Current Affairs One - Liner : 14th June 2024

On June 11, 2024, the Competition Commission of India (CCI) approved the acquisition of Global Infrastructure Management, LLC (GIM) by BlackRock Funding, Inc. (BFI), a significant event in the global investment management sector. BFI, a newly formed subsidiary of BlackRock Inc., will acquire 100% ownership of GIM.

On June 12, 2024, the Centre approved the Uttarakhand government’s proposal to rename two tehsils to reflect their historical and spiritual significance. Joshimath, located in Chamoli district, has been renamed to Jyotirmath, which is associated with its ancient name and religious importance.
India is the second-largest emitter of nitrous oxide globally, with agricultural activities being the primary source. This accounts for nearly 11% of the world’s man-made emissions, with China leading at 16%.
The Indian government has imposed restrictions on the import of certain types of gold-studded jewellery and parts. This includes items studded with pearls, diamonds, and other precious stones. The restrictions are a response to an unusual surge in imports, which saw a 30 times increase to $1.55 billion in FY24 from $51.51 million a year ago. Importers now require government approval and will incur a 15% duty on these items.

Motilal Oswal AMC has launched the Motilal Oswal Nifty India Defence Index Fund, which is an open-ended fund replicating/tracking the total returns of the Nifty India Defence Index. The New Fund Offer (NFO) opened on 13th June 2024 and will close on 24th June 2024.
Aurionpro Payment Solutions, a subsidiary of Aurionpro, received final authorization from the Reserve Bank of India (RBI) on June 13, 2024, to operate as an online payment aggregator under the Payments Settlements Act, 2007. This approval enables them to provide digital payment services across India through their payment gateway brand AuroPay.
The Insurance Regulatory and Development Authority of India (IRDAI) has made it possible for retail policyholders to cancel their insurance policy at any point during its term. Upon cancellation, policyholders are entitled to a refund for the balance of the policy period. The insurer is not required to provide reasons for the cancellation initiated by the policyholder.

Indeed, retail inflation in India has eased to a one-year low of 4.75% in May 2024, down from 4.83% in April 2024. This decline is attributed to a marginal decrease in the prices of some kitchen items.
The State Bank of India’s (SBI) balance sheet has grown to ₹62 lakh crore in FY24, which is more than the GDP of 174 countries worldwide and equivalent to 21% of India’s GDP, as reported by Motilal Oswal Financial Services Ltd (MOFSL).
In FY24, India Inc’s profit-to-GDP ratio has soared to a 15-year high. The ratio for Nifty 500 companies rose to 4.8%, up from 4% in FY23, while for the entire listed universe it stood at 5.2%. This growth in profitability was led by sectors such as BFSI (banking, financial services and insurance), oil and gas, and automobile, which contributed significantly to the total improvement.

The Indian Navy launched the ‘Missile Cum Ammunition Barge, LSAM 13 (Yard 81)’, which is the fifth barge of a project that includes eight Missile Cum Ammunition Barges. This barge was built by SECON Engineering Projects Pvt Ltd in Visakhapatnam and was launched on June 10, 2024, at Vinayaga Marine Petro Ltd in Mira Bhayandar, Maharashtra
AXISCADES Technologies Ltd. has commenced the delivery of the Man Portable Counter Drone System (MPCDS) to the Indian Army, with an order valued at Rs 100 Crores. This system represents a significant advancement in India’s defense capabilities, emphasizing self-reliance in military technology.

The FIDE U-20 World Chess Championship 2024 was held from 1st to 14th June at Radisson GIFT City in Gandhinagar, Gujarat, India. Divya Deshmukh triumphed in the girls’ section, while Kazybek Nogerbek won in the open section.

Ajit Doval has been reappointed as India’s National Security Adviser (NSA) on June 13, 2024, by the central government. His new term will be aligned with the tenure of Prime Minister Narendra Modi, and he will hold the rank of a cabinet minister.
Harsh Pati Singhania, Vice Chair and Managing Director of JK Paper Ltd in India, has been elected as the First Vice-Chair of the International Chamber of Commerce (ICC) during the World Council meeting held on June 11 in Paris, France. Alongside him, Philippe Varin, Chair of ICC France, was elected as Chair.
Dr. P.K. Mishra, a former IAS officer, has been re-appointed as the Principal Secretary to Prime Minister Narendra Modi, with his term beginning on June 10, 2024. This appointment by the Appointments Committee of the Cabinet will last either until the end of PM Modi’s term or until further orders are issued.
Dr. Kapil Dua was appointed as the President of the Asian Association of Hair Restoration Surgeons on June 13, 2024. He has over 20 years of experience in hair transplant surgery and has held prestigious positions in national and international hair restoration societies.

“A Fly on the RBI Wall” by Alpana Killawala offers an insider’s perspective on the Reserve Bank of India. It recounts her experiences and challenges in managing the bank’s communication during pivotal events like the Harshad Mehta scam and economic reforms of the 1990s. The book is a candid reflection on her journey and the workings of the RBI.
Ravichandran Ashwin's autobiography just came out on June 10th, 2024. Titled "I Have the Streets: A Kutti Cricket Story", the book dives into Ashwin's life before the big leagues. Co-written with author Sidharth Monga.
“Viswasapoorvam” is the autobiography of esteemed Islamic scholar A. P. Aboobacker Musliyar, which was released by Kerala Chief Minister Pinarayi Vijayan on June 12, 2024. The event was marked by MP Shashi Tharoor receiving the first copy of the book.

Questions:

1 Who is the author of the book "A Fly on the RBI Wall"?

2 Approximately what percentage of the world's man-made nitrous oxide emissions does India contribute?