Current Affairs - June 13, 2024 Current Affairs

India and the UAE have introduced a Local Currency Settlement System (LCSS) to facilitate bilateral trade transactions in Indian Rupees and UAE Dirhams, reducing dependency on the US Dollar. This initiative aims to streamline trade processes, lower transaction costs, and strengthen economic ties between the two nations through direct currency settlements.

India's retail inflation, measured by the Consumer Price Index (CPI), eased to a 12-month low of 4.75% in May 2024, down slightly from 4.83% in April. This figure falls within the Reserve Bank of India's target range of 2-6%, indicating a stable inflationary trend.

Belarus is participating in joint drills with Russia focused on tactical nuclear weapons, aimed at enhancing military readiness and responding to perceived provocations from Western nations. These exercises underscore strategic responses amid heightened tensions, particularly in relation to Ukraine and NATO countries.

Scientists recently identified a new species of great ape, Buronius manfredschmidi, from fossil remains in Bavaria. This species, dating back 11 million years, is notably smaller than other known great apes, similar in size to a human toddler, and represents a significant discovery in understanding the evolution of great apes in Europe during the Miocene era.

The Assam government has launched the 'Nijut Moina' scheme, offering monthly stipends to female students from class 11 to post-graduation for the next 5 years. This initiative aims to discourage child marriages by providing financial support to girls studying at different educational levels: Rs 1,000 per month for classes 11 and 12, Rs 1,250 for degree students, and Rs 2,500 for post-graduation students. The scheme is part of Assam's efforts to empower girls through education and reduce social barriers like early marriages.

International Albinism Awareness Day is observed globally on June 13th each year. This day is dedicated to increasing awareness about albinism, a genetic condition characterized by the absence of melanin pigment in the skin, hair, and eyes. The day underscores the importance of understanding and supporting individuals with albinism, promoting their inclusion in society, and advocating for their healthcare needs, including sun protection to prevent skin cancer.

Prem Prabhakar has been appointed as the Managing Director and Chief Executive Officer of SBICAP Ventures Limited (SVL), effective from June 4, 2024. He brings extensive banking experience from his tenure at the State Bank of India, specializing in treasury operations and strategic leadership. As the new MD and CEO, Prabhakar will lead SVL in achieving its growth objectives and enhancing investor relations, building on the firm’s portfolio of alternative asset management, including funds like the TDC Fund and Neev Fund.

Infosys, a leading information technology company, has been recognized among the 100 most valuable global brands for three consecutive years. This acknowledgement underscores Infosys' standing as a prominent global brand in the IT sector, driven by its innovative approach to enterprise AI, cloud solutions, and commitment to digital skilling initiatives worldwide.

TIDCO (Tamil Nadu Industrial Development Corporation) is collaborating with US aircraft major Boeing to investigate Urban Air Mobility solutions in Chennai. This initiative aims to introduce air taxis or 'flying cars' that can vertically take off and land, potentially transforming urban transportation in the city. The partnership seeks to develop and implement a roadmap for integrating advanced aerial technologies into Chennai's infrastructure, marking a significant step towards futuristic transportation solutions.

Nagaland is set to conduct Urban Local body elections after a hiatus of 20 years, with 669 candidates, including 238 women, contesting for various positions. This election marks a significant milestone as it includes 33 per cent reservation for women candidates, reflecting efforts towards inclusive governance and representation in the state.

The National Commission for Indian System of Medicine (NCISM) celebrated its 4th foundation day with the 'PRANA' Protecting Rights and Novelties at the ASUS conference. This event, conducted in collaboration with AICTE and the Ministry of Education’s Innovation Cell, focused on exploring innovative aspects of Indian Systems of Medicine (ISM) that could be patented, commercialized, and transferred through technology, thereby supporting the growth of startups in the field.

Adani Defence and Aerospace have announced a strategic cooperation agreement with the UAE-based EDGE Group, aiming to integrate their defence and aerospace capabilities. This partnership focuses on enhancing military capabilities through joint product development, research facilities, and technological advancements in the defence and aerospace sectors, emphasizing bilateral cooperation between India and the UAE on a global scale.