Daily Current Affairs- 7 June 2024

Daily Current Affairs- 7th June 2024

NATIONAL

RIL is all set to develop Global Economic Hub in Navi Mumbai

• Reliance Industries Limited (RIL) is set to develop a global economic hub in Navi Mumbai, having secured sub-leases on approximately 3,750 acres of land for Rs 13,400 crore. The lease spans 43 years and stems from a memorandum of understanding signed with the Maharashtra government in 2018.
• In an exchange filing, RIL announced that its subsidiaries have completed the registration of the sub-lease deeds for the land, including development rights from Navi Mumbai IIA Pvt Ltd (formerly Navi Mumbai SEZ), where planning agency CIDCO holds a 26% stake. 

Nakshatra Sabha, India’s first Astro tourism campaign In Dehradun

• In order to boost tourism in the state, the Uttarakhand government organized a first-of-its-kind Astro-tourism named ‘ Nakshatra Sabha’ in Mussoorie. The first astro-tourism event was held at Mussoorie City, also famous as the Queen of the Hills, on 1 and 2 June 2024.
• The event was held at the George Everest Peak, which is popular amongst tourists as it offers spectacular views of the Doon Valley and the snow-clad Himalayan mountains, The state tourism ministry plans to organise a series of Nakshatra Sabhas at popular tourist destinations in the hilly state. 

Bihar’s Nagi & Nakti Bird Sanctuaries added to Ramsar sites

• The Union Ministry of Environment, Forest and Climate Change has notified Nakti and Nagi bird sanctuaries in Bihar as the newest wetlands of international importance under the Ramsar convention. Both the sites are man-made and situated in the Jhajha forest range of Jamui district of Bihar.
• Bihar now has three wetland sites under the Ramsar convention, and the total number of Ramsar sites in the country has increased to 82.
• India and China jointly hold the third-largest number of Ramsar sites in the world, with 82 sites each. The United Kingdom leads the list with 175 sites, while Mexico is second with 144 sites. 

IMPORTANT DAYS

World Food Safety Day

• Every year, World Food Safety Day is observed on June 7 to reinstate the importance of food safety and practicing healthy cooking and storage practices.
• This year's theme is 'Food safety: prepare for the unexpected.' WHO writes on its website, "World Food Safety Day on June 7, 2024, highlights food safety incidents, stressing the importance of readiness in facing them, no matter their severity."
• World Food Safety Day was established by the United Nations General Assembly in December 2018. It was first celebrated on June 7, 2019. The day aims to raise awareness about the importance of food safety and to encourage actions that help prevent, detect, and manage foodborne risks. 

SUMMIT'S & MOU's

3rd Indian Analytical Congress being held at CSIR-IIP Dehradun

• The three-day 3rd Indian Analytical Congress is being held in Uttarkhand’s capital, Dehradun, from 5 -7 June 2024. The Congress was inaugurated by the Vice-Chancellor of Ladakh University, Prof. S.K. Mehta, on 5 June 2024.
• The conference aims to provide a platform for analytical scientists, technologists, academics, and students to exchange ideas and discuss the latest developments in this field.
• Analytical science refers to the art of measurement and its interpretation. It involves improving the means of measuring the chemical composition, structure, and morphology of natural and man-made substances or entities and interpreting the data obtained. 

AWARDS & RECOGNITION

C-DOT wins UN’s WSIS 2024 “Champion” Award

• The government of India’s premier Telecom Research and Development Centre, the Centre for Development of Telematics (C-DOT), has won the United Nations World Summit of Information Society (WISS) 2024 award. The award to C-DOT was announced at the WSIS+20 Forum High-Level Event 2024, which was held in Geneva, Switzerland, from 27 to 31 May 2024.
• C-DOT was set up on 24 August 1984 by the government of India to bring telecom revolution in India by developing telecom technologies and products suitable to Indian conditions. 

Nar Singh, Rohini Lokhande win Dilip Bose lifetime achievement award

• The All India Tennis Association (AITA) has announced the Dilip Bose award for lifetime achievement to coach Nar Singh. The award along with a cash prize of Rs.50,000 will be presented during the 11th National coaches workshop to be held at the PYC Hindu Gymkhana in Pune on June 7 and 8.
• The secretary general of AITA, Anil Dhupar, announced a new lifetime achievement award for women coaches. The first award would be presented to the 69-year-old Rohini Lokhande who was a member of the national team along with Kiran Bedi, Nirupama Mankad, Susan Das and Udaya Kumar, before she took to coaching at a young age.
• Rohini was the first woman tennis coach to qualify from the National Institute of Sports. She has trained thousands of players in different age groups and has helped many to qualify as coaches. 

BANKING AND ECONOMY

RBI approves Zurich Insurance's acquisition of 70% stake in Kotak Mahindra Insurance

• The Reserve Bank of India has approved Zurich Insurance Company’s proposed acquisition of a 70% stake in Kotak Mahindra General Insurance Company. The deal is valued at ₹5,560 crore. Kotak Mahindra Bank announced this in an exchange filing on June 5.
• Zurich Insurance had previously announced its intention to acquire a 51% stake in November 2023, followed by an additional 19% stake later on, through a combination of fresh growth capital and share purchase. On February 6, the Competition Commission of India granted approval for the Zurich-based firm to acquire a 70% stake in Kotak General. 

RBI absorbs surplus liquidity aggregating ₹44,430 crore through two VRRR auctions

• The Reserve Bank of India (RBI) on Tuesday absorbed surplus liquidity aggregating ₹44,430 crore through two variable rate reverse repo (VRRR) auctions of three days tenor. The aforementioned amount was deployed by banks even as the central bank was ready to absorb a total of ₹1-lakh crore (notified amount).
• At the first three-day VRRR auction for a notified amount of ₹50,000 crore, banks deployed funds aggregating ₹41,730 crore. The central bank accepted these funds at a weighted average rate (WAR) of 6.48 per cent.
• At the second three-day VRRR auction for a notified amount of ₹50,000 crore, banks deployed funds aggregating ₹2,700 crore. The central bank accepted these funds at a WAR of 6.49 per cent. 

Muthoot Microfin & SBI Sign Co-Lending Agreement to Empower Women Entrepreneurs

• Muthoot Microfin has entered into a Co-lending agreement with the State Bank of India (SBI) to empower women entrepreneurs.
• After the partnership, Muthoot Microfin aims to extend its financial services to women entrepreneurs in rural and semi-urban regions across India.
• The agreement says that both entities (Muthoot Microfin and SBI) will co-lend to members of Joint Liability Groups (JLGs) who are engaged in agricultural and allied activities as well as other income-generating enterprises.