Today's Current Affairs 29th June 2023

INTERNATIONAL 

WHO and ICH collaborate to enhance global sharing of regulatory information on medical products 

• The World Health Organization (WHO) and the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) collaborate to enhance the registry and sharing of regulatory information on medical products worldwide.
• The collaboration will help establish a unified language that streamlines global regulatory decision-making involving the safety and efficacy of medical products while offering insights into the scope, causes and consequences of diseases and mortality worldwide, as per WHO.
• Dr Robert Jakob, WHO Team Lead, Classifications and Terminologies Unit, said, the collaboration paves the way for enhancing medical treatment and patient safety. Also, it aids in the overall improvement of health policies.
• MedDRA, the Medical Dictionary for Regulatory Activities, is a highly specific standardised medical terminology developed by ICH to facilitate sharing of regulatory information internationally for medical products used by humans. It is used for registration, documentation and safety monitoring of medical products before and after a product has been authorised.

APPOINTMENS & RESIGNATIONS

Indian-origin satellite expert Aarti Holla-Maini appointed as UN Outer Space Affairs director 

• Indian-origin satellite industry expert Aarti Holla-Maini has been appointed as the Director of the United Nations Office for Outer Space Affairs (UNOOSA) in Vienna by the United Nations Secretary-General Antonio Guterres. Aarti Holla-Maini will succeed Simonetta Di Pippo of Italy.
• The primary objective of UNOOSA is to foster global collaboration in the peaceful utilization and exploration of outer space, as well as the effective application of space science and technology to achieve sustainable economic and social progress.
• Aarti Holla-Maini has over 25 years of professional experience in the space sector including managerial and advocacy functions.
• Before she was appointed as the Director of United Nations Office for Outer Space Affairs, she was Executive Vice-President Sustainability, Policy & Impact at NorthStar Earth & Space.

Federal Bank gets RBI approval on appointment of A P Hota as part time Chairman 

• The Federal Bank announced that the Reserve Bank of India (RBI) has given approval for the appointment of AP Hota as part time chairman of the private sector bank. “We wish to inform that RBI had vide its letter dated June 26, 2023 accorded its approval for the appointment of A P Hota, independent director, as part time chairman of the Bank with effect from June 29, 2023, till January 14, 2026,” it said in a regulatory filing.
• AP Hota has banking experience of over 27 years in Reserve Bank, mostly in technology and payment systems, from 1982- 2009. While at Reserve Bank of India, he served as nominee director to the Board of Vijaya Bank and subsequently Andhra Bank. “He was the architect of NPCI and served as its Managing Director and Chief Executive Officer between 2009- 2017,” the company said in the filing. 

Rohit Jawa took over as MD and CEO of HUL as Sanjiv Mehta retires 

• Rohit Jawa is all set to take over the corner office at Hindustan Unilever tomorrow 30 June - a day after Sanjiv Mehta retires as managing director and chief executive officer.
• Known for transforming the consumer goods major's China and Philippine business, Jawa serves as the chief of transformation in his London-based role. The 56-year-old Unilever veteran's career has spanned over 35 years since he joined as a management trainee in 1988.
• In his new role as the MD and CEO of Hindustan Unilever, Jawa is likely to get an annual remuneration of Rs 21.43 crore, according to the company's annual report. He will also receive a sum of Rs 4.83 crore as mobility-linked allowances in FY24.
• According to the annual report, Mehta’s salary was 164 times higher than that of an average HUL employee. Now, Jawa’s pay package will exceed what Mehta had received in FY23. He took home Rs 22.36 crore in annual remuneration last fiscal.

IMPORTANT DAYS

National Statistics Day 

• National Statistics Day is celebrated on June 29 every year to recognize the contributions of PC Mahanalobis. It is not be confused with World Statistics Day, which is a UN-designated day and is celebrated on October 20 every 5 years.
• History - Indian government designated 29th June as National Statistics Day in recognition of the contributions made by Prasanta Chandra Mahalanobis in the fields of statistics and economic planning on June 5, 2007. The first National Statistics Day was celebrated on June 29, 2007 and it has been celebrated on the same day since then.
• Theme - The theme of this year's Statistics Day is Alignment of State Indicator Framework with National Indicator Framework for Monitoring Sustainable Development Goals.
• The significance of Statistics Day is to create public awareness in the young generation about the role and importance of statistics in strategizing, economic planning and policy formulation. The occasion is celebrated as a reminder to learn from the achievements of Professor Mahalanobis in the field of statistics.

International Day of the Tropics 

• Every Year, International Day of the Tropics is observed on June 29. Tropics are the areas encircling the Earth’s equator, situated between the Tropic of Cancer in the Northern Hemisphere and the Tropic of Capricorn in the Southern Hemisphere. This day is observed to recognize the remarkable diversity of tropical regions and draw attention to the unique challenges and opportunities they encounter.
• The day serves as a platform to highlight the immense variety found in the tropics, share stories and expertise, evaluate advancements in these regions, and celebrate the diverse cultures and potential within tropical nations. Scroll down to know more about the history and significance of this day:
• History - James Cook University of Australia, alongside 11 other research institutions, released an inaugural State of the Tropics Report on June 29, 2014. The report specifically mentioned that the population present in the Tropical region is expected to rise from 40 percent to 50 percent by the year 2050. It looked into various environmental, social, and economic factors to acknowledge the quality of life in tropical regions.
• Considering the significance of the report, the United Nations General Assembly adopted resolution A/RES/70/267 in 2016, designating June 29 as an official annual observance of International Day of the Tropics, celebrating the anniversary of the report’s release.

SUMMIT'S & MOU's

Fame and TM and SIDBI signed MoU, at attract investment worth Rs,1510 cr 

• On International MSME Day (June 27), several memoranda of understanding (MoU) are set to be signed to attract investments to the tune of over ₹1,723 crore in the presence of Tamil Nadu Chief Minister.
• In an event scheduled in Chennai on Tuesday morning, an MoU between FaMe TN (Facilitating MSMEs of Tamil Nadu) and the SIDBI (Small Industries Development Bank of India) for investments of ₹1,510 crore is likely to be signed, an official release said. It is likely to create over 7,400 jobs.
• The Chief Minister would also inaugurate three new industrial estates at Kodur in Chengalpattu district, Manapparai in Tiruchi district and Sakkimangalam in Madurai district. He would also inaugurate the cashew processing cluster at Kadampuliyur in Cuddalore district under the MSME cluster development scheme.
• Stalin would also hand over awards to entrepreneurs in the MSME sector. Subsidies to the tune of over ₹18.94 crore to 100 beneficiaries under the Annal Ambedkar Business Champions Scheme would be given. 

Assam signs MoU with Caspian Impact Investment to boost rural infrastructure and agribusiness 

• The Government of Assam, through the Assam Rural Infrastructure and Agricultural Services (ARIAS) Society, has signed a Memorandum of Understanding (MoU) with Caspian Impact Investment Adviser (Caspian Equity) to establish an investment fund aimed at enhancing agricultural growth and employment opportunities in the state.
• The collaboration between the government body and the venture capital institution marks a significant step towards strengthening rural infrastructure and fostering agricultural productivity.
• The partnership entails the establishment and implementation of the Assam Agribusiness Investment Fund (AAIF), a contributory and determinate investment trust. ARIAS will act as the nodal agency for the fund, while Caspian Equity will serve as the fund manager.
• The AAIF, with an initial corpus of INR 250 crore, will primarily focus on investing in small and medium enterprises (SMEs) within the agribusiness and allied sectors, aiming to achieve accelerated growth.
• The World Bank, through the Assam Agribusiness and Rural Transformation Project (APART), will provide anchor funding for the AAIF. As a Category II Alternative Investment Fund registered with the Securities and Exchange Board of India (SEBI), the AAIF represents a unique sector-specific fund initiated by a state government in India, with the objective of boosting agricultural productivity and generating employment opportunities.

L&T Tech partners with Mavenir for 5G automation services 

• IT company L&T Technology Services on Monday said it has partnered with state-owned Bharat Sanchar Nigam Limited (BSNL) for the deployment of private 5G network for enterprise customers.
• According to the agreement framework signed by both companies, the spectrum will be provided by BSNL using both PLMN (public land mobile network) and isolated allotment.
• L&T Technology Services (LTTS) will anchor the private network requirements by deploying equipment, applications, servers, technology and software, and core for the integration of devices and sensors within the customer's ecosystem, the IT firm said in a statement.

BANKING AND ECONOMY

RBI imposes 30 Lakh penalty on Standard Chartered Bank and others 

• The Reserve Bank of India (RBI) has imposed penalties on Standard Chartered Bank, four credit bureaus, and seven cooperative banks for various violations. Standard Chartered Bank was fined ₹30 lakh for non-compliance with KYC directions. The credit bureaus, including Experian, TransUnion CIBIL, Equifax, and CRIF High Mark, faced penalties totaling ₹1 crore for inadequate maintenance of accurate credit information. Additionally, the RBI penalized seven cooperative banks, including UP Co-operative Bank, for violating certain provisions.
• Deficiencies in Regulatory Compliance The penalty is based on deficiencies in regulatory compliance and does not question the validity of any transactions or agreements between the bank and its customers.