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Current Affairs One - Liner : 20th June 2024

Published on June 20, 2024
  • National:
    • On June 6, 2024, the Government of India (GoI) introduced the “Offshore Areas (Existence of Mineral Resources) Rules, 2024”. These regulations provide a structured approach to evaluating offshore mineral resources, including construction-grade silica sand, non-construction-grade calcareous sand, phosphatic sediments, and rare earth element (REE) minerals.
Current Affairs One - Liner : 20th June 2024
    • The Gambia have extended their Memorandum of Understanding (MoU) on “Refurbishing Personnel Administration and Governance Reforms” for another five years, starting from July 8, 2024. This MoU aims to strengthen the partnership between the two countries by sharing best practices related to administrative reforms, good governance webinars, research publications, and capacity-building programs.
    • Sankara Eye Foundation, India recently inaugurated the first-of-its-kind Innovation Lab for Eye Care in Coimbatore, Tamil Nadu on 20th June 2024. Supported by G.D. Naidu Charities, this pioneering lab aims to revolutionize eye care services across India, even in remote areas.
    • On June 20, 2024, Prime Minister Narendra Modi laid the foundation stone for 84 major developmental projects in Jammu and Kashmir, collectively worth over ₹32,000 crore. These projects span various sectors, including health, education, rail, road, aviation, petroleum, and civic infrastructure.
  • International:
    • Nvidia has recently claimed the title of the world’s most valuable public company. With a market capitalization surpassing $3.34 trillion, it has outpaced both Microsoft and Apple. This remarkable ascent is largely attributed to Nvidia’s dominance in the field of generative artificial intelligence.
    • Wärtsilä launched the world's first large-scale power plant that can run entirely on hydrogen. This engine is based on their efficient Wärtsilä 31 platform and is designed to support clean energy goals. It can also run on natural gas and hydrogen blends for flexibility.
  • Banking:
    • The Indian government successfully monetized ₹1.56 lakh crore worth of assets under the National Monetisation Pipeline (NMP) during the fiscal year 2023-24. This initiative aims to unlock value from public infrastructure assets and enhance economic growth.
    • During the fiscal year 2023-24, India’s gold and silver imports from the United Arab Emirates (UAE) surged by 210% to reach $10.7 billion. This significant increase was driven by import duty concessions granted under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). Notably, India allows a 7% tariff concession on unlimited silver quantities and a 1% concession on 160 metric tonnes of gold.
    • Federal Bank did launch the RuPay Wave credit card in collaboration with the National Payments Corporation of India (NPCI). It's a unique card that combines the benefits of UPI payments with the features of a RuPay credit card.
    • The board of Axis Bank has approved an increase in its stake in Max Life Insurance for ₹336 crore. This will raise Axis Bank’s stake to 19.99% from the existing 19.02%. The transaction is expected to be completed within 2-3 months, subject to regulatory approvals.
    • The Reserve Bank of India (RBI) recently cancelled the license of Mumbai-based The City Co-operative Bank due to inadequate capital and non-compliance with regulatory norms. This decision, effective from the close of business on June 19, 2024, marks the cessation of the bank’s operations.
  • Science & technology:
    • The Ophichthus Suryai is a newly discovered species of snake eel found off the coast of Odisha, India. Scientists from the Zoological Survey of India identified it through DNA tests. Its unique characteristics set it apart from other eels.
    • In June 2024, a global team of scientists developed a water-repellent “spherical superhydrophobic activated carbon catalyst” for biodiesel production. Derived from biomass (specifically cellulose), this innovative catalyst significantly reduces the cost of biodiesel production by withstanding water by-products, making sustainable energy more accessible.
  • Reports:
    • The Stockholm International Peace Research Institute (SIPRI) releases a yearly report called the SIPRI Yearbook, published by Oxford University Press. The most recent edition, SIPRI Yearbook 2024, was released on June 17, 2024. It estimates that India has around 172 nuclear warheads compared to Pakistan's 170, highlighting a global trend of increased reliance on nuclear deterrence amidst deteriorating geopolitical relations.
    • According to Kroll’s 2023 Celebrity Brand Valuation Report, Indian cricketer Virat Kohli has reclaimed the top position in brand value. His brand value stands at an impressive $227.9 million, surpassing Bollywood star Ranveer Singh, who holds the second spot with a brand value of $203.1 million.
  • Important Days:
    • The International Day for the Elimination of Sexual Violence in Conflict, observed on June 19, 2024, aimed to raise awareness about the horrific use of sexual violence in war. The theme for 2024 was: "Attacks against health care in conflict-affected areas: Impacts for survivors of conflict-related sexual violence."
    • National Reading Day in India was indeed celebrated on June 19, 2024. It's observed annually to honor Puthuvayil Narayana Panicker, a champion for literacy and libraries who is known as the "Father of India's Library Movement". The day encourages people to pick up a book and rediscover the joy of reading.

Questions:

1 Where is the Innovation Lab for Eye Care located?

  • A) Chennai, Tamil Nadu
  • B) Coimbatore, Tamil Nadu
  • C) Bengaluru, Karnataka
  • D) Hyderabad, Telangana

2 What was the percentage increase in India’s gold and silver imports from the UAE during 2023-24?

  • A) 110%
  • B) 150%
  • C) 210%
  • D) 250%
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