Daily Current Affairs and GK | 8 June 2023

Topic: Banking System

1. RBI kept repo rate unchanged at 6.5%.

• RBI announced its second bi-monthly policy for this fiscal.
• RBI Monetary Policy Committee has decided to keep the policy repo rate unchanged at 6.50 per cent.
• The Standing Deposit Facility (SDF) rate will remain at 6.25% and the marginal standing facility and the bank rates stand at 6.75%.
• According to RBI Governor Shaktikanta Das, the central bank has kept stability as a priority. The fundamentals of the domestic economy are improving.
• RBI Governor Shaktikanta Das said Consumer Price Inflation has moved to tolerance band during March-April 2023.
• He said that the CPI headline inflation will remain at 5.1% for 2023-24.
• However, Headline Inflation is above the target of 4 per cent and is expected to remain so during 2023-24.
• RBI MPC has kept the GDP growth projection at 6.5 percent for 2023-24. GDP growth is expected to be 8% in Q1FY 24, 6.5% in Q2 FY24, 6% in Q3FY24, and 5.7% in Q4 FY24.
• Now, banks can issue RuPay pre-paid Forex cards. It will expand the scope of an e-rupee voucher.
• According to RBI, around 50 per cent of the Rs 2000 denomination notes have been deposited or exchanged by citizens.
• There were around total of 3.62 lakh crore 2 thousand notes in circulation. Out of which 1.8 lakh crore have been deposited or exchanged by the customers.
• RBI governor said that under the pilot project Central Bank Digital Currency (CBDC) testing will be done with 1 million customers by the end of June.

Topic: State News/Madhya Pradesh

2. Madhya Pradesh Government will launch CM Learn and Earn scheme.

• Chief Minister's Learn and Earn scheme will be launched in Madhya Pradesh.
• This scheme will be launched to teach employable skills to the youth.
• Under the scheme, 703 work areas have been identified for the training of the youth.
• Along with learning skills, youth will also get an allowance of Rs 8,000 to 10,000 under this learn-and-earn scheme.
• Under the scheme, training will be provided to at least one lakh youth.
• The registration of establishments providing training to youth began on 07 June 2023.
• The registration of youth willing to learn work will begin on 15th June 2023. The youth will begin working from 1st August.

Topic: State News/Maharashtra

3. AIIMS Nagpur has become the first of all AIIMS to receive NABH accreditation.

• It has become India’s first AIIMS to receive the National Accreditation Board for Hospitals and Healthcare Providers (NABH) accreditation.
• NABH assesses the performance of hospitals in areas like patient care, safety, and organizational efficiency.
• Hospitals are assessed on over 600 parameters.
• The standards are divided between patient-centered facilities and organization-centered standards.
• National Accreditation Board for Hospitals & Healthcare Providers (NABH) is a constituent board of the Quality Council of India.
• It establishes and operates accreditation programme for healthcare organizations.
• The first edition of NABH standards was released in 2006.
• Currently, the 5th edition of NABH standards is in use. This 5th edition was released in August 2020.

Topic: Personality in News

4. Famous Doordarshan Anchor, Gitanjali Aiyar passed away on 07 June 2023.

• She was one of the first English news anchors on Doordarshan and All India Radio.
• She joined Doordarshan in 1971. She was awarded the best anchor four times.
• Aiyar also won the Indira Gandhi Priyadarshini Award for Outstanding Women in 1989.
• She also acted in Sridhar Kshirsagar's TV drama "Khandaan". She was suffering from Parkinson's disease.
• Parkinson’s disease is a neurological condition in which involuntary shaking occurs in body muscles.

(Source: News on AIR)

Topic: Agricultural and Allied Sector

5. A substantial increase in the Minimum Support Price (MSP) for all Kharif crops was announced for the current marketing season.

• The Cabinet Committee on Economic Affairs has approved the increase in the Minimum Support Price (MSP) of all Kharif crops for the marketing season 2023-24.
• The decision has been taken to ensure remunerative prices to farmers for their produce and to encourage crop diversification.
• MSP increased this year is the highest in the last several years.
• This increase is in line with the announcement made in the Union Budget 2018–19 to fix the MSP at a level of at least 1.5 times the all-India weighted average cost of production.
• The objective of the increase in MSP is to provide reasonably fair remuneration to farmers.
• The expected margin to farmers on their cost of production is estimated to be the highest at 82% for bajra, followed by 58% for tur, 52% for soybean and 51% for urad.
• For the rest of the crops, the margin to farmers on their cost of production is estimated to be at least 50%.
• In recent years, the government has been promoting the cultivation of crops other than cereals such as pulses, oilseeds and nutri-cereals or Shree Anna by giving higher support prices for these crops.
• To encourage farmers to diversify their crops, the government has also launched various schemes and initiatives such as the Rashtriya Krishi Vikas Yojana (RKVY), the National Food Security Mission (NFSM) .
• The total food grain production in the country is estimated to be a record 330.5 million tonnes, which is 14.9 million tonnes more than the previous year, according to the Third Advance Estimates for 2022-23. This increase is the highest in the last five years.
• Minimum Support Price for Kharif Marketing Season (KMS) 2023-24:

(Source: News on Air)

Topic: Infrastructure and Energy

6. The Center approved the construction of a new metro line from HUDA City Center to Cyber City in Gurgaon, Haryana.

• The expansion of Metro Connectivity from HUDA City Centre to Cyber City in Gurugram with a spur to Dwarka Expressway has been approved by Union Cabinet.
• This metro line will be completely elevated and it will cost about 5,450 crore rupees.
• It is also expected to provide employment to about 17 lakh people.
• The metro will cover a distance of 28 km in this phase and will have 27 stations on this route.
• After the approval of the project, it is estimated to be completed in four years.
• The project will be implemented by Haryana Mass Rapid Transport Corporation Limited (HMRTC).
• This metro project will connect Gurugram railway station and give a boost to the overall economic development in the region.
• The main feature of this project is to connect New Gurugram with Old Gurugram.
• In the next phase, it will provide connectivity to Indira Gandhi International Airport.

(Source: News on Air)

Topic: Corporates/Companies

7. The government has approved the third revival package for BSNL.

• The total outlay of the third revival package is 89 thousand 47 crore rupees.
• The authorized capital of BSNL will increase from one lakh 50 thousand crore rupees to two lakh ten thousand crore rupees.
• The revival package includes an allotment of 4G and 5G spectrum for BSNL through equity infusion.
• With this spectrum allotment, BSNL will be able to provide pan India 4G and 5G services.
• It will be able to provide 4G coverage in rural and uncovered villages under various connectivity projects.
• BSNL will also be able to provide Fixed Wireless Access (FWA) services for high-speed internet.
• The first revival package for BSNL and MTNL was approved by the government in 2019. It amounted to 69 thousand crore rupees.
• The second revival package for BSNL and MTNL was approved by the government in 2022. It amounted to 1.64 Lakh Crore rupees.

Topic: International News

8. Ukraine claims that Russia blew up the major Nova Kakhovka dam in southern Ukraine.

• However, a Russian official in the city of Nova Kakhovka in the Russian-controlled regions of the Kherson area denied it.
• Even a day after the collapse, it is still unknown what caused the dam to collapse.
• Ukraine accused Russia of blowing up the dam wall. Russia blamed the Ukrainian shelling for this.
• The Kakhovka hydroelectric dam and reservoir is one of the largest dams and reservoirs in the world.
• It is located in a part of the Kherson area occupied by Russia’s forces for the past year.
• The dam is located approximately 70 kilometers (44 miles) to the east of the city of Kherson.
• Wheat prices increased by 3% following the collapse of dam.
• Ukraine and Russia are important global suppliers of wheat, barley, sunflower oil and other food to Africa, the Middle East and some parts of Asia.
• Kakhovka Dam was located on the Dnieper River in Nova Kakhovka, Ukraine.
• The Dnieper is the longest river in Ukraine and Belarus. It rises in Valdai Hills near Smolensk, Russia.

Topic: Defence

9. India-Maldives navies participating in the sixth edition of ‘Ekatha’ Exercise.

• Indian Navy divers and Marine Commandos with Maldives National Defence Force participating in the sixth edition of the ‘Ekatha’ Exercise.
• This exercise will be conducted from 4th June to 3rd July in Maldives.
• Its main aim is to enhance interoperability between both navies.
• It will enhance cooperation in diving and special operations and Counter-terrorism, maritime security, humanitarian assistance and disaster relief operations.
• Exercise Ekatha includes Joint Drills, Workshops, Seminars, Tabletop Exercises and specialized training in various combat-related activities.
• The fifth edition of the exercise was held from 5th September 2022 to 3rd October 2022.
• Normally, Operational plans, communication protocols, and coordination mechanisms to address potential security threats remain part of this exercise.

Topic: Geography

10. One of the most active Volcanoes, Kilauea, started erupting from 7 June.

• Kilauea started erupting on 7 June after a three-month pause. It is one of the world’s most active Volcanoes.
• The eruption is occurring within the Halemaumau crater in the summit caldera.
• The increase in earthquake activity and changes in the pattern of ground deformation at the summit indicates the movement of magma in the subsurface.
• The eruption activity area is within the Hawaii Volcanoes National Park, Hawaii Island.
• Kilauea is second largest volcano of Hawaii. It erupted from September 2021 until last December and again began erupting in January which lasted for 61 days.
• In 2018, the Kilauea eruption destroyed more than 700 homes.
• Volcano Eruption:
  • When the mantle of the Earth melts, it comes out in the form of lava through cracks on the Earth’s surface.
  • A volcano can be active, dormant, or extinct stage.
  • Mount Etna (Italy), Mauna Loa (United States), Stromboli (Italy), Reventador (Ecuador), Kilauea (United States) are some important active Volcanoes in the world.
  • The Indonesia has the most number of Active Volcanoes in the world.

Topic: Government Schemes and Initiatives

11. Pradhan Mantri Van Dhan Yojana is proving to be a boon for tribal population.

• Pradhan Mantri Van Dhan Yojana was launched by Prime Minister Narendra Modi on 14 April 2018 in the tribal-dominated Bijapur district of Chhattisgarh.
• The aim of the scheme is to upgrade the status of tribal people from mere gatherers of minor forest produce like mahua, tamarind, chironji, etc, to entrepreneurs and help them learn the value addition to the forest produce.
• This initiative targets livelihood generation for tribals by harnessing wealth of forest.
• It is a component of Mechanism for Marketing of Minor Forest Produce (MFP) through Minimum Support Price (MSP) & Development of Value Chain for MFP scheme.
• Under the scheme, around 140 Van Dhan Kendras have been started in Chhattisgarh and more than 3000 in India.
• Through Van Dhan Kendras, the tribal people add value to the minor forest produce and as a result, their income increased by 3-4 times.
• TRIFED is responsible for the implementation of the Van Dhan Programme.
• It is 100% funded by the Central Government with TRIFED giving Rs 15 lakh to each Van Dhan Kendra cluster of 300 members.

Topic: Government Schemes and Initiatives

12. Nyaya Vikas Portal created by Department of Justice to monitor implementation of Centrally Sponsored Schemes.

• Nyaya Vikas Portal gives four efficient ways to login into the portal- Central User login, State User login, Surveyor User and Approver User login.
• It empowers stakeholders with seamless access to information related to funding, documentation, project monitoring and approval.
• Nyaya Vikas Scheme:
  • Since 1993-94, the Department of Justice has been implementing the Centrally Sponsored Scheme (CSS) for Development of Infrastructure Facilities for Districts and Subordinate Judiciary.
  • Under the Scheme, central assistance is given to the State Government / UT Administrations for constructing court halls and residential units for Judicial Officers / Judges of District and Subordinate Courts.
  • The scheme was extended beyond 31 March 2021 and some new features were added like construction of Lawyers Hall, Toilet complexes and Digital computer rooms for the convenience of lawyers and litigants.
  • Under the scheme, the funds sharing pattern between centre and state for North Eastern and Himalayan States is 90:10, 100% in respect of Union Territories and 60:40 for other states.

Topic: Important Days

13. World Oceans Day 2023: 8 June

• World Oceans Day is celebrated every year on 8 June.
• The day is celebrated to highlight the role of the oceans in sustaining life on Earth and to inspire action to preserve it.
• The theme of World Oceans Day 2023 is "Planet Ocean: Tides are Changing."
• In 1992, the idea of celebrating World Oceans Day was first proposed at the United Nations Conference on Environment and Development (UNCED) in Rio de Janeiro, Brazil.
• In 2008, the United Nations (UN) declared 8th June as World Oceans Day.
• The International Maritime Organization was formed in 1973 to deal with problems such as pollution from ships, marine litter and air pollution from ships.
• The ocean covers more than 70 percent of the planet and the oceans produce about 50 percent of the planet's oxygen and are home to Earth's biodiversity.
• It is the main source of protein for more than a billion people around the world.

(Source: News on AIR)

Topic: Important Days

14. World Brain Tumour Day 2023: 8 June

• World Brain Tumor Day is observed every year on 8 June.
• It is celebrated to raise awareness about brain tumor and educate people about it.
• On June 8, 2000, the German Brain Tumor Association started the celebration of German Brain Tumor Day.
• In 2010, the International Brain Tumor Alliance (IBTA) designated 8 June as World Brain Tumor Day.
• About 40,000 new cases of brain tumor are reported every year in India.
• About Brain Tumour:
  • A brain tumour develops when cells grow at an abnormal rate, resulting in the formation of a mass of abnormal cells within the brain.
  • Tumors can be categorized into two types: cancerous and non-cancerous.
  • Headaches, seizures, vision problems, vomiting, and mental changes are all common symptoms of a brain tumour.
  • A brain tumour can be treated in different ways- surgery, chemotherapy, radiotherapy, steroid treatment, etc.

(Source: News on AIR)