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07th June 2022


YSRCP hires I-PAC again ahead of 2024 Andhra Assembly polls

Andhra Pradesh's ruling YSRCP has hired political strategist Prashant Kishor's Indian Political Action Committee (I-PAC) for a second time ahead of 2024 state Assembly polls, a party leader has confirmed. "Kishor's colleague...Rishi Raj Singh [along with I-PAC's team] will be working for...YSRCP elections," the leader added. YSRCP won 151 out of 175 seats in 2019 state Assembly polls.


Govt widens CDS selection pool; serving or retd 3-star officers eligible

The Centre has issued three separate notifications amending the rules of Army, Navy and Air Force for the appointment of the next Chief of Defence Staff (CDS). Any serving or retired Lieutenant General, Air Marshal and Vice Admiral under the age of 62 years will be eligible for the post. The post is lying vacant since General Bipin Rawat's death.


Rajasthan CM introduced Rajiv Gandhi Khel Ratna Award in the State for Sportspersons 

Rajasthan Chief Minister(CM) Ashok Gehlot has announced that the state government is set to introduce the Rajiv Gandhi Khel Ratna Award to the State’s sportspersons.  He made the announcement while addressing the inauguration and player award ceremony at Sawai Mansingh Stadium in Jaipur, Rajasthan.


Blue Duke declared as the State Butterfly of Sikkim 

Chief Minister P.S. Golay, during the World Environment Day celebrations, declared Blue Duke as the State Butterfly of Sikkim. The announcement was made at Saramsa Garden near Ranipool during the event organized by the Forest department.  Blue Duke, a native butterfly species of Sikkim, edged past another contender Krishna Peacock to be announced as the State Butterfly of Sikkim. The two butterflies, among the 720-odd butterfly species, had been shortlisted for the State Butterfly nominations.

Mumbai's daily COVID-19 cases rise to 1,242, positivity rate at 7.24%

Mumbai on Tuesday reported 1,242 fresh COVID-19 cases, compared to 676 cases recorded on Monday. The city saw 506 recoveries and zero deaths in the last 24 hours, while the number of active cases stands at 5,974. The positivity rate dropped to 7.24% from Monday's 9.8%. As many as 74 patients were hospitalised on Tuesday.

India ranks lowest among 180 countries in global environment performance index

India occupies the last spot in the 2022 Environmental Performance Index released recently based on an analysis by Yale and Columbia University researchers. The Index ranked 180 countries using 40 indicators of environmental health. Pakistan and Bangladesh were also among the bottom 10 countries in 176th and 177th spots, respectively. Nepal, Sri Lanka secured 162nd and 132nd ranks, respectively.





Albania Elects General Major Bajram Begaj as New President 

Albania’s parliament has elected a top military official, General Major Bajram Begaj as its new president after no candidates were nominated in three rounds of voting.  The outgoing President Ilir Meta signed the decree on Begaj’s dismissal as Chief of General Staff of the AAF.  Earlier, Bajram Begaj held the post of the Chief of General Staff of the Albanian Armed Forces (AAF). He is Albania’s 8th president and the 3rd from the military ranks.  Bajram Begaj will take oath as the new president on 25th July 2022 to replace the current president ‘Ilir Meta’, who will remain in office until 22nd July 2022.

World Bank cuts global growth forecast to 2.9%, warns of stagflation

World Bank on Tuesday cut its global growth forecast for 2022 by 1.2 percentage points to 2.9% and warned of stagflation. It said the Russia-Ukraine war has compounded damage from COVID-19 pandemic, with many countries likely to face recession. World Bank President David Malpass said such a period of weak growth and high inflation was last seen in the 1970s.

Japan to open to foreign tourists after 2-year pandemic closure

Japan will reopen to tourists from June 10 after a two-year COVID-19 closure but will require them to wear masks and avail private medical insurance, government said on Tuesday. Tourists will be chaperoned throughout their stay and only visitors on package tours will be allowed entry during first phase of reopening. International students were allowed entry to Japan in March.

Russian envoy walks out of UN meeting as EU blames Moscow for food crisis

Russia's UN ambassador walked out of a UN Security Council meeting after European Council President Charles Michel blamed Moscow's invasion of Ukraine for causing a global food crisis. Michel said Russia's using food supplies as "stealth missile against developing countries". "You may leave the room, maybe it's easier not to listen to...truth," Michel told Vassily Nebenzia as he walked out.


Banking, Business and Economy  News


HDFC Bank hikes lending rate by 35 bps across all tenors from today, EMIs to go up

HDFC Bank has hiked its marginal cost of funds-based lending rate (MCLR) by 35 basis points across all tenors, effective June 7. As a result of the hike, housing, vehicle and personal loans will become more expensive. The bank has hiked its MCLR by 60 basis points since the RBI hiked the repo rate by 40 basis points in May.


SEBI may use US casinos-like AI tech against insider trading: Report

SEBI is in talks with a US-based AI firm to develop Vegas casinos-like AI tech to catch insider trading, Economic Times reported citing sources. If the deal goes through, the company will customise the software according to the requirements of SEBI. The company has given a live demonstration to SEBI as to how the software will work.

Digital Payments in India expected to increase triple by 2026

Stashfin is a neo banking platform which introduces #LiveBoundless – a credit line card especially for women. This card aims at giving women greater financial freedom. It also offers cashback rewards, welcome credits, Free ATM Withdrawals and deals.  The card acts as a virtual and physical medium for shopping, traveling, and eating and includes 1% cashback on every spend to benefits worth Rs 5,000 in the first year, and a free credit period for select customers.  The firm also said that the card acts as a virtual and physical medium for shopping, traveling, and eating, which makes it different from the existing players in the market.

Agreements News

Airtel Payments Bank partnered with Muthoot Finance to offer gold 

Airtel Payments Bank has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app.  There will be no-processing charge on the loan. Muthoot Finance will provide up to 75 per cent of the pledged gold value as a loan. The loan facility will also be available at the 5 lakh banking points for Airtel Payments Bank.  The partnership will give access to secured and affordable credit to customers looking for quick liquidity against their gold assets.

Ranks and Reports News

THE Asia University Rankings 2022: 4 Indian institutions in top 100 

Times Higher Education Asia University Rankings 2022 was released by the Times Higher Education (THE).  The Indian Institute of Science (IISc), Banglore continued to be the best institute of the country. It ranked at 42nd place.  IISc in the top 100 institutions from Asia were JSS Academy of Higher Education and Research debuting at 65th place, Indian Institute of Technology (IIT) Ropar at 68th rank and IIT Indore at 87th place.  India was the third most-represented country, behind Japan and mainland China with 71 institutions. 17 Indian universities topped the list under top 200.

Bloomberg Billionaires list: Mukesh Ambani richest in Asia 

Reliance Industries Limited (RIL) Chairman and Managing Director, Mukesh Ambani has regained the position of India as well as Asia's richest man, replacing Adani Group Chairman Gautam Adani.  According to the Bloomberg Billionaires Index, Ambani who has a net worth of $99.7 billion added $9.69 billion in 2022.  Mr Ambani is followed by Gautam Adani on the global billionaire list. Adani is ranked ninth with Net worth $98.7 billion in the Bloomberg Billionaire index.  Tesla CEO Elon Musk remains the world's richest person with a net fortune of $227 billion.

Awards News

IIFA awards 2022: Announced Check the complete list of winners 

The International Indian Film Academy Awards (IIFA) held in Abu Dhabi.  This year the IIFA 2022 Awards was hosted by Salman Khan, Maniesh Paul and Riteish Deshmukh.  Sidharth Malhotra's Shershaah dominated the awards this year, with the film winning in as many as five categories. Sardar Udham, Mimi and Ludo won in two categories each.

Science and Technology News launches India’s first banking metaverse Kiyaverse, a digital solutions provider serving financial institutions and governments globally, announced the launch of India’s first-ever banking metaverse "Kiyaverse".
In the first phase, Kiyaverse will allow banks to extend their own metaverse for clients, partners, and employees, through services that will include Relationship Manager & Peer Avatars and Robo-advisors.  Kiyaverse pioneers use cases of merging real-world banking with Metaverse banking through an avatar (virtual humanoid) based interactions.

World Food Safety Day 2022 Observed on 7th June

World Food Safety Day is celebrated globally on June 7 every year as per the World Health Organization (WHO).  This year, the theme is 'Safer food, better health'. WHO also launched a campaign to inspire global participation.  The United Nations General Assembly established World Food Safety Day in 2018 to raise awareness of this vital food safety issue.  The WHO and Food and Agriculture Organisation of the United Nations (FAO) jointly kickstarted World Food Safety Day in collaboration with the member states and other stakeholders.



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