Current Affairs | National | International | SSC | UPSC 11th June 2024

National News 

1. Modi clears PM-Kisan 17th instalment 

  • Prime Minister Narendra Modi has signed the release of the 17th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN Nidhi) scheme. 
  • The move will benefit more than 93 million farmers by disbursing more than Rs 20,000 crore. 
  • The 16th Installment of the PM KISAN scheme was released on 28th February 2024. 

What is PM-KISAN Nidhi? 

  • PM-KISAN Nidhi is a central government scheme launched in December 2018 to support the income of farmers by providing an annual financial assistance of Rs 6,000. 
  • The money is given in three equal instalments of Rs 2,000 every four months directly into the beneficiaries’ bank accounts through Direct Benefit Transfer. 
  • More than 93 million farmers had received Rs 2000 as the 16th instalment of PM Kisan Yojana. 

2.The PM was also approved a proposal for constructing three crores more houses under the PMAY. 

  • The government is implementing Pradhan Mantri Awas Yojana (PMAY) since 2015-16 to provide assistance to the eligible rural and urban households for construction of houses with basic amenities. 
  • Under PMAY, 4.21 crore houses have been completed for eligible poor families under the housing schemes in the last 10 years. 
  • All the houses constructed under PMAY are provided other basic amenities such as household toilets, LPG connection, electricity connection, functional household tap connection and so forth. 
  • National Human Rights Commission issues notice to four states over 'Nata Pratha' 
  • The National Human Rights Commission (NHRC) has issued notices to four states - Uttar Pradesh, Madhya Pradesh, Rajasthan and Gujarat - over 'Nata Pratha'. The notice follows a 2020 case in which a father sold his daughter for Rs 2.5 lakh and later filed a complaint with the commission after he was informed of her death. 
  • As part of the 'Nata Pratha' deal witnessed by villagers on July 11, 2019, the groom paid Rs 60,000 and the remaining amount was to be paid by January 10, 2020. 
  • The commission further said that when the groom was not successful in paying the remaining amount within the stipulated time, the father brought his daughter back and fixed her 'nata' with another man for Rs 32,000. 
  • The girl objected to this and went to live with her first husband in Gagarwa. She also complained to the Banswara SP, alleging that her father was an alcoholic and tried to fix her 'nata' with several boys to earn money. 
  • The police did not take any action on her complaint, and she committed suicide on June 16, 2020 by consuming poison. The NHRC investigation revealed that the father had lodged a complaint with the commission alleging the kidnapping and murder of his daughter to save himself from any action on the police complaint.
  • The research wing found that the 'nata pratha' is comparable to modern forms of prostitution. The committee suggested that apart from enacting a law, persons involved in forcing women into ‘nata pratha’ should be prosecuted under laws relating to human trafficking and for selling minor girls under the relevant provision of the POCSO Act. 
  • The National Human Rights Commission of India (abbreviated as NHRC) is a statutory body constituted on 12 October 1993 under the Protection of Human Rights Ordinance of 28 September 1993. 
  • Earlier after the retirement of former Supreme Court judge Arun Mishra from the post of chairperson of the National Human Rights Commission after a tenure of three years, the Centre appointed Vijaya Bharti Sayani as the acting chairperson. 
  • A notification issued by the Home Ministry said, "The President, under section 7(1) of the Protection of Human Rights Act, 1993, hereby authorises Smt. Vijaya Bharti Sayani, Member, National Human Rights Commission, to act as Chairperson, National Human Rights Commission with effect from 02.06.2024. 

3. Centre releases ₹1.39 lakh crore to States 

  • The Union Government released over ₹1.39 lakh crore to the States under the devolution mechanism. 
  • Based on the Finance Commission’s formula, 41 per cent of the Centre’s tax revenue is given to the States through the devolution mechanism. 
  • Uttar Pradesh got the highest share with more than ₹25,000 crore, followed by Bihar (₹14,000 crore) and Madhya Pradesh (over ₹10000 crore). 
  • The Interim Budget 2024-25 has a provision of over ₹12 lakh crore towards devolution of taxes to States. With this release, the total amount devolved (for FY 2024-25) to States till June 10, 2024, is over ₹2.79 lakh crore. 

International News 

4. India welcomes Egypt, Iran, UAE, Saudi Arabia and Ethiopia joining BRICS 

  • India on Monday welcomed Egypt, Iran, UAE, Saudi Arabia and Ethiopia joining the BRICS as their representatives attended for the first time a key meeting of the grouping hosted by Russia. 
  • Senior diplomat Dammu Ravi led the Indian delegation at the BRICS Foreign Ministers' Meeting in Nizhny Novgorod, in western Russia. 
  • "A significant meeting in the format of the expanded BRICS family. India wholeheartedly welcomes the new membership," the spokesperson of the Ministry of External Affairs Randhir Jaiswal said. The meeting on Monday was the first ministerial meeting following BRICS expansion in 2023 when Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE joined Brazil, Russia, India, China, and South Africa as full-fledged members. 


  • Ravi, Secretary (Eco=/nomic Relations) in MEA, led the Indian delegation at the BRICS Foreign Ministers Meeting in Nizhny Novgorod, it said. The ministers reiterated their commitment to multilateralism and upholding international law. They voiced their support for a comprehensive reform of the UN, including its Security Council, with a view to making it more democratic, representative, effective and efficient. 

5. French President Emmanuel Macron announces snap polls after defeat in European Parliamentary election 

  • French President Emmanuel Macron has announced parliamentary elections later this month in the wake of his rival Marine Le Pen's big win in the European Parliament polls. 
  • Announcing the dissolution of Parliament, he said two phases of voting would be held on June 30 and July 7. While the Olympics will begin on July 26, 2024. 
  • He admitted that the result of the EU elections is "not a good result for the parties that defend Europe." Macron said that far-right parties in France, including the topscoring National Rally (RN), managed to secure more than 32 per cent of the votes in the EU elections in France.
  • The RN list, led by 28-year-old Jordan Bardella, secured 32.3 to 33 per cent of the votes, compared to 14.8 to 15.2 per cent for a coalition led by Macron's Renaissance party. Legislative elections are usually held in France every five years, with the next elections due in mid2027. 

European Parliament elections 

  • Dramatic victories by right-wing parties in France and Germany failed to overturn a centrist working majority in the European Parliament, the EU's lower house, with Ursula von der Leyen set to remain president of the European Commission until 2029. 
  • Her centre-right European People's Party (EPP) group won 184 of the 720 seats, according to provisional estimates from all 27 EU countries. In second place came the slightly weaker centre-left Socialists & Democrats (S&D) group, with 139 MPs, followed by the much weaker liberal Renew group with 80 seats. 
  • Italy's far-right Brothers - the party of Prime Minister Giorgia Meloni - won a clear victory in the European elections. The group received 28.8% of the vote - 24% ahead of the social democratic Partito Democratico. 
  • It is the only parliamentary institution of the European Union (EU) with 720 seats elected directly by EU citizens aged 18 years or over. Together with the Council of the European Union (also known as the 'Council'), it carries out the legislative functions of the EU. 

6. BRICS Foreigners Ministers meeting held in Russia 

  • BRICS (Brazil-Russia-India-China-South Africa) Foreign Ministers meeting begins in the Russian city of Nizhny Novgorod. 
  • The two-day meeting chaired by Russian Foreign Minister Sergey Lavrov comes ahead of the BRICS Summit slated to be held this October. 
  • Last year, S Jaishankar represented India at the BRICS foreign ministerial meeting held in South Africa’s Cape Town. 
  • This is the first meeting of foreign ministers since the expansion of BRICS in 2023. 
  • The 10 full members of the association include Brazil, Russia, India, China, and South Africa with new members Egypt, Iran, UAE, Saudi Arabia, and Ethiopia joining the grouping in 2023. 
  • Russia took over the chairmanship of BRICS on January 1, 2024. 

Appointment News

7. Rajnath Singh gets Defence Ministry in Modi Cabinet 3.0 

  • Narendra Modi's Modi 3.0 took oath as Prime Minister on 9 June 2024 with 30 Cabinet Ministers, 5 Ministers of State with Independent Charge and 36 Ministers of State (MoS). PM Modi's new Council of Ministers has 72 members and includes 11 ministers from NDA allies - TDP, JDU, LJP, Shiv Sena and others. 

The ministry allocation was done on 10 June 2024. Key Ministries - 

  1. Narendra Modi, Prime Minister Ministry of Personnel, Public Grievances and Pensions; Department of Atomic Energy; Department of Space 
  2. Rajnath Singh Ministry of Defence 
  3. Amit Shah Ministry of Home Affairs
  4. Nitin Gadkari Minister of Road Transport and Highways 
  5. JP Nadda Ministry of Health 
  6. Shivraj Singh Chouhan Ministry of Agriculture 
  7. Nirmala Sitharaman Ministry of Finance 
  8. S Jaishankar Ministry of External Affairs 
  9. Manohar Lal Khattar Housing and Urban Affairs, Power 
  10. HD Kumaraswamy Minister of Heavy Industries; Minister of Steel 
  11. Piyush Goyal Minister of Commerce and Industry 
  12. Dharmendra Pradhan Ministry of Education 
  13. Jitan Ram Manjhi Ministry of Micro, Small and Medium Enterprises 
  14. Lallan Singh Minister of Panchayati Raj; Minister of Fisheries, Animal Husbandry and Dairying
  15. Sarbananda Sonowal Ministry of Ports, Shipping and Waterways 
  16. Virendra Kumar Ministry of Social Justice 
  17. Ram Mohan Naidu Ministry of Aviation 
  18. Prahlad Joshi Minister of Consumer Affairs 
  19. Jual Oram Minister of Tribal Affairs 
  20. Giriraj Singh Minister of Textiles 
  21. Ashwini Vaishnaw Minister of Railways, Minister of Information and Broadcasting 
  22. Jyotiraditya Scindia Minister of Development of North Eastern Region and Telecommunications 
  23. Bhupendra Yadav Minister of Environment, Forest and Climate Change 
  24. Gajendra Singh Shekhawat Minister of Culture; Minister of Tourism 
  25. Annapurna Devi Minister of Women and Child Development 
  26. Kiren Rijiju Minister of Parliamentary Affairs; Minister of Minority Affairs 
  27. Hardeep Singh Puri Minister of Petroleum and Natural Gas 
  28. Mansukh Mandaviya Minister of Labour and Employment; Minister of Youth Affairs and Sports 
  29. G Kishan Reddy Minister of Coal, Mines 
  30. Chirag Paswan Minister of Food Processing Industries 
  31. CR Patil Minister of Jal Shakti 

Minister of State (Independent Charge) 

  1. Rao Indrajit Singh Ministry of Statistics and Programme Implementation; Ministry of Planning; Ministry of Culture 
  2. Dr Jitendra Singh Ministry of Science and Technology, Ministry of Earth Sciences, Ministry of Personnel, Public Grievances and Pensions 
  3. Arjun Ram Meghwal Ministry of Law and Justice; Ministry of Parliamentary Affairs 
  4. Jadhav Pratap Rao Ministry of AYUSH; Health and Family Welfare 
  5. Jayant Chaudhary Ministry of Skill Development and Entrepreneurship; Ministry of Education 

Minister of State (MoS) 

  1. Jitin Prasada Commerce and Industry; Electronics and Information Technology 
  2. Shripad Yesso Naik Ministry of Power 
  3. Pankaj Chaudhary Ministry of Finance 
  4. Krishan Pal Ministry of Cooperation 
  5. Ramdas Athawale Ministry of Social Justice and Empowerment
  6. Ram Nath Thakur Ministry of Agriculture and Farmers Welfare 
  7. Nityanand Rai Ministry of Home Affairs 
  8. Anupriya Patel Health and Family Welfare; and Chemicals and Fertilizers. 
  9. V Somanna Ministry of Jal Shakti, Ministry of Railways 
  10. Chandrasekhar Pemmasani Ministry of Rural Development, Ministry of Communications 
  11. SP Singh Baghel Ministry of Fisheries, Animal Husbandry and Dairying; Ministry of Panchayati Raj 
  12. Sobha Karandlaje Ministry of Micro, Small and Medium Enterprises 
  13. Kirti Vardhan Singh Ministry of Environment, Forest and Climate Change; Ministry of External Affairs 
  14. BL Verma Ministry of Consumer Affairs, Food and Public Distribution; Ministry of Social Justice and Empowerment 
  15. Shantanu Thakur Ministry of Ports, Shipping and Waterways 
  16. Suresh Gopi Ministry of Petroleum and Natural Gas; Minister of State in the Ministry of Tourism 
  17. L Murugan Ministry of Information and Broadcasting; Ministry of Parliamentary Affairs 
  18. Ajay Tamta Minister of Road Transport and Highways 
  19. Bandi Sanjay Kumar Ministry of Home Affairs 
  20. Kamlesh Paswan Ministry of Rural Development 
  21. Bhagirath Choudhary Ministry of Agriculture and Farmers Welfare 
  22. Satish Chandra Dubey Ministry of Coal, Ministry of Mines 
  23. Sanjay Seth Ministry of Defence 
  24. Ravneet Singh Bittu Ministry of Food Processing Industries; Ministry of Railways 
  25. Durga Das Uikey Ministry of Tribal Affairs 
  26. Defence Nikhil Khadse Ministry of Youth Affairs and Sports 
  27. Sukanta Majumdar Ministry of Education, Ministry of Development of North Eastern Region 
  28. Savitri Thakur Ministry of Women and Child Development 
  29. Tokhan Sahu Ministry of Housing and Urban Affairs. 
  30. Raj Bhushan Chaudhary Ministry of Jal Shakti 
  31. Bhupati Raju Srinivas Verma Ministry of Heavy Industries, Ministry of Steel 
  32. Harsh Malhotra Minister of Road Transport and Highways 
  33. Nimuben Jayantibhai Bambhania Ministry of Consumer Affairs, Food and Public Distribution 
  34. Muralidhar Mohol Ministry of Cooperation, Ministry of Civil Aviation 
  35. George Kurien Ministry of Minority Affairs, Ministry of Fisheries, Animal Husbandry and Dairying 
  36. Pabitra Margherita Ministry of External Affairs, Ministry of Textiles 

8. Prem Singh Tamang sworn in as Sikkim CM for 2nd time 

  • Sikkim Krantikari Morcha (SKM) supremo Prem Singh Tamang took oath as the Chief Minister of the Himalayan state for the second consecutive term. 
  • The 56-year-old politician was administered the oath of office and secrecy by Governor Lakshman Prasad Acharya at a function held in Paljor Stadium in Gangtok. 
  • Twelve ministers, including the chief minister, were also sworn in. According to the constitution, the maximum strength of the Sikkim Council of Ministers shall be twelve. 
  • The SKM was swept back into power in the recent concluded state legislative assembly election by winning 31 out of 32 seats of the Sikkim Legislative Assembly. 

About Sikkim 

  • Capital – Gangtok 
  • Chief Minister – Prem Singh Tamang (2nd time) 
  • Governor – Lakshman Prasad Acharya 

Science & Technology News 

9. ISRO releases images of sun captured by Aditya-L1 during May 

  • Two of the remote sensing payloads aboard India's maiden solar mission, Aditya-LI, have captured images of the sun and its dynamic activities during the solar storm, which occurred in May. 
  • Between May 8 and 15, several X-class and M-class flares erupted in the active region AR13664 on the sun. This was associated with coronal mass ejections (CMEs) during May 8 and 9. 
  • The ISRO said that during these eruptive events, two remote sensing instruments, Solar UltraViolet Imaging Telescope (SUIT) and Visible Emission Line Coronagraph (VELC), were in baking and calibration modes, respectively, and could not observe the event during May 10 and 11. However, SUIT and VELC doors were opened on May 14. 
  • Apart from capturing images, these payloads have made important observations. 
  • On June 10, the ISRO released six images of the sun taken by the SUIT payload at different wavelengths. The images were acquired by the payload on May 17. 
  • According to the ISRO, these images will help in studying solar flares, energy distribution and sun spots, understanding and predicting space weather, and monitoring solar activity and UV radiation over a wide wavelength range, and also aid in the study of long-term solar variations. In addition, the VELC payload also carried out observations in one of the spectroscopic channels for the emission line 5303 Angstrom. 
  • Raster scans of the solar corona were carried out on May 14 to capture the coronal activities in this particular spectral line. 
  • Two other remote sensing payloads, SOLEXS and HELIOS, captured these events between May 8 and 9. 
  • The two in-situ payloads, ASPEX and MAG, captured this event on May 10 and 11 during its passage through the sun-earth L1 point (L1). 

Sports News

10. India's tennis player Sumit Nagal won the singles title of Heilbronn Neckarcup Challenger in Germany 

  • India's tennis player Sumit Nagal won the Heilbronn Neckarcup Challenger in Germany. He defeated Switzerland's Alexander Ritschardt 6-1, 6-7, 6-3 in the men's singles title match. 
  • He also climbed 18 places in the live ATP rankings to reach an all-time high world ranking of 77th. Nagal has 713 ATP points. This was Nagal's sixth ATP Challenger win of his career and second this year after winning the Chennai Open title on home soil earlier this year. 
  • With this win, Sumit almost qualified for the upcoming Paris Olympics. The last time a player from India was in the Olympic main draw was in the 2012 Games when Somdev Devvarman made it thanks to a wildcard. 
  • The 26-year-old Nagal, who is currently the best-ranked Indian singles player, has won four ATP Challenger titles since 2023 and the win in Heilbronn was his fourth title on clay tennis courts. 

11. UP to organize 2025 edition of MotoGP Bharat in Noida 

  • MotoGP India will be held in Buddha Circuit, Greater Noida Gautam Buddha Nagar from 2025 to 2029. 
  • The Uttar Pradesh government will sign a contract with Dorna Sports and its Indian partner, Fairstreet Sports, to organize the MotoGP event in Noida. 
  • To organize the event through its Invest UP department, the state government will raise crore. 

12. Sumit Nagapal wins his 6th ATP Challenger Tennis Title 

  • The Indian men’s tennis player Sumit Nagpal won the men’s singles title at the Heilbronn Neckarcup 2024 ATP Challenger Tennis tournament in Germany. 
  • It was the sixth ATP Challenger title for India’s top-ranked men’s tennis singles player. 
  • In the final, Sumit Nagpal defeated Alexander Ritschard of Switzerland in three sets 6-1, 6(5)-7(7), 6-3. 
  • This win will improve the ATP ranking of Sumit Nagpal making him eligible for the 2024 Summer Paris Olympics. 
  • The ATP Challenger Tour Tennis Tournament is organised by the apex men’s professional tennis organisation, the Association of Tennis Professionals (ATP). 
  • It is the second-highest-ranking tennis tournament organised by the ATP after the ATP tour. 

13. Saurabh Sharma strikes Twin Gold in World Para Athlete Grand Prix 

  • Saurabh Sharma, an athlete from Himachal Pradesh’s Hamirpur district, has won two gold medals in the ongoing World Para Athlete Grand Prix in the Nottwil city of Switzerland. 
  • Sharma emerged victorious in 155-metre and 5000-metre races. 
  • Sharma, who hails from Ropa Khayah village of Nadaun area in Hamirpur district, is representing the Indian team in the T12 category. 
  • He had earlier won seven gold medals at the national level. 

14. Puja Tomar becomes first Indian to win in UFC 

  • Puja Tomar made history as the first Indian to win a fight in the Ultimate Fighting Championship (UFC), defeating Brazil’s Rayanne dos Santos at UFC Louisville 2024. 
  • Hailing from Muzaffarnagar, Uttar Pradesh, Puja had already broken new ground last year by becoming the first Indian woman to secure a UFC contract. 
  • In her debut fight in the women’s strawweight division, she triumphed by split decision with scores of 30-27, 27-30, and 29-28. 

15. Max Verstappen won Canadian Grand Prix 2024 

  • Dutch-Belgian racing driver Max Verstappen of Red Bull has won the Canadian Grand Prix 2024. 
  • Verstappen’s triumph at the Canadian Grand Prix 2024 marked his 60th Formula 1 win and his sixth victory in nine races this season. 
  • McLaren’s Lando Norris secured an impressive second-place finish, while Mercedes’s George Russell clinched the third spot, achieving the team’s first Grand Prix podium finish for the 2024 Formula 1 season. 
  • The Canadian Grand Prix 2024 is also known as the AWS GRAND PRIX DU CANADA 2024. 

Recent 2024 Grand Prix Winner 

  • Monaco Grand Prix – Ferrari’s Charles Leclerc (Monacco) 
  • Emilia Romagna Grand Prix – Red Bull’s Max Verstappen (Netherlands) 
  • Miami Grand Prix – McLaren’s Lando Norris (British) 
  • Chinese Grand Prix – Red Bull’s Max Verstappen (Netherlands) 
  • Japanese Grand Prix – Red Bull’s Max Verstappen (Netherlands) 
  • Australian Grand Prix – Ferrari’s Carlos Saina (Spain) 
  • Saudi Arabian Grand Prix – Red Bull’s Max Verstappen (Netherlands) 
  • Bahrain Grand Prix 2- Red Bull’s Max Verstappen (Netherlands) 

Important day 

16. 11 June – International Day of Play 

  • International Day of Play is observed on 11 June. This year, It is the first edition of International Day of Play. 
  • The Day of Play on 11 June was added to the list of global annual observances recognised by the United Nations, following a successful campaign by Save the Children, the LEGO Group and the LEGO Foundation and other partners, to recognise play as a critical developmental activity for children. 
  • Children have a right to play under the UN Convention on the Rights of the Child 1989, yet around 70% of adults aren’t aware of this right, according to toy manufacturer LEGO’s global Play Well Study 2024, underscoring the need for an international day. 

Obituary News

17. Mumbai Cricket Association honorary president Amol Kale passes away during India-Pak match 

  • Amol Kale, aged 47, the Mumbai Cricket Association (MCA) honorary president, passed away following a cardiac in New York. 
  • Kale, along with MCA secretary Ajinkya Naik and apex council member Suraj Samat, had watched India’s thrilling win against Pakistan in T20 World Cup from the stadium on June 9. 
  • Kale was elected as the MCA president, after defeating World Cup champion Sandeep Patil in a closely-contested battle in October 2022. 
  • He was instrumental in the MCA deciding to double Mumbai’s senior men’s match-fees starting the forthcoming season.

Books & Releases News

18. Microsoft co-founder Bill Gates announces his autobiography “Source Code” 

  • Microsoft co-founder Bill Gates has announced his much-awaited autobiography, “Source Code: My Beginnings”. The book is scheduled to hit the market on February 4, 2025. 
  • Gates announced that pre-orders are open for his memoir, which he dubbed 'Origin Story' in a blog post. Gates is a well-known author of several books on a variety of topics ranging from business and technology to global health and climate change. 
  • “Source Code” will explore his journey through his early life, as a restless young man grappling with the challenges of youth and the complexities of a family dynamic. 
  • The autobiography will also shed light on key moments, such as nearly being kicked out of college and the sudden loss of a loved one, events that deeply influenced his personal and professional trajectory. 
  • Beyond personal revelations, Source Code will offer insights into the founding of Microsoft, one of the world’s biggest tech giants. Gates will reflect on the bold decision to drop out of school and bet on an industry that was the personal computer revolution. 
  • Gates said that after ‘Source Code’, he plans to write two more memoirs, each of which will detail his work with Microsoft and his philanthropy. 

Banking & Finance News 

19. PhonePe partners with Sri Lanka’s ‘PickMe’ for contactless payment service for Indian travellers 

  • PhonePe announced its collaboration with Sri Lanka’s leading ride-hailing platform ‘PickMe’ to enable seamless UPIbased QR payments for Indian travellers in Sri Lanka. 
  • This partnership is a big step towards improving their travel experience by facilitating cashless transactions on PickMe rides right from the moment they step out of the Bandaranaike International Airport. 
  • By integrating PhonePe’s UPIbased QR payment system into its platform, PickMe aims to reduce that stress for Indian travellers travelling to Sri Lanka. PhonePe users can pay for their rides securely and instantly with UPI. 
  • About PhonePe Launched in August 2016, PhonePe Group is India’s leading fintech company. The PhonePe digital payments app has expanded rapidly, now with over 535 million registered users and a digital payment acceptance network of 39 million merchants. 
  • The company has expanded into various financial services including insurance, lending and wealth management, as well as new consumer tech businesses like Pincode (hyperlocal e-commerce) and Indus App Store (India's first localized app store). PickMe, founded in 2015, is Sri Lanka's leading ride-hailing and food delivery platform. 

Key Agreement

  • Earlier NIPL entered into an MoU with France's Lyra Network to accept UPI and RuPay cards in France. In July 2021, a collaboration took place between NPCI International Payments Limited (NIPL) and the Royal Monetary Authority (RMA) of Bhutan. 
  • In October 2022, an agreement was signed between NPCI and the Central Bank of Oman (CBO). RuPay card and UPI connectivity was launched between India and Mauritius. 
  • Nepal's adoption of UPI in 2022 is a significant step in the digital transformation of the country's economy. PM Modi and UAE President Sheikh Mohammed bin Zayed Al Nahyan launched UPI services in Abu Dhabi on 13 February 2024. 

20. SEBI honoured with 'Best Conduct of Business Regulator' award by The Asian Banker 

  • The Securities and Exchange Board of India (SEBI) has received the 'Best Conduct of Business Regulator' award in Asia Pacific by The Asian Banker. The award was received by SEBI Whole-time Member Kamlesh Chandra Varshney at a ceremony held in Hong Kong. 
  • SEBI's notable achievements include the introduction of the T+1 settlement cycle. This phased initiative began in 2021 and was fully implemented by January 2023, significantly reducing the time it takes for investors to access their funds after trading. This change has enhanced market liquidity and efficiency. 
  • The Asian Banker has recognised SEBI for its stringent rule enforcement and innovative practices. These efforts have ensured fair treatment of consumers and maintained market soundness, thereby raising the standards of business conduct in India's financial markets.
  • The T+1 settlement cycle aims to enhance market efficiency and reduce settlement risks. The US is also set to adopt this system by 2024, underlining the global relevance of SEBI's initiatives. 

Securities and Exchange Board of India (SEBI) 

  • Madhabi Puri Buch, former fulltime member of the Securities and Exchange Board of India (SEBI), has been appointed as its new chairperson, the first woman to head SEBI. SEBI launched Saa₹thi - a mobile app on investor education. 
  • SEBI is a statutory body (a nonconstitutional body established by Parliament) established on April 12, 1992 under the provisions of the Securities and Exchange Board of India Act, 1992. 
  • SEBI's core function is to protect the interests of investors in securities and to promote and regulate the securities market. SEBI is headquartered in Mumbai and has regional offices in Ahmedabad, Kolkata, Chennai and Delhi.

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