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CURRENT AFFAIRS : BANKING & FINANCE

RBI imposes Rs 20 lakhs penalty on Manappuram Finance for rule violations

• The Reserve Bank of India (RBI) has imposed ₹20 lakhs monetary penalty on Manappuram Finance for non-compliance with certain provisions of Non-Banking Financial Company (NBFC).
• This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 58G (1) (b) read with section 58B (5) (aa) of the Reserve Bank of India Act, 1934."

Reason :

• The RBI imposed this penalty on the NBFC as it did not classify certain gold loan accounts with overdues of more than 90 days as Non-Performing Assets (NPAs).
• It did not ensure maintenance of the mandated Loan-to-Value (LTV) ratio in certain gold loan accounts during FY 2020-21.
• This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers .

What is a Non-Banking Financial Company (NBFC)?

• A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/ securities issued by the Government or local authority or other marketable securities.

Difference between banks & NBFCs?

• NBFC cannot accept demand deposits
• NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself
• Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy governors : Mahesh Kumar Jain, M. Rajeshwar Rao,Michael Patra and T. Rabi Shankar

About Manappuram Finance Ltd :

• Established :1949
• Headquarters : Thrissur, Kerala
• MD & CEO : V.P. Nandakumar

Motilal Oswal AMC launches India’s first-ever Nifty microcap 250 index fund

• Motilal Oswal Asset Management Company (MOAMC) has launched Motilal Oswal Nifty Microcap 250 Index Fund, India’s only passive fund offering exposure to microcap stocks.

Aim :

• To provide investors an opportunity to participate in the growth potential of microcap stocks.
• The New Fund Offer (NFO) period commences on 15th June and closes on 29th June 2023.

About Motilal Oswal Nifty Microcap 250 Index Fund :

• Motilal Oswal Nifty Microcap 250 Index Fund is an open-ended fund replicating/tracking the total returns of the Nifty Microcap 250 Index.
• The minimum application amount for Motilal Oswal Nifty Microcap 250 Index Fund is ₹500 and in multiples of Re 1
• The scheme's investment objective is to provide returns that, before expenses, correspond to the total returns of the securities as represented by the Nifty Microcap 250 Index, subject to tracking error.
• However, there is no guarantee or assurance that the AMC will achieve the scheme's investment objective.
• The Indicative Base Total Expense Ratio of the fund: Regular – 1.00%, Direct – 0.40%
• The Nifty Microcap 250 Index is designed to measure the performance of the top 250 companies excluding those already present in the Nifty 500 constituents.
• The index is well-diversified, with its top 10 holdings accounting for only 11% as against 59% in the Nifty 50 Index.
• Further, it provides diversified exposure to sectors like Industrials, Consumer Discretionary, Commodities, and Healthcare that are usually underweight in broad-based market indices.

About Motilal Oswal Asset Management Company :

• Established : November 14, 2008
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Navin Agarwal

PhonePe launches payment gateway  that Offers Free Onboarding To New Merchants

• Indian digital payments and financial services company, PhonePe officially launched the PhonePe Payment Gateway with a special limited-period offer for new Micro Small & Medium Enterprise (MSME) merchants.

Key Highlights :

• PhonePe Exclusive Free Plan for Payment Gateway for Merchants:
• Zero setup fee
• Zero annual maintenance fee
• Zero hidden charges
• This is in contrast to most payment gateways that charge a standard transaction fee of 2%.
• PhonePe Payment Gateway has given the fintech unicorn startup, PhonePe an entry to the club of other payment gateways in India such as Paytm, Cashfree, Instamojo, CC Avenue, Bill Desk, Razorpay, etc.
• The free services could help merchants who have a monthly sales volume of Rs 1 crore - save up to Rs 8 lakhs and potentially around Rs 2 lakh per month with zero onboarding costs.
• It offers a no-code setup for integration across all platforms and helps merchants accept online payments across Android, iOS, mobile web, and desktop.
• According to data platform Statista, the payment gateways in India are likely to nearly triple in market size in the next 7 years with a compound annual growth rate of 16.2% from around $4.79 billion in 2023 to $13.68 billion in 2030.
• In Earlier June 2023 PhonePe had announced the launch of its Account Aggregator (AA) services for customers to give consent to sharing of all their financial data, such as bank statements, insurance policies and tax filings with regulated financial institutions for several use cases such as applying for loans, buying new insurance, getting investment advice, etc.

About Phonepe :

• Established : 2015
• Headquarters : Mumbai, Maharashtra
• Founder & CEO : Sameer Nigam

Equitas Holdings surrenders NBFC licence to RBI

• The Reserve Bank of India (RBI) stated that Equitas Holdings Ltd has surrendered its Non Banking Financial Company (NBFC) licence, and accordingly its registration has been cancelled.
• The RBI, in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled its CoR (certificate of registration).

About Equitas Small Finance Bank :

• Established : September 5, 2016
• Headquarters : Chennai, Tamil Nadu, India
• Tagline : Here, your money works towards better society

CURRENT AFFAIRS: NATIONAL NEWS

13th meeting of Standing Committee of Eastern Zonal Council concludes in Patna

• The 13th meeting of the Standing Committee of the Eastern Zonal Council concluded in Patna.
• Delegates from Bihar, Jharkhand, Odisha and West Bengal and other stakeholders, such as Union ministries and departments deliberated several inter-state issues during the meeting.
• It was chaired by Chief Secretary of Bihar, Amir Subhani. During the meeting, officials of Odisha, West Bengal and Bihar showcased several good practices.
• Delegates from Bihar and Jharkhand also discussed contentious issues related to bifurcation of assets and liabilities of the Bihar State Construction Corporation Limited
• During the meeting, issues related to Direct Benefits Transfer (DBT), Fast Track Special Courts, Farakka Barrage, Construction of Indrapuri Reservoir project, land acquisition for proposed broad gauge Daniyawan- Biharsharif-Barbigha-Sheikhpura rail line were also discussed.

Ministry of Education is set to host the G20 4th Education Working Group meeting in Pune

• The Ministry of Education is gearing up to host the G20 4th Education Working Group (EDWG) meeting in Pune.
• The event will take place from the 20th to the 21st of June and will witness the participation of 85 delegates from G-20 member countries, guest countries, and international organisations such as OECD, UNESCO, and UNICEF.
• Ahead of the event, the Secretary of Higher Education K. Sanjay Murthy, and Secretary of the Department of School Education & Literacy (DOSeL) Sanjay Kumar, interacted with the media during a pre-event press conference in Pune
• They provided an overview of the ongoing G-20 4th EdWG meeting, Ministerial Meeting, Jan Bhagidari events, and precursor events taking place in Pune.
• The seminar, themed "Ensuring Foundational Literacy and Numeracy, especially in the Context of Blended Learning," will be held at Savitribai Phule Pune University on the 19th of June.
• Over 100 exhibitors, including UNICEF, NSDC, NCERT, National Book Trust, Indian Knowledge Systems Division (IKS), and startup initiatives will present their contributions.
• Additionally, excursions, such as a Heritage Walk of Pune City and International Day of Yoga celebrations will provide participants with opportunities to experience the rich heritage and traditions of Pune.
• The Education Ministers will be taken on a heritage tour of the Shaniwar Wada, post-conclusion of the Education Ministers' meeting on the 22nd of June.

The Civil Aviation sector records 36% growth during January to May, 2023:

• The Civil Aviation sector in the country has witnessed impressive growth.
• Based on the traffic data provided by different domestic airlines, the passenger count reached a milestone of over 636 lakh during January to May 2023, reflecting an annual growth rate of over 36 per cent compared to corresponding period of last year.
• In the month of May last year, passenger count was over 114 lakh, which in May this year rose to over 132 lakh, registering a Month-on-Month growth of 15.24 per cent.
• According to Ministry of Civil Aviation, this growth is a testament to the collective efforts of airlines, airports, and the Ministry in fostering a safe, efficient, and customer-centric aviation ecosystem.
• The overall passenger number in May this year increased by 3.26 lakhs as compared to April this year.
• Also, the number of passenger-related complaints decreased in May 2023 compared to May 2019.
• Civil Aviation Minister Jyotiraditya Scindia said, the collaborative efforts of all stakeholders have played a crucial role in propelling the growth of the aviation sector and establishing India as a prominent global aviation hub.
• The consistent expansion of the domestic airline industry and the birth of regional airlines are strengthening the economy, connecting people throughout the nation and ensuring last-mile connectivity through the UDAN Scheme.

Dr.Mahendra Nath Pandey Launches "Dugdh Sankalan Sathi Mobile App" to Transform Indian Dairy Industries:

• The Union Minister of Heavy Industries Dr Mahendra Nath Pandey unveiled the ground-breaking "Dugdh Sanakalan Sathi Mobile App" at Mussoorie, Uttarakhand.
• This innovative application, designed and developed by Rajasthan Electronics & Instruments Limited (REIL), Jaipur, a “Mini Ratna” Central Public Sector Enterprises under the Ministry of Heavy Industries, is poised to make a lasting impact on the Indian Dairy Industries by addressing key challenges in the milk collection process.
• This mobile app aims to improve the quality of milk, foster transparency among stakeholders, and streamline operations at the grassroots village level, including Milk Cooperative Societies.
• The "Dugdh Sankalan Sathi Mobile App" will bring significant benefits for all stakeholders involved in the milk collection process, including milk producers, cooperative societies, milk unions, and state federations.
• Key features and benefits of the app include:
• Increased transparency among stakeholders
• Online monitoring of daily milk poured at Milk Cooperative Societies
• Real-time milk price updates from the cloud server, ensuring transparency and eliminating human errors
• Direct beneficiary transfers of milk payment and government subsidies to the milk producers' bank accounts through the app
• Push notifications for milk collection to the milk producers' app
• Multilingual app with support for English, Hindi, Punjabi, Telugu, and more

NTPC Vidyut Vyapar Nigam Limited commissions 1 MW Rooftop Solar Power Project at IIT Jodhpur:

• NTPC Vidyut Vyapar Nigam Limited (NVVN), a wholly owned subsidiary of NTPC, has commissioned its first Rooftop Solar Photovoltaic Project at IIT Jodhpur, Rajasthan.
• The one MW Grid-connected Solar Project has been implemented by NVVN under the RESCO model, with Power Purchase Agreement duration of 25 years.
• Under the RESCO model for implementing rooftop solar installation, a renewable energy service company ("RESCO"), (i.e., an energy service company that provides energy to consumers from renewable energy sources), designs, builds, funds and operates the entire solar power plant (roof or ground-mounted), the consumer pays the developer against assured monthly unit generation per kW and DISCOM adjusts generated units in consumer’s electricity bill.
• The project is set up on the roofs of 14 buildings inside the campus of the IIT.
• The rooftop project will generate around 14.9 Lakhs units per annum and will meet 15% of the electricity requirement of IIT Jodhpur.
• The project will result in reduction of carbon dioxide emissions of 1,060 tonnes per year.

About NVVN:

• NTPC Vidyut Vyapar Nigam Limited was formed by NTPC in the year 2002 to tap the potential of power trading in the country.
• NVVN holds the highest Category 'I' power trading license as per the latest regulation of Central Electricity Regulatory Commission.
• NVVN is trading in gypsum and is now diversifying into renewables, e-mobility, conversion of Waste to Green Fuel, and offers complete business solutions across the power value chain.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Bangladesh: World Bank launches its first road safety project in South Asia

• The World Bank (WB) launched its first dedicated road safety project in South Asia with a USD 358 million financing agreement signed in Dhaka with the government of Bangladesh.
• The project seeks to improve road safety and reduce fatalities and injuries from road crashes in selected cities, high-risk highways, and district roads.

Key Highlights :

• 2 national highways of Bangladesh, Gazipur-Elenga (N4) and Natore-Nawabganj (N6), will be taken up for the implementation of this project.
• The project will pilot comprehensive road safety measures, including improved engineering designs, signage and marking, pedestrian facilities, speed enforcement, and emergency care.
• These measures will help reduce road traffic deaths by more than 30% on these two highways.
• Road signs, dividers, footpaths, zebra crossings, speed breakers and bus bays will be constructed on the two highways passing through the 5 divisions of Bangladesh, Dhaka, Khulna, Rajshahi, Rangpur and Mymensingh to reduce accidents and fatalities.
• The project will pilot Ambulance services, including bike-ambulances, with a toll-free number to take road crash victims to the hospital quickly.
• Further, the project will upgrade trauma care facilities in selected district hospitals, and Upazila Health Complexes.
• To control speed, the project will Install CCTV on roads, and construct an electric messaging system.
• It will make provision for patrol vehicles and crash site cleaning equipment.
• It will also support the government to strengthen institutions to effectively manage road safety across the country.

About World Bank :

• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga
• The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.

About Bangladesh :

• President : Mohammed Shahabuddin
• Prime Minister : Sheikh Hasina
• Capital : Dhaka
• Currency : Taka

CURRENT AFFAIRS: AWARDS AND HONOURS

NTPC Barauni secures First Rank at 4th National Water Awards, in Best Industry Category

• NTPC Barauni has achieved a significant milestone by securing the first rank in the Best Industry Category at the 4th National Water Awards.
• The recognition given by the Ministry of Jal Shakti, Government of India highlights NTPC’s unwavering commitment and exceptional efforts in the conservation and management of water resources.
• NTPC’s pursuit of sustainable practices and dedication to environmental stewardship have played a crucial role in the achievement of this remarkable feat.
• The company has implemented a series of innovative initiatives to conserve and manage water resources effectively.
• NTPC’s efforts have not only resulted in significant water savings but have also reduced its environmental footprint.
• The award was presented by the Vice President of India Jagdeep Dhankhar to CMD, NTPC Gurdeep Singh and Head of Project, NTPC Barauni, Rajeev Khanna in the august presence of Union Jal Shakti Minister Gajendra Singh Shekhawat, at an event held at Vigyan Bhawan, New Delhi
• This prestigious recognition from the Ministry of Jal Shakti further strengthens NTPC’s commitment to sustainable practices and encourages the company to continue its efforts towards preserving and managing water resources effectively.
• NTPC remains dedicated to its mission of contributing to the nation's growth while embracing environment-friendly practices.

Vice President Jagdeep Dhankhar presents National Water Awards in New Delhi

• Vice President Jagdeep Dhankhar conferred the fourth National Water Awards in New Delhi.
• The awards focus on encouraging good work and efforts made by various individuals and organisations to conserve water.
• Madhya Pradesh was awarded the first prize in the best State category.
• In the best district category, the award was given to the Ganjam District of Odisha.
• The best Village Panchayat award was presented to Jagannadhapuram Village Panchayat, Bhadradri Kothagudem district of Telangana.
• Akashvani, Guwahati also received the second-best award in Media category.
• The Jal Shakti Ministry had announced a total of 41 winners, covering 11 categories, including joint winners, for the National Water Awards, 2022.
• Union Jal Shakti Minister Gajendra Singh Shekhawat informed that around 56 thousand Amrit Sarovars have been constructed, and almost the same number are under construction in the country.

CURRENT AFFAIRS: MOUS AND AGREEMENT

NITI Aayog and the United Nations in India sign the Government of India - United Nations Sustainable Development Cooperation Framework

• NITI Aayog and the United Nations in India signed the Government of India - United Nations Sustainable Development Cooperation Framework 2023-2027.
• The GoI-UNSDCF was signed by Mr. B V R Subrahmanyam, CEO, NITI Aayog, and Mr. Shombi Sharp, UN Resident Coordinator, India in the presence of the Vice Chairman of NITI Aayog, Mr. Suman Bery, senior representatives from NITI Aayog, central ministries and heads of UN agencies in India.
• GoI-UNSDCF 2023-2027 represents the UN development system’s collective offer to the Government of India, in line with the national vision for development, for the achievement of the Sustainable Development Goals, promoting gender equality, youth empowerment and human rights.
• The United Nations General Assembly Resolution A/RES/72/279 designates the United Nations Sustainable Development Cooperation Framework as the principal planning and implementation instrument for the UN Development System at country level.
• Programme priorities of the UN entities working at the country are derived from the GoI-UNSDCF.
• The GoI-UNSDCF 2023-2027 is built on four strategic pillars derived from the 2030 Agenda – People, Prosperity, Planet and Participation.
• The four interlinked pillars have six outcome areas focusing on Health and Well Being; Nutrition and Food Security; Quality Education; Economic Growth and Decent Work; Environment, Climate, WASH and Resilience; and Empowering People, Communities, and Institutions.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Axis Bank appoints former RBI Deputy Governor N S Vishwanathan as non-executive & part time chairman

• Axis Bank has appointed NS Vishwanathan, former Deputy Governor of the Reserve Bank of India (RBI), as an independent director and non-executive (part-time) chairman.
• His appointment will be effective from October 27, 2023 or the date of approval of his appointment by the RBI for a period of 3 years.

About NS Vishwanathan :

• Vishwanathan had joined the RBI in 1981 and retired in March 2020 as the Deputy Governor, spanning a career of nearly four decades at the central bank.
• In April 2023 Vishwanathan was roped in as head of the advisory board of Razorpay.
• In May 2023, he was appointed as an independent director by the Axis Bank.
• Currently, he serves as the Non-Executive Chairman of the Governing Council at the Institute for Development and Research in Banking Technology, Hyderabad, as also of the Academic Council of the College of Supervisors, RBI, Mumbai.

About Axis Bank :

• Established : 3 December 1993
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

RBI approves re-appointment of Vasudevan P N as MD&CEO of Equitas Small Finance Bank

• The Reserve Bank of India (RBI) has approved the re-appointment of P N Vasudevan as the managing director (MD) and chief executive officer (CEO) of Equitas Small Finance Bank (SFB) for a period of 3 years, from July 23, 2023, to July 23, 2026.

Key Highlights :

• Equitas SFB posted 35% year-on-year (YoY) growth in its advances to reach Rs 27,861 crore by end of March 2023.
• Of that number, the small finance loan portfolio expanded by 28% YoY to Rs 10,083 crore.
• The micro-finance loan portfolio grew by 34% to Rs 5,225 crore.
• The vehicle loan portfolio expanded by 38% to Rs 6,971 crore.
• SFB’s total deposits grew 34% YoY to Rs 25,381 crore.
• The share of low cost money current account and Savings account (CASA) stood at 42% at the end of March 2023.
• The bank’s capital adequacy ratio was 23.z8% with Tier I of 23.08% and Tier II at 0.72% at end of March 2023.

Gopichand Hinduja takes over as Group chairman

• Gopichand Hinduja has taken over as chairman of the $34.5 billion-worth Hinduja Group following the death of his brother, Srichand Hinduja in May 2023.
• Earlier, he was the co-chairman and was overseeing the diverse global business empire that straddles across sectors such as automotive, IT, media and entertainment, infrastructure, oil and speciality chemicals, power and real estate.

About Gopichand Hinduja :

• Gopichand Hinduja is an Indian-born British billionaire businessman controlling the Indian conglomerate Hinduja Group.
• Gopichand obtained British citizenship in 1997

About Hinduja Group :

• Founded : 1914
• Headquarters : Mumbai, Maharashtra, India

Romania’s Nicolae Ciuca resigned as prime minister & appoints Justice Minister Catalin Predoiu as interim PM

• Romania's President Klaus Iohannis has appointed incumbent Justice Minister Catalin Predoiu as interim prime minister (PM) following the resignation of Prime Minister Nicolae Ciuca as part of a ruling coalition deal for a rotating premiership.
• Under an agreement reached by the members of the ruling coalition that was sworn in in November 2021, the country will rotate its prime minister every 18 months before the next parliamentary elections, which are expected in December 2024.
• Under Romania's Constitution, the head of state appoints a candidate for the post of Prime Minister after consulting the party or coalition of political parties that have an absolute majority in Parliament.

About Romania :

• President : Klaus Iohannis
• Prime Minister : Cătălin Predoiu
• Capital : Bucharest
• Currency : Romanian leu

CURRENT AFFAIRS: SPORTS NEWS

Egypt retains World Squash Championship 2023

• Egypt has retained the World Squash Championship 2023.
• Egypt beat Malaysia 2-1 in the final in Chennai.
• Malaysia won the silver.
• The third place was shared jointly by hosts India and Japan.
• India was beaten by Malaysia 3-0 in the semi-fina.
• Tamil Nadu Chief Minister M.K.Stalin presented the golden cup to the winning team, and Sports Minister Udhayanidhi Stalin presented the medals to the winners.
• In his closing speech, the Chief Minister said the State has gained a special place in international sports by organising the Chess Olympiad in a record four-month period.
• Eight countries took part in the championship which began on June 13.

CURRENT AFFAIRS : OBITUARIES

Oscar-winning UK actress & ex MP Glenda Jackson passed away

• Two-time Oscar-winning United Kingdom (UK) actress and former UK politician Glenda Jackson passed away at the age of 87 in London.

About Glenda Jackson :

• Jackson was born on 9 May 1936, Birkenhead, England.
• Jackson gave up acting to join the House of Commons as a Labour member of parliament (MP) in north London from 1992 to 2015.
• She spent 23 years as a Labour Party lawmaker, serving as a minister for transport in prime minister Tony Blair's first government in 1997.
• Her notable performances include Mary, Queen of Scots (1971), Hedda (1975), The Incredible Sarah (1976) and Hopscotch (1980).

Awards & Honors :

• She won two Academy Awards, for Women in Love in 1971 and A Touch of Class in 1974.
• She had her first film role in a quarter century in the 2019 movie Elizabeth is Missing.
• Jackson won a British Academy of Film & Television Arts (BAFTA) award, Britain's equivalent of an Oscar, for her performance as a woman with Alzheimer's trying to solve a mystery.

CURRENT AFFAIRS: IMPORTANT DAYS

World Autistic Pride Day: June 18

• World Autistic Pride Day 2023 is observed all over the world as public awareness on June 18^th
• World Autistic Pride Day theme is "Transforming the narrative: Contributions at home, at work, in the arts and in policymaking".
• Aspies for Freedom established Autistic Pride Day in 2005 by Aspies for Freedom to improve public awareness and celebrate the similarities and differences among persons with autism.
• It swiftly grew into a worldwide phenomenon that is extensively seen both online and offline.
• Aspies For Freedom (AFF) is a grassroots advocacy and solidarity organisation dedicated to increasing public awareness of the autism rights movement.
• AFF's mission is to inform the public that autism is not necessarily a handicap and that there are benefits as well as drawbacks.

World Sickle Cell Awareness Day: June 19

• Every year on June 19th, World Sickle Cell Awareness Day is commemorated to raise awareness of the human Sickle Cell illness.
• The United Nations General Assembly declared World Sickle Cell Day in 2008 to promote awareness of sickle cell illness.
• As a result, on June 19, 2009, Sickle cell disease has spread throughout the world and has gradually evolved into a hereditary and genetic illness. Due to the fact that a large population is now infected with the illness, it is critical that sufferers receive increased knowledge, effective care, and treatment.
• Furthermore, correct diagnosis and early therapy aid in the better management and treatment of the condition.
• In addition to the UN, the WHO now offers a number of options for treating illness patients in a more humane manner.
• According to official data and sources, more than 1000 newborns die of the condition before they reach the age of five.
• The illness has spread rapidly over Africa and the United States, affecting more than 90,000 to 100,000 people.
• In addition, sickle cell anaemia affects people in India, Saudi Arabia, Turkey, the Arabic peninsula, Brazil, Surinam, Guiana, Southern Italy, Greece, and other nations.

World Sauntering Day 2022: June 19

• On the 19th of June every year, World Sauntering Day is observed each year all over the world to encourage people to slow down and appreciate the world around them and connect with nature.
• In 1979, W.T. Rabe established World Sauntering Day.
• He was the one who started this holiday in the 1970s.
• This day was created in response to jogging's growing popularity. W.T. Rabe, it appears, has also devised a few sauntering norms.
• This act must be performed in comfortable clothing, and "some people are just born with it," according to W.T. Rabe.
• The purpose of commemorating this day is to encourage people to take a break, enjoy life, and appreciate what they have.

Daily CA One- Liner: June 18 & 19

• The Reserve Bank of India (RBI) has imposed ₹20 lakh monetary penalty on Manappuram Finance for non-compliance with certain provisions of Non Banking Financial Company (NBFC).
• Motilal Oswal Asset Management Company (MOAMC) has launched Motilal Oswal Nifty Microcap 250 Index Fund, India’s only passive fund offering exposure to microcap stocks.
• Indian digital payments and financial services company, PhonePe officially launched the PhonePe Payment Gateway with a special limited-period offer for new Micro Small & Medium Enterprise (MSME) merchants.
• The Reserve Bank of India (RBI) stated that Equitas Holdings Ltd has surrendered its Non Banking Financial Company (NBFC) licence, and accordingly its registration has been cancelled.
• The World Bank (WB) launched its first dedicated road safety project in South Asia with a USD 358 million financing agreement signed in Dhaka with the government of Bangladesh.
• Axis Bank has appointed NS Vishwanathan, former Deputy Governor of the Reserve Bank of India (RBI), as an independent director and non-executive (part-time) chairman.
• The 13th meeting of the Standing Committee of the Eastern Zonal Council concluded in Patna.
• The Ministry of Education is gearing up to host the G20 4th Education Working Group (EDWG) meeting in Pune
• The Civil Aviation sector in the country has witnessed impressive growth.
• Union Minister of Heavy Industries Dr Mahendra Nath Pandey unveiled the ground-breaking "Dugdh Sanakalan Sathi Mobile App" at Mussorie, Uttarakhand
• NTPC Vidyut Vyapar Nigam Limited (NVVN), a wholly owned subsidiary of NTPC, has commissioned its first Rooftop Solar Photovoltaic Project at IIT Jodhpur, Rajasthan
• NTPC Barauni has achieved a significant milestone by securing the first rank in the Best Industry Category at the 4th National Water Awards
• Vice President Jagdeep Dhankhar conferred the fourth National Water Awards in New Delhi
• NITI Aayog and the United Nations in India signed the Government of India - United Nations Sustainable Development Cooperation Framework 2023-2027.
• Egypt has retained the World Squash Championship 2023.
• The Reserve Bank of India (RBI) has approved the re-appointment of P N Vasudevan as the managing director (MD) and chief executive officer (CEO) of Equitas Small Finance Bank (SFB) for a period of 3 years, from July 23, 2023, to July 23, 2026.
• Gopichand Hinduja has taken over as chairman of the $34.5 billion-worth Hinduja Group following the death of his brother, Srichand Hinduja in May 2023.
• Romania's President Klaus Iohannis has appointed incumbent Justice Minister Catalin Predoiu as interim prime minister (PM) following the resignation of Prime Minister Nicolae Ciuca as part of a ruling coalition deal for a rotating premiership.
• Two-time Oscar-winning United Kingdom (UK) actress and former UK politician Glenda Jackson passed away at the age of 87 in London.
• World Autistic Pride Day 2023 is observed all over the world as public awareness on June 18^th
• Every year on June 19th, World Sickle Cell Awareness Day is commemorated to raise awareness of the human Sickle Cell illness
• On the 19th of June every year, World Sauntering Day is observed each year all over the world to encourage people to slow down and appreciate the world around them and connect with nature