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DAILY DOSE 1st JULY -2024 CURRENT AFFAIRS
1) India’s Forex Reserves: Update
- India’s forex kitty jumps by USD 816 mln to USD 653.71 bln
- India’s forex reserves witnessed an increase of USD 816 million, reaching USD 653.711 billion for the week ending June 21, according to the Reserve Bank of India (RBI).
Components of Forex Reserves:
- Foreign Currency Assets (FCA): it is the major component of India’s forex reserves.
- It has decreased by USD 106 million to USD 574.134 billion.
- FCA expressed in dollar terms reflects the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen.
- Gold Reserves: it has increased by USD 988 million. Total gold reserves stood at USD 956 billion during the week.
- Special Drawing Rights (SDRs): it decreased by USD 57 million. SDRs totaled USD049 billion.
- India’s Reserve Position with the IMF: Decreased by USD 9 million.
- The reserve position was USD 4.572 billion.
2) Mutual Evaluation Report Of India:
- The Mutual Evaluation Report of India, adopted at the FATF plenary in Singapore from June 26 to 28, places India in the “regular follow-up” category, a status shared by only four other G-20 countries.
- This distinction highlights India’s significant progress in combating money laundering (ML) and terrorist financing (TF).
- Financial Action Task Force (FATF) is an inter-governmental policy-making and standard-setting body dedicated to combatingmoney laundering and terrorist financing.
- Objective is to establish international standards, and to develop and promote policies, both at national and international levels, to combat money laundering and the financing of terrorism.
3) International North-South Transport Corridor (INSTC):
- Russia has sent two trains carrying coal to India through the International North-South Transport Corridor (INSTC) for the first time.
- The consignment will travel over 7,200km from St. Petersburg, Russia to Mumbai port via Bandar Abbas port of Iran.
- International North-South Transport Corridor (INSTC) is a 7,200-kilometer Multimode Transit Route linking the Indian Ocean and the Persian Gulf to the Caspian Sea via Iran and onward to northern Europe via St. Petersburg in Russia.
- It connects ship, rail, and road routes for moving cargo between India, Iran, Azerbaijan, Russia, Central Asia, and Europe.
4) Joint Sitting Of Parliament And Leader Of House:
- The President of India recently addressed the joint sitting of both houses of Parliament. It was the first time he addressed the newly elected 18th Loksabha.
- A joint sitting involves both houses of Parliament (Lok Sabha and Rajya Sabha) meeting together.
- There are two main types of joint sittings in the Indian parliamentary system.
- First is the presidential address under Article 87 and
- Second is the resolution of legislative deadlocks under Article 108.
- Article 87 of the Indian Constitution outlines when the President addresses both Houses of Parliament.
5) National Statistics Day 2024: Theme
- National Statistics Day is celebrated in India on June 29 every year.
- National Statistics Day is celebrated in recognition of the notable contributions made by Professor (late) Prasanta Chandra Mahalanobis in the fields of statistics and economic planning.
- The main objective of celebrating Statistics Day is the creation of public awareness, especially among the younger generation, on the role and importance of statistics in socio-economic planning and policy formulation for the development of the country.
- Since 2007, Statistics Day has been celebrated every year with a theme of contemporary national importance.
6) Interest Equalisation Scheme:
- The Department of Commerce has extended the Interest Equalisation Scheme for pre- and post-shipment rupee export credit for Micro, Small and Medium-scale (MSME) exporters till August 31.
- Interest Equalisation Scheme was first implemented on 1st April 2015, to provide pre- and post-shipment export credit to exporters in rupees.
- It was initially valid for 5 years, up to 31.3.2020.
- The scheme has been continued thereafter, including a one-year extension during COVID and further extensions and fund allocations.
- It is being implemented by the RBI through various Public and non-Public Sector banks that provide pre- and post-shipment credit to the exporters.
7) National Quality Assurance Standards (NQAS) Assessment:
- The Union Ministry of Health and Family Welfare launched the National Quality Assurance Standards (NQAS) assessment, Dashboard for IPHS and Spot Food Licence Initiative to provide “Healthcare for All” and promote wellness.
- National Quality Assurance Standards (NQAS) assessment has been launched for Ayushman Arogya Mandirs (AAM) and Integrated Public Health Laboratories (IPHL) in compliance with IPHS standards.
- IPHS is a digital platform for real-time monitoring of public health facilities that provides a comprehensive overview of the assessment and compliance status of public health facilities.
8) RIMPAC Exercise:
- Indian multi-role stealth frigate INS Shivalik, mission deployed in the South China Sea and North Pacific Ocean, has reached Pearl Harbour in Hawaii to take part in the Rim of the Pacific (RIMPAC) exercise.
- Rim of the Pacific (RIMPAC) Exercise is the world’s largest international maritime exercise, being held in Hawaii.
- It is aimed at enhancing interoperability and building trust among the navies of friendly foreign countries.
- It is being held under the theme of Partners: Integrated and Prepared, which runs until August 1.
- It is led by the US Navy, approx 29 countries are participating in the current edition of the multi-dimensional exercise.
9) Pench Tiger Reserve : AI System For Early Detection Of Forest Fires
- The Pench Tiger Reserve recently launched an advanced Artificial Intelligence (AI) system for the early detection of forest fires.
- Pench Tiger Reserve is located in the southern reaches of the Satpura hillsin the Seoni and Chhindwara districts in Madhya Pradesh and continues in Nagpur district in Maharashtra as a separate Sanctuary.
- It is named after the Pench River,which flows from north to south through the Reserve.
- It comprises of the Indira Priyadarshini Pench National Park, the Pench Mowgli Sanctuary,and a buffer.
- The area of the Pench Tiger Reserve and the surrounding area is the real-story area of Rudyard Kipling’s famous “The Jungle Book”.
10) South China Sea : In News
- India recently said it opposes unilateral actions seeking to change the status quo by force in South China Sea amid concerns over China’s escalatory moves against the Philippines’ maritime operations in the region.
- South China Sea is an arm of the western Pacific Ocean that borders the Southeast Asian mainland.
- It embraces an area of about 1,423,000 square miles (3,685,000 square km), with a mean depth of 3,976 feet (1,212 metres).
- It is bordered by China, Taiwan, Philippines, Malaysia, Indonesia, Brunei, and Vietnam.
- The southern boundary of the South China Sea is a rise in the seabed between Sumatra and Borneo, and the northern boundary stretches from the northernmost point of Taiwan to the coast of Fujian province, China, in the Taiwan Strait.
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