Daily Current Affairs 08th June 2023

• UN Security Council Founded: 24 October 1945;
• UN Security Council Headquarters: New York, New York, United States;
• UN Security Council Head: António Guterres.

Defence News

7. Germany prepares to host “Air Defender 2023” NATO’s biggest ever air exercise

• Germany is preparing to host the biggest air deployment exercise in NATO’s history, a show of force intended to impress allies and potential adversaries such as Russia. The Air Defender 23 exercise starting next week 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 training maneuvers.

Important takeaways for all competitive exams: 

• NATO current Head: Jens Stoltenberg;
• NATO Founded: 4 April 1949, Washington, D.C., United States;
• NATO Headquarters: Brussels, Belgium.

Economy News

8. All about Pension Fund Regulatory and Development Authority (PFRDA)

• The Pension Fund Regulatory and Development Authority (PFRDA) is a statutory body established by the Government of India in 2003. It is responsible for regulating and promoting the pension sector in the country. The government has appointed Deepak Mohanty as the chairman of PFRDA (Pension Fund Regulatory and Development Authority).
• The authority consists of a chairperson and not more than six members, with at least three of them being whole-time members, appointed by the Central Government.

9. Competition Commission of India: Upholding Fair Competition in the Market

• In an era of globalization and liberalization, ensuring fair competition is crucial for the growth and development of any economy. The Competition Commission of India (CCI) is the statutory body responsible for enforcing competition laws and promoting fair market practices in India.
• Established in 2003, the CCI acts as a watchdog to prevent anti-competitive agreements, abuse of dominant market positions, and regulate mergers and acquisitions. This article provides an overview of the CCI, its role, and the current Chairperson, Sangeeta Verma, who is currently serving in an acting capacity.

10. RBI Monetary Policy 2023, Repo Rate Unchanged, GDP growth 6.5%

• The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has announced its policy decision. The 2nd bi-monthly monetary policy meeting of FY24 was held from June 6 to 8 and its outcome will be announced on June 8.The next meeting of the MPC is scheduled during August 8-10, 2023.  
• All members of the MPC – Dr. Shashanka Bhide, Dr. Ashima Goyal, Prof. Jayanth R. Varma, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra, and Shri Shaktikanta Das – unanimously voted to keep the policy repo rate unchanged at 6.50 percent.

Banking News

11. RBI Updates ‘Alert List’ of Entities Not Authorized to Deal in Forex Trading

• The  (RBI) has recently updated its ‘Alert List’ to caution the public about unauthorised forex trading platforms. The list, which initially contained 34 entities, has now been expanded to include eight additional names, bringing the total to 56.
• This move highlights the RBI’s commitment to protecting residents from fraudulent activities related to forex trading. The central bank has emphasized the need for individuals to verify the authorization status of any entity or Electronic Trading Platform (ETP) before engaging in forex transactions.

Schemes News

12. PM-KUSUM Scheme: Centre Explores Agri Infra Fund for Solar Projects on Farm Lands

• The Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) Scheme, launched in 2019, aims to enhance energy security for farmers in India and promote the use of clean energy in the agriculture sector. The scheme seeks to achieve India’s commitment to increasing the share of non-fossil fuel sources in the country’s installed capacity of electric power.
• In a bid to boost the implementation of solar projects on agricultural lands, the central government is considering linking the PM-KUSUM scheme with the Agriculture Infrastructure Fund (AIF). This move aims to provide farmers with access to cheaper loans for setting up solar projects and procuring equipment.

Sports News

13. Sunil Kumar wins decathlon gold at Asian U20 Athletics Championship

• India’s Sunil Kumar scored 7003 points and clinched gold in men’s decathlon at the Asian U20 Athletics Championships in Yecheon, South Korea.
• Apart from Sunil’s heroics, Pooja clinched women’s high jump silver after finishing with a 1.82m jump while Bushra Khan, secured silver in women’s 3000m race. In the women’s 4x100m relay, India secured bronze with a time of 45.36s.

Ranks and Reports News

14. Tata Retains Title of India’s Most Valuable Brand, Taj Strongest Brand for 2nd Year in a Row: Brand Finance Report

• The Tata Group has once again secured its position as India’s most valuable brand, achieving a brand value of $26.4 billion. This significant milestone marks the first time an Indian brand has surpassed the $25 billion mark, placing Tata in the top 100 of the Brand Finance Global 500 2023 rankings.
• Additionally, the Taj Group, a luxury hotel giant, emerged as India’s strongest brand for the second consecutive year, with a brand value of $374 million.

Important Days

15. World Oceans Day 2023: Date, Theme, Significance and History

• World Oceans Day, observed annually on June 8th, serves as a global reminder of the crucial role oceans play in sustaining life on Earth. Recognized by the United Nations, this day promotes ocean awareness and encourages people worldwide to take action towards protecting our marine environments.
• By amplifying the significance of the world’s oceans, we hope to inspire individuals, communities, and governments to work together for a more sustainable future. Every year, the World Oceans Day is celebrated under a specific theme. This year, the theme of World Oceans day 2023 is “Planet Ocean: The Tides are Changing.”

Obituaries News

16. Award-winning DD anchor Gitanjali Aiyar passes away

• Gitanjali Aiyar, one of India’s first English female news presenters on national broadcaster Doordarshan, passed away. Aiyar is survived by a son and daughter Pallavi Aiyar, who is also an award-winning journalist.
• After completing graduation from Kolkata’s Loreto College, she had joined Doordarshan in 1971 and was awarded the best anchor four times. She also won the Indira Gandhi Priyadarshini Award for Outstanding Women in 1989.

Miscellaneous News

17. Muthamizh Selvi, first Tamil Nadu woman to scale Mt Everest

• Udhayanidhi Stalin, the Tamil Nadu Minister for Sports Development and Youth Welfare, honored a remarkable climber, N Muthamizh Selvi, who achieved a significant feat by becoming the first woman from Tamil Nadu to climb Mount Everest. 
• Selvi, who hails from Johilpatti, Virudhunagar, successfully reached the top of the world on May 23 after completing an arduous journey that lasted 56 days. Upon her arrival at the Chennai airport, the 34-year-old climber was given a warm welcome by enthusiastic supporters.