Current Affairs

1. "Cricket's inclusion in Olympics"

After achieving grand success in the Asian Games and Commonwealth Games, cricket will be making its grand return after 128 years at the Olympics as the sport (last played at Olympics in 1900), along with 4 more will be played at the Los Angeles Games of 2028, as offically approved by the International Olympics Committee. 

President of the LA Local Organizing Committe said that cricket is among the most followed sports. In this regard he mentioned about Virat Kohli saying that 'he's the 3rd most followed athlete in the world on social media, that's more than LeBron James, Tom Brady and Tiger Woods combined'. 

Cricket stands as the 2nd most followed sport on a global scale, trailing only behind football. 

2. "Highlights of events today"

• Indian Envoy to Panama Sumit Seth concurrently accredited as the next Indian Ambassador to Costa Rica.   

• Russian President Putin in China to meet Xi Jinping. 

• Biden in Israel. Announces $100 million humanitarian assistance for Gaza and the West Bank. 

• UN sanctions prohibiting Iran from trading missiles and drones expire.

• Hundreds dead in an explosion at Al Ahli Arab Hospital in North Gaza, Israel, Palestine blame each other for hospital explosion. Jordan, Egypt, Palestine-US summit cancelled post Gaza hospital explosion. 

• Hong Kong court affirms equal housing rights for same-sex couples.

• Amazon river hits century-low water levels. 

1. "Super El Nino in 2024"

According to latest projections from the National Oceanic and Atmospheric Administrations (NOAA) climate prediction center, the northern hemisphere may experience a 'strong' El Nino from March'24 to May'24, with a 33% chance of it being 'historically strong'.

El Nino is a climate pattern that develops along the equatorial Pacific Ocean after intervals of a few years ranging between 2 and 7 years. Depending on its strength, El Nino can cause a range of impacts such as increasing the risk of heavy rainfall and droughts in certain locations around the world. 

The likelihood of a robust El Nino next year stands at 75% - 80%, indicating that equatorial sea surface temperatures could be at least 1.5°c. higher than average (El Nino is declared when sea surface temperature is expected to be higher than 0.5°c). There is also a 33% chance that temperatures may surpass 2°c, resembling the historically strong El Nino events of 1997-98 and 2015-16, which caused extreme temperatures, droughts and floods worldwide.

2. "Highlights of events today"

• India brings back 18 Nepal Nationals under its operation Ajay to bring Indians from Israel.

• US Secretary of State Blinken meets Netanyahu in Tel Aviv.

• Indian Supreme Court refuses to legalize same-sex marriage, ruling that it is a matter for Parliament.

• Glasgow museum revealed that its $ 3.7 mn sculpture by Auguste Rodin goes missing.

• US puts 2000 troops on prepare-to-deploy orders amidst the Israel Hamas War.  

1. "Approval of royalty rates for 3 strategic minerals"

The centre has amended a key law so that it can specify competitive royalty rates for the mining of 3 strategically significant minerals - Lithium, niobium and rare earth minerals (RRE).

Lithium is a vital ingredient of rechargeable lithium-ion batteries that power electric vehicles, laptops and mobile phones. In February, 'inferred' lithium resources of 5.9 million tones were established in Jammu & Kashmir, the largest deposit of India.

Niobium is used in alloys, including stainless steel, to improve their strength, particularly at low temperatures. 

REEs are used in electrical and electronic components, lasers and magnetic materials.

The existing rate of royalty was 12%, a much higher than global benchmarks. After cabinets decision, lithium and niobium mining will attract a royalty of 3%. REEs will have a royalty of 1% based on the ASP of the Rare Earth Oxide (the ore in which the REE are most commonly found).

The idea is to encourage domestic mining, so the imports of these minerals can be lowered. India currently imports all the lithium needs. Most of rare earths worldwide production is either sourced from or processed in China, and it can be difficult to secure supplies.  

2. "Highlights of events today"

• EAM Jaishankar in Vietnam for joint commission meeting.

• Israel PM Netanyahu said that Israel will allow aid to Gaza.

• Russia suspends all Japanese seafood imports, like China did.

• The fourth batch of stranded Indian nationals in Israel arrived in Delhi today.

1. "Highlights of events today"

• Indians on board the 2nd Air India flight reached Delhi from Tel Aviv.

• In a step towards more connectivity, India, Sr Lanka start Ferry service between Nagapattinam and Kankesanturai.

• Sri Lankan President proposes a four-state solution involving Israel, Palestine, Gaza, and Lebanon.

• India plans to host the Olympic games in 2036, PM Modi lays out India's aspiration.  

2. "Google starts manufacturing Laptops in India"

Google has started producing its Chromebook in India through a partnership forged with HP, in a major boost to the country's electronics manufacturing ambitions. The production of Chromebook laptops that run on Google's Chrome operating system has started from 02.10.2023 at the Flex facility near Chennai, where HP has been producing a range of laptops and desktops since August'2020. Chromebook will cater to the demand for affordable PCs in India, mainly from the educational sector.

India recently closed the window to apply for its INR 17,000 crore PLI scheme for IT hardware such as laptops, personal computers and servers, and has initiated the process to check imports from China after a failed bid to license such gadgets. As the window for the Centre's PLI scheme closed in August, over 40 companies - including Dell, HP, Asus, Acer and Lenovo - applied to participate in the programme to manufacture laptops, computers and servers in India. 

The government is expected to clear applications of around 30 companies soon, a majority of whom will start production from next April. 

India has seen an increase in imports of electronic goods and laptops / computers in the last few years. During April - June this year, the import of electronic goods increased to $ 6.96 billion from $ 4.73 billion in the year ago period, with a share of 

4-7 % in overall imports. 

The highest share of imports is in the category of personal computers, including laptops and palmtops, under which imports from China stood at $ 558.36 million in April - May this year. China accounts for roughly 70 - 80 % of the share of India's imports of personal computers, laptops. 

1. "Highlights of events today"

• First set of Indians from Israel reached Delhi in the morning today. 2nd such Air India flight sent to Israel to bring back more Indians under operation Ajay. 

• Congressman Raja Krishnamoorthi Announces Plans To Reintroduce Bipartisan Resolution Recognizing Diwali’s Religious And Historical Significance.

• Security for Israel missions, Diplomats increased in India. As an Israeli diplomat was stabbed in Beijing, Israel foreign minister - while confirming the incident has said that the diplomat is in stable condition.

• President of the Mexican Senate Ana Lilia Rivera tied Rakhi to PM Modi earlier today at the P20 Summit in Delhi.

• Speaker of the Federation Council of the Federal Assembly of the Russian Federation Valentina Matvienko met with PM Modi on the sidelines of the 9th G20 Parliamentary Speakers’ Summit (P20) in New Delhi. 

• UK Minister for the Indo Pacific Anne-Marie Trevelyan in Chennai, Tamil Nadu.  

• EAM Jaishankar, Saudi Foreign minister hold telephonic talks; Discuss the ongoing situation in west asia.

1. "Operation Ajay to bring back citizens from Israel"

India is putting in a major operation to evacuate citizens who wish to return from conflict-hit Israel. This will be the 2nd evacuation this year, after operation Kaveri that brought back several thousand Indian citizens from conflict-torn Sudan in April - May. More than a year ago, India evacuated Indian students from Ukraine amid its conflict with Russia. It was called Operation Ganga. The rescue operation undertaken by India when Afghanistan was under attack from the Taliban was called Operation Devi Shakti. 

Operation Ajay comes as around 18,000 Indians are currently in Israel, many of whom are in the conflict zones. The Indian Embassy in Tel Aviv was getting continued requests from Indians including tourists, who wanted an exit from the country.  

This year, India sent rescue and relief to an earthquake hit turkey and Syria and that was named as Operation Dost.

2. "Highlights of events today"

• US Secretary of State Blinken arrives in Tel Aviv.

• First flight carrying 230 Indians travel back from Israel to the homeland.

• 1,300 Israelis killed so far in ongoing terror attack.

• Ukraine receives $1.15 billion US grant from World Bank's PEACE initiative.

• Putin in Kyrgyzstan for his first international trip since ICC arrest warrant.

• Indonesia launches China-backed 'Whoosh', Southeast Asia’s first high-speed railway.    

1. "Highlights of events today"

• EAM Jaishankar speaks to UAE FM over the crisis in West Asia.

• 20th round of India-China Corps Commander Level Meeting.

• Indian Ocean Rim Association foreign ministers in Colombo.

• Defence Minister Rajnath Singh in Paris. 

• EAM Jaishankar met Sri Lanka President in Colombo.

• India Launches Operation Ajay to facilitate the return from Israel of Indian citizens who wish to return; Special charter flights and other arrangements being put in place.

1. "Highlights of events today"

• Indian Air Force marks 91st anniversary. 

• After 7-year tiff Sudan & Iran agreed to restore ties.

• PM Netanyahu announced of forming a unity government.

• EAM Jaishankar in Colombo to attend the IORA Ministerial meeting.

• Russia's 'Nauka' on the International Space Station goes wrong once again.

• Israel PM Netanyahu called Indian PM Modi; India extended its support to Israel.

• IMF downgrades growth forecasts for China and Euro area, cites uneven global recovery.

• 900 people have been confirmed dead in Israel and over 700 deaths have been reported from Gaza.

• Indian Defence minister Rajnath Singh met top Italian Defence leaders in Rome, including from Leonardo, Fincanteri.

1. "Highlights of events today"

• India hosted the Tanzania President Suluhu Samia.

•  Malta FM Ian Borg on India visit. Discussed Ukraine, India’s engagement in the Mediterranean.

• India's Congress party comes in support of Palestine after a key meeting.

• In the latest numbers, over 900 in Israel and more than 500 dead in Gaza.   

• Nobel Prize in economics sciences 2023 awarded to gender gap economist Claudia Goldin. 

2. "18,000 Indians Stuck in Israel - Hamas War"

As gun battles are raging in towns and on highways, nearly 18,000 citizens are stuck in Israel. The majority of them are caregivers, IT Professionals and Students. There are many agencies in Israel which hire caregivers from India for the elderly population in Israel. These caregivers are known to be in various towns of Israel that are near the Gaza border.

According to the latest information from the EAM, approximately 900 Indian Students are studying in Israel, mainly at doctoral and post-doctoral levels. That apart, there are around 85,000 Israeli citizens of Indian origin who are Israeli passpoort holders, out of which many maintain intense personal and professional contacts with India.

1. "Highlights of events today"

• The world's largest modern Hindu temple outside India, the New Jersey Akshardham, opened today.

• Advisor to Ukraine President Andriy Yermak, NSA Ajit Doval hold talks; Ukraine readout says, on going situation, Global Peace Summit, intensifying contacts at the level of defense ministers of the two countries discussed.

• Tanzania President Suluhu Samia reaches Delhi.

• An MOU in the Fields of Electrical Interconnection, Green/ Clean Hydrogen and Supply Chains was signed today in Riyadh by Hon'ble Union Minister for Power and New & Renewable Energy and Saudi Minister of Energy HRH Prince Abdulaziz bin Salman. 

• 2053 people are killed in 13 villages in the earthquake in Herat Province of Afghanistan. 1240 injured and 1320 houses destroyed completely. 

• Israel cuts the supply of electricity, fuel and goods to Gaza in the aftermath of brutal terror attack by Hamas. Over 600 Israelis killed in Hamas attack, more than 2,000 people injured, mostly civilians.

1. "India's historic 100 medal tally at Asian Games 2023"

07.10.2023 will forever remain a red letter day in the history of Indian sports as it gave the country its sweetest century. 

India, today won its 100th medal at the Games for the first time ever. India have so far won 25 gold medals, 35 silver medals and 40 bronze medals.  This is India's best ever medal haul at the Asian Games beating their previous best at the last edition in Jakarta by a huge margin. India had won 70 medals in 2018.

This is also only the 2nd time that India have won more than 100 medals in any of the 3 major games - The Olympics, Commonwealth Games and Asian Games. They has won 101 medals in the 2010 Commonwealth Games in New Delhi.  

2. "Israel declares 'State of War' after 5,000 rockets fired from Gaza"

Palestinian militants in the Gaza Strip carried out an unprecedented infiltration on 07.10.2023 into southern Israel, sending fighters across the border and firing thousands of rockets into the country as the ruling Hamas militant group announced the beginning of a new operation. 

The incident prompted Israel to declare a 'state of war' following numerous infiltration and rocket attacks from the Gaza Strip. The Israeli military began striking targets in Gaza in response.

3. "Highlights of events today"

• Brazil, the chair of UNSC this month, calls for an emergency meeting of the top UN body on Israel, Hamas war. 

• Amazon launches two broadband satellites into orbit. 

• Narges, who is serving a 10-year sentence in Tehran, was honored with Nobel Price “for her fight against the oppression of women in Iran.

• Israel is under major attack as dozens of rockets are fired from Gaza strip by Hamas.100 Israeli killed, 900 injured in the terror attack by Hamas, says Israel foreign ministry. 

• Russia successfully tested nuclear-powered missile.

• India issues advisory for its nationals in Israel amid the terror attack on the country. According to Indian Govt estimates, there are about 18,000 Indian citizens in Israel, primarily caregivers, employed by Israeli elders to take care of them, diamond traders, IT professionals and students. In past, an Indian died in 2021 Hamas Rocket attack in Israel.  

1. "Highlights of events today"

• 4th India-Italy Joint Working Group on Counter Terrorism and Organized Crime meets.

• 112th National Day of Taiwan celebrated in Delhi with full enthusiasm & festivities.

• Tanzania foreign minister in India, meets EAM Jaishankar ahead of President's India visit from 8-10th. 

• The Consulate General of Afghanistan in Mumbai and Hyderabad, India has issued a declaration stating that the Afghan mission in Delhi and other missions in India remain open; Points to Indian Govt's continuous support. The Statement also "unequivocally disavow and seek to clarify the assertions" made by Ambassador Farid Mamundzai that the embassy is closed. Explains, that these decisions appear to be "motivated by personal and internal matters within the embassy"    

1. "Highlights of events today"

• Taliban's Foreign Minister Mawlawi Amir Khan Muttaqi, Chinese FM Wang Yi meet in Tibet. 

• India, EU hold Cyber Dialogue.

• India, UAE further link payment systems; Sign pact on usage of RuPay card. NPCI International Payments Limited (NIPL) & Al Etihad Payments (AEP) sign pact for implementing RuPay pact in UAE. 11th Meeting of the India-UAE High Level Joint Task Force on Investments also took place; Reviewed Comprehensive Economic Partnership Agreement (CEPA).

• Bangladesh PM Hasina, Russian President Putin attend fuel handover ceremony (virtual) of Rooppur Nuclear Power Plant; With this Bangladesh will bcm nuclear power-producing country.   

• India, US exercises Yudh Abhyas. This is the 19th edition of Indo US exercises Yudh Abhyas. The previous edition of the Exercise was conducted in Auli, Uttarakhand, India in November 2022. 

• India declares two syrups from Norris Medicines as 'toxic' after reports of poisoning deaths. 

1. "Highlights of events today"

• Indian High Commissioner to Maldives Munu Mahawar meets Maldives Prez Elect Muizzu.

• Malaysia appoints Muzafar Shah Mustafa as the new High commissioner to Delhi.

• India's golden boy Neeraj Chopra strikes again, winning gold in the javelin throw at the Asian Games. Kishore Jena wins Silver medal in javelin throw at Asian Games.

• The International Committee of the Red Cross (ICRC), for the first time, issued rules of engagement for civilian hackers as number of people joining cyber-gangs increase at an alarming rate.  

• Kevin McCarthy ousted as US House Speaker by Republicans.

• India's Aditya-L1 completes one month in space since launch, covering two-thirds of its journey.   

• After two days of disruption, rare women's cricket match held in Pakistan's Swat.

1. "Highlights of events today"

• Dominican Republic VP Raquel Peña Rodríguez in Delhi today. Vice President Raquel called on President Droupadi Murmu at Rashtrapati Bhavan. VP Raquel also met EAM Jaishankar meet in Delhi.

• India, Timor Leste firm up ties with the visit of MoS MEA Ranjan. First ministerial-level visit from India to Timor-Leste since 2018.

• The diplomatic standoff between India and Canada has intensified. India issued an ultimatum, demanding the withdrawal of approximately 40 Canadian diplomats by 10.10.2023.

• For the indigenous Astra Beyond Visual Range (BVR) Air to Air Missile, the Indian Air Force (IAF) placed two contracts with Bharat Dynamics Limited (BDL).

• Indonesian President Joko Widodo inaugurated a $7.3 billion high-speed railway project funded by China as part of its Belt and Road Initiative.  

1. "Highlights of events today"

• Indian Army Chief Manoj Pande on a visit to Tanzania.

• Indian Whisky 'Indri' awarded best in the world, defeating several international brands.

• UK Defence giant BAE Systems wins submarines contract awarded $4 billion.

• Former Maldives President Abdulla Yameen put in house arrest.

• IMF holds meetings in Ukraine to discuss economic challenges. 

• The United States Supreme Court begins its new term on 02.10.2023, with many hot-button cases on the docket — Gun rights, free speech, Donald Trump's presidential dreams, and more 

• European Union (EU) launched the first phase of its Carbon Border Adjustment Mechanism (CBAM), aimed at imposing CO2 emissions tariffs on various imported goods, including steel, cement, and more 

1. Women's Reservation Bill"

The Union Cabinet led by PM Modi has approved the constitutional amendment bill to provide reservation for women in Parliament and state assemblies. The cabinet met on 18.09.2023 evening at 18:30 hours, the marathon meeting lasted nearly 1.5 hours but there was no official announcement of the decision taken.

In the past since 1996, several attempts were made to make a law for legislative reservation for women, but all attempts had failed. In 2010, the UPA government could pass the bill in the upper house but couldn't bring it to lok sabha under pressure from allies.

The bill seeks to reserve 33% of seats in the Lok Sabha and state legislative assemblies for women.  These reserved seats may be allocated by rotation to different constituencies in the state or union territory. The reservation of seats for women shall cease to exist 15 years after the commencement of the amendment act.

2. "Highlights of events today"

• Canadian PM Justin Trudeau accuses Indian govt of killing Khalistani leader Hardeep Singh Nijjar in the Canadian Parliament. 

• India Expels Senior Canadian diplomat - olivier sylvestre  over "interference of Canadian diplomats in internal matters and their involvement in anti-India activities", says MEA; asked to leave India within the next five days. .

• India also summoned Canadian High Commissioner Cameron MacKay, Past cases of Canadian High Commissioner summoning: July 2023 March 2023 Dec 2020. Canadian Envoy now has been summoned more times than Pakistan diplomats in Delhi this year. 

• Atul Malhari Gotsurve appointed as India's Envoy to Mongolia.

1. "Highlights of events today"

• Last day for the Old Parliament building. 

• Hoysala empire temples in Karnataka become 42nd UNESCO listed site in India. Development comes a day after Shantiniketan in West Bengal was listed as a heritage site. India now has 42 properties listed on World Heritage List. 34: Culture, 7: Natural and 1: Mixed. 

• India, Malaysia upping defence ties. 10th meeting of India-Malaysia Joint Sub-Committee on Defence Science, Technology & Industry Cooperation meet in Delhi.

• India, Singapore hold foreign office consultations.

• New French ambassador Thierry Mathou arrives in Delhi. In an arrival message says,'France and India are two major stakeholders in the Indo-Pacific region'   

1. "Highlights of events today"

• Delhi's historic Qutub Minar lit up with the colors of Mexico's flag to celebrate Mexican Independence Day. Mexican Envoy led the 213th Independence celebration at the residence of Mexico.  

• Canada Trade Minister Mary Ng postpones her India visit. Was expected to lead a trade mission to India in the first week of October.

• The Latvian parliament voted to confirm Evika Silina as the Baltic state's next prime minister, following the surprise resignation of her predecessor. 

• Roscosmos cosmonauts Oleg Kononenko and Nikolai Chub and NASA astronaut Loral O'Hara successfully arrived at the ISS aboard the Soyuz MS-24 spacecraft.

• UK designates Wagner Group as terrorist organization, supporting it now a criminal offence. 

2. "WHO Alert: Fake Liver and Cancer Medicines Sold in India"

The country's apex drug regulator, Central Drugs Standard Control Organization ( CDSCO), has asked state regulators, doctors and patients to remain vigilant about 2 medicines - liver drug Defitalio and cancer drug Adcetris, after the WHO raised alert against falsified versions of them circulating in 4 countries, including India. 

 Defitalio is used for treatment of a serious condition where vessels in the liver are blocked, and Adcetris is used for the treatment of a type of blood cancer.

On the basis of information provided by WHO, the drug regulator said that the genuine drugs are packaged in Germany and Austria, whereas the falsified versions claim they were packaged in the UK and Ireland. The stated expiry date is false and does not comply with the registered shelf life.

The Union health ministry has proposed sweeping changes to its drug licensing programme, aiming a uniformity across India to boost drug safety, after cough syrups made in country are allegedly linked to around 70 deaths of children overseas. 

The number of drug samples tested in 2020-21 were 84,874. Out of which, 2,652 samples were declared of 'not standard quality' and 263 samples were declared as Spurious.

1. "Highlights of events today"

• Indian Navy Ship Sumedha participates in Joint Egypt US Exercise 'BRIGHT STAR' in the Mediterranean Sea. The multinational tri-service exercise also witnessed participation from the Navies of Italy, Greece Cyprus and Qatar.

• India's Defence Acquisition Council (DAC) gives Acceptance of Necessity (AoN) for many proposals including procurement of 12 Su-30 MKI Aircraft.

• Torkham Border crossing re-opens after deadly 'Afghan-Pakistan' clashes.

• The European Central Bank (ECB) raised its key interest rate to a record high of 4%. However, the ECB signaled that this rate hike, which marked the 10th increase in a 14-month battle against inflation, is likely to be its last. 

2. "Emergency alert received on mobile phones across India"

Several people on  15.09.2023 received an 'Emergency Alert - Severe' notification on their mobile phones. This was the 5th  instance since August here users have received an 'emergency alert: severe message'. Similar messages were also received by users on 29.08.2023, 23.08.2023, 21.08.2023 and 17.08.2023. 

On 20.07.2023, the Department of Telecommunications announced that it will collaborate with National Disaster Management Authority to conduct a Cell Broadcast Alert System testing to enhance emergency communication during disasters and ensure the safety and well being of citizens. It is currently undergoing testing on the Jio and BSNL networks. These tests are intended to evaluate the efficiency and effectiveness of mobile operators emergency warning broadcast capabilities and cell broadcast systems. 

Cell Broadcast Alert System is used by government agencies and emergency services to inform the public about potential threats and keep them informed during critical situations (e.g Tsunami, Flash Floods, Earthquake, etc.)

1. "Pay by Car - Fuel and Fastag"

Amazon and Mastercard backed ToneTag have launched a new service, integrating the UPI with car's infotainment system.

MG Hector in partnership with Bharat Petroleum, recently showcased the tech, that will let people make payments directly from their car, eliminating the need for a smartphone or other handheld devices.

ToneTag claims to be world's largest audio-based solutions provider. The company offers both software and hardware to enable various services. ToneTag was also the 1st company to enable contactless payment acceptance on point-of-sale machines using sound. 

The new 'pay by car' is a feature where users simply have to link their UPI ID with their car's infotainment screen. When a person drive up to a fuel station, car's infotainment system displays the fuel dispenser number. Also, a soundbox within the car announces arrival, alerting the attentive staff at the fuel station. Person can then proceed to enter the desired amount for the fuel, which is conveniently announced through the same soundbox.

The application of this technology also offers the ability to recharge car's Fastag, with the current balance displayed on the infotainment screen, providing a comprehensive solution for vehicle related payments. 

2. "Highlights of events today"

• 2023 United Nations Commission on International Trade Law (UNCITRAL) South Asia Conference held in Delhi.

• India to help Armenia, Antigua, Barbuda & Sierra Leone in the space of digital capacity building. Cabinet approves key MoU. 

• India, Japan hold cyber dialogue.

• China formalises diplomatic ties with Taliban, appoints envoy to Kabul.

• Pakistan President Arif Alvi proposes November 6 as election date to chief election commissioner.

• US approves $5 billion sale of F-35 jets to South Korea.  

1. "More than 5,000 dead in Libya Flood"

Heavy flooding caused by Strom Daniel has had a devastating effect on eastern Libya, leaving a trial of destruction that will be difficult to repair in the midst of country's political instability.

An estimated 5,000 people have died, while some 10,000 are still missing, prompting concerns the death toll may rise sharply. 

The administration in the west of the country, led by PM Abdul Hamid Dbeibah, is based in Tripoli and recognized internationally. In the disaster stricken east, there is another administrator led by the Benghazi based House of Representative. The conflict between the two has left the oil rich country with a weakened infrastructure.   

2. "Highlights of events today"

• European Union is allocating € 100,000 (nearly INR 9 million) to provide emergency humanitarian assistance to families affected by the floods that recently struck large parts of northern India.

• Santosh Jha appointed as the next Indian High Commissioner to Sri Lanka. He is presently Indian ambassador to Belgium.  

• The U.S. Department of Defense (DoD) and the Indian Ministry of Defence (MoD) held the first virtual meeting of the India-U.S. Defense Acceleration Ecosystem (INDUS-X) Senior Advisory Group.

• Chief of Naval Staff of Bangladesh Admiral M Nazmul Hassan met Indian Defence Secretary Giridhar Aramane in New Delhi. 

• Gopal Baglay, India's current High Commissioner to Sri Lanka, appointed as India's next High Commissioner to Australia. 

• India, Mongolia discuss Indian assisted projects in the country during MEA's Secy East Saurabh Kumar & Mongolia's state secretary for foreign affairs Ankhbayar Nyamdorj meet. These projects include Oil Refinery, Mongolia-India Friendship School. Both sides reconfirmed their commitment to advance the construction of the Oil Refinery and continue working closely to meet the deadlines of completing the project. 

1. "Kim Jong Un goes to Russia in a Bulletproof Train"

North Korea's leader Kim Jong Un arrived in Russia to meet President Vladimir Putin on 12.09.2023. Kim reached Vladivostok in Russia from Pyongyang, North Korea's capital, in his favoured mode of transport: a swanky, bulletproof but agonizingly slow train. His previous trip to Vladivostok took 20 hours. His journey to Vietnam in 2019 to meet Donald Trump took more than 60 hours.

The 2 leaders are expected to discuss the possibility of North Korea providing Moscow with weapons to support its invasion of Ukraine. On 05.09.2023, White House (US) national security adviser warned North Korea will pay a price if it strikes an arms deal with Russia and on 11.09.2023, the White House urged North Korea to not provide or sell arms to Russia.   

2. "Highlights of events today"

• PM Modi conducts post-G20 summit review with PMO staff, followed by surprise visit to Sushma Swaraj Bhavan (which is the G20 secretariat) for candid discussions with MEA officers and staff.

• Indian Diplomat, Second Secretary at the Indian Embassy in Armenia Tejas Pagar scales Mount Elbrus, the highest mountain in Europe, located in the Caucasus Mountains in Russia.

• Most Favoured Nation (MFN) duty of 50% and 100% continues to be applicable on US apples and walnuts as only additional 20% duty is removed. MFN rate Rs 100/kg continues to be applicable on US almonds.

• Madan Lal Raigar appointed as the next Indian Ambassador to Congo.

• Canada PM Trudeau leaves Delhi after being stranded for over one day as his plane developed technical issues.

1. "Railway Deal to Connect Middle East"

President Biden and the leaders of India, Saudi Arabia and the UAE hope to announce a major joint infrastructure deal on 09.09.2023, that will connect Gulf and Arab countries via a network of railways. The project is to connect Arab countries in the Levant and the Gulf via a network of railways that will also connect to India through seaports in the Gulf. If Saudi and Israel normalize relations in the future, Israel could also be part of the railway project and broaden its reach to Europe via Israeli seaports. 

The project is one of the key initiatives the US is pushing in the Middle East as China's influence in the region grows. The Middle East is a key part of China's Belt and Road Vision. 

2. "Highlights of events today"

• Spanish President Pedro Sánchez tests COVID positive, will have to skip Delhi G20 summit. Spain will be represented by a minister.

• PM Modi holds bilateral meetings with PM of Mauritius & Bangladesh, and President of US.

• French court upholds ban on Muslim abayas in schools, says 'no serious harm'. 

• US tech giant  Apple's shares dropped sharply for the second consecutive day, leading to its market value falling by nearly $200 billion. 

• North Korea launched its first "tactical nuclear attack submarine" which has been successfully built as part of its plan to strengthen its naval force, reported the state news agency KCNA. 

"Highlights of events today"

• Indian PM Narendra Modi in Indonesia for ASEAN and East Asia Summits.

• East Asia Summit Leaders issue a 7 page joint statement on "Maintaining and Promoting the Region as an Epi-centrum of Growth. 

• Indian snack brand Haldiram’s joined Tata Consumer Products to deny a report by the Reuters news agency that it is considering selling its 51 per cent stake to the Indian conglomerate.

• Japan launched 'moon sniper' lunar lander SLIM to space.

• Nigeria said it received investment pledges worth $ 14 billion from Indian investors and is seeking to sign an economic cooperation agreement with the South Asian country. 

• India's tech services exporter, Tata Consultancy Services, or TCS, and the British automotive giant Jaguar Land Rover, both part of the Tata Group, have announced a significant expansion of their partnership.

• Nigerian court rules in favour of President Bola Tinubu's election victory. 

• Russia released a statement saying that it will very soon finalise the route of the China-bound Power of Siberia-2 gas pipeline, which is intended to traverse through Mongolia. 

• In a landmark judgement, the Supreme Court in Mexico decriminalised abortion across the country. 

"Highlights of events today"

• White House informed that Prez Biden has tested negative (2nd time), not experiencing any symptoms. Will be wearing a mask (linked to his Delhi travel) 

• Indian Defence Minister Rajnath Singh called on the President of Nigeria Bola Tinubu at 4.45 PM IST in Delhi. He is the first Head of State to arrive in India for G-20 Summit. 

• Nigerian President meets Indian business leaders in Delhi.

• EAM Jaishankar reaches Jakarta for ASEAN summit Meet, meets Indonesia foreign minister and Russian Foreign minister Lavrov. PM Modi reaches Indonesia tomorrow to attend East Asia Summit & India Asean summit. 

• China and Pakistan hold joint air exercise Shaheen_X. Pak's fighter jets participate in drills. Both nations conduct annual air exercises in Northwestern China.

• China ordered government officials to not use Apple iPhones and other foreign-brand devices for work or bring them into the office.

• Israel Parliament resumes after summer break PM Netanyahu calls for dialogue on judicial reforms.  

1. "India may be renamed as Bharat"

The proposal to rename India as Bharat may be brought up by BJP during special session of the Parliament, scheduled from 18.09.2023 to 22.09.2023. The Constitution of India currently refers the country as 'India, that is Bharat', but there is a growing call to amend this to simply 'Bharat'.

The demand to rename as Bharat has intensified over the past years. On 15.08.2022, PM Modi appealed citizens to take 5 pledge, 1 of which was freedom from every trace of slavery. This was seen as symbolic gesture towards embracing the country's indigenous identity. In a significant move, the word 'India' was replaced with 'Bharat' on special plane used for foreign trips by the President, Vice President and Prime Minister. In the monsoon session, BJP Rajya Sabha MP Naresh Bansal demanded the removal of 'India' from the constitution, arguing that it symbolizes slavery. 

In 2014, UP CM Yogi, who was a MP, moved a bill to replace 'India' with 'Hindustan'. The bill stated, "The word 'India' denotes the symbol of slavery". There also have been legal petitions. In June'2020, the SC heard a plea from person named 'Namah' who pleaded that 'India' be dropped from the constitution and the country be referred as 'Bharat'.      

2. "Highlights of events today"

• US first lady tests COVID positive, Prez Biden COVID negative. Development ahead of the G20 summit in Delhi this week. 

• G20 dinner invite for 09.09.2023 mentions invite from 'President of Bharat'.  Earlier invitations had the heading as 'President of Republic of India'.

• Dr. Amit S. Telang appointed as India's next High Commissioner to Guyana.

• EAM Jaishankar hold meetings with Nigeria Foreign Minister Yusuf Tuggar and Saudi Arabia's ambassador Saleh Eid Alhusseini in Delhi.

• First world leader, Nigeria's President Bola Ahmed Tinubu reaches India to attend the G20 summit. With Africa in focus, Nigeria is a special invitee by India for the summit.   

1. "Highlights of events today"

• German Chancellor Olaf Scholz sustained bruises during a jogging incident. But he will attend the G20 summit in Delhi. 

• Chinese Foreign ministry announced that Chinese Premier Li Qiang will attend G20 summit in Delhi. Chinese President Xi Jinping to skip the G20 Summit.

• Ukrainian President Volodymyr Zelensky nominated politician Rustem Umerov to replace Oleksiy Reznikov as Kyiv's defence minister.

2. "India's Moon lander Vikram hopped and soft landed again"     

The ISRO commanded the Vikram Lander to fire its engine again, raising itself by around 40 cm, made it land safely at a distance of 30-40 cm away.  ISRO added that all systems of the lander performed nominally and were healthy. By successfully conducting the hop experiment by ascending a few centimeters, Vikram Lander has successfully achieved all its objectives.  

Chandrayaan 3 has already accomplished its primary objectives. However, anticipate that both Bikram lander and Pragyan rover could potentially recharge, provided they can endure the frigid temperature that can drop as low as 200 degrees Celsius on the lunar surface.

1. "Highlights of events today"

• Bhutan, China hold meet on boundary issues; decide to establish Joint Technical Team for Delimitation of Bhutan-China Boundary.  

• Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, UAE to become full members of BRICS from 1st January 2024, announces South African President at the BRICS Summit. No plans to change the name of the BRICS grouping. BRICS remains BRICS.

• PM Modi, Iran President Ebrahim Raisi hold bilateral meet on the sidelines of the BRICS summit in South Africa. 

• Delhi declares holiday from 8-10 Sept as the city hosts the G20 Summit.

• India, UK to hold 12th round of FTA talks negotiations.  

2. "Wagner chief die in plane crash"

Yevgeny Prigozhin, the leader of the PMC Wagner, which led an unsuccessful coup against Russian president Vladimir Putin has been reportedly killed in a plane crash. The Russian Civil Aviation Authority have said that Yevgeny Prigozhin was on the list of passengers on the plane. 

The Wagner Group is a Russian paramilitary organization that operates beyond the law in Russia. It is basically a private military company and a network of mercenaries. The group was 1st identified in 2014 while backing pro-Russian separatist forces in eastern Ukraine.

In June, Prigozhin led a short-lived rebellion against Russia's conventional army with thousands of mercenaries taking up weapons and marching from southern Russia towards Moscow with the aim of toppling the country's military leaders. The mutiny ended with a deal, medicated by Belarusian president. 

The plan crashed on a flight from Moscow to St Petersburg. All 10 people on the plane, including 3 crew members, died in the crash. A Wagner linked telegram channel reported that the jet was shot down by air defences in Tver region,  north of Moscow.

1. "Highlights of events today"

• India's Deputy National Security Advisor, Vikram Misri, met with South Korea's Foreign Minister, Park Jin, emphasizing closer relations and potential collaboration in Critical and Emerging Technologies.

• Indian Trade Minister Goyal addresses the BRICS business forum virtually.

• Indian PM Modi in Johannesburg, South Africa, for the BRICS summit.    

• 5th edition of the biennial AUSINDEX Maritime Exercise between Indian Navy & Royal Australian Navy begins off the coast of Sydney. INS Sahyadri & INS Kolkata joined by RAN units HMAS Choules HMAS Brisbane, F35A fighters & P8A Maritime patrol aircraft.  

2. "Chandrayaan - 3 update"

A senior ISRO scientist on 21.08.2023 said that the Chandrayaan-3's landing on Moon may get postponed to 27.08.2023, if the space agency finds, 2 hours before the planned touchdown, the position of the Lander is not suitable for the descent. 

The mission is set to land on the lunar surface on 23.08.2023 at 6:04 PM IST. The spacecraft will attempt to land from a 30 km height (currently it is in 25 km * 134 km orbit) at a velocity of 1.68 km per second, which is very high. The scientist said that, 'we will have to retro-fire the thruster engine to slow down the speed to zero by the time it reaches the lunar surface'. 

At 30km height, the speed of the spacecraft will be 1.68 km per second but its speed will be reduced to 350 meter's per second by the time it reaches 6.8 km. From 6.8 km, the Lander will come down to 800 meters and its speed will be almost zero meter per second.  

The space agency will check the position of the Lander and the Moon and after that, it will take a decision on landing. If they feel that the position of the Lander is not suitable for landing, then they will extend it to 27.08.2023. 

We urge you to watch the live landing (begins at 5:20 PM IST) of our mission at 6:04 PM IST. It is indeed a movement for our nation. We pray for the smooth landing of our dearest Lander.   

1. "Highlights of events today"

• 20th ASEAN-India Economic Ministers’ Meeting in Semarang, Indonesia. India and ASEAN agree to review the 2009 ASEAN-India Trade in Goods Agreement (AITIGA) by 2025. The development comes as the 2009 pact was being called as unfair. 

• Malabar exercises, involving forces of US, India, Australia & Japan conclude off the coast of Sydney, Today.

• Brazil President Luiz Inacio Lula da Silva reaches Johannesburg for the Brics summit. He is the first Brics leader to reach the country. Chinese President Xi Jinping reached the country today as well.

• Pradeep Singh Rajpurohit appointed as the next Indian High Commissioner to Trinidad & Tobago.

2. "Reason behind Russia's Luna-25 crash"

The Luna-25 probe, Russia's 1st Moon mission in 5 decades, crashed on the Moon on 20.08.2023 after an incident during pre-landing manoeuvers. Luna-25 was launched on 10.08.2023, almost a month after Chandrayaan-3's launch on 14.07.2023, Luna-25 rode a powerful rocket to reach the lunar orbit in just 6 days.  

The prelimenary findings said that the lander 'ceased to exist following a collision with the Moon's surface'. The space agency said an investigation would be launched into the causes of the crash. 

An initial analysis of the moon lander indicates that a difference between the planned and actual propulsion manoeuvre caused the spacecraft to move into an unintended orbit. This ultimately led to the spacecraft colliding with the moon's surface and being lost.

Russia's Luna-24, launched in 1976, was the last spacecraft to land on the moon's surface, before lunar missions were completely stopped for nearly 2 decades. A Luna-26 is scheduled for launch within the next 3 years.

1. "Highlights of events today"

• Russia's first moon mission in nearly five decades took a disastrous turn when its Luna-25 spacecraft lost control and crashed into the moon due to a pre-landing orbit issue.

• The Federal Investigation Agency (FIA) arrests former PTI secretary-general Asad Umar in US Cipher case.

• Union Railways Minister Ashwini Vaishnaw launched India’s first 3D-construction post office in Bengaluru's Cambridge Layout near Ulsoor Bazaar. 

• After a 37-day journey, the Chandrayaan3 lander craft 'Vikram' is now barely 25 kilometres above the Lunar surface. Chandrayaan-3 is set to land on the moon on 23.08.2023 at around 18:04 Hrs. IST.

• Government has raised the quantum of onion buffer to five lakh metric tonne this year, after achieving the initial procurement target of three lakh metric tonne.    

2. "India to use Piraeus Port for European Exports"

India is reportedly exploring the possibility of using Greece's Port of Piraeus. Indian PM Modi is scheduled to visit Greece by the end of this month, with talks on utilization of the said port at the top of the agenda. Also this will be the 1st visit to Athens by an Indian premier in 40 years. 

The said port is the Chief sea port of Athens, located in Piraeus, and on western coasts of Aegean Sea, the largest port on Greece and one of the largest in Europe. The Chinese state owned COSCO Shipping owns the port. 

Previously India has been planning to use Iran's Chabahar Port as a gateway for its Europe. However, the ongoing conflict between Armenia and Azerbaijan, where trade route was to pass, continues to be an impediment to the corridor's development.   

1. "After pink eye, rise in joints pain & arthritis"

After a severe bout of conjunctivitis and viral fever, the national capital is witnessing a 50% increase in people suffering from arthritis and joint pain over the last 2 week.

Arthritis is defined as inflammation of 1 or more joints, causing pain and stiffness that can worsen with age. In arthritis, the body's immune system attacks healthy cells in the body causing inflammation resulting in painful swelling in parts of the body. The most common signs and symptoms of arthritis involve joints. Depending on the type of arthritis, signs and symptoms may include; pain, stiffness, swelling, redness or decreased range of motion.

The doctors said that the condition is prevalent not only among the elderly above the age of 60 years, but also younger people around the age of 30 years are coming with joint related problems. The doctors blamed the seasonal change for the condition saying, 'increased changes in air pressure due to monsoon, coupled with hot afternoons and cool nights, is exacerbating joint aches and pains among people'.

The doctors have advised people to exercise moderately, stay hydrated and avoid getting wet in the rain. Sedentary lifestyle, lack of nutritious diet and exercise, besides excessive smoking and consumption of alcohol also contribute to the disease.   

2. "Highlights of events today"

• Indian Government Imposes 40% Export Duty on Onions with Domestic Supplies being the focus.

• India, New Zealand hold foreign office consultations. Focus on economic & trade cooperation, defence exchanges, education, science & technology.

• Armenia PM Pashinyan Extends Invitation to Indian PM Modi for High-Level Visit; Acknowledges India's Growing Global Role in Upholding Democratic Values.

• Indian PM Modi extends his sympathies over terrorist attack on the shrine of Shahcheragh in Shiraz, Iran. He extended sympathies during his talks with Iran President. It is one of the most important shrine in Shia Islam.

• UAE condemns burning of Churches in Pakistan. It is perhaps for the first time that the West Asian country has issued such a statement on situation of minorities in the country.    

1. "RBI's UDGAM portal - for unclaimed deposits"

The RBI has launched UDGAM Centralized web portal to search for unclaimed deposits. You can visit the site at https://udgam.rbi.org.in/unclaimed-deposits/#/register  and get yourself register to search for unclaimed deposits.

The term 'unclaimed deposits' refers to funds in savings or current accounts that have not been used for 10 years or in term deposits that have not been repaid within 10 years of the maturity date. 

For now, customers will be able to view information about their unclaimed deposits from the following 7 banks:

• State bank of India

• Punjab National Bank

• Central Bank of India

• Dhanlaxmi Bank Ltd

• South Indian Bank ltd  

• DBS Bank India ltd

• Citibank

The search feature for remaining banks on the portal would be rolled in by 15.10.2023.

The total amount of unclaimed deposits transferred  to the RBI by Public Sector Banks fell to INR 35,012 crore till February'2023, from INR 48,262 in March'2022. Out of which, SBI has the largest share of INR 8,086 crore, followed by PNB at INR 5,340 crore, Canara Bank at INR 4,558 crore and BOB at INR 3,904 crore. The decline in the amount from March'2022 to February'2023 simply means that customers have reclaimed their deposits from banks.

2. "Highlights of events today"

• PM Modi, Iran President Seyyed Ebrahim Raisi hold telephonic talks; Discussed Chabahar port. Indian Readout confirms PM Modi- Prez Raisi meet in Johannesburg next week on the sidelines of BRICS summit.

• India moves one step closer to the Moon, Vikram Lander completes its maiden solo manoeuvre.

• US approves sending F-16 jets to Ukraine from Denmark and Netherlands.

• US court denies Mumbai terror attacks accused Tahawwur Rana's plea against extradition to India.

• Indian officials are contemplating reallocating as much as $12 billion from ministry budgets to curb food and fuel prices without compromising the government deficit objective.

• China's Evergrande Group officially filed for bankruptcy in New York.   

1. "Railway plans PLI scheme for train parts"

The government is planning to introduce a production linked incentive (PLI) scheme for train component makers. The contours of the PLI scheme will be worked out with the help of a consultancy fiem, which will be selected through a bidding process this month. The consultant will prepare a list of components that are largely imported and used in making engines and coaches, also called rolling stock.

The PLI scheme being considered is in line with the governments plan of having only 2 types of passenger coached in Indian Raiways - Linke Hofmann Busch (LHB) and Vande Bharat. The import component in LHB coaches is around 1.5% but in Vande Bharat it is estimated to be about 15%.

2. "China's largest shadow bank defaults"

Founded in 1995 as a lumber business, Zhongzhi Enterprise Group Co. grew to become a financial conglomerate with more than 1 trillion yuan ($138 billion) under management. The firm has now raised alarm bells across Chinese markets after affiliated firms missed payments on some investment products.  Chinese authorities have already set up a task force to study any possible contagion, with the banking regulator examining risks at Zhongzhi. 

Zhongroung Internation Trust, part owned by Zhongzhi, is among the biggest firms in the country's $ 2.9 trillion industry, which pools savings from wealthy households and corporate clients to invest in and make loans to real estate, stocks, bonds and commodities. The said firm missed at least 2 payments and has 270 products totaling 39.5 billion yuan due this year. 

Its not the only firm in difficulties, a total of 106 trust products worth 44 billion yuan defaulted this year through July 31. Real estate investments accounted for 74% of the defaults by value. 

3. "Highlights of events today"

• The elections in Pakistan (that were expected to happen in Nov) are delayed following Pakistan Election commission declared its intention to draw up new constituency boundaries based on new census.

• US investment bank Goldman Sachs has picked up a stake in the Adani Powers Ltd, which sold shares worth $1 billion in a block deal.

• The World Health Organization opened its first summit on traditional medicine in Gandhinagar city of the western state of Gujarat.   

• Jailed terrorist Yasin Malik's wife added to Pakistan PM's caretaker cabinet.

1. "Highlights of events today"

• India Collaborates with the United Nations World Food Programme (UNWFP), sends 47,500 MTs of Wheat Aid to Afghanistan via Chabahar Port in Iran. 

• India hands over replacement Donier-228 maritime surveillance aircraft to Sri Lanka Air Force. It's a replacement for the Donier-228 given in 2018. 

• US Congressional delegation meets EAM Jaishankar.

2. "India's retail inflation hits 15 month high on food prices"

Retail inflation surged to 7.44% in July on an annual basis as against 4.81% in June. It is the highest reading since May 2022 when inflation rate stood at 7.79%. The consumer food price index rose to 11.51% from 4.49% in June. Rural inflation stood at 7.63% while urban inflation stood at 7.20%.

The CPI inflation soared to a much sharper than expected 15 month high, due to vegetables, as well as some other food items such as pulses, spices and cereals. Excluding vegetables, the increase in the CPI inflation print was relatively tolerable, to 5.4% in July 2023 from 5.2% in the previous month. Barring food and beverages, the inflation in all other groups eased in July 2023 against June 2023, offering some relief. Moreover, the core CPI (CPI excluding food and beverages, fuel and light and petrol and diesel) eased to a 21 month low of 5.1% in July 2023.  

1. "Highlights of events today"

• UAE's Abu Dhabi National Oil Company (ADNOC) & India's Indian Oil Corporation Limited (IOCL) settle 1st ever crude oil transaction in national currencies.

• 19th round of India, China Corps Commanders talks.  

• Former senator Anwaar-ul-Haq Kakar appointed caretaker prime minister of Pakistan.

• Latvian Prime Minister Krisjanis Karins announced his intention to step down from his role.  

2. "High number of engineers getting selected in UPSC"

Concerned about the higher number of engineers getting selected as civil servants, a parliamentary panel has recommended a comprehensive reevaluation of the recruitment procedures for in the UPSC exam. 

The panel highlighted that over 70% candidates selected through the civil Service Exam in recent years hailed from technical or medical backgrounds. The panel said that these candidates, the country is 'losing' exceptional doctors and engineers due to this.  The percentage of candidates with an engineering background has surged from 46% in 2011 to 65% in 2020.

The committee further urged a reduction in the duration of the recruitment test conducted by the UPSC, citing the financial implications and erosion of human capital caused by the protracted process. it suggested that the entire recruitment process should ideally be completed within 6 months timeframe and proposed the adoption of computer based examinations. 

1. "Highlights of events today"

• Indian Navy participates in bilateral maritime naval exercise with the UAE Navy. Two Indian Naval Ships INS Visakhapatnam and INS Trikand participated in the exercises. 

• India's Deputy High Commissioner in Colombo Dr. Satyanjal Pandey meets Sri Lankan Defence Secretary General Kamal Gunaratne at the Defence Ministry. Assures fostering defence cooperation. 

• India, Angola hold foreign office consultations.

• India win the Asian Champions Trophy 2023 Final; defeat Malaysia by 4-3, in Chennai. 

• Pakistan Prime Minister Shehbaz Sharif and the leader of the opposition Raja Riaz, have chosen Senator Anwar Ul Haq Kakar to become the country’s caretaker PM. 

2. "Birth certificates as key documents in future"

A bill was introduced in the Lok Sabha last week with an aim to allow the use of birth certificate as single document for admission to an educational institution, issuance of driving license, preparation of voter list, Aadhaar number, registration of marriage or appointment to a government job.

India has taken the first step to generate digital birth certificates. The bill proposes to make it obligatory for states to register births and deaths on the Centre's Civil Registration System (CRS) portal, and to share the data with the Registrar General of India which functions under the Union Home Ministry. 

1. "Russia's  Luna-25 and Chandrayaan-3"

Russia successfully launched its inaugural moon landing spacecraft today in 47 years. The ISRO congratulated its Russian counterpart Roscosmos - the state corporation of Russian Federation responsible for space flights. 

Luna-25, also called the Luna-Glob-Lander, will study the composition of moon's polar soil and the plasma and dust contained in the very thin lunar exosphere, or the moon's scant atmosphere, for 1 year.  

Luna-25 is expected to touch down the moon on 21.08.2023. India's Chandrayaan-3 mission, launched on 14.07.2023, is due to land on the Moon's south pole on 23.08.2023. However, the 2 lunar missions won't interfere with each other, as they have separate landing areas planned.  

NASA plans to land a woman and a person of color on the moon for the 1st time at the lunar south pole in the late 2025 during the Artemis 11 mission. The reason so many missions have been designed to explore this region of the moon is due to its potential resources. Deep, permanently shadowed craters at the lunar south pole may contain ice that could be used for drinking water, oxygen and fuel.

2. "Highlights of events today"

• Belavia, the flag carrier of Belarus launches its first direct flight connecting Minsk & Delhi. First flight reaches tomm morning in Delhi.

• UK’s Security Minister Tom Tugendhat in India, met EAM Jaishankar - announced new £ 95,000 fund to enhance the UK’s capability to tackle Pro-Khalistan Extremism.

• With Sydney Harbour in the backdrop, Malabar exercises involving forces of India, Australia, US, Japan begin. Australia is hosting the Malabar exercises for the first time.   

1. "India to replace Microsoft Windows with Indigenous Maya OS"

In the face of ever increasing menace of cyberattacks and malware including ransomware, which are not only troubling individuals and businesses but also government agencies, the Indian government has reportedly decided to switch to a more secure operating system. The first in line to deploy indigenous 'Maya OS' is the defence ministry which has decided to replace Microsoft OS with a new OS called 'Maya' and install 'Chakravyuh' end point anti malware and antivirus. 

Indian Navy clears usage of indigenous Maya OS (for replacement of Microsoft Windows). IAF and Army still evaluating it. 

Maya OS is a new operating system developed by the Union Ministry of Defence to protect its computer systems from cyberattacks. It is based on the open-source Ubuntu platform, which means it uses free and publicaly available software. Maya OS also comes with a feature called Chakravyuh, which is an end-point anti-malware and antivirus software that creates a virtual layer between the user and the internet, preventing hackers from accessing sensitive data.  

2. "Highlights of events today"

• India-Sri Lanka-Japan meet this morning being organised by VIF, NatStart, Pathfinder & CII.

• Belarus Foreign minister Sergei Aleinik meets Indian ambassador to Belarus Alok Ranjan Jha; Belarus Readout says, they discussed Belarus's accession to Brics, SCO & Minsk-Delhi direct flights.

• Virgin Galactic rockets its first tourist passengers into space.

• No Confidence Motion against Narendra Modi government defeated in the lower house of Indian Parliament.

• Pakistani government launches WhatsApp's alternative 'Beep'; app aimed to enhance security.  

1. "India bans chinese parts in military drones"

India's approach complements phased import restrictions on surveillance drones since 2020 and is being implemented through military tenders. At the 2 meetings in February and March to discuss drone tenders, Indian military officials told potential bidders that equipment or subcomponents from 'countries sharing land borders with India will not be acceptable for security reasons'. One tender document said such subsystems had 'security loopholes' that compromised critical military data, and called for vendors to disclose components' origin.

The U.S congress in 2019 banned the Pentagon from buying or using drones and components made in China. 

India has set aside INR 1.6 billion for military modernization in 2023-24, of which 75% is reserved for domestic industry. India,  currently relies on foreign manufacturers for both, parts and entire systems as it lacks the know-how to make certain types of drones. 

2. "Highlights of events today"

• India, Cameroon hold foreign office consultations.

• Former Pak PM Imran Khan disqualified for 5 years. Which means he can't hold public office for 5 yrs, since he is convicted & sentenced under Toshakhana case.

• India exports first trial shipment of pomegranate to the USA through air route; Was initiated by Agricultural and Processed Food Products Export Development Authority (APEDA) in collaboration with US authorities.

• Trade Minister Piyush Goyal participated in the 7th BRICS Industry Ministers’ meeting.    

1. "India started manufacturing 38 Bulk Drugs"

India has started manufacturing 38 active pharmaceutical ingredients, or APIs, in the last one and a half years on which it was import dependent, under the PLI scheme for sector. Health minister Mandaviya said that the 2017 border standoff with China in Doklam triggered India to rethink its self reliant strategy regarding active pharma components as it was dependent on just 1 country for the import pf 95% of APIs for the formulation industry. 

A bulk drug, also called an active pharmaceutical ingredient (API), is the key ingredient of a drug or medicine, which lends it the desired therapeutic effect or produces the intended pharmacological activity. 

2. "Highlights of events today"

• India, Thailand hold foreign office consultations.

• Bhaskar Bhatt appointed as the next Indian Ambassador to Burkina Faso.

• Rahul Gandhi's parliament membership restored days after SC relief.

• Rajya Sabha passed the Government of National Capital Territory of Delhi (Amendment) Bill, 2023. The bill to replace the ordinance on transfers and postings of senior officers in the Delhi government was passed with 131 votes against 102 votes. 

1. "Highlights of events today"

• Bhoomi Pujan ceremony for the India International Centre for Buddhist Culture and Heritage (IICBCH) in Lumbini, Nepal. The foundation stone for the project was laid by Indian PM Modi during Nepal visit in May 2022. 

• At Saudi hosted meet on Ukraine Resolution, Indian NSA Ajit Doval emphasises on dialogue and diplomacy; highlights the burnt of the conflict on the global south.

• The Pakistani foreign ministry says the country has decided to send its Cricket Team to India to participate in the upcoming ICC Cricket World Cup 2023.

• Having travelled a distance of nearly 3.84 lakh kilometres over a period of 20 days in space, India's third Lunar spacecraft Chandrayaan 3 has been captured by the Lunar gravity.

• Prime Minister Narendra Modi virtually laid the foundation stone for the redevelopment of 508 railway stations across India as part of the Amrit Bharat Station Scheme.

2. "UGC declares 20 universities as fake" 

On 02.08.2023, the university Grants Commission (UGC) issued a public notice announcing and confirming 20 fake universities in India. As per notice, these fake universities are not eligible to grant any degree to students.

The list of fake universities include 8 institutions from Delhi, 4 from UP, 2 each from Andhra Pradesh and West Bengal and 1 each from Karnataka, Kerala, Maharashtra and Puducherry. The commission is still identifying universities and colleges that are fake / bogus and is constantly looking to updating its portal.

UGC secretary has requested parents and students to visit the official UGC website https://www.ugc.gov.in/ to differentiate between authorized and unauthorized universities. They also urged to notify an institute offering courses or degrees in contravention of UGC Act, students and parents are requested to inform the commission through an email to ugcampc@gmail.com so that appropriate action can be taken by authorities.

1. "Highlights of events today"

• PM Modi, Nepal PM Prachanda hold talks; Indian Readout says they ,'reviewed various aspects of the India-Nepal bilateral cooperation' 

• India provides INR 450 million to Sri Lanka to implement Sri Lanka Unique Digital Identity program; Indian High Commissioner Gopal Baglay handed over the sum to Sri Lanka's Minister Kanaka Herath.

• Former Pakistani PM Imran Khan arrested as Islamabad court sentences him 3 years in prison in Toshakhana case.

• NSA Ajit Doval in Jeddah for Saudi Arabia hosted talks on Ukraine. 30 countries participate at the Saudi hosted talks on Ukraine. China represented by Special Representative of the Chinese Government on Eurasian Affairs Li Hui. Russia not present.

• Russian court sentences Alexei Navalny to 19 more years in prison.

1. "China records heaviest rainfall in 140 years"

Extreme rain battered Beijing, Tianjin and the province of Hebei in the wake of Typhoon Doksuri in late July, causing widespread flooding and damage in a region the size of Britain. 

A reservoir in Beijing's Changping district logged a precipitation reading of 744.8 mm between Saturday and Wednesday, the most in the city in over 140 years and far exceeding the previous record of 609mm set in 1891. The persistent downpour prompted Beijing to use a flood storage reservoir for the first time since its establishment 25 years ago to divert floodwater.

Besides the remnants of Doksuri, warm and humid air flows and water vapour brought by Typhoon Khanun slowly moving in the western pacific created the conditions for the heavy rains, according to Chinese meteorologists.  

2. "Highlights of events today"

• Egypt Air launches direct air connectivity between Cairo & Delhi. 4 weekly flights (From Cairo on Fridays, Sundays, From Delhi on Thursdays, Saturdays). 

• In a rare & significant gesture, Papua New Guinea's Prime Minister James Marape visits Indian Navy Ships- INS Sahyadri and INS Kolkata- who docked at Port Moresby. He & his entire cabinet was hosted by Indian High commissioner Inbasekar Sundaramurthi. 

• India, Kazakhstan hold key security dialogue; discuss Afghanistan, counter terror.

1. "India's credit rating soars, China faces downgrade"

Morgan Stanley has made significant adjustments to its ratings for Key Asian Economies. The firm has upgraded India's rating to 'overweight' and ranked it in the 1st  position in its basket of Asian emerging markets, while downgrading China and Taiwan to 'equal weight'. This upgrade comes just 4 months after Morgan Stanley previously elevated India from 'underweight' to 'equal weight' on 31.03.2023. 

The firm justified Indian's position saying 'India is now the top ranked, most preferred market among emerging markets, rising from the 6th spot, due to supportive foreign inflows, macro stability and positive earnings outlook'

2. "Highlights of events today"

• Indian Navy Ships INS Kolkata & INS Sahyadri at Port Moresby, Papua New Guinea for enhancing maritime partnership and cooperation.

• In Oman, Indian Navy Chief Adm R Hari Kumar visits Duqm port. Meets crew of INS Trikand on mission deployed for anti piracy patrol. 

• EAM Jaishankar holds high level engagements between India & Latin America. 34 visits from India to the region, and 38 from the region to India. India opened embassies in Paraguay and Dominican republic 

1. "Highlights of events today"

• Advance recce teams of G20 countries visit the Bharat Mandapam convention centre in Delhi as leaders prepare to land in Delhi next month for the mega summit.

• Sri Lankan Central Bank clarifies on the announcement of Indian Rupee as "Designated foreign currency" (DFC) - Legal tender for domestic payment will be SL Rupee, Indian Rupee is not a legal tender for domestic payment.

• Xi Jinping sacks top military generals.

• Another cheetah in India’s Kuno national park has died, taking the toll to a whopping nine, within a mere five months.

• Fitch Ratings has downgraded the US government’s credit rating from top AAA to AA+ amidst concerns over the country’s ability to handle its finances and debt burden.  

2. "India - an upper middle income economy by 2030 - StanC Report"

In a recent report, Standard Chartered Bank said that it predicts India's per capita income is poised to experience significant growth, soaring by nearly 70% to reach USD 4,000 by fiscal year 2030, up from USD 2,450 in fiscal year 2023. From fiscal year 2001 to fiscal year 2021, per capita income has increased significantly, rising from USD 460 to USD 2,150.

This surge is expected to help the country achieve the status of a upper middle economy, boasting a GDP of USD 6 trillion. The world bank classifies economies based on 'gross national income per capita' in USD, calculated using what is called as Atlas method. The classification is made in four groups - low income, lower-middle income, upper-middle income and high income. The classification are updated each year on 1st July.

According to StanC report, the foremost driver in growth will be external trade, which is estimated to nearly double to USD 2.1 trillion by 2030, up from USD 1.2 trillion in fiscal year 2023 when GDP stood at USD 3.5 trillion.

1. "Highlights of events today"

• India's Chandrayaan-3 is now in space, historic journey to Moon begins.

• Indian PM Modi's second day in France, He will attend Bastille Day celebrations as a guest of honour. 

• Putin and Erdogan reach an agreement to extend the Black Sea grain deal.

• France honors Indian PM Modi with the Grand Cross of the Legion of Honor. It is the highest French honour in military or civilian orders. PM Modi is the first Indian PM to receive this honour. In the past, the Grand Cross of the Legion of Honor has been conferred on Nelson Mandela, King Charles - the then Prince of Wales, Angela Merkel, Boutros Boutros-Ghali.

1. "Highlights of events today"

• Indian PM Modi's 1st day in France. He was welcomed at the airport by France's Prime Minister, Elisabeth Borne.

• India to open a new consulate in Marseille.

• Secretary West Sanjay Verma in Kyiv for the 9th India-Ukraine foreign office consultations with First Deputy Foreign Minister Emine Dzhaparova. This is the first such visit from India to Ukraine the outbreak of conflict. 

• India and France have agreed on the UPI payment mechanism & it will begin from the Eiffel tower which means Indian tourists can pay in rupee.

• DAC approves proposals for procurement of 26 Rafale Marine aircraft from France to boost Indian Navy’s operational capabilities. 

1. "Highlights of events today"

• Devesh Uttam appointed as the first ever Ambassador to Lithuania.

• Secretary-General of the Muslim World League Sheikh Mohammed bin Abdulkarim Al-Issa meets PM Modi in Delhi. 

• EAM Jaishankar, Maldives Foreign Minister meet in Delhi. 

• 6th India Arab Partnership Conference 2023 in Delhi.

• Indian foreign secretary & Sri Lankan Foreign Secretary hold talks in Colombo. 

1. "Highlights of events today"

• Larsen & Toubro and Navantia team up to bid for India's top submarine program, strengthening the nation's naval capabilities.

• Prashant Kumar Das appointed as the next Indian Ambassador to Equatorial Guinea.

• US Navy Ship arrives in Chennai for repairs. Repair under Master Ship Repair Agreement (MSRA) signed between the U.S. Navy and L&T.

2. "Highlights of events this week"  

• PM Modi to visit France.

• Secretary General, Muslim World League Dr. Mohammad al-Issa in India, meets NSA, EAM, President.

• Maldives FM Abdulla Shahid in Delhi.

• Defense Minister Rajnath Singh in Malaysia.

• Trade Minister Goyal in UK.

• MoS MEA Muralidharan in Syria.

• G20 Sherpa meet in Hampi.

• Foreign Secretary Vinay Kwatra in Colombo.

• US human rights official in Delhi.

1. "RBI’s Step Towards Internationalization of Rupee"

The RBI's inter - departmental group (IDG) on 05.07.2023 said that it is pushing for a roadmap towards the internationalization of the Rupee with India remaining one of the fastest growing countries and showing remarkable resilience in the face of major headwinds. Currently, the USD, Euro, Yen and Pound are the leading reserve currencies in the world. China's efforts to make its currency has met with only limited success so far.

The working group has recommended a slew of short to long term measures to accelerate the pace of internationalization of the Rupee: 

  Short term:

• Adoption of standardized approach for examining the proposals on bilateral and multilateral trade arrangements.

• Strengthening the financial market by fostering a global 24*7 Rupee market and recalibration of the FPI regime.

 Medium term (over the next 2 to 5 years):

• Group has recommended a review of taxes on masala (rupee denominated bonds issued outside India by Indian entities) bonds.

• International use of RTGS for cross - border trade transactions. 

• Inclusion of Indian Government Bonds in global bond indices.

Long term:

• Group has recommended that efforts should be made for the inclusion of the Rupee in IMF's SDR (special drawing rights).

2. "Highlights of events today"

• MoS MEA Meenakashi Lekhi on a visit to Croatia and North-Macedonia.

• Indian, British NSAs hold talks today in Delhi

• India joins the Champions Group of the Global Crisis Response Group.

• Indian contingent of four Rafale fighters, two C-17 Globemasters and 72 IAF personnel departed for France today to take part in Bastille Day celebration next week. 

• MEA's Secretary (CPV & OIA) Ausaf Sayeed visits Palestine. Among other things inaugurated Artificial Limb Fitment Camp at Abu Rayya Rehabilitation Center. The camp is expected to benefit about 600 Palestinians. 

1. "Highlights of events today"

• MoU signed paving way for setting up the first foreign campus of India's prestigious IITs. IIT Madras to set up a campus in Tanzania. Announcement comes during EAM Jaishankar's visit to the country. 

• India, France NSAs meet in Delhi ahead of PM Modi's visit to Paris next week.

• Indian tri service contingent leaves for France Bastille day parade. Tri-services contingent of the Indian Armed Forces will march alongside their French counterparts on Bastille Day on 14.07.2023.

2. "RBI to let customers choose card network"

The central bank has prop0sed that card issuers should provide an option to their eligible customers to choose any 1 among the multiple card networks - Visa, Mastercard, Rupay, etc.. In a draft circular issued to banks, RBI has said that, the option may be exercised by the customers either at the time of issue or at any subsequent time, and that the card issuers should not enter into any arrangement or agreement with card networks that restrain them from availing services of other card networks.

RBI's proposal comes at a times when the credit card business of banks is booming. According to RBI data, credit card outstanding has soared to INR 2 lakh crore, a rise of 29.7% on a year-on-year basis. Banks have issued 8.65 crore credit cards as of April'23. Monthly credit payments are now over INR 1 lakh crore, with card payments touching INR 1.32 lakh crore in the month of April'23. 

1. "Highlights of events today"

• India, Armenia hold political consultations. Armenia briefed the Indian side on the aggressive actions undertaken by Azerbaijan recently and ongoing to this day, which pose a threat to  stability and peace in the South Caucasus.

• Taiwan announces that it will open its 3rd diplomatic office (Taipei economic & culture center TECC) in India. After Delhi, Chennai, representative office to be opened in Mumbai.

• Brics Sherpa meeting in South Africa. India's Brics Sherpa Dammu Ravi (L), JS MER, Brics Ninad Deshpande (R) present at the meet. 

• India, Japan hold 7th edition of the bilateral Maritime Exercise 2023 (JIMEX 23) at/ off Visakhapatnam from 5 -10 July 2023. This edition marks the 11th anniversary of JIMEX, since its inception in 2012. 

• BJP National President JP Nadda met the Head of Mission of 12 countries under Know the BJP program.

2. "Sensex, Nifty Close at Record Highs"

Sensex surge by around 10% in 1st quarter of FY 2024, the benchmark index has spurted 2,226 points or 3.53%, in last 6 sessions, even as analysts cautioned that there is no room for exuberance as the market is now entering the 'overheated zone'. Following are the reason behind the surge:

• One of the main reason behind the surge is FPI. In Q1 =, FPI pumped in INR 1.02 lac crore into equities. As much as INR 14,803 crore FPI inflows into equities came on 30.06.2023 when the Sensex and Nifty closed at all time peaks. They remained consistent buyers, with average daily inflows of around INR 1,100 crore in Q1. 

• India's strong GST collection that crossed INR 1.6 lac crore mark in June.

• Better recovery in the monsoon in June and normal rains expected in July as well.

• Expected stable interest rate scenario worldwide, The US Q1 GDP reassessment from 1.3% to 2% and easing of US PCE inflation that offers relief to investors who were worried about further interest rate hikes.

• Global markets are supported by resilient economic data, avoiding the possibility of a recession. 

• Economic activities are gaining strength with the manufacturing PMI level at 57.8, indicating sustained demand for products.

1. "PM Modi at SCO Summit"

PM Modi is hosting the virtual summit at the Shanghai Cooperation Organization (SCO) today, which saw the participation of Russian President Putin, Pakistan PM Sharif and Chinese President Xi. The meet comes at a crucial time, with India's ties with neighbour's Pakistan and China tense and war raging in Europe.

Formed in 2001 by China and Russia, with former Soviet Central Asian States as members and later joined by India and Pakistan in 2017, The 8 member SCO is a political and security group that seeks to counter western influence in Eurasia. 

In September'2022, India took over the presidency of the SCO and has created 5 new pillars and focus areas of cooperation in SCO. These are Startups and Innovation, Traditional Medicine, Digital Inclusion, Youth Empowerment and Shared Buddhist Heritage.

Addressing the 23rd summit of SCO, PM Said that 'Terrorism is a threat to regional and global peace, we will have to fight against terrorism'. In an apparent attack on Pakistan and China, PM Modi called on member states to not hesitate to condemn countries that use cross border terrorism as 'policy instruments' and shelter terrorists.   

2. "Highlights of events today"

• Khalistani extremists vandalise Indian consulate in San Francisco; State Department condemns the incident.

• Deputy UNSG Amina J. Mohammed holds talks in Delhi.

• In a major relief for Imran Khan, the Islamabad High Court (IHC) declared “void” the sessions court's verdict in the Toshakhana case against the Pakistan Tehreek-e-Insaf (PTI) chairman. 

• Taliban have given Afghan women 1 month to shut down beauty and hair salons in the country.

1. "Government bans cigarette lighters import"

Imports of cigarette lighters costing below INR 20 (CIF value), which was free until 29.06.2023, has now been banned by the government. The ban extends to pocket lighters, gas filled, non-refillable or refillable. Imports of these lighters are mainly from Spain, Turkey and the UAE. Apart from these official routes, lighters are being illegally imported from China as 'empty lighter cases' using manipulated invoices to bypass the restrictions governing inflammable substances and trick the customs.

In September'2022, Tamil Nadu CM Stalin wrote a letter to centre seeking ban on single use plastic cigarette lighters to save the matchbox industry, which is a major source of employment in the southern part of the state. This traditional industry provides a livelihood to over 1 lac people of which the majority are women.

2. "Highlights of events today"

• Amarnath Yatra begins, first batch of devotees leave for the Holy Cave.

• Australia becomes 1st country to legalize ecstasy and magic mushrooms.

• Belarus bans 'unfriendly foreign media', President Lukashenko signs new law as Wagner Chief seeks shelter in Belarus.

• OceanGate announces future expeditions just days after Titan Submersible  tragedy, The company has scheduled two expeditions for 2024, despite the deaths of all five passengers on the Titan Submersible.

• France: Four days of demonstrations, 1311 arrests. French President postpones state visit to Germany.

• NCP's Ajit Pawar joins NDA government, takes oath as deputy chief minister of Maharashtra.

1. "Highlights of events today"

• US commerce secretary Gina Raimondo hosts Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial; Attended by India, Japan among other countries.

• India, Pakistan exchange of list of prisoners. They exchange it every 1 January, 1 July. Part of 2008 pact. India shared list of 343 civilian prisoners & 74 fishermen in its custody (who are Pakistani) & Pakistan shared lists of 42 civilian prisoners & 266 fishermen in its custody (who are Indian).

• India and France hold maritime exercises in the Bay of Bengal.

• Indian Defence Secretary was on a visit to Myanmar; Met top leadership, discussed issue relating to India's security & that "respective territories would not be allowed to be used for any activities inimical to the other"

2. "Pakistan IMF $ 3 billion bailout"

The IMF has reached a 'staff level pact' with Pakistan on a $ 3 billion 'stand by agreement'. The deal is subject to approval by the IMF executive board by mid-July. The deal does not come under Pakistan's Extended Fund Facility programme, which the country entered in 2019, and which was to expire on 30.06.2023.

The SBA will make available $ 3 billion to Pakistan, spread over 9 months. However, the deal comes with some major strings attached - issues which had previously been a sticking point in the negotiations between the IMF and Pakistan. The stringent conditions attached to bailout are;

• The IMF has called for a timely rebasing of tariffs to ensure that costs are recovered. For instance, removing subsidies on electricity tariffs, which will mean that price hikes for consumers are inevitable amidst already sky high inflation.

• Pakistan's central bank will have to remove import restrictions which are currently in placed to restrict $ going out, causing decrease in foreign exchange reserves. Currently Pakistan foreign reserves is standing at just about $ 3.5 billion, barely enough to cover 1 month's controlled imports. 

• Currently, there are multiple controls and exchange rate practicies in different markets in Pakistan. The IMF has directed these to be eliminated, with a fully market determined exchange rate. This will cause Pakistan's already fallen rupee to reach above 300 levels, which currently is at around 286 against $.

• The deal is also likely to see further rate hikes by the Central bank, with the IMF asking it to be 'proactive' in curbing inflation. Currently, the policy rate stands at 22%.

1. "Highlights of events today"

• IMF, Pakistan agree on $3.3bn staff level agreement.

• Dr. T.V. Nagendra Prasad appointed as India's next ambassador to Kazakhstan.

• At the initiative of the Indian side, Vladimir Putin had a telephone conversation with PM Modi.

• Brazil's Supreme Court has barred former President Jair Bolsonaro from running for office for eight years.

• A California-based automaker has been given the first-ever approval to have a car flown in the air on an experimental basis. 

1. "India's remittance growth could slow"

India, which registered a growth of more than 24% to reach a record high $ 111 billion in remittances in 2022, is expected to post a growth of just 0.2% in remittances inflows in 2023. Slower growth in OECD economies - especially the high tech sector in US that could affect the demand for IT workers and lead to a diversion of formal remittances toward informal money transfer channels - is likely to impact the inflow off remittances this year. A lower demand for migrants in the Gulf countries , where declining oil prices have dented growth, is another key contributing factor. 

The growth of remittances is likely to be highest in Latin America and the Caribbean (forecast of 3.3%), as the labour market in the US continues to be strong. Remittance growth is expected to be the lowest in South Asia (forecast at 0.3%) mainly because of the high base in 2022 along with slowing demand for highly skilled IT workers in the US and Europe. 

Almost 36% of India's remittances are from high skilled and largely high tech Indian migrants in the US, UK and Singapore. Remittance inflows from the Gulf countries account for 28%. 

Remittances represented only about 3.3% of GDP in 2022. In Nepal, remittances stood at 23.1% of GDP in 2022, compared with 7.9% in Pakistan, 5.1% in Sri Lanka and 4.7% in Bangladesh. 

2. "Highlights of events today"

• 5th India-Philippines Joint Commission Meeting on Bilateral Cooperation in Delhi.

• Russian NSA Gen Nikolay Patrushev hold telephonic talks with NSA Ajit Doval; Briefs about recent developments in Russia among other issues.

• India, Tanzania agree on 5 roadmap for defence cooperation; Focuses on initiatives ranging from customised training & capacity building to maritime cooperation.

• Philippines Government to introduce e-visa for Indian nationals.

1. "India's road network now 2nd longest in world"

Nitin Gadkari on 27.06.2023 claimed that the road network in the country grew by 59% over the last 9 years, from 91,287 km in 2013 - 14 to 1,45,240 km currently, to become the 2nd largest road network (US at no. 1) in the world, leaving China behind. He added that the increase in 4 lane rose about 2 times in the last 9 years, from 18,371 km in 2013 - 14 to 44,654 km currently. 

Special emphasis is being laid on the expansion of the road highway network in North East region. Projects worth more than INR 2 lac crore are being carried out in the region. 

Following benefits were stated by minister:

• Introduction of FASTag has reduced waiting time at the toll plazas from 734 seconds in 2014 to 47 seconds in 2023.

• Revenues from tolls rose significantly from INR 4,770 crore in 2013 - 14 to INR 41,342 crore in 2023. 

• Authority has transplanted more than 68,000 trees while it planted 3.86 crore trees during the last 9 years.

• Authority has taken on various rejuvenation initiatives and has developed more than 1,500 Amrit Sarovar's along the highways. 

• Authority has utilized 30 lac tons of garbage in road construction for Delhi Ring Road project. 

2. "Highlights of events today"

• Philippines Foreign minister (Secretary of foreign affairs) Enrique Manalo arrives in India for 4 day visit; To take part in 5th India Philipines joint commission meet.

• Wagner Chief exiled from Russia to Belarus after a failed mutiny.

• Ford Motor has announced plans to carry out layoffs this week, primarily affecting engineering jobs in the United States and Canada.

• Alphabet Inc., the parent company of Google announced a fresh round of firings at mapping app Waze as it merges the app's advertising system with Google Ads technology.

• India's CBI in its chargesheet has stated that Chanda Kochhar 'misappropriated' the bank's funds for her own use and misused her position.

1. "Highlights of events today"

• Pakistan summons US deputy ambassador over India US calling out Islamabad over its support to terrorism in the joint statement issued last week. 

• New York City adds Diwali as a public school holiday.

• India-France hold inaugral Strategic Space Dialogue. Indian Foreign Secretary Vinay Kwatra was in France for the dialogue which comes just weeks before PM travels to the country.

• Denmark has hosted peace talks on Ukraine involving Western countries & India, China, South Africa, Brazil. India is represented by MEA Secretary West Sanjay Verma. 

2. "Passport Seva 2.0"

EAM S Jaishankar on 24.06.2023 announced some major and ambitious plans for second phase of the Passport Seva Programme (PSP - Version 2.0), including upgraded e - passports with embedded chips. Every year 'Passport Seva Diwas' is celebrated on 24th June, to commemorate the enactment of the Passports Act on 24.06.1967.

The new passport jacket will contain an electronic chip with security - related data encoded on it for advanced security and conenience for citizens. These e - passports will store the biographical information visible on page 2 of the passport as well as a digital security feature.  

1. "Highlights of events today"

• India's National Security Advisor Ajit Doval in Oman hold key talks. He called on Oman's Sultan Haitham bin Tarik and delivered a personal message of greetings from Prime Minister Narendra Modi.

• Germany's far-right party AFD wins first governing post.

• Judicial legislation to resume in Israel after three-month halt.

• With the Amarnath Yatra to commence in a few days, DG, CRPF reviewed the preparedness of forces himself to ensure its successful conduct. 

• In an abnormal event, a bald-bodied and deformed Chinese crested dog has been crowned the winner of the 2023 World's Ugliest Dog contest. 

•  Wagner Group Prigozhin pulled back his armed troops and as per deal, all the criminal charges against the Wagner chief has been dropped.

• India summons Senior Diplomat of Pakistan High Commission in Delhi, lodges strong protest over attacks on Sikhs in Pakistan.

• India to remove additional duties on eight US products, including apples as India, US resolve WTO disputes. Market access for Indian steel and aluminum exports to the US restored.

1. "Russia declares counterterrorism state of emergency"

A Russian security source informed on the night of 23.06.2023 that 'Wagner Group' mercenary fighters had taken control of all military facilities in the city of Voroneh, around 500 kms south of Moscow. Chief of Wagner group said his fighters had crossed the border from Ukraine into Russia, entering the city of Rostov-on-Don. Later released a video demanding Russia's defence minister and top general to come at meet him at the spot.

Wagner Group, officially called PMC Wagner, is a Russian paramilitary organization that operates beyond the law in Russia. It is basically a private military company and a network of mercenaries. The group was 1st identified in 2014 while backing pro-Russian separatist forces in eastern Ukraine. Wagner group was involved in Russia's capture of Bakhmut city which is situated in eastern Ukraine. 

In January this year, Chief of Wagner claimed full credit for capturing the Donetsk region and accused the Russian defence minister of trying to steal Wagner's glory. He has repeatedly complained that the Russian military failed to supply Wagner with sufficient ammunition to capture Bakhmut. Chief said that 'this is not a military coup, but a march of justice'. 

Russia's Putin in an address to nation said that, 'excessive ambitions and vested interests have led to treason', and called the mutiny a 'stab in the back'. He added, 'It is a blow to Russia, to our people and our actions to defend the Fatherland against such a threat will be harsh, decisive actions would be taken to stabilize the situation in Rostov-on-Don'.

After the address by Putin, Chief of Wagner group, in an audio said that the President 'was deeply mistaken' in calling him a traitor. Chief was little calm this time. 

It is still to early to comment on the situation. As who might be mistaken could ultimately change. They played a game of counter targeting before taking over the city of Bakhmut in Ukraine. Next 72 hours crucial. World is monitoring situation in Moscow, NATO resisted to add any further comments. 

1. "PM Modi's address to US Congress (parliament)"

In an almost 1 hour speech to the US Congress, PM Modi touched upon variety of themes. They were met with applause and standing ovation several times by the US Congress members, including VP Kamala Harris. The last speech to US Congress by PM Modi in 2016 was for about 45 minutes. 

His speech found mentions to Indian American diaspora, democracy & its values (something he has been confronted with questions), India's diversity (talking about 2,500 political parties, 22 languages, etc.), Economic opportunities in India, How US & Indian is important for each other, Ukraine conflict & terrorism. 

1. "Missing titanic tourist submersible"

The Titanic hit an iceberg and sank in 1912. It was found in 1985 and remains a lure for nautical experts and underwater tourists. The submersible named 'Titan', was carrying a British billionaire and Pakistani tycoon and his son. Oceangate Expeditions charges $ 2,50,000 for a seat on the sub. Also on board is the company's CEO and a French submarine operator. Titan began deep - sea ventures related to Titanic in 2021.

Titan began its descent at 8:00 am on 18.06.2023 and had been due to resurface 7 hours later, but lost contact only after 2 hours and is still missing. Rescuers estimate that the passengers may run out of oxygen by 5:30 pm Today. 

Titan's mission was expected to be the only manned trip to the Titanic this year due to bad weather. Titan is classified as a submersible and not a submarine because it does not function as an autonomous craft, instead relying on a support platform to deploy and return.  As of now, 2 causes are suggested for this incident:

• An electrical or communications problem; or

• A leak. 

2. "RBI allows settlement for willful defaulters" 

As per RBI's classification, a willful default means a borrower has defaulted in repayment of loan even when they have the capacity to repay. Generally it happens when the borrower has not utilized the loan for the said purpose and has diverted the funds. the RBI in a controversial move, has allowed willful defaulters and loan accounts involved in frauds to go in for a compromise settlement with banks to settle their dues.

A section of bankers say that the RBI's decision may be detrimental to the banking system and depositors as the wrongful actions of such defaulters and fraudsters are being condoned, placing burden of their misdeeds on the shoulders of ordinary citizens, especially depositors.  All India Bank Officers Confederation (AIBOC) and All India Bank Employees Association (AIBEA), representing 6 lac bank employees said that, 'We firmly believe that allowing compromise settlement for accounts classified as fraud or willful defaulters is an affront to the principles of justice and accountability'. 

Banks reported 16,044 borrowers with cumulative debt of INR 3,46,479 crore in the willful default category as of December'2022, a jump by 41% in last 2 years from INR 2,45,767 crore in December'2020.  

3. "Highlights of events today"

• Indian PM Modi welcomed at White House by US President Joe Biden, and First Lady Jill Biden, NSA Ajit Doval, Foreign Secretary Kwatra, Deputy Chief of Protocol Aseem Vohra were also present. 

• GE Aerospace signs MOU with Hindustan Aeronautics Limited to produce F414 engines in India to power the Tejas Light Combat Aircraft Mk2.

•  India to sign Artemis accord with US for space exploration.

• UK's debt crosses 100% of GDP for the first time since 1961. 

1. "PM Modi's US state visit"

PM Modi will be 3rd Indian leader to be bestowed the bells and whistles of US state visit and the only PM to be addressing US congress twice. There is every indication from both sides that this will be a path - breaking visit that happens once in a decades. The last time it happened was in 2005, under the leadership of PM Manmohan Singh.

Apart from capital and management expertise, India has always said it required cutting edge US technology. On the other side US wants to leverage risks from China by partnering with India. 

India and US are working together on quantum computing, AI, space, defence, robotics, open radio access network system, 5G & 6G. In the coming years, technology co - operation will be the driving force for bilateral relations. 

However, 1 dark cloud hangs over future prospects for close co - operation. US strategic community thinks that India is a 'bad debt' for Washington as it will not side with Washington when the chips are down, notwithstanding their own position of siding with Pakistan and backstabbing India in the history books. In geo politics no interests are permanent and India will work for it's best interest, given India's history of not conflicting own interest with humanitarian grounds around the world. This position has been made very clearly  in the Russia - Ukraine conflict, India has stood its ground and protected its interest while providing humanitarian assistance to Ukraine, Afghanistan (despite Taliban) and many more.

2. "Highlights of events today" 

• China Blocks India and US Proposal at UN to Designate Pakistan national & 26/11 mastermind Sajid Mir as Global Terrorist.

• PM Modi Led Yoga event at UN: Guinness World Record created for most number of nationalities (135) doing Yoga together. 

• Over six months after inauguration, Pokhara International Airport (PIA) made with Beijing's support  in Nepal witnesses its first international landing. Interestingly Chinese carrier makes first landing .

• PM Modi hold talks with group of healthcare experts, academics, people associated with key think tanks, Business leaders & CEO's. 

1. "Heatwaves in UP & Bihar killed 96 people"

Over the last several days, at least 96 people have died in UP & Bihar, with swaths of the country reeling from a sweltering heatwave. However, after government doctors posted at the eastern UP district said that the deaths could be linked to a heatwave, a senior government doctor from Lucknow - in charge of a probe committee formed to look into the matter - dismissed heat as the reason

Heatwave conditions have persisted over east UP atleast since 12.06.2023. High temperature alone aren't fatal in nature. It's when high temperatures are combined with humidity, known as the wet bulb temperature, heatwaves become lethal.

2. "Highlights of events today"

• PM Modi leaves for New York at 7 am IST from Delhi for a state visit invitation from US President Joe Biden.

• India-France-Australia hold Trilateral Dialogue official level. 

• Petteri Orpo, the leader of the Conservative party in Finland, has been elected as the country's prime minister by the parliament.

• Kuwait's fifth government in less than a year has been sworn-in as the opposition retains a majority in parliament. 

.

1. "World's biggest Aeroplane deal"

Today, India's largest airline Indigo approved an order for 500 Airbus A320 Neo family aircraft. The order is worth over $ 50 billion. The order will be the largest in the history of aviation topping Air India's order of 470 aircraft placed in march. 

Indigo has pending delivery of 477 aircraft by 2030. This order will ensure that the airline gets an uninterrupted supply of new aircraft in the next decade as it expands its fleet. Indigo will retire 100 aircraft by 2030 and wants fresh planes to maintain the targeted fleet size of over 700 .

Indigo has over 60% of India's domestic market and International seat share of 23%. The airline currently offers 26 international destinations and plans to increase their share from 23% to 30% in next 2 years.

2. "Highlight's of events today"

• Indian Americans are holding a "Unity March" in 20 cities across the US, ahead of Indian PM Narendra Modi's state visit. 

• Vietnam Defence minister holds conversation with Indian Defence minister Rajnath Singh, 3rd visit by a foreign defence minister to Delhi this month.

• Dr. Sumit Seth appointed as the next Indian Ambassador to Panama. 

• Noor Rahman Sheikh appointed as the next Indian ambassador to Lebanon.

• Indian contingent participates at Mongolian multilateral exercises Ex Khaan Quest 2023. 

• 10th round of India UK FTA negotiations concludes in Delhi. Technical discussions were held across 10 policy areas over 50 separate sessions.

1. "MRF - 1st stock to cross INR 1 lac per share mark"

Chennai based tyre maker MRF on 13.06.2023 passed a new Dalal Street milestone as it became 1st stock to cross INR 1 lac  price mark. The stock has witnessed strong gains in the last 1 year, it is up by 45% in the last 1 year against a 19% gain in SENSEX. Shares hit their 52 week low of INR 65,900 on 17.06.2022. Apart from strong financials and increasing profitability, the 45% gain has an effect of 52 week low price. 

Market cap of MRF stands at INR 42,390 crore and does not feature among top companies in terms of Valuation. The list is led by Reliance with a market cap of INR 17 lac crore and followed by TCS with INR 12 lac crore.

One of the reason for the current stock price is that the MRF has not done stock splits in nearly 50 years, which companies often do to make their shares more accessible to retail investors. 

2. "INR 500 notes missing, RBI clarifies"

Data was revealed in RTI filed by Manoranjan Roy that INR 500 notes worth INR 88,032.5 crore are missing from Indian Economy. The 3 mints where notes are printed, had issued 8,810.65 million pieces of the newly designed INR 500 notes, however, RBI has only received 7,260 million.  

The RBI has clarified that reports of missing notes from the system are erroneous. RBI said that, 'It may be noted that all bank notes supplied from printing presses to RBI are properly accounted for. There are robust system in place for reconciliation of bank notes printed and supplied to RBI". 

1. "MRF - 1st stock to cross INR 1 lac per share mark"

Chennai based tyre maker MRF on 13.06.2023 passed a new Dalal Street milestone as it became 1st stock to cross INR 1 lac  price mark. The stock has witnessed strong gains in the last 1 year, it is up by 45% in the last 1 year against a 19% gain in SENSEX. Shares hit their 52 week low of INR 65,900 on 17.06.2022. Apart from strong financials and increasing profitability, the 45% gain has an effect of 52 week low price. 

Market cap of MRF stands at INR 42,390 crore and does not feature among top companies in terms of Valuation. The list is led by Reliance with a market cap of INR 17 lac crore and followed by TCS with INR 12 lac crore.

One of the reason for the current stock price is that the MRF has not done stock splits in nearly 50 years, which companies often do to make their shares more accessible to retail investors. 

2. "INR 500 notes missing, RBI clarifies"

Data was revealed in RTI filed by Manoranjan Roy that INR 500 notes worth INR 88,032.5 crore are missing from Indian Economy. The 3 mints where notes are printed, had issued 8,810.65 million pieces of the newly designed INR 500 notes, however, RBI has only received 7,260 million.  

The RBI has clarified that reports of missing notes from the system are erroneous. RBI said that, 'It may be noted that all bank notes supplied from printing presses to RBI are properly accounted for. There are robust system in place for reconciliation of bank notes printed and supplied to RBI". 

1. "Greece migrant boat disaster"

On 14.06.2023, a vessel which was carrying hundreds of migrants desperate to reach Europe risking their life sunk in the sea. The trip from Libya or Tunisia through Central Mediterranean and north to Europe is the deadliest migratory route in the World. 

So far 79 bodies have been recovered and 104 people have been rescued. It is unclear as to how many were missing. Even before this incident, at least 1,039 people were known to be missing from Central Mediterranean crossings this year. Overall, the International Organization of Migration has tallied more than 27,000 missing migrants in the  the Mediterranean since 2014.

1. "US - Iran developments"

The US is holding talks with Iran to sketch out steps that could limit the Iranian nuclear programme, release some detained US citizens and unfreeze some Iranian assets abroad. These steps would be cast as an understanding (informal) rather than an agreement (formal) requiring review by the US Congress (parliament).

US making substantial arrangements to waive sanctions that prohibited Iran from receiving $ 2.7 billion from Iraq and $ 7 billion from South Korea. In return, at least 3 US prisoners will be freed apart apart from limiting Iran's nuclear developments.

2. "Highlights of events today"

• Philip Green appointed as Australia's next High Commissioner to India. 

• Hilary McGeachy appointed as Australia's first Consul-General in Bengaluru, India. 

• Official UN announcement on PM Modi participating at the Yoga Day celebrations at UN HQ.

• Iran's President Ebrahim Raisi visits Cuba, signs agreements to expand cooperation in trade, energy, and technology.

• US, Papua New Guinea sign defence pact in bid to counter China; Deal to allow US to station troops and vessels at key ports and airports. 

1. "Law commission starts consultation on Uniform Civil Code"

The Law Commission of India has invited views of general public as well as recognized religious organizations for UCC. The commission has given 30 days to present views and feedback. Those willing can do so by writing to the commission through email (membersecretary-lci@gov.in) or via its website.

UCC is one that would provide for 1 law for entire country, applicable to all religious communities, in their personal matters such as marriage, divorce, inheritance, adoption, etc. Article 44 of the Constitution lays down that 'the state shall endeavour to secure a UCC for the citizens throughout the territory of India'.  At present, personal matters are allowed to be governed by religious laws. 

2. "Highlights of events today"

• India, Greece hold foreign office consultations in Delhi.

• UNGA resolution to establish memorial Wall for fallen UN Peacekeepers. India piloted the adoption of a resolution which was co-sponsored by 190 countries. 

• US Federal Reserve pauses rate hikes for the first time in 15 months. 

• Uber will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share.

1. "Visa delay's for Chinese professionals hit businesses in India"

The governments strict approval process for granting visas to Chinese nationals and clearing investment plans of Chinese firms is now hurting Indian businesses, with projects getting delayed or even scrapped.

• Expansion projects of homegrown electronics contract manufactures - including Dixon technologies proposed INR 400 crore unit for manufacturing refrigerators are impacted due to non grant or delay in grant of visas to Chinese engineers. These companies are now sending their technical resources to China and Taiwan to get trained.

• The Tatas called off a proposed JV between group's AC manufacturer Voltas and Chinese compressor manufacturer since the regulator approvals were not forthcoming.

• Several leading Chinese smartphone brands including Vivo, Oppo and Xiaomi, don't have their India CEO in the country for several months since their visas are not getting approved by the government. 

2. "Highlights of events today"

• Ukraine president's key aide Andriy Yermak & Indian NSA Ajit Doval hold talks; First such talks since Prez Zelenskyy -PM Modi meet in Hiroshima.

• EAM Jaishankar addressed  India Africa gowth partnership meet in Delhi. Delhi is hosting a significant Africa meet for the next 3 days.

• Former US president Donald Trump has pleaded not guilty to dozens of criminal counts, including mishandling some sensitive US government documents and preventing their return.

• RBI Governor - Shaktikanta Das received 'Governor of the year' award at the Central Banking Awards 2023 in London. 

1. "Challenges for India's semiconductor manufacturing industry"

Last week, Government announced that it will re-open the window for applying to its INR 76,000 crore semiconductor manufacturing plan after the 1st window failed to attract major names. The Centre, which expects semiconductor market to be worth $ 63 billion by 2026, had received 3 proposals. All the 3 proposals are struggling for various reasons.

• Vedanta - Foxconn had initially applied for a 28 nanometer semiconductor plant in January'22 , but it is yet to communicate as to whether it has secured technology. Neither Vedanta nor Foxconn have the technology to manufacture such chips and will need to license it from another company. Alternatively, they may re-apply detailing its plan of producing chips with a node size of 40 nanometer.

• ISMC, backed by Abu Dhabi based Next Orbit & Israel's Tower Semiconductor, has asked government not to consider its proposal owning to a pending merger between Intel and Tower Semiconductor. 

• Singapore based IGSS Venture's proposal was not found to be up to the mark by the government's advisory committee.    

At the movement, the Vedanta - Foxconn proposal is the only one that the Centre has on its table. It will be crucial for India to receive additional applications under fresh window that opened from 01.06.2023 to 31.12.2024. 

2. "Highlights of events today"

• International day of UN peacekeepers celebrated in Delhi, with the presence of Indian Defence Minister Rajnath Singh, Indian CDS, Army Chief and US coordinator.

• Indian, USA NSAs hold talks in Delhi, ahead of PM Modi's visit to the US this month.

• Bangladesh PM Hasina to send mangoes to Indian President and PM.

• Russia's FSB security service, released a statement saying that it had arrested a group of ex-defence industry workers allegedly suspected of supplying sensitive military information to Ukraine.

1. "Miracle - 4 children found alive after 40 days in jungle"

After 40 days of being lost in worlds biggest Jungle - Amazon, 4 indigenous children were found alive by Colombian soldiers after they survived a plane crash that killed 3 adults including their mother children are siblings and are of ages 13, 9, 4 and 11 months.  

The children were missing after a plane crash that happened early May 1, plane has 6 passengers and a pilot. A search team discovered the bodies of 3 adults on May 16, but could not locate children. As the days searching for the children continued, the soldiers found multiple items that made them think the siblings were still alive including footprints, diapers, a baby bottle and chewed fruit.

The children are members of the Huitoto people, an indigenous group in southeastern Colombia, and the older children had some jungle survival skills. The organization of Indigenous people said, 'the children's survival is a sign of a knowledge and relationship with the natural environment of life, which is learned from the mother's womb and practiced from a very early age'.

2. "Indian IndiGo Airlines flight enters Pakistani Airspace" 

An IndiGo flight from Amritsar to Ahmedabad entered pakistani airspace for 31 mins on 11.06.2023. The flight had to take a deviation due to bad weather in India. The flight went up to Gujranwala before heading back to Indian airspace safely. 

The deviation was reportedly well co - ordinated with pakistan through telephone. The crew was in continuous contact with Pakistan on R / T. A number of flights heading to Lahore were diverted to Islamabad due to poor visibility. 

In another similar incident, a Pakistan International Airlines flight entered Indian airspace in May and stayed nearly 10 minutes due to heavy rainfall in pakistan.

1. "El Nino Arrives, raises fear of extreme temperature"

7 years after 2016, El Nino is back is Pacific Ocean. El Nino is Spanish word which means 'little boy', is a climate pattern that develops along the equatorial Pacific Ocean after intervals of a few years ranging between 2 to 7 years. The 2023 event is 5th since 2000, which means they develop every 4-5 years on average.

Globally El Nino has been associated with severe heatwaves, floods and droughts in the past. In the Indian context, over the last 100 years, there have been 18 drought years. Of these, 13 years were associated with El Nino.  

1. "India's Goldilocks Economy"

In its latest policy review on 08.06.2023, the MPC of RBI kept the repo rate unchanged at 6.5%. A policy stance tells us whether the MPC is trying to contain inflation or boost growth while containing inflation or simply being neutral.

A Goldilocks scenario in an economy refers to an ideal situation where there is a steady growth. The growth is neither too high to trigger inflation and nor too low for a slowdown. There are following features attached to this state of economy:

• Unemployment rate is is really low.

• There is a steady growth in the GDP.

• Retail inflation and interest rates are relatively low.

Reading the MPC statement and latest RBI surveys on consumer confidence and people's expectations of inflation does paint a fairly happy picture, few points are worth noticing:

• GDP growth for FY 23 came in at 7.2% instead of RBI's expectation of 7%.

• Retail inflation fell to 4.7% in April, the lowest since November'21.

• Current quarter growth has been pushed up to 8% and inflation knocked down to 4.6%.

• Higher Rabi crop production.

However, while these are all positive developments, the MPC has chosen to stay vigilant. 

1. "Super - bug killing antibiotic discovered using AI"

Superbugs are bacteria that are resistant to several type of antibiotics. Each year these drug resistant bacteria infect more than 2 million people in the US and kill at least 23,000. 

As per WHO, 'Where antibiotics can be bought for human or animal use without a prescription, the emergence and spread of resistance is made worse". WHO cautions against overconsumption of medicines without medical professionals recommendation for treating common illnesses. 

Narrowing down the right antibacterial chemicals against bacteria can be a long, difficult process. This is where algorithms come in because the concept of AI is based on the process of machines being given large amounts of data and training themselves on identifying patterns and solutions based on them. 

2. "Highlights of events today"

• Upender Singh Rathod appointed as next Indian High Commissioner to Uganda.

• The first edition of India, France and UAE maritime partnership exercise commenced on 07.06.2023 in the Gulf of Oman.

• PM Modi and Saudi crown price hold telephonic talks.

1. "India will reserve oil in salt caverns"

Government owned engineering consulting firm - EIL is studying the prospects and feasibility of developing salt cavern based strategic oil reserves in Rajasthan. If the idea comes to fruition, India could get its first salt cavern based oil storage facility. 

The country's 3 existing strategic oil storage facilities are made up of excavated rock caverns. India is world's  3rd largest consumer of crude, depends on imports for more than 85% of its requirement. Strategic petroleum reserves (SPR) could help ensure energy security and availability during global supply shocks and other emergencies. 

India currently has SPR capacity of 5.33 million tones that can meet around 9.5 days of demand. OMCs have storage facilities for 64.5 days, which means there is sufficient storage to meet around 74 days of country's petroleum demand, which is still not enough for country. And therefore, the country is in process of expanding its SPR capacity by  a cumulative 6.5 million tones at 2 locations.  

2. "Germany nears $ 5.2 billion deal to build submarines in India"

Germany and India are closing in on deal to build diesel submarines in the South Asian country as Russia's prolonged war in Ukraine pushes New Delhi to expand its sources of military hardware beyond its top supplier Moscow. Thyssenkrupp AG's marine arm and India's Mazagon Dock Shipbuilders Limited are jointly bidding for an estimated $ 5.2 billion project to build 6 submarines for an Indian Navy.

All the submarines are to be manufactured in India under the 'Make in India' initiative.  Submarines are a key need for India due to its aging fleet. To effectively patrol the Indian Ocean, Indian Navy needs a minimum 24 conventional submarines but currently has only 16.

3. "Highlights of events today"

• Indian Foreign Secretary in Washington, holds talks with top US officials, including Under Secretary Nuland ahead of Indian PM's visit to the country later this month.

• Indian president travels to Serbia.

• India UK FTS talks in Delhi.

• Air India sends a ferry flight to pick the passengers in Russia, who were to reach San Francisco from Delhi.

• Sri Lankan NSA and India's Deputy NSA hold talks.

• Germany's TKMS and India's MDL sign MoU to bid for India's Submarine project.

• Russia day celebrated at Russian embassy in Delhi.

1. "Apple Vision Pro"

On Monday, Apple unveiled its long awaited mixed reality headset called 'Vision Pro', 1st major product launch since its Apple Watch in 2014. The device will retail at $ 3,499 when it launches in early 2024. 

Once you strap on the headset that is reminiscent of a pair of ski goggles, the Apple experience you must be familiar with by using iPhones or Mac computers is brought out into the real world. The device will use a total of 23 sensors, including 12 cameras, 5 sensors and 6 mics. 

2. "Barrel cut at OPEC+ meeting"

The organization of the petroleum exporting countries and allies including Russia, a group known as 'OPEC+', pumps around 40% of the world's crude. On 04.06.2023, the group agreed that in addition to extending the existing OPEC+ cuts of 3.66 million barrels per day, the group will further reduce output by 1.4 million barrel per day. 

Additional cuts from the group could drive tensions with leading consuming nations that are trying to fight inflation. Washington called the group's action in April inadvisable. The west has repeatedly criticized OPEC for manipulating prices and siding with Russia despite the war in Ukraine. 

India won't be affected by current cuts from group as India is importing around 42% of total imports from Russia alone, with discounted prices. OPEC's share in India's oil imports fell to an all time low of 39% in May due to higher imports from Russia. Before Ukraine war, India was importing just around 2% of total imports from Russia. 

3. "Highlights of events today"

• Indian defence minister and German defence minister hold meeting in Delhi.

• Indian president in Suriname.

• EAM Jaishankar in Namibia.

• Algeria, Sierra Leone, Guyana, Slovenia and South Korea elected as non - permanent members of UNSC for 2024 - 25 term. 

1. "Iran - Taliban water conflict"

Last week, deadly clashes broke out between Afghan and Iranian guards at their borders raising fears of a new conflict.

Both sides have accused each other of initiating the shooting in which at least 2 Iranian and 1 Afghan guard were killed.   However, they have issued measured statements aimed at de - escalating the situation.

Despite a treaty in place since 1973 on sharing of Helmand river waters, the 2 sides have wrangled for decades. The river flows from Afghanistan towards western Iran.

2. "Highlights of events today"

• US defence secretary in Delhi.

• Indian Naval Ship Satpura in Indonesia to participate in the Multilateral Naval Exercise. 

• India, Namibia holds 1st joint commission meet.

• Indian, Bangladesh army chiefs in Dhaka.

• Indian, Surinamese president hold talks.

• German defence minister arrives in Delhi.

1. "Events this week"

• Indian president on visit to Suriname, Serbia.

• US Defence Secretary and German Defence minister to visit India.

• EAM Jaishankar travels to Namibia.

• MoS MEA Muraleedharan on visit to Maldives.

• Indian Ambassador to Turkiye will represent India at Erdogan's inauguration ceremony (on 03.06.2023)

1. "India and Nepal sign 7 agreements"

PM Pushpa Kamal Dahal of Nepal arrived in New Delhi for a 4 day visit on 31.05.2023. He took office of PM in December'2022, met PM Modi on 01.06.2023 for talks that focused on co - operation in energy, trade and connectivity. 

Following projects were launched:

• Handing over of Kurtha - Bijalpura section of railway line.

• Inaugural rub of an Indian railway cargo train from Bathnaha (India) to Nepal Customs Yard.

• Inauguration of Integrated checkposts.

•  Ground breaking ceremony of phase - II facilities under Motihari - Amlekhgunj petroleum pipeline. 

Following 7 agreements signed"

• Treaty of transit.

• MoU for co - operation in the field of Petroleum Infrastructure.

• MoU between Sushma Swaraj Institute of Foreign Service and the institute of Foreign Affairs, Nepal.

• MoU for the development of Infrastructure at Dodhara Chandani check post alon Indo - Nepal Border.

• Project Development Agreement of Lower Arun Hydroelectric Project.

• MoU for the development of Phukot Karnali Hydroelectric Project.

• MoU for cross border payments.

2. "Highlights of events today"

• Meeting of friends of BRICS foreign ministers, EAM Jaishankar at the meet in South Africa.

• Nepal PM in Ujjain, visits Mahakaleshwar temple.

• Shangri - La dailogue in Singapore, India to be represented by Deputy NSA Vikram Misri.

• Pakistan is releasing 200 Indian fisherman and 3 civilian prisoners. Earlier, 198 Indian fisherman were repatriated on 12.05.2023.

1. "World's largest food storage scheme"

The government will bring a policy for world's largest food grain storage scheme under the co-operative societies sector. The government will make an allocation of approximately INR 1 lac crore towards it. Under the scheme, a godown of a capacity of 2,000 tones will be constructed in every block. 

Currently, the grain storage capacity in the country is about 1,450 lac tone. The programme aims to raise India's food grain storage capacity by 700 lac tone in the cooperative sector. India produces about 3,100 lac tone of foodgrain a year. Current facilities can store only up to 47% of the produce.

Earlier, farmers at times had to sell their wares in a hurried manner owing to climate related vagaries. They had no option but to sell their produces at the market levels because of storage issues. The new move will save farmers from these situations as storage facility will be available so they can wait for expected levels and than release their produces. Apart from storing their produce in the facilities, they will also be able to get up to 70% loans from these societies. 

2. "Highlights of events today"

• Nepal PM Prachanda's India visit as he holds talks with PM Modi in Delhi, 7 agreements exchanged. Treaty of transit revised.

• EAM Jaishankar in South Africa for BRICS FMs meet.

• MoS MEA V. Muraleedharan in Malaysia.

• EAM Jaishankar meets Russian FM Lavrov and Saudi Arabia's FM in Cape Town, South Africa on the sidelines of BRICS FMs meet. Saudi is not a member of the group, has expressed interest in joining the group.

• 9 Indians in custody of Libyan rebels released. 

1. "Yet another humiliation for failed nation - Pakistan"

Nation is facing severe cash crunch and in an yet another embarrassing situation, its national carrier's plane has been seized in Malaysia over non-payments. The Boeing 777 was acquired by Pakistan International Airlines (PIA) on lease on Malaysia. 

This is not the 1st shameful incident for the nation, just over 2 years ago, on January'2021, the aircraft could not operate the scheduled flight service after Malaysian authorities conducted a seizure. At that time, the local authorities confirmed that they were given orders from a Malaysian court to seize the Boeing 777 over Pakistan International Airlines non - payment of aircraft lease dues. 

2. "India's GDP growth in FY 23 pegged at 7.2%"

The NSO released the GDP growth for the 4th quarter of fiscal year 2022 - 23, along with the growth rate clocked during FY 23. Quarter 4th GDP grew by 6.1% and For the entire FY 23, growth rate came in at 7.2%. The numbers are surprising as quarter 4th economic growth was predicted in a range of 4.1% to 5.7%. 

While GDP shows data from demand side, GVA - which shows data from supply side, grew by 7% for FY 23. 

GDP growth for FY 2023 - 24 is projected at 6.5%.

"On one side it is India and on the other side it is Pakistan. But no comparison can be made between 2 nations, as we've reached Moon and failed nation still eyes on Kashmir after 75 years of failed attempts."

1. "40 terrorists killed in Manipur"

In a coordinated security operation in Manipur's Imphal valley in the past 4 days, atleast 40 kuki militants have been killed on 28.05.2023, hours after 4 civilians and a security official were killed in a fresh clashes in the violence hit state.  

The Kuki-Zomi movement started as defence against aggression by other groups, nut quickly morphed into a call for Kukiland - an imagined country spreading across India, Myanmar and Bangladesh. Over time, this was diluted to simply a call for a separate state.   

2. "Highlights of events today"

• South Africa grants immunity to President Putin from any impact due to ICC arrest warrants. Issues key order ahead of BRICS Foreign & Summit level meetings.

• Indian President and PM welcomes King of Cambodia at Rashtrapati bhavan. The king is on a 3 day India visit.

• Credit facility of USD 1 billion by India to Sri Lanka, available for use till March'24. 

1. "Highlights of events Today"

• India - Saudi Arabia hold bilateral maritime exercise Al Mohed Al Hindi 23.

• US Congresswoman introduces legislation to make Diwali a federal holiday in the country.

• New parliament complex gets inaugurated in India.

• Indian Defence minister Rajnath Singh left for a 3 day visit to Nigeria, he'll represent India at the swearing - in - ceremony of Nigeria's President - elect Bola Ahmed Tinubu.  

2. "Highlights of events this week"

• King of Cambodia on India visit.

• Nepal PM on India visit.

• EAM Jaishankar on South Africa visit to attend BRICS FMs meet.

• UK's Minister of State for South Asia on India visit. 

1. "India's largest High Court inaugurated in Jharkhand"

On 24.05.2023, President Droupadi Murmu inaugurated new Jharkhand High Court Complex. The new Jharkhand HC was 1st conceptualized in 2013, but work only started in 2015. Around 60% of the work was completed in the last 2 years, with over INR 550 crore spent on its construction. 

2. "US select committee recommends India to be part of NATO+"

It's been more than a year since Ukraine - Russia war, and not to forget NATO is the main cause, if not the only cause of the ongoing war. In an another attempt of provocation, Congressional committee on CCP (China) in the USA has recommended India to be a part of NATO+. The decision to add India as a member country comes just ahead of PM Modi's visit to US.

NATO is a political and military alliance, which was established to counter USSR - which today doesn't exist. It has 31 members, with latest addition of Finland as a member in 2023 - yet in an another attempt to provoke Russia.

NATO+ currently has 5 members - Australia, New Zealand, Japan, Israel and South Korea. 

1. "Candidates with same name claim UPSC Rank"

This year's result came as a shocker for 2 UPSC candidates.

In the 1st case, 2 female having same name - Ayasha from Dewas & Alirajpur district of Madhya Pradesh, having same roll number on their admit cards, claimed 184th rank in the exam. 

In the 2nd case, 2 male having same name - Tushar Kumar, one from Haryana and other from Bihar, having same roll number on their admit cards, claimed 44th rank in the exam.

UPSC on 26.05.2023 issued a statement through press release saying, 'The claims of both persons are fake. They have forged the documents in their favour to buttress their claims'. 

The statement identified genuine candidates as Ayasha from Dewas district and Tushar Kumar from Bihar.

The statement also stated that, UPSC is contemplating both criminal as well as disciplinary penal action against both candidates for their fraudulent acts.

2. "Highlights of events today"

• UAE's Diplomatic community tours BAPS Hindu Temple in Abu Dhabi, set to be completed by February'2024.

• India, US hold inaugural US - India Advanced Domains Defence Dialogue in Delhi.

• Indian UN peacekeepers Shishupal Singh and Sanwala Ram Vishnoi, who died in the congo crisis last year, honoured with the top UN award.

• 2nd meet of task force on India's rights under Indus water treaty takes place in Srinagar.

1. "RBI turns net seller of USD in FY 2023"

After remaining a net buyer for 3 consecutive years, RBI became a net seller of USD in FY 2023. It sold USD 25.52 billion on a net basis in the spot foreign exchange market. The Russia - Ukraine conflict resulted in central banks increasing their foreign reserves, which in turn increased the value of USD in global market, the sale of USD by the RBI was aimed to curb the volatility in the INR, which depreciated by almost INR 6 to 82 levels against the USD as on 31.03.2023, from 76 as on 01.04.2022.

During the previous fiscal, higher import bills due to surge in oil prices after Ukraine war has put pressure on domestic currency. The INR also declined as foreign investors pulled out money from the domestic market after the US Federal Reserve raised interest rates to check inflation. 

According to CR forex advisor's MD and founder Amit Pabari, if the RBI had not sold USD in FY 2023, INR would have depreciated to 84-85 levels against the USD.

2. "Amazon to invest INR 1 trillion in cloud infrastructure in India"

Amazon web service last week announced plans to invest USD 12.7 billion in cloud infrastructure in India by 2030. The planned investment in data centre infrastructure in India will support an estimated average of 1,31,700  full time equivalent jobs in Indian businesses each year, Amazon's cloud computing unit said in a statement.

The plan follows AWS investment of INR 30,900 crore between 2016 - 2022, which will bring total investment in India to INR 1,36,500 crore by 2030. Currently the company has 2 data centre infrastructure regions in India - AWS Asia Pacific (Mumbai) Region launched in 2016 and AWS Asia Pacific (Hyderabad) Region launched in 2022. More than INR 30,900 crore is invested in AWS Asia Pacific (Mumbai) Region between 2016 - 2022.  

1. "Opposition parties to boycott new Parliament building's inauguration"

19 opposition parties, including Congress and AAP to boycott the inauguration of new parliament building in Delhi by PM Modi on 28.05.2023. 

Congress president Kharge said the President represents 'the government, opposition and every citizen alike', she should be the one to inaugurate the new Parliament building. 

Union minister Hardeep Singh Puri recalled that Indira Gandhi and Rajiv Gandhi were PM when they inaugurated the parliament annexe and parliament library in 1975 and 1987 respectively. 

Parties will keep spitting venom against each other, but general public would like to see all parties together on such a big day. 

2. "Bangladesh's Fuel Crisis"

State is struggling to pay for imported fuel because of dollar shortage, letters from the state petroleum firm show, with it warning of an 'alarming decrease' in fuel reserves. 

The country is already grappling with power cuts that have hurt its exports - oriented garments industry. Separately, the body responsible for generating electricity and distribution also warned it had to delay payments due to currency crunch.

BPC, which controls the import and marketing of fuel in the country, has asked the government to permit domestic commercial banks to settle money owed to India in INR. In September, State Bank of India had asked exporters to avoid settling deals with Bangladesh in $ an other major currencies as its reserves fell, favouring instead the Taka and INR currencies.

1. "26/11 type attack exposed at Srinagar G20 meet"

Jammu & Kashmir has turned into a security fortress, as it hosts the 3rd Tourism Working Group meeting at G20 in Srinagar. Marine commandos and NSG have been deployed in the region. 

Security has been further tightened after a 26/11 type terror attack was reportedly exposed following revelations by a detained overground worker (OGW). OGW provide terrorists with logistical support, cash and shelter among other things to carry out their operations. 

Terrorist organizations has conspired to attack Gulmarg at the behest of Pakistani spy agency, the ISI. The OGW working in a plush hotel reportedly divulged details about the planned terror strike similar to the attacks in Mumbai on 26.11.2008. OGW was arrested in last week of April and was associated with pakistan based terror outfit JEM and was in contact with ISI officials. Plan was to carry out a series of attacks targeting 2 or 3 places during G20 meeting in Kashmir.

2. "Adani group stocks rise post SC panel report"

Gautam Adani's flagship entity Adani enterprise ended with gains of 19% on 22.05.2023, making the best performance since the Hindenburg report was published in January. The 10 Adani stocks added about INR 80,000 crore to their market value. 

The sentiment toward the conglomerate has changed markedly from a week ago, when worries over the exclusion of some Adani stocks from MSCI Inc. indexes and potential equity dilution from fundraising plans by 2 companies renewed a selloff. The market value erosion for the 10 companies since Hindenburg report - which at one point crossed $ 150 billion - currently stands at about $ 100 billion.

Shares of most Adani Group companies rose after the Supreme Court released the investigation report on 19.05.2023, submitted by the panel on the Hindenburg case. The initial investigation hasn't yet found any evidence of wrongdoing by the Group. The panel was appointed by Supreme Court and was headed by former Supreme Court judge. 

1. "Highlights of events today"

• PM Modi calls on Governor of Papua New Guinea.

• PM Modi addresses the 3rd India Pacific forum meeting in Papua New Guinea. Earlier it was held in year 2014 and 2015.

• Fiji honour's PM Modi with the highest honour of the country - Companion of the Order of Fiji.

• Singapore attends the G20 meeting in Srinagar. 

• New Zealand PM makes special trip to Papua New Guinea solely to meet PM Modi. 

• PM Modi visits Sydney, Australia, as a part of final leg of trip.

1. "With 145 moons, Saturn beats Jupiter"

For years, Saturn was the planet with the most moons. But it was dethroned as the 'moon king' in February this year after astronomers discovered 12 new moons around gas giant Jupiter, which took it's total tally of it's moons to 95. 

But now, a team of space scientists has discovered 62 new moons of Saturn, taking the official tally to 145. Learning more about the new moons is difficult owning to their small size and remote orbit. They appear to be a special class of object, different from asteroids that formed in the inner solar system and comets in the outer solar systems. But not much more is known. 

2. "RBI withdraws INR 2,000 note from circulation"

RBI has decided to withdraw INR 2,000 from circulation but they will continue to remain as legal tender.

It has advised banks to stop issuing INR 2,000 denomination banknotes with immediate effect. The banknote was introduced in November'2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all INR 500 and INR 1,000 banknotes in circulation at that time. 

RBI said, 'The objective of introducing INR 2,000 banknotes were met once banknotes in other denominations became available in adequate quantities. The printing of notes was stopped in 2018-19'

The total value of these banknotes in circulation has declined from INR 6.73 lac crore at its peak in 31.03.2018 (37.3% of notes in circulation) to INR 3.62 lac crore constituting only 10.8% of notes in circulation on 31.03.2023. 

If you still have INR 2,000 notes, you are left with following options:

• Deposit banknotes into bank account in usual manner, that is, without restriction.

• Exchange of notes into banknotes of other denominations upto a limit of INR 20,000 i.e. 10 notes at a time at any bank starting from 23.05.2023 till 30.09.2023.

1. "SBI posts record profit but shares fall"

The net profit of SBI is INR 50,232 crore during the financial year ended 31.03.2023, a rise of 59% from the previous year. The bank hiked dividend to INR 11.30 per share as against INR 7.10 last year.

Despite posting better profits, the bank's share closed -1.77% at INR 576.10 on BSE on 18.03.2023. The market was expecting SBI to post record profits. The shares fall as there was a profit booking after the results announcement.

SBI Chairman Dinesh Khara said the reason for better performance is the improvement in asset quality of the bank. NPA's declined to INR 90,928 crore in March'2023 from INR 112,023 crore. Gross NPA's are at 10 year low.

2. "PM Modi to attend G7 in Hiroshima"

Leaders of 'so-called' 7 of the most powerful democracies will gather this weekend for the G7 summit in Hiroshima, the location of the world's 1st atomic attack at the end of World War II, by one of the member of G7 itself i.e. USA. 

From the emergence of crucial developing countries to security worries, including growing aggression from China, North Korea and Russia are some of the key issues.  

PM Modi is headed to Hiroshima for G7 summit on 19.05.2023 - the first visit to Japanese city by an Indian PM since India conducted nuclear tests in Pokhran in 1974. Modi's presence at Hiroshima is significant since India is one of the few countries which has not signed the Nuclear Non-Proliferation Treaty. 

1. "Reliance Jio new premium diesel at low price"

Jio-BP, the retail joint venture of Reliance and BP, is set to sell diesel mixed with detergents and dispersants which will be 1 rupee cheaper per litre than diesel sold by state run oil marketing companies like IOC, HPCL and BPCL.

In 2019, BP and Reliance announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML). BP has paid RIL $ 1 billion for 49% stake in the joint venture, with RIL holding 51%. 

Jio-BP announced launch of its diesel with ACTIVE technology, set to elevate diesel standards for Indian consumers. This will yield annual savings up to INR 1.1 lac per vehicle to truckers owing to 4.3% improved fuel economy. ACTIVE technology help to reduce the risk of unscheduled maintenance caused by dirt build up and removes existing dirt from critical engine parts and protects against its build up with ongoing use.    

2. "Australia cancels QUAD meeting in Sydney"

PM Modi will visit Japan, Papua New Guinea and Australia from May'19 to May'24. Quad meeting was scheduled in PM Modi's final leg of trip to Sydney from May'22 to May'24. 

But with a looming domestic political and economic crisis at home and negotiations with US Congress (parliament) over debt ceiling hitting a roadblock, President Joe Biden has said that he'll return to Washington DC after attending the G7 summit in Japan and not travel to Australia for the Quad leaders level summit. Biden has also cancelled the Papua New Guinea leg of his trip. 

The US has hit its debt ceiling of $ 31.4 trillion on january'19 and  since then, the Treasury department has resorted to extraordinary measures. On June'1, unless the Congress (parliament) raises the debt limit or suspends it, the US is at risk of defaulting on its credit, a move that will jolt the markets and create an unprecedented economic crisis both at home and abroad.

1. "Government launches tracking system for lost or stolen mobile phones"

Indian government is set to launch a new mobile tracking system on 17.05.2023, which will allow individuals to block and track their lost or stolen mobile phones throughout the country. Pilot projects of this system has been running in some of the telecom circles, including Delhi, Maharashtra, Karnataka and North East region, and now the system is ready for pan-India deployment. Under the pilot project, Karnataka police recovered 2,500 mobile phones, blocked 4,70,000 mobile phones and helped to track 2,40,000 mobile phones.

System works on the basis of IMEI number. It is mandatory to disclose the 15 digit unique IMEI number before their sale in India. As a result, the mobile networks will have access to list of approved IMEI numbers which will check the entry of any unauthorized mobile phones on their network.  

Person whose mobile phone is lost or stolen can complain online on CEIR portal after lodging a police complaint, he / she can check the status of request to block a lost / stolen phone, and they can also unblock the device, once it has been found. IMEI number can  be checked by dialing *#06#. Those buying used phones should check IMEI status by dialing the same and if the status shows 'blacklisted', such phones should not be bought. 

As of now, you should dial *#06# and save your IMEI number. 

2. "West Bengal Teacher recruitment scam"

The Calcutta High Court on 12.05.2023 cancelled the appointment of 36,000 primary school teachers who cleared the state's teacher eligibility test in 2014 and were recruited in 2016. These Teachers were not having the requisite training certificate as required before recruitment and many got selected without taking an aptitude test, though some got the training after being recruited. 

HC issued directions to the West Bengal Board of Primary Education to arrange a fresh recruitment exercise within 3 months for candidates, 'who were untrained at the time of recruitment'. The court said that during that exercise, 'both interview and aptitude test of all examinees shall be taken and the whole interview process has to be videographed carefully and preserved, no new candidate shall be allowed to take part in the recruitment test' 

1. "Rising share of small cities in mutual funds assets"

The 100% jump in Sensex over the past 3 years, between 31.03.2020 and 31.03.2023, witnessed some big changes across country, especially in terms of investor behaviour and investor outlook toward equity. In this 3 year period, number of demat accounts jumped 2.8 times to over 11.44 crore, the number of SIP accounts doubled from 3.11 crore to 6.28 crore and monthly SIP contributions rose from around INR 8,500 crore to over INR 14,000 crore.

Small cities are categorized as 'Other cities' by Association of Mutual Funds, these are a group that fall beyond the top 110 cities across country (in terms of contribution to the Industry AUM). These cities account for 17.44% of the Industry AUM, i.e. INR 6.87 lac crore out of aggregate industry AUM of INR 39.42 lac crore, as of 31.03.2023. Their share has risen sharply from 10.99% in March, 2020 and from a low of just 2.55% in June, 2014.

2. "Government bans import of 928 defence items"

A fresh list of 928 military items is announced, including line replacement units, sub-systems and spares, that will come under a phased import ban between December'2023 and December'2029. It covers items used in fighter planes, trainer aircraft, warships and different types of ammunition. 

This is the 4th 'positive indigenization list' of 'strategically important' components used by defence public sector undertakings, placed under ban over last 2 years. The previous list were published in December'2021, March'2022 and August'2022.

The items included in the new list have an import substitution value of INR 715 crore. These items will only be procured from Indian Industry after prescribed timelines.  

1. "India's biggest drug bust"

At least 2,500 kg drugs, suspected to be methamphetamine and estimated to be around of INR 12,000 crore, were seized from a large vessel near the Kerala coast in a joint operation by NCB and Indian Navy. A Pakistani national, who tried to flee, was detained in connection with the drug bust after the vessel was intercepted in Indian waters in the Indian ocean.

Methamphetamine is a potent central nervous system stimulant that is mainly used as a recreational drug and less commonly as a second line treatment for attention deficit hyperactivity disorder and obesity. But no benefits justify the regular consumption of these type of substances.

NCBs deputy director general said that the case was busted as a part of 'Operation Samudragupt', launched in January, 2022. The primary objective of the operation was to collect actionable inputs which could lead to interception of ships carrying narcotics contraband. 

2. "Turkey election 2023"

In the 100th year of its republic and 20th year of Erdogan's being in power, Turkey goes to poll Today (14.05.2023). Opinion polls have given the opposition camp a slight lead  over the President. Yet, Erdogan with the might of the state's resources and the media behind him, cannot be written off.

The President is elected in direct voting and the candidate to cross the 50% mark will win. If no candidate reached that figure, there'll be a runoff election on the second Sunday (21.05.2023). In the runoff, only the top 2 candidates of the first ballot will contest, and the one with more votes will become president.

Kemal is the chairman of Turkey's main opposition party, which was founded by Ataturk (Pasha). A retired civil servant, he has emerged as Erdogan's primary challenger. He's referred to as 'Gandhi Kemal' by the Turkish media due to his apparent physical resemblance to Gandhi.   

Turkey matters to the world because of its location. It shares a border with Syria and Iraq, is separated from Russia and Ukraine by the Black Sea, and is surrounded by the Mediterranean Sea and Aegean Sea. It controls the Bosphorus strait, which is the only passage for Russia and Ukraine, among other countries, to access Mediterranean Sea and thus most of world through water.

1. "Congress wins Karnataka Elections"

The Karnataka Assembly comprises 224 seats with 113 seats needed to form a majority. CM Bommai has conceded defeat saying, 'despite best efforts by PM, cadres, we were not up to mark'.

Since 1985, Karnataka has voted against the incumbent government every single time, with the exception of 2004 and 2018, where congress managed to form the government with the help of a coalition with the JD (S). No party has been a part of the Karnataka government for 2 consecutive terms.

Congress has gained around 5% in terms of vote share compared to 2018 and on the other hand JD (S) has witnessed a negative 5% swing. BJP's vote share remains approximately the same compared to 2018 at 36%.  

2. "Allahabad HC orders carbon dating of 'Shivling' at Gyanvapi"

HC on 12.05.2023 allowed Archeological Survey of India to conduct carbon dating of what Hindu religious groups have claimed a 'Shivling' inside the Gyanvapi mosque. It set aside an October 14 order of the Varanasi District Court that rejected a plea for scientific investigation, including carbon dating. 

1. "Chinese owned MG Motor to sell majority stake in India"

Founded in 1924, its ownership has changed multiple times and is currently owned by a Chinese government company - SAIC Motor Corporation Limited. MG Motor is looking to sell its majority stake in India car business and is in 'advanced negotiations' for equity sale with a clutch of suitors that includes - Reliance, Hero, Premji invest and JSW group.

MG Motor India CEO said that the intention is to 'Indianize operations' by diluting majority stake to financial institutions, partners and high net-worth individuals in the country. The first step of the process is likely to be finalized in this financial year.

MG Motor India company had a good start with the launch of its first product in 2019. However, the plans to expand footprint in the country hit a roadblock with the government holding onto approvals on investments from China amid geopolitical tensions.

2. "SC upholds power of Delhi government over services"

Drawing the curtains on an eight year long battle between the Delhi government and the Centre, the SC on 11.05.2023 ruled that the Delhi government has legislative and executive powers over administrative services in national capital. 

In 2015, a Union Home Ministry notification said that the Lieutenant Governor of Delhi shall exercise control over 'services'. The Delhi government challenged this before the Delhi High Court, which in 2017 upheld the notification. On appeal, a 2 judge bench of the SC referred the issue to a larger constitutional bench. 

1. "USA invites India for state visit after 14 years"

The last state visit to the US was by then PM Manmohan Singh from 23.11.2009 to 25.11.2009. PM Modi will travel US for an official state visit from 21.06.2023 to 24.06.2023, where he will be hosted by US president Joe Biden at the White House. 

While PM Modi has visited the US multiple times during his tenure, none of the visits were categorized as a state visit, which is the highest ranked visit according to diplomatic protocol. State visit are officially described as 'visit of state' rather than 'visit of leader'. State visit to US occurs only on the invitation of the President of US, acting in their capacity as the 'head of state'.  

2. "EU bans India's 6 settlement bodies"

The European Securities and Markets Authority (ESMA), has derecognized 6 Indian central counterparties (CCPs) from 30.04.2023. As per European Market Infrastructure Regulations (EMIR), a CCP in a third country can provide clearing services to European banks only if it is recognized by ESMA.

6 CCPs includes NSE clearing ltd, IFSC ltd, CCIL, ICCl, MCXCCL and NICCL. CCPs perform 2 main functions as the intermediary in a market transaction:

• Clearing and settlement.

• Guarantee the terms of trade.

A CCP is authorized by the RBI to operate in India. ESMA asked the CCPs in India to be revied by ESMA, knowing the fact that Indian regulators have a watch on CCPs in India. Last year in December, RBI Governor asserted that foreign regulators should trust the credibility of Indian regulations. The decision to derecognize Indian CCPs came due to 'no cooperation arrangements' between ESMA and Indian regulators - RBI, SEBI and IFSCA.

1. "Civil war like situation in Pakistan"

The Islamabad High Court ruled former PM Imran Khan's arrest legal, hours after he was arrested by the Pakistani rangers (army) from outside the court premises on 09.05.2023. Imran Khan was arrested in Al Qadir trust case. 

Following the arrest, supporters of Imran Khan started protest across nation, entered compounds of army commanders in Lahore and Rawalpindi. Perhaps for the 1st time, observers say, civilians are up against the army - an institution considered above and beyond everything in Pakistan.

The former PM, along with his wife and other PTI leaders are facing a NAB inquiry, for allegedly accepting PKR 5 billion and hundreds of kanals (land) from a Islamabad based real estate company, in exchange of protecting firm in a money laundering case. 

Failed nation still eyes on Kashmir.  

2. "Israel strikes Gaza"

Israel air strikes in Gaza strip have killed 13 Palestinians. 3 of them were commanders of militant group 'Islamic Jihad', and rest were family members of militant commanders. This is perhaps the single deadliest Israeli attact over the last year. The number of Palestinians killed in Israel raids in this year alone has now surpassed 100.

Most of Israeli attacks over last few months have focused on the West bank, but since 02.05.2023, Israel conducted strikes in Gaza in response to a barrage of rockets fired from the strip. 

'Islamic Jihad', which has highest number of fighters in Gaza after 'Hamas', has sworn revenge for the Israeli attacks. Tensions could escalate more if Hamas decides to back the Islamic Jihad. A strong cycle of violence in the region could follow. 

1. "RBI’s hoard of gold now almost 800 tones"

RBI's gold reserves touched 794.64 metric tones in fiscal 2023, an increase of nearly 5% over fiscal 2022, when it held 760.42 metric tone. In its half yearly report on Management of Foreign Exchange Reserves: October 2022 - March 2023, released on 08.05.2023, RBI said 437.22 tones of gold is held overseas with Bank of England and Bank of International Settlements, and 301.10 tones of gold is held domestically.

As per the report, Foreign reserves stood at USD 588 billion as of 28.04.2023, out of which USD 45 billion is held as gold. Central Banks around the world has been increasing gold reserves considering it more safe, secure and liquid asset. In calendar year 2022, central banks around the world purchased 1,136 tones of gold, which was a record high. 

2. "Highlights of events today"

• Israel foreign minister arrives in India, hold meeting with EAM Jaishankar, Defence minister Rajnath Singh and PM Modi. Cut shorts his 3 days visit due to 'security situation' in his country.

• Former Pakistan PM Imran Khan arrested.

• Europe day celebrated in Delhi.

• India - EU hold key strategic Partnership review meeting ahead of Trade and Tech council meet next week in Brussels.

• 1 Indian died and 2 others injured in Texas mall shooting.