Beepedia Monthly Current Affairs (Beepedia) June 2023

Monthly BeePedia
June 2023
INDEX
RBI, Banking and Economy ___________________________________________ 2
SEBI and Financial Awareness _________________________________________65
NABARD and Agriculture ___________________________________________ 74
National __________________________________________________________ 81
International _____________________________________________________ 95
States____________________________________________________________ 104
Reports and Indexes _______________________________________________ 115
Science and Technology ___________________________________________ 131
Defence __________________________________________________________ 140
Events ___________________________________________________________ 148
Awards & Rewards ___________________________________________________156
Appointments _____________________________________________________ 163
Important Days ___________________________________________________ 168
Obituaries_________________________________________________________ 169
Books ___________________________________________________________ 170
Sports ___________________________________________________________ 172

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Monthly BeePedia
June 2023
RBI, Banking and Economy

Repo rate unchanged at 6.5%, RBI cuts FY24 inflation projection
 Reserve Bank of India Governor Shaktikanta Das-headed Monetary Policy Committee has decided
not to raise the repo rate, keeping it at 6.5%.
 The RBI MPC maintained the withdrawal of accommodation stance.
 The committee also kept the gross domestic product (GDP) growth projection for FY24 unchanged at
6.5 per cent. The projection for the first quarter (Q1) has been kept at 8 per cent, Q2 at 6.5 per cent,
Q3 at 6 per cent and Q4 at 5.7 per cent.
 Moreover, the MPC decided to lower the inflation projection for 2023-24 (FY24) to 5.1 per cent from
5.2 per cent earlier. The inflation is expected to remain above 5 per cent throughout FY24.
Learn Along:
RBI Headquarters: Mumbai Governor: Shaktikanta Das
Deputy Governors: MK Jain, MD Patra, M
Rajeshwar Rao and T. Rabi Sankar
The MPC is a statutory committee that fixes the key policy interest rates and monetary policy stance of the country
as well as the inflation target. The MPC comprises three external members and three members from the RBI. The
RBI Governor heads the MPC.
Repo Rate & Reverse Repo Rate-The interest rate that the RBI charges when commercial banks borrow money
from it is called the repo rate. The interest rate that the RBI pays commercial banks when they park their excess
cash with the central bank is called the reverse repo rate.

Monthly BeePedia
June 2023
Marginal standing facility (MSF) is a window for banks to borrow from the Reserve Bank of India in an emergency
situation when inter-bank liquidity dries up completely. Under MSF, banks can borrow funds from the RBI by pledging
government securities. RBI charges higher interest rate over and above the repo rate.
The Standing Deposit Facility allows the RBI to absorb excess cash from the economy by sucking liquidity from
commercial banks without giving government securities in return to the lenders. Under the SDF, the banks can place
deposits with the RBI on an overnight basis. The RBI, however, retains the flexibility to absorb liquidity for longer
tenors under the SDF with appropriate pricing, as and when the need arises. All liquidity adjustment facility (LAF)
participants will be eligible to participate in the SDF scheme.
Gross domestic product or GDP is a monetary measure of the market value of all the final goods and services
produced in a specific time period.
RBI releases the Financial Stability Report, June 2023*
 The Reserve Bank released the 27th issue of the Financial Stability Report (FSR), which reflects the
collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC)
on risks to financial stability and the resilience of the Indian financial system.
 The highlights of the report are as follows-
o The global economy is facing heightened uncertainty amidst banking system fragility in certain
countries, persisting geopolitical tensions and moderating but elevated inflation.
o Despite global headwinds, the Indian economy and the domestic financial system remain resilient,
supported by strong macroeconomic fundamentals.
o Continuing growth momentum, moderating inflation, narrowing current account deficit and rising
foreign exchange reserves, ongoing fiscal consolidation and a robust financial system are setting
the economy on a path of sustained growth.
o Healthy balance sheets of banks and corporates are engendering a new credit and investment
cycle and brightening the prospects of the Indian economy.
o The capital to risk-weighted assets ratio (CRAR) and the common equity tier 1 (CET1) ratio of
scheduled commercial banks (SCBs) rose to historical highs of 17.1 per cent and 13.9 per cent,
respectively, in March 2023.
o SCBs’ gross non-performing assets (GNPA) ratio continued its downtrend and fell to a 10-year low
of 3.9 percent in March 2023 and the net non-performing assets (NNPA) ratio declined to 1.0 per
cent.
o Macro stress tests for credit risk reveal that SCBs would be able to comply with the minimum
capital requirements even under severe stress scenarios.
o The system-level capital to risk-weighted assets ratio (CRAR) in March 2024, under baseline,
medium and severe stress scenarios, is projected at 16.1 per cent, 14.7 per cent and 13.3 per cent,
respectively.
*(The detailed version of the FSR report will be released soon)

Learn Along:
Capital to Risk (Weighted) Assets Ratio (CRAR) is also known as Capital adequacy Ratio, the ratio of a bank's
capital to its risk. The RBI tracks a bank's CAR to ensure that the bank can absorb a reasonable amount of loss and
complies with statutory Capital requirements.

Monthly BeePedia
June 2023
A non-performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue
for a period of 90 days. Banks are required to classify NPAs further into Substandard, Doubtful and Loss assets.
RBI Governor launches financial inclusion dashboard 'Antardrishti'
 RBI Governor Shaktikanta Das has launched a financial inclusion dashboard named 'Antardrishti'.
 The dashboard would, as its name suggests, provide the necessary knowledge to evaluate and track
the development of financial inclusion by recording relevant data.
 This tool will also make it possible to assess the degree of financial exclusion at a local level across
the nation so that such places may be addressed.
 The dashboard, presently intended for internal use in the RBI, will further facilitate greater financial
inclusion through a multi-stakeholder approach.
Learn Along:
Financial inclusion means that individuals and businesses have access to useful and affordable financial products
and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible
and sustainable way.
RBI announces draft cyber security norms for payment system operators
 In a move to ensure safety and security of digital payments amid emerging cyber risks, the Reserve
Bank of India (RBI) has announced draft regulations for payment system operators (PSOs).
 It proposed that such norms would be implemented from April 1, 2024, for large non-bank-PSOs.
 For medium-sized non-bank PSOs, the deadline for implementing the regulation will be April 1, 2026,
and for smaller ones, it’s April 1, 2028.
 The draft directions issued by the regulator covers robust governance mechanisms for identification,
assessment, monitoring, and management of cyber security risks.
 The directions will also cover baseline security measures for ensuring system resiliency as well as
safe and secure digital payment transactions
 According to the draft norms, the PSO will define appropriate key risk indicators (KRIs) to identify
potential risk events and key performance indicators (KPIs) to assess the effectiveness of security
controls.
Learn Along:
A payment system operator means a legal entity responsible for operating a payment system. The PSO provides
services by operating on certain models. They largely outsource their payment and settlement-related activities to
various other entities. Examples of PSOs include Google Pay, Amazon Pay, NPCI, Paytm etc.
RBI permits banking units at IFSC to settle NDDCs in rupee
 The Reserve Bank of India has permitted banks operating International Financial Services Centre
(IFSC) to offer non-deliverable derivatives contracts utilising rupees to resident non-retail users for
hedging.
 The step has been taken in order to develop the onshore rupee non-deliverable derivatives contract
market and to provide residents with the flexibility to efficiently plan their hedging activities.
 The newly-permitted transactions will be cash-settled in rupees and shall have the flexibility of cash
settlement between two relevant banks and between a bank and a person residing outside India in
rupees or any foreign currency.

Monthly BeePedia
June 2023
Learn Along:
IFSCA was established on April 27, 2020 with head office in Gandhinagar with an objective to develop the financial
products and services in the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC).
IFSCA Headquarters: Gandhinagar, Gujarat Chairperson– Injeti Srinivas
An non-deliverable derivatives contracts (NDF) is a foreign exchange derivative contract, which allows investors to
trade in non-or partially convertible currencies (Indian rupee, for example), with contract settlement in a convertible
currency (the US dollar, for example) in an offshore currency market (a location that is outside a trader’s home country).
NDFs trade typically outside of the jurisdiction of the home currency, enabling investors to transact outside the
regulatory regime of the home market.
RBI opens TReDS for All Players in Factoring, Insurers
 The Reserve Bank of India has allowed more participants on the Trade Receivables Discounting
System (TReDS) platform to improve access to funds for micro, small and medium enterprises
(MSMEs).
 The central bank has permitted all institutions that undertake factoring business to participate as
financiers in TReDS.
 The regulator also allowed taking insurance cover for invoicing facilities on the TReDS platform
which would aid financiers to hedge default risks.
 Accordingly, insurance companies are permitted as the “fourth participant” in TReDS, besides MSME
sellers, buyers and financiers. The insurance facility is likely to encourage discounting of payables of
buyers irrespective of their credit ratings.
Learn Along:
TReDS is an institutional mechanism set up in order to facilitate the discounting of invoices for MSMEs from corporate
buyers through multiple financiers. Invoice discounting on TReDS involves three participants MSME Supplier,
Corporate Buyer and Financier. The invoice is uploaded by either buyer or supplier depending on the method of
discounting and is approved by the other party. Once the invoice is approved the financiers on the platform start to bid
on the invoice. The supplier accepts the bid and the discounted amount is credited in its account in T+1 day, where T
is the day of acceptance.
RBI Notifies 4 Key Measures To Help Strengthen 1,514 Urban Co-operative Banks
 Aiming to strengthen 1,514 urban co-operative banks, the Reserve Bank has notified four key
measures, including giving them two years more to meet the priority sector lending targets.
 In order to expand their business, UCBs can now open new branches up to 10 per cent (maximum 5
branches) of the number of branches in the previous financial year without prior approval of RBI
in their approved area of operation.
 UCBs have to get the policy approved by their board and comply with the Financially Sound and
Well Managed (FSWM) Norms.
 UCBs can also do One-Time Settlement at par with commercial banks.
 The RBI has decided to extend the timeline for UCBs to achieve Priority Sector Lending (PSL) targets
by two years i.e. up to March 31, 2026.
 The deadline to achieve PSL target of 60 per cent, which was March 31, 2023, has also been extended
to March 31, 2024. The excess deposits, if any, after clearing the shortfall of PSL during FY 2022-23
will also be refunded to the UCB.
Learn Along:
Cooperative Banks, which are distinct from commercial banks, were born out of the concept of co-operative credit
societies where members from a community group together to extend loans to each other, at favorable terms.

Monthly BeePedia
June 2023
Co-operative Banks are broadly classified into Urban and Rural co-operative banks based on their region of operation.
RBI comes out with framework to permit default loss guarantee to fintechs
 The Reserve Bank of India (RBI) has come out with a regulatory framework to permit default loss
guarantee arrangements in digital lending.
 The RBI had barred the first loss default guarantee arrangement under the digital lending norms.
Under this credit-risk sharing agreement, a certain percentage of the default loan portfolio of banks and
NBFCs (registered entities) are guaranteed by a third party, a fintech or lending service provider
(LSP).
 According to the new guidelines, the entities may enter into default loss guarantee arrangements
only with a lending service provider or other entities with which it has entered into an outsourcing
arrangement. Further, the LSP providing default loss guarantee must be incorporated as a company
under the Companies Act, 2013.
 It indicates that entities can accept default loss guarantees in forms like cash deposited with the
entities, fixed deposits maintained with a scheduled commercial bank with a lien (a legal claim or legal
right which is made against the assets that are held as collaterals for satisfying a debt ) marked in favour
of the entities and bank guarantee in favour of the registered entities.
 The registered entities will ensure that a default cover could be provided for up to 5 percent of the
loan portfolio. In case of implicit guarantee arrangements, the Digital Lending Guidelines (DLG)
provider will not bear performance risk of more than the equivalent amount of 5 percent of the
underlying loan portfolio.
 According to the guidelines, the registered entities will invoke default loss guarantee within a maximum
overdue period of 120 days, unless made good by the borrower before that.
Equitas Holdings surrenders NBFC licence to RBI
 The Reserve Bank of India notified that Equitas Holdings Ltd has surrendered its NBFC licence, and
accordingly its registration has been cancelled.
 The RBI, in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India
Act, 1934, has therefore cancelled its CoR (certificate of registration).
Learn Along:
Equitas Holdings Limited Headquarters: Chennai CEO: John Alex
Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and engaged in
the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government
or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business.
RBI imposes Rs 20 lakh penalty on Manappuram Finance
 The Reserve Bank has imposed a penalty of Rs 20 lakh on Manappuram Finance for non-
compliance with certain provisions of the NBFC norms.
 This penalty is based on the deficiencies in regulatory compliance and is not intended to pronounce
upon the validity of any transaction or agreement entered into by the company with its customers.
Learn Along:
Manappuram Finance Limited Headquarters: Kerala MD & CEO : V.P. Nandakumar
RBI Imposes Penalty on J&K Bank, Bank of Maha, Axis Bank

Monthly BeePedia
June 2023
 The Reserve Bank has imposed a penalty of Rs 2.5 crore on Jammu and Kashmir Bank for non-
compliance with certain directions, including one related to 'time-bound implementation and
strengthening of SWIFT-related operational controls'.
 A penalty of Rs 1.45 crore has also been imposed on Bank of Maharashtra for non-compliance with
certain directions issued by RBI on 'Loans and Advances – Statutory and Other Restrictions' and
Advisory on 'Man in the Middle (MiTM) Attacks in ATMs'.
 A penalty of Rs 30 lakh has been imposed on Axis Bank for late payment of credit card dues though
the customers had paid the dues by the due date, through third-party platforms.
Learn Along:
Jammu & Kashmir Bank Headquarters: Srinagar MD & CEO: Baldev Prakash
Bank of Maharashtra Headquarters: Pune CEO: A. S. Rajeev
Axis Bank Registered Office: Ahmedabad MD &CEO: Amitabh Chaudhry

Corporate Office: Mumbai
SWIFT” stands for “Society for Worldwide Interbank Financial Telecommunications. SWIFT is a network that
banks use to communicate with each other securely, mainly to give instructions for transferring funds between accounts.
While SWIFT is a vital component of the global payments system, the network itself is used only for sending and
receiving messages—SWIFT doesn’t hold funds, issue or manage accounts, or provide settlement functions for
transactions.
RBI slaps penalties on Standard Chartered Bank-India, other entities
Entity Penalty Amount (in Rs) Non-Compliance
Standard Chartered Bank-

India 30,00,000 'Reserve Bank of India (KYC) Directions, 2016'
TransUnion CIBIL Limited, Credit Information Companies (Regulation) Act,

Mumbai 26,00,000 2005
Equifax Credit Information

Services, Mumbai 24,25,000 CIC Rules

Monthly BeePedia
June 2023
Entity Penalty Amount (in Rs) Non-Compliance
Experian Credit Information

Company of India 24,75,000 CIC (R) Act
CRIF High Mark Credit

Information Services, Mumbai 25,75,000 CIC (R) Act
 Penalities have been also been imposed on Uttar Pradesh Co-operative Bank Ltd, Lucknow; Ujjain
Nagarik Sahakari Bank Maryadit, Ujjain; Panihati Co-operative Bank; The Berhampur Co-operative
Urban Bank, Odisha; and Solapur Siddheshwar Sahakari Bank, Solapur.
 The Uttarpara Co-operative Bank, West Bengal; and Textile Traders Co-operative Bank,
Ahmedabad too have been penalised.
RBI opens sub-office at Kohima, to increase presence in north east
 The Reserve Bank has opened a sub-office at Kohima, and announced its aim to soon have an office
in Itanagar to strengthen its presence in North East India.
 In the north-eastern region, RBI is present in Assam, Manipur, Meghalaya, Mizoram, Tripura and
Nagaland.
 The Kohima sub-office houses Financial Inclusion and Development Department (FIDD), Consumer
Education and Protection Cell (CEPC), Market Intelligence Cell and Human Resource
Management Department (HRMD), while the currency management for Nagaland will continue from
the Guwahati office.
 The newly inaugurated sub-office is headed by general manager Paresh Chauhan.
RBI permits banks to issue RuPay Prepaid Forex cards
 In order to expand payment options for Indians travelling abroad, the Reserve Bank of India has
decided to allow issuance of RuPay Prepaid Forex cards by banks in India for use at ATMs, PoS
machines and online merchants overseas.
 Further, RuPay Debit, Credit, and Prepaid Cards will be enabled for issuance in foreign jurisdictions,
which can be used internationally, including in India.
Learn Along:
RuPay is a product of NPCI, the umbrella organisation that powers retail payments in the country. It is the first-of-its-
kind domestic Card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites
across India. It is a highly secure network that protects against anti-phishing.
RBI issues updated list of entities not authorized to deal in forex transactions

Monthly BeePedia
June 2023
 The Reserve Bank of India (RBI) has issued an updated alert list of entities that are not authorized
to deal in foreign exchange (forex) transactions or operate electronic trading platforms (ETPs) for
forex.
 The bank has added eight names of platforms/websites. Earlier RBI issued the list of 48 entities in
this regard.
 The alert list contains the names of entities that do not hold the necessary authority under the Foreign
Exchange Management Act, 1999 (FEMA) or the Electronic Trading Platforms (Reserve Bank)
Directions, 2018.
 The central bank also emphasized that engaging in unauthorized forex transactions or using
unauthorized ETPs could lead to financial losses and other risks.
Learn Along:
The Central Government of India formulated an act to encourage external payments and across-the-border trades in
India known as the Foreign Exchange Management Act. FEMA (Foreign Exchange Management Act) was introduced
in the year 1999 to replace an earlier act FERA (Foreign Exchange Regulation Act). FEMA was formulated to fill all
the loopholes and drawbacks of FERA (Foreign Exchange Regulation Act) and hence several economic reforms (major
reforms) were introduced under the FEMA act. FEMA was basically introduced to de-regularize and have a liberal
economy in India.
Forex reserves are foreign currency assets held by the central banks of countries.
These assets include foreign marketable securities, monetary gold, special drawing rights (SDRs) and reserve
position in the IMF. The main purpose of holding foreign exchange reserves is to make international payments and
hedge against exchange rate risks.
RBI revises OTS guidelines, brings UCBs under ambit
 The Reserve Bank of India (RBI) has overhauled regulations governing one-time settlements (OTS)
with defaulters and technical write-offs of loans to harmonise the instructions across all regulated
entities.
 In detailed guidelines the central bank asked all regulated entities (REs) to put in place board-approved
policies for OTS with borrowers as well as for technical write-offs which will lay down the process,
precedent and a graded framework for staff accountability with timelines.
 The settlement policy must also contain permissible sacrifice for various categories of exposures
after taking into account the realisable value of collateral, where available.
 Compromise settlements where the time for payment of the agreed settlement amount exceeds
three months shall be treated as restructuring.
Reserve Bank of India’s four-day variable rate repo auction witnessed firm demand from market
participants in June 2023
 The Reserve Bank of India’s four-day variable rate repo auction witnessed firm demand from market
participants amid expectations of outflows worth nearly Rs. 2-trillion in June because of advance tax
payments, and goods and services tax payments.
 Against a notified amount of Rs. 75,000 crore, the RBI received a total bid of Rs. 75,695 crore.
Learn Along:
The Variable Repo Rate (VRR) auction is undertaken to inject liquidity into the system while the Variable Reverse
Repo Rate (VRRR) is undertaken to withdraw excess liquidity from the system.

Monthly BeePedia
June 2023
Repo Rate & Reverse Repo Rate-The interest rate that the RBI charges when commercial banks borrow money
from it is called the repo rate. The interest rate that the RBI pays commercial banks when they park their excess
cash with the central bank is called the reverse repo rate.
RBI finalises norms for banks to hold capital for operational risks
 The Reserve Bank of India (RBI) has finalised directions for commercial banks to hold sufficient
regulatory capital against their exposures arising from operational risks.
 It would cover the risk of loss resulting from inadequate or failed internal processes, people and
systems, or external events.
 Entities like local area banks, payment banks, regional rural banks, and small finance banks are
excluded from the application of these norms for operational risk capital.
 While legal risks would form part of operational risks, the strategic and reputational risks are excluded
from the ambit of calculating capital requirements.
 Banks use methods like basic indicator approach (BIA) and the standardised approach (TSA) to
measure minimum ORC.
 The business indicator (BI), which is a financial statement-based proxy for operational risk, would
be used for calculating capital requirements for operational risks.
 BI would cover facets like interest, lease and dividend, and services and financial components.
 As for treatment of mergers and acquisitions, the BI items from acquired businesses or merged entities
over three years prior to the date of acquisition/merger will form part of the calculation for ORC.
Learn Along:
Operational risk is the risk of losses caused by flawed or failed processes, policies, systems or events that disrupt
business operations. Employee errors, criminal activity such as fraud, and physical events are among the factors that
can trigger operational risk.
Reserve Bank of India purchased $7.7 billion in April, highest in 2 years
 The Reserve Bank of India (RBI) purchased $7.7 billion on a net basis in April through intervention in
the foreign exchange market – highest in 22 months. In June 2021, the RBI purchased 18.6 billion on
a net basis in the spot market.
Outward remittances under LRS scheme fall slightly in April to $2.33 bn

Monthly BeePedia
June 2023
 According to data released by RBI, Outward remittances under the Reserve Bank of India’s (RBI)
liberalised remittance scheme fell slightly in April to $2.33 billion as compared to $2.96 billion in
March, mainly due to a fall in overseas travels.
 Indians spent around $1.10 billion on international travels in April, against $1.15 billion in March
 After international travel, Indians spent most on maintenance of close relatives followed by gifts,
and overseas education.
Learn Along:
The Liberalised Remittance Scheme (LRS scheme) of the RBI was introduced in 2004, under which, all resident
individuals, including minors, are allowed to freely remit up to $250,000 per financial year for any permissible current
or capital account transaction or a combination of both . The scheme was introduced on February 4, 2004, with a limit
of $25,000.
UPI to account for 90% of retail transactions in 5 years: RBI bulletin
 According to the Reserve Bank of India’s (RBI) monthly bulletin, Unified Payments Interface (UPI)
transactions will likely account for 90% of overall retail digital transaction volumes in the next five
years, up from 75.6% as of March end.
 According to the report, a total of 9.4 billion UPI transactions were recorded in the month of May, with
a 143% year-on-year (YoY) rise in successful transactions under the UPI Autopay feature, and a 23% on-
year rise in new mandate registrations.
 Furthermore, person-to-merchant (P2M) payments have gained prominence, comprising 57% of the
total transaction volume through the UPI.
Learn Along:
Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments
Corporation of India facilitating inter-bank transactions. The interface is regulated by the Reserve Bank of India
and works by instantly transferring funds between two bank accounts on a mobile platform.
Sovereign Gold Bond Scheme 2023-24 (Series I) – Issue Price
 Sovereign Gold Bonds 2023-24 (Series I) will be opened for subscription during the period June 19-
23, 2023 with Settlement date June 27, 2023. The issue price of the Bond during the subscription
period shall be Rs 5,926 per gram.
 The Government of India in consultation with the Reserve Bank of India has decided to allow discount
of Rs 50 per gram from the issue price to those investors who apply online and the payment is made
through digital mode. For such investors the issue price of Gold Bond will be Rs 5,876 per gram of
gold.
Learn Along:
Sovereign Gold Bonds are the government securities denominated in grams of gold and they are issued by the RBI
on behalf of the government to reduce the demand for physical gold, the sovereign gold bond scheme was launched
in November 2015. To buy the gold bonds, the investors have to pay the issue price in cash and the bonds will be
redeemed in cash on maturity.
 The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
 The tenor of the Bond will be for a period of 8 years with exit option after 5 th year to be exercised on the next
interest payment dates.
 Minimum permissible investment will be 1 gram of gold. The maximum limit of subscription shall be 4 Kg for
individual, 4 Kg for HUF and 20 Kg for trusts andsimilar entities per fiscal (April-March) year

Monthly BeePedia
June 2023
RBI imposes Rs 2.2-crore penalty on Indian Overseas Bank
 Reserve Bank of India has imposed a penalty of Rs 2.20 crore on the state-owned Indian Overseas
Bank (IOB) for non-compliance of income recognition and other deficiencies in regulatory compliance.
 The fine is imposed for breaking of the provisions of certain directions issued by RBI on ‘Prudential
Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances –
Divergence in NPA Accounts’.
Learn Along:
Indian Overseas Bank Headquarters: Chennai CEO: Ajay Kumar Srivastava
Banks deploy Rs 15.80 lakh crore credit to micro, small enterprises in April: RBI
 According to the latest monthly data on sectoral deployment of bank credit by the Reserve Bank of
India (RBI), gross bank credit deployed to micro and small enterprises (MSEs) under priority sector
lending in April 2023 grew by 12.5 per cent year-on-year (YoY) in comparison to 19.7 per cent YoY growth
in April 2022.
 Bank credit of Rs 15.80 lakh crore was deployed to MSEs in April this year. Credit to medium-sized
enterprises also registered growth as banks deployed Rs 4.03 lakh crore in April this year.
 Overall, bank credit to the MSME sector under priority loans in April 2023 stood at Rs 19.84 lakh
crore – 14.3 per cent of Rs 138.36 lakh crore non-food bank credit deployed across sectors – with 12.4
per cent growth from Rs 17.64 lakh crore deployed in April 2022.
Learn Along:
Micro, Small, Medium Enterprises (MSME’s) are entities that are involved in production, manufacturing and
processing of goods and commodities. The concept of MSME was first introduced by the government of India
through the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006.
Micro Investment less than Rs. 1 crore or Turnover less than Rs. 5 crore
Small Investment less than Rs. 10 crore or Turnover up to Rs. 50 crore
Medium Investment less than Rs. 50 crore or Turnover up to Rs. 250 crore
IIT Madras Research Park, RBI’s innovation centre working on voice-banking technologies
 IIT Madras Research Park (IITMRP) and IIT Madras Incubation Cell (IITMIC) have joined hands with
Reserve Bank Innovation Hub (RBIH) to work on creating voice-driven banking solutions.
 The objective is to address the language barriers, a key challenge in financial inclusion for millions
of Indians. The voice-based banking solution aims at performing basic banking transactions through
voice-commands in the Indian languages of Hindi, Tamil and Telugu to start with, in addition to English.
 The innovation will assist people who are illiterate and visually impaired, in their banking services and
help the underbanked population in overcoming language barriers during their banking activities.
 Marking the collaboration, IITMRP, IITMIC and RBIH, in partnership with leading banks, SBI, Axis
Bank, Kotak Mahindra and IDFC First conducted the voice banking hackathon ‘Vaulter Voice’ at the
IIT Madras Research Park campus.
Learn Along:
The Reserve Bank Innovation Hub is a wholly owned subsidiary of the Reserve Bank of India (RBI) set-up to promote
and facilitate an environment that accelerates innovation across the financial sector.
India's current account deficit narrows to 0.2% of GDP in Q4 FY23

Monthly BeePedia
June 2023
 India’s current account deficit (CAD) declined sequentially to 0.2 per cent of gross domestic
product (GDP) in the March 2023 quarter (Q4 of FY23) from 2 per cent of GDP in the December quarter
of FY23.
 Private transfer receipts, mainly representing remittances by Indians employed overseas, increased
to $28.6 billion, up by 20.8 per cent from their level a year ago
 Merchandise trade deficit in FY23 expanded to $265.3 billion against $189.5 billion in FY22 as
economic downturn in India’s key markets & higher commodity prices kept imports high.
 Net services exports grew by a robust 33.3 per cent to $143.3 billion in FY23.
 While net foreign direct investment (FDI) inflows declined 27.5 per cent to $28 billion, net FPI outflows
were $5.2 billion in FY23 compared with outflows of $16.8 billion a year ago.
 Net external commercial borrowings (ECBs) to India saw an outflow of $4.1 billion in FY23 against
an inflow of $7.4 billion in FY22.
Learn Along:
Current Account Deficit (CAD) is the shortfall between the money received by selling products to other countries and
the money spent to buy goods and services from other nations.
A foreign direct investment (FDI) is an investment made by a firm or individual in one country into business interests
located in another country. Generally, FDI takes place when an investor establishes foreign business operations or
acquires foreign business assets in a foreign company
External Commercial Borrowings (ECB) refer to commercial loans [in the form of bank loans, buyers' credit, suppliers'
credit, securitised instruments (e.g. floating rate notes and fixed rate bonds)] availed from non-resident lenders with
minimum average maturity of 3 years.
UBS revises FY24 GDP growth forecast up by 70 bps to 6.2 pc
 Swiss brokerage UBS has revised upwards its India growth forecast by 70 bps to 6.2 per cent for the
current fiscal.
 It has already revised global growth projections upwards by nearly 50 bps to 2.6 per cent in 2023.
Learn Along:
UBS Headquarters: Zürich, Switzerland CEO: Sergio Ermotti
JP Morgan raises India's FY24 GDP forecast to 5.5%
 JP Morgan raised its forecast for India's annual growth by 50 basis points to 5.5% for fiscal 2024 but
warned that a global economic slowdown and tighter financial conditions will still drag the economy.
Learn Along:
JPMorgan Chase Headquarters: New York, New York, United States CEO: Jamie Dimon
JPMorgan to use blockchain to settle US dollar forex trades in India hub
 JPMorgan Chase & Co. has tied up with six Indian banks to introduce a blockchain-based platform
to settle interbank dollar transactions in the nation’s newest international financial hub.
 The banks include top private lenders like HDFC Bank Ltd., ICICI Bank Ltd., Axis Bank Ltd., Yes
Bank Ltd. and IndusInd Bank Ltd, in addition to JPMorgan’s own banking unit at GIFT City
OECD marginally raises India's GDP growth forecast to 6% for FY24

Monthly BeePedia
June 2023
 The Organization for Economic Co-operation and Development (OECD) has marginally raised its
2023-24 (FY24) growth forecast for India to 6 per cent, from 5.9 per cent estimated earlier.
 It expects a 4.8% inflation in India in FY24. In FY25, it expects India's economic growth to pick up to
7%, in comparison to its April projection of 7.1%. It expects inflation next fiscal year to be 4.4%,
compared with the previous estimate of 4.2%.
 Global GDP growth in 2023 is projected to be 2.7 per cent, the lowest annual rate since the global
financial crisis, except for the 2020 pandemic period.
Learn Along:
OECD Headquarters: Paris, France Secretary-General: Mathias Cormann
Fitch Ratings ups India's FY24 economic growth estimate by 30 bps to 6.3%
 Fitch Ratings has revised upwards its economic growth estimate for India by 30 basis points (bps)
to 6.3 per cent for 2023-24 (FY24), citing stronger outturn in the March quarter of FY23 and near-term
momentum.
 It estimated the Indian economy to grow at 6.5 per cent for both years of FY25 and FY26. This
compares with 7.2 per cent gross domestic product (GDP) expansion in FY23 and 9.1 per cent in
FY22.
 Fitch revised global GDP growth upwards for 2023 to 2.4 per cent from 2 per cent estimated earlier,
in the wake of the fact that world economic activity is holding up better than expected.
Learn Along:
Fitch Ratings Headquarters: New York, United States CEO: Paul Taylor
S&P retains FY24 India growth projection at 6 per cent, to be fastest growing in Asia Pacific
 According to the S&P Global Ratings, India is likely to grow at 6.7% for the next three years, retaining
its tag as the fastest-growing major economy.
 The economic outlook announced by the global rating agency kept India’s growth forecast unchanged
at 6% for this fiscal, projecting a sharp bounce back to 6.9% in FY25 and FY26.

Monthly BeePedia
June 2023
 On the inflation front, S&P projected that softer crude prices and tempering of demand are likely to bring
down fuel and core inflation. It projected 5% inflation in FY24, on the assumption of a normal monsoon,
further declining to 4.5% over the next two years.
Learn Along:
S&P Global Headquarters: New York,US CEO: Douglas L. Peterson
World Bank lifts 2023 global growth forecasts to 2.1%, but cuts next year's outlook
 According to the World Bank’s latest Global Economic Prospects report, real global GDP is set to
climb 2.1% this year.
 It has cut its 2024 global growth forecast to 2.4% from 2.7% in January, citing the lagged effects of
central bank monetary tightening and more restrictive credit conditions that were reducing business
and residential investment.
 These factors will slow growth further in the second half of 2023 and into 2024, but the bank released
a new 2025 global growth forecast of 3.0%.
Learn Along:
World Bank Headquarters: Washington, D.C., US President: Ajay Banga
World Bank Approves $148 Million Financing for Minor Irrigation Project in West Bengal
 The World Bank’s has approved a $148 million loan to support the Indian state of West Bengal in
harnessing surface and groundwater through better irrigation practices that will benefit people in
rural areas.
 The West Bengal Accelerated Development of Minor Irrigation Project – Phase II will support the
state’s Department of Water Resources Investigation and Development and water-user associations
(WUAs) to plan and operate new irrigation structures such as check dams, small-scale storage
structures, creek rehabilitation, tube wells, and pump dug wells.
World Bank approves $150-million loan for Resilient Kerala programme
 The World Bank has approved a $150-million loan to support the Resilient Kerala programme
designed to strengthen Kerala’s preparedness for natural disasters, climate change impact, and
disease outbreaks.
 The additional financing will also scale up the coverage of the original programme from four to nine
coastal districts of the State. It will expand the State’s capability to tackle coastal erosion by creating
a shoreline management plan.
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About Kerela
Capital: Thiruvananthapuram Chief minister: Pinarayi Vijayan Governor: Arif Mohammed Khan
World Bank approves USD 255.5 million loan to improve technical education in India
 The World Bank has approved a USD 255.5 million loan to assist India in raising the standard of its
technical education and expanding the number of jobs prospects available to students.
 More than 3,50,000 students will benefit annually from the project's assistance of 275 government-
run technical institutes over the course of the next five years.

Monthly BeePedia
June 2023
World Bank approves USD 391 mln for Assam, Tripura
 World Bank has approved USD 391 million in financing to improve access to high-quality healthcare
services and to economic opportunities for people in Assam and Tripura.
 The Assam State Secondary Healthcare Initiative for Service Delivery Transformation (ASSIST)
Project, for which USD 251 million was approved, will improve access to high-quality secondary
healthcare services in Assam.
 For Tripura Rural Economic Growth and Service Delivery Project, USD 140 million has been
approved, intending to promote socioeconomic development and improve the quality of life of
142,000 households in select tribal blocks, territories where tribal communities live and work.
 More than 400 kilometres of rural roads will be upgraded to all-weather roads, providing farmers
and communities living in hilly and forested areas with greater access to markets.
World Bank approves $700 million for crisis-hit Sri Lanka
 The World Bank approved $700 million in budgetary and welfare support for Sri Lanka ,the biggest
funding tranche for the crisis-hit island nation. About $500 million of the funds will be allocated for
budgetary support while the remaining $200 million will be for welfare support earmarked for those
worst hit by the crisis.
ADB provides $295 Million Loan to Support Road Improvement in Bihar
 The Asian Development Bank (ADB) has approved a $295 million loan to widen and upgrade around
265 kilometers of state highways, improving transport connectivity and safety in the state of Bihar
in India.
 The highways will be upgraded with climate- and disaster-resilient design, road safety elements, and
other features that will respond to the needs of the elderly, women, children, and people with
disabilities.
 The project will also encourage women’s participation by providing employment to female workers in
construction works.
Learn Along:
The Asian Development Bank is a regional development bank. It was established in 1966, it is owned by 68
members—49 from the region.
ADB Headquarters: Philippines President: Masatsugu Asakawa
Govt gets Rs4,185 cr from CIL Stake Sale
 The government has mopped up Rs 4,185 crore through a three per cent stake sale in state-run Coal
India. The holding of the government has come down to 63.13 per cent in the coal producer after the
offer-for-sale (OFS).
Learn Along:
Coal India Ltd Headquarters: Kolkata CMD: Pramod Agrawal
India extends $1 billion credit line to Sri Lanka by another year
 India has extended its $1 billion credit line to Sri Lanka by another year to help the island nation hit
hard by an unprecedented economic crisis procure much-needed food, medicine and other essential
items.

Monthly BeePedia
June 2023
 An agreement was signed between the State Bank of India (SBI) and the Sri Lankan government for $1
billion credit facility in March last year.
Learn Along:
About Sri Lanka
Capitals: Colombo, Sri Jayawardenepura Kotte Currency: Sri Lankan Rupee Prime minister: Dinesh Gunawardena
BOB Financial opens up its entire RuPay Credit Card base for linking on UPI
 BoB Credit Card customers can now use their RuPay Credit Cards on UPI with BHIM and other UPI-
enabled Apps.
 BFSL is a wholly owned subsidiary of Bank of Baroda, and National Payments Corporation of India
(NPCI).
 This enablement would open doors for Bank of Baroda RuPay Credit Card users to transact across all
the merchant outlets with QR codes and POS devices in the country backed by convenience and
security assurance of UPI.
 BoB RuPay credit card customers can now directly link their credit cards with the UPI applications of
their choice, such as BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik and PayZapp.
Learn Along:
Bajaj Financial Securities Ltd. Corporate & Registered:Pune Director & CEO: Manish Jain
Office
UPI transactions at record high of Rs 14.3 trn in May,2023
 According to data from the National Payments Corporation of India (NPCI), Unified Payment Interface
(UPI) transactions in May scaled a new high of Rs 14.3 trillion in terms of value and 9.41 billion in
volume. It is a 2 per cent rise in value (Rs 14.07 trillion) and 6 per cent in volume (8.89 billion) compared
to April.
Peer-to-merchant transactions see 110% YoY growth in May 2023; value increased by 60% to Rs 3.44
lakh cr –UPI
 According to the latest UPI data from the National Payments Corporation of India (NPCI), the peer-
to-merchant (P2M) UPI transactions recorded 110 per cent growth in May 2023 to 536.9 crore from
254.6 crore in May 2022.
 The value of transactions also increased by 60.5 per cent from Rs 2.14 lakh crore in May last year to
Rs 3.44 lakh crore in May this year. The total UPI volume stood at 941 crore involving Rs 14.89 lakh
crore in May 2023, of which peer-to-peer (P2P) transactions were 404.5 crore amounting to Rs 11.45
lakh crore.
 P2M transactions had a 57.03 per cent share in total UPI volume in May compared to the 42.97 per
cent share of P2P transactions.
Google Pay allows users to validate UPI using Aadhaar authentication
 Google Pay, the digital payments platform has allowed users to activate their UPI (Unified Payments
Interface) accounts without a debit card, using Aadhaar-based authentication via the National
Payments Corporation of India (NPCI) to do so.

Monthly BeePedia
June 2023
 The new feature is available for the account holders of 22 banks that support Aadhaar-based one-
time passwords for validation of UPI.
 When users install the Google Pay app, they will have the option to select between debit cards or
Aadhaar-based UPI activation. Google Pay will not store Aadhaar numbers and will act as a facilitator
for validation.
SBI Life to take over 200,000 policies of Sahara India Life Insurance
 The Insurance Regulatory & Development Authority of India (IRDAI) has identified SBI Life
Insurance to take over the liabilities of about 200,000 policies of Sahara India Life Insurance (SILIC)
as the latter failed to comply with regulatory directions, amid deteriorating financial health after being
put under restrictions in 2017.
Learn Along:
IRDAI Headquarters: Hyderabad Chairperson: Debasish Panda
SBI Life Insurance Headquarters: Mumbai MD & CEO: Mahesh Kumar Sharma
SBI Cards and Payment Services to raise Rs 3,000 crore through NCDs
 SBI Cards and Payment Services Ltd, has approved the raising of funds through the issue of non-
convertible debentures (NCDs) up to Rs 3,000 crore.
Learn Along:
SBI Card Headquarters: Gurugram CEO: Rama Mohan Rao Amara
NaBFID Plans to Raise ₹10,000 cr Via Bonds
 The National Bank for Financing Infrastructure Development (NaBFID) is planning to raise funds
worth up to ₹10,000 crore through 10-year non-convertible debentures (NCDs).
 The state-backed infrastructure lender, which was set up in 2021, is planning an issuance with a base
size of ₹5,000 crore and an additional subscription option worth ₹5,000 crore.
Learn Along:
NaBFID Headquarters: Mumbai MD & CEO: Rajkiran Rai G
Bank of Baroda board approves raising Rs 5,000 crore by March 2024
 The board of Bank of Baroda has approved its plan to raise Rs 5,000 crore via additional tier-1 (AT-
1) or Tier-2 debt instruments by March 31, 2024.
Learn Along:
Bank of Baroda Headquarters: Vadodara MD & CEO: Debadatta Chand
AT-1, short for Additional Tier-1 bonds, are a type of unsecured, perpetual bonds that banks issue to shore up
their core capital base to meet the Basel-III norms. Tier 1 capital refers to a bank’s core capital. It includes
disclosed reserves that are present on a bank’s financial statements and equity capital.
A lender uses tier I capital to function on a regular basis and it forms the basis of a financial institution’s strength.
Tier 2 bonds are components of tier 2 capital, primarily for banks. These are debt instruments like loans, more than
they are equity features like stocks. As with all bonds and other debt instruments, they do not give ownership or voting
rights, but they do offer interest earnings to bondholders or owners. Tier 2 bonds are typically subordinated debt, behind
tier one debt such as commercial loans.

Monthly BeePedia
June 2023
HDFC Raises ₹8,325 cr Via Bond Issue
 HDFC has raised ₹8,235 crore through the issuance of two-year bonds at a coupon rate of 7.80% in
a sale.
 The mortgage financier had planned a bond sale with a base size of ₹5,000 crore and an additional
subscription option of ₹5,000 crore.
Learn Along:
HDFC Bank Headquarters: Mumbai CEO: Shashidhar Jagdishan
IIFL Finance to raise Rs 1,500 crore in debt
 IIFL Finance is tapping the debt market to raise up to Rs 1,500 crore by selling NCDs, offering up to
9 per cent in return to investors.
 The primary issue of secured redeemable non-convertible debentures (NCDs) is for Rs 300 crore,
with a green-shoe option to retain over-subscription of up to Rs 1,200 crore, totaling Rs 1,500 crore,
offering up to 9 per cent for a 60-month tenor.
Learn Along:
IIFL Finance Headquarters: Mumbai MD : Nirmal Jain
Tax hike on international transactions to come into effect from October 1,2023
 The Ministry of Finance has extended the deadline to apply the proposed changes in Tax Collection
at Source (TCS) rates from October 1, 2023.
 There is no change in rate of TCS for all purposes under Liberalised Remittance Scheme (LRS) and
for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs 7 lakh per
individual per annum.
Learn Along:
Ministry of Finance Union Minister: Nirmala Sitharaman
Tax collection at source (TCS) is an extra amount collected as tax by a seller of specified goods from the buyer at the time of sale over and above the sale amount and
is remitted to the government account.
Kotak Mahindra Bank raises Rs 1,895 crore through infrastructure bonds
 Kotak Mahindra Bank has raised Rs 1,895 crore through seven-year infrastructure bonds for lending
in sectors like power and roads as well as housing.
 The coupon for bonds was fixed at 7.55 per cent. The issue had two components — a base size
amounting to Rs 1,250 crore and a greenshoe option to retain another Rs 1,250 crore.
Learn Along:
Kotak Mahindra Bank Headquarters: Mumbai CEO: Uday Kotak
Infrastructure bonds are borrowings to be invested in government funded infrastructure projects within a country.
They are issued by governments or government authorised Infrastructure companies or Non- Banking Financial
Companies.
The greenshoe option refers to a clause used in an underwriting agreement during an IPO wherein this provision
provides a right to the underwriter to sell more shares to the investors than an issuer planned if demand is higher than
expected for the security issued.

Monthly BeePedia
June 2023
Kotak Bank arms invest Rs 732 cr in Rattanindia Power to help co reduce debt costs
 Kotak Mahindra Bank’s two arms have invested Rs 732 crore in Rattanindia Power (RIPL) to help
the thermal power plant operator reduce the cost of debt servicing.
 Kotak Strategic Situations India Fund II (KSSF) and Kotak Private Credit Fund (KPCF) will be investing
Rs 582 crore and Rs 150 crore, respectively, in the non-convertible debentures (NCDs) of RattanIndia
Power
 The investment is part of an overall Rs 1,125 crore infusion by a consortium of lenders.
Learn Along:
Rattanindia Power Headquarters: New Delhi MD: Brijesh Gupta
Kotak Mahindra Bank customers can now use RuPay credit cards on UPI
 Kotak Mahindra Bank and National Payments Corporation of India (NPCI) has facilitated that the
bank’s customers can now use their RuPay Credit Card on UPI with UPI-enabled apps. Kotak Mahindra
Bank customers can select from seven RuPay Credit Cards to use seamlessly on UPI.
 With the linkage of Kotak RuPay Credit Cards on UPI, customers would not need to use their physical
Credit Card. Customers can make payments from the UPI app at merchant outlets with QR codes and
POS devices across the country.
 This integration offers several advantages as Kotak RuPay Credit Card on UPI transactions are not only
simple but also secure given that customers are not required to carry the physical credit card.
National Highways Infra Trust to raise Rs 4,500 crore via term loans
 The National Highways Infra Trust (NHIT) has planned to raise Rs 4,500 crore through term loans to
acquire a portfolio of five operational road assets from its parent NHAI.
 The estimated enterprise value of these assets is likely to be above Rs 9,000 crore.
 The funding for the acquisition has two components — long-term debt and equity. While debt will be
around Rs 4,500 crore, the balance will be through the equity raised by the issuance of infrastructure
investment trust (InvIT) units.
 Two infra lenders — National Bank for Financing Infrastructure and Development (NaBFID) and India
Infrastructure Finance Company (IIFCL) — are extending loans to trust.
Learn Along:
National Highways Authority of India Headquarters: New Delhi Chairperson: Alka Upadhyaya
NABFID Headquarters: Mumbai MD: Rajkiran Rai G
India Infrastructure Finance Company Limited Headquarters: New Delhi MD: Padmanabhan Raja Jaishankar
An InvIT is like a mutual fund, which enables direct investment of small amounts of money from individual/institutional
investors in infrastructure projects to earn a portion of the income as return.
Cube Highways Trust secures Rs 1,030 cr funding from IFC via long-term NCDs
 Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors Pvt. Ltd, has secured
Rs 1,030 crore through long-term listed non-convertible debentures (NCDs) from the International
Finance Corporation (IFC).

Monthly BeePedia
June 2023
 The funds raised through this deal will be utilised for a special purpose vehicle (SPV) owned by Cube
Highways Trust.
Learn Along:
Cube Highways Fund Advisors Pvt. Ltd Headquarters: Noida CEO: Hari Reddy
International Finance Corporation Headquarters: Washington, D.C CEO: Philippe Le Houérou
A Special Purpose Vehicle (SPV) is a separate legal entity created by an organization. The SPV is a distinct company
with its own assets and liabilities, as well as its own legal status. Usually, they are created for a specific objective, often
to isolate financial risk. As it is a separate legal entity, if the parent company goes bankrupt, the special purpose vehicle
can carry on.
PNB Housing Finance planning to raise Rs 5,000 crore through NCDs
 PNB Housing Finance has received approval from its board of directors to raise Rs 5,000 crore in
bonds on private placement basis.
 PNB Housing planned to utilise the proceeds from the issue towards augmenting its capital base.
Learn Along:
PNB Housing Finance Headquarters: New Delhi MD & CEO: Girish Kousgi
PNB Raises ₹3,090 cr via Tier-II Bonds & SIDBI ₹3,000 cr
 Punjab National Bank raised ₹3,090 crore worth of funds through the sale of 15-year tier-II bonds.
 The public sector bank had planned a bond sale with a base size of ₹1,000 crore and a green shoe
option of ₹3,000 crore.
 Meanwhile, financial institution Small Industries Development Bank of India (SIDBI) raised ₹3,000
crore through the sale of bonds maturing in September 2026 at a rate of 7.55%.
Learn Along:
SIDBI Headquarters: Lucknow Chairperson: Sivasubramanian Ramann
IDFC FIRST Bank raises Rs 1,500 crore via Tier-2 bonds in domestic market
 IDFC FIRST Bank has raised Rs 1,500 crore through the issuance of Tier-2 bonds in the domestic
market.
 The unsecured Tier-2 bonds have a tenure of 10 years, with a call option at the end of five years. They
carry a coupon rate of 8.40 per cent.
Learn Along:
IDFC First Bank Headquarters: Mumbai MD & CEO: V. Vaidyanathan
BPCL to Raise ₹18k cr Through Rights Issue
 The board of Bharat Petroleum Corp Ltd (BPCL) has approved the plan to raise up to ₹18,000 crore
through a rights issue of shares.
 The capital infusion is for achieving energy transition, net zero, and energy security objectives.

Monthly BeePedia
June 2023
Learn Along:
BPCL Headquarters: Mumbai Chairman & MD: G. Krishnakumar
IndiGo onboards SoftBank-backed Juspay as the official payment partner
 India's budget carrier IndiGo has onboarded SoftBank-backed Juspay as its official payment partner
to handle payments for direct bookings on the airline's app and website.
 Juspay and IndiGo partnership will further enhance customer experience by improving payment
conversions and enabling a wider variety of payment modes.
Learn Along:
IndiGo Headquarters: Gurugram CEO: Pieter Elbers
SoftBank Group Headquarters: Tokyo, Japan CEO: Masayoshi Son
Aditya Birla Group to invest Rs 1,250 crore into its financial services arm
 Aditya Birla Group is set to pump in Rs 1,250 crore into its financial services arm Aditya Birla Capital
Ltd.
 The funds raised will be used for augmenting the capital base, improving the solvency margin and
leverage ratio, and meeting the growth and funding requirements.
Learn Along:
Aditya Birla Group Headquarters: Mumbai Chairman: Kumar Mangalam Birla
Aditya Birla Capital Headquarters: Mumbai CEO: Vishakha Mulye
GAIL infuses Rs 2,100 crore in JBF Petrochemicals
 GAIL has infused Rs 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals
Ltd that it had acquired in bankruptcy proceedings.
 Accordingly, JBF has become a wholly-owned subsidiary of GAIL with effect from June 1, 2023.
Learn Along:
GAIL Headquarters: New Delhi CMD: Sandeep Kumar Gupta
CCI approves acquisition of additional stake in Acko Tech by General Atlantic
 The Competition Commission of India (CCI) approves acquisition of additional stake in Acko Tech
by General Atlantic.
 It envisages acquisition of an additional 4.04% shareholding of Acko Technology and Services Private
Limited (Acko Tech) by General Atlantic Singapore ACK Pte. Ltd. (GASACK).GASACK, an investment
holding company, is held by funds or vehicles controlled by General Atlantic.
Learn Along:
The Competition Commission of India acts as the competition regulator in India. The Commission was established
in 2003 under the Competition Act 2002, although it became fully functional only by 2009. It aims at establishing a
competitive environment in the Indian economy through proactive engagement with all the stakeholders, the
government, and international jurisdiction.
CCI Headquarters: New Delhi Chairperson: Ravneet Kaur
General Atlantic Headquarters: New York, United States CEO: William E. Ford

Monthly BeePedia
June 2023
Fiscal deficit comes marginally lower than 6.36% of FY23 target: Govt data
 The central government marginally undershot the fiscal deficit target in FY23 at 6.36 per cent of
gross domestic product (GDP) against 6.4 per cent in the revised estimates (RE).
 This is due to lower-than-estimated revenue expenditure even as the Centre’s capital expenditure
(capex) exceeded the revised estimates. The revenue deficit for FY23 was also contained at 3.9 per
cent of GDP against the RE of 4.1 per cent.
 Fiscal deficit for FY23 was at Rs 17.33 trillion, or 98.7 per cent of the RE of Rs 17.55 trillion, on the
back of higher tax and non-tax revenue collections while non-debt capital receipts fell short of target.
 For FY23, net tax revenue came in marginally higher (0.5 per cent) at Rs 20.97 trillion than the RE of
Rs 20.86 trillion. Besides, non-tax revenues for FY23 was at Rs 2.86 trillion, or nearly 9.3 per cent
higher than the RE.
 Non-debt capital receipts, primarily disinvestment receipts, fell short of the FY23 target by 13.5 per
cent.
Learn Along:
A fiscal deficit is a shortfall in a government's income compared with its spending . A fiscal deficit is calculated as
a percentage of gross domestic product (GDP), or simply as total money spent in excess of income. In either case,
the income figure includes only taxes and other revenues and excludes money borrowed to make up the shortfall.
Capital expenditure is the money spent by the government on the development of machinery, equipment, building,
health facilities, education, etc. It also includes the expenditure incurred on acquiring fixed assets like land and
investment by the government that gives profits or dividend in future .
Revenue Expenditure is that part of government expenditure that does not result in the creation of assets. Payment
of salaries, wages, pensions, subsidies and interest fall in this category as revenue expenditure examples. Also,
revenue expenses are incurred by the government for its operational needs.

Monthly BeePedia
June 2023
Non-Tax Revenue is the recurring income earned by the government from sources other than taxes .Important receipts
under this head are interest receipts (received on loans given by the government to states, railways and others ) and
dividends and profits received from public sector companies .
Union Cabinet approves CITIIS 2.0 with a focus on circular economy
 In a push to support projects promoting a circular economy and climate-oriented reform actions, the
Union Cabinet has approved the City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0).
The scheme will run for a period of four years from 2023 to 2027.
 CITIIS 2.0 aims to leverage and scale up the learnings of CITIIS 1.0, which was launched in 2018 by the
Ministry of Housing and Urban Affairs with a total outlay of Rs 933 crore.
 The funding for CITIIS 2.0 would include a loan of 200 million euros or Rs 1,760 crore with AFD and
German development bank KfW contributing 100 million euros each, and a technical assistance grant
of 12 million euros or Rs 106 crore from the EU.
 All states and Union territories will be eligible for support on demand basis. The states will be provided
support to (a) set-up/strengthen their existing climate centres/climate cells/ equivalents; (b) create
state- and city-level climate data observatories; (c) facilitate climate-data-driven planning, and develop
climate action plans; and (d) build capacities of municipal functionaries.
 To achieve these objectives, the PMU or programme management unit at NIUA will coordinate the
provision of technical assistance and strategic support to state governments.
Learn Along:
Ministry of Housing and Urban Affairs Union Minister: Hardeep Singh Puri
GST mop-up rises 12% to Rs 1.57 trillion in May,2023
 Goods and services tax (GST) collection in May rose 12 per cent over the same month last year to Rs
1.57 trillion, indicating that the economy is holding firm despite external headwinds.
 Of the gross GST collected in May, central GST is Rs 28,411 crore, state GST Rs 35,828 crore,
integrated GST Rs 81,363 crore (including Rs 41,772 crore on imports of goods), and the cess is Rs
11,489 crore (including Rs 1,057 crore collected on imports of goods).
Learn Along:
GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services. It is a multi-stage,
destination-oriented tax imposed on every value addition, replacing multiple indirect taxes, including VAT, excise
duty, service taxes, etc.
Credit card NPAs rise Rs 765 crore in 9 months to Rs 3,887 cr amidst RBI caution
 According to the data provided by the Reserve Bank of India, bad or non-performing assets (NPA) in
banks’ credit card segment jumped by Rs 765 crore, or 24.5 per cent, to Rs 3,887 crore in the April-
December period of 2022.
 However, credit card NPAs made up just 2.16 per cent of the total credit card outstanding or loan
exposure as of December 2022, a marginal increase from 2.11 per cent on March 31, 2022.
 The latest RBI data shows that the banking sector’s credit card loan exposure stood at Rs 2 lakh crore
as on April 21, 2023. This is 1.5 per cent of their total loan book.
Learn Along:
A non-performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue
for a period of 90 days. Banks are required to classify NPAs further into Substandard, Doubtful and Loss assets.

Monthly BeePedia
June 2023
India's net direct tax collection soars 36% to Rs 3.78 trillion in Q1FY24
 Net direct tax collection for the first quarter of FY24 soared by 36 per cent to Rs 3.78 trillion,
indicating better corporate performance and a sustained economic growth trend.
 Advance tax payment for the first quarter stood at Rs 1.16 trillion. This includes corporation tax at
Rs 92,173 crore and personal income tax at Rs 23,513 crore.
 Net collection (Rs 3.78 trillion) rose 35.32 per cent over the Rs 2.80 trillion in the same period of FY23.
It accounted for 20.77 per cent of the Budget target of Rs 18.2 trillion projected for FY24.This includes
corporation tax about Rs 1.86 trillion and personal income tax at Rs 2.25 trillion.
Learn Along:
Direct tax is a type of tax where the incidence and impact of taxation fall on the same entity.In the case of direct tax,
the burden can’t be shifted by the taxpayer to someone else. These are largely taxes on income or wealth. Income tax,
corporation tax, property tax, inheritance tax and gift tax are examples of direct tax.
Corporate Income Tax - The income-tax paid by domestic companies, and foreign companies on their income in India
is corporate income-tax (CIT). The CIT is at a specific rate as prescribed by the income tax act subject to the changes
in the rates in the union budget every year.
Personal Income Tax-The income-tax paid by the individual taxpayers is the personal income tax. Individuals get taxed
on the basis of tax slabs at different rates
Indirect tax receipts rise 19% in April-May; collections are in line with Budget projections
 The Centre’s indirect tax receipts, before devolution to states, have increased by around 19% on-
year in April-May as against the required rate of 10.6% to achieve the FY24 target.
 The indirect tax revenue target for FY24 is set at Rs 15.37 trillion, against the actual receipts of Rs
13.91 trillion in FY23. In April-May of FY24, the indirect tax receipts are estimated to be around Rs 2.46
trillion or 16% of the annual target compared with 14.8% of the relevant target achieved in the year-ago
period.
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Indirect tax is the tax levied on the consumption of goods and services. It is not directly levied on the income of a
person. Instead, he/she has to pay the tax along with the price of goods or services bought by the seller.
India's trade deficit rises to $22.12 bn in May, highest since Dec 2022
 According to the data provided by the government, India's merchandise trade deficit rose to its highest
level since December 2022 to $22.12 billion in May.
 In May, the imports fell 6.6 per cent to $57.1 billion. The exports declined 10.3 per cent to $34.98
billion.
 In May, the services trade surplus stood at $11.77 billion, with services exports at $25.30 billion
and imports at $13.53 billion.
 In the April-May period, the merchandise and services trade deficit stood at $13.28 billion compared
with $20.56 billion in the same period last year.
 India’s overall exports (Merchandise and Services combined) in May 2023 is estimated to be USD
60.29 Billion, exhibiting a negative growth of (-) 5.99 per cent over May 2022. Overall imports in May
2023 is estimated to be USD 70.64 Billion, exhibiting a negative growth of (-) 7.45 per cent over May
2022.
Learn Along:

Monthly BeePedia
June 2023
A trade deficit occurs when a country's imports exceed its exports during a given time period. It is also referred to as
a negative balance of trade (BOT).
Merchandise trade-Goods which add or subtract from the stock of material resources of a country by entering
(imports) or leaving (exports) its economic territory.
Manufacturing PMI hits 31-month high in May, supported by demand and output
 According to the survey by S&P Global, India’s manufacturing activity in May increased to a 31-month
high of 58.7 from 57.2 in April, driven by record expansion in input stocks and a strong increase in new
orders and output.
Learn Along:
S&P Global Headquarters: New York,US CEO: Douglas L. Peterson
PMI or a Purchasing Managers' Index (PMI) is an indicator of business activity -- both in the manufacturing and
services sectors. It is a survey-based measures that asks the respondents about changes in their perception of some
key business variables from the month before.
Services PMI declines to 61.2 in May amid rising inflationary pressures
 According to the survey by credit rating agency S&P Global, Purchasing Managers' Index (PMI)
declined marginally to 61.2 in May from its 13-year high of 62 in April. The May services PMI is the
second-highest print in under 13 years.
Core sector output growth slows to six-month low of 3.5% in April
 Growth in eight infrastructure industries — the core sector — slowed to a six-month low at 3.5 per
cent in April, with the production of natural gas and refinery products slipping for the first time in five
months and crude oil output falling for the 11th consecutive month.
 Contraction in the electricity sector (-1.4 per cent) continued for the second month in April amid
unseasonal rainfall.
 The output of fertilisers witnessed the biggest jump -- 23.5 per cent -- in April; growth was also
reported in the output of steel (12.1 per cent), cement (11.6 per cent), and coal (9 per cent).
Learn Along:
The eight sectors -- coal, steel, cement, fertilisers, electricity, natural gas, refinery products, and crude oil -- comprise
two-fifths of India's total industrial production.

Monthly BeePedia
June 2023
Retail inflation cools to over two-year low in May to 4.25 percent ; IIP growth recovers to 4.2 percent
 The Consumer Price Index (CPI)-based inflation rate stood at 4.25 per cent in May, as against 4.70
per cent in the previous month, because of a decline in food, fuel, clothing and services prices.
 Meanwhile, IIP growth rebounded to 4.2 per cent in April from 1.1 per cent in March, largely due to
an increase in output growth in manufacturing (4.9 per cent), while growth slowed in mining (5.1
per cent). Electricity witnessed a contraction (-1.1 per cent).
Learn Along:
Retail Inflation-The CPI monitors retail prices at a certain level for a particular commodity; price movement of goods
and services at rural, urban and all-India levels. The change in the price index over a period of time is referred to as
CPI-based inflation, or retail inflation.
The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an
economy such as mineral mining, electricity and manufacturing.
WPI inflation in May falls to over 7-year low of -3.48% - Govt data
 According to the data provided by the Ministry of Commerce & Industry, India’s Wholesale Price
Index (WPI)-based inflation recessed further into deflationary territory in May, falling to over seven
year low at minus 3.48 per cent, from minus 0.92 per cent in April.
 Data shows the prices for manufactured items (minus 2.97 per cent) contracted further in May, from
minus 2.42 per cent in April, led by a decelerated price rise in items such as beverages, apparel,
cement, and mineral products.
Learn Along:
Ministry of Commerce & Industry Union Minister: Piyush Goyal
Wholesale Price Index- WPI is released by the Economic Advisor in the Ministry of Commerce and Industry. It reflects
changes in the average prices of goods at the wholesale level — that is, commodities sold in bulk and traded between
businesses or entities rather than goods bought by consumers. The purpose of WPI is to inspect movement in prices
of goods that reflect supply and demand in industry, construction and manufacturing. The index basket of WPI
categorises commodities under three groups — primary articles, fuel and power & manufactured products. The base
year for WPI is considered to be 2011-12.
CPI inflation for farm workers, rural laborers fell in May 2023 to 5.99 and 5.84 percent: Labour Bureau
 According to the data provided by the Labour Bureau, retail inflation for farm workers and rural laborers
eased to 5.99 percent and 5.84 percent, respectively, in May 2023.
 It added that food inflation stood at 6.31 percent and 6.07 percent in May 2023, compared to 6.67
percent and 6.52 percent in April 2023.
Learn Along:
CPI-AL (Consumer Price Index-Agricultural Labourers) and CPI-RL (Consumer Price Index-Rural Labourers) is
released by Labour Bureau.
The Labour Bureau, an attached office of the ministry, has been compiling CPI-IW every month on the basis of the
retail prices of selected items collected from 317 markets spread over 88 industrially important centres in the country.

Monthly BeePedia
June 2023
India's GDP reaches $3.75 trillion-mark in 2023 - Finance Ministry
 According to the information provided by the Ministry of Finance, India’s gross domestic product
(GDP) reached the $3.75 trillion-mark in 2023, from around $2 trillion in 2014.
 India has moved from tenth to the fifth-largest economy in the world
 Four countries ahead of India in terms of GDP at current prices include China, United States,
Germany, and Japan. India has surpassed the United Kingdom, France, Canada, Russia, and
Australia in GDP numbers.
 The provisional estimates released by the National Statistical Office (NSO) recently showed the
overall economic growth in FY23 at 7.2 per cent, powered by a higher than expected growth in the
fourth quarter.
Learn Along:
Ministry of Finance Union Minister: Nirmala Sitharaman
NSO Headquarters: New Delhi Chairperson: Rajeeva Laxman Karandikar

The National Statistical Office is headed by Ministry of Staistics & Programme Implementation. The primary function
of the National Statistics Office is to collect, compile and release official statistics that are produced subject to the
principles of reliability, objectivity, relevance, statistical confidentiality, transparency, specificity and proportionality.
Non-fossil fuel-based power generation capacity to be 68.4% by 2031-32- Ministry of Power
 The Ministry of Power has unveiled the National Electricity Plan (NEP), according to which India's
non-fossil fuel-based power generation capacity is expected to witness an increase of 68.4 per cent
of the total installed capacity in 2031-2032.
 The NEP also predicts that the share of non-fossil-based capacity is likely to increase to 57.4 per cent
by the end of 2026-27 and may further increase to 68.4 per cent by the end of 2031-32 from around
42.5 per cent as of April 2023.
 The domestic coal requirement is estimated to be 866.4 million tonnes (MT) for 2026-2027, whereas
for 2031-2032, it will be 1025.8 million tonnes.
Learn Along:
Ministry of Power Union Minister: R. K. Singh
ONDC to launch new incentive scheme on June 1 2023, caps discounts at Rs 100
 ONDC, the government-backed open e-commerce network, has revamped its incentive scheme for
buyers and sellers, changing its strategy of using discounts to get customers.
 The new structure called Incentive Scheme 2.0 will come into effect from June 1 to replace the one
introduced on January 30 this year. The new scheme will continue for about a month.
 The new scheme caps the maximum discount at Rs 100 per order, compared to the earlier limit of
Rs 125.
 To be eligible for ONDC incentives, food and beverage orders must have a minimum value of Rs 200.
For all other categories, the threshold is Rs 300 and includes shipping charges. A buyer is eligible for
incentives for a maximum of five transactions per month.
Learn Along:
Open Network for Digital Commerce (ONDC) is a freely accessible government-backed platform that aims to
democratise e-commerce by moving it from a platform-centric model to an open network for buying and selling of goods
and services.

Monthly BeePedia
June 2023
ONDC expands its B2B Retail Vertical with SignCatch, Rapido
 The Open Network for Digital Commerce (ONDC) has launched business-to-business (B2B) e-
commerce on the government-backed network with startups SignCatch and Rapidor enabling the
buyer-side and seller side platforms.
 The new foray of ONDC will enable micro, small and medium enterprises to utilise the network to
conduct B2B transactions.
GDP growth at 6.1% in Q4, 7.2% in full FY23; construction, agri sectors showed growth
 According to the data provided by the government, India's economy grew at 6.1 per cent year-on-
year (YoY) in the January to March quarter (Q4) of the financial year 2022-23 (FY23). In Q4FY22, gross
domestic product (GDP) growth was 4 per cent.
 In Q3FY23, the GDP growth rate was 4.4 per cent, while it was 6.3 per cent in Q2FY23 and 13.2 per
cent in Q1FY23.
 The real GDP (2011-12) in the year 2022-23 is estimated to attain a level of Rs 160.06 trillion, as
against the First Revised Estimates of GDP for the year 2021-22 of Rs 149.26 trillion. The growth in real
GDP during 2022-23 is estimated at 7.2 per cent as compared to 9.1 per cent in 2021-22.
 Nominal GDP in the year 2022-23 is estimated to attain a level of Rs 272.41 trillion, as against Rs
234.71 trillion in 2021-22, showing a growth rate of 16.1 per cent.
 In Q4FY23, manufacturing grew at 4.5 per cent, construction at 10.4 per cent, agricultural at 5.5 per
cent, and services sector grew at 6.9 per cent.
Walmart shareholding in PhonePe drops to 85 per cent
 Walmart’s shareholding in decacorn fintech firm PhonePe has dropped to 85 per cent from 89 per
cent following its ongoing fundraise of USD 1 billion.
 PhonePe has now raised a total of USD 850 million of primary capital in the current round till the end
of May.
Learn Along:
Walmart Headquarters: Arkansas, U.S. CEO: Carl Douglas McMillon
PhonePe Headquarters: Maharashtra CEO: Sameer Nigam
UP government launches a 15-day MSMEs registration drive across the state
 The UP government has announced the launch of a 15-day registration campaign for unregistered
Micro, Small, and Medium Enterprises (MSMEs) across the state. The campaign will cover all 75
districts of the state till 15th June 2023.
 The campaign aims to register about 14 lakh MSMEs that are currently not registered with the Udyam
platform.
Learn Along:
About Uttar Pradesh
Capital: Lucknow Chief minister: Yogi Adityanath Governor: Anandiben Patel
About 88 % of the wage payment has been made through ABPS till May 2023

Monthly BeePedia
June 2023
 Aadhaar based payment system (ABPS) is the best route for making wage payment through DBT.
It will help the beneficiaries in getting their wage payment on time.
 Out of the total 14.28 crore active beneficiaries, the Aadhaar has been seeded for 13.75 crore. Against
these seeded Aadhaar, a total 12.17 crore Aadhaar have been authenticated and 77.81% are now
already eligible for ABPS. In the Month of May 2023, about 88 % of the wage payment has been
made through ABPS.
Learn Along:
Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification
Number and allows Aadhaar card holders to seamlessly make financial transactions through Aadhaar-based
authentication. The AEPS system aims to empower all sections of the society by making financial and banking services
available to all through Aadhaar. AEPS is nothing but an Aadhaar-enabled payment system through which you can
transfer funds, make payments, deposit cash, make withdrawals, make enquiry about bank balance, etc.
TCS is selected as a strategic partner of Teachers' Pension Scheme in Eng, Wales
 Tata Consultancy Services (TCS) has been selected to administer and further enhance the
customer experience for the Teachers' Pension Scheme in England and Wales.
 It has been awarded a 10-year contract to manage the second-largest pension scheme in the UK
using a platform powered by TCS BaNCS.
 This will enable accurate administration of pension records, payment of benefits, effective scheme
finance management, proactive member engagement, and easy access to information.
Learn Along:
TCS Headquarters: Mumbai CEO: K. Krithivasan
Govt to offer Rs 3,760 cr as incentives to boost battery storage projects
 Government to offer Rs 3,760 crore ($455.2 million) in incentives to companies that will be setting up
battery storage projects.
 The scheme aims to boost battery storage projects that are crucial to India's plan to expand its
renewable energy capacity to 500 gigawatts (GW) by 2030. It also aims to cut the cost of battery energy
storage from the current Rs 5.5-6.5 per unit.
 The scheme also aims to develop large-scale battery energy storage systems to bring down costs
through competitive bidding.
Airtel to manage cloud, content for digital education platform DIKSHA
 Bharti Airtel has been chosen by the Digital India Corporation to manage the Cloud and content
delivery network for the Digital Infrastructure for Knowledge Sharing (DIKSHA). Airtel will ensure
seamless access to educational content across mobile and web platforms, benefiting students in
remote areas.
 Airtel will be responsible for end-to-end management of DIKSHA’s online platforms across its mobile
application and website. These will now be powered by Airtel Cloud and will be made seamlessly
accessible to students across the country for free educational content in their preferred Indian
language.
 Set up in 2017, DIKSHA is a national platform for school education, an initiative of National Council for
Educational Research and Training (NCERT), under the Ministry of Education (MoE). It has been
adopted by almost all the states, union territories, central autonomous bodies and boards including
CBSE.

Monthly BeePedia
June 2023
 Students, particularly in far-flung and remote locations, will be able to easily enrol onto the platform.
Airtel Cloud will also lead the migration of DIKSHA to Oracle Cloud and offer its managed services
along with CDN solutions.
Learn Along:
Bharti Airtel Headquarters: New Delhi Chairman: Sunil Bharti Mittal
Sequoia India renames itself as Peak XV Partners; to operate independently
 The venture capital firm Sequoia's India and Southeast Asia arm, which manages over $9.2 billion
across 13 funds has renamed itself as Peak XV Partners globally. The rebranding happened after
Sequoia Capital (US/Europe), Sequoia China, and Sequoia India & Southeast Asia decided to become
independent firms with distinct brands.
Learn Along:
Sequoia Capital Headquarters: California, United States President: Bob Lawson
Moody’s sees India’s GDP expanding 6-6.3 pc in Q1
 Moody’s projected that the Indian economy is expected to clock a 6-6.3 per cent growth in June
quarter, and flagged risks of fiscal slippage arising from weaker-than-expected government revenues in
the current fiscal.
 According to Moody’s India has a relatively high level of general government debt at around 81.8 per
cent of GDP for 2022-23.
Learn Along:
Moody’s Investor Service Headquarters:New York,US CEO: Robert Fauber
Go Digit Life Insurance receives IRDAI's approval to start business
 The Insurance Regulatory & Development Authority of India has granted certificate of registration
to Go Digit Life Insurance to start business in India.
 With this, the number of insurers operating in life insurance segment has gone up to 26.
Learn Along:
Go Digit Life Insurance Headquarters:Bengaluru CEO: Jasleen Kohli
SBI Mutual Fund gets IRDAI nod to acquire up to 10% stake in ICICI Lombard
 IRDAI has given its approval to SBI Mutual Fund for acquiring up to 10% of the total paid-up equity
share capital of ICICI Lombard General Insurance through market purchase.
 For the quarter ended March 2023, promoter ICICI Bank’s shareholding in the general insurance
company stood at 48.02%. SBI Mutual Fund through various schemes held 4.62% in the insurance
company.
Learn Along:
SBI Mutual Fund Headquarters: Mumbai MD & CEO: Shamsher Singh
ICICI Lombard Headquarters: Mumbai CEO: Bhargav Dasgupta
SBI gets board approval to raise Rs 50,000 crore through bonds in FY24

Monthly BeePedia
June 2023
 State Bank of India (SBI), will raise Rs 50,000 crore by way of bonds, including additional tier-1
bonds and tier-II bonds.
 The funds would be raised through private placement mode to Indian and/or overseas investors during
the financial year.
Learn Along:
SBI Headquarters: Mumbai Chairperson: Dinesh Kumar Khara
AT-1, short for Additional Tier-1 bonds, are a type of unsecured, perpetual bonds that banks issue to shore up
their core capital base to meet the Basel-III norms. Tier 1 capital refers to a bank’s core capital. It includes
disclosed reserves that are present on a bank’s financial statements and equity capital.
A lender uses tier I capital to function on a regular basis and it forms the basis of a financial institution’s strength.
SBI presents dividend cheque of Rs 5,740 crore to Finance Minister
 State Bank of India (SBI) paid a dividend of Rs 5,740 crore for the financial year 2022-23 to Finance
Minister.
 SBI had declared a dividend of Rs 11.30 per equity share (1,130 percent) for the financial year ended
March 31, 2023.
 For the full 2022-23, SBI's net profit increased 59 percent to Rs 50,232.45 crore. The profit in the 2021-
22 fiscal was Rs 31,675.98 crore.
BOI to raise up to Rs 3,000 cr via tier II bonds to support business growth
 Bank of India plans to raise upto Rs 3,000 crore in capital through tier II bonds in the current financial
year to support business growth.
 The lender has got board’s approval in place to raise up to Rs 6,500 crore in FY24, of which Rs 4,500
crore would be through additional tier-I bonds/equity and balance via tier II bonds. The tier II bond
issuance would be subject to market conditions.
Learn Along:
Bank of India Headquarters: Mumbai MD & CEO: Rajneesh Karnatak
HDFC raises over Rs 13,000 cr through 10-year bonds
 Housing Development Finance Corporation (HDFC) has raised over Rs 13,000 crore through 10-
year bonds at 7.75 per cent ahead of its merger with the largest private lender, HDFC Bank.
 The base issue size for non-convertible debentures (NCDs) was Rs 10,000 crore with the greenshoe
option to raise another Rs 10,000 crore.
Learn Along:
Housing Development Finance Corporation Headquarters: Mumbai CEO: Keki M. Mistry
Adani Transmission secures nod to raise up to Rs 8,500 crore

Monthly BeePedia
June 2023
 Adani Transmission, Adani Group’s electrical power transmission company, has received
shareholders’ approval to raise up to ₹8,500 crore through issuance of shares via qualified
institutional placement (QIP) or other modes.
Learn Along:
Adani Transmission Headquarters: Ahmedabad CEO: Anil Kumar Sardana
Qualified Institutional Placement (QIP) is a method by which listed companies raise capital by issuing equities, or
other equity convertible securities to qualified institutional buyers. It is a common method of private placement where
the company does not dilute its management stake and also does not need to repeat elaborate paperwork like it did
during its IPO.
IIFCL targets to raise Rs 17,000 crore from bond issuances in FY24
 Infra financier IIFCL is targeting to raise up to Rs 17,000 crore through bond issuances in FY24.
 The state-run company has already raised Rs 500 crore through a bond issue and will be doing
issuances in tranches of Rs 2,000-3,000 crore going ahead.
Learn Along:
India Infrastructure Finance Company Limited Headquarters: New Delhi MD: Padmanabhan Raja Jaishankar
HDFC to sell 90% stake in education finance arm to BPEA, ChrysCapital in $1.11 billion deal
 Baring Private Equity Asia and ChrysCapital will buy a 90% stake in Indian mortgage lender HDFC’s
education finance arm for 90.60 billion rupees ($1.11 billion), marking the country’s largest-ever private
equity buyout in the financial services sector.
 The two investors valued HDFC Credila Financial Services at a pre-money valuation of 103.50 billion
rupees and will infuse primary proceeds of 20 billion rupees into the company.
Learn Along:
BPEA EQT Headquarters: Hong Kong Chairperson: Jean Eric Salata
JSW Cement raises Rs 400 cr via sustainability-linked loan from BNP Paribas
 JSW Cement, a part of the $23 billion JSW Group, has signed a Sustainability Linked Loan (SLL)
agreement to raise Rs 400 crore ($50 million) from BNP Paribas Singapore.
 This is JSW Cement's second green debt capital raised within one year taking its SLL-based green
funding to Rs 800 crore ($100 million).
 With the money, JSW Cement will fund its capacity expansion in line with its long-term target of achieving
50 MTPA cement-making capacity in India.
Learn Along:
JSW Cement Headquarters: Mumbai CEO: Nilesh Narwekar
BNP Paribas Headquarters: Paris, France CEO: Jean-Laurent Bonnafé
Sustainability-linked loans are any types of loan instruments and/or contingent facilities (such as bonding lines,
guarantee lines or letters of credit)that incentivise the borrower ’sachievement of ambitious, predetermined
sustainability performance objectives. The borrower’s sustainability performance is measured using sustainability
performance targets (SPTs), which include key performance indicators,external ratings and/or equivalent metrics1and
which measure improvements in the borrower’s sustainability profile.

Monthly BeePedia
June 2023
Life Insurance Corporation increases stake in SAIL by 2.001% to 8.687%
 Life Insurance Corporation (LIC) of India has increased its stake in the Steel Authority of India
(SAIL) by 2.001 per cent to 8.687 per cent from 6.686 per cent earlier and now owns 358.8 million
shares of the steel major.
Learn Along:
LIC Headquarters: Mumbai Chairperson: Siddhartha Mohanty
Steel Authority of India Headquarters: New Delhi Chairman: Amarendu Prakash
LIC buys additional Tech Mahindra shares, raises stake to 8.88% in IT major
 Life Insurance Corporation of India (LIC) has increased its stake in Tech Mahindra to 8.88 per cent.
This is 81 basis points higher than 8.07 per cent stake that it held in the IT major as on March 31,2023.
Learn Along:
Tech Mahindra Headquarters: Pune MD & CEO: Mohit Joshi
TVS Motor Company sells entire 43.54% stake in Emerald Haven Realty
 TVS Motor Company Ltd has sold its entire holding constituting 43.54% stake in Emerald Haven
Realty Limited.
Learn Along:
TVS Motor Company Ltd Headquarters: Chennai CEO: K N Radhakrishnan
Shriram Finance zooms 7% as TPG exits by selling 2.65%
 TPG India Investments II Inc sold 9.92 million shares, or a 2.65% stake, in Shriram Finance at Rs
1,401 per share, valuing the transaction at Rs 1,390 crore ($170 mn) in a block deal on the BSE.
Shares of Shriram Finance rose 7% intra-day.
Learn Along:
Shriram Finance Corporate Office: Mumbai CEO: YS Chakravarti
Piramal Enterprises to Sell 8.34% Stake in Shriram Finance
 Piramal Enterprises plans to sell 8.34% stake in Shriram Finance for ₹4,630 crore, marking another
significant deal in the financial services sector. Morgan Stanley India will act as the sole placement
agent for this transaction.
Learn Along:
Piramal Enterprises Headquarters: Mumbai Chairman: Ajay Piramal
LIC pares 2% stake in NMDC for Rs 649 cr; brings down holding to 9.62%
 Life Insurance Corporation (LIC) has reduced its stake in iron ore producer NMDC to 9.62 per cent
by selling a little over 2 per cent stake for about Rs 649 crore.
 LIC’s shareholding in NMDC has decreased from 11.69 per cent to 9.62 per cent.
Learn Along:

Monthly BeePedia
June 2023
LIC Headquarters: Mumbai Chairperson: Siddhartha Mohanty
National Mineral Development Corporation Headquarters: Hyderabad CMD: Amitava Mukherjee
CCI approves the acquisition by HDFC Limited of certain additional shareholding of HDFC ERGO
 The Competition Commission of India (CCI) approves the proposed combination involving the
acquisition by Housing Development Finance Corporation Limited (HDFC Limited) of certain
additional shareholding of HDFC ERGO General Insurance Company Limited (HDFC ERGO).
 HDFC Limited (after the Proposed Transaction) and the surviving amalgamated entity i.e. HDFC Bank
Limited (HDFC Bank) will hold over 50% of the shareholding of HDFC ERGO in compliance with
Indian banking laws.
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The Competition Commission of India acts as the competition regulator in India. The Commission was established
in 2003 under the Competition Act 2002, although it became fully functional only by 2009. It aims at establishing a
competitive environment in the Indian economy through proactive engagement with all the stakeholders, the
government, and international jurisdiction.
CCI Headquarters: New Delhi Chairperson: Ravneet Kaur
Housing Development Finance Corporation Headquarters: Mumbai Chairman: Deepak Parekh
HDFC ERGO General Insurance Company Headquarters: Mumbai CEO: Ritesh Kumar
HSBC India executes first NDF transaction with Reliance Industries
 HSBC India has executed its first non-deliverable forex derivative transaction with Reliance
Industries, after the Reserve Bank of India allowed such transactions for resident Indians.
 The RBI‘s decision to allow banks to offer non-deliverable foreign exchange derivative contracts involving
Indian rupee to resident entities is expected to align the rupee hedging curves in onshore and offshore
markets.
Learn Along:
HSBC Bank India Headquarters: Mumbai CEO: Hitendra Dave
Reliance Industries Ltd Headquarters: Mumbai CEO: Mukesh Ambani
A non-deliverable forward (NDF) is a straight futures or forward contract, where, much like a non-deliverable swap
(NDS), the parties involved establish a settlement between the leading spot rate and the contracted NDF rate. The
settlement is made when both parties agree on a notional amount. NDFs are settled in cash. The most commonly used
currency for settlement is the U.S. dollar.
Govt releases ₹1.2 trillion as third tranche of tax devolution to states
 The Central government has released the third instalment of tax devolution to state governments,
amounting to a total of ₹1,18,280 crore.
 This amount released surpasses the normal monthly devolution of ₹59,140 crore, reflecting the
government’s commitment to supporting the fiscal needs of the states.

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June 2023
 The additional advance instalment provided to the states aims to facilitate and expedite capital
spending, finance development and welfare-related expenditures, and ensure the availability of
resources for priority projects and schemes.
 Andhra Pradesh, the southern state, received ₹4,787 crore, while Arunachal Pradesh, located in the
northeastern region, received ₹2,078 crore. Assam, Bihar, Chhattisgarh, and Gujarat were allocated
₹3,700 crore, ₹11,897 crore, ₹4,030 crore, and ₹4,114 crore, respectively.
Learn Along:
Tax Devolution - It is based on a formulaic transfer of resources to states, determined by the Finance Commission. The
tax devolution formula is based on the principles of need, equity, and efficiency. In other words, the formula is
progressive – states in need of higher assistance receive a larger share of funds devolved.
Rs 25,727 cr allowed for 9 states under capex loan facility
 Of the Rs 1.3-trillion grant-like special capex facility for states in FY24, the Centre has approved Rs
25,727 crore or 20% to nine states in the first two months of the year.
 Of this, Rs 3,763 crore has already been released to Rajasthan in May while Karnataka, Goa, Gujarat,
Haryana, Odisha, Sikkim, Tamil Nadu and Telangana will receive their relevant share soon after due
diligence of their proposals.
Learn Along:
Capital expenditure is the money spent by the government on the development of machinery, equipment, building,
health facilities, education, etc. It also includes the expenditure incurred on acquiring fixed assets like land and
investment by the government that gives profits or dividend in future.
Govt launches online portal to monitor dredging projects real-time
 The central government has launched an online dredging monitoring system, called Sagar
Samriddhi, in a bid to reduce time and cost of crucial dredging projects for Indian ports and river
systems.
 The online portal, which is developed by the National Technology Centre for Ports, Waterways and
Coasts, will bring in synergy among multiple inputs, such as daily dredging and the pre- and post-
dredging survey data, before processing and producing real-time report.
UAE emerges as fourth largest investor in India in FY23
 According to the data provided by the government, the United Arab Emirates (UAE), with which India
implemented a comprehensive free trade agreement in May last year, has emerged as the fourth
largest investor in India during 2022-23.
 The UAE was the fourth largest investor in India in 2022-23 compared to the seventh in 2021-22.
 Singapore was the largest investor in India with USD 17.2 billion investment in FY23, followed by
Mauritius (USD 6.1 billion) and the US (USD 6 billion).
 The country accounts for about 2.5 per cent of the total FDI India received between April 2000 and
March 2023.
Learn Along:
A foreign direct investment (FDI) is an investment made by a firm or individual in one country into business
interests located in another country. Generally, FDI takes place when an investor establishes foreign business
operations or acquires foreign business assets in a foreign company.
Keytrade Bank selects Infosys Finacle suite for core banking transformation

Monthly BeePedia
June 2023
 Infosys Finacle, a wholly-owned subsidiary of Infosys, and Belgium’s Keytrade Bank has
announced the bank’s decision to select Infosys Finacle as the preferred partner for the
modernisation of its core banking system.
 This collaboration will streamline the bank’s core banking ecosystem to enable greater efficiency,
faster time to market for products, and state-of-the-art technology architecture, and ensure the best
experience for its customers.
Learn Along:
Infosys Headquarters: Bengaluru CEO: Salil Parekh
Keytrade Bank Headquarters: Brussels, Belgium CEO: Thierry Ternier
Infrastructure Finance Secretariat(IFS), launches the revamped website of PPPININDIA and online
portals for IIPDF and the Best Practices in Infrastructure
 The Infrastructure Finance Secretariat (IFS) in its endeavour to usher in private investment in
infrastructure is constantly introducing interventions to setup an enabling ecosystem for infrastructure
development and delivery.
 As part of this endeavor, the IFS has revamped its website www.pppinindia.gov.in for its enhanced value
to the stakeholders involved in PPP projects. PPPININDIA is a website dedicated to promoting and
facilitating Public Private Partnerships in India and helps in bridging the gap between the public and
private sectors. The website serves as a digital platform that brings together government entities,
private companies, investors and entrepreneurs fostering collaboration and innovation for sustainable
growth
 The revamped website will act as a readily accessible repository of Policies, Guidelines, and Model
Bidding Documents including Model Concession Agreements for various sectors, Guidance Materials,
Reference Documents, etc., including the newly launched Reference Guide for Setting up of State
PPP units helping States to create dedicated units for promoting PPP policy, program and projects
and Reference Guide for PPP Project Appraisal helping Project Appraisal Authorities (PSAs) in quality
appraisal of PPP projects.
 To promote Digital India initiative of the Government of India, the IFS has launched the IIPDF Portal for
submitting applications for consideration under India Infrastructure Project Development Funding
Scheme (IIPDF) Scheme. The online portal will allow Sponsoring Authority to apply online under IIPDF
scheme that will significantly reduce the processing time, involve less paperwork and help the PSAs
to obtain speedy and time bound approvals for the submitted projects.
 Additionally, the revamped website hosts Best Practices Portal that contains the best practices in
successful implementation of infrastructure projects by the states and central ministries. The best
practices are identified inter-alia in terms project implementation, key challenges, success factors,
outcomes, and impacts.
Union Bank Of India Introduces New Saving & Current Account Schemes
 With an aim to enhance inclusivity and diversity, Union Bank Of India introduced below mentioned
four new CASA schemes:
o UNION UNNATI:
o The Current Account for women is introduced Recognizing the growing number of women
entrepreneurs and professionals.
o UNION SAMRIDDHI:

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June 2023
o This account scheme is specifically tailored to empower women by providing them with a safe
and convenient avenue to save and manage their finances.
o UNION SAMMAN:
o Saving Account for Pensioners.
o UNION SBCHS:
o Union Bank of India understands the importance of cooperative housing societies in fostering
a sense of community and affordable housing solutions.
Learn Along:
Union Bank of India Headquarters: Mumbai MD & CEO: A. Manimekhalai
UNDP partners with DAY-NULM towards empowering women entrepreneurs
 The United Nations Development Programme (UNDP) and the Deendayal Antyodaya Yojana-
National Urban Livelihoods Mission (DAY-NULM) entered into a collaborative partnership aimed at
empowering women to make well-informed career choices in the field of entrepreneurship.
 The partnership will support women looking to start and expand their own enterprises, particularly in
sectors such as care economy, digital economy, electric mobility, waste management, food
packaging and more. Focused on fostering entrepreneurship development and accelerating enterprise
growth, the three-year project, extendable beyond 2025, will cover eight cities in the initial phase.
 UNDP and DAY-NULM will jointly engage in on-ground mobilization activities that involve identifying
pockets of urban poverty and potential entrepreneurs, as well as facilitating access to Business
Development Services.
 Handholding support will be provided to the cohort to formalize their businesses, establish bank
linkages, secure access to finance and markets. UNDP will also contribute to the initiative by
developing community business mentors called Biz-Sakhis in selected project locations.
Learn Along:
United Nations Development Programme Headquarters: New York, United States Administrator: Achim Steiner
Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) -To reduce poverty and
vulnerability of the urban poor households by enabling them to access gainful self employment and skilled wage
employment opportunities,resulting in an appreciable improvement in their livelihoods on a sustainable basis,through
building strong grassroots level institutions of the poor.The mission would aim at providing shelters equipped with
essential services to the urban homeless in a phased manner.In addition,the mission would also address livelihood
concerns of the urban street vendors by facilitating access to suitable spaces,institutional credit,social security and
skills to the urban street vendors for accessing emerging market opportunities.
CBIC slaps Rs 942 crore demand notice on HDFC Life Insurance Company
 The investigative wing of the Central Board of Indirect Tax and Customs (CBIC) has slapped a show
cause-cum-demand notice on HDFC Life Insurance Company for an amount of Rs 942.18 crore.
 This notice pertains to charges of wrongly availing the input tax credit without the underlying supply of
services.
Learn Along:
Central Board of Indirect Taxes and Customs (CBIC) Chairman: Vivek Johri
HDFC Life Insurance Headquarters: Mumbai CEO: Vibha Padalkar
Shiprocket integrates it's app with ONDC to ease seller onboarding

Monthly BeePedia
June 2023
 Shiprocket, an e-commerce enablement platform, has integrated its seller app with Open Network
for Digital Commerce (ONDC).
 The app will facilitate the onboarding of sellers on the ONDC network. With the help of Shiprocket’s
seller app, the Shopify-powered stores of merchants will be discoverable on the network.
Learn Along:
Shiprocket Headquarters: Gurugram CEO: Saahil Goel
Open Network for Digital Commerce (ONDC) is a freely accessible government-backed platform that aims to
democratise e-commerce by moving it from a platform-centric model to an open network for buying and selling of goods
and services.
MSME registration crosses the 2 crore registration milestone on Udyam
 The government’s MSMEs online registration and certification platform, Udyam, has achieved a
significant milestone with two crores of MSME registrations.
 To date, the portal has registered 2.01 crore MSMEs, including 1.94 crore micro, 5.54 lakh small
and approximately 52,000 medium enterprises. These numbers include the 30.93 lakh MSMEs
registered on the Udyam Assist Portal.
Learn Along:
Udyam is an online system for registering micro, small and medium enterprises launched by the Union MSME
Ministry on July 1, 2020. The government had also revised the definition of MSMEs from the same date. More than 88
lakh MSMEs have successfully registered themselves to date through the Udyam registration portal
Centre extends deadline for ethanol projects by six months to Sept 30,2023
 The government has extended the deadline for loan disbursement or project completion of ethanol
production facilities by six months to September 30,2023.
 The previous timeline for loan disbursement under the schemes on ethanol projects was March 31,
2023.
 Under the Ethanol Blended with Petrol (EBP) programme, the Centre is extending financial assistance
by way of interest subvention at 6 per cent a annum or 50 per cent of the rate of interest charged
by banks, whichever is lower, on the loans to be extended by banks for five years, including a one-
year moratorium.
Ministry of MSME launches ‘CHAMPIONS 2.0 Portal’, ‘Mobile App for Geo-tagging of Cluster Projects,
Technology Centers’ and 'MSME Idea Hackathon 3.0' for women entrepreneurs
 Ministry of MSME has launched ‘CHAMPIONS 2.0 Portal’ and ‘Mobile App for Geo-tagging of
Cluster Projects and Technology Centers’ & 'MSME Idea Hackathon 3.0' for women entrepreneurs
dedicated towards growth and development of MSMEs.
 Further some MoUs were also signed –
o Ministry of MSME and SIDBI, to create a portal for ‘PM VIshwakarma KAushal Samman’
(PMVIKAS) by SIDBI.
o Ministry of MSME and GeM, with the objective of sharing of Udyam Registration data with GeM
for last mile registration of MSMEs in the Public Procurement eco-system.
o Ministry of MSME and the Industry Department, Government of Tripura, for sharing of Udyam
Registration data through API, easing policy making and targeted distribution of scheme benefits.

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June 2023
o Ministry of MSME and Credit Guarantee Fund Trust for Micro and Small Enterprises
(CGTMSE) for giving guarantee coverage to the beneficiaries of the MSME sector.
o National Small Industries Corporation (NSIC) and National Scheduled Castes Finance and
Development Corporation (NSFDC) & National Scheduled Tribes Finance and Development
Corporation (NSTFDC), to promote mutual collaboration for supporting SC/ ST entrepreneurs
under National SC-ST Hub and various schemes being implemented by NSFDC and NSTFDC.
o NSIC, LG Electronics India Private Limited, and Electronics Sector Skill Council of India to
establish a Centre of Excellence (CoE) by LG Electronics in NTSC Chennai and Hyderabad.
Learn Along:
Ministry of MSME Union Minister: Narayan Rane
Global steel production falls 5 per cent in May; India’s output rises 4 per cent
 According to the World Steel Association (worldsteel), India has registered a 4.1 per cent growth in
its crude steel production at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in
May 2023.
 Despite a 7.3 per year-on-year (y-o-y) fall, China remained the top steel producing country in May with
90.1 MT crude steel production
 India produced 11.2 MT crude steel, up 4.1 per cent over May 2022. Japan’s output was also 5.2 per
cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall
annually.
 Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall
of 0.1 per cent to 5.8 MT. While Germany produced 3.2 MT, Brazil 2.8 MT, Türkiye 2.9 MT and Iran
produced 3.3 MT in May 2023.
Learn Along:
World Steel Association Headquarters: Brussels, Belgium Director General: Edwin Basson
Google to Open Fintech Centre in GIFT City
 Alphabet’s Google will open its global fintech operations centre at GIFT City through its existing $10-
billion India digitisation fund to enhance India’s technololgical capabilities.
Learn Along:
Google Headquarters: California, United States CEO: Sundar Pichai
Gujarat International Finance Tech-City (GIFT City) is a business district currently being constructed in the state
of Gujarat. GIFT City is India’s first operational smart city with the development of world-class infrastructure and
sustainable master planning, which will make GIFT at par or above par with renowned International centres.
Centre plans to raise up to Rs 45,000 cr through road monetisation in FY24
 The Ministry of Road Transport and Highways, the highest contributor to the Rs 6 trillion National
Monetisation Pipeline (NMP), is planning to raise up to Rs 45,000 crore through monetising national
highways in 2023-24.
 The target for monetisation through toll-operate-transfer (ToT) is Rs 15,000 crore and through
infrastructure investment trusts (InvITs) Rs 15,000 crore. The overall target is Rs 44,000-45,000
crore.

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June 2023
 For the NHAI’s new projects, 80 per cent will be executed in the hybrid annuity model, and 20 per
cent in engineering procurement and construction (EPC) mode.
Learn Along:
Ministry of Road Transport and Highways Union Minister: Nitin Gadkari
An InvIT is like a mutual fund, which enables direct investment of small amounts of money from individual/institutional
investors in infrastructure projects to earn a portion of the income as return
Engineering, Procurement, and Construction (EPC) is a particular form of contracting arrangement used in some
industries where the EPC Contractor is made responsible for all the activities from design, procurement, construction
to commissioning and handover of the project to the End-User or Owner.The engineering and construction contractor
will carry out the detailed engineering design of the project, procure all the equipment and materials necessary, and
then construct to deliver a functioning facility or asset to their clients.
National Monetisation Pipeline (NMP) aims to unlock value in brownfield projects by engaging the private sector,
transferring to them revenue rights and not ownership in the projects, and using the funds generated for infrastructure
creation across the country.
Centre approves Rs 56,000 cr for 16 states for capital investment
 Centre has approved Rs. 56,415 crore to 16 States for capital investment under ‘Special Assistance
to States for Capital Investment 2023-24’ Scheme for giving timely boost to capital spending by States.
 The projects approved are across various sectors including health, education, irrigation, water
supply, power, roads, bridges and railways.
 Funds for meeting the State share of Jal Jeevan Mission and Pradhan Mantri Gram Sadak Yojana
have also been provided to the States under this scheme to enhance pace of the projects in these
sectors.
 The highest allocation has been made to Bihar at Rs 9,640 crore followed by Madhya Pradesh which
has been given Rs 7,850 crore.
 The scheme ‘Special Assistance to States for Capital Investment 2023-24' was announced in the Union
Budget 2023-24. The idea was to provide boost to capital spending by States.
 Under the scheme, special assistance is being provided to the State Governments in the form of 50-
year interest free loan up to an overall sum of Rs. 1.3 lakh crore during the financial year 2023-24.
IRFC and IDFC First Seal Debt Raise Deals
 Indian Railway Finance Corporation (IRFC) has sold two sets of bonds worth a total of ₹3,940 crore,
while IDFC First Bank sold 10-year tier-II bonds worth ₹1,500 crore.
 IRFC raised ₹1,940 crore through bonds maturing in October 2028 at a rate of 7.45% and ₹2,000 crore
through bonds maturing in October 2026 at a rate of 7.41%.
Learn Along:
Indian Railway Finance Corporation Headquarters: New Delhi CMD: Shelly Verma
IDFC First Bank Headquarters: Mumbai MD &CEO: V. Vaidyanathan
Income tax department keeps tolerance range intact for transfer pricing

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June 2023
 The income tax department has kept the tolerance range for variation between arm's length price
(ALP) and transfer pricing for international and specified domestic transactions intact for the
assessment year 2023-24.
 According to the information provided by the Central Board of Direct Taxes (CBDT), the limit is kept at
one per cent for wholesale traders and three per cent for all other taxpayers.
 This means that if ALP varies up to one per cent of the transaction price for wholesale traders and
three per cent for other taxpayers, the transaction price would be taken as ALP under the transfer
pricing rules.
 Unlike business transactions between related parties, transactions between unrelated parties are done
at an open market price. Accordingly, ALP is measured as the price that should have been charged
between related parties had those parties not related to each other.
 Under transfer-pricing regulations in India, the entire transfer-pricing mechanism is based on
computation of income arising out of cross-border transactions with regard to the arm’s length price.
Learn Along:
Central Board of Direct Taxes (CBDT) Headquarters: New Delhi Chairman: Nitin Gupta
Transactions on GeM portal cross Rs 50,000 crore in first quarter
 The Government e-Marketplace (GeM) portal has crossed Rs. 50,000 crore in gross merchandise
value (GMV) in this financial year so far, 1.5 times more than the same time a year ago.
 Of the Rs. 50,000 crore worth of transactions, central public sector enterprises have made about 53
per cent, followed by central ministries (30 per cent) and state governments (17 per cent).
Learn Along:
The Government e-Market (GeM) portal is designed to facilitate online purchases of goods and services by
ministries/departments and entities belonging to the central and state governments to better ensure transparency in
public procurement system.
Tata AIA allows consumers to pay premiums through Whatsapp and UPI
 Tata AIA Life Insurance (Tata AIA) has introduced digital payments via WhatsApp and Unified
Payment Interfaces (UPI). This feature provides an instant premium payment facility through WhatsApp
and UPI-enabled payment options.
 This is also part of Tata AIA's goal to improve its Net Promoter Score (NPS), a system used to measure
how well the company is meeting its consumer's needs and improving consumer behavior.
Learn Along:
Tata AIA Life Insurance Company Ltd. Headquarters: Mumbai CEO: Naveen Tahilyani
Centre to provide financial incentives worth Rs 1,43,332 crore in FY 2023-24 to states for power
sector reforms
 The central government has announced financial incentives to states for power sector reforms in the
form of additional borrowing permissions. The move aims to encourage and support the states in
undertaking reforms to enhance the efficiency and performance of the power sector.
 The government has capped Rs 1,43,332 crore as a financial incentive for the fiscal year 2023-24.
Earlier, an amount of Rs 66,413 crore was granted for reforms undertaken in 2021-22 and 2022-23.

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June 2023
 The initiative was announced in the Union Budget 2021-22. Under this initiative, an additional borrowing
space of up to 0.5 percent of the Gross State Domestic Product (GSDP) is available to the states
annually for a four-year period from 2021-22 to 2024-25.
 This additional financial window is dependent on implementation of specific reforms in the power sector
by the states.
Learn Along:
Gross State Domestic Product (GSDP) is a measure in monetary terms, the sum total volume of all finished goods
and services produced during a given period of time, usually a year, within the geographical boundaries of the State,
accounted without duplication.
Aadhaar-based face authentication being used by 47 entities: Govt data
 According to the data provided by the government, monthly transactions enabled by Aadhaar-based
face authentication across the country touched an all-time high of 10.6 million in May, up from 7.9
million in January.
 Launched in October 2021, the Artificial Intelligence (AI)-based face authentication by the Unique
Identification Authority of India (UIDAI) is now being used by 47 entities, including state government
departments, ministries in the central government and some banks.
 The transactions include authentication of beneficiaries of government schemes like Ayushman Bharat,
Pradhan Mantri Jan Arogya Yojana, registrations for the PM Kisan scheme as well as for generating
digital life certificates at home by pensioners.
 It is also being used for marking staff attendance at several government departments and for
opening bank accounts at a few leading banks via their business correspondents.
Learn Along:
About UIDAI
 The Unique Identification Authority of India is a statutory authority established under the provisions of Aadhaar act
2016 by the Govt. of India under the Ministry of Electronics & Information Technology.
 Its vision is to empower residents of India with a unique identity and a digital platform to authenticate anytime,
anywhere.
 Unique Identification Authority of India (“Authority/UIDAI”) has its Headquarters (HQ) in New Delhi and eight
Regional Offices (ROs) across the country.
UIDAI has two Data Centres, one at Hebbal (Bengaluru), Karnataka and another at Manesar (Gurugram), Haryana
The Uttar Pradesh government has approved an insurance scheme to support micro-entrepreneurs
in case of an accident
 The Chief Minister’s Micro Entrepreneur Accident Insurance Scheme will allow for claims up to Rs 5
lakh in case of death or disability of a micro-entrepreneur due to an accident.
 In the case of partial disability, the claim will be issued according to the percentage of disability
stated in the disability certificate issued by the Chief Medical Officer.
 Under the Mukhyamantri Micro Udyami Accident Insurance Scheme, micro-category entrepreneurs
aged between 18 and 60 years can apply to avail of its benefits. Micro entrepreneurs, who are not
eligible for the trader’s accident insurance scheme run by the GST Department, can immensely
benefit from the scheme.
Learn Along:
About Uttar Pradesh
Capital: Lucknow Governor: Anandiben Patel Chief minister: Yogi Adityanath

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June 2023
Recent Developments & MoUs -
Organization Name News Learn Along

Indian Bank Provide digital supply chain financing for SMEs- Yubi, Indian Bank
& an online debt marketplace that connects borrowers and
Headquarters: Chennai
Yubi lenders for various credit products has partnered with
Indian Bank to extend digital supply chain financing CEO: Shanti Lal Jain
solutions to small and medium-sized businesses (SMEs).
Yubi
CEO: Gaurav Kumar
Power Finance Financing infrastructure and logistics sector projects- Power Finance Corp
Corporation (PFC) Power Finance Corporation (PFC), has signed an MoU
Headquarters: New Delhi
& with RITES Limited, to establish a strategic partnership for
RITES Limited financing infrastructure and logistics sector projects in CMD: Ravinder Singh Dhillon
India and abroad.
Rail India Technical and
The MoU will also enable both companies to explore Economic Service
consultancy opportunities for various Government
Headquarters: Gurugram
Bodies, Private Entities and Multilateral Funding
Agencies. The collaboration will focus on identifying, CMD: Rahul Mithal
evaluating, and funding projects in transportation,
logistics, energy and allied infrastructure.
NTPC Green Energy Develop green energy parks- NTPC Green Energy Ltd NTPC
& (NGEL) has signed an agreement with the Uttar Pradesh
UP Rajya Vidyut Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for the
Utpadan Nigam development of renewable energy parks in the state.The CMD: Gurdeep Singh
aim of the agreement is to collaborate in the
development of renewable energy parks and projects
and facilitate the government’s efforts towards energy
transition.
Tata Group EV battery plant deal with Gujarat- The Tata group Tata Group
& signed an outline deal with the Gujarat government for
Headquarters: Mumbai
Gujarat government building a lithium-ion cell factory with an investment of
about Rs 13,000 crore ($1.6 billion). Chairman: Natarajan
Chandrasekaran
Kotak Mahindra Bank Launch Co-Branded Credit Card- Kotak Mahindra Bank Kotak Mahindra Bank
& Limited (“KMBL”/Kotak) in partnership with Myntra has
Myntra launched its first-of-its-kind co-branded digital fashion
& lifestyle credit card.Offering loads of benefits, the co- CEO: Uday Kotak
branded Kotak Myntra Credit Card will empower fashion- Myntra
conscious consumers to unlock great value on their
savings through unlimited transactions. Headquarters: Bengaluru
CEO: Nandita Sinha

Monthly BeePedia
June 2023

ICICI Bank Commits ₹1,200 cr to Tata Memorial centre- ICICI Bank ICICI Bank
has made a commitment to contribute ₹1,200 crore
Registered Office: Vadodara
towards Tata Memorial Centre (TMC), to expand
infrastructure at three cancer treatment hubs.The proposed
donation is the largest made under corporate social CEO: Sandeep Bakshi
responsibility (CSR) by an Indian company towards
cancer care.
Bajaj Finserv MoU-Bajaj Finserv has signed an MoU with the Bajaj Finserv Ltd.
& Government of Maharashtra to invest Rs 5,000 crore in
Government of Headquarters: Pune
Pune in their financial services business. This investment
Maharashtra would create 40,000 jobs and give a boost to Pune and CEO: Sanjiv Bajaj
make it a financial services hub.
Torrent Power Build 3 hydro projects- Torrent Power Limited has Torrent Power
& signed an MoU with the Maharashtra government for the
Headquarters: Ahmedabad
Maharashtra govt development of three pumped storage hydro projects of
5,700 MW capacity. The projects would be executed at Chairman: Samir Mehta
three sites identified by Torrent namely Karjat (3,000 MW)
in Raigarh District, Maval, (1,200 MW) and Junnar (1,500
MW) in Pune District.
IFC Ramp Up Public-Private Partnership in India-To International Finance

& develop a robust pipeline of investment-ready public- Corporation
NaBFID private partnership (PPP) projects in infrastructure across Headquarters: Washington, D.C.,
India, IFC and National Bank for Financing U.S.
Infrastructure and Development (NaBFID) signed an
MoU. Under the MoU, IFC and NaBFID will collaborate to CEO: Philippe Le Houérou
jointly identify and develop PPP projects. In addition,

comprehensive transaction advisory services will be
available for those initiatives. The projects will be
selected and implemented with an eye on sustainability as
well as climate adaptation and mitigation, supporting
India's climate commitments.
YES SECURITIES Provide investment solutions to the healthcare YES SECURITIES

(YSL) fraternity-YES SECURITIES (YSL) is partnering with
WatchYourHealth (WYH), to provide investment solutions
&
WatchYourHealth to healthcare professionals through the ‘Wellth- Where CEO: Amishi Kapadia
Investments and Health Unite’ program.The partnership
is aimed at helping the healthcare community start their
investment journey for successful wealth creation and
achieving long-term financial goals.
LinkedIn Voluntary ID verification feature for Indian users- LinkedIn Corporation

LinkedIn will provide free ID verification for all users in
Headquarters: California, United
India.The verification will be carried out by HyperVerge, a States
third-party company that leverages DigiLocker, a digital
wallet for government IDs including Aadhaar.The CEO: Ryan Roslansky

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June 2023

voluntary verification will help in building trust within the
professional community.
GAME NBFC Growth Accelerator Program- Global Alliance for SIDBI

& Mass Entrepreneurship (GAME), a mass
Headquarters: Lucknow
SIDBI entrepreneurship enablement platform and Small
Industries Development Bank of India (SIDBI), entered Chairperson: Sivasubramanian
into a joint partnership to launch the NBFC Growth Ramann
Acceleration Program (NGAP). This program aims to
handhold smaller NBFCs that have at least 60 per cent
of their exposure to MSMEs.
The NBFC accelerator programme will work on capacity

building of at least 100 smaller NBFCs with assets under
management ranging from Rs 75 crore to Rs 250 crore
who primarily lend to micro and small businesses in tier two
and tier three cities.
SIDBI Offer financial solutions to MSMEs- Small Industries HDFC Bank

& Development Bank of India (SIDBI) has entered into an
HDFC Bank MoU with HDFC Bank for providing financial solutions to
MSMEs.Under the MoU, SIDBI and HDFC Bank will work CEO: Shashidhar Jagdishan
together to provide complete financial product and
services to the customers under Micro, Small and
Medium Enterprises (MSMEs).The MoU will facilitate
providing complete financial solutions to MSMEs in a
seamless manner.
Microsoft Enable internet availability for underserved Microsoft

& communities in rural India-Microsoft and AirJaldi have
Headquarters: Washington, US
AirJaldi signed a three-year MoU to provide internet access to
underserved communities in rural India. The program, CEO: Satya Nadella
titled 'Contentful Connectivity,' is aimed at advancing
access to high-speed internet and meaningful
connectivity as a fundamental right for underserved
communities. The collaboration will involve the private,
public, and non-profit sectors, working together to build
solutions for broadband adoption and digital
transformation.
Tata Power Renewable Set up 966 MW project for Tata Steel- Tata Power Tata Power Solar
Energy Ltd Renewable Energy Ltd through its subsidiary TP
Vardhaman Surya Limited, has received letter of award
(LOA) to set up 966 MW RTC (round-the-clock) hybrid CEO: Ashish Khanna
renewable power for Tata Steel. Tata Steel, will invest 26
per cent equity in the said project. The project will be
commissioned by 1 June 2025.

Monthly BeePedia
June 2023

Indian Institute of Academic and research collaboration- An MoU was Indian Institute of Corporate
Corporate Affairs signed between Indian Institute of Corporate Affairs Affairs
(IICA) (IICA) and Rashtriya Raksha University (RRU). The MoU
Headquarters: Manesar,
& intends to synergise the professional capabilities of IICA Gurugram
and RRU towards capacity building, education, research
Rashtriya Raksha
and consulting in the domain of Internal Security, Director General & CEO:
University (RRU) Financial Crimes, Law Enforcement, Corporate Frauds
Praveen Kumar
and other subject matters common to their mandate and
objectives. The MoU also provides for exchange of
knowledge and resources between IICA and RRU for
conducting research, training and consultancy.
Indian Council of Empower Farmers- Indian Council of Agricultural ICAR

Agricultural Research Research (ICAR) has signed a MoU with Amazon Kisan
& to combine strengths and create synergy between the
Amazon Kisan two organizations for guiding the farmers on the Director General: Himanshu
scientific cultivation of different crops for optimum yield Pathak
and income. ICAR will provide technological
backstopping to the farmers through Amazon’s network. It
will improve farmers’ livelihood and boost crop yield.
This MoU in farmer’s partnership with Amazon Kisan
program will help ensure access to high quality fresh
produce for consumers across India, including through
Amazon Fresh.
Institute of Chartered Launch balance confirmation portal- Institute of The Institute of Chartered
Accountants of India Chartered Accountants of India and the 12 public-sector Accountants of India
lenders in India plan to come up with a portal in three Headquarters: New Delhi
months that will confirm account balances of
companies, providing more transparency, efficiency and President: Aniket Sunil Talati
reducing auditing costs, people familiar with the proposal.
The platform will be owned by the Institute of Chartered
Accountants of India and the Indian Banks’
Association.
National Stock of India Launch investor-awareness project- The National Stock NSE
of India (NSE), has signed a tri-partite MoU with the
Higher and Technical Education Department (HTED),
Maharashtra government, and Moneybee Institute.The MD & CEO: Ashish Kumar
MoU aims to create awareness amongst the public about Chauhan
the various aspects of investing in the capital markets, and
provide relevant and practical knowledge to investors,
enabling them to make informed investment decisions.
HFCL Rs 80 crore order from DMRC- HFCL Ltd has received a HFCL
new order worth Rs 80.92 crore from the Delhi Metro Rail
Corporation (DMRC) to set up a fiber optics transmission
system for three priority corridors of Phase IV of the MD: Mahendra Nahata
Delhi metro rail project. The company will be involved in the
design, manufacture, supply, installation, testing, and

Monthly BeePedia
June 2023

commissioning of the fibre optics transmission
system.
Indifi Technologies Rs 290 crore in the new funding round led by ICICI Indifi Technologies
Ventures- Indifi Technologies, the digital MSME lender,
Headquarters:Gurugram
has raised Rs 290 crore in the fifth round of funding led
by ICICI Ventures. Existing investors including British CEO: Alok Mittal
International Investment, OP Finnfund Global Impact Fund
I, Omidyar Network India, Flourish Ventures and
CXPartners also participated in the funding round.The
company plans to utilise these funds to add new
product lines and increase its customer base.
Amp Energy India Secures $250-mn funding- Energy transition platform Amp Energy India
Amp Energy India has secured up to $250 million (about
₹2,061 crore) from SMBC Bank of Japan (Sumitomo
Mitsui Banking Corporation), ICG (Intermediate Capital CEO: Pinaki Bhattacharyya
Group), and AIIB (Asian Infrastructure Investment
Bank). Amp Energy India provides renewable energy
transition solutions to marquee customers across 10
diverse sectors — pharmaceutical, automobiles,
cement, steel, heavy engineering infrastructure, FMCG,
educational institutions, IT & data centres, utilities, and
government bodies.
HCLTech Train 18,000 experts- HCLTech and Google Cloud HCLTech

& announced the expansion of their strategic partnership
Headquarters: Noida
Google Cloud to help enterprises leverage generative artificial
intelligence (AI) and develop joint solutions on Google CEO: C Vijayakumar
Cloud’s generative AI technologies.As part of this
Google
expanded partnership, HCLTech will train more than
18,000 people on Google Cloud generative AI Headquarters: California, United
technologies and innovate new solutions to help States
businesses improve efficiency, enhance employee
experiences and maximize value from their business CEO: Sundar Pichai
data.
Samsung India Largest premium experience store in Telangana- Samsung Electronics

Samsung India has inaugurated its largest premium
Headquarters: Suwon-si, South
experience store in Telangana. The new store will
Korea
highlight Samsung's entire product ecosystem through
exciting zones centred on its connected ecosystem Founder: Lee Byung-chul
SmartThings, smartphones, laptops, audio, gaming,
and lifestyle televisions.
TVS Motor Company Motorcycle expedition in Ladakh- The Indian Navy, in

& continuation with celebrating its ‘Azadi ka Amrit -
Indian Navy Mahotsav’ has partnered with TVS Motor Company, to
embark on a motorcycle expedition in Ladakh, the land
of high passes. Through the journey, over 34 officers would

Monthly BeePedia
June 2023

ride the TVS Apache RTR 200 4V and TVS Apache RR
310 motorcycles, passing through Chandigarh, Jammu,
Srinagar, Kargil & Nubra, before reaching Leh.
HCLTech Adoption of generative AI- HCLTech and Microsoft, has HCLTech

& expanded their strategic partnership to help enterprises
Headquarters: Noida
Microsoft leverage generative artificial intelligence (AI) and
develop joint solutions to enable businesses to achieve CEO: C Vijayakumar
better outcomes and enhance business transformation.
Microsoft
HCLTech will establish a Microsoft Cloud Generative AI
Center of Excellence (GenAI CoE) focused on developing Headquarters: Washington, US
industry-specific solutions leveraging the power of
CEO: Satya Nadella
generative AI to offer personalised and data-driven
experiences to customers, improve decision-making
processes and drive business growth.
Inkle New platform for cross-border payments for startups- Inkle

Chat-based CPA software-as-a-service (SaaS) startup Inkle
Headquarters: Cambridge, United
has launched a platform, Inkle Transfer Pricing Kingdom
Payments, to allow startups to make cross-border
payments from the United States of America (USA) to CEO: Anand Krishna
India. The funds can be transferred within one day.
Customers will be charged a fixed markup of up to 0.50
percent on the mid-market forex rate. Besides, startups
will get free Foreign Inward Remittance Advice (FIRA) for
each transfer on the software.
Tata Steel Low carbon steel-making tech- Tata Steel has partnered Tata Steel Ltd
& with Germany's SMS group to explore development of low
SMS group carbon steel making process.As part of the MoU, both
companies shall undertake further technical discussions CEO: T. V. Narendran
and initiate actions for conducting Joint Industrial
Demonstration of the EASyMelt technology developed SMS group
by SMS group The EASyMelt (electric-assisted syngas Headquarters: Germany
smelter) technology is an iron-making solution that can be
implemented in existing integrated steel plants to CEO: Burkhard Dahmen
accelerate decarbonisation.
IndusInd Bank Offer low-cost and online inward remittance services- Indulsnd Bank
& IndusInd Bank has entered into a partnership with Wise,
Wise the global technology company specialising in moving
and managing money around the world, to offer online Registered Office:Pune
inward remittance services to Non-Resident Indians
(NRIs) residing in US and Singapore.IndusInd Bank’s CEO: Sumant Kathpalia
multi-partner remittance service platform - Indus Fast Remit Wise

(IFR) and Wise Platform have integrated to offer multi-
Headquarters: London
currency inward remittance service to NRIs.
CEO: Kristo Käärmann

Monthly BeePedia
June 2023

Sun Life Asia Service Rebrands itself as Sun Life Global Solutions- Sun Life Sun Life Asia Service
Centres Asia Service Centres (ASC), a global capability centre Centres
(GCC) for the Canadian insurance and asset management Headquarters: Gurugram
major, Sun Life, has repositioned itself as Sun Life Global
Solutions (SLGS). MD: Tarun Sareen
ITI Ltd, TCIL Develop products for smart cities- ITI Ltd has signed an Indian Telephone Industries
& MoU with Centre for Development of Telematics (C-DOT Limited
C-DOT ) and Telecommunications Consultants India Limited Headquarters: Bengaluru
(TCIL) to produce new products and services for smart
cities. This aims at establishing a framework for CMD: Rajesh Rai
cooperation between the three in creating and delivering Telecommunications

of innovative telecommunication products and related Consultants India
services for Smart Cities.
CMD: Sanjeev Kumar
Centre For Development Of

Telematics
Headquarters: Delhi
Executive Director: Rajkumar

Upadhyay
Airbnb To promote heritage tourism in India- Airbnb has signed Airbnb

& an MoU with the Ministry of Tourism to promote India’s
Headquarters: San Francisco,
Ministry of Tourism high potential as a tourism destination and to highlight United States
the country's rich cultural heritage and homestays.The
year-long partnership is a part of the ‘Soul of India’ microsite CEO: Brian Chesky
that promotes heritage stays across the country and Ministry of Tourism
also helps hosts located in untapped and emerging tourism
destinations in the country. Union Minister: G. Kishan Reddy
HPCL Open vehicle service centres in India- Hindustan HPCL

Petroleum Corporation Ltd (HPCL) has partnered with
Automin Car Services, a subsidiary of Saudi Arabia's
Petromin Corporation, to open co-branded HP-Petromin Chairman & MD: Pushp Kumar
Express vehicle service centres in India.This strategic Joshi
partnership aims to provide world-class customer
experiences at affordable prices and offer a
comprehensive range of solutions under one roof,
including lube change, light repairs, periodic
maintenance, battery replacements, tire services, air
conditioning repairs and eco car wash facilities.
Pratt & Whitney AI-based aircraft engine analysis tool-Engine maker Pratt & Whitney
& Pratt & Whitney (P&W) has collaborated with an Indian
Headquarters: Connecticut,
Awiros start-up, Awiros, to launch an advanced artificial United States
intelligence (AI)-based aircraft engine analysis tool. The

Monthly BeePedia
June 2023

tool called ‘Percept’ is a computer vision product that President: Christopher Calio
operates on top of a video intelligence operating
Awiros
system. It has a cloud-based interface that will allow users
to capture images and videos of aircraft engines on Headquarters: Gurugram
their mobile devices and receive real-time responses on
CEO: Vikram Gupta
availability of parts. This would enable faster and cost-
efficient turnaround of leased engine assets.
Tata Consultancy £1.5 billion contract with UK's NEST- Tata Consultancy TCS
Services Services (TCS) has expanded its partnership with UK’s
& National Employment Savings Trust (NEST). The deal
NEST that potentially covers 18 years is worth £1.5 billion CEO: K Krithivasan
(approximately $1.9 billion).The contract will be for a National Employment
minimum term of 10 years, with an optional extension Savings Trust
period of up to five years, and the option of an additional
period of up to three years for exit. Headquarters: Peterborough,
United Kingdom
As part of the partnership, TCS will help NEST transform its
administration services using a digitally enabled, CEO: Helen Dean
omnichannel platform powered by TCS BaNCS.It will

leverage the latest technologies and data analytics to
deliver personalised, self-directed experiences to members.
Manipal Technologies Offer customised banking products- Manipal Manipal Technologies

& Technologies Limited has partnered with state-owned
Headquarters: Manipal,Karnataka
Indian Bank Indian Bank to drive financial inclusion by offering
customised banking products.The partnership aims to MD & CEO: Abhay Anant Gupte
build a sustainable network of corporate business
correspondents (CBCs) that will enhance the availability,
affordability, and accessibility of financial services,
particularly in underserved markets and rural areas.
GoKwik Enable D2C brands increase conversions- GoKwik and GoKwik

& CRED partnered to extend CRED’s payment options to
CRED brands on the GoKwik platform. The partnership is aimed
to enhance the online shopping experience and enable trust CEO: Chirag Taneja
for D2C merchants on the GoKwik checkout platform.
CRED
Headquarters: Bengaluru
CEO: Kunal Shah
Axis Bank One-View- Axis Bank has launched its latest feature, Axis Bank
‘One-View’, on Axis Mobile Application. Axis Bank is the
Registered Office: Ahmedabad
first private sector Bank to introduce this new-age banking
feature leveraging the Account Aggregator ecosystem Corporate Office: Mumbai
to create a seamless banking experience for its customers.
MD &CEO: Amitabh Chaudhry
This feature simplifies the process of managing
finances for customers, by providing them access to
multiple bank accounts on one single platform, enabling

Monthly BeePedia
June 2023

them to track their balances and spending on a real-time
basis.
BEL Address requirements of defence, telecom, Railway Bharat Electronics

& sectors- Bharat Electronics Limited (BEL) has signed an
HFCL MoU with tech company HFCL Limited to indigenously
develop and deploy emerging technologies and CMD: Bhanu Prakash Srivastava
technical solutions to address the requirements of
defence, telecom and railway sectors. As part of this HFCL
MoU, BEL and HFCL shall pursue business Headquarters: New Delhi
opportunities, capitalising on their domain expertise,
technological strengths and market presence to enhance MD: Mahendra Nahata
the nation’s capabilities in Defence and contribute to the
growth of telecommunications infrastructure and other
critical, developing sectors.
Lloyds Banking Group Tech centre in Hyderabad-The UK-based Lloyds Lloyds Banking Group
Banking Group has decided to invest in a new
Headquarters: Edinburgh, United
technology centre in Hyderabad. The Lloyds Technology
Kingdom
Centre is a part of the group’s £3 billion strategic
investment over the next three years to transform its CEO: Charlie Nunn
digital offering. The group, with over 20 million digitally
active users, will initially employ around 600 highly
skilled specialists in technology, data and cyber security
roles as it further enhances the group’s customer
experience and builds its in-house technical capability.
Amazon Invest an additional $15 bn in India- Amazon is upping Amazon

its investment in India by committing an additional $15
Headquarters:Washington,US
billion in the country over the next 7 years. This will take
Amazon's total India investment across all businesses to CEO: Andy Jassy
$26 billion. Amazon has pledged to digitise 10 million
small businesses, enable $20 billion in exports, and
create 2 million jobs in India by 2025.
Paytm Creating startup ecosystem- Paytm Payment Services Paytm

& Limited (PPSL) has signed an MoU with Arunachal
Headquarters: Noida
Arunachal Pradesh Pradesh Innovation and Investment Park (APIIP) to
create a startup ecosystem for the youth in the CEO: Vijay Shekhar Sharma
northeastern state. Paytm Incubation Centre will provide
its product to early-stage startups at a discounted price and
offer free credits through the Paytm Startup toolkit to aid
the business ventures of youths in their early stage of
growth.
Aditya Birla Sun Life ABSLI Nishchit Pension Plan- Aditya Birla Sun Life Aditya Birla Sun Life
Insurance Insurance Company Limited (ABSLI), a subsidiary of Insurance
Aditya Birla Capital Limited (ABCL), has launched a new Headquarters: Mumbai
retirement solution called ABSLI Nishchit Pension Plan.
This plan is specifically designed to help individuals plan for MD & CEO: Kamlesh Rao

Monthly BeePedia
June 2023

their retirement by providing a 100% guaranteed corpus,
ensuring a secure and uninterrupted income during their
golden years.
Lulu Group Invest Rs 10k Cr in India over 3 years-UAE-based Lulu LuLu Group International
Group will be investing Rs 10,000 crore in India on various
Headquarters: Abu Dhabi, United
ongoing projects over the next three years and the UAE- Arab Emirates
based conglomerate has invested over Rs 20,000 crore in
the country. The aim is to provide employment to 50,000 CMD: Yusuffali M A
people in India and so far his various enterprises have
given over 22,000 jobs.
Infosys Will help in digital transformation-Infosys has signed a Infosys

& strategic collaboration with Danske Bank to help
Danske Bank accelerate the digital transformation of the bank with
speed and scale. The deal value is $454 million for a CEO: Salil Parekh
period of 5 years with an option to renew for one
additional year for a maximum of three times. As part of Danske Bank
the deal, Infosys will also acquire Danske Bank’s IT Headquarters: Copenhagen, Den
center in India, where over 1,400 professionals are
employed. CEO: Carsten Rasch Egeriis mark
ThoughtSpot Acquisition- AI-powered analytics firm ThoughtSpot has ThoughtSpot

signed an agreement to acquire business intelligence
company Mode Analytics for $200 million, in a move to
States
double its customer base.
CEO: Sudheesh Nair
DealShare Invest Rs 1,000 cr in SMEs in 5 yrs- Social e-commerce

platform DealShare will invest Rs 1,000 crore in small and
medium Indian brands, including its own private labels,
over the next five years.The Bengaluru-based company -
will invest in six states: Rajasthan, Haryana, Uttar
Pradesh, Himachal Pradesh, Gujarat and Maharashtra.
P&G India Invest Rs 2,000 cr to set-up manufacturing facility in Procter & Gamble
Gujarat- Procter & Gamble (P&G) India will invest Rs
Headquarters: Ohio, United
2,000 crore to set up a personal healthcare manufacturing States
facility in Sanand Gujarat. The manufacturing plant will
produce products that are part of P&G’s global healthcare CEO: Jon R. Moeller
product portfolio, especially digestives.
Cognizant Build $1 billion business- Cognizant and ServiceNow Cognizant

& have entered into a strategic partnership to advance the
Headquarters: New Jersey,
ServiceNow adoption of artificial intelligence (AI)-driven automation
United States
across industries. The expanded alliance is expected to
accelerate the path toward building a $1-billion combined CEO: Ravi Kumar S
business for Cognizant and ServiceNow. ServiceNow

Monthly BeePedia
June 2023

States
CEO: Bill McDermott
TVS Motor Company Ensure greener, cheaper last-mile mobility- TVS Motor TVS Motor Company
& Company and the food order delivery platform, Zomato
Zomato have come together in a strategic association to ensure a
green and sustainable mobility ecosystem, pushing the CEO: K. N. Radhakrishnan
electric mobility drive in the country forward.As a part of the
partnership, TVS will develop electricity-powered two- Zomato
wheelers which will be used by Zomato delivery personnel. Headquarters: Gurugram
CEO: Deepinder Goyal
Caspian Equity Launch Rs 250 cr fund for investment in state SMEs in Caspian Equity
& agriculture- Impact investment firm Caspian Impact
Headquarters: Telangana
Assam govt Investment Adviser (Caspian Equity) has entered into an
MoU with the Assam Rural Infrastructure and CEO: Saurabh Johri
Agricultural Society (ARIAS), an autonomous body under
the Assam government to launch an investment fund
focusing on SMEs in the agribusiness and allied sectors
in the state of Assam. Under the MoU, ARIAS will be
establishing and implementing a contributory and
determinate investment trust Assam Agribusiness
Investment Fund (AAIF).The fund will have a corpus of Rs
250 crores and will be managed by Caspian Equity.
NTT Ltd. Data centre campus-Global IT infrastructure and services NTT Ltd.
firm NTT Ltd. is set to invest worth $300 million in its data
Headquarters: Tokyo,Japan
centre campus in Chennai, as it launched its latest facility
and the landing of a new subsea cable in the city. The CEO: Akira Shimada
Japan-headquartered company opened its ‘Chennai 2’
campus located in Ambattur, an industrial suburb of
Chennai. It is connected with MIST subsea cable, the first
cable system of the NTT group that provides direct
connectivity to or from India. MIST is the first cable
system with a 12-fibre pair capacity – capable of carrying
data at more than 200 terabyte per second – to land in
India.
Nasscom First UK launchpad for Indian tech SMEs-Nasscom has NASSCOM

& entered into an MoU with the investment promotion agency
Headquarters: Noida, & New
Manchester of Manchester in the UK — MIDAS and MAG (Manchester
Delhi
Airports Group) to allow Indian technology SMEs foray into
the UK market and grow thesir business. Chairperson: Krishnan
Ramanujam
NPCI Provide Premium Airport Lounges And Travel NPCI

& Experiences To RuPay Cardholders In India- Priority

Monthly BeePedia
June 2023

Priority PassTM PassTM Access India, a leading domestic airport lounge Headquarters:Mumbai
Access India and travel experiences programme, owned and operated
by Collinson, announces a new partnership with the MD & CEO: Dilip Asbe
National Payments Corporation of India (NPCI).This
partnership will enable eligible RuPay (a product of NPCI)
cardholders in India to enjoy access to over 50 premium
lounges and airport experiences across all major cities in
India simply by tapping or swiping their RuPay card on
entry. In addition, eligible cardholders of RuPay will also
enjoy access to a network of railway lounges in India.
Recent Acquistions , Mergers & Launches

Bajaj Allianz Life Launches term insurance plan for Type 2 diabetics, pre- Bajaj Allianz Life Insurance
diabetics- Bajaj Allianz Life, has launched an exclusive Headquarters: Pune
term insurance plan for Type 2 diabetic and pre-diabetic
individuals. The Bajaj Allianz Life Diabetic Term Plan Sub CEO: Tapan Singhel
8 HbA1c is first of its kind protection plan in the Indian life
insurance industry.
Kiwi Revolutionizing credit with UPI and RuPay cards- A

newly launched startup named Kiwi is making waves by
transforming how credit cards are issued and
utilized.With its innovative utilization of ‘Credit on UPI’, a
new feature introduced by the National Payments
Corporation of India (NPCI), Kiwi aims to provide Indians
with seamless access to credit using the famed UPI
ecosystem. By partnering with banks to issue RuPay
Cards, Kiwi has become one of the first apps to offer
customers the opportunity to experience Credit on UPI.
PayU Payment solution for merchants to cut costs- Digital PayU

payment service provider PayU has launched a new
Headquarters: Netherlands
programme in collaboration with Visa and Yes Bank for
businesses’ digital payments and to support the CEO: Laurent Le Moal
digitisation of SMBs in particular. The programme
Business Payment Solution Provider (BPSP) offers
flexible commercial offerings, which reduce costs for
merchants and helps improve cash flow by utilizing
credit lines provided by their commercial card issuer bank.
Also, it allows businesses to pay their vendors digitally,
by supporting them to accept commercial card payments
and automates supplier and buyer reconciliation.
MOOPAY Heat Index Insurance Plan to Farmers- mooPay, the mooPay Private Limited
fintech arm of Stellapps, has collaborated with IBISA

Monthly BeePedia
June 2023

Network, HDFC ERGO, and Gramcover to introduce an Headquarters: Bengaluru
innovative insurance plan for farmers based on the Heat
Index. This insurance plan aims to compensate mooMark CEO:
dairy farmers for income loss resulting from decreased Ranjith Mukundan
milk productivity during summer heat waves. It provides
coverage to farmers if temperatures exceed specified
limits for a predetermined number of days during a 60-day
period starting from May 1st, taking into account region-
specific parameters. Each insured cattle is eligible for a
maximum coverage of Rs 2000.
Manappuram Finance Digital money lending app- Manappuram Finance Ltd Manappuram Finance
has launched Ma-Money, a new digital lending platform. Limited
The objective of introducing the app is to provide Headquarters: Kerala
customers all the financial products offered by
Manappuram Finance under one umbrella. The app is CEO: V.P. Nandakumar
primarily targeted at customers in tier 2 and tier 3 cities. Ma-
Money offers a wide range of loans, including personal
loans, business loans, consumer durables' loans,
loans for the healthcare industry, food industry, small-
scale industries, car loans, home repair loans, among
others.
RBL Bank  ACE Fixed Deposit scheme- RBL Bank introduced its RBL Bank
ACE Fixed Deposit scheme, which offers consumers
interest rates of up to 8.50 per cent. The new savings plan
is available for terms ranging from 12 months to 20 years, MD & CEO: R. Subramaniakumar
and the customers will have additional alternatives for
banks and prizes under the new plan.
 The bank is offering a 20 basis point higher rate of

interest on callable deposits (Fixed Deposit with
Premature Withdrawal) under the scheme. Furthermore,
senior persons and super senior citizens receive 50 and
75 basis points higher interest rates, respectively. The
FD scheme requires a minimum deposit of 50 lakh and a
maximum commitment of 2 crore.
University of Lucknow Launch 'The Bharat Lab'-The University of Lucknow Rediffusion Dentsu Young &
& and advertising agency Rediffusion to launch 'The Bharat Rubicam Private Ltd.
Rediffusion Lab' to provide opportunities for faculty and students to
exchange knowledge with commerce and industry experts Headquarters: Mumbai
and know about consumer behaviour of people from MD: Sandeep Goyal
smaller cities.The Bharat Lab’ will provide collaborative
opportunities for faculty and students of the University to
exchange knowledge with industry.
Karbon Card Expense management card, Card++ -Karbon Card has Karbon Card
launched a mobile-based expense management card for
businesses and individuals wherein it offers its users

Monthly BeePedia
June 2023

uncapped cashback of upto 1%.In comparison to other CEO: Pei-fu Hsieh
prepaid instruments like UPI and debit cards, which do not
offer any cashback, Card ++ differentiates itself by
providing interesting cashback offers, incentivizing
people for their spending.
SIDBI Mission EVOLVE- SIDBI, has launched mission EVOLVE

(Electric Vehicle Operations and Lending for Vibrant
Ecosystem) in association with NITI Aayog, World Bank,
Korean-World Bank and Korean Economic -
Development Cooperation Fund (EDCF) to finance
MSMEs in the EV space.
Under the initiative, SIDBI will give MSMEs access to

affordable commercial financing for EV loans including
hosting of telematics that could help reduce financing
costs and provide data for other financial services.
Tata Consultancy Data exchange and marketplace platform on Google TCS

Services Cloud- Tata Consultancy Services (TCS), has launched
the ‘TCS Dexam’ data marketplace platform on Google
Cloud. The platform enables enterprises to democratise CEO: K. Krithivasan
and monetise data across ecosystems. TCS Dexam
provides a seamless data exchange for enterprises and
their ecosystem partners, while ensuring compliance with
data privacy, consent, and security regulations.
Wipro Innovation experience for financial services- Wipro Wipro

& Limited, has launched the Wipro Industry Innovation
Microsoft Experience for Financial Services, featuring a new suite
of banking and financial services solutions built on Microsoft CEO: Thierry Delaporte
Cloud. Microsoft and Wipro will develop new solutions to
help financial services clients accelerate growth and
deepen client relationships.The Innovation Experience
will allow financial services firms to explore new solutions in
an immersive 3D environment.
PhonePe AA Services via wholly-owned subsidiary- PhonePe has PhonePe

launched its Account Aggregator (AA) services via its
Headquarters: Maharashtra
wholly-owned subsidiary PhonePe Technology Services
(PTSPL). The AA services will enable Indian consumers to CEO: Sameer Nigam
share their financial data with regulated financial
institutions or Financial Information Users (FIUs) for
purposes such as loan applications, purchasing insurance,
receiving investment advice, among others. PTSPL has
integrated with various FIPs such as YES Bank, Federal
Bank, and AU Small Finance Bank, among others.
Bajaj Finserv Launches MF Business- Bajaj Finserv has launched its

mutual fund business. The entry of Bajaj Finserv Mutual

Monthly BeePedia
June 2023

Fund is expected to intensify the competition in the 40-
member strong industry which manages assets of over -
₹41.5 lakh crore.
Kotak Private Banking Kotak Réserve-Kotak Private Banking – a division of Kotak Mahindra Bank
Kotak Mahindra Bank Limited has launched the Kotak
Réserve – a Savings Programme* curated for UHNIs and
HNIs. Extending services beyond banking, this by-invite CEO: Uday Kotak
programme offers a range of exclusive services
designed to provide clients with a luxury banking
experience. Through this Savings programme, Kotak
Private Banking aims to provide an unparalleled premium
banking experience through a host of exclusive lifestyle
offerings across travel, health & wellness, and
entertainment, amongst others.
Bank of Baroda Cash withdrawal facility via UPI on its ATMs-Bank of

Baroda has launched the Interoperable Cardless Cash
Withdrawal (ICCW) facility wherein a customer can
withdraw cash using UPI from the bank's ATMs. The first -
public sector bank to launch this service, Bank of Baroda
customers as well as customers of other participating
issuer banks that use BHIM UPI, bob World UPI or any
other UPI application enabled for ICCW on their mobile
phone can withdraw cash from a Bank of Baroda ATM
without using their debit card.
State Bank of India Project Kuber in Bengaluru-The State Bank of India has SBI
launched Project Kuber having four transaction banking
hubs and one corporate salary package hub in
Bengaluru.The objective is to source, facilitate, and cater Chairperson: Dinesh Kumar
to the various banking needs of customers, and these Khara
hubs will help increase SBI’s market share in liability
products.
HDFC Bank Millennia Credit Card- HDFC Bank has launched the
Millennia Credit Card, which is tailored to the lives and
objectives of millennials. The card is full of perks and
features geared towards the digital-first generation. The
HDFC Millennia cashback credit card offers Cash Points on
all transactions made on various platforms such as
Amazon, Flipkart, and others. This card, in addition to the
benefits of online transactions, provides 1% cash back on
offline purchases, free lounge admission, gift vouchers,
and other perks.
Kerala government Kerala Fiber Optic Network (KFON) scheme- Kerala About Kerela
government has launched the Kerala Fiber Optic
Capital: Thiruvananthapuram
Network (KFON) scheme for digital empowerment. The
aim is to provide internet access to all households Chief minister: Pinarayi Vijayan

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June 2023

across the state that are below poverty line (BPL). The Governor: Arif Mohammed Khan
KFON scheme aims to bridge the digital divide and ensure
that every citizen has access to the vast opportunities
offered by the online world, especially when the internet
has become an indispensable tool for education,
employment, communication, and accessing government
services.
Google Consulting Service to Help Clients Use AI- Google has

launched four new generative AI consulting offerings
designed to help customers activate their AI
deployments.The offerings will help customers use AI to -
discover trends within their company data using AI-
enhanced search engines and assistive experiences,
summarise information from large volumes of content,
automate time-consuming and expensive business
processes, and assist in creating new content that's
more personalized.
Bank of Baroda UPI facility in ATMs- Bank of Baroda (BoB) recently Bank of Baroda
announced a new way to withdraw cash via the Unified
Headquarters:Vadodara
Payments Interface (UPI) in all its ATMs. The new facility
aims to protect people from cloning, impersonation and MD & CEO: Debadatta Chand
fraud. It generates a unique QR code for every transaction.
With ATM UPI service, customers can avail of only two
transactions per day per account, and at a limit of
₹5,000.
Canada Pension Plan Sells 1.77% stake in Kotak Mahindra Bank- Canada CPP Investment Board
Investment Board Pension Plan Investment Board (CPPIB) has sold 1.7 per
Headquarters: Toronto, Canada
(CPPIB) cent stake in private sector lender Kotak Mahindra Bank.
The pension major sold a total of 33 million shares at Rs CEO: John Graham
1,856 apiece to mop up Rs 6,123.6 crore.
VLCC Health Care Acquire Ustraa for Rs 61 crore- VLCC Health Care will VLCC Health Care Limited
acquire Happily Unmarried Marketing which runs the D2C
Corporate Office: Gurugram
men’s grooming brand Ustraa via a mix of cash and share
swap for Rs 61 crore. CEO: Vikas Gupta
Allcargo Logistics Acquisition of 30% stake in Gati subsidiary- Allcargo Allcargo Logistics
Logistics Ltd has completed the acquisition of 150,000
shares, or 30 per cent stake, in Gati‐Kintetsu Express
(GKEPL) for Rs 406.71 crore. Chairman: Shashi Kiran Shetty
Samco Mutual Fund SAMCO Active Momentum Fund- SAMCO Asset Samco Mutual Fund
Management Private Limited has announced the launch
of India's first actively-managed momentum fund - SAMCO
Active Momentum Fund. The fund aims to deliver CEO: Viraj Gandhi
exceptional risk-adjusted returns to investors, tapping

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June 2023

into the immense potential of momentum investing in the
Indian market.
Sequoia Capital Sell 10% stake in Go Fashion- The India arm of US Sequoia Capital
venture capital firm Sequoia Capital is planning to sell a
10 per cent stake in Go Fashion (India) worth Rs 625
States
crore in block deals.
President: Bob Lawson
Indian Overseas Bank My Account My Name Scheme- Indian Overseas Bank Indian Overseas Bank
(IOB) has introduced a scheme that lets customers choose
any name as their savings account number with the
bank. The scheme called ‘My Account My Name’ will be CEO: Ajay Kumar Srivastava
available at all 49 regional offices of the IOB in India. As
per the scheme, the account name can be a combination
of seven letters, or seven numbers, or seven
alphanumeric only like AJIT007, PRADHAN, or 2424707
etc.
Customers will not be required to remember their 15

digits account numbers. To begin with, the scheme is
available for IOB SB HNI and IOB SB SALARY account
customers.
Assam government Credit Guarantee Scheme for MSMEs- Assam Assam government
government has launched the Assam Credit Guarantee
Capital: Dispur
Scheme (Assam CGS, or ACGS) this year to enable small
businesses in the state to access formal credit without Chief minister: Himanta Biswa
collateral. The state government has partnered with Sarma
Credit Guarantee Fund Trust for Micro and Small
Governor: Gulab Chand Kataria
Enterprises (CGTMSE), jointly set up by the MSME
Ministry and Small Industries Development Bank of
India (SIDBI), to increase the flow of institutional credit
to micro and small enterprises (MSEs) in the state.
Karnataka Vikas Vikas Ashadeep 400 days- Karnataka Vikas Grameena Karnataka Vikas Grameena
Grameena Bank Bank (KVGB) has launched a new deposit scheme ‘Vikas Bank
(KVGB) Ashadeep 400 days’. The scheme is of a tenor of 400 days Headquarters: Dharwad,
with an interest rate of 7.50 per cent for senior citizens Karnataka
and 7 per cent for general public.Under the scheme, a
Chairman: Shreekant M
minimum of ₹10,000 and a maximum of ₹2 crore can be
Bhandiwad
deposited.
South Indian Bank Digital platform for hassle-free account opening- South South Indian Bank
Indian Bank has introduced SIB SWIFTe, an innovative
Headquarters: Thrissur
and customer-centric digital account opening platform
that eliminates the hassle of paper-based CEO: Murali Ramakrishnan
documentation. The platform prioritises customer
convenience and transforms the account opening
process, enabling the bank to swiftly on-board customers

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June 2023

in less than five minutes. It provides a seamless start-to-
finish digital experience for opening a Savings
Account.
OYO Stay now pay later- Hospitality firm OYO has launched a OYO Rooms
stay now pay later (SNPL) programme that will give Indian
travellers flexibility in planning their summer travel.OYO has
partnered Simpl, a credit-based payments service, for CEO: Ritesh Agarwal
the programme. SNPL will provide customers with a credit
limit of up to Rs 5,000 which can be settled after 15 days
of a hotel stay. It can be accessed on the home screen of
the OYO app. Customers can then opt for the SNPL plan
suiting their requirements.
PhonePe Payment gateway with zero setup- PhonePe has PhonePe

launched the PhonePe Payment Gateway with a special
Headquarters:Maharashtra
limited-period offer for new MSME merchants. It is offering
free onboarding to new merchants with no hidden CEO: Sameer Nigam
charges, setup fees, or annual maintenance fees while
most payment gateways charge a standard transaction
fee of 2 percent. The free services could help merchants —
who have a monthly sales volume of Rs 1 crore — save up
to Rs 8 lakhs and potentially around Rs 2 lakh per
month with zero onboarding costs.
Fino Payments Bank Introduce spending account-Fino Payments Bank has Fino Payments Bank
entered into a tie-up with Sequoia Capital-backed fintech
Hubble to introduce India’s first spending account.The
customers can park their funds, spend (on categories MD & CEO: Rishi Gupta
such as food ordering, shopping, travel, entertainment
etc.) and save up to 10 per cent on all purchases made from
the account.
Binance AMP Summer Internship-Cryptocurrency exchange Binance

Binance has launched its inaugural AMP summer
Headquarters: China
internship program. The internship program aims to foster
talent and drive innovation in the Web3 industry. The CEO: Changpeng Zhao
summer internship will last for 10 weeks and provide
“cross-functional learning opportunities for interns to
rotate across different teams, including marketing,
customer service.
Max Life Insurance Smart Wealth Advantage Growth Par Plan- Max Life Max Life Insurance
Insurance Company has launched the Smart Wealth
Advantage Growth Par Plan. It is a non-linked participating
individual life insurance savings plan, which aims to provide CEO: Prashant Tripathy
individuals with financial protection and savings
accumulation. These types of plans combine the benefits
of life insurance coverage with savings. They also offer

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June 2023

death benefit that ensures financial protection for
beneficiaries in case of the policyholder’s demise.
Google Train and support Indian local news publishers- Google Google
News Initiative has launched a new programme to
provide Indian publishers training, technical support and
States
funding to improve digital operations and reach more
readers.Under the Indian Languages Program, selected CEO: Sundar Pichai
publishers will be diagnosed for their page speed, core web
vitals performance and other parameters. The evaluation
will provide guidance on quality signals essential for
user experience on the web.
Highdell Investment Sells 6.2 per cent stake- Highdell Investment, owned by Warburg Pincus
US-based private equity major Warburg Pincus, has
Headquarters: New York, United
divested a 6.2 per cent stake in Kalyan Jewellers India States
Ltd for Rs 725 crore through an open market transaction.
CEO: Charles R. Kaye
Motilal Oswal AMC Motilal Oswal Nifty Microcap 250 Index Fund- Motilal Motilal Oswal AMC
Oswal Asset Management Company (MOAMC) has
launched the Motilal Oswal Nifty Microcap 250 Index
Fund, India’s only passive fund offering exposure to MD & CEO: Navin Agarwal
microcap stocks. The fund aims to provide investors an
opportunity to participate in the growth potential of
microcap stocks. Motilal Oswal Nifty Microcap 250 Index
Fund is an open-ended fund replicating/tracking the total
returns of the Nifty Microcap 250 Index.
Abrdn Sell its entire 10.2% stake- UK-headquartered investment Abrdn

& firm abrdn Investment Management will offload its entire
Headquarters: Edinburgh, United
HDFC AMC 10.2 per cent stake in HDFC Asset Management
Kingdom
Company via block deals. The proceeds from the sale will
amount to Rs 3,920 crore. After the stake sale, abrdn will CEO: Stephen Bird
cease to be a co-sponsor of HDFC Mutual Fund. HDFC Asset Management
Co Ltd
Chairman: Deepak S. Parekh
Max Life Insurance Buys 2.99% Stake in Capital SFB- Max Life Insurance Max Life Insurance
has picked up a 2.99% stake in Capital Small Finance
Bank for ₹49.5 crore, valuing the bank ₹1,653 crore.
CEO: Prashant Tripathy
Sberbank Launches Indian rupee accounts- Russia’s dominant Sberbank Rossii PAO
lender Sberbank has provided the facility for individuals
Headquarters: Moscow
to now open accounts in Indian rupees, expanding the

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June 2023

range of foreign currencies available as Moscow strives to CEO: Herman Gref
reduce dependency on the U.S. dollar and euro.
Carlyle Sell 2.53% in Delhivery - American private equity firm The Carlyle Group
Carlyle will sell a 2.53% stake in e-commerce logistics
Headquarters: Washington, D.C.,
company Delhivery which will fetch as much as ₹709.5 United States
crore, or $86 million.
CEO: William E. Conway, Jr
Kauvery Hospitals Acquires Fortis Hospital in Vadapalani- Chennai-based Kauvery Hospital

Sri Kauvery Medical Care (India) (Kauvery Hospitals) has Headquarters: Tiruchirappalli
signed definitive agreements to acquire hospital
business operations of Fortis Healthcare at MD: Manivannan Selvaraj
Vadapalani, Chennai.With the acquisition of the
Vadapalani facility with over 200 beds, Kauvery would
have over 750 beds in Chennai together with its existing
facilities at Alwarpet and Radial Road. This is in line with
Kauvery’s strategy to further expand its presence in
Chennai and have more than over 1,000 beds in
Chennai in the next 18 months.
InCred Money Corporate bonds with fixed returns of 12.5% p.a.- InCred InCred Money
Money, the retail wealth-tech arm of the InCred Group, has Headquarters: Mumbai
launched its first product, corporate bonds, with an
issuance that offers investors fixed returns of 12.5% p.a. CEO: Bhupinder Singh
The investor-first, curated alternate asset platform enables
diversification and wealth creation through a user-
friendly process, democratizing access to products
previously available only to Ultra HNIs and Institutions.
Life Insurance LIC Dhan Vridhhi- LIC Dhan Vridhhi is a non-linked, LIC
Corporation non-participating, individual, savings, single premium
Life Insurance plan offering a combination of protection
and savings. This plan will provide support to he family in Chairman: Siddhartha Mohanty
case of unfortunate death of the life assured during the
policy term. It will also provide a guaranteed lump sum
amount on the date of maturity.
Aditya Birla Sun Life ABSLI Nishchit Pension Plan- Aditya Birla Sun Life Aditya Birla Sun Life
Insurance Insurance Company Limited (ABSLI), a subsidiary of Insurance
Aditya Birla Capital Limited (ABCL), has launched a new Headquarters: Mumbai
retirement solution called ABSLI Nishchit Pension Plan.
This plan is specifically designed to help individuals plan for MD & CEO: Kamlesh Rao
their retirement by providing a 100% guaranteed corpus,
ensuring a secure and uninterrupted income during their
golden years.
Canara Bank Allow UPI payments through credit cards-Canara Bank Canara Bank
has become the first Public Sector Bank in India to
introduce the facility of UPI payments to merchants

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June 2023

through RuPay Credit Card. Customers of the Canara Bank Headquarters: Bengaluru
will now be able to make UPI payments to merchants from
Executive Director: K
their RuPay Credit Cards also in addition to their bank
Satyanarayana Raju
accounts. Customers can link their Canara Bank RuPay
Credit Cards to their UPI IDs.
HDFC Buys HDFC Life Shares Worth Over Rs 992 cr- Mortgage Housing Development
financier HDFC has picked up 14.9 million shares of Finance Corporation
HDFC Life Insurance Company for over Rs992 crore Headquarters: Mumbai
through an open market transaction.
CEO: Keki M. Mistry
GQG Partners Invests $1 billion to buy additional stake- American GQG Partners Inc
financial powerhouse GQG Partners (GQG), along with
Headquarters: Florida, United
other investors, acquired shares worth $1 billion (Rs. States
8,200 crore) in the Adani Enterprises Limited (AEL) and
CEO: Tim Carver
Adani Green Energy Limited (AGEL) via block deals.
About 48 million shares, or 3 per cent of the total equity of
AGEL, and a 1.6 per cent stake, or 18 million shares, in
AEL, were sold via block deals to GQG.
Tata Communications Acquisition- Tata Communications would acquire NYSE- Tata Communications
listed Kaleyra, a global omnichannel integrated
communication services provider. Tata Communications
has agreed to acquire Kaleyra at a price per share of $7.25, CEO: Amur Swaminathan
for a total consideration to Kaleyra shareholders of Lakshminarayanan
approximately $100 million, besides the assumption of all
outstanding debt.
ICICI Lombard General Ishield- ICICI Lombard General Insurance and ICICI ICICI Lombard
Insurance Prudential Life Insurance have jointly launched a combi
& product, ‘iShield’, which will provide customers with both
ICICI Prudential Life health and life insurance under the “use and file” CEO: Bhargav Dasgupta
Insurance procedure. ‘iShield’ will enable customers to take care of
ICICI Prudential Life
expenses required for medical treatments. Besides, it will Insurance
also provide a lumpsum amount to the family in case of
the unfortunate demise of the policyholder. Headquarters: Mumbai
CEO: Anup Bagchi
Coromandel 32.68% in drone major Dhaksha-Coromandel Coromandel International

International International, through its wholly-owned subsidiary
Headquarters: Secunderabad
Coromandel Technology Limited (CTL), is acquiring an
additional 32.68 per cent equity stake in Dhaksha Chairman: A Vellayan
Unmanned Systems (Dhaksha), a Chennai-based
differentiated drone start-up at an outlay of Rs 204 crore.
The Murugappa Group had earlier acquired 18.34 per cent
in Daksha through its investment arm Dare Ventures. With

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June 2023

this acquisition, Coromandel will be holding a majority (51
per cent) stake in Dhaksha.
Bank of India Centralised Pool Buy-Out and Co-Lending Cell-Bank of Bank of India
India has launched a ‘Centralized Pool Buy-Out and Co-
Lending Cell’ to boost priority sector lending. The Cell,
will be equipped with an end-to-end digital underwriting MD & CEO: Rajneesh Karnatak
system to onboard pool buy-out and co-lending of
loans in partnership with NBFCs (non-banking finance
companies). Through this platform, seamless integration
will be provided between the Bank and multiple
NBFCs.The Cell will onboard loan assets under Retail,
MSME and the Agriculture segment with a dedicated team.
SEBI and FINANCIAL AWARENESS
SEBI releases bond trading guidelines on RFQ platform to increase liquidity
 SEBI has come out with guidelines for transactions in corporate bonds through Request for Quote
(RFQ) platform by stock brokers in order to increase liquidity on the platform.
 For all the trades in proprietary capacity, stock brokers will have to undertake at least 10 per cent
of their total secondary market trades by value in corporate bonds in that month by placing quotes
through one-to-one or one-to-many mode on the RFQ platform of stock exchanges from July 1, and
further, the percentage will increase to 25 per cent from April next year.
 Stock brokers will have to consider the trades executed by value through one-to-one (OTO) or one-to-
many (OTM) mode of RFQ with respect to the total secondary market trades in corporate bonds,
during the current month and immediately preceding two months on a rolling basis.
Learn Along:
SEBI Headquarters: Mumbai Chairman: Madhabi Puri Buch
A request for quote (RFQ), sometimes also known as an invitation for bid (IFB), is a document that asks suppliers to
provide price quotes for the chance to fulfill a task or project. Some companies send RFQs as standalone requests, or
as part of the request for proposal (RFP) process.
SEBI provides a framework for upstreaming of clients’ funds by brokers to clearing corps
 To safeguard clients’ funds, SEBI has come out with a framework that requires the upstreaming of
all client funds received by stock brokers to clearing corporations.Under the framework, no clients’
funds will be retained by stock brokers on an end-of-day (EoD) basis.
 Further, clients’ funds will be upstreamed by stock brokers and clearing members to clearing
corporations (CCs) only in the form of either cash, lien (a legal claim or legal right which is made against
the assets that are held as collaterals for satisfying a debt ) on Fixed Deposit Receipt (FDR) or pledge
of units of mutual fund overnight schemes.

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June 2023
 Other than the FDRs (liened to CCs) and mutual fund overnight scheme (pledged to CCs), any remaining
client funds with brokers will be upstreamed to a CC before a stipulated cut-off time.The new
framework will come into effect from July 1, 2023.
 With regards to upstreaming through FDRs created out of clients’ funds, the stock brokers may create
FDRs out of clients’ funds only with those banks which satisfy the CC’s exposure norms.
 Further, every FDR created out of clients’ funds would necessarily be lien-marked to one of the CCs at
all times.
 The tenure of such FDRs will not be more than one year and the FDR should be pre-terminable.
Besides, the principal amount of the FDR will remain protected throughout the tenure, even after
accounting for all possible pre-termination costs.
SEBI to digitise processing of investor service requests, complaints by RTAs
 SEBI has decided to provide a mechanism for processing of investors’ service requests and
complaints through online mode by RTAs and thereafter track the status as well as obtain periodical
updates.
 The mechanism would provide benefits such as a database for service requests and complaints,
online acknowledgement and intimation to the investor and online tracking of status of service
requests and complaints by investors.
 At present, holders of physical security certificates are required to submit various documents to the
registrars to an issue and share transfer agents (RTAs) with respect to various service requests such as
issuance of duplicate security certificates, folio consolidation and services through depository
participants such as dematerialisation and rematerialisation.
 SEBI has directed qualified RTAs or QRTAs to implement the direction of an online system along with
a functional website from January 1, 2024, while the same for all RTAs is June 1, 2024.
Learn Along:
Registrar and Transfer Agents (RTA) are SEBI-registered entities that provide services related to share registry
maintenance and share transfer activities on behalf of companies that have issued shares to the public.
SEBI allows mutual funds to invest in repo transactions on commercial papers, certificate of deposits
 In a bid to boost growth of the corporate bond market, SEBI has allowed mutual funds to invest in
repo transactions in securities such as Commercial Papers and Certificate of Deposits.
 In addition, the mutual funds can participate in repo transactions only in “AA” and above-rated
corporate debt securities.
 In repo transactions, also known as a repo or sale repurchase agreement, securities are sold with the
seller agreeing to buy them back at a later date. The instrument is used for raising short-term capital.
 With regards to transactions where settlement is guaranteed by a clearing corporation, the exposure
will not be considered for the purpose of determination of investment limits for single issuer, group
issuer and sector level limits.
Learn Along:
A certificate of deposit (CD) is a savings account that holds a fixed amount of money for a fixed period of time, such
as six months, one year, or five years, and in exchange, the issuing bank pays interest. When you cash in or redeem
your CD, you receive the money you originally invested plus any interest. Certificates of deposit are considered to be
one of the safest savings options.

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June 2023
Commercial papers are a short-term debt instrument that a company issues under section 45W of the RBI Act for a
period of a maximum of 1 year. These instruments are in the nature of an unsecured money market instrument that is
in the form of a promissory note and was introduced in 1990. Commercial papers are often issued by corporates or
entities that have a high credit rating to meet their short-term requirements like funding a new project or meeting their
short-term working capital requirements.
SEBI debars Subhash Chandra, Punit Goenka from holding key positions
 The Securities and Exchange Board of India (SEBI) has debarred Zee Entertainment Enterprises
(Zee) promoter and Essel group Chairman Subhash Chandra and Managing Director (MD) and Chief
Executive Officer (CEO) Punit Goenka from holding key positions in any listed company for allegedly
diverting assets of Essel Group companies.
 The matter pertains to the Letter of Comfort (LoC) granted by Chandra in September 2018 towards credit
facilities taken by certain group companies from YES Bank. The credit amounted to Rs 200 crore.
 The allegations are that these guarantees were given without approval from the board and were used
to siphon off funds by the promoters.
SEBI introduces framework for direct mutual fund investment platforms
 The Securities and Exchange Board of India (SEBI) has introduced a regulatory framework for online
investment platforms that facilitate investments in commission-free mutual fund (MF) schemes.
 The regulation brings clarity on obligations of such platforms while opening an avenue to monetise
their business. It also addresses investor concerns on associated risks and introduces grievance
redressal mechanism.
 As per the framework, platforms providing MF investment services in direct (commission-free) plans
will have to apply for 'execution only platform' (EOP) licence either with SEBI or the Association of
Mutual Funds in India (AMFI) within three months of the regulation coming into force, which happens
in September 2023.
 As of now, these MF investment platforms operate under a stock broker or investment advisor (IA)
licence.
 Platforms of investment advisors and stock brokers will not need an EOP registration if it is open only
for their advisory or broking clients.
 SEBI has provided two options to the platforms: they can either register with AMFI and become
agents of asset management companies or register with a stock broker and become agents of
investors. Whom they charge for the services will depend on whose agent they become.
Learn Along:
AMFI Headquarters: Mumbai CEO: N.S.Venkatesh
SEBI brings out disclosure rules; asks top 100 listed companies to confirm or deny market rumour
from Oct 1,2023
 To streamline the disclosure requirements, SEBI has notified rules asking the top 100 listed
companies by market capitalisation to confirm, deny or clarify any market rumour reported in the
mainstream media from October 1.
 Further, for the top 250 listed entities, the rule will kick in from April 1, 2024. These companies will
have to “confirm, deny or clarify any reported event or information in the mainstream media which is not
general in nature and which indicates that rumours of an impending specific material event” are
circulating amongst the investing public, within 24 hours from the reporting of the information.

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June 2023
 Any special right granted to the shareholders of a listed entity will be subject to the approval of the
shareholders in a general meeting by way of a special resolution once every five years starting from
the date of grant of such special right.
 Also, all directors appointed to the board of a listed entity need to go through a periodic shareholders’
approval process, thereby providing legitimacy to the director to continue to serve on the board.
 SEBI notified that for the material events or information which arise from the listed entity, including
those related to acquisitions, Scheme of Arrangement, consolidation of shares, and buyback of
securities, the timeline for disclosure by the entity has been reduced from 24 hours to 12 hours.
 In case of information that emanates from a decision taken in a meeting of the board of directors, the
disclosure should be made within 30 minutes from the closure of such meeting.
 Also, the regulator asked listed entities to make disclosures in relation to cybersecurity incidents,
cybersecurity breaches, or loss of data and documents in the quarterly corporate governance report.
SEBI bans IIFL Securities from onboarding new clients for two years
 The Securities and Exchange Board of India (SEBI) has banned IIFL Securities from onboarding new
clients for two years for alleged misuse of client funds.
 As per the SEBI order, IIFL Securities was mixing clients’ funds with its own funds before using those
mixed funds for its own proprietary usage.
Learn Along:
IIFL Securities Headquarters: Mumbai CEO: Sandeep Bharadwaj
SEBI curbs bulk SMS scam, bars 135 entities from securities market
 The Securities and Exchange Board of India (SEBI) has restrained 135 entities from accessing the
securities market and directed them to confiscate around Rs 126 crore of wrongful gains from alleged
market manipulation done through bulk SMSes.
 It has issued show cause notice to a total of 226 entities, including several mule accounts, for alleged
market manipulation in five small cap companies namely, Vishal Fabrics, GBL Industries, Mauria
Udyog, 7NR Retail, and Darjeeling Ropeway Company.
Zee Settles Case with SEBI, Pays ₹7 lakh
 Zee Entertainment Enterprises (ZEE) has settled securities law violations with the Securities and
Exchange Board of India (SEBI) by paying ₹7 lakh as settlement charges.
 The regulator had conducted an examination in the shares of ZEE for period between January 1, 2019
to December 26, 2019 to ascertain any possible violation of its insider trading and takeover rules.
Learn Along:
Zee Entertainment Enterprises Headquarters: Mumbai CEO: Punit Goenka
SEBI bars Eros International, MD Sunil Lulla from securities market
 The Securities and Exchange Board of India (SEBI) has barred Eros International Media and four
others -- including executive vice chairman and managing director Sunil Lulla and chief executive
officer Pradeep Dwivedi -- from accessing the securities market for alleged diversion of funds and
financial misreporting. The two others are firms Eros Worldwide and Eros Digital Private.
Learn Along:
SEBI Headquarters: Mumbai Chairman: Madhabi Puri Buch

Monthly BeePedia
June 2023
SEBI introduces stricter framework for disposal of undertaking by a listed entity
 Public shareholders will now have a say in the sale or disposal of undertaking by a listed company
through slump sales as SEBI has now mandated the “majority of minority” rule for such transactions
to sail through in the coming days.
 To strengthen the extant framework of slump sale executed outside Scheme of Arrangement and
safeguard the interest of minority shareholders, SEBI has stipulated that such transactions can go
through only if majority of public shareholders vote in favour than those voting against it.
 This will have to be in addition to the requirement to pass a Special resolution, according to the latest
changes made to SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations and
now notified by SEBI.
 SEBI has also now mandated disclosure of the objects and commercial rationale for such sale,
disposal or lease, to the shareholders.
 Exemption from the “majority of minority” rule has been provided for transfers to wholly-owned
subsidiaries. However, the listed company has to comply with the latest shareholder approval
provisions in the event the wholly owned subsidiary transfers the business or the listed company dilutes
its shareholding in the subsidiary anytime
 A slump sale involves selling off an undertaking or the whole business against a lumpsum amount.
SEBI introduces standardisation for valuing AIF portfolio assets
 SEBI has made the manager and key management personnels of Alternative Investment Fund (AIF)
responsible for appointing an independent valuer of asset, and ascertaining true and fair valuation of
the investments of AIF schemes.
 In case the established policies and procedures of valuation do not result in fair and appropriate valuation,
the manager should deviate from the established policies and procedures to value the assets or
securities at a fair value and document the rationale for such deviation.
 At each asset level, in case there is a deviation of over 20 per cent between two consecutive valuations
or a deviation of over 33 per cent in a financial year, the manager shall inform the investors the
reasons for the same.
 Valuation of securities not covered by SEBI norms should be carried out as per valuation guidelines
endorsed by any AIF industry association, which has membership of at least 33 per cent of SEBI-
registered.
 The independent valuer should have at least three years of experience in valuation of unlisted
securities and should not be associated with the manager, sponsor and trustee of the AIF.
 An AIF has to obtain consent of 75 per cent of investors by value for launching ‘Liquidation Scheme’
during the liquidation period of one year of the original scheme.
 Liquidation scheme is a close-ended scheme launched by an AIF only for the purpose of liquidating
the unliquidated investments purchased from its scheme, whose tenure has expired.
Learn Along:
Alternative Investment Fund or AIF means any fund established or incorporated in India which is a privately
pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign, for
investing it in accordance with a defined investment policy for the benefit of its investors.
SEBI introduces ASBA-like facility for secondary market trading

Monthly BeePedia
June 2023
 With an aim to safeguard investors’ money from misuse and default by stock brokers, SEBI has
introduced a supplementary process for trading in the secondary market based on blocked funds in
an investor’s bank account, instead of transferring them upfront to the trading member.
 This is similar to Application Supported by Blocked Amount (ASBA)-like facility already available for
the primary market which ensures that money from an investor gets moved only when an allotment
happens.
 The new facility will become live by January 1, 2024.
 Under the framework, funds will remain in the account of client but will be blocked in favour of the
Clearing Corporation (CC) till the expiry date of the block mandate or till block is released by the CC, or
debit of the block towards obligations arising out of the trading activity of the client, whichever is earlier.
 Further, settlement for funds and securities will be done by the CC without the need for handling of
client funds and securities by the member.
 While a UPI block upon creation would be considered towards collateral, the same would also be
available for settlement purposes. For the clients who prefer to block lump sum amounts, their block
can be debited multiple times, subject to available balance, for settlement obligations across days.
 The facility will be provided by integrating Reserve Bank of India (RBI)-approved Unified Payments
Interface (UPI) mandate service of single-block-and-multiple-debits with the secondary market trading and
settlement process called ‘UPI block facility’.
 To begin with, the facility will be made available in the equity cash segment. The CCs may extend the
facility to additional segments subsequently.
Learn Along:
The ASBA full form is Application Supported by Blocked Amount. It is a highly convenient IPO application process.
This application holds authorisation to block a certain amount in the bank amount of the applicant for subscription to
an IPO issue. This blocked amount can only be utilised for IPO application purposes.
SEBI discontinues fee payment via demand draft
 SEBI will no longer accept demand drafts concerning the fee charged for requesting informal
guidance about applicability of rules.Now, the regulator will accept the fee by way of direct credit into
its bank account.
 SEBI’s Informal Guidance Scheme enables certain entities to request for informal guidance
regarding the applicability of laws and regulations administered by the markets regulator in the form
of “No Action Letters” or “Interpretive Letters” from the markets watchdog.
 Accordingly, the request under the informal guidance shall be accompanied with a fee of Rs 25,000 by
way of direct credit into the bank account of the board through NEFT/RTGS/IMPS or online payment
using the SEBI payment gateway.
SEBI tightens disclosure requirements for FPIs, reduces IPO timeline
 The Securities and Exchange Board of India (SEBI) has tightened the disclosure requirements for
foreign portfolio investors (FPIs) in a bid to get a better handle on them and prevent the possible evasion
of minimum public shareholding (MPS) and takeover norms.
 SEBI has also approved reducing the time period for the listing of shares in public issues from the
existing six days to three days from the date of issue closure.
 It has also mandated additional granular disclosures regarding ownership, economic interest, and
control of FPIs who have more than half of their holdings in a single corporate group or hold equity
assets of more than Rs 25,000 crore.

Monthly BeePedia
June 2023
 Some entities such as sovereign funds, public retail funds, and exchange-traded funds (ETFs) have
been exempted from making additional disclosures.
 Existing FPIs now have three months to bring down their single-group exposure to 50 per cent or
comply with additional disclosure requirements.
Learn Along:
Foreign portfolio investment (FPI/OPI) refers to investing in the financial assets of a foreign country, such as stocks
or bonds available on an exchange
An exchange-traded fund (ETF) is a collection of investments such as equities or bonds. ETFs will let you invest in a
large number of securities at once, and they often have cheaper fees than other types of funds. ETFs are also more
easily traded.
Financial services firm SKI Capital gets SEBI nod for Rs 600 cr fund to invest in SMEs
 SKI Capital Services, the share brokerage and financial services provider, has been registered with the
Securities and Exchange Board of India (SEBI) for its Small and Micro enterprises focused
Alternative Investment fund (AIF). SKI capital targets to raise a corpus fund of Rs 600 crores.
 The AIF registration will now enable the SKI’s capital to invest in SMEs and provide capital and financial
support to MSMEs.
Learn Along:
SKI Capital Services Headquarters: New Delhi MD: Narinder Wadhwa
Alternative Investment Fund or AIF means any fund established or incorporated in India which is a privately
pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign, for
investing it in accordance with a defined investment policy for the benefit of its investors.
NSE lays framework for administrative action against brokers for misuse of clients funds
 The National Stock Exchange (NSE) has come out with a framework for taking immediate actions
against trading members in case of misuse of client funds by them.
 In order to initiate immediate actions in critical cases where misuse of client funds is observed, the
exchange said that proprietary deposits of the trading member available with the clearing house, NSE
Clearing Ltd (NCL), will be blocked to the extent of the misuse amount or Rs 10 crore, whichever is
lower.
 In case misuse is observed with regards to “principles of enhanced supervision” for stock brokers,
the amount equivalent to the aggregate amount of all principles, will be blocked.
 Further, proprietary deposits will be blocked after two trading days from the date of communication of
the direction regarding the blocking of such deposits to the trading member.
 Such deposits will be blocked for 10 days.Moreover, no exposure will be granted to the trading
member on such deposits. The new framework will come into force from September 1,2023.
Learn Along:
NSE Headquarters: Mumbai MD & CEO: Ashish Kumar Chauhan
NSE to pay Rs 72.6 crore to settle February 2021 trading glitch case
 The National Stock Exchange (NSE) and its arm -- NSE Clearing (NCL) -- has agreed to pay a total of
Rs 72.6 crore to settle the case pertaining to the February 2021 trading glitch.

Monthly BeePedia
June 2023
 NSE and NCL will pay Rs 49.77 crore and Rs 22.88 crore, respectively, for themselves and their
employees.
NSE IX unveils new brand identity of GIFT Nifty
 NSE International Exchange (NSE IX) has unveiled a new brand identity of GIFT Nifty as a part of the
full-scale transition of SGX Nifty to Gift Nifty.
 According to the bourse, the new identity signifies a unique opportunity and new direction for
international investors to participate in India's growth story to access Nifty products through NSE IX.
 The strategic initiative between NSE IX and SGX enables Gift Nifty orders from SGX members to be
routed to NSE IFSC for trading and execution with clearing and settlement through SGX Derivatives
Clearing.
BSE Sells 4.54% Stake in CDSL Via Block Deal to Meet SEBI Norms
 BSE has sold a 4.54% stake in Central Depository Services (CDSL) through a block deal.
 The listed stock exchange sold 4.74 million shares at ₹985.98 apiece for ₹468 crore. BSE held 20% of the
total equity shares of CDSL as on March 31.
 Shareholding in depositories is governed under the SEBI (Depositories and Participants) Regulations,
2018. Under regulation 21(1), a stock exchange is allowed only to hold a 15% stake in a depository.
Learn Along:
BSE Headquarters: Mumbai MD & CEO: Sundararaman Ramamurthy
Central Depository Services Headquarters: Mumbai MD & CEO: Nehal Vora
IRDAI Broadens Scope Of 'Use And File' For Life Insurance Products
 The Insurance Regulatory and Development Authority of India (IRDAI) has expanded the scope of
the existing 'use and file' procedure, allowing insurance companies to introduce Unit Linked Insurance
Plans (ULIPs) and combi plans (combination of life and health insurance plans) without the need for
prior approval from the regulator.
 Under the revised guidelines, insurers can launch products first and then fill the details with the
regulator using the 'use and file' procedure. This procedure applies to health insurance products, life
insurance products, and most general insurance products.
 The recent modifications include the inclusion of individual and group unit-linked life and health insurance
products under para No.10.4 of Section B of Chapter I. Life insurers can now utilize and file these
products under the revised procedure.
 Additionally, a new para 10.10 has been introduced, allowing the introduction of "combi products"
where a life insurer acts as the lead insurer. Compliance with the norms set by IRDAI is mandatory for
life insurers offering combi products.
 In an effort to streamline the product launch process, the regulator has eliminated the segregated fund
identification number (SFIN) clearance process. This change reduces administrative obstacles for
insurers, enabling smoother and faster product launches.
 However, life insurance companies must still adhere to other prudential and exposure norms outlined in
the IRDAI (Investment) Regulations, 2016 for each ULIP segregated fund and overall assets under
management (AUM) of ULIPs.

Monthly BeePedia
June 2023
 Furthermore, IRDAI has allowed the addition of new unit-linked funds to existing products, expanding
investment choices for customers and promoting incremental innovation in the industry.
Learn Along:
Assets under management (AUM), also called funds under management, is the total market value of the securities a
financial institution (such as a bank, mutual fund, or hedge fund) owns or manages on behalf of its clients.
ESIC adds 17.88 lakh new members in April 2023
 According to the latest payroll data, Employees’ State Insurance Corporation (ESIC) has added 17.88
lakh new subscribers in April 2023.
 Around 30,249 new establishments have been registered and brought under the social security
umbrella of the Employees’ State Insurance Corporation in April 2023, thus ensuring more coverage.
 The data reveals that more jobs have been generated for the youth as out of the total 17.88 lakh
employees added during the month, 8.37 lakh employees, up to the age of 25 years, constitute the bulk
of new registrations, which is 47 per cent of the total employees.
 Gender-wise analysis of payroll data indicates that enrolment of net female members has been 3.53
lakh in April 2023.
Learn Along:
Employees' State Insurance Corporation (ESIC) is a government organisation that manages the Employees' State
Insurance (ESI) scheme. The scheme basically provides medical and financial assistance to the employees and their
families.The assistance is provided when an employee is unable to perform his duties due to sickness, employment
injury, or maternity.
ESIC Headquarters: New Delhi Director General: Rajendra Kumar
ECGC Ups Cover to 90% for Exporters with Up to ₹50-cr Credit Limit
 The Export Credit Guarantee Corporation (ECGC) plans to support exports worth ₹10 lakh crore in
FY24 from around ₹6.7 lakh crore at present. It has also increased the insurance cover for exporters
with a credit limit of up to ₹50 crore to 90% and extended its cover to nine more banks. The change
comes into effect on July 1, 2023.
 The benefit of the enhanced cover will be extended to the accounts with limits up to ₹50 crore for
these four banks without extra cost.
 For nine banks where six-year claim to premium ratio is less than 70%, cover for accounts with export
credit working capital limits up to Rs 20 crore, will be offered enhanced cover of 90% without any
additional cost provided the banks are extending the export credit at an interest rate corresponding to
the accounts rated ‘AA’ (or with equivalent rating).
Learn Along:
Export Credit Guarantee Corporation Headquarters: Mumbai CMD: M. Senthilnathan
NPS Systematic Lump Sum Withdrawal (SLW) Plan: National Pension System (NPS) subscribers will
be able to withdraw through SLW process
 In accordance with Regulations 3 (a) (ii) and 4 of PFRDA (Exits and Withdrawals under the NPS)
Regulations, 2015 and amendments therein and to ease the process of lump sum withdrawal, now
the subscribers are allowed to withdraw through a ‘Systematic Lump sum Withdrawal (SLW)’ process
on a periodical basis viz. monthly, quarterly, half-yearly or annually for a period till 75 years as per the

Monthly BeePedia
June 2023
choice of the Subscriber at the time of their exit postretirement/ superannuation or upon reaching 60
years as the case may be.
 As per the circular, the SLW facility will be available for both Tier-I and Tier-II NPS accounts. Further,
this SLW will be allowed only in case of normal exit and not in case of premature exit. Exit due to the
death of an NPS subscriber will also not have the SLW option.
Learn Along:
Pension Fund Regulatory and Development Authority (PFRDA) is the regulatory body under the jurisdiction of
Ministry of Finance, Government of India for overall supervision and regulation of pensions in India.
PFRDA Headquarters: New Delhi Chairman: Deepak Mohanty
National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme designed to enable
the subscribers to make optimum decisions regarding their future through systematic savings during their working life.
NPS seeks to inculcate the habit of saving for retirement amongst the citizens. It is an attempt towards finding a
sustainable solution to the problem of providing adequate retirement income to every citizen of India
Tata Technologies, Gandhar Oil, and SBFC Finance get SEBI’s nod to float IPO
 Tata Technologies, an arm of Tata Motors, Gandhar Oil Refinery (India) Ltd and non-banking financial
company SBFC Finance have received SEBI's approval to raise funds through initial public offerings.
 Under the Offer for Sale (OFS), Tata Technologies' parent company Tata Motors will offload 8.11 crore
shares or a 20 percent stake in the company.
 The IPO of Gandhar Oil Refinery comprises fresh issue of equity shares worth Rs 357 crore and OFS
of 1.2 crore shares by promoters and existing shareholders, according to the draft red herring
prospectus.The fund raising through the OFS component is expected to be Rs 500 crore.
 Non-banking lender SBFC Finance is looking to raise Rs 1,200 crore through the IPO, which comprises
fresh issuance of shares worth Rs 750 crore and OFS of Rs 450 crore.
Learn Along:
When a private company first sells shares of stock to the public, this process is known as an initial public offering
(IPO). In essence, an IPO means that a company's ownership is transitioning from private ownership to public
ownership. For that reason, the IPO process is sometimes referred to as going public .
A Draft Red Herring Prospectus (DRHP) is a document that is prepared to introduce a new business or product to a
potential investor. This document should be able to communicate the product vision and target audience.
Union cabinet approves world's largest grain storage plan with an investment of Rs 1 lakh crore
 The Union Cabinet approved a scheme worth Rs 1 lakh crore to increase foodgrain storage capacity
by 700 lakh tonne in the co-operative sector. At present, the grain storage capacity in the country is
about 1,450 lakh tonne.
 In the next five years, the storage will expand to 2,150 lakh tonne. As part of the scheme, a godown of
a capacity of 2,000 tonnes will be constructed in every block.

Monthly BeePedia
June 2023
 The move is aimed to reduced the damage of food grains due to lack of storage facilities, help in
checking distress sales by farmers, reduce import dependence and create employment opportunities
in rural India.
Government imposes stock limits on tur, urad dal till October to check hoarding
 The government has imposed stock limits on tur and urad dals held by wholesalers, retailers,
importers and millers till October to prevent hoarding and check price rise.
 According to the order, a stock limit of 200 tonnes each has been imposed on tur and urad for
wholesalers, 5 tonnes each for retailers and retail outlets, and 200 tonnes at the depot for big chain
retailers.
 In the case of millers, the stock limit will be the last three months of production or 25 per cent of
annual installed capacity, whichever is higher. Whereas importers are not allowed to hold stock beyond
30 days from the date of customs clearance.
Centre removes 40% procurement celling to boost production of pulses
 The Department of Consumer Affairs has removed the procurement ceilings of 40 per cent for tur,
urad, and Masur under Price Support Scheme (PSS) operations for 2023-24.
 It further added that the assured procurement of these pulses at remunerative prices will help motivate
the farmers to enhance the sowing area in respect of tur, urad, and masur in the upcoming Kharif and
Rabi sowing seasons in order to enhance production.
 These stock limits on tur and urad have been made applicable to wholesalers, retailers, big chain
retailers, millers, and importers.
Learn Along:
Ministry of Consumer Affairs, Food and Public Distribution Union Minister: Piyush Goyal
Government of India has decided to allow 2000 PACS to open Pradhan Mantri Bhartiya Jan Aushadhi
Kendras across the country
 The Government of India has decided to allow 2000 Primary Agricultural Credit Societies (PACS) to
open Pradhan Mantri Bhartiya Jan Aushadhi Kendras across the country.
 2000 PACS across the country will be identified to open Pradhan Mantri Bhartiya Jan Aushadhi Kendras.
1000 Pradhan Mantri Bhartiya Jan Aushadhi Kendras will be opened by August and 1000 by December,
this year.
 This important decision will not only increase the income of PACS and create employment
opportunities but will also make medicines available at affordable prices to the people, especially
those living in rural areas.
Learn Along:
A Primary Agricultural Credit Society (PACS) is a basic unit and smallest co-operative credit institution in India It
works on the grassroots level (gram panchayat and village level).
Govt raises kharif paddy MSP by 7%; largest hikes for moong and groundnut
 The Union Cabinet has raised the minimum support price (MSP) of paddy by up to 7 per cent to Rs
2,183 per quintal for a common grade, while that of Grade A was raised by 6.94 per cent, from Rs
2,060 per quintal to Rs 2,203 per quintal. It is the largest foodgrain grown during the kharif season,

Monthly BeePedia
June 2023
 The MSP of moong, which is one of the main pulses grown during the kharif season, has been raised by
10.35 per cent in 2023-24, compared to 2022-23, from Rs 7,755 per quintal to Rs 8,558 per quintal.
 Cotton MSP, too, has been hiked by over 10 per cent of the long-staple variety. In the case of soybean
and sunflower seeds, the MSP increase has been 6.95 per cent and 5.63 per cent, respectively.
Learn Along:
The minimum support price (MSP) is an agricultural product price, set by the Government of India to purchase directly
from the farmer. This is not enforceable by law. By definition, this rate is to safeguard the farmer to a minimum profit for
the harvest, if the open market has lesser price than the cost incurred.
Uttar Pradesh government launches Nand Baba Milk Mission scheme
 In a move to make Uttar Pradesh a leading state in the field of milk development and milk production,
the state government has launched the Nand Baba Milk Mission scheme at a cost of Rs 1,000 crore.
 The Nand Baba Milk Mission scheme, has been implemented to provide milk producers the facility of
selling their milk at a reasonable price in villages through dairy co-operative societies.
 Under this mission, it is proposed to form Dairy farmer producer organisation (Dairy FPO) in order to
facilitate sale of milk in producers’ villages itself.
Learn Along:
About Uttar Pradesh
Capital: Lucknow Governor: Anandiben Patel Chief minister: Yogi Adityanath
Khadi and Village industries register a 332 per cent growth in sales revenue over nine years
 Khadi and Village Industries Commission (KVIC) has reported a tremendous 332 per cent growth in
sales in the last nine years. The turnover has increased from Rs 31,354 crores in 2013-14 to Rs
1,34,630 in 2022-23, registering a three-fold increase over these years.
 The increase in demand has also led to a similar impact on the products of Khadi, whose production
increased from Rs 26,109 crores in FY2014 to Rs 95,957 crores in FY2023, an increase of 268 per
cent.
 The capacity increase has led to job creation, particularly in the rural areas. According to KVIC, 9.54
lakh jobs in the villages were added during FY23, as compared to 5.62 new employment
opportunities in FY14, an increase of over 70 percent.
Learn Along:
KVIC Headquarters: Mumbai Chairperson: Manoj Kumar
The Government approves projects to the tune of more than Rs 7,500 Cr. for the development of
modern fishing harbors and fish landing centres
 The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, in March 2022
sanctioned the proposal of Cochin Port Trust for Modernization and upgradation of Cochin Fishing
Harbour at Thoppumpady at a total cost of Rs.169.17 crore with central financial assistance of
Rs.100 crore under PMMSY in a convergence with the Ministry of Ports, Shipping and Waterways under
Sagarmala.
 The project will benefit 700 fishing boats operating at Cochin fishing harbor, which will support direct
livelihoods of about 10000 fishers and indirect livelihoods of about 30000 fishers across the value
chain.
 It is envisaged that the modernization project will support in substantial improvement in the hygienic
conditions and increase in earnings from export of fish and fish products.

Monthly BeePedia
June 2023
 The project has PPP component of Rs.55.85 crore which include components such as establishment of
cold storages, slurry & tube ice plants, multi -level car parking facility, reverse osmosis plant, food
court, retail market etc.
 The Minister of Fisheries, Animal Husbandry and Dairying stated that the Government has approved
projects to the tune of more than Rs 7,500 Cr. for the development of modern fishing harbours and fish
landing centres under Fisheries and Aquaculture Infrastructure Development Fund (FIDF),
Sagarmala scheme and Pradhan Mantri Matsya Yojana (PMMSY) Scheme.
Learn Along:
Ministry of Fisheries, Animal Husbandry and Dairying Union Minister: Parshottam Rupala
About Pradhan Mantri Matsya Sampada Yojana

● The Central Government’s Pradhan Mantri Matsya Sampada Yojana aims at addressing the critical gaps in the
fisheries value chain, productivity, and quality of technology, marketing, and post-harvest infrastructure.
● It also aims to modernize and strengthen the value chain, establish a robust fisheries management framework
and enhance traceability while also simultaneously ensuring the socio-economic welfare of fisheries and fish farmers.
● Launched in: September 2020
The Sagarmala programme is the flagship programme of the Ministry of Shipping to promote port-led development in
the country through harnessing India’s 7,500 km long coastline, 14,500 km of potentially navigable waterways and
strategic location on key international maritime trade routes. The main vision of the Sagarmala Programme is to reduce
logistics cost for EXIM and domestic trade with minimal infrastructure investment.Sagarmala Programme was approved
by the Union Cabinet in March 2015 and a National Perspective Plan was prepared by the Ministry of Shipping which
was released on 14th April 2016.
Ministry of Fisheries, Animal Husbandry & Dairying launched NANDI (NOC Approval for New Drug
and Inoculation System) Portal
 Ministry of Fisheries, Animal Husbandry & Dairying has launched Nandi - NOC Approval for New
Drug and Inoculation System portal.
 With this portal, DAHD will facilitate the regulatory approval process with transparency to assess
and examine veterinary product proposals will be more streamlined through seamless integration with
the SUGAM portal of Central Drugs Standard Control Organization.
 The launch of the NANDI portal is another notable undertaking following the animal vaccination
coverage initiative and Mobile Veterinary Units (MVUs). This initiative would also provide valuable
support to researchers and industries from a commercial perspective.
 By raising awareness among livestock rearers and improving logistical facilities, there would be an
increase in the consumption of drugs.
 The Department of Animal Husbandry and Dairying has developed NANDI portal through CDAC in
coordination with Central Drugs Standard Control Organization (CDSCO).
Learn Along:
Ministry of Fisheries, Animal Husbandry and Dairying Union Minister: Parshottam Rupala
Centre for Development of Advanced Computing Headquarters: Pune Director General: Magesh Ethirajan
National fish output seen over 80 per cent, Govt approves cumulative investment Rs 38,572 crore in
fisheries and aquaculture

Monthly BeePedia
June 2023
 According to the data released by the Ministry of Fisheries ,Animal Husbandry & Dairying, national
fish production for the year 2022-23 is also expected to touch or exceed 174 lakh tonne (provisional
figures), an 81% increase when compared to 2013-14.
 From 2015, the central government has approved or announced cumulative investments to the tune of
Rs 38,572 crore. These include:
o Rs 5,000 crore investment under Blue Revolution Scheme
o Rs 7,522 crore Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
o Rs. 20,050 crore investment under Pradhan Mantri Matsya Sampada Yojana
o Rs 6,000 crore Sub-scheme under PMMSY, announced in Union Budget 2023-24
Seafood exports rise 4.3 pc to USD 8 bn in 2022-23
 According to the data provided by the Ministry of Commerce & Industry, India’s seafood exports rose
by 4.31 per cent to USD 8.09 billion in 2022-23 on account of a jump in the shipments of frozen shrimp.
 In volume terms, the exports increased to 17,35,286 tonnes in the last fiscal against 13,69,264 tonnes
in 2021-22.
 Frozen shrimp exports increased to USD 5.48 billion in 2022-23. The sector accounts for about 41 per
cent of India’s total seafood exports in volume terms.
 The US is the largest market of frozen shrimp, followed by China, the European Union, South East
Asia, Japan, and the Middle East.
 The other segments which recorded a healthy growth in exports include black tiger, shrimp, frozen
fish, frozen octopus, canned products, and frozen lobster.
Centre reduces import duty on sunflower oil, soyabean oil to 12.5%
 Ministry of Consumer Affairs, Food and Public Distribution has announced a reduction in the
import duty on refined soyabean oil and sunflower oil by 5 percentage points, bringing it down from
17.5 per cent to 12.5 per cent.
 The latest reduction in import duty rates is likely to support the government's plan of keeping the edible
oil prices under control.
Learn Along:
Ministry of Consumer Affairs, Food and Public Distribution Union Minister: Piyush Goyal
Poshn launches new platform in food and agriculture segment
 Poshn, a leading player in the food and agriculture value chain, has launched a platform that will help
match a buyer’s procurement demands with the most likely fulfilment partner.
 The company expects to onboard over three lakh wholesale SME sellers on the new platform in the
next 12 months. More than 300 sellers have gone live with the platform in the pilot stage.
 The proprietary technology will also enable reverse auctioning, order processing, logistics
optimization, and payment processing for the buyer and seller ultimately leading to increased efficiency.
 The new platform uses machine learning, data, and analytics to simplify the process of distributing
commodities.
 The platform, with its algorithms and machine learning models matches buyer demand requests with
fulfilment partners resulting in specific recommendations that provide buyers with the product at
the best price and shortest delivery time possible.
Learn Along:
Poshn Headquarters: New Delhi Co-founder: Bhuvnesh Gupta & Shashank Singh

Monthly BeePedia
June 2023
The G20 Agriculture Ministerial Meeting (AMM) was held from 15th-17th June in Hyderabad
 In order to provide the Agriculture Ministers and delegates from various G20 countries a first-hand
experience of ICAR - Indian Institute of Millets Research (ICAR-IIMR), especially during the ongoing
International Year of Millets, a technical tour to ICAR-IIMR was also arranged.
 The excursion was planned as part of the G20 Agriculture Ministerial Meeting (AMM) which was held
from 15th-17th June in Hyderabad.
 The tour and exhibition witnessed an enormous participation of more than 300 people including
Agricultural Ministers, various delegates from G20 countries, international organizations and several
other dignitaries from India.
Learn Along:
The ICAR is an autonomous organisation under the Department of Agricultural Research and Education (DARE),
Ministry of Agriculture and Farmers Welfare
ICAR Headquarters: New Delhi Director General: Himanshu Pathak
Ministry of Agriculture & Farmers Welfare signed a MOU with Pixxel Space India Pvt. Limited
 Ministry of Agriculture & Farmers Welfare signed a MOU with Pixxel Space India Pvt. Limited with
an aim to develop various geospatial solutions on pro bono basis for the Indian Agriculture Ecosystem
using Pixxel’s hyperspectral dataset.
 The project focuses on leveraging sample hyperspectral data from Pixxel’s path finder satellites to
develop analytics models focused on crop mapping, crop stage discrimination, crop health
monitoring, and soil organic carbon assessments.
 Hyperspectral remote sensing technology includes spectral measurements in narrow wavelength
bands by satellites and such measurements offer certain unique indices to monitor and assess health
of crops and soils.
 This is an emerging technology with unique capabilities for monitoring agriculture.Crop health
monitoring by detecting the changes in chlorophyll content and canopy moisture status, using
hyperspectral data would be beneficial to find crop risk management solutions to farmers.
Learn Along:
Ministry of Agriculture & Farmers' Welfare Union Minister: Narendra Singh Tomar
Pixxel Space India Pvt. Limited Headquarters: Bengaluru CEO: Awais Ahmed
PM Kisan mobile app with face authentication feature launched
 Ministry of Agriculture and Farmers' Welfare has launched the PM Kisan mobile app with a face
authentication feature, under the Pradhan Mantri Kisan Samman Nidhi scheme.
 The app aims to resolve difficulties related to Aadhaar verification and updating bank account details
on the PM Kisan Portal through effective use of digital public goods. Through the app, farmers can
complete electronic ‘know your customer’ (e-KYC) processes remotely by scanning their face. This
eliminated the need for one time passwords (OTPs) or fingerprint verification.
 Furthermore, the app enables farmers to assist up to 100 other farmers in completing their e-KYC from
home. The government has extended the e-KYC ability to state government officers, enabling them to
complete the process for up to 500 farmers.

Monthly BeePedia
June 2023
 The department has also collaborated with India Post Payment Bank (IPPB) to open Aadhaar-linked
bank accounts for beneficiaries and urged Common Service Centers (CSCs) to organise village-level
e-KYC camps with the help of states and union territories.
Learn Along:
PM KISAN is a Central Sector scheme with 100% funding from Government of India.It has become operational from
1.12.2018.Under the scheme an income support of 6,000/- per year in three equal installments will be provided to all land
holding farmer families.Definition of family for the scheme is husband, wife and minor children.State Government and
UT administration will identify the farmer families which are eligible for support as per scheme guidelines.The fund will
be directly transferred to the bank accounts of the beneficiaries
KYC means to ‘know your customer’ which is an effective way for an institution to confirm and thereby verify the
authenticity of a customer. For this, the customer is required to submit all KYC documentation before investing in various
instruments. All financial institutions are mandated by the RBI to do the KYC process for all customers before giving
them the right to carry out any financial transactions. Whether the customer uses KYC online verification or opts for
offline KYC, this is a simple one-time process.
Himachal partners with NDDB to set up state-of-the-art milk processing unit
 The Himachal Pradesh government will collaborate with the National Dairy Development Board
(NDDB) to set up a state-of-the-art milk processing plant in Kangra district.
 The milk processing plant would be set up at a cost of about Rs 250 crore with NDDB's assistance in
its operation and marketing of milk products.
Learn Along:
National Dairy Development Board Headquarters: Anand, Gujarat Chairman: Meenesh Shah
About Himachal Pradesh

Capitals: Shimla (Summer), Chief minister: Sukhvinder Singh Sukhu Governor: Shiv Pratap Shukla
Dharamshala (Winter)
Chhattisgarh government's high-tech millet push to double productivity
 The Chhattisgarh government will promote hi-tech millet farming in 14 districts to double the
productivity of the coarse grains in the state.
 Aiming to promote millet cultivation, the government has initiated the Millet Mission, facilitated by the
Chhattisgarh State Minor Forest Produce Federation, to provide training to farmers, ensure the
availability of high-quality seeds, and enhance productivity.
 The objective is to double millet productivity to 9 quintals per acre from 4.5 quintals now.
Learn Along:
About Chhattisgarh
Capital: Raipur Governor: Biswabhusan Harichandan Chief minister: Bhupesh Baghel
PM-PRANAM scheme gets CCEA approval to boost alternative fertilisers
 The Union Cabinet Committee on Economic Affairs (CCEA) has approved PM-PRANAM, which is
aimed at incentivizing states to use an alternative, non-chemical fertilisers, and also decided to
continue the current urea subsidy for three years starting FY23, with an outlay of Rs 3.68 trillion.

Monthly BeePedia
June 2023
 The CCEA also took two more decisions for the fertiliser sector — a Rs 1,451 crore subsidy to promote
organic manure, and a decision to debut sulphur-coated urea (Urea Gold) to address sulphur
deficiency in the soil and reduce urea use.
 The subsidy on organic manure will take the total cost of over Rs 3.70 trillion.
 PM-PRANAM stands for Prime Minister’s Programme for Restoration, Awareness, Generation,
Nourishment and Amelioration of Mother Earth). In case of this scheme, if a state was using 1 million
tonnes of conventional fertiliser and it reduced its consumption by 0.3 million tonne, then the
subsidy saving would amount to Rs 3,000 crore.
 Of this saving, the Centre will give 50 per cent, or Rs 1,500 crore, to the state for promoting the use of
alternative fertiliser and other development works.
Learn Along:
Cabinet Committee on Economic Affairs (CCEA), headed by the Prime Minister of India reviews economic trends on a
continuous basis, as also the problems and prospects, with a view to evolving a consistent and integrated economic
policy framework for the country.
Centre hikes sugarcane FRP by Rs 10 per quintal for 2023-24 season
 The Union Cabinet Committee on Economic Affairs has hiked the fair and remunerative price (FRP)
of sugarcane by Rs 10 per quintal to Rs 315 for the 2023-24 season that will start from October. The
increase in FRP last year was of Rs 15 per quintal.
 For every 0.1 per cent rise in recovery over 10.25 per cent, a premium of Rs 3.07 per quintal will have
to be paid to the farmer, while for every 0.1 per cent reduction in recovery below 10.25 per cent, FRP
payable will be lowered by Rs 3.07 per quintal.
 However, to protect the interest of farmers — especially those who don’t have very high yielding
varieties —the Centre has decided to fix a price of Rs 291.75 per quintal for 9.5 per cent recovery and
there shall not be any deduction below the same.
Retail urea price to remain unchanged till FY25-end
 The Cabinet Committee on Economic Affairs (CCEA) has approved continuation of the extant urea
subsidy scheme up to the end of the financial year 2024-25. For the period between FY23-FY25, the
scheme will have an estimated budgetary cost of Rs 3.68 trillion.
 The scheme allows retail prices of the key soil nutrient to farmers to be kept at 242 per bag of 45 kg,
even as the current cost of production is around Rs.2,200/bag.
 Fertiliser subsidy in FY23 stood at an all-time high of 2.54 trillion, owing to the spike in global commodity
prices.
 In terms of volume, imports account for a third of domestic soil nutrients consumption of around 65
MT annually.
NATIONAL
India-EU Connectivity Conference to be organized in Meghalaya from June 1
 The Ministry of External Affairs, EU Delegation to India and the Asian Confluence are jointly
organizing the India-EU Connectivity Conference in Meghalaya.

Monthly BeePedia
June 2023
 The objective of the two-day conference is to explore possibilities of boosting connectivity

investments in India’s North Eastern States and with India’s neighbours -- Nepal, Bhutan and
Bangladesh.
 The Conference is an outcome of the India-EU Connectivity partnership which was launched during
the India-EU Leaders’ Meeting in May 2021.
 It was inaugurated by Meghalaya Chief Minister Conrad Sangma, and Minister of State fir External
Affairs Dr. Rajkumar Ranjan Singh. Senior officials of the Government, EU Commission, North Eastern
states, Nepal, Bhutan and Bangladesh and stakeholders from the private sector are expected to
participate and provide their insights and views on the subject.
Learn Along:
About Meghalaya
Capital: Shillong Governor: Phagu Chauhan Chief minister: Conrad Sangma
About European Union
 The European Union is a supranational political and economic union of 27 member states that are located
primarily in Europe.
 Founded: 1 November 1993
India, Nepal signed pacts on energy, transport
 India and Nepal signed a series of agreements on energy and transport, including export of Nepal’s
hydropower to Bangladesh through Indian territory.
 The two sides signed a number of agreements, including an MoU between NHPC and VUCL (Vidyut
Utpadan Company Ltd.) of Nepal, for the development of Phukot Karnali Hydroelectric Project and
a Project Development Agreement for Lower Arun Hydroelectric Project between SJVN (India) and
Investment Board of Nepal.
 The two countries signed the revised Treaty of Transit under which Nepal will get to access to India’s
inland waterways.
Learn Along:
About Nepal
Capital: Kathmandu Prime minister: Pushpa Kamal Dahal President:Ram Chandra Poudel
Union Minister Hardeep Singh Puri launched PM SVANidhi mobile app to ease loan process and
provide information for street vendors
 Housing and Urban Affairs Minister Hardeep Singh Puri launched a PM SVANidhi mobile app for
street vendors, to ease the loan application process and provide various information to them regarding
the scheme.
 The scheme aims to restore self-employment, Self-Sustenance, and Self-Confidence among street
vendors.
 The scheme has also empowered COVID-19-affected street vendors to resume their livelihood.
Union Minister For Jal Shakti, Shri Gajendra Singh Shekhawat Launched Unified Registration Portal
For GOBARdhan
 The Union Minister for Jal Shakti, Shri Gajendra Singh Shekhawat launched the Unified Registration
Portal for GOBARdhan which will act as a one stop repository to assess investment and participation

Monthly BeePedia
June 2023
in Biogas/CBG sector at pan India level and more importantly streamline the process of setting up
CBG/Biogas plants in India.
 Any government, cooperative or private entity operating or intending to setup a Biogas/CBG/Bio
CNG plant in India can obtain a registration number by enrolling in this unified registration portal
launched.
 The registration number will enable availing of multitude of benefits and support from the
Ministries & Departments of Government of India.
 States have been advised to get their CBG/Biogas plant operators registered on the portal on priority
to avail existing and upcoming support from the Union Government.
Learn Along:
 Galvanizing Organic Bio-Agro Resources Dhan (GOBARdhan) is a vital umbrella initiative of Government
of India, based on the whole of Government approach and aims to convert waste to wealth towards promoting
circular economy.
 The objective of GOBARdhan is to generate wealth and energy by converting cattle dung, agri residue and
other organic waste into Biogas, CBG and bio fertilizers.
 This initiative comprises the entire gamut of schemes, programmes, policies promoting the conversion of
organic waste like cattle dung, agri-residue etc. to biogas/CBG/Bio CNG.
 GOBARdhan initiative is envisioned to contribute significantly towards reaching India’s climate action goals
particularly achieving net-zero emissions by 2070.
Union Minister Sarbananda Sonowal flagged off maiden International Cruise Vessel, MV Empress in
Chennai
 Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal flagged off the maiden International Cruise
Vessel - MV Empress, India’s first international cruise vessel - from Chennai to Sri Lanka in Chennai.
 This marks the beginning of the international cruise tourism terminal at Chennai, built at a cost of 17.21 crore
rupees, heralding a new age of cruise tourism and maritime trade in the country.
 The launch of the maiden cruise service between Chennai and Sri Lanka has ushered a new chapter in the
cruise tourism sector in the country.
Learn Along:
About Tamil Nadu
Capital: Chennai Chief minister: M. K. Stalin Governor: R. N. Ravi
New Cooperation Policy likely to be unveiled in July this year
 According to Union Ministry of Cooperation, The new Cooperation Policy is expected to be unveiled
by July, 2023.
 The Committee members briefed the objectives, vision and mission of the draft Policy along with
key recommendations in various sectors including structural reforms & governance, cooperatives
as vibrant economic entities, level playing field for cooperatives, sources of capital and funds,
inclusion of priority sections, use of technology, upskilling and training, sustainability and implementation
plan.
 The new Cooperation Policy is expected to be unveiled in July, 2023 after consulting all the stakeholders
including state governments, central ministries / departments, National Cooperatives, etc.
 The government had formed the National Level Committee for drafting New National Cooperation
Policy on September 2, 2022. The existing cooperation policy was formulated in 2002.

Monthly BeePedia
June 2023
Learn Along:
About Union Ministry of Cooperation
Minister responsible : Amit Shah
Mumbai-Pune Deccan Queen, India’s first deluxe train, completes 93 years of service
 Deccan Queen, Indian Railways’ first deluxe train between Mumbai and Pune, has completed 93
years of service on June 1.
 Deccan Queen, which is also known as Dakkhan Ki Rani, was introduced on June 1, 1930.
 The Deccan Queen was the first deluxe train service of the Indian Railways which was introduced
to run between Mumbai and Pune.
Government is launching Mission on Advanced and High-Impact Research, MAHIR
 Government is launching Mission on Advanced and High-Impact Research, MAHIR, to quickly identify
emerging technologies in the power sector and develop them indigenously for deployment within
and outside the country.
 The Mission aims at facilitating indigenous research, development and demonstration of the latest
and emerging technologies in the power sector.
 By identifying emerging technologies and taking them to implementation stage, the Mission seeks to
leverage them as the main fuel for future economic growth and make India a manufacturing hub of
the world.
 The Mission will be funded by pooling financial resources of the Ministry of Power, Ministry of New
and Renewable Energy and various Central Public Sector Enterprises under the two Ministries.
 Any additional funding needed will be mobilized from the central government’s budgetary resources.
 Planned for an initial period of five years from 2023-24 to 2027-28, the Mission will follow the technology
life cycle approach of Idea to Product.
 The Mission will serve as a catalyst for national priorities such as achieving Net Zero emissions
and promoting initiatives like Make in India and Start-up India. He said that it will also contribute towards
achieving the United Nation’s Sustainable Development Goals.
Nyaya Vikas Portal created for monitoring the implementation of Centrally Sponsored Schemes
 Ministry of Law and Justice has launched the Nyaya Vikas Portal for monitoring the implementation
of Centrally Sponsored Schemes.
 Nyaya Vikas Portal allows four efficient ways of logging into the portal, thereby empowering
stakeholders with seamless access to information pertaining to funding, documentation, project
monitoring and approval.
 The Department of Justice has been implementing the Centrally Sponsored Scheme (CSS) for
Development of Infrastructure Facilities for Districts and Subordinate Judiciary since 1993-94.
 Under the Scheme, central assistance is provided to the State Government / UT Administrations
for construction of court halls and residential units for Judicial Officers / Judges of District and
Subordinate Courts.
Learn Along:
About Ministry of Law and Justice

Monthly BeePedia
June 2023
Honourable Minister: Shri Arjun Ram Meghwal Hon'ble Minister of State, Ministry of Law and Justice (Independent
Charge)
Under the vision of “Sahkar Se Samridhi”, the Government of India has taken five more important
decisions
 In the direction of realizing the vision of “Sahkar Se Samridhi”, the Government of India has taken five
more important decisions.
 The following 5 important decisions were taken in the meeting-
1. There are about 1 lakh Primary Agricultural Credit Cooperative Societies present across the country.
On the basis of mapping, Primary Agricultural Credit Societies (PACS) which are not
functioning as fertilizer retailers will be identified and they will be encouraged to function as
retailers on the basis of feasibility in a phased manner.
2. PACS which are not currently functioning as Pradhan Mantri Kisan Samridhi Kendras (PMKSK)
will be brought under the ambit of PMKSK.
3. PACS will be connected with the marketing of organic fertilizers, especially Fermented Organic
Manure (FoM) / Liquid Fermented Organic Manure (LFOM) / Phosphate Enriched Organic
Manure (PROM).
4. Under the Market Development Assistance (MDA) scheme of Department of Fertilizers, fertilizer
companies will act as an aggregator for small bio-organic producers to market the end
product, in this supply and marketing chain of bio-organic fertilizers PACS will also be included as
wholesalers/retailers.
5. PACS can also be employed as Drone entrepreneurs for spraying fertilizers and pesticides.
Drones can also be used for survey of property.
 The benefits of these decisions : These important decisions will increase the income of Primary
Agricultural Credit Societies, as well as increase the employment opportunities in rural areas and
farmers will be able to get fertilizers, pesticides, seeds and agricultural machinery at the local level.
FarmersFZ selected for UN's 'Accelerator Programme' for food startups
 A Kerala-based startup, Farmers Fresh Zone (FarmersFZ), has been selected for the 'Accelerator
Programme by the Food and Agriculture Organisation (FAO) of the UN.
 FarmersFZ has figured in the list of 12 agri-food startups around the world for the UN body to develop
business.
 The Kochi-based multichannel marketplace platform, which functions under the Kerala Startup Mission
(KSUM), is one among India's two startups to qualify for the 'Accelerator Programme'.
 Its ultimate aim is to attain the UN Sustainable Development Goals.
 KSUM is the nodal agency of the Kerala government for entrepreneurship development and
incubation activities in the state.
Learn Along:
About 'Accelerator Programme’ by FAO
 The Food and Agriculture Organization of the United Nations (FAO) and the SEED partnership on 17th
February 2023 launched the SDG Agrifood Accelerator Programme, an instrument designed to help agrifood
system start-ups develop their businesses while contributing to the UN’s Sustainable Development Goals (SDGs).

Monthly BeePedia
June 2023
About FAO
 The Food and Agriculture Organization of the United Nations is a specialized agency of the United Nations that
leads international efforts to defeat hunger and improve nutrition and food security.
 Its Latin motto, fiat panis, translates to "let there be bread".
 Founded: 16 October 1945. Headquarters: Rome, Italy DG: QU Dongyu
Sarbananda Sonowal launched 'Sagar Samriddhi' system to track dredging activity
 In a bid to add impetus to the centre’s “Waste to Wealth” initiative, Union Minister of Ports, Shipping and
Waterways Sarbananda Sonowal launched an online dredging monitoring system called “Sagar
Samriddhi.”
 The “Sagar Samriddhi” system will aid daily and monthly progress visualisation, monitor dredger
performance and downtime monitoring, and keep track of location data.
 The National Technology Centre for Ports, Waterways, and Coasts (NTCPWC), the technological arm
of the Ministry of Ports, Shipping and Waterways (MoPSW), has developed the monitoring system to
improve the Draft and Loading Monitor (DLM) system.
 The new monitoring system is expected to bring synergy among multiple input reports before
processing real-time dredging reports.
 Using new technology to monitor dredging was essential so that human error can be minimised.
 Currently, Cochin and Mumbai ports have adopted “Sagar Samriddhi” and New Mangalore Port and
Deendayal Port are running the system on a trial basis.
ADB, India signed $130 million loan to promote horticulture in Himachal Pradesh
 The Government of India and the Asian Development Bank (ADB) on 8th June 2023 signed a $130
million loan to increase agricultural productivity, improve access to irrigation and promote horticulture
agribusinesses to raise farmers’ income in the state of Himachal Pradesh.
 The project builds upon a pilot financed by ADB’s project readiness facility which demonstrated the
subtropical horticulture production over 200 hectares and prepared the draft water user association
(WUA) act and the draft state horticulture development strategy.
 The project interventions will help increase the income and resilience to the effects of climate
change of at least 15,000 farm households across 7 districts of the state namely Bilaspur, Hamirpur,
Kangra, Mandi, Sirmour, Solan, and Una.
 The project will improve on-farm irrigation and water management in about 6,000 hectares of
farmland by rehabilitating or building new irrigation schemes and strengthening the capacity of WUAs
for micro irrigation management through joint efforts from the state’s Jal Shakti Vibhag (Water Resources
Department) and Department of Horticulture (DOH).
Learn Along:
About ADB
Formation: 19 December 1966 Headquarters: Mandaluyong, Philippines President: Masatsugu Asakawa
About Himachal Pradesh

Capital: Shimla Governor: Shiv Pratap Shukla Chief minister: Sukhvinder Singh Sukhu
India, UAE target $100 billion non-oil trade by 2030

Monthly BeePedia
June 2023
 India and the UAE set a target to increase the non-oil trade from $48 billion to $100 billion by 2030.
 The goal to achieve $100 billion non-oil trade was set in the first meeting of the Joint Committee of
India-UAE Comprehensive Economic Partnership Agreement (CEPA).
 The agreement was implemented on May 1 last year.
 The target of $100 billion will not include the oil trade.
 An India-UAE CEPA council will be set up to further facilitate the implementation of the agreement.
Learn Along:
About UAE
Capital: Abu Dhabi Currency: UAE dirham
Operation Amanat: RPF Recovered Assets Worth ₹51.13 Lakh Of 119 Passengers In May 2023
 In a remarkable display of dedication to passenger safety and service, the Railway Protection Force
(RPF) conducted a successful operation named "Amanat," resulting in the retrieval of lost or left-
behind luggage and valuable articles.
 The operation, carried out in May 2023, saw the RPF recovering belongings to 119 passengers, with
an estimated total value of approximately Rs 51.13 lakh.
MSMEs in the footwear industry included under the ambit of quality control rules
 The government, in consultation with the footwear industry, has decided to include the MSMEs under
the ambit of compliance, effective from January 1, 2024. After the deadline, the MSMEs in the footwear
industry will have to maintain quality standards, unlike earlier when they were excluded from the
regulatory framework.
 An additional time limit of six months is provided to micro enterprises (companies with less than Rs 5
crore turnover) who will have to follow these guidelines from July 1, 2024.
 These orders would help in increasing the production of quality footwear, and exports and
establishing Indian brands in the global markets.
Learn Along:
Micro, Small, Medium Enterprises (MSME’s) are entities that are involved in production, manufacturing and
processing of goods and commodities. The concept of MSME was first introduced by the government of India
through the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006.
Micro Investment less than Rs. 1 crore or Turnover less than Rs. 5 crore
Small Investment less than Rs. 10 crore or Turnover up to Rs. 50 crore
Medium Investment less than Rs. 50 crore or Turnover up to Rs. 250 crore
NITI Aayog and the United Nations in India sign the Government of India - United Nations Sustainable
Development Cooperation Framework
 NITI Aayog and the United Nations in India signed the Government of India - United Nations
Sustainable Development Cooperation Framework 2023-2027.
 GoI-UNSDCF 2023-2027 represents the UN development system’s collective offer to the Government
of India, in line with the national vision for development, for the achievement of the Sustainable
Development Goals, promoting gender equality, youth empowerment and human rights.

Monthly BeePedia
June 2023
 The GoI-UNSDCF 2023-2027 is built on four strategic pillars derived from the 2030 Agenda – People,
Prosperity, Planet and Participation. The four interlinked pillars have six outcome areas focusing on
Health and Well Being; Nutrition and Food Security; Quality Education; Economic Growth and Decent
Work; Environment, Climate, WASH and Resilience; and Empowering People, Communities, and
Institutions.
 To further deepen cooperation in critical areas, for the first time, the GoI-UNSDCF will have specific
focus on SDG localisation and South-South cooperation, in line with India’s leadership towards the
implementation and acceleration of the SDGs.
Learn Along:
About NITI Aayog
Formed: 1 January 2015 Headquarters: New Delhi Chairperson: Narendra Modi
United Nations Headquarters: New York, United States Secretary general: António Guterres
NTPC Vidyut Vyapar Nigam Limited commissions 1 MW Rooftop Solar Power Project at IIT Jodhpur,
to meet 15% of IIT’s electricity requirements
 NTPC Vidyut Vyapar Nigam Limited (NVVN), a wholly owned subsidiary of NTPC, has commissioned
its first Rooftop Solar Photovoltaic Project at IIT Jodhpur, Rajasthan. The one MW Grid-connected
Solar Project has been implemented by NVVN under the RESCO model, with Power Purchase
Agreement duration of 25 years.
 Under the RESCO model for implementing rooftop solar installation, a renewable energy service
company ("RESCO"), (i.e., an energy service company that provides energy to consumers from
renewable energy sources), designs, builds, funds and operates the entire solar power plant (roof
or ground-mounted), consumer pays the developer against assured monthly unit generation per kW and
DISCOM adjusts generated units in consumer’s electricity bill.
 The project is set up on the roofs of 14 buildings inside the campus of the IIT. The rooftop project will
generate around 14.9 Lakhs units per annum and will meet 15% of the electricity requirement of IIT
Jodhpur. The project will result in reduction of carbon dioxide emissions of 1,060 tonnes per year.
Learn Along:
NTPC Headquarters: New Delhi CMD: Gurdeep Singh
Nehru Memorial Museum and Library Society renamed as Prime Ministers’ Museum and Library
Society
 Nehru Memorial Museum and Library Society, it was resolved to change its name to Prime Ministers’
Museum and Library Society.
 The Executive Council subsequently felt that the name of the Institution should reflect the present
activities which now also include a Sangrahalaya depicting the collective journey of democracy in
Independent India and highlighting the contribution of each Prime Minister in nation-building. The
Museum is a seamless blend which begins at the renovated and refurbished Nehru Museum building,
now completely updated with technologically advanced displays on the life and contribution of Shri
Jawaharlal Nehru.
 Housed in a new building the museum then goes on to tell the story of how all the Prime Ministers
navigated the nation through various challenges and ensured all-round progress of the country.
Thus, it recognizes all the Prime Ministers, thereby democratizing the institutional memory.

Monthly BeePedia
June 2023
Titagarh Rail Systems-Bhel consortium bags contract from Indian Railways
 A consortium led by Bharat Heavy Electricals Limited (BHEL) and Titagarh Rail Systems Limited
(TRSL) have signed a contract for the manufacturing and supply of 80 fully assembled Vande Bharat
sleeper train sets by 2029 and their maintenance for 35 years.
 This is the first time Indian Railways has awarded a contract of this value to an Indian consortium for the
design and manufacturing of complete train sets and maintenance for 35 years. The estimated value
of the contract is Rs 24,000 crore (excluding GST).
Learn Along:
Bharat Heavy Electricals Limited Headquarters: New Delhi CEO: Nalin Singhal
India Launches Vaibhav Fellowship Program to Collaborate with Indian Diaspora in STEMM
 The Indian government has launched a new fellowship program called Vaishvik Bhartiya
Vaigyanik (Vaibhav) to foster collaboration between the Indian diaspora in science, technology,
engineering, mathematics, and medicine (STEMM) and academic and research institutions in India.
 Under the program, 75 scholars in 18 knowledge verticals will be awarded fellowships for collaborative
research work in frontier areas of science and technology.
 The fellowship program aims to promote collaboration between the Indian diaspora and Indian
higher educational institutions, universities, and public-funded scientific institutions.
 Fellows will spend up to two months per year for a maximum of three years collaborating with their
Indian counterparts and initiating research activities in cutting-edge areas of science and technology.
 The program offers a grant of up to Rs 4 lakh per month, as well as funding for international and
domestic travel, accommodation, and contingencies.
India Emerges as a Global Leader in LEED Zero Projects
 India has emerged as a top country with LEED Zero green building projects, outperforming the
United States and China according to the U.S. Green Building Council (USGBC) and Green Business
Certification Inc (GBCI).
 India has 73 LEED Zero certified projects, comprising 45 percent of the more than 150 total LEED
Zero certifications, with Haryana and Tamil Nadu leading the way in certifications.
 The United States and China have the second and third most LEED Zero certifications, with 47 (30
percent) and 15 (10 percent) certifications, respectively.
 India-based real estate developer DLF is the leader globally in total LEED Zero certifications with 45
certifications, followed by ITC Group with 15 certifications.
 LEED Zero recognises projects that have reached net zero or net positive status in the categories of
carbon, energy, water or waste. To date, there are more than 35 million certified square feet of LEED
Zero projects.
Learn Along:
U.S. Green Building Council Headquarters: Washington, D.C., United States President: Peter Templeton
Poshan app allows migrant workers to access nurseries wherever they live

Monthly BeePedia
June 2023
 More than 57,000 migrant workers have registered for the special one nation one Anganwadi
programme under which even if people relocate to another State, they can avail of the benefits given
to children under six years and pregnant women and lactating mothers by the government.
 The Poshan Tracker management application provides a 360-degree view of the activities of the
Anganwadi Centre (child care centres), service deliveries of Anganwadi Workers and complete
beneficiary management for pregnant women, lactating mothers and children under six.
 It also digitizes and automates physical registers used by workers that helps improve the quality of
their work.
 The Anganwadi workers are being provided smartphones procured through Government e-Market
(GeM) for efficient service delivery. A total of 8.66 lakh such phones have been procured by all states and
UTs.
 More than 6.5 lakh Anganwadi Workers have been trained till date for their use.
 A nodal person has also been appointed for providing technical support and resolving any issue
about downloading the new Poshan Tracker application and its functioning in each state.
Learn Along:
 Since the launch of the Poshan Abhiyan in 2018, a total of 10 crore 6 lakh beneficiaries have been registered
out of which 47.6 lakh were lactating mothers, 7.48 crore were pregnant women and rest children.
VAIBHAV Fellowship Progrsamme announced to connect Indian STEMM diaspora with Indian Higher
Educational Institutions
 The Government has launched a new fellowship programme to connect the Indian STEMM diaspora
with Indian academic and R&D institutions for collaborative research work leading to sharing of
knowledge, wisdom, and best practices in the frontier areas of science & technology.
 The Vaishvik Bhartiya Vaigyanik (VAIBHAV) fellowships programme to be implemented by the
Department of Science and Technology (DST), Ministry of Science and Technology, would be
awarded to outstanding scientist/technologists of Indian origin (NRI/OCI/PIO) who are engaged in research
activities in their respective countries.
 The VAIBHAV Fellow would identify an Indian Institution for collaboration and may spend up to two
months in a year for a maximum of 3 years.
 The VAIBHAV fellows are expected to collaborate with their Indian counterparts and help initiate
research activities in the host institution in the cutting-edge areas of Science and Technology.
Infrastructure Finance Secretariat(IFS), DEA launched the revamped website of PPPININDIA and
online portals for India Infrastructure Project Development Funding Scheme (IIPDF) and the Best
Practices in Infrastructure
 The Infrastructure Finance Secretariat (IFS) in its endeavour to usher in private investment in
infrastructure is constantly introducing interventions to setup an enabling ecosystem for
infrastructure development and delivery.
 As part of this endeavour, the IFS has revamped its website for its enhanced value to the
stakeholders involved in PPP projects.
 PPPININDIA is a website dedicated to promoting and facilitating Public Private Partnerships in
India and helps in bridging the gap between the public and private sectors.

Monthly BeePedia
June 2023
 The website serves as a digital platform that brings together government entities, private
companies, investors and entrepreneurs fostering collaboration and innovation for sustainable growth.
 Through this revamped website, the IFS aims to create a vibrant ecosystem that nurtures
partnership, encourages investment, and facilitates the exchange of knowledge and resources.
Govt extended solar park projects’ scheme deadline by two years
 The union ministry of new and renewable energy (MNRE) has extended the deadline for scheme of
‘Development of Solar Parks and Ultra Mega Solar Park Projects’ till 2026 fiscal.
 The extension would not entail any additional financial implication. The scheme was scheduled to end in
March 2024.
 The scheme was launched in December 2014 to support states and union territories in setting up solar
parks at various locations in the country with a view to create required infrastructure for setting up of
solar power projects.
 Under the scheme, the MNRE provides Central financial assistance (CFA) of up to ₹25 lakh per solar
park for preparation of detailed project report (DPR).
 Beside this, CFA of up to ₹20 lakh per MW or 30% of the project cost, including grid-connectivity cost,
whichever is lower, is also provided on achieving the milestones prescribed in the scheme.
Learn Along:
About The union ministry of new and renewable energy
 The Ministry of New and Renewable Energy (MNRE) is the nodal Ministry of the Government of India for all
matters relating to new and renewable energy.
 The broad aim of the Ministry is to develop and deploy new and renewable energy for supplementing the energy
requirements of India.
Railways Signed Pact With US Agency USAID To Boost Clean Energy Solutions
 The Ministry of Railways announced that Indian Railways has entered into an agreement with the
US Agency for International Development (USAID) to accelerate the progress of clean energy
solutions and promote the use of electric vehicles.
 The memorandum of understanding (MoU focuses on collaboration in the areas of renewable energy
and energy efficiency.
 Its primary objective is to integrate clean energy sources into Indian Railways' operations.
 The partnership also aims to facilitate the acquisition of clean energy solutions that align with
Indian Railways' ambitious goal of achieving net-zero carbon emissions.
 The MoU includes joint initiatives such as organising events, conferences, and capacity-building
programs.
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About USAID
 The United States Agency for International Development is an independent agency of the U.S. federal
government that is primarily responsible for administering civilian foreign aid and development assistance.
 Founded: 3 November 1961 Headquarters: Washington, D.C., United States
 Administrator: Samantha Power
NHAI Launched ‘Knowledge Sharing Platform’ To Share Best Practices For Infrastructure Growth

Monthly BeePedia
June 2023
 The National Highway Authority of India has launched a knowledge-sharing platform to encourage
the inclusive development of national highways.
 The platform is designed to facilitate the sharing of ideas and knowledge by experts and citizens in
the fields of road design, safety, construction, environmental sustainability, and other related fields.
 This platform will motivate people to share the best ideas and practices from around the globe,
which will help in the development of the infrastructure of the National Highways in the country.
 The platform ‘Knowledge Sharing’ seeks to strengthen the engagement and collaboration of ideas
and thoughts among experts and citizens, allowing them to contribute their best practices as a part of
the nation-building process.
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About NHAI
Founded: 1988 Headquarters: New Delhi Chairperson: Alka Upadhyaya
India and Egypt inked deal on strategic partnership
 Prime Minister Narendra Modi and Egyptian President Abdel Fattah El-Sisi signed an agreement to
elevate bilateral relationship to a “strategic partnership.
 The Egyptian president had been the chief guest at India’s republic day celebrations this year. He
has also been invited for the G-20 summit to be held in New Delhi this September.
 Narendra Modi’s visit is the first bilateral trip by an Indian prime minister to Egypt in 26 years.
 Modi was conferred the “Order of the Nile” by President Al-Sisi, which is Egypt’s highest-ranking
honour.
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About Egypt Capital: Cairo
Google to invest 10 billion dollars in India's digitisation fund
 Prime Minister Narendra Modi announced that Google is investing 10 billion dollars in India's
digitisation fund.
 He also announced the opening of Google's global fintech operation centre in GIFT City, Gujarat.
 Amazon has already invested 11 billion dollars and with an intention to invest another 15 billion dollars
bringing the total to 26 billion dollars.
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About Google
Founded: 4 September 1998 Headquarters: California, United States CEO: Sundar Pichai
India joins US-led critical mineral club
 India has been inducted into the Mineral Security Partnership (MSP), a US-led collaboration of 14
countries that aims to catalyse public and private investment in critical mineral supply chains
globally.
 The US enthusiastically welcomes India as the newest partner in the MSP, to accelerate the
development of diverse and sustainable critical energy minerals supply chains globally while
agreeing to the principles of the MSP including environmental, social, and governance standards.

Monthly BeePedia
June 2023
 The MSP is learnt to have weighed the possibility of collaborative work on some 150-odd projects
and shortlisted a dozen projects where members are likely to commence work, including fostering a
critical minerals and metals cooperation forum for sharing of expertise, developing battery materials and
jointly developing a minerals processing facility in South America.
 Besides the US, the MSP includes Australia, Canada, Finland, France, Germany, Japan, the
Republic of Korea, Sweden, UK, the European Commission, Italy, and now India.
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About USA
Capital: Washington, D.C. President: Joe Biden Currency: U.S. dollar
Shri Parshottam Rupala launched NANDI (NOC Approval for New Drug and Inoculation System)
Portal
 Union Minister of Fisheries, Animal Husbandry & Dairying, Parshottam Rupala launched Nandi -
NOC Approval for New Drug and Inoculation System portal at Krishi Bhawan, New Delhi.
 With this portal, DAHD will facilitate the regulatory approval process with transparency to assess
and examine veterinary product proposals will be more streamlined through seamless integration with
the SUGAM portal of Central Drugs Standard Control Organization.
 The launch of the NANDI portal is another notable undertaking following the animal vaccination
coverage initiative and Mobile Veterinary Units (MVUs).
 This initiative would also provide valuable support to researchers and industries from a commercial
perspective.
 With the launch of NANDI (NOC Approval for New Drug and Inoculation System), DAHD continues
to stride towards achieving the interventions laid out as part of its Animal Pandemic Preparedness
Initiative (APPI).
Registration of birth, death by Aadhaar authentication allowed
 The Ministry of Electronics and Information Technology (MEiTY) has given permission to the RGI
office to use the Aadhaar database for authenticating identity details provided during registration of
births and deaths.
 State governments and Union Territories are required to follow the guidelines set by the Ministry
regarding the use of Aadhaar authentication.
 In 2020, rules were notified allowing Aadhaar authentication by requesting entities to ensure good
governance, prevent leakage of public funds, and promote ease of living.
 The Ministry or States must prepare a proposal justifying the need for Aadhaar authentication and submit
it to the Centre, which will then refer it to the Unique Identification Authority of India (UIDAI).
About UIDAI
 UIDAI (Unique Identification Authority of India) is a statutory authority established under the Aadhaar Act, 2016.
 It is responsible for issuing Aadhaar numbers and managing the Aadhaar database, which contains biometric
and demographic information of Indian residents.
 UIDAI ensures the security and confidentiality of Aadhaar data and provides authentication services for
government and private sector organizations.
World Bank approved USD 255.5 million loan to improve technical edu in govt-run institutions

Monthly BeePedia
June 2023
 The World Bank has approved a USD 255.5 million loan for improving technical education in
government-run institutions in India.
 Approximately 275 selected government-run technical institutions will benefit from this funding over
the next five years, impacting over 350,000 students annually.
 The project aims to enhance student skills and employability through measures such as improved
research capabilities, entrepreneurship, and innovation.
 Upgraded curricula will be introduced, focusing on emerging technologies and climate resilience.
 The project will also facilitate improved internship and placement services, promoting networking
opportunities for students.
 The initiative aligns with the Indian government's National Education Policy 2020, with a special
emphasis on promoting gender equality and participation in technical education, especially in STEM fields.
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About World Bank
Established: July 7, 1944 Headquarters: Washington, D.C., U.S. President : Ajay Banga
Biofertilizer scheme gets Central govt.’s green light
 The Cabinet Committee on Economic Affairs (CCEA) approved the PM-PRANAM scheme, which
promotes the use of nutrient-based, biofertilizers for sustainable agriculture.
 The scheme aims to save the soil, promote balanced fertilizer use, and involve the participation of
state governments.
 States that reduce the use of chemical fertilizers will receive a subsidy from the central government.
 The scheme also includes continuation of the urea subsidy scheme to ensure affordable availability
of urea for farmers.
 Nano urea production will be increased, and organic fertilizers from Gobardhan plants will be
promoted.
 Sugarcane farmers will benefit from the FRP hike, with additional incentives for higher recovery
rates.
 Sugar mills with recovery below 9.5% will not face deductions in FRP.
 The decision aims to reduce arrears to farmers and ensure sufficient funds for sugar mills.
Cabinet clears NRF Bill to offer strategic direction to research
 Union Cabinet approves the National Research Foundation (NRF) Bill, 2023.
 NRF to be established as an apex body for scientific research under the National Education Policy
(NEP).
 NRF will provide high-level strategic direction and funding of ₹50,000 crore between 2023 and 2028.
 Department of Science and Technology (DST) will be the administrative department of the NRF.
 Prime Minister will be the ex-officio president of the Board, and Union Ministers of Science and
Technology and Education will be ex-officio vice-presidents.
 NRF will be governed by an executive council chaired by the Principal Scientific Adviser to the
Government of India.

Monthly BeePedia
June 2023
 The new law will repeal the Science and Engineering Research Board (SERB) and subsume it into
the NRF.
 NRF aims to ensure equitable research funding with greater private sector participation.
 Private sector expected to contribute around ₹36,000 crore for research.
 Government will contribute ₹10,000 crore over five years.
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About NEP 2020
 National Education Policy 2020 announced on 29.07.2020.
 The National Education Policy 2020 proposes various reforms in school education as well as higher education
including technical education.
 NEP, 2020 aim to increase the GER to 100% in preschool to secondary level by 2030 whereas GER in Higher
Education including vocational education from 26.3% (2018) to 50% by 2035.
INTERNATIONAL
Canada Announced First Ever Express Entry For Skilled Workers, Launches ‘Digital Nomad
Strategy’ To Win Race For Tech Talent
 Canada has introduced a digital nomad program, “digital nomad strategy” to attract digital talent from
abroad.
 The program allows foreign workers with a foreign employer to live and work in Canada for up to
six months.
 If they receive a job offer while in Canada, they can stay even longer.
 There is an existing program that allows foreigners with a job offer to transition to a Canadian work
permit.
 The strategy also includes a new pathway for permanent residents working in the STEM sectors.
 The government aims to address Canada's skills shortage through these initiatives.
 The program also provides study or work permits for family members of H-1B visa holders.
 Other countries, such as Bali, already offer similar digital nomad visa programs.
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About Canada
Capital: Ottawa Currency: Canadian dollar Prime minister: Justin Trudeau
Diwali to become school holiday in New York City
 Diwali is set to become a school holiday in New York City.

 Mayor Eric Adams announced the inclusion of Diwali as a public school holiday.
 The decision acknowledges the growth of the city's South Asian and Indo-Caribbean communities.
 Diwali will replace Brooklyn-Queens Day on the school holiday calendar.
 Diwali will be observed on November 12 this year and will be a day off from school in 2024.
United Nations Approved Landmark Treaty to Protect Marine Life
 The United Nations approved the first-ever treaty to protect marine life and the high seas.

Monthly BeePedia
June 2023
 The treaty covers nearly half of Earth's surface and safeguards biodiversity in waters beyond national
boundaries.
 It received unanimous approval from delegates representing all 193 member nations.
 The agreement ensures the equitable sharing of benefits derived from the world's oceans.
 Developed nations are willing to share the advantages arising from the ocean's common heritage.
 The treaty operates within the framework of the UN Convention on the Law of the Sea.
 It aims to designate protected areas in the oceans, regulate external influences, and address
concerns like overfishing and pollution.
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About United Nations
Founded: 24 October 1945 Headquarters: New York, United States Secretary general: António Guterres
Satellite industry expert Aarti Holla-Maini appoints as Director of UNOOSA in Vienna
 Indian-origin satellite industry expert Aarti Holla-Maini appointed as Director of UNOOSA.

 Aarti Holla-Maini, from the United Kingdom with roots in Punjab, appointed by UN Secretary-General
Antonio Guterres.
 She has over 25 years of experience in the space sector, including managerial and advocacy roles.
 Aarti is a member of the advisory board of the Satellite Industry Association of India.
 UNOOSA promotes international cooperation in the peaceful use and exploration of space, and in
the utilization of space science technology for sustainable development.
Greece’s centre-right leader Kyriakos Mitsotakis sworn in as Prime Minister
 Kyriakos Mitsotakis has been sworn in as Greece's Prime Minister for a second term.
Learn Along:
About Greece Capital: Athens
Asian Development Bank to provide 400 million US dollars in loans to Bangladesh
 The Asian Development Bank (ADB) will provide 400 million US dollars in loans to Bangladesh for
the construction of 102 kilometers long dual gauge railways between Chattogram and Cox’s Bazar
to promote trade, investment and tourism.
 The loan agreement was signed between the representatives of ADB and the government of
Bangladesh in Dhaka.
 The new rail link is expected to open this year. It aims to transport 2.9 million passengers annually
between Chattogram and Cox's Bazar by 2024.
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 Chattogram-Cox’s Bazar Railway is part of the Trans-Asia Railway (TAR) network, an initiative led by
the United Nations, aiming to provide seamless rail links between Asia and Europe to better connect
people and markets.
 TAR network provides a coordinated plan for developing a regional rail network to support intra-
and inter-regional trade and transport.

Monthly BeePedia
June 2023
 The 128,000-kilometre-long rail network passes through 28 countries and was formalised through
an Inter-governmental Agreement on Trans-Asian Railway network in 2009.
About Bangladesh
Capital: Dhaka Currency: Taka Prime Minister: Sheikh Hasina
China signed deal with cash-strapped Pakistan to set up nuclear power plants
 China inked an agreement worth a whopping USD 4.8 billion with cash-strapped Pakistan to set up
a 1,200-megawatt nuclear power plant as a sign of increasing strategic cooperation between the two
all-weather allies.
 Prime Minister Shehbaz Sharif witnessed the signing of the deal under which Beijing would build a
1,200-megawatt Chashma-V nuclear plant at Chashma in the Mianwali district of Punjab.
 The IMF signed a deal in 2019 to provide USD 6 billion to Pakistan on fulfilment of certain conditions.
Learn Along:
About China
Capital: Beijing Currency: Renminbi
About Pakistan
Capital: Islamabad Currency: Pakistani rupee
India, US to form monitoring group to review tech trade cooperation
 India and the US have decided to set up a regular monitoring group which will review progress in
deepening cooperation in the bilateral high-tech trade and technology partnership between the
two nations.
 This was decided during the inaugural meeting of India-US Strategic Trade Dialogue (IUSSTD), which
was held in Washington D.C..
 The Indian delegation was led by Foreign Secretary Vinay Mohan Kwatra, while the US delegation
was co-led by Alan Estevez, the Under Secretary for Industry and Security, and Victoria Nuland, the
Under Secretary of State for Political Affairs.
 The dialogue is a key mechanism to take forward the strategic technology and trade collaborations
envisaged under the India-US initiative on Critical and Emerging Technologies (iCET).
 IUSSTD focussed on ways in which both governments can facilitate the development and trade of
technologies in critical domains such as semiconductors, space, telecom, quantum, Artificial
Intelligence, defence, bio-tech and others.
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About USA
Capital: Washington, D.C. Currency: U.S. dollar President: Joe Biden
Latvia’s parliament elected popular foreign minister Edgars Rinkevics as the new president
 The Latvian lawmakers elected the popular and long-time foreign minister Edgars Rinkevics as the
Baltic nation’s next president.

Monthly BeePedia
June 2023
 The 49-year-old will also become the first openly gay president in the Baltic nation and will represent
the European Union and NATO member nations at the security alliance’s upcoming summit in Vilnius,
Lithuania.
 Rinkevics will serve a four-year term and is expected to be sworn in on July 8.
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About Latvia
Capital: Riga Currency: Euro
UAE withdrew from U.S.-led maritime coalition in the Gulf
 The United Arab Emirates has withdrawn from a U.S.-led maritime coalition tasked with securing
tense Gulf waterways that are vital to the global oil trade.
 The Bahrain-headquartered Combined Maritime Forces was established in 2001, initially as a
partnership between 12 nations.
 The UAE remains a partner nation, despite putting its participation on hold.
 The CMF still includes 38 partner nations, of which the UAE is one.
Learn Along:
About UAE
Nigeria: Bola Tinubu Sworn in as President
 Bola Tinubu was sworn in as the new president of Nigeria on May 29, amid pressure to resolve
sustained economic and security issues plaguing the country.
 The inauguration took place in the capital Abuja at Eagles Square, with local and foreign dignitaries
in attendance.
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About Nigeria
Capital: Abuja Currency: Naira
Argentina's Celeste Saulo became first woman leader of World Meteorological Organization
 Celeste Saulo of Argentina has been appointed as the first female Secretary-General of the World
Meteorological Organization (WMO).
 Saulo won a landslide vote at the UN Climate and weather agency's Congress in Geneva.
 Saulo has served as the director of Argentina’s National Meteorological Service since 2014.
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About Argentina
Capital: Buenos Aires President: Alberto Fernández
UAE to Host World’s Largest Conservation Conference in 2025
 The United Arab Emirates (UAE) has won the bid to host the 2025 World Conservation Congress
(WCC) of the International Union for Conservation of Nature (IUCN).

Monthly BeePedia
June 2023
 The WCC is the world’s largest and most important gathering of conservationists, and it is expected
to draw more than 10,000 delegates from over 160 countries.
 The 2025 WCC will be held in Abu Dhabi from October 10-21, 2025.
 The event will be an opportunity for conservationists from around the world to come together and
discuss the most pressing environmental challenges facing our planet.
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About IUCN
 Established : 1948 Headquarters: Gland, Switzerland President: Razan Al Mubarak
 IUCN has evolved into the world’s largest and most diverse environmental network.
 Today the organisation is well known for its knowledge products, such as the Red List of Species, Red List
of Ecosystems, Key Biodiversity Areas and the Green Lists which are widely used in setting conservation
priorities for threatened species, ecosystems and in identification of important areas for protection.ommendations
that will help to guide future conservation efforts.
About UAE
UAE WINS PRESIDENCY OF WORLD METEOROLOGICAL ORGANIZATION
 A meteorologist of United Arab Emirates (UAE) Dr Abdulla Al Mandous has been elected as the new
President of the World Meteorological Organization (WMO) for a four-year term from 2023 to 2027.
 The WMO is an authoritative body within the UN system that focuses on weather, climate,
hydrological, and related environmental fields.
 The election took place during the 19th session of the World Meteorological Congress (Cg-19) held
in Geneva, Switzerland from 22nd May to 2nd June.
 He will succeed Prof Gerhard Adrian from the German Meteorological Service, who served as WMO
President since June 2019.
 Under Dr. Al Mandous’ leadership, WMO’s upcoming 77th Executive Council Session (EC-77) will be
chaired by the UAE in Geneva from 5th to 6th June.
US Vice President Kamala Harris announced more than 100 million US Dollars assistance for
Caribbean
 United States Vice President Kamala Harris has announced USA is investing more than 100 million
US Dollars in the Caribbean region to crack down on weapons trafficking, help alleviate Haiti’s
humanitarian crisis and support climate change initiatives.
 As part of the initiatives announced, the US justice department expects to appoint a coordinator to
oversee cases involving illegal weapons smuggling in the Caribbean, as island nations report a rise
in violent crimes.
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About USA
U.S., U.K. forge ‘Atlantic Declaration’ to boost ties

Monthly BeePedia
June 2023
 The United States and Britain announced a new strategic pact as their leaders rededicated the
“special relationship” to counter Russia, China and economic instability.
 In a White House summit, U.S. President Joe Biden and Prime Minister Rishi Sunak discussed Russia’s
invasion of Ukraine and the lightning-fast evolution of artificial intelligence.
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About USA
About UK
Capital: London Prime minister: Rishi Sunak
UN Security Council to welcome five new non-permanent members
 Algeria, Guyana, Republic of Korea, Sierra Leone and Slovenia will join UN Security Council for
maintaining international peace and security, starting in January, serving for a two-year period.
 The five newly elected countries will join Ecuador, Japan, Malta, Mozambique and Switzerland as
non-permanent members of the Council.
 They will take up seats currently occupied by Albania, Brazil, Gabon, Ghana and the United Arab
Emirates when their two-year terms end on 31 December.
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About UN
 Founded: 24 October 1945 Headquarters: New York, United States Secretary general: António Guterres
 The Security Council is composed of 15 countries, five of which - China, France, Russia, the United Kingdom
and the United States – are permanent members, granting them the right to veto any resolution or decision.
 The 10 non-permanent members are elected by the General Assembly, which comprises all 193 UN Member
States, and in line with geographical distribution by region.
Germany prepared to host NATO's biggest ever air exercise over Europe
 Germany is preparing to host the biggest air deployment exercise “Air Defender 23” in NATO's history.
 The Air Defender 23 exercise will see 10,000 participants and 250 aircraft from 25 nations respond
to a simulated attack on a NATO member country.
 The United States alone is sending 2,000 U.S. Air National Guard personnel and about 100 aircraft
to take part in the June 12-23 training manoeuvres.
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About Germany
 Capital: Berlin Currency: Euro
About NATO
 The North Atlantic Treaty Organization, also called the North Atlantic Alliance, is an intergovernmental military
alliance between 31 member states – 29 European and two North American.
 Headquarters : Brussels, Belgium
Joe Biden and Rishi Sunak unveiled ‘Atlantic declaration’ to strengthen economic ties
 US President Joe Biden and UK Prime Minister Rishi Sunak agreed an “Atlantic declaration” to
strengthen economic ties between the US and The UK, in a further sign of the allies turning their back
on globalisation and trying to cut China out of supply chains.
Monthly BeePedia
June 2023
 The declaration aims to increase US-UK trade in areas such as defence, nuclear materials and the
critical minerals used in electric-car batteries, as Biden tries to build “economic security” among western
allies.
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About USA
World Bank to approve substantial aid package worth 700 million to crisis-hit Sri Lanka
 World Bank is to approve a substantial aid package worth $700 million to crisis-hit Sri Lanka.
 It would allow the largest funding tranche the island nation has received since securing a deal with
the International Monetary Fund in March.
 The proposed funding would comprise $500 million for budgetary support, likely to be disbursed in
two installments of $250 million each.
 Additionally, an allocation of $200 million will be earmarked for programs aimed at assisting the
country's impoverished population, which has swelled to 25% in the wake of last year's severe
economic crisis.
 In March, the International Monetary Fund approved a rescue package of nearly $3 billion.
Learn Along:
About IMF
Formation: 27 December 1945 Headquarters: Washington, D.C., U.S.
Managing Director: Kristalina Georgieva
About Sri Lanka

Capitals: Colombo, Sri Jayawardenepura Kotte Currency: Sri Lankan rupee
India, Sri Lanka to accelerate implementation of digital education project in Galle District
 India and Sri Lanka look to accelerate implementation of a digital education project in the Galle
District.
 High Commissioner of India to Sri Lanka, Gopal Baglay exchanged diplomatic notes with Secretary of
the Sri Lankan Ministry of Education M.N. Ranasinghe to expedite the establishment of modern
computer labs and smart boards equipped with customized curriculum software in 200 schools.
 The project, supported by a grant from the Government of India, aims to enhance digital literacy
among students in underprivileged areas.
 It is one of several grant projects in the education sector undertaken by the Indian government in Sri
Lanka.
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 India's development assistance to Sri Lanka currently amounts to approximately USD 5 billion, with nearly
USD 600 million provided as grants.
 Over 65 grant projects have already been implemented across the country's 25 districts, and more than 20
projects are in various stages of implementation.
Bangladesh floats currency for first time to get more IMF funds
Monthly BeePedia
June 2023
 Bangladesh’s central bank will allow the currency to float freely for the first time in the country’s
history, giving into demands from the International Monetary Fund in order to unlock more money from
the $4.7 billion loan program.
 Pakistan, Egypt and Lebanon were among those that have dropped their fixed exchange rates this
year.
 The new market-driven exchange rate regime will provide “greater transparency and efficiency in
foreign exchange transactions, benefiting businesses, individuals and the economy.
 Since becoming an independent country in 1971, Bangladesh has made use of a series of fixed
exchange rates to manage volatility and keep imports affordable.
 A looser currency regime could now help replenish Bangladesh’s reserves by raising the attractiveness
of the nation’s exports.
 Bangladesh Bank will now adopt a unified exchange rate regime between the taka and the dollar or
any other foreign currency and from July 1.
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About Bangladesh
Capital: Dhaka Currency: Taka Prime Minister: Sheikh Hasina
US planned to rejoin in July
 The United Nations’ cultural and scientific agency UNESCO has announced that the United States plans
to rejoin – and pay more than $600m in back dues – after a decade-long dispute sparked by the
organisation’s move to include Palestine as a member.
 The proposed plan to rejoin in 2023 would be submitted to the General Conference of UNESCO
Member States for final approval.
 The decision is a big financial boost to UNESCO, known for its World Heritage programme as well
as projects to fight climate change and teach girls to read.
 The US and Israel stopped funding the agency after it voted to include Palestine as a member state
in 2011, and both countries lost their voting rights in 2013.
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About UNESCO
 The United Nations Educational, Scientific and Cultural Organization is a specialized agency of the United
Nations aimed at promoting world peace and security through international cooperation in education, arts,
sciences and culture.
 Headquarters: Paris, France Founded: 16 November 1945
About USA
Capital: Washington, D.C. President: Joe Biden
Google Faces EU Charges Over Anti-Competitive Practices
 According to The EU antitrust regulator, Google is favouring its own online display advertising
technology services to the detriment of competing providers of advertising technology services.
 Alphabet's Google has been charged by European Union's antitrust regulators for anti-competitive
practices in its digital advertising business.
Monthly BeePedia
June 2023
 According to the 'Statement of Objections' sent to Google by the Commission over "abusive
practices in online advertising technology" (adtech) the company may have to sell part of its
advertising business to address antitrust regulators' concerns.
 The advertising revenue for 2022, encompassing various services such as search, Gmail, Google Play,
Google Maps, YouTube adverts, Google Ad Manager, AdMob, and AdSense, reached a substantial
$224.5 billion.
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About Google
Founded: 4 September 1998 Headquarters: California, United States CEO: Sundar Pichai
About European Union

 The European Union is a supranational political and economic union of 27 member states that are located
primarily in Europe.
 Founded: 1 November 1993
Oman Creates History as First Foreign Government to Promote Country through Yoga
 In a pioneering initiative, the Indian Embassy in the Sultanate of Oman has introduced an innovative
video called 'Soulful Yoga, Serene Oman' on the eve of the International Day of Yoga 2023.
 The video showcased yoga enthusiasts from different countries performing beautiful yoga poses
against stunning backdrops such as mountains, beaches, and sand dunes in and around Muscat.
 The Indian Embassy partnered with 'Visit Oman,' a subsidiary of Oman's Ministry of Tourism, to
produce the video.
 This marks the first instance of a foreign government using yoga to promote its own country.
 In 2022, 'Muscat Yog Mahotsav,' a 75-day celebration featuring over 75 yoga events across major
cities in Oman timed with the 75 years of India’s independence under ‘Azadi ka Amrit Mahotsav.’
 The event, scheduled for June 21, 2023, is expected to attract more than 2,000 participants from
diverse backgrounds.
 The collaboration between the Indian Embassy and the Government of Oman aims to visually
demonstrate the fusion of yoga's tranquility with Oman's picturesque landscapes.
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About Oman
Capital: Muscat Currency: Omani rial
United Nations adopted first-ever treaty to protect marine life in high seas
 The United Nations has adopted the first-ever treaty to protect marine life in the high seas.
 The treaty to protect biodiversity in waters outside national boundaries, known as the high seas, covering
nearly half of earth's surface, had been under discussion for more than 20 years as efforts to reach
an agreement had repeatedly stalled.
 The new treaty will be opened for signatures on September 20, during the annual meeting of world
leaders at the General Assembly, and it will take effect once it is ratified by 60 countries.
Learn Along:
Founded: 24 October 1945 Headquarters: New York, United States
Secretary general: António Guterres
Monthly BeePedia
June 2023
Finnish parliament elected conservative Petteri Orpo as PM
 Finland's parliament on June 20, elected conservative Petteri Orpo as prime minister at the head
of a four-party coalition including the far-right Finns Party which plans a major crackdown on
immigration.
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About Finland
Capital: Helsinki Currency: Euro
Estonia legalizes same-sex marriage, a first for Central Europe
 Estonia's parliament approved a law to legalise same-sex marriage, making it the first central
European country to do so.
 Same-sex marriage is legal in much of western Europe but not in central European countries
which were once under communist rule and members of the Moscow-led Warsaw Pact alliance but now
members of NATO and, largely, the EU.
 The law will come into effect from 2024.
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About Estonia
Capital: Tallinn Currency: Euro
STATES
Maharashtra govt signed MoU with Bajaj Finserv to invest Rs 5,000 crore in Pune
 The Maharashtra government has signed a Memorandum of Understanding - MoU with Bajaj Finserv
in Mumbai.
 Under this MoU, the non-banking finance company will invest 5,000 crore rupees in Pune which is
expected to create 40,000 jobs.
 Pune is gradually becoming a hub for financial services and the latest development involving Bajaj
Finserve would boost the sector.
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About Bajaj Finserv
 Bajaj Finserv Limited is an Indian non-banking financial services company headquartered in Pune.
 It is focused on lending, asset management, wealth management and insurance.
About Maharashtra
Capital: Mumbai; Nagpur Chief minister: Eknath Shinde Governor: Ramesh Bais
India's first carbon neutral village being developed in Bhiwandi Taluka of Thane district
 India's first carbon neutral Village is being developed in Bhiwandi Taluka of Thane district.
 As much as 121 tribal villages are being developed as model villages.
Monthly BeePedia
June 2023
 1 lakh 75 thousand farmers are taking the benefit of Pradhan Mantri Kisan Samman Yojana in
Bhiwandi Lok Sabha Constituency.
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 Palli village located in the Samba district of Jammu became India’s first panchayat to become carbon neutral,
fully solar energy powered, and all its records have been digitized which will help in receiving all benefits of Central
schemes easily.
Ahmednagar will now be renamed ‘Ahilya Nagar’
 Maharashtra Chief Minister Eknath Shinde announced Ahmednagar city would be renamed ‘Ahilya
Nagar’ after the 18th century Maratha queen Ahilyabai Holkar.
 The move follows the government approving a proposal in February to rename Aurangabad as
‘Chhatrapati Sambhajinagar’ and Osmanabad as ‘Dharashiv’.
Maharashtra Cabinet approved implementation of Gender Inclusive Tourism Policy
 In order to empower women in the tourism sector, the Maharashtra Cabinet approved the
implementation of the 'Gender Inclusive Tourism Policy called 'Aai' under the 'Ajadi Ka Amrit
Mahotsav'.
 Similarly, approval was also given to start women's bike-taxi services at some tourist spots in the
State.
 The policy will be implemented through Directorate of Tourism and Maharashtra Tourism
Development Corporation in coordination with various schemes of all concerned departments.
 In this policy, the five principles of women entrepreneurship development, infrastructure for women,
prioritizing the safety of women tourists, customized products for women tourists, discounts and
travel and tourism development will be adopted.
Maharashtra CM Eknath Shinde launches Asia's largest cluster development scheme in Thane
 Maharashtra Chief Minister Eknath Shinde has launched Asia's largest, ambitious and historic
cluster development scheme in Thane.
 This scheme was conceptualized for the collective redevelopment of unauthorized and official
dangerous buildings after the collapse of the Sairaj Building in Thane which had claimed 18 lives.
 The redeveloped township plan includes well-equipped health, educational, sports, recreational,
parking, mandi, and civic facilities.
 The CIDCO will execute the project. Under the project, the integrated redevelopment project will be
done on the lines of townships.
 Chief Minister Shinde announced that the scheme will be implemented not only in Thane but also in
Mumbai and the Mira-Bhayandar area of Thane district.
 10,000 houses will be constructed in the first phase of cluster development in Thane on 1500 acre area.
Haryana government gave subsidies upto 75% on solar pumps under PM-KUSUM scheme
 The Haryana government is giving subsidies up to 75 percent on solar pumps under the PM-KUSUM
(Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme.
Monthly BeePedia
June 2023
 The farmers who had applied for One HorsePower to 10 Horse Power electricity-based agricultural
tube-wells from the year 2019 to 2021 can take advantage of the PM Kusum Yojana.
 Haryana Government is giving 75 percent subsidy on solar pumps under this scheme.
Learn Along:
About PM KUSUM Scheme
 The Government of India launched KUSUM Scheme or Pradhan Mantri Kisan Urja Surakshaevam Utthaan
Mahabhiyan Yojana in March 2019.
 This scheme was announced by the Ministry of New and Renewable Energy (MNRE), aiming for growth in
income for Indian farmers.
The main objectives of this scheme are:
 The solar pumps assist our farmers in much more effective and eco-friendly irrigation as these are capable of
generating safer energy.
 In addition, the pump sets comprise an energy power grid that generates more energy than diesel driven pumps.
Farmers will be able to sell the extra power to our Government directly to enhance their income.
About Haryana
Capital: Chandigarh Chief minister: Manohar Lal Khattar Governor: Bandaru Dattatreya
Bangladesh Liberation War Gallery opened at Indian Cultural Centre
 A special gallery on Bangladesh Liberation War has been launched at Indian Cultural Centre in
New Delhi to provide a glimpse of sacrifices in shared history of two neighbouring countries.
 The gallery will be a testament to the enduring bonds of friendship between India and Bangladesh,
showcasing the heroic stories, photographs and documents from the 1971 War of Liberation of
Bangladesh.
 It will offer visitors an inspiring journey through the history of the two countries and serve as a
symbol of valour, resilience, and the indomitable spirit of the people of Bangladesh.
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About Bangladesh
Capital: Dhaka Currency: Taka
Mekedatu project
 Karnataka's Deputy Chief Minister D K Shivakumar urged the Tamil Nadu government to support
the construction of the Mekedatu balancing reservoir near Kanakapura.
 ₹1,000 crore was earmarked for the Mekedatu reservoir project after Congress marched for water (in
2021). However, the project is yet to start and the new government will have to make the requisite
preparations.
 The Mekedatu multi-purpose project in Karnataka involves constructing a reservoir near Kanakapura
to provide drinking water to Bengaluru and neighboring areas while generating 400 MW of power.
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About Karnataka
Capital: Bangalore Chief minister: Siddaramaiah Governor: Thawar Chand Gehlot
Kerala CM Pinarayi Vijayan launches Kerala Fibre Optic Network project
Monthly BeePedia
June 2023
 Kerala Chief Minister Pinarayi Vijayan launched the KFON, Kerala Fibre Optic Network project at
Shankaranarayanan Thambi Hall of the State Legislative Assembly.
 The project aims to ensure internet facilities for all at affordable rates in the State.
 It also aims to give free internet to over twenty lakh of poor families.
 By providing internet facilities at a lower rate, Kerala aims to bridge the digital divide in the society.
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About Kerala
Capital: Thiruvananthapuram Chief minister: Pinarayi Vijayan Governor: Arif Mohammed Khan
India's Tata Group signed $1.6 billion EV battery plant deal
 India's Tata Group signed an outline deal on building a lithium-ion cell factory, based on investment
of about 130 billion rupees ($1.58 billion), as part of the nation's efforts to create its own electric
vehicle supply chain.
 Compared to the size of its population, India's car market is tiny. Tata Motors dominates its electric vehicle
(EV) sales, which made up just 1% of India's total car sales of about 3.8 million last year.
 According to a joint statement on the memorandum of understanding, between Tata's unit Agratas
Energy Storage Solutions and the government of the western state of Gujarat work on the plant, to
be based in Sanand, northern Gujarat, was expected to start in less than three years.
 It would have initial manufacturing capacity of 20 Gigawatt hours (GWh), which could be doubled in a
second phase of expansion.
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About Gujarat
Capital: Gandhinagar Chief minister: Bhupendrabhai Patel Governor: Acharya Devvrat
Reckitt Celebrated World Environment Day 2023 with the Launch of First Dettol Climate Resilient
School in Chardham at Dev Bhoomi Uttarakhand
 Reckitt, world’s leading consumer health and hygiene company, under its flagship campaign Dettol
Banega Swasth India in partnership with PLAN India under the project Dettol School Hygiene
Education Program, inaugurated first Dettol Climate Resilient School in Uttarkashi, a district in
Uttarakhand on World Environment Day.
 Government Higher Secondary School in Athali, Uttarkashi is first amongst the four schools to be
developed in Uttarakhand in Gangotri, Yamunotri, Kedarnath and Badrinath.
 The project aims to create a sustainable school environment across the state by reducing carbon
footprint, enhancing energy efficiency, and promoting awareness and education around climate
change among students, teachers, and the community.
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 India is the seventh most vulnerable country to climate change impact, according to the Global Climate Risk
Index 2021.
 During the Glasgow summit in 2021, India took another step towards its commitment to achieve Net Zero
Emissions by 2070 by introducing the LiFE (Lifestyle for the Environment) movement.)
 Dettol Climate Resilient Schools follows the LiFE framework which guides governments, institutions, and
societies to transition towards mindful resource utilization.
About Uttarakhand
 Capital: Dehradun Chief minister: Pushkar Singh Dhami Governor: Gurmit Singh
Monthly BeePedia
June 2023
Madhya Pradesh Govt to launch CM Learn and Earn scheme
 In Madhya Pradesh, Chief Minister’s Learn and Earn scheme – will be launched to teach employable
skills to the youth. In the scheme, 703 work areas have been identified for training.
 The most important aspect of this learn-and-earn scheme is that along with learning skills, the youth
will also be given an allowance of Rs 8,000 to 10,000.
 At least one lakh youth will be provided training under the scheme.
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About Madhya Pradesh
Capital: Bhopal Chief minister: Shivraj Singh Chouhan Governor: Mangubhai C. Patel
Free bus travel for women: Powerful mechanism for empowerment
 The scheme for free travel for women ‘Shakti’ will be launched on June 11 across the State in Karnataka
and will be applicable in all buses except air-conditioned (AC) and luxury buses.
 Women passengers can travel for free in 94% of buses across the state. However, they can not travel
free of cost outside the state.
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About Karnataka
Capital: Bangalore Chief minister: Siddaramaiah Governor: Thawar Chand Gehlot
Uttar Pradesh Government launched Nand Baba Milk Mission scheme
 In a bid to make Uttar Pradesh a leading State in the field of milk development and milk production, the
State Government has launched the Nand Baba Milk Mission scheme at a cost of ₹1,000 crore.
 The Nand Baba Milk Mission scheme, which was launched on June 6, has been implemented to
provide milk producers the facility of selling their milk at a reasonable price in villages through dairy co-
operative societies.
 Under this mission, it is proposed to form Dairy Farmer Producer Organisation [Dairy FPO] in order to
facilitate sale of milk in producers’ villages itself.
 In the financial year 2023-24, there is a plan to set up five Dairy FPOs in as many districts of the State
as a pilot project, in which women will also play a major role.
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About Uttar Pradesh
Madhya Pradesh Govt to launch CM Learn and Earn scheme
 In Madhya Pradesh, Chief Minister’s Learn and Earn scheme – will be launched to teach employable
skills to the youth. In the scheme, 703 work areas have been identified for training.
 The most important aspect of this learn-and-earn scheme is that along with learning skills, the youth
will also be given an allowance of Rs 8,000 to 10,000.
 At least one lakh youth will be provided training under the scheme.
Learn Along:
Monthly BeePedia
June 2023

Madhya Pradesh CM Shivraj Chouhan released Rs 1,000 under Ladli Behna Yojana
 Madhya Pradesh Chief Minister Shivraj Singh Chouhan put the first installment of Rs 1,000 into the
bank accounts of beneficiary women under the Ladli Behna Yojana, 2023, a scheme to financially
support the women of the state.
 Upon securing additional funds, The Governent is intended to further increase the financial support
to Rs 2,200, Rs 2,500, Rs 2,700, and finally Rs 3,000 per month.
 The scheme is applicable to women of age 23 years and above. However, now it has been relaxed to
21 years.
 So far, married women of 23 years have benefited from this scheme, but under the Mukhyamantri
Kanyadan scheme, many daughters got married at the age of 21, so now 21-year-olds too will avail
the benefit of Ladli Behna Scheme.
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Udhampur-Doda Parliamentary Constituency is among the most developed
 The ‘Udhampur-Doda-Kathua’ Parliamentary Constituency is the most developed constituencies in

India among the 550 Parliamentary Constituencies in the country.
 Udhampur-Doda-Kathua’ Parliamentary Constituency is only Constituency in India having three
medical Colleges with the best infrastructure and All India Institute of Medical Sciences (AIIMS) is also
located in this constituency making it the best Constituency in India with the state-of-the-art health care
facilities.
 This constituency has earned its name in India and in the world as the birthplace of ‘Purple Revolution’
which has given birth to Agri-tech Start-Ups not only in J&K but across the country.
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About Jammu and Kashmir
Capital : Srinagar (Summer), Jammu (Winter) LG: Manoj Sinha
80 castes to be added to Central OBC list
 Approximately 80 more castes in six States are now likely to be added to the Central List of Other
Backward Classes (OBCs) in the coming months, with the National Commission for Backward Classes
(NCBC) already processing the approval for most of them.
 In a report released by the Ministry of Social Justice and Empowerment (MSJE) last week, the
government had facilitated the addition of as many as 16 communities to the Central list of OBCs in
Himachal Pradesh, Bihar, Jharkhand, Madhya Pradesh and Jammu and Kashmir.
 The communities that are now likely to be added to the Central list are from States such as Maharashtra,
Telangana, Andhra Pradesh, Himachal Pradesh, Punjab, and Haryana.
 The Maharashtra government has asked that the Lodhi, Lingayat, Bhoyar Pawar, Jhandse
communities in the State also be added to the Central list of OBCs.
Monthly BeePedia
June 2023
 Similarly, Punjab has asked for the Yadav community to be included and Haryana has asked for the
Gosai/Gosain community to be added.
Palkhi Festival
 Palki festival showcases the distinctive feature of the Maharashtrian culture.

 This is a 1000-year-old tradition, which has been following by the warkaris (people who follow the wari,
a fundamental ritual).
 People perform collective singing, dancing, chanting (Dnyanba-Tukaram in what are called as Dindis
or organised group of warkaris) to the holy town of Pandharpur in Hindu months of Ashadh (June-
July) and Karthik (November-December).
 Palkhi Festival, which lasts for 22 days, starts in the month of Jyeshth (June). Every year on the
eleventh day of the first half of the month of Ashadh, the Palkhi reaches Pandharpur.
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About Maharasthra
Capital: Mumbai Chief minister: Eknath Shinde Trending Governor: Ramesh Bais
Farmers in Rajasthan to get housing loans under cooperative scheme
 Farmers in Rajasthan will get housing loans under the Cooperative Village Housing Scheme.
 Under the scheme, which was launched recently, the farmers will get loans to build houses in their
agricultural fields.
 The farmers will be provided loans up to Rs 50 lakh from central cooperative banks in three instalments.
The loan will be for the long term, that is, up to 15 years.
 The banks have been given a target of disbursing Rs 11,811 crore for kharif 2023 and Rs 10,189 crore
for rabi 2023-24.
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About Rajasthan
Capital: Jaipur Chief minister: Ashok Gehlot Governor: Kalraj Mishra
Odisha: Lord Jagannath Rath Yatra to begin in Puri
 The Jagannath Puri Rath Yatra is an important annual festival held in Odhisha's Puri.
 It is an annual chariot festival dedicated to Lord Jagannath.
 The Puri Rath Yatra 2023 is celebrated from June 20 and devotees from across the country visit the
state and the temple town during this period.
 Apart from Odisha, the world-famous Rath Yatra Festival is also celebrated in Gujarat.
 The 'Ratha Yatra' Festival celebrated in Ahmedabad is considered to be the second biggest Rath Yatra
in the country after the Puri Jagannath Rath Yatra.
Learnn Along:
About Odisha
Capital: Bhubaneswar Chief minister: Naveen Patnaik Governor: Ganeshi Lal
UP Prisons To Be Known As Reform Homes
Monthly BeePedia
June 2023
 Uttar Pradesh Chief Minister Yogi Adityanath expressed the need to establish prisons as 'Sudhaar
Grah' (Reform Homes) and issued instructions regarding the preparation of the new Prison Act of
the state.
 In the present time, the Jail Act of 1894 and the Prisoners Act of 1900 are in effect concerning prisoners
detained in jail. Both of these acts have been in practice since before independence, and many of
their provisions do not align with changing circumstances and a rehabilitative ideology for prisoners.
 The objective of the Prison Act of 1894 is to maintain discipline and control over offenders in custody,
but we need to focus on reform and rehabilitation.
The Model Prison Act - 2023
 The Model Prison Act - 2023 has recently been prepared by the Government of India.
 This Model Act is very useful from the point of view of reformation and rehabilitation of prisoners.
 According to this Model Act, a new Prison Act of the state would be prepared keeping in mind the
needs of the state.
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About Uttar Pradesh
Centre allocated Rs 145 cr to Nagaland for setting up Unity Mall
 The central government has allocated Rs 145 crore to Nagaland for the proposed ‘Unity Mall’ by the
state government in Dimapur.
 The Union Budget for 2023-24 has allocated Rs 5,000 crore for the construction of Unity Malls across
the country.
 These malls will function as a one-stop marketplace for One District One Products across the country.
 The ODOP initiative is a program aligned with the goal of inclusive development across all districts
of India.
 The objective is to identify and promote a distinct product from each district, thereby creating a niche
identity for them.
 Over 1000 products have been selected from all 761 districts of the country. The products are selected
by the State Government in consultation with district administration.
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About Nagaland
Capital: Kohima Chief minister: Neiphiu Rio Governor: La. Ganesan Iyer
Construction on the ‘world’s largest Ramayan temple’ begins in Bihar
 Construction work began on June 20 for the “world’s largest Ramayan temple” in Bihar’s East
Champaran district.
 The construction of the three-storeyed Viraat Ramayan temple will be completed by the end of 2025
at an estimated cost of ₹500 crore.
 The temple will be taller than the 12th century Angkor Wat temple complex at Cambodia.
 The temple will be constructed in 3.76 lakh sq. ft. land in the Kaithwalia-Bahuara villages under the
Kalyanur block on Kesaria-Chakia road in East Champaran district, about 120 km from the State capital,
Patna.
Monthly BeePedia
June 2023
 The architecture of the world’s largest temple is inspired by the Angkor Wat complex in Cambodia,
and in south India, the Ramanathaswami temple in Rameshwaram and the Meenakshi
Sundareshwarar temple in Madurai.
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About Bihar
Capital: Patna Chief minister: Nitish Kumar Governor: Rajendra Arlekar
Yoga Day event in Surat has set new Guinness World Record
 The Yoga Day event in Surat had set a “new Guinness World Record” for the largest gathering of
people for a yoga session in one place.
 More than one lakh people took part in the event.
 The previous record reportedly dates back to 2018, when 100,984 people attended a session held at
Patanjali Yogapeeth in Kota, Rajasthan.
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About Rajasthan
Capital: Jaipur Chief minister: Ashok Gehlot Governor: Kalraj Mishra
Fintech giant Paytm partners with Arunachal Pradesh to grow startup ecosystem
 Indian Fintech giant Paytm has partnered with Arunachal Pradesh Innovation and Investment Park
(APIIP) to support young entrepreneurs in the northeastern state.
 The collaboration aims to create a startup ecosystem and boost business ventures for the youth.
 Paytm will offer its products to early-stage startups at discounted prices and provide free credits
through the Paytm Startup toolkit.
 The initiative is expected to encourage and support young entrepreneurs in the state.
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About Paytm
Founded: August 2010 CEO: Vijay Shekhar Sharma
J&K Govt Chooses Blue Pansy as ‘State Butterfly’
 The Government of Jammu and Kashmir has officially designated the Blue Pansy (Junonia Orithya)
as the ‘State Butterfly’ of the Union Territory.
 With its vibrant blue and black wings adorned with striking orange spots, the Blue Pansy creates a
mesmerizing sight as it gracefully flutters through the meadows and gardens of Jammu and Kashmir.
 The declaration of the Blue Pansy as the ‘State Butterfly’ aims to raise awareness and promote
conservation efforts for the rich biodiversity found in Jammu and Kashmir.
 It symbolizes the region’s commitment to preserving and safeguarding the natural environment
for future generations.
 As the newly appointed ‘State Butterfly,’ the Blue Pansy will assume the role of an ambassador for
environmental education, encouraging both citizens and visitors to appreciate the significance of
conserving Jammu and Kashmir’s ecological heritage.
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About J&K
Union territory: 31 October 2019 Lieutenant Governor: Manoj Sinha
Monthly BeePedia
June 2023
Assam To Get Its 1st Underwater Railroad Tunnel Across Brahmaputra Soon
 Assam’s first underwater railroad tunnel will be built between Numaligarh and Gohpur.
 The project will cost around Rs 6,000 crore.
 It will be built under the Brahmaputra River and will be around 35 kilometres long.
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About Assam
Capital: Guwahati Chief minister: Himanta Biswa Sarma Governor: Gulab Chand Kataria
QCI and Odisha Government launch Odisha Gunvatta Sankalp in Bhubaneswar
 The Government of Odisha & the Quality Council of India, in collaboration with industry associations
– ASSOCHAM, FICCI, EEPC, OASME, PHDCCI, CIPET, FHRAI - launched the Odisha Gunvatta
Sankalp (Odisha Quality Mission) at Bhubaneswar an aim to bring critical quality interventions in
sectors like education, healthcare, skill development and tourism.
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 The Quality Council of India, established in 1997 by the Government of India and the Indian industry, is the apex
organisation in India responsible for establishing and operating the third-party national accreditation
system, improving quality across sectors and advising the government and other stakeholders on all matters
concerning quality.
REC Ltd to extend financial assistance of Rs 3,045 crore to Bangalore Metro Rail Corporation
 REC Limited, a Public Sector Enterprise under the Union Ministry of Power announced has decided to
extend financial assistance of Rs 3,045 crore to Bangalore Metro Rail Corporation Limited (BMRCL),
for establishing and developing metro lines under Phase-II project of Bangalore Metro.
 The Phase-II project of Namma Metro comprises extension of existing two corridors of Phase-I, namely
East–West Corridor and North–South Corridor; and 2 new lines, namely one from RV Road to
Bommasandra and another from Kalena Agrahara to Nagawara.
 These lines will ease the high-traffic areas of the city. With the completion of the Phase-II, the combined
network of Namma Metro will be 114.39 km, with 101 stations.
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 REC Limited is the NBFC focusing on power sector financing and development across the country and the
financial assistance to BMRCL is part of its foray into funding infrastructure development.
 REC Ltd offers financial assistance to the complete power sector value chain; for various types of projects
including generation, transmission, distribution and renewable energy.
Two -day long annual festival Hemis Tseschu celebrates in Ladakh
 Hemis Monastery Festival (Hemis Tseschu) is a two-day annual festival celebrated in Ladakh.
 The festival is held with great religious fervor and gaiety at the Hemis Monastery.
 It commemorates the birth anniversary of Guru Padma Sambhava.
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About Ladakh
Union territory: 31 October 2019
Monthly BeePedia
June 2023
Gujarat, Micron sign MoU for semiconductor plant at Sanand
 Micron Technology Inc signed an MoU with the Gujarat government to establish a Rs 22,500-crore
semiconductor unit in Sanand near Ahmedabad.
 The project, named Project Pioneer, aims to train young engineers in semiconductor manufacturing skills
and collaborate with academia in India.
 The project aims to create 5,000 direct jobs and focus on manufacturing memory-chips.
 The facility into integrated circuit packages, memory modules, and solid-state drives.
 This is the second MoU signed by the Gujarat will be commissioned within 18 months and will
transform wafers government with a semiconductor manufacturer.
 The project is expected to make India a global semiconductor manufacturing hub.
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 Micron Technology is one of the largest manufacturers of memory cards.
 India currently imports semiconductors worth Rs 3 lakh crore, and becoming self-reliant in memory chips
production will contribute to the country's self-sufficiency.
About Gujarat
Seven products from Uttar Pradesh get Geographical Indication tag
 Geographical Indications Registry in Chennai has given GI tags to seven products from Uttar
Pradesh.
 The products with GI tags are: Amroha Dholak, Mahoba Gaura Patthar Hastashlip, Mainpuri Tarkashi,
Sambhal Horn Craft, Baghpat Home Furnishings, Barabanki Handloom Product, and Kalpi
Handmade Paper.
 Amroha Dholak is a musical instrument made of natural wood, preferred from mango, jackfruit, and
teakwood. It involves carving wooden blocks and fitting them with animal skin.
 Baghpat Home Furnishings are famous for exclusive handloom products and weaving on the frame
loom instead of the pit loom.
 Barabanki Handloom Product involves around 50,000 weavers and 20,000 looms, with an annual
turnover projected at ₹150 crore.
 Kalpi Handmade Paper has a rich history of handmade paper manufacturing and engages over 5,000
craftsmen and 200 units.
 Mahoba Gaura Patthar Hastashlip is a stone craft made from the unique Pyro Flight Stone found in the
region.
 Mainpuri Tarkashi is a brass wire inlay work on wood, primarily used for wooden sandals.
 Sambhal Horn Craft uses raw materials from dead animals and is entirely handmade.
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 Geographical Indication is a label indicating specific geographical origin and characteristic features of a product.
About Uttar Pradesh
 Capital: Lucknow Chief minister: Yogi Adityanath Governor: Anandiben Patel
UP launched 'Operation Conviction' for cow slaughter, child abuse cases
Monthly BeePedia
June 2023
 Uttar Pradesh Police Department has launched 'Operation Conviction' to combat criminals and mafias
in the state.
 The initiative aims to expedite the prosecution of cases under the POCSO Act, cow slaughter,
religious conversion, rape, and murder.
 Immediate arrest of criminals, collection of strong evidence, quality investigation, and effective
representation in courts are the key objectives of the operation.
 Each commissionerate/district is required to identify 20 cases in each category under 'Operation
Conviction' in addition to cases registered under the POCSO Act.
 Charges will be framed within three days of the chargesheet being filed, and the trial will be completed
within 30 days for prompt justice.
 Collaboration with the Forensic Science Laboratory (FSL) will expedite the acquisition of lab reports.
REPORTS AND INDEXES

India removed from UNSG report on impact of armed conflict on children
 UN Secretary-General Antonio Guterres removed India from his annual report on the impact of
armed conflict on children due to measures taken by the Indian government to protect children.
 Antonio Guterres highlighted the technical mission and workshop conducted by the UN's special
representative and the Indian government for child protection.
 India is urged to implement remaining measures such as training armed forces on child protection,
ending the use of force on children, and ensuring appropriate detention and treatment.
 The UN verified a total of 27,180 grave violations against children globally in 2022, with the highest
numbers of violations being killing, maiming, recruitment, use, and abduction of children.
 In India, concerns were expressed over the inclusion of non-conflict situations in the report, and
progress was acknowledged in child protection efforts in specific states.
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Founded: 24 October 1945 Headquarters: New York, United States Secretary general: António Guterres
QS World University Ranking 2024
 QS World University Ranking 2024 was released on June 27, 2023.

 Massachusetts Institute of Technology (MIT) retains the top position for the 12th consecutive
year.
 University of Cambridge holds the second spot, while University of Oxford replaces Stanford
University to reach the third spot.
 QS Ranking introduced new indicators: sustainability commitment, emphasis on graduate
employability, and increased international research collaboration.
 Top 10 global performers:
1. MIT, University of Cambridge
2. University of Oxford
3. Harvard University
Monthly BeePedia
June 2023
4. Stanford University
5. Imperial College London
 IIT Bombay ranks as the top Indian university at 149th position globally, improving from last year's
rank of 172.
 IIT Delhi ranks 197th globally, dropping from its previous rank of 174.
 Other top Indian institutes in the QS ranking include IIT Madras, IIT Kharagpur, IIT Kanpur, IIT
Guwahati, IIT Roorkee, Indian Institute of Science, University of Delhi, Anna University, IIT
Indore, University of Madras, and IIT BHU Varanasi.
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About Quacquarelli Symonds
 QS Quacquarelli Symonds is the world’s leading provider of services, analytics, and insight to the global
higher education sector, whose mission is to enable motivated people anywhere in the world to fulfil their
potential through educational achievement, international mobility, and career development.
 The QS World University Rankings portfolio, inaugurated in 2004, has grown to become the world’s most
popular source of comparative data about university performance.
India's first-ever report on Critical Minerals for India
 Union Minister of Mines, Pralhad Joshi, unveiled India's first-ever report on Critical Minerals.
 The report identifies 30 critical minerals essential for defense, agriculture, energy,
pharmaceuticals, and telecom sectors.
 The list supports India's pursuit of self-reliance and security in mineral resources.
 India has joined the Mineral Security Partnership during Prime Minister Narendra Modi's visit to the
United States.
 The report aims to guide policy formulation, strategic planning, and investment decisions in the
mining sector.
India ranked 67th globally on Energy Transition Index, Sweden on top: WEF
 According to the Energy Transition Index released by the World Economic Forum in collaboration
with Accenture, India was ranked at the 67th place globally on the Index and is the only major
economy with energy transition momentum accelerating across all dimensions.
 Sweden topped the list and was followed by Denmark, Norway, Finland and Switzerland in the top
five on the list of 120 countries.
 Besides India, Singapore is the only other major economy showing true momentum by advancing
sustainability, energy security and equity in a balanced way.
 France (7) was the only G20 country in the top 10, followed closely by Germany (11), the US (12),
and the UK (13).
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World Economic Forum Headquarters: Cologny, Switzerland Chairperson: Børge Brende
World’s Most (and Least) Liveable Cities in 2023
Monthly BeePedia
June 2023
 According to the Economist Intelligence Unit’s (EIU) Global Liveability Index for 2023, Delhi and
Mumbai may be the “most liveable” cities in India.
 According to the index by the EIU — a global media and information services company which also
publishes The Economist newspaper — both Delhi and Mumbai scored 60.2 on the index, sharing
the 141st rank.
 The index measures cities on five broad indicators — stability, culture and environment, healthcare,
education and infrastructure.
 According to the index, Vienna emerged the most liveable city, with a score of 98.4.
 Apart from Delhi and Mumbai, three other cities — Chennai, Ahmedabad, and Bengaluru — made it
to the list of a total 173.
Top 10 Bottom 10
1. Vienna, Austria 164 Douala, Cameroon
2. Copenhagen, Denmark 165 Kyiv, Ukraine
3. Melbourne, Australia 166 Harare, Zimbabwe
166 Dhaka, Bangladesh
4. Sydney, Australia
168 Port Moresby, Papua New Guinea
5. Vancouver, Canada 169 Karachi, Pakistan
6. Zurich, Switzerland 170 Lagos, Nigeria
7. Calgary, Canada 171 Algiers, Algeria
8. Geneva, Switzerland 172 Tripoli, Libya
9. Toronto, Canada 173 Damascus, Syria
10. Osaka, Japan
Bengaluru startup ecosystem at 20th place in GSER
 In Startup Genome’s The Global Startup Ecosystems Report (GSER) 2023, Bengaluru climbed 2
spots coming to 20th place confirming its position as the India’s leading startup hub.
 The top three ecosystems have maintained their positions from 2020, with Silicon Valley (a region in
Northern California ) remaining at the top, followed by New York City and London tied at the second
position.
 Chinese ecosystems have experienced a decline in rankings, with Shenzhen, Beijing, and Shanghai
dropping in the overall standings.
 Indian ecosystems, particularly Mumbai, Bengaluru-Karnataka, and Delhi, have shown positive
growth in the rankings.
 Mumbai move 5 places up while Bengaluru was ranked 20th in terms of Startups.
 The Global Startup Ecosystem Report 2023 is an extensive analysis stating the current state of
startup ecosystems around the world.
 Meanwhile, for generating 2023 rankings, Startup Genome evaluates six factors in each of the
ecosystems, which are performance, funding, market reach, connectedness, talent and
experience with knowledge.
Monthly BeePedia
June 2023
India to account for 12% of global m-cap by 2075; GDP to surpass US – Goldman Sachs
 According to the report titled, The Path to 2075-Capital Market Size and Opportunity by Goldman
Sachs, the growth in Emerging Markets (EM) will continue to outpace that in the developed market,
with 7 of the top 10 world economies becoming EMs by 2075.
 Goldman Sachs has predicted the Indian economy and market will be among the top globally by
2050 and even surpass the US by 2075.
 By 2075, China, the US, and India are likely to remain the three largest economies. EMs’ share of
global equity market capitalisation will rise from around 27 per cent currently to 35 per cent in 2030,
47 per cent in 2050, and 55 per cent in 2075.
 It expects India to record the largest increase in global market cap share – from a little under 3 per
cent in 2022 to 8 per cent in 2050, and 12 per cent in 2075.
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Goldman Sachs Headquarters: New York, United States CEO: David M. Solomon
India climbed eight places to 127 in global gender index
 According to the annual Gender Gap Report, 2023 of the World Economic Forum (WEF), India was
ranked at 127 out of 146 countries in terms of gender parity — an improvement of eight places from
last year.
 India was ranked 135 in the report’s 2022 edition. The country had improved by 1.4 percentage points
and eight positions since the last edition, marking a partial recovery towards its 2020 parity level, the
report stated.
 The country had attained parity in enrolment across all levels of education.
 The index ranked India’s neighbours Pakistan at 142, Bangladesh at 59, China at 107, Nepal at 116,
Sri Lanka at 115 and Bhutan at 103.
 Iceland is the most gender-equal country in the world for the 14th consecutive year and the only one to
have closed more than 90% of its gender gap, according to the report.
 For India, the 1.9 percentage point improvement in sex ratio at birth had driven up parity after more
than a decade of slow progress, the report said.
 Overall, the Southern Asian region has achieved 63.4% gender parity, the second-lowest of the eight
regions.
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About WEF
 The World Economic Forum is an international non-governmental and lobbying organisation for multinational
companies based in Cologny, Canton of Geneva, Switzerland.
 Founded: January 1971 Headquarters: Cologny, Switzerland Chairperson: Børge Brende
Singapore falls one spot to 4th in 2023 global competitiveness index, India ranks 40th
Monthly BeePedia
June 2023
 Singapore has slipped a place in the latest global competitiveness index rankings published by the
International Institute for Management Development (IMD).
 The report uses a combination of surveys, statistical data, and trends to compare the competitiveness of
64 countries around the world. It analyzes and ranks countries according to how they manage their
competencies to achieve long-term value creation.
 Denmark, Ireland, and Switzerland took the top three spots. The rest of the top 10 is made up of the
fifth Netherlands, followed by Taiwan, Hong Kong, Sweden, the USA, and the United Arab Emirates.
 India dropped 3 spots to finish 40th but is still in a better position than it was in 2019-2021 when it was
ranked 43rd for three consecutive years.
 Based on the IMD report, the country improved in government efficiency but fared slightly worse than
other countries in business efficiency, infrastructure, and economic performance.
Dr. Mansukh Mandaviya unveiled 5th State Food Safety Index on World Food Safety Day
 The Food Safety and Standards Authority of India (FSSAI) reaffirmed its dedication to food
safety and innovation by organizing an interactive session on June 7th, 2023 at Vigyan
Bhavan, in honor of World Food Safety Day.
 At the event, Dr. Mansukh Mandaviya unveiled the 5th State Food Safety Index (SFSI), which
evaluates the performance of states and union territories across six different aspects of food
safety.
 Launched in 2018-19, the SFSI aims to foster healthy competition and catalyze positive
change in the food safety ecosystem throughout the country, ultimately ensuring the
provision of safe and wholesome food to all residents.
 Among the larger states, Kerala secured the top ranking, followed by Punjab and Tamil
Nadu.
 Among the smaller states, Goa emerged as the leader, followed Manipur and Sikkim .
 Jammu and Kashmir, Delhi and Chandigarh secured the first, second, and third ranks
respectively among the union territories.
New York tops the world's 20 most expensive cities for expats in 2023
 According to ECA International’s Cost of Living Rankings for 2023 New York has leapfrogged Hong
Kong as the world’s most expensive city to live in as an expat, while skyrocketing rents saw
Singapore crash into the top five.
 Soaring inflation and rising accommodation costs were cited as reasons for New York topping ECA
International’s Cost of Living Rankings for 2023, while Geneva and London remained in third and
fourth places.
 The biggest riser of the year was Istanbul, which climbed 95 spots to 108th place, on the back of
an 80% surge in prices driven by President Recep Tayyip Erdogan’s economic policies.
 The survey also found:
 These are the world’s top 20 most expensive places for expats to live (with the 2022 rankings in
parentheses):
Monthly BeePedia
June 2023
1. New York, US 11. Bern, Switzerland

2. Hong Kong, China 12. Dubai, UAE
3. Geneva, Switzerland 13. Shanghai, China
4. London, UK 14. Guangzhou, China
5. Singapore 15. Los Angeles, US
6. Zurich, Switzerland 16. Shenzhen, China
7. San Francisco, US 17. Beijing, China
8. Tel Aviv, Israel 18. Copenhagen, Denmark
9. Seoul, South Korea 19. Abu Dhabi, UAE
10. Tokyo, Japan 20. Chicago, US
Health ministry unveils food safety index, Kerala secures top ranking
 According to the fifth State Food Safety Index released by the Ministry of Health and Family
Welfare, Kerala has topped the food safety index.
 As per the index, among the larger states, Kerala secured the top ranking, followed by Punjab and
Tamil Nadu Among the smaller states, Goa emerged as the leader, followed Manipur and Sikkim
Additionally, Jammu and Kashmir, Delhi and Chandigarh secured the first, second, and third ranks
respectively among the union territories.
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Ministry of Health and Family Welfare Union Minister: Mansukh L. Mandaviya
Tata Group is India's most valuable brand, Infosys and LIC follow-Brand Finance
 According to Brand Finance India 100 2023, at $26.38 billion, the Tata Group retained its position
as the most valued brand in India.
 Infosys retained the second spot in the rankings with a brand value of $13 billion. It was followed by
the Life Insurance Corporation of India (LIC) with a value of $9.7 billion.
 With a brand value of $7.5 billion, Airtel stood ahead of the Jio Group in the rankings. Jio Group
stood in the 11th spot while its parent Reliance Group stood in the fifth spot with a brand value of
$7.35 billion.
 Among the banks, the State Bank of India (SBI) had the highest brand value of $7.33 billion. It was
followed by HDFC Bank and ICICI Bank.
 Moreover, Raymond emerged as the most valuable clothing brand in India with an 83.2 per cent
rise in brand value to $273 million.
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Brand Finance Headquarters: London CEO: David Haigh
Unprecented achievement IRENA reported praises India’s renewable energy growth
Monthly BeePedia
June 2023
 A recent report titled ‘Low-cost finance for energy transition’ produced by the International
Renewable Energy Agency (IRENA), has praised India’s achievement in rolling out renewable energy
capacity, calling it “unprecedented”.
 The country’s renewable energy sector has seen unprecedented growth driven by national
targets of 175 GW of renewable energy capacity by 2022 and 500 GW of non-fossil fuel capacity by
2030 noting that India ranked third on the Renewable Energy Attractive Index in 2021.
 The country’s capacities are some of the fastest growing among the top five countries promoting
and advancing renewable energy.
 The comprehensive policy framework designed by the Indian government has ensured that the
national targets are well supported.
 The report makes a special mention of India setting up the government-owned, non-banking finance
company, Indian Renewable Energy Development Agency (IREDA), in 1987.
 IREDA has been serving India’s renewable energy sector and the government’s ambitions for
the past 35 years.
 According to the IRENA report, IREDA has also become “the preferred agency through which DFIs
across the world contribute to green project financing in India.”
Reliance, Jio among top 5 best Indian brands 2023 ranking
 According to Interbrand, renowned global brand consultancy Tata Consultancy Services (TCS) and
Reliance Industries have topped the list of most valuable brands in the country.
 According to a report, two brands owned by billionaire Mukesh Ambani – Reliance Industries and
digital unit Jio made it to the list of top five most-valuable brands in India.
 The diversified Reliance Industries with a brand value of ₹65,320 crore became the second most-
valuable brand, while telecom and digital unit Jio with a brand value of ₹49,027 crore became the
fifth most-valuable company in the country.
 The brand value of Reliance Industries grew at 121% in the last ten years.
 Tata Consultancy Services (TCS) retained the top spot as the most valuable brand in the country,
with a value of about ₹1.1 lakh crore.
 IT company Infosys with a brand value of ₹53,323 crore and HDFC with ₹50,291 crore occupied
the third and fourth positions respectively on the list.
 This year's edition showcases remarkable growth, with a total list value of ₹8.3 lakh crore (USD 100
billion), marking a significant 167 per cent increase over the past decade. This is the first time the total
value of the table has surpassed the USD 100 billion mark.
Hunger Hotspots:FAO-WFP early warnings on acute food insecurity, June 2023 to November 2023
outlook
 The Food and Agriculture Organization of the United Nations (FAO) and the United Nations World
Food Programme (WFP) warn that acute food insecurity is likely to deteriorate further in 18
hunger hotspots during the outlook period from June to November 2023.
Monthly BeePedia
June 2023
 For the outlook period, FAO and WFP are issuing an early warning for urgent humanitarian action
in 18 hunger hotspots, including 2 regional clusters and comprising a total of 22 countries.
 In the hunger hotspots, parts of the population will likely face a significant deterioration of already high
levels of acute food insecurity, putting lives and livelihoods at risk.
 Targeted humanitarian action is urgently needed to save lives and livelihoods in all 18 hunger
hotspots.
 In eight of these – Afghanistan, Haiti, Nigeria, the Sahel region (Burkina Faso and Mali), Somalia,
South Sudan, the Sudan and Yemen – humanitarian action is critical to prevent starvation and death.
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About FAO
 The Food and Agriculture Organization of the United Nations is a specialized agency of the United Nations that
leads international efforts to defeat hunger and improve nutrition and food security.
 Founded: 16 October 1945 Headquarters: Rome, Italy
Global unemployment to fall 5.3%; low-income nations lag in recovery: ILO
 According to the International Labour Organisation (ILO) ,global unemployment is likely to fall below
the pre-pandemic levels to 5.3 per cent or 191 million in 2023.
 The organisation further projected that low-income countries in the Arab and African region will not
be able to recover to the pre-Covid levels of unemployment in 2023.
 For North Africa, the unemployment rate in 2023 is projected to be 11.2 per cent compared to 10.9
per cent in 2019, for Sub-Saharan Africa it is projected at 6.3 per cent as against 5.7 per cent in 2019
and 9.3 per cent for the Arab states as against 8.7 per cent in 2019).
 Latin America and the Caribbean are among the regions that have managed to reduce their
unemployment rates substantially below to pre-Covid levels (6.7 per cent as compared to 8 per cent
in 2019).
 Some of the other regions that have significantly reduced their rate are northern, southern, and
western Europe with an unemployment rate of 6.3 per cent vis-a-vis 7 per cent in 2019, and central
and Western Asia with 7.8 per cent as against 9.2 per cent in 2019.
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International Labour Organization Headquarters: Geneva, Switzerland Director-general: Gilbert Houngbo
The Global Slavery Index 2023
 Walk Free’s flagship report, the Global Slavery Index (GSI) provides national estimates of modern
slavery for 160 countries.
 Its estimates draw on thousands of interviews with survivors collected through nationally
representative household surveys across 75 countries and our assessment of national-level
vulnerability.
 With the exception of contributions from external authors, the Global Slavery Index is produced by
Walk Free.
 The Index provides rankings across 3 dimensions: Size of the problem (prevalence), Government
response and Vulnerability (political instability, inequality).
Monthly BeePedia
June 2023
 The 2023 index is significant as India holds the G20 presidency this year, with a focus on sustainable
development and climate change mitigation.
TCS, Reliance, Jio top best Indian brands 2023 ranking –Interbrand
 According to Interbrand, the renowned global brand consultancy, technology giant TCS and India’s
most valuable company Reliance Industries have topped the list of the country’s most valuable
brands.
 IT company Infosys is at No.3 with a brand value of Rs 53,323 crore. HDFC is at No.4 and Jio at No.5.
 Other brands in the top 10 include Airtel, Life Insurance Corporation (LIC), Mahindra, State Bank
of India and ICICI.
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Interbrand Headquarters: New York, United States CEO: Gonzalo Brujó
Education Ministry announced NIRF ranking for 2023
 The Ministry of Education announced the National Institutional Ranking Framework (NIRF) ranking
for the year 2023.
Best Universities Under Overall Category Top 3 Universities

The Indian Institute of Technology (IIT) Madras IISc, Bangalore
Indian Institute of Science (IISc), Bangalore JNU
IIT-Delhi Jamia Millia
 All India Institute of Medical Science, AIIMS New Delhi was awarded the 5th position and Jawaharlal
Nehru University (JNU), New Delhi got the 10th position in the overall category.
Monthly BeePedia
June 2023
 In the category of top ten Universities in the country Banaras Hindu University 5th position and
Aligarh Muslim University bagged 9th position in this category.
 The University of Hyderabad is also in 10th position in the same category.
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About NIRF
 National Institutional Ranking Framework is a ranking methodology adopted by the Ministry of Education,
Government of India, to rank institutions of higher education in India.
 The framework was approved by the erstwhile Ministry of Human Resource Development and launched by the
Minister on 29 September 2015.
NHAI releases first sustainability report on environmental responsibility
 The National Highways Authority of India (NHAI) has published its inaugural 'Sustainability Report
for FY 2021–22.
 The report, encompasses NHAI's governance structure, stakeholder engagement, and initiatives
related to the environment and social responsibility.
 From FY 2019-20 to FY 2021-22, direct emissions decreased by 18.44 per cent and 9.49 per cent
due to reduced fuel consumption.
 The report highlights a decline in greenhouse gas (GHG) emissions from energy consumption,
operations, transport, and travel. In FY 2020-21, there was a reduction of 9.7 per cent, followed by an
additional two per cent decline in FY 2021-22.
 NHAI has also achieved a substantial decrease in energy intensity, with a reduction of 37 per cent
in FY 2020-21 and 27 per cent in FY 2021-22, while increasing the kilometers constructed during the
reporting period.
 The organization has seen a significant increase in the number of saplings planted from 2016-17 to
2021-22, with approximately 27.4 million saplings planted to offset vehicle emissions.
 Through a performance-based management system, NHAI has successfully promoted gender
diversity and minority employees, resulting in a 7.4 per cent increase in female hiring and an
overall three per cent increase in the workforce over three financial years.
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NHAI Headquarters: New Delhi Chairman: Santosh Kumar Yadav
Telangana topped in environmental performance in CSE's annual ranking
 On the eve of World Environment Day, non-profit Centre for Science and Environment (CSE)
released its annual compendium of data in which Telangana was ranked in the top in terms of
overall environmental performance.
 Delhi-based CSE, a prominent public interest research and advocacy organisation, released its
annual compendium of data 'State of India's Environment 2023: In Figures'.
 The report offers a wealth of statistics on the state of climate and extreme weather, health, food
and nutrition, migration and displacement, agriculture, energy, waste, water and biodiversity.
 The progress achieved in increasing forest cover and in municipal waste treatment were
considered for the ranking.
Monthly BeePedia
June 2023
 About 273 crore saplings were planted in the last nine years across Telangana leading to an
increase in the forest cover in the state from 19,854 square kilometres in 2015-16 to 26,969 square
kilometres in 2023.
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About Telangana
Capital: Hyderabad Chief minister: K. Chandrashekar Rao Governor: Tamilisai Soundararajan
NHAI released first sustainability report on environmental responsibility
 The National Highways Authority of India (NHAI) has published its inaugural 'Sustainability Report
for FY 2021–22,' showcasing its dedication to environmental sustainability and social
responsibility.
 The report, unveiled by Union Minister for Road Transport and Highways Nitin Gadkari,
encompasses NHAI's governance structure, stakeholder engagement, and initiatives related to
the environment and social responsibility.
 From FY 2019-20 to FY 2021-22, direct emissions decreased by 18.44 per cent and 9.49 per cent
due to reduced fuel consumption.
 The organisation continues to focus on reducing indirect emissions by transitioning to cleaner and
greener energy sources.
 The report highlights a decline in greenhouse gas (GHG) emissions from energy consumption,
operations, transport, and travel.
 In FY 2020-21, there was a reduction of 9.7 per cent, followed by an additional two per cent decline in
FY 2021-22.
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About NHAI
Founded: 1988 Headquarters: New Delhi Chairman: Sh. Santosh Kumar Yadav
Unemployment rate falls to 7.7 pc in May on decline in labour participation: CMIE
 According to the CMIE (Centre for Monitoring Indian Economy) data, the unemployment rate in India
fell to 7.7 per cent in May due to a decline in the labour participation at 441.9 million.
 Unemployment rate in India among people aged 15 years and above fell to 7.7 per cent in May
2023, from 8.5 per cent in the previous month.
 Compared to April, labour participation rate (LPR) fell by 1.1 percentage point to 39.6 per cent in May
 The 4.5 million fewer people in the urban labour force in May was the result of a combination of a
decline in jobs by around 2.4 million and a fall in the number of unemployed in urban India by 2.1 million.
 The rural labour force reduced to 299.4 million in May from 306.5 million in the previous month.
Learn Along:
The Centre for Monitoring Indian Economy is an independent private limited entity that serves both as an economic
think-tank as well as a business information company. CMIE research group has built databases on the Indian
economy and private companies.
Monthly BeePedia
June 2023
India’s Internet Economy To Hit $1 Trillion Mark By 2030 With GDP Contribution Of Around 12%:
Google Joint Report
 The "e-Conomy India 2023" report, a collaboration between Google, Temasek, and Bain & Company,
underscores the shifting consumer behavior and evolving business landscape driving this
momentous growth.
 According to the report, India's rapidly expanding internet economy is anticipated to reach a staggering
valuation of $1 trillion by 2030, a significant surge from the estimated $175 billion in 2022. As a result,
the contribution of the Internet economy to India’s GDP will increase from 4 to 5 per cent, as of now,
to around 12 to 15 per cent.
 Among the ten key consumer sectors, Business-to-Consumer (B2C) e-commerce is expected to
maintain its leading position in digital services, projected to grow five to six times and reach
approximately $350-380 billion by 2030.
 The report also forecasts a doubling of online shoppers in India by 2030, with over 60 per cent of new
shoppers emerging from smaller towns.
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Google Headquarters: California, United States CEO: Sundar Pichai
Bain & Company Headquarters: Boston, Massachusetts CEO: Manny Maceda
India logged 31 million new diabetes patients in 2019-21
 According to a paper touted as “one of the first comprehensive studies covering all States of India” to
assess the non-communicable diseases (NCD) burden in the country, Thirty-one million Indians became
diabetic between 2019-2021.
 The highest prevalence of diabetes was found in Goa (26.4%), Puducherry and Kerala (nearly 25%).
 According to the World Health Organisation, diabetes is a major cause of blindness, kidney failure,
heart attacks, stroke, and lower-limb amputation.
 The findings of the study, conducted by the Madras Diabetes Research Foundation in collaboration with
the Indian Council of Medical Research (ICMR) and the Union Health Ministry, were published in the
journal, The Lancet Diabetes & Endocrinology.
 The study, titled ‘Metabolic non-communicable disease health report of India: the ICMR-INDIAB
national cross-sectional study (ICMR-INDIAB-17)’, found that prevalence of generalised obesity and
abdominal obesity in India stood at 28.6 and 39.5%, respectively and it showed that 24% of Indians suffer
from hypercholesterolemia — a condition in which fat collects in arteries and puts individuals at a greater
risk of heart attack and strokes — while 15.3% of people have pre-diabetes.
China could potentially have as many ICBMs as U.S. or Russia by turn of decade: SIPRI
 According to estimations by Stockholm International Peace Research Institute (SIPRI), the size of
China’s nuclear arsenal increased from 350 warheads in January 2022 to 410 in January 2023,
and it is expected to keep growing.
Monthly BeePedia
June 2023
 The key finding in SIPRI Yearbook 2023 is that the number of operational nuclear weapons started
to rise as countries’ long-term force modernisation and expansion plans progressed.
 India and Pakistan appear to be expanding their nuclear arsenal. Both countries introduced and
continued to develop new types of nuclear delivery system in 2022.
 According to SIPRI estimates, the nuclear arsenals of India grew from 160 in 2022 to 164 in 2023
and that of Pakistan from 165 to 170.
 The nine nuclear-armed states —the United States, Russia, the United Kingdom, France, China,
India, Pakistan, the Democratic People’s Republic of Korea (North Korea) and Israel—continue to
modernise their nuclear arsenals and several deployed new nuclear-armed or nuclear-capable weapon
systems in 2022.
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About SIPRI
 Stockholm International Peace Research Institute is an international institute based in Stockholm.
 It provides data, analysis and recommendations for armed conflict, military expenditure and arms trade as
well as disarmament and arms control.
 Founded: 6 May 1966 Headquarters: Solna Chair of the Governing Board: Stefan Löfven
s
Reliance Industries climbs 8 spots to 45th rank on Forbes’ Global 2000 list
 Billionaire Mukesh Ambani‘s Reliance Industries Ltd climbed eight spots to the 45th rank, the
highest for an Indian company on Forbes’ latest Global 2000 list of public companies worldwide.
 JPMorgan, with USD 3.7 trillion in assets, is at the top of the list for the first time since 2011. Warren
Buffett’s Berkshire Hathaway that topped the list last year, fell to the 338th position in the latest list.
 Saudi oil behemoth Aramco is at 2nd position followed by three giant-sized state-owned Chinese
banks. Technology giants Alphabet and Apple are at 7th and 10th place, respectively.
 Reliance was ranked ahead of well-known names like Germany’s BMW Group, Switzerland’s Nestle,
China’s Alibaba Group, US-based Procter & Gamble and Japan’s Sony. State Bank of India
climbed to 77th spot from 105th in the 2022 ranking. HDFC Bank is at 128th position (153 in 2022)
and ICICI Bank is at 163 (204 in 2022).
 Other Indian firms on the list include state-owned Oil and Natural Gas Corporation at 226 and HDFC
(232). Life Insurance Corporation (LIC) made its maiden entry at 363 while Tata Consultancy
Services (TCS) slipped to 387th rank from 384 last year.
 Axis Bank (423), NTPC (433), Larsen & Toubro (449), Bharti Airtel (478), Kotak Mahindra Bank (502),
Indian Oil Corporation (540), Infosys (554), Bank of Baroda (586), Coal India (591), Tata Steel (592),
Hindalco (660) and Vedanta (687) are other notable Indian firms on the list.In all, 55 Indian firms figured
on the list.
India tops digital payments rankings globally, shows MyGovIndia data
 According to the data from govt's citizen engagement platform MyGovIndia,India has topped the
global rankings in digital payments for the year 2022.
Monthly BeePedia
June 2023
 During the year under review, there were 89.5 million digital transactions in the country. India
accounted for 46 per cent of the global real-time payments in 2022, which was more than the
combined digital payments the next four top countries.
 Brazil took the second place, with the country clocking 29.2 million digital transactions. China
followed at third spot with 17.6 million transactions.
 Thailand was number four with 16.5 million transactions. South Korea followed with 8 million
transactions.
NTPC climbed up 52 positions to 433rd rank in Forbes’ “The Global 2000” List of top companies
 NTPC Limited, India's largest power generation company, has climbed 52 positions to secure the
433rd rank in Forbes' “The Global 2000” List for 2023.
 Rising from 485th rank in the list in the year 2022, the climb of 52 positions in just one year
demonstrates NTPC's emergence as a strong force in the global market.
 It is evidence of the company's steady expansion, sound financial condition, and persistent
dedication to excellence.
 “The Global 2000” List recognizes the world's largest companies based on four key metrics: sales,
profits, assets and market value.
 Considering Indian companies, NTPC has climbed up one place to secure the 10th rank among the
largest Indian companies in the 2023 List.
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About NTPC
NTPC Limited, formerly known as National Thermal Power Corporation, is an Indian central Public Sector
Undertaking under the ownership of the Ministry of Power, Government of India which is engaged in generation of
electricity and allied activities. The headquarters of the PSU are situated at New Delhi.
Founded: 7 November 1975 Headquarters: New Delhi, India
Chairman & Managing Director: Shri Gurdeep Singh
India to overtake China in oil demand growth by 2027: IEA report
 According to the report ‘Oil 2023’ by the International Energy Agency, the growth in demand for oil
in India will overtake that in China by 2027.
 As per the data shown by the report, China’s demand will fall consistently from 2024 after a massive
rise this year. The United States, China, and India are the world’s three largest oil consumers in
that order.
 IEA raised its forecast for world oil growth demand to 2.4 million barrels per day in 2023. India’s oil
demand is expected to grow by 1 million barrels per day (b/d) by 2028 while growth in Chinese oil
demand to shrink from 2024 onwards.
 Meanwhile global oil demand at 102 million b/d in 2023 & overall global oil demand growth to peak
in 2028 at 105 million b/d.
Learn Along:
International Energy Agency Headquarters: Paris, France Executive director: Fatih Birol
Monthly BeePedia
June 2023
CBIC released National Time Release Study (NTRS) 2023 report
 Shri Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs (CBIC) along with other
Members of the Board released the National Time Release Study (NTRS) 2023 report.
 Time Release Study (TRS) as a performance measurement tool aims to present quantitative
measure of the cargo release time, defined as the time taken from arrival of the cargo at the
Customs station to its out of charge for domestic clearance in case of imports and arrival of the
cargo at the Customs station to the eventual departure of the carrier in case of exports.
 NTRS 2023 presents port-category wise average release time for the current year, based on the
sample period of January 1-7, 2023 (both days included), comparing the same to the performance during
the corresponding periods of 2021 and 2022 to, inter alia,
 assess the progress made towards the National Trade Facilitation Action Plan targets;
 identify the impact of various trade facilitative initiatives, notably “Path to Promptness”; and
 identify the challenges to more expeditious reduction in release time.
 The ports included in the study represent seaports, air cargo complexes (ACCs), inland container
depot (ICDs) and integrated check posts (ICPs) which account for approximately 80 percent of bills
of entry and 70 percent of shipping bills filed in the country.
Hilton India ranked top company to work for - Trust Index Survey
 The ‘Trust Index Survey‘ conducted by Great Place to Work assessed employees’ perceptions of
leadership, organisational culture and trust, which played a crucial role in selecting the best
workplaces in the country.
 Hilton India has been recognised as the country’s top company to work for by Great Place to
Work, a global research and consulting firm.
 Hilton received high scores in areas such as team members’ recognition of diversity and equity in
the workplace, trust in the leadership team, and pride in the company’s values and vision.
PE/VCs investment in India falls 44% to $3.5 billion – IVCA-EY
 According to the report by industry lobby IVCA and consultancy firm EY, private equity and
venture capital funds' investment in the country continued to fall in May, with the overall values
declining by nearly 44 per cent to USD 3.5 billion.
 The dedicated funds had invested USD 6.2 billion in May 2022 and USD 7.4 billion in the preceding
month of April 2023, representing a dip of 44 per cent and 52 per cent.
 Only healthcare and financial services have witnessed some investments adding that the medium-
to long-term outlook remains positive and the overall deployments in 2023 will surpass the previous
year's number.
 Real estate was the favourite sector for the funds in May 2023, recording USD 1.2 billion in PE/VC
investments across seven deals against 12 deals worth USD 1.1 billion in May 2022. The technology
Monthly BeePedia
June 2023
sector was the second largest sector, with USD 864 million invested across 15 deals, a 159 per
cent rise over May 2022.
Learn Along:
Ernst & Young Headquarters: London CEO: Carmine Di Sibio
Private equity is when a group of investors makes a direct investment in a company. Private equity investors typically
focus on mature companies that are past the growth stage. They will often provide funds to a business that’s in
distress.They will also sometimes buy out a business, improve its operations and then sell it for a profit.
Venture capital (VC) is a form of private equity. The main difference is that while private equity investors prefer stable
companies, VC investors usually come in during the startup phase.Venture capital is usually given to small companies
with incredible growth potential. This type of investment is not easily obtained and tends to be riskier, but VC investors
get involved because of the potential for very high returns.
Mumbai 18th most expensive city for luxury living: Julius Baer Index
 According to Julius Baer’s Lifestyle Index 2023 which ranks the world’s 25 most expensive cities,
Mumbai becomes the 18th most expensive city for luxury living.
 The lifestyle index is prepared by analysing residential properties, cars, business class flights, business
school, degustation dinners, and other luxuries.
 According to the Index, Asia has the maximum number of costly cities for luxury living. The continent
has retained the position for the fourth year in a row.
 Singapore has emerged as the costliest city to live in across the world. In the last survey,
Singapore was at the fourth spot behind Shanghai, Hong Kong, and Taipei.
 Mumbai rose from the 24th spot last year to the 18th this year.
 In particular, hotel suites (39.1 per cent), business class flights (32.9 per cent), and cars ( 25.2 per
cent) have seen the highest average rises of all regions.
110 Million People Displaced Around the World
 According to a UNHCR report released, A record 110 million people have been displaced around
the world as the conflict in Sudan contributed to a crisis already underway due to the war in Ukraine,.
 The report indicated that global forced displacement continues to rise unabated in 2023, marking
a significant increase of 19.1 million compared to the previous year, driven by conflicts and climate-
related upheaval.
 The UN refugee agency report also said poorer countries, rather than wealthy nations,
disproportionately bore the responsibility of hosting displaced individuals.
 The report also highlighted that almost 4.4 million people worldwide were stateless or of
undetermined nationality by the end of 2022 — a 2% increase compared to the previous year.
 According to the UN refugee agency’s Global Trends in Forced Displacement 2022 report, 35.3
million displaced individuals were categorized as refugees, having crossed international borders in
search of safety. A larger portion — 58% and representing 62.5 million people — faced displacement
within their own countries.
Monthly BeePedia
June 2023
 In 2022, the war in Ukraine was the primary cause of displacement as the number of refugees
skyrocketed from 27,300 at the end of 2021 to 5.7 million by the end of the year. This was the largest
refugee outflow since World War II.
Learn Along:
About United Nations High Commissioner for Refugees
 The United Nations High Commissioner for Refugees is a United Nations agency mandated to aid and protect
refugees, forcibly displaced communities, and stateless people, and to assist in their voluntary repatriation,
local integration or resettlement to a third country.
 Founded: 14 December 1950 Headquarters: Geneva, Switzerland President: Filippo Grandi
Tata Power, Amazon India's most attractive employers in 2023: Randstad
 According to Randstad Employer Brand Research 2023, Tata Power Company emerged as the
most attractive employer brand in India in 2023, followed by Amazon and Tata Steel. Big Basket
topped the list of most attractive startup employers in the country.
 Tata Motors was the most attractive brand for employees in the auto sector. It was followed by
Mercedes-Benz and Maruti Suzuki.
 In terms of sectors, the automotive sector has claimed the top spot as most attractive in 2023, with
77 per cent attractiveness. IT, ITeS and telecom follow it at 76 per cent and FMCG, retail and e-
commerce at 75 per cent.
 The other companies that featured in the top ten rankings were Tata Consultancy Services,
Microsoft, Samsung India, Infosys, Tata Motors, IBM and Reliance Industries. Interestingly, four
out of the top 10 were the companies of the Tata Group.
Learn Along:
Randstad NV Headquarters: Amsterdam, Netherlands CEO: Sander van't Noordende
SCIENCE AND TECHNOLOGY

CSIR-CCMB joined global research group involved in development of algorithm along lines of
ChatGPT for genetics
 The Hyderabad-based CSIR - Centre for Cellular and Molecular Biology (CCMB) has joined a global
research group involved in the development of an algorithm along the lines of ChatGPT for genetics.
 The algorithm uses genome sequencing data instead of human language to predict disease-causing
genetic mutations in patients.
 The research group, comprising the Institute of Evolutionary Biology, Pompeu Fabra University,
Illumina, Baylor College of Medicine, CCMB and others, has generated a huge catalogue of genomic
information for primates that have been ever produced.
 These studies have helped Illumina, a noted DNA sequencing company, create an AI algorithm with
clinical applications to identify new insights into genetic causes of human disease using primate genomic
data.
AIIMS Nagpur Became First To Receive NABH Accreditation
Monthly BeePedia
June 2023
 All India Institute of Medical Sciences (AIIMS) Nagpur has become the first of all AIIMS to receive
National Accreditation Board for Hospitals (NABH) accreditation.
 This is at par with the world's leading hospital accreditation standards.
 AIIMS Nagpur was able to achieve this accreditation by demonstrating its commitment to excellence
in all of these areas.
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About NABH
 National Accreditation Board for Hospitals & Healthcare Providers (NABH) is a constituent board of Quality
Council of India, set up to establish and operate accreditation programme for healthcare organisations.
 The board is structured to cater to much desired needs of the consumers and to set benchmarks for progress of
health industry.
 The board while being supported by all stakeholders including industry, consumers, government, have full
functional autonomy in its operation.
North Korea’s first spy satellite launch ends in failure and promise to send up another
 North Korea’s first spy satellite launch has ended in failure after its second stage malfunctioned,
sending the projectile plunging into the sea, with the regime vowing to conduct another launch soon.
 The new Chollima-1 satellite launch rocket failed due to instability in the engine and fuel system.
 The launch was the nuclear-armed state’s sixth satellite launch attempt, and the first since 2016. It
was supposed to launch North Korea’s first spy satellite into orbit.
Learn Along:
About North Korea
Capital: Pyongyang Currency: Korean People's won
India conducted Asia's 1st performance-based helicopter navigation
 India conducted Asia's first demonstration of performance-based navigation for helicopters for a
flight from Juhu to Pune using GAGAN satellite technology.
 It is a fine example of the "Indian aviation sector blazing a trail in innovation!".
 GAGAN refers to GPS Aided GEO Augmented Navigation.
 It is a space-based augmentation system for providing the best possible navigational services over
the Indian FIR (Flight Information Region) with the capability of expanding to neighbouring FIRs.
 It was jointly developed by the Indian Space Research Organisation (ISRO) and the Airports Authority
of India (AAI).
Learn Along:
About ISRO
Founded: 15 August 1969 Headquarters: Bengaluru Chairman : S.Somnath
PM Modi Launched Two Schemes for Wetland and Mangrove Conservation on World Environment
Day
 On the occasion of World Environment Day, Prime Minister Narendra Modi launched two schemes--
Amrit Dharohar and MISHTI (Mangrove Initiative for Shoreline Habitats and Tangible Incomes)--aimed
at reviving the country's wetlands and mangroves.
Monthly BeePedia
June 2023
 India currently has 75 Ramsar sites that are wetlands of international importance and have been
designated under the criteria of the Ramsar Convention on Wetlands.
 The country also accounts for about 3% of South Asia’s mangrove population.
 Apart from the Sundarbans in West Bengal, the Andamans region, the Kachchh and Jamnagar areas in
Gujarat have substantial mangrove cover.
 The launch of Amrit Dharohar Yojana will ensure the conservation of the existing Ramsar sites
through public participation, and these sites will become the centre of eco-tourism and a source of green
jobs for thousands of people, the prime minister said.
 The MISHTI scheme will help revive and protect the mangrove ecosystem in the country. With this,
the mangrove cover will be restored in nine states across the country and help in mitigating the threat to
lives and livelihoods in coastal areas from rising sea levels and disasters like cyclones.
Microsoft and AirJaldi Networks strengthen collaboration to provide internet access for underserved
communities in 12 states
 Microsoft and AirJaldi, a leading innovator and implementer of technically and economically viable
internet connectivity solutions for rural areas, signed a three-year Memorandum of Understanding
(MoU).
 Titled ‘Contentful Connectivity’, the program aims to advance access to high-speed internet and
meaningful connectivity as a fundamental right in collaboration with private, public, non-profit sectors and
build solutions for broadband adoption and digital transformation, benefitting underserved communities in
rural regions of India.
Over the next three years, the program will:
 Expand AirJaldi Networks into three new states namely, Telangana, Chhattisgarh, and Odisha, with
an increase in the number of network locations from 40 to 62 in 12 states.
 An addition of 1,500 km of fiber network will help reach out to 20,000 km2 and thereby provide
access to the internet to nearly 500,000 underserved beneficiaries
Learn Along:
About AirJaldi Networks:
 AirJaldi is the brand name used by Rural Broadband Private Limited, a Class A Internet Service Provider in
India since 2009.
 AirJaldi’s mission is to create sustainable broadband internet networks and related offerings.
 AirJaldi is a leading innovator and implementer of technically and economically viable internet connectivity solutions
for rural areas. Know more at https://airjaldi.com/
About Microsoft India:
 Microsoft enables digital transformation for the era of an intelligent cloud and an intelligent edge.
 Its mission is to empower every person and every organization on the planet to achieve more.
 Microsoft set up its India operations in 1990.
China now has the world’s most powerful hypersonic wind tunnel
 After five years of construction, the most powerful wind tunnel on the planet has roared to life in
China’s capital – a facility that will be key to advancing Beijing’s hypersonic ambitions.
 Located in the mountainous Huairou district of northern Beijing, the JF-22 wind tunnel is 4 metres (13
feet) in diameter and can generate air flow speeds up to 10km (6.2 miles) per second.
Monthly BeePedia
June 2023
 That makes it the largest and fastest wind tunnel in the world, capable of simulating hypersonic flight
conditions up to Mach 30.
 The tunnel will “support the research and development of China’s space transport system and
hypersonic aircraft.
 The JF-22 is integral to goals set out by the Chinese government to be achieved by 2035.
Learn Along:
About China
Capital: Beijing Currency: Renminbi
Meta released ‘human-like’ AI image creation model
 Meta Platforms would provide researchers with access to components of a new “human-like” artificial
intelligence model that can analyze and complete unfinished images more accurately than existing
models.
 The model, I-JEPA, uses background knowledge about the world to fill in missing pieces of images,
rather than looking only at nearby pixels like other generative AI models.
 That approach incorporates the kind of human-like reasoning advocated by Meta’s top AI scientist
Yann LeCun and helps the technology to avoid errors that are common to AI-generated images, like
hands with extra fingers.
Learn Along:
About Meta
Founded: February 2004 Headquarters: California, United States CEO: Mark Zuckerberg
Country's first Dimethyl Ether fuelled tractor
 India’s first 100% Dimethyl Ether (DME) -fuelled tractor/ vehicle for on- and off-road applications has
been developed, initiating a new chapter in the crusade for a sustainable alternate fuel-based transport
system.
 The country imports most of its crude oil requirements to energise various sectors of the domestic
economy.
 To bring the country up to speed in renewable energy sector, researchers at IIT Kanpur developed a
100% DME-fuelled engine with a mechanical fuel injection system. It exhibited higher thermal efficiency
and lower emissions than the baseline diesel engine.
Learn Along:
 Dimethyl ether (DME) is a suitable alternative since it is renewable.
 It can be produced indigenously, and several countries, like Japan, USA, China, Sweden, Denmark, and
Korea, are already using DME to power their vehicles.
India’s first mRNA vaccine against Omicron approved
 GEMCOVAC-OM, India’s first indigenous mRNA vaccine for the Omicron variant of the novel
coronavirus, was approved under emergency use guidelines by the Drug Controller General of
India (DCGI).
 This comes a year after the Pune-based Gennova Biopharmaceuticals Ltd. got approval for GEMCOVAC-
19 against COVID-19.
Learn Along:
Monthly BeePedia
June 2023
About DGCA
 The Directorate General of Civil Aviation is the regulatory body in the field of Civil Aviation primarily dealing
with safety issues.
 It is responsible for regulation of air transport services to/from/within India and for enforcement of civil air
regulations, air safety and airworthiness standards.
 The headquarters are located in New Delhi with regional offices in the various parts of India.
Suit: The unique telescope delivered to Isro to launch with Aditya L-1 mission
 Pune’s Inter-University Center for Astronomy and Astrophysics (IUCAA) has delivered the Solar
Ultraviolet Imaging Telescope (Suit) to the Indian Space Research Organisation (Isro).
 Suit will be launched onboard India's maiden mission to explore the Sun — Aditya L-1 — in the coming
months.
 It is one of the seven instruments being launched outside Earth with the mission to unravel the secrets
of the Sun.
WHAT IS SUIT?
 The Solar Ultraviolet Imaging Telescope (Suit), designed by scientists at IUCAA, will study the Sun's
ultraviolet (UV) emissions and capture high-resolution images of the Sun's atmosphere, known as
the corona, in various UV wavelengths.
 Suit will enable scientists to explore the dynamic and complex processes occurring in the Sun's outer
layers.
 The instrument will observe the hotter and more dynamic regions of the Sun's atmosphere, such as
the transition region and the corona.
 The chromosphere is the layer of the Sun's atmosphere that lies just above the photosphere. The
corona is the outermost layer of the Sun's atmosphere.
Learn Along:
About Aditya L-1
 Aditya L-1 mission is India's maiden mission to observe the Sun.
 It will also explore the dynamics of solar flares, sudden, violent outbursts of energy from the Sun.
 Isro will use Suit to monitor the Sun's activity and provide early warning of potential solar flares and CMEs,
study the interaction between the Sun and the Earth's atmosphere, and try to better understand the role of the Sun
in climate change.
Ministry of Heavy Industries launches "Dugdh Sankalan Sathi Mobile App" to Transform Indian Dairy
Industries
 Ministry of Heavy Industries unveiled the ground-breaking "Dugdh Sanakalan Sathi Mobile App" at
Mussorie, Uttarakhand. This innovative application, designed and developed by Rajasthan Electronics
& Instruments Limited (REIL), Jaipur, a “Mini Ratna” Central Public Sector Enterprises under the
Ministry of Heavy Industries.
 This mobile app aims to improve the quality of milk, foster transparency among stakeholders, and
streamline operations at the grassroots village level, including Milk Cooperative Societies.
 The "Dugdh Sankalan Sathi Mobile App" will bring significant benefits for all stakeholders involved in the
milk collection process, including milk producers, cooperative societies, milk unions, and state
federations. Key features and benefits of the app include:
o Increased transparency among stakeholders
Monthly BeePedia
June 2023
o Online monitoring of daily milk poured at Milk Cooperative Societies

o Real-time milk price updates from the cloud server, ensuring transparency and eliminating human
errors
o Direct beneficiary transfers of milk payment and government subsidies to the milk producers' bank
accounts through the app
o Push notifications for milk collection to the milk producers' app
o Multilingual app with support for English, Hindi, Punjabi, Telugu, and more
Learn Along:
Ministry of Heavy Industries Union Minister : Mahendra Nath Pandey
China launches 41 satellites in single mission, sets record
 China set a new national record as it launched 41 satellites into space with a single mission using
the Long March 2D rocket.
 The rocket took off from the Taiyuan Satellite Launch Centre in Shanxi province. The main purpose of
these satellites is to provide commercial remote sensing services and undergo related technology
verification.
Learn Along:
About China
Currency: Renminbi Capital: Beijing Prime Minister: Li Qiang
NTPC Vidyut Vyapar Nigam Limited Energized Inaugural Rooftop Solar Project of 1 MW at IIT Jodhpur,
Rajasthan
 NTPC Vidyut Vyapar Nigam Limited (NVVN) has commissioned its first Rooftop Solar PV Project at
IIT Jodhpur, Rajasthan.
 The one MW Grid connected Solar Project has been implemented by NVVN under the RESCO model
with Power Purchase Agreement duration of 25 years.
 The Project is setup on the roofs of 14 buildings inside the campus of the IIT.
 The project will generate around 14.9 Lakhs units per annum and will meet 15% of the electricity
requirement of IIT Jodhpur. The Rooftop project will reduce 1060 tonnes of CO2 emission per year.
Learn Along:
 NTPC Vidyut Vyapar Nigam Limited was formed by NTPC in the year 2002 as its wholly owned subsidiary to tap
the potential of power trading in the country.
 NVVN holds the highest Category ‘I’ power trading license as per latest CERC regulation.
Archaeologist reported Mesolithic-era rock paintings in Guntur
 A Mesolithic period rock painting depicting a person tilling a piece of land has been found by D. Kanna
Babu, former Superintending Archaeologist of the Temple Survey Project (Southern Region) of the
Archaeological Survey of India, Chennai, in Orvakallu village in Guntur district, Andhra Pradesh.
 The paintings were made with “natural white kaolin and red ochre pigments”, as well as that most of
them had been “badly damaged” due to exposure to “air and wind”. “However, some of the sketches and
outlines are still intact for the visitors.
 Ochre is a pigment composed of clay, sand, and ferric oxide. Kaolinite is a soft, earthy, and usually white
mineral produced by the chemical weathering of aluminium silicate minerals like feldspar.
Monthly BeePedia
June 2023
 Earlier, in 2018, archaeologists had uncovered prehistoric rock art estimated to be from the Neolothic
era, circa 1500-2000 BC, on natural limestone formations near Dachepalli in Guntur district.
Learn Along:
About Andhra Pradesh
Capital: Amaravati Chief minister: YS Jagan Mohan Reddy Governor: S. Abdul Nazeer
India cleared Micron’s semiconductor testing and packaging plan
 Micron Technology’s semiconductor testing and packing unit proposal has got approval from the
Indian cabinet.
 US-headquartered memory chip company intends to set up a testing and packaging plant in Gujarat,
India.
 The ATMP (also referred to as OSAT - Out Sourced Assembly & Test) is a key part of the semiconductor
ecosystem.
 Micron Technology plans to build a $2.7 billion semiconductor testing and packaging unit, and the
government has agreed to production-linked incentives worth 110 billion rupees ($1.34 billion) for the plant.
India joins Nasa's Artemis Accords
 Prime Minister Narendra Modi signed the Artemis Accords with the nation's national space
administration.
 This agreement holds significant importance for India to establish itself as a global space power.
 Furthermore, the National Aeronautics and Space Administration (Nasa) and the Indian Space Research
Organisation (Isro) have also agreed to launch a joint mission to the International Space Station (ISS)
in 2024.
What are Artemis Accords?
 The Artemis accord outlines the “principles for cooperation in space exploration and the use of the
moon, mars, comets, and asteroids for peaceful purposes.”
 These principles are non-binding multilateral arrangements between the US government and other
governments that wish to participate in NASA’s Artemis programme.
What is the Artemis program?

 Nasa's Artemis program focuses on making new scientific discoveries and expanding the
exploration of the lunar surface.
 By studying the Moon, scientists hope to gain valuable insights and make discoveries that can
contribute to advancements in various fields, including technology, medicine, and a better
understanding of the workings of the entire universe.
 One of its key goals is to land the first woman and the first person of color on the Moon. This historic
event will pave the way for greater diversity and inclusivity in space exploration.
 Furthermore, the programme aims to land the first astronauts on Mars and eventually on other
planets and celestial bodies.
When were Artemis Accords established?

 Nasa, in collaboration with the US Department of State, established the Artemis Accords in 2020.
 The accords are agreements between the United States and seven other founding member nations.
Monthly BeePedia
June 2023
 They reinforce the commitment to international space treaties and agreements, such as the Registration
Convention and the Rescue and Return Agreement.
Which other nations are a part of the Artemis Accords?
 While Nasa is leading the Artemis program, the accords were signed by the directors of the national space
agencies of the US, Australia, Canada, Japan, Luxembourg, Italy, the United Kingdom, and the
United Arab Emirates in October 2020. Ukraine signed the accord a month later.
 The accords were extended to South Korea, New Zealand, Brazil, Poland, the Isle of Man, and Mexico
in 2021.
 In the following year, 2022, Israel, Romania, Bahrain, Singapore, Colombia, France, Saudi Arabia,
Rwanda, Nigeria, and the Czech Republic also joined the accords.
 Spain, Ecuador, and now India have also signed on, making a total of 28 nations so far.
Learn Along:
About NASA
Founded: 29 July 1958 Headquarters: Washington, D.C., United States Chairman: Bill Nelson
IIT Kanpur conducts test flight for cloud seeding
 Indian Institute of Technology Kanpur has successfully conducted a test flight for cloud seeding.
 Cloud seeding involves the utilisation of various chemical agents such as silver iodide, dry ice,
common salt, and other elements with the aim of enhancing the probability of rains.
 The project was initiated a few years ago and is headed by the Computer Science and Engineering
Department of IIT Kanpur.
 The flight went up to an approximate height of 5,000 feet. It landed on the IIT Kanpur lab airstrip after
successfully completing the test ride.
 The experiment was conducted with due approval from the Directorate General of Civil Aviation
(DGCA).
 A Cessna aircraft was flown from the flight laboratory of IIT Kanpur with cloud seeding attachments
procured from a manufacturer in the US.
Four manufacturers signed sublicence agreements with the Medicines Patent Pool to produce
generic versions of nilotinib for the treatment of chronic myeloid leukaemia
 Geneva – The Medicines Patent Pool (MPP) announced has signed sublicence agreements with three
India-based companies, Eugia, Hetero and Dr. Reddy’s Laboratories, along with Indonesian-based
company BrightGene to manufacture generic versions of Novartis’ cancer treatment nilotinib that
is used for the treatment of chronic myeloid leukaemia (CML).
 These are the first sublicence agreements that MPP has signed for a cancer treatment and are the
result of a licence agreement signed between MPP and Novartis Pharma AG in October 2022 for their
patented cancer medicine.
 The selected generic manufacturers can manufacture generic versions of nilotinib in India and
seven middle-income countries and supply it in 44 territories included in the licence through a non-
exclusive licence agreement, subject to local regulatory authorisation.
Monthly BeePedia
June 2023
 The licence includes the opportunity to develop and supply generic version of nilotinib in seven
middle-income countries, namely Egypt, Guatemala, Indonesia, Morocco, Pakistan, the Philippines and
Tunisia, where patents on the product are pending or in force.
Learn Along:
About the Medicines Patent Pool
 The Medicines Patent Pool (MPP) is a United Nations-backed public health organisation working to increase
access to and facilitate the development of life-saving medicines for low- and middle-income countries.
 Through its innovative business model, MPP partners with civil society, governments, international
organisations, industry, patient groups, and other stakeholders to prioritise and license needed medicines and
pool intellectual property to encourage generic manufacture and the development of new formulations.
India's first hydrogen plant in Jind, Haryana
 India's first hydrogen plant in Jind, Haryana ,is in the final stage of development and will produce
hydrogen from water.
 India's first hydrogen-powered train is expected to run from Jind district by the end of this year.
 Hydrogen-powered trains are currently running only in Germany, and India's project is being closely
watched by the world.
 The first prototype of the hydrogen train will be introduced between Jind and Sonipat on the
Northern Railway in the financial year 2023-2024.
Meta launched $250K mixed reality fund for 5 Indian startups
 Meta has launched a Mixed Reality (MR) program in India with a $250,000 award for local startups and
developers.
 The program aims to build an XR technology ecosystem in India and make virtual experiences
more tangible and accessible.
 Selected Indian developers and companies will receive a monetary grant, mentoring, and guidance
from Meta Reality Labs specialists.
 The fund is accepting applications and encourages developers to incorporate specific features
into their Meta Quest apps.
Learn Along:
About Meta
Founded: February 2004 Headquarters: California, United States CEO: Mark Zuckerberg
American bald eagle ‘returned’ from the brink of extinction
 The American bald eagle was removed from the US list of endangered species on June 28, 2007.
 Since then, the population of bald eagles has steadily increased.
 A 2021 report by the US Fish and Wildlife Service stated that the number of bald eagles in the wild
has quadrupled since 2009.
 In the past, the bird faced multiple threats and was on the verge of extinction.
 The decline in the population started in the early 1800s due to hunting and the perception of bald
eagles as a threat to livestock.
 Hunting intensified in the latter half of the 19th century when feather hats became popular.
 The Bald and Golden Eagle Protection Act was passed in 1940 to provide protections for eagles.
Monthly BeePedia
June 2023
 DDT, an insecticide widely used for agriculture in the mid to late 1940s, had a devastating effect on
the bald eagle population.
DEFENCE
BEML bags order from Defence Ministry of Defence for Rs 423.11 crore
 State-owned BEML Ltd announced that it has won a significant contract from the Ministry of Defence
(MOD) for the supply of High Mobility vehicles.
 The total contract value is Rs 423.11 crore.
 Earlier, the company had posted its fiscal fourth quarter results wherein it reported 18.2 per cent
growth in consolidated net profit to Rs 157.7 crore in fourth quarter of FY23 in comparison to Rs 133
crore in the same quarter last year.
 Further, the company’s revenue from operations was at Rs 1,387.94 crore in Q4FY23, down 17.56
per cent from Rs 1,683.58 crore in Q4 of FY22.
 However, sequentially, the revenue was up 33.85 per cent from Rs 1,036.97 crore in Q3FY23.
 For the full year FY23, the company’s PAT stood at Rs 157.89 crore as against Rs 128.59 crore.
Learn Along:
About BEML Ltd
 BEML Limited, formerly Bharat Earth Movers Limited, is an Indian public sector undertaking which manufactures
a variety of heavy equipment, such as that used for earth moving, railways, transport and mining.
 BEML is Asia's second-largest manufacturer of earth moving equipment.
 Founded: May 1964 Headquarters: Bengaluru CMD: Amit Banerjee
L&T, DRDO signed pact to build AIP modules
 Larsen & Toubro (L&T) and the Defence Research and Development Organisation (DRDO) signed
a contract for realisation of two Air Independent Propulsion (AIP) System Modules for the Kalvari
Class of submarines of the Indian Navy.
 An AIP module extends the endurance of conventional submarines and is a niche technology.
 These modules constitute the core of the fuel cell-based AIP System, indigenously developed by
the Naval Materials Research Laboratory of the DRDO with L&T as prime industry partner.
 The Energy Modules comprising fuel cells produce the required power, along with on board
hydrogen generation,” the company said.
Learn Along:
About DRDO
Founded: 1958 Headquarters: New Delhi Chairman: Dr Samir V Kamat
India-United States Defence Acceleration Ecosystem (INDUS X) launched in Washington DC, U.S.
 India-United States Defence Acceleration Ecosystem (INDUS X) was launched at an event in

Washington DC, USA on 21 June 2023.
 The INDUS X event was co-organised by Innovations for Defence Excellence (iDEX), Ministry of
Defence, and US Department of Defence (DoD) and hosted by US-India Business Council (USIBC).
Monthly BeePedia
June 2023
 The event saw a first-of-its-kind joint showcasing of innovative technologies by Indian and US
start-ups.
 15 Indian start-ups and 10 US start-ups, from multiple domains of maritime, AI, autonomous systems,
and space, showcased their technologies to Indian and US stakeholders.
IAF Conducted Exercise 'Ranvijay' With Focus On Integrating Day & Night Operations
 The Indian Air Force conducted Exercise Ranvijay with a focus on integration and joint operations.
 It was conducted from different air bases of the command headquarters of IAF in Prayagraj.
 The IAF conducted day and night operations with its various combat fleet including the Sukhoi Su-
30MKI aircraft, a twin-engine multirole fighter aircraft developed by Russia’s Sukhoi and built under
license by India’s Hindustan Aeronautics Limited (HAL).
Learn Along:
 The Sukhoi Su-30MKI aircraft is a heavy, all-weather long-range fighter.
 It is the most advanced fighter of the IAF after the French-made Rafale jets.
 The first fighter joined the fleet of the IAF in 2002, while the first aircraft assembled in India entered service with
IAF in 2004.
HAL, General Electric sign MoU to manufacture jet engine, mark new era for India-US defence ties
 General Electric (GE) has signed an MoU with Hindustan Aeronautics Limited (HAL) to jointly
produce fighter jet engines for the Indian Air Force (IAF).
 The deal involves a significant transfer of technology and indigenous work.
 The agreement includes the potential joint production of GE Aerospace's F414 engines in India.
 The deal is subject to approval from the US Congress, which is a 30-day process.
 HAL will carry out the engine production at its facility in Bengaluru.
 The partnership marks the beginning of a new era in India-US relations.
 The F414 engine will power future fighter jets like the Tejas Mk II and the indigenous Twin Engine
Deck Based Fighter (TEDBF).
 India's pursuit of jet engine technology has been ongoing since the 1960s.
 GE has been involved in the development of India's indigenous Light Combat Aircraft (LCA) with F404
engines.
 The agreement with GE will support the LCA Mk2 program and potential development of the
Advanced Medium Combat Aircraft (AMCA) with newer engine versions.
 The partnership could eventually lead to joint design, development, and manufacture of more
powerful engines.
Learn Along:
About HAL
Founded: 23 December 1940 Headquarters: Bangalore, Karnataka
Chairman and Managing Director: C.B. Ananthakrishnan
AIIA and Vijnana Bharati Organized Global Indian Scientists and Technocrats Forum Meet at New
Delhi
Monthly BeePedia
June 2023
 The All India Institute of Ayurveda (AIIA) and Vijnana Bharati is jointly organising a groundbreaking
event, GI-YSRI Conference (Global Indian Young Scientists Research & Innovation) and it will continue
till June 2nd at National Agricultural Science Complex, N. Delhi.
 The inauguration of the conference was done by Shri Rajesh Kotecha, Secretary Ministry of Ayush
who was the Chief Guest for the event.
 The primary objective of the Conference is to introduce GIST to heads of agencies, showcase
ongoing collaborations and partnerships, identify new opportunities for collaborations, and
emphasize diversity, equity, and inclusion in promoting science and technology.
 The event will serve as a platform for inviting more agencies and engaging the scientific and
technological diaspora, highlighting and discussing ongoing partnerships and collaborations between
the science and technology diaspora and Indian scholars and leaders, and addressing important societal
needs.
 GIST aimed to develop a model and platform for open and thoughtful deliberations and scientific
dialogues on key national and international topics, ensuring that no individual or group is left behind.
India conducted successful training launch of Agni-1 ballistic missile
 A successful training launch of a Medium-Range Ballistic Missile, Agni-1 was carried out by the
Strategic Forces Command from APJ Abdul Kalam Island in Odisha.
 The missile is a proven system, capable of striking targets with a very high degree of precision.
Indian Navy’s Green Initiatives imbibing Green Technologies
 Indian Navy has commissioned solar power with cumulative capacity of 15.87MW which is in line
with the Navy’s objective of fulfilling Govt of India’s ‘Jawaharlal Nehru National Solar Mission
(JNNSM)’ mission. These plants are grid-connected utilising single-axis sun tracking technology with
computerised monitoring & control. Additionally, 16 MW capacity of SPVs are at various stages of
execution.
 As a maiden initiative, an indigenous make and patented retrofit device developed by M/s Chakr
Innovations for reducing diesel engine emissions was installed on a shore-based Diesel Generator for
long-term trials.
 Trials have indicated 70% reduction in Hydrocarbon, Carbon Monoxide, and Particulate Matter in the
engine’s exhaust emissions.
 The retrofit device for diesel engine exhaust emission reduction is being inducted in a phased manner
on all land-based Diesel Gensets, and once inducted, it would go a long way in enabling the Navy towards
reducing the emissions levels further.
 Indian Navy in collaboration with IISc (Bengaluru) has operationalised a ‘first of its kind’ 100KW
capacity AC plant in the country based on the natural refrigerant Carbon dioxide.
 The plant has been installed at the Centre of Excellence (Marine Engineering), INS Shivaji for trials
and exploitation. Till now, the plant has clocked 850 hrs of operation successfully.
MAIDEN INDIA-FRANCE-UAE MARITIME PARTNERSHIP EXERCISE
Monthly BeePedia
June 2023
 The first edition of India, France and UAE Maritime Partnership Exercise commenced on 07 Jun 23
in the Gulf of Oman.
 INS Tarkash and French Ship Surcouf both with integral helicopters, French Rafale aircraft and UAE
Navy Maritime Patrol Aircraft are participating in the exercise.
 The exercise scheduled over two days will witness a wide spectrum of naval operations such as
Surface Warfare, involving tactical firing and Drills for Missile engagements on surface targets, Helicopter
Cross Deck Landing Operations, Advanced Air Defence Exercise and Boarding operations.
 The maiden exercise aims to enhance trilateral cooperation between the three navies and pave way
for adopting measures towards addressing traditional and non-traditional threats in the maritime
environment.
 The exercise will also enhance collaboration in ensuring safety of mercantile trade and freedom of
navigation at high seas in the region.
Learn Along:
About France
Capital: Paris Currency: Euro President: Emmanuel Macron
DRDO successfully testsed ballistic missile ‘Agni Prime’
 New Generation Ballistic Missile ‘Agni Prime’ was successfully flight-tested by Defence Research and
Development Organisation (DRDO) from Dr APJ Abdul Kalam Island off the coast of Odisha on June
07, 2023.
 This was the first pre-induction night launch conducted by the users after three successful
developmental trials of the missile, validating the accuracy and reliability of the system.
Learn Along:
About Agmi Prime
 Agni-P is a two-stage canisterised solid propellant ballistic missile with dual redundant navigation and guidance
system, according to the DRDO.
 It has a range between 1000 to 2000 km and was tested for the first time in June 2021.
 It is lighter than all the earlier Agni series of missiles.
Kerala-cadre IPS officer Nitin Agarwal is new BSF D-G
 Nitin Agarwal, a 1989-batch IPS officer of Kerala cadre, was appointed the new Director-General of
the Border Security Force (BSF.
 Mr. Nitin Agarwal is currently posted as the Additional D-G of Operations at the Central Reserve
Police Force (CRPF) headquarters in Delhi.
 The post of BSF chief has been vacant for more than five months after Pankaj Kumar Singh retired on
December 31, 2022.
 CRPF D-G Sujoy Lal Thaosen has been handling the charge of the BSF in an additional capacity since
then.
Learn Along:
About BSF
Founded: 1 December 1965 Headquarters: New Delhi, India
First edition of India, France and UAE Maritime Partnership Exercise takes off
Monthly BeePedia
June 2023
 The first edition of the maritime partnership exercise involving India, France and the UAE navies
was conducted in the Gulf of Oman.
 This joint exercise began with the aim to strengthen trilateral cooperation among the navies of three
nations.
 Its purpose was to address both traditional and non-traditional threats in the maritime environment
while promoting the safety of mercantile trade and freedom of navigation in the high seas of the region.
 This included surface warfare, tactical firing, missile engagements on surface targets and
helicopter cross-deck landing operations.
INDIAN ARMY SIGNED CONTRACT FOR PROCUREMENT OF ‘TACTICAL LAN RADIO’ THROUGH
INNOVATIONS FOR DEFENCE EXCELLENCE (IDEX)
 The Indian Army has signed the second procurement contract through Innovations for Defence
Excellence (iDEX) on 09 June 2023.
 With this initiative, the Indian Army has taken a lead by signing two contracts under iDEX till date.
 Tactical LAN solution is being developed indigenously for creating secure tactical LAN in remote
and difficult terrain.
 ‘Tactical LAN Radio' is a state of the art high bandwidth backhaul wireless radio equipment for
provisioning of reliable and failsafe communication.
Learn Along:
 iDEX was launched by Hon'ble PM on 12 April 2018 during Defence Expo India 2018.
 The aim of iDEX is to create an eco-system to foster innovations and encourage technological development
in Defence and Aerospace by engaging R&D institutes, academia, industries including MSMEs, start-ups,
individual innovators and provide them grants/ funding and other support to carry out R&D which has good potential
for future adoption by Indian Defence and Aerospace Organisation.
Delivery of First ACTCM Barge, LSAM 15 (Yard 125) at NAD (Karanja), Mumbai
 Contract for construction of 11 x Ammunition Cum Torpedo Cum Missile (ACTCM) Barge was
concluded with M/s Suryadipta Projects Pvt Ltd, Thane, a MSME, in consonance with “Aatmanirbhar
Bharat” initiatives of the Government of India.
 First Barge of the series LSAM 15 (Yard 125) has been delivered to Indian Navy on 09 Jun 2023.
 The Barge has been built under the classification rules of Indian Register of Shipping (IRS) with a
service life of 30 years.
 Induction of ACTCM Barges will provide impetus to Operational commitments of Indian Navy by
facilitating Transportation, Embarkation and Disembarkation of articles/ ammunition to IN Ships both
alongside jetties and at outer harbours.
INDO-MALDIVES JOINT MILITARY EXERCISE “EKUVERIN” COMMENCED AT CHAUBATIA,

UTTARAKHAND
Monthly BeePedia
June 2023
 The 12th edition of joint military exercise “Ex Ekuverin” between the Indian Army & the Maldives
National Defence Force has commenced at Chaubatia, Uttarakhand from 11 to 24 June 2023.
Ekuverin meaning ‘Friends’ is a bilateral annual exercise conducted alternatively in India and Maldives.
 A platoon strength contingent from Indian Army and Maldives National Defence Force will be participating
in 14 days long exercise.
 The exercise is aimed at enhancing interoperability in Counter Insurgency/ Counter Terrorism
Operations under the UN mandate and carry out joint Humanitarian Assistance and Disaster Relief
operations.
 The focus is to share best practices, enhance coordination and cooperation between both the
forces at tactical level.
Learn Along:
 The 11th edition of the exercise was held in Maldives in December 2021.
 The defence cooperation between the two countries extends from joint exercises to assisting Maldives with
defence training and equipment requirements.
 Both the nations have very close and friendly relations in economic, cultural and military cooperation.
 ‘Ex Ekuverin’ will assist in further bolstering of these ties between the two nations.
Indian Drugs Controller approved first indigenously developed animal-derived tissue engineering
scaffold for healing skin wounds with minimum scarring
 The first indigenously developed tissue engineering scaffold from mammalian organs, an animal-
derived Class D Biomedical Device that can rapidly heal skin wounds at low-cost with minimum
scarring, has received approval from the Indian Drugs Controller.
 With this, the Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), an
autonomous institution of the Department of Science and Technology (DST), became the first
institution in the country to develop Class D medical devices that satisfy all statutory requirements
of the Central Drugs Standard Control Organisation, Government of India.
 Researchers of the Division of Experimental Pathology in the Biomedical Technology Wing of the
institute developed an innovative technology for preparing tissue engineering scaffolds from
mammalian organs.
Learn Along:
About Central Drugs Standard Control Organization
 The Central Drugs Standard Control Organization (CDSCO) is the Central Drug Authority for discharging
functions assigned to the Central Government under the Drugs and Cosmetics Act.
 CDSCO has six zonal offices, four sub-zonal offices, 13 port offices and seven laboratories under its control.
 Drugs Controller General of India: Dr. Rajeev Singh Raghuvanshi
Ministry of Defence & Kotak Mahindra Life Insurance tie-up for jobs to veterans
 A Memorandum of Understanding (MoU) was signed between Directorate General Resettlement

(DGR), an arm of Ministry of Defence, and Kotak Mahindra Life Insurance Company Ltd to create
employment opportunities for ex-servicemen.
 This partnership would bring in more visibility of our Ex-servicemen to the industry and corporates
and help in achieving the objectives of providing skilled manpower and giving a dignified second career
to our Ex-servicemen”.
Monthly BeePedia
June 2023
 Kendriya Sainik Boards (KSB) and Directorate General of Resettlement (DGR) are implementing
agencies of schemes for welfare and rehabilitation of ex-servicemen such as girl marriage grant, penury
grant and disabled children grant, and the government annually allocates funds for them.
 The actual expenditure incurred by the KSBs for previous two years 2021-22 and 2020-21 was ₹234
crore and ₹420 crore, respectively, while the budget allocated for 2022-23 was ₹150 crore.
Two warships launched, keel laid for a 3rd vessel
 Two warships of different classes were launched into the water, while the keel of a third vessel was laid
at Larsen & Toubro (L&T) shipyard at Kattupalli in Chennai.
 All these are being built by Kolkata-based defence shipyard Garden Reach Shipbuilders and
Engineers Ltd (GRSE).
 The ships launched were Anjadip, the 3rd Anti-Submarine Shallow Water Craft (ASWSWC), and
Sanshodhak, the 4th Survey Vessel Large (SVL) while the keel was laid for the 7th ASWSWC, GRSE.
 The contract for building four SVL ships was signed between the Ministry of Defence (MoD) and
GRSE Kolkata on October 30, 2018.
 The first ship would be built at GRSE, Kolkata, and the construction of the remaining three ships up to
the outfitting stage has been subcontracted to L&T Shipbuilding.
 Similarly, the contract for building eight ASW SWC ships was signed between MoD and GRSE on April
29, 2019, and four ships are being built at GRSE in Kolkata and the balance four ships sub-contracted to
L&T Shipbuilding.
Learn Along:
 Anjadip is named after an island close to India’s western coast that is now part of the Indian Naval base INS
Kadamba.
 Anjadip offered strong resistance in 1961 when India took back Goa from the Portuguese.
 The island also has a memorial for the brave Indian marines who were martyred there.
 This ship is also the reincarnation of a Soviet-era ASW ship of the Indian Navy which was decommissioned in
December 2003.
INDIAN NAVY OUTREACH PROGRAMME “JULLEY LADAKH” (HELLO LADAKH)
 Indian Navy is conducting “Julley Ladakh” (Hello Ladakh), an outreach programme to Ladakh to
increase awareness about the service in the pristine state and to engage with youth and civil society
there.
 Towards this a 5000km Motorcycle Expedition was flagged off by VAdm Sanjay Jasjit Singh, Vice
Chief of Naval Staff, from the National War Memorial on 15 Jun 2023.
 The Indian Navy had also undertaken the Sam No Varunah car expedition to engage with citizens
in all the coastal states.
 The main objectives of the current initiative in the Northern Territory include: -
 Celebrate Azadi ka Amrit Mahotsav (75 years of Indian Independence).
 Conduct Awareness drives at Schools/ Colleges in Ladakh region about the career opportunities
Indian Navy offers including the Agnipath Scheme.
 Motivate Youth to join the Indian Navy.
Monthly BeePedia
June 2023
 Showcase Nari Shakti, an initiative of Prime Minister Shri Narendra Modi, by including Women
Officers and spouses.
 Interact with naval veterans and Veer Naris in the region.
Learn Along:
About Ladakh
Union territory: 31 October 2019 LG: Brig. (Dr) B.D. Mishra
Rajnath Singh chairs meeting of Consultative Committee for MoD on self-reliance in Bengaluru
 Rajnath Singh chaired a meeting of the Consultative Committee for the Ministry of Defence on ‘Self-
reliance in Defence Manufacturing’ in Bengaluru, Karnataka.
 The Minister highlighted the Government’s constant endeavour to enhance the security of the
country and make the Armed Forces technologically advanced to deal with challenges emanating out
of the ever-evolving global scenario. A number of decisions have been taken to achieve self reliance.
These include constant increase in defence budget, including capital outlay; earmarking of record
75 per cent of defence capital procurement budget for domestic industry in Financial Year 2023-24
and issuance of positive indigenisation lists.
Learn Along:
Ministry of Defence Union Minister: Rajnath Singh
India approved procurement of U.S. MQ-9B SeaGuardian drones
 India's defence ministry has approved the procurement of U.S.-made armed MQ-9B SeaGuardian
drones.
 India will buy 31 drones made by General Atomics worth slightly over $3 billion.
 The ministry's “Acceptance of Necessity” is the first step in the procurement process, which now
needs clearance from Modi's cabinet.
 The drones will predominantly be used by the navy in the Indian Ocean Region.
 The Indian navy has leased two MQ-9B unarmed drones since November 2020 for surveillance.
INDIAN ARMY CONTINGENT PARTICIPATES IN MULTINATIONAL JOINT EXERCISE “EX KHAAN

QUEST 2023” IN MONGOLIA
 Multinational Peacekeeping Joint Exercise “Ex Khaan Quest 2023” featuring participation from military
contingents and observers from over 20 countries has commenced in Mongolia.
 Mr Ukhnaagiin Khurelsukh, the Hon’ble President of Mongolia inaugurated the Exercise in a
ceremony organised at the exercise location in Mongolia.
 The exercise is co-sponsored by Mongolian Armed Forces (MAF) and United States Army Pacific
Command (USARPAC).
 The Indian Army is represented by a contingent from the GARHWAL RIFLES.
 The 14-day exercise is aimed at enhancing interoperability of the participating nations, for sharing
experience and to train uniformed personnel for the United Nations Peacekeeping Operations
(UNPKO).
Monthly BeePedia
June 2023
 The military exercise will enhance the level of defence co-operation between Indian Army and
participating countries especially with the Mongolian Armed Forces which will enhance bilateral
relations between the two countries.
INDIAN NAVY - OCEAN RING OF YOGA INTERNATIONAL DAY OF YOGA (IDY 23)
 21st June was recognised as the International Day of Yoga (IDY) by the United Nations General
Assembly (UNGA) in Dec 14 at the initiative of Prime Minister of India Shri Narendra Modi.
 Since 2015, the IDY has been observed worldwide with great enthusiasm and fervour.
 To commemorate IDY 23, the Ministry of AYUSH has planned an event ‘Ocean Ring of Yoga’
(symbolising unity and solidarity) in coordination with Ministry of Defence and other ministries.
 In support of the IDY-23 initiative, Indian Navy ships deployed in the Indian Ocean Region are
visiting various ports of friendly foreign countries and spreading the message of ‘Vasudhaiva
Kutumbakam’ which is also the theme for IDY 23.
INDIAN ARMY FORMS ‘BHARATMALA’ COMMEMORATING
 The Ninth International Yoga Day was celebrated by the Indian Army with fervor.
 The Army formed a ‘Bharatmala’ by conducting Yoga all along the border areas of the nation, ranging
from the eastern extremity of Dong, where the first rays of the Sun fall in India to the sand dunes of
Longewala in Rajasthan, where the epic battle was fought in 1971; from the glacial heights of Siachen
to the southern tip of Kanyakumari and in the Andaman & Nicobar Islands.
 The troops, families including children and defence civilians actively participated in the event. The
local populace at all locations was also actively co-opted in the Yoga activities.
Raksha Mantri Shri Rajnath Singh inaugurates Integrated Simulator Complex ‘Dhruv’ in Kochi to
enhance practical training of Indian Navy personnel
 Raksha Mantri Shri Rajnath Singh inaugurated the Integrated Simulator Complex (ISC) ‘Dhruv’ at
Southern Naval Command, Kochi on June 21, 2023.
 The ISC ‘Dhruv’ hosts modern state-of-the-art indigenously-built simulators which will significantly
enhance practical training in the Indian Navy.
 These simulators are envisaged to give real-time experience on navigation, fleet operations and
Naval tactics. These simulators will also be utilised for training of personnel from friendly countries.
EVENTS
Rediffusion and University of Lucknow to launch 'The Bharat Lab'
 The University of Lucknow and advertising agency Rediffusion to launch 'The Bharat Lab' to provide
opportunities for faculty and students to exchange knowledge with commerce and industry experts
and know about consumer behaviour of people from smaller cities.
Monthly BeePedia
June 2023
 ‘The Bharat Lab’ will provide collaborative opportunities for faculty and students of the University
to exchange knowledge with industry.
 The Lab will include activities such as seminars/workshops, research projects, internships, field
studies, and similar initiatives.
 The data gathered by the Lab shall be applied for better-informed consumer insights in the decision-
making of brands.
India, Vietnam hold 3rd Maritime Security Dialogue in New Delhi
 The 3rd India-Vietnam Maritime Security Dialogue was held in New Delhi.
 Senior officials from both sides and Services concerned with maritime affairs participated in the Dialogue.
 The two sides discussed ways to sustain a secure maritime environment conducive for inclusive
growth.
 They also reviewed maritime cooperation initiatives and avenues of reinforcing international and
regional mechanisms for comprehensive maritime security.
Learn Along:
About Vietnam
Capital: Hanoi Currency: Vietnamese đồng
IICA and NALSAR launched “LL.M in Insolvency and Bankruptcy Laws” programme
 The Indian Institute of Corporate Affairs (IICA) in association with NALSAR University of Law,
Hyderabad launched a new programme, LL.M in Insolvency and Bankruptcy Laws at New Delhi.
 The main objective of the programme is to produce the best and tailor made professionals,
academicians and researcher on IBC who may take up the profession with utmost confidence and join
the rich insolvency eco-system in the country.
Learn Along:
About The Indian Institute of Corporate Affairs
 The Indian Institute of Corporate Affairs is a central civil service training institute under the jurisdiction of Ministry of
Corporate Affairs, Government of India for the central civil servants of the Indian Corporate Law Service cadre.
 Founded: 2012
NTPC Kanti launched Girl Empowerment Mission GEM 2023
 NTPC Kanti has launched the Girl Empowerment Mission (GEM)-2023, a four-week residential
workshop program for 40 underprivileged rural girls from Kanti block as part of its CSR initiative.
 This is the first time NTPC Kanti is organizing the GEM program. Eight students have been selected from
five schools in Kanti Block.
 The participants will receive academic training and development skill sets such as soft skills, life skill
training, sports, meditation, yoga, self-defence, computer application, communication skills, and other
extra-curricular activities.
 The workshop aims to prepare the girl students to become well-rounded individuals, instil curiosity,
and develop better communication and social skills.
 It also encourages them to connect with a subject using their creative skills while promoting
psychological, social, and emotional growth. Senior officials from NTPC, people from nearby villages,
Monthly BeePedia
June 2023
members of the Sanghamitra Ladies Club & Sujata Ladies Club, teachers from participating schools, and
parents of the girl students attended the program.
G20 SAI Summit opened in Goa
 The Comptroller and Auditor General (C&AG) of India is the Chair of the Supreme Audit Institutions-
20 (SAI20) Engagement Group under the India’s G20 Presidency.
 The SAI20 Summit will take place in the state of Goa from 12th to 14th June 2023.
 Under the guiding philosophy for India’s Presidency of G20, Vasudhaiva Kutumbkam i.e. “One Earth,
One Family, and One Future”, the Comptroller and Auditor General of India had proposed the
collaboration of SAI20 Engagement Group on two priority areas — Blue Economy and Responsible
Artificial Intelligence (AI).
 Blue Economy is the Sustainable use of ocean resources for economic growth, improved
livelihoods, and jobs while preserving the health of our ecosystem.
Learn Along:
About G20
 The G20 or Group of 20 is an intergovernmental forum comprising 19 countries and the European Union.
 It works to address major issues related to the global economy, such as international financial stability, climate
change mitigation, and sustainable development.
 Founded: 26 September 1999
Kilauea volcano erupted on Hawaii’s Big Island
 Kilauea, the youngest and most active volcano on the Big Island of Hawaii, erupted recently.
 Kilauea first formed underwater roughly 280,000 years ago and it is considered to be a fairly typical
shield volcano.
 Kilauea erupted almost continuously from 1983 to 2018, when it set off the most destructive eruption
of its recorded history.
 It became active again in 2020.
India, New Zealand hold round table meeting, agree to work on areas of mutual interests
 India and New Zealand have held the first round table joint meeting, where both the sides
acknowledged the huge potential in a mutual partnership and the need for bringing in synergy for
enhanced economic relations in areas of mutual interest.
 It was co-chaired by the additional secretary in the commerce ministry, Rajesh Agarwal and high
commissioner of New Zealand in India, David Pine.
 Looking at the present quantum of bilateral trade between the two countries, both sides acknowledged
the huge potential in India and New Zealand partnership and the need for bringing in synergy for
enhanced economic relations in areas of mutual interest.
 The discussions also focussed on taking forward the objectives of the joint trade committee (JTC),
formed under the bilateral trade agreement of 1986.
Learn Along:
About New Zealand
Capital: Wellington Currency: New Zealand dollar
Monthly BeePedia
June 2023
Vigyan -Vidushi – 2023
 Vigyan -Vidushi – 2023, an initiative to address the gender balance in the discipline of Physics at the
doctorate level, has commenced at the Homi Bhabha Centre for Science Education (HBCSE), in
Mumbai.
 40 women students from forty different institutes all over India, who have just completed their first year
MSc in Physics, are attending this programme that will give them an exposure to advanced physics
courses and encourage them to perform innovative experiments.
 Tata Institute of Fundamental Research (TIFR), through its Homi Bhabha Centre for Science Education
(HBCSE), has started the three-week summer programme “Vigyan Vidushi” for girl students pursuing
Physics at M.Sc. level, since 2020.
 The programme, which had started during the COVID pandemic, will be held completely in the
residential mode, at HBSCE, for the first time from 12 June to 1 July, 2023.
 The Gender gap in STEM (Science, Technology, Engineering and Mathematics) is a matter of global
concern.
Health Ministry organized G20 co-branded event titled 'Health of Youth-Wealth of Nation' in New Delhi
 Health Ministry in collaboration with the Partnership for Maternal, Newborn, Child Health, Geneva
is organizing a G20 co-branded event titled 'Health of Youth-Wealth of Nation' in New Delhi.
 This global gathering aims to highlight the health and well-being needs of 1.8 billion adolescents
and youth worldwide and to foster increased attention and investment by G20 nations in the health of
adolescents and youth.
 The event features two technical sessions focusing on adolescent health and well-being and multi-
sectoral partnerships for youth engagement.
 One of the objectives of the G20 co-branded event is to empower youth as change-makers in society,
as well as foster dialogue and engagement among policymakers, and youth icons from G20 nations.
Learn Along:
About G20
 Founded: 26 September 1999 Chairman (Incumbent): Narendra Modi, Prime Minister of India
W20 Summit Women-Led Development; Transform, Thrive and Transcend
 Women 20 Summit is set to take place in Radisson Blu Resort Temple Bay, Mahabalipuram, Tamil
Nadu, India on 14th - 16th June 2023.
 The theme of this year’s summit is ‘Women-Led Development- Transform, Thrive and Transcend’.
 The summit will also include an exhibition from grassroots entrepreneurs of Tamil Nadu, supported
by the Department of Rural Development, Tamil Nadu.
 It also includes exhibits by W20 Argentina and W20 Indonesia. The exhibition will be inaugurated on
15th June in the Ball Room of Radisson Blu Resort Temple Bay, Mahabalipuram, Tamil Nadu.
Monthly BeePedia
June 2023
Learn Along:
About W20
 The Women 20 (W20) is the official G20 engagement group, created in 2015 under Turkey’s Presidency of G20,
with the objective of focusing on gender equity.
 The primary objective of W20 is women's empowerment and advocating for women’s rights, raising women’s
voices in society.
 India’s W20 agenda focuses on five key priorities: Women’s Entrepreneurship, Grassroots Women's
Leadership, Bridging the Gender Digital Divide, Education and Skill Development, and Climate Change.
1st Janjatiya Khel Mahotsav Concludes at KIIT, Odisha Emerged in Overal Champions
 Curtains came down on the first Janjatiya Khel Mahotsav with Odisha emerging as the overall
champions in both the men’s and women’s categories.
 The grand sporting extravaganza was hosted by KIIT and was a joint initiative of the Ministry of
Culture and the Odisha Government.
 The first edition attracted the participation of 5,000 tribal athletes and 1,000 officials from 26 states,
with Chief Minister Naveen Patnaik describing the games as a historic event.
 Karnataka emerged as the 1st runners up and Jharkhand as the 2nd runners up in the overall.
Learn Along:
About Odisha
Chief minister: Naveen Patnaik Governor: Ganeshi Lal Capital: Bhubaneswar
Pune to host the G-20 4th Education Working Group Meeting
 The Ministry of Education is going to host the 4th Education Working Group (EdWG) meeting in Pune,
Maharashtra. The highly anticipated event will take place from June 20th to 21st, 2023, and will witness
the participation of 85 delegates from G-20 member countries, guest countries and esteemed
organizations such as OECD, UNESCO and UNICEF.
 Additionally, Ministers from 15 countries have confirmed their attendance for the Education Ministers'
gathering on June 22, 2023, along with senior representatives from UNICEF, OECD and UNESCO.
 The seminar, themed "Ensuring Foundational Literacy and Numeracy, especially in the context of
Blended Learning," will be held at Savitribai Phule Pune University on June 19th, 2023.
Learn Along:
Ministry of Education Union Minister: Dharmendra Pradhan
Rajasthan, Gujarat, and Tamil Nadu Lead the Way as Top Achievers in Wind Energy Adoption
 The Ministry of New and Renewable Energy, Government of India, marked the global celebrations
of Global Wind Day on 15th June with a day-long event in New Delhi. The event, centered around the
theme "Pawan – Urja: Powering the Future of India," aimed to commemorate the achievements thus far
in the wind energy sector and explore ways to expedite the adoption of wind energy in the country.
 During the event, the states of Rajasthan, Gujarat, and Tamil Nadu were felicitated for their exceptional
achievements during the financial year 2022-2023. Rajasthan received recognition for achieving the
highest wind capacity addition, Gujarat for attaining the highest wind capacity addition through
open access, and Tamil Nadu for spearheading the repowering of wind turbines.
Learn Along:
Monthly BeePedia
June 2023
Ministry of New and Renewable Energy Union Minister: R. K. Singh
India's Creative Economy showcased at the Annecy International Animation Festival in France
 India is participating at the The Annecy International Animation Festival (AIAF) for the first time this
year.
 India has lately emerged as a preferred destination of VFX and animation content for global production
houses.
 The animation and VFX market in India was pegged to be valued at Rs 109 billion in 2021, with the
VFX business alone amounting to Rs 50 billion.
 This figure is expected to grow to Rs 180 billion by 2024 according to a E&Y report.
Learn Along
About France
Capital: Paris President: Emmanuel Macron Currency: Euro
Health Ministry organized G20 co-branded event titled 'Health of Youth-Wealth of Nation' in New Delhi
 Health Ministry in collaboration with the Partnership for Maternal, Newborn, Child Health, Geneva is
organizing a G20 co-branded event titled 'Health of Youth-Wealth of Nation' in New Delhi.
 This global gathering aims to highlight the health and well-being needs of 1.8 billion adolescents and
youth worldwide and to foster increased attention and investment by G20 nations in the health of
adolescents and youth.
 The event will feature two technical sessions focusing on adolescent health and well-being and multi-
sectoral partnerships for youth engagement. Additionally, a town-hall session will encourage the
participation of young people in policymaking.
 A Marketplace will also be held to share knowledge, best practices, and innovative policies and
programs that have advanced the health and well-being of adolescents and youth in G20 countries.
 One of the objectives of the G20 co-branded event is to empower youth as change-makers in society,
as well as foster dialogue and engagement among policymakers, and youth icons from G20 nations.
Learn Along:
About G20
 Founded: 26 September 1999 Chairman (Incumbent): Narendra Modi, Prime Minister of India
Union Home Minister and Minister of Cooperation Amit Shah inaugurates CREDAI Garden-People’s
Park
 On the auspicious occasion of Jagannath Rath Yatra, Union Home Minister and Minister of
Cooperation, Amit Shah participated in Mangala Aarti and took blessings of Mahaprabhu at
Jagannath Temple in Ahmedabad.
 Amit Shah inaugurated various development works and also performed Bhoomipujan in Ahmedabad.
 The Union Home Minister and Minister of Cooperation inaugurated the newly constructed park at New
Ranip by Ahmedabad Municipal Corporation (AMC), the newly constructed Jagatpur Railway
Monthly BeePedia
June 2023
flyover at a cost of Rs 67 crore by AMC and Railways at Chandlodia and People’s Park at CREDAI
Garden.
 CREDAI has constructed People’s Park in 12,000 square meters at a cost of about Rs 2.5 crore.
Learn Along:
About Gujarat
‘Rani Durgavati Gaurav Yatra’ in Madhya Pradesh
 Shivraj Singh Chouhan-led BJP government in Madhya Pradesh launched the six-day Rani Durgavati
Gaurav Yatra.
 The yatra started from Balaghat, Chhindwara, Singrampur, Dhauhani, and Kalinjar Fort.
 The yatra aims to connect with the tribal population ahead of the upcoming state elections.
Learn Along:
 Rani Durgavati was a queen known for her courage and sacrifice in fighting against Mughal emperor Akbar and
his commander Asaf Khan.
 She ruled the kingdom of Garha-Katanga with great vigor and courage after being widowed.
 The Mughals attacked Garha-Katanga, and Rani Durgavati fought bravely but eventually sacrificed herself to
avoid surrendering.
 Capital: Bhopal Chief minister: Shivraj Singh Chouhan Governor: Mangubhai C. Patel
Amit Shah laid foundation stone of ‘Balidan Stambh’ in Srinagar
 Union Home Minister and Minister of Cooperation, Amit Shah laid the foundation stone of the ‘Balidan
Stambh’ in Srinagar, an enduring symbol of courage.
 The foundation stone of the ‘ Balidan Stambh’ was laid at Pratap Park in Srinagar.
 The ‘Balidaan Stambh’ project is a part of Srinagar Smart City and it pays tribute to the martyrs who
made supreme sacrifices for the country.
Summit for New Global Financing Pact kicked off in Paris, France
 The Summit for a New Global Financing Pact kicked off in Paris, France with more than 300
participants from various sectors.
 French President Emmanuel Macron called for more funding to meet the challenges of poverty,
biodiversity, and climate.
 France organized the Summit on 22 and 23 June 2023 to meet the common challenges relating to our
planet and development.
 The participants discussed climate change-related financing issues through six round tables,
including overhauling the international financial architecture, restoring confidence, forging partnerships
for strategies, and creating a conducive environment for the private sector.
Learn Along:
About France
Capital: Paris President: Emmanuel Macron
Helen Keller’s Day Celebrated on 27th June
Monthly BeePedia
June 2023
 Helen Keller Day is celebrated on June 27 annually to commemorate the birth of Helen Keller, who
overcame deafness and blindness to achieve her goals.
 The Department of Empowerment of Persons with Disabilities in India observed Helen Keller's Day
on June 27, 2023, with various events at over 50 locations across the country.
 Awareness programs, seminars, workshops, audio-video programs, webinars, sports activities,
and quiz competitions were organized to celebrate Helen Keller's Day.
Adani launches ‘Jeetenge Hum’ campaign for the 2023 Cricket World Cup
 Adani Group launched the 'Jeetenge Hum' campaign in collaboration with the 1983 World Cup
cricket legends to support Team India in the ICC ODI Cricket World Cup 2023.
 Chairman Gautam Adani leads the campaign, encouraging Indian cricket fans to unite and rally behind
Team India with #JeetengeHum on social media.
Indira Gandhi National Centre to organise an exhibition, "Banking on World Heritage”
 Exhibition "Banking on World Heritage" organized by Indira Gandhi National Centre for the Arts
(IGNCA).
 Exhibition displays banknotes depicting UNESCO World Heritage sites.
 Dates: June 30th –July 9th, 2023.
 Theme: "Vasudhaiva Kutumbakam" or "One Earth One Family One Future"
Defence Research and Development Organisation (DRDO) organized an 'Anusandhaan Chintan

Shivir'
 Defence Research and Development Organisation (DRDO) organized an 'Anusandhaan Chintan

Shivir' in New Delhi on June 27, 2023, to promote Defence R&D within the industry and academia.
 Chief of Defence Staff General Anil Chauhan was the Chief Guest at the event.
 DRDO released a list of 75 technology priority areas, which further divided into 403 technological
categories and 1,295 technology development tasks.
 The priority areas include additive manufacturing, aerodynamics, AI/ML technology, autonomous
systems, cyber security, missile systems, quantum technologies, space technologies, UAVs, and
more.
 The unveiling of the technology priority areas aims to encourage indigenous innovation and self-
reliance in defence technologies.
Learn Along:
About DRDO
Date founded: 1958 Headquarters: New Delhi Chairman: Sameer V Kamath
PM Narendra Modi welcomes video release of "Abundance in Millets" song
 Prime Minister Narendra Modi welcomed the release of the "Abundance in Millets" song.
 The song is a collaboration between Grammy Award-winning singer Falguni Shah and Prime
Minister Modi.
Monthly BeePedia
June 2023
 The song promotes millets as a super grain that can help minimize world hunger.
 The year 2023 has been designated as the International Year of Millets following a proposal by India.
 The proposal was endorsed by the Food and Agriculture Organization (FAO) and the 75th Session
of the UN General Assembly.
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About FAO
Founded: 16 October 1945 Headquarters: Rome, Italy Director-General: Qu Dongyu
AWARDS AND REWARDS

Priya A.S. gets Kendra Sahitya Akademi Award for children’s literature
 Writer Priya AS has won the Kendra Sahitya Akademi's Bal Sahitya Puraskar for 2023.
 Her novel "Perumazhayathe Kunjithalukal" won her the prize.
 She previously received the Kendra Sahitya Akademi Award for translating Arundhati Roy's "The God
of Small Things."
Learn Along:
About Sahitya Akademi Award
 The Sahitya Akademi Award is a literary honour in India, which the Sahitya Akademi, India's National Academy of
Letters, annually confers on writers of the most outstanding books of literary merit published in any of the 22
languages of the 8th Schedule to the Indian constitution as well as in English and Rajasthani language.
 First awarded:1954
PRESIDENT OF INDIA PRESENTS NATIONAL FLORENCE NIGHTINGALE AWARDS - 2022 AND 2023
 The President of India, Smt Droupadi Murmu presented the National Florence Nightingale Awards
for the years 2022 and 2023 to the Nursing professionals at a function held at Rashtrapati Bhavan today
(June 22, 2023).
 The National Florence Nightingale Award was instituted by the Ministry of Health and Family Welfare,
Government of India in the year 1973 as a mark of recognition for the meritorious services rendered by
the nurses and nursing professionals to the society.
Below is the List:
Monthly BeePedia
June 2023
Monthly BeePedia
June 2023
NTPC gets recognized as Team Marksmen’s "Most Preferred Workplace of 2023-24"
 NTPC Ltd., the country's largest power generator, has been honoured with the prestigious title of "Most
Preferred Workplace of 2023-24" by Team Marksmen.
 The award recognizes NTPC's exceptional performance in various key areas, including Organizational
Purpose, Employee Centricity, Growth, Recognition & Rewards, Intrapreneurial Culture, Work-life
Balance, Diversity, Equality & Inclusion, Safety, and Trust.
 The awards, conducted by Team Marksmen in association with India Today and Business
Standard, are the result of a comprehensive consumer study conducted across the industry.
Learn Along:
About NTPC Ltd.
Founded: 7 November 1975 Headquarters: New Delhi, India
Sahitya Akademi announced list of recipients of Bal Sahitya Puraskar & winners of Yuva Puraskar
 The Sahitya Akademi has announced a list of 22 recipients of its Bal Sahitya Puraskar and 20
winners of its Yuva Puraskar for this year.
 In the Hindi language category, Suryanath Singh won the Bal Sahitya Puraskar for his collection of
short stories, ‘Kotuk App’.
Monthly BeePedia
June 2023
 In Marathi language, Eknath Avhad has won the Bal Sahitya Puraskar for his ‘Chhand Dei Aanand’
while Vishakha Vishwanath has won the Yuva Puraskar for ‘Swatahala Swataviruddh Ubhe
Kartana’. Renowned children’s author Sudha Murty won Bal Sahitya Puraskar for her collection of
stories titled ‘Grandparents’ Bag of Stories’.
 Prominent among Yuva Puraskar awardees are Anirudh Kanisetti for ‘Lords of the Deccan: Southern
India from Chalukyas to Cholas' and Atul Kumar Rai for his novel ‘Chandpur ki Chanda’.
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About Sahitya Akademi
 The Sahitya Akademi, India's National Academy of Letters, is an organisation dedicated to the promotion of
literature in the languages of India.
Founded: 12 March 1954 Headquarters: Rabindra Bhawan, Delhi President: Chandrashekhara Kambara
Dr. K. Venugopal bags IMA award
 Dr. K. Venugopal, chief consultant in respiratory medicine at General Hospital, Alappuzha, has been
selected for an award instituted by the Indian Medical Association (IMA) to commemorate National
Doctors’ Day on July 1.
 Dr. Venugopal was selected under the category of community service.
 He will receive the award at a function to be held at IMA headquarters in New Delhi on July 1.
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About Indian Medical Association
 The Indian Medical Association is a national voluntary organisation of physicians in India.
 It was established in 1928 as the All India Medical Association, and was renamed the Indian Medical Association
in 1930.
 It is a society registered under The Societies Act of India.
World Bank president Ajay Banga named in 2023 list of Great Immigrants
 Ajay Banga, the president of the World Bank, has been named in the annual "Great Immigrants" list
by the Carnegie Corporation of New York.
 He is the first-ever Indian American to lead the World Bank.
 Banga has over 30 years of experience and is expected to introduce transformative policies to combat
poverty and address climate change.
 Ajay Banga has received several honors, including the Padma Shri Award by the President of India
and the Ellis Island Medal of Honor.
 The Carnegie Corporation of New York honors naturalized citizens who have enriched and
strengthened America and its democracy.
 This year's list includes individuals from 33 countries who have made contributions in various fields
such as education, philanthropy, and public service.
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About World Bank
Established: July 7, 1944 Headquarters: Washington, D.C., U.S
Kolkata teen won ‘Best Diplomat’ award in Dubai
Monthly BeePedia
June 2023
 K. Adhyaa, a 15-year-old student of Modern High School for Girls in Kolkata has won the ‘Best Diplomat’
award at the Best Diplomats in Dubai.
 She was among the youngest in the 162 delegates from over 60 countries who participated in the
global event by a diplomatic simulation organiser headquartered in New York.
 During the event, Ms. Adhyaa made a presentation on the role of Artificial Intelligence (AI) for
development of Afghanistan, participated in a negotiation session and discussed key issues around the
globe such as global warming and campaigned for trans-national transfer of technology.
Shalini Singh became first female NCC cadet to complete mountaineering course in Himalayan region
 Shalini Singh made history as she completed the mountaineering course in the Himalayan area of
Uttarakhand as the country’s first female NCC cadet.
 Shalini was enlisted in the 67 UP battalion after passing the required basic mountaineering course.She
started her one-month course on April 26.
 Shalini was the only female cadet on the 45 NCC cadets who made up the team for the expedition.
President Droupadi Murmu conferred Suriname’s highest civilian award
 President Droupadi Murmu , who is on a three-day visit to Suriname, was conferred with the highest
civilian award of the country, the Grand Order of the Chain of the Yellow Star.
Learn Along:
About Suriname
Capital: Paramaribo Currency: Surinamese dollar
BEST Undertaking receives 'Climate And Health' award at UITP Awards 2023 in Barcelona
 The Brihanmumbai Electric Supply and Transport (BEST) Undertaking was honored with the
prestigious 'Climate And Health' award at the UITP Awards 2023 function held in Barcelona.
 Additionally, BEST was recognized as one of the top three finalists in the 'Public And Urban Transport
Strategy' category.
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UITP Awards: Celebrating Global Excellence in Public Transport
 UITP (Union Internationale des Transports Publics), a 138-year-old organisation, serves as the global association
for public transport stakeholders and sustainable transport modes.
 The UITP Awards are highly sought-after prizes in the field of public transport, and this year's winners were
selected by a distinguished international jury panel consisting of 21 members.
Geological Survey of India Training Institute (GSITI), Hyderabad got Accredited as “Athi Uttam”
 The Geological Survey of India Training Institute (GSITI) functioning under the Ministry of Mines, has
been awarded with the accreditation by the National Accreditation Board of Education and Training
(NABET) in recognition of the yeomen services it has rendered and high standards maintained in the field
of earth science training.
 The assessment was made on the basis of the inspection of all standard operating procedures and
methodologies followed by the institute in different levels.
Monthly BeePedia
June 2023
 The team from Capacity Building Commission (CBC), NABET and Quality Control of India
conducted the on-site assessment and awarded the Certificate of Accreditation with the grading of Athi
Uttam.
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 Established in 1976, GSITI with its headquarters at Hyderabad, has six Regional Training Divisions (RTD) located
at Hyderabad, Nagpur, Jaipur, Lucknow, Kolkata and Shillong.
 GSITI provides domain specific and terrain specific training programmes through its Center at Hyderabad and
RTDs and FTCs located across the country.
WHO Award for ‘When Climate Change Turns Violent’
 A documentary titled ‘When Climate Change Turns Violent’ has won a special prize in the ‘Health for
All’ category at the 4th Annual Health for All Film Festival held at the World Health Organization
headquarters in Geneva.
 The documentary has been directed by Vandita Saharia of Rajasthan. She was the only Indian among
the winners.
 The 4.32-minute documentary ‘When Climate Change Turns Violent’ focuses on the relationship
between domestic violence, climate change and human trafficking.
Learn Along:
About World Health Organization (WHO)
 It is an intergovernmental organization that usually works in collaboration with the ministries of health of its
member states.
 Establishment: 1948 (Started functioning from 7th April, 1948)
 Headquarters: Geneva, Switzerland
 Member: 194 countries
Chennai-Based Child Rights Advocate Won US' Iqbal Masih Award
 Chennai-based lawyer-activist Lalitha Natarajan has been awarded the 2023 Iqbal Masih Award for the
Elimination of Child Labour.
 US Consul General Judith Ravin presented the award to Natarajan at a ceremony at the US Consulate
General in Chennai on May 30.
 Ms Natarajan has worked throughout her career as a lawyer and activist to apply rights-based
approaches to child labour.
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 The Iqbal Masih Award is a US Congress-mandated, non-monetary award established by the Secretary of Labor
in 2008 that honours extraordinary contributions to combat child labour.
 The award commemorates World Day Against Child Labour which is observed on June 12 every year to raise
awareness and activism to prevent child labour
Padma Awardees From Haryana To Get ₹ 10,000 Monthly
 Haryana Chief Minister Manohar Lal Khattar announced a monthly pension of ₹ 10,000 for the Padma
awardees from the state.
Monthly BeePedia
June 2023
 Besides the monthly pension, the chief minister has also announced a free travel facility in the 'Volvo
bus' service of the state government for Padma Shri, Padma Bhushan and Padma Vibhushan
awardees from Haryana.
 The government is also considering including the families in this scheme whose annual income is also
between ₹ 1.80 lakh and ₹ 3 lakh by taking some premium amount to give them a benefit of up to ₹ 5
lakh.
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Chief minister: Manohar Lal Khattar Governor: Bandaru Dattatreya Capital: Chandigarh
Gita Press, Gorakhpur, awarded Gandhi Peace Prize for 2021
 The Gandhi Peace Prize for 2021 will be conferred on Gita Press, Gorakhpur, one of the largest
publishers of religious texts such as the Bhagavad Gita, the Ramayana and the Upanishads.
 The decision to confer the award on Gita Press was taken by a jury headed by Prime Minister Narendra
Modi in recognition of the publishing house’s “outstanding contribution towards social, economic
and political transformation through non-violent and other Gandhian methods.
Learn Along:
About Gandhi Peace Prize
 The annual Gandhi Peace Prize was instituted in 1995 on the occasion of the 125th birth anniversary of Mahatma
Gandhi.
 The award carries an amount of ₹1 crore, a citation, a plaque and an exquisite handicraft or handloom item.
 The previous awardees include organisations such as the Indian Space Research Organisation, Ramakrishna
Mission, Grameen Bank of Bangladesh, Vivekananda Kendra, Kanyakumari and Sulabh International, New
Delhi.
 It has also been awarded to former President of South Africa Nelson Mandela, social worker Baba Amte,
Archbishop Desmond Tutu of South Africa, environmentalist Chandi Prasad Bhatt and Bangabandhu Sheikh
Mujibur Rahman of Bangladesh.
About Geeta Press
 Gita Press is one of the world’s largest publishers, having published 41.7 crore books in 14 languages,
including 16.21 crore Bhagavad Gita. It completes 100 years of its establishment in 2023.
 The institution’s main objective is to “promote and spread the principles of Sanatana Dharma, the Hindu
religion among the general public by publishing Gita, Ramayana, Upanishads, Puranas, Discourses of eminent
Saints and other character-building books and magazines and marketing them at highly subsidised prices.
VICE PRESIDENT PRESENTS NATIONAL WATER AWARDS IN NEW DELHI: MP TOPS IN BEST STATE
CATEGORY
 Vice President Jagdeep Dhankhar conferred the fourth National Water Awards in New Delhi on June 17.
 The Jal Shakti Ministry had announced a total of 41 winners, covering 11 categories, including joint winners, for
the National Water Awards, 2022.
 Madhya Pradesh was awarded the first prize in the best State category.
 In the best district category, the award was given to the Ganjam District of Odisha.
 The best Village Panchayat award was presented to Jagannadhapuram Village Panchayat, Bhadradri
Kothagudem district of Telangana.
 Each award winner was conferred with a citation and a trophy as well as cash prizes.
Learn Along:
 The Ground Water Augmentation Awards and National Water Awards were launched in the year 2007 with an
objective to encourage all stakeholder including the Non- Governmental Organizations (NGOs), Gram
Monthly BeePedia
June 2023
Panchayats, Urban Local Bodies, Water User Associations, Institutions, Corporate Sector, Individuals etc.
for adopting innovative practices of ground water augmentation by rainwater harvesting and artificial recharge,
promoting water use efficiency, recycling & re-use of water and creating awareness through people's participation in
the targeted areas resulting into the sustainability of ground water resources development, adequate capacity
building amongst the stakeholders etc.
Ramachandra Guha’s book Won Elizabeth Longford Prize
 Historian and writer Ramchandra Guha’s book Rebels Against the Raj: Western Fighters for India’s
Freedom has won the Elizabeth Longford Prize for Historical Biography 2023.
 Guha has been awarded £5,000 (₹5 lakhs approximately) and a bound copy of Elizabeth Longford’s
memoir, The Pebbled Shore.
 The Bengaluru-based historian’s book tells the story of seven foreigners — four British, Two American,
and one Irish — who joined India’s freedom fight against British rule.
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 The award was founded in 2003 by Flora Fraser and Peter Soros to commemorate British historian Elizabeth
Longford. Every year it rewards exemplary works in historical biography.
 The prize is celebrating its 20th anniversary this year.
 Previous winners of the award include The Long Recessional: The Imperial Life of Rudyard Kipling by David
Gilmour, How to Survive the Titanic: The Sinking of J. Bruce Ismay by Frances Wilson, Margaret Thatcher:
The Authorized Biography, Volume 1: Not for Turning by Charles Moore and Julian Jackson’s A Certain Idea
of France: The Life of Charles de Gaulle.
 The book has been published by Penguin Random House in India, William Collins in the U.K., and Alfred
Knopf in the USA. Guha tweeted expressing gratitude to all the editors and publishers.
Arundhati Roy won 45th European Essay Prize for 'Azadi'
 Writer and activist Arundhati Roy has been awarded the 45th European Essay Prize for lifetime
achievement on the occasion of the French translation of her latest essay, 'Azadi'.
 Arundhati Roy uses the essay as a form of combat, analysing fascism and the way it is being structured.
 The award ceremony will take place on September 12 at the Lausanne Palace, where she will give a
lecture.
APPOINTMENTS
Organization/Country/ News Learn Along
States...
Solar Energy Corporation Shri Ajay Yadav, a 2005 batch IAS officer of the Bihar cadre has SECI is a
of India Limited assumed the charge of Managing Director, Solar Energy Miniratna
Corporation of India Limited (SECI). Category-I
Central Public
Sector Enterprise
(CPSE)
incorporated in
the year 2011
Monthly BeePedia
June 2023
Mangalore Refinery and Sanjay Varma has taken charge as managing director Founded:
Petrochemicals Limited (additional charge) of Mangalore Refinery and 7 March 1988
Petrochemicals Limited (MRPL) following an order issued by the Headquarters:
Ministry of Petroleum and Natural Gas. Mangaluru
Steel Authority of India Amarendu Prakash has taken charge as the new Chairman and Founded:
Ltd Managing Director of Steel Authority of India Ltd (SAIL) from
May 31. 24 January 1973
Chairman
He was previously the Director (In-charge) of SAIL’s Bokaro
steel plan. Shri Amarendu
Prakash
World Bank Indian American Ajay Banga took over as the President of the Headquarters:
World Bank, making him the first person of colour to head either Washington, D.C.,
of the two global financial institutions, the World Bank and the United States
International Monetary Fund.
Founded:
July 1944
Ace Turtle Omni Pvt Ltd Ace Turtle Omni Pvt Ltd., a retail company, has appointed Indian CEO :
cricketer Smriti Mandhana as the brand ambassador of its
Wrangler brand. The company is the exclusive licensee of the Nitin Chhabra
denim brand in India.
Competition Commission The government has extended the tenure of Atul Verma as the Founded:
of India Director General of the Competition Commission of India (CCI)
for three months. 14 October 2003
Headquarters:
The Director General (DG) office is the investigation arm of the
New Delhi
fair trade regulator.
Chairperson
Ravneet Kaur
Geological Survey of Janardan Prasad has been appointed as the new Director Founded:
India General of the Geological Survey of India (GSI).
4 March 1851
Mr. Janardan Prasad, who took charge of the 174-year-old Headquarters:
institution on June 1, succeeds Dr. S. Raju, who has held the post Kolkata, West
since April 2022. Bengal
TransUnion CIBIL TransUnion CIBIL has announced the appointment of Mr. V ---
Anantharaman as non-executive chairman.
Container Corporation of Sanjay Swarup will be the new Chairman & Managing Director Founded:
India (CONCOR) (CMD) of Container Corporation of India (CONCOR). It is a PSU
March 1988
working under the Ministry of Railways.
Headquarters:
He is currently serving as Director (International Marketing & New Delhi
Operations) in the same organisation.
Monthly BeePedia
June 2023
International Air IndiGo announced that its CEO, Pieter Elbers, has been elected Founded:
Transport Association as the chair-elect of the International Air Transport Association
(IATA) Board of Governors. 19 April 1945
Headquarters:
He will succeed present Chair, Yvonne Manzi Makolo, the CEO
of Rwandair with effect from June 2024. Montreal, Canada
Unique Identification Senior IAS officers Amit Agrawal and Subodh Kumar Singh About UIDAI
Authority of India have been appointed as CEO Unique Identification Authority
of India and director general of the National Testing Agency, Headquarters:
&
National Testing Agency respectively. New Delhi
Founded:
28 January 2009
About NTA
Founded:
November 2017
International Air IndiGo CEO Pieter Elbers has been elected as the chair-elect of Founded:
Transport Association the International Air Transport Association (IATA) Board of
19 April 1945
Governors.
Headquarters:
Effective June 2024, he will succeed present Chair, Yvonne
Montreal, Canada
Manzi Makolo, the CEO of Rwandair.
NHPC Ltd The government has appointed Uttam Lal as Director Founded: 7
(Personnel) at state-run hydropower company NHPC Ltd. November 1975
Prior to his appointment at NHPC, he was serving as Chief Headquarters:

General Manager (HR-CSR/R&R/LA) at NTPC Limited. Faridabad, India
Axis Bank Axis Bank has appointed former deputy governor of Reserve Axis Bank
Bank of India (RBI) N S Vishwanathan as non-executive chairman
Registered Office:
of the bank for three years with effect from October 27.
Ahmedabad
Vishwanathan joined RBI in 1981 and retired in March 2020 as a Corporate Office:
Deputy Governor where he handled portfolios including Mumbai
regulation.
MD &CEO:
Amitabh Chaudhry
Hinduja Group Gopichand Hinduja has taken over as chairman of the $34.5 Hinduja Group
billion-worth Hinduja Group following the death of his brother,
Headquarters:
Srichand Hinduja last month. Mumbai
Gopichand Hinduja, who was the co-chairman of the Hinduja Founder:

Group, oversees a diverse global business empire that spans Parmanand Hinduja
Monthly BeePedia
June 2023
several sectors such as automotive, oil and specialty

chemicals, infrastructure, and power.
Equitas Small Finance The Reserve Bank of India has approved the re-appointment of P Equitas Small
Bank N Vasudevan as the managing director (MD) and chief Finance Bank
executive officer (CEO) of Equitas Small Finance Bank (SFB) Headquarters:
for a three-year term. Chennai
The reappointment is with effect from July 23, 2023. MD & CEO:
Vasudevan P N
United Kingdom The UK announced the appointment of senior diplomat Jane Capital: London
Marriott as the next British High Commissioner to Pakistan,
making her the first female British envoy to Islamabad.
1988 batch Chhattisgarh cadre IPS officer Ravi Sinha will be the Founded:
new chief of Research and Analysis Wing.
Research and Analysis 21 September
Wing The Appointments Committee of Cabinet approved the 1968
appointment Mr Sinha for a period of two years.
Headquarters:
New Delhi
Indraprastha Gas Ltd Kamal Kishore Chatiwal took over as the new managing director Founded
of Indraprastha Gas Ltd (IGL), the largest CNG distribution
1998
company in the country.
Headquarters
New Delhi
Reserve Bank of India The Appointments Committee of the Cabinet has selected State Founded:
Bank of India MD Swaminathan Janakiraman for the post of a
Deputy Governor in the Reserve Bank of India. 1 April 1935
He will have a tenure of three years from the date of joining or

hold the post till further orders, whichever is earlier. Governor:
Shaktikanta Das
He will succeed Deputy Governor M.K. Jain whose tenure will
end this month.
Unique Identification Senior Indian Administrative Service (IAS) officer Shri Amit Founded:
Authority of India Agrawal assumed charge as the Chief Executive Officer (CEO) of
28 January 2009
Unique Identification Authority of India (UIDAI).
Headquarters:
New Delhi
Monthly BeePedia
June 2023
GIFT (Gujarat Former Union Finance Secretary and retired Gujarat cadre ---
bureaucrat Hasmukh Adhia, who is principal advisor to chief
International Finance
minister Bhupendra Patel has been appointed as chairman of
Tec) City, GIFT (Gujarat International Finance Tec) City, and as
Gujarat Alkalies and Chairman and Director of the Vadodara based Gujarat
Chemicals Ltd (GACL), Alkalies and Chemicals Ltd (GACL) and the Chairman and
Director of the Gujarat Mineral Development Corporation
Gujarat Mineral
(GMDC).
Development Corporation
BRICS Ruby Sinha succeeds Shabana Nasim, who has been Founded:
designated the Executive Director of BRICS CCI and Chief
Patron of BRICS CCI WE. 16 June 2009
The BRICS Chamber of Commerce and Industry (BRICS CCI) has

appointed her to a three-year term as president of BRICS CCI
WE, the organization's women's vertical.
Alibaba Group Alibaba announced a major leadership reshuffle, with CEO and Founded:
Chairman Daniel Zhang planning to step down this year and be
replaced by veterans at the Chinese tech giant. 4 April 1999
Eddie Yongming Wu will become CEO, while Joe Tsai will take
over as chairman on Sept. 10. Headquarters:
The two executives are Alibaba veterans and close confidant of Hangzhou, China
Alibaba’s billionaire founder Jack Ma.
The Indian Economic The Indian Economic Trade Organization (IETO) has recently Headquarters:
Trade Organization announced the appointment of Nutan Roongta as the Director Bengaluru
of the USA East Coast Chapter.
Founded: 2013
DBS Bank DBS Bank India has appointed Rajat Verma as managing Founded:
director and head of institutional banking for India.
16 July 1968
Headquarters:
Singapore
Chhattisgarh T.S. Singh Deo has been elevated as Deputy Chief Minister in Capital
Chhattisgarh by the Congress high command.
Raipur
Chief minister:
Bhupesh Baghel
Governor:
Biswabhusan
Harichandan
United Nations United Nations Secretary-General António Guterres announced Founded:

the appointment of Mr. Haoliang Xu as Under-Secretary-General
24 October 1945
and Associate Administrator of the United Nations
Development Programme (UNDP). Headquarters:
New York, United
States
Monthly BeePedia
June 2023
Secretary
general:
António Guterres
IMPORTANT DAYS
Monthly BeePedia
June 2023
OBITUARIES
Name of Person Field Points to Remember
Ved Kumari Sanskrit scholar Noted Sanskrit scholar Ved Kumari Ghai has passed away
recently.
Ama Ata Aidoo Writer Ama Ata Aidoo, the iconic Ghanaian writer whose classics The
Dilemma of a Ghost and Changes were taught to children in West
African schools for decades, has died aged 81.
Her first work, The Dilemma of a Ghost, a play, was published

in 1965, making her the first African woman to publish a play. She
went on to become one of the continent’s best-known writers,
inspiring a generation of younger authors, artists and feminists.
Sulochana Latkar Actor A veteran actor and important link with the golden age of Hindi
and Marathi cinema, Sulochana Latkar, passed away in Mumbai
at 94 from age-related complications.
Gufi Paintal Actor Gufi Paintal, best known for playing 'Shakuni mama' in the epic
TV serial "Mahabharat", died in Mumbai due to age-related
issues. He was 79.
Sulochana Latkar Actor Veteran actress Sulochana Latkar, who has been a part of films
like Shree 420, Nagin, Ab Dilli Dur Nahin and Mr and Mrs, died on
June 4, at a hospital in Mumbai. She was 94 years old.
Gitanjali Aiyar Anchor One of the finest news anchors that the country has seen,
Gitanjali Aiyar, passed away in Delhi .
One of the prominent faces of Doordarshan’s prime-time news for

decades, Gitanjali, like many of her contemporaries on the public
broadcaster, brought grace and dignity to television news.
Soldier Alby Defence Soldier Alby D’Cruz (87), the first recipient of the Ashoka Chakra
D’Cruz from Kerala, passed .
He was working in Assam Rifles in the communication

department. The state honored him with the Ashoka Chakra for
his extraordinary bravery during the civil war with the Naga
rebels who demanded an independent Nagaland in 1960.
Cormac McCarthy Writer Cormac McCarthy, whose nihilistic and violent tales of the
American frontier and post-apocalyptic worlds led to awards,
movie adaptations and sleepless nights for his enthralled and
appalled readers, died at the age of 89.
Glenda Jackson Actor Double Oscar-winning actress Glenda Jackson has died aged
87 after a brief illness.
Glenda won the Oscar for best actress in 1970 for Women In
Love, and again three years later for A Touch Of Class. She also
Monthly BeePedia
June 2023
won a Bafta for best actress in 2019 for her role in Elizabeth Is
Missing, which followed the story of a woman suffering from
dementia.
Daniel Ellsberg U.S. military analyst Daniel Ellsberg, the U.S. military analyst whose change of heart
on the Vietnam War led him to leak the classified "Pentagon
Papers," revealing U.S. government deception about the war and
setting off a major freedom-of-the-press battle, died at the age of
92.
Daniel Ellsberg U.S. military analyst Daniel Ellsberg, the U.S. military analyst whose change of heart
on the Vietnam War led him to leak the classified "Pentagon
Papers," revealing U.S. government deception about the war and
setting off a major freedom-of-the-press battle, died at the age of
92.
Kausar Rizvi Urdu newsreader The former Urdu newsreader of Akashvani, Kausar Rizvi passed
away in Dubai today. He was 79.
Kausar Rizvi was associated with the Urdu unit of the News
Services Division of Akashvani in New Delhi for about 30 years
from 1975 to 2004.
Hardwar Dubey Politician BJP Rajya Sabha MP Hardwar Dubey passed away.
John Bannister Science John Bannister Goodenough, the American co-inventor of

Goodenough Lithium-ion batteries and a co-winner of 2019 Nobel prize for
Chemistry, has passed away.
British-American scientist Stan Whittingham, who shared the

Nobel prize with Goodenough, was the first to reveal that
lithium can be stored within sheets of titanium sulphide.
Then US President Barack Obama presenting the National Medal

of Science award to John Goodenough at the White House in
February, 2013.
In 2008, Goodenough wrote his autobiography, Witness to

Grace, which he called “my personal history”.
BOOKS
Book Title Author/s About the book
NTR : A Political Ramachandra Murthy In the year of N.T. Rama Rao's birth centenary in 2023, this is
Kondubhatla a comprehensive political biography that traces his journey
Biography
from a remote Andhra village to the forefront of the national
stage via a thriving career in Telugu films.
Monthly BeePedia
June 2023
RINGSIDE – Up, Dr Vijay Darda A book titled, “RINGSIDE – Up, Close and Personal on India
Close and Personal and Beyond” was released by renowned author Dr Shashi
on India and Tharoor on May 30, 2023.
Beyond” This book was written by Chairman of the Editorial Board of
Lokmat Media Group and former MP Dr Vijay Darda.
It is a captivating compilation of Darda’s weekly articles, which

were published in the Lokmat Media Group newspapers and
other prominent national and regional dailies of the country
between 2011 and 2016.
Kathakali Dance --- KK Gopalakrishnan has recently released a captivating book

Theatre: A Visual titled "Kathakali Dance Theatre: A Visual Narrative of
Sacred Indian Mime."
Narrative of Sacred
Indian Mime The book offers a behind-the-scenes look into the world of
Kathakali, focusing on the green room, artists' struggles, and
the unique bonds forged during long make-up hours.
The Future in the Romila Thapar The Future in the Past: Essays and Reflections, a collection of
Past: Essays and essays by eminent historian Romila Thapar, is a reminder of
Reflections the perils of living through such times.
It shows just how, by engaging with the past non-critically

and selectively, societies may look to manufacture glory
and national pride but instead end up destroying their
historical legacy.
The Power of One BK Shivani HarperCollins India is thrilled to present a valuable source
Thought of inspiration: BK Shivani’s book, “The Power of One
Thought: Master Your Mind, Master Your Life.” This
empowering guide, set to release on July 10th, offers
practical advice and techniques to harness the power of
the mind and manifest the life of your dreams.
‘Ajay to Yogi Shantanu Gupta Noted author, Shantanu Gupta, launched his new graphic
novel – ‘Ajay to Yogi Adityanath’ for the young readers in
Adityanath’ Lucknow to mark the 51st birthday of Uttar Pradesh Chief
Minister Yogi Adityanath.
The graphic novel was launched in more than 51 schools of

Uttar Pradesh.
Shantanu Gupta has written two bestselling titles on Yogi

Adityanath- ‘The Monk Who Became Chief Minister’ and
‘The Monk Who Transformed Uttar Pradesh’.
Through the T.N. Seshan In his autobiography, Through the Broken Glass, Seshan
Broken Glass: An brings to light his years of struggles to usher in a new era
of electoral reforms in India. Not the one to mince words and
Autobiography
Monthly BeePedia
June 2023
Seshan’s devil-may-care attitude and righteous self-awareness

took even the Union governments by surprise.
CHAOS KINGS: Scott Patterson Written by a veteran Wall Street Journal reporter, this is a
fascinating deep dive into the world of billion-dollar traders
How Wall Street
and high-stakes crisis predictors who strive to turn extreme
Traders Make
Billions in the New events into financial windfalls.
Age of Crisis
India’s Finance A K Bhattacharya ---
Ministers: From
Independence to
Emergency (1947-
1977)
The Earth Peter Frankopan ---
Transformed: An
Untold History
Where the money Adam Seessel From a successful investor and a contributor to Barron’s and
is: Value investing Fortune comes a once-in-a-lifetime book that gives modern
in the digital era investors what they need most: a fresh guide to making
money in a stock market now dominated by tech stocks.
The World Elizabeth C Economy The World According to China by Elizabeth Economy is one
According to China of the few books to offer an insight into how China is
challenging international norms, painting a vivid picture of
China’s grand ambitions under Mr Xi.
SPORTS
Hockey: India lift Men’s Junior Asia Cup for fourth time, defeating Pakistan in Oman
 In Hockey, the Indian hockey team defeated Pakistan in the final of the Men's Junior Asia Cup 2023
at the Sultan Qaboos Youth Complex Stadium in Salalah, Oman.
 With this title win, India become the most successful country in the history of the Men's Junior Asia
Cup.
 This was India’s fourth title at Men's Junior Asia Cup, having won it previously in 2004, 2008 and 2015.
 Pakistan are the second-most successful team in the tournament with three titles but their last win
came 27 years ago in 1996.
Attacking icon Zlatan Ibrahimovic retired from football
 AC Milan's Swedish striker Zlatan Ibrahimovic announced his retirement from football.
Monthly BeePedia
June 2023
 He returned to Milan in late 2019 for a second spell after a previous two-year period in which he won
the Serie A title in 2011.
India won two gold and one bronze in Asian U-20 Athletics Championship
 Fast-rising Rezoana Mallick Heena and Bharatpreet Singh clinched a gold medal each in women's
400m race and men's discus throw respectively to launch India's campaign at the Asian U-20 Athletics
Championship on an emphatic note.
 She had also won a gold in the Asian U-18 Athletics Championships in Tashkent in April.
 Antima Pal won India's third medal of the day -- a bronze -- in the women's 5,000m race.
Sunil Kumar won decathlon gold at Asian U-20 Athletics Championship
 Sunil Kumar clinched the decathlon gold medal at the Asian U-20 Athletics Championship in
Yecheon, South Korea.
 Sunil Kumar won 100m hurdles, discus throw and javelin throw to make up for the below par show in
the other events and secure the gold medal in the gruelling discipline competed over two days.
 In women's high jump, Pooja won a silver. Bushra Khan added another silver in the women's 3000m
race.
Zlatan Ibrahimovic announced retirement from professional football
 After bidding farewell to AC Milan, famous football player Zlatan Ibrahimovic has announced his
retirement from professional football.
 The Swedish footballer has won many domestic leagues and has won many titles individually but
had never won Europe’s elite club competition trophy, the Champions League.
Serbia and USA won FIBA 3x3 World Cup 2023
 Serbia’s men and the United States women won the FIBA 3x3 World Cup 2023, which took place in
Vienna, Austria on May 30 - June 4.
 In the men's category, Serbia extended their historic World Cup heroics, capturing their sixth title in just
8 editions after defeating USA in the final.
 Latvia defeated Brazil to claim the bronze medal.
 In the women’s category, USA took home gold for the third time win against last year’s champions
France.
 In the women’s bronze medal game, Australia defeated China.
Australia crowned 2023 ICC World Test Champions after defeating India
 Australia scripted history on June 11 as they became the first men's team in world cricket to win an
International Cricket Council (ICC) world title in all three formats.
 Australia achieved the feat when they decimated India in the final of the World Test Championship
2021-23 at The Oval to become the new world champions of the longest format of the game.
Monthly BeePedia
June 2023
 Australia won the first-ever 50-over World Cup in 1987 and went on to win 4 more titles, becoming the
most successful side in 50-over World Cups.
 Australia also won the ICC Champions Trophy in 2006, beating the West Indies in the final.
AUSTRALIA'S ICC TITLES (MEN'S CRICKET)
 50-over World Cups: 1987, 1999, 2003, 2007, 2015
 Champions Trophy: 2006, 2009
 T20 World Cup - 2021
 World Test Championship - 2021-23
Novak Djokovic beat Casper Ruud to win 23rd Grand Slam title
 Novak Djokovic created history by winning a record- breaking 23rd Grand Slam title at the French
Open.
 In the summit clash, Djokovic defeated Norway's Casper Ruud to win his third Roland Garros title.
 The 36-year-old surpassed his long-time rival on the court, Rafael Nadal to become the most successful
male tennis player in history.
 The third title in Paris also made Djokovic the only male player to win all the four Grand Slams titles
at least three times, reinforcing his case to be crowned the greatest of all time.
 He now has three French Open titles to add to his 10 Australian Open titles, seven at Wimbledon and
three at the US Open.
French Open: Swiatek beat Muchova, won her third Roland Garros title
 World No.1 Iga Swiatek defended her women's singles title at the French Open 2023, capturing a
second consecutive Roland Garros.
Asia Cup 2023 dates and venues announced after Asian Cricket Council accepts hybrid model
 The Asian Cricket Council (ACC) has announced a hybrid model for the Asia Cup 2023.
 There will be a total of 13 matches with Pakistan hosting four and Sri Lanka hosting the remaining
nine matches.
 Since the Board of Control for Cricket in India, BCCI has ruled out any travel to Pakistan, Team India's
matches will be held in Sri Lanka. India, Pakistan, Sri Lanka, Bangladesh, Afghanistan, and Nepal will
compete in the ODI tournament starting on the 31st of August.
 The final will be held on the 17th of September.
 In Pakistan, matches will be held in Lahore while the games to be played in Sri Lanka will be held in
Kandy and Pallekele.
Ministry of Youth Affairs and Sports increases upper ceiling norms of boarding & lodging for athletes
and team officials by 66%
 The Ministry of Youth Affairs and Sports (MYAS) has revised the upper ceiling amount of boarding
and lodging for Indian Athletes and team officials by 66%.
Monthly BeePedia
June 2023
 This is for the athletes and officials participating only in international competitions, under the Ministry’s
Scheme of Assistance to National Sports Federations (NSFs).
 Under the newly revised norm, athletes and support staff travelling for approved competitions abroad
(foreign exposures) will now be entitled to USD 250 per day, which is an increase of 66% from an earlier
norm of USD 150 per day.
Learn Along:
Ministry of Youth Affairs and Sports Union Minister: Anurag Thakur
Pakistan women cricketer Nahida Khan announces retirement from international cricket
 Pakistan women’s cricketer Nahida Khan announced her retirement from international cricket. The
36-year-old made her debut for the national team back in February 2009, against Sri Lanka. Over a career
that has spanned many years, Nahida has played over 100 matches across formats for Pakistan.
Pakistan women cricketer Nahida Khan announced retirement from international cricket
 Pakistan women’s cricketer Nahida Khan recently announced her retirement from international cricket.
 The 36-year-old made her debut for the national team back in February 2009, against Sri Lanka.
 Over a career that has spanned many years, Nahida has played over 100 matches across formats for
Pakistan.
Bhavani Devi becomes first Indian to win bronze medal at Asian Fencing Championships in China
 Olympian C. A. Bhavani Devi has created history by defeating reigning World Champion Misaki
Emura in the Asian Fencing Championship quarterfinal and securing India its first-ever medal at
the event.
Indian Men's Senior Football Team beat Lebanon 2-0 to clinch Intercontinental Cup in Bhubaneshwar
 Indian men's senior football team clinched the Intercontinental Cup with a victory over Lebanon in
the final at Kalinga Stadium in Bhubaneshwar.
 This is India's second title in the tournament, following their win in the inaugural edition in 2018. Korea
won in 2019.
Goa CM Pramod Sawant launches mascot for upcoming 37th National Games
Monthly BeePedia
June 2023
 Chief Minister of Goa Dr Pramod Sawant launched the

mascot named 'Moga' which represents an Indian bison,
for the upcoming 37th National Games.
 The launch ceremony was held at Dr. Shyama Prasad
Mukherjee Stadium in Taleigao.
 It was organized by the Directorate of Sports and Youth
Affairs and the Sports Authority of Goa and held on the
occasion of the Goa Revolution Day.
Bhavani Devi becomes first Indian fencer to win medal in Asian Championships
 Olympian C.A. Bhavani Devi created history by securing India’s first-ever medal — a bronze — at the
Asian fencing championships in Wuxi, China.
 Bhavani lost to Uzbekistan’s Zaynab Dayibekova in a hard-fought semifinal 14-15 of the women’s
sabre event, but ensured India its maiden medal in the event.
MP clinches men’s junior National hockey title
 Madhya Pradesh defeated Chandigarh in the final of the 13th Hockey India junior men’s National
championship in Rourkela.
 Shreyas Dhupe ,Mohd. Konain Dad and Ali Ahmad found the target for the winner, while Sumit and
Surinder Singh scored for Chandigarh.
 Haryana beat Hockey Association of Odisha to finish third.
Cristiano Ronaldo received Guinness World Record award
 Cristiano Ronaldo has received a Guinness World Record after reaching 200 international caps for
Portugal.
 The legendary forward is making his 200th appearance for A Selecao das Quinas in their Euro 2024
qualifier against Iceland.
 The 38-year-old has broken another record and is the most-capped player in international football.
Indian Men's Senior Football Team beat Lebanon
 Indian men's senior football team clinched the Intercontinental Cup with a victory over Lebanon
in the final at Kalinga Stadium in Bhubaneshwar.
 This is India's second title in the tournament, following their win in the inaugural edition in 2018.
Korea won in 2019.
Bhavani Devi becomes first Indian to win bronze medal at Asian Fencing Championships in China
Monthly BeePedia
June 2023
 Olympian C. A. Bhavani Devi has created history by defeating reigning World Champion Misaki
Emura in the Asian Fencing Championship quarterfinal and securing India its first-ever medal at the
event.
 The Indian fencer stunned the world number one 15-10 to enter the women’s sabre semifinal.
 Bhavani, however, lost to Uzbekistan’s Zaynab Dayibekova in the semifinals, 15-14, securing a
bronze medal.
Jhulan, Knight and Morgan join the MCC World Cricket Committee
 Legendary Indian woman cricketer Jhulan Goswami and two England players — Heather Knight and
Eoin Morgan — have joined the MCC World Cricket Committee (WCC) ahead of its meeting at the
Lord’s.
 The WCC is an independent body comprising of current and former international cricketers,
umpires, and officials from all over the world.
ICC launches CWC Trophy Tour in spectacular fashion
 The ICC Men's ODI World Cup Trophy Tour 2023 has been launched on a stratospheric scale, giving
fans around the world a unique opportunity to interact with the coveted trophy, ahead of the marquee
event in India later this year.
 The Tour was launched in spectacular fashion, with the Trophy being launched into the stratosphere,
120,000 feet above the earth, before making a stunning landing at the Narendra Modi Cricket Stadium
in Ahmedabad.
 The 2023 edition of the Trophy Tour will be the biggest by far, giving the fans a chance to connect
with the coveted piece of silverware in various countries and cities around the globe.
 Starting on June 27, the ICC Men's Cricket World Cup Trophy will travel to 18 countries around the
world, including Kuwait, Bahrain, Malaysia, USA, Nigeria, Uganda, France, Italy, the United States of
America and the host country India, according to an International Cricket Council release.
Special Olympics World Games Berlin 2023
 From 17 to 25 June 2023, the Special Olympics World Games took place in Berlin – the first time that
Germany hosted the Games.
 The Special Olympics World Games are the world's largest inclusive sports event.
 Thousands of athletes with intellectual disabilities compete together in 26 sports.
Table Tennis, Indian women’s doubles pair of Sutirtha and Ayhika clinches WTT Contender
tournament title in Tunis
 The Indian women’s doubles pair of Sutirtha Mukherjee and Ayhika Mukherjee won the World Table
Tennis, ( WTT) Contender tournament in Tunis, after beating the Japanese pair of Miyuu Kihara
and Miwa Harimoto.
Monthly BeePedia
June 2023
 Meanwhile, the Indian mixed doubles pair of Manika Batra and G Sathiyan as well as the men’s
doubles duo of Manav Vikash Thakkar and Manush Utpalbhai Shah had lost their respective
semifinal matches.
FIFA appoints Indonesia as U-17 World Cup host
 Indonesia has been selected by FIFA Council as host of the FIFA U-17 World Cup.
 Indonesia will host the U-17 World Cup that is expected to take place from November 10 to December
2 this year.
Learn Along:
About FIFA
Founded: 21 May 1904 Headquarters: Zürich, Switzerland President: Gianni Infantino
Golfer Diksha Dagar wins record second Ladies European Tour Event title
 Diksha Dagar won the Tipsport Czech Ladies Open on the Ladies European Tour (LET).
 It is her second LET title, with her first win in 2019 and a team win in 2021.
 This win marks her second individual success after four years, three months, and 11 days.
 Diksha is the second Indian to win on the LET, following Aditi Ashok's victory in 2016.
 Diksha has also achieved success at the Deaflympics and participated in the Tokyo Olympics in 2021.
Jhulan Goswami, Heather Knight, Eoin Morgan join MCC World Cricket Committee
 Jhulan Goswami, Heather Knight, and Eoin Morgan have joined the MCC World Cricket Committee
(WCC).
 The WCC is an independent body consisting of current and former international cricketers, umpires,
and officials.
 Jhulan Goswami is a legendary Indian woman cricketer known for her fast bowling. She retired last
year after a two-decade-long career, taking over 300 wickets in white-ball cricket and 44 wickets in Test
matches.
 Heather Knight is the captain of the England women's cricket team.
 Eoin Morgan is the former captain of the England men's cricket team and led them to victory in the
2019 ODI World Cup.
 The addition of these players will bring their valuable knowledge of the elite level of cricket to the
committee.
 The committee aims to increase female representation and already includes Clare Connor and
Suzie Bates.
Kolkata Team Emerged Victorious in Historic Dubai Women's Kabaddi Final, Claims ₹10,000,000
Prize
 Dubai hosted the world's first international Women's Kabaddi final.

 The final match was between Punjab Panthers and Uma Kolkata.
 Uma Kolkata emerged as champions, winning a grand prize of ₹10,000,000.
Monthly BeePedia
June 2023
 Punjab Panthers secured the second position and received a prize of ₹5,000,000.
 The tournament lasted for 12 days and featured eight teams from India representing different states.
 The tournament provided a global platform for Indian women Kabaddi players to showcase their
skills.
 The participating teams represented Delhi, Gujarat, Maharashtra, Haryana, Punjab, Rajasthan,
Kolkata, and Bengaluru.
 The event promoted cultural exchange and strengthened ties between India and the United Arab
Emirates.
Sources of the News:
The Hindu,The Indian Express,Business Standard, The Financial Express ,PIB, etc.

Beepedia Monthly Current Affairs (Beepedia) June 2023

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RBI, Banking and Economy

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RBI releases the Financial Stability Report, June 2023*

*(The detailed version of the FSR report will be released soon)

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RBI Governor launches financial inclusion dashboard 'Antardrishti'

RBI permits banking units at IFSC to settle NDDCs in rupee

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RBI opens TReDS for All Players in Factoring, Insurers

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Equitas Holdings surrenders NBFC licence to RBI

RBI imposes Rs 20 lakh penalty on Manappuram Finance

RBI Imposes Penalty on J&K Bank, Bank of Maha, Axis Bank

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Bank of Maharashtra Headquarters: Pune CEO: A. S. Rajeev

Axis Bank Registered Office: Ahmedabad MD &CEO: Amitabh Chaudhry

RBI slaps penalties on Standard Chartered Bank-India, other entities

Entity Penalty Amount (in Rs) Non-Compliance

Standard Chartered Bank-

TransUnion CIBIL Limited, Credit Information Companies (Regulation) Act,

Equifax Credit Information

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RBI opens sub-office at Kohima, to increase presence in north east

RBI permits banks to issue RuPay Prepaid Forex cards

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RBI revises OTS guidelines, brings UCBs under ambit

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Reserve Bank of India purchased $7.7 billion in April, highest in 2 years

Outward remittances under LRS scheme fall slightly in April to $2.33 bn

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UPI to account for 90% of retail transactions in 5 years: RBI bulletin

Sovereign Gold Bond Scheme 2023-24 (Series I) – Issue Price

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RBI imposes Rs 2.2-crore penalty on Indian Overseas Bank

India's current account deficit narrows to 0.2% of GDP in Q4 FY23

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UBS revises FY24 GDP growth forecast up by 70 bps to 6.2 pc

JP Morgan raises India's FY24 GDP forecast to 5.5%

JPMorgan to use blockchain to settle US dollar forex trades in India hub

OECD marginally raises India's GDP growth forecast to 6% for FY24

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World Bank approves $150-million loan for Resilient Kerala programme

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World Bank approves USD 391 mln for Assam, Tripura