Banking Current Affairs : 22nd July 2024

Today’s Current Affairs: 22nd July 2024 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

53rd GST Council Meeting:

• The 53rd Goods and Services Tax (GST) Council meeting headed by Union Minister Nirmala Sitharaman, Ministry of Finance (MoF) and Ministry of Corporate Affairs(MoCA) was held on 22nd June 2024 in New Delhi, Delhi.
• The GST council informed that a uniform rate of 5% Integrated Goods and Services Tax (IGST) will be implemented for imports of all ‘Parts, components, testing equipment, tools and toolkits of aircraft.
• The IGST will be implemented irrespective of their Harmonized System (HS) classification.

NITI Aayog Released Report on ‘Electronics: Powering India’s Participation in GVC’:

• The National Institution for Transforming India (NITI) Aayog released its report titled “Electronics: Powering India’s Participation in Global Value Chains“.
• This report provides an in-depth analysis of India’s electronics sector, highlighting its potential and challenges, and outlines a roadmap for India to become a global manufacturing hub in electronics.

Union Minister Jitendra Singh Inaugurates Asia’s 1st Health Research-Related “Pre-clinical Network facility” under CEPI:

• Dr. Jitendra Singh, Minister of State (MoS) Independent Charge (IC), Ministry of Science and Technology (MoS&T), inaugurated Asia’s 1st health research-related “Pre-clinical Network Facility” under the Coalition of Epidemic Preparedness Innovations (CEPI) at the Regional Centre of Biotechnology (RCB) under the aegis of the Translational Health Science & Technology Institute (THSTI) in Faridabad, Haryana.

Overview of EAM, Dr. S. Jaishankar Visit to the Republic of Mauritius from 16th to 17th July 2024:

• Union Minister Dr. Subrahmanyam Jaishankar, Ministry of External Affairs (MEA), Government of India (GoI) was on a 2-day official visit to the Republic of Mauritius from 16th to 17th July 2024.
• This marked his 1st bilateral visit to the Republic of Mauritius after being sworn-in as External Affairs Minister (EAM) of India for 2nd consecutive term.

SEBI recognizes BSE Ltd as RAASB and IAASB:

• The Securities and Exchange Board of India (SEBI) has recognized BSE Limited (formerly Bombay Stock Exchange) as a supervisory body for Research Analyst Administration and Supervisory Body (RAASB) and Investment Adviser Administration and Supervisory Body (IAASB) to oversee their management and administration for a period of 5 years

Fintech Startup TechFini Receives NPCI Certification To Operate as UPI Provider:

• Mumbai (Maharashtra)-based Fintech Startup TechFini has received the certification from the National Payments Corporation of India (NPCI) to operate as a Unified Payments Interface (UPI)-based payment infrastructure provider for banks and fintech companies.
• The NPCI certifications validate TechFini’s commitment to innovation in payments technology and serve as a source of authentication to its customers and partners striving to access secure, reliable, and trustworthy solutions.

LIC Partners with IDFC First Bank To Enhance Bancassurance:

• The Life Insurance Corporation of India (LIC) has partnered with IDFC First Bank Limited, under Corporate Agency Arrangement to enhance bancassurance and to provide life insurance coverage to all by 2047.
• It will benefit more than 1 crore IDFC First Bank customers, who will now be able to purchase LIC policies through the bank.

FICCI Forecasts India’s GDP Growth Forecast for FY25 at 7%; CPI Inflation Projected at 4.5%

• The Federation of Indian Chambers of Commerce & Industry (FICCI)’s Economic Outlook Survey released in July 2024 has projected a 7% annual median Gross Domestic Product (GDP) growth for India in the fiscal year 2024-25(FY25).
• This forecast presents a growth estimate range from 6.6% to 7.5%.

GRSE Signed Rs 840 Crore Deal with NCPOR for Ocean Research Vessel:

• Garden Reach Shipbuilders and Engineers Limited (GRSE) signed an agreement worth Rs. 839.55 Crores. with the National Centre for Polar and Ocean Research (NCPOR) for the construction of the Ocean Research Vessel (ORV) in 36 months.

India’s WPI Inflation Rate Rose to 3.36% in June 2024:

• According to the data released by the Ministry of Commerce and Industry(MoCI), the annual inflation rate based on the all-India Wholesale Price Index (WPI) stands at 3.36% (Provisional) for June 2024 (over June 2023).
• The positive inflation rate is primarily due to increases in prices of food articles, crude petroleum, natural gas, mineral oils, other manufacturing sectors, etc.

ESAF SFB Received Approval from the RBI for Re-appointment of K Paul Thomas as MD and CEO:

• ESAF Small Finance Bank(ESAF SFB) announced that it has received the approval from the Reserve Bank of India (RBI) for the re-appointment of Kadambelil Paul Thomas as Managing Director (MD) and Chief Executive Officer (CEO) of the bank for next 3 years.

ISRO Scientists Generated 1st Complete Undersea Map of Ram SetuI

• ISRO Scientists have successfully generated the 1st undersea map of the submerged Ram Setu or Adam’s Bridge with the help of National Aeronautics and Space Administration (NASA)’s ICESat-2 (short for Ice, Cloud and land Elevation Satellite),
• The map was revealed by the Scientists from ISRO’s Jodhpur(Rajasthan) and Hyderabad (Telangana) National Remote Sensing Centre(NRSC).

Phlogacanthus Sudhansusekharii’: New Plant Species Discovered in Arunachal Pradesh

• Researchers from the Botanical Survey of India (BSI) have discovered a new plant species named ‘Phlogacanthus Sudhansusekharii’ in the Itanagar Wildlife Sanctuary, in Papum Pare district, Arunachal Pradesh (AR).
• The new plant species has been named after Dr Sudhansu Sekhar Dash, a Scientist at the BSI, in recognition of his significant contribution to plant and ecological research in the Indian Himalayan region.

Haryana Cabinet Approves IT Saksham Yuva Scheme To Provide 5,000 Jobs in First Phase:

• The Haryana Cabinet approved the launch of the ‘IT Saksham Yuva Scheme’ to provide job opportunities to 5000 youth in the first phase.
• It is also named as ‘Saksham Yuva 5000 Job Scheme’.

Chhatrapati Shivaji’s “Bagh Nakh” Back In India:

• The tiger claw-shaped weapon reportedly used by Maratha warrior king Chhatrapati Shivaji Maharaj to kill Bijapur Sultanate general Afzal Khan in the 1659 Battle of Pratapgarh.

Manoj Soni, UPSC Chairman Confirms Resignation:

• UPSC Chairman Manoj Soni has submitted his resignation citing personal reasons. Manoj Soni’s resignation has not been accepted yet.
• The resignation of Union Public Service Commission (UPSC) chairperson comes five years before the termination of his tenure and a year after taking charge.

“Rajiv Gandhi Civils Abhayahastam” Launched By Telangana CM:

• Telangana Chief Minister A. Revanth Reddy launched a unique programme to provide financial assistance to the Civil Services aspirants from Telangana, under which the candidates who qualify for the Mains exams will be provided with ₹1 lakh for preparation.

Maharashtra CM Eknath Shinde Announces ‘Ladka Bhau’ Job Training & Stipend Scheme For Youth:

• Maharashtra Chief Minister (CM) Eknath Shinde announced a new job training and stipend scheme for Maharashtra’s youth named ‘Ladka Bhau Yojana’, a part of the ‘Mukhya Mantri Yuva Karya-Prashikshan Yojana’ at Pandharpur in Solapur district, Maharashtra during the Ashadhi Ekadashi celebrations.

“Classical and Quantum Communications for 6G” in Chennai:

• Dr Neeraj Mittal, Secretary (Telecom) has inaugurated a centre of excellence on “Classical and Quantum Communications for 6G” at IITM Research Park, Chennai.