VISION

1)  World Accreditation Day 2022 observed on 9th June

•World Accreditation Day (WAD) is celebrated on June 9 every year. WAD has been established by the joint efforts of the International Accreditation Forum (IAF) and the International Laboratory Accreditation Cooperation (ILAC). Accreditation plays a key role in supporting the implementation of the United Nations Sustainable Development Goals (SDGs). It aims to meet objectives such as increasing trade and addressing environmental, health and safety concerns. It also improves the general overall quality of output in an economy.

World Accreditation Day 2022: Theme

•This year the theme for World Accreditation Day 2022 is “Accreditation: Sustainability in Economic Growth and the Environment.” The theme aims to draw attention to how accreditation and conformity assessment can find solutions for global issues.

2)  UN to grant humanitarian assistance of $48 million to Sri Lanka amid crisis

•United Nations has planned to provide humanitarian assistance of around $48 million over a four-month period to Sri Lanka. New Delhi’s financial assistance worth over $3 billion since January to provide essential items, including food, fuel, cooking gas and medicines. Sri Lanka needs $6 billion to keep the country afloat for the next six months, adding that $5 billion is required to ensure day-to-day living and another $1 billion to strengthen the Sri Lankan rupee.

3)  Transfer of 10 in-orbit communication satellites from the government to NSIL approved by Cabinet

•The transfer of ten in-orbit communication satellites to public sector business NSIL, which is under the administrative jurisdiction of the Department of Space, has been authorized by the Union Cabinet. The cabinet also authorized expanding NewSpace India Limited’s (NSIL) permitted share capital from Rs 1,000 crore to Rs 7,500 crore. NSIL was required under the space sector reforms to conduct end-to-end commercial space operations and to operate as a full-fledged satellite operator.

4)  Amit Shah inaugurates new building of National Tribal Research Institute in New Delhi

•Union Home and Cooperation Minister, Amit Shah has inaugurated the newly built National Tribal Research Institute (NTRI) in New Delhi. This institute is to promote and preserve the tribal heritage and culture and the nerve centre of tribal research issues and matters in academic, executive and legislative fields. The institute will collaborate and network with reputed research institutes, universities, and organisations as well as academic bodies and resource centres. It is being established at a cost of 10 crore rupees.

5)  Defence Minister increased funding for the DRDO’s TDF scheme to Rs 50 crore

•Defence Minister Rajnath Singh authorized an increase in financing for MSMEs and startups under the Ministry of Defence’s Technology Development Fund (TDF) plan. The initiative, which encourages the development of indigenous components, products, systems, and technologies, will now have a maximum project value of Rs 50 crore, up from Rs 10 crore previously. The increased funding is in accordance with the budget announcement and will help the government achieve its goal of self-reliance in the defence sector, according to the defence ministry.

6)  Ramkrishna Mukkavilli becomes the first Indian to recognized by United Nations Global Compact as Global SDG Pioneer

•For the first time in the world, an Indian has been named a Global Sustainable Development Goal (SDG) Pioneer for Water Stewardship by the United Nations Global Compact (UNGC). The United Nations Global Compact has named ten new SDG Pioneers, who are corporate leaders who are excelling in advancing the Sustainable Development Goals (SDGs) by implementing the UN Global Compact Ten Principles on human rights, environment, labour, and anti-corruption.

•Professionals working at any level in a firm engaging in the UN Worldwide Compact were targeted for the global search, with winners picked from every continent. Their work covers a wide range of topics, including climate mitigation and adaptation, as well as circular economy and digital transformation.

7)  Presidential Election 2022 to be held on 18 July

•The election to choose the next President of India will be held on July 18 and the results will be announced on July 21, Chief Election Commissioner Rajiv Kumar announced. The term of President Ram Nath Kovind ends on July 24. Ram Nath Kovind had received over 65% votes in 2017. Electoral college for President’s Election comprises 776 MPs and 4033 MLAs, Total 4809.

8)  OECD slashes India’s GDP growth forecast to 6.9% for FY23

•The Organisation for Economic Co-operation and Development (OECD) has forecast India’s GDP growth at 6.9 per cent for FY23. This is 120 basis points lower than the 8.1 per cent projection made in December. The lowest by a major bank or institution, saying the country had been adversely affected by Russia’s invasion of Ukraine.

•This is below the Reserve Bank of India’s estimate of a 7.2% rise. India’s Gross domestic product (GDP) grew 8.7% in 2021-22, making it the fastest-growing major economy in the world.  After recording the strongest GDP rebound in the G20 in 2021, the Indian economy is progressively losing momentum as inflationary expectations remain elevated due to rising global energy and food prices, monetary policy normalises and global conditions deteriorate.

9)  China launched a Crewed Mission to build the Tiangong Space Station

•The China Manned Space Agency announced that three astronauts have been dispatched on a six-month mission to complete work on the country’s permanent orbiting space station. The Shenzhou-14 crew will stay aboard the Tiangong station for six months, overseeing the integration of two laboratory modules into the main Tianhe living room, which was launched in April 2021.

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📰 NHAI’s road-laying feat enters Guinness

📰 Tamil Nadu tops food safety index

1)  World Oceans Day 2022 observed on 8th June

•The World Oceans Day is celebrated on June 8 every year across the globe. The day is commemorated to remind people of the importance of the oceans and the major role they play in everyday life. The day is also observed to make raise public awareness of the ocean and its resources in order to promote global ocean and resource sustainability. The day intends to highlight the various resources that mankind derives from the ocean, as well as the various threats that the ocean faces.

World Oceans Day 2022: Theme

•“Revitalization: collective action for the ocean” is the theme for World Oceans Day 2022, a year framed by the UN Decade of Ocean Science and the celebration of the United Nations Ocean Conference, two years after being cancelled because of the pandemic.

2)  PM Modi launches new series of coins with Azadi Ka Amrit Mahotsav design

•Prime Minister Narendra Modi has launched a special series of coins that are also ‘visually impaired friendly’. The coins of Re 1, Rs 2, 5, 10 and 20 denominations will have the Azadi Ka Amrit Mahotsav (AKAM) design. They are not commemorative coins and will be part of circulation. These new series of coins will remind people of the goal of amrit kal and motivate people to work towards the development of the country.

•Meanwhile, lenders like HDFC Bank and Axis Bank said these special coins will be distributed through select branches. AKAM is an initiative of the Government of India to celebrate and commemorate 75 years of independence.

3)  India successfully tested nuclear- capable Agni-4 ballistic missile in Odisha

•India has successfully executed a nuclear- capable Agni-4 ballistic missile from APJ Abdul Kalam Island in Odisha. The missile has the range of around 4,000 kilometres. Earlier, India successfully test-fired an extended range version of the BrahMos supersonic cruise missile from a Sukhoi fighter jet. It was the first launch of the extended range version of the BrahMos missile from a Su-30MKI aircraft.

4)  Union Health Minister releases FSSAI’s 4th State Food Safety Index on World Food Safety Day

•On the occasion of World Food Safety Day, Union Health Minister Mansukh Mandaviya released the 4th State Food Safety Index. The Food Safety and Standards Authority of India (FSSAI) compiled the report to assess states’ performance across five food safety categories. The winning State/UTs based on the rating for the year 2021-22 were additionally honoured by the Health Minister for their outstanding performance across five food safety metrics.

5)  Indian Army Contingent participates in the “Khaan Quest 2022” exercise

•Indian Army participates in a multinational exercise “Ex Khaan Quest 2022” where 16 other countries also took part in Mongolia. President of Mongolia, Ukhnaagiin Khurelsukh inaugurated the Exercise as the host. Indian Army is represented by a contingent from the LADAKH SCOUTS. The 14-day exercise is aimed at enhancing interoperability, building military to military relationships, developing peace support operations and military readiness among participating nations.

•The exercise will also enable sharing of best practices between the Armed Forces of participating nations and will include field training exercises, combat discussions, lectures and demonstration. The military exercise will enhance the level of defence co-operation between Indian Army and participating countries especially with the Mongolian Armed Forces which will enhance bilateral relations between the two countries.

6)  India ranked worst in the world in terms of environmental performance in 2022

•In the 2022 Environment Performance Index (EPI), an analysis by Yale and Columbia University researchers that gives a data-driven evaluation of the situation of sustainability around the world, India came in last out of 180 countries. Climate change, environmental public health, and biodiversity are among the 40 performance factors used by the EPI to rank 180 nations.

7)  RBI Monetary Policy: RBI raises repo rate by 50 bps to 4.90%

•The six-member Monetary Policy Committee (MPC) led by RBI Governor Shaktikanta Das voted unanimously to raise repo rate by 50 basis points to 4.90 percent. The Monetary Policy Committee has raised the repo rate in order to tackle elevated inflation. Standing Deposit Facility and Marginal Standing Facility rates also raised by 50 basis points. Standing Deposit Facility rate now 4.65 percent, and Marginal Standing Facility rate now 5.15 percent.

8)  Alok Kumar Choudhary takes charge as MD of SBI

•Alok Kumar Choudhary has took charge as the new Managing Director (MD) of State Bank of India (SBI). His appointment comes in the wake of the superannuation of Ashwani Bhatia as Managing Director on May 31, 2022. Choudhary was previously Deputy Managing Director (Finance) at the bank. As the new MD, he will be handling retail business and operations.

•Per a notification issued by the Department of Financial Services, the new MD’s appointment is with effect from the date of assumption of office and up to the date of his superannuation (June 30, 2024), or until further order, whichever is earlier. Following Choudhary’s appointment, SBI now has four MDs. The other MDs are Challa Sreenivasulu Setty, Swaminathan J and Ashwini Kumar Tewari.

9)  World Bank cuts India GDP forecast to 7.5%

•The World Bank has slashed its growth forecast for India for the current financial year to 7.5 percent, a hefty 1.2 percentage points down from its previous forecast of 8.7 percent. Writing in its latest Global Economic Prospects report released, the World Bank said it cut India’s GDP growth forecast due to headwinds from rising inflation, supply chain disruptions, and geopolitical tensions.

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