubled
- Rural co-op banks permitted to lend to commercial Real Estate – Residential Housing (CRE-RH) sector
- Urban Co-op banks allowed to offer door-step banking
- e-mandates on cards for recurring payments enhanced to ₹15,000 from ₹5,000.
BUSINESS & ECONOMY
Manipur Handloom & Handicrafts Development Corporation signs MoU with Amazon
Manipur Handloom & Handicrafts Development Corporation (MHHDC) signed a Memorandum of Understanding (MoU) with e-market platform, Amazon at Imphal. Now the finished handloom & handicraft products of Manipur will be available on Amazon.
- The representatives of the Manipur State government and Amazon Sellers Private Ltd signed the MoU at the opening function of Manipur Heritage Expo, 2022 which was inaugurated by Chief Minister N. Biren Singh.
India’s forex reserves rise above USD 600 billion mark again
India’s foreign exchange (forex) reserves for the week ended May 27 rose by USD 3.854 billion to USD 601.363 billion led by a sharp increase in the country’s foreign currency assets, the Reserve Bank of India (RBI) data showed.
- The country’s forex reserves have risen sharply for the second consecutive week after falling for 10 straight weeks. The forex reserves had jumped by USD 4.23 billion during the week ended May 20.
- According to the Reserve Bank of India’s weekly statistical supplement, all the components of the forex reserves rose during the week ended May 27 led by a sharp jump in the foreign currency assets.
Avni Lekhara wins gold at Para Shooting World Cup
Avani Lekhara bagged a gold medal with a world record score of 250.6 in Women’s 10m Air Rifle standing SH1 at the Chateauroux Para Shooting World Cup to secure a place at the Paris Paralympics 2024.
- Tokyo Olympics gold medallist shooter Avani Lekhara broke her own world record of 249.6.
- Poland’s Emilia Babska bagged the silver medal with a total of 247.6, while the bronze was won by Anna Normann of Sweden with a total of 225.6. SH1 category is for athletes with lower limb impairment for competition in rifle events.
Multinational Peacekeeping exercise ‘Ex Khaan Quest 2022’ commences in Mongolia
A multinational peacekeeping exercise- Ex Khaan Quest 2022 featuring participation from military contingents from 16 countries including India commenced in Mongolia.
- The Defence Ministry said, Indian Army is represented by a contingent from the Ladakh Scouts. The 14-day exercise is aimed at enhancing interoperability, building military to military relationships, developing peace support operations and military readiness among participating nations.
- The military exercise will enhance the level of defence co-operation among participating countries.
Garuda Aerospace picks farmer MS Dhoni as shareholder, brand ambassador
Drone startup Garuda Aerospace has appointed cricketer Mahendra Singh Dhoni as the company’s firm’s brand ambassador, the company announced. The cricketer will also be one of their shareholders.
- The Chennai-based startup had recently announced its plans to support agriculture. The company said in April that it was working on a model to sell drones to village-level entrepreneurs or pesticide and fertilisers retailers.