- National:
- The Department of Economic Affairs (DEA), Ministry of Finance (MoF) has announced an interest rate hike on selected small savings schemes by up to 0.3% for the 2nd quarter of the financial year 2023-24 (Q2 FY24) (i.e July 1, 2023-September 30, 2023).
- The Power Ministry has notified the Carbon Credit Trading Scheme, 2023 to develop India’s first domestic carbon market. The scheme aims to decarbonize the economy and help India achieve its goal of reducing emissions by 45% from the 2005 levels by 2030
- On June 30th, 2023, the Ministry of Defence signed a contract for Medium Refit with Life Certification (MRLC) of Sub-Surface Killer (SSK) Class of Submarine “INS Shankush” with Mazagon Dock Shipbuilders Limited (MDL) at an overall cost of Rs. 2725 Cr
- India’s first indigenously developed 700 MW nuclear power reactor at the Kakrapar Atomic Power Project (KAPP) in Gujarat started commercial operations on 30th June 20231. The reactor is currently operating at 90 per cent of its total power capacity
- The 193 member states of the United Nations’ cultural agency UNESCO are expected to back the United States’ return to the organisation almost five years after then-President Donald Trump withdrew over accusations of anti-Israel bias and mismanagement
- The World Bank has approved USD 1.5 billion in financing to accelerate India’s low-carbon energy infrastructure. The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen, and stimulating climate finance for low-carbon energy investments.
- Virgin Galactic completed its first commercial spaceflight, called Galactic 01, on June 29, 2023. The mission flew from Spaceport America in New Mexico carrying four passengers and 13 experiments for collecting medical and cosmic radiation data and studying fluid dynamics
- India added 664 animal species to its faunal database in the year 2022. These comprise 467 new species and 197 new records (species found in India for the first time).
- The Ministry of Women and Child Development (MWCD), Government of India organized a one-day Regional Symposium on Child Protection, Safety, and Child Welfare at Vigyan Bhawan, New Delhi.
- Zoological Survey of India (ZSI) celebrated its 108th ZSI Day with a special focus on ‘Mission Life’. The Union Minister for Environment & Forest and Climate Change and Labour and Employment, Shri Bhupender Yadav, inaugurated the three-day celebration programme of the 108th ZSI day in Kolkata.
- World:
- Elon Musk, Twitter’s Executive Chair, has announced new daily tweet reading limits on Twitter, citing concerns over aggressive data scraping and system manipulation
- Pedro Sánchez Pérez-Castejón is a Spanish politician who has been serving as the Prime Minister of Spain since June 2018. He has also been the Secretary-General of the Spanish Socialist Workers’ Party (PSOE) since June 2017, having previously held that office from 2014 to 2016
- Sri Lanka’s parliament has approved a domestic debt restructuring plan that is crucial to continue a $2.9 billion bailout from the International Monetary Fund (IMF). The plan passed with a majority of 122 votes in the 225-member parliament
- The United Arab Emirates, the French Republic and the Republic of India have issued a joint statement announcing the establishment of a trilateral cooperation initiative and the roadmap to begin its implementation
- Sports:
- Olympic champion Neeraj Chopra clinched the prestigious Diamond League title for the second consecutive time by throwing his spear to 87.66m in Lausanne. He had won the season-opening Diamond League in Doha on May 5 with a throw of 88.67m.
- India defeated Lebanon 4-2 in the semi-final of the SAFF Championship in Bengaluru. The match entered into a penalty shootout as none of the teams could score any goal even in the regular time as well as the extra-time.
- Indian tennis player Yuki Bhambri clinched his first ATP Tour title after winning the Mallorca Open 2023 men’s doubles final in Spain on Saturday.
- Important Days:
- 75th National Chartered Accountants Day was celebrated on July 1, 2023, to commemorate the founding of the Institute of Chartered Accountants of India (ICAI).The theme for the year 2023 is ‘Empowering Financial Excellence’.
- 1st July 2023 marks the observance of the 6th Goods and Services Tax (GST) Day which commemorates the 6th anniversary of GST coming into force (1st July 2017).
- Appointments:
- According to a regulatory filing, shareholders approved an ordinary resolution to appoint Rajib Kumar Mishra as Chairman and Managing Director (CMD) of PTC India at the seventh Extra Ordinary General Meeting (EGM) held on June 28, 2023.
- Obituary:
- Alan Arkin, the Oscar-winning actor, has passed away at the age of 89. He was a uniquely talented force of nature, both as an artist and a man. He won an Academy Award for his performance as a foul-mouthed grandfather in Little Miss Sunshine (2006).
- Banking:
- The merger between Housing Development Finance Corporation Ltd. (HDFC) and HDFC Bank came into effect on July 1st, 2023. This created the world’s fourth-biggest bank by market value behind J P Morgan, ICBC, and Bank of America.
- According to a notification issued by the finance ministry, payments made using international credit cards (ICC) during overseas visits will not attract Tax Collected at Source (TCS).
- State-owned Bank of Baroda (BoB) plans to sell up to 49% stake in its credit card business arm BOB Financial Solutions Ltd. Currently, it is 100% owned by BoB.
- Indian Bank has launched several digital services under its Project WAVE initiative.In partnership with National E-Governance Service Limited (NeSL), Indian Bank has also rolled out e-BG (electronic bank guarantee) services under Project WAVE to reduce the number of old paper-based processes.
- Awards:
- Filmmaker Kartiki Gonsalves, the director of the Oscar-winning documentary ‘The Elephant Whisperers’ received the Tara Award from King Charles III and Queen Camilla. The award is inspired by the sacred bond between elephants and humans to recognize extraordinary achievements in storytelling and advocacy for coexistence.
Questions:
Q.1 When is the 6th Goods and Services Tax (GST) Day observed?a. 1st June
b. 1st July
c. 1st August
d. 1st September
Q.2 What percentage of stake does Bank of Baroda plan to sell in its credit card business arm BOB Financial Solutions Ltd?
a. 25%
b. 49%
c. 75%
d. 100%
