1. Government launches Mission on Advanced and High-Impact Research, MAHIR
Tags: National National News
The government launched the Mission on Advanced and High-Impact Research, MAHIR, in the power sector.
An Overview of the News
The objective of the mission is to identify emerging technologies and develop them indigenously for use within and outside the country.
It focuses on facilitating indigenous research, development and demonstration of latest technologies in the power sector.
It aims to leverage these technologies for future economic growth and make India a global manufacturing hub.
The mission is planned for an initial period of five years from 2023-24 to 2027-28.
Minister of Power and New & Renewable Energy - RK Singh
Make in India:
Launched on 25 September 2014.
Objective: To facilitate investment, promote innovation and create best-in-class infrastructure.
Goal: To make India a manufacturing, design and innovation hub.
Startup India:
Launched on January 16, 2016.
Objective: To nurture and support startups, encourage entrepreneurship and innovation.
Benefits: Tax exemptions, simplified rules and access to funding opportunities.
2. India Sri Lanka Defense Seminar cum Exhibition to be held at Taj Samudra in Colombo
Tags: International News
India Sri Lanka Defence seminar cum exhibition to be held on 6 June at Taj Samudra in Colombo.
An overview of the news
The seminar seeks to identify potential areas of cooperation for economic revival and capacity building of the Sri Lankan Armed Forces.
It aims to strengthen the partnership between India and Sri Lanka in defence-related matters.
The event will feature a comprehensive exhibition that showcases the capabilities of both countries in defence equipment manufacturing.
The exhibition will be open to the public, offering them an immersive experience of various defence equipment on display.
The exhibition promotes exchange of ideas and promotes dialogue and encourages meaningful partnerships in the defense sector.
Objective of the event
The event aims to highlight and celebrate India's prowess in defence manufacturing while fostering a stable and peaceful Indian Ocean region.
It aligns with India's vision of Security and Growth for All in the Region.
Successful Utilization of Indian Defence Equipment
The Sri Lankan Armed Forces have successfully utilized a wide range of Indian defence equipment, including the Indra Radar, Advanced Offshore Patrol Vessels, L 70 Guns, Dornier Aircraft, and Army training simulators.
This highlights the effectiveness and reliability of Indian defence technology.
Mutual Benefits
The Indian armed forces have also benefited from the use of Fast Interceptor Crafts and the refit of a Floating Dock in Colombo.
In line with India's 'Neighborhood First' policy, the Government of India has committed to supplying additional equipment such as a Floating Dock, a Maritime Rescue Coordination Centre, and Dornier aircraft.
This commitment further strengthens the capacity building of the Sri Lankan Armed Forces.
Significance of the Event
The India-Sri Lanka Defence Seminar and Exhibition hold great importance as a landmark event.
It fosters greater cooperation and collaboration between the two nations, ultimately contributing to regional peace and stability in the Indian Ocean.
Boost for Indigenous Defence Manufacturing
With the Sri Lankan Armed Forces utilizing Indian defence equipment, the seminar and exhibition are likely to provide a boost for indigenous defence manufacturing.
It showcases India's technological capabilities and encourages self-reliance in defence production.
3. Five new countries elected as non-permanent members of the UN Security Council
Tags: International News
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Algeria, Guyana, the Republic of Korea, Sierra Leone and Slovenia were elected non-permanent members of the UN Security Council on 6 June for a two-year term.
An overview of the news
The newly elected members will take up their new responsibilities on January 1, 2024 and serve till December 31, 2025.
Slovenia defeated Belarus by a vote of 153 to 38, while Algeria, Guyana, Sierra Leone and the Republic of Korea were elected unopposed.
These new members will replace Albania, Brazil, Gabon, Ghana and the United Arab Emirates at present when their two-year term ends on 31 December 2023.
Election of non-permanent members
Voting is done by secret ballot and candidates have to get a two-thirds majority, or 128 votes.
In all, 192 countries voted to fill five seats on the council allocated to the Africa and Asia-Pacific groups, and one each to Eastern Europe and Latin America and the Caribbean.
About United Nations Security Council (UNSC)
It was established in 1945 by the United Nations Charter.
It is one of the six major organs of the United Nations.
The other 5 organs of the United Nations are - the United Nations General Assembly (UNGA), the Trusteeship Council, the Economic and Social Council, the International Court of Justice and the Secretariat.
It has five permanent members - China, France, Russia, the United Kingdom, and the United States, collectively known as the P5.
Any one of them can veto a resolution.
Headquarters - New York
4. Oil tanker breaks down in Egypt's Suez Canal
Tags: International News
On 4 June, an oil tanker broke down in the Suez Canal, a major global waterway, disrupting traffic and temporarily halting the transit of other ships.
An overview of the news
As a result of the breakdown, eight other vessels in the convoy were affected by the disruption.
The Seavigour was part of the north convoy, which moves from the Mediterranean Sea to the Red Sea.
The Suez Canal Authority deployed three tugboats to tow the stranded tanker away from the single-lane area.
The goal was to move the tanker to a double-lane section at the 17 kilometer mark, allowing other vessels to continue their transit.
About Seavigour
According to MarineTraffic, the Seavigour is a tanker built in 2016, measuring 274 meters (899 ft) in length and 48.63 meters (159 ft) in width.
Previous Incidents in the Suez Canal
The recent incident adds to a series of vessels encountering difficulties in the vital waterway.
Notably, inMarch 2021, the Panama-flagged Ever Given, a massive container ship, blocked the canal for six days, causing significant disruptions to global trade.
About Suez Canal
The Suez Canal, operational since 1869, serves as a crucial link for oil, natural gas, and cargo transportation.
The Suez Canal is an artificial sea-level waterway running north to south from the Isthmus of Suez in Egypt to connect the Mediterranean Sea and the Red Sea.
This canal separates the continent of Africa from Asia.
It provides the shortest sea route between Europe and the lands surrounding the Indian and Western Pacific Oceans.
The Suez Canal is one of the busiest trade routes in the world. About 12 percent of the world's total trade passes through this canal daily.
5. Defence Minister Rajnath Singh holds talks with his US counterpart Lloyd Austin
Tags: International Relations International News
Defence Minister Rajnath Singh, held discussions with US Defence Secretary Lloyd Austin in New Delhi on 5th June.
An overview of the news
The meeting focused on strengthening defence cooperation in various areas, including aligning strategic interests and enhancing security cooperation.
During the talks, Minister Singh emphasized the significance of the India-US partnership in ensuring a free, open, and rules-based Indo-Pacific region.
He expressed India's commitment to closely collaborate with the United States across different domains, aiming for capacity building and further strengthening strategic partnership.
Both ministers explored opportunities to build resilient supply chains and identified areas for co-development of new technologies and co-production of existing and new systems.
Facilitation to enhance cooperation between the defense start-up ecosystems of the two countries was also discussed.
A roadmap for US-India defense industrial cooperation was agreed upon, which will shape their cooperation in the years to come.
They welcomed the recent dialogues focused on Defense Artificial Intelligence and Defense Space.
Regional security issues were also discussed, reflecting their shared interest in promoting peace and stability in the Indo-Pacific region.
The meeting was attended by senior officials of the Ministry of Defense including Chief of Defense Staff General Anil Chauhan, Defense Secretary Giridhar Armane and DRDO Secretary and Chairman Dr Sameer V Kamat.
India America relations
Historical Background
The establishment of diplomatic relations between India and the United States dates back to 1947.
Both countries share common values of democracy, pluralism and rule of law.
Strategic Partnership
India and the United States have developed a strong strategic partnership based on shared interests and values.
The partnership has seen significant growth in various areas including defence, trade and technology.
Defense and Security Cooperation
Defense cooperation between India and the US has expanded significantly in recent years.
Both countries engage in joint military exercises, defense equipment cooperation and intelligence sharing.
Defense ties have been strengthened by the signing of the US-India Defense Technology and Trade Initiative (DTTI).
Economic and trade relations
Economic relations between India and America have grown steadily.
The US is one of India's largest trading partners and bilateral trade has grown over the years.
Both the countries have signed various agreements to enhance economic cooperation and promote investments.
Technology and Innovation
India and the US cooperate in the fields of science, technology and innovation.
Cooperation has been promoted in areas such as space exploration, clean energy and information technology.
The US has supported India's initiatives like Digital India and Skill India.
6. Bangladesh records highest inflation rate in over a decade
Tags: International News
Bangladesh recently experienced its highest monthly inflation rate in over a decade, with inflation reaching 9.94 percent in May.
An overview of the news
This rate is the highest since 2010-11 when it was recorded at 10.11 percent.
The data was released by the Bangladesh Bureau of Statistics (BBS).
The increase in inflation is primarily attributed to the rise in both food and non-food prices during this period.
The average inflation rate for the period between June 2022 and May 2023 has risen to 8.84 percent, surpassing the budgetary target of 5.6 percent.
In comparison, the inflation rate in April 2023 was reported at 9.24 percent, and in March, it was 9.33 percent.
These figures indicate higher inflation compared to the corresponding months in April 2022 (6.29 percent) and March 2022 (6.22 percent).
To calculate inflation, the BBS has changed the base index from 2005-06 to 2021-22 and adopted a revised methodology for the compilation of the Consumer Price Index (CPI) based on the latest 2020 CPI manual of the International Monetary Fund (IMF).
People’s Republic of Bangladesh
Capital: Dhaka
Prime Minister: Sheikh Hasina Wazed
President: Abdul Hamid
Currency: Taka
7. 1st India-Namibia Joint Commission of Cooperation
Tags: International Relations International News
External Affairs Minister S. Jaishankar recently co-chaired the first India-Namibia Joint Commission with Namibian Foreign Minister Netumbo Nandi-Ndaitwah in Windhoek.
An overview of the news
In his opening remarks, Dr. Jaishankar highlighted the special place Namibia holds in the hearts of Indians.
He emphasized that India supports Namibian independence and expressed happiness at Namibia's rightful place in the international community.
Dr. Jaishankar underlined the strong bond between India and Namibia, which is characterized by developmental cooperation, capacity building programs and political solidarity.
The Joint Commission will assess the progress of India-Namibia relations. In addition, high-level visits and ongoing interactions will strengthen the India-Namibia partnership in the future.
During his visit, the External Affairs Minister inaugurated the India-Namibia Center of Excellence in Information Technology in Windhoek. The center will contribute to research, cyber security and good governance.
About Namibia
Namibia is a country located in southwestern Africa, bordering the Atlantic Ocean to the west.
It shares borders with Angola, Zambia, Botswana and South Africa.
The country's diverse geography includes the Namib Desert along the Atlantic coast, the Kalahari Desert to the east, and the central plateau.
Namibia gained independence from South Africa on March 21, 1990, becoming the last African country to gain independence from colonial rule.
Windhoek is the capital and largest city of Namibia.
Namibia is known for its stunning natural landscapes and diverse wildlife.
Etosha National Park, located in the north of the country, is a popular destination for wildlife enthusiasts, offering the chance to see elephants, lions, giraffes, rhinos and various bird species.
8. President Droupadi Murmu conferred with highest civilian honour of Suriname
Tags: Awards International News
Suriname awarded President Draupadi Murmu its highest civilian honour, the Grand Order of the Chain of Yellow Star, on 5 June, making her the first Indian to receive the award.
An overview of the news
President Murmu was presented with the award by Chandrikaprasad Santokhi, President of the Republic of Suriname.
He dedicated the award to successive generations of the Indian-Surinamese community, in recognition of the important role of the Indian diaspora in strengthening the fraternal ties between the two countries.
During her state visit to Serbia and Suriname, President Draupadi Murmu arrived in Paramaribo, Suriname on 4 June.
In addition, India and Suriname signed four important Memorandum of Understandings (MoUs) in the fields of health, agriculture and capacity building.
The agreements were finalized after delegation level talks between President Murmu and President Santokhi.
About Suriname
Suriname is a country located on the northern coast of South America. It is one of the smallest countries in South America.
Formerly known as Dutch Guiana, Suriname was a plantation colony of the Netherlands that gained its independence on November 25, 1975.
President: Chandrikapersad Santokhi
Capital: Paramaribo
Official Language: Dutch
Currency: Suriname dollar
9. RBI Governor launches financial inclusion dashboard Antardrishti
Tags: Economy/Finance National News
Reserve Bank of India Governor Shaktikanta Das launched a financial inclusion dashboard named 'Antardrishti' on 6 June.
An overview of the news
The dashboard will provide necessary insights to assess and monitor the progress of financial inclusion by capturing relevant parameters.
The progress of financial inclusion will be assessed against set parameters through an Antardrishti dashboard. Along with this, it will also help in monitoring.
With the help of the dashboard, the areas of lack of financial services on a large scale in the country can be detected and then work will be done on the basis of this.
Currently, the Antardrishti Dashboard will be used internally by RBI.
Multi stakeholder approach will be adopted for the Antardrishti Dashboard to enhance financial inclusion in future.
Financial Inclusion Index
The Financial Inclusion Index was launched in 2021 to measure financial inclusion.
In this, financial inclusion is measured on the basis of access, utility and quality.
This index also includes information related to banking, investment, insurance and postal services etc. of an area.
This index ranges from 0 to 100.
0 indicates complete financial exclusion, while 100 indicates complete financial inclusion.
Reserve Bank of India (RBI)
Reserve Bank of India was set up under the Reserve Bank of India act 1934. It started functioning from 1 April 1935.
It was nationalized in 1949 and now the government of India is the owner of RBI.
It has the power to regulate Banks under the Banking Regulation Act 1949.
It has the power to regulate the Non-Banking Financial Company (NBFC) under the RBI act 1934.
RBI is also the regulator of the digital payment system under the Payment and settlement act 2007.
Headquarters of RBI: Mumbai
Governor of RBI : Shaktikanta Das
10. 3rd Health Working Group Meeting at Hyderabad
Tags: National Summits National News
The third meeting of the G20 Health Working Group (HWG) was held at Hyderabad from June 4 to 6.
An overview of the news
Union Minister of State for Health and Family Welfare Dr. Bharti Praveen Pawar addressed the 3rd Health Working Group meeting under the G20 India Presidency.
The 3rd meeting of the HWG held a main event focusing on cooperation in R&D of Medical Counter Measures (MCMs).
Highlights of the event
Co-branded events
The meeting included co-branded events with the Global Vaccine Research Collaborative and the Joint Finance Health Task Force meeting.
The objective of these events is to increase cooperation in the field of healthcare.
Participant
The meeting was attended by representatives of 19 G20 member states, 10 invited countries and 22 international organizations.
Proposed deliverables
The HWG has proposed a number of deliverables, including a mapping of ongoing initiatives in health emergencies, prevention, preparedness and response.
The launch of a Climate Change and Health Centre, regional networks for vaccines, therapeutics and diagnostics (VTD) research and development, and the creation of a global medical countermeasure coordination platform were also discussed.
Global Initiative on Digital Health
Another proposed 'Global Initiative on Digital Health' was launched.
The initiative aims to establish an institutional framework for convergence of existing digital health initiatives.
Past HWG Meetings
Health priorities were introduced and discussed in detail during the HWG meetings held in Thiruvananthapuram and Goa earlier this year, emphasizing the importance of advancing health objectives.
Showcasing India's Life Sciences and Pharmaceutical Manufacturing
Delegates will have the opportunity to visit 'Genome Valley' in Hyderabad, a well-known hub for global life science companies.
The visit will highlight India's expertise in life science research and drug manufacturing.
Genome Valley is responsible for 33% of global vaccine production, including vaccines for diseases such as COVID-19, polio and rotavirus.
