Weekly Current Affairs 16th to 22nd June 2022

RBI, Banking and Economy

• RBI lifts restrictions on Mastercard over onboarding new customers
  • The Reserve Bank of India (RBI) lifted the ban imposed on Mastercard and allowed the card network to onboard new customers for debit, credit, or prepaid cards, as it is satisfied with the RBI’s Payments Vision 2025
  • The Reserve Bank of India (RBI), in a document for payments systems, titled “Payments Vision 2025”, outlined its vision on the architecture of digital finance.
  • The Payments Vision 2025 has the core theme of E-payments for everyone, everywhere, every time (4Es) and aims to provide every user with safe, secure, fast, convenient, accessible and affordable e-payment options.

• India's trade deficit hits record high of $24.3 bn in May: Govt data
  • According to the latest data released by the commerce ministry, India’s trade deficit hit a record $24.3 billion in May.
  • The previous highest monthly trade deficit was $22.91 billion in November 2021.

SEBI and FINANCIAL AWARENESS

• SAT quashes SEBI order on ICEX recognition
  • The Securities Appellate Tribunal (SAT) quashed an order passed by market regulator Securities and Exchange Board of India (SEBI) withdrawing permanent recognition to the Indian Commodity Exchange (ICEX).
  • The tribunal held that the exchange should be given another chance to revive.

• SEBI forms advisory panel to hybrid securities to enable larger retail play
  • Markets regulator SEBI has set up an advisory committee on hybrid securities, which will make recommendations for giving a fillip to the growth of such instruments, including measures focusing on ease of issuance and attracting domestic and global capital.
  • The 20-member committee will be chaired by K V Kamath,.

• PVR, Inox get SEBI nod for merger to create India's largest multiplex chain
  • Multiplex operators PVR and Inox have approval from the Securities and Exchange Board of India (SEBI) for their merger, clearing an important step in the regulatory process.
  • The two companies had announced a merger to create India’s largest multiplex chain with a network of more than 1,500 screens.

NABARD & Agriculture

• ALL-INDIA CONSUMER PRICE INDEX NUMBERS FOR AGRICULTURAL AND RURAL LABOURERS – MAY, 2022
  • The All-India Consumer Price Index Number for Agricultural Labourers and Rural Labourers (Base: 1986-87=100) for the month of May, 2022 increased by 11 points & 12 points to stand at 1119 (One thousand one hundred and nineteen) and 1131 (One thousand one hundred and thirty one) points respectively.

NATIONAL

• 3-year degree programme for Agnipath recruits
  • A day after the Cabinet approved the ‘Agnipath’ scheme for temporary recruitment to the armed forces, the Union Education Ministry said it will launch a three-year degree programme that will give credits to serving defence personnel who avail themselves of the scheme.

• Steel Minister Inaugurates First Six - lane Highway Road made of Steel Slag
  • Union Minister of Steel Sh. Ram Chandra Prasad Singh inaugurated the first six lane highway road made by using Steel Slag at Surat, Gujrat to connect the port with the city.
  • The road constructed by 100% use of steel processed slag is a real example of converting waste into wealth and improving sustainability of steel plants.

• Use of ICT in school education in India receives UNESCO’s recognition
  • Use of ICT under a comprehensive initiative called PM eVIDYA by the Department of School education, Ministry of Education, particularly during the COVID-19 pandemic wins UNESCO’s recognition.

INTERNATIONAL

• Egypt, Israel step in to boost gas supply to EU
  • Egypt, Israel and the European Union signed a deal to increase liquified natural gas sales to EU countries.
  • Under the deal, the EU will help Egypt and Israel increase their gas production and exploration in their territorial waters.

• First Ever Virtual Summit of I2U2
  • I2U2 group has been formed as part of the United States Government's efforts to re-energize and revitalize American alliances all over the world.
  • The first-ever virtual summit of the I2U2 grouping will be held in July 2022 .

• Sara Duterte sworn in as Philippines vice president
  • Sara Duterte has been sworn in as Philippines’ 15th vice president.
  • President-elect Ferdinand Marcos Jr will take his oath in Manila on June 30.

STATES

• Delhi to Do away with archaic language in official papers
  • Lieutenant-Governor of Delhi V.K. Saxena has instructed government departments to do away with the colonial practice of using “archaic language” in official communication and documents.

• Justice B.S. Patil is Karnataka Lokayukta
  • Justice Bhimanagouda Sanganagouda Patil was sworn in as Karnataka Lokayukta.
  • He was a Upa Lokayukta since 2019 and in-charge of Karnataka Lokayukta ever since Justice P. Vishwanath Shetty retired in January 2022.

• Home ministry approves over Rs 1,000 crore grant for Rajasthan, Nagaland
  • A high-level committee (HLC) under the chairmanship of Union Home Minister Amit Shah approved an additional central assistance of over Rs 1,000 crore under the National Disaster Response Fund (NDRF) to Rajasthan and Nagaland, which were affected by drought during 2021-22.

REPORTS AND INDEXES

• World Competitiveness Index 2022
  • Switzerland-based Institute of Management Development (IMD) has released the World Competitiveness Index 2022.
  • Top Ranked Nations: Denmark has moved to the top of the 63-nation list from the third position last year.
  • India’s Rank: India has jumped six positions to 37th rank on the annual World Competitiveness Index for the year 2022.

• Nearly 5 mn in India displaced due to climate change, disasters in 2021: UNHCR
  • The annual Global Trends Report was released by the United Nations High Commissioner for Refugees (UNHCR).
  • According to the report, nearly five million people in India were internally displaced due to climate change and disasters in 2021.

• In five years, 39% mobile users in India will use 5G: Ericsson report
  • Swedish telecom gear maker Ericsson released a mobility report.
  • Ericsson expects 500 million 5G mobile phone users in India by 2027, accounting for 39 per cent of total customer base.

DEFENCE

• Short-Range Ballistic Missile, Prithvi-II, successfully tested
  • India successfully test-fired it’s indigenously developed nuclear capable Prithvi-II missile from a test range off the Odisha coast.
  • The surface-to-surface missile Prithvi II has a strike range of 350 km.

• “EX SAMPRITI-X” CONCLUDES AT JASHORE, BANGLADESH
  • The 10th edition of Indo-Bangladesh bilateral Joint Military Exercise “Ex SAMPRITI-X” concluded at Jashore Military Station, Bangladesh.
  • The aim of the exercise was to strengthen the military relations between the two countries.

• MoU Signed between Indian Navy and NCMRWF
  • National Centre for Medium Range Weather Forecasting (NCMRWF), Ministry of Earth Sciences, signed Memorandum of Understanding (MoU) with Indian Navy, Ministry of Defence for ‘Cooperation on Numerical Model Based Applications in Meteorology and Oceanology’.

EVENTS

• India hosted 10 ASEAN Foreign Ministers at special conclave 
  • India hosted the foreign ministers of Association of Southeast Asian Nations (ASEAN) nations from June 16 to 17 to mark the 30th anniversary of its relations with the 10-nation grouping.
  • Singapore’s Foreign Minister Vivian Balakrishnan co-chaired the “Special Asean-India Foreign Ministers’ Meeting” with External Affairs Minister S Jaishankar. 

• Xi to host BRICS virtual summit 
  • Prime Minister Narendra Modi will join Russian President Vladimir Putin as well as Brazil’s Jair Bolsonaro and South Africa’s Cyril Ramaphosa in the virtual meet.
  • Chinese President Xi Jinping will host a virtual summit of the leaders of the BRICS countries on June 23. 

• International Literature Festival 
  • The Ministry of Culture, Government of India, and Sahitya Akademi are organizing Unmesha, an International Literature Festival in Shimla from 16th to 18th June 2022 as part of Azadi ka Amrit Mahotsav celebrations, with the support of Department of Art and Culture, Government of Himachal Pradesh.

AWARDS AND REWARDS

• 67th Railway Week Award Function of Railway Board Celebrated 
  • The 67th Railway Week Function of Railway Board was organized on 16th June, 2022 in Rail Bhavan, New Delhi.
  • Chairman & CEO, Railway Board, Shri Vinay Kumar Tripathi presided over the function and presented Running Efficiency Shield to Efficiency & Research, section selected as Best Kept Section for maintaining high standards of efficiency, prompt disposal of cases and excellent up-keep of records.

• Prime Minister’s Awards for Outstanding Contribution towards the Development and Promotion of Yoga-2021 
  • The Prime Minister's Award for Outstanding Contribution towards the Development and Promotion of Yoga, one of the most coveted honours in the field of Yoga, has been announced for the year 2021.
  • Two individuals, namely Shri Bhikkhu Sanghasena Leh, Ladakh and Shri Marcus Vinicius Rojo Rodrigues, Sao Paulo, Brazil, and two organisations, namely, The Divine Life Society, Rishikesh, Uttarakhand and the British Wheel of Yoga, United Kingdom are the recipients of the same.

SPORTS

• Hardik to lead India in Ireland T20Is 
  • All-rounder Hardik Pandya will captain India in the two-match T20I series against Ireland to be played in Dublin on June 26 and 28.

• Dr Jaishankar and Shri Anurag Thakur inaugurate first-ever SAI Squash Courts 
  • Union Minister for External Affairs Dr. S Jaishankar and Union Minister for Youth Affairs and Sports Shri Anurag Singh Thakur inaugurated the Squash Courts at the Major Dhyanchand Stadium in New Delhi.

• Kuortane Games in Kuortane, Finland 
  • Olympic champion Neeraj Chopra won the javelin gold with his opening throw of 86.69m at the Kuortane Games in Kuortane, Finland.
  • It was Neeraj’s first gold this year.
  • Sandeep Chaudhary was eighth and last (60.35m).