General Awareness
General Awareness
General Awareness
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Daily Current Affairs
19th June 2024
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19th June 2024
● RBI also informed that DICGC (as on May 30, 2024) has already paid Rs 12.63
crore of the total insured deposits based on the willingness received from the
depositors concerned of the bank.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Shaktikanta Das
● Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T.
Rabi Shankar
Public Sector Unit Banks Maintain Dominance in Indian Banking
Landscape: SBI Report
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19th June 2024
● The Public Sector Banks (PSBs) in India hold a dominant position in the
banking sector by accounting for more than 50% of the banking business in
terms of market share, branches, and Automated Teller Machines (ATMs),
highlights a report by the State Bank of India.
● The report indicates that public sector banks hold over 63% of the total ATMs in
the country, whereas private banks manage only 35%.
Key Highlights :
● Deposit Share: Public sector banks hold 59% of total deposits in the country,
indicating higher public trust compared to private banks' 32% share.
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19th June 2024
● Digital Banking: PSBs are leaders in digital banking with over 54% of credit cards
issued, surpassing private banks' 37.8% share.
● Efficiency: PSBs operate at an efficiency rate of 82.76%, higher than private banks'
79.59%, demonstrating their operational effectiveness.
● State Bank of India (SBI): SBI stands out as the leading PSB, holding the highest
share of deposits, operating the largest ATM network, and issuing the most credit
cards.
● Sector Growth: The banking sector has shown a 6% growth in Total Factor
Productivity (TFP), primarily driven by efficiency improvements rather than
technological advancements.
● Role of Private Banks: While PSBs dominate, private banks contribute significantly
by offering diverse services and competing in the market.
● Diversification: Besides PSBs and private banks, the emergence of payment
banks, small finance banks, and Regional Rural Banks (RRBs) has diversified the
banking sector, enhancing financial inclusion.
Mutual Fund Houses Introduce Thematic Funds Focused on Thriving
Manufacturing Sector
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19th June 2024
● The mutual fund industry is all set to ride the manufacturing wave as a theme for
investment.
● The National Democratic Alliance government, under Prime Minister Narendra
Modi, is continuing incentive policies aimed at boosting corporate investments,
particularly in manufacturing.
Key Highlights :
● New Fund Offers (NFOs):Motilal Oswal Asset Management and Invesco India
MF have filed papers with SEBI to launch thematic funds focused on manufacturing.
● Mahindra Manulife AMC and Baroda BNP Paribas are also launching new fund
offers on manufacturing by the end of the month.
● Fund Performance and Assets:HDFC AMC raised ₹9,563 crore through its
manufacturing fund launched last month.
● Canara Robeco Manufacturing Fund, launched in March, already has an AUM
(Assets Under Management) of ₹1,374 crore as of May-end.
● Number of Funds:Currently, there are 8 manufacturing funds, with 3 of them being
passively managed.
● Returns:Over the last six months, manufacturing funds have provided an average
return of 34%, with Quant Manufacturing Fund offering the highest return at 36%.
● Passive funds like Mirae Asset Nifty India Manufacturing ETF FoF and Navi Nifty
India Manufacturing Index Fund delivered returns of 60% over the last year.
● Kotak Manufacture in India Fund recorded a 54% return in the same period.
● Nifty India Manufacturing - TRI saw a 62% increase over the last year and a 45%
increase over three years.
● Government Initiatives:The government aims to increase the manufacturing
sector's contribution to GDP from 17% to 25% through initiatives like 'Make in India'
and 'Atmanirbhar Bharat'.
● These efforts have diversified the global supply chain and positioned India as a key
player in the international market.
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19th June 2024
Key Proposals:
Inclusion of
Alternative Fuel
Vehicles: One proposal
seeks to incorporate
vehicles powered by
alternative sources
such as hydrogen and
biofuels, expanding the
scope beyond
conventional electric
vehicles.
Budget Allocation:
The scheme is
anticipated to be
allocated a substantial
budget, reflecting the
government's
commitment to
promoting sustainable
mobility solutions.
Strategic Objectives:
FAME 3.0 aims to
accelerate the adoption
and manufacturing of
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19th June 2024
Key Objectives:
Reducing Import Dependency: The primary goal of the National Mission on Oilseeds
is to lower India's dependency on imported edible oils.
Production Enhancement: By boosting domestic production, the mission aims to
enhance India's self-sufficiency in oilseed cultivation.
Strategic Timeline: The target timeline for achieving the production increase is set for
2025-26, aligning with broader agricultural objectives.
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19th June 2024
● The Jharkhand government, led by Chief Minister Champai Soren, plans to waive
farm loans up to ₹2 lakh.
● This is an increase from the previous waiver amount of ₹40,000.
● The free electricity quota for households will be raised from the current 125 units to
200 units.
Other Initiatives :
● Support for Unemployed Youth : Financial Support : The government aims to
support unemployed youth by offering loans of ₹25 lakh with a 40% subsidy to
facilitate the establishment of businesses for sustainable livelihoods.
● Education Sector InitiativesTeacher Recruitment:The recruitment process for
40,000 assistant teachers is underway and expected to be completed by September.
● Recruitment of tribal and regional language teachers is scheduled to begin next
month.
● Development Projects and Housing SchemeDevelopment Projects:Inaugurated
and laid foundation for 182 development projects valued at ₹152.76 crore.
● Housing Scheme:The state government initiated construction and distribution of
houses under the Abua Awas Yojana for tribal communities.
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19th June 2024
About Jharkhand :
● Governor : C. P. Radhakrishnan
● Chief Minister : Champai Soren
● Capital : Ranchi
● Tiger Reserve : Palamu Tiger Reserve
● Wildlife Sanctuary : Dalma Wildlife Sanctuary, Gautam Budha Wildlife Sanctuary,
Udhwa Lake Bird Wildlife Sanctuary
Madhya Pradesh Finalizes Preparations for Second Cheetah Habitat at
Gandhi Sagar Sanctuary
● The Madhya Pradesh (MP) government has completed its preparations for the
reintroduction of the cheetahs in the Gandhi Sagar Wildlife Sanctuary, which
will be the second home for cheetahs in India, after the Kuno National Park (KNP).
● Under the ambitious cheetah reintroduction project, 8 Namibian cheetahs were
released into enclosures at KNP in MP’s Sheopur district on September 17, 2022.
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● Later (in February 2023), 12 more cheetahs were brought from South Africa.
Why is Gandhi Sagar an ideal habitat for cheetahs?
● According to MP’s wildlife officials, the sanctuary makes for perfect cheetah habitat,
as it looks like Maasai Mara - a national reserve in Kenya known for its savanna
wilderness and wildlife.
About the Gandhi Sagar Wildlife Sanctuary :
● The sanctuary (notified in 1974) is spread across (an area of 368.62 sq km) the
districts of Mandsaur (187.12 sq km) and Neemuch (181.5 sq km) in western MP,
right on the border with Rajasthan.
● The Chambal River cuts the sanctuary into two almost equal halves and the Gandhi
Sagar dam (constructed on the river in 1960) lies within the area of the sanctuary.
● Preparations for the Introduction of Cheetahs in Gandhi Sagar : A 64 sq km
area has been developed for the cheetahs at a cost of Rs. 17.72 crores.
● A soft release enclosure (boma) of 1 sq km, with four equal partitions, has been
constructed to provide a suitable and secure habitat.
● The Chairperson of the Cheetah Steering Committee was tasked to oversee and
evaluate the overall readiness of the WLS to “ensure that the sanctuary is
adequately equipped and prepared to support the successful integration and
conservation of cheetahs within its natural landscape”.
● Previous Cheetah Releases : On September 17, 2022, 8 Namibian cheetahs – 5
females and 3 males were released into enclosures at Kuno National Park in
Sheopur district.
● In February 2023, 12 more cheetahs were brought from South Africa.
● Now, only 13 of the 20 adult cheetahs survive.
● Another 13 cubs born to these cheetahs put the total population of the animals in
Kuno at 26 currently.
About MP :
● Governor : Mangubhai C. Patel
● Chief Minister : Mohan Yadav
● Capital : Bhopal
● National Park : Satpura National Park, Kanha National Park, Bandhavgarh National
Park
● Wildlife Sanctuary : Nauradehi Wildlife
Sanctuary, Bori Wildlife Sanctuary
CURRENT AFFAIRS: BUSINESS
NEWS
Dassault Systèmes Aims for $1
Billion Revenue from India by 2027
Dassault Systèmes, the technology arm of
the Paris-based Dassault Group, has set
an ambitious target of achieving $1
billion in revenue from India by 2027.
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The company, renowned for its virtual twin technology across various industries, sees
India as a rapidly growing market.
Key Points:
Revenue Projection: Dassault Systèmes anticipates reaching $1 billion in revenue
from India by 2027, leveraging the fast-growing demand for virtual twin solutions.
Global Perspective: Globally, the company reported revenue close to 7 billion euros in
2023, highlighting its substantial presence and capabilities.
Virtual Twin Technology: Dassault Systèmes offers virtual twin technology across
industries such as aerospace, healthcare, automotive/EV manufacturing, and consumer
goods.
This technology enables iterative product development and evaluation in a simulated
environment, minimizing costs and time.
Post-Pandemic Insights: A joint study by Dassault Systèmes and Nasscom revealed a
significant increase in virtual twin implementations among mid-sized enterprises post-
pandemic, underscoring its growing relevance and adoption.
Key Details:
Project Scope: The solar power project will generate 550 MW and supply electricity to
C&I consumers under long-term power purchase agreements (PPAs) and through the
merchant market via exchanges.
Green Energy Corridor: The project will be integrated into India's inter-state
transmission system, contributing to the nation's green energy corridor initiative.
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19th June 2024
IFC's First Hybrid Offtake Structure in Asia-Pacific: This investment marks IFC's first
in the region using a hybrid offtake structure, combining corporate PPAs with C&I
consumers and merchant market sales.
India's Renewable Energy Ambitions: India aims to scale up its non-fossil fuel
capacity to 500 GW by 2030, fostering a conducive environment for significant
investments in renewable energy.
Key Points:
Export Growth: India's exports to the
UK surged, reaching $1.37 billion in
May 2024, marking a one-third
increase.
Comparison with China: While
exports to the UK grew significantly,
exports to China also increased but at
a slower rate of 3%, totaling $1.33
billion.
Previous Ranking: The UK was
previously ranked sixth in India's export
markets, indicating a substantial rise in
its position.
Trend Analysis: Although specific
disaggregated data for May wasn't
detailed, recent months have shown a
consistent upward trend in exports to
the UK.
The United States (US) continued to
remain India's largest export
destination, with 13 per cent growth, followed by the United Arab Emirates (UAE), which
saw 19 per cent jump.
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Export to the Netherlands, which is also India’s third-largest export market, soared to
$2.19 billion with nearly 44 per cent growth in May 2024.
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Daily Current Affairs
19th June 2024
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19th June 2024
About GWEC :
● Established : 2005
● Headquarters : Brussels, Belgium
● CEO : Ben Backwell
● Membership: Represents over 1,500 companies, organizations, and institutions in
more than 80 countries, including manufacturers, developers, suppliers, research
institutes, and renewable energy associations.
● GWEC is a member-based organisation that represents the entire wind energy
sector.
CURRENT AFFAIRS : PERSON IN NEWS
Maharashtra Farmer Siddhesh Sakore Honoured as Land Hero by United
Nations Convention to Combat Desertification
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Key Highlights :
● Global Context: Land degradation affects up to 40% of the world's land and
nearly half the world's population, with the highest costs borne by indigenous
communities, rural households, smallholder farmers, and especially youth and
women.
● Youth Engagement: Engaging youth in land restoration could create an estimated
600 million jobs over the next 15 years, contributing to economic growth and
environmental sustainability.
About UNCCD :
● Establishment: June 17, 1994.
● Headquarters: Bonn, Germany.
● Executive Secretary: Ibrahim Thiaw.
● Membership: Comprises 197 parties, including 196 countries and the European
Union.
● Rio Conventions: The UNCCD is one of the three Rio Conventions, alongside the
United Nations Convention on Biological Diversity (UNCBD) and the United
Nations Framework Convention on Climate Change (UNFCCC).
● Mandate: The UNCCD aims to combat Desertification, Land Degradation, and
Drought (DLDD) by promoting sustainable land management practices, restoring
degraded ecosystems, and supporting communities affected by these issues.
CURRENT AFFAIRS : SCIENCE & TECHNOLOGY
Scientists from Physical Research Laboratory Discover Three New
Craters on Mars
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● One crater has been named “Lal crater” after Prof. Devendra Lal, a renowned Indian
geophysicist and former director of PRL from 1972-1983.
● It is a 65 km wide crater, centred at -20.98° and 209.34°.
● The second crater has been named “Mursan crater” after a town in Uttar Pradesh,
India.
● Mursan crater is a ~10 km wide crater superimposed on the eastern side of the rim
of the Lal crater.
● The third crater is “Hilsa crater”.
● It is a ~10 km wide crater superimposed on the western side of the rim of the Lal
crater.
● It is named after a town in Bihar, India.
What is a Crater?
● A crater is a depression or hole on the surface of a planetary body.
● Craters are typically formed by the impact of objects (such as meteorites) or by
geological processes like volcanic activity or explosions.
About Physical Research Laboratory (PRL) :
● Established : 1947 by Dr. Vikram Sarabhai, who is considered the father of India’s
space program.
● Location : Ahmedabad, Gujarat, India
● Director : Anil Bhardwaj
● The PRL is a National Research Institute for space and allied sciences,
supported mainly by the Department of Space, Government of India.
About International Astronomical Union :
● Established : 28 July 1919
● Headquarters : Paris, France
● President : Debra Meloy Elmegreen
● General Secretary : Piero Benvenuti (interim)
● The IAU is an international non-governmental organization (INGO) with the
objective of advancing astronomy in all aspects, including promoting astronomical
research, outreach, education, and development through global cooperation.
Woman-Led Start-up Develops 'Divya Drishti', a Cutting-Edge AI
Personal Identification Tool Under Technology Development Fund
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19th June 2024
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19th June 2024
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19th June 2024
Men's 400m Champion: Bapi Handsa set a meet-record of 47.12s to clinch gold in the
men's 400m, demonstrating his impressive form despite missing his personal best.
Women's 100m Victory: Abhinaya Rajarajan claimed the gold in women's 100m with a
time of 12.09s, adding to her recent achievements in athletics.
History
The United Nations General Assembly declared World Sickle Cell Day in 2008 to
promote awareness of sickle cell illness.
They also highlighted the agony and emotional devastation that a patient with the
condition must endure.
As a result, on June 19, 2009, World Sickle Cell Day was commemorated for the first
time. Sickle cell disease has spread throughout the world and has gradually evolved into
a hereditary and genetic illness. Due to the fact that a large population is now infected
with the illness, it is critical that sufferers receive increased knowledge, effective care,
and treatment.
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19th June 2024
Furthermore, correct diagnosis and early therapy aid in the better management and
treatment of the condition. In addition to the UN, the WHO now offers a number of
options for treating illness patients in a more humane manner.
According to official data and sources, more than 1000 newborns die of the condition
before they reach the age of five.
The illness has spread rapidly over Africa and the United States, affecting more than
90,000 to 100,000 people.
In addition, sickle cell anaemia affects people in India, Saudi Arabia, Turkey, the Arabic
peninsula, Brazil, Surinam, Guiana, Southern Italy, Greece, and other nations.
The City Union Bank (CUB) has introduced digital lending processes tailored for
Micro, Small, and Medium Enterprises (MSMEs).
The Reserve Bank of India (RBI) has cancelled the licence of Purvanchal Co-
operative Bank, Ghazipur, Uttar Pradesh as it does not have adequate capital and
earning prospects.
The Public Sector Banks (PSBs) in India hold a dominant position in the banking
sector by accounting for more than 50% of the banking business in terms of
market share, branches, and Automated Teller Machines (ATMs), highlights a report
by the State Bank of India.
The mutual fund industry is all set to ride the manufacturing wave as a theme for
investment.
The Jharkhand government, led by Chief Minister Champai Soren, plans to waive
farm loans up to ₹2 lakh.
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visit: Guidely Optimum CA , Smart Quiz GA, Daily CA & CA Quiz, e-Magazine
Daily Current Affairs
19th June 2024
The Madhya Pradesh (MP) government has completed its preparations for the
reintroduction of the cheetahs in the Gandhi Sagar Wildlife Sanctuary, which will
be the second home for cheetahs in India, after the Kuno National Park (KNP).
Rajeev Krishnamuralilal Agarwal has been appointed as Non-Executive
Independent Director at One 97 Communications Limited (OCL), the company that
owns the Paytm brand.
Suzlon Vice Chairman Girish Tanti has been elected as the Chair of Global Wind
Energy Council India (GWEC India).
Siddhesh Sakore, a farmer and the founder of AGRO RANGERS, from Maharashtra,
has been named Land Hero by the United Nations Convention to Combat
Desertification (UNCCD).
The scientists of Ahmedabad-based Physical Research Laboratory (PRL) have
discovered three new craters on Mars.
A woman-led start-up, Ingenious Research Solutions Private Limited, developed
'Divya Drishti', an Artificial Intelligence (AI)-based tool combining facial recognition
with gait analysis.
On the 19th of June every year, World Sauntering Day is observed each year all over
the world to encourage people to slow down and appreciate the world around them and
connect with nature
Every year on June 19th, World Sickle Cell Day is commemorated to raise awareness
of the human Sickle Cell illness
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Daily Current Affairs
19th June 2024
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