Daily Current Affairs and GK | 15 June 2024

Topic: Indian Economy

1. India’s goods exports have grown 9.1% to $38.13 billion in May 2024.

• Imports increased 7.7% to $61.91 billion. The textile sector has shown a growth of nearly 10% in May.
• The merchandise trade deficit increased to a seven-month high level of $23.78 billion in May.
• The merchandise trade deficit in May 2024 was 5.5% higher than the deficit in May 2023.
• The merchandise trade deficit in May 2024 was 24.5% over April’s trade deficit of $19.1 billion.
• Compared with April, imports in May were 14.4% higher and exports increased 8.9%.
• 7.4% growth was recorded in exports of engineering goods in May.
• Several sectors, including electronics (23%), drugs and pharma products (10.45%), and plastics and linoleum (16.6%) have shown double digit growth.
• Imports of gold reached $3.33 billion in May 2024. This is a three-month high level.
• Gold imports had tripled year-on-year in April to $3.11 billion. The value of silver imports increased by more than 400%.

Topic: Art and Culture

2. 18th Mumbai International Film Festival (MIFF) 2024 started on 15 June in Mumbai.

• MIFF 2024 started with the India premiere of ‘Billy and Molly: An Otter Love Story’, directed by Charlie Hamilton-James.
• MIFF 2024 will continue from 15 June 2024 to 21 June 2024.
• MIFF 2024 will showcase 314 films from 59 countries in 61 languages.
• In this, 8 world premieres, 5 international premieres, 18 Asia premieres and 21 India premieres are also included.
• Besides Mumbai, parallel screenings will also be held in Delhi, Kolkata, Pune and Chennai.
• In this year’s festival, the first-ever Doc Film Bazaar is introduced.
• It is a dedicated marketplace for independent filmmakers to find buyers, sponsors and collaborators for their projects.
• MIFF was started in 1990. It is among the oldest South Asian film festivals.
• It is held once in two years. It is dedicated to documentaries, short films and animations.

Topic: Economy/Banking/Finance

3. CAMSRep launched Bima Central for managing insurance portfolios.

• CAMS Insurance Repository Services (CAMSRep) has launched Bima Central.
• It will act as a one-stop platform for simplifying insurance portfolio management.
• It will allow users to manage life, health, and motor policies through their secure e-insurance account (eIA).
• E-insurance account (eIA) users will access Bima Central to manage their policies with various insurers.
• It will provide many features, such as policy information, renewals and reminders, personal data and nominee information profile management, a policy calendar, and more.
• Currently, the interface will be available in English and Hindi on Android, iOS, and the web portal.
• SBI General has been the lead insurer for CAMSRep right from the research and design phase.
• ICICI Prudential Life, Star Union Daichi Life, TATA AIA, and Aditya Birla Health are at different stages of integrating their services with Bima Central.

Topic: National News

4. WHO designated the National Institute of Indian Medical Heritage as the 3rd Indian Institute for Traditional Medicine Research.

• National Institute of Indian Medical Heritage (NIIMH) in Hyderabad, under the Ministry of Ayush, has been designated as a WHO Collaborating Centre (CC) for traditional medicine research.
• The National Institute of Indian Medical Heritage (NIIMH) in Hyderabad is a unit under the Central Council for Research in Ayurvedic Sciences (CCRAS).
• This institute will now work as a WHO Center for 'Fundamental and Literary Research in Traditional Medicine’.
• This recognition has been granted for four years.
• The Institute for Teaching & Research in Ayurveda, Jamnagar, and the Morarji Desai National Institute of Yoga (MDNIY), New Delhi, are the other WHO Collaborating Centers in the domain of traditional medicine.
• The National Institute of Indian Medical Heritage, Hyderabad, was established in 1956. It has been a leading institute in various digital initiatives of Ayush, including the AMAR Portal.

Topic: Summits/ Conferences/ Meetings

5. G-7 leaders discussed tackling migration, AI, and economic security.

• The Group of Seven leaders discussed migration, artificial intelligence, economic security and the Indo-Pacific region issues on the last day of the summit in Italy.
• They also discussed other topics such as financial support for Ukraine, the war in Gaza, climate change, Iran, the situation in the
• G-7 leaders discussed ways to combat trafficking and to increase investment in countries from where migrants are coming.
• The leaders launched the G7 Coalition to prevent and counter the smuggling of migrants.
• G7 Summit leaders also commit to promoting the India-Middle East-Europe Economic Corridor.
• G7 leaders’ summit was held in the luxury resort of Borgo Egnazia in Italy’s Apulia region from June 13 to 15.
• India and Italy also reviewed the progress of the India-Italy strategic partnership.
• G7 leaders ended their summit with their starkest warning yet to China. They highlighted the security threats from China to the global economy.

Topic: State News/Madhya Pradesh

6. The flight booking website for PM Shri Tourism Air Service has been digitally launched by the MP Chief Minister Dr. Mohan Yadav.

• In the first phase, the air taxis will begin operating between Bhopal-Singrauli-Jabalpur-Rewa.
• MP CM said that from June 16, PM Shri Religious Tourism Heli Service will begin between Ujjain-Omkareshwar-Indore-Bhopal.
• He also said that the PM Shri Tourism Air Service of Madhya Pradesh Tourism Board will begin from June 13.
• MP CM announced that henceforth no green tree will be cut in the state. It will be shifted to another place through transplantation.
• Further CM announced that the statues will be made of stone and they will be made with the help of the artists of the state.
• Dr. Yadav said that the GST collection has grown by 26% compared to last year.

Topic: International News

7. Cyril Ramaphosa is re-elected as president of South Africa.

• Ramaphosa is re-elected after a coalition deal between his African National Congress (ANC) and opposition parties.
• The new government combines ANC, the centre-right Democratic Alliance and other smaller parties.
• Ramaphosa won in Parliament vote against Julius Malema, the leader of the far-left Economic Freedom Fighters.
• Cyril Ramaphosa secured his second term after reaching agreement just before the vote for President, as ANC lost its 30-year majority in national assembly of Africa.
• In last month’s elections, the vote share of African National Congress declined to 40%.
• The Democratic Alliance became the second largest party with 22% of the votes.
• The parties will together govern South Africa in its first national coalition.
• African National Congress has been dominant political party since the first democratic election in South Africa in 1994.

Topic: Sports

8. India’s Divya Deshmukh defeated Bulgaria’s Beloslava Krasteva and won the World Junior Girls’ Chess Championship.

• Divya defeated Krasteva in the final round at the Gift City Club in Gandhinagar, Gujarat.
• With just 26 moves, Divya defeated Krasteva in the tenth round to win her first U-20 title.
• She won nine of her games and drew the other two to finish the championship undefeated.
• Divya Deshmukh is from Nagpur, Maharashtra.
• Kazakhstan’s Kazybek Nogerbek claimed the title in the open section.
• Starting as the third seed, the highest-ranked Indian at position ten was Pranav Anand.
• Half a point behind Divya, Mariam Mkrtchyan finished in second place in the girls' division. Ayan Allahverdiyeva of Azerbaijan came in third.

Topic: Reports and Indices/Rankings

9. WPI food index increased from 5.52% in April to 7.40% in May.

• Wholesale food prices have skyrocketed month-on-month in May.
• Official data show that the Whole Price Index for food items rose from 5.52% in April to 7.40% in May.
• Among food grains, prices of cereals, paddy, pulses, vegetables, potatoes, onions and fruits increased.
• According to official data from the Commerce Ministry, overall wholesale inflation in India, based on the Wholesale Price Index, rose to 2.61% in May, compared to 1.26% in April.
• This high inflation in May was due to rise in prices of food products, crude petroleum and natural gas, mineral oils and other manufacturing industries.
• In May, annual retail inflation stood at a 12-month low of 4.75%, down from 4.83% in April.
• Retail inflation or consumer price index was 5.7% in December last year, and has been declining since then.

Topic: National News

10. New fee refund policy for higher educational institutions announced by University Grants Commission.

• Up to September 30 of this year, Higher Education Institutions (HEIs) will be required to provide a full refund of fees for all cancellations or migrations.
• This has been announced by the University Grants Commission (UGC) in the new fee refund policy for the 2024-25 academic session.
• This has been done to address the complaints of students and parents regarding non-refund of fees on cancellation or withdrawal of admission.
• This policy applies to all higher educational institutions under Central or State Acts, UGC-recognised institutions, deemed universities and organisations involved in admission counselling.
• The higher education regulatory body also said that no more than Rs 1,000 will be deducted as processing fee on issuance of refund.
• This year the refund process will have to be completed after 30 September and by 31 October.
• It said that for admission programmes extended beyond October 31, the provisions of the UGC notification of October 2018 will apply.
• Institutions violating this policy will face penal actions as specified in the 2018 notification.

(Source: News on AIR)

Topic: MoUs and Agreements

11. Indira Gandhi National Centre for the Arts (IGNCA) and Sansad TV inked a MoU.

• The Indira Gandhi National Centre for the Arts (IGNCA) and Sansad TV signed a Memorandum of Understanding (MoU) to make Indian art and culture more accessible to the people.
• As per the MoU, programmes produced by IGNCA will be telecast on Sansad TV and Sansad TV.
• The MoU was signed by Member Secretary, Dr. Sachchidanand Joshi on behalf of IGNCA and Chief Executive Officer, Shri Rajat Punhani on behalf of Sansad TV.
• It is a significant step towards showcasing the cultural heritage to the people of India.
• Indira Gandhi National Centre for the Arts (IGNCA) is an autonomous institute under the Union Ministry of Culture. It is situated in New Delhi.

Topic: MoUs and Agreements

12. Governments of India and France are negotiating a deal for 26 Rafale maritime jets.

• The price and other related issues of the crucial deal for 26 Rafale maritime fighter aircraft for the Indian Navy are being negotiated by India and France.
• Earlier this dialogue was to be held on May 30, but in view of the pending process of Lok Sabha elections, it was postponed till the second week of June.
• The overall project is likely to cost over Rs 50,000 crore and will increase the number of these advanced aircraft in the IAF fleet from 36 to 62.
• These aircraft will be operated from the Indian Navy's aircraft carriers INS Vikramaditya and INS Vikrant.
• According to the plan, these aircraft will be deployed by the Indian Navy to their home base, INS Degha in Visakhapatnam, Andhra Pradesh.
• France had submitted its response to India's tender to procure 26 Rafale marine jets for the Indian Navy's aircraft carriers, INS Vikrant and INS Vikramaditya in December 2023.

(Source: DD News)

Topic: Reports and Indices/Ranking

13. Record 117 million people forcibly displaced in 2023: UNHCR

• The United Nations refugee agency said that a record 117.3 million people had been displaced in 2023.
• These people include refugees, asylum seekers and internally displaced people who are displaced due to conflict, persecution and complex forms of violence.
• In the last 12 years, there has been a yearly increase in the number of people forcibly displaced.
• In total, 1.5% of the world’s population is now forcibly displaced, which is around double what it was a decade ago.
• UNHCR estimates that forced displacement has continued to increase in the first four months of 2024.
• Due to the war in Sudan, more than 9 million people have been internally displaced, and another 2 million have fled to neighbouring countries.
• Due to Israel’s bombardment in Gaza, 1.7 million people (80% of the Palestinian population) have been internally displaced.
• The US, with 1.2 million, is the world’s largest recipient of new asylum applications.
• The UNHCR also found that 40% of all forcibly displaced people are minors.

Topic: Banking System

14. ‘SME Digital Business Loans’ have been launched by SBI.

• SME Digital Business Loans is a new product that offers an end-to-end sanction turnaround time of up to 45 minutes for SMEs (small and medium enterprises).
• It leverages an ecosystem of APIs (application programming interface) to streamline the lending process.
• SME Digital Business Loans will be accessible to customers through all the bank’s channels.
• These channels include SBI’s website, branches, SME Centres, as well as internet platforms.
• In the future, SBI will make this product available across all its CSP (customer service point) partner touchpoints and via QR codes at outdoor touchpoints.
• SBI said it has developed a data-driven credit assessment engine.
• This can provide sanction decisions within 10 seconds after submitting the required details.
• SBI also said it has waived the requirement for financial statements for loans up to ₹50 lakh.
• For this, SBI now relies on transaction history and GST returns for appraisal.