NATIONAL NEWS

Odisha Gunvatta Sankalp in Bhubaneswar

• The Government of Odisha, in collaboration with the Quality Council of India (QCI) and industry associations such as ASSOCHAM, FICCI, EEPC, OASME, PHDCCI, CIPET, and FHRAI, launched the Odisha Gunvatta Sankalp (Odisha Quality Mission) in Bhubaneswar.

• The objective of the mission is to promote and prioritize quality across various sectors in the state of Odisha, creating an ecosystem of quality that contributes to the progress and empowerment of Odisha.

• The launch of Odisha Gunvatta Sankalp aims to foster collaboration between policymakers, industry leaders, practitioners, and academia to drive the culture of quality in Odisha.

• The mission aspires to create a progressive and empowered Odisha by emphasizing the importance of quality in various sectors.

• The collaboration between the Government of Odisha, QCI, and industry associations demonstrates a collective effort to prioritize and promote quality for the overall development of the state.

Financial Assistance to Farmers Under Rythu Bandhu Scheme

• The Telangana Government has initiated the distribution of financial assistance to farmers for the Kharif season under the Rythu Bandhu Scheme.

• On the first day of distribution, an amount exceeding 640 crore rupees was directly deposited into the bank accounts of more than 22 lakh 55 thousand farmers who own less than one acre of land.

• According to official data, the 11th edition of the scheme will provide financial assistance totaling over 7720 crore rupees to around 70 lakh farmers for their Kharif crop.

• The Rythu Bandhu Scheme has contributed a cumulative amount of 72,910 crore rupees to farmers' accounts.

• Approximately five lakh new beneficiaries, including 1.5 lakh Podu farmers who own 4 lakh acres of Podu lands, will receive 10 thousand rupees per acre per year under the scheme.

• This additional support for Podu farmers will amount to around 300 crore rupees, which will be borne by the government exchequer.

World’s Largest Ramayan Temple in Bihar

• The construction work of the ‘world’s largest Ramayan temple’ started in the East Champaran district of Bihar.
• The Viraat Ramayan temple will be a three-storeyed structure completed by the end of 2025.
• The ‘Ramayan temple’ in Bihar will be taller than the 12th-century Angkor Wat temple complex in Cambodia.
• The estimated cost of the temple’s construction is ₹500 crore.
• The design of the temple draws inspiration from the Angkor Wat complex, as well as temples in Ramanathaswami temple in Rameshwaram and the Meenakshi Sundareshwarar temple in Madurai.
• The Ramayan temple will consist of 12 domes with the tallest reaching a height of 270 ft, and 22 sanctums for various deities, the temple will span 2,800 ft in length, 1,400 ft in width, and 405 ft in height.

INTERNATIONAL NEWS

Pakistan and China Sign $4.8 Billion Nuclear Power Plant Deal

• Pakistan and China recently have signed a $4.8 billion deal to construct a 1,200-megawatt nuclear power plant.

• The investment by China, which Pakistan considers its most dependable ally, is viewed as a significant achievement.

• The project, known as Chashma 5, will be located in the central province of Punjab.

• The memorandum of understanding (MOU) was signed between China National Nuclear Cooperation and Pakistan Atomic Energy Commission, marking the beginning of the project.

• The Chashma 5 project will aid Pakistan in transitioning away from reliance on fossil fuels and contribute to its nuclear energy production capacity.

BANKING

Indian Bank Partners with Manipal Technologies

• Manipal Technologies Limited (MTL) has partnered with state-owned Indian Bank to drive financial inclusion by offering customised banking products.

• It is to build a sustainable network of corporate business correspondents (CBCs) that will enhance the availability, affordability, and accessibility of financial services, particularly in underserved markets and rural areas.

• As part of this association, MTL will work closely with Indian Bank to offer tailor-made banking products in rural locations.

• The initial focus will be serving more than 600 locations and gradually expanding the presence in newer regions in states such as Tamil Nadu (TN), Chhattisgarh, Uttar Pradesh (UP), Kerala, Maharashtra, Haryana.
• The Indian Bank aims to empower individuals with seamless access to financial services, ranging from account opening, withdrawals, deposits, lead generation, opening FDs (fixed deposits), and applying for loans.

Aditya Birla Sun Life Insurance Launches New Guaranteed Pension Plan

• Aditya Birla Sun Life Insurance Company Limited (ABSLI), the life insurance arm of Aditya Birla Capital Limited (ABCL), has launched a new retirement solution called ABSLI Nishchit Pension Plan.

• The ABSLI Nishchit Pension Plan is a non-linked, non-participating individual pension plan.

• It allows policyholders to plan for their retirement by accumulating a 100% guaranteed corpus, which may be used to assure an uninterrupted income throughout the golden years.

• The Pension Plan offers customization options to policyholders based on their retirement goals.

• It provides flexible Premium Payment Term (PPT) and Policy Term (PT) options.

• It allows individuals to choose from various premium payment term durations, including 5, 6, 8, 10, 12 years, or regular pay options.

• The plan sets a maximum entry age of 65 years and a minimum entry age of 30 years.
• The minimum annualised premium required is 20,000.

RANKS, INDICES & REPORTS

Tata Power Becomes the Most Attractive Employer Brand

• Tata Power Company has emerged as India’s most ‘attractive employer brand’, followed by Amazon and Tata Steel, reveals the findings of Randstad Employer Brand Research (REBR) 2023.

• Tata Power was at the ninth spot in 2022.

• IT major Tata Consultancy Services secured the 4th position in the top 10 most ‘attractive employer brand’, followed by Microsoft, Samsung India, Infosys, Tata Motors, IBM and Reliance Industries.

• According to the report, employees rated automotive (77 per cent) as the most attractive sector followed by IT, ITeS and Telecom (76 per cent) and FMCG, Retail and e-commerce (75 per cent).
• Big Basket, the online megastore emerged as the most attractive start-up employer brand in the country.
• The report reveals that work-life balance, good reputation and attractive salary and benefits are the three most important drivers for the Indian workforce when choosing an employer.

AWARDS & PRIZES

Alappuzha Doctor K Venugopal Selected for IMA Award

• Dr K Venugopal, a doctor at Alappuzha's General Hospital, has been honored by the Indian Medical Association (IMA) for his contribution to the medical field.
• The award was instituted by the IMA on the occasion of National Doctor's Day.
• Dr K Venugopal has been selected for the award in the category of community service.
• He is Chief Consultant in Respiratory Medicine at General Hospital, Alappuzha (city in Kerala).
• The award ceremony will be held on July 1, 2023 at the IMA Headquarters in New Delhi.

APPOINTMENTS & RESIGNATIONS

US ISPF Board of Directors

• Mastercard CEO Michael Meibach joined the board of directors of the US-India Strategic and Partnership Forum (US ISPF).

• US ISPF serves as an important forum for business and government leaders to advance the next phase of growth in the US-India partnership.

• The strategic alliance aims to promote cooperation in various fields and the growth and development of the economies.

• The partnership between the United States and India aims to foster innovation, drive digital transformation, and address global challenges.

• US ISPF focuses on key sectors such as technology, energy, healthcare, manufacturing and agriculture.

Managing Director of DBS Bank India

• DBS Bank India appointed Rajat Verma as the Managing Director and Head of Institutional Banking in India.

• Rajat Verma joins DBS Bank India from HSBC India, where he held the position of Managing Director and Country Head of Commercial Banking in India.

• It is a Singaporean multinational banking and financial services corporation.

• The bank was formerly known as The Development Bank of Singapore Limited.

• Neeraj Mittal, the previous Head of Institutional Banking at DBS Bank India, has moved to a new role as Country Head of DBS Bank in Australia.

IMPORTANT DAYS

World MSME Day

• International Micro, Small and Medium Enterprises (MSME) Day or World MSME Day is observed across the world on 27 June every year.

• The day highlights the importance of MSMEs and their role as the backbone of the country's economy.

• The theme of MSME Day 2023 in India is ‘Future-Ready MSMEs for India@100’.

• The Global Council for the Promotion of International Trade celebrates the day with the theme "Building a Stronger Future Together".
• The Council is launching the #Brand10000MSMEs network, a platform for MSMEs across the globe to connect, learn and grow together.
• The United Nations (UN) designated June 27 as Micro, Small and Medium-Sized Enterprises Day.