International News
Denmark Set to Impose World’s First Carbon Tax on Gassy Cattle
Denmark plans to implement a tax on livestock farmers starting in 2030, making it the first nation to do so. This initiative targets methane emissions from cows, sheep, and pigs, which are significant contributors to global warming. The goal is to achieve a 70 per cent reduction in Danish greenhouse gas emissions from 1990 levels by the year 2030.
South Korea, US, And Japan Launch First Trilateral Multi-Domain Exercise
Japan, the Republic of Korea, and United States began the inaugural execution of exercise Freedom Edge, a trilateral multi-domain exercise, June 27. The execution of the exercise was announced at the Camp David Summit in August 2023 and at the Japan, ROK, and U.S. defense ministerial meeting, which took place in June during the Shangri-La Dialogue.
Defence News
DG, RPF Launches Sangyaan App – A Comprehensive Legal Reference Application
The Director General of Railway Protection Force (RPF) Manoj Yadava today launched the Sangyaan App, designed by the RPF Tech Team to provide in-depth information on three new Criminal Acts: the Bharatiya Nyaya Sanhita (BNS) 2023, the Bharatiya Nagarik Suraksha Sanhita (BNSS) 2023, and the Bharatiya Sakshya Adhiniyam (BSA) 2023. The app aims to educate and empower RPF personnel with comprehensive information on both new and old criminal laws, emphasizing their relevance to RPF operations. Available for Android and iOS, the app features user-friendly navigation, a searchable database, and offline access, making it a practical tool for staying informed about the latest legal developments in India.
Jaipur Military Station: 2nd Military Station to Have Plastic Waste Road
Jaipur Military Station has become the second military station in India to have a road made from plastic waste. The road, inaugurated on June 26, 2024, by Major General R.S. Godara, General Officer Commanding of 61 Sub Area, is 100 meters long and stretches from Sagat Singh Road under bridge to Cubs Corner complex. This initiative aligns with the Indian Army’s policy to create sustainable and green military stations, and it was constructed under the aegis of GE (South), CE Jaipur Zone, with assistance from Deep Constructions Pvt. Ltd. Compared to conventional roads, plastic waste roads are more durable, suffer less wear and tear, reduce water induction, and increase sustainability.
INS Sunayna Entered Port Victoria, Seychelles
The deployment marks sustained participation of an Indian Military Contingent in military parade organized as part of Seychelles National Day since 1976. INS Sunayna entered Port Victoria, Seychelles on 26 Jun 24 as part of her long range deployment in the South West Indian Ocean Region.
Banking News
RBI Reports Decline in Short-Term Debt’s Share of India’s External Debt
India’s Reserve Bank (RBI) has announced a notable decline in the proportion of short-term debt within the country’s total external debt, marking a decrease of 2.1 percentage points by March 2024 compared to the previous year. This reduction is indicative of India’s strengthened external sector resilience. The ratio of short-term debt to foreign exchange reserves also fell from 22.2% to 19.0% over the same period, underlining improved stability.
SBI Raises Rs 10,000 Crore via 15-Year Infrastructure Bonds at 7.36% Coupon
State Bank of India (SBI) has successfully raised Rs 10,000 crore through its fifth infrastructure bond issuance. The bonds, with a tenure of 15 years and a coupon rate of 7.36% payable annually, garnered significant investor interest, oversubscribed nearly four times the base size of Rs 5,000 crore. The offering received 143 bids from diverse entities including provident funds, pension funds, insurance companies, mutual funds, and corporates.
RBI Projects Further Moderation in Bank NPAs to 2.5%
The Reserve Bank of India (RBI) has projected a further improvement in the gross non-performing assets (GNPA) ratio of scheduled commercial banks (SCBs), estimating it to decrease to 2.5% by March 2025. This optimistic outlook is based on macro stress tests evaluating banks’ resilience against potential economic shocks.
Economy News
NCAER Projects Over 7% Growth for Indian Economy in Fiscal 2025
The National Council of Applied Economic Research (NCAER) forecasts India’s GDP to surpass 7% and possibly reach 7.5% in fiscal year 2024-25, citing resilient domestic economic indicators and favorable global conditions. High-frequency data shows robust economic activity, prompting upward revisions by all major agencies. Factors supporting this outlook include expected normal monsoons and a focused policy stance on investment and stability.
Scheme News
PM Gati Shakti Scheme is Transforming India’s Infrastructure: Morgan Stanley
In a recent report American multi-national investment bank and financial company Morgan Stanley has all praise for PM Gati Shakti scheme. The report highlights increased and more targeted investments, suggesting a continued emphasis on infrastructure spending in India’s future.
Awards News
Sanjana Thakur Wins 2024 Commonwealth Short Story Prize
Sanjana Thakur 26 years old, writer from Mumbai, beat competition from over 7,359 entrants worldwide to be named the winner of the GBP 5,000 Commonwealth Short Story Prize 2024 in London on June 27. Sanjana’s story entitled Aishwarya Rai takes its name from the famed Bollywood actress to reimagine and reverse the traditional adoption story.
Sports News
Cricket Legend Kapil Dev Takes Helm of Indian Professional Golf
In a momentous development for Indian golf, Kapil Dev, the legendary cricketer and passionate amateur golfer, has been elected as the new president of the Professional Golf Tour of India (PGTI). This significant appointment marks a new chapter in the history of professional golf in India.
Important Days
International Pineapple Day 2024, Date, Celebration and Significance
International Pineapple Day is just around the corner, set to be observed on Thursday, June 27, 2024. This special day is dedicated to honouring the tropical pineapple and its many contributions to our lives.
National Insurance Awareness Day 2024, Date, History and Significance
National Insurance Awareness Day Observed on June 28, 2024! This annual observance is dedicated to promoting the importance of insurance and ensuring that people understand the benefits of having adequate coverage. It’s a day to reflect on our financial security and take proactive steps towards a more protected future.
