National News

India is World’s Second Largest Emitter of Nitrous Oxide

India is the world’s second largest source of nitrous oxide (N2O), a greenhouse gas that heats up the atmosphere far more than carbon dioxide. Nearly 11% of such global man-made emissions in 2020 were from India, topped only by China at 16%. The major source of these emissions comes from fertiliser usage, according to a global assessment of N2O emissions published in the journal Earth System Science Data on June 12.

India Surpasses Hong Kong to Reclaim Fourth Spot in Global Equity Market

India’s equity market has once again outpaced Hong Kong, securing the position as the world’s fourth-largest by market capitalization. With India’s market value soaring to $5.2 trillion, bolstered by a 10% surge following a post-election market rebound, it now leads Hong Kong, which stands at $5.17 trillion after a 5.4% decline from its peak this year.

Kashmiri Pandits Take Part in Kheer Bhawani Temple Festival

Thousands of Kashmiri Pandits converged at the Kheer Bhawani temple in Kashmir Valley’s Ganderbal district to attend the annual festival of Zyestha Ashtami on June 14. Many of them had migrated to different parts of the country in the 1990s in the wake of raging militancy.

International News

WHO Recognises 3rd Indian Institute For Traditional Medicine Research

The World Health Organisation (WHO) has designated the National Institute of Indian Medical Heritage (NIIMH) in Hyderabad, under the Ministry of Ayush, as a WHO Collaborating Centre (CC) for traditional medicine research. Established in 1956, NIIMH has been a pioneer in various digital initiatives of Ayush. This recognition, announced on Friday, has been granted for a period of four years, marking NIIMH as the third Indian institute to receive such an honor.

G7 Agrees $50bn Loan for Ukraine Using Russian Assets

The G7 has agreed to leverage frozen Russian assets to secure a $50 billion loan for Ukraine to aid in its defense against Russian invasion. US President Joe Biden emphasized this move as a firm stance against Russia, while President Vladimir Putin condemned it as theft.

States News

Madhya Pradesh CM Inaugurates PM Shri Tourism Air Service From Bhopal

Madhya Pradesh Chief Minister Mohan Yadav launched an intra-State air service to promote tourism on June 13 from Raja Bhoj International Airport in the state capital Bhopal. It is called ‘PM Shri Paryatan Vayu Seva’ and the first flight was flagged off from the capital Bhopal to Jabalpur. The service operated by the Madhya Pradesh Tourism Board (MPTB) with two aircraft will connect eight cities across the State- Bhopal, Indore, Jabalpur, Gwalior, Khajuraho, Ujjain, Rewa, and Singrauli.

Science and Technology News

Woman Entrepreneur Successfully Develops AI Tool ‘Divya Drishti’

A woman-led start-up has successfully developed an AI-based tool that creates a “robust and multi-faceted authentication system” by combining facial recognition with gait analysis. This innovative solution marks a “significant advancement” in biometric authentication technology, offering “enhanced accuracy and reliability”.

Agreements News

G7 Agrees $50bn Loan for Ukraine Using Russian Assets

The G7 has agreed to leverage frozen Russian assets to secure a $50 billion loan for Ukraine to aid in its defense against Russian invasion. US President Joe Biden emphasized this move as a firm stance against Russia, while President Vladimir Putin condemned it as theft.

Business News

India’s Wholesale Prices Accelerate to 15-Month High of 2.61% in May

India’s wholesale inflation, measured by the wholesale price index (WPI), surged to a 15-month high of 2.61% in May from 1.26% in April, driven by an adverse base effect and a sharp increase in food prices. The inflation rate for food items reached 9.82%, contrasting with -3.61% in May 2023.

Banking News

Finance Ministry Caps Arbitration Value at ₹10 Crore

In a bid to streamline dispute resolution involving government or public sector enterprises (PSEs), the Finance Ministry has set a cap of ₹10 crore for arbitration cases. This move aims to mitigate the perceived challenges of lengthy proceedings and potential misconduct among arbitrators. The Ministry also advises against automatically including arbitration clauses in large government contracts, emphasizing mediation and judicial adjudication as viable alternatives.

ATM Operators Push for Rs 2 Interchange Fee Hike Amid Viability Concerns

ATM operators in India are advocating for an increase in interchange fees by Rs 2 per transaction, citing financial sustainability challenges. The Confederation of ATM Industry (CATMI) has formally approached the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to raise the current maximum fee from Rs 21 to Rs 23 per transaction, as reported by the Economic Times.

Summits and Conferences News

India-IORA Cruise Tourism Conference Concludes In New Delhi

The two day India-IORA Cruise Tourism Conference concluded in New Delhi on June 14. Officials and experts from the Indian Ocean Rim Association, IORA Member States including Bangladesh, Kenya, Madagascar, Maldives, Mozambique, Sri Lanka, South Africa, Seychelles and Tanzania participated in the Conference.

Ranks and Reports News

Mumbai, Delhi Luxury Real Estate Among Top 5 Globally: Knight Frank

Mumbai and Delhi have emerged as top performers in the global luxury real estate market, according to Knight Frank’s recent report, “Prime Global Cities Index January-March 2024”. Both cities recorded significant increases in house prices, positioning them among the top five global cities for prime residential price growth.

Sports News

Divya Deshmukh and Kazybek Nogerbek Triumph at FIDE U-20 World Chess Championship 2024

The 2024 FIDE U-20 World Chess Championship, organized by the International Chess Federation (FIDE), witnessed a remarkable achievement as 18-year-old Divya Deshmukh from Nagpur, India, clinched the FIDE Under-20 Girl’s World Chess Championship title. Deshmukh’s triumph marks her as the fourth Indian woman to win this prestigious title, following in the footsteps of chess legends Koneru Humpy, Harika Dronavalli, and Soumya Swaminathan.

Books and Authors News

A Book titled “A Fly on the RBI Wall” Authored by Alpana Killawala

When Alpana Killawala joined the Reserve Bank of India (RBI), the bank’s communication department was just beginning to take shape. Over a career that spanned more than two decades, Alpana not only witnessed but actively contributed to the evolution of the RBI’s communication strategies. Her book, A Fly on the RBI Wall: An Insider’s View of the Central Bank, offers an insightful glimpse into her journey and the institution’s transformation over 25 years.

R. Ashwin’s ‘I Have the Streets: A Kutti Cricket Story’ – A Glimpse into the Life of a Cricketing Legend

Off-spinner Ravichandran Ashwin, one of the most accomplished cricketers in the history of the game, is set to unveil his autobiography titled ‘I Have the Streets: A Kutti Cricket Story’ on June 10, 2024. Co-authored with acclaimed writer Sidharth Monga, this book promises to take readers on a captivating journey through Ashwin’s life and times before he became a professional cricketer.

Important Days

World Elder Abuse Awareness Day 2024 Observed on 15 June

World Elder Abuse Awareness Day (WEAAD) is an annual observance held on June 15th to raise awareness about the mistreatment of older persons. Established by the United Nations in 2011, WEAAD aims to shed light on the global problem of elder abuse and promote the rights and well-being of older individuals.

International Day of Family Remittances 2024 Observed on 16th June

Every year on June 16th, we observe the International Day of Family Remittances, a day dedicated to recognizing the significant contributions of over 200 million migrants who send money back home to support their families. These family remittances are small amounts of money that, when combined, total three times more than official development assistance provided by countries.