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18th
& 19TH June 2022
NATIONAL
NEWS
What major announcements on 'Agnipath' were
made during Defence Ministry's briefing?
In the Defence Ministry's press briefing on 'Agnipath' scheme, ₹1-crore
compensation was announced for Agniveers if they're martyred. The registration
of Agniveers in IAF will begin from June 24. The intake of 'Agniveers' will go
up to 1.25 lakh in near future. Defence applicants will be required to submit a
pledge saying they didn't participate in violent protest or arson.
Govt
establishes 10% quota for Agniveers, alters upper age limit
Following widespread opposition to the Agnipath plan, the Centre announced a
10% reservation for Agniveers in the Central Armed Police Forces (CAPF) and
Assam Rifles recruitment. The Ministry
of Home Affairs also decided to grant a three-year age relaxation to Agniveers
in the CAPFs and Assam Rifles who are between the ages of 17.5 and 21. Notably,
the initial class of recruits will be given a five-year extension on the
maximum age limit. The Agnipath short-term
recruitment strategy for the armed forces was previously announced by the
Centre. The plan, which is intended to be a reformative step, attempts to
infuse more fresh blood into the three services.
Intuit on India's Best Companies to Work For
list for 12 years in a row
Intuit shared that it is where engineers get to build a technology
platform that unlocks financial opportunities for over 100 million people. Its
award-winning culture, ranked on India's Best Companies to Work For list since
2010, aims to foster innovation and creativity, encouraging employees to
constantly learn, grow and make an impact in an inclusive workplace.
PM Modi inaugurates ₹920-crore Pragati
Maidan Integrated Transit Corridor
PM Narendra Modi on Sunday inaugurated the main tunnel and five
underpasses of Pragati Maidan Integrated Transit Corridor project in Delhi. It
has been built at a cost of over ₹920 crore and is aimed to provide hassle-free
and smooth access to the new world-class exhibition and convention centre being
developed at Pragati Maidan, the Prime Minister's Office said.
Govt to extend ESI scheme across country by
end of 2022
The Union Labour Ministry said on Sunday that the Employees' State
Insurance (ESI) scheme will be extended to all 744 districts of the country by
the end of 2022. During the 188th meeting of the ESI Corporation, it was also
decided that ESIC will set up 23 new 100-bed hospitals and multiple
dispensaries across India.
India's Russian coal purchases jump 6-fold
in 20 days amid sanctions: Report
India's purchases of Russian coal have surged in the recent weeks
despite Western sanctions on Moscow, according to data reviewed by Reuters. As
per the report, traders are offering up to 30% discount and India's coal
purchases increased over six-fold in the 20 days through May 27-June 15 while
its oil trade with Russia jumped 31-fold in the same period.
International News
War in Ukraine could last for years, says
NATO chief
In an interview with a German newspaper, NATO Secretary General Jens
Stoltenberg said that the war in Ukraine could last for years. "We must
not let up in supporting Ukraine...Even if the costs are high," he added.
He also said that supplying Ukraine with more modern weapons would increase its
chances of being able to liberate the eastern Donbas region.
Internet, social media have turbocharged
hate speech: UN chief
The internet and social media have turbocharged hate speech, enabling it
to spread like wildfire across borders, said UN chief Antonio Guterres on the
first-ever International Day for Countering Hate Speech on Saturday. Hate
speech incites violence, undermines diversity and social cohesion and threatens
the common values and principles that bind us together, he added.
Japan to participate in NATO summit for the first time
Japanese Prime Minister, Fumio Kishida will attend this month’s NATO summit in
Madrid, becoming the country’s first leader to join a top meeting of the
transatlantic alliance. The June 28-30
gathering is seen as a crunch moment for the 30 North Atlantic Treaty
Organization allies, four months into Russia's war in Ukraine. Japan, a key U.S. ally and not a NATO member,
has delivered defensive supplies to Ukraine and imposed tough sanctions on
Russia in tandem with the other Group of Seven countries.
Hamza Abdi Barre appointed as PM of Somalia
Somalia’s President Hassan Sheikh Mohamud has appointed a former chairman of
the Jubbaland state election commission, Hamza Abdi Barre as the Prime
Minister. The 48-year-old Hamza Abdi
Barre from the semi-autonomous state of Jubaland replaced Mohamed Hussein
Roble. Barre served in a number of
public and political roles and from 2011 to 2017 was secretary-general of the
Peace and Development Party (PDP), the precursor to the Union for Peace and
Development (UDP) now led by Mohamud.
BANKING, BUSINESS AND ECONOMY NEWS
Govt declares ICICI, HDFC, NPCI's computer
resources to be 'protected systems'
The government has declared computer resources of ICICI Bank, HDFC Bank
and UPI managing entity NPCI to be 'protected systems' under the IT Act, 2000.
This implies that any harm to these resources can have an impact on national
security, economy, public health or safety. Further, any unauthorised person
accessing these resources may be jailed for up to 10 years.
Builder fined ₹100 crore for violating green
norms in Gurugram
The Central Pollution Control Board has ordered Ansal Properties and
Infrastructure Limited, a real estate firm, to pay ₹100 crore as compensation
for allegedly violating environmental norms in a Gurugram project. In a
September 2018 order, the National Green Tribunal had flagged encroachment of
parks, illegal extraction and supply of groundwater and absence of a sewerage
treatment plant etc.
Ministerial meeting on GST rationalisation fails to reach agreement
According to insiders, a group of state ministers working on GST rate
rationalisation was unable to achieve an agreement because some members were
opposed to modifications to tax slabs and rates. They stated that the Group of Ministers will
provide a status report to the GST Council on the consensus reached at the
Group of Minister's previous meeting on November 20, 2021.
47th meeting of GST Council to be held in Srinagar
The 47th meeting of the GST Council will be held on June 28 and 29, 2022 in
Srinagar. The GST Council is chaired by Finance Minister Nirmala Sitharaman.
This is the second time that the GST Council meeting is being held in Srinagar. Before the launch of the Goods and Services
Tax (GST) on July 1, 2017, the 14th meeting of the Council was held on May 18
and 19 in the city. The Council had last
year set up a seven-member panel of state ministers, headed by Karnataka Chief
Minister Basavaraj Bommai, to suggest ways to augment revenue by rationalising
tax rates. The GoM had last met in November 2021.
Since 1980s, world's central banks launch their most hawkish
campaign
Central bankers around the world are enacting what could be the most dramatic
tightening of monetary policy since the 1980s, risking recessions and upsetting
financial markets as they try to deal with an unexpected spike in inflation. The week began with a surprise move on Wall
Street to price in a Federal Reserve rate hike of 75 basis points. Chairman
Jerome Powell declared himself fully committed to bringing inflation back down,
the greatest step by the US central bank since 1994. Switzerland surprisingly boosted rates, while
the Bank of England raised rates for the fifth time, this time by 25 basis
points, and indicated that it will soon double the rate. The bond market's reaction to the coordinated
removal of stimulus was so ferocious that the European Central Bank called an
emergency meeting on Wednesday to address rising yields in some euro-zone
countries.
Bhagwat Karad: Govt to take additional efforts to reduce inflation if
required
Bhagwat Kishanrao Karad, India's state minister for finance, stated that the
Finance Ministry will take additional efforts to reduce inflation if necessary.
Inflation is a worldwide phenomena, and India is better off than other
countries. The government is keeping a close eye on inflation and doing
everything it can to keep it under control. According to the minister of state,
the Russia-Ukraine conflict has had a significant impact on India's inflation.
Piyush Goyal: After several years, India able to win favourable WTO
outcome
Despite a strong global campaign against Indian farmers and fishermen, India
was able to secure a favourable outcome at the WTO after many years, commerce
and industry minister Piyush Goyal told the media after the conclusion of the
12th ministerial conference — the WTO (World Trade Organisation)'s highest
decision-making body . Piyush Goyal
described the conference as a 'outcome-oriented success', saying the Indian
team, led by Prime Minister Narendra Modi, was "100% successful" in
expressing the top concerns for India and the developing nations to the world.
RBI raises limit of e-mandates for transactions up to Rs 15,000
The Reserve Bank of India (RBI) has raised the Additional Factor of
Authentication (AFA) limit from Rs 5,000 to Rs 15,000 per transaction for
e-mandates on cards, Prepaid Payment Instruments (PPIs) and Unified Payments
Interface (UPI) for recurring transactions.
It implies, additional authentication will not be need for payment of Rs
15,000 per transaction. The Reserve Bank
of India (RBI) has, over the past decade, put in place various safety and
security measures for card payments, including the requirement of AFA,
especially for 'card-not-present' transactions.
Canara HSBC Life rebrands due to PNB exit
Canara HSBC OBC Life has renamed itself as Canara HSBC Life following its third
partner Punjab National Bank’s (PNB’s) decision to exit. PNB had acquired a stake in the company
following the amalgamation of Oriental Bank of Commerce (OBC). Currently, Canara Bank holds 51% in the
insurance arm, HSBC holds 26% and PNB 23%. Following PNB’s decision to exit,
the stake is likely to be acquired by existing shareholders.
SPORTS
India-South Africa T20I series ends in a 2-2
draw as decider gets abandoned due to rain
The five-match T20I series between India and South Africa ended in a 2-2
draw after the decider got abandoned due to rain in Bengaluru. The fifth T20I
was initially reduced to 19 overs per side. The rain then stopped play when
India were batting at 28/2 after 3.3 overs. India are now unbeaten in nine
straight T20I series at home.
Till now it didn't happen: Anurag on
first-ever Chess Olympiad torch relay
Sports Minister Anurag Thakur praised International Chess Federation's
(FIDE) decision to launch a Chess Olympiad torch relay for the first time from
India, saying till now no torch relay happened in Chess Olympiad. "In this
44th Chess Olympiad, over 2000 players from 188 countries will participate,"
he said. PM Modi launched the torch relay for 44th Chess Olympiad in Delhi.
Important Days
International Day for Countering Hate Speech: 18 June
International Day for Countering Hate Speech falls on June 18. According to the
UN, hate speech is any kind of speech or writing that attacks or discriminates
against a person or a group based on religion, ethnicity, nationality, race,
color, descent, gender, or any other identity factor. Speech should not be a weapon for creating
more mayhem in this volatile world; thus, the International Day for Countering
Hate Speech will help to stop hate-mongering.
International Picnic Day 2022: 18th June
International Picnic Day is celebrated annually on 18 June. On this day, people
spend time with their loved ones and go for picnics to get a break from their
monotonous everyday routine. A picnic is
a very good way to not only spend some quality time but also explore new feast
spots. The word “picnic” probably gets its origins from the French language,
specifically from the word “pique-nique”.
It is believed that this type of informal outdoor meal became a popular
pastime in France after the French Revolution in the mid-1800s when it was
possible again to get out into the country’s royal parks.
Sustainable Gastronomy Day 2022 observed on 18 June
Every year, the world observes Sustainable Gastronomy Day on 18 June. The
objective of this day is to recognise the practices associated with sustainable
food consumption, especially with the art of collecting and preparing the food
we eat. To make this day a memorable
one, the organisations work in collaboration with global and regional bodies to
observe the day. The day was recognised
on 21 December 2016 after the United Nations General Assembly (UNGA) adopted
the resolution A/RES/71/246, and declared 18 June as Sustainable Gastronomy
Day. Every year, UNGA, Food and
Agriculture Organization (FAO), and United Nations Educational, Scientific and
Cultural Organization (UNESCO) work together to ensure that the day is
celebrated properly around the world.
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