The United Nations marks World Oceans Day each year on 8 June through a annual event coordinated by the Division for Ocean Affairs and the Law of the Sea (Office of Legal Affairs).
The inclusive event provides an opportunity to celebrate the importance of the ocean and to better understand how to interact with it in a sustainable manner.
“Awaken New Depths” is the theme for World Oceans Day 2024.
An MoU between CSC SPV and Ministry of Agriculture & Farmer's Welfare was signed on 7 June to convert FPOs registered under ‘Formation & Promotion of 10,000 FPOs scheme’ into CSCs and help them to deliver citizen-centric services. As per MoU,0,000 FPOs will be converted into CSCs. CSC SPV will enable them to provide the services that are available on the Digital Seva Portal
The Government of India launched the Central Sector Scheme for “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs)” in the year 2020 that is enabling farmers to enhance their bargaining power, leverage economies of scale, reduction in cost of production and enhancing farmers’ incomes through aggregation of their agricultural produce.
The Reserve Bank has constituted a committee under the Chairmanship of former MD and CEO of National Payments Corporation of India, Mr. A P Hota to examine various aspects of setting up a digital public infrastructure for Digital Payments Intelligence Platform.
According to an official statement, RBI is mulling to set up a Digital Payments Intelligence Platform to mitigate payment fraud risks. The Committee is expected to give its recommendations within two months.
Domestic payment frauds jumped by 70.64 per cent to Rs 2,604 crore during the six-month period ended March 2024 from Rs 1,526 crore in the same period of last year. The volume of frauds also rose to 15.51 lakh during the March 2024 period from 11.5 lakh in the previous six-month period, RBI data shows.
One of the eminent wildlife field biologists and pioneers of wildlife conservation in the Country, A.J.T.Johnsingh passed away in Bengaluru on 7th June after a brief illness. He was 78. His pioneering work in elephants in the early 1980s was instrumental for the Government of India to formulate Project Elephant.
He also conducted an international conference bringing elephant experts across the world to Mudhumalai wildlife sanctuary. He was associated with the Bombay Natural History society , the Corbett foundation and the Nature Conservation Foundation, Mysuru. He was also a member of the National wild life Board and Tiger Conservation Authority.
Women’s 50m rifle 3-positions specialist Sift Kaur Samra won a bronze medal on 7th June on the concluding day of the International Shooting Sport Federation (ISSF) World Cup Rifle/Pistol in Munich, as India ended the competition with two medals. Sift shot 452.9, to give up silver by an agonizing 0.1 to China’s Han Jiayu, the reigning Air Rifle Women’s World Champion.
Raj Priy Singh (IFoS) has been selected for the appointment as Director in the Department of Rural Development under the Ministry of Rural Development. According to an order issued from the Department of Personnel & Training(DoPT), Singh has been selected for the appointment under the Central Staffing Scheme (CSS) for a period with effect from the date of taking over charge
Every year on June 8, World Brain Tumour Day is observed globally to enhance understanding and raise awareness about brain tumours. It serves as a critical reminder of the importance of awareness, early detection, and support for those affected by brain tumours. According to GLOBOCAN 2020 data, an estimated 2,51,329 deaths were due to brain central nervous system tumors.
Ramoji Rao, head of the ETV Network and founder of Ramoji Film City, died while undergoing treatment in Hyderabad on June 8. He was 87. Ramoji Rao headed the Eenadu group of companies, ETV Network, Margadarshi chit fund, and Ramoji Film City (RFC). He was born in November 1936 in Peddaparupudi village of Krishna district.
In 2016, his remarkable achievements were further recognized with the Padma Vibhushan, India's second-highest civilian honour, for his multifaceted contributions to journalism, literature, and education.
South Korea’s financial services major Mirae Asset Capital Markets plans to infuse over $150 million into retail broking arm Sharekhan for expansion into wealth and portfolio management business, said sources. In April this year, Mirae Asset received approval from the Competition Commission of India (CCI).
Sharekhan is the second broking platform in Mirae Asset’s kitty. It launched discount brokerage firm m.Stock in 2022. According to sources, the company plans to focus on diversifying the business of Sharekhan beyond the brokerage business. As of March 2024, Sharekhan stood in eighth place among the discount brokers with over 700,000 active clients.
Moody's Ratings (Moody's) on 8th June affirmed the Baa3 ratings on three Indian public sector banks -- Bank of Baroda (BOB), Canara Bank, and Punjab National Bank (PNB). The rating agency maintained stable outlooks on the long-term ratings of all three banks.
Moody's also believes that India's strong operating environment will continue to support their credit fundamentals over the next 12-18 months. BOB's, Canara's and PNB's NPL ratios respectively declined to 2.9 per cent, 4.2 per cent and 5.7 per cent as of 31 March 2024 from 3.8 per cent, 5.4 per cent and 8.7 per cent a year earlier, supported by lower bad loans (or slippage)
as well as stronger recoveries and higher write-offs. Bank of Baroda is headquartered in Mumbai and reported consolidated assets of Rs 16.5 trillion (USD 197.8 billion) as of March 31, 2024. Punjab National Bank is headquartered in New Delhi and reported consolidated assets of Rs 16.0 trillion (USD 191.8 billion) as of March 31, 2024.
Canara Bank is headquartered in Bangalore and reported consolidated assets of Rs 15.4 trillion (USD 184.6 billion) as of March 31, 2024.
The Reserve Bank of India on 8th June proposed a facility to allow customers to automatically replenish their UPI Lite wallets to promote small-value digital payments. Currently, the UPI Lite has a daily limit of ₹2,000, while the upper limit for a single payment is ₹500. UPI Lite is a simplified version of the Unified Payments Interface (UPI).
It acts as an on-device wallet for small-value transactions. Presently, the UPI Lite app can only hold a maximum of ₹2,000 at a time. UPI Lite was introduced in September 2022 to enable small value payments in a quick and seamless manner through an on-device wallet.
The Reserve Bank of India (RBI) has approved Zurich Insurance Company’s acquisition of a 70% stake in Kotak Mahindra General Insurance Company for ₹5,560 crore. This approval marks a crucial step in the transaction process. Kotak Mahindra Bank confirmed the RBI’s nod in an exchange filing on June 5, stating that all required approvals have been obtained.
In November 2023, Zurich Insurance Company announced its intention to acquire a 51% stake in Kotak Mahindra General through share purchase and capital infusion. The subsequent plan involves Zurich acquiring an additional 19% stake over the next three years, culminating in the ₹5,560 crore investment.
