20 June 2024 Current Affairs in English

Today’s Current Affairs – 20 June 2024

20 June 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 20 June 2024 Current Affairs is essential for students who are preparing for exams, especially competitive exams, as it forms an important part of the syllabus. The importance of the 20 June Current Affairs 2024 lies in its ability to help students enhance their general knowledge, improve their reading and comprehension skills, and develop their critical thinking abilities.

20th June Daily Current Affairs 2024

20 June 2024 Current Affairs also provides students with insights into issues such as politics, economics, and social issues that are important for their overall development as informed citizens. Regularly reading and analyzing the 20 June 2024 Current Affairs not only helps students ace their exams but also prepares them for their future roles as responsible and well-informed citizens of society.

World Refugee Day 2024

World Refugee Day is a special day recognized by the United Nations to show respect and appreciation for refugees worldwide. It takes place on June 20th every year. It is a time to acknowledge the bravery and determination of individuals who have been compelled to leave their homeland due to war or mistreatment.

The official theme for World Refugee Day 2024 is “For a World Where Refugees Are Welcomed”. Read the complete article here.

MSDE partners with the Australian Government to energize the Agriculture Sector of India with emerging skills

The Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with the Australian Government, hosted a comprehensive and productive roundtable to discuss the learnings from the Australia-India Critical Agriculture Skills Pilot Project.

The findings were shared with MSDE and the Australian Government and subsequently 107 emerging job roles were mapped to identify the 5 critical emerging job roles in the agriculture sector for the pilot projects. The six pilot projects nearing completion have been implemented in 4 states, Andhra Pradesh, Maharashtra, Tamil Nadu, and Telangana.

9 Major Ports of India make it to the Global Top 100 by World Bank, a First for the country

In a significant boost to India’s port development program, as many as 9 ports of India made it to the Global Top 100 in the latest edition of Container Port Performance Index (CPPI), 2023 – a report prepared by the World Bank and S&P Global Marketing Intelligence. Vishakhapatnam Port has showcased strong performance with 27.5 moves per crane hour.

These metrics highlight the port’s efficiency in handling container ships and significantly influence customer preference. Seven other Indian ports, that secured ranks in the top 100, are Pipavav (41), Kamarajar (47), Cochin (63), Hazira (68), Krishnapatnam (71), Chennai (80), and Jawaharlal Nehru (96).

CERT-In & Mastercard India Collaborate To Enhance Cybersecurity In the Financial Sector

Indian Computer Emergency Response Team (CERT-In) and Mastercard India have signed a MoU for collaboration in cyber security to enhance India’s cyber-resilience in the financial sector. The Ministry of Electronics and Information Technology said the two entities will leverage their shared expertise to strengthen the financial sector’s cybersecurity incident response.

Mastercard and CERT-In will hold training programs and workshops for cyber capacity building, the latest market trends, and best practices to enhance the cyber security of financial sector organizations. The two entities will also share relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports to strengthen the financial sector.

Government Approves Increase In Minimum Support Prices For 14 Kharif Crops

The Union Cabinet announced minimum support price (MSP) for 14 Kharif season crops including paddy, ragi, bajra, jowar, maize, and cotton which will have a financial implication of Rs 2 lakh crore for the government and entail a gain of Rs 35,000 crore to farmers over the previous year.

The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses. The increase in MSP for Kharif Crops for Marketing Season 2024-25 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times of the All-India weighted average cost of production.

Cabinet approves Viability Gap Funding (VGF) scheme for implementation of Offshore Wind Energy Projects

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects at a total outlay of Rs. 7453 crore, including an outlay of Rs. 6853 crore for installation and commissioning of 1 GW of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu), and grant of Rs. 600 for the upgradation of two ports to meet logistics requirements for offshore wind energy projects.

The VGF scheme is a major step towards implementation of the National Offshore Wind Energy Policy notified in 2015 with an aim to exploit the vast offshore wind energy potential that exists within the exclusive economic zone of India.

Cabinet approves Central Sector Scheme “National Forensic Infrastructure Enhancement Scheme” (N.F.l.E.S.)

The Union Cabinet has approved the proposal of the Ministry of Home Affairs for the Central Sector Scheme “National Forensic Infrastructure Enhancement Scheme” (NFIES) with a total financial outlay of Rs. 2254.43 crore during the period from 2024-25 to 2028-29. The financial outlay of the Central Sector Scheme will be provisioned by the Ministry of Home Affairs from its own budget.

The Cabinet has approved the following components under this Scheme:

1. Establishment of Campuses of the National Forensic Sciences University (NFSU) in the country.
2. Establishment of Central Forensic Science Laboratories in the country.
3. Enhancement of existing infrastructure of the Delhi Campus of the NFSU.

With the enactment of the New Criminal Laws which mandates forensic investigation for offenses involving punishment of 7 years or more, a significant increase in the workload of forensic science laboratories is expected. Further, there is a significant shortage of trained forensic manpower in the Forensic Science Laboratories (FSL) in the country.

RBI cancels license of Mumbai-based The City Co-operative Bank

The Reserve Bank of India (RBI) on 19th June canceled the license of The City Co-operative Bank, Maharashtra for lacking adequate capital and earning prospects. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been asked to issue an order for winding up the bank and appoint a liquidator, RBI said.

On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh only from Deposit Insurance and Credit Guarantee Corporation (DICGC). As per the data submitted by the bank, about 87% of the depositors are entitled to receive the full amount of their deposits from DICGC,” RBI said.

RBI grants Payment Aggregator license to SabPaisa

SabPaisa (SRS Live Technologies Private Limited), a payment solutions provider has announced that it has received final approval from the Reserve Bank of India (RBI) to function as a Payment Aggregator (PA) under the Payments and Settlement Systems Act, 2007. The license will allow SabPaisa to offer comprehensive payment aggregation services to merchants across the country.

Since its establishment in 2016, SabPaisa has been offering innovative payment gateway solutions and related products such as Payouts and Subscriptions. Introduced in March 2020, RBI’s payment aggregator framework mandates that only authorized entities can provide payment aggregation services to merchants.

IPPB partners with Ria Money Transfer to enhance doorstep financial services nationwide

India Post Payments Bank has partnered with Ria Money Transfer, a global leader in cross-border money transfers to provide convenient and affordable doorstep financial services to customers in remote areas across the country. The partnership will enhance access to banking services at customers’ doorsteps, allowing them to withdraw only the amounts they need immediately.

Cabinet approves offshore wind energy projects in Gujarat, Tamil Nadu with a total outlay of Rs 7,453 cr

The Union Cabinet has taken a landmark decision by approving India’s first offshore wind energy project. These will be 1GW offshore wind projects, 500 MW each (off the coast of Gujarat and Tamil Nadu). The Union Cabinet approved 1 GW offshore wind energy projects in Gujarat and Tamil Nadu with a total outlay of Rs 7,453 crore.

The successful commissioning of 1 GW offshore wind projects will produce renewable electricity of about 3.72 billion units annually, which will result in an annual reduction of 2.98 million tons of CO₂ equivalent emission for a period of 25 years, as per the government.

The Viability Gap Funding (VGF) scheme for offshore wind energy projects includes an outlay of Rs. 6853 crore for the installation and commissioning of 1 GW of offshore wind energy projects and a grant of Rs. 600 crore for the upgradation of two ports to meet logistics requirements for offshore wind energy projects.

The VGF scheme is a step towards implementation of the National Offshore Wind Energy Policy notified in 2015 with an aim to exploit the vast offshore wind energy potential that exists within the exclusive economic zone of India.

Cabinet Approves Rs 76,000-Crore All-Weather Vadhavan Port In Maharashtra

The Union Cabinet met for the first time in the third tenure of the Narendra Modi government and approved the construction of an all-weather greenfield deep draft port at Vadhavan near Dahanu, nearly 110 km from Mumbai, in Maharashtra, with a budget of Rs 76,000 crore.

The port will be developed by Vadhavan Port Project Ltd.—a joint venture between Jawaharlal Nehru Port Authority Ltd., which will hold a 74% stake, and Maharashtra Maritime Board, which will hold the remainder—in two phases under the landlord model. The budget includes the project’s land acquisition costs.

Upon completion, Vadhavan Port is poised to rank among the top ten ports globally. A ‘deep draft’ describes a port that can accommodate large vessels such as big cargo ships. Vadhavan port is declared the 13th major port as part of the Indian government’s Sagarmala initiative, which aims to make Indian ports major contributors to GDP.

Union Cabinet approves Rs 2869.65 crore for the development of Varanasi’s Lal Bahadur Shastri International Airport

The Union Cabinet, chaired by Prime Minister Narendra Modi approved a comprehensive development plan for Lal Bahadur Shastri International Airport in Varanasi, with a projected cost of Rs 2869.65 crore. The Airports Authority of India will oversee the project, which aims to significantly enhance the airport’s passenger handling capacity.

Trend upshift in growth post-pandemic rises to 8% in 2021-24: RBI Report

With India’s economic growth averaging over 8% in 2021-24 as compared to 7% during 2003-19, the Reserve Bank of India’s State of the Economy Report said there is a shift in the trend growth rate post the pandemic, which is powered by domestic drivers.

The report said that India’s real GDP growth of 8.2% in FY24, which is the highest rate since 2016-17, barring the post-COVID rebound in 2021-22, has “stunned all projections”.

It said that recent indicators suggest that private consumption is resuming its role as the main driver of demand and is getting broad-based to include rural consumers.

Current Affairs 2024 Quiz

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Daily Current Affairs 2024

Get a competitive edge in all government exams with Daily Current Affairs 2024 by Oliveboard! Tailored for exams like NABARD Grade A, RBI Grade B, SEBI Grade A, IFSCA Grade A, IBPS PO, IBPS Clerk, SBI PO and SBI Clerk, IDBI Assistant Manager, FCI, SSC CGL, SSC CHSL, LIC AAO, LIC ADO, UPSC CSE & various other exams., our daily updates keep you ahead of the curve. Stay informed about the latest events in politics, economics, technology, and beyond. With concise summaries, Oliveboard’s Daily Current Affairs helps you stay abreast of important topics and enhance your exam preparation. Stay ahead, stay informed, and increase your chances of success with Oliveboard’s Daily Current Affairs 2024!

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