By RBI Governor Kapil Kathpal

RBI Monetary Policy Announcement Shaktikanta Das

on 8 June.

No change in the repo rate for the second time in a row.

Currently at 6.5%.

Current monetary policy rates:

Repo Rate 6.50%
Reverse Repo Rate 3.35%
Standing Deposit Facility (SDF) 6.25%
Marginal Standing Facility Rate 6.75%
Bank Rate 6.75%
Cash reserve ratio (CRR) 4.50%
Statutory Liquidity Ratio (SLR) 18.00%
 Electric Vehicle Operations and Kapil Kathpal
SIDBI Launched Mission EVOLVE
Lending for Vibrant Ecosystem
to finance MSMEs for EVs (EVOLVE)

in a tie-up with the

• Niti Aayog : It will give technical support to SIDBI

• World Bank : financial assistance would be to finance MSMEs in the
provided by them electric vehicles space.
• Korea-World Bank partnership facility,
• Korean Economic Development Cooperation Fund
(EDCF)

Federal Bank launches ‘I am Adyar, campaign in Chennai, Tamil Nadu

Adyar is me’ campaign in Chennai

It transformed an entire bank branch into a living museum of local stories – initially with
40 compelling stories of individuals
 Kapil Kathpal
Samco launches India’s 1st Actively-managed
momentum fund, SAMCO Active Momentum Fund

India’s first actively-managed momentum fund – SAMCO Active Momentum Fund

open-ended equity scheme following momentum with the

Benchmark Index of Nifty 500 Index TRI

Institute of Chartered
ICAI and IBA to Set up Common Indian Banks’
Accountants of India
Association (IBA)
Platform for Balance Confirmations (ICAI)

to set up a Common Platform for Balance

The platform’s maintenance will be handled by
Confirmations which will be jointly controlled by
Mumbai based PSB Alliance in collaboration
both entities
with Hyderabad based Institute for
Development and Research in Banking
PSB Alliance is a joint venture umbrella
Technology (IDRBT)
corporation that was founded and owned by all
12 Public Sector Banks
 Kapil Kathpal
OECD Projects India’s GDP Growth Organization for Economic Co-
in FY24 at 6% & FY23 at 7.2% operation and Development (OECD)

India’s GDP growth forecast for FY23 was estimated at 7.2% due to higher-than-
expected agriculture output and strong government spending

Insurance gets IRDAI Approval to (IRDAI) granted the Certificate of Registration

(CoR) to Go Digit Life Insurance Limited
Carry Life Insurance Business in India

total number of insurers in the Indian life insurance segment to 26.

FLDG to deepen partnerships First Loss Default Guarantee (FLDG)

between lenders and fintechs framework

RBI has allowed a 5% default loss By allowing fintech to partner with banks and
cover for bank-fintech deals. non-Banking financial companies (NBFCs).
 Kapil Kathpal
ADB to Fund USD 130 Million Loan
for Horticulture in Himachal Pradesh

It will help farmers to increase the income and resilience to the effects of climate
change of at least 15,000 farm households across 7 districts of the state
namely Bilaspur, Hamirpur, Kangra, Mandi, Sirmour, Solan, and Una.

World Bank approves $148M loan to West

Bengal for Enhanced Rural Irrigation Practices

has a maturity of 11.5 years with a grace period of four years.

UAE emerges as fourth largest investor in India in FY23

In 2023, UAE’s Foreign Direct Investment (FDI) to Singapore was the largest investor in India
India has risen to USD 3.35 Billion which is more with USD 17.2 billion investment in FY23,
than tripled from USD 1.03 Billion in 2021 to 22. followed by Mauritius (USD 6.1 billion) and the
US (USD 6 billion).
In a first, IOB launches ‘My Account Kapil Kathpal

My Name’ for SB Account Holders

feature enabling its Savings Bank (SB) account customers to choose any easy to
remember 7 Digit/Character Account Name as their account number with IOB.

It can be a combination of seven letters only or seven numbers

only or seven alphanumeric characters

that eliminates paper-based documentation and on-

SIB launches Digital Account
boards customers in five minutes for opening Savings
Opening Platform ‘SIB SWIFTe’ Accounts, resulting in a hassle-free process.

It targets new-to-bank users above 18 years with valid Aadhaar and/or PAN
 in accordance with the Digital Kapil Kathpal
PNB launches IVR-based UPI 123PAY,
Payment Vision 2025 of a cashless
for customers without internet facility and cardless society

Infrastructure Development Finance Company(IDFC) First Bank, City Union Bank(CUB) &
National Securities Depository Limited (NSDL) Payments Bank have gone live on IVR payments

RING partners with NPCI to integrate UPI Plug-in

RING - India’s leading digital credit platform

This collaboration will enable RING to provide ‘Scan & Pay’ choices to its customers
 National News
Union Cabinet Approves Third Revival Package For BSNL

includes allotment of
with a total outlay of Rs 89,047.82 crore that includes 4G/5G spectrum
allotment of 4G/5G spectrum through equity infusion through equity
infusion
Authorized capital of BSNL was increased
from Rs 1,50,000 crore to Rs. 2,10,000 crore.

the first revival package for BSNL/Mahanagar In 2022, the Government approved a
Telephone Nigam Limited (MTNL) in 2019 second revival package for BSNL/MTNL
amounting to Rs. 69,000 Crore. amounting to Rs 1.64 Lakh Crore

Cabinet announces hike in MSP for for all mandated Kharif Crops for Marketing
kharif crops in 5% to 10% range Season 2023-24.

This is the highest increase in the last 5 As per Third Advance Estimates for FY23, total
year of 14.9 million tonnes as compared Foodgrain production in India is estimated at
to FY22 record 330.5 million tonnes
 Kapil Kathpal
Union Cabinet approves continuation of will be implemented from
‘Exploration of Coal and Lignite Scheme’ 2021-22 to 2025-26,

exploration for coal and lignite under the estimated expenditure of Rs 2980 crore.
scheme in two broad stages:

(i) Promotional (Regional) Exploration

(ii) Detailed Exploration in non-Coal
India Limited blocks

Meta & MWCD launched Amrit Generation Meta

Ministry of Women and Child
Campaign to Empower Youths Development (MWCD)

launched the Amrit Generation campaign to empower and

campaign invites youths to showcase engage the youth of India (age group of 16-18 years)
their creativity and share their
aspirations by creating Reels on
Instagram and Facebook using the to express their aspirations and dreams
#Amrit Generation. for the future
 Kapil Kathpal
50 shortlisted entries will be invited to New Delhi to interact with senior policymakers and
industry leaders

UP govt launches 'Elder Line' to

'Elder Line' 14567 service was recently launched by
give shelter to elderly homeless the Uttar Pradesh Social Welfare Department

MoP & MNRE jointly launched “Mission on Advanced and High-Impact

Research” to leverage Emerging Technologies in Power Sector

national mission named “Mission on Advanced and High-Impact Research” (MAHIR)

Objective
It will be funded by pooling financial resources
To quickly identify emerging technologies in the
of the MoP, MoNRE and the Central Public
power sector and leverage them indigenously, at
Sector Units (PSUs) under the two Ministries of
scale, for deployment within and outside India
MoP and MNRE.
 to accelerate the 'Waste to Kapil Kathpal
MoPSW launched ‘SAGAR SAMRIDDHI’, Wealth' initiative of the Ministry
an Online Dredging Monitoring System of Ports, Shipping and
Waterways

This will help in making the seas and port clean. With this, real time information on
dredging will be available.

This system has been developed by National Technology Centre for Ports,
Waterways and Coasts (NTCPWC) the technological arm of MoPSW

Centre takes 5 significant decisions for

strengthening Primary Agricultural Credit Societies

These 5 decisions are:-

 Kapil Kathpal
• On the basis of mapping, PACS which are not functioning as fertilizer
retailers will be identified and encouraged to function as retailers

• PACS which are not currently functioning as Pradhan Mantri Kisan

Samridhi Kendras (PMKSK) will be brought under the scope of
PMKSK.

• PACS will be connected with the marketing of organic fertilizers.

• PACS can also be employed as drone entrepreneurs.

• PACS will also be included as wholesalers/retailers.

go to three ports in Sri

Union Minister Sarbananda Sonowal flagged off MV Lanka, Hambantota,
Empress, India’s 1st International Cruise from Chennai Trincomalee and
Kankekanturi

area of 2,880 square metres with an

from Chennai to Sri Lanka in cost of Rs.17.21
ability to host 3,000 passengers at a
Chennai, Tamil Nadu. crores.
time.
 Kapil Kathpal
Government of India constitutes Peace Committee in
Manipur under the Chairpersonship of Governor, Manipur

chairmanship of Governor To facilitate the peace-making process

Anusuiya Uikey. among various ethnic groups of the State

WBIDC, FICCI, Amazon Jointly at Silpa Sadan, Kolkata, West

Hosts E-Export Haat in West Bengal Bengal

To help small businesses and entrepreneurs from West Bengal

expand their businesses globally through e-commerce exports.

Karnataka announces free bus

travel ‘Shakti’ scheme for women
 Kapil Kathpal
NHDC to set up a pumped Narmada Hydroelectric Development
storage project in Khandwa, MP Corporation (NHDC)

525 MW pumped storage project near

cost Rs 4,200 crore Indira Sagar Dam in Khandwa district of
Madhya Pradesh

GeM to organise District level Buyer-Seller Buyer-Seller Workshops in all the 75

workshops in Uttar Pradesh districts of Uttar Pradesh

To enhance the understanding of GeM's functionalities among buyers and sellers in the state,
 Kapil Kathpal
CPPIB Sells 1.77% Stake in Kotak Mahindra Bank
Acquisition & Merger

Canada Pension Plan Investment Board (CPPIB) sold around 3.3 crore
shares or 1.7 % of the equity of Kotak Mahindra Bank Limited(KMB)

shares were sold at an average price of Rs 1855.64, the total deal value was
Rs 6,123.6 crore

by 2.001% (8.26 crore shares) at an

LIC Raises Stake in SAIL to 8.6% average price of Rs 66.18 per unit

With this acquisition, LIC has raised its stake from 6.68% to 8.68%.
 MoUs & Agreements
BCI Signs MoU With Bar Council Of England & Wales For
Mutual Exchange Program Of Lawyers & Law Students

For an exchange programme of Lawyers and Law Students for mutual

exchange of training & learning amongst each other's jurisdiction

ICAR signs an MoU with Amazon to guide farmers who are enrolled on
Kisan to Empower Farmers Amazon’s ‘Kisan store’

IICA and RRU sign MoU for Indian Institute of Rashtriya Raksha
Corporate Affairs (IICA) University (RRU)
academic and research collaboration

objective
is to synergize the professional capabilities of IICA and RRU towards
capacity building, education, research and consultancy in the areas of
internal security, financial crime, law enforcement, corporate fraud and other
subjects.
 Kapil Kathpal
LA Zoo to partner with Bihar Govt &
WTI for gharial conservation in Gandak

Gharial (gavia), a fish-eating crocodile in the Gandak River in West Champaran

district, Bihar

Kotak Life & DGR signed MoU to Provide Directorate General Resettlement
Employment Opportunities for Ex-Servicemen (DGR),
 Ranking & Report
IEA report: Global Renewable Capacity the Global renewable
Additions to increase by 107 GW in 2023 capacity additions are set to
increase by 107 gigawatts
(GW),

the largest absolute increase ever, to more than

440 GW in 2023.

utility-scale solar PV capacity additions of India in 2022

Global renewable capacity additions
reached to 14 GW, accounting for over two-thirds of RE growth
could reach 550 GW in 2024
in India.

Tata Group has retained its 1st position as

INDIA 100 2023 Brand Finance Report India’s most valuable brand at USD 26,381
Million in 2023.

shown a growth at 10.3% as compared to 2022

 Kapil Kathpal

List of top 5 India’s Most Valuable Brands:

Rank Brand Valuation (in USD Million)

1 Tata Group 26,381

2 Infosys 13,010

3 LIC (Life Insurance Corporation of India) 9,756

4 Airtel 7,527

5 Reliance Group 7,357

List of Top 5 India’s Strongest Brands:

Rank Brand Overall Rank

1 Taj 78

2 AMUL (Anand Milk Union Limited) 16

3 Britannia 29

4 Jio Group 11

5 Royal Enfield 46
 Kapil Kathpal
Most Valuable Indian Brands in 2023 in Different Categories:

Category Brand

Most Valuable Banking Brand SBI (State Bank of India)

Most Valuable IT Services Brand TCS (Tata Consultancy Services)

Most Valuable Food & Drink Brand AMUL

Most Valuable Automobile Brand Mahindra

Most Valuable Telecoms Brand Airtel

Most Valuable Oil & Gas Brand Reliance

Most Valuable Insurance Brand LIC

Most Valuable Mining & Metals Brand Tata Steel

Most Valuable Building Materials Brands Ultratech Cement

Most Valuable Hotel Brand Taj

Most Valuable Tyre Brand MRF

Most Valuable Clothing Brand Raymond

 Of 160 countries, released by Australia-based Kapil Kathpal
Global Slavery Index 2023 Rights group Walk Free Foundation,

50 million people are globally living in conditions of modern slavery in 2021

Asia and Pacific region has the Among the G20 nations, India tops the list with 11
largest number of modern million people working as forced labourers, followed
slavery with 29.3 million people by China, Russia, Indonesia, Turkey and the U.S

Top 5 Countries where Modern Slavery is more prevalent and least

⅔ of people in India were
prevalent:
under modern slavery
Most Prevalent Least Prevalent

1 North Korea 160 Switzerland

2 Eritrea 159 Norway

3 Mauritania 158 Germany

4 Saudi Arabia 157 Netherlands

5 Turkiye 156 Sweden

 Kapil Kathpal
PM Narendra Modi inaugurated the first-ever
National Training Conclave for Civil Servants Summits &
Conference

organised under the authority of the National Programme for Civil Services
Capacity Building (NPCSCB) – ‘Mission Karmayogi

Piyush Goyal chairs 6th meeting of NTTM National Technical Textiles Mission (NTTM)

It aims to catalyze research and innovation in Technical

in New Delhi
Textiles in India

1st Meeting of the Joint Committee of the

India-UAE CEPA, concluded successfully

co-chaired by Union Minister Piyush Goyal, Ministry of Commerce & Industry

(MoCI)and Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade
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 Algeria, Guyana, Republic of Kapil Kathpal
UNGA elected 5 new non-permanent
Korea (South Korea), Sierra
member of UN Security Council Leone and Slovenia International News

For a 2 year period beginning from January

2024 to December 2025

UNDP Launches 3rd Cohort of 4 Ocean Innovators

aims to accelerate progress on Sustainable Development Goal (SDG) Target 14.2, 14.5
and 14.7: marine protected areas, area-based management and the blue economy

UNDP has committed to deliver at least 100 Ocean Innovations by 2030. Supported by
Sida and Norad, the third cohort receives financial support to ocean innovators of up to
USD 250,000 for two years
 Kapil Kathpal
3rd cohort of Ocean Innovators:
• DHI Water and Environment (M)Sdn. Bhd. – Mapping and monitoring of ecosystems
at Scale with Copernicus Sentinel-2 imagery, a tropical system application in
Malaysia.

• University of Rhode Island – Ensuring community roles in complex multiple use areas
in Madagascar

• Mersea Marine Consulting- Exotic Pufferfish Leather Products (Türkiye)

• International Union for Conservation of Nature (IUCN) – SEA Success (Bangladesh

and Thailand)
 Awards & Honours
Jagdish Bakan, Ramanathapuram DFO,
wins UNESCO’s 2023 Michel Batisse Award

Jagdish Sudhakar Bakan, wildlife warden and District Forest Officer

(DFO) of Ramanathapuram district, Tamil Nadu
first Indian to win
Michel Batisse
Wins UNESCO’s 2023 Michel Batisse Award for Biosphere Award
Reserve Management.

Indian-origin scientist Joyeeta Gupta the highest scientific awards in the

honoured with NWO Spinoza Prize 2023 Netherlands

British Writer Paterson Joseph wins for his debut novel titled “The Secret Diaries of
2023 RSL Christopher Bland Prize Charles Ignatius Sancho”.

Mumbai’s BEST received UITP Awards the UITP (Union Internationale des Transports
2023 under ‘Climate And Health’ category Publics) Awards 2023
 Kapil Kathpal

Lokesh Chandra, General Manager of BEST, held in Barcelona,

received the award Spain

BEST received award for excellence for excellence in the “smart

in smart mobility by FICCI mobility” category.

BEST aims to convert the entire fleet to electric buses and grow it to 10000 e-
buses by 2026. The fleet will double from 3219 to 7000 by 2023.
 Sports News
IBA Men’s World Boxing Championships 2023 22nd edition,
held at the
Humo Arena in
Tashkent,
Uzbekistan

3 Indian boxers, Deepak Kumar, Mohammed

won the bronze medal
Hussamuddin and Nishant Dev

Rank country Gold Silver Bronze Total

1 Uzbekistan 5 2 2 9

2 Kazakhstan 4 1 0 5

3 Russia 2 0 4 6

12 India 0 0 3 3

Spain 0 0 3 3
 Kapil Kathpal
Magnus Carlsen wins 2023 from Norway
Superbet Rapid & Blitz in Poland

Novak Djokovic won his 23rd Grand held at Court Philippe-Chatrier in Stade Roland
Slam title at French Open 2023 Garros, Paris, France.

Australia won 2nd ICC World Test was held at The Oval, London, the
Championship 2021-23 by defeating India United Kingdom.

Australia batter Travis Head was

adjudged the Player of the Match (Finals)
for scoring 163 runs off 174 balls in 1st
innings

BEST PERFORMANCES in ICC WTC 2021-23

Most runs Joe Root (England)1915 runs in 22 matches

Most wickets Nathan Lyon (Australia) 83 wickets in 19 matches

Long jumper Murali Sreeshankar finishes third achieving a best jump of 8.09m in his
in prestigious Diamond League Meet in Paris 3rd attempt.

Indian Women’s Junior Hockey Team won the

Hockey: 2023 Women’s Junior Asia Cup title by defeating four-time champions
Republic of Korea

The 8th edition finals held in Kakamigahara, Japan

 Science & Tech
DRDO successfully fight-tested “Agni range between1000
Prime” Ballistic Missile off Odisha coast to 2000 km

World’s Most Powerful Hypersonic world’s most powerful largest

Wind Tunnel Opens in Beijing, China and fastest wind tunnel JF-22

diameter of 4 metres (13 feet) & can

owned by the Institute of Mechanics,
generate extreme high airflow speeds
Chinese Academy of Sciences
of up to 10 kilometres (6.2 miles) per (IMCAS)
second.

capable of simulating hypersonic flight conditions up to Mach 30, which is

30 times the speed of sound
 Kapil Kathpal
1st India-France-UAE Trilateral
Maritime Exercise held in Gulf of Oman Defence News

Indian Navy’s INS (Indian Naval Ship) Tarkash participated there.

India Army signed its 2nd Procurement Contract with

Astrome Tech Pvt Ltd for “Tactical LAN Radio systems”

for reliable and interference-free communication in remote and difficult terrain

1st ACTCM Barge of the series of LSAM 15 (Yard 125)

delivered to Indian Navy at NAD (Karanja), Mumbai

12th bilateral Joint Military Exercise “Ex Ekuverin” at Chaubatia, Uttarakhand

started between India and Maldives at Uttarakhand
 Kapil Kathpal
Name Appointed As
Appointment & Resign
Sanjay Swarup CMD of Container Corporation of India Limited
V Anantharaman non-executive chairman of CIBIL
Amit Agrawal CEO of Unique Identification Authority of India (UIDAI)
Subodh Kumar Singh DG of the National Testing Agency (NTA)
Nitin Agarwal Director General (DG) of the Border Security Force
Amitava Mukherjee CMD NMDC and NMDC steel Ltd for another 3 mnths
Ritu Kalra vice president for finance and chief financial officer at
Harvard University.
Hardik Pandya Brand ambassador for Exter, Hyundai Motor’s Ltd
 Obituaries News
Name Profession
Silvio Berlusconi former Italian Prime Minister
Gitanjali Aiyar 1st English news presenters on Doordarshan(DD)
 IMPORTANT DAYS
Day Date Theme
UN World Oceans Day 08th June Planet Ocean: tides are changing
World Brain Tumour Day 08th June Protect yourself- keep away from stress
World Accreditation Day 09th June Accreditation: Supporting the Future of Global
Trade
World Doll Day 10th June Embracing Diversity in Dolls
World Day Against Child 12th June Social Justice for All. End Child Labour
Labour
International Albinism 13th June Inclusion is strength
Awareness Day
World Blood Donor Day 14th June Give Blood, Give Plasa, Share Life, Share Often
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