The Day of the Seafarer (25 June) was established in a resolution adopted by the 2010 Diplomatic Conference in Manila to adopt the revised STCW Convention. Its stated purpose is to recognize the unique contribution made by seafarers from all over the world to international seaborne trade, the world economy and civil society as a whole.The theme for 2024 is #SafetyTipsAtSea.
Day of the Seafarer is recognized by the United Nations as an observance day.
Under the strategic direction of the Ministry of Coal, Eastern Coalfields Limited (ECL) has embarked on an innovative pilot project for Underground Coal Gasification (UCG) at the Kasta coal block in Jamtara District, Jharkhand. This underscores the Ministry’s proactive diversification efforts within the coal sector.
In December, 2015, the Ministry of Coal approved a comprehensive policy framework for UCG in coal and lignite-bearing areas. In alignment with this policy, Coal India selected the Kasta coal block to implement UCG technology tailored to Indian geo-mining conditions. The first phase, which commenced on June 22, 2024, involves preparing a Technical Feasibility Report.
According to UN Women’s Global Data on Women Political Leaders 2024, women are still largely excluded from positions of power and diplomacy. The UN said, globally, women’s underrepresentation in decision-making remains a stark reality. A staggering 113 countries worldwide have never had a woman serve as head of state or government, and only 26 countries are led by women.
Only 23 per cent of ministerial positions are held by women and in 141 countries women make up less than a third of cabinet ministers as of January 1, 2024. Seven countries have no women represented in their cabinets at all.
The S&P Global Ratings on 24 June retained its growth forecast for India at 6.8 per cent for FY25, citing high interest rates and lower fiscal boost tempering demand in the non-agricultural sectors. For FY26 and FY27, S&P projected India’s economy to grow at 6.9 per cent and 7 per cent, respectively.
The rating agency expects the Reserve Bank of India (RBI) to reduce its policy rate to 6 per cent in the current financial year from 6.5 per cent at present. Additionally, it anticipates further cuts in the lending rate to 5.5 per cent and 5.25 per cent in 2025-26 and 2026-27, respectively.
Prabdev Singh, CEO of JPMorgan Chase Bank in India, has stepped down prematurely from his three-year term. Pranav Chawda, currently heading commercial banking, will expand his role to lead India Corporate Banking. Singh, known as PD, joined JPMorgan in 2010 after a decade at HSBC. JPMorgan has operated in India since 1922, with four branches nationwide.
Innovations for Defence Excellence, the flagship initiative of the MoD, signed the landmark 350th contract in New Delhi on June 25, 2024. The contract was inked with SpacePixxel Technologies Pvt Ltd for the design and development of a ‘Miniaturised satellite capable of carrying Electro-Optical, Infrared, Synthetic Aperture Radar, and Hyperspectral payloads up to 150 kgs'.
iDEX, the recipient of the esteemed Prime Minister Award for Public Policy in Innovation Category in 2021, has emerged as a game-changer in the defence ecosystem. Established by the DIO under Department of Defence Production, iDEX has launched 11 editions of the Defence India Start-up Challenge (DISC).
The Reserve Bank of India (RBI) has inducted an additional director on the board of Bandhan Bank, weeks before the current managing director (MD) & chief executive officer (CEO) Chandra Shekhar Ghosh’s retirement.
Arun Kumar Singh, former chief general manager (CGM) of RBI, will be on the board for one year, from June 24, 2024, to June 23, 2025.
HDFC Bank has launched a new digital investment platform to take wealth services to every Indian and make investments simple and transparent. Incorporating cutting-edge technology, the HDFC Bank SmartWealth comes loaded with first-ever features that allow investors to make the right investment decisions and plan their financial journey.
ICICI Bank announced “SmartLock,” a novel safety feature that lets users lock and unlock several banking services at once without contacting customer support via phone or email. Customers can take control of their account security by simply clicking a button to lock or unlock their access to internet banking, UPI, credit cards and debit cards.